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STATE OF LOUISIANA <br /> p4 Loper DEPARTMENT OF STATE CIVIL SERVICE <br /> 4,N <br /> LOUISIANA LOUISIANA BOARD OF ETHICS <br /> P.O. BOX 4368 <br /> BATON ROUGE, LA 70821 <br /> F DE" (225)219-5600 <br /> .o. FAX:(225)381-7271 <br /> 1-800-842-6630 <br /> www.ethics.1a.gov <br /> February 9,2026 <br /> Louis M. Russell II. <br /> 10916 Toledo Bend Ave <br /> Baton Rouge, Louisiana 70814 <br /> Re: Docket No. 2025-707 <br /> Advisory Opinion <br /> Dear Mr. Russell: <br /> The Louisiana Board of Ethics, at its February 6, 2026 meeting, considered your advisory opinion <br /> request as to whether the Code of Governmental Ethics (the "Code") prohibits you and/or your <br /> legal entity from assisting persons in transactions with your former agency, the Multifamily <br /> Housing District("MFHD") at the Louisiana Housing Corporation("LHC"). <br /> FACTS PROVIDED <br /> You retired as the Director of Multifamily Housing Development with the Louisiana Housing <br /> Corporation on September 26, 2025. In that role, you exercised administrative and decision- <br /> making authority over multiple programs including:the Low-Income Housing Tax Credit(LIHTC) <br /> Program,the HOME Investment Partnerships Program(HOME),the National Housing Trust Fund <br /> (NHTF),the Tax-Exempt Bond Program,and the Community Development Block Grant-Disaster <br /> Recovery(CDBG-DR)initiatives.Your responsibilities included:developing and reviewing policy <br /> documents such as the Qualified Allocation Plan (QAP) and program guidelines for HOME and <br /> NHTF; reviewing and approving funding awards and draw requisitions for project disbursements; <br /> providing monthly updates and policy recommendations to LHC's Board of Directors; and, <br /> offering direction, oversight, and training to program staff and members of the executive team. <br /> You are seeking to potentially establish a private firm in which you would be the sole <br /> owner. Through this company, you would like to provide development, compliance, or funding <br /> application services to affordable housing developers with projects funded or to be funded by LHC, <br /> specifically the programs which you administered when you served as the Director of MFHD. <br /> You may also establish a non-profit of which you would serve as the Executive Director, board <br /> member or advisor that would seek funding from LHC. <br /> LAW <br /> La. R.S. 42:1121A(1) provides no former agency head or elected official shall,for a period of two <br /> years following the termination of his public service as the head of such agency or as an elected <br /> Page 1 of 4 (BD 2025-707) <br /> AN EQUAL OPPORTUNITY EMPLOYER <br />