SpaceX will be able to lease the former Pecan Island School property from a University of Louisiana at Lafayette-affiliated nonprofit while preparing for an anticipated purchase in 2027, under agreements approved Thursday by the University of Louisiana System Board of Supervisors.
The board approved two agreements involving UL Lafayette, Ragin’ Cajun Facilities Inc., a nonprofit affiliated with the university, and Space Exploration Technologies Corp., known as SpaceX.
Under the arrangement, UL Lafayette will lease 5.024 acres in Vermilion Parish — including the former school, the Peter M. John and David M. John Wildlife and Coastal Preservation Center, and other buildings and improvements at 28902 Louisiana Highway 82 in Pecan Island — to Ragin’ Cajun Facilities for $1 a year…