LAFAYETTE, La. (AP) - The Lafayette City-Parish Council is moving forward with a proposal to keep collecting an extra penny sales tax at the Louisiana Avenue/Interstate 10 interchange to pay for infrastructure to support a new commercial development.
The Advocate reports (https://bit.ly/1I9sCve ) a final vote on the measure is set for April 28.
The council in 2006 approved a special taxing district at the interchange, where the sales tax rate is 9 percent, compared with 8 percent elsewhere in the city.
The extra tax revenue has been used to repay about $9 million in debt for road work, drainage improvements and other upgrades to lure the Target-anchored shopping center southwest of interchange.
Councilman Kenneth Boudreaux, who represents the area, has proposed continuing that tax to support future developments, specifically a 42-acre site northeast of the interchange that’s being eyed for a large grocery store, a theater, several restaurants, a shopping center and at least one hotel.
He said some type of incentive seems necessary to spur development in the area.
“People run to build in other areas,” Boudreaux said. “Nobody is running to build there.”
Only general information was available Monday about the proposed development.
The property owners and developers were not in attendance at the meeting, and no information was offered on the specific stores being courted, the timeline for the project or details on the type of infrastructure being sought.
A broker for the property owners has confirmed only that a Super 1 Foods is part of the plan.
The measure submitted to the council would authorize borrowing up to $3 million for infrastructure improvements, including road work, street lights and the extension of utilities, then using tax revenue to repay the debt.
The council voted 6-2 with little discussion to move the measure forward.
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Information from: The Advocate, https://theadvocate.com
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