Bill > HB107

This bill creates the Greater St. Martinville Economic Development District, a new political subdivision within the city of St. Martinville, Louisiana. The district encompasses specific areas including Main Street, the Ledoux neighborhood, Adam Carlson Park, the historic city square, East Bridge Street, and Port Street. The district's primary goals are to promote economic and community development, enhance property improvements, preserve culture, create employment opportunities, improve infrastructure, and benefit local citizens. The district will be governed by a seven-member board of commissioners appointed by various local entities, including the St. Martin Economic Development Authority, the St. Martinville Historic District Commission, local state representatives and senators, parish council members, and the mayor of St. Martinville. The board members will serve staggered three-year terms and will not receive compensation but may be reimbursed for expenses. The district will have broad powers, including the ability to enter contracts, receive grants, host cultural events, and levy up to a 1% sales and use tax within its boundaries, subject to voter approval. Additionally, the district can implement tax increment financing and issue revenue bonds to fund development projects. The district will automatically dissolve one year after all its financial obligations are fully paid.

Government Affairs

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB107&sbi=y