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re: Deal to replace PMAC arena could require LSU land, new tax. Public can't see the details.
Posted on 3/21/24 at 8:24 am to WPBTiger
Posted on 3/21/24 at 8:24 am to WPBTiger
It is quite common and is a good thing. Think Juban. The program allows borrowing for public infrastructure which is constructed as part of the project to support the project. Then future additional retail sales tax (up to 2%) resulting from the project are dedicated to pay off the bonds.
If you don't want to pay the tax that pays for the new interstate exchange at Juban, don't shop a Juban.
If you don't want to pay the tax that will help pay for the arena, don't use the arena. It isn't like they will raise taxes in all of EBR to pay for the project.
If you don't want to pay the tax that pays for the new interstate exchange at Juban, don't shop a Juban.
If you don't want to pay the tax that will help pay for the arena, don't use the arena. It isn't like they will raise taxes in all of EBR to pay for the project.
This post was edited on 3/21/24 at 8:25 am
3
Posted on 3/21/24 at 8:47 am to jmaclsu
If the public is paying a 2% tax that area should have to vote to approve it.
Posted on 3/21/24 at 11:20 am to jmaclsu
quote:
If you don't want to pay the tax that will help pay for the arena, don't use the arena. It isn't like they will raise taxes in all of EBR to pay for the project.
If the development district is limited in size to the arena and parking lots, that's fine.
Looking at the current map, it may incldue additional areas.
But the development district is, technically, a government agency, and so, technically, anything the development district does should be public record.
So if a development district tax is going to be used to help fund construction, I'm not necessairly opposed to that, but that does mean it needs to be an open process.
Posted on 3/23/24 at 5:45 am to jmaclsu
Are they talking about TIFs?
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