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Deal to earmark state tax revenue for New Orleans infrastructure in the works
Posted on 5/3/19 at 2:23 pm
Posted on 5/3/19 at 2:23 pm
quote:
New Orleans infrastructure funding deal again close to complete
LINK
The deal follows months of negotiations between Mayor LaToya Cantrell, Gov. John Bel Edwards and hospitality sector leaders, who have at times pushed back on the mayor’s call for a larger share of tax revenues dedicated to tourism-focused groups. Sources have said the deal involves giving the city $48 million in up front money and $27 million in annual revenue.
Originally, Cantrell wanted a $75 million one-time payment and $40 million in recurring revenue when she asked the governor in January to form an informal working group to arrive at funding solutions. The mayor has wanted the bulk of that money to come from the convention center’s roughly $230-million reserve account, with recurring funds coming from rededicated hotel taxes.
The deal as it appears to stand could in some respects put more money in the hands of the local tourism industry, from which Cantrell had proposed securing the money she sought, while in other areas would pull both one-time and recurring money from the industry by rededicating existing tax revenues from the New Orleans Tourism Marketing Corp.
6
Posted on 5/3/19 at 2:25 pm to member12
Sometimes,...just some times, it's better to look forwards rather than backwards.
This post was edited on 5/4/19 at 5:15 am
Posted on 5/3/19 at 2:25 pm to member12
Just give them whatever they want. I'm sure they'll spend it wisely.
Posted on 5/3/19 at 2:26 pm to member12
Well New Orleans accounts for probably 95% of tourism in the state, makes sense New Orleans should get most of that.
Posted on 5/3/19 at 2:28 pm to OysterPoBoy
Not only does the state have to dedicate a portion of their hotel tax to New Orleans, but Cantrell demanded a one time payment of $75 million?!?
frick that.
frick that.
Posted on 5/3/19 at 2:32 pm to member12
The Convention Center having +$200MM in reserves is amazing. I know they had plans and all, but now those plans are scrapped and they are looking to lease the land reserved to build on.
That takes balls to pull off that move.
That takes balls to pull off that move.
Posted on 5/3/19 at 2:35 pm to fightin tigers
Thank god for Nola
Posted on 5/3/19 at 2:36 pm to Draconian Sanctions
For downvoters, New Orleans should forgoe its own infrastructure needs in order to give money that New Orleans generates to the rest of the state just because?
This post was edited on 5/3/19 at 2:37 pm
Posted on 5/3/19 at 2:40 pm to Draconian Sanctions
Thread title is goofy. This looks like revenues solely levied and generated in New Orleans and not exactly "state tax revenue."
Posted on 5/3/19 at 2:41 pm to Draconian Sanctions
quote:
For downvoters, New Orleans should forgoe its own infrastructure needs in order to give money that New Orleans generates to the rest of the state just because?
This board is full of socialist who think the money should be taken from the wealth earners and redistributed to the Parishes that aren't as fortunate.
This post was edited on 5/3/19 at 2:45 pm
Posted on 5/3/19 at 2:44 pm to member12
As long as I'm close enough to paint all kinds of graffiti on it after I pay for it, I'm good.
Posted on 5/3/19 at 2:48 pm to TheHarahanian
quote:
As long as I'm close enough to paint all kinds of graffiti on it after I pay for it, I'm good.
quote:
TheHarahanian
Ummm...
Posted on 5/3/19 at 2:48 pm to dewster
What sucks is that tourism taxes are actually three separate categories and two of them are explicitly for New Orleans or the surrounding area already.
Statewide Hotel Motel, New Orleans Hotel Motel, and New Orleans Exhibition Hall.
Statewide Hotel Motel, New Orleans Hotel Motel, and New Orleans Exhibition Hall.
Posted on 5/3/19 at 2:50 pm to fightin tigers
Exactly. Poor people are holding us back.
Posted on 5/3/19 at 2:51 pm to member12
Covington tiger on suicide watch now
Posted on 5/3/19 at 2:53 pm to Y.A. Tittle
Depends on how things are counted.
Hotel taxes in New Orleans and exhibition hall taxes in New Orleans and the surrounding areas are already dedicated to New Orleans.
There is a separate hotel tax for the rest of the state.
What the city may be angling for is a bigger portion of sales tax revenues raised in New Orleans be funneled back to the city, despite the fact that they are already claiming city and parish taxes on the same sales.
Hotel taxes in New Orleans and exhibition hall taxes in New Orleans and the surrounding areas are already dedicated to New Orleans.
There is a separate hotel tax for the rest of the state.
What the city may be angling for is a bigger portion of sales tax revenues raised in New Orleans be funneled back to the city, despite the fact that they are already claiming city and parish taxes on the same sales.
Posted on 5/3/19 at 2:53 pm to teke184
quote:
What the city may be angling for is a bigger portion of sales tax revenues raised in New Orleans be funneled back to the city, despite the fact that they are already claiming city and parish taxes on the same sales.
frick that.
Posted on 5/3/19 at 2:54 pm to teke184
Yeah, the article sort of makes all that clear as mud.
Shocking, I know.
Shocking, I know.
Posted on 5/3/19 at 2:55 pm to Y.A. Tittle
And the writing will get worse now that the Advocate has bought them out.
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