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News: Business

Election set on development district

January 13, 2013 | Modified: January 13, 2013 at 4:15 pm
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LAKE CHARLES, La. (AP) — The City Council has approved a resolution calling for an election in April in which voters would decide whether a lakefront taxing district could be activated to collect sales taxes.

Mayor Randy Roach told the council the matter centers on a tax incremental financing, or TIF, district, in which sales tax collections are used to pay costs of some developments within the district.

The American Press reports (http://townta.lk/VN2rEB ) the Legislature authorized the TIF for the lakefront to help provide financial support for capital improvements to the district, where voters previously approved the concept of public-private development.

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Information from: American Press, http://www.americanpress.com