Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council hears plan for Film and Entertainment Gateway economic district; 2% levy discussed
Summary
City staff introduced an ordinance to create the Film and Entertainment Gateway Economic Development District in downtown Shreveport; plan would levy an additional 2% economic development levy within the district and use performance-based incentives to spur redevelopment.
City staff introduced an ordinance on Aug. 26 to create the Film and Entertainment Gateway Economic Development District encompassing the Millennium Studios area and much of downtown’s entertainment corridor.
Staff described the proposed district as confined to properties already targeted for redevelopment in District B and said, “the plan is to levy an additional, economic development levy of 2% on everything,” a levy requested by property owners inside the proposed district.
Council members asked for maps and details of district boundaries; staff said a map and QR code are available online and that the district would include Millennium Studios, part of Texas Street, the old street-square corridor, Stageworks and neighboring buildings. Staff said the district can be expanded later but that owners in the area asked to limit inclusion so adjacent areas would not pay the extra levy unless they opt in.
Council and staff discussed why the district stops short of the casino corridor: staff said excluding the casinos preserves those revenues for the city’s general fund rather than diverting them for district redevelopment.
Staff also emphasized that any incentives would be performance-based: if developers do not meet agreed milestones, they do not receive the incentive. Council asked whether other incentives are planned; staff confirmed additional, unspecified incentives are forthcoming and deferred detailed terms to future briefings.
The ordinance creating the district was introduced for later consideration; staff said it cannot be adopted at the next meeting because a public hearing is required.
