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Committee reports favorably local bill to create TIF for hotel redevelopment in St. Francisville
Summary
Senators reported HB 267 favorably; Representative Lacombe said the bill creates a tax increment financing district to support refurbishment and redevelopment of an old hotel in St. Francisville, with local support.
The Senate Committee on Local and Municipal Affairs on Wednesday reported HB 267 favorably after Representative Lacombe described the bill as a cleanup measure creating a tax increment financing (TIF) district for the redevelopment of an existing hotel in St. Francisville, West Feliciana Parish.
Representative Lacombe told the committee the hotel is owned by local stakeholders and that the bill would authorize a TIF district to fund refurbishment and development. "This is sort of a clean up from last year's matter. It's the creation of a, a TIF district to encompass a specific site in Saint Francisville for the development, the refurbishment and development of an old hotel there," he said. He also said the bill had local support and was properly advertised.
Senator Miller moved to report the bill favorably; the committee recorded no objections. Witness cards listed support from the Louisiana Travel Association and other local stakeholders. The committee’s favorable report advances HB 267 for further legislative consideration; the bill author and supporting stakeholders said the proposal has local backing and that implementation would be coordinated with local officials and developers.
