Lafayette staff outlines intergovernmental agreement to stand up Downtown Development Authority

City staff presented a proposed intergovernmental agreement Feb. 25 that would establish a Downtown Development Authority for Lafayette and set a framework for administrative support, funding mechanisms and cooperative agreements.

The agreement matters because it defines how the city and the DDA will share staff and resources, how the DDA will be funded in its early years and what formal approval the council will retain. The presentation detailed board composition, fee structures and options for loans and cooperative projects tied to the city’s plan of development.

Bridget Keating, economic development director, told council the agreement is meant to “establish a clear framework for how the city and the DDA can collaborate on shared initiatives, funding, and, projects.” She said the DDA board will be seven members: one council member, four property owners or residents and two business owners, noting the state requirement that a majority of the board…