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LoRa winds down; city, DDA plan downtown handoffs and $2 million start-up funding
Summary
LoRa presented a budget amendment and a 2026 wind-down budget and proposed transferring $2 million to the newly formed Downtown Development Authority to support initial operations, parking, marketing and small-business support.
The Lafayette Urban Renewal Authority (LoRa) presented an amendment to its 2025 budget and the authority's recommended 2026 wind-down budget as its tax-increment financing (TIF) concluded and responsibility moves to the Downtown Development Authority (DDA) and the city.
LoRa reported an additional $900,000 in property-tax receipts collected because property tax…
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