Economic Development District management proposals range from $ 77,600 to $ 500 per year | New
Proposals ranging from $ 500 per year to $ 77,600 per year to manage the day-to-day operations of five new economic development and taxation districts in Lafayette will be considered by EDD boards on Monday.
The neighborhoods were created in 2019 by the former Lafayette municipal council, which was replaced in January 2020 by separate municipal and parish councils. Five members of the municipal council sit on the boards of directors of the EDD.
The districts were designed to exclude residences and avoid having to seek voter approval to collect sales taxes and hotel / motel taxes that are reserved for use in each district for the benefit of building projects. economic development in the district where taxes are collected. Taxes have been collected since July 1, 2020.
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The Acadiana Planning Commission and the Lafayette Public Trust Financing Authority have submitted proposals to manage EDDs, with the APC seeking to manage the University Gateway and Trappey EDDs, while the LPTFA proposes to manage the Downtown Lafayette, Northway and Holy Rosary Institute.
By far the highest proposal, $ 77,600 per year, is the CPA’s application to manage the University Gateway EDD, which is located roughly from Cameron Street to Interstate 10.
The Planning Commission proposes to manage the general administrative services of the board, including the day-to-day operations of the University Gateway EDD, internal accounting, and the preparation of agendas, public notices and minutes of board meetings.
Rachel Godeaux, director of community and economic development, said the proposal includes accounting services to establish the books and manage the finances of EDD’s board of directors. The RFP, she said, made it possible to hire basic professionals such as a CPA.
The proposal covers July 1, 2021 until June 30, 2022, Godeaux said. By the end of 2022, the University Gateway EDD is expected to have collected around $ 800,000 in taxes, she said.
If council wishes to use the non-administrative services of the planning commission, according to the proposal, the commission would charge extra for these services based on a billable rate schedule ranging from $ 175 per hour for CEO Monique Boulet. at $ 40 an hour for an administrative assistant. These additional services would include project planning or development, evaluation of proposed projects, and facilitation of the approval of individual projects.
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For the administrative services of the EDD of Trappey council, the town planning commission would bill according to the billable price list instead of a flat rate.
The LPTFA’s proposals include a base fee for general board administration of $ 17,500 per year for downtown EDD, $ 12,500 per year for the Northway EDD and $ 500 per year for the Holy Rosary Institute EDD.
The cost covers the daily operations of each EDD, the preparation of invitations, agendas and minutes of board meetings; keep books and records; and help with files. The LPTFA will also facilitate the process of selecting key professionals and help establish financial and accounting processes, develop a budget, work with key professionals to establish a development project plan, evaluate projects and oversee projects on behalf of the board. .
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The LPTFA may charge additional fees, to be negotiated with the boards of directors and, if necessary, for the evaluation of individual projects, the processing of approved agreements and the facilitation and supervision of approved projects.
Monday’s EDD Board meetings will be held at the Rosa Parks Transportation Center on Cypress on Jefferson Streets downtown. They are open to the public. The schedule includes:
- 4:30 p.m. Downtown Lafayette EDD
- 5:00 p.m. EDD of the Institute of the Holy Rosary
- 5:15 p.m. Northway EDD
- 5:30 p.m. Trappey EDD
- 5:45 p.m. JED University Gateway
Collection of sales and hotel / motel taxes from July 2020 to February 2021
- EDD University, approximately $ 291,000
- Northway EDD, approximately $ 270,000
- Downtown EDD, approximately $ 269,000
- Saint Rosaire EDD, approximately $ 14,800
- Trappey EDD, approximately $ 2,000
(Source: Lafayette Parish School Board Sales Tax Office)