Ordinances would pave the way for additional sales and hotel taxes at the planned "outdoor lifestyle center."
The Lafayette City-Parish Council is scheduled to vote Tuesday on introductory ordinances that would create a pair of economic development districts on a tract of land fronting Kaliste Saloom Road across from River Ranch. The project is in the early phase of development as a retail, dining, upscale lodging and park site known as Parc Lafayette. The twin districts, known as the Parc Lafayette Economic Development District and the Parc Lafayette II EDD, lie on about 34 acres skirted by Kaliste Saloom, Long Plantation and Camellia Boulevard, and Starling Lane.
Related introductory ordinances on the agenda would allow for the levying of additional taxes at businesses operating within the economic development districts: a 1 percent sales and use tax and a 2 percent hotel occupancy tax at phase one (21.2 acres); and a 2 percent sales and use tax and a 2 percent hotel occupancy tax at phase two (13 acres). The additional revenue over and above city and parish taxes that would already be applicable would be used to create trust funds, paving the way for the sale of bonds by the Lafayette Industrial Development Board and the Lafayette Economic Development Authority to fund infrastructure and other upgrades in the area.
In real estate developer parlance the site will be known as an "outdoor lifestyle center." Announced more than a year ago, the land has been cleared, and basic infrastructure like utilities, storm water drainage and some paving are almost complete. It remains unclear what, if any, leases have been secured for the development.