LCG Payment in Lieu of Taxes (PILOT) Proposal - KLFY News 10

LCG Payment in Lieu of Taxes (PILOT) Proposal

A tract of land bounded by Kaliste Saloom, Ambassador Caffery and Frem Boustany Drive is proposed for commercial development. In fact, the Lafayette Consolidated Council is being asked to support the developer in building public infrastructure, in lieu of taxes.

City-Parish President Joey Durel told the council Tuesday the proposed tax arrangement by the Industrial Development Board of the Parish of Lafayette is a golden opportunity. Infrastructure development further along Ambassador Caffery to Verot School Road could open the door to much more; including an opportunity for reducing traffic problems without raising taxes. Paying for infrastructure in lieu of taxes is a tool that's available and Durel believes Lafayette should use it.

"Again as I said, our competition doesn't ignore those tools. This is an opportunity for us to bring in a great shopping center," said Durel.

Durel explained Lafayette relies heavily on sales taxes. So, from a hub city standpoint he explained the importance of Lafayette doing what it can to give retailers a reason to choose Lafayette and not another city. "Another thing we negotiated with this group is to have a police substation over there," added Durel.

Councilman William Theriot wanted know how can LCG do for one business what it hasn't done for others? "How can we justify giving subsidies to a new business that has not been in Lafayette; as compared to all those who worked their butts off to build what they have," said Theriot. A representative of the developing company, Ryan Pecot, reminded the council of what's on the table and what's being offered "2,500 (ish) construction jobs, 1,100 (ish) permanent jobs. We're talking $250 million in projected sales."

"At the end of the night, the reviews were mixed on infrastructure funding in lieu of taxing. "It's a prime area. It’s going to be developed. It’s worth a lot of money," said Jared Bellard councilman. Councilman Kenneth Boudreaux requested a meeting to discuss how such a tax arrangement could help with development in his district.
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