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Post by edcrane on Jul 8, 2012 14:04:51 GMT -6
Grambling Legends Square Districtmyarklamiss.com/fulltext?nxd_id=149172Governor Bobby Jindal signed off bill number 564 on Thursday. The bill, Grambling Legends Square project will allow the city of Grambling to build, improve, and renovate properties in the city. The city of Grambling will take their debt service fund, which usually goes to the state and use it as a loan to pay for their hotel and other retail stores. The city will then repay the loan thru sales and occupancy taxes thru the hotel and retail stores. This is a called a TIF or Tax Increment Financing. It dedicates tax increments within a certain defined district to finance the debt that is issued to pay for projects. TIF's are often used in areas where community enhancements or developments may not occur. Mayor Edwards Jones said the whole city including students at Grambling State University are on board. The hotel would be located behind the post office across from the Eddie Robinson museum and the retails stores would be along I-20. The city of Grambling is negotiating a partnership with the Grambling State University Legend organization. Mayor Jones said they hope to break ground on the new project by the end of the year.
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Post by Wishbone on Jul 8, 2012 14:24:46 GMT -6
Thanks for the info. This is the first I've heard of this.
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Post by gmanwest on Jul 8, 2012 14:27:24 GMT -6
Time will tell.
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Post by edcrane on Jul 8, 2012 14:59:10 GMT -6
Here is more info. Louisiana Creates Grambling Legends Square Taxing Districtwww.taxrates.com/blog/2012/06/18/louisiana-creates-grambling-legends-square-taxing-district/The Louisiana Legislature recently past Senate Bill 564, which became Act 798 when Governor Bobby Jindal signed it June 13, 2012. Act 798 creates the Grambling Legends Square Taxing District gcto provide for taxes to be levied by the district; and to provide for related matters.h The Grambling Legends Square Taxing District has been created as "...a special taxing district and political subdivision of the state...". The Act describes the boundaries in detail in section 1. Upon approval from voters, the district may impose a sales tax that may be used to spur gceconomic development among the city, the district, the state, owners of property within the district and other entities as permitted by lawc.h This power is granted so that the district can subsidize or provide loans for gcconstruction, infrastructure, renovation, and development of certain propertiesc.h A Board of nine members will administer and govern the taxation. The Board will be comprised of: ¡The mayor of the City of Grambling; ¡Five members of the board of aldermen of the city; ¡A Grambling State University representative; ¡Two citizens who own property; Board members shall service three-year terms and serve on a voluntary basis, unpaid. The Act authorizes the Board to gclevy and collect a tax upon the occupancy of hotel rooms, motel rooms, and overnight camping facilities within the areac.h
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Post by D-Dogg on Jul 9, 2012 13:00:38 GMT -6
They should have more students on the board in my opinion. They are the ones who suffer the most when the city of Grambling doesn't progress.
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Post by Ray Higgins on Jul 10, 2012 7:14:42 GMT -6
They should have more students on the board in my opinion. They are the ones who suffer the most when the city of Grambling doesn't progress. Explain.
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Post by gmanwest on Jul 10, 2012 13:20:14 GMT -6
They should have more students on the board in my opinion. They are the ones who suffer the most when the city of Grambling doesn't progress. Students shouldn't be making grown up decisions.....The students stay at Grambling is temporary.
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Post by D-Dogg on Jul 10, 2012 18:49:35 GMT -6
Why shouldn't they make grown-up decisions? Are they not adults? Their stay is temporary, but they put a good chunk of money into Ruston -- money that can be put into Grambling. If Grambling were to get a Wal-Mart Neighborhood Store, a grocery, or something that'll keep the students in town, the money will come back to Grambling.
I think I overstated that they suffer the most, but they do suffer. I think the city of Grambling suffers the most when they can't get taxes off of the businesses to pay for a new water system, new roads, new utility infrastructure, etc.
My argument for a student to be on the board is that they make up the majority of the client base in Grambling. If they make up the majority of the client base, they need to be represented in some fashion, whether it's an SGA President or the FSUB President. Someone needs to let the students have a voice, because those businesses will either fail or be successful in a large part due to the students.
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Post by Deleted on Jul 10, 2012 21:03:00 GMT -6
I feel ya.
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Post by gmanwest on Jul 10, 2012 23:24:39 GMT -6
Why shouldn't they make grown-up decisions? Are they not adults? Their stay is temporary, but they put a good chunk of money into Ruston -- money that can be put into Grambling. If Grambling were to get a Wal-Mart Neighborhood Store, a grocery, or something that'll keep the students in town, the money will come back to Grambling. I think I overstated that they suffer the most, but they do suffer. I think the city of Grambling suffers the most when they can't get taxes off of the businesses to pay for a new water system, new roads, new utility infrastructure, etc. My argument for a student to be on the board is that they make up the majority of the client base in Grambling. If they make up the majority of the client base, they need to be represented in some fashion, whether it's an SGA President or the FSUB President. Someone needs to let the students have a voice, because those businesses will either fail or be successful in a large part due to the students. You are atleast 25 and you still can't make adult decisions,so you think that we will trust an eighteen year old?
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Post by D-Dogg on Jul 11, 2012 3:28:28 GMT -6
I'm not even going to entertain your insult.
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Post by edcrane on Jul 11, 2012 19:17:32 GMT -6
They should have more students on the board in my opinion. They are the ones who suffer the most when the city of Grambling doesn't progress. Students shouldn't be making grown up decisions.....The students stay at Grambling is temporary. I agree somewhat because look what they did when it came to voting for a fee to help renovate the Library. The vote was NO!
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