§ 25-62. Manhattan Corridor Economic Development District.

(a)

Pursuant to the authority contained in Act No. 286 of the 2007 Louisiana Legislative Session (the "Act"), now encompassing La. R.S. 33:1420.17, and the Jefferson Parish Charter, there is hereby created a special taxing district of the state of Louisiana, to be known and designated as "Manhattan Corridor Economic Development District, State of Louisiana" (the "District") and as thus created shall constitute a public corporation and political subdivision of the state of Louisiana and shall have and exercise all powers of a political subdivision and special taxing district necessary or convenient for the carrying out of its objects and purposes all as granted by the Act and by the Constitution and laws of the state of Louisiana to such corporations, including the power to incur debt, issue bonds or other evidences of indebtedness, and provide for the payment and security thereof.

(b)

The district shall comprise and embrace all of that territory within the following described boundaries, to wit:

The unincorporated property in Jefferson Parish bounded by 4th Street, Heebee Canal, Whitney Canal, Verret (Trapp) Canal, Harvey Boulevard, Murphy Canal, and Gardere Canal, as shown in the attached map.

(c)

The district is established for the primary purpose of promoting, encouraging, and participating in infrastructure improvements to stimulate the economy through commerce, industry, and research and for the utilization and development of natural, physical, and human resources in the area, and any authorized purpose of the district.

(d)

In accordance with the Act and the Jefferson Parish Charter, the Jefferson Parish Council is hereby designated as the governing authority of the district, the domicile of the district is hereby designated as the same as the Jefferson Parish Council, and the seal of the Parish of Jefferson and the official journal of the Parish of Jefferson shall be the official seal and official journal of the district.

(e)

There is hereby created a special trust fund, to be named the "Manhattan Corridor Economic Development District Trust Fund" into which local and state sales tax increments designated therefore shall be deposited to fund economic development projects and infrastructure improvement projects determined by the district and within the following described boundaries:

The unincorporated property in Jefferson parish bounded by 4th Street, Heebe Canal, Whitney Canal, Verret (Trapp) Canal, Harvey Boulevard, Murphy Canal, and Gardere Canal.

(f)

This parish council, as the governing authority of the district, hereby designates the one-half (½) percent sales and use tax levied by Jefferson Parish pursuant to "La.R.S. 33:2737.1 and an election held on May 3, 1996" (the "designated sales tax") as the designated local sales tax which is to be used in determining the sales tax increments for the district.

(g)

The parish council finds and determines that the fiscal year ended December 31, 2012 is the fiscal year of Jefferson Parish most recently completed prior to the establishment of the district, and that in said fiscal year ended December 31, 2012 the amount of the designated sales tax collected in the district was two million six hundred eleven thousand five hundred ninety-six ($2,611,596.00); and that, therefore, the initial annual baseline collection rate and the monthly baseline collection rate of the designated sales tax, as those terms are used in La. R.S. 33:9038.34, are, respectively two million six hundred eleven thousand five hundred ninety-six ($2,611,596.00) (annual rate) and two hundred seventeen thousand six hundred thirty-three dollars ($217,633.00) (monthly rate).

(Ord. No. 24478, §§ 1—7, 5-15-13)

Editor's note

Ord. No. 24478, §§ 1—7, adopted May 15, 2013, did not specifically amend the Code; hence, inclusion herein as § 25-62 was at the discretion of the editor. See also the Code Comparative Table.