Lafayette Council To Consider Forming Three Cultural Districts
At this Tuesday's regularly scheduled meeting of the Lafayette City-Parish Council members will have something other than the confusion over the charter vote, drainage issues, and just who can read stories in our library. The council will look into the formation of three cultural districts within the city of Lafayette.
The areas of town being considered for this designation are The Oil Center, the University Avenue corridor, and the area known as Freetown. Those areas are highlighted because they contain many buildings and structures that are at least 50 years old or older.
The age of those structures would qualify those areas for tax breaks from the state. Which would likely be a big enticement to developers hoping to revitalize those areas. Lafayette already has two parts of town designated as cultural districts. Those areas are the Downtown area and the McComb Vezay neighborhood.
Proponents of the measure say the designation would not only encourage developers to invest in those areas but there is a tax saving for shoppers. Original artwork, purchased in an area designated as a cultural district is not subject to local sales tax.
Should the City-Parish Council approve the formation of the cultural districts. The next step will be to submit to the proposal to the state for final approval.