Livingston Parish Chamber anticipates veto on Juban Crossing TIF Zone
“The Livingston Parish Chamber of Commerce says it believes that Gov. Bobby Jindal will veto SB 673 regarding a TIF zone for the Juban Crossing Economic Development District, which would deposit 1% of state sales tax generated within the district into the district for a maximum of $45 million. “With your concurrence of SB 673, Juban Crossing Development will provide an estimated 1,500 construction jobs, 2500 new permanent jobs and increased personal income,” the chamber wrote to the governor in a letter, which can be viewed here. “Additionally, expert analysis by Dr. Jim Richardson estimates 28% to 44% in net new sales tax collections to the state. Future sales tax collections for Livingston Parish are predicted to range from $27.9 million to $38.5 million, providing much-needed funds for the sheriff’s office, the school board and parish governmental agencies to facilitate the fast growing needs of the parish.””
Source: BusinessReport.com AM 06/12/2012
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