Photograph: Creswell Lane in the south part of Opelousas
BOBBY ARDOIN
Editor/Consulting Writer
Opelousas city officials and representatives from two economic districts have begun discussions that could eventually include additional sales taxes for customers who shop at businesses on Creswell Lane.
Initial plans for establishing a tax increment funding district along Creswell are centered around providing additional funding that will allow implementation for a Phase 1 South City park enhancement plan, according to Lena Charles, chairperson for the Downtown Development District.
Charles and Bill Rodier, executive director for the St. Landry Parish Economic Development District, said that potentially creating the TIF for Creswell was discussed at a monthly DDD meeting held Friday morning.
Other agenda items included an update on the Waillor Street turning lane and water project, a downtown city ordinance proposal and a consultant’s report on the park project.
TIF funding, according to several definitions provided by Google, is an economic development tool used to acquire additional revenues that subsidize specific types of development.
The DDD has previously created TIF funding for several Opelousas national chain store businesses which have added an additional 1-percent sales tax in order to provide revenues for downtown development.
Charles said if approved by the DDD, the proposed Creswell TIF would add an additional sales tax percentage in order to secure more funding for the park improvement program that will require revenue for maintenance and bond funding requirements.
“We have just started discussing this, so nothing has been finalized. We are not sure whether we want to collect a whole cent additionally or go with a lower amount. What we won’t do is affect the small, independent businesses with any more tax,” Charles said in an interview.
The Creswell Lane retail sector also includes nationally-recognized businesses such as Burger King, McDonald’s, Wendy’s, several convenience stores, a McAlister’s Restaurant, Rose’s Express and a Goodwill retail outlet.
Charles said the city administration at this point does not have enough revenue to maintain any of the projected newer facilities and or supervise the improvements that have been mentioned as part of the Phase 1 plan which includes constructing an eight-lane track around Donald Gardner Stadium and laying down an artificial surface for football and soccer.
A recent escalation in interest rates for bond money has made the Phase 1 project more expensive, said Charles.
“We have talked about this for two years. Back then the interest rate was at zero percent. Now it’s at five percent. What we need to know right now is more of the exact cost for Phase 1, whether we want to go ahead, create a TIF and understand what process we need to go through in order to do that,” Charles said.
