Posted: May 21, 2012 4:42 PM by Mike Steele
Updated: May 21, 2012 4:42 PM
BATON ROUGE- A bill creating a new tax district around the Juban Crossing development is one step closer to final approval.
The Louisiana House Appropriations Committee approved the bill, which keeps revenue from a one-cent sales tax at the site to pay for things like sewage and drainage improvements.
Land for part of the Livingston Parish site has already been cleared. Most other work has been stalled for the past several months. The development will include both retail and residential attractions.
Lawmakers who support the plan said the downturn in the bond market caused the delays. They call the I-12 corridor one of the hottest retail areas in the country.
The bill will now go to the House floor, and If fully approved construction could resume by the end of July.