Housing (Economic Development)

HB 465 creates the Violet Economic Development District in St. Bernard Parish, Louisiana, specifically targeting the Violet area for coordinated economic growth. The district, governed by a 9-member board including local officials and community representatives, will use tax revenue from future property value growth (via state sales tax increment financing) to fund infrastructure, housing, workforce development, and community priorities. It directly affects residents and businesses within the defined boundaries, aligning with opportunities related to the Louisiana International Terminal. The bill establishes clear governance rules and transparency requirements for how funds are reinvested locally.