§130.314. Industrial development
A.(1) The district shall have the power to construct and acquire industrial parks and
industrial plant buildings, and subordinate and related facilities, including the acquisition of
sites and other necessary property or appurtenances thereto within the district, or outside the
district if the project is undertaken conjointly with another state or with other local units of
government, under the authority of the local services law, R.S. 33:1321 et seq., or other
authorizing authority, and to acquire, construct, improve, operate, maintain, and provide
improvements and services necessary therefor, including but not limited to roads, street
lighting, bridges, rail facilities, drainage, sewers, sewerage disposal facilities, solid waste
disposal facilities, waterworks, and other utilities and related properties.
(2) The district shall also have the authority to sell, lease, or otherwise dispose of,
by suitable and appropriate contract, to any enterprise locating or existing within the district
all or any part of a site, building, or other property owned by the district. In determining the
consideration for any contract to lease, sell, or otherwise dispose of lands, buildings, or other
property of the district, the board of commissioners may take into consideration the value of
the lands, buildings, or other properties involved as well as the potential value of the
economic impact of the enterprise being induced to locate or expand within the district. Such
economic impact shall include increased employment, increased use of local labor, wages
and salaries to be paid, consumption of local materials, products, and resources, and special
tax revenues to be generated by the enterprise acquiring or leasing lands, buildings, or other
property from the district. The board shall not dispose of any property of the district for less
than the fair market value of the property as defined in R.S. 47:2321, at the time of the sale,
lease, or contract arrangement without the prior approval of the State Bond Commission.
The district shall be empowered to enter into leases having a term, including all renewal
terms, not to exceed fifty years in the aggregate. The approval of the State Bond
Commission shall be conclusive for purposes of compliance with the requirements of this
Paragraph.
(3)(a) The board shall authorize any lease, sale, or other disposition of lands,
buildings, or other property of the district or any attachment thereto by resolution or
ordinance. Any such resolution or ordinance adopted by the board of commissioners shall
set forth, in a general way, the terms of the authorized lease, sale, or other disposition, and
such resolution or ordinance shall be published as soon as possible in one issue of the official
journal of the district.
(b) For a period of thirty days from the date of publication of any such resolution or
ordinance, any interested person may contest the legality of such resolution or ordinance or
the validity of the authorized lease, sale, or other disposition of district property, after which
time no one shall have any cause of action to contest the legality of said resolution or
ordinance or to draw in question the legality of the authorized lease, sale, or other disposition
of district property for any cause whatsoever, and it shall be conclusively presumed thereafter
that every legal requirement has been complied with and no court shall have authority to
inquire into such matters after the lapse of said thirty days.
B. The district shall have the following additional powers, together with all powers
incidental thereto or necessary for the performance of those hereinafter stated:
(1) To acquire, whether by purchase, expropriation, exchange, gift, lease, or
otherwise, and to construct and improve, maintain, equip, and furnish one or more economic
development projects, including all immovable and movable properties which the board of
commissioners may deem necessary in connection therewith.
(2) To lease or to contract for the use of any or all of its authorized projects and to
charge and collect rent, fees, or charges therefor, and to terminate any such lease or
contractual arrangement upon the failure of the lessee or contracting party to comply with
any of the obligations thereof all as may be provided for in the lease agreement to which the
district may become a party.
(3) To sell, exchange, donate, and convey any or all of its projects upon such terms
and conditions as the board of commissioners may deem advisable, including the power to
receive for any such sale the first mortgage note or notes of the purchaser of a project
representing unpaid installments of the purchase price due by the purchaser to the district
whenever the board of commissioners finds any such actions to be in furtherance of the
purposes for which the district was organized.
(4) As security for the payment of the principal of and interest on any bonds, notes,
or other obligations of the district and any agreements made in connection therewith, to
mortgage and pledge any or all of its projects or any part or parts thereof, whether then
owned or thereafter acquired, and to pledge the revenues and receipts therefrom or from any
other source.
(5)(a) To enter into any cooperative financing of an economic development project
between or among the district and the state, any of its local governmental subdivisions,
political corporations or public benefit corporations, the United States or its agencies, or any
public or private association, corporation, or individual. Said methods of financing shall
include loans, loan guarantees, land write-downs, grants, lease guarantees, or any form of
financial subsidy or incentive that complies with the provisions of Article VII, Section 14 of
the Constitution of Louisiana.
(b) To enter into any cooperative development between or among the district and the
state, any of its local governmental subdivisions, political corporations or public benefit
corporations, the United States or its agencies, or any public or private association,
corporation, or individual. Said methods of cooperative development shall include but not
be limited to any number of joint development agreements such as condominiums and
cooperative ownership, limited partnerships, and investment syndicates not prohibited by the
Constitution of Louisiana. Regardless of the method of financing, the district shall attempt
to obtain the most favorable security available in order to protect and ensure recovery of
sums loaned or paid pursuant to such financing.
(c) "Cooperative endeavor" means any form of economic development assistance
between or among the district and the state, any of its local governmental subdivisions,
political corporations or public benefit corporations, the United States or its agencies, or any
public or private association, corporation, or individual. The term "cooperative endeavor"
shall include but not be limited to cooperative financing, cooperative development, or any
other form of cooperative economic development activity.
C. The district shall not enter into or amend joint service agreements, cooperative
endeavor agreements, or other contractual agreements without the approval of the city
council.
Acts 1991, No. 723, §1; Acts 2020, No. 194, §1.