Mayor Mitch Landrieu is opposed to a bill in the Louisiana Legislature right now that would give tax credits to developers of low-income housing projects.
The bill would make building low-income housing more cost-effective, but the city would lose out on $2.8 million in property taxes.The bill sailed through a house committee Monday, but the Landrieu administration has expressed firm opposition.
The administration argues that property tax breaks should be negotiated within the city, not state-wide, citing a housing community for veterans in Gentilly that negotiated payment with the city in lieu of tax credits.
• Landrieu administration will fight tax protection for low-income housing developers [NOLA.com]
• Tax protection for developers of low-income housing sails through committee [NOLA.com]
• Homes for post-9/11 veterans in Gentilly nearing construction [NOLA.com]