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DEVELOPMENT BONDS

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TYPES OF PROJECTS THAT MAY BE
FINANCED BY THE BOARD

Industrial Development Boards are authorized pursuant to the provisions of Chapter 7 of Title 51 of the Louisiana Revised Statutes to issue revenue bonds to finance the acquisition and construction of "anti-pollution projects" and "development projects".

Anti-Pollution Projects
An anti-pollution project is defined by the Act as any property which abates, eliminates, controls or prevents air water or noise or other pollution, or controls or eliminates disposes of liquid and solid wastes, or removes or treats any substance or materials which otherwise would cause pollution or contamination of any kind. An anti-pollution project must be suitable for use by industrial enterprises; agricultural enterprises; commercial enterprises in storing, warehousing, or distributing products of agricultural, fishing, forestry, mining or industry, exclusive or retail or wholesale enterprise; research and development enterprises; or public utilities.

Development Projects
"Development project" means any land, easement, servitude, leasehold interest, or other interest or right in land, and any building or other facility or improvement thereon, including a single or multiple occupant office building or building complex, and all movable and immovable properties deemed necessary in connection therewith, including parking garages, whether or not now in existence, which shall be suitable for use by the following or by any combination of two or more thereof: any industry for the manufacturing , processing, or assembling of any raw, agricultural, semi-manufactured, or manufactured products; any commercial enterprise in storing, warehousing, distributing, or selling any products of agriculture, fishing, forestry, mining, or industry; business or professional offices; hotels; and any international, national, regional, or state offices of business or industry. "Development project" also means any other facility that is determined by an industrial development board to be instrumental to the removal of blight or the redevelopment of distressed areas, or to promote economic development through the creation of jobs, or to enhance the tax base of a community through the construction, renovation, or rehabilitation of improvements, but does not include facilities designed for the sale or distribution to the public electricity, gas, water, or telephone or other services commonly classified as public utilities. However, the Industrial Development Board of Lincoln Parish, Incorporated may acquire, own, operate, construct, lease, and, sell a water and sewerage system.

 

 
 
 
 
 

 

 

 

 

 

         

INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF NEW ORLEANS, LOUISIANA, INC.
 

Contact Us:
Sharon Martin - Administrator
Industrial Development Board of the City of New Orleans
1340 Poydras Street, Suite 1114
New Orleans, Louisiana 70112
Telephone: 504 658-4242 FAX: 504 617-6514
E-mail: mail@idbcno.com
Mail To:

P.O. Box 19996
New Orleans, Louisiana 70179