Economic Development Districts (EDD)
LPTFA is proud to collaborate with local partners to administer and support Economic Development Districts (EDDs) in Lafayette. These districts are instrumental in driving economic growth, improving infrastructure, and enhancing quality of life.
What Are Economic Development (EDD) Districts?
Economic Development Districts (EDDs) are specialized zones established under Louisiana Revised Statutes (La. R.S. 33:9038.31, et seq.) to promote economic growth and public benefit. The districts are designed to:
- Stimulate private investment through targeted public infrastructure improvements.
- Eliminate blighted areas and encourage sustainable development.
- Create jobs and enhance quality of life.
EDDs leverage mechanisms like sales and hotel occupancy tax increments to finance projects that would otherwise not be feasible. These districts are instrumental in fostering public-private partnerships, revitalizing neighborhoods, and enabling large-scale projects that benefit the broader community.
The Role of the EDD Boards
Each EDD is governed by a board composed of Lafayette City Council members, acting as the district’s governing authority. The board is responsible for:
Setting strategic priorities for the district.
Reviewing and approving project applications.
Overseeing the allocation of resources.
LPTFA serves as the administrator for these districts, implementing board directives, managing daily operations, and ensuring compliance with cooperative endeavor agreements (CEAs) and state regulations. Our role is to carry out the vision of the board with transparency and professionalism.
How EDDs Operate
EDDs are established by ordinance under Louisiana law, with clearly defined boundaries approved by the Lafayette City Council.
Districts levy incremental taxes on sales and hotel occupancy within their boundaries. These taxes are used exclusively for funding economic development projects.
The EDD board evaluates proposed projects, ensuring alignment with community priorities, legal requirements, and economic goals.
LPTFA manages the district’s activities, including financial oversight, project facilitation, and reporting, per agreements like the Cooperative Endeavor Agreement (CEA) and Administrative Services Agreement.
Our Guiding Principles
The U.S. Economic Development Administration emphasizes that economic development is about partnerships, innovation, and long-term sustainability. These principles guide Lafayette’s EDDs to:
- Foster collaboration between the public and private sectors.
- Prioritize equitable development that benefits all residents.
- Enhance infrastructure to attract and retain businesses.
By combining local governance with the administrative expertise of LPTFA, Lafayette’s EDDs are uniquely positioned to transform underutilized areas into thriving economic hubs.
Economic Development Districts
Downtown Lafayette EDD
• Established: December 17, 2019
• Focus Areas: Infrastructure upgrades, tourism, and small business development.
• Key Projects: Streetscape improvements, pedestrian enhancements, and retail space revitalization.
Holy Rosary EDD
• Established December 17, 2019
• Focus Areas: Historical restoration, housing, and cultural initiatives.
• Key Projects: Restoration of the Holy Rosary Institute and neighborhood redevelopment, enhancements, and retail space revitalization.
Northway EDD
• Established: December 17, 2019
• Focus Areas: Commercial revitalization and infrastructure improvements.
• Key Projects: Streetscape projects, adaptive reuse, and new mixed-use developments.
Trappey EDD
• Established: December 17, 2019
• Focus Areas: Mixed-use development, recreation, and beautification.
• Key Projects: Riverfront promenade, bike paths, and hospitality projects.
University Gateway EDD
• Established: December 17, 2019
• Focus Areas: Enhancing pedestrian connectivity, safety, and commercial corridors.
• Key Projects: Upgrades along University Avenue, blight reduction, and support for local nonprofit initiatives.
Upcoming Meetings and Events
EDDs host regular quarterly and project meetings to discuss ongoing initiatives, approve projects, and conduct business for each district. Meetings are open to the public.
- Next Quarterly Meeting: April 22, 2025
- Location: City Council Auditorium, 705 W University Avenue, Lafayette, LA
- View Full Meeting Schedule
Community members and developers interested in proposing a project within an EDD can submit an application.
- Request an Application: Submit Your Request
- Guidelines: Applicants must demonstrate how their project aligns with district goals and provides measurable public benefits.
How EDDs Benefit Lafayette
• Public Infrastructure: Upgraded streets, utilities, and transportation systems
• Economic Growth: Increased business activity and job creation.
• Community Revitalization: Removal of blight and enhancement of public spaces.
Get Involved
Have a vision for Lafayette’s future? Your input is vital to the success of EDDs.
Contact Information
For more information about EDDs or LPTFA’s role, please reach out:
Email: [email protected]
Phone: 337-504-2314
Mailing Address:
Lafayette Public Trust Financing Authority
200 West Second Street
Lafayette, LA 70502