Tax increment finance ACTIVE

The district, acting through the commission, may enter into a cooperative endeavor agreement with the parish of Jefferson or any municipality inside its boundaries in order to pursue tax increment finance under the provisions of R.S. 33:9038.1 et seq., hereafter in this Section referred to as the "TIF law". Upon the execution of such a cooperative endeavor agreement, the parish of Jefferson or any municipality with a population in excess of that permitted by the TIF law shall have all powers of a local governmental subdivision under the TIF law. Such a cooperative endeavor agreement may declare the district to be a "local governmental subdivision", a "district", or "issuer" within the meaning and for the purposes of such laws. The use of any ad valorem tax, sales tax, or hotel occupancy tax pursuant to the TIF law shall in each case be approved by the Jefferson Parish Council or the municipality so involved.