DDA Statement re: Old Federal Courthouse Redevelopment
The Downtown Development Authority fully supports of the redevelopment of the Old Federal Courthouse site. The proposal pending before this Council is consistent with both the objective of the DDA enabling statute and the mission of DDA, which is to foster, facilitate and enable the physical, economic and cultural vitality within the Downtown District.
In recent history, the DDA and LCG have secured multiple studies and opinions addressing the best path to develop our downtown to better ensure its viability going forward. Overwhelmingly, the answers include residential and retail development. The proposed development does just that.
Additionally, we support this development because:
- The DDA has objective reason to believe that this development will operate as a significant development stimulus to attract further growth in and near the Downtown District.
- Providing more Downtown residential options will also help attract the talented professionals we need to help our businesses thrive and our economy grow.
- Putting this property back into commerce would have significant financial benefits for the City and the Parish by generating new property tax revenue, as well as saving the City annually on maintenance and liability costs.
For these reasons, we urge the Administration and City-Parish Council to work together to move this project forward.
Lafayette City-Parish Council Meeting
City Hall (705 W University Ave.)
Tuesday, November 20th | 5:30 PM