The New Iberia City Council will hold a special meeting after its regular meeting Tuesday to vote on activating a TIF district along Louisiana 182.
The resolution to be voted on will publicize a notice of intention to to levy taxes within New Iberia Highway 182 Economic Development District 1. The district is one of two Tax Increment Financing districts that city administration is attempting to levy for the purpose of creating tax increment finance districts.
If voted on, the TIF District would include businesses along Louisiana 182 near the end of the city limit, and will include places like Spanish Market and Emerald’s Billiards. The sales tax would only apply to businesses and would be used to create incentives in business development particular to that area.