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The Economic Development Authority unanimously recommended creating TIF District 2026-1 to support Louisiana Pacific’s proposed 200,000-square-foot manufacturing facility, with a recommended $2.5 million incentive and an eight-year maximum duration. The EDA also approved an April 21, 2026, closing date for the related land purchase and authorized redemption of $3.535 million in 2017A bonds using land-sale proceeds, with no additional City or EDA funds required.
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The recommendation would use tax-increment financing, a tool that directs future property-tax growth from a development toward eligible project costs, to support the proposed manufacturing facility. The City Council must hold required public hearings and decide whether to establish the district. The land sale is expected to provide the money to redeem the existing bonds without requiring additional local funds.
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