2007-0015
INTRODUCED BY: CLAYTON "SNOOKIE" FAUCHEUX
COUNCILMAN AT LARGE, DIVISION B
RESOLUTION NO.
Title
A resolution requesting the U.S. Congress to support the Gulf Opportunity Zone Act of 2005 for all Louisiana Parishes with damaged structures in excess of 40%.
Body
WHEREAS, H.R. 4440 known as The Gulf Opportunity Zone Act of 2005 was passed by Congress on December 16, 2005; and,
WHEREAS, on December 21, 2005, President Bush signed into law H.R. 4440, establishing tax incentives and bond provisions to rebuild the local and regional economies devastated by Hurricanes Katrina and Rita; and,
WHEREAS, the incentives established in H.R. 4440 are intended to stimulate rapid, private investment with the Gulf Opportunity Zone, within the window of time provided; and,
WHEREAS, these incentives as stated in H.R. 4440 are so significant that any business considering an investment in any new, replacement or expanded operations within the Gulf Opportunity Zone should consider how to employ these incentives to the fullest extent possible; and,
WHEREAS, any changes, such as those stated in H.R. 6111, signed by the U.S. House of Representative and the U.S. Senate on December 8, 2006 and expected to be signed into law by President George Bush on December 20, 2006, will only deter the completion of capital projects especially in the new industry development business segment; and,
WHEREAS, St. Charles Parish, St. John the Baptist Parish, Tangipahoa Parish, Jefferson Parish, Lafourche and other coastal Parishes and South West Louisiana Parishes were left out of the Legislative extension but have not sufficiently recovered from extensive economic losses and require the aid of the tax incentives to facilitate continued recovery efforts.
NOW, THEREFORE, BE IT RESOLVED, THAT WE, THE MEMBERS OF THE ST. CHARLES PARISH COUNCIL, do hereby strongly request that the U.S. Congress support the Gulf Opportunity Zone Act of 2005 for all Louisiana Parishes with damaged stru...
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