The adoption of a Master Plan's concept is set to transform the outer limits of downtown Lafayette. The Lafayette Public Trust Financing Authority is eyeing the neighborhood of Mills Addition.
Laurie DeJean lives on Monroe Street. DeJean likes what she sees. She's trusting that the proposed for her neighborhood will bring more good than bad. “Hoping it's going to get back to the way it was when we were children.”
The Lafayette Public Trust Financing Authority met Thursday to look over the development projects proposed mainly within the bounds of Buchanan, South Pierce and Second streets. Architect Steve Oubre says mills addition is an older neighborhood.
Oubre believes the real estate that's being suggested for the areas will compliment what's already there. “A mix of product from rental to single family detached to single family townhouses.”
Oubre is even proposing that the financing authority consider commercial property such as a small grocery store near the uptown lofts. “Actually over the last 40 years that values have consistently depleted. Our goal is to begin a reverse cycle.”
A cycle that some residents welcome and others question. Oubre talks about increasing property values and property taxes. “We can freeze taxes for anyone older than 65 years old. These are propositions we need to float up the flag pole,” says Oubre.
“We want to restore all this and make it what it used to be,” says DeJean. The Lafayette Public Trust Financing Authority supports community development projects through self-generated revenues – and not city parish tax dollars.