Our Mission To transform the quality of life for all citizens who live, work and play in East Baton Rouge Parish by returning blighted properties to productive use, fostering redevelopment through facilitating partnerships, and creating a vibrant, globally competitive community while preserving character of place. Background The East Baton Rouge Redevelopment Authority (RDA) was created by the 2007 Louisiana Legislature. We are governed by a five-member Board ofCommissioners, appointed by the Mayor-President, Baton Rouge Area Foundation, and Baton Rouge Area Chamber. Our goals are to transform the quality of life for all citizens; foster redevelopment in disinvested areas; facilitate partnerships; create a vibrant, competitive community; and preserve and enhance sense of place.
The RDA began operations in February 2009 with the following priorities for its first year: • Organizational development;
• Project development; and
• Community engagement and partnership building.
With these goals and priorities in mind, we carefully assembled a staff of twelve, and canvassed the Parish to view underserved areas and gain a better understanding of citizens’ visions, concerns, and priorities. This on-the-ground research revealed critical needs in our community that we started to address in the our first three years, such as attainable housing, gap financing, home and small business rehabilitation, brownfields redevelopment, and neighborhood planning. Together with our citizens and elected officials, we will continue to build a better East Baton Rouge Parish. RDA Business Plan Click Here
In December 2009,
the East Baton Rouge Community Development Entity, LLC (“EBRCDE”), a partnership between the City of Baton Rouge-Parish of East Baton Rouge and the East Baton Rouge Redevelopment Authority, was awarded a New Markets Tax Credits allocation of $60 million.
The New Markets Tax Credit (“NMTC”) program provides investors with federal tax credits for making investments in a wide range of businesses located in low-income communities. The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. The tax credits can be deployed to support a wide array of real estate development projects.
The EBRCDE serves the entire Parish of East Baton Rouge, Louisiana. It will deploy its Tax Credits through an implementable strategy, focusing on real estate development projects that provide community services, additional goods and services, and/or support development of affordable housing and the elimination of blight. The recent NMTC allocation will allow EBRCDE to offer financing with interest rates at least 50 percent below market, and passive equity investments equal to 25 percent of loan amounts. The East Baton Rouge Redevelopment Authority (“RDA”) serves as Manager of the EBRCDE.