Changes the definitions of "transit-oriented development" and "multifamily residential housing" for purposes of the La. Enterprise Zone Act (EN -$46,113 GF RV See Note)
Impact
The changes proposed in HB91 are significant as they aim to clarify and potentially expand the criteria under which developers can qualify for incentives under the Louisiana Enterprise Zone Act. By establishing clear definitions, the bill addresses the varying interpretations that may have existed concerning what constitutes multifamily housing and transit-oriented developments, thereby fostering a more consistent approach to urban planning. If passed, this bill could stimulate new developments, leading to more housing options and retail opportunities in transit-rich areas, ultimately benefiting urban residents and local businesses alike.
Summary
House Bill 91 aims to amend the definitions related to 'transit-oriented development' and 'multifamily residential housing' under the Louisiana Enterprise Zone Act. By defining 'multifamily residential housing' as having between 90 to 175 attached dwelling units and specifying that 'transit-oriented development' must consist of at least 50% multifamily housing along with at least 15% commercial or retail facilities, HB91 seeks to enhance urban development strategies that align with public transportation hubs. This amendment is designed to encourage investment in mixed-use developments, ideally improving local economies by promoting residential growth near transit services.
Sentiment
The sentiment around HB91 appears to be cautiously optimistic among supporters, particularly among urban planners and developers who see the potential for growth and improved infrastructure through clear definitions provided by the bill. However, there may also be concerns from local communities about the implications of increased development, including potential impacts on traffic, environmental sustainability, and the preservation of existing neighborhoods. The discussion surrounding the bill implies a need to balance economic growth with community needs.
Contention
Notable points of contention related to HB91 revolve around the specifications of the definitions. Some stakeholders might argue the limits placed on the number of dwelling units and the percentages required for commercial facilities might not align with all local development scenarios. Additionally, there may be discussions on whether the incentives sufficiently address the needs of lower-income housing and if the definitions could be restrictive or overly prescriptive, potentially stifling innovative urban development strategies.