Arnold (HB 327) Act No. 148 Existing law creates the Algiers Development District as a special taxing district comprised of all territory within the 15th ward of Orleans Parish. Provides that for federal purposes of military base realignment, the district shall be considered a local redevelopment authority. Provides that the city council of New Orleans, or its successor exercising the legislative powers of the city, shall have such power and control over, and responsibility for, the functions, affairs, and administration of the district as are prescribed. Provides that the district shall be governed by a seven-member board of commissioners. Existing law provides for the powers and duties of the district, including the power to acquire, to lease, to insure, and to sell real property within its boundaries. New law authorizes the district to acquire, lease, insure, and sell immovable property within its boundaries. Additionally authorizes the district, with respect to immovable property owned by it and that either was formerly owned by the U.S. Dept. of the Navy and known as Federal City or is immediately contiguous thereto, to lease, insure, mortgage or hypothecate, donate, or sell the property or otherwise contract with respect to the management and development of the property in order to fulfill its mission as a redevelopment authority. Specifies that the contiguous property referred to in new law means property owned by the district on April 1, 2013. New law provides that in order to facilitate the redevelopment of Federal City property, the district is not required to follow any other provision of law applicable to the sale, lease, or donation of property owned by a public body or for contracting with respect to the property. New law additionally provides that the district is not required to receive the approval of any other public entity or agency in order to take any action pursuant to new law. Requires the district, however, to comply with all applicable zoning and permitting ordinances of the city of New Orleans in developing property pursuant to new law. Additionally requires that property be developed in accordance with a master plan approved by the district, a joint development committee for Federal City, the La. Dept. of Economic Development, and the commissioner of administration. New law requires that the assets and income derived from the development of property pursuant to new law be used solely for the benefit for the district and all projects within the district. New law authorizes the district to delegate its authority to make decisions necessary to carry out the provisions of new law to a committee composed in whole or in part of district board members. Additionally authorizes the district to reserve any authority it deems necessary. Effective upon signature of governor (June 7, 2013). (Amends R.S. 33:2740.27(H))