Lafayette Downtown Development Authority
The Lafayette Downtown Development Authority (DDA) is the outcome of the Old Town Tomorrow: The LURA Transition Project. The tax increment financing (TIF) that funded the Lafayette Urban Renewal Authority (LURA) activities, which oversees improvement efforts for the Old Town area, expired in October 2024. The Old Town Tomorrow project aimed to work with community leaders to identify a new organizational and financing approach to lead Old Town management and improvement efforts for the next 30 years.
The Old Town Tomorrow project evaluated four possible organizational and financing scenarios. The project team identified a Downtown Development Authority (DDA) as the entity most likely to deliver on the community's vision for Old Town. They concluded that a DDA could support businesses, serve as a unified voice for Old Town, and continue revitalizing Lafayette’s downtown for years to come.
The Lafayette City Council approved an ordinance referring the Lafayette DDA to be on the November 2024 General Election ballot. The ballot measures were approved by the majority of eligible voters in the DDA boundary and passed, leading to the formation of the DDA and it's ability to use tax increment financing to collect revenue and fund its activities.
DDAs are quasi-governmental entities that provide both organization and financing for downtown revitalization efforts. They are different from Urban Renewal Authorities as they can be uniquely tailored to address the specific needs and challenges of Old Town Lafayette. This includes providing small business support, place enhancements, marketing, events, economic development, and public improvements that focus on creating a vibrant downtown. DDAs facilitate partnerships with businesses, property owners, civic partners, and the city to create a self-sustaining organization designed to champion the downtown for the long term. It operates in an accountable and transparent manner and has greater financing potential to deliver public realm improvements and resources for small businesses. A DDA is funded through tax increment financing, which is not a new tax and does not raise existing taxes.
Read the DDA Fact Sheet and DDA FAQ to learn more.
The draft Old Town Tomorrow Action Plan is a guiding document that will serve as the "plan of development" for the Lafayette DDA, as required by the state statute. It was developed after extensive community outreach and is based on the City's Comprehensive Plan and other adopted strategic plans. This plan will provide guidelines for projects and improvements that the DDA can fund. It sets forth goals and strategies in six priority areas:
Read the draft Old Town Tomorrow Action Plan and the Executive Summary. With the successful DDA election, the City will continue outreach and finalize the plan for City Council adoption in Q1 2025.
The quick poll and survey closed on Dec. 23, 2024. Stay tuned for updates!
