Shreveport's Senator Sam Jenkins pushed through the Louisiana Legislature this past session that can provide Shreveport in its assistance efforts. This legislation will be invaluable to the City and to SIRA--the Shreveport Implementation and Redevelopment Act--once signed by Gov. Landry.
The State Land Banking Authority Act (SLBAA) creates a framework for local governments to establish land banking authorities. These authorities are nonprofit entities designed to address economically and physically depressed areas by acquiring, rehabilitating, and managing abandoned and dilapidated properties.
The bill allows municipalities or parishes to create a land bank authority, either individually or through an intergovernmental agreement, with the primary goals of eliminating blighting influences, preventing tax abandonment and revitalizing struggling neighborhoods.
Key provisions include empowering the authorities to acquire tax delinquent or adjudicated properties, rehabilitate and sell or lease these properties, issue bonds to finance their operations and operate with significant flexibility while remaining subject to local government oversight.
The authorities are granted broad powers such as entering into contracts, receiving grants, contracting for services, and managing properties. The authorities cannot impose taxes or use eminent domain.
The bill also includes detailed provisions about the authorities' governance, including board composition, ethical standards, and reporting requirements. The bill ensures that the authorities are exempt from certain taxes while ensuring that properties sold or leased are returned to the tax roll when possible.
This legislation certainly addressed major issues Shreveport has in many neighborhoods. Senator Jenkins is be commended for addressing a growing problem throughout the state.