The bill amends R.S. 33:2740.3, which governs the Downtown Development District (DDD) in New Orleans, by reducing the board of commissioners from nine to five members who must be qualified voters with a principal place of business or property ownership in the district. It introduces a confirmation requirement for board members by the New Orleans city council and establishes a new appointment structure that includes nominations from local organizations. The bill also outlines a process for filling vacancies and mandates that board members submit an annual affidavit confirming their business or property ownership in the district. Additionally, the board's responsibilities are expanded to include preparing plans for public improvements and services, particularly focusing on public safety and homelessness, while requiring annual presentations to the city council regarding expenditures.

Moreover, the bill modifies the operational and financial management of the core area development district by allowing the board to enter into contracts with the city for services and capital improvements, funded by a special tax on real property or bond proceeds. It removes the need for prior approval from the mayor and city council for certain services, enabling the board to contract directly with other entities. The bill also authorizes the city council to levy a special ad valorem tax for up to fifty years, with proceeds dedicated to the district's purposes, and grants the city the authority to incur indebtedness and issue bonds for the district, ensuring these bonds are not general obligations of the city and requiring voter approval for the maximum tax and bond amounts.

Statutes affected:
SB364 Original: 33:3(B), 33:3(J)
SB364 Engrossed: 33:3(B), 33:3(J)
SB364 Reengrossed:
SB364 Enrolled:
SB364 Act 520:
Senate Floor Bureau Note, #1778, Harris, Jimmy, Adopted: