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Public forum on tap for V-Vehicle property tax
The proposed V-Vehicle property tax will be discussed by local officials Thursday, Oct. 8, at a public forum sponsored by Garden District Neighborhood Alliance.
The forum will be held at the main branch of the Ouachita Parish Public Library, located on North 18th Street in Monroe. It will begin at 6 p.m.
Monroe Mayor Jamie Mayo, West Monroe Mayor Dave Norris and Ouachita Parish Police Jury President Shane Smiley will be on hand to discuss the V-Vehicle property tax, which will appear on the Oct. 17 ballot.
The public is encouraged to attend to learn more about the proposed property tax as well as the economic development efforts of V-Vehicle.
Voters on Oct. 17 will be asked to approve a 1.8-mill property tax to pay for the financial obligation local governments pledged to help lure the V-Vehicle automotive manufacturing company to Ouachita Parish.
The cities of Monroe and West Monroe as well as the police jury agreed to contribute toward a $15 million incentives package to help lure V-Vehicle to the former Guide plant in eastern Ouachita Parish.
Besides the local $15 million incentives package, the state committed some $134 million in incentives for V-Vehicle.
The proposed property tax the police jury will ask voters to approve in October cannot be assessed for more than 15 years and will only cover the $12.45 million obligation of the two cities and the police jury. Once the local obligation is fulfilled, the property tax must be canceled. That is expected to occur within eight years.
OEDC Land Corp. and the I-20 Economic Development Corp. will pay the remainder of the $15 million
V-Vehicle announced this summer it would take over the former Guide plant off Interstate 20 east of Monroe, creating 1,400 new, direct jobs and 1,800 indirect jobs.
V-Vehicle says it will manufacture fuel efficient automobiles at the former Guide facility. |
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