LAKE CHARLES, LA (KPLC) - In a unanimous vote tonight, Lake Charles city council approved the expansion of the Nellie Lutcher cultural district.
The expansion would include the property that will house a future food hall right off of I-10 on Ryan Street.
As Lori Marinovich—the city’s assistant director of planning—explained, adding this property to the district will give the property owner access to state and federal income credits for the restoration of a historical property.
“We’re trying to extend the cultural district so as they move through the process to get their building designated as a national-registered property, this incentive will be place at that time so they can use it for their restorations," Marinovich said.
The incentives are not only beneficial to new investors, but Marinovich said, in turn, these incentives are beneficial to the surrounding community they encourage growth.
Marinovich said, “These are income tax credits that these developers use. Like I said, they’re very valuable. They can be brokered or they can use them with their investments. When you look at a property like this and you look at the opportunities, you have several. So, that developer is able to use all of that leverage funding to help meet the challenges of actually renovating a very historic building.”
Marinovich said because this expansion is along the interstate corridor, it’ll promote further development in the Nellie Lutcher Cultural District and into the downtown area as well.
According to the developers, after the groundbreaking this summer, the food hall can be expected to open sometime in 2020.