Members of the newly created Industrial Development Bond Board of the City of Minden will get the ball rolling at its first meeting Thursday.
The meeting, set for 10 a.m., will focus mainly on electing officers, setting a regular meeting date, discussion of bylaws and legal authority.
Minden Economic Development Director James Graham says the meeting will be important to a number of professions.
“It’s going to be an orientation for the IDB,” he said. “While it’s an orientation, hopefully it will be informational for the people who attend. Particularly, it’s important for those who own property and want to develop it or sell it. It’s important to realtors, and it’s important for CPA’s and attorneys. We sent out special invitations, because we wanted to make sure certain professions were represented.”
The IDB was created upon the adoption of a resolution by the Minden City Council June 6. The board is made up of five members, each from one of the five Tax Increment Financing Districts: Jean Davis for a two-year term, Rance Foster for a four-year term, Greg Jones for a four-year term, Craig Farley for a six-year term and Mahala Hutto for a six-year term.
The TIF districts offer economic development incentives to new business as well as assisting existing businesses.
The board will have the authority to offer Payment In Lieu of Taxes, or PILOT, as an economic incentive to entice new business to Minden.
The meeting will be in the Pelican Conference Room, at Minden City Hall, located at 520 Broadway Street.