The Metro Council on Wednesday approved a cooperative endeavor agreement with the newly created Cortana Corridor Economic Development District, which seeks to revitalize the area via an increase in sales tax revenues generated by the redevelopment of the Cortana Mall site into an Amazon distribution facility.
The new district, which was created earlier this summer by Build Baton Rouge, is expected to generate at least $1.5 million over the next five years in additional or incremental sales tax revenues—a projection based off of the current $5 million a year in tax revenues generated in the area.
That money will fund four tiered levels of projects, with higher-level projects getting funded first. They include:
• A comprehensive master plan for the redevelopment of the Cortana Corridor