DENHAM SPRINGS — The City Council will hold a public hearing Nov. 7 on a proposed new economic development district across the street from Bass Pro Shops.
The Springs at Riverside Landing will encompass 33 acres between Bass Pro Boulevard and Vincent Road just south of Interstate 12 at Range Avenue.
The city annexed 18 acres earlier this month to form part of the new development district.
The mixed-use development will include 355,000 square feet of retail and commercial space at an estimated project cost of $65 million.
Developer Jacob Fa-Kouri, who also spearheaded the Bass Pro development, intends to use tax-increment financing to help fund the project.
TIF plans to redirect sales tax revenue collected within a district to development projects, such as Bass Pro and Juban Crossing.
The Springs at Riverside Landing TIF would include the levy of a new one-cent sales tax to back as much as $16 million in revenue bonds for drainage, parking, lighting and other infrastructure related to the development, according to the ordinance.
The City Council would serve as the district’s governing authority, with the chairman of Livingston Parish Gravity Drainage District 1 serving as a nonvoting member.
If the ordinance is approved Nov. 7, the Springs at Riverside Landing governing board will hold its first meeting immediately following the City Council meeting that evening, Mayor Jimmy Durbin said Monday.
On the agenda for the board’s first meeting will be the election of officers and the approval of a cooperative endeavor agreement between the development district board, Gravity Drainage District 1 and the developer, Durbin said.
The public hearing will be held at 6 p.m. in the courtroom of the Denham Springs Municipal Building, 941 Government Drive.