Posted: May 30, 2012 7:22 AM by AP
GONZALES, La. (AP) - The Gonzales City Council has voted unanimously to enact a 1-cent sales tax increase at Tanger Outlet Center as part of a new economic development agreement.
The Advocate reports the tax increase, to be collected through the newly created Tanger Mall Economic Development District, will go into effect July 1 and have a 20-year life span.
Revenue from the new tax, approved Tuesday, will be split, with Tanger receiving 70 percent of the additional income.
Mayor Barney Arceneaux said the city will use its 30 percent share of the collections to improve infrastructure near the shopping center.
Arceneaux says Tanger will use its share to fund an additional 30,000 square feet in retail space at a cost of about $10 million.