Lafayette board gives tax incentives to lure in Costco - KNOE 8 News; KNOE-TV; KNOE.com |

Lafayette board gives tax incentives to lure in Costco

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LAFAYETTE, La. (AP) - Lafayette Industrial Development Board has approved an estimated $11.5 million in tax incentives for roads, traffic signals, utilities and other infrastructure needed for a planned 58-acre retail center anchored by Costco.

Work is scheduled to begin in November on Ambassador Town Center.

Lead developer Stirling Properties has not confirmed what other stores are planned for the site, only to say that it could be the first Louisiana location for some of the tenants.

The board approved Tuesday an agreement allowing developers to use money that would have been paid in property taxes to instead be used to repay the cost of infrastructure in and around the retail center.

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