The city of Lake Charles on Tuesday announced a full slate of infrastructure and quality-of-life projects coined LC REBOUND.

This series of investments will be a “generational, transformational moment” for the city, said Mayor Nic Hunter.

“I think that every community has certain watershed moments, and think that with what we’ve been through over the last few years, we are at one of those moments, and I think it’s important we take advantage of this opportunity.”

Some goals of LC REBOUND are to support economic growth and diversity in Lake Charles, expand workforce development, beautify the city, further improve infrastructure, increase tourism and enhance the all-around quality of life for residents.

The success of LC REBOUND hinges on two propositions that will be on the ballots this November. If approved, the two propositions will revamp the city’s tax structure by consolidating the four existing sales taxes into two sales taxes.

“LC REBOUND will bring the city’s current revenue structure into the 21st century. Our current model is complicated and antiquated. This restructure would help place the city in a much more secure financial position moving into the future and allow us to spend infrastructure dollars wisely and effectively,” Hunter said in a release.

This is a tax-neutral proposal, meaning the passing of the ballot propositions will not lead to tax increases. Lake Charles residents now pay a total sales tax rate of 10.2 percent. The city’s portion of that sales tax rate is 2.5 percent, and is composed of 2 one percent sales taxes and 2 one-quarter percent sales taxes.

On Nov. 18, voters will have the opportunity to vote to consolidate the sales tax rates into 1 two percent sales tax that will cover the city’s salaries and utilities and 1 one-half percent sales tax rate for a period of 25 years that will be used for infrastructure projects for the fire (department), police, public works and other city departments, as well as economic development.

According to an economic analysis completed by Dr. Daniel Groft, assistant professor of economics at McNeese and director of the H.C. Drew Center for Business and Economic Analysis, and Jim Richardson, professor emeritus at LSU, LC REBOUND will support 1,500 jobs over the next ten years and 1,700 jobs over the next 30 years.

Groft said the economic growth will lead to a higher population, a more diversified economy and higher local tax receipts, resulting in more funding for schools, roads and law enforcement, lower interest rates for borrowing and higher property values.

He believes that overall, LC REBOUND, and improved quality-of-life for residents, will be vital for future economic prosperity in the area.

“You want to retain employees, you want to encourage people to live here and you don’t want people to move to other areas to keep your economy moving into the long-term.”

Hunter also believes there is no better time than now to accomplish these goals. Within the next three years, the $90 million bond proposition that was approved following Hurricane Rita will be paid off, making financial space for new investments.

The LC REBOUND projects – including main road beautifications, park upgrades and what Hunter calls the “most aggressive drainage improvement program” in Lake Charles history – will cost over $190 million dollars. The city plans to contribute $143 million, utilizing $12 million in existing budgeted funds and $1 million in Community Development Block Grant funds. The city plans to bond out an additional $130 million.

Over $600,000 in private funding has already been committed to support LC REBOUND.

Hunter stated that the city will be seeking additional grant funding to supplement the projects.

Due to the complex nature of some of the projects, he estimates that all of the work should be done within 10 to 12 years. However, there are multiple projects that will be completed within the next few years.

The public is encouraged to send remarks and suggestions regarding the sales tax rate restructure proposal and LC REBOUND to mal@cityoflc.us.