Industrial Development Board
The Industrial Development Board of the City of New Orleans, LA, Inc. (“IDB”) is committed to building and re-building a better New Orleans. Its primary mission is to assist in the creation of new projects and the revitalization of existing sites.
The IDB is a public corporation. It is an instrumentality of the City, created by the City Council giving it the ability to issue taxable and tax-exempt revenue bonds and other obligations to acquire land, construct, purchase or renovate buildings, to acquire and install machinery and equipment and to finance any other economic development efforts. The IDB can issue revenue bonds without the necessity of calling a public election or having a public sale of bonds. Financing undertaken by the IDB often results in below market interest rates and/or a negotiation of ad valorem tax obligations, termed as PILOT (Payment In Lieu Of Taxes).
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