LAC 13:I.921. Contract Renewal

A. Contracts may be renewed, subject to the same conditions, for an additional five years extending such right for a total of 10 years from completion of the project. B. In order to be eligible for renewal of an existing contract the Project Completion Report and affidavit of final cost, contract addendum documents, must have been filed for the original contract; taxes cannot have been paid on the improvements pursuant to R.S. 47:4315.A.(4); and a renewal application form shall be submitted within six months prior to the expiration date of the original contract. The following documentation should be submitted: 1. a written, notarized certification from the applicant, referencing the original application/contract number, that "taxes have not been paid on improvements exempted under contract number (number), for (owner name), pursuant to R.S. 47:4315, Paragraph A.(4) and the Restoration Tax Abatement Program Rules"; and 2. a renewal fee, pursuant to R.S. 36:104, paid through the department’s online portal. C. The same approval process, as used for the original application and contract, will be followed for renewal contracts. Applications must first be filed with LED. They will then be sent to the local governing authority for approval. If approved by the local governing authority, the application will be submitted to the board.