1. A. The following addendum documentation must be submitted with the application:

   1. 1. proof of ownership: act of sale or option to acquire the property;
   2. 2. a legal property description, from proof of ownership (suitable for insertion into the exemption contract―retype if necessary), a plot map; a copy of the building permit issued for the project;
   3. 3. picture of the structure before beginning the project and a rendering of the structure as it will appear after completion of the project;
   4. 4. names and addresses of all owners, including the general partner(s) or, the principal stockholders of the corporation;
   5. 5. the assessed value of the structure only (improvements) and the taxes paid on the structure only, prior to the commencement of the project;
   6. 6. a copy of the tax invoice for the year prior to commencement of the project from the parish assessor;
   7. 7. written correspondence from the local governing authority certifying that the structure is in a downtown development district, an historic district, or an economic development district specifically designated as such for this program.

2. B. For projects at owner-occupied residences, in addition to submitting the required addendum documentation, the following are required:

   1. 1. a statement certifying that the minimum rehabilitation cost incurred to the owner-occupied residence project will be equal to or greater than 25 percent of the assessed valuation of the improvements located on the property prior to the commencement of the expansion, restoration, improvement, or development; and
   2. 2. a statement certifying that the owner-occupied residence project will be completed within a 24-month period.
3. C. The project period for residential projects shall not exceed 24 months beyond the project start date.
4. D. The project period for commercial projects shall not exceed 24 months beyond the project start date unless a separate application is filed for an additional 12-month phase prior to the ending of the prior phase, but in no instance shall the project period exceed 48 months.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:4311-4319.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Commerce, Office of Commerce and Industry, Finance Division, LR 11:98 (February 1985), amended LR 12:665 (October 1986), amended by the Department of Economic Development, LR 18:253 (March 1992), amended by Louisiana Economic Development, Office of Economic Development, LR 52:984 (June 2026).