(The Center Square) – In a recent Caddo Parish School Board meeting, the board approved a proposed $38,000 annual property tax exemption for the next five years for Lubrication Technologies Inc.
However, this approval didn’t come without some questions about what the parish would get back in return.
Amidst residents flocking to the polls for early voting, one resident spoke at Caddo Parish School Board meeting to express concerns over the parish asking for four millage renewals while subsequently voting on a property tax exemption.
“Right now, as those millages stand, you’re going to be getting what you’ve always gotten, but you’re going to have a decline in student population, so where would those dollars be allocated?” Jon Glover questioned as he noted a decline in Caddo Parish student enrollment over the last five years.
One agenda item moved to approve a proposed $38,000 annual property tax exemption for five years under Louisiana’s Industrial Tax Exemption Program for Lubrication Technologies.
Jackie Lansdale, president of Red River United, questioned how exactly this exemption is going to benefit the school system. She suggested the board set some sort of policy for internships, STEM programs, community programs, or similar.
Board member Steve Umling agreed, saying, “What is the benefit we are seeing from this? We are overseeing education, not economic development.”
Umling continued, needing proof the company would give back before he’d be willing to sign off on it.
“I’m just not seeing anything in return for this money that’s not ours, and we’re going to give it away. And, here we are asking the voters of Caddo Parish to give us money on the 29th,” Umling said.
While nothing is concrete at this time, Superintendent Keith Burton said that a company representative is meeting with staff to discuss what internships and partnerships will be available in the future.
Per the ITEP application, the board could only approve or reject. The board could also not change the amount, as $38,000 equals the 80% property tax exemption offered by the ITEP program.
“I will say this is an incentive for them to stay here,” board member Barry Rachal said in support.
