The Monroe City Council has approved a 25-year plan of action for South Monroe, despite stiff objections from one Southside Council member.
The plan which has been dubbed the “Southside Dream” is a blueprint of projects and changes for South Monroe that will improve its quality of life. When fully implemented the plan may cost as much as $500 million.
State law requires the Southside Economic Development District (SEDD) to submit a plan for Southside to the city council for its approval. Once approved, the council can begin the process of seeking funds to initiate the 47 projects in the plan.
The law says SEDD can fund its project through 1)A hotel/motel tax 2)retail sales tax, and 3) A tax incentive plan wherein the city agrees to allow use of some taxes collected in the district to fund its projects). SEDD can also…