Making IT Teamwork
THE CONSORTIUM OF MINDEN/WEBSTER PARISH
The Consortium of Minden/Webster Parish, Inc. is a 501 (c) (3) private nonprofit entity that supports commercial real estate development and redevelopment in the City of Minden and Webster Parish. The Consortium, in cooperation with various groups, coordinates economic development and marketing activities. In so doing, it provides incentives to encourage the creation of jobs; it supports the development of downtown properties for either residential or commercial purposes; it attracts new retail and service businesses; it encourages the expansion of existing enterprise and educates the public on the economic development process. The Consortium has an ongoing contract with the City of Minden to manage the City’s four economic development districts.
The Consortium administers Tax Increment Financing (TIF) on behalf of the City of Minden and monitors contract compliance of the incentive recipients. Generally, TIF is a funding tool for business expansions or new business development.
A new business investment has to be located within an existing economic development district or TIF District where a 2 percent sales tax increment is charged on all eligible sales tax generated sales including those created from hotel room rentals. Eighty-percent (80%) of the sales tax increment generated by a particular development/project over a period of years is returned to the business on a monthly basis to partially or totally reimburse the business for new property/land improvements. Other limitations and conditions may apply.
The largest revenue source for the City of Minden is from the collection of retail sales taxes. The Consortium in collaboration with its partners (The Greater Minden Chamber of Commerce, Minden Main Street, and the Webster Parish Convention
& Visitors Bureau) are developing
action steps to enhance the existing retail market as well as strategies to encourage new retail investment in Minden and surrounding areas. We encourage you review a retail study of the Greater Minden area retail target market that was commissioned by Consortium and its partners.
Retail Study Presentation
MARKETING & RESEARCH
The Consortium leads the economic development marketing and promotion activities on behalf of the City of Minden. The Consortium accomplishes its activities via its executive director who collects data, networks with investors, commission market research studies, and negotiates investment and project incentives with commercial/retail developers.
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