Tulane Avenue to Get Cultural District Designation?

by CSB Staff • March 21, 2014 • Mid-City, Tax Credits, Zoning and Land Use • Comments (0) • 5027

Image via Department of Culture, Recreation and Tourism

New businesses and homeowners popping up along Tulane Avenue in Mid-City may now be part of a state cultural district, thanks to an application submitted to the state’s cultural department, according to City Council.

The New Orleans City Council has submitted an application to the State to create a new cultural products district in Mid City, which would include Tulane Avenue from South Perice to Broad Street and I-10 from Bernadotte to City Park Avenue. New Orleans City Council members Susan Guidry and Latoya Cantrell led the effort.

Cultural districts are often touted as being important because they allow for sales tax exemptions on the sale of original-one-of-a-kind works of art. But the real value — and why the real estate community loves them — is because they also make certain buildings within their boundaries eligible for tax credits for owner-occupied residential and mixed-use buildings.

Renovations to historic structures over 50 years are also eligible for state tax credits.

The original works of art covered under the tax exemption include:

Visual art: not limited to but including drawing, painting, sculpture, clay, ceramics, glass, fiber, leather, metal, paper, wood, installation art, light sculpture, wearable art, or mixed media
Art made by the hand of the artist or under his direction
Art not intended for mass production
Limited, numbered editions (up to 100) of lithographs, photography, silk screen, intaglios, etchings and graphic design
Ineligible media and products: performing arts, food products, live plants, music recordings, and reproductions of original art works