A.  In order to effectuate the purposes of this Subpart, the board shall have the specific authority provided in La. Rev. Stat. 33:2740.79; such authority shall be exercised solely within the district.

B.  The board shall formulate a redevelopment plan or plans for the district and submit any plan to the governing authority of the municipality or parish for review.  The board shall formulate a program or programs to implement any redevelopment plan.  Such a program shall implement the various plans in such a manner as to aid and encourage private development of the area and to promote and coordinate public development.  In formulating such a program, the board may conduct studies and may consult with all departments of the municipality or parish and other public or private agencies concerned with matters affecting or affected by the program.

C.  After adoption of the development program, the board may implement any portion thereof in such manner as shall, in its judgment, most likely accomplish said program.  To that end, the district may employ or contract with engineers, architects, attorneys, underwriters, and other professionals necessary for the financing and implementation of the construction, renovation, maintenance, or operation of facilities described in the redevelopment plan and may contract in accordance with law for the construction, renovation, maintenance, or operation of the facilities.

D.  The board shall prepare each year an annual budget in accordance with the Louisiana Local Government Budget Act, La. Rev. Stat. 39:1301 et seq.

Acts 2003, No. 904, §1.