Aug 082012

The New Orleans City Council will hold its first meeting Thursday as the “Carrollton Palmetto Economic Development District,” the governing body established to oversee the tax credits the city will give to Costco for its new store on South Carrollton.

The meeting will take place during the regular City Council meeting, starting at 11 a.m. or after the council finishes with its procedural matters, according to the notice. Acting as the economic development district, the council members will create a trust fund and designate a 1 percent portion of the city’s 2.5 percent general sales tax collected on the Costco property for the fund. The money will be used to offset the costs of work raising the site, officials have said.

Other Uptown issues on the Council agenda are discussions of alcohol licenses for the new location of Reginelli’s pizzeria on Magazine at State and for Kakkoii Japanese Bistreaux on Maple.

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