IRS delays putting N.O. economic development on hold

Summary

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The City Council, with the blessing of Mayor Ray Nagin, has OK'd the structure of a public private partnership for economic development.

But how soon the New Orleans Economic Development Council, its staff and board can work toward its mission of attracting and retaining business is unknown. The timeline rests in the hands of the Internal Revenue Service, which must approve the documents that establish the partnership as a nonprofit.

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IRS delays putting N.O. economic development on hold

Belinda Little-Wood, the city's top economic development official, said paperwork was submitted to the IRS in February, but a hearing officer has not been assigned to review the application for 501(c)3 tax-exempt ...

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