LAFAYETTE, La. (KLFY) -- A new group in Lafayette has formed ahead of next weeks vote on a potential new ordinance regarding short term rentals in Lafayette.

A non profit group called Lafayette Tourism Lodging Association was formed after the most recent Lafayette City Council meeting. The group said they were asked directly by the council to study the short term rental situation in Lafayette and come up with a solution that will benefit all citizens, the culture, and economic future.

The newly formed group believes the regulations will devastate the market and impact the economy and future of travel tourism in the Lafayette area.

These new potential regulations has some Lafayette residents and short term rental owners divided.

LTLA will be hosting a pre council Rally before Lafayette City Council meeting on Tuesday Aug. 22. The rally will take be from 4:30 p.m.-5:30 p.m. at Lafayette City Hall.

This all comes in response of the expected vote by the Lafayette City Council next Tuesday for the city's first set of regulations for short term rentals. The regulations could introduce a license system that would require short term rental owners to apply for in order to legally rent a property. It could also bring about new zoning requirements where rentals would and would not be acceptable. The ordinance can be read here.