Corporate Realty of Birmingham, Alabama has proposed spending $139 million dollars to build a retail complex at Cross Bayou. The project would also have included a hotel and residential space. Is the deal dead now that the Shreveport City Council has voted 6-0 against the Mayor's plan to sell $30 million in revenue bonds to fund an arena to house the New Orleans G-League team.
The Shreveport City Council turns down the Mayor's plan to begin the process of selling revenue bonds to fund a $30 million dollar arena for the G-League team of the New Orleans Pelicans.
The Mayor wanted to build the complex at Cross Bayou. The city money was also going to be used to leverage private money from Corporate Realty to build a retail complex at the property. That proposal would also have included a hotel, and residential space.
Mayor Ollie Tyler wants to build a sports complex at Cross Bayou to house the team. Corporate Realty of Birmingham, Alabama has proposed a multi-faceted complex that would include a hotel, residential, and retail. The company wants to invest more than $100 million on the deal.
The water billing saga continues as the City of Shreveport has now filed its own lawsuit, this time against the software company that provided the operation management system that billed water customers across the city.