Keeping the Saints in New Orleans: See inside Louisiana's multi-million-dollar maneuvering (1 Viewer)

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PHOTO BY CHRIS GRANGER

By Mark Ballard | Capital Bureau Editor

With the topple of the first domino later this week in Baton Rouge, the Saints football team could either be in New Orleans for the next 30 years or headed out of town sooner than you think.

A simple yes by the State Bond Commission would start other pieces in a complex financial arrangement to fall – allowing contracts to be signed, renovations to continue, and eventually the Saints staying in New Orleans until 2055.

The Edwards’ administration is pressing hard for a favorable vote by November from the panel that oversees the state’s borrowing. The first step begins Thursday when the Bond Commission starts discussing the particulars.

“We’ve kind of reached a point now where we have to fish or cut bait,” said Commissioner of Administration Jay Dardenne. “And the way we make a commitment to this project is to have the Bond Commission vote for what’s called a ‘debt commute’.” ...

Full Story - The Advocate
 
Andrus Whitewing

Andrus Whitewing

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