Metro Council to look at rolling some millages forward

The Metro Council is scheduled to vote on millage adjustments at its July 23 meeting, and several agencies are asking to continue collecting the same amount of taxes, even though the assessed value of properties has gone up. So far, these agencies have asked to carry their millages forward: the East Baton Rouge Parish Library, which would net an extra $2.25 million by holding its millage at 11.10; Emergency Medical Service, which would get an extra $570,000 by staying at 3.13 mills; Baton Rouge Municipal Fire Salaries and Benefits, which would net $489,000 by staying at 6 mills; Brownsfield Fire Protection District No. 3, which would collect an extra $55,000 at its current rate; Downtown Development District, in line to make an extra $40,000 by staying at 10 mills; and Asen Fire Protection District No. 9, which would net an extra $9,000. Other agencies, such as BREC, East Baton Rouge Sheriff's Office and school board can roll their millages forward without going to the Metro Council.

Holden to discuss bond issue with Metro Council

Some Metro Council members are already questioning a $989 million bond issue being proposed by Mayor Kip Holden that would pay for a nature-themed tourist attraction downtown, an expansion of the River Center that would bring in two hotels, a new parish prison, traffic light synchronization and better drainage.

“Every call I’m getting from my constituents, people are saying, ‘Look, please vote to separate necessity from luxury,’” Councilman Mike Walker says. “I love Kip Holden to death, and I’m glad he has the courage to present this bond issue, but I’d have to see the entire package.”

The mayor meets with the Metro Council at noon today to explain the finances of the bond, which will mean an additional 9.9-mil property tax and a half-cent sales tax the next 30 years.

There's been talk about dividing the bond. The first part would lump plans to build a 2,300-bed parish prison, a Juvenile Services Center, eight fire stations, a training tower and a First Responder Complex linking law enforcement agencies and emergency management offices. The second part would go toward synchronizing traffic lights, drainage projects, bridge replacements and renovations to City Hall. The third would include the Audubon Alive nature center downtown and River Center expansion.

“It’d be nice to have the projects separated so that the public actually make a decision about what they’d like, not an all-or-nothing proposal,” Councilman David Boneno says. “But I don’t know all the specifics yet, and I look forward to receiving the briefing today to have a little more knowledge.”—Rebecca Breeden

Jindal shares thoughts on pay raise veto in column

Gov. Bobby Jindal has written a column outlining the events that led to his veto of a legislative pay raise. Jindal says he made a mistake in telling Legislators he would defer to them on pay issues, a move that led to him being roundly criticized by the public. "In my view, refusing to ever admit one’s shortcomings is a sign of weakness," he says. "One of the tests of strength is to have the courage to admit a mistake, correct it and move on." While the pay raise controversy overshadowed some of the accomplishments Jindal says he and the Legislature made together, one good thing is that it caused some citizens to get involved in government. "Please don’t tune out now," Jindal says. "Continue to make your voices heard, continue to apply pressure, continue to help us move Louisiana to become the greatest place in the world to raise a family, build a career and pursue the American Dream." Read the full column here.

LSU considers overhauling Nicholson housing

LSU officials are looking at revitalizing a section of Nicholson Drive that could involve replacing apartments for married and graduate students with a mixed-use development. The university is working with Economic Research Associates to assess the area between West Chimes Street and Skip Bertman Drive, says Kristine Calongne, an LSU spokeswoman. Any new development would include improved graduate and family housing in order to recruit students, she says. "The goal is to use this gateway to campus in a manner that best serves the university community," she says. LSU has 578 apartments along Nicholson between the North Gates and Alex Box Stadium, and all of the units were built between the late 1950s and mid-1960s.—Timothy Boone

Three Haynesville Shale deals announced

Three announcements have been made in booming natural gas exploration in the Haynesville Shale formation in north Louisiana. Texas-based Encore Acquisition Co. has bought partner Greenwood Waskom/Stateline’s interests in Haynesville for $54 million, subject to closing adjustments. The company immediately took over operations on five units in production in the Cotton Valley formation. Goodrich Petroleum Corp., also based in Texas, closed its $173 million joint venture to develop the Haynesville Shale in Caddo and DeSoto parishes with Oklahoma-based Chesapeake Energy. Nevada-based Mainland Resources and Texas-based Petrohawk Energy Corp. have entered a binding agreement to jointly develop the area’s natural gas on Mainland’s 2,695 acres in DeSoto Parish. The first well under this agreement should be drilled by Aug. 31. To read a recent Business Report story about how Haynesville might be one of the largest natural gas finds in Louisiana history, click here.

Landrieu, Kennedy each raise $1.5 million in three months

The two major candidates in this year's U.S. Senate race in Louisiana report raising more than $1.5 million in the last three months. Democratic Sen. Mary Landrieu's campaign reports cash on hand of $5.5 million. State Treasurer John Kennedy, a Republican, has $2.7 million for his campaign to unseat Landrieu. The figures are from news releases distributed by the campaigns. The campaigns' reports were due with the Federal Elections Commission on Tuesday but had not been posted on the FEC Web site as of this morning.

Fannie, Freddie in no danger of failing, Bernanke says

Federal Reserve Chairman Ben Bernanke told Congress this morning that troubled mortgage giants Fannie Mae and Freddie Mac are in "no danger of failing." The Fed chief made his remarks to the House Financial Services Committee, his second day on Capitol Hill where he briefed lawmakers on the problems plaguing the economy. The Fed and the Treasury Department on Sunday came to the rescue of mortgage giants Fannie Mae and Freddie Mac, offering to throw them a financial lifeline. The two companies hold or guarantee more than $5 trillion in mortgages—almost half of the nation's total. The Bush administration is asking Congress to temporarily increase lines of credit to Fannie and Freddie and to let the government buy their stock. The Fed has offered to let the companies draw emergency loans.

Baton Rouge's big businesses

Business Report is out with its annual list of the Top 100 Private Companies in the Capital Region. See how businesses stack up, look at an analysis of what's driving the local economy and read profiles of a few interesting companies who have made a mark on the list. Read the cover story here. Send comments to editors@businessreport.com.

United Way campaign kicks off Thursday

The Capital Area United Way will kick off its annual fundraising campaign with a jambalaya cookoff from 10 a.m. to 1 p.m. Thursday at the River Center Exhibition Hall. About 40 teams will participate in the cookoff and plates of jambalaya will be sold for $3 each. Along with the food, there will be circus animals, clowns, free rides and an appearance by Hollywood Hal and Rhinestone Al. Admission is free.

Poll: Most think this Bud’s not for them

Most Daily Report readers have concerns about InBev's plans to purchase Anheuser-Busch. Sixty-five percent of the people who responded to an online survey say it’s a bad idea to put an iconic American brand such as Budweiser in the hands of the Belgian brewery. Twenty-nine percent say they don't care what happens with the deal, and 6% say the deal is a good idea because it will benefit Anheuser-Busch and its employees. Nearly 2,000 people participated in the survey.

Today's question: Do you think Gov. Bobby Jindal did the right thing in vetoing $16 million in projects from the budget?

News roundup: Shaw receives safety honor for Cleco project; New Orleans-area banks announce acquisition deal; CVB to dedicate downtown office

U.S. Department of Labor designation: The Shaw Group's Fossil Division has been recognized by the U.S. Department of Labor for excellence in occupational safety and health at the Cleco Rodemacher 3 power plant project. Shaw is the engineering, procurement and construction contractor for Cleco Power’s new generating plant in Boyce. Shaw has achieved more than 4 million safe work hours since construction started in May 2006. The safety record earned Shaw the Voluntary Protection Programs (VPP) STAR designation from the Labor Department’s Occupational Health & Safety Administration (OSHA). First Trust to acquire Globe Bancorp: First Trust Corporation, the parent of First Bank and Trust, has signed an agreement to acquire Globe Bancorp and Globe Homestead for $5.3 million. Globe Homestead has one branch in Metairie, while First Bank and Trust has nine locations, including one in Baton Rouge. The deal should be closed by the end of the year, and Globe Homestead will be renamed as First Bank and Trust. Putting out the welcome mat: The Baton Rouge Area Convention & Visitors Bureau will dedicate its new offices at Third and Laurel streets at 10 a.m. Thursday. There will be public tours of the building from noon to 3 p.m.