Historic preservation group has little clout, city attorney indicates

Just how much clout does the city’s newly created Historic Preservation Commission actually have? It appears not too much, for the moment. That’s according to a city attorney who told the HPC at its meeting today that developer Richard Preis does not have to appear before the agency in order to appeal the demolition-by-neglect citation it issued for three dilapidated houses he owns in Spanish Town.

Preis is appealing the HPC’s finding, which carries a hefty fine, to the Metro Council, but some commission members have questioned whether the appeal process as spelled out in the ordinance lets him bypass the group and go directly to the council. City Attorney Lea Anne Batson says that it clearly does. “The Metro Council wanted to make sure y’all’s decisions are not binding on anybody,” Batson told the commission. “They wanted to make sure if any property owner had a problem, they could go to the Metro Council and get it fixed.”

Batson’s comments underscore the challenges that the HPC faces as it confronts its first test case in Spanish Town, which became a historic district last year. Preis is seeking to tear down the three houses to make way for an apartment complex, which the neighborhood is fighting. But in an ironic effort to save the properties, the commission cited him for demolishing the houses by neglect; if enforced, the finding requires that Preis pay a fine and fix them up. The Metro Council is scheduled to take up the matter next Wednesday but could defer it if the neighborhood’s civic association files a legal challenge to the city attorney’s interpretation of the ordinance.—Stephanie Riegel

Bank forecloses on MPERS-funded golf resort in Texas

Boot Ranch, the swanky Texas golf resort that golfer Hal Sutton was building, partly with Louisiana police retirement funds, is headed for foreclosure. In a news release today, Sutton announced that Lehman Brothers, which pumped $73 million into the 2,051-acre project in 2007, plans to sell the course and the undeveloped lots around it. Lehman went into bankruptcy in September 2008 and is selling the property to satisfy creditors. "Due to the substantial downturn in the national economy, recent Boot Ranch sales have not met expectations, and the loan is in default," Sutton says.

Boot Ranch was a source of controversy in Louisiana after the Municipal Police Employees' Retirement System, or MPERS, opened a $30 million line of credit to launch the resort. MPERS paid off the line of credit in 2007, and Sutton's partnership was supposed to pay the retirement system back. It isn't clear how much MPERS has received to date or whether it will ever be paid in full. Sutton will no longer own the course, and Lehman plans to find an interim operator until a buyer can be found.

The news comes just days after the Louisiana Attorney General's Office and the Louisiana Office of the Inspector General searched the offices of MPERS attorney Randy Zinna of Baton Rouge, looking for documents related to the sale of property around MPERS-owned course Olde Oaks in Bossier City. An investigation is ongoing. MPERS maintains more than $1 billion in retirement benefits for 10,000 Louisiana police-department employees. Municipalities across the state pay roughly 14% of their payrolls into the system.—Penny Font

CNNMoney.com lists Baton Rouge as ninth-best place to start a small business

Citing the Capital Region’s tax incentives for high-tech companies and its cultural economy as a quality-of-life draw, CNNMoney.com recently named the area the ninth-best place to launch a small business among midsize markets. The Web publication says corporate income tax incentives of up to 35% for digital media firms and up to 40% for research and development companies have made the region “an epicenter for tech firms” and inspired video game maker Electronic Arts to open a local testing center. Entrepreneurs benefit locally from “a wealth of young, educated talent” thanks to LSU, Southern University, Baton Rouge Community College and nearby institutions, the article says. Meanwhile, South Louisiana’s crawfish boils and other unique cultural offerings provide for “an atmosphere where people work hard but enjoy an active social scene after hours,” the article says. To read the full profile of the Baton Rouge area, click here.

Hurricane-recovery leader Kirkpatrick dies

The man dubbed “Colonel K” by associates and who led regional recovery efforts after hurricanes Katrina and Rita died Tuesday after a battle with cancer at age 65. Col. Thomas Kirkpatrick of the Louisiana National Guard was appointed by former Gov. Kathleen Blanco as the state’s coordinating officer for the recovery. “At a time when many within the state were overcome by the magnitude of the destruction … Colonel Kirkpatrick provided exemplary leadership and direction,” says Mark Cooper, director of the Governor’s Office of Homeland Security and Emergency Preparedness, in a statement. Kirkpatrick was instrumental in getting more than $8 billion from the Federal Emergency Management Agency, state officials say, and balanced getting chemotherapy with working long hours for the recovery effort. Kirkpatrick died at his Baton Rouge home; his family asks that donations be made to Cancer Services of Greater Baton Rouge, whose Web site is here.

In an error, Louisiana paid insurers too soon

Louisiana's insurance department paid insurers $29 million in incentives about six months too early. That's according to an audit report made public this week by the state's legislative auditor. The audit said the money was paid in January 2008. But the money should not have been distributed until June or July, when the state and the insurers completed required "cooperative endeavor agreements." The incentive money was paid out to insurers willing to begin doing business in the state and to insure coastal properties at risk to hurricanes.

State commission won't push change to 'Do Not Call' law

State utility regulators won't ask the Louisiana Legislature to change the state's "Do Not Call" law to ban calls from debt collectors. Public Service Commissioner Eric Skrmetta was pushing for a change in the law, saying the calls can become harassing and intimidating. But the four other members of the commission argued it would be improper to say credit card companies, banks and other businesses can't call the people who owe them money. The PSC voted 4-1 against asking state lawmakers to change the "Do Not Call" law. The law lets people sign up on a list that bars telephone solicitors from calling them. Companies that don't comply are fined by the PSC. Exceptions are included in the law for debt collectors.

No movement on funding for new Woman’s Hospital construction

Construction of a new Woman’s Hospital campus remains on hold, even though the bond market is starting to improve somewhat. The $350 million project at Airline Highway and Pecue Lane was halted because of high interest rates, and remains stalled in part because of uncertainties in Medicaid funding. Officials are reviewing plans in advance of a January board meeting; a hospital spokeswoman said today that while alternative financing has been considered, the bond market is still the most likely funding source. On Tuesday, North Oaks Medical Center said its Hammond facility expansion got new life through a $99 million bond issuance, after having been put on hold in December.—David Jacobs

LAGCOE draws international heavy hitters

The Louisiana Gulf Coast Oil Exposition in Lafayette is attracting unprecedented interest from international oil executives, 10/12 Weekly reports. Set to attend are the president of Colombia's ECOPETROL, the president of Chevron Africa and Latin America Exploration and Production, the sub-director of PEMEX Exploration and Production in Mexico, the deputy chairman of Kuwait Oil Company, and several high-level executives from ESNAAD and Mubadala Petroleum Services -- both subsidiaries of Abu Dhabi National Oil Company. Delegations of business executives from private firms in Colombia, Mexico, Kuwait, United Arab Emirates, Libya, Nigeria and Iraq are also making the trip. Part of the reason is that several programs are planned to connect U.S. and international firms. Louisiana Economic Development and Le Centre International de Lafayette are organizing an invitation-only networking event to facilitate matchmaking with the large, executive-level delegation from Iraq. Those interested in attending can contact Delilah DeSouza of the U.S. Department of Commerce at (504) 915-3301 or Rebekah Robertson at 302-0492. The 55-year-old LAGCO is the largest energy event in the United States, showcasing decision makers, state-of-the-art equipment and the newest offshore and onshore drilling technology. More than 16,000 attendees and over 400 exhibitors are expected. To register, click here. To read the rest of 10/12 Weekly, click here.

News roundup: Dow finishes above 10,000 for first time in year … … Limbaugh to be dropped from Rams’ bid, report says … Dividend declared by Albemarle directors

Visible sign of recovery? The Dow Jones industrial average closed above 10,000 for the first time in a year before closing today at 10015.86. The Dow crossed five figures in afternoon trading, seven months after it hit a 12-year low of 6,547.05 on March 9. The comeback by the stock market's best-known indicator is the most visible sign yet that investors believe the economy is indeed recovering from the financial crisis and recession. Cheering erupted from traders on the floor of the New York Stock Exchange as stocks briefly moved above the psychological barrier. The Dow at times fell back below 10,000 in the normal ebb and flow of trading. "People feel more comfortable and feel like there's less risk in the market when you get above a psychological point like 10,000," said Carl Beck, a partner at Harris Financial Group.

Not Ram tough enough: Rush Limbaugh is expected to be dropped from a group bidding to buy the St. Louis Rams, ESPN.com reports. Dave Checketts, chairman of the NHL's St. Louis Blues and the point man in the Limbaugh group attempting to buy the Rams, realizes he must remove the controversial conservative radio host from his potential role as a minority member in the group in order to get approval from other NFL owners, three league sources told NFL writer Adam Schefter. Three-quarters of the league's 32 owners would have to approve any sale to Limbaugh and his group.

Dividend declared by Albemarle: The board of directors for Albemarle declared today a quarterly dividend of 12.5 cents per share. The dividend is payable Jan. 1 to shareholders of record at the close of business Dec. 15. The annualized dividend rate is 50 cents per share, said the Baton Rouge-based chemical maker.