Chevron selling building to New Orleans

Chevron Corp. is selling its former New Orleans operations center to the city for conversion into a new city hall. Last month, the city made an offer for the 325,000-square-foot, 21-story building, which has been vacant since Chevron moved its New Orleans operation to the Covington area, about 40 miles north of New Orleans. Chevron spokeswoman Qi Wiggins says both sides were working on a formal purchase agreement, but details would have to come from the city. Late Wednesday, Mayor Ray Nagin said the two sides agreed on an $8 million price while he was in quarantine in China after being exposed to suspected swine flu. He said he expected a formal announcement Friday. Nagin says the price for the building rose as high as $9.4 million during talks but that the appraised value was $8 million. “They tried to get us up to $8.6 (million),” Nagin says. “But I wasn’t paying above appraised value.” Earlier, Wiggins said Chevron had received several offers for the building, but she refused to disclose the potential buyers.