After East Baton Rouge Redevelopment Authority President and CEO Walter Monsour announced his resignation on Monday, effective Nov. 30, Mayor Kip Holden called on business and civic leaders to “come to the table” and figure out how best to get on with redeveloping Baton Rouge’s blighted neighborhoods.
But Holden made it clear Monsour’s resignation has not changed his mind on whether or not to approve a $3 million request for funding from the RDA.
“Funding the RDA is non-negotiable,” Holden told Daily Report. “We have some major problems in our budget. I’m not going to tell Walter one thing then turn around and give someone else money.”
The point was underscored when Holden unveiled his proposed budget for next year at a special meeting of the Metro Council on Wednesday, and the 502-page document did not include the RDA funding.
Monsour has said the RDA will run out of money by the end of 2015 unless a permanent source of funding can be identified. Following news of Monsour’s resignation, BRAC President and CEO Adam Knapp told Daily Report the agency needs to be supported, sustained and funded.
Also this week, Baton Rouge hotels, restaurants and bars were busily preparing for an economic boon this weekend as hundreds of thousands of football fans take to the town to watch the highly anticipated matchup between LSU and Alabama in Tiger Stadium on Saturday night.
Brandon Landry, who co-owns Walk-On’s Bistreaux & Bar, says he expects to see around 10,000 patrons over the weekend at the Burbank Drive location near Tiger Stadium. In a typical weekend, the restaurant and bar serves about 2,000 customers.
“We’re preparing to do two weeks of business during the weekend,” Landry says.
Other stories making headlines in Daily Report this week included:
— School board candidates supported by Better Schools for Better Futures—a political action committee formed in August by local businessman Lane Grigsby and veteran business lobbyists Dan Juneau and Ginger Sawyer—fared well in Tuesday’s election. One candidate won outright and three will be in a December runoff, while two lost. “We’re pleased,” says Grigsby, who has spent months and untold dollars on the school board races. “We’re in three runoffs. They’re very important to education, and we are going to work our tails off.”
— At No. 2, Site Selection magazine gave Louisiana its highest-ever ranking on an annual listing of the nation’s best states for business climate. “Louisiana jumps from sixth place last year to second in 2014 in the overall ranking, surpassing North Carolina (third place) and Texas (fourth)—the two states that have battled for first place in the Top Business Climate ranking for much of the past decade,” says the magazine.
— Red Bank, New Jersey-based ZAIS Financial Corp. completed its previously announced $61 million acquisition of Baton Rouge-based GMFS, a privately owned mortgage company that originates residential mortgage loans.
— Speaking to the Press Club of Baton Rouge, State Health Officer Jimmy Guidry said the state is working to secure the equipment hospitals would need to take care of a patient with Ebola if necessary, adding the state is also taking utmost precaution to prevent having to tackle such a case.
— Plans are in the works for the Park 7 Apartments, a new 280-unit apartment complex that would be located outside the South Gates of the LSU campus. Park 7 Group, a New York-based firm that develops student housing around the country, has filed an application with the Planning Commission to rezone a 2.6-acre tract just south of Highland Road that will be the site of the complex, which will include a 749-space parking garage.
— Paul and Ann Connelly have purchased the Lobdell Avenue shopping center near the Jefferson Highway intersection that’s home to Anne James Hair Salon, with plans of transforming the center into a “creative business park” called Studio Park.
— The shopping center at 7474 Corporate Blvd. will soon welcome two new tenants: Popcorn Bistro and Smashburger. Popcorn Bistro will open its fifth Louisiana location on Nov. 15 in the space previously occupied by Quiznos. Smashburger, a Denver-based fast casual chain, plans to open a location in March in the space formerly home to Louisiana Pizza Kitchen, which is currently subleased to Trios Mexican Bar and Grill.
— The cost of renovating and rebuilding two historic apartment buildings in the 600 block of Spanish Town Road will be around $700,000, according to developer Benjamin Stalter, who says the cost is in line with what he and his partners were budgeting.
— The Louisiana Realtors Association filed for a plan review application with the Department of Public Works for the renovation of its new headquarters at 821 Main St. and hopes to begin construction on the historic structure before the end of the year. The $2 million project will include a renovation of the existing 3,786-square-foot building—a 93-year-old historic home—and the construction of a new 5,051-square-foot addition. Construction is expected to take 10 to 12 months.
— The Salvation Army has plans to build a new men’s shelter measuring more than 10,000 square feet at its campus at 7361 Airline Highway, according to a plan review application filed with the Department of Public Works. Captain Brett Meredith, commander for the Salvation Army of Greater Baton Rouge, says bids are still being taken, but construction is expected begin on the shelter in the coming months, with plans to open at this time next year.
— Vivid Ink Graphics sold one of the buildings that comprises its current offices in Industrial Park for $440,000 to Frantz-Gibson Painting Co. as it prepares to begin moving to its new location on Airline Highway at the beginning of next week. Frantz-Gibson Painting is moving into the 5,500-square-foot space at 11940 Cloverland Court after Nov. 10.
— Members of the Patel family, who operate several limited service hotels in the Capital Region, have acquired a 2.3-acre tract that sits behind the Racetrac gas station off La. 73 in Ascension Parish. They plan to develop the site into the Dutchtown’s first hotel.
— Roughly four months since Hi Nabor closed its doors in the Drusilla Village Shopping Center after 25 years in business there, the locally owned grocer opened its new 28,000-square-foot store in the Broadmoor Village Shopping Center on Thursday morning.
— The Velvet Cactus’ first Baton Rouge location will open before the end of the year on Old Hammond Highway near its intersection with Jefferson Highway, according to owner Herb Dyer. Dyer and Rusty White—who also own The Bulldog bars on Perkins Road and in New Orleans—purchased the property in December 2012.
— DIG magazine has relocated its offices from 5075 Nicholson Drive to the first floor of the Advocate building at 7290 Bluebonnet Blvd. DIG Editor Cody Worsham says the weekly tabloid moved its staff of 12 full- and part-time employees in late October into a 2,000-square-foot suite of first-floor offices in the Advocate building.
— Nominations opened this week for the 2015 Business Awards and Hall of Fame, presented by Business Report and Junior Achievement. You can nominate your company, yourself, a client, vendor or friend online. Nominations will close at 5 p.m. Friday, Dec. 12. Winners will be profiled in the March 3 issue of Business Report and will be honored at a March 19 banquet.
