Nagin halts business overhaul

Mayor Ray Nagin is halting a push to revamp New Orleans’ approach to retaining and attracting businesses, citing a lack of diversity on the board that would guide the effort, posturing for control and what he called a minimal funding commitment by the private sector. The New Orleans City Council and the Nagin administration pushed the public-private partnership to overhaul New Orleans’ lackluster economic development efforts—and be in line with other local government reforms that followed Hurricane Katrina. The city pledged $2 million toward the effort; the private sector reported pledging the $400,000 the city had asked from it. Nagin’s announcement came the day the council had planned to make its nominations for the board.