Walter Monsour will step down from his position as president and CEO of the East Baton Rouge Redevelopment Authority effective Nov. 30. In a letter sent to the RDA board of commissioners late this afternoon, Monsour says he is resigning his position in order to “help extend the financial life of the RDA while it continues its search for a dedicated source of funds or 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. Mayor Kip Holden has been sharply critical of Monsour and the RDA in recent weeks, and has said he will refuse to allocate money in the 2015 budget to help keep the agency afloat. In a statement released by the agency this afternoon, RDA Board Chairman John Noland says he is reluctant to accept the resignation, but that “everyone understands this is the best course of action to take while the RDA seeks dedicated funding solutions. We are extremely grateful to Walter for his service …”
Noland goes on to say an interim CEO will be named and that all staff will stay in place during the transition. Read Monsour’s letter to RDA board.
