In the bank: The Louisiana Mineral and Energy Board announced Thursday it has sold seven leases of 1,485 acres in Cameron, St. Mary and Terrebonne parishes for $482,109 at its monthly lease sale Wednesday at the LaSalle Office Building in Baton Rouge. So far for the 2015-2016 fiscal year that began on July 1, the board sold 50 leases of 5,076 acres, generating $4.17 million in revenue for the state. In the 2014-2105 fiscal year, the board generated $14 million in revenue and $432.9 million in royalties for the state.
Say it ain’t so: For the first time in in 16 years, Laurel Street Palooza will not take place in January. The annual block party that raises money for the Arts Council of Greater Baton Rouge will be replaced by a special event honoring kings and queens from past Laurel Street Palooza events with a silent auction, brunch, music and cocktails, according to a news release. “Although this event is a departure from the traditional street party this year, the Arts Council plans to use the opportunity to plan for a new and improved Laurel Street Palooza in 2017,” the release says. The event is at noon, Jan. 17 at the City Club of Baton Rouge and will be open to the public. Tickets are $50.
New ownership: Wetsman Forensic Medicine, which runs Townsend Addiction Treatment Centers across Louisiana, has been acquired by AC Holdings, Inc. through its subsidiary, American Addiction Centers, Inc. The deal is for $12.75 million in cash and $8.5 million in restricted shares of AAC Holdings’ common stock. Townsend runs seven addiction recovery centers, including one at 7434 Picardy Ave., and one inpatient center in Scott. Townsend generated about $11 million in revenue through the first nine months of 2015.
