The interim president and CEO of the East Baton Rouge Redevelopment Authority plans to conduct a financial review of the agency and create a business plan that will identify potential long-term financing sources to keep the agency afloat.
Gwen Hamilton, who took over at the RDA on Dec. 1, says now that she has settled in to her new position her top priority for the new year is to get both the financial review and the business plan completed by the end of the first quarter. Both actions will require hiring outside experts and do not require approval from the RDA board of commissioners.
“My hope is that we will contract with someone to work with staff to put together a business plan,” Hamilton says. “That is something that we have to do—come up with a realistic business plan for what we are and where we hope to go.”
With respect to the financial review, Hamilton says she wants to get a handle on the agency’s overall financial picture in order to better determine how to spend its limited resources.
“It’s just something I think is important as I start working with the new organization and making sure that the allocations we do have in place are appropriately aligned,” she says.
Hamilton succeeds Walter Monsour, who resigned in November amid criticism over the RDA’s dwindling resources and lack of permanent financing. The agency will run out of money by next January if no financial source is secured.
Monsour’s resignation was followed in November by the departure of two administrative staffers. Since then, another key staff member—James Andermann, who was director of real estate and headed the RDA’s adjudicated properties program—also has resigned, leaving Hamilton with a staff of just three. Andermann’s last day was Jan. 2.
“We plan to fill James’ position in some capacity,” Hamilton says. “But when you have a professional staff and uncertainty—people with families and young children—it’s difficult.”
Read a recent Business Report cover package on the RDA’s recent turmoil and its uncertain future.
—Stephanie Riegel
