Deal controversy to discourage Monroe investors

Double standards and good-old-boy politics aren’t going to serve Monroe well as it tries to take advantage of a generational economic development opportunity.

As the Hyperion data center project continues its buildout, which has given the area economy but particularly Monroe’s a big shot in the arm, bickering continues over a potentially-dubious use of taxpayer dollars. In the crosshairs is a $4.5 million deal by the Interstate 20 Economic Development District, giving the sum to an entity DZE LLC to build residential homes outside of the EDD. Its board, whose members mostly comprise City Council selections that at this time is controlled by black Democrats, bypassed normal procedures to award the money.

The city technically has jurisdiction over the District’s fiscal matters and has refused to release the portion of the money already billed. Initially it argued that it had uncertainty over whether statutorily it could do so, since the project had no real connection to the district. Mainly comprising Pecanland Mall, tax revenue gained through projects theoretically would fund district activities, so it is very difficult to see how infrastructure pertaining to houses outside of the district constitutes economic development within it. Other than the Board, does anyone seriously think new houses across the way will encourage more people to locate near to and want to take the low-wage jobs at the mall?

Bossier Jury setting itself up for lawsuit loss

Go ahead, Bossier Parish Police Jury, make my day, if you dare, although the parish would be far better off if you simply followed the law.

Last week’s Jury meeting ended with a letter of resignation from former Library Director Felesha Sweeney. Two days later, the parish’s Library Board of Control said it had appointed Marissa Richardson as the new interim director, it later clarified.

That’s important as she cannot take the permanent post until, according to statute, appointment by the Board, which requires a public meeting. But the past two meetings of the Board were inconsistent with state law because, among other things, the entire Jury of a dozen masqueraded as members of the Board when legally there can be a maximum of only seven voting members on it.

Taxpayer-funded weight loss bill deserves veto

Republican Gov. Jeff Landry, if he considers costs and outcomes, has good reason to veto SB 433.

The bill by Democrat state Sen. Gerald Boudreaux, after a few iterations, would have the state cover for Medicaid weight loss drugs for obesity, as prescribed. Louisiana Medicaid already covers it for clients where weight gain is a consequence of a chronic condition, which this expansion would not require. This has a five-year estimated cost of $72 million.

Here, the thinking is that obesity causes other maladies that eventually could fall under Medicaid treatment, hence needing state taxpayer support (although Louisiana typically has between 60-70 percent of costs covered by the federal government, so the bill has the Department of Health promulgate standards that would be consistent with federal regulations). By preventing obesity, the guess is that the use of semaglutide, the chemical in the drugs practically speaking that would have to be prescribed, would cost less than the eventual cost of treatment for other preventable conditions.

BC Council increases delivery of fiscal reform

Almost a year into their terms, the current Bossier City Council members that promised fiscal prudence and reform look set to deliver a heaping dosage of it in their meeting this week.

A couple of holdovers and four new members who took office last Jul. 1 came in with stated agendas of making more prudent spending decisions and better fiscal management than the predecessor majority. That has happened in bits and pieces, such as reducing free riding by large apartment complexes on water and sewerage fees and in refinancing bond deals. However, this week’s agenda features the broadest range of reform yet at the same time signals where more work can be done.

One item echoes previous efforts with the extension of a refinancing strategy for older bonds. An ordinance will extend the ability of the city to use a $15 million bond issuance in 2021 originally intended to pare down an issue connected to past public works projects (principally the Walter O. Bigby Carriageway, whose account has been spent in totality) to another active bond series. Essentially, the city will take advantage of differential interest due – the additional series had small payments early but these will increase substantially the closer it gets to its 2036 due date – between old and new issue to save roughly $850,000 annually.