According to Shreveport's Economic Director Drew Mouton, the passage of a budget amendment at the Shreveport city council meeting on Tues. was just a precursor to the possible purchase of the Millenium Studios by the city of Shreveport.
Mouton says non-disclosure agreements limited the information that could be shared at this time. He did say the funding for the purchase and any building modifications would not be from local tax dollars. He said that federal funds, private dollars, and contributions of many community partners will be utilized if the purchase becomes a reality.
Mouton said that contrary to popular belief, films have continued to be produced at this facility and the growing market for NETFLIX and other TV movie channels has increased demand for skilled craftsmen and production studios that could foster the creation of a long-term regional film industry.
The council budget amendment allocating $3.8 million of American Rescue Plan moneys was needed to continue the development of the project, although it does not definitely mean the city will consummate the sale.
The city of Shreveport owns the land which was leased to Millenium. The studios own the building and all improvements, which may be purchased by the city.