A Public Records Request submitted on Sept. 11, 2025, for information on Red River District (Current District) was answered this morning, Sept. 22, 2025. Seemingly these computer generated Income Statements should have been made available much, much sooner. But that is another story that is becoming the routine for the City of Shreveport.
The request was for income/expense statements since the creation of the Red River District in 2011. Since the Current District has had many ups and downs since 2011, the most pertinent information is for the last five years.
Here is this information:
2021 net loss $80,330.
2022 net loss $42,653
2023 net loss $84,786
2024 net loss $24,577
2025 through Aug. 31 $49,316.
Without getting down into the weeds, these losses confirm the economic troubles of the city-owned Current District.
The Shreveport City Council may adopt tomorrow (Sept. 23) an ordinance setting up a new Tax Incentive Financing (TIF) District (New District) for downtown Shreveport that includes the Current District. This proposed TIF also includes the Millennium Studio and Expo Hall leased to Curtis "50 Cent" Jackson, three empty downtown buildings owned by Jackson that need substantial repair before being placed into commerce along with a dirt lot and a paved parking lot owned by Jackson.
Currently the only income and thus sales/use tax generation in the Current District are from three open businesses. A fourth should open next month.
The big question is how the New District will generate much more sales/use tax using a baseline calculated from 2024. Millennium Studio will not generate any tax income in the near future as it is currently being used as a water damaged warehouse. Unless major events are scheduled for Expo Hall no TIF income will be derived from that facility.
No sales tax income can be expected from the other Jackson holdings in the New District without major expenses being made for Jackson other than pop-up retail outlets on the dirt lot across from The Blind Tiger and/or the paved lot on Spring and Travis.
But then there is the future plan, not openly discussed, to impose an ADDITIONAL 2% sales tax in the New District. This additional revenue would be set aside for improvements in the New District. This means that the three soon to be four businesses and their customers would probably fund expenses primarily to benefit Jackson, even though his leased and owned properties would be contributing little if any funds to the New District.
Other than the Humor and Harmony Festival, Jackson has been long on promises and short on delivery of economic development projects. And the overall economic impact of the festival has not been documented although the available information shows a minimal impact. How many more benefits with very little return the City will provide Jackson is a question that should be openly debated. Hopefully the City Council will delay a vote on the New District after the public hearing tomorrow to allow for more public discussion.