The Cooperative Endeavor Agreement between Louisiana Economic Development and G-Unit Film & Television for funding up to $50 million has requirements for Stageworks, which is leased to G-Unit.
Here is a summary:
1. The Stageworks component of the LED funding package is defined as the modernization and substantial upgrades to the City owned facility located at 400 Clyde Fant Memorial Parkway to provide for a state-of-the-art venue for the production of live studio audience, television productions and hosting professional sporting events, with an estimated capital cost of approximately $24 million.
2. Stageworks, along with Millennium Studios, must together be primarily used for the purpose of fully producing productions (development, pre-production, production, post-production, and distribution) of required number of minimum productions and minimum production costs for years one through five as follows:
Year one—minimum of 2 productions at minimum $5 million production costs
Year two—minimum of 4 productions at minimum $10 million production costs
Year three—minimum of 5 productions at minimum $15 million production costs
Year four--minimum of 6 productions at minimum $20 million production costs
Year five—minimum of 7 productions at minimum $25 million production costs.
3. Both Stageworks and Millennium productions shall be conducted and undertaken in the City of Shreveport “by people located in the City” with the following requirements: fifty (50%) per cent for year 1, sixty-five (65%) per cent for year 2, and eighty (80%) per cent for year 3.
The language “by people located in the City” is not defined.
4. Stageworks, along with the Dome to be constructed, must have a combined minimum of twenty-six (26) live events per year. “Live event” is defined as ‘any event in which individuals are invited and are present to view a live performance as an audience., it being agreed that events only involving employees of G-Unit or its affiliates shall not constitute a Live Event.”
The Jackson-LED agreement has more terms and conditions which will be explained in future columns.
John came to Shreveport in January of 1977 when he was transferred to Barksdale AFB.
He’s been active in Shreveport politics since deciding to make Shreveport his home.
John practiced law for 40 years and he now monitors local politics. He regularly attends Shreveport City Council and Caddo Parish Commission meetings.
John is published weekly in The Inquisitor, bi-monthly in The Forum News, and frequently in the Shreveport Times.
He enjoys addressing civic groups on local government issues and elections.