There’s an old saying: “Figures don’t lie but liars figure.” A pertinent present day saying is that “promoter promises don’t equal performance.”
The Caddo Commission’s Economic Development Committee entertained a slick dog and pony presentation on the economic windfall from the proposed sports complex from the Sports Facility Companies yesterday, After the video conference and PowerPoint presentation, the committee bounced the bond proposal from $40 million to $60 million.
As expected, many Commissioners immediately jumped on the sports facility bandwagon with little to no concern for its ballooned cost, the economic projections, or the potential taxpayer liability for facility operations. They also ignored the Commission’s bond rating downgrading from AA+ to AA- due to a change in “demographics”.
Additionally, no committee member asked if the Caddo Administration had hired the Sports Facility Company, at what cost, or if it was a “freebie” in an effort to be named project manager.
Tim Magner, president of the Shreveport Chamber of Commerce, and Jeffery Goodman, Committee of 100 CEO, both addressed the committee and offered to assist in evaluating the sport's complex proposal. A third party independent analysis of the economics projections presented by Sport Facility Company and especially the 1.5 mil ad valorem tax that will fund the project is certainly needed.
This is an ideal project for the Chamber and/or Committee of 100 to tackle. Certainly, Caddo parish voters need this information.
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.