Caddo Parish voters will be asked on November 3 to authorize up to $60 million in general-obligation bonds toward a proposed sports and events complex expected to cost approximately $68–$70 million.
Parish officials say the bonds can be serviced using existing millage capacity, meaning no new or increased Parish tax is proposed for the project. They argue the facility could attract tournaments, visitors and economic development to Caddo Parish.
The Commission vote to put the $60 million bond proposition before the voters was 7–3.
YES: Gregory Young, Victor Thomas, Roy Burrell, Steffon Jones, Stormy Gage-Watts, Grace Anne Blake and Ron Cothran.
NO: Ed Lazarus, John Atkins and Chris Kracman.
ABSENT: Ken Epperson and John-Paul Young.
But for a large portion of Caddo Parish voters, this decision isn't being made in isolation.
If you live in Shreveport, you are both a Caddo Parish taxpayer and a City of Shreveport taxpayer/ratepayer.
At the same time voters are considering $60 million in additional Parish debt for a sports complex, the City of Shreveport continues dealing with the enormous cost of repairing its aging water and sewer infrastructure and completing the requirements of the 2014 federal Consent Decree.
Hundreds of millions of dollars have already been spent, substantial work remains, additional Water & Sewer borrowing is anticipated, and the City is working with federal regulators concerning how the remaining Consent Decree obligations will be completed.
So here's the question—not my answer, but a question for the voters:
Is taking on $60 million in additional public debt for a sports complex a good idea when many of those same taxpayers face potentially substantial additional costs to repair the basic water and sewer infrastructure serving their homes and businesses?
Think about it like your household finances.
Suppose you need to borrow money to repair the plumbing in your house so you'll continue to have reliable running water. At the same time, you're offered financing to build a beautiful, state-of-the-art swimming pool in the backyard.
The swimming pool might be wonderful. It might improve your property. Your family might enjoy it, and it might even have benefits for years.
But would you finance the swimming pool before knowing what it's going to cost to fix the plumbing?
That's the discussion I think Caddo Parish voters should be having.
This isn't necessarily about being for or against a sports complex. It's about debt, infrastructure, priorities and understanding the complete financial picture before voting.
Over the next several days I'm going to dig deeper into the numbers: how much debt Caddo Parish currently owes, how much the City of Shreveport owes, how much has already been spent on the Consent Decree, what remains to be done, what future water and sewer rates could look like, and what $60 million in sports-complex bonds will actually cost taxpayers after interest.
Then you can decide whether the swimming pool should come before the plumbing.
Grayson S. Boucher, Louisiana State Certified Residential Appraiser R1104
Grayson Boucher Appraisal Services, LLC
(318) 564-1917
boucherappraisals@yahoo.com
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.