Stageworks lease agreement nears vote; city leaders highlight cost savings
SHREVEPORT, La. (KTAL/KMSS) – After months of delays, the Shreveport City Council appears ready to vote on a proposed lease agreement for the Stageworks facility on Clyde Fant, which city leaders believe will drive economic growth
If approved, the 30-year lease agreement will transform the long-vacant Stageworks building into a hub for entertainment.
'The lease is a triple net lease, which means they will bear all the expenses. Those are just the expenses of the facility itself—about $50,000 a year, which G Unit will assume,' said Shreveport Mayor Tom Arcenaux.
City officials see potential for events there to attract visitors.
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'There is no downside to this lease; both places simply save us money, and on the other side, it can have a huge economic impact for the city,' said District E councilman Alan Jackson.
'We believe the real purpose of this facility economically is to put heads on beds, to bring people from out of town to use these facilities and create economic development for the city,' said Mayor Arceneaux.
Despite the delays caused by changes in Louisiana's film tax credit program, the council is confident in future investments at both properties. The lease also requires collaboration with the Shreveport-Bossier Sports Commission to promote amateur sporting events.
The city council will vote on Tuesday.
'This is something that can be terminated by the city if it's not working out, but I believe this is something worthwhile for the city,' said Mayor Arceneaux.
'And so once the council approves this, then Mr. Jackson can go full throttle and bring the G-Unit experience to Shreveport, Louisiana,' said District A Councilwoman Tabatha Taylor.
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