Before the LSED can even contemplate the sports and entertainment district, however, the state must agree to move some of its offices into the Dominion Tower. That move is key to financing the purchase of all three buildings in the New Orleans Centre.
The state has planned for some time to build brand new offices to replace a public building on Duncan Plaza that sustained heavy damage during Hurricane Katrina. Thornton and others at the LSED are trying to persuade the state to renovate the Dominion Tower and move the offices there instead. The state could issue debt to buy the tower, the mall and the parking garage, backed by the rents it could expect to collect from its various agencies and departments.
How does that work? LatinTeacher asks a similar question here with a bit more suspicion than I mean to imply. I guess you've got one State agency managing the property pulling funds from the operating budget of the tenant agencies... and it might make some logical sense from a myopic accounting perspective. But the larger picture is a bit absurd, isn't it?
Instant Update: The second question regarding this article is less dumb and is posed by a NOLA.com commenter Posted by
OpenCharity on 07/16/08 at 1:33AM
Curiously, the report failed to mention the one remaining tenant -- the Lord and Taylor Department Store --- oops the Lord and Taylor MCLNO faux Charity Hospital outpatient clinics.
Intriguing that the Office of Facility Planning and Control would NOW inspect it and see if it is usable. Us poor former Big Charity patients have been subjected to its marble runways and less-than-luxury features while our original home wastes away.
At least if Jerry Jones finds it unsuitable, then it'll be curtains for the place to be for any state purpose
[We eagerly await the results of the independent inspection of Big Charity -- go to http://www.FHL.org for details]
What, indeed, is up with that?
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