MAYOR CANTRELL ANNOUNCES AGREEMENT REACHED ON ‘FAIR SHARE’ INITIATIVE, FUNDING FOR INFRASTRUCTURE
NEW ORLEANS — Mayor LaToya Cantrell today released the following statement, marking the successful completion of negotiations with tourism leaders and state and local lawmakers to secure critical infrastructure funding estimated to generate more than $200 million over five years:
“We have a deal — and we are being true to our word: The people of New Orleans are getting more of their fair share, with critical revenue being directed towards our infrastructure at a time when the need is dire,” said Mayor Cantrell. “I’m proud to say we found a way to get to a ‘win-win’ that secures vital funds and unprecedented recurring revenue, without ever losing sight of the City’s best interests in the long run. It wasn’t an easy road to get here, but it was far more important that we get this deal done right — than that it get done in a hurry.
“The need remains the need, and there remains a gap between what we’re getting and what we ultimately have to have — but this is a vital first step, and a huge win for the people of New Orleans. This puts us on a sustainable path to making investments in the basic infrastructure needs of the City.
“This deal represents not only hope for reinvestment in our infrastructure, but also a more clear-eyed and responsible approach to transparency and accountability when it comes to our tourism industry. The safeguards put in place with this agreement will improve oversight and accountability at the local level, and protect the City’s tax interest moving forward.
“We were told it couldn’t be done. We were told not to try. And we stand here today with a commitment of $200 million more than we have ever had to invest in the infrastructure our people and all of our industries depend on.”
Follow Mayor Cantrell here and City of New Orleans here on Twitter for further updates.
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