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FOR IMMEDIATE RELEASE:
May 7, 2026
New Orleans City Council Moves to Protect Caesars Proceeds, Boost Financial Transparency
Harris-Led Package Ensures Casino Lease Sale Funds Dedicated to City’s
Fiscal Recovery
NEW ORLEANS, LA — The New Orleans City Council today took decisive steps to strengthen financial oversight and accountability at City Hall, advancing a package of legislation, led by Budget, Audit, and Board of Review Committee Chair, Councilmember Lesli Harris, that will govern how the City manages proceeds from the sale of future lease payments from Jazz Casino Company, L.L.C. for the Caesars New Orleans Casino.
Councilmember Harris introduced an ordinance, co-authored by all fellow councilmembers, to establish the 2026 Caesars Lease Rent Strip Sale Proceeds Fund, a dedicated, interest-bearing account that will house the more than $100 million in anticipated proceeds from the Caesars rental strip sale. The measure ensures that no funds can be spent or transferred without City Council approval by ordinance, guaranteeing public scrutiny and elected oversight before a single dollar is deployed.
The Council also adopted an amendment to Ordinance Cal No. 35,426, the underlying Caesars lease sale authorization, to codify the Moreno Administration’s public commitments directly into the legislation. The amendment makes explicit that the entirety of the sale proceeds will be used to rebuild the City’s Fund Balance rather than cover recurring operating expenses.
“New Orleans is in the middle of a real fiscal crisis, and the decisions we make with these Caesars proceeds will shape this city’s financial health for years to come,” said Councilmember Harris. “This fund ensures that every dollar is protected, accounted for, and subject to public oversight, no exceptions. The people of New Orleans deserve nothing less.”
The Council also advanced legislation to streamline the City’s monthly financial reporting requirements, modernizing the tools the Council uses to monitor the City’s fiscal health. Together, the measures reflect the Council’s unified commitment to transparency, accountability, and responsible stewardship of City resources during a critical moment in mew Orleans’ financial recovery.
“This is about more than one transaction,” Harris added. “We are building the infrastructure of accountability that should govern how this city manages its finances going forward. The Council is united in that commitment.”
“The City of New Orleans remains in a serious budget crisis, and we cannot enter hurricane season with a depleted rainy day fund. This measure, combined with strong public oversight, will strengthen the City’s fiscal responsibility and puts us on the path forward to financial recovery,” said Council President J.P. Morrell. “I thank Mayor Moreno for bringing forward creative, outside-the-box solutions to address our budget challenges. I also want to recognize Annie McBride of the New Orleans Building Corporation for her partnership throughout these negotiations, and thank my City Council colleagues for their support.”
“As a city, we are in a defining moment. Our focus is on working creatively to restore financial stability in a prudent and responsible way. By placing the Caesars proceeds into a separate account subject to council oversight and reporting requirements, we are doing our part to ensure that the money is managed appropriately from the start,” said Council Vice President Matthew Willard.
“I am proud to support this special fund to improve the transparency and accountability of the Caesar's rental income strip sale proceeds,” said District A Councilmember Aimee McCarron. "Now, more than ever, the City of New Orleans needs responsible oversight of all funding sources. This ordinance codifies the Moreno Administration's commitment that these one-time funds will be used to rebuild the city's fund balance and strengthen our financial future, not to cover recurring expenses. It’s an important step forward, and I remain committed to working with my Council colleagues and the Administration to ensure transparency as we protect the long-term stability of our city.”
“We are dedicated to continued collaboration and transparency surrounding the Caesars agreement and the associated budget reporting measures”, said Councilmember Freddie King. “These efforts represent an important step toward ensuring accountability, fiscal responsibility, and long-term investment in priorities that benefit the residents of New Orleans. We look forward to continued partnership as this work moves forward.”
“It is critical that the public’s interest be protected in a transaction involving the sale of lease proceeds of this magnitude. The importance of transparency, accountability, and financial safeguards cannot be overstated. This measure reflects the Council’s commitment to protecting the future financial stability of the City while ensuring that both the Council and the Administration remain accountable to the people of New Orleans,” said Councilmember Eugene Green.
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Contact:
Emma Trunkle
Director of Communications
Councilmember Lesli Harris, District B
Emma.Trunkle@nola.gov
406.871.4693
 New Orleans City Council
The New Orleans City Council is the legislative branch of the New Orleans city government. The Council considers and enacts all local laws that govern the City of New Orleans. The Council also approves the operating and capital budgets for the City, as recommended by the mayor, and continually monitors revenues and expenditures for local government operations. The City Council is also the regulatory body for public utilities. It also reviews and has the final say on many land use and zoning matters, as well as considers major economic development projects for the City. As a Board of Review for Orleans Parish, the Council examines appeals of property tax assessments for real estate taxes and certifies tax rolls to the Louisiana Tax Commission. Other responsibilities of the Council include overseeing the operation of the public access television in Orleans Parish. Streaming video and video archives of the City Council's Regular and Committee meetings can be found on the City Council website.
The City Council is comprised of five districts and Councilmembers-at-large: Council President and Councilmember-at-Large JP Morrell; Council Vice President and Councilmember-At-Large Matthew Willard; District "A" Councilmember Aimee McCarron; District "B" Councilmember Lesli D. Harris; District "C" Councilmember Freddie King III; District "D" Councilmember Eugene J. Green, Jr.; and District "E" Councilmember Jason Hughes.
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