(The Center Square) – The Caddo Parish Commission voted 7-3 Thursday in favor of placing a $60 million sports complex bond proposal on the November ballot.
Now, parish voters will decide Nov. 3 whether to approve the 170,000-square-foot sports and recreation complex, which supporters say would boost economic growth and tourism, while opponents argue it is not fiscally responsible.
Commissioners Greg Young, Victor Thomas, Roy Burrell, Steffon Jones, Stormy Gage-Watts, Grace Anne Blake and Ron Cothran voted in favor, while Ed Lazarus, John Atkins and Chris Kracman opposed it; Ken Epperson and John-Paul Young were absent.
The complex would be located in an “easily accessible” part of Shreveport, Caddo Administrator Erica Bryant told The Center Square.
The project is estimated to cost $68 million, funded through $60 million in general obligation bonds along with parish dollars and future naming-rights opportunities, according to a parish statement.
The parish will pay the debt from the 1.5 mills it collects on property taxes for bonded debt service. Bryant said that property taxes related to this purpose are not expected to rise.
Atkins said he respects the parish’s desire to initiate a large, impactful project but argued this proposal is not ready to present to voters because a thorough financial evaluation is needed before placing it on the ballot.
Atkins is also concerned about the parish’s bond capacity for additional projects they may want to initiate in the future.
Most commissioners disagreed.
Commissioner Gage-Watts said it’s a strategic investment focused on long-term economic development.
“It’s about creating the revenue we need so everybody gets a piece of the pie,” Jones said.
According to projections, within three to five years of operation, the complex could generate approximately $20 million in direct annual spending, attract more than 136,500 out-of-town visitors each year and create more than 31,750 annual hotel stays, the parish says.
In year one, the facility will generate $1,861,402 and cost $2,104,850 to operate, creating a deficit of $243,449; by year five, it’s projected to post a profit of $270,900, according to a report paid for by the parish.
That report forecasts $11 million in economic impact in year one, increasing to $20 million by year five. The Center Square requested but has not received the consulting firm’s pro forma documents – detailed economic analyses – used to drive their report’s financial projections and summaries.
The Caddo Parish Republican Party issued a statement this week opposing the development, citing fiscal concerns.
It would sit on approximately 12.5 acres, include 700 parking spaces, courts for basketball, volleyball and pickleball, and a 15,000-square-foot family entertainment center. The facility could accommodate cheerleading, dance, wrestling, conventions and other sporting or community events.
Bryant said a proposed site has not been selected yet, but she is considering which area of the city could use additional development. If approved by voters in November, construction of the complex is estimated to take approximately two years.
