Shreveport and G-Unit Stageworks Lease on Hold: What’s the Holdup?
In Shreveport, Louisiana, a proposed lease agreement that would significantly impact not just the local economy but also the sports and entertainment scene, is, unfortunately, experiencing significant delays. The lease, between the City and G-Unit Films & Television, has been temporarily put on hold by the city’s attorneys, with cordial approval from the Shreveport City Council until ongoing negotiations are contained.
The reason behind the delay
Shreveport City Council Chairman, Alan Jackson, speaks on the matter with crisp clarification. He expressed the delay was due to the need for “working out all of that legal jargon.” He affirmed the Council’s dedication to scrutinizing every detail and assured that when the lease was ready, it would get the Council’s endorsement. Jackson reiterated, “we’re just waiting for that lease to be ready.”
The proposed G-Unit transformation
The lease agreement, once approved, would allow G-Unit Films & Television Inc. to transform part of the Stageworks Louisiana building into a state-of-the-art sports and entertainment venue. According to documents released to the council, the venue will host a range of amateur and professional leagues and tournaments. Including basketball, volleyball, boxing, and MMA. In addition, the venue would also be open for seminars, conventions, auto shows, concerts, and business meetings.
A hold-up with significant implications
Everyday that passes delays the potential economic growth and opportunities this venture can bring to Shreveport. The ordinance offering G-Unit a 30-year lease for only $2,400 a year with potential to extend for an additional 15 years, was introduced on April 23. As of July 9, however, the ordinance has not been approved.
What’s next and potential timeline?
There isn’t a clear timeline or expected date for the completion of the lease negotiations. What is clear, however, is the commitment of all parties involved in ensuring that all the clauses in the lease agreement are agreeable and beneficial. Citizens of Shreveport, stakeholders in the Stageworks project, and all sports and entertainment enthusiasts will now have to wait for the legal jargon to be ironed out and for the lease agreement to be approved before they can celebrate this major development.