The lease of Millennium Movie Studio between the City of Shreveport and G-Unit Film & Television Louisiana LLC became effective on January 1 of this year.
The lease provides that the facility is to be used by Curtis "50 Cent" Jackson's G-Unit "for the operation of a production studio and/or activities and uses related to the promotion, production, support and/or development of the film, sound, light, movie, music, television, broadcasting, recording and arts industries and the training of personnel to work in such industries."
The lease provides that the City of Shreveport may terminate the lease if G-Unit fails to utilize the studio for the purposes set forth in the paragraph above for a period of 180 days. The City must give 45 days’ advance written notice of its intention to terminate the lease.
When this lease was aggressively promoted by the Arceneaux administration, the G-Unit press corps, rabid Jackson fans and various community members hoping to get on a "make money quick Jackson train" the major selling point was Jackson would bring a big pot of gold to the City and deliver it in six months. Yes 6 months, 180 days, and viola--major activity in the film studio, new jobs, and an instant economic boost for not only Shreveport but all of northwest Louisiana. So far the pot of gold is empty.
The lease does provide major benefits to the City--no maintenance costs , no utility costs and no insurance costs. This savings was at one time estimated to be approximately $250,000 annually. These expenses are being paid by G-Unit which is a good thing. But what about any meaningful activity at the facility?
To compound this issue are two factors. The first is that Jackson purchased many properties in downtown Shreveport. At least one of these is in very bad shape and should be cited be the Property Standards Office. Further deterioration of this building next to The Sandbar on Spring Street could result in falling walls, much like the building on Texas that the City had to demolish.
The other issue in the background is the Louisiana film tax credit. Governor Jeff Landry is calling a special session of the Legislature in November to address tax reform. Landry wants major revisions on tax legislation and the film tax credit could be in jeopardy. What impact any revision of this credit may have on Jacksons' film production plans is unknown.
What is clear to downtown business and building owners is that the verdict is out on whether or not Jackson's downtown buying spree was a good thing or bad. Shreveport already has several absentee building owners, many of whom are doing nothing to improve the properties. Jackson has now joined this group who warehouse downtown properties to the detriment of downtown development.
Bottom line, the City should drop any notions of leasing Expo Hall/Stageworks to Jackson. At the same time, the City should issue an RFP to allow other persons interested in either leasing or buying this facility The City owns too many buildings, and this one has benefitted from major tax dollars for renovation and a new roof. With the exception of a few offices inhabited by SPD, this edifice is another drain on city resources--utilities, insurance and maintenance.
John came to Shreveport in January of 1977 when he was transferred to Barksdale AFB.
He’s been active in Shreveport politics since deciding to make Shreveport his home.
John practiced law for 40 years and he now monitors local politics. He regularly attends Shreveport City Council and Caddo Parish Commission meetings.
John is published weekly in The Inquisitor, bi-monthly in The Forum News, and frequently in the Shreveport Times.
He enjoys addressing civic groups on local government issues and elections.