As Yogi Berra once said "it's deja vu all over again." That's the feeling many may experience when reviewing the proposed lease of Expo Hall to Curtis "50 Cent" Jackson's G-Unit Film and Television Louisiana, LLC.
The lease virtually reads the same as the lease of Millennium Studio to Jackson--$200 per month plus payment of utilities, taxes, insurance, upkeep and maintenance. The lease is for 30 years with an option to renew for another 15 years.
The permitted uses of the property by G-Unit include television and film production, amateur and professional boxing, MMA matches, seminars, conventions, auto show, and concerts.
Currently, approximately 4,500 square feet on the second floor of Expo Hall are being used as office space by SRAC. The cost to SRAC will be 5% of the monthly operating costs of G-Unit. If given notice to vacate, G-Unit will pay the City up to $250,000 for a relocation payment. This is a BIG difference from the Millennium lease and an important one--The City has no space at that facility.
Many may question a new lease to G-Unit since there have been very limited activities if any at Millennium Studios sent leased to Jackson. Needless to say, there should be substantial discussion of this proposal by the Shreveport City Council before approval of the lease.
One can expect a slick media push by Jackson.
Stay tuned.