NEW ORLEANS — Mayor LaToya Cantrell’s office announced a Cooperative Endeavor Agreement between the city and the Sewerage and Water Board of New Orleans that articulates how recurring funds collected through Mayor Cantrell’s Fair Share Initiative will be allocated.
The CEA was passed by the City Council during its regular session June 18.
“Last year we made a commitment to the people of New Orleans that not only would we fight for their fair share of the tax revenue that they help generate to fix our aging infrastructure, but also that we would ensure that their money would be spent efficiently. This CEA reaffirms our commitment to manage our taxpayer revenue with transparency and accountability,” said Mayor Cantrell.
Last year, Cantrell, Gov. John Bel Edwards and representatives of the hospitality industry agreed on a plan for one-time funding and re-dedication of several taxes to support the city’s critical infrastructure needs. The one-time funding included $35.6 million transferred from the New Orleans Ernest M. Morial Convention Center and state revolver loan forgiveness, as well as $16 million in state hazard mitigation grant funding under state/federal review. The recurring annual revenue of up to $26 million will go into the city’s Infrastructure Maintenance Fund to support SWBNO projects and infrastructure work by the Department of Public Works. The COVID-19 pandemic has reduced the amount of available recurring revenue.
“The Sewerage and Water Board of New Orleans believes this structure will help improve and maintain the water, sewer and drainage infrastructure for the City of New Orleans, and in turn improve the health, welfare, and safety of the citizens of New Orleans,” said Ghassan Korban, executive director of the Sewerage and Water Board. “Securing funds for our critical infrastructure takes a community effort. We are thankful for the partnership of both Mayor Cantrell and the City Council.”
