New Orleans officials have set an end-of-year deadline for developers to close a financing deal for the former Six Flags site in New Orleans East, five years after former Mayor LaToya Cantrell selected Bayou Phoenix to build a youth sports complex surrounded by hotels, a water park and film studio.
Brenda Breaux, executive director of the New Orleans Redevelopment Authority, which owns the site, said on Wednesday that the agency “will have to take steps” if Bayou Phoenix doesn’t secure financing for the roughly $500 million project by the end of the year.
Breaux, who spoke at NORA’s annual budget hearing before the City Council, did not say what steps NORA would take. She did not immediately respond to an email seeking clarification on Thursday.
“It appears as if they are aggressively looking for (financing). I don’t know what that’s going to shake out to be. I don’t have that crystal ball,” Breaux said…