Episode Details

The latest development is that New Orleans leaders have unveiled a plan to bring in just over $100 million in immediate cash to help stabilize the city’s finances, and it’s moving quickly toward a City Council vote next week. The money is expected to come from a deal involving future lease payments from Caesars casino. Instead of waiting to collect that rent over the next nine years, the city would sell those future payments upfront to a financial institution at a discount. In return, the city gets roughly $103 million in cash now. Joe Giarrusso, Chief Administrative Officer for New Orleans, joins Newell to talk about it.