The Louisiana Stadium and Exposition District (LSED) will pay the city of New Orleans $2.35 million for the use of its La Salle Street property, which is part of Champions Square. The city expects to receive LSED’s first payment Friday, May 29.
The total will be paid over five years and represents a deal struck by the City and LSED over back rent for use of the land.
Formally opened in August 2010, Champions Square Champions Square, an area for pregame tailgate parties, concerts and other events. Despite being used by the LSED for nearly a decade, the agency that oversees the Superdome, the Smoothie King Center and the John A. Alario Sr. Event Center in Westwego, never reached an agreement to compensate New Orleans for city-owned property included in the space.
“For years the City of New Orleans has sought its fair share from the LSED for use of the City’s LaSalle Street property, and we are proud to announce that a resolution has finally been reached,” said Mayor LaToya Cantrell. “The City has always been entitled to reasonable compensation for its property, and after many years of asking, LSED has finally made good on its promise to our people and our community.”