Quantcast

Caddo Parish Commissioners Consider $10 Million Loan to Elio - KTBS.com - Shreveport, LA News, Weather and Sports

Caddo Parish Commissioners Consider $10 Million Loan to Elio

Posted: Updated:
SHREVEPORT, La -

It's been a bumpy ride to Shreveport for start up company Elio Motors, since they announced in January they would start making their three wheeled vehicle in the former GM plant. In May, it was revealed that the company may not have enough capital from private investors to get things going, so they requested a $15 million dollar investment from the Caddo Commission, a request that was eventually denied. And in the same month, another road block for Elio, as it was discovered that motorists would be required to wear a helmet while driving the three wheeled vehicle. A bill was passed in by the Louisiana legislature resolving that issue, and it now it seems some Caddo Commissioners may be revisiting the option of investing in the company.

A few commissioners are saying, How could we not help Elio open their doors and bring those jobs to our area? That's why a few members want the Caddo Parish Commission to rethink loaning $10 million tax dollars to help get the start up company off the ground. John Escude is a Caddo Parish Commissioner. He says he's behind the move to loan Elio Motors $10 million dollars as start up capital because not only will it bring 1,500 jobs to the area, he also said, It's a good investment. "In a time when we need high paying jobs, it's in our best interest to at least consider helping them if there's a reasonable and prudent way to do it. Whatever the parish does, we will have full collateral and security on whatever assistance we choose to make them. And the latter part of that is that we expect to get all of that consideration returned to us, so we're not giving them anything."

Randy Lucky is the Assistant Caddo Parish Administrator. He said if this is a move the commission wants to make then the administration must follow through, if they can manage to do it at all, legally. Lucky said, "A lot of thought process is going into this on how we need to go about this and if we can even make this happen. There's a whole lot of things that have to take place before anything like that can happen."

District 12 Commissioner Ken Epperson is introducing the legislation supporting the loan. He says Elio Motors will have to make the investment worthwhile with collateral. "This 10 million dollar loan will be guaranteed by collateral of 10 million or more until paid in full. That means any buildings, any assets, any land, any un leased mineral rights will be in the hands of the Caddo Parish Commission and the citizens will have a safe investment."

This idea is just a recommendation from the Caddo Parish Economic Development Committee. They have to recommend the idea to the full body of commissioners on August 5th and if it's introduced, the Commission will have public hearings on the issue before making a decision on the loan. Commissioners say they will also use a current appraisal of Elio Motors before moving forward with a decision on the $10 million dollar loan.

 

  • News NowMore>>

  • 1 Dead in Shooting in Shreveport's Highland Neighborhood

    1 Dead in Shooting in Shreveport's Highland Neighborhood

    Monday, July 28 2014 2:07 PM EDT2014-07-28 18:07:42 GMT
     One man is dead and his roommate is talking to police about what he says happened on Holly Street near East Kings Highway.
     One man is dead and his roommate is talking to police about what he says happened on Holly Street near East Kings Highway.
  • Landrieu hammering Cassidy on banking agency

    Landrieu hammering Cassidy on banking agency

    Monday, July 28 2014 1:15 PM EDT2014-07-28 17:15:12 GMT
    U.S. Sen. Mary Landrieu is making a campaign issue out of a congressional fight over a banking agency targeted for elimination by conservative Republicans.
    U.S. Sen. Mary Landrieu is making a campaign issue out of a congressional fight over a banking agency targeted for elimination by conservative Republicans.
  • City of Natchitoches to hold recycling meeting

    City of Natchitoches to hold recycling meeting

    Monday, July 28 2014 8:51 AM EDT2014-07-28 12:51:20 GMT
    The City of Natchitoches will hold a community meeting on Tuesday to discuss ways to encourage and increase participation in citywide recycling efforts. 
    The City of Natchitoches will hold a community meeting on Tuesday to discuss ways to encourage and increase participation in citywide recycling efforts. 
  • KTBS 3 InvestigatesMore>>

  • KTBS 3 Investigation finds low levels of chlorine in Shreveport's public pools

    KTBS 3 Investigation finds low levels of chlorine in Shreveport's public pools

    Sunday, July 27 2014 10:00 PM EDT2014-07-28 02:00:13 GMT
    National data from the CDC reveals one in eight pool inspections found serious violations that threatened public health and safety and resulted in immediate closure. Pretty gross, right? 
    National data from the CDC reveals one in eight pool inspections found serious violations that threatened public health and safety and resulted in immediate closure. Pretty gross, right? 
  • Overton Brooks' Patient's appointment cancellation causes concern

    Overton Brooks' Patient's appointment cancellation causes concern

    Friday, July 11 2014 2:28 PM EDT2014-07-11 18:28:29 GMT
    We've been told by many veterans that they receive quality care at the V.A. hospital in Shreveport. But for some getting an appointment to see their caregivers is the challenge. According to our V.A., they do not have a problem getting patients seen quickly - and the numbers they report echo that conclusion. We’ve uncovered concerns, however, over how their numbers look so good - while patients are still waiting to be seen.“Certainly from my viewpoint here, as a veteran, as a physician, the c...
    We've been told by many veterans that they receive quality care at the V.A. hospital in Shreveport. But for some getting an appointment to see their caregivers is the challenge. According to our V.A., they do not have a problem getting patients seen quickly - and the numbers they report echo that conclusion. We’ve uncovered concerns, however, over how their numbers look so good - while patients are still waiting to be seen.“Certainly from my viewpoint here, as a veteran, as a physician, the c...
  • Overton Brooks Patient says V.A. is lying about access to care

    Overton Brooks Patient says V.A. is lying about access to care

    Friday, July 11 2014 2:14 PM EDT2014-07-11 18:14:50 GMT
    So far we've brought you a whistle blower employee, and then, after two weeks of waiting, you heard the official V.A. response. But it's said that there are three sides to every story.“We're not challenged for access at Overton Brooks, we can provide same day access, that's why we're encouraging same day access, that's why we're encouraging veterans to enroll into our system.” Those are the words from Interim Director at Overton Brooks V.A. Medical Center, Toby Mathew, during the news confere...
    So far we've brought you a whistle blower employee, and then, after two weeks of waiting, you heard the official V.A. response. But it's said that there are three sides to every story.“We're not challenged for access at Overton Brooks, we can provide same day access, that's why we're encouraging same day access, that's why we're encouraging veterans to enroll into our system.” Those are the words from Interim Director at Overton Brooks V.A. Medical Center, Toby Mathew, during the news confere...
  • ArkLaTex SlideshowsMore>>

  • ArkLaTex Adoptable Pets

    ArkLaTex Adoptable Pets

    Monday, July 28 2014 10:51 AM EDT2014-07-28 14:51:53 GMT
    There are lots of animals in the Ark-La-Tex who are looking for that perfect home.
    There are lots of animals in the Ark-La-Tex who are looking for that perfect home.
  • Bossier's 30th Young Marines class graduates

    Bossier's 30th Young Marines class graduates

    Monday, July 28 2014 8:33 AM EDT2014-07-28 12:33:50 GMT
    Photo courtesy Allen J.M. Smith, BPSOPhoto courtesy Allen J.M. Smith, BPSO
    Twenty-nine recruits ranging from eight years old to teen years earned the title as Bossier Sheriff's Young Marines as Class 30 graduated in front of a packed house of 200 people Friday night at the Bossier Sheriff's Substation in Bossier City.
    Twenty-nine recruits ranging from eight years old to teen years earned the title as Bossier Sheriff's Young Marines as Class 30 graduated in front of a packed house of 200 people Friday night at the Bossier Sheriff's Substation in Bossier City.
  • KTBS 3 St. Jude Dream Home opens for public tours

    KTBS 3 St. Jude Dream Home opens for public tours

    Friday, July 25 2014 9:24 AM EDT2014-07-25 13:24:04 GMT
    KTBS 3 St. Jude Dream Home photos courtesy of Courtney Avery.KTBS 3 St. Jude Dream Home photos courtesy of Courtney Avery.
    The 2014 KTBS 3 St. Jude Dream Home is now open for weekend tours.
    The 2014 KTBS 3 St. Jude Dream Home is now open for weekend tours.
  • Assignment EducationMore>>

  • No summer break for NSU art student

    No summer break for NSU art student

    Monday, July 28 2014 9:36 AM EDT2014-07-28 13:36:25 GMT
    Crystal Dunning, NSU StudentCrystal Dunning, NSU Student
    Crystal Dunning is spending her summer immersed in the arts. Dunning, a junior from Lafayette at Northwestern State University, is working at the Interlochen Center for the Arts as an intern in the College of Creative Arts.
    Crystal Dunning is spending her summer immersed in the arts. Dunning, a junior from Lafayette at Northwestern State University, is working at the Interlochen Center for the Arts as an intern in the College of Creative Arts.
  • Purses Enjoyed by Others: A fundraiser for educational scholarships for women

    Purses Enjoyed by Others: A fundraiser for educational scholarships for women

    Friday, July 25 2014 6:00 PM EDT2014-07-25 22:00:15 GMT
    Shreveport is the host of Northwest Louisiana's chapter of  P.E.O. with an annual purse drive called "Purses Enjoyed by Others".  The drive is happening now until the event weekend of October 11.
    Shreveport is the host of Northwest Louisiana's chapter of  P.E.O. with an annual purse drive called "Purses Enjoyed by Others".  The drive is happening now until the event weekend of October 11.

  • Teachers prepare for start of new school year

    Teachers prepare for start of new school year

    Thursday, July 24 2014 9:08 PM EDT2014-07-25 01:08:03 GMT
    Students may still be enjoying summer break, but teachers have been hard at work trying to learn Louisiana's new math and ELA standards.
    Students may still be enjoying summer break, but teachers have been hard at work trying to learn Louisiana's new math and ELA standards.
  • NationalMore>>

  • Deal to improve veterans' health care costs $17B

    Deal to improve veterans' health care costs $17B

    Monday, July 28 2014 2:29 PM EDT2014-07-28 18:29:01 GMT
    After more than six weeks of sometimes testy talks, House and Senate negotiators have agreed on a compromise plan to fix a veterans health program scandalized by long patient wait times and falsified records...
    A bipartisan deal to improve veterans' health care would authorize at least $17 billion to fix the health program scandalized by long patient wait times and falsified records covering up delays, the bill's chief...
  • Rule aimed at cutting coal-fired plant's emissions

    Rule aimed at cutting coal-fired plant's emissions

    Monday, July 28 2014 2:25 PM EDT2014-07-28 18:25:34 GMT
    The federal government has come up with a final version of a rule meant to cut haze-causing emissions from the largest coal-fired power plant in the West.
    The federal government has come up with a final version of a rule meant to cut haze-causing emissions from the largest coal-fired power plant in the West.
  • Suspect dead, marshals and cop wounded in NYC

    Suspect dead, marshals and cop wounded in NYC

    Monday, July 28 2014 2:17 PM EDT2014-07-28 18:17:55 GMT
    Authorities say a sex-assault suspect got in a shootout with law enforcement in New York City that wounded the suspect, two federal marshals and a police officer.
    Authorities say a sex-assault suspect got in a shootout with law enforcement in New York City that left the suspect dead and two federal marshals and a police officer wounded.
  • KTBS 3 News Tips

    Send your news tip or story idea to the KTBS 3 Newsroom.  Enter your email address below to get started.

    * denotes required fields
    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Thank you for your submission to KTBS 3 News.  A member of our staff may contact you for more information.

  • Local NewsMore>>

  • 1 Dead in Shooting in Shreveport's Highland Neighborhood

    1 Dead in Shooting in Shreveport's Highland Neighborhood

    Monday, July 28 2014 2:07 PM EDT2014-07-28 18:07:42 GMT
     One man is dead and his roommate is talking to police about what he says happened on Holly Street near East Kings Highway.
     One man is dead and his roommate is talking to police about what he says happened on Holly Street near East Kings Highway.
  • Landrieu hammering Cassidy on banking agency

    Landrieu hammering Cassidy on banking agency

    Monday, July 28 2014 1:15 PM EDT2014-07-28 17:15:12 GMT
    U.S. Sen. Mary Landrieu is making a campaign issue out of a congressional fight over a banking agency targeted for elimination by conservative Republicans.
    U.S. Sen. Mary Landrieu is making a campaign issue out of a congressional fight over a banking agency targeted for elimination by conservative Republicans.
  • National gay rights group hires Arkansas director

    National gay rights group hires Arkansas director

    Monday, July 28 2014 1:12 PM EDT2014-07-28 17:12:56 GMT
    A Little Rock native who has worked for several nonprofits will be the first Arkansas director for the nation's largest lesbian, gay, bisexual and transgender civil rights group.
    A Little Rock native who has worked for several nonprofits will be the first Arkansas director for the nation's largest lesbian, gay, bisexual and transgender civil rights group.
Share Your Images
Powered by WorldNow
    Powered by WorldNow
    All content © Copyright 2000 - 2014 Worldnow and KTBS. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
    Advertising | EEO Public File | KTBS 3 Public File | KPXJ 21 Public File