(SHREVEPORT, LA) - A development group is waiting to hear if the City of Shreveport will sign a non-binding memorandum of understanding for a mixed-use water front property proposal called Cross Bayou Point.
Gateway Development Consortium, also called GDC, met with the City Council's Task Force on Small and Emerging Businesses to talk about the project.
GDC wants to build a $1billion property that would take 10-years to complete.
It would include a municipal complex, housing options, a technical school -- and could bring thousands of new jobs.
The Chairman of the Task Force says, the city needs a new revenue stream.
"We need a lifeline, whether it's an influxion of new residents, whether it's an influx of a new economic base. Okay, we need an infusion of new things that will help this city grow," said the Task Force Chairman, City Councilman Willie Bradford (District 8).
The Task Force plans to meet with the entire City Council to talk about the proposal.
The project could come up as a resolution on the Council's agenda in two to three weeks.