BATON ROUGE, La. (AP) — A key state money panel is taking a look at a $60 million borrowing proposal for New Orleans Saints owner Tom Benson.
The New Orleans Industrial Development Board wants to issue $60 million in bonds to help finance Benson’s purchase and redevelopment of an office complex attached to the Superdome. The Bond Commission considers Thursday whether to approve that arrangement.
The bonds would be used to help Benson finance the purchase of the office building, a nearby vacant mall and a parking garage. The purchase is part of a deal between Benson and the state to help keep the Saints in Louisiana through 2025.
The state will lease office space from Benson and will help him redevelop the vacant mall into an entertainment complex.
 
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