Say NO to the Omni deal
The city should say NO the Omni project until the developers make clear how the project will cost the people of New Orleans.
The proposed Omni project would give hundreds of millions in taxes away to the developers over 45 years, padding corporate profits while residents of New Orleans deal with skyrocketing cost of living and city and state budgets face projected shortfalls.[1]
Meanwhile, developers hope to get a property tax agreement, or PILOT (payment in lieu of taxes), to lower their financial payments to the city, buy and decommission a street, and get a huge benefit in the form a special zoning bonus that lets them build more than twice what’s allowed. City Council should say NO to this until we know what ALL the costs are. We deserve to not be left in the dark.
The math just doesn’t add up for New Orleans:
- New Orleans had to slash its 2026 budget by $150 million with projected $222 million deficit.[2]
- Omni gets to $57 million profit by year 11 of 45 years of tax subsidies totaling $669 million.
- New Orleans gives up who knows how much money in zoning bonus, PILOT deal, and public right of sale where we don’t know the details.