Hilcorp Might Purchase Phillips 66 Refinery in Belle Chasse

This can be both good news and bad news for Belle Chasse and Plaquemines Parish. Phillips 66, which is based out of Houston wants to sell its Alliance Refinery in Belle Chasse. The good news is that Hilcorp Energy Co. is considering purchasing the refinery but the bad news is over 850 workers and contractors who are employed at the current refinery will be out of a job.

Hilcorp would have to shut down Alliance to be able to convert the refinery which is located on the lower Mississippi River into an oil export terminal. Hilcorp feels the refinery is a possibility to be incorporated into Hilcorp’s growth strategy. In 2020 the company acquired BP PLC’s in all of Alaska adding it to the already huge Hilcorp Alaska private oil and gas operator.

Hilcorp is also based out of Houston and was founded in 1989. It is the largest privately-owned oil and natural gas producer in the country. They provide oil, petrol and natural gas.

The Alliance Refinery is about 25 miles south of New Orleans. The refinery gets its crude oil from the Gulf of Mexico by pipeline and U.S. tight oil by barge. Most of the refined products from the refinery are distributed around the eastern United States. It is distributed through the major common-carrier pipelines and by barge.

The refinery, built in 1971, sits on 2,400 acres in Belle Chasse and has a capacity to process 255,600 barrels of crude oil each day, most of which is refined into gasoline. This sale could see a potential of $500 million.

Click Here For the Source of the Information.

New Project Set To Be Constructed on Al Copeland’s Lakefront Property

Years ago Al Copeland Sr., founder of Popeyes Fried Chicken, purchased a big piece of lakefront property in Mandeville. His plans for the property, a 30,000 sq. ft. home, horse stables and a helipad never happened. Today, the Copeland family has given the 29-acre property that is worth $7 million to the LSU Health Foundation.

The LSU Health Foundation, a nonprofit, plans to use the land to house a $150 million LSU-affiliated retirement community. The proceeds earned from the land lease will go to benefit cancer research in honor of Al Copeland Sr. who died from rare cancer. The complex will include an age-restricted apartment complex, restaurants, retail stores and a boutique hotel.

Mandeville residents and leaders support the project and believe that it is something the community needs. The project will bring jobs to the community as well as a place for medical students to learn and have hands-on experience.

“To me, it makes great use of that 20- plus acres that’s been neglected,” City Council member Rick Danielson said.

The first phase of the project will be an apartment complex that sits on the waterfront section along with restaurants, stores and a hotel. The 5-acre parcel that is not waterfront has plans to become an assisted living and memory care center. The center would give LSU Health Sciences Center students an opportunity to work and train in geriatrics.

The age restriction will be set at 55 and older and the number of housing units will follow Mandeville’s zoning requirements. The project is in the first stages of land surveys, test pilings and permitting which will take a little over a year.

“None of this would have happened without the
generosity of Al Copeland Jr., ” Altier said. Al Copeland Sr. died of a rare cancer, and it was LSU Health Sciences Center doctors who developed a treatment for it. “He has a passion to cure cancer,” Altier said of the late
millionaire’s son.

Click Here For the Source of the Information.

Riverfront Hotel Planned for New Orleans Convention Center Will Still Happen

The Ernest N. Morial Convention Center has chosen AECOM-Broadmoor to oversee their $557 million project to upgrade the complex. This is the first upgrade project since the convention center was constructed in 1984. The center has already tapped into the budget and spent $115 million on updates through the linear park which runs along the 11 blocks in front of the complex.

“We’re looking forward to digging into this project, collaborating with the entire community of trades and professionals involved to create a highly functional, beautiful, 21st century Morial Convention Center for everyone who visits it,” said AECOM-Broadmoor’s spokesperson Amy Ferguson.

Now the once cancelled hotel that was part of the project has been restored. Texas-based Matthews Southwest will take on the 500-room hotel. The hotel is just part of the new additions at the upriver end of the Convention Center. The multi-acre area will include retail, residential and an entertainment district.

The new hotel will include 13-stories along with a 28,000 square-foot festival deck that looks out onto the river. The hotel will sit on the South Front Street side and be connected to the Convention Center. The elevated pedestrian walkway that connects the hotel to the center will include restaurants and retailers.

This is great news for the city of New Orleans as its convention center is the only one in the country that does not have an attached hotel. The new project will definitely help New Orleans compete for event business with other convention centers throughout the country.

Click Here For the Source of the Information.

Biden Administration To Cut Payments on Government-Backed Loans

The COVID-19 pandemic has hurt our economy and the well-being of our country tremendously. July 2021 the administration announced that there will be new loan modification options for those who have government-backed home loans. Biden’s administration wants to give borrowers the opportunity to catch up or keep paying their mortgage payments due to the struggles the pandemic has caused.

The Federal Housing Administration (FHA) insured mortgages will be eligible to receive up to a 25% reduction on their principal and interest. You do have to be impacted by COVID-19 in order to receive help. In exchange, borrowers will have the life of their loan extended in order to be able to make lower monthly payments.

Those who have a loan back from the Department of Agriculture will receive up to a 20% reduction on their principal and interest. Ways borrowers can do this is to have an interest rate reduction, term extension and a mortgage recovery advance. Again, borrowers will need to be reviewed to make sure they qualify.

For VA loans there is a new COVID-19 Refund Modification which will have many tools that can help borrowers to obtain up to a 20% savings on their monthly principal and interest.

If you are in the market for a home, now is a good time to purchase. Find a professional Realtor in your area. For more information on any relief, assistance visit consumerfinance.gov/housing.

Click Here For the Source of the Information.

Seven Louisiana Towns To Escape to for a Weekend

When Louisianans think of a weekend getaway the Gulf Coast usually comes to mind but there are some perfect getaways throughout the rest of Louisiana. These charming small towns are great places to go for rest and relaxation. Here are seven small towns located in Louisiana that are perfect for nature lovers to main street shoppers.

1. Breaux Bridge

This is a perfect town for those who want to experience some Cajun food and take in some nature. Breaux Bridge has a population of about 8,300 so it is not too small but not too big. There are several local Cajun restaurants to enjoy and the stunning Lake Martin is located here. Nature lovers can spend all weekend exploring Lake Martin.

2. Covington

Located just north of the city of New Orleans, Covington is located in St. Tammany Parish. Downtown Covington has many shops and restaurants to try. On Columbia Street or Lee Lane, you will find local boutiques, antique stores, and restaurants. One of the oldest general stores in Louisiana, H.J. Smith and Sons is located in Covington. This small city has around 10,000 residents but feels like a small town.

3. Ville Platte

Definitely a place for a nature lover who wants a quiet relaxing place to stay. Described as a place to get away from it all where you can rent a waterfront cabin at Chicot State Park. The area offers nature trails, canoeing and the Louisiana State Arboretum. This is a state preservation area which is the first state-supported arboretum in the country.

4. Natchitoches

This is one of the larger cities on the list with around 18,000 residence. The downtown area gives you a small-town feel and is loaded with history. In fact, Natchitoches is the oldest city in Louisiana. For those who love to dive into the culture, the 33-block Historic District is the place to be.

5. St. Francisville

This is known to be a sleepy little Louisiana town but the area has a lot to offer for a weekend getaway. All around the town are rolling hills and beautiful ancient oaks. It is also home to one of the country’s most haunted plantations called Myrtles Plantation.

6. Grand Isle

Everyone loves the beach and Grand Isle is a perfect beach getaway. There is 10 miles of public beaches on Louisiana’s only inhabited barrier island. Visitors can even spend the night on the beach at Grand Isle State Park.

7. Abbeville

Close to Breaux Bridge, Abbeville is another town that is bigger in size but still has a small-town vibe. This is perfect for nature lovers to shoppers to all the in-between. Palmetto Island State Park is located here which has cabins to rent, RV hookups and primitive campsites.

Louisiana is a great place to both live and vacation. The warm climate makes it a nature lovers’ dream and the culture throughout the state is like no other.

Click Here For the Source of the Information.