A Multimillion-Dollar Tax Break For Plaquemines LNG and Venture Global LNG

Two industrial projects in Plaquemines and Caldwell parishes were granted multimillion-dollar tax breaks which were approved by The Louisiana Board of Commerce and Industry. Venture Global LNG received $29.8 million in payroll rebates for its Plaquemines LNG terminal.

This will be the second state tax break for Plaquemines LNG, the first was in 2016 and was an Industrial Tax Exemption Program. That tax break totaled $83.5 million in the first year of the contract. This was part of the contract they had filed with Louisiana Economic Development which is a state agency. With the new incentive, there will be around 413 new jobs created with a total payroll of $497 million over a 10-year period.

Louisiana Green Fuels plant located in Columbia will be given a break for $33.5 million in property taxes. The Caldwell Parish company is worth around $1.95 billion and will only have to pay around $8.38 million during the first year of its contract with the state. This plant is slated to be operational in 2026.

Company officials say this plant will be used to create renewable diesel. They will convert wood waste into fuel. Five permanent jobs will be created along with 1,050 construction jobs total $248 million total payroll.

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New Project Set To Be in the Old Times-Picayune Building

This project has been in the works for a while now. The site of the former Times-Picayune at 3800 Howard Avenue has been purchased by a couple of Louisiana businessmen who want to revisit the idea of turning the site into a golf-entertainment project.  The project is slated to be up and running by early 2024. 

In 2016 the site was sold to a developer named Joe Jaeger who purchased it for $3.5 million and was set on turning the property into a Drive Shack.  COVID-19 hit and the company that owned the franchise,  Driveshack, fell into financial trouble. The company agreed to a 20-year lease with the developer so he began construction in 2019 only for them to back out of the deal. Since then, the building has sat vacant and crumbling.  The site soon became a dumping ground for tires and other waste.

The site is now owned by brothers Alex and Nick Xaio who want to finish the golf-entertainment venue.  In fact, they are in the works of trying to purchase the plans from Driveshack.  They have now partnered with Flite Golf & Entertainment to complete the project.  The venue will be very much like a Topgolf which combines golf with indoor entertainment along with food and bar services.

“We’ll follow the same format, but we plan to add a little bit more cool stuff to make it different,” says Alex Xiao.  There will be targets on the driving range that will explode when hit from the third tier, and there will be more traditional range on the second tier.  The project will be called 504 Golf and will employ around one hundred.

“The sale of this property is a great step in the right direction. I am excited to have these local entrepreneurs in District B, bringing not only an opportunity for family entertainment but also creating well over 100 jobs in the city,” praises Lesli Harris, Councilmember for District B.

New Restaurant to Open in Old Elle J’s Location

Elle J’s located on Harrison Avenue in Lakeview closed this summer and after closing was picked up by the owners of Velvet Cactus and Wrong Iron. Now that they have leased the space, they are working on the plans for a new restaurant.

According to Rusty White, one of the project partners, the new restaurant will be called Outpost 45 which will be a casual, family-friendly restaurant. The menu is set to mix local flavors with American comfort food along with a bar. The restaurant is slated to open in March 2022 and gets its name from the bus line that serves Lakeview.

The popular spot has been other restaurants in the past including Elle-J’s and Mondo. Mondo was an eclectic neighborhood go-to for 10 years and was owned by Rosedale’s Chef Susan Spicer. Spicer is also the owner of Bayona and another restaurant in the Louis Armstrong New Orleans International Airport.

“We all live here in Lakeview, and we want something that’s going to be good for Lakeview,. The thing about Lakeview is, if you do something good the neighborhood is so loyal they will support it,” says White.

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Five Upgrades To Do To Create Your Dream Kitchen and Bath

For ages those in the industry have told sellers that a bathroom or kitchen remodel will also benefit the resale value of their home. Homeowners always think of these upgrades when they are ready to sell their home. Homeowners should do the upgrades while they still live in their home so they can enjoy the benefits. Here are five things to do to upgrade your kitchen and bathroom for you to add style and functionality.

1. Upgrade Your Kitchen Cabinets

Upgrading your kitchen cabinets can instantly give your kitchen a new and refreshed look. You can simply buy an off-the shelf style or have custom cabinets built. If you would like to make your kitchen feel bigger and brighter, then a shaker-style cabinet in white is the perfect option. Choose cabinets with the functions that you want and that will work for you. Remember what kind of material a cabinet is made out of is important, those made out of plywood are stronger and are better at holding off water damage.

2. Install New Countertops

Another great way to give your kitchen a great new look is by getting new countertops. Today’s countertops are more durable and easier to maintain. “We’re seeing a lot of new materials in countertops. Products like ultra-compact, quartzite and porcelain are incredibly strong; scratch-, stain- and heat-resistant; and require practically zero maintenance,” says Ximena Johnson, product manager at Cabinets to Go.

3. Add a Stylish Bathroom Vanity

When you think of a bathroom vanity, you think of storage and a counter to put your toiletries, but a bathroom vanity is just as much the focal point of a bathroom. Getting a new vanity in your bathroom will give the whole room a refreshed look. “Homeowners are becoming more adventurous. Statement colors like rich Newport Blue and warm Montpelier Sage are having a moment. At the same time, classic favorites like Nantucket Bluff, a gorgeous, warm cream, are being used in fun and refreshing ways. Bathrooms are a great place to play with a pop of color, especially if you’re not ready to commit in the more high-traffic rooms of the house. We’re renovating in my own home right now and using Newport Blue raised-panel cabinets for our bath vanity,” says Johnson.

4. Switch to Waterproof Flooring

Hardwood floors are very popular, however they are prone to water damage. A good alternative is a vinyl floor that has a hardwood look. “XRP waterproof vinyl flooring stands up to daily traffic and can be installed just about anywhere in the home and over a variety of subfloors, including bathrooms, kitchens, living rooms and bedrooms,” suggests Johnson.

5. Rethink the Little Touches

“The devil is in the details when you’re remodeling, particularly when it comes to important, everyday rooms like kitchens and bathrooms,” says Johnson. If you do not want to do a big rehaul in your bathroom or kitchen, update smaller elements in the room. Change out the cabinet handles for a more updated look or add a tiled backsplash behind a vanity or the kitchen stove.

Remember the little touches can create a fresh new look in your kitchen or bathroom. These small touches can make you fall in love with these rooms in a new light!

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Small Businesses Are Considering Alternative Lenders Over Traditional Banking

Many small businesses in the U.S. have been getting frustrated with traditional banks and their loans. Businesses have voiced that the process is very slow and burdensome, even though there are strings attached when it comes to using alternative lenders.

According to a study from the Harris Poll, 62% of small businesses admit they need more financing and 68% say they need fast cash. Five hundred small business owners with $25,000 to $20 million in annual revenue were surveyed. Many surprisingly said they would rather wait in line at the DMV, sitting in congested traffic, assemble furniture or clean a toilet rather than apply for a loan through a traditional bank.

Eighty-four percent of small businesses agreed that they would be open to applying for financial services through outlets such as fintech and e-commerce platforms. Of these small businesses, 51% said it would be because of affordable loans, 49% instant loan approval, and 45% said it would be due to using a single platform to manage their finances.

The Small Business Administration (SBA) will hopefully come to the rescue. While Unit itself does not make loans, it works with five banks that provide financial products, which fintech companies can then market on the bank’s behalf.  This would be made through a proposed rule change from the SBA. The proposed rule would let fintechs and other alternative lenders apply for a license in order for them to be able to offer SBA-backed 7(a) loans. This will speed up the process but at what costs?

“The faster it is to get the money, the scarier the rates and terms will be,” says Ami Kassar, the founder and chief executive officer at MultiFunding, a Philadelphia-based consulting firm focused on business financing options.

Her advice is to slow down and make sure you know the terms and conditions of the loans. This includes interest payments and the frequency of payments which will determine how this will impact your cash flow.

“You have to be extraordinarily careful, really understand if you’re taking a loan what your monthly payment is going to be, and make sure you’re not getting yourself in a debt trap, ” advises Kassar.

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