Bossier City is looking to add a new building at the Cyber Research Park in hopes of bringing more high-tech jobs to the area.
The city council on Tuesday approved using a $500,000 grant from the state, with a 25 percent match from the city, to design a Center for Creative Digital Media on the campus of the Cyber Innovation Center.
Bossier City spokesman Mark Natale says the city is interested in benefiting from state tax credits that extend to post-production digital media.
“This is an investment that the city would make in a digital media center that would ultimately bring jobs here to the area,” Natale said. “Technology jobs in the realm of digital media.”
City attorney Jimmy Hall says the city plans to be paid back the $166,000 it puts up for the design when it gets the necessary bond money to actually construct the project.
“And after it’s designed we’ll lock down the leases,” said Hall. “Once those leases are locked down, they’ll go to the bond market and sell the bonds. We’ll get our $166,000 back on the leases and the revenue from those leases will pay the bond indebtedness.”
The total cost of the project could be anywhere from $20-$40 million. It’s not yet known exactly how much of that the taxpayers will be on the line for.
City officials say Bossier Parish will be responsible for 1/3 of the borrowed money.
Officials with Cyber Innovation Center, the non-profit that is in charge of the Cyber Research Park, have not released many details about the project.
The Cyber Innovation Center, which was completed in 2010 at a cost of more than $100 million of local and state money, is at around 82 percent occupancy. The 8th Air Force, which occupies three floors of office space, is set to move its headquarters back to Barksdale Air Force Base next year. Officials at Cyber Innovation Center are working to replace the Air Force with new tenants.
The Bossier City Council also voted to take over crumbling streets at the Stockwell Place Estates subdivision. Residents of the 73-family neighborhood asked for their streets to be taken over by the city since they were never told the streets were actually privately owned and there was no money to get them fixed. The move by the council is dependent on approval by the MPC’s Board of Adjustments, since the roadways are not as wide as city-built streets.