The New Orleans City Council adopted several pieces of legislation at its regular meeting on May 21, including an ordinance to create a special fund for proceeds from the sale of future lease payments related to Caesars New Orleans Casino.
The creation of this dedicated fund is intended to help address the city’s ongoing fiscal challenges and rebuild financial reserves. The council said the sale is expected to generate at least $100 million in immediate capital, which will be used to strengthen long-term financial stability without increasing debt or reducing city services.
Ordinance No. 35,432 establishes the “2026 Caesars Lease Rent Strip Sale Proceeds Fund.” Under this ordinance, all proceeds from the sale must be deposited into a separate interest-bearing account administered by the city’s Finance Director. Any spending or transfer from this fund requires approval by ordinance from the City Council. The ordinance also mandates annual reporting requirements for transparency.
In other actions, the council appropriated a $5,000 grant through Ordinance Nos. 35,435 and 35,436 to support community outreach staff in promoting healthy behaviors and improving access to healthcare. The council also approved Motion M-26-199 extending Wexford Health Sources Inc.’s contract for inmate healthcare services at Orleans Parish jail through May 31, 2027, with a maximum cost of about $24.3 million.
Additionally, Resolution R-26-220 (Docket No. UD-26-01) was adopted to begin rulemaking on updating Entergy New Orleans’ Integrated Resource Plan rules regarding distributed energy resources such as solar power and battery storage technologies. This review comes in response to significant technological and market changes since these rules were last updated in 2017.
The meeting concluded with recognition of National Water Safety Month and honored Dwayne Johnson Jr., a St. Augustine High School student who recently won his third consecutive state gymnastics championship.