WAFB Channel 9, Baton Rouge, LA |Former CAO of East Baton Rouge Government accepts new position

Former CAO of East Baton Rouge Government accepts new position

By Jim Shannon - bio | email

BATON ROUGE, LA (WAFB) Former East Baton Rouge parish chief administrator office Walter Monsour has accepted a new position. He will be named president and ceo of the East Baton Rouge parish redevelopment authority. The $365,000 compensation package is far more than his city pay. But the authority says you get what you pay for.

In Detroit, Michigan back in the 90's October 30th was known as devil's night. Citizens routinely burned down blighted homes all over the city. Today the East Baton Rouge parish redevelopment authority is planning on doing the same thing but in a legal manner. Thursday they tabbed Walter Monsour as their first chief executive officer. "Our goal is obviously acquire properties,bundle them together create a critical mass for a developer to be able to come in and look at a fairly clean pallet,"  said Monsour.

But Walter Monsour does not come cheap. His $365,000 compensation package did not raise the eyebrows of the board who negotiated it.  "Walter had an opportunity to go elsewhere in the private sector at a substantially greater than this compensation package. So he is still taking something of a financial sacrifice in serving us," said John Noland, the chairman of the redevelopment authority.

The redevelopment authority will put together the proper paperwork to literally take blighted properties over. They then will offer them to private developers with incentives.  "We want to make applications for new market tax credits. Were going to be allowed to apply for up to 100 million dollars in new market tax credits and if were successful in getting that than that will get the authority a great deal of leverage with private developers to bring them in to take care of blighted properties." said Monsour.  And avoid any potential citizen involvement as was the case in Detroit.

Monsour says his first order of business will be to hire a second in command the start looking for office space.