In The News › Industrial Development Board Names New President

Apr 28, 2008

Source: New Orleans CityBusiness

Industrial Development Board Names New President

Industrial Development Board names new president

Real estate consultant Tyrone Wilson will succeed Jimmie Thorns as president of the New Orleans Industrial Development Board, a city agency that has issued real estate developers more than $3 billion in federal bonds and tax abatements since Hurricane Katrina.

The 15-member board elected Wilson after the resignation of Thorns, a real estate consultant who had led the board since 1999.

When asked his goal in leading the agency, Wilson said he hoped to “continue doing what we’ve been doing and moving good projects forward.”

In the twilight of Thorns’ tenure, the veteran leader drew criticism from the City Council and the Bureau for Governmental Research for giving low-interest federal bonds or tax abatements to virtually all the developers who sought them. Thorns responded by opening discussions of adding new requirements to the approval process, which currently requires only one analysis of a project’s economic impact submitted by the developer and a vote by the board.

Wilson said discussion of reform will continue but he did not expect too much change.

“We are in the process of updating our process, rearranging our procedure and streamlining policies and procedures,” Wilson said. “But there aren’t going to be any major changes.”

Apr 28, 2008

Source: New Orleans CityBusiness

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