NEW ORLEANS, LA — Budget Chair Lesli Harris authored the landmark proposed agreement that would deliver over $100 million in cash to stabilize the City of New Orleans’ finances. The ordinance has earned the co-sponsorship of all seven members of the New Orleans City Council.

The agreement, negotiated by the New Orleans Building Corporation, will provide the City with immediate revenue that would otherwise be paid over the next ten years, under a lease agreement with Caesars Entertainment. A third-party entity competitively procured by NOBC will provide the $100 million and will be entitled to collect about $50 million in additional revenue owed under the Caesar’s lease through 2035.

“New Orleans families deserve a city government that is fiscally sound and positioned to deliver the services they count on every day,” said Councilmember Lesli Harris. “This agreement is a responsible, forward-thinking solution that stabilizes our finances while protecting the revenue streams our community depends on, including education support, casino community funds, and critical grant payments.”

Importantly, other key revenues associated with Caesars, including casino support payments, education support funds, and grant payments, will not be affected by the agreement and will remain fully available for their intended community purposes. The ordinance authorizing the agreement was filed last week and is scheduled for consideration at the May 7, 2026, City Council meeting. The transaction is anticipated to close shortly after Council approval.

Councilmember Harris has been a consistent advocate for fiscal responsibility and strategic investment across New Orleans.