Shreveport financial advisor debate heats up - KSLA News 12 Shreveport, Louisiana News Weather & Sports

Shreveport financial advisor debate heats up


The Shreveport City Council voted on Tuesday to move forward with the refinancing of the Convention Center Hotel bonds, but it led to a heated debate over the status of the city's financial advisor.

Currently, the city's official financial advisor is the group Grigsby and Associates, but because Calvin Grigsby is accused of owing the city $53,000, he cannot do any work for the city.

Since the council voted to cut ties with Grigsby in December, both the city council and Mayor's administration have been in a waiting game.

Some City Council members are waiting for the mayor to find a new advisor, but the mayor is waiting for the council to rethink their earlier decision to cut ties.

"You want to say well he owe it he can't work for us, that's crap," council member Rose Mcculloch said during the debate.

The deadline for critical 2011 bond projects are approaching fast.

"We are getting to a very critical time in this process and it is time for us to step forward and act," said Mayor Cedric Glover.

"I don't want to see us move forward without that type of professional advice," said Council Member Sam Jenkins.

The deadline for the Convention Center Hotel bond needs to be made before June.

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