The new law creates new disclosure requirements for contractors and new responsibilities for the city, including keeping a list of "non-responsible" contractors.
Supporters argue the change could bring in more funds, while opponents worry the city would lose control over collections.
Over the summer, Mayor Cantrell met with a group opposed to the plan, telling them to come up with their own ideas for how to use the building. The group has been working on it but has not heard from city officials since July.
The City Council will begin hearings next week to determine whether it’s going to make any changes to Mayor Cantrell’s draft before finalizing a budget by the end of November.
A key indicator of the city’s financial health — recurring general fund revenue — in 2022 is expected to be within three percent of 2019 levels.
The ordinances would allocate the first dollars from the estimated $380 million the city expects to receive from the federal American Rescue Plan.
The plan received preliminary approval this week from a City Council committee, but still needs final approval from the full council.
The city is estimating an $8.6 million loss in 2021 and a $7.7 million loss in 2022 due to Hurricane Ida and a related tax cut from the Orleans Parish Assessor.
The company’s report indicates that after a few years of improvements, the city’s electric reliability may be slipping once again.
