Last November, New Orleans voters passed three ballot propositions that authorize the city to issue bonds to raise money for various municipal projects and operations. The propositions approve the following amounts and uses:

• Proposition 1: $45 million for affordable housing
• Proposition 2: $415 million for infrastructure improvements
• Proposition 3: $50 million for stormwater management

Although NAIOP Gulf Coast took no position on Proposition 1, the chapter understands the need for affordable housing in the New Orleans region. Proposition 1 passed with the support of 67% of voters.

For Proposition 2, however, NAIOP took a strongly supportive position. Infrastructure investment is necessary for growth and market stability in the New Orleans region. The bonds will be used to improve streets, bridges, buildings, parks, equipment and more. Proposition 2 passed with an even greater margin, with 77% voting in favor.

NAIOP also supported Proposition 3. Flood and storm damage is an ever-present risk in New Orleans, and these bonds will go toward infrastructure that mitigates these flood risks. This is vital for important development requirements like stable insurance terms. Proposition 3 received the most votes of all, passing with 78% support.

Propositions 2 and 3 will go a long way toward ensuring New Orleans’ infrastructure can support new, high-quality development. Their overwhelming passage represents a major victory for NAIOP Gulf Coast. When developers engage in advocacy at the state and local level, they can achieve major victories for the commercial real estate industry.