Month: July 2018

Category: News + Notes

Robideaux details timeline of talks to privatize the electrical division of LUS 

Nearly two weeks since The Current broke the news, Mayor Joel Robideaux presented a detailed timeline of his talks to privatize the electrical division of LUS through a management agreement with a private equity firm based in Baton Rouge. Robideaux had come under fire for leaving council members out of the conversation, most of whom only learned about the deal in media reports.

3 min read
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Category: Business + Innovation, News + Notes

Council approves a new innovation trust, a possible ‘crypteaux’ vehicle

▸ The gist: On Tuesday, the Lafayette City-Parish Council voted to approve the creation of a new public trust, called the Lafayette Public Innovation Alliance, and seat its first trustees. They were approved to serve five-year terms by the City-Parish Council. Future trustees will be nominated by the mayor-president and approved either by the city-parish council or, if the proposed charter amendments pass, by the parish council. Robideaux named Lafayette Parish the beneficiary of the trust.

2 min read

▸ The trustees are:

  • Chris Meaux – CEO of Waitr
  • Bruce Greenstein –  EVP, chief innovation and technology officer at LHC Group
  • Mandi Mitchell – assistant secretary of Louisiana Economic Development
  • Ramesh Kolluru – VP for research, innovation and economic development at UL Lafayette
  • Joel Robideaux

▸ Uh, what do they do, exactly? The primary goal of this trust is to produce and attract more technology and software development talent in Lafayette. There are no local public dollars being invested into the trust at this time — although Robideaux did offer to throw in the first $100 if that was required to make it kosher. The intent is to leverage the trustees’ contacts nationwide to find grants and get the trust funded and off the ground.

“Certainly any effort regarding a Lafayette-based cryptocurrency would naturally fit within the goals of the trust as I see them,” Robideaux wrote in an email. “More specific, if Lafayette develops a digital token and that token can generate seed money for the trust, then I would be elated.”

▸ What to watch for: Innovation districts. Robideaux indicated the fund could finance innovation districts that would help the region attract new talent. “We need to produce more talent locally, or implement a strategy to attract talent from other places…specifically technology talent,” he said at the meeting. While there was nothing specific about what that might entail, the idea resembles similar efforts underway in Chattanooga, which claims to be the first mid-sized city to establish an innovation district.

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Category: Business + Innovation, News + Notes

Robideaux administration considering sale of LUS’s electric division Mayor in ongoing discussions with private equity firm to purchase or manage the division

Talks between the Robideaux administration and Bernhard Capital Partners over the potential purchase of Lafayette Utilities System have been ongoing since at least the beginning of the year.

5 min read
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