Politics for August 24, 2008

• By CAPITOL NEWS BUREAU
• Published: Aug 24, 2008 - UPDATED: 12:05 a.m.

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Roemer says bank likely to expand

Former Gov. Buddy Roemer said his Business First Bank would most likely expand into Texas.

Roemer visited Tyler, Texas, last week to work on the expansion.

“Tyler is a neat, no longer small town,” he said. “It’s got a number of processing plants, timber industry, a lot of oil and gas.”

The bank already has locations in Shreveport-Bossier, Mandeville, Baton Rouge and Lake Charles.

Roemer resigned from The Shaw Group’s board of directors earlier this year to focus on the bank.

‘This is Antoine’s — not Hooters’

State Treasurer John Kennedy had a quick response Thursday for why the state should back tax-free borrowing for Antoine’s Restaurant in New Orleans.

“This is Antoine’s, not Hooters,” he told the State Bond Commission.

The commission agreed, giving preliminary approval to $12 million in Gulf Opportunity Zone bonds for the French Quarter restaurant.
Congress created the GO Zone bonds after 2005 hurricanes Katrina and Rita to spur economic development through tax-free, low-interest borrowing.

Rick Blount, the restaurant’s chief executive, said the Rue Saint Louis building sustained massive damage during Katrina and the insurance proceeds are drained.

Even before the storm, the 150-year-old building needed work, he said.

Tickets for gala to cost $10,000