LSU System President Wade Rousse admits there’s not been much movement in building a $400 million arena next to Alex Box Stadium. Rousse says the LSU economic development district that’s generating the funding for a proposed arena is collecting money.
“Nothing has been spent yet. Where it’s going to be spent kind of depends on if we end up getting an arena or not,” Rousse said.
A lawsuit has been filed to prevent the LSU Economic Development District from levying a sales tax on nearby businesses, because the tax was implemented without voter approval.
Rousse says they are also looking for other funding sources to build the new arena, but he opposes taking money away from the academic side. He’s hopeful state government will put money towards the project.
“No interest in a substitution effectively taking away from the academic side of the house. But if the State understands the economic development that comes with that, we’re more than willing to put up the property,” Rousse explained.
Rousse says money remains the biggest challenge in getting the arena built.
“We’re still trying to figure out what are the actual dollars needed to get that done and make sure that it doesn’t come from; there can’t be a substitutional effect from our academic side of the house. The money would have to be injected into the system from the State, and so on,” Rousse said.