Council orders RFQ to value Wisner Trust property as members weigh long-term options

The New Orleans City Council voted unanimously Thursday to begin a consultant selection process to value and recommend administration options for property held in the Wisner Trust.

Council members said press reports and public interest made a formal, independent valuation necessary now that the city holds fee simple title. The motion directs the council chief of staff to issue and advertise a request for qualifications and/or proposals for consultants to determine the property value, recommend best and highest use and advise on administration options.

During floor remarks, several council members urged the procurement to include a focus on cultural funding uses. Councilmember Eric Burnside observed that Wisner revenues have historically supported cultural activities and suggested proceeds from a hypothetical sale could help address long-term pension liabilities, such as contributions to the firefighters’ retirement fund. "Perhaps we should give some consideration to what use we might put this Wisner's trust to help us in the long term," Burnside said.

Councilmember Green said administrators should consider continuing or expanding support for cultural and recreation programming that has benefited from prior Wisner revenues. Officials described the RFQ step as an objective first phase before any sale, lease or other administration decision.

Ending: The RFQ and consultant-selection process will begin; council members asked for transparency about revenue scenarios, surveys and assumptions that consultants will use in their valuation and administration recommendations.