Bossier City avoids going to court against U.L. Coleman over south Bossier development
The Bossier City Council agreed at a special meeting Tuesday to settle with U.L. Coleman Company over a proposed development in south Bossier.
The City of Bossier City will enter into a Consent Decree and Cooperative Endeavor Agreement with U.L. Coleman Company, Sequoia venture No. 2, Ltd., A. Teague Parkway, L.L.C., and Walker Place, L.L.C. to facilitate and fund infrastructure in a 90-plus acre commercial and residential development in south Bossier.
The city will not only grant a curb cut on the Arthur Ray Teague Parkway, but will pay $6.7 million from the Riverboat Gaming Fund for damages, pay millions in infrastructure costs, and donate land for a city park.
“In working with U.L. Coleman, the city realized that a curb cut will be necessary,” said Mark Natale, Bossier City public information officer.
The litigation filed in 2008 centered around the establishment the curb cut on the parkway for access to the proposed development to be located north of Walker Place. As part of the agreement, the city will grant the cut and a median cut on the parkway.
The city will also:
- Reimburse the company $10.4 million for infrastructure in the mixed use development.
- Pay $1 million to develop greenspace for a park on city property north of the CenturyLink Center. U.L. Coleman Company will pay for the park’s design.
- Pay for construction of an elevated pedestrian/bicycle walkway over the Teague Parkway in the vicinity of the proposed park.
- A transfer of 39.4 acres of city property for use in expanding the mixed use development to more than 90 acres. The property to be transferred is bordered by Walker Place, Barksdale Boulevard, Angelle Drive and CenturyLink Drive.
- Pay $6.7 million in damages and costs.
U.L. Coleman Company has agreed to fund $100,000 to implement regulations to provide standards for future residential and commercial development in the Barksdale Boulevard corridor in South Bossier.