Concerns Grow Among Regions Tower Tenants Over Potential Power Shutoff

Shreveport Faces Looming Utility Cut-off

In Shreveport, Louisiana, tenants of the Regions Center are grappling with uncertainty as news spreads about an impending power disconnection set to take place next week. A meeting held this afternoon left many tenants anxious about the fate of the facility, which includes a towering 25-story building and an adjoining 16-story structure.

Utility Provider’s Plans to Disconnect

According to signs posted by SWEPCO at the building entrances earlier this week, the utility company plans to cut off electricity on Monday due to over £455,000 in overdue bills. Alarmingly, nearly $360,000 of that debt is more than 90 days overdue. In addition to the electricity issue, Shreveport Mayor Tom Arceneaux confirmed that there are also unpaid water bills exceeding $13,000, although they have not yet reached a critical cut-off stage.

Building Owners Silent

The building’s owners, Hertz Investment Group, based in Sherman Oaks, California, have not responded to inquiries about the overdue bills or their resolution efforts. Furthermore, sources suggest that the mortgage lender for the building is now aware of the situation.

Communication from SWEPCO

Michael Corbin, an external affairs manager for SWEPCO, stated that the situation stems from an ongoing account issue between the utility and Hertz Investment Group. Corbin emphasized, “Notices were put up today, to inform tenants to make preparations in the event of power being shut off on Monday. The account is still in arrears.”

Clarification from Regions Bank

While the building bears the Regions Bank name, the bank has clarified that it does not own the facility. A representative stated, “It is important to note that, while our name is on the tower, Regions Bank does not actually own the facility. In other words, we are not the ones responsible for paying the building’s power bill or other building expenses.” The bank assures its clients that operations continue as usual, despite the ongoing utility issues.

Community Response and Next Steps

The situation has prompted concern among tenants, who are wondering how much longer the building can sustain itself without a viable financial plan. As the deadline for the power cut approaches, many are left to ponder their next steps should the lights go out in the Regions Center.