Regions Tower Tenants Face Pending Utility Disconnection due to Unpaid Bills Worth Over $468,000

Concerns Rise Among Tenants at Regions Tower Over Unpaid Bills and Power Cut Threat

Shreveport, La. – Tenants at the Regions Center, home to a towering 25-story building, gathered for an urgent meeting to discuss an unsettling situation regarding unpaid utility bills that could jeopardize their daily operations.

Utility Cut-Off Looming

As the weekend approaches, fears rise as SWEPCO, the local utility provider, has announced plans to disconnect power to the building by Monday. Notices were posted at various entrances, informing tenants that the building’s owners, Hertz Investment Group, owe over $455,000 in utility charges, with more than $360,000 aging over 90 days. This denial of service poses a direct threat to the tenants’ businesses and operations.

Water Bills Also in the Balance

The situation worsens as Shreveport Mayor Tom Arceneaux has confirmed that aside from the extensive power bills, the water bill is also unpaid, totaling over $13,000. Fortunately, this liquidity issue has not yet escalated to a disconnection stage, but concerns linger among the tenants regarding what else could follow.

What’s Next for Tenants?

During the meeting, anxieties about the power cut’s imminent effects became apparent. Several tenants expressed dismay at the lack of a clear plan to address the situation. An unnamed source revealed that the mortgage lender has been made aware of the ongoing complications, but no immediate actions or solutions were presented at the meeting.

Responses from SWEPCO and Regions Bank

Michael Corbin, the external affairs manager for SWEPCO, stated that the account issues have been longstanding, and the utility company is actively trying to work with Hertz Investment Group to resolve the matter. Corbin mentioned that the tenants should prepare for the upcoming power outages since the account remains in arrears.

In the midst of this, Regions Bank, whose name is associated with the tower, clarified its position. The bank confirmed to the tenants that it is merely a tenant and not the owner of the building, thus not responsible for settling the outstanding utility bills. They reassured everyone that business operations would continue as normal until a resolution emerges.

Concerns of Future Stability

The uncertainty surrounding the building’s utility payments raises fundamental questions about its future stability. Tenants hope for a swift resolution, but with deadlines closing in, anxiety and unease permeate the once-bustling corridors of Regions Center.