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re: New Orleans is sole owner of Wisner Trust land and revenues, state appellate court rules
Posted on 5/22/26 at 1:55 pm to jimmy the leg
Posted on 5/22/26 at 1:55 pm to jimmy the leg
quote:
Am I understanding this correctly, the court totally ignored what the man intended for his money (trust), and instead gave it all to New Orleans?
The trust had an end date, assets remaining at trust termination go to the remaindermen which was the city,
My guess is the good gentleman thought after 100 years, his descendants could fend for themselves.
1
Posted on 5/22/26 at 1:58 pm to Nosevens
quote:
Especially with a sunset wording of 100 years. That seems to be an intentional choice of limited timeframe towards the trust itself.
Was there a law against perpetuities in 1914?
Posted on 5/22/26 at 1:58 pm to LSUFanHouston
Of the individuals who were beneficiaries of the trust, only a handful were actually descendants of Wisner. Many/most are descendants of the attorneys that Wisner’s shithead wife and kids hired to break up the trust and subvert Wisner’s last will and testament.
Posted on 5/22/26 at 2:04 pm to JohnnyKilroy
The 100 ( maximum possibly as you say) sunset ends regardless and the ownership of land has to be determined obviously. My curiosity as I said was how the initial trust was built, if it cleanly stated after the sunset it becomes owned by NO, LSU and Tulane then that’s it really but if it doesn’t imply that then it would seem the heirs have standing as they were(?) part of the payouts for that period. Sunsets are placed for a reason, I could understand family members trying to argue over
Posted on 5/22/26 at 2:09 pm to Nosevens
quote:
My curiosity as I said was how the initial trust was built, if it cleanly stated after the sunset it becomes owned by NO, LSU and Tulane
As has been stated like 8 times, the original 1914 trust explicitly states that all assets held in trust are owned by the city and the city keeps the assets after the trust expires.
LSU and Tulane (and any other beneficiary) has no ownership claim to the trust assets. The city has owned those assets since wisner died.
Posted on 5/22/26 at 2:15 pm to JohnnyKilroy
No way is the below statement from the original trust as it talks in past tense, “ Wisner required “ or “ the City held the trust” for example, not future description of use. It most definitely is a draft from decision or lawyers for NO
In establishing this trust, Wisner required the City of New Orleans to use funds generated from its use of the land “for the beautification of New Orleans and for the education, health and recreation of the city residents.” As the trust's principal beneficiary, the City held the trust corpus and would receive the bulk of the trust's revenue. Wisner named three income beneficiaries: Tulane University, Charity Hospital, and the Salvation Army. Wisner named the Mayor of New Orleans as trustee. Notably, at the end of the trust's one-hundred-year term, Wisner expressly granted all of the trust's immovable property to the City of New Orleans.
As I mentioned only the original wording of the original trust means anything, everything is is but one sides opinion or final decision, which sometimes has been known to be incorrect
In establishing this trust, Wisner required the City of New Orleans to use funds generated from its use of the land “for the beautification of New Orleans and for the education, health and recreation of the city residents.” As the trust's principal beneficiary, the City held the trust corpus and would receive the bulk of the trust's revenue. Wisner named three income beneficiaries: Tulane University, Charity Hospital, and the Salvation Army. Wisner named the Mayor of New Orleans as trustee. Notably, at the end of the trust's one-hundred-year term, Wisner expressly granted all of the trust's immovable property to the City of New Orleans.
As I mentioned only the original wording of the original trust means anything, everything is is but one sides opinion or final decision, which sometimes has been known to be incorrect
Posted on 5/22/26 at 2:48 pm to JohnnyKilroy
And as I said that particular piece you showed was not original material but rather decision or argument 100 years later. Quote the original piece if you have access
Posted on 5/22/26 at 2:52 pm to LSUFanHouston
Have no clue but a sunset in a trust is not arbitrary in interpretation
Posted on 5/22/26 at 4:26 pm to Nosevens
quote:
Have no clue but a sunset in a trust is not arbitrary in interpretation
Correct. If the language is as reported, it’s pretty clear
Posted on 5/22/26 at 5:14 pm to LSUFanHouston
Saw 2 versions of interpretations, both look to be opinions of 100 years later. Those being that NO, Tulane, LSU & heirs were being paid throughout and the other being NO,LSU & Tulane the bequeathed owners after the 100 years. Those are not the original trust wordings as heirs were apparently getting paid during yet show no inclusion of after the sunset. Again I haven’t seen the original wordings of so obviously just speculation
Posted on 5/22/26 at 6:59 pm to WeeWee
quote:
So does this mean that Charity Hospital will continue to sit vacant instead of being redeveloped or demolished?
LSU cant be bothered to deal with its blighted property. It has fired football coaches it has to pay.
Posted on 5/22/26 at 7:15 pm to ned nederlander
quote:
LSU cant be bothered to deal with its blighted property. It has fired football coaches it has to pay.
If we are going to be sassy, we can also add LSU also needs to rehire once fired coaches as head coaches and special assistant coaches for 100 grand a month.
I love me some Coach Eaux, blighted property be damned.
This post was edited on 5/22/26 at 7:16 pm
Posted on 5/22/26 at 7:41 pm to 4cubbies
NOLA does not deserve shite.....
Posted on 5/22/26 at 8:00 pm to Tarps99
It’s 100 grand a year
Posted on 5/22/26 at 8:01 pm to Nosevens
quote:
Again I haven’t seen the original wordings of so obviously just speculation
Yes I’m with you. I’d love to see the original
Posted on 5/22/26 at 8:43 pm to Sweep Da Leg
quote:
It’s 100 grand a year
You sure about that unless WBRZ wrote the story wrong.
quote:
Orgeron signed a deal Wednesday that ends January 31, 2027, with a base salary of $100,000 paid monthly, according to a term sheet obtained by WBRZ. He will also receive a courtesy vehicle or vehicle allowance.
Posted on 5/22/26 at 9:59 pm to Tarps99
quote:
Might be a good investment with the city in dire financial straits and Port Fourchon acquiring full rights to the land.
Fun little fact, I just checked the Assessor’s page in Lafourche Parish, they list the Wisner properties as the City of New Orleans as owners now. Not sure if this was done recently or if it has been that way for awhile now.
Now as a taxpayer in Lafourche Parish, I noticed that since it is government owned land now, the Assessor’s office shows that Lafourche Parish collects ZERO dollars in property taxes.
I wonder if the Wisner property paid Lafourche Parish Property taxes when it was held by the Trust.
So not only is Lafourche Parish through Port Fourchon paying to lease some of the property for port use to the city, the city is screwing Lafourche Parish by paying ZERO in property taxes to Lafourche parish as a whole because the city owns the land.
The legislature ought to fix that tax loophole.
This post was edited on 5/22/26 at 10:04 pm
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