SHREVEPORT, Louisiana – Regions Center’s overdue electric bill has been paid.
Tenants in the downtown towers said an unknown “entity” – not the building owner – paid the SWEPCO bill late Friday afternoon.
On Wednesday, SWEPCO posted signs on the doors of the Regions Center informing tenants that their electricity would be turned off the following Monday due to unpaid utility bills.
Hertz Investment Group, which owns the property, owes SWEPCO more than $455,000, of which $360,000 is more than 90 days past due. Hertz is based in Sherman Oaks, California.
Late Thursday, SWEPCO agreed to extend the payment and acceptance deadline from Monday to Thursday next week.
Michael Corbin, SWEPCO’s field manager, issued a statement saying, “This is the result of an account issue and has been ongoing for some time. SWEPCO is working with Hertz Investment Group to resolve the issue. Notices were posted today to inform renters to make preparations in case power is shut off on Monday. The account is still delinquent.”
According to renters, Hertz told them they would transfer the money to SWEPCO before closing time on Friday, but Corbin says the money never arrived.
Then, according to reports, another party stepped forward and paid the bill.
Corbin could not confirm that the full amount was paid, but said an electronic transfer was made to SWEPCO late in the afternoon.
The Regions Center consists of a 25-story tower and a 16-story building that house some of Shreveport’s largest businesses and companies. Unlike many downtown buildings across the country, the buildings at the Regions Center are over 80% occupied.
Hertz owns numerous commercial properties throughout Louisiana, many of which have made headlines this year due to financial problems. Hertz’s attorney was contacted but declined to comment on the situation.
