Economic Development Corporation Board of Directors public meetings in 2020
5 substantive meetings from 2020, with official agendas or minutes and plain-English summaries.
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board of Directors will meet to approve the minutes from August 13, 2020, and receive reports from the secretary-treasurer, accountant, and president. The only other business listed is committee appointments. No specific financial amounts, contracts, or project names are mentioned on the agenda.
- Approval of August 13, 2020 meeting minutes
- Secretary treasurer's report
- Accountant's report
- President's report
- Committee appointments under other business
The Board of Directors approved the Secretary Treasurer's and Accountant's reports. Members discussed current loan portfolios, project wins, and the status of certified sites. Committee appointments were deferred to the December meeting.
- Approved Secretary Treasurer's Report (unanimous)
- Approved Accountant's Report (unanimous)
- Approved minutes of the August 13, 2020 meeting (unanimous)
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board of Directors will meet to approve minutes, consider two in-house small business loan/guaranty projects (SumesiteBR, LLC and Purnovis, LLC), and discuss two unsponsored Economic Development Award Program items (Supreme Rice and Cajun Traditions). The meeting also includes reports from the Secretary Treasurer, Accountant, and President. In-person attendance is limited to 50 with COVID-19 safety protocols.
- Approval of June 11, 2020 meeting minutes
- In-House Small Business Loan & Guaranty Program: SumesiteBR, LLC and Purnovis, LLC projects
- Economic Development Award Program: Supreme Rice (unsponsored) and Cajun Traditions (unsponsored)
- Secretary Treasurer's Report and Accountant's Report
- COVID-19 in-person attendance protocols (temperature checks, masks, social distancing)
The Board approved two unsponsored EDAP grants for facility expansions in Crowley and Church Point. The Board also accepted the Secretary Treasurer's and Accountant's reports and approved the June 11, 2020, meeting minutes.
- Approved $750,000 unsponsored EDAP grant for Supreme Rice facility expansion
- Approved $300,000 unsponsored EDAP grant for Cajun Traditions Food Processors facility
- Approved June 11, 2020, meeting minutes
- Accepted Secretary Treasurer's Report
- Accepted Accountant's Report
Economic Development Corporation Board of Directors
The LEDC Board of Directors is meeting to review essential government business via teleconference. The agenda includes in-house approvals for the Small Business Loan & Guaranty Program and an Economic Development Award discussion.
- Small Business Loan & Guaranty Program: TDS Trucking
- Small Business Loan & Guaranty Program: Salud, LLC
- Small Business Loan & Guaranty Program: Chastant Farms
- Economic Development Award Program: South Louisiana Rail Facility
- Audit Reports: Financial Statements for June 30, 2019
The Board approved a $1.6 million sponsored EDAP loan for a rice mill project in Jefferson Davis Parish involving a $10 million equipment investment. The Board also elected A.J. Roy as Chairman and Charles Jackson, III as Vice Chairman.
- Approved $1.6M sponsored EDAP loan for South Louisiana Rail Facility
- Approved minutes for screening and finance committee meetings
- Accepted June 2019 audit report with a qualified opinion
- Accepted Secretary Treasurer's report as of June 5, 2020
- Accepted Accountant's Report
- Passed resolution memorializing former Vice Chairman Alden Andre
- Elected A.J. Roy as Chairman
- Elected Charles Jackson, III as Vice Chairman
Economic Development Corporation Board of Directors
The LEDC Board of Directors will meet to consider a small business loan for TDS Trucking, Training & Technology, LLC under the SSBCI program, and an economic development award for Advanced Sinter Metal Technologies, Inc. The board will also review audit reports and financial statements for the fiscal year ending June 30, 2019, and receive reports from the treasurer, accountant, and president. Additionally, the board will hold elections for officers and committee appointments.
- Small Business Loan & Guaranty Program (SSBCI) for TDS Trucking, Training & Technology, LLC
- Economic Development Award Program for Advanced Sinter Metal Technologies, Inc.
- Audit Reports-Financial Statements June 30, 2019
- Valuation of LEDC Investments as of June 30, 2019
- Election of Officers & Committee Appointments
The Screening Committee approved a request to modify the ending date of an unsponsored $250,000 EDAP contract for Advanced Sinter Metal Technologies, Inc. The committee also recommended that the Board accept a valuation report for ten investment funds.
- Approved modification of Advanced Sinter Metal Technologies, Inc. EDAP contract end date to June 30, 2025 (unanimous)
- Recommended acceptance of valuation report for ten investment funds and one operating company (unanimous)
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board of Directors will meet to approve minutes from the December 2019 meeting and conduct elections for Chairperson and Vice-Chairperson. The agenda also includes reviews of the Small Business Loan & Guaranty Program and the Economic Development Award Program.
- Small Business Loan & Guaranty Program (SSBCI) approval for TDS Trucking, Training & Technology
- Economic Development Award Program reviews for E. I. Williams Industries and Scariano Brothers
- Election of Chairperson and Vice-Chairperson
The Screening Committee approved two sponsored Economic Development Assistance Program (EDAP) grants of $250,000 each. The funds are designated for building renovations for E.I. Williams Industries and infrastructure upgrades for Scariano Brothers.
- Approved $250,000 sponsored EDAP for E.I. Williams Industries building renovations
- Approved $250,000 sponsored EDAP for Scariano Brothers road and infrastructure upgrades