Economic Development Corporation Board of Directors public meetings in 2021
6 substantive meetings from 2021, 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 previous meeting minutes and review a sponsored item for the Economic Development Award Program (EDAP). The agenda also includes reports from the Secretary Treasurer, Accountant, and President.
- Approval of November 17, 2021, meeting minutes
- Economic Development Award Program (EDAP) item for S & W Wholesale Foods, LLC
The Board approved a sponsored Economic Development Assistance Program (EDAP) award for S&W Wholesale Foods to build a new distribution facility in Tangipahoa Parish. The Board also accepted the Secretary Treasurer's and Accountant's reports. Approval for the S&W project is contingent upon a resolution from the Tangipahoa Parish government.
- Approved $430,200 EDAP award for S&W Wholesale Foods (unanimous), contingent on Parish resolution
- Accepted Secretary Treasurer's Report as of November 24 (unanimous)
- Accepted Accountant's Report as of October 31 (unanimous)
- Omitted approval of previous meeting minutes as they were unavailable
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board of Directors will meet to review meeting minutes from August 12, 2021. The agenda includes a discussion on a loan modification for Hubig's and an update on the Economic Development Site Readiness Program.
- Modification to existing Small Business Loan & Guaranty Program loan for Hubigs
- Economic Development Site Readiness Program (EDRED) update
- Approval of August 12, 2021, meeting minutes
The Board approved a request to reallocate $250,000 of an existing loan for Hubig's Pies to fund payroll costs. The Board also accepted the treasurer's and accountant's reports and received a briefing on the Site Certification Program.
- Approved reallocation of $250,000 for Hubig's Pies payroll (unanimous)
- Approved August 12th meeting minutes with corrections (unanimous)
- Accepted treasurer's report as of October 28th (unanimous)
- Accepted accountant's status report as of September 30, 2021 (unanimous)
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board will consider an Economic Development Award Program (EDAP) project for CSP in Deridder (unsponsored) and a new bank approval for Lendistry under the Small Business Loan & Guaranty Program. The board will also approve July 8 meeting minutes and receive reports from the Secretary Treasurer, Accountant, and President.
- Approval of July 8, 2021 meeting minutes
- EDAP: CSP, Deridder - Unsponsored
- SBLGP new bank approval: Lendistry
- Secretary Treasurer's Report
- Accountant's Report
The Board approved a $1.5 million Economic Development Assistance Program (EDAP) project for CSP DeRidder to build a sawmill facility. The Board also approved Lendistry as a participating lender in the small business loan guarantee program. Additionally, the Board accepted the Treasurer's and accountant's reports.
- Approved $1.5M EDAP project for CSP DeRidder sawmill (Unanimous)
- Approved Lendistry as a participating lender for small business loan guarantee program (Unanimous)
- Approved July 8th meeting minutes (Unanimous)
- Accepted Treasurer's report as of August 2, 2021 (Unanimous)
- Accepted accountant's status report as of June 30, 2021 (Unanimous)
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board of Directors will meet to consider two economic development award applications: one from SNF (unsponsored) and one from Continental Structural Plastics (sponsored). The board will also receive updates on venture capital investments in the New Orleans Startup Fund and the Healthcare Innovation Fund, along with routine financial and administrative reports.
- Economic Development Award Program: SNF (unsponsored) and Continental Structural Plastics (sponsored)
- LEDC Portfolio Update: New Orleans Startup Fund and Healthcare Innovation Fund venture capital investments
- Approval of April 8, 2021 board meeting minutes
- Secretary Treasurer's and Accountant's reports
The Board approved two Economic Development Appropriation Program (EDAP) projects to support industrial expansions in Iberville and Webster Parishes. Additionally, the Board accepted the revised secretary treasurer's report and approved updated banking resolutions.
- Approved $1.5M EDAP award for SNF Holding Company expansion in Plaquemine
- Approved $600,000 EDAP award for Continental Structural Plastics expansion in Sarepta
- Approved April 8th meeting minutes
- Accepted revised June 21st FY-21 secretary treasurer's report
- Accepted accountant's status report
- Approved banking resolutions for Whitney Bank and Iberia Bank requiring two signatures for fund expenditures
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board of Directors will consider approval of March meeting minutes, hear a presentation on the Economic Development Award Program (EDAP) for Avant Organics, review audit reports and financial statements for fiscal year ending June 30, 2020, and receive updates on LEDC investments including venture capital funds. The meeting also includes reports from the Secretary Treasurer, Accountant, and President.
- Economic Development Award Program (EDAP) presentation for Avant Organics, LLC (sponsored)
- Audit reports and financial statements for June 30, 2020
- Valuation of LEDC investments as of June 30, 2020 by Chaffe & Associates
- Portfolio update on venture capital funds: Themelios Ventures II, L.P. and LA Ventures, L.P.
- Approval of March 11, 2021 board meeting minutes
The Board approved a $500,000 Economic Development Award Program (EDAP) for Avant Organics to build a flavoring and aroma facility in Rapides Parish. The Board also accepted the audited financial report for the year ending June 30, 2020, and the Chaffe investment valuation report. Additionally, the Secretary Treasurer's and Accountant's reports were approved.
- Approved $500,000 EDAP award for Avant Organics
- Approved Board meeting minutes from March 11, 2021
- Accepted audited financial report for year ending June 30, 2020
- Accepted Chaffe investment valuation report
- Accepted Secretary Treasurer's Report as of March 26, 2021
- Accepted Accountant's Report as of March 24, 2021
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board will meet to approve minutes from November 2020, consider loan guaranty applications from Hall Builders and Nola Detox, LLC, and receive reports from the Secretary Treasurer, Accountant, and President. Board elections and committee appointments are also on the agenda.
- Approval of minutes from November 12, 2020 meeting
- In House Small Business Loan Guaranty Program Committee – Hall Builders
- Small Business Loan Guaranty Program – Nola Detox, LLC
- Board elections and committee appointments
- Reports from Secretary Treasurer, Accountant, and President
The Board approved a 75 percent loan guaranty for NOLA Detox, LLC to fund a new 32-bed addiction treatment facility in New Orleans. The Board also accepted the Secretary-Treasurer and Accountant reports and elected its annual officers.
- Approved 75% LEDC guaranty on a $1,224,000 line of credit for NOLA Detox, LLC
- Approved minutes from the November 12th meeting
- Accepted Secretary-Treasurer's report as of February 26, 2021
- Accepted Accountant's Status report
- Elected A.J. Roy as Chairman
- Elected Charles Jackson as Vice Chairman
- Appointed members to Screening, Finance, Policy, and Governmental Outreach committees