2007-0173
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(DEPARTMENT OF ECONOMIC DEVELOPMENT & TOURISM)
ORDINANCE NO.
Title
An ordinance to approve and authorize the execution of a Cooperative Endeavor Agreement with the REG Destrehan, LLC.
Body
WHEREAS, Article VII, Section 14(C) of the Louisiana Constitution of 1974, as amended, authorizes the State of Louisiana and its political subdivisions, including the Parish, to engage in cooperative endeavors with each other, with the United States or its agencies, or with any public or private association, corporation or individual, for a public purpose, and the Parish has found and determined that the economic benefits from the Development described below constitute a valid public purpose for which such a cooperative endeavor may be entered into; and,
WHEREAS, REG is negotiating for the long term use of certain property located either within the existing industrial footprint of the International Matex Tank Terminal facilities in St. Rose, Louisiana, or on a site owned by Bunge North America, Inc., near Destrehan, Louisiana; and,
WHEREAS, REG desires to develop a 54 million gallon biodiesel production facility; and,
WHEREAS, the Parish acknowledges and agrees that the Development will result in increased tax revenues to the Parish and will lead to additional economic activity in the Parish, resulting in many new jobs generated for employees engaged in the construction and ongoing operation of the Development and that the Development will thereby advance the economic base of the Parish, as well as the prosperity and welfare of its citizens, and is a direct benefit to the Parish and its residents; and,
WHEREAS, in consideration of the acquisition and construction of the Development and the provision by REG of certain economic benefits to the Parish, the Parish desires to offer payment of certain amounts to REG as consideration for REG's agreement to provide certain economic benefits to the Parish in the form of the Development itself, added employment, enhanced tax revenues and other tangible and intangible economic benefits to the Parish resulting from the Development; and,
WHEREAS, it is the desire of the Parish Council to approve said funding request to ensure the stability of this successful, economic development effort.
THE ST. CHARLES PARISH COUNCIL HEREBY ORDAINS:
SECTION I. That the Cooperative Endeavor Agreement between the REG Destrehan, LLC and St. Charles Parish is hereby approved.
SECTION II. That the Parish President is hereby authorized to execute said Cooperative Endeavor Agreement on behalf of St. Charles Parish.
Vote
The foregoing ordinance having been submitted to a vote, the vote thereon was as follows:
And the ordinance was declared adopted this day of , 2007, to become effective five (5) days after publication in the Official Journal.
CHAIRMAN:
SECRETARY:
DLVD/PARISH PRESIDENT:
APPROVED: DISAPPROVED:
PARISH PRESIDENT:
RETD/SECRETARY:
AT: RECD BY: