St. Charles Parish Industrial Development Board Meeting - December 22, 2025
St. Charles Parish Industrial Development Board Meeting - December 22, 2025
The Industrial Development Board of the Parish of St. Charles held a meeting on December 22, 2025, at 11:30 AM in the Council Chambers, Courthouse. Key actions included approval of minutes from December 2024, election of a new Vice President, acceptance of a clean audit, and passage of three resolutions, including one authorizing a conveyance for IMTT's facility improvements totaling approximately $35 million.
Call to Order & Opening
- The meeting was called to order with a moment of silent prayer followed by the Pledge of Allegiance.
Consent Calendar
- Approval of Minutes: The minutes from December 5, 2024, were approved by unanimous voice vote (motion by Mr. Bosco, second by Mr. Cologne, no discussion).
- Welcome of New Members: Samuel F. Elliott, Jr. (term through October 2031, replacing Jeffrey Lemoine) and Patrick Beard (term through October 1, 2027, replacing Corey Faucheux) were formally welcomed.
Election of Officer
- Due to the resignation of Corey Faucheux, the board elected a new Vice President. Raymond nominated Mr. Bosco, who was elected by unanimous voice vote.
Public Comments & Testimony
- During the public hearings for Resolution No. 2025-1 and Resolution No. 2025-2, no members of the public came forward to address the board. For Resolution No. 2025-2, Michael Jones, Chief Accounting Officer for IMTT, provided an update on the company's activities (see Discussion Items).
Discussion Items
- Review of 2024 Financial Audit: Amy Verbine of Carr Riggs Ingram, LLC, presented the audit results. It was a clean audit with no findings or deficiencies, but one improvement point was noted: documentation of bank reconciliation and general ledger activity reviews by board members should be more consistently recorded (e.g., initials, dates, or email confirmations). The audit report showed increased LAMP (Louisiana Asset Management Pool) account balances due to interest income, and a slight increase in cash from interest. Receivables of $42,000 from KMI and IMTT leases were paid shortly after year-end. Expenses were minimal (audit fees and bank charges). The board accepted the audit by unanimous voice vote.
- Review of Financial Statement (January 1 – November 30, 2025): The board reviewed a document showing current LAMP and checking account balances and year-to-date activity. It was received for information and noted in the minutes.
- Update from IMTT (Resolution No. 2025-2): Michael Jones reported that the Act of Conveyance for 2025 reflects asset additions of approximately $35 million, including expanded infrastructure for renewable diesel feedstock customers (BP and P66). He highlighted ongoing projects: additional pipeline connectivity to a soybean crushing facility in Des Allemands, and continued work with St. Charles Clean Fuels on a proposed blue ammonia facility (not yet final investment decision). The idled St. Rose refinery is being marketed for potential restart. The board noted that some improvements from 2023 and 2024 were also included in this resolution.
- Ad Valorem Tax Abatements Information: The board reviewed two sheets showing the assessed value of tax abatements in St. Charles Parish. In 2022, abatements totaled over $1 billion; in 2025, that figure dropped to $636 million, primarily because 10-year exemptions for older projects expired and those properties were fully placed back on the tax roll. The RANDA project, previously a parish council project, is now an Industrial Development Board project.
Key Outcomes
- Resolution No. 2025-1 (Adopt and ratify the 2024 Louisiana Attestation Questionnaire): Approved by unanimous voice vote after a public hearing with no comments. The resolution ratified the document that was submitted earlier in the year as part of the 2024 audit.
- Resolution No. 2025-2 (Approve Act of Conveyance for IMTT 2025 additions and improvements): Approved by unanimous voice vote after a public hearing and an update from IMTT. The resolution authorizes the execution of the conveyance for the acquisition and construction of facility improvements.
- Resolution No. 2025-3 (Adopt the 2025 Louisiana Attestation Questionnaire): Approved by unanimous voice vote. The resolution adopts the questionnaire as part of the upcoming 2025 audit.
- The board adjourned on a motion by Mr. Bosco and second by Mr. Cologne, with a voice vote.
Meeting Transcript
See it. All right, we'll go ahead and call a meeting to order. Would everyone please rise for a moment of silent prayer followed by the pledge. I pledge allegiance to the United States of America. To the Republic. Under God. Individual. All right. Our first item. This is the December 22nd, 2025 meeting of the Industrial Development Board of the Parish of St. Charles. First item of business is the approval of the minutes from December 5th, 2024. We have a motion. Motion by Mr. Bosco. We have a second. Second by Mr. Cologne. Any discussion? All those in favor signify by aye. Aye. Any opposed, motion carry. Next, we'd like to welcome two new members to our board. First is Mr. Samuel F. Elliott Jr. was recently appointed to replace Jeffrey Lemoine. And his term will be from October 25 till October of 2031. And also Mr. Patrick Beard, who is replacing Mr. Corey Fourche, appointed in September of 25. His term expires October 1st of 27. Welcome, my boy. Look forward to working with y'all. Thank you. Next is we have to have an election of an officer, the office of vice president due to the resignation of Mr. Corey Forshay. Our current officers and myself is president and Mr. Bobby Colone is our Secretary Treasurer. So we need nominations for a vice president. Here we have the nomination. Raymond nominates Mr. Bosco. Any other nominations? If not, we'll go ahead and we'll have an election. Mr. Bosco. All those in favor, Mr. Bosco signify by aye. Aye.
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