Cold storage site to be decided

The Terrebonne Economic Development Authority is expected to decide today on the location where a much anticipated cold storage facility and incubator project could be built, offering members of the seafood industry, agricultural community and even grocery businesses a center they can count on to help keep operations alive even during disastrous weather conditions.

On Thursday, members of a special TEDA site evaluation committee graded seven pieces of property, offered by the Houma-Terrebonne Airport Authority, the Terrebonne Port Commission, Richard Development and Cropland Investment Group.

Committee members used a grading scale where points allotted and totaled singled out the properties that best met specific development criteria.

After a meeting, that lasted more than two hours, saw various committee members change their grades – usually by lowering a number allotted – to break a numbered tie on the total 90-points possible itemized list of requirements, and was argued to be as fair as any evaluation could be, the top scores went to two pieces of property presented by Cropland Investment Group.

“I thought the process was very transparent and fairly done,” said Ronald Shaw, managing member of the Cropland Investment Group. I’m pleased with the results and I hope the full [TEDA] board will be too.”

When the numbers were totaled Cropland carried a score of 86 on one piece of property and 85 on the second place offering.

Each Cropland site is 10 acres located just off La. Highway 24, about half a mile north of U.S. Highway 90 in Gray. Each piece of property, located on what were at one time sugarcane fields, is touted as being cleared and ready for construction.

Cropland is offering either property with a lease-purchase option and a primary term of 20 years.

Cropland’s Site A is being presented with a lease option at $3,500 a month with adjustments being made every five years. Site B carries the same terms as Site A but at a monthly rate of $4,300.

A second option for the Cropland properties is for lease purchase with total purchase rates of $500,000 for Site A and $575,000 for Site B.

The third place property, which had at one time been the frontrunner in the selection process, is a tract referred to as airport one and offered by the Houma-Terrebonne Airport Commission. This piece of property scored 81 points.

This first of three Airport sites presented to TEDA is on La. Highway 24 behind a row of existing businesses. Officials noted this piece of property as having an elevation level of up to 9 feet above sea level and less prone to flooding than other airport locations. The 10-acre site carried a minimum lease bid of $310.62 per month.

Other property scores included airport property two with 71 points; airport property three at 52 points; Port Commission property listed 79 points; and Richard Development secured 78 points.

“Our number one site was in the top three,” said airport commission director David Slayter. “We were here to offer the option and opportunity. However, we do understand that they have to make a selection based off what their criteria is.”

Slayter and Shaw each noted that the effort has not ended until after the full TEDA board has final say today.

Some TEDA members asked about the location grading said that although it looks promising for Cropland it’s not a slam dunk. Other elements, such as overall cost will be considered by full board members.

Developer Ron Shaw shows property on Highway 24 in Gray that graded highest in TEDA scoring for the location of a cold storage facility, and upon which he envisions the development of an entire corporate park. MIKE NIXON