TEDA moves forward on confidentiality paradox

The Terrebonne Economic Development Authority grappled again with the paradox: how does it share confidential information about its clients publically?

TEDA currently has 34 active projects, and seven projects on hold.

TEDA has actually conducted a face-to-face meeting or conference call with the interested party in only 11 of the 34 active projects.

All of these projects have codenames to protect the interested party and to not break faith with site consultants.

Site consultants are fickle individuals. They stake out property for companies, while protecting the identity of the company.

The general thinking is that if a land owner learns a large, well-known company wants to buy his property, then the landowner will raise the land’s price, thinking the company can afford to pay for it.

Site consultants and organizations like TEDA that preserve confidentiality ensure this does not happen.

If TEDA were to leak any information about a perspective company at a meeting, the consultants would not only pull out of talks with TEDA, but refuse to do business with the economic development group in the future.

In August, the group’s board members, for the most part, were asked to vote to give TEDA CEO Mike Ferdinand authorization to send a letter of support on behalf of the group for a company code-named, “Inkwell.”

But, a significant portion of the board members did not know anything about the company codenamed, “Inkwell,” and had to vote blindly.

Ferdinand could not inform the board members about “Inkwell,” because TEDA’s meetings are open to the public and the information is confidential.

“Unless we’re sponsoring some kind of crazy terrorist organization and don’t know it, we have to depend on Mike’s ability to decipher a good client,” said former TEDA treasurer and current South Central Industrial Association president Don Hingle at the August meeting. “There’s really no risk to TEDA in my opinion.”

Some boards members do not necessarily feels this way. And currently TEDA is looking for a way to discuss the details of the code-name projects in private in executive session.

“It would be nice to have a little more input in some areas,” said TEDA Recruitment Director Michelle Edwards.

During the board’s September meeting last week, TEDA secretary and the Tri-Parish Times publisher Darrin Guidry suggested seeking an opinion from the state Attorney General as to what can be discussed during executive sessions, which are closed to the public.

Guidry said the reason for seeking the Attorney General’s opinion is to be able to bring it to the legislature for potential legislative action, if the opinion does not allow TEDA to conduct private executive session meetings to discuss such matters.

“If landowners find out these companies are looking, the price jacks up and there’s a whole bunch of ramifications,” said Guidry.

In such a meeting, there would be no voting and strategizing would be limited to discussion of a particular confidential company.

TEDA’s legal advisor Assistant District Attorney James Dagate suggested he write a brief synopsis of the problem on the District Attorney’s letterhead and give his opinion.

With this letter, TEDA would then be able to go to the local legislators for assistance, without being bogged down with the Attorney General’s office.

Dagate’s verbal opinion is TEDA cannot go into a private executive session for strictly strategic planning.

Also during the September meeting, the proposed South Louisiana Wetlands Children’s Discovery Center discovered it would keep its land across from the Houma-Terrebonne Civic Center, despite the interests of hotel companies to develop it, along with another site next to the Civic Center.

The parish administration made the call and just one of the two available sites, site A, will be sent back to the prospective hotels for proposals.

“The parish is going to offer one site only,” said TEDA president Henry Richard.

The interested hotels have roughly 10 days to make proposals for just one hotel site.

TEDA will review the new proposals before recommending one to the parish administration.

Also at the meeting, Chet Morrison Services LLC applied for Enterprise Zone benefits for three investments.

The company is investing $500,000 for additional equipment for its Industrial Boulevard location in Houma, $1 million for additional equipment for its local diving company and $50,000 for additional equipment at its Barataria Avenue location.

All three investments should generate 15 new jobs and $37,500 in tax credits for the company.

Matthew Armand was nominated to be TEDA’s new treasurer, replacing Don Hingle, who currently serves as the SCIA president.