Tenant in works for Baker-Heritage buildingBy LEONARD GRAY / L’Observateur / January 20, 1999LAPLACE – The Port of South Louisiana has found a new tenant has been found for the former Baker-Heritage building on West 10th Street in Reserve.
Published 12:00 am Wednesday, January 20, 1999
Stockhausen Louisiana Inc. is due to occupy the facility, built by St. Johnthe Baptist Parish out of economic development tax funds, sometime next month. A final approval is required from the State Bond Commission.That approval, executive director Gary LaGrange said during last week’s South Louisiana Port Commission meeting, is required since rent payments from Stockhausen will be used to defease the outstanding bonds on the building.
Stockhausen is to pay $65,000 up front and $16,000 per month during the next three years, with an option for a three-year extension. Also, therevenue will permit the port to establish a building maintenance fund for major maintenance such as the building’s roof.
That approval from the bond commission is expected at its meeting tomorrow in Baton Rouge.
During LaGrange’s regular director’s report at the commission meeting, ever-increasing revenues and a drop in matching fund requirements for port projects was said to mean a bright future for the Port of South Louisiana.
According to LaGrange, “These are figures we’re very happy about.”During 1992-1997, grants totaling $18.6 million have been received by theport. In the past year alone, $12.2 million was received. And, he continued,$30.5 million more is anticipated through 2001, an increase of 61 percent.The port’s share of matching funds for various projects during 1992 to 1997 totaled $13.1 million. During the past year, $3.1 million wascontributed. The port’s share in the past year was $3.1 million. Through2001, however, the port share should total only $7.9 million, a drop of 40percent, LaGrange continued.
Since the Port of South Louisiana was launched in 1968, $203 million in improvements have been made in the region’s port facilities, he continued, possibly one of the best in the nation.
A port master plan of development is scheduled to be released next month as a kickoff for increased marketing of the Port of South Louisiana and its Globalplex facility in Reserve.
The Globalplex water tower will also soon feature a Port of South Louisiana logo which, LaGrange quipped, “will put us in the big league with New Orleans and Baton Rouge, I suppose.”The port is also working with Nitin Kamath of CDS Inc. to establish aninteractive port facilities map on the port’s website, LaGrange continued.
All three parish governments would have access as part of their own economic development programs.
The maps would highlight statistics and maps of available industrial and commercial sites throughout St. James, St. John the Baptist and St.Charles parishes.
“We would be the first port to do this,” LaGrange pointed out.
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