By ROBIN SHANNON

L’Observateur

VACHERIE – The St. James Parish Council on Wednesday voted unanimously to consider an ordinance to authorize the issuance and sale of up to $35 million in GO Zone bonds for Nucor Corp.’s planned steel facility in Convent.

Upon approval of the ordinance, which will be voted on at the council’s next meeting July 6 in Convent, the funds will be added to a roughly $600 million pool of GO Zone bonds from the Louisiana State Bond Commission for construction of the first phase of Nucor’s planned steel and iron manufacturing plant, a direct reduced iron facility.

In introducing the ordinance, Parish President Dale Hymel said it is unclear how the additional funds will be spent.

Hymel said the land acquired for construction of the facility is being primed, and actual construction of the $750 million first phase should begin in the coming weeks.

The direct reduced iron facility in Convent is the first of five planned phases at the site, which could reach an estimated investment of $3.4 billion over the seven-year plan.

The request by Hymel to add the ordinance came late during the meeting, and it was not on the original agenda. Hymel said Parish Bond Attorney Hugh Martin approached him with the proposal Tuesday afternoon, which was too late for it to be added.

The council voted 7-0 in favor of deviating from the agenda to introduce the ordinance, but the late request did not sit well with Council Chairman Ralph Patin, who expressed his frustration about the late request.

“Why does it seem that there is always an ordinance dealing with money or tax exemptions that needs to be added to the agenda at the last minute,” Patin said. “I’ve had enough of it. I’m sick and tired of this happening. Why can’t this stuff get on the agenda like everything else?”

Hymel said the State Bond Commission meets only about twice every month and there are deadlines and timelines that need to be considered.

He also said he was not asking for immediate approval, just introduction of the ordinance.

Martin also addressed the council and apologized for the lateness of the request, saying he did not receive the go-ahead until late Tuesday. He added the GO Zone bond program is set to expire at the end of the year, and nearly all of the funds created from the program have already been allocated.