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Committee recommends board consider waiving penalty for Gulf Island LLC industrial tax exemption
Summary
Terrebonne Parish finance committee voted to forward a recommendation that the full school board accept a resolution allowing Gulf Island LLC’s industrial tax exemption contract 20200178-ITE to be honored without penalty after the company missed job/payroll targets in 2021–2022; staff and company representatives cited COVID, Hurricane Ida and later recovery.
The Terrebonne Parish School Board finance committee on an advisory vote on Oct. 10 moved to forward a resolution asking the full board to honor Gulf Island LLC’s industrial tax exemption contract 20200178-ITE without imposing penalties.
Cohen Guidry, speaking for Gulf Island, said the company applied for an ITEP for about $3,200,000 in 2021 and failed to meet an additional two-job and $80,000 payroll requirement in reporting years 2021–2022 after disruptions from COVID-19 and Hurricane Ida. Guidry told the committee the company filed reports with LED and later increased…
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