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Port of Beaumont Board of Commissioners
by Garrett Bryce
Monday, January 27, 2014

The Port of Beaumont Board of Commissioners today voted unanimously to enter into a tax abatement agreement with OCI N.V. for property located within the OCI Reinvestment Zone.

OCI N.V. plans to build a methane production facility in the Beaumont area.  Capital investment in the project is expected to total $1.2 billion.  The port will provide a 10-year tax abatement for 100 percent of the value of improvements made in association with construction of the facility.

Jefferson County Commissioners Court approved a similar tax abatement for OCI N.V. on January 13.

The board voted to approve a renewal of port property insurance for 2014.  The policy takes effect January 31, and continues through January 31, 2015.  The total cost of the policy renewal is $483,785, and reflects a $51,000 decrease compared to the previous year, Port Director Chris Fisher said in his report on the meeting.  Listen (5:26)

The board voted to approve a tax abatement agreement with BASF Corporation for property within the BASF Corporation Reinvestment Zone.  The abatement is for a seven year term, with 100 percent of the value of improvements abated the first three years, with the abatement being reduced by 10 percent each following year.

The board voted to approve a marketing and development agreement with Port of Beaumont Petroleum Transload Terminal III, LLC for property located in Orange County.

All items were approved.  All votes were unanimous with all members present.  Agenda

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