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Port of Beaumont Board of Commissioners
by Garrett Bryce
Tuesday, February 23, 2016

The Port of Beaumont Board of Commissioners on Monday voted unanimously to authorize the issuance of $144,200,000 million in Dock and Wharf Facility Revenue Bonds related to the Jefferson Energy Company's project to expand facilities at the Orange County Terminal.

The board voted to approve review of the Policy and Procedures Manual. No changes were made to the manual.

The board voted to approve abatement agreements with ExxonMobil Oil Coporation for property in the Beaumont Polyethylene Expansion Reinvestment Zone and in the Refinery Reinvestment Zone.

The port will provide a 10-year, 100 percent abatement for improvements made as part of the polyethylene facility expansion, and a 9-year, 90 percent abatement for the refinery expansion, according to Port Director & CEO Chris Fisher.

The board voted to approve an amended and restated lease agreement with Jefferson Railport, II, LLC to include facilities to be expanded with proceeds from the bond.

The board voted to approve an amended lease agreement with Jefferson Terminal Logistics, LLC. The amendment adjusted the boundaries to remove some of the property from the lease to place in another lease to accommodate the expanded facilities.

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

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