Port of South Louisiana official say they will not turn over document related to the public appraisal of the Avondale Shipyard.
Port Officials says the papers justify the price of the purchase at more than seven times what the current owner paid for Avondale just four years ago.
The Port’s attorney, Richard Pressler, said he would withhold the documents from a public records request because negotiations on the purchase were still in an active phase.
This includes the site appraisal used by the Port’s Executive Director Paul Matthews to put together the offer ultimately accepted by T. Parker Host, Inc.
In a surprise announcement January 12th, the Port Board of Commissioners voted to buy the Shipyard, now known as the Avondale Global Gateway after months of talks.
The deal was a surprise to many state leaders and other ports along the Mississippi River.
According to the Times-Picayune/New Orleans Advocate, the Port of South Louisiana plans to make job creation at the shipyard its top priority. Director Matthews also said the Port would pay for the shipyard through State Bond Commission loans.
But the price of the buy still has concerns. So much so area district State Senator Patrick Connick wants to know how the property could’ve appreciated so much in four years since buying Avondale. Port Director Matthews said Connick would know when he sees the appraisal documents.
But Connick has yet to see the papers.
"The appraisal needs to be made public if they intend to seek help from the bond commission,” Connick said in a text message to the paper.
Port spokesperson Micah Cormier says the Port and Host have a non-disclosure agreement in place. Opening up the papers to public view would uncover ‘trade secrets’ and sensitive details about the transaction.
"Port of South Louisiana’s Bond Counsel intends to submit its bond application in mid-February seeking approval at the March Bond Commission meeting," Cormier said in an emailed statement to the paper.
"At that time, the records associated with that bond application will be subject to public records law."
