Council approves first reading of $500,000 TIF forgivable loan for bioglycols project

The county council on first reading approved ordinance 2026-13-CL, authorizing a $500,000 expenditure from Southeast Industrial TIF revenues as a forgivable loan to support the Sustainia Bioglycols project.

County staff explained the measure in short: the $500,000 would be offered as an incentive and structured as a forgivable loan tied to performance benchmarks. A staff presenter described the paperwork estimate for the project as roughly a $300 million investment and a 40,000-square-foot facility. The presenter also said the main benchmark for forgiveness would be creation of about 180 jobs that pay at least $46 per hour.

The ordinance is a coordinated package with the City of Lafayette; staff said the city is putting forward a mirror contribution. Councilman Murray moved the ordinance on first reading and Councilman Richard seconded. The council conducted a roll call and recorded unanimous support on first reading — "Ordinance 2026-13-CL passes 7–0 on first reading," the auditor reported. Council scheduled a second reading in June.

What the ordinance does and what remains: the first-reading approval authorizes the county to enter into the loan agreement and issue a note that can be drawn to pay project expenses as the company meets milestones. The second reading will be scheduled in June; council must return to finalize any loan documents and formally adopt the ordinance on second reading.

Action recorded: first reading passed 7–0; second reading set for the June meeting.