HOUMA, La. (AP) — The Parish Council is stripping the Terrebonne Parish Economic Development Authority of most of its funding sources, but the organization is expected to continue to operate.
Without opposition from community members, the council on Wednesday accepted Parish President Michel Claudet’s proposal to strip the group, known as TEDA, of occupational license fees that fueled most of its budget.
The parish’s cooperative endeavor agreement with the organization ends in February 2014.
However, TEDA still has assets of about $1 million and its board intends to continue operations.
The organization was created by the Legislature and the council does not have authority to dissolve it.