There hasn't been much progress. They are waiting for Bank of America's engineer to review their plans. Once that happens, I'm sure they will have comments and there will be a couple of rounds back and forth to address those comments.
Biomass has been on record with the Port of Natchitoches for quite a few months to expand on their lease. Each month a Notice of Intent is made at the meeting so that they can act on it the next month if it comes to fruition. Each month Biomass says they are waiting for the engineering review. The excerpt from last approved meeting minutes from June is below:
"In New Business regarding BioMass Power (Project "Skate"): Mr. Breedlove stated he had received correspondence from the engineer for BioMass. He also stated the engineer had received a scope of review that Bank of America's engineer will do, but is not sure whether Bank of America's engineer's review has begun. In addition, Mr. Breedlove stared he has received a revised appraisal for purposes of a lease agreement. A Notice of Intention pursuant to La. R.S. 33:4717.2 to approve a lease with BioMass Power at the next regular board meeting on July 17, 2017, was duly given."
Anyway, I review developer plans for a living and this is a cookie cutter of how most projects go. Over zealous developer thinks project approvals can be done yesterday, backlogged engineer has 10 projects ahead of his, everyone wonders why it takes so long not realizing their project isn't the only one anyone is working on . . . This my friends is the story of my life and the reason I never thought the project would meet the schedule that was being proposed. :) The good news is that I'm not seeing any indication that the project of not going to move forward. Just the typical "delays" that wouldn't be delays if a realistic schedule was used to begin with.
Phillip
