Port Authority to request Bellisio Foods’ financial informationPublished 10:26am Thursday, October 10, 2013
The Austin Port Authority may decide to waive a financial audit stipulation in its lease of the former Austin Packaging Company plant to Bellisio Foods, Inc. — provided Bellisio give some sort of financial record to the port authority.
City Finance Director Tom Dankert asked the port authority during its meeting Wednesday to remove a clause demanding Bellisio officials provide a quarterly financial review or an equivalent review to the port authority, which the port authority previously stipulated for Austin Packaging.
Though port authority members acknowledged APC officials hadn’t always complied with the clause and city officials went to the plant once a year to review finances, authority members would like some proof of the company’s holdings before removing the clause.
“We’ve dealt with Bellisio several times, and we’ve only seen one person with a Bellisio name tag on his shirt,” port authority chairman Jerry McCarthy said.
Dankert said Bellisio officials would likely seek to remove the clause from its contract at some point, as the Austin plant is one of many Bellisio holdings. If Bellisio were to go under, “Austin would be the least of its worries,” Dankert told the port authority.
Still, port authority members held out in hopes of hearing a bit more about the company.
“We just want something from them,” McCarthy said.