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t95/.©7a;;·zmazÒ·; WÒ; r tm;E Discuss and possibly approve May 2016 Financials. Mr. Wilson asked if there were any questions on the financials. Mr. Banks said he did not see Mr. Paris’ health insurance listed for May. The explanation was the May insurance payment had been paid in April, so it did not show in the May financials. Mr. Turner made a motion to approve the May 2016 Financials. Mr. Brockman seconded the motion. The vote was 5 to 0. Special Recognition. Mr. Paris recognized Mr. Turner for being part of the Paris Economic Development Board for three years. He thanked Mr. Turner for his service and as a token of the Board’s appreciation presented him with a plaque engraved with the Board’s thanks. Discuss and possibly approve starting the Request for Bids process on the build-out of the property at 2305 NW Loop 286. Mr. Paris started the conversation by saying that the plans have been received for the spec building and now we can start the request of materials and labor. This will be done through the RFB process since we are a public entity. We have a few minor things to take care of with the City; this will only be to make sure we are following City Code. Mr. Wilson confirmed that this will be a shell building with no electrical and no plumbing. After the shell is complete the City will issue a permit based only on the concrete and the steel. At that point marketing of the building will be at full force. Mr. Wilson went on to say, that in answer to one of Mr. Trenado’s questions; this was the best way to get a spec building; the concrete slab, the building infrastructure, the base for the parking lot, the base for the streets are already in place. 10,000 square feet will be added to the existing slab expanding the square footage to 38,000. The ceiling height will be 28 feet; Mr. Wilson explained that the taller ceiling height is very crucial for stacking in today’s industrial buildings. Mr. Paris told the public that a lot of thought has gone into the planning and the decisions that were made for this spec building. A brand-new building at the Business Park will have a fair amount of cost to tie into existing infrastructure at the Business Park. The cost is $75-85 a square foot to build a new building. You can build a shell building for less, but you would still need to pour a concrete floor which adds to the cost. When you look at refurbishing a building you are looking at costs of $35-$55 a square foot. Mr. Paris went on to say “In trying to be good stewards of the taxpayer money, what we’re trying to do is find the best way to get a spec building up. We have found through statistics and also through site selection surveys that over half of site selector consultants would like to have a building already built and it speeds the process up.” Also, we looked at the hyper growth that is happening in the Dallas/Fort Worth area and wanted to have the quickness of getting a building up and getting it completed. Mr. Paris stated that “at the end of the day it’s about expediency, it’s about being good stewards of the taxpayer funds, and it’s about being efficient to the consultants who are looking to try and fill that space”. Mr. Trenado asked if we already had plans drawn up for the building. Mr. Wilson said we did and explained how we decided on the steel building. He also stated that the existing slab value was about $524,000 and the 10,000 square foot of slab we are adding to the building will cost about $18.00 a square foot. Mr. Wilson added the Texas Economic Development statistics showed in the last five years that 75% of the manufacturers