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TEXAS <br />P_ R I S <br />Economic Development Cotpomtion <br />MEMORANDUM <br />TO: Paris, Texas City Council <br />FROM: Paris Economic Development Council j <br />Michael Paris, Executive Direc <br />DATE: September 21, 2016 <br />RE: Suggested Conditions and Project Finance for Discussion During City Council <br />September 26, 2016 <br />Two conditions for discussion: <br />A) The spec building cannot be leased without the approval of the Paris City Council <br />B) The spec building cannot be sold without the approval of the Paris City Council <br />PEDC will likely seek the approval of the following expenses from City Council: <br />Bid: $738,380 <br />Construction Contingency: $ 25,000 <br />Bid Bond $ 10,880 <br />Builder's Risk Insurance 2,040 <br />Total Request: $776,300 <br />1125 Bonham Street • Paris, Texas 75460 •903.784.6964 • Fax 903.784.2503 opayisedc@,paristexasusa.com <br />wivw.earistexasusa.com • tivww.facebook.com /par-istexasusa •twitter: @paristexasusa <br />