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Regular Council Meeting September 26, 2016 Page 2 6. Receive reports and/or minutes from the following boards, commissions, and committees: a. Airport Advisory Board (6 -16 -2016) b. Historic Preservation Commission (8 -10 -2016) c. Paris -Lamar County Board of Health (7 -18 -2016) d. Main Street Advisory Board (8 -9 -2016) e. Paris Economic Development Corporation (8 -16 -2016 & 8 -23 -2016) 7. Receive August monthly financial report. 8. Receive August drainage report. 9. Receive demolition and code enforcement activity reports. 10. Appoint one member to the Main Street Advisory Board to fill a vacancy. 11. Appoint one member to the Historic Preservation Commission to fill a vacancy. 12. Approve a Letter of Agreement between the City of Paris and Oncor Electric to continue to operate under the terms of the current Franchise Agreement between the parties. Regular Agenda 13. Receive and discuss update from PEDC on the spec building located at 2305 NW Loop 286 (formerly known as the Oliver Rubber Building). PEDC Executive Director Michael Paris, Vice - Chairman John Brockman, and Board Member Derrick Hughes gave an update to City Council on the spec building and a proposal, which included expenses thus far and estimated future expenses of $776,300 to have a shell building constructed. Mr. Paris told the Council the Board had discussed two conditions related to this building and wanted to relay those to Council, which were the spec building could not be leased without the approval of the City Council and the spec building could not be sold without the approval of the City Council. He said he wanted to discuss the proposal before presenting it for a vote, so that the PEDC Board could address any concerns of the City Council. Board Member Hughes added that at the conference they recently attended in Houston, spec buildings were highly recommended and without one they could lose potential clients. Council Member Drake inquired if the conditions would carry onto the next Council when the Council changes. City Attorney Stephanie Harris said if they approved it with conditions, the conditions would be attached and does carry over to the next Council. Council Member Frierson said he appreciated the dialog going back and forth and asked Mr. Paris and the Board Members to carry the Council through the steps PEDC went through thus far. Mr. Brockman explained the steps which included competiveness, that they could build below the market, and would not lose money if even if the building was not leased for five years. Mr.