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PEDC Board Meeting Minutes November 15, 2016 Page 2 of 4 to the Board. First, Mr. Wilson pointed out the extra money spent in the payroll section. Since pay periods cannot be divided evenly throughout the year, there is more money in September's payroll to reflect the higher amount of pay covered during this period. Second, in the 5 -year Projections, there is $8,000 extra dollars in this year's budget for Potters Industries. Mr. Wilson explains that this is to fulfill our obligations to Potters for meeting the employment quota in their incentive agreement. The total was not appropriately placed in last year's budget. Finally, Mr. Wilson briefly discussed the debt service payments, explaining that they would soon be resolved. Mr. Banks motioned to approve the September financials as well as the 5 -year projections. Mr. Brockman seconded the motion, and the vote was 4 -ayes and 0 -nays. Discuss and possibly approve askiny- Bobby Smallwood Construction to maintain his bid as we market a bufld to suit site at 2305 NW Loop 286. The Board discussed the purpose of the bid, explaining that if a business was interested in starting an operation at 2305 NW Loop 286 an existing bid would allow them to move forward more quickly than they would if the Board was forced to acquire new bids. Mr. Manning asked Mrs. Harris if there were any potential problems with asking Bobby Smallwood to maintain their bid. Mrs. Harris did not see any problems. Mr. Manning asked if Mr. Trenado had any questions or concerns on the behalf of the City Council. Mr. Trenado declined to ask any questions, and stated that he thought it was a sound idea. Mr. Brockman motioned to approve asking Bobby Smallwood Construction to maintain the bid. Mr. Banks seconded the motion. The vote was 4 -ayes and 0 -nays. Executive Director's Monthly Report. Mr. Paris presented his Monthly Report, discussing each of the following topics: • TEDC Annual Conference: Mr. Paris attended this conference. At this conference, Ray Perryman stated that Texas is much more diversified since 70s, and continuing our trade with partners in China, Mexico, and Canada is key to remaining successful in the years ahead. • October 24th: Took Spec Building before City Council to get an official decision. City Council ultimately turned the request down. Mr. Paris stated that he was impressed with the support shown by the business community at the meeting, and stated that the support would be helpful as we began to promote 2305 NW Loop 286 as a build -to -suit property. • Promotion of Build -to -Suit: Mr. Paris stated that he and the staff were working with three Texas magazines to start marketing in print: Red News, which promotes Texas commercial real estate; the Dallas Business Journal; and Texas Real Estate Business