09/01/2011 MINUTES - Laserfiche WebLink

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PEDC Board Meeting Minutes September 1, 2011 • R3bi Update from Fred Green: Fred stated that he would be having a Regional Bankers Luncheon on October 3rd that would include Clarksville and Cooper; he plans to provide them with an outline of the Regional Manufacturing Initiative; he has been asked to speak about the Veterans Program that R3bi provides at the 176a' Engineering Brigade of the Texas National Guard in San Antonio on September l0a' where approximately 90% of the unit is from the Dallas Ft. Worth metroplex area; a tenant, James Wallace owner of Jazzy Frog Web Design, has been awarded the Request for Proposal to build a website for Northeast Texas Workforce Solutions Board in the amount of $24,000. • Railroad Right -of -Way Cleanup by Kiamichi with Matt Long, General Manager: Steve stated that Mayor Hashmi wants the city of Paris cleaned up and that includes all of the railroad crossings that Kiamichi Railroad has in the city. Steve has talked with Matt Long about the Mayor's concerns and Steve has offered to provide pictures of the railroad intersections that are in need of having junk removed, vegetation mowed, etc. • Meeting with State Representative George Lavender, House District 1. Steve state that he had attended a luncheon meeting that the local Republican Party had sponsored to provide an opportunity to meet Representative George Lavender in person. It was agreed that the local chambers of commerce should meet and get familiar with the needs of each community in order to prepare for the next Austin County Days in the spring of 2013. • Keystone XL Pipeline Project: Steve provided the Board with a copy of an email dated August 26, 2011 from David Dunnigan, The Harrell Group, stating that the Department of State issued its third (and Final) Environmental Impact Statement which states that there will be no significant impact on the environment. Discussion and possible action regarding line of credit for Paris EDC. Steve reported that Capital One had commissioned Attorney, A.W. Clem, to produce the official documents to approve a $2 million dollar line of credit. This line of credit at the designated interest rate would be available for one year, if not used then the Board has an option to renew it. If the funds are used, then the amount can be converted to a fixed rate /fixed term loan and the rate is negotiable. This would have to be approved by City Council. Motion was made by Kenny Dority to recommend approval of the $2 million dollar line of credit with Capital One; seconded by Doug Wehrman. Motion Carried 5 -0. The Board convened into executive session at 3:53 p.m. pursuant to Section 551.072 and Section 551.087 of the Texas Government Code to discuss and deliberate on the following: A. Section 551.072 — Real Property B. Section 551.087 — Economic Development Negotiations Note: Kenny Dority left Executive Session at 5:15 p.m. Executive session ended at 6:00 p.m. The Board reconvened into open session. As a result of executive session discussion, the Board took the following action: Doug Wehrman made a motion to accept the payoff of $1,756,701.81 from Paris Packaging for full payment of the note associated with the 2010 outstanding bonds, and authorize the Chairman to execute the agreement; seconded by Rick Poston. Motion Carried 4 -0. 2