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PEDC Board Meeting Minutes November 15, 2011 4) NE Texas Regional Investors' Network for Entrepreneurs & Innovators C) Civic Engagement & Implementation Observations (Challenges, Barriers, Recommended Actions): 1) Stretch Goals & Actions; 2) Initiative Champions & Civic Stewardship Resources; 3) Cohesive Regional Engagement vs. Small Town Challenges; 4) Inclusiveness & Advancement of All Citizens Through New Pathways to Success; 5) Hurdles to High School, Community College, Four -Year Academic Collaboration; and 6) Affect on Economic, Workforce & Related Delivery Programs through Innovation & Competitiveness. Discussion took place on a number of topics. Chairman Burkhart asked those present to consider what part of the plan (Roadmap) they would like to participate in and by Monday email Shannon Barrentine their decision. The next phase will include team building to prepare budgets, mission statements, etc. to get organize and move this initiative forward. No action was taken on this item. (Due to the consultant, Richard Seline, having to catch an outgoing flight, the Board went into Executive Session ahead of Item 5(b).) The Board convened into executive session at 4:02 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 Executive session ended at 4:56 p.m. The Board reconvened into open session. No action was taken as a result of executive session. Discussion and possible action of a Resolution of the Paris Economic Development Corporation (PEDC) in support of funding Right -of -Way acquisition and utility adjustment costs through the Sulphur River Regional Mobility Authority (SuRRMA) in the approximate present value amount of $1.5 million for upgrade and expansion to 4 -lane of State Highway 24 in Delta County, Texas. Steve Gilbert provided some background and history to this project. He provided those present with an estimated budget for the project, amortization schedule of payment and Resolution. Due to the short timeline, TxDOT was needing letters of commitment from all three (3) governing bodies in Lamar County (County Commissioners, Paris EDC and the City of Paris) to move this project forward and to apply for the loan through the State Infrastructure Bank (SIB). Doug Wehrman made the motion to approve the Resolution of fund commitment in the amount of $1.5 million; seconded by Rick Poston. Motion Carried 5 -0. The meeting date for December, 2011 will be December I P at 3:00 p.m. Kenny Dority made a motion to adjourn at 5:31 p.m.; seconded by Rick Poston. Motion Carried 5 -0. Respectfully submitted, Shannon Barrentine Asst. Executive Director Paris EDC 2