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266 <br /> <br /> distribution center. President Fendley called for questions concerning Mr. Vest's <br /> report and there were none. <br /> <br /> City Attorney Haynes stated that the City Council was holding a public hearing on <br /> the Enterprise Zone on Thursday, September 19, 1996, if anyone was interested <br /> in attending and thinks that someone should speak at this hearing. <br /> <br /> Boardmember Bray asked if the Board would consider having an outside consultant <br /> perform a study on the freeport exemption, etc. and the effects to the community <br /> comprised of a twenty-five mile radius. Mr. Vest said he had been in contact with <br /> a company concerning this information. Mr. Vest said there were several <br /> companies that the Board could look at when they get ready to have a study done. <br /> President Fendley asked Mr. Vest if he had enough information to bring this back <br /> to the Board in the next couple of months, and Mr. Vest agreed. <br /> <br /> President Fendley noted that the City Engineer was not present at the meeting and <br /> there was nothing to report. <br /> <br /> President Fendley asked Mr. Vest to discuss the resolution sponsoring the <br /> Northeast Texas Economic Development District Revolving Loan Fund. Mr. Vest <br /> said that they did not get funded in January when the Board had passed the <br /> previous resolution, so they had to reapply and they needed a new resolution to <br /> reapply for the Revolving Loan Fund. Mr. Vest said that all indications are that they <br /> will be funded this time. President Fendley called for questions concerning this <br /> request and there was none. <br /> <br /> City Attorney T.K. Haynes read the resolution. <br /> <br /> Resolution No. 96-011, sponsoring the Northeast Texas Economic Development <br /> District Revolving Loan Fund. , <br /> <br /> Boardmember Dick Amis made a motion, seconded by Boardmember Bray that this <br /> resolution be adopted, and the Board voted unanimously to adopt the resolution. <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 96-011 <br /> <br /> WHEREAS, the North East Texas Economic Development District includes areas which <br /> have been designated as Long Term Economically Distressed (LTED) by the Federal Economic <br /> Development Administration; and, <br /> <br /> WHEREAS, the North East Texas Economic Development District, because of such <br /> LTED designations, is eligible to apply for an Economic Development Administration Title IX <br /> Revolving Loan Fund Grant under the provisions of the Public Works and Economic <br /> Development Act of 1965, as amended; and, <br /> <br /> WHEREAS, the Revolving Loan Fund Grant in the amount of $500,000.00 would <br /> require a local match in the amount of $167,000.00; and, <br /> <br /> WHEREAS, these funds can only be used in these LTED designated areas for the <br />..... purpose of providing financing for economic development incentives; and, <br /> <br /> <br />