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593 <br /> <br /> receives their report, he will be making that payment, which will be sometime in <br /> March. <br /> <br /> Mr. Vest advised that the Restitution Center is a project that we are still moving <br /> ahead, but it is up to the legislature right now and they are going to have to approve <br /> of the physical mode to do the Restitution Center. He said the TDJ was going to ask <br /> for 500 bids, but they may have upped it now. <br /> <br /> President Rhodes asked W. E. Anderson, Director of Finance, to come forward and <br /> present the Annual Audit Report for the Paris Economic Development Corporation <br /> for the fiscal year ending September 30, 2000, which was prepared by McClanahan <br /> & Holmes, Certified Public Accountants. Mr. Anderson came forward giving each <br /> member an Audit Report and went over portions of the audit with the Board. Mr. <br /> Anderson pointed out the General Purpose Financial Statement and read the final <br /> paragraph, which states their opinion of the General Purpose Financial Statement <br /> referred to as the Audit. <br /> <br /> After discussion, a motion was made by Boardmember Jay Guest, seconded by <br /> Boardmember Don Wall, approving the Annual Audit Report for the Paris Economic <br /> Development Corporation for the fiscal year ending September 30, 2000 as presented. <br /> The motion carried unanimously. <br /> <br /> President Rhodes called for consideration of and action on a resolution approving and <br /> authorizing the execution of an Incentive Agreement with Agpro, Inc. <br /> <br /> Gary Vest introduced Donald Gribble, his wife and Linda Tolliver from Agpro. Mr. <br /> Vest said that Agpro was in a mode where they expect some growth over the next <br /> three years. Mr. Vest said what the incentive agreement does is call for expansion of <br /> the fiscal plant and real and personal property in the amount of $250,000.00 or more. <br /> He said we also agreed if they do this expansion ,we would pay them an incentive as <br /> listed in our Flexible Incentive Plan which is $2,000.00 per job up to 20 jobs. He said <br /> they would maintain it for the five year period of the agreement. <br /> <br />· Resolution No. 2001-001, approving the form of the Incentive Agreement with <br />Agpro, Inc. and authorizing and directing the President of the Board to execute on <br />behalf of the Paris Economic Development Corporation, the Incentive Agreement, <br />was presented by City Attorney Schenk. A motion was made by Boardmember Don <br />Wall, seconded by Boardmember Jay Guest, for approval of the resolution. The <br />motion carded unanimously. <br /> <br /> <br />