2001-09-12-Minutes - Laserfiche WebLink

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674 -- Paris Economic Development Corp. Sept. 12, 2001 Page 3 it was really doubtful that this type project could receive enterprise status. The company was also asking for a Direct -Interest Loan package. Mr. Vest would not recommend that PEDC enter into such an incentive. Other requests were to promote economic development in the zone and give prompt consideration to building permit request; utilization of the Waterworks and Sewer System Revenue Bonds for the purpose of improvements and the payment of professional services related to the construction and financing of such projects; increase in Police and Fire Protection for this vulnerable segment of our community; reduce utility rates on Water and Wastewater by ten (10) percent, as well as the five (5) percent rate reduction rider offered by TXU Electric and Gas, both for seven years; and provide funding for improving of existing roads to the site -- as needed. Mr. Vest told the Board that the only thing he would recommend is the tax abatement using the tax phase-in basis, which is a performance agreement, and they would not get a tax break if they do not perform. President Rhodes called for consideration of and action on a recommendation to the City Council of the City of Paris on the tax abatement application from S.I. Management, Inc. And KG Properties, LLP. No motion was made and the item died for lack of a motion. Mr. Vest reported that they have had only four leads since the last meeting. One was from Outlook Magazine, another from Area Development and two from the World Economic Development Alliance. Mr. Vest said he and Eric attended a show, which was the Northeast Equipment Manufacturers, -- as an attendees to this show, they passed out brochures, pens, and business cards. Mr. Vest explained that they will place this information into the computer and will be able to direct mail those manufacturers and continue