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815 <br /> <br /> Mr, Parker advised the Board that the funding would be used to purchase <br /> gemstones, sterling silver spacers and ail the materials that he uses to make and <br /> assemble jewelry. Mr..Parker advised he has a cargo trailer that he is <br /> customizing with shelving covering three wails with individual compartments <br /> for the jewelry. <br /> <br /> Mr. Parker said he has mass-produced jewelry that he buys and distributes, but <br /> there is only a 25% to 30% mark up for this type jewelry. Mr. Parker explained <br /> that if a person manufactures the jewelry, then he can keystone it, and it is a lot <br /> more impressive. He said what this would allow them to do, eventually, is, if <br /> they develop a large wholesale business, it will allow them to go ahead and get <br /> the casting equipment and everything they need to actuaily produce things by <br /> the hundreds and thousands when it comes to sterling silver charms and that <br /> type of thing where you already have a market established for the product. Mr. <br /> Parker said it was their plan to eventuaily have several full time jobs with <br /> jewelers that can manufacture the product in Paris. <br /> <br /> The Board discussed with Mr. Parker the process of keeping his retail operation <br /> separate from his manufacturing business. Mr. Vest explained that there has <br /> been Economic Development Corporations that have done retail projects, but the <br /> intent of the legislation was never to do retail projects. He said since some <br /> corporations have done that, our representative, Mark Homer, is going to <br /> introduce legislation to remove the retail from the Economic Development <br /> Corporations. He said that is why the Paris Economic Development Corporation <br /> is being careful and making sure there is a separation and they follow the intent <br /> of the law. <br /> <br /> President Guest said the PEDC is going to have to come up with the verbiage <br /> so that the PEDC stays consistent with the charter and with other people who <br /> might want money in this community. This is something that Mr. Vest, City <br /> Attorney Sehenk and the Board will have to work through. <br /> <br /> Mr. Vest advised that he has talked with First Federal, who Mr. Parker does <br /> business with, and First Federal has financed him in the retail sector. Mr. Vest <br /> <br /> <br />