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824 <br /> <br />Director Guest called for consideration of and action on authorizing the negotiation <br />of an economic development assistance agreement with Hydro-Conduit, a division of <br />Rinker Corporation. <br /> <br />Mr. Vest explained that Hydro-Conduit is a division of Rinker Corporation. Hydro- <br />Conduit was formerly known as Wall Concrete Pipe Company and Director Don Wall <br />was part owner of that company. He advised that Mr. Wall is still on a retainer with <br />that company, but he is not actively employed. Mr. Vest said that Hydro-Conduit had <br />a six-inch water line that feeds their box plant and the water pressure fell to 17 gallons <br />per minute, which was not enough to operate the box plant. Mr. Vest said they had to <br />close the box plant. The City Engineer went out and checked the situation and came <br />to a resolution regarding the water problem. He ran a new water main to the property <br />line and did not tie into the existing service coming from a different direction. The <br />water line that was on Hydro-Conduit's property was installed twelve years ago and <br />the city water main does not have the pressure to keep that pressurized at a level to <br />adequately run their box plant. Mr. Vest said they put in a neW eight-inch line on an <br />emergency basis from their meter to the new city main. Mr. Vest said they were <br />asking the PEDC to pay for that new eight inch water line as the City of Paris cannot <br />build that water line because it is on private property. He said they were probably <br />talking about $5,000.00. <br /> <br />After discussion, a motion was made by Director Fendley, seconded by Director <br />Severson, to authorize the funding of this project. The motion carried unanimously. <br /> <br />President Guest called for discussion of the Revolving Loan Fund for the City of Paris. <br /> <br />Tommy Haynes, Director of Community Development for the City of Paris, came <br />forward and explained that Bob Jones, consultant for the City of Paris, wrote this <br />particular grant and he was unable to attend this meeting. Mr. Haynes said he would <br />answer any questions that the Directors had. Mr. Haynes said two years ago the City <br />of Paris applied for a grant with the U. S. Department of Agricultural and Rural <br /> <br /> <br />