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825 <br /> <br /> Development for a $200,000.00 economic development loan, which ties in with <br /> creation of jobs. He said this is for any business in the city of Paris that needs <br /> financial help to add employees. Mr. Haynes said that this is a loan with a 4% interest <br /> rate and the business would have to repay the loan back to the City of Paris, and after <br /> the loan is paid back, the funds can be loaned again. Mr. Haynes said they can also <br /> tie in with banks. He said they did send out notices to a couple of banks trying to <br /> create interest from that standpoint. If you are a principle or owner in the business you <br /> do not count as one of the created jobs. If you own 20% or more of the business you <br /> cannot be counted. There have been several calls but most .of them did not qualify. <br /> He said they have sent notices to a couple bands trying to create interest. There have <br /> also been two notices of availability placed in the newspaper. <br /> <br /> Since he and Mr. Vest talked there have been a couple of prospects; one looks good. <br /> <br /> Resolution No. 2002-007, accepting a revised proposal from Graeber, Simons, & <br /> Cowan for Professional Architectural Services related to the Master Planning and <br /> Design of a Business Park in Paris; authorizing a Professional service contract in <br /> accordance with said revised proposal, was presented. <br /> <br /> City Attorney Schenk advised the Board that Mr. Shackelford with Graeber, Simons <br /> & Cowan has resolved two of the three issues that he was concerned with. The third <br /> one is the clause that has to do with liability. He said that basically what the original <br /> language said was "notwithstanding any other provision of this agreement, Graeber, <br /> Simmons & Cowan will not be liable for incidental, indirect, special or consequential <br /> damages or for lost profits, savings or revenues of any kind, regardless of whether <br /> Graeber, Simmons & Cowan has been advised of the possibility of such damages". <br /> City Attorney Schenk said to him, that is a very sweeping release of liability. He said <br /> that he asked Mr. Shackerlford about that, but first he wanted to make sure that this <br /> attempted limitation of liability applied only to PEDC and not the world, and Mr. <br /> Shackelford agreed to something that would address that question. City Attorney <br /> Schenk said he wanted to make sure this clause in no way construed to in anyway <br /> diminish the consultant's responsibility in terms of the scope of work that they do. <br /> City Attorney Schenk said that Mr. Shackelford had sent him alternative language <br /> and Mr. Shackleford felt this would resolve this issue. City Attorney Schenk said <br /> what he may provide is that the consultant will not be liable to the PEDC, so we are <br /> the only ones accepting that limited liability. This is not to be construed that PEDC <br /> is indemnifying a third party. City Attorney Schenk said if the consultant is willing <br /> to accept that arrangement from the standpoint of our ability to make a claim, then he <br /> felt this clause would do what he wanted it to do. <br /> <br /> After further discussion, a motion was made .by Director Fendley, seconded by <br /> Director Dunn, for approval of the resolution. The motion carried unanimously. <br /> <br /> <br />