2003-04-16-Minutes - Laserfiche WebLink

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934 business journal article that he received from Minnesota between cities and areas where they were identified as one of the top 50 private companies in the area, and C-Tech was rated as number six. It has gone from sales in 1999 of 4.7 million to 14.8 million in sales for 2003. Mr. Vest advised that what this company does is they have contracts with Dell, Hewlett Packard, and Compaq and they purchase large quantities of computers and computer parts and put together computer systems for corporations using these computers that they get from other computer manufacturers. It is a somewhat high tech business. They have been growing by leaps and bounds. Mike Meshbesher lived in Plano for a number of years and that is why he was looking at Texas. Mr. Vest said they looked at several cities in Texas and Paris did not have a good existing facility for them, but through Erik's follow up work, they were able to get in contact with them and convince them to come and take a look at Paris. Mr. Vest advised that there is a letter from Dana Olson that he asked the Board to look at, which spells out their request and what they are looking for and he summarized their request as follows: 1. A $1.5 million, 0% interest loan with a 15 year term, payable in 1/15 installments each calendar year. A credit will be provided against the payment due of $1 for every $10 that C-TECH has paid to all new employees in the Paris office. 2. Your assistance in finding a temporary location suitable for operating up to 12 months. The lease rate should not exceed $2/sq. ft.. 3. A parcel of land in the Northwest Industrial Park, sufficient to house C- TECH's expanded operation, including room for expansion, delivery and parking. C-TECH will then, on its own with a developer in Paris or one of its choosing, build a permanent facility for their operation. This will give Paris an anchor business in its new park, and the property will be owned by the corporation.