2003-05-08-Minutes - Laserfiche WebLink

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MINUTES OF THE SPECIAL MEETING OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION MAY 8, 2003 The Paris Economic Development Corporation met in special session on Monday, May 8, 2003, 2:00 P. M. at the Paris Junior College Applied Technology Building, Room 1206, 2400 Clarksville Street, Paris, Texas. President Jay Guest called the meeting to order with the following Directors present: Curtis Fendley, Mike Dunn, and Don Wall. Also present was Executive Director Gary Vest, Ex-officio Member Bobby Walters, City Manager Michael E. Malone, City Attorney Larry W. Schenk, and City Clerk Mattie Cunningham. President Guest announced that the Board would go into executive session at 2:01 P. M. In accordance with Sec. 551.086 of the Open Meetings Act, to discuss possible incentives, pending negotiations, and commercial or financial information from business prospects regarding the following: A. Project Holt. At 3:30 P. M., President Guest declared the executive session closed and the Board went back into an open session. President Guest called for discussion of and possible action on establishing incentives to be offered to the prospect Project Holt and to be included in an incentive agreement which will be prepared and presented to the Board for approval at a later date. After discussion, a motion was made by Director Fendley that the PEDC offer Project Holt a 1.5 million dollar loan and a 5 acre building site in the Industrial Park and authorize Mr. Vest and City Attorney Schenk to continue negotiations on the contract and bring back to the Board for final approval. The motion was seconded by Director Dunn and carried unanimously. There being no further business, the meeting adjourned. JAY GUEST, PRESIDENT ATTEST: MATTIE CUNNINGHAM, CITY CLERK