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Regular Council Meeting August 28, 2017 Page 7 Higdon said there were items in the current budget they needed to begin working on pretty quickly. Mayor Clifford said he just received this information and he would have liked to gotten it last week, but did not. Mayor Clifford said a Motion to table this had been made and he seconded the Motion. Council Member Drake wanted to know when he needed this budget approved and Mr. Higdon said that was up to the Council. Council Member Knox said she had read the agreement between the City and Chamber and it said they had to present their budget by August 1, along with a plan of program of work which she did not see. There being no further discussion, Mayor Clifford called for a vote. Motion carried, 4 ayes — 2 nays, with Council Members Drake and Portugal casting the dissenting votes. Mayor Clifford said he would forward the information he received to the rest of the City Council. 19. Discuss and act on Paris Economic Development Corporation's FY 2017-18 budget. PEDC Director Michael Paris said Council Member Knox had requested an itemized budget, and he presented to City Council the PEDC budget reflecting line item expenses and descriptions. Mr. Paris said Council Member Knox specifically asked about salaries, to which he explained the increase was due to the two temporary employees going to full-time. He said there were three employees, including him. Council Member Drake inquired about his retirement plan. Mr. Paris said he had a 401k, the two staff members did not have retirement, but insurance was budgeted for all three employees. Mr. Paris explained the categorizations of Depot Operations. Council Member Knox inquired about the Paris News expense and Mr. Paris said it was for a subscription to the newspaper. Mr. Paris said PEDC increased legal fees, due to the Council taking PEDC to a vote and that Ms. Harris might have a conflict of interest. Mayor Clifford disagreed with the increase of legal fees and said the city attorney should be consulted as to whether or not a conflict existed. He said he wanted that zeroed out of the current budget and the upcoming budget. Mr. Paris reviewed items under the Industrial Park, Lamar County Days and marketing for the airport. Mayor Clifford inquired if any of the money for marketing was being spent in Paris and Mr. Paris said it was not. Mayor Clifford said he would like it to be spent in more than a fifty mile radius in order to attract business and people to Paris. Mr. Paris also covered business incentives and debt service. Council Member Knox inquired about Paris Lakes, including the $250,000 set aside for infrastructure. Mr. Paris said the $250,000 was not a reoccurring expense and is still there, because Paris Lakes had five years to complete the infrastructure and they had not done so. Mr. Paris said it was to help them but they had not completed construction, which was required as part of the agreement. Mr. Paris said they were in their last year to complete it and that June 1, 2018 was the deadline. Mayor Clifford confirmed that nothing had been spent. Council Member Knox asked if this if was the construction on the Southeast Loop that was to be an upscale hospital, upscale shopping center and so forth. Mr. Paris said it was for the construction on the Southeast Loop and understood that the plans had changed three times. Council Member Knox confirmed with Mr. Paris that the incentives had not changed. Mr. Paris said it was specific to the roads that were to be built out there. Following the presentation, Mayor Clifford inquired of Mr. Paris how much money they were setting aside for the $4.7 million dollars remaining on the loan guarantee. Mr. Paris said