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PEDC Roard Meeting Minutes October 201, 2017 Page 3 of 5 gives them a 20% extra capacity if they went to seven days a week, Mr. Hamill asked about the shelf life of fresher products and if that will increase the volume to retailers. Mr. Dunson said the Plum line has a shelf life of ten to twelve months, where canned soup has a shelf life of two years, Mr. Banks asked the number of employees that work at the Paris plant. Mr. Dunson replied that currently there are seven hundred and seventy employees. Mr. Banks spoke about the Single Serve Beverage agreement and whether it would out 41 jobs. He also questioned if they were defaulting on the agreement and if they were asking forgiveness on the agreement. And he went on to question if Campbell's was requesting $400,000 for the Plum line and how that amount was derived, Mr. Dunson stated that it was the capital support to purchase the equipment and the PEDC capabilities. Mr. Banks replied with, another question; was keeping the amount at $400,000 or less so that the City Council would not need to approve. Mr. Dunson answered that it was not. Mr. Hughes asked if this, was a net increase of eight to nine employees. Mr. Paris explained that amending the Single Serve Beverage Line agreement is the first item that needs to be done. Item #6 is to terminate the Single Serve Beverage Line agreement. Ms. Harris stated that on Itern #5, the arnended Single Serve Beverage Line agreement, the job number of fifty needs to be forty-one so that Campbell's is not in default. Item #6 is terminating the Single Serve Beverage Line agreement. Item #7 would be moving forward with Plum. Mr. Banks questioned the Single Serve Beverage Line amendment saying that since the contract was for $500,000 would it also need to be approved by City Council, Ms. Harris said that bringing it to City Council might be the best course of action. Mr. Hughes asked about the fifth year of the agreement and whether that needed to be amended. Ms. Harris answered that it would not need to be amended since the agreement was being terminated. Mr. Manning wanted everyone to know what a good corporate neighbor Campbell's Soup is to Paris. Mr. Banks made a motion to approve the amendment to, the Single Serve Beverage Line agreement with the approval of City Council, Mr. Hughes seconded the motion, Vote was 5 -ayes to 0 - nays. Discuss and possibl3: approve to terminate Campbell's Soup Sin le Serve Beverage (SSB) Line incentive agreement. Mr. Banks made a motion to, approve to terminate the Single Serve Beverage Line agreement with the approval of City Council. Mr. Hughes seconded the motion. Vote was 5 -ayes to 0 -nays. Discuss and possibly approve a $400,000 forgivable loan tied to employment levels to -Campbell s Soup new Plum Organics Line. Ms. Harris commented on the working draft for the Plum Line, stating that this was to retain jobs and possibly add jobs. Mr. Hughes asked about the timeline for keeping the jobs. Mr. Dunson answered that some might be off the line for six to seven months. Mr. Banks asked when the $400,000 will be paid. Mr. Paris said it could be in a few weeks, Mr. Banks made a motion to approve the $400,000 forgivable loan tied to employment levels to Campbell's Soup new Plum Organics Line with the approval of City Council since it is at the very top of what the PEDC can approve. Mr, Manning asked for a second on the motion and no one seconded it, Mr. Manning made a motion to approve the $400,000 forgivable loan tied to employment levels to Campbell's Soup new Plum Organics Line, Mr. Hughes, seconded the motion. Vote was 4 -ayes to 1 -nays. Mr, Banks was the nay vote.