02/15/2018 Minutes - Laserfiche WebLink

Home Browse Search

t95/ .ƚğƩķ aĻĻƷźƓŭ aźƓǒƷĻƭ CĻĬƩǒğƩǤ ЊЎͲ ЋЉЊБ tğŭĻ Ћ ƚŅ Ѝ properties, Oliver Rubber and Superior Switch, we realized the Phase I studies done in 2003 were not current. GHD Services completed a new Phase I study for $5800.00, a Phase II strategy for $1900.00 and the extra fees of $91.38 were to obtain documents. Berg-Oliver is for a wetlands study of the 140 acres. The rest of the items were normal expenses. Mr. Banks asked about the TD Ameritrade amount and it was concluded that it was a retirement expense. Mr. Banks made a motion to accept the financials as presented. Mr. Hughes seconded the motion. Vote was 5-ayes to 0-nays. Discuss and possibly approve the yearly Audit Report for the 2016-2017 year as presented by Brittany Martin of McClanahan and Holmes. Ms. Brittany Martin with McClanahan and Holmes presented the PEDC yearly audit. The audit was the Balance Sheet under Accrued Liabilities. Mr. Hernandez asked if the statement was converted from a cash basis to an accrual basis. Ms. Martin answered that it was. On the Income Statement most items were very consistent except for a difference in the Personnel and the Administration accounts is due to employees becoming permanent and not contract labor. Other Financing Sources was unique this past year with the return of land from Powder Innovations; and SuRRMA return of income from the Highway 24 project. Mr. Banks asked Mr. Paris when the final payment from SuRRMA would be received. Mr. Paris said he would check on it. Mr. Banks questioned item 4 - Retail and Office Structure on page 10 under Commitments. He asked if this was Paris Lakes and Mr. Paris affirmed it was. Mr. Banks stated that this commitment expires May 31, 2018, and if Paris Lakes did not meet the requirements by then we were not under any obligation to them going forward. Mr. Paris said it was his understanding and he would examine the documents. Mr. Manning asked about the Excess Expenditures on page 6 which says that for the year ended on September 20, 2017, our Personnel expenditures exceeded the budget by $6002.00. Ms. Martin said that page 12 shows the budgeted amounts and the actual amounts. Mr. Hamill made a motion to approve the 2016-2017 Audit Report. Mr. Hernandez seconded the motion. Vote was 5-ayes to 0-nays. Discuss the Mr. Banks asked Mr. Paris if he could give a name of one or more companies that have come to Paris to look at a site as a as a result of contact at the conferences that he attended. Mr. Paris said the first contact was Paul Ghany from Columbia. He met him at FABTECH with the Oncor group. Mr. company works with KIA and other car manufacturers doing after-market components. He belongs to SEMA and knows of Bodyguard. His company is looking at assembly of components not manufacturing. Mr. Ghany will be coming back at the end of March to talk to Bodyguard and looking at space for his company. The second contact came from Select USA, his name Shrinath Sundaram from India. He has close ties to the US Consulate and India Chamber of Commerce in Houston. A group met with him about a flight school at Cox Field and a medical device component that sends vital statistics to a doctor via satellite. He is looking for a place to manufacture the component. Mr. Paris stated these were the two primary businesses that visited Paris based on his travel. Mr. Hamill left at 4:30 p.m. Mr. Hernandez commented that the first trip listed was to Germany and represents over 31% of the total Marketing budget. Hannover Messe. Mr. Hernandez asked about the type of companies that go to Hannover Messe. Mr. Paris stated the European American Investment Council has given us leads for foreign companies ready to invest in the US. The EAIC came through the Longview EDC. We do not want other