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PEDC Board Meeting Minutes April 20, 2018 Page Ћ of Ў Discuss and possibly approve February 2018 Financials and March 2018 Financials. is in the final year of their agreement. They submitted documentation showing compliance and were paid $8,000.00 promissory note and the $400,000.00 payment was made. Interest expense of $7,463.00 was paid on the bond. The Atmos Energy bill of $1,277.33 was very high for the month and we will be following up on this. We will be checking with Atmos for any leaks. Mr. Hughes mentioned that Atmos has been using an estimated billing system and we should check if that is part of reason the bill was so high. Mr. Paris went on to the Marketing & Promotion category. The Board had approved the Demographics Now purchase for $3,699.00. Mr. Banks asked why the Cash Flow page had TD Ameritrade as a payable when the Monthly Expenses worksheet shows AG Edwards as the retirement payable. Mr. Paris let the Board know that this was a mislabeling of the name under the Retirement expense on one of the PEDC spreadsheets. He asked Ms. Brownfield to change the spreadsheet. Mr. Paris told the Board that without listing the assets, we have about $3.7 million dollars in the bucket. Mr. Banks made a motion to approve the financials. Mr. Hamill seconded the motion. Vote was 4-ayes, 0-nays. Explanation and discussion regarding TD Ameritrade Payable of $425.77 as noted at the February 15, 2018, PEDC meeting. Mr. Anderson said there was an explanation in the Board packets. When we see the TD Ameritrade payable listed it is because the check is written on a Tuesday at the end of the month, while the paychecks are paid on a Friday at the beginning of the next month. The PEDC is reimbursing the City for the contribution made the month before and this shows as an adjustment in the cash flow report. Explanation and discussion of the final return payment of $148,522 to the PEDC by the Sulphur River Regional Mobility Authority. Certificate of Deposit matures December 2018. Mr. Horton gave the Board a handout with a breakdown of the entities involved and the funds used for the Highway 24 Project. The PEDC is receiving a second check from SuRRMA in May. The amount will be $149,054.07. Mr. Paris stated that TxDot recently funded $70,000,000.00 towards Highway 82 between Bonham and the Lamar County line. Mr. Horton and Mr. Paris have discussed how to enhance the TxDot scoring for Highway 82 at the Lamar County line to the Paris city limits. Discuss Paris Lakes Incentive Agreement of $250,000 towards the reimbursement of infrastructure. Mr. Banks said that the contract states all of the agreement needs to be completed by May 31, 2018, for the $250,000.00 payout to happen. Mr. Paris said there has been no communication with Paris Lakes. Discuss and possibly approve an Economic Impact Study conducted by Elizabeth Morris, CEO and Chief Economist of Insight Research. timely manner for the Board to review. Mr. Manning made a motion to table this item. Mr. Banks seconded the motion. Vote was 4-ayes, 0-nays.