05 - Boards and Commissions - Minutes

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PEDC Board Meeting Minutes May 25, 2018 Page 2 of 4 in September. Mr. Banks made a motion to approve the April financials. Mr. Hamill seconded the motion. Vote was 4 -ayes to 0 -nays. Discuss the Trends in Buildin Permits in Paris. Mr. Paris said he was presenting this to the Board because of community discussions on growth in Paris, Texas. We can see sales tax revenue increases. Property values for the City of Paris have increased slightly. Mr. Paris stated there are highlighting indicators that we can follow to show success as a community. A question to answer is "Do we have growth?" We have looked at the last five years of building permits in four different categories. The categories are: 1) Commercial Rehab or Expansion; 2) New Commercial; 3) Residential Addition; 4) New Residence. As businesses come to Paris we should see an impact in housing permits. As the five years in the four categories were being studied, we are not seeing the line go up or go down. According to the building permits, we cannot say that Paris is growing. We are going to look at the correlation between Commercial Rehab and New Commercial as it relates to Residential Addition and New Residence. This will show if the activity in Commercial the first year impacts Residential the second and third years. Mr. Banks stated that some communities keep count of the number of water meters to show growth. Mr. Paris said there are questions to be answered. What type of capital is this community attracting? We should take an academic look at this to see what could impact our growth. What do we need to grow? Housing, commercial and jobs are key to growth. We are going to look at Sulphur Springs and Reno to see how we doing. Discuss and pssibl �„a rove wtwh,e Results Com an Incentive ComNac Mr. Paris stated that in 2016 the Board approved training incentives of $50,000.00 for The Results Company. The agreement was signed late in 2017 because The Results Company had been extra busy as we were clarifying the terms of the agreement. The company has sent us the required compliance data for 2016 and 2017. The agreement states that the company maintains 343 jobs and creates another 157 jobs for a total of 500 jobs. The average wage would be $9.00 an hour. In 2016 the average number of jobs was above 580 and the wages averaged $10.33 an hour. In 2017 they hit the 500 jobs mark only in the first quarter. The next three quarters did not reach 500 jobs, but the average wage has increased to $11.04 per hour. Mr. Paris commented that it is great seeing wages steadily increase over the last two years. Mr. Paris said he was seeking the Board's advice because the overall average is around 500 jobs and the wages average $11.04 an hour. The contract with Results does not state that we should not pay if they meet this. It does say, if Results does not meet their requirements, we need to look closer. Mr. Paris recommended to the Board that we move forward with offering Results their $50,000.00. He asked for their input. Mr. Hernandez said the spending power the Results employees bring to the City of Paris is substantial. He is in favor of keeping the incentive because the wages have increased significantly. Mr. Manning questioned if this would set a precedent. Ms. Harris suggested that an addendum be done to the agreement that takes into account those issues. The Board would be able to payout on the addendum. Ms. Harris will have an addendum ready for our next Board Meeting. Mr. Banks added that the number of employees over the eight quarters averaged out to 526 employees a quarter. Mr. Hamill asked if we should consider prorating based on the numbers. Ms. Harris said that she is hearing the Board's opinion is that Results has satisfied the intent of the agreement. She suggested that the agreement be modified to fit the circumstances and intent. She will add "Where As” paragraphs detailing the circumstances.