Laserfiche WebLink
PEDC Board Meeting Minutes <br />July 16, 2018 <br />Page 2 of 2 <br />mitigation of the Wetlands. The Paris Economic Development will also cover the cost of setting up the <br />property into three phases. The first Phase being the Greenfield, so we will plat it as such. We will also <br />help plat the Brownfield which will be Phase II and also; replat the Wetlands as Phase III. The Paris <br />Economic Development Corporation will pursue to do cash upfront to the project at $1.5 million. <br />$500,000.00 will come from the Paris Economic Development Corporation towards rail. We will also <br />pursue a $1,000,000.00 loan with local banks and then as the company increases its average job <br />requirement the Paris Economic Development will be responsible for $25,000.00 a job up to forty jobs <br />which would be an additional $1,000,000.00. That would be my recommendation to the Paris Economic <br />Development as we revise this and also move this forward to City Council for their Special Meeting <br />tonight." Mr. Manning made a motion based on Mr. Paris' recommendation to the Board. Mr. Hamill <br />seconded the motion. Vote was 4 -ayes to 0 -nays. <br />Ad'ourn <br />Mr. Manning made a motion to adjourn. Ms. Bills seconded the motion. Vote was 4 -ayes to 0 -nays. The <br />meeting was adjourned at 10:13 a.m. <br />Respectfully submitted, <br />Paula Brownfield <br />Administrative Assistant <br />Paris Economic Development Corporation <br />