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Item No. 20 <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Michael Paris, PEDC Executive Director <br />SUBJECT: South Loop Land Acquisition <br />DATE: September 19, 2018 <br />BACKGROUND: The Paris EDC Board met on September 4, 2018, and approved the purchase <br />of land on the South Loop for a New Business Park. <br />STATUS OF ISSUE: Discuss and possibly act on approving the purchase of South Loop property <br />for a New Business Park as made by the PEDC on September 4, 2018. A major portion of the <br />current PEDC Business Park is being prepared for AMERICAN Spiral/Weld. The PEDC and the <br />City will need a new business park to for future prospects. <br />BUDGET: N/A <br />RECOMMENDATION: Motion to approve the Paris Economic Development Corporation's <br />purchase of property on South Loop 286 for a New Business Park. <br />