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Regular Council Meeting September 24, 2018 Page 4 City Clerk Janice Ellis explained the applicant was currently permitted and the permit would expire September 30. She also said the applicant had met all requirements for issuance of a permit. A Motion to approve this item was made by Council Member Pilgrim and seconded by Council Member Portugal. Motion carried, 6 ayes — 0 nays. 17. Discuss and act on budget amendments to Paris Economic Development's Budget FY 2017-18. EDC Director Michael Paris reviewed the budget amendments in detail with City Council, and explained these changes were necessitated by operation and personnel expenses. Council Member Knox inquired if this was a year-end housekeeping item, and Mr. Paris answered in the affirmative. Council Member Knox asked about the amount of surplus, and Mr. Paris said it was around 3.7 million dollars. A Motion to approve this item was made by Mayor Pro -Tem Hughes and seconded by Council Member Portugal. Motion carried, 6 ayes — 0 nays. 18. Discuss and possibly act on RESOLUTION NO. 2018-024: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING AND AUTHORIZING A MASTER ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE CITY OF PARIS, TEXAS, PARIS ECONOMIC DEVELOPMENT CORPORATION AND AMERICAN SPIRALWELD PIPE COMPANY, LLC; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. Michael Paris said the Paris Economic Development Corporation and the City of Paris negotiated a Master Economic Development Agreement with American SpiralWeld, which included a Performance Agreement with Paris EDC relating to a grant of land; a grant of funds; and a cash -for -jobs incentive. Mr. Paris said there was only one small change requested by Pat Hook, which was should there be a downturn in the economy that Spiral wanted employees to go from a 5 day work week to a 4 day work week. He said this would be a decrease in 40 hours a week to 32 hours a week. Mr. Paris also said if that happened, the employees would still be considered full-time and would receive benefits. Council Member Portugal asked if this would be in lieu of lay-offs, and Mr. Paris answered in the affirmative. Mr. Paris asked them to keep in mind that the company would be hiring 60 full-time employees, which was required by the master agreement. He said it was possible that SpiralWeld would also hire temps in addition to full-time employees, and that the temps would be impacted first. Council Member Stone wanted to know if they were starting with 40 hours and Mr. Paris answered in the affirmative. Council Member Knox asked Mr. Paris to community to the citizens of Paris that the company was investing 72 to 92 million dollars into the plant and plant improvements. Council Member Portugal said this was going to be benefit PISD, and Council Member Pilgrim said Spiral would also be supporting other trades in the community,