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PEDC Board Meeting Minutes September 17, 2019 Page 2 of 5 Board vote against any changes to the bylaws regarding funding approval or project approval. His opinion is that the City has enough oversight. • Mr. Sims Norment, 606 Church Street, was the second citizen to come forward. His view was that the PEDC's job of bringing jobs to Paris is the most important job in city government. The City Council appoints the PEDC members, approves the PEDC budget and any expenditures above $400,000.00. His view is the Council has adequate control. • Mr. Glen Bawcum, 5366 FM 195, stated that he was strongly opposed to City Council approval of all programs and expenditures made by the PEDC. He went on to say that the City Council appoints uniquely qualified Board Members to promote economic development in Paris and Lamar County. If the City Council will require approval of all expenditures, it takes away the authority of the PEDC Board. In November of 2017, by an overwhelming majority the voters felt the quarter cent sales tax was best suited to be used by the PEDC Board. His view is that taking away this authority from the PEDC is a mistake. Mr. Bawcum asked those present to stand if they agreed with him and the prior speakers. A majority of the crowd stood in agreement. • Mr. Pike Burkhart, 524 South Church Street, stated that the PEDC has plenty of oversight from: the City Manager, the City Council, the County Judge and the City Mayor. The proposal to change the bylaws would actually smother the entrepreneurial spirit of the PEDC Board. His view is to not change the bylaws. Mr. Hernandez closed the Citizens' Input. Discuss and ossibl a grove Minutes of the August 20 2019 MonthI Meetiin . Mr. Hernandez asked for approval of the August 20, 2019, minutes. Dr. Hashmi made a motion to approve the minutes. Mr. Pankaj seconded the motion. Vote was 3 -ayes to 0 -nays. Discuss and,ossibly a , grove Au' ust 2019 Financials. Mr. Pankaj pointed out on the Cash Out sheet that Personnel expenses were higher due to one extra pay period. The Administrative expenses were all in order for the month. Under the Marketing/Airport the NBAA (National Business Aviation Association) was registration for an event and under Marketing/Video advertising was done on Facebook to boost the videos reach. Our Marketing shows that the expenses are broken down to show each expense. New Industry Projects shows Nabors Demolition for $196,400.00. Mr. Paris said that the Nabors bid was $178,000.00, but because of the additional slab they found under Oliver Rubber an addendum was added to their contract. The total expenses for August were $267,457.49. Dr. Hashmi made a motion to approve the August financials. Mr. Pankaj seconded the motion. Vote was 3 -ayes to 0 -nays. Discuss andossibl a :grove Bud yet Amendments for the 2418-2019 Bud met. Mr. Pankaj stated there were $14,000.00 in changes for the Personnel expenses, but the same amount was taken from the Administrative expenses. The changes made are budget neutral. Debt Service expenses include the SW Business Park and the American SpiralWeld loan. New Industry Projects expenses include American SpiralWeld and the SW Business Park. Both projects incurred expenses after the initial budget was completed to the 2018-2019 fiscal year. The budget amendment adds in $629,757.70 to our budget making our total budget $3,719,707.70.. Dr. Hashmi made a motion to approve the budget amendments for the 2018-2019 fiscal year. Mr. Pankaj seconded the motion. Vote was 3 -ayes to 0 -nays.