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PEDC Board Meeting Minutes April 21, 2020 Page 2 of 3 a If necessary, the Paris Economic Development Corporation may convene into Executive Session under Chapter 551 of the Texas Government Code regarding any item on this agenda. Discuss and possibly approve Minutes of the F'ebruary 12, 2420,_Sp_ecial Meetin; and the Tebruary 18, 2020, Monthly Meeting. Mr. Hernandez asked if there were any changes to the February 1216 or 1816 minutes. No changes were requested. Dr. Hashrrii made a motion to approve the minutes from both February meetings. Mr. Pankaj seconded the motion. Vote was 4 -ayes to 0 -nays. Ms. Bills had not joined the meeting at this time. Discuss and possibly approve February 2020 Financials. Mr. Pankaj stated that the expenses for February were $57,886.00. He pointed out that $22,000.00 of that was for New Industry Projects and $12,000.00 was for Loan Payments. Mr. Hernandez asked if the amount paid to Stone Title was to convey the property to American SprialWeld. Mr. Pankaj affirmed that is was. Mr. Hernandez asked about the $11,000.00 under Land Development. Mr. Pankaj stated this was for EST to prioritize the land clearing. Dr. Hashmi asked how much money is currently in the PEDC account. Mr. Pankaj answered $4,618,066.08. Dr. Hashmi asked how much of that amount is committed. Mr. Hernandez stated that next year we have one million committed to American and another two million to other projects being discussed in Executive Session. Dr. Hashmi made a motion to approve the February financials as presented. Ms. Bills seconded the motion. Vote was 5 -ayes to 0 -nays. Discuss and possible approve March 2020 Financials. Mr. Pankaj stated that the March expenses totaled $48,569.00_ The cash balance is $4,618,066.08. Mr. Hemandez asked Mr. Anderson how the virus is impacting sales tax. Mr. Anderson answered that the sales tax is an amount from two months prior. April sales tax is about $5,000.00 less than a year ago. Dr. Hashmi made a motion to accept the March financials as presented. Ms. Bills seconded the motion. Vote was 5 -ayes to 0 -nays. Discuss and act to provide financial support to local manufacturing (Turner Industries & Aegus Aero Machine) during the pandemic. Dr. Hashmi made a motion to move this item to the Executive Session. Mr. Pankaj seconded the motion. Vote was 5 - ayes to 0 -nays. Project Updates: • J. Skinner Bakery — Will be discussed in Executive Session. • Lionshead Specialty Wheel — All is going well with them. • American SpiralWeld Pipe Land Transfer — The transfer is complete. • American SpiralWeld Pipe Environmental — Trent with GHD said that a well was dug to test for barium in the water. There is no barium in the water and ASWP can move forward. There could be a problem with barium in the soil where the rail is being redone. Convene into Executive Session: 1) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or deliberate regarding commercial or financial information that the governmental body has received from a business prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of the governmental body and with which the governmental body is conducting economic development negotiations; or (2) to deliberate the offer of a financial or other incentive to a business prospect described by Subdivision (1), to wit: