06/16/2020 Minutes - Laserfiche WebLink

Home Browse Search

PEDC Board Meeting Minutes June 16, 2020 Page 3 of 5 b. Requiring City Council approval prior to the corporation's borrowing funds or incurring any indebtedness. Mr. Hernandez stated that he agreed with receiving Council approval before taking on debt. The Board agreed and had no other comments. Dr. Hashmi made a motion to approve requiring City Council approval prior to borrowing funds and incurring debt. Mr. Pankaj seconded the motion. Vote was 5 -ayes to 0 -nays. c. Removing the provision that the City Attorney act as the legal representative of the corporation. Mr. Hernandez said that having a City Councilor on the Board is a conflict of interest, so is having the City Attorney as our attorney. Dr. Hashmi agreed to the PEDC having its own attorney. Mr. Pankaj pointed out that it is included in the new budget, if approved. Mr. Hernandez pointed out that an attorney would be put on retainer. Dr. Hashmi made a motion to approve removing the City Attorney as a legal representative of the PEDC. Ms. Bills seconded the motion. Vote was 5 -ayes to 0 -nays d. Remove the provision designating the mayor of the City of Paris as an ex officio member. Ms. Harris stated that this item did not need to be addressed, since the Board approved Item a. without including a Council member on the Board. The Mayor will continue to be an Ex Officio member. Mr. Hernandez will table this item until the bylaws amendments have gone before the City Council. Discuss andossibl a grove retaining outside council for the PEDC Contin ent on Cit . Council's a , royal of reg uested b��laws revisions. Mr. Hernandez stated that approving this item will allow him to negotiate retaining outside council. Dr. Hashmi made a motion to approve the Chairman to retain outside council for the PEDC. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. Discuss and ossibl Y a grove on oin - wro a resolution of American Suiraffeld Pirie. Mr. Stout said that we were made aware of items on the property that still needed to be removed. Since there is more information coming in he recommends the Board table this item. Mr. Hernandez told the Board a few manholes were found on the property and our attorney is looking at the master agreement. Mr. Pankaj made a motion to table this item. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. Review and discuss hirin an outside consultant to review current contracts and adherence to contracts and the economic im ,pact to communit and related olicies and procedures. Mr. Hernandez would like to have an outside consultant review our current contracts for compliance. An outside party could give us a better idea of the economic impact these contracts create. The Board agreed an outside consultant should be explored. Discuss andossibl a :rove the 2020-2021 PEDC Bud yet. Mr. Pankaj pointed out the Personnel portion of the budget is estimated at 2% more than the current year. Going on to the Administration expenses, we adding $10,000.00 to Moving Expenses for the new Executive Director. Contract Services — Legal Fees went up to $25,000.00 for retaining an attorney for the PEDC. Mr. Hernandez pointed out the Machinery and Equipment went up to $15,000.00 for the purchase of new computers and software. Mr. Pankaj showed that Telephone/Communication was increased because of the Board iPads. Marketing expense has $10,000.00 budgeted to Lamar County Days 2021, this event occurs every two years. The Total Operating Expenses went up by 10% for next year. Direct Business Incentives show new industries coming in with cash for jobs. Debt Service stays the same. New Industry Projects show our part of American SpiralWeld expenses completed. Land Development is