07/21/2020 Minutes - Laserfiche WebLink

Home Browse Search

PEDC Board Meeting Minutes July 21, 2020 Page 3 of 4 total expenses for June were $354,472.93. He went on to say that our sales tax revenue is actually ahead by $45,000.00 over last year. Dr. Hashmi made a motion to accept the June financials. Mr. Bray seconded the motion. Vote was 6 -ayes to 0 -nays. Discuss and ossibl a grove retainin outside council for the PEDC. Presentations b r the Moore Law Firm and the Patel Law Grou .. Casey Gain with the Moore Law Firm stated that their firm has done projects for the PEDC for the past 30 years. Mr. Clem has been involved in many of the PEDC real estate transactions over the last 30 years. Since 2011 when Mr. Gain started with the Moore Law Firm, he has worked on many of the PEDC incentive agreements. In 2012 he worked on the incentive agreements with J. Skinner. More recently he has been involved in our real estate transactions, Potter Industries and BodyGuard incentives, American SpiralWeld land transfer and rail spur matters. Moore Law has not been the PEDC counsel, but knows the workings of the PEDC. The firm is a full service firm with nine partners at the disposal of the PEDC. Basel Musharbash with the Patel Law Group stated that he grew up in Paris and worked at the Moore Law Firm before moving to the Patel Law Group. Mr. Musharbash stated that he would work on a strategic partnership with the PEDC. He asked the Board for their input. Dr. Hashmi asked: how would we be represented, what are your qualifications, and why do you think you should be the PEDC attorney? Mr. Musharbash said that they are a thirteen attorney firm, full service and relationship focused. The firm handles real estate and corporate transactions with much of it being commercial development and multi -family development. Economic development is a new practice for them. The firm's pricing for services: general legal services - $150.00 an hour; consulting services would be at a reduced cost; transactions like incentive agreements after the first one, could be done in a flat fee. Mr. Gain with Moore Law discussed pricing. Real estate transaction charges for closing on property would be a flat fee of about $3,500.00. The associates are $175.00 an hour and the partners are $250.00 an hour. Mr. Fendley made a motion to retain the Moore Law Firm as PEDC counsel. Ms. Bills seconded the motion. Vote was 6 -ayes to 0 -nays. Discuss and ossiblr a .grove reimbursin: Maureen Hammond new Executive Director, for one month of COBRA coverage. Mr. Pankaj said that the insurance policy states that it is the first of the next month after hire that health insurance coverage starts. Dr. Hashmi made a motion to approve reimbursing Ms. Hammond for one month of COBRA coverage. Mr. Fendley seconded the motion. Vote was 6 -ayes to 0 -nays. Discuss roblems with the PEDC/De of fire alarm s lstem. Mr. Pankaj told the Board that the fire alarm keeps going off at the Depot which includes not only the PEDC, but the Caddo Museum, the Genealogy Society and the Community Room. This could be a bigger problem if we hit the ignore button and it is a fire. He asked Mr. Path what we need to do to rectify this problem. Dr. Hashmi stated that the Depot belongs to the City and the City needs to bring it within the fire code. Mr. Bray said he would talk to the City Manager. Mr. Fendley asked about our lease with the City. Mr. Stout stated that we have looked for a contract between the City and the PEDC and have not found one. The Chamber had a contract before they left the Depot. Pro'ect U dates: American SpiralWeld Pipe — GHD has conducted all the environmental studies and is prepared to submit a revised APAR to close all the environmental agreements. Mr. Stout added that APAR is an affirmation from the TCEQ that any environmental liabilities have been taken care of. This is the State saying that your site is clean. Mr. Pankaj said that construction timelines are being met and the project is looking good.