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376 <br /> <br /> President Rhodes asked Mr. Vest to discuss the next item on the agenda. Mr. Vest stated <br /> that an offer had been received for the model building on the Northwest Loop. He said <br /> the appraisal on the building came in at $582,000.00 including the entire sixteen (16) <br /> acres. He said that this company will employ approximately 157 people. Mr. Vest stated <br /> based on the Flexible Incentive Plan we could give them $200,000.00 based on their jobs <br /> creation. He said the proposal is to sell the facility to this company for $382,000.00. He <br /> said that this will be done through a lease/purchase with all payments during the first <br /> year of operation going towards the purchase, and at the end of the first year they will <br /> pay the entire balance. After discussion by the Board, Boardmember Amis made a <br /> motion, seconded by Boardmember Bray, that the transaction be approved and <br /> authorized Mr. Vest to finalize the negotiation. The motion carried unanimously. <br /> <br /> President Rhodes stated that the next item on the agenda concerned establishing a <br /> regular monthly meeting date and time for the upcoming year. <br /> <br /> Resolution No. 98-011, establishing a regular monthly meeting date and time. <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> RESOLUTION NO. <br /> <br /> WHEREAS, in keeping with Section 5.02 of the Bylaws of the Paris Economic <br /> Development Corporation, the President is obligated to, at the beginning of his term, set the <br /> regular meeting dates and times for the upcoming year; NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION, that the monthly meetings of the Paris Economic Development Corporation <br /> be, and they are hereby, set for 4:00 o'clock p.m. on the following dates: August 12, 1998, <br /> September 16, 1998, October 14, I998, November 11, 1998, December 16, 1998, January 13, <br /> 1999, February 10, 1999, March 10, 1999. April 14, 1999, May I2, 1999, June 16. 1999, and <br /> July 21, 1999. <br /> <br /> PASSED AND ADOPTED this 22nd day of July. 1998. <br /> <br /> President <br /> <br /> ATTEST: <br /> <br /> Secretary-Treasurer <br /> <br /> APPROVED AS TO FORM: <br /> <br /> Scott P. Foster, City Attorney <br /> <br /> <br />