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430 <br /> <br /> President Rhodes asked Gary Vest to give the Director's Report. Mr. Vest <br /> discussed responses received due to the advertising program, and stated that he <br /> had attended a workshop on the Texas Capital Fund which might be used in <br /> connection with the Hearne Street Project. He said that this would be very <br /> difficult and competitive to file, but he was going to start the application process <br /> in connection with the Hearne Street Project. <br /> <br /> Mr. Vest stated that the Austin Legislative Trip through the Chamber of <br /> Commerce had good representation, and they made the annual presentation to <br /> the Texas Department of Transportation on the Green Carpet Memorial Route <br /> which continues to be priority for the Chamber of Commerce and this Board. He <br /> provided copies of the information concerning highway projects in Lamar County <br /> during 1999 fiscal year that he received in meetings with Texas Department of <br /> Transportation while in Austin. Mr. Vest said that transportation is very critical <br /> to economic development in this Paris. <br /> <br /> Mr. Vest stated that Texas Department of Transportation has a meeting scheduled <br /> at Paris Junior College on March 23, 1999, at 6:00 P.M. which is a public hearing <br /> to consider the Transportation Improvement Program. He encouraged <br /> attendance at this important meeting. <br /> <br /> Mr. Vest said that he had received a copy of a letter from T.N.R.C.C. basically <br /> stating that they want to move ahead full with the Texas Clean Air Strategy as it <br /> was proposed. Mr. Vest said that he is preparing a response that he is going to <br /> send to the Texas legislators. <br /> <br /> President Rhodes stated the next item on the agenda was consideration of and <br /> action on a resolution supporting InvesTexas broad based coalition which <br /> supports the enactment of a comprehensive program of business tax credits, <br /> including an investment tax credit and a research and development credit. He <br /> asked Mr. Vest to discuss this item. Mr. Vest stated that this is a program that is <br /> being pushed by some of the larger cities in our state concerning credit for big <br /> capital investment type industries in Texas and credit for companies spending a <br /> large sum on research and development for new products. He said that there <br /> would not be any money involved in this item. <br /> <br /> City Attorney Scott Foster read the resolution. <br /> <br /> Resolution No. 99-002, supporting InvesTexas broad based coalition which <br /> supports the enactment of a comprehensive program of business tax credits, <br /> including an Investment Tax Credit and a Research and Development Credit. <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 99-002 <br /> <br /> WHEREAS, the Paris Economic Development Corporation supports the enactment of a <br /> comprehensive program of business tax credits, includiiag an Investment Tax Credit and a <br /> Reseamh and Development Credit; and, <br /> <br /> WHEREAS, for ,the long-term benefit of Texas, the state should encourage companies to <br /> invest, expand, and hire citizens; and, <br /> <br /> WI-IEREAS, the State should encourage taxpayers to make strategic capital and research <br /> and development investments in Texas, and the state tax system represents the best tool for <br /> encouraging such investment; and, <br /> <br /> <br />