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2001-08-22-PEDC
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2001-08-22-PEDC
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8/18/2006 4:35:47 PM
Creation date
10/22/2001 3:55:46 PM
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CITY CLERK
Doc Name
2001
Doc Type
Minutes
CITY CLERK - Date
8/22/2001
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6 6 '8 <br /> <br />__ Minutes of PEDC Regular Meeting <br /> August 22, 2001 <br /> Page 4 <br /> <br /> new equipment and expand, he said they would add anywhere from 30 to 50 <br /> new jobs. Mr. Vest requested permission to continue to negotiate with Mr. <br /> Owens for incentives within the guidelines of the flexible incentive plan. <br /> <br /> A motion was made Director Jay Guest, seconded by Director Curtis Fendley, <br /> authorizing Mr. Vest to continue negotiations with Earthgrains, get with City <br /> Attorney Schenk to draw up an agreement, and bring it back to the Board for <br /> approval. The motion carried unanimously. <br /> <br /> Under the Director's report, President Rhodes said he did receive financials <br /> from Southwest Foundry and they are in their seventh month of profitability. <br /> He felt they are in the process of trying to get recapitalized by seeking venture <br /> capital or by taking on another partner. He felt they were going to make it and <br /> be a long-term "citizen". <br /> <br /> Mr. Vest advised that since the meeting in July, response to the advertising <br /> campaign had not been fantastic. He stated that there had been only seven <br /> inquiries. During the summer months, he reported, PEDC places fewer ads. He <br /> said they were running ads in the Houston Chronicle on the Oliver Rubber <br /> Company building and that they have run ads in the Dallas Morning News and <br /> the Mercury News, which is a newspaper on the west coast, and they will <br /> continue in that effort. <br /> <br /> Mr, Vest reported on his attendance at the Northeast Economic Development <br /> Round Table meeting in Gilmer on August 15th, 2001. From July -18th through <br /> the20th, he attended the Texas Economic Development Council's summer <br /> meeting, which was in Abilene. Mr. Vest said he would like each Board <br /> Member to be a member of the Texas Economic Development Council and <br /> represent PEDC. This would mean that each director would get the newsletters <br /> so they would know what is going on with the Texas Economic Development <br />- Council. <br /> <br /> 4 <br /> <br /> <br />
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