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"III <br />EC""' III �. <br />DEVELOPMENT PMIENT C"��d,; RIP"�'„�Ir�'@a�hl€�II014 <br />�.w¢�a�ui�a¢C: <br />r"1e <br />Additionally, Ms. Hammond reported that the city's installation of water lines for Gene Stallings <br />Business Park is nearing completion. She went on to note that power will be the next part of the <br />construction phase. <br />Ms. Hammond concluded her report by stating great progress has been made on both of these projects. <br />No additional questions/comments followed. <br />Convene into Executive Session: <br />1) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or deliberate regarding <br />commercial or financial information that the governmental body has received from a business <br />prospect that the governmental body seeks to have to locate, stay, or expand in or near the territory <br />of the governmental body and with which the governmental body is conducting economic <br />development negotiations; or (2) to deliberate the offer of a financial or another incentive to a <br />business prospect described by Subdivision (1), to wit: <br />a) Project Clydesdale <br />b) Project Vine to Paris <br />2) Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the purchase, <br />exchange, lease, or value of real property. <br />Chairman Bray convened the Board into Executive Session at 5:56 p.m. <br />Reconvene into Open Session and Consider Action on Item(s) Discussed in the Executive Session <br />Chairman Bray reconvened the Board into an Open Session at 6:30 p.m. and began to take action on the <br />items discussed in the executive session. <br />Mr. Fendley made the motion to extend the PEDC option agreement with Project Clydesdale as <br />discussed in the executive session. Mr. Coleman seconded the motion. <br />Vote: 5 -ayes to 0 -nays <br />Mr. Fendley made the motion to authorize Mr. Bray, Mr. Coleman, and Ms. Hammond to enter into an <br />agreement with Kincaid Mulching to clear PEDC property on the South Loop as discussed in the <br />executive session. Mr. Coleman seconded the motion. <br />Vote: 5 -ayes to 0 -nays <br />Mr. Fendley made the motion to exercise the PEDC's option on the land and building on Loop 286 and <br />authorize Mr. Bray to execute related agreements as discussed in the executive session. Mr. Coleman <br />seconded the motion. <br />Vote: 5 -ayes to 0 -nays <br />