06/25/2024 Minutes - Laserfiche WebLink

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ST' IE X A 5 'E wI..d11UpmI N'V' *:'.N:" nPOPA V'"ON Recognition of Former Mayor, Reginald Hughes Former Mayor Reginald Hughes was presented awards for his service to the City of Paris and support of the Paris Economic Development Corporation by Erik Simien of Congressman Pat Fallon's office and by Executive Director Maureen Hammond. Discuss and Consider Approval of the April 16, 2024, Meeting Minutes Chairman Bray presented the April 16, 2024, meeting minutes for review and discussion. Mr. Fendley made a motion to approve the minutes as presented. Mr. Coleman seconded the motion. Vote: 4 -ayes to 0 -nays Discuss and Consider Approval of the May 13, 2024, Special Meeting Minutes Chairman Bray presented the May 13, 2024, special meeting minutes for review and discussion. Mr. Fendley made a motion to approve the minutes as presented. Mr. Coleman seconded the motion. Vote: 4 -ayes to 0 -nays Discuss and Consider Approval of the April 2024 Financial Statements Secretary and Treasurer Chase Coleman presented the financial reports ending April 30, 2024. Total assets were reported to be $10,184,025. Total liabilities were reported to be $2,173,624, leaving the PEDC with a total net position of $8,010,401. Mr. Coleman continued with the income statement for the month of April, citing the reported total revenue as $183,114. Mr. Coleman proceeded by presenting total expenditures and net income for the month. He concluded this portion of the report by stating that the PEDC continues to have an exceptional year for revenue and that there were no extraordinary expenses for April. Mr. Coleman opened the floor to questions regarding the April financial report. There were no questions. Mr. Bray took a motion to approve the April financial report. Mr. Fendley made a motion to approve the financial report as presented. Mr. Roddy seconded the motion. Vote: 4 -ayes to 0 -nays Presentation by Paul Strahan on Cox Field Airport Airport Manager Paul Strahan opened his presentation on Cox Field Airport with a review of the status of the airport. He stated that the airport is projected to begin a 120 day runway construction project in early July 2024 and construction of a new fuel farm is projected to begin in fiscal year 2025. Mr. Strahan continued his presentation, stating that future visions for the airport include construction of new airfield lighting, additional taxi lanes, and additional aircraft T -hangers and private hangars. He noted that acquiring funding from TxDOT for these projects continues to be a challenge, and that the average timeline for each project is 3 to 5 years. Mr. Strahan concluded his presentation by noting future opportunities for the airport, which include a rental car service, cargo operations, updates to the aircraft repair shop, addition of an avionics shop, and a restaurant on site. Page 2 of 5