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RO is <br />f. E X A S <br />NSA IIA''. AEVVl•.LA';;ANAGA E N T CCAV'&Pd;AA."A'M0O <br />uAr%i (,If""" Ail, Ir%f,IL1,f JeI­r!qhei <br />Ms. Hammond continued her report by presenting financial reports ending February 28, 2025. Total <br />assets were reported to be $10,249,302. Total liabilities were reported to be $2,051,333, leaving the <br />PEDC with a total net position of $8,197,969. Ms. Hammond continued with the income statement for <br />the month, citing the reported total revenue as $248,967. She concluded the financial report for the <br />month of February by presenting total expenditures and net income for the month. <br />Ms. Hammond concluded her financial report by noting that year-to-date incentive payments had been <br />released to Universal Fabricating and Rodgers Wade. She opened the floor to questions regarding the <br />January and February financial reports. There were no questions. <br />Mr. Fendley made a motion to approve the financial statements as presented. Mr. Roddy seconded the <br />motion. <br />Vote: 5 -ayes to 0 -nays <br />Discuss and Consider Action on Strategic Planning <br />Executive Director Maureen Hammond reminded the Board of past conversations involving developing a <br />5 -to -10 -year strategic plan. She noted that over the last couple of months, that idea has gained <br />momentum. Ms. Hammond stated that during recent discussions with Council Members, Chairman Bray <br />introduced the concept of the PEDC and City holding a joint planning session. Mayor Pankaj has <br />broadened that idea and reached out to several key entities, including the PEDC, PJC, Visit Paris, and the <br />County, regarding the possibility of participating in a joint community -wide strategic plan. Ms. <br />Hammond stated that the goal would be to establish a unified framework that aligns our vision for the <br />next 5 to 10 years and highlights areas of collaboration. <br />At this point, Ms. Hammond provided examples, noting that past conversations have involved updating <br />entryway signs into Paris and the potential collaboration on infrastructure updates to the Cox Field <br />Airport. Hammond stated that while these conversations were beneficial, they often did not progress <br />beyond the point of conversation. She expressed that a strategic and implementation plan would allow <br />critical community entities to come together, identify areas of collaboration, and establish clear <br />accountability on projects. She noted that the financial commitment to develop a community -wide <br />strategic plan would include shared costs. <br />Ms. Hammond continued adding that the PEDC has already adopted a 2 -year Plan of Work outlining <br />both short-term and long-term goals. She stated that a community -wide strategy seems to be a natural <br />extension of this plan, especially since the PEDC's success is deeply intertwined with key factors outside <br />of its control such as housing, education and workforce training, quality of life initiatives, infrastructure, <br />and more. <br />Ms. Hammond concluded her report by indicated that the Mayor has suggested Summer 2025 as a <br />potential time to hold the strategic planning meeting between all entities. She opened the floor to <br />discussion regarding the strategic planning meeting. <br />Page 5 of 6 <br />