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ISI i <br />�f �N <br />Mr. Roddy asked a question regarding whether other local Economic Development Corporations had <br />established an FTZ and if they had seen success with it. He provided Sherman and Texarkana as <br />examples. Ms. Hammond responded, noting that she had not contacted other EDCs regarding their <br />success with establishing an FTZ. She commented that she felt that contacting other EDCs would remove <br />the PEDC's competitive advantage but expressed her willingness to reach out to other EDCs for feedback <br />if necessary. <br />Dr. Hashmi asked a question regarding the potential for other locations to establish an FTZ and if that <br />would have a negative impact on Paris, referencing McKinney, Texas as an example. Ms. Hammond <br />responded, noting that other factors such as rail access and water availability would still give the Paris <br />area an advantage when submitting on projects. <br />Mr. Fendley opened the floor to additional questions regarding the establishment of a Foreign Trade <br />Zone. There were no further questions. <br />Mr. Fendley took a motion to approve Ernst and Young LLP's proposal to assist the PEDC with obtaining <br />the grant of authority and designation as a Foreign Trade Zone. Dr. Hashmi made a motion to approve. <br />Mr. Roddy seconded the motion. <br />Vote: 5 -ayes to 0 -nays <br />Convene into Executive Session: <br />Pursuant to Section 551.087 of the Texas Government Code to <br />1) discuss or deliberate regarding commercial or financial information that the governmental <br />body has received from a business prospect that the governmental body seeks to have to <br />locate, stay, or expand in or near the territory of the governmental body and with which <br />the governmental body is conducting economic development negotiations; or <br />2) to deliberate the offer of a financial or another incentive to a business prospect described <br />by Subdivision (1), to wit: <br />a) Project Blue Fire <br />b) Project Blue Fish <br />II. Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the <br />purchase, exchange, lease, or value of real property. <br />Mr. Fendley convened the Board into Executive Session at 5:50 p.m. <br />Reconvene into O en Session and Consider Action on Items Discussed in the Executive Session <br />Mr. Fendley reconvened the Board into an Open Session at 6:26 p.m. <br />Page 4 of 5 <br />