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EXAS <br />� O' MIC IDEVEILOPM t C � I� OR STI <br />11, f„ x at," -its Reach f rl, igf"'j er <br />Mr. Bray continued with a point of discussion involving alternative locations for the PEDC office. He <br />noted that in previous discussions with the City, City staff have mentioned the possibility of selling the <br />Depot building where the PEDC is currently headquartered. Mr. Roddy suggested the consideration of a <br />joint office with the Small Business Development Center. Discussion ensued regarding collocating <br />resources with the PEDC to support small business and entrepreneurial development. Chairman Bray <br />suggested the formation of a committee to discuss these options further following the appointment of a <br />new board member. <br />Dr. Hashmi continued with a point of discussion regarding the PEDC's status as a Type A Economic <br />Development Corporation, which primarily focuses on industrial development and infrastructure, and <br />the consideration of additionally implementing a Type B EDC, which would have a focus on quality of life <br />improvements for Paris and Lamar County. Mr. Bray commented that he was unsure if the addition of <br />Type B status would require a separate Board of Directors. Ms. Hammond clarified, stating that the <br />PEDC could function with Type A and Type B status and funding would be allocated for each division <br />independently. Mr. Bray suggested the scheduling of a joint meeting with City Council to discuss the <br />benefits of implementing a Type B EDC and options on the allocation of sales tax funding. <br />Mr. Terrell recommended that the PEDC remain targeting trailer manufacturing and food manufacturing <br />due to the existing strength and supply chains of these industries. He suggested attracting the suppliers <br />of these industries as potential targets. A discussion ensued regarding direct marketing approaches. <br />Mr. Bray opened the floor to additional comments regarding the future direction of the PEDC. Mr. <br />Roddy emphasized the importance of targeting trailer manufacturing as a viable growth opportunity for <br />Paris. Mr. Fendley suggested that the PEDC consider alternative sources for funding. Ms. Hammond <br />noted the limitations of secondary funding sources and provided the example of entering into interlocal <br />agreements as a potential source for future funding. Mr. Homer echoed Mr. Fendley's sentiment, <br />suggesting that the board pursue establishing a Type B EDC as an additional source of funding. He <br />further noted that continuing to maintain open conversation with the City of Paris could yield future <br />opportunities through the reallocation of finances. Ms. Hammond emphasized the success of the PEDC <br />during the past five years, noting the collaboration between the PEDC, City Council, Lamar County, and <br />Chamber of Commerce to be paramount in this success. Mr. Homer continued by referencing Mr. <br />Terrell's point on targeted attraction, noting that the PEDC should focus its efforts on marketing to <br />industries that manufacture in the United States. He continued by commenting on past discussions <br />involving land, noting the need for land procurement to be a priority. <br />Mr. Bray closed roundtable discussions by expressing his appreciation of the board's willingness to <br />continue conversation and commended Ms. Hammond on her continued support of economic <br />development during the last five years. <br />Discuss Future Agenda Items <br />Chairman Bray opened the floor to discuss future agenda items. No items were brought forward for <br />discussion. <br />Page 4 of 5 <br />