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<br />PEDC Minutes <br />December 7, 2005 <br />Page 2 <br /> <br />give the company a 1.5 million dollar grant paid out over 5 years. Gary brought <br />up that this will extend the PEDC but all felt this would be worth it. Rodney has <br />talked with the owners and feels that this is a good company with the leadership <br />to get this project done. Glen Bawcum asked why the company is looking at <br />Paris; Gary explained that they have close ties with Paris and that the area had <br />the resources they are looking for. Glen also asked about the quality of the jobs <br />and the time to open the doors. The jobs will be manufacturing jobs with <br />incentives and it will take about 18 months to get the company opened. Gary <br />spoke about the company's past experience with this type of company and about <br />them selling their last plant. <br />Rodney asked about the progress on C-Tech and the fact that they will have to <br />start paying back their loan in June if the incentives are not met. Gary explained <br />that C- Tech is working with WeBuild on getting their building up in the <br />industrial park and they are set to start within the next few months. The Project <br />Hurricane incentive package was approved on a motion by Rodney Bass, second <br />by Dick Severson. <br /> <br />The board considered a motion to place a PEDC ad in the up coming Lamar <br />County history book. This was approved on a motion by Glenn Bawcum, second <br />by Dick Severson. <br /> <br />The new tax abatement policy was handed out to the board for them to review <br />for next meeting. <br /> <br />There was no chairman's report or director's report. <br /> <br />With no further business to come before the Board, the meeting adjourned at 5:00 <br />p.m. with a motion by Dick Severson and a seconded by Glen Bawcum. <br /> <br />Respectfully submitted, <br />// // / / <br />/"./. / -/ I <br />~"/J1~ " i .' <br />Chad Mad ing <br />Assistant Director <br /> <br /> <br />// <br />