04-B1 PEDC Mtg Minutes - Laserfiche WebLink

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Paris Economic Development Corporation Board Meeting Minutes December 28, 2007 Board Members Staff Present: Pete Kampfer Present: John Wright Rachel Schory Chad Brown Ex Officio Members Glen Bawcum Present: Jesse Freelen Dan Smith Renee Harvey Dick Severson Dan Smith called the meeting to order at 2:08 p.m. The Board convened into executive session at 2:09 p.m. pursuant to Section 551.087 of the Texas Government Code to discuss and deliberate an offer of a financial or other incentive to a business prospect to locate, stay, or expand in Paris and consider any commercial and financial information related to the business prospect. The Executive Session was closed at 3:07 p.m. Based on discussion and considerations during the executive session, the Board approved an amended incentive agreement to retain and assist in expansion efforts of TCIM in Paris, Texas. The incentive agreement, with amendments detailed below, was passed unanimously on a motion made by Glen Bawcum seconded by Dick Severson. Amendments made to the agreement were as follows: 1) Item 3 payment breakdown will change to $100,000 paid upon execution of agreement, with $100,000 paid on each of the first, second, and third anniversaries of the agreement. 2) Also in Item 3, receipts for items purchased for the purpose of reimbursement will be accepted for the period between December 1, 2006 and September 30, 2007. This is a change from an original period begin date of January 1, 2007. 3) There will be a new Item 4 inserted after Item 3, thereby altering the remaining item numbers. This item will require verification of lease agreement for TCIM business address in Paris, Texas for duration of agreement. There being no further business to come before the board, the meeting was adjourned at 3:12 p.m. Respectfully submitted, Rachel Schory Administrative Assistant _ _ . . _ . , .