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792 <br /> <br />President Guest called for consideration of and action on appointing an auditor <br />to conduct the Independent Annual Audit for the fiscal year ending september <br />30, 2002. <br /> <br />After discussion, a motion was made by Director Fendley, seconded by Director <br />Wall, to utilize the services of the same accounting firm as the City selects to <br />perform the PEDC's audit for fiscal year ending September 30, 2002. The <br />motion carried unanimously. <br /> <br />Director Guest called for the Executive Director's report. <br /> <br />Gary Vest, Executive Director, reported that their inquiries from advertisement <br />have been pretty minimal and he will include those in next month's report. <br /> <br />Mr. Vest advised that they responded to one prospect from the Texas Department <br />of Economic Development, with the code name of Project Simpson. Mr. Vest <br />said this is a very large distribution facility and they had submitted a proposal, <br />but he has not received an update. He told the Board that one of the things that <br />might be detrimental to the project would be the distance from the interstate <br />highway. <br /> <br />Mr. Vest told the Board that there was another project called Project Tracy that <br />he tried to get TDED to let the Paris Economic Development Corporation to <br />submit a proposal, but Texas Department of Economic Development would not <br />let the PEDC put its package in with theirs. Mr. Vest stated that he then turned <br />it over to Dave Davidson at Oncor, and he tied to get Dave to bring them to <br />Paris, but they would not do that either. And, as it turned out, it really did not <br />matter because they chose Oklahoma. <br /> <br />Mr. Vest said that on July 24, 2002, he, Eric Roddy, Mike Malone, and Larry <br />Schenk went through the mandatory 4-A sales tax training in Tyler, Texas. Mr. <br />Vest said that he and Eric also went through a three day training course <br />sponsored by the International Economic Development Council in Dallas for <br />financial training. Mr. Vest said they looked at financial statements of <br />corporations and learned how to do the ratios, which is similar to what the <br />banking business does. They looked at how to restructure bad companies and <br />they gained a lot of information about analyzing companies financial statements. <br /> <br />Mr. Vest advised that they had a meeting with Todd Thompson with Oncor and <br />they continue to promote their available site buildings through their program. <br />They are also looking at doing a cooperative advertising section in Black's Real <br />Estate Guide, which is a real estate guide that comes out of the Dallas market. <br />Oncor is going to pay for the bulk of this advertisement. He said they had asked <br />six cities to participate from this region. Todd Thompson is our representative, <br />so they are going to do a cooperative thing, and will all have a page of ad and a <br /> <br /> <br />