06-Minutes from various boards, commissions, and committees

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plan have changed since it was first presented. The next board meeting will be held Tuesday, July 14 and agenda items for that meeting were presented. Mr. Kampfer reported that the Industrial Park sign has received improvements to include the addition of PEDC phone number and web address. The board reviewed the 2009-2010 budget for PEDC. The budget must be sent to the City by July 1 S` for approval; PEDC budget year begins October 1 st. Mr. Smith asked about increase in compensation amounts for the Director and two assistants. Mr. Kampfer reported that these increases, about 3%, reflect increases in FICA and unemployrnent matching costs. Mr. Smith pointed out that the budget notes reflect that 3% increase to be a cost of living raise. Mr. Kampfer advised that the notes would need to be changed to reflect the increase as only related to increase in unemployment costs and not a salary increase. The board discussed an option to alnend the budget at a later date to allow for pay increases should the city council adopt pay increases for city employees. A motion to approve the budget as amended was made by John Wright, seconded by Chad Brown. Motion passed unanimously. Amendment is as follows: Budget notes will be changed to reflect increase in compensation amounts related only to increase in unemployment costs and not a pay raise. A grant to support the PEDC incubator was presented. This grant has been applied for in cooperation with Paris Junior College. It requires a$30,000 commitment from PEDC, which will receive a 2 to 1 match if the grant is awarded, totaling $90,000 for the project. The grant is renewable and its fiscal agent will be PJC. The funds would pay for an incubator employee and supplies for the incubator. This person will be a PJC employee and will be housed at the incubator facility. The hiring of the employee would follow PJC hiring practices, but a representative, or Board member, of PEDC would be involved in the process. Operation of the incubator would be outlined in a memorandum of understanding between PEDC and PJC. Dan Smith made a motion to approve PEDC funds of $30,000 for this grant. Dick Severson seconded the motion and it passed unanimously. The Board convened into Executive Session at 5:00 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. Executive session concluded at 5:55 p.m. As a result of executive session discussion, the board authorized an incentive package for Campbell Soup of up to $100,000 for training and up to a$100,000 cash grant upon net gain and maintaining of employees above their current employment level. The action passed unanimously on a motion by Dan Smith, seconded by John Wright. There being no further business to come before the board, the meeting was adjourned at S:S8 p.m. Respectfully submitted, Rachel Schory Economic Development Speeialist M ~o0 ~,2 ~ June9,2009