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Pai•is Econamic llevelopment Corporation <br />Meeting Minutes <br />August 11, 2010 <br />Board Members Staff Steve Gilbert <br />Present: Pike Burkhart, Sr. Present: Shannon BarrEntiile <br />Rick Poston <br />Chad Brown <br />Daug Wehrman <br />Ex-officia Members Guest(s) <br />Present: Kenny Dority Fresent: None <br />Judge Supei-vi]le <br />Pam Angliri <br />Lega1 City Council <br />Counsel: Liaison(s): Edwin Packle <br />John Wright <br />Pike Burlthart, Presideait, called the meeting to arder at 12:15 p.nl. <br />Pike reiterated the fact that the board members need to read and review the existiiig Texas Main <br />Street Pragram Study i'or Paris dated September, 2009, as it pertains to economic development in many <br />areas. <br />The board convened inta executive session at 12:30 p.m. ptirsuazat to Section 551.087 of the 'I'exas <br />Government Code to discuss and deliberate on the following: <br />Section 551.097 Fennomic Developinent Nebotiations <br />Executive session eiided at 1:06 p.m. The following action was taken as a result oFexecutive <br />session: Motion was made by Doug Welirman ta approve the Carnmercial Guaranty agreement with <br />Cornmunity Bank af Texas on behalf of Paris Warelaouse Southwest a.ncl Rogers Wacie, contingent on <br />language, tenns and conditions as approved by Band Counsel, antl to autharize Pike Burkliart, PEDC <br />Board President to execule said clocuinenCs, wheti amended; seconded by Ghad Brown. Motion carried. <br />Rick Postan made t11e motion to liave Legal Caunsel prcpare an incentive agreement between <br />PEDC, Paris Warehause Southwest and Rogers V4Tade providing a cash incentive in the atnaunt of <br />$105,000 for creatiiig 35 new jobs. Agreemeiit to include complete project descrzption anci "clawback" <br />provisians as required by State law; Doug Wehrman seconded. Motion ca.rried. <br />There being no further business, Pike Burkhart declared ttle nieeting adjourned at 1:08 p.m. <br />Respectfully subniitted, <br />Shannon Barrentine <br />PEI)C - Comm. Dev. Specialist <br />1~ <br />