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Paris Ecanomic Development Corporation <br />Meeting Minutes <br />January 12, 2011 <br />Board Members <br />Present: Pike Burkhart, Sr. <br />Doug W ehrman <br />Chad Brown <br />Dan Smith <br />Rick Poston <br />Ex-officio Members <br />Present: Mindy Moree <br />Gene Anderson <br />Pam Anglin <br />Lagal <br />Counsel: Kent McIlyar <br />Staff Steve Gilbert <br />Present: Shannon Barrentine <br />Guest(s) <br />Present; <br />Connie Beard, The Paris News <br />Rickey Hayes, Retail Attraciions <br />Tom Hensel, CPA <br />McClanahan & Holmes <br />Laurie 0'Neal <br />(:rovernor's C3ffice <br />James Brockway <br />City Council <br />Liaison(s): <br />Edwin Pickle <br />Pike Burkhart, called the meering to order at 9:05 a.m. Pike welcomed those present. <br />Minutes from the December 14, 2010 were approved, as submitted, by a motion from Dan Smith; <br />seconded by Doug Wehrman. Motion carried. <br />Financial reports for December, 2010 were approved, as submitted, by a rnotion from Chad <br />Brown; seeonded by Rick Poston. Motion carried. <br />Regarding the Preliminary Draft of the audit for Fiscal Year Ended September 30, 2010, <br />Mr. Ton Hensel, CPA af McClanahan & Holmes, stated that for the most part PEDC's funds were the <br />same as last Fiscal Year. A few changes were: Renegotiated Reiiind Bonds for Paris Packaging, <br />Lease/Agreement with Chamber of Commerce, and revenue fund balance had increased about $100,000 <br />over last year. Income stayed level and spent less allawi,ng for more dollars to be available for future <br />projects. The audit is performed in assaciation with the City of Paris', normal pracesses, additional <br />governance letter wi11 be included in the final copy of the audit. No action was taken. <br />Rickey Hayes, Retail A.ttractions presented the Market Assessment far the Paris, Texas area. Mr. <br />Hayes reported tliat the PEDC Board is "casting a visian" far retail deveIopment to improve the quality of <br />life in this Micro-politan Area of about 190,000 in the shopping/trade area of northeast Texas and <br />southeastern Oklahoma. He pravided the board with a copy of the Market Study. He also stated that he has <br />developed some Iong term relarionships with retailers who have expressed an interest in Iocating in Paris, <br />Texas. He would appreciate the baard extending his service contract for another 12 znonths. A motion <br />was made by Dan Smith to approve the contract with Retail Attractians for the year 2011; seconded by <br />Doug Wehrman. Motion carried. <br />The Board eonvened into executive session at 10:10 tt.m. pursuant to Section 551.087 and Section <br />551.072 oi'the Texas Government Cade to discuss and deliberate an the following: <br />A. Section 551.087 - Economic Development Negotiations <br />- 15 <br />