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PEDC Regular Meeting <br />June 16, 2004 <br />Page 5 <br />called their attention to Goal #4 in the Program of Work, which is to partner <br />with TxDOT to complete the Southwest Loop, which turns into two-lane just <br />past Kimberly Clark at Highway 137. He confessed that part of the hold up was <br />due to he and Don Wall not wanting to take up the railroad track. He cited the <br />property as being an outstanding site, having great loop access and good gas <br />and electric service on site and also the rail access. He explained that TxDOT <br />wanted to take out the overpass and bring the loop down to grade and take out <br />the railroad tracks. PEDC asked them not to do that. He suggested that PEDC <br />could partner with TxDOT to get this completed. Bobby Littlefield of TxDOT <br />said he liked the idea of partnering. Mr. Vest said maybe they could get <br />another overpass put in, keep the railroad tracks and have a four-lane divided <br />loop all the way back up to Highway 82. <br />Mr. Vest cited the goals for PEDC as being retention and expansion of existing <br />businesses, recruitment of new primary employers, start up businesses and <br />small business development and infrastructure and training. <br />He mentioned PEDC had added two action items under Goal #2, one being to <br />develop advertising material for the Paris Industrial Park, and the other being <br />Erik creating a virtual tour on the PEDC website of available industrial sites. <br />He stated that Erik was working on that and it should be ready in a few months. <br />He explained that Goal #4, Infrastructure, included the work on the Southwest <br />Loop and Phase II of the Industrial Park. <br />Mr. Vest called PEDC's attention to the Financial Statement, where they would <br />find the current budget and the revenue statement. He estimated the PEDC's <br />cash position would be around $483,000.00 by the end of the year and for next <br />year, around $940,000. <br />He reminded them about the change in ownership of Paris Packaging this year, <br />but indicated that would not affect their payment to the PEDC as the contract <br />was made with the corporation. <br />