03-D PEDC Min 8-18-04 - Laserfiche WebLink

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these people next week along with the County Judge and the Mayor. If this project goes forward, it would be a$2 million initial investment and will employee twenty (20) people and have a payroll of $900,000 a year. He said it was a fairly big organization with forty (40) locations throughout the United States. Mr. Vest related that the Hearne Street Project is progressing nicely and they have poured a lot of concrete. He said what was left on the project was to pour the aprons and to move the telephone pole. He said he signed a contract to get the telephone pole removed this week. He mentioned on the Industrial Park, they were way behind schedule. He has met with the engineering firm and they are going to proceed to liquidate damages against the contractor. He said that project was supposed to be finished around June 17t'`. He said the contract said calendar days which made no provision for weather. He said the liquidated damages were $250.00 per calendar day. He did tell the engineer that they would make exception for the weather days. He mentioned that all the paperwork had been signed with TXU and they were ready to go. Executive Director Vest said they had a joint meeting with Lamar County and the City of Paris to discuss the construction of pass through tolls on Highway 271 South. He said they did make a formal request to TxDot to do a viability study and they have done what they needed to do and passed it on to the State, who has hired a consultant. President Wall said they should get a report from the State in six to eight weeks. Mr. Vest announced that everyone was invited to the NetMob meeting in Commerce on Monday. He and President Wall planned to attend the meeting. He said the Gulf Highway Association would be meeting in Pittsburg on Thursday. Director Bass asked if the PEDC had any contractual obligations they were behind on with C-Tech. Mr. Vest indicated that C-Tech has had the go ahead for two months and has awarded the construction contract to Harrison, Walker and Harper to build their plant. He indicated they needed to be out of that building by October, but that is obviously not going to happen. He said they need more room for lap top repair. President Wall called for consideration of and action on amending the Annual Budget for 2004-2005. Executive Director Vest called everyone's attention to line item's 0350 and 0351, where they took the raises out of the budget and kept the Director and his assistant's salary the same as last year, which is a$5,287.00 reduction. Resolution No. 2004-008, a resolution of the Board of Directors of the Paris Economic Development Corporation, approving an amended budget for fiscal year 2004-2005, was presented.