04-E PEDC Min 10-20-04.wpd - Laserfiche WebLink

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Paris Economic Development Corporation October 20, 2004 Page 3 President Wall informed them that he and Gary Vest had attended a meeting of the River Trade Corridor Coalition in Dallas. He said they had expanded the Corridor to include Lamar County. He said Paris would be represented through Net-Mob. He said the Coalition is wanting to use the existing corridor because it would cost too much money to move everything to another corridor. Mr. Wall said he wanted the existing corridor as is until it gets to Dallas. Then he wants it to split. He also wanted the corridor to connect into the Indian Nation Turnpike. He mentioned they were having a meeting in Paris on Monday, 5:00 to 8:00 p.m. He urged everyone to attend and show their support for this. Mr. Vest relayed a message from Tx-Dot about the meeting in Austin, that they did not want anyone to show up until after the Legislative Session and when they did show up, they should have their money in hand. President Wall said the study on Highway 271 was nearly done. He advised that Tx-Dot told him they would not fund 100%. President Wall called for a closed session at 4:30 p.m. in accordance with Sec. 551.072 and Sec. 551.087 of the Open Meetings act, to discuss the purchase, exchange, lease, or value of real property which if conducted in an open meeting would have a detrimental effect on the position of the Paris Economic Development Corporation in negotiations with a third person and to discuss possible incentives, pending negotiations, and commercial or financial information from business prospects and potential financing. A. Sale of real estate B. Incentives for We-Pack C. Incentives for T & K Machine President Wall closed the Executive Session at 5.00 p.m. and reconvened the Open Meeting. On the sale of real estate, Director Bass made a motion to authorize Gary Vest