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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: I Originating Department: I Presented By: <br />9/21/2012 <br />PEDC <br />Council Date: <br />10/8/2012 <br />Steve Gilbert, Executive Director <br />RECOMMENDED MOTION: <br />Adopt/Approve Amended Paris EDC Budget for FY 2012-13 <br />POLICY ISSUE�S�: <br />Economic Development <br />BACKGROUND: <br />Agenda Item No.: <br />: <br />Additional project incentives were approved (or in the process) since the submittal of FY 2012-13 <br />Budget to the City on July 2, 2012. The line item changes are as follows: <br />Current Amended <br />Account Name Bud et $ Bud et $ Ex lanation <br />New Industry Projects $85,762 $45,000 Reduced by $40,765 that will go to Reserves <br />Existing Industry Projects $85,762 $45,000 Reduced by $40,765 that will go to Reserves <br />BODYGUARD , LLC 0 $302,717 For Incentives - From Reserves <br />Triton, LLC 0 $196,388 For Incentives - From Reserves <br />Campbeli Soup (�T�w Line) 0$1,400,000 Far Incentives — From Reserves <br />Depot Operating Funds $60,000 $45,000 Reduced by $15,000 that will go to Reserves <br />See attached for revised budget line-item expenses. <br />BOARD�COMMISSION RECOMMENDATION: <br />PARIS EDC BOARD APPROVED AMENDED BUDGET FOR FY ZO12-13 ON SEPTEMBER 13, ZOIZ. <br />EXHIBITS: <br />Resolution <br />ACTION: <br />❑ Financial Report ❑ Minute Order <br />❑ Department Report � Resolution <br />❑ Presentation ❑ Ordinance <br />❑ Public Hearing ❑ Other <br />FISCAL NOTES: <br />BUDGET INFO: <br />Expense $ <br />Budgeted Amt. $ <br />YTD Actual $ <br />Acct. Name <br />Acct. Number <br />City of Paris Revised 6/20/12 <br />43 <br />