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PEDC Minutes <br />June 19, 2002 <br />Page 3 <br />Lewis has the listing on the building, so his name was placed on the <br />brochure as the contact person, which is the normal procedure. Mr. Vest <br />drew the Board's attention to a brochure on the Oliver Rubber building that <br />has been included in the agenda packet, and pointed out that a realtor is <br />listed on it. Mr. Vest said that anytime PEDC has a building with 10,000 <br />square feet or more, a brochure will be done. Mr. Vest said the owner of the <br />K-Mart building told him that he did not want anyone calling him. The <br />owner had listed it with a realtor, and if there were any inquiries, those <br />calling were to contact the realtor. Mr. Vest advised that the building is <br />under contract, but the contract is with a real estate investment firm. <br />Jim Bell said there were misunderstandings but many of the issues had been <br />covered before this meeting. The big issue goes further than the K-Mart <br />building. Brokers have listed property with more than 10,000 square feet, <br />such as the Foxworth building, and they did not get marketing assistance <br />from the PEDC. The brokers are not sure what type building will qualify <br />and what procedure to follow to get PEDC's assistance. Mr. Bell said the <br />brokers would like the PEDC board to formally propose parameters for <br />buildings that the PEDC would consider, as well as what procedure a broker <br />should follow to request assistance. He would like the PEDC to present <br />programs providing this information to the Paris Board of Real Estate. Mr. <br />Bell stated that both organizations are here for the purpose of moving <br />property; if the property is a building of any size, then it will be providing <br />jobs. <br />Mr. Bell said there needs to be a formal but brief agreement between the <br />Board of Realtors and the PEDC that would at least say that the Realtor is the <br />point of contact and that would keep both parties informed. Mr. Bell said <br />that a number of Realtors would like to see if there was some way to <br />include a standard flyer that states, "if you are an interested party and want <br />bi representation." Mr. Bell advised that the real estate industry has <br />changed in the last few years. Their listing agreements are contractual and <br />a Realtor has to declare one of three statuses: buyer, agent, or seller agent; <br />or they have to be an intermediator which it is very hard. He said that many <br />