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Regular Council Meeting <br />June 24, 2013 <br />Page 9 <br />and it was a consensus of City Council that 35 million dollars was the amount of bonds to be <br />issued. <br />A Motion to authorize city staff to proceed with issuance of bonds in the amount of 35 <br />million dollars was made by Mayor Hashmi and seconded by Council Member Grossnickle. <br />Motion carried, 6 ayes — 0 nays. Mayor Hashmi recessed City Council at 7:36 p.m. and <br />reconvened City Council at 7:54 p.m. <br />Mayor Hashmi inquired about moving item 21 up on the agenda. It was a consensus of <br />the City Council to move item 21 up on the agenda. <br />21. Conduct a public hearing, discuss and act on RESOLUTION NO. 2013 -024: A <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS; <br />APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH <br />POTTERS INDUSTRIES, LLC; MAKING OTHER FINDINGS AND PROVISIONS <br />RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. <br />PEDC Executive Director Steve Gilbert explained Potters planned to expand and invest <br />$17,700,000 in their Paris facility by adding a glass bead production unit to their existing <br />operations. Mr. Gilbert further explained that the investment would be made over a five year <br />time frame; that Potters planned to retain the current 23 jobs; and add at least 10 positions over <br />the ten year life of the tax abatement. Company representatives Jim Hayward and Plant Manager <br />Alan Kresig gave a presentation about the new product and answered questions from City <br />Council. Council Member Wright said he was happy that the company chose to expand in Paris. <br />Council Member Lancaster inquired if they had plans to further expand. Mr. Kresig said they <br />did, but was not certain of the time period. Mayor Hashmi asked if the Council went along with <br />the full tax abatement if Potters was ready to make a commitment to further grow. Mr. Kresig <br />said they could not make that commitment at this time. Mayor Hashmi said he favored a tax <br />abatement, but did not like the ideal of a 100% tax abatement for ten years. He asked for <br />suggestions from Council. Council Member Wright said he agreed that 100% for ten years was <br />strong, but he wanted to keep Potters in Paris and keep them growing. Council Member <br />Lancaster agreed with Council Member Wright. Council Member Grossnickle said he was not <br />opposed to the current agreement. Council Member Drake said she agreed with most of what <br />had been said and suggested that regardless of the decision, that they needed to look at revising <br />the criteria and guidelines. Mr. Gilbert said this project was within the current guidelines. He <br />asked Council to engage in conversation with the County and PJC prior to amending the <br />guidelines, because it would be more beneficial when negotiating with industries to come to <br />Paris. Mayor Hashmi inquired if it was legal to grant a tax abatement for a period of 3 years at <br />100% and 80% for 2 years and pointed out he was using arbitrary numbers. Mr. McIlyar said it <br />was legal to do so. Mayor Hashmi inquired if it would delay Potters should Council postpone <br />this item until the next Council meeting. Mr. Kresig said he would really like to get an answer <br />because of competition. Mayor Hashmi asked for input from Council. It was a consensus of <br />Council to not hold up progress for Potters, and in the future review and amend the criteria and <br />