02 City Council (08/12/02) - Laserfiche WebLink

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City Council Meeting Aug. 12. 2002 Page 2 Mr. Vest called the City Council's attention to the budget for 2002-2003 and advised that normally what they do in the budget is carry over funds that have not been expended in the current year. There are available funds in the amount of $2,094,039.00. He further explained that 50% of the revenue is for existing projects and 50% is for new industry projects but adjustments can be made throughout the year. Mr. Vest advised the City Council that Dick Severson has been sworn in and assumed his office on the PEDC Board. Jay Guest was elected President, Don Wall was elected Vice President, and Curtis Fendley was elected Secretary- Treasurer of PEDC. Mr. Vest said they have been running ads in various publications and passed around one from the Trade & Commerce Magazine, which was a Texas supplement that was done by the Texas Department of Economic Development. Mr. Vest said there was a new ad that they started running and it is called Business Development Outlook and pointed out the ad. Mr. Vest advised that their response to their ads have been slow during the summer months, and hoped that it will pick up in the fall. They will also be running an ad in the Black Real Estate Guide on a cooperative program with Oncor. Mr. Vest and Eric will be participating in a Dallas trade show with Oncor on August 26, 2002. They will be entertaining commercial realtors and talking about our community. Mr. Vest advised that he and Tommy Haynes had developed a brochure on the airport and it was ready to go to print. A copy was given to council members. Mr. Vest reported that PEDC had received a Skilled Development Fund grant from the Texas Workforce Commission for $800,000.00 for training at Kimberly-Clark and Campbell Soup. Mr. Vest stated that the grant will be a great asset for the community. He said that the people at Paris Junior College worked very hard to tap into this fund.