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PEDC Meeting <br />November 20, 2002 <br />Page 5 <br /> <br />creation of jobs. He said this is for any business in the city of Paris that needs <br />financial help to add employees. Mr. Haynes said that this is a loan with a 4% <br />interest rate and the business would have to repay the loan back to the City of Paris, <br />and after the loan is paid back, the funds can be loaned again. Mr. Haynes said they <br />can also tie in with banks. He said they did send out notices to a couple of banks <br />trying to create interest from that standpoint. If you are a principle or owner in the <br />business you do not count as one of the created jobs. If you own 20% or more of the <br />business you cannot be counted. There have been several calls but most of them did <br />not qualify. He said they have sent notices to a couple bands trying to create interest. <br />There have also been two notices of availability placed in the newspaper. <br /> <br />Since he and Mr. Vest talked there have been a couple of prospects; one looks good. <br /> <br />Resolution No. 2002-007, accepting a revised proposal from Graeber, Simons, & <br />Cowan for Professional Architectural Services related to the Master Planning and <br />Design of a Business Park in Paris; authorizing a professional service contract in <br />accordance with said revised proposal, was presented. <br /> <br />City Attorney Schenk advised the Board that Mr. Shackelford with Graeber, Simons <br />& Cowan has resolved two of the three issues that he was concerned with. The third <br />one is the clause that has to do with liability. He said that basically what the original <br />language said was "notwithstanding any other provision of this agreement, Graeber, <br />Simmons & Cowan will not be liable for incidental, indirect, special or consequential <br />damages or for lost profits, savings or revenues of any kind, regardless of whether <br />Graeber, Simmons & Cowan has been advised of the possibility of such damages". <br />City Attorney Schenk said to him that is a very sweeping release of liability. He said <br />that he asked Mr. Shackerlford about that, but first he wanted to make sure that this <br />limitation applied only to PEDC and not the world and he agreed to something that <br />would address that. City Attorney Schenk said he wanted to make sure that it was not <br />construed in any way to diminish their professional responsibility in the terms of the <br />scope of work that they do. City Attorney Schenk said that Mr. Shackerlford has <br />something that he had sent to him and he has accepted and felt this would resolve this <br /> <br /> <br />