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PEDC <br />April 16, 2003 <br />Page 5 <br /> <br />Business Park and discussed the development standards with the Board. Also <br />included was a memorandum from Steve Methven, Building Official for the <br />City of Paris, stating that he has reviewed the development standards of the <br />Paris Development Park as written for the PEDC and it appears that the <br />standards meet and are in compliance with the City of Paris Code of <br />Ordinances. <br /> <br />After discussion, a motion was made by Director Fendley, seconded by <br />Director Severson, for approval of the resolution. The motion carried 4 ayes, <br />0 nays. <br /> <br />President Guest called for consideration of and action on a resolution approving <br />and adopting Development Covenants for the Paris Business Park. <br /> <br />Mr. Vest explained that these covenants would govern the Industrial Park. City <br />Attorney Schenk has looked at them and has prepared a twelve page summary <br />of his suggested changes. Mr. Vest said these covenants call for a property <br />owners association. <br /> <br />Mr. Vest said that the City Attorney is leaning more towards a corporation <br />entity that would govern the Park. City Attorney schenk said that the only <br />reason that he did that was under Article 1, Definition, it states that '~the <br />Association will mean or refer to Paris Business Partners Property Owners <br />Association, Inc.". That is the reason he made reference to those issues of an <br />incorporation entity. Mr. Vest said he did not think it would make a whole lot <br />of difference either way they go. Mr. Vest said he has visited with the architect <br />who has done this for dozens of developments, and his recommendation is for <br />an association. Mr. Vest said it was the architect's recommendation to keep it <br />as simple as possible. He said that the second thing they should keep in mind <br />is for the association or the corporation to accomplish what they wanted to do. <br />Mr. Vest felt they should look through this covenant and decide what they <br />wanted to do, but for his money, all common areas are properly maintained and <br />the development standards are adhered to, and to remove PEDC as the <br /> <br /> <br />