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PEDC <br />April 16, 2003 <br />Page 7 <br /> <br />Mr. Vest advised the Board that Project Holt is a prospect that he met with last <br />Friday. Erik Roddy passed out information regarding this project. Mr. Vest <br />said that this prospect came to the PEDC through the Texas Department of <br />Economic Development. The Company is called C-Tech, Inc., and is out of <br />Minnetonka, Minnesota. He said they use a company to help them do their <br />site search called ECODEV represented by Dana Olson, who was the PEDC's <br />first contact. Mr. Vest discussed a visit the past Friday with Mike Meshbesher, <br />the CEO of C-Tech. Information has been furnished to the Board showing the <br />company' s web page and the address. There were also several articles that Erik <br />placed in the packet about Mike Meshbesher and his company. There is a <br />business journal article that he received from Minnesota between cities and <br />areas where they were identified as one of the top 50 private companies in the <br />area, and C-Tech was rated as number six. It has gone from sales in 1999 of <br />4.7 million to 14.8 million in sales 2003. Mr. Vest advised that what this <br />company does is they have contracts with Dell, Hewlett Packard, and Compaq <br />and they purchase large quantities of computers and computer parts and put <br />together computer systems for corporations using these computers that they get <br />from other computer manufacturers. It is a somewhat high tech business. They <br />have been growing by leaps and bounds. <br /> <br />Mike Meshbesher lived in Plano for a number of years and that is why he was <br />looking at Texas. Mr. Vest said they looked at several cities in Texas and Paris <br />did not have a good existing facility for them, but through Erik's follow up <br />work, they were able to get in contact with them and convince them to come <br />and take a look at Paris. <br /> <br />Mr. Vest advised that there is a letter from Dana Olson that he asked the Board <br />to look at, which spells out their request and what they are looking for and he <br />summarized their request as follows: <br /> <br />A $1.5 million, 0% interest loan with a 15 year term, payable in 1/15 <br />installments each calendar year. A credit will be provided against the <br />payment due of $1 for every $10 that C-TECH has paid to all new <br /> <br /> <br />