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MINUTES OF THE SPECIAL MEETING OF THE PARIS ECONOMIC <br />DEVELOPMENT CORPORATION <br /> MAY 8, 2003 <br /> <br />The Paris Economic Development Corporation met in special session on Monday, May <br />8, 2003, 2:00 P. M. at the Paris Junior College Applied Technology Building, Room 1206, <br />2400 Clarksville Street, Paris, Texas. President Jay Guest called the meeting to order <br />with the following Directors present: Curtis Fendley, Mike Dunn, and Don Wall. Also <br />present was Executive Director Gary Vest, Ex-officio Member Bobby Walters, City <br />Manager Michael E. Malone, City Attorney Larry W. Schenk, and City Clerk Mattie <br />Cunningham. <br /> <br />President Guest announced that the Board would go into executive session at 2:01 P. M. <br />In accordance with Sec. 551.086 of the Open Meetings Act, to discuss possible incentives, <br />pending negotiations, and commercial or financial information from business prospects <br />regarding the following: <br /> <br />A. Project Holt. <br /> <br />At 3:30 P. M., President Guest declared the executive session closed and the Board went <br />back into an open session. <br /> <br />President Guest called for discussion of and possible action on establishing incentives to <br />be offered to the prospect Project Holt and to be included in an incentive agreement <br />which will be prepared and presented to the Board for approval at a later date. <br /> <br />After discussion, a motion was made by Director Fendley that the PEDC offer Project <br />Holt a 1.5 million dollar loan and a 5 acre building site in the Industrial Park and <br />authorize Mr. Vest and City Attorney Schenk to continue negotiations on the contract <br />and bring back to the Board for final approval. The motion was seconded by Director <br />Dunn and carried unanimously. <br /> <br />There being no further business, the meeting was adjourned. <br /> <br />JAY GUEST, PRESIDENT <br /> <br />ATTEST: <br /> <br />MATTIE CUNNINGHAM, CITY CLERK <br /> <br /> <br />