07 City Council (04-12-04) - Laserfiche WebLink

Home Browse Search

Regular City Council Meeting April 12, 2004 Page 3 Mr. Vest said that Erik Roddy finished his Economic Development training last week at an Economic Development Institution three year program and Erik did it in two years. Mr. Vest advised that Paris Packaging sold and PEDC has a significant piece of financing with Paris Packaging with about three million dollars outstanding on that financing. He said the ownership change will not affect this finance package. They are still making the payments and the new owner has assumed the note and they will continue just like they have been. Mr. Vest said that the Southwest Foundry has been in the news. They are in Chapter 11, but they have called all of their people back to work and they are operating. He said they have been working with some prospect to try to get a new buyer for that company, but none of those have materialized at this point in time, but they will keep working with them. Mr. Vest said that Sara Lee is adding some production at this time. The plant in Alabama has reduced production and some of that is coming to Paris. Mr. Vest said they had also been working with Flex-O-Lite and their new Plant Manager, Walt Granger. They just went through a change in ownership and the company is spinning off of the Flex-O-Lite Division and they are working to bring their headquarters to Paris. There is potential for that and they have shown several buildings to their people and they have even talked about possibly having them build a new office building as part of the Industrial Park. ORDINANCE NO. 2004-008 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, AMENDING SECTION XIII OF ORDINANCE NO. 1315, THE SUBDIVISION REGULATION OF THE CITY OF PARIS, TO DELETE PROVISIONS PERMITTING OWNERS OR DEVELOPERS TO POST FINANCIAL SECURITY TO GUARANTEE CONSTRUCTION OF