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07/10/2012 MINUTESParis Economic Development Corporation Meeting Minutes July 10, 2012 Board Members Staff Steve Gilbert, Paris EDC Present: Kenny Dority Present: Shannon Barrentine, Paris EDC Doug Wehrman Shannon Jones, Paris EDC Bruce Carr Bill Harris Toni Clem Ex- officio Members Guest(s) Present: John Godwin, City Manager Present: Legal Counsel: Kent McIlyar City Council Liaison: Matt Frierson Connie Beard, The Paris News Jeff Paris, eParisTexas.com Pike Burkhart, Outgoing Paris EDC Chairman Roger Caldwell, TEEX/TMAC Josh Shurbet Kenny Dority, Vice Chairman, called the meeting to order at 3:09 Steve Gilbert recognized Pike Burkhart, outgoing Board Chairman with a plaque acknowledging his service to the Paris EDC Board. Pike thanked the Paris EDC Board and Staff for all the hard work during his tenure and wished them the best of luck in the future. Kenny Dority stated that he had worked Pike on the Chamber Board and now, the past year on the Paris EDC Board, he truly believed that no one cares more about the community than Pike. Pike always did what he thought was best for the community and he really appreciated that about him. Steve Gilbert added that past Paris EDC Board Chairs don't retire they become part of TEAM Paris! Rick Poston was not able to attend the meeting. But, was given his acknowledgement of service the previous week, unceremoniously. Steve Gilbert stated that he appreciated Rick Poston's willingness, as a Board member, to do whatever we asked him to do. Rick took special interest in the Industrial Park upkeep and maintenance, and was always available for operational and financial administrative matters. Shannon Barrentine, Paris EDC, Assistant Executive Director, swore in the new PEDC Board members: Toni Clem & Bill Harris. Minutes from June 12, 2012, Regular Board meeting, June 15, 18 and 29, 2012 Called Board meetings were reviewed. Doug Wehrman stated that his motion at the June 15th meeting, pertaining to the recommendation of approving the proposed FY 2012 -13 Budget should read: "Doug Wehrman made a motion to approve the proposed budget, with an amendment to increase the amount allocated for incentive pay to Rogers -Wade from $30,000 to $60,000 for FY 2012 -13 reflecting two (2) years of incentives, and also to have Kenny Dority and Bruce Carr take a look at the Budget, come back to the Board with any recommendations to reduce the proposed FY 2012 -13 Budget to make it look better than was originally presented; seconded by Rick Poston. Motion carried 4 -1 with Kenny Dority opposing." Brice Carr, made a motion to approve the June 15th meeting Minutes, as amended; seconded by Doug Wehrman. Motion Carried 5 -0. Bruce Carr made a motion that the Minutes from the June 12, 18 and 29, 2012 be approved as submitted; seconded by Toni Clem. Motion Carried 5 -0. PEDC Board Meeting Minutes July 10, 2012 Financial report for May, 2012 was reviewed. Doug Wehrman asked to account for the increase in the monthly expense amount. Shannon Barrentine stated that she felt the increase was due to ads in The Paris News /Valley Visions, TEAM Paris trips and R3bi director's wages, per the Business Plan. Motion was made by Bruce Carr to approve the financial report, as submitted; seconded by Doug Wehrman. Motion Carried 5 -0. Steve Gilbert told those present that he would provide a summary of the Paris Diversity Initiative Final Report, Item 7(b) of the Agenda, for discussion and recommendations at the next Board meeting in August. He then referenced the Paris EDC Staff quarterly schedule for meetings and events. He stated that the majority of his updates would be included in the Executive Session portion of the meeting. Election of officers for 2012 -13. Vice - Chairman Dority asked for nominations to serve as PEDC Chairman for 2012 -13. Kenny Dority nominated Doug Wehrman to serve as Chairman. No other nominations were given. The floor was closed for nominations. Kenny Dority made a motion that Doug Wehrman be nominated to serve as Chairman; seconded by Bruce Carr. Motion Carried 5 -0. Vice - Chairman Dority asked for nominations to serve as Vice - Chairman for 2012 -13. Bruce Carr nominated Kenny Dority to serve as Vice - Chairman. No other nominations were given. The floor was closed for nominations. Bruce Carr made a motion that Kenny Dority be nominated to serve as Vice - Chairman; seconded by Doug Wehrman. Motion Carried 5 -0. Vice - Chairman Dority asked for nominations to serve as Secretary /Treasurer. Bruce Carr nominated Toni Clem to serve as Secretary /Treasurer. No other nominations were given. The floor was closed for nominations. Bruce Carr made a motion that Toni Clem be nominated to serve as Secretary /Treasurer; seconded by Doug Wehrman. Motion Carried 5 -0. At this point, Doug Wehrman, Chairman presided over the meeting. Doug thanked the Board members for their vote of confidence to have him serve as Chairman. He stated that he was looking forward to working the Business Plan, that was completed with advise from outside the community and that Paris has made its mark for "thinking outside the box" in presentations given in Austin and Washington, DC. Doug added that he is looking forward to being a part of new and exciting things for Paris in the near future. Discussion and possible action regarding a proposal for Financial Forecasting System Software Tool through Red Oak Business Planning, LLC. Steve told those present that he didn't want to get ahead of the Board members when it comes to the Financial Planning charge. Bruce Carr stated that he would like to get references /testimonials from people currently using this software and on what the company (Red oak Business Planning) offers. Not action was taken on this item. The Board convened into executive session at 3:35 p.m. pursuant to Section 551.072 and Section 551.087 of the Texas Government Code to discuss and deliberate on the following: A. Section 551.072 — Real Property B. Section 551.087 —Economic Development Negotiations Note: Kenny Dority & Matt Frierson left the meeting at 5:07 p.m. Pi PEDC Board Meeting Minutes July 10, 2012 Executive session ended at 5:12 p.m. The Board reconvened into open session. As a result of executive session discussion, the Board took the following action: Approved entering into an agreement with Texas Manufacturing Assistance Center (TMAC) and the Texas Engineering Extension Services (TEEX) of Texas A &M University not to exceed $100,000 to provide the following services and deliverables for Project Jewel. These costs will be repaid by the company as part of a 24 -month loan agreement. • Research and secure additional intellectual property associated with expressing therapeutic proteins beyond those already licensed. • Complete a comprehensive economic analysis, marketing plan and updated business plan. • Complete engineering requirements and initial design for the Paris, Texas R &D and commercial production facility. • Secure access to implement technical training curriculum from both Texas A &M and the University of California at San Diego for certificate training, 2 -Year and 4 -Year degree programs. This effort will include programs at Paris Junior College and Texas A &M - Commerce. • Develop partnership agreement with Texas A &M AgriLife Research for on -going additional research, development and product testing. 2. Directed staff to identify and negotiate funding sources for a 24 -month loan to expand animal studies designed to demonstrate the efficacy of Project Jewel's mammary amyloid A technology in an amount not to exceed $150,000. Legal counsel will draft an agreement to be brought back to the Board for final approval. The total loan agreement will not exceed $250,000, including the TMAC /TEEX funding and the R &D funding. Paris EDC staff was directed to work with the City of Paris to determine the proposed facility's zoning requirements, permitting and licensing requirements, as well as the impact on the City's wastewater system. 4. In other action after the executive committee meeting, the Paris EDC Board recommended that the staff coordinate an introduction with the owners of a local manufacturing company (Project Sparkle) to work with the Red River Region Business Incubator (R3bi) and the Paris Small Business Development Center (SBDC) to finalize a business and marketing plan for a potential expansion. The Paris EDC is very interested in the success of local small businesses and wants to provide support to companies with solid plans for expansion and new job creation. It is expected that the Board will consider financial incentives upon completion of the business and marketing plan. At that time, the name of the company will not be made public. Bruce Carr made a motion to approve the above list of items /objectives; seconded by Toni Clem. Motion Carried 4 -0. There being no further business, Bruce Carr made a motion to adjourn at 5:17 p.m.; seconded by Toni Clem. Motion Carried 4 -0. Respectfully submitted, Shannon Barrentine Asst. Executive Director, Paris EDC