07/28/2011 MINUTESPike Burkhart, called the meeting to order at 3:10 p.m. Pike welcomed those present. Pike
recognized The Paris News reporter /representative, Connie Beard; eParisTexas.com
reporter /representative, Charles Richards and Paris City Council member, John Wright.
Recognized service of former Board member, Chad Brown.
Janice Ellis, City Clerk, swore in the new PEDC Board members: Bruce Carr & Kenny Dority.
Minutes from June 7, 2011, Special Called meeting and June 14, 2011 Regular Board meeting
were reviewed. The Minutes were approved, as submitted, by a motion from Rick Poston; seconded by
Doug Wehrman. Motion Carried 5 -0.
Financial reports for July, 2011 were approved, as submitted, by a motion from Bruce Carr;
seconded by Doug Wehrman. Motion Carried 5 -0.
Steve Gilbert reported that the four (4) Working Groups for Regional Manufacturing Initiative had
completed the first of three meetings. The next meeting dates are August 22 & 23; September 26 & 27. He
referenced the PEDC website for additional materials, meeting notes and updates for this process. A
couple of Working Groups are in need of a person to fill the Co -Chair position: Talent Pipeline — Co-
Chair(s) Marva Joe and Entrepreneur Eco- System — Co- Chair(s) Jane Helberg (Robert Hall resigned as
Co -Chair due to a death in the family but will remain on the group). Fred Green, R3bi Director, reported a
new program: Military Veteran Entrepreneur Project. His goal is to assist a minimum of six (6) veteran
owned start-up companies in the next 12 months. This initiative will be a pilot project for the other 31
Business Incubators in the State of Texas and is also supported by the U.S. Veteran's Chamber of
Commerce. Veterans have the highest rate of unemployment, as a group, in the U.S. Other updates
included: Highway 24 Working Group; and Diversity Initiative Status.
Paris Economic Development Corporation
Meeting Minutes
July 28, 2014
Board Members
Staff
Steve Gilbert, PEDC
Present:
Pike Burkhart, Sr.
Present:
Shannon Barrentine, PEDC
Doug Wehrman
Shawn Napier, City Engineer
Rick Poston
Janice Ellis, City Clerk
Bruce Carr
Kenny Dority
Ex- officio Members
Guest(s)
Present:
Mindy Moree, Chamber President Present:
Connie Beard, The Paris News
Dr. AJ Hashmi, Mayor
Fred Green, R3bi Incubator Director
Edwin Pickle, Paris City Council
Legal
Chad Brown,
Counsel:
Kent McIlyar
Former PEDC Board Member
Charles Richards, eParisTexas.com
City Council
Kay O'Dell, Executive Director
Liaison:
John Wright
NE Tx. Workforce Solutions
Pike Burkhart, called the meeting to order at 3:10 p.m. Pike welcomed those present. Pike
recognized The Paris News reporter /representative, Connie Beard; eParisTexas.com
reporter /representative, Charles Richards and Paris City Council member, John Wright.
Recognized service of former Board member, Chad Brown.
Janice Ellis, City Clerk, swore in the new PEDC Board members: Bruce Carr & Kenny Dority.
Minutes from June 7, 2011, Special Called meeting and June 14, 2011 Regular Board meeting
were reviewed. The Minutes were approved, as submitted, by a motion from Rick Poston; seconded by
Doug Wehrman. Motion Carried 5 -0.
Financial reports for July, 2011 were approved, as submitted, by a motion from Bruce Carr;
seconded by Doug Wehrman. Motion Carried 5 -0.
Steve Gilbert reported that the four (4) Working Groups for Regional Manufacturing Initiative had
completed the first of three meetings. The next meeting dates are August 22 & 23; September 26 & 27. He
referenced the PEDC website for additional materials, meeting notes and updates for this process. A
couple of Working Groups are in need of a person to fill the Co -Chair position: Talent Pipeline — Co-
Chair(s) Marva Joe and Entrepreneur Eco- System — Co- Chair(s) Jane Helberg (Robert Hall resigned as
Co -Chair due to a death in the family but will remain on the group). Fred Green, R3bi Director, reported a
new program: Military Veteran Entrepreneur Project. His goal is to assist a minimum of six (6) veteran
owned start-up companies in the next 12 months. This initiative will be a pilot project for the other 31
Business Incubators in the State of Texas and is also supported by the U.S. Veteran's Chamber of
Commerce. Veterans have the highest rate of unemployment, as a group, in the U.S. Other updates
included: Highway 24 Working Group; and Diversity Initiative Status.
PEDC Board Meeting Minutes
July 28, 2011
Election of officers for 2011 -12. Chairman Burkhart asked for nominations to serve as PEDC
Chairman for 2011 -12. Doug Wehrman made a motion that Pike Burkhart remain as Chairman; seconded
by Rick Poston. Motion Carried 5 -0. Chairman Burkhart asked for nomination to serve as PEDC Vice -
Chairman for 2011 -12. Rick Poston made a motion to nominate Kenny Dority; seconded by Bruce Carr.
Motion Carried 5 -0. Chairman Burkhart asked for nominations to serve as PEDC Secretary /Treasurer.
Bruce Carr made a motion that Rick Poston remain as Secretary/Treasurer; seconded by Doug Wehrman.
Motion Carried 5 -0.
Discussion and possible action regarding line of credit for Paris EDC. Steve reported that all eight
(8) lending institutions had been contacted via certified mail requesting a quote for a Revolving Line of
Credit for the Paris EDC in the amount of $2 million. Of those, two declined: First Bank of Roxton and
First Federal Community Bank; and three did not respond: Peoples Bank, Guaranty Bond Bank and Bank
of America. Received quotes from Liberty National Bank: 4.25% annual interest rate subject to a
satisfactory review of PEDC's financial statements and the completion of loan documentation acceptable
to the bank; Lamar National Bank: one year fixed rate of 4% subject to due diligence and final approval
by their Board of Directors; and Capital One: one year at Prime Rate minus 1.96% resulting in a current
rate of 1.29% (attached). Steve stated that the Prime Rate had been at 3.25% for the last year and that this
line of credit was subordinate to PEDC's existing indebtedness. It was agreed that Steve pursue loan
documents from Capital One Bank. No formal action was taken at this time.
Discussion and possible action regarding the proposed Plan of Work for 2011 -12. Steve provided
those present a copy of the proposed Plan of Work for Fiscal Year 2011 -12. He would like to get the
Board to approve a Plan of Work prior to October 1 st. He highlighted various topics: PEDC Report Card
(what you measure is what you do); the Plan also includes ideas related to PEDC's efforts to interface
with, and support opportunities for improvement in the City. Due to the Board members not seeing the
proposed Plan of Work prior to the meeting, a Work Shop Session needs to take place prior to adopting it.
No formal action was taken at this time.
The Board convened into executive session at 3:55 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
Executive session ended at 6:50 p.m. The Board reconvened into open session. As a result of executive
session discussion, the Board took the following action:
Bruce Carr made a motion to authorize a sub - committee of the Paris EDC Board consisting of. Pike
Burkhart, Chairman; Kenny Dority, Vice - Chairman; Edwin Pickle, Councilman and Steve Gilbert, PEDC
Executive Director; to negotiate the terms of an incentive agreement for Project Tiger Tale, approval and
finalization of incentive agreement to be confirmed by the whole PEDC Board; seconded by Doug
Wehrman. Motion Carried 4 -0. Rick Poston had to leave the meeting prior to adjournment.
Kenny Dority made a motion to adjourn at 6:51 p.m.; seconded by Doug Wehrman. Motion Carried 4 -0.
Respectfully submitted,
Shannon Barrentine
Asst. Executive Director, Paris EDC
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