09/28/2011 MINUTESParis Economic Development Corporation
Special Called Meeting Minutes
September 28, 2011
Board Members Staff Steve Gilbert
Present: Pike Burkhart, Sr. Present: Shannon Barrentine
Bruce Carr Shawn Napier, City Engineer
Kenny Dority
Doug Wehrman (via telephone)
Ex- officio Members
Present: Mindy Moree
Dr. Pam Anglin
Mayor Hashmi
Guest(s)
Present: Kregg Slakey, Bodyguard Bumpers
Kelli & Grant Mallicote,
Bodyguard Bumpers
Fred Green, R3bi. Director
Greg Wilson, eParisTexas.com
Legal City Council
Counsel: Kent McIlyar Liaison(s): Edwin Pickle
Pike Burkhart, called the meeting to order at 4:04 p.m.
The Board convened into executive session at 4:07 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 5:10 p.m. The Board reconvened into open session. As a result of
executive session discussion, the Board took the following action:
Kenny Dority made the motion to provide BodyGuard Bumpers an incentive to locate their
business in the PEDC's Northwest Industrial Park in the former C -Tech Building as follows: PEDC will
provide a $100,000 cash incentive for creating 20 new high- skilled manufacturing jobs in the City of
Paris, payable upon execution of an incentive agreement. When these 20 jobs have been created and
officially documented, the company is encouraged to request additional cash incentives for new job
creation over and above the original 20 jobs. PEDC will also provide a 20% loan guaranty of collection
for $1.45 million in project related loans. PEDC's maximum exposure under this guaranty of collection
will be limited to $290,000. PEDC's guaranty of collection shall be reduced by $100,000 per year, and
shall cease at the end of year three from the date the loans are executed and have the City Attorney and
Executive Director draft the incentive document; seconded by Bruce Carr. Motion Carried 3 -0.
There being no further business, the Board adjourned at 5:10 p.m.
Respectfully submitted,
Shannon Barrentine
Asst. Executive Director
PEDC