06/24/2010 MINUTESParis Economic Development Corporation
Meeting Minutes
June 24, 2010
Board Members
Present: Dan Smith
Rick Poston
Chad Brown
Pike Burkhart, Sr.
Staff Steve Gilbert
Present: Shannon Barrentine
Rachel Schory
Ex- officio Members Guest
Present: Mindy Moree Present: Connie Beard, Paris News
Kent McIlyar
Edwin Pickle
Kenny Dority
Dan Smith, President, called the meeting to order at 11:10 a.m.
Presentation, discussion and possible action of the proposed Plan of Work and Budget for Fiscal
Year 2010 -11. Steve Gilbert presented the proposed Plan of Work and Budget for Fiscal Year 2010 -11.
Steve stated that the proposed budget was based on:
• Proposed Sales Tax Revenue of $1 million.
• Current salaries reflect 52% of total operating budget vs. 24% of total revenues.
• The remaining revenues divided evenly between New and Existing Industry accounts.
• $2.1 million in liquid cash reserve for a total of $3.9 million in total assets.
• Conservative in cash reserve projections.
• Major medical insurance premiums reflects a 25% increase in the proposed budget, but the
Chamber Board approved a plan that decreased the benefits to 80 %/20% after deductible rather
than 100% after deductible resulting in a 6.8% premium reduction. Steve will adjust the proposed
budget to reflect the decrease in premiums. The difference to be split between the New & Existing
Industry revenue amounts.
• The proposed budget reflects a 3% cost of living increase for the two administrative assistants, not
one for himself. He stated that he was sensitive to the City's budget shortfall and the responsibility
to the tax payers. Dan Smith stated that just because an item is budgeted doesn't mean you have
to give the raises and they can't be executed without Board approval.
• More discussion took place as to the proposed Plan of Work and 2011 being a Legislative year
with additional expenses to support businesses on the local and state level.
• Airport infrastructure improvements along with runway improvements with TxDOT dollars.
• Regional focus on marketing and networking for the PEDC.
• Assisting the Diversity Task Force with staffing, etc.
• Search national and state sites for industrial and commercial properties with the updated website.
• Paris Junior College is evaluating all options for permanent incubator facility.
Motion was made by Pike Burkhart to approve the proposed PEDC Budget for FY 2010 -11 with
reductions to the major medical expense line item (6.8 %) and increase (by this amount) the New &
Existing Industry line items equally; seconded by Chad Brown. Motion carried.
PEDC Board Meeting Minutes
June 24, 2010
Discussion and possible action authorizing amendment to existing agreement and passing the
interest savings to Paris Packaging from the issuance and sale of Paris Economic Development
Corporation Sales Tax Revenue Refunding Bonds, Taxable Series 2010. Motion was made by Pike
Burkhart to approve the Resolution as submitted; seconded by Chad Brown. Motion carried.
Discussion and possible action regarding the Job Retention Training Agreement benefitting Turner
Industries. Steve stated that Tom Glascock, Paris Plant Manager for Turner Industries was looking for a
vendor to donate the mig welders to Paris ISD. Dr. Pam Anglin, PJC President was also trying to locate
the mig welders, but that the welders should not be part of the Job Retention Training Agreement. Kent
Mcllyar stated that he is still working on the agreement. Pike Burkhart made a motion to table this item;
seconded by Chad Brown. Motion carried.
Discussion and possible action regarding a Resolution and Credit Agreement with Capital One
Bank to issue Corporate Credit Cards to the Paris Economic Development Corporation. Steve told the
Board that essentially this credit application was to approve a $50,000 line of credit to be used for PEDC
expenses. Pike Burkhart had a concern with the Resolution wording and wondered if Kent Mcllyar could
amend it and have the bank accept the revised version. Dan Smith made a motion to approve the
documents, as submitted; seconded by Chad Brown. Motion carried.
The Board convened into executive session at 12:30 p.m. pursuant to Section 551.087 and Section
551.072 of the Texas Government Code to discuss and deliberate on the following:
A. Section 551.087 — Economic Development Negotiations
B. Section 551.072 — Real Property
Executive session ended at 1:50 p.m. There was no action taken as a result of executive session.
Dan Smith adjourned the meeting at 1:50 p.m.
Respectfully submitted,
Shannon Barrentine
PEDC — Comm. Dev. Specialist
PA