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08/25/1994 MINUTES55 MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION August 25, 1994 The Paris Economic Development Corporation met in a regular meeting on Thursday, August 25, 1994, at 4:00 P.M., in the City Hall, City Council Chambers, Paris, Texas. Vice-President Curtis Fendley called the meeting to order with the following board members present: Dick Amis, Leon Williams and Barney Bray. Also present were ex-officio board members, Jo Ann Parkman, Ike Jewett (representing Gary Cunningham), Gary Vest, Economic Development Director, Michael E. Malone, City Manager, and T. K. Haynes, City Attorney, as counselor. Mr. Fendley stated that the first item on the agenda was approval of the minutes from the previous meeting of the Paris Economic Development Corporation. He asked if there were any corrections or additions to the minutes of the previous meetings and there was none. Board member Dick Amis made a motion, seconded by Board member Barney Bray, to approve the minutes as presented, and the motion was approved unanimously. Vice President Fendley asked Mr. Malone about the Financial Report, and he said Mr. Anderson would be available shortly to go over the report. Mr. Fendley stated they would pass this item and come back to it later in the meeting. Mr. Fendley stated that last month the Board discussed consideration of setting a permanent date and time for the meetings for this year. He said the Board had always met on the fourth Thursday of each month. He said the Mayor had requested the Board look at changing the date and time due to a conflict with the Ark-Tex Council of Governments meeting on the same Thursday each month. Mr. Fendley noted that the reason the meetings were set on the fourth Thursday was to coincide with the time Regular Council meetings were held in case there were items to come before the Council. Board member Bray suggested the meeting be moved up to the fourth Wednesday of the month if it was convenient for everyone. It was the consensus of the Board to set the regular meeting for each month to the fourth Wednesday of the month at 4:00 P.M. Mr. Malone stated that in September most of the Board and ex-officio members will attend the Texas Department of Transportation Commission meeting on September 28th and 29th. Vice-President Fendley stated that in September the Board needed to move the meeting to Monday or Tuesday of that week. After discussion among the board members, it was the consensus of the Board to set the meeting for September to Tuesday, September 27, 1994, at 4:00 P.M. Vice President Fendley said he had nothing to report in connection with the Chairman's Report at this time. Mr. Fendley said the next item on the agenda was the request of T & K Machine, Inc. and the Paris Industrial Foundation for the purchase of 16.66 acres. He stated approximately five years ago T & K Machine, Inc. purchased 16.66 of property from the Paris Industrial Foundation at a price of $1,000.00 per acre with the stipulation in the agreement that if purchaser of the property did not expand his plant or build on that site within five years the Industrial Foundation would purchase the property back from Mr. Westbrooks at the price paid for the property. 56 Mr. Fendley asked Mr. Haynes if he had some information regarding this item. Mr. Haynes said the Paris Industrial Foundation has asked this Board to carry out their obligations which were contractually made with T & K Machine Company. Mr. Haynes noted the request included some expense which was not a part of the agreement. Mr. Bray stated he felt this was not a large sum requested and noted Mr. Westbrooks is a small, minority contractor in the community trying to make plans for future growth. He said that he felt the Board should help small companies as well as large companies. Mr. Haynes said the road that services T & K could also serve this tract of land. Vice-President Fendley asked for other comments. Board member Williams asked if the Paris Industrial Foundation was an entity of the City of Paris. Mr. Fendley said the Industrial Foundation is a private, non-profit organization. Mr. Haynes stated the Industrial Foundation was initially formed to accomplish what this Board is trying to do now. Mr. Vest commented that the expenses added by T & K Machine were incidental bringing the total request to $18,381.00. Mr. Vest said he felt this was a nominal amount when looking at the industry, payroll, and what it meant to the community. Mr. Vest said he felt this would build a lot of good public relations with Mr. Westbrooks, to obtain this type assistance from the Board. He also said he would like for the Board to consider the road condition leading into this property and Mr. Westbrooks plant. Mr. Vest stated that Mr. Westbrooks brings a number of representatives of major corporations such as Boeing, McDonald Douglas, etc., to his plant on this road. Mr. Vest said he would like the Board at some point in time to consider this road either in the City's Capital Improvements Budget or enhancement of the roadway by the Board funding. Board member Bray stated he felt this was something they could look at, but at the present time they needed to deal with the property in question. Mr. Haynes said he had driven on the road during the past week, and he had noted a few potholes which needed to be filled. Ms. Parkman asked if in this proposal the Board would buy the land and be responsible for it, or was the Board funding the Industrial Foundation to buy the land back. Ms. Parkman wanted to know if the Board was going to be in the land business or was the Industrial Foundation going to handle the land, and the Board furnishing the money. Mr. Haynes said the request was that they asked the Board to repurchase the land for them, not to fund the purchasing of it. Mr. Bray stated that he felt the Board may need to have this matter clarified. Mr. Fendley stated he felt the Board could vote to fund this request one way or the other, but needed clarification. Mr. Fendley said approximately 260 acres of other land is in the foundation. Ms. Parkman read the request stating that both parties are requesting the assistance of the Board to hold and market this property for other potential industrial uses. 57 Mr. Vest said he felt the Board should decide what they want to do as far as getting into the land business.' He said the Industrial Foundation was originally formed for the purpose of acquisition of industrial sites to be held for industrial projects. Mr. Vest said the Paris Industrial Foundation at this time basically does not have any funds, and that is why they have come to the Board with this request. Mr. Vest said with the creation of the Paris Economic Development Corporation he felt it would be very difficult for the Industrial Foundation to operate as it has in the past. He said he felt the general consensus of the people in the community was that they want the Board to hold the title to do whatever is necessary to make the property presentable for marketing. Mr. Amis said that as a spin off of this request, the Foundation owns the adjoining property and they have been financially unable to maintain it in a good showing condition. Mr. Amis said that he felt eventually the Foundation would come to the Board for the adjoining property. Mr. Haynes said he understood that it is just a matter of time before all of the Foundation's holdings would be transferred into this Corporation. It was the consensus of the Board that this was a transition they were involved in now and they were working towards the same goal. Board member Amis made a motion, seconded by Board member Barney Bray, that the Board approve the purchase of the tract of land at the amount that Mr. Westbrooks requested of $18,381.00, and the motion carried unanimously. Mr. Fendley asked Mr. Anderson if he was ready to give the Financial Report at this time. Mr. Anderson explained that the Board had been given a copy of the standard report consisting of the balance sheet showing the cash balance as of today, revenue summary, and the expenditures. Mr. Anderson asked for questions. There was discussion regarding the Soup Street Project. Chairman Fendley said if there was .no other discussion, then the report was accepted as presented. Vice President Fendley asked Mr. Vest to make his report. Mr. Vest stated there were two things he would like to report on concerning industrial activities. He said they had been working with Clayton Mobile Homes out of Tennessee, but they decided on a location in Bonham. He said he had also received a request this week from one of the local industries for some loan assistance. He said he was reviewing this now and information would be sent out to all the members of the Board for action at a later meeting. Mr. Vest said regarding the Annual Plan of Work, he had asked Chairman Cecil to give him some more time. He said he hopes to have something to the Board members in the next few weeks for discussion at the next meeting. He said at the present time he has identified four major goals. He said one would be a public relations campaign primarily focusing on the local businesses, and then the marketing plan promoting the advantages and positive aspects of our community, industrial recruitment including retention/expansion of local industries and target sector industries, community development which includes infrastructures and work force training and education. He said he would be getting something to the Board members for review before the next meeting. 8 Vice President Fendley asked if there was any other business and there being none he declared the board meeting adjourned. VICE PRESIDENT CURTIS FENDLEY ATTEST: ASSISTANT CITY CLERK, BARBARA DENNY