1996-08-14-Minutes 62
MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION
REGULAR MEETING
The Paris Economic Development Corporation met in their annual
meeting on Wednesday, July 24, 1996, at 4:00 P.M., in the City
Hall North Annex, Fire Training Room, Paris, Texas. President
Curtis Fendley called the meeting to order with the following
boardmembers present: Dick Amis, Michael Rhodes, Leon
Williams, and Barney Bray. Also present at this meeting were
ex-officio boardmembers, Ike Jewett, Bobby Walters, Dr.
Marshall Dougherty, Gary Vest, Mayor Eric Clifford, City
Manager Michael E. Malone, and City Attorney T. K. Haynes.
President Fendley stated the next 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
meeting and there were none. President Fendley stated since
there were no corrections or additions to these minutes they
stood approved as presented.
President Fendley asked Mr. Gene Anderson, Director of
Finance, to give the financial report. Mr. Anderson gave the
report. Mr. Fendley called for questions and there were
none. Boardmember Barney Bray made a motion, seconded by
Boardmember Michael Rhodes that the report be approved as
presented. The motion carried unanimously.
President Fendley stated that there would not be a President's
Report given at this time.
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President Fendley stated that .the next agenda item concerning
the Director's Report would be covered later in the meeting.
President Fendley asked Mr. Malone if he had any information
to report concerning the City under the City Engineer's
Projects Report. Mr. Malone said that he had not asked the
City Engineer to attend this meeting because there was not any
new information to report at this time.
President Fendley asked Mr. Vest to give the Director's
Report. Mr. Vest advised that due to advertising they had
received thirty-nine responses since the last meeting. Mr.
Vest advised that Mr. David Smith was attending the Economic
Development Institute held at the Oklahoma University this
week. He said this was a three year training program in
economic development, and he will receive some valuable
information. Mr. Vest said they had just recently completed
their first survey of the ACURA Cost Of Living Survey
(American Chamber of Commerce Researchers Association) which
will be done on a quarterly basis. Mr. Vest asked for any
questions concerning his report and there was none.
President Fendley mentioned the fact that in prior years an
Industry Appreciation or Allies Day had been observed, and he
wanted to know if anything was planned for this year. Mr.
Vest said they had discussed this in the program of work, and
this would be an event that could be observed. Mr. Vest
stated that the Industrial Appreciation Award will be given at
the Annual Chamber of Commerce Banquet in October. He said we
need to be thinking about the industry that's made significant
contributions this year either through growth and expansion,
or community involvement, etc. After discussion as to how
this award was handled this past year, President Fendley
appointed a committee comprised of Boardmembers Dick Amis,
Michael Rhodes and Barney Bray and asked them to make some
recommendations to Mr. Vest, and it will be discussed later.
President Fendley asked if there was any other business and
there being none he declared the board meeting adjourned.
PRESIDENT, CURTIS FENDLEY
ATTEST:
ASSISTANT CLERK, BARBARA DENNY
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PARIS ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO.. 96-010
WHEREAS, the Paris Economic Development Corporation is a non-profit corporation
governed by the Development Corporation Act of 1979 and was established for the purpose of
promoting, assisting and enhancing economic development; and,
WHEREAS, the promotion and development of new business enterprises is deemed to
benefit the public welfare as the same results in the maintenance of a higher level of
employment, economic activity and stability; and,
WHEREAS, the Paris Economic Development Corporation bas granted assistance to Bits
International Company, dba Bitco, in the form of tile construction of three (3) buildings on 8.119
acres of property on Loop 286 N.W., the granting of a three (3) year lease agreement with an
option to buy said property at PEDC's cost, the contribution of $62,500.00 to the Northeast
Texas Economic Development District as PEDC's share of the total loan made to Bitco, and the
guaranteeing or seventy-five percent (75%) of the master loan made to Bitco by participating
banks; and,
WHEREAS, in order to assure Bitco's success in maintaining the newly created jobs
which are essential to the welfare and prosperity of the citizens of Paris, it is deemed appropriate
that it be awarded an operating costs grant in the amount of $100,000.00, said grant being
contingent upon approval of Bitco's loan guaranty application by the Small Business
Administration; and,
'WHEREAS, in the interest of time, it further deemed appropriate that this resolution
awarding such grant be executed in accordance with Section 5.06 of the Bylaws of the Paris
Economic Development Corporation; NOW, THEREFORE,
BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT
CORPORATION, that an operating costs grant in the amount of $100,000.00 be, and the same
is hereby, awarded to Bits International Company, dba Bitco, said grant being contingent upon
approval of Bitco's loan guaranty application by the Small Business Administration; and,
BE IT FURTHER RESOLVED, that the Director of Finance of the City of Paris, W.
E. Anderson, be, and be is hereby, authorized and directed to dispense said grant in the amount
of $100,000.00 to Bitco forthwith; and,
BE 1T FURTHER RESOLVED, that this resolution be executed in accordance with
Section 5.06 of the Bylaws of the Paris Economic Development Corporation.
PASSED AND ADOPTED this 16th day of August, 1996.
Curtis Fendley, President
Barney Bray, IIl, Vice-P4~esklgnt .
Richard M. Amis, Secretary-Treasurer
Leon Williams, Director
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Michael Rhodes, Director
ATTEST:
Richard M. Amis, Secretary-Treasurer
T. K. Haynes, City Attorney