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1999-11-10-Minutes MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING -- November 10, 1999 The Paris Economic Development Corporation met in a regular meeting on Wednesday, November 10, 1999, at 4:00 P.M., in the City Council Chambers, City Hall, Paris, Texas. President Mike Rhodes called the meeting to order with the following boardmembers present: Dick Amis, Melba Harris, Jay Guest, and Donald Wall. Also, present were ex-officio boardmembers Bobby Walters, Mayor Charles Neeley, Chamber Chairman Paul Swasko, City Manager Michael E. Malone, and Executive Director Gary Vest. President Rhodes stated that 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. Boardmember Guest made a motion, seconded by Boardmember Wall, that the minutes be approved as presented. The motion carried unanimously. President Rhodes asked Gene Anderson, Director of Finance, to give the financial report for the month of October. Mr. Anderson gave the financial report. Mr. Anderson stated that he would be glad to answer any questions concerning this -- report. Boardmember Dick Amis made a motion, seconded by Boardmember Melba Harris, that the financial report be approved as presented. The motion carried unanimously. President Rhodes stated that Item No. 6 would be considered at this time. He said that this item concerned the appointment of an auditor to conduct the independent annual audit for the fiscal year ending September 30, 1999. Mr. Anderson stated that the Board is being asked to authorize City Manager Michae, I E. Malone to sign the engagement letter with Malnory, McNeal and Company. He said that this same organization was used the previous year, and Johnna McNeal would actually performing the audit. Mr. Anderson stated that Ms. McNeal estimated that the cost of $3,550.00, would remain the same as last year. Mr. Anderson said that Ms. McNeal had done an excellent job on the previous year's audit. Boardmember Amis made a motion, seconded by Boardmember Wall, that Malnory, McNeal and Company perform the annual audit for the fiscal year ending September 30, 1999. The motion carried unanimously. President Rhodes asked Gary Vest to give the Director's Report. Mr. Vest discussed responses received due to the advertising program, and discussed several prospects that he had worked with this past month. -- Mr. Vest said that in connection with the extension of the street in front of the building that Mark Cunningham is constructing near T & K Machine that this item 492 had to go before the City Council. He said at the City Council Meeting on November 8, 1999, there was a question as to procedure. Mr. Vest said that the City Council approved this item pending approval by the Acting City Attorney. Mr. Vest said that the Acting City Attorney Mr. Henderson had investigated this item and discovered that the street is located on private property, and that the street from 19th to it's location now is on property owned by the Paris Industrial Foundation. He said that the street extension is on property owned by the Paris Economic Development Corporation. City Manager Michael E. Malone said that the history actually goes back further than that, that there was 105 foot entryway into the old municipal airport, so all of the land at one time was owned by the City with no retention of right-of-way by the City at the time the property was transferred to the Paris Industrial Foundation. He said that the road most recently was improved by Paris Economic Development Corporation funds. He said the portion already in existence and has been improved and is not subject to City maintenance because it is owned by the Paris Industrial Foundation. He said the Paris Industrial Foundation conveyed the property back to P.E.D.C. and beyond that it was associated with T & K Machine. He said a portion of that property has been conveyed to Mark Cunningham, and this extension is to be built upon property owned by P.E.D.C. He said P.E.D.C. has the authority to extend the road or street at some point in the future. Boardmember Amis questioned the possibility if the Board wanted to build a narrower street and use a different material than City specifications. City Manager Malone stated that the Council authorized plans and specifications which were a different standard than the subdivision standard, since the subdivision standard does not apply. City Manager Malone stated that the Actin,g City Attorney has reviewed this from the legal standpoint and has approved it. Mr. Vest said that, regarding the lawsuit on the BITCO project, that we had gotten a judgment against Charles Rhoades, Steven Rackley, their spouses, and the BITCO Corporation. He said that David Rhoades was separated in the lawsuit. He said Mr. Rhoades attorney has made a recent offer of $5,000.00 up front and $1,000.00 per month for seventy months. Mr. Vest advised that the judgment would not be released until all payments were made, and another note would be structured. Mr. Vest stated that David Rhoades has filed a motion for arbitration, and if we refuse to accept this offer we have a trial date of December 7. Boardmember Don Wall made a motion that the Board go into executive session at this time to discuss this item. Boardmember Dick Amis seconded the motion which carried unanimously. 493 The Paris Economic Development Corporation went into executive session at 4:27 P.M. President Michael Rhodes reconvened the Paris Economic Development Corporation in open session at 4:35 P.M. -- He called for a motion to table the offer made by the attorneys representing Mr. Rhoades and to give Mr. Vest authorization to continue to negotiate with the attorneys. Boardmember Don Wall made a motion, seconded by Boardmember Jay Guest, to authorize Mr. Vest to continue negotiations with Mr. Rhoades attorneys. The motion carried unanimously. President Rhodes asked if there was any other business and there being none he declared the board meeting adjourned. President Michael Rhodes ATTEST: Assistant City Clerk Barbara Denny