2003-05-08-Minutes
MINUTES OF THE SPECIAL MEETING OF THE PARIS ECONOMIC
DEVELOPMENT CORPORATION
MAY 8, 2003
The Paris Economic Development Corporation met in special session on Monday, May
8, 2003, 2:00 P. M. at the Paris Junior College Applied Technology Building, Room
1206, 2400 Clarksville Street, Paris, Texas. President Jay Guest called the meeting to
order with the following Directors present: Curtis Fendley, Mike Dunn, and Don Wall.
Also present was Executive Director Gary Vest, Ex-officio Member Bobby Walters, City
Manager Michael E. Malone, City Attorney Larry W. Schenk, and City Clerk Mattie
Cunningham.
President Guest announced that the Board would go into executive session at 2:01 P. M.
In accordance with Sec. 551.086 of the Open Meetings Act, to discuss possible
incentives, pending negotiations, and commercial or financial information from business
prospects regarding the following:
A. Project Holt.
At 3:30 P. M., President Guest declared the executive session closed and the
Board went back into an open session.
President Guest called for discussion of and possible action on establishing incentives
to be offered to the prospect Project Holt and to be included in an incentive agreement
which will be prepared and presented to the Board for approval at a later date.
After discussion, a motion was made by Director Fendley that the PEDC offer Project
Holt a 1.5 million dollar loan and a 5 acre building site in the Industrial Park and
authorize Mr. Vest and City Attorney Schenk to continue negotiations on the contract
and bring back to the Board for final approval. The motion was seconded by Director
Dunn and carried unanimously.
There being no further business, the meeting adjourned.
JAY GUEST, PRESIDENT
ATTEST:
MATTIE CUNNINGHAM, CITY CLERK