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05/16/2017 MINUTESPARIS ECONOMIC DEVELOPMENT CORPORATION MONTHLY MEETING Paris City Council Chambers 107 East Kaufi an St. Paris, Texas 75460 Board Members Present: Richard Manning, Chairman John Brockman, Vice -Chair Don Wilson, Secretary/Treasurer Ray Banks Ex- Officio Members Present: Ken Higdon, Lamar County Chamber John Godwin, City of Paris Legal Counsel: Stephanie Harris, City Attorney Call to Order. Tuesday, May 16, 2017 4:00 O'CLOCK P.M. MINI TTF.S Staff Present: Michael Paris, Executive Director Chris Stout, Economic Development Associate Paula Brownfield, Administrative Assistant Guest(s) Present: Anna Rae Gwar anski, The Paris News City Council Liaison: Billy Trenado Mr. Manning called the meeting of the Paris Economic Development Corporation to order at 4:00 p.m. on May 16, 2017. Citizens' Input Mr. Manning invited those present to speak during Citizens' Input. No one came forward and the Citizens' Input was closed. Discuss and possibly approve Minutes of the April 18, 2017, Monthly Meeting. Mr. Manning asked if everyone had read the minutes. The Board indicated that they had. Mr. Banks made a motion to accept the April 18, 2017 minutes as presented. A second was made by Mr. Brockman. Vote was 4 -ayes to 0 -nays. Discuss and possibly approve April 2017 Financials. Mr. Wilson pointed out the biggest expenditure in the financials for April was the Park Street base put down by Wheeler Construction for $56,922.00. Our part of the project has been completed. The PEDC Board Meeting Minutes May 16, 2017 Page 2 of 4 TEDC Membership is a yearly fee of $500.00. The total expenses for the month of April were $91,239.43. On the last page of the spreadsheet under Cash Flow Analysis the revenue shows $102,000.00 and expense shows $91,000.00. Mr. Wilson gave us the Total Cash & Reserve for the month of April $3,470,735.44. He also told us that this was the last year we would be paying into the I & S and Reserve Balance Fund since the last year of the bond payment has already been encumbered. Mr. Banks asked about the year -end balances of the Lone Star and Texas CLASS Investment Pools. Mr. Paris said that after accessing the numbers on both balance sheets that the Investment Pool numbers have not changed since the end of September 2016. He will ask Gene if there is another account that interest is located in for the Investment Pools. Mr. Banks was looking for a difference in the numbers from the end of last year until now or a line item that showed interest earned. Mr. Wilson stated that pooled accounting has a lot of entities working with your money. Mr. Banks made a motion to accept the April 2017 Financials. A second was made by Mr. Brockman. Vote was 4 -ayes to 0 -nays. Discuss and possibly approve a resolution for SuRRMA's request for support in the amount of $2000 within the PEDC 2016 -2017 Budget. Mr. Manning read the caption to the resolution. Ms. Harris stated that this resolution was the result of the discussions at the last Board meeting. The resolution has the factual findings in support of the promotional expense in the amount of $2000.00 to SuRRMA. Mr. Brockman made a motion to accept the resolution as written. A second was made by Mr. Wilson. Vote was 3 -ayes to 1 -nay. Mr. Banks was the nay vote. Executive Director's Monthly Report. • Project Wind Cave came to us from the Governor's Office. This is a tubing extraction company making tubes for the oil field industry and the Houston area. The company is Spanish with an executive for the company in the Houston area. This was $55 million investment and 120 jobs. Paris missed on Project Wind Cave. We were in the top three with our incentives; including the New Market Tax Credits, where between 20 -25% of the cost is given as cash up front to the investing business. We would have come up with more incentives to help with the modification of a building; but after they considered our existing building, they decided it would cost more to modify the building than construct a new building. The other three communities in the running are all in Texas and they all have existing buildings. • Site Selector Consultants Strategic Development Group approached us about Project DS. Project DS is looking for 20 -50 acres, a new build of 30,000 - 50,000 sq. ft., and about 40 jobs. We promoted the Build to Suit at 2305 NW 286. They are looking for rail which can be accessed by the site. We took their request to Kiamichi Rail and the answer was that it will take six to eight weeks with a cost of six figures to have the tracks ready. When asked more of the six figures, the answer was below a million. Mr. Paris has tried to contact Project DS by email several times and has had no PEDC Board Meeting Minutes May 16, 2017 Page 3 of 4 response. He stated that usually the interest is fading. Mr. Wilson said that the rail is suspended in the air due to the flooding. And pointed the issue out to Mr. Godwin. • Project Wind Cave came directly from the Governor's Office. Project DS came through Team Texas. • Lead Generation. The end of March was our first meeting with the Governor's Office. Representing Paris at the meeting were: Mr. Derrick Hughes, PEDC Board Member; Dr. Pam Anglin, President of Paris Junior College; Mr. Greg Wilson, President of Lamar Bank. Our presentation covered assets and resources in Paris, Texas. They did not realize we had a huge population of trailer manufacturers in the western part of the county. The Governor's Office has been talking to a trailer manufacturer from Italy. We have gathered information for them about our trailer manufacturers' employees. Our calculations show that approximately 70% of them are welders. • Three more phone calls were set up through ROI. Mr. Paris acknowledged that he has been very disappointed with ROI and the quality of the leads that we have received. Nothing has come about through ROI. • Mr. Paris met with commercial real estate developer, Earl Jones, from Midlothian area. The discussion gave new ideas for our build to suit site and our industrial park development. • The AUVSI XPONENTIAL Conference was in Dallas. ( AUVSI = Association for Unmanned Vehicle Systems International) The market is growing rapidly in all types of unmanned vehicles. In the manufacturing part of the show there were about one hundred manufacturers that Mr. Paris contacted, this resulted in eight face to face meetings and two good contacts to stay in touch with. • We just had the Paris Air Show with all the planes flying in. This would be a great time to talk to the Dallas chapter of the AUVSI about an unmanned air show and obstacle course at our airport. Mr. Paris indicated that he would appreciate Mr. Higdon's thoughts on pulling this project together. • Mr. Paris met with Mr. Noel Paramanantham, Paris District Engineer for the TxDot, to check the progress on the Loop Study. Also, he asked what the contribution amount Paris would need as leverage to score higher on the priority list of road projects. Noel believes that there is $1.3 million already set aside and the Loop Study could be done without a public /private partnership. This looks very promising. Everyone noticed the standing water after the heavy rain. We asked that the water around the Loop when it rains also be studied. • Park Street has the chip seal on it. • Marketing has been in the form of email blasts to site selector consultants, commercial real estate brokers, and those we meet at the conferences. The rail logistics and PJC 60x3OTX program were both highlighted. The 60X30TX program PEDC Board Meeting Minutes May 16, 2017 Page 4 of 4 is highlighting the aspect that 60% of the workforce will need a one -year certificate or higher. Focusing on this is good for Lamar County. Convene into Executive Session: Convene into Executive Session pursuant to Section 551.087; Deliberation of Economic Development Negotiations to deliberate Commercial and Financial Information and Economic Incentives relating to the following: Commercial real- estate development. • Project Sun Bird Chair Manning convened the Board into Executive Session at 4:35 p.m. Reconvene into Open Session and possibly take action on item(s) discussed in Executive Session. Chair Manning reconvened the Board into open session at 5:07 p.m. No action was taken from the discussion that took place in Executive Session. Discuss Future Agenda Items. Mr. Wilson asked that Trade Shows and Travel be put on the agenda. Mr. Paris stated that according to the bylaws these items do not need to be approved by the Board. He will, however, show them to the Board at the next meeting. The Board Members are going to check their calendars for June 13. 2107. The meeting will tentatively setup for that date. Adiourn Mr. Banks made a motion to adjourn. Mr. Brockman seconded the motion. Vote was 4 -ayes to 0- nays. The meeting was adjourned at 5:10 p.m. Respectfully submitted, Paula Brownfield Administrative Assistant Paris Economic Development Corporation