Loading...
04/20/2018 Minutes PARIS ECONOMIC DEVELOPMENT CORPORATION MONTHLY MEETING Paris City Council Chambers 107 East Kaufman St. Paris, Texas 75460 Friday, April 20, 2018 9:30 A.M. MINUTES Board Members Present: Staff Present: Richard Manning, Chairman Michael Paris, Executive Director Marion Hamill, Vice-Chairman (arrived at 9:39 am) Chris Stout, Economic Development Associate Derrick Hughes Paula Brownfield, Administrative Assistant Ray Banks Ex-Officio Members Present: Guest(s) Present: Don Howell, Citizen Mary Madewell, The Paris News Delbert Horton, SuRRMA Gene Anderson, City of Paris, Finance Director Legal Counsel: City Council Liaison: Stephanie Harris, City Attorney Paula Portugal Call to Order. Mr. Manning called the meeting of the Paris Economic Development Corporation to order at 9:30 a.m. on April 20, 2018. Don Howell at 115 Airport Road, Reno, Texas, came forward. comments were concerning the sewer line to Paris Lakes development. Mr. Howell stated that Mr. Gilbert told him that once the sewer line was given over to the City he could tie into the line. He asked the PEDC Board not to pay out the $250,000.00 to Paris Lakes unless the sewer line is a public line. No one else came forward and the closed. Discuss and possibly approve Minutes of the February 15, 2018, Monthly Meeting and Minutes of the March 2, 2018, Special Meeting. Mr. Banks made a motion to approve the February 15, 2018, minutes. Mr. Hughes seconded the motion. Vote was 3-ayes, 0-nays. The March 2, 2018, minutes were not approved. Mr. Banks was not at that meeting and abstained from the vote; as a result, a quorum was not available for the vote. The March 2, 2018 minutes will be reviewed and voted on at the next meeting. PEDC Board Meeting Minutes April 20, 2018 Page Ћ of Ў Discuss and possibly approve February 2018 Financials and March 2018 Financials. is in the final year of their agreement. They submitted documentation showing compliance and were paid $8,000.00 promissory note and the $400,000.00 payment was made. Interest expense of $7,463.00 was paid on the bond. The Atmos Energy bill of $1,277.33 was very high for the month and we will be following up on this. We will be checking with Atmos for any leaks. Mr. Hughes mentioned that Atmos has been using an estimated billing system and we should check if that is part of reason the bill was so high. Mr. Paris went on to the Marketing & Promotion category. The Board had approved the Demographics Now purchase for $3,699.00. Mr. Banks asked why the Cash Flow page had TD Ameritrade as a payable when the Monthly Expenses worksheet shows AG Edwards as the retirement payable. Mr. Paris let the Board know that this was a mislabeling of the name under the Retirement expense on one of the PEDC spreadsheets. He asked Ms. Brownfield to change the spreadsheet. Mr. Paris told the Board that without listing the assets, we have about $3.7 million dollars in the bucket. Mr. Banks made a motion to approve the financials. Mr. Hamill seconded the motion. Vote was 4-ayes, 0-nays. Explanation and discussion regarding TD Ameritrade Payable of $425.77 as noted at the February 15, 2018, PEDC meeting. Mr. Anderson said there was an explanation in the Board packets. When we see the TD Ameritrade payable listed it is because the check is written on a Tuesday at the end of the month, while the paychecks are paid on a Friday at the beginning of the next month. The PEDC is reimbursing the City for the contribution made the month before and this shows as an adjustment in the cash flow report. Explanation and discussion of the final return payment of $148,522 to the PEDC by the Sulphur River Regional Mobility Authority. Certificate of Deposit matures December 2018. Mr. Horton gave the Board a handout with a breakdown of the entities involved and the funds used for the Highway 24 Project. The PEDC is receiving a second check from SuRRMA in May. The amount will be $149,054.07. Mr. Paris stated that TxDot recently funded $70,000,000.00 towards Highway 82 between Bonham and the Lamar County line. Mr. Horton and Mr. Paris have discussed how to enhance the TxDot scoring for Highway 82 at the Lamar County line to the Paris city limits. Discuss Paris Lakes Incentive Agreement of $250,000 towards the reimbursement of infrastructure. Mr. Banks said that the contract states all of the agreement needs to be completed by May 31, 2018, for the $250,000.00 payout to happen. Mr. Paris said there has been no communication with Paris Lakes. Discuss and possibly approve an Economic Impact Study conducted by Elizabeth Morris, CEO and Chief Economist of Insight Research. timely manner for the Board to review. Mr. Manning made a motion to table this item. Mr. Banks seconded the motion. Vote was 4-ayes, 0-nays. PEDC Board Meeting Minutes April 20, 2018 Page Ќ of Ў Discuss and possibly approve auctioning the I-beam frame and two overhead doors in the shed at 2305 NW Loop 286. Mr. Paris told the Board that this was the address to the old Oliver Rubber building. On the east side of the property is a large shed with an I-beam frame that could be salvaged. He would like to take bids from auctioneers to sell the frame and also a generator that was in the building. This would recoup some costs that we are incurring. Ms. Harris stated that we must clarify that these items are sold as- is. Mr. Manning made a motion to auction off the I-beam -allow Mr. Paris to work out the contract. Mr. Banks seconded the motion. Vote was 4-ayes, 0-nays. Discuss and possibly approve an auctioneer for the selling of contents of the old Superior Switch site. Mr. Paris asked that this item be tabled because he heard from the owner of the Superior Switch property. The owner decided they would do an auction. We heard from GHD that the environment was clear with no outliers and no major liabilities on the site. The closing date for this property will be in May and we will be allowing the owner a few months to sell the items inside the building. We will include in the contract that what they are doing in the building cannot interfere with the clean-up. Mr. Manning made a motion to table this item. Mr. Hughes seconded the motion. Vote was 4-ayes, 0-nays. The staff had a retreat a few months ago. The discussion was on the overall strategic goals of the office with an emphasis on core competencies. Staying focused on our core competencies will improve the economic impact to the community. The fundamental goal is to create and retain jobs to add value to the community. Promote Paris outside of Paris. Efficient in our due diligence of land, buildings, economic studies and future assets. Internal communication with all entities we work with. Looking forward as we work on projects to continue to build value. Planning with neighboring communities to development a mega site. Infrastructure evaluation to bring the best to both current and future employers. Customer service to both internal and external customers. File management and date collection to keep us transparent. Work Force communications and PJC grant matching. Public relation and press releases. Update website. Promotional literature. The next marketing travel will be to Orlando for the NPE Conference The Plastics Show. Oncor has a booth at the show and we are one of the entities invited to share the booth. Work Force had a Texas Scholars Banquet this past week. Lamar County was well represented. PEDC Board Meeting Minutes April 20, 2018 Page Ѝ of Ў Paris Junior College is offering free tuition to seniors. In the labor market there is a need for bookkeepers and accountants. TxDot did approve the $70,000,000.00 for the development of Highway 82 between Bonham and the Lamar County line. This would be a four-lane highway. TxDot has set aside money for the Loop 286 feasibility study. American SpiralWeld has had some changes since President Trump put tariffs on steel. They are evaluated how this affects their business. Mr. Clem of the Moore Law Firm is establishing a plat for the land. The City Council approved the vendor for the Texas Capital Fund, CDBG grant, for developing rail and we have moved forward with the application. Convene into Executive Session: a) 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. 1) Acquisition of Land 2) American SpiralWeld Pipe 3) Project Sun Bird Chairman Manning convened the Board into Executive Session at 10:19 a.m. Reconvene into Open Session and possibly take action on item(s) discussed in Executive Session. Chairman Manning reconvened the Board into open session at 10:49 a.m. Mr. Paris stated that in December the City Council approved the PEDC incentives and the tax abatement for American SpiralWeld. We are revising two parts of this today. The PEDC offering of $500,000.00 in a forgivable loan and the City Council offering of a 10-year tax abatement. We are recommending revising the incentives by not adding any extra monies, but restructuring those incentives. Adding $2,000,000.00 to the forgivable loan making it $2,500,000.00. Changing from the 10-year tax abatement to a 7-year de-escalating tax abatement. The percentages of the abatement de- escalate until year seven. We are not adding monies. We are restructuring the incentive and acknowledging that we must go to City Council for final approval. Mr. Manning made a motion to restructure the incentive package for American SpiralWeld set forth by Mr. Paris with no change in the dollar amount and to take this to City Council for approval. Mr. Banks seconded the motion. Vote was 4-ayes to 0-nays. Discuss Future Agenda Items. No future agenda items were discussed. PEDC Board Meeting Minutes April 20, 2018 Page Ў of Ў Adjourn Mr. Manning made a motion to adjourn. Mr. Hughes seconded the motion. Vote was 4-ayes to 0-nays. The meeting was adjourned at 10:53 a.m. Respectfully submitted, Paula Brownfield Administrative Assistant Paris Economic Development Corporation