10/19/2021 MinutesPARIS ECONOMIC DEVELOPMENT CORPORATION
MONTHLY MEETING
Paris City Council Chambers
107 East Kaufman St.
Paris, Texas 75460
Tuesday, October 19, 2021
4:30 O'CLOCK P.M.
Board Members Present:
Josh Bray, Chairman
Chase Coleman, Secretary/Treasurer
A.J. Hashmi
Stephen Terrell
Mark Homer
Eric Roddy
Ex -Officio Members Present:
Paula Portugal, City Mayor
Pam Anglin, President, PJC
Grayson Path, City Manager
MINUTES
Staff Present:
Maureen Hammond, Executive Director
Chris Stout, Economic Development Associate
Stephen Kelly, Executive Assistant
Legal Counsel:
Casey Gain, PEDCAttorney
Guest(s) Present:
Mary Madewell, The Paris News
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Call to Order
Mr. Bray called the monthly meeting of the Paris Economic Development Corporation to order at 4:30 p.m. on
October 19, 2021. Board Member Curtis Fendley was absent. The Board had a quorum in attendance.
Invocation
Mr. Erik Roddy gave the invocation.
Welcome and Opening Remarks
Mr. Bray thanked everyone for attending the PEDC monthly meeting in addition to asking the board to consider
combining the November and December board meeting to early December, due to upcoming holidays.
Citizens' Input
Mr. Bray invited those present to speak during Citizens' Input. No one came forward and the Citizens' Input was
closed.
Discuss and Consider Approval of the Minutes of the Regular Meeting held August 17, 2021
Mr. Bray asked for discussion and approval of the minutes.
Mr. Roddy made a motion to approve the September 28, 2021, minutes. Mr. Coleman seconded the motion.
Vote was 5 -ayes to 0 -nays.
Discuss and Consider Approval of the August 2021 Financial Statements
Mr. Bray stated that October financials would be available in November due to finalization of year end closeout.
No action or approval was required at this time.
PEDC Board Meeting Minutes
Tuesday, October 19, 2021
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Discuss and Consider Action on Speculative Buildings
Discussion ensued on the need for speculative buildings as originally requested by Dr. Hashmi. Mr. Bray
expressed interest in understanding free cashflow, ability to service the debt and optimal size desired by provide
potential prospects. Dr. Hashmi mentioned that he initially opposed the notion of the PEDC building speculative
buildings but due to the changing nature of needs by prospects, he currently believes it is worth exploring if
found to be financially feasible. Ms. Hammond added that over the last five years, thirty percent of the RFPs
have asked for an existing building ranging between 50,000 to 100,000 square feet, which is consistent with
what she has heard from site consultants. Ms. Hammond provided examples from her EDC counterparts in other
communities that have had positive outcomes including generating additional income. Mr. Bray stated he would
like for the board to reconvene on the matter during the January board after Hammond has had time to
research. Ms. Hammond agreed to research and report back findings in January.
No action was taken on this item.
Convene into Executive Session:
1) Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the purchase,
exchange, lease, or value of real property.
2) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or deliberate regarding
commercial or financial information that the governmental body has received from a business
prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of
the governmental body and with which the governmental body is conducting economic development
negotiations; or (2) to deliberate the offer of a financial or other incentive to a business prospect
described by Subdivision (1), to wit:
• Project Fast Track
• Project Iron Horse
• Project Mustang
• Project Rocket X
• Project Candy Cane
• Project Pecan Grove
3) Section 551.071 of the Texas Government Code, Consultation with Attorney, to receive legal
advice from the PEDC Attorney about (1) pending or contemplated litigation and/or (2) on
matters in which the duty of an attorney to their client under the Texas Disciplinary Rules of
Professional Conduct of the State Bar of Texas clearly conflict with this chapter, regarding
potential loan to Paris Economic Development Corporation.
Chairman Bray convened the Board into Executive Session at 4:36 p.m.
Reconvene into Open Session and Consider Action on Item(s) Discussed in Executive Session
Chairman Bray reconvened the Board into Open Session at 5:33 p.m.
No action was taken on items from executive session.
Discuss Future Agenda Items
No future agenda items were brought forward to discuss.
PEDC Board Meeting Minutes
Tuesday, October 19, 2021
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Adiourn
Mr. Roddy made a motion to adjourn the meeting. Mr. Coleman seconded the motion.
Vote was 5 -ayes to 0 -nays
Mr. Bray adjourned the meeting at 5:35 p.m.
Respectfully submitted,
Stephen Kelly
Executive Assistant
Paris Economic Development Corporation