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05/17/2022 MinutesPage 1 of 3 PARIS ECONOMIC DEVELOPMENT CORPORATION MONTHLY MEETING Paris City Council Chambers 107 East Kaufman St. Paris, Texas 75460 Tuesday, May 17, 2022 5:30 O'CLOCK P.M. MINUTES Board Members Present: Staff Present: Josh Bray, Chairman Curtis Fendley, Vice Chairman Chase Coleman, Secretary/Treasurer Stephen Terrell Erik Roddy Mark Homer Ex -Officio Members Present: Maureen Hammond, Executive Director Chris Stout, Economic Development Associate Stephen Kelly, Executive Assistant Legal Counsel: Casey Gain, PEDC Attorney Paula Portugal, City Mayor Guest(s) Present: Grayson Path, City Manager Robert Vine, Assistant City Manager Reginald Hughes, Mayor Pro Tem/City Council Liaison Pam Anglin, President PJC Call to Order Mr. Bray called the monthly meeting of the Paris Economic Development Corporation to order at 5:30 p.m. on May 17th, 2022. Invocation Mr. Erik Roddy gave the invocation. Welcome and Opening Remarks Mr. Bray opened by thanking everyone in attendance, including City Council and Staff, for being present during tonight's board meeting. 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 April 19, 2022 Mr. Bray asked for discussion and approval of the minutes. Mr. Fendley made a motion to approve the April 19, 2022, minutes. Mr. Roddy seconded the motion. Vote was 6 -ayes to 0 -nays PEDC Board Meeting Minutes Tuesday; May 17, 2022 Page 2 of 3 Discuss and consider approval of the April 2022 financial statements Mr. Coleman reported on financials for April 2022. He stated that for the month of April, total assets were at $8,590,947. Roughly $2.7 million of it was in cash, $2.1 million in investments, $300,000 in taxes receivable, and $3.4 million was in the industrial park. Total liabilities were $2,452,660 from a loan with the City of Paris. This left a net position of approximately $6,138,287 million. He noted that the line item titled "industrial incentives" totaling $1,391,550 is understated due to the recent addition of Blossom Aerospace. This adjustment will bring the amount to an estimated $1,500,000 and will be reflected on next month's financials. Mr. Coleman resumed discussion on the income statement, stating total revenues for the month were $126,657 and expenses were $42,805, leaving a net position for the month of $79,457 after the interest deduction. He closed by stating sales tax revenues were slightly down and referenced that in prior years April has never been a high generating month for sales tax. There were no items of concern, and everything is within budget. Mr. Coleman concluded by stating that we are continuing to have a strong year financially. Mr. Terrell briefly inquired if the current April's sales tax was higher than last year's revenue. Mr. Bray and Mr. Coleman confirmed that it was with a brief discussion. No additional questions followed. Mr. Terrell made the motion to approve financials for the month of April. Mr. Homer seconded the motion. Vote: 6 -ayes to 0 -nays Review and Discuss report from executive director, Maureen Hammond Branding/Identity Project: Ms. Hammond reported that North Star conducted their familiarization tour and interviews in Paris, Texas, from May 91h through May 12th. In total there were 10 focus groups with an average of 10 people per group. The groups consisted of Young Professionals, City Council, PEDC Board, Lamar County Chamber Board, Business Community, Primary Employers, Realtors/Developers, City/PEDC/Chamber Staff, and the Ministerial community. Several one-on-one interviews took place between focus groups to include nearly 30 community leaders and citizens. Ms. Hammond added that North Star reported interviews with a total of approximately 100 people and noted that they felt very welcomed during their visit and had an impactful trip. She concluded her report by thanking the board for the time they contributed to participating in the interviews and for making the branding/identity project a priority. Policy Review Committee: Dr. Hashmi, Mr. Homer, Mr. Roddy, and Ms. Hammond have completed review of the operating standards and have determined the committee needs more time to evaluate the document and ensure it is consistent with other internal policies. The committee plans to meet within the next 45 days with final review within a couple months. RFP for Lot Clearing and Cleanup of PEDC Sites: Request for bids were sent out on April 24th for the newly acquired land next to Kimberly-Clark. Two bids were received in response to our request. Ms. Hammond noted that staff needs time to evaluate the bids and will present a recommendation to the board in June. Mr. Roddy inquired about shredding land maintenance at Gene Stallings Industrial Park. Ms. Hammond responded that due to delays resulting from rains, the local company hired intends to complete work at Northwest Industrial Park first and will start Gene Stallings Park afterwards for routine upkeep. No additional questions followed these updates. PEDC Board Meeting Minutes Tuesday; May 17, 2022 Page 3 of 3 Convene into Executive Session: 1) 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 Athens 2) Pursuant to Section 551.074 of the Texas Government Code: 1) to deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of a public officer or employee: or 2) to hear a complaint to charge against an officer or employee. Personnel. Chairman Bray convened the Board into Executive Session at 5:38 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 5:51 p.m. Discuss and Consider Action on Project Athens Mr. Fendley made the motion to approve the Performance Agreement for Project Athens with suggested corrections on page four as discussed during Executive Session. Mr. Coleman seconded the motion. Vote: 6 -ayes to 0 -nays. Discuss Future Agenda Items No future agenda items were brought forward to discuss. Adjourn Mr. Roddy made a motion to adjourn the meeting. Mr. Coleman seconded the motion. Vote was 6 -ayes to 0 -nays Mr. Bray adjourned the meeting at 5:53 p.m. Respectfully submitted, �111.11, Stephen Kelly Executive Assistant Paris Economic Development Corporation