1995-05-10-PEDC 122
MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION
May 10, 1995
The Paris Economic Development Corporation met in a regular
meeting on Thursday, May 10, 1995, at 4:00 P.M., in the City
Hall North Annex, Fire Training Room, Paris, Texas. President
Philip Cecil called the meeting to order with the following
boardmembers present: Dick Amis, Curtis Fendley, and Barney
Bray. Also present were ex-officio board members, Bobby
Walters, Bill Vaughan, Ike Jewett, Gary Vest, Economic
Development Director, Michael E. Malone, City Manager and T. K.
Haynes, City Attorney as Counselor.
President Cecil stated that the first item on the agenda was
approval of the minutes from the previous meeting of the Paris
Economic Development Corporation. He asked, if there were any
corrections or additions to the minutes of the previous
meeting, and there being none, the minutes stood approved as
presented.
President Cecil asked Mr. Anderson to give the financial
report. Mr. Anderson gave the report. President Cecil called
for questions and there being none, Boardmember Amis made a
motion which was seconded by Boardmember Barney Bray, to
approve the financial report as presented which carried
unanimously.
President Cecil stated that he did not have a report to give at
this time.
President Cecil asked Mr. Vest to make his report. Mr. Vest
advised that in connection with industrial activity, they had
made eight proposals since the last meeting. He said four of
these were prospects that were referred to us through T.U.
Electric. He said that he had recently attended the American
Economic Development Council Annual Meeting and was elected to
the Board. Mr. Vest gave the boardmembers copies of a
newspaper article relating to the United Nations and the
incentives that are being offered between countries in an
attempt to lure industries.
City Attorney Haynes asked Mr. Vest is there were any items of
interest to the Board pending in the legislature. Mr. Vest
said that there was a bill pending by Senator Haywood which
would allow economic development corporations to meet in
executive sessions to discuss prospect financials and offers.
He said this bill would amend the Open Meetings Act.
President Cecil asked the City Engineer to give the projects
report. Mr. Smith stated he had no progress to report at this
time on the model building project or the improvement to
Industrial Drive.
President Cecil asked Mr. Amis to give his report regarding the
purchase from the Paris Industrial Foundation. Mr. Amis said
they were advised by the appraisal company to rethink that
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particular property due to some problems. He said that he and
Mr. Bray had gone out to the property and he felt it needed
looking at, but it may work out the way they had originally
planned. Mr. Amis said that the Committee will follow through
on this matter and report back to the Board.
-- Mr. Cecil stated that the Annual Meeting is to be held in
June. He said he felt the reason the Annual Meeting was in
June was in order to approve the Budget, and the Program of
Work to give the City Council sufficient time between June and
the year end to consider those items in their budget. He said
the Board needed to develop some items for approval at the June
meeting which would then go to the City Council for final
approval. He said one of those items is the Annual Plan of
Work. He advised that Mr. Vest devgloped this item for
1994/1995, and asked Mr. Vest to update this Program for
1995/1996. Mr. Vest said he would have this information ready
to be voted on at the June meeting.
Mr. Cecil said in connection with the Budget he felt the Annual
Plan of Work and the overall economic development plan for
1995/1996 were the same. After discussion, this was the
consensus of the Board.
Mr. Cecil stated he had spoken with Mr. Anderson, the Finance
Director, regarding the Annual Budget. He said Mr. Anderson
had agreed to work on the Annual Budget and have it available
at the June meeting for approval or amendment. Mr. Cecil said
that the budget would then be approved by the Council sometime
between June and September when it is incorporated into the
City's total budget. Mr. Anderson advised that he would review
any projects that the Board had approved for inclusion in the
budget.
Mr. Vest suggested in preparing an annual budget that you look
at supplies, office supplies, contractual costs, travel and the
type things associated with the Board doing business. He
suggested that we identify these line items and place remaining
revenue into a project fund, using those funds for projects as
they develop, such as the B & W Sewer Line and those types of
things. Mr. Vest also stated that the revenue remaining at the
year end would be rolled into the project fund for the year.
Mr. Cecil asked Mr. Vest and Mr. Anderson to get together on
this item as well.
Mr. Vest stated that the Board operates as a corporation under
the rule of the City Council and the Board's project fund is
money that this Board has the authority to expend for projects
as the Board sees fit. Mr. Vest said that if the Board borrows
money they will have to go to the City Council for approval,
but he thinks once they approve a budget and the Board has a
project fund, then the Board has the authority to spend this
fund for incentives, projects, etc. He said any time the board
exceeds that amount then it will have to go to the Council.
After discussion, this was the consensus of the boardmembers.
City Manager Malone advised that it was appropriate for the
Board and the Council to work closely with the other entities,
and if we are all of one mind everything will proceed
satisfactorily. President Cecil asked Mr. Vest. and Mr.
Anderson to work together as to how the budget should be
formulated and bring the budget back to the board at the next
meeting.
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City Attorney Haynes advised that the June meeting would be the
annual meeting of the Board of Directors and at this meeting
officers would be elected, the annual work plan considered and
acted upon, and such business as would properly come before the
meeting would be transacted, including the adoption of the next
year's proposed budget.
President Cecil asked if there was any other business and there
being none he declared the board meeting adjourned.
PRESIDENT PHILIP.CECIL
ATTEST:
ASSISTANT CITY CLERK, BARBARA DENNY