1996-01-10-PEDC
MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION
REGULAR MEETING
January 10, 1996
The Paris Economic Development Corporation met in a regular
meeting on Wednesday, January 10, 1996, 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,
Leon Williams and Barney Bray. Also present were ex-officio
boardmerabers, Judge Chuck Superville, Bobby Ray Walters, Dr.
Marshall Dougherty, and City Attorney T. K. Haynes.
President Cecil stated that the next 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. Gene Anderson, Director of Finance,
to give the financial report. Mr. Anderson gave the report.
President Cecil called for questions and there were none.
Boardmeraber Amis made a motion, seconded by Boardmeraber Fendley
that the report be approved as presented. The motion carried
unanimously.
President Cecil stated that he had no report to give at this
time..
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President Cecil asked Mr. Vest to make his report. Mr. Vest
advised that due to advertising they had received eleven
inquiries since the last meeting. He said he had met with
several individuals at the Texas Department of Commerce in
Austin since the Board's last meeting.
Mr. Vest said that at the last meeting he had discussed the
abandonment of the Texas Northeastern Railroad and he said that
the railroad has filed a "Ninety Day Public Use" filing where
comments can be made concerning the public use of the railroad
beginning on January 11, 1996. He said we have ninety days to
make comments as to our proposed action. Mr. Vest said there
is a State of Texas Rail Abandonment Committee that we will
have to deal with in the next ninety days. Mr. Vest said that
Railtex owns the tracks with a salvage value of $28,700.00 per
mile for the rails. He said that the Union Pacific owns the
land and they have not priced the land. He said if we want to
maintain the right-of-way we are going to have to buy the land
from Union Pacific. Mr. Vest said to replace rail the present
cost is $50.00 per foot and we are talking about approximately
four to five miles. Mr. Vest said from the railroad's
perspective if we are going to retain it, then we are going to
have to buy it.
President Cecil stated for clarification that the instructions
to Mr. Vest were to find out all the information available in
order to determine the Board's options in relation to the
railroad abandonment and he should report his findings and
options back to 'the Board at the next meeting in order for the
Board ko take some type action at the correct time.
President Cecil asked City Engineer Earl Smith to give his
report. City Engineer Smith said that he had made a video the
day before showing the BITCO site and how it was progressing.
President Cecil asked if there were any problems that the Board
needed to be made aware of, and Mr. Smith said that everything
was going real well at this time.
President Cecil asked Mr. Amis to give his report regarding the
purchase from the Paris Industrial Foundation. Mr. Amis said
that they had completed this purchase from the Foundation.
President Cecil asked Mr. Vest to comment on the next agenda
item regarding the Board acting as the sponsoring agent fcr the
North East Texas Economic Development District's application
for a grant from the Economic Development Administration to
fund its Revolving Loan Fund. Mr. Vest said that this
resolution names this Board as the sponsoring entity that
allows the North East Texas Economic Development District to
make application for a $500,000.00 grant from the Eccnomic
Development Administration. He said this is the same program
that we used for the BITCO Project where we put up twenty-five
percent. He said we are the sponsoring local match for this
program.
President Cecil called for questions from the .Board and there
were none.
Resolution No. 96-001-authorizing the Paris Eccnomic
Development Corporation to act as the sponsoring agent for the
North East Texas Economic Development District's application
for a grant from the Economic Development Administration to
fund its Revolving Loan Fund.
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PARIS ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO. 96-001
WHEREAS, the North East Texas Economic Development District includes areas
which have been designated as Long Term Economically Distressed (LTED) by the Federal
Economic Development Administration; and,
WHEREAS, the North East Texas Econoimic Development District, because of
such LTED designations, is eligible to apply for an Economic Development Administration
Title IX Revolving Loan Fund Grant under the provisions of the Public Works and
Economic Development Act of 1965, as amended; and,
WHEREAS, the Revolving Loan Fund Grant in the amount of $500,000.00 would
require a local match in the amount of $167,000.00; and,
WHEREAS, these funds can only be used in these LTED designated areas for the
purpose of providing financing for economic development incentives; and,
· WHEREAS, the Paris Economic Development Corporation has interest in and is
located within an LTED designated area; recognizes the advantages of having access to a
Revolving Loan Fund Program; and desires that these funds are made available to the
North -East Texas Economic Development District's LTED designated areas; and,
WHEREAS, the North -East Texas Economic'Development District will serve as
the applicant agency to receive and administer such funds; and,
WHEREAS, the Paris Economic Development Corporation has funds which can
be used, as needed, up to the amount of $167,000.00 for the purpose of satisfying the local
match requirements; NOW, THEREFORE,
BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT
CORPORATION, that the Economic Development Administration approves the North
East Texas Economic Development Districts Revolving Loan Fund Grant Application;
other LTED areas will be given the opportunity and encouraged to participate as needed
in the local match responsibilities; and that tbe Paris Economic Development Corporation
reserves the right to periodically review and evaluate any changes in program guidelines
which might affect the Paris Economic Development Corporation's commitment,
BE IT FURTHER RESOLVED, that the Paris Economic Development
Corporation commits, as needed, up to $167,000.00 for local matching funds for the
Revolving Loan Fund Program Grant.
PASSED AND ADOPTED on this the 10th day of January, 1996.
Philip R. Cecil, President
ATTEST:
Richard M. Amis, Secretary-Treasurer
APRROVED AS TO FORM:
T. K. Haynes, City Attorney
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Boardmember Fendley made a motion, seconded by Boardmember Bray
to adopt the resolution which carried unanimously and the
resolution was adopted.
City Attorney Haynes reported that an open records request was
received from a law firm in Houston regarding information
concerning BITCO and all of the information subject to the
request was furnished.
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