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1998-02-17-PEDC 309 MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION SPECIAL MEETING February 17, 1998 The Paris Economic DeVelopment Corporation met in a special meeting on Tuesday, -- February 17, 1998, at 8:00 A.M., in the City Hall North Annex, Meeting Room, Paris, Texas. President Curtis Fendley called the meeting to order with the following boardmembers present: Dick Amis, Michael Rhodes, Leon Williams and Barney Bray. Also present at this meeting were ex-officio boardmembers, Sims Norment, Executive Director Gary Vest, Michael Malone, City Manager, and City Attorney T. K. Haynes. President Fendley 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 were none. President Fendley stated since there were no corrections or additions to these minutes they stood approved as presented. President Fendley asked Mr. Gene Anderson, Director of Finance, to give the financial report. Mr. Anderson gave the January report. Mr. Fendley called for questions and there were none. Boardmember Michael Rhodes made a motion, seconded by Boardmember Dick Amis that the report be approved as presented. The motion carried unanimously. President Fendley stated that there would not be a President's Report given at this time. -- President Fendley asked Mr. Vest to make his report. Mr. Vest discussed the responses received since the last meeting, and the economic model that will be used in the future on the computer. Mr. Vest distributed copies of a handout from T.N.R.C.C. pertaining to air permit attainment status. Mr. Vest said that currently Paris has 100% attainment status and the Dallas-Ft. Worth Area has a non-attainment status. Mr. Vest said according to the T.N.R.C.C. proposal Lamar County would be included in the Dallas-Ft. Worth non-attainment area. He said that this is very important and we need to see if there is any way that this proposal can be stopped. After discussion among the boardmembers, President Fendley appointed a committee consisting of Barney Bray and Michael Rhodes to work with Mr. Vest on this proposal. 310 President Fendley stated that the next item on the agenda was consideration of a resolution authorizing the execution of an Incentive Agreement with We Pack Logistics, Inc., and he asked Mr. Vest to discuss this item. Mr. Vest said that this item concerned We Pack expansion and that they are going to purchase the thirty-eight acres in the Southwest Industrial Park owned by P.E.D.C. Mr. Vest said that we are working with the City in acquisition of the railroad right-of-way bisecting the property. He said that Mr. Harper will begin construction of his first project consisting of a 100,000 sq. ft. building and the addition of 38 to 78 employees. Mr. Vest stated that Mr. Harper has requested P.E.D.C. to help him with the pavement of three-tenths of a mile on 7th Street S.W. He stated that this resolution deals with P.E.D.C. paving a 28 ft. street with curb and gutter three-tenths of a mile (approximately 1,400 ft.) and selling Mr. Harper the property owned by P.E.D.C. President Fendley called for questions or comments concerning this agenda item. Boardmember Bray stated that he needed clarification concerning the 50 ft. easement. Mr. Vest stated that the demand on the road at the present time does not merit a 48 ft. street called for in the Master Plan, so they are proposing to put in half of a boulevard on the existing right-of-way which would be 28 ft. and when traffic demands and as other users move into that area and the street size needs to be increased then we would come back and put another 28 ft. Boardmember Bray stated that the language in item #3 needs be clarified. Mr. Bray stated that he thought a water line was on the west side of the road, and we would not have to relocate that water line if we took all the easement off one side of the property. Mr. Bray said if we are going to pay for the road then consideration should be given to the fact that we should not have to lay a new water line. After discussion by boardmembers, it was their consensus that some qualifying language be added to item #3 stating that they wanted the maximum of fifty (50) ft. in width deleted from item #3 and to accommodate existing utilities that are already in place. It was the consensus of the boardmembers that this project would be conducted as the Soup Street Project with the plans being drawn up and sent out for the bid process. It was also the consensus of the boardmembers that this street project should be an industrial type street. City Attorney T.K. Haynes read the resolution. Resolution No. 98-002, authorizing the execution of an Incentive Agreement with We Pack Logistics, Inc. PARIS ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO..98-002 WHEREAS, the Paris Economic Development Corporation is a non-profit corporation governed by the Development Corporation Act of 1979 (the Act) and was established for the purposes of promoting, assisting, and enhancing economic development; and, WHEREAS, the means and measures authorized by the Act and the assistance provided therein with respect to financing are found to be in the public interest and serve a public purpose of the state in promoting the welfare of the citizens of the state economically by the securing and retaining of business enterprises and the resulting maintenance of a higher level of employment, economic activity, and stability; and, 311 WHEREAS, in keeping with the purposes for which the legislature enacted the Development Corporation Act of 1979 and the purposes for which the voters of the City of Paris established the Paris Economic Development Corporation, it is deemed appropriate that an incentive agreement be entered into with H-W Commercial Warehouse, Inc. and H-W Investments; and, WHEREAS, the form of the Incentive Agreement, attached hereto as Exhibit A, should, in all things, be approved, and the President, Curtis Fendley, should be authorized to execute the same; NOW, THEREFORE, BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT CORPORATION, that the form of the Incentive Agreement with H-W Commercial Warehouse, Inc. and H-W Investments, attached hereto as Exhibit, be, and the same is hereby, approved; and, BE IT FURTHER RESOLVED, that the President, Curtis Fendley, be, and he is hereby, authorized and directed to execute, on behalf of the Paris Economic Development Corporation, the Incentive Agreement, under the terms and conditions and in the form shown in Exhibit A, attached hereto. PASSED AND ADOPTED this 17th day of February, 1998. Curtis Fendley, President ATTEST: Richard M. Amis, Secretary-Treasurer APPROVED AS TO FORM: T. K. Haynes, city Attorney INCENTIVE AGREEMENT STATE OF TEXAS ) ) KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LAMAR ) THAT, the PARIS ECONOMIC DEVELOPMENT CORPORATION, a Texas __ corporation, acting by and through its President, Curtis Fendley, duly authorized, hereinafter called PEDC; H-W COMMERCIAL WAREHOUSE, INC., a Texas corporation, acting by and through its President, W. W. Harper, duly authorized, hereinafter called H-W COMMERCIAL; and H-W INVESTMENTS, a partnership, acting by and through its general partner, W. W. Harper, duly authorized, hereinafter called H-W INVESTMENTS, do hereby contract and agree as follows: 312 1. That PEDC agrees to sell and H-W COMMERCIAL agrees to purchase the following described property, to-wit: All that certain property in the James Bourland Survey No. 69, and being a part of the Southwest Industrial Park No. 1, a plat of which is attached hereto as Exhibit A and described as follows: Being Lots 1-B and 2-B shown on said Exhibit A attached hereto and the southern portion of Tract 3-B described as follows: BEGINNING at the southwest corner, of Tract 3-B; THENCE North with its West Boundary Line a distance of 239 feet, a stake; THENCE in an easterly direction parallel with the North Boundary Line of Tract 3-B a distance of 1,200 feet to a stake in the East Boundary Line of Tract 3-B; THENCE South with the East Boundary Line of Tract 3-B a distance of 155 feet, a stake in the southeast corner of Tract 3-B; THENCE West with the South Boundary Line of Tract 3-B a distance of 1,201 feet to the place of beginning. along with the railroad right-of-way shown on Exhibit B, attached hereto, which runs through said property, for $50,000.00 cash, to be paid at the time of closing at Stone Title 1 EXHIBIT A Company in Paris, Lamar County, Texas, with H-W COMMERCIAL receiving possession of the property on the date of closing. 2. That PEDC shall, at its own expense, refurbish 7th Street S.W. as a concrete road from the private industrial driveway serving 2510 S. Church Street south to Loop 286, with such construction to be completed on or before September 30, 1998, weather permitting. 3. That H-W INVESTMENTS agrees to donate sufficient right-of-way necessary so as to accommodate existing utilities for the eventual construction of a boulevard with two (2) wearing surfaces of twenty-eight (28) feet each, for the expansion of 7th Street S.W. from the private industrial driveway serving 2510 S. Church Street south to Loop 286. 4. The sale herein described is to be closed on or before February 17, 1998, at Stone Title Company, Paris, Lamar County, Texas, or as otherwise herein provided. In the event the PEDC is unable to acquire the aforementioned railroad right-of-way by the date of closing, PEDC and H-W COMMERCIAL agree that the transaction will be closed into escrow on that date, with such sale then being closed as soon as possible after the PEDC has acquired said railroad right-of-way. 313 5. All notices provided for herein shall be by first class mail, via the United States Postal Service, to the following address: Paris Economic Development Corporation Curtis Fendley, President 135 1st Street S. E. P. O. Box 9037 Paris, TX 75461-9037 We Pack Logistics, Inc. William R. Gibson, Vice President 2510 S. Church Street Paris, TX 75460 2 EXECUTED this 17th day of February, 1998. PARIS ECONOMIC DEVELOPMENT CORPORATION By: Curtis Fendley, President -- ATTEST: Richard M. Amis, Secretary-Treasurer APPROVED AS TO FORM: T. K. Haynes, City Attorney H-W COMMERCIAL WAREHOUSE, INC. By: W. W. Harper, President ATTEST: Susan Harper, Secretary H-W INVESTMENTS By: W. W. Harper, General Partner 314 SOUTHWEST INDUSTRIAL PARK PARIS, TEXAS EXHIBIT A 315 SOUTHWEST INDUSTRIAL PARK PARIS, TEXAS EXHIBIT B 316 Boardmember Dick Amis, made a motion, seconded by Boardmember Barney Bray that this resolution be adopted, and the Board voted unanimously to adopt the resolution. President Fendley asked if there was any other business and there being none he declared the board meeting adjorned. President, Curtis Fendley ATTEST: Assistant City Clerk, Barbara Denny