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07/12/2024 MinutesS1" IE X A 5 r' IW;;dr"hW�&r'S Nw&OiY,: Ih„4 VGtt4.,OIpmi W'r*:'.N:"unPOP V'"ON PARIS ECONOMIC DEVELOPMENT CORPORATION BOARD PLANNING SESSION Paris City Council Chambers 107 East Kaufman St. Paris, Texas 75460 Friday, July 12, 2024 11:00 A. M. MINUTES Board Members Present: Josh Bray, Chairman Curtis Fendley, Vice Chairman Chase Coleman, Secretary/Treasurer Dr A.J. Hashmi Stephen Terrell Erik Roddy Mark Homer Ex -Officio Members Present: Mihir Pankaj, Mayor Legal Council: Casey Gain, PEDCAttorney Staff Present: Maureen Hammond, Executive Director Adam Cawthon, Executive Assistant Jenna Thurman, Research Assistant Guest(s) Present: Robert Vine, Interim City Manager Doug Harris, Assistant City Manager Shatara Moore, Council Member Alix Putnam, Council Member Rudy Kessel, Council Member Call to Order Chairman Josh Bray called the board planning session of the Paris Economic Development Corporation to order at 11:00 a.m. on Friday, July 12, 2024. Welcome and Opening Remarks Chairman Bray opened by expressing appreciation to everyone in attendance, including City Council and Staff. Page 1 of 5 S'T IE X A 5 'E wI..d1PMi N't' *:'.N:" nPOPA t'"ON Citizens' Input Chairman Bray invited those present to speak during the Citizens' Input. No one came forward, and Chairman Bray closed citizens' input. Discuss and Action on 2024-2025 PEDC Budgets Mr. Coleman presented the proposed 2024-2025 PEDC Budgets. Proposed revenue included $1.8 million in sales tax and $150,000 in interest income. He reported a total estimated income of $1,950,000. Mr. Coleman continued by reporting on expenses. Most budget expenses remained the same or had slight increases or decreases. Total proposed budget expenses for 2024-2025 were reported at $3,365,095.00 in comparison to last year's budgeted amount of $2,254,208.64. Mr. Coleman noted that the increase was primarily due to the addition of incentive obligations for Project Blue Fire. Mr. Roddy made a motion to approve the proposed 2024-2025 Budgets. Mr. Terrell seconded the motion. Vote: 7 -ayes to 0 -nays Discuss and Action on 2023-2025 PEDC Plan of Work Ms. Hammond Reported on the 2023-2025 PEDC Plan of Work. Mr. Homer made a motion to approve the 2023-2025 Plan of Work. Mr. Fendley seconded the motion. Vote: 7 -ayes to 0 -nays Discussion on Open Meetings and Records Protocol by City Attorney Stephanie Harris, City of Paris Ms. Harris was unable to attend the meeting. Discussion on Open Meeting and Records Protocol was tabled for a later date. Overview of Plan of Work Accomplishments 2020 — 2024 by Executive Director Maureen Hammond Ms. Hammond provided a presentation and review of the PEDC's Plan of Work accomplishments spanning the last four years. This presentation included a list of initiatives encompassing the retention and growth of jobs in Lamar County, the attraction of new employers and industry, the cultivation of an entrepreneurial ecosystem, support of workforce development programs, expansion of the community's land and building assets, the encouragement of a unified vision for the City of Paris, Lamar County, and the PEDC, and the exploration of additional internal and external funding mechanisms. Key highlights included the following: • Launched a new unified joint brand in partnership with the City and Chamber of Commerce • Established a formal site visitation program in partnership with PJC and surveyed employers representing 4,300 employees • Developed and launched a new website • Acquired 123 -site on Loop 286 for non -rail users Page 2 of 5 S'T IE X A 5 'E wI..d1PMi N'V' *:'.N:" nPOPA V'"ON • Acquired 200 -acre site on Loop 286 with potential for rail • Rezoned and performed Phase I environmentals on all properties • Developed and implemented a new social media marketing strategy • Developed and implemented quarterly newsletters • Secured $1.3 million in federal funding through the Economic Development Administration • Partnered with the City to get 12 -inch waterlines to both industrial parks • Supported 13 project announcements representing: o Retention of 585 jobs o the creation of 835 new jobs o $423 million in capital investment to Paris and Lamar County o Total jobs supported = 1,410 Hammond expressed her gratitude to the Board for their ongoing support, dedication, and commitment of time to both her and the organization. Discussion and Possible Action on Financial Position and Forecasting by Secretary/Treasurer Coleman Mr. Coleman presented the financial position and forecasting of the PEDC. Following his presentation, Mr. Coleman provided commentary, stating that over the past four years, the organization has achieved significant milestones, including the announcement of 13 projects, land acquisitions, and expenditures to prepare properties to be site ready. However, these efforts, combined with Project Blue Fire, will place considerable strain on cash flow for the next five to seven years. This limited cash availability will greatly impede the organization's ability to actively pursue new projects, make land acquisitions, and implement capital improvements within its existing industrial parks. Overview, Discussion and Possible Action on Land and Buildings including but not limited to: Ms. Hammond presented an overview of the PEDC land inventory and noted the following challenges: 20 -acre site on West Campbell St • A large amount of clearing is necessary. The water main serving the site is 6 inches and may not be suitable for industries with high water demand. • The land is adjacent to a residential area. 40 -acre site at NW Industrial Park • A minor floodplain running through the center of the property could restrict development. • A flood study is needed for the site. 115 -acre site at Gene Stallings Business Park • No onsite sewer is available. • Rehabilitation and construction of a new rail system is required. Page 3 of 5 S'T IE X A 5 'E wI..d1PMi N'V' *:'.N:" nPOPA V'"ON 200 -acre site at SW Industrial Park • No onsite sewer is available. • Rehabilitation and construction of a new rail system is required. • An existing blue -line stream flows north to south through the property. The property is not considered a FEMA floodplain; however, the property is a USACE jurisdiction for wetlands and waters. A USACE permit is achievable for certain uses. 123 -acre site on SE Loop 286 • Nearest water line is a 6 inch line northwest of the site. The nearest 10 inch water line is east of the property, at the intersection of Loop 286 and Collegiate Drive. • No onsite sewer is available. • Timeframe for the implementation by TxDOT of a 4 -lane expansion to Loop 286 South is potentially 10 or more years. • Initial utility costs for water and sewage are expected to be significant. PEDC Board Member Roundtable and Discussion Ms. Hammond continued with a point of discussion involving the challenges of Cox Field Airport. She noted that while the most valuable asset of the airport is the availability of land, its lack of infrastructure continues to be a challenge. Ms. Hammond provided an example, stating that the PEDC was unable to submit on a recent request for information due to the lack of infrastructure and length of its primary runway. She further explained that the timeframe to secure approval from the FAA to proceed with infrastructure improvements is approximately three years. Mr. Bray reiterated Hammond's remarks stating that infrastructure improvements and FAA approval is a critical need in preparing the land for potential industries. Mr. Homer asked a question regarding the steps needed to begin the approval process. Mr. Vine provided response, stating that a master plan to extend the runway would need to be drafted prior to the submittal for FAA approval. Mr. Roddy provided commentary, noting that infrastructure improvements to the property should be the primary focus. Mr. Roddy asked a question regarding the ability to connect water lines to the City of Reno's water supply. Mr. Harris provided response, explaining that water lines connected to the Lamar County Water Supply currently surround the property. Dr. Hashmi continued with another point of discussion involving the percentage of sales tax revenue the PEDC receives. He noted that an additional quarter cent of sales tax revenue would allow the PEDC to continue its core mission and allow for improvements for potential industries, in light of the organization's current financial constraints. Mr. Fendley added that it could also be designated to acquiring land either by the City or PEDC for industrial use or be allocated to the prioritization of PEDC industrial projects and improvements. Mr. Bray added that improvements to the highways and signage leading into the city of Paris are also needed to increase the city's appeal to potential industries. Mr. Bray asked Mr. Pankaj to facilitate a discussion with the Paris City Council about the potential reallocation of tax dollars and to reconvene with the PEDC Board at a later date. In response, Mr. Pankaj agreed to begin discussions with the council and coordinate a joint meeting. Page 4 of 5 ST' IE X A 5 'E wI..d11UpmI N'V' *:'.N:" nPOPA V'"ON Mr. Bray opened the floor to discussion regarding the future direction of the PEDC. Mr. Bray noted that as lead generation slows and cash flow becomes tighter, the PEDC may want to broaden its focus to include areas such as entrepreneurship. Mr. Homer emphasized that prioritizing the retention and expansion of existing industries should remain a key goal for the PEDC. Mr. Fendley echoed Mr. Homer's sentiment, reinforcing the importance of business retention and expansion efforts. Mr. Roddy suggested that the PEDC's focus could be expanded to a more regional approach to attract a bigger workforce. Mr. Terrell mentioned that constructing a speculative building and a new PEDC office could help attract investors to the area. He also proposed that the PEDC consider marketing beyond Lamar County, highlighting that a broader outreach could bring in additional talent and industry. Furthermore, Mr. Terrell pointed out that the City of Paris and Lamar County could enhance the overall appeal of the city's entrances, citing the importance of regularly maintaining traffic medians as an example. Mr. Coleman stressed the necessity for improved infrastructure on PEDC properties in anticipation of future economic growth. Lastly, Dr. Hashmi referred back to points he made in earlier discussions. Ms. Hammond thanked all in attendance for their input and expressed her excitement for the upcoming year. Mr. Bray closed roundtable discussions by thanking Ms. Hammond for her continued support of economic development during the last four years. Adjourn Chairman Bray declared the meeting adjourned. The meeting was adjourned at 1:24 p.m. Respectfully submitted, Adam Cawthon Executive Assistant Paris Economic Development Corporation Page 5 of 5