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06/13/2025 MinutesEXAS � O' MIC IDEVEILOPM t C � I� OR STI 11, f„ x at," -its Reach f rl, igf"'j er PARIS ECONOMIC DEVELOPMENT CORPORATION MONTHLY MEETING AND BOARD PLANNING SESSION The Depot Community Room Paris Economic Development Corporation 1125 Bonham St. Paris, Texas 75460 Friday, June 13, 2025 11:30 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 rnii to ilrelar Staff Present: Maureen Hammond, Executive Director Adam Cawthon, Executive Assistant Sarah Moore, Project Coordinator Ex -Officio Members Present: Mihir Pankaj, Mayor Legal Council: Casey Gain, PEDCAttorney Chairman Josh Bray called the monthly meeting and board planning session of the Paris Economic Development Corporation to order at 11:30 a.m. on Friday, June 13, 2025. Welcome and Opening Remarks Chairman Bray opened by thanking exiting board member Stephen Terrell for his service to the PEDC board and commended Mr. Terrell on his branding and marketing expertise provided. Mr. Bray opened the floor to Ms. Hammond to provide remarks and present Mr. Terrell with a commemorative plaque to honor his five years of service. Ms. Hammond noted that Mr. Terrell -'s involvement with the PEDC board has had a lasting impact on herself, the organization, and the greater Lamar County community. Page 1 of 5 EXAS � O' MIC IDEVEILOPM t C � I� OR STI rip ra 115 r r :rr i r Reach rac 1 i 11 l'y'.jl°„ Citizens' Input Chairman Bray invited those present to speak during the Citizens' Input. No one came forward, and Chairman Bray closed citizens' input. Mr. Bray took a motion to move agenda item 6, Review, Discuss and Action on the 2023-2025 Economic Development Plan of Work, to the next agenda item for discussion. Dr. Hashmi made a motion to adjust the agenda as noted. Mr. Roddy seconded the motion. Vote 7 -ayes to 0 -nays Review, Discuss and Action on the 2023-2025 Economic Development Plan of Work Ms. Hammond reminded the board that the PEDC's bylaws require a Plan of Work to be submitted to the Paris City Council on an annual basis. She noted that this discussion was intended to guide any needed revisions to the plan, and that the board would be asked to vote on an updated Plan of Work during the monthly meeting in July, which, upon approval, would be submitted to City Council alongside the PEDC's annual budget. She provided a brief overview of the PEDC's Plan of Work accomplishments spanning the last five 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: • Began roundtable discussions with existing industries to explore workforce issues and partnerships with Paris Junior College • 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 • Acquired 200 -acre site on Loop 286 with potential for rail • Developed and implemented a new social media marketing strategy • Secured $1.3 million in federal funding through the Economic Development Administration • Supported 14 project announcements representing: o Retention of 540 jobs o the creation of 1,295 new jobs o $493.5 million in capital investment to Paris and Lamar County o Total jobs supported = 1,865 Hammond expressed her gratitude to the Board for their ongoing support, dedication, and commitment of time to both her and the organization. Mr. Bray opened the floor to questions regarding the 2023-2025 Economic Development Plan of Work. A brief discussion ensued regarding target industries. There were no further questions. Page 2of5 EXAS � O' MIC IDEVEILOPM t C � I� OR STI rip ra 115 r r :rr i r Reach rac 1 i 11 l'y'.jl°„ Discuss and Consider Approval of May 20, 2025, Meeting Minutes Chairman Bray presented the May 20, 2025, meeting minutes for review and discussion. Dr. Hashmi made a motion to approve the minutes as presented. Mr. Roddy seconded the motion. Vote 7 -ayes to 0 -nays Review and Discuss 2025-2026 Draft Budgets Mr. Coleman presented the proposed 2025-2026 PEDC Budgets. Proposed revenue included $1.9 million in sales tax and $75,000 in interest income. He reported a total estimated income of $1,975,000. Mr. Coleman continued by reporting on expenses. Most budget expenses remained the same or had slight increases or decreases. Total proposed budget expenses for 2025-2026 were reported at $1,836,507.00 in comparison to last year's budgeted amount of $3,365,095.00. Mr. Coleman noted that the decrease was primarily due to an adjustment to incentive obligations for Project Blue Fire. Mr. Coleman opened the floor to questions regarding the 2025-2026 Draft Budgets. There were no questions. Review, Discuss and Potential Action on land and Buildings Ms. Hammond briefly outlined the opportunities involving the PEDC's land inventory, noting that site readiness of newly acquired land continues to be a priority. She reported that requests for information from potential prospects continue to include a desire for existing buildings, ranging in size from 50,000 to 500,000 square feet. Mr. Bray opened the floor to questions regarding land and buildings. There were no questions. PEDC Board Member Roundtable and Discussion Chairman Bray opened discussions by noting that with the PEDC's proposed adjusted budget for 2025- 2026, the board would need to consider its priorities moving into the next fiscal year. Mr. Fendley commented that a priority should be the procurement of additional land, as well as the consideration of constructing a speculative building for future prospects. Mr. Homer commented that the rising costs of land could impact the PEDC's options for procurement, and that the organization should consider any opportunity to acquire property at lower costs. Mr. Bray asked the board if there was a preference between shovel -ready land and the construction of a spec building. Ms. Hammond suggested the option of having a virtual spec building designed, which could be submitted alongside proposals. Dr. Hashmi commented on the benefits of both land procurement and the construction of a spec building. He suggested that with the increasing costs to land, the acquisition of property should take priority moving forward. Mr. Bray suggested that the PEDC research the construction of a 25,000 to 50,000 square foot spec building to consider its costs and benefits. Page 3 of 5 EXAS � O' MIC IDEVEILOPM t C � I� OR STI 11, f„ x at," -its Reach f rl, igf"'j er Mr. Bray continued with a point of discussion involving alternative locations for the PEDC office. He noted that in previous discussions with the City, City staff have mentioned the possibility of selling the Depot building where the PEDC is currently headquartered. Mr. Roddy suggested the consideration of a joint office with the Small Business Development Center. Discussion ensued regarding collocating resources with the PEDC to support small business and entrepreneurial development. Chairman Bray suggested the formation of a committee to discuss these options further following the appointment of a new board member. Dr. Hashmi continued with a point of discussion regarding the PEDC's status as a Type A Economic Development Corporation, which primarily focuses on industrial development and infrastructure, and the consideration of additionally implementing a Type B EDC, which would have a focus on quality of life improvements for Paris and Lamar County. Mr. Bray commented that he was unsure if the addition of Type B status would require a separate Board of Directors. Ms. Hammond clarified, stating that the PEDC could function with Type A and Type B status and funding would be allocated for each division independently. Mr. Bray suggested the scheduling of a joint meeting with City Council to discuss the benefits of implementing a Type B EDC and options on the allocation of sales tax funding. Mr. Terrell recommended that the PEDC remain targeting trailer manufacturing and food manufacturing due to the existing strength and supply chains of these industries. He suggested attracting the suppliers of these industries as potential targets. A discussion ensued regarding direct marketing approaches. Mr. Bray opened the floor to additional comments regarding the future direction of the PEDC. Mr. Roddy emphasized the importance of targeting trailer manufacturing as a viable growth opportunity for Paris. Mr. Fendley suggested that the PEDC consider alternative sources for funding. Ms. Hammond noted the limitations of secondary funding sources and provided the example of entering into interlocal agreements as a potential source for future funding. Mr. Homer echoed Mr. Fendley's sentiment, suggesting that the board pursue establishing a Type B EDC as an additional source of funding. He further noted that continuing to maintain open conversation with the City of Paris could yield future opportunities through the reallocation of finances. Ms. Hammond emphasized the success of the PEDC during the past five years, noting the collaboration between the PEDC, City Council, Lamar County, and Chamber of Commerce to be paramount in this success. Mr. Homer continued by referencing Mr. Terrell's point on targeted attraction, noting that the PEDC should focus its efforts on marketing to industries that manufacture in the United States. He continued by commenting on past discussions involving land, noting the need for land procurement to be a priority. Mr. Bray closed roundtable discussions by expressing his appreciation of the board's willingness to continue conversation and commended Ms. Hammond on her continued support of economic development during the last five years. Discuss Future Agenda Items Chairman Bray opened the floor to discuss future agenda items. No items were brought forward for discussion. Page 4 of 5 EXAS � O' MIC IDEVEILOPM t C � I� OR STI 11, f„ x at," -its Reach f rl, igf"'j er Adjourn Chairman Bray declared the meeting adjourned. The meeting was adjourned at 12:57 p.m. Respectfully submitted, Adam Cawthon Executive Assistant Paris Economic Development Corporation Page 5 of 5