04-A PEDC Min 01-25-06
REGULAR MEETING
PARIS ECONOMIC DEVELOPMENT CORPORA liON
BOARD ROOM
WePack Corporate Office
2300 13th SW
PARIS. TEXAS
WEDNESDAY. JANUARY 25. 2006
12:00 O'CLOCK. PM
AGE N 0 A
1) Call meeting to order
2) Approval of minutes from previous meeting [December, 2005]
3) Financial Report [December, 2005]
4) Discussion and action to approve new Tax Abatement Policy
5) Executive session as follows:
In accordance with Sec. 551.074 of the Open Meetings Act, to discuss personnel matters:
Executive Director Evaluation
6) Director's Report
7) Chairman's Report
8) Adjournment
POSTED:
BY:
WITNESS:
.. .... r
Board Minutes for the
Paris Economic Development Corporation
December 7, 2005
4:00 P.M.
Board Members
Present: Dick Severson
Sims Norment
Rodney Bass
Glenn Bawcum
Ex-officio Members
Present: None
Board Members
Absent: Mike Dunn
Staff Present:
Gary Vest
Chad Madding
Others:
Gene Anderson
Sims Norment called the meeting to order at 4:05 p.m.
Minutes of the November, 2005 meeting were approved as presented on a
motion by Dick Severson, second by Rodney Bass.
The financial report was presented for the month ending November 30, 2005.
Gene read the report and all numbers are up from last year. The only question
was raised by Glen Bawcum. He asked about the jump in the advertising budget
from $1,300 last month to $9,220 this month. Gary explained the jump due to a
new computer add on to the web site and a half page ad we are running in a
Dallas magazine. The financial report was approved on a motion by Glenn
Bawcum, second by Rodney Bass.
Gary Vest talked about Project Hurricane and this being a good company to get
in Paris. They will hire 100 to open the doors and another 100 by the next year.
There was a discussion about incentives and giving them a site in our industrial
park. The company is looking for a total incentive package of around 5 million
dollars. The PEDC will be able to give them the land and get utilities to the site,
we will work with the USDA to get a grant for the rail, we will apply for money
from the Governor's Enterprise Fund, fill out the application for Enterprise Zone
rebates, work with the taxing entities to get tax abatements, and
PEDC Minutes
December 7, 2005
Page 2
give the company a 1.5 million dollar grant paid out over 5 years. Gary brought
up that this will extend the PEDC but all felt this would be worth it. Rodney has
talked with the owners and feels that this is a good company with the leadership
to get this project done. Glen Bawcum asked why the company is looking at
Paris; Gary explained that they have close ties with Paris and that the area had
the resources they are looking for. Glen also asked about the quality of the jobs
and the time to open the doors. The jobs will be manufacturing jobs with
incentives and it will take about 18 months to get the company opened. Gary
spoke about the company's past experience with this type of company and about
them selling their last plant.
Rodney asked about the progress on C-Tech and the fact that they will have to
start paying back their loan in June if the incentives are not met. Gary explained
that C- Tech is working with WeBuild on getting their building up in the
industrial park and they are set to start within the next few months. The Project
Hurricane incentive package was approved on a motion by Rodney Bass, second
by Dick Severson.
The board considered a motion to place a PEDC ad in the up coming Lamar
County history book. This was approved on a motion by Glenn Bawcum, second
by Dick Severson.
The new tax abatement policy was handed out to the board for them to review
for next meeting.
There was no chairman's report or director's report.
With no further business to come before the Board, the meeting adjourned at 5:00
p.m. with a motion by Dick Severson and a seconded by Glen Bawcum.
Respectfully submitted,
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Chad Mad ing
Assistant Director
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