03-A PEDC Min 02-15-06
REGULAR MEETING
PARIS ECONOMIC DEVELOPMENT CORPORATION
COMMUNITY ROOM
LAMAR COUNTY CHAMBER OF COMMERCE
1125 BONHAM
PARIS, TEXAS
WEDNESDAY, FEBUARY 15, 2006
4:00 O'CLOCK, PM
AGE N D A
1) Call meeting to order
2) Approval of minutes from previous meeting [January, 2006]
3) Financial Report [January, 2006]
4) Director's Report
5) Chairman's Report
6) Adjournment
POSTED: FRIDAY. FEBUARY 10.2006. 11:00 A.M.. CITY HALL BULLETIN BOARD.
BY:
WITNESS:
Board Minutes for the
Paris Economic Development Corporation
January 18, 2006
4:00 P.M.
Board Members
Present: Dick Severson
Sims Norment
Rodney Bass
Glenn Bawcum
Mike Dunn
Ex-officio Members
Present: Brady Fisher
Judge Superville
Curtis Findley
Tony Williams
Board Members
Absent: None
Guest: Chip Harper
David Owens
Christy Wendell
Staff Present:
Gary Vest
Chad Madding
Sims Norment called the meeting to order at 12:00 p.m.
Minutes of the December, 2005 meeting were approved as presented on a motion
by Mike Dunn, second by Rodney Bass.
The financial report was presented for the month ending December 31,2005.
Gary Vest read the report and all numbers are up from last year. A preliminary
draft of the PEDC Audit for the 2004-2005 year was handed out. The financial
report was approved on a motion by, Dick Severson second by Glenn Bawcum.
Sims Norment introduced the new tax abatement policy and Gary and Tony
Williams talked about the process the tax abatement committee went through to
draw up and adopt the final draft. The new policy was adopted on a motion by
Glen Bawcum, with a second by Mike Dunn.
The board went in to Executive Session to discuss personnel matters.
Performance Evaluations were handed out to the board and Sims Norment will
collect the evaluations and report back to the board with his findings and
directives.
PEDC Minutes
January 18,2006
Page 2
Gary Vest gave his director's report. Project Hurricane is going well. The PEDC
will try to set up a meeting with the company on Friday to finalize the Texas
Enterprise Fund Application. Alexandra, LA is the only other city the company is
considering. Pike Burkhart is working with United Technology who needs a
70'x70' warm weather testing pad for their compressors. The pad needs 200'
clearance in all directions and the company will need a small storage shed for
some testing equipment. Gary and the board discussed assisting in supplying a
site as a means of good will and for opening opportunities for further
development. P.J. Trailers will be adding 200,000 S.P. to there existing facility to
start building enclosed trailers with a new composites and plastic. Mel will be
meeting with The North Texas Regional Center for Innovation and
Commercialization (RCIC) to apply for funding for this operation. Christine
Grubbs from the RCIC will be here next week to meet with them about the
application process. Gary went with Kimberly Clark to Austin to meet with
Economic Development Office in regards to their Enterprise Project application.
The staff met with TXU in Dallas on January 4th to talk about Paris and current
projects. On January 17th Gary and the NETEA went to Austin to meet with the
Staubach Group, the Texas Workforce Board and the Governor's Economic
Development & Tourism office to present a program on the benefits of locating
in the Northeast Texas area. Gary and Chad attended the winter meeting of the
Texas Economic Development Council. Gary also discussed using PEDC
adverting money to help the city in placing entryway signs in Paris.
There was no chairman's report.
With no further business to come before the Board, the meeting adjourned at 1:10
p.m. with a motion by Dick Severson and a seconded by Glen Bawcum.
~~/
Chad Madding C//
Assistant Director
glpsrev
CATHY
Fund:
2 Economic Development Pund
Account
Description
02-7111-00-00 Bconomie Dev.l~ent Sa1.. Tax
Bub~t.l.
02~7650-00_00 Inter.at Barned
8abt:ot:alt
02-8351-00-00 Loan Payment Pari. Packaging
Subt:o'tal t
prograa number:
Department number: Revenue.
Fund number: 2 Economic Development Pund
CUrrent
Honth
Collected
76,474.78
7i;.i7i:'7i
"'3si':'ii
m:"ii
rr:ooo:oo
rr:ooo:oo
108,828.74
108.828.74
108.828.74
City of Paris
Revenue Report
Period Ending: 01/2006
Current Year Curren t Budget
Year Percent Year Balance
Collected COllected Budget
335,257.10 34.563 970,000.00 634.742.90
335,257.10 34.563 970,000.00 634,742.90
12,506.82 250.136 5,000.00 7.506.82-
12,508.82 250.138 5,000.00 7,508.82_
128,000.00 33.333 384.000.00 256,000.00
128,000.00 33.333 384,000.00 258,000.00
475,763.92 35.008 1.359,000.00 883.238.08
475,763.92 35.008 1.359.000.00 883.236.08
475.763.92 35.008 1,359,000.00 983,236.08
02/10/06
16:48
Page
5
----!
glpsbud CATHY
16:45 02/10/06
Fund: 2 Economic D Department: 11 PEDe
Period Ending: 01/2006
City of Paris
Budget Report
Program:
Page
S5
1 Economic Development Council
Account
Dellcription
Year
Budget
Unexpended
lllllount
1Ixpended
Month
Expended
Year
Percent
Expended
02-0001-11-01 ... :Indu8try Project. 361,272.00 100.00 .,725.00 1.30B 356,547.00
02-0002-11-01 Bxiatino Induatr,r Proiecta 361,272.00 361,272.00
Subu,tal t 722,544.00 100.00 .,725.00 .15. 717,819.00
02-0201-11-01 Office Suppli.. 6,500.00 249.91 30B.B2 ..751 6,191.1B
02-0202-11-01 Poetag_ B,OOO.OO 22..72 639. B9 7.999 7,360.1~
S"lll:otal. 14,500.00 "..&3 941.71 1.5U 13,551.29
02-0301-11-01 eoa.unlcation8 -Teleghone 1,300.00 B2.05 1,142.00 B7. B46 15B.00
02-0305-11-01 Court Coats-SD.cial Serve 1'... 3,000.00 1,924.70 7,041.20 234, 7 07 .,041.20-
02-0306-11-01 Travel lbr:nen... 29,000.00 3,970.18 10,177." 35.095 IB, B22. 51
02-0307-11-01 Public Rotie.. 500.00 30.00 250.00 50.000 250.00
02-0310-11-01 lfi.callan.ouB 1,000.00 1,000.00
02-0311-11-01 COntractual-Aaaociation8 4,000.00 120.00 1,297.00 32.425 2,703.00
02-0315-11-01 Prf3aOtional-Adverti.ing .0,000.00 7H.B6 20,349.55 SO. B7. 19,650.45
02-03U-11-01 Chamber Ac!Iliniatration 1'.. 10,000.00 10,000.00
02-0350-11-01 CalBDen..tiOD-Chaaber CBO 65,646.00 5,.70.50 21, BB2. 00 33.333 43,764.00
02-0351-11-01 CODII)enaation-A..t Director ..,IU.OO 4,216.91 16,867.64 33.97B 32,775.36
02-0352-11-01 Chamber Administration 1'.. 10,000.00 10,000.00-
lIubt:otal. 20.,089.00 16,589.20 89,006.88 U.612 115,082.12
02-0605-11-01 Audi ting 3,750.00 3,750.00
02-0610-11-01 Continaency 1,000.00 1,000.00
Subtotal. 4,750.00 4,750.00
02-1001-11-01 Purni tur. Ii Fixtur.. 661. .0 1, "5 .12 1,7.5.12-
02-1002-11-01 "chine" Tool. Bquipaent 5,100.00 5,100.00
lIubt:otal. 5,100.00 561.40 1,745.12 34.218 3,35..88
Progr.. number: 1 Bconoaic Development Caunci 950, 9B3. 00 17,B25.23 96,425.71 10.140 85.,557.29
DeD&rbaent nWlbul 11 PBDC 950,983.00 11,825.23 96,425.71 10.140 854,551.29
---;
glpsbud CATHY
16:45 02/10/06
Fund: 2 Economic D Department: 90 Debt
Period Ending: 01/2006
City of Paris
Budget Report
Program:
Page
56
1 Note Principal
Account:.
Description
Year
Budge t
Unexpended
Amount
Expended
Month
Bxpended
Year
Percent
Bxpended
02-0001-90-01 Not. Principal 219,638.00 16,639.15 66,321.~7 30.196 153,316.83
02-0002-90-01 Hot.. Inter.st BxDen.. 1,664.01 6,891.47 6,891..47-
8ub~o~al. 219,638.00 18,303.16 73,212.64 33.333 146,425.36
Prograa nUlllber: 1 Hot. Principal 219,638.00 18,303.16 73.212.64 33.333 146,425.36
glpsbud CATHY
16:45 02/10/06
Fund: 2 Economic D Department: 90 Debt
Period Ending: 01/2006
City of Paris
Budget Report
Program:
Page
57
2 PEDC Bonds 1998
Account
D..eription
Year
Bud.get
Expended
Month
Expended
Year
Percent
Rxpended
Unexpended
Amount
02-0001-90-02 Principal U5,OOO.00 165,000.00
02-0002-90-02 IDter..t Bii)en.. 220,225.00 220,225.00
02-0003-90-02 Paving Agent "e.. 1,775.00 1,775.. 00
Subtotal, 387,000.00 387,000.00
Program number: 2 PRDC Bond.. 1998 387.000.00 387,000.00
glpsbud CATHY City of Paris Page 58
16:45 02/10/06 Budget Report
Fund: 2 Economic D Department: 90 Debt Program: 3 Hibernia Line of Credit
Period Ending: 01/2006
Account De.criptioD Year Expended Expended Percent Unexpended
Budget Month Year Expended Amount
02-0001-90-03 He. Industry Proj ect. 226.500.00 15,387. '4 61.305.26 27.066 165,194.7.
02-0002-90-03 Bibemia Lin. of Credit Int:. 3.487.33 14.194.62 14,194.62
Buht:ota1. 226.500.00 11,174.97 75.499." 33 . 333 151.000.12
Program number: 3 Bibernia Line of Credit 226,500.00 11.874.97 75.499.88 33.333 151,000.12
Department number: 90 Debt 833.138.00 37,178.13 148,712.52 17.850 684,425.48
Fund number r 2 Bconomit'! nevelooment Pund. 1,784,121.00 55,003.36 245,138.23 13.740 1.538,982.77
glpsbud CATHY
16:45 02/10/06
Fund: 2 Economic D Department: 11 PEDC
Period Ending: 01/2006
City of Paris
Budget Report
Program:
Page
55
1 Economic Development Council
Account
Description
Year
Budget
Bxpended
Month
Expended
Year
Percent
Bxpended
Unexpended
Amount
02-0001-11-01 Hew Induatrv Pro ecta 351,272.00 100.00 4,725.00 1.308 356,547.00
02-0002-11-01 Bxiatino Induatrv Projects 351,272.00 361,272.00
Subto~.l. 722,544.00 100.00 4,725.00 .654 717,819.00
02-0201-11-01 Office Suppli.. 6,500.00 249.91 308.82 4. 751 6,191.18
02-0202-11-01 Poatag_ 8,000.00 224.72 639.89 7.999 7,360.11
Subto~a1. 14,500.00 474.63 948.71 6.543 13,551.19
02-0301-11_01 eo-unicationa -Tele1"llhone 1,300.00 82.05 1,142.00 87.846 15B.00
02-0305-11-01 Court Coata-So.cial Sarvll 1'... 3,000.00 1,924.70 7,041.20 234.707 4,041.20.
02-0306-11-01 Trave,l Bxpan... 29,000.00 3,970.18 10,177.49 35.095 18,822.51
02-0307-11-01 Public Rotlc.. 500.00 30.00 250.00 50.000 250.00
02-0310-11-01 Xi.callan.oua 1,000.00 1,000.00
02-0311-11-01 Contractual-MaoelatioD. 4,000.00 120.00 1,297.00 32.425 2,703.00
02-0315-11-01 Promotional-Advertiaing to,OOO.OO 774.86 20,349.55 50.874 19,650.45
02-0348-11-01 Ch.-bar Adainiatration P.. 10,000.00 10,000.00
02-0350-11-01 CooIponntion-C"-aber CBO 65,646.00 5,470.50 21,882.00 33.333 43,76".00
02-0351-11-01 eoa;-en..tiOD-A..t Director 49,643.00 4,216.91 16,867. '4 33.978 32,775.36
02-0352-11-01 Chamber Administration 1'.. 10,000.00 10,000.00-
Subto~a1. 204,089.00 16,589.20 89,006.88 43.612 115,082.12
02-0605-11-01 Audi tincr 3,750.00 3,750.00
02-0610-11-01 Contingency 1,000.00 1,000.00
Subto~.l. 4,750.00 4,750.00
02-1001-11-01 Pum! ture A Fixture. 661.40 1,745.12 1,745.12-
02-1002-11-01 Kaahinery Tool. Bquipment 5,100.00 5,100. DO
_~oul. 5,100.00 661.40 1,745.12 34 .218 3,354.81
Program n1mlber, 1 EcOIlOJl.1c Development Cauna! 950,983.00 17,825.23 96,425.71 10.140 854,557.29
DeDarf::aent number, 11 PBDC 950,983.00 17,825.23 96,425.71 10.140 854,557.29
glpsbud CATHY
16:45 02/10/06
Fund: 2 Economic D Department: 90 Debt
Period Ending: 01/2006
Account
D.scription
Yoar
Budget
02-0001-90-01 Rote Principal
02-0002-90-01 Hot.. Int..r..t.
~
---l!!!-.
219.638.00
'11..
219,631.00
219,638.00
progr... DWIJ
1 Rote Principal
City of Paris Page 56
Budget Report
Program: 1 Note Principal
Expended Bxpanded Percent Unexpended
Month Year Expended Amount
16,639.15 30.196 153.316.83
1,664.01 6,891.47-
18.303.16 lU..25.36
18.303.16 146,425.36
glpsbud CATHY
16:45 02/10/06
Fund: 2 Bconomic D Department: 90 Debt
Period Bnding: 01/2006
Account
D.scription
Year
Budget
02-0001-90-02 PrincipaI
02-0002-90-02 Inter.st Bxpen..
02-0003-90-02 Paying Agent .....
SUbto'tall
Program. nlmberl 2 PBDC Bon~ 199B
165,000.00
220,225.00
1,775.00
381,000.00
387,000.00
City of Paris
Budget Report
Program:
Expanded
Month
Expanded
Year
Page
57
2 PEDC Bonds 1998
Percent
Bxpended
Unexpended
Amount
165,000.00
220,225.00
1,775.00
387,000.00
387,000.00
glpsbud CATHY
16:45 02/10/06
Fund: 2 Economic D Department: 90 Debt
Period Ending: 01/2006
City of Paris
Budget Report
Program:
Page
58
3 Hibernia Line of Credit
Account
D.scription
Y.ar
Budget
Expended
Month
Bxpended
Year
Percent
Expended
Unexpended
Amount
02-0001-90_03 Ha. Indu.try Projects 226.500.00 lS,38'1a5" 61,305.26 27.066 165.194.74
02-0002-90-03 Ribernia Line of Credit Int. 3,487.33 14,194.62 14,194.62 -
Subt:otala 226.500.00 11.174.97 75.499.11 33.333 151.000.12
Program DUlllber: 3 Bibernia Line of eredi t 226.500.00 11,174.97 75,499.88 33.333 151,000.12
Oepartaent. number I 90 D~t 833.138.00 37,178..13 148,712.52 17.850 684,425.48
Fund nWDber: 2 Bconomic Development. Pund 1,784,121.00 55,003.36 245,138.23 13.740 1,538,982.77
glpb1sh2
CATHY
Fund:
City of Paris
Balance Sheet
Period Bnding: 01/2006
02/10/06
16:44
2 Economic Development Fund
Account Number
Description
Debit
Credit
02-1110-00-00 Cash-Bconomic Development Fund 86,098.68
02-1111-00-00 Cash-1998 I & S Fund 121,599.44
02-1112-00-00 Cash-1998 Bond Reserve Fund 18,499.02
02-1132-00-00 Transfer from Operatina -92,000.00
02-1133-00-00 Transfer to IreS Fund 92,000.00
02-1210-00-00 CD-Peoples National Bank 95,000.00
02-1211-00-00 CD-Lamar National Bank 95,000.00
02-1212-00-00 CD-Ribernia National Bank 95,000.00
02-1213-00-00 CD-1st Federal Savings & Loan 95,000.00
02-1216-00-00 CD-Liberty National Bank 95,000.00
02-1217-00-00 Lone Star Inv Pool-Bond Res 390,860.00
02-1218-00-00 MBIA OPBRATING INVESTMENT 576,000.00
02-1410-00-00 Loan Reoeivab1e-paris Package 3,036,167.58
02-3410-00-00 Bonds Payable -3,295,000.00
02-3412-00-00 Note Payable C-Teoh -588,705.20
02-3413-00-00 Note Payable-Paris Business Pk -880,610.34
02-5100-00-00 Fund Balance Bconomic Dev1p 862,716.51
02-5500-00-00 Bstimated Revenue 819,000.00
02-5700-00-00 Budget Appropriations -1,391,000.00
Caft'eb.~.. 'feu .Rnau.J'BJCHIl." -230,52$.69
---------------- -----------------
I'lm4 t;ota1.t 6,477i'.41.23 I.,... -5i4'7'1j.41.23
-I
Page
4