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04-E PEDC Min 10-20-04.wpd REGULAR MEETING OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION October 20, 2004 The Paris Economic Development Corporation met in regular session Wednesday, October 20, 2004 in the Community Room of the Lamar County Chamber of Commerce, 1125 Bonham Street, Paris Texas. President Don Wal called the meeting to order with the following Directors present: Sims Norment, Richard Severson and Rodney Bass. Also present were Executive Director Gary Vest, Assistant Director Chad Manning, Mayor Curtis Fendley, interim City Manager Larry Shaw, City Attorney Larry W. Schenk and Asst. City Clerk Sherian Dixon. President Wall called for approval of the minutes of the September 15, 2004 meeting. Director Bass made a motion for approval, which was seconded by Director Severson. The motion passed unanimously. Gene Anderson, Finance Director for the City of Paris, came forward to give the Financial report for September 2004. Mr. Anderson related that the sales tax payment was $70, 285.00. He said the sales tax payment has been increasing steadily for the last three months. On the Cash Flow Statement, he pointed the Debt payment with principle and interest on the Bond Issue, which was made in September. He said they also made the final payment on the TCIM Incentive package. On a question from President Wall, Executive Director Gary Vest said they like one more payment on the Industrial Park and Hearne Street, but there were still some liquidated damages they needed to resolve. President Wall said PEDC ended the year with $30,000.00 than they had last year and cited that as a positive trend. Director Vest came forward to give his report and mentioned several projects they had been working on. He explained the first project was called Project Pipe. He said this was Raintree Irrigation Systems and although they were Paris Economic Development Corporation October 20, 2004 Page 2 indecisive at this time, they were still working with them. He said there was a project brought to them by Bandera Ventures, a Service Center, and this would be discussed in Executive Session. He said on the Helicopter Center, Air Evac, they had a meeting with them and representative of the hospital, City, Chamber and EMS. He said that was moving ahead and if every thing goes well, they will probably be in Paris in February. Mr. Vest said Project Sierra is a proposal being handled by the Pathfinders Consultant Group. He said this was a plastic manufacturing operation who would initially need 100,000 square feet and would later expand to 400,000 square feet. He said they are working with a real estate company in Dallas on another project. He said although he didn’t know anything about what the company did, Paris was in the running for this company. Mr. Vest mentioned there was a Distribution Center they were working on with CAC Commercial Realty. He said he had two companies contact him about housing projects, also, and both are looking seriously at Paris. He related that Chad Manning had just finished his first cost of living survey. Mr. Vest said the Industrial Park was nearly finished and he estimated they would receive about $15,000.00-$20,000.00 in liquidated damages. He mentioned that Hearne Street was nearly finished, also. A discussion of the delays in the Industrial Park ensued. Mr. Vest advised that most of the concrete pours failed the “slump” test, but the “breakage” tests came in good, with only one failing that. He said that sometimes when concrete doesn’t pass a “breakage” test, they do a test thirty days later and it would probably pass then. Mr. Vest said the holdup on the Hearne Street Project was because they had to move a gas line and the hole they made for that is full of water right now. Paris Economic Development Corporation October 20, 2004 Page 3 President Wall informed them that he and Gary Vest had attended a meeting of the River Trade Corridor Coalition in Dallas. He said they had expanded the Corridor to include Lamar County. He said Paris would be represented through Net-Mob. He said the Coalition is wanting to use the existing corridor because it would cost too much money to move everything to another corridor. Mr. Wall said he wanted the existing corridor as is until it gets to Dallas. Then he wants it to split. He also wanted the corridor to connect into the Indian Nation Turnpike. He mentioned they were having a meeting in Paris on Monday, 5:00 to 8:00 p.m. He urged everyone to attend and show their support for this. Mr. Vest relayed a message from Tx-Dot about the meeting in Austin, that they did not want anyone to show up until after the Legislative Session and when they did show up, they should have their money in hand. President Wall said the study on Highway 271 was nearly done. He advised that Tx-Dot told him they would not fund 100%. President Wall called for a closed session at 4:30 p.m. in accordance with Sec. 551.072 and Sec. 551.087 of the Open Meetings act, to discuss the purchase, exchange, lease, or value of real property which if conducted in an open meeting would have a detrimental effect on the position of the Paris Economic Development Corporation in negotiations with a third person and to discuss possible incentives, pending negotiations, and commercial or financial information from business prospects and potential financing. A. Sale of real estate B. Incentives for We-Pack C. Incentives for T & K Machine President Wall closed the Executive Session at 5.00 p.m. and reconvened the Open Meeting. On the sale of real estate, Director Bass made a motion to authorize Gary Vest Paris Economic Development Corporation October 20, 2004 Page 4 to negotiate the sale of the real estate as discussed in Executive Session. Director Norment seconded the motion and it passed unanimously. On the incentives for We-Pack, Director Severson made a motion to offer We- Pack a $5000.00 incentive toward the preparation of Enterprise Project Application. Director Norment seconded the motion and it carried unanimously. President Wall said there was no action item C. President Wall said he had a conflict with the date of the meeting for next th month. It was decided to leave the meeting on Nov. 17. There being no further business, the meeting adjourned. _________________________________ DON WALL, PRESIDENT APPROVED AS TO FORM: ___________________________________ SHERIAN DIXON, ASST. CITY CLERK