09/19/2014 MINUTESPARIS ECONOMIC DEVELOPMENT CORPORATION
SPECIAL CALLED MEETING
Friday, September 19, 2014
MINUTES
Board Members Staff
Present: Stephen Grubbs, Chair Present:
John Brockman, Vice Chair
Rebecca Clifford, Secretary /Treasurer
David Turner
Don Wilson
Ex- Officio Members Guest(s)
Present: None Present:
Legal
Counsel: None
City Council
Liaison: Edwin Pickle
Shannon Barrentine
Interim Executive Director
Chassidi Taylor
Admin. Assistant
J.D. Davidson, The Paris News
Terry Christian, Peoples Bank
Stephen Grubbs called the meeting to order at 10:00 a.m. and welcomed those present.
Confirmed that a quorum was present.
The Board convened into Executive Session at 10:01a.m. Pursuant to Section 551.072,
551.074 and Section 551.087 of the Texas Government Code to discuss and deliberate on the
following:
1. Pursuant to Section 551.072 — Real Property
2. Pursuant to Section 551.074 — Personnel
3. Pursuant to Section 551.087 — Economic Development Negotiations
Rebecca Clifford arrived at 10:10 a.m.
J.D. Davidson and Chassidi Taylor returned at 10:54 a.m.
Executive Session ended at 10:56 a.m. The Board reconvened into open session. As a result
of executive session discussion the Board took the following action:
PEDC Board Meeting Minutes
September 19, 2014
Page 2 of 2
John Brockman made a motion to continue the guarantee of a loan (line of credit) for BodyGuard
with Peoples Bank; the guarantee will be extended in the amount of $75,000 rather than $100,000
for one year; with the term of the note being 48 months after the extension; as well as, the
borrowing base to be monitored by Peoples Bank at 80% of eligible receivables and all other
terms and conditions of the agreement will remain the same. In addition, grant them a one year
extension for attaining the 15 required employees which would be extended to September 1,
2015; seconded by David Turner. Motion Carried 5 -0.
John Brockman made a motion that the PEDC staff work on the Incentive for Project Powder Puff
to obtain quotes for a survey of 7.5 Acres on the Northwest Industrial Park to be completed by
October 20, 2014; seconded by David Turner. Motion Carried 5 -0.
David Turner made a motion to adjourn at 10:59 a.m.; seconded by Stephen Grubbs. Motion
Carried 5 -0.
Respectfully submitted,
Chassidi Taylor
Administrative Assistant
Paris EDC