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PEDC to convene into executive session Friday regarding property at Industrial Park

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The Paris Economic Development Corporation meets Friday, March 2 at 11 a.m. and is expected to go immediately into executive session to discuss “commercial and financial information and economic incentives” related to commercial real-estate development at the PEDC Industrial Park.

The meeting will be held in the  PEDC board room at 1125 Bonham St. Paris, Texas.

Paris Economic Development Corp to meet Thursday afternoon

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The Paris Economic Development Council will meet Thursday, February 15, 2018 in the community room at 1125 Bonham St. Paris, Texas 75460. A full agenda packet can be downloaded here.

Thursday, February 15, 2018 
4:00 O’CLOCK P.M. 
AGENDA 
  1. Call meeting to order Richard Manning, Chair
  2. Citizens’ Input
    (Persons desiring to address the Paris EDC Board must limit their presentation to no more than two minutes. Unless an item is posted on the Agenda, the Texas Open Meetings Act prohibits the Board from responding to any comments other than to refer the matter to a future agenda, to an existing policy, or to a staff person with specific factual information. Claims against the Paris EDC Board Members or employees are not appropriate for citizens’ input)
  3. Discuss and possibly approve Minutes of the January 23, 2018 Monthly Meeting.
  4. Discuss and possibly approve January 2018 Financials.
  5. Discuss and possibly approve the yearly Audit Report for the 2016-2017 year as presented by Brittany Martin of McClanahan and Holmes.
  6. Discuss the Executive Director’s Marketing Travel for 2018.
  7. Executive Director’s Monthly Report.
  8. Convene into Executive Session:
    a) Section 551.087; Deliberation of Economic Development Negotiations to deliberate Commercial and Financial Information and Economic Incentives relating to the following: Commercial real-estate development.
    1) Discuss Land Purchase
    2) Project American SpiralWeld
  9. Reconvene into Open Session and possibly take action on items) discussed in Executive Session.
  10. Discuss Future Agenda Items.
  11. Adjourn
POSTED: Monday, February 12, 2018, at City Hall Annex Bulletin Board 
If necessary, the Paris Economic Development Corporation may convene into Executive Session under Chapter 551 of the Texas Government Code regarding any item on this agenda.
Conflict of Interest: 
The Paris EDC Voting and Ex-Officio members should read all items of the above agenda to confirm that he/she doesn’t have a conflict of interest with any of the ]terns for discussion and/or action.

Clifford, Lancaster come out strong against spec building

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The Paris City Council met 5:30 p.m. Monday in the City Council Chamber to discuss the proposed PEDC spec building at 2305 NW Loop 286.

PEDC Executive Director Michael Paris presented the council with the bid it received from Bobby Smallwood Construction1 for their spec building project, which totaled $738,380. A bid bond and a surety bond will also be included in the final costs. The Builder’s Risk Insurance was already included in the bid, making the second insurance estimate redundant.

According to Adjusters International, builder’s risk insurance is coverage that protects an organization’s insurable interest in materials, fixtures and/or equipment that’s being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause.1

Prospects, primary jobs, and the public’s perception of the PEDC

Paris addressed the perceptions that have overshadowed the PEDC’s efforts.

“The reason we wanted to do this spec building was to recruit primary jobs to Paris, Texas, and since it is already zoned heavy industrial, we wanted to use this asset to capture a prospective market that we are not capturing right now,” Paris said.

The Texas Economic Development Corporation suggests that about 75 percent of companies coming to the state are looking for an existing building, Paris explained. Even eliminating those prospects that demand an interstate or a nearby international airport, the City of Paris still not capturing a prospective market that needs to be looking at Paris, Texas, he said.

Paris explained that colleagues in Sherman, Denison, Mount Pleasant and Sulphur Springs have spec buildings that they’re able to show to potential businesses.

If we build it—will they come? Dangling carrots, and other questions

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PEDC to bring discussion on proposed spec building to city council next Monday

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Paris Economic Development Corporation met Tuesday to discuss obtaining approval from the Paris City Council to use funds from PEDC reserves to finance the construction of a spec building at 2305 NW Loop 286 that it plans to use to court future industries.


Google maps shows the site at 2305 NW Loop 286 before the old structure was torn down. A bare concrete slab with sewage and eight-inch water line remains.


‘Consternation’

“When I went to our city council with regards to our 2016-17 budget, there was some consternation with the city council about the spec building and the process of what we went through,” PEDC Executive Director Michael Paris said.

“What we want to convey is, this building is being built for the creation of primary jobs. And that indicates if somebody were to (be interested in it for a) short term, we would go and pursue approval from the council. The City Council would be involved in that decision making process,” he said.

Paris asked the board to discuss how they wanted to move forward and explained that he needed the PEDC’s permission to take the issue to the council meeting Monday.

The corporation’s bylaws state that any spending over $400,000 must be taken to the city council for approval.

“So what I’m asking y’all to do is to go ahead and approve not only the bid, but also the other expenses related,” Paris said.

The PEDC plans to take the following items to the city council for a general discussion Monday:

  1. approval for the bid for $738,380 from Bobby Smallwood
  2. a construction contingency of $25,000
  3. a bid bond at $10,880
  4. builder’s risk insurance of $2,040

This puts the total at $776,300. This could be tweaked, Paris explained, depending on feedback from the council.

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