03.22.2017 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd., Suite 50
Prosper, Texas 75078
Wednesday, March 22, 2017 - 6:00 p.m.
Call to Order and Announce a Ouorum is Present
Board President Jim Wicker called the meeting to order at 6:00 p.m. Board members present were Vice
President David Bristol, Treasurer Roger Thedford, Mayor Ray Smith, Board Member Jordan Simms, and
Board Member Reno Jones. Board member Billy Hurst was not present. Finance Director Kelly Neal and
PEDC Assistant Susanne Barney were also present.
Comments from Citizens (The EDC may receive input from citizens only on topics that are not listed on the
meeting agenda)
There were no comments.
2. Approval of Minutes from the Regular Meeting on February 15, 2017.
Ray Smith moved to approve the February 15, 2017 Regular Meeting Minutes. The motion was seconded by
Jordan Simms and was unanimously approved by all Board members present.
3. Approval of PEDC Financial Report for the month of February 2017, and Take any Additional Action
Necessary.
Roger Thedford overviewed the finances. Reno Jones moved to approve the PEDC Financial Report for the month
of February 2017. The motion was seconded by Ray Smith and unanimously approved by all Board members
present.
4. Discussion and Approval of Recommendation to Amend the PEDC Bylaws.
Kelly Neal overviewed the recommended amendment to the PEDC Bylaws language.
Roger Thedford moved to approve the Recommended amendment to the PEDC Bylaws. The motion was seconded
by David Bristol and unanimously approved by all Board members present.
Upon further discussion the Board agreed to reopen item # 4 for additional language amendment. Amendment is
included on last page of minutes. Roger Thedford moved to approve the Recommended amendment to the PEDC
Bylaws. The motion was seconded by David Bristol and unanimously approved by all Board members present.
5. Discussion and review of approved list of qualified broker/dealers and financial institutions that are
authorized to engage in investment transactions with the Town of Prosper and Prosper Economic
Development Corporation, as defined in the Town Investment Policy.
The Board reviewed the approved list.
6. Discussion and Approval of Master Networks' request to use the PEDC conference room for their weekly
one hour meetings.
The Board consensus is that the PEDC office does not have the appropriate accommodations for such meetings.
7. Town of Prosper Report: Update on Various Activities and Projects by the Town.
Mayor Ray Smith gave an overview of Town projects.
8. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
President Jim Wicker gave an update on the recent activities.
9. Confirm the next Regularly Scheduled PEDC Board Meeting is Wednesday, April 19, 2017 at 6:00 P.M.
PEDC Minutes —page 2
November 16, 2016
The Board confirmed that the next regularly scheduled meeting of the PEDC is Wednesday, April 19, 2017 at 6:00
P.M.
Board President Jim Wicker recessed the regular meeting at 6:55 P.M.
10. Convene into Closed Executive Session Pursuant to Texas Government Code:
• Section 551.087; Deliberation of Economic Development Negotiations to Deliberate Commercial
and Financial Information and Economic Incentives relating to the following:
o Retail Development
o Office & Corporate Development
• Section 551.074; Deliberation of Personnel Matters
o Staffing of Prosper EDC office
Board President Jim Wicker called the meeting into Closed Executive Session at 6:55 P.M.
The PEDC Board met in Executive Session from 6:55 P.M. to 7:43 P.M.
11. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
Board President Jim Wicker reconvened the meeting into Open Session at 7:43 P.M.
There was no action taken.
12. Adjourn
Roger Thedford moved to adjourn the meeting and the motion was seconded by Ray Smith. The PEDC Board
meeting adjourned at 7:43 P.M.
Jord, i Simms — Secretary Date