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07.24.2013 PEDC Minutes1 Prosper ECONOMIC DEVELOPMENT CORPORATION MINUTES Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd., Suite 50 Prosper, Texas 75078 Wednesday, July 24, 2013 - 6:00 p.m. Call to Order and Announce a Ouorum is Present Board President Jim Wicker called the meeting to order at 6:07 p.m. Board members present were Jim Wicker, Ray Smith, Reno Jones, David Bristol, Gary Jackson and Kevin Drown. Board member Jordan Simms was absent. PEDC Executive Director Robert Winningham and PEDC Economic Development Specialist Garrett Weaver were present. 1. 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 from citizens. 2. Approval of Minutes from the Regular Meeting on June 19, 2013 The June 19, 2013 Minutes were approved with a motion from Ray Smith and seconded by David Bristol. The motion passed unanimously. 3. Approval of June 2013 PEDC Financial Reports Reno Jones presented the May, 2013 Financials. Jones noted that the PEDC had another good month in sales tax revenue and that the monthly cash overview was over $2 million. Jones also noted that there was a discrepancy between the ending cash balance and beginning cash balance for the month and credited this discrepancy to there being no encumbrances system currently in place. Gary Jackson added that such a discrepancy was likely due to a timing lag. Robert Winningham noted that the Town's Accounting Manager position is currently vacant as the person occupying that position resigned on July 19, 2013. Winningham indicated that he had met with Town Manager Harlan Jefferson and the Accounting Manager prior to the Accounting Manager's departure. Ray Smith added that the Town had offered the Finance Director position to a candidate but the candidate declined. Smith indicated that there are more interviews occurring in the coming weeks. Smith noted that the Town has brought in under contract a temporary replacement who knows the system. Smith also added that the Town is planning to bring an accountant to help update the Town's finances. Jim Wicker offered that Robert Winningham and the Finance Subcommittee work to get someone in place temporarily to aid in organizing the finances. Winningham noted that there is roughly $20,000 left in the Professional Services account and that the PEDC could hire an outside accounting firm to help. David Bristol asked if that could possibly be a long-term solution and could an independent accounting system for the PEDC be created. Winningham stated that he favored working with the Town to produce accurate financial statements. Jim Wicker added that the PEDC should work with the Town and Town Manager to bridge any reporting gaps in the interim. On a motion by David Bristol and seconded by Gary Jackson, the Board directed Executive Director Robert Winningham to have discussions with Town Manager Harlan Jefferson to provide improved Financial Reports for the next Board Meeting and to defer approval for the June Financial Reports. The motion was unanimously passed. 4. Report of the Finance Subcommittee and Any Action on Recommendations from the Subcommittee There was no report from the Finance Subcommittee at this time. PEDC Minutes —page 2 July 24, 2013 5. Discuss and Possibly Approve PEDC Budget for FY2014 Jim Wicker opened the discussion by suggesting that the PEDC should consider creating a policy and documenting procedures for generating budget plans in the future as opposed to arbitrarily changing it. Robert Winningham asserted that in a city he previously worked, project incentive funds were held in reserves and then funds would be transferred to a designated line item for projects accordingly. He added that budget amendments in this particular city were made when a contract was executed. Wicker added that if the PEDC is obligated to spending funds then such obligations should be outlined in the budget. Ray Smith noted that the same should be done for funds that the PEDC receives. David Bristol asked if Project Incentives should now be Project Reserves, Project Reserves being the difference between expenses and what is budgeted. Bristol added that the PEDC should not budget for more than the funds it currently has. Wicker noted that revenues should dramatically increase in the future. Gary Jackson asked if the Town has a forecast for sales tax revenue. Winningham stated that the Finance Director typically calculates and distributes a sales tax revenue forecast. Wicker believed that a sales tax forecast of $675,000 was too low. Winningham noted that this was intentional as the sales tax forecast was a conservative estimate. Ray Smith asked if health care expenses had increased for PEDC employees to which Winningham responded affirmatively. Winningham also noted that the budget for Car Allowance was properly placed in the FY2014 Budget and that are no more Chapter 380 obligations, nor is there a line item for meetings with prospects. Smith asked if the 2,300 mile Car Allowance was added for the Economic Development Specialist position to which Winningham responded affirmatively. Winningham also pointed to an increase in the Contract Labor budget for the office cleaning service. Gary Jackson asked if the PEDC should add a budget for the recruitment of accounting aid. David Bristol noted that had already been added under the Professional Services budget. After deliberation, the Board agreed that the PEDC Budget for FY2014 shall be voted on for approval at the next Board Meeting. 6. 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 for the following: Board President Jim Wicker called the meeting into executive session at 6:52 p.m. Office Development Downtown Revitalization Project Retail Development Board President Jim Wicker reconvened the meeting into regular session at 8:00 p.m. 7. Take Any Action Necessary as a Result of Executive Session On a motion by Ray Smith and seconded by David Bristol, the Board directed the PEDC Board President and the PEDC Executive Director to negotiate acceptable terms and to bring to the Board terms for an office lease agreement for approval by the Board. The motion was unanimously passed. 8. Town of Prosper Report Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper. 9. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events PEDC Executive Director Robert Winningham presented updates on projects in which the PEDC staff is working. PEDC Miuufes — page 3 July 24, 2013 10. Adjourn The PEDC Board meeting adjourned at 8:05 p.m. with a motion from Ray Smith and seconded by David Bristol. The motion was unanimously passed. David bristof - PEDC Secretary Date Prosper ECONOMIC DEVELOPMENT CORPORATION MINUTES Special Called Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd., Sulte 50 Prosper, Texas 75078 Monday, August 12, 2013.6:00 p.m. Call to Order and Announce a Quorum is Present 1. Call to Order/ Roll Call Board President Jim Wicker called the meeting to order at 6:00 p.m. Board members present were Jim Wicker, Ray Smith, Reno Jones, Gary Jackson and Kevin Drown. Board members Jordan Simms and David Bristol were absent. PEDC Executive Director Robert Winningham and PEDC Economic Development Specialist Garrett Weaver were present. Guest present was Town Manager Harlan Jefferson. 2. EXECUTIVE SESSION Recess into Closed Session Section 551.072. Deliberation Regarding Real Estate: Board President Jim Wicker called the meeting into Executive Session at 6:01 p.m. • Discussion of Prosper EDC Office Lease Board President Jim Wicker reconvened the meeting into Regular Session at 6:49 p.m. 3. Take Any Action Necessary as a Result of the Executive Session On a motion by Gary Jackson and seconded by Ray Smith, the Board authorized the PEDC Board President and the PEDC Executive Director to negotiate a final lease between the PEDC and a landlord with the understanding that the landlord will provide the PEDC with an analysis of the economic impact of the PEDC's lease to the community (i.e. Town, County, Collin College and Prosper ISD) on or before the execution of such lease. The motion was unanimously passed. 4. Adjourn The PEDC Board meeting adjourned at 6:51 p.m. with a motion from Ray Smith and seconded by Gary Jackson. The motion was unanimously passed. � ? avid Bristol — PEDC Secretary Date Prosper ECONOMIC DEVELOPMENT CORPORATION MINUTES Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd., Suite 50 Prosper, Texas 75078 Wednesday, August 21, 2013 - 6:00 p.m. Call to Order and Announce a_()uorum is Present Board President Jim Wicker called the meeting to order at 6:02 p.m. Board members present were Jim Wicker, Ray Smith, Reno Jones, David Bristol, Gary Jackson, Jordan Simms and Kevin Drown. PEDC Executive Director Robert Winningham and PEDC Economic Development Specialist Garrett Weaver were also present. 1. 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 from citizens. 2. Approval of Minutes from the Regular Meeting on July 24, 2013 and the Special Called Meeting on August 12, 2013 The July 24, 2013 and August 12, 2013 Minutes were approved with a motion from Ray Stnith and seconded by Reno Jones. The motion passed unanimously. 3. Approval of July 2013 PEDC Financial Reports Robert Winningham presented the July 2013 Financial Reports. Winningham applauded Town Manager Harlan Jefferson for his efforts to improve the PEDC Financial reporting. Jordan Simms noted that the total appropriation percentages need to be convected. Winningham noted that the error would be promptly revised. Jordan Simms made the motion to approve the July Financials subject to the aforementioned revisions. The motion was seconded by David Bristol and was unanimously passed. 4. Report of the Finance Subcommittee and Any Action on Recommendations from the Subcommittee There was no report from the Finance Subcommittee at this time. 5. Approval of PEDC Budget for FY2014 Robert Winningham presented the proposed PEDC Budget for FY2014. Winningham noted that budgeted expenses are less than predicted revenue. He added that $100,000 was budgeted for Project Incentives to be in place for any smaller scale projects that may arise, and that budget amendments could be made for any major projects that may arise in the future. David Bristol made the motion to approve the PEDC Budget for FY2014. The motion was seconded by Jordan Simms and was unanimously passed. 6. 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 for the following: Board President Jim Wicker called the meeting into executive session at 6:09 p.m. ■ Prosper Business Park • Retail Development Board President Jim Wicker reconvened the meeting into regular session at 6:21 p.m. PEDC Minutes —page 2 August 21, 2013 7. Take Any Action Necessary as a Result of Executive Session No action was taken at this time. 8. Town of Prosper Report Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper. 9. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events PEDC Executive Director Robert Winningham presented updates on projects in which the PEDC staff is working. 10. Adjourn The PEDC Board meeting adjourned at 6:37 p.m, with a motion from Reno Jones and seconded by Kevin Drown. The motion was unanimously passed. -------------------- David Bristol — PEDC Secretary Date P �0- Fd Prosper ECONOMIC DEVELOPMENT CORPORATION MINUTES Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd,, Suite 50 Prosper, Texas 75078 Wednesday, September 18, 2013.6:00 p.m. Call to Order and Announce a Quorum is Present Board Vice President Jordan Simms called the meeting to order at 6:04 p.m. Board members present were, Ray Smith, Reno Jones, David Bristol, Gary Jackson, Jordan Simms and Kevin Drown. PEDC Executive Director Robert Winningham and PEDC Economic Development Specialist Garrett Weaver were also present. Guests Included Marcey Mettica. Board President Jim Wicker joined the meeting in progress. 1. Comments from Citizens (The EDC may receive Input from citizens only on topics that are not listed on the meeting agenda) There were no continents from citizens. 2. Approval of Minutes from the Regular Meeting on August 21, 2013 The August 21, 2013 Minutes were approved with a motion from Ray Smith and seconded by Reno Jones. The motion passed unanimously. 3. Approval of the June 2013 PEDC Financial Report Reno Jones presented the June 2013 Financial Report. Jones noted that the EDC had another good month of sales tax revenue. Jones asked when the Financial Subcommittee will resume conducting meetings. Robert Winningham replied that the Subcomrnittee will resume meetings once the new Finance Director, Kent Austin, is settled in to his new position. Winningham estimated that a meeting would most likely be held in early November. Winningham also noted that the Town hired a consultant to handle the Town's finances in the interim. He also noted that the consultant had fixed an error on one of the past Financial Reports per the PEDC Board's request. Winningham stated that the June Report does not reflect budget adjustments made previously. David Bristol moved to approve the June Financials. The motion was seconded by Reno Jones and was unanimously passed. 4. Presentation by First Street Counseling and Consulting, PLLC Marcey Mettica presented to the Board her company's interest in opening an office in Downtown Prosper. Mettica explained the company's operation and how it would benefit the community. Mettica then detailed all of the company's requirements to be able to start her business. Mettica noted a few problems that had arisen during the pursuit of a building permit. Secretary David Bristol inquired if there was a specific request that Mettica wanted from the Board. Mettica replied that any assistance provided would be helpful. 5. 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 for the following: Board President Jim Wicker called the meeting into executive session at 6:32 p.m Consider Economic Development Incentives for First Street Counseling and Consulting, PLLC Retail Development Board President Jim Wicker reconvened the meeting into regular session at 7:42 p.m. PEDC Minutes - page 2 September 18, 2013 6. Take Any Action Necessary as a Result of Executive Session On a motion by David Bristol and seconded by Ray Smith, the Board directed Executive Director Robert Winningham to negotiate a lease with John Harris to be signed by Board President Jim Wicker. The motion was unanimously passed. 7. Town of Prosper Report Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper. Smith noted that the Regular Board Meeting for October would be moved from October 16, 2013 to October 23, 2013 due to the Prosper High School Homecoming Parade being scheduled on October 16, 2013. The Board agreed to set its next meeting date for October 23, 2013. 8. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events PEDC Executive Director Robert Winningham presented updates on projects on which the PEDC staff is working. Winningham noted the Prosper Chamber of Commerce Annual Banquet will be held on October 15, 2013 to which all Board members are invited. 9. Adjourn The PEDC Board meeting adjourned at 6:46 p.m. with a motion from Ray Smith and seconded by Jordan Simms. The motion was unanimously passed. 4ZT 2-3 Z L.�, i_ David Bristol — PEDC Secretary Date Prosper ECONOMIC DEVELOPMENT CORPORATION MINUTES Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd., Suite 50 Prosper, Texas 75078 Wednesday, October 23, 2013 - 6:00 p.m. Call to Order and Announce a Ouorum its Present Board President Jim Wicker called the meeting to order at 6:04 p.m. Board members present were Ray Smith, David Bristol, Gary Jackson, Jordan Simms and Roger Thedford. PEDC Executive Director Robert Winningham and PEDC Economic Development Specialist Garrett Weaver were also present. Guests included Town Finance Director Kent Austin. Board member Reno Jones joined the meeting in progress. 1. Recognition of Outgoing PEDC Board Member Kevin Drown Board President Jim Wicker announced that a plaque would be given to outgoing Board member Kevin Drown as a token of gratitude for his years of service to the Town. 2. Recognition of Incoming PEDC Board Member Roger Thedford Board President Jim Wicker announced that Roger Thedford had been sworn into office by the Town Secretary. Thedford briefed the Board on his upbringing in the area as well as his professional background. 3. Election of PEDC Board Officers The Board took nominations and made the following elections for PEDC Board officers. A motion was made by Ray Smith to elect Jim Wicker as Board President. The motion was seconded by David Bristol and was unanimously passed. A motion was made by Jordan Simms to elect David Bristol as Board Vice President. The motion was seconded by Ray Smith and was unanimously passed. A motion was made by Gary Jackson to elect Reno Jones as Board Treasurer. The motion was seconded by Jordan Simms and was unanimously passed. A motion was made by David Bristol to elect Gary Jackson as Board Secretary. The motion was seconded by Reno Jones and was unanimously passed. 4. 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 from citizens. 5. Approval of Minutes from the Regular Meeting on September 18, 2013 Ray Smith moved to approve the September 2013 Regular Meeting Minutes provided that the last two (2) sentences in Item 4 are deleted. The motion was seconded by Jordan Simms and was unanimously passed. 6. Approval of the PEDC Financial Reports for August 2013 and September 2013 Reno Jones presented the August and September Financial Reports. Jones noted that the EDC had another record month and record quarter of sales tax revenue. Jones also stated that a large expenditure was made for the sewer line being installed on the west side of Town. Robert Winningham noted that the expenditure was made on for an agreement that was made with the Town in 2011. David Bristol asked if this expenditure was a one- time payment. Winningham confirmed that the expenditure was one-time only. PEDCMinules —page 2 October 23, 2013 Town Finance Director Kent Austin introduced himself to the Board. Austin explained that the process by which the Town Finance Department generates reports for the PEDC and discussed with the Board on how some reporting methods could be improved. Jim Wicker asked when the Finance Subcommittee could begin meeting again. Reno Jones commented that the Committee could most likely meet before the next Board meeting. David Bristol noted that there were no cash deposits recorded for September. Kent Austin noted that there were cash deposits from sales tax revenue; however they did not appear in the report. Austin added that he and his staff are working to streamline the financial reporting process to prevent such omissions in the future. Jordan Simms suggested that there should be a liabilities section added to the Financial Report. Jim Wicker added that PEDC staff should track all of the contracts that are executed to which the Board agreed. David Bristol moved to approve the August 2013 Financials and the September 2013 Financials, subject to correcting the cash deposit section in the September Financial Report to reflect the correct amount. The motion was seconded by Gary Jackson and was unanimously passed. 7. Discuss and Possibly Approve Guidelines for Incentives Robert Winningham presented the Incentive Guidelines that the PEDC staff had generated. Winningham explained that these guidelines are created to give staff a mechanism for pursuing the type of prospects that the Board is willing to consider for financial assistance. Jim Wicker noted that the guidelines would provide further definition and direction for staff when determining what projects staff should present to the Board. Wicker added that the guidelines would also aid staff in their day-to-day operations. Ray Smith asked if the guidelines would be for internal use only. Winningham answered in the affirmative. Wicker asked if they would be helpful in communicating with prospects. Winningham answered that the guidelines would be looked at on a case-by-case basis and would provide a healthy discussion on what the Board seeks. Wicker concluded by noting that the Incentive Guidelines would be a useful tool for internal use. Winningham announced that he would be available to meet with Board members individually for any thoughts or suggestions. After deliberation, no action was taken on this agenda item. 8. Town of Prosper Report Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper. 9. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events PEDC Executive Director Robert Winningham presented updates on projects on which the PEDC staff is working. 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 for the following: Board President Jim Wicker called the meeting into executive session at 7:15 p.m. m Retail Update m Office Lease(s) Board President Jim Wicker reconvened the meeting into regular session at 7:40 p.m. 11. Take Any Action Necessary as a Result of Executive Session No action was taken at this time. PEDC Minutes —page 3 October 23, 2013 12. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.074; Deliberation of Personnel Matters related to the following: Board President Jim Wicker called the meeting into executive session at 7:43 p.m. a Annual Review of PEDC Executive Director Board President Jim Wicker reconvened the meeting into regular session at 8:50 p.m. 13. Take Any Action Necessary as a Result of Executive Session Jim Wicker, on behalf of the Board of Directors, presented Robert Winningham with the Board's review of his performance for the last year, which included a spreadsheet of scores on a 0-5 system for each category the Board deemed important to the advancement of the organization. Wicker said that the Board would like to revise Winningham's employment contract with for meeting criteria outlined in the 2014 Strategic Plan that the Board will consider adopting at the November meeting. The Board would also consider adoption of a revised contract at the same meeting. Winningham thanked the Board for their support. 14. Adjourn The PEDC Board meeting adjourned at 9:08 p.m. with a motion from Ray Smith and seconded by Roger Thedford. The motion was unanimously passed. !(—'OrZ V Date Prosper ECONOMIC DEVELOPMENT CORPORATION DRAFT MINUTES Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd., Suite 50 Prosper, Texas 75078 Wednesday, November 20, 2013 - 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 Mayor Ray Smith, David Bristol, Gary Jackson and Roger Thedford. Board members Reno Jones and Jordan Simms were absent. PEDC Executive Director Robert Winningham, PEDC Economic Development Specialist Garrett Weaver and PEDC Economic Development Assistant Sam Blatt were also present. Guests included Town Finance Director Kent Austin and Deputy Mayor Pro -Tem Kenneth Dugger. 1. 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 from citizens. 2. Approval of Minutes from the Regular Meeting on October 23, 2013 Roger Thedford moved to approve the October 2013 Regular Meeting Minutes. The motion was seconded by Gary Jackson and was unanimously passed. 3. Approval of the PEDC Financial Reports for October 2013 and Take Any Additional Action Necessary Town Finance Director Kent Austin presented the October 2013 Financial Report to the Board. Austin noted an overcharge for a Texas Municipal League (TML) Worker's Compensation insurance payment. Austin added that this was an error and has been corrected. The correction is shown on the Balance Sheet under "Due from General Fund" and credited in the amount of $4,464.52, Austin said. He further indicated that the correct amount of $509.63 was entered and charged appropriately. David Bristol questioned where the $154,233.65 amount for "Sales Tax --- Receivable" on the Balance Sheet was derived when Sales Tax collected for October is shown equaling $80,942. Austin explained that the Sales Tax — Receivable figure comes from a two month accrual. He further explained that a two month accrual is used because sales tax receipts come as a result of sales activity from two months prior and that recording of the accrual is in compliance with the modified accrual basis of accounting, which is standard practice for government accounting. Gary Jackson commented that the Balance Sheet was an improvement from the previous version. Jackson questioned if there were any liabilities outstanding. Austin responded that it is an on-going process to determine outstanding liabilities outside of the ones already accounted for. Robert Winningham added that Garrett Weaver is currently creating one page abstracts for all of the PEDC's agreements. Winningham noted that he made adjustments to the "SUTA Expense", "Life InsurancelAD&D", "Liability (TML) Workers' Comp" and "TLM Prop. & Liab. Insurance" budget line items to cover for miscalculated cost projections. Winningham added that money was moved accordingly from other budget line items to cover those costs and that a budget amendment for additional funds was not required. Winningham explained that a request for payment of $55,000 was submitted by the Town Engineering Department to the PEDC earlier in the month to partially pay for drainage construction to satisfy a joint agreement between the Town, PEDC and the developer. Winningham noted that the Town was supposed to transfer payment for this project from PEDC funds in May but recently learned that the money never was transferred in FY 2013. Winningham added that this expense could be paid by either a budget amendment or through existing funds in Project Incentives line item in the FY2014 Budget. David Bristol proposed that the PEDC pay the expense from the Project Incentives line item in the FY2014 Budget to which the Board agreed. Gary Jackson moved to approve the October 2013 Financial Reports. The motion was seconded by David Bristol and was unanimously passed. PEDC Mimufes —page 2 November 20, 2013 4. Report of the PEDC Board Finance Subcommittee and Any Action on Recommendations from the Subcommittee Gary Jackson gave an overview of the November 11, 2013 meeting of the Finance Subcommittee and shared details on matters discussed at the meeting. Robert Winningham distributed a Cash Flow Sheet and presented it as an option to track incentive payments moving forward. He added that contingent incentives would be shown at the bottom of the sheet, as discussed at the November 11 Finance Subcommittee meeting. Jim Wicker suggested that the sheet should be outlined quarterly instead of yearly and that the sheet should also show future years instead of just the current year. David Bristol agreed and said that this will help better organize the PEDC's timely commitments and that future commitments, if not tracked, could ultimately catch the PEDC by surprise.. Wicker noted that Winningham has regularly scheduled meetings with Town Finance Director Kent Austin to ensure that the Financial Reports are accurate. Kenneth Dugger suggested adding a running total of incentives given to a project so that the Board will know exactly how much financial assistance as been provided to date. David Bristol moved to accept the report that was presented by the Finance Subcommittee. The motion was seconded by Gary Jackson and was unanimously passed. 5. 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 for the following: Board President Jim Wicker called the meeting into executive session at 6:37 p.m. • Retail Update Prosper Business Park Update • RFP Updates: Project Red VP / Project Bengal -Tiger / Project Five Star / Project Moto Roller Board President Jim Wicker reconvened the meeting into regular session at 7:52 p.m. 6. Take Any Action Necessary as a Result of Executive Session No action was taken at this time. 7. Discuss and Possibly Take Action on Won and Lost Projects Robert Winningham presented the first draft of the Won and Lost Project list. Jim Wicker explained that the list is a tool to determine why the PEDC won or lost a given project and how the PEDC can make improvements moving forward. Wicker added that the list will be distributed at each Board meeting and will remain on the agenda. No action was taken on this agenda item. 8. Town of Prosper Report Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper. 9. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events PEDC Executive Director Robert Winningham presented updates on projects on which the PEDC staff is working. 10. Consider and Take Action on 2014 Strategic Plan Jim Wicker presented the revised 2014 Strategic Plan. Ray Smith questioned if the Strategic Plan should be used as a specific measurement tool. Wicker responded that it could perhaps be used in that manner in the future. David Bristol asked Robert Winningham if the goals presented were achievable. Winningham responded affirmatively and said that he felt comfortable that the goals could be accomplished. Roger Thedford asked if there were any quantitative measures set for the goals presented. Winningham responded that it would be difficult to set such measures but the goals could PEDC Minutes —page 3 November 20, 2013 probably be quantified in some form. He added that it was imperative that business parks and office parks be developed in the near future so that there is office and industrial space to locate the new jobs created. Wicker believed that the goals would be challenging and that they could be judged by results. He also added that there are many different factors that go into development that are out of the PEDC's control. Overall, Wicker felt that the Strategic Plan provided a good general focus; however, it may be difficult to attach quantifiable benchmarks to the list of goals. Wicker concluded by asking if the goals presented are achievable even if they might be considered somewhat of a stretch. Winningham responded that he prefers to set high expectations and that yes, goals are achievable. Roger Thedford moved to approve the 2014 Strategic Plan. The motion was seconded by Gary Jackson and was unanimously passed. 11. Determine PEDC Board Meeting Date for December, 2013 After deliberation, it was determined and agreed upon that the date for the next PEDC Board Meeting would be December 18, 2013. 12. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.074; Deliberation of Personnel Matters related to the following: Board President Jim Wicker called the meeting into executive session at 8:47 p.m. m Revisions to Employment Contract with PEDC Executive Director Board President Jim Wicker reconvened the meeting into regular session at 9:10 p.m. 13. Take Any Action Necessary as a Result of Executive Session David Bristol moved to amend the Employment Contract with the Executive Director to include a `pay -for - performance' clause that will allow the Board to compensate the Executive Director additional pay in the amount of up to 10 -percent of his annual salary after the Board's Annual Performance Review of the Executive Director at the end of FY2014. 14. Adjourn The PEDC Board meeting adjourned at 9:12 p.m. with a motion from Ray Smith and seconded by David Bristol. The motion was unanimously passed. - ( 't. c V -'z o ['i Date Prosper ECONOMIC DEVELOPMENT CORPORATION DRAFT MINUTES Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd., Suite 50 Prosper, Texas 75078 Wednesday, December 18,2013 - 6:00 p.m. Call to Order and Announce a Quorum is Present Board Vice President David Bristol called the meeting to order at 6:00 p.m. Board members present were Mayor Ray Smith, Reno Jones, Jordan Simms and Roger Thedford. Board President Jim Wicker was absent. PEDC Executive Director Robert Winningham and Economic Development Specialist Garrett Weaver were also present. Guests included Town Manager Harlan Jefferson and Mayor Pro -Tem Meigs Miller. Board member Gary Jackson joined the meeting in progress. 1. Comments from Citizens (The EDC may receive input from citizens only on topics that are not listed on the meeting agenda) Guest Mayor Pro -Tem Meigs Miller commended the PEDC Board and Staff on their hard work and service to the Town. 2. Approval of Minutes from the Regular Meeting on November 20, 2013 Ray Smith moved to approve the November 2013 Regular Meeting Minutes. The motion was seconded by Roger Thedford and was unanimously passed. 3. Approval of the PEDC Financial Reports for November 2013 and Take Any Additional Action Necessary Reno Jones presented the November 2013 Financial Report to the Board. Jones complimented Town Finance Director Kent Austin and staff for doing a great job on revamping the financial reports. Jones noted that the PEDC should finish up the calendar year with around $2.1 million in reserves. Jones questioned the cell phone expense for the month because the expense seemed higher than usual. Robert Winningham noted that he had a contract for cell phone expenses with the Town and that he had been waiting for the Town to enact a policy to facilitate such contracts before submitting his and Garrett Weaver's cell phone expense reimbursements. As such, the cell phone expense owed to Winningham and Weaver appeared in the current fiscal year instead of the last fiscal year since the Town's cell phone policy was implemented in October 2013. Winningham further clarified that the cell phone expense incurred in November 2013 was for partial reimbursements to Winningham's cell phone charges dating back to his employment in August of 2012 and Weaver's cell phone charges dating back to his employment in April of 2013. Winningham noted that the cell phone expenses are now caught up and are current. David Bristol asked for more details regarding the cell phone policy to which Town Manager Harlan Jefferson explained the new cell phone policy to the Board that the Town recently created. Winningham noted that there will be some expenses paid for the Hwy 380 Corridor Development Forum that may be reflected in the Financial Reports for January or February but that the PEDC is well within its marketing budget for FY2014. Bristol noted that the Forum was the best -ever marketing event for Prosper that he recalled. Board members agreed. Winningham added that the PEDC staff is conducting extensive follow-up activity. Ray Smith moved to approve the November 2013 Financial Reports. The motion was seconded by Jordan Simms and was unanimously passed. 4. 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 for the following: PEDC Minutes - page 2 December 18, 1013 Board Vice President David Bristol called the meeting into executive session at 6:10 p.m. to discuss: • Retail Update • Prosper Business Park and Office Parks Update + Update on RFP's: Project Condor 250 Board Vice President David Bristol reconvened the meeting into regular session at 7:11 p.m. 5. Take Any Action Necessary as a Result of Executive Session No action was taken at this time. 6. Town of Prosper Report Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper. 7. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events PEDC Executive Director Robert Winningham presented updates on projects on which the PEDC staff is working. Winningham thanked the Board for their help and attendance at the Hwy 380 Corridor Development Event that occurred earlier in the month. Winningham presented each Board member with a poinsettia as token of gratitude for their service to the PEDC Board and Prosper community over the past year. 8. Determine PEDC Board Meeting Date for January, 2014 After deliberation, it was determined and agreed upon that the next PEDC Board Meeting would be held on Wednesday, January 15, 2014. 9. Adjourn The PEDC Board meeting adjourned at 7:20 p.m, with a motion from Ray Smith and seconded by Roger Thedford. Tkr.�otion was unanimously passed. /-�f 2"r� Gary 4dekson — PED)r Secretary Date