01.15.2014 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
DRAFT MINUTES
Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd., Suite 50
Prosper, Texas 75078
Wednesday, January 15, 2014 - 6:00 p.m.
Call to Order and Announce a Ouorum is Present
Board President Jim Wicker called the meeting to order at 6:02 p.m. Board members present were Mayor
Ray Smith, Reno Jones, Jordan Simms, David Bristol and Roger Thedford. Board Secretary Gary Jackson
joined the meeting in progress. PEDC Executive Director Robert Winningham, Economic Development
Specialist Garrett Weaver and Economic Development Assistant Sam Blatt 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 December 18, 2013
Ray Smith moved to approve the December 2013 Regular Meeting Minutes. The motion was seconded by
Jordan Simms and was unanimously passed.
3. Approval of the PEDC Financial Reports for December 2013 and Take Any Additional Action Necessary
Reno Jones presented the December 2013 Financial Reports to the Board. Jones noted that revenues for the
month were average for this time of year and that the PEDC paid $55,000 out of "Project Incentives" to satisfy
the obligation for the Prosper Town Center retaining wall per the agreement made between the Town, PEDC and
the developer in 2012. Ray Smith questioned if the developer had finished building the retaining wall yet as
stipulated in the aforementioned agreement to which Jones replied negatively but added that the developer is
actively working to get it completed.
Robert Winningham noted that Town Accounting Manager Trish Featherston will combine the "Telephone" and
"Cell Phone" expense line items for next month's Financial Report. Winningham added that the combination of
the two line items would simplify bill paying and would better organize the monthly financial reports.
Reno Jones moved to approve the December 2013 Financial Reports. The motion was seconded by Roger
Thedford and was unanimously passed.
4. Discuss and Possibly Take Action on Promotional Video for Prosper EDC
Robert Winningham explained to the Board that Town Council Member Danny Wilson inquired about doing a
promotional video on Prosper. Winningham noted that this would be a good idea since the previous promotional video
that was done is now almost two years old. Winningham also noted that the PEDC website needs to be updated and that
staff has already met with website administrator Colby Nate on making revisions to the website that are within the
PEDC's budget. Winningham added that staff would look into implementing a property database onto the website to
help market available space in Prosper to prospects. Jim Wicker noted that staff presented similar ideas in the past but
they never came into fruition. Wicker added that he agrees and supports the idea to produce a promotional video and to
revamp the PEDC website. Winningham stated that post -marketing efforts for events such as the Hwy 380
Development Forum and other events that will occur in the future, the PEDC should have a more current and user-
friendly website.
In light of the fact that professionally produced videos can cost upwards of $10,000, Wicker gave the idea of utilizing
students from Prosper High School to assist in production of a promotional video since they have access to state-of-the-
art video equipment. The Board agreed that getting Prosper High School students involved in the production of a
promotional video on Prosper would be beneficial to both the students and the PEDC. The Board could also make a
contribution to a Prosper High School Broadcasting Department scholarship for the students' time and efforts.
PEDC Minutes —page 2
January 15, 2014
On the topic of the PEDC website, Reno Jones noted that websites today are like business cards and that the
PEDC website needs an edge. Winningham displayed a website for the River Ridge Commerce Center
(www.riverridgecc.com), based in Indiana, and all of its functions. David Bristol asked who is currently in charge of
the PEDC website to which Winningham responded that the person overseeing the website is Colby Nate, who also
works on other municipal websites in the area. Bristol added that the PEDC should move forward with updating news,
photos and other items on the website. Wicker suggested that the PEDC consider hiring a web developer that could
create a website that would help Prosper stand out above surrounding communities. The Board agreed that any
opportunity to get ahead of the competition should be pursued.
After discussion it was determined that no action was necessary at this time.
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 6:22 p.m. to discuss:
• Grocery Store(s) Update
• Retail Update
• Prosper Business Park and Office Parks Update
Board President Jim Wicker reconvened the meeting into regular session at 8:07 p.m.
6. Take Any Action Necessary as a Result of Executive Session
No action was taken at this time.
7. Town of Prosper Report
Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper.
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 added that he will be participating in the Town Council's strategic planning workshop with the Town
Manager and department heads on January 291h
9. Determine PEDC Board Meeting Date for February, 2014
After deliberation, it was determined and agreed upon that the next PEDC Board Meeting would be held on Wednesday,
February 19, 2014.
10. Adjourn
The PEDC Board meeting adjourned at 8:13 p.m. with a motion from Reno Jones and seconded by David
Bristol. The motion was unanimously passed.
Date