02.19.2014 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
MINUTES
Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd., Suite 50
Prosper, Texas 75078
Wednesday, February 19, 2014 - 6:00 p.m.
Call to Order and Announce a Quorum is Present
Board President Jim Wicker called the meeting to order at 6:05 p.m. Board members present were Mayor
Ray Smith, Reno Jones, Jordan Simms, David Bristol and Gary Jackson. Board member Roger Thedford
was absent. 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 January 15, 2014
Jordan Simms moved to approve the January 2014 Regular Meeting Minutes. The motion was seconded by Ray
Smith and was unanimously passed.
3. Approval of the PEDC Financial Reports for January 2014 and Take Any Additional Action Necessary
Reno Jones presented the January 2014 Financial Reports to the Board. Jones commented that the report was
accurate and that the Town Finance Director has greatly improved the quality of the Financial Reports. He noted
that the PEDC has collected $283,029 in sales tax plus interest in this fiscal year and that the cash balance is a
little over $2.1 million.
Gary Jackson questioned if it is possible to pro rate the available budget on the Financial Reports to account for
encumbered funds and if we can update liabilities and future commitments to reflect this. Robert Winningham
responded that this might be possible but will check with the Town Finance Director and staff.
Ray Smith moved to approve the January 2014 Financial Reports. The motion was seconded by David Bristol
and was unanimously passed.
4. Approval of PEDC Quarterly Investment Report for Period Ending December 31, 2013
Reno Jones presented to the Board the Quarterly Investment Report-EDC Portfolio as submitted by the Town of Prospe
Finance Department.
Gary Jackson moved to approve the PEDC Quarterly Investment Report-EDC Portfolio and to grant Board Treasurer
Reno Jones permission to sign the document on behalf of the Board. The motion was seconded by Ray Smith and was
unanimously approved.
5. Discuss and Possibly Take Action on PEDC Strategic Plan for 2014
Robert Winningham presented the PEDC Strategic Plan for 2014 and printed objectives distributed by the Town
Secretary during the Town's recent strategic planning session. Winningham noted that the PEDC's Strategic Plan
dovetails with the Town's. Jim Wicker noted that the PEDC's goals and objectives in the Town's Strategic Plans
appear to differ slightly from the PEDC's Strategic Plan that was adopted by the Board. Jordan Simms questioned the
degree of difference there was between the two plans. David Bristol requested that two documents be presented to the
Board in the form of a redline comparison. Wicker summarized by asking Staff to highlight and summarize the
differences between the Strategic Plan for the PEDC outlined by Town Council and the Strategic Plan for the PEDC
outlined by the PEDC Board. The board decided to table this item and resume discussion at the next regularly
scheduled PEDC Board Meeting.
PEDC Minutes - page?
Februmy 19, 2014
6. Convene into Closed Executive Session Pursuant to:
6.1. Texas Government Code, Section 551.072; Deliberation Regarding Real Property to deliberate the purchase,
exchange, lease, or value of real property relating to the development of a proposed Prosper Business Park
6.2. Texas Government Code, Section 551.087; Deliberation of Economic Development Negotiations to deliberate
Commercial and Financial Information and Economic Incentives relating to the following:
Board President Jim Wicker called the meeting into executive session at 6:26 p.m. to discuss:
• Grocery Store(s) and Retail Update
• RFP Updates: Project One Heart i Project Gympak Tee
Board President Jim Wicker reconvened the meeting into regular session at 8:10 p.m.
7. Reconvene into Open Session and take any action necessary as a result of Closed Session deliberations
No action was taken.
8. Discuss and Possible Take Action on Won and Lost Projects
No action was taken.
9. Town of Prosper Report
Mayor Ray Smith gave an update on various projects and issues for the Town of Prosper.
10. 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.
11. Determine PEDC Board Meeting Date for March, 2014
After deliberation, it was determined and agreed upon that the next PEDC Board Meeting would be held on Wednesday
March 19, 2014.
12. Adjourn
The PEDC Board meeting adjourned at 8:22 p.m. with a motion from Ray Smith and seconded by David Bristol.
The motion was passed on a majority.
Date