04.17.2013 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
MINUTES
Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd., Suite 50
Prosper, Texas 75078
Wednesday, April 17, 2013 - 6:00 p.m.
Call to Order and Announce a uorum is Present
Board President Jim Wicker called the meeting to order at 6:06 p.m. Board members present were Jim
Wicker, Ray Smith, Gary Reno Jones, Jordan Simms, Kevin Drown, and David Bristol. Board member Gary
Jackson was absent. PEDC Executive Director Robert Winningham and PEDC Executive Assistant Beth
Larsen were present. Guests included Town Manager Harlan Jefferson and Prosper ISD Board member Mark
McGuire.
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 March 27, 2013
The March 27, 2013 Minutes were approved with a motion from Ray Smith and seconded by Reno Jones. The
motion passed unanimously.
3. Approval of PEDC Financial Reports
Reno Jones presented the March, 2013 Financials. Sales tax continues to increase albeit at a slightly lower rate
than the previous two months. Jordan Simms asked Robert Winningham why the expenses were so high for
March. Winningham did not know exactly why but said he would seek an answer. Town Manager Harlan
Jefferson explained that there is a slight lag between the time invoices are submitted, processed and reported to
the Board, and this may have accounted for more invoices being paid in March. The Town is working to
improve this situation by hiring additional personnel in the Finance Department to handle this workload. David
Bristol asked if the Town's accounting was cash -based or used encumbrances. Jefferson replied that at present,
the Town does not encumber invoices but that at some future date, the Town will likely acquire software to
improve accounting systems. Ray Smith made the motion to approve the Financials. The motion was seconded
by Jordan Simms and was unanimously passed.
4. Consider and Take Action on Amendments to FY2013 Budget
No action was taken 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 6:40 p.m.
• Prosper Business Park
Board President Jim Wicker reconvened the meeting into regular session at 7:10 p.m. No action was taken as a
result of the executive session.
PEDC Min utes —page 2
March 27, 2013
7. Town of Prosper Report
Town Manager Harlan Jefferson reported that the Tax Increment Reinvestment Zone No. 2 (Matthews
Southwest) application had been submitted to the Collin County Commissioners and that the Town staff was
awaiting feedback. Jefferson also reported that he was in the process of hiring a new Human Resources Director,
and that the Town and Prosper ISD have been meeting regularly on many issue with the intent of seeking
opportunities to work collaboratively.
5. Re -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 7:18 p.m.
• Retail Development
Board President Jim Wicker reconvened the meeting into regular session at 7:22 p.m.
6. Take Any Action Necessary as a Result of Executive Session
No action was taken at this time.
8. 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 PEDC staff is working.
Additionally, he reminded the Board about the upcoming Dallas Business Journal Best Deals 2012 awards
dinner and to RSVP with the PEDC office. Winningham announced that after the review period for applicants
for the PEDC Economic Development Specialist position, he had hired Garrett Weaver from retailer Tuesday
Morning. Weaver had previously worked for Winningham at the Allen Economic Development Corporation.
Weaver will begin work at the PEDC on April 29h.
9. Adjourn
The PEDC Board meeting adjourned at 7:35 p.m. with a motion from Ray Smith and seconded by David Bristol.
The motion was unanimously passed.
/1� 6- - 2Z.
David Bristol — PEDC Secretary Date