04.05.06 PEDC Minutes MINUTES
Special Meeting of the Economic
Development Corporation
121 W. Broadway Street, Prosper, Texas
Wednesday, April 5, 2006 - 7:00 p.m.
1. Call to Order/Roll Call.
Meeting was called to order by PEDC President Ray Smith at 7:00 p.m. All members were present.
Also in attendance was PEDC Executive Director Karen Gandy.
2. Recessed into Closed Session.
The Board immediately recessed into closed session.
In compliance with Section 551, Texas Government Code, to wit: To discuss information that the
EDC has received from business projects that the EDC seeks to locate, stay or expand in the Town and
with which the EDC is conducting economic development negotiations.
Motion by Bob Luckock; seconded by Jim Campbell to reconvene into regular session. Motion carried
(5-0).
3. Board reconvened into regular session at 7:40 p.m.
Motion made by Jim Campbell; seconded by Bob Luckock to recommend to the Town Council
approval of the Memorandum of Understanding discussed in closed session and direct Staff to initiate
the TIRZ process, including preparation of formal agreements by legal counsel. Motion carried (4-0-1).
4. Adjourned.
The Board adjourned at 7:48 p.m.
_________________________________________ ____________________________________
Bob Luckock, Secretary Date:
Minutes for Prosper EDC Meeting – March 22, 2006 Page 1