12.19.12 PEDC-TC Joint MinutesRlr%SPER
OWN OF
Prosper is a place where everyone matters.
Minutes
Joint Meeting of the Prosper Town Council & Prosper
Economic Development Corporation
Prosper Municipal Chambers
108 W. Broadway
Prosper, Texas 75078
Wednesday, December 19, 2012
Meeting begins at 6:00 p.m.
1. Convene Prosper Economic Development Corporation Board Meeting by the PEDC
Board President Jim Wicker.
Board Members were present were: Jim Wicker, Board President; Reno Jones,
Treasurer; Ray Smith, Kevin Drown, David Bristol, Jordan Simms, and Gary
Jackson.
Absent: None
2. Convene Town Council Meeting by the Mayor.
Council Members Present: Ray Smith, Mayor; Meigs Miller, Mayor Pro Tem;
Kenneth Dugger, Deputy Mayor Pro Tem; Jason Dixon, Council Member; Danny
Wilson; Council Member; Curry Vogelsang, Council Member.
Absent: None
3. Convene into Joint Executive Session pursuant to Texas Government Code Section
551.087 Economic Development Deliberations: Discussion of Economic
Development incentives for Project Double J for 157 acres of mixed use development
located at Dallas North Tollway and Highway 380. Recessed into Executive Session
at 6:15 p.m. The Town Council and PEDC Board recessed into Joint Executive
Session.
4. Reconvene into open session from Joint Executive Session at 6:16 p.m. Deputy
Mayor Pro Tem Dugger made a motion to reconvene into open session at 7:00 p.m.
Motion seconded by Council Member Korbuly. Motion approved unanimously. The
PEDC moved to reconvene into open session at 7:01 p.m.
5. Adjournment of Town Council part of the meeting. Mayor Pro Tem Miller made a
motion to adjourn the Town Council portion at 7:03 p.m. Motion seconded by
Deputy Mayor Pro Tem Dugger. Motion approved unanimously.
6. Discussion and take action by PEDC Board of Directors to approve:
Economic Development Agreement with MSW Prosper 380 LP, a Texas limited
partnership for reimbursement of infrastructure to be constructed within and outside
of Tax Increment Financing Reinvestment Zone Number Two to be designated by the
Town Council. Reno Jones made a motion to approve. Motion seconded by Jordan
Simms. Motion approved unanimously.
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Infrastructure Reimbursement Agreement with the Town of Prosper for the PEDC
contribution to Tax Increment Financing Reinvestment Zone Number Two to be
designated by the Town Council.
Daniel Jones made a motion to approve as amended by exhibit. Motion seconded by
Jordan Sims. Motion approved unanimously.
7. Adjournment of PEDC Meeting. David Bristol made a motion to adjourn the meeting
at 7:05 p.m. Motion seconded by Ray Smith. Motion approved unanimously.
ATTEST:
David Bristol, Secretary
�. Special Called Meeting of the Town Council
6:00 p.m. on December 19, 2012 or immediately following the special called joint meeting of the
Prosper Economic Development Corporation Board of Directors
at 108 W. Broadway, Prosper, TX 75078.
1. Convene Special Called meeting. Council Member Wilson made a motion to reconvene
into open session. Motion seconded by Deputy Mayor Pro Tern Dugger. Motion
approved unanimously.
Town Council convened into Executive Session at 7:10 p.m.
Executive Session Section 551.087 Economic Development Deliberations: Discussion of
Economic Development incentives for Project Double J for 157 acres of mixed use
development located at Dallas North Tollway and Highway 380.
Town Council reconvened into open session at 8:55 p.m.
Deputy Mayor Pro Tern Dugger made a motion to reconvene into open session. Motion
seconded by Council Member Wilson. Motion approved unanimously.
2. Conduct public hearing for the designation of Tax Increment Financing Reinvestment
Zone, Number Two Town of Prosper.
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Deputy Mayor Pro Tern Dugger made a motion to open the public hearing. Council
Member Dixon seconded the motion. Motion approved unanimously.
There were no citizens present in support and/or opposition to the public hearing.
Deputy Mayor Pro Tern Dugger made a motion to continue the public hearing at the
January 22, 2013 regular Town Council Meeting. Motion seconded by Council Member
Dixon. Motion approved unanimously.
3. Consider and take action to approve ordinance designating Tax Increment Financing
Reinvestment Zone, Number Two Town of Prosper. No action taken on this item, public
hearing continued at the January 22, 2013 regular Town Council meeting. No action was
taken on this item.
4. Consider and take action to approve Infrastructure Reimbursement Agreement with the
Prosper Economic Development Corporation for the PEDC contribution to Tax
Increment Financing Reinvestment Zone Number Two, Town of Prosper. No action was
taken on this item.
5. Consider and take action to approve an inter local cooperation agreement with Collin
County for Collin County to participate and contribute to Tax Increment Financing
Reinvestment Zone Number Two, Town of Prosper. No action was taken on this item.
6. Consider and take action to approve a Development and Financing Agreement with
MSW PROSPER 380 LP, a Texas limited partnership for the reimbursement of the cost
of construction of public infrastructure to be constructed within Tax Increment Financing
Reinvestment Zone Number Two, Town of Prosper. No action was taken on this item.
7. Adjourn meeting — Deputy Mayor Pro Tern Dugger made a motion to adjourn the
meeting. Motion seconded by Council Member Wilson. Motion approved unanimously.
Meeting adjourned at 8:59 p.m.
ATTEST:
Recording Secretary_
PROVED:
( A
Ray Sm h Mayo
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