05.17.23 PEDC MinutesPROSPERrEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, May 17, 2023, 6:00 P.M.
Call to Order and Announce a Quorum is Present
Board President Jordan Simms called the meeting to order at 6:05 P.M. Board members present were Treasurer
Ray Smith, Secretary Don Perry, and board members Mayor David F. Bristol, Chad Gilliland, and Roger
Thedford. Board member absent was Vice President David Blom. Executive Director Mary Ann Moon and Sr.
Economic Development Specialist Susanne Barney were present.
1. Comments from Citizens
No comments.
2. Approval of Minutes from the April 19, 2023 board meeting.
Ray Smith made a motion to approve the minutes from the April 19, 2023 PEDC board meeting as presented. The
motion was seconded by Roger Thedford and was approved 6-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of April 2023. Take any additional
action necessary.
Ray Smith overviewed the financial reports, investments and interest rates with the board and staff. Roger
Thedford made a motion to approve the financial reports for the month of April 2023 as presented. The motion
was seconded by David F. Bristol and approved 6-0 by all board members present.
4. Review and Discuss the PEDC operating budget for FY 2023-2024.
The board and staff reviewed the operating budget for FY 2023-2024.
5. Consider and act on approval of Incentive Agreement between the PEDC and Cook Children's Medical
Center.
Chad Gilliland made a motion to approve the Incentive Agreement as presented. The motion was seconded by
Ray Smith and approved 6-0 by all board members present.
6. New Businesses Update.
The board received a list of the newest businesses receiving their COs in Prosper, Tx.
7. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
Mary Ann Moon presented her Administrative and Marketing report to the board and staff.
8. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, June 21, 2023.
The next board meeting was confirmed as Wednesday, June 21, 2023.
Board President Jordan Simms recessed the regular meeting at 6:27 P.M.
9. Convene into Closed Executive Session Pursuant to Texas Government Code:
• Section 551.087 —To discuss and consider economic development negotiations to deliberate commercial and
financial information and economic incentives related thereto.
• Section 551.072 — To discuss and consider purchase, exchange, lease, or value of real property for municipal
purposes and all matters incident and related thereto.
■ Section 551.074 — To discuss and consider personnel matters and all matters incident and related thereto.
PEDC Minutes —page 2
Board President Jordan Simms called the meeting into Closed Executive Session at 6:27 P.M.
The PEDC Board met in Closed Executive Session from 6:27 P.M. to 7:46 P.M.
10. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
Board President Jordan Simms reconvened the meeting into Open Session at 7:46 P.M.
No action was taken.
11. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Roger Thedford,
The PEDC Board meeting adjourned at 7:47 P.M.
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