09.27.23 PEDC MinutesPROSPER 'EXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, September 27, 2023, 6:00 P.M.
Call to Order and Announce a Quorum is Present
Board President Jordan Simms called the meeting to order at 6:01 P.M. Board members present were Vice
President David Blom, Treasurer Ray Smith, Secretary Don Perry, and board members Mayor David F. Bristol,
Roger Thedford and Chad Gilliland. No board members were absent. Executive Director Mary Ann Moon
and Sr. Economic Development Specialist Susanne Barney were present.
1. Comments from Citizens
No citizens were in attendance.
2. Approval of Minutes from the August 16, 2023 board meeting.
Ray Smith made a motion to approve the minutes from the August 16, 2023 PEDC board meeting as presented.
The motion was seconded by David F. Bristol and was approved 7-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of August 2023. Take any additional
action necessary.
Ray Smith overviewed the financial reports, investments, interest rates and sales tax numbers with the board and
staff. Roger Thedford made a motion to approve the financial reports for the month of August 2023 as presented.
The motion was seconded by David F. Bristol and approved 7-0 by all board members present.
4. Consider and act on approval of the incentive agreement between PEDC and a wine and entertainment
destination in downtown Prosper.
Ray Smith made a motion to approve the incentive agreement. The motion was seconded by Chad Gilliland and
approved 7-0 by all board members present.
5. Consider and act on approval of the incentive agreement between PEDC and a retailer and brewery in
downtown Prosper.
Ray Smith made a motion to approve the incentive agreement. The motion was seconded by Don Perry and
approved 7-0 by all board members present.
6. Consider and act on approval of the incentive agreement between PEDC and a food retailer in downtown
Prosper.
Ray Smith made a motion to approve the incentive agreement. The motion was seconded by Chad Gilliland and
approved 7-0 by all board members present.
New Businesses Update.
The board received a list of the newest businesses receiving their COs in Prosper, Tx.
8. 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.
9. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, October 18, 2023.
The next board meeting was changed to Wednesday, October 18, 2023.
Board President Jordan Simms recessed the regular meeting at 6:10 P.M.
10. Convene into Closed Executive Session Pursuant to Texas Government Code:
PEDC Minutes —page 2
■ 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.
Board President Jordan Simms called the meeting into Closed Executive Session at 6:10 P.M.
The PEDC Board met in Closed Executive Session from 6:10 P.M. to 7:20 P.M.
11. 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 7:20 P.M.
No action was taken.
12. Adjourn
Ray Smith made a t otion to adjourn. The motion was seconded by Roger Thedford.
Re PEDC Board ee 'ng adjourned at 7:21 P.M.
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