12.20.23 PEDC MinutesP-nr-%SPEK-TEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, December 20, 2023, 6:00 P.M.
Call to Order and Announce a Duoruin is Present
Board President Jordan Simms called the meeting to order at 6:04 P.M. Board members present were Vice
President David Blom, Treasurer Ray Smith, Secretary Don Perry, and board members Roger Thedford and
Chad Gilliland. Board member absent was Mayor David F. Bristol. Executive Director Mary Ann Moon and
Sr. Economic Development Specialist Susanne Barney were present. Bob Scott, Deputy Town Manager and
Chuck Ewings, Assistant Town Manager were also in attendance.
1. Approval of Minutes from the November 15, 2023 board meeting.
Ray Smith made a motion to approve the minutes from the November 15, 2023 PEDC board meeting as presented.
The motion was seconded by Chad Gilliland and was approved 6-0 by all board members present.
2. Consider and Act on approval of PEDC Financial Report for the month of November 2023. Take any
additional action necessary.
Ray Smith overviewed the financial reports, investments, interest rates and sales tax numbers with the board and
staff. Bob Scott explained the moving of funds from the PEDC bank account into Texpool Prime in order to
protect the funds. Ray Smith made a motion to approve the financial report for the month of November 2023 as
presented. The motion was seconded by Roger Thedford and approved 6-0 by all board members present.
3. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, January 17, 2023.
The next board meeting was confirmed to be Wednesday, January 17, 2024.
Board President Jordan Simms recessed the regular meeting at 6:05 P.M.
4. 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 propertyfor 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 6:05 P.M.
The PEDC Board met in Closed Executive Session from 6:05 P.M. to 8:09 P.M.
5. 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 8:09 P.M.
Ray Smith made a motion to approve PEDC funding of the lift station for the HEB location on Frontier Parkway.
The motion was seconded by Roger Thedford and approved 6-0 by all board members present.
Jordan Simms made a motion to approve a payment of $10,000 for improvements to the existing business, Spot
Pet Salon, located on North Coleman Street. The motion was seconded by Don Perry and approved 6-0 by all
board members present.
Jordan Simms made a motion to approve a charitable donation of $3,000 to Lovepacs, located at 711 Industry
Way. The motion was seconded by Ray Smith and approved 6-0 by all board members present.
PEDC Minutes —page 2
Ray Smith made a motion to approve funding for a downtown central trash dumpster for up to $100,000. The
motion was seconded by Chad Gilliland and approved 6-0 by all board members present.
Roger Thedford made a motion to approve a payment of $39,000 to demolish and clean up the PEDC-owned house
located 325 West First Street. The motion was seconded by Don Perry and approved 6-0 by all board members
present.
The PEDC board consensus was to give a 30-day extension on the contract to allow for inspection of the PEDC-
owned building located at 201 South Main Street.
6. Adjourn
Chad Gilliland made a motion to adjourn
The PEDC Board mpg adjourned at 8
The motion was seconded by Roger Thedford.
12 P.M.
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