05.29.24 PEDC MinutesFAQ
PROSPERTEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Monday, May 29, 2024, 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 member Mayor David F. Bristol.
Board member absent was Chad Gilliland. Executive Director Mary Ann Moon and Sr. Economic Development
Specialist Susanne Barney were present. Citizens in attendance were Valerie Rodriguez and John Hunt.
1. Comments from Citizens
Valerie Rodriguez introduced herself. She came from Frisco and lives in Frontier Estates. She joined Ladies in
Leadership in Prosper and wants to be involved in Prosper's future. John Hunt introduced himself and is interested
in what is happening with the development in Prosper and wants to learn more. He moved to Prosper in March
from Argyle.
2. Approval of Minutes from the April 29, 2024 board meeting.
Ray Smith made a motion to approve the minutes from the April 29, 2024 PEDC board meeting as presented. The
motion was seconded by David Blom and was approved 5-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of April 2024. Take any additional
action necessary.
Ray Smith overviewed the financial reports, investments, interest rates and sales tax numbers with the board and
staff. Ray recommended moving money to TexPool to improve FDIC coverage. Ray Smith made a motion to
approve the financial report for the month of April 2024 as presented. The motion was seconded by Don Perry
and approved 5-0 by all board members present.
4. Review and Discuss FY 2024-2025 PEDC operating budget. The board and staff reviewed and discussed the
FY 2024-2025 operating budget, which will be presented to the Town Council in September.
5. New Businesses Update.
The board received a list of the newest businesses receiving their COs in Prosper, Tx.
6. 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.
7. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, June 19, 2024.
The next board meeting was confirmed to be Wednesday, June 19, 2024.
Board President Jordan Simms recessed the regular meeting at 6:28 P.M.
8. 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.
Board President Jordan Simms called the meeting into Closed Executive Session at 6:28 P.M.
PEDC Minutes —page 2
The PEDC Board met in Closed Executive Session from 6:28 P.M. to 8:03 P.M.
9. 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 8:03 P.M.
No action was taken.
10. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Don Perry.
The PEDC Board meeting adjourned at 8:04 P.M.
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