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05.16.2018 PEDC MinutesProsper ECONOMIC DEVELOPMENT CORPORATION Meeting of the Prosper Economic Development Corporation 170 N. Preston Rd., Suite 50 Prosper, Texas 75078 Wednesday May 16, 2018 - 6:00 P.M. Call to Order and Announce a Quorum is Present Board President Jim Wicker called the meeting to order at 6:05 p.m. Board members present were: Vice President David Bristol, Mayor Ray Smith, Treasurer Roger Thedford, and Board Member Reno Jones. Board member absent was: Secretary Jordan Simms. CEO Maher Maso, VP of Communications and Marketing Darcy Schroer, PEDC Assistant Susanne Barney, and Intern Gavyn Lauby were present. Comments from Citizens (The EDC may receive input from citizens only on topics that are not listed on the meeting agenda) Craig Andres, Town Council candidate, stated he was glad to be present. Gavyn Lauby thanked the EDC for the opportunity to intern and stated that it has been a privilege. Matt Moore of Claymore Engineering introduced himself and stated that he is moving to Prosper and is looking forward to being engaged in the Community. 2. Recognize and appreciate out going board member, Billy Hurst. Jim Wicker postponed item #2 until the June board meeting due to Billy Hurst being unable to attend. 3. Approval of Minutes from the Regular Meeting on April 18, 2018. Ray Smith moved to approve the minutes from April 18, 2018. The motion was seconded by Roger Thedford and was approved by all board members present. 4. Approval of PEDC Financial Report for the month of April 2018, and Take any Additional Action Necessary. Roger Thedford overviewed the finances. David Bristol asked for clarification regarding the sales tax percentage drop over the last two months. Staff will consult with the Finance Director, and the issue will be addressed during the June board meeting. Reno Jones moved to approve the PEDC Financial Report for the month of April 2018. The motion was seconded by Ray Smith and approved by all board members present. 5. Consider and act upon the approval of a resolution authorizing the acquisition of approximately .32 acres of land pursuant to the terms outlined in a Real Estate Contract between the Prosper Economic Development Corporation and Rickie Weems for property located at 302 West 1" Street in the Town of Prosper. Maher Maso overviewed the resolution. David Bristol moved to approve the resolution. The motion was seconded by Roger Thedford and approved by all board members present. 6. Consider and act upon the approval of a resolution authorizing the acquisition of approximately 7,000 square feet of land pursuant to the terms outlined in a Real Estate Contract between the Prosper Economic Development Corporation and Bartley Investments, LLC. for property located at 209 West Broadway in the Town of Prosper. Maher Maso overviewed the resolution. Roger Thedford moved to approve the resolution. The motion was seconded by Reno Jones and approved by all board members present. 7. Business Retention and Expansion Meetings Update. Susanne Barney gave an overview of the BRE meeting with Hair Masters. 8. Town of Prosper Report: Update on Various Activities and Projects by the Town. No report was given. PEDC Minittes — page 2 9. CEO's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events. Maher Maso gave an update to the Board including EDC moving into the new office, updating the council on EDC activities, building relationships with UNT. 10. Confirm the next Regularly Scheduled PEDC Board Meeting is Wednesday, June 20, 2018 at 6:00 P.M. The next regularly scheduled meeting of the PEDC is confirmed as Wednesday, June 20, 2018 at 6:00 P.M. Board President Jim Wicker recessed the regular meeting at 6:25 P.M. 11. Convene into Closed Executive Session Pursuant to Texas Government Code: o Section 551.087; Deliberation of Economic Development Negotiations to Deliberate Commercial and Financial Information and Economic Incentives relating to the following: o Retail Development o Office & Corporate Development o Section 551.074; Deliberation of Personnel Matters o Staffing of Prosper EDC office o Section 551.072; To deliberate the purchase, exchange, lease or value of real property located: o North of 380, west of Preston Rd., east of FM 1385, south of Frontier Parkway. Board President Jim Wicker called the meeting into Closed Executive Session at 6:30 P.M. The PEDC Board met in Executive Session from 6:30 P.M. to 7:39 P.M. 12. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations. Board President Jim Wicker reconvened the meeting into Open Session at 7:40 P.M. There was no action taken. 13. Adjourn The PEDC Board meeting adjourned at 7:40 P.M. David Bristol — Vice President Date PROSPER ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 18-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PROSPER ECONOMIC DEVELOPMENT CORPORATION, A TYPE A ECONOMIC DEVELOPMENT CORPORATION AND A TEXAS NON-PROFIT CORPORATION, AUTHORIZING THE EXECUTION OF A REAL ESTATE SALES CONTRACT AND ANY AND ALL DOCUMENTS NECESSARY TO ACQUIRE THE PROPERTY LOCATED AT 302 W. FIRST STREET IN THE TOWN OF PROSPER, COLLIN COUNTY, TEXAS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING FOR AN IMMEDIATE EFFECTIVE DATE. WHEREAS, Board of Directors of the Prosper Development Corporation, a Type A economic development corporation and a Texas non-profit corporation (hereinafter referred to as the "PEDC"), authorizes the execution of a real estate sales contract and any and all real estate closing documents necessary for the PEDC to acquire the property located at 302 W. First Street in the Town of Prosper, Collin County, Texas. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE PROSPER ECONOMIC DEVELOPMENT CORPORATION THAT: SECTION 1 All of the foregoing recitals are hereby found to be true and correct findings of the PEDC and are fully incorporated into the body of this Resolution. SECTION 2 The Board of Directors of the PEDC does hereby authorize the President of the PEDC to execute a real estate sales contract and any and all real estate closing documents necessary for the PEDC to acquire the property located at 302 W. First Street in the Town of Prosper, Collin County, Texas. SECTION 3 It is hereby declared to be the intention of the PEDC that the phrases, clauses, sentences, paragraphs and sections of this Resolution are severable, and if any phrase, clause, sentence, paragraph or section of this Resolution shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of this Resolution, since the same would have been enacted by the PEDC without the incorporation of this Resolution of any such unconstitutional phrase, clause, sentence, paragraph or section. SECTION 4 This Resolution shall become effective immediately upon its passage. PASSED, APPROVED AND ADOPTED by the Board of Directors of the Prosper Economic Development Corporation on this the 18th day of April, 2018. DPR(j"���� APPROVED: '�1 \ 6 #690900. Li Af � ■ %In o f Ji icker, President resident A Page 2 PROSPER ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 18-02 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PROSPER ECONOMIC DEVELOPMENT CORPORATION, A TYPE A ECONOMIC DEVELOPMENT CORPORATION AND A TEXAS NON-PROFIT CORPORATION, AUTHORIZING THE EXECUTION OF A REAL ESTATE SALES CONTRACT AND ANY AND ALL DOCUMENTS NECESSARY TO ACQUIRE THE PROPERTY LOCATED AT 209 W. BROADWAY STREET IN THE TOWN OF PROSPER, COLLIN COUNTY, TEXAS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING FOR AN IMMEDIATE EFFECTIVE DATE. WHEREAS, Board of Directors of the Prosper Development Corporation, a Type A economic development corporation and a Texas non-profit corporation (hereinafter referred to as the "PEDC"), authorizes the execution of a real estate sales contract and any and all real estate closing documents necessary for the PEDC to acquire the property located at 209 W. Broadway Street in the Town of Prosper, Collin County, Texas. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE PROSPER ECONOMIC DEVELOPMENT CORPORATION THAT: SECTION 1 All of the foregoing recitals are hereby found to be true and correct findings of the PEDC and are fully incorporated into the body of this Resolution. SECTION 2 The Board of Directors of the PEDC does hereby authorize the President of the PEDC to execute a real estate sales contract and any and all real estate closing documents necessary for the PEDC to acquire the property located at 209 W. Broadway Street in the Town of Prosper, Collin County, Texas. SECTION 3 It is hereby declared to be the intention of the PEDC that the phrases, clauses, sentences, paragraphs and sections of this Resolution are severable, and if any phrase, clause, sentence, paragraph or section of this Resolution shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of this Resolution, since the same would have been enacted by the PEDC without the incorporation of this Resolution of any such unconstitutional phrase, clause, sentence, paragraph or section. SECTION 4 This Resolution shall become effective immediately upon its passage. PASSED, APPROVED AND ADOPTED by the Board of Directors of the Prosper Economic Development Corporation on this the 18th day of April, 2018. �01111111111OF P�q �� g g Mb S ATTES A.., APPROVED: Wicker, President Page 2