07.17.24 PEDC MinutesPROSPER- F1`XAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, July 17, 2024, 6:00 P.M.
Call to Order and Announce a Utioruin is Present
Board President Jordan Simms called the meeting to order at 6:06 P.M. Board members present were Treasurer
Ray Smith, Secretary Don Perry and board members Mayor David F. Bristol and Chad Gilliland. Board
member absent was Vice President David Blom. Executive Director Mary Ann Moon and Sr. Economic
Development Specialist Susanne Barney were present. No citizens were in attendance.
1. Comments from Citizens
None
2. Approval of Minutes from the June 19, 2024 board meeting.
Ray Smith made a motion to approve the minutes from the June 19, 2024 PEDC board meeting as presented. The
motion was seconded by Don Perry and was approved 5-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of June 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 Smith made a motion to approve the financial report for the month of June 2024 as presented. The
motion was seconded by David Bristol and approved 5-0 by all board members present.
4. Consider and Act on approval of the 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.
Ray Smith made a motion to approve the budget for presentation to the Town Council. The motion was seconded
by Chad Gilliland and approved 5-0 by all board members present.
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, August 21, 2024.
The next board meeting was confirmed to be Wednesday, August 21, 2024.
Board President Jordan Simms recessed the regular meeting at 6:31 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 6:31 P.M.
The PEDC Board met in Closed Executive Session from 6:31 P.M. to 7:43 P.M.
PEDC Minutes —page 2
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 7:43 P.M.
David Bristol made a motion to authorize the EDC Real Estate Committee to pursue acquisition in the downtown
area pursuant to the executive discussion. The motion was seconded by Chad Gilliland and approved 5-0 by all
board members present.
10. Adjourn
David Bristol made a motion to adjourn. The motion was seconded by Chad Gilliland.
The PEDC Boar eeting adjourned at 7:44 P.M.
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