03.26.2025 PEDC MinutesPROSPEK- FEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, March 26, 2025, 6:00 P.M.
Call to Order and Announce a Quorum is Present
Board President David Blom called the meeting to order at 6:02 P.M. Board members present were Vice
President Chad Gilliland (arrived at 6:03), Treasurer Ray Smith, Secretary Don Perry and board members Jeff
Yates, and Mayor David F. Bristol. Grant Mendeljian was absent. Executive Director Mary Ann Moon and Sr.
Economic Development Specialist Susanne Barney were present.
1. Comments from Citizens
No citizens were present.
2. Consider and Act on Approval of Minutes from the February 19, 2025 board meeting.
Ray Smith made a motion to approve the minutes from the February 19, 2025 board meeting. The motion was
seconded by Jeff Yates and approved 6-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of February 2025. Take any
additional action necessary.
Ray Smith overviewed the financial reports, investments, interest rates, Texpool and sales tax numbers with the
board and staff. Ray Smith made a motion to approve the financial report for the month of February 2025 as
presented. The motion was seconded by David F. Bristol and approved 6-0 by all board members present. Mayor
Bristol noted that the Annual Comprehensive Financial Report was accepted by the Town as a clean audit.
4. New Businesses Update.
The board received a list of the newest businesses receiving their COs in Prosper, Tx.
5. 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.
6. Confirm or Change the Next PEDC Board Meeting scheduled for Monday, April 21, 2025.
The next board meeting is confirmed to be held on Monday, April 21, 2025.
Board President David Blom recessed the regular meeting at 6:14 P.M.
7. Convene into Closed Executive Session Pursuant to Texas Government Code:
o 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 David Blom called the meeting into Closed Executive Session at 6:15 P.M.
The PEDC Board met in Closed Executive Session from 6:15 P.M. to 7:42 P.M.
8. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
PEDC Minutes — page 2
Board President David Blom reconvened the meeting into Open Session at 7:42 P.M.
No action was taken.
9. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Jeff Yates and approved 6-0 by all board
members present. The PEDC Board meeting adjourned at 7:43 P.M.
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