04.21.2025 PEDC MinutesPROSPERL-1- .XAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Monday, April 21, 2025, 6:00 P.M.
Call to Order and Announce a Quorum is Present
Board Treasurer Ray Smith called the meeting to order at 6:00 P.M. Board Secretary Don Perry and board
members Jeff Yates, Grant Mendeljian, and Mayor David F. Bristol were present. President David Blom and
Vice President Chad Gilliland were absent. Executive Director Mary Ann Moon and Sr. Economic
Development Specialist Susanne Barney were present. Citizen Ahammad M. and council members Marcus
Ray and Amy Bartley were also in attendance.
1. Comments from Citizens
Ahammad introduced himself and shared that he is opening a business in Prosper in August or September.
2. Consider and Act on Approval of Minutes from the March 26, 2025 board meeting.
David Bristol made a motion to approve the minutes from the March 26, 2025 board meeting contingent upon
removing the extra word "is" from item #1. The motion was seconded by Grant Mendeljian and approved 5-0 by
all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of March 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. Mayor Bristol will ask the Finance Director for clarification on a few of the line items being at a
higher % than the time elapsed in the budget year. Ray Smith made a motion to approve the financial report for the
month of March 2025 as presented. The motion was seconded by Don Perry and approved 5-0 by all board members
present.
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. A future meeting is
planned with the PEDC and the Planning Department regarding mixed use and hotel. A town park discussion is
in progress. The PEDC, the Prosper Chamber of Commerce and the Dream Team — a local, business support group
— are partnering to present a series of forums to educate local businesses on various topics to ensure their ongoing
success. The PEDC and the Chamber are also planning a Shop Local Summer Program this summer.
6. Confirm or Change the Next PEDC Board Meeting scheduled for Monday, May 19, 2025.
The next board meeting is confirmed to be held on Monday, May 19, 2025.
7. Recess into Closed Session in compliance with Section 551.001 et seq. Texas Government Code, as
authorized by the Texas Open Meetings Act, to deliberate regarding:
+ 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.
0 Section 551.074 To discuss and consider personnel matters and all matters incident and related thereto.
PEDC Minutes — page 2
Board Treasurer Ray Smith recessed the regular meeting at 6:18 P.M.
Board Treasurer Ray Smith called the meeting into Closed Executive Session at 6:18 P.M.
The PEDC Board met in Closed Executive Session from 6:18 P.M. to 6:42 P.M.
8. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
Board Treasurer Ray Smith reconvened the meeting into Open Session at 6:42 P.M.
No action was taken.
9. Adjourn
Jeff Yates made a motion to adjourn. The motion was seconded by Don Perry and approved 5-0 by all board
members present. The PEDC Board meeting adjourned at 6:43 P.M.
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