07.28.2025 PEDC MinutesPROSPEKIA.'XAS
ECONOMIC DEVELOPMENT CORPORATION
Call to Order and Announce a Ouorum is Present
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Monday, July 28, 2025, 6:00 P.M.
Board Vice President Chad Gilliland called the meeting to order at 6:01 P.M. Board Secretary Don Perry,
Board Treasurer Ray Smith and board members Jeff Yates, Grant Mendeljian, and Mayor David F. Bristol
were present. No board members were absent. Executive Director Mary Ann Moon and Sr. Economic
Development Specialist Susanne Barney were present. Jordan Simms and Council members Chris Kern and
Amy Bartley were also in attendance.
1. Comments from Citizens
Jordan Simms thanked Mary Ann for her years of service to the PEDC.
2. Consider and Act on Approval of Minutes from June 23, 2025.
Ray Smith made a motion to approve the minutes as presented. The motion was seconded by Grant Mendeljian
and approved 6-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of June 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. He advised that funds are earning 4.4%. Healthcare claims are coming in higher than expected and
modification will be needed soon for both staff and the Town. Ray Smith made a motion to approve the financial
report for the month of June 2025 as presented. The motion was seconded by Don Perry and approved 6-0 by all
board members present.
4. Review and Discuss the DRAFT PEDC operating budget for FY 2025-2026.
The board reviewed and discussed the budget. The Town's sales tax % projection is 5% and the PEDC budget will
be adjusted to match.
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. She also reviewed the
plan for the new layout and refresh of our weekly newsletter.
7. Discuss the Town of Prosper Communication Policies for boards and commissions.
Refer to the Town of Prosper Communications and Community Engagement Plan.
8. Confirm or Change the Next PEDC Board Meeting scheduled for Monday, August 25, 2025.
The next board meeting was confirmed to be held on Monday, August 25, 2025.
9. 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.
PEDC Minutes — page 2
■ 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 Vice President Chad Gilliland recessed the regular meeting at 6:30 P.M.
Board Vice President Chad Gilliland called the meeting into Closed Executive Session at 6:30 P.M.
The PEDC Board met in Closed Executive Session from 6:30 P.M. to 8:55 P.M.
(Grant Mendeljian excused himself from the meeting at 8:45 P.M)
10. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
Board Vice President Chad Gilliland reconvened the meeting into Open Session at 8:55 P.M.
Don Perry made a motion to approve the demolition bid on a downtown property at 406 Pecan Street. The motion
was seconded by Ray Smith and approved 5-0 by all board members present.
Ray Smith made a motion to approve the creation of a search subcommittee to hire an Executive Director. The
subcommittee will be led by Chad Gilliland and will include David Bristol and Don Perry. The motion was
seconded by Jeff Yates and approved 5-0 by all board members present.
Chad Gilliland made a motion to approve the creation of a Process and Bylaws subcommittee consisting of Jeff
Yates, Ray Smith, David Bristol and two council members yet to be named. The motion was seconded by Ray
Smith and approved 5-0 by all board members present.
Don Perry made a motion to approve a Roadway, Design, Construction and Reimbursement Agreement between
the Town of Prosper, the Prosper Economic Development Corporation and Blue Star Land. The motion was
seconded by Chad Gilliland and approved 5-0 by all board members present.
Chad Gilliland made a motion to accept the resignation of Mary Ann Moon, Executive Director of the EDC. The
motion was seconded by Ray Smith and approved 5-0 by all board members present.
11. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by David Bristol and approved 5-0 by all board
NembgsAresent. The PEDC Board meeting adjourned at 8:59 P.M.
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