10.17.2018 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
Meeting of the Prosper Economic Development Corporation
130 N. Preston Rd., Suite 130
Prosper, Texas 75078
Wednesday October 17, 2018 - 6:00 P.M.
Call to Order and Announce a Ouorum is Present
Board President Jim Wicker called the meeting to order at 6:00 P.M. Board members present were: Vice
President David Bristol, Mayor Ray Smith, Treasurer Roger Thedford, Secretary Jordan Simms, Board
Member Reno Jones and Board Member Don Perry (arrived at 6:16). CEO Maher Maso, VP of
Communications and Marketing Darcy Schroer, Director of Finance Kelly Neal, and PEDC Assistant Susanne
Barney were present. Also in attendance were: John Herring and Jeff Yates.
1. Comments from Citizens (The EDC may receive input from citizens only on topics that are not listed on the
meeting agenda)
No comments.
2. Introduction and welcome of Don Perry to the PEDC Board of Directors.
The Board welcomed Don Perry.
3. Election of Officers to the Board of the PEDC.
Ray Smith moved to nominate: Jim Wicker for President
David Bristol for Vice President
Jordan Simms for Secretary
Roger Thedford for Treasurer
The motion was seconded by Reno Jones and approved by all board members present.
4. Approval of Minutes from the Special Meeting on September 20, 2018.
Ray Smith moved to approve the minutes from September 20, 2018. The motion was seconded by David Bristol
and was approved by all board members present.
5. Approval of PEDC Financial Report for the month of September 2018, and Take any Additional Action
Necessary.
Roger Thedford and Kelly Neal overviewed the financial report. Jordan Simms moved to approve the PEDC
Financial Report for the month of September 2018. The motion was seconded by Roger Thedford and approved
by all board members present.
6. Consider and act upon amending Prosper EDC FY 2017-2018 Adopted Budget.
Kelly Neal overviewed the amendment for the board. David Bristol moved to approve the amendment to the
Prosper EDC FY 2017-2018 Adopted Budget. The motion was seconded by Reno Jones and approved by all board
members present.
7. Consider and act on an Economic Incentive payment to Albin Roach, PLLC.
Maher Maso and Darcy Schroer reviewed the agreement with the board. Jeff Yates, corporate attorney for Albin
Roach, PLLC, introduced himself and spoke regarding the firm and compliance measures met as a tenant at 209 S
Preston Road.
Reno Jones moved to approve the one-time incentive payment to Albin Roach, PLLC, in the full amount of
$8730.00. The motion was seconded by Ray Smith and approved by all board members present.
8. Business Retention and Expansion Meetings Update.
Susanne Barney provided an update to the board regarding local business meetings in October 2018.
PEDC Minutes —page 2
9. CEO's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
Maher Maso and Darcy Schroer updated the Board on activities and upcoming events including the proposed Hwy
380 bypass, the Chamber of Commerce Banquet scheduled for October 18, 2018, property improvements for land
at 209 W Broadway, and the Bisnow Platinum Corridor Event that was held on October 4, 2018.
10. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, November 21, 2018.
Board President Jim Wicker postponed item #10 until after Executive Session.
Board President Jim Wicker recessed the regular meeting at 6:34 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 6:34 P.M.
The PEDC Board met in Executive Session from 6:34 P.M. to 8:37 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 8:37 P.M.
There was no action taken in regard to the Executive Session.
Item #10 was discussed and the board consensus is that the next scheduled meeting of the PEDC will be held on
Wednesday, November 14, 2018 at 6:00 P.M.
13. Adjourn
Ray Smith moved to adjourn. The motion was seconded by Roger Thedford.
The PEDC Board meeting adjourned at 8:38 P.M.
Y,
Jordan ' ms - Secretary Date
PROSPER ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION 18-04
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PROSPER
ECONOMIC DEVELOPMENT CORPORATION AUTHORIZING DARCY
SCHROER AS A SIGNATORY ON ANY DOCUMENTATION ON BEHALF OF
THE PROSPER ECONOMIC DEVELOPMENT CORPORATION; MAKING
FINDINGS; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, periodically the Prosper Economic Development Corporation ("PEDC")
updates the list of specific individuals authorized to perform certain financial transactions on
the PEDC's behalf; and
WHEREAS, it is the intent of the PEDC to authorize Darcy Schroer to be an approved
signatory, to execute any and all documentation on behalf of the PEDC, and to take all appropriate
and necessary actions relative to the PEDC's financial, legal and general operational affairs; and
WHEREAS, the PEDC Board of Directors agrees that authorizing Darcy Schroer to
undertake the foregoing on behalf of the PEDC is in the best interests of the PEDC.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
PROSPER ECONOMIC DEVELOPMENT CORPORATION THAT:
SECTION 1
The findings set forth above are incorporated into the body of this Resolution as if fully set
forth herein.
SECTION 2
Darcy Schroer is hereby authorized by the Board of Directors to execute any and all
documents on behalf of the PEDC, including but not limited to bank accounts, financial accounts,
legal documents, payroll documentation and any other documentation related to the PEDC and
its operations. It is the intent of the Board of Directors that this authority shall be broadly construed
to allow Darcy Schroer to execute documentation on behalf of the PEDC.
SECTION 3
Any and all resolutions, rules, regulations, policies, or provisions in conflict with the
provisions of this Resolution are hereby repealed and rescinded to the extent of any conflict
herewith.
SECTION 4
This Resolution was approved by the Board of Di
Development Corporation on 14th day of November, 2018.
ATT ST:
Jordan Sir`nms, Secretary
of the Prosper Economic
�r, President
Board of Directors Resolution --Page 1