07.17.2019 PEDC Special MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
Special Called Meeting of the Prosper
Economic Development Corporation
130 N. Preston Rd., Suite 130
Prosper, Texas 75078
Wednesday July 17, 2019 - 5:30 P.M.
Call to Order and Announce a Ouorum is Present
Board President Jim Wicker called the meeting to order at 5:30 P.M. Board members present: Vice President
David Bristol, Mayor Ray Smith, Treasurer Roger Thedford, Secretary Jordan Simms. Board members absent:
Reno Jones and Don Perry. Mary Ann Moon, CEcD, FM, HLM was present. VP of Marketing and
Communications Darcy Schroer, and PEDC Assistant Susanne Barney were present. Council members present
were Jason Dixon and Jeff Hodges. Citizens present were Amy Brantley, Chris Kern and John Herring.
1. Comments from Citizens (The EDC may receive input from citizens only on topics that are not listed on the
meeting agenda)
No Comments were made.
2. Approval of Minutes from the June 19, 2019 Board Meeting.
Roger Thedford moved to approve the minutes as presented. The motion was seconded by David Bristol and
approved 5-0 by all board members present.
3. Approval of PEDC Financial Report for the month of June 2019, and Take any Additional Action
Necessary.
Roger Thedford reviewed the financial report with the board and staff. Ray Smith moved to approve the PEDC
Financial Report for the month of June 2019. The motion was seconded by Jordan Simms and approved 5-0 by all
board members present.
4. Approval of the PEDC Quarterly Investment Portfolio ending June 30, 2019.
Roger Thedford reviewed the report with the board and staff. No changes were made. Ray Smith moved to approve
the report as presented. The motion was seconded by David Bristol and approved 5-0 by all board members
present.
5. Discussion and Timeline to Develop FY 2019-2020 EDC Operating Budget for presentation to Council.
Mary Ann discussed the budget with board members and staff and recommended no changes. Finance Director
Kelly Neal will update the budget with her recommendations. The PEDC budget will have a final review at the
August 21, 2019 PEDC board meeting to be approved for presentation to the Town Council.
6. CEO's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
Mary Ann Moon updated the board and staff on her meetings with Town staff. Darcy Schroer updated the board
and staff on upcoming training sessions and out of office times of the EDC staff.
7. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, August 21, 2019.
The next PEDC Board Meeting is confirmed as Wednesday, August 21, 2019 at 6:00 P.M.
Board President Jim Wicker recessed the regular meeting at 5:48 P.M.
8. 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
PEDC Minutes — page 2
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 5:48 P.M.
The PEDC Board met in Executive Session from 5:48 P.M. to 5:58 P.M.
9. 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 5:58 P.M.
There was no action taken in regard to the Executive Session.
10. Adjourn
Ray Smith moved to adjourn. The motion was seconded by Jordan Simms.
The PEDC Board meeting adjourned at 5:58 P.M.
Jord imms — Secretary Date