03.17.2021 PEDC Minutes Meeting of the Prosper
Economic Development Corporation
PROS PEITEXAS 250 W. First St.
Town Council Executive Session Room
ECONOMIC DEVELOPMENT CORPORATION Prosper,Texas 75078
Wednesday, March 17, 2021 6:00 P. M.
Call to Order and Announce a Quorum is Present
Board President Jim Wicker called the meeting to order at 6:05 P.M. Board members present: Mayor Ray
Smith, Vice President David Bristol, Treasurer Roger Thedford, Secretary Jordan Simms, and Board
Members Reno Jones and Don Perry. No Board Members were absent. Executive Director Mary Ann Moon,
Director of Marketing Jordyn Williams and Economic Development Specialist Susanne Barney were present.
Dr.Holly Ferguson PISD Superintendent was also present.
1. Comments from Citizens
No citizen comments were made.
2. PISD Superintendent Holly Ferguson introduction to the Board of Directors and staff.
Dr. Holly Ferguson introduced herself and gave a power point presentation about her connections to Prosper,and
information about the PISD, such as:
• PISD has been the number one employer in Prosper for many years
• It has won the top 100 places to work award for seven years in a row
• It has a popular culinary program
• The substantial growth of student enrollment and staff employment
• By 2030,PISD is projected to have 42,979 students enrolled
• PISD bought the Mahard facility which will hold some of the administration staff
• Many of Prosper's residents moved to Prosper because of the great school system
• PISD serves Prosper, and parts of Frisco,McKinney,Denton County,and Celina
3. Election of officers to the board of the PEDC.
Board President Jim Wicker moved item#3 until after Executive Session.
4. Approval of Minutes from the January 20,2021 PEDC board meeting.
Ray Smith made a motion to approve the minutes from the January 20, 2021 PEDC board meeting. The motion
was seconded by Jordan Simms and approved 7-0 by all board members present.
5. Consider and Act on approval of PEDC Financial Report for the months of January 2021 and February
2021. Take any additional action necessary.
Roger Thedford overviewed and discussed the finances with the board and staff. David Bristol made a motion to
approve the PEDC Financials for the months of January 2021 and February 2021. The motion was seconded by
Don Perry and approved 7-0 by all board members present.
6. Consider and Act on approval of PEDC Quarterly Investment Portfolio ending December 31,2020.
Take any additional action necessary.
Roger Thedford overviewed and discussed the Investment portfolio with the board and staff. Ray Smith made a
motion to approve the portfolio. The motion was seconded by Reno Jones and approved 7-0 by all board members
present.
7. Discuss and Review the updated investment policy approved by Council on January 26, 2021.
The board reviewed the investment policy. No action was needed.
8. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
No report was given.
PEDC Minutes—page 2
9. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday,April 21, 2021.
The next PEDC Board Meeting is confirmed as Wednesday,April 21, 2021.
Board President Jim Wicker recessed the regular meeting at 7:08 P.M.
10. 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 551.072; Deliberation of 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.
o Section 551.074; Deliberation of Personnel Matters
o Staffing of Prosper EDC office.
Board President Jim Wicker called the meeting into Closed Executive Session at 7:08 P.M.
The PEDC Board met in Closed Executive Session from 7:08 P.M.to 7:24 P.M.
11. 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 7:24 P.M.
Ray Smith moved to authorize the board president to approve the purchase of property located in Prosper Texas;
North of 380, west of Preston Rd., east of FM 1385, south of Frontier Parkway. The motion was seconded by
Don Perry and approved 6-0 with Reno Jones abstaining from the vote.
Item#3. Election of officers to the board of the PEDC.
Ray Smith moved to nominate David Bristol for President; Jordan Simms for Vice President; Don Perry for
Secretary; and Roger Thedford for Treasurer. The motion was seconded by Reno Jones and approved 7-0 by all
board members present.
Jim Wicker announced his resignation from the PEDC board after serving for 13 years.
12. Adjourn
Jim Wicker made a motion to adjourn. The motion was seconded by Ray Smith.
The PEDC '•-rd meeting adjourned at 7:32 P.M.
Nt\I
•
Pr", e47i Secretary Date
Election of PEDC Board Officers
2019-2020 2020-2021
Title Name Name
President Jim Wicker David Bristol
Vice President David Bristol Jordan Simms
Secretary Jordan Simms Don Perry
Treasurer Roger Thedford Roger Thedford
Per the By-Laws of the Prosper Economic Development Corporation (PEDC),
officers are to be elected each year and are to serve a one-year term, or until the
Board chooses to hold a subsequent election.