05.19.2021 PEDC Minutes Meeting of the Prosper
Economic Development Corporation
PROS PERr EXAS 121 West Broadway Street
Prosper,Texas 75078
ECONOMIC DEVELOPMENT CORPORATION Wednesday, May 19, 2021 6:00 P. M.
Call to Order and Announce a Quorum is Present
Board President David F.Bristol called the meeting to order at 6:00 P.M. Board members present: Mayor Ray
Smith, Vice President Jordan Simms, Treasurer Roger Thedford, Secretary Don Perry, and Board Member
Reno Jones. Board Member David Blom was absent. Executive Director Mary Ann Moon, Director of
Marketing Jordyn Williams and Economic Development Specialist Susanne Barney were present. No citizens
were present.
1. Comments from Citizens
No comments were made.
2. Approval of Minutes from the April 21,2021 PEDC board meeting.
Ray Smith made a motion to approve the minutes from the April 21,2021 PEDC board meeting. The motion was
seconded by Roger Thedford and approved 6-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of April 2021.Take any additional
action necessary.
Roger Thedford overviewed and discussed the finances with the board and staff. Reno Jones made a motion to
approve the PEDC Financials for the month of April 2021. The motion was seconded by Jordan Simms and
approved 6-0 by all board members present.
4. Quarterly Investment Portfolio dated March 31,2021.
Roger Thedford overviewed and discussed the Quarterly Investment Portfolio with the board and staff.
5. Consider and Act on approval of the PEDC Annual Financial Statement and Auditor's Report for year
ended September 30,2020.
Roger Thedford overviewed and discussed the Annual Financial Statement and Auditor's Report with the board
and staff. Ray Smith made a motion to approve the report. The motion was seconded by Don Perry and approved
6-0 by all board members present.
6. Discuss the PEDC Mission Statement.
President David F. Bristol read the requirements regarding the mission statement from the PEDC bylaws. The
board and staff discussed the PEDC Mission Statement. Board consensus was to update the mission statement to
read: "Our mission is to promote, grow,and sustain a strong economy and quality of place for our community."
7. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
Mary Ann Moon gave an update on activities and events including the upcoming PEDC open house, and her
meeting with the Mayor, Planning Department and Engineering Department regarding the thoroughfare plan for
Mahard Parkway and Shawnee Trail.
8. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday,June 16, 2021.
The next PEDC Board Meeting is confirmed as Wednesday, June 16, 2021.
Board President David F.Bristol recessed the regular meeting at 6:45 P.M.
9. 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:
PEDC Minutes—page 2
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 David F. Bristol called the meeting into Closed Executive Session at 6:45 P.M.
The PEDC Board met in Closed Executive Session from 6:45 P.M.to 7:35 P.M.
10. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
Board President David F.Bristol reconvened the meeting into Open Session at 7:36 P.M.
No action was taken.
11. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Don Perry.
The PEDC Board meeting adjourned at 7:37 P.M.
� 'erry—Secretary Date