06.16.2021 PEDC Minutes Meeting of the Prosper
Economic Development Corporation
pRospERTEXAS 121 West Broadway Street
Prosper, Texas 75078
ECONOMIC DEVELOPMENT CORPORATION Wednesday, June 16, 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 Members
Reno Jones and David Blom.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 May 19,2021,PEDC board meeting.
Ray Smith made a motion to approve the minutes from the May 19,2021,PEDC board meeting.The motion was
seconded by Roger Thedford and approved 7-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the month of May 2021.Take any additional
action necessary.
Roger Thedford overviewed and discussed the finances with the board and staff. Ray Smith made a motion to
approve the PEDC Financials for the month of May 2021. The motion was seconded by Jordan Simms and
approved 7-0 by all board members present.
4. Review and Discuss the PEDC Operating Budget for FY 2021-2022.
Roger Thedford overviewed the budget and discussed anticipating upcoming projects which will be reflected in
the budget numbers. Mary Ann Moon discussed budgeting for a new Special Events line item to help support
and promote upcoming downtown events. President David F. Bristol requested that the board review the budget
numbers, make any suggestions before the next board meeting. The PEDC budget will have a final review at
the August 18,2021, PEDC board meeting to be approved for presentation to the Town Council.
5. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
President David F. Bristol congratulated the PEDC staff for a successful open house and ribbon cutting for the
new PEDC office. The open house took place from 2:00 PM to 5:00 PM and the ribbon cutting took place at 5:30
PM on June 16, 2021. Mary Ann Moon gave an update on various activities and events. The board watched a
short power point presentation about the PEDC which will be made available for use at any speaking engagement
or meeting.
6. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday,July 21,2021.
The board consensus was to cancel the meeting scheduled for July 21,2021,due to board members and staff being
out of town, and lack of agenda items. The next PEDC Board Meeting is confirmed as Wednesday, August 18,
2021.
Board President David F.Bristol recessed the regular meeting at 7:11 P.M.
7. 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:
PEDC Minutes—page 2
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 7:11 P.M.
The PEDC Board met in Closed Executive Session from 7:11 P.M.to 7:41 P.M.
8. 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 7:41 P.M.
No action was taken.
9. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Reno Jones.
The PEDC Boa s eeting adjourned at 7:42 P.M.
V1111111‘ 1 -1(1- J. 1
D o n Pe wei Date