08.18.2021 PEDC MinutesP11CRAC)SPERTEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, August 18, 2021, 6:00 P. M.
Call to Order anti Announce a Quorum is Present
Board Vice President Jordan Simms called the meeting to order at 6:00 P.M. Board members present: Mayor
Ray Smith, Treasurer Roger Thedford, Secretary Don Perry, and Board Member and David Blom. President
David F. Bristol was present on conference call. Board member absent was: Reno Jones. Executive Director
Mary Ann Moon 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 June 16, 2021, PEDC board meeting.
Ray Smith made a motion to approve the minutes from the June 16, 2021, PEDC board meeting. The motion was
seconded by Roger Thedford and approved 5-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the months of June 2021 and July 2021. Take
any additional action necessary.
Roger Thedford overviewed and discussed the finances with the board and staff. Don Perry made a motion to
approve the PEDC Financials for the months of June 2021 and July 2021. The motion was seconded by Ray Smith
and approved 5-0 by all board members present.
4. Consider and Act on approval of PEDC Quarterly Investment Portfolio ending June 30, 2021.
Take any additional action necessary.
Roger Thedford overviewed and discussed the Investment Report with the board and staff. Ray Smith made a
motion to approve the PEDC Quarterly Investment Portfolio ending June 30, 2021. The motion was seconded by
David Blom and approved 5-0 by all board members present.
5. Consider and Act on approval to present FY 2021-2022 EDC Operating Budget to Council.
Roger Thedford overviewed the budget with the board and staff. Don Perry made a motion to approve to present
FY 2021-2022 EDC Operating Budget to Council. The motion was seconded by David Blom and approved 5-0
by all board members present.
6. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
Mary Ann Moon gave an update outlining an opportunity to seek an EDA (Economic Development
Administration) EAA (Economic Adjustment Assistance) Grant.
7. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, September 15, 2021.
The next PEDC Board Meeting is confirmed as Wednesday, September 15, 2021.
Board Vice President Jordan Simms recessed the regular meeting at 6:18 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
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.
PEDC Minutes —page 2
o Section 551.074; Deliberation of Personnel Matters
o Staffing of Prosper EDC office.
Board Vice President Jordan Simms called the meeting into Closed Executive Session at 6:18 P.M.
The PEDC Board met in Closed Executive Session from 6:18 P.M. to 7:29 P.M.
9. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
Board Vice President Jordan Simms reconvened the meeting into Open Session at 7:29 P.M.
No action was taken.
10. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Roger Thedford.
The PEDC Board meeting adjourned at 7:30 P.M.
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