02.16.22 PEDC MinutesPROSPERTEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, February 16, 2022, 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 were, Mayor
Ray Smith, Vice President Jordan Simms, Treasurer Roger Thedford, board members David Blom, and Chad
Gilliland. Board member absent was Secretary Don Perry. Executive Director Mary Ann Moon, Marketing
Director Jordyn Williams and Sr. 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 December 15, 2021, PEDC board meeting.
Chad Gilliland made a motion to approve the minutes from the December 15, 2021, PEDC board meeting. The
motion was seconded by Ray Smith and approved 6-0 by all board members present.
3. Consider and Act on approval of PEDC Financial Report for the months of December 2021 and January
2022. Take any additional action necessary.
Roger Thedford overviewed the financial reports with the board and staff. Ray Smith made a motion to approve
the financial reports for the months of December 2021 and January 2022. The motion was seconded by Jordan
Simms and approved 6-0 by all board members present.
4. Consider and Act on approval of PEDC Quarterly Investment Portfolio ending December 31, 2021.
Take any additional action necessary.
Roger Thedford overviewed the Quarterly Investment Portfolio ending December 31, 2021 with the board and
staff. Ray Smith made a motion to approve the Quarterly Investment Portfolio. The motion was seconded by
Chad Gilliland and approved 6-0 by all board members present.
5. Review and Discuss the updated investment policy approved by Council on January 25, 2022.
Roger Thedford reviewed the updates with the board and staff.
6. New Businesses Update.
The board was provided with a list of the newest businesses opening in Prosper, Tx.
7. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
Mary Ann Moon presented her Administrative and Marketing report to the board and staff.
8. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, March 16, 2022.
The next board meeting was confirmed as Wednesday, March 16, 2022.
Board President David F. Bristol recessed the regular meeting at 6:26 P.M.
9. Convene into Closed Executive Session Pursuant to Texas Government Code:
• Section 551.087 — To discuss and consider economic development negotiations to deliberate commercial and
financial information and economic incentives related thereto.
Section 551.072 — To discuss and consider purchase, exchange, lease, or value of real property for municipal
purposes and all matters incident and related thereto.
PEDC Minutes —page 2
Section 551.074 — To discuss and consider personnel matters and all matters incident and related thereto.
Board President David F. Bristol called the meeting into Closed Executive Session at 6:26 P.M.
The PEDC Board met in Closed Executive Session from 6:26 P.M. to 8:09 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 8:09 P.M.
Jordan Simms made a motion to approve payment to board members for real estate services on a transaction -by -
transaction basis. Services must be approved by the Board prior to being performed. The motion was seconded by
David Blom and approved 5-0 by all board members present with Roger Thedford abstaining.
11. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Roger Thedford.
The PEDC Board meeting adjourned at 8:17 P.M.
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