03.16.22 PEDC MinutesPROSPERrEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, March 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, Treasurer Roger Thedford, Secretary Don Perry board members David Blom, and Chad Gilliland
(6:05 arrival). Board member absent was Vice President Jordan Simms. Executive Director Mary Ann Moon
and Sr. Economic Development Specialist Susanne Barney were present. No citizens were present.
1. Comments from Citizens
No comments were made.
Approval of Minutes from the February 16, 2022, PEDC board meeting.
Ray Smith made a motion to approve the minutes from the February 16, 2022, 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 month of February 2022. Take any
additional action necessary.
Roger Thedford overviewed the financial report with the board and staff. Ray Smith made a motion to approve
the financial report for the month of February 2022. The motion was seconded by Don Perry and approved 5-0 by
all board members present.
4. New Businesses Update.
The board was provided with a list of the newest businesses opening in Prosper, Tx.
5. 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, including:
Planning Meetings; incentive programs; new businesses; downtown design guidelines; upcoming developer
meeting; possibility to support fundraising events for local non -profits.
6. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, April 20, 2022.
The next board meeting was confirmed as Wednesday, April 20, 2022.
Board President David F. Bristol recessed the regular meeting at 6:28 P.M.
7. 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.
• 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 6:28 P.M.
The PEDC Board met in Closed Executive Session from 6:29 P.M. to 7:26 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 7:26 P.M.
PEDC Minutes —page 2
Mayor Ray Smith made a motion to approve incentives for 1418 Coffee and 308 Broadway Retail projects, and to
give Executive Director Mary Ann Moon authority to request attorney Pete Smith to prepare the documents. The
motion was seconded by Roger Thedford and approved 6-0 by all board members present.
9. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by David Blom.
The PEDC BoONnieetin4g adjourned at 7:28 P.M.
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