04.20.22 PEDC Minutesw�
PY311-%SPERTEXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, April 20, 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, Vice
President Jordan Simms, Mayor Ray Smith, Treasurer Roger Thedford, Secretary Don Perry board member
Chad Gilliland (6:01 arrival). Board member absent was David Blom. 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.
2. Approval of Minutes from:
March 16, 2022, PEDC board meeting
March 30, 2022 special called meeting
Ray Smith made a motion to approve the minutes from the March 16, 2022, PEDC board meeting and the March
30, 2022 special called 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 March 2022. Take any
additional action necessary.
Roger Thedford requested that item #3 be postponed until the next meeting in order to obtain more information
from the Finance Director regarding sales tax numbers.
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:
The four upcoming downtown events, the Chamber of Commerce Vision meeting that was held on Monday, April
18, 2022, The Gin and Cornerstone will join together to hold a large charity event in September, the Parks and
Recreation department will be starting on the construction of their "Honor Wall", an update from the Business
Alliance Meeting that was held on Tuesday, April 19, 2022, the opportunity for Savannah Creative Academy,
the 380 bypass meetings that she has attended, and the PEDC's opportunity to participate in donation support for
local charities and non-profit groups.
6. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, May 18, 2022.
The next board meeting was confirmed as Wednesday, May 18, 2022.
Board President David F. Bristol recessed the regular meeting at 6:58 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.
0 Section 551.074 — To discuss and consider personnel matters and all matters incident and related thereto.
PEDC Minutes —page 2
Board President David F. Bristol called the meeting into Closed Executive Session at 6:59 P.M.
The PEDC Board met in Closed Executive Session from 6:59 P.M. to 8:11 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 8:11 P.M.
Mayor Ray Smith made a motion to approve a $100,000 incentive payment to Project Atlantic within the
boundaries of Hwy 1461, Hwy 380, Hwy 2478, and Hwy 1385 at receipt of the Certificate of Occupancy. 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 Jordan Simms,
The PEDC gbikrd meeting adjourned at 8:12 P.M.
Date