07.07.04 PEDC MinutesTown of Prosper
Economic Development Corporation
Minutes
Regular Meeting of Prosper Economic Development Corporation
Wednesday July 7, 2004, 7:00 p.m.
113 W. Broadway Street
City Hall Annex
1. Call to Order
Meeting was called to order at 7:05 by PEDC Executive Director, Doug
Mousel.
Members present: Ray Smith, Lisa Dritschler, Bob Luckock, and Jim
Campbell.
Member not present: Dan Tolleson. (Member Dan Tolleson arrived at
8:05 p.m.)
Staff present included: EDC Executive Director, Doug Mousel and EDC
Facilitator, Judy Rucker.
2. Election of Officers of the Prosper Economic Development
Corporation.
The by-laws of the Prosper Economic Development Corporation require
the Board to appoint a president, vice president, secretary and treasurer.
In addition, the Board may appoint an assistant secretary.
The following were elected to office:
President - Ray Smith, nominated by Jim Campbell, seconded by Lisa
Dritschler, Motion carried 3-0.
Vice President - Lisa Dritschler, nominated by Jim Campbell, seconded
by Bob Luckock. Motion carried 3-0.
Secrets - Bob Luckock nominated by Lisa Dritschler, seconded by Jim
Campbell. Motion carried, 3-0.
Treasurer - Jim Campbell, nominated by Bob Luckock, seconded by Lisa.,
Dritschler. Motion carried 3-0.
All terms shall be one year terms and an officer shall have the right to be`
reelected. New signature cards for the PEDC Operation Account at
Prosper State Bank were discussed. It was decided that checks should
be signed by the Executive Director of the PEDC and the President of the
EDC. The Board appointed Judy Rucker as assistant secretary.
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3. Approval of Minutes from June 2, 2004 EDC Meeting.
Motion was made by Jim Campbell to accept June 2, 2004 Minutes as
written, Bob Luckock seconded the motion. After discussion and
explanation of item 6 of minutes, "Proposed purchase of signs promoting
the Town of Prosper", the motion carried 4-0.
4. Review of current and pending construction projects and annexation,
zoning, and development applications.
PEDC Executive Director, Doug Mousel, reviewed the Board on pending
development projects for the Town. Staff responded to questions from
the new Board. Ideas and information were exchanged for future
reference for the group. No action by PEDC was necessary.
5. Proposed Budget for 2004-2005 fiscal year for the EDC.
Staff presented -the proposed EDC budget for 2004-2005 fiscal year with
the Board. After reviewing, the Board made several modifications to -the
proposed 2004-2005 budget. Doug Mousel was instructed to make the
changes and bring the recommended budget to the Town Council on
August 2, 2004.
5. Review of TIRZ, CMUD, PID and other Economic Development Tools.
Doug reviewed and discussed the use of economic development tools
such as tax increment reinvestment zones, public improvement districts
and commercial municipal utility districts and how they would relate with
key property owners at the intersection of US 380 and SH 289. Staff has
continued dis6ussions with these property owners regarding the
development of their property and the application of these tools. It is
anticipated that a meeting will be scheduled with the Town Council and
PEDC in the near future to more specifically discuss the application of
specific economic development mechanisms and an outline of potential
agreement between the property owners and the Town regarding the
development of the subject property. No action by the PEDC was
necessary.
6. Direction to staff regarding current and future economic
development activities.
Board directed staff to add an Executive Session to each meeting agenda.
7. Board adjourned into Executive Session. 8:00 p.m.
Jim Campbell made motion to adjourn into Executive Session, Lisa
seconded, motion carried 5-0.
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8. Board reconvened at 8:50.
9. Adjourned at 9:00 p.m.
Approved: lD
Bob
k, Secretary - Prosper Economic Development Corporation
- -4-o4
Date
Attest:
CCU'
iudy Brucker, Assistant Secretary
Date
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Town of Prosper
Economic Development Corporation
Minutes
Regular Meeting of Prosper Economic Development Corporation
Wednesday, August 4, 2004.7:00 p.m.
109 So. Main Street
Prosper Police Station
1. Call to Order
Meeting was called to order at 7:00 p.m. by Ray Smith, President of PEDC
Board.
Members present: Ray Smith, Bob Luckock, Dan Tolleson and Jim Campbell
(7:05).
Member not present: Lisa Dritschler.
Staff present included: EDC Executive Director, Doug Mousel and EDC
Facilitator and appointed assistant secretary, Judy Rucker.
2. Approval of Minutes from July 7, 2004 EDC Meeting
Motion was made by Dan Tolleson to accept July 7, 2004 Minutes as written,
Bob Luckock seconded the motion. There was no discussion. The motion
carried 3-0.
3. Discussion of financial statements of the PEDC.
Staff presented Balance Sheet and Reconciled Statement for financial
information concerning the Operating Budget and Tex Pool savings.
Discussion followed. It was suggested that the PEDC and Town of Prosper use
the same reporting system.
4. Review of current and pending construction projects and annexation,
Zoning and development applications.
Doug Mousel shared with group all the current and pending construction projects
and annexation, zoning and development applications. Informational questions
were asked about certain properties. Discussion followed.
Doug reminded the Board that each month the list of new applications is posted
on the Town's website at www.prospertx.or_glpinr/pinr.htm The list is updated on a
regular basis. The Town also includes a construction update in its quarterly
newsletter.
No Action by the EDC is allowed.
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