02.02.05 PEDC MinutesMinutes
Regular Meeting of Prosper Economic Development Corporation
407 E. First Street, Prosper, TX
Wednesday, February 2, 2005 at 7:00 p.m.
1. Call to Order:
Meeting was called to order by PEDC Board President, Ray Smith, at 7:00 p.m.
Members present were Lisa Dritschler and Dan Tolleson. Also in attendance were Doug
Mousel, Ex. Director of the PEDC and Judy Rucker, facilitator of the PEDC.
Member Bob Luckock arrived at 7:05 p.m. and member Jim Campbell arrived at 7:10.
2. Approval of Minutes:
Minutes of the January 5 meeting were reviewed and corrections made in spelling of names,
Dritschler, Luckock, and Tolleson. Motion to accept minutes after correction was made by
Dan Tolleson and seconded by Lisa Dritschler. Motion carried 3-0.
3. Consider and act upon financial statement of PEDC.
There was a question regarding the subtraction of $6.46 from the Current Assets report by
First State Bank of Celina. Dan Tolleson made motion and Lisa Dritschler seconded, to
approve the financial report subject to correction. Motion carried 3-0.
4. Board Recessed into Closed Session in compliance with 551.001 et.
Seq. Texas Government Code to wit:
a) Section 551.074 (Personnel Matters) —Deliberation regarding the employment of an
individual to serve as the Executive Director of the Prosper Economic Development
Corporation.
b) Section 551.087 (Economic Development Negotiations) -Deliberation regarding
commercial or financial information that the Economic Development Corporation
has received from business prospects that the Economic Development Corporation
seeks to locate, stay, or expand in the Town and with which the Economic
Development Corporation is conducting economic development negotiations.
Dan Tolleson made the motion to recess into closed session and Lisa Dritschler seconded.
Motion carried 4-0. Time: 7:07 p.m.
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5. Reconvened into regular session.
Jim Campbell made the motion to reconvene into regular session. Dan Tolleson, seconded.
Motion carried 5-0. Time: 8:30 p.m. No action was taken from Closed Session.
6. Current and pending construction and utility projects and annexation, zoning and
Development applications. Discussion item only.
Doug Mousel, Ex. Director of PEDC gave a January 5, 2005 update listings of Applications
for Development and Zoning, Construction updates were given for private non-residential,
private residential, street and utility projects. A current list of these can be found on the
Prosper website: www. rostertx. rov.
Doug reported that work had begun on securing right away and 60 ft. easements on CRs 78,
79, and 80.
Discussion ensued in regards for installation of a traffic light at S.H. 289 (Preston Rd.) and
First Street. Doug reported that TX Dot will be doing a traffic count in the near future for
that location.
No action allowed.
7. Proposal by Buxton to provide demographic and site selection information to the PEDC
The Ex. Director of the PEDC recommended that the Prosper EDC discuss the services and
proposals submitted by Buxton Marketing Research Company. Buxton is a company that
specializes in customer analysis and site selections for major retailers and restaurants, cities
and economic development groups.
Buxton's proposal is to provide a report that assesses the potential for the Town to recruit
and expand its retail sector and provide marketing packages for three specific retail targets
selected by the Town.
Discussion centered around three target areas to be assessed. The potential locations would
include:
• Custer Road/ 380
+ Preston Road equidistant between East First Street and US 80
• Us 380 equidistant between F.M. 423 and F.M. 1385
Doug and PEDC Board President Ray Smith were directed to approach owners of the
properties in these areas to appraise their willingness to completely fund or partially fund
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the program.
8. Appointment of a Finance Committee
Bylaws of Prosper Economic Development Corporation, 10/29/96,.Article II —Board of
Directors, Section 7; Committees of the Board, pg. 3. states;" There shall be a standing
committee of the Board designated as the Finance Committee..... "
Doug recommended that the PEDC Board vote to appoint two Directors from the Board,
the EX. Director of the PEDC, and the Town's Business Manager to the PEDC Finance
Committee.
Lisa Dritschler made motion to accept this recommendation, Bob Luckock, seconded,
Motion carried 5-0.
Discussion followed, a motion was made by Jim Campbell and seconded by Bob
Luckock, that the PEDC nominees be the PEDC's Board President and PEDC's
Treasurer. Motion carried 5-0.
9. Discussion and direction for the Finance Committee
The committee was directed to prepare recommendations to the PEDC regarding the
financial operations of the Corporation, including, but not limited to creation of an
investment policy and entering into a contract for depository services.
Bob Luckock made motion and Dan Tolleson seconded that this recommendation be
prepared and presented to the Town Council Motion carried 5-0.
10. Discussion of creation and distribution of an aerial marketing map and other
marketing efforts of the PEDC.
Ex. Director and staff have been working with Landiscor Aerial Information
to produce an aerial crop of the area from. Eldorado Pkwy —Carter Ranch, (CR 83)
(south to north) and east to west, Custer Rd. to F.M. 1385. Staff was instructed to
work with Landiscor to produce a large 24"x 36" aerial on heavy glossy paper and
to be overlaid with graphics depicting existing and future major thoroughfares for
Prosper. Staff was directed to collect estimates of the cost for the project.
Other means of advertising and marketing were also discussed e.g. Dallas Morning
News, Channel 5 other publications.
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11. Direction to Staff for schedule future topics for discussion at a future
meeting.
No future topics recommended. Staff is to finish tasks recommended at this meeting
and report back to PEDC at March meeting.
12. Adjournment:
Motion was made to adjourn the meeting and Dan Tolleson seconded. Motion
carried 5-0. Time: 9:40 p.m.
Approved: C) a, IV h_)
Bob Luckock, Secretary, Prosper Economic Development Corporation
Date:
Minutes prepared by Judy Rucker, appointed Secretary.
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