06.08.05 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
Economic Development Corporation
Minutes (Unapproved)
Regular Meeting of Prosper Economic Development Corporation
407 E. First Street, Prosper, TX.
June 8, 2005
1. Call to Order and Roll Call:
Meeting was called to order by PEDC Board President, Ray Smith, at 7:00 p.m.
All members, Executive Director Karen Gandy and Facilitator Judy Rucker were
present. Mike Wadsworth was introduced as a new member of the Board and
stated that he would abstain from voting until sworn in by the Town Secretary.
2. Approval of Minutes:
Minutes were approved as submitted.
by Dan Tolleson. Motion carried 4-0.
Motion made by Jim Campbell seconded
3. Approval of Financial Statements:
Bob Luckock questioned two checks written to the Town of Prosper that were
posted on the Transaction Detail report. Ms. Gandy explained that they were
reimbursement of salary expense. The Financial Statement was approved as
submitted. Motion made by Jim Campbell and seconded by Bob Luckock.
Motion carried 4-0.
4. Action upon professional services agreement for legal counsel:
Motion was made by Bob Luckock and seconded by Dan Tolleson that the firm of
Nichols, Jackson, Dillard, Hager, and Smith LLP. be retained to provide legal
services for the Prosper Economic Development Corporation.
Motion carried 4-0.
5. Updates on the following issues:
a) Karen Gandy presented the aerial map that was recently developed by the
EDC staff. Discussion followed concerning the distribution and charge for the
maps. The consensus of the Board was that the maps be used as a marketing
tool and should be provided at no charge to prospects showing serious interest
in coming to Prosper.
b) Ms. Gandy shared with the Board the marketing "branding" she is developing
for the PEDC. Examples included the new logo, available property flyers and
the new webpage design. She was given the "go ahead" by the Board to
Minutes of Prosper EDC Meeting
June 8, 2005
Page Two
continue implementing the new EDC "brand."
c) The Executive Director reported that she had attended two transportation
meetings concerning Dallas North Tollway/US 380 improvements and US
380/Preston Road interchange study and needed improvements. On May 2,
NTTA engineers/representatives indicated that while the DNT has not been
designed north of US 380, the NTTA anticipates making some interchange
improvements north of US 380 with the current construction phase due
completion in Fall 2007. Diamond interchanges are proposed at US 380, First
Street, Prosper Trails and Frontier Parkway in Prosper. On May 3, TXDOT,
NTTA, Collin County and the cities of Prosper and Frisco met to discuss
additional ROW needs along the Preston Road / US 380/ Tollway corridors,
the relocation of existing utilities, impact of BNSF rail lines and desired ramp
locations. It was determined that an engineering study was needed to address
all the concerns of the individual parties and that Collin County Engineer
Ruben Delgado would take the lead in preparing the Intorlocal Agreement.
d) The Local Option Election for Sale of Alcoholic Beverages for On -Premise
Consumption was discussed. Ms. Rucker reported that Bruce Levak had
volunteered to collect the initial 15 signatures needed to request the official
petition from the Town Secretary. Bob Luckock and Jim Campbell agreed to
assist in gathering the signatures as well. To get the Local Option Election on
the ballot, there must be 300 names of qualified Prosper voters to sign the
petition.
6. Staff Updates on Construction, Annexation and Development Activities and
EDC Work Plan
Ms. Gandy discussed with the Board an update on the EDC Work Plan tasks for
FY-05-06 through June 2, 2005. She shared with them some recent businesses
that had shown an interest in Prosper.
7. Discussion of benefits of adding railroad spurs along the Burlington
Northern Santa Fe line.
Bob Luckock discussed with the Board the possibility of adding two spurs along
the BNSF line and the benefits to businesses wanting to locate near the railroad. It
was the consensus of the Board that more information was needed and Mr.
Luckock was asked to update the Board at the July meeting.
8. Recess into Closed Session (subject to Section 551.087 (Economic
Development Negotiations) — Deliberations regarding commercial or
financial information that the Economic Development Corporation has
received from business prospects that the Economic Development
Corporation seeks to have locate, stay, or expand in the Town and with
which the Economic Development Corporation is conducting economic
development negotiations.
Minutes of Prosper EDC Meeting
June S, 2005
Page Three
Motion was made by Bob Luckock and seconded by Jim Campbell to recess into
closed session at 7:45 p.m. Motion 4-0.
9. Reconvene into regular session and take any action necessary as a result of
the closed session.
Board reconvened into regular session at 8:16 p.m. No action was taken as a result
of Closed Session.
10. Discussion of topic(s) of future meeting items or discussion.
Board Member Wadsworth asked that the Board discuss the Council, Chamber
and School Board liaisons' roles and responsibilities in sharing information with
their respective Boards.
11. Adjournment.
Motion (4-0) to adjourn at 8:30 p.m.
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