07.06.05 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
r;.
MINUTES (Unapproved)
Regular Meeting of the Economic Development Corporation
407 E. First Street, Prosper, Texas
Wednesday, July 6, 2005 - 7:00 p.m.
1. Call to Order and Roll Call:
Meeting was called to order by PEDC President Ray Smith at 7:00 p.m.
Members present were Bob Luckock, Dan Tolleson, Jim Campbell and Mike
Wadsworth (arrived after approval of minutes). Also present, Executive Director
Karen Gandy and Facilitator Judy Rucker. Visitor: Blaine Pound.
2. Approval of Minutes
Minutes were approved as submitted. Motion made by Dan Tolleson; seconded by
Jim Campbell. Motion carried 4-0.
3. Report by Board Member Bob Luckock on the possibility of adding railroad
spurs along Burlington Northern Santa Fe Rail Lines.
Mr. Luckock introduced Blaine Pound, retired employee of Burlington Northern Santa
Fe Railroad. During Mr. Pound's tenure in the railroad industry, he served in the
Real Estate and Economic Development Department where he held the position of
Director of Field Operations and National Calls. Mr. Pound discussed the possibility
of Prosper adding railroad spurs along the BNSF Rail Lines in the future. Pound
suggested ways to market Prosper by zoning for an industrial park that could be
served by rail. He felt that with appropriate design standards this type of
development could be an asset rather than a detriment to the Town.
4. Consider and Act upon FY 05-06 Budget
Karen Gandy, Executive Director of the PEDC, presented the EDC Budget that
would be effective from October 1, 2005-September 30, 2006. She noted that the
PEDC is required to present its annual budget to the Town Council for approval. The
item is tentatively scheduled for a Council Budget Workshop on July 19, 2005 with
final approval by Town Council on September 13, 2005.
Ms. Gandy presented the proposed budget giving lime item detail. The PEDC Board
approved the budget as presented with the following exceptions: 1) made
adjustments to the promotional expense line item based on statutory limitations
placed on such expenses by deleting the community video, moving Cofer contract to
Professional Services, and reducing the DBJ ad to run only four times per year rather
than six and 2) increased the salary line item so that two adjustments (approximately
3% each) could be made to the Executive Director's salary pending satisfactory
performance reviews at six and twelve months. The Board :--ilso discussed the
1.)ssibili�y of establishing a bonus structure during the budget year.
Mike Wadsworth made the motion to approve the FY 05-06 Budget, :,js amended;
Bob Luc'cock seconded. Motion carried 5-0.
5. Discussion with Board concerning Board liaisons' responsibilities of sharing
information with. their respective bodies (i.e. Town Council, School Board, and
Chamber of Commerce).
Discussion centered on the responsibility of the EDC members and staff to always
be positive when responding to citizen inquiries about pending economic
development projects, but not divulging confidential information about future projects.
Members discussed that with confidential information came responsibility and
accountability and agreed that there were times when the other entities would have
to wait on project details until negotiations could be made public.
6. Staff gave updates on the following issues and discussion followed.
a. Cofer Haag and Thrasher contract was signed and executed copy was sent to Mr.
Cofer.
b. Report was received from Town Administrator Doug Mousel concerning ongoing
construction and utility projects and annexation, zoning and development
applications.
c. Board reviewed additional budget information that would be forwarded to Council
with the EDC Budget. It included the Department Description Form that included
Department Responsibilities, Departmental Goals and Objectives, including
strategies for each Goal, Future Personnel Needs and Future Large Capital
Expenditures for the EDC Department.
d. The Board learned that the Application for Petition for the Local Option Election
for the Sale of Mixed Beverages for on —premise consumption should be ready
by the week of July 18th.
7. No Closed Session was held.
8. Board directions for future meetings
Board directed staff to change future monthly meetings to the 3rd Wednesday of each
month, beginning August 17, 2005. Notices are to be posted at the EDC office, 407
E. 1s` Street and Town Hall, 113 W. Broadway.
9. Adjourned
Bob Luckock made motion to adjourn, seconded by Mike Wadsworth. Time 8:40
p.m. Motion called 5-0.
Bob Luckock, Secretary
Date Approved
Minutes prepared by Judy Rucker, appointed secretary.