02.15.06 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
MINUTES
Regular Meeting of the Economic
Development Corporation
121 W. Broadway Street, Prosper, Texas
Wednesday, February 15, 2006 - 7:00 p.m.
1. Call to Order/Roll Call.
Meeting was called to order by PEDC President Ray Smith at 7:00 p.m. All members were present,
except Bob Luckock. Also in attendance was PEDC Executive Director Karen Gandy.
2. Approval of Minutes.
Minutes were approved as submitted. Motion made by Ray Smith; seconded by Mike Wadsworth.
Motion carried 4-0.
3. Approval of Financial Statements.
Financial statements for the month ending December 31, 2005 were approved as submitted. Motion
was made by Dan Tolleson; seconded by Mike Wadsworth. Motion carried 4-0.
4. Comments from Citizens.
No citizens were present.
5. Consider and act on Resolution 06-02-15 adot)ting an Investment Policy.
The Board postponed discussion of this item until the next scheduled meeting.
6. Staff _Updates.
A. Current and pending construction and utility projects. No discussion occurred regarding the
staff updates provided in the Board packets.
B. PEDC Activity Reports. Ms. Gandy updated the Board on the progress of the PEDC website.
Ms. Gandy and PEDC Assistant are compiling all of the information and anticipate that the
website will be up and running by April 2006.
7. Discuss Downtown Improvement Options.
Mike Wadsworth motioned to create an exploratory committee to further research the possibilities of
creating a Revitalization Program for Downtown. Jim Campbell seconded the motion. Motion carried
4-0.
7. Recessed into Closed Session.
The Board recessed into closed session at 8:50 p.m.
In compliance with Section 551, Texas Government Code, to wit: To discuss information that the
EDC has received from business projects that the EDC seeks to locate, stay or expand in the Town and
with which the EDC is conducting economic development negotiations.
8. Board reconvened into regular session.
The Board reconvened into regular session at 9:20 p.m. No action taken as a result of closed session.
9. Direction to staff to schedule topics „f,'or discussion at a future meeting.
No new topics for future discussions were given to staff.
10. Adiourned.
The Board adjourned at 9:24 p.m.
Bo Luckoc cretary
Date:
Minutes for Prosper EDC Meeting — February 15, 2005 Page I