10.18.06 PEDC MinutesProsper
ECONOMIC
DEVELOPMENT
CORPORATION
1. Call to Order/ Roll Call
APPROVED MINUTES
Meeting of the Economic Development Corporation
121 W. Broadway Street, Prosper, Texas
Wednesday, October 18, 2006 - 7:00 p.m.
PEDC President Ray Smith called meeting to order at 7:00 p.m. All members were present except for Director, Mike
Wadsworth. Also in attendance were PEDC Executive Director, Karen Gandy and PEDC, Assistant Andrea Berry.
2. Consider and act upon minutes of the July 25, 2006 Special Meeting with Town Council (as prepared by Town Secretary)
and August 16, 2006 Regular Meeting of the Prosper Economic Development Corporation.
Minutes were approved as submitted. Motion made by Jim Campbell; seconded by Dan Tolleson. Motion carried 4-0.
3. Consider and act upon financial statements of the Prosper Economic Development Corporation for the months ending
August 31, 2006 and September 30, 2006.
Financial statements for the month ending August 31, 2006 were approved as submitted. PEDC Executive Director, Karen Gandy
recommended to the Board, that the September 30, 2006 financial statements be tabled until November's EDC meeting, due to
the Town conducting their financial software conversion.
Motion made by Bob Luckock; seconded by Jim Campbell. Motion carried 4-0.
"Mike Wadsworth arrived at 7:15 p.m.
4. Comments from Citizens. The EDC may receive input from the public; however, a topic may not be discussed by the
EDC unless the topic is specifically listed on the meeting agenda.
There were no comments by the public at tonight's meeting.
5. Receive updates on the following items or from the following organizations, discuss and take any necessary action:
A. Current and pending construction and utility projects and annexation, zoning and development applications
No discussion occurred regarding the staff updates provided in the Board packets.
B. PEDC Projects I Activities
The Board was briefed on Ms, Gandy's recent trip to San Antonio for the International Council of Shopping Centers (ICSC)
Annual Trade Show. Ms. Gandy informed the Board of the PEDC's opportunity to advertise in this year's Collin
County Book of Businesses. Ms. Gandy recommended against advertising in the Book of Businesses to the Board, due to
its limited circulation.
No action was taken regarding the PEDC Projects and Activities.
C. Prosper Area Chamber of Commerce
Bob Luckock updated the Board on the changes that will be taking place with the Chamber over the next year. The
Chamber will be starting a new Business Retention Program, and focusing more on existing businesses within Prosper. The
Chamber will also be hosting two (2) award banquets this year, which will recognize the most outstanding citizen and
business located in Prosper. The Chamber will be changing their name, by removing "Area" out of it. The new name will be
Prosper Chamber of Commerce
No action was taken regarding any Prosper Chamber of Commerce updates.
D. Prosper I.S.D.
Dan Tolleson, discussed growth projections regarding Prosper I.S.D. For the 2006-2007 school year, PISD anticipates to
have 600-1000 new students enrolled in grades K-12. PISD will start construction on the new High School in fall of 2007,
with an anticipated opening date of fall 2009.
No action was taken regarding any Prosper I.S.D updates.
E. Prosper Town Council
Mike Wadsworth mentioned that the Town Council would have one meeting in the month of December.
No action was taken regarding any Prosper Town Council updates.
6. Discussion regarding industrial development sites.
The PEDC Board recommended working directly with the landowners, to see if they would be interested in having their property
developed into an industrial park.
Recess into Closed Session in compliance with Section 551, Texas Government Code, to wit:
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.
The Board did not recess into executive session.
8. Reconvene into regular session and take any action necessary as a result of the closed session.
9. Adjourn.
Meeting adjourned at 9:05 p.m. Motion made by Bob Luckock; seconded by Dan Tolleson. Motion carried 5-0.
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Bob Luckock, Pro per Ecanarnic D velopment Secretary Date