12.06.06 PEDC Minutes1
Prosper
ECONOMIC
DEVELOPMENT
CORPORATION
1. Call to Order 1 Roll Call
APPROVED MINUTES
Meeting of the Prosper Economic Development Corporation
121 W. Broadway Street, Prosper, Texas
Wednesday, December 6, 2006 at 6:00 pm.
PEDC President Ray Smith called meeting to order at 6:03 p.m. All members were present.
2. Discuss staff computer and technology -related issues and possibly consider engaging a computer services company to
ldentify and correct problems.
Motion made by Mike Wadsworth, seconded by Bob Luckock to table the item. Motion approved 5-0
3. Recess into Closed Session
4. Reconvene into regular session and take any action necessary as a result of Closed Session.
Action taken, as a result of Closed Session
Mike Wadsworth motioned: Ask Karen Gandy to resign as Director of Prosper EDC effective 12/7/06. The EDC Board authorized
Ray Smith, EDC President and Richard Abernathy, EDC Attorney to negotiate a settlement between both parties. Such agreement
shall include lump sum settlement upon execution of settlement document not to exceed 3 months salary. If Karen Gandy chooses
not to resign then Ray Smith, EDC President has authorization to terminate her employment immediately.
Bob Luckock seconded. Motion approved 5-0
5. Adjourn
Meeting adjourned at 6:55 p.m. Motion made by Ray Smith; seconded by Dan Tolleson. Motion carried 3-0.
Bob Lckock, Prosper conomic Development Secretary
Date
Minutes for Prosper EDC Meeting — November 29, 2006 Page 1