PEDC Minutes - 03.24.10Prosper
ECONOMIC
DEVELOPMENT
CORPORATION
MINUTES
Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd, Suite 50, Prosper, Texas 75078
Wednesday, March 24, 2010 - 6:00 p.m.
Call to Order / Roll Call
EDC Board President Mike Wadsworth called the meeting to order at 6:02 p.m., board members present were
Mike Wadsworth, Ray Smith, Daniel Jones, Jordan Simms, and Reno Jones. EDC Executive Director Dan
Tolleson and Executive Assistant Beth Larsen were also present. Board members Bob Luckock and Jim
Wicker were absent.
2. Comments from citizens, the EDC may receive input from the public; however the topic may not be discussed by the
EDC unless the topic is specifically listed on the meeting agenda
No comments were made by citizens.
3. Consider and act upon the minutes from the February 17, 2010 and February 24, 2010 Prosper EDC board meeting
Minutes for the February 17 and February 24 meeting were approved with a motion from Ray Smith and 2nd
from Reno Jones, the motion passed unanimously.
4. Consider and act upon the February 2010 financial statements for the Prosper Economic Development Corporation
The February 2010 financials were approved with a motion from Ray Smith and 2nd from Jordan Simms, the
motion passed unanimously.
5. Review and possible act on the Town of Prosper investment policy as adopted by Prosper Town Council
EDC board reviewed the investment policy and approved with a motion by Mike Wadsworth and 2nd from
Daniel Jones. The motion passed unanimously.
6. Review and possibly act on the Prosper Economic Development Corporation's audit report, dated September 2009
EDC board reviewed the audit report from September 2009 and approved with a motion from Daniel Jones
and 2nd from Ray Smith, the motion passed unanimously.
7. PEDC information update:
A. Conferences and workshops that EDC staff / EDC board attend
Staff reviewed the trainings/ conferences that had been attended and future scheduled meetings
B. Discussion of 2-24-10 joint Town Council and EDC board meeting
EDC board discussed the joint meeting held in February and makes the recommendation to meet
in July 2010
C. Discussion regarding newly created McKinney Alliance
EDC board member Daniel Jones gave an overview of the McKinney Alliance Committee
D. Staff update on aerial map
Staff and board reviewed the proposed aerial map and suggesting minor changes
E. Review Brown construction project
F. Discuss Car Care project including council update
EDC staff and board discussed recent Prosper Town Council decision to approve Car Care project
G. PEDC Executive Director review process
EDC board discussed upcoming review process for Executive Director Dan Tolleson
8. Recess into closed session in compliance with Section 551.087 et. Seq. Texas Government Code, of the Open
Meetings Act to discuss and deliberate economic development prospects
EDC board member Ray Smith made a motion to move into closed session with a 2nd from Daniel Jones
9. Reconvene into regular session and take any action necessary as a result of the closed session
EDC board member Ray Smith made a motion to reconvene into regular session at 7:58 p.m. with a 2nd from
board member Jordan Simms
10. Adjourn.
The EDC board meeting was adjourned at 7:58 p.m. with a motion from Ray Smith and a 2nd from Jordan
Simms
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