PEDC Minutes - 08.16.11Prosper
MINUTES
Meeting of the Prosper Economic Development Corporation
ECONOMIC 170 N. Preston Rd., Suite 50, Prosper, Texas 75078
DEVELOPMENT Tuesday, August 16, 2011 - 6:00 p.m.
CORPORATION
1. Call to Order / Roll Call
Board President Mike Wadsworth called the meeting to order at 6:04 p.m., Mike Wadsworth, Ray Smith, Jim
Wicker, Jordan Simms, Reno Jones, Kevin Drown were present. Board member Daniel Jones was absent.
Interim ED Mike Land and Executive Assistant Beth Larsen were present.
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
3. Consider and act upon the minutes from the June 15, 2011 Prosper EDC board meeting
The board reviewed the minutes and approved with a motion from Ray Smith and 2°d from Jim Wicker, the
motion passed unanimously.
4. Consider and act upon the June 2011 financial statements for the Prosper Economic Development Corporation
The board reviewed the June 2011 financials and approved with a motion from Jim Wicker and 2nd from
Jordan Simms, the motion passed unanimously.
5. Consider and act upon the July 2011 financial statements for the Prosper Economic Development Corporation
The board reviewed the July 2011 financials and approved with a motion from Jim Wicker and 2^d from Jordan
Simms, the motion passed unanimously.
6. Consider and take action to approve the 2011-2012 Prosper EDC proposed budget
The board reviewed the budget and requested additional information; the budget will be reviewed and
approved at the September 2011 EDC board meeting.
7. Review and take any necessary action on the Investment Portfolio Summary for the quarter ended June 30, 2011.
The board reviewed the Investment Portfolio Summary and accepted as presented.
8. PEDC information update:
General discussion regarding the EDC office marketing / goals
Prosper EDC and Prosper chamber joint participation events
Mike Land and Beth Larsen gave updates regarding ongoing marketing efforts and discussed attending
annual professional organization meetings. The new business retention program was discussed with impute
from Kevin Drown and the new partnership with the Prosper Chamber and the IESI business retention model.
9. Consider and act upon the Town of Prosper and PEDC Agreement for Economic Development's
Contribution to costs.
The EDC board reviewed and voted to approve the PEDC agreement and resolution between the Town and
The EDC's contribution to cost with a motion from Jim Wicker and 2nd from Reno Jones, the board approved
the motion unanimously.
10. Recess into closed session in compliance with Section 551.001 et. Seq. Texas Government Code, to wit:
The board recessed into closed session at 6:25 with a motion from Ray Smith and 2^d from Jim Wicker
i. Section 551.087 to deliberate economic development prospects.
ii. Review / evaluate the Interim ED Director position
11. Reconvene into regular session and take any action necessary as a result of the closed session
The board reconvened at 8:20 p.m. with a motion from Jim Wicker and 2nd from Reno Jones.
12. Adjourn
The board adjourned at 8:20 p.m. with a motion from Jim Wicker and 2^d from Reno Jones.
Jordan Simms — Secretary Date