PEDC Minutes - 05.18.11Prosper
ECONOMIC
DEVELOPMENT
CORPORATION
Call to Order / Roll Call
Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd., Suite 50, Prosper, Texas 75078
Wednesday, May 18, 2011 - 6:00 p.m.
Mike Wadsworth called the meeting to order at 6:03 p.m. Mike Wadsworth, Daniel Jones, Jim Wicker, Jordan
Simms, Reno Jones, and Ray Smith were present. PEDC board member Kevin Drown was absent.
Mike Land, Interim Executive Director and Beth Larsen Executive Assistant 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. Recess into closed session in compliance with Section 551.001 et. Seq. Texas Government Code, to wit:
i. Section 551.087 hear presentation on commercial project located east of Preston Rd., West of Custer
Rd., South of First Street & North of Hwy 380
Mike Wadsworth called PEDC board into Executive Session with a motion at 6:03 p.m. and 2°d from
Daniel Jones.
4. Reconvene into regular session and take any action necessary as a result of the closed session
The PEDC board reconvened into regular session at 7:00 with a motion from Ray Smith and 2nd from
Jim Wicker.
5. Consider and act upon the minutes from the April 13, 2011 Prosper EDC board meeting
The April 13, 2011 minutes were approved with a motion from Jim Wicker and 2nd from Daniel Jones, the
motion was approved unanimously.
6. Consider and act upon the April 2011 financial statements for the Prosper Economic Development Corporation
The April financial statements were approved with a motion from Daniel Jones and 2nd from Jordan Simms,
the motion was approved unanimously.
Review and take any necessary action on Prosper quarterly investment policy ending March 31, 2011
The Prosper quarterly investment policy ending March 31, 2011 was reviewed and approved with a motion
from Reno Jones and 2nd from Jim Wicker, the motion was approved unanimously.
8. Review and take action on the resolution amending authorized representatives to represent the Prosper Economic
Development Corporation in making decision for TEXPool accounts.
The PEDC board reviewed and approved the resolution as stated amending the authorized representatives to
represent the Prosper Economic Development Corporation in making decisions for the TEXPool accounts.
9. Discuss Prosper Capital Improvements advisory committee updates
Prosper Capital Improvements committee member Jordan Simms gave an update of the first meeting and
stated that the advisory committee would meet again in August 2011.
10. PEDC information update:
Review and discuss business options with The Buxton Company
General Discussion was held regarding the Buxton Company and the decision was made not to hire
the company for general data until further notice.
General discussion regarding the EDC office marketing / goals
Mike Land and Beth Larsen discussed the marketing timeline and the status of events scheduled and
other targeted event deadlines.
11. Recess into closed session in compliance with Section 551.001 et. Seq. Texas Government Code, to wit:
Mike Wadsworth called the PEDC board meeting into Executive Session at 7:33 p.m. with a motion from Jim
Wicker and 2°d from Daniel Jones.
i. Section 551.087 to deliberate economic development prospects.
ii. Section 551.087 hear presentation on commercial project located east of Preston Rd., West of Custer
Rd., South of First Street & North of Hwy 380
iii. Section 551.072 to deliberate the purchase, exchange, lease or value of real property located south of
DNT & North of Hwy 380
iv. Review the performance agreement with the Town of Prosper for construction of water and sewer
improvements
v. Review / evaluate the Interim ED Director position
12. Reconvene into regular session and take any action necessary as a result of the closed session
The PEDC board reconvened at 8:28 p.m. with a motion from Jim Wicker and 2^d from Jordan Simms
13. Adjourn
The PEDC board meeting was adjourned at 8:28 p.m. with a motion from Ray Smith and 2nd from Reno Jones.
Jordan Simms — Secretary Date