PEDC Minutes - 06.15.11Prosper MINUTES
Meeting of the Prosper Economic Development Corporation
ECONOMIC 170 N. Preston Rd., Suite 50, Prosper, Texas 75078
DEVELOPMENT Wednesday, June 15, 2011 - 6:00 p.m.
CORPORATION
Call to Order / Roll Call
Board President Mike Wadsworth called the meeting to order at 6:02 p.m., those present were Mike
Wadsworth, Ray Smith, Daniel Jones, Jim Wicker, Jordan Simms, Reno Jones and Kevin Drown. Mike Land
Interim Executive Director was present, Beth Larsen, Executive Assistant was 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
Town Council member Kenneth Dugger was present
3. Consider and act upon the minutes from the May 18, 2011 Prosper EDC board meeting
Ray Smith made the motion to approve the May 18, 2011 minutes with a 2nd from Daniel Jones, the motion
passed unanimously.
4. Consider and act upon the May 2011 financial statements for the Prosper Economic Development Corporation
Jim Wicker made the motion to approve the May 2011 financial statement with a 2nd from Daniel Jones, the
motion passed unanimously.
5. Reno Jones will give an update on the financial institutions that involve The Prosper EDC accounts
Reno Jones made the recommendation to close the PEDC bank account at Prosper Bank and transfer the
money to Independent Bank effective June 2011.
6. PEDC information update:
General discussion regarding the EDC office marketing / goals
Present "Business Retention Model' developed through IESI
Mike Land gave an update on behalf of the PEDC office including opportunity to partner with IESI and their
business retention program. He also commented on ongoing marketing timeline and the presentation of the
CoServe check received to support marketing materiels including the updated website.
Recess into closed session in compliance with Section 551.001 et. Seq, Texas Government Code, to wit:
The board recessed into closed session at 6:13 p.m. with a motion from Daniel Jones and 2nd from Jordan
Simms.
i. Section 551.087 to deliberate economic development prospects.
ii. Section 551.072 to deliberate the purchase, exchange, lease or value of real property located south of
DNT & North of Hwy 380
iii. Review the performance agreement with the Town of Prosper for construction of water and sewer
improvements
iv.Rev iew / evaluate the Interim ED Director position
8. Reconvene into regular session and take any action necessary as a result of the closed session
The board reconvened into regular session at 7:53 p.m. with a motion from Jim Wicker and 2nd from Jordan
Simms.
9. Adjourn
The board adjourned at 7:53 p.m with a motion from Daniel Jones and 2nd from Jim Wicker,
Jordan Si Secretary Date