08.15.12 PEDC Minutes1
Prosper
MINUTES
Meeting of the Prosper Economic Development Corporation
ECONOMIC 170 N. Preston Rd., Prosper, Texas 75078
DEVELOPMENT Wednesday, August 15, 2012 - 6:00 p.m.
CORPORATION
1. Call to Order / Roll Call
Board President Jim Wicker called the meeting to order at 6:07 p.m., those present were Jim
Wicker, Mike Wadsworth, Ray Smith, Kevin Drown, and Reno Jones. Board member Daniel
Jones and Jordan Simms were absent. Interim Town Manager Lyle Dresher was present and
Beth Larsen Executive Assistant was also 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 July 18, 2012 Prosper EDC board meeting
The minutes from the July 18, 2012 board meeting were approved with a motion from Mike
Wadsworth and 2nd from Ray Smith, the motion was approved unanimously.
4. Consider and act upon the minutes from the July 31, 2012 special called Prosper EDC board meeting
The minutes from the July 31, 2012 special called meeting were approved with a motion from
Mike Wadsworth and 2"d from Ray Smith, the motion was approved unanimously.
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5. Consider and act upon the July 2012 financial statements for the Prosper Economic Development
Corporation
The motion was made to approve the July 2012 financial statement with a motion from Ray
Smith and 2"d from Reno Jones, the motion passed unanimously.
6. Presentation regarding a proposed Professional Office Building at 1000 Preston Road
Stephen Hundley and Don Lookadoo presented their concept for a Professional Office
Building at 1000 Preston Road, and answered questions from the board of directors.
7. Consider and take action to approve the Prosper Economic Development Corporation fiscal year
2012-2013 budget as presented
The board considered and review the Prosper EDC fiscal year budget as presented, the motion
was made by Reno Jones and 2"d by Kevin Drown, the motion passed unanimously.
8. PEDC information update:
Beth Larsen reviewed the upcoming local, and regional professional conferences and
submitted the PEDC board member resignation from Daniel Jones effective immediately.
The board recognized new Executive Director Robert Winningham who will start effective
Monday August 20, 2012.
9. Recess into closed session in compliance with Section 551.001 et. Seq. Texas Government Code, to
1 wit:
The board recessed into closed session at 7:00 p.m. with a motion from Mike Wadsworth and
2"d from Kevin Drown.
i. Section 551.087 To deliberate Economic Development Negotiations regarding property
located North of Highway 380, East of 1385, South of Frontier and West of Custer
10. Reconvene into regular session and take any action necessary as a result of the closed session
The board reconvened into regular session at 7:15 p.m. with a motion from Kevin Drown and
2"d from Mike Wadsworth.
11. Adjourn
The board adjourned at 7:17 p.m. with a motion from Reno Jones and 2"d from Ray Smith.
Beth Larsen — PEDC Executive Assistant Date
THREE YEAR (3) COMPARISON
ECONOMIC DEVELOPMENT CORP. - SALES TAX
PROSPER, TEXAS
d�
iF- �r FY 0310
r FY 1411
r FY 11-12
f _
$ Amount
% of Change
Month
Inc / Dec
Inc /(Dec)
Oct
$
33,632.68
$
34,244.53
$
50,494.14
$ 16,249.61
47.45%
Nov
$
29,107.51
$
21,036.53
$
41,443.55
$ 20,407.02
97.01 %
Dec
$
30,413.05
$
24,351.72
$
38,800.96
$ 14,449.24
59.34%
Jan
$
37,375.07
$
25,907.60
$
50,935.13
$ 25,027.53
96.60%
Feb
$
22,402.85
$
25,422.31
$
38,930.17
$ 13,507.86
53-13%
Mar
$
21,279.05
$
30,373.07
$
46,632.15
$ 16,259.08
53.53%
Apr
$
61,918.11
$
44,809.83
$
53,551.26
$ 8,741.43
19.51%
May
$
26,311.09
$
37,130.04
$
53,684.23
$ 16,554.19
44.58%
June
$
24,940.11
$
40,706.63
$
56,499.49
$ 15,792.86
38.80%
July
$
73,197.23
$
51,138.44
$
62,857.90
$ 11,719.46
22.92%
Aug
$
38 796.93
$
43 008.76
$
63 796.00
$ 20 787.24
48.33%
Sept $ 35,207.68 $ 44,256.65
YTD Totals $ 434,581.36 $ 422,386.11 $ 557,624.98 $ 179,495.52 111.26%
$ 376,667.00 Budgeted Sales Tax
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Memorandum
TO: PEDC Board of Directors
FROM: PEDC Staff
DATE: 9-19-12
RE: PEDC Staff & Marketing Report
NEW DEVELOPMENT
CONFIDENTIAL
Project Double J — Town Manager Lyle Dresher, consultant Trent Petty and the PEDC director have been meeting regularly
with officials from the development company on this project regarding this 124-acre project that includes office and retail
space. Chris Copple and Hulon Webb have been assisting with determining infrastructure costs and TIFF boundaries, as
well as providing history on the project. The Prosper Development Team is scheduled to meet with the development
company on Thursday, 9/20, to determine next steps. It is hopeful that terms of a deal would be presented to the PEDC
Board for their consideration at a meeting in October.
Project Sack — PEDC director has been meeting with John Harris on this project that would bring a retail user near the
corner of First Street and Preston. Harris is scheduled to present PEDC information provided by Beth Larsen to the retail
company in a meeting on Thursday, 9/20. Should this retailer express interest in opening in Prosper, the PEDC board
may take up action on this project in October or November.
Private School — A board member of Grace Christian Academy met with the PEDC director regarding their interest in
finding a new campus in Prosper. PEDC has facilitated a meeting between Grace officials and a major landowner in
Prosper to determine if a site can be developed for this private school, grades K-8.
15-Acre Data Center — PEDC staff is working with Oncor to determine if a data center can be developed within Prosper city
limits. Typically, while data centers do not create more than approximately 100 high-tech jobs, they do bring much ad
valorem value and sales tax to a community. The Cisco Systems data center in Allen, for example, is appraised at $350
million with an expected appraisal at full finish -out of $500 million. Sales taxis based on approximately $100 million in
gross sales on new computer and computer -related equipment every three (3) years.
Blue Star — The PEDC director met with Joe Hickman of Blue Star to go over various issues on their commercially zoned
properties. It is hopeful that PEDC staff will bring a proposal to the PEDC board for consideration within the next 3-6
months.
PARTNERSHIPS
Prosper Independent School District (PISD) — Beth has scheduled a meeting in early October between Robert and Drew
Watkins to discuss various education and business related issues.
Prosper Chamber of Commerce — Robert met and introduced himself to the Prosper Chamber of Commerce board of directors
at their monthly meeting. In October, Robert and Chris Copple will co -present a PowerPoint presentation at a Chamber
breakfast_
Planning Dept. / Engineering Dept. — The PEDC director has scheduled a meeting with Chris Copple, Director of Planning,
and Hulon Webb, Director of Engineering, to go over development issues in Prosper. This meeting will be held on a monthly
basis and serve as the foundation for a strong partnership for communication and development.
, Prosper Library — The Library board has asked Robert to make a presentation in October on how `smart' development is
] pursued and won.
PEDC Staff Report — Page 2
September 19, 2012
Prosper Developers Council — The PEDC director joined the Planning Director in meeting with this residential development
group. Among topics was a video to promote Prosper. This may be included in the PEDC marketing plan in October.
MARKETING / PUBLIC RELATIONS
Aerial Map —Beth has begun the process of developing a new aerial map for the PEDC. It is expected that new maps will be
printed by the end of this year.
Print and Web Media — PEDC staff is ferreting out which, if any, publications are worth marketing in for FY 2012-13_
Marketing Plan — PEDC staff is conducting a meeting to discuss and create a marketing plan for the PEDC for FY 2012-13.
This plan will be shared with the Board at its October meeting.
RETAIL
ICSC ReCon Show — The PEDC will participate in this event aimed at attracting retailers. Any PEDC members wishing to join
Beth and Robert at this event are encouraged to contact Beth by October 10`h.
ADMINISTRATIVE
Shirts — PEDC shirt orders are being taken. Please let Beth know your size ASAP.
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