09.19.12 PEDC Minutes1
Prosper
ECONOMIC
DEVELOPMENT
CORPORATION
Call to Order and Announce a Quorum is Present
MINUTES
Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd., Prosper, Texas 75078
Wednesday, September 19, 2012 - 6:00 p.m.
Board President Jim Wicker called the meeting to order at 6:02 p.m. Those present were Jim Wicker,
Kevin Drown, Ray Smith, Jordan Simms, and Mike Wadsworth. Board member Reno Jones was absent.
Robert Winningham, PEDC Executive Director, and Beth Larsen PEDC Executive Assistant were
present.
1. Comments from Citizens (The EDC may receive input from the public, however, the topic may not be
discussed by the EDC if the topic is specifically listed on the meeting agenda)
2. Recognition of Outgoing Board Members
Board President Jim Wicker presented Mike Wadsworth and Daniel Jones plaques of appreciation
on behalf of the PEDC Board of Directors for their dedicated service.
3. Approval of Minutes from the August 15, 2012 Regular Meeting
Ray Smith made the motion to approve the minutes from the August 15, 2012 Board meeting,
seconded by Board Member Kevin Drown. The motion passed unanimously.
4. Approval of PEDC Financial Reports
Jordan Simms made the motion to approve the PEDC financial reports as presented, seconded by
Board Member Mike Wadsworth, the motion passed unanimously.
5. Discussion of Tax Abatement Guidelines
Board members reviewed the Tax Abatement Guidelines included in the board packet and will
provide feedback to the Executive Director Robert Winningham on revisions to be made.
6. Executive Director's Report; Administrative and Marketing Activities of the PEDC and Upcoming Events
Robert Winningham reported on upcoming networking opportunities for the PEDC, and Executive
Assistant Beth Larsen gave a report on marketing activity.
7. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.087;
Deliberation of Economic Development Negotiations: To Deliberate Commercial and Financial
Information and Economic Incentives for the following
Jim Wicker called the PEDC Board into Closed session at 6:47 p.m.with a motion from Ray Smith
and seconded by Mike Wadsworth.
■ Consider Incentives for Project Double J
Reconvene into Open Session
The PEDC Board reconvened into regular session at 6:56 p.m. with a motion from Mike Wadsworth
and seconded by Jordan Simms.
8. Actions Resulting from Executive Session
There was no action resulting from the Executive Session.
9. Determine Next Meeting Date
The PEDC Board chose to move the November meeting date to the second Wednesday, 11/14, to
avoid conflicting with the Thanksgiving Holiday.
10. Adjourn
The PEDC Board meeting was adjourned at 7:06p.m with a motion from Ray Smith and seconded
by Kevin Drown.
Jordan Simms — Secretary
Date