11.14.2012 PEDC MinutesMINUTES
rosper Meeting of the Prosper Economic Development Corporation
170 N. Preston Rd., Prosper, Texas 75078
ECONOMIC Wednesday, November 14, 2012 - 6:00 p.m.
DEVELOPMENT
CORPORATION
Call to Order and Announce a Quorum is Present r d-ew
Board President Jim Wicker called the meeting to order at 6:08 p.m. im Wicker,
Reno Jones, Ray Smith, Kevin Drown, and Gary Jackson. PEDC bo, n Simms, and
David Bristol. PEDC Executive Director Robert Winningham and E Yvere present.
1. Comments from Citizens (The EDC may receive input from ci t listed on the
meeting agenda)
There were no comments from citizens.
2. Approval of Minutes from the Regular Meeting on October 17, 2012
The October 17, 2012 minutes were approved with a motion from Ray Smith and seconded by Kevin Drown. The
motion passed unanimously.
3. Approval of PEDC Financial Reports
The October financial reports were discussed and Reno Jones made the motion to approve with a second by Gary
Jackson. The motion passed unanimously.
4. Discuss and Possibly Take Action on a Fund Balance Policy for the PEDC
The board reviewed and discussed the Fund Balance Policy for the PEDC, they made recommendations and ask that
it bring back to the board at the December 19, 2012 meeting.
5. Executive Director's Report; Administrative and Marketing Activities of the PEDC and Upcoming Events
PEDC Executive Director Robert Winningham answered any board questions as they related to the report. PEDC Executive
Assistant Beth Larsen gave a brief overview of the upcoming events for the PEDC.
6. 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:
Board President Jim Wicker called the meeting into executive Session at 6:54 p.m., with a motion from Kevin
Drown and seconded by Gary Jackson. The motion passed unanimously.
■ Project within U.S. Hwy 380, FM 1385, Frontier Pkwy and Custer Road
Reconvene into Open Session
The board reconvened into open session at 7:44 p.m., with a motion from Ray Smith and seconded by Reno Jones.
The motion passed unanimously.
7. Consider and Take Action on Project within U.S. Hwy 380, FM 1385, Frontier Pkwy and Custer Road
No action was taken on this item
8. Discussion of Future Land Use Plan with Chris Copple, Town of Prosper Director of Planning
Town of Prosper Director of Planning Chris Copple presented the Future Land Use Plan to the PEDC board and
answered quested presented by the board.
9. Convene into Closed Executive Session in Compliance with Section 551.001 et. Seq. Texas Government Code,
as Authorized by the Texas Open Meetings Act to Deliberate the following
Board President Jim Wicker called the meeting into executive session at 8:00 p.m. , with a motion from Gary
Jackson and seconded by Kevin Drown. The motion passed unanously.
i. Section 551.074. To deliberate the appointment, employment and/or duties of the Economic
Development Corporation Executive Director.
10. Reconvene into Regular Session and Take Any Action Necessary as a Result of the Executive Session
The board reconvened into regular session at 9:15 p.m., with a motion from Reno Jones and seconded by Ray Smith.
11. Adjourn
The PEDC Board meeting adjourned at 9:16 p.m. with a motion from Kevin Drown and seconded by Reno Jones.
Kevin Drown - PEDC Acting Secretary
Date
M
Prosper -
ECONOMIC
DEVELOPMENT
CORPORATION
END -OF -MONTH CASH OVERVIEW
November, 2012
CASH OVERVIEW
Index. Sk
TexPool
Totals
TexSTAR
Beginning Balance
$ 2,316,638.80
$ 2,314,125.11
$1,324.26
1,189.43
Deposits
Interest
$ 71,515.61
$ -
$ -
$ -
$
$ 71,515.61
Withdrawals
$ 8,601.95
$ -
$ -
$ 8,601.95
$ 2,379,552.46
Ending Balance
$ 2,377,038.77 $ 1,324.26
$ 1,189.43
0
0
o
0
0
0
0
0
0
0
0
0
0
0
0
0
0 l
txc
Ln
O
O
ri
Ln
O
O
O
ri
ri
O
N
a)
r-I
Ln
N
I�
O
1,
w C
M
O
O
O
N
m
0
0
0
LD
O
O
lD
L q
Mr
-I
NB
O
O
.
co
O
O
O
Ln
000
n
0
I
0c0
0000
O
0000
00
n�
-1
0
O
a)
CO E
m
'-1
ri
000
0
00000000000001
cu
Q1
In
m
O
M
cu v
Ln
CD
O
LT
0)
O
00
r-I
01
Ln
00
M
CD
v
r�
ri
o
Ol
t
LD
o
0
0
m
m
0
m
y
LD
00
1-
Ln
o
m
_0 u
m
-1
O
00
"O
-1
O
o
O
m
O
o
LV
N-It
LD
ct
O
O
w
Q)
N
r-I
N
3
-1
ri
r-I
-1
-1
N
Ln
co
ri
m =
o u
m
I.R w
W
I,
Cn
m
O
O
O
m
n
O
N
n
-1
O
-1
m
0
0
u
00
N
r-1
bi
m
0
00
M
LO
O�t
1-
M
H
N
O
O
O
C C_ },
M
,C +-�
O
O
66
00
O
O�
N
Ln
O
N
r-I
O
O
Q�1
cn
Q1 C
N
It
00
-*
n
LO
f,
M
Ln
�
LO
O
(O 'D
00
N
Ln
'� -C
Ln
Cf
ri
Ln
O
N
m
H
LO
m
N
n
N
l�0
N
u Q1 Lb
N
r^-I
Ct
u QJ m
ci
m
�-
m
�
ri
I
CF
M
f,
H
O
O
O
r-I
M
O
00
M
Ol
O
Ol
1,
O
O
H
f,
00
LO
O
O
O
LD
m
O
Ln
N
1.0
M
n
M
O
O
N
Ln
I-�
Q1
(n
O
O
O
r4
0)
O
Ln
f�
1�
a0
O
O
N
lO
a-+
co
Ln
LD
n
M
N
M
�
Ln
O
C 7I
00
N
C
C
Ln
ri
N
Ln
00
Ol
N
`1 u
00
fV
r-I
u
O1
r-I
ri
Q
'..'
Q
`" I
rmi
u
u
co
a-i
O
r-I
m
N
O
O
O
00
LD
O
N
N
1.0
0
0
0
0
0
3
LDo
rn000ml,or,00aooLToo
C
10
-1
*'
Q
m000LO0r,
-I
cn
O
� <1
v
LLmN
mO
L
Ln
m
I"
H
U0u
ALn
O
•V
L
O
O
O
O
0
0
0
0
0
0
0
0
0
0
0
0
00
0
(1)
u
O
O
O
co
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O I
CL
�.+
m
Q) v
00
r^
Q)
}
O
O
O
o
0
o
o
CI
O
o
Ln
0
0
0
0
+-+
ri
O
Ln
�
Ln
O
O
LO
O
O
LO
O
p
d
U-
LO
O
LO
r-1
lD
�
Ln
LO
m
'I
r�
O
LO
m
V'
"C
D
0
00
l0
b
14
00
r1
N0.
4-
rL
nQC
O
p
N
u
uU
C
_
O
O
N
O
E0
0Q,
fu
0
In
p
u
u
O
O
co
u
+
o_
c
p
Cu
W
_
L
Y>
C
~
Ln
t
E
•-E
w
X.
ai
C
0
'w
L
ra
Q)
0
Lu
E
cu
3
N
Q
M
W
Q1
T
I?
Q�
C
�a
C
.\
J
J
QJ
C
L>
Ql
3
C
''
V1
l0
N
co
vi
lU
CCLJ
>
Q)
O
O
C
3
u
W
:3i
�
N
~
C.
C.
\
E
W
X
m
-
Ql
W
>
QJ
cz
vi
of
i
to
to
Ln
Q1
a
X
C
C
3
>`
w
Q1
-
!�
F-
N
`
�
Q1
Ql
Ql
Ql
m
u
uj
_
f6
C
�
11
-
Lu
F-
C
In
N
QJ
lL
L
1
i
co
f0
fC
L_
LO
L6
'V
Q
f-
f0
�-'
C
-
J
Op
.
C
Ln
O
F-
Ln
Ln
Ln
Ln
Ln
L
N
S
J
J
F-
..OJ
Q
Z
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
++
O
O
O
�
0
0
0
0
0
0
O
O
O
O
O
O
O
O
O
C
Ln
Ln
Ln
C
30
Q
Ln
Ln
Ln
Ln
Ln
0
0
Ln
0
Ln
Ln
Ln
0
0
0
O
LU
lO
lD
lD
a.
lO
lO
lO
LD
LD
LD
LO
LO
LD
lD
lO
LO
lD
lD
l0
u
D00o
u
aoLno.-1LnoLn000LnLooLnm
u
Z
N
H
H
u
O
-1
-1
mt
tT
Ln
Ln
LD
LD
1,
n
N
w
w
w
Q
YJ
r-I
LO
LT
Q
r-I
H
H
r-I
r-I
r-I
H
H
r-I
H
r-1
H
r-I
"
r-I
>
v
v
v
a
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
oCW
00
Lb
o
Lb
o
Lb
a
Q
o
LX)
0
tb
0
tb
0
tb
0
Do
0
00
0
00
0
a0
0
op
0
tb
0
tb
0
a0
0
Lp
0
.00LX!
0
N
O
Q)
v)
m
a
o
0
0
0
0
0
0
0
0
o
0
0
0
o
0
0
0
0
0
o
00
r-i
LD
0
n
O
Ln
Rt
o
M
0
0
0
0
o
M
H
0
00
N
Ln
iV
-�t
0
0
n
N c
rt
N
N
M
00
r�
00
O
•-I
O
O
O
O
M
Ol
O
O
O
N
M
n
N
O
O
m
W
O
O
n
O
Ol
n
r-
o
Ln
O
o
O
O
n
Ol
N
O
t
ct
C'
n
LO
O
O
00
—
a
rI
0)
LD
01
00
M
Ol
O
n
O
o
O
O
Ol
N
Ol
O
Ol
00
r�
01
LO
O
O
00
3
7
m
r-I
ri
c-i
ri
ri
ri
ri
ri
u
o
c
m
c
0
0
0
o
o\
0
\�\\.\
0
0
o
o
0
0
o
0
0
0
Y a
rnvo
m0LnLOr-00r�m0
o
o
oo
rvrnLnooLDoo
m
;�
�
Ln
n
DO
l0
N
N
r-I
O
00
O
O
O
O
n
O
01
O
Ot
n
l0
N
n
O
O
lD
atxO
M
M
N
M
O
N
N
O�
O
O
o
O
ry
0
n
0
0
0
0
N
m
0
0
r-I
Gi
Ln
7 (IJ
00
m
H
N
t\
H
N
m
r-I
01
CO p_
L
~
o Ix
L
Y
U'�
ct
DD
O
O
l0
O
O
r-I
O
O
O
O
O
O
Ln
O
N
O
M
Ol
O
O
O
N
N
N
M
M
O
n
Ln
O'l,
O
O
O
O
O
O
O
M
M'T
0
0
0
01
c
c „)
tom-ictoow5L0000c)mmHor,00r-0000
Ln
Ln
-4Ln
oO
n
c)r-i
o
O
O
O
N
M
LD
o
O
ct
m
-t
LD
O
Ln
o
0)
a,
�1000mkDN
LnoLD01n0lnoomvrnvtDrnrn"D0v
oo
U E m
r-I
r-I
m
N
cr
O
O
r-I'
N
.--I
m
N�
N
O
Ql
to
ri
m
W
N c
E
O
0
LO
N
O
0lzd-
0
0
m
0
0
0
O
o
o
m
O
00
0
n
H
0
0
0
00
n
00
n
0
H
Ln
O
Ln
N
.--I
Ln
r�
O
O
Ln
ao
0
O
0
O
0
O
0
O
0
oo
0
n
Ln
M
O
O
Ln
Ql
n
U1
O
lD
Ln
Ln
0
4
0
O
0
O
O
Q1
[p
Ln
0)
LD
00
Ln
r-I
m
m
O
O
00
N
-4
N
00
I.i
1
Ol
H
r-i
m
N
v
00
H
O
m
m
0
00
O
m
J
Q
00
LD
n
ri'
N
Ln
0
L
�
U W
0
3
O O
00
[6
Ln
n
N
O
-t
0
0
LO
o
0
0
0
0
0
0
0
00
O
O
H
O
O
O
O)
3
N
Ln
O
-1
O1
Ln
0
0
0
0
0
0
0
0
0
0
Ln
r�
01
U1
O
O
O
O
c N
c V
ri
LD
U1
Ln
N
O
Q1
O
O
O
O
r,
O
O
Ol
U1
DO
U1
O
O
lD
0) Q
M
0
m
LO
a--1
00
m
m
Ln
Ln
Ln
O
O
N
r-i
m
Ln
m
'IT
r-I
ry
n
O
++ t
u
oo
v
r;
00
3
o
—
a c
a =3
WO
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
o
o
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
N
a
coo
O
O
o
0
0
0
O
o
O
0
0
0
0
0
0
0
O
0
0
0
Ln
O
O
>
v
o
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
00
a 3
}'
O
O
Ln
O
Ln
Ln
O
O
Ln
O
Ln
O
Ln
0
0
00
Q1
Ln
0
0
0
Ln
O
"t
Ol
p
O
O
N
ttN
O
O
N
r-1
N
N
N
N
co
a
O
0)
U
N
Y
c Y
va
c -J
0 c
u '^
Lo �
L
LL
Vi
c a
`L°
m a
O
O
o
v
E
v
a
IV
V)
V)
¢ a
U
01
cn
c
a)m
u
N
u
_
(6
p
—
c
a'
OL
Ln
,
L
M
.0
a
L
L
!Z
v
L
0
N
E
N
N
X
W
0_
'n
OJ
L
y
Ln
a
pip
c
N
m
N
0
!Z
X
N
a
C
C
p.
i1
J
Ln
'�
N
M
C
O
m
a
X
O.
X
°�
C
0)
V7
N
N
C
N
C
a
O
W\
LL
O
O.
.�
Y
u
N
00
6
W
N
N
•Y
L
W
W
00
p
•,n
O)
N
O
O
0J
00
N
Op
L
O
u
i
Qj
Cl.
u
�+
cYu
E
n°
v
v
a
m
u
>
6i
E
m
a C
c
a
.-
N
7
p
m
c
CL
,vLL
p
a
Li-
00
—
LO
of
—
f0
a`,
>
f0
�o
+'
0
U
7
LA
7
co
O
0
0_
L
0_
t
U
0J
�
0
U
7
00
L
0_
7
Q
H
—i
N
F-
N
U
C7
W
L
r—
C
C
L
F-
J
F-
Lp_ UQ
H
W
O
O
o
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
C y
Ln
W
Ln
LO
m
lD
Ln
lD
Ln
lD
Ln
LD
Ln
LO
Ln
lD
Ln
W
Ln
W
Ln
W
Ln
W
Ln
LD
Ln
W
Ln
W
Ln
LO
Ln
lD
Ln
W
Ln
W
Ln
W
Ln
W
o
W
Ln
W
Ln
l0
L0
c E
4
1 p
O
O
r�o
O
O
Ul
U1
O
O
O
O
r�o0
O
o
r-
4
U1
O
m
LD
U1
m
LL O
L.1
0)
ri
ri
N
M
I
LO
O
r-I
MIct
H
H
H
M
N
N
N
N
M
M
M
H
Q
H
N
N
N
N
N
N
m
M
m
m
Ct
mt
ct
0
Ln
Ln
0
Ln
Ln
Ln
O
r-I
W L
L?
U1
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ll
Ul
Lf,
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
Ln
LO
^
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Z
00
00
00
00
00
00
00
00
00
00
00
00
00
co
00
00
00
00
00
00
00
00
00
00
THREE YEAR (3) COMPARISON
ECONOMIC DEVELOPMENT CORP. - SALES TAX
PROSPER, TEXAS
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
A 1 Iii
Oct
$
35,207.68
$
44,256.65
Nov
$
34,244.53
$
50,494.14
Dec
$
21,036.53
$
41,443.55
Jan
$
24,351.72
$
38,800.96
Feb
$
25,908.40
$
50,935.13
Mar
$
25,422.31
$
38,930.17
Apr
$
30,373.07
$
46,632.15
May
$
44,809.83
$
53,551.26
June
$
37,130.04
$
53,684.08
July
$
40,706.63
$
56,499.49
Aug
$
51,138.44
$
62,857.90
Sept
$
43,008.76
$
63,795.99
YTD Totals $ 413,337.94 $ 601,881.47
,; A
11 FY 09-10 ■ FY 10-11 11 FY 11-12
$ 63,326.53 $
$ 71,515.61 $
$ 134,842.14 $ 40,091.35 90.59%
$ 466,667.00 Budgeted Sales Tax
$ Amount % of Change
Inc / Dec Inc /(Dec)
19,069.88 43.09%
21,021.47 41.63%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
1
Prosper --
ECONOMIC
DEVELOPMENT
CORPORATION
CASH OVERVIEW
'
END -OF -MONTH CASH OVERVIEW
December, 2012
[nt[ep. Bk
TexPool
TexSTAR
Totals
$ 2,379,449.91 $1,324.53
$ 72,249.46 $ -
$ -
Beginning Balance
1,189.65
$ 2,381,964.09
Deposits
Interest
$ -
$ -
$ 72,249.46
$ -
Withdrawals
$ 58,549.64 $ -
$ -
$ 58,549.64
Ending Balance
$ 2,393,149.73
$ 1,324.53
$ 1,189.65
$ 2,395,663.91
i
0
0
0
0
0
0
N
O
O
n
rn)
O
O
O
N-tl-
0
0
ct
O
Ln
N
Ln
O
O
U C
OR
O
O
lD
},
fL C
0
O
O
O
a-i
Cl
O
rr
rM
01
r1
N
O
O
O
b.0
LO
O
O
Ln
to •c
0
LO
O
O
C)M
r,O
00
QI
00
m
Ln
Ol
O
Ln
j •�
co E
n
lf)
•�
co
n
n
r,
CD
r,
r,
Ln
-Itr-I
r,O
r,
o
o
I
0
0
0
0\'\'
o
o\'
o
lo°
o\'
o
o\'
0
0
0\'
\'
o
\'
0
0
+� �
m
rn
o
m
+� -0
c)
00
0
O
o
00
to
0
0
LO
O
Ln
00
Ln
o
0
tiov v
Nr10
m
to v
.-+0000000rnlorl00r-rnOo
'O u
Ln
m
0
ft
'O
M
O
0
0
LO
N
O
r1
O
r1
lD
4
0
0
Ln
3 fL
�
N
Q
3
N
N
N
N
N
Tt
Lf1
00
N
N
m =
o\°\° U
m
o LL
II
0
00
C)
CD�
O
O
r1
O
r,m
0
0
r1
�
O
OI
bn
0
l�O
N
Ln
1
V
o
0
0
Ln
O
0o
O
Ol
r1
N
ct
0
0
.0 +'
Ln
N
rl
LD
Y
C •C }'
q
O
O
O
00
Ol
O
r1
fb
fb
O
N
M
O
O
C
w' fu -0
rl
Ln
%D
M
m
p
G+
rL c
` 'fu
oo
N
O�
al
LnlD
m
m
N
Ln
m
M
Ln
rl
O
n
lO
m
o,
00
N
lD
rl
fY1
rl
U 01 m
Lnr�-I
N
N
U m
rl
cr
p
O
l0
Q1
Ln
p
N
0
0
0
0
O1
O
M
n
o
o
C)
lD
0
0
LO
M
N
N
F
Ln
O
O
O
Ln
Ln
O
r1
a)
-I
DI
n
Lr)
O
O
rl
rnmm
n
rl
O
Lo
}
VI
O
o
O
rl
mLLn
O
O
00
rr
1
r1
Ct
n
LO
O
O
C:
3a
o
lD
"
c
m
C
ZT0000O10
�
r-I
Ln
fL
U
00
N
rl
m
m
U
U
To
lD
o
01
Ln
io
N
0
0
0
r1
It
O
m
ct
ri
O
O
r1
ol
0
O`
O
N
r-
7
rl
o
C)O
f-
�
O
In
r-
-:a,O
o
Ln
O
O
C
U
QI
c;rr
c;c
Y
U
Ln
O
O
O
fb
n
O
r�
4
to
O
O
o
0
0
O
Q
Kt
M
00
0) Q
O
Ln
n
DI
N
r1
pl
O
N
`
al
r\
rl
m
N
N
i
H
U C
n
f\
U c
rl
O
O
O
Q
u
osa0
0�
Oo00oo000000000
O
C
G1
u
cO
0
Q
0
0
r`o
O00000000000000
} N
�¢
6
0) -O
}
O
f)
C)
0
0
0
0
0
0
0
Ln
0
0
0
0
0
6L
*'
LD
CD
l^D
lD
0)
C "
rl
rl
O
LD
m
tt
ct
Ln
Ln
lD
O
M
O
r
LO
N
O
O
O
lD
l0
m
O
d
d
E
N
O
l0
lD
C7
N
lD
-0
00
LO
fb
N
rl
N
i 0
00
-1
O
N
u
u
C
j
_
£=
u
ai
CL
E
y
p
W
ro
O
o
v`
Lq
0
OO
o
o
rTo
°n)
y
`��
E
l
W
a
L
c
c)
rn
u
U
,n
E>>
X
rOif
O
N
0
t
w
pQj W
E
N
a/
Ol
00
P'
C
>,
O)
C
C
a
m
J
w
O
LL
0)
p
Ou
❑
N
N
+J
d
f9
f0
U
J
N
->
In
Ol
C
0
J
C
j
UJ
C
3
3
c
0)
�
a
O>
>
o2S
1
—
u
v
a
Ln
C
^
C
f°
a
Q
E
U
fY
of
v
to
of
N
LL
�o
N
c
>.
*'
O
a`
Lu
N
H
Ln
c
v
f6
a
�..'
J
N
Ln
q0
O
f0
fG
f0
rC
O
V1
O
F-
V)
VI
VI
VI
V)
L
Ln
=
p
J
J
J
Q
Z
y
0
0
0
F
0
0
0
0
0
0
0
O
0
0
0
0
0
0
O
Ln
Ln
Lo
C
30
a
Lo
Ln
Lf1
Ln
Lf1
Ln
m
m
m
Ln
Ln
Ln
Ln
Ln
I
Ln
W
lO
lO
lO
L0
lO
lO
lO
l0
Lo
Lo
LO
lO
lD
lD
lD
lO
lO
lO
O
u
D
0
0
0
u
a
o
Ln
o
r1
Ln
o
Ln
o
Ln
0
LO
la
0
Ln
m
U
N
rl
r1
u
Q
r1
rl
4
CY
Ln
Ln
Co
lO
N
N
N
00
co
00
Q
W
r1
lD
m
Q
rl
rr
rl
rl
rr
rl
rl
rl
a-i
a-i
a-i
a-i
-
-
-
>
[t
ct
d
Ln
Ln
Ln
Ln
Ln
L ,
Ln
in
Ln
Ln
Ln
Ln
Ln
Ln
Ln
W
oc
O
00
o
00
o
0o
0.10
a00
0
00
0
000
0
fb
0
ao
0
fb
0
o0
00000000
f.
00
1 CO
00
fX1
oa
co
1 00
N
O
0000000000000000000000000
0
do
oor-000000r,Lno00r1r1oNo00Nmm
t00
10
cu c
rl
al
N
m
a1
Ln
LO
0
Ln
V
O
N
O
0o
N
O
r-I
O
O
N
N
1"
N
O
O
Ln
0 'C
m
r-1
I,
Ln
-�*
Ln
r1
O
LD
Ln
o
1,
O
n
O
0
Cr
0
ct
I;t
W
N
00
O
O
0
00
w
00
LO
ai
ai
0
w
LO
o
rn
0
00
oo
O
a)
oo
rn
m
Ln
o
o
00
3
co
�
m
'u
c
o
c
0
0
0
\
0 0
0
\
0
0
\
o
\
\
a
\
o
\
\
0
\
0
\
0
\
0
\
0
\
\
\
0
\
0
\
0
\
0
\
0
\
0
\
LO
r1
C)
m
N
C)N
O
m
Ln
C:)O
CD
a)
0
0
00
CDN
al
r-
r-
LD
O
O
i..�
O N
-0
00
4
00
LO
0
Ln
m
O
�
Ln
0
00
C)
r-I
00
O
00
O
al
r�
n
N
r,
C)O
ct
"a cbD
O
00
N
4
Ln
Ct
00
0
M
-,t
O
tV
O
rV
a1
O
Ln
O
Ln
Ln
m
1,
r4
o
O
al
V)
3 p
01
r-I
M
.-•7
M
M
m
rl
a)
r1
r1
LO
v
r-1
ai
CO Q
L
~
o Lu
L
C
Ln
O
o0
0
Ln
.-1
N
o
m
O
O
m
o
O
M
O
N
0-It
m
O
O
O
Ln
0
I�
al
al
a1
Ln
Ln
O
O
r1
m
O
o
O
N
Ln
O-
O
d
m
M
Ln
O
O
O
m
C N
m
n
Ln
1,
w
0
r,
�t
O
O
o
N
o
m
1,
0
0
r
m-tt
LO
0
Ln
:
L
al C
e-i
m
m
rl
N
1,
m
0
0
m
0
0
0
r-IN
m
m
0
n
w�
m
O
C)
r-I l
u
`
m
to
m
4
Lo
-4
m
o
m
w
m
m
Ln
Ln
--Orn--t10
-It
oov0:Jl
m
rl
M
rl
000
O
000
N
r-i
m
-�F
rl
1
r1'
r-i
U m
aA
O
-1
10
M
Ca
CC
C v1
O
O
Ln
a+ f0
C
p
Ln
O
N
O
Ln
m
w
o
1-
10
0
0
o
Ln
O
O
n
O
w
o
w
r-1
O
N
LO
r-I
N
O
r-I
Ln
Ln
,3:
N
al
m
O
O
W
N
It
Ln
O
O
O
O
O
O
n
I,
u1
m
O
Ln
N
N
O
O
Ln
m
1,
m
1D
0
m-�t
O
O
0
O
O
1D
Ln
LL
f6
00
LO
LD
00
1-
N
LD
01
�
O
00
1l
m
LO
N
r1
Ln
'ct
4
LD
f0
C: 7s
o
m
.-1
Ln
oo
LO
r-I
M
ry
rn
rl
m
Ln
r1
0
O
m
v u
ai
ri
ai
ai
ni
ri
r,
7
LLI
u
L
_
3
--
- -
O O
O
ct
0
m
m
w
0
-
w
LO
O
O
O
Ln
o
0
N
0
0
0
m
O
O
00
0
f0
bD F-
Ln
M
O
W
N
ct
O
N
0
0
0
I*
Ln
O
t\
O
O
O
Ln
Cl
O
O
O
I,
C a)
rl
o
4
Ln
O
O
O
m
N
Ln
w
O
O
O
4
m
o
oo
o0
'
al
N
LO
O
N
r1
m
Ln
-t3l
O
n
t\
01
m
1�
N
a1
O
N
rl
-1
11
N
W
N
m
m
1,
m
M
Ln
rl
N
N
rl
N
O
41
U C
p
a) -
C
L
o
0
0
coo
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
o
-
3
y
La
o
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
u
N
-O
O
o
O
o
o
O
oo
o
o
0
o
o
O
o
0
0
0
o
o
o
o
o
o
Ln
o
O c
}
v
0
0
0
0
0
0
0
0
0
0
0
0
00
0
0
0
0
0
0
0
0
0
o
m
ca. 3
4'
�"�
O
O
Ln
O
Ln
Ln
o
O
Ln
O
Ln
O
Ln
O
o
00
al
Ln
O
O
O
Ln
O�
a)
O
ip
O
ry
Ct
N
o
O
N
-f
N
-1
4
O
C
N
Ct
N
N
O
�
j
Q
.I
U
O
C 41
O_
N
u
c
c
L`
US Q
c
C
p
°
Q
E
In
m
L
a�
Ln
ct
.L
�
a1
W
C
a�i
u
.,
al
m
au
C
C
O
d v
m La
u
Ul
v
C
L
.�
Q.
O
'�
u
C
y
f�O
i
a
QQ
cu
i
p
.Q
al
N
N
p
X-
w
a
w
aJ
•�
aj
Q
X
0D
c
C
.0
+w
c
p Q
Co
Ln
w
E
c
a
N
La
=
'c
C
C
CO0
o
a
a'
c
�+
�,
a
w
�
X
Ln
Li
O
o
�,
co
h
to
W
6
v
N
m
p
m
L
X
W
X
W
m
aD
p
•�
v
a)
v
a1
c
O
c:
O.
Y
O
W
al
Ua
v
L
a
O-
•C
u
C
w
LL
aJ
On
},
O
C
L.L.
u
v�
0D
m
O
Q
0i
fa
Y
O.
-0
al
u
v
La
1-+
+'
O.
La
+'
aJ
a
"a
,�
Y
aJ
ra
4-
G.'
Ql
O_
—
CO
L
u
a1
>
la
m
.0
I�i7
C
La
to
C
C
0
a=
7
7
`�
7
0
p
>-
M
L
C
a1
0
._
7
O
L_
7
w
oa
a�
c
0
al
Ql
m—
c
co
i
>
N
m
0
O
L LL
U
Vl
CO
0
o
D_
D_
U
il'
U
m
O
Q
J
U
F-
U
C7
W
G
J
E-
ty 0
N
W
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
coo
00
O
O
O
O
w
t,
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
c
C
Ln
Ln
Ln
Ln
m
o
Ln
Ln
Ln
Ln
m
Ln
Ln
Ln
Ln
Ln
Ln
Ln
o
Ln
Ln
o
Ln
o
Ln
LO
E
0
1D
O
10
O
lD
N
lO
0
10
0
1?
0
LD
Ln
lO
Ln
lO
o
1D
O
I?
O
10
O
T
N
10
00
1D
O
1D
O
1D
O
1D
-1
LD
�
19
ui
19
O
10
m
10
1D
1D
Ln
10
m
c
u-
u
M
r1
1--1N
m-T
w
O
1-4
m�
r1
1--1
r1
M
00
N
N
N
N
M
M
m
H�
w
Q
rl
N
N
N
N
N
N
m
m
m
m���
-t
C
Ln
Ln
Ln
Ln
Ln
Ln
Ln
O
-1
j.LI
L!1
Ln
Ln
L�1
Ln
Ln
Ln
L i1
In
Ln
Ln
Ln
Ln
Ln
Ln
Ln
u1
Ln
ul
Ln
Ln
Ln
O
Ln
1D
r�
r
4
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
'O
w
w
w
w
w
w
w
w
w
w
w
w
00
00
00
00
00
00
00
00
00
00
00
00
coL
THREE YEAR (3) COMPARISON
ECONOMIC DEVELOPMENT CORP. - SALES TAX
PROSPER,TEXAS
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$ 20,000
$10,000
O�� �°, Qec •lam Fe �a� _ P�� �aJ �J�e � �J�J pJQo 5�Q� .
■ FY 09-10 ■ FY 10-11 ■ FY
Month
Oct
$
35,207.68
$
44,256.65
Nov
$
34,244.53
$
60,494.14
Dec
$
21,036.53
$
41,443.55
Jan
$
24,351.72
$
38,800.96
Feb
$
25,908.40
$
50,935.13
Mar
$
25,422.31
$
38,930.17
Apr
$
30,373.07
$
46,632.15
May
$
44,809.83
$
53,551.26
June
$
37,130.04
$
53,684.08
July
$
40,706.63
$
56,499.49
Aug
$
51,138.44
$
62,857.90
Sept
$
43,008.76
$
63,795.99
YTD Totals $ 413,337.94 $ 601,881.47
$ 67,326.53 $
$ 71, 515.61 $
$ 72,249.46 $
$ 211,091.60 $ 74,897.26 169.23%
$ 466,667.00 Budgeted Sales Tax
$ Amount % of Change
Inc / Dec Inc /(Dec)
23,069.88 52.13%
21,021.47 41.63%
30,805.91 74.33%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Memorandum
TO: PEDC Board of Directors
FROM: PEDC Staff
DATE: 1-11-13
RE: PEDC Staff & Marketing Report
DEVELOPMENT ACTIVITY
CONFIDENTIAL
Terra Verde — Jody Hanson, publicist for Terra Verde, informed PEDC staff that a groundbreaking ceremony will be tentatively
held February 19`h or 201h at the site. This will be a good opportunity to continue Prosper's momentum of growth in the
media.
First Interval Swimming, LLC — This group of investors is looking to construct and own a new 50-meter indoor swimming
pool for their swim team that now has over 500 youth athletes. The City of Frisco is offering financial assistance toward
the infrastructure of the building. Robert was contacted by the team's investors, and he arranged for them to meet with
Joe Hickman of Blue Star Development. Hickman expressed strong interest in having this facility, or a similar one, built
by the team on his land in Prosper. Both groups will continue to explore possibilities. The PEDC is not expected to
participate but only facilitate.
Project Double J — The Town Council held a Special Called Meeting on December 3151 to finalize the Development and
Financing Agreement. The PEDC's Economic Development Agreement had already been approved by the PEDC Board
at its December 191h meeting. After some deliberation and negotiation on final deal points, the Town Council approved
the Development and Financing Agreement and the project was announced within 48 hours. The feedback to the PEDC
has been very positive. Media coverage has been extensive and for the most part, accurate. This project is a good
example of the types of projects that can be achieved when many facets of our Town come together for a common cause.
As a follow-up to the announcement, the PEDC office sent a large flower arrangement to the office of Matthews
Southwest, congratulating Jack Matthews and his company team for their commitment to Prosper. Also, Robert wrote
congratulatory notes to both Matthews and Joe Drysdale.
15-Acre Data Center — PEDC has learned from Oncor that the transmission line running through the primary site for a data
center in Prosper is a 345 kv line, which is more costly to tap into for a substation. Data centers that require 10 megawatts
or more of electricity typically need a line that is 138 kv or larger. The 138 kv lines are much more favorable for
substations used by data centers, however, it is possible for a data center to tap into the 345 kv line in Prosper. It would
just be more costly. On a positive note, the soil on the north side of US 380 is much better for development than the soil
along the transmission line south of 380, which has a great amount of shifting clay. More information is being gathered
on the Prosper site before it can be marketed to data center developers.
Prosper Gardens — PEDC provided some prospects to broker Britton Lankford of Bright Realty in Dallas who is repreentign
his client, Mike Fazeli, who owns land on the southwest corner of Coit Road and Prosper Trail. Fazeli plans to develop
his acreage into an office/retail complex called Prosper Gardens. The PEDC will continue to assist Fazeli and Bright
Realty market this complex to prospective tenants.
Retail Developments — Robert met with a large retail developer recently that has inquired about developing in Prosper.
Also, Robert attended the Weitzman Group's Annual Forecast. Craig Hall and Ross Perot, Jr. were panelists; they
expressed bullish optimism on the economy, particularly in the DFW Metroplex. Hall is building two additional office
buildings in Hall Office Park (Frisco) while Perot's Hillwood Development purchased another 1,000 acres near Alliance
Airport in Fort Worth. Meanwhile, Robert has also attended three retail developer roundtable meetings in Dallas and each
time, retail brokers have expressed a strong interest in getting a "windshield tour" of Prosper.
Lookadoo Building — Don Lookadoo, developer of a new office building on North Preston Road, provided schematic
designs of the building as well as a site plan (supplement in your board packet). He hopes to commence with construction
} within the next few weeks.
l .
PEDC Activity Update — Page 2
January 11, 2013
PARTNERSHIPS
Prosper ISD —Robert visited with Johnny Warren, land broker for Prosper ISD, regarding housing development and future
school sites.
Texas Economic Development Council (TEDC) — Robert is chairing the Sales Tax Committee of the TEDC which will begin
meeting within the next week on potential legislation that would restrict use of 4A funds for economic development. Robert
has received assurances from Craig Hall and Ross Perot, Jr. that they will provide testimony in defense of the use of these
funds, the Emerging Technology Fund and the Texas Enterprise Fund.
MARKETING / PUBLIC RELATIONS
Broker & Investor Meetings in Metroplex —Robert made three (3) presentations to brokers and investors in North Dallas in
December and last week. He will speak at two different investor meetings next week in Dallas. Much attention has been
focused on Prosper since the December 31" announcement of Matthews Southwest coming to Prosper.
DFW Marketing Team — Robert participated in the stakeholders' meeting of this regional marketing group.
Prosper EDC Website — The website will undergo revisions and updates next week. Articles on the new Matthews Southwest
announcement will be featured.
Marketing flan — PEDC staff was planning to present a marketing plan to the Board at its December meeting, however, this
plan will no\v be drafted after the Strategic Plan is approved by the Board at its January 161h meeting.
Aerial Maps — Beth has begun revising and marking up the aerial map in preparation for printing. Typically, PEDC would order
500 or 1000 maps, however, with the much increased interest in Prosper by prospects and brokers, PEDC will now order
2,000 or 3,000 aerial maps. They should be ready for distribution sometime next month.
RETAIL
Prosper Town Center — PEDC staff is assisting John Harris and Town Engineer Hulon Webb with drafting the legal documents
pertaining to the partnership between the Town, PEDC and Harris on site drainage improvements at First Street and Preston
Road. Last summer, the PEDC had agreed to provide $50,000 toward these improvements.
Broker Interest — PEDC has been inundated with requests for `windshield tours' of Prosper, particularly after the
announcement of Matthews Southwest. Several tours and visits have been scheduled over the next three weeks. PEDC
print materials are running low and have been revised and reordered as a result of the dramatic interest.
ADMINISTRATIVE
Tax Abatement Guidelines — The PEDC discovered that the Tax Abatement policy for Prosper was last approved in 2005.
State tax code requires this abatement policy be approved the Town Council every two years. PEDC will work with the new
town manager to revise and re -adopt this policy.
PEDC Strategic Plan— PEDC staff drafted a strategic work plan and with assistance from Chairman Jim Wicker, PEDC staff
drafted a one -page Vision and Goals & Objectives for 2013. The Board will discuss this plan at its January Board meeting.
PEDC Cash Flow Schedule — The cash flow schedule that was presented to the Board at its November meeting will be updated
and presented to the Board as part of the Board packet for the January meeting.
PEDC Activity Update — Page 3
Janumy 11, 2013
Prosper
ECONOMIC
DEVELOPMENT
CORPORATION
Calendar
January 16
6:00 pm
PEDC Board Meeting
Board & Staff
January 21
All Day
PEDC Office Closed for Martin Luther King, Jr.
Staff
Holiday
January 22
All Day
First Day for New Town Manager, Harlan
Staff
Jefferson
February 20
6:00 pm
PEDC Board Meeting
Board & Staff
Feb. 26 — Mar. 1
6:00 pm
TEDC Legislative Conference in Austin
Robert
March 11-15
All Day
Prosper ISD Spring Break -- FYI
March 20
6:00 pm
PEDC Board Meeting
Board & Staff
Prosper Economic Development Corporation
Goals & Objectives 2013
VISION
The vision of the Prosper Economic Development Corporation is to remain aggressive and intentional in
its efforts to bring quality strategic development and long-term growth to Prosper including job creation
and capital investment, maintaining Prosper's sense of community.
Strategic Focus I Quality Development I Sense of Urgency
GOAL #1: Attract new business to suimort dev�nment and growth of existina ur
a) Support existing significant developers in Prosper including but not limited to Matthews
Southwest, Blue Star, Terra Verde, LandPlan;
b) Continually seek out prospective businesses and tenants and connect with appropriate
developments;
c) Work with existing developers to overcome challenges; and
d) Incentivize prospective tenants for the purpose of job creation and increasing tax revenue.
GOAL #2: Target & develop strategic public/private partnerships that facilitate desired growth,
a) Develop an in-depth database of prospects, site -selectors, brokers and developers;
b) Participate in "Real Professionals" broker and investor meetings in the DFW area;
} c) Build and maintain relationships with Prosper residents that own/manage businesses in the
J DFW area to identify opportunities to enhance Prosper as a "business friendly" area and solicit
existing businesses to move their businesses to Prosper; and
d) Work with local colleges and universities to ultimately establish facilities in Prosper.
GOAL #3: guild strategic alliances and pa_rtnershW.
a) Fully utilize business incentive programs offered by the county, state and federal governments;
b) Raise awareness of Prosper as a prime location for business with the Office of the Governor;
c) Coordinate development efforts between PEDC, Town of Prosper and Prosper ISD; and
d) Collaborate with Town leadership on identifying development and job creation opportunities.
GOAL #4: Market and promote Prosper.
a) Develop a Marketing Plan that outlines ways in which to promote the Prosper;
b) Create a message about Prosper that attracts prospective businesses and investors;
c) Promote Prosper within desired industry associations such as ICSC;
d) Increase the frequency of press announcements to increase exposure & awareness of Prosper;
and
e) Participate in joint efforts to promote Prosper within the state, Metroplex and Collin County;
GOAL #5: Improve the efficiency of the PEDC.
a) Seek ways to improve the performance of day-to-day operations of the PEDC staff;
b) Create a library of facts and photos on Prosper that can be efficiently shared with prospects;
c) Improve communications systems at the PEDC office; and
d) Organize electronic and paper files and archives.
Prosper
DEVELOPMENT
CORPORATION
The following are supplemental items for
your interest and not support materials for
the Board meeting packet.
FYI
Prosper InkS Deal on
Multi -Use Development
From Staff Reports
The Town of Prosper
closed out 2012 on a high
note by approving a new
development near the
coveted corner of U.S. 380
and the Dallas North Toll -
way.
On Monday, Dec. 31,
the Prosper Town Coun-
cil and Prosper Economic
Development Corporation
approved agreements for
a public/private partner-
ship on a 157-acre mixed -
use development on the
northwest corner of the
Dallas North Tollway and
U.S. Highway 380 with
Dallas- based developer
Jack Matthews of Mat-
thews Southwest (MSW).
MSW closed financ-
ing on the property with
plans to develop more
than three million square
feet of retail, medical,
office, residential, hotel
and entertainment space.
Property, sales and other
tax rates will not increase
as a result of this project.
Prosper Mayor Ray
Smith said these are ex-
citing days for Prosper.
"Jack Matthews under-
stands Prosper and un-
derstands quality devel-
opment," Smith said. "We
are committed to pursu-
ing quality commercial
developments that will
bring jobs and sales tax
dollars into Prosper."
Prosper EDC director
Robert Winningham said
the deal is part of the
"clear vision" from the
town.
"Mayor Smith and
the Town leaders have a
clear vision for bringing
quality growth to Pros-
per while at the same
time maintaining Pros-
per's sense of community.
Matthews Southwest is a
world -class developer and
has a reputation of pro-
ducing high -quality de-
velopments. They will be
a great partner with the
Town of Prosper."
The timeline for the
project has not been con-
firmed and further details
will be released as deci-
sions are made.
Boom times for a town called Prosper Page 1 of I
Text Paper
NORTH TEXAS GROWTH
Boom times for a town called Prosper
Highway links transform farming community into a bustling municipality
By MICHAEL E. YOUNG
Staff Writer
PROSPER — With a key spot on the fast-growing U.S. 380 corridor, the Dallas North Tollway corridor and the famed Golden Corridor along Preston Road, Prosper embodies the oldest truism in
location.
Over the last two decades, the old farm town's population doubled and then quadrupled, and now seems to jump almost monthly. With 1,141 people in 1990, Prosper skipped to 2,317 in 2000 al
at about 13,500 according to the Cty's current estimate.
But that's nothing compared to the vision for this 27-square-mile town included in its latest comprehensive plan. Over the next 20 years or so, Prosper could be home to 75,000 to 80,000 people
director, Chris Copple.
"The estimates have build -out around 2035," he said, "but with the amount of plat plans I'm seeing, it might be a little quicker."
With prosperity comes challenges, though, and Mayor Ray Smith said one of the biggest is providing infrastructure and amenities while keeping the municipal budget under control
"People who have moved to Prosper, a lot of them from Allen, Plano or Frisco, they're used to high -quality amenities," Smith said, "Ourjob as a council is to try and provide them and keep the bu
The number of building permits has set records in each of the last two years: 373 in 2011, and more than 450 so far in 2012, Copple said And it appears those ere just the beginning of a much t
"A couple of weeks ago, I was telling the staff that with the development applications I have, we had plats for 1,300 lots in four different plans — and that was just on Monday," he said.
And a good supply of available building lots is a big deal
"Even though we're setting records [on housing perils], the big question people have is whether there are lots available," Smith said. "Everybody is trying to get this economy going again, which
a bathtub, but I'm seeing the nose of it in Prosper anyway."
The comprehensive plan approved by the town council a few months ago creates a place that is 75 percent residential and 25 percent commercial, with the commercial property along U.S. Highv
town officials hope will become the next segment of the Dallas North Toll -way, and along Preston Road, now in the final phases of an expansion to six lanes
"Scheduled completion is February 2014 for all six lanes through Prosper," Copple said, "and now the landowners and developers are coming in to talk about timing, land use plans, that sort of tl
Openlha Nawspaber
http://digital.olivesoftware.com/O1 ive/ODE/DallasMorningNewsILandingPagelLandingPag... 1 /3/2013
Prosper hires town manager Flower Mound ousted last year after council dispute I Dallas,. Page 1 of 2
U Prosper hires town manager Flower Mound ousted last year
after council dispute
By WENDY HUNDLEY and MATTHEW WATKINS
Staff Writers
Published: 09 January 2013 09:57 PM
Former Flower Mound Town Manager Harlan Jefferson, fired in October after a dispute with the Town Council, has been hired for the same job by the town of
Prosper.
Jefferson's hiring was made official Tuesday night by unanimous vote of the Prosper Town Council.
Mayor Ray Smith said the council chose Jefferson from 55 applicants because of his experience dealing with fast-growing cities.
Prosper, which includes growing corridors north of Frisco along the Dallas North Tollway, Preston Road and U.S. 380, has 13,500 people.
In the next two or three decades, town officials expect the population to grow to 70,000, which is about the number of residents in Flower Mound,
The town will need to be able to keep up with growing infrastructure demands while maintaining quality of life. Smith said.
"Our vision is to try to stay ahead of it, but sometimes the growth gets out there pretty rapidly," Smith said. "What is built is more important to us than how it is built.
With Harlan's background, he understands that and he will make a good addition to our staff."
Jefferson will replace Mike Land, who resigned as town manager in June to take a deputy city manager job at Coppell. Lyle Dresher, a retired former city manager of
Argyle, held the job in the interim.
"My nearly 30 years of local government service includes a successful track record in handling growth and economic development issues, as well as a strong
commitment to providing excellent customer service, as indicated in citizen surveys," Jefferson said in an email.
He said his most immediate challenge will be to provide the infrastructure to accommodate planned developments, including the 2,300-acre Windsong Ranch and
Gates of Prosper projects,
Prosper officials cited Jefferson's accomplishments in Flower Mound, including overseeing development of a 158-acre mixed -use project, securing more than $120
million from the Regional Transportation Council for roadways, shepherding a successful dedicated sales tax election and expanding parks, trails and other amenities
Friction at old job
But Flower Mound was criticized in a 2012 survey of developers for being a difficult place to do business.
After Jefferson was placed on paid administrative leave in late September, Mayor Tom Hayden cited the lack of a "positive working relationship" needed to accomplish
the council's economic development goals.
Jefferson's supporters rejected the notion that he was a hindrance to development, noting that he was implementing regulations put in place by town councils over the
years.
He addressed the council's concerns in an August memo, released this week by Flower Mound in response to a public information request made in September by
The Dallas Morning News.
"Council does not believe that I am 'on board with changing the culture,"' Jefferson stated in the document that outlined actions taken by the town to foster
development.
Jefferson also cited another reason he believed his job was in jeopardy: his refusal to terminate four employees, including Police Chief Kenneth Brooker and Assistant
Town Manager Kent Collins. All four remain employed in Flower Mound.
"I never would suggest to him that he hire orfire employees. That's outside my scope," Hayden said Wednesday.
"I would never willfully violate the town charter," he added.
i
http://www.dallasnews.com/news/community-news/prosperlheadlines/20l 30109-prosper-h... 1 / 10/2013
Prosper hires town manager Flower Mound ousted last year after council dispute I Dallas,. Page 2 of 2
ti FM mayor's take
Flower Mound's town charter prohibits council members from interfering in the town managers appointments and removals, Violations are considered misconduct and
could result in removal from elected office.
Hayden provided a copy of his response to Jefferson's August memo. "As I read the comments about the council wanting to terminate individuals, you are off the
mark. I'm focused on you," the email stated,
Flower Mound hired Roanoke Town Manager Jimmy Stathalos to replace Jefferson.
whundley@dallasnewscom; mwatklns@dallasnews.com
Pleasant Grove girl died
from flu, health officials
confirm
Cowboys interviewing Dallas Plan Commission Vognar's quick -hit
Monte Kiffin, 72, as to reconsider gas drilling reactions to the Oscars:
target to replace Rob permits "Lincoln" sitting pretty;
Ryan shockers for best
director
http://www.dal lasnews.com/news/community-news/prosperlheadlines/20l 30109-prosper-h... 1 / 10/2013
Developer Jack Matthews buys 157 acres in Prosper - Dallas Business Journal Page 1 of 2
From the Dallas Business Journal
:http://www.bizjournals.com/dallas/news/2013/01/08/developer-jack-
matthews-buys-157-acres.htmI
Jan 8, 2013, 2:32pm CST Updated: Jan 9, 2013, 10:19am CST
Developer Jack Matthews buys 157
acres in Prosper
Candace Carlisle
Staff Writer- Dallas Business Journal
Email I Twitter I Twitter I Goo le
Developer Jaack Matthews has acquired 157 acres of land at the northwest corner of the
Dallas North Tollway and U.S. 380 in the Town of Prosper where he plans to build a $1
billion regional mixed -use development.
Terms of the land deal were undisclosed.
Plans for the public -private project include more than 3 million square feet of office,
residential, retail, medical, hotel and entertainment space.
"The location is incredible," Matthews said. "We were surprised we could still purchase it. If
you look at the history of Dallas, this is the next major natural intersection where a major
east -west thoroughfare meets the Tollway. It's natural for development."
Matthews has been working with the Town of Prosper for the past year and a half. The first
parcel of the two -parcel land deal — 127 acres — closed on New Years Eve after the town
agreed to the proposed development plans. The second parcel of land — 30 acres — is
scheduled to close on Friday.
The buyer, Dallas -based Matthews Southwest, was self -represented in the purchase of a
tract of land from the St. Clair Family. Ray Utley of A. Ray Utley & Co. worked on the deal.
John St. Clair of Henry S. Miller represented the family.
David Davidson Sr. of Davidson Real Estate Inc. represented Matthews Southwest in the
purchase of the second tract of land from Centurion American. Ken Reimer, David Davidson
Jr. and Edward Bogel of Venture Commercial's recently formed land division represented
Centurion.
http://www.bizjournals.com/dallas/news/20l3/Ol/O8/developer jack-matthews-buys-l57-a... 1/11/2013
Developer Jack Matthews buys 157 acres in Prosper - Dallas Business Journal Page 2 of 2
The Town of Prosper agreed to a tax incentive agreement based on the performance of the
project and the increase of property values, said Mayor Ray Smith.
"This is one of the key corridors of our community," Smith said. "Jack has done a lot of nice
development and has the relationships to develop a quality project. We don't just want
growth, we want quality growth."
So, how is the project envisioned? Matthews says he plans to develop the site into another
mixed -use destination, such as the Legacy area or Addison Circle.
"It's going to be an area where office, residential and retail come together," Matthews said.
"You have a natural amount of traffic there and it's incredibly convenient. It's the right thing
to do on this piece of land."
Matthews plans to break ground after securing tenants for the development. Venture
Commercial's Reimer, Davidson Jr., Bogel and Katie Vance is marketing the project.
Candace covers commercial and residential real estate and sports business.
http://www.bizjournals.com/dallas/news/20l3/Ol/O8/developer jack-matthews-buys-157-a... 1/11/2013
Dallas -Fort Worth shopping center market sees big gains in leasing in 2012 1 Dallas -Fort
Page 1 of 2
•- t
II r - .. ..
i exclusive offers i - forexisting customers
o Dallas -Fort Worth shopping center market sees big gains in
leasing in 2012
By STEVE BROWN
Real Estate Editor
stevebrown@dallasnews.com
Published: 09 January 2013 09:21 PM
The closed storefronts and empty big -box stores that were poignant signs of the recession are quickly disappearing in North Texas,
In 2012, the Dallas -Fort Worth shopping center market had its best year since before the economic downturn started.
Net leasing to expanding retailers totaled 3.8 million square feet last year, the highest leasing total since 2004,
And vacancy rates dropped to just over 10 percent.
"This is the biggest turnaround we've had in years," Herbert Weitzman, chairman of Dallas -based retail real estate firm Weitzman Group, said Wednesday at the frm's
annual economic forecast meeting.
"The huge wave of vacant boxes, which came on the market in 2010, has now gone away,"
Almost half of the increase in retail leasing came in community shopping centers, often anchored by supermarkets, Weitzman Group said.
Much of the retail growth in the Dallas -Fort Worth area has come from expansions by grocers and food and beverage merchants, including Central Market, Wal-Mart,
Kroger, Trader Joe's, Spec's and Total Wine.
Mixed -use centers
Mixed -use centers — retail projects that combine shops and restaurants with other types of construction — also had a good year, with overall vacancy rates falling to
near 8 percent.
"This category suffered more than any other during the recession," said Weitzman executive vice president Michelle Caplan. "Last year was the first time in five years
that mixed -use retail space reported less than 10 percent vacancy."
Even the big regional malls in North Texas saw strong leasing, with an overall vacancy at the start of 2013 at just 6.5 percent, according to Weitzman Group
"Both housing and jobs are coming back, and the retail market is, too," Caplan said. "But we are not fully recovered yet.
"With a few more years like 2012, we should see that vacancy rate continue to sink."
Still below decade ago
While demand for retail space in the D-FW area more than doubled from 2011, it is still well below where it was almost a decade ago, In 2004, net leasing totaled 4.8
million square feet in North Texas. The record year was 2000, with more than 8 million square feet,
The bottom of the market came in 2009, when less than 500,000 square feet of net retail leases were reported.
"After admittedly some rough years, we are back to an occupancy rate above 89 percent," said Weitzman managing director Robert Young, "We are now about back
where we were five years ago before the recession started" in terms of vacancy rates.
The number of large vacant stores in Dallas -Fort Worth has fallen more than a third since 2010-
But while demand from retailers boomed in the last 12 months, developers are mostly on the sidelines.
Less than 1.2 million square feet of new space — most of it in just four shopping centers —was added to the D-FW retail market in 2012. The biggest chunk of new
retail space, 432,000 square feet, was in the Paragon Outlets shopping center in Grand Prairie.
E I
North Texas shopping center openings in 2012 were at the smallest volume since the early 1990s.
http://www.dallasnews.com/business/retail/20130109-dallas-fort-worth-shopping-center-m... 1 / 11 /2013
Dallas -Fort Worth shopping center market sees big gains in leasing in 2012 1 Dallas -Fort ... Page 2 of 2
"For a market with a total of 186 million square feet of retail space, adding 1,17 million square feet is merely a blip," Young said,
The outlook for 2013 is for continued slow retail construction.
"We have a window of opportunity to fill up our existing centers before the next wave of construction," Weitzman said.
Developers are hobbled by tight financing and a lack of prime construction sites. Weitzman said.
"If there is a vacant lot in Uptown today, it won't be vacant very long," he said. "The challenge is retail land is so scarce and very expensive that it makes it difficult to
get a project done."
Weitzman said many former shopping center sites have been gobbled up in the apartment building binge.
That's why he is bullish on recycling older retail centers that are in good locations,
"At no time in the past decade has the upside for older centers been better," Weitzman said. "We have seen numerous remodels and renovations and expansions.
"With the existing housing market improving, a remodeled center today has an excellent chance."
Follow Steve Brown on Twitter at @SleveBrownDMN.
NFL veteran Monte Dallas ISD adds two G Gordon Keith: A Guide Picks: 15 must-
Kiffin agrees to be new chiefs; Jennifer decidedly askew view of see museums in Dallas -
Cowboys' defensive Sprague officially the Perot Museum Fort Worth
coordinator resigns
http://www.dallasnews.com/business/retail/20130109-dallas-fort-worth-shopping-center-m... 1 / 11 /2013