05.31.06 PEDC Special Meeting AgendaProsper
ECONOMIC
DEVELOPMENT
CORPORATION
1. Call to Order / Roll Call.
AGENDA
Special Meeting of the Economic Development
Corporation
121 W. Broadway Street, Prosper, Texas
Wednesday, May 31, 2006 - 6:00 p.m.
2. Discuss and provide recommendation to Town Council on Stock Building Supply's business assistance application on
approximately 20 acres of land located at the southwest comer of the Intersection of Prosper Trail and South Coleman
Street in the Town of Prosper:
A. Possibly establishing and designating a reinvestment zone for commerciallindustrial tax abatement pursuant to
Chapter 312 of the Texas Tax Code and discuss and provide recommendation on the terms and conditions of such
Agreement. The zone would consist of 116191 acres, legally described as Block Z, Tracts 34, 38, and 66, Collin
County School Land No. 12 Survey, Abstract No, 0147 and 6.423 acres, legally described as Block $ Tract 37,
Collin County School Land No. 12 Survey, Abstract No. 0147, being located at the southwest comer of the
Intersection of Prosper Trail and South Coleman Street in the Town of Prosper.
B. Possibly establishing an economic development program under Chapter 380 of the Local Government Code and
possibly approving an economic development program grant agreement with Stock Building Supply.
C. Possibly approving reimbursement agreements for certaln construction projects costs and reduction of certain
development fees.
3. Recess into Closed Session in compliance with Section 551, Texas Government Code, to wit:
A. Section 551.087 (Economic Development Negotiations) — Deliberations regarding commercial or financial
Information that the Economic Development Corporation has received from business prospects that the Economic
Development Corporation seeks to have locate, stay, or expand In the Town and with which the Economic
Development Corporation is conducting economic development negotiations.
4` Reconvene into regular session and take any action necessary as a result of the closed session.
5. Adjourn.
Note; The order in which items are heard on the agenda is subject to change,
CERTIFICATION
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on the inside window at the Town Hall of the Town of
Prosper, Texas, a place convenient and readily accessible to the general public at all times, and said Notice was posted on the following date
and time: Friday, May 26, 2006 by 5:00 p.m. and remained so posted at least 72 hours before said meeting was convened,
Karen P. Gandy, Executive Di tor, Prosper Economic Development Corporation
Date Notice Removed
In addition to any specifically identified Executive Sessions, the Economic Development Corporation may convene into Executive Session under Section 551 of the Texas
Government Code at any point during the open meeting to discuss any item posted on this agenda. The open Meetings Act provides specific exceptions that require that a meeting
be open. Should the Economic Development Corporation choose to convene into Executive Session, those exceptions will be specifically identified and announced. Any subsequent
action, as a result of this Executive Session, will be taken and recorded in open session