11.16.22 PEDC MinutesP13f-%SPER,l"EXAS
ECONOMIC DEVELOPMENT CORPORATION
Meeting of the Prosper
Economic Development Corporation
121 West Broadway Street
Prosper, Texas 75078
Wednesday, November 16, 2022, 6:00 P.M.
Call to Order and Announce a Onortim is Present
Board President Jordan Simms called the meeting to order at 6:01 P.M. Board members present were Vice
President David Blom, Mayor David F. Bristol, Treasurer Ray Smith, Secretary Don Perry, and board members
Chad Gilliland and Roger Thedford. Executive Director Mary Ann Moon and Sr. Economic Development
Specialist Susanne Barney were present. Wilson and Grace Parmar from Peachtree Group were in attendance.
1. Comments from Citizens
The Parmars introduced themselves to the board and staff. They spoke about the full -service hotel they will build
in Prosper that will create 70+ jobs.
2. Election of officers to the PEDC Board of Directors.
David F. Bristol made a motion to nominate:
Jordan Simms for President
David Blom for Vice President
Don Perry for Secretary
Ray Smith for Treasurer
The motion was seconded by Ray Smith and approved 7-0 by all board members present.
3. Approval of Minutes from October 19, 2022 board meeting.
Chad Gilliland made a motion to approve the minutes from the October 19, 2022 PEDC board meeting. The
motion was seconded by David F. Bristol and was approved 7-0 by all board members present.
4. Consider and Act on approval of PEDC Financial Report for the month of October 2022. Take any
additional action necessary.
Ray Smith overviewed the financial reports for the board and staff. David F. Bristol made a motion to approve
the PEDC Financial Report for October 2022 as presented. The motion was seconded by David Blom and approved
7-0 by all board members present.
5. Consider and act on approval of the services agreement between Strategies 360 Texas LLC, the Town of
Prosper and the Prosper Economic Development Corporation.
Take any additional action necessary.
David Blom made a motion to approve the services agreement between Strategies 360 Texas LLC, the Town of
Prosper and the Prosper Economic Development Corporation. The motion was seconded by Chad Gilliland and
approved 7-0 by all board members present.
6. New Businesses Update.
The board was provided with a list of the newest businesses receiving their COs in Prosper, Tx.
7. Executive Director's Report: Administrative and Marketing Activities of the PEDC and Upcoming Events.
Mary Ann Moon presented her Administrative and Marketing report to the board and staff including the
Broadband update and small business assistance.
8. Downtown Development Update.
Mary Ann updated the board and staff regarding the Downtown Development progress.
9. Confirm or Change the Next PEDC Board Meeting scheduled for Wednesday, December 21, 2022.
The next board meeting was confirmed as Wednesday, December 21, 2022.
PEDC Minutes —page 2
Board President Jordan Simms recessed the regular meeting at 6:49 P.M.
10. Convene into Closed Executive Session Pursuant to Texas Government Code:
• Section 551.087— To discuss and consider economic development negotiations to deliberate commercial and
financial information and economic incentives related thereto.
• Section 551.072 — To discuss and consider purchase, exchange, lease, or value of real property for municipal
purposes and all matters incident and related thereto.
• Section 551.074 — To discuss and consider personnel matters and all matters incident and related thereto,
Board President Jordan Simms called the meeting into Closed Executive Session at 6:49 P.M.
The PEDC Board met in Closed Executive Session from 6:49 P.M. to 7:57 P.M.
11. Reconvene into Open Session and Take Any Action Necessary as a Result of Closed Session Deliberations.
Board President Jordan Simms reconvened the meeting into Open Session at 7:57 P.M.
No action was taken.
12. Adjourn
Ray Smith made a motion to adjourn. The motion was seconded by Roger Thedford.
The PEDC Board meeting adjourned at 7:58 P.M.