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Council authorizes town manager to pursue economic incentive agreement with Prosper Tollway Plaza LLC
Summary
After closed session the council authorized the town manager to negotiate an economic development incentive agreement with Prosper Tollway Plaza LLC; the motion was moved by Council Member Reeves and passed unanimously.
Following a closed executive session, the Prosper Town Council returned to open session and authorized the town manager to negotiate an economic development incentive agreement with Prosper Tollway Plaza LLC.
Council Member Reeves moved to authorize the town manager to proceed with the economic development incentive agreement; the motion was seconded by Amy Bartley and passed unanimously. The council did not discuss the terms of the agreement in open session; the action was taken following executive‑session deliberations consistent with the agenda’s economic‑development item.
The town will now proceed with negotiation and any final agreement or incentive package will be returned to council for ratification if required by the town’s procurement and agreement rules.
