* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:02] JUST NOW SIX O'CLOCK. [(EDC) Board Meeting/(CDC) Board Meeting] I'M GOING TO BRING THIS MEETING OF THE CITY OF HUDDLE, ECONOMIC DEVELOPMENT CORPORATION, BOARD TO, UH, ORDER. UH, IT'S A SPECIAL MEETING THAT WE'RE HAVING. WE CALL ROLL CALL PLEASE. CHAIRMAN MIKE, ERIC MENDEZ. VICE-CHAIR DON CARLSON BOARD MEMBER, SEAN LUCAS, PRESENT BOARD MEMBER, VICTOR HENRY BOARD MEMBER, MIKE SNYDER, BOARD MEMBER RANDALL CLARK PRESENT BOARD MEMBER CHENEY, KIMBELLA. WE DO HAVE A QUORUM PRESENT WITH FIVE MEMBERS. LET'S MOVE ON TO ITEM NUMBER THREE, PUBLIC COMMENT, ANYBODY, ANY CITIZEN WISHING TO SPEAK BEFORE THIS BOARD, UH, CAN COME FORWARD. YOU'LL HAVE THREE MINUTES TO SPEAK. I DON'T SEE ANYBODY HERE. LET'S MOVE ON TO ITEM NUMBER FOUR FOR ONE AGENDA, CONDUCT A CONDUCT, A SECTION FIVE OH FIVE.ONE SEVEN NINE PUBLIC HEARING ON PROJECT ACROPOLIS FOR PURPOSES OF NOTICE OF THE INTENT TO EXPEND FUNDS AND DEVELOPMENT OF AN INCENTIVE AGREEMENT FOR THE PROJECT. DID YOU WANT ME TO? YEAH, THE EXECUTIVE DIRECTOR WANTED ME TO KIND OF PREAMBLE THE BOARD, KNOW WHAT WE'RE DOING. SO, UM, A PROVISION OF THE LOCAL GOVERNMENT CODE, AND I'M JUST GOING TO READ IT. SO YOU UNDERSTAND IT SAYS EXCEPT AS PROVIDED BY SUBSECTION B A TYPE B CORPORATION SHALL HOLD AT LEAST ONE PUBLIC HEARING ON A PROPOSED PROJECT BEFORE SPENDING MONEY TO UNDERTAKE THE PROJECT. AND THEN SUBSECTION B THE EXCEPT SAYS A TYPE B CORPORATION THAT THE CREATION OF WHICH WAS AUTHORIZED BY MUNICIPALITY WITH A POPULATION OF LESS THAN 2000 IS NOT REQUIRED TO HOLD THE PUBLIC HEARING UNDER THIS SECTION. IF THE PROPOSED PROJECT IS DEFINED BY SUBJECT OR C CHAPTER 5 0 1, SINCE YOU ARE NO LONGER. AND THE 20,000 POPULATION IS TRACKED BY THE DECENNIAL CENSUS. AND SINCE, UM, YOU ARE NOW, UH, CONGRATULATIONS, YOU'RE NO LONGER CONSIDERED A SMALL CITY UNDER, UNDER THIS PROVISION, WHICH MEANS YOU HAVE TO HAVE THESE HEARINGS ON YOUR PROJECTS. UH, EVEN IF THEY ARE A CHAPTER 5 0 1 PROJECT. AND SO, UM, THE NEXT PROVISION IN THE LAW, UH, AND THAT'S WHAT THIS WAS, THIS DOES, THIS STARTS THE CLOCK, SO TO SPEAK BECAUSE IT SAYS THEY TYPE B CORPORATION MAY UNDERTAKE A PROJECT UNDER THIS CHAPTER AND LESS, NOT LATER THAN THE 60TH DAY AFTER THE DATE NOTICE OF THIS SPECIFIC PROJECT OR GENERAL TYPE OF PROJECT IS FIRST PUBLISHED. THE GOVERNING BODY OF THE AUTHORIZING MUNICIPALITY RECEIVES A PETITION FROM MORE THAN 10% OF THE REGISTERED VOTERS OF THE MUNICIPALITY REQUESTING THAT AN ELECTION BE HELD BEFORE THIS SPECIFIC PROJECT OR GENERAL TYPE OF PROJECT IS UNDERTAKEN. UM, IN ORDER TO, UH, YOU'RE NOT REQUIRED TO HOLD AN ELECTION AFTER THE SUBMISSION OF PETITION, IF THE VOTERS OF THE MUNICIPALITY HAVE PREVIOUSLY APPROVED THE UNDERTAKING OF THE PROJECT OR SPECIFIC GENERAL TYPE OF PROJECT. AND SO THAT'S, THAT'S WHAT THIS IS. IT'S AN OPPORTUNITY FOR THE PUBLIC TO SAY, WE DON'T WANT THAT. AND IF 10% OF THE PEOPLE THAT VOTED IN THE LAST ELECTION THAT ARE CERTIFIED TO DO THAT, THEN IT GOES TO A VOTE OF THE PEOPLE SO THAT, AND WE CAN'T SPEND MORE THAN $2,000 ON A PARTICULAR PROJECT UNTIL YOU'VE DONE THIS AND THE 60 DAYS EXPIRES. SO WE'VE GOT TO GET THIS GO ON BECAUSE OF THE COUPLE OF PUBLIC HEARINGS WE'RE GOING TO HAVE. THANK YOU. THANKS YOU ORANGE AND BOARD. THERE ARE TWO PROJECTS. I'M JUST GOING TO GIVE YOU KIND OF A THUMBNAIL ON BOTH OF THEM. AND WE'LL SORT OF GET THROUGH THIS, I THINK RELATIVELY QUICKLY, UH, PROJECT D 12 IS A HIGH TECH AUTOMOBILE MANUFACTURER BEFORE WE DO THAT. YES. UH, YEAH, LET ME GO AND OPEN UP FOR TWO. SO OF COURSE WE'LL GO AND OPEN UP FOUR TWO, WHICH IS CONDUCT A SECTION FIVE OH FIVE.ONE FIVE NINE PUBLIC HEARING ON PROJECT D 12, FOR PURPOSES OF NOTICE OF THE INTENT TO EXPEND FUNDS AND DEVELOPMENT OF AN INCENTIVE AGREEMENT FOR THAT PROJECT. I WOULD MAKE NOTE THAT, UH, EVERYTHING THAT OUR, UH, ATTORNEY OF RECORD HAS JUST SAID ABOUT THE ACROPOLIS WOULD STAY IN TRUE FOR D 12, PROBABLY D 12. SO YOU WON'T HAVE TO REPEAT THAT AGAIN. UH, SO BOB AND TAKE AWAY. OKAY. UM, SINCE WE'RE ON D 12, I'LL, I'LL JUST STICK WITH THAT. UM, IT'S A HIGH-TECH AUTOMOBILE MANUFACTURER, UH, CONSIDERING A NATIONAL HEADQUARTERS AND ASSEMBLY FACILITY HERE IN HADOW AND APPROXIMATELY 143 ACRES OF PROPERTY. UH, IT'LL START AN INVESTMENT BEGINNING IN 2022 AT APPROXIMATELY 118 MILLION CONSISTENTLY INCREASING THAT FOR SIX YEARS UNTIL IT'S REACHED A GRAND TOTAL OF 967 MILLION AT THE END OF 2028, THE INVESTMENT WILL CONSIST OF LAND BUILDINGS, FURNISHINGS, MACHINERY, EQUIPMENT, AND TOOLING. UH, THE PROJECTED JOB GROWTH STARTING IN 2022 IS 47 JOBS. AGAIN, THESE ARE NET NEW JOBS NOT RELOCATED. AND BY 2028 WILL RISE TO 814 TOTAL JOBS WE'LL RUN THE FULL GAMUT, OBVIOUSLY FROM ASSEMBLY STAFF TO OPERATIONAL STAFF, TO ADMINISTRATION MANAGEMENT, ENGINEERING, SALES, AND EXECUTIVE SUPPORT, UH, WAGES AND BENEFITS [00:05:01] WILL, UH, WILL VARY SOMEWHAT UNDER NEGOTIATIONS, BUT WE'LL INCLUDE A HUNDRED PERCENT EMPLOYER PAID HEALTH CARE RETIREMENT PLANS FOR ALL FULL-TIME EMPLOYEES. WITH AVERAGE WAGES OF APPROXIMATELY $85,000 PER JOB INCENTIVES ARE BEING NEGOTIATED, WHICH WILL INCLUDE THE CONSTRUCTION OF WATER WASTEWATER ROAD INFRASTRUCTURE TO SUPPORT THE FACILITY, THE POSSIBLE TAX ABATEMENT CREATION OF A TAX INCREMENT REINVESTMENT ZONE AND A SALES TAX SHARING AGREEMENT TO INCLUDE SALES TAX SHARING PERSON WITH THE CHAPTER THREE 80, BETWEEN THE CITY OF HADOW AND THE INCOMING CORPORATION. TOTAL INCENTIVES ARE ESTIMATED TO FALL SOMEWHERE BETWEEN 36 AND $40 MILLION OVER SEVEN YEARS. ANY QUESTIONS FOR BOB UPDATE ON ACROPOLIS? DO YOU HAVE ANY, YES, SIR. YOU HAVE THE PUBLIC HEARING OPEN. SO IF YOU GIVE AN OPPORTUNITY AND THEY CLOSED THAT PUBLIC HEARING, GREAT POINT, THE NEXT ONE, IF THERE'S ANYONE HERE THAT WISHES TO SPEAK ON PROJECT AND THE, UH, INFORMATION HAS BEEN PROVIDED BY OUR EXECUTIVE TEAM. I MEAN THE, UH, EDC DIRECTOR THERE BEING NONE. DO I NEED TO CLOSE IT NOW? AND JUST, OKAY. WHEN I GO IN AND CLOSE A F ITEM FOUR TO THE PUBLIC HEARING ON THE PROJECT, D 12, LET'S GO BACK UP TO PROJECT ACROPOLIS, WHICH IS STILL OPEN AND WE'LL OPEN THE PUBLIC HEARING FOR THAT ONE. WELL, I HAD ALREADY OPENED UP THE FIRST THING THAT OPENED. SO YES, SIR. ON THE ACROPOLIS SIDE, AGAIN, ANOTHER HIGH-TECH MANUFACTURER, I'M THIS ONE ENGAGED IN THE DESIGN AND FABRICATION OF COMPONENTS FOR ELECTRONIC DEVICES, ENABLING COMMUNICATIONS, COMPUTING, HEALTHCARE, MILITARY SYSTEMS, TRANSPORTATION, CLEAN ENERGY, AND OTHER APPLICATIONS. IT INVOLVES ABOUT 450 ACRES OF LAND ON THE MEGA SITE AREA. UH, WE BEGAN, OR THEY BEGAN RATHER THE PROJECT INVESTMENT IN 2022 AT APPROXIMATELY 340 MILLION AND RAMP OVER NINE YEARS TO ABOUT $2 BILLION IN TOTAL INVESTMENT. AGAIN, THIS INVESTMENT CONSISTENT LAND BUILDING FURNISHINGS, TECHNOLOGY, MANUFACTURING EQUIPMENT, ET CETERA. UH, THE JOB GROWTH WILL BRING ABOUT 800 NEW JOBS INTO HOW TO OVER 10 YEARS JOBS WILL RANGE AGAIN FROM THE FULL GAMUT OF OPERATIONS, ROBOTICS, TECHNICIANS, ENGINEERING, HARDWARE, AND SOFTWARE DEVELOPMENT, COMPUTER SCIENCE, COMPUTER OPERATORS, SUPERVISORS, AND PLANT MANAGEMENT, UH, WAGES AND BENEFITS WILL VARY ARE STILL UNDER NEGOTIATION, BUT WE'LL INCLUDE AGAIN, EMPLOYER PAID HEALTH CARE RETIREMENT PLANS FOR ALL FULL-TIME EMPLOYEES, INCENTIVES ARE BEING NEGOTIATED, WHICH WILL INCLUDE THE CONSTRUCTION OF ALL INFRASTRUCTURE, WATER WASTE, WATER ROADS AT THE SITE, UH, VIA A, UH, EDC AND TAX ABATEMENT, POTENTIAL CREATION OF A TERRORS OR TAX INCREMENT REINVESTMENT ZONE AND A SALES TAX SHARING AGREEMENT, UH, BETWEEN, UH, THE EMERGENCY MANAGEMENT GROUP AND THE CLIENT. AND, UM, THAT WILL ALL BE DONE PURSUANT TO CHAPTER THREE 80, BETWEEN THE CITY OF HOW-TO AND THE INCOMING OPERATION. TOTAL INCENTIVES FOR THIS PROJECT ARE ESTIMATED AT $80 MILLION OVER THE 10 YEAR PERIOD OF THE RAMP. AND I WILL TELL YOU, I DON'T THINK I MISSED THIS WHEN I WENT THROUGH THE ORIGINAL WRITEUP, BUT THE JOBS AND SALARY FOR THIS VERY HIGH FOR PROJECT D TWO D 12, RATHER EVEN HIGHER IN A CASE OF ACROPOLIS WHERE ESSENTIALLY YOU'VE GOT PROBABLY AN AVERAGE SALARY OUT THERE IN EXCESS OF A HUNDRED THOUSAND DOLLARS A YEAR. WE NOW ARE, SORRY. THE ONLY OTHER COMMENT FOR BOTH PROJECTS IS THAT THESE ARE OBVIOUSLY GREENFIELD PROJECTS, WHICH MEANS THAT IN ADDITION TO THE INFORMATION I SHARED WITH YOU ABOUT DIRECT JOBS, THERE WILL BE OBVIOUSLY CONSTRUCTION, LOTS OF INDIRECT JOB GROWTH ASSOCIATED WITH THESE TWO BUSINESSES. AND THAT'S NOT INCLUDED IN THE NUMBERS THAT I SHARED WITH YOU EARLIER. I NOW MAKE IT AVAILABLE FOR ANY ONE IN THE PUBLIC THAT WISHES TO SPEAK ON PROJECT ACROPOLIS. THEY CAN COME FORWARD DOWN. WE'LL HAVE THREE MINUTES WHEN NOW CLOSE A PUBLIC HEARING FOR PROJECT ACROPOLIS, UH, JANETTA FOR ONE, AND WE WILL CLOSE THE PUBLIC HEARING FOR, UH, PROJECT , WHICH IS ITEM FOUR, TWO, ANY QUESTIONS FOR BOB OR GEORGE ON THESE TWO ITEMS? ONCE AGAIN, IT WAS 800 NEW JOBS OVER THE NEXT 10 YEARS. YES, SIR. THANK YOU. AND I JUST WANTED TO REMIND THE BOARD THAT THE PROJECTS ARE STILL CONFIDENTIAL. WE'RE IN A NEGOTIATION STAGE. AND SO, UM, THE, UH, GENERAL INFORMATION HERE WAS REQUIRED BY LAW FOR US TO RELEASE, BUT THAT THE INFORMATION STAYS CONFIDENTIAL AT THIS TIME. THANK YOU. THANK YOU, SIR. NO FURTHER QUESTIONS. THANK YOU, BOB. THANKS. YEAH, I DID ALREADY CLOTHED THEM. OKAY. LET'S MOVE ON TO ITEM 43, DISCUSSING CONSIDER A BUDGET AMENDMENT TO THE PROJECT LINE ITEM TO SUPPORT THE MEGASITE DEVELOPMENT PROJECTS. I THINK THIS IS AN ITEM THAT WE'RE, UH, LOOKING [00:10:01] FOR. UH, DID WE GET WITH, UH, I'M SORRY, I'M SORRY. I WORKED WITH ANGIE TO, TO WORK THROUGH WHAT THE FUNDS HAVE BEEN APPROPRIATED AND WHAT HASN'T. AND SO THE ADDITIONAL FUNDS WE AUTHORIZED TO BE EXPENDED, WHICH WILL BE THE LAST MEETING NEED TO BE APPROPRIATED. AND AT THIS POINT, WE JUST WANT TO HAVE A MINUTE ORDER ON THAT. AND THEN WHEN ANY OTHER BUDGET MODIFICATIONS ARE BEING MADE, WE'LL PUT THAT INTO A RESOLUTION FOR, UH, FOR, TO, TO GO THROUGH. OKAY. AND THIS WILL BE BASED ON THE MEETING THAT WE HAD LAST THURSDAY, WHAT WAS DECIDED ON TO GIVE BOB THE OPPORTUNITY TO BE ABLE TO PROCEED FORWARD ON THE OPTIONS AGREEMENT, RIGHT? SO WE'VE SEEN YOUR MOTION ON THAT AND WE'VE ALLOCATED, WE'VE IDENTIFIED THE MONEY AND KNOW THAT IT'S THERE. SO WE JUST NEED TO PROCREATE. THIS WILL JUST BE OUT OF YOUR FUND BALANCE, RIGHT? SO I MAKE A MOTION TO APPROPRIATE THE FUND BALANCE AS PRESENTED BY FINANCE TO ALLOW THE OPTION AGREEMENT TO BE EXECUTED BY BOB AS DISCUSSED LAST THURSDAY. I'LL SECOND THAT MOTION, A MOTION AND A SECOND. ANY DISCUSSION, ROLL CALL PLEASE. BOARD MEMBER, RADIO CLERK, BOARD MEMBER, VICTOR HENRY. I REMEMBER SEAN LUCAS. VICE-CHAIR LONG CARLSON IN CHAIRMAN MIKE AYE. MOTION CARRIES FIVE ZERO ADAM FIVE EXECUTIVE SESSION. WE HAVE NOTHING FOR EXECUTIVE SESSION, SO WE'LL MOVE ON TO A GERMAN. THERE'D BE NO FURTHER BUSINESS. THIS MEETING IS ADJOURNED. THANK YOU. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.