* 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.
          [00:00:01]
          READY 
          [(EDC) Board Meeting/(CDC) Board Meeting]
JOHN IS NOW 6 31. 
          I'LL BRING THE MEETING OF THE WHOLE ECONOMIC DEVELOPMENT CORPORATION. 
          TAP, TAP ME TO ORDER ME A ROLL CALL PLEASE. 
          CHAIRMAN MIKE HARRIS, MENDEZ VICE CHAIRMAN, DON CARLSON, SECRETARY CHENEY, GUMBO TREASURY, SEAN LUCAS, BOARD MEMBER, MIKE SNYDER, BOARD MEMBER BOARD MEMBER RANDALL CLERK, BOARD MEMBER, ERIN CLANCY. 
          YOU HAVE ESTABLISHED A QUORUM PRESENT. 
          LET'S MOVE ON TO ITEM THREE PLEDGE OF ALLEGIANCE. 
           THE REPUBLIC FOR WHICH IT STANDS ONE NATION UNDER GOD. 
           . 
          I'M GOING TO TAKE SOME PERSONAL PRIVILEGE AND JUMPED DOWN TO AGENDA ITEM 701 AND WELCOME TO OUR NEW BOARD MEMBER, AARON CLANCY. 
          UH, I'VE HAD THE PLEASURE OF ACTUALLY VISITING WITH HER A COUPLE OF TIMES. 
          UH, FIRST WHEN WE TALKED TO HER VISIT WITH HER AND THE SECOND TIME, UH, WHEN WE HAD BREAKFAST TOGETHER THIS MORNING. 
          SO, UH, I'VE FOUND HER TO BE VERY, UM, ENLIGHTENING, VERY INQUISITIVE. 
          AND, UH, I THINK THAT SHE'S GOING TO BRING A WORLD OF, UH, OPPORTUNITIES TO THIS BOARD AND JUST THE FACT OF WHAT SHE'S ASKING AND HER PASSION IS PRIMARILY IN PARKS AND RECREATION, KIND OF QUALITY OF LIFE ISSUES. 
          SO I THINK THAT'S GOING TO GO LONG AND WELL FOR THIS BOARD. 
          SO I WANT TO WELCOME YOU ON BOARD AARON, AND I DON'T KNOW IF YOU HAVE ANY WORDS YOU WANT TO SAY, I'LL OPEN IT UP TO YOU. 
          IF NOT, WE CAN MOVE ON. 
          YEAH. 
          I JUST WANT HIM TO SAY THANK YOU FOR THE OPPORTUNITY. 
          I LOOK FORWARD TO SERVING THE BOARD AND THE COMMUNITY AT LARGE. 
          WELCOME. 
          ALSO WANT TO CONGRATULATE MAYOR MIKE SCHNEIDER ON HIS RE-ELECTION AND BOARD MEMBER, RANDALL CLARK ON HIS ELECTION TO THE COUNCIL. 
          YOU HAD SOME FORMIDABLE OPPONENTS AND YOU CAME OUT ON TOP. 
          SO CONGRATULATIONS ON YOUR END AS BEST WEEK. 
          THANKS. 
          LET'S MOVE ON TO ITEM FOUR PUBLIC COMMENT. 
          I'M NOT SURE IF THERE'S ANYONE HERE TO ADDRESS THE BOARD, IF SO, FEEL FREE TO STEP FORWARD, STATE YOUR NAME AND I'LL GIVE YOU THREE MINUTES IN WHICH TO SPEAK. 
          THERE'LL BE AN UNCOMFORT. 
          THIS MOVE ON TO ITEM FIVE, ONE CONDUCT, A PUBLIC HEARING PRESENTATION ON PROJECT E UM, WHO'S GOT THEIR FIRM BOB. 
          AND GO AHEAD. 
          UM, MS. CHAIRMAN, BOARD MEMBERS, UM, WE ARE GOING TO BE CONSIDERING TONIGHT, UH, PROJECT D, WHICH HAS DONE IN CONJUNCTION WITH CITY OF HIGH-DOSE COTTONWOOD DEVELOPMENT CORPORATION, UH, WHERE COTTONWOOD WILL SELL APPROXIMATELY 45 ACRES OF LAND FOR ABOUT $6 AND 10 CENTS PER SQUARE FOOT TO BE SUBDIVIDED ROUGHLY IN HALF USING HALF OF THE TRACK OF FRONTING HIGHWAY 79 TO DEVELOP AN ELEVATED A HIGH-QUALITY BUSINESS RETAIL CENTER WITH ABOUT 60,000 SQUARE FOOT OF GROCERIES. 
          THE ANCHOR BUSINESS SURROUNDED BY ABOUT 25,000 SQUARE FEET OF ADDITIONAL RETAIL AND RESTAURANT ACTIVITY. 
          THIS ROUGHLY 85,000 TOTAL RETAIL CENTER SQUARE FOOT RETAIL CENTER IS ESTIMATED TO BUILD OUT AT ABOUT $28 MILLION OF TAXABLE VALUE ANCHORED BY OF COURSE, THE GROCERY STORE AND WILL CONTAIN, UH, NOT ONLY, UH, RETAIL OPPORTUNITIES, BUT QUALITY ATMOSPHERE WITH ARCHITECTURAL FEATURES THAT WILL PROVIDE AN UPSCALE HILL COUNTRY MODERN FEEL FOR THE CONSUMER, UH, REMAINING 20 ACRES LOCATED BEHIND THE RETAIL CENTERS PROPOSED TO BE MULTIFAMILY AND IS NOT BEING INCENTIVIZED, BUT APPEARS TO BE A LOCATION WITHIN THE CITY WHERE RESIDENTIAL DIVERSITY MAY IMPROVE A PROJECT PERFORMANCE. 
          THE BOARD IS PROPOSING A SALES TAX INCENTIVE FOR EDC, A SALES TAX FOR THE CITY AND THE USE OF A TAX INCREMENT REINVESTMENT ZONE TO REIMBURSE THE CITY, EDC AND DEVELOPER THROUGH THE TAX INCREMENTS, UH, UH, THE SITE FOR ANTICIPATED ROAD, WATER WASTEWATER INFRASTRUCTURE IMPROVEMENTS. 
          THE DEVELOPER WILL MAKE, UH, IN DEVELOPING THE PROPERTY AGAIN, DEVELOPER CAPITAL INVESTMENT IS PROJECTED TO BE 22 MILLION DIRECT JOB GROWTH, AT LEAST 145 WITH AT LEAST ANOTHER 25 OF SPINOFF AND INDIRECT JOBS ADDED, UH, INCENTIVES WILL INCLUDE A SALES TAX SHARING AGREEMENT. 
          WE'RE IN SALES TAX, RECOVERED FROM THE COMMERCIAL ACTIVITIES AND CONSTRUCTION OF THE DEVELOPMENT WILL BE ALLOCATED OVER A 10 YEAR PERIOD PROJECTED TO AMOUNT TO APPROXIMATELY $1.4 MILLION. 
          ANY QUESTIONS? ANY QUESTIONS FOR BOB? THANK YOU, SIR. 
          WE'LL OPEN UP FOR PUBLIC COMMENT AND IF ANYBODY WANTS TO SAY ANYTHING CONCERNING PROJECT E 
          [00:05:01]
OH, I'M SORRY. 
          THE TIME IS 6 36. 
          PUBLIC COMMENT IS OPEN. 
          THERE'LL BE NO ONE COME FORWARD. 
          I'LL CLOSE THE PUBLIC HEARING AT THIS TIME AT 6 36, LET'S MOVE ON TO ITEM FIVE TO CONDUCT A PUBLIC HEARING PRESENTATION ON PROJECT TITAN MEGA LAND DEVELOPERS ABOARD THIS PROJECT, UM, RELATES TO TITAN DEVELOPMENT. 
          AS YOU KNOW, THE AFFIRM ALREADY OPERATING HERE IN TOWN IS PURCHASED ABOUT 140 ACRES OF LAND AT MA AT THE MEGA SITE, JUST ADJACENT TO THE HVDC PROPERTY. 
          UM, THEY PLANT A MASTER PLAN, THOSE 140 ACRES AND DEVELOP A CLASS, A INDUSTRIAL PARK WITH SIMILAR TYPE BUILDINGS AND BUSINESSES TO THE INNOVATION PARK, BUT A LITTLE BIT LARGER TO, TO HANDLE LARGER PROSPECTS WITH HEAVIER UTILITY REQUIREMENTS. 
          THE PARK WILL COMPRISE OF MANUFACTURING AND DISTRIBUTION, BRINGING ADDITIONAL JOB OPPORTUNITIES OBVIOUSLY TO THE COMMUNITY. 
          THEY'RE ANTICIPATING BUILDING SOMEWHERE BETWEEN ONE AND ONE AND A HALF MILLION SQUARE FEET OF INDUSTRIAL FACILITIES ON THE SITE, WHICH WILL YIELD A PRIVATE INVESTMENT AND TAX BASE OF ABOUT 80 TO 120 MILLION AT FULL BUILD-OUT. 
          ANY QUESTIONS FOR BOB TIME IS NOW 6 37. 
          I WILL OPEN UP THE PUBLIC HEARING FOR PUBLIC COMMENT ON THE PROJECT. 
          TITAN MEGA LAND DEVELOPERS BE NO ONE COME FORWARD IS 6 37. 
          I WILL CLOSE THE PUBLIC HEARING MOVE ON TO AGENDA ITEM SIX CONSENT AGENDA BOARD MEMBERS. 
          DO YOU HAVE THE MINUTES BEFORE YOU AND ALSO AN UPDATE ON MONTHLY FINANCIALS? I'M NOT SURE IF THERE'S ANYONE THAT WANTS TO SPEAK ON EITHER ONE OF THOSE, IF NOT EMOTION, BE IN ORDER TO ACCEPT THE CONSENT AGENDA. 
          I MAKE A MOTION TO ACCEPT THE CONSENT AGENDA. 
          A MOTION SECOND IN FURTHER DISCUSSION, ROLL CALL PLEASE. 
          SECRETARY AND GAMBOLA BOARD MEMBER. 
          AARON CLANCY. 
          HI CHAIRMAN MIKE HARRIS, MENDEZ DON CARLSON. 
          VICE-CHAIRMAN I'M SORRY. 
          HE'S NOT HERE AS A BOARD MEMBER. 
          MIKE SNYDER BOARD MEMBER RANDALL CLERK MOTION CARRIES FIVE OAK. 
          NOW MOVE ON TO AGENDA 7.2 DISCUSSING, CONSIDERING AN UPDATE AND TAKE ANY NECESSARY ACTION ON THE CITY'S COMPREHENSIVE LAND USE PLANNING PROCESS AS IT RELATES TO ECONOMIC DEVELOPMENTS IN THE CITY AND RELATED BOARD INVOLVEMENT. 
          UM, THIS IS MY CLICKER WORK. 
          ARE YOU GOING TO CLICK? ALL RIGHT, I'LL WAIT. 
          SO I'M I'M TRIAL START ON TRAVIS. 
          JAMES, I'LL KEEP THIS BRIEF. 
          I'M AN ECONOMIC PUBLIC POLICY CONSULTANT WITH A FIRM CALLED TXP. 
          WE ARE A SUB CONSULTANT TO FREESE AND NICHOLS, FREESE, AND NICHOLS IS THE FIRM THAT WAS RETAINED TO WORK ON THE COMPREHENSIVE PLAN AND THE DOWNTOWN PLAN. 
          AND I'VE MET SOME OF YOU AT VARIOUS, UH, MEETINGS ALONG THE WAY. 
          WE SAT ON THE DOWNTOWN, UH, UH, PRESENTATION IN DECEMBER. 
          AND SO IT'S GOOD TO BE HERE AGAIN. 
          UM, I'M HERE JUST TO SAY, IF ANY OF YOU ALL WOULD LIKE TO, TO PROVIDE ADDITIONAL PUBLIC INPUT TO THE COMPREHENSIVE PLAN OR THE DOWNTOWN PLAN, REACH OUT TO ME OR CHANCE IF YOU KNOW OTHER PEOPLE IN THE COMMUNITY WHO YOU THINK SHOULD PROVIDE ADDITIONAL INPUT, SEND THEM MY WAY. 
          UH, WE'RE TAKING PUBLIC INPUT THROUGH JUNE. 
          SO THAT PROCESS HAS BEEN ONGOING. 
          LET ME SEE IF I, AND I KEEP GOING TO GET TO THAT PRESENTATION. 
          I GOT JUST A COUPLE OF QUICK SLIDES. 
          MY ONE THING IS, UM, WE'RE GOING TO HAVE A SUNSET BLOCK PARTY AT THE END OF THE MONTH. 
          IT'D BE GOOD OPPORTUNITY TO COME OUT THERE AND GET PUBLIC COMMENT FROM THEM. 
          A LOT OF PEOPLE IN THE COMMUNITY, AND THAT WOULD STILL GO BEFORE THE JUNE CLOSE OF THAT PERIOD. 
          SO, UM, WANT TO MAKE SURE WE DON'T MISS THAT OPPORTUNITY. 
          OKAY. 
          I'LL PASS THAT ALONG TO CHANCE AND HIS TEAM ON THAT ON THE, ON THE GENERAL PUBLIC INPUT. 
          THANK YOU. 
          OH, WAIT. 
          I CAN KEEP TALKING. 
          I'M A CONSULTANT. 
          I'LL JUST STAND HERE AND WORK. 
          SO IT'S BEEN A GOOD PROCESS. 
          AND BOB HAD A GOOD POINT WHEN I MET THE NEW BOARD MEMBER, IT'S A COMPREHENSIVE PLAN AND A DOWNTOWN PLAN THAT ARE GOING TO BE INTEGRATED TOGETHER. 
          SO THERE THERE'S TWO SORT OF LAYERS OF PUBLIC INPUT. 
          UM, WELL, HOW DO I GO FORWARD? I GOT, HERE WE GO. 
          WHY THE PLAN ANSWERING THOSE QUESTIONS? WHAT IS HUDDLE WANT TO BE? THERE'S, THERE'S A VISION THERE'S GUIDING PRINCIPLES OR OBJECTIVE STRATEGIES, ACTION ITEMS, ALL THE KINDS OF TYPICAL THINGS YOU WOULD SEE IN A COMPREHENSIVE PLAN OF THIS MAGNITUDE. 
          WE'LL LOOK AT FISCAL SUSTAINABILITY VIBRANCY OF PLACE. 
          CONDUCTIVITY ECONOMIC DEVELOPMENT IS ONE OF THOSE THINGS. 
          WE'RE GOING TO LOOK AT HEALTH OF THE COMMUNITY, UM, WELCOMING AND SAFE. 
          WE'VE DONE YOUR TYPICAL 
          [00:10:01]
STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS. 
          I'M NOT GOING TO STOP AND GO THROUGH THESE. 
          THEY'RE AVAILABLE. 
          A LOT OF THIS HAS COME FROM OUR ANALYSIS, AS WELL AS THE INPUT THAT WE'VE RECEIVED FROM THE COMMUNITY FOR BOTH THE OVERALL COMPREHENSIVE PLAN AND THE DOWNTOWN PLAN. 
          DO YOU GO TO THE CITY'S WEBSITE? YOU CAN FIND A LINK UNDER THE PLANNING DEPARTMENT TO THE DOWNTOWN AND IN COMP PLAN WEBSITE, PEOPLE COULD DO A MAP EXERCISE, AND SOME OTHER THINGS ARE AVAILABLE THERE TO PROVIDE THE TYPE OF INPUT WE'RE LOOKING FOR. 
          THEY CAN TAKE A MAP AND PUT WHERE THEY'D LIKE TO SEE THINGS AS IT RELATES TO BUSINESSES IN USE AND PUBLIC SPACES AND TRANSPORTATION SAFETY, ALL OF THOSE KINDS OF THINGS. 
          SO THAT THAT TOOL IS STILL UP AND AVAILABLE. 
          YOU CAN ACCESS IT THROUGH THE CITY'S WEBSITE. 
          THIS IS THE UPCOMING EVENTS, UM, OF, UH, THERE'S A SEA PACK, WHICH IS THE COMPREHENSIVE PLAN ADVISORY COMMITTEE MEETINGS. 
          THERE'S A DOWNTOWN ADVISOR COMMITTEE. 
          SO LOTS OF TRANSPARENCY, LOTS OF PUBLIC INPUT. 
          YOU SEE ON THE FAR RIGHT, WHAT I'M WORKING TOWARDS AS A SUB CONSULTANT, AGAIN, TO FREESE AND NICHOLS, TRYING TO WRAP THINGS UP IN THE FALL FOR BOTH PLANS. 
          SO WITH THAT, I'LL STOP. 
          IF YOU KNOW ANYONE OR YOU WANT TO PROVIDE INPUT DIRECTLY TO US, OR JUST TALK TO US TO SEE WHAT'S GOING ON, MAYBE REACH OUT TO BOB. 
          BOB WILL CONNECT YOU WITH A CHANCE FOR ME, IF YOU THINK THERE'S ANY BUSINESS LEADERS OR FOLKS IN THE COMMUNITY THAT HAVEN'T BEEN HEARD, IF THE WEBSITE'S NOT SUFFICIENT, THEY CAN REACH OUT AND TALK TO US DIRECTLY. 
          YOU HAVE A QUESTION, UH, IF HE CAN GO BACK TO WHERE YOU DROPPING THE PENS IN THIS MAP IN HERE, WE'RE GOING AS FAR OUT AS, OKAY. 
          SO THE MEGA SITE IS INCLUDED IN THAT THAT'S THE CITY LIMITS AND THE ETJ. 
          WE LOOK AT BOTH AS PART OF THAT COMP PLANNING PROCESS. 
          OKAY. 
          SO DOES THIS MAP THAT WE'RE PUTTING OUT THERE TAKING INTO ACCOUNT THE SOUTHEAST LIVE THAT'S BEING PROPOSED IN ORDER TO BE ABLE TO ACCOMMODATE COMMERCIAL ANYTHING THEY'RE LOOKING AT ALONG THAT LOOP AREA, AND THAT MAP SHOWS IT, BUT PEOPLE ARE ABLE TO DROP COMMENTS AND DROP A PIN AND REFERENCE THAT PROJECT FOR WHAT THEY'D LIKE TO SEE ALONG THAT. 
          BUT LET ME FOLLOW UP WITH CHANCE ON THAT. 
          I DON'T WANT TO TELL YOU AN ANSWER THAT I DON'T KNOW. 
          WELL, AND I WAS JUST WONDERING, BECAUSE WITHOUT THE, THE PROPOSED LOOP THERE IT'D BE DIFFICULT. 
          PEOPLE KNOW EXACTLY WHAT IS BEING PROPOSED THERE IN ORDER TO BE ABLE TO SAY, BECAUSE IF THEY'RE NOT FAMILIAR KNOWING THAT THE LOOP IS GOING TO BE THERE, THEY MAY SAY, WELL, YOU KNOW, I THINK WE NEED A, A, UM, YOU KNOW, A RESIDENTIAL OR A PARK NOT KNOWING RIGHT THROUGH THAT. 
          LET ME FOLLOW UP WITH HIM ON THAT AND MAKE SURE I KNOW WE'RE TALKING ABOUT TRANSPORTATION IN GENERAL AND THOSE TYPES OF ITEMS HAVE COME UP. 
          I DON'T KNOW IF THEY'RE ON THAT MAP. 
          OKAY. 
          IT GOES RIGHT BY OUR MEGA SITE TOO. 
          SO THAT MAKES A BIG DIFFERENCE IN KIND OF THE WHOLE SETUP THAT WE'RE LOOKING AT AND TRYING TO SEE HOW WE'RE GOING TO DISS OUT HOW THAT MASTER COMP PLAN AND IT'S GOING TO AFFECT THE LAND USE OF EACH ONE OF THAT. 
          THAT'S A GOOD POINT. 
          I'LL FOLLOW UP WITH HIM THIS EVENING. 
          ANYTHING ELSE I KNOW Y'ALL BEEN AROUND AND BEEN INVOLVED AND KIND OF KNOW WHAT WE'RE DOING. 
          SO WE'RE GOING TO BE HERE FOR THE NEXT COUPLE OF MONTHS. 
          SO YOU'LL, YOU'LL SEE MORE OF US FOR BETTER OR WORSE UNTIL, UNTIL WE GET THIS DONE. 
          SO THANK YOU FOR LETTING ME TAKE A LITTLE BIT OF YOUR TIME TONIGHT. 
          I JUST GOT A QUICK QUESTION FOR YOU OR SO I DO AGREE WITH THE CHAIRMAN. 
          I THINK ONE OF THE ISSUES THAT I SEE IN HOW TO IS THAT SO MANY PEOPLE MOVE IN HERE SO REGULARLY THAT EVERYBODY WHO WAS HERE THREE YEARS AGO KNOWS ABOUT THE LOOP. 
          EVERYBODY WHO MOVED IN LAST SIX MONTHS, THEY DON'T EVEN KNOW IT'S COMING. 
          UM, MY QUESTION IS, SO YOU SAID IF WE HAVE QUESTIONS OR PUBLIC OR BUSINESS LEADERS TO REACH OUT TO YOU, BUT IS THERE, I KNOW THERE WAS A LINK ONCE UPON A TIME, BUT WHEN YOU SAY REACH OUT TO YOU, WHAT INFORMATION CAN WE GIVE TO PEOPLE THAT ALL OF A SUDDEN FLOODS YOUR, EITHER YOUR INBOX, YOUR CLINIC? SURE. 
          WE'LL SEND THEM TO THE CITY'S WEBSITE, UNDER PLANNING SERVICES. 
          THERE'S A PUBLIC INPUT FOR BOTH THE COMP PLAN AND THE DOWNTOWN PLAN. 
          THAT'S THE BEST PLACE TO SEND THEM IF THEY WANT TO TALK SPECIFIC ECONOMIC DEVELOPMENT, WHICH IS MAYBE MORE DETAILED THAN, THAN JUST THESE MAPS, THEY CAN CONTACT ME. 
          WE'VE HAD SOME SMALL BUSINESS MEETINGS MEETINGS WITH DIFFERENT DEVELOPERS IN THE COMMUNITY. 
          SO MY REQUEST TO YOU ALL TONIGHT IS, IS THE GENERAL PLAN AND THE DOWNTOWN PLAN. 
          BUT AS, ESPECIALLY AS IT RELATES TO ECONOMIC DEVELOPMENT, IF YOU THINK THERE'S SOMETHING WE'VE MISSED, OR MAYBE A THOUGHT YOU HAVEN'T TOLD US OR SOMEONE IN THE COMMUNITY, YOU WANT TO MAKE SURE THAT WE'VE TALKED TO SEND THAT TO BOB GENERAL INPUT, SEND THEM TO THE WEBSITE, WHICH THEY CAN GET THROUGH DEVELOPMENT SERVICES AND THEY CAN PROVIDE INPUT THAT WAY. 
          ALRIGHT. 
          AND SO, SINCE SOME OF YOUR STUFF IS FOR DOWNTOWN, UM, AND WHEN BUSINESSES ARE LOOKING AT COMING TO DOWNTOWN AND WE'RE TRYING TO BUILD A DOWNTOWN, ARE YOU ABLE TO TELL US SOME, LIKE SOME BUSINESSES YOU SEE THAT HELP DOWNTOWNS GROW IN SOME BUSINESSES YOU HELP YOU SEE THAT COME IN THAT KINDA MAYBE DON'T HELP IT WHERE I'M COMING WITH THIS AD IS I ALWAYS THINK OF RESTAURANTS AND BAR KIND OF NIGHTLIFE HELPS DOWNTOWN, UM, MEDICAL USE OR THINGS LIKE THAT SEEMED TO, FOR ME AT THE 20 YEAR OLD GENERATION, DOESN'T SEEM LIKE THEY GET EXCITED BY THAT. 
          THEY'RE MORE INTO, HEY, WHAT'S THE NEXT EATING SPOT OR 
          [00:15:01]
YOU'RE RIGHT. 
          AND IF BOB HADN'T TOLD ME TO NOT HAVE SO MANY SLIDES, I WOULD HAVE HAD SOME OF THOSE DOWNTOWN COMMENTS. 
          SO YOU'LL SEE IN THE PUBLIC INPUT, YES, WE'LL HAVE RECOMMENDATIONS FOR WHAT WE THINK MAKES SENSE. 
          YOU'LL ALSO SEE WHERE THE COMMUNITY HAS TOLD US WHAT THEY WANT TO SEE IN DOWNTOWN. 
          SO OUR RECOMMENDATIONS WE'LL TAKE INTO THE COUNCIL, THE BEST PRACTICES, WHAT WE THINK MAKES SENSE FOR DOWNTOWN AND WHAT ALIGNS WITH THE COMMUNITY, WHAT WE'RE HEARING FROM THEM, IT'S REALLY TO GIVE US NOW BECAUSE WE HAVE SOME THINGS COMING UP TO THE COUNCIL HERE THIS MONTH TO WHERE I KIND OF HEARD THEM. 
          AND I SAID IN MY MIND THAT DOESN'T SEEM LIKE SOMETHING THAT GROWS IT DOWNTOWN, BUT THEN I DON'T KNOW. 
          CAUSE I WE'RE WAITING. 
          I GUESS WE'RE GETTING READY TO MAKE CHANGES WITHOUT KNOWING SOME OF THE DATA THAT YOU HAVE. 
          LET ME DO THIS, LET ME GET WITH CHANCE ON THE WAY HOME. 
          THERE'S A DETAILED PRESENTATION HE GAVE AT THE LAST SEAT PACK THAT HAS SOME OF THAT FEEDBACK. 
          WHAT IF I SEND THAT TO BOB AND THEN BOB CAN SEND THAT OUT TO THIS GROUP. 
          WOULD THAT BE RIGHT? WOULD THAT BE APPROPRIATE? IT WORKS. 
          UM, YOU KNOW, IT'S, IT'S IT'S AND I WAS LOOKING AT IT. 
          PEOPLE WANT RESTAURANTS, PEOPLE WANT TO ENTERTAIN THEM. 
          PEOPLE WANT THE BUSINESSES TO STAY OPEN LATER. 
          LAST TIME I WAS HERE WHEN WE TALKED, PARKING IS ALWAYS AN ISSUE. 
          SO IT'S A LOT OF WHAT YOU PROBABLY KNOW. 
          THEY WANT MORE OF ENTERTAINMENT, UNIQUE RETAIL, UNIQUE RESTAURANTS WANT THEM TO STAY OPEN LATER AND LONGER SO PEOPLE CAN TAKE ADVANTAGE OF THOSE AND PROBABLY AT THE APPROPRIATE SCALE FOR DOWNTOWN AS WELL. 
          SO THOSE ARE THE KINDS OF THINGS AND YOU'RE RIGHT. 
          SOME OF THOSE AREN'T GOING TO BE SALES, TAX GENERATORS, IF YOU PUT MEDICAL OR SOMETHING. 
          UM, AND THOSE ARE THE, THE, THE MORE CHALLENGING PROJECTS, BUT I WILL SEND OVER THAT INFORMATION OR HAVE CHANCE TO DO IT SO YOU CAN SEE THE INPUT WE'VE GOTTEN FROM THE PUBLIC. 
          OKAY. 
          THANKS. 
          ANY ADDITIONAL QUESTIONS? COMMENTS. 
          THANK YOU, SIR. 
          OKAY. 
          SO WE'VE GOT, JUST TO BE CLEAR AT THE SUNSET BLOCK PARTY, I GOT TO MAKE SURE WE TAKE CARE OF THE LOOP AND GET YOU WHAT INFORMATION WE HAVE ON THE KINDS OF THINGS FOLKS WANT TO SEE IN THE DOWNTOWN AREA. 
          THAT'S IT AND THINGS YOU SEE THAT AREN'T GOOD FOR W AND WHAT ISN'T GOOD FOR. 
          LIKE, IF YOU WANT A THRIVING DOWNTOWN, WHAT WOULD START TO KILL THAT? WHAT WOULD YOU PUT IN THERE THAT YOU'D SAY THAT THAT'S A BAD IDEA. 
          GOT IT. 
          YOU WILL GET THAT IN THE NEXT DAY OR TWO. 
          ALRIGHT, THANKS, SIR. 
          MOVE ON. 
          AGENDA ITEM 7.3, DISCUSSING, CONSIDERING UPDATE BY THE CHAIR ON THE CITY. 
          COUNCIL'S FEEDBACK TO THE ECONOMIC DERAILMENT POSITION TRANSITION IN ADDITION OF A SECOND HVDC EMPLOYEE POSITION, UH, PROPOSED BY THE BOARD. 
          UM, AND I'M NOT SURE EXACTLY WHAT MEETING IT WAS NOW. 
          IT WAS IN THE FIRST MEETING IN APRIL, I BELIEVE, I BELIEVE THAT'S RIGHT. 
          UH, I, UM, PRESENTED BEFORE THE CITY COUNCIL, THE, UM, TRANSITION OF MOVING THE EDC DIRECTOR BACK UNDER THE EDC CORPORATION. 
          SO WE HAD A LONG AND DRAWN OUT CONVERSATION THAT PROBABLY TOOK ABOUT AN HOUR AND 15 MINUTES. 
          UH, DON'T EVEN HAVE SOMETHING LIKE THAT. 
          UH, IT WAS A VERY, UH, GOOD SPIRITED DEBATE, WHICH I ENJOYED. 
          UH, WE, UH, GOT A, UH, A LOT OF GOOD CONVERSATION OUT THERE ABOUT WHAT WE'RE LOOKING AT, UH, BRINGING IN BAALBEK UNDER THE EDC CUT TO THE, TO THE FINAL CHAPTER. 
          UH, IT WAS DECIDED BY THE COUNCIL TO NOT MAKE THE MOVE AT THIS TIME. 
          LET'S WAIT AND TRY TO GET TO THE BUDGET AND BEGIN TO START LOOKING AT A TRANSITION IN THAT ONCE WE FINALLY GET EVERYTHING DONE, ALLOW ISAAC THE OPPORTUNITY TO REALLY BEGIN TO START FORMULATING AND SOLIDIFIED IN HIS TEAM, UH, EXECUTIVE TEAM, WHICH I BELIEVE HE'S DOING THAT. 
          I WILL TELL YOU THAT I'VE BEEN IN CONVERSATION WITH ISAAC SINCE TALKING ABOUT, UH, THE POSITION ITSELF, WHICH IS THE SECOND ONE WE TALKED ABOUT. 
          I THINK THAT ONE OF THE THINGS THAT WE TALKED ABOUT WAS AN EDC SPECIALIST POSITION COMING OVER. 
          UM, AND I THINK THAT THE CONVERSATION MOVED INTO MORE OF A EDC MANAGER OR COORDINATOR POSITION THAT WOULD TAKE A LOT MORE RESPONSIBILITY AS OPPOSED TO JUST A SPECIALIST POSITION, WHICH OF COURSE IS GOING TO COST THE EDC BOARD MORE FUNDING TO BE ABLE TO FUND THAT POSITION INTO THE CITY. 
          UH, WE'RE LOOKING AT THAT POSITION WOULD BE UNDER BOB, BUT ALSO UNDER THE CITY. 
          AND THEN AT ONE POINT IN TIME, WE'LL MAKE A TRANSITION TO MOVING, UM, THE EDC DIRECTOR, PLUS THAT COORDINATOR POSITION BACK UNDER THE EDC BOARD, UH, AFTER, FROM MY UNDERSTANDING IT WOULD BE AFTER THE, THE FISCAL YEAR, WHICH WOULD BE IN OCTOBER. 
          I DON'T KNOW IF IT WILL GO IN CONJUNCTION WITH IT, BUT IT'S SOMEWHERE IN THAT TIMEFRAME. 
          JUST KIND OF GIVE EVERYBODY KIND OF A, A GENERAL GUIDELINE THERE. 
          UM, SO WE'VE HAD THAT CONVERSATION. 
          I THINK THE ONLY THING THAT I'M LOOKING AT COMING BACK TO THE BOARD HERE IS THAT WE'RE NOW LOOKING AT AN EDC. 
          I THINK WE'RE CALLING IT EDC COORDINATOR, IS THAT CORRECT? CORRECT. 
          AS OPPOSED TO AN EDC SPECIALIST, WHICH WOULD BE A HIGHER FUNDING POSITION, UH, AND MOVING FORWARD IN THAT, THAT'S ONE OF THE CONVERSATIONS THAT I'VE HAD WITH ISAAC. 
          WE'RE LOOKING AT ACTUALLY HIRING A FIRM TO DO THAT SEARCH AND NOT HAVE IT DONE INTERNALLY WITH THE HR DEPARTMENT. 
          NOT BECAUSE THEY'RE NOT CAPABLE, BUT SIMILAR BECAUSE THEY ARE OVERLOADED THEMSELVES. 
          AND THIS GIVES US THE OPPORTUNITY TO BE ABLE TO FIND SOMEBODY RATHER QUICKLY, UH, IT'S, IT'S BEING USED AS AN OPPORTUNITY TO BRING SOMEBODY IN 
          [00:20:01]
AND DO SOME SUCCESSION PLANNING, UH, AND YOU KNOW, FOR BOB TO BE ABLE TO STAY HERE 3, 4, 5 YEARS, WHATEVER HIS TIMEFRAME IS. 
          AND THEN AT THAT POINT IN TIME, WE'D HAVE SOMEBODY ELSE THAT COULD PROBABLY JUST MOVE INTO THAT ROLE, KNOWING THAT THEY WOULD TAKE OVER AS A DIRECTOR, IF WE HANG ONTO THEM LONG ENOUGH, UH, TO DO THAT, THERE'S A LOT GOING ON. 
          BOB'S GETTING OVERLOADED. 
          I THINK EVERY SINGLE COUNCIL MEMBER KNEW THAT BOB WAS GETTING OVERRUN AND THAT HE NEEDED SOME HELP. 
          AND SO THEY ALL AGREED WITH THAT. 
          THEY DIDN'T AGREE WITH THE ASSESSMENT THAT I WANT HIM OVER NOW. 
          SO FOR THAT, I FAULT THE COUNCIL, BUT THAT'S JUST MY OWN OPINION. 
          UH, BUT, UH, BUT WE DID MAKE SOME GREAT PROGRESS IN THAT. 
          SO I DO WANT TO THANK THE COUNCIL FOR ENGAGING THAT CONVERSATION WITH ME. 
          UH, AND, AND THE BOARD HAD ALSO ENGAGED IN THAT CONVERSATION, UH, WITH ISAAC, ISAAC HAS BEEN STELLAR IN THIS. 
          I DID TELL THEM THAT IF THEY COULD GUARANTEE THAT WE COULD KEEP ISAAC FOREVER, THEN I DON'T MIND KEEPING BABA OVER THERE, BUT THEY COULDN'T MAKE THAT GUARANTEE TO ME. 
          SO MY HATS OFF IT GOES TO ISAAC FOR THE WORK THAT HE'S DONE AND WORKING WITH THE EDC. 
          SO I DO WANT TO THANK YOU FOR THAT. 
          UM, SO THAT IS WHERE WE'RE AT RIGHT NOW. 
          UH, WHAT AN ANSWERING ANY QUESTIONS THAT YOU MIGHT HAVE CONCERNING THE CONVERSATION THAT WE HAD, UH, WITH THE COUNCIL AND, UH, I THINK ISAAC HAS GOT SOMETHING HE WOULD LIKE TO SAY, GOOD EVENING. 
          MY NAME IS ISAAC TURNER. 
          I HAVE IMPROVED SERVING AS YOUR CITY MANAGER, INTERIM CITY MANAGER. 
          UH, FIRST OF ALL, I WANT TO COMMENT YOUR CHAIR FOR BEING JUST FORTHRIGHT AND OPEN. 
          WE HAD A DISCUSSION PROBABLY A COUPLE OF MONTHS BEFORE OR A MONTH, MAYBE BEFORE HE SPOKE WITH YOU. 
          UH, I TOLD HIM EXACTLY THE SAME THINGS THAT I SAID IN FRONT OF COUNCIL. 
          HE TOLD ME EXACTLY THE SAME THINGS, AND I RESPECT THAT TREMENDOUSLY. 
          SOMEONE WHO WILL, UH, BE STRAIGHTFORWARD WITH YOU AND WILL KEEP THEIR WORD ABOUT WHAT THEY SAID. 
          THE SECOND THING I WANT YOU TO KNOW THAT, UH, IN LOOKING AT THE POSITION AND WHAT THE POSITION NEEDS TO DO, WE FIRST STARTED WITH, UH, BOB, BECAUSE BOB IS THE PERSON THAT'S IN A POSITION. 
          HE KNOWS WHAT IT TAKES TO EXPAND HIS BANDWIDTH, AND HE KNOWS WHAT HE NEEDS. 
          UH, WE DID KEEP IN MIND THE, A SUCCESSION PLAN, WHICH IS A NICER WAY THAN COUNCILS. 
          PREVIOUS COUNCILS HAVE TALKED TO ME ABOUT ISAAC, WHAT HAPPENS IF YOU GET HIT BY A BUS, BUT THE SUCCESSION PLANNING, UH, AND DISCUSS THAT VERY WELL. 
          AND, AND BOB'S, UM, I'M GOING TO LOOK SO THAT YOU HAVE AN OPTION, NOT THAT YOU'D NECESSARILY HAVE TO NAME THIS PERSON, UH, IN HIS POSITION, BUT IF, IF SOMETHING HAPPENS AND HE HAS A, HAS AN EXTENDED ABSENCE, YOU HAVE SOMEONE WHO CAN STEP RIGHT IN AND YOU WON'T MISS A BEAT, WHICH IS CRITICALLY IMPORTANT. 
          UH, SO WE'RE LOOKING AT THAT ALSO, PLEASE KNOW THAT IN THE WAY THAT, UH, WE HOPE TO CONDUCT THIS, THIS BOARD WILL HAVE A LOT OF INPUT ABOUT THE QUALITY SKILLS AND CHARACTERISTICS THAT THEY WOULD LIKE TO HAVE IN THAT POSITION, AS WELL AS SOME OTHER KEY STAFF MEMBERS THAT WORK WITH THAT POSITION. 
          UH, I WANT YOU TO KNOW THAT WE ARE WORKING HAND IN GLOVE WITH THIS BOARD. 
          UH, UH, AND I THINK EVERYONE THAT'S WORKED CLOSELY WITH ME OR WITH BOB CAN ATTEST TO THAT, AND HE WILL ATTEST TO THAT. 
          WE WANT TO MAKE SURE THAT YOUR NEEDS ARE MET AND THIS COMMUNITY IS SERVED VERY WELL. 
          THANK YOU, SIR. 
          THANK YOU, SIR. 
          ANY QUESTIONS FOR CITY MANAGER? I'M SORRY. 
          SO MY ONLY QUESTION IS SO BECAUSE IT'S STILL UNDER THE CITY AND YOU'RE THE ONE DOING THE HIRING. 
          EVEN IF WE GO WITH AN INDEPENDENT FIRM, HOW MUCH AUTONOMY DO WE HAVE ON THE PERSON WE IDENTIFY? BECAUSE, YOU KNOW, CAUSE REALLY, I MEAN, IF THEY WERE UNDER THE EDC, IT WOULD BE, WE GO TO THAT FIRM, WE DECIDED AS A BOARD, WE HIRED THAT PERSON. 
          BUT NOW THE REALITY IS IT'S UNDER THE CITY. 
          YOU'RE THE HIRING AUTHORITY FOR THAT IS MY UNDERSTANDING. 
          AND WE'RE GONNA GO WITH A SEARCH FIRM TO FIND THAT PERSON, BUT THEN DO WE, ARE WE GOING TO INTERVIEW THAT CANDIDATE? AND THEN WE'RE GOING TO DO FINAL SALES OF, OF A LOOKOUT AND THEN IT COMES BACK TO YOU AND THEN YOU'RE JUST RUBBER STAMPING OR WHAT WHAT'S THAT PROCESS, I GUESS IS MY QUESTION. 
          LET ME, LET ME SHARE WITH YOU MY TYPICAL HIRING PROCESS, IF I WOULD, AND I'LL USE, FOR EXAMPLE, THE HIRING OF THE POLICE CHIEF, UM, WHEN THE POLICE CHIEF WAS HIRED, THERE ARE A MYRIAD OF LEVELS THAT WERE DONE. 
          SO FOR EXAMPLE, THE HEAD HUNTER WENT OUT, UH, SOLICIT APPLICATIONS, UH, THE HEAD HUNTER PUT THEM THROUGH SOME EXERCISES, WRITTEN EXERCISES ABOUT THEIR EXPERIENCE AND, AND ABOUT SPECIFIC SCENARIOS AND DETAILS THAT KIND OF CUT OFF SOME WHERE THE HEAD HUNTER MADE THAT CHOICE. 
          ONCE WE GOT THEM AS A CITY, THERE WAS A TEAM THAT LOOKED AT THE CANDIDATES AND NARROWED IT DOWN TO ABOUT 12 TO 15, UH, AND WHICH WAS ABOUT A TEAM OF ABOUT FIVE PEOPLE. 
          UH, THEY WERE CITY STAFF, BUT IT WAS A TEAM ABOUT FIVE PEOPLE. 
          WHEN THE INTERVIEWS ACTUALLY OCCURRED, THERE WERE TWO PANELS, UM, THAT INTERVIEWED THE POLICE CHIEF CANDIDATES. 
          SO EACH CANDIDATE INTERVIEWED WITH TWO PANELS, THE PANELS, UH, AFTER THEY GOT FINISHED, I ASKED THEM NOT TO RATE RANK OR OTHERWISE SCORE THE INDIVIDUALS, BUT TO PROVIDE ME INPUT WITH EACH GROUP AND CERTAIN PEOPLE ROSE TO THE TOP TO ONE OR TWO, BOTH OF THE PANELS ABSOLUTELY AGREED WITH THAT. 
          NOW I WILL SAY THE PANELS DIDN'T MAKE THE ULTIMATE DECISION BECAUSE THERE WERE OTHER PHASES OF THE INTERVIEW, BACKGROUND CHECKS, CREDIT CHECKS, UM, SOME OTHER THINGS THAT WE LOOKED AT. 
          SO SOME OF THOSE THINGS 
          [00:25:01]
IMPACTED SOME OF THE OTHER CANDIDATES, BUT I WILL SAY THAT THE NUMBER ONE RANKED CANDIDATE BY BOTH OF THE PANELS WAS A PERSON THAT WE ENDED UP HIRING. 
          SO I THINK BOTH MR. HARRIS MENDEZ AND MYSELF WILL AGREE THAT THERE ARE MULTIPLE WAYS TO ADMINISTER THE EDC DIRECTOR AND WORK WITH THE EDC DIRECTOR AND MORE IMPORTANT THAN A STRUCTURE OR THE PEOPLE THAT ARE INVOLVED. 
          UH, I THINK HE HAS A WAY THAT HE'S USED TO, I'M FLEXIBLE. 
          I CAN DO IT EITHER WAY. 
          I JUST WANT TO MAKE SURE THAT WE DON'T DISRUPT WHAT YOU'VE GOT GOING, THAT'S GOING EXTREMELY WELL, AND THAT WE'RE ABLE TO BUILD THIS TEAM AND LEAVE IT A LOT STRONGER THAN IT WAS WHEN I FIRST GOT HERE AT THE BOAT, THE, UH, UH, THE, UH, STAFF TEAM, AS WELL AS THE COUNCIL TEAM. 
          UM, SO THE BOARD WILL HAVE INPUT IN IT, A LOT OF INPUT IN IT. 
          UM, AND SOMEONE WILL HAVE TO MAKE THE FINAL DECISION. 
          ABSOLUTELY. 
          AND, AND, UH, BUT I'VE DONE IT IN THE MOST COLLABORATIVE FASHION, NOT JUST WITH THE POLICE CHIEF, BUT WITH OTHER POSITIONS THAT I'VE HAD THE PRIVILEGE OF, OF WORKING WITH. 
          BECAUSE EVEN WHEN I WAS QUOTE THE PERMIT MANAGER OF INSTITUTIONS OR COMMUNITIES, WHICH THERE'S NO SUCH THING, UM, IT WAS VERY BENEFICIAL TO MAKE SURE THERE WAS COMMUNITY BUY-IN OR STAKEHOLDER BUY-IN TO THE POSITIONS. 
          AND IN ORDER TO ACHIEVE THAT, YOU HAD TO HAVE SOME OF THOSE FOLKS THAT WERE INVOLVED WITH THAT AS PART OF THAT PROCESS. 
          I HOPE THAT ANSWERS YOUR QUESTION, SIR. 
          I THINK THE OTHER THING ALSO IS THAT IN THE PROCESS THAT WE DID TO HIRE BOB, OF COURSE, BEING UNDER THE CITY MANAGER AT THAT POINT IN TIME, UH, THE CITY MANAGER AT THAT TIME, WARREN HUTMARKER DID BRING THREE BOARD MEMBERS INTO THE CONVERSATION, THE INTERVIEW PROCESS. 
          SO WE INTERVIEWED EVERY SINGLE INDIVIDUAL AS DID HE, AND THEN WE GOT TOGETHER AND COLLABORATE THAT AND HE ASKED FOR OUR INPUT. 
          AND SO WE PROVIDED IT TO HIM. 
          AND THE INPUT THAT WE GAVE HIM WAS BOB WAS THE NUMBER ONE PICK. 
          AND HE ENDED UP SAYING, YOU'RE RIGHT, THAT'S WHO I'M GOING TO HIRE. 
          I THINK THE UNFORTUNATE PART THAT WE HAVE IN THIS ONE HERE IS THAT EVEN THOUGH THEIR INPUT MAY BE RECEIVED FROM BOARD MEMBERS, THIS PERSON IS STILL GOING TO ANSWER DIRECTLY TO BOB. 
          SO PRETTY MUCH BOB IS GOING TO BE HIRING THIS PERSON. 
          AND SO, I MEAN, WORKING WITH, YOU KNOW, THE, UH, WITH OUR CITY MANAGER AND IF HE CHOOSES TO HAVE SOME OF US ON THERE, THAT'S GREAT, BUT THIS PERSON IS GOING TO BE WORKING WITH BOB ANSWERING TO BOB. 
          SO I THINK WE CAN FIND COMFORT IN KNOWING THAT BOB'S CAN PRETTY MUCH SELECT THE PERSON THAT HE KNOWS HE CAN WORK WITH. 
          ALL RIGHT. 
          WORKS FOR ME, SIR. 
          I HAVE A QUESTION. 
          UM, SO ARE WE WAITING TO HIRE A COORDINATOR, UM, TILL THE END OF THE FISCAL YEAR, OR ARE WE LOOKING TO HIRE A COORDINATOR AS SOON AS POSSIBLE THE LADDER AS SOON AS POSSIBLE, BUT HAVING SAID THAT, UM, AND, AND I'VE NOT GONE OVER A SCHEDULE AND BOB'S WORKING ON THAT, BUT TYPICALLY SPEAKING, IT'LL TAKE FOUR TO SIX MONTHS TO HIRE SOMEONE AT THIS LEVEL. 
          UH, THIS IS A PRETTY SPECIALIST POSITION. 
          YOU WANT SOMEONE WHO HAS SOME EXPERIENCE IN ECONOMIC DEVELOPMENT AND PROBABLY TO BE CERTIFIED. 
          SO THAT'S GOING TO BE A LITTLE BIT MORE CHALLENGING. 
          THAT IS PART OF THE REASON OF GOING WITH A SEARCH FIRM THAT SPECIALIZES IN THIS PARTICULAR NICHE. 
          SO, UM, IF SOMEONE WERE TO BE HIRED IN THE NEXT, UH, FOUR MONTHS, YOU WERE EXTREMELY BLESSED AND EXTREMELY, UH, QUICK IN THE PROCESS. 
          IT'LL TAKE ROUGHLY ABOUT FOUR TO SIX MONTHS OVERALL TO GET THAT TAKEN CARE OF, BUT WE'RE MOVING AS EXPEDITIOUSLY AS POSSIBLE. 
          OKAY. 
          AND WE'RE HOPING THAT BY THAT TIME, THAT PERSON COULD POTENTIALLY START DURING THAT TRANSITION PERIOD. 
          OKAY. 
          ABSOLUTELY. 
          ABSOLUTELY. 
          WE'RE NOT WAITING FOR ANY TIME PERIOD. 
          WE WANT TO GET SOMEONE TO ASSIST BOB AS QUICKLY AS POSSIBLE. 
          THE MARKET IS HOT NOW, AND YOU WANT TO STRIKE WHILE THAT MARKET IS VERY HOT, UM, PUDDLE ONCE NOT ONLY THE INDUSTRIAL DEVELOPMENT, BUT COMMERCIAL DEVELOPMENT, YOU ALSO HAVE THE RETENTION OF EXISTING BUSINESSES THAT PROBABLY MEET. 
          WE AGREE THAT PROBABLY NEED A LITTLE BIT MORE ATTENTION. 
          THIS WILL EXPAND, UH, BOB'S ABILITY TO PROVIDE SOME ATTENTION TO THAT. 
          ANY FURTHER QUESTIONS. 
          UH, I WOULD JUST, I LIKED THE PROCESS. 
          YOU BROUGHT THE POLICE CHIEF THE WAY WE DID THE POLICE CHIEF. 
          I MEAN, WE ALSO HAD, UM, I DON'T KNOW WHAT THEIR POSITION WAS WITH THE POLICE OFFICER'S ASSOCIATION, BUT THEY WERE ON THERE ALONG WITH STAFF, ALONG WITH OUR PREVIOUS OR AT THE TIME, THE CURRENT, UH, POLICE CHIEF. 
          AND SO ALL THE INPUT WAS COMING IN TO WHERE I THINK WHEN YOU, WHEN YOU DO ALL THAT, YOU'RE GETTING A DECISION THAT, UM, ALONG WITH THE SEARCH FIRM AND THEIR EXPERIENCE, YOU'RE GETTING DECISIONS THAT SO FAR FOR THE CITY SEEM TO BE WE'RE HIRING. 
          YOU KNOW, WHEN I WAS ON THE COUNCIL THREE YEARS AGO, IT SEEMED LIKE SOMEONE JUST PICKED SOMEBODY AND THEY WERE JUST IN A POSITION. 
          AND NOW WE'VE BEEN STARTED WITH WARREN, ISAAC'S FINISH IT UP. 
          EVERY TOP POSITION IS GOING THROUGH A SEARCH FIRMS, BUT IT TAKES LONGER. 
          BUT I CAN TELL YOU, EVERY PERSON WE HAVE THIS COMING INTO THE CITY ARE EDUCATED PEOPLE QUALIFIED FOR THE JOB THAT HAVE THE EXPERIENCE AND THE KNOW-HOW. 
          WHEREAS BEFORE ALL OF A SUDDEN YOU MAY HAVE SOMEONE THAT WOULD HAVE NO EXPERIENCE, BUT FOR SOME REASON THEY GOT HIRED. 
          SO IT WAS PROBABLY A PROCESS. 
          WE ACTUALLY, I THINK WHAT BOB, WE TRIED TO GET THIS STARTED 
          [00:30:01]
BACK WHEN I THINK WARREN WAS STILL HERE. 
          RIGHT? AND SO, UM, ONE THING I THINK MAYBE THE LAST BUDGET CYCLE, ONE THING LED TO ANOTHER, UM, THE OTHER THING I'D SAY IS ON A POSITION I DO, LIKE I WOULDN'T LOOK AT IT SO MUCH AS A SUCCESSION PLANNING SHOULD SOMETHING HAPPEN ABOVE, BUT I, I LIKED THE IDEA OF SOMEONE THAT HAS A QUALITIES POTENTIALLY TO TAKE OVER, BUT ALSO IT BOB'S WORKING ON A VERY BIG DEAL AND HE DOESN'T HAVE THE BANDWIDTH TO TAKE ON A SMALLER DEAL THAN HE CAN. 
          HE KNOWS SOMEONE, HE OR SHE HAS THE ABILITY TO DO THAT. 
          AND THEN, YOU KNOW, EXPERIENCE CAN ALSO DO IT TO WHERE IT'S ALMOST LIKE A, HE'S A TIER TWO AND THEY'RE A TIER ONE TYPE PERSON TO WHERE THEY CAN DO A LOT OF THE WORK. 
          AND THEN, UM, EVENTUALLY WE'LL HAVE BIGGER, MORE COMPLICATED. 
          I'M SURE MORE COMPLICATED, BE TOUGH TO SAY, BUT MORE COMPLICATED STUFF. 
          AND THEN HE'LL HAVE THE HELP TO WHERE HE DOESN'T HAVE TO NECESSARILY MANAGE THEM ON A DAY-TO-DAY THING. 
          HE'LL JUST BE ABLE TO BE A RESOURCE FOR THEM. 
          SO I THINK YOU PAY FOR WHAT YOU GET AND IF WE CHEAPEN IT OUT, WE'RE PROBABLY NOT GOING TO GIVE YOU THE SUPPORT YOU ACTUALLY NEED OR THE CITY NEEDS. 
          I AGREE. 
          I THINK THAT, UM, IN OCTOBER, BOB IS ACTUALLY RAISED OUR GAME UP IN EDC. 
          SO WE WANT TO MAKE SURE WE STAY AT THAT LEVEL OR ABOVE. 
          WE DON'T WANT TO GO BELOW THAT. 
          SO IT'S A BIG, BIG PART OF WHO WE ARE AND THE THINGS THAT WE'RE LOOKING AT. 
          SO, UH, WE, WE, WE DO NEED TO FIND BOB SOME HELP PROBABLY SOONER THAN LATER. 
          SO, ALL RIGHT. 
          AND ANY QUESTIONS, COMMENTS, I DON'T KNOW IF WE ACTUALLY NEED TO DO ANYTHING ON IT RIGHT NOW, I WOULD, AT THIS POINT IN TIME, NOW THAT I THINK ABOUT IT, PROBABLY JUST SUGGEST THAT ONCE THE, UM, JOB DESCRIPTION HAS BEEN COMPLETED, THEN WE HAVE KIND OF A SALARY RANGE THAT WE WOULD BRING THAT BACK TO THE BOARD FOR APPROVAL TO SAY, THIS IS WHAT WE'RE LOOKING AT. 
          AND THAT WAY THE BOARD CAN GO AHEAD AND APPROVE IT AT THAT POINT IN TIME TO MOVE FORWARD WITHIN THE SALARY RANGE, BECAUSE THERE'S GOING TO BE MORE THAT WE WERE TALKING ABOUT INITIALLY, BUT I THINK IT'S STILL SOMETHING THAT WE WILL BE ABLE TO AFFORD, ESPECIALLY WITH OUR SALES TAX KILLER. 
          UH, ONE THING THAT WE WILL BE ABLE TO TALK ABOUT THE NEXT MEETING ARE THE FIRMS THAT WE'RE CONTEMPLATING BRINGING ALONG TO DO THIS. 
          WE'VE GOT AT LEAST FOUR, UH, IDENTIFIED THAT MIGHT ASSIST IN THE SEARCH. 
          SO WE'RE GOING TO HAVE TO PRIORITIZE AMONGST THOSE AND, UM, YOU KNOW, TALK THROUGH THAT A LITTLE BIT. 
          SO WE CAN CERTAINLY DO THAT BY THE TIME WE GET TOGETHER NEXT TIME, NEXT MONTH. 
          ALL RIGHT. 
          IT'S GOING TO ITEM SEVEN FOR, UM, THERE'S NOTHING THAT NEEDS TO BE DISCUSSING AS IN EXECUTIVE SESSIONS THAT CORRECT GEORGE FOR THE MATTER HORN. 
          NO. 
          OKAY. 
          DISCUSS, CONSIDERING UPDATE AND TAKE ACTION NECESSARILY ACTION ON THE MATTERHORN EXPRESS PIPELINE EASEMENT REQUEST OVER THE MEGA SITE. 
          WELL, I'M PLEASED TO INFORM THE BOARD THAT, UH, AFTER, UM, SOME DISCUSSION WITH REGARDS TO THE STATE OF THE PROPERTY IN THE MEGASITE AREA AND THE VERSATILITY AND THE RAPID GROWTH THAT'S GOING ON AND THE, AND THE TRANSACTIONS, UM, WE, WE CONVINCED THEM THAT THIS WAS AN INAPPROPRIATE ALIGNMENT, UH, FOR THE COMMUNITY. 
          AND SO THEY'VE NOW MOVED THE ENTIRE ALIGNMENT TO, UM, A LOCATION ON THE OTHER SIDE OF ONE 30, BETWEEN 35 AND ONE 30. 
          AND SO IT'S COMPLETELY OUT OF, UM, HOW TO COMPLETELY SO MATTER. 
          HORN PIPELINE IS NOT GOING TO DESTROY OUR ECONOMIC DEVELOPMENT PROJECTS THAT WE'VE BEEN WORKING ON FOR A LONG TIME. 
          SO THAT WAS GETTING NEWS. 
          YUP. 
          GREAT JOB. 
          BECAUSE I REMEMBER I WAS NOT A FAN OF IT AND I WAS, I WAS TAKING MORE OF A, THEY MAY HAVE TO EMINENT DOMAIN, BUT IT MAY HAVE TO, AT LEAST IN MY OPINION, YOU'D HAVE TO FIGHT YOUR WAY THROUGH IT VERSUS US JUST GIVING IT. 
          SO THIS IS A WELL, I MEAN, HAVING DONE A GREAT DEAL OF THAT, THERE'S ALL THESE DIFFERENT THINGS IN EMINENT DOMAIN, SOMETHING CALLED A PARAMOUNT PURPOSE DOCTRINE. 
          FOR INSTANCE, IF THE CITY WANTS IT VERSUS ANOTHER CONDEMNING AUTHORITY, THERE'S A PROGRAM TO DO THAT. 
          THE, UM, THE FACT THAT WE HAVE UNSOLICITED OFFERS AT, YOU KNOW, $6 OR MORE THAN $6 PER FOOT, YOU KNOW, IF THEY WANT TO PAY A QUARTER OF A MILLION DOLLARS AND, YOU KNOW, AN ACRE TO PUT THEIR PIPELINE IN, IT'S GOING TO BE A GOLD-PLATED PIPELINE. 
          UH, AND SO I THINK THAT'S THAT THOSE COMBINATION OF THOSE THINGS IS WHAT I THINK THEY DECIDED THAT THEY'D FIND, UH, A SOFTER TARGET TO, TO PUT IT IN SWEET. 
          ANY FURTHER QUESTIONS FOR GEORGE. 
          ALL RIGHT. 
          LET'S GO ON TO ITEM 7.5 DISCUSSING CONSIDER AND TAKE ANY NECESSARY ACTION REGARDING AN UPDATE ON CORPORATE WEBSITES, SCHEDULING UPCOMING WALKING OPPORTUNITIES FOR THE CORPORATION. 
          UM, LET ME JUST MENTION THE MARKETING OPPORTUNITIES BECAUSE THAT'S WHERE I'VE BEEN FOCUSED MOST OF MY TIME, AS YOU KNOW, WE'VE, I THINK WE TALKED ABOUT THIS A LITTLE BIT. 
          LAST TIME WE MET, UH, WE'VE BEEN EXPERIENCING QUITE AN UPTAKE IN, UH, DESTINATION TYPE ENTERTAINMENT, UH, HIGHER END RESTAURANTS, SO ON AND SO FORTH. 
          THAT SEEMS TO KIND OF ONE WAY OR THE OTHER CORRESPONDENT WITH  RETAIL SEASON, WHICH IS KIND OF NOW UPON US. 
          AND WE'LL BE IN 
          [00:35:01]
LAS VEGAS DOING THAT SHOW AT THE END OF MAY. 
          UM, BUT, UH, AND WE'LL TALK A LITTLE BIT BACK THERE ABOUT SOME OF THOSE POSSIBILITIES PERHAPS, BUT, UH, THE POINT IS I REALLY WANT TO, I'VE REALLY TRIED TO ISOLATE AT LEAST A COUPLE OF DAYS A WEEK WHERE I CAN DEDICATE MY TIME TO THIS TYPE OF ACTIVITY, BECAUSE I THINK IT'S IMPORTANT TO THE CITIZENS OF HOW-TO. 
          I THINK WE NEED THIS TYPE OF INVESTMENT. 
          WE SEEM TO BE KIND OF LINED UP WITH THE MARKET RIGHT NOW, WHERE IT'S INTERESTED IN THE SAME THING WE'RE INTERESTED IN. 
          AND SO I THINK, UM, YOU KNOW, WE'RE GOING TO HAVE A FAIRLY SUCCESSFUL SET OF OPPORTUNITIES COMING IN THE NEXT THREE OR FOUR MONTHS. 
          AND I SAID, I, YOU KNOW, THE WEBSITE, CERTAINLY GETTING IT FINISHED, ALWAYS HELPS US DO A BETTER JOB OF PROMOTING OURSELVES. 
          BUT A LOT OF THIS IS NOW DIRECT ONE-ON-ONE INVOLVEMENT WITH PROSPECTS. 
          AND I WANT TO MAKE SURE WE'RE PUTTING IN THE SAME QUALITY TIME THAT WE HAVE ON THE MEGA SITE ON THOSE PARTICULAR DEALS. 
          SO, UM, THAT'S THE PRIMARY THING I WANTED TO COMMUNICATE TONIGHT IS WE'VE GOT GOOD OPPORTUNITIES NOW AS A FOCUS ISSUE AND WE WILL FOCUS. 
          SO ANY QUESTIONS FOR BOB? WELL, I DO, BECAUSE BEFORE WE HAD, UH, A STAFF UPDATE ABOUT THE WEBSITE AND WE SAID WE WANTED TO COMMIT DATE THAT IT WOULD BE DONE AND READY AND RELEASED BEFORE WE WENT TO ICS MEETING AT THE END OF THE MONTH. 
          AND I DON'T SEE AN UPDATE ABOUT THAT AND WHERE WE'RE AT ON THAT. 
          SO, AND WE MAY NEED TO TAKE ACTION ON THAT BECAUSE WE DISCUSSED, THEY SHOULD HAVE IT. 
          YEAH, I AGREE. 
          I THINK THAT THERE'S BEEN SOME TURNOVER AT THE CITY THAT'S PROBABLY DELAYED ANY TYPE OF, UH, MOVEMENT FORWARD. 
          UH THERE'S UM, I DON'T KNOW IF THERE'S KIND OF WAVERING TRYING TO FIGURE OUT WHO'S DOING WHAT NOW. 
          IT'S PROBABLY QUESTION FOR ISAAC, BUT, UH, I'M NOT SURE EXACTLY WHERE THE WEBSITE IS AT. 
          UH, I KNOW THAT THAT'S ONE OF THE CONVERSATION PIZZAS THAT WE HAD THE LAST MEETING OF GETTING THAT DONE AND TRYING TO GET ALL THE MARKET MATERIAL READY FOR ICRC. 
          SO I DON'T KNOW IF YOU'VE GOT ANY INFORMATION FOR US OR CITY MANAGER, MR. CHAIRMAN. 
          UH, I DO NOT. 
          OKAY. 
          I WILL TOMORROW. 
          PERFECT. 
          SOUNDS GREAT. 
          THANK YOU. 
          YEAH. 
          AS SOON AS WE CAN GET THAT, IF WE CAN JUST PASS IT ONTO THE BOARD THAT WAY THEY KNOW THAT'D BE GREAT. 
          THANK YOU. 
          SURE. 
          CAUSE IT'S DEFINITELY TIME OF THE ESSENCE MOMENT. 
          YEAH, I AGREE. 
          AND THEN I GUESS ALSO, I GUESS THE QUESTION BOB IS, DO WE HAVE THE MARKETING MATERIAL READY TO GO TO ICRC AND BE ABLE TO PRESENT? SO ALL OF THE STUFF THAT WE DID FOR THE BOOTH, THE COLLATERAL INFORMATION, THE BASIC BASELINE DATA THAT WE NEED FOR THE SHOW IS ALL DONE. 
          UH, IT'S IN FINAL PRODUCTION FOR THE BOOTH ITSELF, THE BOOTH WILL BE SHIPPED AND OUT THERE, YOU KNOW, SEVERAL DAYS BEFORE THE SHOW OPENS. 
          UM, SO WE JUST SIGNED OFF ON ALL THAT STUFF LAST WEEK AND IT'S IN GOOD SHAPE. 
          OKAY, GOOD. 
          WELL, AND THAT'S THE BIGGEST PART. 
          OF COURSE, WE DID WANT THE WEBSITE UP AND RUNNING SO WE CAN DIRECT THEM SOMEWHERE ONCE WE GET OUT THERE. 
          BUT WE GOT THE COLLATERAL MATERIAL THAT KIND OF GIVES US A START. 
          AND IF WE DON'T HAVE THAT WEBSITE READY BY THAT TIME, THEN THE ONLY THING LEFT TO DO IS MAYBE JUST PRINTS OUT SOME STUFF THAT SENDS THEM TO THE HUDDLE WEBSITE THAT TAKES THEM TO THE EDC. 
          AND MAYBE THE ONLY THING WE WILL BE ABLE TO DO AT THAT POINT IN TIME, BUT IT GIVES US SOMETHING AT LEAST PRESENT OUT. 
          SO, AND RANDALL, JUST SO YOU KNOW, THE SITE SELECTION PORTION OF THE WEBSITE, WHICH IS A DIFFERENT VENDOR FROM THE OVERALL WEBSITE THAT IS UP AND RUNNING, UH, HAS BEEN UP AND RUNNING FOR A LITTLE BIT. 
          AND IT WILL BE PRIMARILY FEATURED ON THE MATERIAL THAT WE HAND OUT AT THE, AT THE MEETINGS. 
          SO PEOPLE WHO WANT TO GO AND MANIPULATE DATA AND TRY TO FIGURE OUT IF THEIR CONCEPT FITS OR WHATEVER, THEY CAN DO THAT. 
          AND WE'LL BE ABLE TO DO THAT NOW. 
          OKAY. 
          YEP. 
          YEAH. 
          I THINK THE WEBSITE'S HELPFUL, BUT I CAN TELL YOU HAVING GONE THERE SEVERAL TIMES, THE BIGGEST THING THAT I FIND THAT PEOPLE ARE LOOKING FOR AND THAT PEOPLE ARE GIVING IS EVERYBODY'S GOT A FLYER WITH LIKE PROPERTIES AVAILABLE. 
          EVERYBODY TAKES IT, THOSE IN A BAG, BUT THEY'RE REALLY WANTING TO KNOW IS HOW'S THAT BUSINESS DOING? WHAT EXACTLY IS THAT BUSINESS? AND THEN FROM THE MUNICIPALITY OR DEVELOPER'S STANDPOINT, UM, IS YOUR CITY GROWING CAUSE THIS IS, YOU KNOW, THE ENTIRE UNITED STATES IS YOUR CITY GROWING. 
          HOW IS IT GROWING? WHAT ARE YOUR DEMOGRAPHICS LIKE? AND SO, UH, IF YOU TO LIKE PUT A CHEDDAR'S IN OR SOMETHING, CHEDDAR'S IS LOOKING FOR A CERTAIN DRIVE TIME POPULATION. 
          AND SO WHEN WE'RE ABLE TO GIVE THAT INFORMATION, UM, THEY'LL FIND IF THEY REALLY WANT TO COME, THEY TEND TO FIND THE LAND. 
          IT'S JUST A MATTER OF KNOWING WHAT IS, HOW TO LIKE, UM, IS HUDDLE LIKE AUSTIN TO WHERE IT'S GOING TO BE A NIGHTMARE GETTING, YOU KNOW, REGULAR SIGNAGE UP OR IS IT A VERY BUSINESS FRIENDLY? UM, IS THIS A GOOD TIME TO TALK ABOUT BECAUSE OF MARKETING MAY 26, IS THAT SURE I FORGOT TO BRING THAT UP SO WE SHOULD BRING IT UP. 
          UM, SO WE'VE TALKED, I THINK WE TALKED TO THEM EXECUTIVE SESSION ABOUT IT LAST TIME, BUT, UM, THERE'S BEEN A DESIRE. 
          I THINK THE MAYOR BROUGHT IT UP TO NOT ONLY WAIT FOR THE BIG EVENTS, THE TRADE SHOW TYPE EVENTS, BUT TO HAVE ROUTINE CONVERSATION IN THIS MARKET WITH THE AUSTIN, UH, RETAIL 
          [00:40:01]
BROKERS. 
          UM, OBVIOUSLY THIS IS A VERY DYNAMIC MARKET IN ITS OWN, RIGHT? A LOT OF GOOD DEALS COME THROUGH THOSE CHANNELS. 
          SO ON MAY 26TH, I BELIEVE THE DATE IS, UM, WE'RE GOING TO HAVE A LUNCHEON, UM, HERE IN TOWN, INVITING THOSE BROKERS TO COME. 
          WE'RE GOING TO GIVE THEM A PRESENTATION ON SOME OF THE THINGS THAT ARE DRIVING, UH, DEAL OPPORTUNITIES AND HADOW, BUT A LOT OF WHAT WE'RE GOING TO DO IS JUST LISTEN TO THEM AND UNDERSTAND A LITTLE BIT BETTER ABOUT WHAT IT TAKES IN THEIR MINDS TO BE SUCCESSFUL AND TO LOCATE SUCCESSFUL PROJECTS. 
          SO AS THE MAYOR WAS SUGGESTING, WE GET TO A POINT WHERE WE HAVE NOT ONLY THE BEST PRODUCT, BUT THE BEST PROCESS AND PEOPLE CAN COME HERE AND GET DEALS DONE IN A BUSINESS FRIENDLY TIMEFRAME. 
          SO I THINK IF WE ENGAGE THOSE FOLKS ON A MORE ROUTINE BASIS, WE'RE GOING TO FIND THERE'S A LOT OF, UH, PRETTY GOOD TARGET OPPORTUNITIES RIGHT HERE IN OUR BACKYARD. 
          UM, AND PEOPLE ARE GETTING SATURATED IN CERTAIN SUB-MARKETS OF AUSTIN. 
          THEY NEED NEW PLACES TO GO. 
          THEY MAY OR MAY NOT BE THINKING HOW TOP OF MIND, BUT I THINK WE CAN START TO CHANGE THAT BY ENGAGING THEM DIRECTLY AND WHERE THIS KIND OF CAME FROM VICTOR, AS YOU ALL WILL, EXCUSE ME, WILL REMEMBER HE WAS A COMMERCIAL BROKER. 
          AND SO WHILE HE'S OUT ON EDC, HE'S STILL DOING COMMERCIAL THINGS. 
          AND SO HE HAD INVITED ME TO A DEAL AND LAND OR TO SPEAK ABOUT HOW TO WRITE AFTER. 
          I THINK BOB GAVE A PRESENTATION IN DOWNTOWN HADOW AND IT WAS AT CITY COUNCIL. 
          SO I READ IT THE WHOLE THING. 
          IT'S AMAZING HOW MANY PEOPLE WERE AT THAT MEETING. 
          AND WHILE THEY'VE HEARD OF HUDDLE, I'M GOING TO TELL YOU NOT EVERYBODY KNEW WHERE WAS, OR DIDN'T KNOW THAT WE'RE ACTUALLY GROWING, EVERYBODY'S GROWING FAST. 
          THEY DIDN'T KNOW THAT FAST. 
          AND THEN, SO I WAS SHARING THE BOB THAT THERE WAS A MOD PIZZA, FOR INSTANCE, SEVERAL YEARS AGO, THEIR BROKER WAS LOOKING, BUT THEY WERE LOOKING IN ROUND ROCK AND PFLUGERVILLE. 
          AND I SAID, WHY NOT? HUTTOE I DON'T THINK IT'S GOING TO WORK. 
          AND SO I INVITE THEM OUT HERE. 
          WE WENT TO CHILI'S, THERE WAS A WAIT FOR A TABLE BACK WHEN THEY HAD SERVERS ON A TUESDAY NIGHT. 
          AND I SAID, LOOK, IT'S THE ONLY CHILI'S I THINK IN AMERICA THAT HAS A WEIGHT ON A TUESDAY NIGHT. 
          AND THEN WE WALKED OVER TO PIZZA HUT AND SAW THE SCREEN, ALL THE PIZZAS. 
          AND THEN I SAID, IT'S THE SAME WAY AT PAPA JOHN'S AND DOMINO'S. 
          AND SO THEN HE TOOK THAT INFORMATION BECAUSE NORMALLY PEOPLE JUST WRITE OFF HUDDLE BEFORE EVEN THEY DON'T EVEN LOOK IT'S ALREADY WRITTEN OFF. 
          SO THE IDEA WAS, IF YOU GET ALL THE PEOPLE FROM AUSTIN TO COME INTO HOW TO TALK ABOUT THE STORY OF HUTTOE START SEEING IT, JUST GETTING THEM IN HERE TO SEE, YOU KNOW, ALL THE MULTIFAMILY COMING UP, THAT'S OFF OF ONE 30, ALL THE NEIGHBORHOODS, THEN ALL THEY GOT MOST OF THESE SINGLE TENANT USERS. 
          IF YOU WANT HUDDLE ON THERE, YOU'VE GOT TO GET THE BROKER TO, TO THINK THAT THEY WANT THAT TO BE HERE. 
          BECAUSE SOMEONE IN ANOTHER CITY IS, IS USING WHATEVER INFORMATION THEY GIVE THEM. 
          AND IF THEY WRITE OFF HOW TO RUN OUT OF THE GATE, HOW TO, IT DOESN'T HAVE A CHANCE, BUT IF IT BECOMES TOP OF THE LIST NOW, BECAUSE, OH, THEY DON'T HAVE A SIT DOWN RESTAURANT, UH, COMPETITION. 
          SO THE IDEA IS WE'LL GET EVERYBODY IN HERE AS A TITLE COMPANY, THAT'S GOING TO SPONSOR IT SO THAT WE DON'T HAVE A COST TO THE CITY. 
          AND THEN, UM, I WILL TELL THE STORY IN WHAT I THINK WE'LL TRY TO INVITE. 
          I GOT TO TALK TO ISAAC ABOUT, UM, UH, INVITING THE CITY COUNCIL TO ALL GO THERE. 
          CAUSE THE IDEA IS FOR THEM TO TELL US AND THE BOARD HERE, WHAT IS IT THAT STOPS THEM FROM DEVELOPING IN CITIES? OR WHAT, WHAT IS IT ABOUT HUTTOE THAT MAKES HIM NOT SUGGEST HOW TO TOP OF MIND FOR PLACES. 
          AND THEN WE CAN USE THAT INFORMATION. 
          IF IT'S AN ORDINANCE ISSUE, IF IT'S A, SOME KIND OF MESSAGING WE'RE PUT OUT, THEN MAYBE WE CAN ADAPT THAT TO WHERE MAYBE WE'RE MORE INVITING OR IT MAY JUST BE THAT WE JUST DON'T PROMOTE OURSELVES WELL ENOUGH. 
          AND THEY DIDN'T KNOW WHERE, HOW TO IT WAS. 
          AND SO THEN THAT'LL HELP THERE TOO WELL. 
          AND I THINK THE WORK THAT BOB'S BEEN DOING ALSO WITH THE REAL RETAIL COACH, THAT'S GOING TO BE ABLE TO PROVIDE THE INFORMATION AND ALSO FOR THOSE DEVELOPMENT THAT THEY'RE DOING. 
          SO I THINK THERE'S A LOT OF GOOD THINGS MOVING RIGHT NOW WITH GOING TO ICRC. 
          AND WE HAVEN'T HAD THAT CONVERSATION WITH ALL THE, THE VARIOUS BROKERS AND COMMERCIAL BROKERS IN BUSINESSES THAT ARE LOOKING AT AND INCIDENTALLY, I MEAN, WE'VE HAD NO PROBLEM WHATSOEVER FILLING UP THE DANCE CARD AT ICRC. 
          I MEAN, WE'VE PRETTY MUCH GOT MONDAY COMPLETELY BOOKED. 
          UM, AND AGAIN, IT'S BECAUSE THERE IS A GROWING AWARENESS THAT THERE'S SOMETHING GOING ON HERE THAT PEOPLE WANT TO BECOME MORE AWARE OF. 
          UM, BUT TO THE MAYOR'S POINT, WE DON'T WANT TO EXCLUDE OUR BACKYARD, WHICH IS ALSO FULL OF AN AWFUL LOT OF RICH OPPORTUNITIES OF PEOPLE NEEDING NEW LOCATIONS. 
          ANY OTHER QUESTIONS? COMMENTS. 
          THANK YOU, BOB. 
          I JUST WANT TO AGENDA ITEM 7.6 CONSIDERATION. 
          IF ANY LATER ATDC BOARD STANDARD WORK GROUP UPDATES BY BOARD SUBCOMMITTEES. 
          UH, WE, WE JUST COVERED THE MARKETING UPDATE, SO WE'LL LET THAT GO. 
          I HAVE NO INFORMATION ON THE CHAMBER, UM, HAVE NOT HEARD FROM THEM. 
          SO I ACTUALLY PROBABLY NEED TO REACH BACK OUT TO THEM TO SEE IF THEY'RE STILL INTERESTED IN THE, THE, UH, STRATEGIC PLAN THAT WE'RE TALKING ABOUT FROM, UH, WORKING WITH THE CHAMBER AND THE EDC, UM, WHICH I BELIEVE THAT VICTOR WAS ON THAT. 
          AND I TALKED WITH, 
          [00:45:01]
UH, AARON EARLIER AND I BELIEVE THAT SH SHE'S INTERESTED IN SERVING ON THAT. 
          SO I'M GOING TO GO AHEAD AND APPOINT HER TO THAT PARTICULAR, UH, SUBGROUP WITH THE CHAMBER, UH, EDUCATION. 
          I KNOW THAT IS, UM, OUR VICE CHAIR, DON CARLSON. 
          WHO'S NOT HERE, SO I'M SURE HE PROBABLY DOESN'T HAVE ANY INFORMATION, UH, THE COMP PLAN. 
          I'M NOT SURE IF WE HAVE ANY INFORMATION ON THE COMP PLAN WE CAN PROVIDE. 
          WE DO HAVE A LITTLE BIT, UM, WE HAD A MEETING ON APRIL 20TH AND, UM, JUST KIND OF, IT'S BEEN A WHILE SINCE WE'VE MET. 
          SO WE KIND OF REVIEWED SOME THINGS. 
          IT WAS A MUCH SMALLER GROUP THIS TIME AROUND, UM, AND JUST KIND OF WENT THROUGH THE DATA THEY'VE COLLECTED SO FAR AND SOME OF WHAT WAS PRESENTED EARLIER, UM, IN THE PRESENTATION. 
          AND THEN THEY TOLD US NEXT STEPS ARE TO REFINE THE VISION AND GUIDING PRINCIPLES. 
          AND THEN THEY'RE GOING TO PRESENT TO COUNCIL. 
          UM, DO YOU REMEMBER WHAT DATE FRAME THE GAME IS IN JUNE, JUNE? OH, THAT'S RIGHT. 
          THEY'RE ENDING THE FEEDBACK IN JUNE AND THEN THEY'LL THE OTHER TWO THINGS. 
          SO WE GIVE THEM FEEDBACK OF WHERE WE THOUGHT MAYBE THEY HAD MISSED THE MARK A. LITTLE BIT ON THE STRATEGIC VISION BECAUSE WE WANTED TO GET THAT US AND THEN YOU CAN STATE THOSE ACTIONABLE ITEMS BASED ON THOSE CORE VALUES. 
          UM, SO HE CAME UP MORE AND JUST SORT OF A BULLET POINT KIND OF LIKE A WAGON WHEEL WITH LIKE THE IDEA OF LIKE THE HIPPO WAY OF LIFE KIND OF BEING THE CENTER AND THEN THE OTHER SPOKES. 
          SO THEY'RE GOING TO GO BACK AND TWEAK THAT A LITTLE BIT. 
          UM, AND THEN THE OTHER PART WAS ON THE ECONOMIC DOWNTOWN DEVELOPMENT SIDE. 
          THEY KIND OF SHOWED HISTORICALLY HOW IT WAS LAID OUT AND HOW THAT ZONING WAS ALLOWED FOR GROWTH, BUT THAT'S DIFFERENT THAN THE WAY WE'VE DONE EVERYTHING ELSE IN THE TOWN, AS FAR AS YOU JUST HAVE THESE RESIDENTIAL BLOCKS WITH NOTHING INTERNAL TO THEM. 
          UM, SO THAT, YOU KNOW, THERE MIGHT BE SOME OPPORTUNITY WITH A, YOU KNOW, THE PARK BOARD HERE TO HELP GET SOME COMMERCIAL AREAS WHEN STUFF COMES IN AND THEN INCENTIVIZE THOSE TO GET DEVELOPED. 
          SO IT'S LIKE YOU REDUCE THE TRAFFIC BECAUSE NOW THERE'S A LITTLE MORE, LESS TRAFFIC TRIPS OUT OF INDIVIDUAL COMMUNITY AREAS INSIDE THE CITY. 
          UM, SO I THOUGHT IT WAS KIND OF INTERESTING, UM, AS PART OF THAT CAME OUT OF THE DOWNTOWN PORTION OF IT. 
          UM, IS THERE ANYTHING ELSE? THAT'S IT. 
          OKAY. 
          AND THEN I DID HAVE AN EDUCATION SORT OF, UM, I ATTENDED THE, UH, THE FIRST OF THE ISD TAX SERIES, UM, WEEK BEFORE LAST I WANT TO SAY, AND I SPOKE WITH THE SUPERINTENDENT AFTERWARDS AND JUST LISTENING TO KIND OF THEIR PLAN FOR THAT SERIES. 
          UM, I SUGGESTED THAT SHE REACHED OUT TO PROBABLY YOU TO INVITE THE EDC TO BE A PART OF THOSE TAX CONVERSATIONS TOO, SO THAT THE PUBLIC CAN HEAR ABOUT HOW THAT ALL WORKS TOGETHER. 
          AND, AND WE CAN KIND OF PRESENT THAT AS A UNITED FRONT AND THE TEAM STRATEGY. 
          SO BE EXPECTING THAT SOUNDS GREAT. 
          LET'S MOVE ON TO AGENDA ITEM 81 EXECUTIVE SESSIONS, MR. CHAIR. 
          YES. 
          UM, OUR, UH, FINANCIAL ADVISORS HERE. 
          OH, I'M SORRY. 
          I KNEW, I UNDERSTOOD THAT HE MAY HAVE SOME INFORMATION RELATED TO THE TITLE BANK OF LAND INVESTORS PROJECT OF WHICH WE DID THE PUBLIC HEARING, WHICH WOULD BE NINE 11, RIGHT. 
          WITH REGARDS TO FINANCING THOSE INFRASTRUCTURE IMPROVEMENTS THAT ARE RELATED TO THAT. 
          OKAY. 
          SO IF, IF, UNLESS THERE'S SOMETHING CONFIDENTIAL ASSOCIATED WITH HIS PRESENTATION, I WOULD RECOMMEND YOU RECALL, UH, NUMBER FIVE, TWO, AND THEN YOU COULD TAKE HIS INFORMATION UNDER THE, UH, PROJECT TITAN MECHELEN DEVELOPERS PRESENTATION. 
          OH. 
          IN PUBLIC HEARING PORTION OF IT. 
          YES, SIR. 
          THERE'S NO OBJECTIONS. 
          I'LL GO AHEAD AND REOPEN, UH, AGENDA ITEM FIVE TO THE CONDUCT, PUBLIC HEARING PRESENTATION ON PROJECT TITAN MEGA LAND DEVELOPERS. 
          JIM  IS HERE. 
          GOOD EVENING. 
          EVERYONE. 
          INTERESTING TIMES WE LIVE IN, I PREPARED THIS, UM, STAFFS WORKED WITH THEIR ENGINEERS, COME UP WITH A INFRASTRUCTURE FUNDING PROGRAM. 
          AND I DON'T THINK IT'S AN ACTUAL PROGRAM. 
          IT'S MORE OF A CONCEPT OF WHAT THE COST ARE FOR INFRASTRUCTURE FOR THE SITE. 
          WITH ALLOWED ME TO KIND OF SET A FRAMEWORK OF FUNDING TOOLS AND POTENTIAL STRATEGIES THAT YOU'D HAVE. 
          SO WITH THAT, UM, ISAAC CHALLENGE ME. 
          IT KEEPS US BETWEEN FIVE AND SEVEN MINUTES. 
          SO I'M GOING TO WORK THROUGH THIS PRETTY QUICKLY AND ASK YOU, UH, HOLD YOUR ASK. 
          ANY QUESTIONS YOU HAVE, BUT HAVE ICIC BEAR WITH ME IF THAT TAKES SOME TIME INTEREST RATES. 
          UM, IT'S BEEN AN INTERESTING, UH, FIRST A YEAR. 
          AND SINCE WE TALKED LAST, UH, INTEREST RATES CONTINUE TO RISE, SO A BUSY CHART, BUT LET ME TELL YOU WHAT I DO KNOW. 
          UM, WHEN YOU LOOK AT THE LAST 10 YEARS AND YOU LOOK AT A BOND BUYER TAX TEMPT INTEREST RATE, SO THE LOW FOR A GEO BOND, AND I'VE GOT SOME SPECIFIC DATA ABOUT THAT, UH, WAS 2 0 2 FOR THE LAST 10 YEARS ON JANUARY. 
          FIRST OF THIS YEAR, IT WAS 2 12, 10 BASIS POINTS OFF THE LOW IT'S PEAKED AT 3 57. 
          IT'S TRADED BACK THE LAST COUPLE OF 
          [00:50:01]
DAYS. 
          I MEAN A COUPLE OF WEEKS, BUT IT'S, IT'S, IT'S COMING UP. 
          SO JUST BETWEEN JANUARY AND TODAY, MUNICIPAL INTEREST RATES HAVE GONE UP 50%. 
          UM, AND IN FACT, UH, JUST IN THE MONTH OF, UH, APRIL, THEY WENT UP, UH, 27%. 
          I'LL TELL YOU THAT THIS MORNING WE HAD AN OFFICER'S MEETING, TALKING TO OUR ECONOMISTS AND OUR TRADERS, UH, A COUPLE OF POINTS THAT THEY MADE, UM, THAT YOU SHOULD THINK ABOUT. 
          THEY SAID, WHEN WE BONDS, WE'RE DOING ANALYSIS FOR OUR CLIENTS. 
          WE TRADED A BOND ON MONDAY OR TUESDAY. 
          WE HAVE A SALE IN FOR INSTANCE, I TO SALE. 
          AND YOU SEE, UH, LAST WEEK I HAD ONE TONIGHT. 
          ONE OF MY PARTNERS IS COVERING. 
          WE HAVE A NEXT WEEK. 
          HE'S, DON'T USE THOSE NUMBERS BECAUSE THE MARKET CHANGES DAILY. 
          NOW, UM, WE'VE SEEN EIGHT TO 10 BASIS POINTS TRADE OFF ON A DAILY BASIS. 
          UH, CURRENTLY THE, UH, THE CONSENSUS OF WALL STREET, UH, ECONOMIST IS THAT THERE'LL BE A 50 BASIS POINTS MOVE THE NEXT MONTH. 
          AND PRIOR TO JULY AT THE JULY MEETING 25 TO 50. 
          SO WITHIN THE NEXT THREE OR SO MONTHS, WE SPENT ANOTHER 75 TO A HUNDRED BASIS POINT MOVE BY THE FED. 
          UM, UM, THAT BEING SAID, UM, LAST FOUR OR FIVE MONTHS, WE'VE HAD BIG OUTFLOWS IN BOND FUNDS. 
          UM, AND YET SAME TIME TEXAS LEADS AWAY. 
          SO WHERE PEOPLE ARE LOOKING AS HIGH QUALITY CREDITS, UH, RIGHT NOW, UH, WE HAVE THE AA MINUS STABLE BY THE CITY, UH, AA MINUS, UH, EXCUSE ME, A MINUS STABLE BY THE EDC. 
          UM, EDCS ARE A LITTLE BIT DIFFERENT THAN CITIES IN THAT MOST OF OUR CREDIT IS FOCUSED ON TWO AREAS, WHAT YOUR TONOMY IS AND THE, AND THE, IN THE SCOPE, DIVERT DIVERSITY AND MAGNITUDE OF YOUR SALES TAX AND WHAT YOUR LEGAL COVENANTS ARE. 
          A MINUS IS KIND OF A BALLPARK WHERE WE TRY TO GET TO, UM, BECAUSE IT GIVES YOU THE MOST FLEXIBILITY TO ISSUE YET. 
          IT GIVES YOU A MEDIUM INVESTMENT GRADE CREDIT. 
          I'LL TELL YOU THAT TODAY WE SOLD, UM, A $17 MILLION EIGHT MINUS A 30 YEAR, UH, EDC TRANSACTION SALES TAX TAXABLE DEAL, UM, TO GIVE YOU A FEEL HOW FAST INTEREST RATES HAVE MOVED. 
          UM, ON JANUARY WE MADE MY INITIAL PRESENTATION. 
          WE WERE LOOKING AT A FOUR 13, THE PRICE TODAY AT 5 67, UM, LITTLE ONE, 150 BASIS POINTS CONSISTENT WITH WHAT THE MARKET IS. 
          AS I TOLD THAT CLIENT, UM, ON THE PHONE IT'S IT'S EFFICIENT SALE, BUT RATES ARE GOING UP. 
          THE REASON I MENTIONED THAT IS THAT, UM, THAT DEAL GOT DONE AND IT WAS OVERSUBSCRIBED. 
          UM, WHEN RATES GO UP AND INVESTORS ARE LOOKING TO GET QUALITY CREDITS, BUT THE MARKET'S CHANGED. 
          AND THE REASON I ALSO MENTIONED IS BECAUSE PREVIOUSLY, WHEN I MET WITH YOU, WE ACTUALLY TALKED ABOUT A HIGHER NUMBER OF YOUR DEBT CAPACITY CAPACITIES DECLINE, BECAUSE INTEREST RATES HAVE GONE UP BASED ON YOUR EXISTING CASHFLOW, UH, JUST TO KIND OF RE SETS UP, UM, FRAMEWORK, UH, OUR ECONOMIC DEVELOPMENT CORPORATION. 
          SO IN RAPID GROWTH, WE GREW 26% YEAR OVER YEAR, UH, 21, OVER 20, AND WE'RE ON A SLIGHTLY HIGHER GROWTH RATE ON A MONTH TO MONTH BASIS, YEAR TO DATE. 
          UM, YOU KNOW, IT'S EXCITING TIMES HERE AND AN EXPECTATION THAT OUR SALES TAX WILL CONTINUE TO DIVERSIFY AND GROW THE CITY'S, UH, UH, GOT A DOUBLE, A MINUS STABLE REVISED JUST RECENTLY UH, OUTSTANDING RATING, UM, AND INDICATION THE RATING THAT BOTH THE CITY'S RATING AND THE SALES TAX RATING, UM, THINGS ARE HAPPENING SO QUICKLY HERE THAT JUST STAYING THE WAY WE ARE AND GROWING EXPECTATION THAT BOTH THOSE RATINGS WOULD BE HIGHER IN THE FUTURE. 
          UM, HERE'S WHERE IT REALLY COMES DOWN TO, UM, THE PLAN HAD $54 MILLION OF INFRASTRUCTURE BROKEN INTO WATER, WASTE, WATER, AND ROADS. 
          AND THE CONCEPT I REALLY WANT TO TALK TO YOU IS HOW YOU COULD FUND THINGS. 
          AND, AND THERE'S TWO THINGS THAT ARE REALLY IMPORTANT TO, TO INDICATE. 
          ONE IS BASED ON YOUR EXISTING SALES TAX REVENUE, YOU HAD ABOUT 2.5 MILLION OVER THE LAST 12 MONTHS. 
          WE STRAPPED OUR, UM, FIXED, UM, OPERATING COSTS. 
          WE LOOK AT OUR EXISTING DEBT, OUR ABILITY RIGHT NOW ON TODAY'S, UH, INTEREST RATE. 
          UM, WE LOOK AT THAT WE HAVE ABOUT, OH, LET'S SEE, UM, 18 MILLION, $500,000 OF DEBT CAPACITY. 
          UM, THAT, THAT TAKES US RIGHT UP TO, UM, UTILIZE ALL OUR CASHFLOW. 
          SO YOU RESISTING AGAIN, ONGOING BUDGETARY ITEMS, UM, OUR HISTORICAL SALES TAX, WHICH WE HAVE TO USE, UH, AND, AND THAT WOULD FLOAT. 
          THERE WOULD BE A LEVEL OF OUR DEBT SERVICE OUT FOR 30 YEARS. 
          IT'S, IT'S SLIGHTLY LESS THAN WE TALKED ABOUT BEFORE. 
          I THINK I TALKED ABOUT A 22 TO 23 MILLION, BUT IT'S EFFECTIVE INTEREST RATE IS GOING UP. 
          SO THAT CAN BE USED TO FUND ANY OF THOSE ITEMS, WHICH, UM, BECAUSE THEY'RE ALL INFRASTRUCTURE WOULD BE TAXI SEPT. 
          NOW HERE'S THE SECOND PART. 
          AND I THINK THIS IS AN IMPORTANT PART THAT THERE MAY BE SITUATIONS WHERE THE INFRASTRUCTURE OR THE NEEDS YOU HAVE, UM, MAY OUTSTRIP WHAT YOUR DIRECT FINANCING CAPABILITY IS. 
          AND IN MANY CASES WE'VE TALKED ABOUT A COMBINATION OF LAND AND INFRASTRUCTURE, MAYBE TAXABLE AND TAX EXEMPT. 
          AND SO WHAT I DID HERE WAS TO SAY, HOW DO WE SEE OTHER CITIES 
          [00:55:01]
THAT HAVE CREATIVELY FUNDED THIS AND LOOKED AT CITIES ASSISTANCE FOR SHORT-TERM FINANCING CITIES COULD ACTUALLY DO. 
          WHAT'S CALLED A FINANCING AND USE AGREEMENT. 
          UM, AS LONG AS SOMETHING IS ELIGIBLE, WE FUNDED BY CITY AND BY YOUR CORPORATION, THE CITY ACTUALLY COULD ISSUE THE DEBT CORPORATION SIGNS, A CONTRACT WITH THEM SAYING THAT WE'LL PAY YOUR DEBT SERVICE, AND IT CAN BE A WIDE RANGE OF THINGS YOU CAN SAY. 
          UH, YOU KNOW, AGAIN, NOT, NOT RELATIVE FOR OUR ECONOMIC DEVELOPERS, BUT IF WE WERE DOING A PARK, WE SAY WE COULD FUND THE PARK AND WE CAN MAINTAIN THE PARK CAN EVEN GO FAR AND SAY, WE MIGHT CONTROL HOW THAT PARK IS DONE. 
          BUT IN THE CASE HERE INDICATE JUST DIRECT FUND FINANCING. 
          THEN THE QUESTION BECOMES, HOW DO YOU PAY BACK? WELL, SO HE'S GOT THAT CAPACITY AND HAS A TREMENDOUSLY STRONG FINANCIAL CONDITION. 
          EVEN THOUGH IT'S GOT SOME FUNDING GOALS, THE GOAL WILL BE TO STRUCTURE IT WHERE IT WOULD HAVE IMPACT ON THE TAXPAYERS, EVEN THOUGH THIS COURT, THE CITY WOULD PAY FOR IT, BUT THAT WE ACTUALLY HAVE A LOT OF FLEXIBILITY BUILT INTO THE FINANCING PROGRAM, WHERE THERE'S A PACKAGE OF THINGS THAT THE CORPORATION WOULD COMMIT TO THE CITY, AND IT WOULD COMMIT IT IN CONTRACT THAT SOLD PROPERTY. 
          IT WOULD TAKE THE PROCEEDS OF PROPERTY POTENTIALLY AND PAY DOWN THE DEBT FOR THE CITY, USE THE CITY AS AN INTERIM FINANCING. 
          UM, WE COULD SAY, AND AGAIN, I'VE SEEN THIS HAPPEN WHERE A CITY SAID, YOU KNOW, I'LL, I'LL FUND IT, BUT AS YOUR SALES TAX GROWS, YOU'LL ACTUALLY DO REESE, MY LIABILITY. 
          AND WE, WE FUNDED A CORPORATION WHERE THE EXACT SAME SITUATION, LAND SALE, AND A GROWTH IN SALES TAX. 
          ORIGINALLY, THE CITY HAD PAID TWO YEARS OF THE DEBT SERVICE. 
          UM, BUT OVER TIME, THE SALES TAX GREW IN THE CORPORATION, ABLE IT TO ABSORB THE DEBT SERVICE AND TAKE IT OFF THE CITY'S, UM, SHEET. 
          UH, WE HAVE, YOU KNOW, UTILITIES THAT HAVE SOME REVENUES, UM, TALK TO THE STAFF, YOU KNOW, IT'S KIND OF EARLY, BUT YOU EXPECT THESE, THESE USERS TO GENERATE CASHFLOW, NOT SIGNIFICANT. 
          YOU KNOW, WE DON'T TRY TO MAKE TOO MUCH MONEY, BUT WE'LL MAKE SOME CASHFLOW. 
          THERE MIGHT BE SOME IMPACT FEES THAT MIGHT MAY OR MAY NOT HAVE BEEN NEGOTIATED AS PART OF THE INCENTIVE, BUT THOSE ARE ALL POSSIBLE. 
          AND WE DISCUSSED POTENTIALLY PUTTING A TOURISM PLACE, WHICH REALLY IS A WAY OF CONCENTRATING AD VALOREM TAX BASIS GENERATED. 
          SO THE THOUGHT PROCESS HERE IS, UM, IN CASE $54 MILLION, I, I DOUBT THAT $54 MILLION WILL BE PAID AT ANY ONE TIME, CONSIDER THE FULL BUILD OUT OF THE INFRASTRUCTURE. 
          BUT WHEN YOU DO COME FORWARD, A COUPLE OF THINGS I WANT TO POINT OUT ONE IS THAT WE DO HAVE A LIMIT AND OUR LIMIT, UM, UNFORTUNATELY IS BASED ON WHAT OUR SALES TAX IS. 
          AND, AND IF THERE ARE OPPORTUNITIES WHERE WE NEED TO MOVE FORWARD BEYOND THAT. 
          SO UNIQUE SITUATION WHERE I'VE SEEN VERY EFFECTIVELY, OTHER CITIES IN SALES TAX, CORPORATIONS WORK JOINTLY, UH, THE CITY CAN ACTUALLY BECOME KIND OF AN INTERIM FUNDING SOURCE, UH, BACKED UP BY THE CONTRACT, UH, TO GO FORWARD WITH, UM, TO GIVE YOU A FEEL, THAT'S THE PLAN THAT WE PUT IN PLACE HERE. 
          AND IT'S REALLY KIND OF A STARTING POINT TO SAY THAT, THAT THESE THINGS CAN BE FUNDED AND THEY COULD BE FUN IF YOU WANTED TO DO IT ALL ONE TIME. 
          I DON'T THINK IT WOULD BE, BUT IT GIVES YOU A FEEL FOR WHAT CAN TAKE PLACE. 
          SO, UM, UNFORTUNATELY THE RISING INTEREST RATES, EVEN WITH OUR GROWING SALES TAX, UM, UM, WE SEE, UM, A SLIGHT DECLINE. 
          UM, BUT AT THE SAME TIME, UM, I THINK THERE'S SOME OTHER ALTERNATIVES AND, AND I'LL USE THE EXAMPLE THAT, UM, BOTH LAST WEEK, THIS WEEK AND NEXT WEEK, ALL OUR SALES WILL INCLUDE SPECIAL COVENANT THAT BESIDES CALLING THE BONDS FOR ECONOMICALLY FUNDINGS, UH, THE CORPORATION ISSUE BONDS, IF THEY SELL LAND OR LEASE LAND AND RECEIVE FUNDS, THEY HAVE THE OPPORTUNITY TO CALL THE BONDS AT PAR AT THEIR CHOICE, WITHOUT ANY IMPACT ON THE INVESTORS. 
          EACH ONE OF THEM ARE FACING THE SAME SITUATION YOU DID TONIGHT. 
          THE NTS BUYING LAND, THEY'RE GOING TO BE TAPPED OUT. 
          THEY'RE GOING TO HAVE TO SELL LAND, TO WORK WITH OUR CITY TO GET INFRASTRUCTURE. 
          AND, YOU KNOW, UM, SEEMS LIKE EVERYONE'S LOOKING TO LOCK IN AVAILABLE AND IT, UH, COURT AND PRICES GOING FORWARD. 
          UM, THIS IS THE CASHFLOW THAT WE HAVE, UH, WE'RE TALKING, YOU KNOW, SIGNIFICANT CASHFLOW HERE THAT WOULD TAKE PLACE ON, ON THE, ON THE CORPORATION SIDE THAT CAN BE, UM, FUNDED. 
          WE'LL BE ADDING ABOUT $1 MILLION, A DEBT SERVICE ANNUALLY, BUT AGAIN IS CALCULATED YOUR EXISTING DEBT, YOUR EXISTING OPERATING EXPENSES. 
          UM, THIS WILL BE PAID, UM, AND AVAILABLE BASED ON YOUR CURRENT REVENUES. 
          AND THEN THE CITY WOULD ABSORB ABOUT 2.2 MILLION. 
          UM, AND THE THOUGHT WOULD BE THAT, THAT IT, IT MAY EVEN DO AN INTERIM INS TAX LEVY TO REBATE REIMBURSED, ESPECIALLY BY THE SALES SET CORPORATION, THE SALES TAX CORPORATION SOLD LAND OR HAD OTHER REVENUE SOURCES, BUT THE COST OVER ALL THE PROGRAM AND ABOUT A HUNDRED MILLION DOLLARS TO FUND $54 MILLION OF INFRASTRUCTURE, I'D SUMMARIZE IT. 
          SO, UM, UH, CREDIT WORTHY ENTITY GROWING AND, UM, COMPETITIVELY, UH, SOLD BONDS, UH, I MEAN, COMPETITIVELY SOUGHT BONDS, RISING 
          [01:00:01]
INTEREST RATES. 
          UM, OUR CAPACITY AT YOUR CORPORATIONS ABOUT 14 FIVE RIGHT NOW ON A TAX BASIS WOULD BE SLIGHTLY DIFFERENT, UM, UH, SLIGHT LESS ON A TAXABLE BASIS, BUT THERE ARE A LOT OF TOOLS THAT YOU CAN WORK WITH YOUR CITY TO FUND EITHER PERMANENTLY, IF THINGS ARE MEANT TO BE FUNDED PERMANENTLY LIKE INFRASTRUCTURE, UH, OR TO, UM, WORK IS KIND OF AN INTERIM PROCESS. 
          IF WE GROW OVER TIME, A LOT OF FLEXIBILITY IN THOSE CONTRACTS CONCLUDES MY COMMENTS. 
          I'LL OPEN IT UP TO QUESTIONS OR ADDITIONAL INFORMATION REQUEST, JIM. 
          UM, THANKS FOR THE PRESENTATION. 
          IT SEEMS KIND OF DOOM AND GLOOM WITH THE BASIS POINTS INCREASING SO RAPIDLY OVER A FOUR MONTH PERIOD. 
          I MEAN, IT'S YOUR, WHEN YOU'RE TALKING ABOUT 700 BASIS POINTS, JUST AN INCREASE. 
          I MEAN, IT'S, THAT'S PRETTY DRAMATIC. 
          AND THEN AS YOU MENTIONED, THE FEDS ARE LOOKING AT INCREASING AND MORE. 
          SO, WHICH MEANS THAT OUR BONDING CAPACITY IS GOING TO COST EVEN MORE IF WE KEEP ON HOLDING OFF AND WAITING. 
          SO I THINK THE, IT PUTS US IN A POSITION THAT WE HAVE TO MAKE A DECISION, PULL THE TRIGGER FAIRLY QUICKLY. 
          IT WOULD DECIDE TO DO THIS, BUT WE HAVE TO DO THE IN CONJUNCTION WITH THE CITY BECAUSE WE HAVE TO MAKE SURE THAT WE HAVE THE BONDING CAPACITY ON BOTH SIDES IN ORDER TO BE ABLE TO CARRY THE INFRASTRUCTURE THAT WE'RE LOOKING AT. 
          AND OTHER CITIES ALSO LOOKING AT ADDITIONAL THINGS THAT THEY'RE LOOKING ON THEIR END, NOT JUST THIS PIECE OF PROPERTY, BUT ALSO THE OTHER THINGS IN A PREVIOUS LIFE. 
          I, UM, WENT INTO A CITY THAT HAD A, THAT WAS THEIR BOND CAPACITY WITH THE BOND RATING WAS NON-INVESTMENT GRADE. 
          THERE WOULD BE WITH AN, WITH A NEGATIVE OUTLOOK. 
          WE ENDED UP GOING TO, UH, NEW YORK AND MEETING, WENT TO BOND COUNCILS WITH S AND P FITCH. 
          MOODY'S EVERYBODY THAT WE NEEDED TO IN ORDER TO TELL THE STORY ABOUT THE CHANGES THAT WE HAD MADE IN ORDER TO IMPLEMENT THE FISCAL RESPONSIBILITY. 
          AND THROUGH THAT, WE WENT MANAGED TO BE ABLE TO GET AN UPGRADE TO A, A TRIPLE B WITH A NEGATIVE OUTLOOK, I'M SORRY, TRIPLE B WITH A STABLE OUTLOOK, WHAT WE ENDED UP GETTING, WHICH AT LEAST PUT US BACK INTO INVESTMENT GRADE. 
          SO WE COULD REFINANCE SOME BONDS. 
          AND THE PROCESS OF DOING THAT, WE WENT FROM ABOUT A 7% COUPON DOWN TO LIKE, YOU KNOW, 2.2, WE HAD, UH, ANOTHER ONE THAT WE WERE AT THAT WAS AT 5% THAT MANAGED TO ROLL TOGETHER. 
          YOU GET THAT 2.2 BONDS. 
          SO LET'S SAY MILLIONS OF DOLLARS FOR THE TAXPAYERS TO DO THAT. 
          ALL THAT UDACITY HAS. 
          WHAT'S THE LIKELIHOOD OF BEING ABLE TO GO TO NEW YORK, HAD THIS CONVERSATION WITH THE BOND MARKETS TO KIND OF TELL THE STORY OF WHAT WE'RE DOING AND TO SHOW THE FISCAL RESPONSIBILITY OF THE CITY AND WHAT THEY'RE DOING NOW IN THEIR BUDGET, PUTTING MONEY TO THE BOTTOM DOLLAR, TRYING TO INCREASE THEIR FUND BALANCE IN ORDER TO BE ABLE TO SEE ABOUT A, A BETTER BOND RATING IN ORDER TO BE ABLE TO PROVIDE, UH, FOR THE, UH, I THINK YOU'RE TRYING TO GET, UM, YEAH, I'LL SAY IF YOU DON'T MIND TRY TO GET BACK TO WHERE WE AT BEFORE. 
          UM, I THINK WHAT WE NEED TO GO BACK. 
          YEAH. 
          UH, W WHAT ARE THE LIKELIHOOD OF DOING THAT? WOULD IT MAKE ANY DIFFERENCE IN BEING ABLE TO INCREASE, UH, WELL, LET ME ADDRESS THAT. 
          AND IT'S AN IMPORTANT QUESTION, AND MAYBE NOT HAVING, UM, INSIGHT TO THE CITY. 
          I WILL THINK THAT THE MAYOR WOULD KNOW THIS, BUT, UM, OVER THE LAST TWO YEARS, UH, SINCE THERE'VE BEEN SOME CHANGES IN THE CITY, WENT THROUGH DIFFICULT TIMES, THE CITY HAS BEEN IDLING ABOUT WHAT THE RATINGS, UM, STEP ONE WAS DURING THE IDENTIFICATION, THE ISSUES WORKING WITH THE RACIES. 
          SO THE RATING DIDN'T GET DROPPED. 
          AND WHEN A NEGATIVE OUTLOOK, WHICH WAS A POSITIVE, WE DIDN'T WANT TO GET DOWNGRADED, BUT WE STOOD NEGATIVE. 
          AND WE WERE GIVEN A, A PERIOD OF TIME. 
          UM, UH, A VERY COMPREHENSIVE PLAN WAS PUT IN PLACE TO RIGHT-SIZE A BUDGET, PUT POLICIES AND PROCEDURES IN PLACE, HIRE, UM, COMPETENT, APPROPRIATE PROFESSIONALS TO RUN THE CITY. 
          AND I'M PLEASED TO SAY THAT THE STEP ONE OF THAT GOAL IS ACCOMPLISHED. 
          YOU KNOW, WE WE'VE BEEN, I THINK OVER THE LAST YEAR WAS TALKED TO THE RAINY SEASON FOUR TIMES. 
          AND THE LAST RESULT WAS WE WENT BACK TO A STABLE OUTLOOK THOUGH IN A STABLE OUTLOOK. 
          UM, IT WAS CLEARLY INDICATED THAT THAT EVERYTHING THE CITY'S DOING IS ON TRACK FOR HIGH RATINGS. 
          AND SO MY BELIEF IS THAT, UM, AND I WOULD ASK THE CITY STAFF WHO HAS BEEN INVOLVED AND I'VE WORKED WITH ON THIS, THAT WE ARE ACTIVELY INVOLVED IN MASSIVE INFORMATION AND DATA PROVIDING WITH THEM. 
          THEY UNDERSTAND BOTH OUR CURRENT FINANCIAL CONDITION AND OUR MULTI-YEAR FINANCIAL PLAN. 
          AND OUR RATING IS THE HIGHEST IT CAN BE AT THIS TIME FOR THE CITY. 
          UM, UH, AND, AND THE PEOPLE HAVE AN IN-DEPTH KNOWLEDGE, UH, ABOUT IT. 
          WE'VE HAD NUMEROUS CONVERSATIONS ON YOUR ECONOMIC DEVELOPMENT CORPORATION. 
          AGAIN, THE THOUGHT ON YOUR ECONOMIC DEVELOPMENT CORPORATION AT THAT THERE'S TWO POINTS. 
          ONE IS YOUR SALES TAX, AND TWO IS OUR COVENANTS. 
          AND SO THE, UM, THE ISSUE WITH THAT BEING A LITTLE BIT DIFFERENT THAN THE CITY IS THE CITY. 
          AND LET ME, LET ME PUT THIS IN PERSPECTIVE SO I CAN EXPLAIN THIS. 
          UM, WHEN CITIES ISSUED DEBT, WE LEVY TAXES, THE GENERAL THOUGHT PROCESS IS WE LOVE YOUR TAX, AND WE WANT TO PAY FOR IT. 
          IT'S AS EXPECTED. 
          THE TWO ISSUES THAT THEY LOOK FOR THE CITY ON, IN THE TWO, YOU KNOW, THERE'S, THERE'S YOUR MANAGEMENT, THERE'S YOUR DECK PROFILE? THERE'S YOUR OPERATIONAL EFFICIENCY IS YOUR CASH BALANCES. 
          UM, 
          [01:05:01]
WE'VE DONE A LOT OF WORK WITH HIGH RATED CREDITS AS WE'VE GONE THROUGH PRIME, AND WE'VE GONE THROUGH, THROUGH UH, COVID AND WHERE WE ARE RIGHT NOW IS HAPPENING IN ECONOMY. 
          AND THE RATING CS MIGHT SAY THIS FOR, BUT 80% OF WHAT THEY LOOK AT IS, DO YOU HAVE ONGOING OPERA, OPERATIONAL EFFICIENCY AND POSITIVES? DO YOU IDENTIFY VARIANCES EARLY? DO YOU HAVE CASH BALANCES? SO BETWEEN CASH AND, AND, UH, YOUR OPERATIONAL EFFECTIVENESS IT'S RATING? UM, I HAVE, UH, MY HIGHEST AAA ACTUALLY, SOMETIMES THEY HAVE THE HIGHEST DEBT STATISTICS WITH THE PILL. 
          PEOPLE LIVE THERE BECAUSE OF THE QUALITY OF LIFE, IF THEY WANT TO PAY FOR THOSE. 
          SO THERE'S NOT AS MUCH DIRECT CORRELATION TO DEBT. 
          AND I THINK THAT'S A SITUATION. 
          IF WE LOOK AT OUR CITY, THEY'VE PROVEN, UH, SINCE THEY RIGHT-SIDED AND SET THE REVISED FINANCIAL PLAN, THEY'VE EXCEEDED IT, UM, UH, EVERY BENCHMARK, UM, AND, AND A SIX MONTHS BASIS, I'VE TALKED TO RACIES THEIR PLANS. 
          CAN YOU GO FORWARD? WE'VE, WE'VE EXCEEDED OUR FUND BALANCE, UM, POSITION FROM PRIOR TO OUR TROUBLES, WE'RE ON TRACK. 
          AND IN FACT, ANYTHING MORE THAN WE DO, WE'RE NOT RECEIVED BENEFIT FOR. 
          IT'S JUST A MATTER. 
          NOW, UNFORTUNATELY, SOMETIMES READING SHOULD HAVE TIME TAKE. 
          WE JUST WANT TO SEE A LITTLE CONSISTENCY FROM THAT PERSPECTIVE, BUT IN YOUR SALES HAS CORPORATION, YOU KNOW, WE, WE REALLY DON'T HAVE A SIGNIFICANT OPERATIONAL ISSUES. 
          YOU HAVE MINOR OPERATIONAL COSTS. 
          UM, SECONDLY, UH, UM, REALLY DIDN'T HAVE A FUND BALANCE ISSUES. 
          YOU KNOW, YOU, YOU, YOU KEEP SOME CASH, BUT, YOU KNOW, IN GENERAL, IT'S NOT AN OPERATIONAL ISSUE. 
          SO THEY LOOK AT THE SIZE AND THE SCOPE WITH THE AREA, THE CONCERNS THEY WOULD HAVE IS THERE A CONCENTRATION, UM, THAT, THAT SOMEONE COULD WALK AWAY AND CAUSE SOME ISSUES. 
          AND, AND, AND THAT'S NOT SOMETHING HERE. 
          SO IT COMES DOWN TO YOUR, YOUR COVENANTS AND THE WAY TO GET A HIGHER RATING FOR YOUR SALES TAXES TO MOVE TO A HIGHER, UH, COVERAGE RATIO LIMITATION ON YOUR DEBT OR TO LIMIT FUTURE ISSUES. 
          AND SO WHAT I WOULD SAY TO YOU IS THAT THE DEBT ITSELF, UM, IS COUNTERPRODUCTIVE BECAUSE IT WOULD LIMIT YOUR FLEXIBILITY. 
          BUT, BUT ONE THING I DO WANT TO POINT OUT TO YOU, AND I THINK IT'S INTERESTING TO SEE, AND IT TALKS ABOUT WHAT'S HAPPENED TO OUR MARKETPLACE AND ON PAGE EIGHT OF THIS PRESENTATION, UH, IT TALKS ABOUT THE DIFFERENCE RATING. 
          SO, UH, THIS IS ONE THING I HAD A LONG DISCUSSION, UM, UH, THE PREVIOUS PAGE TO THAT ONE, PLEASE. 
          AND, AND HERE'S SOMETHING THAT'S INTERESTING. 
          UM, WE'RE A MINUS SALES TAX CORPORATION WITH A PASSIVE INCOME. 
          WE'RE GONNA ISSUE BONDS TO OUR MAXIMUM, ADDITIONAL MINDSETS AND ISSUED FOR 30 YEARS. 
          WE'VE GOT AN, A MINUS AND WE'D END UP GETTING A, MY STABLE. 
          ON THE OTHER HAND, THE CITY, UM, HAS A SIGNIFICANT TAXING POWER. 
          UH, IT'S A AA MINUS, UM, WE'RE TALKING ABOUT FUNDING INFRASTRUCTURE AND INTUITIVELY OVER HISTORY. 
          I THINK WHAT'S, WHAT'S THE DIFFERENCE IN INTEREST RATES, YOU KNOW, DO YOU EXPECT THE CITY TO BE, UM, JUST BY NATURE, WHAT I'M TALKING ABOUT TO HAVE A LOW RATE? WHEN I LOOKED AT THE SPREAD HERE, IN FACT, WE WENT TO LA DI A LOT OF DISCUSSION ABOUT IT IS IF YOU'RE A MINUS TO YOUR AA MINUS TO A SALES TAX TO A GEO, LET ME JUST ADD LAUREN, WE'RE TALKING 25 BASIS POINTS. 
          AND SO WHAT I WANT TO SAY TO THAT IS THAT THE RISK, YOU KNOW, THE FACTOR IS INTEREST RATES IS, YOU KNOW, WHAT IS OVER CORE INFLATION? WHAT IS THE RISK ADJUSTMENT FOR THE CREDIT RATING THAT YOU HAVE? AND WHAT'S YOUR VOLATILITY? THE, UH, WHEN YOU LOOK AT WHAT'S HAPPENED TO OUR INTEREST RATE, IT'S NOT BECAUSE OUR SECTORS BECOME MORE RISKY BECAUSE CORE INTEREST RATES ARE UP, YOU KNOW, THE SPREAD OF 25 BASIS POINTS. 
          MIGHT'VE BEEN 25 BASIS POINTS. 
          WHEN WE WERE TALKING ABOUT, UM, THE CITY ISSUE, WE HAD 2.3%. 
          YOU WISH YOU HAD 2.5%, BUT JUST AGGREGATE IN INFLATION HAS GONE UP. 
          SO TO ANSWER YOUR QUESTION, WE, WE, WE RE WE RE EVALUATE IT, BUT I DON'T THINK THERE'S ANYTHING THAT WE COULD DO. 
          WE JUST WENT THROUGH JUST A COUPLE OF MONTHS AGO, UH, EXTENSIVE PROCESS THAT ITSELF STARTED IN NOVEMBER. 
          IT DIDN'T FINISH UP TO MARCH. 
          AND, AND I DO THINK YOUR SALES TAX CORPORATION, UM, AGAIN, BASED ON DOING WHAT WE'RE TALKING ABOUT 18 80 MILLION, UM, AND HAVING JUST DONE THIS TODAY WITH SOMEONE, YOU KNOW, WE'RE GOING TO BE AT A MINUS LEVEL, UNLESS WE START CHANGING OUR COVENANTS, WHICH WOULD REDUCE YOUR COSTS. 
          UM, THE ONE THING I JUST SAY, WE SHOW THE RATES NOW, BUT YOU KNOW, THE REAL KEY IS I, I, AS I TALKED TO MY TEAM, AS WE'RE TALKING TO HER, SHE WAS NOW WITH THAT, YOU'D NEVER, YOU DON'T ISSUE RATES IN DEBT BECAUSE OF INTEREST RATES, BUT YOU TAKE CONSIDERATION INTEREST RATES. 
          SO THE GOAL THAT WE WOULD HAVE WORKING WITH YOUR STAFF IS REALLY START TO LOOK AT AND SAY, THIS IS WHERE RATES ARE TODAY. 
          WHAT DO WE DO TO STRUCTURE, TO GIVE US AN EARLIER CALL PROBATION, OR TO CHANGE IT UP WHERE WE MIGHT HAVE TO BORROW IT THIS RIGHT NOW, BUT HOW DO WE OVER TIME AS OUR MARKET OF GETS BACK TO A LOWER INTEREST RATE OVER TIME. 
          UM, AND, AND AN EXAMPLE, UM, IN A PREVIOUS MEETING, WHEN WE TALKED TO HIM, I SAID, DID WE PUT THE FEATURE IN THERE WHERE YOU SELL PROPERTY AND YOU MIGHT ISSUE DEBT. 
          HERE'S AN EXAMPLE WHERE, YOU KNOW, IF WE DID ISSUE SOMETHING IN YOUR, BESIDE, TECHNICALLY ON A TAXABLE LAND 
          [01:10:01]
ACTS, WHICH WHEN YOU'RE AT FIVE 60, LIKE MY CLIENT 67, LIKE MY CLIENT WAS TODAY, THEY ARE GOING TO BUY THE LAND AND TRANSFER IT TO SOMEONE IN A COUPLE MONTHS. 
          IF THEY BUILD INFRASTRUCTURE, THEN THE QUESTION BECOMES THAT TIME. 
          UM, OUR NEW INTEREST RATES AT THAT TIME, WHERE MARKET, WHETHER IT'S A YEAR OR 18 MONTHS FROM NOW, OR IS IT GONNA BE LOWER, SO THEY'D GO ACCESS CAPITAL AND WE PAY DOWN THAT DEBT AT PARK, OR DO WE KEEP THAT CASH? BECAUSE THEY JUST RAISED SOME MORE. 
          SO, YOU KNOW, WE, WE TRY TO BUILD FLEXIBILITY, BUT IT IS WHAT IT IS, BUT I IT'S, IT'S SORT OF, AND IT'S A CHALLENGE WE HAVE, BUT I THINK WE ARE WHERE WE ARE RIGHT NOW. 
          AND, AND AGAIN, THAT WAS JUST A SIMPLE PAGE THERE, BUT WE SPENT A LOT OF, A LOT OF EFFORT AND TIME INTO THAT WHOLE PROCESS. 
          WELL, AND I KNOW THAT, YOU KNOW, THE SALES TAX BASED ON WHERE WE'RE AT RIGHT NOW, NOW THAT THE, OUR SALES TAX IS ABOVE WHAT WE WERE PROJECTED FOR THE BUDGET YEAR, WHICH IS GOOD ON THAT ASPECT. 
          BUT EVENTUALLY THE ECONOMY IS GONNA, IT'S KIND OF COOL OFF. 
          SO, I MEAN, SO WE HAD, I KNOW THAT'S A PROJECTION I'M TRYING TO FIGURE OUT, WILL IT BE ABLE TO SUSTAIN, YOU KNOW, EVEN 20 YEARS FROM NOW BASED ON SALES TAX, I THINK BASED ON THE PROJECTION THAT THEY'RE LOOKING AT AND GROWTH OF THE POPULATION, IT, YOU KNOW, ARGUMENT WILL SAY, YEAH, IT'LL STAY, CONTINUE TO STAY THERE, BUT YOU NEVER KNOW THAT FOR SURE. 
          BUT WHAT I'M LOOKING AT IS THAT BASED ON THAT, UH, ON THE DIFFERENCE OF THOSE BASIS POINTS OF WHAT IT WOULD BE, AND ESPECIALLY RIGHT NOW, BECAUSE IT'S GOING UP SO RAPIDLY. 
          UM, AND I DON'T SEE THE FEDERAL RATES GOING DOWN ANYTIME SOON, THEY'RE GOING TO CONTINUE TO GO UP TO TRY TO OFFSET THE INFLATION THAT WE'RE EXPERIENCING NOW BECAUSE OF SOME OF THE DECISIONS THAT WERE MADE PREVIOUSLY. 
          AND SO THAT IS GOING TO CAUSE THIS BOND ISSUANCE AS CAN BE EVEN MORE SO COST IS MORE SO. 
          AND I AGREE. 
          I MEAN, IF WE NEED THE MONEY, WE NEED THE MONEY, WE JUST HAD TO PAY WHATEVER THE BASIS POINTS ARE AND JUST, AND JUST, YOU KNOW, KIND OF EATING AND GO. 
          AND ALSO, I WOULD PROBABLY JUST CAUTION THAT THE BOARD IS SIMPLY SAY ALSO KNOW THAT DOWN THE ROAD, WE MAY BE ABLE TO REFINANCE. 
          IF RATES ARE BEGIN TO START GOING BACK DOWN, WHICH WILL HELP US OUT AND TO BE ABLE TO OFFSET THE COST OF THOSE BONDS. 
          BUT I THINK IN ORDER FOR US TO BE ABLE TO DO THE ECONOMIC DEVELOPMENT THAT WE WANT, WE'RE JUST GOING TO HAVE TO GO OUT TO THE MARKET AND SELL THESE BONDS. 
          THESE WOULD BE TAX EXEMPT, BONDS, WELL CORE INFRASTRUCTURE, THE ITEMS THAT WE TALKED ABOUT, THE 54 MILLION ROADS, WATER SEWER, THEIR TEXTS, GENERAL PURPOSE FOR EVERYONE. 
          OKAY. 
          LAND ACQUISITION GOES TO THE TAX. 
          WELL, THAT'S GOING TO BE DIFFERENT. 
          OKAY. 
          ALL RIGHT. 
          ANY QUESTIONS FOR JIM? MY ONLY COMMENT IS, UM, WHEN WE GO TO ISSUE DEBT, AS LONG AS IT DOES NOT AFFECT, YOU KNOW, HOW I AM ABOUT TO INS AS LONG AS IT DOES NOT GO TIT INS, SO THAT IF WE WANT THE CITY TO ISSUE $10 MILLION IN DEBT FOR ROAD PROJECTS THAT THAT HELP WITH THE MEGA SITE, THEN I'D LIKE TO SEE HIM. 
          IF I REMEMBER RIGHT, GEO AND CEO ARE PAID FOR OUT OF GENERAL REVENUE FUNDS, NOT INS, I HAVE NO PROBLEM WITH THAT. 
          AS LONG AS WHATEVER IS BEING GENERATED FROM THAT BUSINESS IS THERE TO PAY FOR IF THAT MAKES SENSE AND WHERE I'M GETTING WITH THIS IS IT'S LIKE THE MCA WE GO OUT AND WE ISSUED SAY $10 MILLION TO BUILD A YMCA. 
          SO EVERYBODY'S TAX BILL GOES UP, BUT THEN WHEN THE MONEY COMES IN, IT GOES INTO A DIFFERENT POT. 
          AND SO ANY REVENUE GENERATED OFF THE YMCA WENT BACK INTO GENERAL REVENUE. 
          SO WE ACTUALLY NEVER SEE A DECREASE IN OUR BILLS. 
          AND SO IF WE'RE GOING TO THROW OUT A BILLION DOLLAR BUSINESS OUT OF, AT THE MEGA SITE, WHATEVER DEBT WE TAKE ON, IN MY OPINION, IT HAS TO BE PAID FOR BY THAT DEVELOPMENT. 
          BECAUSE IF ANYBODY'S TAX, BILL GOES UP $1, BECAUSE WE GOT A BUSINESS THAT CAME IN HERE, THEN THAT'S PROBABLY NOT A GOOD DEAL. 
          AND SO WE TALKED BEFORE ABOUT TOURISTS. 
          THAT'S WHY I LIKED THE TOURS BECAUSE THEN YOU'RE TAKING LAND THAT WAS PRODUCED IN SAY A THOUSAND DOLLARS IN PROPERTY TAXES. 
          AND YOU'RE USING A GAIN FROM A THOUSAND TO WHATEVER IT IS, A MILLION A YEAR. 
          AND USING THAT SPREAD TO PAY FOR THE DEBT SERVICE. 
          AND YOU'RE THE SMARTEST GUY. 
          WE GOT A, THAT DOES IS. 
          SO FOR ME, AS LONG AS WHATEVER WE'RE DOING, IT'S BEING PAID FOR BY DEVELOPMENT, THEN I'M A HUNDRED PERCENT ON BOARD. 
          BUT IF ANYTHING COMES THROUGH AND IT'S, YOU KNOW, I SEE TAX BILLS GOING UP, I CAN'T EVER VOTE FOR THAT BECAUSE THEN I ALWAYS FELT LIKE, UM, IT'S NOT WORKING. 
          SO I THINK THERE'S ENOUGH DEVELOPMENT COMING. 
          I GUESS WHAT I'M SAYING, THAT WE OUGHT TO BE ABLE TO DO A TERS AND IT NOT GO A HUNDRED PERCENT OF THE TOURISTS GO TO THAT, TO WHERE THE CITY STILL HAS MONEY. 
          CAUSE THE CITY'S ALSO GOING TO NEED GENERAL REVENUE MONEY TO HELP WITH THE POLICE. 
          UH, THAT'S GOING TO TAKE, YOU KNOW, EXTRA PATROLS AND THINGS LIKE THAT. 
          BUT I JUST THROW THAT OUT THERE BECAUSE I DON'T WANT TO SEE US RAISING, I DON'T WANT TO SEE US DO ECONOMIC DEVELOPMENT AND THEN EVERYBODY'S PAYING MORE IN TAXES BECAUSE HOW WE STRUCTURED IT. 
          NO, AND I, I NEED TO FOLLOW UP AND I WAS SPEAKING TO THE BOARD AND SAY THAT INDEPENDENTLY, BUT THROUGH A PUBLIC PRESENTATION RECENTLY I'VE TALKED TO THE CITY, DISCUSSED THE COVID SHOULD HAD GETTING BACK TO GROUND ZERO AND HOW THEY INTEND TO MOVE FORWARD WITH HIGHER RATINGS. 
          AND ALSO WE TALKED TO THEM CAPACITY 
          [01:15:01]
AND BASED ON SEQUEL SERVER ESTIMATES GROWTH, WE BELIEVE CITY HAS THE ABILITY TISSUE, MAYBE AROUND $60 MILLION FOR THE NEXT THREE YEARS. 
          IT'S CURRENT IRS RATE, BUT THEY MAY OR CORRECTLY FOCUSED ME AND SAID THAT THAT 60 MILLION THAT WE'RE TALKING ABOUT, UM, PEOPLE ARE GONNA PAY FOR. 
          IT'S NOT THAT THEY PAY THE SAME RATE, BUT THEY'RE PAYING FOR EACH INDIVIDUALLY SHELL. 
          SO YOU CAN ISOLATE EACH ITEM AND SAY, IF WE DID AN ISSUE, THIS, OUR TAX RATE WOULD HAVE GONE DOWN BECAUSE OF OUR GROWTH. 
          BUT EACH ONE OF THESE ITEMS HAS ITS OWN COMPONENT. 
          YOU KNOW, THE THOUGHT AGAIN, THE THOUGHT PROCESS IS I'M FULLY, FULLY COGNIZANT OF THE CITY'S GOAL OF NOT TO HAVE THIS IMPACT TAXPAYERS IN THE PLAN. 
          YOU KNOW, WE WERE PROPOSING IS TO TRY TO CREATE SOMETHING THAT IF NEEDED THE CITY COULD HELP THOUGH IT WOULD IMPACT THE TAXPAYERS BECAUSE AGAIN WOULD BE CONSIDERED INTERIM, YOU KNOW, ARE THE RESOURCES THAT YOU HAVE THAT YOU COULD APPLY TO ASSIST THE CITY. 
          AND AS YOU BREW YOUR SALES TAX OR SELL SOME LAND OFFSET, THAT CITY DEAL, I MEAN, IT'S, IT'S JUST, UH, THE FACT OF THE MATTER IS THAT THEY DON'T HAVE, UH, UH, A LEGAL LIMIT. 
          LIKE YOU DO, BASED ON YOUR SALES. 
          LIKE, YOU KNOW, THEY CAN ADJUST THEIR REVENUES A LITTLE BIT, BUT THE GOAL WOULD BE, IF YOU DID FINANCE SOMETHING, UH, WE WOULDN'T TAKE AWAY FROM THAT 60. 
          YOU JUST ACTUALLY FUND IT AND TAKE IT OFF THEIR HANDS AND REIMBURSE THEM FOR THE COST THAT YOU HAVE. 
          THAT THAT WAS MY PLAN FOR THEM. 
          YEAH. 
          WHAT HE'S GOT TO SAY, YOU ALWAYS HEAR THAT, UM, THE TAX RATES STAYED THE SAME, RIGHT. 
          BUT THEN YOUR BILL WENT UP THAT'S BECAUSE YOUR VALUE WENT UP. 
          AND SO WHAT I CHALLENGED, THERE'S A COUPLE OF US ON THE COUNCIL THAT WE DON'T REALLY CARE WHAT THE TAX RATE IS. 
          WE ONLY CARE HOW MANY DOLLARS WE'RE ACTUALLY PAYING IN OUR BILL. 
          AND SO WHEN SOMEONE FIRST YOU SAID, HEY, YOU CAN BORROW $60 MILLION AND YOU RATE STAY THE SAME. 
          AND I SAID, YEAH, BUT THE VALUES ARE GOING UP. 
          SO HOW MUCH CAN WE BORROW? AND MY TAX BILL TO THE INS PART STAYED THE EXACT SAME. 
          AND THAT'S WHAT HE WAS WORKING ON BECAUSE I LIKE THE CONCEPT OF YOU'RE ALREADY HERE. 
          YOU'RE PAYING $50 IN DEBT. 
          NOW I MOVE HERE. 
          I COULD STILL PAY $50. 
          SO WE'D ALREADY ISSUED $50 OF DEBT. 
          SO NOW WE HAVE $50 MORE WE CAN ISSUE. 
          AND WE'RE HAVING, I DON'T WANT TO PAY $52 JUST BECAUSE YOU MOVED HERE BECAUSE NOT TO BE MEAN AND RUTHLESS, BUT IF YOU DON'T MOVE HERE AND I KEEP PAYING 50, THEN I DON'T WANT YOU TO MOVE IN HERE. 
          NOW, IF YOU MOVE HERE AND ALL OF A SUDDEN, I GO FROM PAYING 50 TO 49, THEN I'M INVITING YOU AND YOUR FRIENDS. 
          CAUSE EVERY TIME YOU BRING PEOPLE ON 48, 47, BUT IF EVERY TIME SOMEONE MOVES IN OR BUSINESS COMES IN, WE'RE PAYING MORE. 
          WE TALKED ABOUT A YEAR OR SO AGO. 
          THEN IF THE GROWTH IS NOT PAYING FOR ITSELF, THEN LET'S JUST STOP GROWING BECAUSE IN OUR TAX, BILL STOPS GROWING. 
          BUT I THINK JIM'S GOT, UM, SOME PRETTY GOOD. 
          AND THE LAST THING I'LL SAY THE DEBT, HE, WE RAN SOME NUMBERS AND KINDA ON THE BACK OF A NAPKIN, BUT LIKE $7 MILLION IN DEBT ADDS $55 TO YOUR TAX BILL AT CURRENT VALUES FOR EVERYTHING. 
          SO IF YOU DO ONE INTERSECTION OR ONE ROAD, THAT'S 55 FOR THE REST OF YOUR LIFE, BASICALLY 30 YEARS, RIGHT? BECAUSE WE'RE OLD ENOUGH THAT WE MAY NOT MAKE IT. 
          SO THEN THAT MEANS THAT'S AT ONE DEAL. 
          AND SO NEXT YEAR YOU DO ANOTHER DEAL AND THAT'S 7 MILLION, THAT'S 55 MORE DOLLARS. 
          AND IF YOU DO DO A DEAL LIKE THAT EVERY YEAR BEFORE, LONG, YOU'VE DOUBLED YOUR TAX BILL, AND YOU'RE TRYING TO FIGURE OUT WHAT HAPPENED. 
          AND SO WE'VE BEEN WORKING, UM, TRYING TO FIGURE OUT WAYS TO SPEND THE MONEY. 
          AND I THINK THAT'S WHERE GEORGE BROUGHT IN THE TOURIST THAT I REALLY ATTRACTED TO ME BECAUSE THAT IS IN MY MIND, DEVELOPMENT PAYS FOR THE DEVELOPMENT. 
          AND IF WE CAN'T MAKE THEM, IF JIM CAN'T MAKE THE NUMBERS WORK THROUGH UTTERS AND ISAAC DOESN'T SAY, HEY, THIS ISN'T GOING TO IMPACT OUR CITY SERVICES. 
          THEN TO ME, THAT'S THE FIRST WAY TO KNOW THAT IT'S A BAD DEAL. 
          BUT THESE DEALS WE GOT COMING IN, I THINK ARE MINIMAL IN TERMS OF A TWO LANE ROAD, WE'RE DOING 1 30, 2 BUT BILLION OR $2 BILLION IN INVESTMENT. 
          SO I THINK WE'RE GOING TO BE WAY AHEAD OF THE CURVE ON THIS ONE AND, AND EVOLVE AND THE TOURIST CONCEPT. 
          UM, WELL IT WASN'T ON THE TOPIC TO FULLY EXPLORE IT. 
          IT CAN BE A WHOLE, A WORK SESSION ON ITS OWN. 
          IT'S, IT'S BECOME A RE ENERGIZED AND USE FOR TWO PURPOSES. 
          ONE FOR TYPICALLY LIKE EXACTLY WHAT YOU'RE DOING HERE. 
          AND WE'VE DONE A NUMBER OF THESE, UM, UH, CITIES, UM, THAT HAVE VERY DISMISSIVE FREQUENCY SEEM TO BE A COMMON OCCURRENCE. 
          RECENT. 
          I HAVE A NUMBER OF CLIENTS WITH BIG INDUSTRIAL PARKS THAT HAVE BIG INFRASTRUCTURE COMMITMENTS TO, UM, YOU KNOW, I'VE GOT SOMEONE THAT'S GOT 15 MILLION SQUARE FOOT DISTRIBUTION CENTERS THAT COMES IN AND NEEDS MASSIVE INFRASTRUCTURE. 
          HOW DO YOU MAKE THAT WORK? THE NUMBERS ARE GOING TO BE THERE, BUT THAT'S THESE KIND OF WILLING TO TAKE IN FINANCING. 
          AND WHAT TERMS DOES LIKE DO YOU LOOK AT AND SAY HOW MUCH RALLIES HERE? AND, UM, THE PROCESS WOULD GO FORWARD IS WHAT IS A SERVICE LEVEL. 
          NOW IN THAT CASE TO ACTUALLY AFTER CONSTRUCTION WILL BE VERY FEW ACTUAL EMPLOYEES THERE. 
          MOST OF IT WON'T HAVE SOME OF THE SAME INTENSITY AS THE REST OF THE COMMUNITY WOULD HAVE FOR PUBLIC SAFETY. 
          THEY ACTUALLY PROVIDE SOME SPECIAL PUBLIC SAFETY FOR FIRE FOR THE FACILITIES. 
          UM, BUT MOST OF IT'S INFRASTRUCTURE COSTS. 
          SO YOU CAN LOOK AT WHAT YOUR ALLOCATED, 
          [01:20:02]
UM, INCREMENTAL OPERATING COST WOULD BE AND SAY, YOU KNOW, THEY MIGHT NOT NEED ALL THEIR TAX RATE, BUT CAN WE TAKE AND CONCENTRATE THAT VALUE AND USE TO PAY OUR DEBT SERVICE? AND THE SECOND BIG THING ABOUT IT IS THAT, UM, AND I THINK YOUR PROJECTS, UH, SHOULD JOIN, SHOULD RIGHTFULLY BE CONSIDERED. 
          UM, I WAS OUT FINANCING THAT WE'RE DOING NEXT WEEK. 
          UM, THERE'LL BE A 50% TOURIST PARTICIPATION IN THAT PROJECT BY THE COUNTY. 
          UM, IT'S, IT'S CONSIDERED, UM, A REGIONALLY IMPORTANT ECONOMIC DEVELOPMENT PROJECT THAT WILL IMPROVE NOT JUST THAT, UM, ECONOMIC FOR THAT CITY, BUT FOR THE OVERALL COUNTY. 
          AND THEY PARTICIPATED IN THAT PROCESS. 
          UH, AND THIRD, YOU KNOW, IN A HIGHLY TECHNICAL AND, UH, DEFER TO YOUR CHIEF FINANCIAL OFFICER, BUT STATE NOW HAS SOME LIMITATIONS AT HOW WE GENERATE REVENUE IN A TOUR'S ACTUALLY HELPS US, UH, WORK, UM, CREATIVELY TO RESOLVE, UH, AND ABSORB SOME VALUE AND NOT HAVE US HURT US IN OUR TAX RATE CALCULATIONS IN THAT PROCESS. 
          BUT IT'S TH THOSE ARE ALL THINGS THAT WOULD BE PUT IN PLACE. 
          YOU GO FORWARD IN SUMMARY, WE'VE GOT 80 MILLION AND WE HAVE A LOT OF DIFFERENT OPTIONS. 
          AND, AND AS I INDICATED BEGINNING, YOU KNOW, IT'S NOT A PLAN. 
          IT'S MORE JUST KIND OF START TO SEEING TO SAY, AS YOU MOVE FORWARD, UM, THIS IS A SIGNIFICANT AMOUNT OF INFRASTRUCTURE THAT WILL BE NEEDED, NOT ALL IN TIME, BUT WE THINK CREATIVELY AND, AND MY EXPECTATION EXPECTATIONS, WE'LL BE ABLE TO FUND IT, UM, WITHOUT COSTING YOUR CITIZENS HERE, UH, ANY MONEY. 
          WELL, AND I, I THINK THAT WE'RE AT A POINT NOW THAT WE'RE GOING TO HAVE TO DO SOMETHING BEGIN TO START TAKING ME TO THAT START PUSHING THAT VOLUME 40 EVEN FASTER BECAUSE OF THE FACT THAT AS WE BEGIN TO START WRAPPING UP SOME OF THESE PROJECTS THAT WE'RE LOOKING AT AND GET INTO THE POINT THAT, OKAY, THEY'RE GOING TO SIGN ON THE DOTTED LINE, WHICH MEANS THAT NOW THAT'S THE WORK THAT'S WHEN THE WORK BEGINS. 
          I MEAN, MA'S BEEN DOING WORK TO GET THEM THERE, BUT WHEN THEY FINALLY SIGN AND SAY, YES, WE'RE GOING TO DO IT. 
          WE'RE DONE. 
          THEN AT THAT POINT IN TIME, WHEN WE HAVE TO BE ABLE TO HAVE THAT BONDING CAPACITY AND AT LEAST ISSUE THOSE BONDS TO BE ABLE TO HAVE SO THAT WE CAN BEGIN TO START THAT INFRASTRUCTURE, WATER, WASTEWATER ROADS, WHICH IS GOING TO HAVE TO BE IN THAT PROJECT. 
          I MEAN, IT'S GOING TO HAVE TO BE IN THAT DEVELOPMENT THAT WE'RE DOING. 
          SO I THINK WE'RE TO THE POINT NOW THAT WE REALLY NEED TO START PUSHING THAT BALL FORWARD, LOOKING AT THE TOURS, I THINK, AND THEN ALSO WITH THE SELL OF THE LAND, WHICH I THINK WILL HELP TO OFFSET SOME OF THE COSTS, BECAUSE I DON'T HAVE THE BONDS THAT WE HAVE ON THAT MEGASITE PROPERTY IS NOT CALLABLE UNTIL I THINK 20, 28. 
          SO, WHICH MEANS THAT WE'VE GOT TO HAVE THAT CASH SITTING THERE, WHICH WE CAN USE TO BE ABLE TO OFFSET SOME COSTS POTENTIAL ALSO, UH, IN, IN ALONG THAT SAME LINE. 
          SO I THINK THAT WE'VE GOT SOME OPTIONS THAT WE CAN TAKE A LOOK AT, BUT WE CAN'T WAIT FOR THE SALE OF THE LAND IN ORDER TO BE ABLE TO START MOVING FORWARD. 
          WE NEED THAT DOWN. 
          SO WE CAN AT LEAST BEGIN TO START THE ENGINEERING WORK, MOVING SOME DIRT, DOING SOMETHING LIKE THAT, GETTING READY FOR IT, BECAUSE I MEAN, THE, THE TITAN PROJECT IS ONE THAT WE'RE LOOKING AT RIGHT NOW THAT THEY'RE READY TO START GOING. 
          THEY'RE READY TO STARTED TURNING DIRT, BUT WE GOTTA BE ABLE PROVIDE THINGS TO THEM. 
          SO I THINK IT'S SOMETHING WE REALLY NEED TO START PUSHING PRETTY HARD TO GET THAT TOUR'S DONE SO WE CAN, UM, BRING IT BACK TO THIS BOARD APPROVAL SO WE CAN GET IT TO THE COUNCIL ALSO WELL, BORED WHEN YOU, WHEN YOU'RE READY. 
          UM, I THINK, UH, THE TEAM KNOWS HOW TO GET AHOLD OF ME AT 90 TO 120 DAYS FROM THE INITIATION OF LET'S MOVE FORWARD TO HAVE FUNDING IN THE BANK. 
          UM, UH, THE TIMEFRAME IN THE PROCESS AND GEORGE, MY UNDERSTAND IS THAT THAT WOULD HAVE TO BE A VOTE BY THIS BOARD IN ORDER TO INITIATE THAT. 
          SO THEN 120 DAYS, WE CAN HAVE A BOND ISSUANCE TO HAVE THAT MONEY READY AVAILABLE, AND THAT WOULD BE AN EXPENDITURE THAT THE CITY COUNCIL WOULD ALSO HAVE TO APPROVE. 
          AND SO WE COULD SCHEDULE IT SO THAT IT COULD BE THIS BOARD, THEN CITY COUNCIL WORKS THROUGH. 
          THE OTHER THING IS, UH, WHAT THE REFUNDING BOND WOULD BE. 
          I MEAN, UM, THE OUTSTANDING ISSUE HAD, UM, EXTENDED CALL DATE. 
          AND WHEN AS INTERFACE WERE LOWER, YOU KNOW, WE'D HAVE TO FUND THE GOVERNMENT ESCROW RIGHT NOW. 
          IT WOULD HAVE NEGATIVE ARBITRAGING WITH THE HIGHER INTEREST RATES. 
          UM, AND SO THERE'S NOT A FINANCIAL REASON THAT BENEFIT FROM IT. 
          THERE COULD BE A STRATEGIC REASON IF WE WANT TO CHANGE COVENANTS, BUT RIGHT NOW WE'RE GONNA HAVE TO GRIN AND BEAR IT. 
          YOU KNOW, THERE WAS NO, UH, THOUGHT AT THAT TIME, UH, TO PUT INTO SPECIAL CALL FEATURES TO ALLOW YOU TO DEAL WITH IT. 
          WE WON'T DO THAT AGAIN, BUT WITH THAT, THAT'S ONE WE HAVE TO LIVE WITH AT THE MOMENT. 
          UM, ANOTHER STRATEGY W DURING THAT 120 DAY PERIOD, IF WE DID A REIMBURSEMENT RESOLUTION, WOULD IT ALLOW US TO USE THOSE FUNDS TO REIMBURSE EXPENSES OUT OF OUR POCKET IN THE MEANTIME, UM, FOR THOSE, UM, WHEN WE SHOULD TAX THEM FOR INFRASTRUCTURE, UM, PART OF THE PROCESS, OUR BOND COUNCIL GIVES US AN I R A S OPINION SETS. 
          THESE ARE TAX EXEMPT BONDS, AND, UM, PRI THE RULES HAVE BEEN PUT IN PLACE, UM, IN 1980 OR SO TO SAY, YOU HAVE TO SPECIFICALLY DESIGNATE WHAT YOU WANT TO SPEND THE MONEY FOR AND TO REIMBURSE YOURSELF PRIOR TO THAT, SOMEBODY MIGHT SAY, HEY, AT THE END OF YEAR, MY BUDGET, WASN'T LOOKING GOOD. 
          I NEED TO ISSUE A MILLION DOLLARS FOR SOMETHING SO I CAN FLOAT SOME HIGHER CASH POSITION. 
          SO WHAT A REIMBURSEMENT TO ME, AGREEMENT RESOLUTION, THAT'S TWO THINGS. 
          ONE, IF WE DO SOMETHING INFRASTRUCTURE ALLOWS YOU TO SPEND 
          [01:25:01]
CASH ON HAND, CHLOE STATES THAT THAT, THAT IS MEANT TO BE SPENT AND BE REIMBURSED FOR A BOND ISSUE, UM, YOU KNOW, UP TO SIX A MONTH OR SO IN THE FUTURE, YOU, YOU, UH, AS I TELL CLIENTS, YOU KNOW, IF WE ARE, DO A BOND ISSUE AND WE, WE DO AN ANTICIPATION THAT LET'S SAY HYPOTHETICAL UV, $400,000 OF ENGINEERING EXPENSE, WE CAN DO IT FOR UP TO $400,000 A MONTH LATER, YOU FIND THAT YOU NEED TO KNOW 200, ALL YOU CAN ADD TO IT, BUT IT'S DESIGNATE THAT. 
          AND THE SECOND THING IS, UM, WHICH I THINK IMPORTANT TO THIS BOARD AND, AND TO THE CITY COUNCIL, IT SHOWS A CLEAR, UM, UH, DOCUMENTATION OF WHAT THE INTENT WAS, YOU KNOW, THAT, THAT MONEY WAS SPENT TO DO SOMETHING WHAT TAKES PLACE AND IT'S DONE. 
          SO, YOU KNOW, WE, WE WOULD SAY THAT, UM, PART OF THE PROCESS THAT THAT TIMEFRAME WOULD BE THAT THE, UH, THE BOARD, UH, HAS TO PUBLISH A NOTICE THAT THEY'RE GOING TO UNDERTAKE A PROJECT THE NIGHT THAT THEY APPROVE THE PUBLICATION OF THAT NOTICE, WE WOULD DO THE REIMBURSEMENT FOR ANY ELIGIBLE COSTS AT THAT TIMEFRAME. 
          AND THEN, UH, AS COUNSEL INDICATED, UH, AS A BOARD STATE STATUTE SAYS THAT, UH, THE CITY COUNCIL HAS TO APPROVE YOUR BUDGET AND YOUR DEBT ISSUANCE. 
          AND, UM, SO WHAT HAPPENS THAT WE'D LINE UP THE PROCESS WHERE DO A PRESENTATION, UH, TO ALLOW THEM THE COUNCIL KNOW THAT YOU'RE UNDERTAKING A PROJECT AND TO TELL THEM THAT, YOU KNOW, 60 DAYS FROM NOW WE'RE GOING TO BE ISSUING BONDS. 
          AND THE EXPECTATION WOULD BE THAT THERE'LL BE BACK-TO-BACK BOARD AND COUNCIL MEETINGS WHERE THE BOARD APPROVES THE, THE BOND SALE, UH, AND IT SIGNS A LEGAL DOCUMENTS TO DOCUMENT THAT. 
          AND IMMEDIATELY THEREAFTER AT A COUNCIL MEETING, UM, THE COUNCIL, UH, BY RESOLUTION APPROVES THAT, AND, AND THAT'S ALL SUBMITTED TO THE ATTORNEY GENERAL APPROPRIATELY. 
          UM, FOR INSTANCE, TONIGHT THERE'S FIVE O'CLOCK BOARD MEETING AND A SEVEN O'CLOCK COUNCIL MEETING. 
          UH, TRADITIONALLY THEY HAVE TO BE DONE SAME DAY, UM, MARKET TAKE ALL MARKET VARIANCE OUT OF IT. 
          WE NEED TO HAVE BOTH APPROVALS ON THE SAME DAY, JUST CALL IT JOINT MEETING, EXCUSE ME, WE'D PROBABLY JUST CALL IT JOINT MEETING. 
          IF I WENT TO THE CHAIRMAN, I'D GET, I'D GET A SONIC, CAUSE WE KNOW WE NEED WATER. 
          WE KNOW WE NEED WASTEWATER. 
          AND WE KNOW AT SOME 0.1 32 HAS GOT TO BE BUILT, RELOCATED, AND WE CAN WORK WITH THE COUNTY, BUT YEAH, THE SOONER WE GET GOING, THE BETTER TO HAVE A PLAN NOW. 
          AND YEAH, I WAS GOING TO ASK IF YOU'D BE PRUDENT TO GO AHEAD AND, AND HAVE STAFF AGAIN AND START WORKING WITH JIM, UH, WITH BOB AND GEORGE AND ALSO ANGIE FOR AVAILABLE TO START GETTING THOSE DOCUMENTS READY. 
          CAUSE WE CAN ALWAYS HAVE A BOARD MEETING CALLED, UH, WITH THE COUNCIL, BUT IF WE HAVE TO HAVE A BOARD MEETING TO DO THE PRESENTATION OF WHAT IT'S GOING TO LOOK LIKE, KIND OF THE DETAILS I, WHICH WE CAN GET INTO JUST TO HAVE THAT DISCUSSION, BUT THEN HAVING A MEETING WITH THE COUNCIL AND COORDINATE THAT WITH THE COUNCIL SO WE CAN GET THAT DONE. 
          AND I THINK FROM TIME EXPECTED, THE KEY IS FOR THIS BOARD TEST BEING. 
          SO THEY ACTUALLY CAN PUBLIC TO NOTICE. 
          AND IF I'M CORRECT, I BELIEVE IT'S A 60 DAY NOTICE TIMEFRAME THAT HAS TO GO. 
          YEAH, THE, THE NOTICE REQUIREMENT, ISN'T A PUBLICATION IN A NEWSPAPER, BUT IT'S JUST THE PUBLIC NOTICE LIKE TODAY WE HAD TWO PUBLIC HEARINGS. 
          ONE OF THEM IS THE MEGA LAND PROJECT, WHICH DOES INCLUDE WATER WASTEWATER AND ROADS TO THE MEGA SITE, WHICH IS EXACTLY WHY WE'RE TALKING ABOUT THIS RIGHT NOW. 
          AND THAT'S A 68 NOTICE TIMEFRAME. 
          THAT'S THE ONE 60 TIMEFRAME AND 60 DAYS FOR OBJECTION, 10%. 
          AND SO, UM, THAT'S REALLY THE CRITICAL, UM, THEN WHAT WOULD TAKE PLACE WOULD BE, UM, AT A CONVENIENT TIME, IT DOESN'T HAVE TO BE SIMULTANEOUS, BUT AFTER YOU APPROVE THAT AT THE NEXT REGULAR SCHEDULED MEETING TO DO THE PRESENTATION, UH, AND THEN WHAT WOULD TAKE PLACE WOULD BE, THEY WOULD PICK EITHER A, GENERALLY A REGULAR SCHEDULED, UM, COUNCIL MEETING, SPECIAL BOARD MEETING AFTER THE 60 DAYS. 
          AND THAT'S WHEN WE ISSUE BONDS. 
          AND IN BETWEEN WE WOULD GO THROUGH THE PROCESS OF OFFERING DOCUMENTS, RATINGS, MARKETING, THE BONDS, AND, UH, BRING A BID, UM, FOR THE BOND STAND PROCESS. 
          SO THAT'S WHERE, UM, LIKE I'VE TALKED ABOUT 90 OR SO DAYS TO ISSUE THE DEBT TOURNEY GENERAL TAKES 30 DAYS TO APPROVE IT. 
          IT SAID 90 TO 128 TIMEFRAME. 
          AND I DON'T KNOW WHAT THE CONSENSUS OF THE COUNCIL, I'M SORRY THE BOARD IS, BUT, AND WHILE I AGREE THAT, YOU KNOW, IN THE LONG RUN, THE, THE RATE WHILE IMPACTFUL NOW IN THE LONG RUN, IT'S STILL, I MEAN, YOU GOTTA DO IT, BUT YOU KNOW, IF I CAN GET IT AT, YOU KNOW, 4.8, AS OPPOSED TO 5.3, I'D LOVE TO BE ABLE TO DO THAT AS OPPOSED. 
          SO, YOU KNOW, SO I THINK THAT, THAT'S WHAT I'M SAYING. 
          I THINK WE PROBABLY NEED TO START LOOKING AT MOVING A LITTLE SOONER THAN LATER TO GET THIS DONE. 
          SO I DON'T KNOW IF THERE'S ANY HESITATION ON THE BOARD, IF NOT, THEN I WOULD PROBABLY JUST SAY THAT WE PROBABLY WOULDN'T JUST SEE WHAT THAT'S GOING TO LOOK LIKE AND HAVE, UH, JIM WORK WITH THE CITY STAFF AND ALSO WITH GEORGE TO TRY TO SEE WHAT THAT'S GONNA LOOK LIKE AND BRING IT BACK TO THE BOARD. 
          W AT ONE POINT I MAKE MAYOR IS THAT YOU HAVE GENERAL PUBLIC, EVERY PERSON OVER THERE. 
          I APOLOGIZE. 
          UM, BUT YOUR NOTICE IS THAT NOT TO EXCEED NOTICE, 
          [01:30:01]
IT TALKS ABOUT A GENERAL LIST OF PROJECTS, TYPES AND DOLLAR AMOUNT. 
          AND, UM, AND OF THE OTHER CORPORATIONS WHO ANTICIPATE THIS EFFORT, INTEREST RATE WAS BUYING AND PLAY WITH A COUPLE OF PIECE OF PROPERTY AND SOME ARE STRUCTURED. 
          SO WE ACTUALLY DID A, LIKE A $20 MILLION PROPOSED PROJECT, BUT WE CAN BRING IT DOWN WHEN THEY DECIDE EXACTLY WHAT LAND AND THEY IDENTIFIED THE PROCESS. 
          SO YOU GENERALLY LIKE TO KNOW EXACTLY WHAT I'M GOING TO DO, BUT I'VE LEARNED IN LIFE. 
          SOMETIMES YOU HAVE TO BE FLEXIBLE. 
          AND SO YOU COULD DO, UM, I NOTICED THAT YOU WERE UNDERTAKE AND KIND OF WORK THROUGH THE DETAILS THERE IN THAT 68 TIMEFRAME. 
          SO YOU GET EXACTLY WHAT YOU WANT TO DO AND MAKE DECISION IF YOU WANTED TO MOVE QUICKLY. 
          UM, IT'S NOT UNCOMMON, BUT IT JUST SEEMS THIS YEAR HAS BEEN A BUSY YEAR FOR PEOPLE TO GET, GET IT GOING AS FAST AS POSSIBLE AND EVERYTHING. 
          OKAY. 
          I THINK FOR THE QUESTIONS FOR JIM, CAN I MAKE ONE MORE QUICK COMMENT? UM, OBVIOUSLY WE'RE WORKING THROUGH EACH ONE OF THESE PROJECTS NOW, WHICH IS OBVIOUSLY HOW WE GOT TO SOME OF THE NUMBERS ON INFRASTRUCTURE, BUT SOME OF THESE THINGS ARE SEQUENCED. 
          AND SO I LIKE TO KIND OF GET A SCHEDULE TOGETHER HERE IN VERY SHORT ORDER SO THAT WHEN WE REPORT BACK TO YOU, NOT ALL THIS STUFF HAS TO BE DONE AT THE SAME TIME AND SAME DAY BECAUSE THESE PROJECTS ARE TEED UP AT DIFFERENT INTERVALS. 
          SO I THINK BEFORE WE GET TOO FAR INTO THE STRUCTURE OF ALL OF THE ULTIMATE FINANCING, WE JUST THOUGHT TO KIND OF PRIORITIZE AND RANK OR THE VARIOUS THINGS THAT WE HAVE AND MAKE SURE THEY FIT THE SCHEDULE, THE CLIENTS, AND SO ON AND SO FORTH, WHICH WE CAN DO PRETTY QUICKLY. 
          THAT WORKS. 
          THANK YOU, JIM. 
          APPRECIATE IT. 
          THANK YOU. 
          ALL RIGHT, LET'S MOVE ON TO AGENDA ITEM 8.1 EXECUTIVE SESSION. 
          THE BOARD WILL NOW RECESS THE OPEN MEETING. 
          OPEN SESSION MEETING RECONVENED EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODE SECTION 5 5 1 0 8 7 ECONOMIC DEVELOPMENT, SECTION 85 5 1 0 7 1 ATTORNEY SECTION 5 5 1 0 7, 2 REAL PROPERTY TO DELIBERATE AND SEEK ADVICE. 
          IT WAS LEGAL COUNSEL REGARDING PROJECT ACROPOLIS PROJECT E PROJECT DAM, PROJECT R2D2 PROJECT MEGASITE TITAN UPDATE ON OPTIONS TO PURCHASE LAND NEGOTIATIONS. 
          THE CITY OF HUDDLES REQUESTS FOR EASEMENTS ON CORPORATE OWNED PROPERTY, THE TREE LIKE KRUEGER, AVERY TRUST OPTION FOR THE PURCHASE OF LAND ASSIGNMENT, AND AN UPDATE ON RA TWO OR TWO PETITION IN THE MATTER OF EGON RENTAL CORPORATION TYPE B VERSUS BCL, TEXAS CAUSE NUMBER 22 DASH 0 1 2 8. 
           IN THE 425TH JUDICIAL DISTRICT COURT OF WILLIAMSON COUNTY. 
          THE TIME IS 8 0 3. 
          WE'LL GO INTO EXECUTIVE SESSION. 
          THE TIME IS NOW 9 23. 
          UH, WE EXITED OUT OF EXECUTIVE SESSION. 
          NO ACTION WAS TAKEN IN EXECUTIVE SESSION. 
          MOVE ON TO ITEM NINE, ONE DISCUSSING CONSIDERATION TO APPROVE AN ASSUMPTION ASSIGNMENT AGREEMENT WITH TITAN MEGA LAND INVESTMENT LLC, UM, TO ACQUIRE THE CORPORATION CERTAIN OPEN CERTAIN OPTION AGREEMENT DATED APRIL 28TH, 2016 HAS THEREFORE AMENDED AN EXTENDED THE AGREEMENT FOR THE RIGHT TO PURCHASE REAL PROPERTY CONTAINING APPROXIMATELY 43 POINT 908 ACRES LOCATED WITHIN THE MEGASITE WILLIAMSON COUNTY APPRAISAL RECORDS NUMBER R 0 2 0 9 1 5 IN A FORM SUBSTANTIALLY SIMILAR IN UNDER THE SAME TERMS AS A PRIOR ASSUMPTION OF SEVEN AGREEMENTS NEGOTIATED WITH THE PURCHASER FOR ADJACENT LAND AND AUTHORIZED THE BOARD CHAIR TO EXECUTE THE AGREEMENT, ANY, UH, DISCUSSION MOTION. 
          I MAKE A MOTION TO APPROVE IN THE ASSUMPTION THAT ARE PRESENTED. 
          MOTION SECOND, ANY FURTHER DISCUSSION ROLL CALL PLEASE. 
          WE'RE IN A CLERK BOARD MEMBER BOARD MEMBER, MIKE SNYDER, CHAIRMAN MIKE HARRIS, MENDEZ AND BOARD MEMBER, ERIN CLANCY, SECRETARY CHENEY, KIMBELLA MOTION CARRIES FIVE ZERO ITEM NINE TO DISCUSS YOUR CONSIDERATION TO DIRECTLY OR COUNSEL TO OPERATE WITH AND COORDINATE THE NECESSARY EASEMENTS FOR PUBLIC UTILITIES AND NECESSARY IN THE AREA OF THE MEGA SITE ON CORPORATE PROPERTY AND TO AUTHORIZE THE BOARD CHAIR TO EXECUTE ANY RIGHT OF ENTRY DOCUMENTS AND PRE BY GENERAL COUNSEL AS TO FORM AND PRESENT ANY NECESSARY POSSESSION AND USE AGREEMENTS OR EASEMENT AGREEMENTS TO THE BOARD FOR FINAL APPROVAL. 
          ONCE FINALIZED ANY DISCUSSION MOTION WOULD BE AN ORDER. 
          I'LL MAKE A MOTION TO DIRECT LEGAL COUNSEL TO COOPERATE AND COORDINATE WITH THE NECESSARY EASEMENTS FOR PUBLIC UTILITIES NECESSARY IN THE AREA OF THE MEGASITE ON CORPORATE PROPERTY AND AUTHORIZE THE BOARD CHAIR TO EXECUTE HAS PRESENTED FEEL MOTION SECOND, ANY FURTHER DISCUSSION ROLL CALL PLEASE. 
          BOARD MEMBER, MIKE SNYDER, BOARD MEMBER, AARON CLANCY, 
          [01:35:01]
BOARD MEMBER RANDALL CLERK, CHAIRMAN MIKE HARRISON, MENDEZ, SECRETARY CHENEY, GUMBO. 
          WELL, SHE CARRIES FIVE-ZERO THERE BEING NO FURTHER BUSINESS FOR THIS BOARD. 
          THE TIME IS NOW 26 AND WE'RE ADJOURNED.
* 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.