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TIME[(EDC) Board Meeting/(CDC) Board Meeting]
IS NOW 6 31.WE'LL BRING THE, UM, MEETING OF THE HUDDLE DEVELOPMENT CORPORATION, TYPE A AND TYPE B TO ORDER ME ROLL CALL PLEASE.
PRESENT VICE CHAIR DON CARLSON.
AND BOARD MEMBER COLEMAN PRESENT.
WE'LL MOVE ON TO PLEDGE OF ALLEGIANCE.
PLEDGE OF ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA.
AND TO THE REPUBLIC FOR WHICH IT SAYS, ONE NATION UNDER GOD, INDIVISIBLE, THE LIBERTY AND JUSTICE FOR ALL.
I PLEDGE ALLEGIANCE TO THE TEXAS STATE ONE.
WE'RE NOW MOVE ON TO, UH, AGENDA ITEM NUMBER FOUR, PUBLIC COMMENT.
ANYONE WISHING TO SPEAK TO THE BOARD OF DIRECTORS, UH, OF THE HUDDLE? WE CORPORATION TYPE A, TYPE B.
WE WILL ALLOW YOU THREE MINUTES TO SPEAK.
WOULD LIKE TO STATE YOUR NAME THERE BEING NONE.
ECONOMIC, UH, DIRECTOR'S REPORT UPDATE ON SMALL BUSINESS GIFT CARD PROGRAM.
WE'RE GONNA TAG TEAM THIS A LITTLE BIT IN THE ORDER IN WHICH THESE ITEMS ARE HERE.
UH, CHENEY, AS YOU REMEMBER, WAS THE, UH, PERSON WHO GOT THE INTEREST GOING FOR THE SMALL BUSINESS CHARGE PROGRAM.
SO SHE'S GONNA GIVE THE FIRST UPDATE.
SO THE GIFT CARD PROGRAM IS LIVE.
THEY DID A SOFT LAUNCH THIS WEEKEND AT THE CHRISTMAS FAIR DOWNTOWN.
UM, WE HAVE EIGHT BUSINESSES SIGNED UP AND IT WILL BE OFFICIALLY ANNOUNCED IN THE HEY HUDDLE NEWSLETTER TOMORROW.
UM, BUT ANYONE CAN GO ON AND BUY THE GIFT CARDS NOW.
SO IF ANYONE ON PUBLIC IS WATCHING, IT'S WWW DOT YY AND THAT'S Y I F T E E.COM.
AND YOU CAN JUST SEARCH HATO TEXAS AND YOU'LL WANT CLICK ON THE SHOP HU CARD.
SO WE'RE EXCITED TO SEE HOW THAT GOES.
YAY, JENNY, WHAT KIND OF MARKETING? WHEN WE TALKED LAST MONTH, WE TALKED ABOUT, UM, IT WOULD BE OUT BEFORE THE HOLIDAYS.
WHAT KIND OF MARKETING HAVE WE DONE SO FAR FOR THE PUBLIC TO KNOW THAT THEY NEED TO BE BUYING THESE? SO THE PUBLIC HASN'T BEEN MADE AWARE OTHER THAN THE SOFT LAUNCH AT THE CHRISTMAS FAIR ON SATURDAY.
I KNOW CHRISTIE AND HER TEAM WERE DISCUSSING THAT, AND THEY'VE ALSO REACHED OUT DIRECTLY TO DOWNTOWN BUSINESSES.
THEY WANTED TO GET BUSINESSES ON BOARD PRIOR TO LAUNCHING IT SO THAT THE CUSTOMERS WOULD HAVE MORE CHOICES TO SPEND THE CARDS AT.
SO, UM, THE HEY HUDDLE WILL BE THE FIRST PUBLIC ANNOUNCEMENT FOR THAT.
IS THERE ANY WAY WE COULD BRING THAT TO THE CHRISTMAS PARTY ON FRIDAY TO GET THE WORD OUT TO? YOU'LL HAVE A BUNCH OF BOARDS AND COMMISSIONED PEOPLE, HOPEFULLY ATTENDING AND MAYBE CAN BUY CARDS THERE IF THEY WANT.
MOVE ON NOW TO UPDATE OF CURRENT IN PROGRESS DEVELOPMENT PROJECTS.
UM, COUPLE THINGS, JUST SOME CONTEXT BEFORE WE TALK ABOUT THE STUFF THAT'S CURRENTLY THERE.
DURING THE COURSE OF THE YEAR, THE 2022 YEAR, WE'VE LOOKED AT ABOUT 75 PROJECTS SPECIFICALLY WITH HATO AS ONE OR MORE OF THE POTENTIAL DESTINATIONS.
AND AS WE'VE GONE THROUGH THE COURSE OF THE YEAR, SOME OBVIOUSLY THOSE GET DEFERRED, SOME MOVE ELSEWHERE.
UM, BUT WE'VE USUALLY WOUND UP WITH ABOUT 15 OR 20 THAT HAVE STAYED PRETTY ACTIVE, UM, AT ANY ONE TIME AND HAVE HATO AT LEAST AS A MAJOR POINT OF FOCUS.
THAT NUMBER'S ACTUALLY EXPANDING SOME BECAUSE WE'RE ALSO GETTING MORE RETAILERS NOW AS PART OF THE DEAL, AS OPPOSED TO WHAT WAS ORIGINALLY MOSTLY AN INDUSTRIAL, UM, COMMERCIAL GROUP.
SO I DON'T SEE THAT REALLY SLOWING DOWN VERY MUCH, UM, IN THE NEAR TERM.
UM, AND IN FACT, NEXT WEEK AND THE WEEK AFTER, UH, CHRISTMAS, WE ACTUALLY HAVE THREE OTHER SITE VISITS FROM VARIOUS SUPPLIERS SLASH RESTAURATEURS, ET CETERA.
SO WHEN, THIS IS TYPICALLY A SLOW TIME FOR, FOR MOST, UH, COMMUNITIES AND MOST EDCS, BUT, UH, WE DON'T SEEM TO HAVE HIT THAT PEAK JUST YET.
I'M, I'M SURE WE WON'T HAVE A BIG CHRISTMAS WEEK.
BUT OTHER THAN THAT WE'VE BEEN REMAINING QUITE, QUITE BUSY.
WE'RE SEEING RESTAURANTS, ENTERTAINMENT, UM, WE'RE SEEING SMALL TO MID-SIZE MANUFACTURERS THAT ARE SORT OF CONSISTENT WITH WHAT WE'VE SEEN OVER AT THE INNOVATION CENTER.
UM, AND NOW WE'RE STARTING TO SEE A LITTLE BIT LARGER CLIENTELE BASED MOSTLY ON, ON SAMSUNG RELATED WORK, UM, AND SOME FOR TESLA.
SO, UM, AS I SAID, WE'LL GIVE YOU A FULL SALESFORCE UPDATE IN JANUARY.
SO WE CAN GO BACK AND LOOK AT WHERE WE STARTED AND WHERE WE ARE NOW.
AND TO PUT THAT NUMBER IN SOME PERSPECTIVE, GENERALLY THE AUSTIN REGION SEES A COUPLE HUNDRED TO MAYBE 300 PROJECTS IN
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A GIVEN YEAR.SO OUR PERCENTAGE OF LOOKS I THINK HAS CONTINUED TO GO UP AS THIS PART OF THE, OF WILLIAMSON COUNTY GETS BETTER KNOWN.
UM, AND THEN TONIGHT, AS YOU KNOW, WE HAVE A, A, A NUMBER OF THINGS THAT KIND OF GO THROUGH THE FUNNEL AND GET DOWN TO A POINT WHERE SOME ACTION IS POSSIBLE AND, AND, UH, REQUIRED ON OUR PART.
SO WE'LL HAVE A, A NUMBER OF THOSE TO TALK ABOUT TONIGHT IN EXEC SESSION.
ANY QUESTIONS FOR BOB? AGENDA ITEM 5.3.
CORPORATE EFFORTS APPLY TO EXISTING BUSINESS RETENTION PROMOTION OF HU FOR ECONOMIC GROWTH AND RELATED MARKETING EFFORTS.
SO WITH CHANEY'S ARRIVAL, WE'VE HAD A CHANCE TO DO SOMETHING WHOA, LIKE PUT THE, PUT THE MICROPHONE IN THE STAND.
UM, AND SO WE'VE STARTED THAT EFFORT WITH, WITH A LOT MORE FOCUS.
UM, THE GOOD NEWS AGAIN, IS MANY OF THOSE BUSINESSES ARE RESPONDING TO THE SAME DYNAMICS IN THE ECONOMY AS A WHOLE.
SO WE NOW HAVE TWO SPECIFIC MEETINGS WHERE LOCAL COMPANIES AND MANUFACTURING SECTOR ARE CONTEMPLATING EXPANSION, BOTH IN TERMS OF EMPLOYMENT AND THE PHYSICAL BUILDINGS THAT THEY'RE IN.
UM, AND I EXPECT SOME OF THAT TO INCREASE IN THE NEW YEAR AS WE GET OUT IN FRONT OF MORE AND MORE, UH, FOLKS.
BUT AGAIN, WE HAVEN'T SEEN MUCH OF A SLOWDOWN, UM, IN THE ECONOMY IN IN THOSE AREAS.
WE'VE SEEN AREAS THAT MIGHT ADD 30, 40, 50 JOBS TO A 150 PERSON BASE.
SO THERE APPETITE FOR GROWTH IS GOOD STILL.
UM, AND AS WE GET INTO THE, THE NEW YEAR AND THOSE VISITS ARE COMPLETED, WE SHOULD HAVE A MUCH BETTER PROFILE TO OFFER YOU GUYS.
IN TERMS OF WHAT WE'RE SEEING, WHAT THE MAJOR IMPEDIMENTS ARE, WE KNOW WORKFORCE IS ONE OF THOSE AND EVERYBODY'S STRUGGLING WITH THAT NO MATTER WHERE THEY ARE IN THEIR GROWTH CYCLE.
SO WE DID HAVE A WORKSHOP HERE WITH THE, UH, WORKFORCE DEVELOPMENT BOARD, UM, ABOUT WHAT, A MONTH AGO, MONTH AND A HALF AGO.
UM, IN ORDER TO BE ABLE TO MAKE SURE THAT OUR BUSINESSES HERE ARE TAKING FULL ADVANTAGE OF NEW PROGRAMS, NEW OPPORTUNITIES THAT ARE BEING ROLLED OUT THROUGH THE STATE AND THE REGION.
AND WE CONTINUE TO, WILL CONTINUE TO HAVE THOSE PROBABLY ON A QUARTERLY BASIS SO COMPANIES CAN COME IN, GET BETTER EDUCATED ON WHAT'S IN THE PIPELINE FROM A, AN EMPLOYMENT, UH, ASSISTANCE STANDPOINT.
UM, AND THAT SEEMS TO BE CERTAINLY THE BIGGEST COMMON DENOMINATOR PROBLEM THAT VIRTUALLY EVERYBODY FACES.
UM, TYPICALLY, YOU KNOW, BUSINESS RETENTION PROGRAMS IN SOME PARTS OF THE COUNTRY ARE OFTENTIMES THE RESULT OF THEY'RE NOT HAVING BEEN MUCH COMMUNICATION BETWEEN A COMMUNITY AND THE BUSINESS BASE.
SO WHAT WE'RE TRYING TO DO FIRST AND FOREMOST IS MAKING SURE THAT WE'RE STAYING OUT THERE ON A REGULAR BASIS AND, AND MAKING THOSE KINDS OF CONTACTS.
SO, UH, SO FAR GOOD NEWS, NO, NO REAL RED FLAGS.
WE'VE HAD A COUPLE OF SMALL THINGS THAT ARE MORE INFRASTRUCTURE RELATED, BUT, UM, ALL THINGS THAT ARE EASILY FIXABLE AND AND HAVEN'T CAUSED PEOPLE ANY GRAVE UH, BUSINESS ISSUES.
BOB, I HAVE A QUESTION FOR YOU.
UM, SO IN THE NEXT QUARTERLY MEETING, UM, WILL THAT BE OFFERED TO LOCAL BUSINESSES AS WELL? YES.
THIS FIRST ONE WAS JUST REALLY TO MAKE SURE WE UNDERSTOOD AS STAFF WHAT PROGRAMS WERE THERE AND THEN WHAT KIND OF FLEXIBILITY THEY HAD IN TERMS OF RESPONDING TO BUSINESSES.
WE ACTUALLY HAD TWO AT THAT WORKSHOP ANYWAY, UH, OR THREE ACTUALLY FROM THE LOCAL COMMUNITY.
BUT WE'RE GONNA EXPAND A NUMBER OF INVITATIONS.
SO IS THERE ANY WAY TO CONNECT THAT FOR LOCAL SYSTEMS? WE, WE HAVEN'T, BUT IT'S AN EASY ENOUGH THING TO, TO ADD TO THE SITE.
AND BY THE WAY, AT LEAST ONE OF THE COMPANIES THAT WAS THERE HAS NOW USED THE, THE VIRTUAL JOB FAIR INDEPENDENTLY, AND THEY, THEY FOUND IT TO BE VERY, VERY, UH, HELPFUL TO THEM.
ANY OTHER QUESTIONS FOR BOB? I APPRECIATE THE WORK THAT CHANNEY HAS NOW BROUGHT ON BOARD BECAUSE I THINK, AS WE TALKED ABOUT IN PREVIOUS MEETINGS AT THE, THE THREE LEGS OF THE ECONOMIC DEVELOPMENT STOOL OR RECRUITMENT, WHICH WE'VE BEEN DOING THAT WORKFORCE DEVELOPMENT AND RETENTION.
SO I'M GLAD THAT WE'RE NOW REALLY KIND OF FOCUSING ON THE RETENTION PO PORTION OF IT FOR THE BUSINESSES.
SO, UH, ITEM 5.4, DISCUSSING CONSIDER ACTION TO DECLARE CORPORATION'S TOP ACCOMPLISHMENTS FROM 2022 FOR HOLIDAY BANQUET.
WELL, THIS IS MORE OF A GROUP EXERCISE IF YOU WANT TO DO IT THAT WAY.
UM, WHAT JAMES HAD ASKED EACH OF THE DEPARTMENTS TO DO IS GIVE THEM SOME ADDITIONAL IDEAS FOR WHAT WERE PERCEIVED TO BE THE BIGGEST ACCOMPLISHMENTS, UM, OF THAT RESPECTIVE DEPARTMENT IN THE, IN THE PREVIOUS YEAR.
OBVIOUSLY FROM WHERE WE SET, UM, BESIDES STAFFING UP, THE, THE BIG ISSUE REALLY WAS TRYING TO GET THE MEGASITE MOVING IN A POSITIVE DIRECTION.
AND, YOU KNOW, AFTER A FEW YEARS OF NOT TOO MUCH CONCRETE ACTIVITY, WE HAVE
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MANAGED TO GET 400 ACRES INTO PRODUCTIVE USE AND PROJECTS MOVING ALONG.WE'VE GOT THINGS THAT WE'LL BE TALKING TO YOU ABOUT ON THE EDC PORTION OF THE PROPERTY, UH, IN MORE DETAIL.
UM, BUT AGAIN, I'M, I'M OPEN TO ANY OTHER THOUGHTS YOU MIGHT HAVE AS BOARD MEMBERS THAT YOU'D LIKE TO MAKE SURE WE SHARE AS STAFF WITH THE, WITH THE FOLKS AT THE CHRISTMAS PARTY.
AND YOU DON'T HAVE TO DO IT RIGHT THIS SECOND, BUT CERTAINLY IF YOU HAVE ANY IDEAS AND WANNA SHARE THEM WITH CHENEY AND I, WE'RE, WE'RE HAPPY TO PUT THOSE ON THE TABLE FOR, FOR FRIDAY.
YEAH, I THINK THAT'S A PROBABLY A GOOD IDEA TO HAVE EVERYBODY HAVE THE OPPORTUNITY TO BE ABLE TO THINK ABOUT IT A LITTLE BIT.
OF COURSE, YOU KNOW, RIGHT OFF THE BAT WE THINK ABOUT, UH, SKY BOX AND THEN, YOU KNOW, UM, UM, TITAN MM-HMM.
BUT THERE'S STILL A LOT OF THINGS I THINK THAT WE'VE DONE THAT MAYBE SOME SOFT, UH, ACCOMPLISHMENTS THAT WE'VE HAD.
YOU KNOW, OF COURSE THE, THE YEAR THAT YOU'VE BEEN WITH US NOW GOING ON A YEAR AND A HALF GOING, I MEAN, WE'VE CERTAINLY BEEN OUT IN THE MARKET A LOT MORE YES.
THAN I THINK, YOU KNOW, THE PUBLIC IDEA OF GETTING OUT IN FRONT OF CUSTOMERS, WHETHER IT'S ICSC OR WHETHER IT'S OTHER EVENTS.
WE'RE GONNA DO MORE OF THAT IN 2023.
UM, IN TERMS OF, UH, SITE SELECTORS AND, AND REAL ESTATE FOLKS, THERE'S SOME UPCOMING FORUMS FOR INDUSTRIAL REAL ESTATE, WHICH WE'LL BE PART OF.
UM, AND AGAIN, PEOPLE REALIZE THERE'S ENOUGH GOING ON ON HOW TO NOW THAT THEY WANT TO REACH OUT AND GET US ON PROGRAMS, WHICH IS VERY HELPFUL.
YEAH, I THINK THE AGGRESSIVE APPROACH THAT WE'RE TAKING IN, EVEN THOUGH AGGRESSIVE IS NOT NEGATIVE IN THIS STANDPOINT, IT'S ACTUALLY WE'RE TRYING TO GET OUT NOW AND TRYING TO HUSTLE AND, AND BEAT THE STREETS OF, OF TRYING TO FIGURE OUT EXACTLY WHO WE CAN BRING IN AND WHO'S INTERESTED.
AND TO THE POINT NOW THAT I THINK THAT WE CAN BEGIN TO START REALLY LAYING SOME GROUNDWORK AS TO WHAT WE WANT IN THIS CITY AND NOT JUST TAKE ANYBODY THAT'S COMING IN.
I MEAN, WE CAN HAVE A KIND OF A, A SET APPROACH ON HOW WE WANNA DO THINGS.
SO, AND BOB, I KNOW WE HAVE A LOT OF JOB GROWTH COMING, RIGHT? WITH THE RECENT PROJECTS THAT WE'VE GOT AND, AND SOME OF THE STUFF WE HAVE IN OUR, OUR PIPELINE MM-HMM.
POTENTIAL JOB GROWTH COMING TO THE AREA WITHIN THE NEXT, AND AGAIN, THERE'RE MAYBE A SLIGHTLY DIFFERENT JOB BASIS THAN WHAT WE'VE HAD MAYBE HISTORICALLY TOO.
MORE TECH, YOU KNOW, MORE HIGH END JOBS, THAT KIND OF THING.
UH, BOB, I JUST WANT TO ADD THAT.
I THINK IT'S ALSO IMPORTANT TO HIGHLIGHT THE DIVERSITY OF THE ACTUAL EMPLOYERS AND EMPLOYEE RELATIONSHIPS.
HOW MUCH OF IT IS HOMEGROWN VERSUS HOW MUCH OF THAT TALENT IS BEING BROUGHT IN BY THE COMPANY.
CUZ IT'LL GIVE THE CITY A LITTLE BIT MORE VESTED INTEREST BECAUSE THEY'RE ABLE TO IDENTIFY.
ANYBODY ELSE? 5.5 CONSIDER, UH, CALENDAR OF EVENTS AND TRAINING OPPORTUNITIES.
ALL RIGHT, SO THIS IS, UM, IN PROCESS, BUT I'M PUTTING TOGETHER, UM, AN EXCEL FILE THAT HAS KIND OF ALL OF OUR EVENTS BIG AND SMALL.
SO IT'LL HAVE THE ICSC EVENTS IN THERE, BUT ALSO OUR QUARTERLY EVENTS AND THINGS LIKE THAT SO THAT WE CAN TRACK THOSE SO THAT WE CAN PLAN FOR NEXT YEAR AND, AND HOPEFULLY ALIGN OUR BUDGET WITH THOSE ITEMS AS WELL AS TO THE OUTCOMES AND WHAT WE SEE IS VALUABLE INVESTMENT AND WHAT WE MAYBE WANNA TRY SOMETHING ELSE WITH.
UM, SO THAT'S GONNA BE ONGOING.
WE'RE ALSO GOING TO START REACHING OUT TO Y'ALL FOR SOME TRAINING OPPORTUNITIES.
SO, UM, I DON'T KNOW IF SOME OF YOU'LL REMEMBER SEVERAL MONTHS BACK, WE ACTUALLY DID GET APPROVED, UM, TO PURCHASE AN ED 1 0 1 VIDEO TRAINING.
SO THAT HAS BEEN PURCHASED AND THAT WILL BE COMING YOUR WAY TO YOUR INBOXES SOON.
SO, UM, IT'S ABOUT AN HOUR AND 15 MINUTES.
SO IF YOU CAN MAKE SOME TIME FOR THAT, THAT WOULD BE GREAT AND THEN WE'LL SHARE OTHER TRAINING OPPORTUNITIES AS THEY COME UP AS WELL.
JENNY, BOB, HAVE WE SIGNED UP FOR I THINK RED RIVER IS, YEAH, WE HAVE, LET'S HAVE THIS JANUARY.
WHAT ABOUT RECON? WE'VE ALREADY GOT THAT FIGURED OUT.
WE, WE HAVE, WE'RE GONNA MOVE OUR BOOTH SO WE GET MORE INTO THE CENTRAL HALL.
IN FACT, WE'RE GONNA GO ONLINE AND DO THAT TOMORROW AND ALL LIKELIHOOD, SO, BUT, BUT THERE ARE SOME SPOTS THAT ARE A LITTLE MORE CENTRAL THAN WHERE WE WERE.
AT WHAT POINT DO WE NEED TO FIGURE OUT IN TERMS OF PARTICIPATION BY THE BOARD, IF ANY? WELL LET, LET US ON THE, THE ONE IN RED RIVER IS SORT OF, YOU KNOW, A DAY, DAY AND A HALF DEPENDING.
SO, UM, WE CAN GIVE YOU THE AGENDA ON THAT ONE CUZ IT'S ALREADY PRETTY WELL BAKED AND SEE WHO HAS INTEREST IN TRAVELING.
IT'S A RELATIVELY PAINLESS, UH, TRIP THAT'S IN FORT WORTH STILL, RIGHT? YEAH, IT'S IS.
AND THEN, UM, THE ICSC ONE, WE ACTUALLY HAVE A ROUGH AGENDA FOR THAT.
WE HAVE THE DATES ALREADY LOCKED IN, OBVIOUSLY, SO LET ME JUST GET THAT AROUND TO EVERYBODY AND YOU CAN LOOK AT YOUR CALENDARS AND WHAT WE FOUND LAST YEAR AT ICSC IS WHEN YOU GO OUT AND REALLY WORK THE FLOOR AND GO SEE ALL YOUR CLIENTS, CUZ THEY'RE NOT ALL GONNA COME TO YOU, IT'S VERY HELPFUL TO HAVE A COUPLE PEOPLE BACK IN THE BOOTH OR SOMEBODY WHO CAN ACTUALLY ATTEND SOME OF THE SESSIONS.
UM, THE CREDIT CARD THING, FOR EXAMPLE, CAME OUT OF A SESSION THAT CHENEY ATTENDED LAST YEAR AS AS A CONCEPT.
SO TREMENDOUS AMOUNT OF INFORMATION AND
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IT GOES BY REALLY FAST BECAUSE YOU'RE REALLY ONLY THERE FOR ABOUT TWO AND A HALF DAYS.SO SPREADING OUT AND COVERING THE PLACE MAKES, MAKES A LOT MORE SENSE.
SO WE'LL SEND YOU THE AGENDA IF YOU HAVE AN INTEREST, WE HAVE A BUDGET THAT WILL SUPPORT A COUPLE OF PEOPLE GOING BEYOND STAFF AND WE'D LOVE TO HAVE YOU.
OUR BOOTH WILL INCLUDE TWO BADGES ALSO
WE HAVE NOTHING ON 6.1, 7.1 APPROVED WITH NOVEMBER 14TH, 2022 BOARD MEETING MINUTES BOARD MEMBERS IF YOU HAD OPPORTUNITY TO BE ABLE TO READ THE MINUTES.
IF YOU HAVE ANY CORRECTIONS, NOW IS THE TIME TO BE ABLE TO STATE.
IF NOT, I HAVE MOTION TO BE IN ORDER.
I'LL MAKE A MOTION TO APPROVE SEVEN ONE AS PRESENTED.
ANY FURTHER DISCUSSION? ROLL CALL PLEASE.
DISCUSS AND CONSIDER APPROVAL.
MONTHLY FINANCIAL STATEMENTS, UH, THE MONTHLY STATEMENT AND THE TEXAS POOL OPERATING ACCOUNT ACCESS.
UH, CHRISTINA BISHOP CONTROLLER FOR THE CITY.
UH, SO FOR TONIGHT'S FINANCIAL REPORT, I'M NOT GOING TO SPEAK TOO MUCH ON THE INCOME STATEMENT AND BUDGET, IT WAS A RELATIVELY UNEVENTFUL MONTH.
I THINK THE MOST SIGNIFICANT TRANSACTION OR UNUSUAL TRANSACTION THAT OCCURRED WAS THE, UH, EASEMENT WITH THE PROLOGIS.
UM, OTHER THAN THAT IT WAS REALLY JUST ATTORNEY PROFESSIONAL SERVICES, THINGS OF THAT NATURE.
BUT I AM HAPPY TO ANSWER ANY QUESTIONS YOU HAVE ON THE, UH, INCOME STATEMENT, BALANCE SHEET, ANYTHING LIKE THAT.
I KNOW YOU SHARED WITH ME, BUT WE DID MOVE THOSE CHECKS FINALLY OFF.
THAT'S ONE OF THE NEXT ITEMS I WAS GOING TO SPEAK ON.
SO THE FIRST THING, UH, SO I DO WANNA SPEAK ON THE, UH, ACTUAL FINANCIAL PACKET AND SOME OF THE BANKING, UH, OPERATIONS THAT ARE GOING ON.
THE FIRST ITEM IS THAT I'VE OFFICIALLY MOVED OUR BANK REC OFF OF QUICKBOOKS AND INTO INCODE.
SO, UM, I HAD TO DO AN IN AND OUT TO MOVE THE TWO STAED CHECKS INTO THE CITY SIDE TO DEAL WITH IN THEIR UNCLAIMED PROPERTY PROCESS.
SO THIS IS THE LAST MONTH YOU WILL SEE THE TWO STALE CHECKS.
SO I REALLY HOPE YOU DON'T MISS THEM BECAUSE THIS IS IT.
UM, THE SECOND ITEM I WANTED TO TOUCH ON WAS TEXT POOL ACCESS.
UM, WE DO NOT HAVE YET HAVE ACCESS TO THE ACCOUNT.
WE ARE JUST WAITING ON TWO SIGNATURES.
ONE FROM THE CHAIR, UH, AND ONE FROM THE CITY SECRETARY.
UH, I DID REACH OUT TO TEXT POOL AND THEY CONFIRMED THAT AS SOON AS THEY SEE THOSE SIGNATURES, UH, THE FOUR INDIVIDUALS WHO WERE GRANTED ACCESS LAST MEETING, THEY WILL TURN OVER PERMISSIONS TO ACCESS THE BANK ACCOUNT THAT DAY.
SO HOPEFULLY AS SOON AS TOMORROW WE WILL HAVE TEXT POOL ACCESS.
UM, SO I DID NOT FORGET THAT, UH, WE REQUESTED TAX POOL STATEMENTS IN THE MONTHLY FINANCIAL PACKET.
UH, I CAN SEND OUT A REVISED FINANCIAL PACKET AS SOON AS I SEE THOSE STATEMENTS.
JUST FOR TRANSPARENCY, QUICK QUESTION ON THE YES.
UM, SIGNATURE CARDS THAT, I GUESS THAT WAS A DIFFERENT DOCUMENT, NEVERMIND.
YES, YES, THAT WAS, THAT WAS THE OPERATING, WHICH I WILL SPEAK ON IN JUST A MOMENT AS WELL.
UM, OH, AND ON THE FINAL TEXT POOL NOTE, UM, I DID CREATE A FORM, UM, THAT WOULD REQUEST, UH, CHENIER MYSELF TO AUTHORIZATION TO MOVE MONEY FROM THE SIGNERS.
SO, UH, WE DO HAVE, UH, SHOULD HAVE DOCUMENTATION ON ANY TIME WE DRAW MONEY DOWN FROM TAX POOL TO OPERATING.
THERE IS SOMETHING BACKING IT UP, GIVING US PERMISSION TO DO THAT.
AND I THINK THAT FALLS IN LINE WITH WHAT THE, UM, PROCESS THAT WE PUT IN PLACE BEFORE TO MAKE SURE THAT WE HAVE, LIKE I SAID, ALL THE PROPER DOCUMENTATION, TWO SIGNATURES SO THAT MORE THAN JUST, UH, CITY STAFF KNOWS THAT MONEY'S BEING MOVED AROUND OR COVERING EXPENSES THAT WE NEED TO COVER FOR THE, UH, THE CORPORATIONS.
AND THEY, UH, SAW THE FORM FOR THE FIRST TIME TODAY AND SO WE ARE IN MOTION WITH THAT.
UM, AND THE FINAL ITEM I WANTED TO TOUCH ON WAS THE CITY'S OPERATING ACCOUNTS.
UM, SO WE HAVE TEMPORARILY PAUSED ACH PAYMENTS WHILE WE IRON OUT A FEW ADMINISTRATIVE ISSUES.
UH, SO JUST FOR TRANSPARENCY, THE PROCESS WITH THE OPERATING ACCOUNT IS THAT WITH THE A C H PAYMENT SPECIFICALLY, IS THAT THE TWO SIGNERS AUTHORIZED PAYMENT OUT OF THE OPERATING ACCOUNT, BUT THEN ADMINISTRATIVELY UH, TWO PEOPLE HAVE TO PHYSICALLY DO THE A C H.
SO, UH, THAT WOULD BE CITY STAFF.
SO IT WAS MYSELF AND THE C F O AT THE TIME BECAUSE SHE'S GONE.
WE WERE JUST WAITING TO ADD, UH, CHENEY TO THE ACCOUNTS TO CONTINUE MAKING ACH H PAYMENTS.
THAT PROCESS HAS TAKEN A LITTLE BIT LONGER THAN WE
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EXPECTED.UM, WE HAVE YOU COMPLETED THIS SIG UH, THE CHAIR HAS COMPLETED HIS, UH, AUTHORIZATION OF THE CHANGE IN SIGNATURE CARDS.
WE WERE TOLD FIVE TO SEVEN BUSINESS DAYS.
I THINK WE'RE ON BUSINESS DAY EIGHT AND SHE HASN'T GOTTEN HER PERMISSIONS YET.
UM, SO BECAUSE OF THAT WE JUST HAVE NOT MADE ACH PAYMENTS FOR THE LAST MONTH.
UM, HOPEFULLY THAT WILL BE RESUMED AND FUNCTIONING, FUNCTIONING NORMALLY, UH, BY THE TIME OF THE NEXT MEETING.
I WAS GONNA SAY, SO REMIND ME AGAIN ON, ON THE LAST MOTION THAT WE MADE, WAS IT FOR BOTH ACCOUNTS OR WAS IT JUST FOR TEXT PULL? IT WAS JUST FOR TEXT PULL ADD.
SO THEN DO WE NEED TO MAKE A MOTION TO ADD CHENEY TO THE OPERATING ACCOUNT? I THINK THAT WAS OUR, OH, I THINK THAT WAS ALREADY DONE.
AND THE ONLY REASON WE DID NOT BRING IT WAS BECAUSE I KNOW IT DIDN'T HAVE TO BE DONE BY RESOLUTION.
IT COULD JUST HAVE BEEN DONE BY ONE OF THE SIGNERS.
UM, DID ANYBODY SIGN ON THAT? THE, UH, DOCUMENT THAT I HAD AUTHORIZED, THE CHANGE IN THE SIGNATURES OF THOSE AUTHORIZED INTO THE ACCOUNT TO TEXT POOL OR TO THE TO THE OPERATING ACCOUNT? TO THE OPERATING ACCOUNT, YEAH.
TEXT POOL SITTING OVER THERE WAITING FOR ME TO SIGN.
SO DID YOU OPERATE, DID YOU, SO YOU AUTHORIZED CHENEY TO BE PART OF THAT TO THE OPERATING ACCOUNT THEN? UM, I BELIEVE THAT'S WHAT WAS ON THE SIGNATURE CARD.
TRUST NOW I UNDERSTAND IS THAT I'D SIGNED IT BEFORE I WENT ON VACATION, SO I'M STILL TRYING TO RECOVER FOR VACATION.
SO WE WOULD NEED A VOTE ON THAT.
WOULDN'T, I MEAN, YOU CAN'T JUST, I THOUGHT WE DID.
ONE PERSON CAN'T AUTHORIZE SOMEBODY ELSE TO BE BEYOND SOMETHING WITHOUT A VOTE OF THE WHOLE BOARD.
THAT WOULD BE CONTROLLED BY THE DEPOSITORY AGREEMENT WITH THE, WITH THE INSTITUTION AS TO WHO CAN AND CANNOT, WHAT WHO THEY RECOGNIZE.
AND SO IF THE, THEIR FORMAT IS ONE WHERE THE BOARD CHAIR CAN IDENTIFY INDIVIDUALS THAT ARE ON THE, THE ACCOUNT AND REPLACE THEM, THEN THAT WOULD BE PART OF THE DEPOSITORY AGREEMENT.
AND I'M, I'M NOT AWARE OF WHAT THAT SAYS.
THERE'S GOTTA BE SOMETHING RULES.
CAUSE LET'S SAY I'M THE ONE THAT CAN SIGN, SO THEN I, ON MY OWN AUTHORIZE MY DAUGHTER TO NOW BE ABLE TO BE ON AN OPERATING ACCOUNT.
SOMETHING WOULD TELL ME THAT THERE WOULD HAVE TO BE SOME KIND OF ACTION ON THIS BOARD TO ALLOW ME TO PICK MY DAUGHTER.
CUZ IF I JUST SAID, WELL, I HAD THE RIGHT TO DO IT AND THE BANK SAID IT WAS OKAY.
YEAH, I DON'T THINK THAT'D FLY REAL WELL, BUT, SO I WAS, I'LL DOUBLE CHECK YOUR BYLAWS.
SO I HAVE TO GO BACK TO THE LAST MEETING, WHICH I WAS NOT HERE FOR.
WE, WE DID A VOTE AND A LOT OF DISCUSSIONS AROUND TEXT POOL, BUT IT WASN'T AROUND THE OPERATING ACCOUNT.
SO THE OPERATING ACCOUNT DID NOT GET A VOTE.
IS THAT CORRECT? I DON'T BELIEVE SO.
WELL, I THINK YOU JUST DID THE MINUTES.
IF YOU LOOK AT THE MINUTES, YEAH.
I THINK DE DESPITE THE UH, BYLAWS AND DEPOSITORY AGREEMENT, I THINK IT'S PROBABLY, UH, IN THE BEST TRANSPARENCY FOR THE ORGANIZATION, FOR THE CORPORATION, FOR THE CITIZENS, FOR US TO GO AHEAD AND VOTE TO HAVE, UH, ADDITIONAL, UH, AUTHORIZED SIGNATURE ON THAT.
SO I THINK THAT'S IN OUR BEST INTEREST.
AND I WOULDN'T, UH, NECESSARILY CALL IT AN AUTHORIZED SIGNATURE.
IT'S MORE OF, UM, JUST ADMINISTRATIVE BANKING ACCESS.
I DON'T, I DON'T KNOW IF THAT MAKES SENSE.
BECAUSE IF WE DON'T, IF THE TWO DON'T SIGN OFF ON IT FROM THE AUTHORIZATION STANDPOINT, THEN THE ABILITY FOR ANYONE ELSE TO, TO TRANSFER MONEYS BASED ON OUR SIGNATURE IS NULL AND VOID IF WE DON'T SIGN.
WHY WAS THAT SET UP AS DUAL CONTROL? UM, TO BE HONEST, I'M, I DON'T EVEN UNDERSTAND.
I MEAN, ANGIE, OR I'M SORRY, THE FORMER C F O AT THE TIME WAS THE ONLY ACTING PERSON AS I UNDERSTOOD IT.
I DON'T KNOW HOW, WHO WAS SHE, WHO WAS THAT PERSON BOUNCING OFF OF IT TO GET DUAL CONTROL ON ACHS? CUZ IT SOUNDS LIKE THERE'S A DUAL STEP PROCESS.
YOU INITIATE, SHE APPROVES OR SHE APPROVE INITIATES AND YOU APPROVE WHAT WAS, WHO'S, WHO'S THE SECOND PERSON FOR THE PRIOR C F O? I DON'T BELIEVE THERE WAS ANYONE.
UM, THE ACHS STARTED WITH ANGIE.
UM, I'M NOT SURE WHAT THE PROCESS WAS.
I WAS JUST TOLD I WAS THE SEC I WAS THE SECOND APPROVER.
YEAH, I THINK THAT ONCE IT WAS AUTHORIZED BY TWO INDIVIDUALS FROM THE BOARD, THEN UH, THE PREVIOUS CFO SIMPLY, UH, ENGAGED THE AUTHORIZATION BASED ON OUR PART.
NO, THE WAY IT SOUNDS HERE IS THAT ALTHOUGH WE MAY DO DUAL SIGNATURES HERE, IT'S UH, THE BANKING SIDE OF THAT IS THERE'S A PERSON THAT INITIATES IT AND THEN THERE'S A PERSON THAT APPROVES IT, RIGHT? AND SO WE'RE NOT PREVIOUSLY GOING AND INITIATING AND APPROVING.
PREVIOUSLY THE, UH, THE CFO F THAT WAS THERE BEFORE WAS THE ONE THAT WAS, WOULD INITIATE THE BANK TRANSACTIONS BASED ON OUR SIGNATURES.
BUT I DON'T THINK THAT THERE WAS A SECOND PERSON DOING IT.
AND NOW OF COURSE THERE'S SEVERAL FACTORS THERE.
ONE IS THAT THEY WERE WOEFULLY UNDERSTAFFED.
AND THEN THE SECOND PART WAS, IS UM, UH, I THINK THROUGH THE TRANSITIONS
[00:25:01]
THAT WE HAD IN CITY MANAGEMENT, SOMEWHERE ALONG THE WAY THEY GOT DROPPED.AND SO SHE WAS JUST SIMPLY TRYING TO KEEP HER HEAD ABOVE WATER AND JUST GOING AND DOING IT.
THAT I LIKE THIS PROCESS BETTER TO MAKE SURE, BECAUSE NOW WE'VE GOT SOMEBODY FROM THE EDC STAFF THAT'S ENSURING RIGHT, THAT THEY'RE, THAT WHAT'S BEING DONE BY THE CITY WAS WHAT WAS AUTHORIZED BY THE BOARD.
BUT IT, RIGHT NOW IT SOUNDS AS IF IT'S A PROCESS THAT HAS TWO PEOPLE, RIGHT? THAT'S WHAT SOUNDS RIGHT NOW.
BUT WHY DID THAT CHANGE? WHAT, WHERE DID THAT CHANGE PRIOR TO THAT? WHY WAS IT THAT ANGIE WAS THE ONLY SINGLE PERSON THAT COULD APPROVE AND DELEGATE? SO SHE, SO AS FAR AS I'M CONCERNED, IT WAS, UM, EVER SINCE WE STARTED DOING ACHS, THERE'S ALWAYS BEEN THE DUAL AUTHORIZATION.
UM, AND YOU'VE BEEN HERE HOW LONG? OH, ABOUT A YEAR AND A HALF.
SO I THINK THAT SOMEWHERE ALONG THE WAY THAT'S SOMETHING TO LOOK INTO BECAUSE, AND IT'S NOT THAT THIS SETUP IS WHAT I'M QUESTIONING.
IT'S, IT'S THE PREVIOUS SETUP THAT I'M QUESTIONING.
HOW DOES THIS PERSON INITIATE? I THINK THERE WAS ACH BEFORE AND IT, WE, THEY JUST SAID THEY WOULD HANDLE IT WITH A SECOND PERSON FROM THE ACCOUNTING STAFF IS WHEN, IS WHAT I REMEMBER.
SO THAT'S WHAT I WOULD ASK BECAUSE THEN THAT PERSON WOULD HAVE TO BE ON THE ACCOUNT AS WELL, WHICH THEN NOW SHOWS I THINK WE NEED TO GET A LIST OF ALL THE SIGNERS THAT ARE ON THIS ACCOUNT.
THAT WAY WE CAN CLEAN UP ANYBODY THAT'S NOT ON THERE AS WELL AS, LIKE I SAID, YEAH.
THAT, I THINK THAT'S THE FIRST STEP WE SHOULD LOOK AT.
WELL, BUT THE, THE IMPORTANT PART THOUGH IS THAT, YOU KNOW, CHENEY CAN BE OR CAN HAVE ACCESS TO WHATEVER PLATFORM IS BEING USED, GENERALLY SPEAKING, AND NOT BE A SIGNER ON THE ACCOUNT AND STILL HAVE ALL OF THE NECESSARY ENTITLEMENTS TO DO WHATEVER WHENEVER, HOWEVER, UM, IS DEEMED APPROPRIATE WITHOUT HAVING THAT ACTUAL, IS THAT WHAT YOU'RE ASKING FOR A SUB USER OR A SUB PERSON SETUP? YES.
IT'S, IT'S ESSENTIALLY A SUB USER.
WE'RE JUST USERS EXECUTING WHAT WE ARE INSTRUCTED TO DO.
SO SHE'S NOT ON THE SIGNATURE CARD.
IT'S NOT A SIGNATURE CARD EXECUTING THE AUTHORIZATION.
SO IT JUST ACCESS, YOU KNOW, JUST ONLINE PORTAL ACCESS ESSENTIALLY TO GO YEAH, I, MY APOLOGIES WITH THE USE OF THE TERM SIGNATURE CARD.
THAT IS, UM, YEAH, THAT INDICATES, YEAH,
ANYTIME THE BANKER GETS CONCERNED, ALL OF A SUDDEN
AND I WILL TELL YOU THAT, THAT, THAT, YOU KNOW, IT'S, IT'S EVERYBODY, EVERYTHING IS FINE.
AND DANNY, UNTIL, YOU KNOW, A MILLION DOLLARS IS MISSING AND THEN EVERYTHING COMES BACK AND THEY'RE ALL LOOKING AT IT AND FORENSICALLY FIGURING THINGS OUT AND YEAH.
AND ABSOLUTELY J JUST FOR PEACE OF MIND AS WELL.
UM, ONCE WE DO GET ACCESS TO TEXT POOL AND WE GO THROUGH, UH, SOME OF THE EXERCISES WE'VE TALKED ABOUT, SUCH AS SEEING WHO'S ON THE ACCOUNT, WE'LL DO THE SAME THING WITH THE OPERATING ACCOUNTS, UM, AS WELL.
SO RIGHT NOW WE'RE WANTING TO PUT TWO PEOPLE TO SIGN OFF ON A DEAL, BUT BEFORE, DID YOU SAY ANGIE WAS DOING IT ON HER OWN? CUZ SHE WAS JUST TRYING TO KEEP HER HEAD ABOVE WATER? NO, UH, I SAID, YOU SAID, I SAID SHE'S TRYING TO KEEP HER HEAD ABOVE WATER.
SO WAS IT BEFORE JUST ONE PERSON DOING IT BEFORE? NO, IT'S ALWAYS BEEN TWO PEOPLE, UH, ANGIE AND MYSELF.
SO THAT'S WHY SINCE SHE'S DEPARTED, WE'VE HAD, WE'VE HAD DEPOSIT THE ACH PAYMENTS BECAUSE IT, THE BANK HAS THE DUAL AUTHORIZATION SETUP, BUT I THINK PRIOR TO THAT WE DIDN'T KNOW THAT SHE WAS DOING IT.
ANGIE JUST TOOK IT PRIOR CHECK.
NO, THERE WAS NO ACH PRIOR UNTIL SHE CAME TO US.
BUT BECAUSE THERE WAS PRIOR IT'S BEEN EIGHT MONTHS AGO.
SO AT THAT POINT IN TIME, I THINK THE PREVIOUS C CFO JUST SIMPLY HAD HER DOING THE SECOND AUTHORIZATION WITHOUT EVER COMING TO US.
SHE'S AT LEAST COMING TO US NOW AND SAYING WE WANT A SECOND AUTHORIZATION.
SO WITH ALL THIS DISCUSSION, HERE'S AT SOME POINT I FEEL LIKE I, F**K, WE OUGHTA KNOW THE SEVEN OF US OUGHTA KNOW WHAT THE PROCESS IS, WHO'S ABLE TO DO EVERYTHING AND I DON'T THINK WE KNOW MM-HMM.
SO AT SOME POINT BEFORE WE END UP WITH THE PROBLEM, I THINK WE NEED TO FIGURE OUT WHO HAS WHAT AUTHORITY AND WHAT THAT AUTHORITY MEANS.
BECAUSE I'M COMPLETELY CONFUSED.
I DON'T KNOW WHO CAN WRITE A CHECK, WHO CAN'T, WHO'S TRANSFERRING MONEY, WHO CAN'T, WHO'S BALANCING BOOKS.
AND I KNOW THAT IN THE PAST YEAR WE HAD, WE HAD, UH, AN EMPLOYEE USING THE PREVIOUS C'S PASSWORD TO GO IN AND MAKE CHANGES.
AND THEN WE HAVE ALL THESE THINGS GOING ON.
WE'RE GONNA END UP WITH A PROBLEM AND BEING ON THE NEWS AND THEN WE'RE ALL GONNA SIT UP HERE AND GO, WE DIDN'T KNOW WHAT WAS GOING ON.
WELL, IT'S MY UNDERSTANDING THAT THOSE THAT ARE ON THE SIGNATURE CARD ARE THE AUTHORIZED INDIVIDUALS FROM THIS CORPORATION AS BOARD MEMBERS THAT CAN AUTHORIZE A FINANCIAL TRANSACTION TO OCCUR.
WE'RE SIMPLY SAYING THAT NOW THERE'LL BE TWO INDIVIDUALS, WE'RE SIMPLY ADDING CHENEY TO ACTUALLY EXECUTE THE TRANSACTION.
THAT'S ESSENTIALLY WHAT WE'RE TALKING ABOUT RIGHT HERE, RIGHT? THAT THAT'S EXACTLY WHAT WE'RE TALKING ABOUT.
I DON'T, I DON'T UNDERSTAND WHAT WHAT CONFUSION IS THAT? WELL, MR. CHAIR, I DO HAVE, UH, BOARD MEMBER SNYDER'S ANSWER NOW, UM, IT'S SECTION 3.7 OF YOUR BYLAWS, WHICH SAYS SIGNATURE AUTHORITY FOR THE CORPORATION, RUSS WITH THE CHAIRPERSON, THE VICE
[00:30:01]
CHAIRPERSON AND THE TREASURER, THE SIGNATURES OF TWO INDIVIDUALS ARE REQUIRED TO ENDORSE PAYMENT OF CHECKS, NOTES OR OTHER OBLIGATIONS.FUNDS RECEIVED TO THE CREDITOR OF THE CORPORATION SHALL BE DEPOSITED IN SUCH BANKER BANKS OR DEPOSITORIES AS SHALL BE DESIGNATED BY THE BOARD.
SIGNATURE AUTHORITY MAY BE DELEGATED TO CERTAIN CITY STAFF AS DETERMINED BY THE BOARD.
AND IF SO, DELEGATED THE CORPORATION SHALL PAY THE CITY REASONABLE COMPENSATION FOR SUCH SERVICES PURSUANT TO AN AGREEMENT BETWEEN THE PARTIES.
SO THAT, THAT'S YOUR SECTION 3.7 OF YOUR BYLAWS.
SO THE BOARD DOES VOTE ON THAT.
SO THE BOARD GIVES THE AUTHORITY, HOWEVER, THE, THE, LIKE A CPA MAY BE ABLE TO GO LOOK INTO YOUR BANKING STATEMENTS IN ORDER TO MAINTAIN YOUR BA YOUR BOOKS, BUT THEY MAY NOT BE ABLE TO OPERATE TRANSACTIONS HERE.
IT IT SOUNDS THAT THEY'RE ACTUALLY PERFORMING THE OPERATION OF THE TRANSACTION, WHICH RELIES ON TWO SIGNATURES BY THE BOARD TO GIVE THEM THE AUTHORITY.
AND SO IS IT POSSIBLE, AND TELL ME IF I'M WRONG, BUT IF IT'S, IF, IF YOU'RE ASKING IF IT, IS IT POSSIBLE THAT THE TWO PERSONS COULD GET INTO CAHOOTS WITH ONE ANOTHER AND MAKE A TRANSACTION WITHOUT THE SIGNATURES OF THE TWO BOARD MEMBERS? I THINK THE ANSWER IS YES.
AND SO THE NEXT MONTH AT THE, THE NEXT MONTH MATERIALS AND UH, COUNCIL MEMBER, I MEAN A BOARD MEMBER AS TREASURER, YOU'RE RESPONSIBLE FOR THE FINANCIAL OVERSIGHT OF THE CORPORATION.
AND SO YOU WOULD BE THE ONE THAT WOULD BE MONTHLY.
YOU WONDER WHY I'M ASKING A MILLION QUESTIONS THAT YOU WOULD HAVE A FIDUCIARY OBLIGATION TO ENSURE THAT THE TRANSACTIONS ARE BEING DONE PROPERLY.
UH, AND, AND YOU'RE THE ONLY ONE WITH THAT FIDUCIARY RESPONSIBILITY AS TREASURER UNDER YOUR RULES AND CHAPTER 22 OF THE BUSINESS ORGANIZATIONS COULD.
SO TO THE CHAIR, MY CONFUSION IS LAST MEETING WE GOT CONFUSED ON THE MOTION IN TERMS OF TAKING PEOPLE OFF THAT WE WERE, WE WIPING THE ENTIRE, I FORGET WHAT THAT PROCESS WAS, BUT THE BIG QUESTION FOR THE BOARD WAS, ARE WE WIPING EVERYBODY OFF AND JUST ADDING TWO? AND WE DIDN'T LIKE THAT.
AND ALL I'M SAYING IS WHEN WE'RE ALL DONE AND EVERYTHING'S FILED AND RECORDED AND EVERYBODY, THE BANK AND TEXT PULL AND EVERYBODY'S HAPPY, WE WOULD LIKE A MEMO, SOME KIND OF MEMO WHO HAS WHAT BECAUSE LAST MONTH WAS CONFUSING THIS MONTH WE HAVE A LOT OF QUESTIONS.
I JUST DON'T WANT NEXT MONTH TO US BE THINKING LIKE, OH, I THOUGHT, I THOUGHT UH, COUNCIL MEMBER, HER BOARD MEMBER CLANCY HAD THIS PERMISSION.
OH NO, THAT'S ACTUALLY LUCAS AND I DON'T KNOW WHERE WE KEEP THIS STUFF WRITTEN DOWN OTHER THAN I'VE, I'VE ASKED FOR HER AND I'VE HAD COMMUNICATED AND I'VE ASKED FOR A LIST OF THINGS.
I THINK WE'RE WAITING ON TEXT PULL TO COME AND GIVE US, GET ON TO WHERE WE CAN START DOING SOME MAINTENANCE AND SOME CLEANUP, UM, TO THAT ACCOUNT.
I DID NOT KNOW ABOUT THE OPERATING ACCOUNT.
SO MAYBE YOU AND I SHOULD TRY TO CARVE OUT SOME TIME NEXT WEEK AND JUST KIND OF WALK THROUGH SOME OF THESE THINGS AND ABSOLUTELY.
AND WHEN YOU, UH, I KNOW ONE OF THE ITEMS YOU REQUESTED, FOR EXAMPLE, IS A LIST OF VENDORS THAT ARE UNLISTED IN TAX PULL.
I THINK THAT WOULD BE EVEN AN EVEN MORE USEFUL EXERCISE IN THE OPERATING ACCOUNT CUZ THAT'S WHERE WE'RE ACTUALLY PAYING PEOPLE OUT AND THERE'S SUB USERS.
IF THERE'S ANY OLD SUB USERS THAT ARE STILL OUT THERE, WE NEED TO DELETE ALL THOSE.
WE NEED TO JUST DO A OVERHAUL AND A CLEAN MAINTENANCE OF THOSE ACCOUNTS AND THEN ADD ANY SECURITY MEASURES JUST TO MAKE SURE THAT THE BOARD HAS SOME SORT OF OVERSIGHT MM-HMM.
UM, FROM TEXT ALERTS OR TEXT EMAILS SAYING, HEY, THIS MONEY'S BEING MOVED, EVERYBODY GETS IT TO THEIR EMAIL.
I THINK THOSE ARE THINGS, BUT WE'LL LET'S TRY TO CARVE OUT SOME TIME NEXT WEEK TO REALLY WALK THROUGH THAT.
WHAT WHAT I THINK YOU'RE GONNA FIND IS THAT THEY WILL BE THE ONLY TWO PEOPLE WHO CAN TRANSAC CONDUCT TRANSACTIONS ONLINE AND MOVE MONEY ONLINE MM-HMM.
BUT IF A BOARD MEMBER WALKED INTO THE BANK AND SAID, I WANNA MOVE $6,000 OR $600,000 TO X Y Z WHO IS A SIGNATORY WITH TWO PEOPLES, UH, THERE TO APPROVE IT, THEY WOULD, THEY WOULD DO THAT.
IT'S JUST WHO CAN DO IT ONLINE? ARE THOSE TWO PEOPLE? WELL SAY THAT AGAIN.
SO, SO THERE'S A DISTINCTION IN THE BANKING INDUSTRY THAT I'VE IDENTIFIED WHERE THERE THE, THERE IS A DIFFERENCE BETWEEN SOMEBODY WHO IS A SIGNATORY ON THE ACCOUNT THAT HAS AUTHORITY TO ACT AND SOMEONE WHO CAN PERFORM AN ELECTRONIC FUND TRANSACTION FROM THAT BANK ACCOUNT ELECTRONICALLY FROM THE INTERNET.
AND SO IF, IF I, IF I'M, YOU KNOW, THE UNDER MY LAW FIRM, BUT I'M NOT THE PERSON THAT'S ON THE LIST THAT CAN DO TRANSACTIONS ONLINE.
I HAVE TO CALL THE BANK AND SAY I WANNA MOVE MONEY X, Y, Z BUT I STILL HAVE THAT AUTHORITY CUZ I'M A SIGNATURE.
SO NO ONE HERE HAS THE AUTHORITY I UNDERSTAND.
TO, YOU KNOW, MOVE FUNDS ELECTRONICALLY ON BEHALF OF THE BOARD.
THE ONLY TWO PEOPLE THAT HAVE THAT AUTHORITY THAT WE ARE DISCUSSING ARE STAFF AND THEN THE, THE, BUT THE BOARD MEMBERS BEING SIGNATORIES, TWO OF THE BOARD MEMBERS CAN DO ANY TRANSACTION NECESSARY OTHER THAN AN ELECTRONIC TRANSACTION.
THEY WOULD HAVE TO CALL THE BANK AND
[00:35:01]
GET CLEARED AND THEN MAKE WHATEVER TRANSACTION THEY WERE NECESSARY.I DON'T KNOW EXACTLY IF THE BANK, WHAT THEIR BANK'S POLICY IS, BUT IF YOU HAPPEN TO, IF YOU'RE A SIGNATORY GUARANTOR AT MY BANK, YOU CAN GO ONLINE AND CREATE YOUR OWN PROFILE.
YOU CAN GO ONLINE AND DO DELEGATIONS OF AUTHORITIES.
I CAN CREATE SUB USERS, I CAN DO TON OF THINGS.
SO I'M NOT SURE WHICH, IF THAT BANK HAS THAT POLICY WHERE YOU HAVE TO GO INTO THE BRANCH, BUT THAT'S NOT AT MY BANK.
AS SOON AS SOON AS SIGNATORY, YOU HAVE SIGNATORY ON EVERYTHING.
SO THAT GOES BACK TO WHAT I FIRST SAID WAS IT MAY CONTROL UNDER THE DEPOSITORY AGREEMENT OF THE BANK.
LET'S JUST SPEND SOME TIME KIND OF CARVING THAT OUT.
CAUSE I THINK THERE'S A LOT TO, TO DISCUSS.
AND I, I AGAIN, JUST TO CLARIFY SO THE PUBLIC KNOWS WE ARE NOT TRYING TO GIVE STAFF MEMBERS AUTHORIZATION TO CREATE AND, AND CREATE FINANCIAL TRANSACTIONS FOR THE CORPORATIONS.
THAT'S NOT WHAT WE'RE TALKING ABOUT HERE.
WE'RE STILL, SOMEBODY'S GONNA HAVE TO CREATE IT.
WELL, AND THAT'S STILL, IT'S STILL THE AUTHORIZATION OF THE THREE PEOPLE THAT CR THAT CREATE THAT FINANCIAL TRANSACTION PAPERWORK.
I UNDERSTAND THEY HAVE TO GO INTO THE SYSTEM WITH A BANK AND ACTUALLY LOG THAT TRANSACTION.
AND AT THAT POINT IN TIME, IF THEY WERE TO DO THAT, THAT'D BE THEFT.
IF YOU, YOU GOTTA MAKE THEM AS A, YOU GOTTA MAKE ONE OF THEM AS A SIGNATURE, A G OR A SIGNATURE, A A SIGN, A SIGNER ON THE ACCOUNT SO THAT THEY CAN INITIATE THE TRANSACTION.
ALTHOUGH WE INITIATE THE TRANSACTION ON PAPER AND WE SIGN A LITTLE, LITTLE FORM AND DUAL CONTROL, BOTH OF US SIGN IT.
SOMEBODY HAS TO INITIATE IT AT THE BANK AND UNLESS WE INITIATE IT AND THEY APPROVE IT, THEN THAT'S ONE THING.
BUT WE'RE NOT INITIATING THESE THINGS SO SOMEBODY ON THEIR SIDE'S GONNA HAVE TO INITIATE IT
I UNDERSTAND, BUT THEY'RE INITIATING, THEY'RE SIMPLY EXECUTING.
THEY'RE EXECUTING WHAT THE FINANCIAL TRANSACTIONS CORRECT.
HAVE BEEN AUTHORIZED BY THIS CORPORATION.
THAT'S THAT'S WHAT THAT'S WHAT YOU'RE, OKAY, THAT'S WHAT I'M SAYING.
I IF ANYTHING OUTSIDE OF THAT THEN IT'S THEFT BY CITY STAFF IF THEY'RE, IF THEY'RE EXECUTING TRANSACTIONS THAT WAS NOT APPROVED BY THIS BOARD.
AND THAT'S SIMPLY ALL WE'RE TALKING ABOUT IS AUTHORIZING TWO CITY STAFF TO EXECUTE THE TRANSACTIONS THAT HAVE BEEN APPROVED BY THIS BOARD.
WELL IT'S NOT JUST THAT IT'S ONE ISSUES THE ATTRACTION, THE OTHER ONE HAS TO APPROVE IT.
SO IT'S ALSO A DOUBLE CHECK BETWEEN JUST THEM.
AND I THINK THAT'S A GREAT THING.
SO JUST WANTED TO SAY IT'S AN EXTRA LEVEL OF YEAH, I THINK THAT'S GREAT.
I DO GOT A QUESTION ABOUT A COUPLE CHECKS OR I DON'T KNOW, DISBURSEMENTS OR REIMBURSEMENTS.
ONE SAYS FACEBOOK PROMO TITAN DEVELOPMENT FOR 152,000.
I DIDN'T REMEMBER US HAVING, UH, THE EDC HAVING AGREEMENT TITAN THAT'S NOT 152,000.
AM I READING THAT WRONG? THE FACEBOOK PROMO WAS $499.
I WAS LIKE HOLY COW
I'M HERE READING IT SIDEWAYS AND
UM, BUT WHAT DOES A SHEET MEANT MEAN? OH, SO, UM, THAT IS BASICALLY THE TWO STALE CHECKS.
UM, YOU, YOU KIND OF JUST SHEET THEM HAVE, YOU KNOW, HAVE TO STATE DEAL WITH THEM, UH, TO DEPARTMENT CHECKS, WRITING THOSE, CHECK THE TWO CHECKS WE TALKED ABOUT LAST MEETING, WHICHEVER.
SO I, I MOVED THAT OVER TO THE CITY TO DEAL WITH THIS PART OF THEIR PROCESS.
SO I'M, I'M TRYING TO, NOT TO OPEN UP AGAIN OF WORMS WITH THIS
SO LOOK, I THINK THERE'S, THERE'S TWO SEPARATE THINGS THAT, THAT ARE, YOU KNOW, ELEPHANTS THE ROOM THAT WE NEED TO, YOU KNOW, TALK ABOUT IF YOU WILL.
SO ONE, THE CONCERN IS ALWAYS WELL CITY STAFF, YOU KNOW, COULD DO THIS, COULD DO THAT, YADA, YADA, YADA.
WELL I COULD DO THE SAME THING IN MY COMPANY AT ANY GIVEN MOMENT AND WALK AWAY WITH MILLIONS OF DOLLARS AND, YOU KNOW, DEAL WITH THAT.
I HAVE A BOND THAT IS TIED TO ME THAT PROTECTS MY COMPANY'S INTERESTS.
YOU KNOW, FOR WHATEVER THE DOLLAR AMOUNT THAT IS HELD IN THE, IN THE DEPOSITORY ACCOUNTS.
UM, TO PROTE AND, AND THEY'RE RELATIVELY INEXPENSIVE.
IT'S ONE THING THAT I THINK IT WOULD BE, UM, POTENTIALLY ADVANTAGEOUS TO EXPLORE FOR THOSE THAT ARE CONCERNED ABOUT, UM, ABOUT THAT.
AND ALSO DEPENDING ON INSURANCE ITSELF, THAT CAN ALSO, UH, LEND ITSELF TOWARDS, UH, SOME OF THOSE ISSUES AS WELL.
SO, UM, THE OTHER SIDE THOUGH, WHEN WE TALK ABOUT DUAL CONTROL ON ACH AND YADA YADA YADA.
SO LOOK, UNLESS IF THE EDC WITH, AND, AND SO NOW I DON'T KNOW WHAT CADENCE OR UM, OR ENCODE AND HOW ALL THAT STUFF IS SET UP, BUT YOU KNOW, WHEN I DO MY BANKING, SO I CAN GO IN THERE AND I CAN HAVE SOMEBODY UPLOAD A TRANSACTION, THEN I CAN APPROVE IT, THEN THE CEO COULD APPROVE IT OR WHATEVER LINE OF SUCCESSION IS SET UP.
SO MY POINT THOUGH IS IF WE WANT REAL CONTROL
[00:40:01]
ON THE ACH SIDE, THEN THE CITY NEEDS TO UPLOAD THE TRANSACTION AND THEN A CHECK SIGNER OR A SIGNER ON THE ACCOUNT WOULD ACTUALLY NEED TO BE NOTIFIED THEN TO GO LOG IN TO THE APPROPRIATE PLATFORM TO, FOR ONE PERSON TO, TO DO THE INITIAL APPROVAL AND THEN THE SECOND APPROVAL WOULD'VE TO BE DONE BY SOMEBODY ELSE.THAT'S THE ONLY WAY TO BE TRIED AND TRUE AND GO, HEY, IT'S NOT ON A PIECE OF PAPER, THE ONLY WAY TO DO IT IS WITH SECURITY TOKENS, FOBS, YOU KNOW, IPHONE, YOU KNOW, OTHER MULTIFACTOR AUTHENTICATION METHODS TO PREVENT THAT.
SO, UM, IF THAT'S THE REAL CONCERN THEN YOU KNOW, THAT'S SOMETHING THAT WOULD NEED TO BE EXPLORED.
BUT I THINK THERE IS A, A POTENTIAL MUCH MORE DEEPER DIVE IN ON THAT.
AND I DON'T KNOW WHAT CADENCE IS OR ISN'T CAPABLE OF WITH RESPECT TO THAT COMPARED TO, YOU KNOW, THE BIG, YOU KNOW, THREE OR FOUR BANKS THAT ARE OUT THERE.
I HAVE A DIFFERENT PERSPECTIVE ON IT.
SO NOW THAT WE GOT CLEAR GOV COMING TO THE CITY, WHAT WILL BE THE ABILITY TO ROLL THE EDC INTO THE CLEAR GOV STUFF? BECAUSE THEN YOU'LL SEE ALL THE TRANSACTIONS, EVERY SINGLE THING THAT GETS POSTED WILL IMMEDIATELY SHOW UP ONCE IT WERE ONLINE WITHIN 15 MINUTES.
SO EVEN THE PUBLIC COULD SEE IT.
SO FULL TRANSPARENCY REDUCES THE POTENTIAL FOR RISK AND THE ABILITY FOR IT TO GO AWAY.
CUZ YOU WOULD SEE IT COME THROUGH THE WIRE.
HERE'S WHY I UNDERSTAND WHAT YOU'RE SAYING.
SO WHEN I, WHEN I SIGN A CHECK THAT'S LEGAL TENDER AT THAT POINT, THAT'S DONE.
THE PROBLEM IS, IS ONCE AN ACH IS INITIATED, YOU HAVE A PERIOD OF TIME THAT YOU CAN CANCEL IT.
BUT IT'S VERY LIMITED, VERY FINITE.
ESPECIALLY IF IT'S THE SAME DAY ACH, IF IT'S A WIRE, IT'S GONE.
SO IF THE CONCERN IS WELL, YOU KNOW, BAD ACTOR, WHATEVER ELSE, NOT SAYING THAT THAT'S THE CASE AT ALL, BUT IT'S TOO LATE AT THAT POINT.
IT, IT WOULD BE BASICALLY LIKE HANDING A BLANK CHECK TO SOMEBODY SAYING, HEY, HERE YOU GO, COME BACK TO ME IN 15 MINUTES AND I'LL, I'LL DOUBLE CHECK WHAT YOUR, I'LL DOUBLE CHECK YOUR WORK.
SO BECAUSE THAT, THAT IS YOUR, WHEN YOU APPROVE AN ACH WIRE OR WHATEVER ELSE, THAT LITERALLY IS YOU SIGNING THE TRANSACTION AS IF IT WERE A CHECK.
OTHERWISE ONCE I SAY WIRE OUT, I'M DONE.
WELL I THINK OUR FINANCE DEPARTMENT IS HEADS AND ABOVE HOW IT USED TO BE AGREED.
BUT AS I'M FOND OF SAYING IN COUNCIL MEETINGS AND THE CITY MANAGERS HERE PROBABLY CHUCKLE.
I MAKE IT A POINT NOT TO TRUST ANYBODY ON ANYTHING BECAUSE MY JOB BEING APPOINTED TO THIS OR WHEREVER IS NOT TO TRUST PEOPLE IS TO ENSURE THAT EVERYTHING IS HAPPENING A CERTAIN WAY LIKE WE WANT IT TO BE.
AND SO WHATEVER WE NEED TO DO AS A BOARD TO MAKE SURE EVERYBODY'S COMFORTABLE, THAT THERE WILL BE NO ISSUES.
I THINK THEN I WOULDN'T WANNA BE ON THE POSITION ON YOUR SIDE WHERE THERE IS OPENNESS BECAUSE THEN YOU'RE GONNA HAVE PEOPLE ALWAYS ACCUSING OR SECOND GUESSING AND THE MORE TIGHT THINGS ARE DOWN, LIKE WHAT YOU GUYS ARE SAYING IN YOUR COMPANIES, THAT'S LIKE WHAT I'M USED TO IN MY COMPANY.
I CAN'T JUST WIRE 8 MILLION BECAUSE I SENT AN EMAIL.
BUT I KNOW THAT WHEN I DO THAT, NO ONE EVER QUESTIONS ME BECAUSE THERE'S THREE OTHER STEPS THAT HAD TO DO THAT.
AND SO, UM, I THINK WE GET THROUGH THIS STEP HERE, WE GET THE MEMO WHO'S ON EVERYTHING AND THEN WE COME BACK AND REVISIT IN TERMS OF IS THERE A SECOND STEP? DO WE NEED TO HAVE LIKE ONE OF YOU THREE BE ABLE TO LOG IN TO QUICKBOOKS OR WHATEVER IT IS WE'RE USING AND SIGN OFF ON A TRANSACTION.
UM, JUST SO THAT EVERYBODY RESTS BETTER RE YOU GUYS REST EASY CUZ YOU'RE NOT WORRIED ABOUT US.
QUESTION YOU EVERY MONTH AND THEN WE REST EASY CUZ WE ALSO GET THE CLEAR GOV AND THEN WE SEE THE BACKUP TO WHERE I DON'T HAVE TO WORRY ABOUT YOU THREE IN CAHOOTS WITH CHRISTINE THERE OR UM, CHENEY OR SOMEBODY.
UM, HOW PAINFUL WOULD IT BE TO SUSPEND THE ACHS UNTIL WE GET THIS RESOLVED AND FIGURED OUT? UM, I'M FINE WITH IT.
CHECKS, RIGHT? I MEAN CHECKS THAT REQUIRE PEOPLE TO LOOK AT INVOICES APPROVED AND ALL THAT KIND OF STUFF.
HOW, HOW PAINFUL WOULD IT BE TO YOU FOR YOU GUYS TO SUSPEND ACHS UNTIL WE GET A CLEAR PROCESS ON NOT PAINFUL AT ALL.
I MEAN THAT MIGHT BE OUR ANSWER FOR NOW UNTIL WE GET A CLEAR PROCESS ON THAT AND WE DON'T HAVE TO WORRY ABOUT ONLINE, WE DON'T HAVE TO WORRY ABOUT ADDING, WE DON'T HAVE TO WORRY ABOUT ALL THAT KIND OF STUFF.
IF WE JUST WRITE HAND CHECKS, THEY'RE, THEY'RE FIVE TO 10 CHECKS A MONTH, GIVE OR TAKE.
SO I MEAN, I, I THINK IT'S FINE FOR THE TIME BEING.
I MEAN THE, YOU KNOW, THE PERSON GETTING CHECKED THE MOST IS SITTING IN THIS ROOM, SO, UM, NOTHING CRAZY THERE.
AND I LIKE YOUR OPENNESS TO UM, THANK YOU TELLING US THINGS THAT MAYBE, YOU KNOW, WHEN I SAY THIS, IT'S GONNA OPEN UP A BUNCH OF DISCUSSION BUT YOU SAY IT ANYWAY AND SO I APPRECIATE THAT.
I DON'T KNOW IF YOU GOT THE ANSWER YOU'RE LOOKING FOR, BUT WE SHOULD HAVE A LOT OF DISCUSSION
[00:45:01]
THAT'S, I MEAN THAT'S WHAT THE AGENDA ITEM WAS.
IS THAT'S SOMETHING THAT NEEDS A MOTION TO SUSPEND ACHS OR IS THAT JUST BOARD? YEAH, THEY JUST GIVE DIRECT ACTION.
WE, WE ACTUALLY PUT IT IN PLACE BY MOTION OR UH, BY CONSENSUS.
IF THE BOARD AGREES, THEN YOU CAN DO IT BY CONSENSUS.
IF YOU FEEL LIKE THAT NEEDS TO HAPPEN.
I DON'T, I'M NOT GONNA CHALLENGE ON THAT.
IT, IT SOUNDS LIKE IT'S OKAY AND IT'S ACTUALLY LESS WORK.
AGAIN, THE SUPER USERS AND YOU HAVE THE MEETING OR THE SUB USERS AND THEY CAN START WORKING THROUGH THE PROCESS ONCE, GET EVERYTHING CLEARED OUT.
DID TERRY? NO, I THINK WE'RE, I THINK IT'S OVERKILL.
I THINK WE'RE SIMPLY TRYING TO ADD SOMEBODY ELSE THAT COULD SECOND THE TRANSACTION'S ALREADY BEEN APPROVED BY THIS BOARD AND I THINK WE'RE, WE'RE BEATING THIS THING AND WE'RE JUST, THIS IS AN OVERKILL IN MY OPINION.
SO NO, THERE IS NOT A CONSENSUS.
NOW IF YOU WANNA DO A MOTION, THEN WE CAN VOTE IT THAT WAY.
I WILL MAKE A MOTION TO SUSPEND ACH PAYMENTS UNTIL WE CAN FIGURE OUT A POLICY AND, AND FOR OUR BANKING WE HAVE A MOTION.
EVERYTHING DESERVES A SECOND IN A VOTE.
UH, NOW AGENDA ITEM EIGHT ONE.
THE BOARD WILL NOW RECESS THE OPEN MEETINGS, OPEN SESSION MEETING RECONVENE EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODE PURSUANT TWO SECTION 5 5171 ATTORNEY CONSULTATION 5 1 0 8 7 EQUINOX DEVELOPMENT AND 5 51 0 7 2 PROPERTY TO DELIBERATE AND SEEK LEGAL ADVICE REGARDING PROJECT PRIMERO, PROJECT STRAT THREE, PROJECT FIVE OR V I'M SORRY, PROJECT N, Q2 PROJECT GRACELAND PROJECT E S L O PROJECT, TITAN PROJECT SKY BOX PROJECT, POLY PROJECT, CHICAGO PROJECT D AND MEGASITE PROJECT AND NEW PROSPECTS WITH POTENTIAL INCENTIVE EVALUATION AND CONSIDERATION DISCUSSION AND RESTAURANT INCENTIVE PROGRAMS. TIME IS NOW SEVEN 19 AND WE WILL ADJOURN INTO, UH, OUR EXECUTIVE SESSION.
THE ECONOMIC DEVELOPMENT, UH, BOARD FROM HUK IS NOW ENTERED BACK INTO SESSION.
THERE WAS NO ACTION TAKEN IN EXECUTIVE SESSION.
WE NOW MOVE ON TO ITEM 9.1, DISCUSS AND CONSIDER ACTION ON A RESOLUTION OF PROVEN ECONOMIC DEVELOPMENT PERFORMANCE AGREEMENT WITH PROJECT V.
MR. CHAIRMAN, NOW I CAN MAKE A MOTION TO, UH, APPROVE THE, UH, ECONOMIC DEVELOPMENT PERFORMANCE AGREEMENT FOR PROJECT V.
ANY FURTHER DISCUSSION? ROLL CALL PLEASE.
MOTION CARRIE 7 0 9 0.2 DISCUSSING CONSIDER ACTION IMPROVING THE TERMS OF AN E P D A FOR PROJECT N Q2 AND DIRECTING STAFF AND COUNCIL TO FINALIZE ECONOMIC DWELL PERFORMANCE AGREEMENTS FOR CONSIDERATION ACTION AT THE NEXT REGULAR MEETING OF THE BOARD CHAIRMAN I'D, I'D MOVE TO DIRECT STAFF TO NOTICE A PUBLIC HEARING AND PREPARE AN ECONOMIC DEVELOPMENT PERFORMANCE AGREEMENT OR PURCHASE AND SELL AGREEMENT AS APPLICABLE PROVIDING THE TERMS DISCUSSED IN EXECUTIVE SESSION AND BRING THE AGREEMENT TO THE NEXT EDC MEETING FOR DISCUSSION AND ACTION REGARDING PROJECT N Q2, PROJECT CHICAGO PROJECT PRIMERO AS THEY ARE AVAILABLE.
ANY FURTHER DISCUSSION? ROOM CALL PLEASE.
I'VE INSTRUCTED BY COUNSEL THAT AGENDA ITEM 9.3, WHICH STATES DISCUSSING CONSIDER ACTION PROVEN AND EXPENDITURE ANTICIPATED TO BE APPROXIMATELY A HUNDRED THOUSAND DOLLARS FOR GEOTECHNICAL STUDIES OF THE REAL PROPERTY INVOLVED IN PROJECT E.
UH, WE WILL NOT TAKE THAT IN CONSIDERATION TONIGHT, SO THERE'LL BE NO ACTION ON THAT AGENDA ITEM.
UH, THERE BEING NOTHING FURTHER BEFORE THIS BOARD, THE TIME IS NINE
[00:50:01]
16 AND WE STAND ADJOURNED.