[00:00:01]
YES.[(EDC) Board Meeting/(CDC) Board Meeting]
SIX THIRTY TWO AND I CALL IT HEAD OF ECONOMIC DEVELOPMENT CORPORATION.TYPE A AND TYPE B BOARD DIRECTION MEETING.
PRESENT VICE CHAIR LUCAS PRESENT.
BOARD MEMBER OWENS PRESENT IF YOU HAVE QUORUM ON PLEDGE.
I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS.
ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL ON THE TEXAS FLAG.
I P ALLEGIANCE TO THE TEXAS ONE STATE UNDER GOD.
DO WE HAVE ANYONE SIGNED UP FOR A PUBLIC COMMENT? NO, SIR.
ALRIGHT, ITEM FIVE ONE, DISCUSS AND CONSIDER ACTION REGARDING AN END OF YEAR BUDGET AMENDMENT FOR THE FISCAL YEAR 2023.
SO THE END OF THE FISCAL YEAR IS UPON US AND WITH THAT COMES THE RECKONING OF THE BUDGET
SO, UH, WHAT YOU HAVE BEFORE YOU IS AN UPDATED, UM, ACCOUNT DETAIL FOR OUR FUND 35, WHICH IS THE CORPORATION'S BUDGET.
UM, YOU'LL SEE ON THERE THAT THERE ARE A FEW LINE ITEMS THAT SHOW A NEGATIVE BALANCE.
UM, THE BOARD CAN LEAVE THOSE VARIANCES, UH, RECONCILE SOME AND LEAVE OTHERS OR TRY TO RECONCILE ALL.
UM, WE DO HAVE SOME RECOMMENDATIONS ON HOW TO DO THAT.
THE MOST SIMPLE SOLUTION, UH, WE ALSO HAVE TO ACCOUNT FOR THE $300,000 HOTEL INCENTIVE, WHICH IS NOT SHOWN ON HERE.
UM, SO THE EASIEST THING TO DO WOULD BE TO USE THE FUND BALANCE FOR THAT INCENTIVE AND THEN RECONCILE THE REMAINING LINE ITEMS PER STAFF'S DIRECTION ON THINGS THAT KIND OF MAKE SENSE.
OR IF THERE'S CERTAIN LINE ITEMS THAT YOU'D LIKE TO LEAVE FOR FUTURE BUDGETING PURPOSES.
SO WE HAVE A BETTER IDEA OF WHAT WAS ACTUALLY SPENT IN THOSE CATEGORIES.
WE'RE HAPPY TO DO THAT AS WELL.
SO THAT'S AT THE BOARD'S DISCRETION.
SO YOU'RE SAYING THAT, UM, UNDER THE BUSINESS INCENTIVES THERE'S 300,000 THAT'S NOT LISTED UNDER THAT.
AND THE REASON WHY IT'S NOT LISTED IS BECAUSE WE WANNA SPREAD IT OUT? NO, BECAUSE THAT WAS NOT A BUDGETED ITEM.
AND SO WHEN THE BOARD APPROVED THAT INCENTIVE, THEY DID NOT DESIGNATE A FUNDING SOURCE.
AND UNLIKE OTHER INCENTIVES, THIS IS NOT ONE THAT GETS PAID OUT OVER A TERM OF FIVE YEARS, THREE YEARS, 10 YEARS, ANYTHING LIKE THAT.
THIS WOULD BE A LUMP SUM PAYMENT.
'CAUSE IF YOU'LL RECALL THIS WAS FOR, UH, IMPACT FEE REIMBURSEMENT.
AND FOR THE SALARIES, I'M ASSUMING THAT IN INCORPORATES THE, I WANT TO CALL IT MEMBER BENEFITS SPECIALIST, UH, BUSINESS SCREWING THAT BUSINESS RESOURCE SPECIALIST.
BUSINESS RESOURCE SPECIALIST,
SO THE BUDGET THAT YOU'RE LOOKING AT IS FOR THE CURRENT FISCAL YEAR F Y 23, OUR BUSINESS RESOURCE SPECIALIST WAS APPROVED FOR THE F Y 24 BUDGET? YES, SIR.
SO A TYPICAL PROCESS FOR THE 300,000 IS SOMETHING LIKE IT, IT JUST KIND OF HIT RIGHT AT THE END OF THE YEAR.
IS THAT, AM I UNDERSTANDING THAT RIGHT? AND THAT'S THE REASON WHY WE'RE NOT LIKE DOING AN AMENDMENT TO IT EARLIER? RIGHT.
SO IT WAS RECENTLY APPROVED, UM, JUST WITHIN THE LAST 60 DAYS OR SO, I BELIEVE.
UM, AND THIS WAS THE HOTEL PROJECT THAT HAD PREVIOUSLY COME FORWARD AND PLATTED AND THERE WERE SOME CHANGES SINCE THE LAST TIME THEY WENT THROUGH THE PROCESS.
AND SO THE IMPACT FEES HAVE SIGNIFICANTLY CHANGED SINCE THEN.
AND SO THE BOARD TOOK THAT UNDER CONSIDERATION AND CHOSE TO, UM, PAY THE DELTA BETWEEN THE PREVIOUS CHARGES AND THE CURRENT CHARGES.
AND THAT WAS NOT INCLUDED IN OUR F Y 23 BUDGET.
AND CHANEY, COULD YOU PROVIDE CLARITY ON WHAT HOTEL GROUP WAS THAT AGAIN? UH, THAT WAS THE TOWN PLACE.
[00:05:30]
SO CHANEY, YOU GAVE US THREE OPTIONS.LIKE WHAT, WHAT WHAT CAN'T WE DO? CAN WE DO ALL, OR WE CANNOT DO ALL, WE WILL HAVE TO GO INTO THE FUND BALANCE FOR APPROXIMATELY $160,901.
UM, BUT THAT DOES NOT INCLUDE ANY ADDITIONAL OUTSTANDING, AS YOU CAN SEE, I ESTIMATED WHAT I HAD EXPECTED OUR SEPTEMBER ATTORNEY SERVICES TO BE AS WELL.
SO I DON'T KNOW THAT EXACT AMOUNT.
UM, ADDITIONALLY I'M NOT SURE ABOUT THE INTEREST PAYMENTS FOR DEBT FOR OUR CURRENT DEBT.
UM, CHRISTINA, IS THAT SOMETHING THAT YOU CAN SPEAK TO? 'CAUSE I SHOW A NEGATIVE BALANCE OF 200, BUT I DON'T KNOW THAT THAT INCLUDES OUR SEPTEMBER PA INTEREST PAYMENT AS OF YET AT, SORRY, I'M MAKING YOU WALK REALLY FAR.
I DIDN'T REALIZE IT WAS THAT FAR FORWARD.
SO TO ANSWER YOUR QUESTION, UH, THERE ARE ACTUALLY TWO INTEREST LINE ITEMS ON THE INCOME STATEMENT.
ONE IS THE DEBT INTEREST THAT JUST COVERS YOUR, UH, BONDS THAT WERE ISSUED I THINK BACK IN LIKE 20 18, 20 19.
UM, THE MONTHLY PAYMENT TO ALLIANCE BANK IS ACTUALLY ON A SEPARATE LINE.
AND I BELIEVE THAT IS UNDER BUDGET RIGHT NOW.
SO YOU'RE, YOU'RE SAYING $200, RIGHT? CHENEY, JUST TO BE CLEAR.
SO CURRENTLY YOU'LL SEE THERE'S A 313 NEGATIVE BALANCE RIGHT FOR, UH, BANK AND FINANCE CHARGES.
WE'VE SHIFTED EVERYTHING OVER TO THE WELLS FARGO ACCOUNT AND WE SHOULD BE GENERATING ENOUGH INTEREST TO OFFSET ANY FINANCE CHARGES ON A MONTHLY BASIS.
THAT'S THE EXPECTATION MOVING FORWARD.
UM, AND THEN THE $510 AND 34 CENTS ON THE LAND PURCHASES ITEM LINE ITEM, UM, THAT WAS FOR THE CANCELLATION FEE.
UM, THAT CAME IN AFTER WE HAD BUDGETED AND AGREED TO THE, UH, PURCHASE OF THE COTTONWOOD PROPERTIES.
UM, AND THEN THE $200 FOR THE DEBT INTEREST PAYMENT, THOSE ARE THE LOWER, UM, NEGATIVE BALANCES.
BUSINESS INCENTIVES IS A NEGATIVE 48 18.
AND THEN, UM, JUST PER SOME CALCULATIONS, OUR CURRENT OUTSTANDING ATTORNEY SERVICES PUTS US AT NEGATIVE $30,885 AND 22 CENTS, UH, INCLUDING THE CURRENT POSITIVE BALANCE OF THE $2,574 AND 94 CENTS.
UH, AND THEN JUST BASED ON THE EXPECTED SHORTFALL, UM, FOR THE AVERAGE OF JUST JULY AND AUGUST, THE EXPECTED SHORTFALL WOULD BE A NEGATIVE $47,615 AND 30 CENTS FOR THE YEAR.
SO THAT IS SOMETHING THAT WE COULD DO AN AMENDMENT FOR.
AND IF I GOT THAT RIGHT, IT'S AN AMENDMENT TO THE BUDGET FOR, SHOULD I LIST SPECIFIC ITEMS LIKE BANK AND FINANCE CHARGES, LAND PURCHASES, E D C, DEBT, INTEREST PAYMENT, LEGAL, AND THE, UH, WHAT IS IT? THE PERFORMANCE, IS THAT RIGHT? THE BUSINESS INCENTIVES IS THE PIECE THAT, SO I WILL DEFER TO LEGAL ON HOW THIS NEEDS TO BE WORDED BECAUSE LIKE I SAID, THERE ARE STILL OUTSTANDING LINE ITEMS AND BALANCES DUE.
SO I DON'T KNOW THAT WE WANNA COMMIT TO A PENNY AMOUNT PER LINE ITEM.
UM, IF LEGAL WOULD LIKE TO WEIGH IN ON THE BEST APPROACH TO THAT TO GIVE FLEXIBILITY, BUT COVERAGE AS WELL.
SO YOU CAN, I MEAN, LIKE YOU SAID, YOU CAN MAKE AN AMENDMENT.
UM, THE LAST ONE THAT YOU DIDN'T INCLUDE, UM, I THINK THAT YOU WERE TRYING TO GET AT WAS BUSINESS INCENTIVES.
JUST MAKE AMENDMENT TO THE, I WAS GONNA MAKE A MOTION TO, TO ALLOW FOR THE AMENDMENT OF THE BANK AND FINANCE CHARGES AS LAND PURCHASES, E D C, INTEREST PAYMENT LEGAL SERVICES, AS WELL AS THE INCENTIVE OR BUSINESS INCENTIVE, UH, PROGRAM.
IS THAT, IS THAT A DECENT, THAT WOULD COVER IT WITHOUT, UH, SAYING A SPECIFIC AMOUNT? ARE THOSE ARE THE ONES, THE BUCKETS, SO TO SPEAK, THAT NEED? CORRECT.
THE CURRENT OUTSTANDING BUSINESS INCENTIVES? I DO WANNA BE CLEAR THAT WE ARE PLANNING THEN TO USE THE $300,000 FROM THE FUND BALANCE TO COVER THE PENDING INCENTIVE FOR THE HOTEL BECAUSE THAT WE DO NOT HAVE ENOUGH IN ALL THE EXTRA ACCOUNTS HERE TO COVER THAT NECESSARILY GIVEN THE OUTSTANDING BALANCES STILL TO COME IN FOR SEPTEMBER.
[00:10:06]
SO THEN I'LL MAKE THE MOTION TO MAKE A, TO ALLOW STAFF TO PROPOSE A BUDGET AMENDMENT TO THE BANKING AND FINANCE CHARGE LINE ITEM, LAND PURCHASES LINE ITEM, THE E D C DEBT INTEREST PAYMENT LINE ITEM, THE LEGAL SERVICES LINE ITEM, AS WELL AS THE BUSINESS INCENTIVE, UM, LINE ITEM AS WELL.AS WELL AS TO MOVE 300,000 FROM OUR FUND BALANCE TO COVER THE SHORTFALL FOR THE BUSINESS INCENTIVE SHORTAGE.
WE HAVE A MOTION BY VICE CHAIR LUCAS, SECONDED BY SECRETARY CLANCY.
THIS IS DIRECTING STAFF TO ADD ADDITIONAL $300,000 TO THE BUSINESS INCENTIVES LINE, AS WELL AS PROVIDE, UH, OTHER DIRECTION REGARDING THESE OTHER ACCOUNTS.
UH, NOT LIMITED TO, BUT INCLUDING BANK AND FINANCE CHARGES, LAND PURCHASES, E D C DEBT, UH, INTEREST PAYMENT AND BUSINESS INCENTIVES AND BUSINESS INCENTIVES.
ALREADY GOT THAT LEGAL AND LEGAL, UM, OPEN UP FOR DISCUSSION.
AS FAR AS THE LAND PURCHASE, WHEN DID WE PURCHASE THE LAND? UH, WE CLOSED ON THE LAND ON MARCH 7TH OF THIS YEAR? YES SIR.
WHAT'S THE FIVE TEN FOUR? IS IT JUST A MISCALCULATION OF THAT WAS THE CANCELLATION FEE? 'CAUSE IF YOU'LL RECALL, UM, PRESTON HOLLOW HAD, I THINK ENGAGED THE CONSTABLE'S OFFICE AT THAT POINT.
AND THEN HAD CANCELED THAT BECAUSE WE DID PAY.
AND SO THAT WAS JUST THE CANCELLATION FEE.
AND THAT WAS NEGOTIATED AFTER WE HAD ALREADY, UM, FIGURED THE ACTUAL PURCHASE PRICE AND BANK AND FINANCING CHARGES IS JUST DUE TO THE FACT THAT WE WERE AT ONE BANK AND WE'RE SWITCHING TO ANOTHER.
THOSE WERE MONTHLY CHARGES JUST TO SERVICE OUR ACCOUNT.
UM, SO PER FINANCE, WE DO NOT EXPECT THOSE TO CONTINUE.
UH, WITH THE NEW WELLS FARGO ACCOUNT, THEY CHARGED US $635.
I THINK PART OF THAT IS 'CAUSE WE'RE MAKING MONTHLY WIRES NOW FOR ALLIANCE BANK, AND I THINK THAT THAT'S PROBABLY 55 PLUS BUCKS A POP.
MORE THAN LIKELY SOMEWHERE THERE.
SO, AND I'M ASSUMING THERE'S AN A C R ON, UH, EARNINGS CREDIT RATE ON, UH, WELLS ACCOUNTS? YES, THERE IS.
JUST TO BE CLEAR, WE HAVE ADEQUATE FUNDS AVAILABLE TO COVER ALL OF THIS AND IT'S JUST A MATTER OF RECONCILIATION OR, CORRECT.
UH, ANY, ANY OTHER FURTHER DISCUSSION THERE? NONE.
AND I, AND I KNOW YOU'RE RATTLING OFF NUMBERS, BUT I WAS WRITING DOWN MY MOTION LEGAL, WHERE DO WE EXPECT LEGAL TO END? HOW MUCH MOVED OVER TO LEGAL? 'CAUSE IT DOESN'T SHOW A NEGATIVE DEF UH, OR DEF A DEFICIENCY CURRENTLY ON, ON OUR CORRECT.
SO, UH, THE INVOICES THAT WE HAVE RECEIVED THUS FAR FOR THE MONTHS OF JULY AND AUGUST ARE TOTAL, UM, INCLUDING THE $2,574 AND 94 CENTS THAT WE HAVE STILL IN THE, IN THAT LINE ITEM.
THAT WOULD PUT US AT A NEGATIVE $30,885 AND 22 CENTS.
AND THEN WITH THE AVERAGE BETWEEN JULY AND AUGUST, UM, BEING ADDED FOR SEPTEMBER AS KIND OF A BEST GUESS, WE WOULD BE, UH, AN EXPECTED SHORTFALL OF NEGATIVE $47,615 AND 30 CENTS.
BUT AGAIN, THAT'S, THAT'S A BEST GUESS BASED ON THOSE TWO MONTHS AVERAGE.
ANY OTHER DISCUSSION? BEARING NONE.
SIX OH, ITEM FIVE, TWO, UH, DISCUSSIONS.
CONSIDER ACTION REGARDING THE FINANCIAL PROCESSES AND PROCEDURES OF THE CORPORATION AND RELATED AMENDMENTS TO THE BYLAWS.
SO BOARD, YOU WERE PROVIDED SOME, UH, SAMPLE POLICIES, PROCEDURES FOR ACCOUNTS RECEIVABLE, FINANCIAL POLICIES, ET CETERA.
UM, THOSE WERE JUST A JUMPING OFF POINT FOR Y'ALL TO START THINKING ABOUT THE TYPES OF PARAMETERS AND PROCESSES THAT YOU'D LIKE TO PUT IN PLACE FOR YOUR FINANCIAL REVIEWS, FOR INVOICES, CONTRACTS, UM, ADDITIONAL PAYMENTS, THINGS LIKE THAT.
SO, UM, I, WHAT STAFF IS LOOKING FOR HERE IS DIRECTION.
IF YOU WOULD LIKE TO DRAFT A FORMAL POLICY FOR THE BOARD, UM, WE CAN DO THAT AND LEGAL CAN SPEAK TO ANY IMPLICATIONS, UH, NECESSARY FOR THE BYLAWS AS WELL.
UM, BUT JUST LOOKING FOR YOUR FEEDBACK ON THE TYPE OF THINGS YOU'D LIKE TO SEE INCLUDED IN THAT POLICY SO THAT WE CAN DRAFT ONE AND BRING IT BACK, BACK FOR YOUR CONSIDERATION.
AND I'LL JUST ADD THAT THE DRAFT POLICIES WERE NOT, UH, REVIEWED BY LEGAL AHEAD OF TIME.
[00:15:01]
START, YOU GUYS ON YOUR DISCUSSION OF WHAT YOUR POSSIBILITIES ARE.VICE CHAIR LUCAS, IS THIS SOMETHING THAT, UH, YOU AND I MIGHT LIKE TO WORK ON WITH OUR BACKGROUND? YES.
I'M GOOD WITH THAT IF YOU WANT TO.
I WOULD LIKE TO BE, SO THERE'S THE REASON WHY I BRING THIS UP AND WE, IT DOES HAVE TO KEEP IT LIMITED TO, TO THREE.
UM, BUT EVERYTHING HAS TO DO WITH, YOU KNOW, SEAN'S BACKGROUND IN FINANCE.
I HAVE A BACKGROUND IN FINANCE.
WELL, UH, MARCUS DOES AS WELL, AND A LITTLE DIFFERENT FLAVOR.
UM, BUT THIS JUST HAS EVERYTHING TO DO WITH, YOU KNOW, MAKING SURE OUR PROCESSES ARE NOT ONLY ALIGNED ON OUR SIDE, BUT ALSO MAKE IT IN SUCH A WAY.
WHAT I DON'T WANT TO HAVE HAPPEN IS WE HAVE SOME, YOU KNOW, OVERBEARING PROCESS THAT CREATES A NEGATIVE IMPACT ON OUR FINANCE TEAM HERE IN THE BUILDING, YOU KNOW, SUCH AS CHRISTINA AND OTHERS.
WHY? BECAUSE THEY'RE THE ONES THAT ARE ACTUALLY RECEIVING OUR INVOICES.
THEY'RE THE ONES THAT ARE HANDLING ALL THE DAY-TO-DAY TRANSACTIONS AND WE'RE NOT TOUCHING IT.
SO WE DON'T SEE THE, THE, THE BURDEN THAT WE ACTUALLY CREATE WHEN WE, UH, UH, REACH FURTHER THAN WHAT WE PROBABLY SHOULD ON CERTAIN THINGS.
SO, UM, BUT THAT'S SOMETHING WE CAN WORK TOWARDS AND PROBABLY HAVE ADDRESSED.
NOT NEXT MEETING, BUT THE FOLLOWING PROBABLY.
'CAUSE WE'RE ALREADY, THAT'S ONLY THREE WEEKS AWAY, EFFECTIVELY.
SO I MEAN, WE, WELL, NEXT WEEK WE DON'T HAVE A MEETING.
SO IT'S, IT'D BE BASICALLY END OF THE MONTH.
CAN I, SO DO WE NEED LIKE A MOTION TO FORM A SUBCOMMITTEE COMMITTED, CONSISTENT WITH THREE OF YOU? I CAN DO IT AD HOC.
AND I GUESS JUST FOR HISTORICAL KNOWLEDGE, IS HAS THERE BEEN AN ISSUE WITH THE CURRENT PROCESS OR WE JUST, JUST KIND OF WANT TO UPDATE AND RE-LOOK AT IT? WE OFFICIALLY DON'T HAVE ONE.
SO WE'VE ALWAYS JUST RUN ON WHATEVER THE CITY HAS, YOU KNOW, DONE EFFECTIVELY.
UM, BUT I THINK THERE'S AREAS OF OPPORTUNITY AND, YOU KNOW, I APPRECIATE, YOU KNOW, SPECIFICALLY CHRISTINA, YOU KNOW, SHE SENT OUT, YOU KNOW, INVOICES, UM, FOR, UH, FOR LEGAL SERVICES LAST FRIDAY, THURSDAY, FRIDAY, SOMETHING LIKE THAT.
UM, THAT WAY IT GAVE US A CHANCE TO REVIEW THAT WAY.
WE'RE NOT COMING IN HERE GOING, HEY, HERE'S ALL THESE CHECKS, JUST SIGN 'EM.
SO IT'S JUST LITTLE MORE HOUSEKEEPING THINGS THAN ANYTHING OF JUST MAKING SURE THAT WAY EVERYBODY UNDERSTANDS.
'CAUSE WHILE THE CITY HANDLES OUR, OUR FUNDS, AT THE END OF THE DAY, UH, YOU KNOW, MARCUS IS TECHNICALLY RESPONSIBLE FOR THOSE
SO, YOU KNOW, WE'VE GOTTA MAKE SURE THAT WE HAVE ALL OUR BASES COVERED AND TO MAKE SURE LEGAL'S HAPPY.
AND I THINK JUST GETTING IT RIGHT IS SOMETHING THAT, YOU KNOW, WE CAN PASS ON.
YOU KNOW, I, I INTEND TO BE ON THE BOARD, BUT EVENTUALLY, YOU KNOW, IF WE CREATE A STRONG PROCESS, IT'S SOMETHING THAT CAN BE PASSED ON TO THE NEXT PEOPLE THAT ARE IN OUR CHAIRS.
IS THERE AN EMAIL THAT WAS SENT OUT THAT HAS OUR CURRENT PROCESSES THERE? REAL, THERE ISN'T A, A FORMAL PROCESS.
IT HAS BEEN THAT INVOICES COME IN AND FINANCE ISSUES THE CHECK FOR PAYMENT, AND IT'S SIGNED BY THE TWO SIGNERS AS REQUIRED BY THE BANK AND BY OUR BYLAWS THEY REQUIRE THE TWO SIGNERS.
SO I THINK THAT WHAT I'VE GATHERED FROM THE BOARD IN PREVIOUS ITEMS AND DISCUSSIONS IS THAT YOU WOULD LIKE TO HAVE MORE LINE OF SIGHT INTO THOSE INVOICES AND THE DETAILS AND HAVING SOME SORT OF PROCESS IN PLACE TO WHERE THOSE ARE BEING REVIEWED PRIOR TO BEING HANDED A CHECK TO SIGN.
BUT THAT'LL BE UP TO Y'ALL TO DECIDE HOW YOU WANT THAT PROCESS TO WORK.
YEAH, AND THEN I'LL ALSO ADD THAT FOR ME, I'D RATHER HAVE TOO MUCH INFORMATION AND HAVE TO DWINDLE IT DOWN IN MY OWN HEAD THAN NOT TO HAVE ENOUGH AND THEN POSSIBLY HAVE TO OVERLAP SOMEBODY ELSE'S INFORMATION AND THEN IT JUST BECOMES A LITTLE CUMBERSOME.
SO I DEFINITELY DO WELL WITH HOW THE COMMUNICATION IS COMING OUT, BUT I'M PERFECTLY FINE WITH THE OVER COMMUNICATION, LIKE EVERY FINE DETAIL, ESPECIALLY WITH ALL THE ISSUES THAT WE HAVE IN THE CITY.
AND, AND ALSO KEEP IN MIND THAT WHATEVER POLICY YOU ALL PUT IN PLACE WITH REGARD TO REVIEW WILL ALSO IMPACT OUR CONTRACTS.
SO WHEN WE ENTER INTO CONTRACTS FOR DESIGN SERVICES, LEGAL SERVICES, ANY OTHER PROFESSIONAL SERVICES, WHATEVER REVIEW PERIOD YOU REQUIRE IS GOING TO THEN BE INCORPORATED INTO THOSE CONTRACTS.
SO IT IS SOMETHING THAT WILL AFFECT A WIDE VARIETY OF THE SERVICES THAT Y'ALL, UM, APPROVE AND, AND TAKE ADVANTAGE OF.
AND THERE'S ONE AREA THAT I WANTED JUST TO DOUBLE CHECK ON, UM, IS SOMETHING I WAS DISCUSSING, UM, WITH CHENEY, UH, LAST WEEK.
UM, REGARDED, UH, BASICALLY DUAL SIGNERS IN THE CHECKS.
IT IS ACTUALLY INDEED IN OUR BYLAWS, IN OUR SECTION 3.7 SIGNATURE AUTHORITY.
[00:20:01]
ANY DEBITS TO ANY, UH, E D C ACCOUNT REQUIRES TWO SIGNATURES NO MATTER WHAT.SO THAT IS ALREADY IN OUR BYLAWS.
SO WE'VE GOT THAT PIECE COVERED.
WE JUST NEED TO CLEAN UP THE FRONT SIDE WITH SAYING WE NEED A INVOICE COMES IN, HERE'S HOW WE WANNA SEE IT DONE, ET CETERA, ET CETERA, AND WORK OUR WAY THROUGH IT.
YOU KNOW, WE HAVE PREFERENCE FOR AACH H WE HAVE PREFERENCE FOR THIS, PREFERENCE FOR THAT, AND WE'LL WORK THROUGH ALL THOSE BITS AND PIECES.
BUT IT, I DON'T THINK IT'LL TAKE LONG AT ALL.
I COULD PROBABLY STEAL MINE FROM MY COMPANY.
AND FOR THE RECORD CHAIR, WOULD YOU MIND, UH, STATING WHO YOUR APPOINTING TO YOUR SUBCOMMITTEE FOR ITEM? SURE.
I HAVE APPOINTED, UH, MYSELF ALSO VICE CHAIR LUCAS, AS WELL AS TREASURER OF COLEMAN.
AND WE WILL PROVIDE A, OR WE WOULD LIKE TO SEE A DRAFT OR AT LEAST SOMETHING THAT LEGAL, UH, HAS REVIEWED AND ABLE TO TAKE ACTION ON FOR THE, DO Y'ALL WANNA DO IT? UH, THE 13TH OF, OF, EXCUSE ME, OF I'M SAYING TO HAVE IT IN FRONT OF THE BOARD NOVEMBER 13TH.
THAT GIVES MONTH AND A WEEK-ISH.
YEAH, I'M BACK ON THE 12TH, SO ANYTIME AFTER THAT I'M ALRIGHT.
SO WE'LL PUT THAT ON THE 1113 AGENDA TO HAVE ALL THAT DONE.
NOW IS THIS TO BE SUBMITTED TO LEGAL OR TO HAVE IT IN FRONT OF THE BOARD? CORRECT.
SO I, I DIDN'T CATCH THAT, BUT TO BE CLEAR, NOVEMBER 13TH YOU'LL HAVE IT SUBMITTED TO LEGAL OR IS THAT TO BE BACK COMPLETED? BACK TO THE BOARD.
YEAH, SO I MEAN, I DON'T THINK WE'RE, WE'RE NOT TALKING ABOUT ANYTHING THAT NEEDS ANY SORT OF CRAZY REVIEW.
I MEAN IT'S PROBABLY AT A TWO TO THREE PAGE POLICY ACROSS THE BOARD.
I DON'T EVEN REALLY CARE ABOUT RECEIVABLES.
WHY? BECAUSE WE REALLY DON'T HAVE ANY RECEIVABLES THAT COME IN DIRECTLY TO US.
SO, UM, AND IT'S MAINLY SALES TAX, SO.
SO WE'LL HAVE THAT TO LEGAL PRIOR TO THAT AND WE'LL BE IN FRONT OF THE BOARD 1113.
THERE IS NO FURTHER ACTION ON THIS ITEM AT THIS TIME.
SO ITEM FIVE THREE, DISCUSS AND CONSIDER ACTION REGARDING THE PROCESS FOR THE MASTER PLANNING AND MASTER DEVELOPMENT OF THE COTTONWOOD PROPERTIES.
SO, UH, IN YOUR DOCUMENTS, UH, IN PREPARATION FOR THIS MEETING, Y'ALL RECEIVED, AGAIN, JUST SOME DRAFT, UM, R F P LANGUAGE, UH, FOR MASTER PLANNING AND MASTER DEVELOPMENT, SIMILARLY TO THE FINANCIAL PROCESS.
THAT'S JUST A JUMPING OFF POINT TO HAVE THE BOARD CONSIDER THE THINGS THAT ARE PRIORITIES, UM, THAT YOU WOULD LIKE STAFF TO SORT OF FILTER ALL OF THESE SUBMISSIONS, UH, FOR THE MASTER PLANNING AND MASTER DEVELOPMENT, UM, SO THAT WE CAN START WEEDING THOSE OUT AND WE DON'T HAVE TO BRING YOU LIKE 20 PROPOSALS TO CONSIDER.
UM, IN ADDITION, WE WOULD ALSO LIKE TO HAVE DIRECTION FROM THE BOARD REGARDING THE NUMBER OF PROPOSALS THAT YOU WOULD LIKE TO ENTERTAIN, UM, AND CHOOSE FROM.
FOR EXAMPLE, UM, THE MASTER DEVELOPER OPPORTUNITY.
I WOULD ANTICIPATE HAVING ANYWHERE FROM 12 TO 15 INTERESTED AT THIS MOMENT, UM, BASED ON CONVERSATION AND THEN ALSO INCORPORATING THE FEEDBACK YOU GIVE STAFF TONIGHT.
UM, WE WOULD HOPE TO WHITTLE THAT DOWN TO SOMETHING A LITTLE MORE MANAGEABLE FOR Y'ALL TO REVIEW IN ONE MEETING'S TIME AND MAKE A DECISION, UH, THAT WAY WE'RE ABLE TO MOVE FORWARD WITH THAT PROCESS.
SO, UM, WITH THAT BEING SAID, ARE WE THE MASTER PLANNING AND MASTER DEVELOPMENT, ARE WE WANTING THAT TO BE SEPARATE? AND THAT'S WHAT WE DECIDED THE LAST MEETING, RIGHT? YES.
SO THUS FAR Y'ALL HAVE DIRECTED STAFF TO PURSUE THOSE INDEPENDENTLY.
NOW JUST FOR CLARIFICATION, THE MASTER DEVELOPER WILL TYPICALLY HAVE MASTER PLANNERS, YOU KNOW, IN THEIR REPERTOIRE THAT THEY LEVERAGE AS WELL.
HOWEVER, THAT WOULD BE ONE OF THE PARAMETERS, UM, FOR PURSUING MASTER DEVELOPERS THAT IF YOU CHOOSE YOUR OWN MASTER PLANNER, THEY WOULD HAVE TO AGREE TO WORK WITH THAT MASTER PLANNER.
SO THAT WOULD BE AN EXAMPLE OF SOMETHING THAT YOU WOULD WANNA DIRECT STAFF TO MAKE SURE THAT THAT CRITERIA IS INCLUDED IN THE LANGUAGE WHEN WE SEND OUT THE REQUEST.
SO WHEN WE'RE LOOKING FOR MA LIKE A COMPANY TO DO A MASTER PLAN OR A MASTER DEVELOPMENT, ARE THERE PLATFORMS THAT THE CITY'S USING TO GET COMPANIES TO PROVIDE THAT INFORMATION OR ARE WE JUST, UM, GETTING COMPANIES TO COME IN THAT WE KNOW? SO THE E D C DOES NOT HAVE TO ADHERE TO THE STANDARD CITY PROCUREMENT PROCESS.
SO, UM, WE ARE ABLE TO JUST GO DIRECTLY TO THOSE PROVIDERS AND REQUEST THEIR BID OR SUBMITTAL, UM, FOR REVIEW.
SO THAT'S WHY I'M TRYING TO GET SOME CRITERIA FROM Y'ALL.
IT IS MORE EFFICIENT THAT WAY.
UM, TYPICALLY IF WE WOULD FOLLOW THE CITY'S PROCUREMENT PROCESS, WE WOULD POST THAT POST NOTICE IN THE PAPER.
WE WOULD POST IT ON CERTAIN, UM, MEDIA I GUESS FOR
AND THAT WOULD BE POSTED FOR TWO WEEKS.
THEN YOU DO A PUBLIC BID OPENING
[00:25:01]
AND THAT ALSO HAS TO BE POSTED.UM, SO THERE THERE'S DEFINITELY, UM, SIGNIFICANT TIME ADDED TO THE PROCESS AS WELL AS ADDITIONAL EXPENSES FOR ALL THOSE NOTICES AND THINGS LIKE THAT AS WELL.
SO WHEN WE'RE DECIDING ON THE A MASTER DEVELOPER, ARE WE CONSIDERING THINGS LIKE THEIR DUNS NUMBER, LIKE THEIR PRIOR, UM, SCOPES AND THEIR SCALE PRIOR PROJECTS AND WITH WHETHER THEY'VE HAD LIENS BEFORE? UM, WHAT'S THE PROCESS OF FIGURING OUT WHETHER THESE ARE SUITABLE DEVELOPERS? THAT IS EXACTLY WHAT STAFF IS ASKING FOR.
YOU TELL ME WHAT YOU WOULD LIKE TO HAVE IN THERE.
IF THERE'S CERTAIN THINGS THAT AUTOMATICALLY DISQUALIFY FOLKS, THEN THAT'LL HELP NARROW IT DOWN.
UM, THESE ARE PERFECT CRITERIA.
THAT'S EXACTLY WHAT WE'RE ASKING FOR.
AND DEPENDING ON WHAT IT IS, UM, 'CAUSE YOU'RE IN THE SAME INDUSTRY I AM IN JUST A LITTLE DIFFERENT WAY.
UM, I ACTUALLY HAVE ACCESS TO VIEW PRETTY MUCH ANY LIEN THAT IS EVER POSTED AGAINST ANY CONTRACTOR IN THE NATION.
WELL, TEXAS, I HAVE ACCESS MM-HMM.
IT'S NOT GONNA SAY WHETHER IT'S COMPLIANT OR NOT.
SHE'S ASKING FOR A LIST FROM US OF THINGS THAT QUALIFY.
UM, AND JUST TO MAKE SURE THAT THEY'VE HAD PRIOR PROJECTS OF THIS SCALE.
SO IF WE'RE TALKING ABOUT A DEVELOPER THAT'S DEVELOPED 250 ACRES OR MORE, UM, MAKING SURE THAT THAT'S BEEN DONE BEFORE.
AND THEN ALSO EVALUATING SOME OF THEIR REFERENCES AND THEN EVALUATING HOW THEY EVALUATE THEIR VENDORS, THEIR EXPERIENCE, AND HOW THEIR SELECTION IS.
I, I WOULD ALSO ENCOURAGE THE BOARD TO HAVE CRITERIA IN THERE REGARDING FINANCING STRUCTURE, PARTICULARLY FOR THE MASTER DEVELOPER.
BECAUSE I KNOW IN, IN PREVIOUS DISCUSSIONS, Y'ALL HAVE EXPRESSED A DESIRE TO HAVE A LITTLE MORE CONTROL THAN YOU WOULD TYPICALLY SEE IN A MASTER DEVELOPMENT PROCESS.
SO I FEEL LIKE THAT IS SOMETHING THAT HAS STOOD OUT TO ME IN CONVERSATIONS.
BUT, UM, I JUST WANNA MAKE SURE THAT WE DON'T GO DOWN A PATH AND THEN HAVE TO BACK UP AND SAY, WELL WAIT A SECOND.
WE ACTUALLY WANT IT TO BE THIS WAY.
WHEN IT COMES TO THE CONTROL AND FINANCING, WELL THERE'S ACTUALLY UNDER PROPOSAL SUBMISSION TO WHAT AARON MENTIONED A FEW SECONDS AGO.
THERE'S ACTUALLY LETTER B KIND OF TIES INTO WHAT YOU'RE SAYING.
I GUESS THE LANGUAGE COULD BE REFINED.
I JUST DON'T THINK FROM A COMMERCIAL AND A DEVELOPER STANDPOINT IS, IS VERY GENERIC.
SO IS THAT, WAS THAT THE PURPOSE OF THIS? JUST TO KIND OF GIVE A TEMPLATE OVERVIEW? YES, SIR.
SO IS THERE A WAY THAT WE COULD KIND OF REFINE IT AND THEN RUN IT BY LEGAL TO SEE, I MEAN WE CAN EFFECTIVELY PICK WHATEVER WE WANT THIS IN THE CONSTRUCTION WORLD IN OUR DIFFERENT FLAVOR AS LIKE A SUBCONTRACTOR OR EVEN A GENERAL CONTRACTOR.
IT'S PREQUALIFICATION PAPERWORK.
IT'S SAYING, HEY, TELL US ABOUT YOUR COMPANY.
TELL US ABOUT ANY SORT OF ENVIRONMENTAL LIFE SAFETY, HEALTH ISSUES YOU'VE RUN INTO.
WHO ARE THE PEOPLE THAT ARE GONNA BE WORKING ON THE PROJECT? HOW ARE YOU WILLING TO DO IT? GIVE US YOUR CURRENT BOOK OF BUSINESS, GIVE US SOME REFERENCES FOR WHAT YOU'VE DONE PREVIOUSLY.
SO IT'S USUALLY PRETTY INTENSIVE.
CHANEY, MY QUESTION IS THIS, IF WE'VE GOT 12 PEOPLE, WHAT'S GONNA BE THE DIFFERENCE BETWEEN SUBMISSION A AND SUBMISSION B? I MEAN, IF, IF IT'S IF WHAT ARE WE LOOKING FOR NUMBERS? ARE WE LOOKING FOR PROPOSED BUDGETS? LIKE, I MEAN I I FEEL LIKE PERSONALLY I'M, I'M GLAD YOU THREE ARE SPEAKING UP.
'CAUSE WHAT'S THE DIFFERENCE BETWEEN THE THREE? HOW ARE WE GONNA NARROW THESE DOWN TO, LET'S SAY THREE THAT CAN PROPOSE TO US AND MM-HMM.
WE, WE DON'T KNOW WHAT PROJECTS THEY'VE DONE.
WE'VE NEVER, WE WEREN'T INVOLVED IN THEM.
WE DON'T KNOW HOW SUCCESSFUL THEY WERE.
OR WHATEVER WE REFINE THAT LIST DOWN TO.
WHAT I WOULD EXPECT FROM MY DISCUSSIONS WITH MASTER DEVELOPERS THUS FAR IS THAT SOME OF THE CRITERIA SUCH AS THE FINANCING PIECE, IF YOU WANTED AN OPPORTUNITY TO DO A JOINT VENTURE, AND YOU'RE NOT TYING YOURSELVES TO THE DETAILS AS OF YET, BUT THERE ARE CERTAIN DEVELOPERS THAT ARE NOT OPEN TO THAT.
THEY'RE GONNA COME, THEY WANNA BUY THE FULL 250 ACRES AND THEY WANNA MASTER DEVELOP IT.
THAT IS A TRADITIONAL MASTER DEVELOPMENT MINDSET FROM WHAT I'VE GATHERED FROM CONVERSATIONS WITH Y'ALL.
THAT IS NOT THE DIRECTION YOU'RE WANTING TO GO.
[00:30:01]
YOU'RE WANTING TO HAVE A JOINT VENTURE.YOU WANT A PARTNER WHO HAS THAT EXPERTISE IN MASTER DEVELOPING.
YOU WANT INPUT ON, YOU KNOW, THE VARIOUS HUBS.
I KNOW THAT WAS SOMETHING THAT SECRETARY CLANCY HAD MENTIONED BEFORE.
UM, THE VARIOUS USE TYPES WHERE THEY GO MAKING SURE THAT IT FLOWS PROPERLY.
UM, AS WELL AS HAVING SOME SAY IN WHO EXECUTES THOSE DIFFERENT PIECES.
BECAUSE A MASTER DEVELOPER IS NOT GOING TO NECESSARILY HAVE A RETAIL SPECIALIST.
THEY, OR I'M SORRY, THEY WILL HAVE A RETAIL SPECIALTY GROUP THAT THEY KIND OF SELECT FROM TO DEVELOP THE RETAIL PORTION.
THEY MAY HAVE AN OFFICE SPECIALTY GROUP THAT THEY GO TO AND PICK FROM.
THEY HAVE VARIOUS VENDORS TO KIND OF PLUG INTO THERE.
SO I WOULD EXPECT, BASED ON CONVERSATIONS THAT Y'ALL WOULD WANT TO HAVE SOME SAY IN WHO GETS THOSE CONTRACTS, ESSENTIALLY THOSE SUBCONTRACTS RATHER, UM, TO DEVELOP THOSE VARIOUS USE TYPES AS WELL AS WANTING TO HAVE SOME SAY IN THE OVERALL DEVELOPMENT STYLE.
UM, THE CONNECTIVITY, SOME OF THE THINGS THAT Y'ALL HAVE SHARED ABOUT OUTDOOR SPACES BEING IMPORTANT.
UM, ALL OF THOSE TYPES OF THINGS I WOULD ANTICIPATE THAT WILL AUTOMATICALLY WEAVE OR WEED SOME PEOPLE OUT, UM, PRETTY QUICKLY.
SO, WELL, BUT THEN AT THAT CASE THEN THAT KIND OF BROADENS THE SCOPE BECAUSE YOU COULD ESSENTIALLY HAVE 12 MAIN CONTRACTORS AND FOUR OR FIVE SUBCONTRACTORS AND THEN BEFORE YOU KNOW IT, WE GOT MAYBE 40, 50 POTENTIAL HANDS IN THE POT TO WHERE WE'RE TRYING TO FILTER.
AND THEN IT BECOMES FRAGMENTED AND CONFUSING.
SO IS THERE A WAY THAT, I JUST DON'T WANT TO GET DOWN THAT, THAT RABBIT HOLE MM-HMM.
SO HOW DO WE STREAMLINE THIS TO, THAT'S WHAT I'M SAYING.
IT JUST SEEMS LIKE IT'S A, IT SOUNDS CUMBERSOME.
IT SOUNDS LIKE WE NEED TO MEET WITH SOME DEVELOPERS AND SEE WHAT TYPE OF IDEAS THEY HAVE AROUND IT, UM, WITH A JOINT VENTURE.
AND THEN IT ALSO SOUNDS LIKE, UM, HOW ARE THEY GONNA GIVE US, UH, A PROPOSED BUDGET WHEN WE DON'T EVEN HAVE A MASTER PLAN YET? SO THEY DON'T KNOW EXACTLY HOW THEY CAN STRUCTURE WHAT THEY'RE GONNA DO AS A MASTER DEVELOPER UNTIL WE PROVIDE SOME TYPE OF MASTER PLAN THAT RIGHT.
SO THE MASTER DEVELOPER WOULD INCORPORATE THAT COST INTO THEIR OWN BUDGET AND THEN IF WE TOOK CARE OF THAT SEPARATELY, THAT WOULD JUST COME OUT OF THEIR BUDGET.
IT WOULD NOT NOT BE AN ITEM FOR THEM.
SO WHAT I THINK FROM A DEVELOPMENT STANDPOINT, JUST FROM WORKING IN COMMERCIAL REAL ESTATE, THERE'S, I CAN'T SAY THE NAME OF THE SOFTWARE 'CAUSE WE DON'T PAY FOR IT BY THE CITY, BUT THERE'S A SOFTWARE THAT THEY USE THAT, THAT LITERALLY PLUGS IN ALL THIS STUFF AND THEN IT LETS THEM KNOW EXACTLY WHAT THEY NEED, WHAT THAT ZIP CODE NEEDS.
SO IT'S LIKE A MORE COMPREHENSIVE INFOGRAPHIC, BUT THEN IT'LL IDENTIFY THE SPECIFIC USES BASED OFF OF A RADIUS AND A ZIP CODE.
SO IT'LL SAY BANKS, THIS SPECIFIC BANK, IT WON'T JUST SAY BANK, IT'LL SAY THIS SPECIFIC STORE.
SO FROM ALL THE CONTRACTORS AND BROKERS THAT I WORK WITH, THEY LIKE WORKING WITH A BLANK SLATE.
LIKE THEY KIND OF LIKE JUST SAY, HEY, WHAT DO YOU WANT TO GET OUT OF THE PROPERTY? AND THEN YOU TELL 'EM, YOU GIVE THEM THEIR TOP THREE POINTS YOU WANT OUT OF IT AND THEN JUST LEAVE THEM ALONE.
SO I FEEL LIKE IN THAT CASE, I'M MORE IN FAVOR OF A MASTER BUILD TO WHERE YOU LET THEM DEVELOP IT FROM THEIR LENS AND THEN YOU THEN POINT OUT THINGS THAT YOU TWEAK OR ADJUST INSTEAD OF US COMING ON THE FRONT END SAYING, WE WANT THIS.
AND THEY'RE LIKE, AND THAT'S WHERE IT GETS CUMBERSOME BECAUSE THEY'RE LIKE, NOT ONLY ARE WE DEALING WITH YOU, WE'RE DEALING WITH TDOT, WE'RE DEALING WITH THE COUNTY.
AND THEN NOW WE GET INTO THIS DARK, DARK HOLE AND IT'S HARD TO GET OUT OF IT.
AND I KNOW THAT WE'VE TALKED ABOUT, UM, I AGREE WITH THAT.
UM, AND IT CAN BE OVER CUMBERSOME, BUT HAVE WE THOUGHT ABOUT MAYBE USING SOME TYPE OF PLATFORM LIKE CONSTRUCTION CONNECT OR BUILDERS EXCHANGE TO REACH OUT TO THE PUBLIC ABOUT DIFFERENT DEVELOPERS THAT CAN GIVE A BID? OR ARE WE JUST GOING TO USE, 'CAUSE IT SOUNDS LIKE WE HAVE, YOU SAID THERE'S LIKE 12 TO 15 DIFFERENT DEVELOPERS OUT THERE, BUT IT SOUNDS LIKE THAT'S ALREADY COMING FROM PEOPLE IN-HOUSE TALKING TO OTHER PEOPLE.
SO I LIKE THAT IDEA, BUT ALSO I LIKE TO HAVE, UM, MAYBE REACH DEVELOPERS THAT WE HAVEN'T EXACTLY SPOKEN TO TOO, TO SEE WHAT ELSE, WHAT OTHER OPTIONS THAT ARE OUT THERE.
SO THAT'S WHERE IT GETS TRICKY BECAUSE PRETTY MUCH ALL THE DEVELOPERS IN CENTRAL TEXAS OR TEXAS AS A WHOLE, THEY'RE GONNA ALL HAVE SIMILAR DESIGN LANGUAGE.
THEY'RE FOLLOWING A BLUEPRINT.
NOW YOU CAN BE, YOU CAN DECIDE WHETHER OR NOT THOSE WORKING RELATIONSHIPS BECAUSE NOT ALL DEVELOPERS HAVE STAFF OR PERSONNEL YOU WANT TO DEAL WITH DIRECTLY.
SO I THINK IT COMES DOWN TO ACTUALLY HAVING DIRECT MEETINGS WITH THESE PEOPLE
[00:35:01]
TO DECIDE WHETHER OR NOT WE EVEN LIKE YOUR VIBE.LIKE YEAH, YOU COULD BE GREAT AT WHAT YOU AGREE.
BUT ALSO PUTTING IT ON A PLATFORM SO THAT WE CAN GET OUTSIDE DEVELOPERS THAT MAYBE WE HAVEN'T EVEN THOUGHT ABOUT.
AND I DO LIKE THE IDEA OF EACH OF THEM PRESENTING SOMETHING TO US SO THAT WE COULD HAVE A RELATIONSHIP WITH THEM.
BECAUSE I THINK THAT'S IMPORTANT WHEN WE'RE DOING A JOINT VENTURE.
SO MY QUESTION TO CHENEY, IS IT POSSIBLE WE COULD HAVE A SPECIAL MEETING WHERE WE'RE JUST DOING A MEETING WITH DOG WITH AND PONY SHOW BASICALLY? EXACTLY.
YOU KNOW, AND EVERYBODY PUTS THEIR BEST FOOT FORWARD AND THIS IS WHAT YOU'RE, BECAUSE FOR ALL WE KNOW, A LOT OF 'EM ALREADY HAVE PLANS AND I KNOW SOME THAT ALREADY HAVE PLANS AND THEY SAY, OH, WHAT ARE YOU GUYS DOING IN HUDDLE? I WAS IN ATLANTA THIS WEEKEND AT A C FIVE SUMMIT AND THEY BROUGHT UP, OH, HUDDLE.
SO WE ALREADY BLAH, BLAH, BLAH BECAUSE THEY'RE IN STAGE ONE OF THIS AT THE SAMSUNG PLANT.
SO THESE COMPANIES ALREADY HAVE AN IDEA OF HOW THEY WANT TO SHAPE OUR CITY.
IT'S JUST WHETHER OR NOT WE SHARE THAT VISION, BUT AT LEAST LET THEM TAKE A SHOT AT IT.
I THINK, UH, IF I MADE A SECRETARY CLANCY'S POINT EARLIER ABOUT THE PREVIOUS PROJECTS THAT HAVE ACTUALLY EXECUTED, BECAUSE WHAT YOU'LL FIND IS THERE'S A LOT OF BIDS OUT THERE FOR PROJECTS AND SPECIFICALLY FOR PLANNERS.
THEY'VE PLANNED A LOT OF THINGS.
BUT WHEN IT COMES TO EXECUTING THAT, THAT CRITERIA ALONE WILL WEEDED OUT SEVERAL, UM, FOLKS THAT HAVE ACTUALLY DONE A, A LARGE SCALE, 250 ACRE ISH MASTER PLANNED DEVELOPMENT.
MIXED USE I THINK WILL ALSO WEEDED OUT QUITE A FEW, UM, ALONG WITH THE JOINT VENTURE OPPORTUNITY.
SO IF YOU ARE SO MOVED, YOU CAN DIRECT STAFF TO GO AHEAD AND JUST BRING BACK FOR A SPECIAL MEETING OR, UM, A SUBSEQUENT REGULARLY SCHEDULED MEETING, YOU KNOW, PROBABLY I PROBABLY WOULDN'T DO ANY MORE THAN THREE AT A TIME.
'CAUSE I FEEL LIKE THAT'S A
UM, BUT THEN IF Y'ALL ARE HAPPY WITH THOSE THREE, THEN WE STOP THERE.
IF YOU'D LIKE TO SEE MORE, WE BRING UP THE NEXT THREE NEXT TIME, UM, AND EVALUATE THAT WAY.
UM, I DEFINITELY WANNA MAKE SURE THAT WE'RE MINDFUL OF THE TIMELINE, UM, BUT ALSO MAKING SURE THAT WE'RE EXECUTING ON A VISION THAT WILL BE THE LEGACY PROJECT OF THIS BOARD.
COUNSEL, THERE'S NO ISSUES WITH, UH, CONDUCTING ALL OF THIS AND EXEC.
WITH RESPECT TO THE, SINCE IT'S, I'M NOT SAYING TODAY, BUT I'M SAYING ACTUALLY ANY SORT OF PRESENTATIONS LUMPING THAT INTO EXEC, UM, I'D HAVE TO TAKE A FURTHER LOOK AT EXACTLY WHAT WAS GONNA BE PROPOSED OR WHAT WAS GONNA BE PRESENTED.
UM, IT WOULD BASICALLY BE THEIR PRESENTATIONS TO THE BOARD FOR THEIR, YOU KNOW, VISION SLASH USE OF, OF THAT PROPERTY.
ALL I'M WANTING TO TRY TO DO IS MAKE SURE THAT I DON'T HAVE MM-HMM.
YOU KNOW, UH, DEVELOPER A COME IN AND SAY ONE THING AND THEN, AND THEN DEVELOPER B GOES, OOH, HEY, I SAW HOW THE BOARD REACTED TO THAT.
LET'S MAKE A COUPLE QUICK TWEAKS.
YOU DON'T HAVE TO DO THAT BEHIND THE, YOU CAN JUST DO THAT IN YOUR OWN TIME AND SCHEDULE THAT.
JUST GIVE 'EM TIME SLOTS AND HAVE 'EM COME TO THE CITY HALL AND JUST DO IT IN THREES.
THAT WAY WE DON'T HAVE TO HAVE ANY FORM FORUM OR QUORUM.
BECAUSE IF WE CAN HAVE ACCESS TO, LET'S SAY IT WAS A NORMAL MEETING OR A MEETING START AT SIX 30, SAY AT FOUR 30, WE GOT ONE GROUP THAT COMES IN FROM FOUR 30 TO FIVE AND WE GET ALL THREE GROUPS OUT BEFORE OUR MEETING AT SIX 30.
THAT'S HOW WE TYPICALLY HANDLE IT.
WE HAD OTHER PEOPLE PROPOSING.
SO RIGHT NOW ARE WE TALKING ABOUT THE MASTER PLAN OR ARE WE TALKING ABOUT THE DEVELOPER? WE ABOUT BOTH.
BECAUSE I THINK THAT WITHOUT GIVING SOME TYPE OF IDEA TO A DEVELOPER, I'M SURE DEVELOPERS HAVE DEVELOPED DIFFERENT TYPES OF MIXED USE IF WE'RE GONNA USE THAT CRITERIA OF 250 ACRES.
HAVE THEY DONE THIS TYPE OF SCOPE BEFORE? UM, AND LIKE KIND OF LEADING INTO WHETHER WE LIKE WHAT THEIR OR THEIR VISION IS, WHAT OUR VISION IS.
BUT I'M SURE IF WE COULD PROVIDE SOME TYPE OF VISION TO THEM, LIKE WHAT WE'RE LOOKING FOR, ALL OF THEM COULD PROBABLY GIVE US AN IDEA OF HOW THEY CAN WORK THAT WITH THEIR NUMBERS AND STUFF.
SO IF WE JUST LEFT, LEAVE IT UP TO THEM.
GIVE US, THEY'RE KIND OF DOING THAT MASTER PLAN TOO.
SO THAT'S WHY I WAS WONDERING, SHE WOULD DO THE MASTER PLAN FIRST AND THEN GIVE IT TO ALL THESE DEVELOPERS AND THEN SEE HOW THAT FITS INTO THE WAY THEY OPERATE AND IF THEY CAN.
UH, MY ONLY CAUTION IS THAT AS YOU'RE ASKING SOME PEOPLE TO DO A LOT OF WORK, THEY'RE GONNA START DOING THEIR PROPOSALS, WHAT THEIR VISION IS, TAKE OUR INPUT, LISTEN TO WHAT WE SAY, PUT EVERYTHING TOGETHER
[00:40:01]
AND THEN PUT IT ALL UP AND, AND THEY'RE PUSHING FORWARD TO GETTING THE JOB OR THE ROLE OR TO GET THE PROJECT.AND THEN WE'RE GOING, NO, WE'RE ACTUALLY GONNA LOOK AT, WE'RE GONNA USE YOUR DATA TO GO OVER HERE.
I MEAN, I, I, I DON'T KNOW IF THAT'S THE RIGHT APPROACH, BUT IT'S SOUNDS LIKE, NO, SORRY, WHAT, WHAT WOULD BE THE POINT OF HAVING A MASTER PLAN DEVELOP THEN? BUT MO DON'T MOST MO DON'T MOST MASTER PLANERS ALSO DEVELOP AS WELL.
BUT THAT'S THE IDEA THAT, THAT WE THOUGHT WE WOULD DO SOMETHING SEPARATE, LIKE HAVE OUR OWN MASTER PLAN BECAUSE A LOT OF DEVELOPERS ARE GONNA PUSH THEIR IDEAS WHERE, WHERE THEIR STRONG SUITS ARE.
WE WANNA MAKE SURE THAT WE'RE HAVING THE BEST INTERESTS OF OUR CITIZENS AND MAKING SURE THAT WE HAVE THE SPACES THAT WE WANT AND THAT EVERYTHING FLOWS WELL.
SO THAT'S WHY I WAS THINKING THAT MAYBE IF WE DID THE MASTER PLAN FIRST, AND THEN THAT WOULD GIVE THEM SOME TYPE OF CRITERIA IDEA OF HOW THEY CAN WORK IT IN THEIR DEVELOPMENT AND STYLE AND WHETHER IT WORKS NUMBERS WISE FOR US, BECAUSE THE DEVELOPERS AREN'T GONNA DO IT FOR FREE.
SO THEY'RE GONNA HAVE WAYS THAT THEY WORK WITH THE 250 ACRES TO GET WHAT WE WANT.
STAFF, WHAT DO YOU RECOMMEND? SO LISTENING TO THE DISCUSSION, I FEEL LIKE THERE COULD BE AN OPPORTUNITY FOR STAFF TO SEND OUT COMMUNICATION AHEAD OF THE NEXT MEETING FOR YOUR REVIEW.
UM, THERE ARE ABOUT THREE MASTER PLANNERS THAT BASED ON CONVERSATION I THINK WOULD BE A GOOD FIT FOR THE BOARD TO REVIEW.
UM, IF YOU LIKE THOSE, WE CAN SCHEDULE THEM TO COME PRESENT, UM, AFTER CONFERRING WITH LEGAL TO SEE IN WHAT CAPACITY THEY CAN PRESENT.
UM, AND THAT'LL GIVE YOU A GOOD JUMPING OFF POINT TO KIND OF SEE THE CALIBER OF, OF PLANNERS THAT WE'RE BRINGING FORWARD AND WHAT THEY, WHAT THEY HAVE TO OFFER.
IF YOU'D LIKE TO START THERE, I THINK THAT'S A GOOD FIRST STEP IN MY OPINION.
OKAY, WELL, IF THEY HAVEN'T DEVELOPED A PROJECT OF SIMILAR SIZE AUTOMATICALLY OUT, I, I'M SORRY.
JUST THEY DON'T, THEY HAVEN'T DONE IT BEFORE.
YOU KNOW, IF YOU'RE LIKE, OH, I'VE DONE 50 ACRES, OKAY, THAT'S GREAT.
THIS IS, YOU KNOW, FIVE TIMES THE SIZE OF THAT.
SO THAT'S, TO ME THAT'S, YOU KNOW, HARD STANCE NUMBER ONE.
NUMBER TWO WOULD BE APPROPRIATE REFERENCES AND ALSO JUST WHAT BOOK OF BUSINESS ARE THEY GOING TO BRING AND WHAT HAVE THEY DONE PREVIOUSLY.
BECAUSE I THINK WHAT YOU CAN FIND OUT MORE SO THAN ANYTHING IT WOULD BE, AND, AND YOU KNOW, IF, IF SIMON PROPERTY GROUP CAME IN AND BE LIKE, OKAY, WELL HEY, WELL TELL ME ABOUT WHAT YOU'VE DONE.
WE'VE GOT THE DOMAIN, WE'VE DONE THIS, WE'VE DONE THAT LIST GOES ON AND ON.
OKAY, WELL, YOU KNOW, CLEARLY, CLEARLY THEY'RE CAPABLE OF IT.
UM, BUT WE JUST NEED TO FIND THOSE, UH, THOSE RIGHT TO, UH,
I'LL ADD, I'M SORRY, I'M SORRY.
ONE LAST THING WHILE YOU BROUGHT THAT UP.
AND IT'S ALSO RELEVANT THAT IT IS BEEN DONE WITHIN LIKE THE PAST FIVE YEARS, FIVE, 10 YEARS MAYBE AT THE MOST.
BECAUSE A LOT OF THEM WILL JUST LIKE, REST ON THEIR LAURELS AND THEY'LL SHOW YOU STUFF THAT THEY'D DONE IN THE EIGHTIES, RIGHT? MM-HMM.
AND I THINK THAT THAT'S VERY IMPORTANT BECAUSE AS THE LANDSCAPE CHANGES, OUR NEEDS ARE DIFFERENT BECAUSE FOR ONE, WE'RE OFF 79 WHERE YOU'RE ASKING THIS PROPERTY TO BE DEVELOPED.
SO IT'S A LOT OF DIFFERENT NUANCES THAT ARE TO OUR PROPERTY.
IT'S NOT JUST DEVELOPED IN 250 ACRES.
SO I THINK THAT THAT'S RELEVANT THAT WE MAKE SURE IT'S NOT A PRO FORMA STATEMENT.
THERE'S ACTUALLY A COMPLETED TRANSACTION THAT'S VERIFIABLE FOR THAT AMOUNT OF ACREAGE.
WELL, BUT ALSO TOO, TO PIGGYBACK ON THAT WOULD BE, I WANNA SEE ACTUAL VERTICAL CONSTRUCTION 100% BUILT OUT.
UM, BECAUSE WHAT I DON'T WANT TO SEE WOULD BE, HEY, I'VE GOT ALL THESE PRETTY PICTURES, BUT WE HAVEN'T DONE ANYTHING WITH IT YET.
YOU KNOW, ONE PROPERTY THAT KIND OF COMES TO MIND WITH THAT WOULD BE, UM, WHERE THE TARGET IS OVER IN ROUND ROCK, OFF OF, UH, 35 AND 45 BEST BUYS OVER THERE.
THERE USED TO BE A SPORTS WAREHOUSE.
WELL, A PART OF THAT SHOPPING CENTER WAS ACTUALLY NEVER DEVELOPED IN THAT SOUTHEAST CORNER.
IT'S SUPPOSED TO BASICALLY BE WRAPPED AROUND AND IT NEVER DID.
SO, YOU KNOW, JUST WORKING THROUGH ALL OF THOSE THINGS AND GOING, OKAY, HEY, IF THEY SAY THEY'RE GOING TO DO THIS, CAN THEY ACTUALLY DO THAT? AND THEN WE GO FROM THERE.
IT, IT SHOULD BE EASY TO BE ABLE TO SAY, 10 YEARS AGO THIS LOOKED LIKE THIS.
AND THEN GOOGLE EARTH OVER THE YEARS WHERE WE SHOULD BE ABLE TO SEE THE PROGRESSION OF WHAT YOU'VE DONE.
CHENEY CAN, I ALSO, I I DON'T KNOW HOW WE'RE GONNA DO THIS.
I, I MEAN, MY RECOMMENDATION WAS, YOU KNOW, HAVE A MEETING THREE OF US AND WE CAN KIND OF ROTATE OUT AND MEET DIFFERENT DEVELOPERS AND OR THREE OF THE SUBCOMMITTEE CAN JUST DO THEIR OWN AND GO MEET ALL THREE AND THEN BRING THE BEST BACK TO THE BOARD AND HAVE 'EM DO A PRESENTATION.
BUT MAY I, MAY I MAKE SURE THAT, CAN YOU MAKE SURE THAT WE AT LEAST INVITE COUNCIL? 'CAUSE I KNOW THEY'RE GONNA BE A BIG PART OF THIS AS WE GO DOWN THE ROAD.
AND IT'S IMPORTANT THAT THEY'RE, I I FEEL LIKE IT'S IMPORTANT THAT THEY ARE THERE AT STEP ONE.
AT LEAST PROVIDING INPUT AND SEEING SOME CLARITY ON, ON WHAT WE'RE DOING.
[00:45:01]
I MEAN, ISN'T, ISN'T THAT WHY MEMBER THOMPSON IS ON THIS BOARD THOUGH, TO REPRESENT THE COUNCIL? SO TO ME THAT'S, HE'S, I'M I'M A LITTLE LEERY ABOUT OPENING IT UP TO THE ENTIRE COUNCIL JUST BECAUSE OF THE PERSONALITIES INVOLVED.UM, NO OFFENSE TO ANY COUNCIL MEMBER.
UM, BUT WHAT I
YOU'RE, YOU'RE STILL GONNA HAVE TO GET TO THAT ANYWAYS, AS SOON AS IT, IT ENDS UP GETTING PAST US.
IT, WE'RE NOT, WE'RE NOT GOING PAST THAT.
BUT YOU'D RATHER FOR IT TO GET TO THAT POINT.
BUT ONCE YOU BRING ALL HANDS IN THIS KITCHEN, I'M NOT SAYING ALL HANDS SHOULD COME TO THE MEETING.
I THINK THAT IT'S IMPORTANT TO GET, YOU KNOW HOW I'M JUST SAYING I GOT WHAT YOU'RE SAYING.
I JUST, I WOULD RATHER TACKLE THAT UPFRONT VERSUS GET US ALL, HAVE US DO A BUNCH OF HOMEWORK AND THEN TO HAVE IT COME BACK AND IT'S LIKE, NAH, RESTART, AND THEN GO BACK TO THE BEGINNING OF EVERYTHING.
BUT THE, THE REASON WHY I SAY THAT, UH, HAS EVERYTHING TO DO WITH THE LAST COTTONWOOD MEETING, JOINT MEETING BETWEEN COUNCIL AND, UM, AND THE E D C.
UM, YOU KNOW, I THINK IT, SOME OF THAT STUFF CAN GO OFF THE RAILS REAL QUICK AND, YOU KNOW, UH, THIS IS MY OVERALL VIEWPOINT.
IF, YOU KNOW, MAYOR PERAM GORDON, WHO HAPPENS TO BE HERE, HE APPOINTED ME TO MY POSITION HOWEVER MANY YEARS AGO.
IF HE DIDN'T HAVE THE FAITH IN WHAT I DO UP HERE, YOU KNOW, TWICE A MONTH NOW, THEN I SHOULDN'T BE SITTING UP HERE AND HE SHOULD BE, OR HE SHOULD FIND SOMEBODY ELSE.
SO I VIEW ALL OF THIS AS WE ARE AN EXTENSION OF WHOMEVER APPOINTED US.
AND, YOU KNOW, AND THAT'S BASICALLY WHERE IT LIES.
UM, YOU KNOW, IF, IF THEY DON'T LIKE IT, THEY'RE MORE THAN WELCOME TO ATTEND OR DO WHATEVER, BUT I JUST, I DON'T WANT TO PUT SO MANY PEOPLE IN A ROOM THAT THEY'RE TRYING TO, YOU KNOW, EVERYONE HAS THEIR OWN PARTICULAR INTEREST AND NEED AND SO ON AND SO FORTH.
BUT AT THE END OF THE DAY, WE'VE GOTTA GET THIS PROPERTY DEVELOPED AND THE MORE PEOPLE WE INCORPORATE INTO IT, JUST THE LONGER IT'S GONNA TAKE.
THERE ARE GONNA BE PARTS WHERE WE ARE GOING TO NEED INPUT FROM VERY, FROM A VARIETY OF STAKEHOLDERS.
SOME OF THOSE CAN RANGE FROM CITY STAFF.
SOME OF THAT COULD ALSO BE COUNCIL.
SOME OF THAT COULD BE, I MEAN, EVEN JUST E D C THEMSELVES, IT ALL DEPENDS.
BUT I JUST, I JUST CAUTION THAT TO BE LIKE, KEEP THE GROUP SMALL TO MAKE A DECISION AND MOVE ON.
BUT YEAH, AND I TOTALLY AGREE.
'CAUSE YOU KNOW, I KNOW THERE WAS COMMENTS MADE ABOUT WHAT HAD BEEN HAPPENING FROM JANUARY TO JUNE, AND SO I UNDERSTAND, BUT I THINK LET'S JUST KIND OF TAKE FIVE OR SIX MORE STEPS BEFORE WE HAVE TO GET THERE.
INSTEAD OF GETTING BOGGED DOWN ON DAY ONE, IT, IT'S EASIER TO SAY, HERE'S A PRETTY PICTURE OF WHAT WE'VE COME UP WITH, VERSUS HERE'S A BLANK SLATE, EVERYBODY GET A CRAYON.
THAT'S WHERE I THINK IT REALLY CAN START TO GO SIDEWAYS, JUST IN MY OPINION.
I THINK IF WE CAN SAY, HERE'S THE OVERALL VISION, THERE MIGHT BE A COUPLE TWEAKS OR SLIGHT CHANGES HERE OR THERE, AND THAT'S PERFECTLY FINE.
BUT THERE'S AT LEAST LIKE A WIRE FRAME.
HEY, HERE'S HOW EVERYTHING'S GONNA ROUGHLY, LOOK, WE'RE PUTTING THIS HERE, WE'RE DOING THIS.
AND I WOULD SUGGEST MAYBE GETTING SOME TYPE OF, UH, SCHEDULE, YOU KNOW, UM, WE'RE MEETING HERE, WE'RE GONNA DO THIS THREE, FOUR OR FIVE, AND THEN WE GET TO STEP SIX OR SOMETHING.
WE, WE BRING EVERYBODY, UH, TOGETHER.
I'D ALSO, I AM VERY, UM, INTERESTED IN THE, UH, PROCESS AND WANNA BE TRANSPARENT IN OUR SELECTION PROCESS.
MEANING IT SOUNDS LIKE THERE'S ALREADY PEOPLE THAT WE'VE BEEN TALKING TO, 12 TO 15 PEOPLE.
SO, UM, HOW DO THOSE, I MEAN, I DON'T NEED TO KNOW EXACTLY LIKE HOW ALL THOSE PEOPLE CAME TO US, BUT ALSO MAKING SURE THAT WE'RE INVITING LIKE, THE MAJOR PLAYERS IN THE AREA.
IT'S NOT JUST THE PEOPLE THAT WE'VE SPOKEN TO IN-HOUSE, BUT THAT IT'S GOING TO BE A BID FOR ALL THE MAJOR PLAYERS AND G AND, UH, DEVELOPERS.
SO I DON'T KNOW HOW THAT WORD EVEN GETS OUT OR HOW THAT'S EVEN POSSIBLE, BUT LIKE, JUST MAKING SURE THAT WE'RE THE SELECTION PROCESS OF WHO IS EVEN INVITED IS OPEN.
NOT JUST, YOU KNOW, WE HA WE KNOW THIS PERSON OR WE KNOW THAT PERSON, YOU KNOW, SO I DON'T, IS THERE A WAY TO DO THAT, TO INVITE PEOPLE AND THEN YOU COULD DO THE PROCESS OF, OH, THEY HAVEN'T DONE THIS MULTI DEVELOPMENT BEFORE AND YOU CAN WINDLE DOWN THOSE COMPANIES.
I, I WOULD REMIND THE BOARD THAT SINCE THE BOARD PURCHASED THE LAND IN MARCH AND THEN TOOK IT TO I C S C, THOSE HAVE BOTH HAD SIGNIFICANT MEDIA COVERAGE.
AND THE LEVEL OF INTEREST IN DEVELOPING THESE PROPERTIES FROM A VARIETY OF USE TYPES, UM, HAS BEEN CONSISTENTLY HIGH.
AND SO WITH REGARD TO, TO SECURING MAJOR PLAYERS, I DON'T FEEL LIKE THAT'S GOING TO BE A PROBLEM AT ALL.
WE DO HAVE SOME VERY LARGE, UM, DEVELOPERS INTERESTED IN MASTER PLANNING THIS,
[00:50:01]
THIS PROPERTY AS WELL.SO, AND, AND REALLY FOR, FOR ME, WHERE, YOU KNOW, WE MAINTAIN TRANSPARENCY IS WHAT WE'VE BEEN TALKING ABOUT, WHICH IS THE PROPOSAL SUBMISSION AND THAT'S, HEY, WHAT HAVE YOU DONE PREVIOUSLY? SHOW ME YOUR BOOK OF BUSINESS.
GIMME SOME REFERENCES FOR PEOPLE TO TALK TO.
THOSE ARE ALL THE THINGS THAT YOU CAN WAIT AND SCORE IF YOU REALLY WANT TO, TO BE ABLE TO GO.
IT, IT, IT'S, IT'S YOUR INTERVIEW, RIGHT? EFFECTIVELY.
SO YOU CAN, YOU KNOW, RANK AND SPANK, HEY, THIS PERSON OR, OR THIS ENTITY GREAT HERE.
OVERALL THIS ONE SCORED A A 92, YOU KNOW, OUT OF, YOU KNOW, A HUNDRED.
THIS ONE SCORED 89 OUT OF A HUNDRED.
WELL THIS 92 CLEARLY IS BETTER.
AND I THINK FROM, UH, MR. COLEMAN POINT TOO IS LIKE THE VIBE.
IT'S JUST GETTING THESE PEOPLE IN FRONT OF US AND JUST KIND OF GET A FEEL OF HOW WE'RE GONNA BE ABLE TO WORK.
UH, BECAUSE THIS IS WHAT BOB 10, YOUR PROJECT, SO EXACTLY.
AND ONCE CHENEY MENTIONED, UH, THE, THIS IS LIKE OUR LEGACY PART, LIKE THAT REALLY HITS HOME.
SO LIKE, I REALLY DON'T WANT MY NAME ATTACHED TO SOMETHING THAT PEOPLE SAY, OH GOD, THAT GUY, YOU REMEMBER WHEN I
WE'RE ALWAYS GOT TRAFFIC ON COLEMAN AVENUE.
I'LL JUST POINT OUT THAT, UH, DEPENDING ON THE LEVEL OF INTERACTION Y'ALL WANT TO HAVE WITH THESE PEOPLE THAT COME TO PRES PRESENT, THAT CAN, THAT AFFECTS WHETHER OR NOT IT WOULD BE AN OPEN SESSION OR AN EXEC SESSION DEPENDING ON WHAT Y'ALL WANTED TO ASK ABOUT SAYING ALL THAT.
SO I WOULD TRY TO KEEP, AND I WANT TO, YOU KNOW, PUT AS MUCH OUT THERE IN FRONT OF THE PUBLIC AS POSSIBLE, BUT I WOULD HIGHLY RECOMMEND, AT LEAST INITIALLY, SO WHEN YOU DO GOVERNMENT, YOU KNOW, BIDDING, YOU KNOW, AS A SUBCONTRACTOR, MORE TIMES THAN NOT, IT'S DONE VIA, YOU KNOW, SEALED BID.
SO, YOU KNOW, THIS ISN'T A, HEY, WE'LL COME IN, LET'S LOOK AT SO AND SO, OR WELL, NO, LET'S LOOK AT THIS.
NO, IT'S, HEY, YOU HAVE UNTIL 5:00 PM ON SUCH AND SUCH DATE.
YOUR ENVELOPE HAS TO BE LABELED WITH X, Y, AND Z.
AND IF YOU DON'T DO THIS ONE THING, I DON'T CARE WHAT IT IS, YOU COULD BE, YOU KNOW, THE BEST MASTER DEVELOPER IN THE WORLD.
OUT YOU GO IS THAT, YOU KNOW, UH, THAT STRUCTURED AND THAT, UH, CUTTHROAT.
SO WE CAN GO TO THAT LEVEL IF WE WANT.
UM, BUT I THINK WE JUST NEED TO MAKE SURE THAT WE JUST KEEP IT AS SIMPLE AS POSSIBLE YET, YOU KNOW, UH, ASCERTAIN AS MUCH INFORMATION AS WE CAN.
FEEL GOOD WITH THAT, CHENEY? YES.
ALRIGHT, SO NO ACTION ON FIVE THREE AT THIS TIME.
EASY 1 5 4, DISCUSS AND CONSIDER ACTION TO APPROVE THE MINUTES FROM THE CORPORATIONS MEETING ON SEPTEMBER 11TH, 2023.
ANYONE? ANYONE? MR. CHAIRMAN, I WILL MAKE THE MOTION TO APPROVE THE MINUTES FOR SEPTEMBER 11TH, 2023 AS PRESENTED.
SECOND, WE HAVE A MOTION BY VICE CHAIR LUCAS TO APPROVE MINUTES AS PRESENTED.
SECONDED BY BOARD MEMBER MINTON.
WILL NOW RECESS THE OPEN MEETING AND RECONVENE AN EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODE SECTION 5 5 1 0 7 1 ATTORNEY CONSULTATION 5 5 1 0 8 7 ECONOMIC DEVELOPMENT AND 5 5 1 0 7 2 REAL PROPERTY DELIVERY AND SEEK LEGAL ADVICE REGARDING RETAIL AND RESTAURANT INCENTIVES.
PARADIGM EXPANSION PROJECT IN Q TWO PROJECT, SEQUEL PROJECT, CHICAGO FINE ROAD CONSTRUCTION PROJECT, MEGASITE PROJECT, PROJECT MARGARITA PROJECT PRIMERO PROJECT STRAT THREE PROJECT FLEX THE COTTONWOOD PROPERTIES PROJECT CG TWO DOWNTOWN DEVELOPMENT AND INCENTIVE OPPORTUNITIES PROJECT 44 PROJECT.
POSSIBLE LITIGATION WITH B C L OF TEXAS, THE EVALUATION OF AVAILABLE CORPORATE FUNDS FOR INCENTIVES AND PURSUANT TO, UH, SECTION 5 5 1 0 7 1 ATTORNEY CONSULTATION.
DELIBERATE AND SEEK LEGAL ADVICE, UH, REGARDING AMENDING THE CORPORATE BYLAWS.
SIDE EFFECTS MAY INCLUDE SIDE EFFECTS.
WE HAVE RETURN FROM EXECUTIVE SESSION, UH, ITEM EIGHT, OR EXCUSE ME, SEVEN ONE DISCUSSING CONSIDER ACTION REGARDING THE TIMELINE TO AWARD THE CONSTRUCTION CONTRACT FOR THE CONSTRUCTION OF THE SPINE ROAD OF THE MEGASITE.
THERE IS NO ACTION ON THIS ITEM.
ITEM SEVEN TWO, DISCUSS AND CONSIDER ACTION REGARDING THE SECOND AMENDMENT TO THE PURCHASE AND SALE AGREEMENT FOR PROJECT PRIMERO.
I MOVE, WE TERMINATE THE EXISTING P SS A FOR PROJECT PRIMERO SECOND, UH,
[00:55:01]
OR NO ACTION.YEAH, I'D LIKE TO POINT OUT THE, UH, THE MOTION.
HE CHAIRMAN MINTON MADE THE MOTION TO TERMINATE THE P SS A AND I BELIEVE THE, UH, AGENDA ITEM IS REGARDING AMENDING WHETHER OR NOT TO AMEND, UH, THE P S A.
SO THE PROPER MOTION WOULD BE TO REJECT YEAH.
THE MOTION WOULD BE NOT TO ENTER INTO THE SECOND AMENDMENT TO THE PURCHASE AND SALE AGREEMENT.
SO WE HAVE A MOTION BY BOARD MEMBER MINTON, SECONDED BY BOARD MEMBER OWENS.
THIS IS TO, UH, NOT EXECUTE THE SECOND AMENDMENT OF THE PURCHASE SALE AGREEMENT.
RAMIRO, UH, OPEN UP FOR DISCUSSION.
SO ITEM SEVEN THREE, DISCUSS AND CONSIDER ACTION REGARDING THE OWNER AUTHORIZATION FORM FOR PROJECT RAT.
ANYONE? ANYONE? I WILL MAKE A MOTION TO APPROVE 7.3 AS PRESENTED.
UH, THE LANGUAGE TO APPROVE AS PRESENTED IN COUNCIL, UM, WOULD BE A MOTION TO APPROVE AN OWNER'S AUTHORIZATION LETTER AUTHORIZING SHELLY MITCHELL OF PAY DAWSON ENGINEERS TO ACT ON CORPORATION'S BEHALF.
I'LL BE HONEST, I CAN'T REMEMBER.
FOR BEHALF OR PROCESSING AND APPROVAL.
I'LL PER LEGAL ADVICE, I'LL LIKE TO MAKE A MOTION TO APPROVE AS LEGAL HAS PRESENTED THAT CLOSE ONE FOR YOU.
YOU WANT THE WHOLE THING? THAT'S CLOSE ENOUGH.
ALRIGHT, WE HAVE A MOTION BY TREASURER COLEMAN.
I'LL SECOND IT, THEN SECOND IT BY VICE CHAIR LUCAS.
THERE IS NO ACTION ON SEVEN FOUR DISCUSSING CONSIDER ACTION REGARDING THE POSSIBLE ALLEGATION WITH B C L OF TEXAS.
AND THEN ON SEVEN FIVE DISCUSSING CONSIDER ACTION ON ANY OTHER ITEM DISCUSSED IN EXECUTIVE SESSION.
THAT TAKES US TO ITEM EIGHT, FUTURE AGENDA ITEMS. UH, GO AHEAD AND OPEN IT UP.
DO, ARE THERE ANY ITEMS THAT NEED TO BE ADDED FOR OUR NEXT MEETING OR ANY SUBSEQUENT MEETINGS? THIS IS JUST THAT WE ARE GOING TO DISCUSS THE PROCESSES AND PROCEDURES FOR INVOICING.
YEAH, WE'VE ALREADY TALKED ABOUT THAT, BUT JUST ANYTHING BEYOND THAT.
IT'S JUST A FOUR OF 'EM TO SAY HEY, I WANNA TALK ABOUT THIS NEXT MEETING.
IT GIVES YOU A PLACE TO DO IT.
HEARING NONE AND NO OTHER ITEMS ON THE AGENDA, WE ARE ADJOURNED AT 8 57.