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SHANE, YOU READY? YES.[(EDC) Board Meeting/(CDC) Board Meeting]
ALRIGHT.THE TIME IS SIX THIRTY FOUR AND I CALL THIS REGULARLY SCHEDULED HEAD OF ECONOMIC DEVELOPMENT CORPORATION TYPE A AND TYPE B BOARD DIRECTORS MEETING ORDER ROLL CALL PLEASE.
PRESENT VICE CHAIR LUCAS PRESENT.
PRESENT BOARD MEMBER OWENS HERE OUTTA THE 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 AND INDIVISIBLE WITH LIBERTY AND JUSTICE.
I PLEDGE ALLEGIANCE TO THE TEXAS ONE STATE UNDER GOD.
ALRIGHT, ITEM FOUR, PUBLIC COMMENT.
DO WE HAVE ANYBODY SIGNED UP? NO, SIR.
UM, ONTO MR. CHAIRMAN, CAN WE YES, SIR.
UM, IF IT'S, UH, IF EVERYBODY AGREES, CAN WE MOVE UP ITEM SIX ONE ABOVE THE ECONOMIC DIRECTOR REPORT, PLEASE.
HEARING NONE, WE WILL GO AHEAD AND DO SIX ONE THEN ON ONE SECOND.
DISCUSS, UH, ITEM SIX ONE, DISCUSS AND CONSIDER A PRESENTATION BY SECRET COMMERCIAL REGARDING THEIR DOWNTOWN DEVELOPMENT PROJECT.
I THINK WE'RE JUST WAITING ON TVS.
YES, THERE'S NEW, UH, NEW ADVANCED TECHNOLOGY HERE.
HEY JAMES, DO YOU REMEMBER HOW TO GET THIS DIS DID IT GO OVER THIS WITH YOU? NO, I HAVEN'T BEEN CHECKED.
I CAN SEE IF I CAN AMANDA OR SOMEONE.
I DON'T THINK I WANNA DO, I THINK THAT'S BACK THERE.
WELL, YEAH, I'M NOT SURE I KNEW HOW TO DO IT BEFORE THEY GAVE US THE COOL STUFF.
I MESSAGED AMANDA, ANGELA DATED THE CASE.
I JUST DIDN'T KNOW IF YOU WANTED THE PROJECTOR ON.
IT'S JUST NOT FINDING THE APPROPRIATE SOURCE.
IS THIS THE SAME ONE THAT WAS SENT PREVIOUSLY? SAME PRESENTATION.
I WAS GONNA SAY 'CAUSE THEY DID RECEIVE THAT LAST TIME AS WELL.
IN LIGHT OF THE TECHNICAL DIFFICULTY, WOULD YOU LIKE TO HANDLE FIVE ONE AND THEN
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WHEN, WELL, I THINK SHE'S GONNA BE THE ONE THAT HAS TO GIVE THE DIRECTOR REPORT.UM, SHE CAN SLIDE OVER AND I'LL KEEP PLAYING WITH IT.
WILL WE ADDRESS THAT? SO ITEM FIVE ONE.
STAFF WILL PROVIDE UPDATES ON THE TEDC ANNUAL CONFERENCE, ATTENDED OCTOBER 11TH THROUGH THE 13TH, 2023 TEDC REGISTRATION FOR THE BOARD SALES TAX TRAINING BOARD, BOOK STUDY, SOFTWARE UPDATES, BUDGET IMPLEMENTATION, PERSONNEL, PREVIOUS AND FUTURE EVENT UPDATES.
JUST WANTED TO GIVE Y'ALL A FEW UPDATES THIS EVENING.
UM, I DID ATTEND THE TEDC ANNUAL CONFERENCE, UH, THE 11TH THROUGH THE 13TH OUT IN HOUSTON.
I WAS ABLE TO ATTEND, UH, SEVERAL SESSIONS THAT I THINK WILL BE REALLY HELPFUL FOR US MOVING FORWARD WITH THE PLANNING AND DEVELOPMENT OPPORTUNITIES BEFORE US.
UM, I ALSO WAS ACCEPTED INTO THE FUTURE LEADERS TRAINING PROGRAM AND WAS ABLE TO ACHIEVE THREE OF THE REQUIREMENTS FOR THAT PROGRAM ALL AT THAT ONE CONFERENCE.
UM, THERE WAS A LOT OF GREAT NETWORKING AND SOME, UM, REALLY GOOD LEARNING KEY SESSIONS THAT I WANTED TO SHARE WITH YOU.
UM, SPECIFIC TO THE WATER CRISIS IN TEXAS, MEANING SOURCE OF WATER, UM, LOOKING TO DESALINIZATION AS THE SOLUTION.
THAT WAS A REALLY INTERESTING SESSION.
UM, BUT I THINK WE'LL HEAR MORE AND MORE ABOUT THAT AS THE WEEKS AND MONTHS COME.
UM, I ALSO ATTENDED A SESSION ON BRANDING, UH, MAXIMIZING YOUR MARKETING BUDGET SO WE CAN BE NICE AND FRUGAL WITH OUR DOLLARS.
UM, A SESSION ON PACE, WHICH IS PROPERTY ASSESSED CLEAN ENERGY FINANCING, UM, FOR SOME SUSTAINABLE DEVELOPMENT PROJECTS.
ALSO SOME SESSIONS ON LEVERAGING INFORMATION AND DATA FOR EFFECTIVE ECONOMIC DEVELOPMENT AND OVERVIEW OF THE DEVELOPMENT LANDSCAPE IN TEXAS.
AND THEN DESIGNING BUSINESS AND INDUSTRIAL PARKS OF THE FUTURE, WHICH I THOUGHT WAS REALLY INTERESTING TOO AS WE'RE LOOKING AT THE MEGASITE DEVELOPMENT.
UM, AND THEN WE ALSO GOT AN, AN OVERVIEW OF HOT TOPICS WITH RAY PERRYMAN.
IF YOU'RE FAMILIAR WITH THE PERRYMAN GROUP, THEY DO A LOT OF RESEARCH, UM, IN ECONOMIC DEVELOPMENT AND HE'S A VERY WELL RESPECTED, RENOWNED SPEAKER ON THAT TOPIC.
SO IT WAS GREAT TO HEAR FROM HIM.
UM, I DID WANNA ASK IF THE BOARD WOULD LIKE A FORMAL PRESENTATION AT A FUTURE MEETING AS WELL.
SO ANYTHING, WHEN YOU WENT THROUGH THIS AND YOU LEARNED, OBVIOUSLY IT SOUNDS LIKE YOU LEARNED A LOT, UM, WAS THERE ANYTHING PARTICULAR THAT STOOD OUT AS SOMETHING THAT THE BOARD SHOULD BE LOOKING AT, YOU KNOW, FUTURE PLANNING WISE? IS THAT SOMETHING AND I GUESS THAT WOULD PROMPT A PRESENTATION? YEAH, I WOULD SAY PROBABLY THE, UM, PACE OPPORTUNITIES JUST BECAUSE THAT'S A DIFFERENT FINANCING TOOL THAT WE HAVEN'T EXPLORED BEFORE.
UM, AS WELL AS THE WATER CRISIS.
'CAUSE THAT'S GONNA IMPACT EVERY SINGLE DEVELOPMENT THAT WE HAVE IN THE CITY, WHETHER THAT BE ECONOMIC DEVELOPMENT DRIVEN FOR RETAIL OR INDUSTRIAL OR RESIDENTIAL.
SO I THINK IT'D BE HELPFUL TO HAVE SOME MORE DETAIL ON THAT.
UM, AND THEN A LITTLE BIT OF WHAT I LEARNED FROM THE BUSINESS INDUSTRIAL PARKS OF THE FUTURE, AGAIN, JUST BECAUSE OF ITS RELEVANCE TO WHAT WE'RE DOING AT THE MEGA SITE WOULD BE RECOMMENDATION, PRESENTATION, ENCOMPASS THOSE THREE THINGS AND JUST KIND OF LIKE HOW WE CAN MOVE FORWARD.
AND, YOU KNOW, WITH THOSE LEARNINGS, IT'S GREAT TO GET AN UPDATE ON CLEAN ENERGY, BUT WHAT ARE SOME THINGS THAT YOU'RE SEEING IS SOME OF THE LOCAL TOWNS OR JUST SOME OF THE INDUSTRY TRENDS? MM-HMM.
UM, THEN TEDC BOARD REGISTRATION.
SO YOU GUYS AUTHORIZED, UH, IN THE BUDGET FOR EVERY ONE OF YOU TO BE MEMBERS OF TEDC, WHICH IS A TEXAS ECONOMIC DEVELOPMENT COUNCIL.
UM, SO I WILL BE SENDING Y'ALL A LINK TO REGISTER.
UM, AND THEN IF YOU CAN JUST SEND ME YOUR, UM, REGISTRATION RECEIPT AND WE'LL PROCESS THAT FOR REIMBURSEMENT.
AND IT'S AN ANNUAL MEMBERSHIP FOR THAT.
UM, LOTS OF GOOD TRAINING RESOURCES ON THERE.
THEY HOLD A LOT OF DIFFERENT WEBINARS AND THEN THEY HAVE A LOT OF ARCHIVED INFORMATION TO PREVIOUS WEBINARS THAT THEY'VE DONE.
UM, JUST A LOT, A LOT OF RESOURCES AVAILABLE TO YOU ON THERE.
UM, THEY THINK WILL BE REALLY HELPFUL.
KENNY, IS THAT STUFF, IS THAT TYPE OF TRAINING, IS IT FREE? IS IT SOMETHING WE COULD EASILY GET ACCESS TO? LIKE A LIBRARY STUFF LIKE? YES, SO IT'S BOTH.
SO THE NEW TRAININGS THAT THEY HAVE COMING OUT ARE TYPICALLY WEBINARS AND ONCE YOU'RE A MEMBER, THEY HAVE MEMBER PRICING.
IT'S USUALLY $79 PER WEBINAR SESSION.
UM, BUT THEY DO HAVE AN ARCHIVE OF LIBRARY, ESSENTIALLY OF RESOURCES OF PAST WEBINARS THAT ARE NOW FREE.
UM, AS WELL AS JUST CONTENT AND ARTICLES AND THINGS LIKE THAT THAT ARE CURATED FOR VARIOUS TOPICS.
IS THAT SOMETHING WE COULD GET A LINK TO? AND THEN, UH, I THINK YOU HAVE TO BE A MEMBER IN ORDER TO SEE ALL OF IT.
UM, BUT LIKE I SAID, YOUR MEMBERSHIP IS INCLUDED WITH YOUR BUDGET THIS YEAR.
SO ONCE YOU REGISTER, YOU SHOULD HAVE ACCESS TO ALL OF THAT.
YEAH, IF WE COULD START THAT PROCESS AND MM-HMM,
AND I GUESS MY QUESTION WOULD BE IF
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IT, IF SOME OF THIS IS, UH, COST, YOU KNOW, IS IT SOMETHING THAT WE SHOULD GET PERMISSION OR TALK TO BEFORE WE GO OUT AND REGISTER FOR A COURSE THAT MAY BE 79 BUCKS OR SOMETHING?SO ANYTHING OUTSIDE OF THAT WOULD REQUIRE ADDITIONAL PERMISSION, UM, AND APPROVALS.
UM, SO ONE OF THOSE SUCH TRAININGS THAT WAS APPROVED IN THE BUDGET IS YOUR SALES TAX TRAINING.
SO, UM, THIS IS, UH, COMING UP QUICKLY AND IT DOES FILL UP.
SO THE IN-PERSON TRAINING IS DECEMBER 1ST.
AGAIN, I'LL SEND THAT INFORMATION OUT WITH THE LINK TO REGISTER FOR TEDC AS WELL.
UM, THE IN-PERSON TRAINING ON DECEMBER 1ST IS IN SOUTH AUSTIN.
UM, THEY DO HAVE AN ONLINE OPTION, UM, ON VARIOUS DATES FROM DECEMBER 4TH THROUGH THE 15TH.
BUT IN TALKING TO PEOPLE AT THE TEDC CONFERENCE, UH, THEY HIGHLY RECOMMEND THE IN-PERSON SALES TAX IS A LITTLE DRY OF A TOPIC TO BE DOING ONLINE.
SO IF YOU CAN ATTEND IN PERSON, THAT WAS HIGHLY RECOMMENDED.
SO, UM, I'LL SEND THAT INFORMATION AS WELL.
SO EACH OF YOU RECEIVED TONIGHT A COPY OF A BOOK CALLED COMMUNITY BY DESIGN.
THIS BOOK WAS RECOMMENDED BY THE CITY MANAGER AND OUR DIRECTOR OF DEVELOPMENT SERVICES AS A RESOURCE FOR US AS WE MOVE FORWARD WITH THE PLANNING AND DEVELOPMENT SPECIFICALLY FOR THE COTTONWOOD PROPERTIES.
SO, UM, THE PLAN IS TO READ ABOUT TWO CHAPTERS AND WE DON'T HAVE TO READ THEM IN ORDER.
UM, SO WE'RE GONNA PICK AND CHOOSE THE ONES THAT ARE MOST RELEVANT AND THEN KIND OF BACKFILL, UH, WITH THE REMAINDER.
SO THE ASSIGNMENT FOR NEXT TIME IS TO CHAPTERS ONE AND SEVEN IN THERE.
UM, THOSE WILL BE A GOOD JUMPING OFF POINT FOR US, I THINK MOVING FORWARD HERE.
UM, THIS FISCAL YEAR WE ADDED A MODULE CALLED PERSONAS LIVE TO OUR PLACER AI SUBSCRIPTION.
UM, I WILL DO A DEEPER DIVE WITH Y'ALL ONCE I HAVE AN OPPORTUNITY TO DIG INTO THAT.
BUT BASICALLY WHAT THAT DOES IS IT GIVES US A LOT OF, UM, VERY DETAILED INFORMATION ABOUT DIFFERENT SUBSETS OF OUR COMMUNITY AND THOSE THAT ARE MEANING WE HAVE A HIGHER POPULATION OF THAT PARTICULAR, UM, SEGMENT THAN OTHER PLACES IN THE COUNTRY.
AND IT GIVES US A LOT OF INSIGHT INTO THE TV SHOWS THEY WATCH, WHERE THEY LIKE TO SHOP, WHERE THEY LIKE TO EAT, WHAT THEY LIKE TO DO IN THEIR FREE TIME, ALL THESE THINGS.
SO IT'LL BE REALLY HELPFUL FOR US AGAIN AS WE START LOOKING AT THE TYPES OF USES THAT WE WANT OUT OF THE COTTONWOOD PROPERTIES AS WELL.
UM, ADDITIONALLY WE HAVE BLUE DOT, WHICH IS OUR NEW CRM SOFTWARE THAT HAS LAUNCHED, AND I'M WORKING TO GET ALL OF OUR PROJECTS UPDATED IN THERE SO THAT OUR NEW BRS PERSON CAN HIT THE GROUND RUNNING WITH THAT PLATFORM AND USING THAT FOR THEIR BUSINESS ENGAGEMENT.
UM, ACCOUNT MANAGEMENT, LINKEDIN LEARNING HAS LAUNCHED.
SO THIS WAS A THREE-WAY COST SHARE BETWEEN ECONOMIC DEVELOPMENT, HR, AND THE LIBRARY.
SO THE LIBRARY HAS LAUNCHED THAT.
SO EVERYONE WITH A HU LIBRARY CARD HAS ACCESS TO LINKEDIN LEARNING.
IF YOU'VE NOT CHECKED IT OUT, I WOULD HIGHLY ENCOURAGE YOU.
UM, THIS IS SOMETHING THAT WE'RE GONNA POSITION AS A RESOURCE FOR OUR BRE PROGRAM WITH THE NEW BUSINESS RESOURCE SPECIALIST ROLE AS WELL, UM, TO HELP OUR BUSINESSES UPSKILL THEIR INDIVIDUALS AND, AND RETAIN THEM.
BUDGET IMPLEMENTATION, THE MEMBERSHIPS I TALKED ABOUT AND TRAININGS, UM, WE'RE SCHEDULING THOSE AS SOON AS POSSIBLE AND SPENDING THOSE DOLLARS.
OUR BUDGET IS OUR ROADMAP FOR WHAT WE SAY WE'RE GONNA DO.
UM, IT'S PROOF THAT WE'RE ACTUALLY IMPLEMENTING, SO I DO WANNA MAKE THAT A PRIORITY.
SO IF YOU GUYS HAVE ANY QUESTIONS AT ANY TIME, UM, WE DO HAVE QUARTERLY MEETINGS INTERNALLY TO REVISIT KIND OF A STATUS CHECK ON WHERE WE ARE WITH THE BUDGET FOR THE YEAR, MAKE SURE THAT WE'RE EXECUTING ON THE THINGS THAT WE SAID WE WERE GONNA DO WITH OUR DOLLARS.
ALRIGHT, PERSONNEL, UH, INTERVIEWS START NEXT WEEK FOR BOTH THE DIRECTOR ROLE AND THE BUSINESS RESOURCE SPECIALIST POSITION.
SO I'LL KEEP YOU GUYS UPDATED ON THAT.
I KNOW WE MOVE SALARIES OUT OF ECONOMIC DEVELOPMENT CORPORATION BUDGET, BUT THEY ARE YOUR STAFF REPRESENTATIVE.
SO I WANNA MAKE SURE I KEEP YOU UPDATED ON THAT.
CHENEY URI, AND I THINK WE JUST TALKED ABOUT THIS ON THURSDAY OF LAST WEEK, IS IS THERE ANY INVOLVEMENT OF THE BOARD IN ANY OF THESE SELECTED POSITIONS? TO MY KNOWLEDGE, THEY WILL BE PANEL INTERVIEWS AND I'M NOT SURE WHO IS IN CHARGE OF SELECTING THOSE PANEL MEMBERS.
SO I THINK THAT IF THAT'S SOMETHING THAT THE BOARD WOULD LIKE, THE CITY MANAGER IS HERE AND CAN SPEAK TO THAT OR, OR TAKE THAT REQUEST TO HR.
UM, EDC BOARD CHAIR, VICE CHAIR CITIZENS OF HODO, JAMES ERP, CITY MANAGER.
UH, RIGHT NOW I DO NOT HAVE ANY BOARD MEMBERS SITTING ON THE PANEL TO INTERVIEW SINCE THEY'RE CITY STAFF.
UM, IT'S NOT COMPLETELY UNHEARD OF TO HAVE BOARD MEMBERS SIT IN ON KEY POSITIONS LIKE MAYBE PNZ IF YOU'RE DOING A PLANNING
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DIRECTOR OR A PARKS BOARD IF YOU'RE DOING A PARKS DIRECTOR, BUT IT'S ALSO NOT SOMETHING THAT'S VERY COMMON EITHER.SO IF IT'S A, IF IT'S AN SOMETHING THAT'S VERY STRONG OR IMPORTANT, YOU KNOW, TO THE BOARD, THEN Y'ALL WOULD JUST NEED TO LET ME KNOW THAT.
OTHERWISE I INTEND TO HANDLE IT LIKE I WOULD ANY OTHER VACANCY FROM ACM POLICE CHIEF ALL THE WAY DOWN.
I JUST THINK BACK TO THE LAST COUPLE OF DIRECTORS THAT WE'VE HAD.
WE'VE, YOU KNOW, TYPICALLY THE BOARD WAS ACTIVELY INVOLVED IN THAT.
WE HELPED WITH THE SELECTION AND I GET THAT, THAT IT'S CHANGED.
YOU KNOW, I, I GUESS IN MY MIND, THEY STILL REPRESENT OUR BOARD AND, AND HOPEFULLY IS DOING THE BIDDING OF OUR BOARD.
AND, AND I KNOW THAT I, I DON'T DOUBT YOUR ABILITIES TO PICK A VERY QUALIFIED CANDIDATE.
IT'S JUST, YOU KNOW, UM, I JUST, I WOULD'VE WANTED, HOPEFULLY WANTED OUR BOARD TO BE INVOLVED, AT LEAST ON THE DIRECTOR POSITION OF WHO'S REPRESENTING US.
YEAH, I'LL SECOND THAT BECAUSE FOR ME IT'S LIKE ON PAPER, IT'S, IT IS GREAT ON YOU ALL'S END, BUT THE WORKING RELATIONSHIP WITH US IS JUST AS VALUABLE.
AND ALSO GETTING A FEEL FOR THE PERSONALITY TYPE, BECAUSE YOU CAN GO FROM SOMEONE THAT'S SIMILAR TO BOB, BUT A DEVELOPER MAY HAVE A PARTICULAR RELATIONSHIP THAT WORKS BETTER WITH A DIFFERENT TYPE OF PERSONALITY.
NOT SAYING BOB'S PERSONALITY WAS ONE WAY OR THE OTHER, BUT DEFINITELY AS MUCH AS WE CAN BE INVOLVED, ESPECIALLY CONSIDERING WHAT WE HAVE AT STAKE OVER THE NEXT DECADE IS VALUABLE TO ME, AT LEAST FLY ON THE WALL.
I WOULD THINK ALSO, I DON'T KNOW IF THE WHOLE BOARD, BUT MAYBE THE CHAIR, VICE CHAIR, MAYBE SOME, A REPRESENTATIVE OF THE BOARD COULD BE IN THE ROOM JUST TO HEAR THE CONVERSATIONS, TO GET AN IDEA OF WHAT TO EXPECT.
YOU KNOW, WHEN THAT PERSON COMES ON BOARD, WE ALREADY HAVE AN IDEA OF WHO THAT PERSON IS, KIND OF WHAT THEIR PHILOSOPHY, THE QUESTIONS THAT YOU GUYS ASK.
I THINK IT WOULD BE HELPFUL FOR THE BOARD TO JUST KIND OF KNOW ONCE THEY HIT THE GROUND RUNNING.
SO, UM, I MEAN, I'M HAPPY TO EXTEND THE INVITATION TO THE CHAIR AND THEN HE CAN DECIDE, YOU KNOW, WHAT HE WOULD LIKE TO DO, UM, TO ADD IN.
BUT I, BUT I WILL NOTE THAT PART OF WHAT FORMED MY OPINION ON THIS ONE IS, YOU KNOW, CERTAINLY THE SEPARATION, BUT WHAT FORMED MY OPINION ON THIS IS BACK WHENEVER WE WERE FILLING THE POSITION THAT, THAT MS. GABO IS CURRENTLY IN THIS BOARD SAID, ABSOLUTELY NO WAY DO WE WANNA HAVE ANYTHING TO DO WITH ANY OF THIS.
WE WANT YOU TO MAKE THE DECISION, MR. CITY MANAGER, BECAUSE YOU DIDN'T WANT TO HAVE ANY CONFLICTS OR ANY OTHER, OR ANY OF THOSE OTHER TYPES OF THINGS IN THE DECISION.
SO THAT DID FORM MY OPINION, BUT IF YOU DO WANT TO BE IN ON IT, I MEAN, I DON'T MIND HAVING A PERSON JOIN THE PANEL.
UM, WE'LL JUST EXTEND THE INVITATION, UH, TO THE CHAIR.
I, I THINK THE REASON FOR THAT WAS THAT WE KNEW CHENEY WAS WE, WE SAT NEXT, I SAT NEXT TO CHENEY, RIGHT? MM-HMM.
AND THE LAST THING I WANTED WAS A PERCEPTION OF, OR THE BOARD TO EVEN HAVE A PERCEPTION OF, HEY, WE HANDPICKED CHENEY.
THERE WAS PEOPLE IN THE PAST THAT WERE PUT ON THE, ON ON BOARDS AND MM-HMM.
AND IN POSITIONS LIKE THAT, THAT THAT, THAT COULD HAVE EASILY BEEN POINTED TO YOU WERE NEWER.
IT WAS LIKE, HEY, WHY DON'T WE GIVE, THAT WAS THE REASON FOR THAT.
IT WASN'T LIKE, WE DON'T WANNA BE INVOLVED IN HIRING, WE DON'T WANNA BE INVOLVED IN STAFFING.
IT WAS MORE OF ARMS LENGTH AWAY IF YOU'RE GONNA PICK THE QUALIFIED CANDIDATE, EITHER A OR A, AND, AND, AND WE'RE FORTUNATE THAT IT CAME OUT AS CHENEY, BUT WE DIDN'T WANT IT TO BE SKEWED OR PERCEIVED THAT WE HAD AN INFLUENCE OVER THAT.
SO THAT'S THE REASON WHY WE, WELL, IT MIGHT SURPRISE YOU, BUT IT'S VERY PLAUSIBLE THAT MS. GAMBOA MIGHT BE A CANDIDATE FOR THE EXECUTIVE DIRECTOR POSITION.
WELL, IT'S A LITTLE DIFFERENT NOW, RIGHT? I, IN MY OPINION, IT'S, I I DON'T KNOW THAT IT IS.
I MEAN, YOU KNOW, THERE, YOU KNOW, THIS POSITION'S A CITY STAFF POSITION, SO IT'S BASICALLY THE SAME SIT SITUATION, SAME SCENARIO WHERE IF YOU FELT LIKE YOU MIGHT HAVE SOME SORT OF CONFLICT OR YOU MIGHT BE ACCUSED OF SOME SORT OF CONFLICT, I, I COULD CERTAINLY SEE THAT IT WOULD BE EXACTLY THE SAME.
BUT AT THE SAME TIME, I'M NOT OPPOSED TO EXTENDING THE INVITATION AND HAVING A MEMBER OF THE BOARD, YOU KNOW, COME SIT IN ON THE PANEL.
I, I GUESS WHAT I'M THINKING IS JUST BEING IN THE ROOM, NOT NECESSARILY HAVING A DECISION MAKING.
I THINK THAT STILL GOES TO YOU.
I JUST THINK THAT MAYBE HAVING SOMEONE JUST LISTENING TO THE DIFFERENT CANDIDATES, AND ONCE AGAIN, KNOWING WHO YOU GUYS PICK, WE KIND OF HAVE AN IDEA OF WHAT TO EXPECT WITH THE NEW PERSON INSTEAD OF YOU HIRING THEM, AND THEN THEY JUST SHOW UP.
SO, YEAH, MOST, MOST HIRING PANELS, UM, IT'S NOT LIKE A, IT'S NOT LIKE A DEMOCRACY.
I MEAN, WE CERTAINLY TAKE FEEDBACK FROM EVERYONE, BUT AT THE END OF THE DAY, IT'S THE, THE SENIOR PERSON IN THE ROOM'S DECISION.
SOMETIMES IT'S A DEPARTMENT HEAD OR SOMEONE ELSE.
UM, IT'S CERTAINLY THE ADVISEMENT'S TAKEN IN.
SO, ON THAT NOTE, YEAH, I DON'T, I DON'T HAVE, I DON'T TAKE ISSUE WITH IT.
I'M JUST EXPLAINING WHERE WE, HOW WE ENDED UP WHERE WE'RE AT.
SO I'LL EXTEND THE INVITATION TO, TO YOU, MR. CHAIR, AND THEN YOU CAN DO WITH IT AS YOU LIKE.
AND JUST FROM A PUBLIC PERCEPTION STANDPOINT, 'CAUSE WHEN PEOPLE SEE ANY OF US AND THEN WHOEVER'S CHOSEN, THEY'RE GONNA LOOK AT, LOOK AT AS IF WE CHOSE THAT SPECIFIC PERSON.
SO IT'S JUST MORE OF A JUST WANTING TO BE ABLE TO SAY LIKE, NO, IT WAS A THOROUGH PROCESS.
WE WERE A PART IN TERMS OF LISTENING, BUT WE HAD NO, SO IT'S JUST MORE LIKE A FLY
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ON THE WALL, BUT ALSO TO ALLOW FOR A PUBLIC PERCEPTION TO STILL REMAIN INTACT.AND DON'S ALREADY VOLUNTEERED HIMSELF TO GO AHEAD AND BE A PART OF IT.
YEAH, I COULD HAND OUT TO ANYBODY.
YEAH, YOU HAD THE RIGHT TO END ANYTHING, ANYBODY.
THERE'S A COUPLE OPERATIVE WORDS IN THERE YOU MISSED
AND FINALLY, UH, PREVIOUS AND FUTURE EVENT UPDATES.
SO WE HAD THE RIBBON CUTTING FOR SEGMENT ONE OF 33 49 OR NOW CALLED THE EAST BICO HIGHWAY.
AND THEN, UH, I'LL BE GOING TO THE TEXAS DOWNTOWN CONFERENCE LATER THIS WEEK, UM, TO NETWORK WITH SOME FOLKS AND LEARN WHAT I CAN ABOUT DOWNTOWN DEVELOPMENT.
AS THAT BECOMES MORE OF A FOCUS, UM, AND MORE OF AN OPPORTUNITY, UM, HERE IN THE NEAR FUTURE.
UH, WE DID RECEIVE OUR ICSE BOOTH RESERVATION EMAIL.
SO EVEN THOUGH THAT'S NOT TILL THE END OF MAY, THEY ARE STARTING THE PROCESS NICE AND EARLY.
SO WE WILL HAVE SOME CONVERSATIONS AROUND PLANNING FOR THAT.
UM, HERE BEFORE TOO LONG, UH, WE ARE PLANNING A GROUNDBREAKING FOR THE SPINE ROAD DETAILS TO COME, BUT I DO WANNA MAKE SURE THAT THE BOARD IS IN ATTENDANCE OR REPRESENTATIVE OF THE BOARD.
THERE'S A SOFT OPENING FOR ACADEMY ON THE 13TH OF NOVEMBER.
THEY WILL HAVE A RIBBON CUTTING ON THE 17TH.
AGAIN, I THINK IT WOULD BE, UM, WONDERFUL TO HAVE BOARD MEMBERS IN ATTENDANCE FOR, UH, BOTH OF THOSE EVENTS.
UM, THE HU WINE BAR IS PLANNING TO OPEN LATER IN NOVEMBER.
UM, DETAILS TO COME ON THAT AS WELL.
SO, UH, ONCE I HAVE THOSE, I THINK THAT AGAIN WOULD BE A GREAT OPPORTUNITY TO SHOW UP AND SHOW OUT FOR THE COMMUNITY.
UM, ALSO, WILLIAMSON COUNTY GROWTH SUMMIT IS ON DECEMBER 7TH FROM 11 TO ONE.
UM, I NEED TO CONFIRM WITH THE CITY TO SEE IF THEY'RE PLANNING TO PURCHASE A TABLE, BECAUSE AS OF RIGHT NOW, TABLE IS THE ONLY WAY TO GO.
THEY ARE GONNA OPEN UP INDIVIDUAL TICKETS LATER, UH, ABOUT THREE WEEKS PRIOR TO THE EVENT.
SO CIRCLE BACK ON THAT, MARK YOUR CALENDARS.
UM, THEN ALSO, UM, JUST A REMINDER FOR OUR FINANCIAL POLICY SUBCOMMITTEE, YOUR POLICY IS DUE TO THE BOARD FOR CONSIDERATION AT THE NEXT MEETING ON THE 13TH.
AND JUST WANTED TO REMIND YOU THAT WE DO HAVE ACCESS TO SOME AMAZING FINANCE DEPARTMENT STAFF.
SO IF YOU GUYS, UH, WOULD LIKE TO LEVERAGE THEM, THEY ARE MORE THAN WILLING TO PROVIDE INPUT, UM, ON THE POLICY THAT Y'ALL ARE DEVELOPING.
CHANEY, WILL YOU SEND OUT CALORIE INVITES? YES, I WILL.
NOW IS THE SUMMIT AT KALAHARI LIKE IT WAS LAST YEAR? YES, SIR.
AND THEN ALSO JUST, UM, PUT THE 1113 MEETING ON YOUR CALENDARS AND BIG BOLD PRINT.
THAT'S GONNA BE A BIG NIGHT FOR US.
UH, DEPENDING ON HOW YOU PROCEED WITH THE PLANNER AND DEVELOPER OPTIONS FOR COTTONWOOD PROPERTIES, WE WILL LIKELY BE HAVING PRESENTATIONS THAT NIGHT AS WELL AS AWARDING THE CONTRACT FOR THE SPINE ROAD CONSTRUCTION.
SO EXTREMELY CRITICAL ITEMS. SO, UM, PLEASE DO YOUR BEST TO BE HERE.
TAKE YOUR VITAMIN C, GET PLENTY OF REST,
UM, AND THAT CONCLUDES THE REPORT FOR THIS EVENING.
NOW WE HAVE OUR TECH ISSUES, UH, RESOLVED, UH, BACK TO SIX ONE, DISCUSS AND CONSIDER A PRESENTATION BY SECRET COMMERCIAL REGARDING THEIR DOWNTOWN DEVELOPMENT PROJECT WELCOME ACT.
AND GRACIE, I DON'T KNOW IF THE CLICKER WORKS FOR THIS OR IF I HAVE TO.
I THINK I HAVE TO DO IT 'CAUSE I HAVE IT ON.
BDC BOARD CHAIR AND VICE CHAIR, CITY MANAGER.
AND WE HAVE INVESTED IN 1 0 5 AND 1 0 7 EAST IN DOWNTOWN HU.
AND WE WANTED TO GET IN FRONT OF YOU TODAY TO ASK QUESTIONS.
WE WANTED TO SEE WHERE THE EDC BOARD STANDS IN TERMS OF REVITALIZING AND REHABILITATING THE DOWNTOWN HUDDLE.
UM, WE'RE A LITTLE BIT DIFFERENT FROM THE ACADEMIES AND ALL THOSE GREAT BUSINESSES COMING TO TOWN THAT CHENEY JUST MENTIONED.
UM, YOU KNOW, A LOT OF THE BIGGER DEVELOPERS WILL NOT INVEST IN THE DOWNTOWN HURO.
UM, WE'RE DIFFERENT BECAUSE WE HAVE TIES TO HURO.
WE'RE NOT CITIZENS OF HURO, BUT I USED TO BE A TEACHER AT HURO, AND CHRIS HAS BEEN SELLING HOUSES IN HURO FOR 16 YEARS.
SO IT WAS MORE OF A PASSION PROJECT, MAYBE NOT THE MOST PROFITABLE, BUT WE REALLY WANTED TO NOT DESTROY THE DOWNTOWN HUDDLE AND SEE THAT GOING AWAY.
SO WE JUST WANTED TO WALK THROUGH THE PROJECT THAT WE HAVE FOR 1 0 5 AND SEVEN.
UM, JUMP IN IF YOU HAVE QUESTIONS.
SO, OUR MISSION REALLY IS TO REVITALIZE VIA REHABILITATION.
WE CAN'T BE LIKE GEORGETOWN ROUND ROCK WITHOUT ACTUALLY REHABILITATING
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THE BUILDINGS THAT WE HAVE.WE'RE NOT GETTING TRACTION FROM, YOU KNOW, TENANTS THAT WOULD REALLY DRIVE THAT KIND OF TRAFFIC.
HISTORICALLY, IT HAS BEEN THE STATE FARM INSURANCE, THE CHIROPRACTORS, YOU KNOW, SERVICE KIND OF TENANTS THAT REALLY DON'T BRING MUCH BENEFIT TO THE EDC, RIGHT? SERVICE BUSINESSES DON'T.
WE WANNA RESTORE THE ORIGINAL ARCHITECTURAL FEATURES.
UM, AND WE ALSO WANT TO SELECT INTENTIONALLY THE TENANTS THAT WILL BRING COLLABORATION OF THE DOWNTOWN, RIGHT? SO, YOU KNOW, INSTEAD OF FIGHTING OVER OPEN PARKING SPOTS, WE ENVISION A ENTIRE HALF BLOCK OF 1 0 5, 7, 9 11, AND 13 TOGETHER BECAUSE WE HAVE CONNECTED THEM IN THE BACKYARD.
UM, YOU KNOW, WE'RE GETTING PEOPLE WHO WANT TO RENT IT OUT FOR BUSINESSES THAT MAY NOT BE REALLY REVITALIZING THE DOWNTOWN.
SO WE'RE BEING FISCALLY, MAYBE NOT STILL RESPONSIBLE, BUT WE CARE ABOUT INTENTIONAL TENANTS THAT WE SELECT FOR THE DOWNTOWN.
SO THAT'S THE TWOFOLD MISSION.
THESE ARE THE TWO BUILDINGS, IF YOU'RE NOT FAMILIAR WITH IT, 1 0 5 IS THE ONE ON THE LEFT.
UM, SO THE DOWNSTAIRS OF 1 0 5 EAST IS WHAT WE'RE WORKING HARD RIGHT NOW TO HELP OUR TENANT GET IN.
THAT WILL BE FOR THE HU WINE BAR.
SO WE REALLY FEEL THAT HAVING A HUD WINE BAR, THAT WILL BE SOMETHING THAT IS VERY DIFFERENT THAT COULD DRIVE AND REVITALIZE THE DOWNTOWN ACTIVITY.
UM, THE SECOND FLOOR WILL BE DAILY RENTAL.
UM, WE'RE TARGETING FOR Q 1 20 24 SO THAT PEOPLE FROM OUT OF TOWN WILL COME AND STAY AND PLAY AND SPEND, RIGHT? AND BRING ECONOMIC BENEFIT TO THE DOWNTOWN, UM, 1 0 7 RIGHT NOW, BECAUSE WE DON'T HAVE FUNDS TO DO BOTH AT THE SAME TIME.
UM, MOST OF YOU KNOW, YOU KNOW, OUR FORMER TENANT, HIPAA PHARMACY, HE HAD SOME PERSONAL, YOU KNOW, TRAGEDY.
SO, YOU KNOW, WE HAVE A SHORT-TERM TENANT IN THERE RIGHT NOW.
BUT THEY ALSO HAVE VISIONS OF BRINGING, YOU KNOW, THE ART KIND OF DISTRICT INTO THIS AREA.
WE WANNA CONNECT TWO BUILDINGS HERE WITH ONE 11 EAST, HAVE A ART GALLERY EVENTS, YOU KNOW, WHERE WE ACCESS THE FRONT AND THE BACKYARDS.
UM, SO FACADE GRANT IS WHAT WE WERE TARGETING.
WE THOUGHT THIS WOULD BE WHAT MADE THE MOST SENSE.
UM, THE EX EXTERIOR FACADE, THE STONES AND THE BRICKS ARE OVER A HUNDRED YEARS OLD.
WE COULDN'T EVEN SANDBLAST THEM OFF.
WE HAD TO MANUALLY DO IT BECAUSE THE BUILDING WAS FALLING APART.
NOT TO MENTION THE DOORS, THE WINDOWS.
AND WE WANNA KEEP THE HISTORIC FEATURE.
WE DON'T WANNA BE LIKE SOME OF THE OTHER BUILDING OWNERS WHO HAVE JUST PUT IN NON HISTORIC ELEMENTS THAT DON'T FIT WITH THE ARCHITECTURAL STRUCTURE, RIGHT? MM-HMM.
UM, WE HAVE PLANS FOR A 1 0 5.
WE MADE IT INTO STEEL STRUCTURE SO THAT WE WON'T HAVE TO REPAIR IT FOR THE NEXT 125 YEARS.
AND WE WANNA CONTINUE THAT FOR 1 0 7.
ALSO, UM, STRUCTURAL UPGRADES, YOU KNOW, I JUST KIND OF, THIS IS PROBABLY OVER DETAILED, BUT METAL ROOF, CONCRETE SLAB.
UM, SO AS AN EXAMPLE, PICTURE SHOWS MORE, RIGHT? SO BRICKS ON THE FRONT, YOU KNOW, FALLING, IT WAS, YOU KNOW, WE DON'T WANT IT TO BE A SAFETY HAZARD FOR PEOPLE WALKING PEDESTRIAN ON THE FRONT EITHER, BUT THAT'S THE BACK OF THE BUILDING OF 1 0 5.
YOU CAN SEE THAT IT IS SEVERELY DILAPIDATED, NOT VERY APPEALING FOR ANY TENANT THAT WANTS TO GO IN THERE, YOU KNOW, TO LEASE OUT AND RENT, RIGHT? AND IT'S TOO MUCH FOR ANY TENANT TO TAKE ON.
SO WE HAD TO START FROM THE GROUND UP.
IT WAS ALSO CONSIDERABLY SMALLER THAN WHAT WE'RE RESTORING TO.
ITS ORIGINAL, IT WAS ORIGINALLY 3000 SQUARE FEET ONCE UPON A TIME AGO.
IT BURNED DOWN IN 1930 AND THEY REBUILT IT MUCH SIGNIFICANTLY SMALLER, WHICH IS WHY YOU CAN SEE ON THE SIDEWALL, UM, THE OLD TRUSSES, UH, THAT USED TO BE THERE.
SO WE'RE EXPANDING IT CLOSER TO WHAT IT WAS IS HISTORICALLY WHEN IT WAS FIRST BUILT, OKAY.
SO IT'S MORE APPEALING TO MORE, YOU KNOW, TENANTS THAN JUST A TINY LITTLE SPACE.
WE TOOK THIS PROJECT ON BECAUSE WE WERE TARGETING THE FEDERAL AND THE STATE GRANTS FOR HISTORIC, UM, YOU KNOW, REIMBURSEMENTS.
BUT WHEN THEY SAW THAT WE HAD TO TEAR ALL THE WAY DOWN, YOU KNOW, LEAVING JUST THE FRONT WALL, THEY SAID WE'RE DISQUALIFIED BECAUSE WE TORE TOO MUCH DOWN.
BUT WE HAD NO CHOICE BUT TO TURN IT DOWN BECAUSE IT WAS TERMITE INFESTED AND IT WAS JUST NOT STABLE, RIGHT? ALL KINDS OF STUFF.
IT WAS NOT, IT'S NOT INHABITABLE.
SO HERE WE ARE SEEKING A GRANT, JUST A LITTLE BIT OF A BACKGROUND, BUT TO, TO REWIND, IT WAS NOT ON THE HISTORICAL REGISTRY.
WE WENT THROUGH ALL OF THE WORK TO PUT IT BACK ON THE HISTORICAL REGISTRY IN ORDER TO APPLY FOR FEDERAL AND STATE REHABILITATION CREDITS THAT THEY GIVE FOR
[00:30:01]
RESTORING COMMERCIAL HISTORICAL PROPERTY.THEY, WE HAD ARGUED THAT WE WERE KEEPING THREE WALLS OF IT AND WE WERE RESTORING IT BACK TO ITS, YOU KNOW, CLOSER TO ITS, YOU KNOW, ORIGINAL HEIGHT AND, UH, DEPTH.
BUT THEY DID NOT AGREE WITH US IN TERMS OF, YOU KNOW, BASICALLY WE DEMOED TOO MUCH OF IT, BUT THERE WAS NO TENANT THAT WAS GONNA GO IN THERE.
IF ANY HAD ONE HAD BEEN INTO THIGS BARBERSHOP, IT WAS SEVERELY RUN DOWN WOOD ROT, TERMITES, RATS EVERYWHERE.
THERE WAS NO WAY WE WERE GONNA BE ABLE TO GET ANOTHER TENANT IN THERE UNLESS WE DID SOMETHING DRASTIC.
UM, WE ALSO RESPECT A CERTIFICATE OF APPROPRIATENESS THAT HUDU HAS IN PLACE.
SO IF YOU LOOK HERE, THIS IS OBVIOUSLY NOT CERTIFICATE OF APPROPRIATENESS BECAUSE THAT IS NOT TRUE MATERIALS, RIGHT? SO THOSE ARE THE THINGS THAT WE WANT TO TAKE DOWN AND ACTUALLY MAKE THE COMPONENTS THAT ARE MORE HISTORICALLY APPROPRIATE, UM, IN INTERIOR ALSO, RIGHT? SO THERE WAS A TINY BIT OF BRICK EXPOSED.
WE TOOK ALL THE OLD DRYWALL, YOU KNOW, MANUALLY, AGAIN, TOOK IT OFF TO EXPOSE THAT BACK AGAIN.
SO NOT JUST EXTERIOR, BUT ALSO THE INTERIOR.
WE'RE FOCUSING ON, YOU KNOW, TRYING TO RESTORE STRUCTURAL IMPROVEMENT.
SO THIS IS WHAT IT LOOKS LIKE NOW WITH, UM, STEEL IN THERE.
AS YOU CAN SEE, WE LEFT THE BRICK EXPOSED AS MUCH AS WE COULD.
THERE'S STILL WORK TO BE DONE.
UM, BUT YOU KNOW, THE PLAN WAS TO MAKE EACH BUILDING STRUCTURALLY SOUND INDEPENDENTLY, BECAUSE THESE ARE ALL TIED TOGETHER.
I DON'T KNOW IF YOU KNOW THAT THE ENTIRE BLOCK IS JUST TIED, SO WE DON'T WANT IT TO BE A DOMINO EFFECT AND EVERYTHING FALL APART.
SO THIS BUILDING WILL BE STILL STANDING.
SO THE BACKGROUND, YOU KNOW, WE'VE ALREADY KIND OF DISCUSSED IT, AND THIS IS KIND OF WHAT WE WERE SEEKING, UM, IN TERMS OF THE BIDS THAT WE HAVE RECEIVED AND YOU KNOW, HOW MUCH WE'RE INTO IT ALREADY.
AND WE UNDERSTAND, WE KNOW THAT WE'RE NOT THE BIG CORPORATIONS THAT WILL BRING YOU MILLIONS OF TAX REVENUE TO YOU, BUT WE ARE, YOU KNOW, WE REALLY WANNA KNOW WHERE DOES EDC STAND? LIKE WE REALLY PURCHASE THIS THINKING THAT, YOU KNOW, THE VACANT LOT ACROSS THE STREET, YOU KNOW, SOMEBODY MIGHT WANNA MIRROR THE IMAGE, BUT IN THE STATE THAT IT'S CURRENTLY NOW, I DON'T KNOW WHO IS GOING TO WANT TO MIRROR THE CURRENT STATE, RIGHT? WE WANT TO REVITALIZE AND REHABILITATE DOWNTOWN AGAIN, SO THAT THERE WILL BE OTHER INVESTORS AND DEVELOPERS THAT COME IN THE FUTURE TO WANT TO REPLICATE WHAT WE'RE DOING TO ENCOURAGE THAT INSTEAD OF JUST HAVING SERVICE BUSINESSES, YOU KNOW, THAT REALLY WILL NEVER REVITALIZE YOUR DOWNTOWN.
SO WE'RE, WHAT WE'RE DOING HERE WITH THIS PROJECT IS WE'RE THE FIRST PEOPLE IN 120 YEARS TO DO ANYTHING LIKE THIS IN DOWNTOWN HU UM, IN TEARING DOWN ONE OF YOUR BUILDINGS AND REBUILDING IT.
AND THERE'S A SIGNIFICANT ASTRONOMICAL COST THAT WE HAVE.
AND WE HAVE BASICALLY EVERYTHING THAT WE HAVE INTO THIS ONE BUILDING.
IT'S AN ASTRONOMICAL AMOUNT THAT WE'RE DOING.
WE MAY NOT BE AN ACADEMY, AN EVO WITH CHEWY'S OR ANYTHING LIKE THAT, BUT I THINK WE CAN ALL AGREE THAT ROUND ROCK, GEORGETOWN MARBLE FALLS, THEY DON'T DERIVE THE REPUTATION FROM THOSE TYPES OF BUSINESSES.
THEY DERIVE THE REPUTATION FROM THE DOWNTOWN, THE HISTORIC DOWNTOWN.
SO WE'RE TRYING TO ESSENTIALLY RECREATE THAT IN DOWNTOWN HU BY UP UPPING ITS REPUTATION.
YOU GUYS USE, OBVIOUSLY DOWNTOWN IN A LOT OF YOUR MARKETING, YOU USE IT WITH, YOU KNOW, OLD TOWN, OLD TIME DAYS FESTIVAL, AS WELL AS OTHER FESTIVALS.
SO WE'RE LOOKING FOR LIKE A COLLABORATIVE THING HERE WHERE IF WE'RE PUTTING IN A SIGNIFICANT AMOUNT OF MONEY, AND YOU GUYS OBVIOUSLY GET A MUCH BETTER, NOT JUST BUSINESSES, BUT YOU ALSO GET A MUCH BETTER, UM, IMAGE FOR YOUR DOWNTOWN.
BECAUSE LIKE WE HAD SAID BEFORE, WE'RE, WE'RE TRYING TO BE VERY SELECTIVE IN THE TYPE OF BUSINESSES THAT WE PUT DOWNTOWN.
WE DON'T REALLY, I MEAN, NOT TO KNOCK ANY BUSINESSES, BUT WE'RE, WE'RE NOT TRYING TO PUT A CHIROPRACTOR IN THERE, AN OPTOMETRIST, AN INSURANCE AGENCY.
YOU KNOW, WE HAVE A PRINT SHOP IN 1 0 7 RIGHT NOW, BUT THAT'S BECAUSE THE HIPPO PHARMACY, YOU KNOW, OUT OF THE BLUE SIGNIFICANT HEALTH PROBLEMS HAD TO SHUTTER HIS BUSINESS.
SO WE'RE REALLY TRYING TO BE SELECTIVE, BUT IT WOULD BE MUCH MORE FINANCIALLY EASY TO JUST DO LIKE A PRINT SHOP WHERE THERE'S NO TENANT IMPROVEMENTS WHERE WE HAVE TO PUT MONEY INTO IT.
LIKE WITH THE HU WINE BAR AND LIKE A RESTAURANT, IT'S MUCH EASIER TO DO LIKE A PRINT SHOP WHERE WE HAVE TO PUT IN $0 TENANT DOES EVERYTHING.
UM, SO WE'RE LOOKING TO DO SOMETHING THAT'S EXCITING, FUN, AND UNIQUE FOR DOWNTOWN HU AND BRING IN BUSINESSES LIKE THE HU WINE BAR THAT IS YOUR, YOU KNOW, FIRST WINE BAR THAT YOU HAVE.
UM, BUT WE'RE JUST LOOKING FOR ASSISTANCE BECAUSE AT THIS POINT WE'VE PUT NEARLY A MILLION DOLLARS INTO THIS ONE BUILDING IN JUST CASH.
WE CANNOT DO THE FACADE OF THE BUILDING AND IT'S
[00:35:01]
TO THE HU WINE BAR'S DISMAY, LIKE WE'RE LOOKING AT LIPSTICK ON A PIG TYPE OPTIONS TO, YOU KNOW, FINISH THE, THE FRONT BECAUSE WE JUST DON'T HAVE THE FUNDS TO DO THE FACE OF THE BUILDING, WHICH IS A, YOU KNOW, TO DO THE APPROPRIATENESS STUFF IS EXPENSIVE.HE'S RAMBLING, BUT
SO, I MEAN, OVERALL, THE ITEM ON THE AGENDA TONIGHT IS BASICALLY JUST THE PRESENTATION.
SO I THINK THERE CAN BE FURTHER DISCUSSIONS HAD OFFLINE.
UM, BUT UNFORTUNATELY WITHOUT ANY ACTION ON THERE, THERE'S NOT A LOT TO DO TONIGHT.
AND I THINK IT'LL PROBABLY BEST SERVED TO HAVE SOME DISCUSSIONS, UM, PRIOR TO BEFORE ANYTHING ELSE COMING BACK TO THE BOARD.
AND THAT'S ALL WE'RE ASKING, YOU KNOW, IF IT HAS TO HAPPEN IN EXECUTIVE SESSION, BUT PLEASE, YOU KNOW, DISCUSS AND THINK HARD ABOUT, YOU KNOW, WHERE THE FUTURE OF DOWNTOWN HUDDLE WAS GOING TO BE GOING.
I MEAN, I'M A COMMERCIAL BROKER, SO, YOU KNOW, BEFORE WE EVEN HAVE SOMETHING THAT'S EVEN PRESENTABLE OR OPERATABLE, UM, YOU KNOW, THE BIGGER CHAINS, THEY'VE ALREADY SHUT US DOWN, RIGHT? THEY DON'T WANNA BE IN DOWNTOWN HU THAT'S THE KIND OF REPUTATION THEY HAVE RIGHT NOW.
SO HENCE WE WERE ABLE TO CONNECT WITH THE HAWAIIAN BAR, WHO IS THE OWNER IS A HU CITIZEN, UM, AND ALSO HAS KIND OF SAME KIND OF GOALS FOR US.
SO IT'S HER FIRST BUSINESS, BUT, YOU KNOW, WE BELIEVE THAT IT WILL DO WELL.
UM, BUT IT'S HARD FOR US TO GET ANY SORT OF NATIONAL FRANCHISE OR KIND OF BRAND.
YEAH, NO, NO, I WAS JUST ASKING LIKE, HOW DO WINE BAR, THEY SHOULD HAVE DONE A BUSINESS PLAN, RIGHT? I MEAN IT'S, EVEN IF IT'S A NEW BUSINESS PLAN, THEY'VE DONE A BUSINESS PLAN PRESENTED TO OR FORECAST IT, RIGHT? YEP.
AND THEY, SHE'S GOTTEN A GRANT.
SO IF YOU PULLED ALL THOSE TOGETHER, THE THREE OR FOUR DIFFERENT BUSINESSES AND THAT YOU'RE GONNA PUT WITHIN THAT AREA AND KIND OF FIGURED OUT TOTAL REVENUE IS GONNA BE ABOUT THIS, THIS, AND THIS.
WE'RE WE'RE HOPING TO GENERATE THIS MUCH IN SALES TAX, THOSE KIND OF THINGS.
AND THEN ON PURPOSE, WE'RE ALSO DOING, YOU KNOW, KIND OF A AIRBNB UPSTAIRS BECAUSE THAT HUDDLE CAN ALSO RECEIVE HOT TAX FROM THAT, RIGHT? SO INSTEAD OF JUST DOING LIKE A LONG-TERM REGULAR RESIDENTIAL LEASE, RIGHT? WE'RE SAYING, OKAY, HOW DO WE GET PEOPLE TO COME AND SPEND MORE MONEY? HOW DO WE GENERATE MORE REVENUE FOR THE CITY? SO THOSE KIND OF THINGS WE'RE FORECASTING NOW.
IT'S, IT'S ALSO, I MEAN, IT'S GONNA LOOK REALLY KILLER.
LIKE IT'S, I MEAN, WE'RE NOT DOING IT JUST, YOU KNOW, A, WE'RE REALLY ENCAPSULATING THE HISTORIC NATURE OF THE UPSTAIRS.
SO IT MAY BE JUST KIND OF LIKE A, A SHORT-TERM RENTAL TIME, LIKE TYPE OF THING.
BUT IT'S GONNA LOOK REALLY LIKE ARCHITECTURALLY INTERESTING AND UNIQUE.
UM, SO, UH, THE TYPE OF PLACE THAT PEOPLE WILL WANT TO VISIT.
BUT TO ANSWER YOUR QUESTION, SEAN, LIKE, YOU KNOW, 1 0 7, WE DON'T KNOW WHAT KIND OF TENANT IS GONNA GO THERE.
IF IT'S JUST GONNA STAY AS IS RIGHT, WITH NO ASSISTANT, THEN IT PROBABLY WILL BE SOMETHING THAT DOES NOT GENERATE MUCH REVENUE, RIGHT? BUT WE ARE TARGETING TALKING ALREADY WITH SOME BUSINESSES THAT ALREADY ARE SUCCESSFUL IN DOWNTOWN GEORGETOWN AND DOWNTOWN ROUND ROCK RIGHT NOW THAT WANT TO TAKE THE WHOLE BUILDING OF 1 0 7 AND BRING, YOU KNOW, REVENUE, RIGHT? SO, BUT IT ALL DEPENDS.
LIKE WE CAN'T JUST AIMLESSLY KEEP SPENDING, YOU KNOW? YEAH, NO, I HEAR YOU.
AND I GUESS WHEN YOU DO UPDATE, I GUESS CHENEY, UM, ON THAT, JUST HAVING SOME SORT OF NUMBERS FORECASTING, I MEAN, IF YOU GUYS WERE TRYING TO GET A LOAN, RIGHT, YOU WOULD AS WOULD HAVE SOME SORT OF BUDGET FORECAST, TRY TO FIGURE OUT EXACTLY WHAT THAT LOOKS LIKE FROM A REVENUE STANDPOINT AS WELL AS, YOU KNOW, UM, THAT, I MEAN, I THINK THAT THAT WOULD BE SOMETHING THAT WE WOULD WANNA SEE.
OR AT LEAST I WOULD WANT TO SEE.
AND I'M NOT SURE, UM, HISTORICAL PER PRESERVATION COMMITTEE, IF YOU GUYS ARE PRESENTED TO THEM, I DON'T KNOW IF THEY HAVE, UM, IT'S ANOTHER COMMISSION HERE.
UM, THEY KIND OF DICTATE WHAT DOWNTOWN, I DON'T KNOW IF THEY HAVE GRANTS OR CERTIFICATE OF APPROPRIATENESS.
WE'VE ALREADY BEEN APPROVED BY THEM OVER.
AND THAT'S THE THING, NOT EVERYONE'S DOING THAT DOWNTOWN.
YOU WALK DOWN THERE AND LIKE, THAT IS NOT 18 HUNDREDS, RIGHT? MM-HMM.
BUT WE'RE TRYING TO REALLY PRESERVE THAT AND THAT, AND, AND I, AND I'M, AND I'VE BEEN A RESIDENT OF HU FOR 23 YEARS, SO I'M, I'M ALL ABOUT RESTORING HISTORICAL STUFF HERE IN TOWN.
JUST WANNA MAKE, JUST, JUST WANTED TO SEE IF YOU GUYS HAD REACHED OUT TO OTHER AVENUES AND STUFF FOR YEAH.
AND GRACIE, I'LL SAY, AND CHRIS, THANK YOU SO MUCH FOR PRESENTING.
[00:40:01]
UM, I THINK IN ADDITION TO, UH, WHAT SEAN'S ASKING FOR, IT'D BE INTERESTING TO SEE LIKE YOUR AMPLIFICATION PLAN FOR THAT.I UNDERSTAND YOU'RE, YOU KNOW, REVITALIZING, UH, DOING A WHOLE BUNCH OF WORK.
BUT FROM THERE, WHAT'S THAT NEXT STEP TO, TO BRING THOSE TYPES OF BUSINESSES TO HUDU THAT, YOU KNOW, WOULD REALLY CAPTURE WHAT YOU WERE TALKING ABOUT, CHRIS, WITH THE, WITH THE DOWNTOWN CHARM FOR A SMALL TOWN.
UM, WHAT, WHAT'S THOSE AMPLIFICATION EFFORTS LOOK LIKE? BECAUSE I THINK, UM, YOU KNOW, DOING ALL OF THIS WORK, IT'D BE GREAT TO, YOU KNOW, SEE THE ENTIRE DOWNTOWN REVITALIZE, BUT THEN, YOU KNOW, WE HAVE A REVITALIZED DOWNTOWN NOW, NOW WHAT, YOU KNOW.
AND SO, UM, IT WOULD JUST BE INTERESTING TO SEE IN, IN, IN ADDITION TO THE FINANCIALS, YOU KNOW, WHAT THAT AMPLIFICATION PLAN WOULD LOOK LIKE, UM, FROM YOUR GUYS' END.
AND THEN ALSO WHAT YOU WOULD EXPECT FROM, YOU KNOW, LIKE A THIRD PARTY OR, OR SOMEBODY THAT YOU KNOW WOULD PARTNER WITH YOU.
WHAT, WHAT ARE YOUR EXPECTATIONS FOR THEM? I THINK IT'D BE NICE TO KIND OF GET THAT BASELINE.
WE'VE ALREADY BEEN IN, IN TALKS WITH A KOREAN BARBECUE RESTAURANT AS WELL AS, UM, A VERY POPULAR LIKE, UM, SHOP, SHOP SLASH CRAFT BEER RESTAURANT IN GEORGETOWN FOR A SECOND LOCATION IN 1 0 7.
UM, SO WE'VE BEEN TALKING TO THOSE, BUT THEY'RE GONNA COST SIGNIFICANT, LIKE TENANT IMPROVEMENT ALLOWANCES.
SO WE'RE KIND OF FIGURING OUT WHAT, WHAT WE WANT TO DO FROM HERE.
BUT, UM, YOU KNOW, WE ENVISION LIKE A, UH, PUTTING A, UM, A HOLE IN THE SIDE OF 1 0 7 TO THE BACK COURTYARD AREA THAT YOU KIND OF SAW IN PICTURES WILL BE SHARED SPACE FOR BOTH BUILDINGS, UM, TO KIND OF INCORPORATE, YOU KNOW, THAT SHARED.
AND THEN IT WRAPS ALL THE BACKYARD, UH, LIKE SHE WAS SAYING, IT WRAPS ALL THE WAY AROUND THE BACK.
SO WE'VE BEEN DOING THINGS TO LIKE TRY TO, UH, CATER TO THESE, YOU KNOW, INTERESTING UNIQUE BUSINESSES.
YOU KNOW, AN ICE CREAM SHOP WOULD BE REALLY COOL THERE.
UM, SO JUST DIFFERENT THINGS LIKE THAT.
BUT WE'VE BEEN DESIGNING THE WHOLE PROJECT TO APPEAL TO SOMETHING.
'CAUSE OBVIOUSLY YOU CAN'T GET ANYTHING LIKE THE BACKYARD WITH TREES AND STUFF LIKE THAT MM-HMM.
IN CO-OP, RIGHT? SO SOME OF THOSE BUSINESSES WOULD OBVIOUSLY FIND APPEAL IN, IN THE DOWNTOWN AREA THAT WE'RE, YOU KNOW, DOING.
IT, IT WOULD BE GREAT TO SEE THAT THIS IS A JOURNEY TOGETHER, RIGHT? WE'RE NOT HERE JUST SAYING LIKE, HEY, LIKE WE DID THIS.
NOW WHAT IT'S LIKE, LIKE WE, THIS 1 0 5 IS 1, 1 0 7 IS ANOTHER RIGHT.
AND WE HAVE ANOTHER BUILDING, RIGHT? WE WANT TO AMPLIFY NOT JUST THAT MM-HMM.
I WANT TO HAVE ALL OF THAT, AND THIS IS WHAT WE CAN DO AS OUR PART TO PUSH TOWARD THAT.
SO I JUST WANT IT TO BE LIKE A COLLABORATIVE THING.
WE'RE OPEN TO IDEAS, LIKE, TELL US WHAT YOU NEED, YOU KNOW? YEAH, FOR SURE.
AND I THINK, I THINK, YOU KNOW, HAVING THOSE AMPLIFICATION EFFORTS, I THINK THAT WOULD REALLY HELP OUT IN FURTHERING ON THIS, RIGHT? AND, AND IF ANYBODY WANTS TO, HEY, I WANT TO JOIN IN ON, YOU KNOW, WHAT, YOU KNOW, WHAT, WHAT, WHAT CHRIS AND GRACIE ARE DOING.
I THINK THAT WOULD BE SOMETHING WHERE IT'S LIKE, OKAY, HERE'S THE, YOU KNOW, KIND OF THE GAME PLAN, THE FOUNDATION, YOU KNOW, CAN YOU ADD TO THIS? YOU KNOW, IS IT SOMETHING THAT YOU'RE GOING TOTALLY OFF THE BOOKS OF WHAT'S ALREADY THERE? I THINK THAT WOULD REALLY HELP.
SO IT'S NOT A MISMATCH OF, OF, OF THINGS MOVING FORWARD.
AND IS THAT THE ASK 163? YEAH.
AND YOU KNOW, WE WERE KIND OF GUIDED LIKE, HEY, SEPARATE OUT THE FACADE VERSUS THE DEVELOPMENT, YOU KNOW, TO MAKE IT STRUCTURALLY STABLE.
BUT THE MORE URGENT ONE IS A FACADE, YOU KNOW, LIKE THE OUTSIDE OF THE BUILDING, LIKE THE DOORS DON'T EVEN CLOSE.
WE JUST WANNA HELP THEM GET OPENED.
YOU KNOW, THAT'S FOR BOTH 1 0 5 AND 1 0 7 TOGETHER.
THE OTHER AMOUNT IS FOR ALL OF THE STEEL.
AND WE ALSO DID LIKE A CIRCULAR STEEL STAIRCASE IN THE BACK INSTEAD OF LIKE A WOOD STAIRCASE.
WE HAVE AN INTERIOR STEEL STAIRCASE.
SO WE WERE THINKING ABOUT, YOU KNOW, NOT JUST THE LONGEVITY AND LASTING ANOTHER 125 YEARS FOR THESE BUILDINGS, BUT ALSO, YOU KNOW, IT CAN WITHSTAND FIRE.
RIGHT? SO, UM, IT'LL STAND THE TEST OF TIME.
WE COULD HAVE DONE LVL BEAMS, UH, FOR SIGNIFICANTLY CHEAPER.
UM, BUT WE, YOU KNOW, CHOSE STEEL, UH, TO HAVE IT, YOU KNOW, KIND OF, IT'S ALSO KIND OF LIKE AN AESTHETIC THING FOR THE UPSTAIRS.
BUT, UM, TO STAND THE TEST OF TIME OVERALL, WHAT'S YOUR TIMELINE LOOKING LIKE FOR THIS 1 0 5? WE ARE PUSHING, AS CHANEY SAID, WINE.
BART'S TRYING TO OPEN IN NOVEMBER.
SO WE ARE TRYING TO PUSH FOR, YOU KNOW, TCO AT LEAST, SO WE CAN GET HER OPEN AND SEPARATE THE UPSTAIRS, UM, 1 0 5 WE'RE TARGETING UPSTAIRS, YOU KNOW, Q ONE AT THE LATEST, BUT, YOU KNOW, AND 1 0 7 WE WILL, WE CAN'T EVEN START UNTIL 1 0 5 IS DONE AND COMPLETE.
AND THEN WE HAVE ALL THE NEGOTIATIONS OF WHO'S GONNA GO IN THERE AS A TENANT.
SO, BUT THIS WHOLE THING IS TAKEN TWO AND A HALF YEARS TO, WE, OUR FIRST CONTRACTOR DIED OF COVID.
AND SO THAT PUT US BACK, SHE DIDN'T WANT ME TO TELL ALL THIS, GEEZ.
BUT OUR FIRST CONTRACTOR DIED OF COVID, YOU KNOW, THAT HE WAS LIKE A MENTOR AND A FRIEND
[00:45:01]
AND YOU KNOW, THAT WE HAD TO THEN FIND A NEW CONTRACTOR.AND HE WAS GIVING US, OBVIOUSLY FRIEND PRICING.
SO THEN WE HAD TO FIND A NEW CONTRACTOR THAT WOULD GIVE US, YOU KNOW, A GOOD DEAL.
SO OBVIOUSLY THE ARCHITECT BUDGET, WHICH WAS, YOU KNOW, THAT WENT OUT THE WINDOW.
SO WE DID NOT HAVE AN ARCHITECT.
WE HAD TO DO ALL THAT STUFF OURSELVES.
UM, AND THE INTEREST RATES ARE NOW OVER 10% FOR CONSTRUCTION.
AND SO IT'S JUST, IF YOU'RE WONDERING WHY WE DIDN'T GET A CONSTRUCTION LOAN, IT'S BECAUSE WE HAVE A RATE THAT WE GOT IN 2021, WHICH IS SIGNIFICANTLY LOWER.
CONSTRUCTION LOANS ARE NOW LIKE 7.5% AT THE END OF THE CONSTRUCTION LOAN, THEY'D FORCE A REFI.
UM, AND THEN WE'D BE REFINANCING 1.25 MILLION AT LIKE A 10% INTEREST RATE, WHICH THAT WOULD JUST DESTROY THE VIABILITY OF THE PROJECT.
SO THIS IS WHY I'M LEARNING THAT THIS IS WHY A LOT OF PEOPLE KIND OF STAY AWAY FROM HISTORIC REHABILITATIONS.
UM, BECAUSE IT'S, IT'S DEFINITELY THE TIMELINE AND FOR MODEST PROFITABILITY, UM, IS REALLY PROBABLY WHY A LOT OF PEOPLE KIND OF STAY AWAY FROM THIS.
AND IT TOOK US A YEAR TO GET BACK TO PUT 1 0 5 BACK ON THE NATIONAL REGISTRAR OF HISTORIC PRESERVATION.
SO, YOU KNOW, WE WANTED THAT TO BE THERE 'CAUSE WE DON'T WANT TO DO IT.
AND THEN WHOEVER THE NEXT OWNER IS JUST SAY, OH, WE'RE NOT IN THE REGISTRAR.
SO WE REALLY THOUGHT OF THE LONG TERM FOR THAT.
IF YOU CAN'T TELL ABOUT THIS PROJECT, WE CARE ABOUT HU WE, I FEEL LIKE A CONNECTION TO THE CITY.
BUT IT'S LIKE, I REALLY WANT TO BE A PART OF, YOU KNOW, GROWING THE DOWNTOWN ECONOMIC AND ALL THAT.
UM, YOU KNOW, I'M SORRY, SORRY FOR YOUR LOSS.
UM, THAT MUST'VE BEEN REALLY DIFFICULT.
UM, YOU MIGHT'VE ALREADY MENTIONED THIS, BUT ARE YOU GETTING ANYWHERE WITH THE HISTORIC GRANTS? IS THAT SOMETHING WE'RE NOT QUALIFIED BECAUSE THEY SAID POOR TOO MUCH DOWN IT BURNED DOWN TOO MUCH.
SO WE SAID IF WE KEEP THE FRONT WALL, WE CAN STILL BE PART OF THE REGISTER OKAY.
BUT THE THREE WALL, THE, OKAY.
WHAT OTHER PROPERTIES DO YOU OWN HERE AND HOW DO, UH, 1 0 2 TAYLOR, IT'S ACROSS THE OPEN FIELD SITE, RIGHT? SO THAT'S THE CORNER, UM, WHERE FARLEY MEETS 1660, THAT LITTLE BUNGALOW THAT'S KIND OF LIKE ISH COLOR AND THAT ONE'S ALSO COMMERCIALLY ZONED.
BUT YOU KNOW, WE'RE JUST RENTING OUT RESIDENTIALLY RIGHT NOW.
BUT ONE THAT ROAD IS EXPANDED, WE WANNA DO LIKE A CUTE LITTLE BRUNCH OR SOMETHING, LIKE A DI DINER OR SOMETHING KIND OF THING.
UM, YOU KNOW, WE CAN TURN THE FRONT YARD INTO LIKE A PARKING LOT, BUT YOU KNOW, THAT'S ANOTHER ONE.
BUT THAT'S LIKE DOWN THE ROAD.
LIKE WE DON'T HAVE ANYTHING LIKE THE FINANCES YEAH.
BUT TO BRIAN'S POINT, LIKE WHAT'S THE EXTENSION? LIKE WHAT ARE WE ENVISIONING, RIGHT? LIKE WE WANNA HAVE THAT BLOCK ALL THE WAY TO TAYLOR STREET, ALL WALKABLE FILLED WITH STORES AND REVITALIZE ALL OF THAT.
RIGHT? WE DON'T WANT IT TO BE LIKE WHERE THE FOOD TRUCKS PARK THEIR UGLY SIDE ON DURING FESTIVALS,
BUT YEAH, I WANNA SAY LIKE, I APPRECIATE, UM, YOUR THOUGHTFULNESS AND CONSIDERING THE CITIZENS AND THE COMMUNITY AS A WHOLE AND LIKE WHAT CAN HELP THE DOWNTOWN AREA.
AND, UM, I THINK THIS BEGS LIKE, AND POSES A BIGGER QUESTION OF WHAT OUR INVOLVEMENT AND INCENTIVES FOR THE DOWNTOWN AREA.
AND OF COURSE I WANNA BE MINDFUL FOR EACH PROJECT AS THEY COME ALONG BECAUSE THEY'RE ALL UNIQUE.
AND, UM, FOR ME, I JUST WANNA SAY THANK YOU FOR SPENDING YOUR TIME AND EFFORT AND RE HELPING TO REVITALIZE THAT.
AND I THINK AS A BOARD, IT'D BE A GREAT IDEA FOR US TO DISCUSS HOW WE CAN HELP THAT PROCESS.
BECAUSE I THINK THAT'S WHAT WE ALL WANT.
WE ALL WANNA SEE THE DOWNTOWN AREA REVITALIZED.
SO NOT JUST FOR US, BUT FOR OTHER FUTURE OWNERS ALSO, RIGHT? SO HAVE SOMETHING, A PROCESS IN PLACE THEN, YOU KNOW, I THINK IT'LL BE, WE CAN SPEED UP REVITALIZATION FASTER.
BUT THANK YOU SO MUCH IN ADVANCE.
I I BELIEVE THAT YOU GUYS WILL ALL DISCUSS
WE JUST WANTED TO PRESENT WHAT'S GOING ON WITH THE, WITH THE PROJECT.
I'M SURE PEOPLE HAVE DRIVEN BY AND SEEN KIND OF WHAT'S GOING ON WITH, YOU KNOW, THE ESSENTIALLY JUST A WALL PROPPED UP WITH SOME POSTS FOR A LONG TIME AND, AND ALL THAT.
SO, UM, BUT YEAH, THANK YOU FOR LISTENING TO US TODAY.
WE'LL SEE YOU AT THE WINE OPENING.
OKAY, WE HAVE NO ACTION ON SIX ONE.
UM, ITEM SEVEN ONE, DISCUSS AND CONSIDER ACTION REGARDING THE EVALUATION OF LEGAL SERVICES, POTENTIAL ALTERNATIVES TO THE CORPORATION.
ALL RIGHT, THANK YOU VERY MUCH.
SO, UM, AHEAD OF THIS MEETING, THE BOARD RECEIVED A DOCUMENT WITH SEVERAL LEGAL SERVICE PROVIDERS, UM, BOTH THOSE THAT ARE CURRENTLY
[00:50:01]
SERVING, UM, OTHER EDCS IN OUR NEIGHBORING COMMUNITIES, AS WELL AS A COUPLE THAT WERE FOUND JUST VIA SEARCH THAT DO HAVE ECONOMIC DEVELOPMENT EXPERIENCE AND OR SPECIALIZATION.UM, SO WELCOME TO DISCUSS, BUT STAFF IS JUST LOOKING FOR YOUR FEEDBACK AND DIRECTION REGARDING NEXT STEPS SHOULD YOU CHOOSE TO CONTINUE LOOKING INTO ALTERNATIVES FOR THAT SERVICE.
SO HAVE YOU FOUND ANY, UM, POTENTIAL ALTERNATIVES? YES, IT WAS SENT IN THE DOCUMENTS AHEAD OF THE MEETING IN THE SHAREPOINT DRIVE.
HAVE YOU SPOKEN WITH ANY OF THESE FIRMS SPECIFICALLY? I HAVE NOT PERSONALLY, NO.
I SPOKE WITH THE OTHER EDCS, UM, THAT RECOMMENDED THEIR CURRENT LEGAL SERVICE PROVIDERS AND THEY DID RECOMMEND THOSE PROVIDERS.
WHAT IS THE REASON THAT WE'RE TRYING TO EXPLORE OTHER LEGAL SERVICES? UM, I BELIEVE THIS, UM, ITEM HAS BEEN BROUGHT UP JUST AS A PART OF OUR, OR THE BOARD'S, UH, FISCAL RESPONSIBILITY.
I THINK THE LAST TIME WE REVIEWED WAS THREE YEARS AGO OR SO.
UM, SO I THINK WITH THE BUDGET DISCUSSIONS, THIS WAS ONE OF THE ITEMS THAT CAME UP FOR REVIEW ALONG WITH OUR OTHER PROFESSIONAL CONTRACTS.
SO, YOU KNOW, Y'ALL KNOW I'M NOT NORMALLY ONE TO TALK UP HERE, A WHOLE HECK OF A LOT.
SO, BUT THE, THE, THE REASON FOR SOME OF THIS, UH, JUST HISTORICALLY SPEAKING, I BELIEVE COMES FROM, UM, A, A NEED JUST TO, TO STEP BACK AND REVIEW.
UM, AND I THINK IT WAS BROUGHT TO, UH, THE BOARD VIA ONE OF THE MEMBERS.
UM, WITH THAT BEING SAID THOUGH, SO THERE'S A LOT OF STUFF THAT PEOPLE MAY NOT SEE.
SO LIKE I'VE ACTUALLY HAD SOME PRETTY IN-DEPTH CONVERSATIONS, UH, WITH, UH, GEORGE, UH, ON SOME OF THAT.
AND SO YOU, IF YOU'VE NOTICED, THERE'S ACTUALLY A COUPLE CHANGES THAT MIGHT NOT HAVE REALLY REALIZED IT HAPPENED.
FOR THE MOST PART, GEORGE ISN'T HERE ANYMORE.
WE'VE GOT STEVEN HERE NOW, AND GEORGE HAS SAID, HEY STEVEN, YOU'RE GOOD TO BE ON YOUR OWN, BUT GEORGE IS ALWAYS THERE IN THE BACKGROUND IF WE EVER NEED HIM.
SO, UH, HE DOES UNDERSTAND THAT, EXCUSE ME, THAT, YOU KNOW, WE HAVE TO BE MINDFUL AND FRUGAL WITH OUR FUNDS.
UM, AND, AND HE IS IN SUPPORT OF THAT.
UM, AND HAS BEEN THE ENTIRE TIME, ANYTIME I, YOU KNOW, BROACHED A TOPIC WITH HIM, HE'S ALWAYS, YOU KNOW, UH, TRY TO GET IT ADDRESSED IN, IN, UH, WHAT I BELIEVE TO BE AN APPROPRIATE MANNER.
UM, SO YEAH, I THINK IT'S ONE OF THE THINGS THAT, HEY, THIS STUFF COMES FORWARD.
YOU KNOW, I THINK WHAT'S ALWAYS GOOD FROM A, A BUSINESS, UH, STANDPOINT TO, UM, TO DO A CONTINUAL EVALUATION, BUT ALSO JUST, UH, UM, MAKE SURE THAT, YOU KNOW, WE'RE, YOU KNOW, GETTING THE BEST POSSIBLE RATE.
AND I THINK THAT WILL STILL BE TRUE THROUGH WHAT WE HAVE, UM, TODAY.
YOU KNOW, IF, UH, IF THE BOARD, YOU KNOW, SO MOVES THAT, YOU KNOW, CHENEY REACH OUT AND OBTAIN PRICING AND ALL THIS OTHER STUFF AND TAKE IT FURTHER, GREAT.
BUT FROM WHERE I SIT IN MY CHAIR, I SEE ZERO PROBLEMS WITH, UH, WITH WHERE WE'RE TODAY.
UM, I KNOW THAT FROM A BUSINESS SENSE AND OBVIOUSLY HERE, UM, BUT I THINK WHAT, WHAT IS INCUMBENT ON US AS A BOARD, UH, THIS IS SOMETHING THAT, YOU KNOW, GEORGE AND HIS TEAM HAS ALSO SUPPORTED AS WELL, IS HOW DO WE GO MORE BOILERPLATE DOCUMENTATION.
NOW YOU CAN'T BOILERPLATE EVERYTHING.
EVERYBODY'S GONNA WANNA PUT THEIR OWN LITTLE TWISTER SPIT OR WHATEVER IT IS ON IT.
UM, YOU KNOW, BUT I THINK JUST BY SETTING SOME OF THOSE BASELINES, A LOT OF THE ISSUES AND COSTS THAT HAVE BEEN INCURRED, UM, BY THE EDC OVER THE LAST, UH, SEVERAL YEARS AS IT RELATES TO SOME OF THE DOCUMENTATION WILL START TO DECREASE.
BUT ALSO, YOU KNOW, I THINK IT'S IMPORTANT FROM A PERSPECTIVE STANDPOINT.
WE'VE HAD THE MEGA SITE, WE HAVE HAD OPTIONS ON SOME OF THOSE PIECES OF LAND, SOME THAT WE ACTUALLY SOLD THE OPTIONS OFF TO, YOU KNOW, ANOTHER DEVELOPER.
YOU KNOW, WE'VE TAKEN DOWN COTTONWOOD, WE'VE DONE A LOT OF THINGS THAT, YOU KNOW, ARE WITHIN INSIDE EDC PURVIEW, BUT NOT REALLY.
IT'S, IT IS MORE ATYPICAL COMPARED TO, UM, WHAT I'VE SEEN, UH, HERE ON THE BOARD OVER THE LAST FOUR OR FIVE YEARS, HOWEVER LONG IT'S BEEN NOW.
SO, SO SORRY CHANEY, I MUST HAVE SKIPPED OVER THAT ONE.
UM, AND I WILL AGREE TO A LOT OF THE THINGS THAT YOU JUST SAID, BUT I PERSONALLY HAVE, DON'T HAVE A LAWYER AND DON'T I, NO, I HAVE ANY IDEA OF HOW MUCH LIKE THINGS COST IN THAT FIELD.
SO IT WOULD BE A GOOD IDEA, A BETTER PRACTICE TO SEE, LIKE, JUST TO CHECK IN WITH THESE OTHER, UM, BUSINESSES TO SEE WHAT THEIR PRICING LOOKS LIKE.
THAT'S WHAT I WOULD SUGGEST, JUST TO SEE WHERE, WHERE WE'RE AT.
AND IF IT'S THE SAME, THEN GREAT, BUT IF NOT, THEN MAYBE THAT'S ANOTHER DISCUSSION
[00:55:01]
TO HAVE.I CAN TELL YOU, UH, WITH, AND I'VE SPENT A LOT OF TIME WITH MY CORPORATE LEGAL COUNSEL OVER THE LAST WEEK DEALING WITH SOME, UH, UH, CUSTOMER ISSUES, IF YOU WILL.
UM, I'M GETTING CHARGED $350 AN HOUR FOR THAT.
I MEAN, NO MATTER WHAT, LEGAL COUNSEL IS NOT CHEAP.
I MEAN, UM, GEORGE ARE MORE THAN WELCOME TO CHIME IN, BUT I MEAN, I'VE SEEN PRICES RANGE FROM 250 AN HOUR AND THAT'S ON A LOW END.
THAT'S A REALLY INEXPENSIVE, UH, ATTORNEY ALL THE WAY UP TO 500 OR A THOUSAND DOLLARS AN HOUR.
SO, UM, IT'S JUST LIKE FOR THE BIDDING PROCESS OF WHO OUR DEVELOPER IS GONNA BE, UM, FOR THE COTTONWOOD PROPERTIES, I'D LIKE TO SEE OPTIONS, RIGHT? SO LIKE, JUST BECAUSE LET'S SAY THE CITY MANAGER OR ANYBODY TELLS US A NAME, LIKE, HEY, THIS IS A GOOD COMPANY TO GO WITH.
IT'S STILL BETTER PROCESS AND PROCEDURE TO MAKE SURE THAT WE VIEW ALL OPTIONS OR DIFFERENT OPTIONS SO THAT IT'S NOT JUST ONE.
I, I WOULD SAY I AGREE WITH, UH, UH, SECRETARY ANCY CLANCY.
UM, I THINK IT'S GREAT TO SEE OPTIONS, UM, GOING THROUGH THIS BUDGET SEASON.
I THINK, YOU KNOW, WE HAD, UM, ON THE COUNCIL, WE ALWAYS HAD OPTIONS TO SEE WHAT, UM, WAS BEST WITH UTILIZING CITIZEN FINANCES, CITIZEN DOLLARS.
UM, AND SO BEING GOOD STEWARDS, BEING GOOD CARETAKERS OF, OF, OF TAXPAYER MONEY, UM, I THINK IT WOULD BE APPROPRIATE TO SEE, UM, WHAT'S OUT THERE AND JUST MAKE SURE, UH, YOU KNOW, THAT WE ARE, WE'RE GETTING COMPETITIVE PRICING.
UM, I THINK, YOU KNOW, WE ALL DO THAT IN OUR DAY JOBS AS FAR AS GETTING OPTIONS ON SEEING, YOU KNOW, WHAT'S BEST FOR, UM, YOU KNOW, FOR OUR INDIVIDUAL ROLES.
AND I THINK THIS WOULD BE SOMETHING THAT WOULD BE APPROPRIATE.
I AND CHENEY TALKED ABOUT HOW IT HAD BEEN THREE YEARS SINCE WE'VE DONE SOMETHING LIKE THIS.
AND SO, UM, I WOULD JUST BE IN AGREEANCE AND, UM, LOOKING AND SEEING, YOU KNOW, WHAT, WHAT ELSE IS OUT THERE? WELL, I GAVE Y'ALL MY OPINION.
I DON'T, I DON'T DISAGREE ON LOOKING AT PRICING, BUT I WILL SAY THIS, IT'S KIND OF LIKE, WELL, I WON'T USE AN ANALOGY.
I'LL JUST SAY YOU KIND OF GET WHAT YOU PAY FOR.
SO, ALTHOUGH WE MIGHT FIND SOMEBODY THAT MIGHT BE CHEAPER AND MAY BE ABLE TO CUT OUR BUDGET, UM, ULTIMATELY ONE LAWSUIT COULD THROW ALL THAT THROUGHOUT THE WINDOW.
SO, UM, I, I THINK THAT WHEN YOU'RE LOOKING AT ATTORNEYS, YOU'RE LOOKING AT BUILDING TRUST, YOU'RE BUILDING A RELATIONSHIP, AND YOU'RE BUILDING HISTORY.
UM, AND I, I FEEL LIKE I HAVE THAT I, I, MY, MY RELATIONSHIP WITH GEORGE, I FEEL LIKE I HAVE THAT WITH HIM.
UM, BUT I DON'T DISAGREE IN LOOKING AT IT AND SEEING QUALIFICATIONS.
BUT I WILL SAY THAT THAT'S KIND OF WHERE I STAND IS LIKE, I, I, WE MIGHT BE ABLE TO FIND A CHEAPER ALTERNATIVE, BUT ONE SMALL LAWSUIT, WE'LL THROW ALL THAT OUT THE WINDOW FOR YEARS.
UM, IF WE'RE NOT CAREFUL, OR YEAH.
LIKE I THINK THAT YOU'VE DONE A GREAT JOB.
LIKE THERE'S NO, THERE'S NO QUESTION.
AND THAT'S TRUE THAT WE DO HAVE TO DEVELOP, LIKE, RELATIONSHIP WITH OUR LAWYER AND MAKE SURE THAT THAT'S SOUND, BUT I DO THINK THAT IT'S PART OF THE PROCESS.
I THINK TOO, UH, WE WOULD NEED TO CONSIDER THE FACT THAT TRANSITION COST IS NEVER ZERO, RIGHT.
AND PARTICULARLY SINCE WE HAVE TWO VERY, VERY LARGE DEALS COMING UP, WE'VE GOT MEGASITE AND WE'VE GOT COTTONWOOD, AND GEORGE AND STEVEN HAVE KIND OF WALKED WITH US THROUGH THOSE, THOSE TWO VERY LARGE PROJECTS FOR THIS, FOR THIS BOARD AND, UH, TO BRING IN NEW TALENT, EVEN THOUGH THEY MAY BE GOOD TALENT, THEY'RE INEXPERIENCED TALENT.
UM, SO THAT IS WORTH SOMETHING.
IF I MAY JUST CHAIR, YOU ASKED ME TO COMMENT BRIEFLY.
UM, HAVING DONE THIS FOR AS LONG AS I HAVE, ONE REAL IMPORTANT THING IS THAT LOOKING AT, UH, ALLOCATION OF RIGHT, DOES NOT TELL YOU HOW LONG A PARTICULAR ATTORNEY OR STAFF TAKES TO DO THE JOB.
AND I'VE SEEN AND HAVE COMPETED, WHICH WHAT I CALL IS, IS SPEED DATING FOR LAWYERS.
BECAUSE WHEN YOU DO AN RFP, AND THEN YOU HAVE PEOPLE COME OUT AND MAKE PRESENTATIONS, YOU'VE, THEY'RE LIMITED 30 MINUTES TO AN HOUR.
AND THEN YOU'RE SUPPOSED TO HAVE THIS INTIMATE RELATIONSHIP WHERE YOU'RE GOING TO TALK TO, TO YOUR LAWYER ABOUT SECRETS.
AND THAT'S JUST, THAT'S JUST A LITTLE BIT OF A AWKWARD WAY THAT HOW LOCAL GOVERNMENT HAS SELECTED LAWYERS.
UM, BUT THE OTHER THING IS, IS THAT, YOU KNOW, AND, UM, IF, IF I MAY RELEASE SOMETHING ABOUT STEVEN, HE DID HIS ANNUAL REVIEW RECENTLY.
AND, UH, ONE OF THE THINGS THAT HE STRIVES FOR IS TO BE ABLE TO CITE THE ECONOMIC DEVELOPMENT CODE THE WAY I DO WITH REGARDS TO WHAT APPLIES.
[01:00:01]
ARE A NUMBER OF WAYS TO DO THIS JOB.AND WHAT I'VE DEVELOPED PERSONALLY IS I FEEL THAT IF YOU AS A BOARD WANT A PROJECT TO GO FORWARD, IT'S MY JOB TO FIND A WAY TO DO IT.
AND IF I CAN FIND A LEGAL WAY FOR YOU TO ACHIEVE YOUR GOAL, THEN I, I'VE DONE MY JOB TO ENABLE YOU TO DO WHAT YOU WANT TO DO.
BUT IF SOMEBODY, WITH MY EXPERIENCE HAVING DONE THIS FOR OVER 20 YEARS HAVE BEEN IT'S PROVEN, COMPLETED PROJECTS.
YOU KNOW, MY, MY BIGGEST RIGHT NOW IS THE $1.3 BILLION BASE CITY, UH, TENARIS PROJECT, WHICH RE RENOVATED THAT CITY.
AND AFTER THAT PROJECT, IT STARTED GAINING POPULATION AGAIN.
UM, BUT BE CAREFUL ABOUT WHAT YOU'RE DOING, BECAUSE SOMETIMES IF YOU LOOK AT A PROJECT, UM, AND IF, IF SOMEBODY SAYS THEY'RE $20 CHEAPER, WELL, IF IT TAKES THEM 15 MORE MINUTES TO DO THE JOB, THEN THEY'RE ACTUALLY GOING TO COST MORE.
AND SO YOU CAN'T JUST LOOK AT NUMBERS.
YOU HAVE TO HAVE A MUCH BROADER LOOK IF YOU'RE LOOKING FOR FUNDS, AND I'VE MENTIONED TO THE CHAIR, AND I'LL MENTION TO THE BOARD THAT IF THERE IS SOME REASONABLE AMOUNT OF MONEY THAT YOU BUDGET, I FELT THAT YOU BUDGETED A REASONABLE AMOUNT OF MONEY IN YOUR, IN YOUR DISCRETION FOR YOUR ANNUAL LEGAL FEES.
SO AN ALLOCATION OF THOSE FEES, I HOPE YOU DON'T HAVE TO PAY, YOU DON'T HAVE TO SPEND, BECAUSE THOSE WOULD MEAN THAT YOU HAD EXTRA PROJECTS OR OTHER ISSUES THAT YOU DIDN'T ANTICIPATE WHEN YOU DID YOUR BOARD.
BUT I AM FINE WITH, UM, DEVELOPING, UH, OUT OF YOUR, YOUR CURRENT BUDGET, A REASONABLE ALLOCATION TO BE A FLAT FEE AND GUARANTEE YOU THAT YOU DON'T HAVE ANY COST FOR YOUR GENERAL COUNSEL SERVICES.
NOW, IF YOU END UP IN A LAWSUIT, OR IF YOU HAVE SOMETHING THAT'S OUTSIDE OF THAT, THEN WE TALK ABOUT IT.
BUT, UM, IF, IF THAT WOULD SET YOUR MIND AT EASE WITH REGARDS TO COSTS, I'M MORE THAN WILLING TO, TO SIT DOWN AND, AND MAKE THAT ARRANGEMENT WITH Y'ALL, BECAUSE IT'S A LOT MORE FOR ME, HAVING BEEN A, A POLICE OFFICER FOR 25 AND A HALF YEARS, HAVING STARTED IN AS A PARK RANGER IN 1985 IN NEW BRAUNFELS WORKING FOR LOCAL GOVERNMENT, IS THAT THIS IS, THIS IS MY PRACTICE IS BEING A PUBLIC SERVANT.
AND SO I, I CHOOSE TO DO THIS JOB, NOT NECESSARILY TO MAKE MONEY.
IF I WANTED TO JUST MAKE MONEY, I'D BE A PRIVATE ATTORNEY THAT MAKES $700 AN HOUR.
BUT I, I'VE DEVOTED MYSELF TO LOCAL GOVERNMENT, AND THIS IS ONE OF THOSE THINGS I DID.
I THINK THIS BOARD HAS A NUMBER OF VERY IMPORTANT, HIGHLY TECHNICAL, COMPLICATED, HUGE DOLLAR ISSUES RIGHT NOW THAT, THAT IT WOULD, UM, PLACED THE ORGANIZATION AT A DISADVANTAGE.
AND EACH OF YOU, UNDER THE BUSINESS ORGANIZATION'S CODE HAVE A DUTY, A FIDUCIARY DUTY TO ACT IN THE BEST INTEREST OF THE CORPORATION.
AND PERSONALLY, I WOULD NOT RECOMMEND MAKING A CHANGE AT THIS TIME BECAUSE I DON'T THINK IT'S IN THE BEST INTEREST OF THE ORGANIZATION, UM, IN THAT YOU HAVE SOME SIGNIFICANT, UM, PROPERTY ISSUES AND OTHER ISSUES THAT NEED TO BE DEALT WITH.
SO CHAIR, I'LL MAKE A MOTION TO DIRECT CHENEY TO, UH, BRING BACK, UM, EXPLORATORY PRICING FOR THE TWO OPTIONS THAT WERE PRESENTED IN, UH, THE BACKUP MATERIAL.
WE HAVE A MOTION BY BOARD MEMBER THOMPSON, SECONDED BY SECRETARY CLANCY, UM, TO DIRECT STAFF TO, UM, CONTACT THE TWO, UH, FIRMS PRESENTED AT THE TOP OF THE, UH, PAPERWORK THAT'S PROVIDED TO, UM, PROVIDE PRICING AND THEN, UM, REPORT BACK TO COUNSEL.
IS THAT AN ACCURATE, OR EXCUSE ME, TO THE BOARD? IS THAT AN ACCURATE, UH, REPRESENTATION? YES, SIR.
I JUST WANNA SAY THAT, UM, BEING THE NEWEST MEMBER ON THE BOARD, UM, FOR ME, IT'S NOT ABOUT GEORGE.
UH, A LOT OF THINGS, THERE'S, THERE'S JUST A LOT OF STUFF GOING ON, AND SO IN THE MIDDLE OF TRYING TO DO SOME THINGS, BUT JUST BEING TRANSPARENCY, AND SOMETIMES IT'S BETTER JUST TO GO OUT AND DO IT AND SAY, OH, WE GOT A GOOD DEAL.
WE GOT A GOOD THING GOING HERE.
AND SO JUST DOING THAT DUE DILIGENCE.
UM, AS FAR AS GOING OUT, SEEING WHAT'S OUT THERE, LIKE I SAY, COME BACK AND JUST MIGHT SAY, HEY, THIS IS, THIS
[01:05:01]
IS GOOD.WE, WE'VE GOT A GOOD THING GOING AND WE'RE GONNA KEEP ROLLING WITH IT.
SO FOR ME, IT'S NOT A, A ANYTHING BE, UH, FOR OUR ATTORNEYS.
JUST GOING OUT AND JUST SEEING WHAT'S OUT THERE AND JUST REALIZING WE MAY HAVE SOMETHING GOOD.
SO, AND TO ME, CHENEY, IT'S NOT ABOUT PRICING NECESSARILY.
SO, UM, I, I DIDN'T LOOK THROUGH YOUR, I APOLOGIZE.
I PROBABLY SHOULD HAVE LOOKED MORE THROUGH IT.
SO IF YOU, IF YOU WERE TO, IF THE BOARD WERE TO GIVE YOU DIRECTION ON THAT, THAT'S WHAT I WOULD BE MOST INTERESTED IN SEEING AND JUST NOT JUST A PRICE.
SO DOES THAT MAKE SENSE? NODDING YES, BUT I'M JUST MAKING SURE.
ANY FURTHER DISCUSSION? CARRY NONE.
MS. BAKER, DISCUSS AND CONSIDER APPROVAL OF THE SEPTEMBER MONTHLY FINANCIAL REPORT.
NO, YOU'LL SAVE YOURSELF A TRIP IF YOU JUST SAT IN THE FRONT ROW.
CHRISTINA BISHOP, CITY CONTROLLER.
UH, TONIGHT ON THE AGENDA, YOU HAVE THE SEPTEMBER, 2023 FINANCIAL REPORT FOR REVIEW AND APPROVAL.
UM, I'M GONNA KEEP IT PRETTY BRIEF BECAUSE LAST MEETING WE SPENT A GOOD AMOUNT OF TIME DISCUSSING THE FISCAL YEAR 2023 ACTIVITY, UH, AND THE NEGATIVE VARIANCES TO THE BUDGET AND EVERYTHING THAT WENT INTO THAT.
UH, IN THE LAST FEW WEEKS, THERE HAVEN'T BEEN ANY SIGNIFICANT, ANY CHANGES AT ALL, REALLY TO YOUR FINANCIAL POSITION OR ANYTHING THAT OCCURRED IN THE BUDGET.
UM, BUT WHILE I'M UP HERE, I DO WANNA TOUCH ON ONE THING.
THE WELLS FARGO ACCOUNT IS OPEN.
I DID INCLUDE THE STATEMENT IN YOUR FINANCIAL PACKETS.
UM, I WAS A LITTLE SURPRISED WHEN I SAW THE STATEMENT BECAUSE THERE WAS A $475 CLIENT ANALYSIS FEE AND ONLY $70 IN INTEREST.
SO I IMMEDIATELY REACHED OUT TO OUR, UH, RELATIONSHIP MANAGER BECAUSE A, I THOUGHT THAT WE HAD SET IT UP SO THAT ANY INTEREST WAS GOING TO OFFSET THOSE FEES, AND MORE IMPORTANTLY, THAT WE HAD STRUCTURED IT SO THAT THERE WAS A RELATIONSHIP BETWEEN THE EDC AND THE CITY SO THAT THE EDC CAN TAKE ADVANTAGE OF THE CITY'S BALANCES.
AND THAT WOULD REALLY, UM, YOU'RE SHAKING YOUR HEAD NO, I WAS GONNA SAY, DID THEY DO THAT? THEY'RE WORK? YES.
I WAS LIKE, OH, NO, I MISUNDERSTOOD WHAT THE DIRECTION WAS.
UM, BUT YES, SO I HAVE, UH, I'VE ACTIVELY STARTED WORKING ON THAT TO GET THAT TAKEN CARE OF BECAUSE THE CITY KEEPS A PRETTY GOOD AMOUNT OF MONEY IN WELLS FARGO.
SO, UM, I THINK STARTING IN NOVEMBER IT WILL BE STRUCTURED CORRECTLY.
UM, THAT I THINK IS THE MAIN THING I WANTED TO TOUCH ON.
I SENT OUT THE FINANCIAL REPORT ON THURSDAY TO EVERYONE, SO, UM, I HOPE YOU HAD A LITTLE BIT OF TIME TO REVIEW, UH, AND COME UP WITH ANY QUESTIONS YOU MAY HAVE FOR ME.
UM, SO I'LL OPEN IT UP TO YOU ALL AT THIS POINT.
THAT WAS REALLY, IT WAS REALLY, UM, GOOD TO GET THAT MUCH, UM, DETAIL ON OUR, JUST OUR FINANCIAL SITUATION.
UM, I DIDN'T HAVE ANY QUESTIONS, UM, BUT THERE WAS ONE, JUST TO BE MINDFUL OF.
I CAN'T SEEM TO FIND IT RIGHT NOW.
I'LL MOVE, I'LL MOVE, I'LL MOVE ON TO SOMEBODY ELSE.
BUT NO, AGAIN, THANK YOU SO MUCH FOR THE, FOR THE DETAIL.
AND IF YOU EVER, IF YOU, IF IT COMES TO MIND YOU, YOU CAN EMAIL ME AT ANY TIME AND I'M HAPPY TO ANSWER.
IS THAT JUST PRODUCT TYPE THEY YOU AN ANALYSIS ACCOUNT AND THEY'RE JUST, THAT'S WHAT THEY CHARGE FOR THE ANALYSIS ACCOUNT,
AND I ALSO TOLD THEM, ONCE WE HAVE A FULL MONTH OF ACTIVITY, I WANNA REVIEW THE CLIENT ANALYSIS STATEMENTS TO SEE, YOU KNOW, WHAT WE'RE BEING CHARGED FOR AND IF THERE'S ANY COST SAVINGS WE CAN COME UP WITH.
AND THERE ARE A COUPLE OF EXPERTS ON THIS BOARD.
SO IF I
I MEAN, WE DO HAVE A SEPARATE CHARGE FOR OUR CHECK PRINTING, WHICH IS RIGHT THERE.
SO I WAS A LITTLE BIT SURPRISED TO SEE 4 75, WHETHER THIS IS ONE-TIME FEES.
AND I WAS GONNA DIVE IN ONCE WE HAD A FULL MONTH.
'CAUSE THIS I THINK IS LIKE A HALF MONTH.
[01:10:01]
I, I CAN TELL YOU THAT MIGHTY, MY, MY COMPANY DOES NOT BANK WITH WELLS FARGO, USE BANK OF AMERICA.BUT, UH, I CAN TELL YOU THAT FROM A BANK OF AMERICA STANDPOINT, THERE IS A MINIMUM FEE THAT IS ESTABLISHED TO HAVE THE ACCOUNT, WHICH THAT SOUNDS LIKE THAT'S ESSENTIALLY WHAT IT IS.
UH, HOWEVER, THEIR EARNINGS CREDIT, UH, THEY CALL IT INTEREST IS, UH, UH, DESIRE SOME IMPROVEMENT.
UM, BUT, YOU KNOW, WHILE YOU'RE UP HERE AND WHILE, YOU KNOW, UM, SITTING, SO A LITTLE ACTIVITY, I WOULD HIGHLY RECOMMEND IT SOUNDS LIKE THAT OKAY, I COULD GET A BOOK OF CHECKS IF YOU HAD LIKE A THREE ON A PAGE BOOK, HUGE BOOK OF CHECKS.
THEY, THEY MIGHT MIGHT'VE CHARGED YOU A COUPLE HUNDRED DOLLARS.
BUT THE REST OF IT, THAT, THAT DOESN'T E EVEN ON AN ANALYSIS ACCOUNT, MEANS THAT THEY'RE LOOKING AT ALL THE DEPOSITS, ALL THE WITHDRAWALS, AND THEY'RE MAKING A PERCENTAGE OF THAT BASED UPON HOW MUCH YOU HAVE IN MONEY.
AND IT SOUNDS LIKE WE DON'T HAVE ANY OF THAT.
SO I DON'T KNOW WHERE THAT, I WOULD BE CURIOUS TO SEE WHAT A FULL MONTH LOOKS LIKE.
AND THAT WOULD BE SHOCKING IF IT'S 4 75.
AND I CAN INCLUDE THE CLIENT ANALYSIS STATEMENT IN NEXT MONTH'S PACKET.
IF YOU WOULD LIKE, CAN JUST SEND IT DIRECTLY TO SEAN
NO, UH, WHILE, UH, YOU KNOW, JAMES, OUR CITY MANAGER IS SITTING HERE IN THE ROOM, UM, I THINK IT'S ACTUALLY IMPORTANT FOR ME TO, TO ACTUALLY STATE THE, THE OBVIOUS.
BUT I'VE BEEN HERE FOUR OR FIVE YEARS.
YOU HAVE BEEN THE MOST DETAILED PERSON WHEN IT COMES TO THE EDC FINANCIALS THAT I'VE SEEN THE ENTIRE TIME SINCE I'VE BEEN HERE.
AND WHAT I'VE LEARNED IN BUSINESS OVER THE LAST 20 YEARS THAT I'VE BEEN DOING THIS, ALWAYS COMES BACK TO, HEY, IF SOMEBODY KNOWS THEIR BUSINESS AND THEY'RE ABLE TO SPEAK TO IT AND THERE'S NO UHS, OR HEY, LEMME GET, YOU KNOW, WHATEVER, LIKE, YOU KNOW, YOUR STUFF AND IT'S EVIDENT JUST BY, WE DON'T GET A LOT OF, YOU KNOW, UH, LEMME GET BACK TO YOU.
IT'S LIKE, NOPE, IT'S THIS, THIS, THIS, AND YOU COME PREPARED.
AND THAT TO ME JUST SCREAMS YOU KNOW WHAT YOU'RE DOING AND YOU'RE TAKING CARE OF THE EDC ON A DAILY BASIS.
UH, ANYTHING ELSE I CAN ANSWER? NO.
WE ACCEPT THE FINANCIAL REPORT AS PRESENTED.
UH, WE HAVE A MOTION BY BOARD MEMBER MITTEN, SECONDED BY VICE CHAIR LUCAS APPROVING FINANCIAL.
JUST PRESENTED OPEN UP FOR DISCUSSION.
ROLL CALL BOARD MEMBER MINTON AYE.
ITEM SEVEN THREE, DISCUSS AND CONSIDER ACTION TO APPROVE THE MINUTES FROM THE CORPORATION'S MEETING ON OCTOBER 2ND.
I'LL MAKE A MOTION TO APPROVE MINUTES.
IS THAT YOU, TERRENCE? YES, SIR.
WE HAVE A MOTION BY SECRETARY CLANCY.
SECONDED BY BOARD MEMBER OWENS TO APPROVE MINUTES AS PRESENTED.
ROLL CALL BOARD MEMBER OWENS AYE.
MOTION PASSES SEVEN OH ITEM SEVEN FOUR.
DISCUSS AND CONSIDER ACTION TO ENGAGE PROFESSIONAL CONSULTANTS TO PERFORM LAND PLANNING AND DEVELOPMENT SERVICES, UH, TO THE CORPORATION FOR THE DEVELOPMENT OF THE COTTONWOOD PROPERTIES.
UH, SO THE BOARD RECEIVED SEVERAL PRESENTATIONS FROM MASTER PLANNERS AND MASTER DEVELOPERS PRIOR TO THE MEETING.
UM, PLEASE NOTE THIS ITEM WAS PLANNED FOR EXECUTIVE SESSION.
HOWEVER, LEGAL HAS ADVISED THAT IT IN ITS CURRENT FORMAT, IT'S NOT ELIGIBLE FOR CONSIDERATION OR DISCUSSION IN EXECUTIVE SESSION.
UM, SO GIVEN THAT UPDATED INFORMATION, I DID REMOVE SOME OF THE FINANCIAL INFORMATION THAT I THOUGHT TO BE CONFIDENTIAL OR PROPRIETARY.
SO IF YOU'D LIKE TO SEE THE FULL PRESENTATION, I'M HAPPY TO SHARE THAT WITH YOU IN SMALL GROUP, UM, OR HOWEVER YOU'D LIKE TO DO THAT.
BUT I DIDN'T WANT THAT TO BE A PART OF THE PUBLIC DISCUSSION.
SO, UM, ALSO IN LIGHT OF THE SHIFT TO, UH, THE PUBLIC DISCUSSION, I'D ASK THAT THE BOARD USE A LITTLE BIT OF DISCRETION WHEN DISCUSSING ANY POTENTIALLY SENSITIVE INFORMATION.
UM, OBVIOUSLY WE WANNA HAVE A ROBUST CONVERSATION, BUT AGAIN, WE WERE EXPECTING TO HAVE THIS CONVERSATION IN EXEC.
SO, UM, SO STAFF IS SEEKING SOME FEEDBACK ON THE OPTIONS THAT WERE PROVIDED FOR BOTH THE PLANNER OPTION AS WELL AS THE DEVELOPER.
UM, AND THEN ALSO, UH, JUST ON NEXT STEPS, SO PREVIOUSLY YOU'D INDICATED YOU WOULD LIKE SOME PRESENTATIONS.
SO I'M JUST LOOKING TO SEE WHICH, IF ANY, YOU WOULD LIKE TO HAVE PRESENTATIONS.
[01:15:01]
THOSE TO BE AT THE 1113 MEETING.UM, WAS THERE MORE THAN ONE? I, ALL I SAW ON THE BACKUP WAS LIKE ONE DEVELOPER.
WAS THERE MULTIPLE OPTIONS? THERE WERE TWO PLANNERS AND FOUR DEVELOPERS.
SO IF IT WAS ORIGINALLY PLANNED FOR EXEC, IF WE, WHAT CAN WE TALK ABOUT OUT HERE WITHOUT BASICALLY, 'CAUSE ALL THE NOTES THAT I HAVE IS BASED OFF OF WHAT WILL GO IN EXEC.
SO I I DON'T WELL, AND I WAS GONNA MAKE THE MOTION TO MOVE THIS BACK TO EXEC.
I WOULD DEFER TO LEGAL ON SPECIFICALLY WHAT YOU'RE TRYING TO DISCUSS AND WHETHER THAT NEEDS TO BE, SO IN, IN ORDER TO DISCUSS AN ITEM IN EXECUTIVE SESSION, THE SUBJECT MATTER AND THE DISCUSSION HAS TO FALL WITHIN EXPLICIT NARROW STANDARDS, UNDER THE OPEN MEETINGS ACT AND IN SELECTING A CONTRACTOR TO PERFORM DEVELOPMENT WORK OR SELECTED A CONTRACTOR TO PERFORM PLANNING WORK, THERE IS NO, I, UM, THERE'S NO EXCEPTION UNDER THE OPEN MEETINGS ACT THAT ALLOWS FOR THAT TYPE OF DISCUSSION TO GO ON.
IF YOU HAVE SPECIFIC LEGAL QUESTIONS REGARDING THE, UM, PRESENTATIONS, THEN YOU CAN DISCUSS AND ASK AND GET THOSE LEGAL QUESTIONS ANSWERED IN THE EXECUTIVE SESSION.
BUT THE REGULAR DISCUSSION OVER WHO DO YOU THINK IS THE BEST PERSON AND WHO YOU THINK YOU'D LIKE TO SELECT OR WHAT ALL OF THOSE KIND OF DISCUSSIONS ARE NOT ELIGIBLE FOR EXECUTIVE SESSION UNDER THE LAW.
AND SO, UM, BECAUSE I HAVE TO APPROVE IN ORDER TO GIVE YOU A LEGAL DEFENSE TO BEING INVOLVED IN AN OPEN MEETING, UH, VIOLATION BY ACCIDENT, UM, I, UM, SPECIFICALLY, UH, UM, APPROVE YOUR MEETINGS AS, UH, OPEN MEETING COMPLIANT TEXAS OPEN MEETINGS AT COMPLIANT.
AND SO, EVEN IF I'M WRONG AND YOU'RE IN, YOU WOULD VIOLATE THE OPEN MEETINGS ACT BECAUSE OF A, A, A, UH, MISTAKE THAT HAS OCCURRED ON THE AGENDA, THEN YOU STILL MAINTAIN A LEGAL DEFENSE FROM BEING PROSECUTED FOR A CLASS B MISDEMEANOR, WHICH IS THE VIOLATION IF THE BOARD DID.
AND SO I HAVE TO USE, UM, SPECIFIC AND, AND CONSERVATIVE ADVICE IN ORDER TO PROTECT THE BOARD FROM ANY POTENTIAL TO VIOLATE THE OPEN MEETINGS ACT.
AND SO IT, IT'S, UM, I MEAN, I THINK OF ECONOMIC DEVELOPMENT.
WELL, WHAT IS IT THAT WE WOULD NEED TO TALK ABOUT ABOUT ECONOMIC DEVELOPMENT RELATED TO HIRING THE DEVELOPER OR THE PLANNER THAT WOULD HARM US IN LATER NEGOTIATIONS WITH REGARDS TO AN INCENTIVE? I, I DON'T KNOW OF ANY IF IT'S REAL ESTATE.
WELL, BUT WE HAVE, THE ONLY THING ABOUT REAL ESTATE THAT YOU CAN DISCUSS ARE THOSE THINGS THAT WOULD, UM, CREATE A, A HARM FOR YOU IF YOU WERE TO DISCUSS THEM IN PUBLIC SESSION.
SAY THAT, YOU SAY, OKAY, WELL WE WON'T TAKE ANYTHING LESS THAN A MILLION DOLLARS.
WELL, IF YOU SAY THAT IN OPEN SESSION, THAT OBVIOUSLY GUESS WHAT, YOU'RE GONNA PAY A MILLION DOLLARS 'CAUSE YOU MADE IT PUBLIC AS TO WHAT YOUR, YOUR AMOUNTS WERE.
SO THAT'S, THAT'S WHAT YOU CAN TALK ABOUT IN EXECUTIVE SESSION OR REAL ESTATE, UM, ATTORNEY CLIENT.
YOU HAVE FACTUAL INFORMATION THAT YOU MAY NEED TO EXPLAIN TO ME SO I CAN PROVIDE LEGAL ADVICE.
'CAUSE LEGAL ADVICE IS YOU HAD FACTS AND WE APPLY THE LAW AND WE GIVE YOU YOUR LEGAL OPINION.
IT DOESN'T APPLY TO PERSONNEL.
IT'S NOT, I MEAN, THOSE ARE THE TYPES OF AREAS THAT THIS WOULD TYPICALLY BE LOOKED AT.
AND IN MY ANALYSIS, I WAS NOT ABLE TO FIND A REASONABLE MEANS BY WHICH TO SHOEHORN THIS INTO ONE OF THOSE EXCEPTIONS.
UH, GENERALLY HIRING DEVELOPERS AND, AND, AND BIDDING PROJECTS AND SELECTING, UH, THOSE INDIVIDUALS, UM, FOR LIKE CITY COUNCILS ARE ALSO NOT DISCUSSED IN EXECUTIVE SESSION.
SO, UM, SO HERE, IF THERE'S A LEGAL QUESTION YOU COULD MOVE FOR EXECUTIVE SESSION, UH, OR IF THERE'S SOMETHING SPECIFIC TO SOME ECONOMIC INCENTIVE DEAL THAT YOU HAVE QUESTIONS ON AND WANT TO DELIBERATE ON, THOSE THINGS CAN GO INTO EXEC.
BUT JUST THE DISCUSSION WITH REGARDS TO THE RETENTION OF THIS CONTRACT, IT IS NOT, DOESN'T FALL WITHIN THE PERMISSIBLE SECTIONS OF THE TEXAS OPEN MEETINGS ACT.
THIS WOULD BE MY, AND THANK YOU GEORGE.
UM, THIS WOULD BE MY RECOMMENDATION TO THE BOARD.
UM, AND THIS IS WHAT YOU SEE WITH A LOT OF CITY STUFF IS STAFF, HEY, STAFF, GO DO THIS.
UM, AND I THINK THAT'S SOMETHING WHERE, UH, WE'VE HAD, YOU KNOW, FEEDBACK FROM, YOU KNOW, ALL OVER THE PLACE AS IT RELATES TO, TO THIS IN PARTICULAR.
UH, AND I THINK THAT, YOU KNOW, UM, YEAH, WE, WE DIRECTED CHENEY AND SAID, HEY, GO OUT AND, AND FIND SOME, SOME PEOPLE.
[01:20:01]
DID.UM, I THINK WHERE I'D SEE IT GOING NEXT, JUST SAYING, HEY, YOU FOUND THE PEOPLE.
OKAY, WELL NOW YOU TELL ME WHO WOULD THINK OR YOU THINK IT SHOULD BE.
UM, THAT SOLVES BASICALLY ALL OF THE PROBLEMS THAT GEORGE HAS IN ESSENCE BECAUSE, YOU KNOW, IT DOESN'T NEED TO BE OUT IN THE OLD ONE.
ALL IT'S COMING TO THE TABLE IS, HEY, IT'S GONNA BE, YOU KNOW, I RECOMMEND THESE GUYS AND HERE'S, YOU KNOW, WHAT IT'S GONNA COST US.
WAIT, I ALSO WANNA SAY LIKE, THAT WASN'T MY QUESTION THOUGH.
LIKE, SO I THINK YOU'RE, I'M LIKE RIGHT AT THE CORNER, YOU'RE LIKE DOWN THE STREET.
I JUST WANTED TO DISCUSS THE PARTICULAR DESIGNER, LIKE SHE HAD SELECTED.
LIKE, I JUST WANNA MAKE SURE THAT I CAN TALK ABOUT THAT HERE.
LIKE THE GFF AS WELL AS DESIGN WORKS.
AND YEAH, ALL OF THOSE ARE, UM, TOTALLY APPROPRIATE FOR YOU TO DISCUSS IN, IN A PUBLIC SESSION.
SORRY, I DIDN'T MEAN TO CUT YOU OFF.
SO WITH THAT BEING SAID, ONE OF THE THINGS WITH GFF THAT I LIKED IS, UH, ASANA DEEP, WHICH IS IN DEEP EL DEEP.
I ALWAYS CALL IT DEEP ELM IS DEEP ELM, I THINK TEXAS.
SO THE, ONE OF THE THINGS THAT I LIKE ABOUT IT IS THAT IS IT HAS A VERY, IT LOOKS SIMILAR TO THE DESIGN LANGUAGE THAT'S ON, IT'S KIND OF A HYBRID, LIKE RUSTIC LOOK, BUT IT'S GOOD BECAUSE IT MAKES USE OF EXISTING INFRASTRUCTURE.
BUT THEY HAVE A GREAT BACKGROUND OF BOTH TO WHERE THEY'RE GOOD AT REDEVELOPING, BUT THEY'RE ALSO GOOD AT NEW DEVELOPING.
THE DOWNSIDE TO THEM IS THAT THEY ARE HUGE AND THERE'S A LOT OF MOVING PARTS.
THEY HAVE LIKE OVER LIKE 200 SOMETHING EMPLOYEES AND THEIR FOOTHOLD IN TEXAS, THEY'RE STILL GROWING IT VERSUS DESIGN WORKS.
I LIKE DESIGN WORKS A LOT BECAUSE THEY HAVE A LOT OF ROOTS IN TEXAS AND I LIKE THE DESIGN OF MOUNT BELL.
IT'S, I THINK IT'S LIKE MOUNT BELLEVUE.
BELLEVUE BE MOUNT BELLEVUE, UH, CENTER MASTER PLAN.
AND ALSO I LOVE THE HATCHERY, WHICH IS IN EAST AUSTIN NOW.
AND THOSE, THE REASON WHY I LIKE THOSE IN PARTICULAR IS BECAUSE THEY HELP SHOWCASE, PARTICULARLY ALONG WITH NORTHLINE LEANDER, WHAT WE ENVISION POTENTIALLY COULD GO OUT ON 79, ESPECIALLY NORTHLINE LEANDER BECAUSE IT HAS A SIMILAR TOPOGRAPHY, BUT ALSO IT'S SOMETHING THAT WE CAN CITE REGIONALLY.
AND THEY'VE HAD SUCCESS WITH IT SINCE 2019 WHEN IT WAS FIRST ANNOUNCED.
AND THEY HAVEN'T RUN INTO ANY MAJOR HICCUPS.
AND THEY WERE THE ONLY ONE THAT CITED THE COMP 2040 PLAN, WHICH I THOUGHT WAS IMPRESSIVE BECAUSE THAT MEANS THAT THEY ACTUALLY PAY ATTENTION TO THE DETAILS OF THE CITY VERSUS GFF IS LIKE WHERE GFF GO WITH US.
I KNOW A FEW PEOPLE THERE AND I KNOW A FEW PEOPLE AT DESIGN WORKS AND JUST FROM A COMPANY STANDPOINT AND BUILDING THOSE RELATIONSHIPS, I LIKE DESIGN WORKS A LITTLE BIT BETTER, BUT GFF HAS GREAT EXPERIENCE WITH PUBLIC AND PRIVATE DEVELOPMENT.
ANYBODY ELSE? WELL, I'VE WORKED WITH GFF BEFORE AND A PRIOR, UM, THE COMPANY THAT I'VE WORKED PRIOR.
UM, SO I LIKE THAT RELATIONSHIP, BUT I WOULD LIKE A LITTLE BIT MORE TIME BECAUSE WHEN, UM, WHEN WE'VE SAVED EVERYTHING IT SAID CP AND THEN IT SAID THE EXACT SAME THING.
SO I THOUGHT THEY WERE BALL THAT ALL, THEY WERE ALL THE SAME COMPANY.
SO THAT'S MY MISTAKE ON, UM, NOT JUST THE, FOR THE DEVELOPER SIDE.
UM, BUT AS FAR AS ON THE MASTER PLANNING, UM, I LIKE THEIR WORK IN COTTONWOOD PROPERTIES.
I FEEL LIKE WE HAVE A CERTAIN HISTORY WITH THEM.
AND THEN ALSO, ONE LAST THING REGARDING NORTHLINE LEANDER THAT'S IMPORTANT IS AS WE SEE THE LAND DEVELOP, WE ALSO DISCUSSED THE MUNICIPAL BUILDINGS THAT COULD POTENTIALLY GO ON THAT SITE.
SO NORTHLINE LEANDER HELPS ENCOMPASS THAT AS WELL, WHICH I THINK IS IMPORTANT AS WE START TO REALLY ENVISION HOW WE SEE IT.
NORTHLINE, LEANDER IS PROBABLY THE CLOSEST COMPARISON BETWEEN HAVING
[01:25:01]
MUNICIPAL BUILDINGS AS WELL AS MIXED RETAIL AND RESIDENTIAL ALL ON ONE SITE, WHILE ALSO STILL HAVING A WILLIAMSON COUNTY APPROACH TO IT.AND THEY'RE LIKE, NOT TOO FAR FROM US.
I GUESS MY QUESTION WOULD BE STAFF RECOMMENDATION ALSO.
YOU KNOW, I'M USED TO DOING A SCORECARD, YOU KNOW, WHEN WE'RE DOING, LOOKING AT DIFFERENT VENDORS.
AND SO I GUESS MY QUESTION IS HOW MANY DO WE WANT TO BRING BACK? I MEAN, WHAT'S THE CUTOFF OR, YOU KNOW, DO WE BRING ONE DEVELOPER AND TWO MASTER PLANNERS OR TWO DEVELOPERS AND TWO AND THREE MASTER PLANNERS.
JUST, I GUESS JUST TRYING TO FIGURE OUT FROM THE BOARD STANDPOINT, UM, WHAT THAT'S GONNA LOOK LIKE ON WHO WE PICK AND CHOOSE.
CHENEY, WHAT ARE YOUR THOUGHTS? YEAH, STAFF RECOMMENDATION,
UM, THEY'RE BOTH VERY QUALIFIED AND I FEEL CONFIDENT THAT THEY COULD DO A GREAT JOB FOR THE BOARD.
UM, THERE BEING ONLY TWO THAT WERE BROUGHT FORWARD AT THIS TIME.
I FEEL LIKE THAT IS MY RECOMMENDATION,
UM, AND I KNOW THAT IN PREVIOUS CONVERSATIONS THE BOARD HAD REQUESTED ALSO HAVING THESE FOLKS COME IN AND PRESENT, BECAUSE THAT DOES ADD ANOTHER LAYER.
THIS IS GONNA BE A LONGER TERM RELATIONSHIP.
THIS IS YOUR LEGACY PROJECT AS A BOARD, WHICH I WILL REMIND YOU OF EVERY CHANCE I GET
UM, SO I THINK, YOU KNOW, IF YOU FEEL GOOD, IF THERE'S NO OBJECTIONS OR CONCERNS ABOUT THE PLANNERS, I WOULD ENCOURAGE YOU TO INVITE BOTH AND, AND FEEL THE VIBE FROM TREASURER KOMENS, UH, PREVIOUS WORDS AND KIND OF SEE WHO YOU JIVE WITH AND, AND GET A LITTLE BIT MORE GRANULARITY INTO WHAT THEY FORESEE FOR THE COTTONWOOD PROPERTIES.
BECAUSE IF YOU'LL RECALL, YOU DIRECTED STAFF TO KIND OF ENGAGE AT A HIGHER LEVEL.
WHAT PROJECTS HAVE THEY DONE? ARE THEY OF THIS SIZE? ARE THEY IN TEXAS? ARE THEY ACTUALLY BUILT OUT? HOW ARE THEY DOING? UM, KIND OF HIGHER LEVEL THINGS.
SO NOW THAT YOU HAVE THAT INFORMATION, IT'S REALLY UP TO YOU HOW YOU'D LIKE TO PROCEED.
WHO YOU'D LIKE TO HEAR FROM IN PERSON AND ALSO GET DOWN INTO A LITTLE BIT MORE DETAIL IS WHAT THEY FORESEE FOR THE COTTONWOOD PROPERTIES THEMSELVES, NOT JUST THEIR BOOK OF BUSINESS TO THIS POINT.
AND I'D ALSO LIKE TO GET SOME, UH, INPUT TOO FROM OUR CITY MANAGER.
UM, SO THERE'S A COUPLE THINGS THAT PLAY HERE.
I THINK, UM, FIRST AND FOREMOST, THERE WAS NOT A FORMAL GRADING OF THE RESPONSES.
THERE WAS NOT A FORMAL GRADING OF THE RESPONSES BECAUSE WE ARE STILL TRYING TO NAVIGATE EXACTLY WHAT THE BOARD WAS LOOKING FOR.
SO, UM, MY UNDERSTANDING IS THERE WAS SOME DISCUSSION ABOUT DO WE USE A MASTER PLANNER? DO WE USE A MASTER DEVELOPER? WHAT ARE THE DIFFERENCES? SO LET'S SEE WHO MIGHT BE INTERESTED IN DOING BUSINESS WITH US BASED OFF OF, YOU KNOW, OUR CRITERIA AND SEE WHO RESPONDS.
SO THAT WENT OUT ONTO THE STREETS AND WE GOT A GOOD RESPONSE.
I MEAN, THE FOLKS WHO RESPONDED ARE, WELL-KNOWN, UM, YOU'VE TALKED ABOUT THE TWO PLANNERS, BUT THE FOUR MASTER DEVELOPERS ARE ALSO WELL KNOWN.
UM, THAT'S A MO MARK, UH, MIDWAY RED OAK AND JLL.
THOSE ARE ALL WELL-KNOWN QUANTITIES, UH, AS WELL.
SO, UM, GENERALLY I THINK THE LAST THING THAT, UM, THAT MS. GAMBOA SAID, UH, WHICH IS COMPLETELY RELEVANT, IS WHOEVER WE SELECT WE ARE GOING TO BE IN THIS RELATIONSHIP WITH FOR 15 TO 20 YEARS.
THIS IS A LONG TERM, YOU KNOW, PROJECT.
THIS IS NOT SOMETHING THAT YOU'RE ABLE TO GET IN AND OUT OF VERY QUICKLY IF WE'RE DEVELOPING THE LAND.
SO THE DIFFERENCE BETWEEN THE TWO, AND THIS IS WHY THEY'RE BOTH BEING BROUGHT TO YOU AS AS POSSIBLE.
AND I, AND REALLY IT SOUNDS TO ME LIKE Y'ALL PROBABLY WANT TO INTERVIEW FOLKS ON BOTH SIDES OF THE AISLE SO YOU CAN KIND OF GET A FEEL FOR THE DIFFERENCES.
MASTER PLANNERS ARE VERY GOOD AT WHAT THEY DO.
MASTER DEVELOPERS ARE VERY GOOD AT WHAT THEY DO.
AND SOME OF THE MASTER DEVELOPERS THAT RESPONDED HAVE MASTER PLANNERS INSIDE OF THEIR ORGANIZATION TOO.
SO AS YOU'RE TRYING TO NAVIGATE THOSE TWO ARENAS, THE, THE PRIMARY DIFFERENCE IS A, A PLANNER IS MORE THAN WILLING TO COME UP WITH THE PLAN, BUT THEN THEY HAND IT TO YOU AND THEN YOU DEVELOP THE, THE MASTER DEVELOPER IS MORE THAN HAPPY TO TAKE THE PLAN AND THEN GO DEVELOP.
AND THEN SOME ARE BOTH, THEY BA THEY BOTH HAVE BOTH IN-HOUSE.
SO THEY BOTH PLAN AND THEY IMPLEMENT THE PLAN.
SO I THINK THAT'S THE CONVERSATION Y'ALL HAVE TO DECIDE WHERE YOU WANT TO END UP AS A BOARD.
WHAT ARE YOU GONNA FEEL MORE COMFORTABLE WITH? WHAT LEVEL OF RISK ARE YOU WILLING TO TAKE? UM, YOU KNOW, WHAT TYPE OF INVESTMENTS ARE WE GONNA BE PUTTING INTO IT? ARE WE GONNA BE TAKING VERY LITTLE RISK JUST HOLDING THE LAND AND
[01:30:01]
PARTNERING WITH A, WITH A DEVELOPER TO COME IN AND DO THE WORK SO LONG AS IT MEETS THE VISION OF WHAT EVERYONE AGREES IS THE VISION.SO I THINK THAT'S WHERE YOU'RE AT.
AND UM, I CERTAINLY THINK THAT, YOU KNOW, YOU COULD, YOU COULD PAIR THE, THE MASTER DEVELOPER LIST DOWN TO HALF TO TWO.
YOU COULD DO TWO, AND THEN THE OTHER TWO PLANNERS ARE, YOU KNOW, IT'S, YOU CAN'T REALLY PAIR THAT LIST DOWN MUCH MORE THAN WHAT IT IS UNLESS YOU JUST PICK JUST ONE, OBVIOUSLY.
SO I WOULD ALMOST THINK THAT MAYBE YOU JUST HAVE PRESENTATIONS FROM THE FOUR OF THEM AT EITHER A SPECIAL BOARD MEETING OR YOUR NEXT BOARD MEETING AND YOU HAVE AN OPPORTUNITY TO KIND OF GET, TO GET A FEEL FOR WHAT THE DIFFERENT ENTITIES OFFER.
UM, I THINK, I THINK I KNOW ALL OF THEM.
SO I, I I, I DEFINITELY HAVE MY DRUTHERS, BUT UM, I DON'T THINK WE COULD GO WRONG DEPENDING ON WHAT IT IS THAT WE AS A BODY, AS YOU, AS A BODY DECIDE THAT YOU'RE WANTING.
'CAUSE IF YOU'RE WANTING SOMEONE TO JUST DO THE PLAN AND THEN WE'RE GONNA HANDLE THE DEVELOPMENT ASPECT, WELL THEN YOU DON'T REALLY NEED A MASTER DEVELOPER.
BUT IF YOU'RE GONNA NOT WANT TO DO THAT ASPECT AND YOU'RE GONNA WANT THEM TO GO FIND PEOPLE AND FIND THE END USERS TO GO INTO THOSE AREAS AND START, YOU KNOW, DEVELOPING IT, THEN YOU ARE GONNA WANT THAT, WHICH IS GONNA LEAD YOU AWAY FROM THE PLANNER.
SO YOU'RE JUST GONNA HAVE TO DECIDE, YOU KNOW, AS A BOARD WHAT YOU THINK IS MORE PERTINENT, UM, FOR WHAT YOU'RE TRYING TO ACHIEVE.
WELL, I THINK THE REASON WHY WE WENT DOWN THAT, UM, HAVING 'EM SEPARATE IS SO THAT, UM, WE WEREN'T BEING, UM, GUIDED DOWN A PATH THAT REALLY WASN'T A PATH THAT WE WANTED AS A BOARD.
BECAUSE SOMETIMES IF WE HAVE, UM, A DEVELOPER AND A PLANNER ALL IN ONE, THEY MIGHT BE GEARING US IN A DIRECTION, UM, BECAUSE THEY HAVE THEIR CIRCLE OF PEOPLE AND COMPANIES THAT THEY WORK WITH.
SO WE JUST WANTED TO BE VERY SELECTIVE IN MAKING SURE THAT WE HAVE AN IDEA AND A PLAN FIRST, AND THEN CREATING LIKE A DEVELOPER.
AND IT SOUNDS LIKE THERE'S SOME COMPANIES THAT CAN PROBABLY DO THAT JUST, JUST BEAUTIFULLY.
AND SO I WAS GONNA ASK, WHAT WAS YOUR, UM, EXPERIENCE PRIOR, UM, AND KYLE WITH THAT? SO DID YOU GUYS DO IT SEPARATELY? LIKE YOU HAD A MASTER PLAN AND THEN YOU HAD A DEVELOPER, OR DID YOU HIRE A COMPANY THAT JUST DID EVERYTHING ALL ALL IN HOUSE? WELL, UM, SO KYLE IS DIFFERENT THAN HURO RIGHT? IN, IN THIS ONE REGARD.
THE CITY DID NOT OWN PROPERTY.
IT WAS PRIVATELY OWNED PROPERTY.
THE PRIVATELY OWNED PROPERTY, UM, THE BIGGEST ONE, THE BRICK AND MORTAR DISTRICT IS MO MARK, WHICH IS ONE OF THE FIRMS, RIGHT? MM-HMM.
SO MO MAR IS ONE OF THE ONES THAT CAN DO BOTH AS IS JLL AS IS MIDWAY.
I THINK RED OAK CAN TOO, BUT I DON'T KNOW SPECIFICALLY THAT RED OAK CAN.
SO I'M NOT GONNA SAY THAT THEY CAN MM-HMM.
UM, SO, SO THREE, AT LEAST THREE OF THE MASTER DEVELOPERS HAVE THE ABILITY TO FUNCTION THE PLANNING INSIDE.
SO LIKE, YOU KNOW, THEY, THEY HAVE, UM, LIKE JLL IS PROBABLY A LITTLE BIT MORE CORPORATE RIGHT.
THAN, THAN THAN THE OTHER TWO SHOPS.
UM, SO I, I GENERALLY HEAR WHAT YOU'RE SAYING.
I THINK THERE ARE SOME WHO WOULD PROBABLY NOT BE A GOOD MATCH FOR US BASED OFF OF THE FACT THAT THEY DO HAVE THOSE SET RELATIONSHIPS.
WHAT YOU, WHAT YOU WANT IS SOMEONE WHO'S LIKE, WE DO MULTIFAMILY, WE DO TOWN HOMES, WE DO, UH, MOM AND POP SHOPS, WE DO, YOU KNOW, BREWERIES, WE DO BIG BOXES.
WE BASICALLY HAVE THE ABILITY TO RECRUIT FROM EVERYWHERE.
AND SOME OF THOSE FIRMS DO DO THAT.
SO I THINK YOU HAVE THE ABILITY TO, TO FIND A REALLY GOOD MATCH IN THIS GROUP.
I'M NOT CONCERNED ABOUT Y'ALL NOT BEING ABLE TO FIND A MATCH.
I THINK YOU CAN FIND A MATCH WITH THE CANDIDATES THAT YOU HAVE AVAILABLE.
I WOULD SAY, YOU KNOW, LET'S HAVE THE BEST OF BOTH WORLDS AND THEN DIRECT STAFF TO GO PICK TWO OF THESE DEVELOPERS AND THEN SET UP SOME PRESENTATIONS.
'CAUSE WE CAN'T PICK A PLANNER FROM TWO, RIGHT? WE JUST HAVE THEM COME AND, AND GIVE A PRESENTATION, UH, RATHER THAN SITTING THROUGH FOUR PRESENTATIONS FROM DEVELOPERS.
YOU KNOW, I THINK THE INTERIM DIRECTOR HAS HEARD A LOT FROM US AND KNOWS PRETTY MUCH WHAT WE WANT, UM, IN TERMS OF HOW WE WANNA DEVELOP THIS.
SO I WOULD SAY HAVE STAFF GO BACK, PICK TWO DEVELOPERS, AND THEN SET UP SOME PRESENTATIONS.
AND I THINK WHENEVER Y'ALL GET PRESENTATIONS AND THEN YOU ALSO HEAR ABOUT THE BUSINESS SIDE, IT'LL START TO BECOME MORE CLEAR, THE REAL DIFFERENCE BETWEEN DIFFERENCE BETWEEN THE DIFFERENT PATHS, RIGHT? BECAUSE THE PATHS DO HAVE A VERY DIFFERENT FEEL BASED OFF OF WHAT THIS BOARD WANTS TO DO.
SO THIS WOULD BE MY RECOMMENDATION AS, AS WE, UH, TALK MASTER DEVELOPER
[01:35:01]
SIDE OF THINGS.SO ONE OF THE THINGS I LOOK FOR, UM, IS, UH, ARE THEY LOCAL TO THE AREA THAT I UNDERSTAND THE AUSTIN MARKET, UM, SOME OF THE PROPOSAL SIDE THINGS IN THERE THAT REFERENCED, UH, YOU KNOW, SOME HOUSTON STUFF, SOME WHETHER THERE'S SOME DALLAS ITEMS IN THERE, ET CETERA, ET CETERA.
WELL, WE REALLY WANT SOMEBODY THAT KNOWS OUR AREA THAT WAY IT'S, YOU KNOW, ABLE TO BE BEST USED VERSUS JUST WHAT COULD BECOME A COOKIE CUTTER FORMAT.
BECAUSE WHAT WORKS IN HOUSTON MAY NOT WORK HERE, VICE VERSA.
UM, MY RECOMMENDATION, UM, TO THE BOARD WOULD BE TO HAVE, UH, CSW AND MO MARK, UM, COME OUT.
THEY BOTH HAVE HISTORY WITH MIXED FAMILY.
THEY'RE ALSO FAMILIAR WITH THE AUSTIN MARKET, UH, QUITE A BIT.
UM, AND THEN, YOU KNOW, IF WE WANNA HAVE BOTH PLANNERS COME OUT ON TOP OF THAT TOO, MORE POWER TO US.
BUT THAT'S, THAT'S WHAT I SEE RIGHT NOW.
THE OTHER ONES DIDN'T REALLY HAVE A LOT IN THE AUSTIN MARKET, AND I BELIEVE THERE WAS MORE DETAIL IN, UM, THE SLIDE DECKS THAT WERE PRESENTED, UM, TO, TO CHENEY FROM THOSE TWO IN PARTICULAR DOWN TO THE SOIL.
I MEAN LIKE THAT, THAT SHOWS YOU LEVEL OF DETAIL THEY WENT TO.
UM, I, I ALWAYS GET NERVOUS WHEN WE, WE MAY LEAVE SOMEONE OUT AND SO I, I, I AGREE WITH, UH, THE CHAIR ABOUT HAVING, UH, THE FOUR COME OUT AND THOSE FOUR COMING OUT, SOMEONE WHO KNOWS HUDA, WHO'S GONNA BE INVESTED IN HU FOR 15 YEARS.
UM, I DO KNOW THE GRAVITY OF, OF THIS PROJECT AND I, AND I JUST WANNA GO ON RECORD AND SAY, I APPRECIATE THIS BOARD BECAUSE I THINK WE ALL, AGAIN BRING A DIVERSE LOOK AT THIS.
AND SO JUST HAVING THAT DIFFERENT VIEWPOINT AND YES, IT'S TAKEN US A LITTLE BIT OF TIME.
I KNOW PEOPLE ARE ANXIOUS TO GET THIS DONE, BUT I THINK THE SPORT WANTS TO GET IT RIGHT.
AND SO I THINK THE, YOU KNOW, THE CITY'S WANTING US TO GET IT RIGHT.
SO, AND I THINK IT WAS THE, THE CHAIR, I THINK IT WAS YOU THAT SAID EARLIER, MAYBE IT WAS VICE CHAIR, BUT SOMEONE UP HERE MENTIONED THAT GENERALLY THESE RF QS ARE GRADED AND THEN A, A PROPO, OH, WAS IT YOU? I'M SO SORRY.
WELL, WE SPECIFICALLY DIDN'T DO IT THAT WAY BECAUSE THE BOARD I DON'T THINK HAS DECIDED ON A PATH.
SO THEREFORE THAT'S WHAT A SCORECARD IS.
THAT'S, YOU GOT A DIRECT, AND THIS WASN'T A TRUE RFQ, IT'S MORE LIKE A REQUEST FOR INTEREST, YOU KNOW, STATEMENTS OF INTEREST BECAUSE THERE'S NOT SCORING CRITERIA.
THERE'S NOT THE THINGS THAT ARE TYPICALLY IN AN RFQ THAT ARE FORMALIZED.
AND THIS BOARD DOESN'T, YOU KNOW, AS YOUR ATTORNEY WILL TELL YOU, DOESN'T HAVE TO PROCURE THROUGH THE STATE PROCUREMENT RULES.
SO YOU'RE NOT OBLIGATED TO HAVE TO DO AN RFQ FOR SOMETHING LIKE THIS ANYWAY.
UM, BUT WE WANTED IT TO BE FAIR TO TO, BECAUSE WE DIDN'T KNOW, MAYBE THERE WOULD BE SOMEBODY WHO WAS EYEBALLING HU THAT WAS JUST LOOKING FOR AN OPPORTUNITY.
AND, AND FRANKLY I THINK THAT KIND OF HAPPENED A LITTLE BIT.
I THINK THERE WERE SOME PEOPLE WHO JUMPED ON BOARD BECAUSE WE SENT OUT THE REQUEST PUBLICLY.
SO ME PERSONALLY, I'M BIG ON BRINGING A COUPLE MORE THAN TWO.
I WOULD LOVE TO SEE AT LEAST FOUR PRESENTATIONS SO THAT WAY WE CAN SEE LIKE DIFFERENT IDEAS OUT THERE.
AND I KNOW THAT TWO I I, I'M VERY, UH, I THINK HIGHLY OF YOU AND I THINK THAT YOU DO A GREAT JOB, BUT ME PERSONALLY, JUST MAKING SURE THAT WE'RE, WE ARE HAVING AND CHOOSING FROM MULTIPLE DIFFERENT, UM, DEVELOPERS AND PLANNERS SO THAT WE'RE NOT JUST LIKE OPTION ONE A OR B.
DOES THAT MAKE SENSE? WE HAVE A COUPLE MORE OPTIONS WE CAN LOOK AT.
I MEAN, BASICALLY THE WAY I SEE IT IS YOUR FIRST OPTION IS TO INTERVIEW EVERYBODY.
YOU'VE GOT TWO PLANNERS AND FOUR MASTER DEVELOPERS, SOME OF WHICH ALSO ARE PLANNERS.
SO THEY, SO THEY KIND OF CROSS OVER, RIGHT? BUT THE ONES THAT ARE PLANNERS ARE PLANNERS.
SO YOU, SO YOU CAN INTERVIEW ALL SIX, THAT'S CERTAINLY APPROPRIATE.
AND, YOU KNOW, HAVE THEM COME AND GIVE A PRESENTATION, LEARN A BIT ABOUT THEM, KIND OF, KIND OF SEE WHAT THEY'RE ABOUT, WHAT THEY THINK IS IMPORTANT TO TELL YOU.
OPTION NUMBER TWO WOULD BE TO LOWER THIS LIST SOME, SO YOU'RE NOT DOING SIX PRESENTATIONS.
AND THAT'S BASICALLY THE ONLY TWO OPTIONS THAT I SEE, YOU KNOW, AVAILABLE FOR YOU IS INTERVIEW THEM ALL OR, OR MINIMIZE THIS LIST BECAUSE RIGHT.
YOU KNOW, WE WOULD HAVE TO MAKE A DECISION BETWEEN THE TWO PLANNERS AND, AND WE DON'T HAVE A CRITERIA BY WHICH TO MAKE A DECISION.
I, I CAN SAY, WELL, I LIKE THE WAY THAT PERSON TALKED AND SAID STUFF, SO I'M GONNA PICK THEM, YOU KNOW, BUT WE DON'T HAVE A CRITERIA, SO THERE'S NO RECOMMENDATION FROM STAFF TO MITIGATE THE LIST.
WELL, I WOULDN'T MITIGATE THE LIST OF PLANNERS BECAUSE THERE'S ONLY TWO OF THEM.
I COULD MITIGATE THE LIST OF DEVELOPERS
[01:40:01]
DOWN TO TWO MM-HMM.BUT THAT WOULD BE BASED OFF OF JUST MY EXPERIENCE AND, YOU KNOW, EXPERIENCE OF MY PEERS AND CHENEY'S EXPERIENCE AND SO ON AND SO FORTH.
SO DID YOU DISCUSS FINANCIALS AND HOW THEY WOULD TACKLE THIS PROJECT AND HOW THEY WOULD MAKE IT MM-HMM.
SO, SO THAT WAS IN THERE AND, AND, AND BASICALLY THE ANSWER IS, IT DEPENDS.
WELL,
IT DEPENDS ON HOW MUCH RISK THE, THE BOARD IS WILLING TO TAKE ON THE DEVELOPER SIDE.
'CAUSE WE'RE ONLY TALKING ABOUT DEVELOPERS WHEN WE'RE TALKING ABOUT THAT.
SO IT'S HOW MUCH RISK DO YOU WANT TO TAKE? YOU KNOW, DO YOU WANT TO BE THE ONE WHO IS TAKING THE FINANCIAL RISK OR DO YOU WANT THEM TO BE? AND THEN IF YOU WANT THEM TO BE, THEN THAT MEANS THEY GET A GREATER SHARE OF THE PROFIT THAT IS TO BE MADE.
AND THAT'S ANOTHER DIFFERENT MINDSET TOO, IS THAT THIS IS ALSO ABOUT GENERATING PROFIT, WHICH IS SOMETHING THAT IS UNIQUE TO THE EDC, RIGHT? SO IT'S NOT ABOUT BREAKING EVEN, IT'S NOT ABOUT THEM TAKING ALL THE PROFIT, IT'S ABOUT FINDING THE RIGHT PARTNERSHIP.
SO IF YOU WANT TO BE THE ONE PUTTING IN THE INFRASTRUCTURE, BUILDING THE ROADS, YOU KNOW, DOING ALL THE THINGS THAT MAKE THE LAND DEVELOPABLE, WELL THEN THAT MEANS YOU ARE ABLE AS A, AS A BOARD TO CAPTURE MORE OF THE PROFIT.
YOU'RE NOW, THERE MAY BE A, SOME OF THEM OFFER JUST THE FEE SERVICE.
IT'S LIKE, HEY, YOU JUST PAY OUR FEES AND WE JUST DO THE THING, YOU KNOW? SO, UM, OTHER ONES ARE LIKE, HEY, WE WILL NOT BUY THE LAND, BUT WE WILL FIND END USERS WHO BUY THE LAND, WHO THEN HAVE TO BUILD THE THING ACCORDING TO THE WAY THAT WE HAVE SAID IT HAS TO BE BUILT.
SO THERE ARE VARIOUS DIFFERENT OPTIONS, I THINK, ON THE TABLE.
AND, AND POSSIBLY EACH ONE OF THE MASTER DEVELOPERS MIGHT HAVE A PREFERENCE, RIGHT? THAT'S WHAT YEAH, THAT'S WHERE I WAS KIND OF POINTING AT.
AND WHICH THEY CAN PRESENT TO YOU IN THEIR PROPOSALS, YOU KNOW, IN THEIR PRESENTATIONS BASED UPON.
AND I'D LOVE TO JUST HEAR YOUR THOUGHTS ON IT.
I THINK IT'S GOING TO BE DIFFICULT TO MAKE THE ARGUMENT FOR THIS BOARD AND THE EDC TO DO ALL OF THE INVESTMENT IN MAKING THE LAND DEVELOPABLE, RIGHT? SO I THINK YOU'RE GONNA BE LOOKING FOR A MASTER DEVELOPER WHO CAN INVEST IN INFRASTRUCTURE TO MAKE THE LAND DEVELOPABLE, WHICH MEANS THERE'S LESS OF A PROFIT SHARE TO THE EDC.
AND THAT'S WHAT I SAID A MONTH AND A HALF AGO.
YOU KNOW, THERE'S A LOT OF OTHER OPTIONS FOR FINANCIAL, I MEAN, CONDUIT, FINANCIAL, TURS, PIS, I MEAN, ALL OF THOSE KIND OF THINGS WRAPPED UP IN THE 238 ACRES AS WELL.
SO WHEN, WHEN WE TALK ABOUT THE RECOVERY, I JUST WANT THE BOARD TO HAVE, YOU KNOW, FULL KNOWLEDGE THAT THERE ARE OTHER MECHANISMS LIKE WHAT WE DID IN BUTTA FOR CABELA'S.
YOU KNOW, CABELA'S CAME IN, THEY DID A BIG LARGE SUB UH, UH, SHOPPING CENTER IN, IN, UH, THERE, THEY SPENT $32 MILLION IN INFRASTRUCTURE.
UH, THEIR LOCAL GOVERNMENT CORPORATION ISSUED A BOND.
THE BOND WAS, WAS SINGLE, PURCHASED BY CABELA'S.
AND SO THE INTEREST ON THE BOND FUNDS WERE, WAS, WAS ESSENTIALLY AN INVESTMENT BY CABELA'S AT FOUR, 4% RECOVERY OF INTEREST FOR A 25 YEAR PERIOD DURING THAT PROJECT.
SO THEY PAID FOR ALL THE INFRASTRUCTURE, BUT THEY GOT FOUR, 4% FOR 25 YEARS ON ALL THAT MONEY.
SO, SO THERE ARE WAYS THAT, THAT WE CAN, UH, CREATIVELY DO THIS AND, AND, AND, AND MAKE IT A WIN-WIN FOR EVERYONE.
SO, UM, THAT JUST, UM, BUT, BUT IT'S GONNA TAKE SOME SWEAT AND TEARS AND WHATEVER ELSE OF, OF THE BOARD AND SWEAT AND TURS AND TUR.
BUT IF, BUT IF WE DO IT RIGHT, I MEAN, I THINK YOU WILL HAVE SOMETHING PROUD OF, UM, AND, AND SOMETHING THAT YOU CAN DO PHYSICALLY AND FINANCIALLY, THAT'S A WIN-WIN.
'CAUSE THAT MEANS YOU WOULDN'T HAVE TO PAY A PENNY.
SO THEY'RE WILLING TO DO THAT.
THEY, ALL THEY HAVE TO DO IS INVEST IN THEMSELVES.
YOU KNOW, I, I, I HIT THREE OR FOUR.
THERE'S, THERE'S LOTS OF OTHER OPTIONS.
AND THERE ALREADY IS A TURS OVER THE PROPERTY, RIGHT? MM-HMM,
SO THERE'S ALREADY A TAX INCREMENT REINVESTMENT ZONE OVER THE PROPERTY, WHICH MEANS THERE ARE WAYS TO HELP PAY FOR, OR, UM, MITIGATE THE COST OF SOME INFRASTRUCTURE OVER TIME, UM, THROUGH THE REINVESTMENT OF THE PROPERTY TAX FROM THE CITY BACK INTO THE PROJECT.
OKAY? SO, SO THAT'S, THAT'S ALIVE.
[01:45:01]
UH, AGREEMENT WITH THE ESD TO GET THE SALES TAX ISSUE HOPEFULLY RESOLVED.SO WE'RE MAKING PROGRESS THERE.
AND THEN YOU HAVE CERTAINLY YOUR PORTION OF, UM, SALES TAXES FROM ELSEWHERE.
SO THAT'S KIND OF WHERE WE'RE AT.
UM, I DO HAVE A QUESTION FOR THE BOARD.
'CAUSE I THOUGHT THERE WAS A DISCUSSION ABOUT HAVING, UM, THIS KIND OF SEPARATED.
SO LIKE GETTING A MASTER PLANNER AND PUTTING OUR VISION TOGETHER AND THEN GETTING A DEVELOPER.
UM, AND THE REASON WHY IS BECAUSE WE KIND OF WANTED IT SEPARATE SO THAT OUR VISION STAYS ALIVE AND THIS WHOLE PROCESS, BECAUSE IT WAS OUR CONSENSUS THAT IT MIGHT GET, WE MIGHT BE SHUFFLED IN A CERTAIN DIRECTION AND OUR VISION MIGHT NOT BE, LIKE YOU WERE SAYING EARLIER, YOU KNOW, THERE'S CERTAIN COMPANIES THAT THEY, THEY'RE GOING AFTER CERTAIN, UM, RETAILERS BECAUSE THOSE ARE THE PEOPLE THAT THEY HAVE IN THEIR POCKET.
AND WE JUST WANTED TO MAKE SURE THAT WE'RE KEEPING THE CITIZENS, UM, IN THE BACK OF OUR MINDS AND WE'RE, WHEN WE'RE CREATING LIKE THIS COMMUNITY FOR THEM, YOU KNOW? YES, MA'AM.
UM, AND SO THAT'S MY QUESTION IS ARE WE STILL TRYING TO DO THAT FIRST, LIKE CREATE A VISION FOR THE MASTER PLAN AND CREATE A MASTER PLAN AND THEN HIRE THE DEVELOPER? OR ARE WE TRYING TO NOW BUNDLE IT ALL TOGETHER AGAIN? SO, SO Y'ALL, BEFORE YOU ANSWER WHAT YOU WANT TO DO, I, I DON'T WANT TO BLOW UP THE MASTER PLANNERS.
BUT HAVING, SO YOU'RE, YOU'RE CONCERNED ABOUT MAKING SURE THAT YOU'RE NOT KIND OF PUSHED IN A DIRECTION THAT YOU AS A BOARD DON'T WANT TO END UP GOING.
THE, THE MASTER DEVELOPERS THAT HAVE PLANNING AS A BIG, SO LIKE FOR EXAMPLE, MO MARK HAS STEVEN SPEARS, HE USED TO WORK AT DESIGN WORKSHOP.
SO LIKE THAT'S ONE OF THE PLANNERS.
HE'S LIKE ONE OF THE PRINCIPALS AT DESIGN WORKSHOP AND HE'S OVER ON THE OTHER SIDE.
THEY WORK FOR YOU, NOT THE OTHER WAY AROUND.
SO THE ONES THAT HAVE THAT BANDWIDTH, YOU KNOW, MIDWAY NOW THEY'RE MORE HOUSTON, BUT THEY CERTAINLY HAVE PLANNERS IN HOUSE TOO.
SO IF YOU WANT A PARTICULAR OUTCOME, THAT'S WHAT THEY'RE GOING TO DO.
BUT THEY'RE GONNA DO IT IN A WAY THAT CAN ALSO BE REALIZED IN REALITY BECAUSE THEY UNDERSTAND THE FINANCIALS ON THE OTHER SIDE ABOUT SELLING THE LAND AND WHAT THEY CAN GET FOR IT AND WHO'S GONNA GO IN AND WHEN, AND SO ON AND SO FORTH.
WHEREAS WHEN YOU'RE ONLY DOING PLANNING, YOU'RE MISSING THAT ASPECT.
IT'S WHAT WE'RE DOING NOW MORE AND MORE ON THE CITY SIDE WHERE WE'RE PAIRING ENGINEERS WITH CONTRACTORS TOGETHER THROUGH CMAR.
SO THAT WAY IT DOESN'T GET DESIGNED.
AND THEN THE CONTRACTOR COMES AND SAYS, THIS ISN'T REALLY GONNA WORK.
SO WE HAVE TO NOW PAY TO REDESIGN STUFF.
SO I THINK YOU'LL BE PLEASED WHEN YOU DO YOUR INTERVIEWS AND YOU FIND THE ONES THAT HAVE THE PLANNING CAPABILITY INSIDE OF THEM.
NOW FOR THE RECORD, I WOULD LIKE TO SAY THAT I SAID ALL OF THIS STUFF TO ALMOST TWO MONTHS AGO, THAT'S, IT'S ON RECORD.
HE SAID ALL OF THIS TWO MONTHS AGO THAT A DEVELOPER OBJECTION, YOUR HONOR.
RELEVANCE
WHATEVER VISION YOU HAVE, YOU INSTILL IT ON THEM.
BUT THEY WANT TO COME IN AND THEY ALREADY HAVE AN IDEA OF HOW THAT LAND IS GOING OR SHOULD BE DEVELOPED BASED OFF OF COMPS IN THAT AREA.
SO PEOPLE THAT I KNOW HAVE ALREADY SAID, OH, WELL YEAH, THIS, WE, WE CAN DO THIS.
JUST LET THEM DO WHAT THEY DO.
AND IF YOU DON'T LIKE IT, THAT'S WHAT I SAID.
IF YOU DON'T LIKE IT, THEN YOU POINT OUT DIFFERENT THINGS THAT YOU WANT TO CHANGE.
'CAUSE ULTIMATELY THIS GOES INTO THEIR PORTFOLIO.
THEY'RE TRYING TO GENERATE REVENUE AND THEN A DOWN MARKET.
THEY'RE TRYING TO GET AS MUCH AS THEY CAN WITH AS MINIMAL RISK AS POSSIBLE.
BUT YOU HAVE TO LET THEM DO WHAT THEY DO BEST BECAUSE THEY DON'T LIKE WORKING WITH CITIES.
NO, IT'S, IT'S COMPLICATED FOR THEM.
AND, AND THERE WERE AT LEAST TWO OF THOSE FIRMS I THINK, THAT HADN'T WORKED WITH THE CITY BEFORE, BUT THEY CAME OUT BECAUSE IT'S HUTTO AND BECAUSE OF CHENEY.
UM, SO I THINK IN THAT REGARD, YEAH, THIS IS RATHER UNIQUE IN THE SENSE THAT THE EDC OWNS THE LAND VERSUS IT BEING A, A PRIVATE LANDOWNER AND THEY'RE NOT WORKING FOR, UH, A PENSION FUND OR SOMEONE ELSE.
YOU KNOW, THEY'RE WORKING FOR A LOCAL GOVERNMENT CORPORATION, IF YOU WILL.
SO IN, IN THAT REGARD, I THINK IT'S PRETTY EXCITING THAT WE GOT THE NAMES THAT WE GOT RESPONDING, UM, TO THE LIST.
I LIKE, I DON'T THINK YOU'LL HAVE A PROBLEM FINDING SOMEBODY THAT Y'ALL GET ALONG WITH.
UM, I HAVE A A 'CAUSE IT SOUNDS LIKE WE, WE'VE GOTTA INTERVIEW SOMEBODY, RIGHT? AND
[01:50:01]
WHAT A QUESTION FOR THE BOARD.I GUESS WHAT ARE WE EXPECTING TO SEE DURING THIS INTERVIEW, RIGHT? ARE WE EXPECTING TO SEE JUST SOME GENERIC, HEY, HERE'S WHAT WE DO AND HERE'S SOME EXAMPLES OF WHAT WE'VE DONE.
ARE WE EXPECTING TO SEE SOMETHING A LITTLE MORE TAILORED TO COTTONWOOD? LIKE WHAT, WHAT DO WE WANNA SEE OUT OF THIS? WHAT ARE WE TRYING TO GET OUTTA THIS INTERVIEW? BECAUSE, UM, IF THEY DON'T PRESENT SOMETHING THAT WE LIKE, OBVIOUSLY WE'RE NOT GOING TO PICK THEM.
BUT HOW ARE WE GOING TO KNOW THAT WE LIKE IT
SOMETHING POINT IF THEY DON'T PRESENT SOMETHING THAT IT'S A LITTLE BIT TAILORED TO GOOD POINT.
RIGHT? SO I GUESS THAT'S QUESTION FOR Y'ALL.
WHAT ARE WE EXPECTING TO, TO GET OUT OF THIS? LIKE WE HAVE TO BE ABLE TO MAKE A DECISION.
UNDER WHAT CRITERIA ARE WE JUDGING THESE PEOPLE? WELL, SO THIS IS WHERE I'M CONFUSED BECAUSE UNLESS I'M IN THE BUTTERFLY EFFECT, I RECALL TWO MONTHS AGO ALMOST WHERE WE HAD THE PROJECT THAT CHENEY HAD US WORKING ON THE ARTS PROJECT.
AND THEN WE BRING THEM IN, HAVE OUTSIDE MEETINGS, WHATEVER.
BUT IT SEEMS LIKE SOMEHOW WE'RE BACK TO SQUARE ONE AND IT'S ALMOST NOVEMBER.
AND NOW I'M CONFUSED BECAUSE I'M LIKE, WELL WE DISCUSSED THIS, NOW WE'RE BACK TO HERE.
AND I DON'T KNOW WHAT WE'RE DOING NOW BECAUSE I I I, I'M JUST COMPLETELY FLUMMOXED.
'CAUSE I'M LIKE, WELL TWO MONTHS AGO WE DID THIS TO GET TO THIS POINT.
THEN WE DID THIS TO GET TO THAT POINT.
SO WHEN I GOT THIS, I'M LIKE, NO DISRESPECT.
I'M SURE IT'S A VERY GREAT BOOK.
YOU GOT IT COVER, BUT IT'S GOT A NICE COVER, BUT I'M JUST, I DON'T WANT TO FEEL LIKE WE'RE MICROMANAGING THE MICROMANAGEMENT TO WHERE WE'RE JUST CONSTANTLY SPINNING OUR WHEELS TO JUST GET THE BASICS DONE.
LET THESE PEOPLE DO WHAT THEY DO.
WE ALL KNOW WHAT WE WANT TO SEE.
WE KNOW WHAT WE DON'T WANT TO SEE.
YOU JUST TELL THEM, HEY, WE KNOW THAT WE HAVE A PART OF THIS LAND THAT WE WANT TO DEVELOP FOR POTENTIAL MUNICIPALITIES IN THE FU WELL, MUNICIPAL BUILDINGS IN THE FUTURE.
THEY ALREADY HAVE SCHEMATICS ALREADY DRAWN UP.
THEN LET THEM SAY, HEY, THIS IS WHAT WE ALREADY GOT.
AND IF YOU SAY YOU DON'T LIKE IT, IT'S LIKE, OH, IT'S NOT AS HARD AS YOU THINK IT IS.
INSTEAD OF THAT, CAN WE PUT THAT THERE? OR WHAT'S STOPPING THIS FROM BEING THERE? THEN THEY'LL SAY, OKAY, GIVE US A WEEK AND WE'LL COME BACK TO YOU.
BUT IF WE KEEP TRYING TO GET INVOLVED IN THIS PROCESS, WE'RE NOT GONNA GET ANYWHERE.
I THINK THAT'S WHY, UH, YOU KNOW, THIS WAS, THIS WAS, I THINK THIS IS WHY THIS SHOULD HAVE BEEN, OR STILL NEEDS TO BE SOMETHING THAT'S DISCUSSED IN EXECUTIVE.
TO YOUR POINT, COUNCILMAN OR BOARD MEMBER COLEMAN, THERE'S A LOT OF THINGS OBJECTING, SIR.
ARE YOU PROJECTING, SIR? COUNCIL MEMBER? I'M FORECASTING
UM, THERE'S A LOT OF THINGS THAT WE'VE DONE.
THERE'S A LOT OF THINGS THAT WE SAID WE WERE STILL GOING TO DO.
UM, I UNDERSTAND THAT THIS, THERE'S NO LEGAL OPINION OR LEGAL COUNSEL THAT NEEDS TO BE HAD, BUT THERE WAS A LOT OF DISCUSSIONS THAT WE HAD, UM, AROUND THIS THAT WAS GOING TO HELP US UNDERST UNDERSTAND THE VISION, THE GOAL.
AND I FEEL LIKE WE ARE NOT ABLE TO TALK ABOUT THESE THINGS.
I FEEL LIKE THERE'S SO MANY THINGS LEFT UNSAID THAT I, I'M STILL A LITTLE CONFUSED AS TO WHY WE ARE TALKING ABOUT THIS OUT IN THE PUBLIC WHENEVER THERE'S NOTHING TO TALK ABOUT, BECAUSE OUR COUNSEL SAID THAT WE CAN'T TALK ABOUT IT.
AND HE'S, HIS JOB IS TO PROTECT ALL SEVEN OF US THAT SIT UP THERE ON THIS BOARD EVERY DAY.
I UNDERSTAND THAT, BUT WE'VE HAD TWO DIFFERENT CONVERSATIONS ABOUT THIS BEFOREHAND WHERE WE HAVE TALKED ABOUT THIS AND THERE'S BEEN NO OVERRULE OF, YEAH, WE CAN'T TALK ABOUT THIS.
BUT NOW ALL OF A SUDDEN WE CAN TALK ABOUT IT.
WE HAD SOME DISCUSSIONS THAT STILL NEED TO, STILL NEED ANSWERS TO, AND WE CAN'T TALK ABOUT THOSE OUT HERE.
I WOULD, I WOULD LIKE TO SEE TO HAVE THE TWO THAT WE HAVE TWO, AND THEN OUT OF THE FOUR, WE BRING IN TWO.
I'M PRETTY SURE THEY'RE LISTENING TO US RIGHT NOW.
LIKE, UH, BOARDMAN COLEMAN SAYS THEY'VE ALREADY GOT AN IDEA.
I THINK THERE'S ENOUGH ENOUGH EVIDENCE, UH, RECORDINGS OF THE CONVERSATIONS WE'VE HAD FOR THE PAST TWO MONTHS.
AND I'M, AND YOU KNOW, I'M, I'M WITH, UH, COLEMAN HERE AS FAR AS SAYING, JUST LET 'EM COME IN AND JUST SEE.
I MEAN, WE, I HAVE BEEN PART OF, UH, SELECTING COMMITTEES AND BRINGING IN
[01:55:01]
FOLKS.YOU JUST BRING THEM IN, LET THEM PRESENT THEIR, UH, THEIR VISION FOR THE PROPERTY AND, AND JUST GO FROM THERE.
'CAUSE I, I, I KIND OF FEEL LIKE, YOU KNOW, IF WE GO BACK AND WE START ALL OVER AGAIN AND WE'RE JUST, THEN IT'S GONNA BE JANUARY.
AND I KNOW THE COMMUNITY AND THE PUBLIC IS WANTING US TO MOVE.
WITH THAT SAID, WE ARE IN A DIFFICULT POSITION AS AN EDC.
'CAUSE I DON'T KNOW IF ANY OTHER, OTHER EDC HAS EVER HAD, HAS BEEN IN THIS POSITION TO OWN LAND AND HAS BEEN CHARGED WITH HAVING TO DEVELOP IT, FIGURE OUT THE VISION, ALL THAT.
UM, SO THIS IS A DIFFICULT TASK FOR THE CDC, BUT I ALSO WANT US TO MOVE FORWARD AND BRING SOME PEOPLE IN SO THAT WE CAN HAVE EVEN MORE IN DEPTH CONVERSATIONS ABOUT WHAT THAT VISION IS.
'CAUSE WE'RE JUST TALKING, YOU KNOW, LIKE, UH, BORMAN COLMAN SAYS, WE WERE TALKING ABOUT THIS AND WE DID THIS AND THE BOOK AND ALL THAT.
I, I JUST WANT TO GET IN FRONT OF SOMEONE WHO COULD HELP ME MAKE THAT DECISION.
WELL, I JUST WANT TO ADD THIS ONE LAST PIECE, 30 SECONDS.
WE ALLOW PEOPLE TO COME UP AND PRESENT TO US, ASK US FOR MONEY ALL THE TIME.
THEY'RE, THEY HAVE AN AGENDA ITEM.
WE GIVE 'EM 20 MINUTES, HOWEVER LONG THAT THEY DESIRE, NOT JUST HIGHLIGHTING THE TWO PEOPLE THAT CAME IN TODAY.
BUT NOT ONCE HAVE WE ALLOWED FOR SOMEONE TO JUST COME IN FOR MULTIMILLION DOLLAR POTENTIAL TRANSACTIONS TO JUST SAY, HEY, I'M FROM SO-AND-SO HERE'S WHAT I THINK WILL BE GREAT IN HUDDLE.
OBVIOUSLY WE CAN'T VOTE ON ANYTHING, BUT IT, IT SAYS A LOT THAT AT LEAST THEY'RE HERE.
BUT YET WE ALLOW PEOPLE TO ASK US FOR $50,000 FOR BARBECUE PROJECTS AND WHATEVER IT IS, BUT THAT MAKES US NO MONEY.
BUT HERE WE ARE SPINNING OUR WHEELS OVER MULTIMILLION DOLLAR TRANSACTIONS, BUT WE STILL HAVE NOTHING TO SHOW FOR IT AFTER MONTHS OF WORK.
WHAT DO WE GO TO ICSE FOR WHEN WE HAD ALL OF THAT STUFF THAT WE DID THERE AND HAS TO TRANSFER TO WHAT WE'RE SEEING NOW? ALRIGHT, THAT WAS ONE MINUTE.
WELL, I JUST WANNA BE MINDFUL TO, TO, TO THE BOARD THAT LET'S KEEP THE VISION.
I WOULD LIKE TO CREATE A VISION, LIKE WHAT WE THINK IS BEST FOR THE CITIZENS.
AND THEN ALSO SO THAT WE HAVE SOME TYPE OF, LIKE, SOMETHING TO LOOK FOR WHEN WE ARE EVALUATING DEVELOPERS.
AND SO, YOU KNOW, THE, WE COULD SAY, HEY, WHAT, UH, WE CAN GO TO THE DEVELOPER AND SAY, HEY, UM, WHAT DO YOU THINK WOULD BE GREAT HERE? BUT THEN ALSO WE WANNA KEEP IN MIND WHAT WE THINK IS GREAT FOR THE CITIZENS AS WELL.
UM, VISION WAS IDEALLY GONNA BE BY A PLANNER, AND THAT'S THE REASON WHY I THOUGHT THAT WE WERE GONNA KEEP IT SEPARATE SO THAT WE CAN CREATE THAT AND THEN GIVE IT TO THE DEVELOPER SO THAT WE WEREN'T LIKE SPIRIT, LIKE DRIVEN IN A CERTAIN WAY.
BUT I KNOW THAT THEY ARE ALL ENCOMPASSING AND IT SOUNDS LIKE WE DON'T WANNA, YOU KNOW, HAVE AN IDEA AND THEN NOT TO COME TO FRUITION OVER HERE, LIKE YOU WERE TA TALKING ABOUT EARLIER.
BUT AS A BOARD, IT'S IMPORTANT TO CREATE SOME TYPE OF VISION TOO.
SO, I'M GONNA LIKEN, SINCE YOU'RE IN THE CONSTRUCTION WORLD, I'M GONNA PUT IT IN THIS WAY FOR COMPARISON SAKE, BETWEEN DEVELOPERS AND PLANNERS, CONSIDER A PLANNER, NOTHING MORE THAN AN ARCHITECT.
WHEREAS A DEVELOPER, IT'S MORE DESIGN BUILD.
THEY HAVE ARCHITECTS IN-HOUSE AND THEIR ARCHITECT IS TALKING WITH THE GENERAL CONTRACTOR GOING, CAN YOU BUILD THIS OR NOT? SO WHAT HAPPENS WITH A MASTER PLANNER, THEY GO THROUGH, THEY'LL MAKE YOU PRETTY DRAWINGS, THEY'RE GONNA DO ALL THIS STUFF, AND THEN YOU'RE GONNA GO TRY AND TAKE IT SOMEWHERE ELSE AND SAY, WELL, HEY, YOU KNOW, JIM, BOB, I WANT YOU TO NOW BUILD THIS DEVELOPMENT.
THAT'S NOT THAT, THAT, YOU KNOW, TYPE BUILDING ISN'T IN MY PORTFOLIO FOR X YOU KNOW, RETAIL, WHATEVER ELSE.
REALLY, WHEN YOU'RE TALKING ABOUT THIS STUFF, MASTER DEVELOPERS, THEY'RE BRINGING THEIR, THEIR CURRENT, YOU KNOW, BOOK OF BUSINESS SLASH YOU KNOW, CONTACTS.
SO THEY'RE ABLE TO START, YOU KNOW, TURNING DIRT.
UM, THEY HAVE THE PLANNER TYPICALLY IN-HOUSE, DEPENDING ON WHAT'S GOING ON.
THERE'S IT, IT REALLY IS A ONE-STOP SHOP, BORDERLINE COMPLETE SOLUTION SAYING, I HAVE THIS PIECE OF LAND, HERE'S OVERALL WHAT WE WANNA DO WITH IT, WHICH IS TO DEVELOP RETAIL, MAKES USE ALL THAT FUN STUFF.
AND THEN THEY ARE CHARGED WITH THAT AND THEY GO OFF AND START DOING ALL THAT STUFF.
SO WHEN WE'VE REACHED OUT TO THESE DEVELOPERS, HAVE WE TOLD THEM WHAT WE'RE OUR IDEA AROUND IT AND WHAT WE'RE LOOKING FOR? SO THEY WERE ALL SENT THE EXACT SAME INFORMATION.
UM, THE ONLY DIFFERENCE WAS, OBVIOUSLY I DIDN'T ASK THE PLANNERS IF THEY, I ASKED THE DEVELOPERS IF THEY WOULD BE OPEN TO WORKING WITH AN OUTSIDE PLANNER.
I DIDN'T NEED TO ASK THE PLANNERS THAT.
UM, SO THEY WERE ALL PROVIDED THE SAME INFORMATION.
A LOT OF IT CAME OFF OF THE COMP 2040 PLAN, AS WELL AS THE, UH, PLANNING ACTIVITY THAT WE ALL DID.
AND THEN BASED ON THE CONVERSATIONS THAT WE'VE HAD, UH, BOTH PUBLICLY AND PRIVATELY, UM, SO THEY ALL HAD KIND OF THE SAME JUMPING OFF POINT.
BUT AGAIN, THIS WAS VERY HIGH LEVEL.
IT WAS JUST BASED ON, THEY, YOU GUYS WANTED TO SEE PROJECTS
[02:00:01]
THAT WERE MIXED USE, SIMILAR SIZE IN THE STATE OF TEXAS.YOU WANTED REFERENCES AND THEN KIND OF THEIR FINANCIAL STANDING, WHICH SOME OF THEM DID, DID SUBMIT LETTERS OF FINANCE, YOU KNOW, GOOD FINANCIAL STANDING FROM THEIR BANKS AND, AND OTHER FINANCIAL, UM, PARTNERS.
SO THAT'S WHAT WE BROUGHT BACK AT THIS POINT.
UM, IF YOU'D LIKE IT TO TAKE IT TO THE NEXT LEVEL, I WOULD JUST POINT OUT TO THE BOARD, THERE'S ONLY SIX TOTAL.
SO IF YOU WANT TO HAVE PRES PRESENTATIONS, WE COULD DO BACK TO BACK NIGHTS.
NO ONE FORGETS WHAT, YOU KNOW, PRESENTER A SAID VERSUS B VERSUS C.
UM, WE COULD PUT A CAP ON IT 30 MINUTES.
THAT WAY WE KNOW THAT THEY'RE, THEY'RE PUTTING, THEY'RE HITTING THE HIGHLIGHTS AND REALLY DRIVING HOME THE THINGS THAT ARE IMPORTANT TO YOU.
I'M HAPPY TO WORK WITH EVERYBODY OFFLINE TO MAKE SURE THAT WE'RE HITTING CRITERIA AND SENDING OUT THE APPROPRIATE, UM, REQUIREMENTS.
UM, UH, SO THAT WE CAN REALLY ENCAPSULATE THE THINGS THAT ARE IMPORTANT TO Y'ALL.
AND THEN ALSO HAVE AN EVALUATION PROCESS SO THAT IT'S CLEAR WHO YOU MIGHT WANT TO MOVE FORWARD WITH TO AN ACTUAL CONTRACT NEGOTIATION.
SECRETARY CLANCY, I, I JUST WANNA SAY ONE MORE THING AND BECAUSE I, I, I HEAR YOU RESTATING THE SAME, YOU KNOW, THE CONCERN AND, AND I I SHARE IT WITH YOU.
SO THE DIFFERENCE OF WHAT WE'RE TALKING ABOUT BRINGING BEFORE THE BOARD FOR Y'ALL TO CONSIDER IS SOMEONE THAT YOU'RE GONNA ENTER INTO A LONG-TERM RELATIONSHIP WITH, BASED OFF OF LIKE WHAT THEY BRING TO THE TABLE.
AND THAT INCLUDES FIGURING OUT WHAT THE VISION OF THIS BOARD OF THE CITY COUNCIL OF THE CITIZENS IS AND PULLING TOGETHER A DESIGN THAT IS EXCITING TO EVERYONE THAT CAN ALSO BE IMPLEMENTED.
WHICH IS VERY DIFFERENT THAN IF YOU SELL THE PROPERTY OUTRIGHT TO A DEVELOPER AND THEN YOU HAVE NO CONTROL OVER WHAT THEY DO.
MAYBE THEY BRING THE BUSINESS, MAYBE IT LOOKS THIS WAY OR THAT WAY, AND YOU DON'T HAVE ANY CONTROL.
SO THIS IS THIS, I DON'T THINK YOU GO WRONG, REGARDLESS OF WHAT YOU CHOOSE WITH THE PORTFOLIO PEOPLE IN FRONT OF YOU.
UM, I THINK ALL OF THEM ARE GONNA DELIVER SOMETHING THAT YOU'RE GOING TO AS A BODY, YOU KNOW, AS A CORPUS LOVE.
AND I THINK THE COMMUNITY IS GOING TO LOVE IT.
THEN IT'S A MATTER OF GETTING IT DONE.
SO, AND I THINK YOU HAVE THE RIGHT PEOPLE WHO HAVE RESPONDED TO BE ABLE TO GET TO THAT POINT TO WHERE NOW YOU HAVE SOMEONE, NOW YOU'RE IN DESIGN.
'CAUSE IT, EVEN IF YOU PICK A MASTER DEVELOPER, YOU'RE STILL GONNA BE IN DESIGN FIRST BECAUSE THE LOOK, FEEL, CONCEPT LAYOUT, UM, WHAT'S IN, WHAT'S OUT.
IS IT PARKLAND? IS IT, YOU KNOW, THIS IS IT THAT ALL THAT STUFF HAPPENS AT THE FRONT END OF THIS PROCESS.
AND THEN ONCE THEY GET THE LAYOUT DONE, THERE MAY BE SOME SLIGHT MODIFICATIONS THAT OCCUR OVER TIME, BUT YOUR FEEDBACK IS CERTAINLY A PART OF ALL OF THAT.
UM, AND THEN, YOU KNOW, TIMING THEN GOES TO, WELL, WHAT DO YOU BUILD FIRST? AND WHAT, YOU KNOW, WHAT'S WHAT, WHAT IS SYNERGY? RIGHT? WHAT THINGS HELP OTHER THINGS? AND THAT'S REALLY KIND OF THE NEXT STEP AFTER ALL THAT.
SO YOU GO FROM NOT REALLY KNOWING WHAT THE VISION IS GOING TO BE, TO HAVING KIND OF AN IDEA OF WHAT YOU THINK YOU MIGHT LIKE TO HAVING SOMETHING CONCRETE THAT IS ALSO EXECUTABLE.
AND I LIKE THE IDEA OF, UH, OF NOT BEING TOO DETAILED.
BECAUSE IF WE, YOU KNOW, WE JUST SAY, I WANT THIS, THIS, THIS, AND THIS, THEN I THINK ALL PRESENTERS ARE GONNA PRESENT WHAT WE WANT AS FAR AS THIS HAVING A VISION OR AN IDEAL.
I THINK ALL THE INFORMATION THAT THESE PRESENTERS, UH, HAVE COME TO, I WOULD, YOU KNOW, I'M HOPING THAT IF WE PICK FOUR OR SIX, I WANNA SEE SOMETHING DIFFERENT FROM EACH ONE.
AND SO, UM, THAT WAY IT GIVES US A BETTER IDEA OF WHAT, WHAT LOOKS GOOD.
AND WE MAY BE ABLE TO TAKE ALL THAT INFORMATION AND, AND MUSH IT INTO, INTO ONE THING.
BUT I JUST FEEL LIKE WE NEED TO, WE NEED TO DO SOMETHING AND, AND WE JUST MOVE FORWARD AND MAKE, GIVE A, GIVE THE STAFF DIRECTION ON WHERE WE WANT TO GO.
I'D LIKE TO MAKE A MOTION TO HAVE THE 13TH AND 14TH US HAVE PRESENTERS COME TO US, PRESENT THEIR VISION, THEIR GAME PLAN, UM, AND THEN CAP IT AT 30 MINUTES PER PRESENTER AND, UH, SEE WHAT, SEE WHAT, SEE WHAT THEY GOT, SEE WHAT, SEE WHAT'S OUT THERE.
UM, I THINK THAT AT LEAST MY OPINION, THAT'S THE MOST APPROPRIATE STEP TO TAKE SINCE WE HAVE FOUR AND TWO.
UM, YEAH, THAT WOULD JUST BE, YOU KNOW, WHAT I THINK IS THE MOST APPROPRIATE.
SO THAT WOULD BE MY MOTION TO, UM, THE 13TH AND 14TH OR WHATEVER DAYS WORK WITH, WITH THIS BOARD TO HAVE THE PRESENTERS COME CAP IT AT 30 MINUTES AND WE CAN ALL
[02:05:01]
WORK OFFLINE INDIVIDUALLY WITH CHENEY TO, TO, YOU KNOW, HIGHLIGHT WHAT WE'D LIKE TO SEE, UM, FROM EACH PRESENTER.WE HAVE A MOTION BY BOARD MEMBER THOMPSON, SECONDED BY SECRETARY CLANCY FOR THE 12TH AND 13TH OF OCTOBER TO BE FOCUSED ON, OR FROM A MEETING STANDPOINT FOCUSED ON 30 MINUTE INTERVALS FOR NOVEMBER.
NOVEMBER, UH, EXCUSE ME, DID I SAY OCTOBER? OCTOBER? YEAH.
NOVEMBER 13TH AND 14TH CHAIR, PLEASE.
I DON'T KNOW THAT WE'RE GONNA GET VERY GOOD
WELL, I, I WOULDN'T BE HERE EITHER.
CHANEY, CAN YOU JUST CONFIRM, I KNOW THAT YEAH.
I THINK YOU WERE PRETTY CONFIDENT THAT THREE OF THE FOUR WERE THE, THE PLAN OR DEVELOPERS WERE ALSO PLANNERS.
CAN YOU JUST CONFIRM THAT THE OTH OR THAT WHO IS AND WHO ISN'T MM-HMM.
RIGHT? ACTUALLY THAT WAS THE MOTION.
MY AMENDMENT WOULD BE FOR ANYBODY, FOR ANY MASTER DEVELOPER THAT DOES NOT HAVE A PLANNER IN-HOUSE OUT THEY GO.
IT SOUNDS WEIRD, BUT THE REASON WHY I WOULD RECOMMEND THAT IS THAT WAY IT'S APPLES TO APPLES AND YOU'RE LOOKING, SO THAT WAY IF YOU'RE, IF YOU HAVE EVERY MASTER DEVELOPER SITTING OUT THERE, YOU KNOW, IN THE CHAMBER, THEY ALL HAVE THE SAME SKILLSET.
IT'S NOT, OH, HEY, WELL I DON'T HAVE THAT.
YOU'RE GONNA HAVE TO GO GET THIS.
IT'S, YOU START GETTING IN THIS GRAY AREA, WISHY-WASHY LAND OF, WELL, I KIND OF HAVE IT.
I GOT, I MEAN, I'LL ACCEPT THAT.
WOULD YOU, YEAH, THAT SOUNDS GOOD.
UH, I HAVE ONE ADDITIONAL POINT BECAUSE OF COURSE, LISTENING TO TREASURER COLEMAN'S COMMENTS, YOU KNOW, I'M STARTING TO REMEMBER CONVERSATIONS WE'VE HAD PREVIOUSLY AND THEN LISTENING TO CITY MANAGER'S COMMENTS.
UM, AND MY UNDERSTANDING OF THESE TWO DIFFERENT ENTITIES IS, HAS EVOLVED VERY RAPIDLY IN THE LAST HALF HOUR.
UM, I'M, I'M NOW ASKING MYSELF, DO WE NEED TO EVEN INTERVIEW PLANNERS AT THIS POINT, OR AGAIN, KNOWING THAT A PLAN IS STILL GONNA REQUIRE A DEVELOPER TO EXECUTE? WELL, THAT'S WHY YOU SAID IN, IN-HOUSE.
BUT I'M ASKING DO THE TWO PLANNERS THAT WE HAVE ON THIS LIST, WE'RE STILL GOING TO HAVE TO HAVE A DEVELOPER AFTER THAT.
SO EVEN IF WE INTERVIEW AND PICK A PLANNER, WE'RE STILL GOING TO HAVE TO INTERVIEW AND PICK A DEVELOPER AS WELL.
WELL, I THINK THAT'S WHAT HIS MOTION WAS SAYING.
SAYING LIKE, IT, IT PUSHES OUT THOSE TWO PLANNERS.
I GUESS IF I WERE, I GUESS WHAT I'M GETTING TO IS I WOULD FURTHER AMEND YOUR MOTION TO SAY, LET'S EXCLUDE THE PLANNERS AND JUST LOOK AT THE THREE DEVELOPERS THAT HAVE IN-HOUSE PLANNING.
MY, MY AMENDMENT TO YOU WAS JUST FOR MASTER DEVELOPERS IF THEY DID NOT HAVE SOMEBODY OR A, A PLANNER IN HOUSE.
I AM IN AGREEANCE THOUGH THAT FROM THE OVERALL BIG PICTURE, YES, IF YOU HAVE A PLANNER, YOU STILL HAVE TO HAVE A DEVELOPER.
SO WHY NOT JUST START THERE AND CALL IT A DAY? I DON'T SEE THE HARM IN IT, THOUGH.
HAVING TWO DEVELOPERS COME IN, THEY OR PLANNERS COME IN AND, AND THEY MAY SAY SOMETHING THAT'S DIFFERENT THAN WHAT A DEVELOPER WOULD SAY.
AND, AND WITHOUT HAVING THE PERSPECTIVE OF IT, I KNOW THAT IT MAY COST US AN EXTRA HOUR, MAYBE IF THEY DO 30 MINUTE PRESENTATIONS OR MAYBE EVEN A LITTLE BIT LONGER THAN THAT.
TO ME, I DON'T SEE THE HARM IN ALLOWING TO PLANNERS TO COME IN AND PRESENT.
AND QUITE FRANKLY, IT GIVES US SOME EDUCATION TOO.
SO, I MEAN, WE CAN LEARN FROM THIS.
UM, AND IT, IT, I DON'T SEE A, I DON'T SEE A DIFFERENCE IN IT, BUT Y'ALL PICK MR. CHAIR.
I, I DID WANNA MAKE A DISTINCTION IS THAT THE, THE SCOPE OF YOUR CONTRACT WITH EITHER THE MAST, THE MASTER PLANNERS WHO HAVE DEVELOPMENT OR NOT, IS UP TO YOU.
AND SO IF YOU CHOSE TO ENGAGE ANY ONE OF THESE FOR PLANNING SERVICES, AND THEN YOU'VE DECIDED WHEN THAT PLANNING IS COMPLETE, THAT YOU WANT TO THEN PROMOTE THE PROPERTY AS PLANNED AND SELL THE PROPERTY OFF TO PEOPLE WHO WANT TO BUILD THE THINGS THAT YOU WANT THERE, UM, OR HAVE A MASTER DEVELOPER COULD BE A DIFFERENT DECISION FOR A DIFFERENT DAY ONCE YOU HAVE A COMPLETE, UM, IT DOESN'T HAVE TO BE, BUT I JUST WANTED TO MAKE SURE YOU KNEW YOUR LEGAL OPTIONS WITH REGARDS TO THE CON THE CONTRACT.
IS THAT BECAUSE THEY ALSO DO DEVELOPMENT DOESN'T NECESSARILY MEAN THAT YOU HAVE TO SIGN A CONTRACT TODAY THAT AUTHORIZES THEM TO BE YOUR DE DEVELOPER BEFORE YOU HAVE THE, THE, THE PLAN.
AND THEN SECONDLY, UH, JAMES, I WANT, IF, CORRECT ME IF I'M WRONG, BUT I THINK ONE OF THE ESSENTIAL THINGS THAT A DEVELOPER BRINGS TO YOU THAT A PLANNER MAY NOT NECESSARILY BRING IS FEASIBILITY.
[02:10:01]
A DOUBLE-EDGED SWORD.BECAUSE ON THE ONE HAND YOU SAY, I WANT, I REALLY WANT THIS COOL THING RIGHT HERE.
AND THE, UH, A DEVELOPER MAY LOOK AT THAT AND SAY, WELL, THE FEASIBILITY FOR VERTICAL MULTI-USE IS REALLY, REALLY LOW.
AND SO IF YOU DO THAT, YOU MAY NOT HAVE ANYONE THAT WANTS TO BUILD IT, AND IT MAY BE A, A LOSS LEADER IF THAT'S IMPORTANT TO YOU.
BUT YEAH, WE REALLY WANT THAT THERE.
BUT I DON'T KNOW THAT EVERY PLANNER ALSO HAS THE DEVELOPMENT FEASIBILITY QUOTIENT THAT IS REALLY NECESSARY TO DECIDE HOW FAST AND HOW QUICK YOU WANT THINGS BUILT.
'CAUSE ULTIMATELY, IT'S LIKELY THAT NONE OF YOU WILL BE ON THIS BOARD WHEN THE PROJECT'S FINISHED.
AND SO THERE'LL BE A WHOLE NEW SET OF DECISION MAKERS OVER THE NEXT 15 YEARS AS THIS GOES.
AND IT WILL CHANGE BECAUSE THE WORLD WILL CHANGE AND THE BOARD WILL CHANGE WITH IT.
AND HOPEFULLY THE PROJECT WILL CHANGE WITH IT IN A POSITIVE WAY.
BUT, SO, SO THOSE ARE THE OTHER CONSIDERATIONS FOR YOU ON THIS PRODUCT? MM-HMM.
AND DO YOU AGREE THE FEASIBILITY ASPECT? YES.
I THINK, I THINK THE BIGGEST ASSET TO HAVING THE MASTER DEVELOPER THAT HAS PLANNING RELATIONSHIPS ALREADY IS THAT THEY CAN MAKE SURE THAT WHATEVER GETS DREAMED UP CAN BECOME REALITY.
AND THAT IS VERY DIFFERENT THAN JUST A PLANNING SHOP BECAUSE PLANNING SHOPS THEIR IDEA PEOPLE AND THEY LOVE THE COOL IDEAS, BUT IT MAY NOT BE MARKETABLE OR FUNCTIONAL IN THE LIFESPAN THAT WE'RE HOPING FOR IT TO BE IN.
THAT DOESN'T MEAN IT CAN'T BE, IT'S JUST, IT'S A RISK THAT YOU TAKE WHENEVER YOU'RE ONLY DEALING WITH THE ARCHITECT TO DESIGN YOUR HOUSE AND NOT THE CONTRACTOR TO TELL YOU HOW MUCH IT'S GONNA COST.
SO, WELL, WITH THAT IN MIND, I WOULD LIKE, UM, BECAUSE THIS PROJECT HAS SUCH, HAS SUCH LIKE MAGNITUDE IN OUR COMMUNITY MM-HMM.
SEEMS LIKE NOT ENOUGH OPTIONS.
LIKE I WOULD LOVE FOR AT LEAST TO HAVE FIVE DEVELOPERS COME AND PRESENT TO THE BOARD.
WELL, YOU HAD FOUR THAT RESPONDED, RIGHT? SO IF YOU TALK TO ALL FOUR OF THEM, THAT WOULD BE, THAT WOULD BE THE NUMBER, BUT, OKAY.
BUT I DON'T KNOW WHAT, I DON'T KNOW WHAT ANALOGIES OF THE, RIGHT, SO YOU GOT LIKE, WELL, YOU'RE A PILOT.
YOU GOT LIKE FOUR OF THE BEST PILOTS THAT THERE ARE THAT HAVE RESPONDED FOR YOU TO PICK FROM.
SO I DON'T THINK YOU'RE, THAT'S WHY I KEEP SAYING, I DON'T THINK YOU'RE GONNA HAVE A PROBLEM FINDING SOMEONE FROM THAT GROUP.
IF THERE WAS JUST ONE SUPERSTAR IN THERE, I WOULD BE A A LITTLE CONCERNED JUST BECAUSE YOU WOULDN'T REALLY HAVE SOMEONE TO COMPARE AGAINST.
I THINK YOU'RE GONNA HAVE PLENTY OF OPPORTUNITY TO COMPARE WITH THE FOUR MASTER DEVELOPERS THAT RESPONDED.
I, I ONLY EXCLUDED RED OAK BECAUSE I DON'T PERSONALLY KNOW THAT THEY HAVE AN IN-HOUSE DESIGN TEAM, BUT I'M SURE THEY PROBABLY DO.
SO MY BACKGROUND AND FOR 10 YEARS HAVE BEEN IN CONSTRUCTION.
AND SO I WAS A PROJECT ACCOUNTING MANAGER.
AND SO THAT'S KIND OF WHERE MY, AND I'VE WORKED VERY, VERY CLOSELY WITH PROJECT MANAGERS.
IT GOES THROUGH A PLATFORM AND USUALLY IT GOES TO A BID.
AND THEN THERE'S THIS WHOLE BIDDING PROCESS.
SO TO ME, THIS IS A HUGE PROJECT AND WE HAVEN'T DONE THIS BIDDING PROCESS.
AND SO JUST TO MAKE SURE THAT THIS BOARD IS DOING DUE DILIGENCE AND FOR THE COMMUNITY IN THE FUTURE, I'D JUST LIKE TO SEE SOME OPTIONS WITH, WITH ALL DUE RESPECT, WE DIRECTED CHENEY TO DO THE DUE DILIGENCE.
SHE CONTACTED THE PEOPLE THAT SHE WAS ABLE TO CONTACT THAT RESPONDED, SHE PROVIDED THAT INFORMATION TO US TO, YOU KNOW, JAMES OR JAMES'S POINT RATHER, IS THESE GUYS ARE ROCK STARS.
LIKE, I MEAN, AND, AND SOME OF THESE GUYS ARE, HAVE BUILDINGS THAT WE'VE BEEN IN, IN THE AUSTIN MARKET.
ALL OF US, I MEAN ALL OF US HAVE BEEN TO THE DOMAIN.
SO WE'VE SEEN THEIR BOOK OF BUSINESS AND WE HAVE SEEN WHAT VALUE THEY CAN BRING TO A COMMUNITY.
SO I GET, WE WANNA LOOK AT, YOU KNOW, ALL THESE DIFFERENT OPTIONS.
BUT I ALSO WANNA CAUTION, I THINK WE'RE BORDERLINE PUSHING PARALYSIS BY ANALYSIS BECAUSE WE'RE GOING WELL, BUT THIS ONE AND THIS ONE AND THIS ONE, I'M GONNA BE BRUTALLY HONEST, HERE'S WHAT I CARE ABOUT THE MOST OUT OF ANY OF 'EM, WHICH IS CAN YOU ACTUALLY TAKE SOMETHING VERTICAL? BECAUSE THE CREDIT MARKET RIGHT NOW OBVIOUSLY IS, IS VERY TIGHT WITH EVERYTHING THAT'S GOING ON IN THE WORLD WITH, YOU KNOW, THE ECONOMY, INFLATION, YADA YADA, YADA.
WELL THERE'S A LOT OF ENTITIES THAT WON'T LEND MONEY OUT NOW.
AND YOU KNOW, ONE OF THE, UM, AND CASE IN POINT, THERE'S ONE ON THERE THAT, YOU KNOW, IT'S LIKE, HEY, HERE'S THE LIST OF CREDITORS WE HAVE.
AND IT WAS LIKE 20 DIFFERENT PEOPLE.
THERE'S ONES IN THERE THAT SAY, WE FUND EVERYTHING ON OUR OWN.
THE MORE YOU CAN DO THAT, YOU ELIMINATE A BANK OUT OF THE EQUATION WHERE YOU JUST GOT CASH IN HAND, YOU CAN DO WHATEVER YOU WANT.
[02:15:01]
THE EASIER IT'S GOING TO BE FOR US TO ACTUALLY TAKE THAT FROM RAW DIRT AND ACTUALLY HAVE SOMETHING ON THERE THAT A CITIZEN IN HATO OR SOMEBODY ON THIS BOARD, SINCE WE ALL HAPPEN TO BE ONE AS WELL, UM, WOULD ACTUALLY ENJOY AND WANT TO GO TO.BUT THE MORE THAT WE JUST KIND OF KICK THE CAN DOWN THE ROAD, THE LONGER IT'S GONNA TAKE.
AND WE STILL HAVE THAT A HUNDRED PLUS THOUSAND DOLLARS COPAYMENT.
I'M NOT ASKING TO KICK THE CAN DOWN THE ROAD.
I'M JUST ASKING THAT ALL FOUR PRESENT.
AND MAYBE IF THERE'S A FIFTH, I'M NOT.
AND I THINK THAT WHAT YOU'VE BROUGHT TO THE TABLE, THEY'RE, THEY ARE ROCK STARS.
AND I DO KNOW THAT THEY'VE DONE REALLY GOOD WORK.
AND ONE OF THE COMPANIES THAT I'VE ACTUALLY WORKED WITH, SO I WORKED WITH, IT'S NOT THAT, IT'S NOT THAT THEY HAVEN'T PROVIDED LIKE GREAT PEOPLE, I'M JUST SAYING THAT THIS IS GONNA BE A HUGE DEVELOPMENT AND IT'S GONNA, YOU KNOW, BE A PART OF OUR TAXPAYERS IN THE FUTURE.
SO WE JUST WANNA BE MAKING SURE THAT WE'RE DOING OUR DUE DILIGENCE AS A BOARD BRINGING THE BEST OPTIONS POSSIBLE.
AND IT SOUNDS LIKE YOU ARE, I JUST WANT ALL OF THEM.
I, I THINK THE MOST IMPORTANT PART, AND WE'RE, UM, IS WE HAVE A FIDUCIARY RESPONSIBILITY.
I KNOW THAT I, I KNOW I SAY THAT AT LEAST TWICE A MONTH UP HERE, BUT WE HAVE A FIDUCIARY RESPONSIBILITY TO PICK THE BEST OPTION FOR THE CITY.
NOW THAT I'M EXCLUDING AESTHETICS, I'M EXCLUDING TENANTS, I'M ALL OF IT.
WHY? BECAUSE IF YOU LOOK AT THE DOCUMENTS, ONE ONE IN PARTICULAR, HEY, WELL, WE'LL GIVE YOU HALF OF WHATEVER IT IS ABOVE TWO BUCKS A FOOT.
THAT WAS ONE OF 'EM, YOU KNOW, BUT THERE'S, WHEN YOU GET IN THE MASTER DEVELOPMENT PIECE, THEY WANNA BUY THE LAND AND THEY WANNA DO IT ALL ON THEIR OWN.
OR THE OTHER OPTION IS SOME SORT OF, YOU KNOW, JOINT VENTURE SCENARIO THAT THEY GO, HEY, YOU'RE GONNA START TO ASSUME A LOT MORE RISK, BUT HEY, WE MIGHT GIVE YOU A COUPLE MORE BUCKS.
BUT REALLY AND TRULY, IF YOU CAN'T TAKE IT VERTICAL, I MEAN THAT, THAT'S CORE ITEM NUMBER ONE.
BECAUSE OTHERWISE THERE IS NO TAX BASE.
I WOULD, IT'S A PRETTY PICTURE.
I CAN MAKE A, I I'D MAKE THAT AMENDMENT TO THE MOTION TO, IF THERE IS A FIFTH THAT WE CAN FIND, UM, TO HAVE THEM PRESENT ON THE 13TH AND 14TH.
BUT ROLLING WITH THE FOUR THAT WE CURRENTLY HAVE, I DON'T THINK THERE'S A PROBLEM, UH, YOU KNOW, LEAVING IT OPEN IF THERE'S THE POSSIBILITY THAT SOMEBODY COMES UP.
BUT IF NOT, I'D BE, I, I WOULD WANT TO STILL KEEP THE 13TH AND 14TH WITH THE FOLKS THAT WE DO HAVE.
SO YOU'RE TALKING ABOUT AMEND, UH, AMEND AND YOUR AMENDMENT, REMOVING PLANNERS IN THIS AND JUST DOING DEVELOPERS AND PLANNERS OR, I, I, SO I WOULD SAY THE 13TH AND 14TH, 30 MINUTE PRESENTATIONS ON THEIR VISION, THEIR GOALS FOR THE PROPERTY.
UM, AND JUST HAVE IT FOR, FOR DEVELOPERS THAT HAVE PLANNERS IN-HOUSE.
'CAUSE I DO SEE THE VALUE IN HAVING THAT AS A PACKAGE DEAL VERSUS, UM, YOU KNOW, TO STEAL YOUR PHRASE, UH, A CITY MANAGER TO HAVE SOMEBODY THAT HAS A LOT OF IDEAS.
UM, SO I, I WOULD MASTER DEVELOPER WITH A PLANNER, UM, AND THEN LEAVING IT OPEN TO MORE MASTER DEVELOPERS WITH PLANNERS IF WE CAN GET THEM BEFORE THE 13TH AND 14TH.
UH, CHAIRMAN, JUST A POINT OF ORDER.
I BELIEVE BEFORE THE DISCUSSION VEERED OFF, UH, BOARD MEMBER OF MINTON HAD MADE A MOTION TO EXCLUDE PLANNERS WITHOUT DEVELOPERS.
WHICH, THAT'S
SO, SO TO REHASH, WE'RE GONNA INTERVIEW THE FOUR MASTER DEVELOPERS THAT HAVE PLANNERS.
BUT THEN THERE'S, BUT THEN OPEN, WE'RE EXCLUDING THE TWO PLANNERS.
BUT THEN LEAVING IT OPEN FOR A FIFTH IF OTHER MASTER DEVELOPERS SHOULD COME IN THE DOOR.
SO JUST TO REHASH THIS, THAT WAY EVERYBODY'S CLEAR AND IT'S RECORDED.
SO WE ARE SETTING ASIDE THE 13TH AND 14TH OF NOVEMBER FOR 30 MINUTE INTERVIEWS WITH THE FOUR DEVELOPERS, MASTER DEVELOPERS AS PRESENTED IF THEY HAVE AN IN-HOUSE PLANNER.
WE ARE NOT INTERVIEWING THE PLANNERS THAT WERE PRESENTED.
AND IF THERE IS A FIFTH OR WHATEVER QUANTI UP TO FIVE, THAT WILL BE CONDUCTED, UH, ON EITHER ONE OF THOSE DAYS.
DO WE A SECOND? NO, WE HAVE, UH, THAT'S EVERYBODY ACCEPTING OF THE AMENDMENTS.
SO WE HAVE MOTION BY A BOARD MEMBER THOMPSON AND THEN SECOND IN SECOND IN BY SECRETARY CLANCY.
ROLL CALL BOARD MEMBER MINTON AYE.
[02:20:01]
BOARD MEMBER THOMPSON AYE.SEVEN OH EASY WITH THE CAVO BUDDY.
WHAT AS A PROCEDURAL MATTER, UM, THE OPEN MEETINGS ACT ALLOWS THE BOARD TO RECESS.
ITS MEETING FOR UP TO 24 HOURS.
AND SO WE'LL BE ABLE TO POST ONE AGENDA FOR BOTH DAYS.
AND SO YOU'LL ONLY HAVE ONE AGENDA, ONE SET OF MINUTES, NOT NOT TWO MEETINGS.
AND THAT WAY YOU CAN ALSO PICK HOW FAR YOU GET DOWN TO RESIST TO RECESS.
YOU ONLY HAVE ONE? YEAH, WE STILL HAVE TWO MEETINGS.
JUST DON'T YOU FEEL GOOD ABOUT ONE MEETING, BUT IT'S REALLY TWO WE
WITH THAT THE BOARD 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 ECONOMIC DEVELOPMENT AND 5 5 1 0 7 2 REAL PROPERTY DELIBERATE AND SEEK LEGAL ADVICE REGARDING RETAIL AND RESTAURANT
MEGASITE PROJECT, PROJECT SKYBOX PROJECT EQUAL PROJECT MARGARITA PROJECT DC TWO PROJECT PRIME PROJECT TITAN PROJECT STRAT THREE PROJECT FLEX THE COTTONWOOD PROPERTIES PROJECT CG TWO PROJECT WELCOME MAT AND THE EVALUATION OF AVAILABLE CORPORATE FUNDS FOR INCENTIVES.
READY WHEN YOU ARE MR. CHAIR? ALRIGHT, THE TIME IS 10 38 AND WE HAVE RETURNED FROM EXECUTIVE SESSION.
ITEM ITEMS 9 1 9 2 AND NINE THREE HAVE NO ACTION ON THEM AT THIS TIME.
UH, SO WITH THAT WE'LL MOVE TO ITEM NINE FOUR, DISCUSS AND CONSIDER ACTION REGARDING AN AMENDMENT TO THE FUNDING AND REFUNDING AGREEMENT WITH WILLIAMSON COUNTY FOR THE CONSTRUCTION OF THE RIGHT TURN LANE FROM 33 49 TO THE SPINE ROAD AT THE MEGASITE, WE HAD THIS ONE.
AND LEGAL DID YOU WANNA ADVISE? THIS WOULD BE APPROVAL BY RESOLUTION 'CAUSE I DO HAVE THE RESOLUTION 2 84.
SO BECAUSE THIS IS A, A MODIFICATION TO A FUNDING AGREEMENT, WE, WE'VE PREPARED A RESOLUTION TO DOCUMENT THE, THE, UH, MODIFICATION.
AND SO HERE WE WOULD NEED A MOTION TO APPROVE A RESOLUTION AND THEN IDENTIFYING THE AMOUNT OF FUNDS, UM, THAT WOULD BE APPROPRIATE TO THE, UH, SPLIT.
WHO'S GONNA TAKE THIS ONE? YOU CAN WRITE IT DOWN.
Y'ALL DON'T LIKE IT WHEN I DON'T WRITE UP THE MOTION
I WILL MAKE A MOTION TO APPROVE THE RESOLUTION AS PRESENTED AND THEN AT THE EDC WOULD CONTRIBUTE HALF OF THE COST, WHICH IS APPROXIMATELY $30,000.
WHO ARE YOU, SIR? FOR THE RECORD, CAN YOU SECOND CHAIR CARLSON? HANG ON.
DISCUSS AND CONSIDER ACTION ON ANY OTHER ITEM DISCUSSED IN EXECUTIVE SESSION.
MR. CHAIRMAN, I MAKE A MOTION THAT WE RECALL THE MEGASITE PROJECT IN ORDER TO CONSIDER OR IN ORDER TO CONSIDER RECALL THE MEGASITE PROJECT IN ORDER TO CONSIDER THE WHOLE THING.
IN ORDER TO CONSIDER WHAT APPROVAL OF THE NON, I THOUGHT I HAD TO DO A MOTION TO GET IT UP AND THEN MAKE THAT SECOND YOU'LL, BUT THAT'S THE PURPOSE.
SO YOU WANT ME TO READ THE WHOLE THING, THE PURPOSE OF WHY YOU'RE RECALLING IT? YES, SIR.
SO I'D LIKE TO MAKE A MOTION TO RECALL THE MEGASITE PROJECT IN ORDER, UH, TO CONSIDER APPROVAL OF A NON-DISCLOSURE AGREEMENT BETWEEN THE CORPORATION AND A PROSPECTIVE PURCHASER IN A FORM APPROVED BY CORPORATE COUNSEL.
AND AUTHORIZE THE CHAIR TO EXECUTE THE AGREEMENT.
WE HAVE A MOTION BY VICE CHAIR LUCAS, SECONDED BY BOARD MEMBER THOMPSON TO RECALL THAT ITEM.
ROLL CALL BOARD MEMBER THOMPSON AYE.
[02:25:02]
WHAT? OKAY.I MAKE A MOTION FOR THE APPROVAL OF THE NON-DISCLOSURE AGREEMENT BETWEEN THE CORPORATION AND THE PROSPECTIVE PURCHASER IN THE FORM APPROVED BY COUNSEL AND AUTHORIZE THE CHAIR TO EXECUTE THE AGREEMENT.
WE HAVE A MOTION BY VICE CHAIR LUCAS, SECONDED BY IT'S LATE MINTON.
ROLL CALL BOARD MEMBER OWENS AYE.
HAVE A NO OTHER ITEM OR EXCUSE ME.
ITEM 10, FUTURE AGENDA ITEMS. ANYTHING THAT ANYBODY ON THIS BOARD NEEDS TO ADD FOR UPCOMING MEETINGS? NOT THE 13TH AND 14TH
AND WITH NO OTHER ITEMS ON THE AGENDA, WE ARE ADJOURNED AT 10 43.