[00:00:01]
STEVEN, THEY CAN DISCUSS, THEY CAN'T DO ANY
[1. CALL SESSION TO ORDER ]
SIX O'CLOCK CALLED THE SPECIAL CALL JOINT MEETING AT THE HU OF CITY COUNCIL AND THE HEAD OF ECONOMIC DEVELOPMENT CORPORATION TYPE A AND TYPE B BOARD OF DIRECTORS FOR THURSDAY.IS THAT OKAY THAT THERE'S ONLY THEY? YEAH, THEY CAN DISCUSS, BUT THEY CAN'T GIVE ANY SORT OF ACTION.
FOR THURSDAY, JUNE 20TH, 2024 TO ORDER, START WITH ROLL CALL FOR THE CITY SIDE.
COUNCILOR LAR HERE TO THE EDC.
SEAN LUCAS, VICE CHAIRMAN IS ALSO HERE.
BRIAN THOMPSON IS ABSENT AND TERRENCE OWENS IS ALSO ABSENT.
ALLEGIANCE ON HERE, BUT THERE'S
ANYBODY FROM THE PUBLIC HERE? OKAY.
OTHERWISE DON'T SAY ANOTHER WORD.
[5.1. Discuss and consider action regarding the repayment plan of debts owed to the City of Hutto by the Hutto Economic Development Corporation (HEDC). ]
THEN DISCUSS AND CONSIDER ACTION REGARDING THE REPAYMENT PLAN OF DEBTS OWED TO THE CITY OF HUDA BY THE HU ECONOMIC ECONOMIC CORPORATIONS.UH, SO BRIEFLY, THE PURPOSE OF THE MEETING IS TO DISCUSS VARIOUS EXPENSES ASSOCIATED WITH HEDC LAND AND AGREE ON A REPAYMENT PRIORITY AND SCHEDULE.
SO THE REQUESTED ACTION AT THE END OF THIS MEETING, ASSUMING THE BOARD IS ABLE TO ENGAGE IN ACTION, UH, IS TO DIRECT STAFF AND LEGAL COUNSEL TO DRAFT THAT REPAYMENT AGREEMENT PER THE TERMS THAT Y'ALL AGREE ON TONIGHT.
UH, FOR CONSIDERATION AT YOUR JULY MEETINGS FOR THE EDC, THAT WOULD BE JULY 8TH AND FOR COUNSEL, THAT WOULD EITHER BE THE 1130 18TH.
I KNOW WE TYPICALLY DON'T LIKE TO PUT THINGS ON THE SAME WEEK FOR CONCURRENT APPROVAL.
SO I'VE PUT THE 18TH ON THERE AS A POSSIBILITY AS WELL.
SO, UM, JUST TO BE VERY CLEAR, THE EVC BOARD IS REQUIRED TO REPAY THEIR $15 MILLION ALLIANCE BANK LOAN PRIOR TO ANY OTHER DEBTS BEING REPAID.
SO I JUST FOR THE RECORD, WANT TO PUT THAT ON RECORD THAT EVERYONE IS IN AGREEMENT ON THAT AND WE UNDERSTAND THAT THAT IS PRIORITY ONE, UH, AS WE'RE CONTRACTUALLY OBLIGATED.
OH, LET ME SCOOCH TO THE NEXT ONE.
SO I SENT THIS OUT TO, UH, THE BOARD AND COUNCIL.
THIS IS THE LIST OF BOTH THE EDC EXPENSES THAT THEY'RE CURRENTLY INCURRING RELATED TO, UM, THEIR DEVELOPMENTS AND THEN ALSO THE CITY EXPENSES AS WE HAVE RECORD OF THEM FOR THE VARIOUS ITEMS RELATED TO, UH, THE SPINE ROAD PROJECT THAT THEY HAVE GOING ON AT THE MEGA SITE, AS WELL AS RELATED EXPENSES, UH, FOR THE COTTONWOOD PROPERTIES AND THAT ACQUISITION.
SO THE TOTALS ARE THERE AND THE BREAKOUTS OF EACH ITEM ARE LISTED.
SO CONSIDER A WAY, RIGHT? SO ON THE COUNCIL SIDE, WE CAN'T DISCUSS UNTIL WE MAKE A MOTION PART OF OUR PROTOCOLS.
SO I MAKE A MOTION TO MAKE THE DEBTS BE EVEN UP BETWEEN THE HUD OF EDC AND THE CITY COUNCIL AND NO MONEY OWED TO EITHER SIDE.
I CAN'T DISCUSS IT UNLESS THERE'S A SECOND.
FOR MY MOTION IS, IN MY OPINION, THE EDC AND THE CITY HAVE THE SAME GOAL IN TERMS OF, UM, ECONOMIC DEVELOPMENT FOR THE CITY OF PATO.
IF THEY HAVE EXTRA MONEY, INFRASTRUCTURE, UH, WATER, WASTEWATER, BRIDGES, ROADS, PARKS, UM, WHETHER THEY PAY $40 MILLION BACK OR THEY DON'T PAY $40 MILLION BACK, IF THEY PAY IT BACK, WE'RE USING THE MONEY FOR ROADS.
IF THEY DON'T PAY IT BACK AND THEY COME ACROSS $40 MILLION, WE CAN ASK THEM TO DO THE SAME THINGS WE WOULD'VE DONE WITH THE $40 MILLION.
ALL THIS OWING EVERYBODY BACK AND FORTH SINCE THEY'RE A SUBSIDIARY, IN MY MIND OF THE CITY, IS NO DIFFERENT THAN YOUR WIFE TAKING A HUNDRED DOLLARS OUTTA YOUR WALLET OR HUSBAND TAKING A HUNDRED DOLLARS OUT OF YOUR PURSE AND THEN COMING BACK AND DEMANDING THEY PAY BACK A HUNDRED DOLLARS AND YOU HAVE A JOINT CHECKING ACCOUNT.
AND OBVIOUSLY, UM, UM, UH, OVERSIMPLIFYING BECAUSE YOU HAVE DIFFERENT ACCOUNTS, BUT WE APPROVE THEIR BUDGET, WE APPROVE EVERY EXPENDITURE.
UM, WE CAN AT ANY POINT IN TIME REMOVE ANYBODY ON OUR BOARD.
WE CAN PUT UP TO, I THINK FOUR COUNCIL MEMBERS ON THEIR BOARD, 3, 3, 3.
UM, BUT WE CAN ALSO REDO YOUR BYLAWS.
PAC B ACTUALLY LIMITS YOU FOR NO, WHATEVER, THREE.
UH, MY POINT IS WE'RE MARRIED AND ALL THIS OWING MONEY BACK AND FORTH.
[00:05:01]
ON DEBT BECAUSE OF THE CITY, UM, DIDN'T WANNA LET A PIECE OF PROPERTY GO THAT HAD A GREAT VALUE TO THE CITY.AND SO TO ME, UM, WHEN I JUST SPEND OUR TIME ON HOW DO WE DEVELOP COTTONWOOD PROPERTY SINCE THIS COST US $3,000 A DAY, A HUNDRED THOUSAND A MONTH, AND NOT SPEND OUR TIME ON, HEY, WHEN ARE YOU GONNA GIVE US $150,000 AND SEVEN OR 157, 100 50,000, SEVEN $58.
SO THAT'S WHY I MADE THE MOTION.
BUT THEN MY REQUEST THEN FOR YOU, FOR OTHERS THAT HAVE DONE THINGS LIKE THIS, THEN BRINGING UP THIS INTEREST THING.
IF YOU'RE LETTING THEM BE A CORPORATION THAT IS FUNDING THAT WITH THEIR OWN BUDGET AND STUFF, NOT THROWING UP AS AN ISSUE AND THAT YOU NEED TO FORCE MORE.
IT SEEMS LIKE YOU WANNA MAKE IT EVEN, BUT THEN SAY, BUT NOW I WANNA HAVE TOTAL CONTROL BECAUSE WE FORGAVE YOUR DEBT.
SO NOW WE WANT TO DICTATE A HUNDRED PERCENT TO THE EDC.
SO I JUST WANNA MAKE SURE THAT MY ANTICIPATION, EVEN IF WE, WE SAY HUSBAND AND WIFE, IT'S AN EVIL PARTNERSHIP.
I DON'T COME IN THERE AND THEN JUST BULLDOZE OVER YOU AND WELL, WE, WE DID FORGET THAT DEBT THING, SO WE GOTTA TELL YOU WHAT TO DO A HUNDRED PERCENT, WHICH IS KIND OF WHERE YOU ARE KIND OF GOING.
AND I JUST WANTED TO MAKE SURE THAT THAT'S NOT WHAT'S BEING DONE HERE.
SORRY, I GAVE YOU THE, I'M SORRY.
NO, I'M, I'M JUST SAYING THE QUESTION.
I GAVE THE IMPRESSION TO BULLDOZE.
UM, THE WHOLE REASON WIPING IT OUT IN MY MIND IS BECAUSE WE'RE DOING IT TOGETHER.
UM, I HAVEN'T, ONCE YOU CORRECT ME IF I'M WRONG, IN THE PAST SIX MONTHS SAID WE LOANED YOU $6 MILLION, NOW GO VOTE A CERTAIN WAY OR WE LOANED YOU $6 MILLION.
AND TO ME NOW'S THAT WOULD'VE BEEN THE TIME TO DO IT.
'CAUSE YOU GUYS HAD SOME STUFF YOU VOTED FOR THAT I WOULDN'T HAVE, BUT I DIDN'T.
SO ANYWAY, SORRY COUNCILOR CLARK.
SO FOR ME, UM, OBVIOUSLY I TOTALLY UNDERSTAND HAVING TO PAY THE 15 MILLION PRIOR TO ANYTHING ELSE BEING PAID BACK TO THE CITY.
SO OBVIOUSLY THAT'S LIKE A HARD, YOU KNOW, WRITTEN IN THE LANGUAGE.
BUT FOR ME, I GUESS GETTING TOGETHER WITH EVERYBODY WAS JUST TO PUT THIS DOWN IN A CONTRACT OR IN ON A PIECE OF PAPER BECAUSE THIS IS ALL OF THIS, ALL OF THIS HAS HAPPENED, LIKE DIFFERENT MOMENTS IN TIME AND YOU, I JUST DIDN'T WANT IT TO GET LOST, I GUESS, EVEN THOUGH YOU CAN GO BACK AND, YOU KNOW, WATCH TAPE AND EVERYTHING.
BUT I JUST WANTED IT TO BE ON PAPER.
BUT, UM, AS FAR AS REPAYMENT, UM, I AGREE WITH THE MAYOR.
LIKE WE HAVE THE SAME GOALS OF ECONOMIC DEVELOPMENT AND, AND BENEFITING THE CITY.
UM, FOR ME, THE, UM, THE CITY LOAN, THE 6 MILLION AND THE BUTLER SETTLEMENT OF 5 MILLION AND THE LEGAL FEES ARE ABSOLUTE PRIORITY.
UH, BECAUSE THOSE CAN GO TO OUR FUND BALANCE BECAUSE I THINK THAT MONEY WAS TAKEN FROM OUR FUND BALANCE, JUST CASH ON HAND.
UM, SO I WOULD LIKE THAT TO BE PAID FIRST.
THE SPINE ROAD AND ALL THE BOND ISSUED LIKE UTILITIES AND ACTUAL ROAD, THAT'S ALL SOMETHING THAT CAN BE REPAID BECAUSE WHEN REVENUE GETS GEN GENERATED FROM THE BUSINESSES THAT ARE OPERATING, THE CITY'S GONNA BENEFIT FROM THAT, RIGHT? FIRST THE TERMS BE
THAT'S JUST KIND OF WHERE I'M AT.
SO THERE'S A COUPLE DIFFERENT THINGS.
SO, AND, AND I KNOW THAT THERE WAS A LOT OF FLUIDITY WITH SOME OF THIS RANGING FROM, YOU KNOW, TURS TO ANY COUNTLESS NUMBER OTHER, YOU KNOW, FINANCING VEHICLES THAT THE CITY CAN USE ON A DAY-TO-DAY BASIS.
SO WE'VE HEARD THINGS FROM FINANCE SAYING THAT, AND CHENEY, CORRECT ME IF I'M WRONG, WAS IT THE ROAD OR WAS IT UH, UH, UTILITIES THAT SHOULD BE GOING TO THE TURFS? UH, IT WAS THE BOND.
SO THAT WE'VE HEARD, YOU KNOW, FROM FINANCING, THIS MIGHT NEED TO BE TURFS, SO THAT SHOULD COME OFF THE LIST BECAUSE THEN TURFS WOULD ASSUME THAT DEBT, MY UNDERSTANDING, SO, AND WE'RE INCLUDING THAT NUMBER INSIDE OF THIS RIGHT NOW, WE'RE LIKE, HEY, WELL LET'S JUST SPLIT IT DOWN THE MIDDLE.
AND I THINK THAT THERE'S, YOU KNOW, I THINK THAT'S POTENTIALLY AMICABLE FOR THE EDC.
I CAN'T, YOU KNOW, SPEAK TO THAT IN FULL BECAUSE THEY HAVE THEIR OWN VOICE.
UM, BUT THINGS LIKE LEGAL FEES HARD, NO.
HERE'S WHY WE DIDN'T KNOW THAT.
AND YOU, WE CAN'T SAY, OH, WELL YOU, YOU BOUGHT THIS AND YOU HAVE NOW BOUGHT WHATEVER IT WAS.
BECAUSE IF THAT WAS THE CASE, I DON'T THINK THE EEC WOULD'VE BOUGHT OR WOULD'VE AGREED TO EVEN BUY IT BECAUSE IT'S, IT'S LIKE A, IT'S LIKE A GOTCHA.
IT'S LIKE, OH HEY, BY THE WAY YOU BOUGHT THIS LAND, THANKS FOR HELPING US OUT, BUT HERE'S THIS, HERE'S THIS, HERE'S THIS, HERE'S THIS.
I KNOW THAT'S NOT FULLY HOW IT IS BEING PRESENTED, BUT THAT WAS A COST TIED TO THE COTTONWOOD DEVELOPMENT CORPORATION THAT HAS NO INVOLVEMENT WITH UDC.
IF YOU PAY BACK TO THE CITY, IF ANYTHING, PAY BACK THE COTTONWOOD DEVELOPMENT CORPORATION BECAUSE THE CITY'S NOT THE ONE THAT SPENT THE MONEY, BUT TECHNICALLY THEY DAY THINK THAT IS NEGATIVE.
AT THE END OF THE DAY, IT ALL WASHES OUT, SO WHOEVER PAYS IT.
BUT YOU'RE RIGHT, IT SAID THAT'S COTTON WITH IT OWED.
I MEAN IF, IF, IF, YOU KNOW, LEGAL FEES
[00:10:01]
IS NOT A NEGOTIABLE.DEFINITELY, YOU KNOW, THE CITY LOAN AND THE BUTLER SETTLEMENT JUST FROM OUR FUND BALANCE, JUST SO WE CAN KIND OF BEEF THAT UP AND BACK AGAIN BECAUSE RIGHT NOW I THINK WE'RE SITTING JUST AT WHERE WE SHOULD BE.
SO, AND THESE TOTAL NUMBERS, SO WE WERE FORTUNATE TO HAVE THE MONEY BUT UH, ADD THE, THE 40 MIL AND THE 1617 MIL, JUST FOR ROUND NUMBER SAKE ADDS UP TO ABOUT 52 50 3 MILLION BUCKS.
SO IF IT'S BEING SPLIT RIGHT DOWN THE MIDDLE, THAT WOULD BE ADDING APPROXIMATELY $12 MILLION WORTH OF DEBT.
OR, OR, OR THAT WILL BE TIED TO THE EDC, WHICH GUESS WHAT? BUTLER LOAN? FIVE MIL CITY LOAN SIX MIL.
YEAH, IT'S THAT YOU'RE NOT FAR OFF FIVE SIX.
WELL I UNDERSTAND THE BUTLER LOAN BECAUSE AGAIN, YOU GUYS BOUGHT THAT AND THAT WAS, THAT WAS $5 MILLION THE CITY BENEFITED FROM AND ALREADY TOOK MONEY.
SO YOU BOUGHT THE LAND, WE'VE ALREADY SPENT THE $5 MILLION AND THEN WE COME BACK TO EDC AND SAY, WELL NOW YOU BOUGHT THE LAND, THERE'S ANOTHER ONE.
WELL BY THE WAY, THERE'S A LIEN ON THERE FOR 5 MILLION.
WE DIDN'T TELL ANYBODY ABOUT, YOU GOTTA PAY US BACK FOR THAT, BUT WE'D ACTUALLY BE GETTING $10 MILLION.
WE GOT THE 5 MILLION THAT WE BOUGHT THE LAND WITH, BUT THEN WE SOLD THAT, THAT WAS PART OF THE WHOLE, THAT'S PART OF THE, UH, WHATEVER THE PURCHASE WAS, $18 MILLION OR WHATEVER.
UM, SO TO ME THAT'S ALMOST LIKE A DOUBLE DIP.
AND IF WE TAKE THE MONEY AND PUT IN OUR ACCOUNT, WHAT ARE WE GONNA DO WITH IT? WE JUST SIT THERE.
SO THEN WE'RE TAKING MONEY AWAY FROM THEM THAT THEY'RE SUPPOSED TO BE RAINY DAY, YOU KNOW, YOU NEVER KNOW IF THERE'S RECESSION, UH, THINGS HAPPEN, THEN WE NEED LIBRARY LAND AND A WATER TOWER LAND.
AND SO TO ME, IF WE'RE ALL LIKE EVEN STEVEN WHEN IT COMES TIME, HEY, CARVE OUT 40 ACRES FOR THIS COMPLEX, OTHERWISE THAT'S WHY THE EVEN SPLIT DOES IT? THE BOARD'S GONNA BE GOING, WELL, WE PAID YOU MONEY.
WE DIDN'T THINK YOU FORCED US TO PAY YOU 3.2 MILLION, SO WE WANT 8 MILLION WITH THIS LAND.
AND SO THE TAXPAYERS DON'T REALLY CARE, THEY JUST WANT STUFF BUILT.
I DON'T THINK ANYBODY ON THE STREET CARES.
YOU OWE US $3 MILLION, THAT'S 3 MILLION LESS YOU HAVE TO SPEND ON ECONOMIC DEVELOPMENT, BUT YOU WE'LL GET THE MONEY THEN WE'LL GO GIVE IT TO SOMEBODY FOR ECONOMIC DEVELOPMENT.
AND IF I HAVE THE EDC, IF WE'RE GONNA MAKE YOU GUYS OWE US $56 MILLION, WE SHOULD JUST DISBAND THE EDC TAKE THE HALF CENT INTO OUR OWN.
THE DEAL IS NOT TO TRY TO UNDERMINE THE WORK THAT THEY DO, THOUGH YOU DON'T THINK YOU CAN DO.
THAT FOR ME, THAT'S NOT OPTION.
IF YOU MAKE THEM PAY 56 MILLION, YOU'RE NOT REMINDING THEM BECAUSE THEY'RE NOT GONNA HAVE ANY MONEY FOR, FOR SEVERAL YEARS BECAUSE THE FIRST 15 MILLION HAS TO GO BACK TO THE BANK.
EVERYTHING ELSE HAS BUYING SOME BECAUSE THEY'RE GONNA HAVE NO MONEY TO DO IT.
I MEAN, AM I WRONG YOU GUYS? NO, YOU'RE, YOU'RE DEAD ON.
SO LIKE, I THINK THAT HIGH LEVEL, LOOKING AT THIS, YOU KNOW, I THINK IT, IT'S FINE.
I THINK THE, THE REAL, YOU KNOW, CRUX OF IT RIGHT NOW IS WINNING FINANCE TO FIGURE OUT WHAT'S, WHAT THE BEST PATH FORWARD IS WITH RESPECT TO SOME OF THE INFRASTRUCTURE OUT AT THE MEGA SITE.
BECAUSE IF THAT GOES UNDER, YOU KNOW, TUR TWO MM-HMM
AND IT ACTUALLY REDUCES THOSE NUMBERS BY QUITE A BIT BECAUSE YOU'RE TALKING ABOUT A BOND PLUS THE CARRYING COST, THAT'S BASICALLY $20 MILLION OF 52, 53.
SO WE'VE ALMOST CUT THAT NUMBER ABOUT THIRD IF NOT ALMOST EVEN CLOSER TO 40%, ALMOST HALF.
SO I THINK THAT MAKES SOME OF THAT A LITTLE MORE, OR I THINK IT'S JUST IMPORTANT TO HAVE THAT RESULT.
NOW, YOU KNOW, THE EDC HAS NO PROBLEM DOING LAND SWAPS FOR SOME OF THIS AT A FAIR RATE FOR EVERYBODY.
YOU KNOW, IT'S NOT, I I WAS ACTUALLY SPEAKING WITH SEAN THIS MORNING, UH, ABOUT THIS MATTER AT UH, SPECIFICALLY AND A PART OF IT WAS, HEY, YOU KNOW, I WANNA BE FAIR TO THE CITY BECAUSE THIS IS A GIVE AND TAKE RELATIONSHIP.
UM, AND SO I DON'T WANT TO GO TO THE CITY BECAUSE WE HELP THE CITY OUT.
WE WALK LOCK STEP, BUT WOULD BE IF NECESSARY TO MAKE SURE THAT EVERYBODY FEELS THAT THEY ARE, UH, RECEIVING A FAIR, UM, YOU KNOW, SHAKE ON IT WOULD BE TO GO HAVE AN INDEPENDENT APPRAISAL, YOU KNOW, AS BUILT, DONE IN PARTNERSHIP WITH MIDWAY OR INDEPENDENT THIRD PARTY OR WHATEVER TO GO, HEY, THIS LAND IS WORTH 10 BUCKS A FOOT.
OKAY, IF IT'S WORTH 10 BUCKS A FOOT, THEN IT'S WORTH 10 BUCKS A FOOT.
IT'S NOT A NUMBER THAT ANYBODY OVER HERE IS PULLING OUT OF THEIR BUTT, FOR LACK OF A BETTER TERM TO GO, HEY, YEAH, WE THINK IT'S WORTH $20 IN FOOT.
NO, WE DON'T, WE DON'T KNOW THAT.
'CAUSE THEN YOU'RE BRINGING IN COMP SELL STUFF IN BUREAU OWN WILL FOR AWARE OF THAT WITH DOING AN APPRAISAL.
SO, BUT IF YOU BUY IT FOR SIX, SELL IT TO THE CITY FOR 10.
'CAUSE THAT'S WHAT APPRAISED THE ONLY PERSON THAT LOSES THE TAXPAYER AT THAT POINT, BECAUSE NOW THE LIBRARY JUST WENT UP $4 MILLION.
SO THAT'S WHY IT SHOULD ONLY BE AT WHAT YOU BOUGHT IT.
WHY WOULD THEY SELL IT FOR WHAT THEY BOUGHT IT FOR WHEN WE'RE CHARGING THEM INTEREST AND ISSUANCE COSTS AND, AND CHARGES.
BY DOING THAT, YOU'RE MAKING THE BOARD GO, WELL, IF YOU'RE GONNA CHARGE US FOR EVERY LITTLE NICKEL AND DIME AT 3.3 MILLION THAT
[00:15:01]
WE DIDN'T EVEN KNOW ABOUT THAT, THEN THEY'RE TAKING THE STANCE OF, WELL THEN YOU'RE GONNA PAY US FAIR MARKET VALUE FOR THE LAND.AND, AND THAT'S WHAT I'M SAYING, WE'RE GETTING ALL THIS TWO PEOPLE WITH THE SAME GOAL, BUT YOU'RE GONNA DRIVE EACH SIDE TO GO, WELL YOU OWE US EXTRA AND EVERY ATTORNEY DOLLAR WE SPEND, YOU HAVE TO REIMBURSE US.
AND THE ONLY PEOPLE LOSING ARE GONNA BE THE TAXPAYERS.
THAT'S WHY THIS FEELS BETTER TO ME.
IT'S, IT'S WHEN YOU WOULD REALLY GO BACK TO THIS WHOLE ENGAGEMENT OF THE, THE LAND OUT IN COTTON.
I MEAN I THINK THE BOARD HAD A LOT OF MIXED FEELINGS, UM, ON DOING IT, BUT WE STEPPED UP BECAUSE WE WANNA BE GREAT PARTNERS TO THE CITY.
WE WANNA SUPPORT THE CITY AND, AND SEEING IT GO THE OTHER WAY AND HOW IT COULD HAVE GONE COULD HAVE COST THE CITY MILLIONS AND MILLIONS OF DOLLARS.
SO WE STEPPED UP AND WE DID OUR PART TO FIND OUT AFTER WE'VE PURCHASED IT THAT, OH, IT WAS A GIFT THAT KEEPS ON GIVING.
I THINK WE STARTED AT 18 AND THEN IT CREEPED UP TO 20 AND THEN 21 AND IT JUST KEPT MOVING UP AND THEN NOW IT FEELS LIKE THERE'S ADDITIONAL MILLIONS OF DOLLARS BEING PUT ON THIS.
I WOULD SAY THAT'S THE FRUSTRATING PART.
SO WHAT HE SAID WAS DEAD ON IT IS IT'S, IT'S DEAD ON OF HOW THE BOARD FEELS ABOUT THIS.
AND, AND I COULD SEE IT GOING THAT WAY.
SO, SO THE OTHER POINT I WAS GONNA SAY, THERE ARE TWO DIFFERENT THINGS TO LOOK AT, RIGHT? THERE IS MONEY THAT'S BEEN SPENT FOR THE MEGA SITE.
THAT'S ONE DISCUSSION, WHICH IS THE SPINE ROAD, WHICH YOU'RE TALKING MOST OF IT, YOU'RE TALKING ABOUT PUTTING IT ON THE TURF.
THAT HAS NOTHING TO DO WITH THE COTTONWOOD PROPERTY.
AND, AND IN MY VIEW, AND I'M NOT SPEAKING FOR EVERYBODY.
I GET THE HARD COST FOR THAT STUFF.
SO THAT ONE, I THINK YOU PUT THAT OFF TO THE SIDE.
SO IN THEORY, I DON'T NECESSARILY ARGUE IN MY, MY OTHER COUNCIL MEMBERS MADE
WE SHOULD HAVE USED THE, THE ROAD BONDS FOR WHICH WE ACTUALLY DID.
WE TOOK OUT THE ROAD BOND FOR IT IN SOME OF THE CITY BUDGET RIGHT NOW.
OTHER PEOPLE SAID NO TDC NEEDS TO PAY THAT CARRYING COST.
MAYBE THE TUR PICKS IT UP WHEN THEY, WHEN THEY, WHEN THEY CAN.
THAT THAT'S A DIFFERENT DISCUSSION.
WHEN I LOOK AT JUST THE COTTONWOOD PROPERTY, WHAT I LOOK AT IS YOU PAID, UM, 16 MILLION, WE ALSO PAID 6 MILLION FOR THAT PIECE OF PROPERTY, RIGHT? NOTHING ELSE.
SO IF YOU WERE TO SAY EVEN STEVEN, THE CITY OWNS A THIRD OF THAT LAND.
THAT'S THE WAY I WOULD LOOK AT IT.
AND I WOULDN'T GET INTO NUMBERS, I WOULDN'T DO ANY CARRYING COSTS, ALL THIS CRAP.
THE CITY OWNS A THIRD OF THAT LAND WHERE IT GETS CARVED OUT FOR OUR POLICE STATION OR ANYTHING ELSE.
WE HAVE A THIRD AND, AND, AND IT WORKS WITH Y'ALL IN DEVELOPMENT WITH MIDWAY OR WHOEVER OR WHERE IT IS.
AND YOU MEET OUR NEEDS ON THAT.
AND IF WE EXCEED THAT FOR ADDITIONAL STUFF, THEN I THINK THE CITY THEN NEEDS TO.
BUT I THINK THAT'S OPPORTUNITY COST CAREFUL TO A CERTAIN EXTENT BECAUSE JUST, AND, AND I KNOW WE'RE JUST TALKING HYPOTHETICALS, BUT TO ME, IF I'M A DEVELOPER LIKE MIDWAY, I'M LOOKING AT GOING, OH, I JUST LOST 60 ACRES OF THIS PROPERTY.
I MEAN THAT'S, THAT ACTUALLY CAN ALSO CAUSE THE INVERSE TO HAPPEN WHERE NOW YOU LOSE OUT ON A RETAILER OR SOMETHING ELSE THAT'S GENERATING NOT ONLY PROPERTY TAX DOLLARS AND JUST GET ADD WARM TAXES, BUT EVEN SALES TAX THAT IMPACTS BOTH PARTIES.
BUT IF WE THEN HAVE TO TURN AROUND AND GO BUY ANOTHER 60 ACRES FOR A POLICE STATION SOMEWHERE ELSE, YOU DID NOT SAVE US ANY MONEY FOR YOUR INCREMENTAL PROPERTY TAX ON THAT RETAIL DEVELOPMENT.
SO THAT'S WHY I, WHEN YOU TALK TO MIDWAY, YOU'D BE LIKE, WE KNOW WE HAVE TO PUT A WASTEWATER TOWER UP THERE SOMEWHERE.
WE KNOW WE'RE GONNA HAVE TO, WE KNOW WE NEED A POLICE STATION POLICE THAT WE KNOW WE'RE GONNA NEED ONE.
WE'RE WE ALREADY DID THE FUNDING THING TO GET THE BUILD OUT LIKE THE SIZE THAT IT NEEDS TO BE.
YOU NEED TO PIECE OUT EVERYTHING ONCE, ONCE WE GET ALL THOSE NUMBERS, YOU KNOW, HOPEFULLY IT'S WITHIN, I'M NOT SAYING WE PAID 60 ACRES.
YEAH, BUT I'M SAYING IF IT'S 35 ACRES THAT WE NEED, HEY, IN MY MIND THE CITY ACTUALLY HAS SOME SKIN IN THE GAME OF 6 MILLION BECAUSE YOU WOULDN'T HAVE BOUGHT IT AT 15 AND YOU COULDN'T TAKE ANYMORE.
SO YOU WOULDN'T HAVE IT EITHER.
SO WHAT I'M SAYING IS I LOOK AT IT AS THE EDC HAS TWO THIRDS OF THAT.
LAND CITY HAS A THIRD, IT'S UNDER Y'ALL'S CONTROL AND YOU'RE GONNA TRY TO GET THE BEST DEVELOPMENT AND IT WOULD MAKE SENSE.
BUT IF YOU DEVELOP THE WHOLE THING AND THEN WE HAVE TO GO OUT AND GO BUY THE EQUIVALENT OF A THIRD OF THAT ACREAGE SOMEWHERE ELSE, THE TAXPAYERS LOST IN HOUSE.
AT LEAST IN MY MIND, I'VE NEVER THOUGHT THAT, I ALWAYS KNEW THAT WE WERE GONNA BE DOING THINGS LIKE A LIBRARY OR, OR POLICE STATION, THINGS LIKE THAT.
I THINK AT EVERYBODY, AT LEAST I'M SPEAKING FOR MYSELF, I THINK IN OUR MIND WE, WHICH IS WHY I DON'T THINK WE NEED TO GO OUT FOR COMPS.
'CAUSE I'M LIKE, YOU CAN DO VERY SIMPLE.
IT'S LIKE Y'ALL PAID FOR TWO THIRDS OF IT.
WE PAID FOR A THIRD STRAIGHT UP, WE A LINE ITEM.
WE PAID, YOU PUT 15 MILLION TO THE THE PROPERTY TO BUY IT.
SO YOU WERE ABLE TO PAY OFF THE JUDGMENT AND GET THE LAND.
BUT ALSO THERE'S THIS, AGAIN, I'M REMAINING IN HYPOTHETICAL LAND, BUT IF THE 60 ACRES, I DON'T KNOW, THAT'S NOT NECESSARILY A NUMBER, BUT LET'S SAY IT IS, WE'D GO TO MIDWAY AND SAY, HEY, YOU JUST LOST A THIRD OF LAND.
DOES MIDWAY WALK AWAY FROM PROJECT AT THAT POINT BECAUSE IT'S NO LONGER MARKETABLE OR FEASIBLE? WE DON DON'T SAY OR DO WE JUST PAY THAT BACK? WE JUST GIVE YOU THE 6 MILLION RIGHT NOW.
YEAH, I DON'T, BUT WE IM SAYING IS WE'RE,
[00:20:01]
WE'RE I'M COMING IS YOU GO INTO WITH MIDWAY AND SAY, HEY, WE KNOW WE NEED TO PUT A POLICE STATION.HOW DOES THAT WORK WITHIN YOUR DEVELOPMENT? THAT ENHANCES WHAT YOU'RE TRYING TO DO THERE OR A LIBRARY OR THAT'S OUR GOAL CENTER OR WHATEVER.
SO, AND ALSO KEEP IN MIND WHEN THEY GO TO DEVELOP THE LAND AND WE'RE GONNA GO BUILD A POLICE STATION, IF IT'S DONE IN A, IN A, IN THE RIGHT TIME ORDER, THE DEVELOPER'S PUTTING ALL THE UTILITIES IN, THEY'RE DRAGGING WATER WASTEWATER.
SO ALL THAT MAKES IT MORE VALUABLE.
SO I DON'T KNOW, AGAIN, I DON'T KNOW WHAT THE LAND NEEDS TO BE, BUT I THINK THEY JUST NEED TO KNOW THAT TO BE WORKING WITH MIDWAY TO INCORPORATE SOME KIND OF MUNICIPAL COMPLEX THAT INCLUDES THE LIBRARY, THE POLICE, UM, AND WHATEVER THE OTHER DEAL WAS AND UH, AND THE WATER TOWER AND TO INCORPORATE THAT IN THERE AND THEN THEY CAN DESIGN TO WHERE IT LOOKS LIKE IT WAS ALL DONE FOR A REASON.
UM, I ENVISION, UH, AND THIS IS JUST ME PERSONALLY, BUT LIKE I'VE SEEN MANY DEVELOPMENTS LIKE WHETHER IT'S UH, UH, SOUTH LAKE TOWN CENTER UP IN DALLAS WHERE IT'S KIND OF A INTEGRATED KIND OF ONE STOP SHOP.
THERE'S A LITTLE BIT OF EVERYTHING THERE.
THERE'S SOME CITY STUFF THERE, YOU KNOW, ENTERTAINMENT, OTHER THINGS, YOU KNOW, BASICALLY COST AND ACTIVITY BUT MEAN THE SAME IS ALSO TRUE OF LIKE B CASE.
THE OTHER CITY HALL LITERALLY SMACK DAB IN THE MIDDLE OF A RETAIL BUILDING UTIL YEAH.
SO I MEAN LIKE WE CAN HAVE SOMETHING I THINK SIMILAR TO THAT WITHOUT HAVING TO PLOP CITY HALL INTO IT OR WHATEVER ELSE.
BUT THERE CAN BE OTHER FACILITIES THERE THAT COVER THE GROWTH NEEDS OF THE CITY.
'CAUSE HONESTLY, LEER IS A GREAT STREET TO BE ON FOR ANY OF THAT.
ESPECIALLY WHENEVER 1 32 AND 1660 ARE REALIGNED.
THINK THE DEAL IS IS THAT THIS MINE ROAD AND THE DEAL WITH MIDWAY, THOSE ARE BOTH LIKE INFRASTRUCTURE IMPROVEMENTS TO THE LAND, RIGHT? SO IT'S GONNA AUTOMATICALLY INCREASE THE VALUE.
SO IT'S GONNA BE A BENEFIT TO THE EDC THAT Y'ALL CAN KNOCK OUT THIS $15 MILLION AND HOPEFULLY THAT'LL BE JUST A CASH COW.
RIGHT? UM, AT THE END OF THE DAY, OBVIOUSLY THE COTTONWOOD PROPERTY IS GONNA WORK A LITTLE BIT DIFFERENTLY 'CAUSE Y'ALL HAVE A DEVELOPER.
BUT I MEAN, I GUESS WE JUST NEED TO PRIORITIZE.
LIKE I FEEL LIKE WE HAVE THE INFRASTRUCTURE LIKE GOING AND ROLLING.
I DON'T THINK WE SHOULD ARGUE OVER THOSE COSTS.
I THINK IT'S JUST ABOUT LIKE, JUST, YOU KNOW, THE BASICS OF, YOU KNOW, THE OTHER, THE OTHER THINGS I GUESS.
'CAUSE Y'ALL DO HAVE THE 15 MILLION OR SIX 17 WITH THE INTEREST AND I GUESS IT'S, IT'S ALMOST SIMILAR WITH THE CITY LOAN BUTLER AND THE LEGAL FEES.
I KNOW THAT, YOU KNOW, LEGAL FEES WAS, YOU KNOW, YOU MENTIONED THAT THAT WASN'T THING.
SO IT'S KIND OF SPLIT RIGHT THERE AFTER ALL OF WE, IF WE TAKE THE INFRASTRUCTURE OUT OF THE PICTURE RIGHT, WE'RE PRETTY MUCH EVEN WITH WHAT Y'ALL HAVE UNDER YOUR EDC EXPENSES AND WHAT WE HAVE UNDER CITY EXPENSES
SO YEAH, I THINK A THIRD OF THE LAND IS JUST WAY TOO MUCH FOR THE CITY TO, TO THINK ABOUT TAKING.
I I DON'T ON THE COST BASIS, I UNDERSTAND SAYING ON THE COST BASIS, I UNDERSTAND SAYING YEP.
WE, WE COULD ALMOST SAY WE FEEL LIKE WE OWN A THIRD OF THE LAND.
UM, THERE IS GONNA BE CITY NOT LAND SOMEWHERE.
WE DON'T KNOW WHAT THE AMOUNT'S GONNA BE, BUT IT'S FAR THIRD LET'S AND THEN, BUT HOLD ON.
ALRIGHT, SO AT 6 23, BRIAN THOMPSON BOARD MEMBER HAS ARRIVED AT THIS TIME THE A DC DOES HAVE A NUMBER.
BRIAN COUNCIL THOMPSON, UH, GOING TO CITY COUNCIL.
SO I, I GUESS MY ONLY, YOU KNOW, YEAH.
I EXPECT YOU GUYS TO JUST SIT THERE AND JUST, YOU KNOW, KEEP SENDING MONEY OVER UNTIL YOU GET TO 40 AND A HALF MILLION DOLLARS.
THAT'S, THAT'S NOT GONNA HAPPEN.
UM, BUT YOU KNOW, YOU GUYS START SELLING A BUNCH OF LAND AND YOU PAY OFF THE LOAN AND YOU'VE GOT EIGHT FIGURES IN THE BANK ACCOUNT.
EITHER WE GOT A WHOLE LAUNDRY LIST OF STUFF AND WE GOTTA WORK OUT HOW TO WORK THAT TOGETHER SO THAT IT'S NOT JUST US COME COMING BACK AND TELLING YOU WE'RE TAKING $10 MILLION FOR THIS.
BUT TO A CERTAIN EXTENT, WELL, I THINK WE'RE GONNA BE COMING BACK LOOKING FOR, LOOKING FOR MONEY TO FUND DIFFERENT PROJECTS, WHETHER IT'S THE OVERPASS OR WHATEVER IT'S, WELL, BUT I THINK, SO THE, AND FUNDAMENTALLY I DON'T HAVE ISSUE WITH THAT.
SO LIKE ANYTHING THAT IS WITHIN, INSIDE OF, YOU KNOW, THE, THE CHARGE OF THE EDC AS IT RELATES TO, YOU KNOW, TEXAS LAW FOR TYPE A, TYPE B, YOU KNOW, CORPORATIONS.
UH, WHERE I, YOU KNOW, HAVE, I GUESS ISSUE IF YOU WANNA SAY ANYTHING IS MORE OF THE, IF WE'RE DOING EVERYTHING IN A PARTNERSHIP, THAT'S FINE.
[00:25:01]
CAN CROSS THAT LITERAL BRIDGE TOGETHER AND WHATEVER HAPPENS THERE HAPPENS.I THINK THE MOST IMPORTANT THING THOUGH IS THAT IT DOES NEED TO BE VIEWED AS A PARTNERSHIP AND NOT AS A, OH HEY, AND I'M NOT SUGGESTING THIS, BUT IT HAS HAPPENED WHERE THE EDC IS VIEWED AS A CONDUIT OR PIGGY BANK FOR A VARIETY OF NEEDS OF THE CITY GOING, WELL, THEY'VE GOT THE MONEY.
THEY CAN BUILD THIS TAKE A HUNDRED GRAND FROM.
OKAY, WELL, IS THAT NECESSARILY THE RIGHT MOVE? MAYBE, MAYBE NOT.
BUT YOU KNOW, IT, IT'S, IT MAKES THINGS PRETTY CONTENTIOUS WHEN IT'S LIKE, DO THIS 'CAUSE IT JUST, IT'S, I MEAN, AND, AND YOU SAW THAT IT'S NOT A GOOD SPOT FOR BE IN, I DON'T THINK.
AND I THINK, THINK CERTAIN THINGS HAVE CHANGED.
I'LL BE THE PERSON TO TELL YOU THAT.
BUT I THINK WE JUST HAVE TO MAIN REMAIN STEADFAST AND FOCUSED ON MAINTAINING THAT RELATIONSHIP AND HAVING YOU GOOD OPEN COMMUNICATION BETWEEN BOTH PARTIES.
SO, I MEAN, AND YOU KNOW, AND LOOK, IF I'M BEING JUST, IF I PUT THE TAXPAYER HAT ON FOR A SECOND AND, AND THE EDC CHAIR HAT OFF, THERE ARE A COUPLE THINGS THAT HAVE OCCURRED WITH THE COTTONWOOD PROPERTY AS A WHOLE THAT HAS KIND OF GOTTEN US TO WHERE WE ARE TO A CERTAIN EXTENT.
WHAT DO I MEAN BY THAT? SO BUTLER SETTLEMENT HAPPENED WITHOUT THE EDC INVOLVEMENT.
IT, THE SAID, YOU JUST WENT HERE.
AND LOOK, IF THAT WAS THE RIGHT MOVE, THAT WAS THE RIGHT MOVE, I'M NOT GONNA QUESTION IT.
HOWEVER, IT'S THEN AFTER THE FACT GOING, HEY, NOW YOU NEED TO PAY FOR THIS OR YOU KNOW, ANY OTHER NUMBER OF THINGS.
IT'S LIKE IF THEY'RE, IF IF THE EDC IS GONNA BE GIVEN MONEY BY THE CITY FOR INFRASTRUCTURE, VARIETY OF PROJECTS, LOAN STUFF, YOU NAME IT, IT HAS TO BE PAPERED UP BEFORE WE DO ANYTHING.
AND THAT'S WHERE SOME OF THIS HAS GONE AWRY BECAUSE IT WASN'T.
AND THAT'S WHY WE'RE ALL SITTING AT THE TABLE.
WELL, AND I ALSO THINK TO THROW SOMETHING OUT, WE'RE ALSO IN THE MIDDLE OF A LAWSUIT THAT DEPENDING ON WHAT HAPPENS CREATION, THEY'RE NOT GONNA HAVE ANY MORE DEBT THAT THEY MAY HAVE A WINDFALL, IT WOULD WIPE OUT ALL OF THAT ANYWAY.
SO AT THAT POINT IT'S, UH, WE PAY ALL OUR LEGAL FEES WITH THAT AND BONUS THAT BACK IN THE BUTLER SETTLEMENT AND ALL OF THAT FROM THAT AND SAY NOW WE'RE WHOLE AND YOU GO ON ABOUT YOUR MERRY WAY AND WE PAID OFF YOUR $15 MILLION LOAN.
AND, AND TO ME IT'S LIKE, IF, IF WE AGREE AT THE END OF THE DAY AND SAY, HEY LOOK, THE EDC WILL, YOU KNOW, ASSUME THE BUTLER SETTLEMENT AND THE THE $6 MILLION CITY LOAN, WHICH I BELIEVE THE 6 MILLION, I COULD BE WRONG.
BUT IF THAT'S THE CASE, THAT'S FINE.
HOWEVER, I, I THINK IT'S A FAIR ASK FROM THE ED C'S PERSPECTIVE TO SAY THAT THERE'S A CLAWBACK ON THAT TO WHERE IF THAT IS DETERMINED THAT UH, COTTONWOOD DEVELOPMENT WINS THE SUIT, THAT THOSE FUNDS ARE THEN RETURNED TO THE EDC AT ITS RESPECTIVE SHARE OR THEY'RE JUST TORN UP THAT YOU DON'T OWE IT IF IT'S STILL AN I EITHER WAY, YES, EITHER WAY I'M, I'M COOL WITH, BUT WHAT I DON'T WANT IS TO BE LIKE, HEY, WE PAID FOR THIS AND THEN COTTONWOOD WINS AND IT'S LIKE, OH HEY WE'RE, YEAH, WE DOUBLE.
THAT'S, THAT'S WHY I'M LIKE, I DON'T WANNA AGREE TO ANYTHING NOW I WANT US TO HAVE ALAW BACK THING THAT SAYS, BECAUSE THAT WAS MY SAME QUESTION WHEN I WAS TALKING ABOUT CHAIN NOT THAT LONG AGO.
IT'S LIKE WE'RE TALKING ABOUT, YOU KNOW, YEAH.
SOME OF THESE UTILITIES AND SOME OTHER THINGS.
IT'S LIKE OKAY, WELL IF THE EDC WERE TO ASSUME THAT DEBT, OKAY, UNDERSTANDABLE, WHATEVER.
BUT YOU ALSO RUN INTO THE PROBLEM THOUGH OF WHEN THE EDC WOULD PAY THAT BACK, THAT MONEY WOULD GO ON THE GENERAL FUND.
SO AS A TAXPAYER, I'M SAYING, HEY, I AGREE TO THIS BOND, IT'S HANDED OVER TO THE EDC, BUT THEN THE EDC PAYS FOR IT BACK OFF OF SALES TAX AND, AND LAND SALES.
BUT THEN THE MONEY OR THAN THE CITY NOW HAS, YOU KNOW, BETWEEN 10 AND $15 MILLION WORTH OF ADDITIONAL FUNDS AND THE GENERAL FUND WHEN IT SHOULDN'T BE, IT SHOULD BE EARMARKED FOR ADDITIONAL INFRASTRUCTURE.
I MEAN WE CAN DO THAT IN LANGUAGE TOO.
IS THAT IT? IT SHOULD GO TO INFRASTRUCTURE.
BUT LIKE THE CITY LOAN DID COME OUT A GENERAL FUND AND THAT'S FINE.
AND THAT'S ALL I'M SAYING IS, IS WHEREVER IT ORIGINATED FROM, MAKE SURE THOSE FUNDS GO BACK.
THE LOAN BOTH CAME OUTTA THE LOAN, BOTH CAME OUTTA GENERAL FUND.
THE SECOND WE START GETTING INTO BONDS AND OTHER STUFF OF LIKE THINGS THE UTILITY FUND OR WHATEVER ELSE.
THAT'S GOTTA GO BACK TO WHERE IT CAME FROM.
OR WHERE IT GETS PICKED UP WITH THE CHURCH.
AND I AGREE WITH YOU ON THE COMMUNICATION.
I MEAN THAT THE BUTLER LOAN, THAT IS A GOOD EXAMPLE.
WE SHOULD, YOU GUYS WEREN'T INVOLVED IN PAYING IT, BUT WE SHOULD HAVE STILL COMMUNICATED AND SAID, HEY, THIS IS OUT THERE, WE NEED TO DEAL WITH IT.
SO JUST LETTING YOU GUYS KNOW SOMETHING'S GONNA HAPPEN WITH THIS PRETTY SOON HERE BECAUSE, OR WE GET IT ADDRESSED OR WHATEVER.
BECAUSE OF LEGAL, LIKE IT WAS ALSO, WE WERE IN A LAWSUIT THAT OTHER THEY COULD, BUT YOU KNOW, THEY COME, THEY HAVE THEIR OWN EXECUTIVE SESSION AND THEY'RE GONNA DO LAND SALES AND THEY CAN'T GO BUY LAND CELLS WITH LEGAL EXPENSE THEY DON'T KNOW IS GONNA HIT.
BUT COUNCILMAN PORTERFIELD, I KNOW A LOT OF THIS IS NOT BEEN DISPLACED IN THE PAST TWO MEETINGS YOU'VE
[00:30:01]
BEEN ON COUNCIL, BUT ANY PROFESS NO, I JUST, UH, ONE OF YOUR FINANCES LIKE THIS, BUT IT WAS MANY, MANY, MANY, MANY HOURS.WHICH IS WHY THIS IS ALL SCREWY.
UM, YEAH, JUST FROM A TAXPAYER PERSPECTIVE, UM, WE'RE GONNA LIVE IN AN ANALOGY WORLD.
UM, YOU KNOW, I THINK WHATEVER, WHATEVER WE DO, WE NEED TO FIGURE OUT QUICK.
'CAUSE THE KIDS WANNA DO PARA SKATES AND WE'RE ALL FIGHTING AND TRYING TO FIGURE OUT WHAT'S GONNA HAPPEN.
YOU GOT TAXPAYERS OUT THERE THAT JUST WANT SOMETHING TO HAPPEN.
SO THAT'S ALL, THAT'S ALL I REALLY, I DON'T HAVE ANYTHING ELSE TO ADD OTHER THAN, UM, IT'S ALWAYS FUN TO PLAY WITH SOMEONE ELSE'S MONEY.
CUSTOMER
I DO, UM, AGREE WITH THE COMMUNICATION ASPECT.
UM, 'CAUSE I KNOW THAT'S BEEN A, A PAIN POINT ON THE EDC, UM, WITH COUNSEL AND SO, UM, I THINK, YOU KNOW, SHORING UP THAT, BUT UM, I LIKE, YEAH.
WHAT'S YOUR DESIRED OUTCOME? WELL, I DON'T THINK
WELL, I MEAN WITHOUT THE MOTION, JUST WHAT, WITH YOUR TALKS ON EDC, WHAT HAVE YOU SEEN AS THE, THE MOST DESIRABLE OUTCOME FROM YOUR POINT OF VIEW? FOR ME, I'D LIKE TO SEE US WITH THE 6,000 ON THE SPINE ROAD, UNDERSTAND WHAT, HOW THAT'S GOING TO BE REPAID.
AND THEN FROM THERE, WE, WE, WE, WE, WE GO FROM THERE.
WE FIGURE OUT HOW THAT'S GONNA, HOW, HOW WE'RE GONNA START, HOW WE'RE GOING TO PAY BACK THAT FROM THE EDC AND THEN WE GO FROM THERE.
THAT'S WHAT I'D LIKE TO SEE FROM THE SIDE.
THE UTILITIES UTIL YEAH, WHY DON'T YOU, WHY DON'T YOU TELL 'EM THE MOTION? BECAUSE THE MOTION I MADE SINCE OBVIOUSLY, UH, I WAS TELLING THEM WE, WE CAN'T TALK ON THE CITY COUNCIL SIDE, DISCUSS IT ITEM UNTIL WE HAVE A MOTION WAS IN ESSENCE EVEN STEVEN ON THE DEBTS.
AND WHEN THE TIME COMES AND THEY'RE INCORPORATING THE, THE OVERALL LAND USE PLAN TO INCLUDE LIBRARY, POLICE, ALL THAT, THAT WE'RE WORKING TOGETHER.
BUT THAT THIS WHO OWES EVERYBODY ALL DIFFERENT MONEY AT THE END OF THE DAY, WE'RE ALL WORKING TOWARDS THE SAME GOAL.
SO EVEN STEVEN ON THE DECK, BUT THE UNDERSTANDING THAT THE LIBRARY POLICE STATION WILL BE DISCUSSED JOINTLY THAT THEY WORK WITH MIDWAY TO WHERE, I DON'T KNOW WHERE TO PUT THE LIBRARY AT.
YEAH, I MEAN I WOULD SAY IN THE BACK.
UM, BECAUSE I I, AND THE REASON I MADE IT WAS I DIDN'T SEE A VALUE OF GOING TO THE EDC AND GOING, WE OWE US $6 MILLION SO PAY IT BECAUSE WHATEVER WE TAKE OUTTA THEIR POCKET AND WE DO OUR INCENTIVE AGREEMENTS, WE GOT THE CITY PUTTING MONEY IN, WE GOT THE EDC PUTTING MONEY IN.
I'VE BEEN A PROPONENT, I DON'T WANT THE CITY PUTTING ANY MONEY IN.
I WANT THE EDC PUTTING THE MONEY IN AND THEN BEING A DEVELOPMENT ARM.
BUT IF WE MAKE THEM PAY US 6 MILLION, THEN THERE'S GONNA BE AGREEMENT COME UP THAT'LL SAY, CAN YOU GUYS PUT SOME MONEY IN? 'CAUSE WE DON'T HAVE ANY MONEY AND WE WANT TO GET THIS DEAL DONE.
AND TO ME, IF WE ALL WANT, THEY CAN BUILD ROADS.
YOU GUYS, YOU ON THERE, YOU CAN BUILD ROADS, WATER WASTEWATER, YOU CAN BUILD PARKS.
ALL THAT'S ECONOMIC DEVELOPMENT.
AND SO NO ONE ON THE STREET THAT I HAVE MET CARES WHO BILLS THIS STUFF.
AND NO OFFENSE TO THE ATTORNEYS, BUT YOU GUYS WILL SPEND $20,000 COMING UP WITH HOW WE'RE GONNA PAY ALL THIS AND WE CAN SAVE $20,000 BY SAYING EVEN STEVEN, OTHERWISE THE BILLS ARE GONNA COME IN AND WELL, I GUESS WHAT'S THE, WHAT'S THE, WHAT'S THE LEARNINGS FROM THIS? WHAT'S THE, OBVIOUSLY THE COMMUNICATION PIECE, BUT MOVING FORWARD, WHAT, WHAT ARE I DON'T THINK WE ARE DRAFTING OUT THE, WELL, I MEAN I FEEL LIKE YOU COULD SAY THAT AND I WOULD HOPE THAT WOULD BE THE CASE.
BUT I MEAN IS THERE ANYTHING THAT WE'RE GONNA PUT IN PLACE WHERE THIS IS THE NEW NORM MOVING FORWARD? SO WE DON'T GET TO A SITUATION LIKE THIS? WELL, THIS SHOULD NEVER BE THE NORM
I THINK THIS, IN MY OPINION, WELL HOW MANY YEARS HAS IT GONE ON? I MEAN, IT'S JUST ONE PIECE OF THAT.
BUT ONE TIME IT HAPPENED IN 20 19, 20 18 AND 2019, IN MY OPINION, A ROGUE PERSON LIKE THAT BUTLER LOAN, NOBODY APPROVED TO BORROW FOUR AND A HALF MILLION DOLLARS FROM THE CITY COUNCIL.
AND SO WE CAN LITIGATE IT OR SETTLE, WE CHOSE TO SETTLE.
THE REASON WE HAVE ALL THESE 3.3 MILLION LEGAL FEES WAS AGAIN, STUFF THAT WAS DONE THAT ANOTHER ENTITY, UH, TOOK ON AND WE GOT INTO A BIG MESS.
[00:35:01]
AND THEN THE CITY LOAN WAS, IN MY MIND, I WAS, ONE OF THE PROPONENTS OF PUSHING FOR IT WAS I DIDN'T WANNA SEE THE DEVELOPER THAT WERE IN A LAWSUIT TAKING THE LAND AND THROWING UP 240 ACRES OF APARTMENTS.UM, AND SO TO ME OUTSOURCED $6 MILLION TO THE CITY'S MONEY JUST TO MAKE SURE WE DIDN'T HAVE, YOU KNOW, 50,000 APARTMENTS BUILT.
BUT I AGREE THAT COMMUNICATION NEEDS TO BE PARAMOUNT AND THE CITY COUNCIL I THINK HAS LEARNED TO BE MORE, MORE CAUTIOUS AND DIGGING IN MORE ON, I DON'T EVEN KNOW HOW YOU GET A 5 MILLION LOAN WITH THAT ON CITY COUNCIL.
SO I DON'T KNOW IF THAT'LL EVER HAPPEN AGAIN.
I MEAN IF IF MONEY'S BEING MOVED BETWEEN THE ENTITIES, LIKE THERE NEEDS TO BE PAPERWORK BEHIND IT.
SEE THAT THERE NEEDS TO BE AN ACTION PLAN RIGHT THERE.
I MEAN I WOULD SAY ALSO A QUARTERLY EDC COUNCIL MEETING IF THAT'S NOT TOO FREQUENT.
SO THAT WOULD BE THE OTHER ASK.
DO WE JUST DO A QUARTERLY EDC COUNCIL? AND YOU GUYS KNOW, I THINK YOU OUGHT TO PAY FOR THE SPINE ROAD AND ALL THAT BECAUSE IT WAS YOUR ECONOMIC DEVELOPMENT DEAL.
I VOTED FOR IT WHEN I WAS ON EDC WITH THE THOUGHT EDC WAS PAYING FOR IT, BUT THE CITY TOOK OUT THE DEBT AND WE DECIDED TO PAY FOR IT.
AND I FIND IT HARD TO BELIEVE THAT WE'RE CHARGING TAX PAYERS.
WELL THAT, HOLD ON YOU EVEN WHAT I WANNA SAY, YOU MAY AGREE WITH THAT.
WE'RE CHARGING TAXPAYERS TODAY FOR THAT DEBT SERVICE ASKING THESE GUYS TO PAY THE MONEY BACK SO WE CAN PUT IN OUR COFFERS SO THAT MAYBE DOWN THE ROAD WE COULD DO IT TOURS.
BUT THAT'S HOW THE YMCA, THE PEOPLE TOOK THE DEBT OUT.
WE WERE GETTING RENT MONEY FROM THE YMCA AND PUT IT IN A GENERAL FUND.
TO ME, IF THEY PAY THAT MONEY BACK, THEN THE TAXPAYER NEEDS TO GET PAID BACK BECAUSE THAT'S WHY I SAY THE MONEY'S ALL OUT THERE.
IT IS CHEAPER TO JUST, AND THEN NEVER AGAIN GET IN ALL THIS WHO'S GONNA OVERATE TO THE CHAIRMAN SAID IT'S NOT PAPER IT UP THEN IT CAN'T HAPPEN BECAUSE I PUSHED FOR THAT LIKE SIX MONTHS AGO.
I WAS LIKE, WHAT THE HELL IS GOING ON? YOU GUYS ARE OUT BIDDING ON PROPERTY, WE'RE PAYING FOR IT.
AND NOW I'M LIKE, HOW'S THIS EVEN? HOW ARE WE ABLE TO TRANSFER MONEY FROM THE CITY TO THE EDC WITH NOTHING ON PAPER? HOW ARE YOU ALL BIDDING ON PROJECTS THAT WE'RE PAYING FOR IT? AND I'M LIKE, THIS JUST LOOKS LIKE A CLUSTER.
SO THEN ARE THE MEETINGS GONNA BE QUARTERLY OR ARE THEY GONNA BE, I'D HATE TO DO MONTHLY, BUT ARE THEY GONNA BE QUARTERLY, MONTHLY? JUST TO KIND OF UNDERSTAND WHERE WE ALL ARE BECAUSE EDC NEEDS TO BE THEIR OWN SEPARATE THING.
IF IT'S MONTHLY, THEN IT'S NOT REALLY THAT THEIR OWN CORPORATION COUNCIL THEN ON THEIR THUMB.
QUARTERLY THEN YOU'RE, THEY'RE GIVING AN UPDATE TO COUNCIL.
WE GIVE FEEDBACK AND THEN THEY GO WORK FOR TWO MORE MEETINGS BEFORE WE MEET AGAIN.
AND THEN THEY HAVE A MEETING LIKE THE WEEK AFTER.
JUST KINDA LIKE NOW WE'RE MEETING NOW Y'ALL ARE GONNA HAVE A PDC MEETING NEXT WEEK OR WEEK AFTER NEXT.
AND THEN, YOU KNOW, AND AFTER BUDGET SQL, WELL MAYBE WE'LL SET 'CAUSE THIS IS JUNE.
SO WE'LL SAY, YOU KNOW, JULY, AUGUST, SEPTEMBER, MID-SEPTEMBER WE MEET BEFORE THEY GO INTO OCTOBER AND THEY GET THROUGH THE NEXT STEP AND THE NEW FISCAL YEAR STARTS AND THEY HAVE THEIR FUNDING AND WE MEET.
BUT DO YOU NEED ACCESS TO THE BOARD OR DO YOU NEED MORE ACCESS TO CHENEY? CHENEY'S GONNA HAVE MOST OF THAT INFORMATION, BUT THE BOARD NEEDS TO BE ABLE TO BE ABLE TO TAKE ACTION.
SO I I WANT THE BOARD IN TO HEAR WHAT THEY'RE THINKING.
WE HAVE ACTION TO TAKE QUARTERLY.
I DON'T THINK IT NEEDS TO BE LIKE A FOUR HOUR.
NO BECAUSE WE'LL DRAG IT OUT LIKE THAT.
BUT IF WE JUST SET IT FOR ONE HOUR, STARTS AT SIX DONE.
IT RUNS CLOCK TOO FOR MM-HMM
I JUST THINK IT SHOULD BE WRITTEN DOWN AND WE SHOULD, WHETHER IT'S SIGNED AGREED TO BECAUSE YOU KNOW, TO THE MAYOR'S POINT DOING, YOU KNOW, JUST LET'S FORGIVE IT ALL AND LET'S MOVE FORWARD.
AND 11 MONTHS YOU GOT DIFFERENT COUNSEL.
WELL I'M STILL, THAT'S WHAT I'M SAYING, WRITE IT DOWN AND AGREED TO IT.
BECAUSE EVEN TEACHER GOES COUNCIL PORTERFIELD'S POINT, LIKE THAT'S A LOT.
AND SO YOU DEFINITELY WANNA HAVE SOMETHING WRITTEN DOWN THAT WE DON'T DO THIS AGAIN.
IT'S GONE DOWN IN TWO YEARS SINCE I'VE BEEN ON COUNCIL.
IT'S ALL GONE DOWN EVEN LESS AND LESS THAN THAT.
LIKE MAYBE A YEAR AND A HALF WAS THE FIRST SIX MONTHS.
NINE MONTHS WE WERE THAT DECEMBER.
ALRIGHT, SO WE GOT SEVEN MINUTES.
UM, WE CAN, UH, I'VE NOT BEEN ABLE TO SPEAK YET, MAYOR.
OH YEAH, SORRY, FORGOT MAYOR PRO TOWN.
UM, SO I JUST WANTED TO REITERATE, UH, ONE OF THE THINGS THAT WAS, THAT WAS SAID EARLIER, I MEAN I'M IN AGREE, I'M IN AGREEANCE WITH, UH, MOST OF WHAT WAS SAID.
UH, INCLUDING WHY WORRY ABOUT WHO OWES WHO, WHAT I MEAN THAT DOESN'T MAKE REALLY A WHOLE LOT OF SENSE TO ME.
LET'S JUST WORK FORWARD, UH, MOVE FORWARD TOGETHER AS A TEAM.
UM, I LIKE THE ANALOGY OF A MARRIAGE WHERE YOU, YOU KNOW, YOU'RE KIND OF EQUAL PARTNERS AND YOU'RE GOING TOGETHER, BUT IT'S ALSO NOT HELPFUL WHEN ONE MEM MARRIAGE PARTNER IS UM, KIND OF TRYING TO UNDERMINE IT BY, BY BADMOUTHING THE OTHER MEMBER IN PUBLIC.
[00:40:01]
WE'RE GONNA REALLY TRULY WORK TOGETHER, I THINK THAT WE NEED TO DO THAT.WE NEED TO, TO SHOW A A COMMON FRONT.
UM, JUST LIKE, UH, YOU KNOW, MY WIFE AND I SHOW A COMMON FRONT WITH OUR KIDS.
UM, I THINK WE NEED TO SHOW A COMMON FRONT TO THE CITIZENS AND WE NEED TO SHOW THAT WE ARE WILLING TO WORK TOGETHER IF WE HAVE DISAGREEMENTS ON HOW THINGS ARE BEING DONE, IF WE HAVE DISAGREEMENTS ON, YOU KNOW, TIMING OF THINGS.
LET'S WORK IT OUT IN THESE QUARTERLY MEETINGS AND LET'S FIGURE IT OUT.
UM, AND LET'S REALLY TRULY WORK TOGETHER TO MOVE FORWARD.
'CAUSE THAT'S WHAT I'VE WANTED FOR, FOR SOME TIME.
WELL I'M JUST IN AGREEANCE WITH YOU GUYS.
UM, I THINK IT'S A FAIR ASK TO UM, WORK TOGETHER AND PUT HOSPITAL AND POLICE AND FIGURE OUT WHERE THAT'S GONNA BE ON THE LAND.
AND I THINK THAT UM, YOU'RE RIGHT IN THE SENSE THAT WE'RE ALL GOING AFTER THE SAME GOAL.
SO JUST THROUGH GOING BACK AND FORTH AND, BUT I DO WANNA EMPHASIZE ON MAKING SURE THAT THIS IS WRITTEN DOWN SOMEWHERE SO THAT WE DON'T HAVE TO GO THROUGH THIS IN THE FUTURE OR PEOPLE ARE NOT CONFUSED ON WHAT'S HAPPENING.
'CAUSE IF THIS WAS BROUGHT UP IN THE FUTURE, I'M SURE IT WOULD BE CONFUSING.
IS THERE A MOTION ALREADY ON THE TABLE? YEAH.
BUT I'D LIKE TO MAKE AN AMENDMENT TO THE MOTION.
I WOULD LIKE TO MAKE AN AMENDMENT TO THE MOTION.
DO WE ADD QUARTERLY MEETINGS WITH THE JOINT? EEDC? THAT'S COUNCIL MEETINGS GO TO ACTION FOR US TO MODIFY OUR SCHEDULE.
WE JUST, ANYTHING THAT'S LIKE PERMANENTLY SCHEDULED, WE HAVE THAT ON THERE.
SO WELL THEN DON, CAN I MAKE A MOTION FOR THE EDC THAT WE DRAFT OR THAT WE HAVE ON OUR AGENDA TO ADOPT WHAT IS GONNA BE DRAFTED FOR FOR THE CITY COUNCIL? JUST SO LIKE THE SAME DOCUMENT? YEAH, I THINK THAT WAS SOMETHING THAT CHANEY WAS GONNA, YEAH, SOMETHING NEEDS TO BE DRAFTED BECAUSE CURRENTLY BOTH THE $6 MILLION, UM, LOAN FROM THE CITY FOR THE PURCHASE OF THE COTTON PROPERTIES AS WELL AS THE UH, SPINE ROAD BOND, THOSE ALL HAVE FUNDING AND REFUNDING AGREEMENTS, WHICH IMPLIES THAT THEY WILL BE PAID BACK.
SO THERE HAS TO BE SOME SORT OF DOCUMENT AND I WOULD LEAVE THAT TO LEGAL TO FIGURE OUT THE APPROPRIATE MECHANISM.
BUT WE HAVE TO PUT SOMETHING IN WRITING.
'CAUSE OTHERWISE THAT'S JUST GONNA BE OUT THERE LINGERING.
I DON'T THINK IT'S AS IF IS SORT OF PASS.
I DON'T THINK IT'S AS EASY AS I PASS.
WE LEAVE BUT ALSO DON'T WANNA SEE THE ATTORNEYS DRAFT UP $10,000 IN BILLS JUST TO SAY, HERE'S THE DEAL.
SHAKE CAN, BECAUSE I MEAN WE CAN JUST GO TO THE BANKER.
I KNOW A BANKER, I COULD PROBABLY DRAFT THAT UP.
I DON'T MIND, I DON'T MIND ADDING, I DON'T MIND ADDING QUARTERLY MEETINGS.
UM, WHICH SHOULD MAKE THE MOTION FROM THE COUNCIL BEING THAT, I DON'T KNOW, A LACK OF A BETTER TERM, BUT THAT THERE'S NO MONEY OWED TO EITHER PARTY GOING FORWARD, UM, WOULD BE THE DIRECTION TO DRAFT UP THAT AGREEMENT.
AND THAT WE WOULD ALSO START MEETING QUARTERLY.
SO CAN WE JUST ADOPT, SO CAN WE JUST ADOPT THAT LANGUAGE RIGHT THERE FOR THE EDC? BECAUSE WE NEED OUR OWN MOTION, RIGHT? YEAH, WE WILL.
I MEAN, SO WE'LL HAVE TO VOTE FIRST.
UH, SOMEONE, RIGHT? SOMEONE'S GOTTA VOTE FIRST, DON'T THEY? BEFORE ANOTHER ONE'S DONE WELL WHO? YEAH.
SO THE ATTORNEYS, BUT THE ONLY SECTION ITEM IS THE CITY.
YOU CAN'T TAKE ACTION BECAUSE IT DOESN'T SAY FOR THEM, IT SAYS FOR THE CITY.
WELL IT SAYS EDC NOT THE CITY.
YEAH, I I'M READING THIS AS THE CITY OF POTO.
SO THAT SHOULD BE US HOLDING THAT DECK.
WE DON'T HAVE AN ACKMAN FOR CITY OF POTO.
AND THEN CI THINK EACH THE CITY CAN TAKE ACTION IN THE, AND THEN WE ALSO NEED SOMETHING.
I DON'T KNOW HOW WE AMEND THAT, BUT THERE ALSO NEEDS TO BE SOME KIND OF A, MAYBE WE DON'T BUT, 'CAUSE I KNOW THE CITY MANAGERS BE, I'M TRYING TO DO BUDGETING AND ALL THIS STUFF AND WE HAVE THESE REFUNDING AGREEMENTS AND WHAT WE'RE GONNA DO AND IF SOMETHING HAPPENS WITH THE, WHAT I DON'T WANT, I WANT SOMETHING IDENTIFIED IN THIS AGREEMENT THAT IF COTTONWOOD WINS THAT IF WE SAID EVERYTHING TO EVEN STEVEN, IT'S NOT LIKE SOMEHOW, WELL SINCE YOU OWN THE LAND NOW YOU GET ALL THAT MONEY.
'CAUSE THAT FOR DANG SURE SHOULDN'T BE WELL COTTONWOOD WINS.
COTTONWOOD CREEK WOULD GET THE MONEY RIGHT FROM THE BOARD OF DIRECTORS.
BUT STILL, WHO'S ON SITTING ON THAT? ME AND PETER.
YOU GUYS MAKE SURE YOU DON'T TAKE THE MONEY AND GO SOMEWHERE DUBAI.
GO TO SOME UH, NON BUY SOME MORE.
SO THEN WHO FOR WE, SO I SEE A DISCUSSION ON
[00:45:01]
THE COUNCIL'S MOTION.THE DESIRE IS TO JUST BASICALLY STATE THIS IS ALL THE MONEY THAT'S GONE TO THIS AND WE'RE JUST SAYING THAT NOBODY OWES ANYBODY ANY, ANY MONEY OUT OF THIS.
WE WANT TO SAY ANYTHING ABOUT LAND BECAUSE MY EXPECTATION IS IF WE DO ALL THIS, THEN ALSO IF THERE'S CITY LAND THAT'S GONNA BE PART OF THE COTTONWOOD PROJECT THAT WE'RE NOT PAYING FOR THAT EITHER.
THAT'S JUST GONNA BE UP INTO LIKE I THOUGHT, MAN, I THOUGHT THAT'S WHAT YOU SAID WITH LIKE THE LENGTH.
NOT SPECIFICALLY, BUT I, I'M NOT WORRIED ABOUT THAT BECAUSE AGAIN, WE'RE, WE WORK TOGETHER BUT WE ALSO, WE EVEN HEAR THEIR MEETING AND NOT GONNA SELL SLAM FOR 50 BUCKS A FOOT.
YOU JUST GO, OKAY, MOTION REMOVE THIS PERSON MOTION REMOVED.
BUT WHEN IT'S LIKE, LOOK, WE'RE WORKING TOGETHER AND, AND WE KNOW WE'RE GONNA BUILD A COMPLEX, WELL WASN'T THAT ALREADY A PART OF YOUR MOTION TO SAY, HEY, YOU GUYS ARE GONNA, I I THINK, I THINK THE MOTION IS LIKE, I THINK YOU SHOULD PUT THAT IN THE MOTION.
I THINK THAT LIKE THERE'S GOOD INTENT ON ALL FRONTS, BUT I FEEL LIKE THIS IS GOING DOWN THE SAME POTENTIAL RABBIT HOLE AND THE REASON WHY WE'RE IN THIS ROOM.
SO TO ME IF IT IS A HEY WHAT EVERYBODY'S PAID IS FINE THUS FAR, EVERYBODY'S, YOU KNOW, ONE OF THESE WALKING AWAY.
THERE IS A TIME WHEN I'M NOT GONNA BE SITTING IN THIS CHAIR OR SEAN OR ANYONE ELSE IN THIS ROOM EXCEPT RUBY JANE.
BUT WHAT I WANT FOR HER SAKE AND ANYONE ELSE IN THE FUTURE IS THAT IT IS CRYSTAL CLEAR SAYING, HEY, THE EDC IS GRANTING SPACE FOR A POLICE STATION TO A LIBRARY TO BASICALLY HERE'S THE WISHLIST OF THE CITY AND WE ESTIMATE IT'S X AMOUNT OF ACRES.
I WOULD SAY THOUGH THAT THERE DOES NEED TO BE CAVEAT THAT, AND I'M NOT SAYING THAT MIDWAY WOULD HAVE THE FIRST RIGHT OF REFUSAL OR ANYTHING LIKE THAT, BUT IT NEEDS TO WORK WITH THEIR PLAN ABOUT ABOUT WE ADD, WE ADDED TO IT THAT UM, THE EDC WILL NOT UNREASONABLY WITHHOLD.
THAT'S A PARALEGAL TERM THERE, RIGHT? UNREASONABLY WITHHOLD LAND FOR A LIBRARY OF WATER TOWER AND THE POLICE STATION.
I THINK WE NEED TO REALLY KIND NARROW IT DOWN TO SAY, HEY, PRIORITY ONE IS EDC, YOU KNOW, 15000002ND PRIORITY IS WHAT DON SAID.
GOOD WORKING RELATIONSHIP BETWEEN THE TWO OF US.
ANYTHING IN EXCESS, WE'LL GO TO INFRASTRUCTURE, WHETHER IT'S ROGUE WATER, WASTEWATER, UM, AND THEN IF Y'ALL WANNA PUT AN EXTRA ONE FOR THIS CITY FACILITIES IN COTTONWOOD, WE CAN DO THAT.
THAT'S A LITTLE BIT MORE DETAILED.
AND THEN THE QUARTERLY MEETING, WELL YOU DON'T NEED ANYTHING ON THE INFRASTRUCTURE AND OTHER STUFF.
IT'S JUST A WALK AWAY THEN THAT MONEY ISN'T GOING ANYWHERE.
AND HERE'S ANOTHER THING TO STATE, IT DOESN'T NECESS EDC ALSO OWNS MEGACYCLE.
MM-HMM
SO IT COULD BE THAT THEY GOT THIS PHENOMENAL DEVELOPMENT WITH MIDWAY ALL UP THERE AND THEY SELL THAT WHOLE THING EXCEPT FOR THE WATER TOWER.
THAT IS INFRASTRUCTURE PART THERE THAT THAT NEEDS TO BE THERE.
WE ALREADY KNOW WHERE IT NEEDS TO BE AND I THINK IT'S LIKE TWO ACRES.
SO I DON'T KNOW WHY THAT'S NOT ALREADY LIKE CARVED OUT IN ANY PLANNED TO MIDWAY AND YOU CAN GET WITH THE CITY ENGINEER FOR THE LOCATION 'CAUSE THAT'S ALREADY UNDERSTOOD.
SO CAN I MAKE A AMENDMENT TO THE MOTION? JUST ADD IN THE CLARITY THAT A, THAT LAND ON THE COVE? WELL I GUESS CAN I FINISH? WELL YOU INTERRUPTED ME.
I WAS SAYING THAT THEY OWN ALL THIS LAND.
SO IT COULD BE THAT, IT MIGHT MAKE SENSE ONCE AN OVERPASS COMES IN THAT MAYBE THE POLICE STATION BECAUSE OF WHERE THE PASS IS, MAYBE THAT THEY WANT TO PUT IT ON THE, THE SOUTH SIDE OF THE RAILROAD TRACK 'CAUSE THEY GOT IT OVERPASS THE OTHER WAY.
AND TO SAY THAT IT HAS TO BE ON COTTONWOOD, IT JUST HAS TO BE ON EDC LAND.
LIKE THEY'RE GONNA ALLOCATE SOME, THAT'S ALL MY POINT.
BUT I WOULDN'T HAVE ANYTHING ON THE SOUTH SIDE.
SO WELL WE, WE DON'T KNOW THAT, TAKE THAT IN CONSIDERATION IS THAT WE DO PAY MIDWAY SIMPSON CONSIDERATION.
WELL, AND I UNDERSTAND WHAT YOU'RE SAYING.
COUNCIL MEMBER CLARK, I JUST HAVE ALWAYS UNDERSTOOD THAT IT WAS GOING TO BE COTTONWOOD PROPERTY THAT A LIBRARY, POLICE STATION, UH, PUBLIC WORKS BUILDING.
THAT'S WHAT EDC OR THAT'S WHAT THE CITY WAS REC CENTER, THAT'S WHAT, THAT'S WHAT WAS BEING LOOKED AT AS POTENTIAL FOR THESE SITES.
AND SO THAT'S WHAT I FEEL LIKE WE'VE HAD THOSE CONVERSATIONS ON THE EDC SIDE, JUST DISCUSSING COTTONWOOD PROPERTIES.
I WAS GONNA MAKE AN AMENDMENT TO SAY ON THE COTTONWOOD PROPERTIES YOU HAVE, UH, A CLEAR UNDERSTANDING THAT LAND WILL BE ALLOCATED FOR CITY PURPOSES TO BUILD THOSE STRUCTURES.
BUT IF WE WANT TO OPEN IT TO LAND THAT THE EDC OWNS, WE CAN DO THAT AND SOMEONE ELSE CAN, YOU KNOW, MAKE
[00:50:01]
THAT AMENDMENT.BUT TO MY UNDERSTANDING, WHAT WE'VE TALKED ABOUT ON THE EDC SIDE HAS JUST BEEN FOR COTTONWOOD PROPERTY.
IS THAT A MOTION? THAT'S WHAT I WOULD REQUEST.
I SECOND IT BECAUSE I DON'T SEE A LIBRARY GOING ON THE SOUTH SIDE OF RAILROAD TRACKS.
I DON'T SEE A POLICE STATION GOING ON THE SOUTH SIDE OF RAILROAD TRACKS.
UM, THAT'S AN INDUSTRIAL AREA.
AND SO I HAVE NO INTEREST IN HAVING A MUNICIPAL COMPLEX, A BUNCH OF 40 STORY BUILDINGS AND HIGH POWER TRANSMISSION LINES.
MY WHOLE UNDERSTANDING WAS WE WERE GONNA PUT ALL THAT UP THERE SOMEHOW TO BE FIGURED OUT BASICALLY ON THE NORTH SIDE.
KIND OF TUCK AWAY AT THE PEOPLE SAY EXACTLY.
UH, I WAS GONNA SAY THERE'S BEEN A LOT OF, UH, SUGGESTIONS AND AMENDMENTS TO MOTIONS.
IF WE CAN JUST CLARIFY AND UM, MAYBE WHAT WE CAN DO IS DIRECT STAFF AND LEGAL TO DRAFT THE APPROPRIATE STEVEN IS IT AMENDMENTS TO THE FUNDING AND REFUNDING AGREEMENTS BECAUSE THAT'S WHERE ALL THIS LIVES.
THERE'S A NUMBER OF FUNDING REFUNDING THREE AGREEMENTS.
RIGHT? I KNOW, BUT IS IT THE APPROPRIATE AMENDMENTS? IS THAT THE CORRECT TERM THAT WOULD NEED TO BE DRAFTED? THEY CAN GIVE BROAD DIRECTION.
SO THERE'S ONLY ONE ITEM, RIGHT? ASKING IF THAT'S THE CORRECT DOCUMENT.
IS IT AN AMENDMENT TO THE FUNDING AND REFUNDING AGREEMENT? I THINK IT MIGHT BE A NEW DOCUMENT THAT REPLACES ALL GRAVITY.
WHATEVER IT TAKES, IT'S SUPERSEDE.
THERE'S ONLY BEEN ONE AMENDMENT FIRST TWO.
BECAUSE I DID WORK BECAUSE I SAID I WAS OKAY WITH THAT.
OH, YOU'RE TALKING ABOUT
I WOULDN'T LIMIT IT TO JUST A, A SPECIFIC LIST BECAUSE I MEAN, REC CENTER'S ALSO BEEN CONTEMPLATED.
SO I DON'T KNOW IF YOU WANNA LIMIT IT TO A SPECIFIC LIST OF, OF UM, MUNICIPAL PURPOSES OR JUST SAY MUNICIPAL PURPOSES.
I MEAN, I DON'T KNOW THAT YOU WANNA LOCK IT DOWN 'CAUSE IT MAY CHANGE.
ARE YOU OKAY WITH INCLUDING BUT NOT LIMITED TO? I'M NOT BECAUSE I FEEL LIKE YOU'RE GETTING TO A POINT WHERE YOU'RE STARTING TO HANDICAP MIDWAY ON WHAT COULD POTENTIALLY BE BROUGHT IN.
THAT'S WHAT I'M WORRIED ABOUT.
I DON'T, I'M NOT DOING IT TO BE DIFFICULT.
I KNOW THAT WE WANT ALL OF THESE THINGS AND MAYBE THAT'S WHERE THE CONVERSATION STARTS TO VENTURE OUT.
WHAT OTHER LAND DOES THE EDC OWN THAT WE COULD START TO ACCOMMODATE CITY FACILITIES? 'CAUSE I THINK THAT'S, I MEAN, IF YOU DON'T HAVE THE FACILITIES, YOU'RE NOT GONNA HAVE THE RETAILER OR ANYTHING LIKE THAT.
SO I'M NOT OKAY WITH THAT BECAUSE WE NEED TO MAKE SURE THAT THOSE 41 ARE PRIORITIZED.
SO, BUT WE DON'T KNOW THAT THAT'S WHERE THE, WE WE'VE NEVER CONTEMPLATED PUBLIC WORKS OVER THERE.
I'VE NEVER HEARD ANYONE SAY PUBLIC WORKS OVER THERE.
SO I, I'M, I GUESS I'M CONFUSED AS TO WHY THAT GOT PULLED IN.
CAN I SUGGEST THAT WE, INSTEAD OF TRYING TO MAKE IT WIDE OPEN TO SAY TO JUST ADD IN OR OTHER FACILITIES AS DEEMED APPROPRIATE BY THE EDC AND THE MASTER DEVELOPER? I LIKE THAT, THAT WAY THAT'S REALLY THE BIG THING BECAUSE IF THEY WANNA PUT A LITTLE POCKET PARK OR SOMETHING, WE IT.
THAT'S THE ONE THREE, RIGHT? I JUST, WHATEVER WE DO, I JUST DIDN'T WANT I'M OKAY WITH THAT.
ANY MORE DISCUSSION ON THE AMENDMENT FOR THE MOTION FOR THE CITY COUNCIL? YEAH, WE GOT IT.
HEARING WE RECESS AND COME BACK IN, YOU KNOW, SO FOR THE AMENDMENT ONE, CALL THE VOTE.
MAYOR SNYDERS AND AYE SPELL? AYE.
AND THAT BRINGS US UP TO THE AMENDED MOTION TO ZERO OUT THE DEBTS, MEET QUARTERLY AND ADD IN LIBRARY PUBLIC WORKS, POLICE STATION WIRE TERROR, OR AS DEEMED APPROPRIATE BY THE EDC AND DEVELOPER.
ANY DISCUSSION ON THAT MOTION? HEARING NONE HOLD THE VOTE.
[00:55:01]
WE NEED TO ADD FROM THE COUNCIL SIDE? CHAIRMAN, MINUTES, FOUR MINUTES AND THEN I GOTTA RUN DOWNSTAIRS.I'LL MAKE A MOTION THAT THE EDC AGREE TO THE TERMS ESTABLISHED BY THE, UH, THE MOTION OF THE CITY COUNCIL CONDUCTED IN THIS MEETING, INCLUDING ALL DEBTS ARE CONSIDERED WHITED AND WE ARE EVEN STEVEN AIR QUOTES.
AND I WANT THAT IN THE MINUTES TRAINING.
UM, PAST THAT, UM, THE EDC WILL CONDUCT QUARTERLY MEETINGS AT A, AT A TIME TO BE SCHEDULED WITH CITY COUNCIL AND THEN BEYOND THAT, THE EDC WILL ALSO AGREE TO, UH, DONATE LAND, UH, FOR POLICE STATION, WATER TOWER, AND ANY OTHER FACILITIES THAT ARE APPROPRIATE.
UM, AND APPROVED OFF ON BY THE EDC AND THE MASTER DEVELOPER MIRRORING Y'S MOTION.
ALRIGHT, WE HAVE A MOTION BY CHAIR CARL, AND SECOND BY VICE CHAIR LUCAS.
SARAH CHANEY, CHAIR AS AN AYE.
UH, AND THEN, UH, BOARD MEMBER OWEN OR SUE THOMPSON.
MOTION PASSES FOR FROM THE A DC AND WITH NO OTHER ITEMS ON THE EBC SIDE.
WE ARE READY TO ADJOURN AT SIX 50.