[00:00:03]
[(EDC) Board Meeting/(CDC) Board Meeting on July 14. 2025]
SIX 30 AND I CALL THIS REGULARLY SCHEDULED HEAD OF ECONOMIC ECONOMIC DEVELOPMENT CORPORATION.TYPE A AND TYPE B, BOARD OF DIRECTOR MEETING TO ORDER ROLL CALL PLEASE.
PRESENT BOARD MEMBER MCLAUGHLIN.
BOARD MEMBER PORTERFIELD HERE.
WE DO HAVE A QUORUM ONTO 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, INDIVISIBLE, LIBERTY AND JUSTICE FOR ALL.
HONOR THE TEXAS FLAG, OUR PLEDGE ALLEGIANCE TO THE TEXAS ONE STATE UNDER GOD.
ALRIGHT, UH, ONTO PUBLIC COMMENT.
DO WE HAVE ANYONE SIGNED UP? NO, SIR.
UH, ONTO FIVE ONE, UH, WHICH IS DISCUSS AND CONSIDER A PRESENTATION FROM ENDEAVOR REAL ESTATE GROUP REGARDING PROJECT SPROUTS.
CHAIR, MAY I ASK FOR JUST A BRIEF RECESS? I NEED TO SET THE, UM, RECORDING.
IT'S NOT STREAMING, SO I JUST NEED TO GO PRESS A COUPLE BUTTONS BACK THERE REAL QUICK.
I'M JUST TRYING TO BUILD SUSPENSE FOR YOU, ADAM.
NOW WHAT'S THAT FOR? ANY RECESS? WHO EVER'S AT THE PODIUM MUST PROVIDE YOU
ALRIGHT, SO WE GO CHANEY, WE CAN DO CALM.
WELL, IT'S NOT, I DON'T RECORDING STREAMING, IS IT? YEAH.
I JUST WANTED TO MAKE SURE, 'CAUSE WE'VE BEEN HAVING SOME ISSUES WITH OUR RECORDING AND STREAMING, SO I JUST WANTED TO MAKE SURE THAT WE ARE ALL SET.
JUST FOR YOUR RECORDS TRAINING, WE WENT INTO RECESS AT 6 31.
I FAILED TO INDICATE THAT TIME AND I'LL SAY WE'RE BACK AT 6 34.
ALRIGHT, IF I WANT ADD, LET'S GO.
THANK YOU FOR ALLOWING US, UH, TIME TO SPEAK.
I WANTED TO PRESENT, HOPEFULLY YOU GUYS HAVE HAD A CHANCE TO REVIEW, UH, THE PACKAGE THAT WE, THAT WE PASSED ALONG.
UH, I WANTED TO RUN THROUGH A LITTLE BIT OF THE BACKGROUND, SOME SPECIFICS ON, UH, THE SPECIFIC SITE AND THEN THE REASON WHY WE'RE MAKING THE REQUEST THAT WE ARE.
COULD YOU SPEAK UP JUST A TAD, PLEASE? YES, MA'AM.
SO THIS MAP THAT WE HAVE RIGHT HERE, UH, WE'RE WORKING ON A RETAIL DEVELOPMENT AT THE NORTHEAST CORNER OF HIGHWAY 79 AND ONE 30.
WE USE THESE FOR OUR MARKETING MATERIALS, JUST KINDA SHOWING GROWTH FOR THE CITY OF HUDA AS WE'RE, AS WE'RE TALKING THROUGH, UH, LOCATION WITH, WITH, UM, IN THIS CASE A GROCERY USER SPROUTS.
AND SO, UM, WE CAN GO TO THE NEXT PAGE.
[00:05:01]
IS WHERE THE LOCATION IS.AND THEN TAKING, ZOOMING IN A LITTLE BIT FURTHER, YOU CAN SEE IT THERE.
SO WE'RE SOUTH OF THE FUTURE PENSKE AUTO, UH, DEALERSHIP, AND THEN WE'RE JUST WEST OF WHAT I BELIEVE IS THE FUTURE DATA CENTER.
SO A LITTLE BIT ON 79, PRIMARILY FRONTING ON HIGHWAY ONE 30.
THIS LOOKS BACK TO THE EAST, SO YOU CAN SEE ONE 30 DIRECTLY IN FRONT.
AND HIGHWAY 79 ON THE RIGHT SIDE THERE.
UM, WHAT WE ARE PROPOSING IS ON ROUGHLY 14 ACRES AND, UH, OUR LEAD TENANT IS SPROUT'S, UH, FARMER'S MARKET.
WE'VE BEEN WORKING WITH THEM, UM, IN THIS AREA FOR THE LAST NINE MONTHS OR SO.
AND OBVIOUSLY, UM, YOU KNOW, WE KNOW AND, AND HAVE BEEN INVOLVED IN OTHER PROJECTS WITHIN HUDU.
TAKEN A STEP BACK, WE DEVELOPED HANSON'S CORNER 20 SOME ODD YEARS AGO WHERE HOME DEPOT IS, AND WE'VE SLOWLY BEEN WORKING THROUGH OUR FINAL PARCELS OVER ON THAT, THAT PIECE OF LAND.
AND THEN WE'RE NOW WORKING, WORKING ON THIS ONE RIGHT HERE.
SO SPROUTS HAS SHOWN, UM, ON THAT BOX, THEY'RE KIND OF ON THE NORTHERN SIDE, FRONTING HIGHWAY ONE 30.
ONE THING THAT WE HAVE CONTINUED TO HEAR, UM, IS, IS GROCERY IS A MUCH NEEDED, UH, USE IN THESE AREAS.
SO WE'RE HOPING TO, UH, OVERCOME THAT, THAT LIMITATION.
SO THIS IS THE SITE PLAN AND, AND I REALIZE I'M TURNING YOU IN ALL SORTS OF DIRECTIONS RIGHT NOW.
SO ON THAT TOP SIDE IS HIGHWAY, UH, IS SH ONE 30.
ON THE LEFT SIDE IS HIGHWAY 79.
SO IF YOU CAN, CAN SEE THERE, UM, MARKET IS WHAT IT'S LISTED AS.
AND THAT WOULD BE WHERE SPROUTS IS LOCATED.
UH, OUR PLAN AT THIS POINT WOULD BE TO CONSTRUCT EVERYTHING FROM THE SPROUTS TO THE LEFT UNTIL YOU SEE THE, WHAT WE CALL THE CONNECTOR ROAD LABELED DRIVE.
AND SO THAT WOULD ALL BE, UM, PART OF WHAT WE'RE PROPOSING TO CONSTRUCT.
SO THE INVESTMENT WILL EXCEED $28 MILLION IN TOTAL COSTS.
SO THAT'S INCLUSIVE OF BOTH THE SITE WORK, SO THE HORIZONTAL WORK AS WELL AS THE VERTICAL WORK.
AND UH, OBVIOUSLY THE ANCHOR BEING SPROUTS, FARMER'S MARKET.
AND WHAT WE PLAN ON DELIVERING IS THAT SPROUTS AND THEN 24,000 SQUARE FEET, A LITTLE MORE THAN 24,000 SQUARE FEET OF MULTI-TENANT SPACE.
SO WE ENVISION THAT A LOT OF, OF THE TENANTS WHO ARE ACTIVE THESE DAYS ARE SERVICE AND RESTAURANTS.
AND WE OBVIOUSLY HERE AND TALKING TO CHENEY, YOU KNOW, RESTAURANTS ARE, ARE MUCH NEEDED, UM, OUT THIS WAY.
CHENEY, IF YOU WOULDN'T MIND GOING BACK TO THAT PRIOR SITE PLAN, I PROBABLY SHOULD HAVE POINTED OUT OF SHOPS ONE AND SHOPS TWO ARE THOSE TWO MULTI-TENANT BUILDINGS THAT WILL CONSTRUCT SIMULTANEOUSLY WITH SPROUTS.
SO THE GRANT REQUEST THAT BROUGHT US HERE TODAY, UH, IS FOR $875,000.
WE HAVE STRUCTURED IT SIMILAR.
UM, IT WAS RECOMMENDED TO US TO CONSIDER WHAT WAS DONE MOST RECENTLY.
THE LAST RETAIL INCENTIVE, I BELIEVE WAS FOR NEWQUEST STEEL.
AND IT WAS STRUCTURED IN THREE DIFFERENT TRANCHES.
GIVEN IT'S A GRANT, UM, WE RECOGNIZE DOLLARS ARE LIMITED AND SO WE'RE STRUCTURING IT WITH THE CERTIFICATE OF OCCUPANCY FOR THE SPROUTS BUILDING WOULD BE THE PAYMENT OF, OF THE PAYMENT NUMBER ONE 350,000.
AGAIN, WE'RE DELIVERING TWO ADDITIONAL BUILDINGS, SO WE'RE STRUCTURING IT AS 12,000 SQUARE FEET IN THE SECOND BUILDING THAT WE DELIVER, UH, A MINIMUM OF 12 MONTHS LATER WILL BE PAYMENT NUMBER TWO.
AND THEN DELIVERING 12,000 SQUARE FEET FOR THE THIRD MULTI-TENANT BUILDING WILL BE THE BALANCE.
AND, UM, I GUESS TO GIVE A LITTLE BIT OF BACKGROUND, THIS ISN'T PROBABLY THE FIRST TIME.
UM, THIS IS NOT THE FIRST TIME IN CENTRAL TEXAS RECENTLY THAT THIS HAS BEEN ASKED FOR SPECIFICALLY BOTH REGARDING THIS TYPE OF USE AND THIS SPECIFIC TENANT.
SO, UM, WE DON'T COME HERE WITH A, WITH A HANDOUT EXPECTING IT.
UM, WE'RE ASKING, UH, THE GROCERY INDUSTRY IS, YOU KNOW, A MARGIN BUSINESS.
IT'S PRETTY TIGHT AND THAT EXTENDS TO WHAT THEY'RE WILLING TO PAY AND WHAT THEY EXPECT THE DEVELOPER TO DELIVER.
AND SO WE'VE BEEN VERY UPFRONT WITH, WITH THE LAND SELLER WHO WE'VE TRANSACTED WITH IN THE LAST 18 MONTHS, THAT IF WE DON'T GET THIS INCENTIVE, UM, WE'RE GONNA BE DROPPING THE CONTRACT THAT WE HAVE WITH HIM.
THE INCENTIVE IS NECESSARY FOR US TO MAKE A VIABLE
[00:10:01]
PROJECT FOR THIS SPECIFIC USER.UM, SO AGAIN, THE ASK FOR THE 8 75 IS TIED SPECIFICALLY TO SPROUTS.
WE HAVE ADDED THE TWO OTHER BUILDINGS BECAUSE, UM, YOU KNOW, MATCHING THE STRUCTURE OF WHAT YOU GUYS HAVE DONE FOR, FOR NEWQUEST MOST RECENTLY.
UH, SECOND THE SALES TAX REIMBURSEMENT.
SO WHAT WE'RE PROPOSING IS GIVEN THE CITY WOULD BE PAYING OUT THE GRANT FOR YEARS ONE, TWO, AND THREE, WE'RE ASKING FOR SALES TAX TO START IN YEAR FOUR GOING THROUGH YEAR 10, IT WOULD APPLY FOR THE ENTIRE 13.84 ACRES FOR ALL THE USES, UM, FROM WHEN THEY'RE OBVIOUSLY, UM, UH, OPEN OPERATING AND, AND PUSHING OUT REVENUE.
UH, WE'RE PROPOSING 50% OF THE SALES TAXES FOR YEARS FOUR THROUGH 10, UM, GO TO ENDEAVOR.
AND THEN 50% OBVIOUSLY TO THE CITY OF WHICH I BELIEVE IT'S ABOUT 1.2% YEP.
UM, I THINK, UH, I WANNA NOTE A COUPLE DIFFERENT THINGS HERE.
UM, BECAUSE I'VE HAD A FEW CONVERSATIONS WITH FOLKS.
I GUESS WE'VE HAD CONVERSATIONS WITH, WITH ALL THE FOLKS ON CITY COUNCIL PREPPING THEM FOR WHAT THIS ASK WAS GONNA BE.
AND WE NOW HAVE OUR COSTS DIALED IN.
UM, AT, AT THE INITIAL PART OF THIS PROJECT WE WERE WORKING WITH ANOTHER ANCHOR ON THE NORTHERN SIDE TO THE NORTH OF, OF SPROUTS.
THAT DEAL HAS SINCE, UM, FALLEN THROUGH.
AND SO, UM, WHILE AT ONE POINT IT WASN'T A MUST HAVE, I HESITATE CALLING ANYTHING A MUST HAVE THE GRANT, I WOULD DEFINITELY PUT IN THAT CATEGORY.
UM, WE'RE TRYING TO BRIDGE THE GAP WITH OUR NUMBERS AND SO THAT IS THE REASON FOR THE ASK.
WE HAVE SPOKEN TO CHENEY AND AGAIN, HEARD FROM OTHERS THAT FULL SERVICE RESTAURANTS LIKE JACK ALLEN'S, YOU HAVE RIGHT BACK HERE AND CHEW THAT JUST OPEN, ARE VERY MUCH, UM, DESIRABLE.
AND I REALIZED THERE ARE SPECIFIC CATEGORIES, YOU KNOW, THAT ARE DESIRED.
AND I TOLD CHANEY, WHILE AS MUCH AS WE'D LOVE TO BRING SPECIFIC USERS HERE, WE DON'T MAKE THE MARKET.
BUT WHAT WE DO, WE THINK, WE THINK WE DO A PRETTY GOOD JOB OF IS TELLING THE MARKET WHY THEY SHOULD BE HERE AND LETTING THE MARKET REACT TO WHO CAN SHOW UP.
SO WE ARE WILLING TO MAKE A COMMITMENT FOR SALES TAX, UM, TO, TO, UH, BRING IN A FULL SERVICE RESTAURANT TO THIS PROJECT.
AND SO WE THINK THAT WILL, THAT WILL ALLOW US TO MAKE A, YOU KNOW, COMMITMENT AND GET MORE AGGRESSIVE WITH THOSE GUYS, UM, AND REALLY GO AFTER THAT TYPE OF USE.
SO FINALLY DOWN AT THE BOTTOM YOU CAN SEE THE ESTIMATED TAX REVENUE TO THE CITY OVER 10 YEARS, UH, BOTH FOR AD VALOREM AND SALES TAX.
AD VALOREM EQUATES TO ABOUT 5.9 MILLION AND SALES TAX REVENUE IS ABOUT 1.1 MILLION IN TOTAL.
WE'RE ESTIMATING AND WE THINK WE'RE BEING VERY CONSERVATIVE WITH WHAT WE'RE ESTIMATING ABOUT $1.8 MILLION OF SALES TAX REVENUE OVER THE, THE, UM, UH, YEARS FOUR THROUGH 10.
AND SO WE PROVIDED OUR UNDERWRITING TO CHENEY, WHO'S, WHO'S, UM, I THINK YOU GUYS HAVE RUN YOUR OWN UNDERWRITING, PUT IT IN YOUR OWN FORM.
YEAH, I'VE SHARED IT WITH THEM TOO.
FOR CONFIDENTIAL, I GET IT FILES, I GET IT FOR SURE.
YOU WANNA FOR SURE PUT THAT UP HERE WITHOUT PERMISSION.
SO BETWEEN THE TWO ASKS, UH, YOU KNOW, IT'S ABOUT 1.55 MILLION.
IT'S ABOUT 22% OF WHAT WE PROJECT OVER, UM, THAT 10 YEAR PERIOD BETWEEN AVALOR AND SALES TAX REVENUE.
AND I'M HOPING I CAN ANSWER ANY QUESTIONS, COMMENTS YOU GUYS MIGHT HAVE.
YOU'RE FREE TO ASK ANY QUESTION FREE TO GO.
YOU SAID, UH, FOR PAYMENT TWO, YOU SAID A MINIMUM OF 12 MONTHS.
IS THERE A MAXIMUM, UM, THAT YOU GUYS ARE LOOKING FOR, FOR BUILDING OUT, UM, I GUESS PHASE TWO AND THREE OF PART ONE? I MEAN, WE'RE GONNA DO IT ALL AT THE SAME TIME MM-HMM
UM, FROM THE EFFICIENCIES, THE TWO OTHER PERSPECTIVE, UH, THEY, ALL THREE OF BUILDINGS ARE SUPPOSED TO GO UP AT THE SAME TIME.
YEAH, I JUST HEARD YOU SAY MINIMUM AND NOT MAXIMUM.
SO WE PUT A MINIMUM, JUST SO YOU KNOW, THAT WE'RE NOT EXPECTING PAYMENT, UM, SOONER THAN 12 MONTHS AFTER THE PRIOR PAYMENT.
THAT WAS BASED ON PAYMENT, BOTH PAYMENT TWO AND PAYMENT THREE.
UM, YOU SAID YOU WERE WORKING WITH ANOTHER ANCHOR, BUT THAT DEAL FELL THROUGH WHAT I, I MISSED THE DIRECTION.
WHICH SIDE OF THE COMPLEX WAS THAT ON SHOW CHAIN? IF YOU GO BACK TO THE RIGHT.
THE USER THAT WAS RIGHT THERE.
AND SO ARE YOU LOOKING TO, IT SAYS FITNESS.
ARE YOU LOOKING TO, TO DO THAT SAME SORT OF, UM, USER, YOU KNOW, ANCHOR THERE OR
[00:15:01]
WE WOULD, WE WOULD ABSOLUTELY CONSIDER THAT.UM, YOU KNOW, WE'RE ALWAYS TRYING TO FIGURE OUT, UH, I THINK I'VE SPOKEN TO SOME FOLKS AND YOU KNOW, WE'RE SITE PLAN EIGHT RIGHT HERE.
BY THE TIME WE FINISH A PROJECT, WE'LL BE ON SITE PLAN 50 FOR A PROJECT LIKE THIS.
AND SO WHAT WE KNOW IS OBVIOUSLY SPROUT'S KICKING US OFF, USERS LOVE TO BE AROUND GROCERY BECAUSE IT'S A DAILY DRIVER.
AND SO WHO ENDS UP SHOWING UP AT THE END OF THE DAY? I COULDN'T TELL YOU.
YOU KNOW, THAT, THAT IF WE CAN GET INCENTIVES, WE PUSH REALLY HARD FOR FULL SERVICE RESTAURANT, FOR INSTANCE, AND FOR SHOPS ONE AND SHOPS TWO, I THINK THEY WILL AGAIN PREDOMINANTLY BE SERVICE-BASED USERS AND, AND PROBABLY MORE FAST CASUAL TYPE USERS.
UM, CHANEY, IF YOU CAN GO TO THE NEXT SLIDE THAT SHOWS THE, WHERE WE WERE AT MM-HMM
UM, SO I, I DO APPRECIATE THE, THE, THE, I GUESS THE PHASED APPROACH SO YOU'RE NOT GETTING IT ALL IN ONE LUMP OR, UH, WHATEVER, YOU KNOW, UM, PAYING IT OUT SO THAT YOU HAVE, YOU KNOW, TARGETS TO MEET.
UM, TO COLLECT THAT, COLLECT THAT CHECK.
UM, THE SALES TAX REIMBURSEMENT 50%, I DON'T KNOW THAT I NECESSARILY HAVE A PROBLEM WITH THAT.
UM, I WILL SAY IN THE FIRST THREE YEARS THERE'S PROBABLY NOT THAT MUCH SALES TAX TO GAIN MM-HMM
UH, WHICH IS PROBABLY WHY Y'ALL PICKED FOUR THROUGH 10, UM, BECAUSE THAT WAS WHERE THE, THE BIGGEST CHUNK WAS GONNA COME FROM.
UM, I'LL HAVE TO CHEW ON THAT A LITTLE BIT, JUST ME PERSONALLY.
WE ESTIMATE YEAR ONE IS A PARTIAL YEAR.
SO YEAR THREE WE ESTIMATE A HUNDRED PERCENT AND THEN WE CARRY OUT MM-HMM
AN ESCALATOR OF TWO AND A HALF PERCENT PER YEAR FROM THERE.
AND AGAIN, WE THINK WE'RE CONSERVATIVE WITH WHAT WE'RE UNDERWRITING.
AND I BELIEVE IN OUR DOCUMENT WE'VE GOT A MINIMUM OF $10 MILLION IN, UM, TAXABLE SALES.
YOUR, UH, AGREEMENT THAT YOU HAVE WITH, UM, SPROUTS MM-HMM
UM, ARE THEY ON A TIMELINE WHERE, YOU KNOW, THEY WANNA BE IN THE PROJECT VERSUS WHEN THEY WILL NO LONGER WANT TO BE IN THE PROJECT? YEAH, WE'VE GOT COMMITMENTS WE MAKE TO THEM THAT WE HAVE TO GO LIVE BY.
AND SO AT THIS POINT WE'RE SHOOTING FOR THE END OF 2027 FOR DELIVERY AND OPENING.
AND SO WE'VE BEEN WORKING OBVIOUSLY WITH, WITH, UM, ASHLEY AND HER TEAM AND MATT RECTOR AND HIS TEAM MM-HMM
AND, UH, HAVE OUR TIMELINES TOGETHER AND THEY, THEY HOLD THE FEET TO THE FIRE.
SO, YOU KNOW, I THINK THE CITY RESIDENT WILL WANT TO SEE IT SOONER AND WILL WANT TO GET IT ON THE GROUND AS FAST AS WE CAN IN, YOU KNOW, WORST CASE SCENARIO, YOU KNOW, SPROUTS ISN'T THE ONE FOR THAT SPACE.
IS IT STILL THE FOCUS TO HAVE A GROCER THERE? UH, I MEAN WE'RE TIED IN WITH SPROUTS AT THIS POINT.
I'M A LITTLE NEW, SO I'M TRYING TO UNDERSTAND THE BACKGROUND A LITTLE MORE.
SO THE, SO THE ASK IS TIED SPECIFICALLY TO SPROUTS.
SO MY CURIOSITY IS, UM, SPROUTS IS IN A NUMBER OF LOCATIONS.
AND SO HAVE YOU LOOKED AT THOSE LOCATIONS THAT HAVE BEEN ESTABLISHED FOR A FEW, FEW YEARS ALREADY? WHAT OTHER STORES ARE CLUSTERED AROUND IT THAT HAVE PROVED SUCCESSFUL? YEAH, THEY HAVE, UM, THE CLOSEST LOCATION IS IN ROUND ROCK OFF OF I 35 AND SIX 20 IN WHICH THEY TOOK A PORTION OF A FORMER ALBERTSONS, SO IT WAS GROCERY PREVIOUS TO THAT.
AND SO AT THAT PROJECT IT'S EVERYTHING FROM, YOU KNOW, COFFEE.
THEY'VE GOT A FEW DIFFERENT FOOD USERS.
UM, I THINK THEY HAVE VET IN THERE, THEY'VE GOT JEWELRY, VITAMINS.
YEAH, YOU MIGHT, THEY HAVE THAT COUNTRY, OH, WHAT IS IT CALLED? COUNTRY KITCHEN OR, OH, YOU'RE TALKING ABOUT SPECIFICALLY TWO SPROUTS? MM-HMM
I MEAN, WHAT YOU SEE, THEIR LATEST PROTOTYPE THAT THEY JUST OPENED UP WAS DOWN AT, UH, MUELLER.
THE MUELLER DEVELOPMENT AT I 35 AND 51ST STREET.
I MEAN, THEY'RE A FULL SERVICE GROCER AND YOU KNOW, SO YOU CAN GO, YOU KNOW, IT'S A ONE STOP SHOP IF YOU WANT TO.
UM, YOU KNOW, IT'S REALLY DEPENDS ON THE CONSUMER HABITS WHERE THEY SHOP AND UM, BUT OFFERING SOMETHING NORTH OF HIGHWAY 79 TO ALL RESIDENTS I THINK IS A MISSING.
UM, IT'S GONNA BE A FULL SERVICE, UH, GROCER.
YEAH, I WAS THINKING MORE ABOUT THE STORES AROUND IT AND, AND THE STORES.
THE STORES AROUND IT, I THINK WILL BE FAST CASUAL RESTAURANTS.
THE SERVICE USERS THAT, THAT WE'RE SEEING REAL ACTIVE RIGHT NOW, UM, IS EVERYTHING FROM, UM, YOU KNOW, SALONS OR HAIR TO DENTAL TO, YOU KNOW, NAILS, ANYTHING THAT'S A DAILY DRIVER THAT LIKES TO PLAY OFF OF PROXIMITY TO A DAILY DRIVER.
AND SO YOU USE THE DATA THAT HAS BEEN GATHERED AT TIMES PAST OF THOSE SPROUT LOCATIONS THAT HAVE BEEN SUCCESSFUL.
[00:20:01]
ONE OTHER PROJECT FOR THEM CURRENTLY IN THE MARKET RIGHT NOW, AND WE'RE SET TO KICK OFF CONSTRUCTION THERE IN ABOUT 60 DAYS.AND WE'VE BEEN IN THE MARKET LONGER TO GO LEASE.
AND SO YEAH, WE'VE, I, I THINK I DID PROVIDE THAT SITE PLAN, YOU KNOW, AND YOU COULD LOOK AT EXAMPLES OF OF WHO'S SHOWING UP FOR PROJECTS LIKE THAT.
IT'LL BE VERY CONSISTENT, I THINK WITH, WITH WHAT'S HAPPENING.
WELL, WITH ALL THAT YOUR HEALTH AND, YOU KNOW, EATING CLEAN AND THAT POPULARITY, THE TREND IS THOSE TYPES OF STORES ARE VERY, UH, MUCH IN DEMAND.
AND, AND I THINK THE INCOMES, THEY'RE LOOKING FOR INCOME SIMILAR TO WHAT HUTTO HAS TO OFFER AND I THINK THERE'S, IT, IT MIRRORS UP WITH WHAT THE CONSUMER WANTS IN THIS AREA.
AND JUST TO CLARIFY, UM, EVERYTHING FROM MARKET TO THE STREET LABELED DRIVE IS WHAT YOU'LL BE CONSTRUCTING? OR JUST THE THREE BUILDINGS MINUS THE PAD? UM, WE'LL GO CONSTRUCT EVERYTHING.
UH, I THINK THAT'S PAD F MY EYESIGHT'S NOT THAT GREAT.
BUT PAD F WE WILL NOT CONSTRUCT THAT BUILDING THE RESERVE THAT FOR WE WILL.
WE WILL CONSTRUCT EVERYTHING UP TO THE BUILDABLE PAD OKAY.
THOSE WOULD BE A DIFFERENT PHASE MM-HMM
WE'LL, WE'LL GO ALL AT THE SAME TIME, INCLUDING THE, WHERE IT SAYS FITNESS, UM, WE'LL DO HORIZONTAL CONSTRUCTION THERE UNLESS WE KNOW YOU KNOW EXACTLY WHO IT'S GONNA BE AND DEPENDS ON WHAT OUR SCOPE IS.
GENERALLY FOR THOSE USERS, WE WILL GO, UM, GRADE ALL THE DIRT, WE'LL PUT IN THE DETENTION FOR DRAINAGE AND WE'LL BRING UTILITIES TO THOSE SITES.
AND THEN THE TENANTS WILL TYPICALLY CONSTRUCT THE BUILDINGS.
SO, WE'LL, WE WILL GO MOBILIZE ON THE ENTIRE SITE AT ONE TIME IN TERMS OF WHAT WE'VE VERTICALLY BUILT, IT'LL BE THOSE THREE BUILDINGS.
DO YOU HAVE PLANS TO, UH, SPEC OUT ANY SPACE IN THOSE 12,000 SQUARE FOOT BUILDINGS? SO WHAT ALREADY ED BY YEAR SO STRUCTURED THAT WE, UM, ALWAYS DO WITH TENANTS IS WE'LL GO, WE'LL GO DELIVER THE BUILDING AND THEN EACH TENANT'S SO DIFFERENT IN TERMS OF WHAT THEY DO.
WE'LL GIVE 'EM AN ALLOWANCE TO GO BUILD WHAT THEY WANT TO BUILD.
ARE YOU ASKING IF THEY ALREADY HAVE LIKE, UM, UM, WOULD THEY DEMISE SPACE, YOU KNOW YEAH.
AN IDEA OF WHO THEY WANT IN THERE, LIKE THE TYPE OF BUSINESS? WELL, SOMETIMES OR MAKE LIKE HOW MANY DENTISTS ARE YOU GONNA PUT IN THERE? SAY THAT AGAIN.
HOW MANY DENTISTS ARE YOU GONNA PUT IN THERE? I THINK WHAT SHE'S ASKING THAT'S RHETORICAL.
I'M JUST DENTIST AND MATTRESS.
THAT'S WHAT ALL THE CITIES LIKE TO TALK ABOUT.
I THINK WHAT SHE'S ASKING IS LIKE, ARE THEY GONNA SPEC IT OUT? LIKE THIS ONE HAS THIS MAC SQUARE FEET, THIS ONE HAS OH, I SEE.
WITH DEMISING MALLS, OR ARE THEY JUST GONNA LEAVE IT OPEN THAT WAY? ANY TYPE SEPARATE AS NEEDED.
CAN COME IN AND THEN THEY'LL SEPARATE IT AS NEEDED.
I MEAN, WE'RE JUST SEEING, NOT TO REPEAT MYSELF, YOU KNOW, AGAIN, BUT IT'S, UM, LIKE THE, THE FOOD USERS ARE VERY ACTIVE MM-HMM
AND I THINK YOU WILL FIND FOOD USERS SHOWING UP, UP FOR BOTH OF THESE BUILDINGS, UM, JUST BECAUSE IT'S ONE OF THE MOST ACTIVE CATEGORIES.
AND, AND THOSE GUYS ALL HAVE DIFFERENT REQUIREMENTS IN TERMS OF MM-HMM
AND THOSE WILL HAVE MAYBE A SHARED GREASE TRAP TO BEGIN WITH SO THAT YOU CAN FOR THAT OR THEY'LL, THEY WILL HAVE THEIR OWN GREASE TRAPS.
OH, GOT LOTS OF FOOD TRUCKS IN AND HU LOOKING FOR SPACE, SO COME ON, BRING THEM ON.
CANDIDATES ALREADY, WE'LL PUT 'EM IN BUSINESS
SO THAT WOULD BE REALLY ENGAGING THE CULTURE.
I MEAN, THERE ARE SOME FOOD TRUCK CAMPS AND THERE ARE SOME FOOD, UH, TRUCK.
SO, SO I, I DO THINK WE'RE ALIGNED WHEN WE MAKE THE ASK FROM, YOU KNOW, SALES SHARING AND SALES TAX REVENUE.
IT'S INCUMBENT ON US TO FIND THE BEST USERS POSSIBLE.
'CAUSE THE BEST USERS ARE GONNA DRIVE MORE TRAFFIC.
AND WHEN THAT HAPPENS, THERE'S MORE CROSS SHOPPING THAT HAPPENS.
AND SO WE'RE ALIGNED IN THE INCENTIVE TO FIGURE OUT WHO THOSE USERS ARE AND WHO'S GONNA MAXIMIZE UH, SPENDING.
HOPEFULLY IT DRIVES, IT GIVES EVERYONE, YOU KNOW, A REASON TO GO ON OVER THERE FOR MULTIPLE REASONS.
ANYTHING ELSE FROM THE BOARD? UM, THIS MIGHT BE SOMETHING THAT CAN'T BE NECESSARILY DISCUSSED IN A PUBLIC SETTING, BUT, AND IT, I MEAN, YOU CAN PASS THE INFORMATION ALONG TO CHENEY IF IT NEEDS TO BE CONFIDENTIAL FROM SPROUTS.
I JUST, I DO SALES TAX FOR A LIVING MM-HMM
UM, AND KNOWING THAT A GROCERY STORE, GENERALLY
[00:25:01]
SPEAKING DOES NOT GENERATE SALES TAX REVENUE OUTSIDE OF PREPARED FOODS AND OTHER ODDS AND ENDS, YOU KNOW, HARD GOOD TYPE ITEMS. UM, SEEING $2.3 MILLION ON THERE PER YEAR SEEMS HIGH FOR A, YOU KNOW, RETAILER THAT DOESN'T GENERATE MUCH IN SALES TAX.SO I WOULD, I JUST, I I QUESTION THAT NUMBER A LITTLE BIT.
NOT SAYING THAT ANYTHING'S NECESSARILY WRONG WITH IT.
BUT IT JUST SEEMS HIGH AND IT'S, YOU KNOW, WHEN YOU LOOK AT ALL THESE NUMBERS, YOU KNOW, 'CAUSE LIKE YOU HAVE A, A GROCERY STORE THAT'S GONNA BE GENERATING, ACCORDING TO Y'ALL'S ESTIMATES, $2.3 MILLION PER YEAR.
YET YOU HAVE PAD ONE, WHICH THAT ISN'T, IS THAT PAD A, I GUESS IN THIS AREA WE LUMP, WE LUMP, UH, TWO PADS IN THERE AND COLLECTIVELY BETWEEN THE TWO, IT'S FOUR AND A HALF MILLION DOLLARS.
'CAUSE SOME OF THOSE SEEM, IT'S, IT'S, I DON'T KNOW IF THERE'S AN IMBALANCE IN THAT, THAT, THAT'S MY OPINION.
JUST LOOKING AT IT JUST SEEMS HIGH.
WHAT WE DO, WE OBVIOUSLY DON'T GET THE LOOK OF THE BOOKS OF EXACTLY, YOU KNOW, OF THE GROCER, BUT THEY DO GENERALLY KNOW WHAT IS NON-PERISHABLE.
UM, AND, UH, FOR SPROUTS SPECIFICALLY, IT'S 13 TO 15%.
AND SO THAT'S HOW WE CALCULATED THEIR NUMBER BASED ON THEIR PROJECTED REVENUE FOR THE STORE.
UH, I GUESS THE ONLY OTHER THING THAT I HAVE THAT IS MORE, THIS IS NOT SO MUCH EDC IN A TYPICAL SENSE, BUT I GUESS WHAT IS FOR A PROJECT LIKE THIS, WHAT'S THE TRAFFIC CONTROL PLAN? BECAUSE YOU KNOW, THAT INTERSECTION AT, UH, KEN ROWE 1 0 8 AND THAT ACCESS DRIVE THAT YEAH.
WHATEVER YOU WANNA CALL IT YEP.
UM, IS ALREADY AN INCREDIBLE CHALLENGE.
AND THEN YOU ALSO HAVE THE, UH, WHAT WILL BE THE WESTBOUND, UH, FRONTAGE FOR ONE OR TO GET ONTO ONE 30.
UM, THAT AREA BECOMES VERY CHAOTIC DEPENDING ON THE TIME OF DAY.
SO I GUESS WHAT, WHAT IS THE PLAN THERE FOR THAT? YEAH, SO CITY MANAGES INNOVATION, UH, C 1 0 8.
AND SO WE'RE STARTING THAT PROCESS WITH MATT RIGHT NOW.
SO WE'RE, WE'VE ENGAGED, KIMLEY HORN IS OUR CIVIL ENGINEER, TDOT IS, UH, SH ONE 30 MM-HMM
AND SO WE'VE STARTED THAT CONVERSATION.
UM, OBVIOUSLY WE'VE GOT OUR IMPACT FEES TIED TO WHAT WE ARE DELIVERING.
AND, UM, AND SO WE'RE WORKING THROUGH THE TIA PROCESS RIGHT NOW.
WE'RE, WE'RE EARLY IN THE PROCESS.
AGAIN, THE IDEA WAS TO GET OUT IN FRONT OF IT BECAUSE WE DON'T WANNA GO SPEND, YOU KNOW, A TON OF DOLLARS BEFORE KNOWN IF WE'RE GONNA BE ABLE TO GET THE INCENTIVE DONE OR NOT.
AND SO WE, WE HAVE, UM, UH, WE'RE WORKING THROUGH THAT AND THOSE, THE TIA IS PROBABLY THE LONGEST LEAD TIME OF THE ENTIRE THING.
AND THE ENTIRE DEVELOPMENT PROCESS, BECAUSE I GUESS WHAT IS Y'ALL'S PLAN WITH RESPECT TO? I MEAN, IF, IF IT, IF IT'S YOUR IDEAL SCENARIO, YOU KNOW, A DEVELOPER WANTS, YOU KNOW, A LIGHT NEAR A GROCERY STORE OR HIGH, YOU KNOW, ACCESS POINT, YOU KNOW, FOR THEM IT'S LIKE, WHAT IS Y'ALL'S PLAN FOR THAT IN THE END? I GUESS WITH RESPECT TO ALL OF THAT? 'CAUSE TRAFFIC IS A HUGE PROBLEM IN HOW, THOUGH, THAT'S THE ONLY REASON WHY I BRING IT UP.
SO CAN YOU SAY THE QUESTION ONE MORE TIME? JUST LIKE, WHAT, WHAT'S THE OVERALL PLAN? LIKE, ARE Y'ALL TRYING, LIKE, IF, IF ENDEAVOR HAS ITS WAY WITH RESPECT TO TRAFFIC CONTROL SURE.
DO Y'ALL EXPECT TO SEE A TRAFFIC LIGHT AT THAT DRIVE AND 1 0 8? DO YOU EXPECT TO SEE ONE AT ONE 30 AND THAT DRIVE? DO Y'ALL SEE IT FURTHER UP WHERE THE ONE 30 ACCESS ROAD WILL EVENTUALLY CONTINUE UP TO LOWER LOOP WHENEVER THAT DAY COMES? SURE.
UH, I MEAN, WE'D LOVE NOTHING MORE THAN THAT, THAT SERVICE ROAD TO BE PUNCHED ALL THE WAY THROUGH.
I MEAN, THAT WOULD BE BENEFICIAL FOR, FOR RETAIL FOR SURE.
'CAUSE THAT'S A MISSING MOVEMENT RIGHT NOW.
UM, WE'VE ACTUALLY, WE'RE SHOWING, UH, ON INNOVATION, WE'RE SHOWING ACCESS ON THE NORTHERN SIDE, AND THEN WE ACTUALLY HAVE ANOTHER, UM, ACCESS POINT RIGHT BEHIND SHOPS TWO THAT'S ON OUR LATEST SITE PLAN.
UH, TO GET IN AND OUT, OBVIOUSLY RIGHT HERE.
IS THAT WHAT YOU'RE TALKING ABOUT, ADAM? UH, JUST WEST OF HERE OR JUST PLAN PLAIN LEFT OF THERE.
OH, LIKE WHERE THIS DRIVE AISLE? YES, THE CONNECT AISLE.
UM, THE, THE DRIVE CONNECTS DIRECTLY INTO, UH, I THINK ON THE NORTHERN SIDE OF THE SITE, CONNECTS INTO THE DRIVE THAT IS NOT QUITE OPEN TO THE PUBLIC YET, GOING BACK TO TOWN WEST CENTER MM-HMM
AND SO YOU'LL HAVE ACCESS BACK THROUGH THERE.
SO WE DO, WE COMPLETELY AGREE.
INNOVATION IS BUSY IN THE MORNING, PEOPLE LEAVING AND COMING HOME.
AND SO THAT'LL BE STUDIED IN THE TIA, UM, UNFORTUNATELY, UH, I MEAN, WE'D LOVE TO HAVE THE ACCESS POINT ON INNOVATION FOR PAD A, PAD B, BUT WE WILL NOT, WE WILL NOT GET THAT RIGHT THERE.
YOU SAYING THIS ONE RIGHT HERE HAS ALREADY BEEN TOLD NO.
SO IT WILL BE, UM, FROM THE CONNECTOR ROAD, IT'LL BE ONE ACCESS POINT TO THE NORTH AND TO THE SOUTH.
AND THEN OUR DESIRE WOULD TO BE, HAVE ONE ON SH ONE 30.
THE MORE ACCESS POINTS THE BETTER JUST FOR FLOW OF TRAFFIC, OF COURSE.
YOU'RE IN A HIGH TRAFFIC COUNT AREA DURING THE, YOU KNOW, MORNING AND AFTERNOON AND IT'S LIKE, IT HELPS DRIVE TRAFFIC TO THE SITE, BUT IN THE SAME SENSE YEAH.
IT ALSO ADDS ANOTHER LAYER OF COMPLEXITY
[00:30:01]
TO IT.WE TRY AND ANTICIPATE DEPENDING ON, YOU KNOW, WHO THE ULTIMATE USERS ARE, BECAUSE IF YOU'RE, YOU KNOW, THE CHICKEN USER THAT, THAT, YOU KNOW, HAS 67 CARS IN FRONT OF IT, YOU KNOW, THAT'S GONNA BE VERY DIFFERENT THAN, THAN THE ALTERNATIVE.
UH, ANY OTHER QUESTIONS, COMMENTS, CONCERNS? IS THE ULTIMATE GOAL TO TAKE ACTION ON THIS TONIGHT? CHANEY, UH, IT IS AN EXECUTIVE SESSION FOR DISCUSSION AS WELL.
I GUESS WE'LL LEAVE IT FOR THAT THEN.
ALRIGHT, ITEM FIVE TO DISCUSS AND CONSIDER A PRESENTATION, UH, FOR MIDWAY REGARDING AN UPDATE ON THE DEVELOPMENT OF THE COTTONWOOD PROPERTIES CHAIR.
UM, STAFF DID REQUEST THAT ITEM 7.1 THAT ALSO PERTAINS TO MIDWAY BE TAKEN UP WITH THE PRESENTATION.
WHILE WE HAVE REPRESENTATION FROM MIDWAY HERE TO ADDRESS ANY QUESTIONS PERTAINING TO ITEM SEVEN ONE AS WELL.
DO YOU WANNA JUST DO THAT RIGHT AFTER FIVE TWO? YEAH, YOU CAN DO THAT.
DO YOU, DO YOU WANT ME TO DRIVE? YOU'VE GOT A CLICKER THERE.
LET ME JUST GET IT TO PRESENTATION.
AND THEN JUST, IF YOU WANNA CLICK, MAKE SURE IT WORKS.
UH, MY NAME FOR THOSE OF YOU I'VE NOT MET IS DAVID HIGHTOWER.
I'M EXECUTIVE VICE PRESIDENT WITH MIDWAY, MIDWAY, UH, IS, I THINK, THINK ALL OF YOU KNOW, WAS THE, UH, SUCCESSFUL, UH, CANDIDATE AND BEING SELECTED AS THE MASTER DEVELOPER FOR MASTER PLANNING THIS PROPERTY FOR THE EDC AND WORKING WITH THE EDC ON WHAT COULD VERY WELL BE, UH, A VERY SIGNIFICANT FOCAL POINT IN COMMUNITY CENTER.
UH, AND, AND WE'RE EXCITED TO BE WORKING ON THIS.
UM, I'M GONNA GO THROUGH THIS PRESENTATION.
PLEASE FEEL FREE TO ASK QUESTIONS.
UH, FOR THOSE OF YOU WHO HAVE, UH, HAVE BEEN HERE FROM THE BEGINNING, YOU MAY RECOGNIZE SOME OF THESE IMAGES, BUT, UM, THERE'S A REASON FOR THAT, WHICH I'LL ELABORATE ON, UH, IN A MINUTE.
UH, AGENDA, OUR MISSION, UH, WHICH IS PRETTY QUICK AND SIMPLE, UH, WALK YOU QUICKLY THROUGH THE CREATIVE PHASE WHERE WE ARE IN, IN RESPECT TO THE PROJECT PROGRESS.
AND, AND I HAVE A, A WRITTEN COPY HERE.
'CAUSE SOMETIMES I HAVE A HARD TIME READING YOUR SCREENS.
I NEED NEW GLASSES, BUT IT ALSO ALLOWS ME TO MAKE SOME NOTES IN CASE I NEED TO, DURING THIS COURSE OF THIS, UH, CONVERSATION.
AGAIN, UH, PROGRESS UPDATE, SHARE A LITTLE BIT MORE ABOUT THE VISION AND WHAT WE, UH, FULLY, UH, WOULD LIKE TO SEE BASED ON ALL OF THE CONVERSATIONS THAT WE'VE HAD, UH, WITH THE, WITH THE BOARD AND STAFF OVER TIME.
UH, TALK ABOUT CONCEPTUAL PLANS AND THEN SOME EXHIBITS TO GIVE YOU AN IDEA OF, UH, WHAT WE THINK THAT THIS COULD BE.
UH, AGAIN, OUR MISSION IS TO CREATE A HOLISTIC COMMUNITY THAT BECOMES PART OF THE FABRIC OF THE CITY, INCLUDING DESIGN FEATURES THAT FEEL ORGANIC.
WE WILL HAVE A FEW HIPPOS IN THIS PROJECT AND PROVIDE CONNECTIVITY TO OTHER AREAS OF THE CITY.
UH, NOT JUST VEHICULAR, BUT TRAILS AND, UH, OTHER OPPORTUNITIES.
MULTIMODAL, IF YOU WILL, TO USE AN OVERUSED TERM.
WE ARE IN WHAT WE CALL THE CREATE PHASE.
WE STARTED OFF IN THE IDENTIFY AND THEN EVALUATE.
EVALUATE PRINCIPALLY BEING DUE DILIGENCE.
WE'RE PRETTY MUCH THROUGH THE DUE DILIGENCE PHASE.
BUT AS TIME GOES ON ON THESE KINDS OF PROJECTS, JUST KEEP IN MIND THIS IS 250 ACRES.
UM, THINGS, THINGS CHANGE TO INFLUENCE THAT PLAN OVER TIME.
UH, THE AGREEMENTS THAT ARE CONTEMPLATED UNDER THE MOU, THE PURCHASE OPTION AGREEMENT, THAT DRAFT, UH, THERE'S BEEN A DRAFT CIRCULATED.
UH, AND THERE WILL BE ANOTHER DRAFT CIRCULATED IN THE VERY, VERY NEAR FUTURE WITH THE IDEA OF HAVING THAT EXECUTED IN THE FORESEEABLE FUTURE.
UM, AND WE CAN TALK ABOUT THAT MORE, UH, IF YOU'D LIKE.
AS WE GET INTO THE SCHEDULE DEVELOPMENT AGREEMENT.
UM, WE WERE WORKING ON A DEVELOPMENT AGREEMENT, UH, THEN WE WERE TOLD, UH, WE DIDN'T REALLY NEED ONE.
'CAUSE THIS PROPERTY'S ALREADY IN THE CITY.
DEVELOPMENT AGREEMENTS ARE TYPICALLY FOR PROJECTS THAT ARE OUTSIDE OF THE CITY TO BE ANNEXED BY THE CITY.
BUT THERE ARE A NUMBER OF ASPECTS OF THIS PROJECT THAT INDICATE THAT WE PROBABLY WILL NEED TO HAVE SOME KIND OF A DEVELOPMENT AGREEMENT, UH, PARTICULARLY AS IT RELATES TO THE PUD, WHICH I'LL GET TO IN A FEW MINUTES.
UM, AND THINGS THAT ARE GOING TO BE EXPECTED AND TO BE INCLUDED IN THIS PROJECT, UH, INFRASTRUCTURE FINANCING AGREEMENT.
UM, THAT'S, UH, A VERY BIG QUESTION MARK RIGHT NOW.
UM, BASED ON, UH, LAST WEEK'S MEETING REGARDING MUNICIPAL MANAGEMENT DISTRICT AS, AS INDICATED IN MOU, WE CONTEMPLATED, UH, USING AN, A MUNICIPAL MANAGEMENT DISTRICT AS AN INFRASTRUCTURE FINANCING VEHICLE.
[00:35:01]
UH, THAT APPARENTLY IS, UH, NOT AN OPTION ON THE TABLE RIGHT NOW.SO WE'RE, WE HAD TO STEP BACK AND REEVALUATE HOW WE PROCEED WITH INFRASTRUCTURE FINANCING.
UH, FEASIBILITY ANALYSIS, GEOTECH IS PRETTY MUCH DONE.
ENVIRONMENTAL, PRETTY MUCH DONE, UH, PRELIMINARY CIVIL SITE COMPLETE.
UH, WE HAVE SUBMITTED A REVISED SERI BELIEVE THAT WAS SIGNED AND SUBMITTED EARLIER IN JUNE.
WE HAD SUBMITTED ONE AT THE END OF LAST YEAR.
UM, IT WAS RETURNED AFTER SOME EVALUATION BY, UH, PUBLIC, THE PUBLIC WORKS DEPARTMENT AND DEVELOPMENT SERVICES, UH, FOR ADDITIONAL INFORMATION DURING THAT INTI SUING TIME PERIOD, SOME THINGS CHANGED IN TERMS OF PLANNING.
AND SO WE, BASED ON THE REVISED CONCEPT PLAN, WE PREPARED A NEW SER.
AND THAT WAS SUBMITTED IN THE NAME OF THE EDC, SINCE ONLY THE PROPERTY OWNER CAN SUBMIT AN SER.
UH, AND WE GREATLY APPRECIATE YOUR COOPERATION IN THAT PRELIMINARY MARKETING ANALYSIS THAT IS ONGOING.
AND
TRAFFIC IMPACT ANALYSIS IS UNDERWAY.
UH, COMMUNITY ENGAGEMENT, UH, AGAIN, WE'VE, UH, ATTENDED SOME COMMUNITY MEETINGS.
WE'VE IDENTIFIED STAKEHOLDERS.
THAT'S CONTINUES TO BE SOMETHING IN PROGRESS.
UH, WE'RE GATHERING FEEDBACK WITH FROM THE CITY, UH, ON THE PLAN.
AND THEN ZONING, OF COURSE, WILL BE THE PUT APPLICATION, WHICH IS BEING DRAFTED.
CONCEPT PLANNING AND UNDERWRITING PROGRAM NARRATIVE IS ONGOING, AND I'LL GET MORE INTO PROGRAM NARRATIVE, UH, AS WE TALK MORE ABOUT THE CONCEPT PLAN IN A FEW MINUTES.
INITIAL CONCEPTUAL MASTER PLAN C PLUS INFRASTRUCTURE, UH, IS ONGOING.
UM, AGAIN, UM, WE'VE GOT SEVERAL DIFFERENT VERSIONS OF THE MASTER PLAN IN HERE.
WHEN WE GET TO THOSE, I'LL SPEAK MORE DETAIL TO THOSE.
AND THEN LEASING AND MARKETING.
UH, WE'RE WORKING ON OUR PRELIMINARY, UH, MARKETING PLAN.
UH, THERE'S BEEN BEEN SOME PRELIMINARY MERCHANDISING PLAN DONE ON THE RETAIL, ON THE MAJOR RETAIL COMPONENT OF THE PLAN.
UNDERWRITING, UH, ANALYSIS AND PROGRESS AND ONGOING.
AND OF COURSE, OVERALL MARKETING PROGRAM IS UNDERDEVELOPED.
UM, THE HIGHWAY INTERSECTION, WHICH HAS BEEN DISCUSSED QUITE A BIT, UH, OF, OF 79 AND 1 32, DOES HAVE A CRITICAL IMPACT ON HOW THIS PROPERTY IS DEVELOPED.
I THINK WE TALKED AT LENGTH ABOUT THAT LAST SUMMER.
WE TALKED AGAIN ABOUT IT IN FEBRUARY WHEN WE WERE HERE.
UM, AND, AND BASED ON THE, UH, THE CITY'S DECISION TO, UH, PUT THE BRAKES ON, TURN THE ENGINE OFF ON THE GARVER, UH, DESIGNED FOR THAT INTERSECTION, UH, WE WERE GOING TO OUR TIA WILL REALLY DRIVE WHAT'S GONNA NEED TO BE DONE THERE.
PAP DAWSON IS ALREADY WORKING ON THAT.
UH, AND IN FACT, UM,
SO IT SEEMS LIKE, UH, THE, THE SCOPE OF OUR, OUR, UM, EVALUATION ON THAT PARTICULAR PROJECT IS GROWING JUST A LITTLE BIT.
OUR MASTER DRAINAGE STUDY IS UNDERWAY, UH, HOPEFULLY WILL BE DONE IN THE NEAR FUTURE.
THAT WILL HAVE A LITTLE BIT OF AN IMPACT ON OUR MASTER PLAN.
WE MAY HAVE TO TWEAK IT A LITTLE BIT BASED ON WHAT THE DRAINAGE, UH, THE ULTIMATE MASTER DRAINAGE PLAN COMES BACK WITH, BUT I'M CONFIDENT THAT IT WON'T MATERIALLY CHANGE IT.
UH, CHALLENGES AND OPPORTUNITIES AS CITY COUNCIL DIRECTED ON JUNE 5TH.
UH, WE TALKED ABOUT THAT, THE INTERSECTION, UH, IT'S NOW KIND OF ON US, SO TO SPEAK, AT LEAST IN TERMS OF DESIGNING IT AND COMING UP WITH, UM, YOU KNOW, AN APPROVED PLAN THAT ALL PARTIES CAN AGREE TO.
UM, CREATING A, A WALKABLE DESTINATION CONNECTORS TO OTHER PARTS OF THE CITY IS PART OF OUR TRAIL SYSTEM.
UM, COMMUNITY ENGAGEMENT, WE'VE ALREADY TALKED ABOUT THAT JUST A LITTLE BIT.
AND IF I'M RUNNING THROUGH THIS, PLEASE FEEL FREE TO ASK QUESTIONS.
I, I, I'M TRYING NOT TO, I'M TRYING TO BE RESPECTFUL OF YOUR TIME.
UM, BUT WHAT, WHAT WE HAVE LEARNED IS EVERYBODY'S EXCITED ABOUT THIS PROJECT THAT TRAILS AND OTHER PUBLIC USES ARE VERY IMPORTANT, AND THEY'RE IMPORTANT TO US AS, AS I WILL EXPLAIN FURTHER IN A LITTLE BIT.
AND THEN ADDITIONAL SPORTS FIELD IS REALLY IMPORTANT PART OF THIS.
AND WE'RE UTILIZING THE PLAN AS YOU SEE, WE'LL SEE.
UH, AND AS IS INDICATED IN THE LAST, UH, PLANS THAT WE WENT THROUGH, UH, THE SPORTS FIELDS, WE'RE UTILIZING THE FLOODPLAIN AREA FOR THAT, UH, WE THINK IS A VERY EFFICIENT USE OF THAT AREA.
UM, RETAIL INTEREST REMAINS VERY STRONG IN THIS PROJECT.
[00:40:01]
OFFICE DEMAND'S A FUNCTION OF THE TECHNOLOGY, UH, INDUSTRY THAT'S GROWING TO THE EAST AND ALL AROUND FOR THAT MATTER.UH, BUT OVER TIME OFF, WE BELIEVE OFFICE WILL BE A, UH, GROWING IN DEMAND.
MULTIFAMILY UNITS HAVE SOFTENED IN TERMS OF RENTS, BUT, UH, AT PRESENT WE THINK A SURFACE.
UH, OUR FIRST MULTIFAMILY PROJECT WILL PROBABLY BE A SURFACE PARKED PROJECT.
EVENTUALLY WE'LL BE ABLE TO DO STRUCTURED PARKING, BUT YOU'VE GOTTA BE ABLE TO DRIVE RENTS UP TO BE ABLE TO DO THAT.
A FEW PICTURES FROM, AND, AND YOU'RE GONNA SEE A LOT OF THESE PICTURES FROM OUR PROJECT CALLED CENTURY SQUARE IN COLLEGE STATION.
THIS WAS, UH, AGAIN, YOU MAY HAVE SEEN SOME OF THESE IMAGES IN OUR PRESENTATION BACK, UH, WHEN WE WERE GOING THROUGH THE RFP PROCESS.
'CAUSE WE SEE THIS AS VERY MUCH AKIN TO WHAT DIVISION COULD BE HERE.
UM, IT'S, IT'S VERY, VERY MUCH PEOPLE ORIENTED.
I LIKE TO, I LIKE TO SAY THAT OUR FOCUS IS NOT ON, YOU KNOW, BUILDING, YOU KNOW, AWARD-WINNING ARCHITECTURE.
OUR FOCUS IS ON WHERE WE LIVE, THE GROUND PLAYING, WHERE PEOPLE INTERACT, WHERE PEOPLE WANT TO BE.
SO IT'S THE GROUND TO ABOUT 20 FEET IN THE AIR.
THAT'S REALLY WHERE WE FOCUS OUR ATTENTION ON ACTIVITIES, FEATURES, UH, AMENITIES, ET CETERA.
THIS IS A, UH, CURRENT TIME SCHEDULE.
UM, PROBABLY T I'D LIKE TO SKIP THROUGH THIS AND COME BACK TO IT, IF YOU DON'T MIND, BECAUSE I WANNA TALK ABOUT THE CONCEPT PLANS AND THE VISION A LITTLE BIT.
'CAUSE IT HAS A BEARING ON SCHEDULE, IF YOU WILL.
UH, PLANNING GUIDELINES, PHASE ONE, UH, IS, IS MEANT TO ESTABLISH THE PLACE TO CREATE MARKET AWARENESS OF WHAT COTTONWOOD IS.
NOW I'VE ALSO HAD SOME CONVERSATIONS WITH CHENEY ABOUT THE FACT THAT THERE'S A LOT OF THINGS NAMED COTTONWOOD IN, IN THIS COMMUNITY.
SO WE MAY, WE MAY BE RETHINKING THAT NAME, BUT FOR RIGHT NOW, WE'RE GONNA CONTINUE WITH COTTONWOOD.
UM, BUT THAT, THAT FIRST PHASE, WHICH OUR PLAN WOULD BE TO GO FORWARD WITH THE RETAIL MAJOR RETAIL, UH, IS GOING TO HELP DRIVE, UH, MARKET AWARENESS AND BRING PEOPLE TO THE PROJECT.
THAT GIVES US AN OPPORTUNITY TO REALLY WORK ON REALLY DETAILED CONCEPTUAL PLANNING AND PROGRAMMING FOR THE REMAINDER OF THE PROPERTY INCLUDED IN THAT PLAN, AND IF YOU'LL REMEMBER, LET'S SEE, WHAT'S OUR ORIGINAL PLAN? LET ME GO BACK IF I CAN DO THIS, BUT, OKAY.
THE PROPERTY, UM, THIS, THIS IS BASICALLY THREE PARCELS.
THE, THE GENERAL PLAN, OR WHAT I CALL THE, THE FRAMEWORK ON WHICH ALL OF THIS WILL BE BUILT ARE SOME PUBLIC STREETS AND PUBLIC TRAIL SYSTEMS THAT, UH, BRING TOGETHER THE COMMUNITY, BRING TOGETHER THE, UM, ACCESS, BUT LEAVES US A LOT OF FLEXIBILITY ON WHAT GOES ON IN BETWEEN THOSE.
SO WHEN YOU LOOK AT THE SITE DIAGRAM, THIS IS KIND OF A GENERAL USE DIAGRAM.
THIS IS THE, THE, UH, THE EVERY MER LANE, AS YOU CAN SEE IS, UH, KIND OF REROUTE TO IT.
UM, OUR ORIGINAL PLAN, IF YOU, THOSE OF YOU WHO WERE ON THE BOARD AT THE TIME MIGHT RECALL, WE HAD ALL SINGLE FAMILY NORTH OF, UH, ME LANE.
AND PARTLY BECAUSE 250 ACRES IN THIS KIND OF MARKET, THAT'S, IT JUST TAKES FOREVER TO ABSORB THAT FOR JUST ALL COMMERCIAL USES.
UH, UNLESS WE WERE DOING INDUSTRIAL, IN WHICH CASE WE COULD PROBABLY DO A LOT, BUT THAT'S NOT THE IDEA HERE.
UM, SO WE, WE WERE WORKING ALONG THE LINES THAT WE WOULD HAVE ALL SINGLE FAMILY TO THE NORTH OF ME LANE.
AND THEN DURING THIS PROCESS OF DISCUSSION AND INPUT FROM THE CITY AND OTHERS, WE LEARNED THAT THERE WAS A DESIRE TO HAVE A PLACE FOR MEDICAL THAT EASTERN WILLIAMSON COUNTY NEEDS A HOSPITAL, A A A SERIOUS HOSPITAL AND MEDICAL OFFICE.
AND THIS COULD, THIS SITE COULD BECOME, AND THAT'S WHAT THE YELLOW IS, COULD BECOME THE LOCATION FOR THAT KIND OF MEDICAL COMPLEX.
THEN WE SAID, OKAY, WELL, WE STILL NEEDS SOME RESIDENTIAL.
SO WE WENT WITH A LITTLE HIGHER DENSITY SINGLE FAMILY TO THE, THE, UH, EAT WEST OF THAT.
UM, BETWEEN THE MEDICAL SITE AND THE EXISTING SUBDIVISION TO THE WEST, EVERYTHING TO THE SOUTH THEN BECOMES, UH, EITHER PUBLIC RETAIL OR MIXED.
THE RETAIL CENTER IS SHOWN IN THAT KIND OF A LIGHT GRAY COLOR, I GUESS YOU WOULD CALL IT THE TAN COLORS.
THE DARKER COLORS ARE THE, UM, KIND OF A BLUISH, I GUESS WOULD BE THE PUBLIC USES.
AGAIN, THE BALL FIELDS BEING IN THE, THE LARGE PARCEL ON THE WESTERN END OF THE
[00:45:01]
PROPERTY BEING A LOT OF FLOOD PLAIN, THAT'S A GREAT PLACE TO PUT BALL FIELDS AND OTHER ACTIVITIES LIKE YOU HAVE IN FITZ PARK ON THE OTHER SIDE OF THE CREEK.UH, BUT WE'VE ALSO GOT SOME OTHER PUBLIC USES.
I'LL, I'LL HIGHLIGHT IN JUST A MOMENT.
MAY I ASK A QUICK QUESTION? YES.
UM, I'M JUST TRYING TO VISUALIZE IN MY HEAD, I'M LOOKING AT THE, THE PLAN HERE, THE HARD CORNER, UH, ON THE EAST.
SO YOU'RE ON HERE, IT'S GREENISH ON MINE, IT LOOKS PURPLE.
BUT, UM, THE VISUALS THAT YOU GAVE US, THE PHOTOS OF THE CENTURY, UH, DEVELOPMENT, IS THAT THOSE, THAT KIND OF CENTER, IS THAT WHAT YOU'RE ENVISIONING FOR THIS HARD CORNER? SOMETHING SIMILAR TO THAT? LIKE IF THAT WERE THIS DEVELOPMENT, THAT WOULD BE WHERE IT WAS, OR, WELL, THE, RIGHT NOW OUR PLANNING IS MORE OF A LITTLE, I WOULD CALL IT MORE ALIGNED WITH THE TRADITIONAL RETAIL CENTER, BUT OKAY.
BUT DESIGNED AS PART OF THE MIXED USE SO THAT IT, IT'S ALL SEAMLESS.
IT'S NOT LIKE THAT'S A WHOLE DIFFERENT PROJECT OVER THERE.
IT, IT WOULD BE PART OF THE WHOLE PROPERTY ARCHITECTURALLY, UH, ACCESS, YOU KNOW, THE WHOLE THING.
JUST THINKING, YOU KNOW, ON THE HARD CORNER WHERE THAT CREATIVE AESTHETIC PIECE GOES, UM, IF THAT WAS WHERE YOU ENVISIONED IT BEING, BUT, OKAY.
UM, WW WE'VE DONE A NUMBER OF CONCEPT PLANS.
UH, WHAT WE'VE PROVIDED HERE ARE THREE DIFFERENT PLANS.
AND, UM, AS YOU WILL, IT, IT'S KIND OF HARD TO SEE, UH, BUT THEY, THEY WERE DONE PARTLY TO SEE HOW THE PIECES OF THE PUZZLE FIT TOGETHER, BUT ALSO BECAUSE WE NEEDED TO COME UP WITH ALL OF THE DENSITIES AND USES TO PUT THE SERVICE EXTENSION REQUESTS TOGETHER.
AND THAT WILL HELP INFORM THE TRAFFIC IMPACT ANALYSIS.
THE WHITE BLOCK THAT YOU SEE IS KIND OF THE MORE TRADITIONAL, UH, RETAIL THAT'S A EARLIER VERSION.
UH, IT'S CONSTANTLY BEING LOOKED AT AND REFINED AS WE TALK AND, UH, WORK THROUGH IT.
THE, UM, YOU'LL SEE A KIND OF A TOTE COLOR JUST ABOVE IT.
THAT'S THE SURFACE MULTI PROJECT IS WE WOULD BE CONTEMPLATING AT THIS TIME.
AND, UM, TO THE EAST OF THAT TRACT IS A, UM, IS IS A SITE THAT WE'VE IDENTIFIED, UM, TO MEET THE RE NEEDS OF THE, UH, THE CITY'S CRIMINAL JUSTICE CENTER.
WE, WE WERE ADVISED EARLIER THIS YEAR THAT THERE WERE SEVERAL USES.
THE CITY WOULD REALLY LIKE TO HAVE YOU ALREADY OWN THE LAND, SO LET'S PLAN 'EM AS PART OF THIS, THIS PROJECT, IT'S A GREAT USE TO BE INCORPORATED INTO THE PLAN.
IT WILL HELP OUR RETAIL BY BRINGING PEOPLE TO THE, TO THE PROJECT.
SO THE CRIMINAL JUSTICE CENTER IS THERE, AND IT'S BOUNDED ON THE EASTERN SIDE BY, UH, ANOTHER RETAIL USE.
BUT, UH, RECENTLY WE WERE ASKED COULD IT, COULD THAT RETAIL SIDE ALSO BE PART OF THE CRIMINAL JUSTICE CENTER? AND SURE, AT THIS POINT IN TIME, IT'S A, YOU KNOW, IT'S A, IT'S LINES ON A PAPER IT, BUT AS WE GO THROUGH THE PUD PROCESS, WE REALLY NEED TO BE REFINING THAT, IF YOU WILL, AND, AND BRINGING SOME, SOME CLARITY TO WHAT THOSE USES ARE GONNA BE.
AS YOU CAN SEE TO THE NORTH OF ME LANE, WE'VE GOT A COUPLE LARGE BUILDING, UH, COMPLEXES, IF YOU WILL.
UH, THERE'S A POWER LINE EASEMENT GOING THROUGH THE PROPERTY.
UH, THE SOUTH OF THAT POWER LINE EASEMENT, THAT'S THE HOSPITAL SITE.
AND ON THE NORTH SIDE OF IT ARE THREE MEDICAL OFFICE BUILDINGS WITH PARKING GARAGE.
UM, THOSE THINGS DEVELOP OVER TIME.
AND IN OUR PROJECTIONS OF ABSORPTION THAT WE PREPARED FOR THE SER, THEY WERE IN THE YEARS OUT.
BUT WE, WE THINK IT'S A GREAT IDEA TO HOLD THAT SITE BECAUSE I, I'M TOTALLY CONFIDENT THAT IT'S A GREAT SITE FOR A HOSPITAL.
AND THE, AND THE FOOTPRINTS THAT YOU SEE, THERE ARE ACTUALLY OTHER HOSPITAL AND MOB PROJECTS IN THE AUSTIN MARKET.
WE SIZE THAT SITE BASED ON A NUMBER OF, UH, PROJECTS THAT, SOME OF WHICH I'VE PERSONALLY BEEN INVOLVED IN.
I SOLD TEXAS CHILDREN'S HOSPITAL, THEIR SITE FOR THEIR WEST CAMPUS IN, IN HOUSTON.
I SOLD MD ANDERSON THEIR SITE FOR THEIR FIRST, UH, SITE OR HOSPITAL OUTSIDE THE TEXAS MEDICAL CENTER.
SO I GOT A LITTLE BIT OF EXPERIENCE DEALING WITH HOSPITALS AND THE TOWNHOUSES ON THE OTHER SIDE OF THE STREET TO THE WEST.
OF COURSE, THAT'S CONCEPTUAL LAYOUT.
AND WE WOULD WORK WITH A, UH, THE, THE DEVELOP A DEVELOPER WHO WE THINK WILL BRING, BRING THE BEST PRODUCT TO THE MARKET, UH, AND LET THEM DO THAT.
'CAUSE YOU KNOW, WE WE'RE REALLY GOOD AT WHAT WE DO AND WE DON'T HAVE ANY INTEREST IN DOING THINGS THAT WE'RE NOT REALLY, REALLY GOOD AT.
[00:50:01]
IS BETWEEN THE, A LARGE WHITE RETAIL SITE, IF YOU WILL, AND THE BALL FIELDS TO THE LEFT.WE'VE GOT SEVERAL DIFFERENT CONCEPT PLANS.
UM, BUT THEY'RE, THEY'RE ALL JUST BASICALLY, UH, HOW COULD WE DO THIS? HOW WOULD IT WORK? HOW WOULD THE FOOTPRINTS WORK? THEY ALL WORK.
WHAT'S GONNA HAPPEN IS, WE'LL, WE'RE GONNA GET THE INFRASTRUCTURE IN PLACE SO THAT EACH OF THOSE SITES THEN BECOME SHOVEL READY.
AND WHEN THE MARKET SAYS WE'RE READY FOR AN OFFICE BUILDING, WE'VE GOT A GREAT SITE FOR IT.
AND HOW BIG IT IS AND HOW IT'S ORIENTED TO THE REST OF THE DEVELOPMENT.
UM, ALL OF THOSE THINGS WILL BE DICTATED BY THE DEVELOPMENT, THE QUALITY OF DEVELOPMENT THAT WILL BE PART OF THE PUT AND OUR DEED RESTRICTIONS THROUGH THE BALL FIELDS.
UM, ON, ON THE, AND YOU CAN SEE KIND OF A DASH GREEN LINE, WE'RE LEAVING A RIGHT OF WAY FOR FUTURE LIVE OAK TO CONNECT ACROSS AT SOME POINT.
'CAUSE WE'VE BEEN TOLD THAT THAT'S IMPORTANT.
WE, WE WANT PEOPLE TO BE ABLE TO GET TO THE PROJECT COMING FROM, UH, THE WEST AND THEN THERE TO THE NORTH OF THAT THERE'S A, A, WE'VE IDENTIFIED, UH, LOCATIONS FOR A LIBRARY AND A REC CENTER.
THEY DON'T HAVE TO BE RIGHT THERE, BUT WE WANNA MAKE SURE WE'VE GOT THEM AS PART OF THE, THE PICTURE, IF YOU WILL, OF, OF THE THREE PLANS.
I PERSONALLY LIKE CONCEPT PLAN C BECAUSE IT IS GOT, INSTEAD OF THE BASEBALL FIELDS, IT'S GOT, UH, ATHLETIC FIELDS IF YOU WILL, UH, FOOTBALL FIELDS.
BUT IF YOU, IF YOU BUILD A SOCCER FIELD AND YOU CAN PLAY SOCCER, YOU CAN PLAY FOOTBALL, YOU CAN PLAY LACROSSE, YOU CAN PLAY GIRLS FLAG FOOTBALL.
THERE'S A LOT OF DIFFERENT THINGS YOU CAN DO ON THAT.
ON A BASEBALL FIELD, YOU PRETTY MUCH JUST GET TO PLAY BASEBALL.
AND I'M, IT'S MY UNDERSTANDING THERE'S A LOT OF BASEBALL FIELDS AROUND THAT.
YOU NEED MORE ATHLETIC FIELDS.
BUT AGAIN, THERE'S A LOT OF FLEXIBILITY THERE.
AND THE, AND THE PLANNING OF THE PARKS WILL BE DONE IN CONJUNCTION WITH YOUR PARKS AND RECREATION GROUP.
I MEAN, THIS IS, THIS IS THEIR DEAL, RIGHT? WE WANT TO HAVE A PLACE FOR IT.
AND TO THE EXTENT WE CAN HELP FACILITATE GETTING IT ON THE GROUND, WE WOULD DO THAT TOO.
PART OF, UH, IN ALL OF THESE CONCEPT PLANS, YOU SEE THAT WE'VE GOT A REALIGNMENT OF MER.
WE THINK THAT THAT'S IMPORTANT FOR A COUPLE REASONS.
UH, ONE, IT'S MEETS YOUR MASTER, YOUR MOBILITY MASTER PLAN.
THIS, THIS ALIGNMENT GENERALLY COMPORTS WITH WHAT'S IN YOUR, YOUR LONG RANGE.
UH, I THINK THAT WAS UPDATED IN 20 SEPTEMBER OF LAST YEAR, IF I'M NOT MISTAKEN.
NUMBER TWO, THE INTERSECTION OF MERED NEEDS TO BE LOCATED BETWEEN THE INTERSECTION OF 79 AND 1 32 AND LEMUR AND 1 32, SO THAT YOU'VE GOT, UH, THE BEST SITE, UH, SPACING DISTANCE BETWEEN, UH, THOSE INTERSECTIONS.
'CAUSE LEMUR, I MEAN, UH, MA IS GOING TO NEED TO HAVE A, A SIGNAL.
IT'S, UH, EVENTUALLY 1 32 IS EXPECTED TO BE A SIX LANE HIGHWAY.
BASICALLY MAJOR, MAJOR ARTERIAL.
UH, AND YOU'LL NEED, WE'LL NEED, YOU'LL NEED A SIGNAL LIGHT AT THAT INTERSECTION.
THE OTHER STREETS THAT ARE WITHIN THE PROJECT ARE DIFFERENT CLASSIFICATIONS.
UH, WE ANTICIPATE THAT, UM, CAROL'S DRIVE, UH, WOULD, WOULD PROBABLY END UP WITH A SIGNAL LIGHT KATE'S WAY, WHICH IS AN EXTENSION OF KATE'S WAY FROM THE NORTH, UH, WOULD, WOULD NOT HAVE A SIGNAL LIGHT.
WE THINK THAT THE, THERE'S THE SPACING OF SIGNALS BETWEEN INTERSECTION AT 1 32 AND, UH, THE ONE JUST TO THE WEST OF FITZ PARK, UH, PRETTY MUCH DICTATES WE WOULD ONLY HAVE THE OPPORTUNITY, WE BELIEVE, TO ONLY HAVE ONE SIGNAL LIGHT THERE.
SO THAT BEING SAID, WE'LL GO BACK REAL QUICK TO, AND, AND AS I WAS GOING THROUGH THIS EARLIER, I THOUGHT, BOY, I PUT THAT CHART IN THE WRONG PLACE,
NOW THAT, NOW THAT YOU'VE GOT ALL THE PICTURE OF, IN TERMS OF, UH, THE VISION AND OR AT LEAST YOU KNOW, THE PLAN, THE CONCEPT PLAN COMPONENTS, UM, AGAIN, OUR DUE, OUR DUE DILIGENCE, WE'RE PRETTY MUCH DONE WITH THAT.
UM, WORKING ON THE, UH, OPTION PURCHASE AGREEMENT THAT'S BEEN DRAFTED, AS I SAID EARLIER, UH, REVISED DRAFT WILL BE OUT IN THE VERY, VERY NEAR FUTURE WITH THE IDEA THAT WE'LL HAVE THAT DONE, UH, POSSIBLY EVEN BY YOUR AUGUST BOARD MEETING.
UM, SERVICE EXTENSION REQUEST, UH, HAS BEEN SUBMITTED IN JUNE.
THE, UM, PROBABLY, UH, WE'LL SEE THE OUTCOME OF THAT IN OCTOBER.
A LOT OF WHAT COMES IN THE SERVICE EXTENSION REQUEST WILL BE REQUIREMENTS
[00:55:01]
FOR WASTEWATER, REQUIREMENTS FOR WATER TRAFFIC, ALL OF THOSE THINGS THAT, THAT THEN DRIVE, UH, A NUMBER OF THESE OTHER MAJOR COMPONENTS.THE DEVELOPMENT AGREEMENT, UH, WERE, AS I SAID EARLIER, WE, BECAUSE OF THE, UM, RECENT, UM, DECISION, I GUESS WITH RESPECT TO MUNICIPAL MANAGEMENT DISTRICT, WE'RE HAVING TO STEP BACK AND THINK, OKAY, HOW DO WE, HOW DO WE WORK THAT FINANCING FOR THAT? AND THAT'S THAT ALONG WITH WHATEVER'S IN THE SERVICE EXTENSION REQUEST, YOU KNOW, WE NEED THAT FEEDBACK IN ORDER TO GET THAT DOCUMENT AND INTO A FORM THAT CAN THEN BE SUBMITTED AND REVIEWED BY, BY Y'ALL.
UM, AS I MENTIONED EARLIER, THE DRAINAGE STUDY IS UNDERWAY.
PUT APPLICATION WE'VE STARTED ON, UH, BASED ON, UM, THE, THE CONCEPT PLAN THAT WE'VE SEEN EARLIER AND BETWEEN A, B AND C, AND, AND BELIEVE ME, THERE WERE OTHERS, BUT THEY WERE ALL, ALL WITH THE IDEA OF, OKAY, LET'S, LET'S FIND OUT WHAT OUR NEEDS ARE AND KIND OF HIGH LOW, WE'LL TAKE THE MEDIAN FOR THE SER.
UM, THE, THE MUNICIPAL MANAGEMENT DISTRICT AND INFRASTRUCTURE FINANCE FINANCING AGREEMENT.
THAT'S A DIFFERENT COLOR BECAUSE AGAIN, THAT'S KIND OF IN LIMBO, I GUESS.
TRAFFIC IMPACTS ANALYSIS IS UNDERWAY.
UH, WE'LL BE, PROBABLY, WE'LL BE HALFWAY THROUGH IT BEFORE WE REALLY CAN START ANY SERIOUS DESIGN WORK ON THE, UH, 79 1 32 INTERSECTION.
BUT AS YOU CAN SEE BY THE LIGHT SHADOW, UH, SHADING, UH, WE'RE GONNA BE WORKING ON IT.
WE'RE GONNA BE HAVING CONVERSATIONS WITH PEOPLE ABOUT IT.
IT'S NOT LIKE WE'RE NOT GONNA START ON IT UNTIL LATER.
UH, WE'RE ALREADY WORKING ON IT, BUT THAT'S, THAT'S WHEN WE THINK, UH, DESIGN CAN REALLY GET STARTED.
ONCE WE'VE HAD INPUT FROM THESE OTHER, UM, OTHER, UH, INFRASTRUCTURE RELATED COMPONENTS, PARTICULARLY THE TIA, UH, SECTION ONE PLATTING, THAT IS OUR FIRST SECTION.
YOU KNOW, WHAT ARE WE GONNA DO IN TERMS OF INFRASTRUCTURE AND, AND, UH, PLAT FOR THE FIRST SECTION OF DEVELOPMENT STUFF, STUFF'S SO SMALL, I CAN BARELY READ IT.
UH, INFRASTRUCTURE DESIGN AND APPROVALS, WE'LL HAVE TO GET THROUGH THE PRELIMINARY PLAT BEFORE WE CAN START WORKING ON, UH, THE INTERSECTION OF THE, UH, INFRASTRUCTURE DESIGN WORK, WHICH WE HAVE TO DO IN ORDER TO GET FINAL PLAT REVIEW AND APPROVAL.
SO THOSE, THOSE KIND OF RUN, UM, TOGETHER IN SOME RESPECTS.
AND THEN INFRASTRUCTURE SECTION ONE, INFRASTRUCTURE CONSTRUCTION, AS YOU CAN SEE THEN WOULD START AS SOON AS THE DESIGN WORK IS IN, IS COMPLETED.
ALL OF THESE TIMEFRAMES WERE PUT TOGETHER BY OUR CONSULTANT TEAM BASED ON THEIR EXPERIENCE IN DEALING WITH THE CITY.
UM, AND, AND, AND THE REVIEW OF PLANS, UH, THE NUMBER OF TIMES THEY HAVE TO GO THROUGH THAT PROCESS AND REVISIONS.
UH, I WOULD SAY THAT ANYTHING THE CITY CAN DO FOR US, FOR ITSELF IN SOME RESPECT TO HELP EXPEDITE THAT PROCESS, CAN HELP SHORTEN THESE TIMEFRAMES.
WE WANT TO GET DIRT FLYING AS SOON AS WE CAN, BUT WE WANT YOU AND ANYBODY, YOU KNOW,
WE HAVE TO GO THROUGH ALL OF THESE STEPS, UM, THAT WE'VE BEEN WORKING DILIGENTLY TO PREPARE FOR.
UM, AND WITH, WITH, AGAIN, WITH THE EXCEPTION OF SOME VERY RECENT CHANGES, UH, WE'VE BEEN MOVING FORWARD WITH IN EARNEST.
SO WE'VE BEEN THROUGH THESE, A SIMILAR VISION PROJECT.
AS I SAID EARLIER, UH, OUR CENTURY SQUARE PROJECT, UH, WE THINK IS A, IS INDICATIVE OF THE KIND OF PROJECT THAT WE SEE ON THIS PROPERTY THAT, THAT WE UNDERSTOOD THE CITY AND THE EDC WANTED TO SEE BASED ON OUR CONVERSATIONS AND INPUT DURING THE RFP PROCESS.
AND IT, IT'S NOT NECESSARILY THIS ARCHITECTURE.
IT, IT WON'T BE EXACT COPY, BUT THE IDEA IS TO GIVE YOU THE IDEA, UH, OF THE CONCEPT IN TERMS OF SPACE AND LOCALE AND PEOPLE AND ACTIVITIES AND TYPES OF, UH, OF, UH, RETAIL.
YOU KNOW, THE, THE RE MAJOR RETAIL CENTER ON THE CORNER THAT WE WILL DO, HA HAS A CERTAIN TYPE OF TENANT.
YOU KNOW, THEY, THEY'VE, THEY'VE GOT, UM, CER CERTAIN TENANTS THAT REALLY LIKE TO BE NEXT TO EACH OTHER.
THE MIXED USE WILL HAVE MORE OF THESE,
[01:00:01]
UH, MORE UNIQUE, I GUESS YOU WOULD CALL IT, LESS, UH, OBVIOUS KIND OF TENANTS THAT YOU DON'T REALLY SEE IN EVERY, EVERY FIVE SHOPPING CENTERS THAT YOU GO TO.AND SO, RED'S ICE HOUSE, THAT'S ACTUALLY ONE OF OUR RESTAURANT PRODUCTS, THAT'S OUR, UH, A, UM, IT'S, IT'S NOT A ICE HOUSE IN, WE CALL IT RED'S ICE HOUSE, BUT IT'S A RESTAURANT.
UM, BUT AGAIN, WE'VE GOT DRY GOODS.
WE'VE GOT, UH, JUANITA'S IS ANOTHER ONE OF OUR RESTAURANTS.
WE, WE DO RESTAURANTS, WE ALSO DO HOTELS.
WHAT YOU SEE BEHIND JUANITA'S, THERE IS THE GEORGE HOTEL, WHICH WAS HOTEL THAT WE DEVELOPED AND WE OWN.
BEHIND IT IS ANOTHER HOTEL CALLED CALVARY COURT.
UM, AND, AND I'M DOING THIS PARTLY 'CAUSE JA UH, CHENEY SAID THAT SHE'D LOVE TO TAKE Y'ALL ON A FIELD TRIP, KNOWING HOW HARD IT IS TO GET PEOPLE'S SCHEDULES
I THOUGHT THIS MIGHT BE HELPFUL TO GIVE YOU A LITTLE BIT OF FLARE.
BUT AS YOU CAN SEE, ALL OF THESE SPACES ARE TREMENDOUSLY ACTIVE WITH PEOPLE.
UH, PEOPLE, PEOPLE COME OVER JUST TO HANG OUT, GO GET SOME ICE CREAM, GO SIT IN THE PARK, LISTEN TO SOME MUSIC, AND THAT'S THE KIND OF VIBE, THAT'S THE KIND OF ENVIRONMENT WE WANT TO CREATE HERE.
SO IF YOU'RE GOING TO, IF YOU'RE GOING TO BE OVER AN A, A FULL DAY OF SOCCER OVER ON THE SOCCER FIELDS, THERE'S OTHER THINGS YOU CAN GO DO BESIDES SIT ON THE TAILGATE OF YOUR GARDEN, YOU KNOW, EAT CHICKEN OUT OF A BUCKET OR SOMETHING.
A LITTLE BIT OF AN AERIAL VIEW THAT KIND OF SHOWS YOU HOW IT LAYS OUT ANOTHER FROM THE OTHER DIRECTION.
WE'VE GOT A MOVIE THEATER, THE, SO THE, THE TALLER BUILDING'S IN THE BACK.
AND AS YOU CAN SEE, WE GET A LITTLE DENSER AS WE GET INTO THE PROJECT, UH, MOVIE THEATER WITH PARKING GARAGE.
THE NEXT BUILDING TO THE RIGHT OF IT IS A THREE STORY OFFICE.
BUILDINGS, LIKE GROUND FLOOR RETAIL OFFICE ON THE TOP TWO FLOORS.
THEN YOU HAVE THE PARK AREA WITH THE ONE STORY RESTAURANT BUILDINGS.
ON THE NEXT ACROSS IS A, IS THE, UH, TWIN OF THE OFFICE BUILDING, IF YOU WILL.
AND THEN BEHIND THAT IS, UH, ONE PARK, 100 PARK, OUR MULTIFAMILY PROJECT.
THIS IS A SHOT FROM LOOKING ACROSS THE STREET.
SO I KIND OF RACED THROUGH THAT.
I HOPE, UH, NOT TOO QUICK, BUT HAPPY TO ANSWER ANY QUESTIONS.
SO THE FIRST QUESTION FOR YOU IS, LET'S SAY SCHEDULES BASED OFF WHAT YOU PROVIDED, LIKE THEY CAN'T BE EXPEDITED IN ANY WAY, SHAPE, OR FORM FOR WHATEVER REASON.
OBVIOUSLY, EVERYONE, YOU KNOW, FOR A PROJECT LIKE THIS, EVERYONE'S ON BOARD TO TRY TO DO EVERYTHING IN EVERYONE'S POWER TO MITIGATE ANY DELAYS OR, YOU KNOW, UH, PROCESSES THAT, YOU KNOW, COULD TAKE A SUBSTANTIAL AMOUNT OF TIME.
UM, SO LET'S SAY NONE OF THAT HAPPENS.
WHEN IS THE FIRST RETAILER OPEN? WELL, UH, IF YOU LOOK AT THE SCHEDULE, WE WOULD BE UNDER CONSTRUCTION ON THE FIRST SECTION OF INFRASTRUCTURE.
UM, IN THE BEGINNING, IN THE FOURTH QUARTER OF NEXT YEAR, WE WOULD START THE RETAIL AT THE SAME TIME.
WE WOULD BUILD ALL THAT SIMULTANEOUSLY.
UH, WE'VE GOT WATER ON THE BOUNDARY OF THE PROPERTY.
WE'VE GOT POWER ON THE BOUNDARY OF THE PROPERTY, AND WE HAVE A SANITARY SEWER THAT WE BELIEVE WE CAN CONNECT TO.
UH, AND SO WE CAN, WE CAN ACTUALLY BUILD THE INFRASTRUCTURE.
IN THIS CASE IT WOULD BE REALIGNED MER AND KATE'S WAY.
AT THE SAME TIME WE'RE GOING UP WITH THE RETAIL CENTER.
NOW, OBVIOUSLY WE GOTTA GET IT DESIGNED, PERMITTED, AND SURE.
SO IF ALL THE STARS ALIGN, KIND OF WHAT I'M HEARING, AND I'M, IF I'M WRONG, PLEASE, PLEASE TELL ME, YOU KNOW, AS SUCH IS WE'RE TALKING PROBABLY, YOU KNOW, OPEN SOMEWHERE, YOU KNOW, END OF 2027, KIND OF WHAT I'M SEEING, PLUS OR MINUS OBVIOUSLY CERTAIN RETAILERS WANNA BE IN BEFORE, YOU KNOW, THE CHRISTMAS RUSH, YOU KNOW, WHATEVER THAT LOOKS LIKE.
SO, BUT, YOU KNOW, PROBABLY Q4, PROBABLY TIMEFRAME IS WHAT I'M GUESSING.
IF, IF WE CAN FIGURE OUT HOW TO SHORTEN THAT TIME SCHEDULE, BECAUSE WITH ACCESS TO 79 AND 1 32 TODAY, YOU COULD GET ON THE SITE.
YOU COULD ACTUALLY GET ON THE SITE.
NOW, IT DEPENDS ON HOW THE CITY WILL GO THROUGH THE APPROVAL AND PERMITTING PROCESS.
UH, WE'VE GOT RETAILERS THAT ARE SAYING WE, WE'D BE THERE, WE'D START TOMORROW IF YOU COULD GET US OUT THERE.
I MEAN, THERE'S REALLY SERIOUSLY GOOD DEMAND.
CHENEY HAD THE OPPORTUNITY, AS I UNDERSTAND IT, TO VISIT WITH SOME WHILE SHE WAS AT ICSC.
UH, SO DON'T JUST TAKE MY WORD FOR IT, SO TO SPEAK.
UM, BUT, YOU KNOW, WE'LL, WE'LL, WE'LL PUSH IT AS HARD AS WE CAN.
OUR PARTNERS ARE ANXIOUS TO GET STARTED.
UM, THE PROJECT IN COLLEGE STATION? YES, MA'AM.
HOW MANY ACRES, TOTAL ACRES WAS THAT? UH, TOTAL ACRES IS RIGHT AT 60 ACRES.
[01:05:01]
AND, AND WE'RE ON OUR, WE'VE JUST OPENED THE THIRD PHASE OF BUILDING DEVELOPMENT.DID YOU SAY SIX ZERO? I DIDN'T HEAR.
DID YOU SAY HOW MANY ACRES? ABOUT 60.
AND SO WHAT WAS THE TIMELINE ON THAT FROM MOU TO AGREEMENTS TO CONSTRUCTION TO COMPLETION OF PHASE ONE? I, I WAS NOT ON THAT PROJECT, SO I CAN'T ANSWER SPECIFICALLY, BUT WHAT I CAN TELL YOU WAS THAT WAS, UH, A LONG STARTUP.
AND THE REASON THAT'S A LONG STARTUP IS 'CAUSE THAT'S ON A GROUND LEASE TO THE TEXAS A AND M SYSTEM.
UH, THE GROUND, THE GROUND IS A AND M LAND, AND, AND WE'RE ON THE GROUND LEASE.
SO THERE, THERE OUR LANDLORD AND OUR PARTNER TO A CERTAIN DEGREE IN THAT PROJECT.
AND CAN YOU SPEAK TO THE FUNDING ASPECT? I MEAN, DID YOU GUYS, IS THAT AN MMD DID? HOW DID YOU DO THAT? HOW DID YOU EXECUTE THAT ASPECT OF THE DEVELOPMENT? THE, UH, FUNDING IS ALL PRIVATE AND, AND I'M, I DON'T REMEMBER WHAT THE UNIVERSITY'S PARTICIPATION IS THERE.
THERE'S NOT AN MMD THERE BECAUSE THE, THE LAND IS OWNED BY THE UNIVERSITY AND BECAUSE OF THAT, IT, THE MMD DIDN'T MAKE SENSE.
WE LOOKED AT IT, BUT AT THAT TIME THEY JUST DIDN'T MAKE SENSE.
SO THEY JUST, THAT'S JUST THEIR INFRASTRUCTURE.
THEY FUNDED THE INFRASTRUCTURE, DEVELOPERS, THE INFRASTRUCTURE, ALL, ALL OF THE INFRASTRUCTURE THAT YOU SEE AS PART OF THAT PROJECT IS SITE SPECIFIC.
THE MMD IS ONLY FOR FINANCING, PUBLIC INFRASTRUCTURE, WATER, SEWER, DRAINAGE, PUBLIC STREETS THAT THE CITY ENDS UP OWNING.
IN MY PROJECT IN HOUSTON, THE EAST RIVER PROJECT, WHICH IS 150 ACRES, WE HAVE A MUNICIPAL MANAGEMENT DISTRICT, AND IT, IT CONSTRUCTED, WE, WE ADVANCED THE MONEY.
IT CONSTRUCTED WATER, SEWER, DRAINAGE, PAVING IMPROVEMENTS, AS WELL AS HIKE AND BIKE TRAILS AND PARK FACILITIES.
THE, UH, MANAGEMENT DISTRICT, WE, WE HAVE A DEVELOPMENT FINANCING AGREEMENT, OR I CALL IT INFRASTRUCTURE FINANCING AGREEMENT, UH, WITH THE DISTRICT THAT SAYS, WE WILL ADVANCE THE MONEY AND YOU WILL PAY US BACK FROM TAX REVENUE, EITHER DIRECT TAX 'CAUSE IT'S A TAXING ENTITY OR REVENUE SHARING.
IT HAS A REVENUE SHARING WITH THE TURS THAT THE PROPERTY IS IN.
AND SO THE DISTRICT GETS 85% OF, AND THIS IS ALL PUBLIC, SO I'M NOT TELLING YOU, YOU KNOW, WELL, I WOULDN'T EXPECT YOU TO TELL ME ANYTHING THAT WASN'T PUBLIC
OKAY, THANKS FOR CLARIFYING THOUGH.
THE, THE, THE DISTRICT GETS 85% OF ALL THE MARGIN INCREASE FROM THE TURS, RIGHT.
YOU CAN ALSO DO THAT IF THE COUNTY WOULD LIKE TO PARTICIPATE, YOU COULD DO THAT WITH THE COUNTY AS WELL.
THE, UM, AND THEN THE, AND THEN THE DISTRICT AND, AND WE'VE STARTED RECEIVING, UM, TURS MONEY.
AND THEN THE DISTRICT CAN ALSO LEVY BONDS EITHER AS REVENUE BONDS BASED ON THE TURS MONEY OR DIRECT TAX BONDS.
NOW, ONE OF THE THINGS THAT WE DID FOR EARLY ON, AND WE WOULD DO IN THIS SITUATION IF WE WERE TO GO THAT ROUTE, IS DO A VERY, UH, YOU KNOW, LOOK AT THE MARKET AND DO A MARKET SENSITIVITY ANALYSIS.
WE DETERMINED THAT WE COULD ONLY GO 25 CENT TAX RATE IN THAT DISTRICT WITHOUT PUTTING OURSELVES AT A MARKET DISADVANTAGE FOR RENTS, WHETHER IT'S OFFICE RENTS, RETAIL RENTS, RESIDENTIAL RENTS, OR WHATEVER.
I'M COMPETING WITH THE GUY ACROSS THE STREET THAT DOESN'T HAVE THAT, BUT HE DOESN'T HAVE THE QUALITY OF DEVELOPMENT.
I'VE GOT, HE DOESN'T HAVE THE AMENITIES, THE PARKS AND ALL THE THINGS THAT WE'RE DOING.
SO WE, WE, LAST MONTH THE DISTRICT ISSUED ITS FIRST ROAD BOND ISSUE BASED ON A 15 CENT TAX RATE.
AND WHAT PERCENTAGE OF THAT, OF THAT PROJECT THAT YOU'RE TALKING ABOUT IS RESIDENTIAL VERSUS COMMERCIAL IN TERMS OF, AND BY RESIDENTIAL I DON'T MEAN RENT.
I MEAN PEOPLE WHO ARE ACTUALLY HOMEOWNERS IN THAT, I'M ASSUMING THE, THIS TOWN HOME PORTION OF THIS DEVELOPMENT PROJECT THAT WE'RE LOOKING AT HERE WOULD BE, THOSE WOULD BE FOR SALE UNITS.
THOSE WOULD NOT BE A MULTIFAMILY RENTAL APARTMENT COMPLEX SITUATION.
AND I, AND I HAVE GIVEN A GREAT DEAL OF THOUGHT TO THAT SINCE LAST THURSDAY NIGHT.
SO I KNOW THERE'S VERY, VERY LITTLE, AND IF ANY INVENTORY IN, IN HU TO AT ALL FOR TOWN HOMES FOR SALE RIGHT NOW.
BUT I'M ALSO VERY SENSITIVE TO THE PERCEPTION OF DOUBLE TAXATION BY HOMEOWNERS.
AND I WOULD SAY, YOU KNOW, MAYBE WE LEAVE THAT OUT OF THE MMD.
[01:10:01]
WELL, THE ONLY REASON I'M ASKING THESE QUESTIONS IS JUST BECAUSE I HAPPEN TO LIVE IN A PIT HERE IN HUDA, AND I KNOW THAT MY PID FEE IS NOT A TAX DEDUCTIBLE AGAINST MY FEDERAL INCOME TAX FOR THAT'S CORRECT.UM, AND SO THAT'S $2,500 A YEAR THAT I'M JUST LIKE, HERE YOU GO.
AND IN, YOU KNOW, AS A RESIDENTIAL REAL ESTATE BROKER, UM, WHO ALSO DOES COMMERCIAL PROJECTS, BUT, UH, THAT IS, TO ME, IT'S KIND OF AN EQUITY THIEF, RIGHT? FOR A HOMEOWNER.
UM, YOU'RE KIND OF SETTLING THOSE, UH, SADDLING THOSE PEOPLE WITH THAT FEE.
AND WHILE IT IS CONSISTENT AND IT DOESN'T VARY BASED ON PROPERTY VALUATION, IT'S STILL A CONSIDERABLE COST WHEN YOU'RE SITTING DOWN WITH A BUYER AND YOU'RE SAYING, LOOK, THERE'S THIS THING ASSOCIATED WITH THIS PROPERTY, UM, WHEREAS AN MMD AND MY UNDERSTANDING IS THAT THAT IS A TAX AND THAT THAT THEN WOULD BE A TAX DEDUCTIBLE, UM, ITEM ON YOUR FEDERAL INCOME TAX.
AM I RIGHT IN SAYING THAT OR? WELL, I'M, I'M NOT, I MEAN, I'M NOT A C I'M, SO I DON'T, I'M NOT A TAX LAWYER, BUT THAT'S ALWAYS BEEN MY UNDERSTANDING, RIGHT.
YOUR HOMEOWNER'S ASSOCIATION OR PROPERTY OWNER'S ASSOCIATION FEES ARE ALSO NOT TAX DEDUCTIBLE.
AND ONE OF THE THINGS THAT I'M DOING IN EAST RIVER IS, UM, BALANCING FOR LACK, THERE ARE OTHER WORDS I I'M GONNA USE BALANCING, UH, THE DUTIES BETWEEN THE PROPERTY OWNER'S ASSOCIATION AND THE DISTRICT.
SO, SO THAT WE DON'T HAVE AS BIG A BURDEN ON THE PROPERTY OWNER'S ASSOCIATION.
LET THE DISTRICT DO IT, BECAUSE AGAIN, RIGHT.
BUT YOU STILL NEED TO HAVE A, A PROPERTY OWNER'S ASSOCIATION.
THAT, THAT'S PART OF THE M OOU RIGHT.
YOU KNOW, CALLS FOR US DOING THAT ALONG WITH OUR DEED RESTRICTIONS.
LIKE, AND, YOU KNOW, MAYBE I SHOULD ALREADY KNOW THIS, BUT I DON'T, UM, BECAUSE I'VE NEVER WORKED IN A, WITH A COMMERCIAL PROJECT THAT HAD A P UH, HOW DO FOR THE RECORD, NEITHER HAVE I.
SO HOW DO YOU KNOW, SO THEN MAYBE YOU CAN ANSWER THIS QUESTION, BUT IF I'M A COMMERCIAL BUYER OR DEVELOPER OR, YOU KNOW, I WANNA LEASE SOME LAND OR BUY SOME LAND TO BUILD A, A PROPERTY WITHIN A A PI, UM, AS A COMMERCIAL PROPERTY OWNER, I WOULD HAVE TO THEN PAY THOSE FEES AND THEY WOULD NOT BE ANY KIND OF TAX DEDUCTION, OR THAT IS CORRECT.
SO I WOULD HAVE TO MAKE SURE THAT I WOULD HAVE REVENUE AGAINST THOSE FEES IN ORDER FOR THAT TO BE A VIABLE PROJECT FOR ME.
IT, IT WOULD CERTAINLY FIGURE INTO ANYBODY'S CALCULATION.
AND, AND SINCE THOSE WERE, YOU KNOW, THE DEVELOPER'S GONNA PASS THROUGH TAXES AND OTHER ASSESSMENTS TO THE TENANT, THAT, AND THE TENANT IS GONNA BE LOOKING AT THAT TOO.
FROM A RENTAL STANDPOINT AND ALL OF THAT.
SO, I HAVE ONE OTHER LAST QUESTION.
UM, SO BACK WHEN YOU WERE TALKING ABOUT PHASE ONE AND, YOU KNOW, CREATING DEMAND MM-HMM
CAN YOU TALK JUST A LITTLE BIT MORE ABOUT THAT AND JUST KIND OF LIKE WHAT THAT LOOKS LIKE FROM A, I HAVE KIND OF A MARKETING BRAIN TOO, SO JUST LIKE FROM A, A MARKETING, LIKE WHAT, WHAT IS IT SPECIFICALLY SPECIFIC TASKS AND TIMELINES RELATED TO, UH, DRIVING DEMAND? LIKE WHAT DOES THAT LOOK LIKE? CAN YOU JUST GIVE US MORE DETAILS ON THAT? WELL, BEFORE WE, BEFORE WE'RE OUT THERE TURNING DIRT, WE'RE GONNA BE, UH, DOING AN AWFUL LOT OF MARKETING IN THE SENSE OF ANNOUNCING THE PROJECT AND, AND TRYING TO DRIVE OR BUILD EXCITEMENT ABOUT IT.
UH, MARKET AWARENESS, IF YOU WILL.
AND WHAT DO YOU LIKE, WHAT DO YOU MEAN SPECIFICALLY? LIKE PR CAMPAIGNS, BRANDING CAMPAIGNS, WEBSITES, LIKE WHAT, WHAT SIGN? SIGNAGE, DEFINITELY A WEBSITE.
UM, AND, AND IF YOU GO TO OUR, UH, OUR COMPANY'S WEBPAGE, YOU CAN GO TO ALL OUR PROJECTS AND LOOK AT THE PROJECTS WEBSITES.
THE, UM, BUT IT, IT'S, IT'S STARTING OFF JUST, THIS IS COTTONWOOD, WE'RE HERE, THIS IS WHAT'S COMING.
YOU KNOW, AND IT'S, AND IT'S JUST WORKING REAL HARD TO GET PEOPLE EXCITED.
AND AT THE SAME TIME, BEING ABLE TO ANNOUNCE, WE STARTED CONSTRUCTION ON THE INFRASTRUCTURE AND TWO DAYS LATER WE STARTED CONSTRUCTION ON THE FIRST PHASE OF RETAIL.
AND THEN AS SOON AS WE CAN, WE STARTED CONSTRUCTION ON THE NEXT, ON THE, UH, FIRST MULTIFAMILY PROJECT OR, AND WHATEVER IT MAY BE.
WE STARTED, WE WE'RE WORKING WITH THE CITY TO START CONSTRUCTION ON THE CRIMINAL JUSTICE CENTER,
SO I KNOW THAT THE CITY'S DONE A LOT OF, AND THE PARKS HAVE DONE A LOT OF SURVEYS OUT TO, UM, HU CITIZENS AT LARGE ABOUT WHAT THEY WOULD LIKE TO SEE.
AND I KNOW THAT TRAILS AND BALL FIELDS AND THINGS OF THAT NATURE ALWAYS, YOU KNOW, USUALLY RANK PRETTY HIGH.
UM, AS YOU'VE STARTED DOING THE LAYOUTS AND, AND WHATNOT, HOW, HOW MUCH TIME HAVE YOU SPENT WITH PARKS? HAVE YOU SPENT TIME WITH THEM, UM, SO FAR JUST TO SEE, KIND OF GET THEIR FEEDBACK AND THEIR INPUT? IF, IF WE SPENT TIME WITH YOUR PARKS DEPARTMENT? YES.
[01:15:01]
THAT, THAT'S COMING.IT'S COMING REAL QUICK, BUT WE HAVE NOT DONE THAT YET.
I WAS WONDERING IF YOU HAD INPUT ALREADY FROM THEM BASED ON WHAT WE'VE HAD INPUT FRONT OF US, JUST BY, UH, REVIEWING, YOU KNOW, EVERYTHING THAT YOU'VE GOT THAT'S IN YOUR MASTER PLAN, YOUR GOALS AND VISIONS FOR THE CITY.
CERTAINLY CHENEY, ASHLEY, AND SARAH HAVE BEEN VERY INFORMATIVE WITH I'VE MET WITH THEM AND TALKED ABOUT THESE ISSUES.
THAT'S WHERE THE ATHLETIC BALL FIELDS CAME FROM.
SAID WE DON'T NEED BASEBALL FIELDS, WE NEED ATHLETIC FIELDS, ATHLETIC FIELDS,
AND I, AND I THOUGHT IT WAS A GREAT, VERY SMART IDEA.
SO IN REGARDS TO THE PARKS, SO DIDN'T WE HAVE A DISCUSSION, UM, EARLY ON WITH A COMMITTEE THAT WAS, UH, MEETING WITH YOU ON, UM, SOME SORT OF AN AREA WITHIN THIS, UM, THIS PLOT THAT YOU WOULD HAVE WHERE PEOPLE COULD WALK, SIT OUTSIDE, DO OH, YEAH.
WELL, THAT'S NOT A GOOD PICTURE OF IT.
THE, IT'S, IT'S A BIG PICTURE ON A VERY SMALL SCREEN, BUT LEMME GO BACK TWO MORE.
YOU SEE THE GREEN RIBBON MM-HMM
THAT GOES THROUGH THE PROPERTY.
THAT WOULD BE, UM, A MAJOR TRAIL.
AND THE REASON I SAY MAJOR TRAIL IS BECAUSE IT WOULD PROBABLY ALSO, AND AGAIN, WE'RE STILL IN THE VERY MUCH PRELIMINARY PLANNING AND DESIGN, IT WOULD ALSO DOUBLE AS A SANITARY SEWER REASON, WHICH IS ONE WAY WE GET THE DRAINAGE FROM NORTH OF MAGGARD DOWN TO THE CREEK, BUT IT WOULD BE A FAIRLY WIDE HIKE AND BIKE TRAIL, UM, BENCHES, LANDSCAPED.
AND THEN WITHIN THE, WITHIN THE PROJECT, THERE'LL BE FINGERS OF THAT GOING OFF TO DIFFERENT LITTLE, UH, POCKET, WHAT I CALL POCKET PARKS, LITTLE OPEN SPACE, GREEN AREAS WHERE PEOPLE, YOU KNOW, A BEAUTIFUL DAY.
YOU DON'T WANNA SIT IN THE CAFETERIA IN THE OFFICE BUILDING OR WHATEVER.
YOU GO OUTSIDE OR IT MIGHT BE, UH, A RESTAURANT YOU, THERE'S, IT'S HARD TO SEE, BUT IS THERE A THIN GREEN LINE THAT GOES DOWN BETWEEN CAROL AND KATE'S? AND, AND THAT WOULD BE ANOTHER, UH, PAR TRAIL CONNECTION GOING THROUGH THOSE PARCELS.
SO WE'RE, WE'RE BIG BELIEVERS IN TRAILS EAST RIVER.
I'VE GOT 6,000 LINEAR FEET OF HIKE AND BIKE TRAIL THAT'S GONNA BE ALONG THE BAYOU PLUS TRAILS THAT GO UP INTO THE PROJECT CONNECTING PARKS.
AND AS FAR AS INCORPORATING THE CULTURE, I KNOW YOU HAD MENTIONED SOMETHING EARLIER ABOUT, UM, JUST LOOKING AT THE GROUND LEVEL.
UM, I WOULD THINK THAT YOU'D ALSO HAVE AN EYE OPEN FOR INTEGRATING SOME OF THE CULTURE IN THE AREA.
AND WE HAVE A LOT OF LOYALTY, YOU KNOW, OF GENERATIONS HERE TO THE CITY.
AND IT WOULD BE GREAT TO BUILD UPON THAT.
THAT'S AS, AS WE'RE, AS WE'RE WORKING ON THE POD, THAT'S WHERE WE'RE REALLY GONNA START WORKING ON COMPILING THAT KIND OF INFORMATION.
UM, ALONG WITH SOME OTHER THINGS.
AND I, AND I KIND OF JOKINGLY, BUT NOT ENTIRELY SAID, YOU KNOW, MAYBE WE COULD DIG OUT PART OF COTTONWOOD CREEK AND BRING SOME HIPPOS AND HAVE REAL HIPPOS,
I MEAN, WE, WE, WE LOVE THAT IDEA.
LIKE A ZOO
BUT NO, I, THERE, THERE IS A LOT OF HISTORY HERE.
AND, UM, I, I LEARNED RECENTLY, UH, THAT MY GREAT, GREAT UNCLE WAS A PRESBYTERIAN MINISTER HERE BACK IN THE FIRST HALF OF THE LAST CENTURY.
SO NOT, I'M, I'M NOT CLAIMING I'M FROM HATTO OR HAVE ROOTS IN HATTO, BUT I THOUGHT THAT WAS KIND OF INTERESTING.
'CAUSE IF YOU MAY REMEMBER FROM THE ORIGINAL, UH, RFP PRESENTATIONS, BRAD MADE THE COMMENT THAT HE SPENT AN AWFUL LOT OF TIME THAT HIS GRANDPARENTS PLACED JUST OUTSIDE OF TAYLOR MM-HMM
SO, UH, NOW WE'RE, WE'RE VERY AWARE OF AND RESPECTFUL OF THE HISTORY MM-HMM
AND, AND WANT TO MAKE SURE WE INCORPORATE THAT INTO WHAT WE'RE DOING.
SO WHEN WE WENT TO THE CONFERENCE IN LAS VEGAS, WE HEARD FROM A MASTER PLANNER THAT HAD THE IDEA AND HAD IMPLEMENTED A DESIGN WHERE HE WOULD INTEGRATE THE CULTURE THROUGHOUT THE ENTIRE AREA, SOMEHOW WEAVE IT ALL TOGETHER.
I WOULD THINK THAT THAT WOULD BE SOMETHING THAT YOU, ONE OF THE, ONE OF THE THINGS THAT, UM, WE, WE ARE, WE'RE WORKING WITH, UH, BUFFALO BIO PARTNERSHIP, WHICH IS A ENTITY IN, UM, IN HOUSTON THAT IS DOING LARGE LINEAR PARKS ALONG THE BAYOU.
WE HAVE A MILE OF IT, SO WE'RE RESPONSIBLE FOR THAT.
BUT ONE OF THE THINGS THAT THEY'VE DONE IN OTHER AREAS IS HAVE, UM, POINTS
[01:20:01]
OF INTEREST, IF YOU WILL.YOU'VE SEEN 'EM IN PARKS AND THINGS THAT HAVE KIND OF PICKED SOME PICTURES ENGRAVED, AND THEN THE HISTORY OF THAT PARTICULAR AREA OR, OR THE, UH, FLORA AND FAUNA.
UH, WHAT, WHAT YOU'RE LOOKING AT IN TERMS OF PLANTS AND THINGS.
THOSE ARE THE KIND OF THINGS WE TRY TO INCORPORATE INTO ALL OUR PROJECTS.
WE ARE ALSO, UH, VERY BIG BELIEVERS IN PUBLIC ART.
AND THAT WOULD BE PART OF OUR PROGRAMMING AS WELL.
AND WHEN I SAID PROGRAMMING EARLIER, I, I'M, I'M DIDN'T, I DIDN'T, I MAY WANT, UH, I MAY DIDN'T REALLY DIVE INTO THAT, BUT LET ME KIND OF EXPLAIN.
EVERY TIME WE TAKE ON A NEW SITE DEVELOPMENT, SITE DEVELOPMENT BEING A SPECIFIC SITE, AS OPPOSED TO THE MASTER PLAN DEVELOPMENT, WE, WE LOOK AT, OKAY, WHAT'S THE BEST WAY TO, UH, PROGRAM THIS PROPERTY? IN OTHER WORDS, WHAT KIND OF RETAIL FITS HERE? WHAT KIND OF RETAIL TENANTS GO TOGETHER AND WOULD FIT HERE? WE DON'T, WE DON'T JUST GO OUT AND LEASE RETAIL.
WE LIKE TO SAY THAT WE CURATE RETAIL.
IT'S VERY IMPORTANT TO MAKE SURE YOU'VE GOT THE RIGHT TENANT MIX.
UM, AND, AND, AND
'CAUSE YOU WANNA MAKE SURE THAT WHAT THOSE TENANTS ARE GONNA DISTURB THE RESIDENCES ABOVE AND THE RESIDENCES ABOVE ARE RESPECTFUL OF THE RETAIL.
SO THERE'S A GREAT DEAL OF FUNDING THAT GOES INTO HOW THOSE THINGS FIT TOGETHER.
FOR EXAMPLE, ON IF, IF YOU LOOK AT THIS PLAN WHERE LIVE OAK, INTERSEX, CARROLL WAY, THERE'S KIND OF A, NOT, NOT REALLY A TRIANGLE, BUT THERE'S A SITE THERE THAT WE'VE DESIGNATED AS A GREAT HOTEL SITE.
AND WHEN THE TIME COMES THAT THE MARKET SAYS WE NEED A HOTEL, AND WE'VE, WE'VE TALKED, TALKED ABOUT HOTELS AND WHAT THE EXPECTATIONS MIGHT BE HERE.
AND OF COURSE ALL OF THIS, ALL OF THIS IS, GOES THROUGH CITY APPROVAL.
SO YOU GET A SAY IN IT AS DOES, YOU KNOW, THE PLANNING AND ZONING.
UM, BUT OKAY, HOW DO WE ORIENT THIS HOTEL? AND WHAT KIND OF FLAG DOES IT NEED TO BE? ARE WE GONNA BUILD IT AND OPERATE IT OURSELVES? OR DO WE WANT TO WORK WITH ONE OF THE BIG, THE MAJORS AND, AND HAVE THEM DO IT? SO WE, YOU KNOW, WE ALWAYS LOOK FOR THE BEST OPPORTUNITY AND THE BEST OPERATOR ON A PROPERTY, BECAUSE AGAIN, WE THINK WE'RE REALLY, REALLY GOOD AT WHAT WE DO.
BUT, AND I HATE TO ADMIT IT, BUT WE'RE NOT THE ONLY ONES.
SO I WENT TO VISIT, UH, MY HOMETOWN IN EL PASO RECENTLY, AND THEY HAD A CENTER THERE THAT'S CALLED FOUNTAINS OF FARAH.
AND IT'S, UH, I, I DON'T KNOW, THERE MUST BE A NAME FOR THE DESIGN, BUT THEY HAD STORES AND HOTELS AND MEDICAL CENTERS, UH, ALONG ON, ON BOTH SIDES OF THE ROADWAY.
BUT IN BETWE, IN BETWEEN THE TWO ROADWAYS, THEY HAD LIKE A PARK-LIKE, UH, DESIGN WHERE YOU COULD SIT OUTSIDE, THERE WOULD BE FOUNTAINS, THERE WOULD BE A, A PLACE WHERE THE KIDS COULD, COULD SIT IN THE GRASS, FAMILIES COULD JUST, UH, ENJOY THE DAY, LIKE WE TALKED ABOUT EARLIER.
AND IT WAS A VERY UNIQUE DESIGN.
I'D NEVER SEEN ANYTHING LIKE THAT BEFORE.
IT IT, AND IT INCORPORATED THE SOUTHWEST YOU, THE SOUTHWEST AND THE HISPANIC, 'CAUSE IT'S A SPANISH DOMINANT CITY.
SO IT, IT, UH, REALLY REFLECTED A LOT OF THE CULTURE IN EL PASO.
IT WAS A VERY MODERN, BUT YET AT HOME YOU FELT THAT HOME, YOU FELT CONNECTED.
YOU FELT, HEY, THIS IS A GREAT PLACE TO SPEND SOME TIME.
I, I, I HATE TO ADMIT THIS, BUT EL PASO IS THE ONLY CORNER OF TEXAS I'VE NEVER BEEN TO THIS, THIS ALMOST GIVES ME AN EXCUSE TO GO OUT TO SOUTHWEST, GET ON A HOBBY, GET ON A SOUTHWEST, A HOBBY, GET ON SOUTHWEST AND FLY OUT THERE ON A SATURDAY, LOOK AT IT, AND THEN COME BACK.
SERIOUSLY, I MIGHT JUST DO THAT, BUT PLEASE SEND ME THE LINK.
UM, AGAIN, I'M NEW HERE, SO I APOLOGIZE IF YOU'RE REPEATING YOURSELF FROM THE PAST.
UM, THIS, YOU KNOW, RETAIL CENTER ON THE HARD CORNER, IS THIS WHERE YOU INTEND TO START YOUR FIRST PHASE? THAT, THAT, THAT WOULD BE THE FIRST PHASE.
THAT'S WHAT I'M GETTING FROM THIS.
AND PART OF, AND PART OF WHAT'S DRIVING THAT IS THE, YOU KNOW, WE, WE SEE THE REALIGNMENT OF MAKERS BEING IMPORTANT MM-HMM
ONE, IT, IT HELPS DEFINE THOSE SITES.
BETWEEN 1 32 AND KATE MM-HMM
UH, BUT ALSO IT, IT SETS THE CRIMINAL JUSTICE CENTER IF THE CITY WANTS IT THERE.
UH, IT SETS IT UP FOR MOVING FORWARD QUICKLY.
UH, BUT THAT THE RETAIL ALONG WITH THE MULTIFAMILY BEHIND IT WOULD KIND OF BE THE FIRST VERTICAL PHASE.
[01:25:01]
IS JUST, I, I APPRECIATE THE VISUALS THAT YOU INCLUDE HERE.UM, IT'S NOT SOMETHING YOU OFTEN GET TO SEE THIS EARLY, BUT, UM, WHAT I, WHAT I TRY TO ENVISION WITH EVERY MASTER PLANNED DEVELOPMENT IS SORT OF AN ECOSYSTEM AND HOW DIFFERENT PARTS OF IT FEED OFF THE OTHER ONES.
AND I, IT FEELS A LITTLE BIT COMPARTMENTALIZED IN THAT IF YOU START WITH ALL OF THIS RETAIL, AND THEN IS THERE A FOCAL POINT WITHIN THIS RETAIL DEVELOPMENT THAT YOU'RE STARTING WITH, WHERE IT FEELS LIKE A COMMUNITY CENTER? IS THERE, LIKE, IS THERE GREEN SPACE IN HERE? I, I MEAN, YEAH.
IT'S, IT'S, YOU CAN'T, DO YOU HAVE ANY LIKE, CONCEPTUAL ELEVATIONS THAT YOU MIGHT BE ABLE TO PROVIDE TO WHERE WE COULD SAY, OH, OKAY.
YOU KNOW, 'CAUSE WHILE WE'RE ENJOYING THIS COM, YOU KNOW, THIS COMMERCIAL CENTER THAT YOU'RE STARTING WITH, YOU KNOW, YOU'LL BE ABLE TO WORK ON ALL THE OTHER THINGS AND WE WON'T HAVE TO WAIT TO REALLY ENJOY KIND OF THE, YOU KNOW, THE WHOLE IDEA OF THIS DEVELOPMENT IN GENERAL.
I MEAN, I DON'T WANNA BRING UP UP THE DOMAIN, BUT THE DOMAIN DID A SIMILAR THING.
THEY CREATED A, AN EPICENTER AND THEN THEY KIND OF BUILT OUT FROM THERE AND THEN CREATED LITTLE POCKETS OF REALLY COOL, UM, AREAS SO THAT THERE WAS SOMEWHERE TO GO IN EACH PART OF IT.
BUT I'M JUST, YOU KNOW, WHEN YOU FINISH THIS HARD CORNER, HOW IS THE TRAFFIC FLOW GONNA WORK WHEN YOU'RE WORKING ON THE BACK PIECE? AND, AND, UM, HOW ARE YOU GETTING YOUR DEVELOPMENT GUYS AROUND ALL OF THIS ONCE YOU FINISH WITH THIS FIRST PHASE? WELL, TO A CERTAIN DEGREE, UH, IT'S, IT'S NOT IN THE MIDDLE.
YOU KNOW, ON ONE SIDE, SO TO SPEAK MM-HMM
AND SO IT DOES, IT, THE, THE OPERATIONS OF THAT CENTER WON'T IMPEDE DEVELOPMENT OF THE OTHER PARCELS THAT YOU SEE.
SO IT, IT, IT'S A LITTLE CLEANER, IF YOU WILL.
BUT IN, AND IN TERMS OF RENDERINGS AND OTHER THINGS, WE'LL PROVIDE THOSE AS SOON AS THEY'RE AVAILABLE.
I MEAN, WE'VE GOT SOME VERY PRELIMINARY STUFF.
I DIDN'T LIKE IT AND I SAID, NO, WE'RE NOT DOING THAT.
AND SO, UH, WE'RE, WE'RE HAVING THOSE DESIGN DISCUSSIONS ONGOING ALMOST WEEKLY.
DO YOU KNOW WHEN WE CAN POSSIBLY EXPECT TO SEE, YOU KNOW, SORT OF A VISION AS FAR AS LIKE ELEVATIONS? LET, LET, LET ME GET WITH MY TEAM AND I'LL GET BACK TO YOU ON THAT FOR SURE.
CAN, CAN I SEND EVERYTHING TO CHENEY AND SHE FROM? YES.
YEAH, SO ON THAT NOTE, UM, AND I'LL, I'LL, UH, I GET TO SAY ALSO I'M NEW HERE.
UM, AT THE SAME TIME, YOU KNOW, I MET MIDWAY A YEAR AGO AND YOU SAID, YOU KNOW, THIS TAKES, THIS IS A LONG PROCESS, IT TAKES A WHILE.
UM, BUT MAN, I FEEL LIKE WE'RE DOING A, A DANCE HERE.
YOU KNOW, WE KEEP TALKING ABOUT WHAT COULD BE THE VISION, THE CONCEPTUAL AND ALL THOSE SORTS OF THINGS.
AND, AND WHAT I'M WANTING TO SEE IS I WANNA SEE A SITE PLAN.
WHERE ON THAT, WHERE ON THAT SCHEDULE, ON THAT GANTT CHART? ARE WE GETTING SOME, I GUESS SOME HARD LINE INFORMATION? PUD, PUD APPLICATION.
SO IT, IT'LL, IT'LL HAVE ARCHITECTURAL GUIDELINES, IT'LL HAVE, UH, STREETSCAPE PLANS.
IT'LL HAVE ALL THOSE THINGS THAT YOU'RE LOOKING FOR, SO TO SPEAK.
IF YOU, AND THIS CAN BE RHETORICAL AND YOU CAN GIVE INFORMATION TO CHENEY AS WELL, IF, IF NEED BE.
BUT WHAT DO YOU NEED FROM US? 'CAUSE WHAT I HEAR YOU SAYING A LOT IS, AND I DON'T KNOW IF YOU MEAN STAFF, THIS BOARD, CITY COUNCIL, I DON'T KNOW WHAT YOU MEAN, BUT YOU KNOW, YOU SAY CITY, CITY, THIS CITY THAT CITY WANTS THIS, CITY WANTS THAT.
WE'RE WAITING FOR CITY ON THIS.
WE'RE WAITING FOR CITY ON THAT.
WHAT, WHAT ARE WE, WHAT DO YOU NEED FROM US? WELL, I FEEL LIKE I, WHAT'S GONNA MAKE YOU BREAK DIRT SOONER? UM, THE THING THAT WILL MAKE US BREAK DIRT SOONER IS GETTING ALL THROUGH ALL THESE PROCESSES QUICKER.
UM, NOT, NOT GOING THROUGH THREE OR FOUR REVIEWS SURE.
OF A SET OF CONSTRUCTION PLANS, WHETHER IT'S FOR HORIZONTAL OR VERTICAL.
UM, GENERALLY SPEAKING, CITIES HAVE STATUTORY REQUIREMENTS THAT THEY HAVE TO MEET WITH RESPECT TO, UH, PLATTING IN STATE, THERE'S A LOT OF RED TAPE
SO ANY, ANYTHING THAT THE CITY CAN DO TO HELP EXPEDITE THAT PROCESS JUST GETS US TO THE GAME FASTER, GETS US ON THE FIELD FASTER, SO TO SPEAK.
AND CAN I JUST, I'LL BE MORE BLUNT, WHICH I KNOW YOU WILL APPRECIATE.
WE NEED COMMITMENT FROM ALL OF THE DEPARTMENT HEADS THAT WOULD BE INVOLVED IN APPROVING AND REVIEWING THESE THINGS TO MEET WITH THIS TEAM AT PUT APPLICATION AND SAY, YES, NO, MAYBE, SO TWEAK IT HERE, DO THE THINGS AHEAD OF IT, BECAUSE THEN WE'RE NOT WASTING A SUBMITTAL WITH COMMENTS, SUBMITTAL WITH COMMENTS.
WHILE THAT DOESN'T APPROVE THE PLAN, IT GIVES THIS TEAM A LOT MORE TO GO ON BEFORE THEY EVEN PUT IN THEIR FIRST SUBMITTAL.
SO WE'VE GOT KIND OF PRE COMMENTS FROM THE LEADERS OF THE TEAMS THAT ARE GONNA BE REVIEWING THESE THINGS AND CAN CATCH A LOT OF THAT STUFF.
SO WE'RE NOT GOING BACK AND FORTH ON COMMENTS.
SO THAT MEETING THAT I JUST MENTIONED
[01:30:01]
IS DONE IN OTHER COMMUNITIES AND IT IS A VERY ATTRACTIVE PIECE ON A RECRUITMENT STANDPOINT.SO I'M JUST GLEANING FROM THAT AND SAYING, THAT WOULD BE HELPFUL HERE AS WELL.
IF WE CAN COMMIT TO, THERE'S A FIVE DAY REVIEW TIME, FIVE BUSINESS DAY, YOU SUBMIT BY THE DEADLINE ON MONDAY, YOU GET COMMENTS BACK BY FRIDAY.
THAT SAVES SO MUCH TIME BECAUSE WHAT I HAVE OBSERVED THUS FAR IS, YOU KNOW, SOMEBODY SUBMITS ON A MONDAY, IT GETS CLOCKED IN, IS RECEIVED BY THE DEADLINE, AND THEN TUESDAY IT GETS REVIEWED FOR COMPLETENESS, AND THEN WEDNESDAY IT STARTS THE REVIEW PROCESS, AND THEN IT TAKES THE, I THINK WE HAVE 15 TO 20 BUSINESS DAYS RIGHT NOW.
SO YOU THINK ABOUT SHORTENING THAT IN HALF OR EVEN IN A THIRD OR FOURTH.
THE OTHER THING I WOULD RECOMMEND IS THAT MAYBE WE PUT SOMETHING IN THERE THAT SAYS IF THERE'S MORE THAN TWO OR THREE COMMENTS, LIKE REVIEW COMMENTS BEFORE AND, AND WE'RE JUST NOT GETTING TO THE APPROVAL, THEN THAT TRIGGERS ANOTHER MEETING WITH THOSE DEPARTMENT HEADS TO SAY, WHAT ARE WE NOT UNDERSTANDING? WHAT ARE WE NOT GETTING? WHAT'S, WHAT'S THE HOLD UP HERE AND THEN ADDRESS IT THEN AND GET IT CLEARED.
SO THOSE TYPE OF THINGS I THINK WOULD GO A LONG WAY JUST IN MY EXPERIENCE WITH OTHER DEVELOPMENTS.
SO THERE'S THE BLUNT ANSWER FOR YOU.
WE NEED FASTER REVIEW TIMES AND AN UPFRONT MEETING TO HELP ANTICIPATE ANY ISSUES BEFORE IT'S EVEN SUBMITTED.
AND THAT MAY BE SOMETHING COUNCIL WOULD WANNA CONSIDER JUST AS A GENERAL PRACTICE FOR ECONOMIC DEVELOPMENT PROJECTS AS WELL, OR AS PART OF INCENTIVES TO, TO HELP DEVELOPMENT GET HERE FASTER.
FOOTNOTE,
DAVID, YOU WANNA STICK AROUND? 'CAUSE I THINK THEY'RE GONNA PULL UP THE OTHER ITEMS. SO IF YOU, IF THEY HAVE QUESTIONS ABOUT IT AND HERE YOU ARE.
SO WITH DAVID PRESENT, UH, IT'S BEEN ASKED THAT WE MOVE ITEM SEVEN ONE UP.
DO WE HAVE ANY OBJECTIONS? HEARING NONE? UM, ITEM SEVEN ONE, DISCUSS AND CONSIDER ACTION ON RESOLUTION R DASH HEDC DASH 2025 DASH 1 32 TO AMEND THE MEMORANDUM ON, OR EXCUSE ME, MEMORANDUM OF UNDERSTANDING WITH MIDWAY TO PROVIDE INDIVIDUAL DEADLINES FOR THE EXECUTION OF THE ASSOCIATED DEVELOPMENT DOCUMENTS.
SO, UH, LOTS OF BACKGROUND INFORMATION PROVIDED FOR Y'ALL IN THE LINK.
AT A PREVIOUS MEETING, THE BOARD DID APPROVE SEPARATING OUT THE DOCUMENTS THAT ARE, UM, INCLUDED IN THE MOU FOR DELIVERABLES.
THE WAY THE MOU IS STRUCTURED, IT HAS ALL THREE OF THOSE DOCUMENTS COMING TOGETHER AT THE SAME TIME, AS YOU CAN SEE FROM THE GANTT CHART THAT WAS PROVIDED TONIGHT, AS WELL AS, UH, PREVIOUS DISCUSSIONS HAD.
THAT'S NOT VERY FEASIBLE AND IT REALLY PUSHES OUT THE DEADLINE TO THE VERY END.
UM, ALSO THERE'S BEEN DESIRE FROM THIS BOARD TO SEE THINGS GO FASTER.
AND SO THE WAY TO DO THAT IS TO BUST THOSE THINGS OUT AND SAY, HERE'S THIS DELIVERABLE BY THIS DATE, HERE'S THIS DELIVERABLE DOCUMENT BY THIS DATE.
AND NOW THAT WE'VE GOT THAT SCHEDULE FROM MIDWAY, I THINK WE CAN REALLY START TO PUT SOME FIRM DATES IN THERE, UM, THAT ARE ACHIEVABLE.
SO THAT'S THE PROPOSAL ON THE TABLE.
I THINK THE DOCUMENT THAT'S BEEN PROVIDED HAS BLANKS FOR THOSE DATES.
'CAUSE UM, OBVIOUSLY WE DIDN'T HAVE THE, THE GANTT CHART AVAILABLE AT THAT TIME.
ALSO WANTED PROVIDE FOR SOME DISCUSSION, UM, SUCH AS SOME OF THE QUESTIONS THAT HAVE ALREADY BEEN ASKED, WHAT CAN WE DO TO MAKE IT GO FASTER? UM, SO DIDN'T WANNA COMMIT TO ANYTHING IN THAT DOCUMENT UNTIL THE BOARD HAD AN OPPORTUNITY TO DISCUSS AS A BODY AND THEN ALSO ENGAGE WITH MIDWAY TO CONFIRM THOSE DATES WERE ACHIEVABLE ON BOTH SIDES AND ACCEPTABLE.
AND THE, THE MOU AS IT STANDS REALLY JUST SEPARATES OUT THE MMD OR MUD PROCESS AND NOT OTHER ASPECTS OF FUNDING.
AND A LOT OF TIMES FUNDING ISN'T NECESSARY COMPONENT FOR THEM TO REALLY COME UP WITH THEIR PLANS ANYWAY.
BUT JUST SO YOU KNOW, THE WAY IT'S WRITTEN RIGHT NOW JUST SEPARATES OUT MMD OR MUD CONVERSATIONS AND PAPERWORK AND NOT OTHER THINGS.
SO IF WE'RE GONNA SEPARATE OTHER THINGS, THEN WE CAN HAVE, GIVE THOSE INSTRUCTIONS AND STILL APPROVE IT AND APPROVE WITH AMENDMENTS.
UM, I JUST WANNA MAKE SURE I'M LOOKING AT THE RIGHT DOCUMENT.
SO IS IT THE DOCUMENT 2025 OR ZERO? SEVEN 14 RESOLUTION HEDC MIDWAY, MOU SECOND AMENDMENT.
THAT WAS THE RESOLUTION FOR IT.
IT SHOULD HAVE THE ACTUAL MU AMENDMENT ATTACHED.
SO THE ACTUAL MOU IS THE, THE MIDWAY MOU, SECOND AMENDMENT DO, DO DOC.
THE SECOND AMENDMENT, LIKE I SAID, IT'S, IT'S THE SAME.
IT JUST TAKES THE SAME MOU LANGUAGE AND IT SAYS, LOOK, WE HAVE ALL THESE DEADLINES FOR EVERYTHING.
WE ARE SEPARATING OUT THE MMD IN THE MUD BECAUSE THAT WAS WHAT WE TALKED ABOUT AT THE PREVIOUS MEETING.
BUT THAT'S THE RESOLUTION WITH THAT DOESN'T HAVE A, IT'S JUST 2025 DASH, BUT THAT SHOULD THAT SAY 1 32 IN CORRELATION WITH THE, UH, AGENDA OR, I JUST WANNA MAKE SURE I'M LOOKING AT THE RIGHT DOCUMENT BEFORE WE START LIKE DIVING IN AND DISCUSSING IT.
THE, THE DOCUMENT IN QUESTION IS, THE FILE NAME IS 2025 DASH SIX, UH, 30 MIDWAY.
[01:35:01]
ACTUAL I GOT IT.THERE'S ALSO ONE THAT'S SEVEN DASH SEVEN 14, SO I JUST WANNA MAKE SURE I WAS LOOKING AT THE RIGHT THING AS WE WERE GOING FORWARD.
THAT'S THE RESOLUTION THAT GOES WITH THE MOU.
YEAH, BOTH, BOTH OF THEM THAT I'M LOOKING AT SITE RESOLUTION ON THEM.
SO I JUST WANNA MAKE SURE I HAVE A FAIR AGAIN, I JUST WANNA MAKE SURE I'M LOOKING AT THE RIGHT DOCUMENT.
YEAH, I THINK YOU GOTTA GO DOWN TO PAGE FOUR OR SOMETHING.
I SEE MY ONLY INPUT, UM, HERE IS THAT, YOU KNOW, EXTENDING IT SEEMS FINE, BUT FOR THE FIRST, AT LEAST THE FIRST PHASE OF CONSTRUCTION DEVELOPMENT, UM, WOULD REALLY LIKE TO SEE A MORE DETAILED SITE PLAN.
JUST SOMETHING THAT'S GOING TO BE SUBMITTED WITH THE PUTT APPLICATION OR, OR WHATEVER YOU'RE, UM, CREATING THAT PRELIM SITE PLAN FOR.
THAT'S GONNA BE REALLY IMPORTANT, UH, FOR ME TO, TO TRULY UNDERSTAND WHAT'S COMING FIRST AND, AND WHAT NEXT STEPS.
THIS IS REQUESTING ONLY TO, JUST TO EXTEND TO JULY 31ST.
IT'S ALREADY EXTENDED TO JULY.
YEAH, THAT WAS THE FIRST AMENDMENT.
SO THAT'S WHY THAT WAS PROVIDED TO YOU THAT YOU GUYS WOULD KNOW, I THINK.
SO THE AMENDMENT, THAT'S NOT ENOUGH TIME, RIGHT? SO THE AMENDMENT ONLY PROVIDES FOR THE CHANGES.
SO I WANTED YOU GUYS TO HAVE THE FIRST AMENDMENT SO YOU COULD SEE WHAT WAS ACTUALLY CHANGED ALREADY.
UM, SO I KNOW IT'S A LOT OF, LOT OF DOCUMENTS WHEN WE START GETTING INTO THE, UH, VARIOUS AMENDMENTS.
BUT I WAS JUST GOING TO, FOR THE SAKE OF CLARITY, UM, JUST BASED ON THE UH, GANTT CHART THAT WAS PROVIDED, IT LOOKS LIKE THE PURCHASE AND SALE AGREEMENT IS PLANNED TO BE DONE BY THE END OF AUGUST.
I HEARD DAVID SAY HE'S HOPING TO HAVE THAT FOR THE AUGUST MEETING, WHICH WOULD BE AUGUST 11TH.
SO I WOULD PROPOSE THAT AS THE, UM, PSA, THE PURCHASE AND SALE OR OPTION AGREEMENT TO BE PRESENTED AND APPROVED BY THE BOARD.
OBVIOUSLY WE'D GO BACK AND FORTH WITH LEGAL, ET CETERA, ON, ON THOSE TERMS, BUT INCLUDING ALL EXHIBITS AND EVERYTHING THAT YEAH, THE EXHIBITS WOULD NEED TO BE INCLUDED.
SOME OF THEM, UH, WHAT'S TYPICAL IN A LOT OF OUR PURCHASE AND SALE AGREEMENTS IS THAT THEY WILL GIVE AN EXHIBIT THAT IS FOR REFERENCE AND THEN ONCE SURVEYS COMPLETED AND THINGS LIKE THAT WHERE THE BOUNDARIES ARE MORE DEFINED, THEN WE UPDATE THAT SHEET.
BUT FOR THE PURPOSES OF REFERENCE, EFFECTIVELY AT THAT POINT IS TO YEAH, PRELIMINARY IS FINE.
IT'S NOT LIKE IT HAS TO BE THE YEP.
UM, SO THAT WOULD BE PROPOSED FOR THAT COMPONENT.
UM, THEN FOR THE MUD APPLICATION, WE DON'T HAVE A LOT OF CONTROL OVER WHEN IT GETS APPROVED BECAUSE THAT'S OUT OF THE HANDS OF THIS BOARD.
PER WHAT'S ON HERE, THE PUT APPLICATION, HAS THAT ALREADY BEEN SUBMITTED? 'CAUSE I SEE MAY ON HERE? NO, IT STARTED WORKING ON IT.
SO YOU'RE GONNA BE READY TO SUBMIT NOT UNTIL JANUARY, OR IS THAT WHEN IT'S GONNA BE DONE? I JUST WANNA MAKE SURE WHAT'S WORKING AND WHAT'S DONE.
SO WHEN DO WE FEEL LIKE THE APPLICATION WILL BE READY TO SUBMIT? OKAY.
DO YOU DO IT LIKE Q4, LIKE UH, NOVEMBER OR SOMETHING LIKE THAT? WELL, THAT'S WHAT I WAS LOOKING AT.
'CAUSE TYPICALLY FROM WHAT I HAVE OBSERVED, USUALLY ABOUT A 90 DAY IS LIKE THE REVIEW AND BACK AND FORTH AND MAKING, GETTING IT THROUGH COUNCIL.
SO I WOULD BACK UP 90 DAYS FROM WHEN THEY'RE SAYING IT.
YEAH, I'M LOOKING AT NOVEMBER LIKE BY, WELL, I GUESS BY THE END OF OCTOBER, HAVING THE PUD APPLICATION IN.
AND THEN OBVIOUSLY THAT WOULD MEAN THAT WHILE THEY'RE WORKING ON IT, WE'RE SEEING THOSE ELEVATIONS AND THINGS LIKE THAT, THAT'S BEING PREPARED FOR THE APPLICATION.
UM, SO THAT WOULD BE PART OF, OF THAT PROCESS JUST TO GET READY TO SUBMIT.
AND IN THE MOU EXTENSION, HOWEVER LONG THAT ENDS UP BEING, SHOULD WE MOVE FORWARD WITH THAT, UM, IT WOULD BE POSSIBLE TO PERHAPS DEFINE A DEADLINE FOR THOSE ITEMS. WE CAN GIVE INDIVIDUAL DEADLINES FOR DIFFERENT THINGS.
UH, AND THEN I THINK THE, THE BIGGEST QUESTION MARK THEN IS THE FINANCING.
UM, I KNOW THEY HAD PLANNED ON PURSUING AN MMD, THE FEEDBACK FROM
[01:40:01]
THE JOINT MEETING, UM MM-HMMUM, SO THEY'RE HAVING TO, TO PIVOT FROM THAT.
UM, JUST TRYING TO LOOK AT ALL THE LEVERS IN HERE AND SEE WHAT, WHAT WOULD MAKE SENSE? WAS IT THAT THE MMD WAS COMPLETELY SHOT DOWN OR WAS IT JUST, HEY, WE NEED BETTER CLARIFICATION, UM, ON AN MMD VERSUS A P TO MAKE SURE THAT THIS IS SOMETHING WE ACTUALLY WANNA DO BECAUSE IT'S SOMETHING THAT HASN'T BEEN DONE IN ATO BEFORE? OR WAS IT AN ABSOLUTE, ABSOLUTE NO, THE LANGUAGE THAT WAS USED WAS NO, UNLESS THEY CAN SHOW THAT THEY NEED THE MMD.
SO I THINK, AND I THINK NEED IS SUBJECTIVE BECAUSE WELL, YOU NEED EITHER ONE OR THE OTHER, BUT YOU CAN'T.
YOU KNOW, YOU CAN'T DO IT WITHOUT ONE OR THE OTHER.
SO MY QUESTION IS, IS IT AN ABSOLUTE NO? OR IS IT A LET'S LEARN MORE, LET'S HAVE MORE DISCUSSIONS AND THEN DECIDE.
UM, BECAUSE THAT, I MEAN OBVIOUSLY THAT AFFECTS THE TIMELINE.
UM, AND THAT'S A COMPLETELY DIFFERENT COLOR ON THE GANTT CHART.
SO I THINK WE NEED SOME DIRECTION FROM COUNCIL ON THAT.
I DID LEARN, JUST TODAY I WAS IN ANOTHER MEETING WITH ANOTHER DEVELOPER FOR THE GATEWAY DEVELOPMENT WOLF TRACK THAT'S GOING IN OFF OF THE, UM, THE SOUTHERN PART OF THE EAST BOCO HIGHWAY.
THEY HAD ACTUALLY WANTED TO PURSUE AN MMD ALSO.
SO I THINK THERE'S MORE THAT WOULD PURSUE THAT IF THEY THOUGHT THAT IT WAS AN OPTION.
SO JUST FROM THAT PERSPECTIVE, STAFF WOULD RECOMMEND THAT COUNCIL KEEP THAT DOOR OPEN AND EVALUATE THOSE ON A CASE BY CASE BASIS FOR THE DEVELOPMENT.
UM, AS WAS SHARED, PIS TYPICALLY ARE IMPOSED ON RESIDENTIAL DEVELOPMENTS.
AND SO AS WE START TO SEE SOME OF THESE LARGER MIXED USE, 'CAUSE THAT IS ALSO A LARGE MIXED USE, IT'S ABOUT 300 ACRES, I BELIEVE, UH, TWO 60, I THINK.
UM, BUT AS WE START TO SEE THAT HERE IN HURO, THIS TOOL MAY BECOME A BETTER FIT FOR SOME OF THESE DEVELOPMENTS TO HELP BRING THEM AND STILL HAVE SOME OF BENEFITS.
EVEN CSC WHEN THEY WERE TALKING ABOUT HOW THERE'S THIS WHOLE URBAN IS URBANIZATION OF THE SUBURBS, RIGHT? MM-HMM
AND SO THESE MIXED USE TYPE DEVELOPMENT PROJECTS BEING FURTHER AND FURTHER OUT ON THE FRINGES OF MAJOR CITIES ARE, YOU KNOW, BECOMING A STANDARD.
AND, YOU KNOW, WE CAN BE INNOVATORS OR WE CAN JUST KEEP DOING THINGS THE SAME WAY WE'VE BEEN DOING THEM.
UM, AND BECAUSE THIS IS AN INNOVATIVE PROJECT, IT'S A DIFFERENT TYPE OF PROJECT.
IT HAS A MIX OF COMMERCIAL AND RESIDENTIAL, I THINK IT BEGS MORE DISCUSSION.
BUT AGAIN, I MEAN, THAT'S UP TO COUNCIL TO DECIDE IF THAT'S SOMETHING THAT THEY WANNA PURSUE.
UM, MY QUESTION IS JUST HOW DO WE MAKE THIS MAKE SENSE FOR THIS AMENDMENT THAT WE'RE TRYING TO DO? UM, GREAT QUESTION.
SO DAVID, I WOULD ASK YOU CURRENTLY ON THAT GANTT CHART, THE MMD CREATION AND INFRASTRUCTURE FINANCING AGREEMENT IS, UH, ANTICIPATED TO BE COMPLETED BY END OF JULY, 2026.
NOW, IT LOOKS LIKE THAT IS CONTINGENT ON OBVIOUSLY THE THINGS IN THE P THAT GET APPROVED 'CAUSE THAT THOSE ARE EXPENSES THAT NEED TO BE CONSIDERED THE TRAFFIC IMPACT ANALYSIS, AND THEN AT LEAST A PARTIAL DESIGN UNDERWAY FOR 79 AND 1 32, UH, AS, AS WELL AS PLATTING, BUT THAT'S NOT AS AS IMPACTFUL.
SO IF MMD IS A NO, DOES YOUR TEAM FEEL CONFIDENT OR COMFORTABLE RATHER DELIVERING THE FINANCING AGREEMENT REGARDLESS OF MMD PID TURS COMBO BY THAT SAME DATE? END OF JULY, 2026.
SO WE'LL, SO EITHER WAY, WHEN WE'RE DOING THE AMENDMENT, WE WILL INCLUDE THE ENTIRE FINANCING AGREEMENT REGARDLESS OF WHETHER IT'S AN MMD AND MUD OR PIT OR CORRECT.
I WOULD JUST SAY MAYBE THE PROJECT FINANCING.
JUST TO COMMENT ON THE MMD VERSUS PI, UM, I THINK ONE OF THE THINGS WE WERE TRYING TO FIGURE OUT IS WITH A PI, IT'S A LITTLE BIT MORE FIXED AS FAR AS ITS IMPACT ON THE RESIDENTS OF HURO, WHEREAS THE MMD TENDS TO BE MORE VARIABLE AS THE DEVELOPMENT GOES ALONG.
AND IT COULD GO IN NOT A GREAT DIRECTION.
IT COULD GO IN A GOOD ONE, BUT IT'S SORT OF NEW FOR EVERYBODY.
AND I THINK THAT, UM, WE'RE GOING WITH WHAT WE FEEL MIGHT HAVE THE MOST POSITIVE OR MOST POSITIVE IMPACT ON THOSE WHO ARE LIVING HERE VERSUS NOT REALLY KNOWING HOW IT'S GONNA GO.
UM, WHICH IS KIND OF, WELL, THERE ARE A LOT.
I MEAN, I SEE WHAT YOU'RE SAYING.
UM, THERE ARE A LOT OF REALLY SUCCESSFUL MMDS AND I THINK IT BEGS MORE DISCUSSION.
[01:45:01]
EXACTLY WHAT THEY ESTABLISHED IN THE MEETING WAS THAT IT'S NO, FOR NOW, SHOW ME WHY IT'S BETTER.SIMPLY PUT, AND AS, I MEAN, AS A, YOU KNOW, AS SOMEONE WHO LIVES IN A PI, I CAN TELL YOU THAT, I MEAN, PERSONALLY I THINK PIS ARE EQUITY THIEVES.
UM, I DON'T, I THINK I GET THE WHOLE FIXED ASPECT OF IT AND IT MAKES SENSE BECAUSE YES, IT'S NOT VARIABLE BASED ON YOUR, UM, PROPERTY VALUATIONS.
UM, BUT ALSO THERE'S, YOU KNOW, THERE'S OTHER LIKE HOMESTEAD RULES AND THINGS OF THAT NATURE THAT DO PROTECT TAXPAYERS FROM A SUBSTANTIAL INCREASE, UM, IN THEIR TAXES BASED ON THEIR PROPERTY VALUATIONS.
UH, WHERE, WHEREAS IN A MIXED USE DEVELOPMENT WHERE YOU'VE GOT COMMERCIAL PROPERTY, COMMERCIAL, UH, PIECES, PARCELS THAT ARE AFFECTED BY THAT, UM, YOU KNOW, THERE'S NOTHING TO DO.
YOU CAN'T WRITE IT OFF ON YOUR TAXES.
YOU CAN'T, THERE'S NOTHING YOU CAN DO WITH IT.
SO I THINK IT DOES BEG A, A MORE INNOVATIVE APPROACH, UM, AN OPPORTUNITY TO HAVE OPEN MINDS AND THINK ABOUT OTHER OPPOR OPPORTUNITIES, OTHER OPTIONS, I THINK THAT IS, THAN JUST DOING WHAT WE'VE ALWAYS DONE.
I THINK THAT WAS THE INTENT OF THE DISCUSSION.
I THINK TO YOUR, TO YOUR POINT SLASH CONCERN, SECRETARY, TREASURER, MORALES, UM, WHEN DAVID WAS TALKING ABOUT THAT EARLIER, THERE COULD BE AN OPPORTUNITY TO LEAVE THE, THE RESIDENT OWNED PROPERTIES OUT OF THAT TOO.
SO I THINK THAT MIGHT BE SOMETHING TO EXPLORE TO ADDRESS THAT CONCERN FURTHER.
UM, YEAH, JUST AS AN OPTION TOO, IF THAT'S GREAT.
DID I TAKE THE, DID I TAKE THE WIND OUTTA YOUR SAILS ON THAT? WERE YOU GONNA COMMENT ON THAT OR WAS THERE SOMETHING ELSE YOU WANTED ADD
UH, BUT BEFORE I GET TO THAT AS A REMINDER, THE BOARD OF DIRECTORS OF THE, UH, MMD IS APPOINTED BY THE COUNCIL.
UM, AND IT IS NOT IN OUR INTEREST TO HAVE TO BE PAYING TAXES AND, AND HIGHER AND HIGHER TAXES ANYMORE THAN NECESSARY.
ONCE THE INFRASTRUCTURE REIMBURSEMENTS, TO THE EXTENT WE AGREE ON THAT ARE DONE YOU THAT MMD CAN START DROPPING THAT TAX RATE.
BUT THE ONE ADVANTAGE OF THE MMD IS THAT IT, UNTIL IT IS DISSOLVED BY THE CITY, IT'S AN ONGOING ENTITY FOR THAT TARGET AREA.
AND YOU COULD TAKE IT DOWN, AND THIS IS LONG TERM, WHAT OUR CONTEMPLATION IS FOR OUR MANAGEMENT DISTRICT AT EAST RIVER, TAKE IT DOWN TO BASICALLY A MAINTENANCE TAX AND IT TAKES CARE OF THE TRAILS, IT TAKES CARE OF THE PARK LAND, IT TAKES CARE OF CERTAIN THINGS, WHICH THEN IN, IN THAT BOUNDARY WITHIN THAT DISTRICT.
AND SO IT'S NO LONGER A, A BURDEN, IT WON'T BE A BURDEN ON THE CITY IN GENERAL.
IT'LL BE A BURDEN ON THOSE PEOPLE WHO ENJOY THAT STUFF OR EVERY DAY.
'CAUSE THAT'S THEIR PROPERTY OWNERS THERE.
UM, DAVID, ACTUALLY I HAVE ONE THING FOR YOU.
UM, SO I WAS ON THIS BOARD WHEN WE AGREED TO, YOU KNOW, SIGN AN MOU AND HAVE MIDWAY, YOU KNOW, UM, YOU KNOW, BE THE DEVELOPER ON THE PROJECT, WHICH I STILL SUPPORT TO THIS DAY.
UM, WITH THAT BEING SAID, HERE ARE THE OPTICS THAT ARE, YOU KNOW, POTENTIALLY OUT THERE.
I MEAN, THEY ARE, FOR ME IT'S LIKE WE SIGNED THE MO U2 YEARS AGO ALMOST.
I KNOW IT'S NOT QUITE, I UNDERSTAND THAT THE 1 32 79 OVERPASS, UM, AND AND PLANNING OF THAT HAS DELAYED A LOT OF ELEMENTS OF IT BECAUSE OBVIOUSLY THAT DETERMINES YOUR HARD CORNER.
WITH ALL THAT BEING SAID, UH, BASED OFF OF OUR DISCUSSIONS, IT SOUNDS LIKE, UH, OR IN YOUR PRESENTATION RATHER, THAT ALL OF THE LOOSE ENDS WITH RESPECT TO WHETHER IT'S THE ROADWAY OR ANYTHING ELSE ARE ALL COVERED.
AND THE ONLY NEEDS FROM MIDWAY AS IT RELATES TO BREAKING DIRT, UM, IS NOTHING MORE THAN HELPING TO, YOU KNOW, BE AN ADVOCATE FOR MIDWAY, UM, TO SUPPORT GETTING THOSE PROJECTS, YOU KNOW, UH, REVIEWED BY THE APPROPRIATE DEPARTMENT WITHIN THE CITY, UM, AND SUBSEQUENT APPROVAL TO AFFORD YOU THE ABILITY OF STARTING GOING, YOU KNOW, HORIZONTAL TO VERTICAL.
WITH THAT BEING SAID, I AM ALSO NOT IN THE INTEREST OF PLAYING THE KICK THE CAN DOWN OR KICK THE CAN DOWN THE ROAD GAME WITH RESPECT TO MOUS OR ANYTHING ELSE.
THERE ARE A LOT OF PEOPLE OUT THERE, IN MY OPINION THAT ARE STARTING TO GO, OKAY, HEY, WHAT'S GOING ON WITH THIS? WHAT ABOUT THIS, WHAT ABOUT THAT? AND UNDERSTANDABLY SO THIS IS POTENTIALLY A, UH, CITY ALTERING EVENT FOR QUITE SOME TIME IN TERMS OF HOW THE CITY OPERATES GOING FORWARD, WHETHER IN, YOU KNOW, KNOW, RETAIL DEVELOPMENT, ALL OF THESE OTHER THINGS.
UM, SO WHAT I NEED FROM YOU AND YOUR TEAM WITH RESPECT TO AN MOU IS LIKE, AND TO EXPLAIN THIS, I NEED A DROP DEAD DATE.
YOU KNOW? 'CAUSE LIKE AT A CERTAIN POINT WE GOTTA GO, OKAY, HEY, WE,
[01:50:01]
WE'VE BEEN WORKING ON THIS FOR TWO, TWO AND A HALF YEARS.IT'S LIKE NOTHING'S HAPPENED IN TERMS OF WHAT PEOPLE SEE.
YOU KNOW, I, I WORK IN CONSTRUCTION, I UNDERSTAND, YOU KNOW, ALL OF THE IDIOSYNCRASIES WITH PLANNING, PERMITTING, PLATING, YOU KNOW, FOR THAT MATTER.
SO WE NEED A DATE AND IT CAN'T BE, WELL, YOU KNOW, WE'LL WE'LL HAVE THIS, WE'LL HAVE THAT.
I MEAN, WE, WE GOTTA GET SOME, SOME SERIOUS TRACTION AND UNDERSTAND THAT THERE WERE ELEMENTS THAT MIDWAY COULD NOT CONTROL.
HOWEVER, AT THIS POINT IT SOUNDS LIKE MIDWAY CAN CONTROL PRETTY MUCH ALL OF THAT.
IS THAT A FAIR ASSESSMENT? UM, FOR THE MIDWAY CONTROLLABLE ITEMS? I UNDERSTAND Y'ALL, Y'ALL DON'T STAMP APPROVED ON PLANS.
I WOULDN'T SAY MIDWAY CONTROLS IT, BUT MIDWAY'S NOW RESPONSIBLE FOR FIGURING OUT THE SOLUTION.
ARE Y'ALL IN THE DRIVER'S SEAT? IS THERE, IS THAT A FAIR ASSESSMENT? THAT'S A FAIR ASSESSMENT.
SO THE WAY THAT I SEE IT IS, IF Y'ALL ARE IN THE DRIVER'S SEAT, I NEED Y'ALL TO SAY, HEY, IT'S GONNA TAKE X NUMBER OF HOURS TO GET BACK TO HOUSTON.
AND FOR, NOT IN THE LITERAL SENSE, BUT BE ABLE TO GO, OKAY, HEY, WE'RE GONNA HAVE EVERYTHING WE NEED BY THIS DATE.
MMDS, PUDS, MUDS, PIDS, ANY OF THE ALPHABET SOUP.
AT THE END OF THE DAY, THE EDC DOES NOT CONTROL ANY OF THAT.
WE CAN ADVOCATE FOR THAT, BUT THAT REQUIRES THE COUNCIL TO HANDLE THAT OBJECT.
SO THERE'S, WE CAN, WE CAN SAY WHAT DO WE WANT? BUT IF THEY APPROVE AN MMD, GREAT.
IF THEY SAY, YOU KNOW, NO PUDS OR WHATEVER ELSE, THEN OBVIOUSLY YOU HAVE FINANCIAL ELEMENTS THAT YOU MAY NOT BE ABLE TO MAKE THE PROJECT WORK.
NOT SUGGESTING THAT IS THE CASE, BUT WE HAVE ZERO CONTROL OVER THAT.
AT THE END OF THE DAY, OUR LIMITS ON THIS ARE QUITE LITERALLY THE LAND SALE.
SO, UM, IS THAT, ARE YOU ABLE TO PROVIDE A, A DATE TODAY OR, I MEAN, 'CAUSE LIKE I I, I, I AM NOT IN A POSITION WHERE I CAN COMMIT TO A SPECIFIC DATE AT THIS TIME.
I'D HAVE TO MEET WITH MY PARTNERS AND COUNSEL WITH THEM.
IF, IF THE BOARD BOARD, IF, IF I MAY, JUST TO REITERATE, THE PSA HAS BEEN COMMITTED FOR EIGHT 11, THE PUD APPLICATION HAS BEEN COMMITTED FOR 10 31 ON OR BEFORE FOR BOTH OF THOSE.
AND THEN THE MMD OR WHATEVER FINANCING PLAN FOR THE PROJECT HAS BEEN COMMITTED BY JULY, 2026, WHICH ALIGNS WITH WHAT WAS PRESENTED.
SO THOSE ARE THE TIMELINES THAT WE'RE ASKING FOR COMMITMENT TO OR WOULD BE PROPOSED.
COULD WE HAVE THAT, THOSE ARE THE DATES THAT WOULD FILL IN THE BLANKS ON THE AMENDMENT, ON THE PROPOSED AMENDMENT, CORRECT? CORRECT.
SO WOULD IT BE FAIR THAT WE COULD POSSIBLY HAVE A MORE FIRM DATE BY THE EIGHT 11 CHECKPOINT? I BELIEVE THAT'S, WOULD THAT GIVE YOU ENOUGH TIME TO MEET WITH EVERYONE? I THINK THAT'S FAIR REQUEST.
IS THAT, IS THAT KIND MY QUESTION IS LIKE, AND, AND I'M, I I LIKE SAYING I'M NEW HERE.
I LOVE SAYING THAT
UM, AND THEN TWO MORE DOWN IT SAYS, DEFINES THE UNDERSTANDING OF THE PARTIES AND WORKING TOWARDS THE PROJECT.
I MEAN, I DON'T SEE A REASON WHY WE NEED TO EXTEND IT.
I MEAN, WE WERE, WE'RE GONNA WORK TOGETHER, BUT TO ME IT KIND OF SEEMS LIKE A FORMALITY.
IT IT IS, BUT LIKE I CAN REFERENCE, YOU KNOW, SO WHAT I DO, YOU KNOW, YOU KNOW, DAILY AND, AND YOU KNOW, WE DO A LOT OF GOVERNMENT WORK, SO, YOU KNOW, THERE'S SOMETIMES PAPERWORK THAT HAS TO BE OUT THERE JUST TO GO, YES, WE CAN ACTUALLY DO THIS.
TO ME, IF I'M, IF I'M MIDWAY, IT'S KIND OF LIKE, OKAY, YEAH, IT'S AN MOU, IT'S KIND OF LIKE, UM, UH, YOU KNOW, A LETTER OF INTENT.
THERE'S REALLY NOT A LOT WITH IT.
BUT WITH THAT BEING SAID, IT ALSO DOES AFFORD MIDWAY THE ABILITY TO GO, HEY, LOOK.
I MEAN, MOST DEVELOPERS AREN'T GONNA GO AND JUST GO SPEND MONEY ON, YOU KNOW, ENGINEERING AND DESIGN AND LEGAL AND ALL THIS OTHER STUFF IF THEY DON'T HAVE AN, SOME KIND OF AN AGREEMENT IN WRITING.
I THINK TO YOUR POINT THOUGH, I, AND, AND I DON'T KNOW IF WE NEED TO TABLE IT TO THE, TO THE EIGHT 11 MEETING, UH, OR, OR, OR BRING IT BACK AT THAT TIME.
BUT I, I MEAN, DELIVERABLES FOR ME ARE IMPORTANT.
I, YOU KNOW, I WILL SAY THAT THE CURRENT MOU HAS A JULY 31ST DEADLINE MM-HMM
SO IF WE DON'T WANT TO HAVE IT END BEFORE WE CONSIDER IT AGAIN, THEN WE SHOULD EXTEND IT AT SOME POINT DURING THIS MEETING.
SO I WILL MAKE A MOTION TO APPROVE THE MOU AS PRESENTED WITH THE CAVEATS THAT IF MIDWAY DOES NOT HIT THE DATES AS PROVIDED BY CHANEY.
CAN I JUST CLARIFY SOMETHING BEFORE YOU GET A SECOND AND MOVE ON? SURE.
SO WE'RE TALKING ABOUT AMENDING THE MOU TO REFLECT A PURCHASE AND SALE AGREEMENT DEADLINE OF AUGUST 11TH, 2025, A PED PUD DEADLINE OF OCTOBER 31ST, 2025, AND A PROJECT FINANCING DEADLINE OF THE END OF JULY, JULY 31ST, 2026.
THAT'S WHAT THE PLAN SHOWS? YES.
I JUST WANNA MAKE SURE THAT'S, THAT EVERYBODY'S ON THE SAME PAGE.
SO WHEN YOU SAY AS PRESENTED, THAT IS WHAT YOU MEAN, CORRECT? YES.
DAVID, DOES THAT WORK FOR MIDWEST? YES.
I'M NOT TRYING TO BE A STICKLER, JUST NO, NO.
I, I PEOPLE WANNA SEE THINGS HAPPENING.
[01:55:01]
WE HAVE MOTION BY CHAIR CARLSON SECONDED BY, UH, BOARD MEMBER MCLAUGHLIN.JUST A POINT OF CLARIFICATION.
MAKE SURE THE, THE, ALL THE RIGHT PEOPLE ARE ON THE MOU.
IT CURRENTLY HAS THE OLD, UM, BOARD MEMBERS.
I'M SURE YOU ALREADY CAUGHT THAT, BUT I JUST WANNA SAY YES, SOME OF THIS STUFF WAS DRAFTED PRIOR TO BOARD CHANGES.
ADDITIONALLY, THE FIRST AMENDMENT WILL HAVE THE PREVIOUS BECAUSE THAT WAS CONSIDERED AND APPROVED BY THE PREVIOUS BOARD.
SO THOSE, THOSE WERE CORRECT AT THAT TIME.
BUT YES, WE WILL GET CORRECT SIGNATURE LINES, ET CETERA, REFLECTED.
AND JUST TO BE CLEAR ON THE MOTION, JUST FOR EVERYONE'S SAKE, IT IS APPROVING AS PRESENTED WITH THE EXCEPTIONS OF THE DATES OF THE EIGHT 11 FOR THE PSSA, UH, WHAT WAS THE DATE? CHENEY ON THE 10 31 FOR PUD APPLICATION? 10 31 ON PUD APPLICATION.
NOT APPROVAL, JUST THE APPLICATION.
AND THEN, UH, ON THE FINANCING PROJECT, FINANCE PLAN, I GUESS WE'LL CALL IT JUST TO, YEAH, THE FINANCING PLAN WORKS.
WHAT, JULY 31ST OF NEXT YEAR IS WHAT YOU SAID? CORRECT.
OPEN UP FOR QUESTIONS OR COMMENTS.
BOARD MEMBER GONZALEZ? YES, I AGREE.
WE'LL SEE YOU AUGUST THE 11TH.
ALRIGHT, UH, WE'RE GONNA GO AHEAD AND STEP BACK TO ITEM SIX ONE.
UH, THAT WILL BE STAFF WRITING UPDATES ON CRITICAL PROJECTS INCLUDING MEGASITE SPINE ROAD CONSTRUCTION PROJECT, WILLIAMSON COUNTY ECONOMIC DEVELOPMENT PARTNERSHIP, EVENT RECAPS AND UPCOMING EVENTS.
UM, QUITE A FEW IMPORTANT UPDATES.
SO, UH, TAKING THIS MEGASITE SPINE ROAD PROJECT KIND OF TOGETHER HERE, UM, AT THURSDAY'S COUNCIL MEETING, UH, LAST WEEK ON THE 10TH, COUNCIL ACCEPTED THE SPINE ROAD PROJECT AS PUBLIC INFRASTRUCTURE.
SO THAT COMPLETES THE OBLIGATION OF THIS CORPORATION PER THEIR TITAN AGREEMENT.
UH, ADDITIONALLY FIRE, UH, DID SIGN OFF ON THE FIRE ACCESS ROAD AS WELL.
WE GOT THAT IN WRITING, UH, JUST FOR AN EXTRA LAYER OF CONFIRMATION THERE.
SO WE WILL BE PLANNING A RIBBON CUTTING PROBABLY LATE SUMMER, EARLY FALL.
I'M THINKING MAYBE AROUND TWO 3:00 PM EVERYONE CAN JUST ROAST THEMSELVES.
UM, WE GOTTA ORDER THE SIGNS AND ALL THAT GOOD STUFF.
THE, THE ROAD SIGNS FOR KRUGER BOULEVARD, ET CETERA, AS AGREED TO PREVIOUSLY.
BUT REALLY EXCITED TO HAVE THAT CELEBRATORY MOMENT FOR THE COMMUNITY, UH, ESPECIALLY COUNCIL AND BOARD, PRIOR COUNCIL, PRIOR BOARD THAT HAVE BEEN ENGAGED IN THIS PROJECT FOR QUITE SOME TIME.
UH, REALLY EXCITED TO HAVE THAT, UM, OPERATIONAL AND, UM, REALLY EXCITED NOW TO SEE SOME OF THESE CONTRACTS CLOSE FOR SOME LAND SALES.
UM, SPEAKING OF MEGASITE, WE ARE CONTINUING TO PROMOTE AVAILABLE LAND ON THE MEGA SITE, AS WELL AS PARTNERING WITH THE DEVELOPERS THAT ARE UNDER CONTRACT.
UH, WE RECOGNIZE THAT SOME OF THE POTENTIAL TENANTS ARE GONNA BE MOVING AT DIFFERENT SPEEDS, AND SO BUYING RAW LAND VERSUS BUYING OR PARTNERING WITH A DEVELOPER THAT'S ALREADY OUT THERE UNDER CONTRACT WHO'S ALREADY MOVING THROUGH THE SITE PLANNING PROCESS, UH, PROVIDES SOME DIFFERENT ADVANTAGES.
SO, UH, WE'VE BEEN ENGAGING WITH SOME OF THOSE DEVELOPERS.
HAD A SITE VISIT LAST WEEK, IN FACT, UM, ON OPTIONS TO PARTNER WITH ONE OF THE DEVELOPERS THAT'S CURRENTLY UNDER CONTRACT.
WE ALSO WERE, UM, PROMOTING THE MEGASITE LAND AVAILABLE, OWNED BY THE EDC WHILE IN SOUTH KOREA A COUPLE WEEKS AGO.
UM, SO WE'RE EXCITED TO CONTINUE THOSE EFFORTS.
WILCO, EDP, UH, THEY ARE WORKING ON A STRATEGIC PLAN.
THEY HAVE THE INITIAL FINDINGS THAT WERE PRESENTED A COUPLE MONTHS AGO, AND NOW THEY'RE MOVING INTO THE RECOMMENDATIONS AND IMPLEMENTATION, WHICH WE WILL SEE LATER THIS FALL.
THERE'S ALSO A PRESENTATION NEXT TUESDAY TO THE MIC, TO THE COMMISSIONER'S COURT, EXCUSE ME.
UM, REGARDING JUST KIND OF AN UPDATE FOR THE PAST YEAR, UM, EVENT RECAPS.
WE HAD OVER 20 MEETINGS RANGING FROM STARTUPS TO ESTABLISHED COMPANIES, AND SOME LARGE COMPANIES THAT HAVE A PRESENCE IN THE AREA WHO HAVE OTHER, UM, SECTORS THAT THEY SUPPORT.
UH, SO THAT'LL BE SOME CONTINUOUS FOLLOW UP OVER THE NEXT SEVERAL WEEKS.
WE DO HAVE SOME PRELIMINARY COMMITMENTS FOR SITE VISITS COME THIS FALL, UH, SEPTEMBER, OCTOBER TIMEFRAME.
[02:00:01]
SO LOOKING FORWARD TO, UH, PROVIDING UPDATES ON THAT, UH, AS THOSE START TO COME TO FRUITION AS WELL.UM, SOME OF THE CONSISTENT FEEDBACK AND CONCERN WE GOT FROM THE COMPANIES THAT WE MET WITH WAS REGARDING TARIFFS, UH, AND JUST KIND OF THE TIMELINE AND INVESTMENT THAT IT TAKES TO SET UP, UM, YOU KNOW, FACILITIES HERE, UH, WHILE STILL INCURRING THOSE TARIFFS, UH, FOR, FOR WHERE THEY'RE CURRENTLY PRODUCING AND EXPORTING.
SO THAT WAS INTERESTING FEEDBACK.
UM, THEN WE ALSO, UH, VENT RECAPS CONTINUING.
UH, EMILY, OUR BUSINESS RESOURCE SPECIALIST, WHO HANDLES ALL OF OUR BUSINESS RETENTION AND EXPANSION EFFORTS, WAS ABLE TO MAKE A PRESENTATION TO LIONS CLUB ON JUNE 23RD.
THAT'S THE SECOND TIME THE ECONOMIC DEVELOPMENT HAS BEEN INVITED TO PRESENT.
UM, JUST REALLY GRATEFUL FOR THE OPPORTUNITY TO ENGAGE WITH OUR COMMUNITY STAKEHOLDERS AND GROUPS, UM, AND HELP EDUCATE THEM ON ALL THE THINGS THAT WE HAVE GOING ON IN ECONOMIC DEVELOPMENT.
UM, WE HAD TEDC, MIDYEAR CONFERENCE JUNE 18TH TO THE 20TH.
LOT OF REALLY GREAT INFORMATION, UH, SPECIFIC TO POWER AND WATER, UH, THAT I THINK WILL BE ESPECIALLY RELEVANT FOR THIS COMMUNITY AS IT CONTINUES TO GROW.
UM, SO REALLY GOOD NETWORKING, CONNECTING TO SOME SUBJECT MATTER EXPERTS ON THOSE AREAS.
UM, AND THAT ALSO HAS ONGOING FOLLOW UP TO FURTHER IDENTIFY HOW TO BEST APPLY THAT INFORMATION AND THEN LEVERAGE THOSE CONNECTIONS TO HELP BENEFIT THE COMMUNITY.
UPCOMING, THERE'S A BUDGET WORKSHOP ON SATURDAY, JULY 26TH.
IT'S NINE TO NOON HERE IN COUNCIL CHAMBERS.
WE ALSO HAVE THE WILCO EDPS CHAMPIONS LUNCH, UH, ON AUGUST 14TH.
EMAIL INVITES WERE SENT OUT, BUT DUE TO BOARD CHANGES, I WILL HAVE TO CIRCLE BACK AND, AND HAVE THEM SEND THAT BACK OUT TO, UM, THE NEW MEMBERS.
'CAUSE THAT CAME STRAIGHT FROM THE EDP GROUP, SO, UM, I DON'T, I'M NOT GETTING ANYTHING FROM EDP AT ALL.
DO YOU ALREADY BUY YOUR TICKETS FOR NEXT YEAR?
SO OUR COMMUNITY PARTNERS ARE ABLE TO ADD EVENTS TO THE CALENDAR ON THE CITY'S WEBPAGE.
SO THAT HAS A SCROLLING, UM, BAR AT THE BOTTOM OF THE CITY'S WEBPAGE.
SO WE HAVE LOTS OF EVENTS COVERING UP, JUST 'CAUSE I DON'T MENTION IT HERE DOESN'T MEAN THEY DON'T EXIST.
SO IF YOU'RE INTERESTED IN KNOWING WHAT'S GOING ON, CITI'S WEBSITE, HOMEPAGE, BOTTOM, SCROLL AWAY.
UH, I DO HAVE ONE ITEM THAT I'M GONNA NEED A LITTLE BIT OF DIRECTION FROM THIS BOARD.
PREVIOUS BOARD DIRECTION, UM, PERTAINING TO TEAM BUILDING.
UM, THERE WAS A DESIRE FOR THE BOARD TO GET TOGETHER OUTSIDE OF MEETINGS, UM, AND WAS PROPOSED TO BE OVER AT HOOKY ENTERTAINMENT.
SO I JUST NEED DIRECTION, AGAIN, BEING RESPECTFUL OF WHO WAS STILL, WHO'S PERSISTED FROM ONE BOARD TO THE NEXT AS WELL AS THE NEW BOARD MEMBERS.
IF THAT IS SOMETHING THAT'S STILL DESIRED, LET ME KNOW AND I WILL WORK TO SECURE DATES FOR THAT AS AN UPCOMING EVENT FOR THE BOARD.
WELL, YEAH, I FIGURED FROM YOU,
WELL, IT COULD BE LIKE A LUNCHEON OR IT DOESN'T HAVE TO BE A FULL BLOWN WORKSHOP.
IT CAN BE JUST GETTING TO KNOW EACH OTHER A LITTLE BIT OVER AN HOUR.
I CAN HOST SOMETHING AT MY HOUSE.
UM, WHICH, YOU KNOW, I LOVE, BUT ALSO LIKE, I DON'T KNOW.
I MEAN, DO WE NEED A, AN OFFICIAL, I THINK IT WAS REALLY AARON THAT, YOU KNOW, OUR, OUR FORMER CHAIR WHO WAS REALLY TRYING TO DRIVE MORE, UH, YOU KNOW, RELATIONSHIP BUILDING WITHIN THE BOARD MEMBERS.
UM, AND SO, YOU KNOW, I DON'T KNOW IF OUR NEW CHAIR WANTS TO, YOU KNOW, PICK UP THE BALL AND, AND ROLL WITH THAT, WITH THAT IN A DIFFERENT DIRECTION.
UM, I'M JUST SPEAKING BECAUSE, YOU KNOW, I WAS HERE WHEN THAT WAS GOING ON.
I MEAN, I'M INDIFFERENT ON ALL THAT STUFF IF I'M JUST BEING HONEST.
'CAUSE IT'S TRYING TO SYNC SCHEDULES AND EVERYTHING ELSE.
UM, BECAUSE LIKE FOR ME, I WORK, YOU KNOW, 60 PLUS HOURS A WEEK AND HAVE THINGS GOING ON ON THE WEEKENDS.
UM, YOU KNOW, EVAN IS CONSTANTLY TRAVELING FOR, YOU KNOW, FOR HIS JOB.
SO WELL, AND THESE GUYS ALSO HAVE CITY COUNCIL ROLES TO FILL AS WELL.
SO, I MEAN, I I'M NOT TRYING TO BE PASSIVE AGGRESSIVE HERE AND SAYING WE SHOULD DO BLAH, BLAH BLAH OR WHATEVER.
I'M FINE IF WE DON'T DO ANYTHING BECAUSE I ALSO HAVE TWO BUSINESSES TO RUN AND, YOU KNOW, AND, UH, A LOT OF PERSONAL THINGS GOING ON ON THE WEEKENDS AS WELL TOO.
SO, I MEAN, I I WILL SAY THAT IN THE FIVE YEARS THAT I SPENT ON THIS BOARD PREVIOUSLY, UM, WE NEVER
[02:05:01]
CONDUCTED ANY OF THOSE ACTIVITIES.NOT TO SAY THAT THEY AREN'T NECESSARILY RIGHT AT THE TIME OR ANYTHING OF THE SORT, BUT ALSO SPENDING THAT AMOUNT OF TIME HERE, YOU START TO BUILD RELATIONSHIPS, WHETHER IT'S AN EXECUTIVE SESSION, PRIOR TO MEETINGS, ANYTHING ELSE.
AND SO IT ACCOMPLISHES, I I THINK THAT SOME OF THAT IS STILL ACCOMPLISHED.
IT MIGHT NOT FEEL THAT WAY, BUT IT IS INDEED TRUE.
THERE IS A LOT OF RELATIONSHIPS I BUILT ON THE BOARD LAST TIME AROUND, AND I STILL TALK TO SOME OF THOSE PEOPLE TO THIS DAY.
YEAH, I MEAN, THAT'S BEEN MY EXPERIENCE WITH THE PREVIOUS, YOU KNOW, WITH THE PREVIOUS BOARD AND HAVING BEEN HERE THROUGH THE LAST YEAR, YOU CERTAINLY DO, YOU KNOW, BUILD THOSE RELATIONSHIPS AND YEAH, I WOULDN'T EXPECT, I DON'T, IT WOULD BE EXPECT THAT THAT WOULDN'T CONTINUE.
I DON'T THINK IT WOULD BE A GRAND THING IF YOU JUST DO IT ONCE.
IT'S NOT LIKE A THREE DAY WORKSHOP.
THE HARD PART SAY IT'S TIMING.
THERE'S, THERE'S ALWAYS ISSUES WHEN YOU HAVE LOT, YOU KNOW, MORE THAN TWO PEOPLE, UH, IN ANY GIVEN TIME AND DATE.
BUT I THINK IT WOULD BE IMPORTANT TO JUST COME TOGETHER, LET'S GET TO KNOW EACH OTHER.
I MEAN, I DIDN'T GET TO KNOW THE OTHER BOARD MEMBERS VERY WELL BEFORE THEY LEFT.
AND I THINK IN MY EXPERIENCE IN THE CORPORATE ENVIRONMENT, WHEN YOU DID BREAK BREAD TOGETHER, AT LEAST THAT THAT BONDED YOU IN A WAY THAT MADE YOU MORE EFFICIENT AND MORE EFFECTIVE WHEN YOU DID MAKE DECISIONS TOGETHER.
I WILL BE CAREFUL OF QUORUM TOO.
MAKE SURE WE DON'T MAKE ANY, I MEAN, I WILL ECHO DECISIONS WITHOUT TOMA.
YOU KNOW, IRMA, THAT ONE OF THE THINGS I MENTIONED IN MY INTERVIEW FOR THIS POSITION WAS THAT YOU CAN'T MAKE GOOD DECISIONS TOGETHER UNLESS YOU KNOW THE PEOPLE YOU'RE MAKING THE DECISIONS WITH.
SO MY QUESTION, I GUESS IS YOU THINK THAT WE'RE GONNA BE SPENDING ENOUGH TIME IN THIS ENVIRONMENT THAT A LUNCH WOULD NOT BE NECESSARY TO GET TO KNOW YOU GUYS.
BECAUSE FOR ME, GETTING TO KNOW YOU ON A SLIGHTLY MORE PERSONAL LEVEL IS VITAL FOR ME TO UNDERSTAND WHERE PEOPLE ARE COMING FROM AND TO UNDERSTAND EVERYONE'S POINT A LITTLE BIT BETTER.
UM, AND THEN HAVE YOU UNDERSTAND MINE AS WELL.
AND SO, UM, I PERSONALLY WOULD MAYBE EVEN A BIANNUAL SOMETHING WHERE IT'S JUST A LUNCH, AN HOUR SITTING DOWN AND JUST AS WE MAY HAVE SOME MORE TURNOVER AT SOME POINT ANYWAY, SO YOU NEVER KNOW.
SO JUST TO CATCH UP ON WHO'S NEW, WHO'S NOT, AND YOU KNOW, WHERE, OR I JUST ASKED SOMEBODY WHAT THEY DID FOR A LIVING.
SO I'M STILL LEARNING WHAT PEOPLE DO.
I MEAN, I I THINK IT GOT TWO DOWN, A FEW MORE TO GO.
SO, UM, I, I WOULD NOT BE OPPOSED TO DOING SOMETHING EVEN IF IT'S NOT VERY OFTEN AND IT DOESN'T HAVE TO BE VERY LONG.
BUT, UH, IF YOU THINK THAT WE'LL, WE'LL BE SPENDING ENOUGH TIME TOGETHER DOING THESE MEETINGS AND AND WHATNOT, I DON'T HAVE THE EXPERIENCE TO KNOW WHETHER OR NOT THAT'S SUFFICIENT.
SO A GOOD EXAMPLE IS WHEN WE WENT AND, UH, ON THAT TRIP TO, UH, LAS VEGAS TO ATTEND THE CONFERENCE, I LEARNED A LOT ABOUT CHENEY.
I LEARNED A LOT ABOUT JENNIFER AND ALSO, UH, KELLY THAT I DIDN'T KNOW ABOUT THE, THE BACKGROUND.
WELL, AND THEN THERE WAS ONLY TWO OF US, SO WE WEREN'T AT RISK OF QUORUM, YOU KNOW, AND IT'S LIKE, I KNOW, LIKE YOU AND I, WHEN YOU FIRST CAME ON THE BOARD, WE WENT AND HAD BREAKFAST TOGETHER, JUST THE TWO OF US TO GET TO KNOW EACH OTHER.
AND I THINK IT, YOU KNOW, MAYBE IT'S MORE EFFECTIVE AND EASIER TO SCHEDULE IF IT'S, HEY, LET'S GO HAVE LUNCH, LET'S GO HAVE COFFEE, LET'S GRAB A COCKTAIL.
WHATEVER IT ENDS UP BEING, UM, WHEN PEOPLE ARE AVAILABLE AND, YOU KNOW, UH, I'M CERTAINLY OPEN TO THAT.
I DON'T KNOW THAT IT NEEDS TO BE ON OUR EDC DIME OR EC BUDGET.
UM, AND I WOULD BE YEAH, I'M FINE WITH THAT.
WORRIED ABOUT, YOU KNOW, IS THERE A QUORUM? I MEAN, HOW, HOW WOULD WE PREVENT TALKING ABOUT THINGS AND NOT PUBLICLY, YOU KNOW, NOT NOTICING IT PROPERLY.
AND I WOULD JUST BE A LITTLE CONCERNED ABOUT THE POTENTIAL OF THAT IF WE GOT TOGETHER AS A, AS A GROUP OUTSIDE OF I UNDERSTAND.
IF THERE'S EVER MORE THAN THREE OF US IN A ROOM, WE HAVE A PROBLEM.
AND SIMPLY PUT, I MEAN, FROM LIKE, YOU CAN, YOU KNOW, BE A PAPER IT UP AND, AND TO TRY TO GET AROUND IT, BUT THERE'S ALWAYS THAT POTENTIAL, RIGHT? AND, AND THAT'S THE HARD PART, SO, RIGHT.
YOU KNOW, IT'S, IT'S A PART OF THE REASON YOU, IT'S LIKE, YOU KNOW, THERE ARE PEOPLE IN THIS COMMUNITY THAT MIGHT NOT LIKE CERTAIN COUNCIL MEMBERS FOR X, Y, OR Z AND THAT IS WHAT IT IS.
THAT'S NOT FOR US TO, TO, YOU KNOW, DELIBERATE AMONGST OUR OURSELVES ON, BUT THE POINT BEING THAT IT'S ALSO, YOU KNOW, THE, THE CITY COUNCIL ITSELF IS CONTINUED TO STRIVE FOR MORE AND MORE TRANSPARENCY IN, IN SOME OF THAT STUFF.
AND YOU COULD ALSO SEE THE OPTICS JUST GENERALLY SPEAKING.
IT'S LIKE, OH, HEY, THE WHOLE EDC GOT TOGETHER BEHIND CLOSED DOORS AND WENT AND DID ALL THIS STUFF AND WHATEVER ELSE, VERSUS JUST A, HEY, LOOK, WE'RE UP HERE.
PEOPLE CAN, YOU KNOW, PLAY IT BACK.
EXEC OBVIOUSLY HAS ITS OWN LIMITATIONS, BUT BEYOND THAT, IT'S THE EVERYTHING'S DONE RIGHT HERE OUT IN, OUT IN THE DAYLIGHT.
WELL, WE'RE NOT GONNA BE DOING ANYTHING BEHIND CLOSED DOORS.
IT WOULD BE IN A PUBLIC VENUE.
I'LL, I'LL SHARE WITH YOU THAT, AGAIN, MY EXPERIENCE HAS BEEN WHEN YOU GET TO KNOW EACH OTHER, YOU MAKE BETTER DECISIONS TOGETHER.
[02:10:01]
WHEN YOU KEEP ISOLATED LIKE THAT, NOT KNOW, HEY, YOU KNOW, I HAVE A FAMILY, I'VE GOT A SON, HE'S GOT A, YOU KNOW, A TEENAGE DAUGHTER, SHE'S STARTING, YOU KNOW, IT'S THAT KIND OF THING THAT CREATES, UM, BONDING WHERE WE WORK EVEN, UH, MORE CLOSELY TOGETHER FOR THE BETTERMENT OF THE CITY.I'M NOT SAYING NO, WHAT I'M SAYING IS THAT I WOULD RECOMMEND TO THE BOARD THAT IF YOU WANNA GET TO KNOW SOMEBODY BETTER, WHATEVER THE CASE MAY BE, LIKE THE OLD VICE CHAIR WHEN I WAS AROUND LAST TIME, SEAN LUCAS, LIKE, DID WE GO, YOU KNOW, DISCUSS CERTAIN THINGS OR WHATEVER ELSE.
YEAH, WE DID, BUT IT WAS JUST THE TWO OF US BECAUSE IT PREVENTED ANY ISSUES WITH RESPECT TO THE OPEN MEETINGS ACT AND ANYTHING ELSE.
THAT'S MY WHOLE POINT IS SAYING, IF YOU WANNA GO TALK WITH SOMEBODY AND GET TO KNOW HIM, THAT'S PERFECTLY FINE.
AND WE DON'T GET INTO A OPEN MEETING, EXACT VIOLATION OR ANYTHING OF THE SORT.
WE KNOW WHAT TO SAY AND WHAT NOT TO SAY.
SO WE, WE THINK THAT, BUT THERE ARE CERTAIN THINGS THAT CAN DANCE AROUND THAT AND CREATE A LEGAL ISSUE OUTTA SOMETHING THAT DOESN'T HAVE TO BE, BUT IT CAN BECOME ONE JUST BY EVERYONE BEING IN THE SAME ROOM AND MAKING ONE COMMENT ABOUT ONE THING, AND NOW IT'S A TOMA VIOLATION.
SO YES, WE'RE ADULTS, BUT WE ALL HAVE VERIDIAN SLIPS OR ANYTHING OF THE SORT.
BUT WHEN YOU PUT ALL THOSE PEOPLE IN ONE ROOM, YOU HAVE NEW PROBLEMS OR CAN, WHAT I'D LIKE TO KNOW IS IF THERE ARE OTHER, UM, EDC GROUPS THAT ARE HUGELY SUCCESSFUL, AND IF, IF, AND, AND WHEN THEY DO GET TOGETHER, IF AT ALL, I WOULD LIKE TO UNDERSTAND THAT DYNAMIC IN OTHER GROUPS.
AND IF THEY'RE VERY SUCCESSFUL.
WELL, THAT MIGHT BE SOMETHING TO CONSIDER.
LIKE I SAID, IT'S JUST FROM A LEGAL STANDPOINT, IT, IT PUTS US IN A RISKY POSITION THAT WE DON'T HAVE TO PUT OURSELVES IN.
IT'S ALL IN HOW WE CONTROL AND MAINTAIN IT.
LIKE I SAID, I'M NOT SAYING NO, WHAT I'M SAYING IS THAT WE HAVE TO NAVIGATE THE TEXAS STATUTES IN SUCH A WAY THAT ONE, WE REMAIN, WE REMAIN, WE, EXCUSE ME, WE REMAIN ABOVE REPROACH, AND THAT OUR ACTIONS ARE NOT IN POTENTIAL LEGAL PERIL FOR ANY ONE PARTICULAR REASON.
YOU HAVE TO UNDERSTAND THAT SOMEBODY CAN SUE FOR ANYTHING.
AND THAT'S, AND THEN, AND WHETHER IT HAS MERIT OR NOT, YOU THEN HAVE TO PAY TO DEFEND IT, WHICH THEN WE HAVE TO PAY, YOU KNOW, KAI, HE, OR EXCUSE ME, HIDE KELLY, UM, YOU KNOW, A SIZE AMOUNT OF MONEY TO DEFEND EXACTLY THAT, WHETHER IT'S BASELESS OR NOT.
SO IT'S NOT SAYING NO, BUT I WOULD RECOMMEND TO THE BOARD THAT IT IS A ONE-ON-ONE TYPE THING AND IT IS NOT A, A REMOTE POTENTIAL FOR A TOMA VIOLATION.
SO ALL I'M SAYING GENERAL FEELING IS NO TO THIS PARTICULAR UPCOMING EVENT
I THOUGHT HE SAID HE WASN'T SAYING NO.
I'M, I'M SAYING THAT I, WHAT, WHAT WOULD, I'M SORRY TO INTERRUPT YOU.
I DON'T WANNA INTERRUPT YOU IF YOU'RE NOT FINISHED.
UM, WOULD, HOW ABOUT SOME ADVICE FROM COUNCIL? I MEAN, WHAT ARE, WHAT ARE YOUR THOUGHTS ON YEAH, I WASN'T SPEAKING BECAUSE I WAS GENERALLY SPEAKING, AGREEING WITH THE CHAIR.
MOST OF THE EDCS I'VE WORKED WITH, THEY DO INTERACT OUTSIDE OF THE BOARD MEETING IN ORDER TO GET TO KNOW EACH OTHER, BUT THEY DO IT IN LESS THAN A QUORUM.
TO AVOID THE APPEARANCE OF A VIOLATION OF TOMA, EVEN IF THEY DON'T HAVE ONE.
THAT'S WHAT I THOUGHT, BUT THANK YOU FOR CLARIFYING.
FOR ME, IT'S, UH, IT'S, IT'S ABSOLUTELY, UH, I'M GONNA THROW THE WORD OUT THERE, A FIDUCIARY RESPONSIBILITY OF US TO NOT WASTE TAXPAYER MONEY.
UM, IT IS OUR JOB TO DO DEVELOPMENT DEALS, NOT SPEND TIME TOGETHER ON THEIR DIME.
SO I LIKE THE IDEA OF GETTING TOGETHER.
IF YOU'RE GONNA MAKE MARGARITAS AND WE'RE NOT PAYING FOR IT, THAT'S AWESOME.
WELL, THAT, THAT'S WHAT I THOUGHT THAT WE MUCH, I'LL DO IT, BUT ONLY TWO PEOPLE CAN COME AT A TIME.
UM, BUT I DIDN'T THINK THAT IT WOULD BE ON THE DIME OF, OF THE CITY, OBVIOUSLY.
I, I DON'T CARE ABOUT THE MONEY ELEMENT TO BE HONEST.
IT HAS EVERYTHING TO DO WITH THE OPEN MEETINGS ACT, BECAUSE THAT'S THE BIGGER ELEPHANT IN THE ROOM THAT HAS TO BE DEALT WITH.
IF IT COMES DOWN ANY OF THAT TYPE OF STUFF.
LIKE, I DON'T HAVE A PROBLEM PAYING FOR ANY, ANY OF THAT TYPE OF STUFF OUTTA MY OWN POCKET, BUT THAT'S NOT WHAT THE CORE ISSUE IS.
UM, NEXT, SO IN THE INTEREST OF, UH, STAFF MEMBERS THAT ARE HERE TO SUPPORT US, UM, I WOULD LIKE TO MOVE SEVEN THREE UP, WHICH IS MONTHLY FINANCIAL REPORT FROM CHRISTINA.
SEVEN THREE, DISCUSS, CONSIDER ACTION TO REMOVE THE CORPORATION'S MONTHLY FINANCIAL REPORT FOR JUNE, 2025.
I DO INTEND TO STICK AROUND FOR SEVEN FOUR AND SEVEN FIVE AS WELL,
[02:15:01]
JUST FOR YOUR INFORMATION.I'M CHRISTINA BISHOP, THE CITY CONTROLLER.
UM, TONIGHT WE'RE GOING OVER THE JUNE FINANCIALS.
I SENT THOSE OUT VIA A LINK, UM, IN EMAIL ON FRIDAY AFTERNOON.
HOPEFULLY YOU ALL WERE ABLE TO ACCESS IT.
IF NOT, JUST LET ME KNOW AND I'LL FIND AN ALTERNATIVE WAY TO SEND IT.
TYPICALLY WHEN I COME UP HERE EVERY MONTH, I JUST KIND OF GIVE A BULLET POINT OR TWO OVER THE PAST MONTH AND ANYTHING CRITICAL YOU NEED TO KNOW AND THEN OPEN IT UP FOR QUESTIONS.
BUT SINCE THERE'S A FEW BOARD MEM NEW BOARD MEMBERS HERE, I'LL JUST GIVE A VERY HIGH LEVEL OVERVIEW OF SORT OF THE GENERAL HEALTH OF THE, UH, HU EDC.
UM, YOU STARTED THE YEAR, WHICH, UH, IS A OCTOBER TO SEPTEMBER FISCAL YEAR WITH A $6.7 MILLION FUND BALANCE.
UM, YOU ARE EXPECTED TO END THE YEAR AT ABOUT 7.9 MILLION.
UM, YOUR MAJOR, UH, REVENUES ARE SALES TAXES ABOUT THREE TO $400,000 A MONTH.
AND YOUR BIGGEST EXPENSES ARE PARTICULARLY RIGHT NOW, DEBT SERVICE.
YOU HAVE A MONTHLY INSURANCE PAYMENT TO ALLIANCE BANK FOR ABOUT $80,000.
AND THEN YOU HAVE YOUR, UH, 2018, UM, BONDS THAT HAVE SEMI-ANNUAL PAYMENTS DUE.
UM, OH, SO OVERALL YOU'RE IN PRETTY GOOD FINANCIAL HEALTH.
BUT ONE THING I WANT TO NOTE IS THAT YOU DO HAVE A $12.9 MILLION PRINCIPAL PAYMENT DUE IN FEBRUARY OF NEXT YEAR.
SO WE HAVE TO BE VERY, VERY MINDFUL OF LAND SALES OVER THE NEXT SIX MONTHS.
UH, SO JUST KIND OF A HIGH LEVEL THERE FOR ANYONE THAT'S NEW.
UM, BUT I AM HAPPY TO OPEN IT UP TO ANY QUESTIONS, BIG OR SMALL.
I'M TRYING TO FIND THE, THE SALES TAX REVENUE REPORT.
UM, I JUST HAVE NOTICED A LITTLE BIT OF A DECLINE.
UM, AND I WAS JUST WONDERING IF WE COULD, UM, GOSH, I CAN'T, I JUST GOTTA GET TO THAT DOCUMENT HERE.
IT'S, UM, IS IT PRETTY TYPICAL TO, I MEAN, I'M LOOKING AT, UM, THE ACTUALS FOR THE PREVIOUS FISCAL YEAR AND IT'S, I'M NOT RECOGNIZING A SPECIFIC PATTERN.
SHOULD I JUST STOP WORRYING ABOUT TRYING TO FIND A PATTERN? OR IS THERE SOME REASON WHY WE WENT FROM 4 0 6 AND APRIL AND, AND NOW WE'RE DOWN, UM, TO 3 0 5 IN JUNE? SURE.
SO, UM, GENERALLY, UH, YOUR SALES TAX, YOU ARE GONNA SEE YOUR HIGHEST MONTH.
UH, TYPICALLY IN THE FEBRUARY COLLECTIONS, WHICH ARE DECEMBER SALES, EVERYONE'S HOLIDAY SHOPPING, THINGS LIKE THAT.
THE $406,000 WAS ACTUALLY SORT OF AN ANOMALY OF A MONTH.
THERE WAS A MAJOR PIECE OF EQUIPMENT THAT WAS SOLD TO SOMEONE IN THE CITY.
SO YOU GOT THE KIND OF THE REMOTE SALES TAX DOLLARS.
SO YOU WILL NOT SEE THAT PARTICULAR SALE HAPPENING VERY FREQUENTLY.
SO THAT'S KIND OF AN OUTLIER THERE.
WELL THAT MAKES SENSE 'CAUSE I WAS JUST, JUST WONDERING, OH, WE'RE, YOU KNOW, WE'RE TICKING UP AND THEN WE KINDA WENT DOWN AND THEN WE KINDA WENT DOWN AGAIN.
SO I DIDN'T KNOW IF MAYBE THAT WAS JUST A LARGER ECONOMIC INDICATOR THAT WE SHOULD BE AWARE OF, OR IF THAT WAS SOMETHING THAT WAS CONSISTENT.
YEAH, THAT, THAT WAS JUST A ONE TIME THING.
THAT WAS THE ONLY QUESTION THAT I HAD ON ALL THE FINANCIALS.
'CAUSE THIS IS ALL PRETTY MUCH THE SAME AS LAST MONTH.
AND ONE OTHER THING I'M GONNA NOTE IS, UH, I DID SEND CHENEY UPDATED CASH FLOWS FOR THOSE OF YOU THAT DON'T KNOW ABOUT, UH, ONCE A QUARTER, UM, CHENEY GOES OVER THE UPDATED CASH FLOW STATEMENT, WHICH IS A LITTLE BIT MORE BENEFICIAL IN LOOKING FORWARD, WHERE SOMETIMES YOUR FINANCIALS, IT'S JUST PRESENT MOMENT OR LOOKING BACK.
SO, UH, SHE'LL BE PRESENTING THAT TONIGHT AS WELL IN EXECUTIVE SESSION.
BECAUSE THOSE ARE CONFIDENTIAL
I, I LIKE TO MAKE A MOTION THAT WE APPROVE THE CORPORATION'S MONTHLY FINANCIAL REPORT FOR JUNE OF 2025.
WE HAVE A MOTION BY BOARD MEMBER MCLAUGHLIN, SECONDED BY BOARD MEMBER GONZALEZ TO APPROVE AS PRESENTED.
CAN I JUST CALL YOU SECRETARY MORALES? ABSOLUTELY.
I FEEL LIKE THAT'S A BIG ABSOLUTELY.
SO SINCE CHRISTINA WILL BE STAYING 4, 7 4 AND SEVEN FIVE, AGAIN, I'LL GO AHEAD AND MOVE THESE UP IF THAT'S, IF THERE ARE NO OBJECTIONS, HEARING NONE.
ALRIGHT, ON TO SEVEN FOUR, DISCUSS AND CONSIDER ACTION ON RESOLUTION R DASH HEDC DASH 2025 DASH 1 33 TO APPROVE A BUDGET AMENDMENT FOR THE FISCAL YEAR 2025 BUDGET TO ALLOCATE AND APPROVE FUNDS REQUIRED FOR THE ROAK SETTLEMENT.
I FEEL LIKE THE AGENDA ITEM IS PRETTY SELF-EXPLANATORY, BUT, UH, IN CASE THERE ARE ANY QUESTIONS, CHRISTINA'S HERE TO ADDRESS THAT FROM
[02:20:01]
A FINANCE STANDPOINT.UM, BUT THIS IS IN RESPONSE TO THE SETTLEMENT AGREEMENT THAT WAS, UM, THE PRODUCT OF MEDIATION LAST WEEK, AND THEN THE DIRECTION FROM THIS BOARD VIA ACTION AFTER EXECUTIVE SESSION FOR THE SPECIAL CALLED MEETING ON WEDNESDAY THAT EVENING, UM, TO GO AHEAD AND PROCEED WITH THE SETTLEMENT.
SO WE DO NEED A BUDGET AMENDMENT TO ALLOW FOR THOSE EXPENSES OR THAT EXPENSE I SHOULD SAY.
I JUST WANNA SAY FOR THE RECORD, IT WAS A VERY GOOD EXPERIENCE AND, UM, OUR ATTORNEY REALLY GUIDED US THROUGH THAT.
SO I'M GLAD IT TURNED OUT LIKE IT DID.
I THINK WE WERE ABLE TO, UM, STILL DO RIGHT BY, UM, ROAK, IS THAT THE WAY YOU SAY HIS LAST NAME? OZ ROAK.
AND I THINK HE WALKED AWAY HAPPY WITH THE SETTLEMENT AND WE SAVED, UH, THE CITY $75,000.
UM, I'D LIKE TO MAKE A MOTION TO APPROVE THE BUDGET AMENDMENT.
UH, LET'S SEE, RESOLUTION R-H-E-D-C 20 25 1 33 TO APPROVE THE BUDGET AMENDMENT FOR, UM, THE FUNDS REQUIRED FOR THE SETTLEMENT.
ALRIGHT, WE HAVE A MOTION BY BOARD MEMBER MCLAUGHLIN, SECONDED BY BOARD MEMBER PORTERFIELD.
DISCUSS, UH, OR EXCUSE ME, DISCUSSION AND POSSIBLE ACTION REGARDING THE CURRENT INCENTIVE AGREEMENT FOR SOUTHSIDE MARKET BARBECUE.
SO, UM, THIS WAS A REQUESTED ITEM FROM THE PREVIOUS BOARD CHAIR AND IN LOOKING INTO THIS, THIS IS NOT AN INCENTIVE AGREEMENT THAT THE EDC IS A PART OF.
SO THIS WOULD NEED TO BE CONSIDERED AT CITY COUNCIL.
SO THERE'S NO ACTION NEEDED ON THIS ITEM.
DO WE JUST REMOVE IT FROM THE AGENDA? LIKE, DO WE HAVE TO VOTE OR REMOVE IT OR WHATEVER? NO, THERE'S JUST NO ACTION.
ANYTHING ELSE YOU'RE GONNA BE HERE FOR CHRISTINA? NOPE, THAT'S IT.
ALRIGHT, UH, WE'RE GONNA JUMP BACK AND WE'LL HANDLE SEVEN TWO SINCE WE KEEP KICKING THAT ONE AROUND.
UM, DISCUSSION AND POSSIBLE ACTION REGARDING APPOINTMENT OF BOARD MEMBERS TO THE COTTONWOOD DEVELOPMENT SUBCOMMITTEE.
SO, UM, ALONG WITH THE BOARD CHANGEOVER, WE HAVE AN OPENING ON THE PREVIOUSLY APPOINTED, UH, SUBCOMMITTEE FOR THE MIDWAY SLASH UH, DEVELOPMENT OF THE COTTONWOOD PROPERTIES.
THE INTENTION OF THAT SUBCOMMITTEE WAS TO MEET WITH THE MIDWAY TEAM, UM, BETWEEN MONTHLY BOARD MEETINGS TO HELP PROGRESS THOSE CONVERSATIONS AND STILL PROVIDE BOARD INPUT ALONG THE WAY.
UM, WITH, UH, THE RECENT CHANGES ON THE BOARD, WE DO HAVE ONE OPENING THE CURRENT MEMBERS OF THAT SUBCOMMITTEE, OUR BOARD MEMBER GONZALEZ, AND BOARD MEMBER MCLAUGHLIN, UH, LEAVING ONE AVAILABLE APPOINTMENT THERE.
UM, I I WILL SAY I THINK THAT WE NEED A VERY HYBRID APPROACH TO THIS BECAUSE THERE ARE A LOT OF STAKEHOLDERS IN THE ROOM, YOU KNOW, BEYOND JUST CITY STAFF.
OBVIOUSLY CITY COUNCIL HAS A HUGE ELEMENT INSIDE OF THIS WITH RESPECT TO THE FINANCING PLAN AND APPROVING ANY MUDS, PUDS, TURS, ANY OF THE OTHER OUTFIT SOUPS THAT YOU CAN THINK OF.
UM, SO I WOULD LIKE TO HAVE A COUNCIL MEMBER ON THERE IF POSSIBLE, BUT AT THE END OF THE DAY, I CAN'T TELL Y'ALL WHAT TO DO.
SO IF IF IT'S SOMETHING THAT Y'ALL WOULD OR EITHER ONE OF Y'ALL WOULD TAKE ON, IT WOULD BE MUCH APPRECIATED.
I THINK IT PROVIDES, UH, A BETTER LEVEL OF INPUT FROM ALL PARTIES, UM, AND I THINK ADDRESSES, YOU KNOW, ANY ISSUES THAT WE MAY HAVE, UM, WITH THAT.
UM, THAT WAS EXACTLY MY THOUGHT AS WELL.
I MEAN, IT WOULD JUST MAKE MORE SENSE SO THAT THAT WAY WE DON'T HAVE THAT ADDITIONAL OR NO HURDLE JUST IN THE SPIRIT OF ALIGNMENT THAT EVAN LIKES TO TALK ABOUT.
UM, I THINK THAT WOULD GO A LONG WAY TO ACHIEVE THAT.
SO I'LL JUST ASK THE QUESTION.
SO WAS IT GONNA BE EVAN OR DAN
HOW OFTEN DOES THE SUBCOMMITTEE MEET? MM-HMM
WE'VE MET ONE TIME SINCE WE WERE APPOINTED.
AND THAT WAS WHAT, LIKE SIX MONTHS AGO? EIGHT MONTHS AGO, SEVEN MONTHS AGO.
WE MET ONCE, UM, DIRECTLY WITH DAVID AND THEN WE DID THAT LUNCH AND LEARN, UM, WHERE TALKED ABOUT IT WAS THE SAME PRESENTATION THAT THEY GAVE LAST, UH, THE OTHER DAY.
THAT WAS THE, SO ONCE A MONTH I WOULD ANTICIPATE NOT EVEN THAT MUCH.
I WOULD ANTICIPATE THAT SPEEDING UP GIVEN THE DEADLINES THAT WERE JUST ESTABLISHED.
PROBABLY I WOULD, I WOULD EXPECT
[02:25:01]
ONCE A MONTH PROBABLY.AND YOU HAVE SENIORITY ON, ON FROM THAT ASPECT.
SO I WOULD PROBABLY DEFER TO YOU, UNLESS YOU ABSOLUTELY SAID NO, THEN I WOULD, I WOULD HAPPILY FILL IN, BUT I'M JUST, SO THIS BOARD KNOWS I'M NOT A FAN OF SUBCOMMITTEES, SO I WILL BE A LITTLE BIT, UM, RELUCTANT ANYWAY, BUT I, I DO DEFER TO, TO DANCE SENIORITY AND, AND OBVIOUSLY, YOU KNOW, UNDERSTANDING SOME, SOME OF THE NUANCES.
I WOULD BE FINE IF YOU WERE DOING IT TOO.
IT DOESN'T BOTHER ME EITHER WAY.
DAN, THAT'S, THAT'S DAN'S VERSION OF A YES.
I THINK, I THINK, UH, I THINK I'LL RECOMMEND DAN.
DO I HEAR A NOMINATION FOR DAN? THAT WHAT I'M HEARING.
DAN, IS THAT SOMETHING YOU'RE WILLING TO ACCEPT? YES.
WITH THAT BEING SAID, I WILL SECOND THE MOTION.
UM, SO, UH, BOARD MEMBER PORTERFIELD HAS NOMINATED, UH, BOARD MEMBER THORNTON TO THE COTTONWOOD DEVELOPMENT SUBCOMMITTEE CHAIR OF SECONDED THAT.
WHY NOT? BOARD MEMBER MCLAUGHLIN AYE.
SO THANK YOU FOR YOUR SERVICE, MR. THR.
UM, ALRIGHT, NOW BACK ON SCHEDULE.
UH, ITEM 7, 6 6, UH, DISCUSS AND CONSIDER ACTION ON RESOLUTION R DASH HEDC DASH 2025 DASH 1 34 TO RATIFY THE SEVENTH AMENDED AND RESTATED BYLAWS OF THE TYPE B CORPORATION AND THE FOURTH AMENDED AND RESTATED BYLAWS OF THE TYPE A CORPORATION AS APPROVED AT THE SPECIAL CALLED MEETING OF THE BOARD ON JULY 9TH, 2025.
SO, UH, REALLY A FORMALITY AT THIS POINT, BUT, UM, TYPICALLY WHEN BYLAWS ARE AMENDED, THEY, THAT CORRESPONDS WITH A RESOLUTION.
SO I JUST WANTED TO, FOR CONSISTENCY IN RECORDS KEEPING AND PROCESSES AT LEAST RATIFY THOSE CHANGES.
UM, I BELIEVE THESE ARE GOING TO COUNCIL, UH, AUGUST 7TH, SO THEY WOULD BE IN PLACE AHEAD OF THE NEXT REGULAR, UH, BOARD MEETING.
I DID MAKE ONE REQUEST IN MY EMAIL COMMUNICATION.
UM, THERE ARE SOME LEGISLATIVE CHANGES COMING AS OF SEPTEMBER 1ST THAT REQUIRE AGENDAS TO BE POSTED.
THREE BUSINESS DAYS, NOT JUST 72 HOURS.
AND SINCE THIS BOARD MEETS ON MONDAY EVENINGS, THAT WOULD MEAN THAT THE AGENDA NEEDS TO BE POSTED ON WEDNESDAY EVENING.
AND, UM, THE CURRENT VERBIAGE IN THE CURRENTLY APPROVED AMENDED BYLAWS, UH, HAS A 10 DAY TURNAROUND EFFECTIVELY.
SO CHAIR CAN GET ME AGENDA ITEM TO PUT ON THE UPCOMING AGENDA, AND I WOULD EFFECTIVELY HAVE THREE BUSINESS DAYS TO TURN IT AROUND, WHICH AS I'VE STATED BEFORE, WE REALLY HAVEN'T ADHERED TO THAT PART OF THE BYLAW PREVIOUSLY.
THERE'S A LOT OF FLEXIBILITY THERE.
OBVIOUSLY IF IT'S SOMETHING THAT CAN BE ACHIEVED, HAPPY TO DO IT.
WHETHER THAT'S OUTSIDE OF THE 10 DAYS, YOU GET IT TO ME WEDNESDAY MORNING, IF I CAN TURN IT AROUND, I CERTAINLY WILL.
BUT THERE ARE MORE COMPLEX ITEMS AND SINCE THIS IS A STANDARD, NOT AN EXCEPTION, UH, I JUST WANNA BE MINDFUL OF THAT.
'CAUSE OFTENTIMES THE MORE COMPLEX, UM, REQUESTED ITEMS REQUIRE COORDINATION WITH FINANCE OR ENGINEERING OR DEVELOPMENT SERVICES, OR OFTENTIMES LEGAL AND SOMETIMES EXTERNAL THIRD PARTIES.
SO I JUST WANNA BE MINDFUL OF THAT.
IF WE'RE PUTTING IT IN HERE AS A, AS A REQUIREMENT.
IF YOU'RE COMING AT ME WITH FIVE COMPLEX ITEMS ON
SO I JUST WOULD PREFER THAT WE REVERT BACK TO THE 14 TO GIVE ME, 'CAUSE I, I WORK A LOT OF WEEKENDS ANYWAY, SO THAT DOESN'T BOTHER ME AS MUCH, IS JUST GETTING IT SO CLOSE TO THE, THE ACTUAL TURNAROUND TIME, I THINK WITH 10.
AND THE REASON WHY IS, UM, OBVIOUSLY I LIKE TO MOVE QUICK MM-HMM
BUT, UM, YOU, YOU DON'T HAVE TO HAVE THOSE, THE PACKET ITEMS READY FOR THE AGENDA.
YOU JUST HAVE TO POST THE AGENDA AND WE DON'T POST THE PACKET, UM, LIKE CITY COUNCIL DOES.
SO TO ME, YOU STILL HAVE TIME TO GET THOSE, THOSE BACKUP MATERIALS.
LIKE YOU HAVE MORE DAYS BECAUSE YOU DON'T HAVE TO HAVE THAT FOR THE AGENDA ITEM.
YOU HAVE TO HAVE THE AGENDA ITEM.
SO, SO, SO, AND, AND I KNOW YOU'RE NOT GONNA GET, HOPEFULLY YOU'RE NOT GONNA GET EVERY AGENDA ITEM ON THE LAST DAY.
WE WOULD BE HORRIBLE TO YOU IF WE DID THAT, BUT THANK YOU.
IT WILL HAPPEN THAT YOU'LL GET ONE OR TWO, MAYBE THREE.
BUT AGAIN, THE, THE, THE BACKUP MATERIAL IS NOT REQUIRED BY THE POSTING DEADLINE.
UM, SO I'M STILL GOOD WITH THE 10.
THAT'S JUST KIND OF HOW I FEEL ABOUT IT.
AS LONG AS THE GENERAL UNDERSTANDING IS EXACTLY WHAT YOU SAID.
BUT I THINK TYPICALLY THE EXPECTATION IS THAT THOSE MATERIALS COME OUT AS CLOSE TO THE AGENDA POSTING AS POSSIBLE.
AND SO WE USUALLY TRY FRIDAY, IF NOT SATURDAY MORNING RIGHT NOW JUST YEAH.
DEPENDING ON WORKLOAD AND YEAH, I UNDERSTAND AMOUNT OF, SO YEAH, USUALLY YOU SEND US THE AGENDA AND THE
[02:30:01]
LINKS IN THE SAME EMAIL MM-HMMBUT ALSO THERE'S, YOU KNOW, THERE'S OFTENTIMES WHERE YOU SAY YOU'LL SHOOT A TEXT OR AN EMAIL AND SAY THERE'S MORE DOCUMENTS.
THERE'S STUFF ADDED KNOW, BECAUSE WE'RE WAITING ON LEGAL A LOT.
UM, SO YEAH, I MEAN, I THINK AS I WOULD LIKE TO HAVE THE AGENDA EARLIER MM-HMM
THE AGENDA WILL DEFINITELY BE COMING EARLIER.
'CAUSE YOU DON'T, YOU, YOU, YOU HAVE TIME TO GET US BACK UP DOCUMENTS.
AS LONG AS WE HAVE 'EM BEFORE THE MEETING.
AND FOR CLARIFICATION, THE AGENDAS FOR THIS BOARD ARE POSTED ONLINE IN THE SAME LOCATION AS THE CITY COUNCIL AGENDA.
SO RIGHT NOW TOOMA REQUIRES THAT TO BE 72 HOURS, WHICH IS FRIDAY.
SO FRIDAY BEFORE SIX 30, THOSE ARE POSTED PUBLICLY.
EVEN IF I DON'T SEND IT VIA EMAIL, YOU DO HAVE ACCESS TO THAT.
SO MOVING FORWARD FROM SEPTEMBER ONE, THEY'LL BE POSTED WEDNESDAY EVENING BY SIX 30.
BUT AS LONG AS THE, THE UNDERSTANDING IS THAT HEY, THE DOCUMENTS AND STUFF AREN'T GONNA COME ON WEDNESDAY.
ON WEDNESDAYS AS WELL, ESPECIALLY THE COMPLEX ITEMS AND THEY REQUIRE A LOT OF OTHER STAFF INPUT.
THAT MAKES PERFECT SENSE TO ME.
ALRIGHT, SO ENTERTAIN A MOTION.
SOUNDS LIKE WE'VE GOT IT FIGURED OUT.
SO, SORRY, I JUST WANNA CLARIFY FOR THE RECORD.
SO MY PROPOSED CHANGE WOULD HAVE ALTERED THAT THAT IS NOT MOVING FORWARD.
SO WHAT YOU ARE RATIFYING IS WHAT YOU DIRECTED AND APPROVED LAST WEDNESDAY NIGHT.
MOTION TO APPROVE RESOLUTION R DASH HEDC DASH 2 25 DASH 34 AS PRESENTED SECOND.
ALRIGHT, WE HAVE A MOTION BY BOARD MEMBER PORTERFIELD SECONDED BY SECRETARY MORALES.
SORRY, I'M AS PRESENTED WITH THE CHANGE WITH THE ONE CHANGE THOUGH, RIGHT? NO, NO, THERE'S NO CHANGE.
YEAH, 'CAUSE SHE, SHE REQUESTED US TO CHANGE IT.
BUT IT THOUGHT THE CHANGE IS NOT IN THERE.
YEAH, I WOULD, WHAT WHAT IS PRESENTED IS WHAT WE DISCUSSED AND APPROVED IN OUR LAST MEETING.
ANY OTHER DISCUSSION? HEARING NONE, ROLL CALL PLEASE.
UH, DISCUSS, CONSIDER ACTION ON RESOLUTION R DASH HEDC DASH 2025 DASH 1 35 TO APPROVE A SHARED ACCESS DRIVEWAY, EXCUSE ME, SHARED ACCESS DRIVEWAY AGREEMENT FOR PROJECT STRAT THREE AND SUPPORT OF THE DEVELOPMENT OF THE MEGA SITE.
UH, LOTS OF INFORMATION PROVIDED IN THE EMAIL AND, UH, DOCUMENTS LINK.
BUT JUST TO REITERATE, THIS WAS SOMETHING THAT THE BOARD HAD CONSIDERED AND APPROVED.
THIS WAS INTENDED TO BE A SHARED USE DRIVE BETWEEN THE PROJECTS STRAT THREE AND FLEX OUT ON THE MEGA SITE.
AND A MAP WAS PROVIDED FOR YOUR REFERENCE.
UM, PROJECT STA THREE IS JUST MOVING FASTER AND SO THEY NEED TO NAIL DOWN THAT DRIVEWAY AND GET THAT APPROVED.
SO IN LIEU OF HAVING PROJECT FLEX, UM, OWN THE PROPERTY NEXT TO THEM.
AT THIS POINT, WE ARE STILL THE PROPERTY OWNER AND WOULD BE AGREEING TO A SHARED ACCESS DRIVE ONCE PROJECT FLEX OR WHATEVER OTHER DEVELOPMENT MAY COME THERE IN THE FUTURE, UM, WOULD BE RESPONSIBLE FOR THEIR PART OF THAT SHARED DRIVE.
AND THE REASON FOR THE SHARED DRIVE IS JUST BECAUSE OF THE, UM, CURB CUTS AND THE DISTANCE, UH, BOTH OF THOSE DEVELOPMENTS WE'RE REQUESTING CURB CUTS AND DRIVES RIGHT NEXT TO EACH OTHER.
AND THAT DIDN'T MAKE A LOT OF SENSE.
AND I THINK IT VIOLATED KIND OF OUR, OUR, UH, STANDARD, UM, FOR CURB CUTS IN THAT TIE OR IN THAT DISTANCE.
SO CITY ENGINEER GAVE THAT FEEDBACK TO EXPLORE SHARED DRIVE AND HERE WE ARE.
AND SO THIS, THEY AGREED, UH, UH, THIS RESOLUTION IS NOTHING MORE THAN APPROVING THE ACCESS EASEMENT.
NO FUNDS CALL OR EXCHANGED NOTHING.
THERE'S NO FUNDS EXCHANGED IN THE EASEMENT.
IF FOR SOME REASON YOU DON'T MOVE FORWARD WITH A PROPERTY SALE AND ANOTHER PROJECT ON THAT LOT, THEN YOU WOULD BE RESPONSIBLE FOR 50% OF THE MAINTENANCE AND CONSTRUCTION COST OF THE SHARED DRIVEWAY.
SO IT DOES INVOLVE FUNDS IN THAT SENSE.
IT'S JUST THAT WE'RE NOT ACTUALLY ANTICIPATING HAVING TO SPEND THEM 'CAUSE WE'RE ANTICIPATING IT GOING TO A DEVELOPER.
THE EXPECTATION IS THAT REGARDLESS OF WHAT DEVELOPMENT OCCURS, IMMEDIATELY ADJACENT, THEY'RE GONNA WANT THAT DRIVE TOO, BECAUSE THAT'S WHAT FITS THE SITE PLANS.
UH, SO AND IT RUNS WITH THE LAND SO THEY WON'T HAVE AN OPTION.
WELL, I, WE, IF WE DO GET IN A SITUATION WHERE THE PEOPLE ON THE OTHER SIDE DON'T CLOSE AND WE HAVE TO PAY FOR HALF OF THE CONSTRUCTION, CAN WE JUST MAKE SURE THAT WE'RE COLLECTING THAT BACK YEP.
FROM WHOEVER DOES GET THAT OTHER SPACE SO THAT THAT JUST DOESN'T
[02:35:01]
END UP BEING US PAYING FOR THAT FOR ME.THAT WOULD BE THE, THE PROCESS THERE.
ANYONE WANNA MAKE A MOTION? ANYONE? ANYONE? MOTION TO APPROVE RESOLUTION R DASH HEDC DASH 2025 DASH 1 35 TO APPROVE THE SHARED ACCESS DRIVEWAY AGREEMENT FOR PROJECT STRAT.
WE HAVE A MOTION BY SECRETARY MORALES, UH, OR EXCUSE ME.
UH, MOTION BY SECRETARY MORALES.
SECONDED BY, UH, BOARD MEMBER PORTERFIELD.
UH, TO APPROVE, UH, 7.7 AS PRESENTED.
AND BOARD MEMBER GONZAL, OR SORRY, BOARD MEMBER MCLAUGHLIN.
POINTING AT THE WRONG MOTION PASSES.
OH, I'M GOING ALL CRAZY OVER THERE.
WELL, IT'S 'CAUSE I KEEP POINTING AT THE NEXT ONE AND MY EYES MOVE BEFORE MY MOUTH IS DONE.
SO THIS RESULTED FROM THE, UM, SPECIAL CALL MEETING LAST WEEK WHERE WE HAD OUR TWO BOARD MEMBERS WHO ARE ALSO COUNCIL MEMBERS AS WELL AS TWO NON-BOARD MEMBER COUNCIL MEMBERS.
UH, ALSO ANTICIPATING THE OPPORTUNITY FOR, FOR THERE TO BE FOUR BOARD MEMBERS, FOUR COUNCIL MEMBERS ON THIS BOARD.
UM, THERE WERE SOME CURRENT CONCERNS RAISED BY STAFF, UM, AS WELL AS A COUPLE OF BOARD MEMBERS REGARDING TOMA COMPLIANCE AND HOW TO EFFECTIVELY NAVIGATE THAT.
SO REALLY THIS ITEM WAS A LEGAL, UM, REQUEST TO BETTER UNDERSTAND AND, AND SEE IF THERE'S ANYTHING THAT WE NEED TO PUT IN PLACE, WHETHER THAT IS JUST WE NEED TO POST OUR AGENDAS AS AS JOINT MEETINGS SHOULD THERE BE FOR, UH, COUNCIL MEMBERS ON THIS BOARD.
UM, AND THEN ALSO FOR NOW, SINCE WE HAVE TWO COUNCIL MEMBERS, IF THERE IS A QUORUM OF COUNCIL MEMBERS PRESENT, DO WE NEED TO HAVE ANYTHING SPECIFIC TO EXECUTIVE SESSION WHEN THEY'RE PARTICIPATING IN DISCUSSIONS TO ENSURE THAT WE ARE NOT BREAKING TOMA? SO, UM, I DID SEND A REQUEST OUT TO EDC LEGAL AND CITY LEGAL, UH, JUST TO GET ANY FEEDBACK, UH, AND GLEAN FROM THEIR EXPERIENCE IF THEY'VE ENCOUNTERED THIS BEFORE, WHERE THERE'S BOARDS THAT HAVE A QUORUM OF COUNSEL ON THEM OR A QUORUM OF COUNSEL IN ATTENDANCE AND EXECUTIVE SESSION.
IT'S REALLY TO MITIGATE RISK FOR THE CORPORATION BECAUSE, UM, YOU KNOW, SHOULD THERE BE A DISGRUNTLED DEVELOPER OR BUSINESS OWNER THAT IS UPSET ABOUT A DECISION THAT THIS BOARD MAKES, THEY COULD GO FILE A TOMA COMPLAINT IF IT IS VALIDATED, IT UNDOES THE ACTIONS OF THIS BOARD AND THAT'S NOT VERY WELL ALIGNED.
SO IF THERE'S SOMETHING THAT WE NEED TO ADJUST NOW, THEN I WOULD RATHER GET OUT AHEAD OF THAT AND HAVE THAT IN PLACE SO THAT WE DON'T RUN THAT RISK IN THE FUTURE.
SO I WILL DEFER TO LEGAL COUNSEL.
UM, I HAVE A COUPLE THINGS I WANTED TO SAY.
ONE IS, I THINK THAT THE REAL RISK DOES, I MEAN IT LIES WITH THE HEDC BECAUSE WE'RE INVOLVED.
ANYTHING THAT WE'RE, THAT YOU ARE DOING THAT YOU ARE TALKING ABOUT AT A MEETING IS OBVIOUSLY INVOLVING ONE OF YOUR PROJECTS.
BUT THE TOMA VIOLATION WOULD BE ON THE PART OF THE CITY.
SO IT WOULD BE MORE LIKELY TO INVALIDATE THE CITY'S ASPECT, BUT THAT CAN STILL UNDERMINE THE HCS INVOLVEMENT AND, AND, AND YOUR PROJECT.
SO JUST BECAUSE IT'S THE CITY'S VIOLATION DOESN'T MEAN IT'S NOT GONNA HAVE AN IMPACT ON THE HDCS UH, PROJECTS.
UM, SO TYPICALLY WHEN YOU HAVE MULTIPLE, LIKE A POSSIBLE A QUORUM ON A BOARD, IF THEY ARE NOT TALKING ABOUT CITY BUSINESS, THEN THEY ARE CONSIDERED BOARD MEMBERS.
I THINK GEORGE TALKED ABOUT THIS SOME PREVIOUSLY.
UM, AND THEY'RE NOT THERE IN THEIR CAPACITY.
THE PROBLEM IS A LOT OF THE WORK THAT THE A GDC DOES ALSO INVOLVES DEVELOPMENT AGREEMENTS FOR THE CITIES AND, AND THOUGHTS ON WHAT, HOW CITY COUNCIL MIGHT RESPOND TO SOMETHING.
AND THEN IT'S REALLY EASY TO BRANCH OFF INTO MATTERS THAT ARE ACTUALLY CITY, CITY BUSINESS, EVEN THOUGH THEY'RE RELATED.
THEY'RE NOT RELATED TO THE PART THAT THE HTDC HAS CONTROL OVER.
AND SO THEN YOU'RE VENTURING OUT INTO SOMETHING THAT IS CITY BUSINESS AND INDEPENDENT OF THE HGDC.
UM, THERE'S DIFFERENT WAYS TO ADDRESS IT.
ONE WOULD BE TO HAVE REALLY STRICT CONTROL, UM, IN THE MEETINGS.
LIKE SHE SAID, WE COULD PREVENT HAVING A QUORUM WHEN IF THERE'S NOT A QUORUM ON THE BOARD, WE COULD PREVENT HAVING
[02:40:01]
A QUORUM IN THE ROOM.WE CAN MAKE SURE THAT THE, YOU KNOW, CHAIR AND LEGAL ARE REALLY ON TOP OF PEOPLE.
BUT A SAFER TOMA BET WOULD BE TO JUST NOTICE THE MEETING TO SATISFY TOOMA FOR BOTH CITY COUNCIL AND THE HEDC.
SO THIS ACTION IS JUST FOR YOU GUYS TO TALK ABOUT HOW YOU WANT TO ADDRESS THAT AND WHETHER OR NOT YOU WANNA MAKE A POLICY CHANGE, UM, TO GIVE GUIDANCE TO THIS CHAIR OR A FUTURE CHAIR AND TO GIVE GUIDANCE TO, UM, CHENEY AS TO HOW TO PREPARE THE AGENDAS.
SO WHAT YOU'RE SAYING IS THAT IF WE HAVE, OKAY, OBVIOUSLY IF THERE'S FOUR FOUR AND THEY'RE ALL BOARD MEMBERS, THEN IT'S NOT A VIOLATION BECAUSE THE, THE MEETING IS NOTICED, BUT, WELL, I JUST WANNA MAKE SURE I UNDERSTAND THIS AND THEN, BUT WHAT YOU'RE SAYING IS THAT IF WE HAVE, SINCE WE HAVE TWO, THAT IF WE HAVE TWO MORE THAT SIT IN THAT WE, WE CAN'T NOTICE BECAUSE THEY, THEY'RE COMING IN, YOU KNOW, UNANNOUNCED OR WHATEVER AT THAT MEETING.
EITHER WAY WE HAVE A, WE HAVE NO LANGUAGE ON THE AGENDA FOR POSSIBLE QUORUM AND THAT IS TO DEAL WITH THE IDEA THAT A QUORUM MIGHT BE IN THE ROOM.
UM, AND THAT'S STILL KIND OF ON THE IDEA.
IT'S STILL NOT NOTICED FOR POTENTIAL DISCUSSION OF CITY ACTION.
SO THAT'S STILL ON THE IDEA THAT THEY'RE ONLY TALKING ABOUT HEDC BUSINESS AS LONG AS THEY'RE NOT TALKING ABOUT CITY, CITY BUSINESS ACTION ITEMS OR RIGHT.
BUT THE THING IS, A LOT OF HEDC, THE REASON THIS CAME UP IS 'CAUSE A LOT OF HEDC CITY COUNCIL ULTIMATELY APPROVES EVERYTHING.
BUT ALSO A LOT OF HEDC PROJECTS INVOLVE A CITY COUNCIL APPROVAL ASPECT THAT IS SEPARATE FROM THE HCS APPROVAL.
LIKE FOR EXAMPLE, WE HAVE, YOU KNOW, A PROJECT THAT THE CITY IS GOING TO APPROVE OUR PURCHASE AND SALE AGREEMENT.
AND SO DISCUSSION OF THE PURCHASE AND SALE AGREEMENT IS NOT CITY BUSINESS EVEN THOUGH THIS, IN THIS CONTEXT 'CAUSE IT'S HGTC BUSINESS AND IT REALLY IS, UM, I MEAN IF YOU STARTED TALKING ABOUT WHETHER OR NOT CITY COUNCIL IS GOING TO APPROVE THE PURCHASE AND SALE AGREEMENT, THEN THAT COULD BRANCH OUT.
BUT IT'S STILL WITHIN THE, IT'S WITHIN THE RANGE.
BUT LET'S SAY THE PROJECT THEN HAS SEPARATE MMDS PUD AND THINGS THAT WE WOULD TALK ABOUT, BUT THEY ARE DECISION MAKING, YOU KNOW, THEY ARE DELIBERATING ON THIS ACTION THAT THEY'RE GONNA DO.
IF YOU IN THE ROOM AND THEY START HAVING A CONVERSATION, THEN THAT'S NOT PROPERLY NOTICED.
SO I JUST WANNA MAKE SURE UNDERSTAND, IT'S JUST A LOT OF PROTECTION.
BUT IF WE'RE GOING FOR JUST ABSOLUTE AS MUCH TOOMA COMPLIANCE AS WE CAN, VERY LITTLE RISK.
THEN THERE'S A DISCUSSION AS TO WHETHER OR NOT TO JUST SWITCH THE AGENDAS.
IT'S UP TO YOU GUYS ON HOW YOU WANNA HANDLE IT.
SO WE, WE POST NOW THAT THERE'S A POSSIBLE QUORUM MM-HMM
SO THE ISSUE IS WHETHER OR NOT THERE'S COLLATERAL THINGS WE MIGHT WANNA POST.
SO IF WE'RE ALREADY POSTING THAT THERE'S A POSSIBLE QUORUM, WHAT'S THE RUB THAT SOMETIMES THE CONVERSATION BRANCHES OFF INTO THINGS THAT ARE NOT ON THE AGENDA.
SO IF WE WANT TO SAY, HEY, LIKE RIGHT NOW THE AGENDA IS SET ONLY FOR HDCS MATTERS THAT ARE RELATED TO THIS THING.
SO IF THE CITY COUNCIL IS GONNA START HAVING A CITY COUNCIL DISCUSSION ABOUT THINGS THAT THE HGDC DOESN'T HAVE ANY CONTROL OVER, THEN THERE'S AT LEAST AN ARGUMENT THAT SOMEONE COULD MAKE IN, IN A POTENTIAL LAWSUIT TO SAY, OKAY, WELL THE HEDC DOESN'T ACTUALLY HAVE THAT.
SO THIS, THIS IS RISK MANAGEMENT.
I'M NOT SAYING IT'S MM-HMM
THIS IS AVOIDING, UM, PERCEPTION TO AVOID LAWSUITS.
AND SO IT'S A DISCUSSION POINT TO HAVE AND SAY THE COUNCIL APPROVES THE BYLAWS THAT WE HAVE JUST APPROVED, RATIFIED, WHATEVER, AND THEY PUT FOUR COUNCIL MEMBERS ON THIS BOARD.
THEN WHAT? THEN AGAIN, I THINK THIS ISN'T THEN THIS IS A MOOT POINT OR NO, I THINK AGAIN, IT'S STILL A CONVERSATION TO HAVE WHETHER OR NOT TO POST IT AS A JOINT MEETING OR, OR TO POST POSSIBLE QUORUM AND AND TOPICS.
AND I WOULD SAY JOINT MEETING IF YOU'RE GOING TO BE WORRIED ABOUT IT.
BUT PEOPLE EITHER NEED TO REALLY STAY ON TOPIC AND NOT HAVE DISCUSSIONS THAT ARE BEYOND HEDC MATTERS, WHICH IS ONE OF THE WAYS WE GO ABOUT IT.
THAT'S WHY I SAY WE CAN JUST AUTHORIZE, GIVE DIRECTION TO THE CHAIR AND SAY, YOU KNOW WHAT? WE'RE GONNA SHUT THIS DOWN IF YOU START TO BRANCH OFF, PEOPLE ARE GONNA TRY REALLY HARD, HAVE THE AUTHORITY THAT HE ALREADY HAS.
THAT'S JUST WHAT I WAS GONNA SUGGEST TO, TO, TO, IF YOU'RE COOL WITH THAT.
I THINK IT'S A RISK ALL THE TIME BECAUSE YOU CAN GO OFF TOPIC OF WHAT'S ON THE AGENDA SURE.
AND THEN YOU'RE IN VIOLATION OF TOMA MM-HMM
IF YOU DISCUSS SOMETHING ELSE.
IF WE, IF WE START ADDRESSING POLICY, PROJECT POLICY, ANY OF THAT, LIKE THAT'S NOT OUR TWO DIFFERENT PROJECTS WE'RE RIGHT.
AND COUNCIL DEALS WITH THIS ALREADY BECAUSE THERE ARE OTHER BOARDS THAT ARE MADE UP OF COUNCIL MEMBERS MM-HMM
ALL THE TIME WHERE WE CAN'T HAVE A LOCAL GO GOVERNMENT CORPORATION MEETING IN THE MIDDLE OF A COUNCIL MEETING BECAUSE, BUT YET ALL THE MEMBERS OF THE LOCAL GOVERNMENT CORPORATION ARE ON THE COUNCIL.
SO I THINK IT'S SOMETHING COUNCIL IS USED TO NAVIGATING AND STAYING ON THE AGENDA IS REALLY, YEAH.
I DON'T THINK IT REQUIRES A POLICY CHANGE.
JUST, YOU KNOW, HEY CHAIR, DO WHAT YOU'RE SUPPOSED TO DO, BUD.
[02:45:01]
THAT SIMPLE.I BELIEVE THE APPROPRIATE LANGUAGE IS POINT OF ORDER.
IF YOU WANNA
ALRIGHT, SO I'LL PUT IT IN THE BUDGET.
Y'ALL ARE ALL IN AGREEANCE THAT THERE IS NO ACTION.
SO YOU WOULD JUST SAY STOP IT.
SO, AND THAT'S IN EVEN AN EXECUTIVE CORRECT.
BECAUSE WE CAN'T, WE CAN'T VEER OFF OF CORRECT AGENDA ITEMS AND EXECUTIVE, IT'S REALLY IMPORTANT THAT EVERYBODY STAYS ON THAT.
EVEN TONIGHT I FEEL LIKE WE'VE GOTTEN ON THE FRINGES OF CERTAIN STUFF AND IT'S OKAY.
LIKE IT'S ALL, LIKE, IT'S ALL FOR THE GREATER GOOD, BUT IT JUST, WITH THE WAY THE LAWS ARE WRITTEN, WE HAVE TO BE SO NARROWLY FOCUSED ON WHATEVER IT IS.
SO NOT THAT ANYBODY SAID ANYTHING WRONG, I JUST WE'RE, WE GOTTA BE REALLY CAREFUL WITH THAT.
SO BELIEVE WE HAVE AGREEMENT, NO ACTION ON THIS ITEM.
OR NO ACTION REQUIRE WHATEVER, UH, SEVEN NINE DISCUSS.
CONSIDER ACTION REGARDING AFFORDABLE HOUSING PROJECTS IS ALLOWED UNDER CHAPTER 5 0 1 OF THE TEXAS LOCAL GOVERNMENT CODE.
SO THIS CORRESPONDS TO AN ITEM THAT WE'RE GOING TO DISCUSS IN EXECUTIVE SESSION.
HOWEVER, I FELT THAT A GENERAL INFORMATION, UH, DEBRIEF FROM LEGAL COUNSEL WAS NOT APPROPRIATE TO HAVE AN EXECUTIVE SESSION.
SO THIS PIECE I PUT ON FOR PUBLIC SESSION, UM, AFFORDABLE HOUSING IS SOMETHING THAT IS, UM, ELIGIBLE FOR SUPPORT FROM THE EDC.
IT IS NOT SOMETHING TO MY KNOWLEDGE THAT THE HU OEDC HAS EVER CONSIDERED, BUT WE DO HAVE, UM, A POTENTIAL OPPORTUNITY THAT WE'LL DISCUSS AN EXEC.
SO I WANTED LEGAL COUNSEL TO GIVE SOME GUIDANCE TO THIS BOARD BEFORE WE HEAD INTO THAT DISCUSSION ABOUT WHAT TYPES OF AFFORDABLE HOUSING QUALIFY AND IF THERE'S ANY CERTAIN METRICS THAT WE NEED TO BE AWARE OF, BEST PRACTICES, UM, AND OBVIOUSLY JUST FROM A LEGAL STANDPOINT WHAT WE ARE AND ARE NOT ALLOWED TO DO.
IT'S, IT'S HONESTLY NOT HUGELY COMPLICATED, THANKFULLY.
UM, ONE OF THE BASE THINGS, IF YOU WANT TO, IT'S KIND OF SIMILAR TO JUST WHEN YOU WANNA HAVE THE EDC YEAH.
INCENTIVIZE HOUSING IN GENERAL, YOU NEED TO HAVE A RESOLUTION OR SOMETHING THAT FINDS THAT AFFORDABLE HOUSING IS BENEFICIAL FOR ECONOMIC DEVELOPMENT.
LIKE THERE'S A LACK OF AFFORDABLE HOUSING IS HINDERING BUSINESS IN THE AREA, THAT SORT OF A THING.
UM, A LOT OF TIMES PEOPLE WILL FOLLOW BY FEDERAL GUIDELINES ON WHAT, OR STATE GUIDELINES ON WHAT IS OR IS NOT AFFORDABLE HOUSING TO AVOID ANY KIND OF COMPLICATIONS.
UM, WHEN THEY, WHEN WE'RE TALKING ABOUT INCENTIVIZING, UM, A LOT OF TIMES IT COME, COMES INTO PLAY IN THE TERMS OF LIKE DEVELOPMENT AGREEMENTS.
WHEN YOU SAY, OKAY, WELL WE WANNA SEE THIS PERCENTAGE OF AFFORDABLE HOUSING, UM, MAY BE CONSIDERED IN THE HOUSING THAT IS, THAT IS BEING BROUGHT.
OR WE CAN SAY, OKAY, WELL WE'RE, WE ARE REALLY FINDING THAT THERE IS, WE WANT AFFORDABLE HOUSING THAT IS FOR SALE, YOU KNOW, UM, THROUGH HUD PROGRAMS AND THINGS, OR WE WANNA FOCUS ON, WE DON'T HAVE ENOUGH AFFORDABLE RENTAL AND YOU CAN BRANCH OFF TO THESE SPECIFICS.
UM, EDCS DO DO THIS TO HELP GUIDE AND MAKE SURE THAT THERE'S A MIX OF DEMOGRAPHICS WITHIN AN AREA.
UM, BUT IT'S REALLY JUST ONE OF THE THINGS THAT YOU CAN CONSIDER THAT WE HAVEN'T SEEN THIS BOARD CONSIDER IN THEIR DEVELOPMENT AGREEMENTS.
AND YOU CAN INCENTIVIZE IT IN BASICALLY EVERY WAY.
YOU CAN INCENTIVIZE ANYTHING ELSE, BUT A LOT OF TIMES PEOPLE USE IT WITH PARAMETERS, PERCENTAGES, UM, AND COMPLIANCE WITH FEDERAL GUIDELINES.
SO IT'S NOT A REQUIREMENT FOR BUILDERS TO HAVE A PERCENTAGE OF A MULTIFAMILY, UH, COMPLEX? NO, IT'S, IT'S TIED TO FUNDING AND THINGS MM-HMM
SO IS THAT A YES OR ONLY IF THEY GET INTO AN AGREEMENT AND THEY SEEK CERTAIN TYPES OF FUNDING.
JUST FOR CLARIFICATION, SO YOU MENTIONED DEVELOPMENT AND UM, BRINGING AFFORDABLE HOUSING.
WHAT ABOUT SUPPORTING AN EXISTING DEVELOPMENT? IS THAT SOMETHING THAT THE CORPORATION CAN DO? UM, OFFER FINANCIAL SUPPORT TO AN EXISTING DEVELOPMENT? OR WOULD IT HAVE TO BE NEW DEVELOPMENT? IT'S GONNA BE BEST IF WE IS AS IT GOES WITH ANY SORT OF IN INCENTIVE.
LIKE IT DEPENDS ON WHAT YOU MEAN BY SUPPORTING AN EXISTING DEVELOPMENT.
IF WE'RE MAKING A CHANGE, UM, IN THE DEVELOPMENT TO SAY, OKAY, WELL YOU'RE GONNA TAKE THIS AND HAVE MORE AFFORDABLE HOUSING THAN YOU HAD BEFORE, BUT WE DON'T INCENTIVIZE THINGS THAT ARE ALREADY IN EXISTENCE AND NOT MAKING ANY CHANGES.
SO I GUESS THAT DEPENDS ON WHAT YOU MEAN BY, UM, INCENTIVIZING EXISTING.
SO WE, WE ARE GONNA WANNA SEE SOMETHING IN RETURN AND SO THAT WOULD USUALLY BE AN INCREASED AMOUNT OF AFFORDABLE HOUSING.
UM, LIKE IF YOU HAD A COMPLEX THAT'S ALREADY EXISTING WITH GREATER DEVELOPMENT OR SOMETHING, IT WOULD BE I GUESS A CONVERSION OF SOME TYPE SOMETHING IN RETURN.
TO WHERE A LOT OF TIMES IT'S A PERCENTAGE, A LOT OF TIMES IT'S TYPES MM-HMM
BECAUSE PEOPLE WILL OFFER, OKAY, WELL YOU HAVE, THEY'LL SAY THAT THEY HAVE AFFORDABLE HOUSING, BUT THEN IT'S REALLY OFF IN THE BACK AND IT'S LIKE ONE,
[02:50:01]
IT'S A COUPLE UNITS AND THEY'RE NOT GOOD UNITS AND THEY TIME OUT.'CAUSE AFFORDABLE HOUSING DOESN'T HAVE TO LAST THROUGH THE ENTIRETY OF A, YOU KNOW, OF A PROJECT.
AND SO PLACES WILL SAY NO, NO, YOU NEED TO MIX THEM.
THEY'LL SAY YOU HAVE TO HAVE A CERTAIN AMOUNT IN EACH AREA SO THAT YOU'RE NOT, YOU KNOW, CREATING LESS ECONOMICALLY DIVERSE, YOU KNOW, AREAS AND WE'LL SAY YOU HAVE TO HAVE A VARIETY OF BEDROOM AND BATHROOM SIZES AND EITHER OWNERSHIP OR LEASE, YOU KNOW MM-HMM
SO THEY'LL DO THAT KIND OF THING, BUT IT'S A WAY TO CREATE IT WHEN YOU CAN'T, YOU CAN'T HAVE THOSE REQUIREMENTS OTHERWISE YOU THANK YOU.
NO ACTION ON SEVEN NINE, UM, ONTO SEVEN 10.
DISCUSS AND CONSIDER ACTION TO APPROVE THE MINUTES FROM THE CORPORATION'S REGULAR MEETING ON JUNE 9TH, 2025 AND OUR SPECIAL CALL MEETING ON JULY 9TH, 2025 MINUTES WERE PROVIDED.
SO IF THERE'S NO QUESTIONS THEN YOU KNOW WHAT TO DO.
MOTION TO APPROVE A SECOND PRESENT.
THERE WAS THIS ENTHUSIASM EARLIER.
AT NO POINT DURING THIS MEETING DO I RECALL ME REMOVING ANY AMOUNT OF ENTHUSIASM.
I HAVE A MOTION BY, UH, BOARD MEMBER REPORTER FIELD.
SECONDED BY BOARD MEMBER MCLAUGHLIN, UH, TO APPROVE, EXCUSE ME, TO APPROVE AS PRESENTED.
UM, OPEN IT UP FOR DISCUSSION.
ROLL CALL BOARD MEMBER THORNTON AYE.
MOTION PASSES SIX OH UH, EXECUTIVE SESSION.
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 DEVELOPMENT AND 5 5 1 0 7 2 REAL PROPERTY DELIBERATE AND SEEK LEGAL ADVICE REGARDING ROSBERG VERSUS ECONOMIC DEVELOPMENT CORPORATION PENDING ON WILLIAMS COUNTY DISTRICT COURT AMENDMENT FEE INCENTIVE AGREEMENT FOR ENTERTAINMENT, POSSIBLE FINANCIAL INCENTIVES FOR AFFORDABLE HOUSING DEVELOPMENTS AND THE FOLLOWING ECONOMIC DEVELOPMENT PROJECTS.
PROJECTS FAYE PROJECT STRAT THREE PROJECT SPROUTS PROJECT MAESTRO, THE SPINE OR CONSTRUCTION PROJECT, MEGASITE PROJECT PROJECT TITAN, THE PLANNING AND DEVELOPMENT OF THE COTTONWOOD PROPERTIES AND ANY RELATED INCENTIVES, UH, CONSIDERATION OF THE ACQUISITION OF REAL PROPERTY BY THE TYPE B CORPORATION AND THE EVALUATION OF AVAILABLE CORPORATE FUNDS FOR INCENTIVES.
ALRIGHT, I MUTED 'EM 'CAUSE EVERYONE WAS CHITCHATTING.
ALRIGHT, THE, UH, TIME IS 9 27.
UM, WE ARE ACTUALLY PAUSING, UH, EXECUTIVE SESSION SO WE COULD, UH, VOTE ON ALLOWING THE TWO COUNCIL MEMBERS, UH, TO ENTER EXECUTIVE SESSION.
FOR THE RECORD, I'VE RECEIVED REQUESTS FROM MAYOR MIKE SNYDER AND COUNCIL MEMBER JIM MORRIS TO ATTEND EXECUTIVE SESSION FOR ALL ITEMS. MAKE A MOTION TO ALLOW THEM TO ENTER.
ALRIGHT, WE HAVE A MOTION BY CHAIR CARLSON.
SECONDED BY BOARD MEMBER PORTERFIELD TO ALLOW THEM TO ENTER.
AND NOW WE ARE ENTERING EXECUTIVE SESSION TO LEANDER FIRE AT THIS TIME.
ALRIGHT, THE TIME IS 1115 AND WE HAVE RETURNED FROM EXECUTIVE SESSION.
UH, SO WE'LL RETURN TO ITEM NINE ONE.
CONSIDERATION, POSSIBLE ACTION OR RELATED TO EXECUTIVE SESSION AGENDA ITEMS LISTED ABOVE.
I BELIEVE THERE WAS ONE MOTION AS A RESULT THAT NEEDED TO COME FROM THAT.
REGARDING THE LAND ACQUISITION.
DO YOU WANT LANGUAGE? ANYONE? ANYONE? LEGAL? DO YOU WANNA PROPOSE? YES.
IT JUST SAYS VOTE TO APPROVE ON THE LAND.
VOTE TO APPROVE TO DIRECT STAFF REGARDING A POSSIBLE LAND ACQUISITION WITH THE, UM, INDEPENDENT SCHOOL DISTRICT.
WE HAVE A MOTION BY FOURTH BY BOARD MEMBER PORTERFIELD.
SECONDED BY BOARD MEMBER MCLAUGHLIN.
UH, OPEN IT UP FOR DISCUSSION.
UH, DO WE HAVE ANY, UH, FUTURE AGENDA ITEMS? HEARING NONE NEXT WITH NO OTHER ITEMS ON THE AGENDA, WE ARE HEREBY ADJOURNED AT 1117.