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YEAH.[River Creek Development Corporation on July 16, 2026.]
AT 5:43 PM ON JULY 16TH, 2026, CALL THIS SPECIAL MEETING OF THE RIVER CREEK DEVELOPMENT CORPORATION TO ORDER.WE MS. MORRIS, HERE, I BOARD MEMBER WARNER HERE.
DOESN'T LOOK LIKE ANYONE HAS SIGNED UP FOR PUBLIC COMMENT.
TO ITEM FOUR, ONE, CONSIDERATION AND POSSIBLE ACTION ON APPROVAL OF THE FOLLOWING MINUTES.
JULY 2ND, 2020 JOINT BURGER CREEK, COTTONWOOD DEVELOPMENT CORPORATIONS.
A MOTION TO APPROVE AS AS PRESENTED.
A MOTION BY BOARD MEMBER MORRIS.
SECOND BY BOARD MEMBER WARNER.
DISCUSSION ABOUT CIVIL ACTION RELATING TO THE RIVER CREEK DEVELOPMENT CORPORATION.
PROPOSED BUDGET FOR FISCAL YEAR 26, 27.
CHRISTINA BISHOP, ASSISTANT FINANCE DIRECTOR FOR THE CITY.
UH, YOUR PROPOSED BUDGET FOR THE FISCAL YEAR 2027 RIVER CREEK DEVELOPMENT CORPORATION WAS EMAILED OUT EARLIER THIS WEEK.
UH, YOUR RIVER CREEK DEVELOPMENT CORPORATION ESSENTIALLY CONSISTS OF FOUR CITY FUNDS.
THREE OF THEM ARE PITS, THE CROSS CREEK PIT, THE MUSTANG CREEK PIT, THE CO-OP PIT, AND THEN JUST A GENERAL RIVER CREEK FUND THAT ACCOUNTS FOR THE ATTORNEY AND THE LITIGATION EXPENSES.
UH, YOUR MAIN REVENUE SOURCES AMONGST THESE FUNDS ARE PIT ASSESSMENTS FROM THE THREE PIS, INCLUDING THOSE PIT ASSESSMENTS.
FOR THE CO-OP IS A CONTRIBUTION FROM THE TURS FOR A BUYDOWN, UH, AND INTEREST INCOME.
THE PROJECTED, UM, INCOME FOR REVENUES FOR FISCAL YEAR 2026 ARE ABOUT 2.6 MILLION, UH, AND SAME WITH THE FISCAL YEAR 2027 PROPOSED.
I WANNA NOTE THAT THE PIT ASSESSMENTS FOR MUSTANG CREEK AND CO-OP ARE ESTIMATES BECAUSE THE SAPS HAVE NOT YET BEEN COMPLETED FOR THEM, BUT THE CROSS CREEK PIT ASSESSMENTS HAVE BEEN COMPLETED AND ADOPTED.
UH, ON THE EXPENSE SIDE, YOUR PRIMARY EXPENDITURES ARE DEBT SERVICE PAYMENTS.
UH, FOR THE THREE PIS, THEY'RE EXPECTED TO END IN 20 20, 20 53 FOR THE CO-OP 2054 FOR MUSTANG CREEK AND 2055 FOR CROSS CREEK.
YOU ALSO HAVE THE ASSOCIATED INTEREST PAYMENTS, ATTORNEY SERVICES, PIT ADMINISTRATIVE EXPENSES, AND TRUSTEE FEES.
THE PROJECTED BE, UM, CHANGE IN FUND BALANCE FOR, OR, I'M SORRY, EXPENSES FOR FISCAL YEAR 26 ARE 2,521,000.
AND FOR THE 2027 PROPOSED IT'S 2,511,000.
UH, SO YOUR NET CHANGE IN FUND BALANCE FOR THIS YEAR IS EXPECTED TO BE $115,693.
AND NEXT YEAR'S, UH, UH, CHANGE IN FUND BALANCE IS EXPECTED TO BE 115,000.
UM, YOUR ENDING FUND BALANCE AT THE END OF NEXT YEAR IS PROJECTED TO BE JUST OVER $4 MILLION.
I MAKE A MOTION TO ACCEPT THE, UH, OPPOSED BUDGET FOR FISCAL YEAR 26, 27 AS AS PRESENTED COURT.
IS THERE ANY DISCUSSION? OKAY, LET'S CALL THE VOTE.
SO 45 40 7:00 PM I WILL ADJOURN THIS.