[CALL TO ORDER]
[00:00:15]
27TH, 2026. WE WILL CALL THIS MEETING TO ORDER AT 603. AND THIS IS THE DUNCANVILLE COMMUNITY AND ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING, AND WE HAVE CALLED THE MEETING TO ORDER AT 603. AND THE FIRST ITEM ON THE AGENDA AFTER CALL TO ORDER IS THE INVOCATION. AND SO IF YOU WILL STAND AND JOIN WITH ME IN PRAYER. GOD OUR HEAVENLY FATHER, WE ARE THANKFUL FOR THIS OPPORTUNITY TO SERVE YOU BY SERVING THIS WONDERFUL COMMUNITY THAT WE ALL CALL HOME. WE'RE THANKFUL, DEAR GOD, FOR THE ENABLEMENTS THAT YOU HAVE GIVEN US TO CARRY ON THE WORK THAT YOU HAVE CALLED US TO DO, AND WE CALL UPON YOU TO GIVE EVERY GOOD AND PERFECT GIFT TO LEAD, GUIDE, AND DIRECT US IN OUR DELIBERATIONS. MAY YOUR PURPOSE FOR US AND FOR THIS COMMUNITY BE ACCOMPLISHED THROUGH THE WORK THAT WE DO THROUGH JESUS NAME. WILL YOU JOIN ME IN THE PLEDGE OF ALLEGIANCE? I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS ONE NATION UNDER GOD AND. PLEDGE ALLEGIANCE TO THEE. TEXAS, ONE STATE UNDER GOD, ONE AND INDIVISIBLE. THANK YOU. YOU MAY BE SEATED. OKAY. THE NEXT ITEM ON THE AGENDA IS CITIZENS PUBLIC FORUM. MADAM SECRETARY, DO WE HAVE ANYONE THAT WISHES TO PARTICIPATE IN THIS PARTICULAR PORTION OF THE AGENDA? DO WE HAVE ANYONE? WE HAVE NOT RECEIVED ANY, SIR. ALL
[2. APPROVAL OF DCEDC MEETING MINUTES]
RIGHT. VERY GOOD. SO WE WILL MOVE ON TO THE NEXT ITEM ON THE AGENDA. AND IT IS APPROVAL OF DCEDC MEETING MINUTES A CONSIDER APPROVAL OF THE MINUTES FROM THE MARCH 9TH, 2026 SPECIAL CALL MEETING. I TRUST THAT WE'VE HAD AN OPPORTUNITY TO REVIEW THOSE MINUTES. AND AT THIS MOMENT, IF THERE ARE NO ADDITIONS OR CHANGES TO THE AGENDA, IF THERE ARE NONE, THE CHAIR WILL ENTERTAIN A MOTION TO CONSIDER APPROVAL OF THE MINUTES FROM THE MARCH 9TH, 2026, SPECIAL CALL MEETING. I MOVE FOR THE APPROVAL OF THE MARCH 9TH SPECIAL CALLED MEETING MINUTES. IS THERE A SECOND? SECOND. THERE HAS BEEN PROPERLY MOVED AND SECONDED AND NOW IT IS TIME TO VOTE. SO ALL THOSE IN FAVOR, PLEASE VOTE YES. OKAY. IT PASSES UNANIMOUSLY. THANK YOU. OKAY. BE CONSIDER APPROVAL OF THE MINUTES FROM THE MARCH 23RD, 2026 REGULAR MEETING. AND AGAIN, HOPEFULLY YOU'VE HAD AN OPPORTUNITY TO REVIEW THAT. AND UNLESS THERE ARE ANY CHANGES OR ANY OTHER ALTERATIONS THAT NEED TO BE MADE AS A RESULT OF YOUR REVIEW, THE CHAIR WILL AT THIS TIME ENTERTAIN A MOTION TO CONSIDER APPROVAL OF THE MINUTES FROM THE MARCH 23RD, 2026 REGULAR MEETING CHAIR. HARVEY. SIR, I THINK THIS IS ONE MINOR CORRECTION OR CLARIFICATION ON PAGE FIVE WHERE IT STATES TO RECONVENE TO OPEN SESSION. I THINK THAT'S SUPPOSED TO SAY YOUR NAME AND YOUR TITLE THERE UNDER THE NAME AND TIME. IN THE TIME. I'M NOT SURE WHAT TIME WE RECONVENE. WEPT A LITTLE BIT SINCE THEN.[00:05:04]
DO YOU SEE THAT ON PAGE FIVE? PAGE FIVE? I WILL MAKE THAT CORRECTION FOR YOU SO WE CAN ACCEPT IT AS CORRECTED. I MOVE FOR ACCEPTANCE OF THE MARCH 23RD, 2026 MEETING MINUTES WITH THE CORRECTIONS. AS NOTED, IS THERE A SECOND? SECOND? IT IS PROPERLY MOVED AND SECONDED.AND NOW IT'S TIME FOR A VOTE. ALL IN FAVOR, PLEASE VOTE. OKAY, IT'S UNANIMOUS. 5 TO 0. THANK
[3. BOARD MEMBER REPORTS]
YOU. BOARD. OKAY, THAT BRINGS US TO BOARD MEMBER REPORTS, WHICH IS ITEM NUMBER THREE. AND I DO WANT TO SHARE WITH THE BOARD THAT GREG ZYLKA, WHO WAS A LONG TIME SERVING MEMBER OF THIS PARTICULAR BOARD, IS DEALING WITH SOME SERIOUS HEALTH ISSUES. AND AS A RESULT, HE SUBMITTED HIS RESIGNATION. I'VE SPOKEN WITH HIM SEVERAL TIMES, AND HE. HAS EXPERIENCED HOSPITALIZATION. HE IS AT HOME. HE IS ON THE ROAD TO RECOVERY. AND HE. MISSES HIS SERVICE AND YOU ALL AND WORKING WITH YOU. SO THAT CONCLUDES MY REPORT. ANY OTHER REPORTS THAT ANY OTHER BOARD MEMBER WOULD LIKE TO SHARE AT THIS TIME? CHAIR HARVEY, I THINK THERE'S TWO ITEMS WORTH OF NOTE. THE FIRST BEING THE EVENT THAT WE ATTENDED AT CHARLTON METHODIST.I THINK IT WAS THE WEEK BEFORE LAST. CHAIR HARVEY AND I, ALONG WITH SEVERAL OTHER REPRESENTATIVES FROM THE CITY OF DUNCANVILLE, WERE ABLE TO. WERE INVITED TO CHARLTON METHODIST HOSPITAL FOR A TOUR OF THE RECENTLY COMPLETED EMERGENCY ROOM ADDITION AT THE HOSPITAL AND ALSO WE HAD A PRESENTATION FROM THEIR PRESIDENT AND FROM THEIR CHIEF SURGEONS THERE ABOUT THE THINGS THAT THEY'RE DOING THERE AT CHARLTON METHODIST, AND THEY'RE LOOKING FOR SOME COLLABORATION WITH NOT ONLY THE CITY OF DUNCANVILLE, BUT ALSO THE SURROUNDING CITIES IN THE BEST SOUTHWEST. JUST TO CONTINUE TO RECRAFT THE NARRATIVE FOR WHAT CHARLTON METHODIST IS FOR THIS PARTICULAR AREA. ANYTHING THAT. OKAY. DID YOU HAVE THE SECOND ONE? THE SECOND ONE IS ALSO THAT I ALSO PARTICIPATING IN A GROUP WITH THE GREATER DALLAS PLANNING COUNCIL IS COLLABORATING WITH MANY OF THE CITIES FROM THE SOUTHWEST AND SOUTHERN DALLAS COUNTY ON THAT COMMITTEE. ALSO, THE MAYOR SITS ON. OUR INTERIM CITY MANAGER ALSO PARTICIPATES IN THAT PARTICULAR GROUP, ALONG WITH. MR. GOVAN IS THE CO-CHAIR OF GREATER DALLAS PLANNING COMMITTEE SOUTH, WHICH IS FOCUSED SPECIFICALLY UPON THE AREA IN THIS PARTICULAR AREA, AND WE ARE PROGRESSING WITH THAT GROUP. WE'RE RECRAFTING OR CRAFTING A MARKETING MESSAGE FOR WHAT SOUTHERN DALLAS COUNTY IS LOOKING AT SOME GRANT OPPORTUNITIES FOR THE OVERALL AREA. SO THERE ARE SOME PROGRESS MADE BEING MADE WITH THAT PARTICULAR GROUP. I AM REPRESENTING MY INDUSTRY, BUT I'M ALSO SITTING ON THE SOUTH AS A REPRESENTATIVE FOR THE CITY OF DUNCANVILLE. ALL RIGHT. SO THANK YOU FOR THOSE TWO EXCELLENT REPORTS. ARE THERE ANY OTHER BOARD REPORTS AT THIS TIME? OKAY. WELL, THANK YOU ALL
[4. DIRECTOR'S REPORT]
VERY MUCH. WE ARE UP TO NUMBER FOUR ON THE AGENDA, AND THAT IS DIRECTOR'S REPORT. AND MR. GOLF, THE FLOOR IS YOURS. OKAY. AS WELL AS ECONOMIC DEVELOPMENT. SO. THE COMMUNITY UPDATE.[*A portion of this video is without audio*]
[00:10:19]
THE FIRE TRUCK PULLED UP.THANK YOU, MR. GOLF. OKAY. ITEM NUMBER FIVE, CONSENT AGENDA. ANY THINGS THAT NEED TO. NOTHING THAT NO CONSENT ITEMS. OKAY, I THOUGHT SO. I JUST WANTED TO MAKE SURE.
OKAY. PUBLIC HEARING DOESN'T LOOK LIKE WE HAVE ANY PUBLIC HEARINGS EITHER. OKAY. VERY GOOD. OKAY. SO ACTION ITEMS. IT SEEMS LIKE THERE'S NOTHING THERE AS WELL, BUT THAT'S OKAY.
IT MAKES US EFFICIENT. WE'RE SAILING RIGHT ALONG. OKAY, NEXT ITEM ON THE AGENDA. ITEM NUMBER
[8.A. BloomFest Pre Event Briefing]
EIGHT, BRIEFING AND PRESENTATIONS. NO ACTION OR DELIBERATION WILL TAKE PLACE ON THESE ITEMS. AND EIGHT A IS BLOOM FEST PRE-EVENT BRIEFING. AND THAT IS DEVIN HANLEY.THANKS FOR COMING. DEVIN. OKAY, NOW IT'S ON. HI DC, DC HI. ALL RIGHT. SO BLOOM FAST. THIS IS OUR SECOND YEAR FOR BLOOM PLUS MUSIC AND ARTS FESTIVAL. SO A LITTLE OVERVIEW. WE HAVE BATTLE OF THE BANDS WHICH IS A COMPETITION WE STARTED IN JANUARY. WE HAD OVER 30 BANDS APPLY FOR BATTLE OF THE BANDS. WE NARROWED IT DOWN TO TEN. AND THEN FROM THAT TEN, WE HAD THE COMMUNITY VOTE TO NARROW IT DOWN TO THREE. SO OUR TOP THREE WILL BE PERFORMING LIVE AT BLOOM FEST, WHERE THERE WILL BE ALSO BE LIVE VOTING. WE WILL HAVE TWO STAGES THIS YEAR.
WE'RE BORROWING A STAGE FROM CEDAR HILL, SO THEY'RE COMING TO SET IT UP FOR US. AND THEN WE HAVE, OF COURSE, OUR PAVILION STAGE. WE WILL HAVE DUNCANVILLE LIVE, WHICH IS WHAT FRANCISCO AND MARKETING STARTED, WHICH IS WHERE WE'RE GOING LIVE MULTIPLE TIMES THROUGHOUT THE EVENT, JUST KIND OF SHOWING PEOPLE WHAT'S GOING ON AT THE EVENT, ENTICING MORE PEOPLE TO COME OUT. IT WAS A HUGE SUCCESS FOR HOLIDAY LIGHTS IN THE PARK, SO WE'RE REALLY EXCITED TO KEEP IT GOING. WE HAVE ART FROM VILLAGE TECH COMING. THEY HAVE THEIR BIG ART SHOW ON THIS SATURDAY, AND THEY'RE BRINGING THAT ART TO ARMSTRONG PARK FOR BLOOM FEST, SO WE'RE REALLY EXCITED ABOUT THAT. WE HAVE OUR PIECES OF US COMMUNITY MOSAIC PROJECT. WE HAVE AN ARTIST THAT DID RECEIVE A GRANT FROM THE ARTS COMMISSION THAT IS DOING AN ART PROJECT THAT WE'RE GOING TO PUT UP IN THE PARK TO STAY UP IN THE PARK. SO WE'RE ASKING THE COMMUNITY TO BE INVOLVED IN CREATING THOSE MOSAIC TILES. SO, YOU KNOW, EVERYONE CAN BE A PART OF THE OF THE ART PIECE.
WE HAVE OUR NEW EVENT MERCH AREA, SO WE'LL BE SELLING MERCH THAT'S RELATED TO EACH EVENT.
SO BLOOM FEST IS OBVIOUSLY THE KICK OFF. SO WE'LL HAVE A LARGE MERCH AREA SET UP FOR PEOPLE TO BE ABLE TO BUY THINGS. THEN WE HAVE OUR FAIR, WHICH WILL IS SPONSORED BY THE DUNCANVILLE ARTS FOUNDATION AND PARTNERSHIP WITH THE ARTS COMMISSION. THERE'S GOING TO BE A LIVE ART GALLERY, THERE WILL BE AN ART SHOW THROUGHOUT THE WHOLE EVENT. THOSE ARE RECEPTION ON THE EIGHTH, AND THAT'S WHEN THEY'LL CHOOSE THE BEST OVERALL PIECE. AND THEN WE'RE ASKING THE COMMUNITY TO BE A PART OF THE PEOPLE'S CHOICE AWARD FOR L'AFFAIRE. WE ARE REQUESTING REGISTRATION, BUT NO WRISTBANDS AND REGISTRATION IS FREE. SO FOR OUR VIP INFO, DC, DC CITY COUNCIL AND OTHER VIP WILL RECEIVE PARKING PASSES AS WELL AS WRISTBANDS BECAUSE WE WILL
[00:15:02]
HAVE A VIP SEATING AREA NEAR THE CHAMPION STAGE, WHICH IS OUR BIG MAJOR STAGE AND THAT IS SPONSORED BY METHODIST CHARLTON, SO WE'RE VERY GRATEFUL FOR THEM. WE WILL HAVE DEDICATED CITY COUNCIL AND VIP PARKING, WHICH IS THE EMPLOYEE PARKING HERE AT CITY HALL. THIS IS OUR MAP FOR THE EVENTS. SO WE HAVE EVERYTHING FROM THE MARKET TO THE RESTROOMS TO WHERE THE MERCH SHOP WILL BE. FOR THE BLOOM FEST MERCH SHOP, WE HAVE OUR MEDIC. THE SPLASH PAD WILL BE OPEN, THE ART SHOW WILL BE INSIDE OF THE SENIOR CENTER. THEN THE ART FROM VILLAGE TECH WILL BE THERE ON THE RIGHT SIDE OF THE PAVILION AND SPLASH PAD. AND THEN WE HAVE A GAME TRUCK THAT WILL BE SET UP IN THAT PARKING LOT NEXT TO THE BASKETBALL COURT. BATTLE BAND TOP THREE IS CRO TECH'S MAROON MONDAY AND DEJA VU, SO EACH ONE OF THEM WILL PERFORM FOR EVERYBODY TO VOTE ON. SO OUR PERFORMERS ARE GOING TO BE NICOLE MARIE WEIWEI, KYOTO BALLET FOLKLORICO WILLIAM ADDISON BECAME IN THE ZYDECO YOUNG BUCKS. AND LET ME CONSULT MY NOTES VERY QUICKLY ON HOW TO SAY THAT. ME, ME. TOTI, LESLIE YAO LEE, WHICH IS AN INDIGENOUS AZTEC DANCE GROUP. THEY'RE VERY GOOD. I'M VERY EXCITED. LOCAL BUSINESS ENGAGEMENT. SO WE HAD OUR VENDOR MARKET APPLICATIONS ARE OPEN THROUGH THE 27TH. THE FOOD TRUCK VENDOR APPLICATIONS CLOSED ON THE 20TH. WE HAVE A TOTAL OF 15 LOCAL BUSINESSES THAT ARE REGISTERED FOR THE VENDOR MARKET. AND THEN 18 BEST SOUTHWEST VENDORS. LOCAL PRESS AND PROMOTION. WE HAVE OUR ADVERTISEMENT ON OUR KIOSKS AND TV'S HERE IN CITY HALL. POSTERS ARE BEING GIVEN OUT TO THE LOCAL BUSINESSES. WE HAVE REACHED OUT TO LOCAL NEWS STATION AND MAGAZINES SUCH AS SOUTHWEST NOW, THE RAMBLER, THINGS LIKE THAT. WE DO HAVE SOCIAL MEDIA WHERE WE HAVE BEEN POSTING AND THEN OF COURSE OUR NEW EVENT SHOW, DUNCANVILLE LIVE EVENT ACTIVITIES THAT WILL BE. THERE ARE LOTS OF PHOTO OPS, THE BATTLE OF THE BANDS VIDEO GAME TRUCK, A NERF WAR AREA MARKETPLACE, VENDORS, MOBILE FOOD VENDORS. THE TWO STAGES THE ART BY VILLAGE TECH, PIECES OF US PROJECT, ARTS COMMISSION, AREA L AFFAIR GALLERY AND MORE. SO, LAST YEAR, FOR ITS FIRST YEAR, OUR PARK ATTENDANCE PEAK WAS AT 2100. THE OVERALL COUNT THAT WE HAD WAS AROUND 3700. IN THIS. WE DID HAD TO MOVE IT LAST YEAR BECAUSE OF WEATHER. SO THIS WASN'T THE ORIGINAL SCHEDULED DATE THAT WE HAD MARKETED A LOT FOR. THIS WAS THE SECOND DATE. SO FOR EVERY EVENT, WHAT WE'VE STARTED DOING IS DOING AN EVENT SURVEY THAT IS OUT ON INTO THE PUBLIC WHERE PEOPLE CAN WALK BY, SCAN THE QR CODE AND VOTE WHILE THEY'RE AT THE EVENT. AND THEN WE SHARE THAT ON SOCIAL MEDIA AFTER THE EVENT FOR THREE WEEKS, JUST TO GET PEOPLE'S FEEDBACK. WE GOT OVER 60 COMMENTS FROM HOLIDAY LIGHTS IN THE PARK. SO I KIND OF LIKE IT BECAUSE I GET TO SEE KIND OF IMMEDIATE FEEDBACK. SO THAT WILL GO LIVE AND OPEN ON MAY 9TH, THE DATE OF THE EVENT.SO RIGHT NOW, IF YOU SCANNED IT, IT'S NOT GOING TO TAKE YOU ANYWHERE. BUT ON MAY 9TH IT WILL. ANY QUESTIONS? I HAVE ONE YES, SIR. SO THE PORTION OF THE EVENT THAT INVOLVES THE LIVE SECTION IS THAT UTILIZING FACEBOOK TECHNOLOGY. YES. IT'S GOING LIVE ON FACEBOOK AND YOUTUBE. ALL RIGHT. REAL GOOD. AND FOLLOW UP QUESTION. I'M WONDERING IF THIS WAS AN URBAN LEGEND, OR WAS IT TRUE THAT ONE OF THE BANDS BEING CONSIDERED WERE LIKE ALL BROTHERS? THEY ARE. IT'S ACTUALLY MAROON MONDAY. THEY I THOUGHT THEY WERE TWINS AND THEN I THOUGHT THEY WERE TRIPLETS, BUT ACTUALLY THEY'RE QUADRUPLETS. AND THE BAND IS THREE OUT OF THE FOUR BROTHERS. SO I DID THINK THAT WAS FUNNY. BUT YES, MAROON MONDAY IS THEIR QUADRUPLETS. BUT IT'S TRIPLETS THAT PERFORM WELL. MAYBE. MAYBE THE ONE CAN COME OUT AND JUST SUPPORT HIS BROTHERS. I'M SURE HE'LL COME OUT OKAY. ALL RIGHT. I DID HAVE TWO QUESTIONS. YES, SIR. DEVIN, JUST REAL BRIEFLY FOR THE BATTLE OF THE BANDS, I OF COURSE, THE EXPOSURE IS GREAT FOR THEM. DO THEY ALSO GET SOME FORM OF STIPEND AS WELL? YES, THEY ARE PAID AND THE PAY THAT THEY'RE GIVEN IS BASED ON AFTER THE VOTES, WHETHER THEY'RE FIRST, SECOND OR THIRD. OKAY, GREAT. AND THEN MY LAST QUESTION IS DO WE GEOFENCE OUR EVENTS? I KNOW THAT WAS SOMETHING THAT WE LOOKED AT BEFORE AS FAR AS YEAH. SO PLACER ON PLACER, I, I HAVE JUST OUR EVENT MAP PARKED OUT. SO WHEN I CLICK ON, IT'S FOR ME, IT'S JUST CALLED ARMSTRONG PARK.
BUT WHEN I CLICK ON THAT, IT IS LITERALLY JUST THE EVENT SPACE AND IT DOESN'T EXCEED OUT AT ALL. IT IS JUST THE PARK AND INTO THE SENIOR CENTER PARKING LOT. SINCE WE DO HAVE OUR FOOD VENDORS THERE, I WANTED TO INCLUDE THAT. SO IT'S THE FOOD VENDOR PARKING LOT THROUGHOUT THE WHOLE PARK OF ARMSTRONG, BUT DOES NOT GO INTO THE CITY HALL PARKING LOT, NOR ACROSS
[00:20:03]
THE STREET TO THE REC CENTER LIBRARY. AND SO THAT INFORMATION THAT YOU GATHER, YOU WILL BE ABLE TO SEE AS FAR AS IF WE'RE GATHERING PEOPLE FROM OUTSIDE THE CITY OF DUNCANVILLE. YES, WE CAN, YOU KNOW, IF THEY'RE GOING TO OTHER LOCATIONS WITHIN DUNCANVILLE WHILE THEY'RE HERE. AS FAR AS OUR RESTAURANTS OR YES, YES PLACE, RIGHT. WE CAN SEE WHERE THEY CAME TO RIGHT BEFORE THEY CAME TO THE PARK AND WHERE THEY GO RIGHT AFTER THE EVENT. THANK YOU. OKAY. ANY OTHER QUESTIONS? FROM THE BOARD? OKAY. WELL, THANK YOU, MISS HANLEY. YOU HAVE, I THINK, SIMPLY THOUGHT OF EVERYTHING EXCEPT I GOT ONE LAST QUESTION. YES, SIR. AND MY QUESTION IS, SUPPOSE FOR THE SECOND YEAR IN A ROW. I WON'T SAY THE WORD. PLEASE DON'T. BUT LET'S SAY WE DON'T HAVE ANY COOPERATION FROM THE HEAVENS ABOVE. I'LL JUST PUT IT LIKE THAT. HAS THERE BEEN DISCUSSION? YES, SOME DISCUSSION HAS. YES. OKAY. REAL GOOD. AND AND THEN IF SO, YOU LET US KNOW. ABSOLUTELY. THANK YOU SO MUCH. OF COURSE. ALL RIGHT. OKAY.[8.B. Summary of Design Incentive Grant Applications Received (FY-26 Application Period)]
NEXT ITEM ON THE AGENDA BE SUMMARY OF DESIGN INCENTIVE GRANT APPLICATIONS RECEIVED.FISCAL YEAR 26 APPLICATION PERIOD. STAFF. HELLO AND GOOD EVENING. PRESIDENT HARVEY AND DC-DC BOARD MEMBERS. MARCELLA PEREZ, ECONOMIC DEVELOPMENT COORDINATOR. HAPPY TO COME BEFORE YOU TO PRESENT ON OUR THE SUMMARY OF THE FISCAL 26 FISCAL YEAR 26 DESIGN INCENTIVE GRANT APPLICATION PERIOD. SO JUST AN OVERVIEW. AS YOU KNOW ALREADY, THIS. THE DESIGN INCENTIVE GRANT PROGRAM SUPPORTS PROMOTION OF RETENTION OF SUSTAINABLE BUSINESSES THROUGHOUT DUNCANVILLE. IT ENCOURAGES PRIVATE INVESTMENT AND CORRIDOR ENHANCEMENT TO BOTH EXPAND THE LOCAL ECONOMIC BASE AND ALSO IMPROVE THE VISUAL CHARACTER OF THE COMMUNITY AND REDUCE ANY BLIGHT. THE 2026 APPLICATION WINDOW BEGAN ON DECEMBER THE 1ST, 2025 AND RAN THROUGH APRIL 1ST, 2026. WITH THIS BEING THE INTRODUCTORY YEAR, WE ACTUALLY EXTENDED THE WINDOW. IT WAS ORIGINALLY GOING TO BE MARCH 1ST, BUT WE KEPT IT OPEN UNTIL APRIL 1ST TO ALLOW FOR MORE APPLICANTS TO PARTICIPATE. THEN, PER THE GUIDELINES THAT WE PROVIDED TO THE APPLICANTS, WE ARE AIMING FOR PRESENTATIONS TO THE BOARD IN THE SPRING AND AWARDS NO LATER THAN SUMMER 2026. THE GRANT STRUCTURE, AGAIN BASED ON THE POLICY CHANGES THAT WERE MADE LAST YEAR. LAST FISCAL YEAR, IT IS NOW A 50/50 MATCHING PROGRAM, WHICH MEANS THAT THE APPLICANT FUNDS 50% OF THE PROJECT COST AND THEN EACH CATEGORY, DEPENDING ON WHAT TYPE OF APPLICATION THEY SUBMITTED, HAS A MAXIMUM AMOUNT. SO FOR PAINT IS 7500, SIGNAGE IS 5000. LANDSCAPING 10,000, FACADE 10,000, PAVEMENT 25 AND INFRASTRUCTURE 20,000. AND THEN OF COURSE, THE CITY COUNCIL. AFTER THE D, C E, DC REVIEWS ALL APPLICATIONS AND MAKES AWARD DETERMINATIONS. ALL OF THE AWARDS GO TO CITY COUNCIL FOR FINAL DISBURSEMENT APPROVAL. SOME KEY ELIGIBILITY REQUIREMENTS. AGAIN, ALL OF THE PROJECTS MUST BE. AND THE PROPERTIES FOR WHICH THE PROJECTS ARE GOING TO TAKE PLACE MUST BE SUBJECT TO PROPERTY TAXES. ALL OF THE APPLICANTS MUST HAVE SUBMITTED A BUSINESS PLAN, A MARKETING PLAN, AS WELL AS A SALES AND USE TAX CERTIFICATE. THEY ALSO ARE REQUIRED TO SUBMIT THREE BIDS PER CATEGORY AND MEET TAX LICENSE AND CODE COMPLIANCE WITHIN THE CITY. ALSO, THE PROJECT MUST BE COMPLETED WITHIN SIX MONTHS OF APPROVAL, AND THESE INCENTIVE GRANTS ARE REIMBURSEMENT ONLY AFTER PROOF OF PAYMENT. SO IN SUMMARY, WE RECEIVED A TOTAL OF 16 APPLICATIONS. NOW THESE WERE FOR MULTIPLE CATEGORIES. SO YOU SEE THERE'S EIGHT UNIQUE BUSINESSES THAT SUBMITTED, MEANING THAT A LOT OF THOSE ARE A GOOD PORTION OF THOSE BUSINESSES SUBMITTED MORE THAN ONE TYPE OF APPLICATION. FACADE PAINT WHAT HAVE YOU. THE TOTAL REQUESTED AMOUNT WAS CLOSE TO $800,000, AND THE AVERAGE
[00:25:04]
REQUEST TOTALED 49,913 WITH $0.91. SO SOME KEY REVIEW CONSIDERATIONS JUST BASED ON WHAT WE HAVE RECEIVED AND SEEN, WE BELIEVE THAT THERE MIGHT BE SOME POSSIBLE OVERLAP IN PROJECT SCOPES. JUST AGAIN, BECAUSE THIS WAS THE FIRST PERIOD, I THINK THERE WERE SOME APPLICANTS THAT MAY BE APPLIED FOR PROJECTS THAT COULD HAVE BEEN ELIGIBLE UNDER ONE OR MULTIPLE CATEGORIES. SO THAT IS SOMETHING THAT WE'RE REVIEWING AND, AND LOOKING AT. BID AND COST VERIFICATION IS GOING TO BE REQUIRED. JUST MAKING SURE THAT THE BIDS THAT WERE SUBMITTED ARE ACTUALLY THE MATCH, THE PROJECT SCOPE. AND THAT OF COURSE, THAT THEY ARE FOR THINGS THAT ARE WITH THAT MEET THE CODE REQUIREMENT, I.E. SIGNAGE. WE WANT TO MAKE SURE THAT ANY BIDS THAT WERE SUBMITTED IN APPLICATIONS AS WELL, THAT THEY MEET THE CITY'S CODE AND SIGNAGE REQUIREMENTS. AND THEN LASTLY, ELIGIBILITY AND DOCUMENTATION COMPLIANCE TO BE VERIFIED. SO NEXT STEPS FOR STAFF IS TO COMPLETE THE DETAILED ELIGIBILITY REVIEW.SOME OF THE APPLICATIONS WERE REVIEWED AS THEY CAME IN, BUT THERE WAS A LARGE PORTION OF THEM THAT CAME IN WITHIN THE LAST FEW WEEKS OF THE DEADLINE. SO WE'RE NOW GOING TO BE ABLE TO REVIEW THEM IN TOTAL. AGAIN, REVIEW THE PROJECT SCOPES. THIS WEEK I HAVE SCHEDULED VIRTUAL OR IN-PERSON MEETINGS WITH EACH ONE OF THE APPLICANTS TO GO OVER THEIR APPLICATION AND DISCUSS EXACTLY WHAT IT IS THAT THEY'RE LOOKING TO DO IN MORE DETAIL TO HOPEFULLY, AGAIN, JUST DETERMINE IF THE PROJECT, THE APPLICATION MEETS THE MINIMUM CRITERIA THAT WE'RE LOOKING FOR, AND THAT WILL INCLUDE FINANCIAL READINESS IF THEY'RE READY TO TAKE ON THE PROJECT AND FULLY UNDERSTAND THE SCOPE OF THE 5050 MATCH AND THE SIX MONTH PROJECT TIMELINE, ETC. AND THEN LASTLY, THE PLAN IS TO PREPARE THE AWARD RECOMMENDATIONS. AND TENTATIVELY, WE ARE LOOKING TO ADD SOME OF THOSE APPLICATIONS TO THE MAY DC SDC MEETING TO PRESENT TO YOU ALL. AGAIN, JUST LOOKING AT BUDGET. SO IF EVERYTHING WORKS OUT, WE'LL PRESENT. IT MIGHT BE THAT WE PRESENT ONE HALF IN MAY AND ANOTHER HALF IN JUNE. ANY QUESTIONS? NOT A QUESTION AT THIS POINT, BUT JUST FOR THE SAKE OF THOSE THAT ARE ASSEMBLED AND ARE LISTENING IN. THE RUN UP TO THIS PROGRAM INCLUDED THE FACT THAT STAFF HAD A COUPLE OF PUBLIC MEETINGS TO PUBLICIZE THIS. AND SO I JUST I JUST THOUGHT THAT THAT PEOPLE WOULD BE INTERESTED IN THE AMOUNT OF WORK THAT WENT INTO THIS PARTICULAR PROGRAM.
YES, SIR. THANK YOU FOR ACKNOWLEDGING THAT. YES. AS SOON BEFORE THE THE PROJECT ACTUALLY THE PROGRAM WINDOW LAUNCHED, THERE WERE SEVERAL INFORMATION SESSIONS HELD HERE IN THE COUNCIL CHAMBERS FOR THE PUBLIC, AS WELL AS MARKETING THROUGHOUT THE MULTIPLE PLATFORMS AND MEDIA CHANNELS. OKAY. YES, MISS ABNEY. YES. I JUST WANTED TO COMMENT ON THE APPLICATION PROCESS WITH IT ALL BEING NEW. AND THANK YOU FOR YOUR HARD WORK ON IT. AND PARTICULARLY, I LIKE THE EDUCATION THAT WAS PROVIDED. I THINK THAT BUSINESSES SOMETIMES CAN BE AFRAID WHEN THEY. WITH THE THOUGHT OF APPROACHING THE CITY WITH THE REQUEST. SO JUST EVEN BEING AVAILABLE AND MAYBE THE NEXT ROUND, IT'LL EVEN BE MORE. BUT BEING AVAILABLE AND FOR BUSINESSES TO KNOW THAT, YOU KNOW, THEY MAY NOT HAVE GOTTEN IT THIS TIME OR HAVE BEEN PREPARED, BUT AT LEAST THEY HAVE, YOU KNOW, THE INFORMATION. SO I THINK THAT'S VERY A GOOD KICK START FOR US WITH THE REVAMPED PROGRAM. I WANTED TO ALSO ASK ABOUT, I KNOW WE'RE COMING INTO THE BUDGET SEASON. AND SO I WAS CURIOUS AS TO THE LAST SET OF ENCUMBERED FUNDS AND APPLICATIONS. IS THERE A WAY TO GET AN UPDATE ON WHETHER OR NOT WE SPEND ALL OF THAT OR, HEY, THAT MAYBE SOME OF THE APPLICATIONS DIDN'T MOVE FORWARD AS THOUGHT AND THAT COULD BE ADDITIONAL FUNDS. IS THERE A WAY TO GET AN UPDATE ON THAT PREVIOUS BLOCK OF FOR FISCAL 25 AND BEFORE? WELL, ANYTHING THAT'S KIND OF OUT THERE RUNNING THAT DIDN'T GET COMPLETED BECAUSE THAT MONEY, RIGHT, WOULD BE BACK INTO OUR
[00:30:01]
POOL. AND I KNOW THAT THERE IS SOME OPPORTUNITIES FOR THE DC EDC TO HAVE SOME PARTNERSHIPS WITH THE CITY. SO IF THERE ARE ADDITIONAL FUNDS AVAILABLE THAT MAYBE WE THOUGHT WERE GOING TO BE USED BUT DIDN'T GET USED, THAT CAN HELP US TO BE ABLE TO, YOU KNOW, WORK COLLABORATIVELY AND SUPPORT THE CITY IF THERE ARE INCENTIVE GRANTS THAT WERE AWARDED. BUT FOR WHATEVER REASON, IT DIDN'T MOVE FORWARD LIKE THEY THOUGHT AND THAT MONEY COULD BE USED. IS THERE A WAY TO GET AN UPDATE ON THOSE? UNDERSTOOD. SO THERE IS ACTUALLY A PORTION OF ONE OF THE SLIDES IN THE UPCOMING BUDGET DISCUSSIONS THAT WE'LL TALK ABOUT, THE OUTSTANDING INCENTIVES THAT WE HAVE THAT THE DC EDC HAS AWARDED. OKAY. THANK YOU. I JUST MISS PEREZ, I THINK JUST FOR CLARIFICATION IN THE REPORT, I THINK IT'S THIS IS WHAT IT'S SAYING, BUT I JUST WANT TO MAKE SURE IT'S CLEAR ON THE TOTAL FUNDING REQUEST OVERVIEW. THERE'S A NOTE ABOUT THE MAXIMUM POTENTIAL DC, DC EXPOSURE TO 50% MAX CAP OF $399,000. AND I SEE THIS SUB NOTES BELOW THAT OR THE NOTES BELOW THAT. I JUST WANT TO CLARIFY THAT IT'S ACTUALLY MUCH LOWER THAN THAT, BECAUSE EACH OF THOSE GRANTS HAS A AWARD CAP, RIGHT. AND SO THAT I WOULDN'T SAY, I HATE TO SAY EXPOSURE BECAUSE IT SOUNDS LIKE WE'RE TRYING TO HOLD THE MONEY WITHIN, BUT, BUT IT'S JUST THAT AMOUNT IS ACTUALLY LESS THAN THAT BECAUSE THE INDIVIDUAL AWARD CAPS FOR EACH REQUEST, FOR EXAMPLE, PAYMENT IS LIMITED TO $25,000. AND WE HAVE TWO APPLICANTS FOR PAYMENT AT 168,000. SO REALLY THE EXPOSURE WOULD BE $50,000 MAXIMUM.EXACTLY. YES, SIR. THANK YOU. OTHER QUESTIONS? THANK YOU SO MUCH. AND IT WAS THE INTENT, EVEN WHEN I SET UP OUR WEBSITE IN THAT SUB PAGE, TO PROVIDE AS MUCH INFORMATION TO THE APPLICANTS AS POSSIBLE. SO THANK YOU FOR ACKNOWLEDGING THAT AS WELL. A FULL GUIDELINE WITH EVERY POSSIBLE PIECE OF INFORMATION UNDER THE SUN, AND EVEN PROVIDED A SAMPLE OF THE QUESTIONS THAT THEY WERE GOING TO BE FILLING IN IN THE APPLICATION. SO THAT THAT'S THE INTENT GOING FORWARD IS, YES, WE ABSOLUTELY WANT TO BE AS MUCH OF AN ASSISTANCE AND NOT A DETERRENCE TO OUR BUSINESS COMMUNITY TO PROVIDE THOSE INCENTIVES. THANK YOU. OKAY.
[8.C. Current Fiscal Year Update and FY-2026-2027 DCEDC Budget Workshop]
THANK YOU SO MUCH. BRINGS US TO ITEM EIGHT C FISCAL YEAR UPDATE FISCAL YEAR 2026 2027 WORKSHOP.MR. GOLF. GOOD EVENING AGAIN, PRESIDENT HARVEY, DC, DC BOARD. MARLON. GOLF AND ECONOMIC DEVELOPMENT. SO HOW I SET UP THE DISCUSSION TONIGHT WE'LL SAY WORK SESSION. TALK ABOUT FISCAL YEAR BUDGET. IT'S THE FIRST WALK US THROUGH WHERE WE ARE WITH THIS CURRENT YEAR'S BUDGET. YOU KNOW, TAKE A TAKE A REAL CLOSE LOOK OF WHERE WE ARE YEAR TO DATE AT ESSENTIALLY THE, YOU KNOW, HALF A YEAR MILE MARKER. AND THEN, YOU KNOW, WE'LL CLOSE OUT THE DISCUSSION BY REALLY TALKING ABOUT GOALS, PRIORITIES, STRATEGIES THAT THAT THE BOARD MIGHT HAVE. AS WE LOOK TO THEN PRESENT THE PROPOSED BUDGET AT THE JUNE EXCUSE ME, AT THE MAY 18TH MEETING. OKAY. SO AS A SUPPLEMENT TO THE STAFF REPORTS, THE MONTHLY REPORTS THAT ARE INCLUDED IN THE AGENDA PACKET, RIGHT. THIS FIRST SLIDE IS A, YOU KNOW, A SNAPSHOT OF WHERE WE ARE, YOU KNOW, IN TERMS OF OUR REVENUES COLLECTED TO DATE AS WELL AS OUR EXPENDITURES TODAY. AND THIS IS ROLLED UP TO ALL OF THE FUNDS ON THE EXPENDITURE SIDE FOR THE REVENUE COLUMN. I'LL POINT YOUR ATTENTION TO. SO ON ONE END, IT REPRESENTS THE SALES TAXES THAT ARE COLLECTED THROUGH FEBRUARY BUT RECEIVED IN APRIL. RIGHT. SO THAT'S THE REPORTING PERIOD.
BUT THE REVENUE ALSO INCLUDES A RECENT TRANSACTION ASSOCIATED WITH THE SALE OF DC'S OWN PROPERTY. OKAY. AND SO THAT REVENUE IS ACTUALLY A LITTLE BIT HIGHER AND SKEWS THAN SKEWED THAN IT WOULD TYPICALLY BE. AND SO WHILE IT'S NOT SALES TAX REVENUE COLLECTED, IT IS GROSS REVENUE THAT'S INCLUDED THAT WILL BE REPRESENTED IN OUR FUND BALANCE. OKAY. AND SO HERE IN TERMS AS IT RELATES TO SALES TAX, AGAIN ONE OF THE EXHIBITS IN THE PACKET, YOU KNOW, IT TAKES A LOOK AT THE COMPARISONS WITH OUR PEERS IN THE BEST SOUTHWEST. AND IT LOOKS AT THE MONTH THAT WE'RE CURRENTLY IN WITH THAT SAME MONTH IN PERIOD FOR 2025. RIGHT. AND SO HERE WE SEE DUNCANVILLE. WE'RE KIND OF TRENDING ALONG, YOU KNOW, LIKE OUR YEAR TO DATE COLLECTIONS A
[00:35:02]
LITTLE BIT DOWN. BUT WHEN WE LOOK AT IT OVERALL, IN PARTICULAR IN DALLAS COUNTY, SALES TAXES HAVE, YOU KNOW, IF YOU KIND OF FAVORABLY. ALL RIGHT. AND HERE'S JUST A SUMMARY OF HOW THE DC DC BUDGET IS STRUCTURED. AND SO EACH OF THOSE ARE FUNDS. SO WE WOULD PRINT OUT OUR BUDGET. WE'D HAVE AN ADMINISTRATION FUND THAT HANDLES MOST OF THE OPERATIONS OF THE DEPARTMENT BEAUTIFICATION FUND. THAT'S HISTORICALLY WHERE WE'VE MADE FUNDING THROUGH PARKS AND RECREATION. RIGHT. AND THEY HANDLE THE BEAUTIFICATION EFFORTS, MOWING PLANTINGS, ETC. SPECIAL EVENTS. AGAIN, WE HEARD FROM MISS HANLEY TONIGHT.THAT'S WHERE WE FUND OUR SIGNATURE EVENTS FOR THE CITY. AND THEN INCENTIVES. RIGHT.
MARCELO APPEARED JUST A FEW MOMENTS AGO TALKING ABOUT THE DESIGN INCENTIVE GRANT PROGRAM.
BUT WE ALSO HAVE OUR DEVELOPMENT INCENTIVES THAT WE'LL REFER TO AS THAT'S INCLUDED IN THAT FUND. THE LAST FUND IS WHAT WE REFER TO IN THE BUDGET AS TRANSFERS TO THE GENERAL FUND. RIGHT. AND SO THOSE ARE GOVERNED BY THE SERVICES AGREEMENT THAT WE HAVE WITH THE CITY, RIGHT. FOR OUR INDIRECT COSTS, AS WELL AS LAST YEAR OR PREVIOUS YEARS, WE'VE MADE CAPITAL FUNDING CONTRIBUTIONS FOR FIELD HOUSE TO RETIRE, THE DEBT IN THE BUILDING AND PUBLIC SAFETY GRANT WOULD BE AN EXAMPLE OF WHERE IT REPRESENTED COSTS IN THAT PARTICULAR FUND. RIGHT. QUESTIONS? YEAH. I KNOW THAT THE CITY CALENDAR OR THEIR BUDGET IS BASED UPON IS IT SEPTEMBER TO SEPTEMBER, OCTOBER THROUGH SEPTEMBER 30TH? YEAH.
SO THE TRANSFERS, WHEN WE LOOK AT THIS, I KNOW WE'RE LOOKING AT THIS FROM 2025 TO 2026. HOW DOES THAT TRANSFER ALIGN WITH SINCE IT'S WE'RE TRACKING IT FROM A DIFFERENT SORT OF SCALE? HOW DOES THAT HOW DOES THAT MEASURE UP AS FAR AS TRACKING THAT TRANSFER? DOES THAT MAKE SENSE? WOULD YOU. SO YOU MEAN IN TERMS OF THE TIMINGS OF WHEN IT HAPPENS. I KNOW LIKE RIGHT NOW IT SHOWS US THAT 50% COMPLETE ON THAT TRANSFER. BUT IS THAT BASED UPON THEM BEING, YOU KNOW, US BEING MEASURED THIS OVER A CALENDAR YEAR VERSUS THE ACTUAL BUDGET CALENDAR? I THINK IT'S, IT'S REALLY AN INTERNAL FUNCTION THAT'S HANDLED THROUGH OUR FINANCE DEPARTMENT IS KIND OF WHEN THEY MAKE THOSE INTERFUND TRANSFERS, YOU KNOW, WE'RE DONE WITH IT AFTER WE, YOU KNOW, PROPOSE AND ADOPT A BUDGET. BUT THE MECHANICS OF HOW THE FUNDS AND THE TIMING OF WHICH IS DONE, I WOULDN'T I WOULDN'T SPEAK TO. OKAY. YEAH. THANK YOU. GOOD QUESTION. ANY OTHER QUESTIONS ON WHAT WE COVERED THUS FAR? WE'LL DIVE INTO THE FUNDS INDIVIDUALLY. AND I'M GOING TO HAVE MISS MISS PEREZ COME UP AFTER YOUR QUESTION THOUGH. ALL RIGHT. JUST JUST REAL QUICKLY. I DON'T KNOW IF THIS SPEAKS TO WHAT THE BOARD'S CONCERN WAS, MR. BROWN, IN PARTICULAR TO THIS MANNER. BUT. I USED TO WORK WITH CITY GOVERNMENTS AND FINANCE, AND BASICALLY EACH MONTH THE CITY WOULD WOULD CLOSE HIS BOOKS. AND ONE OF THE THINGS THAT THEY WOULD DO IS THEY WOULD THEY WOULD SEND 1/12 OF WHATEVER THAT ANNUAL TRANSFER WAS BUDGETED. SO I HAVE NOT PERSONALLY WORKED WITH DUNCANVILLE, BUT I, I SUSPECT WHEN I SEE THAT THE PERCENTAGE OF BUDGET USED IS 50% AND THESE. THIS DATA IS THROUGH MARCH 31ST.
AND THAT TELLS ME, OKAY, THIS IS HALF THE YEAR GONE, HALF THE YEAR'S EXPENDITURES DONE. SO I DON'T KNOW IF IT MAKES ANY SENSE, BUT ALL ACCOUNTING, IT MAKES SENSE TO ME. RIGHT, RIGHT.
HE'S IN A POSITION TO ME. SORRY. FOR THE RECORD, IT MADE A LOT OF SENSE TO ME. RIGHT. OKAY.
ALL RIGHT. LET'S TALK ABOUT A LITTLE BIT MORE IN DETAIL, KIND OF HOW THE FUNDS BREAK OUT. I'M GONNA INVITE MARCELA TO COME WALK US THROUGH THESE NEXT COUPLE OF SLIDES. ALL RIGHT.
THANK YOU. SO WE HAVE HERE OUR FIRST SUBSECTION IS ADMINISTRATION. AND AGAIN, I THINK SPEAKING TO MR. HARVEY'S POINT, YES, WE ARE ABOUT HALFWAY THROUGH THE YEAR. SO THOSE PERCENTAGES ARE TRENDING. LET'S SEE. WE DID ALSO PROVIDE A COPY TO YOU FOR YOU TO BE ABLE TO LOOK AT AND TAKE WITH YOU. SO THAT WAY IF THERE'S ANY QUESTIONS POST PRESENTATION, YOU CAN ABSOLUTELY BRING THOSE BACK TO US AND WE CAN REVISIT THOSE AT THE UPCOMING MEETING.
AND I BELIEVE MAY IS WHAT WE WHEN WE ARE ACTUALLY PLANNING TO PRESENT THE BUDGET IN FULL.
[00:40:03]
AND SO IF YOU REMEMBER JUST KIND OF SOME BACK STORY FROM LAST YEAR, LAST FISCAL YEAR, IT WAS PROPOSED TO ACTUALLY VISIT THE YEAR TO DATE TOTALS BEFORE YOU APPROVED THE BUDGET. SO THAT'S KIND OF WHAT THIS EXERCISE IS HOPING TO ACCOMPLISH IS KIND OF GIVE YOU AN UPDATE ON WHERE WE ARE FOR FISCAL YEAR 26 AT THIS POINT IN TIME. AND THEN GOING INTO THE FISCAL YEAR 27 BUDGET PRESENTATION. THEN FOLLOWING GOING BACK TO THE PRESENTATION FOR BEAUTIFICATION AGAIN, SUPPLIES AND MATERIALS, CONTRACTUAL PROFESSIONAL SERVICES, MAINTENANCE AND REPAIRS. I KNOW PARKS HAS DONE A REALLY GOOD JOB. THEY HAVE BEEN VERY MINDFUL AND TRYING TO BE VERY GOOD STEWARDS OF THE FUNDS. SO THAT IS SOMETHING, IF IT HASN'T BEEN FULLY SPENT YET, IS THAT THEY'RE TRYING TO EITHER FIND THE BEST PRICE POSSIBLE OR REALLY LOOK AT WHAT'S BEEN BUDGETED TO DETERMINE IF HOW THEY CAN EITHER DO OR DO THINGS DIFFERENTLY, OR JUST AGAIN, THEY'RE JUST WAITING FOR A TIME TO MAKE SURE THAT THEY'RE GETTING ALL OF THE, THEIR DUCKS IN A ROW TO MAKE SURE THAT THEY'RE SPENDING, MAKING THE BEST OF THE FUNDS THAT ARE GOING TO BE SPENT. SPECIAL EVENTS. AGAIN, AS MARLA MENTIONED, MISS HANLEY IS OVER THIS AREA. THE SALARY AND BENEFITS THAT YOU SEE THERE IS MOSTLY THE LABOR FOR THE EVENTS. YOU KNOW, AS YOU KNOW, THAT THESE SIGNATURE EVENTS TAKE ARE QUITE A PRODUCTION AND TAKE A LOT OF EFFORT TO ASSIST MISS HANLEY ON THIS DAY TO CARRY OUT THESE CITY WIDE EVENTS. SO THAT'S WHAT YOU'LL SEE THERE IN TERMS OF INCENTIVES AND SPECIAL PROJECTS. AGAIN, GOING INTO CONTRACTUAL SERVICES, WHICH STAR TRANSIT VISITED US LAST MONTH AND THEY PRESENTED TO YOU ALL AND GAVE YOU AN UPDATE THAT IS PAID UP FRONT. SO THAT IS WHERE YOU SEE THERE. THAT AMOUNT ACTUALLY HAS BEEN THAT LINE ITEM HAS BEEN FULLY EXPENDED FOR THE YEAR SPONSORSHIPS. WE ARE STILL RECEIVING SPONSORSHIPS FOR THE REMAINDER OF THE YEAR. WE HAVE ABOUT 25,000 REMAINING ECONOMIC INCENTIVES. THE DESIGN INCENTIVE GRANT WILL BE A BIG PORTION THAT COMES OUT OF THAT BUDGET HERE SOON. ONCE WE GET THOSE PRESENTATIONS TO YOU ALL AND MAKE AWARDS, AND THEN WE HAVE THE COMMUNITY DEVELOPMENT INCENTIVES THAT WE'RE LOOKING AT IN PAST YEARS, THIS LINE ITEM, SOME OF THE PROJECTS THAT HIT THIS AREA WERE THE BEAUTIFICATION OF MAIN STREET WITH THE HANGING BASKETS. I DON'T KNOW IF YOU REMEMBER SOME OF YOU THAT WERE ON THE BOARD AT THAT TIME, THE HANGING BASKETS, THE PLANTERS AND THE LIGHT POLE SIGNS, THE HOLIDAY SIGNS, THOSE, THE ONES THAT REVOLVE AROUND SPECIAL HOLIDAYS AND EVENTS. AND THEN OF COURSE, THE TRANSFERS. THE THIRD SECTION THERE FOR TRANSFER TO THE GENERAL FUND AND THE, THE FIELD HOUSE TRANSFER IS STILL LISTED THERE, BUT WE OF COURSE DON'T HAVE THAT ANYMORE. AND SO TO MISS ABNEY'S EARLIER QUESTION, THIS SLIDE DOES REPRESENT ALL OF THE CURRENT OUTSTANDING OBLIGATIONS THAT THE DC EDC HAS, BASED ON PREVIOUS INCENTIVES THAT HAVE BEEN AWARDED. KIM AND JENNY'S REDBIRD SKATELAND, WHICH REDBIRD SKATELAND IS ACTUALLY PAID. SO WE ARE FULLY CURRENT ON THAT. MORE SUPPLY IS A VERY LARGE CORPORATION IN THE AREA.THAT IS, I SHOULD SAY, A VERY LARGE CONTRIBUTOR TO OUR SALES TAX BASE, AND THEY ARE IN PHASE THREE, WHICH I BELIEVE MARLON WAS JUST OUT THERE VISITING WITH THEM. THEY MIGHT HAVE SOME CHANGES TO THEIR CONSTRUCTION BASED ON THE SOME NEEDS OF THE BUSINESS THAT HAVE CHANGED. SO BUT THAT AMOUNT IS IS STILL OUT THERE. CORINTH PROPERTIES, WHICH CAME TO US FOR THE PROPERTY ON 67 PEGASO, WHICH INCLUDES RAILROAD FLATS, AND THEN THE RECENT JC REAL ESTATE INCENTIVE FOR THE TEXAS SPADES. BARBER. BARBER ACADEMY BUSINESS EXPANSION. AND THEN LASTLY, OF COURSE, THE BLUE DOT OPEN REWARDS LOCAL SHOP LOCAL CAMPAIGN THAT WILL BE KICKING OFF HERE ON SMALL BUSINESS WEEK. YES, MA'AM. ON THIS ONE HERE ARE WE. I KNOW THAT SOME OF THEM AND I DON'T KNOW IF THESE HAVE, YOU KNOW, LIKE SOME OF THEM HAVE LIKE SIX MONTHS, SOME
[00:45:03]
OF THEM HAVE 12 MONTHS ARE WE ARE IN ANY TIME. LIKE, IS EVERYONE WITHIN THEIR WINDOWS.SO FOR I WILL SAY FOR KIM AND JENNY, THAT WAS A FIVE YEAR OBLIGATION, WHICH WE ARE PAYING OUT ANNUALLY. I BELIEVE 27,000 IS THE AMOUNT THAT WE'RE PAYING OUT ANNUALLY. I'M THE ONLY ONE CURRENTLY WHICH MORE SUPPLY. THEIR INCENTIVE WAS BASED ON A PHASED, YOU KNOW, SEVERAL PHASES, THREE PHASES TO BE EXACT. BUT WE'RE LOOKING TO REVISIT THAT. WE MAY HAVE TO COME BACK WITH AN AMENDMENT SO THAT THEY CAN JUST BASED ON WHAT WHAT THEY NEED TO FINISH OUT THEIR PHASE THREE, BECAUSE I BELIEVE SOME OF THE PROJECT SCOPE CHANGED. SO WERE THEY STILL WITHIN THEIR TIMELINE? I BELIEVE WAS IT 20? EXCUSE ME, THIS YEAR WAS FOR PHASE THREE, THE END OF THIS YEAR. SO THAT'S WHAT WE INCLUDED IN THE CURRENT YEAR OBLIGATION. BUT AS AS SHE JUST MENTIONED, THEY FINISHED PHASE TWO. IT LOOKS AMAZING BY THE WAY. IT WAS A GOOD SITE TOUR. SO WHILE I WAS THERE, WE TALKED ABOUT PHASE THREE AND REALLY JUST SOME OF THE FEEDBACK THEY'VE BEEN GETTING FROM, YOU KNOW, OUR, OUR BUILDING OFFICIAL AND OUR PUBLIC WORKS STAFF IN TERMS OF WHAT THEY'RE GOING TO ACTUALLY HAVE TO DO TO THE BUILDING, IT'S LITERALLY GOING TO BE A COMPLETE DEMO AND CLEARANCE AND SITE RECONSTRUCTION. AND SO WE'RE IN PRELIMINARY DISCUSSIONS WITH THEM ABOUT WHAT CHANGES, IF ANY, WILL BE NEEDED FOR THE AGREEMENT. BUT THE AGREEMENT IS SPELLED OUT THE WAY THEY WOULD START AND FINISH PHASE THREE THIS YEAR. SO THAT'S WHY WE SHOW IT. SO THEY'RE STILL WITHIN THE FRAMEWORK OF THE AGREEMENT. I THINK MAYBE WHEN YOU REFERENCED IN THE PAST AND THIS MAY HAVE BEEN LAST YEAR, WE ACTUALLY REPEALED AND RESCINDED A LOT OF GRANTS THAT HAD BEEN AWARDED THAT HAD JUST NOT MADE ANY MOVEMENT. BUT ALL OF THESE ARE CURRENT. YOU KNOW, THEY'RE EITHER MULTI-YEAR DEVELOPMENTS OR WE'RE EXPECTING THEM TO ROLL OFF OR PERFORM DURING THIS CURRENT YEAR. SO THAT'S WHAT WE SEE, THE STAGGERING OF THE STATUS OF THE GRANTS. AND THEN WE HAVE AN OPPORTUNITY, IF WE DO NEED TO PROVIDE SOME SORT OF ASSISTANCE OR ADDITIONAL TIME, WE WOULD HAVE AN OPPORTUNITY TO, YOU KNOW, GET THE INFORMATION AND KIND OF PUT IT ON PAPER SO THAT WE KIND OF STAY IN COMPLIANCE IF THEY ROLL OVER. CORRECT? THAT'S CORRECT. OKAY.
SO WE HAVE SOME AGREEMENTS THAT HAD THOSE LIKE HARD MILESTONES, RIGHT? TO MAKE SURE IT'S CLEAN.
IF WE KNOW WE'RE GOING TO BE APPROACHING THAT, WE'VE SEEN AS THE RECENT ONE THAT WE BROUGHT BACK BECAUSE, YOU KNOW, THEY WERE GOING TO THEY KNEW THEY WEREN'T GOING TO HIT THAT MILESTONE. SO THEY WANTED TO MAKE SURE THAT THEY WERE STILL UNDER COMPLIANCE. AND WE'LL CONTINUE TO DO THAT FOR THE ONES THAT ARE AT RISK OF NEEDING MORE TIME. RIGHT. OKAY.
AND THEN MY LAST QUESTION, SO IS TAKEOUT BURGER NOT DOING IT ANYMORE? BECAUSE I DON'T SEE THAT ONE ON HERE. SO AGAIN, WE THAT WOULD BE ONE THAT'S BEEN AWARDED IF WE CALL DURING THE MARCH MEETING, WE TALKED ABOUT JUST WHERE THINGS WERE WITH THEM AND HOW WE HADN'T HAD REALLY ANY MOVEMENT WITH RESPECT TO THE VARIANCE ASSIGNMENT. WE NOTICED THEM THAT JUNE IS REALLY THAT THAT SIX MONTH MILESTONE. AND SO, YOU KNOW, WE MAY BE BACK TO HAVE A CONVERSATION ABOUT THAT PARTICULAR WARD AS SOON AS THE NEXT BOARD MEETING. OKAY. SO THEN I MAY NOT UNDERSTAND THIS CHART. HOW COME THEY'RE NOT ON HERE IF IT'S OUTSTANDING? SO I'LL SAY THIS. THEY'RE ON THIS CHART. THEY'RE NOT IN THE STAFF REPORT WHERE IT WHERE IT SHOWS THE ACTUAL GRANTS THAT THEY ARE LISTED ON THERE AS AWARDED. BUT WE HAVEN'T. IT'S JUST A WORD.
IT'S JUST IT ISN'T ENCUMBERED BECAUSE THEY DON'T THEY HAVEN'T YET TAKEN THE STEPS THAT'S GOING TO BE NECESSARY TO ACTUALLY GET THIS SIGNED TO CREATE THE INCENTIVE. SO WE'RE STILL TRACKING IT. BUT THAT MAY BE ONE THAT, YOU KNOW, MAY REQUEST AN EXTENSION OR A RECAPTURE WHERE WE RESCIND THE AWARD THAT WAS PREVIOUSLY MADE. AND NOW THAT THAT MONEY BECOMES AVAILABLE AGAIN FOR ANOTHER GRANT APPLICANT. OKAY. SO IT DOESN'T GO ON HERE. THERE WAS NEVER A FORMAL INCENTIVE GRANT ESTABLISHED OR THE INCENTIVE GRANT AGREEMENT THAT WAS ESTABLISHED. ESSENTIALLY, THE CONTRACT THAT GAVE THEM THE HARD DEADLINE BECAUSE WE COULDN'T WE WERE WORKING WITH THEM TO GET THEIR VARIANCE CLEARED SO THAT THEY COULD GET THE PERMIT FOR THE SIGN. SO THE WORK WAS NEVER COMPLETED. SO THEY NEVER GOT AN INCENTIVE.
THEY NEVER GOT THE AGREEMENT. THERE WAS NEVER A FORMAL AGREEMENT ISSUED. SO HOW DOES THAT WORK? THERE WAS AN AWARD MADE RIGHT RESOLUTION APPROVED. THERE WAS A RESOLUTION. THEY HAVE THE WE SAY WE HAVE THE BUDGET AUTHORITY TO EXECUTE THE AGREEMENT BECAUSE IT SHOULD BE ENCUMBERED. YES. RIGHT. WE USUALLY WE USUALLY ENCUMBER AFTER THE AGREEMENT IS IN PLACE,
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BUT WITH THEIRS, LIKE MARLIN SAID, IT WAS AWARDED. IT JUST. THE AGREEMENT IS WHAT REALLY, TRULY MEMORIALIZES THAT AWARD AND THE AGREEMENT IN TERMS OF WHAT THE DC EDC IS GOING TO AWARD THEM, HOW MUCH, WHAT THEIR DEADLINE DATE IS. AND THAT IS ALSO WHAT HELPS US TO USE AS A TOOL TO SAY, OKAY, OFFICIALLY, AS OF THIS DATE, YOU AGREED, YOU SIGNED THAT IF YOU DID NOT HAVE YOUR PROJECT COMPLETED BY THAT SIX, WHATEVER THAT SIX MONTH PERIOD WAS, THEN THAT THE CONTRACT WAS NULL AND VOID. BUT SINCE WE DIDN'T HAVE THAT, THAT IT KIND OF WAS. IT'S A VERY. INDIVIDUAL SITUATION. AND I WOULD SAY IT'S NOT THE NORM AT ALL. IT'S JUST THE WAY THAT IT HAPPENED. IT WAS A LITTLE DIFFERENT. SO IF WE WHEN, IF AND WHEN THEY DO BRING THAT BACK, JUST FOR COMPLETE TRANSPARENCY, IS IT POSSIBLE TO BRING THAT BACK FOR US TO. WELL, I MEAN, BECAUSE I DIDN'T KNOW IT WAS LIKE AN OPEN ENDED. SO I'M JUST TRYING TO TRACK AN OPEN. OKAY. THAT'S ALL I. YEAH. OKAY. BECAUSE BECAUSE IT'S NOT ON HERE. SO IT'S NOT BEING TRACKED. IT NEVER GOT MEMORIALIZED BECAUSE WE CAN'T JUST GRANT AND BE LIKE, OKAY, Y'ALL, YOU KNOW, WE GOT TO HAVE A, A, A THING WITH IT. SO IF IT'S COMING BACK, ONCE THEY GET IT, I THINK THAT WOULD BE FAIR. YEAH. IF YOU, IF YOU REFERENCED THE, THE, THE ATTACHMENT IN THE PACKET, THE GRANTS TODAY, IT'S ON THERE. WE SHOW IT AS I THINK WE LABELED IT AS PENDING IN THE MARCH MINUTES. NO. AND SO ONE OF THE ATTACHMENTS THAT SHOULD BE INCLUDED IN YOUR AGENDA PACKET. OKAY. THE GRANTS ACTUALS TODAY, RIGHT. THEY SHOULD BE LISTED AS A PENDING AWARD. OKAY. AND THAT'S HOW WE'VE BEEN TRACKING IT. OH. NO, I SEE THIS ONE, BUT I DON'T SEE THAT. WHAT PAGE IS IT ON? I WOULD GIVE YOU MINE, BUT IT HAS TO STAY CHARGED BECAUSE I FIND A DOCUMENT ENTITLED DC, DC GRANTS AS OF 331. YEAH. BUT I DON'T SEE IT ON THIS PARTICULAR REPORT. YEAH, THAT'S THE ONE THAT I CLICKED ON, BUT I DON'T SEE IT. WELL, I DEFINITELY LIKE THE IDEA OF THE ONES THAT WE FEEL LIKE ARE GOING TO BE KIND OF EXTENDED OR GOING OUT, AT LEAST COMING TO US BEFORE THAT, YOU AND LETTING US KNOW THAT YOU'VE GOTTEN SOME COMMUNICATION AND IT'S OUTSIDE AND THEN WE CAN HAVE IT, YOU KNOW, MEMORIALIZED DURING THE MINUTES THAT, YES, WE KNOW THIS IS KIND OF WHERE WE'RE DOING, BUT I DON'T KNOW ABOUT THE ONE THAT IT'S NOT, I DON'T I HAVEN'T FOUND THE RIGHT DOCUMENT. MAYBE IT'S THE SUMMARY ONE. IF, IF, IF I COULD OFFER A SUGGESTION. IT DOESN'T DOESN'T LOOK LIKE WE'LL BE ABLE TO FIND IT. SO PERHAPS WE CAN JUST TASK STAFF ON THE NEXT AGENDA TO JUST PROVIDE US THE INFORMATION AND THE ACCOUNTING FROM A HISTORY STANDPOINT OF, OF WHAT HAS TAKEN PLACE WITH THAT PARTICULAR ENTITY, AND WHERE ARE THEY NOW AND WHAT ARE THE NEXT STEPS IN TERMS OF MAKING SURE THAT WE ARE ALL ON THE SAME PAGE? IN TERMS OF THIS PARTICULAR BUSINESS? I JUST OFFER THAT AS A SUGGESTION FOR. OH, YEAH, NO, I'M JUST I'M, I'M OPEN TO THAT. I JUST WAS ASKING BECAUSE WE'RE LOOKING AT THE CURRENT YEAR OBLIGATIONS, WE'RE MOVING INTO BUDGET SEASONS. AND I JUST DIDN'T SEE THAT ONE. SO I DON'T KNOW IF IT'S IN THE CURRENT YEAR OBLIGATIONS OR IF IT'S NOT IN THE CURRENT YEAR OBLIGATIONS. THAT'S IT. ANYBODY ELSE. AND I THINK AT THIS POINT, THE WAY WE'RE TREATING IT AS STAFF, BECAUSE SO MUCH TIME HAS LAPSED, WE'RE JUST GOING IT'S JUST GOING TO HAVE TO COME BACK IF THAT APPLICANT WOULD LIKE TO PURSUE THE THE GRANT FROM THIS POINT GOING FORWARD. OKAY. YES, MA'AM. AND I THINK THAT'S CONSISTENT WITH MY UNDERSTANDING AS WELL. I WAS OF THE UNDERSTANDING THAT IT'S PRETTY MUCH AT THE DEADLINE. SO TO MOVE FORWARD WITH GETTING THE SIGN AND THAT SORT OF THING, IT'S MY UNDERSTANDING WAS, AND MAYBE I'M USING THE WRONG TERMINOLOGY, BUT THEY HAVE TO GO BACK TO SQUARE ONE. SO AND[00:55:02]
IF I'M AND IF I'M WRONG, CORRECT ME ON THAT. BUT THAT'S WHY I'M ASKING, YOU KNOW, GIVE US A REPORT ON THAT SO WE CAN ALL BE ON THE SAME PAGE. SO. YOU GUYS HAVE THE FLOOR. Y'ALL CONTINUE. YEAH. OKAY. OKAY. SO ALL THE ACTIVITY AGAIN, I THINK WE STARTED THE EARLIER SLIDE.SO THE PROJECTED FUND BALANCE, RIGHT, THAT WE'RE PROJECTING THE END THIS FISCAL YEAR A LITTLE OVER $8 MILLION, RIGHT? THAT EQUATES TO 988 DAYS OF, OF FUND FUND BALANCE. SIDE NOTE NOT THIS FISCAL YEAR, OBVIOUSLY, BUT TWO YEARS FROM NOW, WE'LL HAVE THAT OBLIGATION FROM THE TIF BOARD BASED ON THAT LOAN MADE TO THAT ORGANIZATION AS PART OF THIS CREATION THAT BECOMES DUE AND ANYTHING IN BETWEEN, RIGHT. WE'VE GOT AN ITEM ON THE AGENDA LATER TONIGHT. WE'LL TALK ABOUT ANY OTHER, YOU KNOW, INVESTMENT OR, YOU KNOW, DEVELOPMENT ACTIVITY THAT RESULTS IN, YOU KNOW, NET REVENUE WOULD OBVIOUSLY BE INCLUDED AND IMPACT THE STATUS OF THAT. BUT JUST AS IT IS RIGHT NOW, THAT'S WHAT WE'RE LOOKING AT IN TERMS OF PROJECTED FUND BALANCE AT THE AT THE END OF THIS FISCAL YEAR. LET'S GO TO THE NEXT SLIDE. MY PHONE KEEPS GOING OFF. CITY. IT'S THE CITY CALLING. IT'S THE CITY IS GOING OFF. SO OKAY, SO WE SPENT, LIKE YOU SAID, THE MOST PART OF TALKING ABOUT THIS CURRENT FISCAL YEAR. WE WENT THROUGH THE FUNDS, HOW OUR BUDGETS MADE UP, JUST KIND OF WHERE THINGS ARE AT THE HALFWAY POINT IN TERMS OF BUDGET ACTUALS TOOK A LOOK AT THE REVENUE. AND THEN THAT LAST SLIDE. THIS IS OUR FUND BALANCE. YOU KNOW, IN THAT POSITION BASED ON, AGAIN, THE BALANCE SHEET. AND SO NOW AS WE LOOK FORWARD TO NOW PUTTING TOGETHER THE PROPOSED BUDGET, WE WANTED TO HAVE THE CONVERSATION WITH THE BOARD. WHETHER YOU DELIBERATE AMONGST YOURSELF, GIVING US FEEDBACK, YOU KNOW, WHAT SHOULD SET THE STAGE FOR US? BUILDING THE BUDGET SHOULD BE THE PRIORITIES RIGHT, OF THIS BOARD, YOU KNOW, BASED ON JUST THE STRATEGIC, YOU KNOW, FOCUS FOR THIS GIVEN YEAR. AND SO ONE OF THE THINGS THAT WE'VE TALKED ABOUT IS STAFF, AND IT'S EVIDENT A LITTLE BIT IN THIS CURRENT FISCAL YEAR BUDGET, IS IDENTIFYING TARGETED CORRIDORS, TARGET INDUSTRY, RIGHT AND OR BOTH. RIGHT. BECAUSE THEN THAT'LL HELP US IN TERMS OF THE ALLOCATION OF SETTING UP THE PROPOSED BUDGET FOR YOUR CONSIDERATION. RIGHT. WITH THAT IN MIND, THE OTHER THING TOO IS, YOU KNOW, MARCELO WENT THROUGH THE DESIGN INCENTIVE PROGRAM EARLIER. IF WE LOOK AT THE BUDGET ALLOCATION IN THIS CURRENT FISCAL YEAR, IT'S ONLY LIKE $50,000. YEAH. SO BUT THE REQUEST WE SAW IN TOTAL, LIKE SEVEN, EIGHT TIMES THAT. SO MAYBE WE WANT TO LOOK AT, YOU KNOW, IF THAT'S AN AREA OF OUR TOOLBOX THAT WE WANT TO MAYBE CONSIDER TAKING A LOOK AT, YOU KNOW, IT WAS IT WAS A DEPARTURE FROM THE PREVIOUS FISCAL YEARS WHERE WE WERE REALLY AWARDING A LOT MORE OF GRANTS IN THAT CATEGORY AND DESIGN INCENTIVES.
THIS CURRENT FISCAL YEAR'S BUDGET, IT WAS A PRETTY CONSIDERABLE REDUCTION IN THAT CATEGORY. AND PUTTING MORE OF THE INCENTIVES INTO WHAT WE REFER TO AS ECONOMIC DEVELOPMENT PROJECTS, YOU KNOW, BUSINESS EXPANSION AND ATTRACTION LIKE THAT. AND SO MAYBE THAT'S SOME THOUGHT THAT WE WANT TO, YOU KNOW, HEAR BACK FROM YOU ALL OR CONSIDER AS WE AGAIN, BUILD AND PUT TOGETHER THIS BUDGET FOR YOUR CONSIDERATION INVESTMENT POLICY.
RIGHT? AGAIN, WE JUST SHOWED THE NET POSITION OF THE CORPORATION THAT FUND BALANCE OF $8 MILLION. YOU KNOW, THE FINANCE STAFF, THEY'LL USUALLY SET THE FORECASTS OF ANTICIPATED SALES TAX REVENUE, RIGHT? SO THAT'S USUALLY WHAT AS YOU KNOW, MR. HARVEY SETS THE DELTA FOR WHERE WE BUILD OUR BUDGET FROM. THIS IS WHAT WE THINK WE'RE GOING TO COLLECT IN SALES TAX REVENUE. SO Y'ALL TAKE THIS AMOUNT AND BUILD A BUDGET. BUT AND THAT'S FINE.
THAT'S THE EXERCISE THAT'S PRETTY CLEAN. BUT WE'VE ALSO GOT THIS HUGE ROBUST FUND BALANCE. SO IT'S AS WE BALANCE THE REQUEST AND MAYBE HOW WE WANT TO APPROACH INCENTIVIZING PROJECTS, JUST CARRYING OUT OUR WORK PLAN, MAYBE SOME THOUGHT TO, YOU KNOW, HOW WE MIGHT WANT TO LOOK AT OUR INVESTMENT POLICY OR MAYBE HOW WE STRUCTURE FUNDING PROJECTS, WHETHER MAYBE THAT'S NOT SOLELY FROM CASH, MAYBE WE MAKE USE OF, YOU KNOW, TEMPORARY DEBT INSTRUMENTS THAT MAY LEVERAGE THE CREDIT OR THE FUND BALANCE. AGAIN, THESE ARE JUST THOUGHTS
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THAT WE WANT TO PUT OUT THERE IN THIS FORMAT TO SEE WHAT MIGHT BE SOME STRATEGIES OR WAYS OF WHERE WE, YOU KNOW, WE'RE BEING FISCALLY PRUDENT BY KEEPING SOME RESERVES IN THE FUND BALANCE. BUT AT WHAT POINT DOES THAT AMOUNT BECOME EXCESSIVE OR IT'S AN OPPORTUNITY COST, WHEREAS MAYBE WE HAVE MORE MONEY TO INVEST BACK INTO THE LOCAL ECONOMY.AND THEN THE LAST THING, BUSINESS RETENTION, AGAIN, WE'RE TRACKING OUR BUSINESS VISITS SITE SUBMISSION. SO WE'RE ABLE TO REPORT ALL OF THAT ACTIVITY AS WE PREPARE THIS BUDGET. WE'RE ALSO SCHEDULED FOR OUR QUARTERLY OR SEMIANNUAL UPDATE FOR CITY COUNCIL IN JUNE. SO THIS WILL BE THE FIRST, YOU KNOW, PRESENTATIONS THAT, YOU KNOW, WE'LL HAVE WITH A LOT OF THAT MID-YEAR DATA. IT WILL BE FOR THIS BOARD STARTING NEXT MONTH AND THEN CARRYING ON THROUGH JUNE. OKAY. SO PAUSE, QUICK PAUSE. ANY THOUGHTS SO FAR THAT, YOU KNOW, IT'S KIND OF RAMBLED THROUGH THOSE 4 OR 5 BULLET POINTS. IN THINKING, OKAY, LET'S MOVE TO THE OTHER SIDE OF THE SLIDE. RIGHT? THE COMMUNITY DEVELOPMENT TRADITIONALLY, RIGHT? LIKE THAT D C, E D, C PORTION OF, YOU KNOW, HOW WE'VE HISTORICALLY FUNDED PROJECTS, THERE'S BEEN A MIXTURE OF, YOU KNOW, REAL ESTATE DEVELOPMENT, BUSINESS INVESTMENT, EXPANSION, ETC. BUT IT'S ALSO FUNDING, YOU KNOW, NONTRADITIONAL INITIATIVES LIKE SIGNATURE EVENTS, YOU KNOW, PARKS BEAUTIFICATION, YOU KNOW, HISTORICALLY, YOU KNOW, THIS CORPORATION WAS INVOLVED IN THE CONSTRUCTION OF THE LIBRARY AND SENIOR CENTER REC CENTER. SO AS WE ANTICIPATE THOSE FUNDING REQUESTS, LIKE WE'VE BEEN DOING HISTORICALLY, ONE OF THE THINGS THAT, FOR EXAMPLE, PARKS AND RECREATION DEPARTMENT, RIGHT, HAVE BEEN TASKED WITH TRYING TO MOVE A LOT OF THE FUNDING REQUESTS OUT OF MAINTENANCE AND OPERATION AND TARGET MORE CAPITAL PROJECTS AND EQUIPMENT. RIGHT. STILL ELIGIBLE UNDER FOUR B, RIGHT. STILL FROM THAT DEPARTMENT, BUT LESS FUNDING FOR MOWING AND LANDSCAPING AND FIGURING OUT WAYS WHERE WE COULD LEVERAGE THE CORPORATION'S FUNDING FOR CAPITAL PROJECTS STILL TIED TO PARKS AND RECREATION AND BEAUTIFICATION. SO WE'RE ANTICIPATING HAVING WHAT'S BEING DESCRIBED AS A A MULTI-YEAR CAPITAL IMPROVEMENT PLAN, BUT FOR PARKS AND RECREATION, RIGHT, FOR OUR CONSIDERATION. SO ANTICIPATE THAT BEING A SLIGHT DEPARTURE IN TERMS OF THE NATURE OR THE PROPOSED USE OF THE BEAUTIFICATION FUNDS, WHERE, LIKE I SAID, HISTORICALLY IT'S BEEN MORE HEAVILY ON THE MAINTENANCE AND BEAUTIFICATION.
WE'RE HAVING CONVERSATIONS WITH THEM ABOUT CAPITAL PROJECTS. OKAY. AND THEN PUBLIC SAFETY AGAIN, WE HAD CHIEF STOGNER HERE LAST MONTH TO GIVE US AN UPDATE ON THIS CURRENT FISCAL YEAR FUNDING, HOW THINGS ARE GOING. HE STOPPED BY THE OFFICE EARLIER TODAY. THEY'RE PREPARING THEIR REQUEST. AND SO WE'LL SEE THAT ONGOING APPROACH TO CRIME PREVENTION, CRIME DETERRENCE, LIKE IN OUR COMMERCIAL CORRIDORS, WHETHER THEY'RE OFF OF 67 HIGHWAY OR I-20, WHETHER IT'S A HOTEL PROPERTIES OR WHETHER IT'S A COMMERCIAL PROPERTY ON MAIN STREET, RIGHT? THAT, YOU KNOW, WE CERTAINLY WANT TO BE MINDFUL OF THAT PRESENCE, THAT SENSE OF DUNCANVILLE IS SAFE, RIGHT? OUR BUSINESSES, YOU KNOW, WELCOME AND OPEN. AND SO THAT'LL BE INCLUDED. AND THEN THE LAST CATEGORY, HOUSING, RIGHT? NO, TRADITIONALLY WHAT WE'VE BEEN HEARING, WHETHER IT'S THE COMPREHENSIVE PLAN, WHETHER IT'S THE VARIOUS TALKING POINTS AMONG PLANNING COMMISSION OR STAFF, EVERYONE WANTS MIXED USE DEVELOPMENT, RIGHT? A MIXTURE OF HOUSING AND COMMERCIAL. BUT WHAT THIS COMMUNITY REALLY DOESN'T HAVE, AT LEAST WE'VE REALLY COME ACROSS AS A DEFINED STRATEGY AROUND HOUSING. RIGHT. AND SO JUST BEING MINDFUL AS IF WE RECEIVE PROPOSALS OR DEVELOPMENT, IS THERE AN OPPORTUNITY FOR US AS A STAFF, AS A BOARD TO KIND OF SIGNAL AND SAY, HEY, HERE'S THE STRATEGY THAT WE WANT TO USE THIS, THIS CORPORATION, THIS FUNDING FOR AS PART OF THE IMPLEMENTATION OF THE COMPREHENSIVE PLAN, RIGHT. ANY THOUGHTS, ANY FEEDBACK ON THOSE TALKING POINTS OR CATEGORIES? NOW, JUST THINKING BACK TO MY OWN EXPERIENCE. A FUN TIME OF OUR FUND BALANCES WERE ALWAYS CONSIDERED SOURCES OF, OF FUNDING FOR CAPITAL PROJECTS AND ONE TIME EXPENDITURES, THAT
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SORT OF THING. SO IT WILL BE INTERESTING TO SEE HOW THAT UNWINDS AS WE GO THROUGH THE BUDGET PROCESS. ALSO, I THINK WE BRIEFLY TOUCHED ON THE THE I-20 CORRIDOR. AND WHAT IS THAT? WHAT IS THE NAME OF THAT PROGRAM WE HAVE WORKING IN THAT PARTICULAR CORRIDOR? AGAIN, OF OUR TIF? YES. YEAH. THE TIF YEAH. PARTNERING WITH THE TIF. YEAH. IN ORDER TO ADDRESS INFRASTRUCTURE NEEDS IN THAT AREA OF TOWN AS WELL. SO JUST A COMMENT. THANK YOU. OKAY. YEAH, I THINK WE TALKED ABOUT A LOT OF THIS. YOU KNOW, I HADN'T CLICKED ON THE SLIDE. SO AGAIN, WHAT WE'RE ANTICIPATING AND WHAT YOU SHOULD ANTICIPATE, YOU KNOW, AS WE PREPARE THE PROPOSED BUDGET IS, YOU KNOW, THE REQUEST WITH THE PARKS AND RECREATION SPECIAL EVENTS AND PUBLIC SAFETY AS, AS CATEGORIES, WE SAY OF SUPPLEMENT TO OUR DEPARTMENT OPERATIONS AND INCENTIVES. OKAY. IN TERMS OF TIMELINE. SO TONIGHT WAS THE FIRST CONVERSATION. YOU KNOW, I LOOK BACK TO SEE WHERE THINGS ARE AS WE, YOU KNOW, ARE AT LIKE THE HALFWAY POINT OF THE CURRENT FISCAL YEAR, PREPARING TO TALK ABOUT THIS PROPOSED BUDGET OVER THE NEXT TWO MONTHS.SO BRINGING THIS BACK THE NEXT MEETING IN MAY WITH THAT PROPOSED BUDGET TO, YOU KNOW, DIVE INTO THE VARIOUS FUNDS AND THE SPECIFIC REQUESTS, WE'LL INVITE EACH OF THOSE GROUPS TO BE AVAILABLE FOR ANY QUESTIONS AS, AS YOU KNOW, AS PARTY TO THE PROPOSED BUDGET. AND THEN WE HAVE THE JUNE MEETING AS THE TARGET FOR ADOPTION. AND, YOU KNOW, OUR BYLAWS JUST SAY WE HAVE TO HAVE OUR BUDGET ADOPTED AND READY FOR THE CITY COUNCIL BY JUNE 30TH. SO THIS CERTAINLY GIVES US THAT ROOM. IF WE NEED MORE TIME. YOU KNOW, WE GOT LIKE ANOTHER WEEK AT THE END OF THE MONTH. BUT HOPEFULLY, YOU KNOW, WE'LL DO OUR JOB AND BE GOOD LISTENERS AND PUT TOGETHER A BUDGET THAT, YOU KNOW, IS, IS, IS ACCEPTABLE. AND CONSIDERING, YOU KNOW, WHAT THE PRIORITIES ARE AND THEN WE'LL BE IN GOOD SHAPE. IT DOESN'T SOUND LIKE WE'LL BE HOLDING UP THE PROCESS.
SO AS LONG AS WE GET THE INFORMATION ON TIME, WE CAN DO IT ON TIME. I MEAN, I WOULD, I WOULD JUST SAY ANY THOUGHTS? JUST, I MEAN, BASED ON WHERE THINGS ARE WITH THE CURRENT BUDGET, HOW THINGS ARE UNFOLDED, IS THERE ANY WE'LL SAY PRIORITIES THAT WE AREN'T, YOU KNOW, MEETING HAVEN'T FACTORED INTO THIS CURRENT BUDGET THAT WE'D WANT TO SEE FOR THIS PROPOSED BUDGET THAT WE BRING FORWARD. I THINK WE WERE CHALLENGED BY THE CITY COUNCIL OR A REPRESENTATIVE FROM THE CITY COUNCIL AS FAR AS THE. SIZE OF OUR FUND BALANCE CURRENTLY, AND I'M NOT SAYING RIGHT, WRONG OR DIFFERENT, IT IS WHAT IT IS. YEAH. A FEW YEARS BACK WE DID AND WE JUST SOLD THE PROPERTY, BUT WE DID INTENTIONALLY BUY THAT PROPERTY TO SERVE AS A CATALYTIC PROJECT FOR THE CITY. YEAH. WHETHER THAT MATERIALIZE THE WAY IT WAS, THAT WAS SORT OF THE STRATEGY AT THAT TIME. SO I'M NOT SURE IF THERE'S SOMETHING ELSE THAT WE WANT TO ENTERTAIN AS FAR AS, IS THERE SOME OTHER SORT OF PROJECT THAT WE WANT TO TARGET THAT'S GOING TO HELP FURTHER SPUR DEVELOPMENT IN A SPECIFIC CORRIDOR OR SPECIFIC AREA THAT WE THINK WOULD BE BENEFICIAL, WOULD BE SOMETHING I WOULD BE WILLING TO ENTERTAIN A DISCUSSION ABOUT. OKAY, NO, I'LL CONCUR WITH THAT. LET ME ASK YOU THIS. THIS WAY. IF WE WERE TO SAY, HEY, THE TARGET AREA IS AT LEAST AS PART OF LIKE THE STAFF DISCUSSION, MAIN STREET NORTH TO SOUTH, RIGHT. AND THEN THOSE KEY CORRIDORS THAT INTERSECT WITH MAIN STREET, WHETHER IT'S CAMP WISDOM, WHICH OVERLAPS OUR TAX INCREMENT FINANCING DISTRICT, WHETHER IT'S WHEATLAND ROAD WITH THE PROJECTS THAT WE HAVE HERE, OR WHETHER IT'S SOUTH OF DANIEL DALE. AND THEN YOU END UP WHERE THE FIELDHOUSE, IF WE WERE TO SAY LIKE PRIORITY AREAS, YOU KNOW, CORRIDORS, WHAT WOULD BE YOUR FEEDBACK FOR LIKE MAIN STREET AS, AS A FOCAL POINT? AND THEN I WOULD SAY ALSO, YOU KNOW, OUR INTERSTATES, WHETHER IT'S I-20 OR 67, A LOT OF THOSE ARE GOING TO BE MORE MARKET DRIVEN, RIGHT? JUST BASED ON, YOU KNOW, HOW THOSE MULTINATIONAL CHAINS THAT USUALLY SEE ALONG INTERSTATE HIGHWAYS, THOSE THINGS ARE REALLY LESS DRIVEN BY OUR POLICY, REALLY MORE FUNCTIONS OF MARKET CONDITIONS, BUT STILL A PRIORITY FOR US BECAUSE OF, YOU KNOW, JUST HOW, HOW VISIBLE THEY ARE. AND SO, AND I GUESS
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THE OTHER THING WITH THIS CURRENT BUDGET, WE CALLED OUT SPECIFIC INVESTMENT OPPORTUNITIES, SET ASIDE MONEY FOR LIKE OUR SHOPPING CENTERS, RIGHT? WE STILL HAVE, YOU KNOW, WHEATLAND PLAZAS TURNED OUT GREAT, RIGHT? BUT WE HAVE 3 OR 4 OTHER ONES OR 4 OR 5, DEPENDING ON, YOU KNOW, HOW WE'RE COUNTING THAT ARE IN NEED OF INVESTMENT, RIGHT? REINVESTMENT. SO JUST FROM THE STAFF PERSPECTIVE, LIKE THE WAY WE'VE BEEN APPROACHING IT IS, YES, OUR DOWNTOWN MAIN STREET, OUR MAJOR THOROUGHFARES AND CORRIDORS. AND THEN MORE SPECIFICALLY, LIKE THESE DECLINING AND BLIGHTED SHOPPING CENTERS IN THE COMMUNITY IN TERMS OF GEOGRAPHY, THEN I GUESS THE OTHER THING IS IF WE WANT TO LIKE CALL ATTENTION TO SPECIFIC INDUSTRY, LIKE TARGETED INDUSTRY, SO WHETHER I'M IN THE COMMUNITY OR TALKING AMONG STAFF AROUND HERE, EVERYBODY ALWAYS HAS A FAVORITE DINING ESTABLISHMENT THAT THEY WOULD LIKE FOR US TO SEE. SO IT SEEMED LIKE I'M PRETTY SURE AS LONG AS WE'RE WORKING AT RESTAURANTS AND DINING OPTIONS IS ALWAYS BE LIKE HIGH PRIORITY FOR THE COMMUNITY. SO I'M CURIOUS IF YOU CONCUR WITH THAT. I WILL SAY THAT I THAT I CONCUR WITH THAT. I MEAN, OUR, OUR, OUR SITUATION IS, AS YOU SAY, YOU GO UP AND DOWN MAIN STREET, YOU GO UP AND DOWN 67, YOU GO UP AND DOWN WHEATLAND, YOU GO UP AND DOWN CAMP WISDOM, ANY AND ALL PROJECTS THAT WOULD BE WORTH THEIR SALT IN THAT PARTICULAR. IN THOSE PARTICULAR REGIONS, I, YOU KNOW, I WOULD TAKE A CLOSE LOOK AT TO SUPPORT. SO THERE'S A LOT OF WORK TO BE DONE. MY CONCERN IS GETTING THE PARTNERS LINED UP TO WORK WITH THAT. YOU KNOW, INDIVIDUALS LIKE MONTY AND OTHER INDIVIDUALS LIKE THAT WHO, WHO ARE WILLING TO WORK WITH US TO, TO DO THE REDEVELOPMENT.BECAUSE, YOU KNOW, WHEN YOU WHEN YOU SAY DUNCANVILLE, I HEAR REDEVELOPMENT ALMOST FROM ONE END TO THE CITY TO THE OTHER. AND SO, SO WE, WE, WE, WE ARE POINTED IN THE RIGHT DIRECTION. WE JUST NEED OPPORTUNITY AND, AND TEAM PLAYERS TO MAKE IT WORK. OKAY.
THE SLIDE BEFORE WITH THE BUDGET. SO WE WE'RE GOING TO HAVE A ONE OPPORTUNITY ON MAY 18TH. AND THEN THAT'S AND THEN WE'RE GOING TO VOTE. SO THANK YOU. SO BOTH OF THOSE MEETINGS WILL INCLUDE WORKSHOPS. SO IT'S LIKE MAY 18TH. OKAY. WE'RE GOING TO PRESENT THE DRAFT OR PROPOSED BUDGET WORKSHOP, RECEIVE FEEDBACK, BRING THAT ITEM BACK FOR CONSIDERATION NECESSARY. HAVE ANOTHER WORKSHOP AND WE'LL HAVE THE OPPORTUNITY, THOUGH, ON JUNE 22ND TO ADOPT THE BUDGET. BASED ON FEEDBACK FROM TONIGHT, MAY 18TH, AND WHAT WE WHAT WE DISCUSSED DURING JUNE 22ND MEETING. SO WE JUST HAVE. IT'S REALLY JUST ONE. OR IS TONIGHT ONE I I'M LABELED TONIGHT AS ONE. IT'S MORE ABOUT THE, YOU KNOW, CURRENT BUDGET. IT'S THE FRAMEWORK FOR THE PROPOSED BUDGET. AND THEN WE'LL PRESENT IT AND, YOU KNOW, MAKE WHATEVER ADJUSTMENTS BASED ON THE FEEDBACK AS PRESENTED, THEN BRING THAT BACK IN JUNE FOR CONSIDERATION AND ADOPTION. AND THEN IF NECESSARY, WE STILL AGAIN, HAVE A THAT LAST WEEK OF JUNE, IF WE NEED TO DO A SPECIAL CALL MEETING, THEN WE COULD STILL DO THAT AND ADOPT THE BUDGET. SO WE'VE GIVEN OURSELVES A LITTLE BIT OF CUSHION. AND THEN THE INFORMATION FOR THE LIKE THE COLLABORATIONS WITH THE DIFFERENT CITY DEPARTMENTS, ARE WE GOING TO GET ALL THAT? MAY 18TH WHAT SPECIFICALLY WHEN YOU SAY COLLABORATION WITH OTHER DEPARTMENTS? SO LIKE LAST MONTH, WE HAD A GREAT PRESENTATION FROM THE POLICE DEPARTMENT. OH, YES. AND SO THEY CAME IN AND THEY TALKED ABOUT, HEY, WE I MEAN, I CONSIDERED THAT A PARTNERSHIP OR SOMETHING. THEY GOT MONEY. AND SO THEY WERE ABLE TO DESCRIBE KIND OF HOW THAT WAS USED. HE DID A REALLY COOL PRESENTATION OF WHAT HE DID. SO. ARE THEY GOING TO ARE
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WE GOING TO RECEIVE THAT INFORMATION FOR CONSIDERATION? IF THERE MAY NOT BE ANY CITY DEPARTMENTS, MAYBE. I'M ASSUMING. I THINK I UNDERSTAND THE QUESTION. RIGHT. YEAH. SO OKAY, SO THAT WAS SO AS PART OF THIS CURRENT YEAR'S BUDGET THAT WAS ADOPTED, YOU KNOW, THE FUNDING WAS AWARDED, BUT WE ALSO EXECUTED SERVICE AGREEMENTS, RIGHT? THE CORPORATIONS TECHNICALLY A SEPARATE ENTITY FROM THE CITY. AND SO THOSE FUNDING AMOUNTS ARE GOVERNED BY, YOU KNOW, THIS SERVICES AGREEMENT THAT WE HAVE WITH THE CITY. AND PART OF THAT IS YOU COME BACK TO THE BOARD, RIGHT, EITHER QUARTERLY OR SEMIANNUALLY, TO REPORT OUT ON HOW THINGS ARE GOING WITH THE AWARD. AND SO, YEAH, AS PART OF THE PROPOSED BUDGET, THOSE SAME DEPARTMENTS, THEY'LL BE ON HAND, RIGHT? TO SPEAK TO THE REQUEST FOR THIS NEXT YEAR'S BUDGET.THE PROPOSED FY 2627 BUDGET, AND THEN THEREAFTER, THIS TIME NEXT YEAR, THEY'LL BE BACK TO REPORT ON, HOPEFULLY, HOW WELL THINGS ARE GOING WITH THE FUNDING THAT WAS MADE TO THEM BOTH. BOTH DEPARTMENTS. THANK YOU. WELCOME. ANY OTHER QUESTIONS FROM THE BOARD FOR STAFF ON BUDGET? OKAY. THANK YOU ALL. TAKES US TO AGENDA ITEM NUMBER NINE, A OTHER
[9.A. Discuss and consider the proposed sale of the Duncanville Community and Economic Development Corporation's ownership share of Main Station LTD located at 100 S Main Street to the majority partner.]
BUSINESS. DISCUSS AND CONSIDER THE PROPOSED SALE OF THE DUNCANVILLE COMMUNITY AND ECONOMIC DEVELOPMENT CORPORATION'S OWNERSHIP SHARE OF MAIN STATION LTD LOCATED AT 100 SOUTH MAIN STREET TO THE MAJORITY PARTNER, MISTER GOLF. THANK YOU, MR. HARVEY. OKAY, SO 100 SOUTH MAIN STREET, RIGHT? THAT'S THE ADDRESS. WE REFER TO THAT PROPERTY AS MAIN STATION.RIGHT. UNDERSTAND, HISTORICALLY, IT WAS THE LOCATION OF THE POLICE DEPARTMENT, FORMER DUNCANVILLE POLICE DEPARTMENT, THUS THE NAME MAIN STATION. RIGHT. SO 22 YEARS AGO, RIGHT.
WE ENTERED THIS PARTNERSHIP KNOWN AS MAIN STATION LIMITED. IT'S A TWO STORY MIXED USE PROJECT, APPROXIMATELY 2200FT■!. WE HAVE THE MAJORITY PARTNER IF HE'S HERE, HERE TONIGHT, IF THERE ARE ANY QUESTIONS. BUT ULTIMATELY THE DCED INVESTMENT IN THE PROJECT IN PART WAS, YOU KNOW, WE WERE LIMITED PARTNER IN THIS DEVELOPMENT. THE INVESTMENT CONDITIONS AT THE TIME NECESSITATED THAT THIS INFUSION OF ADDITIONAL CAPITAL WAS NECESSARY, RIGHT, TO COMMENCE DEVELOPMENT AT THIS STRATEGIC LOCATION. RIGHT. THE INITIAL INVESTMENT, $805,000 AND 93. THIS IS A BREAKDOWN OF HOW THAT INVESTMENT WAS APPLIED TO THE PROJECT. OKAY. IF WE WERE TO LOOK AT ASIDE FROM THE INITIAL INVESTMENT, IF WE JUST LOOK AT HOW THE PROJECT HAS PERFORMED AND MORE SPECIFICALLY FOR THE TAXING ENTITIES, THIS IS WHAT THIS GRAPHIC ILLUSTRATES. SO FOR ALL THE TAXING JURISDICTION THAT SHOWS UP ON THE PROPERTY TAX BILL FOR AD VALOREM TAXES OVER THAT PERIOD, A LITTLE OVER $1.2 MILLION HAVE BEEN COLLECTED AS IT RELATES TO THIS MUNICIPALITY, THE CITY OF DUNCANVILLE, ITS SHARE OF THAT POT, $305,000 AGAIN, RIGHT. JUST APPLYING TAX RATE OVER THAT PERIOD OF TIME AS IT RELATES TO LOCAL SALES TAX REVENUE GENERATED FROM THE PROJECT, RIGHT? SO AS TO BE SENSITIVE TO, YOU KNOW, SALES TAX AND SPECIFIC TO BUSINESSES, WE PUT TOGETHER A FORMULA OF HOW WE COULD CALCULATE BASED ON VACANCY RATES, SALES PER SQUARE FOOT. BUT, YOU KNOW, WHEN WE VETTED THIS WITH OUR FINANCE STAFF FOR PREPARATION FOR THIS PRESENTATION, WE'VE ESTIMATED A LITTLE OVER $1 MILLION IN SALES TAX, APPLYING OUR 2% TAX RATE THAT THIS MUNICIPALITY HAS BEEN ABLE TO COLLECT FROM THIS PROJECT DURING THAT PERIOD OF TIME. OKAY, SO HOW DO WE GET TO THAT PROPOSED BUYOUT OF THE DCEDC SHARE OF APPROXIMATELY 32% OF ITS OWNERSHIP STAKE FOR THIS ENTITY? ONE OF THE FIRST THINGS THAT HAPPENED WAS, YOU KNOW, STAFF SECURED AN APPRAISAL, RIGHT. AND THEN THE THE MAJORITY OWNER, OUR PARTNER, THEY ALSO HAD AN INDEPENDENT APPRAISAL DONE. RIGHT. AND SO THIS VALUATION REPRESENTS THE MIDPOINT BETWEEN THE TWO VALUES. ONE IS HIGHER. THE ONE FROM VALVE BRIDGE CAME A LITTLE HIGHER. THE MARCUS AND MILLICHAP ASSESSMENT A LITTLE LOWER. AND SO ESTABLISHING THAT BENCHMARK VALUE OF 4.335 MILLION. THAT'S WHAT THAT
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NUMBER REPRESENTS. OKAY. AND SO THEN WHEN YOU SET UP THE TRANSACTION, HYPOTHETICALLY, IF THIS WERE SELLING THE INTEREST, BOTH PARTIES, THIS IS HOW THE, THE MATH LINES UP BASED ON THAT GROSS VALUE, THE VARIOUS OBLIGATIONS, TRANSACTION COSTS, IT'S ACTUALLY $670,000 AND NOT 695,000, BUT THE MAJORITY OWNER HAS AGREED THAT THAT WOULD BE THE BUYOUT CALCULATION AS PROPOSED. OKAY. RIGHT. AGAIN, JUST A QUICK SUMMARY. INITIAL INVESTMENT $805,000. THIS PROPOSED BUYOUT AMOUNT OF THE DC EDC SHARE. THAT WOULD GO BACK TO THE FUND BALANCE. AGAIN, WE SHOW WHAT THE CITY IS COLLECTED OVER THAT PERIOD OF TIME IN PROPERTY TAXES. AND BY THE SAME TOKEN, THE SAME THING THAT IT'S COLLECTED FOR SALES TAXES. WE JUST, YOU KNOW, DID THAT CALCULATION TO SHOW, AGAIN, JUST BASED ON THE REVENUE, NOT THE RETURN OF EQUITY, RIGHT? BECAUSE THE RETURN OF EQUITY IS ACTUALLY $0.86 ON THE DOLLAR, RIGHT? SO YOU DIDN'T WE DIDN'T WE'RE NOT RETURNING BACK THE RECAPTURING THE PRINCIPAL AMOUNT. WHAT WAS INVESTMENT? BUT IF WE FACTOR IN THE REVENUE, RIGHT, THAT THIS PROJECT HAS BEEN ABLE TO LEVERAGE OVER THE PERIOD OF TIME, THAT'S WHAT'S REPRESENTED IN THE IN THE ETERNAL INVESTMENT, RIGHT? SO INTERNAL EQUITY IS DIFFERENT. THAT'S $0.86 ON THE DOLLAR. BUT WHAT WE'VE BEEN ABLE TO LEVERAGE IN TERMS OF REVENUE FOR THE INVESTMENT, $1.3 MILLION. AND SO THAT'S WHAT'S REFLECTED IN THIS SLIDE. AND HERE'S JUST THE THE METHODOLOGY THAT WE USE TO BUILD THE CALCULATIONS YEAR BY YEAR APPLICATION OF THE RATE. AND SO THAT'S HOW YOU SEE THOSE NUMBERS TOTALED AND REFLECTED IN THE PREVIOUS SLIDES. ALL RIGHT. THIS IS THE LAST SLIDE.SO HAPPY TO TAKE SOME FEEDBACK. I KNOW WE'VE TALKED ABOUT THIS PROJECT THIS SITE OUR OWNERSHIP MANY OF TIMES IN CLOSED SESSION. BUT YOU KNOW, WE'VE BEEN TALKING WITH THE PARTNERS AND WE WANTED TO BRING THIS ITEM BEFORE YOU AND WE'RE OKAY WITH DELIBERATION, BUT WE'RE NOT NECESSARILY ASKING FOR YOU TO TAKE ACTION ON THIS TONIGHT. WE WANTED TO GET THIS OUT, PRESENT THE INFORMATION, AND THEN WE'LL BE PREPARED TO BRING THIS BACK FOR FORMAL ACTION OR CONSIDERATION FOR FORMAL ACTION ON MAY THE 18TH. BUT I WANT TO STAND FOR ANY QUESTIONS ON ANY OF THE INFORMATION THAT'S INCLUDED, EITHER IN THE PACKET OR THAT WE JUST WENT THROUGH ON THE SLIDES. ANY QUESTIONS FROM THE BOARD? ONCE GOING TWICE. OKAY. IT'S IT SEEMS AS IF THERE ARE NO QUESTIONS. IS IS, IS THE IS THE GENERAL PARTNER HERE? YOU HAVE YOU HAVE ANY WORDS OF WISDOM YOU'D LIKE TO SHARE WITH US? YOU KNOW THE DRILL. THANK YOU. NAME AND MONTE ANDERSON AT 1210 GREENLEAF. NO WORDS OF WISDOM, REALLY. I'M GLAD TO TALK OR ANSWER ANYTHING OR MAKE A COMMENT. I MEAN, I CAN I CAN JUST SAY ONE THING. WHEN? BACK WHEN THIS. YOU KNOW, I WISH IT WAS WORTH MORE, BUT IT'S NOT. AND THERE'S A GOOD REASON FOR THAT. WHEN WE FIRST BUILT IT, IT WAS $3 MILLION IT COST TO BUILD, AND IT APPRAISED FOR 1.8 MILLION. SO IT TOOK US, YOU KNOW, WE HAD A BAD LAWSUIT. WE HAD, YOU KNOW, THE PROMISES OF BUILDING MAIN STREET THAT WHEN WE BUILT MAIN STATION, WE THE WHOLE PLAN WAS TO BUILD MAIN STREET OUT AND NOTHING HAPPENED.
IT STOPPED. AND MAIN STREET, WE DID LEVERAGE JUST. YOU MIGHT. YOU ALL PROBABLY. MR. HARVEY, YOU MAY REMEMBER THIS, BUT WE GOT $2.8 MILLION GRANT FROM THE FROM THE FEDERAL TRANSPORTATION AUTHORITY FOR THE FIRST THREE BLOCKS OF MAIN STREET AND THE RAILROAD FLATS. ALSO. BOTH OF THOSE. AND DUNCANVILLE GOT 80% GRANT BACK, 80% REIMBURSEMENT BACK ON ALL THAT. SO THERE'S MORE BENEFITS TO TO THAT. NOW, THERE HAD TO BE SOME OTHER THINGS BUILT WITH THAT, WHICH IS 212 NORTH MAIN AND 111 EAST DAVIS, WHICH I DID. TWO IN PARTNERSHIP WITH YOU. SO THERE'S BEEN OTHER THINGS, BUT YOU CAN'T JUST, YOU KNOW, WE JUST NEED TO GO AHEAD AND WE NEED TO WE NEED TO DO SOME MORE. I MEAN, WE NEED TO FINISH WHAT WE STARTED. YOU KNOW, WE DIDN'T WE DIDN'T FINISH MAIN STREET. WE DIDN'T FINISH THE BIKE LANES ON DANIEL DALE. YOU KNOW, THERE'S JUST LOTS OF STUFF, YOU KNOW, AND WE'VE ALL TALKED ABOUT THAT MANY TIMES AND WE JUST NEED TO GO AHEAD AND FINISH SOME STUFF, DO SOME. AND WE DON'T HAVE TO DO IT ALL AT ONCE. IN FACT, IT'S BETTER IF WE JUST DO PIECES, INCREMENTAL PIECES ALONG THE WAY AND
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REALIZE THAT WE'RE NOT GOING TO BUILD 4 OR 5 STORY BUILDINGS HERE. IT'S GOING TO BE ONE AND TWO STORY, AND THAT'S REALLY GOOD. IN FACT, SOME OF THE BEST CITIES IN THE COUNTRY, SOME OF THE BEST URBAN CITIES IN THE COUNTRY, LIKE SOUTH BEACH, FLORIDA, AND PLACES ARE ALL ONE AND TWO STORY AND THEY'RE BEAUTIFUL. YOU KNOW, THERE'S BEAUTIFUL PLACES THAT DON'T HAVE. IN FACT, SOME OF THOSE FIVE AND SIX STORY BUILDINGS DON'T LOOK VERY GOOD DOWN IN BISHOP ARTS. YOU KNOW, SOME OF THE STUFF THAT LOOKS GOOD, IT'S ALL, YOU KNOW, LIKE TWO STORY, LIKE THE OLD GOOD URBAN. AND SO I THINK WE JUST NEED TO KEEP GOING. I MEAN, ENCINITAS, I DON'T KNOW IF YOU'VE BEEN TO ENCINITAS. IT'S GOT TO BE BEAUTIFUL. I MEAN, IT'S GOING FROM 300,000 ON THE TAX ROLLS TO 1.3 MILLION ON A LITTLE BITTY, TINY PIECE OF, YOU KNOW, THAT'S HOW A CITY GETS RICH, YOU KNOW, PRICE PER SQUARE FOOT, YOU KNOW, GOING UP. AND SO THOSE ARE THE, THERE'S LOTS OF THINGS WE CAN DO. THERE'S JUST ONE THING YOU'VE GOT TO HELP TEXAS FADES. I MEAN, THAT'S AGAIN, THAT'S GOT TO GO FROM, YOU KNOW, THAT GO FROM WAY DOWN HERE TO SOMETHING SOMETHING ABOVE, YOU KNOW, PROBABLY WILL DOUBLE, YOU KNOW, ALONG WITH OTHER THINGS. SO AND OTHER THINGS THAT, YOU KNOW, MARLIN'S WORKING ON AND Y'ALL ARE WORKING ON RIGHT NOW. SO JUST NEED TO KEEP, KEEP DOING IT ONE, ONE BLOCK AT A TIME, ONE BUILDING AT A TIME, ONE BLOCK AT A TIME, ONE, YOU KNOW, JUST KEEP DOING SOMETHING ALL THE TIME AND IT'LL, IT'LL BUILD MOMENTUM. AND, AND I THINK RIGHT NOW, Y'ALL ARE BUILDING MOMENTUM. SO I APPRECIATE THAT PART OF IT. AND BELIEVE ME, I WISH MAIN STATION WAS WORTH A WHOLE LOT MORE. AND I KNOW YOU DO TOO. BUT IT HAS PRODUCED AND IT STAYED IT STAYED OCCUPIED.YOU KNOW, IT STAYS OCCUPIED ALL THE TIME. YOU KNOW, THERE'S FOR Y'ALL THAT DON'T KNOW, THERE'S 14 APARTMENTS, 14 APARTMENTS UPSTAIRS, YOU KNOW, AND THEN 12 LITTLE BUSINESSES DOWNSTAIRS.
AND SO WE RARELY, RARELY HAVE A VACANCY THERE. SO ANYWAY, THAT'S ALL I, THAT'S ALL I KNOW.
THAT'S A QUICK HISTORY LESSON. ALL RIGHT. WELL IT'S, IT'S COME 180 DEGREES FROM THE TIME THAT I REMEMBER IN TERMS OF YOU HAVING AN OPPORTUNITY TO SHARE YOUR VISION AND THAT SORT OF THING WITH US. BECAUSE AS YOU RECALL, I, I CAME BACK IN THE BAD OLD DAYS WHEN UNFORTUNATELY, SOME OF US WERE EMBROILED IN LITIGATION WITH YOU. SO IF IF THAT ALONE COUNTS FOR SOMETHING, AT LEAST WE'RE MATURE ENOUGH NOW TO LISTEN, EVEN IF WE DISAGREE. SO MOST, MOST PEOPLE TOGETHER, MOST PARTNERS TOGETHER WOULDN'T HAVE SURVIVED THROUGH THAT. BUT WE DID.
SOMEHOW. WE DID. ALL RIGHT, WELL, I FIGURED I'D JUST GIVE YOU A LITTLE VICTORY LAP. WELL, YOU DESERVE IT TO. I WANTED TO JUST SAY, TOO, WE APPRECIATE YOUR WILLINGNESS TO WORK WITH THE CITY OF DUNCANVILLE. THERE'S NOT A LOT OF PEOPLE LINED UP TO DO WHAT YOU DO. AND THE YOUR PREMIER, THERE'S A PREMIUM ON YOUR BRAIN AS FAR AS URBAN DEVELOPMENT. SO WE APPRECIATE YOU BRINGING THAT SKILL SET. AND YOU KNOW, YOU GOTTA, YOU CAN'T, YOU GOTTA TAKE A SWING AT THE AT THE BALL. SO WE APPRECIATE THAT. THANK YOU. YES, I APPRECIATE IT.
THERE'S OTHERS THAT'LL COME. THERE'S THERE'S THEY'RE STARTING TO LOOK HERE. SO I AGREE, YOU KNOW, LIKE THERE'S OTHERS THAT ARE LOOKING. SO LET'S LET'S TAKE ADVANTAGE OF IT RIGHT NOW. WHEN YOU COME AND YOU HEAR ABOUT IT, BRING THEM THIS WAY. OH, I DO MARLINS, MARLINS, MARLINS, GREAT MARLINS. I TELL YOU THIS TOO FOR A LONG TIME. AND I'M NOT JUST BECAUSE HE'S SITTING HERE RIGHT NOW, BUT HE'S, HE'S THE HARDEST WORKING AND THE MOST REASONABLE WORKING ECONOMIC DEVELOPMENT GUY THAT'S BEEN HERE IN A LONG, LONG TIME, LONG TIME. AND HE'S, HE'S A COLLABORATOR. HE'S, HE'S ALWAYS THINKING TO FIGURING. SO YOU PROBABLY KNOW THAT THOUGH.
SO I APPRECIATE THAT. ALL RIGHT. MARCELLA TOO. SO I APPRECIATE THEY BOTH ON THOSE LAST DEALS OF BOTH. BUT I THINK WE'RE LUCKY RIGHT NOW. WE GOT TWO GOOD TWO GOOD PEOPLE. SO. ALL RIGHT. WELL WE'RE NOT GOING TO HOLD YOU. OKAY. ANY OTHER QUESTIONS OR COMMENTS FROM THE FROM THE BOARD. ALL RIGHT. THANK YOU. ALL RIGHT. SO NEXT ITEM ON THE AGENDA IS EXECUTIVE SESSION. AND I DON'T THINK WE HAVE ANYTHING THERE. SO WE'LL JUST KEEP GOING. YES. Y'ALL NEED TO MEET. NO I DON'T KNOW. NO NO. I THINK I'M GOOD. I FILIBUSTERED ENOUGH. LET'S SEE.
TAKE TAKE ANY ACTION AS A RESULT OF EXECUTIVE SESSION. NO. SO THAT BRINGS US DOWN TO THE LAST ITEM ON THE AGENDA. AND THAT IS ADJOURNMENT. SO. I'M GOING TO SAY DO WE TAKE A
[01:30:11]
MOTION OFFICIALLY ADJOURN THIS MEETING BEFORE ADJOURNMENT AT 733 A SECOND. ALL RIGHT. THANK YOU ALL SO MUCH. YOU CAN* This transcript was compiled from uncorrected Closed Captioning.