[CALL TO ORDER ]
          [00:00:05]
          GOOD AFTERNOON. WE ARE GOING TO CALL TO ORDER THE REGULAR DC EDC MEETING FOR AUGUST 24TH, 2026, AND IT IS 604 IN THE AFTERNOON. AND SO WE'RE GOING TO. CALL THIS MEETING TO ORDER. 
          AND THE FIRST ITEM ON THE AGENDA IS INVOCATION, WHICH I WILL DO. 
          OKAY. AND WITH THAT, LET'S STAND. GOD, OUR HEAVENLY FATHER, WE LIFT UP YOUR NAME IN THANKSGIVING AND PRAISE FOR THE OPPORTUNITY THAT YOU HAVE GIVEN US TO ACT ON BEHALF OF THE CITIZENS OF THIS GREAT COMMUNITY. WE RECOGNIZE YOU AS THE SOURCE OF WISDOM, AND WE ASK HUMBLY THAT YOU WOULD LEAD, GUIDE, AND DIRECT US AT EVERYTHING THAT WE DO MAY BE DONE DECENTLY AND IN ORDER. WE PRAY THAT YOU WOULD CONTINUE TO BLESS THE WORK OF US AS A POLICY BODY AND THE STAFF THAT WE MIGHT ACCOMPLISH YOUR HEART'S DESIRE FOR THIS GREAT CITY OF DUNCANVILLE. FOR THIS WE ASK IN JESUS NAME, AND FOR HIS SAKE WE PRAY, AMEN. AMEN. 
          AMEN. WOULD YOU LEAD US IN THE PLEDGES? I WILL START WITH THE PLEDGE OF ALLEGIANCE, FIRST FOR THE UNITED STATES FLAG. PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS. ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL. OKAY. AND THEN THE TEXAS PLEDGE. HONOR THE TEXAS FLAG. I PLEDGE ALLEGIANCE TO THEE. TEXAS, ONE STATE UNDER GOD, ONE AND INDIVISIBLE. THANK YOU. MAY BE SEATED. OKAY. THANK YOU, MR. GOLF. OKAY. NEXT ITEM ON THE AGENDA IS I'M GOING TO ASK MISS LANE. HAS SHE RECEIVED 
          [1. CITIZEN’S PUBLIC FORUM ]
ANY COMMUNIQUE FROM SOMEONE OUT IN THE WORLD AT LARGE THAT WOULD LIKE TO COMMENT AT THIS TIME? GOOD AFTERNOON, PRESIDENT HARVEY. YES, WE DID RECEIVE ONE PUBLIC COMMENT VIA EMAIL FROM MISS PATRICIA EBERT AT 115 SOUTH GREENSTONE LINE, DUNCANVILLE, TEXAS 75116. AND YOU EACH HAVE A COPY OF OF THE COMMENT. ALRIGHT. SO I SEE MISS EBERT IN THE AUDIENCE. AND SO WE HAVE COME TO CITIZEN'S PUBLIC COMMENT. SO IF YOU MISS EBERT OR ANYONE ELSE IN THE AUDIENCE WOULD LIKE TO MAKE A COMMENT AT THIS TIME. NO. ALRIGHT. THANK YOU. OKAY, SO 
          [2. APPROVAL OF DCEDC MEETING MINUTES ]
THAT BRINGS US TO ITEM NUMBER TWO. APPROVAL OF DCEDC, MEANING MINUTE MEETINGS. HOPEFULLY YOU HAVE HAD AN OPPORTUNITY BOARD TO REVIEW THE MINUTES. ARE THERE ANY CORRECTIONS THAT YOU FEEL NEED TO BE MADE AT THIS POINT? OKAY. WITH NO CORRECTIONS SUGGESTED. THE CHAIR AT THIS TIME WILL ENTERTAIN A MOTION TO APPROVE THE. DCEDC. JULY 27TH, 2026 MEETING MINUTES. IN MOVE IS THERE A SECOND, A SECOND? PROPERLY MOVED IN SECOND. WOULD YOU PLEASE VOTE AT THIS TIME? THANK YOU. OKAY. THANK YOU SO MUCH. OKAY. THAT BRINGS US TO 
          [3. DCEDC MONTHLY CALENDAR ]
          [00:05:07]
ITEM THREE. A THE D, C E, D C MONTHLY CALENDAR STAFF. GOOD AFTERNOON AGAIN, PRESIDENT HARVEY, BOARD EXECUTIVE ADMINISTRATIVE ASSISTANT FOR DCEDC AS WELL AS FOR ECONOMIC DEVELOPMENT. OKAY, SO OUR CALENDAR FOR SEPTEMBER, YOU HAVE A COPY OF IT. AND A COUPLE OF THINGS WE'D LIKE TO HIGHLIGHT IS THE FESTIVUS DE LAS AMÉRICAS CELEBRATION HELD ON SATURDAY THE 12TH FROM 4 TO 10 P.M. IT WILL BE HELD AT ARMSTRONG PARK. MORE DETAILS WILL BE PROVIDED BY STAFF LATER. WE HAVE ALSO. THE 2026 ECONOMIC DEVELOPMENT SALES TAX WORKSHOP ON SEPTEMBER 18TH, AND THIS WILL BE A WORKSHOP PROVIDED IN RICHARDSON, TEXAS, AND THIS IS AVAILABLE TO ALL OF OUR BOARD MEMBERS REGARDING SALES TAX FOR THE CITIES. IF YOU'D LIKE TO ATTEND, PLEASE LET ME KNOW BY FRIDAY, SEPTEMBER 4TH, AND I WILL MAKE SURE THAT WE GET YOU RESERVED FOR THAT EVENT. WE ALSO HAVE UPCOMING. ON OCTOBER 8TH IS OUR LEADERSHIP SOUTHWEST CONFERENCE HELD AT THE HILTON GARDEN, AND IT WILL BE FROM 9 A.M. UNTIL 2 P.M. IF YOU'D LIKE TO ATTEND THIS EVENT, PLEASE LET ME KNOW. NO LATER THAN SEPTEMBER 11TH. AND THAT'S ALL I HAVE FOR THE CALENDAR THIS MONTH. OKAY, BOARD ANY QUESTIONS ABOUT THE CALENDAR? OKAY. ALL RIGHT. THAT BRINGS US TO AGENDA ITEM NUMBER FIVE, WHICH IS THE DIRECTOR'S REPORT. 
          MR. GOFF, YOU'RE ON DECK. OH, I SKIPPED OVER THAT. THANK YOU. THANK YOU SIR. SORRY ABOUT THAT. 
          [4. BOARD MEMBER REPORTS ]
MY APOLOGIES. BOARD. DO YOU ANY OF YOU HAVE ANY BOARD INFORMATION THAT YOU WOULD LIKE TO SHARE WITH US AT THIS TIME? NO, I DO. OKAY. WELL, BOARD MEMBER TANYA SAVAGE AND I ATTENDED THE. WHAT WAS IT, THE BOARD AND COMMISSIONS FAIR. AND SO THERE WAS A GREAT TURNOUT. 
          OUR GIVEAWAYS WERE A HIT. SO WE HAD. SO WE HAD SOME QUIZZES AND INFORMATION. SO IT WAS A GOOD TIME AND GOOD TO SEE ALL THE PEOPLE OUT COME OUT TO SUPPORT THAT EVENT. AND IT WAS ALSO NICE TO ATTEND THE BEST SOUTHWEST LEGISLATIVE BREAKFAST. THOSE ARE WINDING DOWN. AND SO IT WAS GOOD TO SEE OTHER MEMBER CITIES PRESENT AND TO SEE THE ALSO THE BUSINESSES AND CORPORATIONS THAT SUPPORT THE BEST SOUTHWEST AND ALL OF ITS ECONOMIC DEVELOPMENT EFFORTS, AS WELL AS HERE, THE SPEAKERS EACH WEEK. AND THEY WERE REALLY. I WAS PLEASANTLY SURPRISED TO HEAR THE INFORMATION AS THEY DISCUSSED THE IMPACT AND OF THE. WHAT WE CAN DO TO WORK TOGETHER IN THE BEST SOUTHWEST AREA. SO THAT WAS VERY NICE. ALL RIGHT. SO THANK YOU, LADIES FOR ATTENDING AND GIVING OUT ALL THOSE WONDERFUL GIVEAWAYS. I'M SURE THEY'RE THE TALK OF THE TOWN. OKAY. ALL RIGHT. NOW NEXT ITEM ON THE AGENDA IS MR. GOLF. GOOD EVENING, BOARD MEMBERS. 
          [5. DIRECTOR'S REPORT ]
STAFF. MR. HAGER. GOOD TO SEE EVERYONE. I'LL BE BRIEF. DIRECTOR'S REPORT. WE'LL START US OFF. MISS LANE MENTIONED AN UPCOMING WORKSHOP SESSION FOR. IT'S THROUGH THE TEXAS ECONOMIC DEVELOPMENT COUNCIL. THEY WILL HAVE FROM TIME TO TIME SESSIONS IN NORTH TEXAS. SO THAT'S ONE THAT WE THOUGHT DEFINITELY. IF YOU GUYS ARE INTERESTED, WE'RE MORE THAN HAPPY FOR YOU TO GO WITH US TO TAKE PART IN THAT WORKSHOP. BUT AS IT RELATES TO CLOSER TO HOME, INCLUDED IN THE AGENDA PACKET IN YOUR MONTHLY REPORTS THAT WE SENT OUT, AGAIN, YOU'LL RECOGNIZE THIS EXHIBIT. 
          [00:10:05]
SO FOR THE SAME REPORTING PERIOD THIS TIME LAST YEAR, WE'RE SHOWING ALMOST A 0.6% NET CHANGE OVER YEAR. AND THEN OBVIOUSLY YOU CAN SEE KIND OF THE HOW THE SALES TAX HAS BEEN PERFORMING OVERALL. AND SO THIS IS REPRESENTATIVE OF THE FULL 2% THAT CITY COLLECTS. YOU KNOW, ON A DIFFERENT PAGE OF YOUR REPORT, YOU CAN SEE KIND OF THE BREAKOUT WITH THE CORPORATIONS ALLOCATION. AND SO AGAIN, THIS IS JUST SHOWING KIND OF WHAT THAT'S LOOKED LIKE OVER THE PERIOD OF THE FISCAL YEAR TO DATE, RIGHT? SIMILAR TO LAST TIME, BUT NOT AS MANY. A COUPLE OF UPDATES ON A FEW SITES. SO LET'S START WITH 727 SOUTH COCKRELL HILL. THIS TIME LAST YEAR, THAT PROPERTY WAS UNDER CONTRACT WITH THE FRANCHISEE FOR ATO. YOU KNOW, WE'VE TALKED ABOUT THIS, YOU KNOW, EARLIER THIS YEAR THAT THAT FRANCHISEE IS NO LONGER AT THE TABLE. 
          HOWEVER, WE HAVE HAD SOME FRUITFUL NEGOTIATIONS WITH THE NEW FRANCHISEE. WE'VE GOT A PROPOSAL AS OPPOSED TO SITE ACQUISITION. IT'S GOING TO BE MORE OF A GROUND LEASE STRUCTURE. AND SO WE ANTICIPATE BRINGING THAT BACK BEFORE THIS BOARD AT A MEETING HERE SOON FOR YOUR CONSIDERATION DISCUSSION. SO THAT'S THE UPDATE ON 727 SOUTH COCKRELL HILL, A PROJECT THAT WAS AUTHORIZED EARLIER THIS YEAR. 918 HIGHWAY 67. RIGHT. WE'RE SHOWING HERE THE IMAGE OF THE TWO VACANT PARCELS. SO JUST WE'LL SAY JUST SOUTH OF THE EMPIRE RESTAURANT BUFFET THAT OPENED EARLIER THIS YEAR. AND THEN, YOU KNOW, A LITTLE SOUTHWEST OF THE BEST WESTERN HOTEL PROPERTY. PROPOSED USE CHAPTER 380 AGREEMENT TO REBATE THE SALES TAX GENERATED AT THIS SITE. I WILL SAY WE SPOKE WITH WELL, I'M I'M MEETING WITH THE DEVELOPER LATER THIS WEEK. WE SPOKE WITH THE CORPORATION AT ICS EARLIER THIS YEAR. 
          BOJANGLES. YOU KNOW, THERE ARE SOME ONGOING DISCUSSIONS. THEY STILL DO NOT HAVE THAT END USER UNDER CONTRACT. AND SO I'M HOPING TO HAVE SOME MORE UPDATES ON ULTIMATELY WHO THAT END USER WILL OR WILL BE. SO WE'LL AGAIN BRING THAT BACK FORWARD JUST FOR FOR SUBSEQUENT UPDATES. BUT NO, IT'S BEEN A WHILE SINCE THAT PROJECT HAS BEEN IN FRONT OF US. SO JUST WANTED TO DO A QUICK UPDATE OR REFRESH ON WHAT'S HAPPENING ON THOSE TWO PROJECTS. OKAY. STAND FOR ANY QUESTIONS. THANK YOU. ALL RIGHT. THANK YOU, MR. GOLF. OKAY. THAT BRINGS US TO ITEM NUMBER SIX, THE CONSENT AGENDA. AND I DO NOT BELIEVE WE HAVE ANY ITEMS ON CONSENT AGENDA. 
          MARCY AGREES. SO WE'RE GOING TO GO TO ITEM NUMBER SEVEN. BRIEFINGS AND PRESENTATIONS. 
          [7.A.   Staff Briefing on Festival de las Americas event scheduled for  September 12, 2026.]
AND THIS IS SEVEN A STAFF BRIEFING ON FESTIVAL DE LAS AMÉRICAS EVENT SCHEDULED FOR SEPTEMBER 12TH, 2026. ORIGINALLY SCHEDULED TO BE PRESENTED BY DEVIN HANLEY. BUT WE HAVE THE TEAM TONIGHT. YES, WE GOT THE ASSISTANT CITY MANAGER PITCHING IN. YEAH. ALL RIGHT. GOOD EVENING EVERYBODY. GLAD TO BE HERE. MARK RAUSCHER, ASSISTANT CITY MANAGER WITH DUNCANVILLE. AND SO I'M PINCH HITTING FOR DEVIN TONIGHT WHO WASN'T ABLE TO BE HERE. AND SO I'LL BRIEFLY RUN RUN THROUGH HER PRESENTATION. AS YOU ALL KNOW, THE THE THE CITIES OF CEDAR HILL AND DUNCANVILLE AND DESOTO ROTATE THE BEST SOUTHWEST EVENT. AND SO LAST YEAR IN 2025, WE HELD IT. YOU CAN SEE HERE WE HAD ABOUT 8200 THROUGHOUT THE 8200 PEOPLE IN ATTENDANCE THROUGHOUT THE DURATION OF THE OF THE EVENT THAT DAY. AT ITS PEAK, IT WAS ABOUT 4200. AND I'VE GOT A GRAPH HERE IN A LITTLE BIT THAT ILLUSTRATES THAT. BUT THIS YEAR, SEPTEMBER 19TH, CEDAR HILL WILL BE HOSTING THE BEST SOUTHWEST EVENT AT VALLEY RIDGE PARK. YOU CAN SEE THERE BETWEEN 5 AND 10 P.M. SO THIS YEAR, THE PLAN IS FOR DUNCANVILLE TO HOST FESTIVAL DE LAS AMÉRICAS, AND THAT'LL BE HELD ON SATURDAY, SEPTEMBER THE 12TH. THERE ARE SOME CONFLICTS THAT DAY. MOST NOTABLY, THAT'S WHEN DUNCANVILLE HIGH SCHOOL FOOTBALL IS SUPPOSED TO TAKE ON DESOTO AT 11 A.M. AT THE COTTON BOWL FOR A PARK. AND SO THE BAND AND, YOU KNOW, ALL THE ALL THE PARENTS AND SO ON AND SO FORTH WILL ALL BE IN DALLAS AT THE COTTON BOWL. AND SO WE WE HAD SOME CONCERNS ABOUT TRYING TO HOST A PARADE. NORMALLY A PARADE ACCOMPANIES THIS EVENT, BUT WE WERE CONCERNED ABOUT TRYING TO TO HOLD THE PARADE 
          [00:15:02]
WHEN, YOU KNOW, THE BAND AND EVERYBODY'S OUT OF TOWN IN DALLAS FOR THE FOOTBALL GAME. 
          SO WE ARE NOT GOING TO HAVE A PARADE THIS YEAR. BUT, YOU KNOW, THERE WILL STILL BE A PARADE AT THE BEST SOUTHWEST EVENT IN CEDAR HILL THE FOLLOWING WEEK ON THE ON THE 19TH. SO OUR EVENT, FESTIVAL DE LAS AMÉRICAS AGAIN, IT'LL BE HERE AT ARMSTRONG PARK. THERE WILL BE A DEDICATED AREA FOR VIP MEMBERS TO PARK AND THERE WILL ALSO BE A TENT FOR FOR VIP ACCESS, WHERE THERE WILL BE PLENTY OF CATERED FOOD AND BEVERAGES. HERE'S A LISTING OF THE PERFORMERS THAT WILL WILL BE ON HAND THAT DAY. THE HEADLINER WILL BE THE EASY BAND, AND THEN WE'LL ALSO HAVE APPEARANCES FROM THE DUNCANVILLE ISD SPANISH CLUB, MARIACHI LAS ALTAS, AND THEN BALLET FOLKLORICO, AS WELL AS DAIRY EL AMANTE. UNFORTUNATELY, J. PEREZ WILL NOT BE WILL NOT BE ABLE TO ATTEND. HE'S GOT A CONFLICT THAT'S COME UP AND WILL NOT BE ABLE TO BE HERE ON SEPTEMBER 12TH. SO AS FAR AS WORKING WITH SOME OF OUR LOCAL BUSINESSES, VENDOR APPLICATIONS WILL BE ACCEPTED THROUGH SEPTEMBER 5TH TO BE ABLE TO BE A VENDOR AT AT OUR EVENT ON SEPTEMBER 12TH, FOOD TRUCK VENDOR APPLICATIONS ARE CURRENTLY BEING ACCEPTED AND YOU HAVE UNTIL THIS WEDNESDAY, AUGUST 26TH. TO GET THOSE APPLICATIONS IN. YOU CAN SEE THE REGISTRATION CODE THERE FOR DUNCANVILLE BUSINESSES BEING DE VILLE. RIGHT NOW, WE HAVE A TOTAL OF 12 LOCAL BUSINESSES THAT ARE REGISTERED FOR THE VENDOR MARKET. YOU KNOW, WITHIN OUR QUAD CITIES HERE OF OF THE BEST SOUTHWEST. SO WE'RE ALSO BUSY PROMOTING THE EVENT ON SOCIAL MEDIA, AS WELL AS THROUGH OUR LOCAL KIOSKS OUT FRONT, AS WELL AS SOME TV SPOTS. 
          WE'RE ALSO HAVE BEEN PROVIDING POSTERS TO VARIOUS LOCAL BUSINESSES IN ORDER TO HELP SPREAD THE WORD, ALONG WITH SOME SOME OTHER LOCAL NEWS OUTLETS. HERE'S A LISTING OF JUST SOME OF THE VARIOUS EVENTS THAT WILL BE BE IN PLACE HERE AT ARMSTRONG PARK ON SEPTEMBER 12TH, YOU'LL HAVE THE NERF NERF WAR GAME AREA VIDEO GAME TRUCK. A LOT OF KIDS ALWAYS ENJOY. OF COURSE, THE SPLASH PAD IS IS ALREADY THERE, AND THEN WE'LL HAVE A WIDE ASSORTMENT OF MOBILE FOOD VENDORS, FACE PAINTING, AND PHOTO OPPORTUNITIES FOR FOR THE PUBLIC, THIS IS THE THE GRAPHIC THAT I MENTIONED EARLIER, THIS, THIS JUST KIND OF SHOWS THE ATTENDANCE FROM LAST YEAR'S BEST SOUTHWEST EVENT IN ARMSTRONG PARK. AND YOU CAN SEE THE PEAK WAS PROBABLY IN THAT 8:00 HOUR WHERE WE HAD ABOUT 4200 PEOPLE HERE ON, ON HAND IN THE IN THE PARK. ALSO THIS YEAR WE WILL BE DOING A, AN EVENT SURVEY. IT'LL IT'LL OPEN ON SEPTEMBER 12TH, THE DAY OF THE EVENT. AND WE DEFINITELY WANT CITIZENS, ATTENDEES, VENDORS, SO ON AND SO FORTH TO FILL OUT THE EVENT SURVEY THAT THAT HELPS US WITH, WITH HOW WE CAN IMPROVE WITH FUTURE EVENTS IN TERMS OF PLANNING AND BUDGETING AND EVENT PROGRAMING. SO DEFINITELY WE'LL, WE'LL HAVE THAT SURVEY OPEN AND WE'LL ENCOURAGE EVERYBODY TO FILL THAT OUT. AND THEN WE'LL, WE'LL COME BACK TO YOU AT A LATER DATE TO PROVIDE YOU WITH, WITH THE SURVEY RESULTS FROM THAT EFFORT. SO WITH THAT, THAT'S THE LAST SLIDE. I'D BE HAPPY TO TAKE ANY ANY QUESTIONS THAT YOU MIGHT HAVE THIS EVENING. ANY QUESTIONS FROM THE BOARD. OKAY. 
          THANK YOU. WONDERFUL PRESENTATION. THANK THANK YOU, THANK YOU. ALRIGHT. THANK YOU TO DEVIN FOR OBVIOUSLY PUTTING ALL THAT TOGETHER. SO. ALRIGHT. ALRIGHTY. MAKE SURE YOU TELL HIM WE'LL DO ALRIGHT. THANK YOU. OKAY, SO THAT BRINGS US TO EIGHT A PUBLIC HEARING, CONDUCT 
          [8.A.   Conduct a public hearing to consider revised and amended terms  for a restated economic development incentive agreement  between the Duncanville Community and Economic Development  Corporation (DCEDC) and Hajoca Corporation dba Moore Supply  Co. ]
A PUBLIC HEARING TO CONSIDER REVISED AND AMENDED TERMS FOR A RESTATED ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE DUNCANVILLE COMMUNITY AND ECONOMIC DEVELOPMENT CORPORATION. D, C, EDC AND. A JOKER, A JOKER CORPORATION DBA MORE SUPPLY COMPANY WILL HAVE A PRESENTATION BY STAFF. PRESIDENT HARVEY, WOULD YOU LIKE TO OPEN THE PUBLIC HEARING? YES, I WOULD, THANK YOU. SINCE YOU GAVE ME THE CHANCE, I WOULD LIKE TO OPEN THE PUBLIC HEARING AT 624. GOOD EVENING, PRESIDENT HARVEY BOARD. MARCELLA PEREZ, ECONOMIC DEVELOPMENT MANAGER HERE TO PRESENT TO YOU THIS ITEM EIGHT A REGARDING AMENDED TERMS FOR THE RESTATED 
          [00:20:05]
CORPORATION DOING BUSINESS AS MORE SUPPLY ECONOMIC INCENTIVE AGREEMENT. SO JUST TO COVER A LITTLE BIT OF BACKGROUND, THIS IMAGE HERE DEPICTS THE PARCELS, THE LAND, THE BUILDINGS THAT ARE INVOLVED IN THIS INCENTIVE. THIS IS RIGHT OFF OF HIGHWAY 67. SO IT IS A KEY LOCATION FOR OUR INDUSTRIAL AREA. AND THIS IS PART THIS IMAGE IS A PART OF EXHIBIT A, WHICH WILL BE INCLUDED WITH THE AMENDED AND RESTATED INCENTIVE AGREEMENT. SO THIS IS 626 CREST SIDE DRIVE. 
          THIS IS THE NEW RETAIL STOREFRONT AND EXPANDED WAREHOUSE THAT WAS COMPLETED BY HIJIOKA DURING PHASE TWO. IT IS NOW COMPLETE, OPEN TO THE PUBLIC. AND JUST SOME SLIDES HERE THAT WILL SHOW YOU THE INTERIOR OF THE WAREHOUSE STAFF AND ASSISTANT CITY MANAGER RAUSCHER HAVE HAD THE OPPORTUNITY TO TOUR THAT FACILITY. IT'S VERY IMPRESSIVE. 
          I WILL ALSO MENTION THAT HERE TONIGHT WE HAVE MORE SUPPLY. REPRESENTATIVE MR. CORY BUGAY, IF HE WILL BE AVAILABLE FOR QUESTIONS AT THE END. SO THIS IS JUST SOME ADDITIONAL PHOTOS. 
          HERE'S A PICTURE OF STAFF INSIDE THEIR NEW RETAIL STOREFRONT. VERY NICE, VERY MODERN, WELCOMING. AND JUST TO NOTE THERE. SO WITH THE, THE PROJECTS, THE IMPROVEMENTS THAT HAVE ALREADY BEEN MADE TO THE PROPERTY, THEY HAVE ALMOST DOUBLED THEIR STAFF. SO FROM 13 TO 23 AS OF TODAY. AND THAT WAS AT THE TIME OF THE INITIAL INCENTIVE AGREEMENT. THIS IS THE PICTURE OF THE PREVIOUS RETAIL STOREFRONT, WHICH IS NOW GOING TO BE INCORPORATED INTO PHASE THREE. AND THAT ADDRESS IS 639 EAST HIGHWAY 67. SO THIS IS JUST A SAMPLE OF WHAT THEY ARE TRYING TO ACCOMPLISH. THE END RESULT FOR THEIR NEW SHOWROOM, WHICH AGAIN, WILL TAKE THE PLACE OF THE EXISTING BUILDING THAT WAS THERE THAT WAS PREVIOUSLY USED AS A RETAIL STOREFRONT. THIS IS SOME RENDERINGS OF THE ELEVATIONS AS WELL AS THE UPGRADES OR THE ADDITIONAL ITEMS, IMPROVEMENTS THAT WILL BE MADE AS A PART OF THE IMPROVED PHASE THREE UPGRADED. THEY WILL BE. PREVIOUSLY, THEY HAD PLANNED TO JUST REMODEL THEIR EXISTING SPACE. HOWEVER, THEY FOUND IT'S JUST NOT FEASIBLE AND IT'S BETTER FOR THEM TO DEMO BECAUSE THERE ARE DIFFERENT ELEVATIONS THROUGHOUT THE BUILDING. SO THAT'S ONE REASON THEY'RE GOING TO HAVE TO COMPLETELY DEMO THAT. THE FRONT HALF OF THE BUILDING LOCATED HERE, AND EXPAND. I KNOW IT'S A LITTLE SMALL TO READ. THEY'RE GOING TO HAVE TO EXPAND THE BUILDING SLAB, AND THEY'RE ALSO DEMOING THE EXISTING PARKING TO CREATE THOSE SPACES, AS WELL AS DEMOING HERE FOR ADA COMPLIANT OR HERE IN PARKING. SO THIS IS A BREAKDOWN OF THE INVESTMENT BEING MADE BY HAJDUCKA. THE PROPOSED INVESTMENT, INITIALLY, WHEN THE INCENTIVE AGREEMENT WAS BROUGHT TO THE DC EDC BACK IN 2023, WAS 3.25 MILLION. HOWEVER, THEIR ACTUAL INVESTMENT YOU'LL SEE THERE HAS ACTUALLY TURNED OUT TO BE 4.72 72 MILLION, WHICH IS AN INCREASE OF OVER 45% OF WHAT THEY INITIALLY HAD INTENDED TO INVEST. THE ORIGINAL GRANT CEILING WAS THE TOTAL FOR THE AWARD. THE INCENTIVE WAS $434,405. BUT WE ARE BRINGING BEFORE THE BOARD TONIGHT AN AMENDED GRANT CEILING OF $631,350. SOME ADDITIONAL DATA FOR YOU. UNDER THE PROJECT PHASES, YOU CAN SEE PHASE ONE. THIS IS A BREAKDOWN. THESE DESCRIPTIONS HERE ARE PROVIDING WHERE EXACTLY THEY HAVE INVESTED ADDITIONAL ABOVE BEYOND PHASE TWO. PHASE ONE. THEY ACTUALLY CAME IN AT BUDGET. PHASE TWO IS WHERE THEY WENT OVER. THEY INVESTED MORE ABOVE AND BEYOND. THEY ADDED A RACKING EQUIPMENT AND DATA. SO 
          [00:25:01]
THAT WAS NOT INCLUDED, BUT IT WAS AN ADDITIONAL EXPENSE FOR THEM. AND ADDITIONALLY FOR PHASE THREE, AGAIN, AS MENTIONED BEFORE, THEY HAD INITIALLY PLANNED TO JUST REMODEL THE EXISTING BUILDING, BUT THEY ARE NOW GOING TO DEMO AND PRODUCE THAT NEW AND IMPROVED STRUCTURE AS THAT WAS SHOWED THE EXAMPLE FOR THAT RETAIL, NEW RETAIL STOREFRONT. 
          SO YOU'LL SEE THERE, EXCUSE ME THERE. TOTAL PRIVATE INVESTMENT. AND THEN IN ADDITION TO THE ADDITIONAL AMOUNTS THAT THEY HAVE ALREADY SPENT. SOME KEY AMENDMENT TERMS. SO THE NEW GRANT TOTAL WILL INCREASE FROM $434,405 TO 631 350. IT'S IMPORTANT TO NOTE THAT THAT 13.38% OF THE PROJECT INVESTMENT. THERE WAS A REVISION, AGAIN TO THE PROJECT SCOPE FOR PHASE THREE, WHICH WILL INCLUDE NEW BUILDING CONSTRUCTION AND FINISH OUT THE UPDATE TO THE DISBURSEMENT SCHEDULE, WHICH IS AMENDING THE PHASE THREE DEADLINE FOR THE PROJECT COMPLETION, GIVING THEM UNTIL SEPTEMBER 1ST, 2027. AND THEN MR. ATTORNEY HAGER DID WRITE IN ALLOWANCE FOR AN EXTENSION DUE TO ANY CONSTRUCTION DELAYS THAT MAY OCCUR. AS WE KNOW IN THIS LINE OF WORK, THAT IS COMMON, THE ALSO UPDATING THE DISBURSEMENT SCHEDULE IN REGARDS TO THE 50% RETAINAGE FOR GRANTS ONE AND TWO. SO IN THIS INCENTIVE AGREEMENT, THEY BUILT IN MORE SUPPLIER. HER CORPORATION RECEIVED 50% OF GRANTS ONE AND TWO. THE ADDITIONAL 50% OF EACH GRANT WAS TO BE GIVEN WITH COMPLETION OF PHASE THREE. SO WE'RE JUST UPDATING THAT DISBURSEMENT SCHEDULE WITH THE AMENDMENT WITH THE RESTATED AND AMENDED AGREEMENT TO FOR THE ADDITIONAL 50% TO BE RELEASED WITH THE. CERTIFICATE OF OCCUPANCY FOR THE THE FINISHED PHASE THREE, THEN ALSO REVISED IS, OF COURSE, THE REVISION TO THE REMAINING BALANCE AT THE TIME OF PHASE THREE, BASED ON THE NEW GRAND TOTAL. 
          ADDITIONALLY, THE LEGAL DEFINITIONS FOR TRUCKS A AND C WERE REVISED AS THOSE PARCELS HAVE BEEN REPLOTTED SINCE THE TIME THAT THE INITIAL INCENTIVE WAS AWARDED. SO THOSE REVISIONS. 
          PHASE TWO WAS ULTIMATELY CARRIED OUT. THERE'S ALSO, IN ADDITION TO THE LEGAL DESCRIPTIONS, THE PHASES SHIFTED. SO WHAT WAS ORIGINALLY GOING TO BE PHASE TWO WITH TRACT A INSTEAD WAS CARRIED OUT WITH TRACT B, AND THEN PHASE THREE WILL BE ASSOCIATED WITH TRACT B INSTEAD OF TRACT A, AND TO GIVE YOU A VISUAL OF THAT. SO PHASE ONE WAS ACTUALLY TRACK C, THEY MADE SOME IMPROVEMENTS TO THE PARK, THEIR STORAGE, THE CONCRETE AREA THERE ON THE SLAB. 
          THEN PHASE TWO WAS CARRIED OUT WITH TRACT A WITH THEIR NEW STOREFRONT AND WAREHOUSE, AND THEN TRACT B WILL BE PHASE THREE WITH THE NEW AND IMPROVED STOREFRONT AND RETAIL SHOWROOM. 
          QUESTION. ANY QUESTIONS FROM THE BOARD FOR STAFF? OKAY. A REPRESENTATIVE OF THE COMPANY IS HERE. WE'D LIKE TO CALL HIM UP AND IF THERE ARE ANY QUESTIONS FOR HIM. HELLO, MY NAME IS COREY BOUQUET. I'M AT FIVE BROOKWAY COURT WITH MORE SUPPLY. I'M HERE TO ANSWER ANY QUESTIONS YOU MAY HAVE. OKAY. WELL, APPARENTLY WE HAVE NO QUESTIONS FOR YOU, BUT I WOULD LIKE TO TAKE A MOMENT TO THANK YOU AND FOR YOUR COMMITMENT TO DUNCANVILLE AND BELIEVING IN THIS COMMUNITY AND. MAKING THE INVESTMENT THAT YOU ALL ARE MAKING. WE ARE HAPPY TO PARTNER WITH YOU AND. I THINK THAT'S IT. THANK YOU FOR THE OPPORTUNITY. ALL RIGHT. THANK YOU. OKAY. SO SINCE THERE ARE NO QUESTIONS, I THINK IT WOULD BE APPROPRIATE AT THIS TIME FOR THE CHAIR TO ENTERTAIN A MOTION. NO. I'M SORRY. THANK YOU. IS THERE ANY. YEAH, I'M I'M I HEAR YOU. I 
          [00:30:08]
HEAR YOU, COUNSELOR, I HEAR YOU. SO AT THIS TIME, WE IF THERE'S ANY MEMBER OF THE PUBLIC THAT WOULD LIKE TO SPEAK FOR OR AGAINST THIS ITEM, WOULD YOU COME UP, STATE YOUR NAME AND YOUR ADDRESS FOR THE RECORD. AND YOU HAVE TWO MINUTES. OKAY. WE HAVE NO PUBLIC COMMENTS. SO I BELIEVE THAT NOW. WE CAN MOVE FORWARD AS A BOARD, AND THE CHAIR WILL ENTERTAIN A MOTION FOR OR AGAINST THIS PARTICULAR ITEM ON THE AGENDA. MR. HARVEY, MR. PRESIDENT, YOU NEED TO CLOSE THE PUBLIC HEARING. YOU CAN DO IT BY CHAIR, DECLARATION OR VOTE. YOUR CHOICE. THANK YOU. 
          ATTORNEY. YOU YOU ALWAYS WONDERFUL GUARDRAILS FOR MR. HARVEY. THANK YOU. OKAY, SO WE WILL CLOSE THE PUBLIC HEARING AT 635. THEN AS A RESULT OF THAT, YOU CAN THEN MOVE TO AGENDA ITEM NINE A. SO AS A RESULT OF THAT, WE WILL MOVE TO AGENDA ITEM NINE A AND IT READS 
          [9.A.   Discuss and consider approval of revised and amended terms for  a restated economic development incentive agreement between  the Duncanville Community and Economic Development  Corporation (DCEDC) and Hajoca Corporation dba Moore Supply  Co. ]
DISCUSS AND CONSIDER APPROVAL OF REVISED AND AMENDED TERMS FOR A RESTATED ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE DUNCANVILLE COMMUNITY AND ECONOMIC DEVELOPMENT CORPORATION. D, C, E, D, C AND HEYOKA CORPORATION DBA MORE SUPPLY COMPANY. WOULD ANYONE ON THE BOARD LIKE TO. MAKE A POINT? TO DISCUSS. ALL MINDS CLEAR. OKAY, NOW I THINK THE CHAIR CAN ENTERTAIN A MOTION FOR OR AGAINST THIS ITEM ON THE AGENDA. MR. HARVEY, I'D LIKE TO MOVE THAT WE APPROVE THE REVISED AND AMENDED TERMS FOR REINSTATED ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE DUNCANVILLE COMMUNITY AND ECONOMIC DEVELOPMENT CORPORATION AND JOJOBA CORPORATION, DBA, MORE SUPPLY COMPANY, AS PRESENTED. 
          THANK YOU. THERE IS A MOTION ON THE FLOOR. IS THERE A SECOND? SECOND. PROPERLY MOVED AND SECONDED. ANY QUESTIONS BEFORE WE VOTE? OKAY. LET'S VOTE. THANK YOU. BOARD. IT IS UNANIMOUS. THAT BRINGS US TO ITEM TEN. OTHER BUSINESS. DISCUSS AND CONSIDER APPROVAL 
          [10.A.   Discuss and consider approval of the Redemption of Partnership  Interest Agreement between the Duncanville Community &  Economic Development Corporation and Main Station  Duncanville, Ltd., pursuant to which the DCEDC's economic  interest in the Partnership will be redeemed for a Redemption  Price of $695,000.00, and authorize the DCEDC President to  execute the Agreement and all related documents. ]
OF THE REDEMPTION OF PARTNERSHIP INTEREST AGREEMENT BETWEEN THE DUNCANVILLE COMMUNITY AND ECONOMIC DEVELOPMENT CORPORATION AND MAIN STATION, DUNCANVILLE LIMITED, PURSUANT TO WHICH THE DCEDC ECONOMIC INTEREST IN THE PARTNERSHIP WILL BE REDEEMED FOR A REDEMPTION PRICE OF 695,000 AND AUTHORIZED THE DCEDC PRESIDENT TO EXECUTE THE AGREEMENT AND ALL RELATED DOCUMENTS. STAFF, THANK YOU AGAIN. MEMBERS OF THE BOARD. 
          MARLON GOUGH, ECONOMIC DEVELOPMENT DIRECTOR YEAH, AS STATED, AGENDA CAPTION THIS IS THIS ACTION ITEM IS RELATED TO THE ENTITY KNOWN AS MAIN STATION DUNCANVILLE, WHICH IS A LIMITED PARTNERSHIP. THE ADDRESS IS 100 SOUTH MAIN. WE KNOW IT AS THE TWO STORY MIXED USE ANCHOR PROJECT AT THE INTERSECTION OF MAIN AND CENTER STREET. THE CDC HAS STATED AGAIN HOLDS A OWNERSHIP INTEREST OF 32% IN THIS PROJECT. THAT PERCENTAGE OF INTEREST WAS BASED ON INITIAL INVESTMENT INTO THE PROJECT. BASED ON THE MARKET CONDITIONS AND THE PROPOSAL, WHAT WE REFER TO AS A PUBLIC PRIVATE PARTNERSHIP BACK IN 2003, AND THIS IS WHAT THAT INVESTMENT WAS APPLIED TOWARDS AS IT RELATES TO THIS PROJECT, AND THIS IS HOW THE PROJECT HAS 
          [00:35:05]
PERFORMED RIGHT OVER THAT TWO DECADES. WE KNOW WHAT THE INVESTMENT WAS AT THE TIME AND WHAT IT WAS FOR. BUT HERE'S WHAT HAPPENED. WHAT'S HAPPENED TO THE LOCAL ECONOMY, AT LEAST IN TERMS OF THE MUNICIPAL ENTITIES WE SHOW ON THE FAR LEFT ALL OF THE TAXING ENTITIES RIGHT, THAT CHARGE A PROPERTY TAX LEVY AGAINST THIS PROPERTY. WE'VE ALL COLLECTED $1.2 MILLION IN TERMS OF THE CITY'S 2% INTEREST RATE APPLIED TO TAXABLE SALES. THAT TRANS EXCUSE ME, THE CITY'S INTEREST RATE IN TERMS OF THE AD VALOREM LAND IMPROVEMENT VALUE, A LITTLE OVER $300,000 OVER THAT SAME PERIOD. AND THEN LASTLY, THE CITY'S 2% SALES TAX, RIGHT. 
          AND AGAIN, THIS IS A FORECAST BASED ON, YOU KNOW, WE USE THE FORMULA. I WORK WITH OUR FINANCE DEPARTMENT. REALLY THE INTENT WAS TO ILLUSTRATE AGAIN HOW THE PROJECTS PERFORMED. OF COURSE, THE SALES TAX OF INDIVIDUAL BUSINESSES AND LOCATIONS IS IS CONFIDENTIAL. 
          AND SO WHAT WE DID WAS WE PUT IN OCCUPANCY RATE AND APPLIED AGAIN, SALES TAX PER FOOT OVER TIME TO GIVE A REPRESENTATIVE VALUE OF WHAT WE BELIEVE. AND IT'S PRETTY CLOSE TO WHAT THE NUMBERS SHOW OVER TIME. AND SO HOW DO WE GET THEN TO THE PROPOSED ASSIGNMENT OF INTEREST, RIGHT. THE VALUE OF OUR REDEMPTION. WELL, HERE'S HOW WE GOT HERE, RIGHT? THE PARTNERS OF WHICH WE ARE LIMITED REPRESENTATIVE WITH THE GENERAL PARTNER, WE APPLIED A NET PRESENT VALUE APPROACH AS IF THIS WERE GOING TO BE SET UP AS A TRANSACTION OF THE MARKET. 
          AND, AND SO WE BOTH HAD INDEPENDENT APPRAISALS DONE RIGHT. THE CORPORATION PAID FOR ITS OWN APPRAISAL AS A LIMITED PARTNER. THE GENERAL PARTNER PAID FOR AN APPRAISAL. THEY WERE DIFFERENT. WE AGREED TO MEET IN THE MIDDLE. RIGHT. SO THAT $4.335 MILLION REPRESENT THAT HAPPY MEDIUM LANDING SPACE. AND THEN FROM THERE, WE SEE THE LINE ITEMS THAT, YOU KNOW, WOULD, IN THEORY AGAIN, BE DEDUCTED AS THIS TRANSACTION WERE HAPPENING, OPEN MARKET, NET PRESENT VALUE, ALL OF THOSE FACTORS. AND SO IT'S ACTUALLY 670 000 REALLY REPRESENTS THE SHARE. BUT AGAIN, THE NEGOTIATED REDEMPTION PRICE IS A LITTLE BIT MORE THAN THAT SLIGHTLY $695,000. SO THAT'S HOW WE GOT TO THE PROPOSED REDEMPTION PRICE. OKAY. AGAIN, SO WE TALKED ABOUT THE INITIAL INVESTMENT, RIGHT? WE TALKED ABOUT SOME OF THE RETURN ON THE TAX REVENUE. AND THEN THAT LAST NUMBER, THAT REDEMPTION PRICE. IT REPRESENTS US GETTING BACK ROUGHLY $0.86 ON THE DOLLAR. RIGHT? SO THE PERFORMANCE ON THE REVENUE SIDE REALLY STRONG. 
          YOU LIKE TO WALK AWAY DOLLAR FOR DOLLAR OR MORE. BUT NONETHELESS, THIS IS WHAT THE TRANSACTION THE PROPOSED TERMS REPRESENT JUST QUANTITATIVELY. ALL RIGHT. SO WE'VE TALKED ABOUT THIS PARTICULAR PROPERTY. IT PRECEDES MY TIME EVEN YOU KNOW. SO YOU KNOW WE'VE BEEN TALKING WITH THE GENERAL PARTNER AND I'LL SAY THIS, THE REPRESENTATIVES FROM THE GENERAL PARTNERSHIP INCORPORATED OPTIONS REAL ESTATE, THEIR REPRESENTATIVE. 
          THE PRESIDENT COULD NOT BE HERE TONIGHT. THEY'VE GOT ONE OF THEIR TEAM MEMBERS WHO'S, YOU KNOW, BEEN HOSPITALIZED, SERIOUS ILLNESS. AND SO THEY'VE BEEN PROVIDING SOME SUPPORT TO THEIR EMPLOYEE TEAM MEMBERS. SO HE SENDS HIS REGARDS. HE COULDN'T BE HERE. BUT AGAIN, HE ATTENDED THE PARTNERSHIP MEETING THAT WE HAD A COUPLE OF WEEKS AGO HERE AT CITY HALL. 
          AND AGAIN, WE'VE BEEN WORKING WITH THEM TO PRESENT THIS ACTION ITEM BEFORE YOU FOR THE BETTER PART OF A YEAR. AND SO WE ALSO BRIEFED THE CITY COUNCIL AT THE LAST MEETING. 
          AND SO WE'RE HERE TONIGHT TO BRING THIS ITEM BACK BEFORE YOU FOR CONSIDERATION. AND IF, IF APPROVED, THE NEXT STEPS WOULD BE THEN EXECUTING THAT TRANSACTION, GETTING WHAT OUR FINANCE DEPARTMENT AND, YOU KNOW, RECEIVING THOSE PROCEEDS INTO THE CORPORATION'S FUND BALANCE. HAPPY TO STAND FOR ANY QUESTIONS AS YOU DELIBERATE OR DISCUSS IF THERE ARE ANY. ANY QUESTIONS FOR MISTER GOLF? MR. HARVEY, I HAD ONE COMMENT TO MAKE WHEN YOU DID, YOUR ANALYSIS, WAS THERE ANY CONSIDERATION GIVEN TO THE LARGE GRANT THAT WE RECEIVED FROM THE NORTH TEXAS. 
          [00:40:18]
COUNCIL OF GOVERNMENTS TO HELP FUND SOME SIGNIFICANT INFRASTRUCTURE IMPROVEMENTS AS A RESULT OF THIS DEVELOPMENT ALSO? YES, THAT THAT'S, YOU KNOW, ACTUALLY A BEEN A POINT OF DISCUSSION WITH ANOTHER PROPERTY THAT THE CORPORATION'S OWN WILL SAY LESS THAN A HALF A BLOCK FROM THIS SITE. BUT INCLUDED IN THAT LARGER CORRIDOR, LIKE WE KNOW THAT PROPERTY IS, YOU KNOW, RAILROAD FLATS. BUT YOU'RE RIGHT, THE CITY WAS ABLE TO LEVERAGE ALMOST $700,000 IN, YOU KNOW, FUNDING FROM NORTH CENTRAL COUNCIL OF GOVERNMENTS TO DO A LOT OF THE OFF SITE INFRASTRUCTURE IMPROVEMENTS TO STREETSCAPES LIKE. SO YOU SEE HERE, WHEN MAIN STATION WAS CONSTRUCTED AND THIS HISTORIC IMAGE, YOU KNOW, WE HAD THE JAPANESE STEAKHOUSE. I THINK THAT'S REALLY COOL. I CAME ACROSS THIS IMAGE IN THE OLD FILE, BUT WHAT YOU DON'T SEE AGAIN, IS SOME OF THE OTHER PUBLIC INFRASTRUCTURE THAT WE KNOW EXIST AS PART OF BUILT ENVIRONMENT TODAY, INCLUDING, AS MR. HAGER POINTED OUT, SOME OF THE STREETSCAPE LIGHTING, HANGING BASKETS ON STREET PARKING, PEDESTRIAN INFRASTRUCTURE. SO YEAH, ABSOLUTELY. THIS IS A THIS IS WHY THEY CALL IT A CATALYST PROJECT, RIGHT? BECAUSE IT WAS ABLE TO HELP US LEVERAGE EVEN MORE INVESTMENT FROM, FROM OTHER PUBLIC ENTITY. 
          JUST AS FAR AS CONTEXT FOR ME, WOULD IT BE FAIR TO SAY THAT THE TIMING OF DOING THIS REDEMPTION RIGHT NOW IS IT'S A SELF-SUSTAINING, MATURE PROJECT THAT GO AHEAD AND THE INCENTIVE ASPECT SHOULD BE JUST RELEASED AND, AND BIRTHED THE PROJECT AND, AND DIVEST FROM DC. DC IS THAT KIND OF CONTEXT. I THINK SO YOU SAY, YOU KNOW, AT THE TIME THAT WITHOUT BEING HERE AT THAT TIME. RIGHT. BUT THE NOTION, YOU KNOW, OF PARTICIPATING THE PROJECT IN THIS WAY IS TO HELP, YOU KNOW, INITIATE THAT INVESTMENT. BUT, YOU KNOW, THIS PROPERTIES LIVE A FULL CYCLE, RIGHT? IT'S GONE THROUGH THE CONSTRUCTION. IT'S LIVED THROUGH THE GREAT RECESSION, THROUGH COVID, YOU KNOW, AND IT'S REMAINED WITH THE RELATIVELY HIGH OCCUPANCY RATE. RIGHT. AND SO AGAIN, THAT'S REFERENCING SOME OF THE SLIDE IS PERFORMED, IT'S STABILIZED. THE THOUGHT WAS THAT WE COULD RECAPTURE AND DEPLOY THAT CAPITAL TO THE NEXT PROJECT IN THE CORRIDOR. WHILE THIS, YOU KNOW, CONTINUES TO CONTRIBUTE TO WHAT IS WHAT IT'S BEEN DOING OVER THE LAST COUPLE OF DECADES. DID THEY RECEIVE ANY TYPE OF TAX INCENTIVES AS A RESULT OF THE PUBLIC PRIVATE PARTNERSHIP? NO, THE TAX INCENTIVES WOULD BE THE TAX THAT FUNDS OUR CORPORATION, WHICH IS, YOU KNOW, PORTION OF THE SALES TAX DOLLAR. THAT WAS THE PUBLIC INVESTMENT INTO THIS PROJECT TO, YOU KNOW, MAKE THAT CAPITAL STACK TO COMMENCE AND BUILD THE PROJECT. AND SO WE'VE JUST MAINTAINED THAT EQUITY POSITION IN THE ENTITY, BUT THERE HAS NOT BEEN THE NEED TO AWARD ADDITIONAL INCENTIVE. CHAPTER THREE EIGHT AGREEMENT AS AN EXAMPLE TO THE PROJECT, BECAUSE IT ACTUALLY WAS BUILT. THERE WERE ALSO NO ABATEMENTS, IF THAT'S THE QUESTION. YEAH, WE'VE DONE SOME REFINANCING AND THINGS LIKE THAT. AGAIN, AS PART OF THE STEWARDSHIP OVER, YOU KNOW, THE CYCLE OF 20 PLUS YEARS. BUT IT'S POINTED OUT IT'S JUST BEEN A FULL TAX PAYING ENTITY, JOB CREATION, REVENUE. WE'VE JUST BEEN A LIMITED PARTNER IN THAT ENTITY. IT'S HAPPENING. JUST A QUICK QUESTION JUST FOR CLARIFICATION. 
          SO AND THANK YOU SO MUCH FOR KIND OF BRINGING THIS ALL PUTTING IT BACK TOGETHER FOR US, BECAUSE IT'S BEEN A MINUTE SINCE WE TALKED ABOUT IT. SO THANK YOU FOR THAT. SO BASICALLY, WE'RE JUST GOING TO BE STEPPING AWAY FROM THIS FOR THIS AMOUNT AND IT'S GOING TO GO TO THE ACCOUNT. YES MA'AM. THAT'S TRUE. YEAH. THANK YOU. ALL RIGHT. SO IF I UNDERSTAND IT CORRECTLY, WE ARE AT THE POINT WHERE WE ARE READY TO, AS WE JUST SAID, MOVE FORWARD FROM THIS PROJECT INTO THE NEXT SUCCESSFUL PROJECT SOMEWHERE ON MAIN STREET. IN FACT, THERE ARE OTHER OPPORTUNITIES. OH NO DOUBT. OKAY. ANY OTHER QUESTIONS FOR MR. GOLF? ALL RIGHT. THANK YOU FOR YOUR TIME AND ENLIGHTENING US AND WALKING US THROUGH THE HISTORY OF IT. 
          AND DO I GO? YES. ITEM IS SCHEDULED FOR FORMAL ACTION. BELIEVE. MR. HAGUE, ARE YOU 
          [00:45:04]
CORRECT ME IF I'M WRONG. COULD BE SIMPLY A MOTION TO AUTHORIZE THE EXECUTION RIGHT OF THIS ASSIGNMENT. AND REDEMPTION? YES. OF OUR OF THIS OF THE CORPORATION'S ECONOMIC INTEREST. 
          AND WITH THE SUCCESSFUL MOTION. THEN WE'LL PROCEED WITH ITEM NUMBER THREE, WHICH WOULD BE THE TRANSACTION. THAT WOULD BE CORRECT. I'VE NOT COMPLETED ALL OF MY REVIEW, BUT SUBJECT TO THAT REVIEW, IT WOULD BE APPROPRIATE FOR US TO GO AHEAD AND AUTHORIZE THE PRESIDENT TO SIGN THIS UPON COMPLETION. MY REVIEW. OKAY. I THINK WE'RE READY TO MOVE ON TO THE NEXT ITEM. ITEM NUMBER 11. WELL, ACTUALLY, MR. HARVEY, YOU NEED TO ENTERTAIN A MOTION AND A SECOND AND A VOTE TO AUTHORIZE YOU TO EXECUTE THE AGREEMENT, SUBJECT TO FINAL REVIEW BY OUR OFFICE. WE NEED A MOTION. YES, SIR. MOTION TO SUBJECT TO HIS FINAL REVIEW OF AGREEMENT. YEAH, I'LL STATE A MOTION IF SOMEONE WILL SAY SO. MOVE. BE A MOTION TO AUTHORIZE THE PRESIDENT OF THE D.C. EDC TO EXECUTE THE REDEMPTION OF PARTNERSHIP INTEREST AGREEMENT BUYING BETWEEN THE DUNCANVILLE ECONOMIC DEVELOPMENT CORPORATION AND THE MAIN STATION, DUNCANVILLE LIMITED. UPON FINAL REVIEW OF THE CITY, OR IN THIS CASE, THE BOARD'S ATTORNEY. THE CHAIR WILL ENTERTAIN SUCH A MOTION. SO MOVED. IS THERE A SECOND? SECOND PROPERLY MOVED IN SECOND? ARE THERE ANY QUESTIONS BEFORE WE VOTE? ALL RIGHT, LET'S VOTE. 
          I THINK HE WAS SAYING, JUST FOR CLARIFICATION, HE WAS SAYING, SUBJECT TO HIS REVIEW. I THINK THAT'S THE PART KEPT IT KEPT FADING OUT. YES. SUBJECT TO SUBJECT TO THE BOARD ATTORNEYS FINAL REVIEW. ALL RIGHT. PASSES UNANIMOUSLY. THANK YOU. BOARD. THANK YOU, MR. PRESIDENT. THANK YOU COUNSELOR. OKAY. AGENDA ITEM 11 EXECUTIVE SESSION IN ACCORDANCE WITH THE TEXAS 
          [11. EXECUTIVE SESSION ]
GOVERNMENT CODE, THE DCEDC SHALL CONVENE INTO CLOSED EXECUTIVE SESSION PURSUANT TO THE FOLLOWING SECTION. SECTION FIVE, 51.0872 DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS TO DELIBERATE THE OFFER OF A FINANCIAL OR OTHER INCENTIVE TO A BUSINESS PROSPECT, A ONE, THE DC, DC BOARD OF DIRECTORS SHALL CONVENE INTO EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODE SECTION 551.071 CONSULTATION WITH ATTORNEY 551072 DELIBERATION REGARDING REAL PROPERTY AND 55107087 DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS TO A SEEK LEGAL ADVICE FROM THE D E DC ATTORNEY AND B TO DISCUSS CONSIDERING DELIBERATE THE PURCHASE, EXCHANGE OR LEASE OF REAL PROPERTY LOCATED EAST OF CLARK ROAD, NORTH OF DANIEL DALE ROAD, WEST OF COCKRELL HILL ROAD AND SOUTH OF WEST REDBIRD LANE, INCLUDING ANY ECONOMIC DEVELOPMENT INCENTIVES RELATED THERETO. THE 
          [12. RECONVENE INTO OPEN SESSION ]
OKAY, WE'RK INTO EXECUTIVES COMING OUT OF EXECUTIVE SESSION AT 728, COMING BACK INTO REGULAR SESSION AS A RESULT OF THE EXECUTIVE SESSION. THERE IS NO ACTION BEING REQUIRED AT THIS TIME. AND SO WITH ALL OF THAT BEING SAID, WE WILL CLOSE THE REGULAR SESSION OF THE DCE DC AT 729.
* This transcript was compiled from uncorrected Closed Captioning.