1 00:00:00,000 --> 00:00:06,140 We've determined that a quorum has been met. 2 00:00:06,140 --> 00:00:10,320 The downtown Denton tax increment financing reinvestment zone number one board of the 3 00:00:10,320 --> 00:00:16,000 city of Denton, Texas will now convene an especially called meeting at 12 o'clock, 12 4 00:00:16,000 --> 00:00:20,360 p.m. this Friday, the fifth day of February 2021. 5 00:00:20,360 --> 00:00:24,200 Our first order of business is consider approval and our corrections of the meeting minutes 6 00:00:24,200 --> 00:00:30,320 from the October 21st 2020 downtown Denton TIF reinvestment zone number one board of 7 00:00:30,320 --> 00:00:31,640 the city of Denton, Texas. 8 00:00:31,640 --> 00:00:38,840 Are there any corrections to the minutes as distributed? 9 00:00:38,840 --> 00:00:40,640 Do we have a motion? 10 00:00:40,640 --> 00:00:41,640 Paul? 11 00:00:41,640 --> 00:00:47,760 Yes, since I was actually there, I'll move approval of the minutes and I did read them 12 00:00:47,760 --> 00:00:48,920 and they were well done. 13 00:00:48,920 --> 00:00:49,920 Thank you. 14 00:00:49,920 --> 00:00:52,920 Do we have a second? 15 00:00:52,920 --> 00:00:56,040 Ben? 16 00:00:56,040 --> 00:00:58,600 Can we go with his hand raise? 17 00:00:58,600 --> 00:01:01,440 Yes, then seconds. 18 00:01:01,440 --> 00:01:06,800 It is moved and seconded that we approve the minutes as presented, no additions or amendments 19 00:01:06,800 --> 00:01:07,800 needed. 20 00:01:07,800 --> 00:01:12,960 I will call your name once called, please state your name and your motion of adoption 21 00:01:12,960 --> 00:01:15,680 or opposition with a form of yes or no. 22 00:01:15,680 --> 00:01:18,880 Don't forget to unmute yourself. 23 00:01:18,880 --> 00:01:23,160 City Council Member Connie Baker? 24 00:01:23,160 --> 00:01:26,400 Yes. 25 00:01:26,400 --> 00:01:28,640 City Council Member Paul Meltzer? 26 00:01:28,640 --> 00:01:29,640 Aye. 27 00:01:29,640 --> 00:01:30,640 Alex. 28 00:01:30,640 --> 00:01:33,120 Alex isn't here yet. 29 00:01:33,120 --> 00:01:35,120 Melissa Lennonburg? 30 00:01:35,120 --> 00:01:36,360 Aye. 31 00:01:36,360 --> 00:01:38,360 Ben Easley? 32 00:01:38,360 --> 00:01:39,360 Aye. 33 00:01:39,360 --> 00:01:42,000 Eric Pruitt? 34 00:01:42,000 --> 00:01:45,000 Aye. 35 00:01:45,000 --> 00:01:48,000 The motion passes by unanimous vote. 36 00:01:48,000 --> 00:01:53,480 The next order of business is receive nominations and elect a vice chair and secretary for the 37 00:01:53,480 --> 00:01:57,080 downtown tax increment finance reinvestment zone number one. 38 00:01:57,080 --> 00:02:01,360 I would like to thank Alex, who's not here today, for his years of service as vice chair. 39 00:02:01,360 --> 00:02:06,480 At this time, I would like to accept nominations from the floor for vice chair. 40 00:02:06,480 --> 00:02:15,000 Question, is Alex interested in continuing despite his not being here today? 41 00:02:15,000 --> 00:02:20,720 We didn't get a chance to speak with Alex prior to the meeting, but he is joining right 42 00:02:20,720 --> 00:02:21,720 now. 43 00:02:21,720 --> 00:02:28,400 So if you want to move forward with the secretary discussion, first of all, we get Alex maybe 44 00:02:28,400 --> 00:02:33,840 settled into the meeting, and I will say I will happily continue to serve as report secretary 45 00:02:33,840 --> 00:02:40,000 since it is me who files all of the reports with the state, happy to continue that role. 46 00:02:40,000 --> 00:02:45,320 Yes, and definitely typically the committee has nominated someone from staff in this position. 47 00:02:45,320 --> 00:02:51,320 Currently Jessica does do a terrific job and super appreciated. 48 00:02:51,320 --> 00:02:58,880 Would we like to go ahead and do a nomination for secretary for our tourist board? 49 00:02:58,880 --> 00:03:01,200 Paul? 50 00:03:01,200 --> 00:03:07,160 Well, with strongly mixed feelings, I'll move for Jessica. 51 00:03:07,160 --> 00:03:10,040 I accept that. 52 00:03:10,040 --> 00:03:14,840 We have a motion to have Jessica continue as secretary. 53 00:03:14,840 --> 00:03:16,920 Do we have a second? 54 00:03:16,920 --> 00:03:17,920 Eric? 55 00:03:17,920 --> 00:03:18,920 Second. 56 00:03:18,920 --> 00:03:20,240 Eric seconds. 57 00:03:20,240 --> 00:03:23,800 It is move and seconded that we reelect Jessica Rogers as secretary. 58 00:03:23,800 --> 00:03:31,440 I will call your name again, please unmute, and please give your name with a motion of 59 00:03:31,440 --> 00:03:35,640 adoption or opposition with a form of yes or no. 60 00:03:35,640 --> 00:03:36,640 Connie? 61 00:03:36,640 --> 00:03:37,640 Connie Baker, yes. 62 00:03:37,640 --> 00:03:38,640 Paul? 63 00:03:38,640 --> 00:03:47,520 I'm going to be influenced by Connie and I will say yes rather than I. 64 00:03:47,520 --> 00:03:48,520 Alex? 65 00:03:48,520 --> 00:03:49,520 Yes. 66 00:03:49,520 --> 00:03:50,520 Melissa Lenneberg, yes. 67 00:03:50,520 --> 00:03:53,840 Oh, Alex, could you please state your name? 68 00:03:53,840 --> 00:03:56,840 Alex Payne, yes. 69 00:03:56,840 --> 00:03:58,560 Melissa Lenneberg, yes. 70 00:03:58,560 --> 00:03:59,560 Ben Easley? 71 00:03:59,560 --> 00:04:00,560 Ben Easley, yes. 72 00:04:00,560 --> 00:04:01,560 Eric? 73 00:04:01,560 --> 00:04:10,480 Eric Pruitt, yes. 74 00:04:10,480 --> 00:04:14,240 The motion passes by unanimous vote. 75 00:04:14,240 --> 00:04:20,520 Alex, we had a question a minute ago. 76 00:04:20,520 --> 00:04:25,520 Are you interested in being reelected to vice chair? 77 00:04:25,520 --> 00:04:28,400 Yes. 78 00:04:28,400 --> 00:04:36,920 So thank you so much for the service thus far, and I think we will open it up to a motion 79 00:04:36,920 --> 00:04:41,600 for any nominations for vice chair. 80 00:04:41,600 --> 00:04:43,080 Eric? 81 00:04:43,080 --> 00:04:51,040 I'm going to nominate Alex Payne as vice chair. 82 00:04:51,040 --> 00:04:55,560 Do we have a second? 83 00:04:55,560 --> 00:05:02,520 Uh oh. 84 00:05:02,520 --> 00:05:03,680 Do we need a discussion? 85 00:05:03,680 --> 00:05:04,680 Do we have a second? 86 00:05:04,680 --> 00:05:05,680 Second. 87 00:05:05,680 --> 00:05:06,680 Okay. 88 00:05:06,680 --> 00:05:13,680 We have Paul as a second for motion to continue with Alex Payne or to reelect Alex Payne as 89 00:05:13,680 --> 00:05:14,680 vice chair. 90 00:05:14,680 --> 00:05:17,520 I will call your name. 91 00:05:17,520 --> 00:05:22,560 Please state your full name and your motion of adoption or opposition with a form of yes 92 00:05:22,560 --> 00:05:23,560 or no. 93 00:05:23,560 --> 00:05:25,680 Please unmute yourself. 94 00:05:25,680 --> 00:05:26,680 Connie? 95 00:05:26,680 --> 00:05:30,280 Connie Berger, yes. 96 00:05:30,280 --> 00:05:31,280 Paul? 97 00:05:31,280 --> 00:05:34,920 Paul David Meltzer, yes. 98 00:05:34,920 --> 00:05:35,920 Alex? 99 00:05:35,920 --> 00:05:38,440 Alex Payne, yes. 100 00:05:38,440 --> 00:05:40,480 Melissa Lenneberg, yes. 101 00:05:40,480 --> 00:05:41,480 Ben? 102 00:05:41,480 --> 00:05:44,080 Ben Easley is a yes. 103 00:05:44,080 --> 00:05:45,080 Eric? 104 00:05:45,080 --> 00:05:47,320 Eric Pruitt, yes. 105 00:05:47,320 --> 00:05:50,040 The motion passes by unanimous vote. 106 00:05:50,040 --> 00:05:53,840 Well done, everyone. 107 00:05:53,840 --> 00:05:57,760 The next border, the next order of businesses receive a report and hold a discussion and 108 00:05:57,760 --> 00:06:04,080 make recommendations to the city council regarding the 2019-2020 downtown tax increment reinvestment 109 00:06:04,080 --> 00:06:05,920 zone number one report. 110 00:06:05,920 --> 00:06:08,480 The chair recognizes Christina Davis. 111 00:06:08,480 --> 00:06:14,200 All right, give us a second because I'm going to be clicking through for Christina. 112 00:06:14,200 --> 00:06:17,400 Let me get it situated. 113 00:06:17,400 --> 00:06:18,720 Should everyone mute at this point? 114 00:06:18,720 --> 00:06:22,880 Yes, if you could go ahead and mute. 115 00:06:22,880 --> 00:06:34,080 All right, everyone should see the presentation and we should be good to go, Christina. 116 00:06:34,080 --> 00:06:36,240 Hi, my name is Christina Davis. 117 00:06:36,240 --> 00:06:40,000 I'm your economic development specialist and today I'll be providing the annual report 118 00:06:40,000 --> 00:06:44,680 for the downtown tax increment reinvestment zone number one. 119 00:06:44,680 --> 00:06:51,480 Our objective today is to receive a report, hold a discussion, and make a recommendation 120 00:06:51,480 --> 00:06:58,440 to city council regarding the approval of the 2019-2020 downtown tax increment reinvestment 121 00:06:58,440 --> 00:07:01,520 zone number one annual report. 122 00:07:01,520 --> 00:07:07,360 Before we get started in reviewing the report, I just want to provide a quick overview of 123 00:07:07,360 --> 00:07:09,400 what ATTERS is. 124 00:07:09,400 --> 00:07:15,160 ATTERS is a tax reinvestment zone and it's a tool used to fund public improvements, stimulate 125 00:07:15,160 --> 00:07:20,240 development or redevelopment, and enhance infrastructure within a defined area. 126 00:07:20,240 --> 00:07:25,920 ATTERS operates by capturing an increase in tax revenue from the defined area and using 127 00:07:25,920 --> 00:07:29,200 the revenue on projects within that same area. 128 00:07:29,200 --> 00:07:34,680 When ATTERS is created, a base taxable value of the property within the zone is established. 129 00:07:34,680 --> 00:07:39,560 In years following the increment of the increase in valuation between the base year and the 130 00:07:39,560 --> 00:07:44,080 following years goes into the ATTERS fund for use and development of the district. 131 00:07:44,080 --> 00:07:48,640 The length of time ATTERS generally exists varies, but typically they last for a period 132 00:07:48,640 --> 00:07:53,320 of 20 to 30 years. 133 00:07:53,320 --> 00:07:55,040 Excellent. 134 00:07:55,040 --> 00:07:58,160 Each district does have statutory requirements. 135 00:07:58,160 --> 00:08:04,160 Texas Code Chapter 311 requires an action for each ATTERS district, so once a district 136 00:08:04,160 --> 00:08:10,320 is established, a board is appointed to manage the ATTERS and to advise the governing body. 137 00:08:10,320 --> 00:08:13,800 In our instance, the governing body is the city council. 138 00:08:13,800 --> 00:08:18,560 The board adopts and recommends adoption of the finance in the project plans and then 139 00:08:18,560 --> 00:08:23,280 an annual report about the district's activity is submitted to the state. 140 00:08:23,280 --> 00:08:28,840 Any use of the ATTERS funds must be approved by the governing body and follow the approved 141 00:08:28,840 --> 00:08:30,560 project plan. 142 00:08:30,560 --> 00:08:39,360 The mission of the downtown tax equipment reinvestment zone number one, or ATTERS number 143 00:08:39,360 --> 00:08:44,320 one, is to provide a source of funding for public infrastructure improvements to encourage 144 00:08:44,320 --> 00:08:49,320 and accelerate necessary development and redevelopment within the district. 145 00:08:49,320 --> 00:08:58,280 The ATTERS took effect on January 1, 2011 and will terminate on December 31, 2041, or 146 00:08:58,280 --> 00:09:02,960 when the budget of $24.8 million has been collected. 147 00:09:02,960 --> 00:09:07,240 And currently, we're entering into the 10th year of the ATTERS, but the report covers 148 00:09:07,240 --> 00:09:13,940 year nine. 149 00:09:13,940 --> 00:09:19,080 The City of Denton is the sole participating jurisdiction of this ATTERS and commends a 150 00:09:19,080 --> 00:09:25,380 percentage of the tax revenue from the incremental increase in value over time. 151 00:09:25,380 --> 00:09:32,480 The city's participation or the percent of incremental tax revenue declines over time. 152 00:09:32,480 --> 00:09:37,600 So in years one through five, you have 100%, six through 10, 95, and then it decreases 153 00:09:37,600 --> 00:09:41,000 down to 85% in the last years. 154 00:09:41,000 --> 00:09:42,000 Next slide. 155 00:09:42,000 --> 00:09:46,860 I just wanted to show you the outline area of the ATTERS. 156 00:09:46,860 --> 00:09:49,660 So on the west, its boundary is generally Carroll. 157 00:09:49,660 --> 00:09:52,960 On the north, you're looking at Parkway and McKinney. 158 00:09:52,960 --> 00:09:58,600 On the east is Bradshaw, and on the south is Prairie and Sycamore. 159 00:09:58,600 --> 00:10:02,080 Inside the area are multiple property descriptions. 160 00:10:02,080 --> 00:10:06,640 And if anyone would like a better view of the map, I'm happy to send that to you. 161 00:10:06,640 --> 00:10:08,840 Next slide. 162 00:10:08,840 --> 00:10:12,940 And the project plan covers projects within the area. 163 00:10:12,940 --> 00:10:17,080 So when they adopt the project plan, it outlines the types of projects that can be used throughout 164 00:10:17,080 --> 00:10:18,080 the ATTERS. 165 00:10:18,080 --> 00:10:25,280 The ATTERS is expected to produce $24.8 million over its 30-year life, and the ATTERS funding 166 00:10:25,280 --> 00:10:30,820 estimates adopted into the project plan were allocated to the project categories. 167 00:10:30,820 --> 00:10:36,120 So for our ATTERS, we determined that parking or transportation with an investment of $8 168 00:10:36,120 --> 00:10:43,580 million completes treats for 7.9, supportive downtown projects, 4.9, utility and drainage 169 00:10:43,580 --> 00:10:45,960 improvements of 4 million. 170 00:10:45,960 --> 00:10:50,020 So that brings us to our total of $24.8 million. 171 00:10:50,020 --> 00:10:53,000 Next slide. 172 00:10:53,000 --> 00:11:00,800 This annual report represents activity from October 1, 2019 through September 30, 2020. 173 00:11:00,800 --> 00:11:09,360 During that time, $730,000 -- I'm sorry, let me start over -- $730,000 -- why can't 174 00:11:09,360 --> 00:11:10,360 I speak today? 175 00:11:10,360 --> 00:11:11,360 I'm so sorry. 176 00:11:11,360 --> 00:11:21,640 $730,722 was collected at the end of the supplemental period, and an additional $16,930 of interest 177 00:11:21,640 --> 00:11:34,520 brings a total contribution for the fiscal year of 2019-20 to a total of $747,652. 178 00:11:34,520 --> 00:11:38,740 Under our district accomplishments in the report, you'll see that we have a final payment 179 00:11:38,740 --> 00:11:44,400 of $76,000 to really our partners that was distributed over a five-year total. 180 00:11:44,400 --> 00:11:51,920 So this was their final payment for a total amount of $380,000. 181 00:11:51,920 --> 00:11:57,040 The city was approached by multiple developers with interest in projects within the district 182 00:11:57,040 --> 00:12:02,920 with public and private components, and some of those discussions are still ongoing. 183 00:12:02,920 --> 00:12:08,840 Staff engaged a TURS consultant named TXP, Inc. to assist with the financial analysis 184 00:12:08,840 --> 00:12:12,960 of proposed projects and to review the TURS overall. 185 00:12:12,960 --> 00:12:18,960 The city approved a number of downtown reinvestment grants, and the downtown reinvestment grant 186 00:12:18,960 --> 00:12:25,000 program was amended to include ADA improvements as eligible expenses. 187 00:12:25,000 --> 00:12:26,880 Next slide. 188 00:12:26,880 --> 00:12:32,920 Annual figures provided by Denton Central Appraisal District show for the fiscal year 2019-20, 189 00:12:32,920 --> 00:12:40,120 total appraised value of taxable real property was $209.6 million, which is an increase of 190 00:12:40,120 --> 00:12:43,360 $38.9 million over the previous year. 191 00:12:43,360 --> 00:12:48,040 The annual TURS fund contribution of property tax and interest income for the fiscal year 192 00:12:48,040 --> 00:12:54,000 was $747,652. 193 00:12:54,000 --> 00:13:00,640 Since its inception, the final value of supplements for the TURS number one has increased an estimated 194 00:13:00,640 --> 00:13:13,200 $130.3 million, and that represents a 164.3% increase in valuation. 195 00:13:13,200 --> 00:13:18,120 This is a spreadsheet showing the certified and supplemental summary. 196 00:13:18,120 --> 00:13:27,960 So if you look at 2019, which is the last line, the total tax value is $209.6 million. 197 00:13:27,960 --> 00:13:35,400 And if you take that from the base year, it has a -- I'm sorry, it captures a supplemental 198 00:13:35,400 --> 00:13:48,000 value of $130.6 -- I'm sorry, $130,000 -- sorry, I'm just really having issues today. 199 00:13:48,000 --> 00:13:50,680 $130,269,397. 200 00:13:50,680 --> 00:14:00,120 So maybe it would be easier if I said $130.2 million. 201 00:14:00,120 --> 00:14:07,960 So that brings a supplemental contribution to the TURS, $730,722, for a total contribution 202 00:14:07,960 --> 00:14:23,400 of $3.3 million, and then your interest for this last year for 2019 is $16,930, for a 203 00:14:23,400 --> 00:14:27,880 total interest calculation of $56,744. 204 00:14:27,880 --> 00:14:30,760 Really sorry about the issues I'm having with numbers today. 205 00:14:30,760 --> 00:14:36,800 If we can go to the next slide. 206 00:14:36,800 --> 00:14:42,520 The action of the board and the annual report, we did have four TURS board meetings last 207 00:14:42,520 --> 00:14:43,520 year. 208 00:14:43,520 --> 00:14:50,960 And we recommended approval of the 2018-19 TURS annual report to the Denton City Council. 209 00:14:50,960 --> 00:14:56,640 We approved an update to the downtown reinvestment grant policy, a program policy. 210 00:14:56,640 --> 00:15:02,640 We recommended to the City Council approval of six downtown reinvestment grants. 211 00:15:02,640 --> 00:15:10,360 We moved forward with a study and analysis by TXP, Inc. on the TURS number one. 212 00:15:10,360 --> 00:15:17,040 And we approved the fiscal year 2021 TURS budget. 213 00:15:17,040 --> 00:15:22,760 Wanted to share with you some of the projects that have been completed over the last fiscal 214 00:15:22,760 --> 00:15:24,560 year. 215 00:15:24,560 --> 00:15:28,960 The first project completed is the 380 agreement with railyard partners. 216 00:15:28,960 --> 00:15:32,200 It was the first project in the district. 217 00:15:32,200 --> 00:15:36,240 They received $380,000 over five years. 218 00:15:36,240 --> 00:15:39,200 The project is a transit oriented catalyst project. 219 00:15:39,200 --> 00:15:44,060 It focused on office, retail, restaurant, and multifamily housing. 220 00:15:44,060 --> 00:15:50,760 And it renovated an existing building that was, I believe it was more business forms. 221 00:15:50,760 --> 00:15:53,220 And they were able to expand that building. 222 00:15:53,220 --> 00:15:59,160 So it's turned out to be a really great project and it has pushed some other improvements 223 00:15:59,160 --> 00:16:00,160 in that area. 224 00:16:00,160 --> 00:16:02,320 We go to the next slide. 225 00:16:02,320 --> 00:16:07,640 One of our downtown grants that was completed was by Scott Brown commercial. 226 00:16:07,640 --> 00:16:10,680 It was part of the downtown reinvestment grant program. 227 00:16:10,680 --> 00:16:16,440 The property address, you might know it, it's right there in the corner of 216 West Oak 228 00:16:16,440 --> 00:16:17,440 and Cedar Street. 229 00:16:17,440 --> 00:16:27,040 The estimated project cost was $206,300 and they did receive a grant of $25,000. 230 00:16:27,040 --> 00:16:32,480 Also along with that same project, this project was a companion project, also owned by Scott 231 00:16:32,480 --> 00:16:33,480 Brown commercial. 232 00:16:33,480 --> 00:16:41,280 The estimated cost on that project was $115,000 and they received a grant of $25,000. 233 00:16:41,280 --> 00:16:48,680 The final grant that was completed in the fiscal year was a signed grant for the H2OAK 234 00:16:48,680 --> 00:16:49,680 property. 235 00:16:49,680 --> 00:17:03,920 The original cost was $14,625,000 and they received a grant for 50%, which is $7,313. 236 00:17:03,920 --> 00:17:12,800 At this time, staff would like to make a recommendation that the downtown TURS board recommend approval 237 00:17:12,800 --> 00:17:18,960 the resolution of the 2019-20 downtown tax increment reinvestment zone number one annual 238 00:17:18,960 --> 00:17:22,040 report and declare an effective date. 239 00:17:22,040 --> 00:17:25,760 Do you have any questions for me? 240 00:17:25,760 --> 00:17:26,760 Yes. 241 00:17:26,760 --> 00:17:27,760 Paul? 242 00:17:27,760 --> 00:17:31,760 I don't know if you would know this offhand. 243 00:17:31,760 --> 00:17:35,840 The question didn't occur to me until just now. 244 00:17:35,840 --> 00:17:41,200 So sorry, not to give you the heads up, but of the increase in value, do we have any sense 245 00:17:41,200 --> 00:17:48,320 of how much of that was due to improvements and new construction versus just increase 246 00:17:48,320 --> 00:17:51,920 in appraised value of existing structures? 247 00:17:51,920 --> 00:17:59,300 So, actually, Councilmember, I intended to grab that exact piece of information this 248 00:17:59,300 --> 00:18:02,040 morning and I got distracted on something else. 249 00:18:02,040 --> 00:18:06,840 So let me finish reaching out to our finance department and get that number and I'll send 250 00:18:06,840 --> 00:18:09,040 it out to the whole group after this. 251 00:18:09,040 --> 00:18:14,360 We did report on it back when we adopted the budget, but that didn't include all of the 252 00:18:14,360 --> 00:18:18,880 supplementals that came through after the certified, so let me get that updated number 253 00:18:18,880 --> 00:18:20,860 and I'll send it out. 254 00:18:20,860 --> 00:18:21,860 Thanks. 255 00:18:21,860 --> 00:18:32,200 Definitely, now the report is open for discussion. 256 00:18:32,200 --> 00:18:40,360 Following discussion, we will ask for recommendation, a motion, and then a vote. 257 00:18:40,360 --> 00:18:44,380 Any discussion? 258 00:18:44,380 --> 00:18:49,520 The report is now open for recommendation to the City Council. 259 00:18:49,520 --> 00:18:52,520 Do we have a motion? 260 00:18:52,520 --> 00:18:54,560 Ben? 261 00:18:54,560 --> 00:18:59,640 Unmute, Ben? 262 00:18:59,640 --> 00:19:10,600 And easily moves for recommendation. 263 00:19:10,600 --> 00:19:11,600 To present as? 264 00:19:11,600 --> 00:19:12,600 To present it to Council. 265 00:19:12,600 --> 00:19:13,600 Yes. 266 00:19:13,600 --> 00:19:14,600 Okay. 267 00:19:14,600 --> 00:19:40,080 It is moved and seconded that we present the report as presented. 268 00:19:40,080 --> 00:19:41,280 I'll call your name. 269 00:19:41,280 --> 00:19:45,920 Please give a motion of adoption or opposition with a yes or no. 270 00:19:45,920 --> 00:19:47,600 Don't forget to unmute yourself. 271 00:19:47,600 --> 00:19:52,320 Let's see my list. 272 00:19:52,320 --> 00:19:54,840 Connie? 273 00:19:54,840 --> 00:19:57,480 Yes. 274 00:19:57,480 --> 00:19:58,960 Connie Baker says yes. 275 00:19:58,960 --> 00:19:59,960 Paul? 276 00:19:59,960 --> 00:20:00,960 Yes. 277 00:20:00,960 --> 00:20:03,040 Paul Meltzer says yes. 278 00:20:03,040 --> 00:20:04,040 Alex? 279 00:20:04,040 --> 00:20:06,960 Alex Payne, yes. 280 00:20:06,960 --> 00:20:09,080 Melissa Lenneberg, yes. 281 00:20:09,080 --> 00:20:10,080 Ben? 282 00:20:10,080 --> 00:20:12,680 Ben Easley, is a yes. 283 00:20:12,680 --> 00:20:13,680 Eric? 284 00:20:13,680 --> 00:20:15,280 Eric Perutt, yes. 285 00:20:15,280 --> 00:20:16,280 Terrific. 286 00:20:16,280 --> 00:20:18,800 The motion passes by unanimous vote. 287 00:20:18,800 --> 00:20:19,800 Yay! 288 00:20:19,800 --> 00:20:23,760 And thank you to Christina. 289 00:20:23,760 --> 00:20:27,480 That was her first time presenting the annual report, so great job. 290 00:20:27,480 --> 00:20:28,480 Good job. 291 00:20:28,480 --> 00:20:29,480 Well done. 292 00:20:29,480 --> 00:20:30,480 Thank you, Christina. 293 00:20:30,480 --> 00:20:31,480 And remotely. 294 00:20:31,480 --> 00:20:32,480 Thank you. 295 00:20:32,480 --> 00:20:33,480 And remotely. 296 00:20:33,480 --> 00:20:34,480 And remotely, yeah. 297 00:20:34,480 --> 00:20:38,320 There's a little more comfort in being at home, I don't know what it is. 298 00:20:38,320 --> 00:20:39,320 It's good. 299 00:20:39,320 --> 00:20:40,320 It's a fair met, probably. 300 00:20:40,320 --> 00:20:41,320 Yes. 301 00:20:41,320 --> 00:20:44,720 So the next order of business is 1D, receive staff activity report. 302 00:20:44,720 --> 00:20:47,600 The chair, again, recognizes Christina Davis. 303 00:20:47,600 --> 00:20:48,600 Hello. 304 00:20:48,600 --> 00:20:55,280 So generally, we go through openings, closings, and coming soon, and then I also report on 305 00:20:55,280 --> 00:21:01,280 the activity of the active grants for the Downtown Reinvestment Grant Program. 306 00:21:01,280 --> 00:21:03,400 I have everything listed out. 307 00:21:03,400 --> 00:21:07,280 If you like, I can read through and give you a little information about each one, or if 308 00:21:07,280 --> 00:21:12,000 you just would like to -- if you have any questions about any of the new businesses 309 00:21:12,000 --> 00:21:15,160 or closings, I'd be happy to answer those as well. 310 00:21:15,160 --> 00:21:20,240 It's whatever the board prefers. 311 00:21:20,240 --> 00:21:21,240 Any preference? 312 00:21:21,240 --> 00:21:26,480 Come on, you new people, you got to speak up. 313 00:21:26,480 --> 00:21:34,320 Why don't you quickly go over the openings and closings, and we'll see if there's questions. 314 00:21:34,320 --> 00:21:35,320 We'll see if there's questions. 315 00:21:35,320 --> 00:21:36,320 Okay. 316 00:21:36,320 --> 00:21:39,200 And under your openings, we have more fun toys. 317 00:21:39,200 --> 00:21:44,520 They went into the previous Mad World Records location that -- if you remember, Mad World 318 00:21:44,520 --> 00:21:49,640 Records went to online sales last year. 319 00:21:49,640 --> 00:21:56,600 We have a hair salon, and unfortunately, I do not have the name of them right now. 320 00:21:56,600 --> 00:21:59,800 They opened at 110 West Oak Street. 321 00:21:59,800 --> 00:22:01,440 We also have Mashup Market. 322 00:22:01,440 --> 00:22:05,200 They've moved in as a new little market on East Hickory Street. 323 00:22:05,200 --> 00:22:10,840 Three Wishes Market, these ladies started out just having little booths or kiosks in 324 00:22:10,840 --> 00:22:16,680 another business, and they came together and opened up a new business themselves on West 325 00:22:16,680 --> 00:22:17,680 Oak. 326 00:22:17,680 --> 00:22:18,680 Oh, here we go. 327 00:22:18,680 --> 00:22:24,560 It looks like I have a -- Try to Intrude Salon is the hair salon that opened at 110 West 328 00:22:24,560 --> 00:22:25,560 Oak. 329 00:22:25,560 --> 00:22:34,720 UNT CoLab, it used to be UNT on the Square with some new management and some new programming. 330 00:22:34,720 --> 00:22:41,000 They've moved into the previous Cowboy Furniture location that was on Elm Street. 331 00:22:41,000 --> 00:22:45,760 Bank of Bond Vintage Denton is a new vintage clothing store. 332 00:22:45,760 --> 00:22:52,160 They're at 314 East Hickory, which is the previous Denton Record Chronicle building 333 00:22:52,160 --> 00:22:55,160 where NCTC is located. 334 00:22:55,160 --> 00:22:59,320 And then also Vintage Lizard opened on 318 East Oak. 335 00:22:59,320 --> 00:23:05,680 They're in the same small little shopping center as Mashup Market. 336 00:23:05,680 --> 00:23:10,920 So you have about eight or nine businesses there in a little location. 337 00:23:10,920 --> 00:23:15,160 Closing, Circus 77 did finally close. 338 00:23:15,160 --> 00:23:19,360 They tried to rebrand and come back, but they didn't quite make it. 339 00:23:19,360 --> 00:23:23,360 But Shells on the Square also closed, as did Vintage Blue. 340 00:23:23,360 --> 00:23:28,560 Vintage Blue has gone back to online sales and doing special markets. 341 00:23:28,560 --> 00:23:33,160 Soon we still have H2Oak, no news on how soon they'll be opening. 342 00:23:33,160 --> 00:23:37,000 They're waiting for things to change with COVID, of course. 343 00:23:37,000 --> 00:23:41,120 Caskeys at 311 North Elm, really excited about them because they're right in front of our 344 00:23:41,120 --> 00:23:44,400 new location, where we'll be moving to. 345 00:23:44,400 --> 00:23:49,280 And they've run into a few bumps along the way, but they're getting closer. 346 00:23:49,280 --> 00:23:55,680 And then Lemuse Vintage is moving from their current location at 121 Elm Street, right 347 00:23:55,680 --> 00:23:59,640 down the corner of Elm and Cedar. 348 00:23:59,640 --> 00:24:03,640 And they're moving into, that's wrong, I have it backwards, I'm sorry, they're moving from 349 00:24:03,640 --> 00:24:05,240 their Hickory location to Elm. 350 00:24:05,240 --> 00:24:13,580 So they're moving into the previously vacated spot from the Shells on the Square. 351 00:24:13,580 --> 00:24:18,760 The Downtown Reinvestment Grant that is still active, that was approved last year before, 352 00:24:18,760 --> 00:24:26,080 but has not yet been expended, is at 104 West McKinney Street. 353 00:24:26,080 --> 00:24:31,940 And each time I reach out to Mr. Dow, he says they're still working and they're making improvements 354 00:24:31,940 --> 00:24:33,640 and changes as they go along. 355 00:24:33,640 --> 00:24:37,080 They still plan to have it as a hamburger restaurant. 356 00:24:37,080 --> 00:24:39,920 So we're still waiting to hear from them. 357 00:24:39,920 --> 00:24:45,800 I think Jessica has the status update for the study. 358 00:24:45,800 --> 00:24:50,880 Yes, so I know that, oh, Council Member Melter? 359 00:24:50,880 --> 00:24:54,080 Yeah, sorry if I missed it. 360 00:24:54,080 --> 00:25:04,760 Did you comment on the ever coming gelato place on Oak? 361 00:25:04,760 --> 00:25:11,160 I've heard different things about that, but we cannot confirm that they're coming. 362 00:25:11,160 --> 00:25:15,400 So I heard a rumor that someone else has taken over that lease, but we haven't been able 363 00:25:15,400 --> 00:25:17,080 to confirm that yet. 364 00:25:17,080 --> 00:25:19,400 So if I hear something, I'll be glad to let you know. 365 00:25:19,400 --> 00:25:20,400 I'd love to know. 366 00:25:20,400 --> 00:25:21,400 I'm just curious. 367 00:25:21,400 --> 00:25:26,720 It seems to be redefining the meaning of the word soon, incoming soon. 368 00:25:26,720 --> 00:25:32,320 Okay, thanks. 369 00:25:32,320 --> 00:25:36,600 So in terms of the downtown terse, I'm sorry, Eric, did you have a... 370 00:25:36,600 --> 00:25:43,200 Yeah, just a question on the 121 Elm that Les Muses Vintage is moving into, is that 371 00:25:43,200 --> 00:25:45,880 North Elm or South Elm? 372 00:25:45,880 --> 00:25:48,640 It's right on the face of the square. 373 00:25:48,640 --> 00:25:51,360 Oh, okay, okay. 374 00:25:51,360 --> 00:25:52,360 Got it. 375 00:25:52,360 --> 00:25:53,360 Thank you. 376 00:25:53,360 --> 00:25:59,680 All right, so I will give a very quick update on the terse study. 377 00:25:59,680 --> 00:26:05,240 So we have been going back and running a lot of different scenarios, financial scenarios 378 00:26:05,240 --> 00:26:10,020 based on the direction we received from the terse board so that we could have a really 379 00:26:10,020 --> 00:26:16,040 robust discussion with council as they're kind of making policy decisions with projects 380 00:26:16,040 --> 00:26:19,680 that are proposed for the terse to fund. 381 00:26:19,680 --> 00:26:22,200 That presentation will be February 9th. 382 00:26:22,200 --> 00:26:27,000 I'm happy to say that council agenda item, it's in the can, it's ready to go. 383 00:26:27,000 --> 00:26:31,120 So it'll be published this afternoon with the agenda. 384 00:26:31,120 --> 00:26:36,000 And really at that point, we'll see what direction we get from city council. 385 00:26:36,000 --> 00:26:40,160 The intent would be to, whatever direction we get from them, we can bring it back to 386 00:26:40,160 --> 00:26:41,160 the board. 387 00:26:41,160 --> 00:26:47,400 We have a regular meeting in March and kind of have further discussions at that point. 388 00:26:47,400 --> 00:26:53,140 But this board provided us your recommendation and we are taking that forward with a little 389 00:26:53,140 --> 00:26:54,640 bit of additional analysis. 390 00:26:54,640 --> 00:27:00,160 And I'm happy to share the backup materials that we prepared for city council with this 391 00:27:00,160 --> 00:27:01,160 board. 392 00:27:01,160 --> 00:27:07,680 It'll be published this afternoon, so. 393 00:27:07,680 --> 00:27:10,840 I think that's it for today. 394 00:27:10,840 --> 00:27:15,320 Next thing is our next meeting date is scheduled for March 4th. 395 00:27:15,320 --> 00:27:16,680 And that would be our regular meeting. 396 00:27:16,680 --> 00:27:19,600 This meeting today is a special meeting. 397 00:27:19,600 --> 00:27:25,040 So it kind of puts us out of our every other month usual meetings. 398 00:27:25,040 --> 00:27:32,460 So I don't know if you want to keep the March 4th meeting or how would you like to proceed? 399 00:27:32,460 --> 00:27:35,320 So I think now too, we're open for further discussion. 400 00:27:35,320 --> 00:27:43,840 This agenda item doesn't have a vote or recommendation, but I will also comment that the March 4th 401 00:27:43,840 --> 00:27:48,880 date does come directly after the presentation. 402 00:27:48,880 --> 00:27:50,440 That's actually the incorrect date. 403 00:27:50,440 --> 00:27:51,440 It's March 24th. 404 00:27:51,440 --> 00:27:52,440 Okay. 405 00:27:52,440 --> 00:27:58,920 Sorry, we meet on the fourth Wednesday of the month at noon. 406 00:27:58,920 --> 00:28:01,960 It should be March 24th. 407 00:28:01,960 --> 00:28:10,320 But it still will be our first meeting following the presentation of the study, right? 408 00:28:10,320 --> 00:28:12,080 Yes. 409 00:28:12,080 --> 00:28:14,520 But we're now open for discussion. 410 00:28:14,520 --> 00:28:17,320 Just raise your hand and unmute yourself. 411 00:28:17,320 --> 00:28:19,320 Ben? 412 00:28:19,320 --> 00:28:31,840 I'm absolutely fine with the fourth if we want to do it then. 413 00:28:31,840 --> 00:28:37,840 Is everyone available for the 24th, which is the regularly scheduled one though? 414 00:28:37,840 --> 00:28:39,000 Just raise your hand. 415 00:28:39,000 --> 00:28:40,000 Yes. 416 00:28:40,000 --> 00:28:41,000 Yeah. 417 00:28:41,000 --> 00:28:42,000 Yeah. 418 00:28:42,000 --> 00:28:46,600 And also now, thank you, Coven, we do all send out the calendar appointment and check 419 00:28:46,600 --> 00:28:51,600 with everyone in advance and if we have a lot of that date doesn't work, I know they're 420 00:28:51,600 --> 00:28:57,600 in March, spring break sometimes can get a little difficult, but we'll adjust as needed. 421 00:28:57,600 --> 00:29:01,800 We're as flexible as we need to be. 422 00:29:01,800 --> 00:29:04,600 Any further discussion? 423 00:29:04,600 --> 00:29:06,760 Okay. 424 00:29:06,760 --> 00:29:13,400 The final order of business is item two, concluding items, is there any other business to discuss? 425 00:29:13,400 --> 00:29:18,320 Raise your hand and I'll call on you. 426 00:29:18,320 --> 00:29:21,280 No additional items to discuss there. 427 00:29:21,280 --> 00:29:22,560 We get to adjourn. 428 00:29:22,560 --> 00:29:29,280 The adjourn minutes is 1230 PM. 429 00:29:29,280 --> 00:29:30,280 That's it. 430 00:29:30,280 --> 00:29:31,280 Thank you so much. 431 00:29:31,280 --> 00:29:32,280 Thank you. 432 00:29:32,280 --> 00:29:33,280 Thank you all for your support. 433 00:29:33,280 --> 00:29:34,280 Bye everyone. 434 00:29:34,280 --> 00:29:34,280 Bye.