1 00:00:00,000 --> 00:00:08,820 Okay, it's 9.02 and we have a quorum, so we're called to order the Public Utilities Board 2 00:00:08,820 --> 00:00:13,880 for the City of Denton from Monday, August 22nd, 2022. 3 00:00:13,880 --> 00:00:17,280 The first item is presentations from members of the public. 4 00:00:17,280 --> 00:00:22,480 Does anyone from the public wish to address the board? 5 00:00:22,480 --> 00:00:25,180 Seeing none, the next is the consent agenda. 6 00:00:25,180 --> 00:00:27,880 We have items A through E. 7 00:00:27,880 --> 00:00:31,240 Does any board member wish to pull an item on the consent? 8 00:00:31,240 --> 00:00:32,480 Item B is in boy. 9 00:00:32,480 --> 00:00:35,120 B is in boy, Mr. Jumper. 10 00:00:35,120 --> 00:00:36,120 Anyone else? 11 00:00:36,120 --> 00:00:38,380 Item E, item E. 12 00:00:38,380 --> 00:00:43,280 E as in Edward? 13 00:00:43,280 --> 00:00:44,280 Echo. 14 00:00:44,280 --> 00:00:45,280 Yes. 15 00:00:45,280 --> 00:00:46,280 All right, any others? 16 00:00:46,280 --> 00:00:50,720 All right, do we have a motion to approve items A, C, and D? 17 00:00:50,720 --> 00:00:55,540 Mr. Beck is moved and Barbara's seconding, all in favor say aye. 18 00:00:55,540 --> 00:00:56,540 Aye. 19 00:00:56,540 --> 00:00:57,540 Aye. 20 00:00:57,540 --> 00:00:58,540 Please. 21 00:00:58,540 --> 00:00:59,540 Item B. 22 00:00:59,540 --> 00:01:00,860 Is someone here to? 23 00:01:00,860 --> 00:01:10,960 I kind of know who I'm asking questions to. 24 00:01:10,960 --> 00:01:13,840 Howdy. 25 00:01:13,840 --> 00:01:16,440 Hello. 26 00:01:16,440 --> 00:01:22,760 So, just wanted to kind of clarify the purpose of this. 27 00:01:22,760 --> 00:01:26,760 I'm assuming it's just mostly for like remote communication between sites, is that it? 28 00:01:26,760 --> 00:01:27,760 It is. 29 00:01:27,760 --> 00:01:28,760 Okay. 30 00:01:28,760 --> 00:01:32,480 It's how we communicate between remotes and other water plant at Ray Roberts. 31 00:01:32,480 --> 00:01:40,600 And then is there any alternative option for anything like this, or what, I guess why is 32 00:01:40,600 --> 00:01:42,600 this what you need and not something different? 33 00:01:42,600 --> 00:01:43,600 Talk me through that. 34 00:01:43,600 --> 00:01:52,200 Well, this is what we've had for a number of years, this microwave network, the radiocommunication. 35 00:01:52,200 --> 00:02:00,800 There is talk about maybe looking at fiber, but that's very costly, especially going to 36 00:02:00,800 --> 00:02:02,640 Ray Roberts. 37 00:02:02,640 --> 00:02:08,640 So we're just, this radio network is efficient and it works. 38 00:02:08,640 --> 00:02:13,480 So we just, you know, we keep a, have a contract so if anything goes wrong, let somebody that 39 00:02:13,480 --> 00:02:18,320 can repair it and replace radios as quickly as possible so we can keep our communications 40 00:02:18,320 --> 00:02:19,320 up. 41 00:02:19,320 --> 00:02:20,320 Yeah. 42 00:02:20,320 --> 00:02:21,320 Okay. 43 00:02:21,320 --> 00:02:30,840 Is the microwave only used for the kind of rural connection up to Ray Roberts or is it 44 00:02:30,840 --> 00:02:33,480 used in the city as well? 45 00:02:33,480 --> 00:02:38,600 Yes, it's used between all the remote locations like the elevated storage, the pump stations. 46 00:02:38,600 --> 00:02:42,640 Yeah, that's how we get all our data back and forth. 47 00:02:42,640 --> 00:02:43,640 Okay. 48 00:02:43,640 --> 00:02:46,600 So it's pretty much all major facilities then? 49 00:02:46,600 --> 00:02:47,600 Yes. 50 00:02:47,600 --> 00:02:48,600 Okay. 51 00:02:48,600 --> 00:02:49,600 Thank you. 52 00:02:49,600 --> 00:02:50,600 That it? 53 00:02:50,600 --> 00:02:51,600 All right. 54 00:02:51,600 --> 00:02:52,600 Do we have a motion to approve item B? 55 00:02:52,600 --> 00:02:53,600 Yes. 56 00:02:53,600 --> 00:02:54,600 Mr. Jumper moves. 57 00:02:54,600 --> 00:02:55,600 Do we have a second? 58 00:02:55,600 --> 00:02:56,600 Are there seconds? 59 00:02:56,600 --> 00:02:58,600 All in favor, say aye. 60 00:02:58,600 --> 00:02:59,600 Aye. 61 00:02:59,600 --> 00:03:13,040 Item E. Good morning, Stephen Gay, director of water utilities. 62 00:03:13,040 --> 00:03:14,040 Good morning. 63 00:03:14,040 --> 00:03:15,040 Good morning. 64 00:03:15,040 --> 00:03:17,140 I just had a few questions. 65 00:03:17,140 --> 00:03:21,200 So this agenda item doesn't have any cost on it but it's because we don't get the invoice 66 00:03:21,200 --> 00:03:23,240 until the Corps sends it to us. 67 00:03:23,240 --> 00:03:29,120 I was wondering, is it generally consistent or does it vary widely year to year? 68 00:03:29,120 --> 00:03:30,120 Yeah. 69 00:03:30,120 --> 00:03:34,400 I would say there's about, if you look over historically, about a three to eight percent 70 00:03:34,400 --> 00:03:40,200 increase every year that we've recognized on that cost. 71 00:03:40,200 --> 00:03:42,000 But it's fairly steady just? 72 00:03:42,000 --> 00:03:43,000 Yes. 73 00:03:43,000 --> 00:03:45,800 And what is the approximate amount, maybe last year or the year before? 74 00:03:45,800 --> 00:03:52,880 It's roughly a hundred and, for both facilities, for Lake Louisville and Ray Roberts, both 75 00:03:52,880 --> 00:03:58,440 dams, it's right around a hundred and thirty thousand dollars. 76 00:03:58,440 --> 00:04:01,520 That was last year, it was a hundred and thirty eight. 77 00:04:01,520 --> 00:04:02,520 Okay. 78 00:04:02,520 --> 00:04:10,040 And do we also have, we still have remaining bonds on Ray Roberts, right? 79 00:04:10,040 --> 00:04:12,520 That's a finance question but I don't believe we do. 80 00:04:12,520 --> 00:04:17,760 I believe that those have been satisfied, at least our obligation with the federal government 81 00:04:17,760 --> 00:04:19,040 has been satisfied. 82 00:04:19,040 --> 00:04:23,960 We may have a different financing mechanism that's still active but our obligation, our 83 00:04:23,960 --> 00:04:28,560 contractual obligation to the federal government has been resolved or has been satisfied. 84 00:04:28,560 --> 00:04:29,560 Okay. 85 00:04:29,560 --> 00:04:30,560 And then one last question. 86 00:04:30,560 --> 00:04:36,920 It mentioned in the agenda item information sheet that we're moving to a multi-year or 87 00:04:36,920 --> 00:04:40,520 are we currently on a multi-year or is this a new thing? 88 00:04:40,520 --> 00:04:43,740 This is a new thing that we're doing because historically what we have to do is when we 89 00:04:43,740 --> 00:04:47,840 get the bill we have to come before PUB and City Council to get authorization to make 90 00:04:47,840 --> 00:04:51,080 a payment that we're contractually bound to make. 91 00:04:51,080 --> 00:04:54,720 So we're trying to streamline the process and what we'll do is when we do make that, 92 00:04:54,720 --> 00:04:59,320 we accommodate for it in our budgeting process but when we receive the bill and we actually 93 00:04:59,320 --> 00:05:03,800 make the payment, we'll notify PUB and City Council that that payment has been made and 94 00:05:03,800 --> 00:05:06,040 that's, the intention is moving forward. 95 00:05:06,040 --> 00:05:11,160 Okay yeah, it makes a lot of sense to streamline this process but I was, like I said, curious 96 00:05:11,160 --> 00:05:15,040 if it varies widely year to year, it's a very consistent payment so thank you. 97 00:05:15,040 --> 00:05:18,280 You know it's a very, very small percentage increase every year and it's based off of 98 00:05:18,280 --> 00:05:21,200 the Corps of Engineers evaluation. 99 00:05:21,200 --> 00:05:22,200 Thanks. 100 00:05:22,200 --> 00:05:24,400 You're very welcome. 101 00:05:24,400 --> 00:05:27,320 Okay, do we have a motion to approve item E? 102 00:05:27,320 --> 00:05:28,320 So moved. 103 00:05:28,320 --> 00:05:29,320 Mr. Taylor moves. 104 00:05:29,320 --> 00:05:30,320 Larry Beck seconds. 105 00:05:30,320 --> 00:05:32,320 All in favor say aye. 106 00:05:32,320 --> 00:05:33,320 Aye. 107 00:05:33,320 --> 00:05:34,320 That carries. 108 00:05:34,320 --> 00:05:38,720 This item is considered the approval of the August 8th, 2022 minutes. 109 00:05:38,720 --> 00:05:41,200 Do we have any changes or corrections? 110 00:05:41,200 --> 00:05:45,640 Okay, do we have a motion to approve? 111 00:05:45,640 --> 00:05:46,640 Mr. Beck's motioning. 112 00:05:46,640 --> 00:05:47,640 Nope. 113 00:05:47,640 --> 00:05:50,080 Do we have a second? 114 00:05:50,080 --> 00:05:52,120 Okay, Ben Jumper seconds. 115 00:05:52,120 --> 00:05:53,720 All in favor say aye. 116 00:05:53,720 --> 00:05:54,720 Aye. 117 00:05:54,720 --> 00:05:55,720 Management reports. 118 00:05:55,720 --> 00:06:00,880 Madam Chair, members of PUB, so we have a couple items on here. 119 00:06:00,880 --> 00:06:07,340 The first one is two monthly reports for the DEC dashboard for April and May and then the 120 00:06:07,340 --> 00:06:12,440 only item that I'll mention that we did not include in the future agenda is that we are 121 00:06:12,440 --> 00:06:18,680 planning to come to the PUB on October 24th, that's our tentative date, to discuss the 122 00:06:18,680 --> 00:06:20,400 Greensense incentives program. 123 00:06:20,400 --> 00:06:27,120 As I mentioned before, we plan to go to the sustainability committee first in the PUB 124 00:06:27,120 --> 00:06:31,040 and my hope is that through that process we'll answer the two outstanding questions that 125 00:06:31,040 --> 00:06:34,160 we have on our list, Mr. Jumper's and Mr. Sof's as well. 126 00:06:34,160 --> 00:06:40,520 So with that, that's all I have, happy to answer any questions that you may have. 127 00:06:40,520 --> 00:06:41,520 Any questions? 128 00:06:41,520 --> 00:06:42,520 All right. 129 00:06:42,520 --> 00:06:47,000 Concluding items, I do need to read into the record that my absence for July 11th and August 130 00:06:47,000 --> 00:06:51,480 8th were approved by the City Council and Barbara's August 8th absence was approved 131 00:06:51,480 --> 00:06:52,480 by the City Council. 132 00:06:52,480 --> 00:06:59,040 Does any board member wish to add anything else or say anything that are concluding items? 133 00:06:59,040 --> 00:07:00,040 All right. 134 00:07:00,040 --> 00:07:05,040 Then we're into the work session. 135 00:07:05,040 --> 00:07:15,240 Good morning, my name's Erica Sullivan, I'm the Economic Development Administrator here 136 00:07:15,240 --> 00:07:19,720 for the City. 137 00:07:19,720 --> 00:07:23,720 And I'll be giving a presentation on the infrastructure financing policy for development 138 00:07:23,720 --> 00:07:27,960 plan line funds for water and sewer. 139 00:07:27,960 --> 00:07:31,960 So the objective of this presentation is provide background information and the recommended 140 00:07:31,960 --> 00:07:39,040 updates to the infrastructure financing policy for water and wastewater plan line funds. 141 00:07:39,040 --> 00:07:45,440 The policy was created in 1991 through Resolution 91008, which utilizes the City's water and 142 00:07:45,440 --> 00:07:47,920 wastewater development plan line funds. 143 00:07:47,920 --> 00:07:51,880 And this was designed to facilitate local economic development growth through a program 144 00:07:51,880 --> 00:07:54,000 of infrastructure financing. 145 00:07:54,000 --> 00:07:58,000 The program has been underutilized and has been allocated to a single project, Winko 146 00:07:58,000 --> 00:08:00,360 Foods, in 2015. 147 00:08:00,360 --> 00:08:04,520 Winko Foods was our first tenant in the West Park TURS, the tax increment reinvestment 148 00:08:04,520 --> 00:08:08,280 zone in our industrial area. 149 00:08:08,280 --> 00:08:14,400 They were building a 100,000 square foot facility, regional distribution facility, and they wanted 150 00:08:14,400 --> 00:08:19,560 to take on all of phase one improvements of the entire TURS in order to control the timeline 151 00:08:19,560 --> 00:08:21,560 for the construction of their facility. 152 00:08:21,560 --> 00:08:25,440 So we had to be real creative in how we decided to reimburse them. 153 00:08:25,440 --> 00:08:28,520 The grant actually includes five grants within one. 154 00:08:28,520 --> 00:08:31,240 One of the components is related to this. 155 00:08:31,240 --> 00:08:37,040 Winko received reimbursement of $1 million for water lines and $865,000 for sewer lines. 156 00:08:37,040 --> 00:08:42,960 It was greenfield, so new development, and it was lacking infrastructure. 157 00:08:42,960 --> 00:08:47,120 So both the city and the county participate into the West Park TURS at a rate of 40 percent, 158 00:08:47,120 --> 00:08:51,680 so they were granted a grant from the West Park TURS as well, ad valorem. 159 00:08:51,680 --> 00:08:55,000 And then they were also granted, that was 40 percent, 60 percent for the city. 160 00:08:55,000 --> 00:08:59,440 So in order to get 100 percent of their increment in order to reimburse, they also received 161 00:08:59,440 --> 00:09:04,120 a sales and use tax for construction for equipping the facility where we participate with a comptroller 162 00:09:04,120 --> 00:09:06,920 to do a Texas direct pay permit in order to do that. 163 00:09:06,920 --> 00:09:11,280 And then after that was reimbursed, they also received a grant from the city only for four 164 00:09:11,280 --> 00:09:12,760 years, for 60 percent. 165 00:09:12,760 --> 00:09:17,160 And they were, we're trying to reimburse $7.1 million for those improvements. 166 00:09:17,160 --> 00:09:22,840 If I may, thank you, Chair. 167 00:09:22,840 --> 00:09:25,080 We're, okay, so they took on the whole project. 168 00:09:25,080 --> 00:09:27,480 They got, they took on all of phase one of the TURS. 169 00:09:27,480 --> 00:09:30,160 They got the contractors, bought the materials and everything. 170 00:09:30,160 --> 00:09:35,320 Was the city involved in any way as far as making sure it was proper materials and? 171 00:09:35,320 --> 00:09:38,480 Yeah, we have to accept them, and yes, we were involved in that process. 172 00:09:38,480 --> 00:09:39,480 So they did have to go through that process. 173 00:09:39,480 --> 00:09:43,640 In order to get reimbursement too, they had to provide documentation in order to get reimbursement 174 00:09:43,640 --> 00:09:44,640 for this grant. 175 00:09:44,640 --> 00:09:45,640 Okay. 176 00:09:45,640 --> 00:09:46,640 That they were accepted. 177 00:09:46,640 --> 00:09:48,600 And they also had to have a CO and everything as well. 178 00:09:48,600 --> 00:09:49,600 Assumed too much. 179 00:09:49,600 --> 00:09:50,600 For most of the grants. 180 00:09:50,600 --> 00:09:54,840 Do we think that we, that the city overall, by doing it this way, saved money? 181 00:09:54,840 --> 00:09:55,840 Or would- 182 00:09:55,840 --> 00:09:56,840 It accelerated. 183 00:09:56,840 --> 00:09:57,840 It was definitely a catalyst. 184 00:09:57,840 --> 00:10:02,040 And you can, if you look at the West Park TURS now, this is one tenant in 2015 and it 185 00:10:02,040 --> 00:10:03,240 has grown exponentially. 186 00:10:03,240 --> 00:10:06,720 We can't even keep our maps up with how fast it's grown. 187 00:10:06,720 --> 00:10:07,720 Okay. 188 00:10:07,720 --> 00:10:11,560 So by doing it this way, the city really profited better. 189 00:10:11,560 --> 00:10:12,560 Yes. 190 00:10:12,560 --> 00:10:13,560 Yeah. 191 00:10:13,560 --> 00:10:14,560 It spurred additional development. 192 00:10:14,560 --> 00:10:15,560 Benefited. 193 00:10:15,560 --> 00:10:18,560 I don't know about profited, benefited. 194 00:10:18,560 --> 00:10:23,160 The cost benefit, yes. 195 00:10:23,160 --> 00:10:27,480 So we've been working to align our new strategic plan with all of our policies and we're updating 196 00:10:27,480 --> 00:10:29,520 this policy as well. 197 00:10:29,520 --> 00:10:33,600 You can see that the strategic plan, I'm going to give a high level overview, has five guiding 198 00:10:33,600 --> 00:10:34,600 principles. 199 00:10:34,600 --> 00:10:38,700 And these are what define how we do economic development in Denton. 200 00:10:38,700 --> 00:10:44,240 They're core resiliency, future focused, inclusive growth, entrepreneurial spirit and 201 00:10:44,240 --> 00:10:45,240 cultural vitality. 202 00:10:45,240 --> 00:10:49,960 And then we also have three goals that are building blocks in our strategic plan and 203 00:10:49,960 --> 00:10:54,800 that is to accelerate recovery, foster growth and strengthen community inclusion. 204 00:10:54,800 --> 00:10:58,640 Our plan was approved in late, I believe it was December of 2020. 205 00:10:58,640 --> 00:11:05,960 So we had started the process before COVID, but that ended up incorporating it into our 206 00:11:05,960 --> 00:11:11,080 strategic plan because of timing. 207 00:11:11,080 --> 00:11:14,840 So under accelerated recovery, we also have strategies under these. 208 00:11:14,840 --> 00:11:18,400 So we have the nerve center, taking pulse of the business community, virtual business 209 00:11:18,400 --> 00:11:24,180 retention because again, due to COVID, workforce collaboration, inclusive economic recovery 210 00:11:24,180 --> 00:11:28,920 and regional collaboration. 211 00:11:28,920 --> 00:11:33,160 So the recommended changes to the proposed policy that align with our strategic plan. 212 00:11:33,160 --> 00:11:36,920 The first major one is business retention and expansion has been added to the policy 213 00:11:36,920 --> 00:11:40,200 to be in line with our strategic plan. 214 00:11:40,200 --> 00:11:45,840 And under 1.12, we want to shift the focus of existing economic development structure 215 00:11:45,840 --> 00:11:50,520 from relief to cross-functional elements of economic recovery, such as business retention, 216 00:11:50,520 --> 00:11:55,120 which we have here, workforce and community services, which are all tied together. 217 00:11:55,120 --> 00:11:59,760 And under 1.3, we have the top economic development priority for the cities to continue supporting 218 00:11:59,760 --> 00:12:03,040 and retaining existing businesses through this recovery period. 219 00:12:03,040 --> 00:12:05,920 Again, keep in mind when this was approved. 220 00:12:05,920 --> 00:12:09,360 And we've conducted both in-person and virtual visits through this process. 221 00:12:09,360 --> 00:12:13,960 We've also awarded three expansion grants since 2020, so we're excited that we were 222 00:12:13,960 --> 00:12:19,040 able to continue moving throughout that process. 223 00:12:19,040 --> 00:12:24,240 So then we have foster growth in strategic areas for two. 224 00:12:24,240 --> 00:12:29,760 And goal number two is divided into four sections, connectivity, sustainability, creativity, 225 00:12:29,760 --> 00:12:34,920 and competitiveness. 226 00:12:34,920 --> 00:12:40,080 The next recommend change to align with the strategic plan involves Class A office space 227 00:12:40,080 --> 00:12:41,080 and mixed use. 228 00:12:41,080 --> 00:12:45,400 These have been added to commercial, retail, prospect section of the proposed policy to 229 00:12:45,400 --> 00:12:49,400 attract and support professional services and tech-oriented companies, particularly 230 00:12:49,400 --> 00:12:50,480 in our downtown core. 231 00:12:50,480 --> 00:12:56,320 So 2D2.1 is to sustain implementation of the downtown implementation plan, the DTIP, and 232 00:12:56,320 --> 00:13:00,400 the recommendations to create more mixed use pedestrian-friendly development, again, in 233 00:13:00,400 --> 00:13:03,320 our urban square and moving out from there. 234 00:13:03,320 --> 00:13:08,520 2D3.1 is to promote the development of Class A space for office space and creative redevelopment 235 00:13:08,520 --> 00:13:12,560 of existing structures to attract professional services and tech-oriented development. 236 00:13:12,560 --> 00:13:16,360 So we wanted to create infill development as well. 237 00:13:16,360 --> 00:13:22,200 And then 2D3.2 is utilize financial incentives to support the development of this office 238 00:13:22,200 --> 00:13:26,160 space. 239 00:13:26,160 --> 00:13:30,680 So I'm now going to go over the recommended interdepartmental changes to the policy. 240 00:13:30,680 --> 00:13:35,160 We mentioned the sales and use tax grant, and that's mentioned actually in the policy. 241 00:13:35,160 --> 00:13:37,320 So we have added the Texas Direct Pay Permit. 242 00:13:37,320 --> 00:13:41,800 This is a form and process that's done through the Comptroller, the Texas Comptroller of 243 00:13:41,800 --> 00:13:42,920 Public Accounts. 244 00:13:42,920 --> 00:13:46,480 And we've had this for two grants, for WinCo and O'Reilly, and it's worked really well. 245 00:13:46,480 --> 00:13:48,920 So we added that to the policy. 246 00:13:48,920 --> 00:13:51,760 Intermittent payments have been changed to quarterly payments, and this is to aid in 247 00:13:51,760 --> 00:13:55,520 the administration of the reimbursement so we can better plan for it. 248 00:13:55,520 --> 00:13:59,480 And then the Economic Development Partnership Board didn't exist at the time. 249 00:13:59,480 --> 00:14:03,880 So this is a '91 policy, so they weren't created until 2003. 250 00:14:03,880 --> 00:14:06,380 So we added our advisory board. 251 00:14:06,380 --> 00:14:10,440 And then staff has identified minor administrative changes, such as name of departments that 252 00:14:10,440 --> 00:14:15,880 has changed over time, like development services. 253 00:14:15,880 --> 00:14:18,120 And then some additional changes. 254 00:14:18,120 --> 00:14:20,280 We sent this to utilities. 255 00:14:20,280 --> 00:14:21,320 We sent it to legal. 256 00:14:21,320 --> 00:14:22,320 We sent it to finance. 257 00:14:22,320 --> 00:14:26,560 Of course, economic development reviewed it as well. 258 00:14:26,560 --> 00:14:27,560 And development services. 259 00:14:27,560 --> 00:14:30,760 We took all those comments and came up with the following changes. 260 00:14:30,760 --> 00:14:35,360 The finance requested that the change of the capital improvement budget to the operating 261 00:14:35,360 --> 00:14:40,520 fund, and then the dates were also removed since the appropriation is done annually by 262 00:14:40,520 --> 00:14:41,520 council. 263 00:14:41,520 --> 00:14:44,080 And the allocation was changed from $500,000 to $1 million. 264 00:14:44,080 --> 00:14:49,680 The obligated annual allocation remains at not to exceed $2 million at any given time. 265 00:14:49,680 --> 00:14:54,400 Again, WinCo got $1.8, and they were the only recipient so far. 266 00:14:54,400 --> 00:14:58,000 From talking with finance, I understand that they stepped it in. 267 00:14:58,000 --> 00:15:03,600 So it was like $500,000, $750,000 to $1 million, and then so on. 268 00:15:03,600 --> 00:15:09,280 The economic development benefits have changed from a five-year period to a 10-year period. 269 00:15:09,280 --> 00:15:12,080 And a cost-benefit percentages were removed. 270 00:15:12,080 --> 00:15:15,440 Standard economic development practice is 10 years, so we wanted to do a 10-year analysis 271 00:15:15,440 --> 00:15:17,240 since we'd be conducting it. 272 00:15:17,240 --> 00:15:22,800 We wanted to align it with our methods and our modeling tools. 273 00:15:22,800 --> 00:15:24,720 I'm happy to entertain questions. 274 00:15:24,720 --> 00:15:25,720 Questions? 275 00:15:25,720 --> 00:15:33,680 Not a question, but a statement, the fact that WinCo was willing to take this on probably 276 00:15:33,680 --> 00:15:39,560 expedited it greatly, and the city would have treated this as they do any other project with 277 00:15:39,560 --> 00:15:44,600 all the inspections and everything, as per usual, and we're pretty lucky on this. 278 00:15:44,600 --> 00:15:47,560 It was a great effort of public and private. 279 00:15:47,560 --> 00:15:49,560 I agree. 280 00:15:49,560 --> 00:15:52,640 Go ahead, Devin. 281 00:15:52,640 --> 00:15:57,160 So when was the last time this policy was updated? 282 00:15:57,160 --> 00:15:58,160 Do we know? 283 00:15:58,160 --> 00:15:59,160 '91, it looks like. 284 00:15:59,160 --> 00:16:04,280 I had to go back through laser fish files to look through it. 285 00:16:04,280 --> 00:16:08,560 The AIS has additional information not presented here, but yes. 286 00:16:08,560 --> 00:16:10,120 All the updates look really good. 287 00:16:10,120 --> 00:16:16,440 I have a concern on policies that might get updated every five or 10 years for putting 288 00:16:16,440 --> 00:16:24,200 COVID recovery into the policy that in a few years, like in 10 years, it might be this 289 00:16:24,200 --> 00:16:26,080 strange artifact. 290 00:16:26,080 --> 00:16:32,040 Is there a plan to update the policy regularly, or when you're referencing recovery on, I 291 00:16:32,040 --> 00:16:34,880 think, slide six, is that not going to be directly? 292 00:16:34,880 --> 00:16:40,080 I'm referencing recovery in the plan as it relates to business retention. 293 00:16:40,080 --> 00:16:47,300 So it doesn't specifically call out in the policy COVID or recovery in the actual infrastructure 294 00:16:47,300 --> 00:16:51,320 financing policy, but this is where it's coming from in the strategic plan. 295 00:16:51,320 --> 00:16:52,320 Okay. 296 00:16:52,320 --> 00:16:53,320 All right. 297 00:16:53,320 --> 00:16:56,080 So we're talking about just business retention and supporting existing businesses. 298 00:16:56,080 --> 00:16:57,080 Okay. 299 00:16:57,080 --> 00:16:58,200 And that's standard economic development practice. 300 00:16:58,200 --> 00:16:59,200 Right. 301 00:16:59,200 --> 00:17:02,600 I just wanted to make sure that we weren't saying COVID recovery, because in 2040 when 302 00:17:02,600 --> 00:17:05,520 we're updating the plan, we're like ... And we are going to look at it more often than 303 00:17:05,520 --> 00:17:08,440 it has been in the past, certainly. 304 00:17:08,440 --> 00:17:10,760 Thank you. 305 00:17:10,760 --> 00:17:14,240 Any questions? 306 00:17:14,240 --> 00:17:15,240 Any other questions? 307 00:17:15,240 --> 00:17:16,240 All right. 308 00:17:16,240 --> 00:17:17,240 Thank you. 309 00:17:17,240 --> 00:17:18,240 Thank you very much. 310 00:17:18,240 --> 00:17:19,240 All right. 311 00:17:19,240 --> 00:17:22,240 Do we have a motion to adjourn? 312 00:17:22,240 --> 00:17:24,240 It is 919. 313 00:17:24,240 --> 00:17:25,240 Okay. 314 00:17:25,240 --> 00:17:26,240 Adjourned. 315 00:17:26,240 --> 00:17:27,240 All right. 316 00:17:27,240 --> 00:17:27,240 Thank you.