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 All right good morning my name is Marty Rivers I'm the chair of the Economic

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 Development Partnership Board and we're going to call our meeting to order at

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 1104 a.m. and our first item up for consideration is EDP 18-051 which

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 is to elect our chairperson and vice-chairperson for the fiscal year

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 2018-2019 there's an information sheet and our ordinance that are attached to

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 your package. If anybody would like to make a motion I move Marty Rivers

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 continue as our chair. I'll second that. We can do a joint motion if somebody

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 wants to do that. Yes I will motion that John Baines stay our vice-chair. Second.

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 We have a motion and a second to nominate Marty and John as chair and

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 vice-chair respectively any further discussion? Nobody wants to jump out

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 there. All right all those in favor say aye. Aye. Any opposed? Motion carries thank

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 you and the big item today is EDP 18-042 which is to receive a report hold

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 discussion and make a recommendation to the City Council regarding an incentive

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 application from Tyson sales and distribution and Caroline will give us

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 the report.

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 Good morning Mr. chairperson and members of the board Caroline Booth director of

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 economic development and I am going to be presenting a request to you today from

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 Tyson sales and distribution for a project in Denton. Tyson foods is a very

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 well-known company they have had 38 billion dollars in sales in fiscal year

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 2017 and company-wide they do employ a hundred and twenty two thousand people.

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 Tyson sales and distribution in particular as a division of Tyson foods

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 provides refrigerated warehousing and distribution services for the company's

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 brands which do include Tyson, Jimmy Dean, Hillshire Farms, Ball Park, State Fair and

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 a number of other well-known brands. The company is based in Springdale, Arkansas

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 and one thing that I have learned about Tyson in the course of working with them

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 is that they are definitely as a company tuned in to sustainability and they

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 identify five different areas of sustainability that they believe are

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 interconnected but they do have some corporate sustainability initiatives

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 that they felt was they wanted me to know about and to share with you all for

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 example they do have a goal between 2015 and 2020 to reduce their overall water

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 consumption by 12 percent as an effort to support their environmental

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 sustainability pillar and a big thing that they do to to support their

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 communities is providing hunger relief in the form of donating either cash gifts

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 or in-kind gifts of product and they're hoping to achieve a goal of fifty

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 million dollars worth of cash or in-kind donations to reduce hunger by 2020 they've

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 already spent 45 million dollars on that effort so I've been impressed to learn

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 about a little bit about their corporate culture and some of the things that they

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 value as a business to talk specifically about the project that they're

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 considering in Denton this at full build out would be a 350,000 square foot very

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 highly automated refrigerated distribution center as you all are

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 familiar we do have a number of refrigerated distribution facilities in

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 Denton Target US cold storage and so on this particular facility would ship

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 about 700 million pounds of product annually they're anticipating having a

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 hundred full-time benefits eligible employees their average wage is

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 anticipated to be just under $25 an hour which is about 12 percent higher than

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 Denton County's average wage which is something that we reference specifically

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 in the council adopted economic development incentive policy that we

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 want to target employers who are providing average wages higher than the

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 county's average the project in particular is gonna expand Tyson's

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 service capacity to help enable company growth anticipate and serve the needs of

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 their customers and improve reaction time to customer needs the facility as I

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 said is going to be highly automated it's gonna contain automated storage and

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 retrieval systems including stacker stacker cranes gantry robots they're

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 gonna have a monorail system it sounds like it's gonna be very complex and I'll

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 tell you a little bit more about the investment in the automated portion of

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 the facility in a little bit as far as what their location considerations are

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 for the project they're looking at workforce availability return on

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 investment utilities infrastructure proximity to customers and ease of

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 implementation of the project and if anybody's got questions as I'm going

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 through this please ask me as I go along I did have a question yes sir John

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 Baines a question was you referenced a item that was very interesting the hunger

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 reduction going from 45 million to 50 mm-hmm are you able to elaborate on

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 what they're doing to kind of address the so is it is it in our area or is it

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 nationwide it's nice it's a nationwide corporate effort yes and if I wasn't

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 clear they they have between this was a goal they established in 2015 to span

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 the time period of 2015 to 2020 for that 50 million dollar total giving either

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 cash or in kind and they've achieved 45 million dollars of that and it is

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 nationally sure on the average hourly rate that takes in management everyone

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 right yes do we know what the median hourly rate is then we can get that for

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 you it was probably a part of the application but I don't have the number

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 in front of me right now so we can find that out there's a breakdown on page

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 17 of management maintenance and so it is in the packet thank you thanks Marty

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 and one other question on the project sites is Denton a viable selection are

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 they looking at Indiana Arkansas Utah and Denton right I mean I will get to

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 that right now the short answer is yes the company has been considering sites

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 in three other states as you can see up there the Denton site is absolutely

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 viable very competitive it's important to note that the land sale for the

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 Denton site has not closed yet that's that's always something that we want to

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 make sure that everyone's aware of is the stage and of the land acquisition

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 process so they are not closed they're in in contract negotiations Denton is

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 the sole Texas site and as you can see from the map the proposed site is

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 outlined in red they have the option of taking that entire site or they may just

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 take the northern portion of the site that has not been settled on yet any more

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 questions about site or yes ma'am

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 natural are those natural ponds in this type flood area over here are there any

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 ESA's on the property no there are no ESA's on that property and this is this is a little

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 bit of an older aerial because US cold storage is now right in this area so

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 that was a man-made stockpond I'll go over the fiscal information with you the

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 current conditions are that the land has an AG exemption so you can see that

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 because of that land certified valuation is low and the estimated total tax

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 revenue that it's generating is a big whopping $23.08 a year what we have done

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 to estimate the ad valorem valuation annual revenue is there in the chart

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 below that we're estimating with their capital investments a total valuation of

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 a little over fifty one million dollars when the project is complete and then

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 you can also see moving down the columns that the estimated tax increment

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 reinvestment zone the West Park hers revenue is 40% that's estimated a little

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 over $52,000 a year the city's portion the other 60% is $268,000 for a total

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 gross revenue of $320,000 a year it's critically important to point out at

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 this point that the business personal property investment and all that

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 automation inside the facility is going to equate to about 30 million dollars

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 that is a hugely significant amount of investment in business personal

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 property and that revenue created by that particular category of property is

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 not captured by the TERS so all of that revenue hundred eighty nine thousand

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 seven hundred dollars in annual revenue will go straight into the city's general

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 fund and 40% of that is not diverted into the TERS does anybody have any

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 questions about that okay that makes this a unique project as far as the

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 incentive request Tyson is asking for a tax abatement specifically an abatement

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 to offset development costs and to enable their application for Denton

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 County tax abatement and the Texas enterprise zone program grant from the

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 state as far as the priority considerations under the city's economic

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 development incentive policy the project meets these following four things

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 investment in business in the community expanding the tax base increasing jobs

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 with wages above Denton County's average and generating significant new customer

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's for municipal utilities this is a little bit hard to see but it is in your

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 backup this is our full analysis of the particular projects and what staffs

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 recommendation is as far as an incentive we start with the assumptions up there on

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 the top that include the revenue generated by the different categories of

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 the project and then what the annual Denton municipal electric economic

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 growth rider demand charge would be and we have talked about the DME economic

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 growth rider before and I will touch more specifically on it in a couple of

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 different and a couple of slides ahead the first line here depicts the TERS

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 revenue from the land and improvements only not from the business personal

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 property that's the top line there and we are looking at this on a 10-year time

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 horizon because that allows us to compare apples to apples for different

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 projects when we're looking at what the return on investment is even though

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 we're recommending a six-year tax abatement we have information here that

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 goes beyond that to a 10-year total and some of y'all will be familiar with

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 having seen this type of analysis in the past again it's it's for uniform

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 comparison of projects over that uniform horizon of 10 years does anyone have any

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 questions about any of this I'm gonna highlight some of these numbers on the

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 next slide but I just wanted to put this up there for y'all to see I'm the slow

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 one in the bunch I'm gonna ask you a couple of questions here on that first

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 line it says TERS fund 40% at 52,000 is the estimated revenue estimated revenue

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 and then the 47 represents what down below on the next one okay the 47 is the

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 25% tax abatement on the business personal property only that we're

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 proposing for the incentive so that's that's 47 is 25% of the business

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 personal property revenue only up above the is that the 189 yes 189-700 okay I

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 was just trying to get my numbers together there thank you okay anybody

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 else before we go on to next slide that has bigger numbers more specific yes

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 did the other places that were in competition with have the electrical

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 incentives that we have as far as I know no I've seen the list of incentive

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 programs that they have and they're more traditional either tax-based or based on

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 a cash grant upfront from either state level or city level economic development

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 corporations so those are pretty unique to our city I don't this case the other

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 locations don't have municipal electric companies okay so cities that have

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 municipal electric companies often have programs like economic growth rider but

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 the competitor cities and the other places don't have municipal electric okay

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 so just to reiterate staff's analysis and our recommendation is for a 25% tax

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 abatement on the revenue from business personal property only for a term of six

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 years that is a total abatement to Tyson of 284 thousand five hundred and fifty

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 dollars the city stands to gain eight hundred and fifty three thousand dollars

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 of revenue on the remaining 75% of the business personal property only and so

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 the total revenue to the city again on business personal property only over

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 that ten-year horizon so this one sorry I'm not talking into the microphone is

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 one point six million dollars total over ten years on BPP only any questions

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 about that has this been discussed with them at all with Tyson yes yes we told

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 them what we were proposing as a staff recommendation so was this was the did

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 it pique their interest yes okay thank you okay here's a little bit more

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 information about the economic growth rider as I mentioned before significant

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 consumers of municipal utilities are a recruitment target under the city's

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 policy and the reason for that is because large customers in sectors like

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 manufacturing or refrigerated storage and distribution they use energy

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 consistently around the clock and the benefit of that is that this type of

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 steady industrial users allows DME to purchase power at a lower price and

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 receive excuse me a better rate of return overall because of that

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 consistent use and that helps keeps rate helps keep rates steady for all rate

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 payers across the city in all different kinds of user categories so DME's

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 economic growth rider is a recruitment tool to secure that particular type of

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 desirable customer so what that is again there's a little bit of a review the DME

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 EGR is a five-year sliding scale reduction in the demand charge available

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 to qualifying commercial and industrial customers only so you have to you have

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 to have a certain level of demand to be qualified for that Tyson's demand is

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 anticipated to be two megawatts per year which would solidly qualify them and

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 we estimate the total reduction in their demand charges to be slightly under

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 $500,000 over that five-year time frame you also heard me mention that Tyson is

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 planning to apply for an incentive from the county and for the state as well

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 it's critical to remember that a city incentive is necessary for Tyson to move

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 forward with applications to both of those bodies in particular Denton County

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 will only consider granting a tax abatement to an applicant that has

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 received a tax abatement from a city first and then the Texas Enterprise Zone

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 program is a state refund based on capital investment and job creation in

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 economically distressed areas which this area they're considering does count as

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 economically distressed and local incentives are required for that

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 program as well is Denton considered economically distressed that particular

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 part of Denton is thank you sure so to wrap up with options and staff

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 recommendation we have three options a 25% tax abatement on business personal

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 property only for a term of six years plus the DME economic growth rider if

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 the company qualifies you also have the option to consider a different percentage

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 or term of tax abatement the EGR again if they qualify and then the third

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 option would be to not offer them a tax abatement they could still receive the

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 EGR if they're qualified but that would preclude them from applying for a tax

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 abatement from Denton County the staff recommendation is option one for a total

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 incentive of seven hundred and thirty four thousand four hundred and thirty six dollars over

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 six years for the abatement portion of that over five years for the economic

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 growth rider and I am happy to take any more questions to help you with your

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 discussion question yes sorry you had a question so on the on the chart the

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 majority of the people working they're going to make $20 an hour and the one

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 listed is a little bit higher than that that said it was about the average wage

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 so what is the average wage it is 22 let's see

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 $22 and seven cents so the majority of the people that are going to hire the

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 higher number is going to make less than that so is that your your estimations

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 then on it having a higher than average is just the average of what they're

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 proposing all the employees I just got a comment so 700 million pounds of frozen

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 food that's a lot of weight and so I think about that's about 14,000

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 trailers over the course of a year are gonna be on that road and that's only if

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 they use the rail spurs if they don't then that would be double that amount so

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 I just something to consider for like when the council considers it it's not

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 nice to see several million pounds that's that's a big number but the real

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 impact is 14,000 trucks and trailers on that road over that same 10-year period

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 I would imagine that there would be some maintenance that would have to be at

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 least considered as an offset to that amount of traffic so we are excuse me

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 working closely with our various departments engineering development

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 services to ensure that the proper traffic studies are done that we're

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 anticipating appropriately for the increased truck traffic that this

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 project and a number of other coming projects are going to bring so

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 absolutely a good thing to bring up and consider just to make sure that

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 everybody knows that we work together to anticipate those needs in this

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 particular area and infrastructure is being upgraded to account for that

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 yeah and on that note I actually made a comment on my notes here for that we're

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 talking about ways to reduce transit from companies because of the air

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 quality and so this is going to be adding several more but my question was

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 more about the transit was it going to be by train trucks you know their

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 primary method of transport is going to be trucks but they do have rail spur

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 access and of course that makes it an option for them to move goods that way

225
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 as well but their primary method is going to be trucks so do they plan on

226
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 using the rail spur I guess that's they're not going deep into that yet

227
00:22:15,960 --> 00:22:21,000
 again they're they're considering it as an option but it's not it wasn't a

228
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 primary driver for their location decision to have rail access which gets

229
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 to my question if they don't plan on using that today extensively and there

230
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 I mean I guess it's up to the land seller but if you're selling land that's

231
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 on the rail that's a long section of the rail spur then they're taking that up

232
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 not using it that somebody that needs it and it is up to the seller who also owns

233
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 the rails for one more question so when we offer this incentive to this wide

234
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 receiver do you think we'll be able to sign them I certainly hope so I feel

235
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 positive about it okay thank you so how did we arrive at 25% over six years

236
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 that's consistent with what we have been offering to the last couple of folks

237
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 who have come and applied for incentives

238
00:23:17,400 --> 00:23:27,520
 they deal with animals and there's some not so pleasant incidents that have

239
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 happened in their facilities for animal cruelty have they made a statement or

240
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 talk to you about about any of that no because this facility is is only going

241
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 to be storage and transportation of already processed food so it's not going

242
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 to involve any kind of live animals in this facility so we haven't discussed

243
00:23:46,760 --> 00:24:01,720
 that on the state incentive somebody slept since we've talked about this but

244
00:24:01,720 --> 00:24:05,360
 at one time the state if we were competing with other states the state

245
00:24:05,360 --> 00:24:09,200
 would kick in money to help attract those is that still available and an

246
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 option it is available but this project isn't going to qualify for that

247
00:24:14,560 --> 00:24:18,520
 particular program hot-tacker

248
00:24:18,520 --> 00:24:36,280
 other questions or comments I'm not necessarily in favor of option one I'd

249
00:24:36,280 --> 00:24:41,560
 like to see a little bit of different term and I think that the EGR is is

250
00:24:41,560 --> 00:24:46,600
 really great for us to have and I'm pretty sure they would qualify for that

251
00:24:46,600 --> 00:24:55,360
 with the amount of energy that they're gonna use less tax incentive and more

252
00:24:55,360 --> 00:25:06,640
 regional no no not that's that's already said I just with it with the amount of the higher the

253
00:25:06,640 --> 00:25:10,800
 higher wages only going to a few a few of the workers and 60 of them they're

254
00:25:10,800 --> 00:25:16,760
 making less than average I just kind of have a you know and then the company's

255
00:25:16,760 --> 00:25:21,960
 reputation and I really appreciate that they do plant that they have higher

256
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 goals of helping those that are food insecure and sustainability and that's

257
00:25:27,800 --> 00:25:39,600
 why I'm willing to work on the terms a little bit but only on the calculation

258
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 of average wages because Steve meant medium wage which is a little bit

259
00:25:45,640 --> 00:25:52,520
 different but we're using average for all of our incentive requests so I mean

260
00:25:52,520 --> 00:25:59,880
 whether see everybody's point there's 60 people to make $20 an hour out of 60

261
00:25:59,880 --> 00:26:06,480
 percent of the employees make less than then the Denton County average but the

262
00:26:06,480 --> 00:26:12,040
 fact is the average is still 20 almost $25 an hour and that's how we calculate

263
00:26:12,040 --> 00:26:15,500
 that for everybody that comes through there so looking at that differently

264
00:26:15,500 --> 00:26:21,320
 would not necessarily be fair not that everything's fair but that's how we

265
00:26:21,320 --> 00:26:25,080
 calculate it if we need to look at it differently than I would like the city

266
00:26:25,080 --> 00:26:28,920
 needs to or we would need to make a request to use median or something

267
00:26:28,920 --> 00:26:33,800
 different if you have three high paying people and the thousand low paying

268
00:26:33,800 --> 00:26:38,040
 people and you know that average might be different so I'm just saying it's

269
00:26:38,040 --> 00:26:43,080
 we're doing it the same way consistently with it and it does state in the policy

270
00:26:43,080 --> 00:26:48,360
 that we're looking at average wages for the county so it would make sense that

271
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 when we request that information and calculate it we're using the average

272
00:26:52,320 --> 00:27:01,320
 instead of the median so that I guess my point is like based on how we have it

273
00:27:01,320 --> 00:27:13,200
 written they qualify for that higher higher wage has so on the EGR does the

274
00:27:13,200 --> 00:27:16,760
 public utility board have to approve that and make the recommendation of

275
00:27:16,760 --> 00:27:21,960
 council or how's that work no sir they don't that is the EGR is adopted each

276
00:27:21,960 --> 00:27:28,840
 year when the rate schedules are adopted so it's in the rate book and if the

277
00:27:28,840 --> 00:27:34,360
 company qualifies under the terms that are set forth in the rate book they

278
00:27:34,360 --> 00:27:40,500
 qualify for it and there's no further approval so there so that we're not

279
00:27:40,500 --> 00:27:44,440
 really making a recommendation on that part of it that's just that's correct I

280
00:27:44,440 --> 00:27:49,640
 feel like it's important to present a full picture of the incentives that a

281
00:27:49,640 --> 00:27:54,040
 company could stand to receive from the city and that is an incentive even though

282
00:27:54,040 --> 00:27:59,160
 it's not a tax-based incentive and they do automatically qualify for it but it

283
00:27:59,160 --> 00:28:07,880
 is still expenditure of city funds to incentivize a company mr. Evers please

284
00:28:07,880 --> 00:28:12,940
 I've got just a little off of the line of questioning but can you tell me how

285
00:28:12,940 --> 00:28:18,480
 they came to us was it something that one of the departments did how did they

286
00:28:18,480 --> 00:28:24,120
 find it Tyson reached out to my department directly thank you mm-hmm

287
00:28:24,120 --> 00:28:30,400
 is that the one through the state or anybody they just called that's correct

288
00:28:30,400 --> 00:28:46,360
 this is a bothersome question or a comment in negotiation sometimes you can

289
00:28:46,360 --> 00:28:50,440
 just kind of go with the first blush or we can kind of do a little back and

290
00:28:50,440 --> 00:28:59,000
 forth so with all the discussion on the wages it does seem a little low and the

291
00:28:59,000 --> 00:29:03,320
 question then is are we in a position to ask them to bump it a little bit you

292
00:29:03,320 --> 00:29:08,120
 know to make it a little more attractive for our community so I can definitely

293
00:29:08,120 --> 00:29:15,320
 give them that feedback anybody else feel anything on that I guess I would

294
00:29:15,320 --> 00:29:23,600
 hate to turn them away no this is consistent with I'd like to compare what

295
00:29:23,600 --> 00:29:26,480
 incentives we give to other people what those numbers were I don't have that in

296
00:29:26,480 --> 00:29:34,840
 front of me so I don't know well US cold storage we gave them a similar package

297
00:29:34,840 --> 00:29:40,160
 and I don't have on I can't remember exactly what their wages were so it may

298
00:29:40,160 --> 00:29:48,000
 be the same and my impression would be that that rate is going to be they're

299
00:29:48,000 --> 00:29:52,760
 going to be competing with a lot of people for those same employees at that

300
00:29:52,760 --> 00:29:57,960
 wage that would be my impression I brought up the median simply because I

301
00:29:57,960 --> 00:30:04,320
 do think that it was a better impression of just what the workforce work base is

302
00:30:04,320 --> 00:30:09,720
 really looking at I wasn't aware that we had traditionally I should have the

303
00:30:09,720 --> 00:30:14,240
 tradition looked at an average but I do think there's a difference in just in

304
00:30:14,240 --> 00:30:18,440
 the perspective of that the optics

305
00:30:18,440 --> 00:30:26,440
 that was just a comment rather than a suggestion

306
00:30:37,200 --> 00:30:43,680
 only we're comparing to Denton County average that's average didn't county no

307
00:30:43,680 --> 00:30:49,280
 matter how many people are CEOs or factory workers or whatever so it's

308
00:30:49,280 --> 00:31:07,120
 really is apples and apples anybody like to make a motion I make

309
00:31:07,120 --> 00:31:13,400
 the motion that we accept the recommendation of the staff with this

310
00:31:13,400 --> 00:31:21,960
 particular economic incentive got a motion and a second any further

311
00:31:21,960 --> 00:31:32,280
 discussion I guess I'll admit to say if you look at the team your average what

312
00:31:32,280 --> 00:31:37,000
 we're expecting on five million dollars revenue to the city and just the 25

313
00:31:37,000 --> 00:31:45,040
 percent abatement on business personal property it's really a pretty small

314
00:31:45,040 --> 00:31:50,800
 incentive package for such a large company coming to town so all those in

315
00:31:50,800 --> 00:32:16,800
 favor say aye motion carries all right good discussion that still has to go to

316
00:32:16,800 --> 00:32:22,000
 City Council that's correct we are slated to do a work session with City

317
00:32:22,000 --> 00:32:31,760
 Council on the 27th of November for this item good job on that thank you all

318
00:32:31,760 --> 00:32:39,720
 right the next item is it EDP 18-054 we're going to get an update on our

319
00:32:39,720 --> 00:32:43,320
 annual marketing plan from the Chamber of Commerce Office of Economic

320
00:32:43,320 --> 00:32:52,880
 Development Adam Gavresky will give the report today

321
00:32:52,880 --> 00:33:00,080
 hi everyone I'm here to give the chambers economic development annual

322
00:33:00,080 --> 00:33:04,360
 marketing plan overview and review of what we're what our plans are for the

323
00:33:04,360 --> 00:33:18,160
 18-19 19 year things we're going to be going over is the number one the

324
00:33:18,160 --> 00:33:22,280
 timeline for print and digital ad buys we don't do a whole lot of advertising

325
00:33:22,280 --> 00:33:25,880
 there are 10 to 15 different economic development things that we can

326
00:33:25,880 --> 00:33:29,680
 advertise and we choose our our top two that are more targeted towards the

327
00:33:29,680 --> 00:33:35,160
 state advertisement and towards the DFW regional advertisement so that all the

328
00:33:35,160 --> 00:33:38,040
 brokers and real estate people in the area have our contact information and

329
00:33:38,040 --> 00:33:42,040
 and our ad and keep them up to date on things that we're doing through that

330
00:33:42,040 --> 00:33:47,600
 through that visual ad maintenance and updates to didn't EDP comm is our

331
00:33:47,600 --> 00:33:52,400
 current website that we're using to generate traffic to and promote our

332
00:33:52,400 --> 00:33:58,520
 community number three is platforms and schedule of social media and planned

333
00:33:58,520 --> 00:34:05,480
 marketing trips the first ad that we do per year is the site selection magazines

334
00:34:05,480 --> 00:34:09,680
 Texas wide open for business guide such selection magazine is it's a

335
00:34:09,680 --> 00:34:13,560
 international publication for economic development it goes out to site

336
00:34:13,560 --> 00:34:19,840
 locators and company executives and this particular issue has a Texas polybag

337
00:34:19,840 --> 00:34:23,920
 edition so it's all Texas communities so we advertise in that to make sure that

338
00:34:23,920 --> 00:34:30,160
 we keep keep on top of everyone's radar we also do an ED directory listing

339
00:34:30,160 --> 00:34:33,600
 inside selection magazine and this is in their annual economic development guide

340
00:34:33,600 --> 00:34:40,000
 that gives the context for each individual community and then the other

341
00:34:40,000 --> 00:34:43,200
 main advertisement that we do is the Dallas regional chambers economic

342
00:34:43,200 --> 00:34:45,280
 development guide so this is the one that goes out to all the brokers and

343
00:34:45,280 --> 00:34:54,360
 real estate people within the DFW Metroplex one other small insertion that

344
00:34:54,360 --> 00:34:58,880
 we do it's not an ad it's just it's kind of a little insertion that we buy that

345
00:34:58,880 --> 00:35:01,800
 goes in the in the middle of this magazine it's in business expansion

346
00:35:01,800 --> 00:35:07,080
 journal and the web banner on the side that you see is a it's an economic

347
00:35:07,080 --> 00:35:10,360
 development marketing company a small boutique marketing company in the DFW

348
00:35:10,360 --> 00:35:15,080
 area that represents us at certain trade shows and things like that we have a

349
00:35:15,080 --> 00:35:18,680
 small web banner on their website as well and they generate 30,000 traffic

350
00:35:18,680 --> 00:35:25,400
 hits per per month and that directs directly to our website maintenance and

351
00:35:25,400 --> 00:35:31,560
 updates to didn't EVP calm we we have a checkpoint list of about here and how

352
00:35:31,560 --> 00:35:37,120
 many items do you think 35 things that we go through every single month so we

353
00:35:37,120 --> 00:35:41,560
 keep that all that data up-to-date on the didn't need p.com website so it's

354
00:35:41,560 --> 00:35:45,600
 important to keep all demographics and all building the sites and everything

355
00:35:45,600 --> 00:35:48,400
 accurate on that website and it's so that's we put in a lot of effort and

356
00:35:48,400 --> 00:35:51,560
 work so that all the sites to let site selectors and brokers and real estate

357
00:35:51,560 --> 00:35:54,560
 people that go to that website have all that data in case they choose not to

358
00:35:54,560 --> 00:35:58,840
 call us directly and then also photo updates we can't we are constantly

359
00:35:58,840 --> 00:36:02,480
 keeping up-to-date photos on the website and refreshing those making sure that

360
00:36:02,480 --> 00:36:09,400
 they're high resolution and things like that platforms the schedule of social

361
00:36:09,400 --> 00:36:15,160
 media LinkedIn is what we start we use LinkedIn to target the site selectors

362
00:36:15,160 --> 00:36:20,520
 brokers and realtors across the entire country and worldwide for that matter we

363
00:36:20,520 --> 00:36:25,720
 update that bi-monthly or send out a bi-monthly advertisement through LinkedIn

364
00:36:25,720 --> 00:36:30,000
 Facebook is we kind of we use that more for advertising to the local community

365
00:36:30,000 --> 00:36:33,000
 and keeping them up-to-date on things that are going in on an economic

366
00:36:33,000 --> 00:36:37,280
 development from the chamber from the city or whatever is going on at that

367
00:36:37,280 --> 00:36:42,400
 moment but we try to post at least one item weekly I think we're doing probably

368
00:36:42,400 --> 00:36:46,640
 a little bit more than that but at least one weekly and then Twitter we do weekly

369
00:36:46,640 --> 00:36:50,200
 as well and this goes to everybody who are our current followers and site

370
00:36:50,200 --> 00:36:54,240
 selectors and real estate people and also quite a few people in the in the

371
00:36:54,240 --> 00:37:02,300
 community as well mark last item is marketing trips we we have a few that

372
00:37:02,300 --> 00:37:06,400
 are operations funded out of the city general fund budget that comes to the

373
00:37:06,400 --> 00:37:10,920
 development and some that are private funded which is the majority and

374
00:37:10,920 --> 00:37:14,960
 operations funded or perfect they also fund professional development forums

375
00:37:14,960 --> 00:37:20,560
 which we do for per year want something to do estate and into their international

376
00:37:20,560 --> 00:37:24,440
 economic development forums and in target marketing and then private the

377
00:37:24,440 --> 00:37:29,840
 private funding funds all target marketing aside from that the the two

378
00:37:29,840 --> 00:37:33,200
 that are funded through operations that are professional development there they

379
00:37:33,200 --> 00:37:37,260
 are listed again the Texas Economic Development Council so it's it's we do

380
00:37:37,260 --> 00:37:39,360
 two of those per year it's where everybody in the state gets together and

381
00:37:39,360 --> 00:37:41,560
 then we get to hear the governor's office come in and speak then we meet

382
00:37:41,560 --> 00:37:45,120
 with regional representatives and everybody from the state that comes and

383
00:37:45,120 --> 00:37:48,960
 everybody that they invite as well the International ED Council is similar

384
00:37:48,960 --> 00:37:53,240
 except for it's it's open to economic developers worldwide it's it's mostly

385
00:37:53,240 --> 00:37:56,840
 within the United States but you'll have people people from all different states

386
00:37:56,840 --> 00:38:01,900
 and governors and everybody else that shows up to those things and then target

387
00:38:01,900 --> 00:38:07,460
 marketing a few items that are funded through operations team Texas it's a

388
00:38:07,460 --> 00:38:11,200
 state team Texas a statewide Martian marketing initiative and it's a pay to

389
00:38:11,200 --> 00:38:16,400
 play initiative there's about 110 communities right now currently us being

390
00:38:16,400 --> 00:38:20,640
 one of those so we were planning to do two trips with team Texas through the

391
00:38:20,640 --> 00:38:23,920
 operations budget and those are typically through target market trade

392
00:38:23,920 --> 00:38:28,800
 shows such as trade shows that would be fun that would be within our target

393
00:38:28,800 --> 00:38:32,460
 market so Fabtech is one that we just did for instance which is metal forming

394
00:38:32,460 --> 00:38:38,960
 fabrication welding high-energy users and then those high-paged high-paying

395
00:38:38,960 --> 00:38:43,600
 advanced manufacturing types of operations so two of those advanced

396
00:38:43,600 --> 00:38:48,080
 manufacturing expo is coming up in January it's it's one that I've done

397
00:38:48,080 --> 00:38:53,280
 every year for a few years now and it's your advanced manufacturing companies a

398
00:38:53,280 --> 00:38:55,680
 lot of them are centered in New York which is why I like it because you get

399
00:38:55,680 --> 00:38:59,240
 to meet with a lot of those companies that are you know hopefully looking to

400
00:38:59,240 --> 00:39:04,800
 jump ship in their future and we try to meet with them and and tell them did it

401
00:39:04,800 --> 00:39:08,480
 message and what we have available to them as well Southern Economic

402
00:39:08,480 --> 00:39:12,400
 Development Council one of those is planned through the professional or I'm

403
00:39:12,400 --> 00:39:15,280
 sorry to the operations budget DFW marketing team we have two of those trips

404
00:39:15,280 --> 00:39:21,160
 planned DFW marketing team is a regional collaboration that is run through the

405
00:39:21,160 --> 00:39:26,840
 Dallas regional chamber and I think there's about 13 16 counties now that

406
00:39:26,840 --> 00:39:32,480
 they cover didn't Tarrant wise and all the way out to Rockwell County I think

407
00:39:32,480 --> 00:39:37,200
 even up as far as Kaufman County but we have the option they take usually seven

408
00:39:37,200 --> 00:39:40,880
 to ten I'm sorry five to seven communities when we when we do a

409
00:39:40,880 --> 00:39:44,400
 traveling mission to let's say one of the larger major metros such as Chicago

410
00:39:44,400 --> 00:39:49,200
 LA or Atlanta and we go visit with brokers consultants seal all executives

411
00:39:49,200 --> 00:39:52,720
 and disappointments that they set up for us we go and present ourselves as a as a

412
00:39:52,720 --> 00:39:57,040
 as a region and then we get our elevator speech to to present our community as

413
00:39:57,040 --> 00:40:00,500
 well so I think those are definitely important they've been very beneficial

414
00:40:00,500 --> 00:40:07,920
 and so two of those are requested as well net car is the North Texas

415
00:40:07,920 --> 00:40:12,400
 Commercial Association of realtors expo this is something that we've done for

416
00:40:12,400 --> 00:40:15,680
 the past five years here and my predecessor might have done it a few

417
00:40:15,680 --> 00:40:19,080
 years before that but I've done for five years we have actually have a booth it's

418
00:40:19,080 --> 00:40:23,520
 down in Dallas so it's all the Dallas in Fort Worth real estate people that come

419
00:40:23,520 --> 00:40:28,360
 to the same it's very well attended we always get anywhere from 60 to 100 new

420
00:40:28,360 --> 00:40:31,080
 contacts from our contacts that we that we already know and then some new ones

421
00:40:31,080 --> 00:40:34,040
 but we always come back with 60 to 100 cars we follow up with we send them our

422
00:40:34,040 --> 00:40:37,800
 market materials and brochures and you know we're calling on them we get we

423
00:40:37,800 --> 00:40:40,680
 always get a few leads from this thing it's one of the one of the best things

424
00:40:40,680 --> 00:40:46,000
 we do I think in the year and then so those were all through the operations

425
00:40:46,000 --> 00:40:50,480
 budget then to private to the private budget it's all target marketing area

426
00:40:50,480 --> 00:40:55,480
 development forums I have two of those budgeted for these are forums that are

427
00:40:55,480 --> 00:41:00,240
 hosted in a given region but they typically this area development is a

428
00:41:00,240 --> 00:41:03,360
 magazine but they actually host these consultant forums and they'll bring in

429
00:41:03,360 --> 00:41:09,480
 anywhere from 18 to 25 consultants per per event and then we get to go and

430
00:41:09,480 --> 00:41:13,120
 network with them and we get we get one-on-one meetings with each and every

431
00:41:13,120 --> 00:41:16,400
 one of them to give them our marketing materials and tell them about new

432
00:41:16,400 --> 00:41:19,240
 updates that we have buildings and sites that we have going on and and the

433
00:41:19,240 --> 00:41:21,840
 brokers that in real estate people that come to these things are all people that

434
00:41:21,840 --> 00:41:26,360
 work national projects so they are people that would work a project in the state

435
00:41:26,360 --> 00:41:33,480
 of Texas at some point the consultant connect forum which is they call it the

436
00:41:33,480 --> 00:41:38,280
 economics forum but they do one of those per year they started doing it three

437
00:41:38,280 --> 00:41:42,280
 years ago I've done it all three years it's a great form similar to economic

438
00:41:42,280 --> 00:41:46,720
 development or the area development forum there's always 20 20 plus

439
00:41:46,720 --> 00:41:50,560
 consultants there and we do the same thing it's one-on-one meetings and you

440
00:41:50,560 --> 00:41:53,160
 give them your materials and tell them about buildings and sites and new

441
00:41:53,160 --> 00:41:56,280
 updates that you have within the city and it's always important we try to keep

442
00:41:56,280 --> 00:41:59,880
 our real estate in front of them so all new buildings any new spec buildings

443
00:41:59,880 --> 00:42:05,360
 that are coming up or any properties that we're trying to push and new we tell

444
00:42:05,360 --> 00:42:07,400
 them about new products that we have coming in and new products that we've

445
00:42:07,400 --> 00:42:11,680
 landed in the last few years and I think that helps drive interest to our to our

446
00:42:11,680 --> 00:42:17,440
 community IMC two of those plan for that's the International Asset Management

447
00:42:17,440 --> 00:42:22,800
 Council this is mainly comprised of it's it's really half economic developers and

448
00:42:22,800 --> 00:42:26,640
 then the rest are comprised of company executives that handle real estate

449
00:42:26,640 --> 00:42:31,280
 within a within a firm for instance we got we recruited Penske trucks from this

450
00:42:31,280 --> 00:42:35,080
 from this particular from one of these actually a couple years ago is a smaller

451
00:42:35,080 --> 00:42:40,040
 operation but about 15 to 20 jobs we met them here and they ended up locating

452
00:42:40,040 --> 00:42:43,760
 here so it's it's typically somebody like Penske or Coca-Cola or Frito-Lay who

453
00:42:43,760 --> 00:42:48,680
 would have their real estate people at these things so we kind of eliminates

454
00:42:48,680 --> 00:42:51,840
 the middleman the real estate brokers that we would typically market to and go

455
00:42:51,840 --> 00:42:56,680
 straight to to these firms another Southern Economic Development Councils

456
00:42:56,680 --> 00:43:00,600
 annual meet the consultants forum we have budgeted through here through

457
00:43:00,600 --> 00:43:04,260
 private we had one through operations one through private the site selectors

458
00:43:04,260 --> 00:43:08,420
 guild is another one similar to these two the first consultants forums that I

459
00:43:08,420 --> 00:43:11,960
 mentioned except for this one is the one of the larger ones so there's typically

460
00:43:11,960 --> 00:43:16,880
 40 to 50 brokers and consultants and for them for these consultants get invited

461
00:43:16,880 --> 00:43:20,400
 to the site selectors guild they have to work there's a threshold they have to

462
00:43:20,400 --> 00:43:24,200
 meet of annual projects that they work on and products they've located with

463
00:43:24,200 --> 00:43:27,120
 their with capital investment based a new job so they have to meet a

464
00:43:27,120 --> 00:43:32,520
 threshold so that's one of the best best times to do for the year in a type one

465
00:43:32,520 --> 00:43:35,800
 marketing trips we have two of those budgeted for that's where I typically go

466
00:43:35,800 --> 00:43:40,420
 alone and I'll go to a major metro area Atlanta Chicago or LA and I'll preset my

467
00:43:40,420 --> 00:43:43,240
 own appointment so I'll be calling brokers and companies that we've been

468
00:43:43,240 --> 00:43:46,840
 working on in the past or companies that I know that are relocating or

469
00:43:46,840 --> 00:43:50,600
 expanding and then we go make our own personal appointments face-to-face with

470
00:43:50,600 --> 00:43:57,240
 them and then two more of the team Texas industry targeted shows that I mentioned

471
00:43:57,240 --> 00:44:03,220
 before budgeted through this one that concludes that my presentation is there

472
00:44:03,220 --> 00:44:06,680
 any questions or feedback

473
00:44:06,680 --> 00:44:14,840
 okay we can you remind me or what is your marketing budget for separate from

474
00:44:14,840 --> 00:44:19,280
 the trade show budgets that you attend or is it all one it's separate it's

475
00:44:19,280 --> 00:44:22,540
 separate we have a separate we keep a separate line up for the print and what

476
00:44:22,540 --> 00:44:28,320
 did do you know I don't know what the total is I know for the for the one ad

477
00:44:28,320 --> 00:44:34,720
 we we spend around three grand a year the other one is about 4,000 so I think

478
00:44:34,720 --> 00:44:39,240
 we're spending about 7,000 for the year I'm just down the ads are you talking

479
00:44:39,240 --> 00:44:43,800
 about for the total marketing I don't know the exact number right now I can

480
00:44:43,800 --> 00:44:47,080
 get that for you and email it to you are you talking about through operations

481
00:44:47,080 --> 00:44:51,720
 funded or both yeah just what you spend on on marketing total marketing yeah we

482
00:44:51,720 --> 00:45:00,680
 can do that I have a question please Adam can you describe your your operation

483
00:45:00,680 --> 00:45:06,960
 as Spartan or are you are you incorporating your wish list here where

484
00:45:06,960 --> 00:45:11,200
 are we in the spectrum I mean I think we're aggressive aggressive very

485
00:45:11,200 --> 00:45:14,760
 aggressive okay yes okay so there's more and more aggressive communities and in

486
00:45:14,760 --> 00:45:19,080
 the Metroplex okay I mean as far as our spending are we being our spending yes

487
00:45:19,080 --> 00:45:24,120
 where we're aggressive where we're aggressive okay we are we're doing the

488
00:45:24,120 --> 00:45:27,680
 things that that make the most give us the Mustang for our buck okay I mean

489
00:45:27,680 --> 00:45:30,600
 there's a there's a ton of other things that we could be doing but these are the

490
00:45:30,600 --> 00:45:35,920
 things that prove beneficial and you know there's a handful of us that do

491
00:45:35,920 --> 00:45:39,000
 these things you know it's San Antonio Dallas Fort Worth they're doing all in

492
00:45:39,000 --> 00:45:44,000
 Plano and there's a reason why there's a slight you know there's typically 15 to

493
00:45:44,000 --> 00:45:47,440
 20 of us that are all seem to all be doing the same thing but I mean there's

494
00:45:47,440 --> 00:45:49,480
 a ton of things you can choose from these are the things that are proven

495
00:45:49,480 --> 00:45:52,800
 effective these are where the big brokers and big real estate people are

496
00:45:52,800 --> 00:45:58,160
 going sometimes in budgets people come in with a just a bare minimums wish list

497
00:45:58,160 --> 00:46:01,360
 but this is more of a no it's not bare minimum there's a bare minimum I wouldn't

498
00:46:01,360 --> 00:46:06,520
 be doing this much stuff we're doing more than than what is expected so thank

499
00:46:06,520 --> 00:46:09,200
 you very much absolutely

500
00:46:09,560 --> 00:46:21,160
 something that we can identify that we've done in our marketing plan that

501
00:46:21,160 --> 00:46:27,440
 would have brought them to us directly I think my marketing perspective well it's

502
00:46:27,440 --> 00:46:30,280
 the marketing I think I think all these companies are hearing about us

503
00:46:30,280 --> 00:46:36,200
 especially food related products such as Tyson US cold storage Winko foods target

504
00:46:36,200 --> 00:46:39,320
 I think they're all hearing about us you know through marketing in various means

505
00:46:39,320 --> 00:46:44,040
 Tyson for instance they were working with a broker called bins wanger which

506
00:46:44,040 --> 00:46:47,320
 is out of Dallas homes Davis is something I've been talking to for years

507
00:46:47,320 --> 00:46:50,360
 and years so they were working through a broker and consultant but then they had

508
00:46:50,360 --> 00:46:54,840
 their company with the folks with Tyson calling Caroline and calling I guess

509
00:46:54,840 --> 00:46:58,080
 there are other states and stuff like that the broker is you know doing the

510
00:46:58,080 --> 00:47:01,840
 site selection work while the company was doing the standard work did that

511
00:47:01,840 --> 00:47:08,040
 answer your question I mean the marketing yes we do have a cluster here

512
00:47:08,040 --> 00:47:13,920
 of food especially refrigerated distribution and like Adam said when

513
00:47:13,920 --> 00:47:20,880
 these large projects start gathering in a community word gets around so but

514
00:47:20,880 --> 00:47:25,640
 every that's always the challenging thing about I mean I think about economic

515
00:47:25,640 --> 00:47:29,880
 development in general and particularly the marketing side of it is you're out

516
00:47:29,880 --> 00:47:37,040
 there planting seeds and it can take it can take years for them to bloom and also

517
00:47:37,040 --> 00:47:42,080
 you never know how word gets around it's a pretty small tight-knit group of

518
00:47:42,080 --> 00:47:49,520
 people so all of the things that Adam does lead to outcomes you know whether

519
00:47:49,520 --> 00:47:54,240
 it's a clear direct line from one thing to the next or it's a little bit more

520
00:47:54,240 --> 00:47:57,960
 roundabout you know all of the things that he does all the things that my

521
00:47:57,960 --> 00:48:02,560
 office does it works together to create these opportunities so that's a little

522
00:48:02,560 --> 00:48:06,480
 bit more of a philosophical answer we have you know we have a specific target

523
00:48:06,480 --> 00:48:09,600
 markets that we go after the advancing me I know food related products aren't a

524
00:48:09,600 --> 00:48:12,080
 specific target market but they fall under that advanced manufacturing

525
00:48:12,080 --> 00:48:18,120
 category I do actually target market the food related brokers and consultants on

526
00:48:18,120 --> 00:48:21,120
 I constantly look at the CB Richard Ellis website or the grub and Alice new

527
00:48:21,120 --> 00:48:23,400
 more tonight Frank look at their websites and they have global food

528
00:48:23,400 --> 00:48:26,640
 properties groups and they have a director within that group who I've been

529
00:48:26,640 --> 00:48:31,680
 reaching out to and sending out fires to you and calling and not just from that

530
00:48:31,680 --> 00:48:36,440
 not from Dallas also but from you know Orlando from Atlanta Chicago LA New

531
00:48:36,440 --> 00:48:40,920
 York New Jersey each each one of these firms has people that work food related

532
00:48:40,920 --> 00:48:44,360
 products some that just weren't distribution only some that work high

533
00:48:44,360 --> 00:48:52,240
 tech and office projects and stuff like that so thank you sure I think talk

534
00:48:52,240 --> 00:48:57,800
 about the budget might be good to remind everybody on the chamber side that Adams

535
00:48:57,800 --> 00:49:03,600
 budget has to get presented to the Denton Chamber Board and he gives a

536
00:49:03,600 --> 00:49:08,080
 presentation of those folks so he's doing this on both sides citywide and

537
00:49:08,080 --> 00:49:12,560
 that so it he comes up with it it gets talked about at the chamber board then

538
00:49:12,560 --> 00:49:16,760
 it gets presented to the city on the total budget so right we get to see that

539
00:49:16,760 --> 00:49:20,040
 several times and it's keep in mind it's a completely separate budget from the

540
00:49:20,040 --> 00:49:22,480
 chamber so economic development is completely separate separate bank

541
00:49:22,480 --> 00:49:25,560
 accounts we don't pull funds from chamber chamber doesn't pull funds from

542
00:49:25,560 --> 00:49:29,300
 us completely separate economic development accounts and we do have a

543
00:49:29,300 --> 00:49:31,840
 we have two separate accounts within our economic development accounts so we have

544
00:49:31,840 --> 00:49:35,900
 the private and the operations funds that comes from the city the private is

545
00:49:35,900 --> 00:49:40,520
 what all of you guys give us through private investment individual companies

546
00:49:40,520 --> 00:49:48,000
 within the community Marty didn't the joint agreement was was ratified or

547
00:49:48,000 --> 00:49:53,140
 approved for the next calendar year the city okay it has it's been approved as

548
00:49:53,140 --> 00:49:57,160
 part of that 2018-19 contract with the city that's we have to give an annual

549
00:49:57,160 --> 00:50:01,400
 marketing presentation on our plans for the next year and we do that our fiscal

550
00:50:01,400 --> 00:50:07,880
 year started October 1st so we have to do it every November it's hard it's

551
00:50:07,880 --> 00:50:10,760
 hard I've been doing this a while it's hard for me to keep up with all the

552
00:50:10,760 --> 00:50:16,840
 acronyms and there's lots to hear that and be reminded what all we're doing out

553
00:50:16,840 --> 00:50:22,560
 there and it does Caroline said it does take a long time to meet somebody three

554
00:50:22,560 --> 00:50:26,560
 years ago at one of the conferences and remember that we're on the map and it's

555
00:50:26,560 --> 00:50:30,800
 at the same time we do have a little bit of a snowball effect going here with the

556
00:50:30,800 --> 00:50:40,320
 food distribution industry it is pretty high-tech so anyway thank you Adam you

557
00:50:40,320 --> 00:50:45,320
 make have you else anything to ask good presentation thank you thank you thank

558
00:50:45,320 --> 00:50:53,440
 you we have the minutes to approve from our September 12th meeting it was

559
00:50:53,440 --> 00:51:00,320
 previously distributed and happens to be on page 47 in your booklet so we need to

560
00:51:00,320 --> 00:51:04,360
 approve those if somebody wants to make a motion I move to accept the minutes as

561
00:51:04,360 --> 00:51:13,960
 presented we have a motion and a second any discussion

562
00:51:13,960 --> 00:51:36,280
 absent motion and a second to approve the minutes as amended any further

563
00:51:36,280 --> 00:51:44,400
 discussion all those in favor say aye aye any opposed the minutes are approved

564
00:51:44,400 --> 00:51:58,200
 and we have staff reports does Caroline so I will let you guys know that you are

565
00:51:58,200 --> 00:52:04,880
 not seeing a monthly report from city's economic development side in your packet

566
00:52:04,880 --> 00:52:09,320
 here because we're gonna be revamping the reports that we present to you based

567
00:52:09,320 --> 00:52:15,320
 on the city's new strategic plan and our new departmental strategic plan which

568
00:52:15,320 --> 00:52:19,520
 are still in process of being finalized right now we want to make sure that

569
00:52:19,520 --> 00:52:25,840
 we're reporting to all of you on all of the strategic aspects that we're working

570
00:52:25,840 --> 00:52:30,440
 on during the year so we're still tracking our activity and you'll be

571
00:52:30,440 --> 00:52:36,560
 seeing that in a beautiful new report as soon as we can get those strategic plans

572
00:52:36,560 --> 00:52:43,720
 finalized the thing that I would like to let you all know about is Christina

573
00:52:43,720 --> 00:52:49,280
 Davis is going to stand up at the podium and tell us about this year's shop

574
00:52:49,280 --> 00:53:05,120
 holiday campaign quickly this year for the shop small Saturday last year we had

575
00:53:05,120 --> 00:53:10,520
 a wonderful turnout with people shopping and visiting but one of the components

576
00:53:10,520 --> 00:53:14,040
 of the feedback that I received from the businesses is that they want to focus on

577
00:53:14,040 --> 00:53:17,800
 what they do best in that serving their customers and so what we decided to do

578
00:53:17,800 --> 00:53:22,000
 this year is this really focus strongly on our education campaign for the

579
00:53:22,000 --> 00:53:26,640
 community and instead of just focusing on one day or one single event we're

580
00:53:26,640 --> 00:53:31,040
 spreading it out from November 1st to December 31st so we've updated our

581
00:53:31,040 --> 00:53:36,480
 economic development website for this shop Denton texas.com website and our

582
00:53:36,480 --> 00:53:41,840
 Facebook page and every day you'll see a wonderful new post for me just giving

583
00:53:41,840 --> 00:53:44,960
 you a little tidbits of information about why it's important to shop local

584
00:53:44,960 --> 00:53:50,860
 and about any special events or special programming that's happening through the

585
00:53:50,860 --> 00:53:55,840
 community as far as retail or service industries they might have so I hope

586
00:53:55,840 --> 00:53:59,720
 that you will check out the Facebook page and see what's happening in the

587
00:53:59,720 --> 00:54:04,480
 community and if you have any questions or any suggestions I'd love to hear them

588
00:54:04,480 --> 00:54:12,800
 Christina also wrote the cover story for this upcoming citizen update newsletter

589
00:54:12,800 --> 00:54:18,480
 that everybody gets in their mailboxes we all seen that if you live in Denton so

590
00:54:18,480 --> 00:54:23,680
 it is about the shop small program so that goes directly to all of the folks

591
00:54:23,680 --> 00:54:29,000
 within the community so we're hoping to see a big turnout and good participation

592
00:54:29,000 --> 00:54:36,640
 in the longer long period instead of the one-day event. That's a good reminder too

593
00:54:36,640 --> 00:54:41,200
 I know when we're posting those things on Facebook and LinkedIn or whatever just

594
00:54:41,200 --> 00:54:49,280
 to remind everybody to follow economic development and why I can spread the

595
00:54:49,280 --> 00:54:58,040
 word and share all those good things that just helps. Adam anything

596
00:54:58,040 --> 00:55:08,960
 on the chamber activity? I am okay thank you. This way your started October 1st so

597
00:55:08,960 --> 00:55:13,040
 it blocks our slate clean for new starting the new new projects year we

598
00:55:13,040 --> 00:55:20,240
 had eight eight total prospects for the month of October we had two different

599
00:55:20,240 --> 00:55:25,040
 companies one is product Tom Collins which I'll go into in the next bracket

600
00:55:25,040 --> 00:55:29,960
 and then project give as well and I know now both of them are talking with the

601
00:55:29,960 --> 00:55:33,560
 city but both of them are looking to do speculative industrial developments

602
00:55:33,560 --> 00:55:36,520
 which we're seeing a trend for right now don't think it's gonna stop for a while

603
00:55:36,520 --> 00:55:40,640
 even once these three or four close on their products I think we're gonna see

604
00:55:40,640 --> 00:55:44,440
 it's still a trend of people coming in to do build these industrial speculative

605
00:55:44,440 --> 00:55:49,160
 buildings and then we'll in turn have to still go market to fill those spaces but

606
00:55:49,160 --> 00:55:52,860
 you know people are seeing the dollar signs on building these big

607
00:55:52,860 --> 00:55:56,400
 spec industrial develops and leasing out the space so that you can subdivide the

608
00:55:56,400 --> 00:56:00,680
 space so for instance product Tom Collins is going to look at building 1.5

609
00:56:00,680 --> 00:56:04,520
 million square feet of spec industrial space on the 104 acre site at the

610
00:56:04,520 --> 00:56:09,080
 corner of 380 and Western Boulevard directly across from where Lee Ramsey and

611
00:56:09,080 --> 00:56:14,840
 Brandon Martino are doing the Westgate business park now under that 1.5 million

612
00:56:14,840 --> 00:56:18,040
 square feet one one building in particular will be 1 million square feet

613
00:56:18,040 --> 00:56:20,800
 and the other two will be you know make up the other five thousand five million

614
00:56:20,800 --> 00:56:24,680
 square feet but that will be the largest square footage size building we have in

615
00:56:24,680 --> 00:56:28,280
 dip right now Winkle Foods is eight hundred sixty thousand square feet so

616
00:56:28,280 --> 00:56:31,640
 we'll have a one million square footer sitting there that's just one that came

617
00:56:31,640 --> 00:56:36,600
 into a site in the last month but can I add something about the spec

618
00:56:36,600 --> 00:56:44,200
 development so all told we have three million square feet of speculative

619
00:56:44,200 --> 00:56:49,000
 industrial space that is in various stages of land acquisition from letter of

620
00:56:49,000 --> 00:56:55,800
 intent to actual contract negotiation right now that is going to fill up the

621
00:56:55,800 --> 00:57:03,480
 remaining large tracks in West Park in the West Park Ters and then that tracked

622
00:57:03,480 --> 00:57:08,240
 outside of the West Park Ters in Westgate business park so we have been

623
00:57:08,240 --> 00:57:15,400
 having internal discussions about where do we go with industrial development when

624
00:57:15,400 --> 00:57:20,760
 that space is not available anymore and so we've been the natural place is sort

625
00:57:20,760 --> 00:57:27,920
 of north and west of I-35 and 380 so just so that you guys are aware those

626
00:57:27,920 --> 00:57:31,400
 conversations are happening and we'd like to bring some information back to

627
00:57:31,400 --> 00:57:35,840
 you about that when we have some more details to share with you as you all are

628
00:57:35,840 --> 00:57:41,600
 probably aware the city is updating the development code update updating the

629
00:57:41,600 --> 00:57:47,520
 future land use plans updating zoning regulations so there are a lot of moving

630
00:57:47,520 --> 00:57:52,880
 pieces right now but we are thinking about and planning for the future where

631
00:57:52,880 --> 00:57:57,100
 that's where that is going to go so it's good to have those open lines of

632
00:57:57,100 --> 00:58:03,240
 communication I think a couple of items on that too one where once these sites

633
00:58:03,240 --> 00:58:06,400
 are under contracting these they're building these buildings we're not done

634
00:58:06,400 --> 00:58:09,360
 so we still have to go fill these buildings so we're gonna have you know

635
00:58:09,360 --> 00:58:12,400
 like she said three million square feet of industrial speculative space that we

636
00:58:12,400 --> 00:58:16,000
 still have to go and fill which is hopefully a good handful of projects but

637
00:58:16,000 --> 00:58:19,360
 and it might even be more than three million now a couple new ones that are

638
00:58:19,360 --> 00:58:23,560
 that are looking here and then there's a there's some more land up on the north

639
00:58:23,560 --> 00:58:26,920
 side of you know north of 380 that you know we'd have to get private developers

640
00:58:26,920 --> 00:58:31,140
 to come in and because we don't have the 4a and 4b funds to for the city to go

641
00:58:31,140 --> 00:58:33,800
 and purchase land and develop it we'd have to bring in developers in the

642
00:58:33,800 --> 00:58:38,880
 future to try to develop those sites as well so anyway it's a work in progress

643
00:58:38,880 --> 00:58:41,520
 it's a good thing to have it'll be a good thing to have those sites on those

644
00:58:41,520 --> 00:58:45,960
 buildings on the ground so product Tom Collins I went over a product Gibb is

645
00:58:45,960 --> 00:58:48,760
 another one that's looking to do speculative industrial space he's

646
00:58:48,760 --> 00:58:51,560
 looking at three different sites I mentioned Collins is looking at they're

647
00:58:51,560 --> 00:58:55,160
 gonna they're under contract right now on 104 acre side product Gibb is looking

648
00:58:55,160 --> 00:58:59,240
 at three sites each one is over 30 acres it'll be smaller scale speculative

649
00:58:59,240 --> 00:59:04,280
 industrial development for his project product Berg office is a company it's a

650
00:59:04,280 --> 00:59:06,840
 lecture a local company they're in Denton County but they're over in

651
00:59:06,840 --> 00:59:10,080
 crossroads right now and they want to expand into Denton they would bring in

652
00:59:10,080 --> 00:59:15,880
 20 new jobs they're really just looking for a 5,000 square feet of office space

653
00:59:15,880 --> 00:59:22,360
 to put into 20 offices for 20 people product Hunter is a broker that we're

654
00:59:22,360 --> 00:59:26,980
 working on searching for 50 to 80 acre size to construct more industrial

655
00:59:26,980 --> 00:59:30,120
 speculative space and this is one that we're that we don't have figured into

656
00:59:30,120 --> 00:59:33,680
 that 3 that 3 million square feet already but they would be looking at

657
00:59:33,680 --> 00:59:37,280
 doing another 600,000 square foot facility so even besides what we already

658
00:59:37,280 --> 00:59:40,360
 have that we think that it's under contract currently at 3 million square

659
00:59:40,360 --> 00:59:44,600
 feet we have three more in the lineup that are looking at other sites as well

660
00:59:44,600 --> 00:59:49,920
 they just aren't under contract yet project Tomahawk consulting firm

661
00:59:49,920 --> 00:59:52,560
 searching for a location for a corporate headquarters and manufacturing

662
00:59:52,560 --> 00:59:58,600
 facility for their clients roughly 12 acres of land or an existing 40 to 100

663
00:59:58,600 --> 01:00:01,520
 thousand square foot facility they're considering all options 40 to 100

664
01:00:01,520 --> 01:00:05,560
 thousands of a large bracket but they're looking at options within that that

665
01:00:05,560 --> 01:00:11,480
 bracket as well trips and marketing activity over the last month in October

666
01:00:11,480 --> 01:00:15,800
 the Texas Economic Development Council had their annual conference which is a

667
01:00:15,800 --> 01:00:19,320
 professional development forum which I went over that one earlier and then IEDC

668
01:00:19,320 --> 01:00:23,080
 which is International Economic Development Council had had theirs as

669
01:00:23,080 --> 01:00:27,960
 well in Carolina and I both attended that attended the team Texas board

670
01:00:27,960 --> 01:00:31,360
 meeting I currently hold a board position on that board met with team

671
01:00:31,360 --> 01:00:35,640
 Texas director to discuss future strategy and partnership team Texas once

672
01:00:35,640 --> 01:00:37,800
 again the statewide marketing initiatives so we're doing a lot of

673
01:00:37,800 --> 01:00:40,800
 marketing with them and I think we're trying to plan for trips this year to do

674
01:00:40,800 --> 01:00:46,280
 with team Texas also met with the Fort Worth chamber representatives over at

675
01:00:46,280 --> 01:00:49,720
 the Fort Worth chamber they have two new people that they brought in one from a

676
01:00:49,720 --> 01:00:53,280
 regional group called Columbus 2020 and another group in Nashville that runs a

677
01:00:53,280 --> 01:00:56,480
 regional organization those are the two new guys headed spearheading the

678
01:00:56,480 --> 01:00:59,120
 economic development through the Fort Worth chamber they're trying to do a

679
01:00:59,120 --> 01:01:04,640
 kind of regional approach for I-35 West communities we don't have a name for it

680
01:01:04,640 --> 01:01:08,880
 so it's really just communities from a resort that has didn't as far south as

681
01:01:08,880 --> 01:01:13,000
 Burleson all the communities on I-35 W which I think the main three players are

682
01:01:13,000 --> 01:01:17,040
 Denton Fort Worth and Burleson at the moment but so we're just trying to

683
01:01:17,040 --> 01:01:19,840
 figure out what to you know what we can do as a region in terms of you know

684
01:01:19,840 --> 01:01:26,280
 marketing and maybe future marketing trips and stuff like that so attended

685
01:01:26,280 --> 01:01:31,080
 site location partnerships reception and event with Chemex conference attendees

686
01:01:31,080 --> 01:01:34,760
 which are the trade show held in Dallas they had DFW brokers and consultants at

687
01:01:34,760 --> 01:01:38,360
 their at their reception reception so we met with 14 consultants that attended

688
01:01:38,360 --> 01:01:42,080
 the event and they're all Dallas brokers so it's people that we work products

689
01:01:42,080 --> 01:01:47,440
 with or looking to work products with and then it's had attempted the attended

690
01:01:47,440 --> 01:01:52,240
 the Fabtech expo with team Texas it was last week so I don't have all the the

691
01:01:52,240 --> 01:01:54,560
 numbers put together for all the leads that we told me to get but there were

692
01:01:54,560 --> 01:01:57,600
 quite a few of them and I'll tell you those up and get those two in a report

693
01:01:57,600 --> 01:02:02,480
 for next month as well and then many of you were at this at the reception that we

694
01:02:02,480 --> 01:02:05,600
 did for our economic development private investors we held a reception last month

695
01:02:05,600 --> 01:02:11,560
 it was held at didn't media company and we had 30 private investors in attendance

696
01:02:11,560 --> 01:02:17,040
 my last item is upcoming upcoming marketing trips and activities we have

697
01:02:17,040 --> 01:02:22,120
 the team Texas Advisory Board Council retreat on November 27 to 28 that's just

698
01:02:22,120 --> 01:02:26,920
 in Dallas for two days we have a Dallas Fort Worth marketing teams lunch in with

699
01:02:26,920 --> 01:02:32,720
 site selectors on November 29 there should be around 50 I think low DFW

700
01:02:32,720 --> 01:02:36,920
 brokers and consultants at that luncheon and a consultant connects a economics

701
01:02:36,920 --> 01:02:40,840
 development economics consultants form I'm sorry on December 3rd to 5th and I

702
01:02:40,840 --> 01:02:51,160
 whatever what that is in my earlier presentation so that's a lot of stuff

703
01:02:51,160 --> 01:02:57,800
 going on all right I guess that includes our staff reports the stands report is

704
01:02:57,800 --> 01:03:03,760
 in the back of your package also and also send out the email any announcements

705
01:03:03,760 --> 01:03:08,040
 from anybody for the good of the order

706
01:03:08,040 --> 01:03:16,760
 currently which is why I'm staying in my lane over here and then secondly I just

707
01:03:16,760 --> 01:03:21,200
 want to thank mr. Baines and mr. Rivers for continuing to service in the

708
01:03:21,200 --> 01:03:26,240
 capacities that you've been nominated and voted it's a it's an honor for me to

709
01:03:26,240 --> 01:03:31,000
 sit on this board with the group of people that are here and you two have

710
01:03:31,000 --> 01:03:34,760
 done a fabulous job and you're in good hands and appreciate your experience and

711
01:03:34,760 --> 01:03:41,840
 your willingness to continue thank you lastly I'd be remiss if I did not

712
01:03:41,840 --> 01:03:46,000
 mention I am co-chair of the Reed's sorry again this year benefiting health

713
01:03:46,000 --> 01:03:49,840
 services in North Texas which is December 1st at the home of Eugene and

714
01:03:49,840 --> 01:03:56,600
 Carolyn corporon in Montecito and we have a different artist interpretation

715
01:03:56,600 --> 01:04:01,640
 from University of North Texas Texas Women's University different artist in

716
01:04:01,640 --> 01:04:06,440
 the area and DISD giving their versions of wreaths some other shopping

717
01:04:06,440 --> 01:04:10,600
 opportunities but I have invitations for everyone today thank you so much for

718
01:04:10,600 --> 01:04:21,220
 your time thank you I would love to hear just like it I'd love to hear information

719
01:04:21,220 --> 01:04:25,440
 on our traffic studies that we're working on I guess out there in West

720
01:04:25,440 --> 01:04:31,320
 Park or how about playing out and as we start looking at incentives for other

721
01:04:31,320 --> 01:04:37,000
 projects or three men square foot of space come on that was the same thing I

722
01:04:37,000 --> 01:04:41,200
 had is we have a lot we have two ways in and out of there and a lot of truck

723
01:04:41,200 --> 01:04:49,000
 traffic and all that stuff so the staff could at some point in the future just

724
01:04:49,000 --> 01:04:53,440
 kind of give us an update on maybe some plans out there to handle all that we

725
01:04:53,440 --> 01:05:00,640
 have a similar topic I guess a number of years ago as far as utilities you know

726
01:05:00,640 --> 01:05:07,560
 be able to handle all that at the same time on the industrial space what we're

727
01:05:07,560 --> 01:05:14,040
 looking at down the road so where we can go with that so sorry Keely yes so we we

728
01:05:14,040 --> 01:05:19,840
 talk a lot about what we did today that the average pay for workers and part of

729
01:05:19,840 --> 01:05:25,360
 our job is to get jobs into Denton and we all know that there is a an issue

730
01:05:25,360 --> 01:05:30,200
 with affordability and we do want the people we bring into our city to live

731
01:05:30,200 --> 01:05:37,600
 here that's a goal and I found out recently about a Wells Fargo program

732
01:05:37,600 --> 01:05:42,640
 neighborhood lift and I know that we have a lot of banking institutions in

733
01:05:42,640 --> 01:05:47,560
 our city and I just would like a report or some kind of staff list of all the

734
01:05:47,560 --> 01:05:54,600
 institutions that provide those type of programs for first-time home buyers and

735
01:05:54,600 --> 01:06:04,000
 they help with down payment put that on the agenda well I mean just just in a

736
01:06:04,000 --> 01:06:10,560
 note to us maybe in the back up just to have that information it would be really

737
01:06:10,560 --> 01:06:15,000
 helpful especially if these companies are relocating and they can pass that

738
01:06:15,000 --> 01:06:25,360
 information out to the people that they're relocating here anybody else all

739
01:06:25,360 --> 01:06:30,440
 right thank you for being here we'll see you next month