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 Okay, good afternoon everyone. I believe we have a forum so we will go ahead and get started.

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 Welcome December 11, 2024. It is 1102 and I will call this meeting of our Economic Development

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 Partnership Board to order. Items for consideration. Do we need an approval of minutes?

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 We have a motion. Thank you. And a second. Thank you. Any discussion about the minutes?

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 Hearing none, all in favor signify by saying aye. Aye. And any opposed? Hearing none, that passes.

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 Thanks y'all. Let's go on into the call for items for work session. We will begin work

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 session with item A, EDP 24-087. Good morning Board of Directors. It's great to see you as always.

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 This time we have a microphone so I'm going to step back a little bit. I feel like I'm yelling.

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 We are, I'm here today to present tax increment reinvestment zone number one,

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 a boundary term and PSE amendment overview.

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 And I've been told this presentation is pretty lengthy so I'm just going to summarize. But the

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 TERS was first created on December 10, 2010. Over a series of the past few years there have

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 been multiple discussions on improving the TERS and trying to amend it in some way or manner or

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 form. In May of 2023 the amendment was presented to city council after staff hired a consultant,

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 David Pettit Economic Development Group. David Pettit has been helping with the amendment thus

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 far and so prior staff took the amendment to council in May of last year. Direction was

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 provided by council to postpone the amendment until the downtown master plan was completed and

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 other outstanding questions were answered. In September of 2024 the downtown master plan was

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 approved by city council and the master plan included recommended a TERS one boundary expansion

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 and also an amendment to the term and also it included catalytic project recommendations.

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 In September of this year the amendment was presented to the TERS board and November 19th

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 we presented it to city council during work session and on December 3rd we took it back

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 to city council and they approved the ordinance amending the boundaries and the terms.

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 The current downtown TERS parameters has a term through January 1st 2039 or when the revenue of

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 24.8 million has been reached. We're the only taxing entity that is participating.

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 We participate at a declining rate and so we're currently participating at 90 percent for years

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 11 through 20. The boundary has approximately 226 acres and the base value when it was first created

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 has had was 79.4 million dollars. The consultant that first put together the project and findings

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 and plan for the TERS estimated that it would create 24.8 million dollars and so the consultant

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 put it into four different funding buckets that included parking, complete streets,

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 support for downtown projects and utility drainage improvements.

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 From 2010 to 2023 the TERS certified tax values for all the properties including their Avalor

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 valuations increased by over 182 million dollars and that was due to natural rising properties

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 rates rightly and we did have a few catalytic projects including lease development the rail yard

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 project and the TERS fund had an increase of actually has generated 6.6 million dollars over

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 the term of the fund since 2010 and the current balance is 4.4 million dollars and lifetime

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 expenditures is 2.2 million dollars. What we did not include in the in the proposed expenditures or

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 upcoming expenditures are the fine arts theater which we have a budget of 1.5 million dollars.

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 So why are we taking this amendment? Why are we taking to the council for approval? Number one

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 we have catalytic projects and we need funding mechanisms. The downtown master plan consultant

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 the MEN group recommended that we do expand the boundaries and so on their map to the right there

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 is a the current boundaries and the proposed boundaries which has uh which is the dotted line

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 and so the MEN group recommended that we include Carroll Street all the way up to university just

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 including the rideaways including some of the commercial areas on North Locust and Elm also

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 including Quaker Town Park and further south southern downtown and I'm just I have a cold right

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 now I'm just warning you so I'm a little bit out of breath and and so we're basing this amendment

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 based off the recommendations we want to make sure that we have uh we're we have incentives to

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 support some of those projects that were recommended in the plan.

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 So city council approved expanding the boundaries to include TURS 1a on December 3rd. The new

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 boundaries will have a 2024 base so next year we will be able to uh start collecting increments.

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 And then termination of the zone was extended to December 31st 2040 with the final year's tax

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 increment to be collected by September 1st 2041. On December 17th we will go back to council and

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 they will review an amended project and financing plan and that will include boundaries revenue

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 projections and project costs. In the amount amended project and financing plan we work with

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 the consultant to provide development assumptions so we gave them a list of development that was

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 currently in the works for downtown and we estimated that that would generate by 2041

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 800 to 41 million dollars and so we have a few multi-family line items we have retail and hotel

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 a theater that's a fine arts theater some of the multi-family that's listed includes the

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 rail yard laying program uh apartments there's three phases and so the second and third phase

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 has not hit the tax rolls yet and so we're assuming that that will hit pretty soon and

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 that will go into the turds the great news about that development is that we did not provide

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 incentives up front and so that their development is within the turds and we will start including

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 increment. In total the consultant estimates that we will generate 50.2 million dollars

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 within the turds so we'll have additional funding mechanisms to support the catalytic projects.

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 And the consultant has a list of guidelines and funding buckets that he divvies up the 50.2

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 million dollars into recommended funding buckets and so this is not a concrete list any item can

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 be changed in a moment's notice and so we have a few water facility improvements a few infrastructure

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 improvements open space park and recreation facilities economic development grants and

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 administrative costs so we don't propose that there will be any infrastructure updates in the

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 near future but maybe in 2039 there could be and any items that are funded by the turds

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 would be supplementary to our capital projects team whatever they're working on at the time if

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 they have funding available we will work with them because I don't believe that we'll have enough

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 funding to cover an entire infrastructure project and so our as I stated earlier we will go back

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 to council on december 17th and we will hopefully get their approval on the amended project plan

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 and next year we'll have the funds available and we can start planning for projects new projects

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 downtown so we're excited any questions I saw on the breakout there was five million or so in parking

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 and uh what is it transit funds what's what's the what's going on with the park situation

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 or what's being projected or talked about downtown that's not a big challenge for us

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 it's a great question so the city is in the works of completing a parking study I haven't been

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 I was closely involved in those discussions here from our business owners is that parking can be

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 an issue to attracting patrons I believe the downtown study Mr. Meltzer may know a little

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 bit more because he hears it directly he can probably comment on that that there may not be

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 a parking issue that there are available parking spots it's just not directly in front of business

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 fronts and so when the original project and financing plan was created I believe that the

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 consultants I work with staff they were proposing a parking garage that was back in 2010 and we now

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 we do have a parking garage with NCTC and I believe there's another one that's proposed right now

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 and so I think that was our initial thoughts is we did have a briefing it's not done yet

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 we got a briefing at the gentlemen code review committee for example yesterday before yesterday

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 yeah and then I found that a really surprising result that even at peak which I think was like

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 saturday and you know kind of going to the bar time the utilization of downtown spaces is 79

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 percent I don't know a single person who feels like that so some of the things that they're

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 talking about are uh you know enforcement which there really isn't enforcement now like uh time

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 limited parking so the spaces open up uh improved signage and just this is just a you know just a

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 little uh appetizer of it the thing that caught my eye which is viewed as like a little longer

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 to get to is uh but not totally far away it's smart signs you know how like when you go to

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 the airport to park in the garage you know this a sign that that in real time says there's 18

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 spaces this way there's five that way uh they're they're looking at first of all having sensors

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 at the spots anyway so that they could use it for enforcement because like I said there really isn't

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 any once you do that it's not a a big stretch especially using available wi-fi uh to to uh

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 connect that to an app or even better to smart signage so instead of spending 17 minutes to find

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 that 21 of spots that are still available you get directed right to it maybe it feels more like you

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 have the amount of parking there really is that that's great uh so we're working with our

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 transportation department on implementing cold technology um so hopefully that will solve our

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 parking issue but that's all coming together right now great question thank you

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 this is for information only right right any other questions before we have the next topic

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 which is uh e2p 24-085

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 um

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 good morning um my name is julissa amador i work over in the environmental services

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 and sustainability i work in the sustainability division um i'm the senior program coordinator

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 so i'm going to be doing a presentation on the green business uh update

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 so a little bit of background if you guys um may be familiar with it or have heard about it in the

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 past um there was a pilot program in 2019 where nine businesses participated during that 12 month

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 period um of course uh we did have to put the program on hold due to the pandemic and staffing

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 shortages but we are going to be launching the program january 1 of this upcoming year 2020

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 a little overview of the program so the intent of the green business program is to educate

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 and encourage businesses but it's also able to highlight things that they're already doing so

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 sustainability practices practices that they've already implemented within their business and so

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 this gives that opportunity we will be breaking that out into different focus areas so um the

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 focus areas mirror the sustainability framework uh water energy transportation materials management

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 wildlife and community resilience as part of the green business program it is going to give the

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 opportunity for businesses to be able to network with each other share information about what

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 they're doing what they're implementing at their business um they can also talk about corporate

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 policies that they've uh you know that their corporations have already implemented and be able

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 to share that information so here's some program specifics so to participate um in the program you

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 first have to fill out the questionnaire so the questionnaire kind of gives us a baseline for

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 what the business is already doing and that is the only requirement to join the green business

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 program and you would join in at the lowest level which is a bronze level to go up in levels of

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 participation you would have to come a business would have to complete additional steps so those

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 additional steps can look like joining cohorts community engagement and then also ongoing

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 participation to touch a little bit on the cohorts so a business can join a cohort and that would be

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 based on a focus area so let's say a business is interested in reducing its waste they would

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 join a materials management cohort and then also join that cohort with similar businesses as well

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 so those would be businesses that would meet once a month for a three to four month time frame

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 and it gives them the opportunity to be able to learn a little bit more about that specific focus

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 area and there will also be the opportunity to have to be a part of community engagement so for

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 community engagement a business can post on social media of what sustainability practices are already

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 doing they can also host an event they can host a cohort class if they would like to they can also

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 host a volunteer event community engagement can also look like signage so signage within

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 your business just talking a little bit about some of the sustainability practices that your

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 business is already undertaking and then ongoing participation so we would check in with the

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 businesses at six months and then have an annual report where they can just tell us a little bit

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 about what they've done within that calendar year this is what that questionnaire looks like so this

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 is what the only requirement that you would need to join the program so it's broken out into some

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 basic metrics so for the resource conservation like energy water and materials management

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 that's going to look like a lot of the utility billing that you already have so your energy

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 consumption your water consumption your solid waste service as well so to include the basic

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 metrics and then a checklist so this isn't all encompassing but it's just to give some

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 options of what your business is already doing so for this example this is the water focus area

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 and so are you did you already install low flow faucet fixtures do you you know do you utilize

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 zero escaping at your business do you conduct water audits those are just some examples of what

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 a business could be doing and it gives them also some ideas as well but we also do include a short

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 answer opportunity for the businesses to be able to tell us their story if the other if the previous

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 sections don't cover what they're doing this section will hopefully be able to provide them

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 the opportunity to elaborate a little bit more so recognition and awards we want to recognize

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 the businesses that are participating in the program with window clings so if a business

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 is a green level business for example they would get they would receive a window cling to put on

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 their business but we also will have awards as well so the awards will be based on the following

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 categories and also be broken out by employer styles so those categories are resource conservation

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 which include water energy and materials management transportation wildlife and community

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 resilience so we want to see within that calendar year what businesses are having the biggest

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 improvement based on those following categories and the employer sizes that we have are small

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 medium and large where we're considering small one to 75 employees medium 76 to 300 and then large

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 is 300 plus employees we're also going to give businesses the opportunity to talk about a project

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 of the year which is going to be its own separate application and the project of the year will just

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 basically be if a business has taken on a sustainability initiative that they're very proud of

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 they're able to provide that information and include it in there as well so we would be able

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 to give them an award based on the categories and then a separate award for a project this year

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 we of course want to spread the word and be able to utilize our partners so we will definitely be

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 working with economic development very heavily and other community organizations to get more

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 involvement for additional businesses but also to spread the word about participation in the program

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 so next step uh january 1 is right around the corner so uh launching the program of course

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 spreading the word that the program exists launching the cohort classes just based on

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 the businesses that we get and what they are interested in seeing and then reporting ongoing

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 participation do you have any questions

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 hearing no questions thank you

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 we can come we can come back to with you on that one

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 for the program to have this program what's the annual budget for that

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 a lot of it is more of staff time because we have some of the printing costs associated with it but

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 it doesn't compare to some of the other programs that we have different incentives for and things

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 like that i don't know what that means exactly compared to what what's the what's an average

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 then what's an average cost for an average program then so um our solid waste and recycling

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 uh education that we do within our department has a different budget than um the green business

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 program for example i don't know off the top of my head but i can get that number to you later

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 i think it'd be good just as a general rule like whenever we have programs that we're talking about

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 that we had an annual cost to the city for what that what that program is and and i wouldn't

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 exclude the cost of time for the employee because the city has to pay that employee for their time

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 and it would be elsewhere otherwise it may be a good idea for us to have that on an ongoing

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 basis when we're looking at when we're being informed about this i would tell you as a large

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 employer that stuff like this is needed it helps with community relations and everything so i

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 appreciate the effort i would even say you might as this goes on if you might even consider a

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 separate awards application just to kind of offset some of your costs people might participate in

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 that just little things like that that's not uncommon and it might be expected this place

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 i believe we started coordinating with um our environmental services whatever you did propose

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 an award program or some type of recognition for businesses other practicing sustainability measures

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 so thank you i mean it that's our i mean HACVAR asks every year for every different environmental

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 award that every division gets i mean so it's a big deal

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 thank you all right thank you no vote needed on that either so we'll move to staff reports

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 and uh just end the quarter thanks rick

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 so last month matilda weed and our economic development specialist attended the texas

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 economic development council basic economic development course and so this is something

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 that was really excited she got to attend because when you go you're immersed in a week long training

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 program you get to collaborate with professionals all over the state of texas and learn what they're

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 working on you have people that have been in economic development for over 20 decades 20 years

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 the same decades 20 years that are teaching these young professionals what the economic development

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 career is all about and so i was really excited that she attended um and then she also attended

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 the texas music office sounds and cities conference matilda manages our music friendly certification

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 every year with the state and she won an award this year she won the excellence award

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 so congratulate matilda

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 we also held a small business boot camp workshop this is something that i mentioned briefly

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 mentioned during last meeting it was a partnership with the city and score fort worth it was

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 coordinated by our office development services and community services and we also also did work with

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 the edp in the chamber we held two workshops in a business fair this started because bob sifferman

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 he's the chairman of score fort worth it is a network of volunteers that are retired executives

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 that are just looking for something to do but they have all the skill sets and wisdom to share

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 and so bob's a chairman he's based out of fort worth i used to work with him at the city of

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 arlington and so when i moved to the city of ditten he said hey we want to work with ditten

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 and so it's a free resource they provide free mentoring to entrepreneurs for business plans

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 accounting marketing you name it so the first business workshop was just a general overview of

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 what a business plan consists of in the second workshop was a social media breakdown and also

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 an accounting overview so that was really nice i really enjoyed the accounting overview because

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 i think most small businesses need help financial assistance and understanding their profit and loss

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 statements a little bit better and this was all made possible by courtney and our community

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 services department there was a grant that was from the icma economic mobility grant program

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 that she applied for and so she volunteered to assist with putting these workshops together

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 and this is our cohort there was more people i think the first session how many people originally

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 signed up matilda i'm like 17 17 showed up the first time and i think they kind of turned on the

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 second our new community profiles over the past few months we have been working on updating our

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 marketing materials every community in the dfw metroplex has a community profile with demographics

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 and general stats about the city and so we have updated our profile and that will be printed next

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 month and we will provide this to you we can also send you a digital copy so this will be helpful

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 for developers if you're talking to clients you can provide this document to show them what we're

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 all about for the next one to two years we're going to be using the tagline where creativity meets

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 commerce we thought that was fitting of denton we have to find a way to stand out from the other

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 cities and i think we are unique right we have to embrace our uniqueness so we we figured that

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 we would highlight that in our graphic design and this was also kind of a collaboration

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 between the edb colors the lime green and also the city of denton colors

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 our quarterly recruitment stats over the past quarter we've had 18 active projects

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 two of those received incentives one announced an expansion and four currently planning potential

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 site visits um rfis kristina's been working hard on responding to rfis that are submitted to the

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 dallas reno chamber we're in the state economic development governor's office and so we had a

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 total of nine submitted one that aerospace two automotive supply chain and two green energy and

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 four manufacturing and then we have four active projects currently in the downtown reinvestment

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 grant process for this year we've had a total of 76.9 million in capital investment generated

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 and 438 jobs thank you for your support this is all due to your efforts so let's everyone

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 have a hand i think this is a good start for 2024 i'm excited about it i don't know about you

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 but we have stolts air technology systems we didn't put their capital investment numbers on

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 there because we want to ensure that they're okay with us releasing it to the public but we also

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 engine tech north america their incentives were approved by city council and so we have estimated

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 5.7 million capital investments line art theater and south wire what's not included on here is

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 core scientific's new deal it's a 6.1 million billion or billion i think it's a billion actually

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 deal of course scientific has least space from the city a few years ago for data mining they

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 kind of had an up and down uh flow of other business operations they went bankrupt and then

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 they were they came back online but it was a slow start but now they are renovating their facilities

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 and expanding and we'll lease it out to a large user and so we're excited about it and the capital

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 investment amount is estimated at 6.1 billion dollars and 300 jobs so if you add that that's

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 a little over 700 jobs that we've created for the city of ditton our upcoming opportunities

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 for last year 2023 staff structure we had erica sullivan our economic development program

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 administrator christina davis business development program administrator matilda leeden economic

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 development specialist leading the department last year after the former director left in

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 october they were just kind of managing the department on their own there was a an economic

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 development analyst at the time and then he left and so it was a small team working on economic

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 development projects this year now we have a full staff you have myself that joined in march

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 christen feluto who joined in november of last year main street program manager if you can recall

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 the department did not have a mainstream manager solely focused on downtown but that was in

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 partnership with downtown main street association where a mainstream manager was brought in to our

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 department and we also have clay parker now who his position was formerly a business analyst and

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 now has been transformed to business recruitment specialist and so we have a full staff and we're

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 ready to go for next year we also work closely with development services charlie rosendahl business

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 services manager we work with him all the time anytime that we have a prospect visits where

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 company's coming in for a site tour we bring charlie in to go over their development services

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 program where their their processes because as you know it's not always as easy right so he's

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 able to break it down for them to let the prospect know how how quickly and easy they will get their

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 permit and he was actually instrumental in getting wing launch at the loop 288 walmart and help them

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 do the permitting process so very thankful for charlie also we owe big thanks to venice exparsa

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 administrative assistant number two because she helps us get all of our boards uh coordinated our

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 catering she gets our minutes on our documentation she does everything and this is only she manages

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 multiple departments so we're very thankful for her and carly also she's been helping out as well

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 we get one more i'm sorry the one with the businesses on it

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 it'd be good to see the economic impact of that if we have a summary like that

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 okay it's like the s usually your same model saying this is the economic impact

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 i like it all right this is i mean that's really to me it's more important than the capital

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 investment too even right it's like that's interesting but this is what it's going to do

283
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 for dinner i think that needs to be the tagline right at the end of the day yes you can put that

284
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 up there i like it thank you so opportunities for uh next year recruitment strategy we're

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 working on a recruitment strategy uh right now we're identifying sites we already have a few

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 sites available if you go to downtown tx uh dot org right dot org there's a list of downtown

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 properties but we're constantly thinking of ways to redevelop and areas to redevelop and working

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 with those landowners so our key targets for next year where we're actually going to reach out to

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 these prospects will be around retail entertainment um fast casual was a recommendation by christen

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 paloo there our mainstream manager because where is there is there a spot where you can go downtown

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 where you can just grab a food item right where it's quick yeah there's there's a lot of sit-down

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 restaurants but is there any fast casual and we're not talking about franchises we're thinking of

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 unique concepts housing the downtown master plan recommended 1500 units and so that's something

294
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 we're looking into i think town homes downtown would be would be great i would personally look

295
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 into something purchasing one of those uh catalyst projects uh we there's a few catalysts that are

296
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 recommended one of them that i'm most excited about is a redevelopment of city hall west

297
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 the city owns that property and also owns a parking lot behind it as well and so there's a

298
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 lot of opportunity with um development services there's also the cross timbers site that is for

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 sell um directly behind development services so there's a lot of opportunity in this area

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 and we've had a few developers reach out to us we've toured them at city hall west and so

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 that's something that we are going to start working on a q1 of next year and of course growing our

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 existing businesses there are tons of small vendors and we have a large entrepreneur ecosystem

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 here so we want to make sure that we're supporting those businesses and maybe supporting them to get

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 into brick and mortar facilities and the current vacancy rate is 5.2 percent

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 recruitment strategy for industrial next year we're really going to hit the emails hard at

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 linkedin profiles where we're directly reaching out to company executives clay parker or business

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 specialist will be leading that effort and so we are identifying companies right now to

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 start reaching out to based on this our site availability we will attend the verticon aviation

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 conference and q1 of next year that is held in dallas if anyone would like to go please let us

310
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 know i think we have two free passes that we can let you into so if you're interested let us know

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 again we're monitoring our start database continually updating and then we'll continue

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 working with our partners our universities we're still working really closely with unt to build a

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 u.s ecosystem here making sure that we are a landing pad for some of those companies that

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 want to come into the u.s or maybe just start their their u.s company so that we are working

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 with the research and development department and with dr harrison keller that just joined on board

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 i think that he'll be supportive of some of those efforts and then we're working with the airport

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 ryan adams the director we're looking at land around the airport to recruit prospects in and

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 again we're working with him on u.s innovation projects we're continuing to work with dme with

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 all their efforts with with data centers and electricity in general there's a lot of opportunity

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 there and of course working with our partners jamey adams at edp stoke dmsa the downtown

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 management is uh did i get that right downtown mainstream association and the chamber and the

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 vacancy rate for industrial is 17.1 according to co-star let's talk about our challenges this is

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 what i love to talk about i'm kidding we have quite a few boards in total we have six board

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 boards that we report to four that are direct and two that are indirect now we love our board

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 directors we appreciate all your support and your wisdom that you bring to our efforts it's more of

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 the administrative side that is kind of eating our lunch right now and so we're looking at ways ideas

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 options and we're open to hearing your ideas on how to improve the process for boards our posting

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 turnaround time for example and this is i'm going back to the administrative side for this meeting

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 for our january meeting for edp b we will have to go uh create a draft agenda item on december by

330
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 december 23rd and then by december 30th we will have to launch the next agenda and finalize it

331
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 for posting and so as you can imagine that's two weeks from now with christmas all the holidays

332
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 activities that would be the following actually next week that we prepare so estimated staff time

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 for preparing for the boards is about 20 hours per meeting for all the staff members and so it's

334
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 taking time away from working on projects and networking with some of our partners

335
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 and we're having to plan for the administrative side so that's just one board and we just wanted

336
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 to highlight that it's it's so that you're aware and if you have any ideas please let us know

337
00:35:02,240 --> 00:35:08,720
 we do have three town boards that we currently report to and i know for instance jeremy has

338
00:35:08,720 --> 00:35:13,760
 probably heard my tourist presentation quite a few times he's he's our dedicate chair and

339
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 he starts on other boards so that's kind of the issue that we're running into is a lot of our

340
00:35:18,720 --> 00:35:23,120
 board members are serving on other boards too so they're hearing the same presentations over and

341
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 over again so we are open to any ideas on our board structures also the dallas business journal

342
00:35:33,680 --> 00:35:40,240
 every year releases best the top value of deals done in the dfw metroplex and so they reach out

343
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 to the economic development agencies and ask them how many deals have you supported or how

344
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 many deals have been passed in your city and so unfortunately didn't was not listed we did submit

345
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 our capital investment numbers at that point we only had the fine arts theater and so we

346
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 weren't on the list i think there was a total 18 economic development agencies but next year

347
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 we will definitely be on this list and my hope is that we will be in the top three next year so

348
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 fingers crossed and that is all we have questions any ideas any

349
00:36:13,760 --> 00:36:18,800
 ideas for us to work anything that you would like us to work on next year

350
00:36:18,800 --> 00:36:28,560
 i had mentioned to the staff in early october that the word was ups was going to remove its

351
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 distribution center from dentland which they did on october the 15th so we lost over 100 drivers

352
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 making over 100 grand a year plus 50 or 60 support people because they've been trying to

353
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 negotiate with city then over five years to expand their facilities so they could do more automation

354
00:36:45,360 --> 00:36:52,480
 i'd like some kind of report on what are we doing with the businesses here that are really good

355
00:36:52,480 --> 00:36:58,880
 partners in this community to help them solve problems and help them stay here as a result

356
00:36:58,880 --> 00:37:04,400
 one of my son's works out there and he's going to have to move because he's now located out of

357
00:37:04,400 --> 00:37:09,360
 sherman and a bunch of the rest of them are out of the north fort worth distribution center

358
00:37:09,360 --> 00:37:14,400
 i just have a concern where after all these new people what are we doing to help our current people

359
00:37:14,400 --> 00:37:20,480
 that's a great question and i'm going to maybe ask jamie adams to come up here because he manages

360
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 our business retention expansion program and erin maybe you want to comment that's a part of that

361
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 program is ensuring that we are pertaining to or helping our existing businesses grow and stay in

362
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 the in the region sorry city uh jamie would you like to comment on i know that jamie had reached

363
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 out to ups but i'm not sure yeah no with ups it was on the radar and uh it just didn't seem like

364
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 you know they want to stay they want to be a part of here and they wanted to press to work something

365
00:37:53,280 --> 00:37:58,240
 out it just didn't seem like it was going to work out and so uh they were moving i think a lot of

366
00:37:58,240 --> 00:38:03,520
 those drivers are going to fort worth a lot of them are but yeah 10 percent of them are going to

367
00:38:03,520 --> 00:38:10,880
 sherman yeah uh part of from business retention standpoint 80 of a growth in the city is retaining

368
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 businesses and having helping them expand uh this is one that we hate that we lost i don't expect an

369
00:38:16,960 --> 00:38:23,440
 answer today yeah no no but you know it's not we've heard it we've heard that they were looking to

370
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 lose uh move we tried to uh to help them address that and we didn't so um hopefully hopefully it

371
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 doesn't happen again the problem was five years ago when they started talking you guys are new

372
00:38:35,360 --> 00:38:41,600
 yeah there's your predecessor that dropped the ball but please don't drop the ball now on your

373
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 successor yeah that's a long time so i think something important i didn't know that they

374
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 had moved but i think something important is to analyze that and say the answer of hey there's

375
00:38:52,880 --> 00:38:58,320
 just restraints we all have restraints in our everyday business right so that's not for me

376
00:38:58,320 --> 00:39:03,280
 personally it's like hey we got to figure those out i'd like to see her answer of what what those

377
00:39:03,280 --> 00:39:09,360
 issues were why we couldn't overcome those and then look at that on our business moving forward

378
00:39:09,360 --> 00:39:13,440
 on our other businesses were they really big enough that we couldn't or did we not allocate

379
00:39:13,440 --> 00:39:18,480
 the time and they just have a real answer to that right and that was five years ago yesterday

380
00:39:18,480 --> 00:39:24,800
 who cares you know because i think we can use that to build on as a learning uh because a company

381
00:39:24,800 --> 00:39:29,040
 like that i worked to ups when i was in college you know i would have made it through college

382
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 without ups working part-time there and so those are those are things that bring value to our

383
00:39:34,480 --> 00:39:40,640
 community help they pay health insurance they paid a lot of things my tuition that i couldn't afford

384
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 when i was there so i think we really need to analyze that i'm glad you brought that up because

385
00:39:46,640 --> 00:39:52,160
 that's that's a huge learning curve we can apply going forward yeah we'll do that just say from a

386
00:39:52,160 --> 00:39:56,960
 larger business or a corporation i think there needs to be probably and we could help with this

387
00:39:56,960 --> 00:40:03,280
 some understanding of steve probably the same way of how capital budget processes work in private

388
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 corporations because if they're trying to put a five-year plan together and they've got capital

389
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 that they have to spend on a certain budget if you say no or you become a roadblock it goes

390
00:40:14,880 --> 00:40:19,520
 somewhere else because they're always looking they've got a list of you know 500 projects

391
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 that each have an roi and they're like hey if this one i can't do i'm going to the next one

392
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 i got to get my shareholders their value it just is it is what it is i just think you have to

393
00:40:30,000 --> 00:40:35,680
 everyone who plays in that ecosystem needs to understand that um and i think you know we've

394
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 had some issues you know a lot of people have helped because we escalated them where we could

395
00:40:40,400 --> 00:40:46,480
 have lost some capital that was associated with the city so i think a lot of it has to do with

396
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 how long permits take and how long we have to allocate capital and all these things can really

397
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 drive uh didn't losing business versus somewhere else because they every corporation ups you know

398
00:41:01,120 --> 00:41:07,040
 these large corporations they have a list of thousand plus probably capital projects that

399
00:41:07,040 --> 00:41:14,160
 they have to do so if if you move all always have to do our due diligence everything it's not like

400
00:41:14,160 --> 00:41:19,280
 saying you have to say yes but it's kind of you have to understand hey i need to get these things

401
00:41:19,280 --> 00:41:25,200
 through in a timely matter because they have to commit so much money in a certain amount of time

402
00:41:25,200 --> 00:41:30,160
 i think that's that's where a lot of the it's just we don't speak the same language sometimes

403
00:41:31,920 --> 00:41:37,200
 it's a good point because you look at like a business we can move quickly right in my business

404
00:41:37,200 --> 00:41:42,400
 i can make a decision today and it can start being implemented tomorrow i've not been involved in

405
00:41:42,400 --> 00:41:47,200
 corporate structure like you and steve right i don't i don't understand how far ahead those

406
00:41:47,200 --> 00:41:51,520
 things are planned and i don't think i think it'd be very hard for a city staff to understand that

407
00:41:51,520 --> 00:41:56,640
 so an education on that that is so important so you can have a little look around the corner of

408
00:41:56,640 --> 00:42:00,800
 it really might be that decision might have really been made three years started five years ago made

409
00:42:00,800 --> 00:42:05,280
 three years sure and that sounds like clocking that's what made me bring it that sounds like

410
00:42:05,280 --> 00:42:09,840
 a classic example of yeah hey we just missed the mark five years ago and that money's gone

411
00:42:09,840 --> 00:42:14,320
 it went to some it went to four words it went somewhere else i wasn't on this committee but

412
00:42:14,320 --> 00:42:19,120
 i was aware that they were having trouble with the city five years ago and it all had to do they

413
00:42:19,120 --> 00:42:24,560
 were trying to expand to the east and i don't know what the problem is over there but it appears from

414
00:42:24,560 --> 00:42:30,160
 just looking at the dirt there was a solution i don't know what it was but it appeared there

415
00:42:30,160 --> 00:42:35,680
 was a solution but i mean this has not been they just oh my god it happened yesterday i think you're

416
00:42:35,680 --> 00:42:41,200
 right they had money that needed to be committed and we weren't ready yeah and from our standpoint

417
00:42:41,200 --> 00:42:44,720
 we want to make sure we go out and visit these people face to face you know one of the biggest

418
00:42:44,720 --> 00:42:50,000
 problems you can have is you just email them or you just send them a form and ask them to fill them

419
00:42:50,000 --> 00:42:54,160
 out we have to build relationships like what brad was saying i wouldn't know that unless we went out

420
00:42:54,160 --> 00:42:57,920
 and visited with him and talked to him so we're going to be able to get in the door with ups and

421
00:42:57,920 --> 00:43:02,240
 these other companies and say we're here to help we're here to be the person that helps get you

422
00:43:02,240 --> 00:43:06,480
 with the right people to to make sure you stay and make sure you can get done what you need to get

423
00:43:06,480 --> 00:43:12,640
 done because we're going to grow it seems like we need the distribution center here not sherman

424
00:43:12,640 --> 00:43:19,680
 and not north for worth because it's going to be gigantic we're doing this conversation kind of

425
00:43:19,680 --> 00:43:25,440
 reinforces your comment about time and the management you have you know i am on

426
00:43:26,080 --> 00:43:30,960
 that in some of these videos and i do hear the same thing over and over so you don't think about

427
00:43:30,960 --> 00:43:37,280
 it when you just hear it one time but their time is being stretched so they they can't focus right

428
00:43:37,280 --> 00:43:42,880
 now probably on the things they really need to focus on so i think from brady and christine's

429
00:43:42,880 --> 00:43:47,920
 standpoint to look at what really our priorities are the feedback that we're giving them right now

430
00:43:47,920 --> 00:43:52,960
 is probably very beneficial in that regard so they can and and the committees need to have an

431
00:43:52,960 --> 00:43:56,240
 understanding that hey maybe we need to meet once a quarter once every other month or something like

432
00:43:56,240 --> 00:44:00,320
 that because there is so much redundancy and there's not enough material to do it monthly

433
00:44:00,320 --> 00:44:05,280
 so dedicated next year they did a calendar it's going to go every other month essentially is that

434
00:44:05,280 --> 00:44:11,920
 right yeah so i appreciate them looking and making that decision to do that so they can't

435
00:44:11,920 --> 00:44:15,840
 focus on other things because the other day you only have so many man hours and the answer is not

436
00:44:15,840 --> 00:44:23,120
 always let's hire more people so thank you thank you and i do think there's so much wisdom experience

437
00:44:23,120 --> 00:44:27,200
 in this room that i want to hear more from you and what we need to work on i don't think we're

438
00:44:27,200 --> 00:44:32,720
 utilizing your time as well as we should so you get to hear my screechy voice every month that's

439
00:44:32,720 --> 00:44:41,120
 not fun and i wouldn't want to hear from you i'm sure it's it's awesome jeremy runs it but but i

440
00:44:41,120 --> 00:44:48,880
 confess i don't know what does denik do that's non-overlapping with what you know this body does

441
00:44:48,880 --> 00:44:57,600
 well they proved that downtown grants uh for that and they're on the ters they're specific to

442
00:44:57,600 --> 00:45:03,360
 downtown we need to unravel some of the history there because they do the first scoring for the

443
00:45:03,360 --> 00:45:08,160
 grant facade and sprinkler grants so we've been working on researching with legal how do we get

444
00:45:08,160 --> 00:45:11,760
 to that point is that something that can go somewhere else so there's some additional

445
00:45:11,760 --> 00:45:17,520
 research but their primary purpose is a specific task task force to downtown and then their role

446
00:45:17,520 --> 00:45:25,520
 right now is pre pre scoring those grants prior to going so this is decision making but there is just

447
00:45:25,520 --> 00:45:32,000
 the people on the committee are they have invested interest in downtown in one way or another whether

448
00:45:32,000 --> 00:45:38,720
 it's bankers or business owners or real estate property owners and i think just they want to have

449
00:45:38,720 --> 00:45:42,560
 they want to know information about what's going on so i think it's a good conduit for them to get

450
00:45:42,560 --> 00:45:48,240
 that information so it is a challenge there because you want to keep those people informed

451
00:45:48,240 --> 00:45:52,720
 because they are kind of the lifeline for downtown as well

452
00:45:52,720 --> 00:46:01,120
 i apologize i have to step away thank you for the conversation tony has agreed to pick it up

453
00:46:01,120 --> 00:46:07,600
 we'll still maintain quorum with that but happy holidays merry christmas everyone thank you for

454
00:46:07,600 --> 00:46:11,280
 your engagement throughout the year and i look forward to seeing you in january

455
00:46:11,280 --> 00:46:21,920
 i don't think there's any more questions

456
00:46:28,960 --> 00:46:33,760
 jamie adams economic development partnerships going to give a little recap of the year

457
00:46:33,760 --> 00:46:42,720
 also answering any questions you may have you know as we're approaching our 49th year the

458
00:46:42,720 --> 00:46:48,960
 economic development partnership was entered in the formal agreement in 1986 so approaching

459
00:46:48,960 --> 00:46:59,600
 40 years on 38 years now and hopefully continue to talk about four different things over the

460
00:46:59,600 --> 00:47:04,480
 course of the year from our investors from events we did a little bit went website analytics we kind

461
00:47:04,480 --> 00:47:08,800
 of talked about how we're telling our story and how we're engaging with our business community and

462
00:47:08,800 --> 00:47:16,080
 then three key plans for 2025 the private side of our partnership right now we have 129 as of

463
00:47:16,080 --> 00:47:23,200
 december 1st yeah investors were able to grow about seven new ones this year we're in a healthy place

464
00:47:23,200 --> 00:47:29,760
 from an investor standpoint the people who are investing are helping to grow businesses in denton

465
00:47:29,760 --> 00:47:35,040
 from us being able to put on events from us being able to tell our story in different ways with the

466
00:47:35,040 --> 00:47:41,920
 website social helping to recruit so we're very thankful to to our investors and hopefully continue

467
00:47:41,920 --> 00:47:48,160
 to grow that number the second thing events over the course of the year a lot of you were able to

468
00:47:48,160 --> 00:47:54,480
 attend some of our forums from our investor forums from our industrial round tables from our hr lunch

469
00:47:54,480 --> 00:48:03,440
 and learns we were able to have the edp help put on 11 events this year we write at 800 people

470
00:48:03,440 --> 00:48:10,640
 attending those 11 events i was able myself go out to about 14 community presentations

471
00:48:12,640 --> 00:48:17,760
 i'm for hire i'm cheap i'm free but if you want me to speak i'll come to civic organizations or

472
00:48:17,760 --> 00:48:22,800
 anything you have going on to kind of tell the story done and be able to answer questions about

473
00:48:22,800 --> 00:48:26,320
 what's going on and rick like you were talking about those kind of events are great when people

474
00:48:26,320 --> 00:48:31,760
 say hey i'm looking to come to denton hey i want to find out more hey we're looking to leave hopefully

475
00:48:31,760 --> 00:48:36,080
 going out to the community presentations are really key for us and hopefully we continue to

476
00:48:36,080 --> 00:48:41,920
 do those as the year goes on i want to share this this is the third thing talking about our website

477
00:48:41,920 --> 00:48:46,160
 analytics i don't have a year in report i won't get that till january but it's kind of a show

478
00:48:46,160 --> 00:48:55,200
 adapted how we changed kind of our our way in june of 2024 and we grew our website

479
00:48:55,200 --> 00:49:02,480
 in our social media channels we made a point starting in june of 24 to our social channels

480
00:49:02,480 --> 00:49:07,280
 tell the story of what's going on then where the community events would be our investors whether

481
00:49:07,280 --> 00:49:13,840
 it be businesses coming to town by doing that and being more active from the website standpoint

482
00:49:13,840 --> 00:49:21,360
 from our social channels this is website numbers will grow about 61 percent in users over that three

483
00:49:21,360 --> 00:49:29,760
 months over from q2 to q3 new users like i said the focus of those areas we're just telling our

484
00:49:29,760 --> 00:49:35,360
 story promoting our website so when people are looking you know we talk about recruitment a lot

485
00:49:35,360 --> 00:49:40,880
 but like i mentioned earlier 80 percent of business that grows in a community is from retaining and

486
00:49:40,880 --> 00:49:46,400
 expanding those businesses we're telling our local people in denton city of denton denton county dfw

487
00:49:46,400 --> 00:49:53,200
 texas about what's going on in our great state so providing tools and resources on our website is

488
00:49:53,200 --> 00:49:59,920
 very important when you look down the links people are going to interactive map that economic

489
00:49:59,920 --> 00:50:05,360
 put together along with tool kits that we have and so hopefully helping to help people not only be

490
00:50:05,360 --> 00:50:13,200
 here in denton but to grow and then the fourth thing i want to talk about you know three different

491
00:50:13,200 --> 00:50:20,320
 big plans for 2025 you know once again business expansion is number one making sure we keep as

492
00:50:20,320 --> 00:50:28,960
 many people as possible we've been dealing with a lot of them help them find a space or help them

493
00:50:28,960 --> 00:50:34,400
 find some space to grow and expand and take care of them but there's there's that relationship that

494
00:50:34,400 --> 00:50:39,840
 we need to build throughout the city and making sure that we we do business expansion and grow

495
00:50:39,840 --> 00:50:46,800
 that program uh something simple little program maintain our investor base to me that's that's

496
00:50:46,800 --> 00:50:51,840
 first and foremost that we're growing it make sure that everyone who is investing in our

497
00:50:51,840 --> 00:50:57,360
 need to be paying that money feels that they're getting something out of it everyone we talk to

498
00:50:57,360 --> 00:51:02,720
 wants something different whether it's events whether it's networking whether it's uh just

499
00:51:02,720 --> 00:51:09,120
 engagement from our from our weekly emails uh making sure we take care of our investors

500
00:51:11,680 --> 00:51:17,360
 and more events Aaron and I have talked a lot and in 2025 we hope to have a great

501
00:51:17,360 --> 00:51:27,280
 staple of forums of round tables to speak to um we got one if they worry about it there's

502
00:51:27,280 --> 00:51:33,840
 intelligence hopefully i don't want our water i really say just grow it's internal workforce

503
00:51:33,840 --> 00:51:40,320
 but be on the lookout in 2025 but the end we want to be engaged at

504
00:51:42,480 --> 00:51:43,520
 there you go see

505
00:51:43,520 --> 00:51:53,120
 about any questions that you guys have or any points

506
00:51:53,120 --> 00:52:00,880
 one thing i just it's kind of a breaking point too i think we can work on is if you want to talk

507
00:52:00,880 --> 00:52:07,040
 about maybe how to work with boards in general everyone being more efficient is kind of like

508
00:52:07,040 --> 00:52:11,040
 the question i asked about like well what's the bottom line right we make this much economic value

509
00:52:11,040 --> 00:52:17,760
 it's like what are the two or three main drivers or metrics that we really need to be paying

510
00:52:17,760 --> 00:52:22,960
 attention to right that and then you can report out on those in a more standard format you obviously

511
00:52:22,960 --> 00:52:28,400
 have a little color behind something but that it just makes everyone more efficient right if they're

512
00:52:28,400 --> 00:52:32,960
 it makes you more efficient setting up power points it makes you ever makes you know and it makes us

513
00:52:32,960 --> 00:52:38,560
 all on task as far as like hey these are my kpis this is how we're driving if we're not hitting

514
00:52:38,560 --> 00:52:41,920
 one for the hit you're hitting ones in the green you talk about it you're hitting ones in red you

515
00:52:41,920 --> 00:52:47,920
 need to you tell us what we're doing about it right so um maybe just something to think about

516
00:52:47,920 --> 00:52:52,240
 i don't know in general i just like i was thinking about you know the marketing metrics

517
00:52:52,240 --> 00:52:57,680
 if i don't have anything to compare that against it's not it's like me watching a cricket game i

518
00:52:57,680 --> 00:53:03,120
 know nothing about cricket so you couldn't tell me if the cricket score was good or bad i wouldn't

519
00:53:03,120 --> 00:53:08,800
 know right because i just don't have a contact so maybe you need like a sister city to bounce it off

520
00:53:08,800 --> 00:53:13,600
 of or compare it to you got to give you know some some context so you kind of say hey we're doing

521
00:53:13,600 --> 00:53:19,120
 good we're winning are we winning or losing are we on track not on track if you start if we start

522
00:53:19,120 --> 00:53:24,960
 thinking about stuff more in that way i think we can all be more efficient right since we're all on

523
00:53:24,960 --> 00:53:29,920
 the same page of what we're going to see this is what we're tracking this is the goal like maybe it

524
00:53:29,920 --> 00:53:36,720
 ties back to the strategic plan that we that we all had or had the consultant come in just some

525
00:53:36,720 --> 00:53:42,160
 just general advice i think it'll help make everybody more efficient because you know exactly

526
00:53:42,160 --> 00:53:47,600
 kind of what you're going to get going in and y'all know exactly what to so a lot of your time is

527
00:53:47,600 --> 00:53:54,960
 probably creating stuff or trying to guess what we want if anything like anything i deal with

528
00:53:54,960 --> 00:53:59,760
 for anyone though that works right so just maybe get some of that out and be helpful

529
00:53:59,760 --> 00:54:08,160
 just a thought on can i start going back to what we talked about a minute ago

530
00:54:08,160 --> 00:54:13,600
 if a company is having an issue with your development department and let's say in that

531
00:54:13,600 --> 00:54:18,800
 case with ups it was five years in depth then someone in the city is aware of that because

532
00:54:18,800 --> 00:54:24,160
 they they probably went to the development department or whatever the the stopping point

533
00:54:24,160 --> 00:54:30,480
 was in the city i think there should consider at least can we have that person come to here

534
00:54:30,480 --> 00:54:35,680
 on a regular when there's an issue or some kind of roadblock that they're dealing with and they're

535
00:54:35,680 --> 00:54:41,680
 gonna have to based on their current parameters they have to tell that business no we can't do it

536
00:54:41,680 --> 00:54:44,880
 they at least were informed about it and see if there's a way to work around it i mean if we're

537
00:54:44,880 --> 00:54:48,720
 economic development i mean the key to that i think we talked about is retention and then

538
00:54:48,720 --> 00:54:53,680
 we work on the growth and it may not just be the development the head of development it could be

539
00:54:53,680 --> 00:54:59,360
 another department that that's the issue on so i don't know maybe we come up with a de minimis

540
00:54:59,360 --> 00:55:06,000
 employee count whenever there's a business that is here with x number of employees or above and

541
00:55:06,000 --> 00:55:10,480
 there's a decisions being made that that gets presented here one way or another from that

542
00:55:10,480 --> 00:55:18,000
 department head just let me consider great and that's essentially a vre program too because when

543
00:55:18,000 --> 00:55:23,840
 you're going out talking to prospects um you want to be able to collect qualitative data and report

544
00:55:23,840 --> 00:55:29,120
 that back and so at the end of the year they can say these were the top challenges uh workforce or

545
00:55:29,120 --> 00:55:33,200
 it was you know maybe supply chain at some point that's what happened in corpus christi when i was

546
00:55:33,200 --> 00:55:39,680
 there um but that's our role as economic developers is we have to wear both hats is the city hat

547
00:55:39,680 --> 00:55:43,680
 development services right and then also the business hat because sometimes you're right

548
00:55:43,680 --> 00:55:48,080
 the development services folks are not always thinking of what business uh folks are thinking

549
00:55:48,080 --> 00:55:54,080
 about and so we have to be kind of a liaison between both and so that's what the re um that's

550
00:55:54,080 --> 00:56:00,400
 what your very progress for but i get that but if but on with jamie and him going out talking to

551
00:56:00,400 --> 00:56:06,400
 random businesses you know he may or may not he's like hit every business in debt right so if he

552
00:56:06,400 --> 00:56:14,800
 didn't hit ups when they're having that issue and ups comes to the city or did come to the city in

553
00:56:14,800 --> 00:56:21,120
 this instance if that's the case or not we don't know then the city has that information not jane

554
00:56:21,120 --> 00:56:26,880
 right so there needs to be an avenue for them to inform this committee because there may be

555
00:56:26,880 --> 00:56:31,200
 another way to get around it we may still get that done but there may be an incentive to help

556
00:56:31,200 --> 00:56:37,040
 get that done once your point there's those of us that do business in lots of other cities i got a

557
00:56:37,040 --> 00:56:43,120
 pnz meeting today and whether right this afternoon and how other cities are doing things or maybe

558
00:56:43,120 --> 00:56:48,240
 peter built's been through an experience at another factory that said hey there's some incentives out

559
00:56:48,240 --> 00:56:53,760
 there there's some guys in from ohio yesterday looking at it and they were explaining to me how

560
00:56:53,760 --> 00:57:00,400
 some things are done there that i never thought of they were genius and so there's experience in

561
00:57:00,400 --> 00:57:05,840
 the room that maybe we can offer up some outside of the box value and that but if we don't know

562
00:57:05,840 --> 00:57:12,240
 we can't you know we can't apply that so i think to your point this it makes sense for us to spend

563
00:57:12,240 --> 00:57:17,840
 a quarter million dollars to bring 20 jobs to dens does it make sense to spend a quarter million

564
00:57:17,840 --> 00:57:22,320
 dollars between jobs and debt and i don't know if those numbers are right i'm just an example

565
00:57:22,320 --> 00:57:27,040
 but that's the point i'm trying to make and it seems to me it'd be a lot easier to keep someone

566
00:57:27,040 --> 00:57:34,000
 than it would attract someone because if i'm going to move every city in this if i want to move to

567
00:57:34,000 --> 00:57:40,640
 texas every city in the state of texas competing and i'm big enough so but if i'm already here then

568
00:57:40,640 --> 00:57:46,000
 i'd rather stay here if it's possible in general people want to stay because it costs a lot

569
00:57:46,000 --> 00:57:55,760
 it's got to be pretty pretty start i just want you guys to see if there's a way that we can get

570
00:57:56,720 --> 00:58:02,240
 feedback or input from other departments in this committee so that we know when those issues come

571
00:58:02,240 --> 00:58:06,720
 up above a certain employee count or whatever whatever you guys think is a good metric to

572
00:58:06,720 --> 00:58:11,440
 follow there absolutely is i think like we'll leave this and go look at data like pull denial

573
00:58:11,440 --> 00:58:17,040
 reports see is that 5 000 or is that 200 like figuring out what is the right mix of information

574
00:58:17,040 --> 00:58:22,080
 and how does it align with maybe some of the larger employers or ones that are having retention

575
00:58:22,080 --> 00:58:27,200
 issues that way we can narrow it down but i think we can look at we're all on the same thing so that's

576
00:58:27,200 --> 00:58:37,040
 certainly information okay thank you thank you

577
00:58:37,040 --> 00:58:49,200
 hello everyone i'm matilda weeden and i'm going to be preventing this economic trends report

578
00:58:50,000 --> 00:58:57,280
 i'm also sick so excuse me this is for last quarter july august and september of 2024

579
00:58:57,280 --> 00:59:02,240
 and i presented this back to you guys in september with the previous quarters numbers

580
00:59:02,240 --> 00:59:09,440
 so first off we have residential permit values is a three-year comparison with green being 2024

581
00:59:09,440 --> 00:59:18,080
 september rounded out with 29 million dollars in permit values you can see some of the big peaks

582
00:59:18,080 --> 00:59:25,200
 are from subdivision type development where there's multiple homes being built at once i

583
00:59:25,200 --> 00:59:30,160
 believe last time i presented this somebody asked if this includes multifamily it doesn't

584
00:59:30,160 --> 00:59:35,440
 but it does include things like town homes or duplexes which are not like a big apartment complex

585
00:59:35,440 --> 00:59:45,760
 moving on to commercial permit values green again is 2024 in september we ended with 74 million in

586
00:59:45,760 --> 00:59:52,880
 permit values this graph does look a bit concerning with zero dollar values in certain months i asked

587
00:59:52,880 --> 01:00:01,440
 for further clarification on this and it accurate some months we have zero permits so it equals zero

588
01:00:01,440 --> 01:00:05,680
 dollars that doesn't mean we're not working on development services isn't working on things it

589
01:00:05,680 --> 01:00:12,880
 just means sometimes the process takes a while so we don't permit that month if we were to include

590
01:00:12,880 --> 01:00:18,480
 non-tax paying entities like churches or schools in this number then every month would have a

591
01:00:18,480 --> 01:00:26,800
 permit value but they don't pay taxes so we don't include them in this number and then the big spikes

592
01:00:26,800 --> 01:00:33,440
 in 2022 or more covid related projects that had been pushed back that finally got to be passing

593
01:00:33,440 --> 01:00:39,360
 through the finish line so then the next two years 23 and 24 it kind of settled down

594
01:00:43,120 --> 01:00:47,920
 moving on to sales tax collection this time the present year is in red not green

595
01:00:47,920 --> 01:00:54,720
 in september we finished with 5.2 million in sales tax collection which was higher than

596
01:00:54,720 --> 01:01:00,560
 last september and then july's numbers were also higher than last year and then august

597
01:01:00,560 --> 01:01:05,280
 stayed about the same i don't know about you guys but i'm excited to see next quarter's numbers with

598
01:01:05,280 --> 01:01:14,720
 october here we're looking at the unemployment rate in denton green is 2024 and then here

599
01:01:14,720 --> 01:01:20,640
 it's a little hard to read but this chart at the bottom compares us with the county the state and

600
01:01:20,640 --> 01:01:27,520
 then the national level so last quarter our unemployment rate was higher than in years past

601
01:01:27,520 --> 01:01:35,440
 but this can be attributed to several things like election uncertainty in the summer we always have

602
01:01:35,440 --> 01:01:41,520
 fluctuation because of students and then our teacher educator population there are more

603
01:01:41,520 --> 01:01:48,400
 people in the job market so there was more competition so that's just some of the explainers

604
01:01:48,400 --> 01:01:56,880
 for that this slide is still my favorite the cost of living index in this data set 100 means

605
01:01:56,880 --> 01:02:04,080
 average so denton cost of living composite index is 97 this past quarter which means we're three

606
01:02:04,080 --> 01:02:10,240
 points below average kind of meaning that we're an affordable city to live last quarter we are

607
01:02:10,240 --> 01:02:18,320
 at 99.9 so our cost of living actually went down planos ohio so 108.9 this is just texas by the

608
01:02:18,320 --> 01:02:24,880
 way so planos ohio's cost of living city that participates in this research at 108.9 and then

609
01:02:24,880 --> 01:02:34,720
 harlington is 82.2 so lowest about 20 points below average you can see on utilities this summer

610
01:02:34,720 --> 01:02:41,520
 council approved the utility rate increase our utilities did go up and our our utility index

611
01:02:41,520 --> 01:02:46,960
 went up but you can still see compared to our other cities in texas we're still doing really

612
01:02:46,960 --> 01:02:53,920
 well and are below what most of their indexes are and then our housing also went down i wanted to

613
01:02:53,920 --> 01:02:59,600
 point that out last quarter we our housing index was 100 in this quarter it's 91 so with more

614
01:02:59,600 --> 01:03:04,640
 forming complexes coming online and different housing developments being completed and more

615
01:03:04,640 --> 01:03:14,480
 options our cost of housing has gone down this is the same data but compared to other cities in the

616
01:03:14,480 --> 01:03:22,480
 us um decatur illinois is the lowest cost of living place to live in the us at 79 as their index

617
01:03:23,600 --> 01:03:28,720
 this is a very rural area and you can see their housing index and their goods and service and

618
01:03:28,720 --> 01:03:34,720
 probably skewing that composite their cost of housing in that area is very much less than

619
01:03:34,720 --> 01:03:41,920
 new york manhattan at 499 um just to remind you again 100 would be average so

620
01:03:41,920 --> 01:03:48,560
 new york is almost 400 points above average um another thing i wanted to point out is i've

621
01:03:48,560 --> 01:03:55,200
 included some other college towns like kalamazoo and oxville waco they all have a lower cost of

622
01:03:55,200 --> 01:04:01,760
 living than us and then my favorite thing that i've noticed on this is the last two quarters

623
01:04:01,760 --> 01:04:05,120
 denton and nashville have had almost the exact same numbers so

624
01:04:05,120 --> 01:04:12,880
 the next few slides are residential real estate information from the greater denton wise county

625
01:04:12,880 --> 01:04:18,400
 association of realtors um it's kind of similar to that of last quarter but the median home

626
01:04:18,400 --> 01:04:25,120
 price jumped in august um but other than that they're pretty much similar with minimal changes

627
01:04:25,120 --> 01:04:31,600
 um the active listings and closed sales for july august and september stayed about the same with

628
01:04:31,600 --> 01:04:38,960
 the decreased in closed sales in september and then um days on market and days of close home started

629
01:04:38,960 --> 01:04:43,760
 to stay on the market a little longer and took a little bit longer to come towards the end of the

630
01:04:43,760 --> 01:04:51,200
 quarter and then finally for the residential section we have months of inventory september had

631
01:04:51,200 --> 01:04:57,040
 a bit more inventory which correlates with the previous slide um especially with active listings

632
01:04:57,040 --> 01:05:05,760
 and days on market next i have the commercial real estate um with our industrial availability

633
01:05:05,760 --> 01:05:12,000
 this is from our site database which we worked on throughout the year we have 23 available

634
01:05:12,000 --> 01:05:19,200
 properties and seven available lots with 3.7 million square feet and 572 acres available

635
01:05:19,200 --> 01:05:26,320
 respectively and lastly for you i have our downtown real estate britney talked a little

636
01:05:26,320 --> 01:05:32,640
 bit about our vacancy rate and she mentioned this website downtown tx this is the texas main street

637
01:05:32,640 --> 01:05:41,040
 provided website for us to input data and promote available real estate in downtown so we have 32

638
01:05:41,040 --> 01:05:47,120
 buildings for lease in downtown and 15 for sale of those for sale we have three lots and 12 buildings

639
01:05:47,120 --> 01:05:52,000
 and that's all i have for you if you have any questions or if you want to see something else

640
01:05:52,000 --> 01:05:58,320
 in this report i have my pencil i'll just let you that's a good job it's good work

641
01:05:58,320 --> 01:06:03,680
 that uh that has comparables and he was just mentioning that's kind of what i was getting

642
01:06:03,680 --> 01:06:11,120
 at yeah very good i agree with that sentiment uh just want to make sure i'm understanding

643
01:06:11,120 --> 01:06:17,360
 something correctly the multi-family permits for multi-family they're not reflected in the

644
01:06:17,360 --> 01:06:22,560
 residential side they're not reflected in that there's a whole question and they're not

645
01:06:22,560 --> 01:06:28,880
 reflected in the commercial side is that right so the multi-family isn't represented uh so there's

646
01:06:28,880 --> 01:06:34,720
 two different like multi-family excuse me two different residential numbers there's the one

647
01:06:34,720 --> 01:06:40,000
 with multi-family and without it made me when we saw one that included i think it was in the

648
01:06:40,000 --> 01:06:49,040
 commercial reception is i think i think it's in there because you have that biggest spike

649
01:06:49,040 --> 01:06:54,560
 that's got to be a multi-family so yeah it was really do the graph but multi-families in the

650
01:06:54,560 --> 01:07:04,000
 commercial right it's included i believe so i will double check for next time you know the person

651
01:07:04,000 --> 01:07:11,680
 driving around general you know layperson uh characterization of real estate activity

652
01:07:11,680 --> 01:07:16,000
 is lots of apartment buildings going on so you'd expect to see that reflectives

653
01:07:18,720 --> 01:07:28,000
 i think that's like like everyone but that's the activity so i will get a solid answer on

654
01:07:28,000 --> 01:07:33,840
 that next time and tell you where it's included or if it's not included and why anything else

655
01:07:33,840 --> 01:07:38,480
 thank you

656
01:07:44,320 --> 01:07:50,880
 continue up maybe yes uh so what i heard a lot from today is the only items we have right now

657
01:07:50,880 --> 01:07:56,880
 on the next agreement is in january we'll be bringing forward our economic development

658
01:07:56,880 --> 01:08:01,840
 partnership agreement and jamie has done such a good job i know we talked about in january

659
01:08:01,840 --> 01:08:07,920
 when we made that amendment we brought him on board he has brought so much data and dug in so

660
01:08:07,920 --> 01:08:12,880
 we'll be renewing that contract what i'm hearing though in general is maybe bringing forward work

661
01:08:12,880 --> 01:08:16,400
 plans where we talk about what we're focusing on and making sure we're aligned with what the

662
01:08:16,400 --> 01:08:20,960
 board wants to see and then i heard your item about ups a lot that is a future work session

663
01:08:20,960 --> 01:08:26,480
 i have to bring back kind of the after action what potentially would have run then any other

664
01:08:26,480 --> 01:08:31,840
 items um you can let the chair know or let you know tony and we can work with staff to bring

665
01:08:31,840 --> 01:08:40,720
 those forward yes sir i would like to take a look at um the number of food trucks that impact what

666
01:08:40,720 --> 01:08:47,120
 do we want to do there just the more i think about it right i don't know that we're getting

667
01:08:47,120 --> 01:08:54,880
 our right amount of sales tax i don't know if you don't know there's one commissary kitchen

668
01:08:54,880 --> 01:08:59,120
 that corners the market for everybody right so i'm curious i want to make sure that's

669
01:08:59,120 --> 01:09:09,520
 functioning well and then from a just a goal do we want to take a position in any way about

670
01:09:09,520 --> 01:09:15,200
 just throwing the food trucks in place and calling it done and that effect on brick and mortar

671
01:09:15,200 --> 01:09:21,920
 restaurants and dollars spent and that sort of thing it's just a low barrier to entry and i at

672
01:09:21,920 --> 01:09:26,320
 the airport it's done great i hear great things from people that makes sense but do we want to

673
01:09:26,320 --> 01:09:32,880
 be more intentional about that from a from a strategy standpoint uh so that's a great one

674
01:09:32,880 --> 01:09:36,320
 and we were having that conversation offline with staff and trying to figure out which

675
01:09:36,320 --> 01:09:41,280
 floor to kind of start with is that zoning or the question came up as we look at halloween there

676
01:09:41,280 --> 01:09:46,560
 were few trucks that came in to are we collecting that sale are they reporting the sales tax and then

677
01:09:46,560 --> 01:09:50,400
 so yes that's on the radar and that's a really good one to talk about so i will add that

678
01:09:50,400 --> 01:09:59,280
 one thing i would say about future agenda we're here to support you guys right so a lot of boards

679
01:09:59,280 --> 01:10:03,200
 i've said all in the past and this one has been this way a little bit it's all an update right so

680
01:10:03,200 --> 01:10:07,040
 i mean we sat in here listening to the update i could just read the package and not show up to

681
01:10:07,040 --> 01:10:12,960
 the meeting and so i would just keep in mind that we're in a place of support we're here giving our

682
01:10:12,960 --> 01:10:18,320
 time because we think we have some value and if we don't we shouldn't be on this board or

683
01:10:18,320 --> 01:10:24,560
 even waste our time with it so i would recommend you guys as a group say what are your challenges

684
01:10:25,360 --> 01:10:34,000
 and bring and allocate some time to discuss those specific challenges and get to less of an update

685
01:10:34,000 --> 01:10:39,600
 then and let's tackle some challenges right because that's where we feel fulfillment to be

686
01:10:39,600 --> 01:10:43,360
 honest with you i want to get here get something done i just if i just sit in here and listen to

687
01:10:43,360 --> 01:10:49,920
 an update i mean it's i gotta go to this meeting listen to something but if we feel like we bring

688
01:10:49,920 --> 01:10:56,800
 value then it's more engaging right and plus maybe we can solve some problems so that would just be

689
01:10:56,800 --> 01:11:02,880
 something i love that then i'll just go ahead and throw an agenda out for you we put in the budget

690
01:11:02,880 --> 01:11:07,120
 we want to do an incentive study and we've talked about it making sure we're competitive to the

691
01:11:07,120 --> 01:11:12,720
 incentive tools we have so we're working on what what do we want to look at so i think that's a

692
01:11:12,720 --> 01:11:16,480
 credit one to bring back in january and talk through here's where we're seeing our competitive

693
01:11:16,480 --> 01:11:20,640
 issues what else are we missing what else should we put in that scope and keep you along the way of

694
01:11:20,640 --> 01:11:32,160
 the incentive study that's good any other thoughts or questions for staff before we adjourn happy new

695
01:11:32,160 --> 01:11:39,040
 year thanks for great new year we appreciate you all happy new year merry christmas to everyone

696
01:11:40,160 --> 01:11:47,120
 thanks for all your support this year come in these meetings and thank you the staff as well so

697
01:11:47,120 --> 01:11:53,760
 unless there's other issues or other comments i'll take a motion to adjourn so i'll move all right

698
01:11:53,760 --> 01:11:59,040
 thank you guys