WEBVTT 00:00:00.000 --> 00:00:09.360 Okay, good afternoon everyone. I believe we have a forum so we will go ahead and get started. 00:00:09.360 --> 00:00:20.000 Welcome December 11, 2024. It is 1102 and I will call this meeting of our Economic Development 00:00:20.000 --> 00:00:30.560 Partnership Board to order. Items for consideration. Do we need an approval of minutes? 00:00:30.560 --> 00:00:40.560 We have a motion. Thank you. And a second. Thank you. Any discussion about the minutes? 00:00:40.560 --> 00:00:48.480 Hearing none, all in favor signify by saying aye. Aye. And any opposed? Hearing none, that passes. 00:00:48.480 --> 00:01:00.880 Thanks y'all. Let's go on into the call for items for work session. We will begin work 00:01:00.880 --> 00:01:10.000 session with item A, EDP 24-087. Good morning Board of Directors. It's great to see you as always. 00:01:10.000 --> 00:01:15.920 This time we have a microphone so I'm going to step back a little bit. I feel like I'm yelling. 00:01:18.160 --> 00:01:22.000 We are, I'm here today to present tax increment reinvestment zone number one, 00:01:22.000 --> 00:01:24.800 a boundary term and PSE amendment overview. 00:01:24.800 --> 00:01:33.360 And I've been told this presentation is pretty lengthy so I'm just going to summarize. But the 00:01:33.360 --> 00:01:39.680 TERS was first created on December 10, 2010. Over a series of the past few years there have 00:01:39.680 --> 00:01:45.600 been multiple discussions on improving the TERS and trying to amend it in some way or manner or 00:01:45.600 --> 00:01:53.040 form. In May of 2023 the amendment was presented to city council after staff hired a consultant, 00:01:53.040 --> 00:01:57.920 David Pettit Economic Development Group. David Pettit has been helping with the amendment thus 00:01:57.920 --> 00:02:05.040 far and so prior staff took the amendment to council in May of last year. Direction was 00:02:05.040 --> 00:02:09.360 provided by council to postpone the amendment until the downtown master plan was completed and 00:02:09.360 --> 00:02:16.000 other outstanding questions were answered. In September of 2024 the downtown master plan was 00:02:16.000 --> 00:02:23.200 approved by city council and the master plan included recommended a TERS one boundary expansion 00:02:23.200 --> 00:02:29.680 and also an amendment to the term and also it included catalytic project recommendations. 00:02:29.680 --> 00:02:36.320 In September of this year the amendment was presented to the TERS board and November 19th 00:02:36.320 --> 00:02:41.360 we presented it to city council during work session and on December 3rd we took it back 00:02:41.360 --> 00:02:45.440 to city council and they approved the ordinance amending the boundaries and the terms. 00:02:45.440 --> 00:02:56.240 The current downtown TERS parameters has a term through January 1st 2039 or when the revenue of 00:02:56.240 --> 00:03:01.680 24.8 million has been reached. We're the only taxing entity that is participating. 00:03:02.960 --> 00:03:08.640 We participate at a declining rate and so we're currently participating at 90 percent for years 00:03:08.640 --> 00:03:15.920 11 through 20. The boundary has approximately 226 acres and the base value when it was first created 00:03:15.920 --> 00:03:23.360 has had was 79.4 million dollars. The consultant that first put together the project and findings 00:03:23.360 --> 00:03:30.080 and plan for the TERS estimated that it would create 24.8 million dollars and so the consultant 00:03:30.080 --> 00:03:35.200 put it into four different funding buckets that included parking, complete streets, 00:03:35.200 --> 00:03:38.000 support for downtown projects and utility drainage improvements. 00:03:38.000 --> 00:03:49.440 From 2010 to 2023 the TERS certified tax values for all the properties including their Avalor 00:03:49.440 --> 00:03:59.920 valuations increased by over 182 million dollars and that was due to natural rising properties 00:03:59.920 --> 00:04:08.400 rates rightly and we did have a few catalytic projects including lease development the rail yard 00:04:08.400 --> 00:04:18.160 project and the TERS fund had an increase of actually has generated 6.6 million dollars over 00:04:18.160 --> 00:04:23.760 the term of the fund since 2010 and the current balance is 4.4 million dollars and lifetime 00:04:23.760 --> 00:04:29.760 expenditures is 2.2 million dollars. What we did not include in the in the proposed expenditures or 00:04:29.760 --> 00:04:34.000 upcoming expenditures are the fine arts theater which we have a budget of 1.5 million dollars. 00:04:34.000 --> 00:04:41.040 So why are we taking this amendment? Why are we taking to the council for approval? Number one 00:04:41.040 --> 00:04:46.640 we have catalytic projects and we need funding mechanisms. The downtown master plan consultant 00:04:46.640 --> 00:04:53.440 the MEN group recommended that we do expand the boundaries and so on their map to the right there 00:04:53.440 --> 00:04:58.880 is a the current boundaries and the proposed boundaries which has uh which is the dotted line 00:04:58.880 --> 00:05:05.680 and so the MEN group recommended that we include Carroll Street all the way up to university just 00:05:05.680 --> 00:05:12.320 including the rideaways including some of the commercial areas on North Locust and Elm also 00:05:12.320 --> 00:05:19.200 including Quaker Town Park and further south southern downtown and I'm just I have a cold right 00:05:19.200 --> 00:05:25.680 now I'm just warning you so I'm a little bit out of breath and and so we're basing this amendment 00:05:25.680 --> 00:05:30.720 based off the recommendations we want to make sure that we have uh we're we have incentives to 00:05:30.720 --> 00:05:33.120 support some of those projects that were recommended in the plan. 00:05:33.120 --> 00:05:41.920 So city council approved expanding the boundaries to include TURS 1a on December 3rd. The new 00:05:41.920 --> 00:05:46.800 boundaries will have a 2024 base so next year we will be able to uh start collecting increments. 00:05:48.960 --> 00:05:53.360 And then termination of the zone was extended to December 31st 2040 with the final year's tax 00:05:53.360 --> 00:05:59.520 increment to be collected by September 1st 2041. On December 17th we will go back to council and 00:05:59.520 --> 00:06:04.480 they will review an amended project and financing plan and that will include boundaries revenue 00:06:04.480 --> 00:06:11.520 projections and project costs. In the amount amended project and financing plan we work with 00:06:11.520 --> 00:06:18.400 the consultant to provide development assumptions so we gave them a list of development that was 00:06:18.400 --> 00:06:24.080 currently in the works for downtown and we estimated that that would generate by 2041 00:06:24.080 --> 00:06:30.160 800 to 41 million dollars and so we have a few multi-family line items we have retail and hotel 00:06:30.160 --> 00:06:35.200 a theater that's a fine arts theater some of the multi-family that's listed includes the 00:06:35.200 --> 00:06:41.280 rail yard laying program uh apartments there's three phases and so the second and third phase 00:06:41.280 --> 00:06:45.680 has not hit the tax rolls yet and so we're assuming that that will hit pretty soon and 00:06:45.680 --> 00:06:51.440 that will go into the turds the great news about that development is that we did not provide 00:06:51.440 --> 00:06:56.640 incentives up front and so that their development is within the turds and we will start including 00:06:56.640 --> 00:07:05.440 increment. In total the consultant estimates that we will generate 50.2 million dollars 00:07:05.440 --> 00:07:12.000 within the turds so we'll have additional funding mechanisms to support the catalytic projects. 00:07:15.120 --> 00:07:20.560 And the consultant has a list of guidelines and funding buckets that he divvies up the 50.2 00:07:20.560 --> 00:07:27.360 million dollars into recommended funding buckets and so this is not a concrete list any item can 00:07:27.360 --> 00:07:36.000 be changed in a moment's notice and so we have a few water facility improvements a few infrastructure 00:07:36.000 --> 00:07:40.320 improvements open space park and recreation facilities economic development grants and 00:07:40.320 --> 00:07:45.440 administrative costs so we don't propose that there will be any infrastructure updates in the 00:07:45.440 --> 00:07:51.360 near future but maybe in 2039 there could be and any items that are funded by the turds 00:07:51.360 --> 00:07:57.680 would be supplementary to our capital projects team whatever they're working on at the time if 00:07:57.680 --> 00:08:02.000 they have funding available we will work with them because I don't believe that we'll have enough 00:08:02.000 --> 00:08:11.360 funding to cover an entire infrastructure project and so our as I stated earlier we will go back 00:08:11.360 --> 00:08:18.800 to council on december 17th and we will hopefully get their approval on the amended project plan 00:08:18.800 --> 00:08:24.800 and next year we'll have the funds available and we can start planning for projects new projects 00:08:24.800 --> 00:08:35.040 downtown so we're excited any questions I saw on the breakout there was five million or so in parking 00:08:35.040 --> 00:08:45.120 and uh what is it transit funds what's what's the what's going on with the park situation 00:08:45.120 --> 00:08:49.360 or what's being projected or talked about downtown that's not a big challenge for us 00:08:50.000 --> 00:08:55.840 it's a great question so the city is in the works of completing a parking study I haven't been 00:08:55.840 --> 00:09:00.800 I was closely involved in those discussions here from our business owners is that parking can be 00:09:00.800 --> 00:09:06.640 an issue to attracting patrons I believe the downtown study Mr. Meltzer may know a little 00:09:06.640 --> 00:09:10.880 bit more because he hears it directly he can probably comment on that that there may not be 00:09:10.880 --> 00:09:16.640 a parking issue that there are available parking spots it's just not directly in front of business 00:09:16.640 --> 00:09:22.320 fronts and so when the original project and financing plan was created I believe that the 00:09:22.320 --> 00:09:29.520 consultants I work with staff they were proposing a parking garage that was back in 2010 and we now 00:09:29.520 --> 00:09:35.200 we do have a parking garage with NCTC and I believe there's another one that's proposed right now 00:09:35.200 --> 00:09:43.920 and so I think that was our initial thoughts is we did have a briefing it's not done yet 00:09:43.920 --> 00:09:52.000 we got a briefing at the gentlemen code review committee for example yesterday before yesterday 00:09:52.000 --> 00:09:59.600 yeah and then I found that a really surprising result that even at peak which I think was like 00:09:59.600 --> 00:10:06.320 saturday and you know kind of going to the bar time the utilization of downtown spaces is 79 00:10:06.320 --> 00:10:12.160 percent I don't know a single person who feels like that so some of the things that they're 00:10:12.160 --> 00:10:19.040 talking about are uh you know enforcement which there really isn't enforcement now like uh time 00:10:19.040 --> 00:10:26.800 limited parking so the spaces open up uh improved signage and just this is just a you know just a 00:10:26.800 --> 00:10:33.840 little uh appetizer of it the thing that caught my eye which is viewed as like a little longer 00:10:33.840 --> 00:10:40.000 to get to is uh but not totally far away it's smart signs you know how like when you go to 00:10:40.000 --> 00:10:46.560 the airport to park in the garage you know this a sign that that in real time says there's 18 00:10:46.560 --> 00:10:53.440 spaces this way there's five that way uh they're they're looking at first of all having sensors 00:10:53.440 --> 00:10:58.560 at the spots anyway so that they could use it for enforcement because like I said there really isn't 00:10:58.560 --> 00:11:07.120 any once you do that it's not a a big stretch especially using available wi-fi uh to to uh 00:11:07.120 --> 00:11:14.320 connect that to an app or even better to smart signage so instead of spending 17 minutes to find 00:11:14.320 --> 00:11:20.880 that 21 of spots that are still available you get directed right to it maybe it feels more like you 00:11:20.880 --> 00:11:29.440 have the amount of parking there really is that that's great uh so we're working with our 00:11:29.440 --> 00:11:35.280 transportation department on implementing cold technology um so hopefully that will solve our 00:11:35.280 --> 00:11:39.680 parking issue but that's all coming together right now great question thank you 00:11:39.680 --> 00:11:49.200 this is for information only right right any other questions before we have the next topic 00:11:49.200 --> 00:11:53.680 which is uh e2p 24-085 00:12:05.280 --> 00:12:13.680 um 00:12:13.680 --> 00:12:20.400 good morning um my name is julissa amador i work over in the environmental services 00:12:20.400 --> 00:12:25.760 and sustainability i work in the sustainability division um i'm the senior program coordinator 00:12:25.760 --> 00:12:30.000 so i'm going to be doing a presentation on the green business uh update 00:12:34.320 --> 00:12:39.040 so a little bit of background if you guys um may be familiar with it or have heard about it in the 00:12:39.040 --> 00:12:45.600 past um there was a pilot program in 2019 where nine businesses participated during that 12 month 00:12:45.600 --> 00:12:51.680 period um of course uh we did have to put the program on hold due to the pandemic and staffing 00:12:51.680 --> 00:12:58.720 shortages but we are going to be launching the program january 1 of this upcoming year 2020 00:13:01.120 --> 00:13:07.360 a little overview of the program so the intent of the green business program is to educate 00:13:07.360 --> 00:13:13.440 and encourage businesses but it's also able to highlight things that they're already doing so 00:13:13.440 --> 00:13:18.960 sustainability practices practices that they've already implemented within their business and so 00:13:18.960 --> 00:13:26.240 this gives that opportunity we will be breaking that out into different focus areas so um the 00:13:26.240 --> 00:13:33.200 focus areas mirror the sustainability framework uh water energy transportation materials management 00:13:33.200 --> 00:13:38.880 wildlife and community resilience as part of the green business program it is going to give the 00:13:38.880 --> 00:13:43.280 opportunity for businesses to be able to network with each other share information about what 00:13:43.280 --> 00:13:47.600 they're doing what they're implementing at their business um they can also talk about corporate 00:13:47.600 --> 00:13:52.400 policies that they've uh you know that their corporations have already implemented and be able 00:13:52.400 --> 00:14:02.400 to share that information so here's some program specifics so to participate um in the program you 00:14:02.400 --> 00:14:06.480 first have to fill out the questionnaire so the questionnaire kind of gives us a baseline for 00:14:06.480 --> 00:14:11.440 what the business is already doing and that is the only requirement to join the green business 00:14:11.440 --> 00:14:16.960 program and you would join in at the lowest level which is a bronze level to go up in levels of 00:14:16.960 --> 00:14:22.240 participation you would have to come a business would have to complete additional steps so those 00:14:22.240 --> 00:14:29.040 additional steps can look like joining cohorts community engagement and then also ongoing 00:14:29.040 --> 00:14:36.160 participation to touch a little bit on the cohorts so a business can join a cohort and that would be 00:14:36.160 --> 00:14:42.240 based on a focus area so let's say a business is interested in reducing its waste they would 00:14:42.240 --> 00:14:48.240 join a materials management cohort and then also join that cohort with similar businesses as well 00:14:48.240 --> 00:14:53.520 so those would be businesses that would meet once a month for a three to four month time frame 00:14:53.520 --> 00:14:58.720 and it gives them the opportunity to be able to learn a little bit more about that specific focus 00:14:58.720 --> 00:15:05.520 area and there will also be the opportunity to have to be a part of community engagement so for 00:15:05.520 --> 00:15:12.640 community engagement a business can post on social media of what sustainability practices are already 00:15:12.640 --> 00:15:19.920 doing they can also host an event they can host a cohort class if they would like to they can also 00:15:19.920 --> 00:15:26.960 host a volunteer event community engagement can also look like signage so signage within 00:15:26.960 --> 00:15:30.400 your business just talking a little bit about some of the sustainability practices that your 00:15:30.400 --> 00:15:36.720 business is already undertaking and then ongoing participation so we would check in with the 00:15:36.720 --> 00:15:42.560 businesses at six months and then have an annual report where they can just tell us a little bit 00:15:42.560 --> 00:15:49.040 about what they've done within that calendar year this is what that questionnaire looks like so this 00:15:49.040 --> 00:15:54.880 is what the only requirement that you would need to join the program so it's broken out into some 00:15:54.880 --> 00:16:01.200 basic metrics so for the resource conservation like energy water and materials management 00:16:01.200 --> 00:16:04.640 that's going to look like a lot of the utility billing that you already have so your energy 00:16:04.640 --> 00:16:11.200 consumption your water consumption your solid waste service as well so to include the basic 00:16:11.200 --> 00:16:17.760 metrics and then a checklist so this isn't all encompassing but it's just to give some 00:16:17.760 --> 00:16:23.200 options of what your business is already doing so for this example this is the water focus area 00:16:23.760 --> 00:16:31.680 and so are you did you already install low flow faucet fixtures do you you know do you utilize 00:16:31.680 --> 00:16:37.920 zero escaping at your business do you conduct water audits those are just some examples of what 00:16:37.920 --> 00:16:43.200 a business could be doing and it gives them also some ideas as well but we also do include a short 00:16:43.200 --> 00:16:49.840 answer opportunity for the businesses to be able to tell us their story if the other if the previous 00:16:49.840 --> 00:16:54.560 sections don't cover what they're doing this section will hopefully be able to provide them 00:16:54.560 --> 00:17:02.560 the opportunity to elaborate a little bit more so recognition and awards we want to recognize 00:17:02.560 --> 00:17:08.320 the businesses that are participating in the program with window clings so if a business 00:17:08.320 --> 00:17:13.600 is a green level business for example they would get they would receive a window cling to put on 00:17:13.600 --> 00:17:19.520 their business but we also will have awards as well so the awards will be based on the following 00:17:19.520 --> 00:17:26.160 categories and also be broken out by employer styles so those categories are resource conservation 00:17:26.160 --> 00:17:31.040 which include water energy and materials management transportation wildlife and community 00:17:31.040 --> 00:17:37.120 resilience so we want to see within that calendar year what businesses are having the biggest 00:17:37.120 --> 00:17:42.720 improvement based on those following categories and the employer sizes that we have are small 00:17:42.720 --> 00:17:50.560 medium and large where we're considering small one to 75 employees medium 76 to 300 and then large 00:17:50.560 --> 00:17:56.720 is 300 plus employees we're also going to give businesses the opportunity to talk about a project 00:17:56.720 --> 00:18:01.040 of the year which is going to be its own separate application and the project of the year will just 00:18:01.040 --> 00:18:05.600 basically be if a business has taken on a sustainability initiative that they're very proud of 00:18:05.600 --> 00:18:10.160 they're able to provide that information and include it in there as well so we would be able 00:18:10.160 --> 00:18:15.440 to give them an award based on the categories and then a separate award for a project this year 00:18:15.440 --> 00:18:22.320 we of course want to spread the word and be able to utilize our partners so we will definitely be 00:18:22.320 --> 00:18:26.640 working with economic development very heavily and other community organizations to get more 00:18:26.640 --> 00:18:32.000 involvement for additional businesses but also to spread the word about participation in the program 00:18:34.720 --> 00:18:40.160 so next step uh january 1 is right around the corner so uh launching the program of course 00:18:40.160 --> 00:18:45.120 spreading the word that the program exists launching the cohort classes just based on 00:18:45.120 --> 00:18:50.160 the businesses that we get and what they are interested in seeing and then reporting ongoing 00:18:50.160 --> 00:18:53.920 participation do you have any questions 00:18:53.920 --> 00:19:00.560 hearing no questions thank you 00:19:05.600 --> 00:19:09.200 we can come we can come back to with you on that one 00:19:09.200 --> 00:19:15.280 for the program to have this program what's the annual budget for that 00:19:15.280 --> 00:19:25.120 a lot of it is more of staff time because we have some of the printing costs associated with it but 00:19:25.120 --> 00:19:30.480 it doesn't compare to some of the other programs that we have different incentives for and things 00:19:30.480 --> 00:19:35.520 like that i don't know what that means exactly compared to what what's the what's an average 00:19:35.520 --> 00:19:42.000 then what's an average cost for an average program then so um our solid waste and recycling 00:19:42.000 --> 00:19:48.160 uh education that we do within our department has a different budget than um the green business 00:19:48.160 --> 00:19:52.240 program for example i don't know off the top of my head but i can get that number to you later 00:19:52.240 --> 00:19:56.400 i think it'd be good just as a general rule like whenever we have programs that we're talking about 00:19:56.960 --> 00:20:02.880 that we had an annual cost to the city for what that what that program is and and i wouldn't 00:20:02.880 --> 00:20:08.560 exclude the cost of time for the employee because the city has to pay that employee for their time 00:20:08.560 --> 00:20:12.320 and it would be elsewhere otherwise it may be a good idea for us to have that on an ongoing 00:20:12.320 --> 00:20:20.000 basis when we're looking at when we're being informed about this i would tell you as a large 00:20:20.000 --> 00:20:27.600 employer that stuff like this is needed it helps with community relations and everything so i 00:20:27.600 --> 00:20:34.720 appreciate the effort i would even say you might as this goes on if you might even consider a 00:20:34.720 --> 00:20:42.240 separate awards application just to kind of offset some of your costs people might participate in 00:20:42.240 --> 00:20:50.240 that just little things like that that's not uncommon and it might be expected this place 00:20:50.240 --> 00:20:55.440 i believe we started coordinating with um our environmental services whatever you did propose 00:20:55.440 --> 00:21:01.120 an award program or some type of recognition for businesses other practicing sustainability measures 00:21:01.120 --> 00:21:10.160 so thank you i mean it that's our i mean HACVAR asks every year for every different environmental 00:21:10.160 --> 00:21:14.000 award that every division gets i mean so it's a big deal 00:21:14.000 --> 00:21:24.720 thank you all right thank you no vote needed on that either so we'll move to staff reports 00:21:24.720 --> 00:21:27.040 and uh just end the quarter thanks rick 00:21:27.040 --> 00:21:39.920 so last month matilda weed and our economic development specialist attended the texas 00:21:39.920 --> 00:21:44.320 economic development council basic economic development course and so this is something 00:21:44.320 --> 00:21:49.360 that was really excited she got to attend because when you go you're immersed in a week long training 00:21:49.360 --> 00:21:54.640 program you get to collaborate with professionals all over the state of texas and learn what they're 00:21:54.640 --> 00:22:00.880 working on you have people that have been in economic development for over 20 decades 20 years 00:22:00.880 --> 00:22:06.400 the same decades 20 years that are teaching these young professionals what the economic development 00:22:06.400 --> 00:22:11.760 career is all about and so i was really excited that she attended um and then she also attended 00:22:11.760 --> 00:22:17.360 the texas music office sounds and cities conference matilda manages our music friendly certification 00:22:17.360 --> 00:22:24.160 every year with the state and she won an award this year she won the excellence award 00:22:24.160 --> 00:22:26.480 so congratulate matilda 00:22:31.760 --> 00:22:36.480 we also held a small business boot camp workshop this is something that i mentioned briefly 00:22:36.480 --> 00:22:41.840 mentioned during last meeting it was a partnership with the city and score fort worth it was 00:22:41.840 --> 00:22:46.560 coordinated by our office development services and community services and we also also did work with 00:22:46.560 --> 00:22:54.160 the edp in the chamber we held two workshops in a business fair this started because bob sifferman 00:22:54.160 --> 00:23:00.080 he's the chairman of score fort worth it is a network of volunteers that are retired executives 00:23:00.080 --> 00:23:03.600 that are just looking for something to do but they have all the skill sets and wisdom to share 00:23:03.600 --> 00:23:08.400 and so bob's a chairman he's based out of fort worth i used to work with him at the city of 00:23:08.400 --> 00:23:12.720 arlington and so when i moved to the city of ditten he said hey we want to work with ditten 00:23:12.720 --> 00:23:19.120 and so it's a free resource they provide free mentoring to entrepreneurs for business plans 00:23:19.120 --> 00:23:24.320 accounting marketing you name it so the first business workshop was just a general overview of 00:23:24.320 --> 00:23:30.000 what a business plan consists of in the second workshop was a social media breakdown and also 00:23:30.000 --> 00:23:34.560 an accounting overview so that was really nice i really enjoyed the accounting overview because 00:23:34.560 --> 00:23:38.800 i think most small businesses need help financial assistance and understanding their profit and loss 00:23:38.800 --> 00:23:43.840 statements a little bit better and this was all made possible by courtney and our community 00:23:43.840 --> 00:23:51.200 services department there was a grant that was from the icma economic mobility grant program 00:23:51.200 --> 00:23:56.000 that she applied for and so she volunteered to assist with putting these workshops together 00:23:57.760 --> 00:24:03.200 and this is our cohort there was more people i think the first session how many people originally 00:24:03.200 --> 00:24:10.320 signed up matilda i'm like 17 17 showed up the first time and i think they kind of turned on the 00:24:10.320 --> 00:24:17.120 second our new community profiles over the past few months we have been working on updating our 00:24:17.120 --> 00:24:23.440 marketing materials every community in the dfw metroplex has a community profile with demographics 00:24:23.440 --> 00:24:30.080 and general stats about the city and so we have updated our profile and that will be printed next 00:24:30.080 --> 00:24:35.280 month and we will provide this to you we can also send you a digital copy so this will be helpful 00:24:35.280 --> 00:24:40.960 for developers if you're talking to clients you can provide this document to show them what we're 00:24:40.960 --> 00:24:45.680 all about for the next one to two years we're going to be using the tagline where creativity meets 00:24:45.680 --> 00:24:51.840 commerce we thought that was fitting of denton we have to find a way to stand out from the other 00:24:51.840 --> 00:24:57.680 cities and i think we are unique right we have to embrace our uniqueness so we we figured that 00:24:57.680 --> 00:25:03.360 we would highlight that in our graphic design and this was also kind of a collaboration 00:25:03.360 --> 00:25:07.600 between the edb colors the lime green and also the city of denton colors 00:25:07.600 --> 00:25:15.280 our quarterly recruitment stats over the past quarter we've had 18 active projects 00:25:15.280 --> 00:25:20.320 two of those received incentives one announced an expansion and four currently planning potential 00:25:20.320 --> 00:25:26.480 site visits um rfis kristina's been working hard on responding to rfis that are submitted to the 00:25:26.480 --> 00:25:30.960 dallas reno chamber we're in the state economic development governor's office and so we had a 00:25:30.960 --> 00:25:36.320 total of nine submitted one that aerospace two automotive supply chain and two green energy and 00:25:36.320 --> 00:25:42.000 four manufacturing and then we have four active projects currently in the downtown reinvestment 00:25:42.000 --> 00:25:51.760 grant process for this year we've had a total of 76.9 million in capital investment generated 00:25:51.760 --> 00:25:57.760 and 438 jobs thank you for your support this is all due to your efforts so let's everyone 00:25:57.760 --> 00:26:05.040 have a hand i think this is a good start for 2024 i'm excited about it i don't know about you 00:26:05.040 --> 00:26:09.520 but we have stolts air technology systems we didn't put their capital investment numbers on 00:26:09.520 --> 00:26:14.240 there because we want to ensure that they're okay with us releasing it to the public but we also 00:26:14.240 --> 00:26:20.400 engine tech north america their incentives were approved by city council and so we have estimated 00:26:20.400 --> 00:26:26.400 5.7 million capital investments line art theater and south wire what's not included on here is 00:26:26.400 --> 00:26:34.240 core scientific's new deal it's a 6.1 million billion or billion i think it's a billion actually 00:26:34.240 --> 00:26:41.760 deal of course scientific has least space from the city a few years ago for data mining they 00:26:41.760 --> 00:26:47.840 kind of had an up and down uh flow of other business operations they went bankrupt and then 00:26:47.840 --> 00:26:52.560 they were they came back online but it was a slow start but now they are renovating their facilities 00:26:52.560 --> 00:26:57.040 and expanding and we'll lease it out to a large user and so we're excited about it and the capital 00:26:57.040 --> 00:27:02.640 investment amount is estimated at 6.1 billion dollars and 300 jobs so if you add that that's 00:27:02.640 --> 00:27:09.520 a little over 700 jobs that we've created for the city of ditton our upcoming opportunities 00:27:09.520 --> 00:27:18.560 for last year 2023 staff structure we had erica sullivan our economic development program 00:27:18.560 --> 00:27:24.000 administrator christina davis business development program administrator matilda leeden economic 00:27:24.000 --> 00:27:29.120 development specialist leading the department last year after the former director left in 00:27:29.120 --> 00:27:35.920 october they were just kind of managing the department on their own there was a an economic 00:27:35.920 --> 00:27:42.720 development analyst at the time and then he left and so it was a small team working on economic 00:27:42.720 --> 00:27:49.120 development projects this year now we have a full staff you have myself that joined in march 00:27:49.120 --> 00:27:54.720 christen feluto who joined in november of last year main street program manager if you can recall 00:27:56.240 --> 00:28:01.360 the department did not have a mainstream manager solely focused on downtown but that was in 00:28:01.360 --> 00:28:05.520 partnership with downtown main street association where a mainstream manager was brought in to our 00:28:05.520 --> 00:28:11.280 department and we also have clay parker now who his position was formerly a business analyst and 00:28:11.280 --> 00:28:17.040 now has been transformed to business recruitment specialist and so we have a full staff and we're 00:28:17.040 --> 00:28:22.560 ready to go for next year we also work closely with development services charlie rosendahl business 00:28:22.560 --> 00:28:26.960 services manager we work with him all the time anytime that we have a prospect visits where 00:28:26.960 --> 00:28:32.240 company's coming in for a site tour we bring charlie in to go over their development services 00:28:32.240 --> 00:28:38.000 program where their their processes because as you know it's not always as easy right so he's 00:28:38.000 --> 00:28:44.720 able to break it down for them to let the prospect know how how quickly and easy they will get their 00:28:44.720 --> 00:28:52.000 permit and he was actually instrumental in getting wing launch at the loop 288 walmart and help them 00:28:52.000 --> 00:28:58.000 do the permitting process so very thankful for charlie also we owe big thanks to venice exparsa 00:28:58.000 --> 00:29:04.240 administrative assistant number two because she helps us get all of our boards uh coordinated our 00:29:04.240 --> 00:29:10.160 catering she gets our minutes on our documentation she does everything and this is only she manages 00:29:10.160 --> 00:29:15.840 multiple departments so we're very thankful for her and carly also she's been helping out as well 00:29:21.440 --> 00:29:26.160 we get one more i'm sorry the one with the businesses on it 00:29:26.160 --> 00:29:32.880 it'd be good to see the economic impact of that if we have a summary like that 00:29:32.880 --> 00:29:37.360 okay it's like the s usually your same model saying this is the economic impact 00:29:37.360 --> 00:29:43.840 i like it all right this is i mean that's really to me it's more important than the capital 00:29:43.840 --> 00:29:47.440 investment too even right it's like that's interesting but this is what it's going to do 00:29:47.440 --> 00:29:53.280 for dinner i think that needs to be the tagline right at the end of the day yes you can put that 00:29:53.280 --> 00:30:03.360 up there i like it thank you so opportunities for uh next year recruitment strategy we're 00:30:03.360 --> 00:30:08.960 working on a recruitment strategy uh right now we're identifying sites we already have a few 00:30:08.960 --> 00:30:15.520 sites available if you go to downtown tx uh dot org right dot org there's a list of downtown 00:30:15.520 --> 00:30:20.560 properties but we're constantly thinking of ways to redevelop and areas to redevelop and working 00:30:20.560 --> 00:30:25.840 with those landowners so our key targets for next year where we're actually going to reach out to 00:30:25.840 --> 00:30:31.200 these prospects will be around retail entertainment um fast casual was a recommendation by christen 00:30:31.200 --> 00:30:35.760 paloo there our mainstream manager because where is there is there a spot where you can go downtown 00:30:35.760 --> 00:30:40.080 where you can just grab a food item right where it's quick yeah there's there's a lot of sit-down 00:30:40.080 --> 00:30:44.240 restaurants but is there any fast casual and we're not talking about franchises we're thinking of 00:30:44.240 --> 00:30:50.880 unique concepts housing the downtown master plan recommended 1500 units and so that's something 00:30:50.880 --> 00:30:55.520 we're looking into i think town homes downtown would be would be great i would personally look 00:30:55.520 --> 00:31:01.840 into something purchasing one of those uh catalyst projects uh we there's a few catalysts that are 00:31:01.840 --> 00:31:06.240 recommended one of them that i'm most excited about is a redevelopment of city hall west 00:31:06.240 --> 00:31:12.240 the city owns that property and also owns a parking lot behind it as well and so there's a 00:31:12.240 --> 00:31:17.520 lot of opportunity with um development services there's also the cross timbers site that is for 00:31:17.520 --> 00:31:22.960 sell um directly behind development services so there's a lot of opportunity in this area 00:31:22.960 --> 00:31:27.600 and we've had a few developers reach out to us we've toured them at city hall west and so 00:31:27.600 --> 00:31:32.640 that's something that we are going to start working on a q1 of next year and of course growing our 00:31:32.640 --> 00:31:38.160 existing businesses there are tons of small vendors and we have a large entrepreneur ecosystem 00:31:38.160 --> 00:31:42.560 here so we want to make sure that we're supporting those businesses and maybe supporting them to get 00:31:42.560 --> 00:31:48.480 into brick and mortar facilities and the current vacancy rate is 5.2 percent 00:31:48.480 --> 00:31:56.800 recruitment strategy for industrial next year we're really going to hit the emails hard at 00:31:56.800 --> 00:32:02.160 linkedin profiles where we're directly reaching out to company executives clay parker or business 00:32:02.160 --> 00:32:06.720 specialist will be leading that effort and so we are identifying companies right now to 00:32:07.760 --> 00:32:13.840 start reaching out to based on this our site availability we will attend the verticon aviation 00:32:13.840 --> 00:32:18.880 conference and q1 of next year that is held in dallas if anyone would like to go please let us 00:32:18.880 --> 00:32:23.520 know i think we have two free passes that we can let you into so if you're interested let us know 00:32:23.520 --> 00:32:29.280 again we're monitoring our start database continually updating and then we'll continue 00:32:29.280 --> 00:32:34.640 working with our partners our universities we're still working really closely with unt to build a 00:32:34.640 --> 00:32:40.880 u.s ecosystem here making sure that we are a landing pad for some of those companies that 00:32:40.880 --> 00:32:47.440 want to come into the u.s or maybe just start their their u.s company so that we are working 00:32:47.440 --> 00:32:53.360 with the research and development department and with dr harrison keller that just joined on board 00:32:53.360 --> 00:33:00.080 i think that he'll be supportive of some of those efforts and then we're working with the airport 00:33:00.080 --> 00:33:05.440 ryan adams the director we're looking at land around the airport to recruit prospects in and 00:33:05.440 --> 00:33:11.280 again we're working with him on u.s innovation projects we're continuing to work with dme with 00:33:11.280 --> 00:33:15.520 all their efforts with with data centers and electricity in general there's a lot of opportunity 00:33:15.520 --> 00:33:22.080 there and of course working with our partners jamey adams at edp stoke dmsa the downtown 00:33:22.080 --> 00:33:28.080 management is uh did i get that right downtown mainstream association and the chamber and the 00:33:28.080 --> 00:33:35.440 vacancy rate for industrial is 17.1 according to co-star let's talk about our challenges this is 00:33:35.440 --> 00:33:44.080 what i love to talk about i'm kidding we have quite a few boards in total we have six board 00:33:44.080 --> 00:33:49.840 boards that we report to four that are direct and two that are indirect now we love our board 00:33:49.840 --> 00:33:55.280 directors we appreciate all your support and your wisdom that you bring to our efforts it's more of 00:33:55.280 --> 00:34:01.360 the administrative side that is kind of eating our lunch right now and so we're looking at ways ideas 00:34:01.360 --> 00:34:08.320 options and we're open to hearing your ideas on how to improve the process for boards our posting 00:34:08.320 --> 00:34:13.280 turnaround time for example and this is i'm going back to the administrative side for this meeting 00:34:13.280 --> 00:34:20.240 for our january meeting for edp b we will have to go uh create a draft agenda item on december by 00:34:20.240 --> 00:34:27.520 december 23rd and then by december 30th we will have to launch the next agenda and finalize it 00:34:27.520 --> 00:34:33.120 for posting and so as you can imagine that's two weeks from now with christmas all the holidays 00:34:33.120 --> 00:34:38.560 activities that would be the following actually next week that we prepare so estimated staff time 00:34:38.560 --> 00:34:45.760 for preparing for the boards is about 20 hours per meeting for all the staff members and so it's 00:34:46.560 --> 00:34:51.920 taking time away from working on projects and networking with some of our partners 00:34:51.920 --> 00:34:57.280 and we're having to plan for the administrative side so that's just one board and we just wanted 00:34:57.280 --> 00:35:02.240 to highlight that it's it's so that you're aware and if you have any ideas please let us know 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 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 00:35:13.760 --> 00:35:18.720 he starts on other boards so that's kind of the issue that we're running into is a lot of our 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 00:35:23.120 --> 00:35:33.680 over again so we are open to any ideas on our board structures also the dallas business journal 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 00:35:40.240 --> 00:35:44.320 to the economic development agencies and ask them how many deals have you supported or how 00:35:44.320 --> 00:35:50.080 many deals have been passed in your city and so unfortunately didn't was not listed we did submit 00:35:50.080 --> 00:35:56.240 our capital investment numbers at that point we only had the fine arts theater and so we 00:35:56.240 --> 00:36:02.480 weren't on the list i think there was a total 18 economic development agencies but next year 00:36:02.480 --> 00:36:07.360 we will definitely be on this list and my hope is that we will be in the top three next year so 00:36:07.360 --> 00:36:13.760 fingers crossed and that is all we have questions any ideas any 00:36:13.760 --> 00:36:18.800 ideas for us to work anything that you would like us to work on next year 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 00:36:28.560 --> 00:36:34.480 distribution center from dentland which they did on october the 15th so we lost over 100 drivers 00:36:34.480 --> 00:36:40.240 making over 100 grand a year plus 50 or 60 support people because they've been trying to 00:36:40.240 --> 00:36:45.360 negotiate with city then over five years to expand their facilities so they could do more automation 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 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 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 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 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 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 00:37:20.480 --> 00:37:25.520 our business retention expansion program and erin maybe you want to comment that's a part of that 00:37:25.520 --> 00:37:30.720 program is ensuring that we are pertaining to or helping our existing businesses grow and stay in 00:37:30.720 --> 00:37:36.960 the in the region sorry city uh jamie would you like to comment on i know that jamie had reached 00:37:36.960 --> 00:37:47.760 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 00:37:47.760 --> 00:37:53.280 you know they want to stay they want to be a part of here and they wanted to press to work something 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 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 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 00:38:10.880 --> 00:38:16.960 businesses and having helping them expand uh this is one that we hate that we lost i don't expect an 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 00:38:23.440 --> 00:38:31.200 lose uh move we tried to uh to help them address that and we didn't so um hopefully hopefully it 00:38:31.200 --> 00:38:35.360 doesn't happen again the problem was five years ago when they started talking you guys are new 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 00:38:41.600 --> 00:38:47.680 successor yeah that's a long time so i think something important i didn't know that they 00:38:47.680 --> 00:38:52.880 had moved but i think something important is to analyze that and say the answer of hey there's 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 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 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 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 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 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 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 00:39:29.040 --> 00:39:34.480 without ups working part-time there and so those are those are things that bring value to our 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 00:39:40.640 --> 00:39:46.640 when i was there so i think we really need to analyze that i'm glad you brought that up because 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 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 00:39:56.960 --> 00:40:03.280 some understanding of steve probably the same way of how capital budget processes work in private 00:40:03.280 --> 00:40:10.240 corporations because if they're trying to put a five-year plan together and they've got capital 00:40:10.240 --> 00:40:14.880 that they have to spend on a certain budget if you say no or you become a roadblock it goes 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 00:40:19.520 --> 00:40:24.560 that each have an roi and they're like hey if this one i can't do i'm going to the next one 00:40:24.560 --> 00:40:30.000 i got to get my shareholders their value it just is it is what it is i just think you have to 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 00:40:35.680 --> 00:40:40.400 had some issues you know a lot of people have helped because we escalated them where we could 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 00:40:46.480 --> 00:40:52.960 how long permits take and how long we have to allocate capital and all these things can really 00:40:52.960 --> 00:41:01.120 drive uh didn't losing business versus somewhere else because they every corporation ups you know 00:41:01.120 --> 00:41:07.040 these large corporations they have a list of thousand plus probably capital projects that 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 00:43:19.680 --> 00:43:25.440 reinforces your comment about time and the management you have you know i am on 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 00:45:08.160 --> 00:45:11.760 to that point is that something that can go somewhere else so there's some additional 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 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 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 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 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 00:45:42.560 --> 00:45:48.240 that information so it is a challenge there because you want to keep those people informed 00:45:48.240 --> 00:45:52.720 because they are kind of the lifeline for downtown as well 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 00:46:01.120 --> 00:46:07.600 we'll still maintain quorum with that but happy holidays merry christmas everyone thank you for 00:46:07.600 --> 00:46:11.280 your engagement throughout the year and i look forward to seeing you in january 00:46:11.280 --> 00:46:21.920 i don't think there's any more questions 00:46:28.960 --> 00:46:33.760 jamie adams economic development partnerships going to give a little recap of the year 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 00:46:42.720 --> 00:46:48.960 economic development partnership was entered in the formal agreement in 1986 so approaching 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 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 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 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 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 00:47:23.200 --> 00:47:29.760 from an investor standpoint the people who are investing are helping to grow businesses in denton 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 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 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 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 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 00:48:03.440 --> 00:48:10.640 attending those 11 events i was able myself go out to about 14 community presentations 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 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 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 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 00:48:31.760 --> 00:48:36.080 going out to the community presentations are really key for us and hopefully we continue to 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 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 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 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 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 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 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 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 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 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 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 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 00:49:53.200 --> 00:49:59.920 very important when you look down the links people are going to interactive map that economic 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 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 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 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 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 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 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 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 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 00:50:57.360 --> 00:51:02.720 wants something different whether it's events whether it's networking whether it's uh just 00:51:02.720 --> 00:51:09.120 engagement from our from our weekly emails uh making sure we take care of our investors 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 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 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 00:51:33.840 --> 00:51:40.320 but be on the lookout in 2025 but the end we want to be engaged at 00:51:42.480 --> 00:51:43.520 there you go see 00:51:43.520 --> 00:51:53.120 about any questions that you guys have or any points 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 00:53:36.720 --> 00:53:42.160 just general advice i think it'll help make everybody more efficient because you know exactly 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 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 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 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 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 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 00:54:18.800 --> 00:54:24.160 they they probably went to the development department or whatever the the stopping point 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 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 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 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 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 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 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 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 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 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 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 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 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 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 00:55:39.680 --> 00:55:43.680 development services right and then also the business hat because sometimes you're right 00:55:43.680 --> 00:55:48.080 the development services folks are not always thinking of what business uh folks are thinking 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 00:58:27.200 --> 00:58:37.040 certainly information okay thank you thank you 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 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 00:58:57.280 --> 00:59:02.240 and i presented this back to you guys in september with the previous quarters numbers 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 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 00:59:18.080 --> 00:59:25.200 are from subdivision type development where there's multiple homes being built at once i 00:59:25.200 --> 00:59:30.160 believe last time i presented this somebody asked if this includes multifamily it doesn't 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 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 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 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 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 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 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 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 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 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 01:00:43.120 --> 01:00:47.920 moving on to sales tax collection this time the present year is in red not green 01:00:47.920 --> 01:00:54.720 in september we finished with 5.2 million in sales tax collection which was higher than 01:00:54.720 --> 01:01:00.560 last september and then july's numbers were also higher than last year and then august 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 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 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 01:01:20.640 --> 01:01:27.520 then the national level so last quarter our unemployment rate was higher than in years past 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 01:01:35.440 --> 01:01:41.520 fluctuation because of students and then our teacher educator population there are more 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 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 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 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 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 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 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 01:02:34.720 --> 01:02:41.520 council approved the utility rate increase our utilities did go up and our our utility index 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 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 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 01:02:59.600 --> 01:03:04.640 forming complexes coming online and different housing developments being completed and more 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 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 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 01:03:28.720 --> 01:03:34.720 probably skewing that composite their cost of housing in that area is very much less than 01:03:34.720 --> 01:03:41.920 new york manhattan at 499 um just to remind you again 100 would be average so 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 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 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 01:04:01.760 --> 01:04:05.120 denton and nashville have had almost the exact same numbers so 01:04:05.120 --> 01:04:12.880 the next few slides are residential real estate information from the greater denton wise county 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 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 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 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 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 01:04:43.760 --> 01:04:51.200 quarter and then finally for the residential section we have months of inventory september had 01:04:51.200 --> 01:04:57.040 a bit more inventory which correlates with the previous slide um especially with active listings 01:04:57.040 --> 01:05:05.760 and days on market next i have the commercial real estate um with our industrial availability 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 01:05:12.000 --> 01:05:19.200 properties and seven available lots with 3.7 million square feet and 572 acres available 01:05:19.200 --> 01:05:26.320 respectively and lastly for you i have our downtown real estate britney talked a little 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 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 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 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 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 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 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 01:06:11.120 --> 01:06:17.360 something correctly the multi-family permits for multi-family they're not reflected in the 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 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 01:06:28.880 --> 01:06:34.720 two different like multi-family excuse me two different residential numbers there's the one 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 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 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 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 01:07:04.000 --> 01:07:11.680 driving around general you know layperson uh characterization of real estate activity 01:07:11.680 --> 01:07:16.000 is lots of apartment buildings going on so you'd expect to see that reflectives 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 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 01:07:33.840 --> 01:07:38.480 thank you 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 01:07:50.880 --> 01:07:56.880 on the next agreement is in january we'll be bringing forward our economic development 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 01:09:32.880 --> 01:09:36.320 and we were having that conversation offline with staff and trying to figure out which 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 01:11:53.760 --> 01:11:59.040 thank you guys