WEBVTT 00:00:00.000 --> 00:00:09.600 We have seven seated, so we have forum, Carol has been joining us as well. 00:00:09.600 --> 00:00:14.600 So good morning, welcome to the meeting of the Economic Development Partnership Board. 00:00:14.600 --> 00:00:17.600 Wednesday, February 2nd, 2025. 00:00:17.600 --> 00:00:43.600 It is 11 of 3 and we have established forum, so I'll call the meeting to order. 00:00:43.600 --> 00:00:53.600 The first item is to identify and confirm approval of the January 8, 2025 minutes. 00:00:53.600 --> 00:00:55.600 Are there any questions? 00:00:55.600 --> 00:00:58.600 Seeing no questions, I'll... 00:00:58.600 --> 00:00:59.600 I'll make a motion to approve. 00:00:59.600 --> 00:01:00.600 Thank you, Jeremy. 00:01:00.600 --> 00:01:01.600 Second. 00:01:01.600 --> 00:01:02.600 Approval and second. 00:01:02.600 --> 00:01:03.600 Thank you, Rick. 00:01:03.600 --> 00:01:05.600 Any conversation around it? 00:01:05.600 --> 00:01:08.600 All in favor signify by saying aye. 00:01:08.600 --> 00:01:09.600 Aye. 00:01:09.600 --> 00:01:10.600 Any opposed? 00:01:10.600 --> 00:01:11.600 Nay. 00:01:11.600 --> 00:01:13.600 None heard, so that carries. 00:01:13.600 --> 00:01:16.600 Thank you. 00:01:16.600 --> 00:01:25.600 The next is we'll begin our work session with item A, EDP 25-00404 for discussion regarding 00:01:25.600 --> 00:01:28.600 the economic development strategic plan. 00:01:28.600 --> 00:01:33.600 Erica and Matilda will present this item. 00:01:33.600 --> 00:01:34.600 Yes, they will. 00:01:34.600 --> 00:01:35.600 I'm going to do a little intro though. 00:01:35.600 --> 00:01:36.600 All right, let's roll. 00:01:36.600 --> 00:01:41.600 So this item is an update for the 2020 economic development strategic plan. 00:01:41.600 --> 00:01:42.600 Is this on? 00:01:42.600 --> 00:01:43.600 It's on. 00:01:43.600 --> 00:01:44.600 Okay. 00:01:44.600 --> 00:01:45.600 Let's see. 00:01:45.600 --> 00:01:46.600 Okay. 00:01:46.600 --> 00:01:47.600 All right. 00:01:47.600 --> 00:01:48.600 That works. 00:01:48.600 --> 00:01:49.600 All right. 00:01:49.600 --> 00:01:56.600 This item is an update to the 2020 economic development strategic plan. 00:01:56.600 --> 00:02:02.120 We are bringing this to the board because during our last meeting, Tony Clark had concerns 00:02:02.120 --> 00:02:08.920 that this was a duplication of the competitiveness study RFQ draft proposal that we presented. 00:02:08.920 --> 00:02:13.960 And so we actually went back and searched if this team had completed a previous incentive 00:02:13.960 --> 00:02:14.960 study. 00:02:14.960 --> 00:02:16.440 And so we confirmed that we did not. 00:02:16.440 --> 00:02:20.440 And so we do believe that he was referencing the economic development strategic plan. 00:02:20.440 --> 00:02:21.440 So we're here today. 00:02:21.440 --> 00:02:26.700 Erica Sullivan, our economic development program administrator, will provide an update or an 00:02:26.700 --> 00:02:31.240 overview of how the strategic plan was completed back in 2020. 00:02:31.240 --> 00:02:34.880 And Matilda Whedon, economic development specialist will provide an update on the tasks that have 00:02:34.880 --> 00:02:35.880 been completed. 00:02:35.880 --> 00:02:50.880 I'll begin with the first portion of it and Matilda will follow and then we'll go through 00:02:50.880 --> 00:02:51.880 that. 00:02:51.880 --> 00:03:01.640 We'll begin with the economic development strategic plan. 00:03:01.640 --> 00:03:07.760 So we engaged TIP strategies in the fall of 2019 to lead our efforts in our planning process. 00:03:07.760 --> 00:03:12.240 And on the left-hand side, you'll see the guiding principles, there are five. 00:03:12.240 --> 00:03:17.720 For resiliency, for future focus, inclusive growth, entrepreneurial spirit, and cultural 00:03:17.720 --> 00:03:18.720 vitality. 00:03:18.720 --> 00:03:26.280 And so these provide us with the core items in how we define economic development. 00:03:26.280 --> 00:03:30.640 And then on the other side, you'll see the goals of the strategic plan. 00:03:30.640 --> 00:03:35.320 So it's built around three goals, accelerate recovery, foster growth, and strengthen community 00:03:35.320 --> 00:03:36.320 inclusion. 00:03:36.320 --> 00:03:41.220 And these provide a roadmap with the objectives of the strategic plan on how we are supposed 00:03:41.220 --> 00:03:45.720 to organize our programs in economic development. 00:03:45.720 --> 00:03:50.860 So this board was engaged about four times during the strategic planning process, officially, 00:03:50.860 --> 00:03:58.520 for four workshops in January, February, June, and July in 2020 during that planning process. 00:03:58.520 --> 00:04:04.200 A number of these, the board also participated on stakeholder groups with different industry 00:04:04.200 --> 00:04:10.120 roundtables, developer input, that type of thing, and interviews, particularly leadership 00:04:10.120 --> 00:04:12.520 like the mayor and so forth. 00:04:12.520 --> 00:04:16.440 And so through that planning process, one of the things that came out of that is strengths, 00:04:16.440 --> 00:04:18.840 weakness, opportunities, and threats, or SWOT analysis. 00:04:18.840 --> 00:04:24.200 And you see as you're going on the outside, it's global, national, state, and local. 00:04:24.200 --> 00:04:25.200 So we'll focus on the state. 00:04:25.200 --> 00:04:27.720 I know some of these are hard to read. 00:04:27.720 --> 00:04:33.080 But some of the highlights from the local level that are the strengths would be our 00:04:33.080 --> 00:04:41.320 downtown, our power generation, our universities, some of the weaknesses and threats would be 00:04:41.320 --> 00:04:46.440 the lack of resources, both high end, the lack of high end housing, and the lack of 00:04:46.440 --> 00:04:48.980 affordable housing at the same time. 00:04:48.980 --> 00:04:53.980 So that's kind of interesting. 00:04:53.980 --> 00:05:00.440 So then we have our opportunities and threats. 00:05:00.440 --> 00:05:02.160 We'll talk about some of the threats. 00:05:02.160 --> 00:05:06.240 Again, in the local regional, in the center there, you'll see some of the threats that 00:05:06.240 --> 00:05:13.400 we have, industrial workforce, aggressive growth with the area, cities, higher wages 00:05:13.400 --> 00:05:19.000 again, in the Metroplex, and then we'll end on opportunities on the left-hand side. 00:05:19.000 --> 00:05:24.120 So the opportunities were a debt and catalyst fund which we created, expanding entrepreneur 00:05:24.120 --> 00:05:30.480 tech innovation, which we did with our entrepreneur tech program, and then utilizing DME with 00:05:30.480 --> 00:05:35.000 our energy growth provider. 00:05:35.000 --> 00:05:41.520 So TIP strategies also examine and compared the city of Denver with other area DFW cities. 00:05:41.520 --> 00:05:47.720 And so you can see some of the programs here, so the cash grants are 380, property tax abatements, 00:05:47.720 --> 00:05:53.440 sales tax rebates are also done through 380, fee waivers and impact fee, permit fees, infrastructure 00:05:53.440 --> 00:05:59.920 grants, special development districts, TIP, TURS, PIBS, and then expedited services. 00:05:59.920 --> 00:06:06.640 Now the gray areas and the shaded out areas, Carrollton, they wanted to know that they 00:06:06.640 --> 00:06:11.200 only do sales tax rebates for data centers, there was a note for Irving because they only 00:06:11.200 --> 00:06:16.320 do sales tax for retail developments, and then Denver, at that time, you could pay for 00:06:16.320 --> 00:06:21.600 expedited permitting for large scale projects, but that's no longer available. 00:06:21.600 --> 00:06:25.940 If you see in the center, Farmer's Branch offers the most. 00:06:25.940 --> 00:06:31.280 What our plan said, according to them, is that we offer a wide variety of incentives 00:06:31.280 --> 00:06:37.520 that the city of Denton does, and they recommended that we update our strategic plan to match 00:06:37.520 --> 00:06:41.400 and align with our policies, to match and align with our strategic plan. 00:06:41.400 --> 00:06:46.440 And we did that in 2022, and we also aligned it with our city core values. 00:06:46.440 --> 00:06:54.680 So the incentive recommendations that came out of that, the capacity building, they recommended 00:06:54.680 --> 00:06:58.200 that we create a catalyst run for multiple sources. 00:06:58.200 --> 00:07:02.920 They recommended incentives include general SAR tax statements, so 380s, infrastructure, 00:07:02.920 --> 00:07:08.600 we have our utility line fund with planned water and wastewater plan lines, innovation, 00:07:08.600 --> 00:07:13.040 we have our tech entrepreneur grant, and access green incentives, we already have green incentives, 00:07:13.040 --> 00:07:17.760 and we continue to foster those and expand those, and then also the target office space 00:07:17.760 --> 00:07:18.760 initiatives. 00:07:18.760 --> 00:07:22.880 One of the things that I did was when I updated the infrastructure financing policy, I applied 00:07:22.880 --> 00:07:28.320 it to downtown, it was just industrial, and we also applied it to our office space, so 00:07:28.320 --> 00:07:31.320 that's one of those targets. 00:07:31.320 --> 00:07:32.320 Next. 00:07:32.320 --> 00:07:38.800 So investment to implement the strategic plan, staff, TIP strategies, a whole host of people 00:07:38.800 --> 00:07:45.080 came together to create different scenarios which are conservative to aggressive growth. 00:07:45.080 --> 00:07:48.600 So they looked at those scenarios and made the recommendation of seven to nine million 00:07:48.600 --> 00:07:53.680 for our catalyst fund, and then they looked at different programs that the catalyst fund 00:07:53.680 --> 00:07:58.080 could support in the plan, and I won't highlight all of them, most of them are on goal two, 00:07:58.080 --> 00:08:02.900 which is to foster growth, and you can see business recruitment, obviously we have our 00:08:02.900 --> 00:08:09.760 new headquarters grant, we have our grant for relocation, we have all the tools that 00:08:09.760 --> 00:08:15.120 we use for recruitment, business retention and expansion under goal two, also innovation 00:08:15.120 --> 00:08:20.820 on entrepreneurship, so we have our entrepreneur tech grant program that we started, then we 00:08:20.820 --> 00:08:25.000 also have infrastructure utilities, our utility line fund, which also goes with that class 00:08:25.000 --> 00:08:30.440 A office space which I mentioned down below, green centers under two, and then the affordable 00:08:30.440 --> 00:08:34.480 housing under goal three, we've been promoting community development and working with them, 00:08:34.480 --> 00:08:39.400 I have participated in their housing assessment study, and I've been utilizing that and sending 00:08:39.400 --> 00:08:44.200 that to developers so they understand the market, we also, they have a tool kit for 00:08:44.200 --> 00:08:48.000 affordable housing which we've shared with numerous developers, and now they have affordable 00:08:48.000 --> 00:08:55.280 housing grant program that we're also working with them on, now we'll pass it on to Matilda 00:08:55.280 --> 00:09:00.200 that's going through the progress, and then we'll both be available for questions. 00:09:00.200 --> 00:09:05.120 - Thank you Erica, okay, I'm going to run through our progress on our strategic plan 00:09:05.120 --> 00:09:10.680 which we report on an interactive dashboard, at the end I'll be able to show you how to 00:09:10.680 --> 00:09:15.800 access that, in the interest of time, I'm just going to cover goal two, foster growth, 00:09:15.800 --> 00:09:22.580 which is separated into four separate goals, but overall we are 72% complete with our economic 00:09:22.580 --> 00:09:28.400 development strategic plan, skipping this one, it's COVID related, and now on to goal 00:09:28.400 --> 00:09:34.600 two, foster growth, we're going to start off with Connected Denton, so oops, sorry, 00:09:34.600 --> 00:09:40.060 this one is related to business retention and expansion, recruitment, West Park infrastructure 00:09:40.060 --> 00:09:47.480 and partnerships, some of the things that we're working on to move to completion is 00:09:47.480 --> 00:09:55.600 marketing and workforce pathways, next we have Creative Denton, this one is really related 00:09:55.600 --> 00:10:01.920 to tech and startups, a lot of the pending and in progress items are related to venture 00:10:01.920 --> 00:10:06.320 capital and startup incubation, so that is something we are working on getting connected 00:10:06.320 --> 00:10:11.800 with those groups and how can we better support and create an ecosystem for startups and creatives 00:10:11.800 --> 00:10:18.820 in our community, now we have Sustainable Denton, this is a pretty small section compared 00:10:18.820 --> 00:10:25.040 to the other three, this has a heavy focus on green development, incentivizing and encouraging 00:10:25.040 --> 00:10:31.400 things like weed certification and environmentally friendly building standards, one thing that 00:10:31.400 --> 00:10:39.080 we do pretty well is marketing our 100% renewable energy that the city offers, especially in 00:10:39.080 --> 00:10:45.280 recruitment and things like that of businesses, they're always looking for new green initiatives, 00:10:45.280 --> 00:10:51.040 so that's a really good service that the city offers for businesses, and then finally 00:10:51.040 --> 00:10:57.240 a point of this section that Clay is working on as our business recruitment specialist 00:10:57.240 --> 00:11:02.520 is targeting environmentally friendly businesses to locate here and then one good example that 00:11:02.520 --> 00:11:07.320 you can think of in our community right now is Tetra Pak, they make sustainable carton 00:11:07.320 --> 00:11:16.840 packaging, next and finally under Goal 2 we have Competitive Denton which has a heavy focus 00:11:16.840 --> 00:11:23.240 on Coal and Hunter Ranch as well as infrastructure, there's also a lot of office space in here 00:11:23.240 --> 00:11:27.600 which is kind of interesting because we have office vacancy but not a lot of Class A space 00:11:27.600 --> 00:11:34.320 so there's a lot about balancing that and helping to develop office space, Class A especially 00:11:34.320 --> 00:11:40.680 all across town including downtown, and the work that Hillwood is doing now will help 00:11:40.680 --> 00:11:46.480 move this needle away further now that they've started to build, I'll skip these two parts 00:11:46.480 --> 00:11:51.600 just for time and then finally this is where you can find it, I have a QR code but it doesn't 00:11:51.600 --> 00:11:57.160 show up very well on your phone on the mobile view so if you when you go back to your office 00:11:57.160 --> 00:12:02.520 today are interested in seeing our progress you can go to the economic development page 00:12:02.520 --> 00:12:08.680 on the city website which you can find it on your departments, I didn't include that 00:12:08.680 --> 00:12:12.440 very well but once you make it to economic development on the right hand side we have 00:12:12.440 --> 00:12:20.720 the strategic plan dashboard as well as the PDF plan, the dashboard has I think 100 something 00:12:20.720 --> 00:12:27.320 items that I individually report on every quarter and update so there'll be more information 00:12:27.320 --> 00:12:31.240 of what we're doing right there, thank you. 00:12:31.240 --> 00:12:32.880 Any questions for me or Erica? 00:12:32.880 --> 00:12:43.680 I guess this may lead into the next item, I know I brought this up before but when this 00:12:43.680 --> 00:12:51.040 plan was hatched, the idea that competitive debt meant class A office space made sense 00:12:51.040 --> 00:12:55.800 to everybody and then for a while after the pandemic or during it, shortly after the pandemic, 00:12:55.800 --> 00:13:02.240 I was hearing that office space, class A office space was not such a thing you know that it 00:13:02.240 --> 00:13:06.600 was not in demand, I get the impression that it's kind of coming back we're kind of looking 00:13:06.600 --> 00:13:12.000 to Jeremy you know because I think you might have your finger on this, you know is that 00:13:12.000 --> 00:13:20.560 still you know a competitive requirement or are they looking more for like I'm really 00:13:20.560 --> 00:13:24.920 guessing here innovative live work play kind of environments or? 00:13:24.920 --> 00:13:29.080 I don't know that I'm going to be able to help on that, I don't know that we have much 00:13:29.080 --> 00:13:30.080 class A. 00:13:30.080 --> 00:13:34.580 That's the point right, the point was that we don't have it right so that's what we needed 00:13:34.580 --> 00:13:43.300 to you know to be competitive but you know it's something to try it out. 00:13:43.300 --> 00:13:48.300 On our side, the cool downtown live work kind of play office you know we own the railyard 00:13:48.300 --> 00:13:53.320 building across from the city hall down there and we've had a hard time leasing to office 00:13:53.320 --> 00:13:59.760 space like almost negative and to the point where we're thinking about a convertment. 00:13:59.760 --> 00:14:00.760 To what? 00:14:00.760 --> 00:14:07.920 I mean just because it's vacant right and of course the homeless has been a big part 00:14:07.920 --> 00:14:15.480 of that problem in downtown but class A office space you know the hard part of it is it costs 00:14:15.480 --> 00:14:20.440 so much to build and what rents have to be in that you know thirty dollar rents triple 00:14:20.440 --> 00:14:27.200 that that works off of 121 in Frisco right you know but here in Denton it's kind of a 00:14:27.200 --> 00:14:31.680 catch-22 we go build that can we really get those rents and have the confidence that we 00:14:31.680 --> 00:14:37.040 can recruit a company that needs that space yeah so I go to Jeremy said Jeremy loan me 00:14:37.040 --> 00:14:41.600 this I gotta get thirty dollar rents he says no way I'm loaning you money thirty dollar 00:14:41.600 --> 00:14:47.000 rents at that so that's kind of you know where the balance is we can't go build it because 00:14:47.000 --> 00:14:53.320 it won't underwrite today's rents but do I think we need that to get those kind of tenants 00:14:53.320 --> 00:14:59.920 here but you know yes so it's a chicken-or-the-egg thing right I mean you speak that a little 00:14:59.920 --> 00:15:05.720 bit of like first-hand knowledge is like you know our location where we're at a university 00:15:05.720 --> 00:15:11.980 certainly not class a but there was a big remodel done in 2020 on that what we thought 00:15:11.980 --> 00:15:15.880 rents were going to be at that time and then like once you perform and then what reality 00:15:15.880 --> 00:15:21.160 is way different so then you end up having to drop rents just to get the occupancy in 00:15:21.160 --> 00:15:27.280 there but I would agree with what Lisa and thirty dollar that it is the expense is going 00:15:27.280 --> 00:15:31.600 to be there which is going to command a higher rent you're going to get that in debt so maybe 00:15:31.600 --> 00:15:39.160 this maybe that's not the strategy that right to shoot for something that isn't really buildable 00:15:39.160 --> 00:15:42.200 yeah they are going to be making buildings and that's what you're going to wind up with 00:15:42.200 --> 00:15:47.240 well I think strategy could be to accomplish that is if we said okay we want to recruit 00:15:47.240 --> 00:15:52.320 somebody to move their headquarters here Schwab or whoever those are how do we recruit them 00:15:52.320 --> 00:15:56.480 to come make the capital investment because they're going to be their own tenant right 00:15:56.480 --> 00:16:02.280 so maybe that's a strategic way we can get that done and that's that could take saying 00:16:02.280 --> 00:16:07.740 the cities to get that kind of campus will participate in the land acquisition will participate 00:16:07.740 --> 00:16:12.520 during utilities will participate in those kind of things where they're making the capital 00:16:12.520 --> 00:16:17.820 investment because they're the ten that could be a strategy to get to that goal and utilizing 00:16:17.820 --> 00:16:23.280 incentives to pull back is a way that you can do that unfortunately this plan was developed 00:16:23.280 --> 00:16:28.280 I started right before COVID and hit during COVID we did the ending stakeholder groups 00:16:28.280 --> 00:16:34.240 virtually we did business retention virtually in goal one that she you know went over because 00:16:34.240 --> 00:16:39.400 that's mainly accomplished so yes to this point saying sentence would help fill that 00:16:39.400 --> 00:16:43.520 gap and that's kind of what we were doing when we did really are we were trying to meet 00:16:43.520 --> 00:16:48.640 a lot of these this was before this was done with the with the incubator center in there 00:16:48.640 --> 00:16:52.520 that was really cool we did that through a 380 agreement to pay the rent for that it 00:16:52.520 --> 00:16:56.120 was a good mission it was super cool is what we were trying to do was give it a little 00:16:56.120 --> 00:17:02.360 work downtown kind of feel and incubator things worked and the cities to continue to support 00:17:02.360 --> 00:17:08.420 that which is really good but kind of what our vision was to get tech companies in there 00:17:08.420 --> 00:17:14.560 to come out of that to take bigger spaces yeah that was our vision for that and it kind 00:17:14.560 --> 00:17:19.560 of worked you know but the incubator thing is working you know but getting them to grow 00:17:19.560 --> 00:17:25.160 in the larger spaces was our real long-term goal right how do we get these companies to 00:17:25.160 --> 00:17:29.160 get enough employees they got to get out of here so we were able to do that with human 00:17:29.160 --> 00:17:33.080 defenders and they're actually looking at expanding again so it's working so that one 00:17:33.080 --> 00:17:38.840 is an example of one that came out of that and i think our confederate cities too frisco 00:17:38.840 --> 00:17:42.200 and mckinney they're doing a good job of recruiting some of those tech companies and 00:17:42.200 --> 00:17:47.560 to take office space but i think in the case of lgbv too like i mean they wanted to downsize 00:17:47.560 --> 00:17:53.240 the building and they were looking for 80 100 000 sources of office space and so some 00:17:53.240 --> 00:17:59.160 of our surrounding cities they do have that space and just a minute that so there's opportunity 00:17:59.160 --> 00:18:03.000 for us to implement an order from each country for sure but on the flip side of that you know we 00:18:03.000 --> 00:18:07.720 deal with a lot of banks and they use us to go underwrite their troubled assets a lot of banks 00:18:07.720 --> 00:18:12.200 call us and we'll as a consultant we'll go look at their troubled assets how do they get redeveloped 00:18:12.200 --> 00:18:19.480 we get a lot of calls for big office i just got one last week for 120 000 foot office lead what 00:18:19.480 --> 00:18:24.360 do we do with this thing right and so i'm putting together a package for them right now to figure 00:18:24.360 --> 00:18:31.720 out what they do with this troubled asset and so it's scary you know as us as the developers we 00:18:31.720 --> 00:18:37.320 would not go put that on the ground anywhere right now in the metroplex not just that i wouldn't go 00:18:37.320 --> 00:18:42.120 put that on the ground anywhere it's not a personal guarantee how long was it you had the all northside 00:18:42.120 --> 00:18:56.440 town bank before you and t-butt as long as i can remember just uh the example that i would give 00:18:56.440 --> 00:19:01.560 about the sustainable debt and strategy working it's a weird one because you don't get a lot of 00:19:01.560 --> 00:19:08.040 credit for it locally from the people interested in environmental issues but core scientific 00:19:09.640 --> 00:19:17.400 is massively remunerative to dentin and it's and it's all about tech companies 00:19:17.400 --> 00:19:27.880 that want their data centers to be renewable and it's a huge win for dentin and you know even if 00:19:27.880 --> 00:19:33.080 you're just evaluating it on the pure green benefits having that here rather than somewhere 00:19:33.080 --> 00:19:40.120 else it wouldn't be on renewables you know massive win what scientific contributes to our cattle spot 00:19:40.120 --> 00:19:48.680 exactly virtuous virtuous circle sustainability in the sustainability section are 00:19:48.680 --> 00:19:58.360 data center related um yes it kind of acknowledges that we should recruit and attract high energy 00:19:58.360 --> 00:20:05.560 users but data centers are kind of on the cusp of energy innovation and green technology to support 00:20:05.560 --> 00:20:14.360 all of that so anything else what's the uh an example of something in the catalyst fund 00:20:14.360 --> 00:20:21.400 has been used for uh team of defenders it was the investment fund at that time so it was the 00:20:21.400 --> 00:20:26.840 investment fund before the catalyst fund team of defenders from the future um and saffron were all 00:20:26.840 --> 00:20:32.360 funded through the investment fund so that was funded it created in 2016 and funded through um 00:20:32.360 --> 00:20:38.200 we tried to find in close nexus mixed beverage so 150,000 per year so that funded those the catalyst 00:20:38.200 --> 00:20:44.120 fund was renamed and given additional funding sources in 2022 it was approved of the budget 00:20:44.120 --> 00:20:50.600 and in august or september actually um and so with that we funded engine tech so engine tech is our 00:20:50.600 --> 00:20:55.960 first one that we funded with it being the catalyst fund so it's 20.2 we funded engine tech and that's 00:20:55.960 --> 00:21:00.920 it no the other two were funded with the investment fund and their five-year term so they continued to 00:21:00.920 --> 00:21:06.200 be funded through the catalyst fund so all of the the job based grants and expansion grants that i 00:21:06.200 --> 00:21:10.440 mentioned they're all funded through either the investment fund and then catalyst fund because 00:21:10.440 --> 00:21:15.080 their term continued into the catalyst fund and what's the what's the balance of that fund or what's 00:21:15.080 --> 00:21:21.560 is it if we go to the slides there's some hidden slides so there's 4.3 in the fund the fund is 00:21:21.560 --> 00:21:31.000 authorized for 7.3 which hidden slides behind behind the question um one of the clickers works 00:21:31.000 --> 00:21:40.200 yeah it's 4.3 million we're authorized for 7.3 million but it'll go into the specifics of it 00:21:41.000 --> 00:21:51.880 so if you go up to 20 so this if you're authorized for 7.3 we didn't get 7.3 our balance you see at 00:21:51.880 --> 00:21:58.040 the bottom there is 4.3 of course scientific did go into bankruptcy they did come out of bankruptcy 00:21:58.040 --> 00:22:02.920 in february of last year we also split that investment revenue with two other programs 00:22:02.920 --> 00:22:08.440 and one time with the general fund so this is actually where we're at with the catalyst fund 00:22:11.960 --> 00:22:16.360 now they are regrouping they came out of bankruptcy they're going into ai if you've 00:22:16.360 --> 00:22:20.360 been reading that so i think they'll perform better but we haven't had a transfer of that yet 00:22:20.360 --> 00:22:26.120 but this is the latest that we have from accounting and budget and we just presented this to um in an 00:22:26.120 --> 00:22:30.120 informal staff report the city council i've seen a more detailed report on this 00:22:30.120 --> 00:22:35.640 i'll follow up with a question on that later 00:22:39.640 --> 00:22:45.160 any other questions conversation thank you both appreciated there's no vote needed on 00:22:45.160 --> 00:22:54.760 that that was information only the next item is item v edp 25-005 and britney are you doing this 00:22:54.760 --> 00:23:04.520 thank you all right so this is a follow-up to our study rfq discussion from last meeting 00:23:04.520 --> 00:23:09.240 so you've heard update for the street plan how it would be different from the incentive 00:23:09.240 --> 00:23:14.360 study but just as a reminder i did a collector feedback from last meeting and i added it on the 00:23:14.360 --> 00:23:20.120 rfb it's on your desk and it's highlighted in red the text accelerator of all the new items and it's 00:23:20.120 --> 00:23:26.920 also in red in the presentation and just so you know the difference between the strategic plan 00:23:26.920 --> 00:23:33.080 and this item is that this will be more data intensive it'll be an update to any of the 00:23:33.080 --> 00:23:40.680 goals that were listed in strategic plan as well um and more like a deep dive um all right 00:23:40.680 --> 00:23:44.600 the objective of the study is to evaluate dentin's competitiveness based on type 00:23:44.600 --> 00:23:51.160 type top site selection prep considerations and provide recommendations to staff and edp board 00:23:51.160 --> 00:23:53.560 members on areas of improvements and opportunities 00:23:53.560 --> 00:24:01.880 so there are three deliverals that we are asking for in the rfp and one of them is city comparisons 00:24:01.880 --> 00:24:08.280 and so this will be based off this um criteria which is workforce labor availability which 00:24:08.280 --> 00:24:14.040 includes average wage comparisons cost of living for employees number two availability of development 00:24:14.040 --> 00:24:19.480 ready sites including land availability with ready infrastructure existing building availability and 00:24:19.480 --> 00:24:26.200 airport sites um number three cost of doing business which includes sales tax rates development 00:24:26.200 --> 00:24:31.720 permit and impact fees development timelines timelines and this is one that we added from pre-application 00:24:31.720 --> 00:24:38.520 meetings to completion and other related cost um and airport fee comparisons that's what rick had 00:24:38.520 --> 00:24:44.520 mentioned number four is incentive evaluation comparison of dentin incentives and funding 00:24:44.520 --> 00:24:49.800 mechanisms to other cities and economic development policies of top performing cities fiscal and 00:24:49.800 --> 00:24:54.360 economic impacts of the top incentivized projects awarded to comparable cities including but not 00:24:54.360 --> 00:24:59.800 limited to revenue recovery timeline new revenue gains and job gains tax base diversification and 00:24:59.800 --> 00:25:04.760 other relevant factors i think this is the most important topic that we would want the consultant 00:25:04.760 --> 00:25:10.680 to complete for us number five utilities infrastructure utility rate comparison and 00:25:10.680 --> 00:25:15.640 access to infrastructure that includes our new items that we added water and sewer infrastructure 00:25:15.640 --> 00:25:20.520 access and limitations within industrial areas and quality of life including executive and 00:25:20.520 --> 00:25:25.960 affordable housing and price comparisons school district ratings and access and number seven 00:25:25.960 --> 00:25:34.520 transportation supply chain risk and mitigation so the first of the rural of course was the city 00:25:34.520 --> 00:25:39.960 comparisons um collect and compare data based on the criteria section from competitor cities in the 00:25:39.960 --> 00:25:44.760 dallas potworth region including didn't but we're at dallas and kenny 40 and the new ones that we 00:25:44.760 --> 00:25:49.080 added based on our discussion northlake alliance briscoe south dallas communities and cities near 00:25:49.080 --> 00:25:53.560 the dfw airport i do think that whichever consultant responds to the rfp that they 00:25:53.560 --> 00:25:57.080 will have recommendations on which who they feel are their biggest competitor 00:25:57.080 --> 00:26:04.120 deliver number two is evaluation of existing incentives and return on investment that includes 00:26:04.120 --> 00:26:08.840 analysis of assisting incentive policies to ensure competitiveness and evaluation of existing 00:26:08.840 --> 00:26:14.280 incentive agreements and short and long term roi for the city's general fund evaluation of 00:26:14.280 --> 00:26:18.920 commercial first residential land with the city limits and tax revenue generated per acre 00:26:18.920 --> 00:26:24.600 other metric compared to other cities denton has a high amount of land that's owned by universities 00:26:24.600 --> 00:26:30.840 or local government entities and so we're not able to collect revenue from those um those sites um so 00:26:30.840 --> 00:26:34.440 that makes us a little bit different from other cities and that's something we're paying to do 00:26:34.440 --> 00:26:39.240 right now is how as economic developers we can generate more revenue from the city 00:26:39.240 --> 00:26:45.480 one that we add is evaluation of the city's current budget and impact of future economic 00:26:45.480 --> 00:26:49.800 development projects or other considerations affecting the tax base and consideration of 00:26:49.800 --> 00:26:53.240 other development limitations including existing zoning or other factors 00:26:53.240 --> 00:26:59.880 deliverable number three are of course recommendations we want the consultant to 00:26:59.880 --> 00:27:05.000 provide recommendations for improving all aspects of economic development practices policies 00:27:05.000 --> 00:27:08.920 developer environment and incentive structure in the city of denton including the implementation 00:27:08.920 --> 00:27:14.120 of new facilities and infrastructure improvements if relevant we also want them to identify top 00:27:14.120 --> 00:27:18.920 trends impacting the facility location decision making process in texas the us and nationally 00:27:18.920 --> 00:27:27.480 so if we're able to get this approved by the board today based on your feedback we will 00:27:27.480 --> 00:27:34.600 list this online we'll start getting consultants to probably respond to the rfp we'll submit it to 00:27:34.600 --> 00:27:41.240 consultants to respond to the rfp the proposal doesn't will be on march 28 2025 and the budget 00:27:41.240 --> 00:27:46.680 that we just said is 50 000 which is significantly less than what the economic development plan costs 00:27:46.680 --> 00:27:56.040 back in 2020 any questions i don't have a question i have a comment i don't know whether it would go 00:27:56.040 --> 00:28:03.240 under criteria three or scope of work removal two i think somewhere a statement of the bond ratings 00:28:03.240 --> 00:28:08.920 for the city county and school district okay have a direct impact on what it costs to do business 00:28:09.800 --> 00:28:15.400 for all those entities and i think actually the three of them i think are a pretty good trade but 00:28:15.400 --> 00:28:19.080 okay i will add it 00:28:19.080 --> 00:28:33.160 does the cost is that published out there when you do the rfq yes why well i think for us that is our 00:28:33.160 --> 00:28:38.600 budget anything over let's say the consultant reviews it and based on who decides to respond 00:28:38.600 --> 00:28:44.600 they all have different specialties right then they may want to add additional a la carte items 00:28:44.600 --> 00:28:48.360 that we can choose from and so once they submit the proposals we can bring it back to the board 00:28:48.360 --> 00:28:52.520 and we can choose which items we want to move forward with i do think the most important part 00:28:52.520 --> 00:28:58.280 of this study is to evaluate our current incentive policies our approval process how we compete with 00:28:58.280 --> 00:29:03.720 other cities so we can move forward with improving those are we have some guidance and everyone's on 00:29:03.720 --> 00:29:08.840 the same board and we can present it to city council and that's the most important factor and 00:29:08.840 --> 00:29:13.880 but the other ones i think are probably more optional and that's up to the board to decide 00:29:13.880 --> 00:29:21.080 man my thought is if you i'm sorry so we'd never do that yeah i don't know that any private company 00:29:21.080 --> 00:29:26.280 would do that because if you tell me your budget's 50 000 i'm either not going to submit an rfq or 00:29:26.280 --> 00:29:32.520 guess what it's going to be 50 000 whereas it could have been 25 000 or whatever so i just 00:29:32.520 --> 00:29:38.040 don't understand why we would do that it's kind of the going great i believe but i can take it out 00:29:38.040 --> 00:29:51.000 um typically i mean so different than you know if you post a job and it says the job is 00:29:51.000 --> 00:29:57.560 a range of this if i'm applying for that job i'm gonna ask you to be up a range i mean every one 00:29:57.560 --> 00:30:02.040 of you guys that are probably in here whenever your job is posted has had the salary range on there 00:30:03.000 --> 00:30:09.320 so then did you do you think i leave yourself or not and that's going to be what you asked for then 00:30:09.320 --> 00:30:14.600 the negotiation the leverage just flips to the employee right right i understand what you're 00:30:14.600 --> 00:30:21.880 saying um typically and i think previous didn't uh proposals they do list the budget but we won't 00:30:21.880 --> 00:30:26.680 have we don't have to list it we'll see i'm just nervous it may be over 50 000 and that's fine then 00:30:26.680 --> 00:30:31.880 at that point we can then we can have continuing discussions with them to bring it down but let's 00:30:31.880 --> 00:30:38.520 not negotiate against ourself on the front end okay we'll take that out any other comments ideas 00:30:38.520 --> 00:30:49.480 okay again no vote needed on this just uh acknowledgement thank you thank you for your 00:30:49.480 --> 00:31:01.880 help this is great all right the next item is uh edp 25-003 friendly and this is you again is that 00:31:01.880 --> 00:31:10.200 right again so for the month of january this is our update uh we are coordinating business workshops 00:31:10.200 --> 00:31:16.440 right now for residents this is a um an idea that we have based on a community survey that 00:31:16.440 --> 00:31:23.080 was released to residents last year um residents wanted more small business resources and workshops 00:31:23.080 --> 00:31:28.680 for us to host and so that is why we're putting these together matilda ween is leading this effort 00:31:28.680 --> 00:31:35.000 and she's put together a lunch with an expert panel discussion on february 28th we will send 00:31:35.000 --> 00:31:41.240 you those marketing materials once they're completed but there will be a cpa a lender and a attorney to 00:31:41.240 --> 00:31:46.200 assist entrepreneurs with getting into business any questions that they may have um because you 00:31:46.200 --> 00:31:50.200 as you know if you're starting if you want to know the difference between a silver pride or lsc 00:31:50.200 --> 00:31:55.800 this is a good opportunity for them to get um just general advice from experts 00:31:55.800 --> 00:32:03.800 we held a public improvement district information session last uh month as well for our downtown 00:32:03.800 --> 00:32:11.080 property owners this is a recommendation in the downtown master plan um to create a kid for the 00:32:11.080 --> 00:32:16.760 downtown area to support redevelopment um and so we have based on the boundaries listed in the 00:32:16.760 --> 00:32:24.200 downtown master plan we sent an email and postcards to those property owners um we had about maybe 13 00:32:24.200 --> 00:32:30.040 attend the in-person session we had a few virtual attendees as well um those attendees we just 00:32:30.040 --> 00:32:36.040 provided a general overview of how a pit operates and what potential funding options they would have 00:32:36.040 --> 00:32:41.960 if they were to support it um we are we sent out surveys to the property owners and so we're 00:32:41.960 --> 00:32:46.600 waiting for responses right now and so we're just kind of exploring the opportunity to create one 00:32:46.600 --> 00:32:56.520 for the area um events and training staff attended a variety of events or the in january um play 00:32:56.520 --> 00:33:01.560 attended the dallas regional chamber annual meeting in arlington actually that was matilda and myself 00:33:01.560 --> 00:33:09.560 as well and played um we played in the icsc red river retail trade show in dallas uh christen and 00:33:09.560 --> 00:33:16.280 matilda attended the stoke didn't accelerate her cohort event i attended the icma economic mobility 00:33:16.280 --> 00:33:22.200 cohort event christen attended the texas main street design retreat and erica attended the 00:33:22.200 --> 00:33:27.400 economic priorities webinar from size up matilda attended the ntx uas safety and integration 00:33:27.400 --> 00:33:33.720 transports quarterly meeting um so the north texas cobb uh non-profit organization they 00:33:33.720 --> 00:33:39.880 host quarterly uas meetings and so we try to chain those as data so we can know how the fa 00:33:39.880 --> 00:33:47.400 is moving forward with um uas uh technology marketing we're wrapping up a comprehensive 00:33:47.400 --> 00:33:51.640 marketing overarching for our staff um the community protocol is done is on your desk 00:33:51.640 --> 00:33:56.600 um we have not ordered a bulk copy yet so if you have any edits to the profile let us know 00:33:57.800 --> 00:34:01.880 we also have other templates that we got done presentation or recruitment presentation so 00:34:01.880 --> 00:34:07.080 community templates and our entire response we did host a prospect back in december and the site 00:34:07.080 --> 00:34:13.640 selector uh commended our new marketing materials so that was great it was time well spent 00:34:13.640 --> 00:34:20.200 and best place for working parents i'm going to defer to matilda to provide an update 00:34:23.400 --> 00:34:29.240 if you look on your desk there should be a flyer for this program this is the result 00:34:29.240 --> 00:34:35.000 of last year's leadership and class that my fellow and other city staff i remember part of 00:34:35.000 --> 00:34:43.480 are the leadership and program always has a big class project where you kind of can try 00:34:43.480 --> 00:34:50.920 to solve a problem uh and child care is a really large issue across the board in the u.s and so 00:34:51.960 --> 00:34:57.880 that our presentation of free proposals and best place for working parents was one of them and it's 00:34:57.880 --> 00:35:05.400 essentially a free uh service for the businesses in our community in the city of denton um where 00:35:05.400 --> 00:35:14.600 they can take a very fast and again free uh survey about their business and hopefully be designated 00:35:14.600 --> 00:35:19.960 as the best place for working parents so it's essentially kind of a badge you can put on your 00:35:19.960 --> 00:35:26.920 marketing materials on your website promote it when you're hiring people um and again it's free 00:35:26.920 --> 00:35:35.000 to the businesses uh and we the city kind of we work with best place for working parents to create 00:35:35.000 --> 00:35:41.080 the city of the region so we are sort of fronting the cost for the businesses in town to be able to 00:35:41.080 --> 00:35:47.720 participate in this um so yeah i will be managing that if anyone has questions 00:35:50.600 --> 00:35:53.720 um 00:35:53.720 --> 00:36:04.200 okay so here's our recruitment stats we are finally almost over the hump of finalizing 00:36:04.200 --> 00:36:12.200 our edu um crm database um so we have currently oh this was not updated apparently the number was 00:36:12.200 --> 00:36:42.040 not it was down okay so for the month of january we received 10 leads 00:36:42.360 --> 00:36:47.640 release the office and so how we received the leads is by phone by our email we have a general 00:36:47.640 --> 00:36:54.760 inbox um jamey gets leads to his inbox of the edpb um and then we also just get general phone 00:36:54.760 --> 00:37:03.080 calls directly to us or even linkedin um connections we have um christen had six downtown bre visits 00:37:03.080 --> 00:37:08.360 for the month of january four in retail service one in real estate one um an educational institution 00:37:08.920 --> 00:37:14.840 and then currently we have 25 actor projects um i will say that last year we had probably an average 00:37:14.840 --> 00:37:22.280 of about 10 to 15 actor projects and this includes city-wide uh products and downtown um so we are 00:37:22.280 --> 00:37:27.000 very busy at the moment but it's good news we are actually working on getting all the products from 00:37:27.000 --> 00:37:32.680 point a to point z um they're at various stages and so we do have another report that we'll put 00:37:32.680 --> 00:37:38.440 together eventually we'll send it to the board um the company names will be confidential but 00:37:38.440 --> 00:37:42.520 um i just want to let you know we'll have that report next month just it's taking time to get 00:37:42.520 --> 00:37:47.960 used to adding the information in the database but um there's a lot of great stuff going on right now 00:37:47.960 --> 00:37:53.880 excuse me i'm sure you said it uh but i didn't get bre doesn't stand for business reply envelope 00:37:53.880 --> 00:37:59.560 no business retention and expansion i'm sorry so what is it business retention and expansion 00:37:59.560 --> 00:38:07.080 all right well here my RFI is priscilla davis has been working hard and responding to these 00:38:07.080 --> 00:38:15.400 um last in january she had six that she submitted um all from the governor's office and so um the 00:38:15.400 --> 00:38:24.520 total of all those RFIs um just for jobs would be over 1500 jobs and a little over 530 million 00:38:24.520 --> 00:38:29.640 dollars and of course not all of those will respond back to us but we have had at least a few reach 00:38:29.640 --> 00:38:37.080 out recently um we just had one that she submitted actually um reached out to us she submitted it i 00:38:37.080 --> 00:38:42.760 think was it in january project opus and they um we hosted a site tour for them yesterday and so 00:38:42.760 --> 00:38:47.800 fingers crossed that we'll be able to land it but we've had a few companies interested in landing 00:38:47.800 --> 00:38:52.200 and didn't so we're just really trying to make sure that we're putting our best foot forward and 00:38:52.200 --> 00:38:57.720 getting them over the hump project server we hosted them in december uh clay was going to present 00:38:57.720 --> 00:39:01.640 that during this meeting but we had to take it off because the building that they wanted to purchase 00:39:01.640 --> 00:39:06.920 actually got leased out so now we're actively trying to find a new building for them um so 00:39:06.920 --> 00:39:10.840 just want to let you know we are we do have projects in the works we're working hard 00:39:10.840 --> 00:39:13.400 and and we're hoping to bring those to you in the next few months 00:39:13.400 --> 00:39:20.040 a fine arts theater it's moving forward you may have seen in the paper yes 00:39:21.160 --> 00:39:29.080 um so they are planning to open in april of 2026 which is exciting uh so we're very happy for them 00:39:29.080 --> 00:39:33.480 if you want to sign up for their email updates you can go to their new website texas fine arts 00:39:33.480 --> 00:39:40.440 theater dot com um and sign up for their email blast and that is it well i have two more so one 00:39:40.440 --> 00:39:44.440 thing that i would do put in the fire port presentation is that denton will be hosting a 00:39:44.440 --> 00:39:50.200 governor small business summit in october yay that's exciting um there's only a select few 00:39:50.200 --> 00:39:55.800 cities across the state of texas that are chosen for the summit every year and so twu the city and 00:39:55.800 --> 00:40:01.400 of course the edu will be in chamber will be involved um it's more it's woman focused um so 00:40:01.400 --> 00:40:08.360 we're excited about that but um it should be fun uh let's see and i wanted to congratulate 00:40:08.360 --> 00:40:26.360 brian danhoffer his new promotion of plant manager okay that is all i have thank you 00:40:26.360 --> 00:40:35.240 i have two questions if i may um matilda for your uh business lunches how are you selecting the 00:40:35.240 --> 00:40:39.800 panelists we received that question last time with the homebuyer seminar so i was just wondering if 00:40:39.800 --> 00:40:48.440 you could provide that so we can advocate for our members according so we so we reached out to jill 00:40:48.440 --> 00:40:55.640 jester on city council to provide recommendations on um attorneys and then initially wanted her to 00:40:55.640 --> 00:41:01.400 participate because it is a city council led event um i mean not city council a city led event so we 00:41:01.400 --> 00:41:05.640 did ask for her advice but matilda looked on your website eight people website um to check our 00:41:05.640 --> 00:41:12.280 recommendations yep and then i have one more how does this branding play into the soon to be city 00:41:12.280 --> 00:41:16.440 rebrand yeah i know we're participating in that so i just don't want you guys to go to all this work 00:41:16.440 --> 00:41:23.000 and then have to so we actually made this um in preparation for the overhaul the city's overall 00:41:23.000 --> 00:41:28.680 brand we know that they will have a new logo um it's my understanding they won't have a full 00:41:28.680 --> 00:41:33.560 branding campaign it'll be more of like a logo based right so we don't know if that's meant for 00:41:33.560 --> 00:41:39.240 us but we how we structure the colors is that the colors can change to match the logo so those will 00:41:39.240 --> 00:41:45.560 be the only things that change in our marketing materials um because the the city's marketing 00:41:45.560 --> 00:41:50.120 departments the consultant they got to do the branding overhaul will not do our own marketing 00:41:50.120 --> 00:41:56.200 materials it's really mostly a logo so that we made it really um we told the graphic designer 00:41:56.200 --> 00:42:03.240 implement um oh gosh i'm out of breath sorry talking too much um coordinate with epb colors 00:42:03.240 --> 00:42:07.960 which is a lime green and the city's colors are blue and since now we're leading recruitment 00:42:07.960 --> 00:42:13.160 efforts right we told them to add a little bit both of those elements um and so eventually the 00:42:13.160 --> 00:42:18.760 colors may change but we need to market materials now because we're hosting prospects and so i have 00:42:18.760 --> 00:42:22.920 led marketing efforts in other cities i know what we're competing against and if we don't have to 00:42:22.920 --> 00:42:28.040 put in marketing materials now for positive visits we won't be taking seriously so we needed them 00:42:28.040 --> 00:42:33.320 now and i know that the marketing um team they're working hard on it's going to be great but i don't 00:42:33.320 --> 00:42:38.920 know when it's going to be completed so christina davis would say this is structured so i just want 00:42:38.920 --> 00:42:48.440 to go she always gives me a hard time about that we love it thank you all right any other conversation 00:42:49.320 --> 00:42:57.480 um i do have uh any other business to discuss or suggestions to discuss next meeting yeah so i've 00:42:57.480 --> 00:43:04.920 got just some feedback and i've forwarded information to britney steve um so i guess by being on this 00:43:04.920 --> 00:43:12.440 committee i guess i'm on the hotline where people reach out and provide feedback so i just want to 00:43:12.440 --> 00:43:27.000 kind of let the committee know so uh i'm also uh the chamber uh represented here and i think 00:43:27.000 --> 00:43:32.520 with lee as well but i went to the advisory economic olympic and the airport get a presentation 00:43:32.520 --> 00:43:39.800 so some of the questions came from there for me to bring back but um one of the recurring themes 00:43:39.800 --> 00:43:47.640 that i'm hearing in meetings like this is that you know west park we want to promote and grow 00:43:47.640 --> 00:43:53.320 that area west of town and then there's also development kind of northwest 00:43:53.320 --> 00:44:02.040 town northwest of 35 or west of 35 so one of the issues that keeps coming up is water and wastewater 00:44:02.600 --> 00:44:11.080 deficiency or a lack of excess capacity in those areas there i haven't done research on this 00:44:11.080 --> 00:44:18.200 this is what i was told i've passed that on britney is you know vetting that to see the 00:44:18.200 --> 00:44:25.560 legitimacy of it or not but uh there was a new line that was put up in the northwest area 00:44:25.560 --> 00:44:32.200 i don't have details on it but as soon as it went in it went through one property they were 00:44:32.200 --> 00:44:38.280 told they were i'm told that that the owner that gave the easement was going to have ability to 00:44:38.280 --> 00:44:47.640 use that once it went through uh the tone changed where it is a capacity and there's just not much 00:44:47.640 --> 00:44:53.960 water or wastewater not sure which one it is capacity in that northwest area uh and also on 00:44:53.960 --> 00:45:01.240 the west side i was told of another development i'll go into more details on that one but uh it's a 00:45:02.200 --> 00:45:06.920 property owner went ahead and brought the part bought the property because they had gone through 00:45:06.920 --> 00:45:12.360 so much of the planning process they've already they had they did have to get a special use permit 00:45:12.360 --> 00:45:19.720 the special use permit was approved by not only city council but i guess p&z or whoever else 00:45:19.720 --> 00:45:27.240 approves it but two two boards they were going to tie into the 12 inch line that's on the north side 00:45:27.240 --> 00:45:37.240 of 380 the north the 380 line was pulled for the residential out west it stuck into a 12 inch line 00:45:37.240 --> 00:45:44.840 however if you look at the overall master plan that apparently is coming out or to be coming out 00:45:44.840 --> 00:45:50.920 it shows a 16 inch line that goes out there there are 13 months into the process that got 00:45:50.920 --> 00:45:55.240 the approval from texthot to use that now they're working through some stuff with texthot 00:45:55.880 --> 00:46:01.640 and then the water department comes back and says no you can't tap into the line on the north side 00:46:01.640 --> 00:46:08.200 but it wasn't communicated to them at you know pre-development meetings and things like that 00:46:08.200 --> 00:46:14.440 i just mentioned that because that seems to be a recurring theme that we are hearing i'm not 00:46:14.440 --> 00:46:20.040 involved in that by the time it gets to me at the banking level all that is kind of done by that 00:46:20.040 --> 00:46:27.160 point so but i'm just passing that on that i had heard i passed it on to britney britney did 00:46:27.160 --> 00:46:34.360 communicate with the development services team they're working to try to find a solution because 00:46:34.360 --> 00:46:39.480 the the initial plan that they had told this particular company was they need to bring 00:46:39.480 --> 00:46:46.600 another 12 inch line on the south side like a mile basically from moss branch all the way out 00:46:46.600 --> 00:46:54.520 wherever it is so this particular company does have employees they're bringing they are going 00:46:54.520 --> 00:47:03.160 to sell there there are sales there are other locations that they have in texas that this will 00:47:03.160 --> 00:47:08.040 probably cannibalize a little bit of the sales at other places but initially they think there's 30 00:47:08.040 --> 00:47:14.840 million dollars in sales there so to kind of bring this full circle here you know we've talked the 00:47:14.840 --> 00:47:21.000 last few meetings about when there is a decision that the city staff or city department is making 00:47:21.000 --> 00:47:28.600 that is going to ruin the viability of that company coming because of the the cost dynamics 00:47:28.600 --> 00:47:34.520 change that there needs to be communication to either this committee or the department 00:47:34.520 --> 00:47:42.360 and this is just another example that kind of reinforces that belief that i have right or wrong 00:47:42.360 --> 00:47:45.720 it's just another piece of evidence that kind of supports that would be helpful 00:47:45.720 --> 00:47:51.960 because there may be avenues i mean two things number one if that department really feels that 00:47:51.960 --> 00:47:58.600 strongly about it then they should have no problem coming here to defend that to economic development 00:47:58.600 --> 00:48:06.200 if it's a a want and not a need then maybe they'll be a little reluctant to ask that and throw up 00:48:06.200 --> 00:48:12.200 another roadblock again 13 months into the project when they already have all their approvals and it's 00:48:12.200 --> 00:48:20.440 just a oh by the way you have to spend an extra x million dollars so anyway i said that and i do 00:48:20.440 --> 00:48:27.800 feel strongly that i don't think that responsibility should be delegated to someone else it should be 00:48:27.800 --> 00:48:31.720 the person or the department that makes that decision that comes to kind of explain that either 00:48:31.720 --> 00:48:39.480 to economic development or not i do think we need to start evaluating you know like the catalyst 00:48:39.480 --> 00:48:45.800 fund we have that the the financial model that we used in the last presentation i think rick 00:48:45.800 --> 00:48:51.160 had asked can this be used in other departments in other areas and i think we have a pretty good 00:48:51.160 --> 00:48:57.080 example of that west park area where you know there were tours that were put in place to bring 00:48:57.080 --> 00:49:07.160 utilities out there marty rivers at american national bank has and trust has put a presentation 00:49:07.160 --> 00:49:12.760 three or four years ago together they showed what the tax base out there was at an ag level 00:49:12.760 --> 00:49:19.960 verse what it is now at a you know fully developed area so if our mindset from the water water 00:49:19.960 --> 00:49:27.080 department or wastewater not sure if those are the same or different but that the developer will 00:49:27.080 --> 00:49:33.560 just develop that and let them bear the cost if we want britney to be successful in bringing new 00:49:33.560 --> 00:49:38.040 businesses to the area i think we need to probably consider changing our approach in that 00:49:38.040 --> 00:49:42.680 using the resources that we have a model it's going to require more work by the city 00:49:42.680 --> 00:49:47.880 to actually use the equipment that we have and we pay for but we need to come up with some kind of 00:49:47.880 --> 00:49:57.880 roi on if we invest use the catalyst fund to bring the water the wastewater out in those areas and 00:49:57.880 --> 00:50:04.040 then this is what the tax base we projected to come in i'm not talking about the projections like 00:50:04.040 --> 00:50:08.520 i got a projection in that meeting that the airport brought and they're projecting operations 00:50:08.520 --> 00:50:14.920 increase over the next 20 years at two percent on average if you look at the last 19 years in 00:50:14.920 --> 00:50:24.360 the same table that they presented it's 4.75 percent so we're going to a market consultant 00:50:24.360 --> 00:50:28.760 and saying hey give us what you think and then we're just taking that and throwing it on there 00:50:28.760 --> 00:50:35.000 when it's not really realistic i think we need to really if we want to support this and we want 00:50:35.000 --> 00:50:42.520 businesses to grow i think it's a little unrealistic to require them to bring a model a pipe for water 00:50:42.520 --> 00:50:47.480 to their site that everybody else is going to be able to use down the road so i think we need to 00:50:48.440 --> 00:50:55.640 have an open mind and try to come up with what tax revenue what job creation what 00:50:55.640 --> 00:51:04.360 sales tax property and property tax and the tax creation all contributes to to make those plans 00:51:04.360 --> 00:51:09.560 and try to use some of the catalyst funds to go ahead and put pipe where it needs to be so we can 00:51:09.560 --> 00:51:18.040 do that so i just say that because that's what i'm hearing on the flip side and one of the comments 00:51:18.040 --> 00:51:26.680 was with regard to i put lutrier but i think it was mayhill 00:51:26.680 --> 00:51:34.680 oh no i'm sorry one of them was on the mayhill same thing we came in and did new roadways but 00:51:34.680 --> 00:51:41.640 there's still issues with some kind of excess capacity on utilities over there as well and so 00:51:41.640 --> 00:51:47.080 i just think that as we're doing things we need to think of be proactive and think about 00:51:48.360 --> 00:51:52.680 where we want to develop and not just put a band-aid over what we're doing and again there's 00:51:52.680 --> 00:51:57.240 people in this room that have way more experience in this area than me i'm just kind of a relayer 00:51:57.240 --> 00:52:06.680 but one of the things on the the airport discussion whenever they were presenting it was 00:52:06.680 --> 00:52:12.280 288 coming through one of the updates that they said in that meeting was that the city of den is 00:52:12.280 --> 00:52:17.960 currently in a negotiation with texas for right away on that the question that came back and i 00:52:17.960 --> 00:52:23.080 don't know if there's anything that the city can do or not but is there anything to expedite that 00:52:23.080 --> 00:52:27.640 process to open up that development by bringing in 288 is there anything the city can do to 00:52:27.640 --> 00:52:35.080 expedite that and if there is you know i told them i said well the city's going to want some kind of 00:52:35.080 --> 00:52:40.760 same roi model to you know if we're going to put x amount of dollars here what's our return going 00:52:40.760 --> 00:52:45.640 to be and i told the city manager that i didn't anticipate the two percent growth that you're 00:52:45.640 --> 00:52:51.400 illustrating on that deal was going to if if that's the return that we think that we're going to get 00:52:51.400 --> 00:52:56.120 over there then i'm sure the city has a better option to get better than two percent return 00:52:56.120 --> 00:53:02.760 so i think he was going to revisit because i was on operations dot revenue they were going to redo 00:53:02.760 --> 00:53:09.000 that but i i just think we should as a city utilize our resources that we have in all of these areas 00:53:09.000 --> 00:53:12.840 to figure out these models or these projects are worthwhile or not 00:53:12.840 --> 00:53:21.800 as coming out of all that discussion britney did talk to the water department the three things that 00:53:21.800 --> 00:53:29.160 i think that we should know or the city should know are brought to the surfaces where there are 00:53:31.000 --> 00:53:39.960 minimal excess capacity and water or wastewater what areas and then kind of overlay that with what 00:53:39.960 --> 00:53:47.720 the city's desires are in what areas and figure out how and then they need to explain to us the 00:53:47.720 --> 00:53:54.280 funding is it there or is it needed and what's the timeline to address that but i told her i 00:53:54.280 --> 00:53:58.840 wouldn't have them come until they can really address all those things so i don't personally 00:53:58.840 --> 00:54:02.680 i don't think it's a meeting that you can have next month but she thinks that she's going to 00:54:02.680 --> 00:54:09.240 get with them and verify they can but i think it would be helpful to over if that's it's like 00:54:09.240 --> 00:54:14.360 whack-a-mole right whichever one's coming up the most recent that's what we're trying to to hit 00:54:14.360 --> 00:54:18.360 and this is the recurring theme that i'm hearing you guys may have a different opinion or hear 00:54:18.360 --> 00:54:25.640 different things that we need to whack first but that was just my relay i could speak to a lot of 00:54:25.640 --> 00:54:32.520 what you were talking about can we talk about whether we want there's a lot but whether we want 00:54:32.520 --> 00:54:37.800 to have that discussion a future agenda because that's really what well we can we can tie it into 00:54:37.800 --> 00:54:44.200 the catalyst funds that's when we go back to that i think he brings up one very good point is i think 00:54:44.200 --> 00:54:50.760 looking at our capacities and what part of the cities we want to grow and what areas that we need 00:54:50.760 --> 00:54:57.560 more capacity to encourage to match what our plan is i think that is a great exercise and to speak 00:54:57.560 --> 00:55:01.880 to that a little bit i think we're a little further down the road than we think on that 00:55:01.880 --> 00:55:06.360 because the city just finished their master plan on the sewer and wastewater and their studies of 00:55:06.360 --> 00:55:13.560 where that's at that could be why some of those things came up on your client because they did i 00:55:13.560 --> 00:55:18.040 think they have completed their master plan and their capacity studies so they may already have 00:55:18.040 --> 00:55:25.480 more information than we think on that so i think in this in this plan i i think what the point you 00:55:25.480 --> 00:55:31.240 brought up is probably the most valid is let's understand in the city where we need to make 00:55:31.240 --> 00:55:38.200 investments and where we don't and what encourages to match the growth that we want because you know 00:55:38.200 --> 00:55:44.200 we were the first ones out on western boulevard we did a 380 degree city in the county on those 00:55:44.200 --> 00:55:52.680 first two buildings out there two buildings at 176 000 feet and we proved rents because that was the 00:55:52.680 --> 00:55:57.720 problem in denton right was proving rents we were able to prove we can get good rents in denton for 00:55:57.720 --> 00:56:02.440 industrial and you see what happens and i don't think the city gets enough credit for working with 00:56:02.440 --> 00:56:07.000 us on that project given those incentives because we didn't know if we could get those rents or not 00:56:07.000 --> 00:56:11.800 when we built those buildings but it was a joint city and county effort that thing goes and when 00:56:11.800 --> 00:56:16.600 they go good they're never back to city council for an update of hey this work look at the growth 00:56:16.600 --> 00:56:21.800 to the point of the tourism i think that should be things that come back to the council we see in the 00:56:21.800 --> 00:56:26.680 newspaper when stuff doesn't work but i that worked out there and you can see the minus square 00:56:26.680 --> 00:56:34.280 footage to one other point on i actually have projects on mayhill and west of 380 we actually 00:56:34.280 --> 00:56:42.280 own the largest track the land industrial land entitled and then you know 325 acres and the city 00:56:42.280 --> 00:56:49.480 is actually ahead of the curve a little bit on that issue in that area it's probably not advertised 00:56:49.480 --> 00:56:55.000 a lot until it's concreted that the feasibility of it works but there are some major sewer line 00:56:55.000 --> 00:57:01.960 projects working on the west side a major water line project working it just takes a long time 00:57:01.960 --> 00:57:05.800 you know we're doing a joint project with the city where we're getting the easements and doing things 00:57:05.800 --> 00:57:13.560 to help facilitate that so they're actually scott mcdonnell you guys i cannot speak highly enough of 00:57:13.560 --> 00:57:19.480 he's proactive on those issues and he's actively working on it to your client's need 00:57:19.480 --> 00:57:24.600 their consultants probably shouldn't be a little ahead of the curve on that shouldn't let them get 00:57:24.600 --> 00:57:30.040 that far down the road that's not 100 the city's issue you know if they had quality engineers work 00:57:30.040 --> 00:57:34.680 on that they're going to know what capacities are out there so i don't know that there was capacity 00:57:34.680 --> 00:57:39.800 on the north side they had all the approvals to tie into that but and and that's the thing is like 00:57:39.800 --> 00:57:46.440 if you look at the capacity they currently have the capacity now but then the city said no we want 00:57:46.440 --> 00:57:51.400 you to pull here because if you tie in that it's going to open up here and then if everybody down 00:57:51.400 --> 00:57:55.000 here goes into that i think it's going to there's a little more to that because there's pressure 00:57:55.000 --> 00:57:58.520 planes right there's an upper pressure plane out there and a lower pressure plane i'm working on it 00:57:58.520 --> 00:58:04.520 right now and so there's maybe a little more to that but to your point of what you made that if 00:58:04.520 --> 00:58:10.040 we have a problem with the tenant that there is an issue we could get into engineering details for 00:58:10.040 --> 00:58:14.760 the next hour i'm not going to bore everybody with that but to your point is if there is a hold-up 00:58:14.760 --> 00:58:20.280 and something's happening i think it would be very good if it's a if it's a tenant that matches our 00:58:20.280 --> 00:58:25.480 plan a tenant that we're actively recruiting and it matches our requirements then they should come 00:58:25.480 --> 00:58:31.720 to this thing and then we can see what we can do to help them um to speak to the mayhill road issue 00:58:31.720 --> 00:58:35.480 that was a problem we go build a new mayhill road and we don't put utilities in with it 00:58:35.480 --> 00:58:40.440 that is a big problem you know tech stopped spending millions of dollars to build four-lane 00:58:40.440 --> 00:58:45.960 mayhill road we should come along inside the city and put utilities in there as a master development 00:58:45.960 --> 00:58:51.080 i mean and look at a marketing study that is a good point that because i got a project i'm dragging 00:58:51.080 --> 00:58:58.920 sewer two miles and water another you know mile to get to my side right so there's an issue on 00:58:58.920 --> 00:59:03.720 that and that's a perfect example of we should look and say if we're putting a new road in the 00:59:03.720 --> 00:59:08.920 tax dollars because this is being spent we put in a minimal investment on utilities that's going to 00:59:08.920 --> 00:59:14.920 create development especially with the new bridge opening up now mayhill road is this traffic as 00:59:14.920 --> 00:59:19.720 much traffic as loop 288 because you got to go down the buckies and make that right turn now 00:59:19.720 --> 00:59:25.960 so mayhill road is the new corridor coming through right now so that's a great point 00:59:25.960 --> 00:59:34.120 but to defend a little bit which pains me to do but scott mcdonnell and his development team 00:59:34.120 --> 00:59:39.560 is doing a great scott isn't he yes it does because i don't want him to hear that so so i don't know 00:59:39.560 --> 00:59:43.240 that scott was aware like this particular issue i don't think scott was even aware it was the 00:59:43.240 --> 00:59:51.640 water department was aware of those guys right after jeremy the request is to get on the agenda 00:59:51.640 --> 00:59:57.400 whether it's next month or the month after and have some city department representation to address 00:59:57.400 --> 01:00:02.920 some of the yeah access capacity like a timeline funding address those three items with respect to 01:00:02.920 --> 01:00:11.960 water wastewater in the city and identify and and i guess yeah does that align with 01:00:11.960 --> 01:00:17.560 the what you just put out right for strategic vision right so if you go back some slides you had 01:00:17.560 --> 01:00:26.920 like eight eight potential customers right that potential coming in and a bunch of them were 01:00:26.920 --> 01:00:33.160 manufacturing as an example they think a lot of water right they do so we have the capacity to 01:00:33.160 --> 01:00:38.200 actually have that does that need to be in the plan right if we want to recruit that person 01:00:38.200 --> 01:00:45.000 does that need to be but where can we put them and does that fit into what we're doing exactly 01:00:45.000 --> 01:00:49.480 and i think that's a great part of our study that you're going to incorporate that the city can help 01:00:49.480 --> 01:00:53.960 apply that information especially they've done their studies and i think the city's open to that 01:00:53.960 --> 01:01:00.200 right like i think if anybody brings to council they say hey if we spend dollars in this area and 01:01:00.200 --> 01:01:04.200 show where we've done before i don't care where you set on council it's probably going to be 01:01:04.200 --> 01:01:09.640 support hey if this is an area growth and max matches our strategic plan matches our future land 01:01:09.640 --> 01:01:14.440 use that's not a hard sell you know but that takes an annual budget you know that's going to go in 01:01:14.440 --> 01:01:19.720 the next budget and there might be even funds outside of our the funds we have in utility 01:01:19.720 --> 01:01:24.360 budget for expansion of those things that we might be able to allocate for those things so 01:01:24.360 --> 01:01:28.680 there's lots of options but if we if we come with really good data and i'm so thank we brought that 01:01:28.680 --> 01:01:35.240 up of this is the type of uses we want in these types of areas that these types of zonings are 01:01:35.240 --> 01:01:42.040 already here and our deficiencies may be utility capacity merging those two things together i think 01:01:42.040 --> 01:01:45.880 no i don't think anybody i don't care where you stand politically isn't going to take that 01:01:45.880 --> 01:01:52.360 information and go hey this makes sense so again good depending on the scale you know of the 01:01:52.360 --> 01:01:58.440 investment and also you know potentially be very suitable for for bond yeah because it's an investment 01:01:58.440 --> 01:02:02.760 in the future yeah so i mean like i think that i think that's what we do that's what we need to 01:02:02.760 --> 01:02:10.280 look at right i'm going to go ahead we want to get it on an agenda item here that's the proposal 01:02:10.280 --> 01:02:17.160 yeah and okay so let me say i know one of the other things was whether we're going to have quorum 01:02:17.160 --> 01:02:25.880 next month it's march 12th is the targeted so we'll we'll schedule that request at the city 01:02:25.880 --> 01:02:30.680 depending on what feedback we get on the availability of everyone the thing i would 01:02:30.680 --> 01:02:35.800 say let's don't rush that because they it's going to take some time for them to really look at that 01:02:35.800 --> 01:02:40.840 and look at their master plan i would rather put it on a couple of agenda items down and let them 01:02:40.840 --> 01:02:44.760 really prepare because that's going to take engineering planning you know they got to get 01:02:44.760 --> 01:02:49.640 that in their schedule i would rather ask them for a schedule to get back to us on that with a reason 01:02:49.640 --> 01:02:55.400 i'm like not eight months from now but yeah i want to make sure that you have the opportunity to take 01:02:55.400 --> 01:03:01.320 back information that will be here on 12th okay you're asking for quorum you will be here i will 01:03:01.320 --> 01:03:06.840 not be here okay spring break okay i think that's going to be one of the challenges financial league 01:03:06.840 --> 01:03:15.560 of cities is that day so given given that potential of not having quorum and least point on just the 01:03:15.560 --> 01:03:20.200 veracity of the report that they're going to be able to bring back maybe we target april if that's 01:03:20.200 --> 01:03:26.040 what the city feels is appropriate yeah i would agree i would and that's what i said initially 01:03:26.040 --> 01:03:29.320 let them tell us when they can because i don't want to force it and then because they're going 01:03:29.320 --> 01:03:35.080 to come here get a lot of questions from this committee yeah then you'd be prepared yeah great 01:03:35.080 --> 01:03:39.640 thank you we're appointing a board regent this year too our board nomination committee is going 01:03:39.640 --> 01:03:44.040 to council on february 18th so that'll just be to form the nomination committee for this group 01:03:44.040 --> 01:03:51.960 so we can reappoint members and then let's see that hopefully by next uh even be more 01:03:51.960 --> 01:03:57.320 board meeting we'll have new board members as well i know steve's anxious to get it replaced 01:03:57.320 --> 01:04:02.600 but he's doing such a great job we want to give as long as possible all right so the other thing 01:04:02.600 --> 01:04:09.320 i wanted to just make sure texas open meetings act uh we everyone has to sign up on that is that an 01:04:09.320 --> 01:04:15.480 annual requirement or if you've done it is just one time so if there's anyone who hasn't done it 01:04:15.480 --> 01:04:22.520 we'd ask that you do that training and get the documents signed off and that um are we supposed 01:04:22.520 --> 01:04:29.480 to be out of this room at noon during the meeting after at noon okay and just for next board meeting 01:04:29.480 --> 01:04:33.880 we may have a project we need your approval and so in order please let us know you can't attend or 01:04:33.880 --> 01:04:37.240 no if you can't attend please do because we'll probably have the project if not we'll let you 01:04:37.240 --> 01:04:44.440 know okay great conversation thank you for your attention and for uh sticking around for all of 01:04:44.440 --> 01:04:49.560 it look forward to the next journey thank you good information good anything else really yeah 01:04:49.560 --> 01:04:56.440 anything else with the good of the order uh hearing none we're going to close at 1207 thank you all 01:04:59.480 --> 01:05:00.780 Okay, thank you.