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 for me that's better all right we will start with a good welcome to the meeting

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 of the economic development partnership for this Wednesday April the 9th 2025 at

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 1112 a.m. we've established quorum so I'll call the order first item is to

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 identify and prove the minutes from the last have a motion thank you and a

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 second thank you any discussion around the minutes hearing done we'll move to

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 vote all in favor signify by saying aye any opposed that carries thanks so much

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 the first item for consideration is EDP 25 - 0 0 6 I'm sorry that was just the

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 board thank you new item EDP 24 0 6 9 ordinance of the city of Denton Texas

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 corporation and much more because we're seeing Taylor's on her way thank you

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 Jamie Adams partnerships no walk through our annual report here and we'll take

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 questions at the end but mission of the date and economic development partnerships

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 expand the city's tax base and support facing jobs and target markets for

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 partnerships the stakeholder education which you will see throughout this

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 presentation the partnership has been in place since 1986 between the city that

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 chamber of commerce when they establish a joint economic development program and

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 it continues today six key roles that EDP plays in facilitating the region's

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 continued prosperity six things that we really focus on it's marketing events

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 assets through our website and social channels and in-person public private

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 connector business retention expansion which has been pretty key for us this

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 year building relationships convey industry players and supporting small

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 business which is also key a lot of times people when they make me think that

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 we just work with the large industries here in town but we do support all

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 business especially our smaller businesses in the contract with the

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 city there's four focus areas and we're going to talk about here the focus area

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 number one is relationship building with developers brokers local industries and

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 business and how we did that over the past year and part of the strategy and

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 tracking the investment relationship building was hosting our one of our

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 premier events recorded reforms which you're meant to educate regional

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 leaders the major employees values of investing and didn't facilitate dialogue

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 between public private leaders and last year we were able to host three of course

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 the year month the airport Hillwood himself helped us host one about

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 landmark high school and then we partnered with UNT to host the workforce

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 so three forms around 375 attendees for those quarterly forms last year we also

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 helped us plant manager round tables we have two of those which convene leaders

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 of about 3,000 employees we talked about topics that they're asking me on our

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 business retention and expansion visits about workforce development warehouse

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 automation was when we had the Tetra Pak and relationship building with our

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 universities and along with our high school partners we also hosted three HR

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 round tables around 250 attendees those are great collaborations with UNT

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 Career Center didn't I see the proud Academy in North Texas Sherman which is

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 the society for human resource management and then part of our contract

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 is I'm tasked with five community engagement talks last year had a chance

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 to do seven of those but those primarily focus on the value of public private

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 partnership and economic development usually a free lunch of those two so I

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 enjoy another strategy is promoting didn't create a brand from our social

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 website channels we were asked to create 12 stories over the course of the year

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 we did that these 12 stories are about didn't businesses are local happenings

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 and one of the reasons why strategic in that way we want someone who's looking at

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 Denton from around the world or from America to really slice of life from

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 they have industry they also have coffins going down Hickory Street for me

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 that's a really unique place with that strategy our website saw some

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 significant growth didn't need a p.com 23 24 we went from 3,200 users a month to

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 around 58 63 users a month with around 12,000 average page views a month which

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 is an 83% increase year-to-year and our emails had really good engagement this

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 past year I have a 54% open rate which is two times industry average and 16%

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 collective rate which is six times industry average which means that the

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 items in our email or something that speaks to people and you want to click

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 on those another strategy is is understanding professional office space

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 and I was tasked with meeting with five property managers to address vacancies

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 concerns had a chance to meet with eight office vacancies have dropped from about

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 nine point three percent quarter one of 24 to 7.8 percent in quarter four of

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 2024 market rent with that drop market rent has gone up a little bit square

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 foot was 27.61 with an asking of $24 and ending with $28 and asking about

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 26 14 so vacancies have dropped and demand prices our industrial space I was

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 asked to engage five industrial property managers of vacancy concerns had chance

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 to visit with 11 over course of the year didn't has around 24 million square feet

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 of warehouse space we have about 4 million available at this this moment 2.1

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 million was built in 24 which made us the fastest growing market in the

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 metroplex overall inventory increased by 10% in 2024 we are our available rate is

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 around 17% the DFW average around 10% 9.6 10% so we're a little higher that

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 speaks to the availability of land we had the growth of recruitment but our

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 vacancy rates have started to decline come down and absorption outpaced

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 construction delivers so the national average is around 6.5% we are a little

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 higher than that we are seeing those get snatched up second focus area was

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 business retention and attraction site tours site business tours and meeting

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 with our business leaders BRE is a strategy of connecting with existing

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 businesses understanding responding to needs one of the things you always want

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 to point out is we work with already established businesses and one of the

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 reasons why that is is the International Economic Development Council says that

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 80% of growth happens from business retention and expansion recruitment is

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 very important but having our businesses are here grow expand add employees that

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 space is really important to what we're doing here so part of our business

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 retention expansion is we want engaged existing businesses that represent the

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 city's core values of competitive kinetic connected creative and

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 sustainable sectors and that helps preserve and increase local jobs tax

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 revenue diversifies local economy and along with diversifies access to the

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 other sources we were tasked with of course here visiting having 40 BRE

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 visits and we were able to be 51 exceeding our goal and and of those 51

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 visits eight businesses indicated they were looking to expand either with

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 employees or expanding their footprint 12 express concern of employee

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 transportation which is primarily in West Park area I think our percent of

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 those 12 area and around 26 trust concern of a workforce development and

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 that can be a variety of things where you know where's the next wave workers

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 coming from how do we engage 18 to 24 year olds so and so on but workforce

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 development question was brought up over half the time very we facilitate

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 requested connections one that I opening things to me is I thought everybody who

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 worked in a business knew the other guy who worked in the business but come to

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 find out we don't so we were trying to help connect business to business

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 relationships workforce connections business community a lot of business we

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 visit when you're more involved with the chamber more involved and events

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 happening in infrastructure concerns is a question that we help answer but of

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 our 51 visits we were able to connect 43 of these companies with either a grown

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 and then ISD and CTC you into your TV you some aspect to be the career center

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 or professor are someone is to provide some guidance we were able to share job

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 fairs to work for solution University partners where we hear one we shared up

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 partners and then what you know employee satisfaction comes up a good bit and we

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 were able to introduce a lot of people to the original of Texas one of the TV

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 staffs to encourage people that they don't have to go to the down stores or

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 Cowboys games great time here and the gymnastics me a football game the third

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 focus area is business to business networking we are a champion and

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 convener so we promote industry specific networking events business

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 communities I am able to connect businesses with you social times hosting

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 luncheons also engaging new businesses who moved to town we find a lot of

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 people who have come to town last year still drinking from a fire hose and they

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 want to know how do we get involved how do we get connected visiting with those

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 businesses and then you know sharing what's going on and then this is what we

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 do so we continue partnership with the city the certificate of occupancy emails

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 that go out each month is key and a lot of love our email database really enjoys

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 that that's a great partnership city to be able to share that list with us each

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 month in our champion convening we you know we want to help businesses thrive

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 on its challenges to fuel continued growth like I said earlier a new

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 business wants to engage in the community we help connect them with their career

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 networks resources industry that'll help them invest in the city competition for

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 top talent is high you hear a lot with the best people so that's one of the

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 things we do is providing that pipeline to work for solutions or NCTC did I see

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 another week goes by that we aren't sharing those connections with our

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 business leaders and small businesses don't want to leave them out like I

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 mentioned earlier you know they need resource and descendants and assistance

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 in our our partnership with the small business development center really helps

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 them get free of ice and expertise the last focus area is business training

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 education private investor relations in the small business development center

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 our funding goes to the small business development center and over 20 24 they

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 were able to help 67 businesses start supporting around 254 jobs 642 unique

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 clients were served 546 underserved communities clients serve and those are

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 typically people who don't have access to resources whether it be socio-economic

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 or geographic and then it's a capital infusion and then a little too many

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 dollars so we won't think or Logan and staff the small business development

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 center and like I said it's it's a key point here but the relationship building

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 with UNTT of UNCTC career centers in the grown with that next wave of workforce

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 and helping them to understand the comings and goings of young people has

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 been really important a great for forced collaboration for us and then speaking

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 on the private side of the economic building partnership funds that come

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 from the general chamber membership support is raised specifically for our

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 economic development efforts right now we have 125 businesses invested in our

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 partnerships and they represent all of our strategic growth areas from the

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 city's strategic point and that is it I'm open for questions and those things

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 is I remember like six or seven years ago we had a slide of Western in that

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 whole area was $96 worth of tax revenue and it'd be nice to know what that tax

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 revenue is now we first started that or maybe we can throw that in this one

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 thing I don't know that we do is throw into that economic model we do a

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 business-to-business right like you said hey Peterbilt you have this economic

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 impact I can tell you number boys all that stuff but what has been the impact

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 of the Western industrial sector like area of Denton basically in five-year

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 increments or something would be a good thing to kind of show right yeah okay to

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 include the airport yeah exactly that's that's that sector of Denton is grown in

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 the last 20 years since I was Peterbilt in the airport there's a bunch of

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 different stuff over there it's a great story I just don't think we do a good

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 enough job of telling the story and what the actual bottom line is we will get

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 that easy except that my comments only tangentially impact anybody in this room

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 but given my previous criticism about letting UPS get out of here with that

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 city taking I've been at FEMA the last three days because there's a little

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 emergency going on up in Arkansas and Civil Air Patrol has taken about 20,000

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 pictures for FEMA I've got three airplanes up there but I had an

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 opportunity to talk to Tony Robinson yesterday and he is the head of FEMA

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 region six if you don't know that's Louisiana Arkansas Oklahoma Texas and New

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 Mexico anytime there's a disaster people come here to respond there been about 60

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 of us out of the center underground out there the last three days now they've

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 stood down except for the aviation part of the thing because they don't need any

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 more support from being at this point time but he commented that he used to

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 get invited to the mixers the business things occasionally the City Council

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 would come out and have a meeting out there said I haven't heard anything from

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 anybody in about five years folks that is a gold mine in this community and I

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 offered to have him come speak to us but I think a better deal would be to have

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 Christine and Brittany work with him for us to go out there and see if you've

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 never been in that facility it's crowded but it's amazing what asset we have here

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 in town and they go through all the same things all these other folks go through

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 needing the higher quality people and and all the other things and I didn't

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 know this until I happened to be waiting on the elevator that property was

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 purchased by businesses and people in Denton Texas and donated FEMA back in

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 the early 60s to lure them to come to town and their names are posted on a big

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 poster and I mean it's pretty cool and I meant to take a picture but I forgot I

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 was coming to this one sorry about that but anyway I just think that that

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 somehow has been overlooked through the years that is so important to this

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 community that's just my thought is I think we've got to go back and take more

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 examination would you mind helping set an introduction or sharing Tony's

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 information with us I think helicopters too long I'm hard to hear Tony Robinson

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 was the directors names and I'll get you his former perfect thank you very much I

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 would just like to make a comment on behalf of Christine Taylor I will work

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 with Jamie and Brittany commisively on this we're very supportive of the work

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 that Jamie has done to tie this back in to the city's work plan and Rick that's

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 really good feedback and part of us tying it into that work plan is making

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 sure that Brittany has a lane and Jamie has a lane and it's kind of like merging

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 on 35 we do it sometimes but sometimes we stay apart so what we do best we do

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 together but most certainly we can reach out to FEMA but this all ties to the

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 work plan and so Christine and I are very supportive of the work that's

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 happening I think this has happened before probably six or seven

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 administrations even before the current City Council I've been somehow they just

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 have fallen in the crack absolutely good opportunity pictures are didn't happen I

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 was out there two years ago at least and then before that so we've been out there

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 I talked to pretty regular but you haven't had a council meeting or the council out

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 there to have lunch or something what he told me it doesn't matter just sure I'm

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 just saying we bump into the one guy that I know regular I just want to you

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 know it hadn't been five years and I looked at the picture to make sure and

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 it's time stamped so I feel real comfortable saying a couple years ago I

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 was out there with my family and then Chief Dixon hosted the thing out there

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 before that so maybe he just didn't get updated yeah yeah I mean a lot goes on

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 out there so we could bring this for a follow-up meeting

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 I think so they're there they've expanded beyond their footprint significantly

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 even behind me you know so yeah a lot of great things happening and they need to

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 expand again I would ask one thing Jamie I'm struck by the mission and I

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 appreciate that you share it but it is to expand the city's tax base and I

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 think this maybe goes on with what Brian was saying I didn't see anything in the

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 presentation on the annual report and as I was thinking about I don't know that

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 that's something that we bring back regularly on the impact of tax-based

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 credit and help if we quantify that through the work that's done

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 any other comments questions move for approval for this

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 yes it's Christine's part she's not able to make it today and so I just want to

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 briefly go through the history of the chamber

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 so Jamie just went over the annual report and so there's an updated work plan the

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 agreement typically goes before the economic development partnership for your

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 pre-approval the work plan was drafted it's been there's been a few versions

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 gone back and forth to the chamber in the city and so now it's a legal's hands

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 and that's why we won't able we weren't able to add as an attachment but it will

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 go it will if this is approved today it will go forward to City Council so just

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 as a reminder through City Council the Denton Chamber of Commerce entered into

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 an economic development partnership agreement in 1986 through an economic

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 development program agreement the city provided funds for the administration

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 and operation budget at the Chamber of Commerce's office of economic development

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 which includes prospect generation activities marketing activities trade shows

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 published to bring well site and small business development center support some

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 of that text will need to be updated to and because I do much more including

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 business retention expansion over the past few years an agreement between the

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 city the chamber included specific goals deliverables and metrics for the

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 chambers office of economic development along with the enhanced clauses regarding

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 financial party information and dignity prior action review so this is the past

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 history I won't read all of it but just so you know we will present this on

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 April 15th at City Council on consent by the way and so it says May 6th was

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 actually April 15th so now we can ask for a vote okay any questions all right

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 motion for acceptance presentation second first Dan or nominated Dan

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 seconded any other conversation hearing none we'll move to vote all in favor

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00:22:33,360 --> 00:22:47,000
 signify by saying aye thank you any nays and abstention thank you thank you great

242
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 thanks we now move to edp 25 - double oh seven alright so experiments in his

243
00:22:59,480 --> 00:23:04,520
 countless fine pitch and this was an item presented by councilmember Jill

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00:23:04,520 --> 00:23:11,040
 Jester during a two-minute pit process during City Council and so just as an

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 overview of help what a two-minute pitch is this was implemented over the past

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00:23:15,640 --> 00:23:19,360
 year during the time that I was here were City Council if they're looking for

247
00:23:19,360 --> 00:23:24,440
 updates to city policy or implementing program they are required to submit a

248
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 two-minute pitch during the City Council work session it's from there it'll go

249
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 down it'll go forward to agenda committee which also consists of City

250
00:23:31,600 --> 00:23:37,180
 Council members and it'll move forward to other boards or City Council evening

251
00:23:37,180 --> 00:23:43,240
 council approval and so they have asked the agenda committee has asked our staff

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 to review the feasibility of this and I'll go over the details starting with

253
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 the background on November 19 2024 councilmember Jill Jester presented a

254
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 two-minute pitch to City Council directing staff to evaluate the

255
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 feasibility of using experience in us as a funding mechanism for the catalyst

256
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 fund so timeline I won't go over the whole timeline but on April 9 today we

257
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 will ask for your opinions and then we forward to City Council work session on May 6.

258
00:24:13,280 --> 00:24:19,520
 So what is the catalyst fund? As a reminder that is our primary source of

259
00:24:19,520 --> 00:24:24,200
 funding for grants for economic development and so we use a catalyst fund

260
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 for job-based grants for infrastructure grants for our tech entrepreneur grant

261
00:24:28,720 --> 00:24:34,080
 and our also our headquarters grant and so the way that it's funded is through a

262
00:24:34,080 --> 00:24:40,600
 mixed beverage tax that's over 150,000 annually through investment income it was

263
00:24:40,600 --> 00:24:45,400
 we received a one-time transfer from utility water and wastewater plan line

264
00:24:45,400 --> 00:24:50,760
 funds branches we return on investment revenue which is a million annually and

265
00:24:50,760 --> 00:24:56,960
 as of September 2024 the fund had approximately 5.3 million dollars and

266
00:24:56,960 --> 00:25:04,440
 the annual budget revenue is approximately 1.1 million dollars so the

267
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 pitch proposes a funding mechanism to consider rededicating dollars from

268
00:25:08,240 --> 00:25:12,840
 sales tax and Avalor Mancino as they terminate to the catalyst fund and so

269
00:25:12,840 --> 00:25:17,860
 what that means is if you have a tax that was created in the past five to ten

270
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 years then it will expire the next five to ten years once it expires for example

271
00:25:25,440 --> 00:25:29,760
 there's a company that has a 50% abatement that 50% of the taxes that

272
00:25:29,760 --> 00:25:34,280
 they are paying goes to the general fund the city's general fund once the

273
00:25:34,280 --> 00:25:38,520
 incentive expires the additional 50% will then move towards a general fund as

274
00:25:38,520 --> 00:25:43,200
 well councilmember jester is pitching that an additional 50% will move forward

275
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 to the catalyst fund to help with future economic development incentives and so

276
00:25:48,760 --> 00:25:53,300
 we're very thankful that councilmember jester pitched this because we know that

277
00:25:53,300 --> 00:25:57,280
 this is one of her first two-minute pitches is to support economic

278
00:25:57,280 --> 00:26:01,840
 development initiatives and so I'll go over the numbers for our chapter 380

279
00:26:01,840 --> 00:26:06,480
 incentive agreements we have about nine to ten active agreements that Erica

280
00:26:06,480 --> 00:26:11,160
 Sullivan our economic development program administrator manages every year and so

281
00:26:11,160 --> 00:26:15,600
 for our chapter 380 Avalor and chapter 380 mixed beverage and sales tax

282
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 incentives we would have potential of transferring a little over six point nine

283
00:26:21,480 --> 00:26:26,320
 million dollars to the catalyst fund versus a general fund for tax abatements

284
00:26:26,320 --> 00:26:30,240
 we would have a little over one point nine million dollars to transfer for a

285
00:26:30,240 --> 00:26:41,280
 total of eight point nine million dollars over ten year term so this

286
00:26:41,280 --> 00:26:44,520
 slide was the same thing I just said total potential eight point nine million

287
00:26:44,520 --> 00:26:51,560
 over ten year term and that's dependent on the health of the general fund let's

288
00:26:51,560 --> 00:26:56,440
 see this is a goal of our strategic plan as well it was passed in 2020 our

289
00:26:56,440 --> 00:26:59,740
 economic development strategic plan and this was a recommendation to roll over

290
00:26:59,740 --> 00:27:06,520
 expiring incentives into that fund so it also aligns with our goals so the next

291
00:27:06,520 --> 00:27:12,200
 steps for recommendations is to for the board to option one recommend at

292
00:27:12,200 --> 00:27:15,800
 reallocating inspiring economic development incentives to the catalyst fund contingent

293
00:27:15,800 --> 00:27:19,640
 on annual budget evaluations and general fund status for a maximum of nine

294
00:27:19,640 --> 00:27:24,200
 million the alternative is to recommend allowing expiring incentives to transfer

295
00:27:24,200 --> 00:27:29,680
 back to the general fund just keep it as it is and the next step would to be

296
00:27:29,680 --> 00:27:38,960
 present your recommendations to City Council work session any questions yes

297
00:27:38,960 --> 00:27:46,280
 councilman so you know maybe alternatives in between the range of a

298
00:27:46,280 --> 00:27:55,240
 hundred percent zero percent my question is do you have a point of view on sort

299
00:27:55,240 --> 00:28:01,000
 of what a healthy and adequate number is that we should be trying to get to in

300
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 the fund you know the reason I'm asking that is like I get it that this is you

301
00:28:05,120 --> 00:28:11,520
 know what we're trying to accomplish but it's also true that we do these

302
00:28:11,520 --> 00:28:15,280
 incentives so that ultimately it'll take pressure off of property tax you know

303
00:28:15,280 --> 00:28:19,360
 like said at some point it's supposed to kick into the general fund you know so

304
00:28:19,360 --> 00:28:23,920
 you know is it a hundred or zero or is there would we achieve a really robust

305
00:28:23,920 --> 00:28:28,600
 catalyst fund at some percentage that's between a hundred and zero and that when

306
00:28:28,600 --> 00:28:33,520
 some of it go to the general fund so the way to answer that is to at least you

307
00:28:33,520 --> 00:28:36,360
 know I think to address the question of what's the number that we're trying to

308
00:28:36,360 --> 00:28:39,880
 hit right that's a great question I think our goal is if we're able to meet

309
00:28:39,880 --> 00:28:43,480
 nine million dollars over the course of two years that would be ideal it's

310
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 dependent upon of course annual evaluations you see we actually have the

311
00:28:48,600 --> 00:28:53,360
 funds to roll over but it's also dependent on our agreement structures

312
00:28:53,360 --> 00:28:57,520
 because every agreement that we have with companies it could be 50% it could

313
00:28:57,520 --> 00:29:01,760
 be 75% that we're collecting it and I think on the administrative side it would

314
00:29:01,760 --> 00:29:07,160
 just be easier and on and instead of taking an additional 50% or 25% of the

315
00:29:07,160 --> 00:29:12,840
 50% to monitor that a hundred percent of the taxes that will they'll pay will go

316
00:29:12,840 --> 00:29:19,580
 over to the catalyst fund so that's my perspective I think in nine million is a

317
00:29:19,580 --> 00:29:24,040
 great number for us because it's more than what we have but again it's just

318
00:29:24,040 --> 00:29:28,600
 really dependent on what how our general fund looks like every year

319
00:29:28,600 --> 00:29:32,680
 there's any number that's greater than zero is more than what we have you know

320
00:29:32,680 --> 00:29:40,040
 totally say like you know what do we need to have how often does that get

321
00:29:40,040 --> 00:29:43,920
 reviewed I guess is that something that y'all would do as part of your budget

322
00:29:43,920 --> 00:29:49,440
 process annually like the council like would this be something you have to

323
00:29:49,440 --> 00:29:58,320
 approve annually to go ahead and extend that just curious the mechanisms so we

324
00:29:58,320 --> 00:30:01,680
 would review it annually we have a budget sessions this is our actual

325
00:30:01,680 --> 00:30:06,280
 budget time so we would review it in our budget Erica puts together a financial

326
00:30:06,280 --> 00:30:09,160
 forecast every year with all of our incentive agreements and so we know

327
00:30:09,160 --> 00:30:13,440
 what's been what is supposed to be projected for incentive agreements over

328
00:30:13,440 --> 00:30:18,480
 the next 10 years so annually and by the way every company has to complete a

329
00:30:18,480 --> 00:30:23,400
 compliance letter every year to ensure that they're meeting their basic

330
00:30:23,400 --> 00:30:29,560
 Avalor and valuations and so if they don't meet those valuations they may not get an incentive that year it'll go on to the next year

331
00:30:29,560 --> 00:30:40,240
 so you know in the area like within say 50 miles or a hundred miles what their

332
00:30:40,240 --> 00:30:48,760
 number is like what's like what's what's the number in from or saying or a valid

333
00:30:48,760 --> 00:30:53,320
 you know I'm saying like Gainesville is probably a better mark right like

334
00:30:53,320 --> 00:30:57,940
 I don't like how do we know we're kind of sure kind of the Paul's numbers like

335
00:30:57,940 --> 00:31:03,360
 5 million is a good number we got Frisco Plano all these other ones that you

336
00:31:03,360 --> 00:31:10,480
 might say well holy cow but I just don't know I don't have a perspective that's a

337
00:31:10,480 --> 00:31:13,600
 great question so we derive 9 million from our

338
00:31:13,600 --> 00:31:17,080
 financial forecast for our current incentive agreements and when we know

339
00:31:17,080 --> 00:31:20,440
 that they're going to expire of course that's variable because some companies

340
00:31:20,440 --> 00:31:23,640
 may want to expand their incentives and may apply for additional incentives if we

341
00:31:23,640 --> 00:31:26,840
 know that we will have additional incentive agreements so there's one

342
00:31:26,840 --> 00:31:31,320
 variable and the other variable is that our catalyst fund is our comparison to

343
00:31:31,320 --> 00:31:35,720
 different cities sell sex corporations and so whereas Arlington's getting 20

344
00:31:35,720 --> 00:31:40,520
 million a year we got 5.3 million dollars that we you know we have in our fund

345
00:31:40,520 --> 00:31:45,120
 that we're slowly generating so that's how that's how we use there as comparison

346
00:31:45,120 --> 00:31:48,880
 and because ultimately when other cities have that that much funds in their sell

347
00:31:48,880 --> 00:31:52,240
 sex corporation they're able to do more creative incentive packages so they're

348
00:31:52,240 --> 00:31:58,560
 able to get $500,000 upfront grants for jobs or just for relocating to another

349
00:31:58,560 --> 00:32:02,160
 city whereas we have to be a little bit more strategic I think I think we all

350
00:32:02,160 --> 00:32:06,680
 understand that I'm just asking what the numbers are right like if we understand

351
00:32:06,680 --> 00:32:10,200
 Arlington's got a tax and all that was that what are the numbers right like

352
00:32:10,200 --> 00:32:21,040
 what's McKinney because we built a plane McKinney for a division of Packard kind

353
00:32:21,040 --> 00:32:28,480
 of know what we got from that so you don't relocate oh no I'm not doing that

354
00:32:28,480 --> 00:32:31,920
 but I'm just saying if you just kind of you kind of know if you want a big

355
00:32:31,920 --> 00:32:39,320
 employer like what do you what's the number something we should know not

356
00:32:39,320 --> 00:32:44,520
 saying we have to do it it's just something we should know so we don't

357
00:32:44,520 --> 00:32:48,800
 build the budget like the 9 million where is that what you asked for in there

358
00:32:48,800 --> 00:32:52,640
 or you put something less than what you really was ideal it's kind of long get

359
00:32:52,640 --> 00:32:57,600
 that we don't have a benchmark so yeah it's a great question this was let me

360
00:32:57,600 --> 00:33:04,720
 see if I can go to this outer slide so just to review the history and the

361
00:33:04,720 --> 00:33:09,760
 catalyst fund was not always it was the investment fund and some of you I don't

362
00:33:09,760 --> 00:33:14,200
 know if anyone has known the board that long but the investment fund operated

363
00:33:14,200 --> 00:33:19,800
 back in 2016 and so once the strategic plan was adopted in 2021 that is when

364
00:33:19,800 --> 00:33:26,400
 previous leadership adopted the catalyst fund and so you this these three sectors

365
00:33:26,400 --> 00:33:30,840
 here utilities city friends in a roll box or earmark percentage of the tax

366
00:33:30,840 --> 00:33:34,760
 revenue from future developments and business fundraising campaign let me get in chamber

367
00:33:34,760 --> 00:33:40,320
 those were all three recommendations from the consultants to create the

368
00:33:40,320 --> 00:33:45,080
 catalyst fund so this orange box right here has not been completed but the

369
00:33:45,080 --> 00:33:54,640
 utility one has it's if you go back to these are all the this is a budget of

370
00:33:54,640 --> 00:33:58,560
 funds that we receive every year that we're allowed from city management and

371
00:33:58,560 --> 00:34:04,600
 City Council so we get a hundred million annually a million annually and that's

372
00:34:04,600 --> 00:34:11,080
 about it so that's in this in addition if this item was approved that council

373
00:34:11,080 --> 00:34:15,880
 member adjuster approved and we would get nine million dollars incrementally

374
00:34:15,880 --> 00:34:19,280
 it'll take a little bit to build at least we're getting a separate source of

375
00:34:19,280 --> 00:34:24,600
 revenue so on the budget we probably could request an additional

376
00:34:24,600 --> 00:34:29,200
 supplemental to add to this budget but it would be competing with other

377
00:34:29,200 --> 00:34:37,320
 departments for that but wouldn't it wouldn't that be the decision of the

378
00:34:37,320 --> 00:34:42,160
 council to figure out where they think the importance is I mean I guess if I

379
00:34:42,160 --> 00:34:46,360
 think stuff if I think and I had the same same discussion kind of with the

380
00:34:46,360 --> 00:34:53,320
 airport that day is if you think your job or your position or your endeavor is

381
00:34:53,320 --> 00:34:59,160
 worthy then I think we need to ask for what we think the need is and then build

382
00:34:59,160 --> 00:35:04,160
 a case on why that need is then allow the council to do their job and figure

383
00:35:04,160 --> 00:35:10,640
 out what departments need it more because if you're kind of negotiating

384
00:35:10,640 --> 00:35:14,960
 against yourself a little bit if you say well parks they really need new plants

385
00:35:14,960 --> 00:35:19,480
 over here on you know a median or whatever so I'm gonna cut mine back we

386
00:35:19,480 --> 00:35:23,980
 automatically saying that your endeavors not that word or relative to the other

387
00:35:23,980 --> 00:35:28,680
 one you should I'm saying so why would we ask for what we need I guess is what

388
00:35:28,680 --> 00:35:36,520
 I'm asking yes it's it's a process right but we can definitely put the request in

389
00:35:36,520 --> 00:35:42,840
 I think we should all right we have two council members that are on our board

390
00:35:42,840 --> 00:35:46,400
 and I think that's a purpose of the board to is to pitch those ideas and

391
00:35:46,400 --> 00:35:52,200
 then we can take it forward to City Council so it's just we as staff members

392
00:35:52,200 --> 00:35:56,160
 we can't do that on our own we can advocate as much as possible but even to

393
00:35:56,160 --> 00:36:00,520
 get where we are now with the countless but it took the help of the board and I

394
00:36:00,520 --> 00:36:03,880
 will say our finance department is paying close attention to how the

395
00:36:03,880 --> 00:36:08,800
 federal administration changes is affecting our local companies so we're

396
00:36:08,800 --> 00:36:12,760
 kind of conserving at this point because we're not getting as many federal grant

397
00:36:12,760 --> 00:36:19,260
 funds as we thought you know for this year also consumer spending how is that

398
00:36:19,260 --> 00:36:24,120
 affecting how will that affect our tax paying entities right or companies are

399
00:36:24,120 --> 00:36:27,520
 they gonna pay are some people always gonna pay property taxes will they skip

400
00:36:27,520 --> 00:36:33,080
 out will they pay will we get the sales tax that we expect so those are all

401
00:36:33,080 --> 00:36:37,440
 variables that we're paying attention to and I would just I would I don't want to

402
00:36:37,440 --> 00:36:44,560
 belabor the point but if you don't ask for what you think you need they don't

403
00:36:44,560 --> 00:36:50,080
 know so they're making a decision on what you're asking for and if you ask for a

404
00:36:50,080 --> 00:36:54,360
 lesser amount they think they're meeting all the needs that you have asked for

405
00:36:54,360 --> 00:36:59,120
 does that make sense now the flip side of that coin is if I'm on council which

406
00:36:59,120 --> 00:37:08,360
 I'm not nor do I plan to be the if I give you X and you don't use it it's

407
00:37:08,360 --> 00:37:11,440
 kind of like crying wolf a little bit too right so it needs to be reasonable we

408
00:37:11,440 --> 00:37:16,240
 don't need to over ask for what we don't need we need to figure out what a true

409
00:37:16,240 --> 00:37:20,280
 budget for you to do your job effectively is and then ask for that

410
00:37:20,280 --> 00:37:25,360
 amount so it's fair to both sides yeah what I was kind of getting that same

411
00:37:25,360 --> 00:37:29,280
 think we're in a different direction maybe is a what other people have but be

412
00:37:29,280 --> 00:37:34,760
 if you look back at the strategic plan what are you trying to actually attract

413
00:37:34,760 --> 00:37:38,840
 here right because organically you're gonna grow warehouses because of where

414
00:37:38,840 --> 00:37:43,200
 we are and that's fine that's you know warehouses create jobs whatever that's

415
00:37:43,200 --> 00:37:47,840
 what we want to do that's fine you go back to the strategic plan you say I

416
00:37:47,840 --> 00:37:53,280
 want to know the large manufacturer here right large manufacturers gonna ask for

417
00:37:53,280 --> 00:37:58,520
 typically 200 acres of land and utilities and all that before they put a

418
00:37:58,520 --> 00:38:04,360
 plan that cost X is that realistic to do with what we have if that's in our

419
00:38:04,360 --> 00:38:08,720
 strategic plan we've got got to know that's gonna cost X amount of money to

420
00:38:08,720 --> 00:38:13,280
 attract you know these people that we are interested in attracting when we go

421
00:38:13,280 --> 00:38:17,840
 to the business fair or the different things we go to right like that's kind

422
00:38:17,840 --> 00:38:22,000
 of what I'm getting at is like it if you tie it back to the strategic plan you

423
00:38:22,000 --> 00:38:25,080
 say these are the sectors or things that we're interested in and what's

424
00:38:25,080 --> 00:38:29,680
 attractive to them so for example the thing that's very attractive to the AI

425
00:38:29,680 --> 00:38:33,100
 mining company is a hundred percent green energy well that's great we got

426
00:38:33,100 --> 00:38:38,440
 that right so we don't have to net maybe incent them as much as someone that this

427
00:38:38,440 --> 00:38:42,520
 part of the for this sector here we're trying to go after they need this this

428
00:38:42,520 --> 00:38:47,320
 and this typically to get a job so when you put those things together with the

429
00:38:47,320 --> 00:38:51,360
 strategic plan and where that diverse that economic diversity comes in you can

430
00:38:51,360 --> 00:38:58,720
 kind of see am I in the ballpark of what I need to hit the strategic plan that's

431
00:38:58,720 --> 00:39:02,120
 that's that's what that's what I'm getting at it's how do you construct it

432
00:39:02,120 --> 00:39:09,360
 kind of from a zero base budget against the we I mean this is a great start I

433
00:39:09,360 --> 00:39:14,960
 just don't know what that not enough too much because I don't have that tied to

434
00:39:14,960 --> 00:39:24,080
 the strategy right like correct that that number is purely tied into what is

435
00:39:24,080 --> 00:39:29,160
 existing they can be shifted from and expiring but that's fine so we're just

436
00:39:29,160 --> 00:39:35,120
 asking and I think Councilwoman just gesture is asking the same so is that

437
00:39:35,120 --> 00:39:39,040
 what's being asked of the board if you support that yes in any future

438
00:39:39,040 --> 00:39:42,800
 recommendations I think she just wanted to hear your feedback as well and this

439
00:39:42,800 --> 00:39:47,680
 is how we'll get to council members that'll vote on it in the future but on

440
00:39:47,680 --> 00:39:54,160
 oh gosh this year at some point we are going to have a full new board members

441
00:39:54,160 --> 00:39:58,440
 and so we will host a board retreat and during the board retreat I would like to

442
00:39:58,440 --> 00:40:01,920
 bring some of these ideas up because I think we need have new faces all over

443
00:40:01,920 --> 00:40:06,280
 right this is my first cycle going through the budget and so we rely on the

444
00:40:06,280 --> 00:40:09,840
 board's feedback so that we can report it back to our city management and

445
00:40:09,840 --> 00:40:17,160
 council so this is a great start I think two things we'll move for we'll ask for

446
00:40:17,160 --> 00:40:21,200
 a motion on this I do think the conversation earlier in regards to being

447
00:40:21,200 --> 00:40:27,680
 able to identify what EDP is resulted in additional tax base would give you some

448
00:40:27,680 --> 00:40:32,240
 justification on what your total ask is because you've demonstrated results with

449
00:40:32,240 --> 00:40:36,640
 that I think there's some way to correlate that that would be impressive

450
00:40:36,640 --> 00:40:47,840
 to me talk about that model that they presented to us they represented that it

451
00:40:47,840 --> 00:40:52,240
 could give you a return based on that model and if that's the case we're ready

452
00:40:52,240 --> 00:40:57,920
 for that I think that was a prospect and it would be I'd like to see what we

453
00:40:57,920 --> 00:41:02,440
 actually have with the ones that we've supported and brought through to council

454
00:41:02,440 --> 00:41:09,000
 for vote and if there's an opportunity that's a great point all right I'm gonna

455
00:41:09,000 --> 00:41:18,060
 ask us to bring this to motion it's for work session so we're gonna take back

456
00:41:18,060 --> 00:41:34,920
 feedback okay I would say half not a hundred percent I understand I take your

457
00:41:34,920 --> 00:41:41,960
 point on that but half is easy right so if you if you go out because you know

458
00:41:41,960 --> 00:41:46,800
 you eat what you kill right but there's also underlying support staff etc etc

459
00:41:46,800 --> 00:41:51,620
 that they go into there ultimately the goal is to you know benefit the to bring

460
00:41:51,620 --> 00:41:55,920
 in businesses that benefit the general fund so I would say if they bring in a

461
00:41:55,920 --> 00:42:00,920
 hundred bucks they get fifty back and you know in addition to the regular

462
00:42:00,920 --> 00:42:06,440
 apartment and then fifty goes into the general percentage right but also dollars

463
00:42:06,440 --> 00:42:10,640
 if you're on a hundred bucks if he goes back into the catalyst fund fifty goes

464
00:42:10,640 --> 00:42:17,960
 into the general it's hard for me to get comfortable with 100% okay because then

465
00:42:17,960 --> 00:42:21,640
 you got to track it then you don't have it in the methodology okay we hit 9

466
00:42:21,640 --> 00:42:26,880
 million woke that's in the out years right so it's 100% until some point in

467
00:42:26,880 --> 00:42:31,520
 time and it's not and it just kind of clunky for me I'm late and I don't know

468
00:42:31,520 --> 00:42:37,480
 if Brittany cover this or not but the expiring incentives if 100% or whatever

469
00:42:37,480 --> 00:42:41,440
 percent you want to go to catalyst fund it will just go back into the general

470
00:42:41,440 --> 00:42:48,280
 fund not be dedicated to economic development these like the waste is

471
00:42:48,280 --> 00:42:52,480
 structured right now it just falls off and then as if it's reallocated into the

472
00:42:52,480 --> 00:42:59,920
 total general first of all this is one of those moments where I get to say I

473
00:42:59,920 --> 00:43:04,480
 agree with everything that's been said the gist is it doesn't have to be a

474
00:43:04,480 --> 00:43:11,760
 percent or 0% correct yes but if I wanted to just clarify though staying in

475
00:43:11,760 --> 00:43:15,760
 the general fund it doesn't stay in economic developments budget it could

476
00:43:15,760 --> 00:43:22,720
 potentially be reallocated to parks or to public safety it's we haven't had a

477
00:43:22,720 --> 00:43:26,040
 plan or a process for when those incentives fall off of where that

478
00:43:26,040 --> 00:43:29,640
 funding goes so one recommendation was it could continue to go into the

479
00:43:29,640 --> 00:43:33,880
 catalyst fund to help go directly back to economic development or it could go

480
00:43:33,880 --> 00:43:38,840
 into redistribution of whatever city needs are well I think I agree most

481
00:43:38,840 --> 00:43:44,800
 strongly with this to sort of build a budget first that has solid

482
00:43:44,800 --> 00:43:53,360
 assumptions you know I don't really know you know ought to try to create 50

483
00:43:53,360 --> 00:43:56,040
 million dollars you know which case was like well at least this drop in the

484
00:43:56,040 --> 00:43:59,800
 bucket at least it gets it's probably there I just don't know so there's a

485
00:43:59,800 --> 00:44:06,120
 process to develop a budget and that really ought to govern what we make in

486
00:44:06,120 --> 00:44:11,320
 certain priorities this is really just about specifically guiding a revenue

487
00:44:11,320 --> 00:44:19,000
 stream but you know it's I guess I'm often troubled by this idea of dedicated

488
00:44:19,000 --> 00:44:24,160
 revenue streams that are independent of a plan I'll just this is a bit of a

489
00:44:24,160 --> 00:44:28,960
 sidetrack but I'll just give it as an example several years back in a

490
00:44:28,960 --> 00:44:32,800
 situation where we're still the situation where a half-cent of sales tax

491
00:44:32,800 --> 00:44:38,080
 goes to DCTA whether they do a good job or a bad job whether anybody hides it or

492
00:44:38,080 --> 00:44:43,720
 not and you know the funding kept going up because sales tax was going up it

493
00:44:43,720 --> 00:44:48,520
 didn't have any relationship at all to public transportation planning so that's

494
00:44:48,520 --> 00:44:52,640
 the kind of thing where we need to divorce you know the idea of a dedicated

495
00:44:52,640 --> 00:44:57,440
 revenue stream you divorce it from a plan that you have conviction about you

496
00:44:57,440 --> 00:45:01,720
 know I think you don't get optimal results so yeah that had been said

497
00:45:01,720 --> 00:45:05,760
 without knowing what a real number is that we ought to be going for because

498
00:45:05,760 --> 00:45:09,560
 this is what we want to accomplish this is what it costs to get there you know I

499
00:45:09,560 --> 00:45:16,280
 share the mayor's inclination to say we have a lot of really pressing needs this

500
00:45:16,280 --> 00:45:22,200
 is an important one and also people are you know surprisingly people didn't like

501
00:45:22,200 --> 00:45:28,560
 having the taxes go up go figure and we hear from from senior staff constantly

502
00:45:28,560 --> 00:45:33,120
 that like budget so tight it squeaks you know we have first responder needs and

503
00:45:33,120 --> 00:45:37,520
 just you know the economic development is supposed to help with that too so

504
00:45:37,520 --> 00:45:43,080
 some of this and that without knowing what a real number is I'm inclined to

505
00:45:43,080 --> 00:45:57,600
 love you too a real number that we ought to be trying to hit I think the

506
00:45:57,600 --> 00:46:01,800
 board retreat will help clarify what other funding we can request in the

507
00:46:01,800 --> 00:46:05,600
 future from the general fund or other sources of revenue from the city but

508
00:46:05,600 --> 00:46:09,240
 this is just one source that we can pull to ensure that we will have funds

509
00:46:09,240 --> 00:46:14,440
 moving forward I love that and I think one piece to just say is because we've

510
00:46:14,440 --> 00:46:19,880
 not ever had a dedicated funding source for economic development it was used

511
00:46:19,880 --> 00:46:24,480
 recently last year for engine tech for the headquarters grant so we're just

512
00:46:24,480 --> 00:46:28,640
 getting into that position of being able to offer something other than sales tax

513
00:46:28,640 --> 00:46:32,920
 or property tax rebates so I do agree there needs to be a plan on what we

514
00:46:32,920 --> 00:46:37,920
 could use this for it's just kind of a we've had no cash funding source what

515
00:46:37,920 --> 00:46:44,120
 potential way could we get dedicated reference maybe I want this here and

516
00:46:44,120 --> 00:46:51,320
 everybody is we like the idea we're not sold on the percent so discussion on

517
00:46:51,320 --> 00:46:56,760
 that like what the yeah we go to council because one of the things was it can't

518
00:46:56,760 --> 00:47:02,100
 be an automatic for the roll-off it needs to be a council consideration

519
00:47:02,100 --> 00:47:10,520
 annually with what the budget looks like Christine just so I can track along and

520
00:47:10,520 --> 00:47:14,760
 forgive me for not but give it give that to me again so the question before us is

521
00:47:14,760 --> 00:47:20,340
 what so because my register's pitch was for the catalyst fund when it was

522
00:47:20,340 --> 00:47:24,520
 brought forward she'd like to see incentives are budgeted right now in the

523
00:47:24,520 --> 00:47:29,400
 economic development budget for what we've approved in the past so Bucky's is

524
00:47:29,400 --> 00:47:35,040
 one of them when they expire instead of letting that revenue just go back into

525
00:47:35,040 --> 00:47:39,160
 the general fund for distribution that we take that portion and stick it

526
00:47:39,160 --> 00:47:43,740
 straight in the catalyst fund to build up having cash available for future

527
00:47:43,740 --> 00:47:48,600
 economic development which which portion so and forgive me so so Bucky's we gave

528
00:47:48,600 --> 00:47:54,800
 100 bucks let's say for 10 years we get to 10 years

529
00:47:54,800 --> 00:48:01,800
 dollars instead of it falling off and we go to the catalyst fund got it okay well

530
00:48:01,800 --> 00:48:07,520
 you said was 50/50 yeah $50 is that what you yeah yeah yeah because I think what

531
00:48:07,520 --> 00:48:11,040
 yes because I think by the time you've had something for 10 years you should

532
00:48:11,040 --> 00:48:15,080
 have established a larger tax base and you should be contributing at a rate

533
00:48:15,080 --> 00:48:21,360
 such that you're you know you're refilling your own bucket and you don't

534
00:48:21,360 --> 00:48:29,440
 need that that money for other businesses to take the spot so you can

535
00:48:29,440 --> 00:48:32,840
 have a domino effect yeah is what they're saying is that right yes to

536
00:48:32,840 --> 00:48:39,960
 reinvest in another close to a declining domino effect but I think that I think

537
00:48:39,960 --> 00:48:47,440
 what I'm hearing is they don't want to in this example they get $100 until 10

538
00:48:47,440 --> 00:48:54,080
 years let's say whatever year year 10 or year 11 $100 in the current scenario

539
00:48:54,080 --> 00:48:59,320
 goes to general fund it just rolls over goes to the general fund we're saying is

540
00:48:59,320 --> 00:49:04,240
 some portion of that the proposal is a hundred percent hundred dollars goes

541
00:49:04,240 --> 00:49:09,600
 into catalyst what the two gentlemen on council are saying is I agree with that

542
00:49:09,600 --> 00:49:15,400
 it's $50 of the hundred dollars it's $80 of the hundred dollars it's whatever we

543
00:49:15,400 --> 00:49:21,120
 decide but it shouldn't necessarily just be automatic but up for if we talked

544
00:49:21,120 --> 00:49:25,240
 about structuring where it's an annual evaluation so you're able to see hey

545
00:49:25,240 --> 00:49:30,000
 Bucky's hundred thousand dollar incentive is going to roll off would we

546
00:49:30,000 --> 00:49:34,520
 like to put all of it or a portion of it in catalyst fun you could make it an

547
00:49:34,520 --> 00:49:41,060
 annual conversation and not it's not an increase it's just keeping what you have

548
00:49:41,060 --> 00:49:46,460
 and then you have Bucky's that all goes back on so it just gives you an

549
00:49:46,460 --> 00:49:51,260
 opportunity to go find another fish to bring in the boat and and have it's

550
00:49:51,260 --> 00:49:56,840
 another 10-year plan to generate the future so it's it's it's kind of just

551
00:49:56,840 --> 00:50:01,000
 rinse and repeat a little bit you're not it's not adding more money to it you're

552
00:50:01,000 --> 00:50:04,760
 just you're just not using it here anymore because it's that investment

553
00:50:04,760 --> 00:50:09,600
 paid off you got it back now it's on the books for the full years 11 and on and

554
00:50:09,600 --> 00:50:14,400
 everything else now I want to go find another one yeah I think where I get

555
00:50:14,400 --> 00:50:19,200
 hung up and maybe somebody can help me just that the the static nature of it

556
00:50:19,200 --> 00:50:22,560
 it's it's so unique especially if you're going after right it's it's gonna be a

557
00:50:22,560 --> 00:50:26,480
 Bucky's it's gonna be an engine tech it's gonna be a something else right it's

558
00:50:26,480 --> 00:50:32,240
 it's so erratic that I don't know that that that same hundred bucks that we're

559
00:50:32,240 --> 00:50:36,880
 in this example for Bucky's then you don't get another Bucky's or there's

560
00:50:36,880 --> 00:50:41,160
 another thing that needs a hundred bucks and at the same time the math that an

561
00:50:41,160 --> 00:50:46,720
 accountant for how much you've increased maybe that's maybe that's my hangup is

562
00:50:46,720 --> 00:50:53,960
 over those ten years of that incentive where all that money went to the general

563
00:50:53,960 --> 00:50:58,080
 fund maybe that's where my hangup is yeah you know so maybe it's not so much

564
00:50:58,080 --> 00:51:02,920
 the hundred bucks it's more you know you've you would you kill right you're

565
00:51:02,920 --> 00:51:07,840
 100% commission mindset right so like over that 10 years you invested in

566
00:51:07,840 --> 00:51:11,160
 something it should have paid dividends and if you want to talk about those

567
00:51:11,160 --> 00:51:16,840
 dividends going back into the part great but this hundred bucks we had you know

568
00:51:16,840 --> 00:51:20,400
 you don't get the whole thing back right like you you I think you have to

569
00:51:20,400 --> 00:51:25,360
 incentivize people like if you you incentivize Bucky's and you miss then

570
00:51:25,360 --> 00:51:33,480
 that affects your budget I think it's a one-year it's a one-year deal that you're

571
00:51:33,480 --> 00:51:36,520
 talking it's gotta be renewed it's gotta be reviewed by City Council for one

572
00:51:36,520 --> 00:51:40,960
 year so let's just go ahead sorry so if that hundred percent does start to

573
00:51:40,960 --> 00:51:44,280
 accumulate not used in the manner that I mean ultimately they've got to prove

574
00:51:44,280 --> 00:51:48,040
 what it's gonna use for anyway right correct yeah it's a two-fold what

575
00:51:48,040 --> 00:51:52,520
 revenue would you like to be in the pot and the other piece that we might be

576
00:51:52,520 --> 00:51:59,840
 missing is that so Bucky's they're contributing you know what $60,000 a

577
00:51:59,840 --> 00:52:03,240
 month and sales tax our current agreement with them is we're rebating

578
00:52:03,240 --> 00:52:09,200
 them 50% of that back to them 30 years 25 years whatever it is so we budget we

579
00:52:09,200 --> 00:52:12,000
 have to budget that as an expense so we're saying when that agreements done

580
00:52:12,000 --> 00:52:16,560
 we're gonna continue to receive $60,000 a month and sales tax from them but

581
00:52:16,560 --> 00:52:20,120
 we're no longer going to rebate what do we want to do with that rebate money do

582
00:52:20,120 --> 00:52:24,640
 we want to reinvest it and being more competitive having cash because we're

583
00:52:24,640 --> 00:52:29,120
 always gonna have the tools where you can do the property tax or the sales tax

584
00:52:29,120 --> 00:52:34,080
 rebates those will always exist but we have seen instances where if we're

585
00:52:34,080 --> 00:52:37,840
 trying to relocate a headquarters they may need a cash incentive or there might

586
00:52:37,840 --> 00:52:40,800
 be another reason to make us more competitive so the way I see it it's

587
00:52:40,800 --> 00:52:44,600
 like with the conversation now with my kids a little bit is we so you get X

588
00:52:44,600 --> 00:52:48,640
 amount of dollars and that you're you're getting a return off of and you can

589
00:52:48,640 --> 00:52:53,160
 either go buy video games or you can reinvest it and I think we put in this

590
00:52:53,160 --> 00:52:57,760
 catalyst fund it's it's slotted for future reinvestment you still have to

591
00:52:57,760 --> 00:53:02,200
 approve that but at least it's in that for future more revenue down the road

592
00:53:02,200 --> 00:53:05,720
 it's kind of way I look at it I think we talk a lot about the economic

593
00:53:05,720 --> 00:53:10,120
 development toolkit what do we have that Brittany and the team can insist and

594
00:53:10,120 --> 00:53:13,680
 drive people to come here this makes us more competitive because if we're able

595
00:53:13,680 --> 00:53:18,120
 to grow the catalyst fund when a company comes to us it's one of the

596
00:53:18,120 --> 00:53:22,960
 various tools we can pull out and assist in the process because we lose often in

597
00:53:22,960 --> 00:53:26,840
 the competitive nature of the game because we don't have that happy so this

598
00:53:26,840 --> 00:53:31,360
 would equip us with a fund that enables this board to make recommendations out

599
00:53:31,360 --> 00:53:35,320
 of and continues to feed back for the hard work of this board's efforts to

600
00:53:35,320 --> 00:53:39,400
 contribute to that but it certainly could be structured for the marriage

601
00:53:39,400 --> 00:53:43,560
 point when we talk to council that we're not going to say straight percentages

602
00:53:43,560 --> 00:53:48,240
 that it's an annual evaluation based off of what the general fund looks like

603
00:53:48,240 --> 00:53:54,680
 what's expiring where the catalyst fund is there's a lot of decision factors on

604
00:53:54,680 --> 00:53:57,880
 how it could be structured but this was to get the feedback on what do you like

605
00:53:57,880 --> 00:54:02,600
 or not like before it goes to council for it just so I can get my head around

606
00:54:02,600 --> 00:54:09,120
 it I'm tracking with you and my question though is so pre Bucky's our sales tax

607
00:54:09,120 --> 00:54:20,120
 was $60,000 per month less now we have this new $60,000 per month yes we give

608
00:54:20,120 --> 00:54:26,280
 them half back so that's 30 so brand new found money what percentage of that is

609
00:54:26,280 --> 00:54:34,560
 going to the catalyst that's my problem it's found money we were bankroll in the

610
00:54:34,560 --> 00:54:39,960
 city as is right like the budget is solid we got it we're good we found

611
00:54:39,960 --> 00:54:45,520
 $30,000 brand-new let's say there's some set of that that's cost right let's cut

612
00:54:45,520 --> 00:54:51,520
 that in half so that's $15,000 profit quote-unquote that we brand new money

613
00:54:51,520 --> 00:54:56,600
 we found that money should go to the catalyst fund right but what they're

614
00:54:56,600 --> 00:55:02,760
 saying is they're not the decision is not now on the 30th the decision is in

615
00:55:02,760 --> 00:55:07,380
 however many years when it goes back to 60 what we're doing with the incremental

616
00:55:07,380 --> 00:55:14,320
 30 correct and my point is I want that money to go half of it to go back into

617
00:55:14,320 --> 00:55:21,080
 the general because you've benefited ten years of some increment of the city has

618
00:55:21,080 --> 00:55:25,160
 yes not the catalyst fund no I'm saying the catalyst fund should get some of

619
00:55:25,160 --> 00:55:30,480
 that too that's not getting any of the no it's getting nothing so that's my

620
00:55:30,480 --> 00:55:34,880
 problem so I think there's two changes right there's there's one before us today

621
00:55:34,880 --> 00:55:39,800
 and there's I mean yeah the budget thing is that's that's that's every right you

622
00:55:39,800 --> 00:55:44,640
 never I don't get the you don't get the income for a future council so you start

623
00:55:44,640 --> 00:55:49,200
 over every year that no matter what you do I don't care what anyone says that

624
00:55:49,200 --> 00:55:52,840
 that you have to redo it every year everything you know that that's just

625
00:55:52,840 --> 00:55:56,560
 that's a council prerogative and you don't get the income for a future

626
00:55:56,560 --> 00:56:02,340
 council so outside of contractual obligations no no you most will write in

627
00:56:02,340 --> 00:56:07,120
 the contract that we can get out like the electricity stuff all that well

628
00:56:07,120 --> 00:56:15,540
 electricity you're in comfort on your bombs I guarantee you look I'm off

629
00:56:15,540 --> 00:56:24,640
 track like we're gonna get 30 for 10 years that and you're saying you're

630
00:56:24,640 --> 00:56:30,040
 gonna net 15 after expenses or whatever that's time money too give that to me

631
00:56:30,040 --> 00:56:35,760
 give it it's I guess that's new money because Bucky's came into town the first

632
00:56:35,760 --> 00:56:43,320
 30 the other 30 they're getting a rebate on okay mm-hmm so then you go along now

633
00:56:43,320 --> 00:56:46,960
 it goes to 60 both of them all we're saying is the piece that the city never

634
00:56:46,960 --> 00:56:52,960
 got just that goes to the catalyst they never got that's what this is saying so

635
00:56:52,960 --> 00:56:56,800
 right now you're getting 30 you should be getting 60 if there was no incentive

636
00:56:56,800 --> 00:57:01,680
 at all but there's no incentive at all you'd get 60 right we're getting no

637
00:57:01,680 --> 00:57:19,680
 that's not the city has said Bucky's you can keep 30 and we keep 30 this is

638
00:57:19,680 --> 00:57:27,180
 saying instead of when that goes off instead of it now it's 60 but instead of

639
00:57:27,180 --> 00:57:36,080
 it being 62 the Bucky's is gonna pay 60 they're gonna pay 60 instead of 30 the

640
00:57:36,080 --> 00:57:40,520
 general fund will be getting 60 right now the general funds getting 30 because

641
00:57:40,520 --> 00:57:47,440
 that's where it all goes the other 30 will go to catalyst yeah or get over

642
00:57:47,440 --> 00:57:53,080
 some portion of so we are not voting on this yeah and I don't know that we've

643
00:57:53,080 --> 00:58:01,360
 held from a recommendation so yes so from the recommendation are we

644
00:58:01,360 --> 00:58:11,240
 comfortable saying some point up to 100% yeah I said comfortable I don't know

645
00:58:11,240 --> 00:58:26,360
 that I want to talk about it anymore but I just want to point out that if you can

646
00:58:26,360 --> 00:58:32,520
 build a case for a number that we want to hit because here's the level of

647
00:58:32,520 --> 00:58:37,160
 activity that we want to you know I'm saying like in order to get one of these

648
00:58:37,160 --> 00:58:44,000
 and one of those here's what they tend to cost no council can consider as they

649
00:58:44,000 --> 00:58:49,680
 compare that number to every other need no funding so whether or not you have

650
00:58:49,680 --> 00:58:55,040
 dedicated funds if you have a convincing case and it's more pressing than the

651
00:58:55,040 --> 00:59:00,760
 last police hire a fire you know arts etc you know it's always a balancing act

652
00:59:00,760 --> 00:59:10,000
 but this it doesn't prevent nothing we do with this prevents us from funding

653
00:59:10,000 --> 00:59:19,720
 any number to say thank you it's not good conversation long conversation all

654
00:59:19,720 --> 00:59:25,560
 right now we go into staff reports is that accurate

655
00:59:30,760 --> 00:59:50,280
 we were invited by the Texas Economic Development Division this year and so typically it's they invite select cities to participate and so

656
00:59:50,280 --> 01:00:17,280
 was able to be featured in this we were very excited to even have the opportunity to attend so Mayor Hussbett attended and so did Brian Hatmaker the CEO of Sultz and as a reminder Sultz was one of our recruitment projects from last year and they're very excited to be in Denton so I thought that was a great opportunity for him to be able to meet Greg Abbott and his staff made those shirts jobs and growth made in Texas so they're very excited and I know they're going to join the chamber right are you going to join the chamber?

657
01:00:17,280 --> 01:00:24,280
 we got the largest box of merchandise we have Jamie got a whole new wardrobe

658
01:00:24,280 --> 01:00:31,280
 they're a great company once he Brian Hatmaker arrives I was really excited to have him here

659
01:00:31,280 --> 01:00:36,280
 also we were featured in the news for H-E-B apparently they're going to Argyle

660
01:00:36,280 --> 01:00:46,280
 I don't know if you read the Facebook comments but there was confusion on where it would be located because the city limits of Denton and Argyle but it is a mystery where is our Denton

661
01:00:46,280 --> 01:01:03,280
 I wanted to share our Facebook statistics off of our post we had over 229,000 views and a breach of 88,000 and 737 interactions that's the most we've ever had that was great news for Denton that it was getting around on the social media

662
01:01:03,280 --> 01:01:23,280
 it was an opportunity for entrepreneurs to ask questions on how to start the business and just general business 101 questions and we felt the panel did a great job

663
01:01:23,280 --> 01:01:36,280
 we also assisted UNT with our strategic planning focus group we wanted to meet with industry partners and we worked closely with Jamie Adams at the EDT so we had quite a few of you attended thank you so much for representing the economic development partnership board

664
01:01:36,280 --> 01:01:43,280
 UNT really did appreciate your feedback and we look forward to fostering that relationship with them

665
01:01:43,280 --> 01:01:50,280
 we also attended Verticon at the aviation conference this year they held it in Dallas so our team was able to go out and represent Denton

666
01:01:50,280 --> 01:01:59,280
 we got a few good leads we have two serious leads that are looking to move out to the airport so we're working on finding them a site right now and seeing what incentives we can provide them

667
01:01:59,280 --> 01:02:06,280
 Matilda attended the LogX conference in Bristol in partnership with UNT as well

668
01:02:06,280 --> 01:02:21,280
 so partner visits collaboration a lot of our time goes to partnering with other organizations and seeing how they're operating and our efforts so we're working with the airport on a UAS feasibility study

669
01:02:21,280 --> 01:02:34,280
 we're looking to see if a vertiport is feasible for the city of Denton and where that would be located so UNT is completing that research for us so we hope to be able to start landing UAS companies in the near future

670
01:02:34,280 --> 01:02:43,280
 Matilda went to a library small business connections event leadership did an arts and culture day where Matilda also presented

671
01:02:43,280 --> 01:02:52,280
 the team went to VFW women in economic development meetups and one of our staff attended the EDT AI investor forum that Jamie put on

672
01:02:52,280 --> 01:03:10,280
 planning Kristen attended the PEDC basic economic development course so we only have one more staff member that needs to attend and that's Clay so he'll attend this summer and Erica attended a few webinars housing updates from Washington, the ERZ handbook webinar and SDR artificial intelligence for economic development

673
01:03:10,280 --> 01:03:26,280
 We have a total of 29 active projects that we're working on that is way more than what we had last year and I wish I had statistics from the previous year Brian but I do not know that you asked last time how to compare it

674
01:03:26,280 --> 01:03:36,280
 out of those 29 active projects 14 are downtown specific

675
01:03:36,280 --> 01:03:40,280
 we're competing against ourselves on this one by the way

676
01:03:40,280 --> 01:03:47,280
 Do 14 projects go downtown or is that yeah 14 going for eight spaces?

677
01:03:47,280 --> 01:04:16,280
 So we call active projects any business that we're assisting so they could be in the business permitting stage and they're asking for inspiration but they're trying to do permitting or generally just business advice a lot of our time goes to helping businesses navigate their city processes so for instance development services that can be very overwhelming for a small business especially when you get to the fire suppression part because often times they're shocked that it costs so much and that's a requirement to actually get their CO

678
01:04:16,280 --> 01:04:20,280
 so a lot of our time goes to helping businesses

679
01:04:20,280 --> 01:04:35,280
 We're trying to track where our active projects are in different stages so we have a percentage and then we also have the pre-percentage so if they are in the percentages that means they are actively looking at relocating or expanding in

680
01:04:35,280 --> 01:04:49,280
 So in the permitting process we're assisting three of those businesses in the initial discussion phase there's a lot of those

681
01:04:49,280 --> 01:05:00,280
 5% are in the lead stage so we know that they are serious about moving here and we're helping them again to see if they would qualify for the next stage

682
01:05:00,280 --> 01:05:07,280
 10% work on qualification and that we're examining what incentives that they qualify for we may be finding a site for them

683
01:05:07,280 --> 01:05:16,280
 30% indicate that they have selected a site and there's four in that process and four are in the antenna negotiation process

684
01:05:16,280 --> 01:05:35,280
 So moving down here we received four antenna applications in March and May which is very outstanding I feel for our team we've been hitting the ground running all of our team members are at full capacity and focusing on recruitment so we were really shocked to receive four antenna applications in one week

685
01:05:35,280 --> 01:05:46,280
 But two of those are expansions, those are local expansions and two are recruitment companies looking to move to them and then we also hosted four recruitment visits with manufacturers

686
01:05:46,280 --> 01:06:00,280
 So one of those we had a last minute tour that was able to schedule for us, thank you Brian for getting us in, I know that was very last minute but that was a lead from the Dallas Regional Chamber

687
01:06:00,280 --> 01:06:11,280
 So it was for a medical device manufacturer and we're hoping that in the near future that they'll follow up with us so that we can land them here

688
01:06:11,280 --> 01:06:30,280
 I was going to say if y'all need that, just give me a call. I will say they were very impressed and the Dallas Regional Chamber representative was very impressed with the tour and they especially liked the fact that we were able to get in so fast so that speaks volumes about our relationship so thank you

689
01:06:30,280 --> 01:06:46,280
 Jamie Adams also helped out as well. RFIs are requests for information and the way that we separate these RFIs from other leads is these are leads that are coming in from the governor's office and the Dallas Regional Chamber

690
01:06:46,280 --> 01:07:01,280
 So we know that those leads coming in, they haven't selected Denton specifically but they have selected Texas and so that is why the companies will reach out to you both with entities first and it's our job once we get the emails to respond and so they're asking for specific site requirements

691
01:07:01,280 --> 01:07:17,280
 They share the capital investment numbers and something they want to know about incentives and so for Sena Davis, first one to respond to the RFIs that's her primary goal and she has been doing such a great job because we've received about 29 RFIs just for February and March

692
01:07:17,280 --> 01:07:37,280
 and she submitted 12 and I'm sorry she did not submit on 12 and that's probably based on we didn't meet the utilities before, we didn't have a site to submit but she did submit 13 and she was able to convert two for lead conversion so two of those RFIs actually those companies reached that back out for a site tour

693
01:07:37,280 --> 01:07:47,280
 So she didn't have a lot but it's actually major for those RFIs because you never know when to submit those proposals if they're going to respond or not so that's major

694
01:07:47,280 --> 01:08:03,280
 And we also, from the state they are, whenever they are talking about the DFW they are throwing Denton's name out there and that's helping us a lot too because we've heard from the companies that they said oh Denton's a great place to be and we asked them well how did you hear about Denton? This is an East Coast company

695
01:08:03,280 --> 01:08:08,280
 And they said from the governor's office so that's very helpful

696
01:08:08,280 --> 01:08:21,280
 So from those leads, the Dallas Regional Chambers sent us three and the governor's office sent us 26. The average capital investment of those RFIs is $222 million and the average jobs is $313 million

697
01:08:21,280 --> 01:08:28,280
 And for the calendar year, Christina has submitted 21 total RFIs

698
01:08:28,280 --> 01:08:40,280
 Recruitment strategy for downtown, Jeremy I know that you asked this last time is how are we addressing the vacancies? It's Andes and Barley and board closing down and so we do have a recruitment strategy

699
01:08:40,280 --> 01:08:49,280
 What we are focusing on for downtown is our existing target, retail and entertainment, diversified housing, the master plan calls for 50% of downtown

700
01:08:49,280 --> 01:09:03,280
 We know there's multifamily going up but now our focus is to bring some type of diversified housing, townhomes for example, we don't have townhomes so we're looking at identifying sites, how can we bring those developers in, what are the challenges to also develop townhomes

701
01:09:03,280 --> 01:09:19,280
 Childhood projects, we know that we have City Hall West, that's one of our focuses for this year and so we do have a few developers interested in that site that will contact us ever so often so that will go hopefully the next year or so depending on city management, right?

702
01:09:19,280 --> 01:09:35,280
 And to see if we can find a developer to come in, growing existing businesses, a lot of those food trucks, I know food trucks is a hot conversation right now at council level, we want them to be eventually open up a brick and mortar and so we're trying to find ways to support them

703
01:09:35,280 --> 01:09:51,280
 We're also evaluating our downtown reinvestment grant, our CURS funds, so we can also support that development too, so we're engaging our other three downtown boards, we have the downtown economic development committee, our CURS one board and also our indirect board

704
01:09:51,280 --> 01:10:19,280
 This will be super fast, we had three film permits issued here today up until the end of March, so I've actually gotten in some in April early commercial film permits

705
01:10:19,280 --> 01:10:41,280
 I don't count student films in that, I also had three more student projects here today and then we've been going on music venue site tours with Discover Denton, our economic development staff, just to make sure we know who's here and what we have so that we can better promote and advertise what we have

706
01:10:41,280 --> 01:11:07,280
 And then you may have heard of Rihanna Nix is on American Idol right now, she's from Denton, they contacted me this summer if they get to shoot some B-roll for American Idol, but I didn't know who it was, so this is exciting and she's still in the top 24 now I believe as of today

707
01:11:07,280 --> 01:11:17,280
 There was a lot of opportunity here at Discover Denton and our other partners because tourism is important for the city, but we know that goes hand in hand with economic development

708
01:11:17,280 --> 01:11:38,280
 There's a great turnout, Christina Davis has been promoting this in addition with The Chamber and United Way, so I'm glad that there's a great turnout, if you want to stop by after feel free to do

709
01:11:38,280 --> 01:11:54,280
 Kristin and Michele are putting together a downtown master class on April 15th from 9 to 10 a.m. at the Development Services Building, so they will be reviewing the Downtown Request a Grant program and also the Resort We Back to Credit program

710
01:11:54,280 --> 01:11:58,280
 So I'm going to call in the students

711
01:11:58,280 --> 01:12:02,280
 No, no, we're solving the world's problems

712
01:12:02,280 --> 01:12:10,280
 The Downtown Property Owners Meeting, we are exploring the creation of a whole improvement district for downtown

713
01:12:10,280 --> 01:12:15,280
 This is a recommendation in our strategic plan or downtown master plan

714
01:12:15,280 --> 01:12:28,280
 And so we've held an initial meeting with property owners and we've submitted surveys to get their feedback to see if they would be participating and if they were interested in participating, what would they potentially find

715
01:12:28,280 --> 01:12:35,280
 We have a follow-up meeting on April 29th at 12 p.m. at the Denton Service Center

716
01:12:35,280 --> 01:12:46,280
 If you have any questions on that, let me know, but we are exploring it

717
01:12:46,280 --> 01:12:54,280
 So our two questions. Matilda, did you get any feedback from those that have filed applications for films?

718
01:12:54,280 --> 01:12:58,280
 Like what they liked or what was good, bad, and different

719
01:12:58,280 --> 01:13:06,280
 And then second question is are we considering and adding in the UNT venues when we say we have these venues available

720
01:13:06,280 --> 01:13:10,280
 Because I think that's an underutilized asset we have

721
01:13:10,280 --> 01:13:14,280
 First question, film feedback. I asked for some feedback

722
01:13:14,280 --> 01:13:21,280
 I redid our application process this summer to better align with our ordinance for filming in Denton

723
01:13:21,280 --> 01:13:28,280
 And so I did ask for some feedback from local filmmakers and from past permittees

724
01:13:28,280 --> 01:13:35,280
 Didn't get a lot of response back, but the response I did receive was good

725
01:13:35,280 --> 01:13:39,280
 And then second question, UNT venues

726
01:13:39,280 --> 01:13:52,280
 As of right now, we've started with the first four that we're touring are the venues that received that state alcohol sales tax rebate last year

727
01:13:52,280 --> 01:13:56,280
 And then we're going to move on to some live music establishments

728
01:13:56,280 --> 01:14:02,280
 And then I can definitely add the UNT venues to the list. I hadn't thought of that, so I appreciate the comment

729
01:14:02,280 --> 01:14:07,280
 Yeah, I had a tour. It's pretty robust. They have some really cool options

730
01:14:07,280 --> 01:14:12,280
 And they're willing to partner. I talked to the dean there, we're friends, and so I got a tour

731
01:14:12,280 --> 01:14:19,280
 And feel really good about the options available to us if we want to direct people their way of leverage or pull them in

732
01:14:19,280 --> 01:14:21,280
 So they'd be very receptive

733
01:14:21,280 --> 01:14:27,280
 And sorry, if I may, you visited, the mayor visited a film set with me this summer and it was pretty fun

734
01:14:27,280 --> 01:14:32,280
 But while I didn't hear back about the specifically permit process

735
01:14:32,280 --> 01:14:41,280
 I have been having follow-up meetings and calls with a lot of the commercial projects that come through just to see how I can better improve and what else we can do

736
01:14:41,280 --> 01:14:48,280
 And that specific one is not out yet, but I really hope to see it because that was fun bringing you along

737
01:14:48,280 --> 01:14:52,280
 Yeah, excellent. Thank you

738
01:14:52,280 --> 01:15:02,280
 Maybe we've got to do this with the commission and everything just to comment would be on even these slides or you know, we're talking about people who have incentives

739
01:15:02,280 --> 01:15:07,280
 You had one that, hey, we've got three applications for a 50% incentive

740
01:15:07,280 --> 01:15:17,280
 Just that whole advertising to that one number, what does that mean? If we get it, right, that's $120,000 in revenue

741
01:15:17,280 --> 01:15:23,280
 Or whatever, right, like of tax, because it all ties back to that mission statement of we're trying to grow the tax base

742
01:15:23,280 --> 01:15:30,280
 So we ought to, once we get to a certain point, I probably shouldn't do that for every lead because that's kind of a, it's very speculative

743
01:15:30,280 --> 01:15:42,280
 But once you get into that maybe site visit into applications for incentives, that would be good to kind of know, hey, this is the potential for this much revenue

744
01:15:42,280 --> 01:15:48,280
 [inaudible]

745
01:15:48,280 --> 01:15:55,280
 But to me it's like we need to develop the discipline to have a number, right, like what's this board tracking?

746
01:15:55,280 --> 01:16:00,280
 We got this one number and it's tax revenue or whatever, right

747
01:16:00,280 --> 01:16:08,280
 All the other stuff is nice, but it's to the, at the end of the day, it's like for a couple of those, right

748
01:16:08,280 --> 01:16:10,280
 But not an increase in tax base

749
01:16:10,280 --> 01:16:17,280
 Yeah, yeah, you've got, you've got four there, they've got a 50% tax incentive negotiation

750
01:16:17,280 --> 01:16:25,280
 That's, that's zero to $200,000 in tax revenue for now, depending on how it goes, right

751
01:16:25,280 --> 01:16:26,280
 Potential revenue

752
01:16:26,280 --> 01:16:28,280
 Yeah, potential revenue, right

753
01:16:28,280 --> 01:16:33,280
 That's on our to-do list, Brian, it's just we got a new CRM database and so it's still kind of finicky

754
01:16:33,280 --> 01:16:41,280
 And so every time we log on or report there's something wrong with it, so nothing wrong with this CRM, but we're, that's our goal for next month

755
01:16:41,280 --> 01:16:43,280
 Okay, good

756
01:16:43,280 --> 01:16:47,280
 Great, any other conversation or reports?

757
01:16:47,280 --> 01:16:53,280
 Alright, I'll accept a, I think I'm supposed to read something, so be ready for this

758
01:16:53,280 --> 01:16:54,280
 I'm sorry, Steve

759
01:16:54,280 --> 01:17:00,280
 Does the board have any other business to discuss, they wish to discuss in the next meeting?

760
01:17:00,280 --> 01:17:04,280
 We've got to get Main Street from here

761
01:17:04,280 --> 01:17:06,280
 Alright, here we go

762
01:17:06,280 --> 01:17:08,280
 Ready to go

763
01:17:08,280 --> 01:17:16,280
 Take your time

764
01:17:30,280 --> 01:17:34,280
 [inaudible]

765
01:17:34,280 --> 01:17:39,280
 Main Street is a preservation-based organization for economic development

766
01:17:39,280 --> 01:17:43,280
 And our four points are economic vitality design, organization promotion

767
01:17:43,280 --> 01:17:49,280
 I'll be giving quarterly updates, I think last year I was giving monthly updates, so we've moved those to quarterly

768
01:17:49,280 --> 01:17:58,280
 So as we kind of move throughout the year, we're going to hone in on what these four points need for meet our preservation-based economic development

769
01:17:58,280 --> 01:18:02,280
 First we're going to start with our downtown reinvestment grant, where we are to date

770
01:18:02,280 --> 01:18:08,280
 As many of you know, we did expand the TURS boundary, and this is the new map that we have

771
01:18:08,280 --> 01:18:15,280
 I did want to keep the old map to see so you could see where the boundary was, and this will be the new, that is the new expanded boundary

772
01:18:15,280 --> 01:18:20,280
 Which will allow for businesses within that new boundary to apply for the downtown reinvestment grant

773
01:18:20,280 --> 01:18:29,280
 As of today, we have four completed and reimbursed grants, Glenham, which is at 116 West Oak

774
01:18:29,280 --> 01:18:33,280
 Their fire suppression is on hold until we can find a tenant

775
01:18:33,280 --> 01:18:42,280
 But we are actively looking and working with the property owner there and the broker to get them a new tenant so they can get their fire suppression

776
01:18:42,280 --> 01:18:48,280
 Worst case scenario is that grant expires in August of 2025 this year

777
01:18:48,280 --> 01:18:53,280
 They can apply for an extension, but we want to make sure we have a tenant in there beforehand

778
01:18:53,280 --> 01:19:01,280
 We did have a Plot Twist downtown reinvestment grant come through to Jettick and TURS on May 25th

779
01:19:01,280 --> 01:19:08,280
 TURS did make a recommendation to Council, so Council will see that on their May 6th consent agenda

780
01:19:08,280 --> 01:19:15,280
 But both of those committees approved for a $35,000 grant for their residents

781
01:19:15,280 --> 01:19:18,280
 And if you haven't been to the Plot Twist, I highly recommend it

782
01:19:18,280 --> 01:19:27,280
 They opened to a large first open day with 784 people, so that was fantastic

783
01:19:27,280 --> 01:19:35,280
 And then, it's news, Fine Arts Theatre has started to break ground on their project, so we're excited for that

784
01:19:35,280 --> 01:19:41,280
 And then they will come in with an additional downtown closing

785
01:19:41,280 --> 01:19:45,280
 Downtown opening and closing, that's a great subject

786
01:19:45,280 --> 01:19:48,280
 We didn't have a Plot Twist open as I mentioned

787
01:19:48,280 --> 01:19:51,280
 The building station did decide to relocate

788
01:19:51,280 --> 01:19:55,280
 Jesse Otta is replaced by Bidus, so we just did a flip flop there

789
01:19:55,280 --> 01:20:00,280
 Unfortunately, Barley and Board did have the highest job loss

790
01:20:00,280 --> 01:20:07,280
 But fortunately, they do have another restaurant going in, Mexican Oak, so they should be in this year

791
01:20:07,280 --> 01:20:12,280
 So we have tables in the embassment

792
01:20:12,280 --> 01:20:16,280
 Four businesses started, four businesses closed

793
01:20:16,280 --> 01:20:24,280
 We gained 22 jobs, but unfortunately we lost 99, but we're hoping to get that back when Mexican Oak opens

794
01:20:24,280 --> 01:20:29,280
 So this is an expansion, one of my major focuses this year

795
01:20:29,280 --> 01:20:34,280
 We want to make sure that the businesses that have invested in downtown stay in downtown

796
01:20:34,280 --> 01:20:37,280
 We're going to have an old adage dance with the one that brought you

797
01:20:37,280 --> 01:20:40,280
 We want to make sure those businesses are happy and that they have what they need

798
01:20:40,280 --> 01:20:46,280
 So I went on all business retention visits, three business expansion visits, and nine developer new business visits

799
01:20:46,280 --> 01:20:54,280
 But one of the best things that we did was we finally got a tour of the Morrison Milling Corn Kits in downtown

800
01:20:54,280 --> 01:20:59,280
 So we're happy to make that connection, and actually they're going to start to get involved with 31 Days of Halloween

801
01:20:59,280 --> 01:21:08,280
 That's their project, 31 Days of Halloween logo on their silo, so we're really excited that we have their partnership now

802
01:21:08,280 --> 01:21:15,280
 Through those business retention and expansion visits, these were the hot topics that came out of those meetings

803
01:21:15,280 --> 01:21:18,280
 Parking, obviously we know that's always a subject

804
01:21:18,280 --> 01:21:26,280
 We are actively working on a solution potentially for employees to park in the NCCC parking garage

805
01:21:26,280 --> 01:21:30,280
 The pilot program, we'll talk about that today

806
01:21:30,280 --> 01:21:35,280
 Of course, there's connectivity, the unhoused population, better wayfinding

807
01:21:35,280 --> 01:21:40,280
 Especially for those businesses that are just off of the square, and then marketing

808
01:21:40,280 --> 01:21:46,280
 I think that's probably the number one is our businesses struggle with how to market and promote themselves

809
01:21:46,280 --> 01:21:53,280
 So we're trying to figure out ways and work with our partner's chamber and main street association on how we can be better at that

810
01:21:53,280 --> 01:21:58,280
 Brittany did mention the Public Improvement District that we had a meeting on January 17th

811
01:21:58,280 --> 01:22:04,280
 We're in the data gathering phase, so we've put a feedback survey out

812
01:22:04,280 --> 01:22:08,280
 We've gathered that feedback and we're going to have this meeting April 29th

813
01:22:08,280 --> 01:22:15,280
 We'll review all of that feedback and kind of see what projects that public governors would be interested in

814
01:22:15,280 --> 01:22:19,280
 If the public improvement district does come

815
01:22:19,280 --> 01:22:24,280
 And then Brittany, we do have the downtown master class

816
01:22:24,280 --> 01:22:28,280
 It's a focus on public preservation and the downtown investment grants

817
01:22:28,280 --> 01:22:35,280
 With downtown being an historic overlay district, historic tax credits are very important to those businesses

818
01:22:35,280 --> 01:22:39,280
 We want to make sure that they are fully well-versed in how to apply for those

819
01:22:39,280 --> 01:22:42,280
 And then we have a downtown safety meeting on Thursday, April 17th

820
01:22:42,280 --> 01:22:46,280
 Which is going to give an update on the downtown ambassador program

821
01:22:46,280 --> 01:22:51,280
 Brittany will be there also to answer any questions that business and property owners may have

822
01:22:51,280 --> 01:22:56,280
 Any questions?

823
01:22:56,280 --> 01:23:03,280
 I just would like to hear from you, and if you don't have it today, in a future date

824
01:23:03,280 --> 01:23:07,280
 It's just been heavy on my mind, like all the protests and everything downtown

825
01:23:07,280 --> 01:23:10,280
 What effect does that have on our businesses?

826
01:23:10,280 --> 01:23:16,280
 They always do it on a Saturday, and Argonne doesn't have this problem

827
01:23:16,280 --> 01:23:22,280
 So it's like I'll just go eat at Cactus Canyon versus some great place in Denton

828
01:23:22,280 --> 01:23:27,280
 You make a good point because of the recent protests that was there on Saturday

829
01:23:27,280 --> 01:23:31,280
 And Boca Police had one

830
01:23:31,280 --> 01:23:37,280
 Surprisingly, those people do stick around downtown and the businesses see an influx

831
01:23:37,280 --> 01:23:43,280
 So it's kind of a catch-22 where you feel like it might hinder the businesses

832
01:23:43,280 --> 01:23:46,280
 Or people coming to downtown

833
01:23:46,280 --> 01:23:51,280
 But those days in particular, people were out about it

834
01:23:51,280 --> 01:23:56,280
 I know that sounds odd, but they...

835
01:23:56,280 --> 01:23:58,280
 Protesters gotta eat

836
01:23:58,280 --> 01:23:59,280
 Right, right

837
01:23:59,280 --> 01:24:02,280
 And so they were protesting, but they didn't spend money downtown

838
01:24:02,280 --> 01:24:07,280
 We're in a lot of calories

839
01:24:07,280 --> 01:24:09,280
 That's right, I just wasn't sure

840
01:24:09,280 --> 01:24:12,280
 I didn't know the answer, I wasn't seeking it

841
01:24:12,280 --> 01:24:17,280
 I have no idea, but I do worry about that, so that's good to know

842
01:24:17,280 --> 01:24:20,280
 There were a lot going on downtown this Saturday

843
01:24:20,280 --> 01:24:23,280
 Just to watch what was happening

844
01:24:23,280 --> 01:24:26,280
 Once they dispersed, it was pretty good

845
01:24:26,280 --> 01:24:34,280
 Before the recording started, that two-hour window, and then they went and dropped at eight

846
01:24:34,280 --> 01:24:37,280
 You're saying you want more protests

847
01:24:37,280 --> 01:24:41,280
 No, I'm not saying that

848
01:24:41,280 --> 01:24:46,280
 Any other questions for Kristen? Great job, Kristen, thanks so much

849
01:24:46,280 --> 01:24:50,280
 Next up, Jamie

850
01:24:50,280 --> 01:24:52,280
 Welcome back, Jamie

851
01:24:52,280 --> 01:24:54,280
 Can you yield your time, sir?

852
01:24:54,280 --> 01:24:58,280
 Yeah, I'll be quick, it's more business retention and expansion

853
01:24:58,280 --> 01:25:04,280
 I kind of want to give you a snapshot of four businesses that we were able to meet with

854
01:25:04,280 --> 01:25:07,280
 And kind of what the challenges are, their follow-ups

855
01:25:07,280 --> 01:25:11,280
 I have removed their business names, just for their privacy

856
01:25:11,280 --> 01:25:14,280
 But this first one is a parts manufacturer

857
01:25:14,280 --> 01:25:17,280
 It's been in it for 40 years, they're currently 350 employees

858
01:25:17,280 --> 01:25:19,280
 Up from 200, they're COVID

859
01:25:19,280 --> 01:25:23,280
 They were considering a move a few years back to modern Mexico

860
01:25:23,280 --> 01:25:26,280
 But they decided to stay as they grow and expand here in Denver

861
01:25:26,280 --> 01:25:29,280
 So they're in the process of a $45,000 score for expansion

862
01:25:29,280 --> 01:25:33,280
 About a $14 million investment at 200 employees

863
01:25:33,280 --> 01:25:35,280
 All the things we love to hear

864
01:25:35,280 --> 01:25:40,280
 The challenges they've had are obviously road condition, road signage

865
01:25:40,280 --> 01:25:44,280
 They have a lot of 18-wheelers that pull in their parking lot and are in the wrong spot

866
01:25:44,280 --> 01:25:47,280
 And turn and run over some of their trees and shrubbery

867
01:25:47,280 --> 01:25:52,280
 Lack of bus transportation, which we hear from a lot

868
01:25:52,280 --> 01:25:56,280
 We have shared with them incentive information, which they have completed

869
01:25:56,280 --> 01:26:00,280
 The mobility report, which they were glad to have

870
01:26:00,280 --> 01:26:02,280
 And able to help make connections for them

871
01:26:02,280 --> 01:26:05,280
 So they can not only continue their expansion

872
01:26:05,280 --> 01:26:09,280
 But then also meet the right people for this process

873
01:26:09,280 --> 01:26:13,280
 Another one we've been working with is the Fabrication Technology Company

874
01:26:13,280 --> 01:26:16,280
 That's been in town since 1965

875
01:26:16,280 --> 01:26:21,280
 They have a 400,000 square foot facility, around 350 employees

876
01:26:21,280 --> 01:26:23,280
 They've gone through some renovations the last couple of years

877
01:26:23,280 --> 01:26:28,280
 Trying to make their facility 100% renewable energy

878
01:26:28,280 --> 01:26:30,280
 They've created a new customer service center

879
01:26:30,280 --> 01:26:32,280
 And some modern operation training center, demo areas

880
01:26:32,280 --> 01:26:35,280
 They've done a great job in their entrance area

881
01:26:35,280 --> 01:26:40,280
 But they're also having challenges with road work being done and future projects

882
01:26:40,280 --> 01:26:43,280
 They're coming on the horizon for them

883
01:26:43,280 --> 01:26:47,280
 They are on their goal to get 100% renewable energy

884
01:26:47,280 --> 01:26:51,280
 Having some issues with solar panels

885
01:26:51,280 --> 01:26:57,280
 And then also they were preparing for potential layoffs that may occur

886
01:26:57,280 --> 01:27:00,280
 Not that they are occurring, but they wanted to get in front of it

887
01:27:00,280 --> 01:27:04,280
 So we connected them with the North Texas Workforce Solutions Shared Work Program

888
01:27:04,280 --> 01:27:10,280
 Which the Shared Work Program had a meeting with them outside of Brittany or myself

889
01:27:10,280 --> 01:27:14,280
 We've shared with them some serial renewable energy plans and connections

890
01:27:14,280 --> 01:27:19,280
 And the mobility plan, but there's some more work to be done with this group

891
01:27:19,280 --> 01:27:24,280
 Parks Manufacture, a new company here in town

892
01:27:24,280 --> 01:27:28,280
 They started with five employees in 2022, they're up to 50 employees

893
01:27:28,280 --> 01:27:33,280
 They're looking for space to build a headquarters, a campus

894
01:27:33,280 --> 01:27:36,280
 They need more power in their facility

895
01:27:36,280 --> 01:27:38,280
 They're looking for more storage space

896
01:27:38,280 --> 01:27:41,280
 They love to have preferred rates, don't we all prefer rates?

897
01:27:41,280 --> 01:27:45,280
 Their business model is evolving and they're trying to adapt to the changes

898
01:27:45,280 --> 01:27:50,280
 So we've connected them with various economic development partners

899
01:27:50,280 --> 01:27:53,280
 To help find a new space for them, a new location for them to grow

900
01:27:53,280 --> 01:27:56,280
 They have been in a lot of conversations with Municipal Electric

901
01:27:56,280 --> 01:28:00,280
 And then also we felt they needed to get with Christina Davis

902
01:28:00,280 --> 01:28:02,280
 With the city's economic development department

903
01:28:02,280 --> 01:28:08,280
 And help her guide them through a process in their growth and expansion

904
01:28:08,280 --> 01:28:13,280
 The last one I wanted to mention was, it's a premium truck dealer in town

905
01:28:13,280 --> 01:28:18,280
 They've currently still on five acres on a five bay facility, about 50 employees

906
01:28:18,280 --> 01:28:22,280
 They've been going through a process about two years to expand on 10 acres

907
01:28:22,280 --> 01:28:27,280
 And have a 50,000 square foot facility with a showroom, offices, 24 bays

908
01:28:27,280 --> 01:28:30,280
 Increase to 50 employees, all the good things we love to hear

909
01:28:30,280 --> 01:28:36,280
 They've been in permitting for about two years, since September 23

910
01:28:36,280 --> 01:28:41,280
 Not finished, that was one of the main reasons for the visit

911
01:28:41,280 --> 01:28:44,280
 Pushed their completion date back a little bit

912
01:28:44,280 --> 01:28:47,280
 They're concerned about infrastructure and roads

913
01:28:47,280 --> 01:28:51,280
 After that initial meeting with them, we connected them with our city's loan services team

914
01:28:51,280 --> 01:28:54,280
 And they were able to get an answer within an hour to them

915
01:28:54,280 --> 01:28:57,280
 Explaining to them why the process has taken a while

916
01:28:57,280 --> 01:29:01,280
 And helped fast track the process toward completion

917
01:29:01,280 --> 01:29:05,280
 And then we have shared some of our ability

918
01:29:05,280 --> 01:29:08,280
 This is just an overview of what we are

919
01:29:08,280 --> 01:29:11,280
 When we go out and do some business protection and expansion

920
01:29:11,280 --> 01:29:16,280
 And how we follow up with these companies

921
01:29:16,280 --> 01:29:20,280
 It's been good, everyone, no one's been very upset and angry

922
01:29:20,280 --> 01:29:24,280
 Everyone has been helping to put them on the right path

923
01:29:24,280 --> 01:29:29,280
 To get to their completion date or their expansion

924
01:29:29,280 --> 01:29:35,280
 Was that delay in permitting because of a number of changes

925
01:29:35,280 --> 01:29:38,280
 That they had made to what they requested?

926
01:29:38,280 --> 01:29:42,280
 They felt communication wasn't as good as it needed to be

927
01:29:42,280 --> 01:29:47,280
 And they felt that different people were giving different answers

928
01:29:47,280 --> 01:29:53,280
 But we were able to see everybody in the room and talk

929
01:29:53,280 --> 01:29:56,280
 All right, thanks, any questions for Jamie?

930
01:29:56,280 --> 01:29:59,280
 Jamie, thank you. Thank you

931
01:29:59,280 --> 01:30:04,280
 Brittany, future agenda items

932
01:30:04,280 --> 01:30:08,280
 Yes, future agenda items for May

933
01:30:08,280 --> 01:30:14,280
 We will have two potential projects that we'll bring forward for incentive approval

934
01:30:14,280 --> 01:30:18,280
 We plan to cover the RFIs that we are receiving

935
01:30:18,280 --> 01:30:23,280
 We want to get your feedback on much of the RFIs that we should respond to

936
01:30:23,280 --> 01:30:28,280
 Based on their capital investment numbers because what we've heard from the state

937
01:30:28,280 --> 01:30:33,280
 Is that they have unprecedented amount of RFIs coming into the state

938
01:30:33,280 --> 01:30:36,280
 And so you really need to find a way to tackle it

939
01:30:36,280 --> 01:30:40,280
 Because Christina and I are making the decision on which ones to respond to

940
01:30:40,280 --> 01:30:44,280
 But there's a lot coming in so it takes up a lot of time as well

941
01:30:44,280 --> 01:30:50,280
 So we'll bring that to you and the water infrastructure update as well

942
01:30:50,280 --> 01:30:56,280
 Stephen Gay has agreed to present to our board in response to Jeremy's request

943
01:30:56,280 --> 01:31:05,280
 I guess in the future, may we have an RFQ update as well for the proposal and plan to consult it?

944
01:31:05,280 --> 01:31:09,280
 Yes, yes, we can do that for sure

945
01:31:09,280 --> 01:31:16,280
 And then, not now, but my first meeting we entered the city utility department was

946
01:31:16,280 --> 01:31:21,280
 Did a presentation, we asked a bunch of questions, they never really got back to us or addressed those questions

947
01:31:21,280 --> 01:31:23,280
 Do we know where we stand on any of that?

948
01:31:23,280 --> 01:31:24,280
 On commercial deposits?

949
01:31:24,280 --> 01:31:26,280
 Yeah, there was a bunch of different stuff

950
01:31:26,280 --> 01:31:30,280
 We didn't have to go back and watch the video

951
01:31:30,280 --> 01:31:33,280
 But I don't know if we've ever gotten anything back or feedback from them

952
01:31:33,280 --> 01:31:37,280
 He was undergoing a study on that so we'll check back in and see when he's ready to do that

953
01:31:37,280 --> 01:31:39,280
 I'm not sure if you can add that to that as well

954
01:31:39,280 --> 01:31:45,280
 Yes, I thought we had a TBD section at the bottom but we'll get that back on there because you're right

955
01:31:45,280 --> 01:31:53,280
 Quick update on the nominating committee, the EDPB nominating committee has met

956
01:31:53,280 --> 01:31:56,280
 And so they have a few board selections

957
01:31:56,280 --> 01:32:03,280
 I think they have one more round of board interviews or interviewing a few applicants or nominations if they're considering

958
01:32:03,280 --> 01:32:11,280
 So once they finalize who they want to appoint, then we believe they'll go to council on May 6

959
01:32:11,280 --> 01:32:15,280
 And so Steve, this may or may not be your last meeting

960
01:32:15,280 --> 01:32:18,280
 We appreciate all your help

961
01:32:18,280 --> 01:32:21,280
 I just wanted to say that, yeah

962
01:32:21,280 --> 01:32:25,280
 Disappoint you all next month

963
01:32:25,280 --> 01:32:26,280
 You'll miss us

964
01:32:26,280 --> 01:32:27,280
 I will!

965
01:32:27,280 --> 01:32:28,280
 I'll miss you already

966
01:32:28,280 --> 01:32:36,280
 Are you going to look at whatever you've got to ask? Are there any more questions?

967
01:32:36,280 --> 01:32:40,280
 I apologize

968
01:32:40,280 --> 01:32:44,280
 I looked at Aaron and I was like, he looks sweet

969
01:32:44,280 --> 01:32:47,280
 Do you know yourself? Come on

970
01:32:47,280 --> 01:32:53,280
 Alright, now do I read this?

971
01:32:53,280 --> 01:33:02,280
 If you have forms in front of you from the city secretary's office, please sign those to Vanessa at Susanna

972
01:33:02,280 --> 01:33:07,280
 Please complete your Texas Open Meetings Act, TOMA, training as soon as possible

973
01:33:07,280 --> 01:33:11,280
 Email your TOMA to Vanessa

974
01:33:11,280 --> 01:33:16,280
 Our next EDP meeting is scheduled to be Wednesday, May 14th at 11

975
01:33:16,280 --> 01:33:22,280
 Because you're a member of the EDP, you're also a member of TURS 2, congratulations!

976
01:33:22,280 --> 01:33:27,280
 TURS 2 special meeting is also on May 14th

977
01:33:27,280 --> 01:33:30,280
 And I'll take about 30 minutes at the conclusion of

978
01:33:30,280 --> 01:33:34,280
 At that time, we'll ask you to move over to training room 5

979
01:33:34,280 --> 01:33:38,280
 And then we'll adjourn from there, because that meeting is

980
01:33:38,280 --> 01:33:43,280
 A meeting that's interoperable for training is scheduled for here, thank you

981
01:33:43,280 --> 01:33:50,280
 If there is no other business, and there is not, I will adjourn the meeting at 12.45

982
01:33:50,280 --> 01:33:52,280
 Thank you everybody

983
01:33:52,280 --> 01:33:54,280
 Thank you