WEBVTT 00:00:00.000 --> 00:00:07.600 for me that's better all right we will start with a good welcome to the meeting 00:00:07.600 --> 00:00:13.360 of the economic development partnership for this Wednesday April the 9th 2025 at 00:00:13.360 --> 00:00:22.800 1112 a.m. we've established quorum so I'll call the order first item is to 00:00:22.800 --> 00:00:32.000 identify and prove the minutes from the last have a motion thank you and a 00:00:32.000 --> 00:00:38.880 second thank you any discussion around the minutes hearing done we'll move to 00:00:38.880 --> 00:00:47.760 vote all in favor signify by saying aye any opposed that carries thanks so much 00:00:47.760 --> 00:00:55.120 the first item for consideration is EDP 25 - 0 0 6 I'm sorry that was just the 00:00:55.120 --> 00:01:02.580 board thank you new item EDP 24 0 6 9 ordinance of the city of Denton Texas 00:01:02.580 --> 00:01:26.760 corporation and much more because we're seeing Taylor's on her way thank you 00:01:26.760 --> 00:01:31.800 Jamie Adams partnerships no walk through our annual report here and we'll take 00:01:31.800 --> 00:01:36.640 questions at the end but mission of the date and economic development partnerships 00:01:36.640 --> 00:01:40.280 expand the city's tax base and support facing jobs and target markets for 00:01:40.280 --> 00:01:44.160 partnerships the stakeholder education which you will see throughout this 00:01:44.160 --> 00:01:49.280 presentation the partnership has been in place since 1986 between the city that 00:01:49.280 --> 00:01:55.720 chamber of commerce when they establish a joint economic development program and 00:01:55.720 --> 00:02:03.960 it continues today six key roles that EDP plays in facilitating the region's 00:02:03.960 --> 00:02:08.120 continued prosperity six things that we really focus on it's marketing events 00:02:08.120 --> 00:02:13.400 assets through our website and social channels and in-person public private 00:02:13.400 --> 00:02:17.840 connector business retention expansion which has been pretty key for us this 00:02:17.840 --> 00:02:22.640 year building relationships convey industry players and supporting small 00:02:22.640 --> 00:02:26.040 business which is also key a lot of times people when they make me think that 00:02:26.040 --> 00:02:30.320 we just work with the large industries here in town but we do support all 00:02:30.320 --> 00:02:35.120 business especially our smaller businesses in the contract with the 00:02:35.120 --> 00:02:40.800 city there's four focus areas and we're going to talk about here the focus area 00:02:40.800 --> 00:02:45.440 number one is relationship building with developers brokers local industries and 00:02:45.440 --> 00:02:50.360 business and how we did that over the past year and part of the strategy and 00:02:50.360 --> 00:02:54.000 tracking the investment relationship building was hosting our one of our 00:02:54.000 --> 00:02:57.680 premier events recorded reforms which you're meant to educate regional 00:02:57.680 --> 00:03:02.820 leaders the major employees values of investing and didn't facilitate dialogue 00:03:02.820 --> 00:03:06.720 between public private leaders and last year we were able to host three of course 00:03:06.720 --> 00:03:13.760 the year month the airport Hillwood himself helped us host one about 00:03:13.760 --> 00:03:18.280 landmark high school and then we partnered with UNT to host the workforce 00:03:18.280 --> 00:03:26.640 so three forms around 375 attendees for those quarterly forms last year we also 00:03:26.640 --> 00:03:32.000 helped us plant manager round tables we have two of those which convene leaders 00:03:32.000 --> 00:03:38.800 of about 3,000 employees we talked about topics that they're asking me on our 00:03:38.800 --> 00:03:44.000 business retention and expansion visits about workforce development warehouse 00:03:44.000 --> 00:03:47.640 automation was when we had the Tetra Pak and relationship building with our 00:03:47.640 --> 00:03:52.880 universities and along with our high school partners we also hosted three HR 00:03:52.880 --> 00:03:58.080 round tables around 250 attendees those are great collaborations with UNT 00:03:58.080 --> 00:04:02.320 Career Center didn't I see the proud Academy in North Texas Sherman which is 00:04:02.320 --> 00:04:08.000 the society for human resource management and then part of our contract 00:04:08.000 --> 00:04:11.600 is I'm tasked with five community engagement talks last year had a chance 00:04:11.600 --> 00:04:17.240 to do seven of those but those primarily focus on the value of public private 00:04:17.240 --> 00:04:21.860 partnership and economic development usually a free lunch of those two so I 00:04:21.860 --> 00:04:29.180 enjoy another strategy is promoting didn't create a brand from our social 00:04:29.180 --> 00:04:36.120 website channels we were asked to create 12 stories over the course of the year 00:04:36.120 --> 00:04:42.760 we did that these 12 stories are about didn't businesses are local happenings 00:04:42.760 --> 00:04:46.440 and one of the reasons why strategic in that way we want someone who's looking at 00:04:46.440 --> 00:04:51.680 Denton from around the world or from America to really slice of life from 00:04:51.680 --> 00:04:55.920 they have industry they also have coffins going down Hickory Street for me 00:04:55.920 --> 00:05:02.840 that's a really unique place with that strategy our website saw some 00:05:02.840 --> 00:05:09.240 significant growth didn't need a p.com 23 24 we went from 3,200 users a month to 00:05:09.240 --> 00:05:15.520 around 58 63 users a month with around 12,000 average page views a month which 00:05:15.520 --> 00:05:21.520 is an 83% increase year-to-year and our emails had really good engagement this 00:05:21.520 --> 00:05:27.340 past year I have a 54% open rate which is two times industry average and 16% 00:05:27.340 --> 00:05:31.200 collective rate which is six times industry average which means that the 00:05:31.200 --> 00:05:34.520 items in our email or something that speaks to people and you want to click 00:05:34.520 --> 00:05:42.600 on those another strategy is is understanding professional office space 00:05:42.600 --> 00:05:46.880 and I was tasked with meeting with five property managers to address vacancies 00:05:46.880 --> 00:05:51.760 concerns had a chance to meet with eight office vacancies have dropped from about 00:05:51.760 --> 00:05:57.360 nine point three percent quarter one of 24 to 7.8 percent in quarter four of 00:05:57.360 --> 00:06:02.760 2024 market rent with that drop market rent has gone up a little bit square 00:06:02.760 --> 00:06:11.920 foot was 27.61 with an asking of $24 and ending with $28 and asking about 00:06:11.920 --> 00:06:22.400 26 14 so vacancies have dropped and demand prices our industrial space I was 00:06:22.400 --> 00:06:26.160 asked to engage five industrial property managers of vacancy concerns had chance 00:06:26.160 --> 00:06:31.280 to visit with 11 over course of the year didn't has around 24 million square feet 00:06:31.280 --> 00:06:39.480 of warehouse space we have about 4 million available at this this moment 2.1 00:06:39.480 --> 00:06:43.880 million was built in 24 which made us the fastest growing market in the 00:06:43.880 --> 00:06:52.800 metroplex overall inventory increased by 10% in 2024 we are our available rate is 00:06:52.800 --> 00:06:59.040 around 17% the DFW average around 10% 9.6 10% so we're a little higher that 00:06:59.040 --> 00:07:05.680 speaks to the availability of land we had the growth of recruitment but our 00:07:05.680 --> 00:07:10.320 vacancy rates have started to decline come down and absorption outpaced 00:07:10.320 --> 00:07:15.440 construction delivers so the national average is around 6.5% we are a little 00:07:15.440 --> 00:07:22.800 higher than that we are seeing those get snatched up second focus area was 00:07:22.800 --> 00:07:27.920 business retention and attraction site tours site business tours and meeting 00:07:27.920 --> 00:07:34.840 with our business leaders BRE is a strategy of connecting with existing 00:07:34.840 --> 00:07:38.120 businesses understanding responding to needs one of the things you always want 00:07:38.120 --> 00:07:43.560 to point out is we work with already established businesses and one of the 00:07:43.560 --> 00:07:47.560 reasons why that is is the International Economic Development Council says that 00:07:47.560 --> 00:07:52.880 80% of growth happens from business retention and expansion recruitment is 00:07:52.880 --> 00:07:57.560 very important but having our businesses are here grow expand add employees that 00:07:57.560 --> 00:08:03.640 space is really important to what we're doing here so part of our business 00:08:03.640 --> 00:08:07.600 retention expansion is we want engaged existing businesses that represent the 00:08:07.600 --> 00:08:12.040 city's core values of competitive kinetic connected creative and 00:08:12.040 --> 00:08:17.040 sustainable sectors and that helps preserve and increase local jobs tax 00:08:17.040 --> 00:08:22.880 revenue diversifies local economy and along with diversifies access to the 00:08:22.880 --> 00:08:27.200 other sources we were tasked with of course here visiting having 40 BRE 00:08:27.200 --> 00:08:32.640 visits and we were able to be 51 exceeding our goal and and of those 51 00:08:32.640 --> 00:08:36.160 visits eight businesses indicated they were looking to expand either with 00:08:36.160 --> 00:08:41.440 employees or expanding their footprint 12 express concern of employee 00:08:41.440 --> 00:08:47.640 transportation which is primarily in West Park area I think our percent of 00:08:47.640 --> 00:08:53.200 those 12 area and around 26 trust concern of a workforce development and 00:08:53.200 --> 00:08:56.400 that can be a variety of things where you know where's the next wave workers 00:08:56.400 --> 00:09:01.680 coming from how do we engage 18 to 24 year olds so and so on but workforce 00:09:01.680 --> 00:09:09.720 development question was brought up over half the time very we facilitate 00:09:09.720 --> 00:09:15.240 requested connections one that I opening things to me is I thought everybody who 00:09:15.240 --> 00:09:19.400 worked in a business knew the other guy who worked in the business but come to 00:09:19.400 --> 00:09:23.280 find out we don't so we were trying to help connect business to business 00:09:23.280 --> 00:09:28.200 relationships workforce connections business community a lot of business we 00:09:28.200 --> 00:09:33.400 visit when you're more involved with the chamber more involved and events 00:09:33.400 --> 00:09:40.760 happening in infrastructure concerns is a question that we help answer but of 00:09:40.760 --> 00:09:45.400 our 51 visits we were able to connect 43 of these companies with either a grown 00:09:45.400 --> 00:09:51.440 and then ISD and CTC you into your TV you some aspect to be the career center 00:09:51.440 --> 00:09:58.560 or professor are someone is to provide some guidance we were able to share job 00:09:58.560 --> 00:10:05.800 fairs to work for solution University partners where we hear one we shared up 00:10:05.800 --> 00:10:11.280 partners and then what you know employee satisfaction comes up a good bit and we 00:10:11.280 --> 00:10:15.440 were able to introduce a lot of people to the original of Texas one of the TV 00:10:15.440 --> 00:10:20.280 staffs to encourage people that they don't have to go to the down stores or 00:10:20.280 --> 00:10:27.840 Cowboys games great time here and the gymnastics me a football game the third 00:10:27.840 --> 00:10:33.200 focus area is business to business networking we are a champion and 00:10:33.200 --> 00:10:36.480 convener so we promote industry specific networking events business 00:10:36.480 --> 00:10:43.440 communities I am able to connect businesses with you social times hosting 00:10:43.440 --> 00:10:49.360 luncheons also engaging new businesses who moved to town we find a lot of 00:10:49.360 --> 00:10:52.480 people who have come to town last year still drinking from a fire hose and they 00:10:52.480 --> 00:10:56.680 want to know how do we get involved how do we get connected visiting with those 00:10:56.680 --> 00:11:04.280 businesses and then you know sharing what's going on and then this is what we 00:11:04.280 --> 00:11:09.560 do so we continue partnership with the city the certificate of occupancy emails 00:11:09.560 --> 00:11:15.720 that go out each month is key and a lot of love our email database really enjoys 00:11:15.720 --> 00:11:19.320 that that's a great partnership city to be able to share that list with us each 00:11:19.320 --> 00:11:24.640 month in our champion convening we you know we want to help businesses thrive 00:11:24.640 --> 00:11:30.720 on its challenges to fuel continued growth like I said earlier a new 00:11:30.720 --> 00:11:33.720 business wants to engage in the community we help connect them with their career 00:11:33.720 --> 00:11:40.280 networks resources industry that'll help them invest in the city competition for 00:11:40.280 --> 00:11:45.160 top talent is high you hear a lot with the best people so that's one of the 00:11:45.160 --> 00:11:50.480 things we do is providing that pipeline to work for solutions or NCTC did I see 00:11:50.480 --> 00:11:54.280 another week goes by that we aren't sharing those connections with our 00:11:54.280 --> 00:11:58.040 business leaders and small businesses don't want to leave them out like I 00:11:58.040 --> 00:12:01.600 mentioned earlier you know they need resource and descendants and assistance 00:12:01.600 --> 00:12:05.680 in our our partnership with the small business development center really helps 00:12:05.680 --> 00:12:11.720 them get free of ice and expertise the last focus area is business training 00:12:11.720 --> 00:12:15.680 education private investor relations in the small business development center 00:12:15.680 --> 00:12:22.440 our funding goes to the small business development center and over 20 24 they 00:12:22.440 --> 00:12:29.800 were able to help 67 businesses start supporting around 254 jobs 642 unique 00:12:29.800 --> 00:12:35.360 clients were served 546 underserved communities clients serve and those are 00:12:35.360 --> 00:12:39.160 typically people who don't have access to resources whether it be socio-economic 00:12:39.160 --> 00:12:45.000 or geographic and then it's a capital infusion and then a little too many 00:12:45.000 --> 00:12:50.120 dollars so we won't think or Logan and staff the small business development 00:12:50.120 --> 00:12:55.720 center and like I said it's it's a key point here but the relationship building 00:12:55.720 --> 00:13:00.800 with UNTT of UNCTC career centers in the grown with that next wave of workforce 00:13:00.800 --> 00:13:05.680 and helping them to understand the comings and goings of young people has 00:13:05.680 --> 00:13:12.000 been really important a great for forced collaboration for us and then speaking 00:13:12.000 --> 00:13:15.600 on the private side of the economic building partnership funds that come 00:13:15.600 --> 00:13:19.360 from the general chamber membership support is raised specifically for our 00:13:19.360 --> 00:13:24.320 economic development efforts right now we have 125 businesses invested in our 00:13:24.320 --> 00:13:29.000 partnerships and they represent all of our strategic growth areas from the 00:13:29.000 --> 00:13:48.600 city's strategic point and that is it I'm open for questions and those things 00:13:48.600 --> 00:13:54.080 is I remember like six or seven years ago we had a slide of Western in that 00:13:54.080 --> 00:14:00.040 whole area was $96 worth of tax revenue and it'd be nice to know what that tax 00:14:00.040 --> 00:14:14.680 revenue is now we first started that or maybe we can throw that in this one 00:14:14.680 --> 00:14:18.800 thing I don't know that we do is throw into that economic model we do a 00:14:18.800 --> 00:14:23.240 business-to-business right like you said hey Peterbilt you have this economic 00:14:23.240 --> 00:14:27.520 impact I can tell you number boys all that stuff but what has been the impact 00:14:27.520 --> 00:14:38.760 of the Western industrial sector like area of Denton basically in five-year 00:14:38.760 --> 00:14:44.840 increments or something would be a good thing to kind of show right yeah okay to 00:14:44.840 --> 00:14:51.320 include the airport yeah exactly that's that's that sector of Denton is grown in 00:14:51.320 --> 00:14:57.160 the last 20 years since I was Peterbilt in the airport there's a bunch of 00:14:57.160 --> 00:15:03.000 different stuff over there it's a great story I just don't think we do a good 00:15:03.000 --> 00:15:09.600 enough job of telling the story and what the actual bottom line is we will get 00:15:09.600 --> 00:15:19.120 that easy except that my comments only tangentially impact anybody in this room 00:15:19.120 --> 00:15:25.320 but given my previous criticism about letting UPS get out of here with that 00:15:25.320 --> 00:15:30.760 city taking I've been at FEMA the last three days because there's a little 00:15:30.760 --> 00:15:35.800 emergency going on up in Arkansas and Civil Air Patrol has taken about 20,000 00:15:35.800 --> 00:15:39.840 pictures for FEMA I've got three airplanes up there but I had an 00:15:39.840 --> 00:15:44.880 opportunity to talk to Tony Robinson yesterday and he is the head of FEMA 00:15:44.880 --> 00:15:49.680 region six if you don't know that's Louisiana Arkansas Oklahoma Texas and New 00:15:49.680 --> 00:15:55.400 Mexico anytime there's a disaster people come here to respond there been about 60 00:15:55.400 --> 00:15:59.600 of us out of the center underground out there the last three days now they've 00:15:59.600 --> 00:16:03.840 stood down except for the aviation part of the thing because they don't need any 00:16:03.840 --> 00:16:08.560 more support from being at this point time but he commented that he used to 00:16:08.560 --> 00:16:15.000 get invited to the mixers the business things occasionally the City Council 00:16:15.000 --> 00:16:18.320 would come out and have a meeting out there said I haven't heard anything from 00:16:18.320 --> 00:16:26.840 anybody in about five years folks that is a gold mine in this community and I 00:16:26.840 --> 00:16:31.720 offered to have him come speak to us but I think a better deal would be to have 00:16:31.720 --> 00:16:36.360 Christine and Brittany work with him for us to go out there and see if you've 00:16:36.360 --> 00:16:43.700 never been in that facility it's crowded but it's amazing what asset we have here 00:16:43.700 --> 00:16:47.240 in town and they go through all the same things all these other folks go through 00:16:47.240 --> 00:16:53.440 needing the higher quality people and and all the other things and I didn't 00:16:53.440 --> 00:16:58.560 know this until I happened to be waiting on the elevator that property was 00:16:58.560 --> 00:17:03.500 purchased by businesses and people in Denton Texas and donated FEMA back in 00:17:03.500 --> 00:17:09.920 the early 60s to lure them to come to town and their names are posted on a big 00:17:09.920 --> 00:17:14.760 poster and I mean it's pretty cool and I meant to take a picture but I forgot I 00:17:14.760 --> 00:17:22.760 was coming to this one sorry about that but anyway I just think that that 00:17:22.760 --> 00:17:26.240 somehow has been overlooked through the years that is so important to this 00:17:26.240 --> 00:17:32.480 community that's just my thought is I think we've got to go back and take more 00:17:32.480 --> 00:17:36.560 examination would you mind helping set an introduction or sharing Tony's 00:17:36.560 --> 00:17:42.240 information with us I think helicopters too long I'm hard to hear Tony Robinson 00:17:42.240 --> 00:17:48.960 was the directors names and I'll get you his former perfect thank you very much I 00:17:48.960 --> 00:17:53.120 would just like to make a comment on behalf of Christine Taylor I will work 00:17:53.120 --> 00:17:57.360 with Jamie and Brittany commisively on this we're very supportive of the work 00:17:57.360 --> 00:18:01.720 that Jamie has done to tie this back in to the city's work plan and Rick that's 00:18:01.720 --> 00:18:05.380 really good feedback and part of us tying it into that work plan is making 00:18:05.380 --> 00:18:09.120 sure that Brittany has a lane and Jamie has a lane and it's kind of like merging 00:18:09.120 --> 00:18:13.480 on 35 we do it sometimes but sometimes we stay apart so what we do best we do 00:18:13.480 --> 00:18:17.160 together but most certainly we can reach out to FEMA but this all ties to the 00:18:17.160 --> 00:18:20.400 work plan and so Christine and I are very supportive of the work that's 00:18:20.400 --> 00:18:27.240 happening I think this has happened before probably six or seven 00:18:27.240 --> 00:18:32.200 administrations even before the current City Council I've been somehow they just 00:18:32.200 --> 00:18:40.400 have fallen in the crack absolutely good opportunity pictures are didn't happen I 00:18:40.400 --> 00:18:43.980 was out there two years ago at least and then before that so we've been out there 00:18:43.980 --> 00:18:47.920 I talked to pretty regular but you haven't had a council meeting or the council out 00:18:47.920 --> 00:18:53.640 there to have lunch or something what he told me it doesn't matter just sure I'm 00:18:53.640 --> 00:18:58.120 just saying we bump into the one guy that I know regular I just want to you 00:18:58.120 --> 00:19:01.120 know it hadn't been five years and I looked at the picture to make sure and 00:19:01.120 --> 00:19:05.400 it's time stamped so I feel real comfortable saying a couple years ago I 00:19:05.400 --> 00:19:08.960 was out there with my family and then Chief Dixon hosted the thing out there 00:19:08.960 --> 00:19:15.120 before that so maybe he just didn't get updated yeah yeah I mean a lot goes on 00:19:15.120 --> 00:19:18.480 out there so we could bring this for a follow-up meeting 00:19:18.480 --> 00:19:27.760 I think so they're there they've expanded beyond their footprint significantly 00:19:27.760 --> 00:19:34.000 even behind me you know so yeah a lot of great things happening and they need to 00:19:34.000 --> 00:19:43.400 expand again I would ask one thing Jamie I'm struck by the mission and I 00:19:43.400 --> 00:19:50.120 appreciate that you share it but it is to expand the city's tax base and I 00:19:50.120 --> 00:19:53.720 think this maybe goes on with what Brian was saying I didn't see anything in the 00:19:53.720 --> 00:19:57.560 presentation on the annual report and as I was thinking about I don't know that 00:19:57.560 --> 00:20:02.080 that's something that we bring back regularly on the impact of tax-based 00:20:02.080 --> 00:20:20.560 credit and help if we quantify that through the work that's done 00:20:20.560 --> 00:20:26.840 any other comments questions move for approval for this 00:20:32.080 --> 00:20:37.200 yes it's Christine's part she's not able to make it today and so I just want to 00:20:37.200 --> 00:20:42.040 briefly go through the history of the chamber 00:20:42.040 --> 00:20:50.240 so Jamie just went over the annual report and so there's an updated work plan the 00:20:50.240 --> 00:20:53.560 agreement typically goes before the economic development partnership for your 00:20:53.560 --> 00:20:58.240 pre-approval the work plan was drafted it's been there's been a few versions 00:20:58.240 --> 00:21:02.600 gone back and forth to the chamber in the city and so now it's a legal's hands 00:21:02.600 --> 00:21:07.520 and that's why we won't able we weren't able to add as an attachment but it will 00:21:07.520 --> 00:21:13.300 go it will if this is approved today it will go forward to City Council so just 00:21:13.300 --> 00:21:16.840 as a reminder through City Council the Denton Chamber of Commerce entered into 00:21:16.840 --> 00:21:21.420 an economic development partnership agreement in 1986 through an economic 00:21:21.420 --> 00:21:24.520 development program agreement the city provided funds for the administration 00:21:24.520 --> 00:21:27.760 and operation budget at the Chamber of Commerce's office of economic development 00:21:27.760 --> 00:21:31.440 which includes prospect generation activities marketing activities trade shows 00:21:31.440 --> 00:21:34.720 published to bring well site and small business development center support some 00:21:34.720 --> 00:21:38.560 of that text will need to be updated to and because I do much more including 00:21:38.560 --> 00:21:42.240 business retention expansion over the past few years an agreement between the 00:21:42.240 --> 00:21:45.360 city the chamber included specific goals deliverables and metrics for the 00:21:45.360 --> 00:21:48.880 chambers office of economic development along with the enhanced clauses regarding 00:21:48.880 --> 00:21:55.840 financial party information and dignity prior action review so this is the past 00:21:55.840 --> 00:22:01.020 history I won't read all of it but just so you know we will present this on 00:22:01.020 --> 00:22:10.560 April 15th at City Council on consent by the way and so it says May 6th was 00:22:10.560 --> 00:22:20.400 actually April 15th so now we can ask for a vote okay any questions all right 00:22:20.400 --> 00:22:29.040 motion for acceptance presentation second first Dan or nominated Dan 00:22:29.040 --> 00:22:33.360 seconded any other conversation hearing none we'll move to vote all in favor 00:22:33.360 --> 00:22:47.000 signify by saying aye thank you any nays and abstention thank you thank you great 00:22:47.000 --> 00:22:59.480 thanks we now move to edp 25 - double oh seven alright so experiments in his 00:22:59.480 --> 00:23:04.520 countless fine pitch and this was an item presented by councilmember Jill 00:23:04.520 --> 00:23:11.040 Jester during a two-minute pit process during City Council and so just as an 00:23:11.040 --> 00:23:15.640 overview of help what a two-minute pitch is this was implemented over the past 00:23:15.640 --> 00:23:19.360 year during the time that I was here were City Council if they're looking for 00:23:19.360 --> 00:23:24.440 updates to city policy or implementing program they are required to submit a 00:23:24.440 --> 00:23:28.280 two-minute pitch during the City Council work session it's from there it'll go 00:23:28.280 --> 00:23:31.600 down it'll go forward to agenda committee which also consists of City 00:23:31.600 --> 00:23:37.180 Council members and it'll move forward to other boards or City Council evening 00:23:37.180 --> 00:23:43.240 council approval and so they have asked the agenda committee has asked our staff 00:23:43.240 --> 00:23:49.080 to review the feasibility of this and I'll go over the details starting with 00:23:49.080 --> 00:23:54.480 the background on November 19 2024 councilmember Jill Jester presented a 00:23:54.480 --> 00:23:57.520 two-minute pitch to City Council directing staff to evaluate the 00:23:57.520 --> 00:24:01.880 feasibility of using experience in us as a funding mechanism for the catalyst 00:24:01.880 --> 00:24:08.680 fund so timeline I won't go over the whole timeline but on April 9 today we 00:24:08.680 --> 00:24:13.280 will ask for your opinions and then we forward to City Council work session on May 6. 00:24:13.280 --> 00:24:19.520 So what is the catalyst fund? As a reminder that is our primary source of 00:24:19.520 --> 00:24:24.200 funding for grants for economic development and so we use a catalyst fund 00:24:24.200 --> 00:24:28.720 for job-based grants for infrastructure grants for our tech entrepreneur grant 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 00:24:34.080 --> 00:24:40.600 mixed beverage tax that's over 150,000 annually through investment income it was 00:24:40.600 --> 00:24:45.400 we received a one-time transfer from utility water and wastewater plan line 00:24:45.400 --> 00:24:50.760 funds branches we return on investment revenue which is a million annually and 00:24:50.760 --> 00:24:56.960 as of September 2024 the fund had approximately 5.3 million dollars and 00:24:56.960 --> 00:25:04.440 the annual budget revenue is approximately 1.1 million dollars so the 00:25:04.440 --> 00:25:08.240 pitch proposes a funding mechanism to consider rededicating dollars from 00:25:08.240 --> 00:25:12.840 sales tax and Avalor Mancino as they terminate to the catalyst fund and so 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 00:25:17.860 --> 00:25:25.440 years then it will expire the next five to ten years once it expires for example 00:25:25.440 --> 00:25:29.760 there's a company that has a 50% abatement that 50% of the taxes that 00:25:29.760 --> 00:25:34.280 they are paying goes to the general fund the city's general fund once the 00:25:34.280 --> 00:25:38.520 incentive expires the additional 50% will then move towards a general fund as 00:25:38.520 --> 00:25:43.200 well councilmember jester is pitching that an additional 50% will move forward 00:25:43.200 --> 00:25:48.760 to the catalyst fund to help with future economic development incentives and so 00:25:48.760 --> 00:25:53.300 we're very thankful that councilmember jester pitched this because we know that 00:25:53.300 --> 00:25:57.280 this is one of her first two-minute pitches is to support economic 00:25:57.280 --> 00:26:01.840 development initiatives and so I'll go over the numbers for our chapter 380 00:26:01.840 --> 00:26:06.480 incentive agreements we have about nine to ten active agreements that Erica 00:26:06.480 --> 00:26:11.160 Sullivan our economic development program administrator manages every year and so 00:26:11.160 --> 00:26:15.600 for our chapter 380 Avalor and chapter 380 mixed beverage and sales tax 00:26:15.600 --> 00:26:21.480 incentives we would have potential of transferring a little over six point nine 00:26:21.480 --> 00:26:26.320 million dollars to the catalyst fund versus a general fund for tax abatements 00:26:26.320 --> 00:26:30.240 we would have a little over one point nine million dollars to transfer for a 00:26:30.240 --> 00:26:41.280 total of eight point nine million dollars over ten year term so this 00:26:41.280 --> 00:26:44.520 slide was the same thing I just said total potential eight point nine million 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 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 00:26:56.440 --> 00:26:59.740 economic development strategic plan and this was a recommendation to roll over 00:26:59.740 --> 00:27:06.520 expiring incentives into that fund so it also aligns with our goals so the next 00:27:06.520 --> 00:27:12.200 steps for recommendations is to for the board to option one recommend at 00:27:12.200 --> 00:27:15.800 reallocating inspiring economic development incentives to the catalyst fund contingent 00:27:15.800 --> 00:27:19.640 on annual budget evaluations and general fund status for a maximum of nine 00:27:19.640 --> 00:27:24.200 million the alternative is to recommend allowing expiring incentives to transfer 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 00:27:29.680 --> 00:27:38.960 present your recommendations to City Council work session any questions yes 00:27:38.960 --> 00:27:46.280 councilman so you know maybe alternatives in between the range of a 00:27:46.280 --> 00:27:55.240 hundred percent zero percent my question is do you have a point of view on sort 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 00:28:01.000 --> 00:28:05.120 the fund you know the reason I'm asking that is like I get it that this is you 00:28:05.120 --> 00:28:11.520 know what we're trying to accomplish but it's also true that we do these 00:28:11.520 --> 00:28:15.280 incentives so that ultimately it'll take pressure off of property tax you know 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 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 00:28:23.920 --> 00:28:28.600 catalyst fund at some percentage that's between a hundred and zero and that when 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 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 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 00:28:39.880 --> 00:28:43.480 nine million dollars over the course of two years that would be ideal it's 00:28:43.480 --> 00:28:48.600 dependent upon of course annual evaluations you see we actually have the 00:28:48.600 --> 00:28:53.360 funds to roll over but it's also dependent on our agreement structures 00:28:53.360 --> 00:28:57.520 because every agreement that we have with companies it could be 50% it could 00:28:57.520 --> 00:29:01.760 be 75% that we're collecting it and I think on the administrative side it would 00:29:01.760 --> 00:29:07.160 just be easier and on and instead of taking an additional 50% or 25% of the 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 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 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 00:29:24.040 --> 00:29:28.600 really dependent on what how our general fund looks like every year 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 00:29:32.680 --> 00:29:40.040 totally say like you know what do we need to have how often does that get 00:29:40.040 --> 00:29:43.920 reviewed I guess is that something that y'all would do as part of your budget 00:29:43.920 --> 00:29:49.440 process annually like the council like would this be something you have to 00:29:49.440 --> 00:29:58.320 approve annually to go ahead and extend that just curious the mechanisms so we 00:29:58.320 --> 00:30:01.680 would review it annually we have a budget sessions this is our actual 00:30:01.680 --> 00:30:06.280 budget time so we would review it in our budget Erica puts together a financial 00:30:06.280 --> 00:30:09.160 forecast every year with all of our incentive agreements and so we know 00:30:09.160 --> 00:30:13.440 what's been what is supposed to be projected for incentive agreements over 00:30:13.440 --> 00:30:18.480 the next 10 years so annually and by the way every company has to complete a 00:30:18.480 --> 00:30:23.400 compliance letter every year to ensure that they're meeting their basic 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 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 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 00:30:48.760 --> 00:30:53.320 you know I'm saying like Gainesville is probably a better mark right like 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 00:30:57.940 --> 00:31:03.360 5 million is a good number we got Frisco Plano all these other ones that you 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 00:31:10.480 --> 00:31:13.600 great question so we derive 9 million from our 00:31:13.600 --> 00:31:17.080 financial forecast for our current incentive agreements and when we know 00:31:17.080 --> 00:31:20.440 that they're going to expire of course that's variable because some companies 00:31:20.440 --> 00:31:23.640 may want to expand their incentives and may apply for additional incentives if we 00:31:23.640 --> 00:31:26.840 know that we will have additional incentive agreements so there's one 00:31:26.840 --> 00:31:31.320 variable and the other variable is that our catalyst fund is our comparison to 00:31:31.320 --> 00:31:35.720 different cities sell sex corporations and so whereas Arlington's getting 20 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 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 00:31:45.120 --> 00:31:48.880 and because ultimately when other cities have that that much funds in their sell 00:31:48.880 --> 00:31:52.240 sex corporation they're able to do more creative incentive packages so they're 00:31:52.240 --> 00:31:58.560 able to get $500,000 upfront grants for jobs or just for relocating to another 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 00:32:02.160 --> 00:32:06.680 understand that I'm just asking what the numbers are right like if we understand 00:32:06.680 --> 00:32:10.200 Arlington's got a tax and all that was that what are the numbers right like 00:32:10.200 --> 00:32:21.040 what's McKinney because we built a plane McKinney for a division of Packard kind 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 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 00:32:31.920 --> 00:32:39.320 employer like what do you what's the number something we should know not 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 00:32:44.520 --> 00:32:48.800 build the budget like the 9 million where is that what you asked for in there 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 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 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 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 00:33:09.760 --> 00:33:14.200 know if anyone has known the board that long but the investment fund operated 00:33:14.200 --> 00:33:19.800 back in 2016 and so once the strategic plan was adopted in 2021 that is when 00:33:19.800 --> 00:33:26.400 previous leadership adopted the catalyst fund and so you this these three sectors 00:33:26.400 --> 00:33:30.840 here utilities city friends in a roll box or earmark percentage of the tax 00:33:30.840 --> 00:33:34.760 revenue from future developments and business fundraising campaign let me get in chamber 00:33:34.760 --> 00:33:40.320 those were all three recommendations from the consultants to create the 00:33:40.320 --> 00:33:45.080 catalyst fund so this orange box right here has not been completed but the 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 00:33:54.640 --> 00:33:58.560 funds that we receive every year that we're allowed from city management and 00:33:58.560 --> 00:34:04.600 City Council so we get a hundred million annually a million annually and that's 00:34:04.600 --> 00:34:11.080 about it so that's in this in addition if this item was approved that council 00:34:11.080 --> 00:34:15.880 member adjuster approved and we would get nine million dollars incrementally 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 00:34:19.280 --> 00:34:24.600 revenue so on the budget we probably could request an additional 00:34:24.600 --> 00:34:29.200 supplemental to add to this budget but it would be competing with other 00:34:29.200 --> 00:34:37.320 departments for that but wouldn't it wouldn't that be the decision of the 00:34:37.320 --> 00:34:42.160 council to figure out where they think the importance is I mean I guess if I 00:34:42.160 --> 00:34:46.360 think stuff if I think and I had the same same discussion kind of with the 00:34:46.360 --> 00:34:53.320 airport that day is if you think your job or your position or your endeavor is 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 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 00:35:04.160 --> 00:35:10.640 out what departments need it more because if you're kind of negotiating 00:35:10.640 --> 00:35:14.960 against yourself a little bit if you say well parks they really need new plants 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 00:35:19.480 --> 00:35:23.980 automatically saying that your endeavors not that word or relative to the other 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 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 00:35:36.520 --> 00:35:42.840 I think we should all right we have two council members that are on our board 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 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 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 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 00:36:00.520 --> 00:36:03.880 will say our finance department is paying close attention to how the 00:36:03.880 --> 00:36:08.800 federal administration changes is affecting our local companies so we're 00:36:08.800 --> 00:36:12.760 kind of conserving at this point because we're not getting as many federal grant 00:36:12.760 --> 00:36:19.260 funds as we thought you know for this year also consumer spending how is that 00:36:19.260 --> 00:36:24.120 affecting how will that affect our tax paying entities right or companies are 00:36:24.120 --> 00:36:27.520 they gonna pay are some people always gonna pay property taxes will they skip 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 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 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 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 00:36:50.080 --> 00:36:54.360 lesser amount they think they're meeting all the needs that you have asked for 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 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 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 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 00:37:16.240 --> 00:37:20.280 budget for you to do your job effectively is and then ask for that 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 00:37:25.360 --> 00:37:29.280 think we're in a different direction maybe is a what other people have but be 00:37:29.280 --> 00:37:34.760 if you look back at the strategic plan what are you trying to actually attract 00:37:34.760 --> 00:37:38.840 here right because organically you're gonna grow warehouses because of where 00:37:38.840 --> 00:37:43.200 we are and that's fine that's you know warehouses create jobs whatever that's 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 00:37:47.840 --> 00:37:53.280 want to know the large manufacturer here right large manufacturers gonna ask for 00:37:53.280 --> 00:37:58.520 typically 200 acres of land and utilities and all that before they put a 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 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 00:38:08.720 --> 00:38:13.280 attract you know these people that we are interested in attracting when we go 00:38:13.280 --> 00:38:17.840 to the business fair or the different things we go to right like that's kind 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 00:38:22.000 --> 00:38:25.080 say these are the sectors or things that we're interested in and what's 00:38:25.080 --> 00:38:29.680 attractive to them so for example the thing that's very attractive to the AI 00:38:29.680 --> 00:38:33.100 mining company is a hundred percent green energy well that's great we got 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 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 00:38:42.520 --> 00:38:47.320 and this typically to get a job so when you put those things together with the 00:38:47.320 --> 00:38:51.360 strategic plan and where that diverse that economic diversity comes in you can 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 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 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 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 00:39:14.960 --> 00:39:24.080 the strategy right like correct that that number is purely tied into what is 00:39:24.080 --> 00:39:29.160 existing they can be shifted from and expiring but that's fine so we're just 00:39:29.160 --> 00:39:35.120 asking and I think Councilwoman just gesture is asking the same so is that 00:39:35.120 --> 00:39:39.040 what's being asked of the board if you support that yes in any future 00:39:39.040 --> 00:39:42.800 recommendations I think she just wanted to hear your feedback as well and this 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 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 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 00:39:58.440 --> 00:40:01.920 bring some of these ideas up because I think we need have new faces all over 00:40:01.920 --> 00:40:06.280 right this is my first cycle going through the budget and so we rely on the 00:40:06.280 --> 00:40:09.840 board's feedback so that we can report it back to our city management and 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 00:40:17.160 --> 00:40:21.200 a motion on this I do think the conversation earlier in regards to being 00:40:21.200 --> 00:40:27.680 able to identify what EDP is resulted in additional tax base would give you some 00:40:27.680 --> 00:40:32.240 justification on what your total ask is because you've demonstrated results with 00:40:32.240 --> 00:40:36.640 that I think there's some way to correlate that that would be impressive 00:40:36.640 --> 00:40:47.840 to me talk about that model that they presented to us they represented that it 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 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 00:40:57.920 --> 00:41:02.440 actually have with the ones that we've supported and brought through to council 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 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 00:41:18.060 --> 00:41:34.920 feedback okay I would say half not a hundred percent I understand I take your 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 00:41:41.960 --> 00:41:46.800 you eat what you kill right but there's also underlying support staff etc etc 00:41:46.800 --> 00:41:51.620 that they go into there ultimately the goal is to you know benefit the to bring 00:41:51.620 --> 00:41:55.920 in businesses that benefit the general fund so I would say if they bring in a 00:41:55.920 --> 00:42:00.920 hundred bucks they get fifty back and you know in addition to the regular 00:42:00.920 --> 00:42:06.440 apartment and then fifty goes into the general percentage right but also dollars 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 00:42:10.640 --> 00:42:17.960 into the general it's hard for me to get comfortable with 100% okay because then 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 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 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 00:42:31.520 --> 00:42:37.480 if Brittany cover this or not but the expiring incentives if 100% or whatever 00:42:37.480 --> 00:42:41.440 percent you want to go to catalyst fund it will just go back into the general 00:42:41.440 --> 00:42:48.280 fund not be dedicated to economic development these like the waste is 00:42:48.280 --> 00:42:52.480 structured right now it just falls off and then as if it's reallocated into the 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 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 00:43:04.480 --> 00:43:11.760 percent or 0% correct yes but if I wanted to just clarify though staying in 00:43:11.760 --> 00:43:15.760 the general fund it doesn't stay in economic developments budget it could 00:43:15.760 --> 00:43:22.720 potentially be reallocated to parks or to public safety it's we haven't had a 00:43:22.720 --> 00:43:26.040 plan or a process for when those incentives fall off of where that 00:43:26.040 --> 00:43:29.640 funding goes so one recommendation was it could continue to go into the 00:43:29.640 --> 00:43:33.880 catalyst fund to help go directly back to economic development or it could go 00:43:33.880 --> 00:43:38.840 into redistribution of whatever city needs are well I think I agree most 00:43:38.840 --> 00:43:44.800 strongly with this to sort of build a budget first that has solid 00:43:44.800 --> 00:43:53.360 assumptions you know I don't really know you know ought to try to create 50 00:43:53.360 --> 00:43:56.040 million dollars you know which case was like well at least this drop in the 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 00:43:59.800 --> 00:44:06.120 process to develop a budget and that really ought to govern what we make in 00:44:06.120 --> 00:44:11.320 certain priorities this is really just about specifically guiding a revenue 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 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 00:44:24.160 --> 00:44:28.960 sidetrack but I'll just give it as an example several years back in a 00:44:28.960 --> 00:44:32.800 situation where we're still the situation where a half-cent of sales tax 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 00:44:38.080 --> 00:44:43.720 not and you know the funding kept going up because sales tax was going up it 00:44:43.720 --> 00:44:48.520 didn't have any relationship at all to public transportation planning so that's 00:44:48.520 --> 00:44:52.640 the kind of thing where we need to divorce you know the idea of a dedicated 00:44:52.640 --> 00:44:57.440 revenue stream you divorce it from a plan that you have conviction about you 00:44:57.440 --> 00:45:01.720 know I think you don't get optimal results so yeah that had been said 00:45:01.720 --> 00:45:05.760 without knowing what a real number is that we ought to be going for because 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 00:45:09.560 --> 00:45:16.280 share the mayor's inclination to say we have a lot of really pressing needs this 00:45:16.280 --> 00:45:22.200 is an important one and also people are you know surprisingly people didn't like 00:45:22.200 --> 00:45:28.560 having the taxes go up go figure and we hear from from senior staff constantly 00:45:28.560 --> 00:45:33.120 that like budget so tight it squeaks you know we have first responder needs and 00:45:33.120 --> 00:45:37.520 just you know the economic development is supposed to help with that too so 00:45:37.520 --> 00:45:43.080 some of this and that without knowing what a real number is I'm inclined to 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 00:45:57.600 --> 00:46:01.800 board retreat will help clarify what other funding we can request in the 00:46:01.800 --> 00:46:05.600 future from the general fund or other sources of revenue from the city but 00:46:05.600 --> 00:46:09.240 this is just one source that we can pull to ensure that we will have funds 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 00:46:14.440 --> 00:46:19.880 not ever had a dedicated funding source for economic development it was used 00:46:19.880 --> 00:46:24.480 recently last year for engine tech for the headquarters grant so we're just 00:46:24.480 --> 00:46:28.640 getting into that position of being able to offer something other than sales tax 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 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 00:46:37.920 --> 00:46:44.120 potential way could we get dedicated reference maybe I want this here and 00:46:44.120 --> 00:46:51.320 everybody is we like the idea we're not sold on the percent so discussion on 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 00:46:56.760 --> 00:47:02.100 be an automatic for the roll-off it needs to be a council consideration 00:47:02.100 --> 00:47:10.520 annually with what the budget looks like Christine just so I can track along and 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 00:47:14.760 --> 00:47:20.340 what so because my register's pitch was for the catalyst fund when it was 00:47:20.340 --> 00:47:24.520 brought forward she'd like to see incentives are budgeted right now in the 00:47:24.520 --> 00:47:29.400 economic development budget for what we've approved in the past so Bucky's is 00:47:29.400 --> 00:47:35.040 one of them when they expire instead of letting that revenue just go back into 00:47:35.040 --> 00:47:39.160 the general fund for distribution that we take that portion and stick it 00:47:39.160 --> 00:47:43.740 straight in the catalyst fund to build up having cash available for future 00:47:43.740 --> 00:47:48.600 economic development which which portion so and forgive me so so Bucky's we gave 00:47:48.600 --> 00:47:54.800 100 bucks let's say for 10 years we get to 10 years 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 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 00:48:07.520 --> 00:48:11.040 yes because I think by the time you've had something for 10 years you should 00:48:11.040 --> 00:48:15.080 have established a larger tax base and you should be contributing at a rate 00:48:15.080 --> 00:48:21.360 such that you're you know you're refilling your own bucket and you don't 00:48:21.360 --> 00:48:29.440 need that that money for other businesses to take the spot so you can 00:48:29.440 --> 00:48:32.840 have a domino effect yeah is what they're saying is that right yes to 00:48:32.840 --> 00:48:39.960 reinvest in another close to a declining domino effect but I think that I think 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 00:48:47.440 --> 00:48:54.080 years let's say whatever year year 10 or year 11 $100 in the current scenario 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 00:48:59.320 --> 00:49:04.240 some portion of that the proposal is a hundred percent hundred dollars goes 00:49:04.240 --> 00:49:09.600 into catalyst what the two gentlemen on council are saying is I agree with that 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 00:49:15.400 --> 00:49:21.120 decide but it shouldn't necessarily just be automatic but up for if we talked 00:49:21.120 --> 00:49:25.240 about structuring where it's an annual evaluation so you're able to see hey 00:49:25.240 --> 00:49:30.000 Bucky's hundred thousand dollar incentive is going to roll off would we 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 00:49:34.520 --> 00:49:41.060 annual conversation and not it's not an increase it's just keeping what you have 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 00:49:46.460 --> 00:49:51.260 opportunity to go find another fish to bring in the boat and and have it's 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 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 00:50:01.000 --> 00:50:04.760 just you're just not using it here anymore because it's that investment 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 00:50:09.600 --> 00:50:14.400 everything else now I want to go find another one yeah I think where I get 00:50:14.400 --> 00:50:19.200 hung up and maybe somebody can help me just that the the static nature of it 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 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 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 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 00:50:36.880 --> 00:50:41.160 another thing that needs a hundred bucks and at the same time the math that an 00:50:41.160 --> 00:50:46.720 accountant for how much you've increased maybe that's maybe that's my hangup is 00:50:46.720 --> 00:50:53.960 over those ten years of that incentive where all that money went to the general 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 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 00:51:02.920 --> 00:51:07.840 100% commission mindset right so like over that 10 years you invested in 00:51:07.840 --> 00:51:11.160 something it should have paid dividends and if you want to talk about those 00:51:11.160 --> 00:51:16.840 dividends going back into the part great but this hundred bucks we had you know 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 00:51:20.400 --> 00:51:25.360 incentivize people like if you you incentivize Bucky's and you miss then 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 00:51:33.480 --> 00:51:36.520 talking it's gotta be renewed it's gotta be reviewed by City Council for one 00:51:36.520 --> 00:51:40.960 year so let's just go ahead sorry so if that hundred percent does start to 00:51:40.960 --> 00:51:44.280 accumulate not used in the manner that I mean ultimately they've got to prove 00:51:44.280 --> 00:51:48.040 what it's gonna use for anyway right correct yeah it's a two-fold what 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 00:51:52.520 --> 00:51:59.840 missing is that so Bucky's they're contributing you know what $60,000 a 00:51:59.840 --> 00:52:03.240 month and sales tax our current agreement with them is we're rebating 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 00:52:09.200 --> 00:52:12.000 have to budget that as an expense so we're saying when that agreements done 00:52:12.000 --> 00:52:16.560 we're gonna continue to receive $60,000 a month and sales tax from them but 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 00:52:20.120 --> 00:52:24.640 we want to reinvest it and being more competitive having cash because we're 00:52:24.640 --> 00:52:29.120 always gonna have the tools where you can do the property tax or the sales tax 00:52:29.120 --> 00:52:34.080 rebates those will always exist but we have seen instances where if we're 00:52:34.080 --> 00:52:37.840 trying to relocate a headquarters they may need a cash incentive or there might 00:52:37.840 --> 00:52:40.800 be another reason to make us more competitive so the way I see it it's 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 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 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 00:52:53.160 --> 00:52:57.760 catalyst fund it's it's slotted for future reinvestment you still have to 00:52:57.760 --> 00:53:02.200 approve that but at least it's in that for future more revenue down the road 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 00:53:05.720 --> 00:53:10.120 development toolkit what do we have that Brittany and the team can insist and 00:53:10.120 --> 00:53:13.680 drive people to come here this makes us more competitive because if we're able 00:53:13.680 --> 00:53:18.120 to grow the catalyst fund when a company comes to us it's one of the 00:53:18.120 --> 00:53:22.960 various tools we can pull out and assist in the process because we lose often in 00:53:22.960 --> 00:53:26.840 the competitive nature of the game because we don't have that happy so this 00:53:26.840 --> 00:53:31.360 would equip us with a fund that enables this board to make recommendations out 00:53:31.360 --> 00:53:35.320 of and continues to feed back for the hard work of this board's efforts to 00:53:35.320 --> 00:53:39.400 contribute to that but it certainly could be structured for the marriage 00:53:39.400 --> 00:53:43.560 point when we talk to council that we're not going to say straight percentages 00:53:43.560 --> 00:53:48.240 that it's an annual evaluation based off of what the general fund looks like 00:53:48.240 --> 00:53:54.680 what's expiring where the catalyst fund is there's a lot of decision factors on 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 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 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 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 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 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 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 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 00:54:45.520 --> 00:54:51.520 that in half so that's $15,000 profit quote-unquote that we brand new money 00:54:51.520 --> 00:54:56.600 we found that money should go to the catalyst fund right but what they're 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 00:55:02.760 --> 00:55:07.380 however many years when it goes back to 60 what we're doing with the incremental 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 00:55:14.320 --> 00:55:21.080 the general because you've benefited ten years of some increment of the city has 00:55:21.080 --> 00:55:25.160 yes not the catalyst fund no I'm saying the catalyst fund should get some of 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 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 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 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 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 00:55:49.200 --> 00:55:52.840 that you have to redo it every year everything you know that that's just 00:55:52.840 --> 00:55:56.560 that's a council prerogative and you don't get the income for a future 00:55:56.560 --> 00:56:02.340 council so outside of contractual obligations no no you most will write in 00:56:02.340 --> 00:56:07.120 the contract that we can get out like the electricity stuff all that well 00:56:07.120 --> 00:56:15.540 electricity you're in comfort on your bombs I guarantee you look I'm off 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 00:56:24.640 --> 00:56:30.040 gonna net 15 after expenses or whatever that's time money too give that to me 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 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 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 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 00:56:52.960 --> 00:56:56.800 right now you're getting 30 you should be getting 60 if there was no incentive 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 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 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 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 00:57:36.080 --> 00:57:40.520 general fund will be getting 60 right now the general funds getting 30 because 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 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 00:57:53.080 --> 00:58:01.360 held from a recommendation so yes so from the recommendation are we 00:58:01.360 --> 00:58:11.240 comfortable saying some point up to 100% yeah I said comfortable I don't know 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 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 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 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 00:58:44.000 --> 00:58:49.680 compare that number to every other need no funding so whether or not you have 00:58:49.680 --> 00:58:55.040 dedicated funds if you have a convincing case and it's more pressing than the 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 00:59:00.760 --> 00:59:10.000 but this it doesn't prevent nothing we do with this prevents us from funding 00:59:10.000 --> 00:59:19.720 any number to say thank you it's not good conversation long conversation all 00:59:19.720 --> 00:59:25.560 right now we go into staff reports is that accurate 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 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? 01:00:17.280 --> 01:00:24.280 we got the largest box of merchandise we have Jamie got a whole new wardrobe 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 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 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 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 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 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 01:01:36.280 --> 01:01:43.280 UNT really did appreciate your feedback and we look forward to fostering that relationship with them 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 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 01:01:59.280 --> 01:02:06.280 Matilda attended the LogX conference in Bristol in partnership with UNT as well 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 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 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 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 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 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 01:03:26.280 --> 01:03:36.280 out of those 29 active projects 14 are downtown specific 01:03:36.280 --> 01:03:40.280 we're competing against ourselves on this one by the way 01:03:40.280 --> 01:03:47.280 Do 14 projects go downtown or is that yeah 14 going for eight spaces? 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 01:04:16.280 --> 01:04:20.280 so a lot of our time goes to helping businesses 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 01:08:03.280 --> 01:08:08.280 And they said from the governor's office so that's very helpful 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 01:08:21.280 --> 01:08:28.280 And for the calendar year, Christina has submitted 21 total RFIs 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 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 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 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? 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 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 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 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 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 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 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 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 01:11:54.280 --> 01:11:58.280 So I'm going to call in the students 01:11:58.280 --> 01:12:02.280 No, no, we're solving the world's problems 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 01:12:10.280 --> 01:12:15.280 This is a recommendation in our strategic plan or downtown master plan 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 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 01:12:35.280 --> 01:12:46.280 If you have any questions on that, let me know, but we are exploring it 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? 01:12:54.280 --> 01:12:58.280 Like what they liked or what was good, bad, and different 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 01:13:06.280 --> 01:13:10.280 Because I think that's an underutilized asset we have 01:13:10.280 --> 01:13:14.280 First question, film feedback. I asked for some feedback 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 01:13:21.280 --> 01:13:28.280 And so I did ask for some feedback from local filmmakers and from past permittees 01:13:28.280 --> 01:13:35.280 Didn't get a lot of response back, but the response I did receive was good 01:13:35.280 --> 01:13:39.280 And then second question, UNT venues 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 01:13:52.280 --> 01:13:56.280 And then we're going to move on to some live music establishments 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 01:14:02.280 --> 01:14:07.280 Yeah, I had a tour. It's pretty robust. They have some really cool options 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 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 01:14:19.280 --> 01:14:21.280 So they'd be very receptive 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 01:14:27.280 --> 01:14:32.280 But while I didn't hear back about the specifically permit process 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 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 01:14:48.280 --> 01:14:52.280 Yeah, excellent. Thank you 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 01:15:02.280 --> 01:15:07.280 You had one that, hey, we've got three applications for a 50% incentive 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 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 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 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 01:15:42.280 --> 01:15:48.280 [inaudible] 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? 01:15:55.280 --> 01:16:00.280 We got this one number and it's tax revenue or whatever, right 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 01:16:08.280 --> 01:16:10.280 But not an increase in tax base 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 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 01:16:25.280 --> 01:16:26.280 Potential revenue 01:16:26.280 --> 01:16:28.280 Yeah, potential revenue, right 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 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 01:16:41.280 --> 01:16:43.280 Okay, good 01:16:43.280 --> 01:16:47.280 Great, any other conversation or reports? 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 01:16:53.280 --> 01:16:54.280 I'm sorry, Steve 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? 01:17:00.280 --> 01:17:04.280 We've got to get Main Street from here 01:17:04.280 --> 01:17:06.280 Alright, here we go 01:17:06.280 --> 01:17:08.280 Ready to go 01:17:08.280 --> 01:17:16.280 Take your time 01:17:30.280 --> 01:17:34.280 [inaudible] 01:17:34.280 --> 01:17:39.280 Main Street is a preservation-based organization for economic development 01:17:39.280 --> 01:17:43.280 And our four points are economic vitality design, organization promotion 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 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 01:17:58.280 --> 01:18:02.280 First we're going to start with our downtown reinvestment grant, where we are to date 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 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 01:18:15.280 --> 01:18:20.280 Which will allow for businesses within that new boundary to apply for the downtown reinvestment grant 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 01:18:29.280 --> 01:18:33.280 Their fire suppression is on hold until we can find a tenant 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 01:18:42.280 --> 01:18:48.280 Worst case scenario is that grant expires in August of 2025 this year 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 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 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 01:19:08.280 --> 01:19:15.280 But both of those committees approved for a $35,000 grant for their residents 01:19:15.280 --> 01:19:18.280 And if you haven't been to the Plot Twist, I highly recommend it 01:19:18.280 --> 01:19:27.280 They opened to a large first open day with 784 people, so that was fantastic 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 01:19:35.280 --> 01:19:41.280 And then they will come in with an additional downtown closing 01:19:41.280 --> 01:19:45.280 Downtown opening and closing, that's a great subject 01:19:45.280 --> 01:19:48.280 We didn't have a Plot Twist open as I mentioned 01:19:48.280 --> 01:19:51.280 The building station did decide to relocate 01:19:51.280 --> 01:19:55.280 Jesse Otta is replaced by Bidus, so we just did a flip flop there 01:19:55.280 --> 01:20:00.280 Unfortunately, Barley and Board did have the highest job loss 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 01:20:07.280 --> 01:20:12.280 So we have tables in the embassment 01:20:12.280 --> 01:20:16.280 Four businesses started, four businesses closed 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 01:20:24.280 --> 01:20:29.280 So this is an expansion, one of my major focuses this year 01:20:29.280 --> 01:20:34.280 We want to make sure that the businesses that have invested in downtown stay in downtown 01:20:34.280 --> 01:20:37.280 We're going to have an old adage dance with the one that brought you 01:20:37.280 --> 01:20:40.280 We want to make sure those businesses are happy and that they have what they need 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 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 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 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 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 01:21:15.280 --> 01:21:18.280 Parking, obviously we know that's always a subject 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 01:21:26.280 --> 01:21:30.280 The pilot program, we'll talk about that today 01:21:30.280 --> 01:21:35.280 Of course, there's connectivity, the unhoused population, better wayfinding 01:21:35.280 --> 01:21:40.280 Especially for those businesses that are just off of the square, and then marketing 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 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 01:21:53.280 --> 01:21:58.280 Brittany did mention the Public Improvement District that we had a meeting on January 17th 01:21:58.280 --> 01:22:04.280 We're in the data gathering phase, so we've put a feedback survey out 01:22:04.280 --> 01:22:08.280 We've gathered that feedback and we're going to have this meeting April 29th 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 01:22:15.280 --> 01:22:19.280 If the public improvement district does come 01:22:19.280 --> 01:22:24.280 And then Brittany, we do have the downtown master class 01:22:24.280 --> 01:22:28.280 It's a focus on public preservation and the downtown investment grants 01:22:28.280 --> 01:22:35.280 With downtown being an historic overlay district, historic tax credits are very important to those businesses 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 01:22:39.280 --> 01:22:42.280 And then we have a downtown safety meeting on Thursday, April 17th 01:22:42.280 --> 01:22:46.280 Which is going to give an update on the downtown ambassador program 01:22:46.280 --> 01:22:51.280 Brittany will be there also to answer any questions that business and property owners may have 01:22:51.280 --> 01:22:56.280 Any questions? 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 01:23:03.280 --> 01:23:07.280 It's just been heavy on my mind, like all the protests and everything downtown 01:23:07.280 --> 01:23:10.280 What effect does that have on our businesses? 01:23:10.280 --> 01:23:16.280 They always do it on a Saturday, and Argonne doesn't have this problem 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 01:23:22.280 --> 01:23:27.280 You make a good point because of the recent protests that was there on Saturday 01:23:27.280 --> 01:23:31.280 And Boca Police had one 01:23:31.280 --> 01:23:37.280 Surprisingly, those people do stick around downtown and the businesses see an influx 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 01:23:43.280 --> 01:23:46.280 Or people coming to downtown 01:23:46.280 --> 01:23:51.280 But those days in particular, people were out about it 01:23:51.280 --> 01:23:56.280 I know that sounds odd, but they... 01:23:56.280 --> 01:23:58.280 Protesters gotta eat 01:23:58.280 --> 01:23:59.280 Right, right 01:23:59.280 --> 01:24:02.280 And so they were protesting, but they didn't spend money downtown 01:24:02.280 --> 01:24:07.280 We're in a lot of calories 01:24:07.280 --> 01:24:09.280 That's right, I just wasn't sure 01:24:09.280 --> 01:24:12.280 I didn't know the answer, I wasn't seeking it 01:24:12.280 --> 01:24:17.280 I have no idea, but I do worry about that, so that's good to know 01:24:17.280 --> 01:24:20.280 There were a lot going on downtown this Saturday 01:24:20.280 --> 01:24:23.280 Just to watch what was happening 01:24:23.280 --> 01:24:26.280 Once they dispersed, it was pretty good 01:24:26.280 --> 01:24:34.280 Before the recording started, that two-hour window, and then they went and dropped at eight 01:24:34.280 --> 01:24:37.280 You're saying you want more protests 01:24:37.280 --> 01:24:41.280 No, I'm not saying that 01:24:41.280 --> 01:24:46.280 Any other questions for Kristen? Great job, Kristen, thanks so much 01:24:46.280 --> 01:24:50.280 Next up, Jamie 01:24:50.280 --> 01:24:52.280 Welcome back, Jamie 01:24:52.280 --> 01:24:54.280 Can you yield your time, sir? 01:24:54.280 --> 01:24:58.280 Yeah, I'll be quick, it's more business retention and expansion 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 01:25:04.280 --> 01:25:07.280 And kind of what the challenges are, their follow-ups 01:25:07.280 --> 01:25:11.280 I have removed their business names, just for their privacy 01:25:11.280 --> 01:25:14.280 But this first one is a parts manufacturer 01:25:14.280 --> 01:25:17.280 It's been in it for 40 years, they're currently 350 employees 01:25:17.280 --> 01:25:19.280 Up from 200, they're COVID 01:25:19.280 --> 01:25:23.280 They were considering a move a few years back to modern Mexico 01:25:23.280 --> 01:25:26.280 But they decided to stay as they grow and expand here in Denver 01:25:26.280 --> 01:25:29.280 So they're in the process of a $45,000 score for expansion 01:25:29.280 --> 01:25:33.280 About a $14 million investment at 200 employees 01:25:33.280 --> 01:25:35.280 All the things we love to hear 01:25:35.280 --> 01:25:40.280 The challenges they've had are obviously road condition, road signage 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 01:25:44.280 --> 01:25:47.280 And turn and run over some of their trees and shrubbery 01:25:47.280 --> 01:25:52.280 Lack of bus transportation, which we hear from a lot 01:25:52.280 --> 01:25:56.280 We have shared with them incentive information, which they have completed 01:25:56.280 --> 01:26:00.280 The mobility report, which they were glad to have 01:26:00.280 --> 01:26:02.280 And able to help make connections for them 01:26:02.280 --> 01:26:05.280 So they can not only continue their expansion 01:26:05.280 --> 01:26:09.280 But then also meet the right people for this process 01:26:09.280 --> 01:26:13.280 Another one we've been working with is the Fabrication Technology Company 01:26:13.280 --> 01:26:16.280 That's been in town since 1965 01:26:16.280 --> 01:26:21.280 They have a 400,000 square foot facility, around 350 employees 01:26:21.280 --> 01:26:23.280 They've gone through some renovations the last couple of years 01:26:23.280 --> 01:26:28.280 Trying to make their facility 100% renewable energy 01:26:28.280 --> 01:26:30.280 They've created a new customer service center 01:26:30.280 --> 01:26:32.280 And some modern operation training center, demo areas 01:26:32.280 --> 01:26:35.280 They've done a great job in their entrance area 01:26:35.280 --> 01:26:40.280 But they're also having challenges with road work being done and future projects 01:26:40.280 --> 01:26:43.280 They're coming on the horizon for them 01:26:43.280 --> 01:26:47.280 They are on their goal to get 100% renewable energy 01:26:47.280 --> 01:26:51.280 Having some issues with solar panels 01:26:51.280 --> 01:26:57.280 And then also they were preparing for potential layoffs that may occur 01:26:57.280 --> 01:27:00.280 Not that they are occurring, but they wanted to get in front of it 01:27:00.280 --> 01:27:04.280 So we connected them with the North Texas Workforce Solutions Shared Work Program 01:27:04.280 --> 01:27:10.280 Which the Shared Work Program had a meeting with them outside of Brittany or myself 01:27:10.280 --> 01:27:14.280 We've shared with them some serial renewable energy plans and connections 01:27:14.280 --> 01:27:19.280 And the mobility plan, but there's some more work to be done with this group 01:27:19.280 --> 01:27:24.280 Parks Manufacture, a new company here in town 01:27:24.280 --> 01:27:28.280 They started with five employees in 2022, they're up to 50 employees 01:27:28.280 --> 01:27:33.280 They're looking for space to build a headquarters, a campus 01:27:33.280 --> 01:27:36.280 They need more power in their facility 01:27:36.280 --> 01:27:38.280 They're looking for more storage space 01:27:38.280 --> 01:27:41.280 They love to have preferred rates, don't we all prefer rates? 01:27:41.280 --> 01:27:45.280 Their business model is evolving and they're trying to adapt to the changes 01:27:45.280 --> 01:27:50.280 So we've connected them with various economic development partners 01:27:50.280 --> 01:27:53.280 To help find a new space for them, a new location for them to grow 01:27:53.280 --> 01:27:56.280 They have been in a lot of conversations with Municipal Electric 01:27:56.280 --> 01:28:00.280 And then also we felt they needed to get with Christina Davis 01:28:00.280 --> 01:28:02.280 With the city's economic development department 01:28:02.280 --> 01:28:08.280 And help her guide them through a process in their growth and expansion 01:28:08.280 --> 01:28:13.280 The last one I wanted to mention was, it's a premium truck dealer in town 01:28:13.280 --> 01:28:18.280 They've currently still on five acres on a five bay facility, about 50 employees 01:28:18.280 --> 01:28:22.280 They've been going through a process about two years to expand on 10 acres 01:28:22.280 --> 01:28:27.280 And have a 50,000 square foot facility with a showroom, offices, 24 bays 01:28:27.280 --> 01:28:30.280 Increase to 50 employees, all the good things we love to hear 01:28:30.280 --> 01:28:36.280 They've been in permitting for about two years, since September 23 01:28:36.280 --> 01:28:41.280 Not finished, that was one of the main reasons for the visit 01:28:41.280 --> 01:28:44.280 Pushed their completion date back a little bit 01:28:44.280 --> 01:28:47.280 They're concerned about infrastructure and roads 01:28:47.280 --> 01:28:51.280 After that initial meeting with them, we connected them with our city's loan services team 01:28:51.280 --> 01:28:54.280 And they were able to get an answer within an hour to them 01:28:54.280 --> 01:28:57.280 Explaining to them why the process has taken a while 01:28:57.280 --> 01:29:01.280 And helped fast track the process toward completion 01:29:01.280 --> 01:29:05.280 And then we have shared some of our ability 01:29:05.280 --> 01:29:08.280 This is just an overview of what we are 01:29:08.280 --> 01:29:11.280 When we go out and do some business protection and expansion 01:29:11.280 --> 01:29:16.280 And how we follow up with these companies 01:29:16.280 --> 01:29:20.280 It's been good, everyone, no one's been very upset and angry 01:29:20.280 --> 01:29:24.280 Everyone has been helping to put them on the right path 01:29:24.280 --> 01:29:29.280 To get to their completion date or their expansion 01:29:29.280 --> 01:29:35.280 Was that delay in permitting because of a number of changes 01:29:35.280 --> 01:29:38.280 That they had made to what they requested? 01:29:38.280 --> 01:29:42.280 They felt communication wasn't as good as it needed to be 01:29:42.280 --> 01:29:47.280 And they felt that different people were giving different answers 01:29:47.280 --> 01:29:53.280 But we were able to see everybody in the room and talk 01:29:53.280 --> 01:29:56.280 All right, thanks, any questions for Jamie? 01:29:56.280 --> 01:29:59.280 Jamie, thank you. Thank you 01:29:59.280 --> 01:30:04.280 Brittany, future agenda items 01:30:04.280 --> 01:30:08.280 Yes, future agenda items for May 01:30:08.280 --> 01:30:14.280 We will have two potential projects that we'll bring forward for incentive approval 01:30:14.280 --> 01:30:18.280 We plan to cover the RFIs that we are receiving 01:30:18.280 --> 01:30:23.280 We want to get your feedback on much of the RFIs that we should respond to 01:30:23.280 --> 01:30:28.280 Based on their capital investment numbers because what we've heard from the state 01:30:28.280 --> 01:30:33.280 Is that they have unprecedented amount of RFIs coming into the state 01:30:33.280 --> 01:30:36.280 And so you really need to find a way to tackle it 01:30:36.280 --> 01:30:40.280 Because Christina and I are making the decision on which ones to respond to 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 01:30:44.280 --> 01:30:50.280 So we'll bring that to you and the water infrastructure update as well 01:30:50.280 --> 01:30:56.280 Stephen Gay has agreed to present to our board in response to Jeremy's request 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? 01:31:05.280 --> 01:31:09.280 Yes, yes, we can do that for sure 01:31:09.280 --> 01:31:16.280 And then, not now, but my first meeting we entered the city utility department was 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 01:31:21.280 --> 01:31:23.280 Do we know where we stand on any of that? 01:31:23.280 --> 01:31:24.280 On commercial deposits? 01:31:24.280 --> 01:31:26.280 Yeah, there was a bunch of different stuff 01:31:26.280 --> 01:31:30.280 We didn't have to go back and watch the video 01:31:30.280 --> 01:31:33.280 But I don't know if we've ever gotten anything back or feedback from them 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 01:31:37.280 --> 01:31:39.280 I'm not sure if you can add that to that as well 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 01:31:45.280 --> 01:31:53.280 Quick update on the nominating committee, the EDPB nominating committee has met 01:31:53.280 --> 01:31:56.280 And so they have a few board selections 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 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 01:32:11.280 --> 01:32:15.280 And so Steve, this may or may not be your last meeting 01:32:15.280 --> 01:32:18.280 We appreciate all your help 01:32:18.280 --> 01:32:21.280 I just wanted to say that, yeah 01:32:21.280 --> 01:32:25.280 Disappoint you all next month 01:32:25.280 --> 01:32:26.280 You'll miss us 01:32:26.280 --> 01:32:27.280 I will! 01:32:27.280 --> 01:32:28.280 I'll miss you already 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? 01:32:36.280 --> 01:32:40.280 I apologize 01:32:40.280 --> 01:32:44.280 I looked at Aaron and I was like, he looks sweet 01:32:44.280 --> 01:32:47.280 Do you know yourself? Come on 01:32:47.280 --> 01:32:53.280 Alright, now do I read this? 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 01:33:02.280 --> 01:33:07.280 Please complete your Texas Open Meetings Act, TOMA, training as soon as possible 01:33:07.280 --> 01:33:11.280 Email your TOMA to Vanessa 01:33:11.280 --> 01:33:16.280 Our next EDP meeting is scheduled to be Wednesday, May 14th at 11 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! 01:33:22.280 --> 01:33:27.280 TURS 2 special meeting is also on May 14th 01:33:27.280 --> 01:33:30.280 And I'll take about 30 minutes at the conclusion of 01:33:30.280 --> 01:33:34.280 At that time, we'll ask you to move over to training room 5 01:33:34.280 --> 01:33:38.280 And then we'll adjourn from there, because that meeting is 01:33:38.280 --> 01:33:43.280 A meeting that's interoperable for training is scheduled for here, thank you 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 01:33:50.280 --> 01:33:52.280 Thank you everybody 01:33:52.280 --> 01:33:54.280 Thank you