Okay, everybody. Well, welcome to the Economic Development Partnership board meeting.
We'll go ahead and get started. A quorum is present.
All we do in the introduction today because we don't have a chair.
CVEGOR is no longer in the board. We have new board members today.
Let's help welcome our new board members, Amy Bissette, who is now serving as the Ditton Chamber of Commerce seat.
Ron Crockett, who is in the top 20 taxpayer seat.
And Leo Morales in the Hispanic Chamber of Commerce seat.
And Jeremy Fice was previously serving on the Chamber of Commerce seat, and now he's moved to the at-large seat.
So he's kind of nickel-bet.
Okay, so we have a sandwich a quorum, so I'll call the meeting to order at 1103 AM.
Call for presentations from members of the public.
We will now begin with presentations from members of the public.
There are none, so we'll move forward.
Now we will call items for considerations.
We'll now begin with item A, EDP 25-009, receive nominations and elect a chair to the Economic Development Partnership Board.
Amy Bissette.
I'd like to nominate Brian Dantalk. My name is here today as chair.
I'd second that.
Okay, we have a second.
Any other nominations or items for discussion?
Okay, perfect.
Okay, so do we have a vote?
Yes.
All in favor of Brian Dantalk as the chair?
Any opposed?
Great job, Brian.
All right, you want me to take over then?
I'll brush up on Robert's Rules of Order again.
All right, consider item number EDP 25-010, receive nominations and elect a vice chair to the Economic Development Partnership Board.
We have a nomination for Jeremy Fikes. Do I have a second?
I second.
We have a second for Mr. Ramsey.
Do we have any other nominations?
Any other nominations for vice chair?
I should nominate Lee just to make it interesting.
All right, we've got a nomination and a second.
With no other nominations, can I get a vote for consent and approval?
Like I said, it's been a minute.
Any opposed?
All right, motion passes. Mr. Fikes, you are now the vice chair.
Where am I at here?
All right. Item EDP 25-011, consider approval for April 9th, 2025.
So last meeting minutes were in our packet.
Second.
We've got a motion to second. Can I get all in favor?
Any opposed?
All right, motion passes.
Can I get a voice vote from everybody on those?
Okay.
There are just a couple of people saying aye.
The new voters do not vote, right, because we were not here for that meeting.
We vote, yeah.
We vote.
Okay.
Approval of minutes.
All right, we'll do it again.
Approval of the minutes.
Can everyone give us a loud, boisterous aye or no?
Aye.
All right.
Does that satisfy counsel?
Yes.
Excellent.
Thank you.
Hey, don't nominate me.
All right.
EDP 25-012, consider making a recommendation to the city council for approval of an incentive agreement for US cold storage for a 60% property tax rebate for eight years and 75% sales tax rebate for the construction and equipping of the expanded facility under Chapter 380 of the local government code
for an amount not to exceed $1,067,871.
We have some backups.
Good morning.
My name is Erica Sullivan.
I'm the economic development partner and administrator here with the city, and I'll be doing a presentation on the incentive application received from the United States cold storage.
The United States cold storage is a leader in temperature controlled storage and transportation logistics.
Many of the country's largest food providers such as Kraft, Butterball, and Bar S Foods, their existing debt and company that have 37 facilities in 13 states.
The company has been operating for over 126 years.
They started American Ice Company in 1899 and renamed to United States cold storage in 1920 and became a wholly owned subsidiary of John Swire and Sons in 1982.
So some background on their prior incentive.
In 2018, they received a performance based 50% cost share sales tax for construction and equipping of their facility.
This is accomplished through a Texas direct payment through the State Council or public accounts.
It allows businesses to source their purchases from anywhere in Texas to a specific location.
In this case, it was 10.
In 2020, they received their certificate of occupancy.
I also want to note that they are a high end electric user generating over 1.5 megawatts per year, making them a top 25 customer for VET municipal electric.
They received a growth rider from VET municipal electric at that time as well and on the growth rider.
In 2023, we terminated the agreement because they did not obtain a Texas direct payment and filed to their Dallas location.
So our finance department couldn't verify sales taxes or facility.
The current incentive of request for the expansion.
U.S. cold storage is examining multiple site locations, opportunities in Texas.
One of the reasons they were looking at Denton as a potential location is for the support that they've received in the past with their facility to help their growth.
This 100,000 square foot expansion is planned and the request includes the investment in the building, the expansion itself, machinery and equipment.
Here's their current location at 3255 Jim Crystal.
The current expansion will be on the same track to land this 45 acre site to the north and to the south of them.
The key components of the application includes a $35 million capital investment of that $35 million,
12 million is in business, 23 million is in business personal property and 172 new jobs will be created by the project with a weighted average wage of $50,583 for all the conditions.
You can see here that over a four year period, 172 new jobs will be added.
The jobs are approaching the county's average wage of $61,651 and then you can see in the second table this is the MIT living wage calculator
and you can see where the U.S. cold storage $27.68 is higher for the company in the highlighted categories in the one adult quadrant and the two adults.
Here you can see the economic impact report. I'm going to start with the right side of the page with jobs.
So 172 direct jobs are created by the project of that, the indirect and induced spinoff will generate another nearly 112 jobs for a total of 284 jobs.
Moving to the left side of the page, you have the benefits, the cost, the incentive leaving you with the net benefit, less incentives of $1.4 million.
And over that 10 year period, the rate of return is 24.9 with a payback period, that's your nexus of your incentive and your net benefits is 4.8 years.
So I'd like to highlight that. And for those of you that participated in the past in my presentation on the economic impact model,
our model allows us to look at the expansion project plus the initial current facility.
So the actual rate of return, if you look at the whole project, what's already existing and the expanded facility, is 90 percent rate of return with a payback period of 1.4 years.
So we've talked about some of the benefits, quantitative, we're going to go over some of the qualitative benefits.
So this is a business retention expansion. We're trying to grow businesses and helping them expand here in Denton.
So 148 jobs are retained and 172 new jobs are planned. Cold storage is in our connected strategic growth area sector and they are key to the supply chain of cold storage.
US cold storage is also a sustainable partner. Their CO2, according to their report, emission reduction of 11.4 percent.
They also have a goal to reach net zero emissions by 2050 and they also have food, waste and sustainability programs.
Again, they are a they do generate high utility usage. They didn't qualify for an economic growth rate at this time.
Did you have to actually generate another additional megawatt?
The DME said that they would look at the facility again once they were in operation if they think they might be close to that.
Here you see the incentive and project revenue generation.
The first table is a performance based 60 percent property tax rebate on improvements in business personal property for eight years.
That's 981,970 sales and use tax rebate for construction at 75 percent.
This is a one time estimating will come on in about a year or two after they receive a CEO for the 100,000 square foot expansion.
That would be 85,901 for a cumulative incentive total of a little over a million.
You'll see the city revenue that 40 percent on improvements in BPP for eight years and additional two years at 100 percent.
And then the sales and use tax for construction rebate sales taxes we wouldn't otherwise receive through this program of 25 percent.
That means it would equal 28,634 for a cumulative city total of a little over one million as well.
And then on the bottom you can see the land improvements and business personal property valuation on that left side.
You get the current valuation, the estimated increase and then the total valuation on the last three columns.
You can see the revenue, the estimated increase in revenue from just the expansion alone and then the total estimated revenue on the project.
So our incentive recommendation today is a performance based ad valorem tax rebate at 60 percent for eight years.
Sales and use tax for construction rebate for the construction and equipping facility at 75 percent.
The agreements will include valuation thresholds and caps as well as timely completion dates.
And then once you receive an incentive at their category of jobs and valuation, it would make them eligible for the state program, the Texas Enterprise Zone program.
We have six nominations per biennium and we have offered to nominate them should they pursue that.
So the staff recommendation again is an eight year performance based chapter 380 grant not to exceed one million sixty seven eight seventy one.
And the next steps, it's gone to city council for a closed meeting to give us direction to move forward.
If you recommend it here, it would go back to city council for individual consideration.
We're planning June 3rd if possible and then we would execute the agreement following that.
With us today, we have two members from cold storage.
We have Carlos Stern, vice president and regional manager.
And then we have Arnold Tanaka, general manager of the Dutton location.
We'll be happy to answer questions.
Just a quick question. What happened on the termination of the agreement when we terminated in 2023?
Okay, so it was just the sales and use tax construction since they didn't obtain the permit and we couldn't verify the sales tax as we terminated.
So nothing was granted. Nothing was given.
Nothing initiated at that point. Are they able to retroactive and do that?
I don't believe so. I'm looking to our legal counsel to see if they retroactively get sales and use tax construction.
The state comptroller can go back multiple years and audit.
So I would imagine possible, but I don't know. We'd have to look into that.
So by them filing it in Dallas, does that mean the money went to Dallas as opposed to here?
They filed jointly so we couldn't separate it.
So on the confidential reports from finance, they received two codes, 26 and 28, one for the regular sales tax, one for the Texas Direct Pay Permit.
They couldn't verify on either. They couldn't fund them at all.
So we never received any revenue from the sales tax that went to Dallas, so therefore there is no...
We can't reimburse or cause share funds we don't receive to be good stewards, certainly.
And they didn't fulfill the agreement by not obtaining a Texas Direct Pay Permit.
So going forward, is there a risk of that on this? No one?
Well, again, we've provided the application. We provided technical assistance on that.
I know they are also using a consultant. We provided them with the same genovus, the same information.
I just had a quick question. I mean, you guys have something in place now to make sure that if we approve that, that we've got stop blocks in place so that doesn't happen?
I think that is confirmed, but I think having these two colleges be a part of the conversation with our finance team up in...
I support it. I just want to make sure that if we go through this approval again, you know what I'm saying,
we've got to ensure that the camera has got that.
I couldn't answer that question just in terms of making an agreement right here.
I'm saying that there's something in place, but I don't think that that's out of the question.
So based on their structure, legally they can pay either in Dallas or here. It doesn't matter?
It's how they file, and I know they file a little bit differently.
They report a little bit differently than most of our taxpayers. I did find that out in the process. They report ahead. They prepay.
We used to probably speak a little bit better than this, but my understanding is in order for them to be able to actually collect the sales tax in Denver from sourcing construction materials,
they have to set up a specific permit, and that's what didn't occur.
[inaudible]
It's extremely easy to administer once they set up that Texas Direct Pay Permit.
Like I said, it appears on a separate code, and it's set up before the financial service review, and we've done that for several, for Winko and for O'Reilly.
Can you maybe go back to that summary, because that's just unfortunate, right?
Yes.
I just want to make sure.
So there's an ad morum for 60%, and then there's 75% one time for estimating year two after they receive their CEO of that $85,900.
[inaudible]
Any other questions?
I'll move for approval.
I got a motion for approval.
Can I get a second for approval?
Second.
Second?
I got a motion and a second.
Any discussion?
Any further discussion?
All right.
Can I get a vote?
All in favor, say aye.
Aye.
Any opposed?
All right.
I'm stating just to be consistent as I get another fight out.
Go ahead.
I'm supporting.
Good.
With that, the motion passes.
The board makes a recommendation to approve.
Thank you for choosing them to expand it.
[inaudible]
Now for item EDP 25-013.
Consider making a recommendation to city council for approval of an incentive agreement for Mayday Manufacturing Company for a 60% property tax rebate for 10 years and an expansion grant under Chapter 3A.
With a local government code, they amount not to exceed $577,944.
Yep.
Backup materials.
[inaudible]
A little bit of background.
Mayday Manufacturing was founded 49 years ago.
It is a world leader in building and manufacturing of space kitchens, kins, seas, and turned-out parts.
They have created over 1,000 different part numbers of hundreds of different companies from 18 countries.
In 2016, they were acquired by Esco Technologies alongside the CapEx plating shop HiTech Finishing, which is actually part of the family business.
In 2022, HiTech was absorbed by Mayday and become a part of their business.
Another context for a previous expansion.
They were originally incentivized in 2012.
At that point in time, that was an $8.5 million expansion.
[inaudible]
That was a 10-year deal that expired after 10 years.
In March of 2025, just two months ago, staff received an application from Mayday for a new expansion that is due to increased demand and trying to improve their capacity to meet their clients' demands.
They're planning to expand their facility footprint by 45,000 square feet.
The plan is to ideally break ground between the Y of this year and ideally finish construction sometime between December of 2016 and February of 2016.
Just to put you in context of where we are, this is at 3100 Jim Crystal Road.
That's our current operations.
That's right down to 380 and off the road to 35.
This is what we currently have happening there.
It's a current operation both on the outside and inside.
And in the top right, once again, if you look at that star in the outline, the red lines there, that is the planned expansion.
Basically, just put it in the footprint, make it a little bit bigger with that 45,000 square feet expand operations.
The similar benefits to the last proposal, the business retention and expansion deal, it supports the industry manufacturing leader within the Denton region.
Additionally, they play a pretty integral role within the aerospace supply chain, working with a variety of clients in a variety of parts, multiple different nations.
And it also helps out with the local workforce.
They employ around 400 at their Denton facility with a mean salary that's greater than the city's average.
So to be able to support those existing jobs as long as it's alongside some of these new jobs.
So the expansion itself would be $14.5 million.
That would be divided between $9 million in terms of construction improvements, $5.5 million for business personal property, and then directly that would help support 50 new jobs for May Day.
And this gives you a summary table similar to the last presentation of current valuation, current revenue, and how this would help increase.
So outside of that $14.5 million we've already talked about, basically what that leads to is a total of almost the sky of $85,000 in annual tax revenue added, bringing them to a total of $281,000.
That's revenue between real and business personal property. And the incentive terms that we're specifically proposing here is a 60% rebate on these new improvements in BPP.
Again, that's added value. So we're only incentivizing basically what the expenses are.
So the estimated total for that over the 10-year deal is $552,945.
Alongside that, we're considering a direct expansion grant of $25,000, bringing the total incentive number to $577,000.
Some of that job and wage information for those 50 new jobs that you're talking about includes an annual payroll just over $27 million, salaries ranging from $45,000 to $65,000.
And you get a range of roles there for their different options between platers, paints, quality control, max effects, geniuses, just expanding operations and helping with the same activities.
And then here's that same economic impact report. It gives you an idea of on the expansion alone, what the payback period and the return is.
Specifically, Impact Data Sorts estimates that this would be a 4.3-year payback period with a 21.3% rate of return and net benefits less incentives of $552,000, a little bit more than that.
Again, like Erica said, we have the option to include retention as a part of this calculation, and we consider this a retention deal. That payback period drops to 1.2 years, and it's a 77.7% rate of return.
So staff recommendation is option number one, a 60% rebate on new business version of property and real property taxes, 10 years up to $552,924, and a $25,000 expansion grant.
And that staff recommendation drops to number one. The next steps, very similarly, would be City Council and individual consideration on June 3rd, followed by the execution of new business. Any questions?
And I'll also mention real quick, we also do additionally have Corey Peeples, the Director of Finance, and Chad Leach, the Senior VP and General Manager from Mayday here. In case any of the questions are too tough or...
Welcome. Thank you.
I don't have a question, but I do have a comment. This particular company has put substantial money in the LeBron Career and Technology Center up north of Loop 288.
And the last time I knew, when I was previously on the board and on that committee up there, they were offering scholarships to students to come work for them, and they would put them through college over the four-year period.
So they do substantial other things to help the economy in this community. Very good partner.
I'd like to add to that, you know, when they came to town, they used local contractors to build their expansion when they came to town, which means a lot to our community and a wonderful company to work with.
If you've ever seen a Navy jet slam on a carrier, they make the landing gear for them. That's amazing.
Thank you guys for staying in our community.
So I got a comment. I gotta be creative on how I'm going to word this because it's not specific to this one, but I've got it, I think, under this deal.
If we have a proposal that's coming through and we have a history of not using one of the incentives or not fulfilling the agreement, I think we should show the return on investment two ways.
One, if it includes both of the incentives or what it is if they don't fulfill their obligation on IE sales and we just pay the other to see if it's materially different.
I think the council would appreciate to see that to make sure that one's not slanted and when you put them together, it is more of a return.
Kind of gives you a band of risk. Right.
If we give it all to them, but then they meet the criteria of one and they don't the other and the two combined gives you a point in return.
And then but one gives you a bigger, a smaller return as a city. You know, it could change the decision making process when it gets to council or whatever.
Right now, since we're under this topic, I'm talking in general terms, but I think we all know what is bringing what made me think of that.
I'm just trying to start the legal aspect on the corner of the table.
So I have a motion to approve or to recommend the approval to city council.
Second second second. All right. So I got a motion and a second. So all do I have any further discussion.
All in favor of the motion, please say aye.
Any opposed.
Motion passes. Yeah.
Thank you. Thanks. Thank you. Thank you.
Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you.
Hello. Good morning.
Good morning.
Thank you.
thank you.
Thank you.
But where those leads are generated from is going to be different and closer.
I show how much it's been vetted or not.
Second thing I'd say is talking about utilities.
Scott McDonald, he's on the curve here.
He's working hard on that.
There's a large sewer project that we're actually involved in with the city.
And Scott McDonald and the utility departments are getting ahead of the curve.
They're looking at joint, how the city can work with developers and
fund those things together on oversizing and working on getting the easements.
We're working on a project right now.
We're going and getting all the easements for a joint project with us in the city.
And the sewer line, we've run all the calculations for our whole sewer basin.
So Scott's doing a really good job of looking at a bigger picture than just one project.
And he's looking at what the future land use plans are in those areas.
And the utility department is too, sizing these utilities for
that future land use of stuff that could be an ETJ, could be in the city limits.
And he's doing a great job of planning that.
Some of those things are gonna be before city council soon.
And we're gonna really be able to see if what,
cuz what you're saying is happening right now.
And so we'll see that support which I believe it's kind of a no brainer.
I think we'll see the support from council on these things.
The second thing is on water, we're looking at some of these districts that
are outside in the ETJ, mud districts and those kind of things.
He's actually being, we work in, I got projects in probably nine cities right now.
And Scott McDonald is way more aggressive, and our utility department is way more
aggressive on going, how do we get the right infrastructure in place for
long term here?
So there's some large, very large water line projects being worked on right now
that are gonna be funded in different, maybe some creative funding ways between
districts and city to be able to get that done.
So for the first time in a long time, I would say we're actually got that vision.
>> Well, I mean, I don't know the whole picture like you probably do, but
I just know there's examples that we've had meetings on that are contrary to what
you just said.
>> No, I understand, it can only be done once, right?
>> So that's a challenge and it has to do with stuff that's in the ETJ.
It has to do with stuff where people can't tap in and there's a line there.
Or the manual project you guys talked about before, so
I think there's plenty of examples that contradict that too.
>> But I'm telling you, there's things that are working awesome, right?
You may have these specific projects that one project, okay,
it's not viable for the city to bring a whole water line from one project, right?
But if you have a whole regional area and making a large investment, I mean,
I can tell you 50 of them that I've done that didn't work because utilities, right?
But I think what the concept that we're looking at now
is we're looking at mass areas, right?
And as I'm on both sides of this fence, I think I would rather see the dollars
spent to provide service for large areas and then get it close, right?
And then we can come off to some of those things on 380.
What I'm talking about is what you're talking about on 380.
That's a problem going out 380.
And so I think if you're looking at how Scott and
some of the team are looking at the overall picture to get the main chunk lines in,
then those subsidiary things will start happening because it's at least within two
or three miles.
>> And I think that's exactly what we asked for in the water, the overlay,
where the demand is and then where the capacity is or excess capacity.
Hopefully that's what the city is gonna bring to us next month is that what is our
excess capacity so we can look and see, these are the developed areas we wanna
develop, like mass areas, I agree with that.
And then, what's our excess capacity for that area?
The gaps don't, it doesn't match.
>> 100%, I think we've gotta analyze that as a city, and
I think hopefully they're doing that.
And the master water plan that the city has already done,
they already have that information.
It's not like we're asking them to go do a whole new water study.
They've done a master sewer and water study.
Kimley Horn did it for the city out of Fort Worth, and so we have that.
But putting those heat maps and things like that together to be able to make
somebody that doesn't understand gallons per day or sewer flows.
And it takes forever to get your mind around all that.
But some of the things you're asking for so that a city council member or
a planning and zoning member can see that easily, we do have, yes or no,
we do have extra capacity, we have capacity for this many years in these areas.
So let's focus where we need to spend our dollars.
But to my original point is, it may not be in the exact locations that we site
this 20 acre site or this 50 acre site, but
some things that are going on right now are very positive.
Especially on the west side of town, where is our most advantageous to develop.
From Denton to the county line, you go east, you got the lake, you go north.
There's some opportunity north.
There's some headwinds on the neighborhoods out there that what they want to see for
development, so there's some headwinds going north.
South, I think we know we're full up, we're not going very far south.
So if you look at what's the most advantageous for development for
Denton other than infill, I'm a big infill guy too, infill.
But if you're looking at where it's gonna expand, because as a developer,
we look where it's most cost effective, right, infill's tough.
I love it, we still do it, but it's gonna be west.
And that's where Scott McDonald and the engineering team is spending a lot of time
on getting major water lines and sewer line extensions in capacity.
And the city's done some big projects actually from Western Boulevard,
all the way back under 35W.
They've been working very quickly, when I say very quickly on the city terms,
not my terms, as quick as the city can move to get those lines upgraded.
Down underneath by the airport, back down with Coal Ranch coming in.
There's been a lot, so it pains me to say, but
there is a lot of really good things happening in long term.
>> Why does it pain you so much?
>> Because it takes five years to get it done, we need to celebrate the wins, right?
This is to celebrate the win, but so there's a lot of good things happening to your point.
I think if we could demonstrate these things in a map, like you're saying,
I think it would, if we talk about the work we're doing,
I think it's gonna change some of that perception.
I think we just need to show some of that work that's happening, and some of the wins.
And I think it'll change some perspectives.
>> Is it funded?
>> It's gonna be coming to city council to get funded, that's what I was gonna say.
>> To get it funded, I think we're gonna have to show why it should be funded.
And you're gonna need all that information to do that.
>> That's right, and I think they have it, I think cuz I know for
the projects I'm working on, we've done studies for the whole drainage basin.
To say, okay, do we need an 18 inch line, do we need a 21 inch line, 30 inch line?
We've done the whole basin study, not just for our project.
And so I think those are positive things, so we need to celebrate those.
And I don't think we've talked about those things enough,
the good things that are going on.
>> I know Lee and Amy serve on the development, so there's a separate
committee going on to talk about future developments.
But I think for our board, I have no doubt that those discussions are going on.
But I think for our board, maybe we start identifying parcels that we can actually
start recruiting manufacturers in, and then we actively market those sites to come in.
Because what happens is the landowner may wanna sell it pretty quickly, or
the program may have other ideas.
And so we can probably pitch a certified site program,
which is a shuttle ready site that I've been using in Corpus Christi.
Previously, I didn't think they were successful, but
Corpus Christi is a great example of how those are potential where it can be
beneficial in economic development.
Because if you do have a green cell site, what's the highest and best use?
Is it warehouse space, or is it a manufacturer where you're gonna get
ad valorem, you'll get sales tax, and you'll get jobs?
With warehouse space, sometimes you'll get the ad valorem, but
then you may just get a service company that may not create as many jobs.
And so from our perspective, we would love another Peterbilt here.
But it's gonna take the work of all of us to get that done, so.
All right, that's all I have, any other questions, sir?
>> Yeah, just a comment, yeah, it makes all the sense in the world to
invest proactively where our future land use map tells us we wanna go.
Make those investments and then market in a coordinated way.
My question is, also building on your point, if in fact the conversion is so
much stronger, which I expect to be right, off of brokers versus, say,
the general ones that have three income sources.
Do we have a program where we are marketing and
selling specifically to members of brokers?
It must be a finite universe, I don't know, it might be zillions, I don't know.
>> That's a great question, and that's why we try to attend as many local events as
possible so that we're meeting with them.
We do try, Christina has it really, she reaches out to them often to ensure that
their sites are still available, and to kinda get a know of what's going on.
But we could do a better job, especially networking with the site selectors.
And so that part of my first year was mostly getting the administrative work
together, getting operations together, and so, but that's the next phase of what my
role will be, is reaching out to more of the regional partners, so
we make sure that we're getting the leads.
And that's why I'm going with the Dallas Reno Tamer, thank you.
>> I mean, just a super thought, I can imagine a cycle where you just try to
cover a particular universe of brokers, just taking leads to make them,
just to heighten their awareness of what we have thought, two minutes.
>> I think if we go back and do some forensics, though, right?
You're gonna have all that added, you know the stories, right?
Ones that have been successful, you know the stories of ones that have been unsuccessful,
and you start mining those with those specific topics in mind, right?
What things can Denton do?
What is making Denton attractive when you exploit those things, right?
Based on the successful companies or whoever you want here,
you'll be able to tell that through your data, so just encourage,
continue to look through the data and help us to inform our decisions with that history.
>> To build on top of that, you can just use Western Boulevard as one example.
Just look at, the city spent the money to put one road in, and a water line,
and there's an existing sewer, and you just say what was the investment of that road,
and that water line, and then look at then the amount of improvements that,
if I was presenting to the city council asking for a sewer line extension,
I would just say, okay, we spent this many dollars on a road,
and half of a road, not even the old road, half of a road, and a water line,
and look at how many thousands of square feet, maybe millions of square feet,
I know it's millions of square feet that we got by making that investment.
So that shows if we just get a little bit ahead of it and get enough,
that it can have a large return on a number of jobs.
That may be a good, what do you know?
>> You can go spend a fair amount of money on that road as well.
>> On the other half.
>> Yes, we did.
>> That's right.
>> Well, thank you for all your wisdom and advice.
This is helpful for us because we do need your help.
We often want to call you.
We call you a lot, actually.
We call a lot of our board members, so thank you so much.
I know we have our TURS 2 meeting at 1237 minutes, so I'll let you take a break.
But, oh, how's everything going?
>> Oh, I think our last item is just future agenda topics.
This slide is a little different than what we're going to mention.
There's a few things.
So for the June item, we have the water infrastructure item coming back.
A couple placeholders for additional incentives will be brought forward.
If we can get them through the additional due diligence staff is doing.
The update on the RFI or the RFQ that Brittany mentioned previously.
And another item for June that's not listed that I wanted to call to your attention is
that in a prior meeting, we had a work session on rolling over incentives, expiring incentives
from the Catalyst Fund, from the general fund to the Catalyst Fund.
We held the work session with city council last week, and they provided a recommendation
to move forward with that.
So we're working on drafting that ordinance, and at one of the upcoming meetings, we'll
bring that forward for a vote of individual consideration and then council adoption.
So where we landed from your feedback is to recommend that the incentives be evaluated
annually through the budget process to roll the entire expiring incentive or a portion
of it.
So giving that conversation for council to have annually and elect to move those over.
And the estimated growth for that fund is about $9 million over the next nine years.
A date on the utility department for my chain room.
Yes, I checked in with Tony Puente, the general manager, he's going to provide me a date of
when they can follow back up on the commercial deposits for utility accounts.
So yes, they have it in queue, they were doing their study and I believe he should be able
to come in July or August.
Is there any other concluding items for this meeting?
I do not need a motion to adjourn the meeting, correct?
I do not.
We do not.
All right.
With that, we can close until our 1230, and I'll see you all back here at 1230.
Thank you very much.