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IT'S FROM OUR MINUTE,

[00:00:02]

THE MINUTES FROM

[Tax Increment Finance #3 Meeting on August 11, 2021.]

OUR MEETING ON JUNE 9TH, 2021.

UM, CAUSE EVERYBODY HAD A CHANCE TO REVIEW THOSE.

MR. CHAIR, I I'M, I'M GOOD WITH THE MINUTES I APPROVED THAT WE ACCEPT THEM THE MINUTES AS PRESENTED.

I'LL SECOND THAT PLEASE.

ALL RIGHT.

WE HAVE A MOTION BY MR. PERRY AND MR. DUCKWORTH IS SECONDED ALL IN FAVOR.

HI.

HI, ANYBODY OPPOSED? I JUST HEARD, UH, PAT, I JUST WANT TO GIVE KUDOS TO MATT AND HIS TEAM AND JUST JUSTIN, THE TEAM MEMBERS OF THE CITY OF GARLIC.

THEY DID AN EXCELLENT JOB PUTTING THIS NOTEBOOK TOGETHER.

IT'S FANTASTIC.

THAT WAS, THAT WAS MY NEXT THING.

EVERYBODY SHOULD HAVE GOTTEN A NOTEBOOK BY NOW THAT IS LINED OUT AND IT LOOKS GREAT.

UM, SO YEAH.

GREAT JOB.

YEP.

THE NEXT ITEM ON OUR AGENDA IS INTRODUCTIONS.

I'M GOING TO LET MR. REX HAVE THAT ONE.

WELL, THANK YOU.

UM, WE HAVE ONE NEW BOARD MEMBER WANTED TO INTRODUCE PHILLIP JOHNSON, WHO IS REPRESENTING DISTRICT FOUR.

UH, PHILLIP, WE'RE GLAD TO HAVE YOU ON BOARD.

I HAVE TO BE HERE GLAD TO BE HERE.

SO ANYTHING YOU WANT TO TELL US, MAYBE TELL US A LITTLE BIT ABOUT YOURSELF AND, UM, ANY, ANY THOUGHTS OR QUESTIONS YOU'VE GOT AND I'M JUST GLAD TO HAVE YOU ON BOARD QUESTIONS RIGHT NOW.

I'M A GARLAND NITEL GRADUATED FROM HIGH SCHOOL, UM, RECEIVE A BACHELOR'S DEGREE FROM GRAND CANYON UNIVERSITY SPENT ABOUT TWO YEARS WITH THE CITY OF GARLAND PARKS AND RECREATION DEPARTMENT.

UM, INTRODUCED MYSELF TO THE CURRENT COUNCILMAN BJ WILLIAMS, AND I WAS IMPRESSED WITH HIS TENURE WITH THE CITY AND HE GAVE ME AN OPPORTUNITY TO BE SERVED.

SO HERE I AM.

AWESOME.

HAPPY TO HAVE YOU WORKING FOR A GOOD MAN? YES, SIR.

YEAH.

UM, IF I CAN MENTION ONE OTHER THING REAL QUICK.

UM, MR. CHAIR, UH, SO THE BINDERS THAT WE SENT OUT, GLAD EVERYBODY GOT THOSE.

UM, THAT WAS ACTUALLY A COUNCILMAN WILLIAMS IDEA, UH, FOR ALL OF OUR, OUR TERM TIF BOARDS.

UM, YOU KNOW, WE, WE DIDN'T REALLY HAVE KIND OF ORIENTATION MATERIAL AND SO NEW MEMBERS LIKE MR. JOHNSON, WHEN THEY COME ON BOARD, UH, WE'LL PROVIDE THEM THIS INFORMATION AND IT'S JUST, UH, YOU KNOW, JUST KINDA GOOD OVERVIEW OF, OF WHAT, UH, WHAT THE TIF IS.

SO YOU'VE GOT THE BOARD ROSTER, UH, THE, THE, THE TIF ORDINANCE, UM, THE, THIS WAS THE ACTUAL ORDINANCE THAT CREATED THE TAX INCREMENT REINVESTMENT ZONE AND SET UP THE TIF.

UH, THERE IS THE MAP OF THE TIF BOUNDARIES THAT'S IN THERE.

UH, IF YOU REALLY GET TIRED AT NIGHT AND HAVE A HARD TIME FALLING ASLEEP, YOU CAN READ TAB NUMBER FOUR, WHICH IS THE STATE STATUTE GOVERNING, UM, OUR TAX INCREMENT FINANCING ACT.

UM, SOME GOOD READING THERE, BUT, UH, SERIOUSLY THOUGH, IF YOU DO THAT, IT'S, IT'S WORTH A READ IF YOU REALLY WANT TO FIND OUT ABOUT TAX INCREMENT FINANCING IN TEXAS.

AND WHAT'S YOUR ROLE IS AS A BOARD MEMBER AND, UH, WHAT YOU NEED TO DO IF YOU WANT TO EXPAND THE BOUNDARIES, OR IF YOU WANT TO SET UP, YOU KNOW, EXTEND THE DURATION OF A TIF.

UM, ALL OF THE, ALL OF THE LAWS THAT WE OPERATE UNDER ARE IN THAT, THAT CHAPTER THREE 11 TIF, UM, ACT.

SO IT HAS BENEFICIAL.

IT'S A LOT OF READING AND DEFINITELY LEGALEES, BUT, UM, IT'S, IT'S HANDY AND WE'LL GIVE YOU A GOOD SENSE FOR WHAT TIPS LOOK LIKE.

UM, THE CURRENT TIF BUDGET IS IN THERE, AND THEN OF COURSE THE, UM, PROJECT AND FINANCING PLAN IS IN THERE AS WELL.

SO, UM, WE'LL KEEP THIS, OF COURSE IT'S, UH, IT'S GOING TO BE A LIVING BINDER.

SO AS THE ROSTER GETS UPDATED, WE'LL EMAIL THAT OUT.

UM, IF WE AMEND THE PROJECT AND FINANCING PLAN WILL GET YOU NEW COPIES OF THAT TO INCLUDE IN THE BINDER AND REALLY JUST WANT TO KEEP THIS UPDATED.

SO YOU GUYS HAVE IT FOR, UM, FOR THE DURATION OF YOUR TERM ON THE BOARD.

SO I THINK THAT'S IT THAT'S, UM, AS FAR AS INTRODUCTIONS GO, THANK YOU, MR. CHAIR.

UM, ONE THING IS TONY JUST SENT ME AN EMAIL SAYING HE'S BEEN TRYING TO GET IN AND HE CAN'T, UH, HE'S SAYING YEAH.

IS BASED ON THE WRONG PASSWORD.

OKAY.

UM, RENEE, ARE YOU ON, OR IS THIS KARMA? I WILL TO SEE IF I CAN GET HIM CONNECTED.

ALL RIGHT.

THANK YOU, KARMA.

SO THANK YOU FOR JOINING US IF I MIGHT, UH,

[00:05:01]

I HAVE FOR EXTRA QUESTION THE OTHER NIGHT, IT'S A MEETING IN THE, SOME OF THE INFORMATION THAT MATERIAL THAT YOU SENT US.

IT TALKED ABOUT A COUPLE OF BUILDINGS THAT WERE GOING TO BE TAKEN DOWN, UH, POSSIBLY TAKEN DOWN AS PART OF THIS PLAN.

AND, UH, YOU MIGHT SHARE THAT WITH THE COMMITTEE.

YEAH, ACTUALLY I WAS GOING TO SHARE THAT AS PART OF THE MEDICAL UPDATE.

IF, IF WE WANT TO DO THAT, I WAS PLANNING TO TALK ABOUT THAT.

OKAY.

I'M SORRY.

NO, NO, THAT'S ALL GOOD, BOB.

SO I GUESS WE'LL MOVE ON TO NUMBER THREE, REVIEW PROPOSED FISCAL YEAR 2022, TIP THREE BUDGET.

UM, KICK THAT ONE BACK TO YOU AND MATT.

ALL RIGHT.

THAT'S ALL YOU, MATT, TAKE CARE OF THIS ONE.

PHILLIP JUST GOT EXCITED.

YEAH.

NUMBERS.

THAT'S WHAT I DO FILL UP FOR THE ONLY ONE THAT DOESN'T KNOW ME.

I'M MATT WATSON.

I'M THE FINANCE DIRECTOR HERE AT THE CITY.

AND, UH, SO I MOVED OVER BUDGET FINANCE AND PURCHASING.

SO I'M TYPICALLY THE ONE THAT HANDLES ALL OF THE REVENUE EXPENDITURE.

ALL THOSE TYPES OF NUMBERS ARE QUESTIONS RELATED TO FINANCING AND WHATNOT.

AND THEN, UH, YOU KNOW, JUDD IS HE'S, HE'S MORE OF THE ECONOMIC DEVELOPMENT GUY AND, AND THE REAL MEATS OF THE BONES AND EVERYTHING WITH THE TIFF.

SO IF YOU HAVE ANY NUMBER OF QUESTIONS, YOU CAN ALWAYS REACH OUT TO ME AND, UH, BE HAPPY TO EXPLAIN HOW REVENUES ARE GENERATED AND, UH, THAT THE EXPENDITURES THAT ARE OCCURRING AND WHATNOT.

BUT WITH THAT, I'LL JUST JUMP RIGHT INTO OUR BUDGET.

WE'RE WORKING THROUGH OUR PROPOSED BUDGET RIGHT NOW WITH CITY COUNCIL.

AND WE DO HAVE A TIFF THREE'S IN THE BUDGET.

THERE ISN'T ANY EXPENDITURES AT THIS MOMENT.

UM, WE HAVEN'T QUITE REACHED THAT THRESHOLD YET TO, UH, YOU KNOW, KICK OFF ANY DEVELOPMENT OR ANYTHING WHERE THE TIFF'S PARTICIPATING, BUT, UH, I THOUGHT IT WOULD STILL BE BENEFICIAL TO KIND OF LOOK THROUGH THE REVENUES.

SO I'LL SHARE MY SCREEN REAL QUICK.

I JUST WANT TO SAY WE DON'T HAVE THAT INFORMATION, DO WE? NO, YOU DON'T.

OKAY.

AND I'LL SEND EVERYONE A LINK TO THE BUDGET SO THAT Y'ALL CAN SEE THIS, THIS DOCUMENT I'M SHARING THE WRONG SCREEN.

I THINK LET'S SEE.

LET ME TRY THAT AGAIN.

WE HAVE A MEDICAL SUMMARY IN OUR BOOK, CURRENT BUDGET SUMMARY.

YEAH.

ON MY SCREEN RIGHT NOW.

THAT'S RIGHT, MATT, I GOT IT.

SORRY.

IT'S LOOKS A LITTLE DIFFERENT THAN IT TYPICALLY DOES.

MAYBE I'VE BEEN OUT OF THE ZOOM LOOP FOR TOO LONG.

ANYWAY, THIS IS A LOOK AT WHAT'S IN THE PROPOSED BUDGET FOR FY 22.

SO YOU SEE IN ALL TO START WITH THE ACTUAL IS CALLING ME NOW, THAT'S KIND OF WHEN THE TIF FIRST STARTED KICKING OFF AND RECEIVING INCREMENTAL REVENUE AND TO REMIND, UH, THOSE TIF MEMBERS THAT HAVE BEEN AROUND SINCE THE BEGINNING AND THEN, UH, KIND OF AN UPDATE FOR PHILIP, UH, THE CATALYST OF THIS ENTIRE TIFF IS THE RIVERSIDE COMMUNITY.

UM, AND THEY STARTED GOING ONLINE IN 1920 WITH TAX REVENUE.

UH, WE ANTICIPATE BY THE TIME THEY FINISHED PHASE TWO OF THAT DEVELOPMENT, THAT'D BE ROUGHLY $1.3 MILLION EVERY YEAR GENERATED.

SO THEY ARE TRULY THE CATALYST.

UM, WE DID UPDATE THE FINANCE PLAN AND EXPANDED THE TIF STARTING IN THIS TAX YEAR, 2021 TO INCLUDE THE VA HOSPITAL, THE VA HOSPITAL, AS YOU ALL KNOW, IS A TAX EXEMPT ENTITY.

SO IT WILL NOT PRODUCE A REVENUE.

THE WHY WE WERE WAITING TO EXPAND THAT IS, UH, AT ONE TIME IT WAS THE BAYLOR HOSPITAL AND WAS A TAXABLE PROPERTY.

SO WE WERE WAITING FOR THAT PARTICULAR PROPERTY TO REACH ITS LOWEST POINT BEFORE WE INPUT IT INTO THE INCREMENTAL REVENUES SO THAT IT WOULD NOT BURDEN THE TIFF WITH LOSS REVENUE.

SO WE DID DO THAT AND IT IS NOW IN THE TIPS OR THE TIF DOES NOW INCLUDE THE RIVER SET AREA AND THE AREA AROUND THEY BIGAY HOSPITAL.

AND SOME OTHER THINGS I WANT TO APPLY.

NOW, YOU SEE IN THE APPROVED AND REVISE CALLS FOR 2020, A HUNDRED AND EIGHTY ONE FIVE, SEVEN, EIGHT, THAT WAS THE FIRST INCREMENTAL OR NEW PROPERTY THAT THE TIF HAVE RECEIVED.

AND THAT WAS BASED ON ALMOST STRICTLY THE RIVER SET AREA.

AND THEN YOU SEE A HUGE JUMP IN 21, 22.

I BELIEVE I ORIGINALLY HAD PROJECT AND WHAT'S IN Y'ALL'S TIF PLAN IS FOR REVENUE TO BE ABOUT 300,000.

WELL, THE RIVERSIDE COMMUNITY IS, UM, UM, AND Y'ALL WILL LEARN THIS ABOUT ME.

I'M USUALLY PRETTY CONSERVATIVE, BUT THE RIVERSIDE COMMUNITY IS GETTING, UH, ITS BUILDINGS AND ITS RESIDENTIAL AREAS OUT THERE FASTER THAN I PROJECTED.

SO WE ACTUALLY HAD ABOUT $48 MILLION OF NEW CONSTRUCTION ADDED TO THE TAX ROLL THIS YEAR, WHICH GENERATES ABOUT 300,000.

SO THAT'S WHY YOU SEE FROM THE 2020 21 BUDGET TO THE 2122 BUDGET, SUCH A LARGE INCREASE.

[00:10:01]

AND WE'LL SEE A FEW MORE OF THOSE WAS LIKE I SAID, THE RIVERSIDE COMMUNITY WANTS IT'S AT, BUILD-OUT SUPPOSED TO BE $1.3 MILLION.

SO ALL THIS TO SAY IS AT LEAST FROM THE REVENUE SIDE, THE TIFFS DOING WHAT IT'S SUPPOSED TO DO AND IT'S DOING IT FASTER THAN WAS ORIGINALLY PROJECTED.

SO YOU CAN SEE IN THE BALANCES AT THE END, THE ENDING FUND BALANCE, WE DON'T HAVE ANY EXPENDITURES AT THIS TIME.

AND AGAIN, THAT'S GOING TO BE THE PRIMARY FOCUS FOR THIS BOARD MOVING FORWARD IS TO GET SOME, UH, PROJECTS ONLINE, BUT WE ARE ANTICIPATING TO HAVE ABOUT $687,000 AVAILABLE TO THE TIF BY THE END OF THIS YEAR.

SO WITH THAT, I'LL ANSWER ANY QUESTIONS REGARDING THIS.

AND SO THERE'S NOT ANY EXPENDITURE, SO THERE'S NOT GOING TO BE A HUGE DISCUSSION WITH COUNCIL BECAUSE WE TYPICALLY TALK ABOUT NEW EXPENDITURES AND NEW, UH, APPROPRIATIONS THAT THEY NEED TO HAVE APPROVAL AT THIS TIME.

WE DON'T HAVE THAT, BUT I DID WANT TO AT LEAST SHOW YOU WHAT OUR REVENUES ARE DOING AND INFORM YOU ALL THAT WE ARE, UH, MOVING FASTER THAN WHAT WAS PROJECTED AND ON PACE TO CONTINUE TO HAVE REVERSED THAT AND BE THE CATALYST OF THIS AND GIVE US SOME, UH, TAX INCOME TO GET SOME PROJECTS ONLINE SOON.

MATT, REMIND ME OF THE, UH, THE CALENDAR DATE THAT THIS 6 87 5 21 WOULD APPLY TO WHEN, WHEN DOES 22 IN, SO THIS IS ON A FISCAL YEAR.

SO THIS WOULD BE OCTOBER ONE TO SEPTEMBER 30TH, 2022.

SO THAT'S WHY I SAID 2020 1 22, RIGHT? SO IT'D BE OCTOBER WOULD BE THE START DATE.

AND THEN BY THE END OF IT, AND OF COURSE THERE'S NO EXPENDITURES IN THIS, BUT, UM, UH, THE BUDGETS, A PRETTY FLUID THING HERE AT THE CITY OF GARLAND THINGS POP UP, ESPECIALLY IN THE DEVELOPMENT SIDE, WE WILL APPROACH THE BOARD AND THE CITY COUNCIL TO DO A BUDGET AMENDMENT.

IF THAT OPPORTUNITY ARISES.

IT'S JUST RIGHT NOW, THIS IS JUST BASED ON OUR DECAT VALUES AND THE REVENUE THAT WOULD BE GENERATED OFF OUR TAX RATE AND WE CAN BORROW AGAINST FUTURE INCOME, RIGHT? UH, YEAH, THAT IS A, A WAY TO DO THAT, BUT I WILL WARN THAT IT IS TYPICALLY A HIGHER INTEREST RATE BECAUSE THERE'S MORE RISKS OBVIOUSLY.

AND, UH, THAT, YOU KNOW, IN THEIR EARLY YEARS, WHAT I CALL THE EARLY YEARS, YOU KNOW, IN THE EARLY TWO THOUSANDS OF TIFFS, THAT THERE WAS A LOT OF THAT THAT WENT ON.

USUALLY IT WAS, UH, BACKED BY SOME SORT OF DEVELOPMENT PROPERTY.

SO FOR INSTANCE, OURS, UH, AND ON THE AREA WAS BASS PRO.

AND WE DID, WE DID DO EXACTLY WHAT YOU SAID.

WE BORROWED AGAINST FUTURE THE, THE, THE HOPE FOR ATTENTION, UH, FUTURE PROPERTY.

UM, I KNOW GRAPEVINE IS A, A BIG, BIG USER OF THAT WITH, UH, UH, THEY'RE GREAT WITH LAWS AND EVERYTHING THAT THEY'VE DONE OUT THERE, BUT, UH, OUTSIDE OF THE TIFF, WE DO HAVE THE DOWNTOWN TIF AND WE HAVE NOT EVER BORROWED AGAINST FUTURE REVENUE WITH THE DOWNTOWN TIF.

AND SO I JUST WANT, I JUST WARN THAT, THAT IS, UH, THAT, THAT IS SOMEWHAT OF A, A RISKY PROPOSITION.

I'M NOT, I'M NOT PRO FOR DOING THAT, TO THAT CONTRARY TO MY, WHAT I EARNED MY LIVING WITH A PEDAL BLACK TO BORROW MONEY, BUT THAT DOESN'T MEAN THAT WE DON'T HAVE THE ABILITY TO BORROW IT.

WE CAN BORROW, BUT, UH, I'LL JUST SAY THAT I WOULD PROBABLY RECOMMEND BORROWING IF WE DID BORROW AGAINST THE TAX AT TAX RATE AS A WHOLE, AND THERE'D BE JUST SOME SORT OF TRANSFER FROM THE TIFF TO PAY FOR A PORTION OF THAT.

RIGHT.

JUST SO THAT IT'S COMPLETELY BACKED BY THE, THE TAXING AUTHORITY, THE PARLIAMENT.

SO I WANT TO ASK ONE QUESTION, HAVE YOU MET, UM, HOW DO YOU THINK THE TRANSITION, BECAUSE I KNOW THAT THE BACK AREA OF RIVER SET THAT'S BEING BUILT NOW IN BETWEEN THE EXISTING NEIGHBORHOOD AND THE NEW DEVELOPMENT WAS GOING TO BE A LOT MORE, NOT MULTIFAMILY, BUT DUPLEX IS QUADPLEXES SIX PLEXES.

UM, BUT THEY'VE AMENDED THEIR PLAN TO GO WITH MORE SINGLE FAMILY RESIDENCES.

UM, I KIND OF THINK THAT'S GOING TO HELP US IN THE LONG RUN BECAUSE OF IMPROVED VALUE, BUT WHAT DO YOU THINK THERE I'LL LET, UH, JED SPEAK TO ANY, UH, ON THE ECONOMIC DEVELOPMENT SIDE, BUT YEAH, OUR PROJECT PLAN AND OUR PROJECTIONS WERE BASED ON THAT ORIGINAL PLAN FROM WHEREVER SET OF HAVING, UM, LOWER VALUE RESIDENTIAL UNITS IN THAT PHASE TWO.

SO OBVIOUSLY THE MORE VALUE WE GET, AND AS LONG AS THIS, THE LONGER THIS RESIDENTIAL MARKET STAYS AS HOT AS IT IS.

UH, I'D FULLY ANTICIPATE OUR ORIGINAL PLAN TO, TO, UH, UH, YOU KNOW, BE ULTRA CONSERVATIVE AND US GENERATE MORE REVENUE THAN WE WERE ANTICIPATING AND WHY WE ACTUALLY HAVE OPPORTUNITIES TO UPDATE THESE PLANS.

AND ONCE WE GET PROJECTS ONLINE, UH, THAT'S TYPICALLY WHAT WE DO HERE AT THE CITY OF GARLAND IS, UH,

[00:15:01]

THE, THE PROJECT PLAN IS EASILY GOES THROUGH SEVERAL REVISIONS AND THE REVENUE IS TYPICALLY ONE OF THE REASONS WHY I'LL JUST ADD A LITTLE BIT TO THAT.

THE N I'LL POP THE PLAN UP HERE IN JUST A MINUTE WHEN I UPDATE ON RIVER SET.

BUT, UM, I, I THINK THE, YOU KNOW, IN ADDITION TO HAVING KIND OF A CONSERVATIVE APPROACH IN TERMS OF PROJECTING OUT, UM, VALUE INCREASES IN THE, IN THE TIF, UM, I THINK WE'VE ALSO SEEN THAT REAL ESTATE VALUES HAVE GONE UP CONSIDERABLY.

AND SO THE, THE SINGLE FAMILY HOMES THAT ARE SELLING IN RIVER SET ARE, YOU KNOW, FOUR TO 600,000 NOW VERSUS, YOU KNOW, MAYBE WHAT WE THOUGHT WAS GOING TO BE THREE OR 400,000.

AND, AND THE TOWNHOMES, EVEN THE MORE DENSE PRODUCTS ARE IN THE THREE 50, YOU KNOW, THREE TO THREE 50 RANGE.

SO, UM, I THINK OVERALL THAT THEY DID A GOOD JOB PLANNING OR MAKING THE CHANGE TO A SINGLE FAMILY PRODUCT FROM A VALUE STANDPOINT, I THINK THAT'S GOING TO PROVE OUT BENEFICIAL FOR US OVERALL.

THAT WAS KINDA WHAT I WAS GETTING AT.

I AGREE WITH THAT.

SO DOES ANYBODY ELSE HAVE ANY QUESTIONS OVER THE BUDGET? OH, I'M JUST GOING TO HOPE THAT WE, WE GET SLOW AND IT'LL COME IN A LOT BETTER.

I THINK THAT'S THE PLAN ALL ALONG.

YEAH.

THAT'S TYPICALLY OUR STRATEGY.

YEP.

UNDER PROMISE OVER DELIVER.

SO NEXT WE'LL GO TO TIP THREE UPDATES.

UM, WE'LL START WITH GARLAND MEDICAL DISTRICT AND THEN MOVED TO RIVER SET, AND I'M GUESSING THAT'S GOING TO BE MR. REX AS WELL.

YEAH.

LET ME, UH, LET ME SHARE MY SCREEN HERE.

I'VE GOT A COUPLE SLIDES I'M GOING TO, GOING TO SHARE, DO THIS.

RIGHT.

ALL RIGHT.

CAN YOU ALL SEE THAT? OKAY.

YES, SIR.

EXCELLENT.

UH, SO START WITH JUST A QUICK UPDATE ON THE MEDICAL DISTRICT PLAN.

SO IF YOU RECALL, BACK IN JUNE, WE PRESENTED THE DRAFT PLAN TO THE TIF BOARD.

UM, IT WENT THROUGH PLAN COMMISSION, IT WENT THROUGH CITY COUNCIL.

IT WENT THROUGH ANOTHER PRESENTATION TO THE VA, UM, AND, AND, YOU KNOW, A LITTLE BIT CHANGED, NOT A WHOLE LOT.

UM, I WOULD SAY THE BIGGEST, UH, THE BIGGEST THING THAT WE SETTLED ON.

UM, IF YOU RECALL, THERE WERE KIND OF THREE SCENARIOS THAT WERE PRESENTED AT THE TIME, UM, THE RECOMMENDED DEVELOPMENT SCENARIOS, WHAT YOU SEE UP ON THE SCREEN HERE.

AND THE MAIN, MAIN DIFFERENCE, UM, IN THIS DEVELOPMENT SCENARIO IS, UH, HAS TO DO WITH SITE NUMBER TWO, WHICH IS THE SIX ACRES THAT'S CURRENTLY UNDEVELOPED ON WALNUT, UH, DOWN HERE AND KIND OF THE SOUTH EAST CORNER, THE MEDICAL DISTRICT.

UM, IT'S, IT'S UNDEVELOPED RIGHT NOW.

UM, THE QUESTION WAS, OKAY, DO WE WANT TO, UH, SEE THIS DEVELOP AS MULTIFAMILY OR MIXED USE OR DO WE WANT TO, UH, SORT OF HOLD OUT AND, UM, KEEP THIS PROPERTY, UH, WAIT FOR SOME KIND OF MEDICAL FACILITY DEVELOPMENT TO HAPPEN THERE.

AND COUNCIL THE PLAN COMMISSION AND COUNCIL RECOMMENDED THAT THIS, UH, THAT WE HOLD OUT FOR SOME KIND OF MEDICAL FACILITY AT THIS, ON THAT SIX ACRES.

UM, AND THAT WE, YOU KNOW, NOT REALLY, WE HONESTLY COULD DEVELOP MULTIFAMILY.

NOW WE GET INQUIRIES ALL THE TIME ON THIS PARCEL.

UH, BUT I THINK IT'S, IT'S REALLY IN THE CITY'S BEST INTEREST.

IF WE'RE GOING TO MAKE THIS A TRUE MEDICAL DISTRICT, LET'S MAKE IT A MEDICAL DISTRICT.

AND, UH, AND SO THAT WAS WHAT WAS RECOMMENDED, UM, VERSUS GOING WITH A MULTIFAMILY OPTION ON THAT PROPERTY.

UM, YOU KNOW, AGAIN, THIS MIGHT CHANGE, I THINK, AS WE, AS THE MEDICAL DISTRICT MATURES AND DEVELOPS, AND WE SEE WHAT TAKES HOLD, UM, IT MAY BE THAT WE DEVELOP ENOUGH MEDICAL FACILITY OUTSIDE OF PARCEL TO THAT, YOU KNOW, WE CAN COME BACK IN FIVE OR 10 YEARS AND, UH, FILL IT IN WITH, YOU KNOW, SAY AN EXTENDED STAY HOTEL THAT WOULD SUPPORT THE MEDICAL DISTRICT OR, UH, YOU KNOW, SOME RETAIL OR RESTAURANTS THAT WOULD SUPPORT THE MEDICAL DISTRICT.

SO, UH, AGAIN, THAT WAS, THAT WAS WHAT WAS RECOMMENDED.

AND, AND SO IT'S IN THE PLAN, UM, THE OTHER, UH, QUICK UPDATE ON THE, ON THE MEDICAL DISTRICT WHERE YOU GET AWAY FROM THAT ONE.

YEAH.

IS THERE A, UH, WHAT'S THE, UH, FOUR LIMIT ON THAT PROPERTY? THREE STORIES, FOUR STORIES.

UH, WELL, ACTUALLY THAT, THAT PARCEL TWO IS ZONED INDUSTRIAL RIGHT NOW, IRONICALLY.

SO WE'RE, WE'RE GONNA PROBABLY JUST LEAVE IT AT INDUSTRIAL JUST BECAUSE YOU REALLY AREN'T GONNA BE ABLE TO DO ANYTHING ON IT.

OKAY.

UM, SO WHAT, UH, ONE OF THE ACTION ITEMS THAT IS COMING OUT OF THE PLAN IS THAT WE'RE ACTUALLY GOING TO GO IN AND REZONE THIS, UH, IF YOU SEE ALL THE CROSSHATCHED PROPERTY, WE'RE GOING TO CREATE A MEDICAL DISTRICT ZONE

[00:20:01]

ON TOP OF THAT PROPERTY THAT WE'LL TALK ABOUT THE STANDARDS, HOW HIGH YOU CAN GO, THE SETBACKS, ALL THAT KIND OF STUFF.

SO THAT'S KIND OF TO BE DETERMINED.

UM, BUT WE DO WANT TO GO AHEAD AND, YOU KNOW, GEAR UP ALL THAT LAND FOR MEDICAL DEVELOPMENT IN THE FUTURE.

SURE.

SO WHO HE CONTROLLING MEDICAL DISTRICT GPD, OR WOULD THAT BE PHILLIPS? IT'S HARD TO UNDERSTAND YOU, SIR.

ALL RIGHT.

CAN YOU HEAR ME NOW? YES, SIR.

THANK YOU.

WHO WOULD BE PATROLLING THE MEDICAL DISTRICT? WOULD THAT BE GARLAND POLICE? YES.

OKAY, GOOD.

NOW VA DOES HAVE SECURITY ON SITES, UM, BUT GARLAND POLICE WOULD BE PATROLLING THE DISTRICT.

OKAY.

I GOT A QUICK QUESTION, JUSTIN.

ABSOLUTELY.

UM, I KNOW THE OLD BAYLOR BAYLOR HOSPITAL AND ADJACENT TO, IT WAS A OLD PROFESSIONAL BUILDING AND THEY HAD A LOT OF DOCTOR OFFICES IN THAT PROFESSIONAL BUILDING.

HERE'S MY QUESTION IS THAT BUILD PROFESSIONAL BUILDING, WHO WOULD THAT USED TO HOUSE ARE, IS CURRENTLY HOUSING DOCTORS AND SPECIALISTS AND THINGS OF THAT NATURE.

IS THAT COMPLETELY VACATED OR ARE WE STILL, ARE THERE STILL OCCUPANCY OF, UM, DOCTORS IN THAT PROFESSIONAL BUILDING? SO THE, UM, THE WALTER REED I'LL, I'LL KIND OF GIVE A SUMMARY OF WHAT, UH, WHAT WAS RECENTLY ANNOUNCED.

BOB TALKED ABOUT IT AND REFERRED TO IT.

SO THE, THE CITY RECENTLY ENTERED INTO A PARTNERSHIP WITH A HEALTHCARE DEVELOPER.

UM, IS THE, IS THE DEVELOPMENT PARTNER THAT, UM, HAS GONE AHEAD AND ACQUIRED, UH, THE TWO MEDICAL OFFICE BUILDINGS ON CLARA BARTON.

UM, THOSE ARE THOSE CURRENTLY HAVE TENANTS MEDICAL OFFICE TENANTS IN THERE.

UH, THEY'RE NOT FULL THEY'RE ABOUT 50% OCCUPIED.

AND THE PRO VARIAN, THE DEVELOPER IS WORKING ON SOME IMPROVEMENTS TO THE BUILDINGS AND THEY'RE TRYING TO LEASE THEM UP, UH, TO GET THEM UP TO A HUNDRED PERCENT OCCUPANCY.

SO THOSE, THOSE TWO BUILDINGS ON CLARA BARTON ARE OCCUPIED AND CURRENT, UM, DEAL THAT WE WORKED OUT IS THAT THE GARLAND FOUNDATION FOR DEVELOPMENT, UM, ACQUIRED THE TWO, UM, WALTER REED BUILDINGS.

SO ONE OF THOSE IS THAT WAS A MEDICAL OFFICE BUILDING PLAZA TWO IS WHAT IT, WHAT IT IS, WHAT THE SIGN IS ON THE BUILDING.

UM, BACK IN THE DAY, HOUSED A LOT OF MEDICAL MEDICAL OFFICES.

UM, AND THEN THERE'S A SMALL BUILDING NEXT DOOR KIND OF CALLED THE ANNEX THAT, UM, WAS MOSTLY OFFICES.

SO WE'VE ACQUIRED THE, THE FOUNDATION HAS ACQUIRED BOTH OF THOSE PROPERTIES.

UM, THOSE BUILDINGS WILL BE TORN DOWN, UH, SOMETIME BEFORE THE END OF THE YEAR, UH, BUT PROBABLY MOST LIKELY HERE IN THE NEXT COUPLE MONTHS.

UM, AND THE, AND THE DEAL THAT WE'RE WORKING WITH IS THAT AS THEY LEASE UP THE TWO EXISTING BUILDINGS ON CLARA BARTON, UM, ONCE THOSE ARE LEASED UP, WE WANT TO START TO HAVE SOME TALKS WITH THAT DEVELOPER ABOUT PUTTING UP NEW MEDICAL FACILITIES ON THE TWO PROPERTIES THAT THE CITY, UH, THE GARLAND FOUNDATION FOR DEVELOPMENT PURCHASED ON WALTER REED.

UM, YOU KNOW, THEY, THEY, THEIR PLANS CALL FOR ABOUT 200,000 SQUARE FEET OF MEDICAL OFFICE SPACE THAT COULD BE, YOU KNOW, KIND OF A COMBINATION HOSPITAL, SMALLER HOSPITAL FACILITY, OR, UH, JUST STRAIGHT, STRAIGHT UP MEDICAL OFFICE.

UM, YOU KNOW, IT'S KIND OF YET TO BE SEEN WHAT THAT SQUARE FOOTAGE IS GONNA LOOK LIKE.

UM, BUT REALLY THE GOAL OF THIS, OF THE FOUNDATION ACQUIRING THAT PROPERTY WAS FOR US TO WORK WITH A DEVELOPER IN THE FUTURE, UH, TO DEVELOP THAT LAND INTO A MEDICAL USE.

SO, UM, AGAIN, THIS COULD BE 3, 5, 10 YEARS DOWN THE ROAD.

WE DON'T KNOW IT'S, IT'S A LONG-TERM PLAY FOR THE CITY, BUT, UH, WE FEEL LIKE WE HAVE A REALLY GOOD DEVELOPMENT PARTNER IN AND ARE GOING TO WORK CLOSELY WITH THEM TO, UM, REDEVELOP THE WALTER REED PROPERTIES, YOU KNOW, AT SOME POINT IN THE FUTURE, MR. X IS THAT THAT'S THE ENTIRE OH THREE AREA YOU'RE TALKING ABOUT.

THERE IS THE LAST, OH, NO, JUST THESE TWO BUILDINGS ON WALTER REED.

SO THE, UM, PRO VARIAN ALSO ACQUIRED THE DAVITA KIDNEY CLINIC, UM, WHICH HAD FRONTS SHILOH.

AND THEN THERE IS AN ALLERGY DOCTOR THAT STILL OWNS THE, THAT FACILITY AND A SMALL CHILDCARE FACILITY.

UM, THOSE ARE NOT, WE WANT TO INCORPORATE THOSE INTO THE MEDICAL DISTRICT, BUT THEY'RE NOT UNDER ANY, THEY'RE NOT EITHER UNDER PER VARIAN OWNERSHIP OR THE CITY OWNERSHIP.

OKAY.

OKAY.

UH, AT THE END OF THAT, UH, UH, THE BUILDINGS ON CLARA BARTON, THE WORD THE, UH, VERITEX USED TO BE, IS THAT A PART OF THAT TOTAL LAND?

[00:25:01]

YES, THAT'S THEY DID NOT PURCHASE IT, BUT, UM, YOU KNOW, THEY THEY'RE LOOKING AT IT.

UM, IT, IT CHANGED HANDS RECENTLY.

AND SO, UH, BUT IT IS, UH, I THINK IT'S A MEDICAL OFFICE NOW AND, UM, IT'S GOING TO BE PART OF THE MEDICAL DISTRICT AS WELL.

UH, AND I SHOULD SAY TOO, THAT SIX ACRES ON WALNUT THAT I TALKED ABOUT EARLIER, UH, THAT'S NOT OWNED BY PER VARIAN, BUT WHAT PER VARIAN'S PRIMARY, UM, DEVELOPER, UH, HE'S A PARTNER IN THE OWNERSHIP OF THAT PARCEL.

AND SO IT'S NOT OWNED BY PER VARIAN, BUT THEY TIGHTLY CONTROL THAT PROPERTY AS WELL.

THANK YOU.

UM, REAL QUICK, THIS NUMBER ONE PARCEL HERE, THAT'S PROPOSED DEVELOPMENT.

YOU'LL RECALL THAT WE HAD A MULTIFAMILY PROJECT PROPOSED ON THAT PROPERTY.

UH, THAT PROJECT DID GO THROUGH AND GET ZONING APPROVAL.

AND, UM, IF YOU RECALL, IT WAS ALSO, UH, GOING TO BE A MIXED INCOME PROJECT, MEANING THAT THERE WAS SOME AFFORDABLE HOUSING COMPONENT TO IT.

UM, THEY DID GET, UH, MVH, THE DEVELOPER DID GET AWARDED SOME TAX CREDITS FOR THAT PROJECT THROUGH THE STATE.

SO, UM, ALL SIGNS ARE THAT THAT PROJECT IS GOING TO CONTINUE TO MOVE FORWARD AS WELL.

SO THAT'S ABOUT 106 UNITS.

UM, IT'LL END UP BEING PROBABLY ABOUT A $20 MILLION INVESTMENT BY THE DEVELOPER.

AND IF I HAD TO GUESS PROBABLY HIT THE TAX ROLLS FOR ABOUT 12 TO 15 MILLION, AGAIN, DEPENDING ON THE MARKET AND, YOU KNOW, UM, D CAD AND WHAT THEY APPRAISE IT AT.

BUT, UH, YOU KNOW, THAT'LL BE A GOOD BOOST FOR THE, FOR THE TIFF AS WELL.

SO ANY OTHER QUESTIONS ON THE MEDICAL DISTRICT? FOUR, I JUMPED OVER TO RIVER SET.

THANK YOU.

IS THERE GOING TO BE A THEME IN THE CONSTRUCTION OR IS THERE GOING TO BE SOME TYPE OF THEME WHEN, WHEN YOU HAVE CUSTOMERS, CLIENTS AND THE PUBLIC IS DRIVING UP TO THE MEDICAL DISTRICT, IS THERE GOING TO BE LIKE A THEME, LET'S SAY NEW ORLEANS TYPE THEME, A MARDI GRAS IN ANY, ANY TYPE OF THEME OR JUST GOING TO BE A GENERIC, UH, PUBLIC ATTRACTION.

I'M JUST CURIOUS WHAT TYPE OF, UH, WHAT'S THE THEME OF IT.

WHEN, WHEN, WHEN THE INDIVIDUAL WALKS COME IN FROM THE PUBLIC DRIVING INTO THE METAL MEDICAL DISTRICT, WHAT TYPE OF THEME ARE WE TRYING TO PRESENT AS A CITY? SO, PART OF THE TALK GREAT QUESTION.

PART OF THE DISCUSSION WE HAD WITH THE DEVELOPER RECENTLY WAS ABOUT THE BRAND FOR THE MEDICAL DISTRICT AND, UM, FOR, UH, FOR A MOSTLY PRIVATE DEVELOPMENT LIKE THIS, UM, IT'S TYPICAL FOR THE DEVELOPER TO COME UP WITH THE, UH, WITH THE BRAND, UH, BUT THEY, THEY WANTED TO WORK IN PARTNERSHIP WITH THE CITY.

AND SO, UH, WE DID GO THROUGH A, KIND OF A QUICK BRAND, QUICK BRANDING OF THE DISTRICTS, UM, AND WHAT THE, WHAT YOU'LL SEE ACTUALLY WHAT'S TODAY, THE 11TH, REALLY IN THE NEXT WEEK OR SO YOU'RE GOING TO START TO SEE SOME SIGNAGE GO UP, UH, THAT WE'LL CALL WHAT THE DEVELOPERS CALLING THEIR, THEIR, THE MEDICAL DISTRICT IS VAL VALORIS.

AM I SAYING THAT RIGHT? VALOROUS VALOROUS HELPED PARK GARLAND, SO, UH, IS KIND OF THE BRAND THAT IT'S GOING TO COME UNDER.

UM, AND YOU'LL START TO SEE, YOU KNOW, YOU TALK ABOUT A THEME, UM, YOU'LL START TO SEE COMPONENTS OF THAT FALL INTO PLACE THROUGH SIGNAGE.

UM, THE BUILDING, THE EXTERIOR BUILDING IMPROVEMENTS THAT WILL BE DONE BY PRO VARIAN, UH, WILL BE COORDINATED WITH THAT.

UH, YOU'LL SEE SOME ADDITIONAL SIGNAGE ON THE BUILDINGS, UM, BUT EVERYTHING IS GOING TO BE VALOROUS HEALTH PART GARLAND, AND, UH, YOU'LL START TO SEE SOME CONSISTENT THEMES AND SIGNAGE THAT FOLLOW THAT, UM, THAT SIGNAGE.

UM, DOES THAT KIND OF ANSWER YOUR QUESTION? YEAH.

CAUSE I DIDN'T KNOW WHERE WE'RE GOING TO BE GENERIC THEME OR THEY GOING TO BE MILITARY THEME.

UH, JUST ANYTHING THAT I KNOW THIS IS A BIG PUBLIC ATTRACTION AND A DRAW TO NOT ONLY TO THE PEOPLE HERE IN THE GARLAND AREA, BUT THE MORE CREATIVE THE THEME, THE MORE YOU'RE GOING TO GET MORE INTEREST IN THE PUBLIC GOING IN BY AND VISITING AND SHOPPING THERE.

SO I'M JUST, IT'S JUST A POINT OF CURIOSITY.

WHAT TYPE OF THINGS ARE WE GOING TO DROP IN GOING BACK? WE WERE OUR FIRST MEETING WHENEVER WE FIRST GOT TOGETHER.

ONE OF THE THINGS THAT WE DISCUSSED WAS WHAT WE COULD DO IN THE AREA AS A TIF TO BRAND WITH, YOU KNOW, BRIDGE, ABATEMENT, ANYTHING LIKE THAT.

SO THAT'S A GREAT QUESTION.

AND I THINK IT'S DEFINITELY ONE THAT WE'LL BE LOOKING AT AND WE'LL START SEEING A LOT MORE AS IT COMES TOGETHER, UM, ON THE COMMERCIAL SITE TOO.

SO KIND OF THIS AREA, FOUR THAT'S IN THE TEAL.

[00:30:02]

UM, ONE OF THE IMPLEMENTATION AND ACTION ITEMS THAT WE HAVE IS TO START TO WORK WITH THE, THE SHOPPING CENTER OWNER TO MAKE SOME IMPROVEMENTS.

AND WE'VE GOT, WE HAVE A BUCKET OF MONEY TO HELP DO THAT, UM, TO CREATE, UH, A THEME AND THE MEDICAL DISTRICT PLAN TALKS ABOUT HAVING REALLY KIND OF A MULTICULTURAL THEME TO IT SINCE THIS IS A VERY DIVERSE PART OF GARLAND, AND WE WANT TO RECOGNIZE THE, UH, THE DIVERSITY OF THE STORES AND SHOPS THERE AND THE COMMUNITY AROUND.

UM, THERE, YOU'LL START TO SEE SOME OF THAT EMERGE TOO.

AGAIN, THAT'S GOING TO, IT'S GOING TO TAKE SOME TIME TO DEVELOP AND, AND PULL TOGETHER, BUT, UM, I'M HOPEFUL THAT WE CAN, IF NOTHING ELSE, UH, REALLY BRINGS SOME VITALITY TO THAT COMMERCIAL CENTER AND, UM, START TO MAKE IT MORE OF A PEDESTRIAN FRIENDLY PLACE ALONG WITH THE IMPROVEMENTS THAT WE'LL MAKE TO SHILOH AND WALNUT.

AND, UH, YOU KNOW, WE WANT TO, WE WANT TO HAVE A GOOD THEME FOR THE MEDICAL DISTRICT PART OF IT, BUT ALSO THAT SHOPPING CENTER IS GOING TO BE, UH, AN IMPORTANT ANCHOR, UH, IN TERMS OF REDEVELOPING, THE WHOLE AREA.

GOTCHA.

FROM A PRO BASIS OF, OF BUSINESSES IN THAT AREA.

IS THERE ANY, UH, IS THERE ANY THEME ALREADY KIND OF SET BY, BY AN ETHNIC GROUP? UH, I KNOW THE ASIANS, UH, COMMUNITY FURTHER OUT HAVE A REAL, UH, HIGH DENSITY OWNERSHIP OR PRESENCE.

UM, IT'S, YOU KNOW, IT'S KIND OF A MIX.

I MEAN, THERE'S A MIX, THERE'S A HISPANIC GROCERY STORE THERE THAT'S THE BIGGEST ANCHOR.

UM, AND, BUT IT'S, IT'S KIND OF A MIX, SO IT'LL BE AN ECLECTIC LITTLE SHOPPING CENTER WHEN WE, WHEN WE ARE ABLE TO GET IN AND PUTTING SOME, UH, PUT SOME IMPROVEMENTS IN THERE.

I WAS AT A BANK ON WALNUT AND JUPITER IN THE SEVENTIES AND EIGHTIES WHEN THAT AREA WENT THROUGH A REAL TRANSITION.

SO.

COOL.

ALL RIGHT.

UH, LET ME FLIP OVER TO RIVERSIDE HERE AND GIVE YOU A QUICK UPDATE.

SO, UH, THIS IS THE OVERALL MASTER PLAN YOU SEE HERE FOR RIVER SETS.

IT'S BROKEN UP INTO TWO PHASES, PHASE ONE NORTHERN EDGE, WHICH IS BUCKINGHAM AND SHILOH, UH, SOUTHERN PART OF THE SITE.

UH, SO PHASE ONE, LIKE MATT SAID, I MEAN, THIS PLACE IS BLOWN AND GOING, UM, 286, LOTS TOTAL IN PHASE ONE SPOUT, 70% BUILT OUT.

UM, AND THIS IS, UH, THESE NUMBERS ARE A COUPLE OF WEEKS OLD, SO IT'S CHANGED A LITTLE BIT.

SURE.

UH, 72 UNITS UNDER CONSTRUCTION AND ONLY 15% THAT ARE, HAVE NOT RECEIVED A BUILDING PERMIT YET.

UM, I'LL TELL YOU THE HOTTEST SELLER IN THIS NEIGHBORHOOD, EVERYTHING IS SELLING WELL, BUT ESPECIALLY THE TOWNHOMES, UH, THAT IS REALLY A PRODUCT THAT I WANT TO SEE IN OTHER PARTS OF GARLAND.

AND, AND WE'RE ACTUALLY TRYING TO TALK TO CB JENNY WHO BUILT THESE ONES ABOUT DOING SOME OTHER DEVELOPMENT, BUT THAT, UM, TOWNHOUSE PRODUCT HAS SOLD REALLY WELL.

AND AT A, AT AN ELEVATED PRICE POINT THAT I DON'T THINK THEY EXPECTED TO GET.

SO I'M VERY EXCITED ABOUT THAT.

UM, PHASE TWO, THAT THEY HAVE STARTED THE INFRASTRUCTURE IMPROVEMENTS ON, UH, BECAUSE THEY'RE READY TO ROLL RIGHT INTO IT.

AND, UH, MANY OF THE HOME BUILDERS THAT ARE IN PHASE ONE ARE GOING TO KEEP GOING IN PHASE TWO AND THERE'LL BE A TOTAL OF 304 LOTS, UM, AVAILABLE IN PHASE TWO.

SO, UM, IT'S, IT'S GOING FAST AND THAT'S ONLY GOING TO HELP OUT THE TIFF AND, AND THE CITY IN GENERAL.

SO WE, WE TALK ABOUT RIVER SET OFTEN WHEN WE MEET WITH DEVELOPERS, WE TAKE THEM OUT THERE AND SAY, THIS IS WHAT, THIS IS WHAT WE WANT TO SEE DUPLICATED IN OTHER PARTS OF GARLAND, UH, JUST BECAUSE IT'S BEEN SUCH A SUCCESSFUL PROJECT AND, UM, LOVE TO SEE IT WORKING IN OTHER PARTS OF GARLAND AS WELL.

SO, UM, THAT'S KIND OF WHERE RIVER SETS AT AND, YOU KNOW, I'LL BET, YOU KNOW, THREE, FOUR YEARS FROM NOW, THIS IS GOING TO BE 99% FINISHED.

AND AS LONG AS THE HOUSING MARKET STAYS HOT, LIKE IT IS, UH, YOU KNOW, THIS IS WE'RE GOING TO SEE THIS THING FINISH OUT PRETTY QUICK.

WHAT'S THE, WHAT'S THE SQUARE FOOTAGE RANGE IN THESE TOWNHOMES UNITS THAT WERE, THAT WE'RE SPEAKING OF, WHAT'S THE, FROM, FROM THE MINIMUM TO THE MAX, YOU KNOW, THEY THEY'RE AROUND, UH, 1500 TO 2000 SQUARE FEET.

UM, I THINK THAT'S PRETTY, YOU KNOW, MIGHT BE A LITTLE BIT ABOVE, A LITTLE BIT BELOW, BUT, UH, 15, 1600 ON THE, ON THE LOW END.

AND THEN I THINK JUST OVER 2000 SQUARE FEET ON THE HIGH END, THEY ALL HAVE PARKING GARAGE.

SO WE WERE NOT GOING TO BE IN A SITUATION WHERE YOU HAVE A LOT OF CARS PARKED OUT ON THE STREETS.

NO, NO, THEY, THEY HAVE GARAGES.

YEAH.

AND THEY HAVE HOA RULES

[00:35:01]

ABOUT PARKING AND EVERYTHING ELSE.

SO THE NEXT AREA, CC AND RS.

EXCELLENT.

EXCELLENT.

ANYTHING ELSE ON THAT ONE, MR. X? NO, I, I THINK THAT'S ALL I HAD TO PRESENT.

HAPPY TO ANSWER.

ANY QUESTIONS YOU MIND SENDING US A COPY OF THOSE? YEAH.

YEAH.

I'LL SEND THIS OUT HERE IN JUST A FEW MINUTES TO EVERYBODY.

DO YOU HAVE A PICTURE? UH, I'M JUST CURIOUS, JUSTIN, BEFORE WE MOVE ON, DO YOU HAVE A PICTURE OF LIKE THE, UH, THE FRONTAGE OF THE TOWNHOME THAT WE CAN SEE AS AN EXAMPLE? YEAH, LET ME ACTUALLY, I'VE GOT A BOOKMARK TO CV JENNY'S WEBSITE.

IF YOU HAVEN'T DRIVEN THROUGH THAT AREA AND YOU'RE IN THE AREA, I WOULD DEFINITELY COME OVER AND JUST DRIVE THROUGH.

THEY'RE DOING A GREAT JOB WITH INFRASTRUCTURE AND DEVELOPMENT.

EVERYTHING DOES LOOK GOOD AND THERE'S A LOT OF CONTINUITY TO THE NEIGHBORHOOD.

UM, I REALLY LIKED THAT LITTLE AREA AND IT'S REALLY POPULAR.

YEAH.

HERE'S UH, WELL I DID SHOW SOME PICTURES.

CAN YOU GUYS SEE THIS, THIS WEBSITE HERE? YEAH.

SO HERE'S THE, ARE THEY GOING TO LOOK LIKE THAT? OKAY.

YEAH, THAT'S WHAT THEY LOOK LIKE.

UM, THAT'S AND THE PARKING IS IN THE BACK IN THE REAR.

THAT'S CORRECT? YEP.

UH, YEP.

WE WERE PARKING ON THE TOWNHOMES REAR TRASH PICKUP THROUGH THE ALLEYS.

UM, THEY'RE, THEY'RE REALLY NICE UNITS.

I'VE TOURED A COUPLE OF THEM AND THEY'RE DOING A GREAT JOB ON THEM.

YEAH.

I WAS GOING TO SEE IF THEY HAD SOME PICTURES OF THE GARAGE OR THEY DON'T USUALLY PUT GARAGE ON THESE.

IT'S NOT A REAL POPULAR A THING.

EVERYBODY WANTS ONE, BUT THEY DON'T WANT TO SEE THEM, I GUESS NOT EXTERIOR WAS AN AUSTIN.

A LITTLE BIT, UM, YEAH, I'D SAY, I'D SAY IT'S KIND OF AN AUSTIN STONE LOOK.

OKAY.

VERY NICE UNITS.

DOES ANYBODY ELSE HAVE ANY QUESTIONS ON THE RIVER SET DEVELOPMENT? WHAT'S THE PROCESS FOR THEM? UM, BEING A PART OF THE GARLAND ECONOMIC, WELL, NOT THE GARLAND AFFORDABLE HOUSING.

HOW, HOW DOES, HOW DOES CB JENNY AND GARLAND AFFORDABLE HOUSING WORK WITH ONE ANOTHER? IF THAT'S EVEN A THING, UM, ON THIS PARTICULAR DEVELOPMENTS, UM, OUR KIND OF COMMUNITY DEVELOPMENT ARM IS NOT INVOLVED.

UM, THIS IS ALL PRIVATE DEVELOPMENT AND MARKET RATE, UH, WHERE YOU, WHERE YOU'LL TYPICALLY SEE ARE KIND OF OUR CDBG OR OUR AFFORDABLE HOUSING FOLKS GET INVOLVED AS ON, UM, SMALLER DEVELOPMENTS, UM, UM, YOU KNOW, INFILL HOUSING KIND OF HOMES OR DUPLEXES BUILT HERE.

AND THEY'RE SCATTERED THROUGHOUT THE COMMUNITY.

UM, TYPICALLY NOT ON A LARGER SCALE LIKE THIS, AND I CAN ANSWER, I CAN ANSWER THAT ONE A LITTLE BECAUSE WHENEVER RIVER SET WAS PLANNED, THERE WAS NO HOUSING IN THE AREA FOR DOCTORS, NURSES, MEDICAL STAFF, AND THIS ALL STARTED WHEN BAYLOR WAS STILL THERE.

SO THEY NEEDED A NICER, HIGHER END HOUSE THAT WOULD DRAW THE PARAPROFESSIONALS INTO THAT AREA.

WELL, I LIVE TWO BLOCKS FROM THAT DEVELOPMENT AND YEAH, MY HOUSE IS VERY MODEST, 2000 SQUARE FEET.

IT WOULDN'T ATTRACT SOMEONE WHO WAS A DOCTOR THAT HAD TO BE ABLE TO GO TO THE HOSPITAL AND HAD TO BE ON CALL AND BE CLOSE ENOUGH TO GET THERE.

SO WHENEVER RIVER SET WAS PUT IN MOTION, IT WAS TO FILL THAT.

AND LUCKILY WHEN BAYLOR ANNOUNCED, THEY WERE CLOSING, WE WERE ABLE TO CONTINUE WITH THAT BECAUSE THE VA WAS RUMORED TO BECOMING A LAW.

SO IT FILLS A SPECIFIC NEED AND THERE ARE DEFINITELY NEEDS FOR THAT IN THIS WEST GARLAND AREA.

SO IT, THAT THAT LITTLE AREA IS NOT ONLY GOING TO HELP WITH AROUND THE HOSPITAL IN THAT AREA, BUT IT'S GOING TO HELP WITH THE ENTIRE DISTRICT SIX DISTRICT EIGHT, EVERYTHING THAT BORDERS IT RIGHT THERE.

SO ANYTHING ELSE ON THAT ONE? GOOD TO GO.

ALL RIGHT.

SO I GUESS WE CAN MOVE ON TO OUR NEXT ITEM.

UM, OBVIOUSLY OUR NEXT MEETING DATE FALLS ON OCTOBER 27TH.

UM, WHETHER THAT WILL BE IN-PERSON ZOOM

[00:40:02]

IT'S ANYBODY'S GUESS I AM NOT EVEN VENTURING INTO THAT AT THIS POINT.

EVERYTHING CHANGED FOUR HOURS AGO AND IT'S GOING TO CHANGE IN THREE WEEKS.

SO I, I DON'T KNOW, UM, JUST KNOW THAT THAT IS OUR MEETING DATE.

UM, IF WE NEED TO HAVE A MEETING, YOU KNOW, WE'VE ALL SAID THAT WE WERE VERY OPEN SIX O'CLOCK TYPICALLY WORKS FOR US.

AND AS LONG AS IT DOESN'T STEP ON OTHER COMMITTEES, WE'RE ALL PRETTY OPEN.

SO I APPRECIATE THAT.

UM, WOULD ANYBODY FROM THE CITY LIKE TO ADD ANYTHING ON THAT? UH YOU'RE YOU'RE EXACTLY RIGHT.

IT'S ANYBODY'S GUESS AT THIS POINT, UM, TECHNICALLY FROM A LEGAL STANDPOINT, THE WAY THINGS STAND SEPTEMBER 1ST, SEPTEMBER ONE'S THE DAY, BUT, UM, THAT COULD CHANGE TOMORROW.

IT COULD CHANGE THREE WEEKS FROM NOW.

WE DON'T, WE JUST DON'T KNOW.

SO STAY TUNED.

WE'LL, WE'LL STAY IN TOUCH, BUT WE'LL DEFINITELY HAVE A MEETING THAT DAY, UM, WHERE IT'S GOING TO BE.

I DUNNO, WE'RE, WE'RE ALL ALONG FOR THE RIDE AT THIS POINT.

I, THE ANSWER TO THAT, WILL YOU GO BUY A LOTTO TICKET WITH THE ROCK JENKINS SAID IT BEST TODAY.

IF I WAS A GAMBLE OF MAN, AND I CAN ANSWER THAT I'D BE IN VEGAS RIGHT NOW, YOU KNOW, WHO KNOWS? UM, OTHER THAN THAT, IF NOBODY HAS ANYTHING ELSE, UM, DO WE HAVE ANY OTHER QUESTIONS, ANY OTHER COMMENTS, JUSTIN AND MATT.

THANK YOU ALL.

THANK YOU FOR YOUR SUPPORT.

I HEAR THAT WE HAVE A COUPLE OF, UH, PEOPLE WHO ARE BEING ASKED TO COME ON THE BOARD, UM, WHETHER OR NOT THEY ACCEPT, I DON'T KNOW, BUT WE WILL FIND THAT OUT.

UM, AND OBVIOUSLY WE'LL INTRODUCE THEM AS WE GO.

YOU PUT A GOAT IN THEIR FRONT YARD IF THEY DON'T, I GUESS I THINK YOU GOT A COUPLE, SO, YEAH.

AWESOME.

IF ANYBODY ELSE HAS ANYTHING, NOBODY FROM THE CITY.

NOPE, WE'RE GOOD.

HEY, IT'S SIX FORTY FIVE, FORTY FIVE MINUTE MEETING.

I'LL CALL US A JUROR AND I LOVE THAT.

YEAH.

THANK YOU, BUDDY.

HAVE A GOOD NIGHT.

GOOD NIGHT.

* This transcript was compiled from uncorrected Speech-to-Text.