[ NOTICE OF MEETING CITY OF GARLAND, TEXAS BOND STUDY COMMITTEE Goldie Locke Community Room of the Charles E. Duckworth Utility Building 217 N. Fifth Street Garland, Texas October 17, 2024 at 6:00 p.m. A meeting of the Bond Study Committee of the City of Garland, Texas will be held on Thursday, October 17, 2024 at 6:00 p.m. at 217 N. Fifth Street, Garland, Texas in the Goldie Locke Community Room of Charles E. Duckworth Utility Building.]
[00:00:03]
GENTLEMEN, ARE WE READY TO START HERE? ARE YOU, UH, ARE YOU LADIES READY OVER THERE? WE'RE READY.
UH, WE'LL CALL THE MEETING ORDER.
UH, I JUST WANT TO SAY WELCOME BACK FROM FALL BREAK, MOVE ON FOR THREE WEEKS.
HOPE YOU GUYS, UH, MAKE DIS USE OF THE TIME, ROB, OFFICE CHIP.
BUT, UH, LET'S GET THE, LET'S GO AHEAD AND GET STARTED.
I'M CHAIR OF THE BOND COMMITTEE.
IT IS OCTOBER 17TH AND THE TIME IS 6:03 PM WE DO HAVE A QUORUM OF THE COMMITTEE HERE TONIGHT.
SO WE WILL GO FIRST TO, UH, PUBLIC COMMENTS.
UM, LET'S SEE THE PUBLIC COMMENTS, UH, ALLOW PUBLIC COMMENTS AT THIS TIME.
ANYONE WISHING TO ADDRESS THE BOND COMMITTEE? PLEASE DRIVE STATE YOUR NAME AND YOUR ADDRESS.
THIS WILL BE RECORDED BY THE CITY SECRETARY, AND YOU HAVE THREE MINUTES TO ADDRESS THIS BODY.
IS THERE ANYONE WHO WANTS TO, UH, PROVIDE PUBLIC COMMENTS TONIGHT? I SEE NONE.
WE WILL, UH, HAVE NO PUBLIC COMMENTS TONIGHT.
COME TO APPROVAL OF THE MINUTES.
AND, UH, WE HAD A, UH, KRISTEN COULD NOT BE HERE FOR WORK, JUDGE.
EDIT AND I WILL CALL HER, UH, PARTNER JERRY JONES TO, UH, PROVIDE AN EDIT MINUTES.
I HAVE THREE EDITS TO ITEM FOUR D UNDER THE MARKETPLACE AREA DEVELOPMENT.
UM, THE FIRST ONE IS, KRISTEN'S NAME IS SPELLED WRONG.
UH, THE SECOND ONE IS UNDER THE DESCRIPTION ONE, CHANGE TO BE, UH, MORE SPECIFIC TO THE, UH, PRESENTATION.
SO INSTEAD OF DEVELOP THE ONE TO BE INVEST IN THE MASTER PLAN AND OFFER FINANCIAL INCENTIVES, FIVE TO $10 MILLION FROM TYPE DEVELOPERS AND ENSURE SUCCESSFUL DEVELOPMENT OF THE THEN REST IS THE SAME.
AND THEN THE LAST ITEM IS UNDER STATUS CHANGE TO APPROVED FOR EVALUATION BY.
UH, MR. KING STATE AN EMAIL TO COURT THIS MORNING.
SO IF THERE'S ANY OBJECTION TO THOSE.
ANYONE ELSE HAVE A DIRECTION OF THE MINUTES? NONE.
I, I'LL HEAR A MOTION TO ACCEPT THE AMENDMENTS AS AMEN.
ANY OBJECTION, MINUTES AS AMENDED ARE APPROVED.
UH, WE'LL GO ON TO ITEMS FOR INDIVIDUAL CONSIDERATION.
UH, FOUR A IS WE ADDRESS QUESTIONS FROM THE SEPTEMBER 26TH MEETING.
UH, THERE'S A QUESTION ABOUT WHERE TO FIND FLOODPLAIN INFORMATION.
UM, THESE ARE THE TWO LINKS THAT YOU CAN GO WITH.
THIS IS WHERE YOU CAN GO AND SEARCH FOR ANYTHING CITYWIDE.
AND THE NEXT ONE, THERE WAS A, I THINK A SPECIFIC QUESTION, UH, RELATED TO GATEWOOD.
THE, THE, UH, THE FLOOD AREA AS IT RELATES TO THE ZONING MAP.
IS THAT CORRECT? THIS IS WHAT YOU'RE LOOKING AT.
UM, BUT IN THE, IN THIS AREA THAT THE CITY ENGINEER TALKED ABOUT, UM, YOU'RE GONNA SEE A WHOLE LOT OF, UH, RESIDENTIAL, PRIMARILY SF SEVEN, SF 10, THAT KIND OF THING.
UM, IT'S KINDA HARD TO SEE, BUT IT'LL BE IN YOUR PACKET AND ON OUR TEAMS PAGE, A LITTLE BIT OF COMMERCIAL, LITTLE BIT OF RETAIL.
UM, BUT THIS IS, THIS IS THE IMPACTED AREA.
SO IT, YOU CAN TELL ALL BUT TWO AG PARCELS, IT'S, IT'S ROUGHLY BUILT OUT.
SO WHEN IT COMES TO IMPERVIOUS COVER, IT'S GENERATING WHAT IT'S GONNA GENERATE.
IT'S NOT GONNA CHANGE A WHOLE LOT AS IT RELATES TO ZONING.
AND IF IT DOES, LET'S SAY FOR EXAMPLE, THIS ENDS UP DEVELOPING IN SOMETHING A LITTLE MORE INTENSE, THEY'RE GONNA BE REQUIRED TO PROVIDE A DETENTION POND SO THAT WAY THAT NO WATER, NO ADDITIONAL WATER LEADS THEIR PROPERTY TO IMPACT ADJACENT PROPERTY.
AND THAT'S A, THAT'S A STANDARD ENGINEERING, IT'S NOT A ZONING FUNCTION, IT'S A, IT'S AN ENGINEERING, UH, STANDARD SITE REQUIREMENT.
ANY QUESTIONS ON THAT? YES MA'AM.
[00:05:04]
WAS THERE ANY FLOOD MITIGATION IN THE 19 BOND PROGRAM IN THAT AREA? NOW THERE'S OTHER MEANS.MATT COULD POSSIBLY TALK TO IT.
SOMETIMES THERE'S OTHER MEANS THAT, YOU KNOW, YOU'VE SEEN THE PRICE TAG THAT'S ASSOCIATED WITH THIS PROJECT.
UM, I DO BELIEVE, WAS IT THIS YEAR OR LAST YEAR, THERE WAS A, A RATE CHANGE AS IT AS WE HAVE STORM WATER RATES, UM, THAT WAS INCREASED A SMALL AMOUNT.
UM, AND, AND THAT ACTUALLY GENERATES OVER TIME.
THAT WILL GENERATE QUITE A BIT OF FUNDING AVAILABLE.
DRAINAGE THAT'S MORE TYPICALLY ON THE, IN THE 19 PROGRAM.
BOB, BOB
THERE'S A BUNCH MONEY RAN OUT ABOUT THE LAST WEEK'S.
I THINK WE'VE ALL DONE A MUCH BETTER JOB WITH USING MICROPHONES, SILENCING THE CELL PHONES FOR THE MOST PART.
UM, SO THANK YOU ALL FOR THAT.
UH, WE WANNA MAKE IT AS EASY AS WE CAN ON STAFF TO RECORD THIS AND
UM, ALRIGHT, WE'LL GO ON TO FOUR B COSTING AND PRIORITIZATION.
UM, NATHAN ANTE AGAIN WITH, WITH HORNE, AND I THINK WE PROMISED Y'ALL LAST TIME WE MET THAT WE WEREN'T GONNA HAVE A TON OF PRESENTATIONS MATERIAL.
AND WE, WE DON'T, WE'VE ONLY GOT A HANDFUL OF SLIDES AND SOME HANDOUTS.
UM, BUT THIS IS FIRST OF TWO MEETINGS AND IF WE NEED THREE OR FOUR, WE CAN CERTAINLY ADD 'EM.
BUT REALLY THESE NEXT COUPLE OF MEETINGS, WE WERE GONNA, UM, WE'VE TALKED ABOUT A LOT OF PRODUCTS OVER THE LAST SEVERAL WEEKS.
WE'VE DONE A ROLL UP ON HOW MUCH THAT TOTAL IS.
AND THEN WE'VE PRIORITIZED, WE HAVEN'T PRIORITIZED THEM, BUT WE'VE PUT THEM INTO THE DIFFERENT CHARGE BUCKETS SO YOU CAN KIND OF SEE HOW THOSE LANDED.
BUT ALSO WE BROKE 'EM OUT INTO DIFFERENT CATALYST AREAS BECAUSE THAT'S, THAT'S REALLY WHAT, HOW WE'VE BEEN TALKING ABOUT THE PROJECTS TO, TO DATE.
AND THEN WE'VE ALSO DONE SOME HOMEWORK ON THE BOND STUDY COMMITTEE PROJECTS THAT WE'VE ADDED.
UM, SO I THINK OUR GOAL HERE TODAY IS JUST TO PRESENT SOME DIFFERENT WAYS TO THINK ABOUT HOW THIS COULD BE PRIORITIZED AND THEN REALLY HEAR, HEAR AND LISTEN TO WHAT Y'ALL'S FEEDBACK IS SO THAT NEXT WEEK WE CAN COME BACK TO A LITTLE BIT MORE REFINE LIST AND MAYBE EVEN GO INTO A LOT OF SPECIFICS.
SO, UM, WITH THAT, I'M JUST GONNA GO THROUGH A COUPLE OF SLIDES TO TEE UP SOME, SOME THOUGHTS.
UM, THIS IS, SO Y'ALL HAVE A HANDOUT TOO.
SO I'LL DESCRIBE ALL OF THIS, UM, HERE IN A MINUTE.
BUT, UM, OF ALL THE PROJECTS THAT WE'VE TALKED ABOUT, INCLUDING SOME OF THE BOND STUDY COMMITTEE PROJECTS, UM, IT WAS AROUND 300 MILLION.
AND THEN LIKE THE LAST BOND PROGRAM, WE DID ADD A 20% CONTINGENCY JUST FOR INFLATION PROGRAM MANAGEMENT, UM, TO ACCOUNT ACCOUNT FOR THAT.
'CAUSE SOME OF THESE PROJECTS WOULDN'T BE DELIVERED FOR TWO OR THREE, THREE YEARS.
SO WE WANTED TO MAKE SURE WE INCLUDED SOME BUFFER THERE.
SO THE TOTAL IS AROUND 350 MILLION.
SO I THINK OVER THE LAST COUPLE OF MEETINGS WE TALKED ABOUT, WELL NORTH OF 500, 600, $700 MILLION.
AND I THINK THAT IS STILL THE CASE.
THERE IS STILL THAT MUCH OPPORTUNITY OUT THERE FOR ECONOMIC DEVELOPMENT.
UM, THE REASON IT'S A LITTLE BIT LOWER.
THINGS LIKE LAND ASSEMBLY, UM, WE COULD SPEND A HUNDRED MILLION, 150 MILLION PLUS JUST ON LAND ASSEMBLY IN HARBOR POINT, FOR EXAMPLE.
UM, WE WENT THROUGH THE LAND ASSEMBLY LIST WITH THE ECONOMIC DEVELOPMENT GROUP AND I PUT SPECIFIC PARCELS DOWN ON THIS LIST AND THEN WE PULLED THE DCA APPRAISALS AND THEN AGAIN, OUT OF THE 20%, JUST TO GIVE US SOME REAL NUMBERS ON WHAT WE CAN ACTUALLY GO, UM, PRIOR TO THE COURSE OF THE
SO WHILE, WHILE THE THE GRAND TOTAL'S 350 MILLION, THE ACTUAL OPPORTUNITIES COULD BE, COULD BE WELL WORTH OF THAT.
AGAIN, KNOWING THAT THE TARGET WAS 150, UM, WE THOUGHT MAYBE BOILING IT DOWN A LITTLE BIT WITH SOME MORE SPECIFIC THINGS THAT COULD ACTUALLY GET DONE WITH THIS ONE PROGRAM WAS PROBABLY A LITTLE BIT MORE.
SO AGAIN, THE TARGET BEING 150 MILLION.
AND AS WE LOOKED AT THE, THE WAYS TO PRIORITIZE A LOT OF THESE, I THINK WE'VE TALKED ABOUT A LOT OF THESE ARE SCALABLE.
SOME OF 'EM ARE VERY PROJECT SPECIFIC, BUT THINGS LIKE LAND
[00:10:01]
ASSEMBLY AND CORRIDORS, UM, AGAIN, THERE THERE'S AN INFINITE, INFINITE AMOUNT OF OPPORTUNITIES THERE.SO YOU CAN INCLUDE ALL OF THOSE JUST MAYBE AT A SCALED DOWN VERSION.
SO, UM, THE, THE FOUR WAYS TO KIND OF THINK ABOUT THIS IS THE, AGAIN, BACK TO MATT'S EARLIER PRESENTATION, THE GARLAND CHALLENGE.
WHAT ARE THE, THE, THE CHARGES WERE, WHAT ARE THE PROJECTS THAT HAVE THE HIGHEST RETURN ON INVESTMENT? SO WE WILL TALK ABOUT THAT A LITTLE BIT.
WE ALSO BROKE ALL OF THESE PROJECTS DOWN BY AREA BECAUSE THAT'S HOW WE TALKED ABOUT 'EM TO DATE.
SO WE WILL, WE WILL SHOW YOU HOW THOSE PERCENTAGES LANDED.
AND THEN ALSO BY ALL THESE CHARGE BUCKETS, WE'VE ALSO GROUPED ALL OF 'EM INTO THE CHARGE.
SO YOU CAN MAYBE PRIORITIZE IT IT THAT WAY.
AND THEN THE LAST ONE'S PO POTENTIAL ALTERNATIVE FUNDING SOURCES.
SO WE'VE, WE'VE BROKEN OUT ALL THE PROJECTS IN A WAY THAT SHOW THERE ARE SOME THINGS THAT CAN ONLY BE FUNDED WITH A BOND PROGRAM LIKE THIS.
THERE IS NO ALTERNATE FUNDING.
WHILE THERE'S OTHER PROJECTS THAT COULD BECOME PART OF THIS BOND PROGRAM THAT COULD BE FUNDED WITH COS OR T FUNDS.
SO WE'VE BROKEN 'EM OUT THAT WAY TOO.
UM, UH, THAT THOSE, THOSE COULD BE PRIORITIZED MAYBE IN A DIFFERENT WAY, NOT PART OF THE BOND PROGRAM.
UM, SO WE WANTED TO SHOW Y'ALL ALL THAT BECAUSE THERE ARE SOME OF THESE THINGS THAT WE TALKED ABOUT THAT WITH WITHOUT THE BOND PROGRAM, THEY JUST, THEY JUST WOULDN'T MATTER.
BUT THAT DOESN'T MEAN THE ENTIRE BOND PROGRAM HAS TO BE JUST THOSE PROJECTS.
UM, SO I, I CAN TALK ABOUT THIS OR MATT CAN, BUT ON THAT, THE HIGHEST RETURN ON INVESTMENT IS A FEW FACTORS.
UH, THIS REALLY JUST COMES DOWN TO IF THE COMMITTEE SO CHOOSES, WHAT WE CAN DO IS COME BACK NEXT WEEK AND BRING, BRING WHAT INFORMATION WE CAN PUT TOGETHER.
AND WHAT MY THOUGHT IS, IS IT IS SOMETHING THAT'S GOING TO INCLUDE TWO THINGS HERE.
DIRECT ECONOMIC IMPACT, WHICH IS A TYPICAL, OR ROI WHEN YOU'RE LOOKING AT ACTUAL FINANCIAL METRICS.
HOW MUCH PROPERTY TAX, HOW MUCH SALES TAX, HOW MUCH HOTEL, MOTEL TAX DO WE ANTICIPATE? POTENTIAL CONSERVATIVE NUMBERS.
THERE'S A HUGE RANGE OF GENERATING OVER A CERTAIN AMOUNT OF TIME FOR THAT INVESTMENT.
THERE'S ALSO INDIRECT ECONOMIC IMPACTS THAT NEED TO BE CONSIDERED.
'CAUSE AS WE'RE A CITY, WE'RE NOT HERE TO MAKE MONEY.
WE'RE NOT A FOR-PROFIT ENTITY.
THERE'S OTHER THINGS WE NEED TO CONSIDER.
AND THESE ARE JUST SOME OF THEM IMPROVED QUALITY OF LIFE, OBVIOUSLY THAT'S, THAT'S EXTREMELY IMPORTANT FOR THE COMMUNITY.
NEW BUSINESS ATTRACTION, UH, JOB CREATION.
SO THERE'S ALL THESE OTHER INDIRECT THINGS THAT WE NEED TO PACKAGE IN AS WELL AT, I'M SUGGESTING AS A, A POTENTIAL WAY TO LOOK AT ALL THESE PROJECTS WHEN WE GO THROUGH 'EM IN DETAIL.
SO, UM, THIS WAS PROBABLY OUR HIGHEST CHARGE OF WHY WE'RE LOOKING FOR THE ECONOMIC DEVELOPMENT.
'CAUSE WE WANTED TO SHOW A RETURN ON INVESTMENT.
I TALKED A LOT ABOUT THIS AS AN INVESTMENT IN THE COMMUNITY.
THIS ISN'T US JUST GOING OUT BUILDING THINGS WITHOUT EXPECTING SOME SORT OF GROWTH IN THE COMMUNITY.
SO THIS IS ONE WAY WE COULD BUCKET IT.
IF THE COMMITTEE WANTS US TO COME BACK.
THERE'S, UH, OBVIOUSLY MULTIPLE DIFFERENT METRICS WE CAN BRING BACK TO HELP Y'ALL CATEGORIZE, OKAY, UH, THIS, BASED OFF THE INFORMATION WE HAVE, THIS PROJECT IS BRINGING THIS MUCH SALES TAX, THIS MUCH PROPERTY TAX COULD GENERATE THIS AMOUNT OF JOB, THE QUALITY OF LIFE COMPONENTS AND ALL THAT ROLLED INTO ONE BUCKET.
SO THIS IS, IF, IF THE PRIORITIZATION BY AREA IS REALLY THE ONLY CRITERIA, UM, THEN WE COULD, UM, LOSE OUT ON SOME OTHER OPPORTUNITIES THAT MAY BE MISSING ABOVE THIS.
SO IT'S REALLY LOOKING AT IT FROM A LOT OF DIFFERENT ANGLES.
SO THIS IS HOW WE'VE KIND OF TALKED ABOUT THE PROJECTS TO DATE.
AND THIS VERY FIRST PAGE OF YOUR SUMMARY IS REALLY JUST A MASTER SUMMARY LIST OF EACH ONE OF THESE AREAS.
SO FOR EXAMPLE, HARBOR POINT, UM, $74 MILLION WORTH OF, OF THINGS THAT WE'VE TALKED ABOUT FOR HARBOR POINT, WHICH WOULD REPRESENT ABOUT 21% OF THE THE TOTAL, UM, PROJECTS THAT WE TALKED ABOUT.
I'LL, I'LL POINT OUT TOO THAT, UM, THESE OTHER AREAS ARE, ARE PROJECTS THAT DON'T NECESSARILY FIT WITHIN ONE OF THESE BUCKETS.
UM, AND THEN THE CITYWIDE PROGRAMS REALLY APPLY TO ANY CATALYST AREA ANYWHERE IN THE CITY.
SO, UM, I KNOW ONE OF THE PROJECTS AND IN BOND STUDY COMMITTEE PROJECTS THAT WE WILL TOUCH ON HERE AFTER HERE IN A MINUTE.
[00:15:01]
AND SO THIS IS ONE WAY TO PRIORITIZE.THE OTHER WAY IS WE'VE TAKEN ALL THE LAND ASSEMBLIES, FOR EXAMPLE, FROM EACH CATALYST AREA AND ADDED UP ALL THOSE NUMBERS AND YOU'LL SEE THE NUMBER FOR THAT.
WE'VE DONE THE SAME FOR INFRASTRUCTURE REVITALIZATION AND WE'VE DONE THAT FOR, FOR ALL OF THESE.
AND THEN, UM, WE'VE ALSO, WE WE NOTED WHICH ONES HAVE POTENTIAL ALTERNATIVE FUNDING SOURCES.
SO LAND ASSEMBLY FOR ECONOMIC DEVELOPMENT, SO IMPROVEMENT FOR ECONOMIC DEVELOPMENT, THIS NEIGHBORHOOD VITALITY, WHICH WAS PART OF THE LAST ECONOMIC DEVELOPMENT BOND PROPOSITIONS.
THOSE ARE, THOSE ARE OPPORTUNITIES THAT WE'VE TALKED ABOUT THAT HAVE NO OTHER WAY OF GETTING FUNDING OTHER THAN THIS SPONSOR.
UM, SOME OTHER ONES LIKE THE DESTIN ASIA TO SPEND AMENITIES.
THE, UM, UH, THE, UH, THE GARLAND BOARDWALK FOR EXAMPLE THAT WAS TALKED ABOUT.
A LOT OF THOSE ARE OUTCOMES THAT IF WE FUND SOME OF THIS THEN, THEN THAT WOULD BE A PRIVATE INVESTOR, THE FERRIS WHEEL, SOME OF THOSE THINGS THAT, THAT WERE TALKED ABOUT, ABOUT, UM, THOSE, IF YOU DO THESE, THOSE WILL BE OUTCOMES THAT WOULD TAKE SOME PRIVATE INVESTMENT, BUT THEY WOULDN'T BE WILLING TO DO THAT.
SO MATT, I DON'T KNOW IF YOU WANNA TOUCH ON ANY OF THESE.
WHAT AND WELL, WHERE WE'RE TRYING TO GO WITH THESE IS TRYING TO THINK OF IT LIKE LENSES OR DIFFERENT HATS.
SO THE FIRST HAT WAS FROM A FINANCIAL STRICTLY WHAT'S THE BEST RETURN FOR THE CITY.
THE SECOND ONE IS GEOGRAPHIC AREA.
SO, UM, WE KNOW THAT THERE'S SOME REALLY IMPORTANT PROJECTS IN HARBOR POINT DOWN IN SOUTH GARLAND AND BEING ABLE TO SEE THOSE BUCKET OF TRYING TO GIVE YOU A DIFFERENT VIEW OF WHAT, HOW MUCH FUNDS ARE GOING TO ONE SPECIFIC AREA OF TOWN.
AND THEN WHEN YOU'RE LOOKING AT THIS ONE, IT'S MORE OF WHEN YOU'RE GOING, WHEN I WAS GOING THROUGH THE PROJECT, SOME OF THESE HAVE OTHER WAYS WE CAN FUND IT.
LIKE FOR INFRASTRUCTURE, INFRASTRUCTURE IS WHAT WE DO.
WE CAN DO INFRASTRUCTURE THROUGH OUR, OUR TYPICAL CIP ROUTE.
UH, WHEN YOU'RE LOOKING AT CORRIDORS AND GATEWAYS, WE TYPICALLY CAN DO THOSE FROM COS.
BUT I PUT ON HERE LIMITED ON ALL THESE BECAUSE WE'VE TALKED ABOUT, WE HAVE 150 MILLION OF CAPACITY HERE.
WE HAVE LIMITED CAPACITY ON COS WE HAVE LIMITED CAPACITY ON TAX INCREMENTAL FINANCING AND GRANTS ARE EXTREMELY LIMITED AT THIS POINT.
SO MY SUGGESTION IS, IS IF THE COMMITTEE WISHES, WE CAN ALSO LOOK AT IDENTIFYING WHAT POTENTIAL OTHER FUNDING SOURCES FOR EACH PROJECT AND EVEN A BALLPARK AMOUNT IF, IF Y'ALL WOULD LIKE TO SEE THAT FOR EVERY SINGLE ONE OF THE PROJECTS WE LISTED TO HELP WITH Y ALL'S PRIOR PRIORITIZATION.
YEAH, AND I THINK THAT'S IMPORTANT.
AND MATT TOUCHED ON LIKE THE, THE GATEWAYS AND, AND CORRIDORS BECKY PRESENTED ON THAT LAST TIME.
AND THERE IS A MASTER PLAN UNDERWAY FOR THAT, THAT IS PRIORITIZING AND COSTING EVERY GATEWAY AND EVERY CORRIDOR WITHIN THE CITY.
SO THERE WILL BE A MASTER PLAN TO START IMPLEMENTING OVER TIME.
UM, IT'S, UM, TENS AND TENS AND TENS OF MILLIONS OF DOLLARS THAT IF, IF THE BOND PROGRAM BECOMES ALL OF JUST THAT, THEN YOU MAY HAVE LOST OUT ON SOME OPPORTUNITIES FOR THINGS THAT JUST CAN'T HAPPEN WITHOUT THE BOND.
SO THAT'S WHY WE THOUGHT BUCKETING THEM THAT WAY WOULD BE, I'LL JUST ADD ON SOME OF THOSE, UH, SOME OF THESE THINGS THAT WE'RE, IF WE'RE INTERESTED IN LOOKING AT ROIS LIKE A CORRIDOR IFICATION AND GATEWAY, THAT'S EXTREMELY SUBJECTIVE TO DETERMINE THE POTENTIAL AMOUNT OF MONEY.
SO SOME OF THESE MAY BE JUST EXAMPLES IN OTHER CITIES OR CASE STUDIES SHOWING HOW THIS IS THE ECONOMIC IMPACT IN A REAL WORLD SETTING, WHAT IT'S GENERATED, NOT NECESSARILY, I CAN'T PREDICT BY DOING GATEWAYS HOW MUCH ADDITIONAL PROPERTY TAX AND SALES TAX IS GONNA GENERATE, BUT CAN PROVIDE CASE STUDIES OF WHAT OTHER, WHAT OTHER CITIES HAVE DONE AND SHOW THOSE ON THAT PIECE.
UM, BEFORE WE GET INTO ANY OF THE NUMBERS, ANY QUESTIONS
THERE'S A MASTER PLAN CURRENTLY ON THEIR WAY.
SO TYPICALLY WHAT WE DO AS A CITY IS TRY TO FIRST COME GET THE CONSULTANTS AND ARCHITECTS ON BOARD TO IDENTIFY HOW MUCH IT'S GOING TO COST AT EACH ONE.
AND THEN ALSO PRIORIT SO WE CAN PRIORITIZE WHAT ARE THE MOST IMPORTANT PIECES.
AND WE LOOK ACROSS THE CITY AS A WHOLE.
'CAUSE THERE'S TONS OF CORRIDORS AND GATEWAYS, BUT FINDING THE QUICK WINS AND THEN ALSO FINDING THE MOST, MOST, UH, HIGH, HIGH IMPACT, HIGH VALUE OPEN CORRIDORS INTO THE CITY.
[00:20:01]
SOURCES OF PART OF THAT? NO.TYPICALLY WHAT THAT WILL BE IS JUST A COSTING OUT WHEN IT COMES TO FUNDING SOURCES THAT'S EITHER WE'RE GONNA DECIDE THROUGH THIS BOND COMMITTEE, WHICH, UH, CORRIDORS WE THINK SHOULD BE IN THE BOND PROGRAM AND ANYTHING ELSE WILL JUST HAVE TO GO INTO OUR CIP
UH, THIS IS, UH, THE, THE POTENTIAL ALTERNATIVE FUNDING SOURCE IS A ONE SHOT OR A STANDBY.
WE DON'T HAVE ACCESS TO SALES TAX OR PROPERTY TAXES.
WELL, WE DO HAVE TIFF INCREMENT FINANCE MONEY, BUT IT'S, I'M JUST SAYING IT'S LIMITED.
THERE'S LIMITED AMOUNT OF MONEY THAT WE CAN APPLY WITHOUT GETTING ADDITIONAL MONEY.
AND UH, THE GOAL ALL THESE
RIGHT? THOSE ARE TAX PROPERTY TAXES.
THE POLITICAL
WE HAVE TO WEIGH IN THE POSSIBILITY OF THE ARE THERE'S GONNA BE, UH, SOURCES WE CAN DEPEND ON IF WE COMMIT OURSELVES AND THE MONEY STARTS GOING IN, IS GONNA BE, UH, THE RESIDENTS GONNA BE THAT'S A COMPLICATED QUESTION.
I'LL TRY TO
SO THE, THE STATE HAS THROWN OUT THAT THERE'S AN INITIATIVE TO, THERE'S BEEN AN INITIATIVE FOR 10 YEARS PLUS TO LOWER PROPERTY TAXES.
NOW THERE'S EVEN TALK, SOME PARTIES TO COMPLETELY REMOVE PROPERTY TAXES.
IN ORDER TO DO THAT, WHAT YOU'LL END UP WITH IS WHAT'S CALLED SOME FORM OF A VALUE ADDED TAX, WHICH IS BASICALLY A HIGHER SALES TAX.
SO THAT'S WHY WHEN NOT, WE WERE TALKING THE FIRST PART, NOW THE BIGGEST NAME IN THE GAME IS IT'S NOT JUST GETTING PROPERTY TAX BUT GETTING INCREASED SALES TAX, GETTING MORE JOBS AND THOSE THINGS AND GETTING MORE PEOPLE TO COME TO GARDEN TO SPEND THEIR MONEY.
SO THAT'S ONE, ONE COMPONENT OF THAT.
THE SECOND COMPONENT IS, I DON'T KNOW HOW THEY EVER UNWIND PROPERTY TAXES WITH ALL THE AGREEMENTS WITH BOND HOLDERS THAT WE HAVE FOR ALL THE PAST ISSUED DEBT, IT WOULD HAVE TO BE SLOW AND GRADUAL OVER TIME.
THEY CAN'T JUST COME OUT AND SAY NO MORE.
DO WE HAVE PROPERTY TAXES BECAUSE THERE'S BILLIONS UPON BILLIONS OF DOLLARS IN TAXES OF DEBT BACKED BY PROPERTY TAXES.
SO I THINK IT WOULD BE A SLOW UNWIND THAT YOU'RE YOU'RE, YOU'RE RIGHT ON PROPERTY TAXES ARE A HIGH PRIORITY FOR THE STATE AND THEY WILL CONTINUE TO BE FOREVER AGAIN, UP THE SALES TAX.
AND, UH, THAT'S ANOTHER ISSUE.
UH, NEXT QUESTION I HAVE IS THE, IN THE PERMANENCE OF A PROJECT AS A DEVELOPMENT, THAT'S WHAT ARE THE, THE PROSPECTS OF, OF A PROJECT BEING MORE PERMANENT THAN OTHERS BECAUSE OF UNIQUE FACTORS, LET'S SAY THE VA HOSPITAL AT THIS POINT BE THERE FOR A WHILE, UH, IN STRIP MALLS OR PAYMENT, UH, CENTERS, DEPENDING ON THE ECONOMY, PEOPLE GET BORED WITH, UH, WHATEVER TOYS ARE OUT THERE.
OCCASION POINT, I KEEP GOING, FIRE WHEELS TOWN ALL AND ON, I'M AMAZED AT THE NUMBER OF
SO AGAIN, THE LIKE LIKELIHOOD OF A PERMANENT, YOU KNOW, WHATEVER IT IS, THE, THE, UH, MEDICAL DISTRICT OR SOMETHING.
BUT WE ALSO HAVE TO CONSIDER THAT IT JUST LIKE OF MARK, THAT'S SUPPOSED TO BE THE ANSWER READY HERE TO GO VAILABLE RIGHT NOW.
SO WE GOTTA MAKE SURE, BECAUSE, UH, I KNOW WE GET AFFORD, GO BACK TO THE TAXPAYER.
THERE'S A NUMBER FIVE, EIGHT YEARS FROM NOW.
[00:25:01]
I PUT THAT OUT THERE.I THINK REALLY WHAT YOU'RE GETTING AT IS THERE'S, THERE'S GOTTA BE SOME FORM OF CALCULATED RISK WHEN Y'ALL ARE LOOKING THROUGH THIS.
I MEAN, WE CANNOT GUARANTEE THAT ANY, ANY NUMBER THAT WE THROW OUT'S GOING TO BE, THAT'S GOING TO OCCUR A HUNDRED PERCENT.
SO WHAT WE CAN PROVIDE YOU RANGES, BUT I THINK MAYBE EVEN FINDING CALCULATED RISK ON EACH ONE OF THESE PROJECTS WHEN YOU SEE THIS PROJECT, WE DON'T HAVE A MASTER PLAN FOR IT.
WE DON'T, IT'S JUST CONCEPTUAL.
UM, WE, AND WE CAN PROVIDE THAT KIND OF CONTEXT, BUT, UH, THAT BE ECONOMY POLITICALLY AND WHAT HAVE YOU TO LOOK BEYOND THE, UH, TRADITIONAL CONSIDERATIONS AND SAY, OKAY, WOULD THIS BE A FACTOR ALSO THAT BE A FACTOR? THEN HOW DO WE, WAIT A MINUTE, HOW DO WE AFFECT, SORRY.
QUESTION ABOUT THIS MARKETING.
UH, WE CAN DO A LOT OF THINGS, BUT IF WE DON'T MARKET IT, IT WON'T GET VERY FAR.
BUT PEOPLE KNOW THAT THERE SO IS IS THIS TO BE FOLLOWED WITH A, UH, DEDICATED MARKETING PROGRAM FOR THE BOND PROGRAM? UH, YEAH.
UH, WELL WITH, WE'RE GONNA BE KIND OF RUNG BY STATE LAW.
SO WE CAN'T, WE CAN'T GO OUT AND MARKET TO VOTE YES.
AS THE ENTITY THAT'S ASKING FOR THE VOTERS TO DO THAT NOW, YOU KNOW, GETTING ASSOCIATIONS AND YES, THERE WILL BE AN EFFORT FOR US TO GO OUT AND, AND GET GROUPS OF PEOPLE TO HELP US MARKET THIS, BUT AS FAR AS US MARKETING IT OURSELVES, WE CAN'T DO THAT.
BUT, BUT YOU'RE RIGHT ON THE, YOU'RE RIGHT ON THE RIGHT TRACK WITH THAT ALL LOTTED DISCUSSIONS ABOUT IT ON A, EVEN GETTING A CONSULTANT TO COME IN AND HELP WITH THIS, BUT THERE IS GOING TO BE A MASS EFFORT, NOT NECESSARILY FROM THE CITY
IF I COULD ADD TO THAT, I, I WOULDN'T CALL IT MARKETING ACTUALLY BECAUSE THAT WOULD IMPLY A PARTICULAR INFLUENCE IN A DIRECTION.
WE ABSOLUTELY HAVE ALL THE CHANNELS AFFORDABLE TO US TO PROVIDE INFORMATION.
SO JUST LIKE YOU'VE SEEN IT BEFORE IN THE PAST, RIGHT? HERE'S YOUR INFORMATION, YOU CAN GET IT IN ANY CHANNEL.
WE'LL CONTINUE TO TRANSLATE IT IN MULTIPLE LANGUAGES AND THEN AS INDIVIDUALS YOU CAN SAY AND DO WHAT YOU PLEASE, THE CITY CAN.
OBVIOUSLY THE POLITICAL ACTION COMMITTEE CAN BE A, YOU KNOW, ESTABLISHED SEPARATE AND COMPLETE AND DO WHAT THEY WANT DO, PROBE FOR IT AGAINST IT, WHATEVER.
BUT YES, WE HAVE A LOT OF TOOLS TO GET THE INFORMATION OUT IN MULTIPLE CHANNELS.
THE REASON ASK THAT PRISCO DEVELOP THEIR CORPORATION BASICALLY.
AND, UH, IT WAS VERY SUCCESSFUL.
MAINLY BECAUSE THEY HAVE, YEAH.
WELL THE OTHER ISSUE IS THAT WE'VE GOT AN OPPORTUNITY TO DO MARKETING KIND OF IN THE BACK DOOR SCENES BECAUSE SURVEY TO PEOPLE THAT YOU WANT TO GET MOVED TO THESE AREAS AND ASK THEIR OPINIONS AND GET 'EM TO COMMENT, IF WE DID THIS, WOULD THIS BE THE TYPE OF FACILITY OR, UH, SITUATION THAT WOULD BE INTERESTING TO RETAILERS OR RESTAURANTS OR WHATEVER, LIKE WE SAID.
AND UH, UH, THEY PROBABLY WOULD CONTRIBUTE TO THE KNOWLEDGE THERE.
BUT AT THE SAME TIME YOU'RE TELLING THEM WHERE YOU'RE HEADED AND WHAT YOUR INTENTIONS, INTENTIONS ARE IN GETTING A COMMENT.
AND SO IT'S NECESSARY TO PERFORM THIS FUNCTION THAT YOU'RE TRYING TO DO AND THEREFORE YOU END UP, IT'S, IT IS MARKETING IN A DIFFERENT WAY, BUT YOU'RE ASKING ALL THE PEOPLE THAT ARE MOST LIKELY TO BE USING THIS, SO, UM, THAT THEY THEN THEY WILL KNOW ABOUT IT AHEAD.
SO THERE ARE WAYS TO DO DO THAT WITHOUT ACTUALLY SAYING, THIS IS A MARKETING PROGRAM, IT'S A RESEARCH PROGRAM, IT HAS A SIDE EFFECT.
I'M THINKING ALONG THE SAME LINES THAT YOU ARE IN TERMS OF RELATED INVESTMENTS.
AND WE HAVE PLACES NOW, FOR EXAMPLE, THE, THE ART CENTER THAT ALREADY IN PLACE ALREADY ESTABLISHED AN ENTIRE NEED WORK IN ORDER TO KEEP THE VALUE OF THE INVESTMENT THAT WAS MADE FOR US.
SECOND PIECE IS WHEN WE STARTED THIS WHOLE DISCUSSION, THE TRIGGER FACTOR OF WHAT'S HAPPENING WITH PROPERTY TAX, WE VERY MUCH A PART OF THAT DISCUSS, I'M WATCHING IT FROM WHAT
[00:30:01]
WE ARE.AND WITHIN THAT MIX, INVESTING IN OPPORTUNITIES TO GENERATE REVENUE AND INCREASE TRAFFIC IN THE GARLAND IS PROBABLY ONE OF OUR BETTER VETS AND HAVE PLACE, I LOOK AT, UH, EVEN THE SOUTH GARLAND NEST, THAT
AND THEN I'M LOOKING AT WHERE OUR INVESTMENTS ARE ALREADY.
AND OUR DOWNTOWN TURNED OUT TO BE QUITE A RISING STAR.
AND HAD A PERSON CALLING ME THIS MORNING SAID, I'M COMING TO TOWN, I'M COMING TO GARLAND.
I'M WANNA GO LEAVE THE FOREST OF THE SUN.
SO, UM, MY ISSUE FOR US IS LET US THINK AS CLEARLY AS WE CAN AS A COMMITTEE ABOUT WHAT'S THE LONG HAUL INVESTMENT.
DO WE NEED TO MAKE SURE THAT WE MAINTAIN AND, AND CREATE LIABILITY AROUND.
WE'VE ALREADY GOT ESTABLISHED, UM, INDIVIDUALS THAT ARE COMING TO DARWIN.
LIKE FOR THE
YOU ONE BED BREAKFAST, UM, THAT WAS THERE IN BURY A HAD TO CLOSE BECAUSE OF COVID.
YOU KNOW, IT'S JUST NOT THERE.
SO I GUESS THE PLEA IS, AND THIS
WE ALSO NEED TO MAKE SURE THAT IF THERE ARE SOME OPPORTUNITIES TO PRESENT THEMSELVES, WE HAVE SOME FUNDING TO GET THEM DONE.
UH, WITHIN THAT, THAT MIX, WE NEED TO REMEMBER WHAT GARLAND IS AND MAKE SURE WE'RE SUPPORTING THAT WITH WHERE THE WE'RE INVESTING.
IT'S, THIS IS ONE OF THE NICEST SMALL TOWNS IN THE WORLD AND IT'S NOT SMALL.
IT'S 200,000 PEOPLE WITH A VERY CULTURAL BASE, HAVE VERY INCOME BASE.
WE'RE ONE OF THE FEW PLACES AND ONE OF THE BIGGEST BATTLES I'M FIGHTING CITY DOWN RIGHT NOW IS WE CAN'T FIND HOMELESS WORKERS TO WORK WELL.
IT'S GOT SOME SUBSTANDARD HOUSING, BUT AT LEAST WITH THE RENOVATION DOLLARS AND INVESTMENTS IN THOSE, THE POSSIBILITIES TO KEEP A CLIENT BILL HERE.
SO THAT'S, IT'S NORMAL LOT BECAUSE THERE ARE LOTS OF REALLY SEXY THINGS THAT YOU'RE GOING TO DO.
BUT I'M, I'M REALLY LOOKING FOR, WE INVESTED, WHAT PROMISES DO WE NEED TO KEEP SOMETHING TO DO THIS TIME BECAUSE ALL THE TIMES THAT I BEEN POLITICALLY AND EVERYWHERE ELSE.
SO THAT'S MY 360 NEAR THE, NEAR THE, UH, THE MARKET.
ANOTHER QUESTION SORT OF ALONG THE LINES OF THE MARKETING.
UM, DOES THE CITY DO ANY, LIKE, I GUESS TOWN CALL MEETINGS, LIKE WITH THE COMMUNITY TO DISCUSS SOME OF THE PROJECTS? IS THAT PART OF, WAS THAT THE CODE? YES.
I THINK WHAT WE WERE TRYING TO GET AT IS WE'RE WE'RE GONNA, WE'RE GONNA INFORM OVER, INFORM, INFORM, INFORM FORM THROUGH ALL MEANS.
I SEE THAT THE, UH, DOWNTOWN YOUR LAST SATURDAY NIGHT COULD NOT GET INTO FORTUNATE SUN FOR TWO HOURS.
COULD BE IN SOMEWHERE ELSE, BUT THE SQUARE WAS LOT.
THERE WERE TONS OF PEOPLE DOWN HERE AND ALL WAS SITTING OUTSIDE CAME, COMES A COUPLE TIMES A YEAR.
BUT I MEAN, IT WAS FULL DOWN HERE.
WE'VE GOT TENS OF MILLIONS OF DOLLARS INVESTED NET SQUARE.
WHAT CAN WE DO TO BUILD ON THAT AND SUPPORT THAT? BECAUSE WE'VE GOT PEOPLE FROM ARLINGTON AND TO GARLAND ARLINGTON'S DONE A LOT OF STUFF.
THAT'S, THAT'S, THAT'S A VERY POSITIVE IMPRESSION OUTSIDE.
WE NEED TO SUPPORT THAT ON THE KILLER.
ADD ONE THING COMING OFF THE TIP, WE HAVE OVER 86 SMALL BUSINESSES THAT ARE INTERESTED IN BRINGING GROW WRITING
ALRIGHT GENTLEMEN, NEXT, WELL I WAS GONNA ADD TO THE, THE 150 WOULD PROVIDE A MEANS FOR THE CITY TO OFFER INCENTIVES WHERE THEY OTHERWISE COULDN'T TO DEVELOP PARTNER.
AND SOME OF THOSE COULD BE PROJECTS THAT COULD BE DONE CONTINGENT ON THESE THINGS THROUGH DEVELOPER AGREEMENTS THAT WERE DONE IN PARALLEL, NOT BUILD IT, HOPE THEY WILL COME, BUT IT WOULD BE SOME, UH, MEETINGS
[00:35:01]
TO OFFER, UM, A PARTNER, UM, TO BE CONCURRENT WITH THE PROJECT, NOT WELL IN ADVANCE.SO THE RETURN ON INVESTMENT COULD BE
SO WHAT BUCKET DOES THAT FALL IN? PROGRAMS? IT'LL BE IN OTHER PROGRAMS BUCKET WITH OTHER PROGRAMS. EITHER CITYWIDE, CITYWIDE, MAYBE PROGRAMS. YEAH, ON YOUR FIRST PAGE CITYWIDE PROGRAM, WE CALL IT COMMERCIAL FACADES, BUT UM, NEAR THE BOTTOM WE HAD NEIGHBORHOOD VITALITY OF 7 MILLION AND THAT WAS THE SAME PROGRAM THAT WAS IN THE LAST BOND PROGRAM, JUST AS A PLACEHOLDER.
BUT AGAIN, THAT COULD BE SCALABLE.
AND THEN THE, UM, COMMERCIAL FACADES IS ANOTHER PROGRAM ON YOUR
HAVE A BUCKET FOR LAND CITY SLIDE UHHUH.
AND IT'S GONNA ONE FIVE BUCKETS.
THE SO WOULD BE REVITALIZATION.
CORRIDORS AND GATEWAYS COULD ALSO BE A, ANOTHER BUCKET THAT'S CONSIDERED, IT DOESN'T HAVE TO BE TIED TO VERY SPECIFIC CORRIDORS.
'CAUSE THAT COULD BE DONE THROUGH THE MASTER PLAN PRIORITIZATION EXERCISE, BUT AT LEAST YOU'D HAVE, AS THAT'S BEING PRIORITIZED AS CITY LEVEL, THEN AT LEAST YOU'D HAVE THE MEANS TO JUMPSTART.
SO THAT, SO THAT, THAT'S ANOTHER EXAMPLE BUCKET THAT IS LESS SPECIFIC BUT SCALABLE.
UM, WE GET SOMETHING, UH, RELATED TO THE CORRIDORS AND GATEWAYS.
UM, WE GET SOME KIND OF IDENTIFICATION OF A LIST PRIORITIZED BY LIKE TRAFFIC.
LIKE WHAT ARE THE BIGGEST HITTERS TO PRIORITIZE THOSE? YEAH, WE, WE HAVE, THAT WAS IN, IT WAS IN THE PRESENTATION AT A VERY HIGH LEVEL, BUT WE HAVE THAT.
THERE'S, THERE'S A COUPLE WAYS THEY'RE PRIORITIZED, UM, AND SCORED.
SO THERE'S, THERE'S MORE THAN WE CAN AFFORD, BUT THERE'S ABSOLUTELY, YOU KNOW, OBVIOUS STUFF, RIGHT? I, I, 30 78 GARLAND SHOT ALL, THERE'S SEVERAL THAT WE CAN PRIORITIZE IN SEVERAL WAYS AND WE'LL, WE WILL FACTOR THAT IN AT THE NEXT, PROBABLY NEXT WEEK I WOULD THINK WHEN WE CAN BOIL DOWN WHAT YOU GUYS TELL US TONIGHT.
BECKY PRESENTED A MAP THAT HAD
AND IT WAS TIERED AND THEN IT HAD GATEWAYS DOTTED ALL OVER.
THAT'S WHAT WE'RE WORKING THROUGH WITH HER TO COST.
JUST HAVE A COUPLE MORE, MORE SLIDES.
SO THIS IS AN EXAMPLE OF, OF THE 352 MILLION, UM, JUST ORDER A MAGNITUDE.
HARBOR POINT HAD $75 MILLION WORTH OF, OF, OF DIFFERENT THINGS.
MEDICAL DISTRICT HAD ANOTHER ROUGHLY 75%.
SO THOSE TWO ALONE IS 150 MILLION.
SO IF YOU WERE TO PRIORITIZE THOSE TWO AND NOTHING ELSE, THAT WOULD BASICALLY BE THE IMPACT.
SO THAT'S WHY WE DID WANNA BREAK THIS OUT.
UM, I, I'LL POINT OUT CENTERVILLE MARKETPLACE, THAT WAS A, A BOND CITY COMMITTEE, UM, PROJECT AND THE WAY THAT'S KIND OF BUCKETED, UM, REALLY IN THE CITYWIDE PROGRAM.
SO WE DIDN'T, DIDN'T LEAVE THAT OUT.
THIS IS REALLY JUST A ROLL UP AND I'LL GO THROUGH THESE BOT STUDY COMMITTEE PROJECTS HERE, HERE IN A MINUTE ON HOW WE CAME UP WITH THAT THE OTHER WAY.
UM, SO THEN WE TOOK THE LAND ASSEMBLY FROM EACH CATALYST AREA.
THE INFRASTRUCTURE FROM EACH IS ABOUT 25 MILLION.
YOU'LL SEE DESTINATIONS AND AMENITIES, A HUNDRED MILLION.
THAT INCLUDED THE GREENVILLE NUMBER THAT WE'LL WE'LL SHARE WITH YOU.
THIS EXISTING PROGRAMS, THAT'S JUST NEIGHBORHOOD VITALITY.
SO, UM, AGAIN, IF THE REASON WE WANTED TO BREAK THESE OUT SEPARATELY IS IF YOU PRIORITIZED THIS IN, IN CORRIDORS, FOR EXAMPLE, THAT MAY NOT TOUCH EVERY CATALYST AREA, IT MIGHT, MIGHT SKEW IT.
SO, UM, UM, SO I'M GONNA TOUCH THE REACH OF THE GATEWAY, UH, THE BOND STUDY PROJECTS, UM, THAT Y'ALL TALKED ABOUT.
AND IF I MISSED ANY, JUST JUST LET US KNOW, BUT THEN WE CAN COME BACK TO THIS.
BUT, UH, THE FIRST ONE WE TALKED ABOUT THIS, THE GATEWAY DRAINAGE STUDY THAT IS INCLUDED IN THIS MASTER LIST.
WE TALKED ABOUT AT ONE OF THE LAST MEETINGS OF DIFFERENT WAYS OF HOW THIS PROJECT
[00:40:01]
COULD BE IMPLEMENTED AND, AND WHAT WAS PRESENTED LAST TIME IS IT COULD BE PHASED AND IT'D BE ANYWHERE FROM $6 MILLION TO GET IT STARTED ALL THE WAY UP TO, IT'S A $25 MILLION THING.THIS ONE WOULD HAVE ANOTHER WAY OF FUNDING, ALTHOUGH IT'S LIMITED, BUT THIS ONE DOES NOT REQUIRE ED BOND FUNDS TO DO.
BUT IT COULD BE FUNDED IN IN OTHER MEANS IF IT WAS PRIORITIZED HIGHLY BY THE CITY.
UH, THE NEXT ONE WAS THE GRANDVILLE ART CENTER RENOVATION.
SO WE TOUCHED ON THIS BRIEFLY.
UM, THEY SENT OVER THE, THE FEASIBILITY AND THE COSTING AND WE'VE, UM, IT WAS A, A LITTLE BIT OLD, I THINK WAS COMMUNICATED BEFORE WAS EIGHT TO 20 MILLION.
UM, TODAY'S COST WOULD BE CLOSER TO 25 MILLION TO DO DO IT ALL.
BUT THEN WE ALSO ADDED THAT 20% ON TOP OF THAT.
SO, UM, REALLY TO, TO TOTALLY REDO IT WOULD BE 25.
THE $10 MILLION DOLLAR NUMBER WAS THE BANDAID.
SO THAT'S WHY THAT, THAT'S ANOTHER SCALABLE GOAL.
JUST LIKE THE AC UNIT AND THE IN INTERNAL STUFF.
SO THAT DOESN'T INCLUDE MAKING LOOK FOR ANYTHING ELSE THAT'S AC AND PLUMBING UP TO, UP TO CODE.
KEEP IT, MAKE IT LAST A LITTLE LONGER.
UM, I WILL SAY THIS IS A BOND STUDY COMMITTEE PROJECT.
YOU'LL NOTICE IT'S NOT ACTUALLY INCLUDED ON THE LIST OF BOND STUDY COMMITTEE PROJECTS.
WE, IT COULD BE, BUT WE WENT AHEAD AND PUT IT IN THE DOWNTOWN DESTINATIONS AND AMENITIES.
SO THE DOWNTOWN DESTINATIONS AND AMENITIES NUMBER LOOKS REALLY, REALLY LARGE AND IT'S BECAUSE WE'VE INCLUDED FIFTH.
SO, UM, UM, THE NEXT ONE WAS THE, THE FIFTH STREET.
THIS ONE IS INCLUDED IN THE BOND STUDY COMMUNITY PROJECT.
UM, THIS WAS PROVIDING, UM, SOME TRUCTURE IMPROVEMENTS THAT THIS ONE AGAIN IS SCALABLE JUST LIKE Y'ALL PRESENTED.
SO THIS IS A ONE TO THREE, $3 MILLION.
CAN THIS ALSO BE HELPED WITH, RIGHT.
AND ARTS THROWN IN THERE AS WELL.
DID THAT PREVIOUS PROJECT THAT JUST IT, RIGHT? THIS ONE DOES NOT REQUIRE ECONOMIC DEVELOPMENT.
A LOT OF THE CITY ONLY INFRASTRUCTURE LIKE CORRIDORS AND GATEWAYS, UM, JUST LIKE THE REC CENTERS, CITY PARKS, THOSE DON'T REQUIRE BUT TO WHY I PUT LIMITED ON TIFF AND THE DOWNTOWN TIFF BY ITSELF, IT'S A 20 YEAR TIFF.
IT'S GONNA GENERATE ROUGHLY $17 MILLION FOR, THAT'S NOT EARMARKED ALREADY FOR OTHER NEEDS.
WE CAN'T WAIT 20 YEARS 'CAUSE THIS, THAT 25 NUMBER'S GONNA BE 80 90.
SO BACK TO THE POINT OF TIFF, WHAT, WHAT I WOULD LIKE TO DO IS JUST THE TIFF BE A SUPPORT MECHANISM TO HELP FUND SMALLER, SMALLER COMPONENTS OF IT.
AND, AND BACK TO YOUR EARLIER STATEMENT TOO.
LIKE, SAY SAY THINGS LIKE HVAC, MECHANICAL, THOSE KINDS OF THINGS.
LET'S SAY THOSE ARE 2, 3, 4, 5, THOSE, THOSE CAN GENERALLY BE HANDLED TOO WHEN WE, WHEN WE GET TO THAT POINT WHERE WE JUST HAVE TO, THAT MIGHT BE COS OR SOMETHING LIKE THAT.
THAT'S WHY WE FELT LIKE IT, YOU KNOW, THE RANGE IS THERE, BUT THE HIGH END IS WHAT MIGHT BE MORE APPROPRIATE FOR THIS FUNDING MECHANISM, I GUESS.
UM, UH, THE PEDESTRIAN BRIDGE WE TALKED ABOUT, UM, AT THE LAST ONE, THAT'S ABOUT A FIVE TO $7 MILLION, UM, BRIDGE AND I, AND I'LL POINT OUT THE, THE RED IS, IS REALLY ADDING ON TO THE SHILOH BRIDGE TODAY.
AND ONCE YOU GET TO THAT END POINT, YOU DON'T HAVE TO EVER REALLY CROSS SHILOH IF YOU'RE OVER HERE, BUT YOU WOULD NEED TO BUILD A, A SIDEWALK EXTENSION DOWN DOWN TO THE BRIDGE.
SO I THINK THERE IS A LITTLE BIT OF CONFUSION LAST TIME.
YOU DON'T ACTUALLY NEED TO CROSS SHILOH.
THAT'S ABOUT A FIVE TO $7 MILLION PROJECT.
BUT IT DOES INCLUDE LOOKING AT THE MASTER PLAN, DOING THE H AND H AND THE HYDRAULICS TO MAKE SURE ALL THOSE
[00:45:01]
DO YOU HAVE A PROBLEM WITH THIS ONE AS FAR AS THE ENGINEERING FACTOR WITH THE FLOOD ZONE WITHIN THE FLOOD AREA, RIGHT? THAT CORRECT? YOU CAN'T BUILD IN THE FLOODPLAIN.
AND THIS IS A FLOODWAY, WHICH IS WORSE THAN A FLOODPLAIN.
SO YOU CAN'T JUST PUT THE BRIDGE RIGHT HERE.
YOU CAN'T BUILD IN THE FLOODPLAIN.
SO YOU HAVE TO GET IT OUT OF THE FLOODPLAIN.
YOU'RE GONNA HAVE GEARS IN HERE.
AND THAT'S WHY THEY DO THE HYDRAULIC AND HYDRAULICS ANALYSIS AND THE, AND THE STRUCTURAL DESIGN.
UM, I'M TRYING, THINK OF AN EXAMPLE JUST LIKE THIS.
SO IF YOU GO ON, UH, AT, UH, CENTERVILLE WHERE WE'VE GOT, UM, LAWN, WIND PARK, THAT'S EXACTLY THE SAME THING THERE.
THERE'S A PEDESTRIAN TRAIL, IT'S SHADOWS THE ROAD BECAUSE IT CAN'T BE DOWN IN, IN THE CREEK.
SO IN ORDER TO SPAN OUT OF THE LANE, IT'S A LONG PEDESTRIAN BRIDGE.
FIGHT IS LONG, BUT IT'S SIMILAR.
YOU GO BY THERE AND GOING EAST SIDE, WE'VE KIND OF BOLTED IT ALONG THE SIDE OF THE STREET BRIDGE.
AND THAT'S WHAT YOU'RE TALKING ABOUT WITH YOUR RED LINE JUST BOLTED ON THE EXISTING BRIDGE.
UH, YOU'D HAVE, I WOULDN'T SAY THAT IT, IT, IT, THAT BRIDGE MAY HAVE NOT HAVE BEEN BUILT TO BOLT ANYTHING ONTO IT.
IT, IT MAY END UP BEING A STANDALONE STRUCTURE, UH, THAT, LIKE THE ONE I WAS JUST DESCRIBING, IT'S A STANDALONE STRUCTURE.
IT'S NOT, THERE'S ALSO ONE AT RICK ODEN PARK ON A SMALLER SCALE.
WHEN I SAY SHADOW, WHAT THAT MEANS IS, IS THAT YOU PUT IT BEHIND, IMAGINE A WALL OF WATER COMING IN AND IT HITS THAT BRIDGE.
THAT'S A, THAT'S A BARRIER TO THE WATER.
IF YOU BRING IT DOWN LOWER, THAT'S ADDITIONAL BARRIER.
SO YOU SHADOW IT BEHIND THAT EXISTING BRIDGE.
BUT IT, IT WOULD BE LIKELY IT'S A STANDALONE STRUCTURE.
YEAH, THAT'S THE, THE UPPER END OF THE RIGHT BECAUSE THAT IT IS IF THE BRIDGES DESIGNED TO ACCOMMODATE RIGHT, THAT THEN IT, THAT LOOKED LIKE YOU COULD DO THAT.
BUT THEN IT'S REINFORCING THE BRIDGE.
YOU, YOU'D HAVE TO RE REVIEW THE, THE WAY IT WAS ENGINEERED THE FIRST TIME TO SEE IF YOU COULD DO IT OR NOT.
UM, BOARDWALK, SO THIS ONE, UM, FROM A A SO THIS WAS ANOTHER ONE OF THE TYPES OF PROJECTS THAT WITHOUT LAND ASSEMBLY, WITHOUT SOME INFRASTRUCTURE, THIS, THIS WOULD BE AN, A GREAT OUTCOME.
HOWEVER, YOU GOTTA START WITH, WITH SOMETHING.
SO THIS WOULD, A LOT OF THIS, THESE IMPROVEMENTS WOULD BE PRIVATE, UM, TYPE INVESTMENTS.
THAT WOULD BE A GREAT RETURN ON INVESTMENTS.
BUT, UM, TO GET THIS IN THE COURSE OF A FIVE TO SEVEN YEAR BOND PROGRAM, YOU GOTTA DO THE, THE INITIAL STUFF FIRST.
SO JUST THE FARRIS WHEEL FOR EXAMPLE, UM, COULD BE ANYWHERE FROM FOUR TO 5 MILLION, JUST FROM A, A BALLPARK RANGE.
THEY, THEY BUILT THE ONE OUT IN THE COLONY, UM, I THINK IT WAS TWO AND A HALF MILLION, BUT THAT WAS SEVERAL YEARS AGO.
SO IN TERMS OF GENERATING REVENUE, UM, KIND OF LIKE A GATEWAY.
IT, IT, IT CREATES EXCITEMENT.
YOU'LL SEE IT, IT'LL BRING PEOPLE THERE THAT THEY WILL SPEND MONEY ON OTHER THINGS.
MAYBE IT MIGHT TAKE A WHILE TO PAY FOR JUST THE FAIRFIELD, BUT THE FLOWER.
IT WAS THE, THERE, THERE'S, BUT YOU WILL NOTICE IN THE, UH, HARBOR POINT SECTION FROM THE MASTER PLAN, WE DID ADD, I THINK IT'S $45 MILLION TO INCORPORATE SOME, SOME BOARDWALK AROUND WHERE THE BASS PRO AREA IS AND THEN ALSO WHEN SURF BAY PARK ON POSSIBLE IMPROVEMENTS THROUGH THERE.
SO THE THE CONCEPT IS IN THE MASTER PLAN THAT WOULD BE, UH, OVER IN THE COVER AREA? CORRECT.
AND, AND IS THERE NOT, IS THERE ONE MORE AFTER THIS ONE? I, I WANNA MAYBE KIND OF PAINT AN ANALOGY.
SO IF YOU GO BACK TO LOOKING AT THE BASTARD LIST OF ALL THE POSSIBILITIES AND WE'RE TRYING TO SPREAD THIS MONEY AROUND, UM, RATHER THAN, AS WE WERE TRYING TO ILLUSTRATE PUTTING 'EM ALL IN ONE GEOGRAPHIC AREA OR ALL IN ONE TYPE OF BUCKET, YES, WE COULD SPEND 200 MILLION ON LAND ASSEMBLY, BUT I LOOK AT EACH ONE OF THESE, IT'S JUST ME PERSONALLY, PARTICULARLY WITH THIS ONE.
THIS IS A MASSIVE PRIVATE AND PUBLIC INTEREST INVESTMENT.
BUT I LOOK AT EACH ONE OF THESE AS THIS IS, THIS IS A LIGHTING A SPARK.
WE'RE LIGHTING A FUSE, WE'RE KICKING OVER THE FIRST DOMINO AND LET'S BE WISE ABOUT WHICH DOMINOES WE'RE KICKING OVER.
LET'S, LET'S PICK, YOU KNOW, AND, AND WE MIGHT BE ABLE TO KNOCK DOWN TWO OR THREE DOMINOES WITH A LITTLE BIT MORE MONEY, BUT SPREAD THAT AROUND TOWN.
BUT ONCE WE KICK OFF A COUPLE, AND I THINK MATT'S RIFE, YOU KNOW, ONE THING THAT SAYS A LOT AND DOES A LOT RIGHT NOW IN THIS AREA IS GATEWAY FEATURE AND A AND A BOARDWALK THAT LITERALLY, 'CAUSE I LOVE THE IDEA OF THE BOARDWALK.
WELL YOU GOTTA HAVE ONE, YOU GOTTA HAVE A BOARDWALK.
SO MAYBE THAT IS PART OF THE FIRST KICKOFF OF GATEWAY FEATURE THAT TELLS DEVELOPERS WE'RE OPEN FOR BUSINESS, BRING YOUR MONEY HERE AND HELP US OUT.
[00:50:01]
IT'S FUNCTIONAL RIGHT NOW.SAME THING WITH OTHER AREAS, SAME THING WITH THE GRANVILLE.
SAME THING WITH ALL THESE OTHER PROJECTS.
WHICH DOMINO ARE WE TRYING TO KICK WITH FIRST? IT REALLY JUST COMES DOWN TO THERE'S CERTAIN PARTS OF AREAS OF TOWN LIKE FILL THE DRAINS.
IF YOU BUILD IT, THEY WILL COME.
THERE'S OTHER AREAS THAT ARE JUST GOING TO HAVE TO REQUIRE INCENTIVES TO GET PEOPLE TO COME.
THIS IS JUST A, THIS IS ONE THAT YOU JUST NEED PART OF LAND.
YOU JUST NEED TO LIGHT THAT SPARK.
AND I WOULD BE CONFIDENT THAT BY DOING THE RIGHT THINGS THERE, UH, IT WOULD BRING THE PRIVATE, PRIVATE FUNDS THAT IT NEEDS TO FILL UP.
LINDSEY AND THEN TONY, I ABSOLUTELY LOVE THE IDEA OF THE FERRETS WHEEL, BUT I'M JUST, FROM WHAT I'VE HEARD FROM SO MANY PEOPLE, I CAN'T SEE PEOPLE VOTING FOR, TO PAY FOR THAT.
LIKE WITH PEOPLE HAVE COMPLAINED ABOUT STREETS AND ALL THESE OTHER THINGS THAT I, I JUST FEEL LIKE IF THEY SAW THIS ON A BOX PROPOSAL, THEY WOULD LAUGH.
UH, I PERSONALLY LOVE IT
SO THAT I I IF IT WOULD EVEN HAVE A SHOT ON IT IF WE PUT IT UP PROPOSAL, AND I GUESS THAT'S WHY I USE THE ANALOGY THE WAY I DID IT AT THIS TIME IS BECAUSE WHETHER THAT HAPPENS OR NOT YEAH.
IS PROBABLY, I MEAN, YOU TALK ABOUT RIGHT BEFORE THE HORSE, THAT THAT'S, THAT'S WAY DOWN THE ROAD.
SO WE'RE ONLY GONNA BE ABLE TO KICK OVER THE FIRST DOMINO, WHICH IS, LIKE I SAID, LIKELY A GATEWAY, LIKELY A BOARD WALL.
AND I'M JUST USING THAT EXAMPLE.
IT'S YOUR, YOUR RECOMMENDATION.
BUT I FEEL LIKE THAT'S THE CHOICES WE'RE GONNA BE MAKING ALL OVER THE MAP IS WE CAN'T, WE CAN'T AFFORD TO BUY THE WHOLE THING, BUT LET'S DO THE RIGHT THING FOR EACH ONE.
AND SO DO WE ULTIMATELY END UP THERE? POSSIBLY.
BUT I DON'T, I I WOULD NOT ENVISION THAT NECESSARILY BEING, TO YOUR POINT, THIS IS HEAVY INFRASTRUCTURE TRANSPORTATION GENERATED.
'CAUSE RIGHT NOW, THE, THE THE HARBOR POINT AREA, IT'S HARD TO GET IN AND OUTTA THAT AREA.
SO THIS IS MORE OF A HEAVY INFRASTRUCTURE TYPE PROJECT.
JUST TO BACK ON THAT NOTE, JUST TO FINISH THAT, IT'S HARD GETTING IN AND OUT OF, IS THAT EXPECTED TO BE RESOLVED WITH ALL THE CONSTRUCTION TEXTILES GOT A LOT GOING ON AND, AND IT'S ACTUALLY COMING OUR WAY.
SO THAT'S WHEN YOU'LL START SEEING FAST PRO GOES DOWN AND I 30 GOES OVER AND SO IT STARTS MAKING THAT A LOT EASIER.
AND WHAT WAS THE INCIDENT POSITION ON THAT? REMEMBER, BUT IT'S, I'LL TELL YOU WHAT, IN T STOCK YEARS, IT'S MOVING PRETTY QUICK.
THE, UH, 19, UH, BOND, UH, FUNDING THAT ADDRESS ALL THE NEEDS WE IDENTIFIED FOR THE HIGHWAYS, THE ROADS FOR THE ALLEY.
I'M ALREADY GETTING QUESTIONS A MINUTE.
YOU GUYS ARE GOING TO ANOTHER AND I STILL DON'T HAVE MY ALLEY PAID.
UH, I STILL HAVE POTHOLES OVER HERE.
I I DON'T UNFORTUNATELY, BUT I WOULD HATE FOR THIS TO GO TO THE VOTERS.
SPEND MONEY FOR THAT OVER THERE.
AGAIN, THIS IS WHERE WE, UH, ARE GONNA BE HELD ACCOUNTABLE AND RIGHT.
THE QUESTION IS, ARE WE GONNA BE ABLE TO FULFILL ALL THE NEEDS FOR ALL THE PROJECTS THAT ARE OUT THERE RIGHT NOW FROM THE 19 BOND MONEY? YES.
AND THEN ALSO IT'S FROM A STREETS COMPONENT.
UH, WHEN IS SHE ON THE COUNCIL WITH THE NEXT WEEK, NEXT WEEK.
SO WE'RE, UH, CRYSTAL, THE CITY, UM, UH, ASSISTANT CITY MANAGER OVERALL WORKS IN ENGINEERING IS BRINGING FORWARD A PAVEMENT STUDY.
AND IT TOOK, AND IT'S A VERY DETAILED PAVEMENT STUDY, TELLS US THE CONDITION WE HAVE AND THE COST IT'S GONNA TAKE TO GET TO THE GOAL THAT WE WANT IT TO BE.
IT'S LIKE A SCALE, IT'S LIKE A A HUNDRED POINT SCALE.
WE MIGHT HAVE ROADS THAT ARE FORTIES, FIFTIES, SIXTIES, SEVENTIES.
YOU WANT TO, IT'S A WHOLE THING.
SO WHAT I'M SAYING IS, IS THAT 2019 IS, IS BEING IS BEING ADDRESSED.
THAT MONEY IS NOT AFFECTED BY THIS.
AND THERE ARE LIKELY TO BE OTHER DISCUSSIONS AFTER SHE PRESENTS ON HOW DO WE ADDRESS STREET MAINTENANCE.
WE'VE ALSO GOT THE, WE'VE ALSO GOT A FINANCIAL STRATEGY IN PLACE TO FIND, TO FIND ADDITIONAL STREET PROJECTS.
IF YOU REMEMBER BACK TO LIKE 2015, WE WERE ONLY FUNDING LIKE $10 MILLION WORTH OF STREETS A YEAR, ARE NOW FUNDING ABOUT 38 MILLION.
AND WE'VE SET ASIDE SOME OF THE CAPACITY OUTSIDE OF WHAT YOU'RE SEEING HERE TO CONTINUE RAMPING THAT UP SO THAT WE CAN
[00:55:01]
MEET PAYMENT CONDITION INDEX THAT WILL BE COMPLETED BY THE NEXT MAY WHEN WE HAVE THIS MORNING AS A MATTER OF FACT CONVERSATION ABOUT DISCUSSING THE SUMMARY OF WHAT'S THE OTHER PROJECTS FOR I'MTHAT'S A VERY FAIR QUESTION AND I I I'M NOT BLAMING YOU PERSONALLY, BUT WHAT I'M SAYING IS THE PERCEPTION YEAH, FIXED.
I, YOU TOLD ME FIVE YEARS AGO IT WAS GONNA GET FIXED AND I'M STILL WAITING ON IT AND NOW YOU GONNA GO OVER HERE AND THIS IS, THIS IS WHAT I'M CONCERNED WITH LONG BRAIN TO, UH, PERCEPTION AND, UH, DEALING WITH IT SOMEHOW OR OTHER THAN THIS, THIS IS NOT AN ISSUE WITH THE LOAN COMMITTEE.
HERE'S MORE THE STAFF, UH, CITY MANAGER, WHAT HAVE YOU, BUT IT'S OUT THERE.
I'M JUST, I'M SHARE THIS WITH YOU.
IT'S, IT'S NOT, I I IF HAVE TIME I WOULD LISTEN IN MONDAY NIGHT, TUESDAY, MONDAY NIGHT, THERE WILL BE A PRESENTATION ON THE PAYMENT CONDITION INDEX.
AND FROM THERE, HOPEFULLY MAYBE NEXT WEEK WE CAN HAVE MORE INFORMATION ON THE ACTUAL FUNDING AND IF IT'S NOT NEXT WEEK BUT NEXT WEEK.
BUT PROVIDING THE, UH, THE PLAN OF ATTACK ON THAT
I HAVE NO, YOU'LL UPDATE THE, THE PROJECTS CITY
SO TO ABOUT THAT ISN'T IN THE STREETS AND LEAST IN THE NEIGHBORHOODS PART OF NEIGHBORHOOD VITALITY.
DID WE GO IN THERE? NO NEIGHBORHOOD VITALITY'S MORE OF, UH, UNIFYING GOING INTO THE NEIGHBORHOOD FOR A, A SPECIFIC PURPOSES LIKE MAYBE DOING A MURAL ON A BRIDGE OR, OR WHEN YOU'RE GOING INTO A HOA TYPE SITUATION AND AND HELPING WITH TRAINING WALLS AND CLEANING UP.
SO IT'S SPECIFIC TO INSIDE THE NEIGHBORHOOD, NOT NECESSARILY ROADS OR SIDEWALKS.
IT'S A REVITALIZATION PROGRAM.
NOW TO GET OFF OF THIS, CAN WE GO BACK
AND THIS IS WHAT COMES CONCERN US.
WE CAN A HUNDRED MILLION THINGS FINGER ALL DAY LONG, 24 HOURS DAYS, SEVEN DAYS A WEEK.
BUT WE RUN UP ON THE NEWS WITH PEOPLE IN THE DITCH OR THE HOLE IN THE HOUSE.
I DON'T THINK NOBODY'S GONNA COME HERE OR LOOK AT US BECAUSE WE HAVE OUR PEOPLE FALLS ON THE GROUND.
SO WHAT DO WE NEED TO DO TO GET THIS TOGETHER? HOW WE UNIFIED? BECAUSE THIS CONCERNS ME RIGHT HERE.
THIS IS A FLOOD AREA AND THESE PEOPLE ARE BEING FLOODED EVERY TIME RAINS.
WE HAVE PROBLEMS WITH THE SHIFTING OF, I'M SURE I'M ALMOST POSITIVE THEY HAVE SHIFTING PROBLEMS, FOUNDATION PROBLEMS OVER THERE BECAUSE OF THAT.
SO HOW DO WE GET THIS PART OF THE BOND INTO THE BOND WHERE, UM, BECAUSE THIS IS THE PROBLEM AND IT'S, AND IF WE DON'T FIX IT NOW, NO MATTER WHAT WE DO, THAT'S GONNA BE ALWAYS
DOWNSTREAM'S VERY DIFFICULT, VERY COMPLEX TO CORRECT ALL THE DRAINAGE ISSUES WHEN YOU HAVE ALL THE CREEKS AND FLOODPLAINS WE HAVE IN THE CITY.
WHAT WE'RE TRYING TO DO FROM A FINANCIAL STANDPOINT IS WE HAVE OUR, UH, WHAT WHAT ARE CALLED CREDITS, WHICH JUST LIKE YOU, WHEN YOU GO GET A HOUSE, YOU GET CREDIT FOR BASED OFF OF YOUR INCOME, THE CREDIT FOR OUR TAX, FOR ELECTRICITY, AND FOR OUR WATER AND WASTEWATER, WE HAVE INCREASED OUR STORMWATER RATE BECAUSE WE HAVE ALWAYS HAD A REALLY LOW STORMWATER RATE BECAUSE WE DON'T BOND AGAINST IT.
WE'RE INCREASING THAT CREATE CAPACITY TO START ISSUING DEBT FROM STORMWATER.
OUR STORMWATER RATE AND THE INTENT OF THAT IS TO ADDRESS THESE ISSUES.
BUT IN ORDER TO ADDRESS THESE ISSUES, WE HAVE TO HAVE A MASTER PLAN OF THE ENTIRE CITY.
WHAT ARE THE PRIORITIES? WHAT CAN ACTUALLY BE FIXED? WHAT IS THE BEST MECHANISM TO FIX THESE? 'CAUSE YOU CAN SEE THE RANGES SIX, 25 MILLION AND EVEN I WOULD SAY EVEN THROWING 25 MILLION MAY NOT CORRECT ALL THE ISSUES.
IT'S A HUGE ENGINEERING TASK THAT NATHAN CAN PROBABLY TALK MORE ABOUT.
BUT FROM A FINANCIAL STANDPOINT, WE'RE TRYING TO
[01:00:01]
UTILIZE THE STORM WATER TO ADDRESS THIS.AND THE INTENT OF THIS BOND PROGRAM, WHICH I UNDERSTAND WHAT YOU'RE SAYING WAS THAT IT IS PRETTY MUCH WHAT MARY AND TONY WERE TALKING ABOUT.
WE KNOW THAT WE'RE A MODEST COMMUNITY.
WE KNOW THAT IN THE FUTURE WE COULD HAVE MORE REVENUE TAKEN AWAY FROM US.
WE HAVE TO BRING MORE PEOPLE IN.
SO THIS BOND PROGRAM WAS SET UP TO, TO PROVIDE INVESTMENTS THAT WE DON'T HAVE TO MAINTAIN LONG TERM.
SO IF THAT MAKES SENSE WITH THIS, WE KNOW WE HAVE THE PROBLEM AND WE HAVE SOLUTIONS, BUT IT'S VERY COMPLEX WHEN YOU'RE LOOKING AT CITYWIDE AND THIS IS JUST ONE LITTLE COMPONENT.
YEAH, IT'S REALLY SIMILAR TO WHAT CRYSTAL PRESENT ON ON MONDAY.
AND THEN YOU GO THROUGH THE PRIORITIZATION EXERCISE, IT ADDS UP.
AND, AND THAT'S WHAT MATT WAS TALKING ABOUT FROM A DRAINAGE PERSPECTIVE.
SAME WITH GATEWAYS AND PORTAL.
I, YOU HEAR PEOPLE TALKING ABOUT THINGS THAT ARE
AND I WAS LIKE, OH MY GOD, THAT WAS MY HOUSE.
I NOTHING BUT I WANNA DO, WE WANT TO BEAUTIFY EVERYTHING.
I WANT NOT TO PAY HIGHER PROPERTY TAXES.
YES, I WOULD LOVE EVERY BIT OF THAT, BUT AT THE SAME TIME, NO MATTER HOW MUCH WE BEAUTIFY THINGS, IF WE DON'T FIX THE BIG PROBLEMS, I UNDERSTAND STREETS THAT ARE PROBLEM, THAT'S FINE.
BUT WE HAVE PEOPLE HOUSES, THERE ARE FLOODING THAT ARE FOUNDATION PROBLEM.
I MEAN, THAT'S GONNA GET BAD, THAT'S GONNA GET WORSE.
AND SO WHAT DO WE DO WITH THIS? SO IT SOUNDS LIKE MAYBE ONE, I MEAN THIS BOND, Y'ALL ARE ON THE BOND COMMITTEE THAT'S MAKING RECOMMENDATIONS TO COUNCIL.
SO IF, IF WE HAVE FUNDING SOURCES FOR STREETS, WE HAVE FUNDING SOURCES FOR DRAINAGE THAT THOSE COULD ALSO ALSO BE IN THIS BOND PROGRAM.
BUT ONE THING I WOULD WARN YOU ON IS IF THE BOND PROGRAM FAILS, WE CAN'T DO ANYTHING FOR THREE YEARS.
SO THAT'S ONE REASON WHY IT WAS KIND OF SEGREGATED OUT.
BUT THAT DOESN'T MEAN THAT WE CAN BRING IN PORTIONS OF THIS INTO THE BOND PROGRAM.
THIS IS Y'ALL'S, THIS IS Y'ALL'S BOND PROGRAM.
JOE'S NEXT TO THEN SHOW, UH, I HAD A QUESTION HOW WE WOULD PRESENT THE HARBOR PORT AREA WHEN WE ACTUALLY PRESENT TO PROMOTERS.
UM, ARE, ARE WE PRESENTING IT JUST AS KIND OF A, TO, FOR LACK OF A BETTER WORD, LIKE A VAGUE LIKE ENTERTAINMENT DISTRICT? OR ARE WE GOING WITH MORE OF LIKE A OUTLOOK OF WHAT, UH, SHARONDA PRESENTED? BECAUSE IF PEOPLE ARE STRUGGLING LIKE TONY, UH, BROUGHT UP AND SHARONDA, ED AND MOM, UH, IT MIGHT COME OFF AS A LITTLE, I DON'T KNOW, INSENSITIVE AND IT MIGHT NOT COME OFF AS VERY APPEALING IF JUST KIND OF A, A VAGUE LIKE IDEA PAYMENT DISTRICTS.
WE, WE REALLY NEED TO SELL THE BENEFITS OUTSIDE OF JUST LIKE ENRICHMENT.
THAT'S, IF I WAS IN ONE OF THOSE FLOOD PLANES, I'D BE THINKING, HAVE THIS ENRICH MY LIFE.
YOU KNOW,
SO THAT, THAT'S A GREAT QUESTION.
I'LL TRY TO ANSWER IT THIS WAY.
I MEAN THAT, THAT'S, THAT'S THE CHALLENGE.
AND WHAT'S LIKELY, AND THE WAY THE, THE WAY THE BOND DYNAMICS WORK IN THE PROGRAM IS THERE'S CERTAIN THINGS THAT WILL BE VAGUE BECAUSE YOU WANT THE FLEXIBILITY BECAUSE IT, AGAIN, YOU, YOU CAN'T JUST JUMP IN AND MAKE THAT ONE PROJECT HAPPEN.
THERE'S JUST NOT ENOUGH MONEY TO DO IT, NO PRIVATE INVESTMENT.
SO IT'S LIKELY TO GONNA BE, AND THAT THAT COMES LATER, THAT'S GONNA BE PART OF THE STRATEGY IS ONCE THE PRIORITIES ARE ESTABLISHED, THEN IT STARTS FIGURING OUT HOW DO YOU PACKAGE IT, HOW DO YOU COMMUNICATE IT, HOW DO YOU, HOW DO YOU LEAVE YOURSELF A LITTLE FLEXIBILITY BUT STILL HONOR THE COMMITMENT THAT WAS INTENDED.
AND SO I THINK EVERYBODY'S QUESTIONS ARE, ARE GREAT QUESTIONS AND THEY'RE, THEY'RE, THEY'RE INTENDED IN THE RIGHT PLACE.
SO WELCOME TO CITY MANAGEMENT.
THAT'S THE DISCUSSIONS WE HAVE EVERY DAY, ALL DAY.
YOU'VE GOT LIMITED RESOURCES AND AN ENDLESS LIST OF THINGS THAT NEED TO BE DONE.
AND I FEEL LIKE THAT THERE'S A BALANCED APPROACH THAT IF YOU'RE A COMMUNITY THAT ONLY FO FORCES ON, UH, FOCUSES ON PUBLIC SAFETY, WHAT HAPPENS? EVERYTHING ELSE.
IF YOU ONLY FOCUS ON STREETS AND DRAINAGE, WHAT HAPPENS TO EVERYTHING ELSE WE HAVE? AND THAT WAS THE POINT OF EXPLAINING.
WE'VE GOT OTHER BUCKETS AND THEY'RE, THEY'RE NOT ENDLESS BUCKETS.
WE HAVE OTHER FUNDING SOURCES THAT MATT MENTIONED THAT ADDRESS THESE THINGS SIMULTANEOUSLY BECAUSE IF YOU ONLY FOCUS ON, YOU KNOW, MAINTENANCE AND INFRASTRUCTURE WITHOUT THE FUTURE INVESTMENT, IT TENDS TO BE SHORTSIGHTED.
SO IT'S, IT'S JUST BALANCING THESE SPINNING PLATES AND TRY NOT TO BREAK ANY SO THAT WE'VE GOT, AND THAT'S WHAT A, THAT'S WHAT A ANNUAL.
UM, MR. MCNEIL CAN ATTEST TO THAT WHEN HE WAS ON THE DIAS FOR A LITTLE BIT.
YOU'VE GOT A, A BUDGET SEASON, YOU'VE GOT A CIP BUDGET AND AN OPERATING BUDGET AND LIMITED RESOURCES, AND THAT'S BALANCING THOSE SPINNING PLATES EVERY YEAR, ALL YEAR LONG, KIND TO BRING FORWARD, OKAY, I CAN ADDRESS THESE THINGS, I CAN ADDRESS THESE THINGS.
WE'LL HAVE TO WAIT UNTIL NEXT YEAR.
SO YOU'RE, YOU'RE ASKING ALL THE RIGHT QUESTIONS AND HAVE ALL THE RIGHT CONCERNS, NO DOUBT ABOUT IT.
[01:05:02]
COMMENT, CHIP AHEAD, JIM.UH, CHIP, I, I'M JUST KIND OF FOLLOWING UP ON WHAT YOU SAID AND FROM THE FIRST PERSPECTIVE OF THE, THE COMMITTEE MEMBER IS THAT WE WERE BROUGHT IN OUR CHARGES, ECONOMIC DEVELOPMENT FOR THIS PROJECT.
AND I, I KIND OF FEEL LIKE THIS, THIS FLOODING, WHATEVER, THAT'S ALL KIND OF, AS FAR AS MY PERSPECTIVE, IT'S ALL KIND OF BAIT AND SWITCH.
I MEAN, WE'RE SUPPOSED TO BE LOOKING AT, AT, YOU KNOW, ECONOMIC POSSIBILITIES AND ROI, ALL THIS STUFF.
AND ALSO WE GOT INFRASTRUCTURE AND THINGS WE'RE DEALING WITH.
THAT'S NOT WHAT WE WERE CALLED HERE FOR.
AND I KNOW I, I WANT TO HEAR ABOUT IT.
BUT THAT'S NOT, THAT'S NOT OUR, OUR, OUR JOB.
I MEAN, IT SORT OF IS, BUT IT'S REALLY NOT SPECIFIC TO WHAT WE'RE CHARGED WITH.
I BEEN AWARE OF TIME ON THE COUNCIL.
I WITH CJ WILLIAMS TO HIS DISTRICT,
AND, UH, WE SPENT SOME TIME INFORMING PEOPLE THAT THEY THOUGHT THAT THE CITY WAS SPENDING ALL THIS MONEY ON, UH, THE NORTH END TOWN, UH, WHEN THEY WEREN'T, THE MONEY REALLY WAS GOING TO THE SOUTH END OF TOWN TO FIX ROADS AND, AND THINGS LIKE THAT.
UH, BECAUSE THE DEVELOPMENTS WERE BUILDING THE ROADS AND SEWAGE AND ALL THE OTHER INFRASTRUCTURE FOR THEIR PROJECTS ON THE NORTH END OF TOWN.
BUT WE'D COME OUT OF CITY MONEY.
UH, ON THE OTHER HAND, THERE'S THAT PERCEPTION THAT'S THERE, LIKE YOU SAID,
AND IT MIGHT HELP KEEP THE HOUSING OCCUPIED BECAUSE THE FREE IS NOT, RATHER THAN THE, THE, THE FREE WITH BAD, UH, BAD INFRASTRUCTURE.
SO, BUT THAT'S ONLY HELPS THAT STREET.
THE OTHER PROBLEM IS THAT WE NEED TO DO THIS KIND OF PROJECT IN ORDER TO OBTAIN THE FUNDS NECESSARY TO GROW THE CITY AND GENERATE THE REVENUES IN ORDER TO BE ABLE TO FIX CREEK.
BECAUSE IF IT GETS OLD AND DATED, PEOPLE WILL JUST FLAT READ PERIOD.
SO YOU, YOU'RE TOLD TO DO THAT IN ORDER TO SURVIVE IN THE FUTURE.
SO, UH, YOU KNOW, BACK IN THE
SO THEY SAID, WE DON'T WANT THE FREEWAY HERE.
AND SO WE DON'T HAVE IT COMING BY.
IT'S GONNA BY, BUT IT'S NOT GOING THROUGH AND WE'RE PAYING FOR IT NOW.
AND SO, UM, MORE AND MORE PEOPLE ARE MOVING HERE FROM ALL OVER AND THE DALLAS AREA IS GETTING HUGE AMOUNTS OF PEOPLE MOVING IN AND JUST LOOK AT, I'M ON A COMMITTEE FOR INFRASTRUCTURE IN MY CHURCH AND WE'RE ABOUT TO SPEND A BUNDLE OF MONEY IN SOME UPGRADES AND REPAIRS.
AND THE, THE PROBLEM IS THAT ALL THESE PROJECTS ARE GETTING MORE EXPENSIVE BECAUSE, UH, THE WORKERS ARE NOT BUILDING NEW STUFF FOR NEW PEOPLE AND NEW PLACES.
AND, UH, THEY'RE NOT SO MUCH DOING WORK TO REJUVENATE CITIES.
UH, THAT HAS TO BE FORCED BY THE CITY.
IT'S VERY POSSIBLE TO DO THAT.
IT'S LIKE THE DOWNTOWN STUFF SHOWING.
SO IF I COULD ECHO THAT AND, AND WHAT CHIP WAS SAYING, I, I THINK WE HAVE TO REMEMBER TO THINK ABOUT THESE AS AN INVESTMENT.
AND I THINK TO YOUR POINT, WE'RE VERY AWARE OF THE CHALLENGES IN THE DIALOGUE ABOUT THE NORTH OF THE SOUTH DEVELOPMENT, UH, WITHOUT THE INVESTMENT IN THE NEW THINGS THAT HAPPENED UP NORTH, THAT ACTUALLY IS WHAT GENERATED MONEY THAT WAS AVAILABLE TO PUT ANYWHERE IN THE CITY, SUCH AS DOWN SOUTH.
IF, IF I ALWAYS DIAL THIS BACK TO LIKE, YOU KNOW, YOUR OWN HOUSEHOLD, YOU KNOW, WE, YEAH, GOTTA PAY THE CAR PAYMENT, UTILITIES GOTTA GET THE MORTGAGE DONE, GOTTA DO ALL THAT.
I CAN HAVE NO, I HAVE NO MONEY TO INVEST.
EVEN IF I INVEST A LITTLE BIT AND I, AND I USE THAT TIME VALUE OF MONEY, THAT'S THAT INVESTMENT.
NOW I'VE GOT SOMETHING THAT I CAN LEAN ON 30, 40 YEARS OUT BECAUSE I'VE PUT BACK A LITTLE BIT NOW.
IT ALLOWS US TO PUT BACK FOR THOSE
[01:10:01]
FUTURE DAYS WHEN WE NEED THAT INFRASTRUCTURE IMPROVEMENT AND REPAIR.WELL, DURING, DURING THE COUNCIL, UH, WE MANAGED TO BRING THE, WITH COMMON HEALTH OF THE
WE STILL WEREN'T AS MANY PEOPLE, BUT THEY INCREASED ACCORDING TO, UH, BRIAN
HE SAID IT INCREASED THEIR
JUST THE DATA CENTERS UP THERE IN
SO THOSE ARE PAYING OFF DIVIDEND FOR THAT.
SO IT, WHATEVER PROJECTS YOU CAN DO THAT ARE ESSENTIAL FOR LIFE OF THE CITY.
SO ANYWAY, WE JUST HAVE TO EXPLAIN THAT TO OUR SYSTEM.
AND THIS PROJECT IS FOR ECONOMIC DEVELOPMENT.
ANYWAY, THAT'S WHY I'M HERE, LINDSAY, NEXT ONE OVER HERE.
UM, I FEEL LIKE OUR MOST IMPORTANT THING HERE TO PROBABLY FOCUS ON IS THAT RETURN ON INVESTMENT.
UM, 'CAUSE THAT'S WHAT PEOPLE ARE GONNA WANNA SEE.
THEY WANNA SEE, THEY WANT TO SEE THAT WHAT CHIP PRESENTED ON THE
UM, I THINK WE NEED TO TAKE A HARD LOOK AT MORE CONCRETE PLANS LIKE THAT THEN IN LINES OF WHAT COULD BE, I, I FEEL LIKE PEOPLE ARE GONNA BE A LOT LESS WILLING TO VOTE YES ON STUFF LIKE THAT, ESPECIALLY WHEN THEY'RE HAVING TROUBLE PAYING THEIR BILLS RIGHT NOW.
UM, THEY'RE NOT GONNA SAY, LOST MY TRAIN OF THOUGHT.
THAT'S, THAT'S, THERE'S ANOTHER ISSUE THAT WE'RE, WE'RE KIND OF CIRCLING THIS.
HER BOND IONS ARE STILL BEING USED 2019.
I THINK THERE'S SO MANY LEFT THAT HAS NOT BEEN, BEEN COMPLETELY EXPENDED WHAT WE HAVEN'T DONE TO THE CITY.
AND I'M WONDERING IF THERE'S A WAY TO, TO DO THIS AS WELL AS THE VERY THING YOU'RE TALKING ABOUT.
'CAUSE THIS IS AN ECONOMIC DEVELOPMENT ISSUE, IS BEING ABLE TO SAY TO THE CITY AS A GOOD STEWARD OF THE FUNDS THAT WE WERE GIVEN, THIS IS WHERE WE ARE.
DID ANY, YOU KNOW, IF YOU KNEW, FOR EXAMPLE, THAT I, I'VE STILL GOT A GRASS AND AND GRAVEL ALLEY
WELL, IF I GET ANY NOTION WHEN THEY MIGHT IT BE HELPFUL BECAUSE THAT'S MONEY THAT IS THERE AND WAS, YOU KNOW, EARMARKED TO DO THAT.
AND, UH, I THINK WE OWE OUR CITIZENS SOME SENSE OF STEWARDSHIP.
YOU KNOW, YOU INVESTED US TO GET THIS DONE.
WE HAVE HAD THE, THE PARKS, EVERYTHING ELSE.
WE'RE GETTING GOOD REPORTS OF WHAT'S HAPPENING WITH US.
THE SAME THING'S GONNA BE TRUE.
BUT AS I SAID AT THE BEGINNING, IF WE CONTINUE TO REINVEST IN THOSE THINGS THAT WE KNOW ARE SUCCESSFUL AND MAKE SURE THAT THEY STAY UP FAR AND WE DON'T END UP WITH A LOT OF THESE FLY BY NIGHT THINGS THAT CAME IN, MADE A BIG SLICE, LASTED FOR ABOUT FIVE YEARS AND FIREWALLS, GOT A LITTLE BIT OF THAT TO IT, AND THEN IT'S, YOU KNOW, IT'S, IT'S GONNA TAKE A WHOLE LOT MORE TO GET IT BACK UP TO SPEED.
SO I JUST, THIS IS AN ECONOMIC DEVELOPMENT PROJECT.
THERE ARE OTHER FUNDING, OTHER THINGS CAN HAPPEN, BUT I DON'T WANT US TO GET LOST IN THE WEEDS LITERALLY OF TINY THINGS THAT WILL NOT MAKE THAT BIG A DIFFERENCE IN THE LONG RUN.
SO LET'S, I THINK GENTLEMEN WERE ASKING US TO REFOCUS.
ALRIGHT, WHAT ELSE? WE HAVE QUESTIONS IF WE WANT, I CAN TOUCH ON A COUPLE OF THESE AS AN EXAMPLE BECAUSE I THINK SOME OF THIS Y'ALL JUST GOT, THERE'S A LOT TO DIGEST HERE.
BUT IF YOU LOOK AT PAGE THREE FOR EXAMPLE, WHICH IS HARBOR POINT, THAT TOTAL $75 MILLION.
SO WHAT DOES THAT MAKE UP? WELL, THERE IS ABOUT 20 LAND PARCELS THAT ARE VERY
[01:15:01]
SPECIFIC THAT HAVESO THERE IS $10 MILLION WORTH OF LAND ASSEMBLY OPPORTUNITIES BUILT INTO THAT 75 MILLION.
THE SECOND BUCKET IS ALL DESTINATIONS AND AMENITIES.
THAT'S THE BOARDWALK OF 25 MILLION THAT MATT HAD TALKED ABOUT.
THE WAY FINDING MONUMENT, 2 MILLION DISTRICT SIGNS AND MONUMENTS, 5 MILLION.
THESE ARE SOME INCENTIVES THAT AS DEVELOPMENT COMES, COULD BE OFFERED TO, TO GET DONE.
UM, AND ALSO HAVING A $10 MILLION LAND ASSEMBLY BUCKET, UM, THAT COULD BE USED REALLY IN ANY OF THESE CATALYST AREAS.
BUT HARBOR POINT SPECIFICALLY THAT COULD BE AN INCENTIVE.
UM, THAT, THAT SOME, AND SOME OF THESE ARE, ARE THINGS THAT THE CITY COULD GO OUT AND DO SOONER RATHER THAN LATER.
OR THEY CAN SIT ON THE, THE BUCKET OF MONEY OR THAT PROGRAM AND WAIT FOR DEVELOPMENT WHEN DEVELOPMENT'S INTERESTED.
THEY HAVE SOMETHING TO PULL FROM AND OFFER THAT AS A SIMILAR.
SO THAT'S ANOTHER WAY OF THINKING ABOUT THE RETURN ON INVESTMENT.
THIS ISN'T $150 MILLION THE CITY WOULD NECESSARILY NEED TO GO SPEND AS SOON AS THE ELECTION PASSED IT, IT WOULD BE INCENTIVES THAT THEY WOULD HAVE AT THEIR, THAT THAT HAS DEVELOPMENT, WHICH WOULD COME AND, AND THAT, THAT'S TO, TO ANDY POINT, THE, THE, I DON'T WANNA SAY VAGUENESS, BUT IF YOU MAKE THE PROPOSITION SO SPECIFIC THAT IT IS ONLY FOR THESE PARCELS AND ONLY FOR THIS CATALYST AREA, THEN YOU REALLY CAN'T USE IT FOR ANYTHING ELSE.
AND THERE MIGHT BE A BIGGER PRIORITY IN THE MEDICAL DISTRICT, FOR EXAMPLE, AND YOUR MONEY WOULD BE A CUMBER BY THAT.
SO THE WIND, YEAH, THAT'S THE $20 MILLION FOR WIND BANK.
SO THAT, AND THAT'S JUST THAT I, THAT'S A, IF I REMEMBER THAT WAS JUST KIND OF A THOUGHT AND IDEA THAT THAT'S PART OF THE BROADER, PROBABLY SHOULD BE CAREFUL WITH THAT ONE.
'CAUSE THAT'S A VERY, THAT'S VERY COMPLICATED PIECE OF LAND ON THAT ONE.
THAT'S, THAT'S THE HARBOR POINT ALTOGETHER.
SO IT MIGHT BE THE BOARDWALK AND THEN SOME KIND OF IMPROVEMENTS IN THE, THE CATALYST THAT, BECAUSE THE EXTENSION OF ONE 90, THAT'S GONNA TRIGGER A LOT OF THINGS ANYWAY.
WE'RE GONNA NEED TO HAVE THAT SOME KIND OF EARMARK AVAILABLE, SO TO DEAL WITH THAT WHEN IT HAPPENS.
AND THEN I'LL TOUCH ON MEDICAL DISTRICT REAL QUICK.
AND THEN, UM, THAT 75 MILLION OR SO INCLUDES SOME, UH, 10 OR SO SPECIFIC PARCELS THAT ADD UP TO AROUND $10 MILLION.
UM, THE INFRASTRUCTURE ARE, ARE A COUPLE STREETS THAT ARE ABOUT $20 MILLION.
AND AGAIN, THOSE ARE STREETS THAT, THAT COULD BE DONE IN PARALLEL WITH DEVELOPMENT, NOT NECESSARILY DONE IN HOPES THAT THAT THINGS HAPPEN.
IT COULD, COULD BE THERE AVAILABLE, UH, TO, TO WITH THE DEVELOPER.
UM, AND THEN WE'VE GOT SOME, ABOUT $20 MILLION WORTH OF CORRIDORS AND GATEWAYS AND BEAUTIFICATION JUST TO CITY INFRASTRUCTURE IN THAT AREA.
AND THEN THE WELLNESS PARK IS ANOTHER 10 MILLION.
AND THEN THERE'S A, A COMMUNITY HOSPITAL RECRUITMENT, UH, $20 MILLION LINE ITEM THERE FOR THE GAP.
SO WOULD IT TONIGHT FOR, FOR THE TIME THAT'S AVAILABLE, DO WE DETERMINE, FEEL LIKE WE WANT TO GET FOR US SOME GENERAL GUIDANCE ON WHAT WE SHOULD BRING BACK, BUT WE'LL, WE'LL START TO BOIL THIS DOWN, BRING SOME MORE SPECIFICS, SOME MORE TANGIBLES.
DO WE JUST WANNA GET SOME KIND OF GENERAL FEEDBACK THAT SEEM APPROPRIATE GUYS TO YEAH, AND IF THERE ARE BE PERFECT, SOME SPECIFIC ONES, I'LL WRITE 'EM DOWN OR WHATEVER YOU HEARD THAT COULD BE FUNDED OTHERWISE, THEN THAT COULD TAKE THE 350 TO SOMETHING A LITTLE MORE CLOSER TO, TO ONE 50 TO PRIORITIZE WOULD BE ANOTHER CONSIDERATION.
I THINK IF YOU RANK PROJECTS IN THOSE BUCKETS ACCORDING TO, UH, WHAT GOES IN WHAT BUCKET, AND THEN YOU PRIORITIZE WITHIN THAT BUCKET, WE HAVE A WAY TO PRIORITIZE BETWEEN, BUT MORE IMPORTANT, THERE'LL BE THINGS THAT YOU, TO GO FIRST, UM, JUST LIKE 6 35, YOU HAVE TO REDO ALL THE INFRASTRUCTURE UNDERNEATH 6 35 OR THEY CAN DO 6 35.
BUT ANYWAY, UH, THOSE KINDS OF THINGS ARE KEY TO MAKING THE DECISION EASIER FOR, AND SO IT'S A VISIBILITY ISSUE.
[01:20:03]
THE DATA CENTER, THEY'RE DIFFERENT REGARDLESS OF WHETHER THEY'RE GOOD OR NOT.AND, AND WHAT MAKES AN ECONOMIC DEV ECONOMIC DEVELOPMENT BOND TRICKY IS THAT IT IS GREATER.
SO FOR EXAMPLE, IF YOU SAY A PRIORITY IS HARBOR POINT, RIGHT? WELL, IT'S LIKELY TO HAVE A LAND ASSEMBLY COMPONENT, INFRASTRUCTURE COMPONENT, AN INCENTIVE COMPONENT, WHICH MEANS IT, IT'S HARD TO THINK OF IT ONLY AS A LAND ASSEMBLY BUCKET OR ONLY AS AN INFRASTRUCTURE BUCKET.
IT MIGHT HELP US TO GO IN BROAD TERMS PROJECTS THAT SEEM TO BE THE HIGHER FOCUS AREAS.
AND THEN WE WOULD SAY, OKAY, IF HARBOR POINT'S AN ISSUE OR THE, OR THE MEDICAL DISTRICTS AN ISSUE, WE'VE ALREADY IDENTIFIED THE PARCELS THAT WOULD ULTIMATELY NEED TO BE ACQUIRED.
SO WHAT WE WOULD DO IS NARROW THAT DOWN AND GO, OKAY, HARBOR POINT, WE RECOMMEND $5 MILLION IN LAND ACQUISITION TO BLAH BLAH, BLAH, GO TO THE NEXT ONE.
AND THAT WAY YOU GET SOME ROUGH ORDER OF MAGNITUDE IF THAT'S WHAT I UNDERSTAND YOU SAYING.
THAT'S, THAT WAS DONE WITH GETTING THE DATA CENTERS HERE.
THAT WAS DONE BY WORKING WITH ALL THE LANDOWNER, RIGHT.
TWO STRAIGHT YEARS TO GET THEM TO AGREE ON WAY TO MERGE ALL THOSE PIECES OF LAND, 300 PLUS ACRES DEPOSIT.
SO SOMEONE WANTING 58 ACRES FROM THE DATA CENTER, THE 40 ACRES, TWO OF THEM DONE THAT ALREADY.
THEY DIDN'T HAVE TO BUY A SMALL PIECE HERE AND SMALL PIECE THERE.
EXACTLY 10 CONTRACTS WOULD RISK THE SUCCESS CONTRACT THAT WHOLE AMOUNT.
AND THE MONEY HAD ALREADY BEEN DISCUSSED HOW IT'S GONNA BE DISTRIBUTED TO THE OWNERS.
AND UH, THAT ENDED UP TOOK A WHILE TO DO, BUT IT ENDED UP WORKING QUITE SO LAND AVAILABLE AND PROXIMITY TO DALLAS THAT WE HAD HERE, WHICH IS GREAT ADVANTAGE THAT MADE IT REAL, REAL APPEALING TO DATA CENTER PEOPLE.
SO, UH, AND THAT WE'RE GONNA ALMOST DOUBLE OUR
SO ANYWAY, THAT WAS DONE VERY EFFECTIVELY AND UH, MADE IT, MADE IT EASY IF POSSIBLE TO EVEN DO THIS.
SO THAT'S A KEY ASPECT OF JUST WHAT WE'RE TRYING TO DO.
AND IF THE, YOU HAVE TO DO SOME MANIPULATING BETWEEN ALL THE LANDOWNERS, YOU WANT TO BE GREEDY.
THERE'S ALWAYS THE ONE THAT'S THE LAST ONE TO AGREE IF HE WANTS DOUBLE POSITION.
AND YOU HAVE TO, YOU HAVE TO DO SAY, NO, WE'RE NOT GOING TO DO THAT.
SO NOW THEY HAVE TO, THEY NEED TO FREE OUT.
WELL ANYWAYS, THAT'S A REAL, WELL, I KNOW THIS IS A LOT TO DIGEST, BUT JUST LAND ASSEMBLY FOR EXAMPLE, THAT 34 MILLION IS ABOUT 10 MILLION IN HARBOR POINT, 10 MILLION IN MEDICAL DISTRICT, 10 MILLION IN SOUTH GARLAND AND ANOTHER 4 MILLION IN DOWNTOWN.
AND THAT'S HOW THE THREE FOUR WAS COME UP.
THOSE WERE DONE WITHOUT, WITHOUT SPENDING THE MONEY TO BUY IT.
IT COULD BE DONE BY CREATING AGREEMENTS BETWEEN OWNERS TO CONSOLIDATE THEIR LAND AND IF THEY SELL ANY PART OF IT, THEY GET THEIR PERCENTAGE OF THAT WHOLE THING.
IT TURNS OUT TO BE A GOOD DEAL BECAUSE IF THEY SELL 10 ACRES FOR THIS ONE GOT PROPERTIES OVER HERE, HE'S GONNA GET SHARE OF EVERY SALE THAT BANKS WHEN THEY KNOW.
SO IT JUST COST THE CITY REQUIRED TO HAVE EVERYBODY MEET EVERY MONTH SO THAT THAT CAN BECOME PROBABLY
AND THEN RICKY, UM, I'D REALLY LIKE TO SEE PERSONALLY A FOCUS ON THE MEDICAL DISTRICT, UH, ESPECIALLY MAKING THAT APPEALING FOR A HOSPITAL BECAUSE I MEAN, I, I THINK EVERYBODY IN GARLAND AGREES WE NEED A HOSPITAL.
UM, I THINK THAT'S, I THINK THAT SHOULD BE ONE OF OUR HIGHEST PRIORITIES.
I THINK THAT AND RICKY, SO, UH, RICKY MCNEIL, UH, THE, THE ONE, UH, AND, UH, MATT, IF THIS PASSES IS IN MAY, WHAT WOULD BE THE NEXT AVAILABLE BOND YEAR THAT WE COULD, WE COULD SUBMIT TO THE VOTERS? FIVE SEVEN.
UH, THE INTENT OF THIS ONE IS FOR A BETWEEN FIVE
[01:25:01]
AND SEVEN YEARS DEPENDING ON, SO THIS WILL, THIS WILL BE MORE THAN LIKELY THE LAST ONE FOR ANOTHER FIVE TO SEVEN YEARS.AND THE REASON I WAS ASKING IS BECAUSE ABSOLUTELY, I THINK MARY KIND OF HIT IT A MOMENT AGO, IS THAT, YOU KNOW, WE, WE HAVE TO SET THE FOUNDATION AND I THINK THAT'S WHAT WE WERE ALL TALKING ABOUT HERE.
BUT THEN AGAIN, WE KNOW WE CAN'T DO EVERYTHING, HOWEVER, HOW WE POSITION OURSELVES FOR THE FUTURE BECAUSE WE CAN'T READ IT.
BUT THE SECOND PART OF THAT IS, IT'S LIKE ANY AGING COMMUNITY.
THE MAINTENANCE PART IS DEPENDING ON REVENUE COMING IN.
AND, AND I GET THE FACT THAT PEOPLE DON'T WANT TO DEFINE BEING NEW WHEN YOU HAVE THINGS FALLING APART.
BUT, BUT HOW ARE YOU GONNA GET SOMETHING NEW IF YOU DON'T HAVE THE GRID? RIGHT.
YOU KNOW, IT'S, IT'S JUST IN THE CIRCLE.
SO I THINK THAT'S THE OTHER PART THAT WE NEED TO KEEP IN MIND AS WELL IS, ARE IS THERE ANY PLANS FOR THE CITY TO HAVE A REGULAR BOND PROGRAM IN FIVE, SEVEN YEARS? BECAUSE AGAIN, IN ORDER TO RETAIN IT, FRISCO'S EASY, YOU KNOW, IT'S NEW, EVERYTHING'S NEW UP THERE, SO THAT STUFF'S NOT GONNA START FALLING APART IN 20 YEARS.
BUT
NOW IF I CAN ADDRESS THAT, BUT, SO WE'VE DONE A FACILITIES CONDITION ASSESSMENT ON ALL 200 PLUS OF OUR FACILITIES AND WE'VE SET ASIDE FUNDING THROUGH OUR CIP FOR THAT.
WE'VE ALSO GOT THE STREETS CONDITION INDEX, THAT'S GOING FORWARD.
MONDAY, WE HAVE A DRAINAGE STUDY THAT'S IN THE WORK, BUT WE'VE SET UP A FUNDING MECHANISM IN THE STORMWATER.
WE'RE REALLY TRYING TO TAKE THROUGH THE, THE CITY MANAGEMENT A LONG TERM LOOK AT OUR MAINTENANCE THAT SOMETIMES YOU GET HUNG UP ON.
YOU HAVE A FIVE YEAR CIP, WHAT'S IN THAT FIVE YEAR CIP IS WHAT WE DO.
OUR CIP MODEL IS REALLY 40 YEARS NOW.
WE WANNA KNOW WHEN DOES THIS FIRE STATION NEED TO BE REPLACED SO THAT WE CAN GO AHEAD AND PLUG IN THAT THAT COST 20 YEARS OUT TO MAKE SURE WHAT WE'RE DOING NOW DOESN'T HAMPER WHAT WE'RE GONNA DO IN THE FUTURE.
IF I COULD ADD TO THAT, JUST, JUST SO YOU'LL HAVE SOME COMFORT LEVEL HERE AS WE THINK ABOUT THESE THINGS ALL THE TIME, UM, OUR CITY MANAGER, JUDD REX, HAS GIVEN STAFF DIRECTION IN KIND OF A, IN A, IN A FEW SIMPLE WORDS.
AND THAT'S FINISH WHAT WE STARTED, WHICH BOND PROGRAMS TAKE CARE OF WHAT WE'VE GOT, WHICH IS ALL THE DIFFERENCE OF, OF THE BUCKETS OF MONEY THAT WE HAVE AT OUR DISPOSAL AND PLAN FOR THE FUTURE.
AND SO THAT, THAT'S WHAT WE TALK ABOUT AND FOCUS ON EVERY DAY.
SO I I'M GONNA BE PIGGYBACK, UH, PIGGY BACK MONDAY, EITHER ONE IS GONNA RING IN, IT'S GONNA DO THE, UH, THE, UH,
DOWNTOWN, RIGHT? SO I OR THE GRAND DEAL, ALL OF THOSE ARE GONNA BE THE R THE ROI, UM, THAT WE NEED THAT WE MIGHT NOT HAVE TO WAIT THE WHOLE FIVE YEARS FOR ANOTHER BOND.
WE MIGHT ACTUALLY GET ENOUGH MONEY FROM ALL OF THOSE, OR EITHER ONE OF THOSE, OR MAYBE TWO OR THREE OF THOSE TO GIVE US ENOUGH MONEY.
BUT WE DON'T EVEN HAVE TO WAIT IF THIS, BECAUSE THIS IS WHY WE'RE HERE, RIGHT? IS WE NEED MONEY COMING IN.
WELL, THAT IS WHERE THE MONEY IS AT.
IF WE NEED MONEY, THAT'S WHERE IT'S, AND SO I'M GONNA AGREE ON THE MEDICAL, ALRIGHT, I KEEP COMING BACK TO MATT'S DEAL, THE BIGGEST BANG FOR THE BUCK.
YOU GUYS NEED TO SHOW US WHERE WE CAN INVEST THIS $150 MILLION THAT WILL, IT'S KINDA LIKE RAISING CHICKEN OR CATTLE OR SOMETHING.
WE CAN'T START RAISING CALVES TO BUY A CAB.
WE'VE GOT A BOOK, A MAMA CATTLE GROUND PRODUCING CASH FROM A, FROM A FARMER STANDPOINT, WE NEED TO PUT PROJECTS IN THAT, LIKE THE, UH, CENTERS THAT TIM WAS TALKING ABOUT THAT ARE GONNA GENERATE MONEY TO DO SOME OF THESE THINGS THAT, THAT WE REALLY NEED.
BUT WE ARE GONNA GENERATE MONEY WITH THAT MONEY THAT WE SPEND.
THAT'S, THAT'S WHERE I WANT TO SEE MY THOUGHT IS PUT THIS MONEY IN, IN PRIME PLACES THAT IT WILL EXPLODE FROM A FINANCIAL STANDPOINT.
MATT AND I TALKED ABOUT, I, IT'S A, IT'S A MIND BALLING THING TO ME TO THINK THAT SOMEBODY AN AC OF LAND COULD CREATE $300 MILLION A YEAR REVENUE.
BUT SOME OF THESE THINGS YOU GUYS KNOW A LOT BETTER THAN WE DO THAT YOU CAN BRING TO US TO LOOK AT THAT, THAT IS GONNA CREATE THAT EXPLOSIVE RETURN ON ASSETS.
AND THAT'S WHAT WE'RE LOOKING FOR.
[01:30:02]
IT'S NOT A FIREWORK AHEAD REQUEST.I HAVE OF YOU ALL, AND I HAVE FOUND RESPECT FOR THE EXPERTISE AND KNOWLEDGE THAT YOU LEARNED THIS.
WE NEED TO HEAR FROM YOU FROM YOUR VANTAGE POINT WHERE YOU'RE LOOKING AT, YOU HAVE MORE ACCESS TO INFORMATION THAN ANY OF US ARE AROUND ON THIS TABLE.
AND I, I WOULD DO THE SAME THING ABOUT
WHAT WILL BE THE BEST RETURN ON INVESTMENT? WHAT DOES EXACTLY WHAT THE DEALER COMMISSION, HOW DO WE KEEP THE INVESTMENT WE'VE ALREADY MADE SOUND SOLID AND CONTINUING TO DRAW PEOPLE HERE WHERE THE AREAS LIKE THE HOSPITAL DISTRICT NOT ONLY WILL GENERATE PATIENT, RIGHT? WE'VE ALREADY GOT 47,000 VETERANS COMING HERE ANYWAY.
BUT WE ALSO NEED HOUSING FOR THE PEOPLE THAT HAVE BEEN WORKING THERE, NEED ALL PIECE SICKLY TOGETHER, GIVEN US A WIDE ARRAY OF THINGS TO LOOK AT.
SOME OF THEM HAVE A LOT OF FLAG FROM THEM, FOCUS OF THEM, REALLY SUPPORT WHAT'S ALREADY THERE AND CONTINUE TO CREATE THE CITY THAT WE KNOW AND WILL BE GOING FORWARD.
AND IF YOU CAN COME BACK TO US WITH YOUR BEST JUDGMENT OF WHAT MAKES SENSE RIGHT NOW, GIVEN THAT EVERYTHING WE, WE TALKED ABOUT A S THING THERE, STUFF THAT WE'RE NOT EVEN TALKING ABOUT, THAT WE'RE ALL THINKING ABOUT.
SO I WOULD ASK THAT OF YOU BECAUSE YOU'RE HERE FOR A REASON AND WE ARE, AND WE'RE HERE TO PUT AN ECONOMIC BONE PACKAGE TOGETHER AND YOU NEED TO HELP US KNOW WHAT'S GONNA BE THE BEST BANG FOR THE BUCK.
UH, BOB, UH, I BEGAN TO TALK IN THE LAST MEETING ABOUT, ABOUT A PIECE OF LAND BRANDS AND PUSH OUT THERE THAT I, I THINK IN MY MIND IS ONE OF THE EST INVEST $8 MILLION OR SOMETHING AND IT TURNED INTO THREE 50 MILLION WITH THE RIGHT INVESTOR THERE BUILDING THE RIGHT PROJECT.
SO THOSE ARE THE KIND OF PROJECTS THAT IN MY MIND THAT WE'RE LOOKING FOR TO HELP US TO FIX OTHER THINGS THAT NEED TO BE FIXED, BUT THEN CAN WAIT A WHILE.
YOU GOTTA GENERATE AN INCOME TO DO THE WORK WITH TONY'S NEXT TO THE JOB ME DISTRICT.
A ONE OTHER FACTOR THAT WE NEED, WE NEED TO REALLY CONSIDER THIS IS THE AROUND, SINCE I'VE BEEN HERE FROM 72, THE IMAGE, THE IMAGE OF ART.
SO WE CAN IDENTIFY ONE OR TWO PROJECTS THAT WILL STAND OUT AS PEOPLE SAYING
AND ONE OF THEM IS GOING TO BE THE VA HOSPITAL RIGHT NOW.
THEY'RE UP TO START EVENTUALLY 10 YEARS FROM NOW WHEN WE'RE TAKING CARE OF MOST OF NORTHEAST TEXAS.
THE NUMBERS ARE GONNA BE HUGE AND IT'S GONNA BE VERY SIGNIFICANT PART OF THE GARLAND.
SO AGAIN, IT, IT IS A MATTER OF WHAT IT'S GOING TO IMPROVE THE IMAGE, UH, AND HOSPITAL, VA HOSPITAL THAT WILL BE IMPORTANT.
IT'S IMPORTANT NOW IT WOULD BE IMPORTANT 10 YEARS FROM NOW, 20 YEARS FROM NOW.
UH, AND IF WE CAN HOOK UP TO THE HOSPITAL ALSO FOR THE COMMUNITY, THIS WILL BE A BIG FACTOR.
SO AGAIN, BETTER WORKING WITH WHAT WE HAVE RATHER THAN TRYING TO BE SOMETHING THAT WE DON'T HAVE RIGHT NOW AND, UH, CHANGE.
THEY'RE GONNA CHANGE ANYTHING.
THEY'RE GOING CHANGE THE NEEDLE.
WE CHASING, UH, FRISCO OR WE CHANGE.
WHY ARE WE CHANGING? IF WE CAN BUILD, WE CAN PROVE WHAT WE HAVE NOW THAT'S, THAT'S WORKING.
I SAY I MAKE ALL THESE OBSERVATIONS KNOWING WELL ONCE THIS GOES TO THE COUNCIL AND THEY GET INTO EXECUTIVE SESSION TO MR, THAT'S WHERE THE SPONSORS GONNA GET MADE.
HEY, UH, JUST CLARIFYING QUESTION.
WERE WE JUST FLIRTING WITH THE IDEA OF A BOUTIQUE HOTEL HERE IN THE DOWNTOWN AREA? OR IS THAT AN ACTUAL THING OF IN YOUR SO I THINK THAT IS A BULLET.
UH, SO IT IS AN ACTIVE PURSUIT.
UM, AND SO, AND I, I ALWAYS COME BACK TO TALK ABOUT THE DOWNTOWN AS A PERFECT MICROCOSM.
WHAT WE'RE TRYING TO DO WITH THE LIST OF THE CATALYST AREAS, REGARDLESS OF THE DOLLAR AMOUNT, WE'D LIKE TO INDICATE THIS, THAT WE KNOW IT WORKS.
THAT'S PLACE MAKING YOU, YOU BUILD SOMETHING THAT ATTRACTS PEOPLE AND RETAINS THEM, THE MONEY FOLLOWS.
SO WHEN, WHEN WE'RE TALKING ABOUT THE NEXT STEP OF WHAT WOULD BE FOR DOWNTOWN, THAT RF, THAT UH, RFQ
[01:35:01]
THAT WE PUT OUT FOR THE FOUR OR FIVE PROPERTIES WE PRESENTED ON THAT, THAT WE OWN, WE, WE THINK WE'RE GONNA SEE SOME OF THE PRIVATE DEVELOPERS RECOMMEND THAT BE AN IDEA.UM, AND SO IT'S AN ACTIVE IDEA THAT WE WOULD LOVE TO SEE HAPPEN.
THERE'S SOME PARAMETERS THAT HAVE TO, YOU KNOW, THAT IT IS GONNA HAVE TO CHECK THE INVESTORS' BOX TO MAKE SURE THAT IT CAN CANCEL OUT FOR THEM.
BUT, BUT THAT'S A REALLY ADDITION TO SOMETHING LIKE THIS.
'CAUSE NOW THAT WE'VE TRACKED THEM, NOW WE WANT 'EM TO STAY.
UM, IS THERE A LOCATION THEY'RE LOOKING AT? IS THAT, THAT, UH, STRIP ALONG THE STATE THEY WERE LOOKING WHERE WE WERE TALKING ABOUT POSSIBLE MULTIFAMILY.
YEAH, WE'LL, WE'LL SEE WHAT THE, WHAT THEY COME BACK WITH.
'CAUSE SOME SITES ARE MORE, UM, SUITABLE THAN OTHERS.
LIKE FOR EXAMPLE, THE FURTHER OFF THE SQUARE PROPER YOU GET THE LESS DESIRABLE IT IS, RIGHT? BUT THE, IF IT'S TOO SMALL OF A PARCEL, IT'S ALSO NOT A VIABLE.
SO THAT'S WHAT WE'RE GONNA LIKELY SEE IN THAT KIND OF SCENARIO.
UM, AND SO NOW WHEN WE LOOK AT THOSE, THEY'RE COMING TO THE TABLE WITH AN IDEA, WITH THE EXPECTATION.
THE CITY'S GONNA PROVIDE SOME KIND OF INCENTIVE.
THOSE ARE NEGOTIATING CASE BY CASE ALL DAY LONG.
I WAS THINKING ALL SPECULATION, AND I'LL COME DOWN TO THE, THE COST OF ACTUALLY DOING THAT SORT OF LOGISTICS OBVIOUSLY, BUT UH, PUTTING IT ALONG ABOUT THE STATION.
I MEAN, A LOT OF MY FRIENDS WHO COME TO VISIT ME FROM MY COLLEGE OF DAY, I WHO LIVE IN OTHER PARTS OF THE STATE, ARE THERE PARTS OF, UM, US NOW, THEY'LL COME HERE AND THEY'LL STAY WITH ME OR THEY'LL STAY IN THE CARBON AREA AND USE IT AS KIND OF A JUMPING OFF POINT TO SEE DALLAS, RIGHT.
HAVING IT BY THE STATION IS, OH, I CAN STAY HERE IN GARLAND AND I CAN ALSO, UH, MAYBE THEY'RE PLANNING ON GOING TO DALLAS, BUT THEY NOTICED, WOW, IT'S RIGHT BY THIS DOWNTOWN AREA.
THAT'S KIND OF HOW I DISCOVERED IT WAS, UH, WAS HANGING OUT IN THE DOWNTOWN AREA AND I JUST LIKED IT.
SO THAT'S WHY I MOVED OUT HERE.
AS A MATTER OF FACT, AS YOU RECALL, WE'VE GOT THESE ILAS, WE, OUR LOCAL AGREEMENTS WITH DART.
UM, WE, WE HAVEN'T INITIATED THE CONVERSATION RELATED TO THE ONE THAT THEY, YOU KNOW, WHERE THEIR BUSES ARE IN THEIR PARKING AREA DIRECTLY ACROSS FROM THE TRAIN STATION.
THEY HAVE OFFERED THAT UP FOR DISCUSSION.
AND SO THAT'S, THAT'D BE A PRETTY SLICK PLACE TO PUT SOMETHING LIKE THAT.
WE HAD HALF OF THAT DARK PARKING LOT.
UH, I THINK IT'S, I WANNA SAY IT'S LIKE FOUR ACRES.
OT DOESN'T, YOU'RE NOT TALKING MEGA RESORT.
YEAH, IT'S USUALLY 50 TO 70 ROOMS. 40 TO 70 ROOMS, SOMETHING LIKE THAT.
SO YEAH, FOUR OR FIVE STORIES.
10 STORIES PROBABLY PROBABLY FIVE, SIX, SOMETHING LIKE THAT.
AND THAT, THAT EXAMPLE'S PERFECT OF LIKE WHAT SHOWS SPREAD OF ECONOMIC IMPACT.
BECAUSE WHEN YOU HAVE A BOUTIQUE HOTEL DOWNTOWN, YES YOUR FRIENDS FROM COLLEGE CAN COME DOWN, BUT WE ALSO HAVE THIS ART CENTER HERE THAT OPENS UP MULTIPLE THINGS FOR EM.
NOW THERE'S A PLACE FOR SOMEONE TO STAY OVERNIGHT TO GO TO SOMETHING THERE.
SO THAT THOSE TYPES OF EXAMPLES, WHAT ARE EXACTLY ARE ON THE RIGHT TRACK, IT SPREADS OUT TO OTHER PARTS OF THE COMMUNITY.
DOES THIS A DEVELOPER, WOULDN'T YOU BE INTERESTED IN DOING IT IF WE HAD TO JUST INVEST IN WHAT WE DID RIGHT HERE? OR THE GRANDVILLE WOULDN'T, I MEAN YOU TAKE ANY ONE OF THOSE THINGS AWAY, THEY'RE LIKE, I'M GONNA BUILD A HOTEL THERE.
UM, I WHAT TONY WAS SAYING, I I DO WANT FOCUS ON US NOT TRYING TO BE, WELL WE'RE NOT, WE'RE NOT FRISCO, WE'RE NOT
I I DIDN'T WANNA MOVE TO THOSE CITY.
I MEAN, GRANTED, I COULDN'T AFFORD TO ANYWAYS, BUT IF I COULD, I STILL LIKE THERE'S CHARACTER HERE AND THAT'S WHAT I LIKE.
UH, THERE WERE OTHER PLACES THAT WE LOOKED AT, BUT THIS IS WHAT WE LIKED.
AND SO THERE'S, I THINK WE NEED TO LOOK AT MAINTAINING OUR IDENTITY AND WE CAN SCOE IT UP.
BUT, UH, I DO LIKE THE IDEA OF THE GATEWAYS AND BRANDING, UM, AND KIND OF LIKE OWNING OUR BETH COULD AGREE WITH YOU MORE.
ALL THE INPUT WE GET FROM THE PUBLIC, EVERYBODY, WE FEEL THAT SAME WAY.
WE, WE DO NOT WANNA COPY WHO OUR, WHAT OUR NEIGHBORS ARE.
WE JUST KNOW THAT, YOU KNOW, WE CAN'T CONTINUE TO NOT INVEST IN THE FUTURE.
AND IT'S GONNA BE VERY MUCH A GARLAND THING.
HEY GARLAND VIBE IF I MIGHT SAY.
I FEEL LIKE POINT IS KIND OF A GOOD
WE'RE ALSO STILL A LITTLE BIT OF COVERAGE.
SO ADDING ON WITHOUT REMOVING WHEN WE ALREADY HAVE AND THAT'S THE IMAGE FOR THOSE THAT ARE DRIVING THROUGH.
STRATEGICALLY LOCATED ON A ROAD THAT'S ABOUT TO BE DONE.
HIGHLY VALUABLE, MORE COMING IN EVERY DAY AND THERE'S NOTHING TO DO.
ALL OF OUR REVENUE THAT WE COULD, IT'S GOING TO BALANCE BECAUSE
[01:40:01]
WE HAVE NOTHING YOU TO DO.AND IT'S MORE USED NOW THAN THEY, I MEAN THEN I SEE MORE THAN NOW THE OLDER GIRL IS GROWING UP.
IT IS DEFINITELY GROWING UP AND THE YOUTH ARE FEMININE.
SO WHAT IS NEXT? AND AND IF WE DON'T DO ANYTHING TO CHANGE WITH THE TIME, THEN WHERE'S NOT GOING BE? WHAT'S THE OLDER CROWD GOES JAIL BECAUSE THE I DON SIT AROUND ALL DAY AND THAT WE GOTTA HAVE SOMETHING, WE GOT A CHANGE ELSE.
AS, AS FAR AS HARBOR POINT, HOW WE LOOKED AT HOW MUCH, HOW MUCH INPUT DO WE REALLY NEED FROM THE CITY THERE? 'CAUSE THAT SEEMS LIKE THE KIND OF PLACE WHERE DEVELOPMENT'S GOING TO HAPPEN.
LIKE THAT SEEMS LIKE A REALLY GOOD, LIKE HOW MUCH DOES IT REALLY NEED FROM US? IT'S A GOOD QUESTION AND I DON'T KNOW THAT WE KNOW THE ANSWER TO THAT, BUT I WOULD SAY IT'S NOT ZERO SURE.
AND THAT'S, THIS IS OUR, MY EXPERIENCE AS WE TALK TO DEVELOPERS, THE MORE THEY SEE THE COMMITMENT FROM A A CITY INVESTING IN AN AREA, THE MORE INTERESTED THEY ARE.
AND, AND YOU CAN IMAGINE, YOU KNOW, NOBODY WANTS TO HEAR THIS, BUT YOU KNOW, DEVELOPERS DON'T HAVE ENDLESS MONEY EITHER.
THEY, THEY, THEY ARE IN BUSINESS TO MAKE MONEY.
SO THAT'S WHY THEY ARE ALWAYS ASKING FOR A GAP FINANCE INCENTIVE TO CLOSE THE GAP IN SOME WAY.
SO IF WE DON'T, AGAIN, KICK THAT FIRST DOMINO OVER, LIKE, YOU KNOW, I, I'M JUST THROWING IT OUT, I, THE IDEA OF A BOARDWALK THAT SHOWS THAT WE BUILT AN ATTRACTION THAT THEY NOW CAN TAKE ADVANTAGE OF, BUT MAYBE THEY DIDN'T EVEN ENVISION SOME OF THOSE PARCEL ACQUISITIONS ARE GONNA BE HUGE 'CAUSE THEY'VE GOT MULTIFAMILY ON 'EM.
SO THAT'S WHERE THE LAND ASSEMBLY IS PROBABLY A SUPER KEY COMPONENT.
THAT'S WHAT'S WORKING WELL DOWN SOUTH 6 35.
WE'RE STILL MOVING ON, BUT NOW WE'RE ASSEMBLING A MEANINGFUL CHUNK THAT A DEVELOPER CAN, CAN DO SOMETHING WITH.
AND KEEP IN MIND, A LOT OF TIMES THE INCENTIVE MIGHT BE WE BOUGHT THE LAND, WE'VE ASSEMBLED IT, HERE IT IS, DEVELOP IT.
AND WE MAY HONESTLY, IT MAY BE GIVEN AWAY AS AN INCENTIVE BECAUSE THE RETURN ON INVESTMENT IS IN A CERTAIN AMOUNT OF TIME.
IF WE TRY TO CALCULATE THAT ROI AND RETURN IN THAT THREE TO 10 YEAR WINDOW, WHETHER IT'S A TAX ABATEMENT OR PROPERTY DEDICATION OR WHATEVER, WE DON'T JUST GIVE IT AWAY WITHOUT SOMETHING IN RETURN.
BUT IT WOULD, I GUARANTEE IT WOULD NOT HAPPEN IF WE DID NOT HAVE THE LAND THAT SAYS START HERE AND BUILD, BUILD OUT.
IS THERE A WAY TO LOOK AT HISTORICALLY, UM, AND, AND I KNOW I OBVIOUSLY THAT'S BE
SO THAT'S WHY NO, YES WE COULD.
UM, BUT, AND THERE ARE SOME, AGAIN, DOWNTOWN IS A GREAT EXAMPLE.
WE REQUIRING LAND IN A LOT OF, IN A LOT OF PLACES.
IT DOES, YOU KNOW, A LOT OF IT'S BEEN RECENT SO IT HASN'T FULLY COME TO FRUITION.
BUT IN A LOT OF CASES, MATT, YOU'VE BEEN HERE LONGER THAN ME.
YOU COULD PROBABLY THINK OF SOME.
BUT THAT, THAT WE, WE ARE VERY STRATEGIC WHEN WE START BOTHERING WITH THOSE TYPES OF ACQUISITIONS.
WHEN YOU THINK OF WHAT A DEVELOPER'S WILLING TO PAY FOR, IF IT'S NOT GENERATING THE MONEY, IT'S HARD FOR THEM TO PAY FOR.
SO IF YOU LOOK, I MEAN YOU MENTIONED HARBOR POINT, YOU LOOK AT ROCKWALL, THEY HAD TO BREAK DOWN BARRIERS FOR THOSE THAT THAT DEVELOPMENT TO HAPPEN.
ETTE HAD TO BREAK DOWN MASSIVE BARRIERS FOR THAT DEVELOPMENT TO HAPPEN.
THERE'S GOING TO HAVE TO BE BARRIERS BROKEN DOWN BECAUSE THEY, THEY ARE NOT GOING TO BE WILLING TO COME.
COME AND SAY, I'LL BUILD A BOARDWALK.
I CAN'T MAKE ANY MONEY OFF THAT.
THEY, THEY HAVE TO HAVE THEIR OWN ROIS AND IT'S ALL STRICTLY PROFIT.
SO BREAKING DOWN BARRIERS TO GET PEOPLE TO COME HERE IS WHAT THIS IS REALLY ALL ABOUT HARBOR POINT IN MY MIND.
SO IT DOES SOUND LIKE ASSEMBLY SHOULD BE KIND OF A HIGH PRIORITY THEN YOUR, AND I'LL GIVE YOU THE ROCK WALL EXAMPLE WHERE THE HARBOR IS OVER THERE ALL NOW, THE MULTI-FAMILY, THAT WAS SO MANY YEARS OF THE WORK, THAT TINY LITTLE STRETCH OF LAND, RIGHT? THERE WAS NO LESS THAN 60 PARCELS.
AND SOME OF THOSE PARCELS WERE SMALLER THAN THIS ROAD.
AND IT TOOK SOMEBODY TO, TO ASSEMBLE ALL OF THOSE.
AND JUST MY LAST THOUGHT, ILL LET, SORRY,
YEAH, I DON'T KNOW THE STATUS OF THAT ONE.
UH, IT'S, I MEAN AS FAR AS I CAN TELL IT'S LIKE FROZEN.
BUT UM, IT WOULD, I I'VE HEARD FROM CITIZENS THAT THEY WERE SOLD THIS GREAT IMAGE AND THEN IT'S NOT TURNING INTO THAT.
AND THAT'S THE DOUBLE-EDGED SWORD THAT WE'RE TASKED WITH RIGHT NOW.
I MEAN WE CANNOT GO OUT AND SAY WE'RE GOING TO BUILD WHATEVER BLUE LAGOON OR WHATEVER.
'CAUSE WE DO NOT KNOW IF THAT'S GONNA OCCUR.
BUT WHAT WE KNOW WE CAN DO IS WE HAVE THIS
[01:45:01]
ABILITY TO LOOK AT THIS LAND.WE HAVE MASTER PLANS, WE WALKS, INFRASTRUCTURE.
THOSE THINGS WE DO, WE CAN DO.
AND WHAT IT BRINGS EXACTLY FERRIS WHEELS, WHATEVER WE DON'T HAVE.
MY QUESTION WAS ABOUT THE BOARDWALK.
DO YOU HAVE NUMBERS OF WHAT CATTLE LOANS WOULD COST? WE DO.
AND WHEN YOU'RE TALKING ABOUT THE BOARDWALK, ARE YOU TALKING BUILDING IT OUT OVER THE WATER AND EXAMPLES OR YEP.
WHAT CAN YOU TELL US SPECIFIC ALL THAT? SO WHEN WE, WE APPLIED FOR A, A FEDERAL GRANT, UM, AND THE ESTIMATE WE HAD WAS 25 MILLION AND IT WENT FROM ABOUT FAST PRO ALL THE WAY AROUND UNDERNEATH NINE 30 AND STOPPED AT JOHN PAUL JONES.
NOW THAT'S YESTERDAY'S DOLLAR, SO WE'D HAVE TO RAMP THAT UP AND, AND IT, AND, AND I WOULD LOVE TO SEE IT EVENTUALLY GET DOWN TO WINDSURF BAY.
SO THE BEST EXAMPLE, IF YOU'VE EVER TO AUSTIN AND YOU GO TO LADY BIRD, I THINK THEY CHANGED THE NAME OF THE LAKE.
UH, TOWN LAKE IS NOW LADY BIRD JOHNSON LAKE.
WELL THAT, THAT BOARD HAVE, YOU'VE BEEN ON THAT BOARDWALK.
THAT'S WHAT WE'RE TALKING ABOUT.
IT'S, YOU KNOW, TRAIL OVER THE WATER TRAIL BACK IN THE WOODS, THAT KIND OF THING.
AND, AND IT AFFECTS PEOPLE ALL DAY LONG.
I USED TO LIVE IN THAT AREA MANY, MANY YEARS AGO.
I DIDN'T EVEN RECOGNIZE IT BECAUSE THE MULTIFAMILY IS LIKE EVERYWHERE.
UM, I HAVE A QUESTION FOR STEP.
UM, SO IN THE NETWORK TO TRY TO ATTRACT DEVELOPERS AND COME IN AND INVEST IS LAND ASSEMBLY, ONE OF THE BETTER OPTIONS OR IS, IS ADMITTED TO PROVIDE INFRASTRUCTURE ASSISTANCE? IT'S BASED BY CASE AND IT'S, IT'S BASED ON THE LAND.
UM, IF, IF, IF THE LAND ASSEMBLY IS, IS A COMPONENT, YES IT'S IMPORTANT BUT MAYBE IT'S MAYBE SAY THE, THE SEWER CAPACITY IS VERY RESTRICTED.
UM, BECAUSE WHAT HAPPENS IS, IS WHEN YOU BUILD OUT YOUR, YOUR CITY INFRASTRUCTURE, IT'S BASED ON THE LAND USE ASSUMPTIONS AT THAT TIME.
SO IF THIS PART OF LAND, THE TOWN WAS GONNA BE MOSTLY SINGLE FAMILY, UH, PATCHED AND NOW WE'RE REZONING IT TO BE MORE DENSITY, IT'S VERY LIKELY THAT THE WATER AND THE SEWER AREN'T GONNA MATCH.
SO IT COULD BE A SMALL UPGRADE THAT THEY COULD ABSORB IN THEIR PROJECT.
IT MIGHT BE SOMETHING WE HAVE TO PARTICIPATE 2, 3, 4, 5 MILLION TO UPSIZE, STORM SEWER, SANITARY SEWER AND WATER.
SO IT'S VERY CASE BY CASE THAT THE INFRASTRUCTURE I THINK IS, WE HAVE OTHER WAYS TO ADDRESS THAT BECAUSE IT DOESN'T TEND TO BE AS EXPENSIVE AS LAND ASSEMBLY.
I WOULD SAY TO YOUR POINT, THE LAND ASSEMBLY IS KIND OF A KIND OF A BIG DEAL THAT WE STRUGGLE WITH.
'CAUSE WE DON'T HAVE CASH, WE CAN'T ANTICIPATE IN LAND ASSEMBLY.
WE'VE GOT OTHER TOOLS IN OTHER WAYS FOR THAT.
AND LAND ASSEMBLY BREAKING ON, THERE ARE NO OTHER ALTERNATIVES, CORRECT? THAT'S CORRECT.
THAT'S WHAT, THAT'S WHAT I WANT ADDRESS HERE.
YOU'LL SPREAD YOUR CHART OUT HERE AND LOOK AT THE FUNDING SOURCES.
LOOK AT THE ONES THAT JUST SAY NONE.
THERE IS NO OTHER OPTION, BUT THAT'S A GOOD RAN CARGO POINT.
IF YOU'RE A DEVELOPER, ARE YOU GONNA WANT TO COME HERE AND TRY TO ASSEMBLE THOSE 15 YOURSELF OR WOULD YOU LIKE TO COME HERE WITH THOSE 15 ALREADY TOGETHER READY TO GO? AND THAT'S THE PIECE WE CAN DO IS HAND IN THIS BIG PIECE OF LAND READY TO GO.
AND THERE'S NO OTHER WAY FOR THAT TO GET TOGETHER.
CAN'T, THERE'S NO TIFF, THERE'S NO COS WE CAN DO.
SO I'M LOOKING AT ALL THE STUFF THAT HAS NO OTHER FUNDING AS, OKAY, WELL THAT'S THE STUFF WE SHOULD THINK ABOUT DOING FIRST AND THAT'S, WELL, WAY LESS THAN HUNDRED 50 MILLION AND WHAT ELSE WE DO THEN KIND OF, UH, IT'S KIND WHAT WE OF ALL, WE DECIDE BETTER PRIORITIES, BUT THE STUFF WITH NO OTHER FUNDING IS A WAY FOR US TO REALLY INVEST IN THE CITY BECAUSE THAT'S, IT'S THE ONLY WAY IT'S GONNA HAPPEN.
SO YOU'VE GOT A BUNCH OF THAT HARBOR POINT, YOU'VE GOT THAT BUNCH OF THAT MEDICAL DISTRICT AND THEN, UH, OF COURSE IN DOWNTOWN AND SO I, THERE'S REALLY BIG PATCHES AND THEN, THEN A COUPLE ARE FAMOUS THAT'S NOT, AND COMMUNITY HOSPITAL SYSTEM IS NONE.
AND SO I THINK IF WE LOOK AT THOSE, UH, UH, KIND OF AS, THERE'S NO OTHER WAY TO FUND THOSE GUYS.
THIS IS, THIS IS OUR OWN, WE DON'T, WE DON'T BITE THE APPLE THIS TIME, FIVE YEARS DOWN THE ROAD BEFORE WE CAN THINK ABOUT 'EM AGAIN.
SO I WANT TO LOOK AT SPREAD THOSE OTHER SHEETS OUT TO SEE, OKAY, SOME OF THIS, THERE'S OTHER, THERE'S OTHER MONEY THAT WE CAN DO SOME OF THIS OTHER STUFF WITH.
BUT LAND ASSEMBLY NOT, NOT AT ALL.
SO THAT, I THINK THAT'S GOTTA BE PRETTY HIGH ON OUR PRIORITY LIST IF WE'RE GONNA DO, IF WE'RE GONNA DO THIS.
I THINK THAT WAS BROUGHT UP AT ONE OF THE EARLIER MEETINGS, THIS LONG LIST.
IT'S A SIGNIFICANT BARRIER FOR DEVELOPERS THAT THIS BARRIER,
[01:50:01]
THEY DON'T HAVE THAT FOR SCOPE FOR EXAMPLE, THIS IS A, A BARRIER WHERE IT'S, IT'S A CHALLENGE AND LIKE THE SAPPHIRE RATE, IT, IT WOULD NOT HAVE HAPPENED AT ETTE, NOT BOUGHT THAT PART FROM DALLAS, WHICH THEY HAD TO HAVE PUT A REFERENDUM TO BE ALLOWED TO DISPOSE OF.THEY JUST HAPPENED TO BE ONE BIG CHUNK RATHER THAN MULTIPLE LAND ASSEMBLIES.
BUT IT WAS MILLIONS OF DOLLARS WORTH THAT THEY GAVE THEM.
LAST THING, UH, SOME OF YOU MAY, MAY, MAY, MAY BE AWARE LAST SATURDAY AND SOME EVENT OVER DALLAS, OVER THE
SO WE NEED TO BE CONSIDERING HOW DO WE GET THAT MONEY? AND I THINK SURROUND MAY ON THE FLOOR BECAUSE ONCE THAT TARGET AUDIENCE, BUT PART OF THIS HAS TO BE THAT TONY, I DEFINITELY RESPECT THE POINT EARLIER ABOUT THE FACT THAT CAN WE SUSTAIN THESE THINGS, BUT WE KNOW THAT'S NOT GOING ANYWHERE.
SO I, I KNOW JERRY BRINGS ARKANSAS AND A AND M UP FOR GAMES AS WELL.
SO HOW DO WE TACKLE THAT? WHAT ARE WE GONNA DO TO POSITION ALL THEM TO GET THOSE DOLLARS, RIGHT? BECAUSE AGAIN, THEY'RE COMING, MOST OF 'EM ARE COMING FOR TWO OR THREE NIGHTS.
SO THOSE ARE THE THOUGHTS THAT I'M THINKING ABOUT IS HOW DO WE GET THOSE DOLLARS FROM OUT OF TOWN EXCELLENT POINTS TO THE, TO THAT POINT, UH, WITH THE PEOPLE WORLD CUP COMING SOON.
UH, DALLAS SPORTS COMMISSION'S ALREADY REACHED OUT TO US, EVEN THOUGH WE DON'T HAVE A TON OF HOTELS, THEY'VE ALREADY REACHED THIS FAR OUT, DOWN THE HIGHWAYS TRYING TO GET, MAKING COMMITMENTS.
UM, CAN I GET CLARIFICATION ON THE, UH, $20 MILLION FOR COMMUNITY HOSPITAL RECRUITMENT? IS THAT $20 MILLION THAT IS BASED OFF EXACTLY.
IT'S A, IT'S AN AS, IT'S AN ASSUMPTION AT THIS POINT IN THAT WE WOULD BRING A SMALL COMMUNITY HOSPITAL THAT WITH ROOM TO EXPAND LONG TERM, UH, THAT, THAT SMALL HOSPITAL, WE'VE HAD FEASIBILITY STUDIES DONE ROUGHLY 60 MILLION.
SO WHAT YOU'RE, WHAT WE HAVE TYPICALLY SEEN WHEN IT COMES TO HOSPITAL, THE CAPS ABOUT 30%.
SO THAT'S WHERE THAT NUMBER'S COMING FROM.
OH, SO THAT'S IS THAT THE LAND ACQUISITION COST OR THAT WOULD BE THE COST OF THE CONSTRUCTION CONSTRUCTION GAP.
WE WE HAVE LAND IN THAT'S BASICALLY GETTING THEM TO COME HERE, RIGHT? THAT YEAH.
WITH US CHIPPING IN TO ASSIST WITH THE CONSTRUCTION.
THE MATT'S ALREADY DONE THE RESEARCH ON THAT.
AND SO OUR STUDY THAT WE DONE, WE DID A FEW YEARS AGO, KIND RECOMMENDED A ROUGH NUMBER OF ROOMS THAT OUR COMMUNITY COULD SUPPORT.
AND SO THAT WOULD BE, THAT WOULD BE PRETTY IMPORTANT TO MAKING IT HAPPEN.
IT'S REAL, REAL MONEY, REAL ACTION.
UM, AND TALKING ABOUT ALL THESE OTHER EVENTS, ESPECIALLY FROM DALLAS, UM, I, WE COULD EVEN LOOK AT UM, YOU TALKING ABOUT HOTELS AND BRINGING IN PEOPLE FROM OTHER CITIES AND WE'VE GOT LAND ON 30 AND LAND ON 6 35 AND I THINK WE NEED TO GET HOTEL THERE.
UM, FOR THE, THAT ON 30 AT HARBOR IT DOES GROW.
I SAY WHEN IT GROWS HOTEL TOWN, THAT IS THE PERFECT DESTINATION TO BE 0.3 WITHOUT HAVING TOO FAR AND TAKE UBER.
IT'S LIKE EVERYTHING IS UP, EVERYTHING IS
EVERYBODY FROM THAT ARKANSAS GAME'S GOTTA DRIVE RIGHT BUD.
THE, THE OKLAHOMA PEOPLE, THE ENTIRE FREAKING WIND STAR.
HOW CAN WE GET THAT? THAT'S WHAT WE WANT.
WHAT WHAT ELSE CAN WE TAKE BACK AND, AND ON I'M MAKING NOTES AND I GOT ONE QUESTION FOR THE GROUP.
THE 150 MILLION, IS THERE ANY INTEREST TO EXPLORE ABOVE AND BEYOND THAT? SO WHEN WE, I'VE HEARD COME BACK WITH BEGGING FOR THE BUCK AND THEN AND UH, WE CAN DO THAT, BUT WE'RE GONNA PRIORITIZE INTO THAT 150 BECAUSE REMEMBER THE 150 IS WHAT'S AVAILABLE WITHOUT A TAX INCREASE.
WE'RE JUST ASKING FOR PERMISSION TO USE FUNERAL OBLIGATION BONDS, WHICH ARE THE CHEAPEST MONIES WE CAN BORROW RIGHT NOW.
BUT ANYTHING BUT YOU COULD RECOMMEND SOMETHING OVER OVER THAT IF YOU RECOGNIZE AND RECOMMEND THE TAX INCREASE.
[01:55:01]
CAN YOU DO A TWO TIER, TWO TIERED BOND? IF THAT'S DEBT, IT'S IF IT'S ON THAT SIDE OF THE LEDGER, THAT'S DEBT.MEANING VOTE ON THIS VOTE WE CAN'T DO, WE'LL HAVE ONE 50 AND THEN ADD ONE 50 TO IT.
BUT THAT'D BE A SEPARATE PROPOSITION DOWN THE ROAD.
WOULDN'T BURDEN NO COUNSEL HAVE WIND IT DOWN 'CAUSE THAT WAS YOUR CHARGE, RIGHT? I WOULD SAY THAT WITH THE CURRENT CLIMATE OF MOST RESIDENTS, I WOULD SAY WE NEED TO STICK BELOW THAT ONE 50 PRETTY HARD.
'CAUSE THEY'RE NOT GONNA, I DON'T THINK PROPOSING RAISING TAXES IS GONNA WIN ANYBODY RIGHT NOW.
YOU ASK WHY WHAT WE ARE TODAY.
YOU CAN'T ALL CARE WHAT THEY WANT.
THAT'S IT'S REASON WHY I WAS IN FRISCO LAST WEEK GETTING MY STUFF.
I KNOW FOR THAT'S WHAT WE HAVE TO PUT PROPOSITION OUT THERE TO SAY, HEY LOOK, DO YOU WANT STAY STOCK OR DO YOU WANT GROW? IT'S, IT'S JUST REAL SUM.
CAN WE PUT THE QUARTERS ON THERE? BECAUSE IF WE CLEAN IT UP, THEY WILL COME ONCE WE'RE CLEAN AND THEY'RE DRIVING THROUGH AND THEY SEE THE BEAUTY OF
SO WE HAVE PEOPLE INTERESTED THAT WANTS TO COME IN HERE AND SCHOOL.
SO WE, IF WE PUT THE BOARD, I THINK THAT IS A VERY IMPORTANT PART TO, UH, GETTING TO COME IN.
IT'S YOUR FRONT DOOR TO YOUR HOUSE, RIGHT? WHAT, WHAT IMAGE DO YOU WANT TO TELL PEOPLE ABOUT YOUR HOUSE? BECAUSE WHEN I BOUGHT MY HOUSE, I TURNED AROUND, I TOLD MY HOUSE CALLED ME BACK THREE TIMES.
OH MY GOD, YOU NO, IT WAS NOT.
PEOPLE GET TO DOWNTOWN AND THEY LOVING IT.
BUT IT'S THAT FOUR OR FIVE MILES OF DRIVING STEREO DOWN TO THE DOWNTOWN TRIP.
WHAT ELSE? LET ME ASK THIS JUST, AND MAYBE YOU, THE THE BANK FOR YOUR BUCK THAT THE, SO THERE'S 350 MILLION HERE IS THE ASK TO PRIORITIZE THE TOP HUNDRED 50 AND THEN HERE'S THE OTHER 200 OR ARE THERE, I GUESS I'D ASK ARE THERE ANY NOW FOR CONSIDERATION OF THE THREE 50 THAT WE DON'T NEED TO EVEN SPEND ANY MORE TIME? I THINK WE'RE ASKING YOU TO HELP US WITH WHAT'S GONNA BE THE GREATEST RETURN ON JESSICA AND ALLOWS US TO MAINTAIN THE UNIQUENESS OF THE CITY.
NOT
BE A BIT OF A NIGHTMARE GETTING TO DOWNTOWN.
YOU KNOW, I'M LIVE IN THE RY DISTRICT AND IT'S BEEN THERE SINCE 1886.
IT'S IMPORTANT, BUT I BOUGHT THERE BECAUSE OF WHAT WAS THERE
WHICH ONE? THE BIGGEST RETURN ON INVESTMENTS THAT WE, WE CAN ABSOLUTELY DO THAT.
MATTER OF FACT, WE'VE ALREADY SCHEDULED A MEETING FOR NEXT WEEK FOR STAFF THAT WE, WE VERY COGNIZANT OF WANNA MAKE SURE WE'RE HEARING THE FEEDBACK FROM THE COMMITTEE AND WE WANNA MAKE SURE WE'RE HEARING THE RIGHT THINGS, THE RIGHT PRIORITIES.
YOU KNOW, IT'S, IT'S KINDA LIKE BE CAREFUL.
DON'T, DON'T GO GROCERY SHOPPING WHEN YOU'RE REALLY HUNGRY 'CAUSE YOU END UP PUTTING TOO MANY THINGS IN THE CAR.
EVERY, WE CAN ABSOLUTELY DO THAT.
IF THAT'S THE PLEASURE OF, OF THE COMMITTEE.
MR. CHAIRMAN, HOW DO YOU WANNA PROCEED ON? I THINK THAT'S A, I THINK THAT'S A GOOD IDEA.
I I TALKED TO NATHAN BEFORE THE MEETING ABOUT, ABOUT WHO LIKES THIS AND THAT, BUT I DON'T THINK WE'RE THERE, THERE YET.
SAY WE WANT THIS AND, AND, AND HERE'S OUR TOP 10.
EVERYBODY GOES AROUND AND TELLS WHO THE TOP 10 IS AND WE SCORE 'EM ALL, FIGURE OUT WHO'S NUMBER ONE ON AVERAGE IS THREE TO FOUR, FIVE AND SIX.
AND I THINK THE ROI STUFF'S IMPORTANT INFORMATION FOR OUR DECISION.
SO, UM, MAYBE SOME OF THE YOU, I DON'T HAVE THE ORDER, HOW YOU TAKE THAT ORDER NECESSARILY PROJECTS AT THE BOTTOM, BUT MAYBE SOME OF THOSE ARE SOME OF OUR BEST.
ROI IN THE COMMITTEE PROPOSED PROJECTS.
YOU KNOW, IF UH, IF CHIP'S MAKERSPACE IS ONE OF THE BEST ROI THINGSS, THEN WE WANNA KNOW THAT YOU, MY BRIDGE IS NOT GONNA
[02:00:01]
MAKE US ANY MONEY.WELL, WE WANT TO KNOW THAT TOO.
SO, UH, I THINK THAT I CAN REALLY SAY HERE'S HOW WE SHOULD PRIORITIZE BEFORE WE GET INTO THAT.
I THINK WE, WE NEED THAT INFORMATION THEN NEXT WEEK WE REALLY NEED START PUTTING TOGETHER HERE.
HERE'S WHAT WE'RE NOT GONNA DO.
I WOULD LIKE TO KNOW WHAT LESSONS WE HAVE LEARNED FROM
UH, WE NEED TO AVOID WHATEVER ASSUMPTIONS AT THAT TIME WORKED AND CONSIDER THOSE AS WE PRIORITIZE OUR SUBJECT.
BECAUSE SOMETHING EXACTLY WHAT I, I CAN HAVE AS MANY, UH, OBSERVATIONS, DETAIL THE COVID OR WHATEVER, BUT, UH, IT'S, IT'S, IT'S NOT LOOKING GOOD OUT THERE.
AND UH, OKAY, WHAT, WHAT, WHAT WAS IT? HOW DO WE AVOID THAT IN THE, UH, IN THE, UH, CONSIDERATION FOR THESE PROJECTS? WE CAN, IT'S, IT IS COMPLICATED.
I WOULD SAY IN A NUTSHELL WHAT HAPPENED, TIME HAPPENED.
TIME HAPPENED BECAUSE FRIENDS EBB AND FLOW ALL THE TIME THAT THING'S BEEN THERE.
HOW MANY YEARS IN PHASES SINCE THE EIGHTIES, THE FIRST GOLF COURSE, WHICH, WHICH BROUGHT THE HOMES, WHICH BROUGHT THE FIRE WHEEL.
BUT, BUT WHAT HAPPENED WAS, YOU REMEMBER, WE PROBABLY ALL REMEMBER GOING TO THE INSIDE MALL, WENT TO THE MALL, ALL THE STUFF WAS ON THE INSIDE.
WHEN THE MALLS DIED, THEN IT BECAME OUTSIDE MALLS.
AND THAT'S A, THAT BECAME A TREND.
IT'S AMAZON, IT'S, IT'S ALL THESE DIFFERENT TRENDS THAT HAPPEN OVER THESE ECONOMIC CYCLES AND, AND AND, AND IT IS, EVERYTHING HAS A, EVERYTHING HAS A LIFE CYCLE AND ONCE IT PEAKS AND DECLINES, YOU MIGHT BE ABLE TO TURN IT AROUND.
AND SOME, SOME PLC SOMETIMES YOU JUST CAN'T CHANGE THE TREND.
I MEAN I, YOU KNOW, I'M HOLDING OUT, I'M, I'M, I'M NOT GONNA JOIN SOCIAL MEDIA.
I'M GONNA BE THE LAST MAN THING AND I'M NOT GONNA DO IT, BUT I'M, I'LL BE, YOU KNOW, TIMES HAVE CHANGED AND I, I CAN EITHER EMBRACE IT OR NOT.
IT'S NOT UNIQUE TO HAPPENED IN PLAINVILLE.
IT'S, IT'S A TREND BANK ON BIG BOX STORES NEED TO FACTOR THAT IN.
BUT AT THE TIME IT CAME, IT WAS A CASH COW FOR EVERYBODY.
I MEAN, IT WAS, THAT WAS THE, THAT'S JUST HOW THINGS EBB AND FLOW.
I THINK THAT'S WANTED TO ADD ON THE, ON THE MALL BEING THE INCENTIVE PACKAGE FROM THE CITY ON THAT WAS BASED OFF OF YOU PERFORM, YOU GET INCENTIVES.
THEY DIDN'T PERFORM WELL, SO THEY DIDN'T GET MUCH.
SO JUST, I JUST WANTED TO ADD THAT THERE WASN'T A WHOLE BUNCH OF MONEY THROWN AT THE, THE FIREWALL ACCOUNT CENTER AREA WITHOUT, WITH WITHOUT ANY REAL BANG FOR YOUR BUTT.
THE INCENTIVES RELATED TO THAT MALL WHERE YOU PERFORM, YOU'LL GET AN INCENTIVE BASED OFF OF THAT.
AND IF THEY DON'T GET INCENTIVES, THEY HAVE UNDER THE ZONING LAWS, THEY HAVE THE RIGHT TO DEVELOP HOWEVER THEY FEEL THAT THEY CAN MAKE MONEY AND WE CAN'T STOP IT.
UM, BUT WE DO AN ROI ON ALL, ALL OF OUR INCENTIVES.
THEY HAVE TO PERFORM, LET'S GET A CERTIFICATE OF OCCUPANCY BEFORE THEY GET ANYTHING.
THEY DO A CERTAIN PHRASING, THEY HAVE TO HAVE A CERTAIN AMOUNT OF VALUE.
THEY HAVE TO BUY LIKE THE DATA CENTERS, THEY HAVE TO BUY ALL THE COMPUTER EQUIPMENT IN TOWN SO THAT WE GET THE SALES TAX OFF OF THAT.
SO, AND THE, AND THE BRONCOS AND THE SAINTS ARE PLAYING.
WE HAVE ANY SAINTS FANS IN HERE?
UH, WE'LL ROIS NEXT WEEK AND UH, STARTS PUTTING SOME PRIORITIES ON PAPER NEXT WEEK.
SO LET'S GO LOOK AT THOSE DOUBLE WIDE SPREADSHEETS.
ONE LAST ITEM JUST TO MAKE SURE WE GO BACK.
GOT ONE FEATURE ITEM RIGHT THERE.
DO WE HAVE ANY ADDITIONAL FOUR PROPOSALS? I THINK WE ALREADY DID THAT.
THIS WAS SAFE, THIS WAS SAFE FOR THE TABLE DISCUSSION FROM LAST MEETING.
SO, WELL I, I BEGAN DISCUSSING ABOUT THE, THE BRAND ROAD PROPERTY.
I'D LIKE TO SEE THAT BROUGHT FORWARD AS A PROPOSAL BECAUSE I THINK THAT IS YIELD IN, IN THREE $50 MILLION RETURN ON THIS.
COULD WE PUT THAT IN THE LAND ASSEMBLY BUCKET? YEAH.
GOTTA HAVE THE LAND THREE AGAIN.
WHAT? THE SCHOOL PROPERTY THAT'S ON BRAND IN ONE 90? THERE'S ABOUT ABOUT 20 ACRES.
[02:05:01]
AROUND 8 MILLION ISD LAND.GSD OWNS SOME LAND ON BRAND ROAD AND GEORGE BUSH.
I THINK THE PROPOSAL IS TO LOOK AT MAYBE TRYING TO PARTNER, ACQUIRE WITH GISD.
IT'S ABOUT $8 MILLION PIECE OF LAND TO DO SOME SORT OF FUTURE DEVELOPMENT.
AND IF THAT'S SOMETHING Y'ALL WANNA ADD TO THE BUCKET, I GUESS WE NEED MAJORITY APPROVAL FROM THE UH, BOARD TO GET IT.
COULD GISD SELL THAT TO A DEVELOPER WITH WITHOUT INVOLVED AT ALL? I CAN BECAUSE I MEAN THAT JUST AS LIKELY AS, AS THE COME PERMIT.
JUST AS LIKELY RIGHT FROM THEM.
I THINK WE CAN DO ECONOMIC DEVELOPMENT.
I THINK WE ROADWAY OFF OF THE FAIRWAY OF THE HIGHWAY.
OH, I'D LIKE TO LOOK AT, WE CAN, WE CAN ADD IT AND UH, PROBABLY THE BEST I CAN DO IS JUST GET AN AERIAL OF IT AND JUST SHOW KIND OF THE AREA AROUND IT.
UM, AND TALK THROUGH HOW THAT, HOW THAT MIGHT WORK.
WHAT OUR, WHAT OUR ROLE MAY OR MAY NOT BE.
I MEAN, IT, IT'S NOT ON THE TAX ROADS ANYWAY, SO THE DISTRICT DOESN'T HAVE THE INCENTIVE TO SELL IT FOR NEEDED MONEY.
BUT I THINK WE COULD, I THINK THE CITY AND, AND PART OF THE ECONOMIC DEVELOPMENT THAT MEANS COULD BE A, COULD BE A GENERAL, I WOULD JUST SAY THAT WE, YOU KNOW, I DON'T KNOW IF THERE'S BEEN ANY DISCUSSIONS WITH JSD ON THAT LAND TO ANDY'S POINT, IF IT'S CONSIDERED, I WOULD CONSIDER THIS IN A LAND BUCKET BECAUSE WE, I HAVE NO IDEA IF, IF THEY'RE WILLING TO SELL, IF THEY'RE WHAT THEY'RE DOING, WE CAN'T GUARANTEE, AND I THINK IT'S A POLICY DECISION BY THEM FIRST, BUT WE CLEARLY CAN'T INFLUENCE IT.
THEY ARE, YOU KNOW, AT ONE TIME IT WAS RESERVED FOR EXPANSION IN THEIR BOND PROGRAM FOR ADDITIONAL SCHOOLS OR FACILITIES.
WHETHER THEY STILL HAVE THAT POSITION OR NOT, I DON'T, I DON'T KNOW.
UM, AND THAT WOULD BE STRICTLY UP TO THEM.
IF THEY, IF THEY WANNA PUT IT UP FOR SALE, THEN WE WOULD BE, YOU KNOW, IT IS A GREAT PARCEL THERE.
UM, I DO KNOW THAT THERE HAVE BEEN SOME PEOPLE THAT HAVE PICKED TO BUYING IT ALREADY, UM, THAT ARE PRIVATE DEVELOPERS AND SO THEY CAN ABSOLUTELY SELL IT IF THEY DON'T PLAN ON IN.
OUR ROLE WOULD ONLY BE ONCE THEY HAVE, SOMEONE HAS BOUGHT IT AND THEN THEY, THAT, THAT PURCHASER WOULD COME TO THE CITY FOR SOME TYPE OF INCENTIVE BASED ON THEIR DEVELOP, BE TAX ABATEMENT MIGHT BE PARTICIPATION IN INFRASTRUCTURE, BUT IT'S GONNA BE STRICTLY DRIVEN BY WHAT THAT PROPOSAL IS.
IS IT A DATA CENTER OR IS IT A GROCERY STORE? DON'T KNOW.
WELL, I FACT THE CITY FROM BOTH STANDPOINTS TAXES OFF THAT PROPERTY GOES TO BOTH ENTITIES.
JUST, WE'RE GONNA HAVE TO THINK THROUGH WHAT OUR RULES NO, NO TAXES.
NO, I, I GET THAT 10 PEOPLE LEFT SO WE BARELY HAVE A QUORUM.
SO IF THIS ONE, IF Y'ALL WANT US TO LOOK AT THAT UP, WE WILL NEED EVERYONE TO SAY, YEAH.