* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.
          KNOWS A BETTER 
          [00:00:01]
. 
          ALL RIGHT, WELL AT SIX O'CLOCK I WILL WELCOME YOU TO THE JANUARY 28TH, 2025 MEETING OF TAX INCREMENT FINANCE NUMBER THREE, BOARD. 
          FIRST ITEM ON THE AGENDA, WHICH IS BEAUTIFULLY DISPLAYED IN FRONT OF US TONIGHT. 
          I LOVE IT, IS APPROVAL OF MINUTES. 
          YOU HAVE ALL HAD A CHANCE TO REVIEW THEM. 
          MOTION. 
          MOTION TO APPROVE. 
          SECOND. 
          SECOND BY MR. TORRES. 
          ALL IN FAVOR, A. 
          AYE. 
          AYE. 
          ANYBODY OPPOSED NOT AYE. 
          PASSES UNANIMOUSLY. 
          NEXT ITEM, PUBLIC COMMENTS. 
          WE HAVE NOBODY FROM THE PUBLIC THAT WANTS TO MAKE A COMMENT, SO WE WILL MOVE ON PAST NUMBER THREE, ITEMS FOR INDIVIDUAL CONSIDERATION. 
          THREE. 
          A UPDATE ON 2025 BOND PROGRAM AND MEDICAL DISTRICT. 
          MR. MATT, GOOD EVENING AND WELCOME AND THANK YOU FOR COMING TONIGHT. 
          WE HAVE REALLY THREE, FOUR ITEMS ON THE ITEMS OF INDIVIDUAL CONSIDERATION. 
          SO WE'LL JUMP RIGHT IN TO THE UPDATE ON 2025 BOND PROGRAM IN THE MEDICAL DISTRICT. 
          AND THEN I'LL PROVIDE AN UPDATE ON SOUTH GAR, THE SOUTH GARLAND PORTION OF OUR, OUR TIFF. 
          AND THEN WE'LL GET INTO THE TWO ACTIONABLE ITEMS THAT WE HAVE PROPOSED FOR YOU THIS EVENING. 
          QUICK BACKGROUND ON THE TIFF. 
          UM, THIS TIFF IS AN EXTREMELY LARGE TIFF. 
          YOU CAN SEE IT BASICALLY RUNS NORTH AND SOUTH SHILOH ROAD, PICKING UP ALL THE DATA CENTER CLUSTERS PLUS FOLLOWING HOLFORD OR UP IN THE NORTH SIDE OF GARLAND. 
          AND THEN THE ORIGINAL BOUNDARIES WERE THE MEDICAL DISTRICT WITH RIVER SETS SET AS KIND OF THE CATALYST TO BOOST REVENUES INTO THE MEDICAL DISTRICT. 
          AND THEN IT FOLLOWS SHILOH ROAD DOWN SOUTH TO PICK UP THE SOUTH PORTION OF, OF GARLAND WITH THE ANTICIPATION OF 6 35 BEING COMPLETE AT THE END OF 2025. 
          UM, THE CURRENT EXPIRATION DATE OF THIS TIFF IS DECEMBER 31ST, 2048. 
          AND THE LAST AMENDMENT THAT WAS MADE BY THIS BOARD WAS TO CONTEMPLATE THE EXPANSION NORTH AND SOUTH OF SHILOH, BUT TO ENSURE THAT THE MEDICAL DISTRICT PORTION OF THE FUNDS REMAINED INTACT FOR MEDICAL DISTRICT PROJECTS AT THE TIME THAT WAS 50.8 MILLION FOR THE MEDICAL DISTRICT AND THE EXPANSIONS WERE ANTICIPATED TO BRING 157.2 MILLION FOR THE NORTH AND SOUTH EXPANSIONS. 
          UH, LAST THING I WANTED TO NOTE IS WE WROTE THE PROJECT PLAN FAIRLY VAGUELY, AND THIS IS WAS BY DESIGN. 
          'CAUSE WE DIDN'T HAVE ANY REAL SPECIFIC PROJECTS TO IDENTIFY, TO PUT INTO THE PLAN. 
          SO WE JUST KIND OF HAD A OVERARCHING ECONOMIC DEVELOPMENT INITIATIVES AND PUT 157 MILLION IN THERE. 
          UM, WHAT WE'RE DOING NOW IS COMING BACK FOR AN AMENDMENT TO PUT AN ACTUAL PROJECT, THIS PARTICULAR ONE IN THE NORTH PART OF GARLAND. 
          BEFORE WE GET INTO THAT UPDATE ON THE BOND STUDY COMMITTEE RECOMMENDATIONS, UH, THE BOND STUDY COMMITTEE, UH, TWO OF UH, TWO, TWO OF OUR MEMBERS WERE ACTUALLY, UH, A PART OF THAT BOND STUDY COMMITTEE. 
          AND IT, I THOUGHT IT WAS A GREAT PROCESS, REALLY ENGAGED, A LOT OF GOOD CONVERSATION. 
          AND THIS IS REALLY WHAT THEY SETTLED ON AS THE RECOMMENDATION TO COUNSEL FOR A BOND PACKAGE WITH FOUR PROPOSITIONS. 
          ONE BEING STREETS FOR $230 MILLION. 
          THERE'S KIND OF TWO COMPONENTS TO THAT STREET'S BUDGET. 
          ONE IS THERE'S TWO, THE $210 MILLION OF THAT IS GOING DIRECTLY TO PAVEMENT CONDITION INDEX. 
          AND WHAT A PAVEMENT CONDITION INDEX IS, IS A SCORING METHODOLOGY TO LOOK AT HOW GRADING YOUR, GRADING OUR RESIDENTIAL ROADS AND ALL OF OUR ROADS BASED OFF OF, YOU KNOW, A, A SCORE OF UP TO A HUNDRED. 
          WHAT WE WANTED TO DO IS WE ENGAGED A CONSULTANT WHO USE A VERY GOOD TECHNOLOGY TO LOOK, NOT JUST JUST DRIVING THE ROADS TO SEE HOW THEY ARE, BUT USING, YOU KNOW, LASERS AND EVERYTHING ELSE TO DETERMINE WHAT IS THE EXACT RIGHT METHOD TO TREAT THIS ROAD. 
          AND WHAT IT CAME BACK TO SHOW IS WE NEED $210 MILLION OVER THE NEXT FIVE YEARS TO INCREASE OUR PCI. 
          SO THIS MONEY IS SET ASIDE SPECIFICALLY FOR MOST OF IT'S GOING TOWARDS RESIDENTIAL ROADS AND OUR ALLEYS. 
          AND I'LL TELL YOU THAT OUR ALLEYS IS WHAT WAS DRIVING OUR SCORE DOWN. 
          I BELIEVE IT WAS A 50 OUTTA A SCORE OF A HUNDRED. 
          SO THIS IS LOOKING TO GET AN IMPROVEMENT MUCH, UH, INTO THE SEVENTIES OVERALL FOR OUR, OUR PAVEMENT. 
          WE ALSO SET ASIDE $20 MILLION IN THIS PROPOSITION FOR GATEWAY AND CORRIDOR IMPROVEMENTS. 
          SO 
          [00:05:01]
THIS IS SOMEWHAT OF IT. 
          WHEN YOU THINK OF THE STREETS, 210 MILLION, THAT'S THE, HOW WELL DOES IT DRIVE? IS IT, UH, WHAT KIND OF CONDITION IS IT IN? THE 20 MILLION FOR GATEWAY AND CORRIDORS IS THE BEAUTIFICATION OF OUR MAJOR CORRIDORS. 
          SEVERAL OF THEM ARE WITHIN THIS TIFF, THE MEDICAL DISTRICT AND DOWN SOUTH BEING TWO REALLY IMPORTANT ONES. 
          AND IT'S A LOOK TO, YOU KNOW, REVAMP THE INTERSECTION SO THAT YOU HAVE BETTER SIGNAGE, ENTRY SCIENCE, THE CURB APPEAL IS PROBABLY THE BEST WAY TO DESCRIBE IT OF WHEN YOU ENTERED THE CITY. 
          THE SECOND PROPOSITION IS ECONOMIC DEVELOPMENT, AND IT WAS 75 MILLION. 
          AND I'LL GO INTO IT IN A LITTLE MORE DETAIL. 
          BUT IN THIS, UH, PROP, WE HAVE MONEY SET ASIDE FOR LAND ASSEMBLY, ECONOMIC DEVELOPMENT INCENTIVES, A REVITALIZATION PROGRAM, AND NEIGHBORHOOD VITALITY. 
          WE ALSO HAVE A CULTURAL ARTS FACILITY PROGRAM OF 25 MILLION. 
          AND SPECIFICALLY WHAT THIS IS CONTEMPLATING IS A COMPLETE RENOVATION OF THE GRANVILLE ARTS CENTER, WHICH IS RIGHT NEXT DOOR. 
          UH, IT'S A VERY OLD FACILITY. 
          A LOT OF, A LOT OF IT IS OUT OF COMPLIANCE WITH A DA AND THIS WILL BRING IT REALLY UP TO THE STANDARDS THAT IT DESERVES. 
          WE ALSO HAVE A PROP FOR PARKS AND RECREATION FOR 30 MILLION. 
          AND RIGHT NOW THIS IS, UH, REALLY SPECIFICALLY TIED TO PARKS AND RECREATION IN THE, UM, HARBOR POINT SECTION WHERE BASS PRO IS IN THAT AREA. 
          AND RIGHT NOW THE CONTEMPLATION IS, YOU KNOW, GETTING PUBLIC WATERFRONT ACCESS. 
          SO THINK THINGS LIKE A BOARDWALK. 
          AND I HAVE SOME IMAGERY OF SOME OF THE CONCEPTS THAT HAVE COME UP, BUT TRAILS AND OTHER THINGS FROM A PARK AND RECREATION STANDPOINT TO HELP DRIVE INVESTMENT FROM PRIVATE DEVELOPERS INTO THAT AREA. 
          SO THE TOTAL BOND PACKAGE IS 360 MILLION. 
          UH, COUNCIL IS SET TO CALL THAT ELECTION ON FEBRUARY 4TH, AND THAT ELECTION WILL BE IN MAY. 
          AND IN BIG BOLD AT THE BOTTOM, THERE IS NO TAX RATE INCREASE PROJECTED WITH THIS BOND PROGRAM, MATT. 
          AND HOW MUCH THE PREVIOUS, UH, BOND PACKAGE, HOW MUCH WAS THE TOTAL ON THAT ONE? IT WAS 423. 
          4 23. 
          AND THIS BOND IS EXTREMELY DIFFERENT COMPARED TO THAT ONE. 
          ONE THING TO POINT OUT IS, UH, THE STREET'S PROPOSITION IN 2019 WAS REALLY FOR MAJOR CORRIDORS, LONG-TERM DIFFICULT PROJECTS. 
          SO THINK LIKE SHILOH ROAD, NAMAN SCHOOL ROAD WHERE THERE'S GOTTA BE A LOT OF LAND ACQUISITION AND A LOT OF OF PLANNING CIVIL ENGINEERING IN ORDER TO GET IT EXTENDED TO MAKING IT LARGER TO IMPROVE TRAFFIC. 
          THIS PROPOSITION IS JUST PA PAVEMENT CONDITION, IMPROVING THE PAVEMENT OF OUR RESIDENTIAL ROADS, TALKING ABOUT COM COMMENT, UH, AND, AND I ASKED MATT, UH, YOU MIGHT GO BACK TO THE, THE STREET PORTION OF THAT, UH, AND, AND LAST NIGHT, I THINK THE BIGGEST APPLAUSE THAT WE GOT OR SCOTT GOT WAS WHEN HE SAID, THIS IS A NO TAX INCREASE PROJECT. 
          AND THE PUBLIC SEEMED TO ENJOY THAT VERY MUCH. 
          AND SO THAT WAS THE KEY GOING INTO THAT, UH, ON THE STREETS I GUESS I SAID, WAS IT, IT'S NO TAXING. 
          AND I WAS GONNA ENCOURAGE THE REST OF THE BOARD TO BE SURE AND PASS THAT ON TO YOUR CONSTITUENTS. 
          IT'S, UH, OH, YOU MENTIONED TO US AS A, AS A GROUP, UH, THE PUTTING THE STREETS IN THIS RATHER THAN DOING IT ANNUALLY THROUGH THE CITY BUDGET IS MUCH MORE, UH, FRUGAL WITH WITH COST OF DOING THE WORK. 
          AND WE, WE WIND UP DOING THE SAME THING OVER A FIVE YEAR PERIOD, BUT AT A MUCH MORE FRUGAL MEANS, UH, FROM A COST STANDPOINT. 
          YEAH, WE RIGHT THERE MAN. 
          WELL, CURRENTLY RIGHT NOW WE ARE, HE HEAVILY RELIANT ON WHAT ARE CALLED TAX NOTES FOR OUR STREET FUNDING, WHICH ARE TYPICALLY PAID OFF WITHIN ONE ONE YEAR. 
          WELL, A STREET'S GOING TO LAST ANYWHERE DEPENDING ON THE PAVEMENT, UH, CONDITION, DEPENDING ON THE TREATMENT ANYWHERE BETWEEN FIVE AND 20 YEARS. 
          SO THIS WILL ALLOW US TO BASICALLY PUT THE USEFUL LIFE TO TIE TO THAT AMORTIZATION TO SPREAD THE LENGTH OF IT OUT, FREEING UP THAT TAX NOTE FOR MORE SHORT TERM NEEDS LIKE A FIRE TRUCK OR A FACILITIES IMPROVEMENT AND HVAC GOES OUT. 
          SO THAT'S KIND OF THE STRATEGY WE'RE LOOKING AT RIGHT NOW. 
          THANK YOU. 
          TO GO IN A LITTLE MORE DETAIL ON THE ECONOMIC, UH, DEVELOPMENT BOND PROPOSITION. 
          THIS IS KIND OF THE BUCKETS THAT WE HAD IDENTIFIED TO COME UP WITH THAT 75 MILLION. 
          SO UNDER THE ECONOMIC DEVELOPMENT INCENTIVES, REALLY THREE AREAS WERE TARGETED. 
          HARBOR POINT, WHICH AGAIN IS THE BASH 
          [00:10:01]
PRO AREA, THE MEDICAL DISTRICT, WHICH IS WITHIN THE TIFF AND SOUTH GARLAND AVENUE, WHICH IS ALSO IN THE TIF. 
          AND I PUT IN, IN THE BREAKDOWN BELOW THE INCENTIVE. 
          RIGHT NOW THE ESTIMATE FOR THE MEDICAL DISTRICT PORTION OF THIS IS ABOUT 18 MILLION. 
          AND, AND THIS WAS TIED DIRECTLY TO TRYING TO GET A MEDICAL FACILITY RECRUITMENT BACK IN, RECRUITING A HOSPITAL BACK TO GARLAND. 
          AND WHERE THAT NUMBER WAS DERIVED FROM IS FROM PRIOR FEASIBILITY STUDIES. 
          WE HAVE FOUND THAT ASSUMING THIS IS A $60 MILLION HOSPITAL, ABOUT 30% OF IT IS GOING TO BE TOUGH FOR, UM, A PRIVATE DEVELOPER TO RECOUP DUE TO THE LOSS LOSSES IN OUR PAYOR MIX WITH OUR MEDICARE AND OUR CASH PAYERS WHO COME THROUGH THE, THROUGH THE, THE PREVIOUS FACILITY, WHICH WAS BAYLOR. 
          SO WE DO HAVE, UH, HEAVY, UM, TIF $3 WITHIN THIS ECONOMIC BOND. 
          AND THAT WAS THE MAIN THING I WANTED TO POINT OUT. 
          WE ALSO HAVE A CITYWIDE REVITALIZATION PROGRAM, WHICH WILL BE LOOKING TO DO SEVERAL THINGS. 
          ONE, UH, SHOPPING CENTER MAY IMPROVING THE FACADES ON SHOPPING CENTERS FOR WILLING, YOU KNOW, WILLING PROPERTY OWNERS ALSO HOME IMPROVEMENTS, WHICH WITH AN EXAMPLE THERE OF JUST BEING ABLE TO PROVIDE A, A LARGER DOLLAR AMOUNT TO, TO BEAUTIFY THE, THE NEIGHBORHOODS OF THE, OF GARLAND. 
          I'VE ALSO PUT A IMAGE OF THE BOARDWALK THAT I ALSO TALKED ABOUT, WHICH IS IN THE PARKS AND REC PROP. 
          SO THERE'S A LITTLE RENDERING OF WHAT POSSIBLY MAY COULD OR COULD OCCUR THERE. 
          AND I'VE ALSO GOT A, WHICH WE'LL GET INTO MORE DETAIL NEXT, UH, UH, IMAGE OF THE MEDICAL DISTRICT, WHICH IS JUST, I BELIEVE THAT'S SOUTH OF THE VA HOSPITAL AND SOME LAND WE HAVE ACQUIRED, WHICH COULD BE A POTENTIAL SITE FOR A NEW HOSPITAL. 
          SO JUMPING RIGHT IN TO THE MEDICAL DISTRICT UPDATE, RIGHT NOW WE OWN ABOUT 10.58 ACRES IN THE MEDICAL DISTRICT AREA. 
          SO WE OWN REALLY TWO PARCELS ROUGHLY AT SEVEN. 
          SEVEN SEVEN WALTER REED, WHICH WERE, UH, MEDICAL FACILITIES THAT WE'VE SINCE DEMOLISHED. 
          SO IT'S A BLANK SLATE. 
          AND THEN WHAT'S PICTURED THERE IS A 6.3 ACRE TRACK OFF FIVE 30 CLARA BARTON, WHICH RIGHT NOW IS WHERE WE'RE TARGETING FOR A FUTURE HOSPITAL ABOVE THAT. 
          AND ONE THING I WANNA POINT OUT, THIS IS JUST FOR DRAFT AND DISCUSSION PURPOSES, THIS BY NO MEANS WILL BE THE ACTUAL FOOTPRINT OF THE HOSPITAL, BUT THIS WAS JUST EARLY RENDERINGS TO SHOW THAT YES, A HOSPITAL COULD FIT AT THAT SITE WITH ABOUT 67,000 SQUARE FOOT, YOU KNOW, WITH A SERVICE YARD. 
          AND THEN THAT YELLOW LITTLE TRIANGLE THERE AT THE TOPS, A LITTLE HELIPAD. 
          SO MOVING TO THE TIF, UM, I MENTIONED EARLIER THAT THE TIF PLAN CONTEMPLATED THROUGH 2048, BRINGING IN ABOUT $50.8 MILLION TO THE MEDICAL DISTRICT. 
          UH, I'LL GET INTO THIS IN MORE DETAIL WHEN WE GET INTO THE NUMBERS, BUT WE ARE PROPOSING TO INCREASE THAT TO 88.7 MILLION FOR THE MEDICAL DISTRICT. 
          AND IF THAT COMES IN TWOFOLD, ONE, WE'RE GOING TO BE REQUESTING THAT WE EXTEND THE, UH, TERMINATION DATE SEVEN YEARS IN THE TIFF. 
          SO FROM 2048, PUSHING THAT OUT FIVE YEARS SO THAT IT WILL CREATE ADDITIONAL MONEY FOR THE MEDICAL DISTRICT. 
          AND SECOND, WE ARE GONNA BE PROPOSING A BORROWING AGAINST THE BALANCE THAT IS CURRENTLY IN THE MEDICAL DISTRICT AND THIS WOULD REPAY THEM WITH A 3.5% INTEREST TO GIVE THE MONEY BACK WITH TAKING INTO ACCOUNT TIME VALUE OF MONEY. 
          SO THAT BRINGS IT TO 88.7 MILLION RIGHT NOW. 
          THE NEXT STEPS THAT WE'RE WORKING ON RIGHT NOW IS WE ARE ENGAGED WITH A PRIVATE DEVELOPER AND A PRIVATE HOSPITAL OPERATOR. 
          WE'RE LOOKING TO, WE'RE CURRENTLY DRAFTING AND WORKING THROUGH CREATING AN EXCLUSIVITY AGREEMENT, WHICH THROUGH THAT WE WILL BE ABLE TO UPDATE OUR FEASIBILITY STUDIES AND REALLY START GETTING INTO THE NUTS AND BOLTS OF, OF THE RELATIONSHIP WITH THIS PRIVATE DEVELOPER ON IF IT'S GOING TO WORK AND IF IT'S GONNA BE SUSTAINABLE LONG TERM. 
          WE ARE CURRENTLY SEEKING FOR THE TIFF TO, UH, FOR THE COUNTY TO PARTICIPATE IN THE TIFF. 
          UH, THEY HAVE EXPRESSED SOME INTEREST, BUT UH, THE COUNTY CAN MOVE A LITTLE SLOW, BUT YAKO AND HER TEAM ARE GONNA KEEP PRESSING ON THEM TO TRY TO GET THE COUNTY PARTICIPATION. 
          UH, THE COUNTY PARTICIPATION WOULD PROBABLY BRING IN WITH THE, IF Y'ALL APPROVED, THE PROPOSED EXPANSION OF THE TIF WOULD BRING IN ABOUT AN ADDITIONAL $20 MILLION OVER THE LIFE OF THE TIFF. 
          UM, WE WILL ALSO BE LOOKING FOR PARTNERSHIPS WITH BOTH PARKLAND AND THE VA HOSPITAL. 
          UM, REALLY 
          [00:15:01]
WITH PARKLAND IT'S, IT'S MORE THAN LIKELY A MUST. 
          UH, WE IN THE CITY OF GARLAND ARE IN WITHIN PARKLAND'S, UH, WHAT'S CALLED A HOSPITAL DISTRICT. 
          AND WHAT THAT MEANS IS IF YOU ARE IN A HOSPITAL DISTRICT THAT IS ALSO A TAXING ENTITY, WHICH PARKLAND IS ANOTHER TAXING ENTITY, CANNOT OPERATE WITHIN THAT HOSPITAL DISTRICT AS ANOTHER TAXING ENTITY. 
          SO THEY'VE DONE THIS BEFORE, IT IS MORE TO SAY THAT WE NEED TO MAKE SURE THAT THERE'S AN AGREEMENT IN PLACE FOR THEM TO PROVIDE US SERVICES AND WE PROVIDE THEM SERVICES AND TO WORK MUTUALLY TOGETHER IF THIS GOES THROUGH AND WE BUILD A HOSPITAL. 
          CAN I PAUSE YOU FOR A, YOU SAID THEY'VE DONE THIS BEFORE. 
          WHEN YOU SAY THEY, YOU'RE REFERRING PARKLAND, SO WHAT OTHER IN, IN THIS INSIDE OF DALLAS COUNTY, WHAT TYPE? SIMILAR. 
          SOUTHWEST IS PROBABLY THE LARGEST ONE. 
          SOUTHWEST HOSPITAL IS PARTNERED WITH PARKLAND. 
          THAT'S THE LARGEST ONE I CAN THINK OF. 
          U SOUTHWEST, UT SOUTHWEST UNIVERSITY HOSPITAL, UT SOUTHWESTERN. 
          GOTCHA. 
          OKAY. 
          , ANY OTHER QUESTIONS? NO, I'LL PAUSE THERE. 
          IF THERE ARE, I MEAN CHARITY, YOU WANT ME TO PAUSE AFTER EACH SECTION? WOULD THAT BE YEAH, THAT'D BE BEST. 
          'CAUSE QUICK CLARIFICATION THAT FROM 50 TO 88 AS WE ACCUMULATE MONEY, IS THAT, WILL THAT 50 ACCUMULATE UP TO THE 88.7 AS WE GO  FOR THE MEDICAL DISTRICT? CORRECT. 
          SO IT IS TWOFOLD. 
          ONE, IT'S BECAUSE WE EXTENDED THE TIF SO THEY WILL GENERATE MORE MONEY BECAUSE THERE'S MORE YEARS LEFT IN THE TIF. 
          BUT SECOND, AND I'LL GET INTO THIS, WHEN WE GET INTO UM, ITEM C, WE'RE GOING TO BE REQUESTING TO BORROW SOME OF THE MONEY THAT IS ALREADY THERE THAT HAS ALREADY BEEN GENERATED BY THE TIFF. 
          SO WHAT I AM PROPOSING IS THAT THE REST OF THE TIFF NOW NEEDS TO PAY THEM BACK WITH AN INTEREST RATE TO BRING IT BACK TO PRESENT VALUE OF WHAT THEY WOULD'VE EARNED IF THEY WOULDN'T HAVE BEEN BORROWED AGAINST. 
          YES MA'AM. 
          IS THAT WHY ON THE ECONOMIC DEVELOPMENT PART OF THE BOND ONLY 18 MILLION IS REQUESTED? I DON'T KNOW WHY I HAD IN MY HEAD THAT IT WOULD BE 50 MILLION REQUESTED THAT I THINK YOU'RE REQUESTING THE 18 MILLION IN THE BOND AND THEN MAYBE THE REPAYMENT IS WHAT GETS 50 MILLION BACK IN THE TIF FOR THE MEDICAL DISTRICT. 
          WELL ORIGINALLY BEFORE THE ECONOMIC DEVELOPMENT BOND PRO PROPOSITION WAS EVEN CONTEMPLATED, THE TIF WAS ONLY GOING TO HAVE 50.8 MILLION THROUGH 2048 FOR THE MEDICAL DISTRICT, WHICH WITH TIME VALUE AND MONEY, THAT'S PROBABLY REALLY 30 MILLION. 
          THE ECONOMIC DEVELOPMENT BOND PROPOSITION WAS STRICTLY LOOKING TO CONTEMPLATE WHAT IS IT GOING TO TAKE FROM A GAP FINANCING STANDPOINT IF A PRIVATE DEVELOPER WANTS TO COME HERE AND CONSTRUCT A HOSPITAL BASED OFF OF INFORMATION WE HAVE, WE HAD 18 MILLION. 
          THIS MONEY WE ARE SETTING ASIDE FOR OTHER THINGS. 
          WE HAVE OTHER MASTER PLANS THAT AREN'T TALKED ABOUT HERE, BUT ROADWAY IMPROVEMENTS, SIGNAGE POSSIBILITY FOR MAYBE A A, A WELLNESS PARK IN PAR PARTNERSHIP WITH THE VA HOSPITAL. 
          SO ALL THE OTHER ECONOMIC INCENTIVES THAT WILL NEED TO HAPPEN IF A HOSPITAL COMES HERE, THERE WILL BE NEED FOR HOUSING BECAUSE IF WE DO GET A HOSPITAL, THERE WILL BE A LOT OF JOBS. 
          NURSES NEED TO HAVE A PLACE TO STAY, FAMILIES NEED TO HAVE A PLACE TO STAY WHEN THEY COME. 
          SO ALL THOSE THINGS ARE WHAT ARE BEING CONTEMPLATED WITH HERE. 
          SO WITH THE 18 MILLION, THE OTHER, THE OTHER BUCKETS OR PART OF THE PROJECT, I'M NOT, I'M NOT SURE HOW TO ASK WHAT. 
          SO IF, LET'S ASSUME THE ECONOMIC DEVELOPMENT PROPOSITION FAILS, THE ECONOMIC DEVELOPMENT PROPOSITION FAILS, THIS BUCKET OF MONEY WILL NEED TO BE USED FOR THE RECRUITMENT OF A HOSPITAL. 
          OKAY. 
          SO THE 18 MILLION IS REALLY BASED JUST ON WHAT THE NEGOTIATIONS AT THIS POINT WOULD TAKE TO BRING THAT HOSPITAL. 
          THAT'S THAT 30%, RIGHT? CORRECT. 
          AND THAT WAS WAS JUST THE ESTIMATE THAT WE CAME UP WITH AT THE TIME. 
          REMEMBER THE PROPOSITION IS A TOTAL OF 75 MILLION. 
          RIGHT. 
          AND WE, WE WANNA MAKE SURE THAT EVERYONE KNOWS THAT WE HAVE TO REACT AND TAKE O OPPORTUNITIES AS THEY ARISE. 
          SO IF WE'RE IN DISCUSSIONS WITH THIS HOSPITAL AND THEY NEED 25 MILLION AND THAT BOND PROPOSITION IS THERE, WE MORE THAN LIKELY WILL LOOK TO COUNCIL TO SEE IF WE WANT TO DO THAT. 
          OKAY. 
          THAT WE HAD TO JUST KIND OF DRAW THE LINE AT SOME POINT. 
          AND WITH ECONOMIC DEVELOPMENT IT'S HARD BECAUSE IT'S 
          [00:20:01]
NOT A SPECIFIC PROJECT. 
          WE HAVE IT'S CONCEPTS. 
          SO YOU HAVE TO KIND OF RUN OFF ESTIMATES AND PROVIDE YOURSELF THE FLEXIBILITY TO BE ABLE TO REACT TO THE MARKET AS IT CHANGES. 
          OKAY. 
          IF, QUICK QUESTION MATT, UH, ON THE, UH, DEVELOPER FOR THE, UH, WHATEVER WE SEE WE VISUALIZE AS FAR AS THE HOSPITAL, WHAT MODEL OR PLAN DO YOU SEE OR HAVE THEY SHARED WITH YOU? WHAT WOULD MAKE IT VIABLE FOR THEM? IT'S STILL VERY EARLY IN THE DISCUSSION. 
          THAT'S WHAT THIS EXCLUSIVITY AGREEMENT WILL GET INTO IN THIS FEASIBILITY STUDY WILL DETERMINE EXACTLY WHAT CAN MAKE IT WORK FOR THEM. 
          BUT WE KNOW WE WANT ACUTE CARE AND WE WANT KNOW, WE WANT AN EMERGENCY ROOM AND THEY KNOW THEY WOULD, WOULD ARE GOING TO PROVIDE THAT AS WELL. 
          IT'S JUST WHEN YOU GET INTO THINGS LIKE LABOR AND DELIVERY, CARDIOLOGY, THOSE TYPES OF THINGS, WE MORE THAN LIKELY ARE GOING TO HAVE AT FIRST STILL HAVE TO PARTNER WITH SOMEBODY TO PROVIDE THOSE SERVICES. 
          UH, THE HOSPITAL WILL BE BUILT AND AT LEAST IN OUR CURRENT, UH, MINDS BUILT IN A WAY TO EXPAND. 
          SO WE, WE HAVE TO START SMALL SO IT'S VIABLE. 
          USUALLY THE FIRST THREE YEARS OF A HOSPITAL ARE EXTREMELY HARD BECAUSE ONE, THEY DON'T HAVE A WHOLE LOT OF CLIENTELE BUILT UP AND THEY HAVE HUGE FIXED COSTS ASSOCIATED WITH THE DEBT, ELECTRIC BILLS, PAYING ALL THEIR DOCTORS, ALL THOSE THINGS. 
          SO WE WANNA MAKE, THAT'S WHERE THE GAP FINANCING COMES IN. 
          WE'RE LOOKING TO COVER THAT GAP TO GET THEM OFF THE GROUND AND RUNNING AND THEY'LL START SMALL. 
          SO THEY'RE SUSTAINABLE AND WITH THE ROOM TO GROW OVER TIME AS THEY GET MORE CLIENTELE IN. 
          OKAY, THANK YOU. 
          SO IF, IF ECONOMIC DEVELOPMENT IS SUCCESSFUL, THIS 18 MILLION IS A PROVISION. 
          IF THEY'RE NOT, IF THEY ARE SUCCESSFUL, WHAT, WHAT HAPPENS TO THE 18 MILLION? IT STAYS. 
          IT STAYS. 
          THAT'S OKAY BECAUSE I'M REALLY, REALLY WHAT I'M PROPOSING HERE IS TO PAY BACK BECAUSE OF THE TIME VALUE OF MONEY. 
          'CAUSE WE'RE BORROWING AGAINST THE MEDICAL DISTRICT WHEN WE GET FURTHER DOWN IN THE AGENDA. 
          SO, AND IT, I JUST REALIZED THAT IT JUST HAPPENED TO BE 18 MILLION THAT WASN'T ON PURPOSE. 
          , I THINK, EXCUSE ME. 
          ONE OF THE THINGS Y'ALL BROUGHT OUT IN THE, IN THE BOND TO US IS THAT WE HAVE TWO WAYS TO FINANCE AND THAT'S EITHER WITH TIFF MONEY OR WITH THE BOND MONEY, WHICH GIVES US UH, A LOT MORE, UH, ROOM FOR SUCCESS I WOULD SAY IN, IN MAKING THIS HAPPEN. 
          CORRECT. 
          WHEN, WHEN IT COMES TO ECONOMIC DEVELOPMENT, WE ONLY HAVE REALLY TWO PA OR THREE PATHS. 
          CASH, WHICH IS LIMITED. 
          WE DON'T HAVE A WHOLE LOT OF CASH JUST SITTING AROUND. 
          WHY NOT? WELL THOSE POLICEMEN AND FIREMEN, YOU KNOW, , WE HAVE THE TIFF PLANS THAT WE'VE ESTABLISHED WHICH WILL PROVIDE INCREMENTAL REVENUE, WHICH IS SLOW USUALLY. 
          AND THREE, WE HAVE ECONOMIC DEVELOPMENT. 
          UH, MOST OTHER CITIES HAVE WHAT'S CALLED A FOUR A OR FOUR B SALES TAX, WHICH IS, UH, BECAUSE WE'RE IN DART, LEMME BACK UP 'CAUSE WE'RE IN THE DART SYSTEM. 
          1% OF OUR SALES TAX GOES TO DART CITIES THAT AREN'T IN DART RECEIVE 2% AND USUALLY WE'LL SET ASIDE 1% OF THAT FOR ECONOMIC DEVELOPMENT. 
          SO THEY COULD ISSUE BONDS BACKED BY SALES TAX, WHICH MAKES A LOT MORE SENSE WHEN IT COMES TO ABOUT ECONOMIC DEVELOPMENT BECAUSE IT'S BEING PASSED ALONG TO THE ACTUAL CONSUMERS. 
          BUT UNFORTUNATELY IN GARLAND, A GEO BOND BACKED BY PROPERTY TAXES IS THE ONLY ROUTE. 
          ANYTHING ELSE? ALRIGHT, WE'LL LET'S MOVE RIGHT ON TO SOUTH GARLAND AVENUE UPDATE THERE. 
          SO THE TARGET AREA IS THIS, UM, THIS AREA SHOWN HERE WITH THE COLORS AND WHAT, LET ME GO OVER THE COLOR COATING. 
          SO THE AREAS IN RED ARE PRIVATELY OWNED AT THIS TIME. 
          THE AREAS IN YELLOW, THE CITY OF GARLAND OWNS. 
          AND THE AREA IN GREEN, UH, THE DART DART OWNS, UH, NEXT TO IT IS A LIST OF ALL THE PROPERTY THAT WE HAVE ACQUIRED. 
          SO WE OWN, RIGHT NOW, WHAT IS IT, 34 ACRES OF LAND, UH, IN THE DART PROPERTY IS HIGHLIGHTED BECAUSE WE HAVE ENTERED INTO AN INTERLOCAL AGREEMENT WITH DART, ACTUALLY TWO INTERLOCAL AGREEMENTS THAT CONTEMPLATE THEM GIVING US $37 MILLION. 
          AND RIGHT NOW THE PLAN IS TO DO A LAND SWAP WITH DART. 
          SO THAT AREA IN GREEN, WE WANT TO ACQUIRE THAT WITH 
          [00:25:01]
THEIR MONEY THAT THEY HAVE. 
          SO GENEROUSLY GIVEN US IN THESE, IN OUR LOCAL AGREEMENTS TO CREATE ROUGHLY A 41.1 ACRE TRACK OF LAND WE OWN, WE ARE ALSO IN NEGOTIATIONS TO PICK UP ANOTHER 10 ACRES. 
          SO IN TOTAL WE'RE ANTICIPATING OVER 50 ACRES BEING ASSEMBLED IN THIS AREA FOR A LARGE DEVELOPMENT. 
          SO AFTER THAT LAND SWAP, MORE THAN LIKELY WHAT WILL HAPPEN IS YOU, YOU CAN SOMEWHAT SEE IT HERE, THAT IS WHERE THE DART CURRENT TRANSIT CENTER IS. 
          AND THE REST OF THAT IS PARKING. 
          AND THAT IMAGE BASICALLY IS WHAT IT LOOKS LIKE ALL THE TIME. 
          IT'S, IT'S FAIRLY EMPTY. 
          THEY, THEY SET THEMSELVES UP WITH A LOT OF PARKING THAT'S JUST NOT NEEDED. 
          AND THEY'RE IN THE SAME MINDSET AS US. 
          THEY WANNA SEE ECONOMIC DEVELOPMENT. 
          SO WITH THE LAND SWAP, WE WILL TAKE THAT PORTION OF THAT LAND ROUGHLY SIX ACRES AND MOVE THEM UP CLOSER TO WHERE THAT MALAY ROAD IS AND WHERE THAT RED BAR STARTS AND MOVE THEM UP THERE SORT OF OUT OF THE WAY OF THE ACREAGE. 
          AND THEN SEEK TO CREATE A MASTER DEVELOPMENT PLAN IN PARTNERSHIP WITH DART TO CREATE A HUGE ECONOMIC PLAN THAT WE CAN HOPEFULLY DRIVE DEVELOPMENT INTO THIS AREA. 
          SO IF YOU COULD JUST VISION UP NORTH 1, 6 30 FIVE'S DONE. 
          THAT BIG CHUNK IS THE OLD HYPER MART SITE. 
          IT'S RIGHT NOW THE STAGING AREA FOR, UH, 6 35. 
          WHEN 6 35 IS COMPLETE. 
          YOU CAN IMAGINE THINGS LIKE MIXED USE MULTIFAMILY WITH A LARGE ANCHOR DOWN SOUTH WITH MIXED USE ALL AROUND IT. 
          SO THOSE ARE KIND OF THE CONCEPTS WE'RE LOOKING TO GET HERE. 
          AND THE REASON IS, IS ONCE 6 35 IS COMPLETE, THIS WILL BE THE BIGGEST GATEWAY INTO GARLAND FROM SOUTH GARLAND. 
          SO WE WANT IT TO BE A BIG BANG. 
          WE DON'T WANT IT TO JUST BE, YOU KNOW, THE COOKIE CUTTER MULTIFAMILY THERE. 
          WE WANT A NICE DESTINATION. 
          WHEN YOU'RE ENTERING GARLAND, DO WE HAVE AN IDEA BESIDE WHAT ARE WE LOOKING TO PUT THERE? WHAT DO YOU RETAIL CASINO, I COULDN'T AFFORD THAT  THAT THAT WOULD BE A DISASTER FOR ME. 
          IT KIND OF DEPENDS. 
          SO AT THIS POINT WE'RE, WE'RE WORKING TOGETHER, UH, WITH OUR TEAM AND ECONOMIC DEVELOPMENT TO KIND OF PUT TOGETHER SOME RECRUITMENT PACKAGES AND GO OUT AND NETWORK AND KIND OF MAKE SURE THAT WE'RE GETTING IN FRONT OF DEVELOPERS. 
          'CAUSE IT'S A LARGE, IT, IT, THE ASSEMBLY'S NOT YET DONE WHAT BASED ON THIS MAP, WE'RE NOT FINISHED. 
          SO RIGHT. 
          IT'S GONNA END UP A GOOD, YOU KNOW, 50 ACRE CHUNK. 
          AND SO A LOT OF IT IS GONNA BE WITH, YOU KNOW, WE WANT IT TO BE A DESTINATION RATHER THAN JUST AN OCEAN OF OFFICE. 
          IT WE'D MUCH RATHER IT BE A TRUE MIXED USE THAT HAS SOME KIND OF ENTERTAINMENT OR DESTINATION COMPONENT TO IT. 
          UM, THAT'S KIND OF ALWAYS BEEN THE, THE MODEL FOR DOWN THERE. 
          EVEN EVEN BACK WHEN THE HYPER MART WAS ACQUIRED A LONG TIME AGO, THAT WAS KIND OF ALWAYS THE, THE UNDERLYING HOPE THAT THAT AREA WOULD BE SOMETHING LIKE THAT. 
          SO IT'LL BE A, IT'LL BE KIND OF THE DANCE YOU DO WITH DEVELOPERS ON, YOU KNOW, WHAT'S THE MARKET GONNA BEAR RIGHT NOW? UM, ARE THEY THE RIGHT PARTNER? ARE THEY BRING IN THE RIGHT THINGS TO US. 
          AND SO, UM, THAT'S, THAT'S WHERE WE ARE RIGHT NOW. 
          AND YOU MAY HAVE SAID THIS, I'M NOT, WHAT ARE THE GRAY AREAS? SO THE BIG GRAY AREA RIGHT HERE IS A, IS A SUBSTATION. 
          THAT'S, THAT IS OKAY. 
          HOUSES. 
          TRYING TO FIGURE OUT WHERE THAT WAS. 
          SO, NO, THAT'S, UH, ENCORE. 
          GPNL TRINITY AND T-T-M-P-A. 
          SO, UM, THEY'RE IN THE WAY, BUT THEY'RE A LITTLE EXPENSIVE TO MOVE. 
          SO I, I I THINK THAT'S STAYING, YEAH. 
          AND THEN THE, THEN THE OTHER PIECE IS THE WATER TOWER RIGHT HERE. 
          OKAY. 
          I, I WAS TRYING TO GET MY BEARINGS IN THE AREA AND I THOUGHT THAT WAS A LITTLE FARTHER EAST, BUT I SEE IT NOW, SO. 
          OKAY. 
          THANK YOU. 
          HAS PLAN COMMISSION HEARD ANYTHING ON THESE PIECES AS FAR AS ZONING SO THAT IT'S PROTECTED WHERE WE DON'T GET, WE'RE, WE'RE WORKING ON A PLAN DEVELOPMENT, A CITY INITIATED PLAN DEVELOPMENT FOR THAT AREA RIGHT NOW. 
          SO IN ORDER TO BRING THAT FORWARD TO IT WOULD BE A, HASN'T MADE IT TO US YET, BUT OKAY. 
          THEY ARE WORKING ON IT. 
          NO, IF IT HADN'T BEEN BROUGHT FORWARD YET, BUT IT WOULD PROTECT IT FROM ABSOLUTELY BECOMING JUST, I DON'T KNOW, SOMEBODY THAT WANTS TO DO STORAGE UNITS, YOU NAME IT. 
          THAT'S WHAT, THAT'S THE GOAL. 
          YOU GOTTA, WELL, THANK YOU. 
          I THINK WE'LL PASS THAT WHEN IT GETS TO US. 
          YEAH, WE'VE ALREADY HAD ONE COME AND IT DIDN'T PASS. 
          YEAH. 
          AS A MATTER OF FACT, WE HAVE A DRAFT, WE'RE EXPECTING KIND OF ANY DAY TO TO, TO TAKE ANOTHER LOOK AT THE DRAFT AND GET THAT MOVING FORWARD. 
          SO YES, WE, WE AGREE WITH YOU. 
          PERFECT. 
          DO WE HAVE AN OVERLAY? DO WE HAVE AN OVERLAY OF WHAT, UH, 6 35 IS GONNA LOOK LIKE WHEN THEY GET THROUGH RIGHT THERE? UH, I DO NOT. 
          THERE IS A FACEBOOK PAGE. 
          THEIR WEBSITE IS, IS THEIR WEBSITE, IS IT, IT, IT'LL RUN YOU THROUGH IT. 
          YOU CAN GET IN THE CAR. 
          YEAH, THAT'S PRETTY COOL. 
          AND DRIVE 
          [00:30:01]
ALL THE WAY THROUGH IT IF YOU WANT. 
          SO IT, IT'S, I WOULD DO THAT. 
          WELL, I'LL FIND THE LINK TO THAT AND SEND IT OUT. 
          THAT'S GONNA HAVE TO DO WITH HOW THIS LAYOUT OF THE DEVELOPMENT EVENTUALLY WINDS UP, I WOULD THINK. 
          YEAH, WE, WE KNOW WHAT THE ULTIMATE BOUNDARY ALREADY IS AND SO THAT'S KIND OF CONTEMPLATED IN, IN, YOU KNOW, WHATEVER WE'RE WORKING ON. 
          YOU'VE GOT THE CLOVER LEAF THAT COMES UP THERE BY U-HAUL. 
          EVENTUALLY U-HAUL WANTS TO MOVE THEIR STOREFRONT TO THE POINT FACING GARLAND ROAD. 
          UM, SO YOU'LL HAVE, YOU KNOW, THEIR SALES PIECE THERE AND EVERYTHING RUNNING BACK WILL BE THEIR STORAGE. 
          UM, BUT THAT'S ALL GONNA BE COVERED PRETTY MUCH BY THE CLOVER LEAF. 
          THANK YOU. 
          ANYTHING ELSE ON THAT PART? Y'ALL ARE QUIET ON THAT SIDE OF THE ROOM. 
          COME ON. 
          OKAY. 
          WELL, SO HERE'S KIND OF THE NEXT STEPS FOR SOUTH GARLAND. 
          WE'VE COVERED SOME OF THIS, BUT YOU KNOW, WE WE'RE, WE'RE GONNA, WE NEED TO COMPLETE SOME PARCEL ASSEMBLAGE. 
          UH, THERE NEEDS TO BE A MALAY ROAD REALIGNMENT. 
          AND RIGHT NOW THIS IS CONTEMPLATED TO KIND OF MOVE THIS UP TOWARDS LIKE THIS WAY. 
          SO THAT'S THE CURRENT IDEA. 
          UM, THERE'S ALSO, WE GOTTA FINALIZE THE ILA, UH, ILA WITH DART FOR THAT LAND SWAP, UH, WHICH WILL COMPLETE THAT ACQUISITION OF THE SIX ACRES. 
          AND THEN WE NEED TO START THE DESIGN OF THAT NEW BUS TRANSIT CENTER AND THEN WORK IN CONJUNCTION WITH DART TO GET A MASTER PLAN OUT. 
          SO MATT WILL THAT, WILL THE CITY EVENTUALLY OWN THE LAND WHERE DART WILL BE? CORRECT. 
          AND THEY'LL LEASE IT BACK FROM US, OR NOW WE WILL JUST OWN IT. 
          YEAH. 
          IT IT'S GOING, IT IS GOING AWAY AND WE'RE MOVING THEM NORTH. 
          YEP. 
          WE'RE BASICALLY SWAPPING LAND. 
          SO THEY'RE GONNA GET A LITTLE BIT OF OUR YELLOW. 
          OKAY. 
          AND WE'RE GONNA TAKE A BIG CHUNK OF THEIR, IT WILL BE THEIR LAND THEN TO CORRECT. 
          TAKE CARE OF PAY TAXES WITH NO TAXES. 
          WELL, THEY WON'T BE PAYING TAXES, BUT THEY'LL HAVE A MUCH SMALLER FOOTPRINT. 
          WE CAN COLLECT TAXES ON THE BIGGER ONE. 
          THEY WON'T HAVE 200 EMPTY SPACES EVERY DAY. 
          EXACTLY. 
          YEAH. 
          WHAT WILL THEIR NEW SITE BE ACRE WISE? I DON'T THINK I'VE ABOUT TWO AND A HALF. 
          IT'S NOT VERY BIG. 
          IT'S LITERALLY, YOU KNOW, IT'S KIND HARD TO SEE, BUT IT'S, IT'S, IT'S THE FOOTPRINT THAT THEY'RE IN. 
          UHHUH  AND, AND THEY'VE REQUESTED 75 80 PARKING SPACES. 
          UM, AND SO THAT WAY THE IDEA IS THAT IT, AND, AND THEY ARE, YOU KNOW, LOOKING AT THIS, AT THEIR, THEIR HIGHEST LEVEL, THEIR STRATEGIC LEVEL IS INCORPORATING THESE, THESE TRANSFER STATIONS AND ANY OF THEIR TRANSIT STATIONS INTO, UM, TRANSIT ORIENTED DEVELOPMENT. 
          SO THEY WANT IT TO BE BUILT IN TO PART OF WHAT WE'RE DOING. 
          THEY WANT IT TO BE PART OF IT, NOT KIND OF THIS APPENDAGE. 
          SO IS THAT IT FOR SOUTH? THAT'S IT FOR SOUTH. 
          OKAY. 
          THE NEXT TWO ITEMS ARE THE, UH, ACTIONABLE ITEMS. AND WE'LL SPEND THE REST OF THE EVENING MOST, MORE THAN LIKELY TALKING ABOUT THE, SO THIS ITEM HERE IS TO CONSIDER UPDATE THE TIF THREE PROJECT AND FINANCING PLAN TO INCLUDE A PROJECT ASSOCIATED WITH THE DESIGN AND CONSTRUCTION OF A PROFESSIONAL AND YOUTH ATHLETIC COMPLEX LOCATED GENERALLY AT HOLFORD ROAD AND PRESIDENT GEORGE BURST TURNPIKE. 
          AND THEN ALSO UPDATING ALL REQUIRED SCHEDULES THAT NEED TO BE UPDATED PER THE CHAPTER THREE 11 OF THE TAX CODE, WHICH IS WHAT, UH, LEGALLY DEFINES WHAT WE CAN DO AS A TIFF. 
          SO TO JUMP RIGHT IN, THIS PROJECT HAS BEEN IN, WORKS FOR OVER THREE YEARS NOW AND IT FEELS LIKE AN ETERNITY, BUT, UH, THE REASON WHY WE WERE LOOKING INTO THIS IS IT REALLY IS A UNIQUE OPPORTUNITY FOR GARLAND. 
          SO BASED OFF OF SOME OF THE, THE STUDIES THAT WE HAVE USED AND LOOKED AT ECONOMIC ANALYSIS, THESE ARE JUST SOME HIGHLIGHTS OF THAT THAT I THOUGHT Y'ALL MIGHT FIND INTERESTING. 
          WHEN YOU LOOK AT GROWTH OF MAJOR US TEAM SPORTS, YOU CAN SEE SOCCER AT THIS TIME IS, UH, RIGHT NOW THE FASTEST GROWING SPORT IN THE UNITED STATES. 
          AND REALLY ONE OF THE BIGGER THINGS IS THE AGE GROUP THAT WANTS TO LOOK AT AND WHO ARE FANS OF SOCCER. 
          IT'S TYPICALLY SOMEONE AT THE AGE OF 35, MEANING A LONG-TERM PROJECT WOULD PROBABLY BETTER SERVED FOR A YOUNGER AGE DEMOGRAPHIC WHO WATCHES THE SPORT AND VERSUS SOMEBODY THAT'S 57, 50, 49 AND 42 FOR THE OTHER MAJOR LEAGUE SPORTS SUCH AS BASEBALL, FOOTBALL, HOCKEY, AND, UH, THE NBA BASKETBALL LEAGUE. 
          ALSO, UH, 73% OF HISPANICS ALSO CALL THEMSELVES SOCCER FANS, WHICH AS Y'ALL ALL KNOW, GARLAND HAS A LARGE HISPANIC POPULATION, 
          [00:35:01]
WHICH MAKES IT CERTAINLY A GOOD POSSIBILITY FOR A, FOR A PROFESSIONAL SOCCER TEAM. 
          OTHER GREAT INFLICTION POINTS IS, UH, IN 2026, UH, THE MEN'S WORLD CUP WILL BE COMING TO DALLAS AND THERE IS A STRONG LIKELIHOOD AGAIN IN 2031 THAT THE WOMAN'S WORLD CUP WILL ALSO BE COMING TO THE UNITED STATES WITH DALLAS PROBABLY RIGHT THERE AT THE TOP OF THE LIST. 
          ARE WE TRYING TO GET THEM TO PLAY HERE? YES. 
          . 
          AND THAT'S WHERE THIS LEAD COMES IN. 
          SO WHAT THIS, AGAIN, THIS REQUEST HERE IS FOR THE DESIGN AND CONSTRUCTION OF A SOCCER STADIUM FOR PROFESSIONAL AND YOUTH. 
          AND SO WHAT I'M DOING HERE IS JUST WALKING THROUGH WHO THE INDIVIDUALS ARE THAT ARE THIS PROFESSION, PROFESSIONAL SOCCER LEAGUE. 
          SO THE PROFESSIONAL SOCCER LEAGUE IS CALLED THE UNITED SOCCER LEAGUE OR USL FOR SHORT. 
          AND THERE'S A CHART OF ALL THE DIFFERENT LEAGUES THEY HAVE, UH, THE USL SUPER LEAGUE, THEY ACTUALLY KICKED OFF THIS SEASON. 
          THE WOMEN'S TEAM PLAYS AT THE COTTON BOWL. 
          THEY'RE CALLED DALLAS TRINITY. 
          UH, THE MEN'S LEAGUE, THE HIGHEST DIVISION OF THE MEN'S LEAGUE IS THE USL CHAMPIONSHIP. 
          AND THAT IS WHO WE HAVE CURRENTLY BEEN IN NEGOTIATIONS WITH TO BRING A TEAM TO GARLAND. 
          THEY CURRENTLY, RIGHT NOW HAVE 24 CLUBS, WOULD HAVE PLANS TO EXPAND TO 36, AND THEY HAVE, YOU KNOW, REPRESENTATION OVER HALF OF THE 60 MSA MARKETS, THEY PLAY ABOUT 34 GAMES A YEAR. 
          ROUGHLY HALF OF THOSE AT HOME AT GARLAND. 
          THE REST OF THE TIME THE, UH, THE STADIUM WOULD BE ACTIVATED FOR OTHER EVENTS, CONCERTS, COMMUNITY EVENTS, UM, AND THEN OBVIOUSLY DOWN THE ROAD WE WOULD LOOK TO WANT TO EXPAND AND MAYBE PICK UP ANOTHER USL TEAM. 
          BUT AS OF RIGHT NOW IT WOULD BE USL CHAMPION TEAM. 
          I HAVE QUESTION, IS THIS SIMILAR TO THE TOYOTA STADIUM IN FRISCO? WOULD IT IT WOULD NOT BE THAT LARGE. 
          THAT'S A FAIRLY LARGE STADIUM. 
          THIS STADIUM THAT WE'RE CONTEMPLATING ONCE I GET INTO THE ACTUAL PROJECT, A 7,000 SEAT STADIUM, MORE LIKE FC DALLAS STADIUM THEN, SO WELL, SO THAT, THAT FC DALLAS IS EXPANDING TO 20,000. 
          THEY, WHEN THEY STARTED THEY WERE BETWEEN 10 AND 15. 
          I CAN'T REMEMBER. 
          SO THEY, THEY'RE THE MLS AND THEN, AND THEN THAT'S UNDER THE UMBRELLA OF U-S-U-S-A SOCCER, WHICH IS AN ENORMOUS ORGANIZATION. 
          AND SO, UH, USL IS A COMPONENT OF USA SOCCER AS WELL AS MLS AND ALL THE, ALL THE WAY DOWN TO THE YOUTH ACADEMY COMPONENTS IS AND WOMEN'S SOCCER NOW TOO. 
          SO IT'S, IT'S A LARGE ORGANIZATION WITH MULTIPLE LEAGUES. 
          AND SO MLS IS WHAT IS FC DALLAS. 
          YEAH. 
          SOCCER IS A KIND OF UNIQUE, ESPECIALLY FOR AMERICANS. 
          'CAUSE WE USUALLY JUST TEND TO THINK, YOU KNOW, MAJOR LEAGUE BASEBALL, MINOR LEAGUE BASEBALL AND, AND SOCCER BECAUSE IT, 'CAUSE IT'S ROOTED IN EUROPE AND IN SOUTH AMERICA TYPICALLY THERE'S LIKE A, A BRACKETING STRUCTURE WHERE TEAMS SAY IF YOU WERE A MINOR LEAGUE TEAM IN FRISCO, YOU COULD HAVE THE OPPORTUNITY TO MOVE UP TO MAJOR LEAGUE BASEBALL. 
          YOU COULD HAVE THE OPPORTUNITY TO MOVE UP IF YOU WERE WINNING. 
          AND THAT'S KIND OF THE MODEL THAT SOCCER'S BUILT OFF OF. 
          SO IT'S KIND OF UNIQUE TO AMERICANS 'CAUSE IT'S A LITTLE DIFFERENT. 
          YEAH. 
          TO UNDERSTAND TED , WOULD THAT FIELD BE USED FOR ANYTHING ELSE BESIDES THE SOCCER? YEAH, SO I MEAN WE WOULD WANT IT ACTIVATED AS MUCH AS POSSIBLE. 
          'CAUSE THE MORE PEOPLE, THE WHOLE POINT OF EVEN CONTEMPLATING THIS IS TO DRIVE PEOPLE INTO GARLAND. 
          SO THE MORE IT IS ACTIVATED, THE BETTER. 
          YEAH. 
          IT'S MORE THAN JUST THE SOCCER COMPONENT. 
          THAT'S, THAT'S SOMETHING THAT WE THINK IS IMPORTANT TO RALLY, YOU KNOW, COMMUNITY PRIDE AROUND SOMETHING. 
          YOU KNOW, EVERYBODY RALLIES AROUND A TEAM, PARTICULARLY IF IT'S YOUR HOMETOWN. 
          UM, BUT AT THE SAME TIME, UM, WE WANNA SEE CONCERTS, OTHER SPECIAL EVENTS, OTHER GATHERINGS THAT CAN BE ACTIVATED, UM, IN THIS SPACE YEAR ROUND. 
          SO THIS COULD POSSIBLY BE RETROFITTED FOR LIKE FOR FOOTBALL. 
          THIS WILL BE SOCCER ONLY SOCCER, YEAH. 
          YEAH. 
          GENERALLY THE, THE CHALLENGE WITH PUTTING FOOTBALL, UM, ON A SOCCER FIELD IS PARTICULARLY IN THE SAME SEASON, IS THE DAMAGE THAT, YOU KNOW, YOU, YOU WATCH ANY FOOTBALL GAME AND ALL THE DAMAGES IN BETWEEN THE HASH MARKS, THAT'S NOT REAL CONDUCIVE TO SAFE SOCCER PLAY. 
          UM, IN THE FIELD, SOCCER FIELDS ARE, ARE LARGER BY, BY QUITE A BIT. 
          AND SO GENERALLY WHEN IT'S A SOCCER SPECIFIC STADIUM, IT'S REAL DIFFICULT TO BRING A FOOTBALL TEAM IN. 
          NOW THERE IS CONTEMPLATED ANOTHER, ANOTHER FIELD, UM, THAT WOULD BE, UH, ARTIFICIAL TURF THAT WE HAVE VISITED WITH SCHOOL DISTRICT AND OTHER GROUPS THAT THEY WOULD BE ABLE TO PUT THEIR TEAMS ON, UM, TO HELP WITH SOME OF THEIR, AS WE KNOW, SOME OF THEIR SCHEDULING CHALLENGES THAT THEY HAVE. 
          SO THERE IS A PROVISION FOR OTHER, OTHER WAYS TO DO THAT. 
          AND THIS HESKA, THIS IS GONNA HAVE THE CONCESSION STANDS AND, UH, ALL OF THAT. 
          OKAY. 
          SUITES. 
          YEP, SUITES. 
          OKAY. 
          MATT, IF 
          [00:40:01]
I, I JUST ADD TO THE DEMOGRAPHICS YOU HIT ON THE PREVIOUS, UH, SCREEN. 
          WE HAVE A SIGNIFICANT VIETNAMESE COMMUNITY ALSO. 
          CORRECT. 
          AND THEY'RE ALSO BIG SUCKER FANS. 
          MATTER OF FACT, THEY ALREADY HAVE THEIR OWN SUCKER TOURNAMENTS GOING ON HERE IN GARLAND. 
          SO THAT'S SOMETHING ELSE THAT WE CAN CAPITALIZE ON. 
          AND THEY'RE PART OF IT. 
          WE, WE ARE THE, WE FACILITATE THOSE THAT TOURNAMENT, UM, AT, AT WINTERS PARK WITH THEM. 
          AND THEY'RE A GREAT PARTNER AND ALWAYS HAVE BEEN. 
          MATTER OF FACT, THE VIETNAMESE COMMUNITY GOES ALL THE WAY BACK TO THE BEGINNING OF THE GARLAND SOCCER ASSOCIATION IN THE SEVENTIES. 
          THEY, THEY WERE, UH, INVOLVED IN THAT AS A LOT OF PEOPLE MAY NOT KNOW, BUT, SO NO, BETWEEN THE, THE HISPANIC POPULATION AND THE, AND THE ASIAN POPULATION WE'RE, WE'RE WELL INTO 60 SOMETHING PERCENT OF OUR CONSTITUENCY ARE, ARE LIKELY TO BE SOCCER FANS. 
          AND THAT'S, AND THAT'S VERY INTRIGUING TO THE TEAM. 
          THE TEAM KNOWS THAT. 
          KIND OF AN INTERESTING THING ABOUT THE GARLAND SOCCER ASSOCIATION TOO. 
          I DON'T, I DON'T, I HAVEN'T RESEARCHED TO SEE IF THIS IS TRUE, BUT I WAS TOLD BY THE BY USL THAT, THAT, THAT IS THE OLDEST ACTIVE RUNNING ASSOCIATION IN TEXAS. 
          I I BELIEVE IT. 
          I GO THAT FAR BACK WITH 'EM ALL. 
          MM-HMM . 
          DO WE THINK THAT BEING SOCCER TOURNAMENT WOULD MOVE TO THIS FACILITY EVENTUALLY? OH, I WOULD THINK SO. 
          I MEAN, WE WANNA ELEVATE AND, AND THAT WOULD BE, SO THAT'S THE IDEA OF SOME OF THE ADDITIONAL FIELDS AROUND THE STADIUM, UH, IS THAT THOSE BECOME ACTIVATED WITH TOURNAMENTS. 
          THAT'S AN ECONOMIC, I MEAN THAT WAS KIND OF THE, THE ANCILLARY SIDE OF THIS. 
          UM, YOU KNOW, IT, IT'S REALLY A PROFESSIONAL AND YOUTH SOCCER, UH, COMPLEX. 
          IT'S, IT'S ALL RELATED. 
          AND THAT'S THE GREAT THING ABOUT SOCCER IS, IS THAT WE WANNA BE ABLE TO PROVIDE, UM, SOMETHING THAT, YOU KNOW, KIDS THAT START OUT AT A YOUNG AGE CAN MATRICULATE THROUGH A SYSTEM AS FAR AS THEIR TALENT WILL TAKE 'EM. 
          PARKING'S, PARKING'S PROBABLY BECOMING A CHALLENGE AT WINTERS PARK TOO, ISN'T IT, FOR THE SOCCER? I THINK IT'S A CHALLENGE EVERYWHERE. 
          , BUT YEAH, FOR SURE. 
          AND IT, AND IT'S A, YEAH, IT WOULD BE AN ADDITIONAL, UM, LEVEL OF PLAY IN, IN THE ACADEMY. 
          IT'S ACTUALLY THROUGH THE, CORRECT ME IF I'M WRONG, IT'S THE E-C-L-E-C-N-L. 
          IT'S KIND OF THE, UH, AN ELITE LEVEL THAT, THAT WE DON'T HAVE RIGHT NOW. 
          SO YOU CAN PROVIDE THAT RECREATIONAL, COMPETITIVE AND ACADEMY ELITE LEVEL, UH, BASED ON THE KIDS' TALENT IN, IN REGARDS TO PUBLIC TRANSPORTATION, IS THERE ANY GONNA BE ANY OPTIONS OR VIABLE OPTIONS TO GO TO AND FROM USING, USING DART? NOT AT THIS TIME THAT THAT'S NOT PART OF THEIR ONE. 
          IT'S NOT NEAR ONE OF THEIR STANDARD ROUTES. 
          IT DOESN'T MEAN THAT WE HAVEN'T HAD SOME CONVERSATION ABOUT MAYBE SOME GAME DAY EXPRESS ROUTES, BUT WE HAVEN'T GOTTEN THAT FAR WITH IT. 
          UM, THERE THERE'S GONNA BE A A, AT THIS POINT WE BELIEVE IT'S GONNA BE ADEQUATE SURFACE PARKING AROUND THE SOCCER COMPLEX. 
          UM, BUT THERE'S NOT, THERE'S NOT A ROUTE PLANNED AT THIS TIME WITH DART, JUST TO CLARIFY, , IT CAN BE UTILIZED FOR OTHER, UH, NON SOCCER, UM, GAMES, RIGHT? LIKE ARE YOU TALKING ABOUT THE PRIMARY STADIUM? NOT THE STADIUM, BUT MAYBE LIKE THE YOUTH, UM, SOCCER AREA THAT YOU STATED THAT THEY WERE GONNA BE HAVING SOME YOUTH SO THEY IT COULD AND AND, AND IT BECOMES, THEN IT BECOMES KIND OF A MANAGEMENT PRACTICE OF, OKAY, WE GOTTA KEEP 'EM IN A HIGH ENOUGH QUALITY SO THAT THEY'RE NOT OUT OF COMMISSION RUN AVAILABLE. 
          SO WE, LIKE, FOR EXAMPLE, AT WINNERS AND AUDUBON, WE, WE MIGHT RECRUIT, UH, LACROSSE TOURNAMENTS, WE MIGHT RE RECRUIT SEVERAL THINGS THAT ARE APPROPRIATE THAT THE, THE LAST THING WE'D PROBABLY WANNA DO IS FOOTBALL. 
          BUT THAT, THAT MEANS THERE'S PROBABLY A DOZEN OTHER THINGS THAT WE COULD PUT ON IT. 
          SO IT, IT IS INTENDED TO BE, UM, THE ACADEMY FIELDS AND THE STADIUM TO BE MULTI-USE AS MUCH AS POSSIBLE. 
          I WAS THINKING MORE OF A CRICKET, YOU KNOW, THEY'RE NOT BIG ENOUGH FOR CRICKET. 
          CRICKET FIELD CRICKET PITCHES ARE AS, YOU KNOW, ENORMOUS  AND SO THEY, NO, THEY, THEY ARE LIKE THREE SOCCER FIELDS AND IN ORDER TO MAKE THAT, THAT PROPERTY IS SLOPED IN A WAY THAT IT WOULD BE VERY DIFFICULT 'CAUSE THEY'RE GONNA END UP PROBABLY BEING SLIGHTLY TERRACED IN ORDER TO DRAIN ALSO AN ENORMOUSLY POPULAR SPORT. 
          MM-HMM . 
          I WAS GONNA SAY THAT AREA IS GREAT FOR CRICKET. 
          YEAH. 
          LIKE NORTH, NORTH ROAD BECAUSE LIKE, LET US, YEAH, , UH, JUST REAL QUICK IN AN INTRODUCTION TO THE TEAM OWNERSHIP GROUP, UH, WHO OWNS USL DALLAS? UM, IT'S, UH, THE CO-FOUNDERS ARE MATT VALENTINE, WHO'S HAS SPENT MOST OF HIS TIME IN THE CORPORATE WORLD AND, YOU KNOW, DOING INVESTMENTS IN CAPITAL MARKETS. 
          HE, HE'LL LEAD THE CLUB STRATEGIC DIRECTION. 
          UH, HIS PARTNER IN THIS IS SAM MORTON, WHO'S A FORMER RADIO EXECUTIVE WHO WILL HANDLE ALL THINGS MARKETING, COMMUNICATION, SPONSORSHIPS. 
          AND THE, THE OTHER TWO OWNERSHIP GROUP PARTNERS IN WITHIN THIS ARE LUTHER, OT AND DAN MCCULLEN. 
          SO THEY ARE THE FRANCHISE 
          [00:45:01]
OWNERS OF THE USL TEAM. 
          SO YESTERDAY IT WAS ANNOUNCED THAT THEY, THEY WERE GONNA HAVE THEIR CORPORATE HOUSING OVER THERE TOO, RIGHT? NO. 
          CORRECT. 
          THEIR HEADQUARTERS WILL BE THERE AND I'LL GET TO THE, SOME RENDERINGS OF IT THAT OF POSSIBILITIES. 
          THAT WILL BE, YES. 
          THEIR HEADQUARTERS WILL BE AT THE SITE. 
          THEY HAVE TO HOLD ON. 
          SO REAL QUICK, HERE'S THE, UH, SITE THAT WE ARE CONTEMPLATING FOR THIS. 
          AND YOU CAN SEE THERE'S GEORGE BUSH. 
          THE PICTURE ON THE LEFT IS, YOU KNOW, KIND OF A ZOOMED OUT LOOK AT WHERE THIS SITE IS WITH THE USL DALLAS. 
          GO RIGHT THERE NEXT TO THE SPRING CREEK RESERVE OFF FER ROAD AND UH, THE GEORGE BUSH TURNPIKE. 
          AND THEN I'VE GOT A ZOOMED IN, UH, GOOGLE MAPS IMAGERY OF WHAT THE SITE LOOKS LIKE RIGHT NOW. 
          UH, THE SITE IS 64 ACRES, SO IT GOES ALL THE WAY BACK TO REALLY, UH, CUT SOME OF IT OFF BACK RIGHT HERE INTO THE TREES. 
          AND UH, THE INTERESTING THING ABOUT THIS SITE IS 50 ACRES OF IT ARE, ARE UNDERNEATH A CONSERVATION EASEMENT. 
          AND WHAT THAT MEANS IS IT CANNOT BE DEVELOPED FOR ANY COMMERCIAL USE. 
          UH, WHAT IT CAN BE DEVELOPED FOR IS RECREATIONAL USE, INCLUDING ATHLETIC FIELDS AND ASSOCIATED TRAINING AND SPEC SPECTATING FACILITIES. 
          SO THIS PIECE OF PROPERTY IS UNIQUE, VERY UNIQUE AND CAN ONLY BE USED FOR SPECIFIC THINGS SUCH AS A USE SOCCER COMPLEX. 
          SO THERE IS 14 ACRES, BASICALLY LIKE A LITTLE L HERE THAT IS NOT UNDER THE CONSERVATION EASEMENT THAT IS CALLED THE RESERVE TRACT THAT COULD BE SOLD OFF TO BASICALLY FUND THE FARM THAT IS ON THE NORTH SIDE OF GEORGE BUSH. 
          SO THIS IS THE OLD DAY FARM. 
          SHE PUT THE ENTIRE THING UNDER A CONSERVATION EASEMENT WHEN SHE PASSED AWAY. 
          AND WE'VE BEEN NEGOTIATING WITH THE CURRENT TRUST AND HAVE CLOSED ON THE, THIS PORTION OF THE LAND TO AMEND THE CONSERVATION EASEMENT FOR THIS PORTION OF THE LAND TO ALLOW FOR RECREATIONAL USE AS WELL AS HAVE THAT 14 ACRE TRACT FOR COMMERCIAL USE. 
          SO TO GET INTO, AND AGAIN, THIS IS JUST RIGHT NOW A CURRENT DRAFT OF, YOU KNOW, THE QUESTION WAS ASKED, HOW IS ALL THIS GONNA FIT IN? SO THAT WAS OF COURSE THE FIRST THING WE WERE LOOKING TO DO. 
          SO THIS IS A FIR THE FIRST KIND OF CONCEPT OF WHAT WE'RE TALKING ABOUT. 
          UH, YOU CAN SEE THE AREAS IN RED ARE THAT RES RESERVE TRACK THAT 14 ACRES THAT CAN BE DEVELOPED FOR COMMERCIAL USE. 
          AND YOU CAN SEE THAT THERE IS A STADIUM, THE TEAMS HEADQUARTERS, UH, THE LITTLE ORANGE SQUARE ABOVE THAT IS RIGHT NOW A CONCEPT OF MAYBE A HOTEL WITH FLANK BY RESIDENTIAL MULTIFAMILY AND OTHER COMMERCIAL DEVELOPMENT ALONG THERE. 
          HOWEVER, RIGHT NOW WE'RE GONNA BE WORKING WITH, UM, SOME PRIVATE DEVELOPERS AND COMING UP WITH A CONCEPT PLAN FOR WHAT EXACTLY CAN GO THERE, WHAT CAN THE MARKET BEAR, WHAT IS THE APPROPRIATE THINGS TO GO THERE. 
          THIS WAS JUST THE CONCEPTS EARLY ON. 
          UH, YOU CAN SEE THAT THERE'S A LITTLE PLAZA AREA AS WELL AS WHAT'S CALLED SAL, WHICH IS UH, FOR PEOPLE THAT AREN'T BIG SOCCER FANS LIKE ME, THIS TINY SOCCER , UH, THAT FLANK IT FOR AROUND THE PLAZA WITH UH, UH, ANDY ALLUDED TO THIS EARLIER, A SHOW PITCH, WHICH WILL MORE THAN LIKELY BE ARTIFICIAL TURF, WHICH WILL ALLOW IT TO HAVE MANY OTHER USES OUTSIDE OF SOCCER WITH THE OTHER FIVE BEING, YOU KNOW, EITHER SOME SORT OF HYBRID OR NATURAL GRASS FOR THE ACADEMY AND ALSO FOR THIS PRO TEAMS USED FOR PRACTICES. 
          UH, RIGHT NOW IN THE CONCEPT THERE'S THIS DESIGN OF A, THIS SHOWING A LOT OF PARKING THAT'S THAT MORE THAN LIKELY WILL BE STATE TO BE TREES. 
          WE'LL PROBABLY TAKE OUT THE BAD TREES AND PUT THE GOOD TREES IN. 
          HE CAN PROBABLY SAY IT MORE ELEGANT COMING FROM THE PARKS DEPARTMENT, BUT PUTTING, UH, THE TREES THAT AREN'T SO INVASIVE AND REALLY MAKING IT A, YOU KNOW, KIND OF A WALKING TRAIL AND, AND AND CONNECTIVITY INTO THE SPRING CREEK PRESERVE. 
          UM, OTHER THINGS TO POINT OUT, UH, CONTEMPLATED WITHIN THIS DESIGN IS A HORFORD ROAD IMPROVEMENTS. 
          'CAUSE OBVIOUSLY WE GOTTA GET TRAFFIC IN AND OUT OFF OF GEORGE BUSH AS WELL AS AN EXTENSION OF NAMAN FOREST, WHICH RIGHT NOW DEAD ENDS, RIGHT? A YOU KNOW, RIGHT BEHIND I GUESS THAT IS LA FITNESS, BRINGING THAT ALL THE WAY ACROSS TO CONNECT TO HOLFORD. 
          [00:50:02]
UH, WHAT ABOUT ARAPAHOE ROAD? SO THE TRAFFIC WOULD COME IN THROUGH THE HOLFORD? YEAH, THE INTENT IS RIGHT NOW BASED OFF OF OUR TRAFFIC STUDY, ARAPAHOE ROAD AND HOLFORD, THE INTENT IS TO PUSH TRAFFIC BACK OUT TO GEORGE BUSH OR OVER THROUGH NAMAN, OVER TO GARLAND ROAD. 
          SO RIGHT NOW, BASED OFF OF OUR STUDIES, WE'RE NOT ANTICIPATING ARAPAHOE TO SEE THE OVERFLOW. 
          ISN'T THAT PORTION OF HOLFORD EVENTUALLY GONNA BE REDONE ANYWAY? WELL, I MEAN NEEDS, THEY'VE BEEN TALKING EVERYTHING EVENTUALLY IS GOING TO BE REDONE . 
          HOW, HOW MUCH OF HALFORD'S GONNA BE REDONE ON THIS PROJECT? NOT EVEN BASICALLY FROM FROM ABOUT THE DRIVEWAY OF SPRING CREEK PRESERVE THIS WAY. 
          AND THEN NAME AND FOREST IS DISCONNECTION RIGHT HERE AS WE HAVE THE SAME FLOODING PROBLEM ON THAT STREET AS WE DO ON THIS. 
          YEAH, BUT IF THEY'RE PUSHING THEM BACK TOWARDS GEORGE BUSH, RIGHT, THE THE TRAFFIC COUNTS RIGHT NOW AREN'T, AREN'T, IT'S, IT'S PASSED THROUGH TRAFFIC. 
          IT'S NOT SIGNIFICANT. 
          SO FROM A EFFICIENCY STANDPOINT AND WHICH ROADS TO IMPROVE, THIS IS WHAT MAKES THE MOST SENSE. 
          YOU'LL, YOU'LL BE ABLE TO MOVE CARS OUT AND IF YOU'RE LOCATIONS MUCH FASTER, IF YOU'RE FAMILIAR WITH THE AREA, THE NAME AND SCHOOL EXTENSION, THERE'S CREDIT UNION OF TEXAS TWO APARTMENT COMPLEXES AND THEN LIFETIME FITNESS DOWN HERE BELOW WHERE IT CURRENTLY ENDS NORTH. 
          AND YEAH, THEY'LL BE ABLE TO GO, YOU GOT TWO WAYS OUT, THREE, THREE WAYS, BUT ONLY THE LOCALS KNOW THE THIRD WAY DOWN THE OTHER WAY. 
          BUT WE WANT TO, PD WOULD LIKELY PUSH ON THOSE TWO DIRECTIONS. 
          THAT WAS THE FIRST THING THAT POPPED IN MY MIND WAS WHATCHA GONNA DO WITH HARVARD ROAD. 
          SO THE OTHER CHART IS THE CONTEMPLATED BUDGET FOR ALL THIS. 
          SO THE, THE LAND ACQUISITION THE CITY PURCHASED UH, 64 ACRES FOR 10.8 MILLION UTILIZING THE 2019 BOND PROGRAM. 
          ALSO WITHIN THE 2019 BOND PROGRAM WAS WE WILL BE UTILIZING THOSE FUNDS FOR THE NAME AND FOREST EXTENSION, HOLFORD IMPROVEMENTS, WHICH IS 26 MILLION. 
          AND THEN WHEN WE GET INTO THE STADIUM, THIS IS THE PIECE THAT UH, WE ARE CONTEMPLATING TONIGHT. 
          UH, FOR TIF NUMBER THREE, THE PROPOSAL IS UH, PROVIDING $43 MILLION, $4 MILLION OF A CASH WITH 38.9 MILLION BEING TIFF REVENUE BONDS. 
          THE UTILITY PORTION OF THIS PROJECT WILL BE PAID BY THE UTILITY FUNDS. 
          SO THE TOTAL STADIUM BUDGET IS 50 MILLION. 
          THE YOUTH AND RECREATION FACILITY. 
          SO ALL THE OTHER SOCCER FACILITIES, THE SIX SOCCER FACILITIES, THE PLAZA, THE PARKING WILL BE PAID FROM OUR CAPITAL IMPROVEMENT PROGRAM OR A AS AN AMENDMENT WHICH IS 25 MILLION, WHICH WE WOULD BE ISSUING CERTIFICATES OF OBLIGATION AS WE TYPICALLY DO NO TAX RATE INCREASE ASSOCIATED WITH THAT AS WELL OR ANY OF THIS. 
          BUT WE DID WANT TO PROVIDE THE TOTAL PROPOSED BUDGET FOR ALL THIS, UH, ROADWAYS, UH, PARKING STADIUM 111.8 AND OF COURSE WE WON'T BE CONSTRUCTING ANY OF THE HOTELS OR MIXED USE OR RESIDENTIAL THAT WOULD BE A DEVELOPER'S OPPORTUNITY AND WE'LL BE LOOKING, UH, TO ENGAGE WITH THEM SHORTLY. 
          ONE QUESTION, DID USL PROVIDE ANYTHING FOR THAT LAND AREA? NO. 
          IN TERMS OF, SO NOT AT THIS POINT, BUT THERE IS A SEPARATE CONVERSATION ABOUT HOW TO DEAL WITH THE OTHER 14 ACRES. 
          THAT'S A GONNA BE A SEPARATE AGREEMENT. 
          CURRENTLY WHERE WE STAND IN AND WHAT IS NOT MENTIONED HERE IS WE ARE CURRENTLY IN NEGOTIATIONS WITH THE TEAM. 
          I SHOULDN'T JUST SAY NO ABOUT LEASE PAYMENTS, ABOUT CAPITAL IMPROVEMENT PLANS. 
          SO, UH, WE'RE IN NEGOTIATIONS AND I CAN SAY THIS, THAT THE, THE HIGHEST USL TEAM LEASE IS ABOUT $400,000. 
          THEY WILL BE WAY NORTH OF THAT. 
          AND THEY'VE AG AGREED CONCEPTUALLY TO A MUCH HIGHER NUMBER THAN THAT BECAUSE WE ARE FUNDING THE ENTIRE STADIUM. 
          AND THEY HAVE ALSO AGREED TO THIS CONCEPT OF HAVING WHAT WE ARE CALLING A CAPITAL RESERVE, WHICH WOULD AND WOULD BE OWNED BY THE CITY, WHICH WOULD MEAN THAT THEY WOULD NEED TO PUT MONEY IN TO THIS RESERVE FOR NOT JUST ROUTINE MAINTENANCE. 
          THAT'S NOT WHAT THIS IS, BUT HVAC SYSTEMS GO OUT, THAT TURF WILL HAVE TO BE REPLACED MORE THAN LIKELY IN THREE YEARS. 
          WE DON'T WANT THE CITY ON THE HOOK FOR MAJOR IMPROVEMENTS, SO THEY WOULD NEED TO PUT INTO THAT CAPITAL RESERVE. 
          SO I SHOULDN'T HAVE JUST SAID NO, I WAS, I WAS THINKING THE LAND PURCHASED, THE LAND PURCHASED THE CITY DID BECAUSE WE'D WANTED TO BUY THE LAND REGARDLESS OF THIS BECAUSE IT WAS JUST, IT'S JUST PROBABLY THE ONE GREEN SPACE AND GARLAND IS PRECIOUS. 
          AND TWO, TO BUY SOMETHING AND GET IT A USE OUT 
          [00:55:01]
OF IT THAT HAS A CONSERVATION EASEMENT, WE NEEDED TO GET A HOLD OF THIS LAND FOR ECONOMIC DEVELOPMENT. 
          IT'S JUST THAT THIS PROJECT SEEMS TO FIT VERY NICELY INTO WHAT IS ALLOWED ON THAT PROPERTY. 
          DO WE GET ANY FUNDING FROM THEIR TICKET SALE OR ANYTHING? THEY WILL RECEIVE ALL THE TICKET SALES. 
          WE, RIGHT NOW OUR CONCEPT IS TO HAVE A HIGH LEASE PAYMENT AND HAVE THEM PUT MONEY FOR THE IMPROVEMENTS. 
          'CAUSE WE WANT IT TO BE A NICE SOCCER STADIUM, LONG TERM, TAKING PORTIONS OF THEIR REVENUE. 
          UH, WILL, YOU KNOW, THAT WILL EBB AND FLOW UP AND DOWN. 
          WE'RE LOOKING TO COVER FIXED COSTS WITH THIS ONGOING PAYMENTS SIMPLER, MORE RELIABLE. 
          AND ONE PORTION OF THIS THAT HASN'T BEEN MENTIONED YET WOULD ALSO BE SALES TAX, CORRECT? THERE WILL BE HOTEL REVENUE, HOPEFULLY FOOD AND BEVERAGE, FOOD AND BEVERAGE SALES TAX, ELECTRIC TICKETS, ELECTRICITY. 
          SO I SEE THAT, I SEE MR. PERRY HERE. 
          I'M GONNA, I'M JUST, MATT WAS TALKING ABOUT THE, UH, THAT L SHAPE PORTION WHERE WE TRYING TO ATTRACT HOTELS AND RESTAURANTS. 
          HERE'S MY QUESTION. 
          ARE WE, IS THERE ANY, ANY TYPE OF, ARE WE PROPOSING AN INCENTIVE PACKAGE FOR THESE HOTELS AND RESTAURANTS TO BE IN THAT, THAT L-SHAPED CORRIDOR? RIGHT NOW, THE MAJOR INCENTIVE THAT WE HAVE IS WE OWN THE LAND AND THERE'LL BE NEXT TO A STADIUM AND THERE'LL BE NEXT TO A STADIUM. 
          HERE'S ON CHANGED OUT ROADWAYS AND THERE WILL BE TRAFFIC OF 8,000 FAMILIES THERE AND FRONTAGE ON ONE 90. 
          I'M, I'M WITH YOU. 
          I'M JUST TRYING TO KEEP A TAB ON THESE INCENTIVES. 
          NO, I GOT YOU. 
          THE TEAL IS SET. 
          THE TEAL IS SET AT 18. 
          I'M JUST TRYING TO SEE IF IT'S GONNA GO HIGHER IN, IN REGARDS TO THESE OTHER POTENTIAL VENUES. 
          THAT'S, THAT'S ALL I'M TRYING TO KEEP TAB UP. 
          OKAY. 
          ALRIGHT. 
          ALL RIGHT. 
          EXCUSE. 
          I WAS THERE TALKING TO MATT LAST NIGHT AND ABOUT THE NAMING AND SO WE DON'T KNOW WHOSE NAME, BUT IT COULD BE A, UH, I TOLD HIM TO BE SURE AND KEEP SOME OF OUR LOCAL COMPANIES IN MIND WHEN THEY STARTED LOOKING. 
          SO IF YOU GUYS HAVE ANYTHING TO DO WITH THAT, I MEAN, AND I'M GONNA ASK A QUESTION ON NAMING, WILL THIS BE A DALLAS NAMED TEAM? IS THIS A GARLAND NAMED TEAM? WHAT, WHAT'S THEIR MONIKER GONNA BE? BECAUSE WE, WE HAVE THE DALLAS COWBOYS WHO PLAY IN ARLINGTON. 
          HECK WHAT? THAT'S JERRY'S TEAM. 
          THAT'S WHAT IT IS. 
          THERE WILL BE, THERE WILL BE SOME, UH, IT, IT'S, IT'S A, THE TEAM NAME HAS NOT BEEN REVEALED YET. 
          THEY'RE GONNA DO THAT, UH, IN MAY. 
          AND SO THEY'RE TRYING TO KIND OF RELEASE AND BUILD THEIR FAN BASE IN, IN A GRASSROOTS FASHION. 
          BUT UH, YES, IT IS ABSOLUTELY THE, NOT THE ARLINGTON COWBOYS AND IT'LL BE, BECAUSE IT'S SUCH A LARGE MARKET, THERE'S A REASON FOR THAT. 
          BUT THEY'LL STILL BE GARLAND MENTIONED IN PLACES THAT WE WILL BE ABLE TO KIND OF DICTATE. 
          UH, BUT THAT'S THE OFFICIAL, BEFORE THE FULL NAME IS RELEASED, IT'S THE USL DALLAS TERRITORY FOR THE, FOR THE TEAM, FOR THAT TERRITORY. 
          IT'S AFTER THE BOND IS , THE, THE THE ACTUAL NAME OF THE TEAM, LIKE AT AND T STADIUM OR WHATEVER. 
          SO THE, SO WE HAVE PROVIDED, THE YOKO'S TEAM HAS PROVIDED, DID SOME HOMEWORK AND LOOKED AT AND PROVIDING THEM A, A LOCAL LIST OF POTENTIAL SPONSORS. 
          UM, WHETHER THAT INCLUDES, YOU KNOW, ALL THE WAY FROM NAMING RIGHTS ALL THE WAY TO SELLING. 
          I MEAN IF YOU THINK ABOUT IT, EVERY, EVERY STADIUM, EVERY PIECE OF REAL ESTATE'S FOR SALE. 
          AND SO THAT'S THE IDEA TO KEEP THAT TEAM, UM, INVIGORATED FINANCIALLY OVER TIME IS TO, AND WE PROVIDED A PRETTY GOOD LIST OF, OF WHO THOSE POTENTIAL FOLKS ARE THAT THEY COULD CALL ON THE GPNL GRENADES OR SOMETHING. 
          I DON'T KNOW. 
           GARLAND POWER AND LA LIGA . 
          OKAY. 
          I WOULD SAY WE OWN, WE'LL OWN THE STADIUM THOUGH, RIGHT? SO IT'S NOT, I MEAN IF THERE'S NAMING RIGHTS OR ANYTHING LIKE THAT, THE PAYMENTS WOULD COME TO THE CITY. 
          SO AGAIN, THE, THE BULK OF THE, OF THAT IS THAT THE STABILITY OF THE, OF THE LEASE PAYMENT AND THE CAPITAL FUND IS ACTUALLY RIGHT. 
          MORE BENEFICIAL TO US THAN BEING BEHOLDEN TO WHETHER THEY HAVE A GOOD YEAR OR A BAD YEAR. 
          SO THOSE, ALL THOSE TYPES OF REVENUE SOURCES LIKELY STAY WITH THE TEAM IN SOME FASHION. 
          AND, AND THE LEASE PAYMENT IS WHAT WE CAN COUNT ON EVERY OH, I SEE. 
          EVERY YEAR. 
          IS THAT, DOES THAT ANSWER YOUR QUESTION? I THINK SO. 
          SO, SO IT WOULDN'T, YOU WOULD ALLOW THEM THAT TO NEGOTIATE SOMETHING LIKE THAT EVEN THOUGH THEY DON'T OWN THE STADIUM? RIGHT. 
          AND THAT'S, UH, TYPICAL OF, WE HAVE DONE A LOT OF RESEARCH ON NOT JUST USL BUT ALL STADIUMS. IT'S TYPICAL FOR THE TEAM TO RETAIN THOSE, THOSE DOLLARS. 
          UM, WHAT IS ATYPICAL HERE IS MOST TEAMS WILL PROVIDE SOME UPFRONT 
          [01:00:01]
CAPITAL INTO IT, BUT USUALLY THEY WILL GET LIKE A PREPAID LEASE IN RETURN. 
          WHAT WE ARE SAYING IS WE CAN GET A LOW COST OF BORROWING, WE'LL CONSTRUCT THE ENTIRE STADIUM, BUT YOU ARE GONNA PAY US A MUCH LARGER LEASE. 
          SO THAT'S THE ROUTE WE WE'RE GOING RIGHT NOW. 
          RIGHT, OKAY. 
          AND THAT'S HOW THEY'RE GONNA, AND THAT'S HOW THEY'RE GONNA PAY US BY RENTING SIGNS AND CORRECT AT AND T WHATEVER NAME WE'LL GET IT BACK ONE WAY OR THE OTHER, GET THEIR MONEY FROM RIGHT. 
          AND THE GREAT PART OF, WE WILL HAVE TO WORK HARDER THAN WE WILL , BUT WE WOULD JUST, FROM THE CITY WHENEVER THEY DOT THE I'S ACROSS THE T AND THE AGREEMENT HAVE A LEASE PAYMENT. 
          RIGHT NOW IT'S CONTEMPLATED 20 YEARS WITH A SET AMOUNT WHICH WILL INFLATE WITH INFLATION TWO PER, I THINK WE'RE USING 2.5%. 
          BUT HAVING THAT SET AMOUNT IN PAPER, YOU'VE SIGNED IT RATHER THAN RELYING ON ARE THEY HAVING A GOOD YEAR OR A BAD YEAR. 
          IT'S NOT, NOT UP TO US TO LEASE SIGNS INSIDE THE STADIUM. 
          IT'S CORRECT. 
          CORRECT. 
          THAT'S THEIR EITHER GOOD OR BAD POINT. 
          YEAH. 
          THE LEASE IS FOR HOW MANY YEARS? RIGHT NOW? IT'S CONTEMPLATED AT 20. 
          UH, AGAIN, THAT'S JUST, WE'RE, WE'RE STILL IN NEGOTIATIONS, BUT THAT'S KIND OF THE GENTLEMAN'S HANDSHAKE, IF YOU WILL. 
          WELL, OUR, WELL, OUR, HERE'S THE, WILL OUR DEBT OBLIGATION BE FULFILLED, SATISFIED WHEN THE, WHEN THE LEASE IS, WHEN THE LEASE IS UP. 
          SO IF THEY VACATE IN 20, WHATEVER HAPPENS, THEIR LEASE IS UP. 
          WE WON'T BE HO STUCK HOLDING THE BAG. 
          WE WILL BE PAYING THE DEBT SERVICE. 
          YES. 
          SO WE ARE STILL WORKING THROUGH THE AGREEMENTS. 
          WE HAVE HIRED A, AN ATTORNEY WHO REPRESENTS, UH, CITIES IN, IN THESE TYPES OF THINGS, AND, UH, WILL BE HAVING ALL THOSE RISK AND LIABILITIES CHECKED BY HIM. 
          BUT, UM, IF THE TEAM WERE TO FAIL AND LEAVE, WE WOULD HAVE A STATE AND STILL HAVE THE DEBT SERVICE. 
          YES. 
          WE WILL BE PUTTING IN ALL OF THE REQUIRED RISK OF WHAT HAPPENS TO THEM IF THEY FAIL, WHICH IS PART OF THE NEGOTIATIONS, THEY'LL BE LIABLE FOR SOMETHING. 
          I THINK YESTERDAY YOU MENTIONED THAT THE DEBT WAS SUPPOSED TO BE PAID OFF WITHIN 15 YEARS. 
          RIGHT. 
          YOU, WE'LL GET INTO THE NUMBERS HERE IN JUST A MINUTE. 
          YEAH, LET'S GO. 
          OKAY. 
          NUMBERS, LOTS OF NUMBERS. 
          SO I, I WENT AHEAD AND PROVIDE, I WANTED TO PROVIDE ALL THE NUMBERS THAT RIGHT NOW WE'RE PROJECTING. 
          THIS IS, UM, WHAT I'M SUGGESTING IS WHAT WOULD BE UPDATED IN THE TIF REVENUE PROJECTIONS. 
          SO RIGHT NOW, IN 2025, THE BEGINNING BALANCE IN THIS FUND. 
          SO THE AMOUNT OF CASH THAT WE HAVE AVAILABLE IS ROUGHLY $2.5 MILLION. 
          AND WE ARE SET TO GENERATE, YOU KNOW, ANOTHER 2.5 MILLION THIS YEAR. 
          AND I HAVE BROKEN THIS OUT INTO CATEGORIES. 
          SO WHEN YOU LOOK AT THE PROJECTION FOR THE MEDICAL DISTRICT, WE ARE PROJECTING, BASED OFF OF OUR CERTIFIED VALUES TO BRING $1.6 MILLION FROM THE MEDICAL DISTRICT IN 25. 
          THE NORTH SOUTH PORTION, BECAUSE OF THOSE DATA CENTERS, IS ALREADY COLLECTING 947, WHICH IS A GREAT START FOR A TIFF WITH, UH, YOU KNOW, SOME MINOR INTEREST EARNINGS FOR A TOTAL OF 2.5 MILLION. 
          SO WE'RE PROJECTED AT THE END OF 25 TO HAVE ROUGHLY $5 MILLION MOVING FORWARD. 
          MY STRATEGY HAS BEEN WITH TIFFS IS TO BE EXTREMELY CONSERVATIVE UNTIL WE KNOW SOMETHING. 
          SO WITH THE MEDICAL DISTRICT, THE GROWTH ASSUMPTION IS 1.5%, BUT OF COURSE, WE JUST TALKED ABOUT HUGE PLANS WITH RECRUITMENTS AND ACTIVATING THE MEDICAL DISTRICT. 
          NONE OF THAT IS CONTEMPLATE CONTEMPLATED IN THIS PLAN. 
          AND THAT'S BY DESIGN. 
          AND THE DESIGN IS TO ENSURE THAT WE CAN COVER THE OBLIGATIONS. 
          THE NORTH SOUTH IS THE SAME. 
          AND WHEN I SAY BASE, THIS IS EVERYTHING OTHER THAN THE DATA CENTERS AND THAT SOUTH GARLAND THAT I SHOWED. 
          SO THE BASE ALSO IS ONLY INCREASING 1.5%. 
          AND BY THE WAY, OVER THE LAST 20 YEARS, OUR TAX BASE HAS GROWN ABOUT 4.9% A YEAR. 
          SO THIS IS VERY CONSERVATIVE, THE HOLFORD PROJECT. 
          SO THAT 14 ACRES, UH, WE ARE ASSUMING 75 MILLION OF VALUE GOING THERE IN 2028 WITH, AGAIN, IN THE OUT YEARS OF 1.5% GROWTH. 
          THE DATA CENTERS, THE DATA CENTER, THERE'S THE THREE DATA CENTER CLUSTERS THAT WE HAVE ARE TELLING US THAT THEY'RE ESTIMATING 840 MILLION IN VALUE. 
          WELL, WE'RE USING 35% OF THAT IN THESE NUMBERS. 
          SOUTH GARLAND, WE HAVE HAD SOME STUDIES DONE THAT HAVE SHOWN UPWARDS 
          [01:05:01]
OF $400 MILLION WORTH OF TAXABLE VALUE FOR THAT SITE WHERE WE'RE USING A HUNDRED. 
          AND THEN THE INTEREST EARNINGS IS A VERY MODEST 1% OF THE CASH BALANCES. 
          SO YOU CAN SEE AT THE END OF 2048, WHICH IS THE CURRENT LIFE OF THE TIFF, I'VE HIGHLIGHTED THAT IN YELLOW. 
          THE TIFF IS SET TO GENERATE ABOUT 1 41 0.4 BASED OFF OF THESE VERY CONSERVATIVE NUMBERS. 
          AND IF IT IS EXTENDED, WE'LL PROVIDE $197 MILLION. 
          SO THE PROPOSED FINANCING OF THIS PLAN, USING THOSE REALLY CONSERVATIVE NUMBERS, SO THAT THIS IS PULLING ALL THE PROJECTED TIF REVENUE THERE WHERE IT SAYS TIF THREE REVENUE, THAT'S THE 194 MILLION. 
          OVER THE NEXT 30 YEARS, WE ARE LOOKING TO ISSUE, UH, A ROUGHLY $43 MILLION OF TIF REVENUE BONDS. 
          AND THE INTEREST RATE ON THIS, MORE THAN LIKELY WOULD BE ABOUT 6%. 
          UH, WHEN WE ISSUE BONDS FOR THE CITY, WE WERE USUALLY ARE IN BETWEEN THREE AND A HALF AND FOUR. 
          WHY THIS IS GOING TO BE HIGHER IS THE FACT THAT IT WON'T BE FULLY SECURE BY OUR TAXING ABILITY. 
          WE'RE NOT LOOKING TO INCREASE TAXES WITH THIS. 
          THIS IS WHAT'S CALLED A REVENUE BOND, MEANING THE REVENUE GENERATED FROM THE TIFF, WE'LL PAY OFF THE BONDS. 
          SO THE INVESTORS WILL SEE THIS AS SLIGHTLY MORE RISKY. 
          UH, WHAT 1.25 TIMES COVERAGE MEANS. 
          AND THAT'S ALSO WHAT WE'RE LOOKING AT IS YOU CAN SEE IN 2026, THERE'S ROUGHLY $3 MILLION WORTH OF BONDS OR, UH, REVENUE THAT'S COMING IN. 
          WE'RE BASICALLY SAYING WE'RE ONLY GONNA BOND AGAINST 75% OF THAT. 
          AND THEN YOU CAN SEE THE CASH INFUSIONS OVER THE NEXT TWO OR WELL OVER THE THREE YEAR PERIOD TO FUND THAT $4 MILLION OF CASH. 
          AND RIGHT NOW, UNDER THIS EXTREME, AND THIS IS WHAT I'M PROPOSING TO PUT IN THE TIF PLAN, THE VERY CONSERVATIVE LOOKOUT ON THIS, WE'RE ANTICIPATING TO PAY OFF THIS ONE IN YEAR 18 BASED OFF OF THESE REALLY CONSERVATIVE ESTIMATES. 
          BUT I DID SAY 15 WHEN WE WERE ON THE PHONE. 
          AND WHAT THAT'S BASED OFF OF IS AN AVERAGE OF ALL THE DIFFERENT MODELS WE'RE RUNNING. 
          BUT I I'M PROPOSING WE USE THE MOST CONSERVATIVE, AND REALLY WHAT WE'RE GOING TO DO IS HAVE A CALL PROVISION AFTER YEAR 10. 
          SO AFTER YEAR 10, WE WILL HAVE THE ABILITY TO CALL THOSE BONDS AND PAY IT OFF IMMEDIATELY, ALL THE WAY THROUGH THE REST OF THE LIVE. 
          AND THAT WAY IT WILL JUST BE WHEN THE TIME COMES. 
          RIGHT. 
          TIFF BOARD WANTS TO MAKE THAT RECOMMENDATION. 
          COUNSEL WANTS TO APPROVE IT, WE'LL JUST PAY OFF THE BONDS. 
          BUT UNDER THESE ASSUMPTIONS RIGHT HERE, I'M ASSUMING YOU'RE 18, THE REVENUE IS GONNA BE USED FROM THE TIF THREE TO PAY OFF THE BONDS. 
          IT, IT BEGS THIS QUESTION, IF WE'RE USING REVENUES TO PAY OFF THE BONDS, HOW IS THE REVENUE THAT'S GENERATED FROM TIFF THREE IS GOING TO PROHIBIT OR LIMIT THE POTENTIAL, UH, DEVELOPMENT IN THE, IN THE MEDICAL CITY DISTRICT? THERE'S IS, IS THERE, IS THERE ANY RESTRICTION OR PROHIBIT, UH, FUTURE PLANS OR ACTIVITY BECAUSE THE, THE REVENUE IS GOING TOWARD THESE BONDS VERSUS A FUTURE DEVELOPMENT IN THE MEDICAL CITY DISTRICT? THAT'S, THAT'S MY, THAT'S MY CRUX CRUX QUESTION, AND YOU'LL SEE RIGHT. 
          WHAT I'M PROPOSING, I MENTIONED EARLIER THE 88.7 MILLION AND, AND WHAT I'M PROPOSING HERE IS THE MEDICAL DISTRICT RESERVE, WHICH YOU CAN SEE STARTS FAIRLY LOW. 
          SO YOU CAN SEE OVER THE NEXT FOUR YEARS, ROUGHLY ONLY $2 MILLION GOING INTO IT. 
          AND THEN IT INCREASES TO 1000001.5. 
          AND THEN DEPENDING HOW GOOD THIS TIP PERFORMS, AFTER THOSE BONDS ARE PAID OFF, THERE'S SUBSTANTIAL AMOUNT OF CASH POURED IN. 
          AND THE INTENT OF THIS IS, THIS CONCEPT IS THAT IF THE ED BOND PACKAGE IS PASSED, THE FIRST THING ON OUR PLATE IS BRINGING IN AND RECRUITING A HOSPITAL AND DOING THE IMPROVEMENTS THAT WE ALREADY HAVE IN THE CIP ASSOCIATED WITH IT. 
          FROM THERE, IT'S GOING TO BE ALL THE OTHER IMPROVEMENTS AS THEY'RE LOOKING TO EXPAND. 
          SO THAT WAS THE IDEA BEHIND THIS STRATEGY. 
          SO YES, IT MEANS THAT THEY ARE GETTING MONEY LATER, BUT THEY'RE GETTING MORE OF IT BECAUSE WE'RE BORROWING AGAINST IT. 
          AND FOR TODAY'S PURPOSES, WHAT HAPPENS IF WE SAY, LET'S MOVE FORWARD ON THIS, AND THEN THE BOND PACKAGE FAILS? WELL, THE FIRST THING THAT'S GONNA, FIRST THING THAT WE'RE REALLY, SO WE'RE ASKING FOR, FOR THE 
          [01:10:01]
PROJECT PLAN TO BE UPDATED, THE PROJECT PLAN WILL BE UPDATED. 
          WELL THEN ON FEBRUARY 4TH, WHAT WE WILL BE ASKING FOR IS TO, FOR, TO COUNSEL IS TO START DESIGN. 
          THAT DESIGN PROCESS WILL TAKE SIX MONTHS. 
          SO FROM THAT DESIGN PROCESS AS IT'S GOING ON, MORE THAN LIKELY I WILL START THE CLOCK IN THE NEXT TWO MONTHS ON GETTING THE BONDS ISSUED FOR THE PROJECT BECAUSE WE'LL KNOW A LOT MORE IF WE'RE GONNA HAVE AN AGREEMENT. 
          SO THERE, THERE'S GOING TO BE A LOT MORE TIFF BOARD MEETINGS TO DISCUSS THIS DOWN THE ROAD. 
          BUT THIS IS SETTING THE STAGE TO HAVE THIS PROJECT IN THE PROJECT PLAN. 
          AND IF THE BOARD AGREES AND WE CAN BECOME A, AND GET IN AN AGREEMENT WITH THE TEAM, YES, WE WILL ISSUE THE BONDS. 
          AND WILL THAT BE DONE BEFORE OR AFTER THE MAY ELECTION? IT REALLY DEPENDS ON HOW FAST WE MOVE. 
          AND AGAIN, I SAID THAT, YOU KNOW, IS IT SIX MONTHS DESIGN AT LEAST? YEAH. 
          BECAUSE MY, MY CONCERN LOOKING AT THIS FROM, YOU KNOW, LOW LEVEL, NO NOTHING PERSON THAT'S OUT THERE. 
          JUST HEARING LAST NIGHT WE HEARD WE'RE GETTING A SOCCER STADIUM. 
          YEAH. 
          OKAY. 
          THAT THAT WAS NOT A, WE MAY BE, THAT WAS A, WE ARE, I MEAN IT'S ON THE GARLAND FACEBOOK PAGE, IT'S, WE'RE GETTING A SOCCER STADIUM. 
          AND THEN HERE TONIGHT WE'RE TALKING BOND PASSAGE FOR THE ECONOMIC DEVELOP PORTION. 
          IF THAT DOES NOT GO THROUGH, IS THAT STADIUM STILL HAPPENING? AND THEN OUR TIFF IS, I, I GUESS MY QUESTION IS, IF THAT DOES NOT HAPPEN AND WE, THE, THE TAXPAYERS, EVEN THOUGH IT'S A NO TAX RATE INCREASE BOND, SAY WE DON'T WANT TO DO IT, WHAT HAPPENS TO US IF OUR SOLE, YOU KNOW, THE BIGGEST PORTION THAT WE WANTED WAS FUNDING THE HOSPITAL AREA. 
          IF THAT BOND DOES NOT PASS AND THE 18 MILLION IS NOT THERE, WHERE ARE WE AT? IF THAT MAKES SENSE. 
          SURE. 
          WELL, I, I CAN THROW OUT MULTIPLE THINGS, BUT I GUESS THIS IS WHAT I CALL FINANCIAL GYMNASTICS. 
          IT DOESN'T MEAN THAT WE'RE DEAD. 
          IT MEANS THAT WE'VE GOTTA REGROUP AND FIND ANOTHER STRATEGY. 
          UH, AND USUALLY THAT'S WHAT I DO ALL DAY IS SIT AND THINK OF IT. 
          THIS DOESN'T HAPPEN. 
          WHAT DO I DO NEXT? UH, SO OPTIONS, BOND PACKAGE FAILS. 
          WE DON'T GET THE $18 MILLION PARKLAND COUNT. 
          THE COUNTY WILL BE PRESSED VERY HARD TO JOIN OUR TIFF. 
          AND I'M HOPING THEY'RE ALREADY PRESSED VERY HARD. 
          . 
          YEAH, WELL, PARKLAND. 
          PARKLAND SPECIFICALLY, YEAH. 
          PARKLAND DOES NOT NECESSARILY PARTICIPATE IN TIFFS, BUT THEY HAD INDICATED TO ME ONE IN, IN A MEETING SEVERAL YEARS AGO THAT IN A SITUATION LIKE THAT, THEY WOULD BE OPEN TO IT. 
          I WOULD. 
          SO THAT WOULD BE PRESSING THEM. 
          BUT THAT, YES, THAT SHOULD HAPPEN NO MATTER WHAT. 
          YOU'RE RIGHT. 
          SO THAT'S ONE WHICH WOULD, WOULD HELP. 
          TWO WOULD BE SOME OTHER WAY FOR, FOR, SAY, PARKLAND TO BUILD A HOSPITAL WITH RE WITH A REIMBURSEMENT FROM THE TIF. 
          I MEAN, THERE'S A A MILLION DIFFERENT WAYS TO GET THERE. 
          THE EASIEST PATH IS THE BOND PACKAGE. 
          I, I JUST WANT TO ENSURE EVERYBODY'S SITTING HERE TONIGHT. 
          Y'ALL NEED TO KNOW THAT I THAT MAY LISTEN TO THIS. 
          OKAY. 
          THAT IF WE DO THIS, WE'RE NOT PIGEONHOLING OURSELVES AND LOSING OUR ORIGINAL SITE. 
          AND THAT'S, THAT'S MY COMMITMENT, MA BA BASED ON THE ABILITY TO BORROW NOW AGAINST THE TIFF, THE, THE FUTURE EARNINGS OF THE TIFF IN THE ALMOST 200 MILLION THAT YOU SHOWED US A WHILE AGO, THERE IS STILL, THERE'S STILL AVAILABILITY OF BORROWING MONEY AGAINST THIS TIFF ABOVE THE 50 MILLION. 
          RIGHT? ABOVE THE 50 OH, ABOVE THE AMOUNT FOR THE STADIUM. 
          YES. 
          SO WE COULD GO BORROW. 
          SO THIS MEDICAL DISTRICT RESERVE IS ASSUMING A CASH BALANCE. 
          YEP. 
          JUST TRANSFERRING CASH OVER TO, TO A, A POTENTIAL PROJECT. 
          AND, AND AGAIN, NOT KNOWING WHAT THIS WILL BE USED FOR, THIS IS JUST PROVIDING A BALANCE TO GET, TO MAKE THEM WHOLE. 
          WE WOULD HAVE TO COME BACK TO THE TIF BOARD. 
          THERE IS A SCENARIO WHERE WE COME BACK TO THE TIF BOARD IN 2028 AND WE SAY, ALRIGHT, THIS, THE, THE BOND PACKAGE FAILED. 
          I CAN BORROW UP TO 
          [01:15:01]
THIS AMOUNT AGAINST THE TIFF TO COVER THAT $18 MILLION GAP TIF BOARD. 
          DO YOU WANNA MAKE THAT RECOMMENDATION? IT'S JUST I DON'T HAVE A CRYSTAL BALL. 
          I CAN ONLY TRY TO MITIGATE AGAINST ALL THOSE RISKS AS WE MOVE FORWARD. 
          WHAT I'M UNDERSTANDING, AND I WANT MAKE SURE WE ALL UNDERSTAND THE SAME THING, IS WE'RE NOT NECESSARILY BORROWING THE 50 MILLION MEDICAL DISTRICT MONEY. 
          WE'RE BORROWING $50 MILLION OF THE TIP THREE, WHICH COULD BE RUN UP TO $200 MILLION OR MORE IN IT, IN, IN TO THE, TO THE 58 OR WHATEVER THE NEXT, THE TERM WE, WE MAY SET ONE THING THAT I WOULD POINT OUT IS WHENEVER WE STARTED OKAY, RIVER SET WAS, OH, YOU HAD WHAT WE HAD. 
          OKAY. 
          AND IT HAS VASTLY OUTPERFORMED MM-HMM . 
          EVERYTHING THAT WE PUT IN, THEY'RE, THEY'RE ALMOST DONE. 
          AND I THINK OUR ORIGINAL PROJECTION SHOWED THEM NOT BEING COMPLETE UNTIL 26, MAYBE EARLY 27. 
          CORRECT. 
          THEY HAVE TOTALLY OUTPACED ALL PROJECTIONS WE'VE PUT TOGETHER. 
          AND TO BE HONEST, WHEN I WAS WORKING ON THAT ORIGINALLY I DIDN'T THINK WITH, I THOUGHT THE HOUSE C MARKET WAS GONNA SLOW DOWN FASTER THAN IT DID. 
          AND, BUT THEY HAVE DONE GREAT. 
          I JUST, I'M, I'M LOOKING AT THIS FROM THE NORMAL EVERYDAY GARLAND CITIZEN STANDPOINT. 
          MM-HMM . 
          OKAY. 
          AND TO MAKE ME SLEEP BETTER AT NIGHT. 
          WE ARE OUTPERFORMING IN THAT AREA, IN THE AREAS THAT WE HAVE INCORPORATED ARE NOW NOT DEVELOPED. 
          THEY'RE WORKING ON THE DATA CENTERS AND THEY ARE BRINGING IN MONEY, BUT THOSE AREAS ARE NOT THERE AND DATA'S NOT GOING AWAY. 
          THE, THE NEED FOR BUILDING IN THE SOUTH IS NOT GOING AWAY. 
          SO IF SOMEBODY ASKS ME POSSIBLY WHY WE DID WHAT WE MAY DO TONIGHT IN A WEEK, I WANT TO BE ABLE TO SAY, I TRULY THOUGHT IT WAS THE RIGHT THING TO DO. 
          AND I THINK THAT'S WHAT EVERYBODY HERE WANTS TO, TO, IF I COULD, IF, IF IT'S OKAY IF I COULD ADD A COMMENT. 
          'CAUSE I THINK, YOU KNOW, THERE'S SOME IMPORTANT CONSIDERATIONS IN, IN ECONOMIC DEVELOPMENT THAT ARE VERY DIFFICULT SOMETIMES TO, YOU KNOW, IF YOU THINK ABOUT IT, WE'VE GOT THREE HUGE PROJECTS WITHIN ONE TIFF AND THEY BENEFIT EACH OTHER. 
          AND THE CHALLENGE IS, IS IT'S HARD FOR US TO CONTROL WHICH ONES COME FIRST. 
          THE ONE THAT'S AT HAND IS THE WINDOWS OPEN TODAY, BUT IT ENDS UP BENEFITING THE OTHER TWO IN THE LONG RUN AND VICE VERSA. 
          SO WE, THE SNOWBALL ALWAYS STARTS SMALL, RIGHT? AND SO THAT DOWNHILL, BUT, AND SO EXACTLY. 
          AND SO THIS, THIS IS ONE OF THOSE THINGS THAT, THAT SUCCESS BEGETS MORE SUCCESS AND CITYWIDE, THAT'S THAT ECONOMIC DEVELOPMENT STRATEGIC PLAN THAT WE TALK ABOUT. 
          THIS IS A CITYWIDE, THIS JUST HAPPENS TO BE TIF THREE. 
          AND THIS IS REALLY WHERE THERE, THERE'S THREE HOME RUNS IN HERE. 
          IT JUST DEPENDS ON WHICH COMES IN WHICH ORDER. 
          AND SO I THINK, YOU KNOW, MATT'S PUT TOGETHER, WE'VE BEEN WORKING ON THIS FOR THREE YEARS, HAS PUT TOGETHER AN AMAZING PLAN THAT, THAT CAN ALLOW ALL THREE OF THOSE PROJECTS TO COME FRUITION AND LEAVES OPTIONS IF SOME OF THE VARIABLES CHANGE. 
          I THINK THIS IS A GREAT PLAN, BUT IN OUR PREVIOUS MEETING, I'M BRINGING THIS OUT TO OPEN. 
          WHEN WE WERE ALWAYS TALKING OR NEGOTIATING WITH PARKLAND, THEY HAVE, BUT JUST BECAUSE OF OUR GEOGRAPHICAL LOCATION NEAR WALK WALL AND PEOPLE COMING IN FROM THE OUTSIDE, THAT'S NOT PAYING TAXES COMING IN USING A PUBLIC HOSPITAL. 
          THEY HAD, THEY HAD HEARTBURN OVER THAT, DID THEY TAKE SOME PEP PEPTOL BISMOL OR THEY STILL HAVE THE HEARTBURN O OVER THIS, GOING FORWARD WITH THIS, WITH THIS COUNTY HOSPITAL. 
          IT, WE'VE HAD VERY PRODUCTIVE CONVERSATIONS WITH THEM, UH, VERY RECENTLY. 
          AND SO AS THE VARIABLES CHANGE AND THE PLAYERS CHANGE, MORE RESOURCES COME TO LIGHT, MORE COMMITMENTS COME TO LIGHT. 
          YES. 
          THAT IS A VARIABLE. 
          AT THE END OF THE DAY, WHAT IS, WHAT IS LIKELY TO BE A FORMULA FOR SUCCESS IS GONNA BE SOME KIND OF HYBRID BETWEEN THE PRIVATE PROVIDER, WHAT WE CAN HELP INCENTIVIZE TO GET OVER THE GAP AND, AND WHAT BENEFITS PARKLAND. 
          THERE HAS BEEN SOME VERY, UM, GOOD PROGRESS WITH THAT. 
          MUCH DIFFERENT THAN JUST THE RECENT PAST, I CAN TELL YOU. 
          AND SO THERE, THERE'S A ROOM THERE THAT I THINK ALL OF THOSE PIECES ARE GONNA HAVE TO COME TOGETHER BECAUSE OF THE REASON THAT THAT, THAT HOSPITALS, WE HAVE TO REMEMBER, IT'S, THEY'RE A BUSINESS. 
          UM, EVEN PARKLAND'S STILL A BUSINESS, EVEN THOUGH THEY'RE SUBSIDIZED IN DIFFERENT WAYS, THAT PUTTING THOSE TWO TOGETHER, I THINK WILL MAKE 'EM MUTUALLY SUCCESSFUL. 
          BOTH THE PRIVATE SIDE AND THE PARKLAND SIDE TO WHERE BOTH FEED EACH OTHER IN THE RIGHT WAY AND BOTH GET WHAT THEY WANT. 
          BUT THE SENATE. 
          BUT THE, THEY'RE, THEY'RE NOT HAVING RESISTANCE. 
          LIKE THEY, THE RESISTANCE IS GRADUALLY GOING ON. 
          YES, SIR. 
          NO, WE'VE, COUNCILMAN OTT AND OTHERS HAVE DONE A WONDERFUL JOB OF ESTABLISHING RELATIONSHIPS AT A HIGH LEVEL WITH THEM AND HAVE HAD VERY PRODUCTIVE CONVERSATIONS. 
          SO I THINK WE'RE IN THE RIGHT TRACK. 
          AND I THINK THAT 
          [01:20:01]
RESISTANCE WAS PROBABLY FROM THE INITIAL YOU BUILD A HOSPITAL HERE ON YOUR DIME THAT THAT DOESN'T FIT INTO THEIR MODEL. 
          THIS IS JUST TRYING TO GET A PARTNERSHIP WITH THEM. 
          WE HAVE A PRIVATE DEVELOPER AS WELL, WHO THE PRIVATE DEVELOPER COULD PAY FOR ALL THIS. 
          AND THE INCENTIVE COULD BE YOU GET, IF YOU ACHIEVE X, WILL YOU GET THIS PORTION OF THE TIF REVENUE. 
          SO THERE'S ALL KINDS OF OPTIONS. 
          IT'S JUST HARD TO, IT'S HARD TO NARROW IT DOWN UNTIL YOU GET INTO THOSE NEGOTIATIONS WITH THEM AT, AT ANY HOSPITAL SYSTEM. 
          WHAT WE'VE LEARNED IS THE, THE LIFEBLOOD OF THOSE IS HOW THEY INTAKE PATIENTS. 
          SO LIKE, IF YOU SEE THE URGENT CARE ALL OVER THE, ALL OVER THE COUNTRY, THAT INTAKE IS TIED TO SOMEBODY'S REFERRAL INTO A HOSPITAL. 
          THAT'S WHERE THEY REALLY MAKE THEIR, SO WHETHER IT'S PARKLAND OR ANY OTHER PRIVATE PROVIDER, THAT INTAKE SYSTEM HAS TO SUSTAIN THAT BASE. 
          SO IT MIGHT END UP BEING WHERE, YOU KNOW, WE INCENTIVIZE WHATEVER THAT LOOKS LIKE, UH, THE INTAKE IS THROUGH WHATEVER SERVICES THEY THINK ARE SUSTAINABLE, AND THEN UNDER THE SERVICES THEY DON'T PROVIDE, THEN MAYBE THERE'S AN AGREEMENT THAT THEY GO TO THE PARKLAND FACILITY FROM HERE SO THAT, THAT THEY'RE GETTING THAT, YOU KNOW, LEVEL OF SERVICE IN THAT TYPE OF RELATIONSHIP. 
          BECAUSE YOU GOTTA REMEMBER TOO, THE THE BIG INCENTIVE THAT WE ALREADY HAVE ON THE TABLE AND IT IS PURCHASED IS THAT LAND. 
          SO THE LAND'S THERE. 
          SO WE HAVE, THAT'S USUALLY WHERE WE START. 
          WE HAVE THE LAND, IT'S A BLANK SLATE FOR YOU. 
          SO THAT'S A SHOULD GO A LONG WAY. 
          MADAM, AM I, AM I CORRECT IN, IN THINKING, UH, SHOULD WE DO THE 50 MILLION BOND TO MAKE THE STADIUM HAPPEN AND, AND THE HOSPITAL MOVE IN A YEAR, WE'RE READY TO DO THAT. 
          WE STILL HAVE THE ABILITY TO BORROW AGAINST THE FUTURE INCOME. 
          SO I DON'T SEE ANYTHING THAT COULD STOP BOTH OF THOSE DEVELOPMENTS FROM HAPPENING. 
          SHOULD THEY COME TOGETHER IN THE NEXT YEAR OR TWO WITH THE ABILITY TO BORROW AGAINST FUTURE REVENUES? IS THAT CORRECT? WELL, WELL, ONE THING I WANNA MAKE SURE Y'ALL UNDERSTAND IS YOU, YOU CAN'T BORROW AGAINST FUTURE REVENUES. 
          YOU CAN BORROW AGAINST CERTIFIED VALUES. 
          OKAY? SO IN THIS INSTANCE, THE CERTIFIED VALUE IS CONTEMPLATED AT 2.9 MILLION. 
          WE'RE BORROWING 75% OF THAT SAY IN YEAR 2030. 
          IT'S NOW 4.5. 
          WE'VE ALREADY BORROWED 2.9. 
          TAKE THE DIFFERENTIAL OF THAT, THAT'S YOUR BORROWING CAPACITY. 
          OKAY. 
          SO THE 43 MILLION AND TIF BONDS, THAT'S AGAINST THE, THE FUTURE TIFF EARNINGS THAT IS JUST AGAINST WHAT IS ON THE GROUND NOW, RIGHT? RIGHT. 
          OH, SO I THINK I'M GONNA TRY TO SAY WHAT YOU WERE SAYING ALSO, DID I NOT SAY IT WELL, YOU DID, BUT I WANNA MAKE SURE LIKE I  SAY IT. 
          I TRIED TO MAKE IT MY SIMPLE, SAY IT MY WAY. 
          WE'RE GONNA MAKE IT LORI SIMPLE NOW. 
          YES. 
          OKAY. 
          OKAY. 
          I'M WAY, LORI, SIMPLE. 
          UM, HAVING BEEN INVOLVED WITH STARTING RIVER SET FROM PLAN COMMISSION TO COUNCIL TO MAYOR, YOU KNOW, THAT WAS THE CATALYST AND THE WHOLE REASON WAS FOR THE MEDICAL DISTRICT. 
          SO WHAT I WAS KIND OF HEARING, PATRICK, I, WE NEED TO BE ABLE TO COME AWAY SAYING WE MADE THIS DECISION, BUT THE MONEY WILL STILL BE THERE FOR THE MEDICAL DISTRICT. 
          I TOTALLY GET, YOU KNOW, ALL THE MILLIONS OF WAYS TO DO IT. 
          UM, BUT THERE HAS TO BE, SO I GUESS IN MY MIND I'M THINKING, SHOULD SOMETHING HAPPEN AND THIS STADIUM DOESN'T GO, I WOULD WANT ALL THAT ABILITY TO BOND AND DO SOMETHING TO GO AWAY. 
          IN OTHER WORDS, IT COMES BACK TO THE MEDICAL DISTRICT AND IF THERE'S ANOTHER PROJECT THAT IT BE BROUGHT FORWARD AGAIN, KIND OF LIKE THIS, NOT THAT IT'S, WE APPROVED 43 MILLION UP NORTH AND IT STAYS UP NORTH, IF THAT MAKES SENSE. 
          SURE. 
          I WANNA BE ABLE TO EXPLAIN TO ALL THOSE FOLKS. 
          WELL, WHEN WE STARTED THIS, YES, THE INTENT WAS THOSE HOMES WOULD BE FOR HOSPITAL EMPLOYEES, YOU KNOW, IT WAS GONNA START AT 250,000 ON THE HOUSING COST. 
          I WAS LOOKING AT SOME OF THE ORIGINAL YEAH, PRETTY YEAR. 
          2039 1,000,004 77 WAS THE HIGHEST WE GOT. 
          [01:25:03]
WE, WE WENT THROUGH THAT, WHICH IS YEAH. 
          A GREAT THING. 
          UM, WE'RE, WE'RE WE'RE BREAKING CEILINGS THERE. 
          OH YEAH. 
          YEAH. 
          NOT ONLY DID IT GO FASTER, BUT THE VALUES NOW START AT FOUR 50, OR AT LEAST THAT'S WHAT THE SIGN SAYS. 
          BUT I WANNA MAKE SURE THAT THERE'S STILL, I MEAN, THERE WAS, YOU KNOW, CONTEMPLATED EITHER A WALKING TRAIL, A BIKE TRAIL THAT TIED INTO, AND I KNOW THAT'S STILL PART OF THE PLAN. 
          I'M JUST THINKING OUT IF SOMEBODY, OBVIOUSLY I LIVE RIGHT THERE. 
          IF SOMEBODY'S LIKE, WELL WHY, WHY DID YOU TAKE THE MONEY OR, YOU KNOW, APPROVE FOR THE MONEY TO GO UP HERE WHEN IT WAS, YOU KNOW, I'M NOT SEEING SOMETHING HAPPEN HERE AT THE HOSPITAL. 
          AND SO I WANNA AT LEAST NUMBER ONE, BE ABLE TO SAY, OKAY, WELL IF WHAT'S CONTEMPLATED THAT'S GONNA, YOU KNOW, LIFT EVERYBODY DOESN'T GO, THEN THE APPROVAL FOR 43 MILLION IN BONDS GOES AWAY. 
          CORRECT. 
          YEAH. 
          I MEAN, IF IT IS TIED ONLY TO THIS EXACT, I DON'T MEAN THIS EXACT PLAN, BUT THIS, THIS STADIUM USL YEAH. 
          THIS PROPOSAL. 
          YEAH. 
          BACK TO THE TIMELINE. 
          I MEAN, JUST A SUGGESTION. 
          I MEAN, FEBRUARY 4TH, WE GOT A SIX MONTH DESIGN PHASE. 
          WE HAVE THE $4 MILLION OF CASH, WE HAVE ALSO THE UTILITY CASH. 
          AND THAT TYPICALLY, MY SUGGESTION IS TO GO THROUGH TAX, GO THROUGH YOUR CASH BEFORE YOU START BONDING. 
          UM, IF THIS DOES NOT COME THROUGH, AND WE, I WILL TALK TO OUR CITY ATTORNEYS ABOUT THIS, BUT THIS IS SIMILAR TO WHAT WE DID WITH THE MEDICAL DISTRICT TO BEGIN WITH IN THE ORDINANCE, HAVING IT WRITTEN. 
          IF, IF, YOU KNOW, WHEREAS WHERE WE WANNA BUILD A STADIUM, BLAH, BLAH, BLAH. 
          BUT IF THE STADIUM DOES NOT GO THROUGH, THIS PROJECT WILL NOT BE BONDED. 
          AND THAT WAY WE WILL BE BACK TO THE DRAWING BOARD AND WE CAN TALK THROUGH WHAT WILL BE IN THE PROJECT PLAN. 
          BECAUSE AT THAT TIME, WE'LL KNOW A LOT MORE ABOUT WHAT'S HAPPENING IN MAY. 
          I TRULY THINK, OKAY, LOOKING AT EVERYBODY'S FACES HERE, I'M, I MEAN, YOU'RE GETTING SOME HEAD NODS. 
          OKAY. 
          WE BELIEVE THAT THIS IS TRULY THE BEST THING THAT WE CAN DO RIGHT NOW. 
          OKAY. 
          WE JUST WANT SOME ASSURANCE THAT IF IT DOESN'T HAPPEN, WE'RE NOT CAPTIVE. 
          AND THAT'S, THAT'S FAIR. 
          THAT'S TOTALLY FAIR. 
          I WOULD SAY MY HISTORY WITH RIVERSIDE, I NEED TO MAKE SURE THAT IT STAYS SORT OF IN THE MEDICAL RIGHT. 
          PEOPLE ARE LIKE, I'M SORRY, YOU'RE THE ONE THAT, YOU WORKED ALL THE WAY THROUGH THIS. 
          HOW COULD YOU LET THIS HAPPEN? SO I'M LIKE, MM. 
          AND CORRECT ME, AND AGAIN, I'M EXTREME, I'M ALWAYS EXTREMELY CONSERVATIVE. 
          I'M IN THE WORST PROJECTOR ON THE FACE OF THE PLANET, AND THAT'S ON PURPOSE. 
          UH, SO I'M, I'M TRYING MY BEST. 
          I AM. 
          YEAH. 
          THERE, I MEAN, I, I, I DON'T LOOK AT THIS AND, AND EVERYBODY'S GONNA COME AND I CAN ALREADY HEAR IT IN MY HEAD, OKAY, WE'RE GONNA HAVE THIS NORTH SOUTH THING AGAIN. 
          AND I, I DON'T CARE ABOUT IT. 
          OKAY? I LOOK AT THE ORIGINAL BOUNDARIES OF WHAT WE SET UP TO DO, AND THAT'S WHERE OUR HEART LIES. 
          BUT WE HAVE THE POSSIBILITY TO BE A CATALYST FOR THE ENTIRE CITY. 
          YEAH. 
          AND YES, THAT, THAT'S, THERE'S NO NORTH SOUTH, THERE'S NO EAST WEST. 
          WE'RE GONNA BRING PEOPLE FROM OKLAHOMA, ROCKWALL, THIS IS NOT A GARLAND THING. 
          THIS IS A TRUE NORTH TEXAS REGION THING. 
          IF IT HAPPENS, I THINK IT'LL PAY US BACK QUICKER IN WAYS THAT WE COULD NOT IMAGINE. 
          BUT, AND, AND I'M ON YOUR SIDE, BUT I WANT THAT PROTECTION. 
          SO WE CAN, WE CAN, WE CAN DO THAT. 
          AND I'LL TALK WITH THEM IN THE MORNING. 
          AND, UM, BUT I REALLY DO FEEL LIKE WE'VE GONE WAY OFF TRACK HERE. 
          SO I KNOW YOU HAVE MORE PRESENTATION. 
          YES. 
          I JUST SAY I REAL, YEAH, GO AHEAD. 
          ONE MORE TOO. 
          UM, I WANNA MAKE SURE I UNDERSTAND. 
          SO BONDING, THE 75%, 43 MILLION, THE INTEREST 6% IS, YOU KNOW WHAT, 2.6, 2.5. 
          SO WHEN YOU'RE SAYING 75%, 75% OF WHAT? HOW ARE YOU? I'VE TRIED BACKING INTO SOME NUMBERS. 
          [01:30:01]
SO IS IT YOU'RE GETTING 2.9 AND YOU'RE BONDING? YEAH. 
          WELL, THE PAYMENT AT 75% OF THE 2.9. 
          YEAH. 
          SO 2.9 DIVIDED BY 1.2. 
          UH, YEAH, 1.25. 
          AND THEN GETTING THE BONDING AMOUNT. 
          OKAY. 
          THAT I THOUGHT THAT'S WHAT IT WAS. 
          SO THEN TELL ME, YOU WERE TALKING ABOUT, I THINK I SEE WHERE YOU'RE BORROWING THE $2 MILLION, $2 MILLION. 
          HOW IS IT GOING TO PAY BACK THE MONEY BORROWED? HOW WILL THAT PROJECT HANG ON, I DON'T KNOW HOW TO ASK IT. 
          BUT YOU WERE SAYING, YOU, YOU CALCULATED WHERE BASICALLY THAT PROJECT WOULD PAY BACK THE MONEY IT BORROWED WITH THE INTEREST. 
          DID I MAKE THIS UP? THE LOOK ON HIS FACE? I THINK I MADE THIS UP, NOT THE INTEREST. 
          I THINK YOU SAID THAT IT WAS GOING, IT'S EMBEDDED IN THERE, THE BORROWED YES, I RECALL WHAT YOU'RE TALKING ABOUT. 
          I, I DON'T KNOW, PAY BACK THE TIFF FOR THE MONEY THAT IT BORROWED. 
          MM-HMM . 
          OH YES. 
          THE, YEAH, WITH INTEREST. 
          SO WHAT I'M SAYING IS THE, SO THE MEDICAL DISTRICT ORIGINALLY HAD 50 MILLION PROGRAM. 
          I'M SAYING THAT THE TIFF NEEDS TO, SO LET ME GO BACK. 
          IF YOU LOOK AT THE MEDICAL DISTRICT PROJECTIONS OF REVENUE AT 63 MILLION, THE TIFF IN THE MEDICAL DISTRICT SHOULD RECEIVE 88.7 BECAUSE OF THE TIME VALUE OF MONEY OF US BORROWING AGAINST RIVERSIDE. 
          AND THE EXTENSION. 
          AND THE EXTENSION. 
          SO AGAIN, 63 MILLION IS THE PROJECTION, BUT MEDICAL DISTRICT FUNDING IS 88.7 IN THIS RESERVE. 
          HOW IS THE RESERVE, I GUESS I'M MISSING, I UNDERSTAND THAT YOU'VE GOT THE 500,000 AT THE START. 
          HOW IS THAT RESERVE BUILDING UP? IT'S BASICALLY BUILDING UP ENOUGH TO ENSURE THAT I CAN PAY OFF THE DEBT. 
          SO YOU CAN SEE THE ENDING BALANCE IS CONTINUING TO INCREASE, BUT WHAT I WANNA DO IS BE ABLE TO CALL THOSE BONDS AND PAY OFF THE BOND. 
          SO IT'S CONTEMPLATING, IN THIS SCENARIO, IN 2000, UH, 43, WE WILL PAY OFF 25 MILLIONS OF BONDS, WHICH MEANS I NEED 25 MILLION IN FUND BALANCE. 
          ONCE THAT OCCURS, THE PAYMENTS DRASTICALLY INCREASED BACK OVER TO THE RESERVE BECAUSE I'VE PAID OFF THE DEBT AND I HAVE IT IN GREEN ON THE DEBT SERVICE PAYMENTS. 
          MEANING IF YOU ACTUALLY LOOK AT THOSE TOTALS UP BELOW, THEY'RE NOT CALCULATING THOSE. 
          'CAUSE EVEN ON THIS CONSERVATIVE MODEL, I'LL PAY IT OFF IN 18 YEARS AND THIS DEBT WILL ONLY COST ME 53 MILLION, WHICH MEANS I'D SAVE ABOUT 10, $11 MILLION OF INTEREST. 
          'CAUSE I PAID IT OFF EARLY, WHICH WILL GO RIGHT BACK INTO THE TIFF FUND. 
          SORT OF MAKES SENSE. 
          I THINK SO, , I I'M A NUMBERS, I, I'M NOT GOOD AT, I I JUST WANTED TO THROW ALL THE NUMBERS OUT AT YOU. 
          WELL SEE, I'M A NUMBERS PERSON, BUT I NEED THE COMPUTER TO YES, I KNOW, I KNOW, I KNOW. 
          I'M LIKE, WAIT A MINUTE. 
          I FEEL YOU. 
          OKAY. 
          I'M GOOD. 
          GOOD TO GO. 
          THANK YOU. 
          OKAY. 
          ALL RIGHT. 
          THIS NEXT SLIDE IS, UH, AGAIN, I WANTED TO SHOW, UH, HOW I'M CONSERVATIVE. 
          WHAT THIS IS LOOKING AT IS WHAT IF WE INCREASE THAT GROWTH ASSUMPTION TO 3.5%, THE HOLFORD ROAD STAYED AT 75 MILLION, THE DATA CENTERS, WHAT IF 50% OF IT CAME, CAME DUE? WHAT IF IN SOUTH GARLAND WE GOT 200 MILLION RATHER THAN THE A HUNDRED MILLION? AND AGAIN, REMEMBER, WE'RE CONTEMPLATING ESTIMATES OF UP TO 400 MILLION. 
          UH, WHAT THAT WOULD BASICALLY DO IS INCREASE THE TOTAL REVENUE TO 316, 4, 5 5. 
          AND AGAIN, THIS ISN'T OUT OF THE NORM. 
          I, I MENTIONED THAT TAX-BASED GROWTH HAS BEEN ABOUT 4.9% EACH YEAR. 
          I'M USING THREE POINT HALF. 
          MOST OF THAT IS COMING FROM, UH, SENATE BILL TWO, WHICH, UH, RESTRICTS OUR M AND O TAXES TO 3.5%. 
          NOT OUR TIFFS, BUT JUST ASSUMING STILL A MODERATE INCREASE IN TAX BASE, 316.5 MILLION OVER THE LIFE OF THE TIF 
          [01:35:01]
COMPARED TO 1 94. 
          SO JUST THOSE LITTLE TWEAKS DRASTICALLY CHANGE IT. 
          BUT AGAIN, I, I'M NOT SUGGESTING THAT THIS BECOME WHAT WE PUT IN THE TIF PLAN. 
          'CAUSE I, I TYPICALLY LIKE TO BE EXTREMELY CONSERVATIVE TO ENSURE WE'RE COVERING OUR OBLIGATIONS THAT ARE ON THE TABLE, WHICH I KNOW MAKES CONCERNS THAT WE'RE NOT GOING TO PERFORM. 
          BUT YOU NEVER KNOW WHAT'S GONNA HAPPEN. 
          I DON'T KNOW WHAT'S GONNA HAPPEN IN TWO YEARS, LET ALONE IN 2055. 
          AND I GUESS THAT KIND, WE'VE HAD A LOT OF DISCUSSION AND QUESTIONS ALREADY, BUT, UH, THAT WILL COME TO, IF, FOR THE ACTIONABLE ITEM ON THIS, IF, UM, THIS BOARD WOULD LIKE TO AMEND THE PROJECT PLAN TO INCLUDE THAT CONSERVATIVE PROJECTION AND THAT PROJECT. 
          AND THAT SOUNDS LIKE THERE WILL PROBABLY BE ONE MORE MOTION TO ALSO ADD THAT, UH, THE ORDINANCE BE WRITTEN IN A WAY THAT IF THE PROJECT DOES NOT, UH, COME TO FRUITION, WE WILL NOT BOND. 
          UM, QUESTION HERE ON A TIMELINE, HOW SOON WOULD WE KNOW WHEN THE WHEELS START COMING OFF? COULD BE TOMORROW,  NO, NO, I HAVEN'T ANSWERED MY PHONE. 
          I MIGHT HAVE A MESSAGE . 
          SO IF MINE HASN'T GONE OFF YET, BUT IT'S A, IT'S A VERY IMMINENT, THE WINDOW IS HERE. 
          IT'S A VERY IMMINENT PROJECT. 
          WE'RE WORKING ON IT QUICKLY EVERY DAY. 
          UM, SO THIS IS ONE, ONE OF MANY MORE STEPS TO COME. 
          SO, UM, IT'S, IT'S, IT'S RIGHT NOW THE WINDOW. 
          I MEAN, THEY'RE, UH, THEY'RE, THEY'RE, THEY'RE NEEDING TO PLAY IN 27. 
          AND IN ORDER TO BUILD SOMETHING IN THAT TIMEFRAME, WE'RE, WE'RE BURNING DAYLIGHT. 
          SO I WILL BE QUITE  CANDID ABOUT THAT. 
          IT'S, IT'S, IT'S A QUICK, IT'S A QUICK TURNAROUND, BUT ALL, ALL PLAYERS ARE COMMITTED TO MAKING IT HAPPEN. 
          THE TRUSTEE TOYOTA CAMRY, SOMETIMES THEY FAIL. 
          YEAH. 
          THE, I GUESS THINGS WE KNOW AT THIS POINT, FEBRUARY 4TH COUNCIL WILL BE SEEING A SIMILAR PRESENTATION TO THIS. 
          UH, IT IS ALSO CONTEMPLATED IF THE BOARD AGREES, AND UNFORTUNATELY THE CHAIR IS USUALLY WHO HELPS DO THIS, IF FOR THE TIFF TO PROVIDE THEIR RECOMMENDATION FOR CHANGES IS ALSO CONTEMPLATED BASED OFF OF WHAT OCCURS HERE TONIGHT. 
          UM, FROM THAT, WE WILL START ENGAGING WITH, UH, OUR ARCHITECTS AND OUR CIVIL ENGINEERS FOR DESIGN, WHICH DESIGN OF HOLFORD, DESIGN OF NAMAN, DESIGN OF YOUTH SOCCER COMPLEXES. 
          THEY WILL START ENGAGING THEIR ARCHITECTS WHO ARE, WILL BE SIMILAR, THE SAME ONES FOR DESIGN OF THIS STADIUM. 
          THEY WILL BE ON THE HOOK FOR WHATEVER COMES OF THIS. 
          WE'RE ON THE HOOK FOR WHATEVER COMES OF US FROM THERE. 
          IT'S AGREEMENTS ARE BEING PRODUCED RIGHT NOW. 
          THEY'RE GONNA HAVE THOSE IN THEIR HANDS. 
          THERE'S GONNA BE NEGOTIATIONS IF AN AGREEMENT CANNOT BE MADE. 
          WE WALK AWAY WAY. 
          AND THIS CAME UP, UH, IN OUR TELEPHONE, UH, CONFERENCE THE OTHER DAY THAT, UH, MY CONCERN WAS GETTING AHEAD OF OUR SKIS AND, UH, AGAIN, HOW MUCH CONTROL WE HAVE OVER THAT LAST NIGHT AS BOB, UH, WAS SAYING, UH, THAT WE CAME OUT SO MANY TIMES, YOU KNOW, WE GOT THE USL, WE GOT THE TEAM, WE GOT THIS AND THAT, AND THE BACKGROUND IS THE REST OF THE TIF. 
          BUT WELL, YOU KNOW, IT'S WATER UNDER THE BRIDGE NOW. 
          WE CAN'T DO ANYTHING ABOUT THAT. 
          WELL, AND AGAIN, WE, WE'VE BEEN WORKING ON IT FOR, YOU KNOW, THREE YEARS. 
          AND SO IT TAKES ON VARIOUS VERSIONS, IT GOES FAST, IT GOES SLOW, AND IT JUST KIND OF DEPENDS ON THE INFORMATION AT HAND. 
          AND SO I THINK WE'RE, WE'VE, BOTH PARTIES HAVE GOTTEN TO A POINT WHERE WE'RE, YOU KNOW, AGREEABLE TO THE MAJOR DEAL POINTS. 
          AND, AND, AND THE REST OF IT IS, AS MATT SAID, THE AGREEMENTS AND ALL THE THINGS THAT HAVE TO BE IN PLACE IN ORDER TO MAKE IT OFFICIAL AND MAKE IT HAPPEN. 
          UM, SO WE'RE, WE'RE MOVING FORWARD FEELING AS CONFIDENT AS YOU CAN BE ON A, ON A DEAL. 
          I MEAN, IT'S LIKE YOU SAID, IT'S, SO, OUR CONFIDENCE LEVEL IS, IS 90, 90, 90 8%. 
          UH, I DON'T THINK THAT THE CITY WOULD'VE SAID WHAT THEY SAID LAST NIGHT AND DONE WHAT THEY DID, HAD IT, THEY WOULDN'T BE SITTING HERE RIGHT NOW. 
          I I DON'T THINK WE'D BE HAVING THIS CONVERSATION TODAY. 
          RIGHT. 
          UM, YOU KNOW, AND A LOT OF WORK UP TO THIS POINT, I I, FOR EVERYBODY, AND UNFORTUNATELY Y'ALL GOT ME THE DEBBIE DOWNER, I'M JUST ALWAYS THINKING OF ALL THE REST. 
          SO I PROBABLY SHEDDING, I'M JUST WANT Y'ALL TO BE THERE. 
          I I WOULD, I PERSONALLY WOULD RATHER HAVE YOU SITTING RIGHT THERE TALKING ABOUT THE RISKS, BECAUSE YOU'VE GOT 250 SOMETHING THOUSAND PEOPLE THAT ARE GONNA BRING THE PITCHFORKS AND, YOU 
          [01:40:01]
KNOW, 3000 IN RIVER SET. 
          SO I, I, I DON'T LIKE PITCHFORKS. 
          THEY'RE, THEY'RE NOT MY FAVORITE. 
          IT'S NOT WHAT I DO. 
          SO, YOU KNOW, I, I LIKE TO BE PREPARED AND THAT'S WHERE I'M AT. 
          UM, YOU KNOW, IT, IT, IT'S SCARY, BUT CHANGE DOES NOT HAPPEN WITHOUT SOMEBODY LEAPING. 
          AS LONG AS IT'S NOT ME, OBVIOUSLY. 
          WELL, SORRY, THERE WENT MY PLAN. 
          OH, WELL, I, I, YOU KNOW, I JUST, MY DISCUSSION IS EVERYTHING I'VE SAID TONIGHT, YOU KNOW, YOU PUT IT OUT THERE WITH SOME PROTECTION, I DON'T WANT, I DON'T HATE IT. 
          OKAY. 
          NO, NOT AT ALL. 
          I MEAN, YOU, YOU DELIVERED ON WHAT YOU SAID WITH PROTECTING OUR ORIGINAL 50.8 MILLION, AND I'M GONNA PUT THAT ON YOU. 
          SOUNDS GOOD. 
          SO IF YOU READ WHAT WE'RE, WE'RE ONLY APPROVING THE RECOMMENDATION, THE DESIGN AND CONSTRUCTION. 
          I MEAN, HONESTLY, RIGHT NOW YOU'RE APPROVING JUST A CHANGE TO THE PROJECT PLAN. 
          SO THE NEXT STEP, COUNSEL HAS TO APPROVE Y'ALL'S RECOMMENDATION TO THE, THIS IS, THIS IS A RECOMMENDATION TO APPROVE A CHANGE TO THE ORIGINAL PLAN, INCORPORATE THIS WITH THE PROTECTIONS. 
          CORRECT. 
          AND THE TIME EXTENSION NUMBER FOUR OR D ON THIS IS ALREADY, I MEAN, WE'RE ALREADY, IF THE C HAPPENS, YEAH, D HAPPENS BECAUSE YOU CAN'T HAVE A BOND THAT ENDS BEFORE THE PROJECT. 
          SO, YOU KNOW, WE'RE, THE DISCUSSION ON THAT IS IF C DOESN'T HAPPEN, D'S DEAD IN THE WATER, UNLESS WE JUST WANNA BRING IN THE EXTRA REVENUE FOR NOW. 
          RIGHT. 
          SO, YOU KNOW, I'M, I'M GONNA LEAVE IT TO SOMEONE HERE. 
          I I SAY IF ANYBODY HAS ANY DISCUSSION, I'M, IF NOBODY HAS MORE QUESTIONS, MATT, IF I MISS ONE, HELP ME OUT. 
          BUT I WOULD MAKE A MOTION THAT WE RECOMMEND THE CHANGE TO THE PLAN WITH THE CONSERVATIVE NUMBERS PROVIDED WE MAKE THE EXTENSION TO THE FIVE YEAR EXTENSION. 
          THE 2055, THE 2055. 
          IS IT A SEVEN YEAR? YOU SAY FIVE IT'S SEVEN YEARS. 
          IT'S DECEMBER 31ST, 2055. 
          SO THAT ONE, THAT DATE 2055. 
          UM, WITH THE PROTECTIONS AND YEAH. 
          WITH THE, UH, PROTECTIONS OF IT BEING TO THIS PROJECT SPECIFIC, HOWEVER THE ATTORNEY WANTS TO WORD THAT. 
          OKAY. 
          LET ME TRY TO RESTATE IT JUST TO MAKE SURE EVERYONE'S IN AGREEMENT. 
          SO LET'S DO ITEM C FIRST SINCE WE'LL TRY TO MAKE SURE SO THE LAWYERS WON'T GET MAD AT ME TOMORROW. 
          SO ITEM C, UH, THE MOTION IS TO CONSIDER UPDATING THE TIF PROJECT PLAN TO INCLUDE THE CONSERVATIVE PLAN THAT WAS SHOWN HERE TODAY OF REVENUE EXPENDITURES AS WELL AS THE DEBT SERVICE AND CASH PAYMENTS FOR A PROPOSED PROFESSIONAL USE SOCCER TEAM. 
          OUR SOCCER COMPLEX, UH, LOCATED AT HOLFORD ROAD AND PRESIDENT GEORGE BUSH. 
          BARRING WITH PROTECTIONS TO ENSURE THAT IF REQUIRED DOCUMENTATION AND REQUIRED LEGAL DOCUMENTS ARE NOT APPROVED, THEN BONDS WILL NOT BE ISSUED AND THE PROJECT WILL NOT BE INCLUDED. 
          CORRECT. 
          I WOULD ADD THE WORDS WITH THE STIPULATION. 
          WITH THE STIPULATION AND EXTEND EXACTLY WHAT YOU SAID. 
          I KNOW I SAID IT EXACTLY THAT , IT'S, IT'S US FINANCIAL PEOPLE. 
          WE, I HAVE TROUBLE WITH WORDS. 
          WORDS ARE HARD. 
          ALL RIGHT. 
          SO THAT'S THE FIRST MOTION. 
          IS THERE HAVE ON THE DISCUSSION ON THAT? NO. 
          THINK IT PRETTY MUCH COVERS. 
          I HAD A QUESTION, BUT IT'S NOT FINANCIAL RELATED. 
          GO FOR IT. 
          YEP. 
          UM, I JUST WANTED TO ASK IF THE, BECAUSE WE'RE CUTTING INTO THE SPRING CREEK PRESERVE WITH, WITH LAND THAT WE BOUGHT. 
          NO, NO, WE'RE NOT. 
          NO. 
          THERE IS A HUGE LANDSCAPE BUFFER. 
          SO, YEAH. 
          SO I CAN ADDRESS THAT. 
          UM, WE, THE, THE, THE PROPERTY LINE STOPS AT THE BOUNDARY THAT IS CONSIDERED THE SPRING CREEK PRESERVE COUNTY PROPERTY. 
          SO THERE IS, UH, EVERY 
          [01:45:01]
INTENT FROM THE DESIGN TEAM TO NOT ONLY RESPECT THAT BUFFER, BUT TO IMPROVE IT. 
          SO THERE ARE SOME LIMITATIONS ON WATER RUNOFF FROM A DEVELOPED SITE INTO SPRING CREEK, ANYWHERE, UP AND DOWN, NOT JUST HERE. 
          IT'S ALL UP AND DOWN THAT AREA, ALL THE WAY, YOU KNOW, NORTH AND SOUTH. 
          AND SO, UH, OUR, OUR DESIGN TEAMS ALREADY BEEN MADE AWARE THAT WE'VE GOTTA MAKE SURE THAT, THAT THAT RUNOFF IS TAKEN INTO ACCOUNT. 
          UM, I WOULD ACTUALLY LIKE TO, WE HAVE A A, AN ENORMOUS, UH, PARKS AND WILDLIFE, I'M SORRY, A TEXAS FOREST SERVICE GRANT, UH, WHERE WE'VE GOTTA PLANT 10,000 TREES IN ABOUT THREE YEARS. 
          THIS IS A GREAT PLACE TO ACTUALLY ENHANCE THAT BUFFER. 
          UM, I KNOW THIS IS WAY MORE TREE INFORMATION THAN YOU PROBABLY ASKED FOR. 
          THIS IS EXACTLY WHAT I WANTED. 
          BUT HERE'S THE, BUT HERE'S THE THING. 
          THAT PROPERTY THAT'S RIGHT THERE IS FULL OF A LOT OF TREES THAT ARE NOT PARTICULARLY DESIRABLE SPECIES. 
          A LOT OF CEDAR, A LOT OF UNDERBRUSH. 
          WHAT'S UNIQUE ABOUT THAT ECOSYSTEM IS THE OLD GROWTH HAS SOME VERY SPECIFIC TREE SPECIES THAT COULD BE REPLANTED. 
          SO THAT WAY THAT TRANSITION IS ACTUALLY BETTER THAN WHAT IT IS RIGHT NOW IN IT'S WILD CONDITION. 
          'CAUSE IT WAS A RANCH AND IT HAD, YOU KNOW, GOATS AND COWS EATING IN THERE. 
          SO IT'S NOT THE, NOT THE BEST. 
          AND WE ACTUALLY CAN ENHANCE THAT QUITE A BIT AND TIE THE TRAIL FROM THE, FROM THE SOCCER COMPLEX INTO SPRING CREEK AND ACTUALLY MAKE THAT AN EXTENSION OF THE PARK. 
          UM, BUT IMPROVE IT AT THE SAME TIME. 
          SO WE'RE, WE'RE RIGHT THERE WITH YOU. 
          WE, IT'S A, WE KNOW HOW IMPORTANT IT'S TO US AND OUR PARK SYSTEM AND THE VOLUNTEERS THAT HAVE BEEN, GOSH, RUNNING AND MAINTAINING THAT PLACE FOR 40 YEARS. 
          OKAY. 
          AND ALSO, UM, I WAS JUST THINKING WITH, WITH ALL THE NEW NOISE POLLUTION, LIGHT POLLUTION'S GONNA BE INTRODUCED WITH THIS PROJECT, ARE THERE ANY LIKE ANTS TO THE WILDLIFE SO I CAN ADDRESS THE LIGHT NOW? THE WILDLIFE IS, WE DON'T, WE DON'T HAVE ANY INDICATION WHEN WE, WE DID INITIAL STUDIES THAT THERE'S ANY, I MEAN, IT'S A, THAT SITE IS AN ENORMOUS OPEN FIELD. 
          NOW. 
          THE, THE BUFFER AREA, UM, IN TERMS OF THE, THE LIGHTS, IS IT WE'LL BE USING, WE'VE ALREADY STANDARDIZED OUR LIGHT SYSTEM ON AN LED FULL CUTOFF, DARK SKY LEVEL, UH, LIGHT SYSTEM. 
          SO IT WOULD LIKELY BE THE EXACT SAME PRODUCT THAT WE PUT THERE THAT CONTROLS ALL THE LIGHT DOWN AND ON THE, ON THE PLAYING SURFACE, RATHER THAN AROUND SURROUNDING PROPERTIES. 
          DOES THAT ANSWER YOUR QUESTION? OKAY, THANK YOU. 
          OKAY. 
          I SECOND HER MOTION. 
          OKAY. 
          WE GOT A MOTION BY DODSON SECOND BY DUCKWORTH. 
          FURTHER DISCUSSION. 
          WE WANNA SEE WHO AGREES. 
          SHOW OF HANDS, THAT ONE'S UNANIMOUS. 
          NOW, WOULD ANYBODY LIKE TO TAKE ITEM D? I'D LIKE TO MAKE A MOTION THAT WE EXTEND THIS FOR SEVEN YEARS TO DECEMBER 31ST, 2055  TO DECEMBER 31ST, 2055. 
          I RECOMMEND. 
          I, SORRY. 
          I WOULD LIKE TO RECOMMEND THAT WE RECOMMEND THAT WE EXTEND, SORRY, MATT. 
          IT'S, IT'S BEEN AN HOUR AND 48 MINUTES. 
          SO WE'RE, YOU'VE, YOU'VE GONE INTO OUR, I WAS GONNA SAY, YOU'RE, YOU'RE USED TO ME. 
          I HAVE TO HUMOR MYSELF. 
          YEAH, THIS IS JUST LIKE THE GOOD OLD DAYS, RIGHT? IN THE SECOND BY DUCKWORTH, THE GOOD OLD DAYS, THE BAD OLD DAYS. 
          I, I DON'T KNOW. 
          OKAY. 
          ALL IN FAVOR AGAIN, UNANIMOUS. 
          OKAY. 
          ALL RIGHT. 
          CAN WE PUT THIS TRAIN BACK ON THE RAILS FOR A COUPLE OF SECONDS? UM, THAT ONE PASSES UNANIMOUSLY, FUTURE AGENDA ITEMS AND MEETING DATES. 
          UM, EVERYTHING THAT I'VE HEARD TONIGHT SAYS WE'RE PROBABLY GONNA HAVE TO MEET MORE, MORE REGULARLY. 
          UM, I, I, I DON'T KNOW WHAT THAT LOOKS LIKE YET. 
          UM, WOULD ANYBODY FROM STAFF LIKE TO JUMP IN ON THAT? SURE. 
          UH, I GUESS WHAT I WOULD PROPOSE IS, UM, WE ARE GONNA KNOW, BE FLEXIBLE, WHAT WE ARE GONNA KNOW A LOT MORE AFTER FEBRUARY 4TH. 
          SO LET US GET THROUGH FEBRUARY 4TH, AND THEN I WOULD SUGGEST THAT WE SEND OUT SOME, UH, I GUESS FIRST IS THIS TYPICAL DATE AND TIME? I THINK, ARE WE DOING, WE'RE, WE'RE KIND OF OFF SCHEDULE HERE. 
          WE'RE, WE'RE DOING, WE'RE TYPICALLY DOING A QUARTER AND WE PUSHED A WEEK OR SO FOR, WE PUSHED A WEEK FOR THIS ONE BECAUSE OF, WE HAD OTHER THINGS THAT WERE IN THE CITY REALM. 
          SO WE'RE USUALLY DOING THIRD WEDNESDAY FOURTH. 
          FOURTH TUESDAY, ISN'T IT FOURTH? WEDNESDAY FOURTH, YEAH. 
          SO THE NEXT ONE WOULD BE APRIL 23RD. 
          SO ON THE QUARTERLY BASIS, BUT I THOUGHT IT WAS WEDNESDAY, BUT OH YEAH, IT IS WEDNESDAY. 
          I HAVE ANOTHER TUESDAY. 
          YEAH. 
          SO, BUT WE'RE HERE BECAUSE OF YEAH, I WOULD UM, I SUGGEST YOU LOOK AT THE CALENDAR AND, AND SINCE SOME OF US ARE ON 
          [01:50:01]
MORE THAN ONE BOARD AND MAKE SURE WE DON'T OH, CORRECT. 
          THAT'S WHAT I WAS GONNA SUGGEST IS YEAH, I, I'M, I'M, IF THIS DAY AND TIME IS THE FOURTH, THE NEXT ONE, ONE SUGGESTION COULD BE FEBRUARY 19TH. 
          BUT LET, LET ME GET THROUGH FEBRUARY 4TH AND I'LL SEND OUT A LISTING OF OPTIONS FOR THE NEXT MEETING. 
          'CAUSE IT PROBABLY WOULD BE GOOD TO MEET EITHER LATE FEBRUARY OR IN MARCH, JUST TO GET AN UPDATE ON WHERE WE ARE WITH WHAT THE, YOU KNOW, WITH THE AGREEMENTS AND JUST MORE TO GIVE AN UPDATE, ESPECIALLY SINCE WE HAVE THIS CLAUSE THAT WE WANT TO BUILD INTO ABOUT THE BONDS, IF Y'ALL ARE OPEN TO THAT. 
          AND WE CAN JUST, THEN FROM THERE WE CAN FIGURE OUT OUR NEXT MEETING DATE AND WE CAN FIGURE OUT WHAT SCHEDULE WE NEED TO BE ON. 
          SO AFTER THE FOURTH, WE'LL MEET EITHER EVERY WEEK OR ONCE A YEAR. 
          , , OR BACK TO QUARTERLY. 
          WE'LL TRY TO, WE'RE GONNA STAY ON THE QUARTERLY. 
          WE'LL EITHER MEET ONCE A WEEK OR GO BACK TO QUARTERLY. 
          I, I THINK WE SHOULD, I MEAN, AS I WOULD BE FLEXIBLE AS A MEMBER OF THIS COMMITTEE, BECAUSE THIS IS SO VITALLY IMPORTANT. 
          IF WE NEED TO MEET EVERY OTHER WEEK FOR THE NEXT COUPLE OF MONTHS, I'M WILLING TO DO THAT. 
          TO SEE THIS. 
          WE MAY HAVE OBJECT MOVE FORWARD. 
          WE MAY HAVE AS LONG AS THIS, WE MAY, I MEAN THURSDAY. 
          OH, I'M SORRY. 
          I GET A CALL WEDNESDAY. 
          WEDNESDAY. 
          OR YOU, YOUR, WE STARTED A MASTER'S PROGRAM. 
          OH, OKAY. 
          BUT I'LL MAKE IT IF I, WHY DO YOU WANNA GET SMART? STAY HERE WITH US POLICY. 
          THAT'S WHY SHE'S GOING TO SCHOOL. 
          SHE'S LIKE, GOD'S, I DON'T WANNA BE WITH THESE PEOPLE HANGING OUT WITH Y'ALL. 
          I HAVE LOST SOME IQ POINTS. 
          . 
          WELL, THAT'S WHAT I, THAT'S WHAT I'LL DO IS AFTER FEBRUARY FOUR, FIVE WILL, I'LL GIVE SOME INDICATION ON WHAT I THINK I PROPOSE THE MEETING CADENCE SHOULD BE. 
          AND THEN TRY TO GET AN OUR, OUR COMMITMENT TO YOU IS, WE'LL LISTEN. 
          OKAY. 
          SO, UM, I, I HAVE, WE'VE TALKED ABOUT THIS WITH STAFF AND SEVERAL COUNCIL MEMBERS, AND I DON'T KNOW WHAT OTHER TIPS ARE DOING. 
          UM, OBVIOUSLY WE KNOW NOW THAT CITY COUNCIL APPOINTS THE CHAIR. 
          UM, ARE OTHER TIPS KEEPING THE SAME? WHAT ARE, WHAT ARE THEY DOING FOR CO-CHAIRS? WELL, Y'ALL ARE THE FIRST ONE TO HAVE A MEETING TOMORROW. 
          TIFF ONE'S HAVING A MEETING, BUT IN, IN ALL TIFFS, I WOULD SUGGEST THAT, UH, SO BY THE TAX CODE CHAPTER THREE 11, THE ANNUAL, THE ANNUAL RENEWAL OF A CHAIR HAS TO OCCUR WITH COUNCIL AND COUNCIL'S DECIDED TO DO THAT THROUGH AN INTERVIEWING STANDPOINT. 
          ELISE, UNDER OUR CURRENT MAYOR, THE CO-CHAIR IS STILL, I THINK, A VITAL ROLE THAT THE TIFF BOARD HAS THE OPTION TO APPOINT A, A CHAIR. 
          SO IF WE WANT TO CONTINUE DOWN THAT PATH, WHICH I WOULD SUGGEST JUST IN CASE, UH, MR. ABEL CAN'T MAKE A MEETING, AND WE NEED TO HAVE SOMEBODY STEP IN THAT, UH, Y'ALL LOOK TO, AT THE NEXT MEETING, TAKING ACTION TO APPOINT A CHAIR, UH, CO-CHAIR. 
          SO YOU PUT THAT ON THE AGENDA? YEAH, I'LL PUT ANY FUTURE ITEMS THERE. 
          DID WE, THAT'S, THAT'S WHAT WE'RE DOING IS FUTURE ITEMS. WE'RE IN THERE. 
          LOOK AT US. 
          SO, OKAY. 
          WE'LL MAKE SURE THAT'S ON THE NEXT ONE. 
          DOES ANYBODY ELSE HAVE ANY FUTURE DISCUSSIONS? YOU HAVEN'T RUN, SO I THANK YOU. 
          EVERYBODY'S STILL HERE. 
          Y'ALL DID GOOD. 
          I DID NOTICE WE HAD SOMEONE THAT STOPPED IN YEAH. 
          DID STEP IN, AND THEN SHE, SHE STOPPED IN FOR A COUPLE OF MINUTES AND TOOK, TOOK THE PICTURES AND SHE LEFT. 
          YEAH. 
          SO SHE TOOK PICTURES. 
          , I DON'T KNOW. 
          . 
          SHE, SHE DID. 
          WE, WE HAD, I'M LIKE, OH GOD. 
          THEY'RE GONNA START THROWING DIRTS BEFORE I EVEN GET OUT OF HERE. 
          . 
          WE, WE DID HAVE SOMEONE STOP IN. 
          YES. 
          UM, AND I, I WAS GOING TO INTERJECT AND ASK HER IF SHE WANTED TO SAY ANYTHING, BUT SHE LEFT. 
          SO IT'S TOO LATE. 
          YEAH. 
          BUT I, DOES ANYBODY ELSE HAVE ANYTHING? NO, EVERYBODY'S LIKE, PLEASE LET ME GO HOME. 
          MOTION TO ADJOURN. 
          I GUESS AT SEVEN FIFTY FOUR, I'LL CALL US. 
          ADJOURNED.
* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.