Jan 08, 2024 City Council

[CALL TO ORDER]

[00:00:03]

ALL RIGHT. WELL HELLO AGAIN.

WE'RE GOING TO GO AHEAD AND GET STARTED.

THE TIME IS 6:31P.M.

THIS WILL CALL TO ORDER THE CITY COUNCIL MEETING FOR THE CITY OF PRINCETON JANUARY 8TH, 2024.

WE WILL BEGIN WITH A ROLL CALL MYSELF.

. THANK YOU. THAT WILL TAKE US TO OUR INVOCATION.

TONIGHT WE HAVE MR. KELLY CARR WITH US.

WE JUST SAY TO OUR CITY COUNCIL AND OUR MAYOR, THANK YOU FOR RECONSIDERING AND BRINGING THIS BACK.

WE ARE SO EXCITED.

AND TO EVERYBODY, WELCOME TO 2024.

LET'S PRAY TOGETHER, OUR HEAVENLY FATHER, HOW WE COME TO YOU TONIGHT.

JUST THANKING YOU FOR THE AMAZING OPPORTUNITIES AHEAD OF US, LORD, FOR THE OBSTACLES THAT WE'VE OVERCOME BEHIND US.

AND LORD, HOW YOU HAVE LED US ALL THE WAY.

WE THANK YOU FOR THIS CITY, THIS COMMUNITY, AND WE ASK YOUR BLESSING UPON IT.

WE ASK AN UMBRELLA PROTECTION UPON THIS PLACE, UPON OUR CITY, UPON OUR SCHOOLS, UPON OUR POLICE AND FIRE AND FIRST RESPONDERS.

LORD, WE ASK THAT YOU WOULD BE WITH US IN ALL THAT WE DO.

GUIDE US. GIVE US YOUR WISDOM, LORD.

FOR WITHOUT THAT WE ARE LOST.

AND, WITHOUT A PADDLE.

SO, LORD, WE NEED YOUR HELP IN ALL THAT WE DO.

SO FORGETTING WHAT LIES BEHIND AND REACHING FORWARD TO THAT WHICH LIES AHEAD FOR THE PRIZE THAT YOU HAVE BEFORE US.

LORD, WE COMMIT OURSELVES TO YOU.

WE ASK YOU TO GUIDE IN TONIGHT'S MEETING AND AFFAIRS THAT ALL THAT IS DONE WILL BE DONE IN ACCORDANCE WITH YOUR WILL.

IF WE PRAY IN CHRIST'S NAME, AMEN.

ALL RIGHT. IF YOU'LL STAND WITH ME FOR THE PLEDGE OF ALLEGIANCE, PLEASE.

[PUBLIC APPEARANCE]

SPEAKERS ARE ALLOWED THREE MINUTES TO SPEAK.

THE COUNCIL IS UNABLE TO RESPOND TO OR DISCUSS ANY ISSUES THAT ARE BROUGHT UP DURING THIS SECTION THAT ARE NOT ON THE AGENDA, OTHER THAN TO MAKE STATEMENTS OF SPECIFIC FACTUAL INFORMATION IN RESPONSE TO A SPEAKER'S INQUIRY, OR TO RECITE EXISTING POLICY IN RESPONSE TO THE INQUIRY.

TONIGHT I HAVE MISS MAXINE ELLIS.

FEEL. STATE YOUR NAME AND ADDRESS, PLEASE.

MAXINE ELLIS, 914 BLUEWOOD STREET IN PRINCETON.

SO I WOULD LIKE TO PUT IN A REQUEST THAT WE DO A TRAFFIC STUDY ON THE BEAUCHAMP AND 380 TRAFFIC LIGHT GOING NORTH AND SOUTH, MORE GOING NORTH, DEPENDING UPON THE TIME OF DAY, PRETTY MUCH ALMOST ANY TIME, BUT ESPECIALLY MORNING, AFTERNOON, EVENING.

YOU CAN WAIT ANYWHERE FROM TWO MINUTES TO 20, 30 MINUTES TO MAKE A LEFT TURN AND IT'S NOT BECAUSE OF ALL THE TRAFFIC.

IT'S BECAUSE OF THE TIMING OF THE TRAFFIC LIGHT.

IT LETS FIVE CARS OUT.

AND I THINK I HAVE SUBMITTED SOMETHING WITH TXDOT FOR THAT REQUEST.

BUT I DO, YOU KNOW, I'M JUST ONE PERSON.

MAYBE THE VOICE OF THE CITY MIGHT HELP MAKE A DIFFERENCE.

THANK YOU, THANK YOU.

CLINT LAWRENCE.

CLINT LAWRENCE, 1304 EAST COLLEGE.

I'M HERE TONIGHT TO SPEAK ABOUT THE PROPOSED MEDICAL DISTRICT THAT IS ON THE AGENDA.

$15 MILLION TAXPAYER CENTERS, IN MY VIEW, IS A VALUE FOR A MEDICAL DISTRICT.

A MEDICAL DISTRICT BRINGS IN PROFESSIONAL JOBS AND SERVICES AND WILL ALSO IMPROVE THE QUALITY OF LIFE FOR AREA RESIDENTS.

HOWEVER, I DO HAVE A QUESTION.

WILL ANY PUBLIC FUNDS BE PAID OUT IN ADVANCE? IF SO, MAY I SUGGEST THE COUNCIL, THE CITY PUT IN PLACE A HARD DEADLINE FOR THE COMPLETION OF THE ACTUAL MEDICAL DISTRICT, PART OF THIS DEVELOPMENT OF NO MORE THAN 24 MONTHS.

THIS WOULD ENSURE THE TAXPAYERS WILL SEE A SIGNIFICANT RETURN ON THEIR INVESTMENT AND A REASONABLE AMOUNT OF TIME.

[00:05:01]

ALSO, IF THIS HOSPITAL WAS BUILT AFTER THE COMPLETION OF THE 380 BYPASS, THAT WOULD BE A LOT OF PUBLIC RESOURCES BEING TIED UP FOR POSSIBLY TEN YEARS BEFORE RESIDENTS WOULD SEE ANY BENEFITS.

I WOULD LOVE TO HAVE THIS MEDICAL DISTRICT IN PRINCETON, BUT THIS COUNCIL ALSO NEEDS TO PROTECT THE PUBLIC RESOURCES.

I ASK THIS COUNCIL TO PLEASE BE WISE AND BE SURE ANY AGREEMENT HAS PLENTY OF SAFEGUARDS FOR THE TAXPAYERS.

THANK YOU. YEAH.

AND THEN, DOCTOR RASHID, I HAVE YOUR REQUEST, BUT WE'RE ACTUALLY GOING TO LET YOU SPEAK DURING THAT SPECIFIC AGENDA ITEM.

OKAY. WAS THERE ANYONE ELSE HERE TONIGHT FOR PUBLIC APPEARANCE?

[MAYORS COMMENTS]

PURSUANT TO SECTION 551.0415 OF THE TEXAS GOVERNMENT CODE.

MAYOR REPORT ON ITEMS OF COMMUNITY INTEREST, INCLUDING EXPRESSIONS, THANKS, CONGRATULATIONS OR CONDOLENCE INFORMATION REGARDING HOLIDAY SCHEDULES, RECOGNITION OF INDIVIDUALS, REMINDERS ABOUT UPCOMING CITY COUNCIL EVENTS, INFORMATION ABOUT COMMUNITY EVENTS, AND ANNOUNCEMENTS INVOLVING AN IMMINENT THREAT TO PUBLIC HEALTH AND SAFETY.

NO ACTION WILL BE TAKEN ON ANY ITEM OF COMMUNITY INTEREST.

IN ADDITION TO THE FOREGOING, MAYOR WILL ADDRESS THE FOLLOWING SUBJECT MATTERS WE DO NOT HAVE ANYTHING TO ADDRESS TONIGHT.

THEREFORE, WE WILL JUMP RIGHT TO OUR CONSENT AGENDA.

[CONSENT AGENDA]

THERE WILL BE NO SEPARATE DISCUSSION OF THESE ITEMS UNLESS THE COUNCILMEMBER SO REQUESTS IN WHICH EVENT THE ITEM WILL BE REMOVED FROM THE CONSENT AGENDA AND CONSIDERED IN ITS NORMAL SEQUENCE. ON THE AGENDA TONIGHT WE HAVE OUR MINUTES.

FP20190536 FINAL PLAT FOR PRINCETON MEADOWS, BLOCK A, LOTS 1-6 PI2022 0779.

PRELIMINARY PLAT GARDEN HOMES AT PRINCETON PL 2022 1230 PRELIMINARY PLAT BEAUCHAMP PLAZA PHASE 2 RESOLUTION NUMBER 2024-01-08-R PARKS & REC.

BUILDING, RESOLUTION NUMBER EDC-2024-01-03-R03 PEDC BYLAWS, RESOLUTION NUMBER EDC 2024 0103R02 FOR PDC POLICIES AND PROCEDURES RESOLUTION NUMBER EDC 2024 0103 R01 FOR PDC RULES OF ORDER AND CODE OF CONDUCT RESOLUTION NUMBER CDC 2023 103R FOR CDC BYLAWS RESOLUTION NUMBER 2024 0108R1 FOR LIBRARY BUILDING RESOLUTION NUMBER 2024 010802 FOR COURT SECURITY DOOR RESOLUTION CDD 2024 0104R AND PERSONNEL POLICY AMENDMENTS.

COUNCIL? IF THERE'S NOTHING THAT YOU NEED TO PULL FROM THIS, IF I COULD GO AHEAD AND GET A MOTION, PLEASE.

YOUR HONOR, I DO HAVE ONE QUESTION.

THE RESOLUTION NUMBER CDC 2023 1003R.

IS THAT A MISPRINT? SHOULD THAT BE 2024? NO, THAT'S THE CORRECT NUMBER OKAY.

WITH THAT, I'LL MAKE A MOTION TO APPROVE.

OKAY. I'LL SECOND.

ALL RIGHT. WITH THAT, WE'LL DO A ROLL CALL.

YES. MOTION CARRIES SEVEN ZERO FOR THE APPROVAL OF THE CONSENT AGENDA, WHICH WILL TAKE US TO OUR REGULAR AGENDA TONIGHT.

[REGULAR AGENDA (Part 1 of 2)]

RECOGNITION. THE CITY OF PRINCETON WOULD LIKE TO ACKNOWLEDGE JESUS RODRIGUEZ FOR ACHIEVING 20 YEARS OF SERVICE WORKING FOR THE CITY OF PRINCETON POLICE DEPARTMENT.

JESUS RODRIGUEZ IS THE FIRST FULL TIME OFFICER FOR THE CITY TO REACH THIS IMPRESSIVE MILESTONE.

HIS DEDICATION HAS MADE A LASTING IMPACT ON THE CITY OF PRINCETON AND HIS RESIDENTS.

TONIGHT WE HAVE MR. CHIEF WATERS.

MADAM MAYOR, COUNCIL MEMBERS, THANK YOU FOR ALLOWING US TO, COME TO Y'ALL AND PRESENT, LIEUTENANT JESUS RODRIGUEZ.

AS YOU KNOW, THROUGHOUT MY WHOLE CAREER HERE, I HAVE WORKED HAND IN HAND WITH LIEUTENANT RODRIGUEZ.

AND I COULDN'T BE MORE PROUD TO ANNOUNCE HE'S THE FIRST, PRINCETON POLICE OFFICER TO START HIS CAREER WITH THE CITY OF PRINCETON AND LAST FULLY 20 YEARS.

AND SO THAT GOES TO SPEAK TO THE MAN, THAT HE IS ALSO WITHIN THAT HE'S ALSO, RAISED HIS FAMILY WITHINSIDE THE CITY OF PRINCETON.

SO NOT ONLY IS HE WORKING FOR THE CITY OF PRINCETON, BUT HE'S ALSO VESTED INTO IT.

WE DID HAVE A 20 YEAR CELEBRATION FOR HIM, A COUPLE OF WEEKS AGO.

AND SO I WOULD LIKE TO PRESENT HIM TO THE COUNCIL.

[INAUDIBLE] . SO ALSO DURING THIS TIME FRAME, LIEUTENANT RODRIGUEZ, IF YOU WILL TURN AROUND, TIFFANY HAS A PICTURE, THAT SHE'S GOING TO DISPLAY.

SO WHILE INSIDE THE POLICE DEPARTMENT, AS LONG AS I'M CHIEF AND HOPEFULLY FOR MANY YEARS AFTERWARDS, THAT PICTURE WITH THAT PLAQUE WILL BE DISPLAYED WITHIN THESE CITY HALL WALLS. THANK YOU, SIR.

YES, SIR.

[00:10:08]

WELL. FUNNY STORY.

GOOD EVENING EVERYONE.

FUNNY STORY REAL QUICK.

WHEN I FIRST APPLIED WITH THE CITY OF PRINCETON POLICE DEPARTMENT, AT THE TIME, THERE WAS A CHIEF HERE, A PART TIME CHIEF, I BELIEVE.

AND, HE GREETED ME WITH, UM, JOSE WHEN I WALKED IN THE DOOR.

BUT AT THAT TIME, I WAS EXCITED.

I WAS READY TO GO.

AND, YOU KNOW, I WAS EXCITED TO BE HERE.

SO I LET THAT SLIDE.

AND THROUGHOUT THE INTERVIEW, I KIND OF THREW IN THERE MY CORRECT NAME, JESUS, AND HOPING HE CAUGHT IT, WHICH I THINK IT DID.

BUT WHEN IT CAME TIME TO FILL OUT MY PAPERWORK, HE SPELLED MY NAME JESUS, BUT HE SPELLED IT WITH H A Y SUS JESUS.

AGAIN, I LET THAT SLIDE.

I LET IT GO. I WAS EXCITED, I WAS READY TO GO.

I WAS HAPPY TO BE HERE, AND THAT'S WHEN I KNEW THAT THE CITY OF PRINCETON WAS FOR ME.

SO THAT'S WHY I'M HERE.

AND AGAIN, I WANT TO THANK EVERYONE, ESPECIALLY CHIEF WATERS AND THE POLICE DEPARTMENT, THE OFFICERS.

IT'S BEEN A GREAT 20 YEARS.

I LOOK FORWARD TO TO DOING SEVERAL MORE YEARS, BUT IT'S BEEN A GREAT JOURNEY FOR ME.

I MET A LOT OF GREAT PEOPLE, MISS LISA, MR. SEAN. AMBER AND YOU GUYS.

SO AGAIN, THANK YOU ALL VERY MUCH FOR ALLOWING ME TO DO MY 20 YEARS HERE WITH PRINCETON.

SO THANK YOU SO MUCH.[INAUDIBLE] PICTURE? YES, ABSOLUTELY.

AND FOR CLARITY, WE HAVE CORRECTED HIS NAME IN OUR PERSONNEL POLICIES.

ALL RIGHT.

AND THAT WILL TAKE US TO OUR NEXT AGENDA ITEM 2024 004 RECOGNITION.

THE CITY OF PRINCETON WOULD LIKE TO RECOGNIZE SGT.

CRAWFORD, DETECTIVE SCOTT, DETECTIVE BRADFORD, SGT.

FLATT, OFFICER PEEPLES, OFFICER TOLER, AND TIFFANY WEST IN THEIR WORK AND THE QUICK RECOVERY OF THREE ABDUCTED CHILDREN.

SO IF I COULD CAN I HAVE THOSE OFFICERS THAT YOU HAVE RECENTLY NAMED MADAM MAYOR AND CITY COUNCILMEMBERS? SORRY, [INAUDIBLE].

SO IF I CAN WE HAVE SGT.

CRAWFORD, DETECTIVE SCOTT, DETECTIVE BRADFORD, SGT. FLATT, OFFICER PEEPLES, OFFICER TOLER, AND MS. TIFFANY WEST.

CAN YOU ALL COME STEP TO THE FRONT, PLEASE? SO I'M GOING TO PUT YOU ON ON THE SPOTLIGHT A LITTLE BIT IF IT'S OKAY.

WHERE'S TOLER AT? THERE YOU ARE.

COME ON, MAN, TOLER DOES NOT LIKE TO BE IN THE SPOTLIGHT, SO I'M JUST GOING TO KIND OF BRIEFLY READ OVER THE CASE, AS MANY OF Y'ALL ARE AWARE, A LITTLE BIT BEFORE, A LITTLE BIT BEFORE CHRISTMAS, WE HAD TO ISSUE OUT AN AMBER ALERT.

SO I KIND OF I'M GOING TO READ OVER, THE CIRCUMSTANCES BEHIND THE AMBER ALERT AND PRETTY MUCH WHAT'S THESE FINE INDIVIDUALS DID.

ON DECEMBER 20TH, 2023, THE PRINCETON POLICE DEPARTMENT WAS DISPATCHED TO A RECENTLY OCCURRED CHILD ABDUCTION.

THE CHILDREN WERE ABDUCTED BY THEIR BIOLOGICAL MOTHER, WHO DID NOT HAVE ANY RIGHTS TO THE CHILDREN AFTER THE COURT HAS RULED AGAINST HER FOR A BOND CONDITION FOR

[00:15:07]

OFFICERS QUICKLY RESPONDED AND BEGAN WORKING ON THE CASE TO PUT STATE AND NATIONAL NOTIFICATIONS OUT, AS DETECTIVES LEARNED THAT THERE MIGHT BE A POSSIBILITY THAT THE BIOLOGICAL MOTHER WOULD TRY TO LEAVE THE COUNTRY WITH THE CHILDREN.

THROUGH INVESTIGATIONS, IT WAS LEARNED THAT THE SUSPECT AND THE CHILDREN MIGHT BE IN AN APARTMENT COMPLEX IN PLANO.

DETECTIVES AND OFFICERS WORKED QUICKLY TO FIND THE LOCATION OF THE CHILDREN AND ARREST THE SUSPECT.

IT WAS LATER LEARNED THAT THE SUSPECT HAD PLANS TO TAKE THE CHILDREN TO DUBAI.

BECAUSE OF THESE OFFICERS QUICK ACTIONS AND CIVILIANS QUICK ACTIONS, THEY WERE ABLE TO BRING A RESOLUTION TO THIS CASE AND SAFELY RECOVER THE CHILDREN WITHIN A SHORT TIME FRAME.

SO BECAUSE OF THESE WONDERFUL ACTIONS, WE HAVE NOMINATED AND THEY HAVE BEEN AWARDED THE CERTIFICATE OF MERIT FOR EACH OFFICER AND CIVILIAN HERE. SO AS SOON AS I CALL OUT YOUR NAME, IF YOU DON'T MIND, WE'RE GOING TO TRY TO LINE UP RIGHT HERE WHILE YOU'RE RECEIVING THE CERTIFICATE, SERGEANT CRAWFORD. MISS TIFFANY WEST.

OFFICER PEEPLES [INAUDIBLE].

OFFICER TOLER.

DETECTIVE SCOTT.

DETECTIVE BRADFORD AND SERGEANT FLATT.

ALL RIGHT. WE'RE ACTUALLY GOING TO TAKE OUR NEXT ITEM OUT OF ORDER.

WE ARE GOING TO JUMP DOWN TO AGENDA ITEM 2024013.

RESOLUTION NUMBER 2024.01.08-03 DISCUSSION AND POSSIBLE ACTION ON A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE A COMBINATION TAX AND REVENUE. CERTIFICATES OF OBLIGATION.

MAYOR, COUNCIL.

I THINK WE HAVE GOT MR. JIM SABONIS HERE THAT CAN SPEAK ON THIS AS WELL.

BUT THIS IS THE RESOLUTION THAT WILL START THE PROCESS FOR OUR PARKS BOND AND A CO FOR SOME STREET PROJECTS AND SOME OTHER MISCELLANEOUS PROJECTS THAT WE HAVE IDENTIFIED IN THE NOTICE.

THANK YOU. JIM, DO YOU WANT TO GIVE THEM A BRIEF OVERVIEW? 13. [INAUDIBLE].

YOU'LL TURN YOUR MIC ON, PLEASE.

THERE YOU GO. THANK YOU. HAPPY NEW YEAR, MAYOR, COUNCIL MEMBERS, CITIZENS OF PRINCETON.

IT'S AN EXCITING TIME TO MOVE FORWARD WITH THE BOND PROGRAM AND TO FUND THE ENTIRE 2024 CAPITAL IMPROVEMENT PROGRAM.

I PREPARED A PRESENTATION TO SUMMARIZE WHAT WE'RE DISCUSSING, AND I'D LIKE TO WALK THROUGH THAT.

AND BEFORE I START, I'D LIKE TO SAY THAT THE CITY IS IN THE BEST FINANCIAL CONDITION IT'S BEEN IN ITS TIME OF EXISTENCE.

IT'S STRONG FINANCIALLY, IT'S BEEN WELL MANAGED.

ITS DEBT IS IN AN EXCELLENT STRUCTURE, ALLOWING US TO FUND A SIGNIFICANT CAPITAL IMPROVEMENT PROGRAM WITH NO IMPACT INCREASE TO THE AD VALOREM TAX RATE OF THE

[00:20:03]

WITH THAT, I'LL ASK YOU TO TURN TO THE THANK YOU TO THE SUMMARY PAGE.

WHAT WE'RE TALKING ABOUT IS FUNDING $80 MILLION OF CAPITAL IMPROVEMENT PROJECTS, $60 MILLION FOR PARKS AND RECREATION.

THE FIRST PHASE OF THE PHASE ONE, THE FIRST PHASE OF THE NOVEMBER PROPOSITION A THAT WAS APPROVED BY THE VOTERS.

AND THEN WE'RE GOING TO DO $20 MILLION OF A PACKAGE OF A GENERAL FUND IMPROVEMENTS, $15 MILLION FOR STREETS FOR PUBLIC SAFETY AND $1 MILLION FOR THE LIBRARY.

WE'RE GOING TO HAVE A STANDARD, VERY STANDARD BOND ISSUE, 25 YEARS OF AMORTIZATION WITH A TEN YEAR CAR, WHICH TEN YEAR PAR CALL, UH, PRETTY STANDARD INDUSTRY.

WE EXPECT POSITIVE CONFIRMATION OF THE CITY'S DOUBLE A MINUS BOND RATING.

IN FACT, WHEN WE DID OUR LAST BOND ISSUE, WE DISCUSSED THE ENTIRE BOND PROGRAM.

AND THAT WOULD BE PUT BEFORE THE VOTERS.

AND THEY ANTICIPATED IT AND ALL THE INFORMATION I'VE SEEN PRELIMINARY SINCE THEN HAS BEEN POSITIVE AND EXCEEDING THE POSITIVE INFORMATION WE GAVE THEM IN OUR ANALYSIS, WE USED THE CURRENT DOUBLE A MINUS TAX EXEMPT INTEREST RATES PLUS A BUFFER OF 25 BASIS POINTS FOR THIS ANALYSIS IN TEXAS.

IT'S COMFORT TO YOU, COUNCIL MEMBERS, MAYOR AND TO THE CITIZENS.

WHEN WE ISSUED THAT, THE TEXAS ATTORNEY GENERAL'S MUNICIPAL BOND, THE DEPARTMENT REVIEWS AND APPROVES EVERYTHING.

SO THEY MAKE SURE THAT ALL THE PROCESSES AND PROCEDURES WERE DONE CORRECTLY BOTH IN THE ELECTION AND IN OUR CERTIFICATE OF OBLIGATION PROGRAM.

AND THEY GIVE US CONFIRMATION THAT THIS IS DONE ACCORDING TO OUR STATE STATUTES.

AGAIN, THE ENTIRE PROGRAM CAN BE FUNDED, WITH NO IMPACT ON OUR EXISTING INTEREST IN SINKING TAX RATE BASED ON VERY CONSERVATIVE PROJECTIONS OF VALUE.

I ACTUALLY SPLIT THIS INTO TWO COMPONENTS WE'RE GOING TO HAVE AND IT'S DONE KIND OF TO MATCH HOW WE ACTUALLY HAVE TO FUND IT.

WE'LL ACTUALLY HAVE TWO SEPARATE BOND ISSUES.

ONE WILL BE THE GENERAL OBLIGATION BOND ISSUE, TO FUND THE $60 MILLION OF PROJECTS.

THE OTHER WOULD BE THE CERTIFICATE OF OBLIGATION, WHICH WOULD FUND THE PACKAGE OF OTHER ASSETS, THE STREETS, THE PUBLIC SAFETY AND THE LIBRARY IMPROVEMENTS.

WE'LL FUND THEM THROUGH A COMPETITIVE SALE ON THE SAME DAY, GENERATING ABOUT THE $80 MILLION THE SOURCES AND USES SHOWS THE ESTIMATED COST OF ISSUANCE AND UNDERWRITERS DISCOUNT.

IN SUMMARY, WE'LL BE ISSUING APPROXIMATELY $80,800,000 OF BONDS.

NOW, WHAT'S A LITTLE BIT COMPLICATED HERE IS THAT YOU'LL SEE THAT THE ACTUAL POWER AMOUNT IS LESS THAN THE ACTUAL AMOUNT OF FUNDS WE RECEIVE.

IN TODAY'S HIGH INTEREST RATE ENVIRONMENT, BOND PURCHASERS WOULD LIKE TO GIVE US A HIGHER INTEREST RATE TO THE MARKET RATE.

AND IT'S BECAUSE WHEN YOU WE'RE GOING TO BE SOLD TO INVESTMENT GRADE BOND FUNDS, THOSE HELD BY FIDELITY OR MAGELLAN OR BLACKROCK OR GOLDMAN, THEY'LL COMPETITIVELY BID TO BUY OUR BONDS AND ITS BOND HOLDERS.

WHEN THEY LOOK AT INTEREST RATES DECLINING, THEY HAVE TO MARK TO MARKET OR ON A DAILY BASIS.

WHEN INTEREST RATES MOVE, THEY MARK TO MARKET THEIR BONDS AND A HIGH INTEREST RATE ENVIRONMENT.

THEY LIKE TO BUY HIGH INTEREST RATE BONDS.

SO WE'RE EXPECTING THAT OUR INTEREST RATE ON OUR BONDS WILL BE ABOUT 4.49% ON THE GEO BOND AND ABOUT 4.31% ON THE CERTIFICATE OBLIGATION, BUT THEY MIGHT BID 5% OR 5.5% A HIGHER INTEREST RATE, WHICH, WHEN WE CALCULATE WHAT THAT MEANS, IS THAT THEY'LL PAY US MORE MONEY AT CLOSING THAN THE POWER AMOUNT OF BONDS.

NO, THEY DO THAT BECAUSE WHEN THEY MARK TO MARKET THEIR BONDS, A HIGHER RATE HAS LESS IMPACT IF INTEREST RATES FALL.

AND WHILE INTEREST RATES ARE HIGH NOW AND MAY STAY THERE, BUT OVER TIME THEY WILL FALL.

WHY DO WE DO THAT IN A COMPETITIVE SALE? WE JUST WANT TO KNOW WHAT THE CHEAPEST PRINCIPAL AND INTEREST THAT WE HAVE.

AND SO WE ALLOW THE BIDDERS TO SAY, YOU CAN BUY POWER BONDS, YOU CAN BUY DISCOUNT BONDS, YOU CAN BUY PREMIUM BONDS.

WE'RE LOOKING FOR A SPECIFIC DEBT STRUCTURE AND THE LOWEST COST AND BUT OUR ANTICIPATION WOULD BE.

THAT THEY'LL BUY THESE AT A PREMIUM.

UH, TOTAL PRINCIPAL INTEREST FOR THIS TRANSACTION WOULD BE ABOUT 143 MILLION, ABOUT 5.7 MILLION ON AVERAGE ANNUAL BASIS OVER THE 25 YEARS.

BUT HERE'S THE IMPORTANT THING.

YOU KNOW, OUR CURRENT INTEREST IN SEEKING FUND TAX RATE IS .1793, EXCUSE ME, .1794 AND UNDER THE MOST CONSERVATIVE ASSUMPTIONS, WE DON'T HAVE TO INCREASE THAT OVER THE FORESEEABLE FUTURE.

AND IN THE FORESEEABLE FUTURE, WE'LL HAVE CAPACITY TO FUND OTHER PROJECTS.

ON THE NEXT PAGE ACTUALLY SHOWS YOU THE DEBT.

AMORTIZATION ON THE SECOND COLUMN FROM THE LEFT SHOWS OUR EXISTING DEBT, AND THEN THE OTHER GROUPS OF COLUMN SHOWS HOW WE STRUCTURED THE PRINCIPAL

[00:25:05]

AND VERY SIMPLE. IF THIS PLAN OF ACTION IS APPROVED AND YOU APPROVE THE NOTICE OF INTENT THE CITY SECRETARY WILL HAVE THIS PUBLISHED ON THE WEBSITE AND THE PAPER OF RECORD, AND WE'LL WORK WITH THE STAFF TO PREPARE AN OFFERING.

DOCUMENTS ACHIEVE OUR BOND RATING AND MARKET THE GENERAL OBLIGATION BONDS AND THE CERTIFICATES OF OBLIGATION AND WE EXPECT TO RECEIVE COMPETITIVE BIDS ON THE MORNING OF MARCH 11TH AND TO BE ON THE AGENDA WITH ORDINANCE FOR THE APPROVAL.

WE'LL PRESENT THE RESULTS OF THE SALE.

AND AGAIN, WE ANTICIPATE A VERY COMPETITIVE AND HEALTHY BIDDING PROCESS FOR THOSE BONDS.

IF THE COUNCIL APPROVES THOSE BOND SALES DOCUMENTS ARE EXECUTED, SUBMITTED TO THE ATTORNEY GENERAL AND AFTER HIS APPROVAL, WILL CLOSE ON APRIL 9TH. IN SUMMARY, THIS IS A PLAN THAT REALLY HAS BEEN WORKED ON FOR OVER FIVE YEARS.

OVER A YEAR IT WAS PART OF THE INFORMATION PROVIDED TO THE BOND TO THE CITIZENS WHEN THE BOND ELECTION TOOK PLACE AND THE ONLY COMMENT I CAN MAKE ABOUT THE CHANGES IS THAT CONSISTENTLY DURING THE PROCESS, THE CITIES LOOK STRONGER AND ITS GROWTH HAS BEEN HIGHER THAN WE ANTICIPATED.

SO, THIS IS A REALIZATION OF THAT PLAN WITH THE ADDITIONAL FUNDING OF THE OTHER CAPITAL IMPROVEMENT PROGRAMS FOR THE 2024 CAPITAL IMPROVEMENT PROGRAM.

IN SUMMARY, AS YOUR FINANCIAL ADVISOR, I THINK WAS, WELL, ORGANIZED, WE EXPECT TO EXCEED THESE NUMBERS AND PRODUCE SOMETHING MORE EFFICIENT ON THE DATE OF SALE.

THAT CONCLUDES MY COMMENTS AND ANSWER ANY QUESTIONS.

PROVIDE ANY ADDITIONAL INFORMATION I CAN AT THIS TIME.

ALL RIGHT. THANK YOU MR. SABONIS I APPRECIATE YOUR PRESENTATION AND YOUR WORK ON THIS.

COUNCIL. DID YOU HAVE ANY QUESTIONS AT THIS TIME FOR MR. SABONIS. AND IF THERE ARE NO QUESTIONS, IF I COULD GET A MOTION, PLEASE.

YOUR HONOR, I MAKE A MOTION TO I DON'T KNOW IF I NEED TO THE CORRECT WORDING FOR THAT, BUT TO APPROVE THE RESOLUTION NUMBER 20204.01.08-R03. THREE.

I'LL SECOND. THANK YOU.

WITH THAT, WE'LL DO A ROLL CALL VOTE, . MOTION CARRIES SEVEN ZERO FOR THE APPROVAL OF AGENDA ITEM 2024.013, RESOLUTION NUMBER 20204.01.08-R03.

THANK YOU VERY MUCH MR. SABONIS. HAPPY AGAIN 2024 FOR EVERYONE AND LOOK FORWARD TO SUCCESSFUL EXECUTION WORKING WITH YOUR STAFF.

THANK YOU SO MUCH AND HAPPY NEW YEAR TO YOU AS WELL.

ALL RIGHT. WE ARE GOING TO GO BACK UP TO OUR AGENDA ITEMS. FOR NOW. WE ARE GOING TO MOVE PAST AGENDA ITEM 2024005.

WE WILL DISCUSS BOARD APPOINTMENTS AFTER WE GO TO EXECUTIVE SESSION.

THEREFORE WE WILL MOVE TO AGENDA ITEM 2024 .006.

PUBLIC HEARING SUP 2023 3002 DISCUSSION AND POSSIBLE ACTION REGARDING REQUEST FROM AND AFONSO TORRES FOR A SPECIAL USE PERMIT FOR A GUEST HOUSE ON A .0447 ACRE TRACT OF LAND IN THE [INAUDIBLE] SURVEY.

ABSTRACT NUMBER 957, CITY OF PRINCETON, COLLIN COUNTY, TEXAS.

GOOD EVENING, MAYOR, COUNCIL.

CRAIG FISHER, DEVELOPMENT SERVICES DIRECTOR.

THIS REQUEST IS FOR A SPECIFIC USE PERMIT FOR A GUEST HOUSE.

THIS PROPERTY IS ZONED SF ONE AND AS PER THE ZONING ORDINANCE AND SUP IS REQUIRED TO CONSTRUCT A GUEST HOUSE.

THE DEFINITION OF A GUEST HOUSE MEANS A LIVING QUARTERS WITHIN A DETACHED ACCESSORY BUILDING, LOCATED ON THE SAME PREMISE, WITH THE MAIN BUILDING FOR USE BY TEMPORARY GUESTS OF THE OCCUPANTS OF THE PREMISE AND NOT RENTED OR OTHERWISE USED AS A SEPARATE DWELLING.

STAFF FOUND THAT THERE'S GOING TO BE ADEQUATE SPACE ON SITE TO MAINTAIN THE CITY'S PARKING REQUIREMENT, IN ADDITION TO, AND ALSO ADDITIONAL PARKING CAN BE PROVIDED FOR THE GUEST HOUSE.

THIS WENT BEFORE THE PLANNING AND ZONING COMMISSION AT THEIR DECEMBER MEETING, AND THEY UNANIMOUSLY, UNANIMOUSLY RECOMMEND APPROVAL OF THIS ITEM.

BE HAPPY TO ANSWER ANY QUESTIONS YOU ALL MAY HAVE.

THANK YOU. SIR. I DO HAVE ONE QUESTION.

WILL THERE BE A DEED RESTRICTION ON THE PROPERTY THAT WOULD MAKE SURE THAT STAYS A GUEST HOUSE FOREVER? OR IF THESE PEOPLE DECIDE TO SELL THIS PROPERTY THIS NEXT YEAR, ARE THEY GOING TO HAVE TO GO INTO THE SAME STANDARDS AS THE GUEST HOUSE, OR CAN THEY RENT IT OUT?

[00:30:03]

SO THEY'LL BE HELD TO THE SAME STANDARDS TO MAINTAIN IT AS A GUEST HOUSE.

SO WE WILL MONITOR THAT MOVING FORWARD.

AND IF IT BECOMES AN ISSUE, WE'LL ENFORCE ACCORDINGLY.

I HAVE A QUESTION.

WILL THERE BE, TO YOUR UNDERSTANDING, IS THERE ANY INTENT TO USE THIS, LIKE AS AN AIRBNB? AIRBNB? SOME TYPE OF PROPERTY, OR IS THERE ANY RESTRICTIONS ON THAT UNDER THIS PARTICULAR REQUEST? WE DO NOT ENFORCE AIRBNB RENTALS, BUT IT'S MY UNDERSTANDING THAT'S NOT THE INTENT THAT THE HOMEOWNER WOULD LIKE TO USE THIS FOR VISITING FAMILY MEMBERS.

I DO BELIEVE THEY ARE HERE TO SPEAK TO THAT.

AND THAT'S WHAT I WAS REFERRING TO.

I MEAN, IF THEY GET IT AND THEN THEY DECIDE TO SELL, YOU KNOW, AND UNDERSTAND WHAT THEIR INTENT IS, AND THAT'S GREAT, YOU KNOW? AND BUT IF THEY DECIDE TO SELL THE PROPERTY, THEY GET A BIG OFFER ON IT THIS NEXT YEAR, THEY SELL IT.

THE NEW OWNERS, THEY COME IN, DO THEY HAVE TO HONOR THIS SAME SPECIAL USE PERMIT OR IS IT A.

THAT'S THE REASON WHY I'M ASKING SHOULD SHOULD THERE BE A DEED RESTRICTION THAT SAYS THAT THIS PARTICULAR HOUSE CANNOT BE RENTED OUT OR ANYTHING? CAN THEY DO THAT? I DON'T KNOW IF IT CAN BE DONE OR NOT.

WE CAN'T APPLY A DEED RESTRICTION ON THE PROPERTY.

YOUR SOLE ACTION TONIGHT IS TO, APPROVE THE SUP AND YOU COULD PLACE CONDITIONS ON THAT SUP.

AND THAT WOULD STATE THAT IF UNDER CERTAIN CONDITIONS THAT SUP WOULD BE NULL AND VOID.

SO IF YOU WERE TO SO CHOOSE TO APPROVE IT TONIGHT, I WOULD SUGGEST THAT YOU MAYBE PLACED SOME PLACE A CONDITION ON IT.

I WOULD ALSO LIKE TO BRING TO YOUR ATTENTION THAT THIS WILL REQUIRE AN ORDINANCE.

SO IF YOU SO CHOOSE TO APPROVE IT TONIGHT, AND WE'LL HAVE TO BRING AN ORDINANCE BACK, AND WE'LL AND I'LL PLACE THAT UNDER CONSENT.

I BELIEVE THAT IF MAKE A MOTION FOR THAT TO APPROVE IT, I'D LIKE TO SEE THOSE RESTRICTIONS PUT ON THERE BEFORE WE MAKE A MOTION.

WE DO NEED TO OPEN THE PUBLIC HEARING AND ALLOW THEM TO SPEAK.

SO DID ANYONE ELSE HAVE ANY QUESTIONS? NO. OKAY. IF NOT, THEN THE TIME IS 7:08.

WE WILL OPEN THE PUBLIC HEARING AND ALLOW THE PROPERTY OWNERS TO COME FORWARD.

ARE THEY NOT HERE? OKAY.

I THOUGHT YOU SAID THEY WERE HERE, I APOLOGIZE.

IS THERE ANYONE HERE TO SPEAK TO THAT TONIGHT? OKAY. IF NOT, WE WILL CLOSE THE PUBLIC HEARING PORTION OF THAT.

THE TIME IS STILL 7:08P.M.

GENTLEMEN, NOW THAT IS CLOSED.

YOU CAN GO AHEAD AND MAKE YOUR RECOMMENDATION OR MAKE YOUR MOTION.

YOUR HONOR, I MAKE A MOTION TO TO APPROVE IT TO WAS IT, WE'VE HAD THE PUBLIC HEARING TO BRING BACK AN ORDINANCE TO APPROVE IT, BUT TO ALSO PUT THE RESTRICTIONS ON IT, AS DISCUSSED.

YEAH. IF YOU SPECIFY THE SPECIFIC CONDITIONS AND THEN WE'LL INCLUDE THOSE IN THE ORDINANCE THAT WE BRING BACK FOR YOUR APPROVAL OKAY.

SPECIFIC CONDITIONS WOULD BE THAT IT SHOULD FOREVER BE A THE SPECIAL USE PERMIT JUST FOR A GUEST HOUSE NOT FOR RENTAL.

AND SHOULD THE PEOPLE SHOULD THE OWNERS.

WELL SELL THE PROPERTY, THEN I GUESS THE NEW OWNERS HAVE TO COME TO FORCE AGAIN TO GET A SPECIAL USE PERMIT AND WORK IT OUT AT THAT TIME.

DOES THAT MAKE SENSE? THAT'LL WORK.

WE UNDERSTAND. OKAY.

I'LL SECOND.

BEFORE WE MOVE FORWARD WITH THAT, MR. FORD. I'M SURE YOU ALREADY WILL. BUT I JUST WANT TO MAKE FOR SURE BEFORE WE MOVE FORWARD, THAT ORDINANCE, CAN WE CHECK WITH FAIR HOUSING LAWS TO MAKE FOR SURE THAT WE ARE ABLE TO PUT THAT RESTRICTION IN PLACE FOR THAT? YES, MA'AM. THANK YOU.

ALL RIGHT. WE ALREADY HAVE A SECOND IN PLACE.

THEREFORE WE WILL GO AHEAD AND MOVE WITH A VOTE ON THIS, . MOTION CARRIES SEVEN ZERO FOR THE APPROVAL OF AGENDA ITEM 2024 .006 PUBLIC HEARING SUP 2023 3002.

THIS WILL TAKE US TO AGENDA ITEM 2024 007 PUBLIC HEARING ANNEXATION CLEARHAVEN CONDUCT A PUBLIC HEARING REGARDING A REQUEST RECEIVED FROM AG FOR THE VOLUNTARY ANNEXATION OF PROPERTY. BEING A 45.55 ACRE TRACT OF LAND SITUATED COLLIN COUNTY, TEXAS.

BEING PART OF THE HARDIN WRIGHT SURVEY.

ABSTRACT NUMBER 957.

THE TIME IS 7:10P.M..

THIS WILL OPEN THE PUBLIC HEARING IF YOU ARE HERE FOR THAT, PLEASE COME FORWARD.

STATE YOUR NAME AND ADDRESS, PLEASE.

OKAY, SINCE THERE IS NO ONE HERE FOR THE PUBLIC HEARING, WE WILL GO AHEAD AND CLOSE THAT.

THE TIME IS NOW 7:11 P.M.

THIS WILL TAKE US TO AGENDA ITEM 2024 008, ORDINANCE NUMBER 2024.01.08 FOR CLEARHAVEN ANNEXATION, DISCUSSION OF POSSIBLE ACTION REGARDING AN

[00:35:04]

AND MR. FORT. OKAY.

THIS IS THE ORDINANCE THAT WILL GO ALONG WITH THE PUBLIC HEARING YOU JUST HELD FOR THE ANNEXATION.

AND THIS IS IN ACCORDANCE WITH THE DEVELOPMENT AGREEMENT THAT'S BEEN PREVIOUSLY APPROVED BY THE CITY COUNCIL.

THIS IS JUST ONE OF THE ACTIONS THAT'S REQUIRED TO BE TAKEN PER PART OF THAT DEVELOPMENT AGREEMENT.

THANK YOU. COUNCIL.

ANY QUESTIONS BEFORE WE MOVE FORWARD.

AND HAVE NO QUESTIONS. IF I COULD GET A MOTION, PLEASE.

I'LL GIVE A MOTION TO APPROVE AGENDA ITEM 2024-008, ORDINANCE NUMBER 2024-0108 FOR THE CLEARHAVEN ANNEXATION.

AND DO I HAVE A SECOND? I DO SECOND.

OKAY. WITH THAT WE'LL DO A ROLL CALL VOTE . THANK YOU. WITH THAT, THE MOTION PASSES SEVEN ZERO FOR THE APPROVAL OF AGENDA ITEM 2024.008, ORDINANCE NUMBER 2024 .01.08 FOR CLEAR HAVEN ANNEXATION. WE WILL MOVE TO AGENDA ITEM 2024.009 ANNEXATION AND DEVELOPMENT AGREEMENT DISCUSSION AND POSSIBLE ACTION REGARDING AN AGREEMENT BY IN BETWEEN THE CITY OF PRINCETON AND CPO HOLDING, LLC, SPECIFYING THE TERMS FOR ANNEXATION AND DEVELOPMENT OF A 20.8 ACRE TRACT OF LAND IN THE SARAH D.

TERRY SURVEY. ABSTRACT NUMBER 890, COLLIN COUNTY, TEXAS.

MAYOR. COUNCIL, THIS IS A ANNEXATION AND DEVELOPMENT AGREEMENT THE STAFF HAS BEEN WORKING ON WITH THE DEVELOPER.

THIS IS FOR 20 ACRE PROPERTY, OFF OF COUNTY ROAD 447 SOUTH OF HARPER.

PROPERTY IS CURRENTLY OUTSIDE OF THE OUTSIDE OF THE CITY LIMITS.

WE'VE WORKED WITH THE DEVELOPER TO, PREPARE AN AGREEMENT THAT WILL BRING IT INSIDE THE CITY LIMITS AND SPECIFY THE TERMS FOR DEVELOPMENT OF THE PROPERTY.

THE DEVELOPMENT WILL BE FOR A SINGLE FAMILY FOR RENT TYPE DEVELOPMENT.

AND I HAVE MR. MATT LEE WITH THE DEVELOPER REPRESENTATIVE HERE TONIGHT.

AND HE CAN GIVE YOU A BRIEF OVERVIEW OF THE PROJECT.

THANK YOU, MR. LEE.

GOOD EVENING, MADAM MAYOR AND COUNCIL MEMBERS.

MY NAME IS MATTHEW LEE. I'M WITH WESTWOOD PROFESSIONAL SERVICES.

IF YOU GUYS NEED OUR ADDRESS. IT'S 2901 DALLAS PARKWAY, PLANO, TEXAS.

AS SEAN MENTIONED, WE'VE BEEN WORKING WITH THE CITY STAFF, WHO'S BEEN GREAT TO WORK WITH FOR THIS, ROUGHLY 20.5, 20 POINT ACRE SITE OFF OF COUNTY ROAD 447.

THROUGH THE COURSE OF THE DISCUSSIONS WITH THE CITY, WE'VE, YOU KNOW, EXPLORED, YOU KNOW, WHERE THE UTILITY CONNECTION POINTS ARE, WHAT'S REQUIRED FROM ROADWAY IMPROVEMENTS, POSSIBLE DEVELOPMENT OPTIONS.

THERE IS FLOODPLAIN ON THE BACK OF THE PROPERTY THAT WILL HAVE TO BE STUDIED AS THE PROJECT MOVES FORWARD INTO THE PLANNING COMPONENTS AS WELL.

BUT CURRENTLY WE'RE PROPOSING 184 UNITS, 92 BUILDINGS, A COMBINATION OF ONE BEDROOM AND TWO BEDROOM UNITS.

AND WE FEEL IT WOULD BE A GREAT ADDITION TO THE CITY, AND I'D BE HAPPY TO ANSWER ANY QUESTIONS THAT I CAN.

THANK YOU, SIR AND MAYOR AND COUNCIL, WE HAVE REVIEWED THIS WITH OUR LEGAL REPRESENTATIVES AND WE BELIEVE IT'S READY FOR YOUR CONSIDERATION TONIGHT.

THANK YOU. I DID HAVE A QUESTION FOR YOU.

I JUST WANT TO SEE IF THIS IS A TYPO OR NOT.

YOUR TWO BEDROOM DUPLEX LOOKS TO BE ABOUT 450FT² BIGGER THAN YOUR THREE BEDROOM.

IS THAT ACCURATE? HONESTLY, I'D WANT TO HAVE TO GO BACK AND MEASURE THAT.

I'D WANT TO SAY THAT I MEASURED THOSE IN AUTOCAD AND THEY'RE ACCURATE, BUT I CAN DEFINITELY CONFIRM THAT.

COUNCIL. DID ANYONE HAVE ANY QUESTIONS FOR MR. LEE TONIGHT? IF NOT, WE CAN GO AND GET A MOTION, PLEASE. I'LL MAKE A MOTION TO APPROVE.

ITEM 202409 ANNEXATION AND DEVELOPMENT AGREEMENT.

THANK YOU. DO YOU HAVE A SECOND? I'LL SECOND. OKAY WITH THAT WE'LL DO A ROLL CALL.

VOTE MOTION CARRIES SEVEN ZERO FOR THE APPROVAL OF AGENDA ITEM 2024 009 ANNEXATION AND DEVELOPMENT AGREEMENT.

THANK YOU FOR BEING HERE TONIGHT, MR. LEE. ALL RIGHT, THAT'LL TAKE US TO AGENDA ITEM 2024 .010 INTERLOCAL COOPERATION AGREEMENT, CITY OF LOWRY CROSSING DISCUSSION AND POSSIBLE ACTION REGARDING AN INTERLOCAL COOPERATION AGREEMENT REGARDING EXTRATERRITORIAL JURISDICTION BY AND BETWEEN THE CITY OF LOWRY CROSSING, TEXAS AND THE CITY OF PRINCETON, TEXAS.

MAYOR COUNCIL, THIS ITEM, THIS AGREEMENT AND THE NEXT ITEM ON YOUR AGENDA, THE ORDINANCE ARE BOTH DIRECTLY RELATED.

[00:40:02]

STAFF HAS WORKED WITH OUR LEGAL REPRESENTATIVES AND MET WITH THE LEGAL REPRESENTATIVES OF THE DEVELOPER AND THE CITY OF LOWRY CROSSING.

AND THESE ARE THE REQUIRED DOCUMENTS THAT ARE NECESSARY TO EXECUTE THE EXCHANGE OF THE ETJ BOUNDARIES, SO THAT THIS DEVELOPMENT CAN CONTINUE TO MOVE FORWARD.

SO WITH THAT, MR. LOWRY IS AVAILABLE TO ANSWER ANY QUESTIONS, AND I CAN ATTEMPT TO ANSWER ANY QUESTIONS YOU MAY HAVE.

THANK YOU. ARE THERE ANY ADDITIONAL QUESTIONS TONIGHT? YOU HAVE NO QUESTIONS. I'LL ENTERTAIN A MOTION, PLEASE.

I'LL MAKE A MOTION TO APPROVE 2024-010 INTERLOCAL COOPERATION AGREEMENT, CITY OF LOWRY CROSSING.

DO YOU HAVE A SECOND? I'LL SECOND THAT.

THANK YOU. THAT WILL DO A ROLL CALL VOTE, . MOTION CARRIES SEVEN ZERO FOR THE APPROVAL OF AGENDA ITEM 2024 .010 FOR INTERLOCAL COOPERATION AGREEMENT WITH CITY OF LOWRY CROSSING.

THAT WILL TAKE US TO AGENDA ITEM 2024.011.

ORDINANCE NUMBER 2024 010801 PRINCETON LOWRY, CROSSING ETJ DISCUSSION OF POSSIBLE ACTION REGARDING AN ORDINANCE OF THE CITY COUNCIL.

THE CITY OF PRINCETON, TEXAS, ANNEXING HEREINAFTER DESCRIBED TERRITORY INTO AN EXTRATERRITORIAL JURISDICTION OF THE CITY OF PRINCETON, COLLIN COUNTY, TEXAS, AND EXTENDING THE BOUNDARY LIMITS OF SAID EXTRATERRITORIAL EXTRATERRITORIAL JURISDICTION SO AS TO INCLUDE THE DESCRIBED PROPERTY WITHIN THE EXTRATERRITORIAL JURISDICTION, RELEASING SEPARATE, HEREINAFTER DESCRIBED TERRITORY INTO THE EXTRATERRITORIAL JURISDICTION OF THE CITY OF LOWRY, CROSSING COLLIN COUNTY, TEXAS, AND REDUCING THE BOUNDARY LIMITS OF PRINCETON'S EXTRATERRITORIAL DISTRICT SO AS TO RELEASE THE DESCRIBED PROPERTY WITHIN THE EXTRATERRITORIAL JURISDICTION, PROVIDING INSTRUCTIONS FOR FILING THIS ORDINANCE AND FOR CORRECTING THE OFFICIAL MAP AND BOUNDARIES OF PRINCETON, PROVIDING A SEVERABILITY AND CUMULATIVE CLAUSES, AND PROVIDING AN EFFECTIVE DATE.

MAYOR COUNCIL.

ALL MY PREVIOUS COMMENTS APPLY TO THIS AS WELL.

SO. ALL RIGHT WITH THAT? IF ANYONE'S READY TO MAKE A MOTION.

MADAM MAYOR, I'LL MAKE A MOTION TO APPROVE ITEM 2024.011 ORDINANCE NUMBER 2024010801 PRINCETON LOWRY CROSSING ETJ.

THANK YOU.

HAVE A SECOND. I'LL SECOND THAT.

ALL RIGHT. WITH THAT, WE'LL DO A ROLL CALL VOTE, MOTION CARRIES SEVEN ZERO FOR THE APPROVAL OF AGENDA ITEM 2024.011.

ORDINANCE NUMBER 2024 010801 FOR PRINCETON AND LOWRY CROSSING.

AND I DON'T THINK I'VE EVER SAID EXTRATERRITORIAL JURISDICTION SO MANY TIMES IN LIKE 30S.

SO THAT WAS FUN.

ALL RIGHT. AGENDA ITEM 2024-012 MIXED USE DEVELOPMENT DISCUSSION REGARDING POTENTIAL MIXED USE DEVELOPMENT PROJECT REQUEST FOR DEVELOPMENT INCENTIVES.

AND MR. FORT, IF YOU WANT TO GO AHEAD AND KICK THAT OFF.

I DO KNOW THAT DOCTOR RASHID IS HERE TONIGHT.

MAYOR, COUNCIL, I BELIEVE THIS IS REQUESTED TO BE ON THE AGENDA BY MR. DEFFIBAUGH, THERE'S SOME ITEMS INCLUDED IN YOUR PACKET THAT, SUMMARIZE THE REQUEST.

STAFF WOULD LIKE TO BRING TO YOUR ATTENTION A COUPLE OF, SOME ITEMS THAT I THINK, YOU NEED TO CONSIDER WHEN YOU'RE REVIEWING THIS ITEM.

THIS PROPERTY, THAT'S THE SUBJECT PROPERTY THAT'S BEING REQUESTED.

NUMBER ONE IS INCLUDED IN AN OVERALL PUBLIC IMPROVEMENT DISTRICT, SO IT'S ALREADY RECEIVED, YOU KNOW, A TYPE OF INCENTIVE VIA PUBLIC IMPROVEMENT DISTRICT AND HAS AN ASSESSMENT ON THE PROPERTY OF A $1.8 MILLION.

THE REQUEST THAT'S IN YOUR PACKET IS FOR A REQUEST FOR, $15 MILLION WORTH OF INCENTIVES THAT INCLUDE THE CREATION OF A TERS, UH, 380 AGREEMENTS, EDC AGREEMENTS, AND, ALLOCATION OF IMPACT FEES TO PAY FOR INFRASTRUCTURE.

THE DEVELOPER, TO MY KNOWLEDGE, CURRENTLY DOES OR THE REQUESTER DOES NOT CURRENTLY OWN THE PROPERTY.

THIS DEVELOPMENT IS A MIXED USE DEVELOPMENT.

IT INCLUDES COMPONENTS OF RETAIL, HOTEL, MULTIFAMILY, THINGS LIKE THAT, ALONG WITH A POTENTIAL HOSPITAL. IT SHOULD BE NOTED THAT THERE'S A MULTIFAMILY PORTION IN HERE.

THE DEVELOPMENT THAT IT'S INCLUDED IN HAS ALREADY UTILIZED ALL OF ITS ORIGINAL, MULTIFAMILY COMPONENTS AND INCREASE THAT, AT LEAST ONCE THAT I KNOW OF, WHICH HAS NOT BEEN WELL RECEIVED BY THE COMMUNITY.

AND IT'S BEEN DISCUSSED BEFORE THIS COUNCIL ON NUMEROUS OCCASIONS, SINCE THE COMPONENT OF THE TERS WOULD HAVE LONG TERM

[00:45:07]

SO, FOR THOSE REASONS, I BELIEVE THE COUNCIL NEEDS TO TAKE SOME HEAVY CONSIDERATIONS ON HOW THEY MOVE FORWARD WITH THIS DEVELOPMENT TONIGHT OR WITH THIS REQUEST.

ALL RIGHT, DOCTOR RASHID.

COUNCIL MEMBERS. MAYORS.

MAYORS. GOOD TO SEE YOU AGAIN.

IT'S BEEN. MY NAME IS HAROON RASHID.

I'M A PHYSICIAN.

I OWN AND STARTED TEXAS PAIN PHYSICIANS.

WE'RE THE LARGEST PROVIDER OF CHRONIC PAIN MANAGEMENT FOR BACK PAIN, HEADACHES, ETC.

IN THE STATE OF TEXAS.

WE ALSO, OPERATE SEVERAL MEDICAL CENTERS, MEDICAL CLINICS ALL OVER THE STATE, PRIMARILY IN THE DFW AREA.

I CAME ACROSS THIS CONCEPT OR THIS IDEA BECAUSE I AM INVESTED IN A SINGLE FAMILY HOME DEVELOPMENT FOR ABOUT 315 HOMES JUST A FEW BLOCKS NORTH OF HERE.

AND I REALIZED THAT THE CITIZENS OF CITIZENS OF PRINCETON SIGNIFICANTLY LACKED ACCESS TO HEALTH CARE.

AND WHEN I DROVE AROUND, I'M THINKING, OKAY, WHEN WE DEVELOP THESE, HOUSES, WHO'S ACTUALLY GOING TO STAY HERE? GOING TO BE YOUNG, HEALTHY FAMILIES, PEOPLE'S GRANDPARENTS ARE COMING.

AND I NOTICED THAT THERE WAS A SIGNIFICANT DISTANCE TO GET TO EITHER MCKINNEY WHEN YOU'RE HAVING TRAFFIC ON 380, ETC.

TO GET TO BAYLOR, ETC THAT THERE IS A SIGNIFICANT LIMITATION OF HEALTH CARE RESOURCES.

UPON FURTHER EVALUATION, THERE'S ABOUT ALMOST 4000 EMERGENCY VISITS THAT HAVE TO LEAVE CITY OF PRINCETON AND GO TO OTHER EMERGENCY HOSPITALS OR EMERGENCY CENTERS.

WITH THAT BEING SAID, I SAID, I THOUGHT TO MYSELF, HEY, WHY DOESN'T HRMD OUR DEVELOPING COMPANY AND MY MANAGEMENT HEALTH CARE MANAGEMENT COMPANY COME UP WITH A CONCEPT THAT WOULD REALLY BENEFIT THE CITIZENS HERE? WE'VE BEEN WORKING ON THIS PROJECT FOR ABOUT A YEAR AND A HALF.

I DID HAVE THE OPPORTUNITY TO SPEAK WITH THE MAYOR, AND IT WAS ALL VERY WELL RECEIVED, EVEN BY THE EDC.

IN THE PAST YEAR AND A HALF, WE SPENT CONSIDERABLE AMOUNT OF RESOURCES WITH RESEARCH AND DEVELOPMENT.

WE ACTUALLY HAVE A CONCEPT VIDEO WHICH I CAN SHOW YOU GUYS PRIVATELY, BUT FOR THIS FORUM WE WEREN'T ON THE AGENDA, SO I DIDN'T HAVE THE FULL, THE FULL PRESENTATION READY.

AS A RESULT, THE CAMPUS IS A 30 ACRE CAMPUS UNDER WHICH WE ARE UNDER A LETTER OF INTENT WITH INTERNATIONAL CAPITAL GROUP THAT HAS DONE A LOT OF WORK HERE.

WE SPENT MONTHS AND MONTHS AND MONTHS WITH ARCHITECTS, WITH LAND PLAN, ETC.

COMING UP WITH THE THE BEST EXPERIENCE FOR THE CITIZENS AND THE BEST ACCESS TO HEALTH CARE.

TYPICALLY WHAT HAPPENS IS WITH HEALTH CARE, IT'S JUST A HODGEPODGE OF DOCTORS THAT WANT TO COME.

YOU KNOW, SOMEBODY OPENS A PEDIATRIC OFFICE HERE, AN EMERGENCY CENTER THERE, ETC.

AND SLOWLY OVER THE COURSE OF MANY TEN, 20, 30 YEARS, YOU START GETTING CERTAIN ASPECTS OF THE MEDICAL COMMUNITY.

WHAT I REALIZED WAS IN THE PROCESS OF DOING THE MULTI OR SORRY PROCESS OF DOING THE SINGLE FAMILY HOMES, IS THAT THE GROWTH, THE POPULATION GROWTH OF THE CITY IS COMPLETELY OUTSTRIPPING THE INFRASTRUCTURE AND HEALTH CARE.

THE HEALTH CARE IS STILL LIGHT YEARS BEHIND WHERE IT NEEDS TO BE TO PROVIDE SERVICES FOR THE COMMUNITY, IN PARTICULAR PEDIATRICS, ORTHOPEDIC, CARDIOLOGY, GYNECOLOGY.

THESE ARE ALL THE THINGS THAT THE CITY REALLY NEEDS.

AS FAR AS OUR CAMPUS, I'VE HAD SIGNIFICANT INTEREST FROM THE MEDICAL COMMUNITY.

NATURALLY, I CAN'T GO PUBLIC AND SPEAK TO OUR PLANS JUST BECAUSE WE'RE STILL IN THE DEVELOPMENT PHASE, AS YOU GUYS CAN UNDERSTAND.

BUT WE'VE HAD SIGNIFICANT INTEREST FROM NOT JUST MY OWN MEDICAL GROUP, BUT MY CARDIOLOGY FRIENDS, MY ORTHOPEDIC GROUP THAT WE WORK WITH CLOSELY, PEDIATRIC GROUPS, ETC.

IF YOU LOOK AT THE CAMPUS, IT'S NOT JUST A HOSPITAL WITH SOME OTHER RETAIL.

THERE'S THREE MEDICAL OFFICE BUILDINGS, ALMOST 90,000FT² OF MEDICAL OFFICE SPACE.

NATURALLY, THESE THINGS GET FILLED UP OVER TIME.

YOU KNOW, IT'S NOT A SWITCH.

YOU DON'T CLICK A SWITCH.

AND ALL OF A SUDDEN, A CITY OF PRINCETON HAS 100,000 RESIDENTS AND MASSIVE AMOUNT OF CITIZENS AND DOCTORS COMING.

BUT THIS HAPPENS IN PHASES.

WITH THIS PLAN, THESE PHASES ARE GOING TO HAPPEN QUICKER.

THERE'S SIGNIFICANT INTEREST ALREADY FROM THE MAJOR HOSPITAL PLAYERS.

AS YOU CAN IMAGINE, THEY WANT TO CAPTURE THIS MARKETPLACE BEFORE IT LEAKS TO SOMEBODY ELSE.

AS WE ALL KNOW, THE MEDICAL CENTERS ARE CLOSE TO HERE, ALL WHICH HAVE MAJORITY OF WHICH I'VE ALREADY HAD PRIVATE DISCUSSIONS WITH, HAVE A SIGNIFICANT INTEREST ON THIS CAMPUS.

SO WHAT I'M REQUESTING IS IF YOU'RE LOOKING AT A SEVERAL HUNDRED THOUSAND SQUARE FEET OF HOSPITAL AND OFFICE SPACE, AS OUR HOSPITAL AND

[00:50:07]

THEY HAVE A PLACE TO STAY, THE HOTEL SOMEPLACE WHERE DOCTORS, TRAVELING, NURSES, PEOPLE THAT WANT TO LIVE CLOSE TO THEIR CAMPUS CAN LIVE IN MULTIFAMILY.

SO THAT WHEN YOU'RE LOOKING AT OUR MULTIFAMILY THERE, IT'S NOT WHATEVER MULTIFAMILY THAT'S RUNNING UP AND DOWN 380, IT'S DOCTORS, NURSES, PEOPLE LIKE MYSELF THAT WANT TO BE CLOSE TO WORK.

RIGHT. THESE ARE NURSES THAT WANT TO STAY CLOSE.

WHEN YOU'RE LOOKING AT THE RESTAURANTS, WHEN YOUR FAMILY IS GETTING, WAITING FOR A DOCTOR'S APPOINTMENT OR WAITING FOR SURGERY, THERE'S RESTAURANTS WHERE PEOPLE CAN GO TO.

I ALSO WANTED A CAMPUS THAT JUST DOESN'T DIE AT 5P.M., RIGHT? I WANTED THERE TO BE LIFE, SOMETHING WHERE THE CITY CAN BE PROUD OF, GOING TO A CAMPUS.

SO IF YOU'RE LOOKING AT OUR PROPOSAL THERE AND THIS IS THE CONCEPT PLAN, AND I KNOW IT LOOKS A LITTLE SIMPLE, BUT THIS TOOK THIS TOOK OVER SIX MONTHS TO COME UP WITH JUST IN ORDER TO FOR US TO GIVE YOU GUYS A CONCEPTUAL UNDERSTANDING OF WHERE WE'RE LOOKING AT.

INCLUDED IN THIS, YOU'LL SEE, IS THE PROPOSED TXDOT DEVELOPMENT OR EXPANSION FOR THE BYPASS THAT'S COMING IN.

SO THAT TOOK SEVERAL MONTHS JUST FOR US TO KIND OF ACCOUNT FOR THAT, WHERE WE COULD STILL HAVE UTILIZATION OF THIS PROPERTY IN THE EVENT THAT TXDOT COMES TODAY OR 5 OR 10 YEARS FROM NOW. SO IN ORDER FOR IT TO STILL BE VIABLE.

SO WE FEEL THAT THIS CAMPUS, THE HEALTH CARE JOBS ALONE, WILL BE ABOUT 500 JOBS DIRECT AND ABOUT 1500 INDIRECT JOBS JUST FROM THE HOSPITAL ITSELF.

TYPICAL HOSPITAL WITH TEN, PER HOSPITAL BED.

YOU HAVE ABOUT TEN JOBS, SO ABOUT 50.

YOU KNOW, WE HAVE A SMALL FOOTPRINT INITIALLY OF A HOSPITAL TO GET STARTED BECAUSE, YOU KNOW, YOU'RE NOT GOING TO COME AND BUILD A MASSIVE HOSPITAL UNTIL THE CITY HAS CAUGHT UP.

BUT THEY JUST LIKE THEY DID IN METHODIST RICHARDSON, THE HOSPITAL HAD AN EMERGENCY ROOM, A SMALL HOSPITAL, AND THEY KEPT ON EXPANDING TILL NOW.

THEY HAVE THIS MASSIVE HOSPITAL ON RENNER AND GEORGE BUSH IN RICHARDSON.

SIMILARLY, THIS IS A VERY GOOD STARTING POINT.

SO IF YOU LOOK AT THE PURPLE BUILDINGS ON THE RIGHT SIDE, MEDICAL OFFICE BUILDINGS, WHICH I HOPE MY GROUP WOULD ALSO BE OCCUPYING, AS WELL AS THREE MEDICAL, THREE OF THOSE OFFICE BUILDINGS. THE HOSPITAL SAID THEY'RE IN FRONT OF THE HOSPITAL.

YOU'RE GOING TO HAVE RETAIL AND RESTAURANTS, WHICH YOU'RE JUST GOING TO NEED THAT.

THAT'S WHAT A HOSPITAL CAMPUS NEEDS.

AND THEN FINALLY WITH THE HOTEL AND ACTUALLY, IF YOU LOOK AT THE MULTIFAMILY, IT'S A VERY SMALL FOOTPRINT AND IN MY VISION WAS TO PROVIDE HOUSING FOR PEOPLE THAT ARE WORKING IN RELATED TO THIS CAMPUS.

SO THIS IS AN INCREDIBLE CAMPUS WHERE RATHER THAN WAITING FOR AN ORGANIC GROWTH FOR DOCTOR BY DOCTOR, INDIVIDUAL BY INDIVIDUAL COMING IN OR TRICKLING INTO THE CITY, BY THE CITY OF PRINCETON PARTNERING WITH US OR HELPING US WITH THIS PROJECT, HAVING AN ANNOUNCEMENT.

HEY, WE'RE CREATING A MEDICAL DISTRICT.

THIS THING IS GOING TO HAPPEN LIGHT YEARS FASTER THAN IT WOULD OTHERWISE, AND I'M WILLING TO PUT MY MONEY WHERE MY MOUTH IS.

AND I'M ALREADY RECRUITING OUR DOCTORS.

I HAVE SEVERAL PHYSICIANS THAT ARE INTERESTED, AND IN THE NEXT COUPLE OF MONTHS, WE HAVE SOME, VERY SIGNIFICANT DISCUSSIONS WITH SOME OF THE MAJOR HOSPITAL GROUPS.

MY REQUEST IS TO HAVE THE OPPORTUNITY TO SIT DOWN WITH THE CITY TO DISCUSS WHAT TYPE OF INCENTIVES.

WHAT WE'RE REQUESTING IS JUST A VERY SMALL AMOUNT COMPARED TO WHAT THIS CAMPUS, THIS CONSTRUCTION IS ABOUT $150 MILLION DEVELOPMENT. IT IS NOT SOMETHING SMALL.

IT'S NOT GOING TO HAPPEN WITHIN 12 MONTHS OR 24 MONTHS.

BUT WHAT IT'S GOING TO DO, IT'S GOING TO BE A DEVELOPMENT THAT'S GOING TO BREATHE A LOT OF LIFE INTO THE CITY.

SO WITH THAT, I HUMBLY REQUEST THE OPPORTUNITY TO SIT DOWN WITH THE CITY, WITH THE CITY, TO HAVE THESE DISCUSSIONS SO THAT WE COULD SHARE OUR VISIONS AND TO SEE WHAT IS FINANCIALLY FEASIBLE AND AVAILABLE TO US.

THANK YOU. THANK YOU VERY MUCH.

JUST A COUPLE OF TALKING POINTS.

ONE SPECIFICALLY BEING I KNOW THAT YOU HAD SAID THAT YOU AND I HAVE MET IN THE PAST AND THAT I WAS IN SUPPORT OF YOUR PROJECT AND THAT, AS IS ABSOLUTELY TRUE, WHEN YOU INITIALLY BROUGHT THIS OVER, I WAS IN SUPPORT OF THIS.

HOWEVER, I DO BELIEVE THAT THE CONCEPT OF THIS HAS CHANGED CONSIDERABLY SINCE OUR INITIAL CONVERSATIONS.

ONE OF THE MAIN FACTORS BEING THAT INITIALLY THIS WAS A CONCEPT.

NOW YOU'VE ACTUALLY PICKED A PIECE OF LAND THAT YOU ARE INTERESTED IN THAT IS ALREADY INCENTIVIZED.

IT'S VERY HARD FOR ME TO ADD $15 MILLION ONTO A PROJECT THAT IS ALREADY INCENTIVIZED, AS WELL, AS IT'S IN AN AREA THAT WE DO NOT WANT MORE MULTIFAMILY ON.

I THINK THE ORIGINAL SCOPE OF THIS PROJECT WAS SOMETHING THAT WAS GOING TO BE VERY CONDUCIVE TO OUR CITY.

I THINK THE IDEA OF HAVING A MEDICAL DISTRICT HERE IS SOMETHING THAT WE ALL NEED, AND YOU CAN AGREE TO THAT.

WE NEED. HOWEVER, I DO LOOK AT THIS AND I SEE THAT THERE ARE MORE MULTIFAMILY THAN THERE ARE ACTUAL HOSPITAL BEDS.

LOOKS LIKE IN YOUR CONCEPT DRAWING.

[00:55:02]

I DON'T PERSONALLY SEE THAT AS A MEDICAL COMMUNITY.

SO TO ME, I THINK WE HAVE DEVIATED FROM WHAT THAT ORIGINAL CONCEPT PLAN WAS.

SO I JUST WANT TO MAKE FOR SURE THAT WE ARE UNDERSTANDING EACH OTHER IN THAT, YES, INITIALLY I DID SUPPORT THIS PROJECT.

HOWEVER, THIS PROJECT HAS VASTLY CHANGED.

I ALSO KNOW THAT YOU SPOKE, ON BEHALF OF THE EDC AND WHAT THEIR IDEA WAS WITH THIS.

SO I DO ACTUALLY HAVE OUR EDC CHAIR HERE TONIGHT, AND I WOULD LIKE HIM TO SPEAK TO THIS AS WELL, JUST TO GIVE THE SENTIMENT OF THE EDC BOARD WHEN YOU PRESENTED THAT.

THANK YOU, MADAM MAYOR.

DISTINGUISHED COUNSEL.

I DID HAVE THE PLEASURE OF MEETING INITIALLY ON THE MEETING, WE HAD TWO MEETINGS IN.

IT WAS DISCUSSED AT ONE OF OUR PREVIOUS EDC MEETINGS.

WE WERE IN LOVE WITH THE IDEA, JUST AS MANY OF YOU ARE TODAY.

WE DO RECOGNIZE THE NEED FOR THE HOSPITAL DISTRICT FOR US.

UPON THE DISCUSSION OF IT AND LOOKING AT IT, IT WAS THE VIABILITY OF IT IN TERMS OF THE DOLLARS AND CENTS WHEN IT CAME DOWN TO, YOU KNOW, COULD WE AFFORD IT? IT WAS IT JUST WASN'T FEASIBLE FOR US AT THE TIME.

SO THAT'S PRETTY MUCH WHY WE DECIDED THAT WE WEREN'T ABLE TO DO IT FOR THE EDC.

THANK YOU. AND THEN ALSO, I JUST WANT TO SAY, I KNOW THAT YOU HAD MENTIONED THAT $15 MILLION WAS A DROP IN THE BUCKET, $15 MILLION IS A LOT TO THE CITY OF PRINCETON.

AND SO I UNDERSTAND THE MAGNITUDE OF YOUR PROJECT, BUT $15 MILLION WORTH OF INCENTIVES IS RATHER LARGE TO US.

UNFORTUNATELY, I DO NOT SUPPORT THIS AT THIS TIME.

I ALSO WOULD LIKE, YOU KNOW, I MEAN, I'M JUST GOING TO IT'S ALREADY INCLUDED HERE AS AN ATTACHMENT, AND I'M SURE YOU'VE SEEN IT AS WELL, THAT WE DID SEE AN EMAIL THAT CAME THROUGH THAT YOU ARE CONSULTING WITH OUR PREVIOUS CITY MANAGER TO GET HELP WITH THOSE INCENTIVES.

TO ME, THAT'S A CLEAR CONFLICT OF INTEREST AND IT'S JUST NOT SOMETHING THAT ETHICALLY I CAN SUPPORT ON THAT REGARD.

BUT, GENTLEMEN, PLEASE WEIGH IN.

ANY OTHER IDEAS IF I MAY RESPOND? ACTUALLY, HANG ON JUST A MOMENT, PLEASE.

JUST REMEMBER IN YOUR DISCUSSIONS THAT THIS IS NOT ANYTHING THAT WE ARE TAKING ACTION ON TONIGHT.

THIS IS NOT AN ACTION ITEM.

THIS IS SPECIFICALLY FOR DISCUSSION.

IF THERE IS SOMETHING IN THE FUTURE THAT YOU WANT ON HERE AS AN ACTION ITEM, YOU'RE ABLE TO ADD THAT AT THE END.

BUT WE ARE NOT TAKING ACTION ON THIS TONIGHT.

OKAY. I'D LIKE TO STILL SEE US GO FORWARD AND TAKE A LOOK AT IT AND NEGOTIATE A LITTLE BIT MORE.

AND WITH MR. MASHBURN COMING ON BOARD HERE IN A COUPLE OF WEEKS.

I THINK IT'D BE A GOOD IDEA FOR HIM TO SIT DOWN AND TALK TO HIM AND THINGS LIKE THAT, BECAUSE HE MAY HAVE SOME EXPERTISE COME FROM HIS, FROM THE CITY HE'S COMING FROM THAT MIGHT BE ABLE TO LEND SOME AID TO US AND I THINK IT'D BE A GOOD IDEA TO DO THAT.

YOU KNOW, WE JUST DON'T NEED TO KICK IT OUT, KICK THE BUCKET DOWN THE ROAD, BUT WE NEED TO TAKE A LOOK AT IT BECAUSE THE I THINK WE ALL AGREE THAT A HOSPITAL WE'VE BEEN TALKING ABOUT THAT FOR A LONG TIME.

WE REALLY DO NEED SOME MEDICAL.

I MEAN, THERE'S NOTHING BASICALLY EAST OF 3 OR 75 IN COLLIN COUNTY.

YEP. NO. ABSOLUTELY.

MEDICAL DISTRICT IS GREAT, BUT NOT THIS PARTICULAR CONCEPT PLAN.

BUT, I KIND OF AGREE ALSO THAT THE MULTI-FAMILY FACILITY BECAUSE IN WHERE I HAVE HEARTACHE WITH THAT IS THAT ONE TIME BEFORE WE HAD A THE PROJECT THAT CAME IN DOWN ON COLLEGE STREET WITH ALL THE, I GUESS, APARTMENTS OR TOWNHOMES OR WHATEVER THEY WANT TO CALL THEM, DUPLEXES.

YOU KNOW, WHERE I'M TALKING ABOUT DOWN THERE? IT WAS SOLD TO US THAT IT WAS GOING TO BE MAINLY FOR TEACHERS TO LIVE THERE, BECAUSE TEACHERS THAT WERE THE SCHOOL WAS GROWING THAT NEEDED I DON'T THINK THERE WAS 2 OR 3 TEACHERS LIVE THERE.

YEAH. AND SO, WITH LOOKING AT THAT, I SEE THE SAME THING HAPPENING IN THAT.

SO BECAUSE YOU JUST CAN'T SAY, WELL, UNLESS YOU HAVE A, UNLESS YOU'RE A NURSE OR A DOCTOR, YOU CAN'T LIVE HERE.

YOU CAN'T DO THAT. SO.

BUT THEY'VE JUST OPENED UP A CAN OF WORMS. BUT I DO THINK WE STILL NEED TO, KEEP OUR FEELERS OUT AND IN, FINE TUNE IT OR WHATEVER.

AND THEN IF IT'S NOT FEASIBLE, THEN IT'S NOT FEASIBLE.

OKAY, GENTLEMEN, I DO APPRECIATE THAT, AS THIS IS A CONCEPT PLAN, RIGHT? BECAUSE WHEN WE HAD INITIALLY PRESENTED, ALL OF, YOU KNOW, WE HAD MULTIFAMILY, HAD X, Y, AND Z, THE MULTIFAMILY WAS A DISCUSSION POINT AND THAT WE WERE FLEXIBLE WITH. IT DOESN'T MAKE OR BREAK THE CAMPUS.

WHAT'S IMPORTANT IS CAN WE BRING THE MEDICAL COMMUNITY, RIGHT? IF YOU BRING THE MEDICAL COMMUNITY ON SUCH A LARGE CAMPUS, THE MEDICAL COMMUNITY DOESN'T NEED COMPLETE 30 ACRES, BUT IT'S AVAILABLE.

SO THE CONCEPT BEING THAT IF WE CAN BRING LIFE TO THE MEDICAL COMMUNITY, TO THE CAMPUS, AND I DO SUPPORT WHAT THE MAYOR IS SAYING, THAT IF THE

[01:00:04]

BUT I DO SEE A NEED FOR RESTAURANTS RIGHT? WHEN I'M DOING SURGERY IN A HOSPITAL, MY FAMILY'S THERE WAITING FOR ME 2 OR 3 HOURS AND ALL TO HAVE THIS EXPENSIVE FOOD IN THE HOSPITAL CAFETERIA.

WHEN FAMILIES ARE COMING TO VISIT RIGHT NOW, WHERE ARE THEY GOING TO STAY? RIGHT. SOMEONE'S HAVING SURGERY.

THAT'S WHY THE HOTEL CONCEPTS.

SO THERE'S A SPECIFIC REASON FOR EACH ONE OF THOSE BUILDINGS BEING ON THERE.

AND I DO SUPPORT THE MAYOR WITH HER VISION SAYING THAT, HEY, IF THIS IS TOO MANY APARTMENTS THAT CAN BE REPURPOSED, WHAT I THINK IS GOING TO BE IMPORTANT IS TO HAVE THAT DISCUSSION TO SAY, HEY, WHAT IS THE THUMBS UP AND THUMBS DOWN? WITH REGARDS TO THE CITY MANAGER? THE CITY MANAGER HAS NOT BEEN RETAINED, BEEN HIRED OR NOTHING BY US.

HE WAS OUR SINGLE AND ONLY POINT OF CONTACT REGARDING THIS PROJECT AT THE TIME OF HIS DEPARTURE.

WE TILL TODAY.

I DON'T KNOW WHY THE DEPARTURE OCCURRED, BUT THAT WAS HER SOLE POINT OF CONTACT AND IT'S NATURAL FOR US TO ASK HIM, HEY, WHAT ADVICE DO YOU HAVE IN ORDER TO ENGAGE THE CITY COUNCIL, WHICH IS THE EXTENT OF OUR ENGAGEMENT WITH HIM? SO I PUT THAT ASIDE.

WHAT I'D LIKE TO SAY IS THIS PROJECT IS BIGGER THAN ANY ONE PERSON OR MULTIFAMILY.

THE PROJECT IS ABOUT BRINGING HEALTH CARE AND ACCESS TO HEALTH CARE TO THE CITY AND THE CITIZENS, MYSELF AND MY PAIN MANAGEMENT BUSINESS AND MY PAIN MANAGEMENT CLINICS.

WE HAVE PROVIDED HEALTH CARE TO RURAL COMMUNITIES ALL OVER THE STATE OF TEXAS.

AND I KNOW THAT THE DISTANCE FROM A PERSON TO THE DOCTOR, A PERSON, A FAMILY, TO THE HOSPITAL, TO THE EMERGENCY ROOM, IT MAKES A DIFFERENCE ON THE HEALTH OF THE COMMUNITY.

SO I'D LIKE TO KEEP THAT AS THE FIRST AND FOREMOST FOCUS, TO HAVE THE DISCUSSION TO SAY FROM THE MAYOR AND FROM THE CITY COUNCIL, THE CITIZEN.

WHAT DO YOU GUYS LIKE ABOUT IT, WHAT YOU GUYS DON'T LIKE ABOUT IT? AND I THINK THAT WOULD BE A VERY FAIR POINT FOR HALF THE DISCUSSION.

WE'D WELCOME THAT.

THANK YOU. I AGREE, I WELCOME THE PROJECT AS WELL, BUT I WOULD LIKE TO SEE THE PHASES OF IT, LIKE PHASE ONE, PHASE TWO, PHASE THREE AS YOU BUILD IT OUT.

BECAUSE AS IT AS PRESENTED IT REALLY WOULD SEEM TO BURDEN THE CITY QUITE A BIT, BUT IF IT'S DONE IN A PHASED WAY, I THINK IT WILL BE MORE MANAGEABLE.

BUT IT IS SOMETHING THAT IS VERY WELL NEEDED.

THANK YOU. I LIKE THE CONCEPT AS WELL.

SHORT OF THE MULTIFAMILY UNIT THAT KIND OF KILLS IT FOR ME.

SEEING THAT WHERE THIS IS LOCATED, THERE'S ALREADY PLENTY MULTIFAMILY SURROUNDING THIS THAT COULD SATISFY WHAT YOUR ULTIMATE VISION IS TO PROVIDE RESIDENTS FOR NURSES THAT WANT TO NURSES OR DOCTORS THAT WANT TO LIVE CLOSER TO THE CAMPUS.

TO ECHO.

MR. DAVID GRAVES.

I WOULD LIKE TO SEE A PHASE PLAN AS TO WHAT HOW YOU WOULD LIKE TO SEE THIS DEVELOPED.

AND I ALSO WANT TO KNOW IF THERE'S ANY, HOSPITAL SYSTEMS THAT HAVE THAT YOU'VE SPOKEN WITH THAT WOULD BE COMMITTED TO, YOU KNOW, THIS PARTICULAR CAMPUS.

THERE ARE TWO HOSPITAL SYSTEMS IN SPECIFIC THAT WE'RE IN, KIND OF BEHIND THE DOORS CONVERSATION WITH ANOTHER ONE COMING UP IN A WEEK OR TWO.

BUT I NEED TO GET SOMETHING LIKE THIS.

THE CHICKEN OR THE EGG.

THEY'RE VERY INTERESTED ABOUT HOSPITALS THEY'RE CONSERVATIVE IN MAKING THEIR MOVES.

ARE THEY INTERESTED? VERY INTERESTED.

RIGHT. SO WE'RE IN A PHASE WHERE WE HAD SOME REALLY GOOD DISCUSSIONS WITH THE MAYOR AND WITH HER VISION THE EDC VISION AND WHAT THE CITY NEEDS.

SO IT'S KIND OF TIMING THEIR CHICKEN OR THE EGG.

RIGHT. WE'RE ABOUT TO YOU KNOW, WE WANT TO MAKE A MAJOR INVESTMENT HERE.

AND THAT'S WHY WE'RE I'D LIKE TO HAVE THESE DISCUSSIONS.

AND WE'RE ALSO UNDER A LETTER OF INTENT WITH THE LANDOWNER.

SO WHEN THE HOSPITAL ASKS, HEY, WHICH IS THE EXACT PIECE OF LAND, YOU KNOW, SOME STUFF IS I CAN'T DISCLOSE, SO THEY DON'T, KIND OF, YOU KNOW, STIR THE POT A LITTLE BIT, AS YOU COULD IMAGINE. BUT IS THERE INTEREST? ABSOLUTELY. IF YOU JUST LOOK AT WHERE ARE THESE PATIENTS CURRENTLY GOING? RIGHT. AND WE DON'T HAVE TO DISCUSS SPECIFIC HOSPITAL NAMES.

THE CITY OF PRINCETON PATIENTS ARE GOING TO PROBABLY TWO DIFFERENT HOSPITALS.

WHICH DO YOU HAVE ANY.

SORRY. DO YOU HAVE ANY LETTERS OF INTENT FROM HOSPITAL FROM ANY OF THE HOTEL OR ANY OF THE RETAIL COMPONENTS? DO YOU HAVE ANY LETTERS OF INTENT FROM ANY POTENTIAL USERS FOR THIS DEVELOPMENT? NO, WE HAVE NOT APPROVED.

WE HAVE SPOKEN TO SEVERAL DEVELOPERS.

WE HAVEN'T EVEN DISCLOSED THE ACTUAL, THE ACTUAL SITE, FOR EXAMPLE.

BUT WE HAVE A MEETING AS TOMORROW WITH, THE SOMEBODY FOR THE HOTEL, I THINK IN TWO WEEKS WITH ANOTHER HOSPITAL.

SO THESE ARE ALL IN THE BOOKS.

IT'S HARD FOR ME TO DO SOMETHING WITH JUST AN LOI WITH THE LAND AND THEN NOT HAVING A DIRECTION FROM THE CITY FOR ME TO PIECE THESE THINGS TOGETHER.

BUT AS FAR AS THE INTEREST, THERE'S A MASSIVE INTEREST.

NOT JUST FROM THAT, FROM MY OWN MEDICAL GROUP, FROM MY FRIENDS THAT OWN A CARDIOLOGY GROUP, ANOTHER FRIENDS OF MINE THAT OWN A LARGE ORTHOPEDIC GROUP.

SO THESE ARE KIND OF DISCUSSIONS.

BUT IT'S ONE OF THOSE THINGS, MR. FORT, WHICH IS KIND OF A CHICKEN OR THE EGG.

IF WE HAVE A LITTLE BIT OF ADVANCED DISCUSSIONS WITH THE CITY THAT WE CAN START CLOSING ON THE LAND AND THEN BRINGING THOSE LOI'S.

[01:05:12]

WAS THERE WHEN.

EXCUSE ME? WHEN THIS WAS PRESENTED TO THE EDC, WAS THERE ANYTHING THAT THE EDC ASKED DOCTOR RASHID TO BRING BACK, OR WAS THERE ANYTHING FURTHER THAT THAT YOU GUYS REQUESTED IN ORDER TO HAVE SOME BETTER INSIGHT OR.

YEAH, JUST METRICS, SOME NUMBERS IN TERMS OF, YOU KNOW, THE STAKEHOLDERS, WHAT ARE THEY PUTTING IN, WHAT'S ASKED OF US? WE'RE GETTING THE NUMBER OF WHAT WAS REQUIRED OF US, BUT THERE WASN'T ENOUGH INFORMATION TRANSPARENCY IN TERMS OF THE OVERALL NUMBERS OF WHAT THE STAKEHOLDERS ARE PUTTING IN. SO WE WANTED TO GET THOSE METRICS BACK TO MAKE SURE WE'RE MAKING AN INFORMED DECISION.

THANK YOU. YOU KNOW WHAT YOU'RE SAYING, DOCTOR RASHID, IS THAT YOU? IT'S DIFFICULT FOR YOU TO PRODUCE THAT WITHOUT MORE INPUT FROM THE CITY.

YEAH. THE CONCEPT AS IT STANDS, FOR EXAMPLE, IF YOU'RE SAYING, HEY, WE'RE COMPLETE, YOU KNOW, WE'RE GOING TO PUT AN X ON THE MULTIFAMILY, BUT THE OTHER STUFF IS FEASIBLE, THEN WE CAN WORK AROUND THAT. SO WE PUT SOME THE METRICS WE DID WAS IF YOU LOOK ON THE SCALE ON THE I GUESS ON THE ON MY BOTTOM, ON THE BOTTOM LEFT HAND, YOU'LL HAVE THE SIZED ACRES SQUARE FOOTAGE.

SO THOSE ARE SOME OF THE NUMBERS.

AND YOU CAN ADD A FACTOR OF A X NUMBER OF DOLLARS OF DEVELOPMENT PER SQUARE FOOT FOR EACH TYPE.

SO THOSE ARE THINGS THAT WE DO HAVE ON A IN A ROUGH SENSE.

AND THAT'S WHAT WE WANT TO COME AND HAVE A DISCUSSION WITH.

WHAT WOULD BE THE CITY'S APPETITE AND CAPACITY TO HELP WITH INCENTIVES ON THE PROGRAM.

AND THIS IS YOU KNOW, WE SPEND, LIKE I SAID, SIX MONTHS WORKING ON THIS.

IT'S NOT SET IN STONE, BUT I BELIEVE THAT THIS IS A WORKABLE CAMPUS.

NOW WE CAN MOVE SOME OF THE BUILDINGS AROUND.

WE CAN ADD MORE, SUBTRACT MORE BASED ON WHAT THE CITY FEELS.

HEY, THIS IS OF BENEFIT TO THE CITIZENS AND WHAT THEY CAN AFFORD.

BUT RIGHT NOW WE'RE KIND OF IN A FLEXIBLE STAGE.

BUT JUST TO GET TO THIS POINT, WE PUT IN SOME CONSIDERABLE AMOUNT OF EFFORT.

AND I WE DO HAVE A VERY NICE CONCEPT VIDEO THAT, YOU KNOW, BECAUSE IT WASN'T APPROPRIATE FOR THIS PARTICULAR MEETING BECAUSE THE WAY WE'RE ON THE AGENDA.

BUT AND WE'RE MORE THAN WELCOME, I'D LOVE TO SHOW IT TO YOU AFTERWARDS, ETC.

AND I THINK WHEN YOU SEE THE CONCEPT VIDEO, IT'S A BEAUTIFUL CAMPUS THAT'S REALLY GOING TO BREATHE LIFE INTO THE COMMUNITY.

HAVE A QUESTION JUST FOR CLARITY ON THIS, I KNOW YOU SAID THIS IS KIND OF LIKE A CHICKEN AND EGG TYPE SITUATION.

SO I WANT TO SEE REALLY THE DIRECTION THAT YOU'RE TAKING THIS AS FAR AS THE LOI'S GO, THE HESITATION FOR THE LOI ON THE HOSPITAL GENERALLY WOULDN'T HINGE ON THE INCENTIVES THAT YOU WOULD GET FROM A CITY.

SO ARE THEY NOT ISSUING THE LIE BECAUSE YOU DON'T HAVE THE LAND PURCHASE, AND THEN THE LAND PURCHASE IS HINGED ON THE INCENTIVES? IS THAT KIND OF THE DIRECTION THAT THIS IS GOING? YES. THAT'S CORRECT.

I HAD A QUICK QUESTION. SO WE HAD OTHER COUNCIL MEMBERS.

YOU'VE DISCUSSED, PHASES, AND I DON'T KNOW IF YOU HAVE THE PHASES PLANNED OUT AT THIS POINT OR NOT, BUT THIS IS TITLED A MEDICAL DISTRICT. RIGHT.

AND SO YOU BEING A DOCTOR, I WOULD ASSUME THAT THE IMPORTANT PIECE OF THIS OR THE NUMBER ONE IMPORTANT PIECE OF THIS IS THE HOSPITAL AND THE MEDICAL BUILDINGS.

AND SO IF WE DO BRING THIS OUT IN PHASES OR YOU DO BRING THIS OUT IN PHASES, IS THE HOSPITAL AND THE MEDICAL BUILDINGS GOING TO BE THE MOST IMPORTANT BUILD ON THIS, OR ARE YOU GOING TO LOOK AT TRYING TO BUILD THE HOTEL, THE MULTIFAMILY, THE RETAIL, ALL OF THAT, FIRST TO START BRINGING IN MONEY AND THEN WITH THE PROMISE OF MEDICAL BUILDINGS AND A HOSPITAL COMING IN LATER PHASES, BECAUSE I THINK OUR RESIDENTS, IF THEY SEE MEDICAL DISTRICT, THEY'RE GOING TO EXPECT RIGHT AWAY MEDICAL BUILDINGS AND A HOSPITAL AND NOTHING ELSE. IF EVERYTHING ELSE COMES LATER IN EXTRA PHASES, THAT'S GREAT.

BUT TO TITLE IT MEDICAL DISTRICT.

AND THEN WE SEE HOTEL, RETAIL, RESTAURANTS, MULTIFAMILY.

OH, BY THE WAY, YES, THERE IS A HOSPITAL UP THERE.

THEY'RE JUST GOING TO WANT TO KNOW WHAT REALLY IS THE INTENT HERE TO GET OUT FIRST.

SURE. I APPRECIATE THANKS FOR THE QUESTION.

SO TO GIVE YOU A LOT OF THOUGHT, THIS WAS ONLY GOING TO BE A MEDICAL OFFICE AND A HOSPITAL CONCEPT.

ORIGINALLY, WHEN I THOUGHT ABOUT BRINGING THE MEDICAL COMMUNITY ALL TOGETHER ONCE ONTO A CAMPUS, THEN I REALIZED OTHER CAMPUSES THAT I'VE SEEN, WHETHER IT'S AROUND THE COUNTRY OR INTERNATIONALLY, THEY HAVE OTHER FEATURES THAT ARE APART FROM EVERYONE'S GOT, FOR EXAMPLE, A STARBUCKS, EVERY ONE OF THESE CAMPUSES.

AND THAT'S WHERE THIS GREATER CAMPUS CAME ABOUT.

MY, THIS, MY GOAL AND DESIRE IS TO GO AHEAD AND GET STARTED BECAUSE I CAN SINGLE HANDEDLY GET STARTED ON A MEDICAL OFFICE BUILDING.

MY GROUP HAS DONE THEM BEFORE, TONS OF MY FRIENDS ARE INTERESTED, ETC.

[01:10:01]

DOES THE HOSPITAL COME OR IS THE HOSPITAL COMING FIRST? THE MEDICAL OFFICE BUILDING? SO IF YOU LOOK AT MOST HOSPITALS, YOU'RE GOING TO HAVE THAT.

I HAVE A SECONDARY INTEREST IN THE REST OF THE DEVELOPMENT BY THE PRIMARY PHASE.

ONE FOR ME WOULD BE EITHER THE MEDICAL OFFICE AND OR THE HOSPITAL.

YES, PLEASE. SORRY. RAZA RAFIQ.

HE'S MY PARTNER IN THE DEVELOPMENT.

HI YOU GUYS, YOU'LL GO TO THE MIC, PLEASE.

THANK YOU. JUST GOING TO ADD TO THE QUESTION BY THE MAYOR.

THE PLAN AT THE STANDS TODAY IS TO ACQUIRE THE RIGHT PIECE OF LAND, THE TEN ACRES FIRST, WHICH CAN, YOU KNOW, START THE MEDICAL OFFICE BUILDINGS, AND THEN WE'LL MOVE LEFT. SO THE FIRST PHASE IS GOING TO BE THE MEDICAL OFFICE BUILDINGS AND THEN THE HOSPITAL AND THEN EVERYTHING ELSE.

SO IT'S NOT THE THE HOTEL AND THE APARTMENT, ALL THAT.

THE INTENT IS, AS RASHID MENTIONED, TO START OFF WITH THE MEDICAL OFFICE BUILDINGS AND CONCURRENTLY SEE WHAT WE CAN DO WITH THE HOSPITAL.

SO THE RIGHTMOST SECTION, THE WEST MOST SECTION IS THE TEN ACRES.

THAT'S THE FIRST PHASE.

THE SECOND PHASE IS THE CENTRAL TEN ACRES, WHICH BASICALLY IS THE THE HOSPITAL AND THE FRONTAL RETAIL.

AND THEN THE THIRD PHASE IS, YOU KNOW, THE MULTIFAMILY, WHICH IS NOT ANYMORE, AND THEN THE HOSPITAL AND ALL THAT AND I'M SORRY, THE HOTEL.

SO AGAIN, ALL OF THESE ARE IN DISCUSSIONS WITH THE SELLER.

THE SELLER HAS BEEN COOPERATIVE WITH US.

THEY'VE BEEN WORKING WITH US.

BUT THAT'S OUR VISION RIGHT NOW.

AND AS DOCTOR MENTIONED, IT COULD BE THAT AS WE START THE MEDICAL OFFICE BUILDING, THE HOSPITAL SYSTEM, BECAUSE WE'RE ALREADY IN NEGOTIATIONS WITH THEM, THEY CAN COME IN AS WELL. NOT TO MENTION THAT APART FROM THE SELLER, WE'RE ALSO NEGOTIATING WITH PRIVATE EQUITY FIRMS, YOU KNOW, FUNDS THAT CAN BRING MONEY FROM SOVEREIGN WEALTH FUNDS AND SO ON AND SO FORTH. BECAUSE, AGAIN, OUR INTENT IS THAT WE DO LOOK AT IT AS A $100 MILLION PROJECT.

AND AND SECONDLY, THE 15 MILLION INITIATIVES, WE'RE NOT LOOKING FOR A CASH UPFRONT, ANY OF THAT.

WE'RE LOOKING JUST TO BASICALLY SIT DOWN AND NEGOTIATE WITH YOU GUYS OVER A PERIOD OF TIME AS WE CREATE VALUE FOR THE CITY AND THE RESIDENTS TO SEE WHAT IS POSSIBLE.

THANK YOU. I HAVE A QUESTION.

WHAT'S THE RATIONALE FOR THE MEDICAL OFFICE FIRST AND THEN THE HOSPITAL? SURE. I CAN SPEAK TO THAT.

IF YOU LOOK AT THE EXAMPLES KIND OF ALL AROUND TOWN, IT'S ALL THE CHICKEN OR THE EGG EXAMPLE.

ONCE YOU HAVE 2 OR 3 SIGNIFICANT MEDICAL OFFICE BUILDINGS, HOSPITAL WANTS TO BE RIGHT NEXT TO THEM.

VICE VERSA, IF A HOSPITAL COMES UP, THERE'S ALWAYS A HOSPITAL WITH A MEDICAL OFFICE TOWER.

THOSE TWO THINGS KIND OF HAVE HAPPENED HAND IN HAND.

DEPENDING ON THE DEVELOPER, THEY MIGHT DO BOTH AT ONCE, RIGHT? DEPENDING ON DEVELOPER, THEY MIGHT DO A MINI HOSPITAL AND A MEDICAL OFFICE TOWER.

SO THE RATIONALE IS THAT IF THIS IS DECLARED, LET'S JUST SAY A DECLARATION, HEY, WE HAVE A MEDICAL DISTRICT HERE, AND WE GET STARTED WITH A MEDICAL OFFICE BUILDING TO BRING IN THE DOCTORS, THE SPECIALISTS WHO IN THE MEANWHILE, UNTIL THE HOSPITAL BUILD, THEY HAVE TO USE OTHER HOSPITALS, RIGHT.

IF YOU GO AND SEE A CARDIOLOGIST THERE, HE'S GOING TO HAVE TO TAKE YOU TO UNTIL THIS ONE IS BUILT.

SO THAT'S THE RATIONALE, BECAUSE THE MEDICAL OFFICE TOWERS USUALLY GO HAND IN HAND.

SO WE TYPICALLY GO TO A HOSPITAL AND YOU'RE ACTUALLY HAVING SERVICES.

AND THERE'S A MEDICAL OFFICE BUILDING THAT YOU CAN WALK TO QUITE OFTEN.

THE MEDICAL OFFICE TOWER IS NOT OWNED BY THE HOSPITAL.

IT'S OWNED BY A DIFFERENT COMPANY, A REIT, THAT OPERATES A MEDICAL OFFICE BUILDING.

AND THAT'S A VERY COMMON MODEL.

I HAVE SOME THIS AREA OF LAND, IS GOING TO BE KIND OF LANDLOCKED BY THE BYPASS AND THE LAKE.

SO THIS SIZE OF LAND BEING THE MEDICAL DISTRICT.

WOULD THIS BE ADEQUATE AREA FOR THE FUTURE SIZE OF PRINCETON? WHICH I THINK THE COLLIN COUNTY FUTURE MOBILITY SAYS 90,000 CITIZENS.

SO MR. LONG, JUST A JUST TO GIVE YOU THE A RECENT STATISTIC, BY 2033, OUR CURRENT PROJECTIONS ARE 108,000.

IT'S A VERY GOOD QUESTION.

SO WE LOOKED AT SIMILAR SIZED CAMPUSES, 1012 ACRE SITES FOR MEDICAL OFFICE BUILDING AND HOSPITALS, AND A LOT OF THE HOSPITAL DISTRICTS FIT WITHIN A 12 ACRE, 12 TO 20 ACRE SIZE.

SO AS WE START BUILDING HERE, IF WE SEE THE MOMENTUM AND THE HOSPITAL WILL LIKELY WANT TO BUY ADJACENT PIECES, AND THERE'S A FLEXIBILITY IN THERE AS WE GET STARTED IN ORDER TO ACCOMMODATE FOR WHAT YOU'RE DESCRIBING.

AND I LIKE TO USE THE EXAMPLE OF THE METHODIST HOSPITAL METHODIST RICHARDSON ON RENNER AND GEORGE BUSH.

IF YOU REMEMBER, IT WAS JUST A TINY LITTLE E.R.

AND BECAUSE THE ORIGINAL METHODIST HOSPITAL WAS ON CAMPBELL IN 75.

AND WHAT HAPPENED WAS AS THE COMMUNITY GREW, THEY KEPT ON EXPANDING ONTO THE CAMPUS.

AND THAT CAMPUS IS MUCH SMALLER THAN THIS ONE.

[01:15:06]

PRETTY SOON.

BUT WE HAVE A HOSPITAL MAYBE TEN YEARS FROM NOW.

POSSIBLE. I THINK EVERYTHING'S A POSSIBILITY.

BUT ONCE YOU MAKE THE DECLARATION, THE CITY WANTS IT, CITY MAKES IT KNOWN.

AND THERE'S DOCTORS MOVING ON TO THE CAMPUS.

SO IS THERE A GUARANTEE THAT I CAN GET A HOSPITAL FIRST? NO THERE ISN'T.

AND THE OTHER THING IS A HOSPITAL.

LET'S JUST SAY A HOSPITAL WANTS TO DO SOMETHING TODAY.

BY THE TIME THEY DO THEIR STUDY, THEY LAUNCH THEIR INITIATIVE, THEY GET THE FUNDING.

I SAID, YOU'RE LOOKING FOR 36 MONTHS.

HOW LONG DOES IT TAKE TO ACTUALLY BUILD STAFF LICENSE, GET IT OPERATIONAL? SO A HOSPITAL ITSELF IS A SIGNIFICANT CONSTRUCTION UNDERTAKING, SO IT'LL PROBABLY TAKE A YEAR TO DESIGN.

LET'S JUST SAY THE HOSPITAL WANTS TO BUY THE LAND, NEGOTIATES FOR X NUMBER OF MONTHS TO TO COME.

THEY GOT PROBABLY ANOTHER YEAR OF DESIGN.

AND THEN AFTER THAT PROBABLY TWO YEARS OF CONSTRUCTION.

SO JUST A MEDICAL OFFICE BUILDING CAN TAKE 24 TO 36 MONTHS BY ITSELF.

SO YOU CAN IMAGINE A HOSPITAL BEING THAT MUCH MORE COMPLEX.

BUT I STILL HAVE TO WAIT 2 OR 3 YEARS FOR A HOSPITAL, RIGHT? YEAH. MINIMUM. SO AGAIN, WHY DON'T I JUST WAIT 2 OR 3 YEARS FOR A HOSPITAL AND BRING ALL THE OTHER STUFF LATER? WE NEED A HOSPITAL BECAUSE YOU NEED THE DOCTORS, RIGHT? THE HOSPITAL, THE TWO THINGS THE COMMUNITY NEEDS.

YOU NEED THE DOCTORS TO HAVE EASY ACCESS.

SO IF YOU'RE PLAYING, YOU KNOW, YOU HAVE $1 BILLION OF SCHOOLS BEING BUILT, YOU'RE GOING TO HAVE SPORTS INJURIES.

YOU WANT YOUR ORTHOPEDIC GROUP TO BE HERE AND BUSY.

YOU HAVE PEOPLE, YOU KNOW, AS WE GET OLDER, YOU KNOW, STARTING FROM MY AGE GROUP ABOVE, HEART ATTACKS, HEART PROBLEMS, YOU WANT YOUR CARDIOLOGIST TO BE HERE.

YOU WANT A MAJOR PEDIATRIC PRESENCE HERE.

ALL OF THOSE PRECEDE A HOSPITAL BECAUSE YOU CAN STILL TAKE THEM DOWN THE ROAD UNTIL THE HOSPITAL IS BUILT.

SO WHAT YOU WANT IS YOU WANT ACCESS TO PHYSICIANS.

AND THIS IS WHAT'S GOING TO ATTRACT A LOT OF PHYSICIANS.

BUT I'M JUST AFRAID WE'RE GOING TO GET THESE MEDICAL BUILDINGS UP HERE AND NOT GET A HOSPITAL.

THAT I THINK THAT IS ALL.

I THINK THAT IS ALWAYS A RISK.

I THINK BY PARTNERING UP WITH US AND BRINGING THE MEDICAL COMMUNITY, EVENTUALLY A HOSPITAL IS GOING TO COME HERE, RIGHT? EVENTUALLY IT COULD BE 100 YEARS A COMMUNITY, AS YOU'RE AS MR. FORT SAID, I THINK AS MR. FORT SAID, IF YOU'RE PUSHING 100,000 RESIDENTS, I CAN'T IMAGINE THE WAY THE HOSPITAL INDUSTRY AND THE HOSPITALS HERE ARE NOT GOING TO BE INTERESTED IN SOMETHING LIKE THIS.

METHODIST, FOR EXAMPLE.

MEDICAL CITY'S ALREADY BOUGHT THAT.

I KNOW IN THE NORTHERN SUBURBS, SIGNIFICANT AMOUNT OF ACRES IN AND OTHER HOSPITALS, WHICH I CAN'T NAME IN MY DISCUSSIONS, BUT PLACES LIKE IN PROSPER SALINA, MELISSA, THEY'VE ALREADY PURCHASED THESE LANDS WITH THE INTENTION.

SO THIS WOULD BE THE NEXT NATURAL SITE, IN MY OPINION.

AND BASED ON OUR MARKET STUDIES, WHAT'S THE DISTANCE, THE DRIVE TIME, DISTANCE FOR CITIZENS FROM HERE TO A HOSPITAL AS OPPOSED TO OTHER CITIES THAT HAVE MANY MORE HOSPITALS, LESS DRIVING DISTANCE, THE DEMOGRAPHIC STUDIES, THE DEMOGRAPHIC STUDIES WITH HOW MANY PATIENTS FOR EVERY HOSPITAL RATIO.

IT MAKES ALL THE SENSE THAT NOW AND MOVING FORWARD THAT'S PRINCETON IS GOING TO GET A HOSPITAL.

I'D LIKE TO MAKE A RECOMMENDATION AND DIRECTION TO STAFF.

MISS WALKER, IF YOU DON'T MIND DOING SOME RESEARCH TO SEE IF IT IS INEVITABLE FOR A HOSPITAL TO COME HERE OVER TIME, JUST BASED ON OUR POPULATION ALONE.

IF WE LOOK AT OTHER CITIES, IF WE CAN DO SOME TYPE OF SURVEY, WHETHER IT'S A BAYLOR SCOTT AND WHITE IN MCKINNEY OR A MEDICAL CENTER IN ANOTHER CITY, WHAT INCENTIVES ARE THESE CITIES GIVING TO THE HOSPITALS THAT ARE NATURALLY GOING TO COME HERE ANYWAY? AND I THINK THAT WOULD REALLY HELP GUIDE US IF IT'S INEVITABLE, IF IT'S ORGANICALLY GOING TO HAPPEN, THAT A HOSPITAL IS GOING TO COME, WHAT DOES THAT LOOK LIKE FOR INCENTIVES IF WE WANT TO LOOK AT OTHER CITIES? SO IF YOU DON'T MIND RESEARCHING THAT.

ARE THERE ANY OTHER QUESTIONS? OKAY. WELL, THANK YOU VERY MUCH.

I APPRECIATE YOUR TIME. THANK YOU.

YOU'RE WELCOME. ALL RIGHT.

AT THIS TIME, WE ARE ACTUALLY GOING TO GO TO EXECUTIVE SESSION UNDER THE TERMS OF CHAPTER 551 OF THE TEXAS GOVERNMENT CODE, THE CITY COUNCIL MAY ENTER INTO A CLOSED SESSION

[EXECUTIVE SESSION]

SECTION 551.0712 TEXAS GOVERNMENT CODE CONSULTATION WITH THE CITY ATTORNEY ON A PENDING OR CONTEMPLATED LITIGATION, A SETTLEMENT OFFER, OR ON A MATTER IN WHICH THE DUTY OF THE ATTORNEY TO THE GOVERNMENTAL BODY UNDER THE TEXAS DISCIPLINARY RULES, PROFESSIONAL CONDUCT OF THE STATE BAR OF TEXAS CLEARLY CONFLICTS WITH THIS CHAPTER ON ANY AGENDA ITEM LISTED ELSEWHERE WITHIN THIS AGENDA AND OR SUBJECT MATTER LISTED BELOW, WE WILL ADD MEGA TELL TO THAT LINE ITEM.

SECTION 551.07 FOR PERSONNEL MATTERS CLOSED MEETING A.

THIS CHAPTER DOES NOT REQUIRE GOVERNMENTAL BODY TO CONDUCT AN OPEN MEETING ONE TO DELIBERATE THE APPOINTMENT, EMPLOYMENT EVALUATION, REASSIGNMENT DUTIES, DISCIPLINE OR DISMISSAL OF A PUBLIC OFFICER OR EMPLOYEE OR TWO TO HEAR A COMPLAINT OR CHARGE AGAINST AN OFFICER OR EMPLOYEE.

B SUBSECTION A DOES NOT APPLY IF THE OFFICER OR EMPLOYEE WHO IS SUBJECT TO THE DELIBERATION OR HEARING REQUEST A PUBLIC HEARING.

[01:20:05]

ECONOMIC DEVELOPMENT CORPORATIONS, PLACES THREE, FOUR, FIVE, SIX AND SEVEN.

PLANNING AND ZONING COMMISSIONS.

PLACES THREE, FOUR, FIVE, SIX AND SEVEN AND LIBRARY ADVISORY BOARD PLACES THREE, FOUR, FIVE, SIX, AND SEVEN.

THE TIME IS 7:52 P.M.

THIS WILL PUT US INTO EXECUTIVE SESSION.

ALL RIGHT. THE TIME IS 8:53P.M..

THIS WILL PUT US BACK INTO REGULAR SESSION.

NO ACTION TO BE TAKEN OUT OF EXECUTIVE SESSION.

WE WILL GO BACK INTO OUR REGULAR AGENDA.

[REGULAR AGENDA (Part 2 of 2)]

WE COULD GO AHEAD AND START WITH CDC, PLEASE.

I'LL ENTERTAIN A MOTION FOR THAT.

I WOULD LIKE TO MAKE A MOTION THAT WE APPOINT THE FOLLOWING INDIVIDUALS TO THE CDC MICHELLE BURKE, JOHN REAGAN, KARIM EVANS, JASON ASH, JASON RUTLEDGE, JEFF WATSON, AND MELISSA NED.

THANK YOU. DO I HAVE A SECOND FOR THAT? I'LL SECOND. WITH THAT, WE'LL DO A ROLL CALL VOTE MOTION CARRIES SEVEN ZERO FOR THE APPOINTMENT OF THOSE CDC MEMBERS.

THAT WILL NOW TAKE US TO EDC.

WE COULD GET A MOTION FOR THAT, PLEASE.

MADAM MAYOR, I'D LIKE TO MAKE A MOTION FOR THE FOLLOWING MEMBERS TO BE APPOINTED TO THE EDC.

MIKE THOMPSON, JAMES MILLER, A MARCUS BINGHAM, MICHAEL CRAWFORD, TERRENCE JOHNSON, PATSY SHEEHAN, AND JOSHUA HARRELL.

THANK YOU. HAVE A SECOND ON THAT.

YES. I WOULD LIKE TO SECOND THAT.

THANK YOU. WITH THAT WE'LL DO A ROLL CALL VOTE . MOTION CARRIES SIX ONE FOR THE APPOINTMENTS OF THE EDC MEMBERS.

WE WILL MOVE TO P AND Z.

YOUR HONOR, I'D LIKE TO MAKE THE MOTION TO APPOINT THE FOLLOWING INDIVIDUALS TO THE PLANNING AND ZONING COMMITTEE ROBIN [INAUDIBLE], RYAN [INAUDIBLE], CHRIS COOPER, NIKKI CRUM, MAXINE ELLIS,AARON BURNETT, AND KYLE SUTTON.

THANK YOU. DO I HAVE A SECOND FOR THAT? I'LL SECOND. OKAY.

WITH THAT, WE WILL DO A ROLL CALL VOTE . MOTION CARRIES SEVEN ZERO FOR THE APPOINTMENT OF THE P&Z BOARD.

AND LASTLY LIBRARY.

I LIKE TO MAKE A MOTION TO APPOINT THE FOLLOWING TO THE LIBRARY BOARD.

SHARON EAVES.

RENEE [INAUDIBLE].

SARAH [INAUDIBLE].

JANICE RUCKER REED.

SAMANTHA PETERS.

SAMIA [INAUDIBLE] AND MILLICENT POOLE.

THANK YOU. DO I HAVE A SECOND? I'LL SECOND THAT, YOUR HONOR.

OKAY, THAT WILL DO A ROLL CALL VOTE, MOTION CARRIES SEVEN ZERO FOR THE APPOINTMENT OF THE LIBRARY BOARD.

AGAIN, CONGRATULATIONS TO ALL THOSE APPOINTED AND REAPPOINTED, AND WE APPRECIATE YOUR TIME AND SERVICE TO OUR CITY.

WITH THAT.

THAT WILL TAKE US TO OUR REPORT AGENDA.

NEVER MIND. EXCUSE ME, MAYOR, WE HAVE THE FUTURE AGENDA ITEMS. SO THAT WILL TAKE US TO FUTURE AGENDA ITEMS. GENTLEMEN AND LADIES, IF THERE IS ANYTHING THAT YOU WOULD LIKE TO ADD TO A FUTURE AGENDA.

YES, I ACTUALLY HAVE TWO ITEMS. THE FIRST ONE IS, UH, DURING PUBLIC APPEARANCE, I BELIEVE I CAN'T.

I BELIEVE IT WAS MAXINE ELLIS.

RIGHT? THEY MENTIONED THE TRAFFIC STUDY.

YEAH, FOR BEAUCHAMP.

IF WE COULD GO AHEAD, AND SEE ABOUT GETTING THAT WORKING.

ALSO, I WANTED TO SEE WHAT WE COULD DO ABOUT POSSIBLY ADDING A TURNING SIGNAL AT FOURTH AND THREE 84TH STREET AND 380 GOING NORTH AND SOUTH. I TRAVEL THAT WAY QUITE A BIT.

PLUS, SOME OTHER PEOPLE HAVE TALKED TO ME ABOUT THAT.

IT'S JUST YOU JUST SIT THERE FOREVER, AND ESPECIALLY WITH SCHOOL BUSSES TRYING TO TURN, IT'S JUST A NIGHTMARE.

SO I DON'T KNOW WHAT WE COULD DO TO ADD THAT, BUT.

OR MAKE A REQUEST OR WHAT HAVE YOU.

I'M AWARE OF BOTH ITEMS AND WE'VE ACTUALLY LOOKED INTO BOTH.

SO WE'LL PUT SOME AGENDA ITEMS AND BRING YOU A BRIEFING ON THEM.

OKAY. AWESOME. THANK YOU.

I KIND OF LIKE TO THINK THAT MR. WASHINGTON'S THING, BECAUSE I'VE SAT THROUGH THAT SIGNAL LOT DOWN THERE.

IF YOU'RE THE FOURTH CAR BACK, YOU'RE NOT GOING TO MAKE IT.

THAT IS CORRECT. YOU KNOW, BUT ALSO ON 380 AND BEAUCHAMP IF YOU CAN HAVE TWO TURN LANES THAT ARE GOING NORTHBOUND TO TURN BACK

[01:25:07]

I THINK IT'D SPEED UP THINGS QUITE A BIT THERE.

AND THEN I'D ALSO LIKE TO, I'D ALSO LIKE TO PUT ON THE AGENDA, MAYBE THE ABBOTT EDITION, TO SEE WHAT WE'RE GOING TO DO ABOUT THE STREETS AND THINGS OVER IN THAT AREA.

THERE ARE SOME OF THEM THAT ARE NEARLY DIRT AND WHITE ROCK AND.

AND SEE WHERE THAT MIGHT BE DOWN IN THE PLANS IN THE FUTURE.

THANK YOU. ANYTHING ELSE TONIGHT? YES, I HAVE THREE AGENDA ITEMS THAT I WOULD LIKE TO ADD.

FIRSTLY, I WOULD LIKE A, IF I COULD GET AN UPDATE ON THE TORY STREET, UH, ISSUE THAT I RAISED REGARDING, UH, RIGHT ACROSS FROM [INAUDIBLE].

THAT WAS BROUGHT UP TO ME AGAIN REGARDING THE TRAFFIC ISSUE THAT'S HAPPENING UPON DISMISSAL AT LOWE ELEMENTARY WITH, STANDING VEHICLES.

ALLOWING THEIR PUTTING THEIR CHILDREN AS WALKERS WHEN THEY'RE ACTUALLY NOT WALKERS.

AND IT'S CREATING SOME SORT OF HAVOC RIGHT THERE AT TORY STREET.

I KNOW I SPOKE WITH, CHIEF HAD LOOKED INTO IT.

I WOULD JUST LIKE AN UPDATE ON WHAT IF HE'S FOUND WITH THAT AND IF THERE'S ANY RESOLUTION AND, IN THAT SITUATION THE SECOND AGENDA ITEM IS,, COMPLAINT REGARDING, VEGETATION ALONG BEAUCHAMP GOING TOWARDS, WINCHESTER.

IS THAT THE DEVELOPMENT GOING SOUTH ON BEECHAM.

APPARENTLY THERE IS SOME VEGETATION ALONG BEECHAM THAT APPARENTLY IS CITY'S RESPONSIBILITY, THAT IT'S OVERGROWN, OVER TWO FEET IN SOME AREAS ALONG THE SIDEWALK.

SO THERE'S BEEN COMPLAINTS ABOUT THAT VEGETATION.

I WOULD LIKE TO THAT TO BE LOOKED INTO.

THIRDLY, I WOULD LIKE TO PUT A MOTION ON THE BOARD TO INSTRUCT CITY STAFF, POSSIBLY FINANCE AS WELL AS, ACTING CITY MANAGER TO CONSIDER A COMPENSATION PACKAGE FOR MAYOR CHACON FOR HAVING TO STEP UP AND DO EXTRA SERVICES WITH THE LAPSE OF, WITH THE RESIGNATION OF MR. BORG UP UNTIL HIRING OF, MR. MASHBURN, SHE HAS BEEN UP HERE ABOVE AND BEYOND.

I BELIEVE HER RESPONSIBILITIES AS MAYOR TAKEN OUT OF HER OWN, RESPONSIBILITIES AS HER DAY TO DAY JOB TO SERVE THE CITY.

SO I THINK THAT DOES SERVE SOME SORT OF COMPENSATION.

SO I WOULD LIKE TO SEE SOME SORT OF RECOMMENDATION WHAT THE CITY COULD AFFORD IN TERMS OF SOME SORT OF COMPENSATION PACKAGE FOR THE MAYOR.

THANK YOU. ANYTHING ELSE THIS EVENING? IS THERE ANY WAY TO INSTRUCT THE CITY TO REMOVE CAMPAIGN SIGNS? THERE ARE STILL SOME CAMPAIGN SIGNS AROUND TOWN FROM THE NOVEMBER ELECTION.

AND SO I WAS WONDERING IF WE COULD INSTRUCT THE CITY TO TAKE THOSE OUT.

ANYTHING ELSE.

OKAY. IF NOT, THEN WE WILL GO AHEAD AND NOW MOVE TO OUR REPORT AGENDA.

[REPORT AGENDA]

ALL RIGHT. CITY COUNCIL REPORT AGENDA PURSUANT TO SECTION 551.0415 OF THE TEXAS GOVERNMENT CODE, THE CITY COUNCIL MAY REPORT ON ITEMS OF COMMUNITY INTEREST, INCLUDING

[CC REPORT AGENDA]

NO ACTION WILL BE TAKEN ON ANY ITEMS OF COMMUNITY INTEREST.

ANYTHING TO ADD TONIGHT? FURTHER REPORT AGENDA? YES. YOUR HONOR, I JUST WANTED TO THANK EVERYONE WHO PUT IN AN APPLICATION TO SERVE ON BOARDS.

THE TURNOUT THIS EVENING WAS JUST AMAZING.

IN THE LAST FEW YEARS, I CAN'T REMEMBER WHEN I'VE SEEN SUCH, SUCH POSITIVE TURNOUT FOR INDIVIDUALS WILLING TO SERVE.

SO I JUST WANT TO SAY THANK YOU TO ALL THOSE THAT APPLIED AND WAS WILLING TO SERVE.

ANYTHING ELSE TONIGHT? OKAY. IF NOT, I WILL GO AHEAD AND ENTERTAIN A MOTION TO ADJOURN.

YOUR HONOR, I'LL MAKE THAT MOTION TO ADJOURN.

OKAY. DO I HAVE A SECOND? I'LL SECOND.

THANK YOU. ALL IN FAVOR, SAY AYE.

AYE. HAVE A GREAT NIGHT.

* This transcript was compiled from uncorrected Closed Captioning.