SURE IT'S 518. AND I'D LIKE TO CALL TO ORDER THE THE WEDNESDAY,
[A. CALL TO ORDER]
[00:00:08]
FEBRUARY 19TH, 2025 JOINT MEETING BETWEEN EDC AND CDC.CALENDAR OR THE EDC PORTION? YES. I'D LIKE TO CALL IN TO ORDER THE COMMUNITY DEVELOPMENT CORPORATION JOINT MEETING IN ACCORDANCE WITH THE TEXAS GOVERNMENT CODE.
NOTICE IS HEREBY GIVEN THAT ALL OR ONE OR MORE OF THE ECONOMIC DEVELOPMENT CORPORATION, COMMUNITY DEVELOPMENT CORPORATION MEMBERS MAY PARTICIPATE IN A REGULAR NON-EMERGENCY BASIS IN THIS MEETING. GO AHEAD AND CALL THIS MEETING TO ORDER IS 519.
SO IT SOUNDS LIKE YOU GUYS, YOU'RE PRETTY CLOSE TO THE MICROPHONES FOR THIS. OKAY. EDC ROLL CALL.
MIKE THOMPSON, PRESENT MICHAEL CRAWFORD HERE, JAMES MILLER, PRESENT MARCUS BINGHAM.
PRESENT. ALBERT LOTT AND SESAME MORRISON.
PRESENT. AND FOR THE CDC ROLL CALL MYSELF, JEFF WATSON.
MELISSA. NEDD HERE. AHMAD THORNTON.
PRESENT. MARY LOU PETTIS HERE.
AND WE'RE GOING TO GO AHEAD AND DO THE INVOCATION.
I BELIEVE MR. EVANS IS GOING TO LEAVE. MR..
YES, SIR. THANK YOU. FATHER GOD, THANK YOU FOR ALLOWING US TO COME TOGETHER TODAY. THANK YOU FOR WATCHING OVER AND COVERED IN THIS MEETING.
FATHER, WE ASK THAT YOU BRING US TOGETHER TO HELP US FURTHER THIS CITY.
FATHER, WE ASK THAT YOU WATCH OUR WORDS AND HELP US COME TOGETHER AND UNITE.
WE ASK YOU FOR ALL THESE THINGS. IN THE NAME OF JESUS WE PRAY.
AMEN. AMEN. PLEDGE ALLEGIANCE.
I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA, AND TO THE REPUBLIC FOR WHICH IT STANDS.
ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL.
ALL RIGHT. WE'LL GO AHEAD AND MOVE ON TO THE PUBLIC APPEARANCE PORTION OF THIS AND GOES HERE. BINGO. HAVE YOU DONE? THAT'S CORRECT. THANK YOU.
[F. PUBLIC APPEARANCE]
SIR, IF YOU JUST STEP UP THE PODIUM AND REPEAT YOUR NAME AND YOUR ADDRESS, PLEASE. IT'S ALL. THANK YOU.YES. MY. I ACTUALLY HAVE BEEN IN SOME CDC MEETINGS OVER OVER THE YEARS SINCE 2020, BUT IT'S ABOUT THE STEVEN AND I THINK IT'S STEVE AND JUDY CENTER.
IT'S IT'S CURRENTLY USED FOR A COMMUNITY CENTER IN PRINCETON, BUT IT'S ACTUALLY A CHURCH BUILDING.
AND SINCE 2020, I'VE MADE AN OFFER AS A PASTOR TO USE IT AS A CHURCH, TO BE REINSTATED AS A CHURCH, BROUGHT BACK AS A CHURCH.
AND THAT'S WHY THAT'S STILL THE SAME THING.
I'M HERE TO JUST TO APPEAL TO THE COMMUNITY TO CONSIDER THAT STRONGLY.
IT'S USED AGAIN CURRENTLY AS A COMMUNITY CENTER, BUT NOT AS A CHURCH. IT'S A CHURCH BUILDING.
SO I WOULD APPEAL TO, YOU KNOW THE COUNCIL AND THE COMMUNITY TO REINSTATE IT AS A CHURCH.
AND I'VE OFFERED SEVERAL TIMES SINCE 2020 TO BUY IT.
I'VE NEVER GOTTEN ANY RESPONSES SINCE 2020.
SO I'M HOPING THAT I'LL, YOU KNOW, I'M PRAYING THAT I'LL GET SOME RESPONSE. YOU KNOW, IN JESUS NAME, I NEED TO MAKE SURE I GET YOUR CONTACT, BECAUSE I WAS FORWARDED A QUESTION FROM YOU AND I DID RESPOND.
WEEK BEFORE LAST. SO WE CAN TALK AFTER.
YEAH, I WAS GOING TO I WAS GOING TO ASK ONE WAY.
YEAH. IF WE COULD GET ANY CORRESPONDENCE OR OR COMMUNICATION THAT WAS DONE BEFORE, I DON'T HAVE ANYTHING SO THAT WE COULD GET ANYTHING FORWARDED TO US FROM THE PREVIOUS COMMUNICATION. I WOULD CERTAINLY. OKAY, WE HAVE ONE MORE.
[00:05:08]
I KIND OF WORKED UP A SWEAT THERE.KEN SELIGMAN, 512 BUCKEYE AVENUE.
SO IN A RECENT COUNCIL MEETING, IT WAS DISCUSSED THAT THERE'S GOING TO BE KIND OF A LULL IN COMMUNITY ACTIVITIES, IF YOU, IF YOU WILL, BETWEEN CHRISTMAS AND SPRINGTIME ACTIVITIES AND THINGS IN THE FALL.
SO THAT WAS THAT KIND OF CAME INTO MIND.
AND THEN I RECENTLY HAD VISITED WITH MR. WEIMER. I HAD PRESENTED AN IDEA FOR YOU KNOW, A REQUEST FOR A GRANT PROJECT, AND THAT DIDN'T QUITE FIT YOUR YOUR MANDATE.
AND THEN YESTERDAY, I WAS BRAINSTORMING WITH A FRIEND AND REMEMBERED BACK TO A PROJECT THAT I HAD HAD SOME INVOLVED INVOLVEMENT WITH WHEN I WAS IN MIDLAND, TEXAS, CALLED THE CHRISTMAS IN APRIL.
I DON'T KNOW IF YOU HAVE YOU EVER HEARD OF CHRISTMAS IN APRIL? JIM? I'VE HEARD ABOUT CHRISTMAS IN JULY. SAME CONCEPT.
SO. YES, SIR. SO IT COULD BE ANY TIME.
SO BASICALLY IT'S A NATIONAL ORGANIZATION CHRISTMAS IN APRIL.
AND WHAT THEY DO IS IT WOULD BE KIND OF, I THINK A LIKE A PUBLIC PRIVATE PARTNERSHIP.
AND IT WOULD ACCOMPLISH TWO THINGS.
ONE, I THINK IT COULD COULD FALL WITHIN THE GUIDELINES OF THE CDC.
AS FAR AS PROVIDING JOB TRAINING FOR PEOPLE MAYBE THE HIGH SCHOOL, WE COULD INVOLVE THE HIGH SCHOOL AND MAYBE EVEN RESIDENTS IN THE COMMUNITY THAT WERE INTERESTED IN LEARNING SOME, SOME SKILLS, AND THE OBJECTIVE IS TO GO AND HELP UNDERSERVED POPULATION TO IMPROVE THEIR HOMES, ESPECIALLY WITH REGARD TO HOME EFFICIENCY.
FIND LEAKS IN THE HOUSE AND HELP PLUG THEM UP LIKE, YOU KNOW, IN INSULATION, WEATHER STRIPPING, WHATEVER COULD BE DONE TO HELP KIND OF IMPROVE JUST TO GET SOME OF THESE HOUSING THAT FOR MOST PEOPLE'S STANDARDS IS SUBSTANDARD, TO BE HONEST.
RIGHT. AND SO IT WOULD ACCOMPLISH BOTH THINGS TO HELP ACCOMPLISH THE MANDATE OF, OF JOB TRAINING AND HELPING THE COMMUNITY TO HELP TO UPGRADE HOUSING MINIMUM LIVING STANDARDS AND COST OF LIVING BY LIVING ENERGY EFFICIENCY.
[G. PUBLIC REPORT ITEMS]
TO THE NEXT ITEM ON THE AGENDA.PUBLIC REPORT ITEMS. FIRST NEXT REGULAR MEETING OF PDC IS MONDAY, MARCH 3RD, 2025 AT 6 P.M..
WHETHER THAT'S NOT PICKING NEXT CITY COUNCIL MEETING MONDAY, FEBRUARY 24TH AT 6:30 P.M..
[H. STAFF REPORT ITEMS]
STAFF REPORT ITEMS PRESENTED BY CEO, EDC, CDC.WE WILL GO THROUGH YOUR TRADITIONAL MONTHLY REPORTS.
IF YOU ALL HAD A CHANCE TO LOOK AT THE FINANCIALS AT ALL.
WE DIDN'T ADD PAGES OF ACCOUNTS THAT WE'RE NOT GOING TO USE, BUT WE DID CHANGE THE NOMENCLATURE ON THE ACCOUNTS TO MATCH THE CITY'S ACCOUNTING, BECAUSE THEY DO ALL OF OUR ACCOUNTING, AND WE ARE RUNNING INTO AN ISSUE THAT THE BOARDS WERE USING ONE NOMENCLATURE AND THE CITY IS USING ANOTHER.
AND BY THE TIME A BILL GOT TO THE ACCOUNTING DEPARTMENT, THEY WEREN'T SURE HOW TO CODE IT BECAUSE IT DIDN'T MATCH.
THEY DIDN'T KNOW WHETHER IT WENT IN ONE LINE OR THE OTHER.
AND QUITE HONESTLY, AT THIS POINT IN MY CAREER, I'M USED TO THEIR NOMENCLATURE ANYWAY, SO IT'S A LITTLE BIT CLEANER.
THE DOLLAR FIGURES ARE THE SAME.
WE HAVE NOT DONE ANY BUDGET AMENDMENTS OR ADJUSTMENTS ON THE ON THE BUDGET ON THE CDC, THAT'S THE EDC, ON THE CDC'S BUDGET.
YOU'LL ALSO NOTICE A CHANGE ON THE INCOME LINE WE WERE TRACKING.
WE WERE SPLITTING THE CDC INCOME FOR SOME REASON.
AND Y'ALL MAY KNOW I DON'T INTO STREETS AND PARKS AND THERE REALLY WASN'T AN ORDINANCE OR ANYTHING PASSED TO DO THAT.
AND SO WHAT I DID IS ON THE CDC, I HAD I WAS SHOWN THE INCOME JUST UNDER ONE LINE ITEM LIKE WE DO WITH THE EDC, JUST SHOWING CDC INCOME.
[00:10:01]
THE REASON FOR THAT BEING IS YOU DON'T HAVE TO SHOW THE INCOME STREAM.YOU CAN STILL EXPEND IT ON STREETS, PARKS, WHATEVER YOU WANT.
IT DOESN'T HAVE TO MATCH WITH AN INCOME STREAM THAT SAYS STREETS OR PARKS.
THE FEAR BEING IS THAT WHEN YOU LOOKED AT THE BOOKS AND IT SHOWED STREETS INCOME AND PARKS INCOME, THERE IS ANOTHER SPECIAL DISTRICT FOR STREETS THAT IS OUT THERE.
WE DON'T HAVE ONE HERE, BUT THERE THERE IS A LEGAL ENTITY THAT'S VOTED ON BY THE PUBLIC AND OTHER COMMUNITIES THAT IS FOR STREET REPARATIONS.
SO THAT CAN BE A LITTLE BIT CONFUSING.
PLUS, IT LOOKS LIKE THERE ARE TWO SEPARATE ACCOUNTS, AND IT ALMOST LOOKS LIKE YOU CAN'T USE THE STREET INCOME FOR OTHER THINGS, WHICH IS NOT THE CASE.
SO JUST TO CLEAN IT UP, WE PUT IT BOTH UNDER ONE, IF YOU'LL NOTE IT. AND THERE'S ALSO BEEN SOME QUESTION AND CONCERN ABOUT TRANSPARENCY WHEN IT COMES TO WORKING EDCS AND CDC EVERYWHERE EXCEPT FOR WORKING PROJECTS WHERE WE HAVE TO BE CONFIDENTIAL AND IT'S NOT FOR OUR SAKE, IT'S FOR THE PEOPLE WE'RE DEALING WITH SAKE.
THE PLACES THAT WE CAN BE TRANSPARENT, WE'RE GOING TO BE AS TRANSPARENT AS PEOPLE WANT. IN OTHER WORDS, WE'VE BROKEN OUT SALARIES, BENEFITS. WE HAVE GOT RID OF THE TRANSFER OUT CATEGORY BECAUSE THERE ARE SOME CONCERN AND CONFUSION ABOUT THE TRANSFER OUT.
TRANSFER OUT IS GENERALLY BY LAW.
SINCE MYSELF AND DESHAWN ARE CITY EMPLOYEES AND WE REPRESENT THESE TWO BOARDS, BY LAW, YOU HAVE TO REIMBURSE THE CITY FOR OUR WAGES AND BENEFITS.
YOU HAVE TO REIMBURSE YOUR EXPENSES TO THE CITY OFTENTIMES IN MY PREVIOUS COMMUNITY, WE DID THAT THROUGH A TRANSFER OUT CATEGORY.
WELL, WE'VE HAD SOME COMMENTS AND SOME CONCERNS THAT THERE IS MONEY BEING HIDDEN IN THE TRANSFER OUT CATEGORIES. OKAY, WE'LL GET RID OF IT AND WE'LL JUST PUT THE LINE ITEM UP THERE. WE'LL CALL IT WHAT IT IS.
SO YOU'LL SEE SALARY BENEFITS INSTEAD OF OFFICE SUPPLIES.
THAT'S PRETTY SPECIFIC. I DON'T THINK WE NEED AN OFFICE SUPPLIES CATEGORY, BUT WE DO NEED AN OPERATING CATEGORY THAT OFFICE SUPPLIES FITS UNDER.
AND SO LEGAL SERVICES, AUDIT EXPENSE MARKETING.
WE NEED TO HAVE A MARKETING CATEGORY IN THE STATE OF TEXAS.
BOTH ORGANIZATIONS, BY LAW, ARE ALLOWED TO PUT UP TO 10% OF YOUR ANNUAL INCOME INTO A MARKETING BUDGET.
MY ADVICE IS TO DO THAT JUST EVERY YEAR.
LOOK AT 10%, LOOK AT YOUR BUDGET AND AUTOMATICALLY PUT IT IN MARKETING.
THAT'S YOUR MOST FLEXIBLE FUND, AND IT WILL COME IN HANDY BECAUSE YOU CAN CARRY IF YOU UNDERSTAND THAT IT CAN CARRY OVER FROM YEAR TO YEAR WITHOUT LIMIT.
AND SO IF THE CITY HAS A REBRANDING CAMPAIGN OR A WAYFINDING CAMPAIGN, WHICH IS VERY POSSIBLE IF WE DO AN ENTERTAINMENT DISTRICT AT THE LAKE OR WHATEVER, THOSE ARE VERY EXPENSIVE.
AND BUT IF WE HAVE THOSE FUNDS CARRIED OVER FROM YEAR TO YEAR, WE CAN ACCESS THOSE. IF YOU DON'T BUDGET IT AND CARRY IT OVER, YOU LOSE IT. SO WE'VE GOT A MARKETING LAND ACQUISITION BUSINESS RELOCATION.
GO AHEAD AND GO TO THE NEXT ONE TO SHAUNA. YES, MA'AM. AND AS YOU'LL SEE, CDC, IT'S ALL ONE SALES TAX REVENUE.
ESSENTIALLY MAKES IT VERY CLEAN, EASY FOR BOTH YOU ALL AND THE PUBLIC TO UNDERSTAND. MAKES IT EASIER FOR US TO TRACK.
AGAIN, NO DOLLAR FIGURES HAVE CHANGED.
I DON'T HAVE THE AUTHORITY TO CHANGE DOLLAR FIGURES ONCE WE DO THIS DURING THE YEAR IF THERE'S A BUDGETED AMOUNT THAT'S IN.
AND WE KNOW WE'RE NOT GOING TO SPEND IT ON LAND ACQUISITION, AND WE NEED IT IN ANOTHER AREA, WE CAN MOVE MONEY AROUND WITHIN THE BUDGET, BUT WE CAN'T ADD TO THE BUDGET DURING THE YEAR.
MY FAVORITE SLIDE WAS MY FAVORITE SLIDE TILL THE LAST MONTH, WHERE WE SAW A DIP THAT IS VERY LIKELY DUE TO AN AUDIT.
AND I'M GUESSING IT WAS WHEN YOU LOOK AT SALES TAX, A COUPLE OF THINGS. I BELIEVE YOU MISSED OUR LAST MEETING WHEN I FIRST PRESENTED THIS.
AND I THINK THERE MIGHT HAVE BEEN SOMEBODY ELSE THAT MISSED IT. EVERYWHERE I'VE WORKED, I DO THIS, AND I TRACK FIVE YEARS OF SALES TAX.
AND ACTUALLY, THERE'S SIX YEARS NOW BECAUSE THERE'S A HIDDEN COLUMN BECAUSE WE DON'T HAVE ROOM ON THE PAGE. I JUST ADD A COLUMN EVERY NEW YEAR BECAUSE THE WAY YOU TRACK SALES TAX, YOU DON'T LOOK MONTH TO MONTH BECAUSE SALES TAX IS CYCLICAL.
CHRISTMAS IS ALWAYS BIGGER THAN FEBRUARY EVERY YEAR, AND SO YOU MATCH THE SAME MONTH PREVIOUS YEAR.
AND SO YOU CAN TRACK YEAR TO YEAR WHERE YOU ARE.
ALSO, THERE ARE SOME THINGS THAT CAN REALLY DRAMATICALLY CHANGE YOUR SALES TAX INCOME ON A SINGLE MONTH. THERE COULD BE A LATE PAYMENT.
SO IF WALMART DIDN'T GET THEIR SALES TAX PAYMENT IN ON TIME AND THEY'RE OUR BIGGEST SALES TAX PROVIDER, IT'S GOING TO HAVE A HUGE IMPACT ON THIS AND THEY'LL PUT IT ON NEXT MONTH. SO THOSE DOLLARS WILL SHOW THE NEXT MONTH.
[00:15:04]
OR THERE COULD BE AN AUDIT.WALMART MAY PROTEST WHAT THEIR SALES TAX WAS FOR ONE MONTH TO THE CONTROLLER, AND THE CONTROLLER MAY GET BACK TO THEM FOR THE FOLLOWING MONTH.
SAY, YOU KNOW WHAT? YOU'RE RIGHT, YOU OVERPAID. WE'LL CREDIT THIS MONTH.
AND SO IF YOU JUST HANG YOUR HEAD ON A SINGLE MONTH, IT CAN MOVE A LITTLE BIT.
SO YOU GENERALLY LOOK AT IT QUARTERLY OR ANNUALLY.
SO I'M NOT REAL WORRIED ABOUT THAT.
THEY'RE LITERALLY TWO MONTHS IN FIVE YEARS THAT ARE IN THE NEGATIVE.
AND WITH SOME OF THE RETAIL DEVELOPMENT STUFF THAT WE'RE LOOKING AT THAT WILL CONTINUE GETTING BETTER. ANY QUESTIONS ABOUT THIS? HEY, JIM. YES. HEY. QUICK QUESTION.
I NOTICED WHEN WE WERE SITTING THERE TALKING ABOUT YOU SAID LIKE, PUTTING 10% OF THE BUDGET IN THE MARKETING.
YES, BECAUSE IT'S MORE FLEXIBLE.
SO. AND I'M EXPLAINING AND MAYBE I MISSED IT AND SOMEBODY KNOWS.
BUT WHAT HAPPENS IF WITH OTHER FUNDS THAT WE DON'T USE, DO THEY NOT ROLL OVER TO THE NEXT YEAR OR HOW DOES THAT WORK? THE FUNDS ROLL OVER INTO THE FUND BALANCE, BUT NOT IN A SPECIFIC USE.
AND SO WITH MARKETING, THE REASON IT'S IMPORTANT TO BUDGET IT AND ROLL IT OVER IS ALL THE OTHER LINE ITEMS. THERE'S NO CAP ON WHAT YOU CAN BUDGET EVERY YEAR.
BY LAW, YOU CANNOT BUDGET MORE THAN 10% A YEAR FOR MARKETING.
BUT IF YOU ROLL IT OVER, YOU'RE ALLOWED TO. WHATEVER WE DIDN'T SPEND THIS YEAR, WE CAN ROLL OVER INTO NEXT YEAR AND THAT CAN BUILD UP AN ACCOUNT.
THE OTHER AREAS YOU DON'T NEED TO DO THAT BECAUSE AGAIN, THERE'S NO CAP ON WHAT YOU CAN DO ANNUALLY. SO THAT'S WHY YOU DO IT.
OKAY. GOTCHA. DOES THAT MAKE SENSE.
AND Y'ALL ARE GOING TO HAVE TO ALMOST SWALLOW THAT MICROPHONE. I APOLOGIZE SOME OF THESE ARE MORE SENSITIVE THAN OTHERS.
SO YOU MAY HEAR SOMEBODY ASKING A QUESTION AND NOT BE ABLE TO HEAR THEM.
AND YOU GET UP THERE AND TALK AND IT'LL BLOW YOUR EARS OUT. I'M SORRY. THAT'S JUST KIND OF THE WAY THE SYSTEM IS.
ANY OTHER QUESTIONS? HEY, SO JUST TO CLARIFY, BECAUSE WE JUST DID OUR BUDGET BACK IN SEPTEMBER AND WE DID A LOT OF SIMPLIFICATION, I THINK, ON BOTH BOARDS.
AND WE WHITTLED IT DOWN TO ABOUT FIVE, SIX, SEVEN CATEGORIES IN THOSE.
EVERYTHING THAT YOU'RE SHOWING US NOW STILL FITS WITHIN THOSE CATEGORIES.
WE'RE JUST MODIFYING OR UPDATING SOME OF THOSE LINE ITEMS YESTERDAY IN THERE.
AND THEN ALSO JUST TO PROVIDE A LITTLE BIT OF CONTEXT ON THAT OLD SPLIT BETWEEN PARKS AND STREETS. THAT'S HOW IT USED TO COME IN AND HOW IT USED TO BE DIVVIED OUT WHEN WE UPDATED THE BUDGET. ONE OF THE THINGS THAT WE HAD IDENTIFIED WITH FINANCE WAS LIKE, HEY, WE DON'T HAVE TO DO THAT ANYMORE.
SO WE DID ASK FOR THAT TO BE CLEANED UP.
IT JUST HADN'T HAPPENED YET. SO I'M GLAD THAT YOU CAN WORK WITH FINANCE THAT CLEAN UP, AND THESE ARE GOING TO LOOK CONSISTENT.
THE ONLY WAY OFF THE TOP OF MY HEAD THAT WE'RE GOING TO ADD CATEGORIES TO THESE IS EVERY TIME ONE OF THESE BOARDS APPROVES A PROJECT, IT HAS TO HAVE ITS UNIQUE PROJECT CODE AND IT HAS TO BE BUDGETED.
SO THAT PROJECT WILL GET A LINE ITEM UP HERE UNTIL IT'S EXPENDED.
AND THEN IT'LL ROLL OFF THE NEXT YEAR.
SO I SAY THAT TO SAY, I DON'T SEE US GETTING BACK TO THE DAYS WHEN YOU GOT A33 PAGE ACCOUNTING SHEET WITH ALL THESE ACCOUNTING CODES THAT DIDN'T PERTAIN TO YOU. WE'VE CLEANED THEM UP.
AND SO IF YOU DID A GREAT JOB, SHE'S BEEN AMAZING TO WORK WITH.
ANY OTHER QUESTIONS ON THESE? ANYTHING ELSE THAT WE NEED TO GO OVER UNDER? I DO HAVE A QUESTION. AND I IT'S NOT ON THE AGENDA FOR ACTUALLY A COUPLE QUESTIONS FOR ACTION. ONE OF WHICH IS DOES EVERY DOES EVERYBODY NEED A 630 START TIME? DOES 5:00 WORK? DOES 530 WORK? IS THERE ANY MAGIC TO THE 630 START TIME? DO Y'ALL NEED TIME TO GET FROM YOUR JOB TO HERE OR.
536 630? I MEAN, WE'LL DO IT WHENEVER IT WORKS BEST FROM Y'ALL OR FOR Y'ALL.
I'VE DONE THEM ANYWHERE IN THE PAST FROM 4:00 TO EVERYBODY GOT HERE AN HOUR BEFORE THE DAY ENDED AND UP TO 630. SO, YOU KNOW, THAT'S NOT NECESSARILY A LEADING QUESTION. I JUST WANT TO MAKE SURE WE'RE ON THE SAME PAGE BECAUSE WE CALL THIS ONE FOR FIVE. AND EVERYBODY GOT HERE.
I DIDN'T KNOW IF THAT WORKED BETTER THAN YOU WANT TO GET OUT EARLIER OR WHETHER YOU'D RATHER DO 630. I'M JUST GOING TO I'M JUST GOING TO SPEAK FOR ME.
YOU KNOW, SOMETIMES FIVE IS TOUGH.
MAKE THEM WORK FOR WORKSHOP APPOINTMENTS.
BUT, LIKE, IF I'M NOT REMOTE OR SOMETHING LIKE THAT, IT'S TOUGH TRYING TO GET DOWN TO READY TO GET HERE BY FIVE.
LET'S PUT THIS ON THE NEXT AGENDA, AND THEN WE CAN KIND OF DISCUSS IT MORE AND
[00:20:01]
TAKE OFFICIAL ACTION AS FAR AS THE START TIME AND JUST MAYBE KICK THE IDEA AROUND AND THEN PUT IT ON THE AGENDA. OKAY. TAKE ACTION. GOOD DEAL.ALTHOUGH, WITH THAT OF BEING ACTION UNDER MY REPORT, I PROBABLY COULD TALK ABOUT MEETING TIMES AND DATES LEGALLY, COULD I NOT? YOU COULD DISCUSS IT.
BUT AS FAR AS ACTUALLY GIVING.
YEAH. SETTING THE TIME, BECAUSE IT WILL ALSO REQUIRE AN AMENDMENT TO YOUR BYLAWS, BECAUSE YOUR BYLAWS SPECIFY CERTAIN DATE AND TIME.
THE NEXT THING, AND AGAIN, NOT TO DISCUSS, BUT TO KEEP IN MIND OR THINK ABOUT, IS WHETHER THERE'S ANY MAGIC TO THE FIRST WEEK OF THE MONTH FOR EVERYBODY.
THE REASON FROM OUR SIDE THAT I ASKED YOU TO THINK ABOUT IT AND WE'LL PUT IT ON THE NEXT AGENDA, IS THAT IN ORDER TO CLOSE OUT A MONTH'S FINANCIALS AND ALSO TO GET OUR SALES TAX INCOME FOR THE MOST RECENT MONTH, WE'RE ALWAYS GOING TO BE BEHIND A MONTH IF WE KEEP IT THE FIRST WEEK.
IF WE DID IT THIS WEEK, EVERY MONTH, THE THIRD WEEK, WE'D BE ABLE TO GIVE YOU UPDATED FINANCIALS AND ALL THAT STUFF SO THAT WE'LL PUT THAT ON.
WE'RE ALREADY PLANNING ON PUTTING IT ON THE NEXT AGENDA TO DISCUSS. BUT SINCE WE'RE HERE, I WANTED TO GIVE YOU TIME TO THINK ABOUT IT. AND YOU HAVE ANY ISSUES. I MEAN, WE'RE HERE ANYWAY. IT DOESN'T MATTER TO US, BUT JUST TO LAY THAT OUT.
I THINK. IS THAT THE LAST THING BEFORE THE THE TRAINING? WE HAVE TO APPROVE THE CONSENT AGENDA, WHICH IS THE MINUTES AND THE FINANCIALS.
THANK YOU JIM. WE'LL MOVE ON TO EDC BOARD REPORT ITEMS. EDC BOARD OF DIRECTORS REPORT ABOUT ITEMS OF COMMUNITY INTEREST IN WHICH NO ACTION WILL BE TAKEN. DO WE HAVE ANY? OKAY. ALL RIGHT. MOVING ON TO THE CDC REPORT BOARD.
REPORT ITEMS CDC BOARD OF DIRECTORS REPORT ABOUT ITEMS OF COMMUNITY INTEREST IN WHICH NO ACTION WILL BE TAKEN. DOES ANYBODY HAVE ANYTHING THEY WANTED TO PUT OUT THERE FOR TODAY? OKAY. WE CAN GO AHEAD AND MOVE FORWARD.
[K. CONSENT AGENDA (Part 1 of 2)]
CDC. ON THE. WE'LL TAKE A MOTION ON THE CONSENT AGENDA.ALL CONSENT AGENDA ITEMS LISTED ARE CONSIDERED TO BE ROUTINE BY THE COMMUNITY DEVELOPMENT CORPORATION, AND WILL BE ENACTED BY ONE MOTION.
THERE WILL BE NO SEPARATE DISCUSSION OF THESE ITEMS UNLESS A BOARD MEMBER.
SO REQUEST IN WHICH EVENT THE ITEM WILL BE REMOVED FROM THE CONSENT AGENDA AND CONSIDERED IN HIS NORMAL SEQUENCE ON THE REGULAR AGENDA.
I'LL GO AND ENTERTAIN A MOTION.
I MAKE A MOTION TO APPROVE THE CONSENT AGENDA.
I SECOND. ALL RIGHT. WE'LL TAKE A QUICK ROLL CALL.
VOTE. MR. EVANS. YES. MR. ASH. YES. MISS NED. YES.
YES. THAT IS. YES. MISTER THORNTON.
YES. ALL RIGHT. AND MISS SAMUEL.
YES. AND THAT PASSES SEVEN ZERO.
OKAY. WE'LL MOVE TO APPROVE THE SAME.
SAME CONSENT AGENDA FOR THE EDC.
THIS IS THE JOINT SPECIAL MEETING MINUTES.
OH, I MAKE A MOTION TO APPROVE THE JOINT SPECIAL MEETING MINUTES.
OKAY. AND WE'LL DO A ROLL CALL VOTE.
JAMES MILLER. YES. MARCUS BINGHAM.
THIS PASSES SIX ZERO. THE NEXT ONE.
I NEED A EDC MINUTES IS OUR NEXT ITEM.
CONSIDER APPROVING THE MINUTES FROM THE JANUARY 6TH, 2025 ECONOMIC DEVELOPMENT CORPORATION MEETING.
I THINK YOU JUST APPROVED ALL THOSE UNDER CONSENT? I THINK THEY WERE ALL GROUPED TOGETHER.
OKAY. OKAY. OKAY. WE'LL MOVE TO THE REGULAR AGENDA ITEMS.
[L. REGULAR AGENDA]
PDC SELECTION OF OFFICERS DISCUSSING AND APPOINT OF APPOINTMENT OF EDC CHAIRPERSON, VICE CHAIRPERSON, SECRETARY AND TREASURER.ANYONE NOMINATE FOR. THIS IS AN ANNUAL DEAL THAT WE HAVE TO DO EVERY YEAR.
A MOTION THAT MIKE THOMPSON REMAINS THE CHAIRMAN.
I SECOND, DO WE NEED A VOTE ON THAT? YES. OKAY. WE'LL TAKE A ROLL CALL.
[00:25:03]
YES. JAMES MILLER. YES.MARCUS BINGHAM. YES. JOSHUA HARRELL.
YES. PASSES 60. SO WE'LL MOVE TO THE NEXT POSITION, VICE CHAIR, AND I'LL NOMINATE MICHAEL CRAWFORD.
OKAY. AND WE'LL DO A ROLL CALL VOTE.
MICHAEL CRAWFORD. JAMES MILLER.
MORRISON. YES. PASSES SIX ZERO.
AND WE'LL MOVE TO SECRETARY NOMINATION.
SECOND. SO Y'ALL DIDN'T JUMP ON THAT QUICK ENOUGH.
BY THE TIME IT GOT TO HIM, HE LEARNED HE'S LIKE, OKAY, THIS IS MY ONE WAY OUT.
ROLL CALL VOTE. MIKE THOMPSON.
MORRISON. YES. PASSES SIX ZERO.
AND LAST BUT NOT LEAST, TREASURER NOMINATIONS JOSHUA HARRELL.
WELL, I'LL TAKE A ROLL CALL. VOTE. MIKE THOMPSON. YES.
JAMES MILLER. YES. MARCUS BINGHAM.
YES. JOSHUA HARRELL AND SESAME MORRISON.
YES. PASSES SIX ZERO. IN THE FUTURE, ACTIONS LIKE THAT DON'T HAVE TO BE A ROLL CALL. DO THEY HAVE TO BE? ALL IN FAVOR? I'LL POST. ALL RIGHT. MOVING ON TO 2020 5-006 PCD SELECTION OF OFFICERS, DISCUSSION PERSON.
VICE CHAIR, SECRETARY AND TREASURER.
I'LL TAKE A MOTION FOR CHAIRPERSON.
I'LL MAKE A MOTION THAT WE KEEP JEFF WASHINGTON AS CHAIRMAN.
WE'LL TAKE A ROLL CALL. VOTE MYSELF, JEFF WATSON.
YES, MR. EVANS. YES, MR. ASH? YES, MISS. NED. YES, MR. THORNTON. YES, MISS PETTIS? YES. AND MISS SAMUEL. YES.
ALL RIGHT. THAT PASSES SEVEN ZERO.
NEXT ONE ON THE VICE CHAIR PERSON.
I WILL NOMINATE MR. EVANS TO REMAIN AS THE VICE CHAIR FOR THE BOARD.
SECOND. YEAH. ALL RIGHT, WE'LL TAKE A ROLL CALL.
VOTE YES. JEFF WATSON, MR. EVANS. YES, MR. ASH? YES, MISS.
NED. YES, MR. THORNTON? YES, MISS PETTIS? YES.
AND MISS SAMUEL. YES. ALL RIGHT.
AND I WILL ENTERTAIN A MOTION OR NOMINATION FOR SECRETARY.
I WOULD LIKE TO VOTE. IT'S WORKING.
WE'LL TAKE A ROLL CALL. VOTE MR. ASH FOR SECRETARY. I VOTE YES.
MR. EVANS. YES. MR. ASH? YES. MISS NED. YES. MR. THORNTON. YES. MISS PETTIS? YES. AND MISS SAMUEL. YES.
ALL RIGHT. AND THEN WE'LL ENTERTAIN A NOMINATION FOR TREASURER.
JUST A LITTLE BIT. I'D LIKE TO NOMINATE AHMAD THORNTON AS TREASURER.
WE'LL DO A ROLL CALL. VOTE FOR MR. THORNTON AS TREASURER.
YES, MISS. NED. YES. MR. THORNTON? YES. MISS PETTIS.
AND MISS SAMUEL. YES. ALL RIGHT.
THAT ALSO PASSES SEVEN ZERO AND CONCLUDES OUR SELECTION OF OFFICERS.
HEY, CHAIRMAN THOMPSON, BEFORE WE MOVE FORWARD,
[K. CONSENT AGENDA (Part 2 of 2)]
COULD YOU GO BACK TO THE CONSENT AGENDA AND ENTERTAIN ANOTHER MOTION TO APPROVE THE ENTIRE CONSENT AGENDA, NOT JUST ITEM ONE, JUST TO MAKE IT MAKE CLEAR FOR THE RECORD. TO GO AHEAD AND READ ALL OF IT.NOW, I'D LIKE TO HAVE A MOTION TO APPROVE THE CONSENT AGENDA FROM THE EDC.
AGENDA. SECOND, AND WE'LL DO A ROLL CALL.
YOU BET. ANYTHING THAT MAKES YOU HAPPY.
[00:30:01]
WE DON'T HAVE ANYTHING FOR EXECUTIVE SESSION, SO WE'LL MOVE TO THE WORK SESSION.[O. WORK SESSION]
AND THAT WILL BE EDC, CDC 2025-001 2020 £0.05 EDC AND P CDC TRAINING AND OBJECTIVE OBJECTIVES.TRAINING, PRESENTATION AND DISCUSSION REGARDING THE RULES, LAWS, AND PURPOSES OF THE EDC AND CDC CORPORATIONS.
CAN EVERYBODY SEE THAT WITHOUT DIM THE LIGHTS.
THIS IS NOT THE BEST. YEAH, IT IS A LITTLE BLURRY.
I PROMISE IT WASN'T BLURRY WHEN I DID IT.
AND I'M GLAD YOU SAID THAT BECAUSE I'M LOOKING AT GOING, OH, MY, WHAT IS WRONG WITH ME? ALL RIGHT. WELL, THAT'S.
THAT'S SUBOPTIMAL, BUT THAT'LL WORK.
THE HOPE FOR TONIGHT AFTER HAVING CONVERSATIONS WITH THE CHAIRS IS ULTIMATELY WE'RE GOING TO GET TO A POINT WHERE WE'RE GOING TO DO SOME STRATEGIC PLANNING WITH THESE BOARDS. AND WHAT I WANTED TO DO TO START FRESH IS TO KIND OF DO A JOINT TRAINING SESSION TO TALK ABOUT KIND OF THE ORIGIN OF THE OF THESE LAWS THAT CREATE, BECAUSE OUR ORGANIZATIONS ARE RUN BY EACH ONE HAS ITS OWN LAW THAT GOVERNS EXACTLY WHAT WE CAN AND CAN'T DO. IN OTHER WORDS, THE CITY, THE MAYOR, THE CITY MANAGER CAN'T COME TO ME AND SAY, JIM, WE'RE TAKING 2.5 MILLION OUT OF YOUR BUDGET BECAUSE WE NEED IT FOR THIS STREET.
THEY CAN'T DO THAT. IF THIS BOARD DOESN'T APPROVE.
THESE BOARDS DON'T APPROVE AN EXPENDITURE.
THE EXPENDITURE CANNOT HAPPEN.
SO I WANTED TO KIND OF LAY THE GROUNDWORK ON SOME OF THE JUST BASICS.
THIS IS NOT MEANT TO BE EXHAUSTIVE OF EVERYTHING THAT YOU NEED TO KNOW ABOUT THESE ORGANIZATIONS. IT'S KIND OF A 30 ZERO ZERO ZERO FOOT VIEW.
I WOULD ASK AS WE MOVE FORWARD.
ASK THEM AS WE GO. CONTRARY TO POPULAR BELIEF, I DON'T LOVE LISTENING TO MYSELF TALK FOR OVER AN HOUR.
SO AS SOMETHING COMES UP, IF YOU'RE NOT SURE YOU DON'T UNDERSTAND IT OR SOMETHING DOESN'T SOUND RIGHT.
IT'S NOT JUST ME. AND WE CAN KIND OF TALK THROUGH THEM AND EVERYBODY WILL BENEFIT FROM IT. SO THE ONE SLIDE DECK, I'M NOT GOING TO TELL HOW MANY SLIDES IT IS, BECAUSE YOU'LL START COUNTING WHEN YOU'RE READY TO GET OUT OF HERE. BUT IT ENCOMPASSES BOTH ORGANIZATIONS. SO AS YOU LOOK AT THE TITLE, SOME WILL SAY EDC. SOME WILL SAY CDC.
AND AT THE END OF THE DAY, I THINK ONE OF THE BIG TAKEAWAYS YOU'VE HEARD ME SAY BEFORE IS THAT THESE TWO, ALTHOUGH YOU'VE GOT THERE ARE DIFFERENCES TO THEM AND THERE ARE TWO DIFFERENT CORPORATIONS. YOU'RE MORE ALIKE THAN YOU ARE DIFFERENT. YOU DO HAVE DIFFERENCES, BUT YOU HAVE A LOT OF THINGS YOU HAVE IN COMMON. LET ME. WILL THIS WORK? IF IT'S NOT IN PRESENTATION MODE, I'LL BE WELL.
IT WON'T BECAUSE THE TRANSITIONS DON'T WORK.
IF IT'S NOT IN THE ANIMATIONS, IT DOESN'T MATTER.
I SPENT THREE DAYS PUTTING THESE ANIMATIONS IN HERE AND THEY'RE NOT WORKING. I'M JUST SAYING. BUT THERE'S TWO TYPES OF ECONOMIC DEVELOPMENT CORPORATIONS THE ECONOMIC DEVELOPMENT, THE TYPE A OR FOR A START, AS FOR NOW, IT'S TYPE A CAME FIRST IN 1989.
AND THAT WAS TO GIVE TEXAS CITIES, PARTICULARLY NON-METRO CITIES, AN OPPORTUNITY TO COMPETE.
WE'RE ABLE TO GET A SALES TAX TO FUND ECONOMIC DEVELOPMENT SO WE CAN COMPETE WITH YOUR DALLAS'S AND HOUSTON'S AND AUSTIN'S.
IT CAN JUST PUT A FEW MILLION DOLLARS IN THEIR BUDGET.
THEY'VE GOT BUDGETS LARGE ENOUGH TO DO THAT.
SO IT GIVES US AN OPPORTUNITY TO COMPETE.
AND IT WAS DESIGNED FOR TRADITIONAL.
AND WE'LL GO THROUGH WHAT THAT MEANS LATER. BUT TRADITIONAL ECONOMIC DEVELOPMENT.
A COUPLE OF YEARS LATER, THEY PASSED COMMUNITY DEVELOPMENT CORPORATION. AND THE BIGGEST THING TO REMEMBER ABOUT COMMUNITY DEVELOPMENT ORGANIZATION OR CORPORATION IS YOU CAN DO EVERYTHING THAT THE ECONOMIC DEVELOPMENT CORPORATION DOES, LITERALLY EVERYTHING.
BUT THERE'S SOME THINGS YOU CAN DO THAT THEY CAN'T. THEY EXPANDED THE LAW FOR THIS KIND OF OTHER KIND OF CORPORATION.
SO YOU CAN DO SOME OF THE ANCILLARY THINGS THAT SUPPORT ECONOMIC DEVELOPMENT, THAT AREN'T DIRECTLY INVESTING IN PRIMARY JOBS, LIKE PARKS AND OTHER QUALITY OF LIFE ITEMS THAT HELP MAKE CITIES COMPETITIVE.
MAKE SENSE? WHAT IS ECONOMIC DEVELOPMENT? WELL, THERE'S THE THE DICTIONARY DEFINITION THEN THE DEFINITION IN ENGLISH, WHAT IT REALLY MEANS. DICTIONARY DEFINITIONS, THE PROCESS OF CREATING WEALTH THROUGH THE MOBILIZATION OF HUMAN AND OR FINANCIAL CAPITAL, FISCAL OR NATURAL RESOURCES TO GENERATE MARKETABLE GOODS AND SERVICES IN
[00:35:04]
ENGLISH. THAT JUST MEANS CREATION OF WEALTH THROUGH MAKING SOMETHING.SELLING IT OUTSIDE OF YOUR AREA AND BRINGING WEALTH TO YOUR AREA OR AND OR CREATION OF HIGHER WAGE JOBS. LIFTING THE BOAT FROM THE BOTTOM UP.
SO THE PEOPLE THAT ARE MAKING LESS MONEY IN YOUR COMMUNITY, CREATING OPPORTUNITIES FOR THEM TO MAKE MORE MONEY, BUT BENEFITS TO HELP THEIR FAMILIES, QUALITY OF LIFE TO CREATE MORE DISPOSABLE INCOME. WHAT'S COMMUNITY DEVELOPMENT? AGAIN, THERE'S A DICTIONARY DEFINITION, WHICH I THINK ACTUALLY IS KIND OF FUNNY.
THE PRACTICE AND ACADEMIC DISCIPLINES OF CIVIC LEADERS, ACTIVISTS INVOLVED CITIZENS AND PROFESSIONALS TO IMPROVE VARIOUS ASPECTS OF LOCAL COMMUNITIES. I CAN TELL YOU THAT THAT DEFINITION WAS NOT DONE BY AN ECONOMIC DEVELOPER IN ENGLISH. IT BASICALLY MEANS MAKING YOUR COMMUNITY MORE COMPETITIVE TO BE SUCCESSFUL FOR SUCCESSFUL AND SUSTAINABLE LONG TERM GROWTH, DEVELOPMENT, AND THE WELL-BEING OF YOUR COMMUNITY. AND AS YOU THINK OF THAT, THINK ABOUT THE THINGS THAT WE JUST SAID ABOUT PARKS OTHER QUALITY OF LIFE THINGS.
THOSE THINGS MATTER WHEN WE'RE WHEN DESHAWN AND I ARE TALKING TO A COMPANY TO COME HERE THEY WANT TO KNOW ABOUT THE COMMUNITY. THEY DON'T JUST WANT TO KNOW ABOUT INCENTIVES.
BUT THEY WANT TO KNOW ABOUT THE COMMUNITY. DO THEY WANT TO LIVE HERE? DO THEY WANT TO DRIVE HERE EVERY DAY TO WORK AND SPEND MONEY AT LUNCH AND HANG OUT IN THE COMMUNITY? DO THEY WANT THEIR EMPLOYEES TO LIVE HERE? ALL THAT STUFF MATTERS.
WHERE? THE CDC WERE JUST ON CDC ON THIS ONE.
BUT I HAVE A FEELING THERE COULD BE SOME SWITCH OVER ON BOARDS IN THE FUTURES THAT SOME THAT SERVE ON THE CDC MAY END UP ON THE CDC IN THE FUTURE.
ADC COULD END UP ON THE CDC SO IT PAY ATTENTION TO BOTH.
THE LAW SAYS WHAT THE BOARD'S SUPPOSED TO LOOK LIKE AND POPULATION MATTERS WITH THE CDC. THE RULES ARE A LITTLE BIT DIFFERENT FOR A CITY UNDER 20,000, AND THEY ARE FOR A CITY OVER 20,000.
AND THE REASON THAT IS, IS THEY WERE CHANGING THE LAW A NUMBER OF YEARS AGO TO EXPAND IT, AND A BUNCH OF OTHER CITIES THAT WORKED.
A BUNCH OF US THAT WORK FOR CITIES, OVER 20,000 SAID, YOU CAN DO THAT, BUT IF YOU DO IT, MAKE IT APPLY TO SMALLER CITIES AND NOT US.
THE PEOPLE THAT ARE REALLY ASKING FOR THE EXPANSION OF THE LAW GIVE THEM AN OPPORTUNITY TO USE IT. HOW THEY NEED TO USE IT.
DON'T MAKE IT APPLY TO US, BECAUSE EVERY TIME YOU EXPAND THE LAW, YOU PUT THOSE DOLLARS A LITTLE BIT MORE IN PERIL.
EVERY TIME YOU EXPAND IT FOR ANOTHER USE, YOU GOT MORE PEOPLE WANTING THE MONEY.
AND IT'S NOT WHAT IT WAS ORIGINALLY INTENDED FOR.
BUT HERE, AS YOU CAN READ, THE LAW SAYS THE BOARD SHALL CONSIST OF SEVEN BOARD MEMBERS. THEY SHALL LIVE IN THE CITY UNLESS YOU'RE UNDER 20,000.
THEN THEY CAN LIVE IN THE CITY OR THE COUNTY THE CITY IS IN, OR WITHIN TEN MILES, OR ON A BUSINESS INSIDE THE CITY LIMITS.
I WILL TELL YOU, AT THE CENSUS, THE POPULATION HERE WAS 17,027.
SO IN THE EYES OF THE LAW, PRINCETON IS GOING TO BE 17,027 PEOPLE UNTIL 2030, BECAUSE THAT'S THE NEXT TIME THERE'S AN OFFICIAL CENSUS WHERE THEY LEGALLY CHANGE YOUR POPULATION NUMBER, UNLESS WE PASS AN ORDINANCE ACCEPTING A HIGHER NUMBER. BUT WE HAVE NOT DONE THAT.
I WILL SAY, BUT I'LL ALSO MENTION THAT ALTHOUGH YOU CAN DO THAT.
IT'S BEST PRACTICES FOR US TO RUN THE ORGANIZATION AS OVER OVER 20,000, BECAUSE WE CLEARLY ARE.
YEAH. JIM, I WAS JUST GOING TO ADD THE CITY COUNCIL BACK IN AUGUST OF 2023 ACTUALLY DID PASS A RESOLUTION FINDING THAT THE OFFICIAL POPULATION WAS JUST SHY OF 27,000.
OKAY. SO I JUST WANTED TO ADD THAT IN THERE.
ALL RIGHT. THANK YOU. SAME WITH THE USE OF FUNDS.
THERE'S A SPECIAL SECTION WRITTEN IN THE CDC LAW FOR CITIES UNDER 20,000 THAT GIVES THEM A LITTLE BIT MORE LEEWAY HOW TO SPEND THE MONEY.
AND THE IMPORTANT PART OF THAT IS FOUND BY THE CORPORATION'S BOARD OF DIRECTORS TO PROMOTE NEW OR EXPANDED BUSINESS ENTERPRISES.
THEY MADE THAT VERY VAGUE ON PURPOSE.
KIND OF GIVES YOU AN OPPORTUNITY TO DO A LOT OF DIFFERENT THINGS. AGAIN, THAT SECTION, PARTICULARLY NOW THAT THE CITY COUNCIL HAS ACTUALLY ADOPTED A RESOLUTION SAYING WE'RE OVER 20. WE NEED TO LIVE BY THE OTHER LAW.
BUT THERE'S ANOTHER SECTION THAT LETS US DO WHAT WE NEED TO DO.
BUT CDC POPULATION MATTERS CDC.
SO A YEAR AGO WE HAD TO BE REAPPOINTED.
[00:40:01]
SO MY QUESTION IS ABOUT THE MAXIMUM TERM THERE.IT SAYS REAPPOINTED WITHOUT LIMIT.
WE WERE REAPPOINTED AND TOLD DO YOU SERVE TWO.
SO IS THAT A DIFFERENCE? WELL, THERE'S A DIFFERENCE BETWEEN STATE LAW AND LOCAL POLICY. YES, SIR.
YEAH. IS THAT AND WHAT I'M WHAT I'M SPEAKING TO UP HERE IS THE STATE LAW.
BUT YOU'RE EXACTLY RIGHT. AND AND MOST CITIES DO PUT TERM LIMITS ON IT, BUT THE STATE DOESN'T MAKE THEM.
THAT'S A LOCAL DECISION TO MAKE.
YEAH. IN THE CHARTER THE CHARTER SPECIFIES TWO YEARS.
SO IT CAN'T BE MORE THAN SIX YEARS.
BUT THE TERMS CAN'T BE MORE THAN SIX YEARS, BUT THE CHARTER SPECIFIES TWO YEARS FOR PRINCETON. SO JUST LAST WEEK AND I ANY OTHER QUESTIONS ON THAT BEFORE I..
LAST WEEK I WAS RECALCULATING OUR POPULATION AND I WAS RECALCULATING IT FOR THIS TONIGHT SO I COULD GIVE YOU A BETTER UPDATE ON WHERE WE STAND.
AND I WAS EVEN A LITTLE BIT SURPRISED.
NOW, WE WERE NAMED THE THIRD FASTEST GROWING CITY IN AMERICA, AND THEY WERE SHOWING 28,000 AND CHANGE IN IN PRINCETON.
THAT WAS A YEAR AGO, WITHIN THE LAST YEAR.
OUR CURRENT POPULATION AND AND IF YOU READ THE SLIDE, IT TELLS YOU HOW I CAME TO THE NUMBER, BUT I BELIEVE IT'S THE MOST ACCURATE WAY TO ESTIMATE POPULATION. AND I COULD ARGUE VERY VEHEMENTLY THAT THIS IS FAR MORE ACCURATE THAN THE CENSUS, BECAUSE THE CENSUS PEOPLE AREN'T HOME OR PEOPLE WON'T ANSWER THE DOOR, AND IF THEY DON'T ANSWER THE DOOR, THEIR DATA DOESN'T GO IN.
AND SO HOW I DID THIS IS I GOT THE THE NUMBER.
WE KEEP A VERY CLOSE TRACK OF EXACTLY HOW MANY RESIDENTIAL WATER CONNECTIONS WE HAVE WITH THE CITY. NOT ONLY DO WE COUNT THE CONNECTIONS, BUT WE COUNT WHICH ONES ARE ACTIVE ACCOUNTS, WHICH IS EVEN A SMALLER NUMBER.
SO I TOOK OUR NUMBER OF ACTIVE ACCOUNTS, BOTH SINGLE FAMILY AND MULTIFAMILY.
THEN I WENT TO THE CENSUS AND THE CENSUS.
EVERY TIME THEY DO A CENSUS, THEY'LL COME UP WITH AN AVERAGE PEOPLE PER HOUSEHOLD. NOW THAT'S PRETTY ACCURATE.
AND IT CAME UP WITH 3.07 IN PRINCETON.
THAT'S HIGHER THAN THE NATIONAL AVERAGE. THE NATIONAL AVERAGE IS ABOUT 2.68.
BUT THE REASON FOR THAT IS THAT THE AVERAGE PEOPLE PER DWELLING IS HIGHER FOR SINGLE FAMILY HOMES THAN IT IS FOR APARTMENTS.
YOU HAVE A LOT OF YOUR SINGLE PEOPLE IN APARTMENTS.
YOU HAVE FEWER SINGLE PEOPLE BUYING, BUYING A HOUSE ON THEIR OWN.
THERE ARE MORE FAMILIES AND SO IT JUST MAKES SENSE.
WE HAVE ABOUT 14,000 SINGLE FAMILY HERE AND ONLY A THOUSAND MULTI FAMILY CONNECTIONS THAT ARE ACTIVE. SO THAT'S WHY OURS A LITTLE BIT HIGHER.
THINK ABOUT THAT. FOUR YEARS AGO THEY CAME UP WITH 17,027.
LAST WEEK 43,646. THAT IS EXPLOSIVE GROWTH.
THERE'S A LOT OF ARGUMENTS WHETHER THAT'S GOOD OR NOT. WELL, WE'LL COME TO A SLIDE.
BUT THERE IS THAT THAT'S IMPORTANT FOR A NUMBER OF REASONS, AND WE'LL COVER THAT IN A FEW SLIDES.
BACK TO THE EDC. THE EDC IS LESS RISKY, LESS RESTRICTIVE ON BOARDS.
STATE LAW SAYS YOU HAVE TO HAVE AT LEAST THREE MEMBERS.
THEY CHANGE THAT RECENTLY. IT USED TO BE A MINIMUM OF FIVE.
NOW IT'S A MINIMUM OF THREE PER STATE LAW, BUT THERE'S NO RESIDENCY REQUIREMENT BY STATE LAW. YOU DON'T HAVE TO LIVE IN THE CITY OR OWN A BUSINESS IN THE CITY.
HOWEVER, CITY CHARTER SAYS ANYTIME A LEGAL DOCUMENT SAYS CIAO.
SO IT SAYS YOU SHALL HAVE SEVEN MEMBERS THAT LIVE IN THE CITY OF PRINCETON.
SO IN THIS CASE, LIKE IN A LOT OF CASES, THE CITY, EITHER THE CITY CHARTER OR CITY ORDINANCE IS MORE RESTRICTIVE THAN THE STATE.
THEY CAN'T BE LESS RESTRICTIVE.
STATE LAW. STATE LAW. BUT YOU CAN BE MORE RESTRICTIVE.
I GUESSED RIGHT. SO THE EDC AND CDC, TOGETHER, THE BOARDS OF BOTH CORPORATIONS ARE CONSIDERED FISCAL BOARDS.
THAT MEANS THE MONEY THAT COMES IN EVERY MONTH.
NOW, I MANAGE IT ON A DAY TO DAY BASIS.
BUT YOU MAKE YOU SET THE BUDGET.
YOU MAKE THE DECISIONS ON MAJOR EXPENDITURES OUTSIDE THE BUDGET.
BEFORE EITHER CORPORATION EXPENDS FUNDS IN THE ANNUAL BUDGET ON EITHER ONE OF YOU, YOU'VE GOT TO IF IT'S NOT A BUDGETED ITEM AND IT'S FOR A SPECIFIC PROJECT,
[00:45:01]
YOU HAVE TO DECLARE IT A PROJECT, EITHER AN ECONOMIC OR COMMUNITY DEVELOPMENT PROJECT. AT A BOARD MEETING AND THEN APPROVE THE EXPENDITURE.IF IT'S OVER 10,000, IT'S GOT TO GO TO THE CITY COUNCIL TO CONFIRM YOUR VOTE.
NOW, LIKE I MENTIONED EARLIER, IF AN EXPENDITURE OR PROJECT COMES TO THIS TO ONE OF YOUR BOARDS IF IT'S, SAY YOU'VE GOT A PROJECT THAT ONE OF THESE BOARDS OR BOTH OF THESE BOARDS HAVE APPROVED, YOU CAN ACTUALLY WORK PROJECTS TOGETHER BECAUSE YOU HAVE A LOT OF CROSSOVER AND WHAT YOU'RE ALLOWED TO DO. YOU VOTE TO APPROVE A PROJECT THAT'S GOING TO COST $100,000.
THEN IT GOES TO THE CITY COUNCIL.
THEY CAN OVERTURN THAT AND SAY, NO, WE DON'T THINK THAT'S IN THE BEST USE OF THE CITY. WE'RE NOT GOING TO APPROVE THAT EXPENDITURE.
SAME SITUATION. IF A PROJECT COMES TO THESE BOARDS AND IT SAYS IT'S GOING TO BE $100,000, AND THESE BOARDS BOTH VOTE NO.
IT DOESN'T EVEN GO TO CITY COUNCIL BECAUSE THEY CANNOT OVERTURN YOU.
THE STATE SET IT UP TO WHERE THESE BOARDS ARE THE FISCAL AGENT FOR THIS FUND.
AND THEY DID THAT BECAUSE IT'S A FUND VOTED ON BY THE CITIZENS FOR A SPECIFIC USE.
AND WHAT THEY DON'T WANT TO HAPPEN, WHICH HAD HAPPENED IN SOME COMMUNITIES BEFORE THEY GOT IN TROUBLE, IS THEY VOTED THE LAW IN.
THE CITY MANAGER ROLLED THE FUNDS INTO THEIR INFRASTRUCTURE FUND AND JUST DID WATER SEWER PROJECTS WITH THEM. AND THE EDC AND CDC HAD NEVER EVEN SAW THEIR MONEY.
THEY DON'T WANT THAT TO BE ABLE TO HAPPEN. SO THEY SAY, YOU KNOW, WE'RE GOING TO GIVE THEIR BOARD THE OPPORTUNITY TO APPROVE IT, AND THEN THE CITY COUNCIL CAN CAN CONFIRM IT.
THERE ARE DIFFERENCES IN THE PROCESS FOR EXPENDING FUNDS.
A TYPE A, TYPE A DOESN'T HAVE TO HOLD A PUBLIC HEARING.
TYPE A PROJECTS VIRTUALLY ALL TYPE A PROJECTS ARE CONFIDENTIAL.
YOU'RE RECRUITING A COMPANY FOR A SPECIFIC THING YOU'RE NOT ALLOWED TO DO PARKS AND OTHER AMENITY TYPE THINGS.
THEY'RE ECONOMIC DEVELOPMENT PROJECTS.
YOU DON'T HAVE TO HAVE A PUBLIC HEARING.
FOR THE MOST PART. I ALWAYS DO PUBLIC HEARINGS.
NOW WE'RE VERY CAREFUL HOW WE DO A PUBLIC HEARING.
THERE'S INFORMATION WE DON'T INCLUDE, AND WE CAN'T INCLUDE IT BECAUSE OF THE COMPANY WE'RE DEALING WITH.
BUT THIS SAYS YOU DON'T HAVE TO.
NOW, A TYPE B HAS TO HAVE A PUBLIC HEARING.
AND THEY CAN'T WRITE A CHECK FOR 60 DAYS AFTER THE BOARD VOTES.
YES. THE REASON FOR THAT, AND THIS IS WHERE THE LAW IS REALLY WEIRD AND THEY KNOW THIS AND THEY'RE NOT GOING TO CHANGE IT BECAUSE THEY DID IT ON PURPOSE. YOU CAN'T WRITE A CHECK FOR 60 DAYS BECAUSE THEORETICALLY, THE CITIZENS HAVE 60 DAYS TO GATHER A PETITION OF 10% OF THE REGISTERED VOTERS TO KEEP YOU FROM SPENDING MONEY ON THAT PROJECT.
HOWEVER, YOU CANNOT FORCE AN ELECTION ON A PROJECT OR TYPE OF PROJECTS THAT HAS PREVIOUSLY BEEN APPROVED.
WELL, DEPENDING ON HOW YOUR BALLOT LANGUAGE WAS, IF YOUR BALLOT LANGUAGE WAS BROAD AND SAYS TO BE USED FOR ANY AND ALL LEGAL EXPENDITURES AS PER THE LAW, THE CITIZENS LITERALLY CAN'T FORCE AN ELECTION.
IT'S IMPOSSIBLE, BUT YOU STILL HAVE TO WAIT 60 DAYS.
THEY CAN TURN IT INTO A THE PETITION, YOU GO, OH, THIS IS GREAT. WE'RE NOT CALLING AN ELECTION BECAUSE WE'VE DONE ONE OF THESE PROJECTS BEFORE. SO SO YOU HAVE TO WAIT 60 DAYS.
YOU CAN MAKE A DECISION IN THAT 60.
YOU CAN MAKE A FINAL DECISION. YES. WE'RE GOING TO DO THIS PROJECT WITHIN 60 DAYS.
YOU JUST CAN'T PHYSICALLY WRITE THE CHECK FOR 60 DAYS.
THAT THAT DOESN'T APPLY TO THE CDC.
THIS HAS THE SAME THING WITH A WITH A COMMUNITY DEVELOPMENT CORPORATION.
TECHNICALLY, BY LAW, IF WE WERE UNDER 20,000, WHICH DUE TO THE CITY COUNCIL SAYING THEY ADOPTED THE RESOLUTION SAYING THAT WE'RE OVER 20,000, BUT IF WE WERE UNDER, YOU WOULDN'T HAVE TO DO A PUBLIC HEARING FOR A PROJECT THAT IS LEGAL FOR THE TYPE A TO DO SO.
IF THE CDC WAS PARTNERING WITH THE EDC ON A PROJECT AND IT'S AN ECONOMIC DEVELOPMENT PROJECT THAT'S ALLOWED BY THEIR LAW, YOU WOULDN'T HAVE TO DO A PUBLIC HEARING. BUT WE'RE OVER 20,000 NOW.
WE'RE OVER 20,000. SO WE'RE GOING TO DO THE PUBLIC HERE AGAIN.
THE TYPE JUST HAS TO BE APPROVED BY THE BOARD. IF IT'S OVER 10,000.
MAKES SENSE. HERE ARE THE DIFFERENCES.
TYPE A IS INTENDED FOR TRADITIONAL ECONOMIC DEVELOPMENT WHICH IS A CREATION OF PRIMARY JOBS, MANUFACTURING JOBS, CORPORATE HEADQUARTERS JOBS.
RESEARCH AND DEVELOPMENT TYPE JOBS.
[00:50:02]
TYPE B. AGAIN, YOU CAN DO EVERYTHING THAT TYPE A DOES.BUT IN ADDITION TO THAT, YOU CAN DO WHAT THEY CONSIDER COMMUNITY DEVELOPMENT PROJECTS AS WELL.
HEY JIM, CAN I ASK A CLARIFYING QUESTION HERE? YEP. ON YOUR TYPE A ON THAT IT SAYS AND I THINK YOU'VE SAID THIS A COUPLE OF TIMES, INDUSTRIAL AND MANUFACTURING.
IT SOUNDS LIKE THAT'S MORE OF A PHYSICAL PRODUCT, RIGHT? OR SOMETHING LIKE THAT. BUT THAT'S THE WAY THE LAW WAS ORIGINALLY INTENDED, AND THEN THEY EXPANDED IT. OKAY.
SO I WAS THINKING LIKE ALONG THE LINES OF LIKE A SERVICES COMPANY THAT SERVICES, FOR EXAMPLE, YOU DON'T PRODUCE ANYTHING.
CORRECT. WELL, THEY HAVE ADDED PROFESSIONAL OFFICE, CORPORATE, REGIONAL HEADQUARTERS, THOSE TYPES OF THINGS TO THE LAW, WHICH QUITE HONESTLY PAY ATTENTION TO THAT BECAUSE THAT MAY BE OUR SWEET SPOT.
WE WILL I'LL GET INTO IT MORE IN DEPTH FOR THE STRATEGIC PLANNING.
BUT THE WAY WE'RE ZONED, WE DON'T HAVE A WHOLE LOT OF INDUSTRIAL OR MANUFACTURING LAND, AND IT'S GOING TO BE DIFFICULT TO CREATE A LOT, A WHOLE LOT MORE. SO WE'RE GOING TO WE'LL BE WE'LL NEED TO BE CREATIVE.
I MEAN, WE CAN STILL DO SOME GREAT STUFF.
HEY, JIM, REAL QUICK, I JUST WANT TO ADD A LITTLE BIT TO THE PREVIOUS SLIDE. SO NOT TO COMPLICATE IT EVEN MORE WITH ELECTIONS AND PUBLIC HEARINGS, BUT BUT TYPE A CORPORATIONS CAN UNDERTAKE TYPE B PROJECTS, BUT IT HAS TO BE APPROVED IN AN ELECTION AFTER A PUBLIC HEARING SO THAT, YOU KNOW, THERE'S A LOT OF PROCEDURAL HURDLES THERE. BUT THEORETICALLY, A TYPE A COULD DO A TYPE B PROJECT HERE. WE'RE BLESSED.
SINCE WE HAVE BOTH. THERE WON'T BE A NEED FOR THAT.
THAT'S FOR A CITY THAT BROUGHT IN A TYPE A A LONG TIME AGO.
THEY DON'T WANT TO GO THROUGH THE PROCESS OF HAVING ANOTHER ELECTION TO CREATE A TYPE B, BUT THERE'S A PROJECT THEY REALLY WANT TO DO.
YOU CAN DO A SPECIFIC PURPOSE ELECTION JUST TO ALLOW YOU TO DO THAT ONE THING.
THANK YOU. HERE ARE EXAMPLES OF THE USES OF FUNDS.
AGAIN, TYPE B CAN DO EVERYTHING A TYPE A DOES PLUS JOB TRAINING, CLASSES, INFRASTRUCTURE, CAREER CENTERS, RAIL, MOTOR, BUS TRANSPORTATION, PROFESSIONAL SPORT AND AMATEUR SPORTS AND ATHLETIC FACILITIES. PARKS.
THE SOFT GOODS THAT MAKE THE HARD GOODS WORK.
THESE ARE THE THE COMMUNITY BUILDING THINGS THAT MAKE IT AN ATTRACTIVE PLACE FOR A COMPANY TO COME. MOVE A HEADQUARTERS HERE FOR A COMPANY TO WANT TO MOVE THEIR EMPLOYEES HERE. AND SO AGAIN, TYPE B CAN DO EVERYTHING IN TYPE A DOES.
AND AGAIN TYPE B CDC, TYPE A EDC.
ANY QUESTIONS MAKE SENSE? PRINCETON. OUR TOTAL NET TAXABLE VALUE.
BELIEVE IT OR NOT, IT'S $3.8 BILLION WITH A B, WHICH TO SOME PEOPLE SOUND A LOT TO.
SOME PEOPLE MIGHT SOUND LIKE A WHOLE.
MIGHT NOT SOUND LIKE A WHOLE LOT, BUT LET'S LOOK AT WHERE WE'VE BEEN.
AT AT THE CENSUS, WE'RE A $1.2 BILLION CITY.
GREW TO 1.5, 2.3, 3.1 AND JUST SHORT OF 3.8.
IT'S RISEN 205% IN FOUR YEARS.
AT THE CENSUS, WHEN WE WERE 1.2 BILLION, OUR TAX RATE WAS $0.65.
NOW THAT IT'S 3.8 BILLION, IT'S $0.44.
RAISE YOUR HAND. IF YOU LIKE PAYING A HIGHER TAX RATE THAN YOU HAVE TO.
IT'S IMPORTANT TO CONTINUE ADDING THE THE TAXABLE VALUE TO YOUR TAX ROLLS BECAUSE YOU'RE SPREADING THE EXPENDITURES OUT AMONG MORE TAXPAYERS.
AND IT BRINGS THE OVERALL TAX BURDEN ON EACH INDIVIDUAL DOWN.
AND AGAIN, THERE'S OTHER EXPENSES TO GO WITH THIS.
THIS IS NOT THE FULL IN DEPTH WHAT IT COSTS TO SERVICE EVERY HOME.
BUT ROOFTOPS MATTER. A THERE ARE VERY FEW HOMES BEING BUILT NOW FOR UNDER $400,000.
B THE INDUSTRIAL, RETAIL, CORPORATE HEADQUARTERS, MEDICAL RESEARCH. WHAT DO THEY NEED? THEY NEED EITHER EMPLOYEES OR THEY NEED PEOPLE SPENDING MONEY IN THEIR IN THEIR
[00:55:04]
STORES IN ORDER TO CONSIDER US.AND SO I'VE HAD SEVERAL AGAIN, I'VE BEEN HERE SIX WEEKS I THINK FIVE, SIX WEEKS. AND I'VE HAD SEVERAL CONVERSATIONS JUST THE PAST WEEK.
AND WHEN THEY SAY, WELL, I KNOW YOU'RE A HIGH GROWTH CITY, WELL, YOU HAVE, BUT LET ME TELL YOU THE REAL STORY.
WE'RE NOT JUST A HIGH GROWTH CITY.
AT THE CENSUS, WE WERE 17,027 PEOPLE.
AND AS OF LAST WEEK, WE'RE OVER 43,000.
I MEAN, WE'RE NOT JUST RAPIDLY GROWING, WE'RE EXPLODING.
AND WITH SOME RETAILERS THAT WOULDN'T NORMALLY GO INTO A CITY OUR SIZE, THEY NOTICED THAT BECAUSE THEY WANT TO GET IN EARLY. LET'S SEE IF WE CAN.
WE NEED TO WE NEED TO START FINDING LAND.
IT ALSO MATTERS TO YOUR CORPORATE HEADQUARTERS AND PEOPLE LIKE THAT. IF YOUR POPULATION IS EXPLODING, PEOPLE WANT TO LIVE THERE AND PEOPLE WANT TO LIVE THERE, IT CATCHES THEIR ATTENTION. THEY'RE LIKE I NEED TO AT LEAST LOOK INTO THIS. WHY DOES EVERYBODY WANT TO LIVE THERE? WHY IS IT GROWING SO FAST? BUT THAT'S $0.21 AND TAX DROP.
AND FOUR YEARS. THAT'S A BIG NUMBER.
IF YOU STAY LEVEL ON YOUR TAXES YOU'RE GENERALLY DOING PRETTY GOOD.
IF YOU CAN DROP THEM $0.21 SENSE.
YOU'RE DOING SOMETHING. OKAY, THIS WAS REALLY COOL.
AND IT'S KIND OF THE FOUNDATIONAL THINGS TO ECONOMIC DEVELOPMENT.
EVERYONE'S LIKE, WELL, WHAT DO YOU DO? WHAT'S IMPORTANT TO ECONOMIC DEVELOPMENT? WHAT IS ECONOMIC DEVELOPMENT? WELL, THE CENTER CIRCLE IS WHAT IT ACTUALLY IS.
AND THIS IS ECONOMIC AND COMMUNITY DEVELOPMENT.
BUT EDUCATION IS INCREDIBLY IMPORTANT TO BOTH CORPORATIONS.
QUALITY OF LIFE, INCREDIBLY IMPORTANT TO BOTH CORPORATIONS FOR US TO BE SUCCESSFUL.
IT'S JUST THE CDC. THAT'S YOUR WHEELHOUSE.
QUALITY OF LIFE. THAT THAT THAT IS THE ALPHA AND THE OMEGA.
THAT'S WHAT WE FOCUS ON, IS TO MAKE THIS AN INCREDIBLE PLACE TO BE.
TOURISM. IF YOU CAN GET PEOPLE TO COME INTO OUR COMMUNITY, EMPTY THEIR WALLET AND GO HOME, THAT'S ECONOMIC DEVELOPMENT.
THEY ARE BRINGING WEALTH INTO YOUR COMMUNITY AND SUPPORTING YOUR RETAILERS.
TRANSPORTATION GOES WITHOUT SAYING.
PEOPLE AREN'T GOING TO SPEND MONEY AND PEOPLE AREN'T GOING TO LIVE HERE IF THEY CAN'T GET HERE. AND THIS CITY SPENDS A LOT OF MONEY ON TRANSPORTATION.
POPULATION GROWTH. WE ALREADY COVERED THAT SENSE OF PLACE GOES ALONG WITH QUALITY OF LIFE. WHAT IS PRINCETON? WHAT'S OUR IDENTITY? DO PEOPLE LIVE HERE BECAUSE THEY CAN'T AFFORD TO LIVE IN MCKINNEY? OR DO THEY LIVE HERE BECAUSE THEY WANT TO LIVE HERE? WHAT'S OUR SENSE OF PLACE? WHAT DO WE WANT TO HANG OUR HAT ON? REDEVELOPMENT DOWNTOWN? I WOULD ARGUE WE DON'T HAVE A BIG, VIBRANT DOWNTOWN.
WE HAVE A LOT OF OPPORTUNITY DOWNTOWN.
AND THAT'S THE HEART OF THE ORIGINAL CITY.
I ALWAYS THINK YOU NEED TO TAKE CARE OF THE HEART OF THE ORIGINAL CITY.
THE OLD SAYING IF THE HEART DIES, THE LIMBS GO WITH IT.
TURN IT INTO SOMETHING THAT DRIVES PEOPLE.
THEY DON'T WANT TO ALL GO TO 380.
THEY WANT TO GO DOWNTOWN BECAUSE THERE'S A MICROBREW, OR THERE'S A COOL RESTAURANT, OR THERE'S A CHICKEN PICKLE WHERE THEY CAN PLAY PICKLEBALL AND HAVE A BEER, WHATEVER.
JUST SOMETHING THAT IS WALKABLE THAT PEOPLE WANT TO GO AND ENJOY.
REGULATION AGAIN, IF YOU OVERREGULATE, YOU KNOW, I THINK I'M FAIRLY GOOD AT WHAT I DO.
IF WE OVERREGULATE, I'M WASTING MY TIME.
I MEAN, COMPANIES AREN'T COMING TO A CITY THAT THAT NOW YOU NEED REGULATIONS.
AND I NEVER FIGHT WITH THE SENSIBLE REGULATIONS WE HAVE, AND I NEVER. I MAKE A DEAL WHEN I GO TO EVERY CITY WITH CODE ENFORCEMENT AND WITH PUBLIC WORKS AND DEVELOPMENT SERVICES, I WILL NEVER, EVER, EVER ARGUE WITH YOU AND ASK YOU TO WORK WITH SOMEBODY ON A LIFE SAFETY ISSUE OFF THE TABLE. IF IT'S IN THE FIRE CODE, THEY'RE DOING IT.
PERIOD. IF IT IS A BUILDING STANDARD THAT AFFECTS HUMAN LIFE.
SORRY, WE'RE NOT FLEXIBLE ON THOSE.
WE MIGHT WORK WITH YOU A LITTLE BIT ON LANDSCAPING OR A PARKING SPACE HERE AND THERE. LIFE SAFETY ISSUES ARE OFF THE TABLE.
SO THESE ARE THE THINGS THAT ALTOGETHER INFRASTRUCTURE. OBVIOUSLY YOU CAN'T TURN ON THE WATER. YOU CAN'T BUILD ANYTHING.
SO YOU CAN'T EVEN PLANT WITHOUT WATER.
IN MY MIND AND AGAIN I'VE BEEN HERE SIX WEEKS.
SOME IDEAS ON FOCUS AREAS AND WHY.
AND THE REASON I PUT THIS SLIDE IN SO Y'ALL CAN KIND OF SEE HOW I THINK AND WHY I THINK
[01:00:02]
THAT WAY. I DON'T WANT TO JUST SAY TRADITIONAL ECONOMIC DEVELOPMENT.WELL, WHY WHY DO WE WANT MANUFACTURING OR CORPORATE HEADQUARTERS? THEY PAY THE BILLS. I'VE DEALT WITH COMPANIES WHERE WE'VE DONE A GENEROUS TAX ABATEMENT OR A TAX REBATE. WITH THEM FOR SEVEN YEARS AND EVEN DURING THE TAX ABATEMENT OR REBATE, THEY'RE ONE OF THE 3 OR 4 LARGEST TAXPAYERS IN THE ENTIRE CITY.
DURING THE INCENTIVE PERIOD, THEY PAY THE BILLS.
DOWNTOWN REVITALIZATION AGAIN REACTIVATES THE CITY'S ORIGINAL HEART AND ADDS TO QUALITY OF LIFE. PEOPLE LIKE TO GET OFF OF THE MAIN THOROUGHFARE 380 AND STUFF.
THEY LIKE FEELING LIKE THEY'RE VENTURING OUT.
LUCKILY HERE IT'S A FEW BLOCKS.
380 BYPASS THAT'S GOING TO BE GOING NORTH.
AND A LOT OF THAT LAND IS ALREADY ZONED.
BUT WHERE WE CAN, WE NEED TO WORK WITH THE DEVELOPERS TO PRESERVE THE FIRST 300 TO 1000FT FOR COMMERCIAL DEVELOPMENT, INSTEAD OF BUILDING HOUSES ALL THE WAY UP TO IT, BECAUSE THAT'S THAT IS AN ENTIRELY NEW MARKET THAT HADN'T EVEN STARTED YET, SO WE GOT TO START THINKING ABOUT IT.
RETAIL. THEY ALSO PAY THE BILLS BECAUSE OUR SECOND BIGGEST INCOME STREAM AT THE CITY AFTER PROPERTY TAXES IS SALES TAX.
RESIDENTIAL AGAIN, WITHOUT THE ROOFTOPS, THE RETAIL'S NOT COMING.
THE MANUFACTURING NEEDS EMPLOYEES.
THEY WANT THEM TO WORK LOCALLY. IT'S IMPORTANT TO THEM.
AND THEN WE'RE ALSO TRYING TO WORK WITH THE CORE, LIKE LAVON, TO DO SOME LEASING OF WATERFRONT SO WE CAN CONTROL THE ACCESS ADJACENT TO IT.
THAT'S KIND OF THE NEXT FRONTIER. NOW WE'RE PAYING ATTENTION TO IT ALREADY.
BUT YOU KNOW WHAT THE THE SYNONYM FOR LAKEFRONT IS VALUABLE.
LAKEFRONT PROPERTY IS ALWAYS EXPENSIVE.
AND IT'S ALWAYS VALUABLE BECAUSE IT'S LAKEFRONT PROPERTY.
WE DON'T WANT TO PUT MANUFACTURING ON THE LAKE.
WE WANT TO PUT COOL STUFF ON THE LAKE.
THE PEOPLE ENJOY QUALITY OF LIFE TYPE STUFF.
STOP. DOES THIS MAKE SENSE? YES. ANY QUESTIONS? ALL RIGHT.
CURRENT EDC PROGRAMS. WE HAVE A SITE IMPROVEMENT PROGRAM AND RESTAURANT GRANT.
REALLY? THE IDC'S BREAD AND BUTTER IS THAT CENTER.
ONE IS. AND WE'VE GOT A NEW APPLICATION THAT WE'LL USE FOR THAT.
BUT FOCUSING ON CHAPTER THREE, 80S ABATEMENTS FOR THE LARGER EMPLOYERS, THAT THAT SHOULD KIND OF BE THE MINDSET OF WHAT THE FOCUS AREA IS.
AS A MATTER OF FACT, I MAY ASK THE CDC TO PICK THE OTHER TWO UP AND MOVE THOSE OVER TO THE CDC BECAUSE I THINK THEY MIGHT FIT BETTER.
CDC HAS A GRANT PROGRAM THAT'S NOT REAL WELL DEFINED.
THERE'S THINGS THAT WE'RE ALLOWED TO DO WITH IT.
BUT I'M GOING TO SUGGEST TO THE CDC THAT WE REFINED THAT A LITTLE BIT, BECAUSE JUST BECAUSE YOU CAN DO IT DOESN'T MEAN YOU SHOULD DO IT.
AND TO GET THE HIGHEST AND BEST USE AND THE BEST BANG FOR YOUR BUCK.
I THINK WE SHOULD DO THIS A LITTLE BIT DIFFERENTLY, BUT THAT'S CURRENTLY WHAT WE GOT HERE.
THE STATE PROGRAMS, ALL INCENTIVES DON'T COME FROM THE CITY.
STATE HAS STUFF THAT AND WE COORDINATE IT IN SOME STATES AND A COMPANY OR A SITE SELECT OR GO TO THE STATE. AND THEN THEY'LL RUN THE PROJECT AND THEN THEY'LL ASK THE THE LOCAL ECONOMIC DEVELOPER TO RUN A SUPPORT ROLE.
AND TEXAS IS JUST THE OPPOSITE.
IN TEXAS, EVERYTHING'S THEORETICALLY FOCUSED ON LOCAL CONTROL, EXCEPT FOR 180 DAYS EVERY OTHER YEAR WHEN THEY GO TO AUSTIN, DO EVERYTHING THEY CAN TO REMOVE LOCAL CONTROL.
BUT SO FAR AT LEAST, THAT'S STILL A TALKING POINT.
BUT AND AS FAR AS ECONOMIC DEVELOPMENT GOES IN TEXAS, THE SITE SELECTORS, THE CORPORATE REAL ESTATE PEOPLE, THEY ALL COME TO THE CITY.
WE WORK A DEAL, AND IT'S NOT UNTIL THE CITY SAYS, YES, WE WANT THIS. YES, WE'RE GOING TO SUPPORT IT.
ONCE THE CITY SAYS YES, THEN WE CAN LOOK TO THE STATE AND SAY, IS THERE ONE OF YOUR PROGRAMS THAT MIGHT BE ABLE TO KIND OF BACK UP OR SUPPLEMENT WHAT WE'RE DOING, WHETHER IT'S JOB TRAINING THAT DOESN'T COST US ANYTHING.
IF WE HAVE PEOPLE THAT NEED JOB TRAINING, WE CAN COMPLY WITH THE STATE ENTERPRISE ZONE PROGRAM DOESN'T COST US ANYTHING.
WE GET SIX NOMINATIONS EVERY TWO YEARS.
WE JUST HAVE TO HAVE QUALIFYING BUSINESSES IN-STATE TUITION.
IF WE RECRUIT A REGIONAL HEADQUARTERS AND THEY'RE COMING FROM OUT OF STATE AND THEY'RE GOING TO BE MOVING ALL THEIR EXECUTIVES WITH THEM AND THEIR KIDS ARE IN SCHOOL, WE CAN TELL THAT COMPANY, OKAY, THE STATE IS GOING TO WAIVE THE TWO YEAR WAITING PERIOD. IF YOU HAVE A SENIOR IN HIGH SCHOOL, YOU GET IN-STATE TUITION TODAY AS PART OF THE INCENTIVE TO COME DO BUSINESS IN TEXAS.
THAT CAN BE A PRETTY BIG DEAL IF YOU'RE MOVING A LOT OF EXECUTIVES.
[01:05:03]
WHEN I WAS IN MCKINNEY.WE BROUGHT THE RAYTHEON GLOBAL HEADQUARTERS THERE, AND THEY WERE MOVING. AND I HAVE TO BRING THIS UP BECAUSE IT'S THE ONLY TIME I'VE EVER DEALT WITH SOMETHING LIKE THIS. BUT USUALLY YOU LOOK AT AN AVERAGE WAGE AND IT'S 40 TO 65, $70,000. THE RAYTHEON HEADQUARTERS, THE AVERAGE WAGE WAS $250,000.
AVERAGE WAGE. THEY WERE BRINGING ALL THEIR C-SUITE OF EXECUTIVES OUT OF CALIFORNIA FROM ALL OVER THE COUNTRY AND MOVING THEM TO MCKINNEY.
THE IN-STATE TUITION WAS A BIG DEAL BECAUSE THEY WERE ALL EXECUTIVES THAT A BUNCH OF THEM HAD KIDS. AND THEN THE ENTERPRISE FUND.
THAT'S WHAT THE GOVERNOR CALLS THIS DEAL CLOSING FUND.
IF PRINCETON IS FIGHTING FOR A TECHNOLOGY COMPANY, AND THEY HAVE NARROWED DOWN THEIR SIGHTS TO PRINCETON, TEXAS, AND JUST SAY DURANT, OKLAHOMA, IT'S GOT TO BE ONE CITY IN TEXAS AND ONE CITY OUT OF TEXAS.
THEN THE STATE WILL GET INVOLVED AND THE GOVERNOR WILL GO.
YOU'RE COMPETING WITH TEXAS WHAT DO WE NEED TO DO TO CLOSE THIS DEAL? COME TO TEXAS NOW. IF IT'S TWO TEXAS CITIES, GOVERNOR'S OFFICE STAYS OUT OF IT.
I WOULD ARGUE THEY NEED TO MAKE AN OFFER IN WHICHEVER ONE THEY PICK GETS IT.
BUT BECAUSE YOU ALWAYS HAVE AN OPTION, EVERY COMPANY HAS AN OPTION.
THEY COULD ALWAYS GO BACK AND SAY, NO, I DON'T LIKE THE WAY I WAS TREATED.
I'LL GO TO LOUISIANA OR I'LL GO TO OKLAHOMA.
BUT AS LONG AS THERE'S ONE CITY IN TEXAS, ONE CITY OUTSIDE OF TEXAS, THEN YOU GO TO THEM THERE.
DEPENDING ON WAGE RATE, IT AVERAGES ABOUT 10,000 PER NEW JOB CREATED, AND THEY GIVE THEM USUALLY FIVE YEARS TO DO IT.
THESE ARE THE TARGET INDUSTRIES THAT THE STATE HAS.
NOW, I LOOKED AT A LIST JUST ON THE WEBSITE OF SOME OF THE INDUSTRIES THAT WE'RE INTERESTED IN. AND. HAVING 4 TO 6.
I MEAN, IF YOU TRY TO FOCUS ON EVERYTHING, YOU'RE NOT FOCUSED ON ANYTHING. SO PICK YOUR TOP ONES. BUT ADVANCED MANUFACTURING A COUPLE EXAMPLES AEROSPACE, AVIATION, DEFENSE, BIOTECH LIFE SCIENCE, ENERGY, INFORMATION TECHNOLOGY, PETROLEUM CORPORATE SERVICES.
GIFT HERE. QUESTION. CORPORATE SERVICES.
NOT ONLY IS IT LEGAL, BUT IT'S ONE OF THEIR TARGETS IN A CREATIVE INDUSTRY, WHICH ALSO FITS WHAT YOU WERE JUST WHAT YOU ASKED THE QUESTION ABOUT.
I WOULD SAY THINK ABOUT THIS SLIDE AND WE CAN EMAIL THIS OUT AFTERWARDS BECAUSE I'M NOT GOING TO SAY WHICH ONE, BUT I THINK THERE ARE 3 OR 4 OF THESE THAT WOULD FIT US VERY, VERY WELL THAT WE SHOULD REALLY CONSIDER PUTTING ON OUR LIST.
BY THE WAY, IF YOUR TARGET MARKET ON A PROJECT MATCHES WHAT THE GOVERNOR SAYS HE WANTS, GOT A LITTLE BETTER CHANCE OF GETTING THE STATE TO WEIGH IN AND HELP WITH YOU.
HELP YOU WITH THAT A LITTLE BIT.
ANY QUESTIONS ABOUT THIS? YES, MA'AM. SO ONE OF MY CONCERNS WAS MENTIONING THAT.
HOW WILL THAT BE THE NEXT DAY? WHAT'S THAT? THAT STARTED IN THE HOUSE, BILL.
WHERE THE WHOLE RULES WILL BE TAKEN AWAY.
THEY'RE GOING TO TRY TO TAKE AWAY. HOW WOULD THAT AFFECT THE CDC? WELL, THE REAL ANSWER IS, I DON'T KNOW.
AND I DON'T KNOW IF ANYBODY KNOWS THE THE BACKUP ANSWER TO THAT IS EVERY TWO YEARS AND IT'S BECOME A RUNNING JOKE.
AND I'LL GIVE YOU AN EXAMPLE. NOW THERE'S WHAT THEY CALL A SHOT CLOCK WHEN A DEVELOPER COMES IN AND SUBMITS PLANS.
BY LAW, A CITY HAS 30 DAYS TO PROCESS THOSE AND TAKE IT THROUGH THE ENTIRE PROCESS.
WELL, NOW THERE ARE CITIES THAT CAN DO IT IN THREE DAYS.
BUT SINCE IT'S NOW A STATE LAW, THERE ALWAYS THINGS THAT CAN COME UP DURING THE PLAN REVIEW. THE COMPANY DOESN'T RESPOND TO YOUR REQUESTS.
THE COMPANY DOESN'T GIVE YOU WHAT YOU NEED.
WHAT THAT HAS DONE IS IT'S ACTUALLY SLOWED DOWN THE PROCESS BECAUSE NOW CITIES WON'T ACCEPT PLANS UNTIL THEY'VE ALREADY GONE BACK AND FORTH A FEW TIMES BECAUSE THEY DON'T WANT TO GET CAUGHT BY SOMETHING.
WELL, I DON'T BRING THAT UP ONLY TO SAY THAT WE CALL THAT THE AUSTIN LAW.
THE REASON THEY DID IT IS IT WOULD TAKE A YEAR AND A HALF TO TWO YEARS IN AUSTIN TO GET A PLAT PLOT THROUGH. AND THEY'RE LIKE, WELL, WE'RE GOING TO MAKE EVERY CITY DO IT NO LONGER THAN 30 DAYS.
[01:10:02]
LOOK, IT ENDED UP PENALIZING THE DEVELOPER IN MOST CITIES BECAUSE MOST CITIES ALREADY DID IT BETTER THAN THAT. BUT OUT OF CAUTION, THEY CHANGED THEIR CLOCK TO MAKE SURE THEY DON'T GET FINED. AND SO IT'S SIMILAR.A LOT OF THESE LAWS ARE KNEE JERK REACTIONS TO SOMETHING THEY'RE DOING WRONG IN AUSTIN, AND SO THEY'RE TRYING TO CORRECT THAT. BUT THEY'RE MAKING A STATE LAW THAT'S GOING TO HURT EVERYBODY. I DON'T THINK ANYBODY KNOWS.
AT THE END OF THE DAY, THEY'RE GOING TO SUBMIT A BILL.
IT'LL GO TO HEARINGS, IT'LL GET CHANGED PROBABLY 4 OR 5 TIMES.
SO WE DON'T EVEN KNOW WHAT THE BILL IS GOING TO LOOK LIKE YET.
THEY TRY TO PROTECT EDCS AND CDCS, I THINK TO AN EXTENT TO WHERE THEY JUST DON'T GET TOTALLY THROWN OUT WITH THE WASH.
AND THEY NEED TO BECAUSE THEY'RE MORE RURAL COMMUNITIES THAN THERE ARE METROS, OBVIOUSLY, IN TEXAS, SO I'M NOT SURE.
FOOD FOR THOUGHT. I GOT AHEAD FOR WHEN WE DO STRATEGIC PLANNING.
I JUST SHOWED THE STATES TARGET INDUSTRIES.
THINK ABOUT THOSE. LET'S TRY TO LIMIT IT TO 4 TO 6, PROBABLY. AND WITH THE CDC.
NOT NECESSARILY INDUSTRIES, BUT BUT TARGETED GOALS.
WHAT DO WE WHERE DO WE REALLY WANT TO MAKE AN IMPACT.
WHERE DO WE THINK WE HAVE AN OPPORTUNITY TO HAVE A GAME CHANGER AND KEEP IT RELATIVELY SHORT LIST? BECAUSE AGAIN, YOU LIST TOO MANY THINGS AND YOU LOSE.
YOU LOSE YOUR FOCUS AND YOUR OPPORTUNITY TO MAKE AN IMPACT IN ANY ONE AREA.
OKAY. REAL QUICK ROLES AND RESPONSIBILITIES.
THE I MENTIONED BEFORE, THE EDC AND CDC BOARDS ARE FISCAL BOARDS.
ANOTHER WORD IS YOUR LEGISLATIVE BOARDS.
YOU MAKE DECISIONS TO SHAUNA AND I AS STAFF CARRY OUT THOSE DECISIONS.
WE MANAGE THE DAY TO DAY OPERATION.
WE REPRESENT YOU ALL IN PUBLIC, WHICH FOR A COUPLE OF Y'ALL, THAT PROBABLY SCARES A LITTLE BIT. KNOWING THAT I'M REPRESENTING YOU. BUT I'LL TRY TO BE ON MY BEST BEHAVIOR. BOARD LEADS, STAFF IMPLEMENTS AND MANAGES Y'ALL WITH THE CITY MANAGER. WOULD YOU LIKE TO SHARE WITH THE ENTIRE CLASS? IF YOU SEE A TYPO, HUSH IT.
YOU LEAD, WE IMPLEMENT AND MANAGE WITH THE CITY MANAGER.
YOU GOT TOGETHER AND HIRED ME.
CONGRATULATIONS. YOU SET THE DIRECTION OF THE CORPORATION.
YOU ARE RESPONSIBLE FOR THE MONEY.
YOU APPROVE THE BUDGET? YOU MAKE DECISIONS ON PROJECTS AND PROGRAMS. I CAN'T CREATE A PROJECT OR A PROGRAM WITHOUT YOUR APPROVAL.
HEY. THE ECONOMIC DEVELOPMENT CORPORATION AND COMMUNITY DEVELOPMENT CORPORATION ARE DOING GOOD THINGS IN OUR COMMUNITY. THESE ARE THE TYPES OF THINGS WE'RE DOING. WE'RE EXCITED ABOUT IT. YOU ADVOCATE FOR THE CITY.
LITERALLY NOBODY AGREES WITH EVERYTHING THE CITY DOES.
BUT YOUR LEADERSHIP ON TWO OF THE MOST IMPORTANT BOARDS, AND I WOULD ARGUE, THE TWO MOST IMPORTANT BOARDS IN THE CITY.
SOMETIMES, EVEN IF THERE'S SOMETHING YOU DON'T AGREE WITH, WE GOTTA GRIN AND BEAR IT.
AND OVERALL ADVOCATE FOR THE CITY.
YOU DON'T HAVE TO EVEN BRING UP STUFF YOU DON'T AGREE WITH, BUT ADVOCATE FOR THE CITY AND THEN SUPPORT THE STAFF.
YOU KNOW, THIS IS A VERY VISIBLE POSITION.
THERE ARE A LOT OF ATTACKS OUT THERE.
THERE ARE A LOT OF PEOPLE THAT WE CALL THEM CAVE PEOPLE, CITIZENS AGAINST VIRTUALLY EVERYTHING.
YOU KNOW, WHEN STUFF HAPPENS, BE THERE AS A SUPPORT MECHANISM.
YOU KNOW THAT WE'RE DOING THE BEST WE CAN.
IF YOU APPROVE ADDITIONAL STAFF, I HIRE THAT STAFF, AND I MANAGE THAT STAFF.
IS THE CEO OF THE CORPORATION.
THE REPORTS TO ME. THEN REPORT TO MIKE, THEN REPORT TO THE BOARD.
SHE REPORTS TO ME. OR IN REALITY, DURING THE WORKDAY, I REPORT TO HER. BUT WE DON'T SAY THAT PUBLICLY.
WE MAKE RECOMMENDATIONS TO YOU GUYS AS PROFESSIONAL STAFF.
I CAN'T APPROVE A PROJECT, BUT I CAN BRING YOU A PROJECT AND SAY, JEFF, MIKE, KARIM, I THINK THIS IS A GREAT THING.
WE NEED TO DO IT. EXPLAIN IT TO YOU.
I'LL GIVE YOU ALL THE BACKGROUND, GIVE YOU ENOUGH INFORMATION WHERE YOU'RE COMFORTABLE MAKING A DECISION, AND THEN YOU MAKE THE ULTIMATE DECISION.
SO IF YOU GUYS APPROVE SOMETHING, WHETHER I AGREE WITH IT OR NOT IS TOTALLY
[01:15:04]
IRRELEVANT, I IMPLEMENT IT.WE SUPPORT AND EDUCATE THE BOARD.
LIKE TONIGHT AT MEETINGS, AS WE BRING PROJECTS, WE TALK YOU THROUGH GENERALLY AN EXECUTIVE SESSION, THE DETAILS OF THE PROJECT.
BECAUSE I DON'T WANT YOU ALL TO HAVE TO VOTE ON SOMETHING THAT YOU DON'T FULLY UNDERSTAND.
IT'S NOT FAIR TO YOU. I MEAN, I WANT YOU TO GET ALL YOUR QUESTIONS ANSWERED OR YOU FEEL GOOD ABOUT IT.
WE LEAVE IF WE HAVE APPROVED IT.
WE REPRESENT THE BOARD, THE CORPORATION.
EXCUSE ME. IN THE CITY, OUTWARDLY AND THE PUBLIC MANAGE THE DAY TO DAY OPERATIONS, MARKET THE COMMUNITY.
WE NEED A BIGGER MARKETING BUDGET.
ADVISE THE BOARD, ALONG WITH THE ATTORNEYS, ON THE RULES AND LAWS PERTAINING.
AND I LAUGH AT MYSELF ALL THE TIME BECAUSE I'LL.
I'LL MAKE A LEGAL OPINION AND I'M STANDING WITH OUR ATTORNEY AND I KIND OF I'M LIKE, WOW, I CAN'T BELIEVE I JUST DID THAT.
I JUST GAVE OUR ATTORNEY A LEGAL OPINION.
HE'S PROBABLY LOOKING AT ME GOING, YOU'RE GETTING A LITTLE BIG FOR YOUR BRITCHES, BUT I HAVE BEEN DOING IT FOR 25 YEARS, AND SO I IT KIND OF COMES TO SECOND NATURE.
MOST OF ALL, I DON'T KNOW EVERYTHING. AND I GO TO GRANT A LOT BEHIND THE SCENES SAYING, LOOK, THIS IS HOW I SEE IT.
THIS IS YOUR CALL. THIS IS A LEGAL QUESTION.
AND HE'LL GIVE ME THE TRUTH, AND THEN HE'LL GENERALLY SAY, HE AGREED WITH ME PROMOTE THE ORGANIZATION AND WE ADVOCATE FOR THE CITY.
AND I'VE BEEN IN A LOT OF CITIES AND I REALLY FEEL IT HERE. IT MAY BE THE CASE, I DON'T KNOW, I'M BRAND NEW, BUT I'VE WORKED IN MULTIPLE COMMUNITIES AND THESE ARE SUCH VISIBLE BOARDS, AND THEY'RE THE ONLY BOARDS THAT HAVE THEIR OWN INCOME STREAM THAT THE CITY CAN'T TOUCH. AND A LOT OF TIMES I'VE SEEN FRICTION BETWEEN THE BOARDS AND THE CITY, AND AT THE END OF THE DAY, WE JUST NEED TO REMEMBER THAT IF IT WEREN'T FOR THE CITY, WE'D HAVE NO REASON TO HAVE THESE BOARDS.
I MEAN, WE NEED TO GET ON THE SAME PAGE. WE NEED TO BE FEEL FREE TO SPEAK OUR OPINION AND SAY, HEY, WE THINK THIS WOULD BE A GREAT THING, BUT AT THE END OF THE DAY, WE'RE NOT OUT PROMOTING THE CDC OR EDC.
WE'RE OUT PROMOTING THE CITY OF PRINCETON.
SO WE NEED TO GET ON THE SAME PAGE WITH THEM.
THAT'S IT. ANY OTHER QUESTIONS? ANYTHING YOU WANT TO TALK ABOUT? AGAIN, I DIDN'T WANT THIS TO BE IT MIGHT HAVE BEEN EXHAUSTING, BUT IT WASN'T MEANT TO BE EXHAUSTIVE OF ALL THE LAWS, BECAUSE THEN WE WOULD HAVE BEEN HERE FOR HOURS.
BUT I WANTED TO LAY THE GROUNDWORK TO WHERE WHEN WE GO INTO STRATEGIC PLANNING, WHEN WE HAVE A MEETING, WE START LOOKING AT PROJECTS.
HOPEFULLY SOME OF THIS WILL CLICK IN AND YOU'RE LIKE, OH, THAT'S WHY HE'S BRINGING THIS TO US. OR THAT'S WHY HE THINKS THIS IS A GOOD IDEA.
OR AS I'VE SAID IN SEVERAL MEETINGS, AND I DON'T LOVE HAVING TO SAY THIS, YOU'LL HEAR ME SAY, WE CAN'T DO THAT.
WELL, SOMETHING TO LOOK BACK ON AND SAY, WELL, HE IT'S NOT JUST THAT HE DOESN'T LIKE THE PROJECT. HE HONESTLY KNOWS THAT THAT'S EITHER REALLY ON THE LINE LEGALLY OR IT'S OVER THE LINE LEGALLY.
THAT'S THE ONLY TIME THAT I'LL SPEAK UP AND SAY, WE CAN'T DO THIS BECAUSE Y'ALL DON'T WORK FOR ME.
I DON'T TELL YOU WHAT DECISION TO MAKE.
BUT BEING A PROFESSIONAL, HAVING DONE THIS FOR 25 YEARS, I FEEL LIKE IT IS MY JOB THAT IF WE'RE GETTING CLOSE TO A LEGAL ONE, I SAID, HEY GUYS, WE NEED TO BE CAREFUL OVER HERE BECAUSE THIS IS NOT WHAT THE LAW INTENDS. YOU'RE NOT EXPECTED TO KNOW THE LAW. YOU'RE VOLUNTEERS, YOU'RE GOING TO BE ON THE BOARD FOR TWO TO 5 OR 6 YEARS, WHATEVER. YOU KNOW, STAFF DOES THIS FOR A LIVING.
WE DO IT EVERY DAY. AND ALTHOUGH I'M GETTING TOWARDS THE END OF MY CAREER, WE'LL WILL DO IT FOR A NUMBER OF YEARS IN THE FUTURE. SO THAT'S THE ONLY TIME I'LL THROW THE FLAG UP. OR I'LL GRANT WILL, OR I'LL ASK HIM TO SO I DON'T HAVE TO BE THE BAD GUY. ANY OTHER QUESTIONS? I'LL REMIND YOU, WE DO HAVE A LOT OF HOT COFFEE BACK THERE, AND I'M NOT DRINKING AT ALL. OH. YES, SIR. CAN YOU GRAB THIS? NOT FOR ME, BUT FOR THE ONE.
QUICK QUESTION, PLEASE, SIR. WELL, ECONOMIC DEVELOPER, WHEN YOU FIRST STARTED, YOU TALK ABOUT ECONOMIC DEVELOPMENT AS A HOLISTIC APPROACH TO, YOU KNOW, EXPANDING THE COMMUNITY. THE QUESTION IS THIS HOW DO YOU VIEW ECONOMIC DEVELOPMENT AS A DO YOU LOOK AT THE TRICKLE DOWN THEORY? YEAH, IT'S YOU'VE GOT TO GET REAL CLOSE TO IT.
HOW IS IT? IS THAT BETTER, SIR? YES. OKAY. ALL RIGHT. DO YOU VIEW ECONOMIC DEVELOPMENT AS A TRICKLE DOWN THEORY OR A BOTTOM UP APPROACH? A COMBINATION OF THE.
BOTH I. I SEE IT AS A COMBINATION OF BOTH.
AND I GET ASKED PARTICULARLY WHERE IT GOES TO THE CDC.
WHAT CAN WE DO FOR THE IMPOVERISHED? WHAT CAN WE DO FOR THIS PARTICULAR CHARITY TO HELP IMPROVE THEIR QUALITY OF LIFE? THE OUR APPROACH TO TO HELPING THE CITIZENS.
[01:20:05]
IS TO CREATE A MARKET OUT THERE WITH HIGHER PAYING JOBS SO THEY HAVE ACCESS TO THOSE HIGHER PAYING JOBS AND THAT THEY CAN LIFT THEMSELVES UP THROUGH IT.IT'S A LEG UP. THAT'S THAT'S KIND OF THE WAY THIS LAW WAS APPROACHED, I GUESS. I THINK THAT HOWEVER SO A RISING TIDE LIFTS ALL BOATS.
IF WE BRING IN SOMEBODY, EVEN IF IT'S RETAIL AND THE CURRENT RETAIL MARKET IS TEN BUCKS AN HOUR AND WE BRING IN BUCKY'S.
BUCKY'S MINIMUM WAGE IS $16 AN HOUR.
AS YOU ADD JOBS AND COMPETITION IN ANY MARKET, YOU FORCE THE WAGES UP.
I DON'T GO TO A COMPANY AND SAY, I NEED YOU TO RAISE YOUR MINIMUM WAGE TO 20 BUCKS. I CREATE COMPETITION FOR THAT COMPANY FOR EMPLOYEES TO FORCE THEM TO RAISE THEIR OWN RATES. DOES THAT MAKE SENSE? I, I LET THE MARKET DO IT.
AS FAR AS A TRICKLE DOWN TO SUPPORT IT.
YEAH. I WANT SOME OF THE BIG TAXPAYERS AND I WANT SOME OF THE REALLY HIGH PAYING JOBS, BECAUSE THE HIGHER PAID YOUR JOB IS, THE HIGHER PERCENTAGE OF YOUR INCOME IS DISPOSABLE. AND THE HIGHER PERCENTAGE IS DISPOSABLE.
I WANT THAT SPENT HERE LOCALLY BECAUSE WE LIVE ON SALES TAX.
I MEAN, 100% OF OUR REVENUE IS SALES TAX.
ONE OF THE COOL THINGS ABOUT THAT IS THAT PEOPLE THAT DON'T LIVE IN PRINCETON RUN.
RUN THESE CORPORATIONS BECAUSE YOU HAD PEOPLE THAT DON'T LIVE HERE, THAT SHOP AT OUR WALMART, THAT DO OTHER THINGS IN PRINCETON AS THEY GO THROUGH. AND SO THE PEOPLE THAT DON'T EVEN LIVE HERE END UP FUNDING OUR ORGANIZATIONS, WHICH I'VE ALWAYS KIND OF GOTTEN A SICK PLEASURE OUT OF KNOWING THAT PEOPLE THAT I COMPETE WITH ARE ACTUALLY FUNDING ME.
ALWAYS HAVE. DOES THAT ANSWER YOUR QUESTION? I MEAN, OUR ROLE IS CREATING THE ECONOMIC ATMOSPHERE SO PEOPLE CAN MAKE MORE MONEY, HAVE BETTER BENEFITS, AND BETTER TAKE CARE OF THEIR FAMILY.
AND IN DOING THAT, WE'RE CREATING MORE DISPOSABLE INCOME.
AND THEN WE'LL ALSO BRING IN SOME OF YOUR LARGER TAXPAYERS.
COMMERCIAL PAYS A LOT MORE TAXES THAN RESIDENTIAL.
YEAH, THE RESIDENTIAL IS IMPORTANT BECAUSE IT DRAWS COMMERCIAL.
BUT, YOU KNOW, A HOTEL MAY BE TAXED AT 25 MILLION A YEAR, WHEREAS THE SINGLE FAMILY HOME IS 300,000.
I FEEL GUILTY SOMETIMES WHEN I GO TO MCKINNEY AND SPEND MONEY WHEN I SHOULD BE SPENDING IT HERE. BUT I MEAN, RIGHT NOW, YOU DON'T HAVE A CHOICE.
YEAH, I KNOW OUR JOB IS TO CHANGE THAT.
AND WE'RE IN THE PROCESS OF DOING AND AND Y'ALL KNOW THIS.
FULL DISCLOSURE. I USED TO WORK FOR MCKINNEY. I USED TO RUN THE ECONOMIC DEVELOPMENT CORPORATION IN MCKINNEY. I WAS THE CEO OVER THERE FOR A LITTLE WHILE. IT'S A GREAT CITY.
IT HAS IT HAS SOME ISSUES, BUT IT'S OVERALL, I THINK, A GREAT CITY.
BUT IT'S OUR JOB TO CREATE THOSE OPPORTUNITIES TO WHERE IF YOU HAVE A FAVORITE RESTAURANT THAT HAPPENS TO BE IN MCKINNEY, YOU'RE STILL GOING TO GO EAT IN MCKINNEY. BUT TO CREATE SOME COMPETITION LOCALLY TO WHERE UNLESS YOU REALLY WANT THAT RESTAURANT, YOU DON'T HAVE TO GO TO MCKINNEY.
YOU CAN FIND SOMETHING HERE THAT YOU'RE GOING TO ENJOY. THAT'S MORE CDC.
EDC HAS TO BE CAREFUL DOING A LOT OF RETAIL AND RESTAURANTS, BUT THAT'S PART OF OUR JOB.
AND I APPRECIATE YOU FEELING GUILTY. AND I USED TO FEEL GUILTY. AND THEN I KIND OF REALIZED, YOU KNOW WHAT? SOMETIMES YOU DON'T HAVE A CHOICE. I MEAN, IT IS WHAT IT IS. YOU GOT TO GIVE ME A CHOICE.
I HAD A CHOICE, AND IT WAS FUNNY.
I HAD TO GET LUCKY TO MOVE HERE.
WE'RE GROWING SO FAST THAT THE NEW HOUSES THAT ARE BEING BUILT WILL NOT TAKE A CONTINGENCY OFFER ON A HOUSE BECAUSE THEY'RE SELLING SO FAST.
WHY WOULD THEY LOCK IN TO A CONTINGENCY AND LET A HOUSE SIT ON THE MARKET FOR MONTHS? SO I LITERALLY COULDN'T EVEN PUT AN OFFER ON A HOUSE UNTIL WE HAD OURS UNDER CONTRACT.
AND IT WAS THROUGH THE DUE DILIGENCE PERIOD. SO I HAD ABOUT TWO WEEKS.
I EITHER FOUND SOMETHING OR I DIDN'T, AND I WAS GOING TO HAVE TO LIVE SOMEWHERE ELSE. AND WE WERE ACTUALLY ON OUR WAY TO GREENVILLE.
WE WERE GOING TO GO LOOK AT A HOUSE THERE, BECAUSE WE LOOKED AT SEVERAL HERE, AND WE WEREN'T GOING TO BE ABLE TO PUT AN OFFER ON THEM BECAUSE THEY SAID, LITERALLY, WE HAVE SOMEBODY ELSE WAIT AND SAID, OKAY, WE'RE NOT READY. AND THERE WAS ONE THAT WE SAW ONLINE AND DIDN'T EVEN HAVE PICTURES, BUT IT HAD A FLOOR PLAN THAT I REALLY LIKED.
I TOLD MY WIFE, SAID, IT'S UNDER CONSTRUCTION, THERE ARE NO PICTURES.
LET'S JUST SEE IF WE CAN GO WALK THROUGH IT AND WE WALK THROUGH IT.
AND MY WIFE LOOKED AT THE FLOOR PLAN. WHAT? THIS IS IT.
WE'RE MOVING TO PRINCETON. THANK GOD WE FOUND ONE.
AND WE LITERALLY LEFT THE HOUSE BECAUSE THERE WERE TWO OTHER FAMILIES THAT WALKED IN BEHIND
[01:25:01]
US, AND IT WAS STILL A CONSTRUCTION ZONE.THEY WEREN'T EVEN DOING AN OPEN HOUSE.
THAT'S HOW MANY. THAT'S HOW FAST HOUSES ARE SELLING.
WE IMMEDIATELY GOT IN OUR CAR, DROVE DOWN TO THE OFFICE, AND MY WIFE SAID, HOW BIG OF A CHECK DO YOU NEED? BECAUSE THAT'S OUR HOUSE.
AND SHE SAID, WELL, WE CAN'T TAKE A PERSONAL CHECK.
IT HAS TO BE A CASHIER'S CHECK.
IT WAS A SATURDAY. THE BANKS WERE CLOSED, SHE SAID.
BUT I TELL YOU WHAT, IF YOU WRITE ME A CHECK FOR I THINK IT WAS $5,000.
IF YOU WRITE ME A CHECK FOR $5,000, I'LL HOLD IT TILL MONDAY.
AND I WON'T CASH IT BECAUSE I CAN'T.
BUT IF YOU CAN GET ME A CASHIER'S CHECK ON MONDAY, IT'S YOURS. AND THAT'S WHAT WE DID.
SO WE ACTUALLY GOT LUCKY TO MOVE HERE.
I MEAN, THERE WERE NO HOUSES AVAILABLE.
THAT'S A GOOD PROBLEM TO HAVE FOR THE COMMUNITY.
WASN'T A GREAT PROBLEM FOR US, BUT IT WAS A GREAT PROBLEM FOR THE COMMUNITY BECAUSE THEY'RE NOT BUILDING THESE THOUSANDS OF HOMES AND THEY'RE SITTING ON THE MARKET FOR SIX WEEKS. THEY'RE SELLING BEFORE THEY'RE FINISHED.
I MEAN, WHEN WE BOUGHT OUR HOUSE, IT WAS STILL EXPOSED CONCRETE FLOORS.
NO NO. WELL, NO WINDOW TREATMENTS, NO CARPET, NO MIRRORS, NO FORT, NO PLUMBING.
I MEAN, THEY HAD PLUMBING, BUT NO FIXTURES.
AND I'M LIKE, IF YOU DON'T DO THAT, YOU LOSE THE HOUSE.
ANY OTHER QUESTIONS? I DIGRESSED.
YEAH, I WOULD I WOULD SAY THANK YOU FOR EVERYTHING YOU BROUGHT TO US.
IT WAS VERY INSIGHTFUL AND I THOUGHT A GOOD OVERVIEW OF THE INFORMATION OUT THERE.
ONE QUESTION I WAS GOING TO ASK YOU, BASED ON YOUR PAST EXPERIENCE OF THE EDC, YOU KNOW, SOME OF THE THINGS WE HAVE TO KIND OF KEEP, YOU KNOW, HIDDEN OR PRIVATE TO SOME DEGREE, BECAUSE THE COMPANIES.
WHAT WHAT HAVE YOU SEEN DONE IN THE PAST TO CREATE SOME TRANSPARENCY JUST FOR THE COMMUNITY IN THOSE SITUATIONS? SO WE ALWAYS GIVE PROJECTS CODE NAMES SO WE NEVER USE A COMPANY'S NAME.
THERE ARE THERE ARE SOME THINGS THAT WE CAN LET OUT THAT ARE VERY GENERAL IN NATURE.
WORKING ON A TRADITIONAL ECONOMIC DEVELOPMENT PROJECTS.
AND I, I TRY TO BE AS TRANSPARENT AS I POSSIBLY CAN WHERE I CAN, AND I MAKE NO APOLOGIES WHEN I CAN'T BE BECAUSE AND I KNOW YOU DON'T WANT ANOTHER STORY FROM MY PAST. BUT I WENT INTO A COMMUNITY, AND THE PREVIOUS ECONOMIC DEVELOPER BEFORE ME HAD A BIG PROJECT.
ENCORE. WHO DOES A LOT OF ECONOMIC DEVELOPMENT? SCOUTING ALL OVER THE STATE.
THEY THEY WERE MEETING A CLIENT AT THE AIRPORT IN DALLAS.
THEY WERE DRIVING THEM ALL THE WAY TO EAST TEXAS TO LOOK AT ONE SITE.
WHEN THEY GOT TO THE SITE, THERE WAS A TV VAN PARKED RIGHT DOWN THE STREET. AND THE COMPANY, AFTER A NUMBER OF EXPLETIVES BECAUSE THEY SPENT OVER $1,000 FLYING IN FOR ONE DAY TO LOOK AT ONE SITE AND BURNED A WHOLE DAY WITH THIS EXECUTIVE, LOOKED AT ONCOR AND HE SAID, KEEP DRIVING.
I AM NEVER COMING BACK TO THIS COMMUNITY AGAIN.
AND THEN THE ONCOR GUY CALLED THE COMMUNITY AND SAID, THAT'S REAL CUTE. JUST SO YOU UNDERSTAND.
DON'T GO TO OUR TRADE SHOWS ANYMORE.
I AM NEVER SHOWING A PROSPECT YOUR COMMUNITY AGAIN.
BECAUSE IT DAMAGES YOU LONG TERM.
WELL, I GOT THERE, AND WHEN I TOLD THIS GUY WITH ONCOR, HE'S ACTUALLY A FRIEND OF MINE, I DIDN'T KNOW THIS HAD HAPPENED. AND I TOLD HIM I'D GONE TO THIS COMMUNITY AND HE STARTED LAUGHING.
HE SAID, I GOT A STORY FOR YOU.
AND THEN HE CALLED THE OTHER GUY OVER THAT HE WORKED WITH THAT ACTUALLY DID THE THE SITE VISIT THAT DAY, AND HE SAID, HEY, I WANTED TO ASK YOU TO JIM.
HE JUST TOOK A JOB. AND SO SOON THE GUY STARTED LAUGHING AND HE SAID, I'M DOING THAT TO TELL YOU THAT IT'S NOW SAFE TO GO BACK TO THAT COMMUNITY, BECAUSE I KNOW HE WILL NEVER DO THAT AGAIN.
HE WILL. HE WILL NEVER DO THAT.
I'VE NEVER DONE IT. AND THE GUY KIND OF LAUGHED BECAUSE, YEAH, IT STILL KIND OF GIVES ME THE HEEBIE JEEBIES BECAUSE THAT WAS A REALLY UNCOMFORTABLE DAY. AND THEY ENDED UP THEY DID BRING US A PROJECT, BUT IT'S PROTECT THE COMPANY.
IT'S NOT BECAUSE WE LIKE KNOWING SOMETHING THAT NOBODY GETS TO KNOW.
AND IT'S NOT THAT WE ENJOY THE CLOAK AND DAGGER STUFF, BECAUSE QUITE HONESTLY, I HATE IT.
I HATE HAVING TO KEEP STUFF CONFIDENTIAL BECAUSE IT'S HARD.
AND THERE ARE THINGS THAT PARTICULARLY IF IT'S A REAL EXCITING PROJECT, THERE ARE THINGS THAT I WANT TO SHARE. BUT I CAN'T BECAUSE NOT ONLY WILL IT KILL THAT PROJECT, IT'LL KILL PROJECTS FOR YEARS.
AND ONCE YOU BURN A SITE OR A CORPORATE REAL ESTATE PERSON, THEY'RE BURNED. AND SO BUT WE CAN TALK ABOUT WE HAVE A PROJECT.
SOMETIMES WE'LL BE ABLE TO SAY THEY'VE GOT X NUMBER OF GOOD PAYING JOBS.
WE GENERALLY DON'T GET AS SPECIFIC AS TO WHAT SECTOR THEY'RE IN BECAUSE PEOPLE WILL START
[01:30:01]
FIGURING IT OUT. I MIGHT IF I KNOW THAT IT'S REALLY HARD TO FIGURE OUT, SAY THEY'RE A FORTUNE 500 COMPANY OR SOMETHING.SO I'LL GIVE SOME INFORMATION.
BUT THE OTHER STUFF. I'M SORRY WE DID.
WE JUST CAN'T DO IT. AND BY THE WAY AND THIS NEVER HAPPENS OR I'VE NEVER KNOWN IT TO HAPPEN. BUT IF YOU GO INTO EXECUTIVE SESSION AND YOU GET INFORMATION AND YOU GO OUT OF EXECUTIVE SESSION AND YOU SHARE THAT INFORMATION PUBLICLY, IT IS TECHNICALLY A JAIL OFFENSE.
YOU CAN BE ARRESTED. NOW, I'VE NOT SEEN THAT HAPPEN.
YOU CAN ALSO GET FINED, BUT THAT IS AGAINST THE LAW.
WHEN YOU GO INTO EXECUTIVE SESSION, WHAT'S SAID IN THERE BY LAW HAS TO STAY IN THERE. IT'S NOT BECAUSE I ASK YOU, IS THAT ACCURATE? SO THANKS FOR ASKING THAT QUESTION BECAUSE I WANT TO JUMP ON THIS AND TALK ABOUT IT.
LET ME SHARE ABOUT THE OTHER SIDE OF THAT COIN.
BECAUSE IT IS, YOU KNOW, WARRANTED OR NOT, IT'S A HOT TOPIC AND OPPORTUNITY RIGHT NOW. IT ALWAYS IS.
IT ALWAYS IS. SO YOU NEED EXPOUND ON THE COMPANY'S PERSPECTIVE OF WHY THAT YOU KNOW THAT PRIVACY ON THE UPFRONT IT'S SO IMPORTANT BECAUSE I THINK THE GENERAL PUBLIC.
DOESN'T NECESSARILY MEAN THEY THINK THE CITY BE RIGHT.
NO, I GET IT. I'LL GIVE YOU THE TWO MOST OBVIOUS ONES.
YEAH. YEAH, THERE ARE A LOT OF REASONS, BUT PROBABLY THE BIGGEST TWO IS OFTENTIMES WHEN A COMPANY IS LOOKING TO COME TO OUR COMMUNITY, THEY MAY BE SHUTTING 1 OR 2 OTHER LOCATIONS AND THEIR EMPLOYEES DON'T KNOW IT.
THEY DON'T WANT THAT WORD TO GET OUT BECAUSE THEY DON'T WANT THEIR ENTIRE WORKFORCE TO WALK OUT ONE DAY AND FIND OTHER JOBS A YEAR AND A HALF BEFORE THEY'RE READY TO MOVE HERE.
SO THAT'S PART OF IT. ANOTHER PART OF IT IS A COMPANY DOESN'T WANT THEIR COMPETITORS TO KNOW THAT THEY'RE NOT ONLY LOOKING IN A CITY, THEY DON'T WANT THEM KNOWING THEY'RE LOOKING IN A REGION. BECAUSE GENERALLY PARTICULARLY MANUFACTURING IS A REGIONAL.
AND IF US DEAL SEES. NIPPON POND STEEL IS LOOKING IN OKLAHOMA CITY.
THAT IS A. ALTHOUGH NOW THE CHINESE OWNED BIG PARTS OF BOTH.
BUT YOU DON'T WANT YOUR COMPETITOR KNOWING WHERE YOU'RE GOING. IT IS A COMPETITIVE DISADVANTAGE. AND YOUR COMPETITOR, SOME OF THEM WILL GO TO THE EXTENT OF CREATING A FAKE SEARCH AND GO IN JUST TO SCUTTLE THE OTHER DEAL TO KILL IT.
AND SO, I MEAN, THERE COULD BE MILLIONS AND MILLIONS OF DOLLARS LOST BY A COMPANY IF WORD GETS OUT TOO EARLY THAT THEY'RE LOOKING AT A SPECIFIC LOCATION.
IT'S NOT THAT THEY WANT TO BE CLOAK AND DAGGER, EITHER. I HAD ONE COMPANY FAIRLY RECENTLY THAT NOBODY FROM OUR SHOP PUT IT OUT THERE, BUT I WON'T EVEN POINT THE FINGER.
I'LL JUST SAY IT GOT OUT THERE THAT THAT THEY WERE LOOKING AT OUR MARKET, AND WE WERE VERY FAR ALONG IN THE NEGOTIATIONS, AND THAT COMPANY WAS GOING TO BE CLOSING TWO FACILITIES, ONE OF THE BIG ONES IN CALIFORNIA.
AND I GOT A REALLY UNCOMFORTABLE PHONE CALL THE NEXT MORNING AFTER THAT, I DIDN'T EVEN KNOW IT WAS OUT.
HE SAID, I JUST HEARD FROM SO-AND-SO, AND I'M LIKE, OH MY GOD, I HAVE NO IDEA HOW THAT HAPPENED.
AND HE SAID, WELL, YOU NEED TO FIGURE IT OUT BECAUSE I'VE GOT TO FIGURE OUT SOMETHING TO SAY TO 600 EMPLOYEES. AND IF WE MOVE FORWARD WITH THIS DEAL, WE'RE NOT CLOSING THAT PLANT FOR TWO YEARS. AND HE SAID, WE'RE NOT GOING TO BE ABLE TO FUNCTION. I'M LIKE, OH MY GOD.
SO IT CAN BE EXTREMELY DAMAGING.
AGAIN, NOT THAT WE WANT TO HIDE IT.
IT'S SOMETIMES YOU JUST HAVE TO.
I MEAN AS A BUSINESS PRACTICE.
THANK YOU ALL FOR LISTENING. THANK YOU.
IF YOU HAVE FURTHER QUESTIONS OR WHATEVER. I'M.
I'D LIKE TO SAY I'M ALWAYS AVAILABLE. I MEAN, I'M NOT ALWAYS AVAILABLE BECAUSE I DO HAVE A CALENDAR, BUT I'M ALWAYS YOU CAN ALWAYS DROP ME AN EMAIL AND SET A TIME TO COME SEE ME.
IF I'M AVAILABLE, I'LL ANSWER MY CITY PHONE.
IF NOT, AND YOU NEED TO TALK TO ME, PLEASE LEAVE A MESSAGE.
I WILL GET BACK TO YOU AS QUICK AS I CAN, BUT YOU CAN ALWAYS ASK QUESTIONS.
THAT'S WHAT THE TWO OF US ARE HERE FOR AS WELL AS GRANT.
ALTHOUGH IF YOU HAVE A LEGAL QUESTION, I WOULD APPRECIATE IF YOU REACH OUT TO ME FIRST. SO GRANT DOESN'T HAVE TEN BOARD MEMBERS ASKING HIM THE SAME QUESTION, BECAUSE IF TEN PEOPLE ASK HIM THE SAME QUESTIONS, HE BUILDS ME TEN TIMES AND I REALLY PREFER.
WHEN I WAS IN MCKINNEY, I HAD TWO BOARD MEMBERS THAT RAN UP AN $87,000 LEGAL BILL IN ONE MONTH, AND I DIDN'T EVEN KNOW ABOUT IT.
[01:35:06]
AND IN MCKINNEY, I HAD A $12.5 MILLION A YEAR BUDGET.I WAS NOT HAPPY, BUT IT DIDN'T KILL ME HERE.
AWESOME. ALL RIGHT. WE SHOULD.
I'M GOING TO LEAVE IT AT EVERYBODY'S PLACE.
YEAH. ALL RIGHT. NO MORE QUESTIONS.
WE'LL MOVE TO ADJOURNMENT. PDC, I NEED A MOTION TO ADJOURN A SECOND.
I'LL ENTERTAIN A MOTION TO ADJOURN.
I'LL MAKE A MOTION TO ADJOURN.
ALL IN FAVOR, STAND UP AND LEAVE.
HEY, I APPRECIATE Y'ALL'S ATTENTION. I HOPE YOU DIDN'T FEEL LIKE IT WAS A WASTE OF TIME, BUT I DO APPRECIATE IT.
PARTICULARLY WITH IT BEING FOUR DEGREES OUTSIDE.
YEAH. HOW MANY?
* This transcript was compiled from uncorrected Closed Captioning.