WHY IS IT RED? OKAY, WE'LL CALL TO ORDER.
[A. CALL TO ORDER]
[00:00:02]
IT'S 6604. IT'S MONDAY, MAY 5TH, 2025.REGULAR MEETING OF THE ECONOMIC DEVELOPMENT CORPORATION FROM PRINCETON. AND I'LL DO THE ROLL CALL NOW. MIKE THOMPSON, PRESENT JAMES MILLER, MARCUS BINGHAM, PRESENT.
HAROLD NOT PRESENT. MICHAEL CRAWFORD ABSENT AS WELL.
AND WE'LL MOVE TO THE INVOCATION.
AND HEAVENLY FATHER, WE COME BEFORE YOU TODAY WITH GRATEFUL HEARTS FOR THE OPPORTUNITY TO SERVE OUR COMMUNITY. WE ASK FOR YOUR GUIDANCE AND WISDOM AS WE MAKE DECISIONS THAT IMPACT THE GROWTH AND WELL-BEING OF PRINCETON.
HELP US TO WORK TOGETHER WITH INTEGRITY, VISION, AND PURPOSE. BLESS OUR CITY, OUR BUSINESSES, AND ALL THOSE WHO CALL PRINCETON HOME.
AND WE'LL MOVE TO A PUBLIC APPEARANCE.
MEMBERS OF THE PUBLIC ARE ALLOWED THREE MINUTES TO SPEAK. ECONOMIC DEVELOPMENT CORPORATION IS UNABLE TO RESPOND OR TO 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 PUBLIC INQUIRY, OR TO RECITE EXISTING POLICY IN RESPONSE TO ANY INQUIRY.
CORRECT. ALL RIGHT. AND WE'LL MOVE TO THE PUBLIC REPORT ITEMS.
[F. PUBLIC REPORT ITEMS]
THAT'S WHAT YOU MEAN TO DO.OKAY, I'LL GO AHEAD. NEXT REGULAR MEETING FOR THE EDC IS MONDAY, JUNE 2ND AT AT 6 P.M..
CDC SPECIAL MEETING WEDNESDAY, MAY 21ST AT 6 P.M..
CITY COUNCIL MEETINGS MONDAY, MAY 12TH AND MONDAY, MAY 27TH AT 6:30 P.M..
FISHING FRENZY SATURDAY, MAY 10TH FROM 8 A.M.
TO 12 P.M.. PUBLIC WORKS OPEN HOUSES SATURDAY, MAY 17TH FROM 10 A.M. TO 1 P.M.
AND WE'LL MOVE TO STAFF REPORT ITEMS COVERING THE FINANCIAL REPORT.
[G. STAFF REPORT ITEMS]
BEFORE I GET TO THE FINANCIAL REPORT, MR. CHAIRMAN, THERE'S ONE OTHER THING. WE ARE HAVING A STRATEGIC PLANNING CHARRETTE FRIDAY THE NINTH WITH THE CITY COUNCIL.I KNOW, MR. CHAIRMAN. YOU PLAN ON BEING THERE? PARTICULARLY IMPORTANT BETWEEN 9 AND 10.
THEY'VE GOT A SPECIAL SECTION FOR COMMUNITY STAKEHOLDERS SO THEY CAN HAVE A CONVERSATION AND GET INPUT FROM YOU ON THE DIRECTION OF THE COMMUNITY.
DIRECTION OF THE BOARD THAT YOU'RE SERVING AND THAT TYPE OF THING.
SO THAT IS FRIDAY. THOSE OF US STAFF AND COUNCIL WILL BE IN IT ALL DAY LONG.
THE MOST IMPORTANT PART THERE WILL BE BREAKFAST FIRST THING IN THE MORNING, I THINK, STARTING AT 730.
THE MOST IMPORTANT PART, AGAIN, IS FROM 9 TO 10.
AND THEN THE WHOLE DAY IS AN OPEN MEETING.
YOU'RE MORE THAN WELCOME TO STAY AS LONG AS YOU'RE ABLE. LEAVE WHEN YOU NEED TO.
ONE OTHER THING THAT I WILL GET INTO UNDER STAFF REPORT THAT I HAVE NEGLECTED, I THINK I NEGLECTED TO LAST MEETING.
WE ARE IN THE PROCESS OF HAVING A COMPREHENSIVE PLAN UPDATE FOR THE CITY.
THAT'S OUR FUTURE LAND USE PLAN.
IT'S A VERY, VERY IMPORTANT DOCUMENT.
YOU CAN JUST THROW IN THE TRASH BECAUSE IT WAS FOR A CITY OF ABOUT 7000 PEOPLE.
AND IT'S JUST IT'S APPLES AND ORANGES NOW.
SO WE'RE GOING TO BE GOING THROUGH THAT PROCESS. AND I IF YOU'RE IT'S GOING TO TAKE MAYBE 2 OR 3 MEETINGS, MAYBE A MEETING A MONTH.
I HIGHLY ENCOURAGE ALL OF THE BOARD TO SIGN UP TO PARTICIPATE IN THAT ON A COMMITTEE.
THAT'S CALLED A STAKEHOLDER GROUP.
IT'S GOING TO BE A FAIRLY LARGE GROUP, UP TO ABOUT 75 LOCALS.
BUT I THINK THE CDC AND EDC AND P AND Z ALL HAVE AN INSIGHT THAT MOST CITIZENS DON'T HAVE THE OPPORTUNITY TO HAVE.
AND SO I THINK YOUR FEEDBACK WOULD BE PHENOMENAL.
IF YOU WOULD BE INTERESTED OR WILLING TO SERVE ON THAT, YOU CAN. IT'S AS SIMPLE AS YOU CAN DROP OR IN AN EMAIL, WE'LL SIGN YOU UP FOR YOU, AND THEN WE'LL LET YOU KNOW WHEN THE MEETINGS ARE. BUT AND I MEANT TO DO THAT LAST MEETING.
I APOLOGIZE, BUT EVIDENTLY I DID, AND I GOT DONE WAS READING.
I WAS WATCHING THE VIDEO. I'M LIKE, YEP. DIDN'T EVEN HIT ON THAT.
[00:05:01]
ONTO THE FINANCIALS. WE ARE IN VERY GOOD FINANCIAL POSITION.WE'VE GOT NEARLY 70% OF OUR BUDGET REMAINING WITH ONLY 30% OF THE YEAR REMAINING.
THAT'S GENERALLY A GOOD TREND.
WE DO HAVE SOME LARGE EXPENDITURES THAT WE'VE ALREADY SPENT.
THIS PERIOD'S ACTIVITY REALLY THE ONLY SUBSTANTIVE EXPENSES WERE BASICALLY PAYROLL, AND THAT IS THE.
YEAH. OKAY. SORRY. I WENT OUT OF ORDER FOR YOU TO SEANA.
BUT AGAIN PAYROLLS THE MAIN DEAL.
WE HAD TO PAY A LITTLE BIT TOWARDS OUR AUDIT EXPENSE THAT WE SHARE WITH THE CITY.
BUT OTHER THAN THAT IT'S, YOU KNOW, IT'S VERY VANILLA.
WE SPENT VERY, VERY LITTLE MONEY THIS PAST MONTH LOOKING AT THE BALANCE SHEET.
I HAVE A VERY HEALTHY BALANCE OF ABOUT $9.3 MILLION.
AND AGAIN YOU'LL HEAR ME SAY THIS OFTEN, BUT I FEEL LIKE I'M NOT DOING MY JOB IF I DON'T SAY IT. IF YOU SEE A HEALTHY FUND BALANCE, THAT'S NOT A BAD THING.
IF WE'RE GOING TO PARTICIPATE IN A MAJOR INFRASTRUCTURE PROJECT, THEY'RE ALL IN THE MILLIONS.
IF WE'RE GOING TO HAVE A MAJOR RECRUITMENT DEAL THAT THAT CAN BE VERY, VERY COSTLY BECAUSE WE MAY HAVE TO HELP THEM WITH INFRASTRUCTURE OR EVEN A CASH INCENTIVE IN SOME CASES. SO HAVING A HEALTHY FUND BALANCE, ALTHOUGH, YOU KNOW, WE'RE GOING TO FIND VERY POSITIVE WAYS TO INVEST THAT MONEY.
I DON'T EVEN LIKE TO SAY SPEND THAT MONEY. EVERYTHING WE HAVE, WE INVEST OTHER THAN THERE'S THERE COULD BE SOME ARGUMENT WHETHER THE SALARIES AND WAGES FOR ME AND DIANA AS AN INVESTMENT. I'LL LET YOU ALL DECIDE ON THAT.
BUT AS FAR AS THE PROJECTS GO, THEY'RE ALL INVESTMENTS.
AND SO WE'RE IN A VERY GOOD POSITION TO DO SO.
NOT GREAT NEWS, BUT NOT HORRIBLE NEWS.
WE WERE DOWN 1%. WE WERE DOWN ONLY $1,000 FROM LAST YEAR.
NOT A HORRIBLE TREND. NOT A BIG DEAL.
THE MAIN TAKEAWAY IS OUR 10% AHEAD OF LAST YEAR.
WHICH MEANS WE ARE ALSO AHEAD OF BUDGET, WHICH WHICH IS A VERY POSITIVE THING.
AND AS YOU LOOK AT THAT ON YOUR SCREENS, IF YOU DO HAVE ANY QUESTIONS I SEE NOTHING TO REALLY BE CONCERNED ABOUT.
CLEARLY, THERE'S WE'RE IN A PERIOD OF SOME UNCERTAINTY IN THE OVERALL ECONOMY.
WE'RE IN A PERIOD OF A LITTLE BIT OF FLUX DEPENDING ON WHERE YOU STAND.
YOU THINK THAT THAT WILL TURN AROUND AND COME BACK VERY STRONG OR YOU'RE CONCERNED? I'M NOT REAL CONCERNED TODAY.
NOW, IF WE KEEP SEEING RED NUMBERS EVERY MONTH FOR THE NEXT 2 OR 3 MONTHS, I MIGHT BE A LITTLE BIT CONCERNED.
BUT WE'RE STILL AT 10% AHEAD OF LAST YEAR, SO I THINK WE'RE IN A GOOD POSITION.
AND WITH THAT, I'M MORE THAN HAPPY TO ANSWER ANY QUESTIONS ABOUT THE FINANCIALS.
THANK YOU. WE'LL MOVE ON TO THE BOARD.
[H. BOARD REPORT ITEMS]
REPORT ITEMS. EDC BOARD OF DIRECTORS REPORTS ABOUT ITEMS OF COMMUNITY INTEREST IN WHICH NO ACTION WILL BE TAKEN. DOES ANYBODY HAVE ANYTHING? OKAY, MR. CHAIRMAN. I APOLOGIZE, I DID WANT TO.I MADE MYSELF A NOTE THAT I DIDN'T BRING UP.
I'M DONE WITH THE FINANCIALS. HOWEVER, I WANTED TO GIVE YOU A HEADS UP THAT WE DID RELEASE OUR BUDGET SCHEDULE.
THE CITY'S BUDGET SCHEDULE? TODAY OR YESTERDAY, IT WAS SENT TO ALL THE DEPARTMENT HEADS, AND WE'LL NEED TO APPROVE.
WE'LL APPROVE A BUDGET IN JULY SO THEY CAN PUT IT IN THEIR PACKET AND GET IT READY FOR APPROVAL IN AUGUST. THE GOOD NEWS FOR YOU IS I'M GOING TO DO THE BUDGET FOR YOU THIS YEAR, AND I'M GOING TO OBVIOUSLY SHARE IT WITH YOU AND GET FEEDBACK AND EVERYTHING. BUT I KNOW LAST YEAR IT WAS A LITTLE BIT MORE LABOR INTENSIVE.
THE BOARD'S SAT DOWN AND REALLY KIND OF FORMULATED THE BUDGET.
OR AT LEAST I KNOW THE CHAIRS SPENT SOME TIME ON IT.
DESHAWN AND I WILL PUT THAT TOGETHER.
WE'LL PROVIDE IT TO THE BOARDS IN ADVANCE.
WE CAN HAVE A CONVERSATION ABOUT IT.
WE MAY EVEN DO THAT AS EARLY AS JUNE.
SO YOU HAVE A MONTH TO THINK ABOUT IT.
AND THEN WE WILL BE ASKING YOU ALL TO TO APPROVE A BUDGET, I BELIEVE, IN JULY, UNLESS THE CITY'S BUDGET SCHEDULE CHANGES AND THEN WE MAY PUSH IT BACK A MONTH. MY APOLOGIES.
THANK YOU. AND WE APPRECIATE YOU DOING IT.
AND BACK TO YOUR OTHER COMMENT ABOUT THE YOUR YOUR SALARY AND SALARY BEING INVESTMENTS.
[00:10:04]
I THINK WE GET A RETURN ON IT. THAT'S IMPORTANT.THANK YOU BOTH. WE'LL MOVE ON TO THE CONSENT AGENDA.
[I. CONSENT AGENDA]
ALL CONSENT AGENDA ITEMS LISTED ARE CONSIDERED TO BE ROUTINE BY THE ECONOMIC DEVELOPMENT CORPORATION AND WILL BE ENACTED BY ONE MOTION.THERE WILL BE NO SPECIFIC DISCUSSION OF THESE ITEMS UNLESS A BOARD MEMBER.
SO REQUESTS IN WHICH EVENT THE ITEM WILL BE REMOVED FROM THE CONSENT AGENDA AND CONSIDERED IN ITS NORMAL SEQUENCE ON THE AGENDA IN OUR FIRST ONE IS THE MINUTES.
DISCUSS A DISCUSSION AND ACTION REGARDING THE MINUTES FROM APRIL 7TH, 2025. REGULAR MEETING EDC MINUTES ARE ATTACHED AND THEN ALSO, THE PDC FINANCIAL STATEMENT DISCUSSION ACTION REGARDING THE PDC FINANCIAL STATEMENT.
SO I'LL NEED UNLESS THERE'S ANY QUESTIONS OR COMMENTS WE'LL NEED A MOTION TO APPROVE.
I'LL MAKE A MOTION TO APPROVE A SECOND.
I'LL SECOND. YOU HAVE TO VOTE ON YOUR MONITOR. OKAY.
DO WE GET IT? YEAH. ALL RIGHT, MR. CHAIRMAN, IT DOESN'T SHOW YOUR VOTE.
THERE WE GO. SORRY. THANK YOU. YOU'RE GOOD.
I WAS THINKING I DID, I PUSHED, PUSHED, BUT THAT PASSES OR IS APPROVED FIVE ZERO. THANK YOU.
WE'LL MOVE TO THE REGULAR AGENDA.
[J. REGULAR AGENDA]
FIRST ITEM J1 2020 5-010 PDC PROJECTS UPDATE UPDATE DISCUSSION REGARDING CURRENT PDC PROJECTS. SO THIS WILL ENCOMPASS EVERYTHING WE HAVE GOING AT THIS POINT.WE'VE REVIEWED IT ONCE IN THE PAST, BUT THIS WILL GIVE US AN UPDATE ON WHERE WE ARE AND IF WE HAVE ANY QUESTIONS THE OPPORTUNITY TO ASK JIM.
VERY GOOD. THANK YOU, MR. CHAIRMAN. AND I'M GOING TO GIVE KIND OF A BROAD OVERVIEW.
THE VAST MAJORITY OF THESE PROJECTS I WAS NOT HERE TO REALLY DEAL WITH AT ALL.
A COUPLE OF THEM I HAVE DEALT WITH.
I'M GOING TO GIVE KIND OF A BROAD OVERVIEW THERE IF IF THERE ARE ANY DETAILED QUESTIONS THAT YOU'D LIKE TO KNOW ABOUT ANY OF THEM, AND I'LL LET YOU KNOW, BUT WE MAY HAVE TO CARRY THOSE INTO EXECUTIVE SESSION.
SO JUST UNDERSTAND AS WE GO THROUGH.
IF YOU HAVE A QUESTION THAT WE'D RATHER ADDRESS AN EXECUTIVE SESSION, I'LL LET YOU KNOW. AS WE GO THROUGH THIS.
AND DESHAUN DID A GREAT JOB PUTTING THE SLIDE DECK TOGETHER.
UNDER COMMUNICATIONS AND INFRASTRUCTURE THE CITY DID A COMMUNICATIONS MASTER PLAN IN 2021. THIS BOARD APPROVED 124 FIVE TO SUPPORT THAT PLAN.
AND TO INITIATE A CITYWIDE COMMUNICATION PLAN.
I BELIEVE THAT THAT OBVIOUSLY, IF IT WAS 2021, THAT PLAN WAS EITHER COMPLETE OR IS IN THE MIDDLE OF BEING COMPLETED.
I KNOW THERE'S SOME WIRELESS THAT WE'RE STILL POSSIBLY WORKING ON.
WE JUST HAPPEN TO HAVE THE IT DIRECTOR HERE TONIGHT.
AND SO IT'S KIND OF A REBUILD RIGHT NOW.
YEAH, WE DO HAVE THE BOARD ALSO, PRIOR TO ME GETTING HERE SIGNED A CONTRACT WITH ANTHEM NET. PUT UP ANOTHER CELL TOWER ON OUR 30 ACRES.
THEY ARE IN THE PROCESS OF PUTTING THAT UP AS WE SPEAK.
FINALLY, THEY'RE MOVING FORWARD WITH THAT. WE JUST GOT THEM THROUGH ALL THEIR ENTITLEMENTS.
I HAD TO THERE WAS A VERY SLIGHT CHANGE IN THE FOOTPRINT THEY HAD TO PUT SO FIRE TRUCKS COULD TURN AROUND. AT THE END OF THE ENTRANCE.
THEY HAD TO PUT WHAT THEY CALL A HAMMERHEAD, WHICH IS LIKE A IT'S A SHORT STREET STEMMING BOTH DIRECTIONS OFF THE VERY END OF A STREET, SO A FIRE TRUCK CAN PULL AROUND ONE WAY BACK UP, AND THEN LEAVE THE SITE AS WELL.
DOESN'T HAVE A BIG EFFECT ON US.
I HAD TO GIVE THEM PERMISSION TO DO THAT.
WE ALSO AS A CORPORATION, WE INVESTED $500,000 WITH SEA ENERGY FOR A GAS MAIN INSTALLATION FROM THE CENTER OF TOWN THROUGH THE CROSSROADS PROPERTY.
THOSE ARE TWO OF THOSE THINGS ARE IN THE PAST.
THE ANTHEM THAT TERROR IS ONGOING AND THAT SHOULD BE COMPLETED, I WOULD THINK, WITHIN THE NEXT COUPLE OF MONTHS BECAUSE THEY'RE THEY'RE MOVING ALONG.
WE JUST RELEASED THEM TO WORK TEN DAYS AGO, I BELIEVE BUSINESS PARK AND MARKETING.
I HAD MENTIONED THIS TO YOU A COUPLE TIMES, BUT THE 99 VISION STAR PHARMACY, THAT PROJECT, WE HAVE DEFAULTED AND WE HAVE TERMINATED THAT DEVELOPMENT AGREEMENT.
[00:15:03]
ON THAT SIDE OF THE PROPERTY, THERE ARE NO INCENTIVES TIED TO THE LAND ANYMORE. DOESN'T MEAN WE WOULDN'T PROVIDE INCENTIVES FOR A GOOD PROJECT, BUT THERE ARE NO GUARANTEED INCENTIVES.WHAT YOU SEE ON THE GRAPHIC, THE YELLOW PORTION IS WHAT WE HAVE CLAWED BACK TO CONTROL THE RED PORTION, THE 9.4 ACRES THEY CONTINUE TO CONTROL.
BUT THE AGREEMENT IS WE'LL WORK TOGETHER.
AND IF WE COME UP WITH SOMETHING, WE'LL INCLUDE THEIR LAND.
IF THEY COME UP WITH SOMETHING, IT'S WHAT WE WANT.
OBVIOUSLY, WE'LL NEGOTIATE TO PUT OUR LAND IN IT.
THE DIFFERENCE BEING IS THAT WE'RE GOING TO SELL OUR LAND. WE'RE NOT GOING TO GIVE IT TO THEM FOR UNDER MARKET AND LET THEM MARK UP OUR LAND AND SELL IT.
THAT'S GOING TO COME TO US BUFF AND SHINE.
WE HAD THEM CONSIDERING TO MOVE FORWARD WITH THEIR PROJECT.
THEY HAVE RECENTLY GONE SILENT, AND I'VE TRIED TO GET A HOLD OF THEM LITERALLY OVER A DOZEN TIMES.
I ASSUME THEY'RE GOING TO PUT THAT ON THE MARKET.
I HAVE LET THEM KNOW IF THEY PUT IT ON THE MARKET, WE'D BE INTERESTED IN GETTING THAT BACK.
BUT I'VE NOT HEARD BACK FROM THEM.
I KNOW THERE'S BEEN SOME TALK ABOUT, YOU KNOW, NOT THE BEST USE IN A PROFESSIONAL PARK. IT'S, YOU KNOW, I DON'T KNOW ANY CITIES THAT HAVE ENOUGH GOOD QUALITY DAYCARE. AND THAT LOOKS TO BE A VERY NICE FACILITY.
I THINK WE'RE EXPECTING THEM TO HAVE A GRAND OPENING LATER THIS MONTH OR IN JUNE.
IT'S COMING ALONG REALLY WELL.
AND AGAIN, A VERY ATTRACTIVE BUILDING.
PRINCETON STORAGE, AS YOU KNOW, HAS ALREADY COMPLETED THEIR FIRST PHASE.
NOT ONLY ARE THEY COMPLETED IT, THEY'VE ALREADY SOLD IT. SO THEY BUILT IT AND SOLD IT TO FEDERAL STORAGE.
AND THEN THEY OWN ANOTHER PARCEL OF LAND ON THE MAP THAT YOU SEE, AND THAT WHERE IT HIGHLIGHTS THE BUSINESS PARK JUST TO THE RIGHT OF WHERE THE STORAGE IS BUILT, YOU SEE A GREEN PARCEL AND THEN YOU SEE A RED PARCEL NEXT TO IT.
THEY STILL OWN THE RED PARCEL, AND THEY'RE LOOKING TO DO SOME ADDITIONAL RETAIL ON THAT PARCEL THAT RIGHT UNDER WHERE THE LABEL FOR CORPORATE DRIVE IS, SO RIGHT ABOVE WHERE THE CURSOR IS ADDITIONALLY WHERE THE CELL TOWER IS BEING BUILT, WE HAVE, AS YOU KNOW, APPROXIMATELY 30 ACRES, MOST OF IT'S DEVELOPABLE ABOUT FIVE ACRES ON IT.
WE MIGHT BE ABLE TO RECLAIM A LITTLE BIT OF THAT FIVE ACRES.
THE CELL TOWER IS GOING TO TAKE UP A LITTLE BIT OF IT.
BUT IF YOU REMEMBER, FOR THOSE THAT WERE ON THE BOARD, I'LL REMIND YOU, FOR THOSE WHO WEREN'T ON THE BOARD, I'LL I'LL UPDATE YOU AS A CELL TOWER IS GOING TO GO IN THE VERY TOP LEFT HAND CORNER OF THAT GREEN BOX THAT'S ON YOUR.
SO IT'S JUST RIGHT OFF OF IS THAT 982? NO, IT'S 1912 OR 1219.
SO IT'S THE CELL TOWER REALLY SHOULDN'T HAVE A BIG ISSUE, AND IT'S GOING TO BE ON THE STREET SIDE OF THE DETENTION POND OR REALLY THE CATTLE WATERING POND, BUT NOW THAT IT'S DEVELOPABLE LAND, WE'RE GOING TO CALL IT A DETENTION POND.
SEE WHAT I DID THERE? I TURNED SOMETHING INTO OR NOTHING INTO SOMETHING.
SO WE HAVE ABOUT 25 ACRES BELOW WHERE YOU SEE THAT KETTLE POND ON THERE? SPEAKING OF CATTLE POND WE HAVE SOMEHOW INHERITED SIX HEAD OF CATTLE THAT ARE ON OUR PIECE OF LAND. WE ARE INVESTIGATING THAT, TRYING TO FIGURE OUT WHOSE CATTLE THEY ARE, BECAUSE WHOEVER IT IS HAS A COMBINATION TO OUR LOCK BECAUSE THEY'RE NOT CUTTING THE LOCK, AND THERE'S NOT A CUT IN THE FENCE.
SO IT'S NOT A BAD THING THAT THEY'RE ON THERE.
ALL THEY'RE DOING IS BASICALLY DOING GRASS CONTROL FOR US.
I DON'T MIND IT, BUT IT'D BE PRETTY COOL TO LET THE OWNER OF THE PROPERTY KNOW BEFORE YOU PUT SIX CATTLE AND TWO FEED TROUGHS AND A SALT LICK ON THEIR PROPERTY.
SO WE'LL LET YOU KNOW WHAT WE FIND OUT THERE.
I'M TRYING TO IDENTIFY THEM AND ACTUALLY GET THEM OUT THERE AS SOON AS POSSIBLE, BECAUSE TO SHAWNA WANTS TO ADOPT THEM, AND AND EVERY TIME SHE GOES OUT THERE, SHE'S LIKE, OH, THESE SWEET BABIES.
YOU GOTTA ADMIT IT. SHE'S AN ANIMAL LOVER.
BUT NO. SO SO WE'VE GOT IF YOU LOOK AT THOSE TWO PIECES OF LAND, WE'VE GOT THE 125 25 ACRE, 25 ACRES IS THE BIGGEST SITE TOGETHER THAT WE HAVE TO DEVELOP. THAT'S NOT A BIG SITE.
SO WE'LL CONTINUE TO KEEP OUR EYES OPEN.
CLEARLY, WE'RE GOING TO CONTINUE TO WORK WITH LANDOWNERS THAT THAT DO OWN BIGGER PARCELS THAT ARE DEVELOPABLE BECAUSE, YOU KNOW, WE CAN DO SOME POSITIVE THINGS WITH OURS. BUT, YOU KNOW, IT'S, IT'S IDEAL TO HAVE A LARGER A LARGER PARCEL
[00:20:01]
IS AND THEN THE PERFORMANCE AGREEMENT UPDATE NEXT SSD FRISCO'S OR TROPICAL CAFE IS THEY'RE CONTINUING TO LEASE OUT.THAT IS ONGOING. BUFF AND SHINE IS TECHNICALLY IN DEFAULT, BUT WE HAVE NOT CALLED IT IN DEFAULT.
WE'RE TRYING TO FIGURE OUT IF WE'RE GOING TO BE ABLE TO GET THEM TO MOVE FORWARD OR NOT.
THEY ACTUALLY HAPPEN TO OWN THE ONE PARCEL AND THE PROFESSIONAL PARK THAT I COULD PROBABLY PUT A LIGHT INDUSTRIAL USE BECAUSE THAT BACKS UP TO A PARK AND IT DOESN'T BACK UP TO ANY RESIDENTIAL.
SO IT'S PRETTY MUCH LIGHT INDUSTRIAL.
I'LL CONTINUE TO TALK WITH THEM, AND I'LL LET THE BOARD KNOW.
OUR PRINCETON CROSSROADS, AS YOU KNOW, IS INTERNATIONAL CAPITAL.
RON THOMAS, THEY ARE TALKING TO AN ONGOING CONVERSATIONS WITH A NUMBER OF PROSPECTS, SOME IN THE HEALTH CARE, SOME IN THE GROCERY INDUSTRY PRINCETON TOWN CENTER, UNITED MARKETS THEY ARE FINALIZING SOME FINANCING.
AND THE OWNER, OWNER, BROKER SLASH DEVELOPERS BRINGING ON A PARTNER AND THAT IS DELAYED IT A BIT TO TRY TO DECIDE WHO THE CORRECT PARTNER IS AND MARKET STREET OR UNITED SUPERMARKETS, YOU KNOW, IF ANYBODY ASKS, THEY ARE COMMITTED. BUT THEY'RE NOT THE ONES BUILDING THEIR FACILITY.
THE DEVELOPER IS. SO THEY'RE WAITING ON ON THE DEVELOPER.
I'VE ALREADY UPDATED YOU ON 99 VISION AND CHILDREN'S LIGHTHOUSE SHOULD BE DONE BY THE END OF THE MONTH OR THE FIRST OF NEXT MONTH.
THE NEXT ONE JUST KIND OF ON SOME BUSINESS ENGAGEMENT INITIATIVES, CITY SUPPORT. WE ARE IN A PROCESS OF COMPLETELY REDESIGNING THE WEBSITE.
WHAT I WOULD LIKE TO DO IS PUT THE ECONOMIC DEVELOPMENT CORPORATION AND THE COMMUNITY DEVELOPMENT CORPORATION ON THE SAME LANDING PAGE, THE SAME WEBSITE, HAVE A DESCRIPTION OF BOTH CORPORATIONS, AND LET THAT BE A JUMPING OFF POINT FOR PEOPLE TO GO EITHER ECONOMIC OR COMMUNITY DEVELOPMENT. THAT'LL DO ONE OF TWO THINGS.
FIRST THING I'LL DO IS IT'LL DOUBLE THE TRAFFIC FOR BOTH, BECAUSE IF YOU'RE GOING TO EITHER CORPORATION, YOU'RE GOING TO AT LEAST SEE A WELCOME AND AN INTRO TO THE OTHER CORPORATION ON THE LANDING PAGE. THE OTHER THING IT'LL DO IS IT'LL MAKE IT BOTH ORGANIZATIONS LOOK JUST MORE PROFESSIONAL AND REALLY LIKE THEY'RE LIKE, WE INTEND TO USE THEM HOLDING HANDS TO THESE DIFFERENT PROJECTS AND WORKING TOGETHER INSTEAD OF HAVING TWO VERY DIFFERENT CORPORATIONS OF DIFFERENT SCOPES.
THE EDC WILL NOT LOSE ANYTHING FROM THEIR WEBSITE.
ONCE YOU JUMP OFF AND GO TO THE EDC, YOU'RE GOING TO HAVE AS MUCH INFORMATION AS YOU HAVE TODAY OR MORE.
BUT THE CDC AND THAT'S ANOTHER THING THAT WE'LL HAVE TO COORDINATE, BECAUSE WE DO WANT PICTURES OF ALL BOARD MEMBERS.
WE WANT BIOS OF ALL BOARD MEMBERS.
I'M A BIG PROPONENT. UNLESS THE BOARD VOTES AND REFUSES PEOPLE SEEING WHO THEY'RE DEALING WITH. I THINK IT ADDS A PERSONAL TOUCH.
WE'RE IN THE MARKETING BUSINESS.
I LIKE THEM TO. YOU DON'T HAVE TO PUT ANY PERSONAL CONTACT INFORMATION OR ANYTHING LIKE THAT, BUT YOU GUYS INVEST A LOT OF YOUR TIME IN VOLUNTEERING FOR THE CITY.
I'D LIKE TO SEE YOU GUYS GET RECOGNIZED, BUT BE.
I ALSO THINK IT'S NICE TO KIND OF HAVE A PUT A FACE WITH A NAME.
OBVIOUSLY WE'VE BEEN USING ADDITIONAL BUSINESS CARDS FOR QUITE SOME TIME.
WE ARE LOOKING AT A SYSTEM WHERE YOU CARRY THAT DIGITAL BUSINESS CARD ON YOUR PHONE.
YOU DON'T ACTUALLY HAVE TO CARRY A CARD, AND YOU JUST SHOW THE PHONE TO EACH OTHER.
IT'LL AUTOMATICALLY DOWNLOAD THE ENTIRE BUSINESS CARD.
THERE'S ALREADY A WAY TO KIND OF SHARE SOME CONTACT INFORMATION, BUT IT'S NOT QUITE AS FORMAL AS WE ACTUALLY.
KIMLEY-HORN HAS A SOFTWARE COMPANY WIDE THAT DOES THAT, AND IT'S REALLY SLICK.
AND I WANT TO GIVE YOU AN IDEA, SOME OF OUR LEAD CHANNELS YOU KNOW, WE HAVE NOT REALLY TALKED ABOUT THAT AND LEAD CHANNELS THAT I'VE USED MY ENTIRE CAREER.
THE STATE OF TEXAS DOES SEND OUT LEADS THAT GO THROUGH THE GOVERNOR'S OFFICE.
ECONOMIC DEVELOPMENT IS A PRIORITY FOR THE STATE OF TEXAS.
IT'S SUCH A PRIORITY THAT THEIR OFFICE IS PART OF THE GOVERNOR'S OFFICE.
THE DALLAS REGIONAL CHAMBER OF COMMERCE HAS A LOT OF ACTIVITY THAT GOES THROUGH THEM, AND THEY REPRESENT THE ENTIRE REGION.
WE USED TO BE A MEMBER AND THEY QUIT DOING MEMBERSHIPS.
THEY JUST ASSUME ALL THE CITIES IN THEIR METROPLEX ARE MEMBERS, AND THEN THEY REACH OUT TO US AND INVITE US EITHER TO A MARKETING EVENT OR TO AN EDUCATIONAL EVENT, OR THEY WILL ALSO, IF WE'RE IN THE AREA THAT A COMPANY IS LOOKING, THEY'LL SEND A LEAD TO US.
ONCOR ELECTRIC IS ALSO A LEAD.
SOURCE. THEY'VE GOT AN ECONOMIC DEVELOPMENT TEAM STATEWIDE.
AND THEY, THEY PROVIDE LEADS AS WELL.
[00:25:01]
AND THEN REALLY, ONE THAT'S NOT LISTED IS I'M OLD.I'VE BEEN DOING THIS A LONG TIME, AND I JUST KNOW A LOT OF BROKERS, A LOT OF SITE SELECTORS.
AND SO JUST COMMUNICATING WITH THEM AND GETTING IN FRONT OF THEM IN AN ONGOING BASIS JUST TO SEE IF THERE'S ANYTHING IN THEIR PORTFOLIO THAT MIGHT MAKE SENSE.
ENGAGEMENT CHAMBER OF COMMERCE.
MET WITH THEM TODAY. WE'RE LOOKING AT A NEW PROGRAM, ACTUALLY, THAT I'M GOING TO ROLL THEM AND AND THE CTE PROGRAM WITH THE ISD INTO WHICH WOULD BE AN APPRENTICESHIP PROGRAM THAT WILL BE PROBABLY BE THROUGH THE CDC, BECAUSE LEGALLY IT'S MORE APPROPRIATE THROUGH THE CDC AND TO WHERE WE CAN ACTUALLY GET WITH COMPANIES THAT ARE IN IDENTIFIED INDUSTRIES LIKE HEALTHCARE OR VETERINARY MEDICINE, TECH, HVAC, AUTO REPAIR, THINGS LIKE THAT, AND MAKE A DEAL WITH THE COMPANY THAT FOR EIGHT WEEKS OVER THE SUMMER, WE'LL PAY THEIR SALARY.
IF YOU'LL EMPLOY THESE KIDS, LET THEM LEARN UNDER YOU TO WHERE WHEN THEY GET OUT OF HIGH SCHOOL, THEY ACTUALLY HAVE A SKILL AND THEY CAN GO BACK TO WORK IN THE INDUSTRY.
WE HAVE AN AWFUL LOT OF KIDS IN OUR ISD, AND I'M GUESSING 3 OR 400.
EVERY YEAR THAT GRADUATE, THEY'RE NOT GOING TO COLLEGE, THEY'RE NOT GOING TO TRADE SCHOOL, THEY'RE NOT JOINING THE ARMY.
SO THEY'RE ESSENTIALLY GRADUATING WITHOUT A LOT OF JOB SKILLS.
AND OUR RISING TIDE LIFTS ALL BOATS.
AND IF WE CAN GIVE THOSE KIDS AN OPPORTUNITY TO LET THEMSELVES UP, LEARN THE TRADE, GET IN THE WORKFORCE WHERE THEY CAN WORK THEIR WAY UP, CLEARLY, IT HELPS ALL OF US.
YOU GET FEWER PEOPLE ON SOCIAL SERVICES.
YOU MEAN INSTEAD OF A TRICKLE DOWN EFFECT, IT HAS A TRICKLE UP EFFECT, I THINK. SO WE'RE VERY EXCITED ABOUT THAT.
AND I BRING THAT UP ON THE CHAMBER OF COMMERCE BECAUSE WE'RE BRINGING THEM IN AS A PARTNER. AS YOU KNOW, WE ARE ALREADY MEMBERS OF THE CHAMBER OF COMMERCE. WE ARE ALSO SPONSORS OF CERTAIN EVENTS WITH THE CHAMBER OF COMMERCE, AS IS ALLOWABLE BY LAW OUT OF OUR MARKETING FUND.
AND THEN THE OTHER THING WE WE HAVE PARTNERED WITH THE CITY WITH CROWD CONTROL BARRICADES AND COOLING SHELTERS. AND THEN WE'VE TRANSFERRED MONEY TO COMMUNITY EVENTS EACH YEAR TO HELP OFFSET COSTS OF, I'M SURE, PUBLIC SAFETY.
AND ALSO WHAT I HAD MENTIONED ABOVE.
YET ON THE UPDATES, JUST TO KIND OF GIVE YOU AN IDEA, WHEN I CAME IN AND PRESENTED TO BOTH BOARDS BEFORE YOU HIRED ME.
AND BY THE WAY, I'M NOT SURE I THANKED YOU FOR THAT.
SO THANK YOU FOR BRINGING ME IN.
I TOLD YOU I WAS GOING TO LOOK AT EVERYTHING, AND I MEANT EVERYTHING, AND IT'S A LONG PROCESS.
AND LAST MEETING, YOU APPROVED UPDATED BYLAWS.
THOSE HAVE SINCE BEEN APPROVED BY THE CITY COUNCIL.
THOSE ARE, IN EFFECT POLICIES AND PROCEDURES ARE ON THE AGENDA TONIGHT.
I HOPE YOU HAD A CHANCE TO READ THEM. AND IF YOU IF YOU HAVEN'T READ THEM, IT'S NOT AN ABSOLUTE EMERGENCY THAT WE APPROVE THEM TONIGHT BEFORE YOU APPROVE THEM, SINCE YOU'RE GOING TO BE LIVING BY THEM. AND THAT'S WHAT'S GOING TO KIND OF CONTROL OUR RELATIONSHIP AND HOW WE MOVE PROJECTS FORWARD.
I WOULD RATHER WAIT A MONTH THAN APPROVE THEM, THAN HAVE YOU APPROVE SOMETHING THAT YOU HAVEN'T EVEN GLANCED AT? SO IT'S CERTAINLY UP TO YOU IF YOU'VE LOOKED AT THEM.
I'M HAPPY TO MOVE FORWARD WITH THEM TODAY. THEY'RE ALSO ON THE CDC'S AGENDA.
RULES OF ORDER. ROBERT'S RULES OF ORDER.
WE GENERALLY FOLLOW AS A CORPORATION.
I'M NOT COCKY ENOUGH TO TRY TO AMEND ROBERT'S RULES OF ORDER.
THEY'VE BEEN AROUND A LONG TIME, AND THOSE PEOPLE REALLY KNOW HOW TO RUN MEETINGS, SO I DON'T THINK I'M GOING TO BE MESSING WITH THOSE TOO MUCH.
FINANCIAL REPORTING IN ACCOUNTING.
IF YOU'LL NOTICE, WE'VE ALREADY CHANGED OUR FINANCIAL REPORTING. WE'VE CHANGED OUR THE REPORTS THAT WE GET EACH MONTH.
WE'VE CHANGED THE LIGHTS STAYING ON THROUGHOUT THE ENTIRE MEETING.
I DID THAT WITHOUT EVEN PAUSING.
WE'VE CHANGED SOME OF THE NOMENCLATURE THAT WE USE IN OUR FINANCIALS.
GRANT PROGRAMS. WE WILL CONTINUE TO ADDRESS THOSE.
AND PLEASE KEEP IN MIND PROJECTS DON'T HAVE TO FALL UNDER OUR GRANT PROGRAM FOR US TO SUPPORT THEM. AND THEY CAN STILL COME TO US AND ASK US IF IT'S ILLEGAL EXPENDITURE OF OURS. CAN YOU SUPPORT THIS? IF IT IS LEGAL EXPENDITURE, I CAN LOOK AT IT.
AND IF IT IS SOMETHING THAT IS GOOD FOR THE COMMUNITY, I CAN BRING IT TO YOU. IT DOESN'T HAVE TO BE UNDER SPECIFIC GRANT PROGRAM, GRANT PROGRAMS. IT'S ACTUALLY, I THINK, PROBABLY BETTER THAT THIS BOARD DOESN'T HAVE SPECIFIC GRANT PROGRAMS. AND TO GO ON A PROJECT, A PROJECT BASIS, THERE'S NO MORE LENIENCY WITH THE SALES TAX OR WITH THE CDC.
[00:30:02]
SORRY. INCENTIVE APPLICATIONS.I WOULD PROBABLY PUT ON THE NEXT AGENDA SINCE WE HAVEN'T PUT ON AN AGENDA BECAUSE I'VE HAD A NEW ONE FOR A WHILE AND THAT'S MY FAULT.
I SHOULD HAVE GIVEN IT TO YOU TO PUT ON AN AGENDA JUST TO BRING YOU AWARE OF IT.
I'VE GOT ONE THAT THERE ARE CERTAIN THINGS YOU KIND OF BRING WITH YOU FROM COMMUNITY TO COMMUNITY, AND IT'S ONE THAT I'VE BEEN USING SINCE I WAS IN MCKINNEY.
I'VE USED IT IN FOUR COMMUNITIES NOW.
IT IS A FILLABLE FORM PDF ON THE WEBSITE.
THEY DON'T HAVE TO HANDWRITE ANYTHING IN, THEY TYPE IT IN.
I BASICALLY REBRANDED ANOTHER COMMUNITIES.
FULL DISCLOSURE, I REBRANDED ANOTHER ONE AS.
WHEN YOU SEE THAT. DON'T THINK I SPENT TWO WEEKS FORMATTING THAT I DID NOT.
I JUST REBRANDED IT. BUT THEN ALSO, QUITE HONESTLY, INCENTIVE POLICIES. AND I'M PARTIALLY THROUGH AN INCENTIVE POLICY UPDATE THAT I WILL BRING TO YOU. AND AND AGAIN, INCENTIVE POLICIES ARE A GUIDELINE BY LAW.
IF WE'RE GOING TO DO INCENTIVES, WE HAVE TO HAVE A POLICY.
HOWEVER, AND REALLY APPLIES MORE TO ABATEMENTS THAN OTHER TYPES, BUT IT'S BEST PRACTICE TO HAVE A POLICY ON ALL OF THEM.
HOWEVER, THE WAY STATE LAW IS WRITTEN, YOU HAVE TO HAVE A POLICY.
BUT THIS BOARD DOESN'T HAVE TO FOLLOW THAT POLICY. YOU HAVE TO HAVE ONE REGISTERED AS A STARTING POINT. BUT THE STATE OF TEXAS HAS GIVEN THIS BOARD 100% AUTHORITY TO VARY FROM THAT POLICY IN EITHER DIRECTION.
YOU CAN BE MORE RESTRICTIVE, OR YOU CAN BE MORE GENEROUS DEPENDING ON HOW WHAT THE PROJECT MEANS TO YOUR COMMUNITY.
I'LL BE BRINGING THAT BACK TO YOU AND THEN TRAINING AVAILABLE.
AND THE CHAIRMAN REACHED OUT TO ME AND I'M GLAD HE DID, BECAUSE I DIDN'T REALIZE SOME OF YOU GET THE EMAILS FROM TDC IF YOU PARTICIPATED PREVIOUSLY IN A TRAINING OR GONE TO A CONFERENCE TO DO THAT, YOU JOIN TDC AND YOU GET ON THEIR EMAIL LIST.
SALES TAX TRAINING, I BELIEVE, IS GOING TO BE IN THE DALLAS AREA IN OCTOBER.
YOU ARE NOT REQUIRED TO GO TO THAT.
I WOULD ENCOURAGE YOU TO GO TO THAT.
I BELIEVE IT'S GOING TO BE IN RICHARDSON. IT'S NOT FAR AWAY.
WE WILL PAY FOR YOU TO GO TO THAT.
WHEN I SAY ALL DAY, PROBABLY FROM 9 TO 3.
IT IS NOT THE MOST ENTERTAINING DAY YOU'LL EVER HAVE, BUT I THINK YOU'LL HAVE SOME GOOD TAKEAWAYS.
I HAVE TO GO THROUGH IT EVERY TWO YEARS.
I'D LOVE TO HAVE Y'ALL SIT THERE WITH ME AND KEEP PUMPING ME UP WHILE I SIT THROUGH THE SAME THING FOR THE 12TH TIME.
I HOPE EVERYBODY HAS ALREADY GONE THROUGH THAT. I BELIEVE THAT IS ALSO AVAILABLE ONLINE IF YOU'VE NOT GONE THROUGH IT.
I BELIEVE NOW IT USED TO BE RECOMMENDED.
I BELIEVE NOW IT IS REQUIRED FOR ALL LEGISLATIVE BOARDS, WHICH YOU ARE ONE, BECAUSE YOU SPEND MONEY TO GO THROUGH THAT.
IF YOU'VE NOT GONE THROUGH THAT, PLEASE REACH OUT TO DESHAUN AND LET US MAKE ARRANGEMENTS FOR YOU TO GO THROUGH THAT.
AND AGAIN, I BELIEVE TO SHAUNA AND GRANT, THERE IS A WEB BASED VERSION OF THAT YOU CAN GO THROUGH WHERE YOU YOU WATCH THE SLIDES, YOU TAKE A SHORT TEST AT THE END, WHICH IS NOT OVERLY DIFFICULT.
THEY EMAIL YOU AUTOMATICALLY A CERTIFICATE, AND THEN WE'RE GOOD TO GO AFTER THAT.
AND THEN WE ARE WE ARE IN THE PROCESS OF UPDATING YOUR ONBOARDING BINDER.
AND AS PART OF THAT, EVERY OTHER YEAR AFTER THE LEGISLATIVE SESSION, THERE WILL BE AN UPDATED, I CALL IT THE ECONOMIC DEVELOPMENT BIBLE.
IT IS AN ECONOMIC DEVELOPMENT GUIDE PUT OUT BY THREE ATTORNEYS WHO HELPED WRITE THE ECONOMIC DEVELOPMENT LAWS.
AS A SUMMARY FOR US PRACTITIONERS.
I STILL REFER TO IT ALL THE TIME AS LONG AS I'VE BEEN DOING THIS.
WE'VE ADDED A LINK TO THAT IN THE ONBOARDING BINDER AND DON'T FREAK OUT.
IT'S A 200 SOMETHING PAGE DOCUMENT, ONLY ABOUT 20 PAGES PERTAIN TO THIS BOARD, AND IT'S NOT A HARD READ.
YOU CAN READ THROUGH IT AND THAT APPLIES TO BOTH A AND B YOUR A.
THIS BOARD IS TYPE A, BUT IF YOU READ THROUGH IT I KIND OF RECOMMEND IT BECAUSE IT'LL IT'LL DO TWO THINGS.
NUMBER ONE IT'S VERY INFORMATIVE.
NUMBER TWO, IT KIND OF HELPS YOU UNDERSTAND THE RELATIONSHIP BETWEEN TYPE A'S AND TYPE B IS WHAT THE DIFFERENCES AND SIMILARITIES ARE.
AND WITH THAT I BELIEVE I AM FINALLY DONE UNLESS THERE ARE ANY QUESTIONS.
THANK YOU. THAT WAS THAT WAS VERY THOROUGH. I DO I DO HAVE A COUPLE OF QUESTIONS. WHEN YOU KIND OF REFER TO SOME OF THE INCENTIVES THAT WE HAVE OR THE COMMITMENTS FINANCIALLY THAT WE HAVE OUT THERE, LIKE IF IT'S UNITED OR BUFF AND SHINE, THEY'VE BEEN KIND OF PUSHED BACK.
BUT DO WE HAVE TIMELINES ON THOSE WITH OUR AGREEMENTS WHERE WE NEED TO REDO SOMETHING, OR WILL THEY STAY CURRENT NO MATTER HOW LONG IT TAKES FOR THEM TO GET STARTED? YES. EVERY CONTRACT HAS A DEADLINE.
[00:35:06]
WITH ME HERE, EVERY EVERY SALE OF LAND WILL ALSO HAVE A DEADLINE.THERE ARE VERY FEW EXCEPTIONS, ONE OF WHICH WILL ACTUALLY DISCUSS AN EXECUTIVE SESSION. NOW THAT I'VE SAID THAT OUT LOUD.
THE UNITED GROCERS IS LATE SUMMER OF THIS YEAR.
NOW, NOW, I'LL ALSO TELL YOU THAT EVERY CONTRACT HAS A DEADLINE, BUT EVERY CONTRACT SHOULD BE.
AND I BELIEVE THESE ARE ACTUALLY.
WHICH IS GREAT. THEIR WORD IN A WAY THAT IT GIVES THIS BOARD THE OPTION TO DEFAULT THE OTHER PARTY, BECAUSE THERE ARE VERY LEGITIMATE REASONS.
SOMETIMES PEOPLE RUN BEHIND, BUT THERE'S A DEADLINE IN THERE TO WHERE IF THE BOARD DECIDES, LOOK, WE'RE DONE WAITING, WE'RE DEFAULTING THIS CONTRACT.
I WOULD WRITE THEM OR MYSELF OR GRANT WOULD WRITE THEM A LETTER OF DEFAULT.
GENERALLY, THEY HAVE ANYWHERE BETWEEN 30 AND 90 DAYS, PREFERABLY RIGHT IN THE MIDDLE, PREFERABLY 60 DAYS IS HOW I USUALLY DO IT TO CURE ANY DEFAULT. AND THEN AFTER THAT, THEN WE WOULD HAVE TO ACTIVELY TERMINATE.
AND I ONLY SAY THAT IN THE FACT THAT JUST BECAUSE THERE'S A DEADLINE, IT DOESN'T AUTOMATICALLY TERMINATE.
IT GIVES US THE OPTION AND IT GIVES, YOU KNOW, IT GIVES US AN OPPORTUNITY IF WE HAVE TO, TO NEGOTIATE A LITTLE BIT, BUT IT GIVES US THE OPTION TO TERMINATE A CONTRACT OR AT LEAST CALLED IN DEFAULT.
BUT EVERY ONE OF OUR PROJECTS HAVE THEM.
THE TROPICAL CAFE, THAT ONE ONGOING HAS BEEN ON TIME.
THE CROSSROADS IS STILL LEGITIMATE.
AS I SPEAK, BUFF AND SHINE IS IN DEFAULT.
VISION IS TERMINATED. BUFF AND SHINE IS IN DEFAULT, AND THE OTHER ONES ARE ACTUALLY WITHIN THEIR GUIDELINES. OKAY.
THANK YOU. YES, SIR. THE OTHER THING, JUST FOR THE BOARD'S INFORMATION, WHEN I DID RECEIVE THE EMAIL FROM TDC, THERE'S A NUMBER OF TOPICS ON THERE.
I JUST SENT IT TO JIM SO THAT HE MAY BE ABLE TO SEE THE THINGS THAT WE MIGHT BE BEST SUITED TO DO THE TRAINING ON, BECAUSE THERE'S A FEE ASSOCIATED WITH IT.
BUT OBVIOUSLY WE WE COULD PICK IT OUT FROM OUR TRAINING PERSPECTIVE.
YEAH. AND IF AND IF IT'S, I THINK, PERTINENT TO WHAT WE'RE DOING.
AND THANK YOU, MR. CHAIRMAN, BECAUSE I FORGOT TO BRING THAT UP UNDER THIS IF IT'S PERTINENT. WE WILL.
AND I NEED DARSHANA TO HELP REMIND ME TO SEND THIS OUT.
WE'LL SEND A NOTIFICATION OUT TO THE BOARD.
AND IF IT'S SOMETHING THAT WE THINK WILL BE BENEFICIAL, WE'LL PAY FOR IT. SO THE BOARD, WE CAN GO IN WITH OUR CREDIT CARD, WE CAN PAY FOR THE TRAINING AND SEND YOU THE LINK. AND THEN YOU CAN GO THROUGH THE WEBINAR OR WHATEVER IT MIGHT BE.
THAT'S THE OTHER THING. THEY WERE ALL ONLINE THROUGH THERE. SO IT MAKES IT EASIER FOR US.
IN A LOT OF CASES YOU CAN EVEN DOWNLOAD THEM.
LET'S SEE. OKAY. WE'LL MOVE TO 2025011 PDC POLICIES AND PROCEDURES.
CONSIDER, DISCUSS AND ACT ON RESOLUTION ON THE PDC.
ADOPTING AMENDED POLICIES AND PROCEDURES FOR ITS AFFAIRS.
PROVIDING FOR REPEALING AND SEVERABILITY CLAUSES, PROVIDING FOR AN EFFECTIVE DATE AND CONTAINING OTHER MATTERS RELATED TO RELATED THERETO. AND THIS WAS THE ONE.
DO YOU WANT TO GO THROUGH THAT OR DO YOU WANT TO JUST JUST VERY BRIEFLY, I'M NOT GOING TO GO THROUGH THE WHOLE THING.
I'LL JUST KIND OF TELL YOU WHY IT'S IN FRONT OF YOU TODAY.
THIS THIS COVERS A LOT OF THINGS, AND A LOT OF THINGS HAVE CHANGED SINCE YOU ADOPTED YOUR LAST POLICIES AND PROCEDURES.
FOR INSTANCE, DESHAUN AND I NOW REPORT TO THE CITY MANAGER AS OPPOSED TO THE BOARD.
AS CITY STAFF, THERE ARE DIFFERENT RULES THAT WE NOW HAVE TO FOLLOW.
WE MAY YOU MAY HAVE DONE IT IN THE PAST AS A COURTESY.
THOSE ARE POLICIES THAT WE LIVE BY ON A DAILY BASIS.
AND SO THIS DOCUMENT. I MAKE THINGS AS SHORT AS I POSSIBLY CAN AT EACH AREA IS VERY SUMMARIZED. IT GOES OVER EVERYTHING FROM THE FACT THAT OUR FINANCE DEPARTMENT HANDLES OUR FINANCIALS AND HOW THEY DO THAT.
WHAT SIGNATORY AUTHORITY I HAVE AND HOW I GET THAT SIGNATORY AUTHORITY TO HOW WE WOULD WORK A PROJECT. AND I'LL GIVE YOU AN EXAMPLE AND I WILL FOCUS ON THAT PART.
BECAUSE IT'S USUALLY OF INTEREST IS AN EXAMPLE IF IF I'M WORKING ON A PROJECT AND WE GET A LEAD, I RESPOND TO THE LEAD.
I HAVE A CONVERSATION WITH THE WITH THE PROJECT.
THEY SEEM INTERESTED. DID THEY WANT TO DO A VISIT? AND WE AN ECONOMIC DEVELOPMENT.
THE FIRST TIME WE CONTACTED COMPANY, THE GOAL IS NEVER TO WIN THE PROJECT.
[00:40:01]
THE. WHICH SOUNDS WEIRD.THE GOAL IS TO STAY ON THE LIST BECAUSE IT'S A LONG HAUL.
NOBODY EVER REACHES OUT TO FIVE COMMUNITIES AND SAYS, GIVE ME YOUR BEST. I SAY NOBODY.
VERY, VERY, VERY RARELY WOULD ANYBODY EVER REACH OUT TO 2 OR 3 COMMUNITIES AND SAY, GIVE ME YOUR BEST SHOT. WE'RE GOING TO MAKE A DECISION AND MOVE FORWARD. YOU'LL START LITERALLY COMPETING AGAINST 2 TO 500 CITIES.
IT'S USUALLY ABOUT A 200 MILE CIRCLE, AND SOMETIMES THERE ARE MULTIPLE CIRCLES BECAUSE THEY CAN DO IT IN DIFFERENT QUADRANTS OF THE UNITED STATES.
AND SO THERE ARE A LOT OF PEOPLE COMPETING WITH IT.
SO THE WAY IT'S WORDED HERE IS THAT WE HAVE AND I'VE SENT THIS THROUGH PREVIOUSLY.
I'M GOING TO SEND IT TO GRANT FOR HIM TO LOOK AT IT AGAIN OR LOOK AT IT HERE.
BUT WHAT I LIKE TO DO IS TO DO THE PRELIMINARY NEGOTIATING BEFORE I BRING IT TO THE BOARD, IF I HAVE TO BRING EVERY NEGOTIATION TO THE BOARD.
IT COULD TAKE YEARS. WE MEET ONCE A MONTH, OR WE'RE CONSTANTLY CALLING SPECIAL MEETINGS BECAUSE I MAY OFFER A AND THEY MAY OFFER BIG A LITTLE LAY BACK.
AND EVERY TIME THERE'S A CHANGE I'D HAVE TO CALL IT FORTH.
SO WHAT I DO IS I PUT TOGETHER A NONBINDING WE'LL GO BACK AND FORTH AND HAVE CONVERSATIONS. I'LL PUT TOGETHER A NON-BINDING OFFER LETTER, AND I'LL GIVE YOU AN EXAMPLE OF IT, BECAUSE I'VE BEEN USING IT FOR 12 YEARS AND IT IN MULTIPLE PLACES IN THE LETTER SAYING THIS IS NON-BINDING.
THIS IS WHAT I AM COMFORTABLE BRINGING TO THE BOARD AND CITY COUNCIL FOR APPROVAL TO ASK FOR THEIR APPROVAL. IF THEY COME BACK TO ME AND SAY, YOU KNOW WHAT, IF YOU CAN DO THAT, WE'RE ON.
I HAVE THEM SIGNED THAT LETTER.
THEN I BRING IT TO THE BOARD AND SAY, LOOK, THESE GUYS ARE HOOKED.
IF YOU KNOW, AT LEAST NOW YOU GOT A DECISION. IF YOU LIKE THE PROJECT, YOU SAY YES. IF YOU DON'T LIKE THE PROJECT, YOU SAY NO.
BUT AT LEAST WE HAVE A REALLY FIRM UNDERSTANDING OF HOW THE COMPANY FEELS AND THAT THEY'RE NOT JUST KICKING TIRES.
IF I BROUGHT EVERY TIRE KICKER TO THE BOARD, WE CONSTANTLY BE CALLING MEETINGS THAT WE DON'T NEED TO HAVE BECAUSE THERE'S A LOT OF THEM OUT THERE.
AND SO THE THE PROJECT WORKING PROCESS IS SOMETHING TO PAY ATTENTION IN THIS.
THE REST OF IT IS PRETTY STRAIGHTFORWARD.
AND AGAIN, IF YOU'RE COMFORTABLE APPROVING IT TONIGHT, FEEL FREE TO DO SO. IF YOU'RE NOT COMFORTABLE AND YOU WANT MORE TIME TO TO LOOK AT IT.
YOU'RE NOT GOING TO HURT MY FEELINGS ON THAT EITHER.
IT EVEN COVERS TRAINING, CONTINUING EDUCATION, THINGS LIKE THAT. SO WITH THAT, I'LL BE HAPPY TO ANSWER ANY QUESTIONS.
OKAY, SO I UNDERSTAND WHAT YOU'RE SAYING, THAT YOU WANT THE ABILITY TO BE FLEXIBLE, TO MOVE AND ACT ON WHAT YOU PERCEIVE FROM YOUR PROFESSIONAL OPINION TO BE A GOOD QUALITY. RECRUITMENT FOR THIS COMMUNITY IN TERMS OF THE BILL? YES, YES. AND QUITE HONESTLY, DIFFERENTIATE WHAT IS AND WHAT ISN'T.
BECAUSE THROUGHOUT THAT NEGOTIATION, GOING BACK AND FORTH FROM TIME TO TIME, THEY WILL SHOW THEIR HAND. AND I WILL REALIZE, FOR INSTANCE, I MAY BE NEGOTIATING WITH A COMPANY AND THAT COULD BE A YEAR INTO IT, AND THEN FIND OUT BY ACCIDENT THROUGH THE NEGOTIATION THAT THEY'RE NOT REALLY FUNDED.
YOU KNOW, WE'RE WE'RE NOT VENTURE CAPITALISTS.
WE'RE NOT HERE TO FUND PROJECTS.
WE'RE HERE TO MAKE OUR CITY A BETTER PLACE TO DO A PROJECT THAN ANOTHER CITY.
BUT WE'RE NOT HERE TO FUND COMPANIES.
AND NOW I SAY THAT THERE ARE INSTANCES WHERE I'VE DONE A SMALL BUSINESS INCUBATOR TYPE FUND, FUN. BUT YOU'RE NOT TALKING MILLIONS OF DOLLARS.
I MEAN, YOU. THERE ARE WAYS TO INVEST, AND, YOU KNOW, IT'S RISKY, BUT IT'S A SMALL ENOUGH DOLLAR AMOUNT TO WHERE IT'S NOT GOING TO KILL YOU.
FOR A MANUFACTURING CONCERN, IF THEY'RE NOT FUNDED, THEY'RE TALKING MILLIONS.
IT'S NOT OUR COMPANY. SO I WOULD PROBABLY BRING THAT TO THE BOARD AND TALK THROUGH IT WITH YOU. BUT THIS BASICALLY ENABLES ME TO DRILL TO THE BOTTOM AND FIND OUT, OKAY, WHAT'S GOOD, WHAT'S NOT.
AND HOW REASONABLE IS IT? BECAUSE THERE ARE SOME GOOD PROJECTS OUT THERE THAT ARE JUST SO UNREASONABLE.
QUITE HONESTLY, THEY SHOULD BE AGAINST THE LAW.
I MEAN, I'LL USE ONE OF MY FAVORITE EXAMPLES NEBRASKA FURNITURE, THE THE THAT WAS SUCH AN EGREGIOUS INCENTIVE DEAL THAT ECONOMIC DEVELOPERS ALL OVER THE STATE WENT TO AUSTIN LOBBYING AGAINST EVER ANYBODY EVER BEING ABLE TO DO THAT AGAIN.
IT'S THE ONLY TIME I'VE EVER SEEN THAT.
BUT THEY GAVE AWAY 100% OF THE ALL REVENUE STREAMS FOR 40 YEARS.
100% FOR 40 YEARS. THAT'S SALES TAX.
THAT'S PROPERTY TAX. THAT'S EVERYTHING ON THEM FOR 40 YEARS.
[00:45:04]
AND ECONOMIC DEVELOPERS LIKE YOU, HOW DO YOU HOW DO YOU DO THAT.YOU CAN'T. THEY DIDN'T GIVE THAT TO BASS PRO SHOPS.
NOW I WILL TELL YOU IN THE BIG PICTURE IT'S A GREAT ANCHOR.
IT HAS ATTRACTED A LOT OF OTHER BUSINESSES THAT ARE PAYING PROPERTY TAX AND SALES TAX.
BUT I THINK THE ISSUE WAS IT SETS A REALLY BAD PRECEDENT.
IT PUTS US IN A POSITION WITH A COMPANY WHERE THEY CAN SAY, I KNOW YOU CAN. THEY DID IT.
SO NOW YOU'RE TELLING ME I'M NOT AS GOOD AS NEBRASKA FURNITURE AND IT GOES DOWN THE WRONG ROAD? AND IT'S SOMETHING THAT I DON'T THINK THEY HAD TO DO, QUITE HONESTLY, BECAUSE I'VE NEVER HEARD OF ANYBODY DOING THAT BEFORE IN MY LIFE.
AND SO THERE ARE GOOD PROJECTS.
I MEAN, THERE'S GOT TO BE A POINT WHERE EVERYBODY SAYS, WE LOVE YOU AND WE'LL DO IT FOR THIS, BUT WE CAN'T DO IT FOR THAT.
I MEAN, IT IT HURTS THE COMMUNITY IF WE GIVE X AWAY.
AND AND THAT'S JUST AN A PORTION OF THAT DOCUMENT IS JUST THE FLOW OF PROJECTS.
IT GIVES ME AN OPPORTUNITY TO DO MY RESEARCH AND DO SOME NEGOTIATION AND GIVE A NON-BINDING OFFER TO THEM TO SEE IF THEY'RE GOING TO TAKE THE BAIT OR NOT.
BEFORE I GO BACK AND FORTH 100 TIMES WITH THE BOARD, I THINK PART OF THE PROBLEM, I MEAN, I THINK PART OF MY CONCERN IS THAT WE ARE NOT CONCERNED AS AN ECONOMIC DEVELOPMENT PROFESSION.
IT IS YOUR RESPONSIBILITY TO DETERMINE THAT.
AND I THINK THAT WE NEED TO GIVE YOU THE WHEREWITHAL TO GO AND MAKE WISE DECISIONS.
IF IN FACT, IT COMES BACK, THEN IT'S ON YOU.
RIGHT. NO, YOU'RE EXACTLY RIGHT.
AND NOT ALL COMMUNITIES, QUITE HONESTLY.
FULL DISCLOSURE, NOT ALL COMMUNITIES FEEL THAT WAY. BEFORE ANY NON-BINDING BINDING ANYTHING GOES OUT. THEY WANT IT TO GO THROUGH THE WHOLE PROCESS.
WELL, YOU'RE JUST NOT VERY PRODUCTIVE IN MY OPINION, IF YOU DO IT THAT WAY, BECAUSE YOU STOP THE PROCESS FOR A MONTH AND THEN THE FIRST OFFER IS NEVER THE FINAL OFFER.
AND SO IT TAKES 4 OR 5 MONTHS INSTEAD OF I MEAN, ONE OF THE PROUDEST MOMENTS OF MY ENTIRE CAREER IS WHEN WE ATTRACTED RAYTHEON TO MCKINNEY, AND WE USED THIS MODEL IN MCKINNEY WHEN WE ATTRACTED THEIR GLOBAL HEADQUARTERS TO MCKINNEY. WE HAD THE WHOLE THING DONE. IN 27 DAYS, THERE IS ZERO CHANCE WE COULD HAVE DONE THIS HAD WE BEEN OPERATING BY THE OTHER RULES, WHERE I HAD TO GO THROUGH THE PROCESS MULTIPLE TIMES BECAUSE WE'D BE NEGOTIATING AT TWO IN THE MORNING. I MEAN, THEY WERE IN A HURRY, WE WERE IN A HURRY, AND WE I CALLED TWO SPECIAL MEETINGS AND I WOULD HAVE HAD TO CALL 12. SO THANK YOU FOR THAT COMMENT.
I AGREE WITH YOU, BUT NOT EVERYBODY FEELS THAT WAY.
AND WE DON'T IT'S NOT A TREMENDOUS SENSE OF URGENCY, SO WE DON'T HAVE TO VOTE ON IT TONIGHT IF ANYBODY'S UNCOMFORTABLE.
BUT IF WE'RE GOOD WITH IT, THEN WE JUST NEED A MOTION AND A SECOND.
I'LL MAKE A MOTION TO APPROVE THE REVISED EDC POLICIES.
AND THAT WAS APPROVED FIVE ZERO.
THANK YOU. AND WE'LL MOVE TO EXECUTIVE SESSION.
[K. EXECUTIVE SESSION]
EXECUTIVE SESSION IN ACCORDANCE WITH CHAPTER FIVE FIVE, ONE OF THE TEXAS GOVERNMENT CODE, THE ECONOMIC DEVELOPMENT CORPORATION MAY ENTER INTO CLOSED SESSION OR EXECUTIVE SESSION TO DISCUSS ANY OF THE FOLLOWING.SECTION 551.071 TEXAS GOVERNMENT CODE CONSULTATION WITH THE CITY ATTORNEY.
TEXAS GOVERNMENT CODE 551.072.
DISCUSSION OR DELIBERATION OR DELIBERATE? THE PURCHASE, EXCHANGE, LEASE OR VALUE OF REAL PROPERTY.
WE HAVE PROJECT KEY AND PROJECT FIRST UNDER THAT THEN TEXAS GOVERNMENT CODE 551.087 DISCUSS OR DELIBERATE ECONOMIC DEVELOPMENT NEGOTIATIONS.
AND WE HAVE PROJECT HARVARD PROJECT KEY AND PROJECT SAFETY UNDER THERE.
THEN ALSO REFER BACK TO ITEM ON THE AGENDA J1.
WE'LL HAVE SOME UPDATE ON THAT'S 2025-010.
WE'LL HAVE UPDATES ON PDC PROJECTS AS WELL.
AND IT'S 654 AND WE'LL MOVE TO EXECUTIVE SESSION.
[00:50:01]
ALL RIGHT. IT'S 735. WE RETURNED FROM EXECUTIVE SESSION AND THERE IS NO ACTION TO BE TAKEN FROM EXECUTIVE SESSION.SO I JUST NEED A MOTION FOR ADJOURNMENT IN A SECOND.
I'LL MAKE A MOTION FOR ADJOURNMENT.
SECOND. THANK. YOU GONNA PUT A VOTE? JEEZ. OKAY, OKAY. AND THAT PASSES FIVE ZERO.
WE'RE ADJOURNED.
* This transcript was compiled from uncorrected Closed Captioning.