[00:00:02]
>> WE'LL CALL TO ORDER THE ECONOMIC DEVELOPMENT CORPORATION MEETING TUESDAY,
[A. CALL TO ORDER]
JULY 8, 2025 AT 6:27.WE'LL START WITH ROLL CALL, MIKE THOMPSON PRESENT, JAMES MILLER, ABSENT, AND MARCUS BINGHAM, ABSENT, ALBERT LOTT.
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 WORK TOGETHER WITH INTEGRITY, VISION, AND PURPOSE, BLESSING OUR CITY, OUR BUSINESSES, AND ALL OF THOSE THAT CALL PRINCETON HOME.
WE'LL MOVE TO PUBLIC APPEARANCE.
MEMBERS OF THE PUBLIC ARE ALLOWED THREE MINUTES TO SPEAK.
THE 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 EXISTING POLICY IN RESPONSE TO ANY INQUIRY.
>> WE'LL MOVE TO PUBLIC REPORT ITEMS.
[F. PUBLIC REPORT ITEMS]
OUR NEXT REGULAR MEETING OF THE PDC IS TUESDAY, AUGUST 15, 2025 AT 6:00 PM.NEXT REGULAR PCDC MEETING IS WEDNESDAY, AUGUST 16, AT 6:00 PM.
CITY COUNCIL MEETINGS, MONDAY, JULY 14 AT 6:30 AND JULY 28 AT 6:30.
OPEN HOUSE FOR CITY OF PRINCETON COMPREHENSIVE PLAN AND PARKS AND TRAILS MASTER PLANNING, JULY 16, 2025, 5:30-7:30 AT STEVENS AND JUDY DEFFIBAUGH COMMUNITY CENTER.
WE WILL MOVE FROM THERE TO THE STAFF REPORT ITEMS.
[G. STAFF REPORT ITEMS]
OUR CEO WILL PRESENT THE OPERATIONAL UPDATE AND FINANCIAL REPORT.>> GOOD EVENING. FIRST OFF, MR. CHAIRMAN, AND BOARD MEMBERS, NUMBER 4 ON THAT LIST THAT YOU JUST READ OUT AS FAR AS PUBLIC REPORT ITEMS, THE OPEN HOUSE.
I WOULD STRONGLY ENCOURAGE ANY AND ALL BOARD MEMBERS THAT CAN MAKE IT THAT NIGHT.
THE CITY WOULD LOVE TO HAVE YOUR INPUT.
IT'S 5:30-7:30. IT'S A COME-AND-GO.
YOU DON'T HAVE TO BE THERE THE WHOLE 2 HOURS.
BUT VERY IMPORTANT THAT WE GET PEOPLE THAT ARE ENGAGED LIKE YOURSELVES THAT ARE UP WITH WHAT'S GOING ON TO GIVE US INPUT ON THE FUTURE OF PRINCETON, AND THAT'S LITERALLY WHAT WE'RE TALKING ABOUT.
THE CITY'S COMPREHENSIVE PLAN IS GOING TO INCLUDE OUR FUTURE LAND USE MAP.
BASICALLY, IT'S A CITY'S STRATEGIC PLAN MOVING FORWARD.
I'D LOVE TO HAVE YOUR INPUT ON THAT.
AGAIN, THAT IS ON 16TH JULY, FROM 5:30 TO 7:30 AT THE COMMUNITY CENTER.
THEY ARE STILL WORKING ON THE COMMUNITY CENTER, BUT THEY ARE GOING TO BE VACATING BY THIS FRIDAY, I BELIEVE.
IT WON'T BE COMPLETELY FINISHED.
THERE'S A COUPLE ADA THINGS WE'VE GOT TO DO, SO WE'RE NOT CALLING IT A GRAND OPENING, BUT IT WILL BE COMPLETE ENOUGH TO HAVE THIS EVENT.
YOU'LL ALSO GET TO SEE THAT AS WELL, WHICH I THINK YOU'LL ENJOY SEEING.
>> THERE MIGHT BE ONE CORRECTION ON THE DATES, TOO, FOR THE PDC AND CDC.
THE 15TH OF AUGUST IS FRIDAY AND THEN 16TH SATURDAY, SO WE PROBABLY WOULD MOVE THOSE BACK TO 12TH AND 13TH.
>> THIS SHOULD BE THE 12TH AND 13TH CORRECT FOR THE PDC AND CDC MEETINGS FOR AUGUST, BECAUSE RIGHT NOW IT'S ON FRIDAY AND SATURDAY, THE 15TH AND 16TH.
IT IS ACTUALLY THE 19TH AND 20TH.
IT'S THE THIRD TUESDAY AND WEDNESDAY.
THAT WOULD BE AUGUST 19TH AND 20TH, NOT 15TH AND 16TH. APOLOGIES ON THAT.
ADDITIONALLY, IT IS REQUIRED IF YOU'RE GOING TO HAVE ACCESS TO CITY SERVERS,
[00:05:05]
YOU'RE REQUIRED TO TAKE A CYBERSECURITY TRAINING.THAT IS A MANDATORY THING HAS TO BE COMPLETED BY THURSDAY, AUGUST 21ST, OR YOU WILL LOSE ACCESS TO YOUR EMAIL.
DE SHANER, HAVE WE EMAILED THEM A LINK TO THAT OR?
>> WE DID CONFIRM THE MEETINGS, CORRECT.
DE SHANER THE 19TH AND 20TH, NOT THE 15TH.
I WILL QUICKLY GO OVER THE BUDGET REPORT, AND I SAY QUICKLY BECAUSE WE SPENT VERY LITTLE MONEY THIS MONTH IS BASICALLY SALARIES AND DEBT SERVICE.
WE SPENT A TOTAL OF UNDER $90,000.
$75,000 OF THAT WAS DEBT SERVICE THAT IS TAKEN OUT ONCE A YEAR.
IF THE BOARD REMEMBERS WE HAD MISSED YEARS, SO WE ACTUALLY PAID TWO DEBT SERVICES THIS YEAR.
OTHER JUST VERY VERY MINOR EXPENDITURES.
$1,400 FROM MARKETING IS THE ONLY THING OTHER THAN DEBT SERVICE AND PAYROLL.
THEN THE REALLY GOOD NEWS IS ON THE BALANCE SHEET.
WE'RE LOOKING AT ABOUT 9.5 MILLION DOLLAR.
NOW, KEEP IN MIND THAT THE REST OF THIS YEAR'S BUDGET WOULD COME OUT OF THAT, WHATEVER WE SPEND.
FOR THE REST OF THIS YEAR, WE WILL NOT SPEND THE ENTIRE BUDGET, SO WE WILL HAVE A HEALTHY RETAINED EARNINGS AFTER THIS FISCAL YEAR, BUT WE'LL BE TALKING ABOUT SOME THINGS THAT MIGHT HELP WITH THAT.
ONCE AGAIN, I'VE INCLUDED OUR BUILDING PERMITS LIST OF BUILDING PERMITS.
WE ARE ON PACE YOU WRITE AT 2,000 RESIDENTIAL PERMITS AGAIN THIS YEAR THAT BASICALLY FOR US EQUATES TO ROUGHLY 6,100 PEOPLE.
3.07 PEOPLE PER DWELLING UNIT AVERAGE, ACCORDING TO THE CENSUS HERE.
WE ARE CONTINUING TO GROW RAPIDLY.
I WILL SAY THAT THE STATE IN THEIR INFINITE WISDOM HAS PASSED A NEW LAW THAT IS GOING TO FORCE, AND I'LL LET GRANT EXPAND ON THIS, BUT IT'S GOING TO FORCE THE CITY OF PRINCETON OUT OF OUR MORATORIUM IN DECEMBER AND NOT ALLOW US TO CALL ANOTHER MORATORIUM FOR AT LEAST TWO YEARS. GRANT, DO YOU WANT TO?
>> YEAH, I THINK THAT'S WELL SAID.
PREVIOUSLY, FOR RESIDENTIAL MORATORIUMS, YOU COULD EXTEND IT JUST AS MANY TIMES AS LONG AS THE PROBLEM STILL EXISTS, AND YOU'RE MAKING REASONABLE PROGRESS, IT COULD BE PERIODS OF 120 DAYS, 360 DAYS, ETC.
BUT FOR COMMERCIAL, YOU ARE ALWAYS CAPPED AT 180 DAYS.
NOW MOVING FORWARD, THE NEW LAW APPLIES THE CAP TO BOTH COMMERCIAL AND RESIDENTIAL.
IT'S ESSENTIALLY AND THAT TAKES EFFECT IN SEPTEMBER, SO THE MORATORIUM CAN ONLY GO UP THROUGH NOVEMBER 30.
>> I THINK WE WERE THE ONLY CITY CURRENTLY IN A RESIDENTIAL MORATORIUM IN TEXAS, WEREN'T WE? THAT WAS THE PRINCETON LAW.
>> YEAH, AT LEAST THE MOST IMPACTFUL IN A MORATORIUM.
THERE MAY BE OTHERS OUT THERE, BUT CERTAINLY THE MOST IMPACTFUL.
>> ONE LAST THING THAT I WILL TOUCH ON VERY BRIEFLY IS OUR SALES TAX.
WE WERE UP 8%. THIS PAST MONTH PUTS US UP 12% YEAR TO DATE.
WE'RE UP JUST UNDER $140,000 AHEAD OF WHERE WE WERE AT THE SAME POINT LAST YEAR.
OBVIOUSLY, GOOD NEWS AS WE START DEVELOPING OUT SOME OF THIS RETAIL.
THEY HAVE MORE OPTIONS TO SHOP HERE LOCALLY THAN THAT NUMBER, WE'LL START SEEING SIGNIFICANT INCREASES.
BUT UNTIL THEN, IT WILL, I THINK, GENERALLY FOLLOW OUR POPULATION GROWTH AS WE ADD MORE DISPOSABLE INCOME, THEY'LL BE SHOPPING AT ROUGHLY THE SAME PLACES, BUT YOU WILL BE ADDING SALES TAX DOLLARS TO THE POOL.
WITH THAT, I'LL BE HAPPY TO ANSWER ANY QUESTIONS.
[00:10:06]
ARE YOU LAUGHING AT ME OR ARE YOU LAUGHING AT NO QUESTION? [LAUGHTER] IT COULD GO EITHER WAY WITH ME, SO I'M NOT OFFENDED.>> WE'LL MOVE TO THE BOARD REPORT ITEMS. PDC BOARD OF DIRECTORS REPORT ABOUT ITEMS OF COMMUNITY INTEREST IN WHICH NO ACTION WILL BE TAKEN.
DOES ANYBODY HAVE ANYTHING? GOOD. MOVE TO THE CONSENT AGENDA.
[I. CONSENT AGENDA]
ALL CONSENT AGENDA ITEMS LISTED ARE CONSIDERED TO BE ROUTINE BY THE PDC 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 AND FROM THE CONSENT AGENDA AND CONSIDERED DURING ITS NORMAL SEQUENCE ON THE AGENDA.
WE HAVE THE MINUTES, DISCUSSION AND ACTION REGARDING THE MINUTES FROM THE PDC'S JUNE 2ND, 2025 REGULAR MEETING, AND PDC FINANCIAL STATEMENT, DISCUSSION AND ACTION REGARDING THE PDC'S FINANCIAL STATEMENT, AND I'LL NEED A MOTION OF THE SECOND, AND WE CAN VOTE.
>> MR. CHAIR, I'LL MAKE THE MOTION TO APPROVE THE MINUTES FROM THE JUNE 2ND, 2025, REGULAR MEETING AND THE FINANCIAL STATEMENT.
>> [BACKGROUND] THAT PASSES UNANIMOUSLY.
ALL FOUR OF US VOTED IN FAVOR.
THEN WE'LL MOVE TO [NOISE] THE REGULAR AGENDA ITEMS 2025-015,
[K. REGULAR AGENDA ]
THE CHAMBER OF COMMERCE, DISCUSSION AND ACT REGARDING AVAILABLE SPONSORSHIP OPTIONS WITH THE PRINCETON LOWRY CROSSING CHAMBER OF COMMERCE, PRESENTED BY BETH WITH THE PRINCETON LOWRY CROSSING CHAMBER OF COMMERCE.>> GOOD EVENING, MR. CHAIR AND BOARD MEMBERS.
I'M BETH WILLHITE, PRESIDENT, CEO OF THE PRINCETON LOWRY CROSSING CHAMBER OF COMMERCE.
I APPRECIATE THE OPPORTUNITY TO BE WITH YOU ALL TONIGHT AND SHARE SOME THINGS THAT ARE GOING ON WITH THE CHAMBER AND JUST HOW WE CAN MOVE FORWARD TOGETHER.
FIRST OF ALL, I WANT TO LET YOU KNOW, I STEPPED INTO THIS POSITION IN NOVEMBER.
CHRISTIE WENT TO THE FARMERSVILLE CHAMBER.
I APPLIED FOR, WAS INTERVIEWED FOR THIS POSITION.
IN APRIL, I WAS ABLE TO ADD TO OUR STAFF, LISA BRADLEY, WHO IS WITH ME THIS EVENING.
SHE'S A PRINCETONIAN, SO IT'S NICE TO HAVE HER PERSPECTIVE ON WHERE PRINCETON USED TO BE, AND JUST LOOK FORWARD TO WHERE PRINCETON IS HEADED.
I WANT TO THANK YOU FOR YOUR CONTINUED PARTNERSHIP WITH THE CHAMBER.
AS EXECUTIVE PARTNERS, YOU ALL SHOW THE BUSINESS COMMUNITY THAT YOU BELIEVE IN WHAT THEY ARE DOING, AND WE APPRECIATE THAT VERY MUCH.
YOU'VE TAKEN ADVANTAGE OF MOST OF YOUR BENEFITS.
SOME OF YOU WERE ABLE TO ATTEND THE ANNUAL BANQUET AT CASINO NIGHT.
IT'S A GOOD NIGHT TO NETWORK WITH OTHER BUSINESS OWNERS.
YOU ALSO HAVE A TEAM IN THE GOLF TOURNAMENT, IF ANYBODY'S EVER AVAILABLE TO ATTEND THAT.
THERE'S JUST ONE OTHER LEVEL ABOVE YOU ALL, WHICH THERE ARE MORE PERKS, OF COURSE, WITH EACH LEVEL AS YOU GO AND THEN JUST ADDED BENEFIT OF LETTING THE BUSINESS COMMUNITY KNOW THAT YOU SUPPORT AND YOU'RE BEHIND WHAT WE DO TOGETHER.
SOME EVENTS THAT I WOULD LIKE TO MAKE SURE YOU KNOW ABOUT AS CHAMBER MEMBERS.
WE DO HAVE A MONTHLY NETWORKING LUNCH AND LEARN, EVERY SECOND WEDNESDAY, A BUSINESS AND BREAKFAST, WHICH IS EVERY THIRD TUESDAY.
WE'RE TRYING TO DO BUSINESS AFTER HOURS ONCE A QUARTER, BUT THESE ARE JUST OPPORTUNITIES FOR YOU ALL TO MEET THE BUSINESS OWNERS HERE IN PRINCETON FOR THEM TO GET TO KNOW YOU ALL.
ANY GRAND OPENING RIBBON CUTTING CELEBRATION THAT WE HAVE, WE WOULD LOVE TO SEE YOU IF YOU'RE ABLE TO ATTEND.
IT'S A PRETTY BIG DEAL TO START A BUSINESS AND OPEN A BUSINESS, AND JUST TO HAVE YOUR SUPPORT, AS FELLOW PRINCETONIANS, BUT THEN JUST TO SHOW THEM THAT WE'RE BEHIND THEM TOGETHER WOULD BE APPRECIATED AS MUCH AS YOU CAN.
WAYS THAT THE CHAMBER IS INVOLVED IN THE COMMUNITY.
WE PARTNERED WITH THE CITY AT THE DAY OF PURPOSE, AND WE WERE AT THE EARTH DAY CLEANUP, WANT TO MAKE PRINCETON LOOK BEAUTIFUL.
WE TRIED TO ATTEND THE MEMORIAL DAY SERVICE VETERANS DAY SERVICES HERE IN PRINCETON.
VERY PROUD OF THE CEMETERY FOR RECEIVING THEIR HISTORICAL MARKER.
THAT WAS YEARS OF WORK THAT THEY PUT INTO THAT, AND THEY HAD ASKED THE CHAMBER TO HELP SPONSOR SOME REFRESHMENTS.
ONE OF OUR CHAMBER MEMBERS BROUGHT FANS, WHICH WERE VERY MUCH APPRECIATED THAT DAY, AS IT ENDED UP BEING PRETTY WARM.
[00:15:01]
[LAUGHTER] BUT WE WERE JUST PROUD THAT WE MADE THIS HISTORICAL MARKER MOMENT FOR THEM.WE GIVE BACK TO THE COMMUNITY THROUGH TOYS FOR TOTS AND THE PRINCETON ISD ANGEL TREE.
WE'RE PART OF THE LIONS CLUB, AND SEVERAL OF OUR BUSINESSES WERE AT THE ONION FESTIVAL, SO WE WERE EXCITED TO SUPPORT THEM.
WE ALSO HELP WITH PLACING FLAGS AT OUR CEMETERY FOR OUR VETERANS ON MEMORIAL DAY AND VETERANS DAY.
THE SCHOLARSHIP WITH PRINCETON ISD.
I CAN'T DO ANY OF THESE THINGS BY MYSELF, BUT AS A COLLECTIVE ORGANIZATION AND COMMUNITY, WE'RE ABLE TO MAKE A LOT OF THINGS HAPPEN.
OUR THREE BIG EVENTS WILL INCLUDE THE BACK-TO-SCHOOL BASH.
SOME OF YOU MAY HAVE ATTENDED THAT BEFORE.
YOU ALL DID SUPPORT THAT LAST YEAR BY GIVING $5,000 TO THAT EFFORT.
AS YOU CAN SEE, WE HAD OVER 3,000 PEOPLE ATTEND A TWO-HOUR EVENT.
WE GAVE AWAY ALL 2,000 BACKPACKS.
I'M ONE OF OUR CHAMBER MEMBERS, PRINCETON FAMILY EYE CARE.
THEY DID OVER 150 FREE VISION SCREENINGS THAT DAY.
ANOTHER CHAMBER MEMBER, SPORT CLIPS, ALONG WITH THE KATE CENTER DID OVER 120 FREE HAIRCUTS.
LIKE I SAID, I CAN'T DO ANY OF THIS ALONE.
COLLECTIVELY, WE HAD OVER 40 DONORS THAT RAISED $15,000, AND WE WERE ABLE TO HELP OUR FAMILIES IN A HUGE WAY.
MANY PEOPLE STOPPED BY AND SAID, THANK YOU.
BUT I APPRECIATE HOW YOU ALL SUPPORTED THAT EFFORT AND HOPE YOU WILL CONTINUE TO DO THAT.
IF YOU'VE NEVER BEEN DRIVE BY.
[LAUGHTER] IF YOU DON'T WANT TO JUST APPROACH THE MADNESS BECAUSE, LIKE I SAID, THERE WAS OVER 3,000 PEOPLE THAT CAME THROUGH SOUTHARD MIDDLE SCHOOL IN A SPAN OF 2 HOURS.
IT'S AN EXCITING DAY. IT'S A LITTLE CRAZY.
BUT ANOTHER BIG EVENT IS OUR GOLF TOURNAMENT.
AS A CHAMBER MEMBER, YOU ALL HAVE A GOLF TEAM.
I KNOW YOU MAY WORK, BUT IF YOU COULD PUT IT ON YOUR CALENDAR TO BE A PART OF THAT DAY, IT IS A FUN EVENT, OR IF YOU JUST WANT TO COME HANG OUT WE'RE AT OCALA GOLF COURSE IN MCKINNEY, BUT WE LOVE TO HAVE YOU ALL.
>> WE WILL BE FILLING OUR TEAM THIS YEAR.
LIKE I SAID, THAT MENTIONED EARLIER, YOU HAVE A TABLE AT THE ANNUAL BANQUET AND CASINO NIGHT, WHICH ALREADY HAPPENED THIS YEAR, BUT WE'RE ALREADY LOOKING AT NEXT YEAR.
I'LL BE THE LAST FRIDAY OF FEBRUARY.
JUST A FUN EVENING TO GET TOGETHER WITH OTHERS AND I HOPE YOU'RE ABLE TO BE THERE AT THAT.
THE BUSINESS CENTER, WHICH IS UNDER THE PRINCETON LOWRY CROSSING CHAMBER FOUNDATION, IS WHERE THE CHAMBER OFFICE IS HOUSED.
WE ALSO ARE COMPLETELY FULL AT THIS MOMENT.
WE HAVE SIX OTHER BUSINESSES THAT LEASE OFFICE SPACE THERE.
FOUR OF THOSE BUSINESSES WERE BROUGHT TO PRINCETON BECAUSE OF THIS FACILITY.
THESE ARE SMALLER BUSINESSES THAT ARE ABLE TO LEASE THIS SPACE WITH THE POTENTIAL OF GROWING AND ALLOWING THE BABY BIRD TO LEAVE THE NEST, SO TO SPEAK, BUT IT JUST ALLOWS THEM TO START IN A SMALLER SPACE WITH THE GOAL OF MOVING FORWARD AND CONTINUING TO GROW.
THEY ARE MEMBERS OF THE CHAMBER AS WELL, AND SO WE GET TO SEE THEM ON A DAILY BASIS AND SUPPORT THEM.
IT'S JUST GOOD TO HAVE THESE LOCAL BUSINESSES RIGHT HERE IN PRINCETON.
YOU MAY HAVE A BUSINESS OR A NONPROFIT.
WE WOULD LOVE TO HAVE YOU JOIN THE CHAMBER AS A MEMBER ON YOUR OWN MERIT.
OPPORTUNITY TO NETWORK WITH ONE ANOTHER.
WE WERE NOT CREATED TO DO LIFE [NOISE] ALONE, AND NEITHER ARE BUSINESSES MADE TO DO BUSINESS ALONE.
YOU MAY NOT HAVE THE SAME BUSINESS AS SOMEONE ELSE, BUT IF THEY'VE GONE BEFORE YOU, THEY CAN HELP ENCOURAGE YOU OR DON'T EVER DO THAT AGAIN OR [LAUGHTER] WHATEVER YOU MAY NEED IN THAT PARTICULAR TIME.
IF YOU DO NOT RECEIVE OUR NEWSLETTER, WE SEND OUT AN E-MAIL NEWSLETTER, THE FIRST BUSINESS DAY OF EVERY MONTH.
YOU CAN SCAN THAT QR CODE, AND WE WILL GET YOU ON OUR NEWSLETTER LIST OR FEEL FREE TO LET US KNOW.
JUST SO YOU KNOW WHAT'S GOING ON WITH THE CHAMBER AND CAN SEE WHAT EVENTS ARE COMING UP, WHAT BUSINESS ARE JOINING THE CHAMBER OR COMING TO PRINCETON AND JUST DIFFERENT WAYS THAT WE CAN PARTNER TOGETHER.
IF YOU HAVE ANY QUESTIONS FOR ME, I'LL BE.
>> BETH, AREN'T YOU GUYS ABOUT TO KICK OFF A REALLY COOL APPRENTICESHIP PROGRAM FOR OUR KIDS IN ISD?
>> WE ARE GETTING READY TO KICK OFF A REALLY COOL APPRENTICESHIP PROGRAM.
WE WERE ABLE TO COMBINE FORCES WITH THE PRINCETON ISD AND THE PRINCETON CDC, AND A LOT OF THINGS. VERY EXCITING.
LOOKING INTO THAT, AND AGAIN, CAN'T DO THIS ALONE, BUT TOGETHER, WE CAN DO A LOT OF REALLY GREAT THINGS.
YES, THANK YOU FOR BRINGING THAT UP.
[00:20:01]
>> THANK YOU ALL FOR DOING IT. [LAUGHTER] I THINK TONIGHT, AND WE'LL HAVE OTHER OPPORTUNITIES THROUGHOUT THE YEAR.
THEY'LL HAVE THINGS THAT COME UP THAT THEY MAY LOOK FOR PARTNERSHIPS WITH.
I THINK THE BACK TO SCHOOL BASH, AND QUITE HONESTLY, OUR MEMBERSHIP DOESN'T RENEW UNTIL DECEMBER.
>> I WOULD RECOMMEND TO THE BOARD THAT WE GO TO THE HIGHEST LEVEL OF MEMBERSHIP, AND I WOULD PRO RATE IT AND BUY IT IN FOR THE REST OF THIS YEAR, AND THEN JUST GO INTO 5,000 NEXT YEAR, AND THEN I WOULD RECOMMEND OR ENCOURAGE THE BOARD TO CONSIDER CONTINUING TO DO THE BASH AT THE SAME $5,000.
AS FAR AS TONIGHT GOES, I THINK, AND THAT WILL ALL COME OUT OF OUR MARKETING FUND, AND THAT'S HOW WE CAN LEGALLY DO IT AS OUT OF OUR MARKETING FUND IN SUPPORT OF THE CHAMBER AND SMALL BUSINESSES.
I WON'T PROMISE YOU THAT THAT'S THE LAST TIME WE'LL SUPPORT ANYTHING ELSE THIS YEAR THROUGH THE CHAMBER, BUT I THINK THOSE TWO ARE THE MOST URGENT.
BACK TO SCHOOL BASH, YOU'RE GETTING DONE ON DEADLINE TO KNOW IF YOU'VE GOT THE SUPPORT.
THEN QUITE HONESTLY, TO ME, I WOULDN'T WAIT TILL DECEMBER.
I'D LOVE TO MOVE UP TO THE LOWRY CROSSINGS.
MUNICIPAL DEVELOPMENT DISTRICT IS ONE OF THE BIGGEST MEMBERS.
I THINK WE PROBABLY OUGHT TO MATCH THEM.
>> GAUNTLET HAS BEEN THROWN, GENTLEMEN.
>> ANY QUESTIONS OR THOUGHTS THAT YOU GUYS HAVE?
>> YES. HOW CAN THE PUBLIC FIND YOU GUYS, ONLINE, SOCIAL MEDIA PRESENCE, ANYTHING LIKE THAT?
>> WE HAVE A WEBSITE. WE ARE ON FACEBOOK.
THAT'S ABOUT WHAT WE CAN [LAUGHTER] HANDLE, AND OF COURSE, OUR OFFICES ARE RIGHT THERE ON 380, SO WE HAVE PEOPLE ACTUALLY STILL COMING LOOKING FOR YOU ALSO.
>> THAT ALONE IS WORTH THE MEMBERSHIP BECAUSE THEY'RE ANOTHER ONE OF OUR COMPLAINT DEPARTMENTS WITH THE CITY.
[LAUGHTER] THEY ASSIST WITH EDUCATING THE PUBLIC.
I THINK WE NEED TO BE ALL IN FOR OUR COMMUNITY, BUT FOR THE RECORD, SINCE YOU'RE HERE, WILL YOU EXPLAIN THE DIFFERENCES BETWEEN THE LEVEL WE'RE AT NOW AND WHAT WOULD BE INVOLVED?
>> CAN YOU BACK IT UP TO SHOW ON.
IT MAY HAVE BEEN ON THE SCREEN BEHIND ME.
IN THE MAGAZINE, YOU WERE GIVEN A RESOURCE RELOCATION GUIDE.
IN THE BACK, THERE IS A PAGE THAT SHOWS YOU ALL OF OUR MEMBERSHIP LEVELS.
BUT BASICALLY, FROM WHERE YOU ARE, YOU WOULD HAVE AN OPTION TO PUT A TWO PAGE ARTICLE IN THAT MAGAZINE, WHICH, SINCE PRINCETON IS THE FASTEST GROWING CITY IN THE NATION, I'M SURE YOU ALL HAVE THINGS THAT YOU WOULD LIKE TO SHARE.
THAT MAGAZINE IS PUT IN ALL OF OUR WELCOME NEW RESIDENT WELCOME BAGS THAT WE BRING HERE TO PRINCETON.
WE TAKE TO MILLIGAN WATER AND CULLEOKA WATER.
WE ALSO HAVE PEOPLE STOP BY THE OFFICE WEEKLY, IF NOT DAILY LOOKING FOR SOMETHING, AND THEY'RE GIVEN A BAG, SO THAT MAGAZINE IS IN THERE AS WELL.
YOU CAN USE THE BUSINESS CENTER, IF YOU ALL WOULD LIKE TO HOST A COUPLE OF BUSINESS AFTER HOURS EVENTS.
YOU WOULD RECEIVE TOP PARTNER RECOGNITION AT ALL OF OUR EVENTS.
GOLF TOURNAMENT, YOU'RE ON THE BANNER.
AT THE ANNUAL BANQUET AND CASINO NIGHT, YOU WOULD ALSO BE ON THAT BANNER, AND THERE MAY BE SOME OTHER THINGS.
WE'RE CONSTANTLY LOOKING AT THE MEMBERSHIP TIERS BECAUSE WHY WOULD A MEMBER RENEW AT SAID LEVEL? WE'RE LOOKING AT OTHER BENEFITS.
I THINK FOR YOU ALL, THE BIGGEST ONE WOULD JUST BE TO SHOW THE BUSINESS COMMUNITY, BELIEVE IN WHAT THEY'RE DOING.
>> DO YOU KNOW WHAT THE DIFFERENCE WE'RE ASKING FOR? THAT'S $5,000 WE NEED TO.
>> IT'S $2,000 IF WE'RE HALFWAY THROUGH.
WE WOULD ADD 2,000 FOR THE REST OF THIS YEAR TO DECEMBER, AND THEN AND THEN THE BACK TO SCHOOL BASH.
I DON'T KNOW WHY I SAID BACKPACK, WOULD BE 5,000.
THE MEMBERSHIP THIS YEAR WOULD BE 2,000.
WE DO THAT OUT OF MARKETING, AND WE WOULD JUST UPGRADE OUR MEMBERSHIP FOR THE REST OF THIS YEAR TO THAT LEVEL, AND THEN STARTING NEXT YEAR, IT WOULD BE 5,000 AS LONG AS THEY KEEP THEIR PRICE AT 5,000.
>> THANK YOU FOR COMING AND LAYING THAT ALL OUT.
I AGREE WITH WHAT MICHAEL WAS SAYING THAT IT'S A GOOD IDEA, AND OBVIOUSLY, WE DID THE BACK TO SCHOOL BASH LAST YEAR.
ATTORNEY LOWRY, DO WE NEED TWO MOTIONS FOR THIS OR JUST A TOTAL AMOUNT TO APPROVE IT.
>> NOW, I THINK IT COULD BE ALL IN ONE MOTION AS LONG AS YOU'RE SPECIFIC ENOUGH.
>> DOES ANYBODY HAVE ANY OTHER QUESTIONS?
[00:25:01]
>> REMIND ME HOW MUCH DID WE DO TOWARDS BACK TO SCHOOL BASH LAST YEAR?
>> WHEN IS THE BACK TO SCHOOL BASH? I DIDN'T SEE IT.
>> I DIDN'T SAY. IT'S ON THERE, BUT I DIDN'T SAY.
JULY 26TH FROM 9:00 TO 11:00 AT SOUTHARD MIDDLE SCHOOL.
>> ALL WE NEED IS A MOTION. I WILL MAKE A MOTION TO, WHAT'S THE WORD, I GUESS.
>> UPGRADE OUR MEMBERSHIP FOR THE REMAINDER OF THIS YEAR.
THEN I'LL ALSO ADD TO THAT THE MOTION TO RENEW OUR SUPPORT FOR THE BACK TO SCHOOL BASH IN THE SAME DOLLAR AMOUNT THAT WE DID LAST YEAR.
>> THANK YOU VERY MUCH. I APPRECIATE IT.
>> THANK YOU SO MUCH FOR THE SMALL BUSINESSES HERE THAT WE DON'T HAVE THE OPPORTUNITY TO TOUCH AND WORK WITH.
THAT'S MONEY EXTREMELY WELL INVESTED.
AS A SIDE NOTE, WHEN I VERY FIRST STARTED MY CAREER, I WAS ACTUALLY A CHAMBER EXECUTIVE AND I ALSO RAN THE EDC IN TOURISM IN A SMALL TOWN.
THEY DO GOOD WORK. THEY WORK HARD AND THEY DON'T GET A LOT OF RECOGNITION, SO WE APPRECIATE IT.
>> THANK YOU ALL. WE'LL MOVE TO AGENDA ITEM 2025-016, BDC PUBLIC HEARING AND BUDGET APPROVAL; CONDUCT A PUBLIC HEARING AND CONSIDER DISCUSSION AND ACT ON THE APPROVAL OF THE PRINCETON EDC FY '25/'26 BUDGET AND RECOMMENDING TO CITY COUNCIL ITS FINAL APPROVAL.
>> DO YOU HAND THOSE OUT OR ARE YOU PUTTING IT UP TO ASHANA?
>> WE TALKED ABOUT THIS LAST MONTH, AND WE NEED TO STAY ON THE CITY'S SCHEDULE AND GET IN THEIR BUDGET BOOK, APPROVE OUR ANNUAL BUDGET.
WE'RE CURRENTLY IN FISCAL YEAR '24-'25.
AGAIN, OUR FISCAL YEAR RUNS OCTOBER 1ST TO SEPTEMBER 30TH EACH YEAR.
THE FIRST EIGHT CATEGORIES ARE INCREDIBLY BROKEN DOWN WAGES AND BENEFITS.
THAT'S ALL EMPLOYEE COST, INCLUDING OUR UNEMPLOYMENT TAXES, OUR TMRS BENEFITS, WORKERS COMP, THE WHOLE NINE YARDS.
THEN WE GO DOWN TO OPERATING EXPENSES.
I'M ONLY ASKING FOR 50 BETWEEN THE TWO CORPORATIONS.
WE DID NOT USE THAT MUCH OF OUR BUDGET THIS PAST YEAR, BUT THAT'S GOING TO RAMP UP.
THE MORE DEALS WE DO, THE MORE THINGS, WE'RE GOING TO NEED MORE OF HIS TIME.
I'VE ALSO ADDED PROFESSIONAL SERVICES CONSULTING, AND TO REMIND THE BOARD, I MENTIONED IT LAST MONTH, BUT THAT'S IF WE'RE DOING A LAND TRANSACTION, I NEED TO HIRE A SURVEYOR.
I NEED TO HIRE AN ENGINEER TO REPAIR SOMETHING IN A PROFESSIONAL PARK THAT WE OWN.
THAT WILL BE NON LEGAL CONSULTING SERVICES FOR 25,000.
AUDIT EXPENSES, THE PRICE WENT UP.
WE'RE ACTUALLY CHANGING FIRMS THIS YEAR.
WE ARE AUDITED TO REMIND EVERYBODY ON AN ANNUAL BASIS AS PART OF THE CITY'S AUDIT, BUT THEY ALSO AUDIT BOTH OF THE CORPORATIONS DURING THAT SAME TIME.
WE DO GO THROUGH A FULL FINANCIAL AUDIT EVERY YEAR. 227,5 FOR MARKETING.
BOTH OF THESE CORPORATIONS ARE MARKETING CORPORATIONS, AND THE LAW ALLOWS US TO PUT 10% IN THERE.
I'M RECOMMENDING PUTTING 10% IN.
IF WE END UP DOING, SAY, A WAY FINDING CAMPAIGN OR A BRANDING CAMPAIGN, WAY FINDING, HAS ANYBODY SEEN THE NEW SIGNS IN MCKINNEY THAT THEY'RE STARTING TO POP UP? THOSE ARE NOT INEXPENSIVE.
WE WILL DO SOME TYPE OF WAY FINDING.
I'M NOT SAYING WE WILL DO THOSE SIGNS, BUT THOSE TYPES OF CAMPAIGNS ARE EXTREMELY EXPENSIVE.
IF WE BUDGET 10%, WE DON'T USE THE ENTIRE 10%.
THE FOLLOWING YEAR, WE CAN BUDGET 10% AGAIN, BUT WE CAN ALSO ROLL FORWARD EVERYTHING WE DIDN'T SPEND THE PREVIOUS YEAR, OR IF WE COME UP TO A BIG EVENT, AND WE DON'T HAVE TO SPEND THAT, DOESN'T MEAN IT HAS TO BE SPENT ON MARKETING.
IT GIVES US THE ABILITY TO SPEND IT ON MARKETING IN FUTURE YEARS IF WE NEED TO.
A SMALL INCENTIVE THAT IT'S AN OLD INCENTIVE WITH CORPORATION FOR $10,000.
LAND ACQUISITION, 1.5 MILLION.
[00:30:01]
THAT IS ONE OF THE BOARD'S BIG PURPOSES.BUSINESS RELOCATION, 581,791.50.
ANYBODY THINK THAT'S A WEIRD NUMBER? WELL, IT'S A WEIRD NUMBER BECAUSE THE LAND AND THE PROJECTS ARE OUR TWO BIGGEST DEALS, AND I WANTED TO HAVE A BALANCED BUDGET.
THAT IS WHAT WAS LEFT TO GIVE US A BALANCED BUDGET.
THAT'S GOING TO BE ON AGAIN THIS YEAR, AND I BELIEVE THAT THIS OR NEXT YEAR MIGHT BE OUR LAST YEAR FOR THAT PARTICULAR DEBT SERVICE. BUT DON'T WORRY.
I WON'T LET YOU GO WITHOUT BEING IN DEBT FOR VERY LONG, PROBABLY.
I'M HAPPY TO ANSWER ANY OTHER QUESTIONS.
WE DO HAVE ENOUGH IN THE SALARIES TO COVER A COUPLE OF STAFF MEMBERS AND ANYTHING THAT COULD HAPPEN DURING THE YEAR.
IF WE HAVE ANY RAISES, WHATEVER, WE DO HAVE SOME MONEY IN THERE FOR THAT.
I ONLY BRING THAT UP BECAUSE THAT QUESTION WAS ASKED.
BY THE WAY, THE CITY MANAGER, THANK YOU FOR ASKING THAT QUESTION.
>> I'LL START OFF WITH A COUPLE OF QUESTIONS AND MAYBE FINISH WITH A COUPLE OF QUESTIONS.
FROM AN EDUCATION STANDPOINT OF VIEW, WHEN YOU'RE DOING THE PROPOSED INCOME FOR SALES TAX, GIVEN THE NEW INFORMATION WITH THE MORATORIUM EXPIRING IN DECEMBER, DOES THAT HAVE ANY EFFECT ON HOW YOU PROPOSE THAT NUMBER? YES OR NO. NO, IT WON'T AFFECT HOW WE PROPOSE THAT NUMBER.
YES, IT COULD AFFECT WHAT THAT NUMBER ACTUALLY ENDS UP BEING.
WE'RE ALWAYS GOING TO BUDGET CONSERVATIVELY.
>> FOR THE INCOME, WE WON'T BUDGET WHAT WE THINK WE'RE GOING TO BRING IN.
>> WELL, SO THAT PLAYS INTO MY SECOND QUESTION.
THE MARKETING BUDGET, THE 10% THAT'S MAX ALLOWED.
ONCE THAT NUMBER IS SET IN THE BUDGET, IS THAT NUMBER SET OR IF WE EXCEED THIS.
>> YOU CAN ADJUST IT WITH INCOME AS IT COMES IN.
>> THAT'S A GOOD QUESTION. I THOUGHT THAT'S WHERE YOU MIGHT BE GOING.
WE CAN, AND AS A MATTER OF FACT, WE DID THIS YEAR.
IF YOU REMEMBER, AFTER I GOT HERE, WE WERE MID BUDGET YEAR, AND WE TRANSFERRED IN THAT AMOUNT.
>> I'LL MAKE A MOTION TO APPROVE THE PROPOSED BUDGET FOR FISCAL YEAR '25-'26.
>> CHAIR, YOU HAVE TO HOLD THE PUBLIC HEARING BEFORE WE APPROVE THE BUDGET, PLEASE.
>> IT'S RIGHT. I'M SORRY. IT'S LISTED AS A PUBLIC HEARING.
YOU HAVE TO OPEN IT AND CLOSE IT.
>> JUST ANNOUNCE THE TIME USUALLY TO SEE IF ANYONE'S HERE TO SPEAK IN PUBLIC HEARING, AND THEN ANNOUNCE THE TIME AND CLOSE IT, AND THEN WE CAN ENTERTAIN THE MOTION.
>> 7:00 PM, WE'RE OPEN FOR A PUBLIC HEARING.
CAN WE CLOSE AT 7:00 PM AS WELL? ANYBODY? SORRY. 7:01.
>> YOU CAN SAY SEEING NONE AT 7:01.
>> THERE'S NOBODY HERE, SO 7:01 IS CLOSED.
>> I'LL MAKE A MOTION TO APPROVE THE PROPOSED BUDGET FOR FISCAL YEAR '25-'26.
>> MR. CHAIR, BEFORE YOU READ US INTO EXECUTIVE SESSION, SINCE I DIDN'T DO IT IN MY REPORT, OBVIOUSLY, THIS IS DE SHANER'S FINAL EDC MEETING.
I WANTED TO SAY THANKS TO HER PUBLICLY AND WISH YOU WELL.
SHE'S ACCEPTED A CITY SECRETARY POSITION IN CROSS ROADS, TEXAS.
IRONICALLY, ANOTHER CITY THAT GRANT'S LAW FIRM REPRESENTS.
THEY'LL BE WORKING TOGETHER IN THE FUTURE, BUT TRULY WISH YOU WELL.
I'M SURE THIS WILL NOT BE THE LAST WE WILL SEE OF YOU WITH YOU BEING A RESIDENT.
WE STILL EXPECT YOU TO SHOW UP AND VOLUNTEER FROM TIME TO TIME AT OUR EVENTS.
[00:35:01]
JUST WANT TO SAY THANK YOU.>> I WOULD SECOND THAT AS WELL.
I CAN SAY FROM THE POINT THAT I WAS JUST A BOARD MEMBER TO MOVING TO CHAIR, YOU'VE BEEN A TREMENDOUS AMOUNT OF SUPPORT AND EDUCATED ME IN A NUMBER OF WAYS. THANK YOU.
YOU'LL DO GREAT, AND THEY'RE LUCKY TO HAVE YOU.
WE'LL MOVE TO EXECUTIVE SESSION.
[L. EXECUTIVE SESSION]
EXECUTIVE SESSION IN ACCORDANCE WITH CHAPTER 551 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 ON PENDING OR CONTEMPLATED LITIGATION OR SETTLEMENT OFFER.WE'RE ON A MATTER IN WHICH THE DUTY OF THE ATTORNEY OR THE GOVERNMENTAL BODY UNDER THE TEXAS DISCIPLINARY CODE RULES OF PROFESSIONAL CONDUCT OF THE STATE BAR OF TEXAS CLEARLY CONFLICTS WITH THIS CHAPTER OR ANY OTHER ITEM LISTED ELSEWHERE WITHIN THE AGENDA AND OR THE SUBJECT MATTER LISTED BELOW, TEXAS GOVERNMENT CODE 551.072, DISCUSS OR DELIBERATE THE PURCHASE, EXCHANGE LEASE OR VALUE OF REAL PROPERTY.
WE HAVE FUTURE LAND OPPORTUNITIES IS OUR DISCUSSION POINT THERE.
THEN TEXAS GOVERNMENT CODE 551.087, DISCUSS AND DELIBERATE ECONOMIC DEVELOPMENT CORPORATION NEGOTIATIONS, PROJECT HOME RUN, AND THEN TEXAS GOVERNMENT CODE 551.074 PERSONNEL MATTERS, REVIEW CURRENT STAFF AND STAFFING NEEDS.
WE WILL MOVE TO EXECUTIVE SESSION AT 7:04.
IT'S 8:08. WE RETURNED FROM EXECUTIVE SESSION.
[M. ACTION PERTAINING TO EXECUTIVE SESSION]
WE DO HAVE ACTION PERTAINING OUT OF EXECUTIVE SESSION.>> I WOULD LIKE TO MAKE A MOTION TO APPROVE THESE ITEMS THAT WE DISCUSSED IN THE EXECUTIVE SESSION FOR PROJECT HOME RUN.
>> THAT IS APPROVED 4-0, AND WE WILL MOVE TO ADJOURNMENT.
>> THANKS, EVERYBODY.
* This transcript was compiled from uncorrected Closed Captioning.