YEAH. ALRIGHTY, CALLING THIS SPECIAL MEETING TO ORDER.
[A. CALL TO ORDER]
[00:00:06]
TODAY IS AUGUST 6TH, 2026. TIME IS 5:41 P.M. AND WE WILL DO A ROLL CALL VOTE.KAREEM EVANS HERE. MISS SAMUEL. PRESENT. MR. THORNTON? PRESENT. MISS MARYLOU PETTIS? HERE. MISS ANDERSON? HERE, AND MISS GUERRERO? HERE. ALRIGHTY, IF WE CAN GET SOMEBODY TO DO OUR INVOCATION.
LORD, WE JUST THANK YOU FOR THIS OPPORTUNITY TO COME BEFORE YOU.
LORD, AS WE COME TO THIS SPECIAL MEETING, WE ASK THAT WE BE ON ONE ACCORD WITH ONE MIND, ONE SET FOR OUR COMMUNITY, AND WE JUST GIVE YOU GLORY AND HONOR IN JESUS NAME.
AMEN. ALRIGHTY, PLEDGE OF 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.
THE COMMUNITY 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 INQUIRY.
I DON'T THINK WE HAVE ANYBODY HERE FOR PUBLIC APPEARANCE.
NO, SIR. THANK YOU. AND WE WILL MOVE FORWARD TO REGULAR AGENDA F.1.
[F.1. Consider, discuss, and act on the approval of the Princeton CDC FY26/27 budget and recommend to City Council its final approval.]
CONSIDER, DISCUSS AND ACT ON THE APPROVAL OF THE PRINCETON CDC, FY 26-26 BUDGET AND RECOMMEND TO THE CITY COUNCIL FOR FINAL APPROVAL.WE TRY TO NOT DO THIS TOO OFTEN. THERE ARE TIMES IF WE HAVE AN URGENT PROJECT, WE HAVE TO CALL A SPECIAL MEETING, BUT WE AVOID THEM AS MUCH AS WE CAN. THIS WAS BROUGHT ABOUT BY THE FACT THAT NOT ONLY WAS I OUT FOR AN EXTENDED PERIOD OF TIME, BUT THIS YEAR WE HAD TO COMPRESS THE CITY'S BUDGET SCHEDULE AND MOVE THE BUDGET ADOPTION UP ALMOST AN ENTIRE MONTH BECAUSE THERE MAY BE A CONSIDERATION FOR A TAX INCREASE THAT HAS TO GO ON THE BALLOT IN NOVEMBER.
SO THANK YOU ALL FOR BEING HERE. THE OTHER THING THAT I WILL GIVE YOU AS A DISCLAIMER, AND I DON'T GIVE IT BECAUSE THERE'S ANYTHING WRONG WITH THIS BUDGET, BUT I DID NOT PUT THIS BUDGET TOGETHER. I WAS AGAIN, I WAS OUT THIS WAS DONE BY MISS COOK AND, AND KELLY WILSON. AND I SAY THAT BECAUSE THERE'S A FEW THINGS THAT I'M GOING TO HAVE TO EXPLAIN, BECAUSE THEY MAKE THE DOLLAR FIGURES OVERALL IN THE BUDGET ARE TOTALLY FINE, BUT THEY MAY, IN THEIR MIND, CATEGORIZE THINGS A LITTLE BIT DIFFERENTLY THAN I DO. SO I'LL EXPLAIN THOSE TO YOU.
BUT REALLY THE FEW THINGS I WANT TO POINT OUT IS MISS WILSON HAD POINTED OUT TO THIS BOARD THAT THE BUDGET FOR SALARIES IS GOING TO GO OVER. WE'RE GONNA HAVE TO MOVE SOME MONEY AROUND THIS YEAR.
SO YOU'LL SEE AN INCREASE THERE. AND THAT COVERS A NUMBER OF THINGS THAT COVERS ANY INTERNAL RAISES.
BUT ALSO OUR INSURANCE PREMIUMS HAVE GONE UP SIGNIFICANTLY.
AND SO KEEP IN MIND THAT THAT LINE ITEM ISN'T SALARY IT'S EMPLOYMENT COST TOTAL.
THERE'S A LOT MORE TO IT. HEY, JIM, QUICK QUESTION.
YES, SIR. IS THAT THE SAME AMOUNT AS THE AS TO WHAT? THE IDENTICAL NOW. YES, SIR. PERFECT. UNDER PROFESSIONAL SERVICES THAT IS A MUCH BIGGER NUMBER.
IT'S TIME FOR THE CITY TO UPDATE WHAT THEY CALL THEIR UDC, WHICH IS THEIR UNIFIED DEVELOPMENT CODE.
AND IT IS THE BIBLE FOR ALL DEVELOPMENT. IT GOES EVERYTHING FROM ZONING TO CODE ENFORCEMENT, TO DRAINAGE. THEY'RE REQUESTING $85,000. I'M SORRY, I'M ON.
I'M NOT ON THE DETAIL. DO THEY HAVE THE SUMMARY BUDGET? THERE WE GO. IT SHOULD BE ON YOUR SCREEN, I APOLOGIZE.
THEY'RE REQUESTING EACH OF THE CORPORATIONS SHIPPING $85,000.
[00:05:04]
IT'S VERY, VERY IMPORTANT FOR WHAT WE DO. I RECOMMEND IT, BUT THAT'S WHY THAT NUMBER IS MUCH LARGER.AND AS YOU LOOK AT THE BOTTOM, THE TRANSFERS, I THOUGHT THIS MIGHT CATCH SOME EYES BECAUSE WE'RE UNDER CONTRACT TO PAY THE CITY $75,000 A YEAR FOR OFFICE SPACE AND EQUIPMENT, USE OF THE FACILITIES, ACCESS TO.
AND SO THAT CAUGHT MY ATTENTION. AND I WENT DOWN AND TALKED TO KELLY JUST TO MAKE SURE THEY WEREN'T TRYING TO, YOU KNOW, SLIP SOME EXTRA ASSISTANCE IN FOR THE CITY, WHICH THEY WOULDN'T DO.
AND SHE REMINDED ME THE WAY THEY'RE HANDLING, AND I ACTUALLY LIKE THIS, THE $150,000 THAT WE BUDGETED FOR MAINTENANCE OF THE CORE PARKS, THEY'RE BUDGETING AS A TRANSFER AND HAVING PARKS MANAGE THAT PROCESS INSTEAD OF US HAVING TO DO IT BECAUSE THEY ALREADY MANAGE ALL THE MORE THE MOWING, SO THEY WON'T TAKE THAT MONEY UNTIL WE SIGN THE LEASES, BUT IT'S IN THE BUDGET IN CASE WE DO SIGN, SO THAT 225 UNDER TRANSFERS AT THE BOTTOM COVERS NOT ONLY OUR $75,000 ANNUAL CONTRACT CONTRIBUTION, BUT 150,000 FOR THE THREE CORE PARKS AS WE DO THOSE.
AND AGAIN, THAT DOESN'T MEAN WE'RE GOING TO SPEND THAT MONEY.
JUST AS A QUICK REMINDER, OUR CORP, BOTH CORPORATIONS ARE ALLOWED BY LAW TO BUDGET 10% OF OUR BUDGET AND INCOME TOWARDS MARKETING AND NO MORE DURING THE YEAR. HOWEVER, WE'RE ALLOWED TO CARRY OVER UNEXPENDED MARKETING FUNDS FROM YEAR TO YEAR WITHOUT LIMIT.
EVERYBODY HAS SEEN THE NEW WAYFINDING SIGNS IN MCKINNEY AND PROSPER.
I THINK SALINA ALSO HAS SOME NEW ONES. THOSE PROGRAMS COST HUNDREDS OF THOUSANDS OF DOLLARS.
AND SO IF AS LONG AS WE BUDGET IT, AS LONG, WE DON'T HAVE TO SPEND THAT AMOUNT EVERY YEAR.
BUT IT PUTS US IN A POSITION TO BUILD UP A RESERVE.
AND SO AND I HAD A CITIZEN TODAY SAY, WELL, I SEE YOUR BUDGETING 224,000.
AND RIGHT NOW, YOU'RE EXPECTED LAST YEAR TO SPEND 30,000.
A, THAT 30,000 NUMBER WAS A LITTLE LOW. THERE WAS SOME OTHER STUFF THAT HADN'T PASSED YET, BUT I EXPLAINED TO THEM THIS EXACT THING THAT WE DO IT FOR THIS REASON.
IF THE CITY IS GOING TO DO A REBRANDING, IF WE'RE GOING TO DO WAYFINDING AND KEEPING IN MIND WITH THE CORE PARKS, THERE'S GOING TO HAVE TO BE SOME TYPE OF WAYFINDING PROGRAM, IN MY OPINION, BECAUSE I COULDN'T TAKE YOU TO TWO OF THE PARKS IF I HAD TO.
AND THEN. HEY, JIM, QUICK QUESTION. SO THE THE 176,500.
THAT'S WHAT WE HAVE IN MARKETING. THAT'S WHAT WE BUDGETED LAST YEAR FOR MARKETING, RIGHT? NO, ACTUALLY, AND I'M GLAD YOU SAID THAT BECAUSE I KIND OF I WONDERED MYSELF OFF THE POINT.
OKAY. ON THE EDC, IT SHOWS. 226 BUDGETED FOR MARKETING.
DOES THAT MAKE SENSE? OKAY, SO THE 176 FIVE IS WHAT WE HAD LEFT IN MARKETING AS OF THIS POINT, BECAUSE THE 50,000 THAT WE DID FOR OFFICER DOMINGUEZ CAME AND THEN WE'VE.
YEAH. AND THEN WE'VE SPENT 32,000. SO WHATEVER, AT THE END OF THE YEAR, WE DON'T SPEND DURING A FEBRUARY BUDGET AMENDMENT, THE CITY DOES, WE WILL PARTICIPATE IN THAT BUDGET AMENDMENT AND THEY WILL ROLL THAT OVER INTO OUR MARKETING ACCOUNT.
AT, I SEE QUIZZICAL LOOK. SO DO Y'ALL HAVE QUESTIONS? YEAH. SO THIS IS THE SAME MARKETING THAT WE WERE TALKING ABOUT THAT WE DIDN'T SPEND, THAT THE CITY IS ASKING US TO SPEND BECAUSE THEY THINK THAT IT'S A LINE ITEM THAT IS GOING AWAY AT THE END OF THE YEAR. WELL, WHICH I DON'T THINK WE TALK ABOUT IT RIGHT NOW A LOT, BUT YES, YES. NOT THAT IT'S GOING AWAY, IT'S THAT IT'S BUDGETED FOR.
AND WE WERE AT THE END OF OUR BUDGET CYCLE. SO WE WERE SAYING THAT WE SHOULD SPEND IT.
WE DON'T HAVE TO WE OPERATE. AND THIS IS ANOTHER THING, AND IT'S THIS IS NOT A KNOCK ON ANYBODY.
WE OPERATE BY DIFFERENT LAWS THAN THE CITY DOES.
IF IF A DEPARTMENT HAS SOMETHING IN THEIR BUDGET AND THEY DON'T SPEND IT, IT'S GONE.
[00:10:02]
BUT WE OPERATE UNDER SLIGHTLY, WE FOLLOW THEIR PURCHASING POLICIES, BUT OUR BUDGETING POLICIES, PARTICULARLY WHEN IT COMES TO MARKETING, IS DIFFERENT.THEY DON'T, IT'S HARD FOR CITIES WHEN WE PLAY BY DIFFERENT RULES BECAUSE IT CREATES FRICTION.
AND SO WE PLAY NICE EVERYWHERE WE CAN. BUT THE ONLY REASON, QUITE HONESTLY, IS AN EDC OR CDC JUST FOR MARKETING WHAT WE DO, WE'RE NOT GOING TO SPEND $300,000 A YEAR. THE WHOLE REASON WE'RE DOING THIS IS SO WE CAN ASSIST THE CITY WHEN IT'S TIME TO DO THE BIG PROJECTS.
AND SO THEY MAY NOT UNDERSTAND IT TODAY, BUT THEY'LL APPRECIATE IT WHEN THEY ASK FOR, YOU KNOW, THREE QUARTERS OF $1 MILLION TO DO A WAYFINDING PROGRAM, AND WE HAPPEN TO HAVE IT.
IT JUST GIVES US THE OPPORTUNITY TO SPEND UP TO THAT AMOUNT FROM YEAR TO YEAR.
IT'S STILL OPEN SEASON. YOU GUYS STILL GET TO MAKE THAT DECISION IN THE FUTURE ON WHAT TO SPEND AND WHAT NOT TO SPEND, BUT IT'S, IT'S RAISING THE LEVEL OF WHAT YOU'RE ALLOWED TO SPEND ON A PROJECT OVER TIME.
SO BASICALLY, IF WE HAVE 176,000 WHATEVER LEFT AND OUR BUDGET CYCLE ENDS WHEN JIM.
430,000 NEXT YEAR. WE HAVE 400 SOME THOUSAND NEXT YEAR.
YES, SIR. OKAY. AND THEN AGAIN, THE BIGGEST NUMBER TO KEEP AN EYE ON IS THE BOTTOM LINE NUMBER, BECAUSE DURING THE YEAR. I'M SORRY, GO AHEAD.
NO, I HAD A QUICK QUESTION. YOU MENTIONED THE SCHOLARSHIP WAS UP UNDER THE MARKETING AND.
BUT IT SHOULDN'T HAVE BEEN. OR IS IT SUPPOSED TO BE THERE OR.
AND THAT'S NOT AN ITEM THAT'S SPECIFICALLY CALLED OUT IN THE LAW.
BUT THERE ARE LEGAL OPINIONS SAYING THAT WE CAN USE THAT FUND.
OKAY. THAT'S A GOOD QUESTION BECAUSE IT DOES SEEM A LITTLE ODD.
SO IF YOU, WE DON'T HAVE TO HAVE A BALANCED BUDGET, WE CAN BE HAVE A DEFICIT BUDGET.
IF YOU LOOK AT OUR YEAR TO DATE BUDGET, WHEN WE HAVE OUR NEXT MEETING, YOU'LL NOTICE THAT I'M ONLY GOING TO SPEND PROBABLY 60% OF WHAT WAS BUDGETED. SO JUST BECAUSE IT'S IN THE BUDGET DOESN'T MEAN IT'S GOING TO GET SPENT. BUT THAT BOTTOM LINE NUMBER GIVES US A LITTLE BIT OF FLEXIBILITY DURING THE YEAR.
IF WE NEED TO MOVE SOME FUNDS FROM ONE LINE ITEM THAT'S PREVIOUSLY BEEN APPROVED TO ANOTHER, WE CAN DO THAT. SINCE WE PROVIDE OUR FINANCIALS AT EVERY MONTH'S BOARD MEETING, WE DO IT VERY TRANSPARENTLY.
YEAH, A COUPLE OF YEARS THAT WE HAVEN'T SPENT.
YEAH. YEP. AND I'M HAPPY TO ANSWER ANY OTHER QUESTIONS.
THAT'S A PLACEHOLDER TO PARTNER WITH THE CITY ON A ROAD PROJECT, BASICALLY BECAUSE THEY'VE GOT THEY HAVE A LOT OF ROAD PROJECTS THAT DON'T QUALIFY FOR OUR ROAD IMPACT FEES THAT THEY NEED HELP WITH, WHETHER WE'RE HAVING A STOPLIGHT HERE OR WHETHER WE'RE HAVING TO ADD A PEDESTRIAN SIDEWALK OR WHATEVER.
AND SO THERE ARE THINGS THAT DON'T QUALIFY FOR THE FEES THAT THEY BRING IN.
AND SO WE TRY TO BUDGET 500 000 A YEAR TO TO WORK WITH THEM.
NOW, I WILL TELL YOU THAT LAST YEAR WHEN WE BUDGETED TO 500 000, IT WAS VERY SELF-SERVING.
IT WAS TO REDO THE TWIN GROVES PARK, THE INTERNAL ROADS AND PARKING THERE, BECAUSE WE'RE GOING TO ADOPT THAT PARK, BUT WE'RE STILL WAITING FOR THE LEASES FROM THE CORPS UNTIL WE GET THE LEASES.
WE CAN'T, YOU KNOW, WE'RE NOT GOING TO DO ANYTHING TO THE PARK UNTIL WE CONTROL THEM. OKAY.
OUR MARKETING CAN ROLL OVER NONE OF OUR OTHER THAN PROJECTS.
IF THERE'S A SPECIFIC PROJECT THAT YOU FUNDED, SAY, AN INCENTIVE TO A COMPANY AND THEY DON'T, THEY DON'T OPEN THIS BUDGET YEAR. BUT WE, WE WEREN'T SURE WHEN THEY WERE GOING TO OPEN.
SO WE BUDGETED IT THIS YEAR AND THEY DON'T OPEN THIS YEAR. THEN AT THE END OF THE YEAR, I WILL GET WITH FINANCE AND I WILL HAVE THEM ADDED TO THE NEXT YEAR'S BUDGET, BUT YOU'LL APPROVE IT BEFORE THE BUDGET GOES THROUGH.
DOES THAT MAKES, IT DOESN'T AUTOMATICALLY ROLL OVER. IT STILL COMES TO YOU FOR APPROVAL.
OKAY. MAKES SENSE. MAKES SENSE. NOW, I DON'T KNOW IF THIS IS A NOW QUESTION, BUT WHAT HAPPENS WITH THE MARKETING BUDGET FOR THE CITY THEN IF IT DOESN'T ROLL OVER? CITY HAS A VERY SMALL MARKETING BUDGET.
THEY'RE ALL OVER THE PLACE. A LOT OF THEIR MARKETING BUDGET COMES FROM US BECAUSE WE'RE A MARKETING.
[00:15:02]
WE'RE TWO MARKETING ORGANIZATIONS. OKAY. AND PART OF OUR CONTRACT, IF YOU ALL REMEMBER THE ONES THAT WERE HERE, WE PAID THEM $75,000 FOR EQUIPMENT AND ALL THAT STUFF.BUT WE ALSO CONTRIBUTE TEN GRAND FROM EACH CORPORATION TO AARON AND HER MARKETING DEPARTMENT TO KEEP THEM, YOU KNOW, GOING. OKAY. THANK YOU. YOU'RE WELCOME.
ANY OTHER QUESTIONS? DO YOU JUST NEED A MOTION, JIM? YES, SIR. TO APPROVE AND RECOMMEND THE APPROVAL TO COUNCIL.
I MAKE A MOTION THAT WE APPROVE THE PROPOSED BUDGET AND MAKE A RECOMMENDATION TO THE COUNCIL.
I GOT A MOTION BY MR. THORNTON. DO I HAVE A SECOND? I HAVE A SECOND HERE. ALL RIGHT, ALL RIGHT. A MOTION MADE BY MR. THORNTON, SECOND BY MISS HENDERSON. AND WE'LL GO AHEAD AND TAKE A VOTE.
ALRIGHT, THAT'S IT. THOSE THAT ARE READY TO ADJOURN, GET UP AND WALK OUT. IS THAT YOUR LINE? YEAH.
FAVORITE LINE OF THE NIGHT IF YOU'RE READY TO LEAVE.
LET'S GO. ADJOURNMENT. THANK YOU ALL VERY MUCH FOR MAKING THE EXTRA TIME TONIGHT.
THAT'S IMPORTANT.
* This transcript was compiled from uncorrected Closed Captioning.