[00:00:01] IT'S 6:02, WE'LL CALL TO ORDER THURSDAY, NOW TUESDAY, AUGUST 18TH, MEETING OF THE ECONOMIC DEVELOPMENT CORPORATION, 2026. AND WE'LL START WITH ROLL CALL. MIKE THOMPSON, PRESENT. ALBERT LOTT, PRESENT. SESAME MORRISON IS NOT HERE. JOSHUA HARRELL, NOT HERE. JAMES MILLER, PRESENT. ALAN RUSCINI, PRESENT. AND DESHAUNA WALKER, PRESENT. AND WE'LL MOVE TO THE INVOCATION. HEAVENLY FATHER, WE THANK YOU FOR THE RESPONSIBILITY AND PRIVILEGE TO SERVE THE PRINCETON COMMUNITY AS WE GATHER AT THIS MEETING. GRANT US WISDOM TO MAKE THOUGHTFUL DECISIONS, DISCERNMENT TO CONSIDER EVERY PERSPECTIVE FAIRLY, AND HUMILITY IN OUR SERVICE TO OTHERS. MAY OUR EFFORTS ENCOURAGE RESPONSIBILITY GROWTH AND STRENGTHEN OUR COMMUNITY AND PROMOTE OPPORTUNITIES THAT BENEFIT FUTURE GENERATIONS. GUIDE US TO LEAD WITH INTEGRITY. AND MUTUAL RESPECT IN ALL THAT WE DO. AMEN. PLEDGE OF ALLEGIANCE. [E. PUBLIC APPEARANCE] AND WE'LL MOVE TO PUBLIC APPEARANCE. MEMBERS OF THE PUBLIC ARE ALLOWED FIVE 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 ANY PUBLIC INQUIRY OR TO RECITE EXISTING POLICY IN RESPONSE TO ANY PUBLIC INQUIRY. AND I BELIEVE WE HAVE ONE. IS THAT RIGHT, KAREN? WE HAVE TWO. THE FIRST ONE IS JASON RUTLEDGE. THANK YOU. GOOD AFTERNOON, GOOD EVENING, EDC BOARD CHAIR, VICE CHAIR. THANK YOU GUYS FOR AN OPPORTUNITY TO SPEAK TO YOU GUYS TODAY. I'M SPEAKING TO YOU AS A RESIDENT ON TODAY. I JUST WANTED TO EMPHASIZE TO YOU HOW I'LL FIRST START BY SAYING THANK YOU FOR THE WORK THAT YOU GUYS DO. IT WAS NOT TOO LONG AGO THAT I SAT ON A BOARD JUST LIKE YOU GUYS ARE DOING TODAY AND I KNOW HOW IMPORTANT IT IS THAT THE WORK THAT YOU GUYS ARE DOING. AND I JUST WANT TO FURTHER EMPHASIZE THE IMPORTANCE THAT YOU GUYS PROBABLY HAVE NOTICED WITH SOME OF THE THINGS THAT ARE HAPPENING AT THE COUNCIL LEVEL AND WITH THE CITY REGARDING OUR TAXES AND SOME OF THE COMMERCIAL GROWTH EMPHASIS. AND JUST CONTINUE TO ASK THAT YOU CONTINUE TO FOCUS ON THE COMMERCIAL GROWTH THAT'S HAPPENING WITHIN PRINCETON. AS YOU MAY NOT BE AWARE, RECENTLY COUNCIL APPROVED THE INS TAX RATE. IT'S CURRENTLY GOING THROUGH THE PROCESS, BUT TO INCREASE WHICH... AFFECTS OUR DEBT CAPACITY, WHICH ALLOWS US TO CONTINUE TO FOCUS ON THE STRUCTURAL BUILD OF SOME OF THE QUALITY OF LIFE INITIATIVES WE HAVE, LIKE OUR PARKS AND THINGS LIKE THAT. BUT THE M&O HAS BEEN PULLED FROM DISCUSSION AS OF RIGHT NOW. AND SO, YOU KNOW, THAT'S TO ADDRESS THE OPERATIONAL ASPECT OF THINGS, THE STAFFING AND SO ON AND SO FORTH, RIGHT? SO WITH THAT BEING PULLED, COMMERCIAL GROWTH AND DEVELOPMENT IS SO KEY AND VITAL TO WHERE PRINCE IS GOING FORWARD. I'M GLAD TO SEE THAT YOU GUYS HAVE AN UPDATE ON THE AGENDA FOR THAT, AND I'M ALSO GLAD TO SEE THAT YOU HAVE AN UPDATE ON STAFFING BECAUSE I KNOW THAT YOU GUYS ARE ALL VOLUNTEERS, RIGHT? AND SO YOU'RE NOT HERE 9 TO 5 TO KIND OF CONTINUE TO WORK, AND I KNOW THAT WE DO HAVE STAFF ON BOARD THAT DOES THAT. BUT THINK ABOUT THAT LONG TERM AND HOW WE CAN. I KNOW THAT YOU GUYS ARE OPERATING AT 100%. IF WE CAN GET 110 AND 120, THAT WOULD BE PHENOMENAL BECAUSE RIGHT NOW WHERE WE'RE MOVING AS A CITY, WE HAVE TO REALLY EMPHASIZE ON THE COMMERCIAL GROWTH. WITHIN OUR CITY AND SO AGAIN THIS IS JUST MY CHARGE TO YOU GUYS CONTINUE DOING THE GREAT WORK THAT YOU'RE DOING AND GET AS MUCH JUICE OUT OF THE ORANGE AS YOU CAN AND KNOW THAT THE COUNCIL IS I'M SPEAKING AS JASON THAT MYSELF SUPPORT THE WORK THAT YOU GUYS ARE DOING SO THANK YOU SO MUCH FOR FOR YOUR TIME. THANK YOU NEXT IS MAXINE ELLIS GOOD EVENING, CHAIR, CO-CHAIR, DIRECTORS. I'M GOING TO KIND OF SPEAK SIMILAR TO JASON. I'VE TALKED A LOT AT COUNCIL ABOUT THIS WITH THE BUDGET, BUT PRINCETON'S IN TROUBLE. AND EVEN IF YOU LISTEN TO LAST NIGHT'S CITY COUNCIL MEETING, THE CFO HERSELF SAID, IF WE'RE NOT GOING TO RAISE THE TAXES, WE NEED COMMERCIAL. AND EVERYTHING CURRENTLY THAT... YOU ALL HAVE OUR ITEMS THAT [00:05:03] HAVE BEEN ON THE AGENDAS FOR A WHILE. WE NEED NEW STUFF COMING. WE NEED BOOTS ON THE GROUND. AND EDC IS THE ONE THAT BRINGS US THE COMMERCIAL. AND SO WE NEED YOU GUYS TO PUT YOUR FEET ON THE GROUND. WE NEED YOU ALL TO BE ASKING THOSE HARD QUESTIONS. WHERE'S OUR COMMERCIAL? WHAT DO WE NEED TO DO TO GET? MORE COMMERCIAL IN THE CITY OF PRINCETON. I KNOW KROGER'S COMING. I KNOW HOME DEPOT'S COMING. BUT THEY'VE BEEN COMING FOR YEARS NOW. SO WE JUST NEED TO GET OUR FEET OUT THERE, PUT THEM ON THE STREETS, AND TALK TO PEOPLE AND GET MORE COMMERCIAL TO HELP OUR CITY CONTINUE. BECAUSE RIGHT NOW, WE'RE IN TROUBLE. SO THANK YOU. THANK YOU. AND THAT'S ALL, CARRIE? YES, SIR. GREAT. THANK YOU. AND [F. PUBLIC REPORT ITEMS] WE'LL MOVE TO PUBLIC REPORT ITEMS. THE NEXT CDC MEETING IS AUGUST 19, 2026 AT 6 P.M. THE NEXT REGULAR CITY COUNCIL MEETING IS AUGUST 24, 2026 AT 6.30 P.M. THE NEXT PEDC MEETING IS SEPTEMBER 15, 2026 AT 6 P.M. [G. STAFF REPORT ITEMS] AND NEXT IS STAFF REPORT ITEMS, THE CEO'S OPERATIONS REPORT, SALES TAX UPDATE, BUILDING PERMITS. FINANCIAL REPORT, MR. WEHMEYER. GOOD EVENING. FIRST ON THE OPERATIONAL SIDE OF IT, I, AS ALWAYS, HAVE HANDED YOU A WRITTEN REPORT. WE SHOULD HAVE OUR NEW WEBSITES UP WITHIN, HOPEFULLY OPERATIONAL WITHIN 60 DAYS. THEY'RE IN DESIGN RIGHT NOW. THAT'S A DONE DEAL. I WILL GO OVER THE SALES TAX AND SINGLE FAMILY PERMITS SEPARATELY. HAD A CONVERSATION WITH THE CORPS OF ENGINEERS TODAY. SETTING UP A MEETING NEXT WEEK WITH MYSELF, THE MAYOR, AND THE CITY MANAGER TO GO OVER AND RE-ENERGIZE THE THREE PARK LEASES AND THE ANNEXATION OF THE SHORELINE TO TRY TO GET THAT CONTINUING TO MOVE FORWARD. ALTHOUGH IT'S GOING TO BE A TOUGH PILL TO SWALLOW, WE HAVE BEEN ADVERTISING FOR AN EXECUTIVE ASSISTANT. CARRIE HAS DONE AN AMAZING JOB. AS A MATTER OF FACT, I'VE HAD... SEVERAL BOARD MEMBERS TELL ME TO TALK HER INTO TRYING TO STAY. I HAD ALREADY TRIED THAT. IT'S A FOUR-HOUR COMMUTE. IT'S JUST NOT GOING TO WORK. BUT WE DO HAVE SOME INTERVIEWS TOMORROW, FOUR INTERVIEWS TOMORROW, AND THEN WE'LL CUT IT DOWN PROBABLY TO A COUPLE FINALISTS. SO WE'RE PRETTY CLOSE ON AT LEAST FILLING THAT POSITION. WE ARE GOING TO AT LEAST TRY, AND SHE SEEMS AMICABLE TO THIS, TO KEEP. HER AROUND FOR THREE OR FOUR WEEKS AFTER WE HIRE SOMEBODY TO HELP TRAIN THEM. SHE, IT'S NOT EVERY DAY YOU RUN INTO AN ADMIN PERSON THAT KIND OF IS ABLE TO READ YOUR MIND AND UNDERSTANDS HOW YOU LIKE TO OPERATE, IS ABLE TO, YOU KNOW, KIND OF BE AHEAD OF THE GAME, EARN THE NICKNAME RADAR BECAUSE THEY KNOW WHAT YOU'RE GOING TO ASK BEFORE YOU ASK THEM. THAT'S AN OLD MASH. NOBODY, NOT ENOUGH PEOPLE, ENOUGH TO UNDERSTAND THAT. OKAY, MAN, TOUGH CROWD. SO ANYWAY, WE ARE MOVING FORWARD WITH THAT AND WE WILL HAVE SOMETHING ON THAT AS WELL. PROJECT HOME RUN, NOT AN OLD PROJECT, IT IS UNDER CONSTRUCTION. THAT STARTED WITHIN THE LAST YEAR, 25,000 SQUARE FEET OF PROFESSIONAL OFFICE. AND WE'VE GOT NINE PROJECTS ON EXECUTIVE SESSION, ALL ARE COMMERCIAL. NONE OF THEM ARE LESS OR MORE THAN THREE MONTHS OLD. THAT'S GOOD NEWS. IF YOU WILL PUT UP THE SALES TAX, STRONG MONTH IN SALES TAX, 13% UP, TAKING US FROM 6% YEAR TO YEAR TO 7% IS A REMINDER OF THE BOARD. WHEN WE LOOK AT SALES TAX, WE COMPARE SAME MONTH PREVIOUS YEAR. WE DON'T LOOK MONTH TO MONTH. SALES TAX IS CYCLICAL EVERY YEAR. WE'VE HAD ONE DOWN MONTH THIS YEAR AND THAT WAS MORE THAN LIKELY DUE TO A SALES TAX AUDIT AND IT WAS ONLY DOWN FOUR PERCENT. SO WE REMAIN STRONG WHEN WE GET TO THE LAST FEW MONTHS OF THE YEAR. I START KIND OF RUNNING A RUNNING TALLY ON THE BOTTOM TO GIVE THE BOARD AN IDEA WHERE WE WILL END UP AT DIFFERENT PERCENTAGES AHEAD OF LAST YEAR. WE'RE GOING TO END UP, I BELIEVE, I DON'T WANT TO JINX IT, I'LL KNOCK ON WOOD. SOMEWHERE WITHIN THAT SCALE, IF I WERE TO GUESS, I'D SAY WE'LL PROBABLY FINISH HERE ABOUT WHERE WE ARE NOW, [00:10:01] ABOUT 7% UP, WHICH WOULD BRING IN OVER 2.4%. MILLION DOLLARS, WHICH IS SIGNIFICANTLY AHEAD OF BUDGET AND AHEAD OF LAST YEAR. WE HAVE ANY QUESTIONS ON SALES TAX? OKAY. ON TO ANOTHER ECONOMIC INDICATOR, OUR BUILDING PERMITS. WHY IS THAT IMPORTANT? BECAUSE RIGHT NOW OUR SALES TAX IS ESSENTIALLY GROWING AT THE RATE OF OUR POPULATION, MAYBE JUST A HAIR FASTER. AND SO AS WE KEEP THESE GOING, IT'S IMPORTANT IF WE CAN GO JUST TO THE PRINCETON PAGE. WE TRACK A DOZEN CITIES AND HOW THEY DO WITH THEIR HOW THEY'RE DOING EXCUSE ME WITH THEIR BUILDING PERMITS. WE ARE COMING OFF OF THREE CONSECUTIVE DOWN MONTHS. WE WERE UP JUST THREE PERMITS OVER SAME MONTH PREVIOUS YEAR IN JULY. DID 130 UP 2%. A LOT OF THAT IS DUE TO STAFFING CAPACITY. WE HAD A BACKLOG OF NEARLY 500 PERMITS. READY TO GO OUT. THOSE ARE BEING CAUGHT UP ON. SHIA HAS DONE A GOOD JOB OF JUGGLING AROUND WORK, BORROWING ADMIN SUPPORT, SO WE CAN GET THOSE THROUGH THE SYSTEM. ONCE WE'RE CAUGHT UP, YOU KNOW, I WOULD THINK THE GOAL WOULD BE TO STAY WITHIN SEVEN TO TEN DAYS TO BE ABLE TO DO A PERMIT WITHIN SEVEN TO TEN DAYS. ONCE WE GET CAUGHT UP TO THAT, NEXT MONTH I WOULD HOPE WE WILL SEE A SIGNIFICANT INCREASE OVER THE SAME MONTH PREVIOUS YEAR AND WE'LL START. WE'LL START CATCHING UP. NOW, I WILL SAY THAT THIS IS SHOWING SOME DOWN MONTHS, AND IT LOOKS LIKE A REAL NEGATIVE STORY, BUT WE'RE STILL GROWING AT A RAPID RATE. AND SO ONCE WE CATCH UP, I THINK WE'RE GOING TO BE AT OR ABOVE WHERE WE WERE LAST YEAR, BECAUSE WE STILL HAVE REQUESTS FOR PERMITS COMING IN EVERY DAY. AND SO IF WE DO 01,600 PERMITS, YOU MULTIPLY THAT TIMES 3.07, WHICH IS THE AVERAGE PER HOUSEHOLD, AND THAT'S, YOU KNOW, 5,000 NEW RESIDENTS RIGHT THERE. SO ANYTHING ABOVE THAT, YOU JUST, YOU KNOW, ANY HOME, JUST KIND OF IN THE BACK OF YOUR MIND, MULTIPLY THAT BY 3.07. WHETHER IT BE SINGLE OR MULTIFAMILY, THEY BOTH COUNT BECAUSE IT'S AN AVERAGE. AND SO... WE'RE STILL HEALTHY, WE'RE CATCHING UP, AND ONCE WE CATCH UP, I THINK OUR PERMIT NUMBERS WILL LOOK VERY STRONG. ANY QUESTIONS ON THAT REPORT? I THINK TO PUT IT IN PERSPECTIVE, WHEN I MOVED HERE, THE WHOLE TOWN WAS THAT BIG, LET ALONE THAT MANY HOUSING PERMITS. JIM, I HAVE TWO QUESTIONS ON THIS, AND I DON'T KNOW IF I'M READING THIS RIGHT OR WRONG. JUST SO I UNDERSTAND, IF I'M LOOKING AT JULY 20, 2026, 130 NEW PERMITS FOR PRINCETON, IS THAT CORRECT? CORRECT. GREAT. WOULD THERE BE A WAY JUST TO MODIFY THIS AS FAR AS DO WE KNOW WHAT OUR TOTAL CAPACITY IS? SO TAKE, FOR EXAMPLE, IF YOU LOOK AT SALINA, MCKINNEY, PRINCETON, MELISSA, OBVIOUSLY MCKINNEY IS THE LARGEST OF THE FOUR. RIGHT. DO WE KNOW, AND I DON'T KNOW HOW TO READ THIS, BUT I'M THINKING FOR A BUSINESS TERM, DO WE KNOW WHAT THE TOTAL CAPACITY IS? WHAT'S PRINCETON'S TOTAL CAPACITY VERSUS THE OTHERS? SO LET'S JUST MAKE THIS UP. LET'S JUST SAY OUR TOTAL CAPACITY IS 100,000 RESIDENTS. RIGHT, RIGHT. AND IF WE KNOW THAT WE'RE AT 50,000, SO WE KNOW WE'RE AT 50% VERSUS MCKINNEY, CELINA. IS THERE A WAY TO DETERMINE THAT LONG TERM TO WHERE WE CAN LOOK AT THAT? US VERSUS PERMITS VERSUS TOTAL CAPACITY, THAT'S NUMBER ONE. THERE IS, AND THAT'S KIND OF A MULTI-PART QUESTION, BECAUSE THERE'S CAPACITY WITHIN THE CITY LIMITS TODAY AND CAPACITY WITHIN OUR ETJ AND THEN AREAS THAT WE WILL GROW INTO OUR ETJ ABOVE AND BEYOND WHAT'S OUR ETJ TODAY. AND I SAY THAT BECAUSE ONCE WE ANNEX THE 33 MILES OF SHORELINE, WE'RE GOING TO BRING AN ADDITIONAL 8.5 SQUARE MILES INTO OUR ETJ THAT'S NOT IN OUR ETJ TODAY. AND SO THOSE WILL START COUNTING AS WELL. SOME OF THESE, AND YOU KIND OF SAID IT WITHOUT SAYING IT SPECIFICALLY, A BIG PART OF THIS IS THE AGE OF THE BUILD-OUT. MCKINNEY'S WAY MORE BUILT-OUT THAN WE ARE. SO THEIR NUMBERS MAY BE A LITTLE LOWER ON AND OFF. THEY'RE AHEAD OF US IN THE DEVELOPMENT CURVE. CELINA IS HITTING ON ALL CYLINDERS. ANNA SHOULD BE HITTING ON ALL CYLINDERS. WE ARE. I WILL TELL YOU THAT A NUMBER THAT I GOT FOR... FULLY ENTITLED LOTS AS OF TODAY, MEANING THAT WE'VE GOT GREENBRICK, WE'VE GOT HORTON, WE'VE GOT MEGATEL, WE'VE GOT CENTURION, ALL OF THESE MAJOR DEVELOPERS, EVERY ONE OF THEM ARE DOING MULTI-PHASE DEVELOPMENTS. AND SO THEY'RE, YOU KNOW, SOME OF THEM ARE FOUR, FIVE, SIX PHASES OF HOUSES THAT ARE PRE-ENTITLED. THEY JUST HAVEN'T GOTTEN TO THE POINT OF DEVELOPING THEM YET. BUT WE HAVE ENOUGH FULLY ENTITLED LOTS TO TAKE US TO AROUND 90,000. IN CURRENT POPULATION AND THAT'S IN THE CITY LIMITS TODAY. [00:15:02] I THINK WE'RE GOING TO END UP AROUND 150,000, QUITE HONESTLY, AND THEN OUR SERVICE AREA FOR WATER AND SEWER WILL BE CLOSER TO A QUARTER MILLION. SO IT'S GOOD TO HAVE STEADY GROWTH. SOMETIMES TOO RAPID A GROWTH TAKES A WHILE TO CATCH UP, BUT YOU PLAY THE CARDS, YOU'RE DEALT. AND WE'VE GOT THESE, THEY'VE GOT THEIR FULL ENTITLEMENTS. I MEAN, THE WORD ENTITLEMENT MEANS YOU'RE ENTITLED TO BUILD. ALL YOU HAVE TO DO IS ASK FOR THE PERMIT AND PAY FOR IT. AND SO I THINK WE WILL GROW BETWEEN 01,600 AND 2,000 SINGLE-FAMILY PERMITS FOR SIX YEARS, WHICH IS EASIER. UNLESS THERE'S ALREADY A WEAKENING IN THE REAL ESTATE MARKET NATIONALLY, IT'S FINALLY STARTING TO HIT DALLAS AND THE NORTH TEXAS AREA A LITTLE BIT. IT'S NOT GOING TO HIT US. IT'S A LITTLE BIT INSULATED, THANK GOODNESS, BUT IT'S STILL GOING TO HIT US. AND SO REALLY THE QUESTION IS, REALLY WHAT IS OUR CAPACITY? WE KNOW WHAT IS ENTITLED. WE KNOW WHAT THE BUILDERS ARE BUILDING. BUT AT WHAT POINT DO THOSE START STAYING ON THE MARKET 40, 60, 90 DAYS INSTEAD OF, I MEAN WHEN I MOVED HERE I BOUGHT MY HOUSE WHEN IT WAS HALF BUILT. BECAUSE IF I DIDN'T, SOMEBODY ELSE WOULD HAVE BEFORE I COULD HAVE GOTTEN TO IT. HOPEFULLY THAT ANSWERS YOUR QUESTION. I THINK WE'VE GOT ENOUGH IN THE KEY TO GET US TO ABOUT 90,000 PEOPLE. THAT'LL HAPPEN OVER A PERIOD OF TIME, BUT THAT'S AS WE SEE IT TODAY. THAT'S A SNAPSHOT. THAT'S NOT A MOVING VIDEO. AND THAT DOES ANSWER PART OF IT, BUT YOU JUST SAID, AND THANK YOU FOR THAT, YOU SAID 90,000 ROUGHLY IS KIND OF THE GOAL. WHAT WOULD HELP GREATLY, AND THIS IS JUST FOR ME TO UNDERSTAND IT, AND I DON'T KNOW IF I'M SPEAKING FOR ANYBODY ELSE, IS IF WE KNEW, AGAIN, WHERE WE'RE AT VERSUS THE 90,000, AND THEN HOW DO WE COMPARE THAT AGAINST THE OTHER CITIES. SO TAKE, FOR EXAMPLE, IF YOU GO BACK TO THAT JULY 2026 THAT SAYS 130 FOR US, AND IT SHOWS MCKINNEY, THEIR NUMBERS AREN'T IN YET, BUT LET'S JUST SAY THEY'RE AT 130. WE'RE NOT COMPARING APPLES TO APPLES, SO IT WOULD HELP TO SEE I'M THINKING ABOUT IF YOU LOOK AT SPORTS, RIGHT, IF YOU LOOK AT OKAY. EVERY TEAM MIGHT HAVE THE SAME RECORD, BUT IF THEY'RE PLAYING IN DIFFERENT DIVISIONS OR DIFFERENT... SURE. THAT WOULD HELP GREATLY, JUST TO HAVE SOME RELATION TO THE NUMBERS, THAT WOULD HELP IF WE COULD FIGURE THAT OUT. AND IT DOESN'T HAVE TO BE EXACT, IT WOULD OBVIOUSLY BE ESTIMATES. AND AS YOU LOOK AT ALL OF THESE, AND ALL OF THOSE WILL BE ESTIMATIONS, RIGHT? I MEAN, I DON'T HAVE A MAGIC WAND IF I UNDERSTOOD THE QUESTION CORRECTLY, BUT WHEN YOU LOOK AT THE NUMBERS, WE'RE DOWN... AND WE'RE STILL ONE OF THE TOP THREE OUT OF THE DOZEN CITIES THAT ARE IN HERE. AND YOU'RE CORRECT. WE GET OUR BUILDING PERMITS DIRECTLY FROM OUR DEVELOPMENT SERVICES DEPARTMENT BEFORE WE GET THE SPREADSHEET WITH ALL THE OTHER CITIES. WE GET THOSE FROM AN OUTSIDE SOURCE. SO IT'S ALWAYS GOING TO SHOW OUR NUMBER A LITTLE BIT A MONTH AHEAD OF EVERYBODY ELSE. JUST TO PUT IT IN PERSPECTIVE, SINCE YOU ASKED THAT QUESTION, AND I'M KIND OF GOING OFF THE TOP OF MY HEAD. BUT WE'VE GOT, I'VE CREATED THREE MAPS SHOWING POPULATION. ONE IS POPULATION OF THE CITY. THE LAST TIME I DID THAT CALCULATION, IT WAS DECEMBER OF LAST YEAR. IT WAS 48,352. THEN WE DID ETJ. IT WAS RIGHT AT 60,000. AND THEN I DID ONE SHOWING WHAT WILL BE THE ETJ ONCE WE ANNEX ALL THE SHORELINE, AND IT WAS ALMOST 80,000 TODAY. AND WE ARE AT THAT POINT WHEN I DID IT IN DECEMBER. SO WE HAVE A POPULATION IN OUR CITY, BUT THEN WE ALSO HAVE A MARKET POPULATION THAT COMES HERE FOR EVERYTHING, THE PENINSULAS. THEY COME NORTH. I MEAN, SOME OF THEM GO TO WILEY. SO WE'VE GOT TO KEEP THAT IN MIND AS WELL. OKAY, THAT HELPS. THANK YOU. ANY OTHER QUESTIONS ON THAT? GOOD QUESTION. GOOD ENOUGH QUESTION WAS HARD FOR ME TO ANSWER. FINANCIALS, THE COLUMN... LOOK AT IS PERIOD ACTIVITY. AS YOU WILL SEE, THERE ARE NO EXTRAORDINARY EXPENSES. A VERY LIGHT MONTH OVERALL. $14,000 ON TOTAL EXPENSES, INCLUDING OUR TRANSFER OUT TO THE CITY OF $62.50, AND THAT'S PER OUR CONTRACT WITH THE CITY FOR ANNUAL PAYMENT FOR OUR OFFICE SPACE, USE OF OFFICE EQUIPMENT, ACCESS TO ALL THE DEPARTMENTS, THAT TYPE OF THING. AND AGAIN, OUR INCOME WAS STRONG. WE ARE, AND KEEP IN MIND AS WE DO SALES TAX, ALTHOUGH WE'VE ONLY GOT ANOTHER MONTH IN THIS FISCAL YEAR, SALES TAX IS TWO MONTHS [00:20:01] IN ARREARS, SO WE STILL HAVE THREE MONTHS OF SALES TAX TO COME IN TO GO TOWARDS OUR OVERALL FISCAL YEAR. ALL OF THAT LOOKS STRONG. I'M HAPPY TO ANSWER QUESTIONS ON THE BUDGET REPORT, AND THEN THE BALANCE SHEET BASICALLY IS OUR FUND BALANCE AT THE END OF LAST MONTH IS RIGHT AT $13 MILLION. SO WE HAVE A HEALTHY FUND BALANCE, ALTHOUGH IN WHAT WE DO, TWO OR THREE LARGE PROJECTS CAN WHITTLE THAT DOWN SIGNIFICANTLY. AND I'M MORE THAN HAPPY TO ANSWER QUESTIONS ON THE FINANCIALS. THEY'RE VERY STRAIGHTFORWARD. JIM, I'M SORRY, ONE QUESTION, JUST SO I'M READING THIS CORRECTLY. AGAIN, IF I'M READING THIS CORRECTLY, IT SHOWS THAT OUR NO, SORRY, SORRY. I GOT THE ANSWER. FORGET IT. OKAY. SORRY. OKAY. IF WE HAVE NO MORE QUESTIONS, I'LL MOVE TO THE BOARD REPORT ITEMS. CDC, EDC I'M NOT SURE WHY THAT'S EDC BOARD OF DIRECTORS REPORT ABOUT ITEMS OF COMMUNITY INTEREST ON WHICH NO ACTION WILL BE TAKEN. ANYBODY HAVE ANYTHING? SURE. SORRY, I DID FIND MY QUESTION HERE, AND IF I'M READING THIS, IT'S VERY GOOD NEWS. BACK TO THE BALANCE SHEET, I'M LOOKING AT THE VERY BOTTOM. IT SHOWS TOTAL REVENUE, 2.8 MILLION, TOTAL EXPENSES, 475, MEANING WE HAVE A SURPLUS OF 2.365. IS THAT CORRECT? IT'S UP TO THAT. AND HOPEFULLY, THAT MONEY DOESN'T HAVE TO BE SPENT. IT CAN ROLL? YES. ANYTHING THAT DOESN'T GET SPENT IN THESE CORPORATIONS BY LAW HAS TO STAY IN THESE CORPORATIONS' BANK ACCOUNTS. THEY CAN'T GO INTO A CITY GENERAL FUND. THEY CAN'T BE TRANSFERRED OUT. THEY WILL ROLL. WE'LL EITHER DO ONE OF TWO THINGS. SOMETIMES THERE'S A PROJECT THAT WE MAY HAVE AN ECONOMIC DEVELOPMENT PROJECT WE'VE COMMITTED A MILLION DOLLARS TO. WELL, WHEN YOU COMMIT TO THE PROJECT, YOU DON'T KNOW THE EXACT TIME FRAME THAT IT'S ACTUALLY GOING TO HAPPEN BECAUSE WE'RE GENERALLY NOT THE ONES BUILDING IT. AND SO WE MAY HAVE TO KEEP THAT LINE ITEM AND ROLL IT TO THE NEXT FISCAL YEAR IF IT DOESN'T GET BUILT WITHIN THAT FISCAL YEAR. THE STUFF THAT IS NOT SPECIFIC PROJECT THAT GETS ROLLED, IF IT DOESN'T GET ROLLED OVER TO THE SAME LINE ITEM NEXT YEAR, IT GOES INTO OUR FUND BALANCE. GOOD. THANK YOU. YES, SIR. OKAY. WE'LL GO BACK TO THE BOARD REPORT ITEMS IF ANYBODY HAS ANYTHING. I WOULD LIKE TO SUGGEST IF ANY [H. BOARD REPORT ITEMS] OF YOU HAVE THE OPPORTUNITY AT 730 IN THE MORNING. TO ATTEND THE CHAMBER BREAKFAST. I DID IT THIS MORNING, AND THERE WERE A NUMBER OF PEOPLE THERE TALKING ABOUT THEIR BUSINESSES, WHICH WAS GREAT. SO I WOULD HIGHLY RECOMMEND IT. BETH CAN TELL US WHAT THE DATE IS. THIRD TUESDAY. ALL RIGHT, THANK YOU, BETH. AND WE'LL MOVE TO PRESENTATIONS. FIRST IS I-1 [I. PRESENTATIONS] SSD FRISCO PHASE I UPDATE. IS THAT YOU, MR. WEHMEYER? IS THAT YOU? OR? WE'VE GOT THE DEVELOPER, BOARD MEMBER WALKER, ASKED FOR TWO UPDATES LAST BOARD MEETING, AND THEY'RE BOTH HERE TONIGHT TO GIVE US UPDATES ON THEIR PROJECTS. THESE WERE PROJECTS THAT HAPPENED BEFORE I ARRIVED HERE, BUT I DON'T WANT TO BURY THE LEAD. THEY'VE BOTH MET ALL OF THEIR OBLIGATIONS. THEY'RE BOTH DOING VERY, VERY WELL, BUT I WANT TO GIVE THEM AN OPPORTUNITY TO SHARE THEIR SUCCESS WITH YOU ALL. THANK YOU, JIM. THANK YOU, AND GOOD EVENING, EVERYONE. THANKS FOR THIS OPPORTUNITY TO PRESENT MYSELF HERE TO GIVE AN UPDATE ON WHAT I'VE DONE TO MY PROJECTS THAT I'VE DONE AND WHAT I'M PROPOSING THAT I'M MOVING FORWARD WITH COMING SOON. JUST A LITTLE BACKGROUND THAT I'VE BEEN ASSOCIATED WITH CITY OF PRINCETON SINCE 2013. I OPENED A PHARMACY, I'M A PHARMACIST BY PROFESSION TO START WITH, SO I OPENED THE PHARMACY BRAND NEW INDEPENDENT LOCAL PHARMACY. AND THEN THAT'S IT'S BEEN STILL RUNNING TODAY OBVIOUSLY AND AND I HAVE STARTED WE STARTED TO OVERGROW THAT SPACE THAT I WAS IN THERE AND THEN I BUILT THE PHARMACY BUILDING WHICH YOU COULD SEE ON THE SLIDE IS WHICH IS 28,000 SQUARE FOOT SMALL BUILDING WHICH HOUSES THE PHARMACY. ALONG WITH A TENANT NAMED OG CHOP SHOP, WHICH IS A HAIRCUT SALON. SO THAT'S HOW MY REAL ESTATE SIDE OF THINGS HAVE STARTED AND STARTED, YOU KNOW, DOING MORE IN PRINCETON. AND ASSOCIATION HAS GROWN THERE. THAT'S WHERE THEY STARTED IN TERMS OF THE REAL ESTATE SIDE. AND THEN IN 2019, I HAVE ACQUIRED, IF YOU GO TO THE NEXT SLIDE. A PIECE OF LAND RIGHT NEXT TO THE BIG FLAGS. I'M SURE YOU PROBABLY HAVE SEEN THIS BUILDING DRIVING BACK AND [00:25:01] FORTH. AND THEN WE BUILT IT AND FINISHED UP AND IT'S 100% LEASED BY 2023. IT CURRENTLY HOUSES SIX TENANTS AND PRODUCING THE SALES TAX AND THE PROPERTY TAX AS IT'S PROPOSED. AND I DO APPRECIATE EDC, CDC, AND THE CITY COUNCIL, AND CDE FOR ALL THE SUPPORT THAT I'VE GOT COMPLETING THAT PROJECT. THAT WAS ACTUALLY DURING THE DIFFICULT TIMES DURING THE COVID. YOU KNOW, THAT'S WHEN I STARTED THE PROJECT, BUT I WAS ABLE TO, WITH THE HELP OF CDE AND EVERYBODY ELSE, I WAS ABLE TO COMPLETE THE PROJECT. AND THANKFULLY, I MEAN, GLADLY, I WAS ABLE TO COME FULLY OCCUPIED WITH TENANTS. WE CAN GO TO THE NEXT SLIDE. LIKE I SAID, ALONG WITH THE SALES TAX AND THE PROPERTY TAX IT'S GENERATING, IT ALSO AT THIS POINT OF TIME, I HAVE INQUIRED AND FIND OUT THAT EACH BUSINESS THAT IT HOUSES HAS SOME FULL-TIME AND PART-TIME EMPLOYEES. PIZZA HUT, DENTAL STUDIO, THERE'S A HEARTWORKS AND TROPICAL SMOOTHIE AND NAIL SALON AND A VAPE SHOP. ALTOGETHER IT HAS 32 FULL-TIME AND 32 PART-TIME AT THIS POINT OF TIME. AND I WAS GLAD THAT I COULD BRING TWO NEW FRANCHISES IN TOWN, WHICH IS TROPICAL SMOOTHIE AND HEARTWORKS, THAT WERE NOT THERE IN PRINCETON BEFORE. SO, THAT'S THE UPDATE ON THAT. THAT'S BEEN FINISHED AND LEASED OUT AND IT'S BEEN OPERATING WELL. THEN I ALSO WANTED TO JUST INTRODUCE THE NEXT PROJECT THAT I'M UNDERTAKING, JUST AS A BRIEF. I KNOW THAT'S NOT ON THE AGENDA. I AM ACTUALLY DEVELOPING THE INTERSECTION MYRICK AND BEECHAM ON THE SOUTH SIDE, SOUTHEAST AND SOUTHWEST CORNER OF BOTH OF THE INTERSECTION, WHICH IS ONE IS AT YOU KNOW ABOUT 2.5 ACRES AND OTHER IS ABOUT 3.12 ACRES. IT'S GOING, I'M PROPOSING A MIXED-USE DEVELOPMENT WITH RETAIL AND OFFICE SPACES AND WE ALSO HAVE A DAYCARE THAT WHO IS INTERESTED TOO. BE PART OF IT IN THAT DEVELOPMENT. SO IF YOU CAN GO TO THE NEXT SLIDE. THIS IS JUST A BASIC CONCEPT PLAN OF WHAT WE ARE TRYING TO ACHIEVE. THAT'S WHAT WE PUT TOGETHER. SO IT'S GOING TO HOUSE ABOUT 21,000 SQUARE FOOT OF RETAIL SPACE WITH THE TENANTS AND WITH AN OFFICE SPACE OF 8,000 SQUARE FOOT ON ONE SIDE, OR ABOUT 10,000 RETAIL AND ABOUT 08,000 SQUARE FOOT OF OFFICE ON ONE SIDE WITH A DRIVE-THROUGH PAD. YOU KNOW, 01,000 TO 2,000 SQUARE FOOT, AND THEN ANOTHER 10,000 TO 11,000 OF RETAIL ON THE OTHER SIDE WITH A DAYCARE OF ABOUT 10,000 SQUARE FOOT IS WHERE WE STAND RIGHT NOW. BUT AGAIN, THIS ALL CAN CHANGE, AND I DO WANT TO ASK THE BOARD FOR ANY CONTRIBUTION, ANYTHING THAT I CAN WORK IN PARTNERSHIP WITH THESE BOARDS TO BRING ANY BUSINESS THAT THEY WOULD LIKE TO SEE IN THERE THAT WOULD BE A WIN-WIN SITUATION. SO I HAVE SOME NUMBERS THAT, YOU KNOW, OBVIOUSLY I CAN COME UP LATER AT ANOTHER MEETING TO PRESENT WHAT THE ECONOMIC IMPACT THAT IT'S GOING TO LOOK LIKE, BUT AGAIN THIS IS JUST AT THE PRELIMINARY STAGE. I JUST THOUGHT I WOULD, YOU KNOW, MENTION THIS AND ASK FOR ANY, YOU KNOW, ANY PARTNERSHIP THAT WE CAN WORK TOGETHER. A COUPLE THINGS VERY QUICKLY AS HE WRAPS UP. HE FAR EXCEEDED THE EMPLOYMENT GOALS AND THINGS OF THE CONTRACT IN PHASE 1, BUT ALSO WE'VE CLOSED THE INCENTIVE OUT AS WELL. SO WE'VE PAID OUT THE INCENTIVE THAT WE OWE HIM. WE HAD A MEETING AND CONFIRMED THAT LAST WEEK, WEEK BEFORE. YEAH. AND HE HAS FULFILLED EVERYTHING HE NEEDS TO ON PHASE 1. BLESS YOU. HE DID WANT TO. LET THE BOARD KNOW THAT THERE WILL BE A PHASE TWO. AND ONE OF THE THINGS THAT HE BROUGHT UP TO ME THAT HE WOULD LIKE TO HEAR FROM ANYBODY IS IN A NEIGHBORHOOD RETAIL LIKE THAT, ANY SPECIFIC RETAILERS THAT WE FEEL, TYPES OF RETAILERS THAT WE FEEL ARE MISSING HERE THAT WE WOULD LIKE TO SEE THERE. I HEAR ALL THE TIME, YOU KNOW, SOMEBODY GOES TO DEVELOP A PIECE OF LAND, THEY SAY, OKAY, NO MORE DENTISTS AND NO MORE NAIL SALONS. WELL... HONESTLY, IF THEY FIT IN THE ZONE, WE CAN'T STOP THEM. YOU KNOW, WE DON'T RECRUIT THEM, BUT, YOU KNOW, IF IT FITS IN THE NEIGHBORHOOD RETAIL, BUT IF HE GETS SOME SUGGESTIONS OF THINGS THAT WE REALLY FEEL LIKE WOULD WORK IN THAT AREA, HE CAN GO OUT AND TRY TO RECRUIT THAT SPECIFIC TYPE OF RETAILER. YES, YES. THANK YOU, JIM. I APPRECIATE THAT. YEAH, I WOULD LIKE TO, AND THIS IS, AGAIN, THIS IS NOT ON 380. I'M, YOU [00:30:01] KNOW, BRINGING SOMETHING OFF OF 380 AND HOPEFULLY... ANOTHER INTERSECTION WHERE WE CAN BUILD AND GENERATE THE REVENUE AND BRING MORE BUSINESSES INTO TOWN. SO, AGAIN, I APPRECIATE THE OPPORTUNITY. THANK YOU. AND ANY QUESTIONS, I WOULD BE GLAD TO. HAVE YOU COMPLETED THE PAPERWORK? IS THERE ANY OTHER INCENTIVES? OKAY. A SPORTS BAR WOULD BE NICE. THANK YOU. THANKS. AND I WANT TO, TO JIM'S POINT, I WANT TO COMPLIMENT, BECAUSE I WAS ON THE BOARD WHEN YOU STARTED THE PROCESS WITH THE PHARMACY AND THEN THE OTHERS, BUT THE STRIP MALL AND WHERE PIZZA HUT IS, IT LOOKS GREAT. GREAT JOB. THANK YOU. APPRECIATE THAT. YEAH. AND I WILL KEEP UP, YOU KNOW, EVEN THE PRINCETON, I MEAN, THE PHARMACY BUILDING AND THE, YOU KNOW, THE LOOK ARCHITECT'S WIDE, I USUALLY MAKE SURE THAT IT STANDS OUT. SO THAT'S WHAT I DID WITH THE PHARMACY AND THE RETAIL CENTER THAT I'VE DONE. I'M WILLING TO DO THAT SAME THING WITH THE AMERICAN BEACH AND METRO DISTRICT. I DO WANT TO GET ANY HELP, ANY PARTNERSHIP THAT I CAN GET FROM YOU GUYS. APPRECIATE THAT. THANK YOU. WE WILL REMAIN IN TOUCH. THANK YOU FOR COMING. I ASKED FOR THIS BECAUSE IT DOESN'T STOP AT THE DEVELOPMENT AGREEMENT. IT IS BUSINESSES LIKE YOU AND INVESTORS AND DEVELOPERS LIKE YOU THAT HAVE KEPT THIS CITY AFLOAT UNTIL WE GET THE LARGE BUSINESSES THAT WE WANT TO SEE AND WE NEED TO ACKNOWLEDGE IT AND WE NEED TO KEEP EYES ON YOU TO MAKE SURE THAT YOU ARE GOOD. WE DON'T WANT YOU TO LEAVE. WE DON'T WANT TO FIND OUT THAT YOU'RE LEAVING AND THEN WE CANNOT HELP YOU. SO WE NEED REGULAR UPDATES, AS REGULAR AS POSSIBLE. BUT I DO FEEL LIKE THIS IS A DEVELOPER THAT WE SHOULD CONTINUE TO SUPPORT. HE HAS INVESTED IN OUR COMMUNITY NOT ONCE, NOT TWICE, BUT THREE TIMES. ALSO, WITH THAT MYRICK LANE POTENTIALLY, NOT EVEN POTENTIALLY, IT'S BEEN SAID BY THE COUNTY COMMISSIONER THAT MYRICK IS GOING TO BE THE NEXT 380. I WOULD IMPLORE YOU TO... YOU KNOW WHOEVER YOU ARE WORKING WITH YOUR SITE SELECTORS TO MAYBE ATTEND ICSC RETAIL LIVE AND MAYBE EVEN CONSIDER GETTING A GROCERY STORE DOWN THERE THEY MIGHT APPRECIATE THE FUTURE DEVELOPMENT OF THEIR OF THAT CORNER IF THEY CAN GET IN EARLY SO I WOULD SUGGEST GETTING DOWN THERE AND MAYBE TRYING TO FIND MAYBE NOT A HUGE GROCERY STORE BUT JUST SOMETHING I THINK PEOPLE WOULD APPRECIATE NOT HAVING TO TRAVEL 380. YES, THAT'S WHAT I'M THINKING TOO. YEAH, I APPRECIATE THAT, DISHANA. I KNOW YOU'RE ALSO INVOLVED IN THE PROCESS THAT'S HELPING ME. I DO APPRECIATE ALL THAT. YES, I WOULD BE GLAD TO, AND I'M NOT THE ONE WHO IS JUST HERE JUST TO DEVELOP ONE PROJECT AND MOVE AWAY AND DON'T WORRY. I'M HERE, I'M INVESTED IN THE TOWN, AND I'M A PHARMACIST, AND LIKE I SAID, I'M RUNNING THE PHARMACY STILL. SO ANYTHING THAT I DO, I WILL MAKE SURE THAT IT WORKS WELL FOR THE CITY, FOR THE RESIDENTS. SO THAT'S MY GOAL. YEAH, APPRECIATE IT. THANK YOU. THANK YOU. NEXT ITEM ON THE AGENDA IS I-2, AND THAT IS CHILDREN'S LIGHTHOUSE UPDATE. I THOUGHT YOU WERE GOING TO HAVE THE BOSS DO THIS. THE BOSS IS ORDERING HER EMPLOYEES TO DO HER WORK. YOU KNOW, THE SOONER YOU MAKE PEACE WITH THAT, THE SOONER YOU HAVE A HAPPY LIFE. ABSOLUTELY. SO GOOD EVENING EVERYONE. THANK YOU SO MUCH FOR THE OPPORTUNITY TO PRESENT TO YOU THE STATUS. THIS HAS BEEN GOING ON FOR A FEW YEARS AND WE TRULY APPRECIATE THE SUPPORT AND THE HELP WE RECEIVED FROM THE CORPORATION AND THE PLEASANT ENCOUNTERS. LIKE ANY PROJECT, THIS IS A FAMILY-OWNED PROJECT. WE'RE LITERALLY SUPPORTING IT WITH OUR 401K. OUR PERSONAL SAVINGS, SO IT HELPS A LOT TO KNOW THAT THE CITY AND THE CORPORATION IS ON OUR SIDE. SO WE OPENED, THIS IS CHILDREN'S LIGHTHOUSE OF PRINCETON. IF YOU DRIVE DOWN BEECHAM, YOU'LL SEE IT. THERE'S A RED LIGHTHOUSE ON TOP. WE LIGHT IT UP AT NIGHT TO SHOW PEOPLE THE WAY, HOPEFULLY, AND COME AND REGISTER THEIR KIDS WITH US. WE OPENED, WE STARTED OPERATIONS IN JULY OF LAST YEAR. SINCE THEN, WE HAVE 27 FULL-TIME EMPLOYEES. ALL OF THEM, I THINK WITH THE EXCEPTION OF ONE PERSON, ARE PRINCETON [00:35:01] RESIDENTS, AND WE HAVE A PREFERENCE IN OUR HIRING THE PRINCETON PRESIDENTS. TO PRINCETON RESIDENTS, WE OFFER A VARIETY OF SERVICES TO THE COMMUNITY. WE HAVE 10 CLASSROOMS. WE START AT SIX WEEKS FOR THE FULL-TIME PROGRAM, SIX WEEKS, SO WE TAKE THEM AS BABIES ALL THE WAY TO FIVE YEARS WHERE THEY TRANSITION TO THE KINDERGARTEN IN THE PUBLIC SCHOOLS. WE HAVE 10 CLASSROOMS AND THEY STAGGER BY SIX MONTHS, SIX MONTHS, BECAUSE AGE CORRELATION IS VERY IMPORTANT. SIX MONTHS AND THE AGE OF A TWO-YEAR-OLD IS A LIFETIME. BY THE TIME THEY GET TO MY AGE, SIX MONTHS IS A BLINK OF AN EYE. AMONG THE SERVICES WE OFFER TO THE COMMUNITY, OBVIOUSLY IT'S A PRESCHOOL, IT'S NOT A DAYCARE, JUST TO BE VERY, VERY CLEAR. WE HAVE A CURRICULUM, WE TEACH THE KIDS SKILLS, INTERACTIONS, SOCIAL INTERACTIONS WITH OTHERS, INTERPERSONAL COMMUNICATION SKILLS. WE ALSO TEACH THEM ALPHABET, MATH, AND A BUNCH OF SKILLS. BY THE TIME WE PRIDE OURSELVES, WE'RE PART OF A LARGER FRANCHISE, AND WE HAVE STUDIES THAT SHOW THAT ONCE KIDS GRADUATE FROM OUR SCHOOL AND THEY GO TO THE KINDERGARTEN, THEY'RE ABLE TO READ AT THE LEVEL OF A GRADE TWO STUDENT JUST BY GOING THROUGH OUR PROGRAM, WHICH GIVES THEM A HUGE HEAD START IN LIFE. THIS IS NOT JUST A DAYCARE, IT'S A PRESCHOOL. IT BUILDS THEIR CONFIDENCE, AND THE SKILLS YOU BUILD WITH THE KIDS AT A YOUNG AGE STAY WITH THEM. FOR THE REST OF THEIR LIVES. SO THERE'S LOTS OF RESEARCH AND STUDIES OUT THERE. ONE OF THE SERVICES WE PROVIDE TO THE COMMUNITY, WHICH IS BECOMING VERY POPULAR, IS PRE- AND AFTER-SCHOOL CARE. SO LOTS OF PEOPLE IN PRINCETON HAVE JOBS IN DALLAS, IN RICHARDSON, AND PLANO. SO THEY HAVE TO LEAVE VERY EARLY TO BEAT THAT TRAFFIC. THAT TRAFFIC ON 380? YOU'RE HEARING GOOD. AND DESHANA HEARS ME TOO. I SPOKE WITH HER BEFORE THE MEETING. SO WHAT THEY DO, THEY DROP THE KIDS. WE OPEN AT 6.30 A.M. THEY DROP THE KIDS, THE SCHOOL KIDS, UP TO 12 YEARS OLD. THEY DROP THEM IN OUR SCHOOL. WE GIVE THEM BREAKFAST. WE PROVIDE A VERY SECURE NURTURING ENVIRONMENT FOR THEM. THEY CAN DO THEIR HOMEWORK. THEY CAN PLAY WITH EACH OTHER, ETC. AND WHEN IT'S TIME FOR SCHOOL, WE BUS THEM. WE HAVE TWO BUSES. WE BUS THEM TO THEIR SCHOOLS. WE SERVE FIVE SCHOOLS IN OUR NEIGHBORHOOD. AND THEN WHEN SCHOOL IS DONE, WE GO PICK THEM UP, BRING THEM, FEED THEM. THEY SIT AND DO THEIR HOMEWORK OR THEY PLAY. THEY HAVE A STRUCTURED TIME. AND THEN THE PARENTS COME. WE'RE OPEN 6.30 A.M. TO 6.30 P.M. THE PARENTS CAN COME AND PICK THEM UP AND TAKE THEM HOME. SO IT'S A ONE-STOP SHOP. THEY TAKE THEIR KIDS IN ONE PLACE, WE TAKE CARE OF THEM, AND THEN THEY COME AND PICK THEM UP. SO THIS IS VERY POPULAR. SO THIS PRETTY MUCH COVERS IT. SO, YOU KNOW, WE STARTED OUR BUSINESS PLAN THAT WE PRESENTED TO THE COUNCIL, CALLED FOR 12 FULL-TIME EMPLOYEES, I THINK, FIRST YEAR. WE'RE AT 27 NOW, SO WE'RE DOING VERY WELL. WE'RE NEAR FULL CAPACITY IN TERMS OF EMPLOYMENT. AND, YOU KNOW, HOPEFULLY THE CITY AND THE COMMUNITY APPRECIATE THE SERVICES WE PROVIDE. HOW'S THE ENROLLMENT GOING? THAT'S GOING WELL AS WELL, CORRECT? YES, SO WE ARE NOW AT 165 KIDS. WOW. WE WERE ACTUALLY AT 180 BECAUSE OF OUR PROGRAM. SO ANOTHER SERVICE WE PROVIDE IS A SUMMER PROGRAM FOR ELEMENTARY SCHOOL KIDS. YOU KNOW, INSTEAD OF THE PARENTS LEAVING THEM PLAYING IN THE STREETS, LIKE WHAT MY PARENTS DID TO ME WHEN I WAS THAT AGE, THEY SIGNED THEM UP WITH OUR SCHOOL, AND WE TAKE CARE OF THEM, WE TEACH THEM. VERY, VERY IMPORTANT TO GUIDE THE KIDS IN A STRUCTURED LEARNING ENVIRONMENT AND HOPEFULLY BY THE TIME THEY GO BACK TO SCHOOL THEY HAVEN'T FORGOTTEN EVERYTHING THEY HAD LEARNED IN THE YEAR BEFORE LIKE WHAT I USED TO DO WHEN I WAS IN THEIR AGE. ANY QUESTIONS? WELL I ATTENDED THEIR GRAND OPENING AND IT'S AN INCREDIBLE FACILITY AND IF I DON'T KNOW IF YOU ALL WOULD BE UP FOR IT ON A TIME THAT YOU'RE NOT REALLY BUSY IF THE BOARD WANTED TO, BUT I WOULD... I ENCOURAGE YOU ALL TO GET KIND OF A TOUR THROUGH THE FACILITY AND SEE WHAT THEY'VE DONE. EVEN THE OUTDOOR PLAY AREA IS REALLY, REALLY NICE. THE ACADEMICS OF IT, WHEN I THINK OF A SIX-MONTH-OLD, I DON'T THINK OF ACADEMICS. BUT TO YOUR POINT, YOU'RE TEACHING THEM JUST RELATIONAL THINGS, HOW TO DEAL WITH THINGS AROUND THEM, DEAL WITH OTHER CHILDREN, DEAL WITH... ANYWAY, I WAS PRETTY BLOWN AWAY. SO WELL DONE. THANK YOU. I THINK IT'S FANTASTIC JUST TO SEE WHAT YOU'VE ACCOMPLISHED, [00:40:01] YOU KNOW, BECAUSE WE PUT THESE DEALS TOGETHER, AND SOMETIMES YOU DO IT FOR TAX REVENUE, AND SOMETIMES IT'S FOR DOING THE RIGHT THING FOR THE CITY. BUT IT SOUNDS LIKE YOU'RE DOING A LOT OF GOOD IN A LOT OF KIDS' LIVES. THANK YOU. UNFORTUNATELY, WE DON'T CHARGE SALES TAX, SO WE CANNOT CONTRIBUTE TO THAT PART, BUT WE'RE CONTRIBUTING IN TERMS OF EMPLOYMENT. SOMETIMES THERE'S THINGS MORE IMPORTANT. YES. AND PEOPLE MOVING TO PRINCETON, YOU KNOW, MOSTLY THE YOUNG GENERATION, THE YOUNG KIDS. MY KID JUST GOT MARRIED, AND HE CAN'T AFFORD ANYTHING IN RICHARDSON OR PLANO. SO HE ACTUALLY FOUND A PLACE IN SACHSE. SO SAME THING WITH OTHER YOUNG GENERATION, YOU KNOW, NEWLYWED COUPLES, YOUNG PEOPLE. HAVING KIDS AND HAVING A GOOD PRESCHOOL IN THE NEIGHBORHOOD IS VERY IMPORTANT FOR THEM TO MAKE A DECISION WHERE THEY WANT TO LIVE. I JUST WANT TO SAY THANK YOU FOR COMING. THANK YOU FOR THE UPDATE. LIKE I SAID BEFORE, WE JUST, WE NEED TO MAKE SURE WE HAVE EYES ON YOU GUYS. AND, YOU KNOW, IF YOU NEED HELP, AND IF YOU'RE STRUGGLING, PLEASE REACH OUT TO JIM BEFORE WE CLOSE THE DOORS. NOT THAT WE WANT THAT TO HAPPEN, BUT WE JUST NEED TO STAY IN CONTACT. IT DOESN'T STOP AT THE DEVELOPMENT AGREEMENT. ABSOLUTELY. IT WILL BE OUR PLEASURE. AND WE WELCOME ALL OF YOU. IF YOU WOULD LIKE, WE CAN SCHEDULE A TIME AT YOUR CONVENIENCE AND, YOU KNOW, EVEN A WEEKEND, IF YOU LIKE, WE'LL GIVE YOU A TOUR OF THE FACILITY AND WE CAN ANSWER MORE DETAILED QUESTIONS. OKAY? THANK YOU SO MUCH. THANK YOU. I WANT TO THANK BOTH THESE ENTREPRENEURS FOR COMING UP TODAY. IT'S EXAMPLES LIKE THESE TWO INDIVIDUALS RIGHT HERE THAT KEEP PRINCETON MOVING. YOU KNOW, WE LOOK FORWARD. TO HEAR FROM THE STORY, WE'RE HEARING THE STORIES FROM YOU GUYS AND YOU KNOW WE WANT TO YOU KNOW FOR THE PEOPLE THAT'S LOOKING AND WATCHING WE WANT TO HEAR MORE STORIES FROM THE ENTREPRENEURS OUT THERE THAT'S BRINGING BUSINESS TO PRINCETON THAT'S HELPING OUT THE FAMILIES OF THE KIDS HERE IN PRINCETON. SO WE WANT TO THANK YOU GUYS FOR COMING UP AND SHARING YOU GUYS EXPERIENCE AND ALL YOU GUYS SUCCESSFUL 10 YEARS HERE IN PRINCETON. SO THANK YOU GUYS. OKAY, WE'LL MOVE TO ITEM J ON THE AGENDA, THE 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 SEPARATE DISCUSSION OF THESE ITEMS UNLESS A BOARD MEMBER SO REQUESTS IN WHICH THE EVENT THE [J. CONSENT AGENDA] ITEM WILL BE REMOVED FROM THE CONSENT AGENDA AND WILL BE CONSIDERED IMMEDIATELY AFTER APPROVAL OF THE REMAINING CONSENT AGENDA. WE HAVE... I-1 IS APPROVAL OF THE JULY 21ST, 2026 REGULAR MEETING MINUTES, AND THEN I-2 IS APPROVAL OF THE AUGUST 6TH, 2026 SPECIAL MEETING MINUTES, AND THEN I-3 IS THE APPROVAL OF PEDC FINANCIAL STATEMENT. ANY QUESTIONS? NO, IT SHOULD BE JAY. AND I APOLOGIZE FOR THE NUMBERING. GRANICUS IS THE SYSTEM THAT WE IN THE CITY USES, AND WE HAVE BEEN FIGHTING IT CONSTANTLY. THERE'S A BUG IN THEIR SYSTEM THAT WON'T ALLOW US TO TRANSITION FROM ONE FORMAT TO THE OTHER, SO I APOLOGIZE FOR SOME OF THE NUMBERING MISCUES. SORRY, THOSE SHOULD ALL BE I. J. THANK YOU. CAN WE PULL THE SPECIAL MEETING MINUTES, WHAT IS IT, I2, IN THE REGULAR? IT'LL BE J2. J2? SORRY ABOUT THAT. THAT WAS MY CORRECTION. IT'S GOING TO BE J2 UNDER F, REGULAR AGENDA F1. IT IS NOTED IT SAYS TREASURER THORNTON, MOTION TO APPROVE THE PROPOSED EDC BUDGET. I BELIEVE HE IS ON THE CDC BOARD, AND THEN IT SAYS DIRECTOR HENDERSON SECONDED. WE DON'T HAVE A THORNTON ON THE BOARD. OR HENDERSON. I CAN MAKE A MOTION TO APPROVE. IS IT J1? J1 WITH THE EXCEPTION OF J2 AND J3. I'M SORRY. SO LET ME MAKE THAT AGAIN. I MAKE A MOTION TO APPROVE J1 AND J3 AND BRING J2 BACK FOR APPROVAL WITH CORRECTIONS. A SECOND. GARY, ARE WE DOING A ROLL CALL VOTE OR TRYING? THERE YOU GO. [00:45:10] IS IT LIVE? YEAH, THERE YOU GO. TAKE MR. MILLER. THERE YOU GO. AND THAT PASSES 5-0. THANK YOU. AND WE'LL MOVE TO ITEM K, THE REGULAR AGENDA. DISCUSSION AND POSSIBLE ACTION REGARDING THE FOLLOWING ITEMS. K-1 IS SELECTION OF AN EDC-CDC ATTORNEY. WILL THAT GO TO YOU, MR. WEHMEYER? YES, SIR. SO, AS YOU ALL KNOW, [K. REGULAR AGENDA] BOTH THE CITY AND THE EDC AND CDC ARE LOOKING FOR NEW LEGAL REPRESENTATION. WE HAVE INTERIM LEGAL REPRESENTATION, OBVIOUSLY, WITH US TONIGHT. A FIRM THAT HAS BEEN WITH THE CITY FOR ALL OF THEIR MEETINGS. WE ARE GOING THROUGH THE SAME GRADING PROCESS THAT THE CITY HAS GONE THROUGH FOR THEIR CITY ATTORNEY, BUT THERE ARE THREE OPTIONS, AND WE'VE DISCUSSED ALL THREE. WE CAN USE THE SAME ATTORNEY THAT THE CITY USES. WE CAN USE A COMPLETELY DIFFERENT LAW FIRM, OR WE CAN USE THE SAME LAW FIRM BUT REQUEST A DIFFERENT ATTORNEY IN CASE THERE ARE ANY CONFLICTS THAT COME UP. EXCUSE ME. WE ARE IN THE PROCESS OF GRADING. I HAVE GRADED MINE. I THINK MR. THOMPSON, CHAIRMAN THOMPSON, HAS GRADED. WE'RE WAITING FOR SEVERAL BOARD MEMBERS TO FINISH THAT GRADING, TAKE IT DOWN TO PROBABLY A FINAL TWO OR THREE, AND THEN WE'LL SCHEDULE AN INTERVIEW WITH THE FINAL TWO OR THREE. BUT WE ARE NOT THERE YET. WE DO HAVE SOME GOOD CANDIDATES, INCLUDING THE FIRM THAT IS OUR INTERIM, AND AS A MATTER OF FACT, THE ATTORNEY THAT IS OUR INTERIM. IS ONE OF THE OPTIONS. SO WE HOPE TO BRING THAT BACK NEXT MONTH WITH SOME FURTHER INFORMATION. BUT UNTIL THAT TIME THAT WE DECIDE UPON WHAT WE'RE GOING TO DO, WE WILL CONTINUE USING THE INTERIM ATTORNEY SERVICES THAT WE HAVE TODAY. AND I'M HAPPY TO ANSWER ANY QUESTIONS. IT'S AN ELECTRONIC GRADING. AND SO YOU'LL, I BELIEVE, ALBERT, YOU'LL GET A REMINDER WITH A LINK, SO ALL YOU HAVE TO DO IS CLICK ON THAT LINK. I WILL TELL YOU IT'S A LITTLE BIT CONFUSING BECAUSE WHEN YOU OPEN IT, IT'LL SAY CLOSED. THAT JUST MEANS THEY'RE NOT TAKING ANY MORE RFQ RESPONSES. THAT DOESN'T MEAN THE GRADING'S CLOSED. IT JUST MEANS THERE'S NO MORE LAW FIRMS THAT CAN APPLY BECAUSE THAT'S WHAT I THOUGHT WHEN I LOGGED IN. YEAH, I FIGURED IT OUT TODAY WITH A LITTLE HELP, SO I'M GOING TO GET THAT DONE. GOOD DEAL. AND I'LL BE HAPPY TO ANSWER ANY QUESTIONS. ALL RIGHT, WE'LL MOVE TO ITEM K2, STAFFING STUDY. MR. WEIMAR? OKAY. BOTH BOARDS HAVE DISCUSSED THIS. WE CAME TO AN AGREEMENT, I BELIEVE, BEFORE I WAS OUT FOR A PERIOD OF TIME ON SEVERAL CITIES, WHICH YOU SEE LISTED IN FRONT OF YOU TO LOOK AT THE STAFFING. AND ONE THING THAT... ONE THING THAT YOU'LL LEARN IS IT REALLY DOESN'T GO BY INCOME OR SIZE OF CITY. IT'S JUST KIND OF ALL OVER THE PLACE. AND I'LL GIVE YOU, FOR INSTANCE, ANNA HAS FIVE STAFF MEMBERS. MELISSA HAS ZERO. THEY DO IT WITH THEIR ASSISTANT CITY MANAGER AND CITY MANAGER. PROSPER HAS TWO, WHICH RAPID-GROWING CITY. CAN WE PUT THAT UP, CARRIE, ON THE OVERHEAD? THE STAFFING STUDY? YEP, THE MEMO WITH THE STAFFING. IT SHOULD BE ON THE AGENDA LINK. THERE YOU GO. AND WE CAN LOOK AT THE SCREEN. SO WE SIT AT TWO CURRENTLY WITH CEO AND EXECUTIVE ASSISTANT. THERE'S BEEN TALK OF ADDING. HONESTLY, TODAY, THERE'S NOT AN EMPTY DESK ANYWHERE IN CITY HALL. THERE ARE SOME PLANS TO MOVE SOME STAFFING AROUND. IN THE SEPTEMBER-OCTOBER TIMEFRAME, SO THERE MAY BE SOME OPPORTUNITY THERE. HOPEFULLY THERE WILL BE SOME OPPORTUNITY THERE. BUT I'LL JUST, CELINA HAS SIX. LITTLE ELM HAS THREE, BUT THEY SHARE THEIR CEO WITH THE CHAMBER OF COMMERCE AND I THINK ONE OTHER EMPLOYEE. WILEY HAS FIVE. PROSPER HAS TWO. GREENVILLE HAS THREE. SO THEY HAVE BASICALLY A CEO, AN ADMIN, AND THEN BASICALLY A PROJECT MANAGER. ANNA HAS FIVE, SAXE HAS TWO, AND MELISSA HAS ZERO. I THOUGHT IT WAS INTERESTING TO LOOK AND SEE THAT THE NUMBERS REALLY DON'T CORRELATE EITHER TO POPULATION OR INCOME [00:50:01] OF THE CORPORATION OR KIND OF ALL OVER THE PLACE. I HAVE MY THEORIES ON A COUPLE OF THE LARGER STAFFS, BUT I THINK REALISTICALLY WE COULD ADD A COUPLE PEOPLE. I WOULD... NEED TO HAVE A PLACE TO PUT THEM. AND SO AGAIN, MAYBE THE OCTOBER, NOVEMBER TIMELINE. AND I WILL BRING BACK AND WE CAN DISCUSS IN EXECUTIVE SESSION SOME THOUGHTS ON WHAT THAT MIGHT LOOK LIKE. AGAIN, WE JUST PASSED A BUDGET. IT HAS NOT BEEN OFFICIALLY PASSED YET BECAUSE THE CITY HAS NOT PASSED THEIR BUDGET AND THEY PASS OURS ALONG WITH THEIRS. I BELIEVE THAT'S GOING TO HAPPEN ON SEPTEMBER 14TH. IS THAT CORRECT, JASON? THANK YOU. OR COUNCILMAN? SORRY. BUT AS WE DO THAT, AS WE GO THROUGH THAT PLAN, IT WILL TAKE A BUDGET AMENDMENT TO ADD ANY STAFF. THE BUDGET THAT THE BOARD PASSED WILL COVER THE STAFF THAT'S ON STAFF AS WE SIT TODAY. AND I'M HAPPY TO ANSWER ANY QUESTIONS ON THAT ITEM. OKAY, REPEAT THAT. YOU SAID THE BUDGET THAT WE HAVE TODAY WILL COVER WHAT AGAIN? THE CURRENT BUDGET THAT THE BOARD PASSED WILL COVER MY POSITION AND THE EXECUTIVE ASSISTANCE POSITION THROUGHOUT THE YEAR, EVEN IF THERE'S A RAISE OR WHATEVER. WE'RE GOOD BECAUSE WE'VE GOT A LITTLE BIT IN THERE. IF WE ADD ANY STAFF, THEN WE'LL DO A BUDGET AMENDMENT ADDING ENOUGH TO COVER WHATEVER STAFF THAT WE ADD, AND THAT WILL COME THROUGH BOTH THIS BOARD AND CITY COUNCIL. JIM, A COUPLE OF QUESTIONS HERE. SOMETHING THAT JUMPS OUT INTERESTING, AND I DON'T KNOW, I'M SURE YOU KNOW THE ANSWER. WHY DOES WILEY HAVE SUCH A LARGE SALES TAX REVENUE COMPARED TO THEIR POPULATION? WHY DOES THAT JUMP OUT SO MUCH? I'M GLAD YOU BROUGHT THAT UP BECAUSE THEY DO HAVE A LARGER SALES TAX, BUT IT'S NOT AS LARGE AS IT LOOKS. THIS THAT WE GET FROM THE COMPTROLLER, ALTHOUGH IT'S FROM REPORTS, IT'S SALES TAX REPORTS WE HAVE TO TURN IN EVERY YEAR, BUT ON THOSE REPORTS WE ALSO HAVE TO TELL THEM TOTAL INCOME. THIS IS THE ACTUAL TOTAL INCOME NUMBER THAT THEY LIST ON THE EVENT, AND THEY SOLD A LARGE PIECE OF PROPERTY. ACTUALLY, I THINK THEY SOLD SEVERAL PIECES OF PROPERTY BY THE LOOKS OF IT. BUT I WILL TELL YOU THIS, THE YEAR BEFORE, BECAUSE I NOTICED THE SAME THING, THEIR SALES TAX WAS STILL OVER $11 MILLION. THAT SURPRISED ME. I DIDN'T THINK IT WOULD BE THAT HIGH FOR THAT CITY. OKAY, AND THEN THE SECOND QUESTION I HAD IS I DON'T KNOW, IS THERE A GAUGE OR IS THERE A NUMBER? SO IF YOU LOOK AT PRINCETON'S RATIO, WE'RE AT 6.08 MILLION SALES TAX REVENUE VERSUS 48,000 POPULATION. THAT'S $125 PER PERSON. IS THERE A NUMBER WHEN YOU LOOK AT THESE? BECAUSE IN MY OPINION, THIS IS JUST MY OPINION, YOU LOOK AT CELINA AND LITTLE ELM, THEY'RE JUST SLIGHTLY ABOVE US, BUT THEIR POPULATION IS DAMN NEAR 50% HIGHER THAN US. RIGHT. SO IS THERE A GAUGE THAT SAYS THE RULE OF LAW SHOULD BE $100 PER PERSON SALES TAX? OR ANYTHING. IT DOESN'T HAVE TO BE $100. A COUPLE THINGS TO NOTE. ONE OF WHICH IS OUR SIX MAIN IS FOR TWO CORPORATIONS. NOT EVERY CITY HAS TWO CORPORATIONS. SOME OF THEM HAVE ONE. AND SO IF THEY HAVE, SO WE BRING IN A FULL CENT BETWEEN THE TWO CORPORATIONS. I, OH GOSH, I CAN'T REMEMBER WHETHER CELINA AND LITTLE ELM, YOUR TWO EXAMPLES, WHETHER THEY HAVE TYPE A AND TYPE B. I DON'T BELIEVE THEY DO. SO THAT WOULD EXPLAIN IT. THEY GET A HALF CENT, WE GET A FULL CENT. THEY MATCH ABOUT BECAUSE THEY DO ABOUT TWICE. THEY'RE ABOUT TWICE THE POPULATION OF US, DO ABOUT TWICE THE SALES TAX TOTAL. OKAY, THANK YOU. GENERALLY, THE HIGHER... I'M SORRY. GO AHEAD. THE HIGHER VALUE, THE HIGHER AVERAGE INCOME OF YOUR COMMUNITY, THE MORE PER RESIDENT YOU'RE... YOU JUST HAVE MORE DISPOSABLE INCOME. SO THE HIGHER THE HOUSING COST, THE HIGHER THE AVERAGE INCOME PER HOUSEHOLD. THAT'S GOING TO MAKE YOUR SALES TAX FLUCTUATE, PLUS AFFECT OPPORTUNITIES. WE DON'T HAVE AS MANY COMMERCIAL OPPORTUNITIES. IT'S BEEN TALKED ABOUT A LOT. IT'S COMING, BUT IT'S NOT HERE. MS. WALKER? SO TECHNICALLY, IF YOU THINK ABOUT IT, WE'RE BASING OUR NUMBER, SALES TAX REVENUE, OF $6 MILLION. THAT IS EDC AND CDC TOTAL. THESE OTHER CITIES HAVE ONLY AN EDC. SO IF WE SPLIT OUR NUMBER OF SIX MILLION, BECAUSE WE'RE NOT GETTING SIX MILLION, IF THAT'S AN EDC AND CDC NUMBER, [00:55:01] IT'S ONLY THREE MILLION. SO WE'RE NOT EVEN AS CLOSE AS WE THINK WE ARE. WE'RE AT THREE MILLION, JUST BASING IT ON EDC BECAUSE CELINA DOES NOT HAVE A CDC. LITTLE ELM DOES NOT HAVE A CDC. AND TO ADD TO THAT. RIGHT. SAY THAT AGAIN. AND TO ADD TO THAT. IN THIS TOTAL NUMBER, THERE'S ALMOST A MILLION DOLLAR LANE SALE. GIVE ME ONE SECOND, JIM. WE'RE DELIBERATING. HOLD ON. YOU KNOW, WE CAN'T MAKE THE POINT ENOUGH. WE ARE NOT PLAYING ON EVEN FIELD HERE. WE DON'T HAVE THE HIGHWAYS. WE DON'T HAVE THE DALLAS NORTH TOLLWAY. WE HAVE TO WORK TWICE AS HARD TO GET BUSINESSES, AND WE NEED SPECIALIZED STAFF. WE'RE AT A POINT, I DON'T KNOW IF ANYBODY ATTENDED OR WATCHED THE BUDGET WORKSHOP. THE ENTIRE CONVERSATION WAS, WE NEED ECONOMIC DEVELOPMENT AND WE NEED IT NOW. WHEN BUSINESSES ARE CLOSING, HOW DO WE KNOW? WE SEE IT ON FACEBOOK. WHAT HAPPENED TO DAIRY QUEEN? WHAT HAPPENED TO WENDY'S? THEY'RE CLOSED AND THEY'RE GONE AND THEY'RE TAKING THEIR SALES TAX WITH THEM. IF WE HAD BUSINESS RETENTION AND EXPANSION PERSON, THEY WOULD BE ON IT. THEY WOULD KNOW, AND THEY WOULD BE ABLE TO HOPEFULLY STOP A LOT OF THESE BUSINESSES BEFORE THEY LEAVE. WE CANNOT AFFORD TO LOSE ANOTHER DIME FROM THIS CITY. WE ARE STRUGGLING. GO BACK AND WATCH THE SALES TAX, THE BUDGET RETREAT WORKSHOP FROM COUNCIL. THAT IS ALL YOU WILL HEAR. WE ARE IN DIRE STRAITS RIGHT NOW. WE NEED THE SALES TAX. AND IT'S NOT AN OPTION ANYMORE. I DON'T THINK OF WHEN, IT'S GOING TO BE HOW. HOW ARE WE GOING TO STRUCTURE IT OUT TO GET THE BEST RESULTS GOING FORWARD? WE CAN'T CONTINUE WITH ONE PERSON. WE'VE GOT TO GET JIM SOME HELP IN HERE TO GET SOME BUSINESSES SO THAT HE CAN FOCUS ON THE VERY IMPORTANT THINGS. LET OTHER PEOPLE THAT ARE SPECIALIZED IN THESE FIELDS GO OUT AND DO THAT WORK AND LET HIM HANDLE THE BIG TASKS FOR US. ANY OTHER QUESTIONS OR DISCUSSION AROUND THAT? IT SEEMS LIKE THE BALL'S IN YOUR COURT. YOU'RE THE ONE BASED ON OUR BYLAWS, RIGHT, THAT GETS TO ADD HOWEVER MANY YOU WANT TO, BUT IT'S RATIONALIZED THAT WE'RE ALL ON THE SAME PAGE. DO WE NEED TO MAKE ANY MOTIONS OR JUST WAIT TILL WE TAKE THEM? NO, I MEAN, I BRING IT TO THE BOARD. THE BOARD ALLOTS THE MONEY. I MEAN, I THINK BOTH BOARDS ARE GOING TO SAY SOMETHING VERY SIMILAR. I THINK IT'S ABOUT TIME. THERE ARE REASONS WHY WE TOOK THE ROAD WE TOOK AND WE ARE EXACTLY WHERE WE ARE TODAY AND I THINK WE'RE GETTING VERY CLOSE TO TIME. SO NO, I DON'T THINK AT THIS POINT THERE'S A, I THINK THE CONVERSATION NEEDS TO BE HAD IS WHAT EXACTLY DO WE THINK WE PRIORITIZE TO BRING IN, HOW MANY, WHAT WE WANT THE SPECIALTY TO BE. AND HOW WE SPLIT THEM BETWEEN THE TWO CORPORATIONS. INSULINA DOES HAVE BOTH CORPORATIONS, BUT LILLELUM ONLY HAS A 4B. I HAVE A CONCERN GIVEN THE CONVERSATION THAT'S BEEN GOING ON. ONE IS, I THINK THERE'S TWO THINGS, I JUST WANT TO PUT IT OUT HERE FOR DISCUSSION. ONE IS THE INFRASTRUCTURE OF PRINCETON IS ONGOING. SO OBVIOUSLY THAT IMPACTS SOME OF WHAT'S GOING ON HERE. I DO NOT DISAGREE THAT WE NEED TO HAVE SOME PROFESSIONALS BROUGHT ON BOARD. MS. WALKER, AND AS I LISTEN TO THE CONVERSATION AND I THROW THIS OUT AND PLEASE, MS. JEREMY, WITH YOUR KNOWLEDGE OF THIS AREA OF EXPERTISE, YOU CAN CORRECT ME IF I'M WRONG. I HEAR US OVER THE YEARS AS WE HAVE DISCUSSED PRINCETON IN ITS GROWTH. ONE OF THE THINGS THAT HAVE COME UP FROM TIME AND TIME AGAIN HAS BEEN DOWNTOWN DEVELOPMENT. SO A DIRECTOR OF COMMUNITY DEVELOPMENT IN DOWNTOWN SERVICES SEEMS TO FIT THAT CATEGORY. ANOTHER ONE IS SMALL BUSINESSES ARE THE HEART OF ANY COMMUNITY. WITH THAT BEING SAID, IT SEEMS TO ME WE NEED TO GIVE SERIOUS ATTENTION TO SMALLER BUSINESSES AND THEIR [01:00:03] EXPANSION. THAT WOULD LEAD ME TO SUGGEST DIRECTOR OF BUSINESS DEVELOPMENT AND RETENTION. NOW, THERE MIGHT BE OTHERS, BUT AT THIS POINT, I WOULD LIKE TO GET SOME FEEDBACK FROM YOU ON THAT AND WHETHER OR NOT YOU THINK I'M THINKING RIGHT. I DON'T DISAGREE. ONE THING I WOULD LIKE TO DO IS IF WE DO, WHEN YOU DO ADD SOMEBODY, IS HAVE SOMEBODY THAT'S CREDENTIALED SIMILAR TO YOURSELF. SO WHEN YOU DO RETIRE DOWN THE ROAD, THEY CAN STEP IN. WE'VE ALREADY GOT SOMEBODY THAT'S UP AND READY TO GO. OKAY, SO ARE WE GOING TO, WELL, WITH THE UNDERSTANDING THAT THE CDC ARE THINKING THE SAME WAY, IS THIS SOMETHING THAT WE COULD PUT UP FOR TO VOTE TONIGHT, OR SHOULD WE DO LIKE A SPECIAL MEETING OR SOMETHING LIKE THAT WITH THE CDC, OR HOW WOULD WE MOVE FORWARD WITH THAT? I DON'T THINK IT'S ANYTHING TO VOTE ON TONIGHT BECAUSE WE NEED TO PASS A BUDGET AND THEN DO A BUDGET AMENDMENT. I DON'T KNOW THAT. KELLY'S GOING TO WANT TO DO THEM BOTH ON THE SAME MEETING, MAYBE. WE MAY BE ABLE TO DO THAT. BUT, AND THIS IS SOMETHING WE CAN CONTINUE TO DISCUSS IN THE EXECUTIVE, TOO. IT'S AN AGENDA ITEM. BUT YOU CAN GIVE DIRECTION. YOU CAN GIVE ME SUGGESTIONS ON WHAT YOU THINK WE NEED TO DO. AND THEN I WILL ALSO HAVE TO GO BACK AND DO SOME MARKET RATE STUDIES. THE POSITION THAT YOU THINK. WE NEED TO BRING IN, OBVIOUSLY WE'RE GOING TO NEED TO KNOW EXACTLY WHAT THAT BUDGET AMENDMENT IS GOING TO BE. BUSINESS RETENTION AND EXPANSION IS GOING TO BE AN EDC POSITION. IT PROBABLY WON'T BE 50-50 SPLIT WITH THE CDC. IF WE HAVE A CDC COORDINATOR TO TAKE SOME OF THAT STUFF OFF TO FOCUS MORE, THEN THAT WOULD COME MORE OF THE CDC THAN THE EDC. SO, YOU KNOW, MY SUGGESTION WOULD BE TO... GIVE DIRECTION, WHICH, AGAIN, WHEN WE BROUGHT THIS IN, I WAS FULLY EXPECTING. I'VE HAD THIS CONVERSATION WITH BOTH BOARDS, JUST OFFLINE INDIVIDUALS, NOT THE ENTIRE BOARDS. AND I KNEW THAT THIS IS SOMETHING WE'D BE TALKING ABOUT. IT'S GOING TO BE A MATTER OF EXACTLY WHAT THE TALENT. I WOULD AGREE WITH BUSINESS RETENTION AND EXPANSION, PROBABLY EVEN MORE EXPANSION THAN RETENTION. AND THEN I WOULD. POSSIBLY DO A CDC COORDINATOR TO FREE SOME MORE TIME UP. IF WE HAVE SOMEBODY OUT THERE BEATING THE BUSHES, THEN I CAN SPEND MY TIME MORE STRATEGICALLY IN CLOSING THE DEALS THAT THEY MAY BE ABLE TO BRING IN, BUT WE'VE GOT A LOT OF DEALS ON THE TABLE TODAY. I MEAN, WE'LL SPEND AN HOUR PLUS IN EXECUTIVE SESSION TONIGHT. SO I HEAR YOU. YOU KNOW. ARE Y'ALL THINKING, I'VE HEARD TWO PEOPLE SAY BASICALLY BUSINESS EXPANSION AND RETENTION, BOTH MS. WALKER AND MR. MILLER. EVERYBODY SEEMS TO BE KIND OF ON THAT SAME PAGE. IS THAT LEVEL OF EMPLOYEE? IN MY WORLD, BUSINESS RETENTION IS WHAT WE CALL AN ACCOUNT MANAGER. ON THE FLIP SIDE, WE HAVE A PERSON THAT'S A SALES REP. SO YOU NEED SOMEBODY TO BRING IT IN. YOU NEED SOMEBODY THAT'S GOING TO BE KEEPING THOSE AFLOAT WHILE THE SALES REP STARTS BRINGING PEOPLE IN. SO YES, A RETENTION PERSON AND ULTIMATELY SOMEBODY WHO'S GOING TO BRING THE BUSINESS IN. OR HELP BRING THE BUSINESS IN, YES. SO TWO SEPARATE POSITIONS. YEAH, JIM, AND MAYBE WE CAN ALSO, BECAUSE OF THE WAY THAT WE'RE GROWING, MAYBE YOU CAN ALSO, I'M NOT SURE IF YOU CAN GET THAT DONE BY THE NEXT MEETING, BUT MAYBE A PHASED KIND OF STAFFING PLAN. WHAT IT WOULD LOOK LIKE THREE YEARS OUT FROM NOW, FIVE YEARS OUT FROM NOW, IF WE'RE GOING TO GROW IT, IF WE'RE GOING TO END UP STAYING WHERE WE'RE AT, BUT I THINK WE NEED TO HAVE A PLAN GOING FORWARD. SO EVEN IF WE END UP NOT NEEDING IT, IT'LL BE GOOD TO HAVE IT IN CASE WE NEED TO PIVOT AND USE IT. WOULD 2030 BE A GOOD, 2030? YEAH, THAT'S WHAT I'M SAYING. AS A TARGET DATE. VERY GOOD. WE'LL MOVE TO THE NEXT ITEM. THAT IS K-3 ON THE AGENDA, UPDATE ON DOWNTOWN INITIATIVES. [01:05:02] ANOTHER ONE THAT MS. WALKER HAD ASKED FOR, AND I'M NOT 100% SURE ON EXACTLY WHAT SHE WANTS, BECAUSE I KNOW THAT WE ARE IN THE PROCESS OF REDOING OUR DOWNTOWN OVERLAY. AND I THOUGHT THAT THAT'S WHAT SHE WAS REFERRING TO. I HOPE I GUESSED RIGHT. THAT WAS NOT PART OF OUR COMPREHENSIVE PLAN. IT PROBABLY, WELL, I MEAN, I COULD ARGUE EITHER SIDE OF THE FENCE WHETHER IT SHOULD HAVE BEEN OR NOT. I MEAN, IT KIND OF DOES STAND ON ITS OWN ANYWAY. IT WILL FIT IN WITH THE COMPREHENSIVE PLAN. IT WAS DISCUSSED DURING THE COMPREHENSIVE PLAN. IT JUST WASN'T PART OF IT. AND SO I BELIEVE, WELL I DON'T KNOW BUDGET-WISE WHETHER IT MADE IT IN THERE, BUT I KNOW THAT CHIEF WATERS, THAT'S ONE OF THE THINGS THAT HE'S PUSHING IS TO UPDATE THE OVERLAY DISTRICT WITH THE HELP OF SHAI AND ALSO OUR NEW PUBLIC WORKS DIRECTOR. AND THEN HE'S ALSO GOT SOME IDEAS WHICH WE'VE DISCUSSED ON THE COTTON GIN AND THINGS LIKE THAT THAT WOULD FIT INTO IT, BUT THAT WILL BE A SEPARATE PLAN. AND I KNOW THAT THAT'S KIND OF IN THEIR COURT MORE THAN MINE. AND LATELY WE'VE ALL BEEN A LITTLE BIT BUSY, AND I HAVEN'T GOTTEN A LOT OF FACE TIME WITH CHIEF WATERS. WE'VE BEEN GOING TWO DIFFERENT DIRECTIONS. BUT THAT'S THE BEST I CAN TELL YOU AT THIS POINT. IT HAS BEEN RECOGNIZED, AND WE ARE GOING TO REDO THE OVERLAY DISTRICT. THAT DECISION HAS BEEN, THAT PLAN IS MADE. I JUST DON'T KNOW EXACTLY WHAT THE SCHEDULE IS, IF THAT MAKES SENSE. ABSOLUTELY. ONCE... I'M NOT SURE HOW MUCH THEY KEEP YOU IN THE LOOP, BUT ONCE THEY KIND OF GET THAT TOGETHER, DO YOU THINK WE COULD GET AN UPDATE SINCE IT SEEMS LIKE THE EDC MIGHT BE POSSIBLY HEAVILY INVOLVED IN DOING SOME THINGS DOWN THERE? SO I DON'T WANT TO SAY TOO MUCH, BUT YEAH. WE CAN GET AN UPDATE SO THAT WE CAN SEE WHAT IT'S LOOKING LIKE AND MAKE SURE IT'S SOMETHING THAT WE WANT TO SUPPORT. YES, ONCE THEY'RE READY TO MOVE FORWARD, I KNOW THAT THEY'LL BRING ME IN THE LOOP. OKAY. WE'RE TRYING TO GET PAST BUDGET RIGHT NOW, AND THAT'S A BIT OF A TASK. YEAH, THANK YOU. OKAY, WE'LL MOVE TO ITEM K-4 ON THE REGULAR AGENDA, CHAMBER OF COMMERCE GOLF TOURNAMENT SPONSORSHIP. WHAT'S THAT? WITH OUR MEMBERSHIP, WE PAID FOR THIS. WE. WE KIND OF, WELL, WHAT WE DID WHEN WE INCREASED OUR MEMBERSHIP IS WE ADDED SOME SPONSORSHIPS LAST YEAR WHEN WE DID IT. WE'VE BEEN A HAT SPONSOR FOR SEVERAL YEARS. WHEN WE GOT THE REQUEST FROM BETH, WE WERE ABOUT TO HAVE A BOARD MEETING, SO I SAID, LET'S PUT IT ON. WE'LL BRING IT BACK. MAKE SURE YOU WANT TO KEEP DOING IT. I KNOW THE HATS WERE A HIT LAST YEAR, ACCORDING, AND IF YOU WANT TO COME UP, BETH, AND GIVE THEM ANY KIND OF AN UPDATE, YOU'RE MORE THAN WELCOME TO. THE WAY WE HAVE DONE IT, BECAUSE I AM... A SWAG SNOB IS INSTEAD OF PAYING, I DON'T LIKE GIVING AWAY STUFF THAT PEOPLE AREN'T GOING TO WANT TO WEAR AND USE EXCEPT WHEN THEY'RE GOING TO THE GOLF TOURNAMENT. I THINK THE HATS WE DID LAST YEAR, I STILL SEE WALKING AROUND THE COMMUNITY. EVEN SOME OF OUR DEVELOPMENT SERVICES GUYS, WE'RE ABLE TO PROVIDE THEM WITH SOME HATS. AND SO I'LL PAY THEM A SMALL SPONSORSHIP FEE, BUT THEN WE'LL INSIDE DESIGN THE HAT AND ORDER THE HAT AND HAND IT OUT AT THE TOURNAMENT. LIKE WE DID LAST YEAR. SO UNLESS THE BOARD HAS AN ISSUE WITH IT, WE'RE LOOKING AT PROBABLY A $3,500 SPONSORSHIP. IT'S IN THE BUDGET, BUT AGAIN, I WANTED TO BRING IT BACK TO THE BOARD. AND BETH? YES. DO YOU HAVE ANY QUESTIONS FOR ME? THIS IS GOING TO BE USED OUT OF MARKETING, JIM? YES, MA'AM. OKAY. SO, BETH, BECAUSE WE ARE USING THIS FUNDING OUT OF MARKETING, WE NEED TO HAVE SOME ACTUAL DELIVERABLES. I KNOW FOR THE BACK TO SCHOOL BASH, WE DID DISCUSS THAT THERE WAS NOTHING, NO SIGNAGE, NO PROMOTION ONLINE FOR EDC AND CDC, AND THEY CONTRIBUTED A SIGNIFICANT AMOUNT FOR THAT, AND I WOULD HAVE LIKED TO HAVE SEEN IT. AND SO GOING FORWARD, I AM ASKING THAT YOU PLEASE MAKE SURE THAT THERE IS SIGNAGE AT THESE EVENTS, AND WHEN YOU POST ONLINE, PLEASE ACKNOWLEDGE THAT THE EDC AND CDC HAVE SPONSORED THAT USING BECAUSE THIS IS MARKETING AND SO, YOU KNOW, WE HAVE TO HAVE SOMETHING TO SHOW FOR IT. AND SO WE HAVE TO BE MARKETED. SO WITH THE BACK-TO-SCHOOL BASH, THOSE ARE DONATIONS. THAT IS NOT A SPONSORSHIP. AND SO I DIDN'T KNOW THERE WERE REQUIREMENTS ATTACHED TO WHERE THAT MONEY CAME FROM. [01:10:02] THE WAY IT WAS HANDLED THIS YEAR IS HOW IT'S BEEN HANDLED PREVIOUS ME, LAST YEAR WHEN I WAS OVER IT, BECAUSE THOSE AREN'T. THOSE, FOR US, THOSE ARE NOT SPONSORSHIPS, THOSE ARE DONATIONS. WHERE YOU ARE WITH YOUR MEMBERSHIP, AND THAT'S UNDER THE FOUNDATION, WHICH IS COMPLETELY SEPARATE. UNDER THE CHAMBER, WHICH IS WHERE YOUR MEMBERSHIP IS, YOU ARE PRINCIPAL PARTNERS, WHICH IS OUR TOP LEVEL. YOU ARE ON EVERYTHING. YOU ARE ON THE SIGNS AT CASINO NIGHT AND BACK TO SCHOOL BASH. YOU ARE ON THE BANNER FOR THE GOLF TOURNAMENT. JUST WITH YOUR MEMBERSHIP ALONE. WHEN WE DO OTHER BIG EVENTS, YOU ARE ON EVERYTHING LIKE THAT, WHETHER YOU DO ANYTHING ABOVE AND BEYOND OR NOT. BUT THAT'S UNDER YOUR, THAT'S A BENEFIT OF YOUR MEMBERSHIP. NOW THAT I KNOW THAT, WITH THE BACK TO SCHOOL BASH, WE CAN GO BACK AND ADDRESS WHAT WE NEED TO DO ON OUR END TO MAKE THE ADJUSTMENTS THAT WE NEED TO MAKE THAT WAS NOT AN INTENTIONAL THING TO NOT HAVE YOU REPRESENTED AT THE EVENT. IT'S JUST A DIFFERENT, THOSE AREN'T SPONSORSHIPS. SO THAT'S WHY IT LOOKED DIFFERENT ON MY END. RIGHT. AND I JUST WANTED TO BRING IT TO YOUR ATTENTION BECAUSE IN THE PAST, IT WAS A REQUIREMENT. IT WASN'T OPTIONAL WHEN WE SPONSORED THINGS AND USED IT FROM OUR MARKETING BUDGET. AND SO I JUST WANT TO, I KNOW YOU'RE NEW, BUT YEAH, I THINK WE NEED TO HAVE SIGNAGE FOR EVERYTHING EVEN IF IT IS A DONATION BECAUSE THEY'RE STILL CONTRIBUTING AND IT'S STILL WE'RE CATEGORIZING IT AS MARKETING YES THANK YOU WE NEED TO VOTE ON THAT OR WE GOOD WITH IT COMING OUT OF MARKING YEAH GO AHEAD AND VOTE TO CONTINUE THE SPONSORSHIP IF YOU WOULD I'M MR. I'LL MAKE A MOTION TO CONTINUE THE CONTINUOUS QUESTION FOR THE CHAMBER COMMENTS GOLF TOURNAMENT SPONSORSHIP, SECOND. JIM, DON'T KILL ME. IS IT $2,500 OR $3,500? IN THE MEMO IT SAYS $2,500. WELL, THAT'S IF WE JUST PAY A SPONSORSHIP. WE PAY THEM $1,000 AND WE ORDER THE HATS. OKAY, OKAY. SOUNDS GOOD. THANK YOU. AND THEY OBVIOUSLY ARE LOGOED. AND THAT'S APPROVED 5-0. AND WE'LL MOVE TO THE LAST ITEM ON OUR REGULAR AGENDA. THAT IS A GROUP TOUR OF PRINCETON WITH CITY COUNCIL, UDC, AND CDC. MR. REMAR. THIS WILL BE A BRIEF UPDATE. VICE CHAIR SAMUELS FROM THE CDC HAS WANTED TO DO THIS FOR QUITE SOME TIME. AND WE HAVE, WE, CARRIE, HAS GOTTEN PRICING ON. A MINI BUS THAT HOLDS 16, 18 PEOPLE. WITH ALL THREE OF THEM, IF EVERYBODY CAN MAKE IT, WE'LL NEED ONE A LITTLE BIT BIGGER THAN THAT. WITH THE IDEA OF, IT'S REALLY EASY FOR US TO GET TUNNEL VISION AND FOCUSED ON 380 CORRIDOR AND AREAS THAT WE DRIVE EVERY DAY. BUT WE MAY NOT ALL SEE THE ENTIRE COMMUNITY ON AN ONGOING BASIS BECAUSE WE DON'T PASS IT ON THE WAY HOME, ON THE WAY TO WORK. WE CERTAINLY... DON'T ALL SPEND TIME, WE DON'T SEE, AS FOR INSTANCE, THE CORE PARKS OUT ON THE PENINSULA THAT ARE WAY DOWN SOUTH BUT MANY OF US DON'T SPEND TIME AT. AND SO TO DO A BUS TOUR ALSO WITH KIND OF A GUIDE, AND I GOT TO TELL YOU, I'VE BEEN IN SEVERAL MEETINGS WITH CHIEF WATERS, AND HE'S KIND OF A PRINCETON HISTORIAN, TO BE HONEST WITH YOU. IT'S BEEN VERY, VERY INTERESTING. SO MY REQUEST TO KERRY WAS TO GET WITH CHIEF WATERS, SEE, A, IF HE WOULD BE WILLING TO DO IT, WHICH I BELIEVE HE WOULD, WHEN WE MIGHT BE ABLE TO DO IT, AND THEN TRY TO SCHEDULE A JOINT TOUR, WHICH I THINK WOULD BE REALLY INTERESTING. WHENEVER I'M IN A MEETING WITH HIM AND HE GOES OFF ON ONE OF HIS HISTORY LESSONS, I LEARN ABOUT THE COMMUNITY. SO I THINK IT WOULD BE INTERESTING FOR THE ENTIRE BOARD, AND I WANTED TO BRING YOU ALL ON THE LOOP SINCE THE SUGGESTION CAME FROM THE OTHER BOARD. WE'D LOVE TO INCLUDE BOTH BOARDS AND COUNCIL, ANYBODY FROM COUNCIL WHO WOULD LIKE TO JOIN AS WELL. NO ACTION NEEDED ON THAT. THAT WAS JUST AN UPDATE. VERY GOOD. WE'LL MOVE TO ITEM... I'M SORRY, GO AHEAD. YEAH, DO WHITE SHARES 7-0 HAVE A DATE IN MIND? WE DON'T. WE WOULD LIKE TO DO IT WITHIN THE NEXT PROBABLY 45 DAYS. [01:15:02] WE'VE GOT A... WE CHECKED ON THE BUSES. NOW REALIZING THERE COULD BE 21, 25 PEOPLE, WE MAY HAVE TO GO TO A LARGER COACH. AND THE THOUGHT WAS TO DO A COUPLE HOUR TOUR IN THE MORNING, FINISH IT WITH LUNCH WITH THE GROUPS ALL TOGETHER, AND KIND OF HAVE BOTH A TOUR AND A TEAM BUILDING EXERCISE, YOU KNOW, THAT DAY, WHERE WE CAN SPEND A LITTLE TIME TOGETHER FOR THOSE THAT CAN MAKE IT. WE'LL ALSO OBVIOUSLY HAVE TO TRY TO WORK AROUND WORK SCHEDULES AND THINGS LIKE THAT. SO CARRIE WILL BE REACHING OUT, TRYING TO GET SOME AVAILABILITY DATES AND TIMES. IF WE HAVE TO DO IT ON A WEEKEND, I DON'T KNOW IF Y'ALL WILL BE UP TO DOING IT ON A WEEKEND, BUT I KNOW SOME WON'T HAVE A CHOICE WITH WORK, WHETHER THEY CAN MAKE IT DURING THE DAY OR NOT. SO YOU'LL BE HEARING FROM KERRY. NOT TO PUT YOU ON THE SPOT, KERRY, BUT THANK YOU. WE'LL MOVE TO ITEM L, EXECUTIVE SESSION, IN ACCORDANCE WITH CHAPTER 551 OF THE TEXAS GOVERNMENT CODE, THE ECONOMIC DEVELOPMENT CORPORATION, MAY ENTER INTO CLOSED EXECUTIVE SESSION TO DISCUSS ANY OF THE FOLLOWING TEXAS GOVERNMENT CODE SECTION 551.071, CONSULTATION WITH ATTORNEY, TEXAS [L. EXECUTIVE SESSION] GOVERNMENT CODE 551.72, DELIBERATIONS ABOUT REAL PROPERTY AND OR TEXAS GOVERNMENT CODE SECTION 551.087, DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. AND THIS EVENING WE HAVE L1. PROJECT RED AND THAT'S UNDER.087 AND WE HAVE PROJECT ANNADALE, ONNDALE, THAT'S UNDER.087 AS WELL. PROJECT HOME RUN UNDER .087 AND K4 IS PROJECT SCHOLAR UNDER .087. K5, PROJECT BHAG UNDER .087. PROJECT L, SORRY. PROJECT RED. UNDER 087, L7, PROJECT HOOK'EM. I GOT A PROBLEM WITH THAT ONE. 087. AND PROJECT L8, PROJECT TIMBER. IT'S UNDER 551.072. AND THEN L9 IS PROJECT BUFFENSHINE, 551.072 AS WELL. AND IT'S 7:19. WE'LL GO TO EXECUTIVE SESSION NOW. IT'S 8:55. WE RETURN FROM EXECUTIVE SESSION AND ACTION PERTAINING TO EXECUTIVE SESSION IS? MR. CHAIR, I MAKE A MOTION TO ACCEPT THE INCENTIVES. I'M SORRY, APPROVE THE INCENTIVES FOR PROJECT RED AS DISCUSSED IN EXECUTIVE SESSION. [M. ACTION PERTAINING TO EXECUTIVE SESSION] SECOND. WE'LL DO A ROLL CALL VOTE. ALBERT LOTT? YES. JAMES MILLER? YES. ALAN RUSCINI? YES. SHAWNA WALKER? YES. AND MIKE THOMPSON, YES. PASSES 5-0. AND WE'LL MOVE TO ADJOURNMENT. ARE ALL THOSE IN FAVOR? AYE. AYE. AYE. THANK YOU ALL. * This transcript was compiled from uncorrected Closed Captioning.