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UNTIL WE GET TO AGENDA ITEM NUMBER THREE.SO, UM, WITH THAT I WILL GO AHEAD AND CALL THE MEETING TO ORDER AT 11:02 AM
[Reinvestment Zone 12 Board Deep Ellum on December 6, 2022.]
AND WE CAN GO AHEAD AND DO INTRODUCTIONS OF THE BOARD MEMBERS IF YOU WANNA START, JOHN.UH, JOHN WITH MADISON PARTNERS.
JOHN, WELL, OWNER OF HOPKINS CURRENTLY WITHIN THIS GROUP, ABOUT 30 DAYS FROM RETIREMENT.
I'M MANAGING DIRECTOR CONSULTING FIRM CALLED PGT STRATEGIES.
UM, SO I DO NOT SEE ANYONE FROM THE PUBLIC IN OUR MEETING.
THESE BLANK SCREEN JUST FOR, SO YOU KNOW, THESE ARE, LOOKS LIKE THESE ARE STAFF, OUR ACCOUNTING FOLKS AND ALSO IT'S SOME NEW MEMBERS OF OUR TEAM, THE, JUST LISTENING IN.
SO WITH THAT, UM, WE CAN MOVE ON FROM AGENDA ITEM NUMBER TWO SINCE I DO NOT SEE ANY MEMBERS OF THE PUBLIC AND MOVE ON TO AGENDA ITEM NUMBER THREE, WHICH IS NOMINATION AND ELECTION OF THE VICE CHAIR OF THE BOARD DIRECTORS.
AND IN THE PAST, THIS ITEM HAS BEEN, I THINK WE'VE TABLED IT EVERY BOARD MEETING WHERE I, WAIT, WAIT, YOU HAVE, SO, UM, JOHN IS NOT CURRENTLY THE CHAIR.
THAT IS SOMETHING THAT OCCURS ANNUALLY BY THE MAYOR AND THEN APPROVED BY CITY COUNCIL.
SO AS WE WAIT FOR THE NEW CYCLE, WE, OF OUR 19 FIFTH DISTRICTS, WE HAVE MANY THAT DON'T HAVE CHAIRS RIGHT NOW.
SO WE'RE IN THIS PLACE FOR SEVERAL OF OUR BOARDS.
SO, SO THAT I CAN TURN THIS OVER TO A BOARD MEMBERS OF PRESIDING OFFICER.
DO I HAVE A NOMINATION FOR A VICE CHAIR? THE DEVELOPMENT DISTRICT BOARD, THE DIRECTORS? SURE.
YOU GET TO TAKE THE LOOK AT THIS AGENDA ITEM NUMBER FOUR, UH, AND CONSIDERATION OF THE MEETING RECORD DECEMBER 7TH, 2021, DISTRICT BOARD MEETING.
UH, RECOMMENDED ACTION APPROVAL.
YOU'LL MOVE THIS ON TO AGENDA ITEM MEMBER AGENDA NUMBER FIVE, REVIEWED CONSIDERATION OF THE DEVELOPED DISTRICT ANNUAL REPORT, FISCAL YEAR 20 21, 20 22, ON, ON THAT BACK SIDE OF THE BOARD FALL OFF, BUT IT IS THERE.
AND BOARD RECOMMENDATION OF THE ROOM TWO CITY COUNCIL.
THE BOARD WOULD LIKE TO TAKE FIVE TO SEVEN MINUTES OR SO TO RUN THROUGH THE ANNUAL REPORT.
SO I ALWAYS LIKE TO KICK OFF BY SAYING, UM, THAT WE APPRECIATE THE ABILITY TO MAKE ANY MINOR EDITS.
THESE TYPICALLY GO TO CITY COUNCIL AT THE END OF FEBRUARY, SO THEY'LL STILL GO THROUGH ATTORNEY REVIEW.
ALSO, THERE'S THE ONLY THING MISSING IN HERE RIGHT NOW IS THE 2122 ADMINISTRATIVE COSTS.
SO YOU'LL SEE THE ONE RED HIGHLIGHT AS A MINOR TO US TO UPDATE THAT.
BUT I FOUND THE MISTAKE THIS MORNING TO BE HONEST AND I'VE CORRECTED IT ON, ON THE VERSION HERE.
SO, YOU KNOW, IT SHOULD BE IN VERY GOOD SHAPE.
BUT IF YOU HAVE ANY COMMENTS FROM I FIND TO SPELLING ERROR OR SOMETHING, I WON'T MAKE ANY MAJOR MODIFICATIONS WITHOUT YOUR KNOWLEDGE, BUT APPRECIATE THE ABILITY TO MAKE MINOR EDITS.
WITH THAT, I WILL TRY TO SCROLL AND TALK AND USE MY TEACHING HERE WITH THE HIGHLIGHTS.
SO I THINK ONE OF THE MOST IMPORTANT THINGS, UH, TO NOTE IS THAT THIS TIP DISTRICT HAS THIS KIND OF ENDING IT LIFE CYCLE.
UM, I SAY THAT EVEN THOUGH IT GOES THROUGH 2027 AS A TERMINATION DATE, UH, IT WOULD ALSO TERMINATE IF WE READ OUR NARE AND VALUE, WHICH IS AROUND 30 MILLION.
UM, AND WE'LL GET THROUGH THAT.
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DATE JUST BECAUSE THERE'S BEEN SUCH GROWTH YEAR OVER YEAR.THERE'S TWO PARTICIPATING JURISDICTIONS RIGHT NOW AND THAT'S THE CITY OF DALLAS AT 85% AND THE COUNTING AT 55%.
AS FAR AS OUR ACCOMPLISHMENTS ON PAGE FIVE, JUST SOME KIND OF RECENT THINGS.
CONTINENTAL GYM, AS YOU'RE AWARE, IT'S BEEN COMPLETED, IT'S BEEN PAID OUT.
UM, IT ACTUALLY WON SOME AWARDS THIS YEAR IN SEPTEMBER, 2022.
IT WON THE I E D C, INTERNATIONAL ECONOMIC DEVELOPMENT COUNCIL EXCELLENCE AWARDS IN, UM, REAL ESTATE RE REDEVELOPMENT REUSE CATEGORY.
WE WON A SECOND AWARD, UM, AT THAT I E D C CONFERENCE FOR, UH, A SILVER AWARD, UM, IN THE NEIGHBORHOOD DEVELOPMENT CATEGORY FOR ITS ROLE IN MANAGING THE TIP DISTRICT SINCE 2005.
AND THEN THE STACK, UM, IT WAS COMPLETE DURING THE FISCAL YEAR.
WE'LL GET TO THAT AND THAT'S BECAUSE THEY'VE GOT A GROUND FLOOR OCCUPANCY REQUIREMENT BEFORE OUR TIP PAYMENT IS MADE.
BUT MOSTLY THAT CLOSEOUT PAPERWORK HAS BEEN COMPLETE.
WE'RE THE SWEEPING FOR THE OCCUPANCY AND WE DO EXPECT THAT FIRST QUARTER OF, UM, 2023 AND WE HAVE CASH ON HERE TO BE ABLE TO PAY.
SO MOVING ON TO THE CHART, STARTING ON PAGE SEVEN.
THIS IS A SYNOPSIS OF SIGNIFICANT PROJECTS.
THESE ONES AT THE TOP ARE ONES THAT UTILIZE TIP DOLLARS.
SO WE'VE ALLOCATED ABOUT 14 AND MILLION OF TIF FUNDING FOR DEVELOPMENT REDEVELOPMENT PROJECTS.
IT'S YIELDED ABOUT A HUNDRED MILLION IN VALUE.
AND THEN THE BOTTOM OF THE CHARTER, SIGNIFICANT PROJECTS THAT HAVE OCCURRED, UM, WITHIN THE TIP DISTRICT THAT DID NOT UTILIZE TIF DISTRICT FUNDS.
SO WHAT IS THE RATE USED TO DETERMINE THE 30 MILLION BUDGET? YEAH, WHAT IS THE RATE OF ASSETS? SO THE WAY THAT WORKS IS WHEN THE TIP DISTRICT WAS CREATED IN 2005, THERE WAS A LOT OF ANALYSIS OF ALL THE PARCELS THAT WOULD BE PLACED INTO IT AND WHAT WE ESTIMATED THAT GROWTH TO BE, EITHER BY NATURAL APPRECIATION OR KIND OF WHAT WE CALL BIG BOX BY PROJECTS BEING DEVELOPED.
AND WE ALSO, UH, WORK THAT WITH WHAT WE WANTED TO ACCOMPLISH WITHIN THE DISTRICT AND WHAT THAT BUDGET WOULD BE.
AND SO THAT WAS A 30 MILLION N P D, SO THAT'S WHAT THE BOARD APPROVED AT THE TIME AND THEN WENT ON TO CITY COUNCIL.
SO THAT IS, THAT IS THE BUDGET.
SO WE HAVE A CAP, AN N NPV CAP BUDGET SO THAT EVERYWHERE WHERE THE INCREMENT COMES IN, I DISCOUNT IT BACK BASED ON WHERE THE PLAN SPECIFIES.
AND FANS THAT DON'T HAVE THAT RIGHT FOR ME, MOST OF THEM ARE AT 5% DISCOUNT RATE OR 5.75% DISCOUNT RATE DEPENDING ON LAND THAT WAS APPROVED.
SO WE, THAT'S SOMETHING REALLY IMPORTANT THAT THIS OFFICE DOES.
IT'S EVERY YEAR COMES IN AND DISCOUNT IT BACK TO MAKE SURE THAT WE'RE NOT GOING OVER THAT COUNCIL APPROVED BUDGET CAP.
LET, LEMME GET INTO THE BUDGET.
LEMME KEEP GOING THROUGH THE, LEMME KEEP GOING THROUGH AND HOPEFULLY IT'LL ANSWER, ANSWER YOUR QUESTIONS.
THE THE 14 MILLION TO CHANGE IS THE FIFTH INVESTMENT.
AND, AND, AND YOU'LL SEE HOW IT RELATES TO TODAY'S DOLLARS WHEN WE GET TO THAT PAGE, HOPEFULLY, AND I CAN EXPLAIN A LITTLE BIT MORE.
SO, MIXED INCOME HOUSING IS A BIG PART OF WHAT WE DO, UH, WITH TIM FUNDING IN THIS PARTICULAR DISTRICT.
THERE HAVE NOT BEEN ANY T FUNDED RESIDENTIAL PROJECTS, BUT THERE'S ONE PROJECT WITHIN THE BOUNDARY THAT USED OTHER SOURCES OF FUNDS AND THAT'S THE GALBRATH.
AND UM, IT HAS AS A REMINDER TO MYSELF, 217 RESIDENTIAL UNITS OF WHICH 111 ARE AFFORDABLE.
AGAIN, NOT TIP FUNDED, BUT WITHIN THE BOUNDARY.
UM, THIS NEXT PART OF THE VALUE AND INCREMENT REVENUE SUMMARY IS KIND OF WHAT THIS WHOLE ANNUAL REPORT IS REALLY ABOUT, IS KIND OF THE FINANCIAL HEALTH OF THE DISTRICT, THE 2022 TAXABLE VALUE WITH ALMOST ONE 23 BILLION, THAT'S A 25.5% INCREASE FROM LAST YEAR.
SO BIG STRIDES TOWARDS, YOU KNOW, THE VALUE WHICH EQUALS INCREMENT.
SO THAT WILL EQUATE TO APPROXIMATELY 7.288 MILLION IN 2023 COLLECTIONS.
SO OUR 2022 VALUES WE ACTUALLY COLLECT IN 2023.
SO WE'LL EXPECT THAT AMOUNT TO COME IN NEXT SUMMER.
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UM, OF THAT AMOUNT.ONLY A SMALL PORTION IS FROM THE COUNTY AND THAT IS BECAUSE THE COUNTY HAS AN AIR LOCAL AGREEMENT WITH THE CITY ABOUT OUR PARTICIPATION.
THEY HAVE THEIR OWN CAP AND THEY'RE GOING TO REACH THAT CAP DURING THIS FISCAL YEAR.
SO, OR NEXT FISCAL YEAR BETWEEN 22 AND 23.
SO WE CAN'T COLLECT THE FULL OUT.
WE'RE GONNA HAVE TO SAY THANKS FOR THOSE THINGS WE PAY MAX.
SO FROM HERE ON OUT IT'LL JUST BE THE CITY'S COMPONENT, WHICH IS THE LARGER COMPONENT.
UM, THAT'LL BE INCREMENTAL VALUE MOVING FORWARD.
STARTING ON PAGE NINE AND CONTINUING ON FOR SEVERAL PAGES OR SOME OF THE, UM, GOALS AND OBJECTIVES THAT WERE SET FORTH OF THE PLAN.
AND HOW ARE WE GETTING, YOU KNOW, ARE, ARE WE GONNA GET JUMP AND MEETING THOSE? AND YOU CAN SEE THAT WE ARE UM, I WILL NOTE THAT I UPDATE ON COMMERCE STREET.
I WAS TOLD THAT THEY PLAN TO ADVERTISE JANUARY OF 23, AWARD THE CONTRACT IN APRIL, 2023 AND THEN, UH, START CONSTRUCTION IN THE SUMMER OF 2023.
SO THAT'S THE COMMERCE STREET PROJECT.
AS FAR AS THE NPV TALKING THROUGH THAT AGAIN, UM, YOU KNOW, HOW FAR HAVE WE GONE TO THAT 30 MILLION TO DATE WE'VE HIT 19.57 MILLION IN PV ON PAGE 11.
IF YOU CAN JUST CHECK, THAT'S OUR YEAR END SUMMARY REPORT FROM LAST YEAR.
MAYBE WE'LL HAVE MORE NEXT YEAR.
WE'VE GOT SOME PROJECTS TO DO.
UM, PAGE 12 IS THAT BUDGET, BOTH THIS, THIS ONE DOWN HERE AT THE BOTTOM OF THE PAGE SHOWS THAT 29.9, I'M CALLING IT 30 MILLION IN NPV.
AND WHAT THAT TRANSLATES TO IN CURRENT DOLLARS IS 55.7 MILLION.
AND AT THAT 55.7 WE'VE ALLOCATED 15 MILLION.
THAT'S THE 14 WE SHOWED IN THE CHARTER.
FOUR PLUS SOME DISTRICT-WIDE ADMINISTRATIVE COSTS.
SO MOST OF THAT IS FROM THE PROJECT CHART YOU SAW THE RED, THERE IS AGAIN A REMINDER THAT BY THE TIME GIVES TO COUNCIL, OUR ACCOUNTS WILL HAVE ADDED IN A LITTLE BIT OF IT ADMIN COST.
SO THAT'LL JUST SHIFT A LITTLE BIT.
SO THE CAPACITY IS APPROXIMATELY 40 MILLION, 40 VIEW 0.6 MILLION.
SOME IS CASH ON HAND, SOME IS INCREMENT THAT WILL GENERATE OVER THE YEARS UNTIL WE HAVE TO TERMINATE.
SO WORK PROGRAM IS REALLY THE IMPORTANT PART FOR THIS DISTRICT IS, IS HOW DO WE START THINKING ABOUT CLOSING IT OUT.
RIGHT NOW I DON'T HAVE ANY APPLICATIONS ON THE TABLE FROM DEVELOPERS TO DO DEVELOPMENT REDEVELOPMENT PROJECTS.
I HOPE TO GET SOME, WE'RE ALWAYS, YOU KNOW, ANXIOUS TO REVIEW ANY PROJECTS TO SEE IF THERE'S A NEED, IF THERE'S GAP FUNDING NEED.
BUT THOSE LAST TWO WHERE WE SAY WE'RE RELEVANT ASSISTANT IMPLEMENTATION OF THE DEVAL FOUNDATION STRATEGIC PLAN AND EXAMINE POTENTIAL DISTRICTWIDE PROJECTS THAT COULD PROVIDE IMPACTFUL CLOSEOUT TO THE TIF DISTRICT.
SO 2023 I THINK WILL BE YOUR KIND OF UNDERSTANDING WHAT PROJECTS DISTRICTWIDE OTHERWISE DOES THIS BOARD WANT TO SEE AND THE CITY STAFF CAN SUPPORT TO START THINKING ABOUT HOW TO UTILIZE THE FUNDS.
THEY MAY OR MAY NOT LINE UP WITH THE CURRENT BUDGET.
THE BUDGET WAS SET 2005, IT'S IN PRETTY GOOD SHAPE, BUT WE MAY SAY THIS DOESN'T MAKE SENSE AND WE MAY SHIFT SOME OF THOSE BUDGET CATEGORIES THAT REQUIRES ACTIONS ON THE BOARD AND ACTIONS FROM COUNCIL.
THERE'S NO REASON TO DO IT NOW AND GET AHEAD OF IT.
WE NEED TO KNOW WHAT THOSE PROJECTS ARE AND SEE IF THEY ALIGN WITH THESE BUDGET LINE ITEMS. SO THAT'S YET TO BE DETERMINED AS WELL.
WAS IT COUNCIL THAT MAKES CALLS? COUNCIL MAKES EXCEPT FOR ON THE PLANS, THE BOARD HAS THE POWER, THE BOARD HAS TO APPROVE THE PLANS SO THEY, YOU BECOME A LITTLE BIT MORE, MORE THAN A RECOMMENDING BODY AT THAT POINT.
SO I WOULD, YOU KNOW, AGAIN, THIS IS THE FUTURE, THIS IS WHAT WE'RE DEALING WITH TODAY.
BUT IF THERE ARE PROJECTS, IF THEY'RE NOT IN ALIGNMENT, WE CAN SHIFT AROUND.
I WOULD BRING IT TO YOU WITH THE RED LINE AMENDMENT.
YOU WOULD TELL ME IF THIS IS SOMETHING YOU WANTED TO MOVE FORWARD.
HEY ANN, LET'S SEE, I THINK WE'RE ALMOST THERE.
OKAY, SO HERE ARE THE FINANCIALS.
THIS IS SHOWING A CASH BALANCE FOR ABOUT 13.7 THAT DOES NOT REMOVE OUT THE
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2.576 ISH FROM THE STACK.SO THAT JUST OVER 11 MILLION CASH ON HAND.
UM, AND THEN OF COURSE WE'LL GET THAT ANOTHER 7 MILLION OR SO IN DECEMBER OF 2023.
SO AGAIN, LOOKING FOR SOME PROJECTS, SOME REALLY GREAT OPPORTUNITY IN THIS DISTRICT.
AND THIS IS JUST A NOTE OF THAT, UM, ONE OBLIGATION STAFF THAT WE HAVE MONEY CASH ON HAND AVAILABLE AS SOON AS THEY'VE MET THOSE, THE CONDITIONS ABOUT MORE OCCUPANCY.
AND WITH THAT, IF THERE ARE ANY OTHER, OH SORRY, LET ME GET TO THIS LAST PAGE CUZ THIS IS IMPORTANT AS WELL.
UM, THE DISTRICTWIDE SET ASIDE THAT IS EVERY YEAR WHEN OUR INCREMENTAL FUNDS COME IN, WE SET ASIDE A PORTION 5% FOR WHAT WE CALL
SO, UM, RIGHT NOW THERE'S $987,000 AVAILABLE IN THAT HUNDRED BUCKET THAT WE CAN USE FOR NON-DEVELOPER PROJECTS.
I SAY THAT THERE'S ALSO A CATEGORY IN A BUDGET FOR TRAILS OF OPEN SPACE.
OBVIOUSLY THAT'S DISTRICT WIDE ALSO.
SO YOU KNOW, THIS IS JUST KIND OF A SEPARATE LITTLE SUB FUND THAT, THAT WE MAKE SURE THAT IT'S NOT GOING FROM A PARTICULAR DEVELOPER PROJECT BUT MORE FOR A BROAD SCALE.
NOW I'M FINISHED QUESTIONS, CONCERNS.
UM, UH, YOU KNOW, WE'VE, YOU, YOU TOUCHED ON IT EARLIER OBVIOUSLY, YOU KNOW FROM TALKING FOR SOME TIME FOR YEARS NOW ABOUT UTILIZING MORE OF THE, THE TIP THUMBS TOWARDS PROJECTS THAT BENEFIT THE ENTIRE DISTRICT AS OPPOSED TO SUBSIDIZING MUTUAL DEVELOPMENT, WHICH YOU KNOW, IS HAPPENING ON ITS OWN RIGHT NOW.
AND SINCE WE'RE NOW COMING UP FIVE YEARS OR LESS, WE CLOSE OUT, I THINK NOW PERSONALLY NOWS THE TIME IS START PRESSING THOSE EFFORTS FORWARD WITH MORE URGENCY.
UM, AND I KNOW DOY, YOU AND I HAVE TALKED ABOUT IT BRIEFLY, UM,
UM, NUMBER OF IDEAS BEING BANDIED ABOUT INCLUDE, YOU KNOW, SEED MONEY FOR CAPPING 3 45 AND I 30 TO, YOU KNOW, TOWARDS THE GOALS AND THE ORIGINAL FIFTH RIGHT.
YOU KNOW, IMPROVED CONNECTIVITY WITH DOWNTOWN AND FAIR PARK, YOU KNOW, THAT WOULD ACHIEVE BOTH OF THOSE GOALS.
UM, YOU KNOW, POTENTIALLY WORKING ON A DEDICATED BIKE LANE ON CANTON.
THIS IS, YOU KNOW, THE SANTA FE TRAIL WENT DOWNTOWN.
UM, THE CULTURAL TRAIL CONNECTING THE ARTS DISTRICT DE BELL AND FAIR PARK ALTOGETHER.
UM, A LOT OF THINGS THAT ARE FOCUSED ON NOT JUST SPENDING DEBE BUT THE CITY AS A WHOLE AND OUR DISTRICTS AROUND US.
AND SO, UM, I REALLY LOOK FORWARD TO, TO WORKING HOPEFULLY HARD ON THAT NEXT YEAR AS A BOARD AND WORKING THROUGH ALL THAT FUN STUFF AND, BUT IF AGAIN, OTHER PEOPLE AGREE, OBVIOUSLY THERE'S ONE PERSON ON THIS BOARD, YOU KNOW, MAYBE, YOU KNOW, TYPICALLY WHAT WE DO AT A GIVEN YEAR IS WE JUST MEET AROUND THE END OF THE YEAR TO APPROVE THE ANNUAL PLAN AND THEN, UM, AND THEN AS NEEDED BASED OFF THE SPECIFIC PROJECT, BUT MAYBE NEXT YEAR, THIS IDEA, HOPEFULLY WE CAN PUSH FORWARD A LITTLE, LITTLE, UH, HARDER THAT WE ACTUALLY MEET DURING OUR REGULAR QUARTERLY MEETINGS.
SO CHECK ON STATUS AND TALK ABOUT THINGS AND SEE WHERE WE'RE GOING WITH ALL THAT, THAT STUFF.
AND I WOULD AGREE, YOU KNOW, WORKING WITH, IT'S GREAT TO HAVE THE FOUNDATION AND THE PIT IN PLACE TO HELP WORK THROUGH SOME OF THOSE PROJECTS.
UM, I'M ALWAYS IN SOME RESPECTS A LITTLE REACTIVE, SO LOOKING FORWARD TO KIND OF SEEING UM, WHAT THEY HAVE IN MIND IN WORKING THEM WITH STAFF, YOU KNOW, ALL BEING COORDINATING AND THE PROJECT WITH PUBLIC WORKS OR TRANSPORTATION OR PARTS.
SO INTERNALLY FLUSHING OUT, YOU KNOW, SOME OF THE IDEAS THAT COME FORWARD THAT AGREE THAT THIS WILL NOT BE A ONCE A YEAR IN 2023 WILL LIKELY NOT BE A ONCE A YEAR MEETING THAT WE'LL NEED TO GET TOGETHER ONCE WE HAVE AN IDEA.
STAFF SET A CHANCE TO REALLY EXAMINE SOMEBODY'S POTENTIAL ONE DISTRICTWIDE CLOSEOUT PROJECT.
YEAH, AND I THINK THERE'S EVIDENCE TRIGGERED WHEN YOU RECEIVE A REQUEST WELL THAT THAT'S WHAT WE'VE BEEN TALKING ABOUT RATHER THAN I CAN GO THROUGH AND MAKE UP SOME OF THE THINGS THAT THEY MAY AND I CAN START THAT, BUT IT WOULD ALSO BE GREAT TO HEAR, UM, OTHER STAKEHOLDERS, WHAT THEY'D LIKE TO SEE.
YEAH, SO ONE OF THE THINGS WE'RE TALKING ABOUT AT THE PIT FOUNDATION LEVEL IS, UM, PUTTING TOGETHER KIND OF A WISHLIST WITH THE ANTICIPATED
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COSTS PER STAFF TO REACT TO AND DIGEST AND THEN BRING FORWARD TO THE FULL VERSION.YEAH, AND I THINK THERE'S, I DON'T POINT ON IT, BUT I, I NOTICED JUST RECENTLY FROM THE PAST WEEK OR SO, CEDAR'S TIFF IS DOING A BUNCH OF SIMILAR CLOSEOUT PROJECTS AS WE SPEAK, UH, WHERE AFTER THE APPLICANT IS MORE NOT THE CITY OF DALLAS, ONE DEPARTMENT OR ANOTHER FOR THE INDIVIDUAL PROJECTS.
SO I THINK THERE'S, THERE'S GOOD PRECEDENT GOING ON RIGHT NOW WITH THE CEDARS TOWARDS SOMETHING ALONG THESE LINES.
YOU KNOW, FOR EXAMPLE, THEY'RE, WHILE THE MAYOR ARE TALKING ABOUT THE EVENTS FOR BETTERMENT ON THE I 30 REDO AND THINGS OF THAT SORT, YOU KNOW, DRESS THAT UP DONE AS WELL.
SO SOMETIMES IT'S NICE FOR US TO BE UTILIZED AS THE FUNDING SCORES WHEN THERE'S A PROJECT THAT THE BOARD AND COUNCIL KNOW THAT THEY WANT, UM, THAT WE CAN TRANSFER FUNDS FOR ANOTHER DEPARTMENT AND WORK SIDE BY SIDE FOR THE IMPLEMENTATION.
SO AGAIN, WE'RE GETTING A LITTLE OFF TRACK FROM THE AGENDA ITEM TODAY, BUT ABSOLUTELY AS FAR AS THE 2023 WORK PLAN, I THINK, UM, IT'S KINDA WHAT WE HAVE IN MIND.
AND, AND THIS IS ALSO A, IF ANY INDIVIDUAL BOARD MEMBERS HAVE A PROJECT, THEY THEY COULD BE AN CHECK PROJECT.
I ABSOLUTELY WOULD LIKE TO HEAR ABOUT IT AND IN CONCERN AND BLIND SEEING IF IT FITS IN WITH THE PROJECT AND OUR GOALS TO MOVE THAT FORWARD.
SO IT DOESN'T ABSOLUTELY DOES NOT NEED TO COME THROUGH THE FOUNDATION THAT'S RIGHT ANYMORE.
THIS FUNDS BE USED FOR LIKE SMALL BUSINESS SUPPORTS.
AN EXAMPLE I THINK IS THIS NOISE PERMITS BEING IMPLEMENTED IF A BUSINESS WANTED TO GET FUNDING SO THAT THEY COULD SOUNDPROOF THEIR VENUE BETTER, IS THAT TOWARDS THE ANSWER? BUT YOU KNOW, FOR PRACTICAL EXPERIENCE, UM, USUALLY THE, THE, THE PROCESS OF GETTING TIP FUNDS DOESN'T MAKE IT WORTH THE EFFORT UNLESS YOU'RE GOING FOR A SIGNIFICANT AMOUNT OF MONEY.
WE HAVE A SEPARATE SMALL BUSINESS DEPARTMENT THAT RESIDES SIDE ECONOMIC DEVELOPMENT AND RIGHT.
OUR PROJECTS, GAP FUNDING FOR SIGNIFICANT DEVELOPMENT PROJECTS IS REALLY WHERE IT WORKS.
SINCE THERE HAVEN'T BEEN PROJECT FUNDED SINCE 2019, GIVE OR TAKE.
WELL SOME OF THAT, YEAH, I'M JUST THINKING LIKE, AND AND ALSO GOOD MARKET CONDITIONS TO PROVE UP A GAP AND TO, YOU KNOW, OUR MONEY, WE, YOU KNOW, WE TRY TO BE USER FRIENDLY, BUT IT IS A PROCESS.
IT, IT ADDS TIME AND IT, THE APPLICATION IS QUITE IN DEPTH SO AT SOME POINT IT'S NOT, IT MAKES SENSE FOR DEVELOPERS TO JUST MOVE ON THEIR OWN.
THERE'S NOT OBVIOUSLY IF DEVELOPERS BEING ABLE TO DO WHAT THEY NEED TO DO WITHOUT THE NEED FUNDS.
SO IT, IT CAN BE HARD FOR THEM TO ARGUE THAT FUNDS WOULD NECESSARY TO MAKE THEIR PROJECT WORK.
YOU KNOW, A BIG EXCEPTION TO THAT, UM, WHICH I'M VERY PROUD OF AS BEING A PART OF THIS TIP BOARD IS THE CONTINENTAL GYM.
UH, CAUSE I HAD SUCH SIGNIFICANT CONSTANTLY TO IT AND THE INCOME PROJECT CAN, CAN TYPICALLY SHOW US THAT REVENUE, THE AFFORDABLE UNITS CREATES THE GAP AS WELL.
AND THAT'S SOMETHING WE ALWAYS LIKE TO BE ABLE TO TAKE A LOOK AT.
AND A LOT OF CASES THE UH, HOUSING LIKE REQUIREMENTS PLACE THAT BE ACCEPTANCE TO FUNDING TO DO 20% THAT'S RIGHT FOR 15 YEARS.
FOR THE VOUCHER REQUIREMENT HAS RECENTLY BEEN UPDATED BY CITY COUNCIL.
UM, IT IS NOW BEST EFFORT RATHER THAN IN DEDICATION OF THOSE UNITS THEY HAVE TO ACCEPT.
JUST SEEMED LIKE AN OUTSIDE TALK ABOUT HOW THAT DETERRED EXCUSE AS WELL.
THAT'S, THAT'S IT'S BEEN AFFORDABLE TABLE HOUSING.
IT'S BEEN A GOAL OF LEAST THIS BOARD AS LONG AS I'VE BEEN AROUND, UNFORTUNATELY HAVEN'T GOTTEN ANY APPLICATIONS YET.
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SO MOVING TO APPROVE, I'LL MAKE A MOTION TO APPROVE BOARD.AND OUR FINAL PIP TODAY IS REVIEW IN CONSIDERATION OF A REGULAR MEETING SCHEDULE FOR THOUSAND TWO, MR. COURT DIRECTOR FOR CALENDAR YEAR 2023.
THIS IS SOMETHING THE CITY OF SECRETARY OFFICE LIKES US TO KEEP.
UM, IF WE CAN TRY TO KEEP THESE DATES AS WE JUST MENTIONED, OR MAY MEET MORE FREQUENTLY, UM, WE CAN ALWAYS CALL A SPECIAL BOARD MEETING OUTSIDE OF THESE DATES IF THESE DATES DON'T WORK.
BUT, UM, UNLESS ANYONE SEES A PROBLEM WITH THEM, WE CAN JUST HAVE THESE AS OUR PLACEHOLDERS FOR NOW.
ARE THESE ALL THE FIRST WEEK OF THE MONTH? UH, YEAH, I DID WHATEVER WE'VE DONE IN THE PAST.
YEAH, SO TODAY'S TUESDAY THE SIXTH AND, AND 23.
OUR OUR UH, OUR FOUNDATION BOARD MEETING IS THE SECOND TUESDAY.
WE TYPICALLY HAVE LEAST ONE OR TWO PIT BOARD MEMBERS ON THIS BOARD.
I DID WANT CREATE DEPARTMENT THOUGH IS JUST SPECIFICALLY AT LEAST ONE MEETING PER YEAR TO GET THE RECOMMENDATION OF THIS PARTICULAR ANNUAL REPORT, WHICH ALWAYS IS DECEMBER.
AND THIS CALENDAR CAN ALWAYS BE ADJUSTED, YOU KNOW, STAFF CHAIR, EVEN THAT DECEMBER 5TH MEETING WOULD BE MOVED IF NECESSARY.
ITEM SECOND TO DO THE HONORS BACK TO WORK.
WHAT TIME? YEAH, THAT'S, I'M 1120.
SO WITHOUT THE MEETING IS ADJOURN.