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GONNA GO AHEAD AND CALL THE DESIGN DISTRICT TIP[Reinvestment Zone 08 Board Design District on December 5, 2022. ]
BOARD MEETING TO ORDER ON DECEMBER 5TH, 2022 AT 2:04 PM AND I'LL GO AHEAD AND TURN THE MEETING OVER TO OUR CHAIR.UM, JUST WANNA MAKE SURE THAT THERE'S NO PUBLIC, UM, COMMENTS.
OTHER, WE DOUBLE CHECK ON THAT.
YEAH, I DON'T SEE ANY MEMBERS OF THE GENERAL PUBLIC OUT THERE.
SO WE'LL SKIP THAT, UH, REVIEWING CONSIDERATION OF THE, UM, MAY 9TH MEETING.
UH, DOES ANYBODY HAVE ANY COMMENTS? UH, OTHERWISE, UH, RECOMMENDED GOOGLE MOTION? DO I HAVE A, UM, MOTION? I, UH, OKAY.
WAS THAT PLEASE POLL IN FAVOR.
ANY OPPOSED? UH, ITEM THREE IS REVIEWING CONSIDERATION OF REQUEST BY THE COMMAND DEVELOPMENT LLC FOR A 12 MONTH EXTENSION OF ALL MATERIAL DATES AND DEADLINES FOR ALL PHASES OF THE COMMIT HOTEL REDEVELOPMENT PROJECT PURSUANT TO CITY COUNCIL RESOLUTION NUMBER 19 18 0 4, SECTION 70.
UH, BEFORE WE VOTE ON THIS, WE DO HAVE, UH, SOME OF THE CABANA PEOPLE HERE TODAY, AND I THINK THAT WE CAN LISTEN TO WHAT THEY HAVE TOO, UH, PRESENT, AND THEN WE CAN DISCUSS THAT AND THEN WE CAN VOTE.
SO TO TAKE UP JEFF CAREY, I, I'LL HAVE MAKE A FEW COMMENTS ON THE FINANCING AND THE TIMING.
MAYBE LET ANSWER, GIVE US A LITTLE BIT, A SHORT GENERAL OVERVIEW OF THE PROJECT.
THIS PROJECT WE'VE BEEN WORKING ON SINCE 2018.
UM, WE WERE READY TO MOVE FORWARD IN 2020.
WE HAD, YOU KNOW, A PANDEMIC, UH, WHICH WAS NOT VERY GOOD FOR HOTELS AND WE'RE KIND OF A LITTLE BIT OF A PIONEERING PROJECT.
UM, UM, AND SO WE HELD OFF, UM, I, I ASKED MY CLIENT TO HOLD OFF.
I'M PROCEEDING UNTIL WE HAD A LITTLE BIT OF MORE STABILIZED, UM, HOTEL MARKET, AND REALLY YOU SAW THINGS STABILIZED FIRST QUARTER INTO THE SECOND QUARTER OF THIS YEAR.
UM, AS FAR AS THE NUMBERS ARE CONCERNED, AND WHEN I'M TALKING ABOUT THEM, I'M TALKING ABOUT THE DALLAS FORT WORTH AREA, DOWNTOWN AREA.
AND SO WE STARTED BACK UP ON THAT AT THAT TIME, AND IT'S A VERY COMPLEX FINANCIAL PROJECT, UM, AND WITH A LOT OF MOVING PIECES AND, UM, WE'VE JUST BEEN METHODICALLY MOVING FORWARD UNTIL WE GET TO THIS POINT.
WE'VE KEPT ECONOMIC DEVELOPMENT UPDATE UPDATED.
WE EVEN FLEW ALL THE CONSULTANTS IN EVERYONE FROM ALL OVER THE COUNTRY ABOUT TWO MONTHS AGO.
SO IT WAS THERE TO GET TOGETHER AND SAY, THIS IS REALLY GONNA HAPPEN, GUYS, THAT, THAT'S WHAT THAT MEETING WAS FOR.
SO, YOU KNOW, DON'T, DON'T THINK, YOU KNOW, YOU KNOW, AND, AND, AND SO, UH, WE'RE, WE'RE MOVING FORWARD TOWARDS A MARCH FINANCIAL, FULL FINANCIAL CLOSING, WHICH WOULD MEAN, YOU KNOW, A WEEK LATER, BEGINNING OF CONSTRUCTION.
UM, AND, UH, UH, UH, ONE OF THE THINGS THAT'S INTERESTING ABOUT OUR, OUR FINANCING STRUCTURE, WELL, THERE'S A LOT OF THINGS THAT ARE, I THINK ARE INTERESTING, BUT MAYBE OTHERS WOULDN'T, IS THAT WE, WE ARE BRIDGE FLOWING THE TIFF.
THERE'S NO COMMITMENT ON BEHALF OF THE CITY OR THE TIFF OR ANYTHING LIKE THAT.
IT'S RATHER THAN, UM, ESSENTIALLY SELLING THE, UM, TIFF DEVELOPMENT AGREEMENT AT A DISCOUNT.
UH, WE ARE PLANNING TO MAKE, GET A RED FLOW.
WE HAVE A COMMITMENT ACTUALLY TO GET A RED FLOW.
UM, AND WHAT HAS SPARK THIS IS, IT'S BEEN A CHICKEN OR EGG SITUATION.
WE, UH, UM, SUE AND KEVIN ONE SAYS, YEAH, YOU GOTTA PROVIDE US EVIDENCE OF FINANCING.
SO I SENT OVER THE 53 PAGES OF LETTERS OF INTENT, UH, AND, UM, AND WE HAD REQUESTED A, AN EXTENSION BECAUSE THOSE WERE ALL NEGOTIATED IN 2019 OR SO.
AND SO WE NEEDED EXTENSIONS AND, UH, WE ALSO NEED DEPTH EXECUTION, UH, OF THE
SO THAT'S KIND OF FROM THE, YOU KNOW, FROM, FROM THE FINANCIAL LEGAL STAND.
IMAGINE YOU CAN JUST DO A QUICK OVERVIEW HAND OF THE, OF THE PROJECT.
SO IT'S BEEN A WHILE SINCE WE, UH, PRESENTED TO THIS BOARD, I THINK END OF 2019.
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UH, SO MAYBE JUST A, A QUICK REFRESHER ON, YOU KNOW, PART OF THE PREMISE OF THE DEVELOPMENT AGREEMENT WASN'T JUST TO ENABLE THE REDEVELOPMENT OF THIS HISTORIC BUILDING, BUT THIS IS A VERY CHALLENGING SITE, UM, BOTH FOR JUST VEHICULAR ACCESS AND THEN IN TERMS OF NEIGHBORHOOD STREETS, IT'S JUST NOT BUILT TO BE A MIXED USE NEIGHBORHOOD YET.SO PART OF OUR, UM, YOU KNOW, PROCESS OF OUR TRAFFIC STUDIES AND JUST, YOU KNOW, SITE PLANNING AND INGRESS AND EGRESS SHOULD REALIZE THAT THE LARGER NATION DESERVE, UM, SOME INTENTION JUST IN TERMS OF, UM, THE STREET DESIGN AND WAYFINDING JUST FOR VEHICULAR ACCESS TO ACCESS OUR PROJECT EFFICIENTLY.
SO, UM, IN, IN INSIDE OF THE DEVELOPMENT AGREEMENT IS A SPECIAL ALLOCATION FOR $1.2 MILLION IN RIGHT OF WAY IMPROVEMENTS AROUND OUR PERIMETER THAT HELP, UM, WITH SOME OF THE STEPS WE'RE TAKING ON SITE IN THAT PROCESS.
ADDITIONALLY, INSIDE OF THE AGREEMENT IS A HALF MILLION DOLLAR ALLOCATION OR OFFSITE AGREEMENTS, SO, UM, WAYFINDING SIGNAGE AND, YOU KNOW, SOME OF THE OTHER KIND OF ANCILLARY NEEDS THAT WILL EXIST, UM, OUTSIDE OF THE SITE.
BUT NOW THAT, UH, THE WORLD IS BACK IN MOTION POST PANDEMIC AND OUR PROJECTS CERTAINLY IN MOTION NOW, UM, I'D LIKE TO, UH, REMIND THE, UH, THE, THE BOARD HERE AND, AND EVERYBODY PRESENT THAT, UM, THE PEER EXAM REVIEW PANEL RECOMMENDATIONS WERE VERY SPECIFIC AND I BROUGHT THEIR RECOMMENDATIONS WITH ME TO IMPROVE THE PEDESTRIAN AROUND, AROUND THE SIMMONS FREEWAY FRONTAGE AND SLOPE STREETS TO IMPROVE PEDESTRIAN PEDESTRIAN ACCESS TO THIS SITE, UTILIZE PROGRAMMING DESIGN ELEMENTS TO CREATE, CREATE MORE ACTIVITY AND VIBRANCY WITHIN THE PUBLIC GROUND ALONG SLOPE STREET.
UTILIZE THIS SITE AS A KEY CONNECTOR BETWEEN VICTORY PARK AND TRINITY RIVER.
SO OBVIOUSLY A HALF MILLION DOLLARS IN PERCENT IMPROVEMENTS WON'T, YOU KNOW, RESOLVE ALL OF THOSE ISSUES.
BUT, UM, WE CAN START THINKING, I THINK AS WE, UM, YOU KNOW, MARCH TOWARDS, UH, FILLING OUT OUR CAPITAL STACK THAT, UM, 12 TO 15 MONTHS TOWARDS CONSTRUCTION COMPLETION.
WE'D LIKE TO BE AMBITIOUS TO USE THAT TIME TO HELP FLANK OTHER EXISTING AGENDAS THERE ARE IN THE NEIGHBORHOOD, HOW WE CAN, UM, BRING THESE IMPROVEMENTS UP SLOW, COME, YOU KNOW, WHO'S BEEN TAUGHT FOR A LONG TIME AS YOU KNOW, MICHAEL, UM, ABOUT CONNECTING THE VICTORY DART STATION TO THE DESIGN DISTRICT.
LET IT BE A PRODUCTIVE PART OF THAT PROCESS.
AND THEN CONNECTING TO, UM, THE, BELIEVE IT OR NOT, THE RON KIRK PEDESTRIAN BRIDGE IS A STRAIGHT LINE CONNECTION DOWN TO WICHITA, WHICH OUR TRAFFIC STUDIES HAVE TOLD US 70% OF OUR VEHICULAR TRAFFIC INTO THAT BUILDING WILL NEED TO ROUTE AROUND AND COME THROUGH WICHITA, WHICH IS NOT AN ACTIVATED STREET.
SO, UM, THAT'S OUTSIDE THIS SPECIFIC TERMS OF OUR AGREEMENT, BUT IT'S SOMETHING THAT WILL BE, UM, AMBITIOUS AND, AND WORKING COLLABORATIVELY WITH, UM, ALL THOSE PRESENT TO, UH, TO RESOLVE PRODUCTIVELY.
A COUPLE OF, UH, I HAVE A COUPLE OF QUESTIONS.
ARE THERE ANY CHANGES IN THE REQUEST FOR THE PROJECT SINCE ALL THIS HAS HAPPENED? NO, STILL EVERYTHING'S IN PLACE.
AND THEN I THINK YOU AND I TALKED TO 1.2 ABOUT, UM, TRAIL CONNECTIONS TO EITHER STRAND OR OBVIOUSLY YOU'RE GONNA GO TO THE RIVER ANOTHER WAY, BUT YOU'RE GONNA TALK TO SLOW.
SO NOW THAT THE KATY TRAIL IS CONNECTING TO STRAND AND HIGHLINE, UH, IT MIGHT BE THAT'S A GOOD TIME TO, UH, HOW THAT'S, I'M GLAD YOU MENTIONED, I, I BROUGHT, I BROUGHT THIS, UM, SUE'S OFFICE AND I WORKED TOGETHER ALONG WITH, UH, SOME OTHER CITY DEPARTMENTS.
UM, IN THE 2020 THERE WAS A JUST A FEDERAL HALF APPLICATION.
SO JUST IN THE INTEREST OF BEGINNING TO CONTINUE THOSE IMPROVEMENTS OF SLOW, YOU KNOW, THOSE ARE IDENTIFIED IN THE 2045 UE PLAN IS A BIKE CORRIDOR.
AND KNOWING THAT IF DESIGN DALLAS DESIGN CENTER IN CUBAN, YOU KNOW, CUBAN'S ALREADY ZONED FOR 330 FOOT HEIGHT PERIODS AND THOSE 11 ACRES VEHICULAR CIRCULATION, PEDESTRIAN CIRCULATION, BIKE CIRCULATION, THERE IS, IT JUST DOESN'T EXIST YET.
UM, WE WERE KIND ENVISIONED THAT PROPOSAL AS THE FIRST STEPS IN AT LEAST GETTING THESE INITIATIVES ON PAPER.
SO, UH, AND SO HOPEFULLY SOME OF THAT LEG WORK, WHENEVER THERE'S OTHER FUNDING OPPORTUNITIES OR MULTIPLE PROJECT CAN BE DUSTED OFF.
AND TO ANSWER YOUR QUESTION MORE SPECIFICALLY AS IT RELATES TO THIS SITE AND, AND TRAIL PEDESTRIAN BIKE CONNECTIONS, SLUM BECOMING, YOU KNOW, UH, BIKE AND PEDESTRIAN ENABLED COMPLETE STREET WITH GREAT AMENITIES AND, YOU KNOW, LANDSCAPING AND THEN OBVIOUSLY ON STREET AND OFF STREET PARKING, WE PLAN ACCORDINGLY, UH, WAS OUR DREAM, THE BIGGEST DREAM VERSION OF, OF CONNECTION WITH A GROUP.
SO YEAH, WE'RE VERY MUCH, YOU KNOW, THIS IS A, A DIFFICULT PROJECT IN EXCEL, BUT WE, WE VERY MUCH UNDERSTAND AND BELIEVE THAT IT'LL BE A CATALYTIC PROJECT FOR THE SOUTHERN CHARTER DESIGN DISTRICT.
THINGS MOVING FROM THE NORTH DOWN MM-HMM.
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DOWNTOWN OVER, AND WE GOT A BIG SHOCK, THE ARM WITH PROP A, WHICH IS THREE MILES AWAY FROM, UH, NEW SUPER, UH, CONVENTION CENTER.SO, UH, WE'RE, WE'RE THINKING ABOUT THOSE THINGS AND WE'RE NOT JUST THINKING ABOUT ABOUT, ABOUT OUR PROJECT.
UM, DOES ANYBODY ELSE HAVE ANY QUESTIONS FOR THE GUYS ON THIS, UH, PROJECT, UH, EXTENSION? OKAY, WELL, I GUESS WE JUST, UH, ALL WE NEED TO DO IS A, A VOTE, A MOTION, MOTION, A MOTION TO APPROVE THE EXTENSION REQUEST.
UM, OBVIOUSLY IT WORTHWHILE SITUATION.
SO, AND JUST TO REMIND THE BOARD NOW, NO FUNDS WILL BE PAID UNTIL LIKE THINGS ARE COMPLETED.
GOOD ON MOTION FOR APPROVAL AND SECOND NICHOLAS.
ANY OPPOSED? MOTION PASSES REVIEW IN CONSIDERATION OF A DESIGN DISTRICT DISTRICT ANNUAL REPORT FOR FISCAL YEAR 21 AND 22.
UM, SO DOES, DOES ANYBODY HAVE ANY, ANY QUESTIONS? HAVE YOU HAD A CHANCE TO GO THROUGH IT? THERE'S NOT A LOT OF MAJOR CHANGES FROM LAST YEAR.
UM, THERE'S BEEN SOME NEW DEVELOPMENT, UM, EITHER PLANNED OR STARTING CONSTRUCTION IN THE DISTRICT THAT'S NOT TIF SUPPORTED A COUPLE OF OFFICE PROJECTS AND I BELIEVE THE NEXT PHASE OF HERBY TOWER HAS ALREADY BEEN ANNOUNCED.
NOT IF ANYONE WANTS TO GO OVER ANY SPECIFIC QUESTION, HASN'T, HAS NOT ASKED FOR ANYTHING ON ALL THEIR STUFF THAT THEY'RE GIVEN.
THERE'S NO OTHER GROUP THAT'S COME FORWARD AT ONCE.
WE'VE HAD CONVERSATIONS, UM, YOU KNOW, LAST FEW YEARS JUST, JUST TO KIND OF GET THE LAY OF THE LAND AND SORT OF EXPLAIN LIKE WHAT OUR EXPECTATIONS ARE OF THE PROJECT.
UH, THEN, UM, I'LL TAKE A MOTION TO APPROVE THE, UH, ANNUAL REPORT.
CURIOSITY, EASY WAY TO ACCESS THE ANNUAL FOUR STATE MOTHERSHIP DISTRICTS.
YES, WE HAVE, UM, THE APPROVED ONE LAST YEAR ON OUR WEBSITE.
AND THEN ONCE THESE GET ADOPTED BY COUNCIL AT THE END OF FEBRUARY, WE'LL UPLOAD THE NEW ONES.
BUT IF YOU GO TO THE OFFICE OF ECONOMIC DEVELOPMENTS MADE WEBSITE UNDER, I THINK IT'S AREA REDEVELOPMENT OR PROGRAMS AND AREA REDEVELOPMENT, ALL OF THEM ARE THERE ONLINE.
SO WE, YOU'RE TALKING ABOUT OUR, UH, MEETING SCHEDULED FOR 2023.
AND AGAIN, THESE ARE JUST PLACEHOLDER DATES.
WE, UM, WERE ASKED TO, TO SET A RECORD QUARTERLY SCHEDULE FOR THE YEAR.
SO WE'LL ONLY, UM, YOU KNOW, ONLY IF WE HAVE BUSINESS WHERE WE HOLD THESE MEETINGS, WE'LL PROBABLY DEFINITELY HAVE OUR DECEMBER 4TH ANNUAL REPORT MEETING.
THE OTHER MEETINGS ARE REALLY KIND OF SUBJECT TO HAVING, UH, BUSINESS, YOU KNOW, WE MAY CALL SPECIAL CALL MEETINGS IF SOMETHING COMES UP.
I'M HOPING THAT THE DESIGN FOR, UH, THE, THE HIGHLINE SPAN PROJECT WILL BE BACK EARLY PART OF THE YEAR WITH SOME UPDATES, BUT WE'LL JUST HAVE TO KIND OF SEE FOR NOW.
SO WHERE ARE THOSE, UM, DATES? OH, PACKET PROBABLY, PROBABLY BEHIND THE END REPORT ON STAGE.
WAS THAT THE FEBRUARY DATE IS PRESIDENT'S DAY WEEKEND.
IS THAT A HOLIDAY ANNIVERSARY OR? IT IS.
UM, I, MONDAY, LET ME DOUBLE CHECK.
I THOUGHT IT WAS TRYING TO AVOID, UM, I THOUGHT IT WAS A WEEK AFTER THAT, BUT I THINK I MIGHT BE OUTTA TOWN.
13TH IS A HOLIDAY FOR CERTAIN SCHOOLS.
IT'S NOT, AND AGAIN, I DON'T KNOW IF WE'LL MEET THAT MEETING OR PAROLE.
WELL WE'LL GET DESIGNED TO GET SOME KINDA UPDATE.
HOPEFULLY WE HAVE, IS THERE ANYBODY IN THE CITY THAT CAN HELP THEM PUSH WITH THE
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CORPS OF ENGINEERS, THE WATER CHECK FOLKS KIND OF KNOW THE PROCESS.SO I THINK, UM, THEIR TEAM HAS BEEN IN CONDUCT WITH SARAH.
UM, IF Y'ALL WANNA MOVE IT TO FEBRUARY 27TH, IT'S COME UP TO YOU, BUT, UM, I DON'T WANNA DO IT THE EARLIERS IN FEBRUARY CAUSE I DON'T WANT THESE GUYS GONNA BE READY TO COME BACK.
DO YOU WANNA LEAVE THAT TENTATIVE A LITTLE CLOSER? YEAH, LET'S DO THAT.
WELL, WE DO NEED TO SET A SCHEDULE, SO WHY DON'T WE JUST SET IT AND THEN IF WE NEED TO CHANGE IT YEAH.
SO WE'LL JUST KIND OF MAKE THAT ADJUSTED.
HOPEFULLY THE OTHER FOLKS JOINING US ONLINE HEARD THAT.
UM, SO WE CHANGED THE FIRST QUARTER TO FEBRUARY 27TH, 2023.
UH, WE STILL HAVE DECEMBER 4TH AND THE MAY 15TH AND SEPTEMBER 11TH OR SORRY, NOW.
UH, SHOULD BE, I'LL MAKE UP MOTION.
ALL IN FAVOR OF THE MEETING SCHEDULE FOR 2023.
UM, OKAY, BEFORE WE ADJOURN, DOES ANYBODY HAVE ANY OTHER BUSINESS THEY WANNA DISCUSS, BRING FORWARD? ANYTHING YOU WANNA BRING UP AT THE NEXT MEETING SINCE WE CAN'T REALLY TALK ABOUT NON HOST OF STAFF, BUT HOPEFULLY THE DESIGN MEETING WILL BE DONE.
I CAN TALK ABOUT ROUND, UM, YEAH, YEAH, IF YOU WANNA THROW THAT OUT.
SO, SO JUST A LITTLE BACKGROUND ON THE JINGLE.
BELL RUN, IT'S THE 20TH OF, UH, THIS MONTH AND IT IS OUR MAIN FUNDRAISER FOR THE TRINITY GRAND TRAIL PROJECT, WHICH IS, UM, OBVIOUSLY VERY IMPORTANT TO THE DISTRICT AND HAS HAD GIFT SUPPORT AND BOND SUPPORT, HAD ALL KINDS OF SUPPORT, COUNTY SUPPORT, UH, OVER THE YEARS.
AND WE'RE IN DESIGN TO DO THIS BRIDGE PROJECT.
SO IT'S, IT'S, IT'S REALLY IMPORTANT THAT WE, WE HAVE HAD TWO YEARS WHERE THERE WAS NO, UM, EVENT BECAUSE OF THE PANDEMIC.
SO BRINGING IT BACK THIS YEAR, HOPEFULLY WE CAN GET ENOUGH WORD OUT THAT IT WILL BE REAL SUCCESSFUL.
WE DO IT WITH THE MAVERICKS FOUNDATION AND THEIR FOUNDATION IS, UM, KIDS AND, UH, EDUCATION ORIENTED PREDOMINANTLY, I BELIEVE.
UM, AND OURS OBVIOUSLY GOES ALL TO THE, TO THE STRAND TRAIL.
SO IF ANY OF YOU WOULD BE, UH, INTERESTED IN HAVING A, A POSTER FOR YOUR, UH, STOREFRONT, THAT WOULD BE GREAT.
UM, IF YOU HAVE AN EMAIL LIST THAT YOU CAN SEND OUT TO, WE CAN PROVIDE YOU WITH INFORMATION.
IF THERE'S ANYBODY YOU KNOW THAT MIGHT WANNA SPONSOR, UM, THAT WOULD BE ALSO GREAT.
BUT OTHERWISE JUST COME, IT'S A REALLY A LOT OF FUN.
IT'S AN EVENING RACE, UH, STARTS AT SIX 30 FOR A ONE MILE FUN RUN AND SEVEN O'CLOCK FOR THE 5K.
AND THEN WE COME BACK INTO THE ANTO, IT GOES OUT AND BACK FROM THE ANATO UH, HOTEL.
AND UH, WE HAVE ONE OF THEIR BIG BALLROOMS THERE RIGHT ON WHITECLIFF AND, UH, EMERALD CITY IS THE BAND THIS YEAR AND THEY'RE REALLY POPULAR LOCAL BAND AND WE HAVE FREE FOOD DRINK.
SO THAT'S MY PITCH FOR THAT
WE ACTUALLY GAVE THEM A SPONSORSHIP CUZ THEY'VE BEEN SO AVAILABLE TO US.
AND THEY'RE, UM, THEY'RE PEOPLE AND I THINK THEY'RE, ANY OF THEIR PEOPLE CAN COME AND, AND DO THE EVENT FOR FREE.
SO THAT'S, THAT'S, THAT'S ALL ON THAT.
APPRECIATE ANY SUPPORT THAT WE OR ANYONE ON THAT.
UM, SO I GUESS THAT'S, THAT TAKES CARE OF IT AND, UH, ADJOURNED.