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[Dallas TOD TIF District Board of Directors Meeting Notice Reinvestment Zone Number Seventeen on December 6, 2022. ]
UH, CALL THE, UH, T O D TIF BOARD MEETING TO ORDER ON DECEMBER 6TH, 2022 AT 2:04 PM AND I'LL GO AHEAD AND TURN, UH, THE MEETING OVER TO OUR VICE CHAIR, RIGHT? UM, SO WE CAN, UH, GO AHEAD AND GET STARTED, UM, ON THE AGENDA, UM, FIRST FIVE BEING THE PUBLIC COMMENTS FOR AGENDA ITEMS TWO, THREE, AND FOUR.I DON'T THINK WE HAVE ANY MEMBERS OF THE GENERAL PUBLIC IN ATTENDANCE.
UM, SO THEN THE NEXT ITEM WOULD BE TO, UH, REVIEW THE, UH, MEETING RECORD FROM AUGUST 30TH.
UM, WE HAVE A MOTION FOR APPROVAL.
I'LL MAKE A MOTION THAT WE APPROVE THE AUGUST 30TH MINUTES.
SO NOW, UM, SORRY TO BACK OVER TO SUE TO REVIEW THE ANNUAL REPORT.
WE CAN, UM, GO AHEAD AND GO THROUGH SOME HIGHLIGHTS.
JOSEPH, IF YOU'RE ABLE TO PULL IT UP ON THE SCREEN, THAT'D BE GREAT.
I'LL JUST KIND OF HIT THE HIGH POINTS, UM, OF WHAT'S NEW FROM LAST YEAR.
IF YOU CAN GO AHEAD, UM, START, UM, ON PAGE, UM, PAGE FIVE.
SO, UM, AND ACTUALLY LET'S GO MAYBE ONE MORE.
SO, UM, IN THE LAST YEAR THERE WERE A COUPLE OF PROJECTS, UM, REVIEWED AND APPROVED BY THE, THE TIF BOARD AND CITY COUNCIL.
UM, THE MOCKINGBIRD STATION EAST PROJECT, UM, IS NOTED ON THE, UM, ON THE CHART, UM, 429 OF RESIDENTIAL UNITS AS WELL AS INFRASTRUCTURE.
UM, AT THE MOCKINGBIRD STATION AREA.
WE ALSO HAD THE, UM, THE LONGHORN BALLROOM REDEVELOPMENT PROJECT.
UM, THAT WAS OUR MOST RECENT PROJECT.
UM, SO I WANT TO GO AHEAD AND JUST NOTE THOSE AS A NEW THING, UM, FOR THIS YEAR.
AND I WAS JOKING WITH, WITH RAVI THAT FOR FOLKS WHO'VE BEEN ON THE BOARD FOR A LONG TIME, IT'S, IT'S BEEN MANY YEARS SINCE WE'VE HAD SOME NEW PROJECTS.
SO I WAS EXCITED THAT WE HAD TWO IN ONE YEAR.
YOU CAN GO AHEAD AND JUMP THEN TO, UM, PAGE, UH, EIGHT.
SO PAGE EIGHT, I'M JUST NOTING A COUPLE OF UPDATES ON THE MIXED INCOME HOUSING SUMMARY.
SO THE MOCKINGBIRD STATION EAST PROJECT WILL HAVE 20% OF THE UNITS, UM, AFFORDABLE AT 80% AMI BASED ON THE TIF DISTRICT GUIDELINES.
UM, THEN IF YOU GO TO THE NEXT PAGE, THERE'S A COUPLE OF OTHER PROJECTS THAT INVOLVE, UM, OTHER CITY SUPPORT, UM, WITH AIM OF BRINGING MORE MIXED INCOME UNITS TO THE DISTRICT.
UH, ONE IS A PUBLIC FACILITIES CORPORATION PROJECT THERE AT SOUTH LANCASTER AND ON THE SITE THAT, UM, SOME OF YOU MAY KNOW WAS THE FORMER PATRIOTS CROSSING SITE ACROSS FROM THE VETERANS HOSPITAL.
SO, UM, THAT PROJECT WILL BRING, UM, 332 UNITS, UM, AT A MIX OF INCOMES.
AND THERE'S ALSO A PROJECT CALLED SKYLINE AT CEDAR CCRT ALONG EAST KEITH BOULEVARD THAT IS HAVING A COMBINATION OF HOUSING TAX CREDITS AND, UM, CITY COUNCIL SUPPORT, UM, FOR 3.75 MILLION HOME FUNDS TO BRING A MIXED INCOME, UM, UNITS AS WELL TO THAT CORRIDOR.
AND ON THE, UH, PAGE HERE, WE HAVE A, A RENDERING OF THE, UM, THE LANCASTER PROJECT, THE, UH, THEY'RE CALLING AVALAR HEAD TO PAGE 11.
JUST A QUICK LITTLE RENDERING OF THE, UM, THE LONGHORN BALLROOM REDEVELOPMENT PROJECT THAT WAS RECENTLY REVIEWED.
WE CAN GO AHEAD AND JUMP TO PAGE 17.
AND THIS IS OUR, UM, OUR ANNUAL SUMMARY OF, UH, VALUE AND INCREMENT FOR THE DISTRICT.
SO BASED ON THE 2022, UM, CERTIFIED VALUE FOR THE DISTRICT, THE VALUE WAS, UM, A LITTLE OVER 800, 2 MILLION.
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UM, THIS REPRESENTS AN INCREASE OF OVER 600 MILLION FROM THE BASE SHARES.AND BASED ON, UM, THIS LEVEL OF REVENUE, WE WOULD ANTICIPATE, UM, COLLECTING, UM, A LITTLE OVER 4.5 MILLION IN, IN TAX REVENUE FOR THE TAX YEAR 2022, WHICH IS COLLECTED IN, UM, SPRING OF 23.
AND IN TERMS OF WHERE WE'RE WITH GOALS, UM, WE'RE AT ABOUT 26% OF THE, THE GOAL IN TERMS OF NEW INVESTMENT.
UM, WE'RE ESTIMATING THAT ABOUT 641 MILLION AND NEW INVESTMENTS COMPLETED UNDERWAY ARE PLANNED IN THE DISTRICT.
IN TERMS OF DEVELOPMENT, UM, WE'RE AT ABOUT, UM, 12% OF THE OFFICE GOAL AND ABOUT 19% OF THE RESIDENTIAL ROLE FOR THE DISTRICT.
UH, LOOKING AHEAD TO PAGE 19, UM, COUPLE OF UPDATES SINCE THE VERSION THAT WAS SENT OUT, UH, LAST WEEK.
UH, THERE, UH, THE SECOND BULLET, UM, WANTED TO HIGHLIGHT, UM, SOME OF THE EFFORTS TOWARDS, UM, PARTNERSHIPS WITH COLLEGES AND JOB TRAINING.
THE, UH, FORMER URBAN LEAGUE, UH, BUILDING WAS REDEVELOPED INTO WHAT'S CALLED THE 43 15 INNOVATION CENTER.
UH, DALLAS COLLEGE IS A LEAD TENANT IN THAT BUILDING AND THEY'RE DOING A LOT OF WORKFORCE TRAINING, UM, PARTICULARLY CONSTRUCTION TRADES THERE AT THAT BUILDING.
UH, THE PHOTO BELOW IS OF A, UM, A RIBBON CUTTING, UM, THAT WAS HELD IN OCTOBER OF 21.
UM, ELECTED OFFICIALS, THE MAYOR, UM, MAYOR PRO ARNOLD, UM, THE CHANCELLOR OF DALLAS COLLEGE, AS WELL AS, UM, OTHER FOLKS WERE THERE.
UM, ALSO WANTED TO MENTION THAT WITH OUR LONGHORN BALLROOM REDEVELOPMENT PROJECT, THAT THERE WAS A PROVISION FOR, UM, A PARTNERSHIP WITH DALLAS COLLEGE OR AN EQUIVALENT PROVIDER TO BRING, UM, UM, LEARNING EXPERIENCES FOR STUDENTS IN THE, THE MUSIC INDUSTRY.
UH, JUMPING AHEAD TO PAGE 21, THIS IS A SUMMARY OF, UH, MEETINGS FOR THE YEAR.
WE, UH, THE BOARD MET THREE TIMES DURING THE FISCAL YEAR AND THE, UM, ATTENDANCE OF THE BOARD MEMBERS IS LISTED THERE.
IF THERE'S ANY, UM, CORRECTIONS NEEDED, PLEASE LET ME KNOW.
UM, ALSO A LISTING OF, UH, COUNCIL ITEMS EITHER DIRECTLY OR INDIRECTLY ASSOCIATED WITH THE DISTRICT.
UM, THERE IS, UM, THERE WAS A MEMORANDUM OF UNDERSTANDING APPROVED BETWEEN THE CITY AND DART.
UM, THE CITY, UM, IS BEING ALLOWED TO MARKET, UM, PROPERTY, UM, THAT'S OWNED BY DART AT SIX, UM, DART STATIONS TO ENCOURAGE POTENTIAL DEVELOPMENT.
ONE OF THOSE SIX STATIONS IS, UM, THE EIGHTH AND CORINTH DART STATION AND THE SPECIFIC RM P FOR THAT SITE, UM, HAS GONE OUT.
I'M NOT SURE IF IT'S CLOSED YET, BUT I KNOW THAT THAT RFP, UM, IS OUT THERE.
WE'VE HAD THE ANNUAL REPORT APPROVAL BY COUNCIL.
UH, WE HAD THE, UM, COUNCIL APPROVAL OF THE TWO, UH, NEW PROJECTS FOR THE DISTRICT, MOCKINGBIRD STATION EAST, AND THE, UH, LONGHORN BALL WERE REDEVELOPMENT.
AND THEN ALSO, UM, GOING PAGE 22, UM, COUNCIL ALSO APPROVED, UM, AGREEMENTS ASSOCIATED WITH THOSE TWO MIXED INCOME PROJECTS.
UM, THE SKYLINE OF CEDAR CREST AND THE, UH, TROBE LAR, THEY'RE ON SOUTH LANCASTER.
UH, WE CAN TAKE A QUICK LOOK AT, UH, PAGE 23.
THIS IS, AGAIN, THIS OUR PROJECTED BUDGET.
THIS REALLY REPRESENTS POTENTIAL LIKE CAPACITY, UM, IN THE BUDGET, NOT NECESSARILY DOLLARS COLLECTED.
UM, AT THIS POINT, YOU KNOW, BASED ON TRENDS, UM, IT'S UNLIKELY THAT THE DISTRICT IS GONNA ACHIEVE IT'S MAXIMUM BUDGET CAPACITY, BUT WE'LL KIND OF CONTINUE TO MONITOR THAT AND, AND ADJUST, YOU KNOW, MORE RIGOROUSLY AS WE GET CLOSER TO THE END OF THE TERM OF THE DISTRICT OF, UH, LOOKS LIKE PAGE 25, JUST, UM, GENERAL WORK PROGRAM FOR THE UPCOMING YEAR WILL CONTINUE TO SUPPORT, UM, TO FUNDED PROJECTS.
WE'LL CONTINUE TO COORDINATE WITH DART, UM, ON REDEVELOPMENT EFFORTS.
UM, CONTINUE TO LOOK FOR WAYS TO SUPPORT, UM, CONNECTIONS TO TRAILS AND OPEN SPACE AND, UM, FUNDING SOURCES FOR THE DISTRICT.
UH, BEGINNING ON PAGE 26, WE HAVE THE FINANCIAL STATEMENTS FOR THE DISTRICT.
AND I HAVE, UM, FINANCE STAFF HERE.
IF, UM, ANYONE HAS SPECIFIC QUESTIONS.
UM, IT'S ALREADY BEEN NOTED THAT OUR ADMINISTRATIVE COST FOR FISCAL YEAR 22 ARE STILL PENDING.
THOSE ARE USUALLY FAIRLY NOMINAL AND WE WILL UPDATE, UM, THE REPORT BEFORE IT GOES TO CITY COUNCIL IN FEBRUARY.
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TO PAGE 30.GO ONE MORE, I THINK, UH, ACTUALLY TO A COUPLE MORE TO PAGE 30.
SO THIS JUST LISTS, UM, A COUPLE OF THE OUTSTANDING OBLIGATIONS, UM, PENDING EXECUTION OF DEVELOPMENT AGREEMENTS.
WE HAVE, UM, 29 MILLION COMMITMENT TO THE MOCKINGBIRD STATION EAST PROJECT, WHICH, UM, AT THIS POINT WE'D ANTICIPATE A FULL PAYOFF IN, UM, CALENDAR YEAR 2033 FOR THE, UH, LONGHORN BALLROOM, WHICH IS AN OBLIGATION OF UP TO 2.1 MILLION WE'D ANTICIPATE, UM, MEANING THAT OBLIGATION BY CALENDAR YEAR 2024.
UM, THE JUMPING AHEAD TO PAGE 32, UM, IN OUR APPENDIX, THERE'S ONLY, UM, INDIVIDUAL DART STATION, UM, STATISTICS FOR, UM, THE LAST FISCAL YEAR.
I WILL MAKE, UH, JUST A GENERAL COMMENT THAT, UM, YOU KNOW, THE PANDEMIC IMPACTED RIDERSHIP PRETTY DRASTICALLY, BUT WE ARE SEEING TRENDS THAT, UH, RIDERSHIP HAS BEGUN TO RECOVER, UM, THIS PAST FISCAL YEAR.
AND, UH, WITH THAT I'LL JUST HAPPEN TO ANSWER ANY SPECIFIC QUESTIONS ABOUT THE REPORT.
WE CAN, I JUST STOP SHARING JOSEPH.
EASIER TO SEE EVERYONE IF WE DON'T HAVE THE SCREEN UP.
UM, DO WE HAVE A MOTION TO APPROVE? THIS IS ALISON GRIFFIN.
I MOVE THAT WE APPROVE THE ANNUAL REPORT.
ALTHOUGH SUE, I DID SEND YOU ONE SMALL CORRECTION, WHICH IS MY NAME IS MISSPELLED, BUT OTHER THAN OKAY, THANKS.
AS AMENDED,
SO NEXT WE HAVE THE, UM, REVIEW OF OUR REGULAR MEETING SCHEDULE.
SO THESE ARE JUST, UM, PLACEHOLDER DATES.
WE ALWAYS NEED TO SET A QUARTERLY SCHEDULE FOR THE YEAR.
UM, THE ONLY REAL LATE CERTAIN IS OUR ANNUAL REPORT MEETING IN DECEMBER.
THE OTHERS WILL BE KIND OF SUBJECT TO HAVING, UM, BUSINESS.
AND THEN, UM, SOMETHING COMES UP AND WE NEED TO CALL A SPECIAL CALL MEETING.
JONATHAN WAS TRYING, YOU MUTED JONATHAN, MY MOTION TO APPROVE THE SCOPE.
UH, THEN I THINK WE'RE READY TO ADJOURN.