[Dallas Housing Finance Corporation on September 13, 2022.]
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JUST[00:16:03]
DOING[00:16:03]
AN AUDIO CHECK.CAN YOU GUYS HEAR ME ON, ON VIRTUALLY? JUST WANNA MAKE SURE YOU GUYS CAN HEAR ME.
AND EVERYBODY IN THE WEBEX HERE, ME AND US, I GUESS.
AND THAT SERVED AS AN AUDIO AND VIDEO CHECK.
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SO, ALL GOOD.I THINK WE'RE WAITING FOR, UH, ONE DIRECTOR WHO SAID THEY WERE GONNA BE PRESENT.
UH, WE'RE GOING TO CALL TO ORDER THE SEPTEMBER 13TH MEETING OF THE DALLAS HOUSING FINANCE CORPORATION BOARD OF DIRECTORS.
UM, AARON, CAN YOU LEAD US ON THE ROLL CALL, PLEASE? SURE WILL.
IF I READ YOUR NAME, PLEASE JUST SAY PRESIDENT, OR HERE.
I KNOW SHE WAS HAVING SOME TECHNICAL ISSUES.
I'LL FOLLOW UP WITH HER OFFLINE.
UM, AND DIRECTOR PATTY COLLINS? HERE.
PATTY, CAN YOU, CAN YOU TURN ON YOUR VOLUME? I DIDN'T HEAR YOU HERE.
OKAY, WE GOT THE ROLL CALL DONE.
NOW WE'LL MOVE INTO PUBLIC TESTIMONY, UH, FOR ANY COMMENTS ON ITEMS FOUR THROUGH 13, UM, ANYONE FROM THE PUBLIC CARE TO MAKE A COMMENT? ANYONE ONLINE GOING ONCE, TWICE.
MOVING ON TO ITEM NUMBER FOUR, APPROVAL OF THE MINUTES FROM THE AUGUST 9TH, 2022 D H F C MEETING.
DO WE HAVE A, THIS IS SO MOVED.
UM, BEFORE WE MOVE ON TO ITEM NUMBER FIVE, UM, I BELIEVE BRAD, UH, WOULD YOU CARE TO SPEAK FOR A MINUTE? YEAH.
UH, SO THIS IS MY LAST, UH, MEETING AS A DIRECTOR OF THE HFC AND AS VICE PRESIDENT OF THE HFC.
UM, WHEN WE REORGANIZED THE ORGANIZATION A FEW YEARS AGO, PART OF THE PACKAGE OF ETHICS REFORMS THAT WE PUT IN PLACE WERE TERM LIMITS.
UM, I'M A FIRM BELIEVER IN THOSE, AND MY TERM HAS EXPIRED.
UH, AND SO I'M NOT SEEKING REAPPOINTMENT, UH, AND EXPECT THAT THERE'LL BE A, A NEW DISTRICT ONE REPRESENTATIVE APPOINTED, UH, SHORTLY.
UH, I WANTED TO SAY, UH, FIRST OFF, I NEED TO FORMALLY RESIGN AS VICE PRESIDENT EFFECTIVE IMMEDIATELY.
SO YOU CAN VOTE ON THE NEXT ITEM.
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I'LL RESIGN AS A DIRECTOR, UH, EFFECTIVE AFTER THIS MEETING SO WE DON'T LOSE A QUORUM.UM, BUT I, I'M GRATEFUL TO YOU ALL, UM, FOR THE CHANCE TO SERVE ALONGSIDE YOU AND SERVE THE RESIDENTS OF DALLAS, UH, AND SPECIFICALLY THE RESIDENTS OF THE PROJECTS THAT WE'VE DEVELOPED.
UM, EIGHT YEARS AGO WHEN I JOINED THIS ORGANIZATION, UH, IT WAS A SMALL BOARD THAT WAS DOMINATED BY FOLKS WHO WERE IN THE AFFORDABLE HOUSING BUSINESS.
UM, THERE WAS CHAOS AT THE STAFF LEVEL.
UM, AND OVER THE COURSE OF EIGHT YEARS, UH, I'M VERY PROUD OF, UM, THE ORGANIZATION THAT WE'VE BECOME.
I'M PROUD OF THE PROJECTS, UH, ESPECIALLY IN MORE RECENT YEARS THAT WE'VE DEVELOPED.
UH, I THINK WE HAVE, UH, DONE OUR PART TO ADDRESS THE SHORTAGE OF AFFORDABLE HOUSING IN DALLAS, UH, AND TO PROVIDE QUALITY HOUSING THAT FOLKS ARE PROUD TO LIVE IN.
UM, SO I'M GRATEFUL FOR YOUR, UH, SERVICE ALONGSIDE, UH, APPRECIATE, UH, KYLE AND AARON AND THE REST OF STAFF, UH, AND ALL THEIR SUPPORT, AND LOOK FORWARD TO SEEING WHAT THE H F C DOES GOING FORWARD.
BRAD, THANK YOU SO MUCH FOR YOUR SERVICE.
UM, AND WE APPRECIATE EVERYTHING YOU'VE PUT INTO THE BOARD OVER THE PAST EIGHT YEARS.
UM, WITH THAT BEING SAID, WE'LL MOVE INTO ITEM NUMBER FIVE, ELECTION OF VACANT BOARD OFFICER POSITIONS.
UM, I JUST WANTED TO, UH, TO THANK BRAD SO MUCH.
UM, I'M HAPPY HE MENTIONED, UH, THE WORK THAT HAD TO BE DONE TO BRING THIS BOARD TO WHERE IT IS TODAY.
AND, UH, BRAD, BRAD AND I KIND OF DID THAT SIDE BY SIDE, BUT, UH, BRAD WAS JUST, UM, SO WONDERFUL AND SPENT SO MUCH OF HIS TIME AND WAS SUCH A VALUABLE RESOURCE.
AND I JUST WANTED TO THANK HIM SO MUCH FOR HIS SERVICE.
AND, UH, I JUST, I APPRECIATE, UM, BRAD'S GUIDANCE THROUGHOUT THE YEARS.
I CAME ON THE BOARD NOT REALLY KNOWING THE HISTORY, BUT, BUT SEEING THE WORK THAT, UH, ALL OF OUR LONGER TENURED, UH, DIRECTORS HAVE PUT INTO THIS ORGANIZATION AND CORPORATION.
I JUST WANNA SAY THANK YOU AND APPRECIATE YOUR LEADERSHIP AND GUIDANCE ON, ON, UH, ALL THINGS AFFORDABLE HOUSING AND HOUSING FINANCE CORPORATION.
AND YOU'RE DEFINITELY LEAVING THIS CORPORATION IN A BETTER SPOT THAN, THAN WHEN YOU JOINED US.
THANK YOU ALL FOR YOUR KIND WORDS.
SO NOW, UM, ITEM NUMBER FIVE, ELECTION OF VACANT BOARD OFFICER POSITION.
UM, DO WE HAVE ANY NOMINATIONS FOR THE POSITION? THIS IS PRESIDENT HAL FINN.
UM, I WOULD LIKE TO NOMINATE SECRETARY RYAN GARCIA TO MOVE INTO THE POSITION OF VICE PRESIDENT.
UM, YOU'VE SERVED THIS BOARD FOR, UH, QUITE A WHILE NOW, AND YOU'VE, UH, BEEN A WONDERFUL SECRETARY.
AND, UM, AND I WOULD LOVE TO SEE YOU MOVE INTO THE VICE PRESIDENT POSITION.
SO I HEREBY NOMINATE YOU FOR THAT.
UH, THANK YOU BOTH AND I'LL ACCEPT THE NOMINATION.
UM, ANY OTHER NOMINATIONS? UM, SEEING NONE, I GUESS WE'LL JUST CLOSE, CLOSE NOMINATIONS AND BY ACCLIMATION.
WELL, THANK YOU VERY MUCH FOR EVERYONE'S, UH, CONFIDENCE IN ME.
UM, THIS WOULD NOW CREATE A VACANCY FOR THE SECRETARY ROLE.
UM, SO DO WE HAVE A MOTION TO OPEN, UM, OPEN ELECTIONS FOR THE SECRETARY ROLE? HEY, RYAN.
I THINK I'VE BEEN TOLD THAT YOU CAN ACTUALLY HOLD SECRETARY AND VICE PRESIDENT AT THE SAME TIME, SO TECHNICALLY YOU WOULD HAVE TO RESIGN FIRST AS WELL.
AS SECRETARY IN THAT CASE, I WILL RESIGN FROM THE ROLE OF SECRETARY.
UM, NOW DO WE HAVE ANY NOMINATIONS FOR THE ROLE? I HAVE A NOMINATION FOR THAT ONE AS WELL.
I'D LIKE TO NOMINATE ANTHONY PAGE, UH, FOR THAT POSITION.
UM, AGAIN, I, I THINK THAT, UH, THAT HE HAS WORKED REALLY HARD EVER SINCE HE CAME ONTO THIS BOARD AND, UM, AND THINK HE WOULD DO A GREAT JOB TO BECOME OUR SECRETARY.
I WILL SECOND THAT NOMINATION.
WHAT, WHAT AREA DOES ANTHONY COVER? WHAT DISTRICT CITY COUNCIL DO? OH, UM, DISTRICT 14.
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HEY, THIS IS DR.I WOULD LIKE TO NOMINATE TATIANA FARROW AS WELL, UM, FOR THE POSITION OF SECRETARY, UH, BECAUSE OF HER INVOLVEMENT, UH, WITH THE NATIONAL, UM, ESPECIALLY GOING TO CONFERENCES AS WELL AS HER INVOLVEMENT LOCALLY.
WHAT, WHAT DISTRICT DOES SHE COVER OR WHO AREA? OH, I'M THE DIRECTOR FOR DISTRICT SIX.
UH, DO WE HAVE A, A SECOND? UH, THIS IS DIRECTOR LEWIS.
WE HAVE TWO, UH, TWO NOMINEES.
WE WILL CLOSE THE FLOOR TO NOMINATIONS AND NOW WE'LL MOVE INTO THE, TO THE ELECTION PORTION.
UM, DO WE WANT TO DO THE, HOW WOULD WE LIKE TO DO THIS BY ROLL CALL OR BY ROLL CALL? OKAY.
UM, SINCE I'M THE ONLY NOMINEE FOR VICE PRESIDENT, DO WE NEED TO DO THAT ONE OR NO? NO.
SO WE WILL CLOSE THE ELECTION FOR VICE PRESIDENT AND MOVE INTO THE ELECTION FOR SECRETARY.
WE HAVE, UH, DIRECTOR PAIGE AND DIRECTOR PHARAOH.
WE'LL GO THROUGH AND DO A ROLL CALL.
SO, UM, JUST BE READY WHEN, UH, WHEN YOUR NAME IS CALLED.
UH, WE'LL START WITH, UH, PRESIDENT HELLAND, DIRECTOR PAIGE.
UM, I WILL VOTE FOR DIRECTOR PAGE.
UM, DIRECTOR MARTINEZ, UH, FOR DIRECTOR FARRELL.
UM, DIRECTOR LAPAZ AND DIRECTOR? UH, DIRECTOR ELLIS.
I WILL, UM, VOTE FOR, UM, FARRELL, DR.
DIRECTOR FARRELL, UM, DIRECTOR LIGHT BURN.
I WAS ACTUALLY GONNA VOTE FOR DIRECTOR PAIGE BASED ON HIS EXPERIENCE AND EVERYTHING HE'S DONE ON THE BOARD.
UH, DIRECTOR LEWIS? I VOTE FOR DIRECTOR PAGE.
I VOTE FOR DIRECTOR PAGE AS WELL.
UH, DO YOU, UM, CAST A VOTE? YES, DR.
CAN YOU HEAR ME? UH, DO, UH, DIRECTOR FAROH? CORRECT.
UM, WE'LL JUST TOTALING IT UP RIGHT NOW.
I HAVE FOUR FOR DIRECTOR PHARAOH, AND FIVE FOR DIRECTOR PAGE.
YEAH, IT SOUNDS LIKE, UM, BY VOTE OF FIVE TO FOUR, UH, DIRECTOR PAGE HAS WON THE ELECTION.
YEAH, I THINK THAT'S, THAT'S IT FOR THAT ITEM.
UM, NOW WE'LL MOVE ON TO THE INDUCEMENT RESOLUTIONS.
UM, I'D LIKE TO ASK THE BOARD, UM, JUST TO MAKE SURE WE HAVE ENOUGH TIME, WE HAVE QUITE A FEW INDUCEMENTS TO GET THROUGH TODAY.
IF WE COULD TRY TO BALLPARK ABOUT 20 MINUTES, UH, FOR EACH, UH, INDUCEMENT, GIVE EVERYONE TIME TO PRESENT, READ THROUGH THE MOTIONS, OF COURSE, IF THERE'S SOMETHING THAT NEEDS TO BE SAID FOR THE GOOD OF THE GROUP, NO PROBLEM AT ALL.
JUST WANNA MAKE SURE EVERYONE GET, GETS A FAIR SHAKE.
SO LET, UH, DOES THAT WORK FOR EVERYBODY THEY NEED? GIVE IT SOME, YEAH.
UH, WE'LL, WE'LL, WE'LL BALLPARK 15 MINUTES THEN, UH, PER, PER RESOLUTION.
AND AGAIN, IF SOMETHING NEEDS TO BE SAID FOR THE GOOD OF THE GROUP, PLEASE DON'T HESITATE TO ASK.
OTHERWISE, FEEL FREE TO ASK STAFF OR THE DEVELOPERS ARE HERE DIRECTLY.
UM, THAT BEING SAID, WE'LL MOVE INTO ITEM NUMBER SIX, CONSIDERATION AND POSSIBLE ADOPTION OF A RESOLUTION.
DECLARING INTENT TO ISSUE BONDS FOR A LOAN TO L L D G, THE CROSSING AT CLEAR CREEK LP TO PROVIDE FINANCING FOR A MULTI-FAMILY RESIDENTIAL RENTAL DEVELOPMENT FOR, FOR PERSONS OF LOW AND MODERATE INCOME.
THE CROSSING AT CLEAR CREEK, LOCATED AT THE NORTHEAST CORNER OF US, HIGHWAY 1 75 AND WOODY ROAD IN AN AGGREGATE PRINCIPLE AMOUNT NOT TO EXCEED 60 MILLION,
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AUTHORIZING THE FILING OF AN APPLICATION FOR AN ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD, AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT.I'LL, I'LL JUST GO THROUGH THIS ONE QUICKLY.
UM, WE'RE VOTING TO INDUCE FOR $60 MILLION NOT TO EXCEED $60 MILLION.
SO THIS IS LOCATED AT THE NORTHEAST CORNER OF HIGHWAY 1 75 AND WOODY ROAD.
IT IS 264 UNITS AND THEY'RE ANTICIPATING 238 OF THOSE UNITS WILL BE, UH, RESTRICTED TO 60% A M I.
TOTAL DEVELOPMENT COSTS WILL BE BE AROUND 73 MILLION.
UM, AGAIN, THESE ARE ESTIMATES, BUT THE APPLICANT IS L D G, SO WE'RE FAMILIAR WITH THE DEVELOPER AND THE PRODUCT THAT THEY PRODUCE, VERY HIGH QUALITY.
UM, THEY'LL HAVE ALL THE STANDARD AMENITIES, THE CLUBHOUSE, POOL, OFFICE, THEATER ROOM, UM, AND SO ON.
THERE WAS A, UH, CONCERN RAISE ABOUT THE SIDEWALKS, OR LACK THEREOF.
UM, LDG IS WORKING WITH PUBLIC WORKS TO DEVELOP A PLAN FOR THE SIDEWALK TO CONNECT TO THE, UH, SCHOOLS THAT ARE JUST NORTH OF THE SITE, I BELIEVE.
UM, THEY'RE ALSO WORKING WITH THE PARKS AND RECREATION BOARD ON THE WESTERN EDGE OF THE SITE.
THERE'S 9.7 ACRES THAT THEY ARE PLANNING TO DEDICATE AS PARKLAND.
UM, AGAIN, UH, WE HAVE, UH, SEEN THIS SITE, SO HOPEFULLY WE'RE, WE'RE FAMILIAR WITH IT.
UM, THERE IS SOME ADDITIONAL, UH, MATERIALS BROUGHT BY JAKE BROWN, BUT, UH, I THINK YOU GUYS ARE FREE TO ASK QUESTIONS.
JAKE IS HERE, UM, IF YOU WANT TO ASK HIM ANYTHING SPECIFIC.
I REMEMBER THIS FROM A PREVIOUS MEETING.
UM, THERE WERE SOME CONCERNS ABOUT THE, UH, PUBLIC TRANSPORTATION, WHICH YOU DID NOT MENTION JUST NOW.
UH, AND I DON'T KNOW IF, IF THAT HAS BEEN, UH, REVIEWED OR LOOKED AT OR PLANNED FOR, UH, BUT THE PUBLIC TRANSPORTATION WAS AN ISSUE THE LAST MEETING.
OH, WE HAVE THE DEVELOPER HERE.
HE'S, HE'LL COME UP AND, UM, ENTER SOME QUESTIONS.
CAN YOU GUYS HEAR ME NOW? UH, IN REGARDS TO PUBLIC TRANSPORTATION, YOU'RE CORRECT.
THERE'S NO, THERE'S NO PUBLIC TRANSPORTATION, AT LEAST IN A TRADITIONAL FORM AS FAR AS LIKE A, A DART BUS SERVICE OR A LIGHT RAIL LINE TO THE SITE.
UM, THERE IS, UM, DART HAS LIKE AN UBER TYPE SERVICE THAT DOES REACH THE SITE.
UM, KIND OF WHAT AARON MENTIONED A MOMENT AGO, AS FAR AS THE WALKABILITY WITH THE SIDEWALK, SINCE WE DON'T HAVE THE TRADITIONAL FORM OF PUBLIC TRANSPORTATION, WHICH IS OBVIOUSLY SOMETHING WE WISH WE HAD, THAT'S ONE OF THE MAIN REASONS WHY WE'VE BEEN WORKING WITH, UH, THE TRANSPORTATION DEPARTMENT AND PUBLIC WORKS TO IMPLEMENT THAT SIDEWALK ALONG WOODY ROAD.
UM, AARON ALSO MENTIONED THE, THE HIGH SCHOOL AND THE MIDDLE SCHOOL TO THE NORTH OF THERE, JUST TO BE ABLE TO PROMOTE THAT WALKABILITY JUST IN THE ABSENCE OF TRADITIONAL FORMS OF TRA PUBLIC TRANSPORTATION.
UM, THAT, THAT'S ONE OF THE MAIN WAYS THAT WE'RE TRYING TO COMBAT THAT.
BUT AS FAR AS THE TRADITIONAL FORM OF LIGHT RAIL OR BUS, WE DON'T HAVE THAT HERE, UNFORTUNATELY.
YEAH, AND JUST TO ADD ON TOP OF THAT, THAT IT'S THE DART GO LINK SERVICE, UM, IN THE CLEAVER AREA THAT WILL PROVIDE, UH, TRANSPORTATION DIRECTLY TO THE NEAREST DART RAIL STATION AND ALSO OTHER AREAS, UM, PER THEIR SERVICE.
SO THAT IT'S A, IT'S IT'S DART SOLUTION TO NOT HAVING BUS SERVICE TO THE FAR SOUTHEAST, UH, PORTION OF OUR, OUR CITY.
BUT THEY DO HAVE, UH, A PUBLIC TRANSPORTATION OPT OPTION THAT THEY HAVE PROVIDED FOR THAT AREA.
HOW FAR SO THAT, THAT'S THE FINAL SOLUTION, IS THE GO LINK BUS, IS THAT, THAT'S THE FINAL SOLUTION.
THAT'S, THAT'S DART SOLUTION FOR THIS AREA OF THIS, OF, OF THE CITY.
UH, AND I'LL ALSO ADD THAT WE'VE, WE'VE HAD CONVERSATIONS WITH DART AND THEY'RE ONGOING TO TRY TO GET TO A BUS SERVICE EXTENDED OUT THERE.
TO BE TRUTHFULLY HONEST, THEY HAVEN'T BEEN THE MOST POSITIVE CONVERSATIONS AS, AS FAR AS EXTENDING THAT BUS SERVICE OUT THERE.
UM, BUT, BUT DO KNOW THAT WE HAVE ATTEMPTED AND CONTINUED TO ATTEMPT TO GET, UH, TRADITIONAL MORE TRADITIONAL FORMS OF PUBLIC TRANSPORTATION OUT THERE.
I THINK THIS WAS ONE OF THE MAIN ISSUES THAT I CAN RECALL CORRECTLY ALSO, BECAUSE THE, THERE WERE ISSUES WITH ACCESS TO THE GROCERY STORES, ACCESS TO, UM, HOSPITALS, HEALTHCARE, UM, ACCESS TO, UM, BASIC NECESSITIES ESSENTIALS.
SO EVEN WITH THE GO LINK BUS, DOES IT JUST STOP INTO THE APARTMENT COMPLEX AND THEN TAKE THEM TO THE TRANSIT? CUZ I THOUGHT THE U N T DALLAS TRAIN SLASH TRANSIT WAS THE ONLY, WAS THE NEAREST ONE.
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MY UNDERSTANDING IS WITH THE GO LINK, UM, YOU CALL BASICALLY A RIDE SHARE TO COME GET YOU THROUGH THE DART.UM, THROUGH DART THEY COME DIRECTLY TO YOUR DOOR TO PICK YOU UP AND THEN TAKE YOU TO WHATEVER YOUR DESTINATION IS.
IT'S NOT, UH, IT'S NOT SOMETHING WHERE THEY COME AND GET YOU AND THEN TAKE YOU TO A BUS STOP OR TO A LIGHT RAIL, AND THEN IT TAKES YOU FROM THERE.
IT'S, IT'S KIND OF, IT'S LIKE UBER OR LYFT, LIKE A RIDE SHARE PROGRAM.
AND, AND I KNOW THAT WE'RE, WE'RE DISCUSSING AND, AND, AND TALKING ABOUT A, A PREVIOUS PROPOSAL FOR THIS SITE, SOME OF THE CONCERNS WERE THE DENSITY ON THE SITE.
THIS HAS BEEN REDUCED FROM, UH, I, WHAT IS THE CURRENT UNIT DENSITY THERE? IT'S 264 UNITS.
I THINK IT WAS, UH, I DON'T HAVE THE, THE ACTUAL NUMBER OFF THE TOP OF MY HEAD, BUT THEY HAVE, THEY HAVE ADDRESSED THAT.
THEY'VE ALSO ADDRESSED THE WALKABILITY IN THE AREA.
THERE'S JUST NO SIDEWALKS DOWN THERE FROM WOODY, FROM THIS SITE DOWN TO WOODY ROAD, PAST A WHOLE BUNCH OF SINGLE FAMILY DEVELOPMENT.
SO, UH, AS WE'RE GOING ALONG, OBVIOUSLY THIS DOESN'T BIND US INTO DOING THE PROJECT.
THIS ISN'T COMMITTING US TO ANY SORT OF PARTNERSHIP, BUT THIS DOES PROVIDE US WITH AN OPPORTUNITY TO HAVE A DEVELOPER THAT'S WILLING TO INSTALL, YOU KNOW, BASIC INFRASTRUCTURE FOR THE AREA.
AND THERE'S ALSO, THERE IS A, THERE IS A FULL SERVICE GROCERY, UH, LESS THAN A MILE AWAY FROM THIS.
UM, IT'S NOT, IT'S NOT A, A NAME BRAND, UH, GROCERY STORE.
HOWEVER, HAVING STOPPED IN THERE, UH, I WOULD BE MORE THAN HAPPY TO BUY, UH, MEAT AND FRESH PRODUCE PRODUCE FROM THIS, FROM THIS STORE.
SO, UM, IT'S NOT THAT THERE'S NO SERVICES, THERE'S PLENTY OF SERVICES PROVIDED BY THE CITY OF SEAGOVILLE JUST GIVEN THE NATURE OF WHERE THIS PROJECT IS IN THE CITY.
SO, UM, I, I, I THINK L D D HAS, HAS HEARD BOARD COMMENTS ABOUT THE PREVIOUS ITERATION OF THIS SITE AND HAS TAKEN THAT INTO HEART AND HAS COMMITTED TO WORKING WITH US.
IT'S NOT A FINISHED PRODUCT YET.
UM, THIS JUST GIVES US THE OPPORTUNITY TO BE ABLE TO MOVE FORWARD IN CRAFTING A PROPOSAL THAT SERVES THE NEED OF THE BOARD AND THE, THE RESIDENTS OF DALLAS.
UM, YEAH, I'D LIKE TO MAKE A COMMENT ABOUT THIS.
I WAS, UM, I'VE HAD A LOT OF CONCERNS ABOUT THIS SITE IN THE PAST, AND I THINK THAT THE DIRECTION THIS IS HEADING NOW IS A POSITIVE DIRECTION.
UH, THE CONCERNS I HAD LAST TIME, ONE OF THEM WAS THE ACCESS IN MY CONS CONCERN ABOUT RESIDENTS BEING ISOLATED FROM THE, THEIR NEIGHBORS AND FROM THE, UH, FROM SEAGOVILLE HIGH SCHOOL AND SEAGOVILLE MIDDLE SCHOOL.
WHAT I UNDERSTAND NOW IS THAT L D G IS WORKING WITH THE, UH, DEPARTMENT OF PUBLIC WORKS TO, UM, EXTEND A SIDEWALK FROM THIS PROJECT DIRECTLY TO SEAGOVILLE HIGH SCHOOL AND MIDDLE SCHOOL.
WHAT THAT WOULD DO WOULD GIVE THE RESIDENTS HERE THE ABILITY TO, AND, AND THE, THE KIDS, THE ABILITY TO, TO WALK BACK AND FORTH TO SCHOOL AND TO WALK, HAVE A SAFE PATH TO THE ADJACENT NEIGHBORHOOD.
SO THAT IS, I THINK, A VERY POSITIVE DIRECTION.
I'M ASSUMING THEY CAN PULL THAT OFF.
THE SECOND THING, WHICH THEY'RE, I HAD A CONCERN ABOUT WAS THAT THE, UH, DENSITY OF THE SITE AND THE LACK OF, UH, UH, RECREATIONAL AMENITIES, NOT JUST FOR THIS PROJECT, BUT FOR THIS ENTIRE SECTION, THE CITY OF DALLAS.
AND I ALSO UNDERSTAND L D G IS WORKING WITH THE PARKS, UH, AND RECREATION DEPARTMENT TO, UM, AND WILLING TO DONATE NEARLY 10 ACRES OF WHAT LOOKS LIKE WOULD BE A VERY ATTRACTIVE PARK, UM, ON, ON A PORTION OF THEIR SITE, UM, ADJACENT TO THE CREEK, WHICH I THINK WOULD BE FANTASTIC.
NOT ONLY FOR THE RESIDENTS, BUT FOR THIS ENTIRE AREA OF DALLAS.
UH, AND FINALLY, MY CONCERN HAS BEEN ABOUT THE LACK OF ACCESS TO, UH, COMMERCIAL RETAIL.
AND L D GINA'S CASE, I BELIEVE IS NOW HAS CREATED AN OUT PARCEL.
AND TO THE EXTENT THEY CAN BRING IN A, ATTRACT A, UM, RETAILER, WHICH I THINK THEY COULD PROVIDE CONVENIENCE RETAIL, THAT WOULD GIVE THE RESIDENTS THE ABILITY TO JUST WALK TO THE CORNER STORE AND, AND, UH, TO GET THINGS LIKE, YOU KNOW, BREAD AND MILK AND EGGS AND THE KIND OF STUFF YOU NEED JUST TO, YOU KNOW, THE, THE DAILY KIND OF SHOPPING ERRANDS AND AVOID HAVING TO, TO, UH, UM, YOU KNOW, DRIVE BACK AND AND FORTH.
UM, THE, THE GO LINK, UH, I THINK IT, IT TAKES YOU TO THE NEAREST RAIL STATION.
AND ALSO, AS I UNDERSTAND THIS HAS CHANGED RECENTLY, WE'LL TAKE RESIDENCE ANYWHERE WITHIN THE CLEAVER RILEY, UM, GOLINK DISTRICT.
AND SO THERE ARE, UM, SEVERAL, UH, SUPERMARKETS, UM, AND, UM, HOUSES OF WORSHIP ET UH, ET CETERA WITHIN THERE.
BUT I DON'T THINK THE SITE'S PERFECT.
I THINK IT'S MADE A REAL LOT OF POSITIVE CHANGES, UM, THAT COULD BE NOT ONLY GOOD FOR THIS PROJECT, BUT FOR THIS AREA OF DALLAS.
SO I'M LEANING TOWARDS SUPPORTING IT, UM, PROVIDED THEY CAN PULL THESE, THESE, UH, THINGS OFF.
AND I, I COMMEND THEM FOR THEIR WORK ON THIS, CUZ IT'S NOT AN EASY SITE.
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UH, DIRECTOR LEWIS.UH, ONE, UM, IN REGARDS TO THE, THE INSURANCE, THE BONDS, I KNOW, UM, FROM THE LAST CONFERENCE I ATTENDED, YOU KNOW, WE WERE ALWAYS TRYING TO LOOK AT THE CAP AND NOT TO SEE, I GUESS IT WAS LIKE 55%.
I GUESS BASED ON WHERE WE CURRENTLY ARE AND OBVIOUSLY POTENTIAL FUTURE DEALS, YOU KNOW, WHERE WHERE DOES, YOU KNOW, THE, UM, HFC STAND IN THAT REGARDS? UM, DO WE HAVE ANYONE FROM HILLTOP TO ANSWER THAT OR DO YOU WANT ME TO TAKE A STAB AT IT? UM, I GUESS, UH, JAKE, I'M ASSUMING THIS IS IN ORDER TO ENTER THE 2023 LOTTERY, CORRECT? THAT'S CORRECT.
SO WE WE'RE STARTING WITH A FRESH PROGRAM YEAR.
UM, SO WE AS A DALLAS H FFC DON'T REALLY HAVE A CAP RIGHT NOW.
WHAT, WHAT EVERYONE'S TRYING TO DO ON THIS MEETING, AND ANYONE, PLEASE CORRECT ME IF I'M WRONG, IS HAVE THEIR PROJECTS INDUCED TO BE ENTERED INTO THIS LOTTERY FOR A PORTION OF THAT VOLUME CAP.
I BELIEVE 60 MIL IS THE NEW KIND OF CEILING.
UM, DO Y'ALL ANTICIPATE TO USE ALL 60 MIL OF THOSE BONDS, OR IS THAT JUST KIND OF THE SAFE AMOUNT Y'ALL REQUESTED? IT'S A SAFE AMOUNT.
I, I WOULD LET GEORGE RODRIGUEZ, IF HE'S ON ANSWER THAT, AND, BUT WE, HE AND I HAD TALKED ABOUT IT, UH, PROBABLY FOUR OR FIVE WEEKS AGO IS, IS JUST KIND OF BEING A SAFE AMOUNT.
UH, GEORGE, ARE YOU ON, SORRY, I'M TRYING TO
WE'VE PROVIDED A NUMBER THAT IS HIGH ENOUGH, SO AS THE STATE, AS THE MAXIMUM NUMBER IS ADJUSTED AND YOU DON'T KNOW WHAT THAT NUMBER WILL BE IN ADVANCE, IT'S BASED ON A PERCENTAGE OF THE STATE'S CEILING.
AND WE WON'T KNOW THAT UNTIL ACTUALLY AFTER THE LOTTERY OCCURS.
SO WE, BUT THE, THE BOND REVIEW BOARD WILL AUTOMATICALLY ADJUST THE APPLICATION TO WHATEVER THE MAXIMUM AMOUNT IS.
SO WE'VE JUST PUT IN A NUMBER THAT WOULD GET US TO WHATEVER THAT MAXIMUM AMOUNT IS, WHICH ACTUALLY PROBABLY WILL BE CLOSER TO 55 THAN 60.
BUT AGAIN, UM, WE'RE JUST GIVING OURSELVES PLENTY OF CUSHION SO THAT WE CAN GET THE MAXIMUM AMOUNT AVAILABLE.
UM, MY SECOND QUESTION IS, IS, UM, I I DEFINITELY APPRECIATE LGG FOR MAKING THESE ACCOMMODATIONS.
UM, YOU KNOW, I, UH, I GUESS MY QUESTION FOR STAFF IS, YOU KNOW, BASED ON THAT FIVE TO TWO MILE RADIUS, YOU KNOW, HOW MANY LI LOCK TECH LITECH DEALS ARE CURRENTLY? I KNOW WE HAVE ONE ANOTHER L G G PROJECT THAT WAS RECENTLY APPROVED AND WE MIGHT POTENTIALLY HAVE THIS ONE.
SO WITHIN THAT KIND OF RADIUS, FIVE TO 10 MILES.
ARE THERE ANY OTHERS? YEAH, YOU'RE, YOU'RE RIGHT ABOUT THIS ONE.
THE METAL BOOK PROJECT, I BELIEVE IS, IS FAIRLY CLOSE.
SORRY, I I DIDN'T, WAS SOMEONE TRYING TO SAY SOMETHING ELSE? OKAY.
YEAH, THE METAL BOOK PRO PROJECT IS, IS FAIRLY CLOSE.
UM, BUT I THINK OUR KIND OF REBUTTAL TO THAT IS THAT THIS, THIS AREA HASN'T REALLY SEEN A LOT OF NEW ANYTHING, UM, OTHER THAN THAT PROJECT.
SO IT'S, IT'S STILL VERY MUCH KIND OF A GROWTH AREA.
UM, YOU HAVE A LOT OF NEW INDUSTRY THAT'S, THAT'S HAPPENING IN SOUTH DALLAS.
UM, THERE'S GONNA BE A NEED FOR HOUSING FOR ALL OF THOSE WORKERS.
AND SO, UM, WE'RE LIKE EVERYWHERE ELSE IN THE CITY, IT'S JUST EXPANDING OUTWARD.
UM, THAT'S KIND OF A MAIN REASON WHY THERE'S NO DART SERVICE OUT THERE YET.
IT'S JUST KIND OF A NEWER AREA, WELL, NOT NEW, BUT, BUT YET TO BE, UM, COMPLETELY FLESHED OUT WITH DEVELOPMENT.
AND SO, UM, IT'S NICE TO GET IN HERE EARLIER RATHER THAN, THAN LATER WHERE, WHERE LAND BECOMES PROHIBITIVELY EXPENSIVE.
UM, YEAH, AND ALL OF THE, THE, THE IS OBVIOUSLY THE, THE MEADOWBROOK APARTMENTS THAT WE PREVIOUSLY APPROVED AS A BOARD IN THE AREA, BUT THE REST OF THE, THE, I WOULD SAY LITECH THAT'S ACTUALLY ADJACENT TO THIS PROPERTY IS ALL IN FALLS SPRINGS.
SO, UH, IT'S NOT ACTUALLY A CITY OF DALLAS AND WE REALLY HAVE NO CONTROL OVER WHAT THEY'RE DOING AS A CITY.
SO, UM, IT'S, IT, THERE'S CERTAINLY NOT A CONCENTRATION, UM, OF, OF ANY SORT OF LITECH IN THE AREA.
SO, UM, THAT'S, THAT'S THIS PROJECT.
AND THEN, UH, JUST MY LAST COMMENT THEN I'LL HAND IT OVER.
UM, SO FROM MY PREVIOUS EXPERIENCE, YOU KNOW, BEEN ON THE ZONING COMMISSION FOUR, DISTRICT EIGHT, I DID SPEND A LOT OF TIME IN THAT CLEAVER RALEIGH AREA THAT WE'RE REFERENCING HERE.
SO I JUST WANNA MAKE SURE AS A BOARD WE'RE CONSTANT FOR FUTURE DECISION MAKING THAT, YOU KNOW, THERE ARE TWO LAND USE STUDY PRO, UM, POT PLANS THAT WE'LL PUT IN PLACE BY THE NEIGHBOR, UH, IN CONJUNCTION
[00:50:01]
WITH THE CITY AND THE COMMUNITY TO KEEP IT MORE RURAL.SO I DO, I DO THINK THIS, I WILL SUPPORT THIS ONE, BUT I JUST WANNA MAKE SURE THAT WE'RE COGNIZANT GOING FORWARD THAT WE DON'T OVERLOAD THIS NEW FOUND AREA.
UM, CUZ BASED ON, YOU KNOW, SOUTHERN DALLAS IS ONE OF THE LAST DISTRICTS WITH A LOT OF AVAILABILITY LAND, SO THOSE THINGS ARE IN PLACE TO KIND OF KEEP IT RURAL.
UM, BUT, YOU KNOW, WE DO WANT TO HAVE, YOU KNOW, DIFFERENT TYPES OF DEVELOPMENT IN THAT AREA DUE TO, YOU KNOW, UH, NEW APARTMENTS IN SINGLE FAMILY HOMES.
SO I JUST WANNA KEEP THAT IN, PUT THAT OUT THERE AS A COMMENT, YOU KNOW, FOR FUTURE DECISION MAKING AND FOR THE OTHER DIRECTORS TO BE COGNIZANT ON.
UM, I BELIEVE, UH, DIRECTOR LIGHT BURN TYPED A QUESTION IN.
I DO NOT KNOW THE ANSWER TO THAT.
KYLE, DO YOU REMEMBER THE NAME OF THE, THE GROCERY STORE? IT'S CALLED MITOS.
IT'S AT THE CORNER OF SOUTH BELTLINE ROAD AND S EAGLEVILLE ROAD.
OKAY, SO WE'RE, WE'RE JUST ABOUT OVER 15 MINUTES.
UM, AGAIN, I DON'T WANNA SHUT DOWN CONVERSATION, UM, IF THE BOARD HA HAS QUESTIONS.
UM, BUT THAT BEING SAID, DOES ANYONE ELSE HAVE ANY, UH, QUESTIONS FOR JAKE OR STAFF ON THIS ITEM? THIS IS DIRECTOR ELLIS.
JUST GONNA HAVE ONE QUICK COMMENT.
I THINK, YOU KNOW, WHEN WE HAVE A SITE THAT'S ACTUALLY ZONED MULTIFAMILY, UH, LOOK IN LOCATIONS LIKE THIS, THAT IT IS HIGH GROWTH IN SEVILLE.
THAT'S KINDA MY UNDERSTANDING.
THERE ARE A LOT OF EMPLOYERS, SOUTH 6 35 LOGISTICS CENTERS.
UH, IT'S A GOOD JOB STORY, BUT THE RENTS AREN'T THERE, UH, TO JUSTIFY MARKET RATE DEVELOPMENT AND LATEX, THEY ONLY ANSWER.
SO WITH A LOT OF THESE SITES THAT ARE DESIGNATED BY THE CITY AS, HEY, THIS IS WHERE THE CITY PLANNING OR ZONING COMMISSION, I SAID, THIS IS WHERE WE WANT MULTIFAMILY.
AND THE ONLY ANSWER ARE THESE TYPE OF PROJECTS.
UH, I THINK WE SHOULD VOTE YES, AND I THINK IT'S GONNA SOLVE A GREAT NEED IN THE MARKETPLACE.
LIGHT BURN, UM, SAYING THAT BRAD, UM, HAD HIS HAND UP.
UH, I, I JUST CAN'T SEE IT RIGHT HERE, BRAD.
UH, DO YOU WANNA SPEAK? YEAH, JUST BRIEFLY.
UM, BECAUSE I THINK I VOTED AGAINST THIS PROJECT WHEN IT WAS, UH, PROPOSED BY A PRIOR APPLICANT AT THIS SITE, UM, FOR A LOT OF THE REASONS DIRECTOR PAGE OUTLINED, SECRETARY PAGE OUTLINED, UH, I, I'M SUPPORTIVE OF THIS PROJECT AND ITS CURRENT ITERATION.
UM, FIRST AND FOREMOST, I'M, I'M PLEASED TO SEE THAT L D G HAS WORKED TO ADDRESS SOME OF THE ACCESSIBILITY CONCERNS THAT ARE WITHIN THEIR CONTROL.
CAN'T, CAN'T MAKE DART START A BUS LINE, BUT BUILDING A SIDEWALK I THINK IS A HUGE PLUS.
UM, I THINK THAT HELPS TO BRIDGE SOME OF THE, THE PROXIMITY GAP TO THE HIGH SCHOOL AND THE ELEMENTARY SCHOOL AND THE ELEMENTARY SCHOOL.
UH, UH, THE OTHER THING, THE OTHER THING I WOULD JUST NOTICED, ISGS BEEN A GOOD PARTNER ON SOME OTHER COMPLICATED PROJECTS THAT WE'VE DONE.
UM, AND SO I HAVE A, AND SO I, CONFIDENCE, CONFIDENCE THAT'LL BE SOME OF THE OTHER ISSUES DISCUSSED, UM, AT THIS SITE.
UM, AND SO I'M SUPPORTING IT IN PART BECAUSE IT'S L D G DOING IT, AND I THINK THEY CAN, THEY CAN SORT THIS THROUGH.
UH, I'VE TALKED BEFORE ABOUT MAKING SURE THAT WE'RE BUILDING PROJECTS THAT WE'RE PROUD OF AND THAT AESTHETICALLY OR SEEN AS CON CONTRIBUTORS TO NEIGHBORHOODS SO THAT WE'RE NOT SEEN AS A NUISANCE COMING IN.
UH, I THINK B MAYBE YOU'VE GOT, YOU'VE GOT YOUR MIC ON.
COULD EVERYONE PLEASE MUTE? YEAH, COULD, IF YOU'RE NOT TALKING EVERYONE MUTE IF YOU'RE NOT TALKING.
SO IT LOOKED TO ME LIKE THE, THE RENDERINGS WE GOT FOR THIS PROJECT AND THE NEXT LDG PROJECT AND THE PACKET WERE THE SAME RENDERINGS.
AND IT MAY BE THAT THEY'RE, WE'RE GONNA BUILD IDENTICAL PRODUCTS.
UM, I'D ASK LDG TO CLARIFY THAT, BUT IN, IN ANY RESPECT, CAN WE PICK AN EXTERIOR FINISH AND NOT DO THE, UM, THE THREE-TIERED, UH, THING THAT HAS BEEN POPULAR FOR A NUMBER OF YEARS IN DALLAS.
AND THAT I THINK LIMITS THE, THE AESTHETIC USEFUL LIFE OF, UM, A PROJECT.
UH, AND JUST, IT, IT SORT OF CONTRIBUTES TO THE RAPID VISUAL AGING OF THE PRODUCT.
AND I THINK IN 10 YEARS IT INCREASES THE RISK THAT OUR PROJECTS ARE SEEN AS TO DETRACTING FROM A NEIGHBORHOOD, UM, AS OPPOSED TO SORT OF FITTING IN AND BEING A PLACE THAT OUR RESIDENTS ARE PROUD TO LIVE.
AND I'LL, I'LL TELL YOU THAT THAT'S JUST KIND OF A GENERIC RENDERING THAT WILL BE VASTLY IMPROVED.
AND SO ALL THE THINGS YOU'RE SAYING, I HEAR YOU, AND IT WILL, UH, HOPEFULLY WE WILL COME BACK IN THE FUTURE AND WE'RE CLOSING THE PROJECT.
YOU'LL, YOU'LL HAVE A MUCH BETTER ITERATION OF, OF WHAT THE FINAL PRODUCT'S GONNA LOOK LIKE.
UM, I'M NOT SEEING ANYONE WITH THEIR HAND RAISED.
UM, DOES ANYONE HERE TO MAKE ANY, UH, COMMENTS OR ANY MORE QUESTIONS?
[00:55:01]
I HAVE A COMMENT.IT'S, UM, ABOUT THE ECOLOGICAL PRESERVATION.
I'M REALLY PROUD OF L D G FOR REALLY STEPPING UP TO THE PLATE AND EARMARKING A CONSIDERABLE AMOUNT OF ACREAGE TO PARK IN GREEN SPACE AND KIND OF REALLY HELPING KEEP THE NEIGHBORHOOD FEEL REALLY HOMEY AND LIKE A NEIGHBORHOOD.
I THINK THAT'S REALLY IMPORTANT, ESPECIALLY WHEN YOU'RE TALKING ABOUT A LITECH DEAL BECAUSE I KNOW PEOPLE SOMETIMES TEND TO TREAT THESE PROJECT AS NIMBY BUILDINGS, AND I THINK THIS GOES A LONG WAY TO SHOWING THAT L D G REALLY CARES ABOUT THE NEIGHBORHOOD AND THE RECREATIONAL SPACE OF THE STUDENTS AND THE FAMILIES IN THE AREA.
UM, ANY OTHER COMMENTS GOING ONCE, TWICE.
UM, DO WE HAVE ANY, UM, MOTIONS ON THE FLOOR? UM, I'LL MOVE TO, UM, TO APPROVE THIS, UH, THIS AGENDA ITEM.
DO WE HAVE A SECOND? I SECOND THAT.
SO ALL IN FAVOR OF APPROVING THE ITEM.
I'M GONNA VOTE NO, ALSO THIS IS B MARTINEZ.
UM, IS EVERYBODY COMFORTABLE WITH THE, THE VERBAL OR DO WE NEED YOU TO ROLL CALL? I JUST TO CLARIFY THE TWO NAYS WERE DIRECTOR LBO AND, UH, TREASURER GARCIA OR MARTINEZ, SORRY.
THAT'S WHAT I HAVE, SO WE SHOULD OKAY.
IT SOUNDS LIKE THIS ONE IS GOOD TO GO.
AND, UM, SEEING NOTHING ELSE, WE'LL MOVE ON TO ITEM NUMBER SEVEN, CONSIDERATION AND POSSIBLE ADOPTION OF A RESOLUTION DECLARING INTENT TO ISSUE BONDS FOR A LOAN TO L D G, THE TERRACE AT HIGHLAND HILLS LP TO PROVIDE FINANCING FOR A MULTIFAMILY RESIDENTIAL RENTAL DEVELOPMENT FOR PERSONS OF LOW AND MODERATE INCOME.
THE TERRACE AT HIGHLAND HILLS LOCATED AT 3,100 PER SIMMON ROAD IN AN AGGREGATE PRINCIPLE AMOUNT NOT TO EXCEED 60 MILLION, AUTHORIZING THE FILING OF AN APPLICATION FOR AN ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD AND CONTAINING OTHER PROVISIONS RELATED TO THE SUBJECT.
AGAIN, WE HAVE AN APPLICATION FROM L D G HERE.
THIS WILL BE A 300 UNIT DEVELOPMENT WHERE 270 UNITS WILL BE AT 60% A M I, THE REMAINING 30 UNITS WILL BE AT MARKET RATE.
THE TOTAL DEVELOPMENT COSTS 78 MILLION.
UM, AGAIN, SIMILAR AMENITIES WITH THE CLUBHOUSE, POOL AND WHATNOT.
UM, THEY WILL BE PROVIDING RESIDENT SERVICES, UM, ADULT EDUCATION CLASSES, FOOD PANTRY, UM, ALL OF THOSE THINGS THAT, UH, WE REQUIRE AS PART OF THIS APPLICATION.
UM, IT IS TO BE NOTED THAT AN EXISTING LITECH NEAR PROPERTY IS AGING, UM, AND WILL EXIT THE PROGRAM IN FIVE TO SEVEN YEARS.
UM, AGAIN, LET'S, LET'S, UH, GET RIGHT INTO THE, UH, DISCUSSION.
UM, AS I THINK YOU'RE AWARE OF THIS SITE HERE, UM, ANYBODY WANNA START ASKING QUESTIONS FOR THE DEVELOPER OR ANY COMMENTS ANYONE WANTS TO MAKE? I HAVE A QUESTION.
AS FAR AS THE ELDERLY AND DISABLED RESIDENTS, CAN L D G GIVE US AN IDEA OF ABOUT WHAT PERCENTAGE OF THE TOTAL RESIDENTS THEY THINK THAT WILL BE AS, AS FAR AS TOTAL RESIDENTS? I, I HATE TO SPECULATE ON SOMETHING LIKE THAT.
I, I CAN TELL YOU JUST, OF COURSE, I SAID I HATE TO SPECULATE.
UM, BUT GENERALLY IT'S A PRETTY SMALL PERCENTAGE.
I BELIEVE WE SET ASIDE 5% OF THE TOTAL UNITS, UM, FOR DISABLED RESIDENTS AT OUR PROPERTIES, EACH OF THE PROPERTIES, WHICH IS, UH, I BELIEVE IT'S MANDATED BY THE TAX CREDIT PROGRAM.
SO, UM, I DON'T KNOW THE EXACT NUMBER OF, OF WHAT THAT WOULD LOOK LIKE IS HOW MANY, BUT ABOUT 5% OF THE UNITS WILL BE SET ASIDE FOR IT.
AND, UH, JUST A FOLLOW UP QUESTION ON THAT.
WITH YOUR CURRENT PROPERTIES, DO YOU FIND THAT 5% IS ADEQUATE OR IS THERE A WAIT LIST FROM ELDERLY DISABLED? NO, I HAVE NOT HAD ANY, NO, I HAVE NOT HAD ANY EXPERIENCE WITH A WAIT LIST AS FAR AS ELDERLY OR DISABLED GO.
SO, SO BASED ON THAT, I WOULD SAY THAT WHAT WE'VE GOT AT EXISTING PROPERTIES IS ADEQUATE.
[01:00:02]
UH, IS THIS THE PROJECT MENTIONED SOME TIME AGO? UH, FOR THE, UH, ELDERLY? NO, THIS, THIS WOULD NOT BE RESTRICTED, IT WOULD NOT BE AGE RESTRICTED AT ALL.IT, IT WOULD BE FOR INDIVIDUALS AND OR FOR ANYBODY.
UH, SO IT'S, IT'S NOT SET ASIDE FOR THE ELDERLY? NO.
CAUSE I, IT WAS MENTIONED IN ONE OF THE DISTRICT'S MEETING THAT THERE WOULD BE A PROJECT FOR THE ELDERLY COMING IN THIS AREA.
OH, NO, THAT'S, NO, THAT'S NOT THIS ONE.
LIOR, THE L TECH THAT YOU MENTIONED, IS THAT THE ONLY ONE IN, AND I DON'T REMEMBER THE POLICY ON THE RADIUS, UM, BUT IS THIS ISN'T THE ONLY ONE IN THAT AREA, CORRECT? YOU'RE CORRECT.
THIS ISN'T THE ONLY LITECH PROPERTY THERE IS, UH, WE DO HAVE OUR T O D DEVELOPMENT, THE RIDGE LANCASTER, WITH L D G THAT IS JUST OVER A MILE AWAY, I BELIEVE, FROM THIS SITE AT THE CAMP WISDOM DART RAIL STATION.
THEIR FINAL, THEY'LL LOSE ALL OF THEIR AFFORDABILITY AND RESTRICTIONS, I THINK IN 2028, I THINK OFF THE TOP OF MY HEAD.
I'M TRYING TO PULL IT UP HERE, BUT MY COMPUTER'S NOT WORKING.
AND THEN THERE'S SEVERAL OTHERS THAT HAVE ALREADY, THAT ARE TECHNICALLY LITECH, BUT HAVE EXITED THE PROGRAM, THE ONES THAT ARE KIND OF UP NEAR LEDBETTER MM-HMM.
BUT, UM, IT'S, AND THEN THERE IS ALSO A SENIOR, UH, THE MAGNOLIA TRACE APARTMENTS, WHICH ARE ALSO NEAR THE CAMP WISDOM DART RAIL STATION.
THOSE ARE KIND OF RIGHT IN THE MIDDLE OF THEIR COMPLIANCE PERIODS.
SO, UH, IT'S KIND OF A, A WIDE RANGE, BUT THE, THE ONES THAT ARE CLOSEST TO THIS, THIS PROPERTY ARE AGING OUT OF THE PROGRAM.
AND, UH, WE'RE HOPEFUL TO BRING IN, UH, HOPEFULLY TRY TO REHABIL ACQUIRE AND REVITALIZE AND PRESERVE AFFORDABILITY THERE, BUT IT'S REALLY ALL UP TO THE PRI THE PRIVATE PROPERTY OWNERS AS TO WHAT HAPPENS THERE.
SO, UM, THAT'S KIND OF A RUNDOWN OF, OF WHAT'S IN THE AREA.
BECAUSE I KNOW THERE WAS DISCUSSIONS, UM, WITH A LOT OF OUR DISTRICTS IN THE SOUTHERN SECTOR ABOUT THE CONCENTRATION AND THE NUMBER, UM, OF THESE UNITS.
UM, SO I JUST WANTED TO MAKE SURE IT WASN'T JUST THIS ONE THAT WE ADDRESS ALL THE OTHERS, UM, IN THE AREA AS WELL.
YEAH, THE, AND, AND LIKE I SAID THERE, I'M, I, I WILL BE COMPLETELY HONEST, THERE ARE OTHER LITECH DEVELOPMENTS IN THE AREA.
SOME OF, THERE'S, THERE'S ONE THAT WE ACTUALLY CONSIDERED FOR A BOND INDUCEMENT LAST YEAR THAT ULTIMATELY ENDED UP CLOSING WITH DALLAS HOUSING AUTHORITY.
SO THAT WILL, THAT HASN'T CLOSED YET.
SO THAT'LL EVENTUALLY BE, I GUESS, ANOTHER DOT ON THE MAP SHOWING LITECH.
BUT THAT'S A ACQUISITION AND PRESERVATION DEVELOPMENT THAT IS GOING TO RENOVATE WHAT THEY, THOSE APARTMENTS THAT THEY REFERRED TO AS THE PINKS THAT HAD ALL THE ISSUES.
SO THERE'S ACTIVITY IN THE AREA, UH, HOWEVER, UM, YOU KNOW, THIS IS, THIS WILL ADD NEW HOUSING STOCK, UH, THAT WILL HOPEFULLY LOOK AND FEEL BETTER AND PROVIDE, UH, BETTER RESIDENT SERVICES TO, TO, UH, THE FUTURE TENANTS.
UH, THIS IS, UH, DIRECTOR LEWIS.
SO MY QUESTION IS KIND OF PIGGYBACK ON THE CURRENT CONVERSATION OR DISCUSSION.
UM, SO IS IT NOT, YOU KNOW, A NORM WHEN YOU HAVE SEVERAL VITECH DEALS IN THE AREA FOR, UM, THE CITY TO KIND OF WORK WITH THESE CURRENT, YOU KNOW, PROPERTY OWNERS TO EXTEND OR, OR, OR REDEVELOP, YOU KNOW, BECAUSE I THINK IN THIS AREA IT'S KIND OF OVERLY SATURATED.
I MEAN, ALTHOUGH, ALTHOUGH THIS WILL BE A NEW DEVELOPMENT, I THINK WE'RE STILL KIND OF OVERSATURATED WITH MORE AFFORDABLE HOUSING IN THIS AREA RATHER THAN KIND OF MORE RESIDENTIAL, YOU KNOW, OWNER OCCUPIED THAT IS KIND OF
SO, YOU KNOW, KIND OF, KIND OF WORRY OF THAT.
UM, HAS THAT BEEN DISCUSSED? YOU KNOW, IN ADDITION TO WHAT OTHER DISCUSSIONS I, I GUESS TO ANSWER THAT IS WE DID, I MEAN, THIS WAS REVIEWED BY OUR OFFICE OF FAIR HOUSING, AND IT WAS FOUND BASED ON THE SERVICES THAT LDG WERE GONNA, WILL PROVIDE, UH, THE, THE DART, I MEAN, IT HAS ACCESS TO, TO HIGH FREQUENCY BUS, BUT IT ALSO HAS THE INLAND PORT GO LINK, WHICH ACTUALLY CAN PROVIDE DOOR TO DOOR, UH, SERVICE FROM THIS PROPERTY TO PARTICIPATING BUSINESSES IN THE INLAND PORT.
SO THAT PLUS RESIDENT SERVICES, UM, THEY HAVE FOUND THAT AT FIRMLY FURTHER FAIR HOUSING AND THEY TAKE INTO CONSIDERATION
[01:05:01]
THE LITECH IN THE AREA.I THINK THERE'S, THERE'S PROBABLY A LOT OF CONFUSION TOO, BECAUSE SOME OF THE PROPERTIES SUCH AS, YOU KNOW, THE MOUNTAIN CREEK OR WHATEVER, THOSE, THE, THE ADJACENT PROPERTY HAD LITERALLY A GAS EXPLOSION.
AND I MEAN, THAT'S NOT A LITECH DEVELOPMENT.
UH, THIS IS, I MEAN, IT'S, A LOT OF IT IS, YOU KNOW, NATURALLY OCCURRING AFFORDABLE HOUSING THAT WE HAVE ZERO CONTROL OVER, AND THAT'S, THAT, THAT CAN CAUSE A LOT OF PROBLEMS WITH US.
BUT IF WE'RE PARTNERED ON THE PROJECT, WE CAN CONFIRM AND MAKE SURE THAT, YOU KNOW, WE HAVE RESPONSIBLE, UH, PROPERTY MANAGEMENT ON SITE CAN, CAN, YOU KNOW, AFFECT CHANGE IF NECESSARY, IF WE SEE, UH, THINGS GOING, GOING SOUTH.
AND THEN WE ALSO HAVE, YOU KNOW, THERE'S OTHER, THERE'S OTHER PROGRAMS THAT THE CITY HAS, LIKE, WE'RE NOT, WE DO MORE THAN JUST LITECH.
SO THE HOUSING DEPARTMENT HAS, UH, HAS ALLOCATED ARPA FUNDS TO THE FIVE MILE NEIGHBORHOOD TO, TO, TO INSTALL MORE INFRASTRUCTURE, BUILD SINGLE FAMILY HOMES.
UH, THE MAJORITY OF OUR, UH, OF OUR HOME REPAIR AND PRESERVATION PROGRAM, THOSE FUNDS ARE ALLOCATED ALMOST EX, I'M NOT GONNA SAY EXCLUSIVELY, BUT A LOT OF THAT OCCURS IN THE SOUTHERN SECTOR.
SO WHEN WE LOOK AT THIS, WE CAN LOOK AT IT AS JUST ONE, ONE PROJECT, BUT ONE PROJECT DOESN'T FIX EVERYTHING.
UH, IT'S A, A COMBINED EFFORT OF, UH, OF ALL THE TOOLS WE HAVE TO BE ABLE TO PROVIDE AFFORDABLE HOUSING AND ALSO, UM, YOU KNOW, CREATE NEW OPPORTUNITIES FOR RESIDENTS IN AN AREA OF THE CITY THAT, YOU KNOW, HAS SEEN A LACK OF INVESTMENT.
SO WE'RE TRYING TO TARGET THAT AND, AND LOOK AT IT THAT WAY.
SO I GUESS IT'S TO LONG ANSWER.
AND I KNOW WE'RE, WE'RE RUNNING OUT OF TIME HERE, SO, UH, THAT WOULD BE MY RESPONSE.
UM, I WAS WONDERING WHAT THE RATINGS ARE FOR THOSE SCHOOLS, UH, GOING, GOING OFF MEMORY.
I BELIEVE THEY'RE ALL MET STANDARD, BUT, UH, I CAN DOUBLE CHECK AND GET BACK TO YOU ON THAT DIRECTOR OFTEN.
YEAH, BECAUSE, UM, I WANT, YOU KNOW, OVER THE YEARS, WILMER HUTCHINS HAS SOMETIMES HAD PROBLEMS. I DON'T KNOW WHERE IT STANDS RIGHT NOW, BUT, UH, BUT I WOULD, UH, BE INTERESTED TO KNOW HOW THOSE SCHOOLS RANK THAT YOU JUST ASKED THE QUESTION.
AS FAR AS I KNOW, UH, THE WILMAR HUTCHINS SCHOOL, UH, HAS, IT'S NOW JUST WILMER.
UH, HUTCHINS HAS THEIR OWN ELEMENTARY SCHOOL, A BRAND NEW SCHOOL, AND THERE ARE PLANS TO BUILD A MIDDLE SCHOOL IN THE NEAR FUTURE.
THAT IS A LITTLE BIT OF INFORMATION.
SO ARE YOU SAYING, UH, DIRECTOR BANKS, ARE YOU SAYING THAT UH, THERE'S A WILMER HIGH SCHOOL? NO, THERE IS A WILMER, UH, I'M SORRY, NOT WILMER, BUT A HUTCHINS ELEMENTARY SCHOOL.
BUT WHAT'S THE HIGH SCHOOL, DO YOU THINK? UH, THAT'S WILMER.
AND YOU'RE SPEAKING, I'M HOPING THAT I, I HOPE I HAVE THE NAMES RIGHT, BECAUSE I HAVE WORKED AT THE NEWEST, NEWEST SCHOOL THERE AND IT'S VERY NICE.
UH, SO, AND IT'S THE ELEMENTARY, RIGHT? THERE WAS A COMBINATION OF THE HIGH SCHOOL AND ELEMENTARY OF BOTH OF THOSE CITIES.
AND SO THEY ARE NOW, UH, UH, GIVING UP THE RESPONSIBILITY, UH, WITH THE DISTRICT TO HAVE THEIR OWN SCHOOLS IN EACH AREA.
YEAH, PRESIDENT HEALTH, AND THIS IS DIRECTOR LEWIS.
JUST TO ADD ON TO THAT, UM, THERE'S A NEW CHOICE SCHOOL, UH, THE FREDERICK DOUGLASS, UM, UH, ON, ON THE CAMPUS WITH PAUL QUINN.
SO THAT'S A NEW CHOICE SCHOOL RIGHT DOWN THE STREET THERE.
AND, UH, SO AS A CHOICE SCHOOL, I GUESS, YOU KNOW, NOT ALL OF THE TENANTS WOULD BE ABLE TO UTILIZE THAT, BUT YOU'RE SAYING IT WOULD BE AN OPTION? YES.
UM, DIRECTOR LEBERT, I SAW A MESSAGE POP UP, BUT I DIDN'T, I DIDN'T GET A CHANCE TO READ IT.
UH, DID YOU HAVE A COMMENT OR QUESTION? NO PROBLEM.
THEY ASKED ABOUT THE SCHOOL, UH, RATINGS AND I JUST SAID I CAN, I CAN JUST TEXT THE PRINCIPALS, UM, AND THEN SEND THAT OVER.
I HAD, UH, A QUESTION OR A COMMENT ON THIS SIMILAR TO SOME OF THE CONCERNS THAT WERE EXPRESSED ABOUT, UM, THE PREVALENCE OF OTHER LITECH PROJECTS IN THE AREA.
AND I JUST KEEP IN MIND THAT WHEN WE, WHEN WE INDUCE A PROJECT LIKE THIS, WE'RE TYING UP THE SITE FOR A NUMBER OF YEARS, UH, GIVEN THE PROXIMITY TO PAUL QUINN AND SOME OF THE PROJECTS THAT KYLE MENTIONED THAT ARE GETTING CITY AND FEDERAL DOLLARS TO TRY TO, UM, IMPROVE THE QUALITY OF LIFE IN THIS NEIGHBORHOOD.
I THINK WHAT WOULD BE HELPFUL FOR ME TO SEE WOULD BE AN OVERLAY OF THE MAP OF THE AREA THAT SHOWS, UM,
[01:10:01]
HOW LONG SOME OF THE SURROUNDING SITES ARE TIED UP BECAUSE OF, UH, LITECH OR OTHER SIMILAR, UH, LURES.UH, JUST TO UNDERSTAND REALLY WHAT WE'RE DOING TO THE LONG-TERM FUTURE OF THE NEIGHBORHOOD MAY, MAYBE THIS PROJECT FITS WELL WITH SOME OF THESE OTHER EFFORTS THAT ARE UNDERWAY OR, OR MAYBE, UM, WE'RE PULLING OUT A PUZZLE PIECE FOR, UH, 15 PLUS YEARS AND PREVENTING SOME OTHER, UM, USE FROM GOING IN THERE.
I WAS JUST THINKING ABOUT THAT A FEW MINUTES AGO.
IT WOULD BE A GOOD REPORT FOR ALL OF US TO HAVE TO KNOW EXACTLY WHAT WE'RE DOING.
SO I WOULD LIKE TO SEE THAT REPORT MYSELF, DR.
BANKS, WE CAN CERTAINLY PREPARE THAT AND PROVIDE THAT.
UM, I, I WILL SAY THAT THE EVENTUAL USE OF THIS SITE IS GONNA BE MULTI-FAMILY, CUZ IT IS ZONE MULTIFAMILY.
AND I DON'T, I, I AM NOT, I I DON'T RECALL SEEING ANYTHING EVER GET CHANGED FROM MULTIFAMILY TO ANYTHING ELSE.
BUT AS FAR AS LURA IS LOCKING UP LAND, I, I CERTAINLY GET THAT.
AND AS PART OF, YOU KNOW, IF WE BRING THIS BACK FOR A PARTNERSHIP AND ACTUALLY CLOSE ON THE PROPERTY, THEN WE CAN HAVE MORE OF THAT DATA.
BUT RIGHT NOW WE'RE JUST TRYING TO GIVE US THE H FFC AN OPPORTUNITY TO ENTER INTO THE LOTTERY AND, AND SEE IF WE CAN GET AN INDUCEMENT FOR THIS, THIS PROJECT.
SO, UM, THAT CAN BE SOMETHING THAT CAN BE PROVIDED AS WE POTENTIALLY MOVE FORWARD.
I MEAN, JUST TO GET A SENSE FOR WHAT THE BOARD'S FEELING RIGHT NOW.
ARE WE COMFORTABLE INDUCING THE PROJECT RIGHT NOW SO THEY CAN ENTER THE LOTTERY KNOWING THAT WE HAVE OTHER BITES AT THE APPLE TO PUMP THE BRAKES IF WE NEED TO? OR WOULD WE POTENTIALLY BE MORE COMFORTABLE POSTPONING IT TO A, TO, ARE WE GONNA HAVE AN OCTOBER INDUCEMENT MEETING? YES, BUT, UH, OUR BOND COUNCIL PREFERS TO HAVE THEM, UH, APPROVED, UH, AT, AT THIS TIME SO WE CAN HAVE AMPLE TIME TO GET THE APPLICATIONS IN AND NOT, UM, SUBMIT, GET EVERYTHING CREATED PRIOR TO THE, THE MEETING OR WHATEVER.
I HOPE I DON'T SPEAK OUT OF TURN FOR GEORGE.
I WOULDN'T BE IN, IN SUPPORT UNTIL WE HAVE ALL THAT, THE INFORMATION, ESPECIALLY AROUND THE SCHOOLS, AROUND STORES AROUND THE NUMBER OF L TECH ALSO TO MAKE SURE THAT WE'RE NOT VIOLATING, UM, ANY POLICIES, UM, WITH THE NUMBER OF LITECH, REGARDLESS IF THEY'RE EXITING OUT FIVE TO SEVEN YEARS OR 10 TO 15.
JUST SO WE CAN KIND OF SEE, UM, WHAT THAT IS.
CUZ WE DON'T, YOU KNOW, WANT TO HAVE SOMETHING ENTER IT TURNS OUT THAT IT'LL BE A WASTE OF TIME.
MY OPINION, LIKE I SAID, IT HAS, GEORGE RODRIGUEZ FROM, FROM MY PERSPECTIVE, MUCH PREFER TO HAVE SOMETHING APPROVED TODAY AS OPPOSED TO OCTOBER.
BUT, YOU KNOW, IF, IF THE BOARD FEELS LIKE THEY NEED TO GET MORE INFORMATION, UM, IT'S, IT REALLY ENDS UP BECOMING LD G'S RISK BECAUSE THEY HAVE TO PAY US TO PREPARE THE APPLICATION BEFORE THE MEETING HAS EVEN OCCURRED.
I MEAN, I THINK JAKE AND LDG IS, THEY'RE COMFORTABLE WITH THE RISK.
I THINK WE SHOULD INDU, LET'S NOT CRAM, UH, BEFORE THE BIG TEST ON OCTOBER, LET'S JUST MOVE THIS FORWARD.
WE'RE GOING TO HAVE TO APPROVE THE PARTNERSHIP IN OCTOBER.
AT WHICH POINT JAKE KNOWS NOW ALL THE CONCERNS IT NEEDS TO BE LAID OUT.
I'D SAY ADVANCE THE BALL, UH, YOU KNOW, AND GET MOVING.
AND JUST ADD, I WOULD, I WOULD APPROVE IF WE COULD GET THE INFORMATION THAT DR.
LIGHTBAR IS ASKING YOU BETWEEN NOW AND OCTOBER.
JUST LET'S GET JAKE TO COMMIT THAT JAKE.
YEAH, I MEAN I CAN, I CAN GET YOU GUYS WHATEVER INFORMATION THAT YOU NEED.
I, I JUST, UH, YOU KNOW, I THINK FOR US ON OUR SIDE OF IT, IF, IF WE WERE ABLE TO MOVE FORWARD WITH APPROVAL OF THE, JUST THE INDUCEMENT TODAY, UM, YOU KNOW, THERE WILL BE ANOTHER OPPORTUNITY WHEN WE WOULD COME BACK FOR YOU GUYS TO EVEN CONSIDER, UH, APPROVING THE PARTNERSHIP.
AND SO I, I THINK AT THAT POINT I WOULD CERTAINLY HAVE THAT LONG BEFORE THAT TIME.
UM, SO I GUESS WHAT I'M TRYING TO SAY IS IF THE INDUCEMENT WAS APPROVED TODAY, UM, YOU STILL HAVE GOT ANOTHER OPPORTUNITY TO VET IT AND, AND FRANKLY, IF YOU DON'T LIKE WHAT YOU HEAR AT THAT TIME, THEN YOU HAVE THE, THE OPPORTUNITY TO DENY IT AT THAT TIME.
SO I, I THINK ON THE INDUCEMENT SIDE, UM, YOU KNOW, IT, IT'S REALLY JUST KINDA GIVING US A PUNCHER'S CHANCE JUST TO EVEN PARTICIPATE IN THE LOTTERY TODAY.
THAT, THAT'S, THAT'S REALLY ALL I'M AFTER.
BUT I DO, I DO HEAR THE CONCERNS, I DO TAKE 'EM SERIOUSLY.
UM, CERTAINLY WILL GATHER UP ALL OF THAT INFORMATION AND, AND PUT IT TOGETHER AND WORK WITH KYLE AND AARON TO PROVIDE IT TO YOU GUYS.
UM, JAKE QUESTION JUST FOR KIND OF FOR THE BOARD'S COMFORT, WILL THIS DEAL WORK WITHOUT PARTNERING WITH US? UH, NO, IT WON'T.
[01:15:01]
THE OTHER PIECE IS IF, YOU KNOW, I I CAN'T DO THE DEAL UNLESS YOU GUYS ARE, WERE WILLING TO BE PART OF IT.SO IT'S KIND OF THE, THE LAST, UH, YOU GET THE LAST VOTE SO TO SAY, SO TO SPEAK.
AGAIN, UM, FOR THE REST OF THE BOARD, WOULD YOU FEEL COMFORTABLE WITH A PRELIMINARY INDUCEMENT KNOWING THAT WE HAVE MULTIPLE BYTES AT THE APPLE? OR DO YOU NOT FEEL COMFORTABLE MOVING FORWARD AT ALL? I FEEL COMFORTABLE MOVING FORWARD WITH THE PENDING INFORMATION, YES.
UH, AND ALSO JUST FOR EVERYBODY'S, FOR EVERYBODY'S REFERENCE IT, WE HAVE EVERYTHING WE NEED TO HAVE THIS SATISFY THE COMPREHENSIVE HOUSING POLICY BECAUSE THEY NEED TO SUBMIT A COMPLETE APPLICATION, UH, AND ALSO BE FOUND TO AFFIRMATIVELY FURTHER FAIR HOUSING, WHICH OUR OFFICE OF FAIR HOUSING HAS GIVEN THIS DEVELOPMENT, THE BOARD ITSELF.
AS WE REVIEW THIS PROJECT MOVING FORWARD AT A LATER DATE, UH, WHEN WE, WHEN WE ANALYZE THIS AND TAKE A LOOK AT THE PARTNERSHIP AGREEMENT, WHAT'S ACTUALLY GONNA BE DEVELOPED RIGHT NOW WE HAVE, AS YOU SAW AT THIS POINT, DEVELOPERS DON'T HAVE THAT DETAILED OF, UH, RENDERINGS AND, UH, WE DON'T HAVE LIKE, IT'S, WE'RE SO FAR AWAY FROM ACTUALLY CLOSING ON THIS THAT WE HAVE PLENTY OF TIME TO TWEAK THIS AND, AND PROVIDE, YOU KNOW, AMENITIES AND SERVICES THAT WILL BE NEEDED AT THE SITE.
THIS IS JUST GIVING US THE OPPORTUNITY AT A FUTURE DATE TO REVISIT THIS.
I MEAN, JUST LIKE WITH THE STANDARD AT ROYAL LAST YEAR OR A COUPLE OTHER DEALS THAT WE HAVE, THEY COULD GET THE LAST LOTTERY BALL AND WE'RE NOT, WE'RE WE'RE DONE.
WE DON'T EVEN HAVE TO TALK ABOUT THIS EVER AGAIN.
SO, UH, THIS JUST GIVES US THE OPPORTUNITY TO, UH, TO REC TO RECEIVE A POTENTIAL RESERVATION FOR THE PROJECT.
LIKE I SAID, WE'LL HAVE TO BRING THIS BACK TO APPROVE A PRELIMINARY MOU IN PARTNERSHIP AND THEN WE'LL ALSO HAVE TO COME BACK, UH, THROUGH, UH, FOR FINAL APPROVAL OF ALL DOCS IF WE'RE SO LUCKY TO RECEIVE THAT RESERVATION.
UH, IT'LL ALSO HAVE TO GO THROUGH THE HOUSING COMMITTEE AND, UH, THE CITY COUNCIL ITSELF FOR A RESOLUTION OF NO OBJECTION.
THERE'S A LOT OF THINGS THAT HAVE TO HAPPEN.
ALL WE'RE TRYING TO DO IS BE ABLE TO MOVE IT FORWARD TO, TO CONTINUE WORKING ON THE DEVELOPMENT TO MAKE SURE THAT WE, WE GET IT RIGHT.
IF IT'S, IF IT TURNS OUT THAT, YOU KNOW, THIS ISN'T QUITE THE RIGHT PROJECT FOR THIS SITE, SO BE IT, WE DON'T HAVE TO MOVE FORWARD.
BUT LDG IS COMFORTABLE WORKING WITH THAT RISK AND, UH, KNOWING THAT THEY HAVE HOMEWORK TO DO TO, UH, GET A APPROVAL OF THE MOU.
SO AT THIS TIME WE'RE SO PRELIMINARY THAT, UM, THAT'S, I'M JUST TRYING TO KIND OF SET WHAT WE'RE ACTUALLY APPROVING HERE, SO THANKS.
BUT IT SOUNDS LIKE HOUSING AND NEIGHBORHOOD REVITAL REVITALIZATION ALREADY HAS DONE THE WORK.
SO FROM THAT WORK, CUZ I'M SURE THEY'VE LOOKED AT THE MAPS AS WELL, UM, AS YOU'RE SAYING, MAKING SURE THAT IT IS IN COMPLIANCE WITH THE, UH, C H P, UM, ET CETERA.
SO CAN Y'ALL JUST EMAIL US THAT, BECAUSE IT SOUNDS LIKE IT'S ALREADY DONE.
YEAH, I MEAN, I'LL SEND YOU THE CONFIRMATION FROM OUR OFFICE OF FAIR HOUSING, UH, STATING THAT IT HAS AFFIRMATIVELY FURTHER FAIR HOUSING BASED ON THEIR REVIEW OF THE APPLICATION CHECKLIST FROM L D G.
WE DON'T, WE DON'T TOUCH THAT, UH, THAT REVIEW OR THAT ANALYSIS.
IT'S SEPARATE FROM OUR DEPARTMENT.
SO I WILL TRY TO, THEY HAVE HAD A COUPLE RETIREMENTS RECENTLY, BUT WE WILL TRY TO GET THAT TO THE BOARD, NOT TRY WILL.
UM, ANY OTHER QUESTIONS OR COMMENTS? UM, ARE WE COMFORTABLE TO MOVE ON TO A VOTE? YEAH, THIS IS DOT LEWIS THIS LAST QUICK COMMENT.
SO, I MEAN, I'M OKAY WITH GETTING L E G A TIME TO GIVE A FAR PUNCH, BUT FROM MY STANDPOINT, I DON'T KNOW IF I'M STILL GONNA BE ABLE TO SUPPORT IT JUST BECAUSE OF THE SATURATION OF LINE TECH OVER THERE.
AND I THINK THAT WE NEED TO AT SOME POINT MAKE A KIND OF A STERN STANCE TO FORCE THE CITY TO KIND OF BE A LITTLE BIT MORE CREATIVE AND THINK OUTSIDE OF THE BOX, EVEN THOUGH STUFF IS ZONED MOST A FAMILY, BUT YOU COULD STILL HAVE THE DENSITY, UM, TO, TO UM, MAKE AVAILABLE FOR, FOR AFFORDABLE HOUSING TO AND STOCK WHATEVER.
SO, YOU KNOW, I, I WILL SUPPORT TO MOVE TO THE NEXT, UM, BITE OF APPLE.
BUT, UH, I'M, I'M, I'M STILL NOT REALLY IN SUPPORT OF IT OVERALL.
UH, DO WE HAVE A MOTION ON THE FLOOR? I MOTION TO VOTE ON THE AGENDA ITEM.
SORRY, I WAS MOTIONING FOR US TO APPROVE.
[01:20:01]
THE MARTINEZ DR.BANKS, UH, DO WE HAVE THAT? YES.
SO WE'LL DO A ROLL CALL VOTE ON THIS ONE.
UM, PRESIDENT HELLEN, HOW DO YOU VOTE? YES, BUT I'M DEFINITELY COGNIZANT OF ALL THESE CONCERNS THAT WE'VE EXPRESSED.
SO AT THE NEXT PHASE I WOULD WANT TO SEE THEM ADDRESSED.
UM, DIRECTOR NISHKE, UH, I'LL ABSTAIN CUZ I WON'T BE HERE NEXT MONTH WHEN YOU ALL GET THIS INFORMATION.
UM, DIRECTOR PAGE IS STEPPED OUT FOR A MINUTE.
SO IS THAT AN ABSTENTION? UH, AB ABSENT WHAT? AB ABSENT.
AND DIRECTOR COLLINS? I VOTE YES.
IT SOUNDS LIKE THE YESES HAVE IT ALL.
RYAN, I HAVE A POINT OF ORDER HERE.
UM, I'M, I'M GETTING MESSAGES FROM OUR CITY ATTORNEY.
SHE SAYS WE ACTUALLY HAVE TO TAKE A FORMAL VOTE ON THE VICE PRESIDENT, UH, POSITION.
UM, THAT'S ACCORDING TO OUR BYLAWS, SO I'M SORRY THAT WE HAVE TO DO THAT.
UM, WOULD SOMEONE MIND MAKING A MOTION REALLY QUICK? I MOVED, I MOVED TO, UH, NOMINATE, UM, UH, SECRETARY GARCIA AS VICE PRESIDENT DIRECTOR LEWIS.
UM, OKAY, I GUESS WE'LL MOVE INTO ELECTIONS.
UM, ALL THOSE IN FAVOR PLEASE SAY AYE.
THANK Y'ALL VERY MUCH FOR THE, FOR THE CONFIDENCE.
UM, NOW WE MOVE INTO ITEM NUMBER EIGHT.
ITEM NUMBER EIGHT, CONSIDERATION AND POSSIBLE ADOPTION OF A RESOLUTION.
DECLARING INTENT TO ISSUE BONDS FOR A LOAN TO ROCK ISLAND RIVERFRONT LP TO PROVIDE FINANCING FOR A MULTIFAMILY RENTAL DEVELOPMENT FOR PERSONS OF LOW AND MODERATE INCOME.
LOCATED AT 10 27 SOUTH RIVERFRONT BOULEVARD IN AN AGGREGATE PRINCIPLE AMOUNT NOT TO EXCEED 45 MILLION, AUTHORIZING THE FILING OF AN APPLICATION FOR AN ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD AND CONTAINING OTHER PROVISIONS RELATED TO THE SUBJECT.
UM, SO OUR NEXT PROJECT, ROCK ISLAND RIVERFRONT.
THIS IS 10 27 SOUTH RIVERFRONT BOULEVARD, JUST SOUTH OF DOWNTOWN HERE IN THE RIVERFRONT DISTRICT.
THIS IS GOING TO BE 178 UNITS.
UM, THERE'S GONNA BE MULTIPLE PI OF AFFORDABILITY IN THIS SITE.
24 UNITS AT 60% AAMI, 18 AT 80% AND 66 MARKET RATE UNITS, UM, INCLUDING 30 PROJECT BASED VOUCHERS ON THE PROJECT.
TOTAL COSTS ARE GONNA BE AROUND 78 MILLION.
UM, AGAIN, THERE'S GONNA BE PLENTY OF COMMUNITY SERVICES, K-12 PROGRAMMING, UM, FOOD PANTRY, ALL OF THESE THINGS THAT, THAT ARE OFFERED HERE IN ADDITION TO PARTNERSHIP WITH LOCAL LAW ENFORCEMENT, UM, PROVIDING QUARTERLY ACTIVITIES TO TE TENANTS.
UM, OUR DEVELOPER, SO RAMIREZ IS HERE SO HE CAN TAKE ANY OF THESE QUESTIONS IF YOU GUYS HAVE ANY.
SO BEING KIND OF FAMILIAR WITH THAT AREA 75 2 0 7, IT FEELS TO ME THAT THERE IS A NEED FOR THIS TYPE OF PROJECT.
HOWEVER, I WAS SURPRISED TO SEE THAT THEY'RE GOING TO BE MORE MARKET RATE UNITS THAN PROJECT-BASED VOUCHER UNITS BECAUSE I FEEL LIKE THE SURROUNDING PROJECTS THAT ARE GOING UP OFF OF NORTH BECKLEY, AND I KNOW THERE'S ONE AT RIVERFRONT AT THE END OF THE BRIDGE THERE BY TRINITY GROVES.
I FEEL LIKE THOSE ARE ALREADY ALL MARKET RATE.
SO CAN YOU EXPLAIN TO US WHY YOU'VE GOT 66 MARKET RATE UNITS, BUT ONLY 30 PROJECT-BASED VOUCHER UNITS? WELL, WE, WE WANTED TO MAKE SURE THAT, OH, YES.
[01:25:01]
RAMIREZ, UH, PETRO DEVELOPMENT, UH, AND REPRESENTING ROCK ISLAND RIVERFRONT DEVELOPMENT.SO, SO WE, UH, WE HAVE, UH, UP TO 75 VOUCHERS THAT WE CAN WORK WITH, UH, BASED ON OUR CONVERSATIONS WITH THE HOUSING AUTHORITY AS THIS PROJECT MOVES FORWARD.
BUT WE, WE WERE ALSO INTERESTED IN NOT CREATING A GREATER CONCENTRATION OF VOUCHERED RESIDENTS, UH, IN THE DEVELOPMENT, BECAUSE WE REALLY WERE WORKING TO, TO BALANCE THAT OUT WITH THE NEEDS OF THE HOUSING AUTHORITY AS WELL.
UM, IT, IT IS A, UH, AN ISSUE THAT IS, IS OPEN, UH, FOR CONVERSATION AND POSSIBLE EXPANSION.
WE'D WANNA WORK IN PARTNERSHIP, UH, WITH THE HOUSING AUTHORITY AS IT RELATES TO THOSE PROJECT-BASED VOUCHERS TO MAKE SURE THAT THAT THE NUMBER THAT'S CALIBRATED THERE IS, IS, IS, UH, CORRECT.
UH, BUT, BUT WE, UH, UH, BUT WE INITIALLY PUT THE 30 THERE TO, TO HELP BRING A, A BETTER MIX OF, OF WORKFORCE HOUSING OPPORTUNITIES FOR THE DOWNTOWN AREA AND THE EXPANDING DEMAND FOR, FOR DIFFERENT LEVELS OF, OF INCOME EARNERS, UH, THAT CLOSE TO THE DOWNTOWN AREA, UH, SPECIFICALLY.
BUT IT IS SOMETHING THAT AS WE GO THROUGH THE, THE, THE PROCESS AND WE ARE FINALIZING THE TRANSACTION AND, AND THE ACTUAL FIRM COMMITMENTS, UH, ON THE VOUCHER SIDE, UH, WE CAN CERTAINLY REVISIT THAT.
UH, UH, UH, IF, IF, IF THAT IS, UH, SOMETHING, UH, YOU'D LIKE TO CONSIDER AS WE MOVE FORWARD, I ACTUALLY WOULD, UM, BECAUSE I THINK THAT DEAR SERVING A VERY SIGNIFICANT POCKET OF THE POPULATION IN THE AREA WHO DOESN'T HAVE A LOT OF OPTIONS RIGHT ALONG RIVERFRONT RIGHT THERE.
SO I WOULD LIKE TO SEE IF THERE'S ANYTHING YOU COULD DO TO KIND OF IMPROVE THE MIX A LITTLE BIT.
UM, 66 MAREE UNITS FOR SOME REASON, THAT'S JUST FEELING A LITTLE HEAVY FOR ME.
NO, WE, WE CAN, WE CAN, WE CAN TWEAK IT AND WE CAN RUN THE PROFORMAS, UH, ACCORDINGLY SO THAT WE CAN ALL LOOK AT 'EM, UM, UH, AND, AND, AND, AND MAKE, UH, A BETTER CALL ON, ON THAT NUMBER.
AND I DO WANNA, I, I WOULD ADD DIRECTOR FERRELL.
THE 66 UNITS, THAT'S, THAT'S STILL LESS THAN HALF.
I JUST HIGHLIGHT THAT THERE ARE 24 UNITS AT 60% AND 18 AT 80.
SO THE MAJORITY OF THE PROJECT WILL BE, UM, AFFORDABLE, RESTRICTED, AFFORDABLE.
BUT, BUT I, I, I HEAR, I HEAR YOUR POINT AND MM-HMM.
WE, WE HAD ACTUALLY WANTED TO INCLUDE MORE VOUCHERS.
UM, AND, AND, UH, AND AGAIN, IN OUR CONVERSATIONS WITH THE HOUSING AUTHORITY, UH, UH, WE DO HAVE SOME ROOM TO WORK WITH THEM ON THAT.
UH, BUT WE WANTED TO BE ALSO SENSITIVE TO THE, TO THE DEMANDS ON, ON THE, ON THE VOUCHER PROGRAM, AT THE HOUSING AUTHORITY ITSELF, AND, AND THE DISTRIBUTION O OF THOSE VOUCHERS BASED ON THE, THE COURT ORDER THAT'S CURRENTLY IN PLACE, AS WELL AS, AS TRYING TO DIVERSIFY, UH, THE, THE, THE POPULATION AND NOT CREATE HIGH, HIGH CONCENTRATIONS WITHIN, WITHIN DEVELOPMENTS OR AREAS.
BUT, BUT I, I HEAR YOU LOUD AND CLEAR AND, AND, AND WE, WE CERTAINLY WILL, WILL REVISIT THAT, UH, DURING THIS PROCESS.
JUST TO CON, JUST TO CONFIRM, I MEAN, THIS PROBABLY SOUNDS EXTREMELY REDUNDANT AND, AND OLD NOW AHEAD.
I KEEP REITERATING IT, BUT, UH, BUT THAT'S, THOSE ARE THE TYPE OF THINGS THAT WE CAN REALLY HAMMER DOWN WHEN WE GET AN MOU IN FRONT OF US AND REALLY LOOK AT THE, THE BUSINESS TERMS OF THE, OF THE DEVELOPMENT.
BECAUSE A LOT OF THIS IS PREDICATED ON WHAT CAN ACTUALLY BE FINANCED, WHAT CAN, WHAT ACTUALLY PENCILS, WHAT'S ECONOMICALLY FEASIBLE.
UM, AND I, I WOULD SAY, I MEAN, THIS IS ALSO THE TYPE OF, I, LIKE, I, LIKE I SAID, I, I, IT'S JUST WE CAN, WE'LL CERTAINLY WORK ON THIS AND, AND I'M GLAD THAT YOU HAVE THIS OUT THERE ON THE RECORD, SO SAUL KNOWS THAT IT'S, THIS IS ONE OF OUR, ONE OF OUR ISSUES, AND WE CAN WORK WITH THAT, AND HE CAN WORK WITH ABSOLUTELY THE HOUSING AUTHORITY.
BUT I JUST WANTED TO PUT THAT OUT THERE.
THANK YOU FOR BRINGING THAT UP.
BUT I DO SEE SOMETHING GOOD IN HERE.
I DO LIKE, I DO LIKE THE PRE-K PROGRAM ON SITE, SO I AM VERY HAPPY TO SEE THAT.
WE, WE ARE PLANNING TO BUILD BOTH, UH, UH, A COMMUNITY CENTER, UH, FOR THE RESIDENCE PRIMARILY, BUT ALSO WILL MAKE AVAILABLE TO THE NEIGHBORHOOD FOR NEIGHBORHOOD ACTIVITIES, UH, AS WELL AS AN ONSITE, UH, A CHILDCARE, UH, CENTER, UH, TO BE DEVELOPED THERE ON THE PROPERTY AS WELL.
SO, JUST SO I UNDERSTAND CORRECTLY, ARE YOU SAYING THAT THE PRE-K PROGRAM ONSITE WILL ALSO BE OPEN TO THE COMMUNITY? WE ARE GONNA, WE ARE GONNA HAVE, UH, A PREFERENCE TO OUR RESIDENTS, UH, FIRST, BUT WE DO WANNA MAKE IT AVAILABLE, UH, DEPENDING ON, ON WHAT WE'RE ABLE TO PUSH.
UH, WE'RE IN CONVERSATIONS WITH A COUPLE OF POTENTIAL PARTNERS FOR THE SERVICES, INCLUDING, UH, HEADSTART MM-HMM.
[01:30:01]
FOR THEIR PROGRAMS. UM, BUT, BUT WE, WE ARE, WE, WE WOULD LIKE TO MAKE THIS, UH, A BIT MORE, UM, NEIGHBORHOOD FRIENDLY IN THAT REGARD BECAUSE THERE IS ALSO NEED FOR CHILDCARE SERVICES OUTSIDE OF THE DEVELOPMENT ITSELF DESPERATELY.SO, HERE AGAIN, I WAS CURIOUS ABOUT SCHOOLS, LIKE WHAT SCHOOLS? SO, SO, SO WE HAVE APPROACHED THE, THE SCHOOL DISTRICT.
THERE ARE, THERE ARE SEVERAL, UH, MAGNET SCHOOLS THAT ARE GETTING, UM, UM, UH, A FAIR NUMBER OF STUDENTS ALREADY ATTENDING FROM THAT AREA TO THOSE MAGNET SCHOOLS.
WE ARE WORKING, AND BECAUSE IT'S IN A, A PATH THAT ALLOWS FOR, UM, A CHOICE AROUND A COUPLE OF THE ELEMENTARY SCHOOLS, THEY'RE IN THE AREA.
UH, UH, WE'VE, WE'VE BEEN WORKING WITH THE SCHOOL DISTRICT TO BETTER IDENTIFY, YOU KNOW, HOW THEY WOULD ANTICIPATE ADDRESSING THE NEEDS OF THE RESIDENTS WITH A DIFFERENT, UH, WITH, WITH NOT JUST THE, THE SCHOOLS THAT ARE, ARE DIRECTLY IN THE AREA, THE ELEMENTARY SCHOOLS AND, AND THE MIDDLE SCHOOLS, BUT ALSO THE OTHER MAGNET SCHOOLS THAT SEEM TO BE ATTRACTING A, A FAIR NUMBER OF, OF KIDS FROM THAT AREA.
SO, UM, I WASN'T ABLE TO DRIVE OVER AND SEE THE SITE, BUT WHEN I LOOKED AT IT ON GOOGLE, I JUST DIDN'T EVEN SEE WHERE THOSE SCHOOLS WOULD BE.
SO, SO ONE OF THE THINGS THAT WE'VE DONE, AGAIN, BECAUSE OF, OF, OF THE, THE TRANSPORTATION HUB THAT IT IS, AND, AND THE SCHOOL DISTRICT ENCOURAGING, UH, A BIT MORE, UH, EXPANSION INTO, AND I BELIEVE, AND, UM, IF MEMORY SERVES ME RIGHT, THERE IS, UH, SOME PLAN FOR, FOR A MIDDLE MAGNET TYPE OF, OF, UH, MIDDLE SCHOOL, UH, UH, UH, SCENARIO THERE AS WELL.
UM, BUT, YOU KNOW, WE, AS WE WORK TO TRY TO GET THESE SCORES, UH, ON THE, ON THE SCHOOLS THAT WERE, UH, UH, GENERALLY AROUND THERE, AND WE PROVIDED A LIST OF THOSE IN, IN THE APPLICATION.
UH, THE, THE SCHOOL DISTRICT JUST HASN'T BEEN ABLE TO, TO SCORE THOSE SCHOOLS BECAUSE OF THE SHUTDOWN THAT THEY'VE EXPERIENCED.
BUT THINGS ARE, ARE CRANKING BACK UP AND, UH, AND THEY FEEL PRETTY CONFIDENT THAT THEY'RE, THAT THEY'RE HEADED IN THE RIGHT DIRECTION.
BUT I'LL BE MORE THAN HAPPY TO REACH OUT TO THEM AGAIN AND GET ANY SPECIFIC INFORMATION THAT YOU'D LIKE, MADAM CHAIR? WELL, I JUST, I GUESS IN ADDITION TO KNOWING THE RANKINGS OF THE SCHOOLS, HOW FAR AWAY ARE THE SCHOOLS? I JUST DIDN'T SEE ANY ANYWHERE CLOSE TO THERE.
SO, SO, SO I'M FAMILIAR WITH THE AREA.
UM, SO AGAIN, THERE, THERE ARE, THERE ARE A COUPLE OF ELEMENTARY SCHOOLS THAT ARE JUST UP THE ROAD, UM, FROM, FROM RIVERFRONT AND TOWARDS LAMAR, UH, WHERE MOST OF THESE KIDS WOULD BE GOING.
THERE'S, UH, ALSO BECAUSE OF THE PATH THAT THE, THE AREA IS PUT ON WITHIN THE SCHOOL DISTRICT, THERE'S ALSO A COUPLE OF ELEMENTARY SCHOOLS ON THE OTHER SIDE OF THE RIVER AS WELL.
AND, UH, I DON'T, I DON'T HAVE THE LIST IN FRONT OF ME, BUT I'LL BE MORE THAN HAPPY TO GET YOU ALL THE SCHOOLS.
UH, UH, AGAIN, WE DID PROVIDE THOSE, UH, TO YOU, BUT, BUT, SO THAT YOU CAN SEE THE SCHOOLS THAT WILL BE AVAILABLE, UH, TO THE KIDS, UH, IN, IN THE, IN THAT DEVELOPMENT, THEN THEY'D ALREADY SERVED THAT NEIGHBORHOOD.
AND DIRECTOR, I MEAN, PRESIDENT HAL AND I, I'VE GIVEN, UH, A TALK ABOUT AFFORDABLE HOUSING TO THE STUDENTS AT CITY LAB HIGH SCHOOL, WHICH IS ABOUT A MILE AWAY.
UM, THAT'S THE ONE I KNOW OFF THE TOP OF MY HEAD.
BUT, UH, I, I BELIEVE THIS IS ALL IN, IN THE APPLICATION, WHICH WE CAN HIGHLIGHT AND I IDENTIFY, UH, FOR YOU.
THIS IS DISTRICT SIX, CORRECT? NO.
DISTRICT FOUR DISTRICT, OR IS IT TWO? UM, MORENO, COUNCILMAN MORENO.
IT, IT, IT'S ACTUALLY, IT'S DISTRICT 2, 2 2.
UM, I, I DON'T SEE ANYONE'S HANDS RAISED UP, BUT I, I DON'T WANNA SKIP OVER ANYONE WHO MAY HAVE COMMENTS OR QUESTIONS.
UM, ANYBODY HAVE ANYTHING? I HAVE A QUESTION.
IS THIS DEVELOPMENT UNDERGOING NOW, OR IS IT SOMETHING THAT'S FUTURISTIC? NO, MA'AM.
IT'S, IT, WE'VE, WE'VE, UH, WE'VE ACTUALLY LINED EVERYTHING UP ALREADY WITH THE CITY DEPARTMENTS, INCLUDING THE, THE, THE PERMITTING, UH, FOLKS AS WELL.
UH, WE'VE GONE THROUGH A ZONING CHANGE TO HELP, UH, CONCENTRATE THE AFFORDABILITY ON THE SITE THROUGH THE CITY, WHICH HAS ALREADY BEEN APPROVED, AND WE ARE SHOVEL READY, UH, UH, UH, YOU KNOW, UH, IF ALL GOES WELL IN THE LOTTERY.
[01:35:01]
NUMBER CALLED, UH, TO, TO MOVE THIS PROJECT FORWARD, UH, POST HASTE.AND SO WE WOULD SEE OURSELVES, AND THERE'S A COUPLE OF OTHER PUBLIC IMPROVEMENT, UM, UH, BOND, UH, UH, PROS THAT ARE BEING DISCUSSED RIGHT NOW, THAT, THAT, UH, LINEUP WELL WITH OUR DEVELOPMENT PLAN.
AND I'M, I'M GONNA SPEAK TO, TO KYLE AFTER THIS MEETING OR SHORTLY AFTER, UH, ABOUT THOSE.
BUT, BUT THIS, THIS PROJECT IS READY TO GO.
AND WE'VE SPENT, UH, UH, A GREAT, UH, AMOUNT OF TIME WITH, UH, WITH THE PLANNING DEPARTMENT, THE BUILDING DEPARTMENT, AS WELL AS THE CITY MANAGER'S OFFICE, AND COMMUNITY DEVELOPMENT FOLKS AS IT RELATES TO THIS DEVELOPMENT.
I DRIVE THIS AREA, UM, EVERY DAY, ACTUALLY.
UM, CAN YOU TALK ABOUT THE CRIME IN THIS AREA? SO, SO, YOU KNOW, THERE IS A BIT OF A, OF A, OF A CHALLENGE RIGHT NOW, UH, ON, UM, ON, ON, UH, VAGRANCY, UM, MM-HMM.
THEY DO HAVE A COMMUNITY, UH, UH, NEIGHBORHOOD PROGRAM THAT WE'RE ALREADY ENGAGED WITH THEM ON.
AND WE'RE PLANNING NOT JUST, UH, REGULAR MEETINGS, BUT THEY, THEY WILL, THEY'VE ACTUALLY, UM, WORKED WITH US ON THE DESIGN TO MAKE THE BUILDING AND THE SITE ITSELF, UH, UM, BETTER PROTECTED IN THE SENSE THAT IT'S, UH, BOTH AESTHETICALLY PRE PLEASING AS WELL AS, AS TAKING INTO ACCOUNT THE, THE DIFFERENT ASPECTS TO CREATE A GREATER, UH, UM, UM, SAFE AREA FOR, FOR THAT AREA.
AND BECAUSE YOU DRIVE IT EVERY, EVERY DAY, YOU KNOW THAT JUST RIGHT AS YOU KEEP GOING DOWN KA MM-HMM.
ALL OF THAT, UM, UH, SIDEWALK AND LIGHTING IMPROVEMENT AND ALL THAT IS, IS, IS HEADED OUR WAY.
IT'S, IT'S JUST PAST THE, THE, THE, THE UNDERPASS RIGHT NOW.
AND, UH, AND, AND, AND THAT'S PART OF, OF ALSO WHAT WE WANNA COORDINATE, UH, WITH THE CITY.
WE, WE HAVE BEEN ASKED TO, TO, UH, CONTRIBUTE, UH, TO, TO, OF COURSE, THE SIDEWALKS, THE, THE LIGHTING, AND ALSO SOME ADDITIONAL, UH, INFRASTRUCTURE IMPROVEMENT TO NOT JUST ALLOW FOR OUR DEVELOPMENT TO TAKE PLACE, BUT TO ALLOW FOR ADDITIONAL, UH, DEVELOPMENT TO OCCUR, UH, OCCUR IN THAT AREA.
BUT AS FAR AS CRIME IS CONCERNED, UH, IT'S NOT THE HIGHEST, UH, UH, UH, RATED CRIME AREA, BUT IT'S NOT THE LOWEST EITHER.
AND THERE'S ROOM FOR IMPROVEMENT THERE.
AND, UH, AS I SAY, WE ARE IN DIRECT CONTACT, UH, WITH THE POLICE DEPARTMENT AND THEIR, AND THEIR, UH, OUTREACH FOLKS AND ARE WORKING, UH, HAND, HAND IN HAND WITH THEM TO, TO NOT JUST, UH, ADDRESS THE, THE SAFETY CONCERNS WE HAVE AS, UH, LORD WILLING, WE GO THROUGH THE, THE CONSTRUCTION, UH, BUT ALSO ONCE WE'VE COMPLETED IT, AND IT'S, UH, FULLY STABILIZED WITH RESIDENTS, UH, UH, ALSO REMEMBER THERE'S GONNA BE THIS, UH, THE, THE, THE CONVENTION CENTER EXPANSION IS 10 MINUTES AWAY FROM, FROM THAT PROPERTY.
SO THERE'S GONNA BE A, A LOT MORE, UH, DEVELOPMENT THAT IS, IS, IS COMING, UH, DOWN THE PIKE IN THAT AREA, INCLUDING MARKET RATE UNITS AND, AND COMMERCIAL AND RETAIL, UH, UH, UH, FACILITIES.
UH, UH, AND SO I THINK THAT, THAT WE PLAN TO, AS WE DO WITH ALL OUR OTHER DEVELOPMENTS, UH, TAKE AN ACTIVE ROLE IN WORKING WITH, UH, THE CITY AND IN PARTICULAR WITH THE POLICE DEPARTMENT AND BEING A LEADER IN ADDRESSING THE SAFETY CONCERNS OF THE NEIGHBORHOOD.
AND I, I'LL, I'LL HOP ON ON THAT.
UM, I'VE BEEN WORKING WITH PETRA DEVELOPMENT, I THINK THEY SUBMITTED THE FIRST ITERATION OF THIS PROJECT, BUT OVER A YEAR AGO.
SO DURING THAT TIME, THEY'VE BEEN WORKING WITH OUR OFFICE OF INNOVATIVE PUBLIC SAFETY SOLUTIONS TO MAKE SURE THAT, UH, THE BEST PRACTICES IN CRIME PREVENTION THROUGH ENVIRONMENTAL DESIGN, SEP TED, AS SOME MAY KNOW IT, UH, ARE IMPLEMENTED HERE.
BUT, UH, I KNOW THAT THE VOTE FOR THE CONVENTION CENTER IS, IS GOING TO BE ON THE BALLOT THIS NOVEMBER.
BUT IF THAT MOVES FORWARD, UH, THAT'S A TRANSFORMATIONAL PROJECT THAT WILL BE WITHIN 10 MINUTES FROM THIS SITE.
SO, DID CAL GET DISCONNECTED? DID WE JUST LOSE CITY HALL
OH, THEY'RE LIKE A BLACK SCREEN.
IN THE MEANTIME, I'D LIKE TO MAKE A COMMENT.
UM, I DO NOT LIKE THE FACT THAT REALLY THERE'S NO SCHOOLS REALLY CLOSE, ESPECIALLY ELEMENTARY SCHOOLS.
[01:40:01]
DOING SOME DIFFERENT AND INNOVATIVE THINGS, BUT, UM, I REALLY LIKE LOCATION.JUST DON'T LIKE THE FACT THAT SCHOOLS ARE NOT CLOSE BY, NOTHING IS CLOSE BY HERE.
UM, AND IT'S, IT'S AN AREA THAT IS BEING DEVELOPED THAT WE NEED TO DEVELOP AS A CITY.
BUT, YOU KNOW, THINKING OF WHO ARE, WHO ARE WE SERVING? WE'RE SERVING FAMILIES AND AMENITIES, AREN'T THERE? UM, UM, I'M VERY CONCERNED ABOUT THAT.
THIS IS KELSEY SAFO, CITY ATTORNEY'S OFFICE.
WE NEED TO WAIT, UM, UNTIL WE GET CITY HALL BACK ON BEFORE CONTINUING OUR COMMENTS AND DISCUSSION.
KELSEY, DO YOU HAVE AN UPDATE? I DO NOT.
I'M TRYING TO GET IN TOUCH WITH THEM AS WELL.
OH, NO, HOUSTON, WE HAVE A PROBLEM.
WE'RE RUNNING OFF THE AUDIO ON MY COMPUTER RIGHT NOW.
UH, CAN YOU, DID WE GET A MOTION FROM ANYBODY? WELL, UM, ALSO, WE'RE STILL DISCUSSING TREASURER MARTINEZ HAD HAD SOMETHING SHE WANTED TO GET ON THE RECORD.
WELL, WHAT I WAS SAYING WAS, I LOVE THE LOCATION.
I KNOW WE NEED TO BUILD, AS FAR AS THE CITY IS CONCERNED, THE CITY OF DALLAS, MY BIGGEST CONCERN IS THERE AREN'T ANY SCHOOLS CLOSE BY, ESPECIALLY ELEMENTARY SCHOOLS, AND WE HAVE TO REALLY LOOK AT WHAT AMENITIES ARE GOING TO BE AVAILABLE TO THE PEOPLE WE'RE TRYING TO SERVE.
UM, I HATE TO SAY NO TO THIS, OR I DON'T WANT TO SAY NO TO IT BECAUSE I KNOW WE NEED IT IN THIS AREA, BUT, YOU KNOW, THE AMENITIES ARE JUST NOT THERE.
AND THE CONVENTION CENTER GREAT FOR EMPLOYMENT FOR PEOPLE THAT ARE HERE, BUT AT THE SAME TIME THAT WE'RE LOOKING AT HAVING FAMILIES IN HERE, HOW IS THAT GOING TO SERVE THE CHILDREN? I AGREE.
AND THIS AREA ALSO HAS A NUMBER OF TIFFS SURROUNDING IT, UM, TO HELP WITH THAT INCREMENT FINANCING TO HELP WITH ECONOMIC DEVELOPMENT, ET CETERA.
UM, BECAUSE I, I DRIVE, I THINK IT'S BACK.
OH, BECAUSE I DRIVE THIS AREA EVERY DAY.
UM, I KIND OF WORK CLOSE BY IT.
UM, I, I JUST DON'T SEE HOW THIS MAKES SENSE NOW, UM, UNTIL IT WAS A LOT OF CLEANUP THAT NEEDS TO BE DONE.
UM, AND, YOU KNOW, AS, UH, TREASURER MARTINEZ STATED, THERE'S, THERE'S LITERALLY NO RESOURCES THERE.
I LITERALLY HAVE TO DRIVE TO THE MEDICAL DISTRICT TO GO TO THE GROCERY STORE, UM, ASIDE FROM THE FARMER'S MARKET ON THE WEEKENDS.
SO IT'S, IT IS, IT'S NOT EVEN, UM, A GOOD AREA RIGHT NOW TO EVEN CONSIDER HOUSING THAT IS I'LL HOLD, OH, ARE WE, UH, CAN YOU HEAR US? YES.
UH, SO HERE'S, I MEAN, AS FAR AS LIKE A, A PLANNING AND I GUESS HOUSING PHILOSOPHY, WE CAN, WE CAN SAY IT'S NOT GOOD RIGHT NOW AND THEN DO NOTHING.
THEN THE CONVENTION CENTER GETS APPROVED, BUILT THIS PROPERTY, GETS SOLD TO MARKET RATE DEVELOPER, AND THERE'S THAT, IT'S, IT'S KIND OF, IT'S A CHICKEN OR THE EGG SITUATION.
UH, THERE'S PROBABLY NO AMENITIES AROUND THERE RIGHT NOW, BECAUSE THERE, THERE IS NOTHING AROUND THERE RIGHT NOW.
BUT AS REDEVELOPMENT OCCURS, WE KIND OF HAVE TO BE ON THE CUTTING EDGE AND THE LEADING EDGE TO BE ABLE TO PROVIDE AFFORDABILITY.
AND THIS IS OUR OPPORTUNITY TO, TO DO THAT.
I THINK A LOT OF THIS DEPENDS ON, YOU KNOW, THE FUTURE DEVELOPMENT OF THE CONVENTION CENTER, WHICH WILL PROBABLY TACK ALONG RIGHT, ALONG WITH THE, THE SAME DEVELOPMENT PROGRESS OF, OF THIS, THIS PROJECT.
SO, UM, I WOULD HATE TO LOSE THIS.
I MEAN, WE RECENTLY HAD A DEVELOPMENT FOR A 9% APPLICATION THAT WAS RIGHT NEXT TO THE ZOO, NEXT TO THE ZOO DART STATION, UH, AND ACROSS THE STREET, LIKE BASICALLY A HALF MILE FROM THE NEW PARK DEVELOPMENT.
BUT, UM, IT WAS, IT WAS ULTIMATELY NOT A APPROVED INTERNALLY
[01:45:01]
HERE AT THE CITY.AND NOW WE HAVE LOST THAT SITE, AND EVERYBODY'S ASKING, WHY DON'T WE HAVE AFFORDABILITY NEAR THIS CITY INVESTMENT? SO, UM, I WOULD HATE FOR US TO, TO NOT EVEN GIVE THIS AN OPPORTUNITY TO MOVE FORWARD.
PERHAPS SOME OF THESE QUESTIONS CAN BE ANSWERED BASED ON, YOU KNOW, THE, THE FUTURE MOU, UH, AND UNDERSTANDING WHAT'S HAPPENING AT THE PROJ, AT, AT, AT THE PROPERTY LEVEL.
BUT I, I, I, I HATE TO, I, I DON'T KNOW, I, IT JUST, UM, I, I JUST, I JUST DON'T WANNA MAKE SURE THAT WE'RE, WE'RE, WE'RE WAITING AROUND FOR ALL OF THE OTHER DEVELOPMENT TO OCCUR, BECAUSE THEN AT THAT POINT WE'RE, WE'VE LOST OUR OPPORTUNITY.
THE LAND IS NO LONGER AFFORDABLE, AND WE CAN'T, WE HAVE, WE DON'T HAVE ACCESS TO IT ANYMORE.
SO THAT'S, I JUST WANTED TO KIND OF AIR THAT AS CAUTION.
I WAS JUST GONNA SAY ON THE, ON THE SCHOOL DISTRICT PIECE OF IT, WE HAVE BEEN WORKING QUITE CLOSELY WITH THE SCHOOL DISTRICT.
AND, AND QUITE FRANKLY, THEY DON'T SEE IT AS, AS, AS AN ISSUE BECAUSE AGAIN, UH, THEY'VE ALREADY BEEN SERVICING THAT AREA, UH, AND, AND IT CONTINUES TO GROW FROM WHAT THEY'RE TELLING US.
AND SO, DON'T KNOW WHAT, YOU KNOW, UH, HAVEN'T GOTTEN INTO IT WITH THEM TO THE LEVEL OF DETAIL OF IS THERE SOMETHING NEW THAT'S PLANNED THERE, BUT, UH, FOR, FOR THEM.
BUT WE ARE WORKING QUITE CLOSELY WITH THEM TO MAKE SURE THAT WE'RE ADDRESSING THE NEEDS OF THE, OF, OF THOSE KIDS THAT WOULD BE LIVING IN THOSE IN, IN, IN, IN, UH, IN THE DEVELOPMENT.
UH, WE, WE WILL ALSO BE PARTNERING UP WITH THEM AND, AND SOME OF THEIR OWN, UH, PARTNERS, UH, TO BRING AFTER SCHOOL PROGRAMS TO THE DEVELOPMENT AS WELL, UH, TO HELP THOSE KIDS, UH, WITH THAT.
AND WE'VE ALSO, UH, BEEN WORKING ON A TRANSPORTATION PLAN OF WHICH PART OF THE ZONING, UH, CHANGE THAT WE RECEIVED FOR THIS PROPERTY TO BE ABLE TO BUILD AFFORDABLE HOUSING IN THERE INCLUDED THE QUESTION OF HOW WE WOULD DEAL WITH TRANSPORTATION, UH, UH, UH, ON THAT, UH, SITE, EVEN THOUGH IT'S ACTUALLY, UH, A FIVE MINUTE WALK TO, TO, TO A COUPLE OF, OF, OF RAIL STATIONS, BUT MORE DIRECTLY TO THE RESIDENTS.
AND WE'VE, AND WE'VE GOT A, AN ONSITE, UH, SERVICE PROVIDER THAT WILL BE WORKING WITH US, A LOCAL PROVIDER THAT WILL BE WORKING WITH US, UH, TO DEAL WITH THAT.
BUT LET ME JUST SAY THAT, THAT SOME OF THE CONCERNS THAT YOU'RE BRINGING UP, UH, UH, WERE SOME OF OUR CONCERNS AS WELL.
UH, BUT IN OUR CONVERSATIONS WITH THE SCHOOL DISTRICT, UM, THEY DON'T, UH, FORESEE IT AS BEING AN ISSUE FOR, FOR THEM TO BE ABLE TO SERVICE THE KIDS THAT WOULD BE THERE AND, AND WORKING IN PARTNERSHIP WITH US TO MAKE SURE THAT THEY HAVE ACCESSIBILITY TO WHEREVER THEY MAY BE, UH, UH, ATTENDING.
AND LIKE I SAY, THE, THE, AS KIDS HAVE MOVED ON FROM ELEMENTARY, UH, AND, AND MOVING FORWARD THERE, THERE ARE QUITE A FEW, UH, UH, UH, KIDS FROM THAT AREA THAT ARE ALREADY, UH, UH, ATTENDING SOME OF THE MAGNET SCHOOLS IN OTHER PARTS OF THE CITY AS WELL.
SO WE, WE HEAR YOU LOUD AND CLEAR.
I THINK THAT, THAT, UH, WE HAVE A, A, A WORKING SOLUTION, UH, IN PLACE THAT WILL ONLY STRENGTHEN, UH, NOT JUST OUR DEVELOPMENT, BUT THAT ENTIRE NEIGHBORHOOD AND CONTINUE TO GROW IT INTO WHAT IT WAS ORIGINALLY, UH, PLANNED FOR, WHICH WAS TO TRANSFORM IT INTO A, A, AN URBAN LIVING, UH, UH, COMMUNITY.
UH, AND, AND AS YOU CAN SEE FROM ALL OF THE MARKET RATE ACTIVITY THAT'S GOING ON IN SEAS AND CEDARS WEST, THAT, THAT IT IS, UH, IT IS SOMETHING THAT WE THINK WILL, WILL ALLOW US TO PLANT THE FLAG AROUND AFFORDABILITY, UH, UH, IN THE AREA, AND ESPECIALLY FOR THE, THE, THE WORKFORCE HOUSING.
WHAT EXPERIENCE, WHAT HISTORY DO YOU HAVE OF, UH, WORKING WITH THE SCHOOL DISTRICT OR ANY OF THESE OTHER, UH, GROUPS? DO YOU ALL HAVE WORKING? WE'VE BEEN, WE'VE BEEN WORKING WITH THEM FOR THE BETTER PART OF A YEAR AND A HALF NOW, MA'AM.
UH, IN, NO, BUT I'M TALKING, YOU'RE TALKING ABOUT THIS SIDE? I'M TALKING ABOUT OH, OH, YES.
SO, NO, WE'VE, WE'VE, WE'VE, UH, WE PARTNER WITH THE SCHOOL DISTRICTS IN THE DIFFERENT SITES THAT WE'VE GOT, UH, DEVELOPED THROUGHOUT THE COUNTRY.
UH, AND WE WORK WITH THE SCHOOL DISTRICTS.
OUR, OUR FORTE IS BUILDING, UH, UH, UH, SUSTAINABLE HOUSING AND, AND, UH, HIGH PRICED AREAS AND IN URBAN, UH, CORES.
AND SO THIS IS, UH, RIGHT UP OUR WHEELHOUSE IN DEALING WITH, WITH NOT JUST SCHOOL DISTRICTS, BUT ALSO WITH, WITH, UH, UH, WITH, UH, PUBLIC SAFETY, UH, AS WELL AS PART OF, OF, OF WHAT WE DO ON A, ON A REGULAR BASIS.
AND SO WE HAVE A, UH, AN EXTENSIVE TRACK RECORD OF, OF DOING THAT.
[01:50:01]
MIGHT ADD THAT ALL OUR DEVELOPMENTS ARE AFFORDABLE AND ARE PRIMARILY, UH, UH, UH, UH, VOUCHER, UH, RESIDENTS THAT LIVE IN ALL OUR DEVELOPMENTS.AND I WILL SAY, UH, I DIDN'T PROBABLY GIVE, UH, UH, SAUL A PROPER INTRODUCTION, BUT HE IS A FORMER DEPUTY SECRETARY OF HUD, SO HE HAS AMPLE EXPERIENCE IN WORKING THROUGH AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT ACTIVITY.
SO I WOULD, I WOULD JUST SAY THAT THERE, THERE'S AMPLE EX EXPERIENCE ON THE SIDE OF PETRA DEVELOPMENT.
SO, SO, SO YOU OPENED THE DOOR, BUT JUST TO GIVE YOU A LITTLE, JUST A, UH, A THUMBNAIL BACKGROUND ON, ON MYSELF, UH, PRIOR TO, TO, UH, BECOMING THE DEPUTY SECRETARY OVER AT HUD, UH, UM, I WAS, UH, UH, UH, THE, A CITY COUNCIL MEMBER AND MAYOR OF THE CITY OF LAREDO, TEXAS.
UM, AND, UH, AND THEN MOVED UP TO DC BECAME ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND DEVELOPMENT AT HUD, AND THEN ASSUMED THE, THE, THE ROLE OF DEPUTY SECRETARY FOR THE ENTIRE DEPARTMENT.
UH, DID THAT THROUGH THROUGHOUT THE ENTIRE ADMINISTRATION, UH, AND STAYED IN WASHINGTON, UH, AND HAVE BEEN INVOLVED IN, IN, UH, COMMUNITY, UH, DEVELOPMENT, HOUSING, AND ECONOMIC DEVELOPMENT IN PARTICULAR, UH, SINCE THAT TIME.
AND SO, SO THAT'S JUST A, A, A, A QUICK, UH, UH, REFERENCE POINT AS TO EXPERIENCE IN DEALING WITH, WITH, UH, WITH, UH, COMMUNITIES.
UM, I JUST WANNA SAY, LOOK, I THINK TO GET A SITE THIS CLOSE TO THE URBAN CORE OF DALLAS, UH, DOWNTOWN DALLAS HAS BEEN VERY RARE FOR THIS ORGANIZATION.
THERE ARE GONNA BE TENANTS THAT ARE JUST GONNA HIGHLY VALUE RESIDENTS.
THEY'RE GONNA HIGHLY VALUE THIS CLOSE PROXIMITY TO ALL THE JOBS, THE HOTEL WORKERS, THE CITY WORKERS, THE, YOU KNOW, I MEAN, THERE, THIS TYPE OF PROXIMITY TO THESE JOB CENTERS, I THINK THERE ARE GONNA BE RESIDENTS THAT VALUE THAT MORE THAN THE PROXIMITY TO A SCHOOL.
AND I, WE DO WANT EVERYTHING FOR ALL THE RESIDENTS THAT WE CAN GET, AND WE WANT TO CHECK ALL THE BOXES IN THE WORLD.
BUT THIS IS, YOU KNOW, THAT'S JUST NOT HOW I THINK REAL ESTATE DEVELOPMENT WORKS.
I MEAN, YOU DO YOU CHECK ENOUGH BOXES? THIS ONE CHECKS A TON.
IT'S RARE FOR US TO GET A SITE LIKE THIS FOR LITECH.
IF ANYTHING, THIS IS OBVIOUSLY GONNA GET SCOOPED UP BY MARKET RATE DEVELOPERS AT SOME POINT SOON.
THE CITY HAS SAID, WE WANT MULTIFAMILY HERE.
YOU KNOW, NOT SAYING WE HAVE TO SAY IT, BUT I'M JUST SAYING, NO, THERE ARE ELEMENTS OF THE CITY SAYS YES, HERE, PUT MULTIFAMILY HERE, AND THIS WILL BE AFFORDABLE.
I MEAN, IT'S JUST, NOTHING'S GONNA BE PERFECT, BUT I MEAN, WE JUST DON'T SEE A SITE LIKE THIS VERY OFTEN, AND IT IS RIGHT THERE.
THE TENANTS WILL REALLY VALUE THIS PROXIMITY TO DOWNTOWN.
SO I'M FULLY SUPPORTIVE OF IT.
I APPRECIATE THIS BEING BROUGHT FORTH, UH, TO THE D H F C, FOR EXAMPLE.
UM, I JUST, DIRECTOR LEWIS, I JUST HAVE ONE QUESTION.
UM, IN REGARDS TO, I GUESS, PUBLIC SAFETY, HAS THAT BEEN KIND OF TALKED ABOUT? I HAVE TO STEP AWAY FOR A SECOND.
I KNOW IT'S KIND OF DOWN THE STREET FROM A LOT OF BAIL BONDS PLACES AND STERS AND STUFF LIKE THAT.
YOU KNOW, IS THERE GONNA BE SOME SECURITY MEASURES IN PLACE ON THOSE FIVES OR LIGHTING? YOU KNOW, JUST TO ADD THAT, YOU KNOW, UM, DETERRENCE, YEAH, I, YOU MUST HAVE MISSED THAT, BUT THEY'VE BEEN WORKING FOR OVER A YEAR NOW WITH D P D IN OUR OFFICE OF INNOVATIVE PUBLIC SAFETY SOLUTIONS TO IMPLEMENT THE BEST PRACTICES AND CRIME PREVENTION, PREVENTION THROUGH ENVIRONMENTAL DESIGN.
THEY'RE ALSO WORKING OFFSITE TO PROVIDE LIGHTING AND EVERYTHING.
SO THAT HAS BEEN PART OF THE CONVERSATION AND CERTAINLY, UH, A PRIORITY FOR BOTH THE CITY AND THE DEVELOPER.
AND MY LAST QUESTION IS, UM, UM, ARE THEY GONNA WORK TO BRING THE EXPLORATORIUM BACK OVER THERE?
SO I
UH, THEY WERE ACTUALLY AWARDED WHEN, WHEN OUR ZONING WENT THROUGH THE 281 MILLION FOR, FOR ALL KINDS OF DEVELOPMENT INTO THE DOWNTOWN AREA.
SO YEAH, WE WOULD NEED A, A, A, A HIGHER BOND INDUCEMENT FOR THAT.
UM, ANY MORE COMMENTS OR QUESTIONS BEFORE WE CALL A VOTE? THIS IS DIRECTED.
DO WE HAVE, I JUST WANTED TO SAY THAT I AGREE WITH KYLE THAT THIS IS A PRIME LOCATION FOR AFFORDABLE HOUSING IN DISTRICT SIX, AND I HONESTLY BELIEVE THAT IT'S NEEDED.
AND I AGREE THAT WE CAN WORK ON THE DETAILS AFTER THE PRELIMINARY BOND INDUCEMENT.
UM, SO DO WE HAVE A MOTION ON THE FLOOR? I'LL MOVE FOR,
[01:55:01]
UM, FOR US TO SAY YES ON THIS, UH, ON THIS AGENDA? ITEM IN FAVOR ON THIS AGENDA ITEM, STUART LEWIS SECOND.UM, WE'LL TRY TO DO A, JUST A VOICE VOTE.
UM, ALL IN FAVOR, PLEASE SAY AYE.
UH, LOOKS LIKE THE AYES HAVE IT.
UM, JUST A QUICK CONSIDERATION FOR TIME.
WE STILL HAVE A FEW MORE INDUCEMENTS TO GO, AND I DON'T WANNA RUN OVER ANYONE'S SCHEDULE SO WE CAN MAINTAIN A QUORUM.
SO IF WE COULD TRY TO KEEP DEBATE TO ROUGHLY 10 MINUTES, UM, THAT, THAT'LL BE THE GOAL FOR RIGHT NOW.
UM, BUT NOW WE'LL ROLL RIGHT INTO NUMBER NINE, UM, CONSIDERATION AND POSSIBLE RESOLUTION.
DECLARING INTENT TO ISSUE BONDS FOR A LOAN TO AMTEC BLUEBIRD FUND LP TO PROVIDE FINANCING FOR MULTIFAMILY RESIDENTIAL RENTAL DEVELOPMENT FOR PERSONS OF LOW AND MODERATE INCOME.
BLUEBIRD APARTMENTS LOCATED AT 4 39 WEST REDBIRD LANE IN AN AGGREGATE PRINCIPLE AMOUNT NOT TO EXCEED 45 MILLION, AUTHORIZING THE FILING OF AN APPLICATION FOR AN ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD, AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT.
SO THIS NEXT SITE IS AT 41 0 7 WEST REDBIRD LANE, UM, DOWN NEAR OUR PALLADIUM PROJECT.
271 WILL BE AT 60% AAMI WITH 30 MARKET RATE UNITS.
THIS IS GONNA BE AROUND 75 MILLION PROJECT.
UM, OBVIOUSLY WE HAVE THE PALLADIUM PROJECT NEAR THERE, UH, BUT IT IS ALSO IN THE REDBIRD STABILIZATION REINVESTMENT STRATEGY AREA FOR THE COMPREHENSIVE HOUSING POLICY.
UM, OUR DEVELOPER IS AMTEC, UM, AND I BELIEVE WE HAVE CHAD BAKER.
UM, HE'S HERE TO ANSWER ANY QUESTIONS.
AND IN THE INTEREST OF TIME, WE'RE GONNA INVITE HIM UP AND, UH, LET YOU GUYS PEPPER HIM WITH YOUR QUESTIONS.
JUST TO PUT A NOTE ON THE PALLADIUM REDBIRD DEVELOPMENT THAT THE HFC PARTNERED WITH AT THE REDBIRD MALL REDEVELOPMENT, UH, THAT LEASED UP JUST INSANELY FAST.
I DON'T HAVE THE ACTUAL FIGURES ON IT, BUT IT'S 99% LEASE, AND THAT 1% IS BASICALLY JUST, YOU KNOW, YOUR STANDARD TURNOVER.
BUT, UM, THE DEMAND WAS, WAS SO INCREDIBLE THAT I THINK, UH, IT, IT POINTS TO THE FACT THAT WE, WE NEED MORE HOUSING IN THIS AREA.
MORE PEOPLE WANNA LIVE THERE, THERE'S JOBS BEING CREATED.
SO, AND IT WAS JUST, IT WAS ALSO OUTLINED IN OUR COMPREHENSIVE HOUSING POLICY THAT WE DO NEED TO, UH, USE THIS AREA AS A STABILIZATION TO MAKE SURE THAT, UH, DISPLACEMENT DOESN'T OCCUR.
SO, JUST WANTED TO PUT NOTES AS TO WHY THE, THE REINVESTMENT STRATEGY AREA ON THERE AND WHAT'S GOING ON AT PALLADIUM REDBIRD, ALMOST TO BRAG A LITTLE BIT ABOUT HOW GREAT THE, OUR, OUR PROJECT IS AT THE REDBIRD MALL REDEVELOPMENT.
BUT, UH, QUESTIONS ARE WELCOME.
I THINK FOR THE MOST PART, WE'RE ALL PRETTY FAMILIAR WITH PALLADIUM REDBIRD.
IT WOULD HELP ME IF WE COULD UNDERSTAND HOW THIS WOULD BE DIFFERENT FROM THAT PROJECT.
UH, WELL, THE, THE TWO PROJECTS ARE, ARE NOT TECHNICALLY CONNECTED.
UM, WE'RE A SEPARATE DEVELOPER ACQUIRED A SEPARATE SITE JUST IN, IN THAT REDEVELOPMENT AREA.
SO THIS IS JUST AN ANOTHER DEVELOPMENT IN THAT GENERAL AREA.
IT WOULD BE A MIXED INCOME MULTIFAMILY SITE.
ARE YOU OFFERING ANY DIFFERENT AMENITIES TO THE COMMUNITY OR TARGETING ANY VOUCHER USERS IN PARTICULAR? UM, WE ALWAYS, UM, ENCOURAGE VOUCHER USERS TO, TO OUR SITES.
UM, WE DON'T HAVE ANY SPECIFIC TARGETING IN PLACE SPECIFICALLY FOR VOUCHERS.
UM, WE HAVEN'T HAD ANY CONVERSATIONS WITH THE HOUSING AUTHORITY IN, IN THAT REGARD.
UM, BUT WE WILL HAVE KIND OF OUR BASE PACKAGE OF WHAT WE CALL OUR LUXURY AMENITIES FOR OUR SITE.
IT WON'T BE COMMUNITY BASED, MOST OF OUR AMENITIES, BUT, UM, IT, WE WILL PROVIDE THOSE AMENITIES TO OUR TENANTS.
I WOULD LIKE TO ACTUALLY CHALLENGE YOU ON THE LUXURY AMENITIES AND DIGGING INTO WHAT WOULD REALLY HELP THE COMMUNITY.
MAYBE DAYCARE, ANY TYPE OF LIKE, SERVICES NEEDED FOR THE ELDERLY OR DISABLED.
I DON'T WANNA JUST LIKE RUBBER STAMP ANOTHER AFFORDABLE PROJECT MM-HMM.
I WOULD REALLY LIKE TO MAKE SURE THAT IT'S ADDING VALUE.
IT ISN'T JUST A CARBON COPY OF SOMETHING WE'VE ALREADY GOT.
UM, I, I, I SEE WHAT YOU'RE ASKING NOW.
AND THIS, THIS SITE IS, IS A LOT DIFFERENT FROM THE PALLADIUM SITE BECAUSE IT, IT'S JUST A SMALLER MULTIFAMILY SITE.
[02:00:01]
KIND OF A DIMINISHING AMOUNT OF LAND AVAILABLE FOR THESE TYPES OF, UM, SITES.SO, BUT AS FAR AS THE AMENITIES SIDE, UM, OUR, OUR SITE REALLY IS JUST TOO SMALL TO BUILD ANY SORT OF LARGE PUBLIC FACILITIES AT THE SITE AND TO BE ABLE TO CREATE THE, THE NEEDED MULTIFAMILY HOUSING.
UM, AS FAR AS WHAT WE WILL PROVIDE TO OUR TENANTS AT THE PROPERTY, I MEAN, WE HAVE, UM, EDUCATION PROGRAMS. WE, WE PROVIDE SERVICE PROVIDERS ON SITE FOR TWO TO THREE TIMES A WEEK FOR CLASSES FOR RESIDENTS.
UM, DEPENDING ON THE PARTICULAR TENANTS OF THAT PROPERTY, WE WILL HAVE, UM, AMENITIES SPECIFICALLY FOR THE ELDERLY, LIKE CLASSES AND THINGS LIKE THAT.
BUT AS, UM, FAR AS THIS SITE, IT, IT, IT'S NOT TARGETED TO THE ELDERLY.
SO IT WOULD KIND OF DEPEND ON HOW THAT MIX OF THE POPULATION WAS ON WHETHER OR NOT THERE WOULD BE ELDERLY SPECIFIC AMENITIES THERE.
WHAT'S THE INCOME MEDIAN HOUSEHOLD INCOME, UH, IN THIS AREA, BECAUSE BEING IN DISTRICT THREE AND CONSTANTLY GOING TO THESE MEETINGS, THEY'RE JUST BEGGING FOR MORE OWNER OCCUPANCY TYPE, UM, OR THINGS THAT THEY CAN OWN AS OPPOSED TO JUST RENT OUT MM-HMM.
CAUSE THAT'S WHAT WE'RE SEVERELY LACKING, UM, IN THIS AREA.
AND EVEN, YOU KNOW, LOOKING AT THE HOUSES THAT DO GO UP HERE, THEY'RE GONE WITHIN DAYS, UM, OFF THE MARKET.
UM, SO I GUESS BASED ON THE MEDIAN HOUSEHOLD INCOME, WHAT, WHAT IS THAT IN THIS AREA? IN DISTRICT THREE? I, I DON'T HAVE THOSE EXACT NUMBERS ON WHAT THE, FOR THAT SPECIFIC DISTRICT.
I KNOW THAT THE, THE TARGET FOR THIS PARTICULAR PROPERTY IS 60% A MAMI FOR OUR UNITS, WHICH IS, UM, ROUGHLY $36,000 A YEAR FOR, FOR AN INDIVIDUAL.
UM, SO IT'S, IT, IT'S ALSO, UH, I HEARD YOU SPEAK TOWARDS THE OWNER OCCUPIED, UM, TYPE UNIT TYPES AND THIS SPECIFIC SITE, UM, I, I DON'T FEEL WOULD REALLY BE SUITED FOR OWNER OCCUPANCY JUST BECAUSE IT'S, IT IS A VERY TIGHT SITE.
IT'S, IT'S MORE OF A KIND OF SMALL MULTIFAMILY SITE, IN MY OPINION.
AND WE'RE, WE'RE ALSO NOT A, A SINGLE FAMILY DEVELOPER, SO THAT'S, THAT'S NOT REALLY OUR AREA OF EXPERTISE.
SO I, I WOULDN'T REALLY WANNA SPEAK ON IT TOO MUCH.
UM, I JUST KNOW WHAT OUR COMMUNITY HAS BEEN BEGGING FOR.
UM, AND EVEN WITH THE 301 UNIT, EVEN IF YOU MULTIPLY THAT BY, YOU KNOW, A TWO PERSON, EVEN THREE PERSON FAMILY, THAT'S A GREAT AMOUNT OF DENSITY IN THAT SMALL SPACE THAT YOU'RE REFERRING TO.
SO, UM, EVEN GIVEN LIKE THE HIGH SCHOOLS THAT'S THERE, DUNCANVILLE HIGH SCHOOL, CANER MIDDLE SCHOOL, UM, A LOT OF FOLKS WILL FALL OUT OF THAT $36,000 RANGE.
UM, THE UNIVERSITY NOT BEING TOO FAR FROM IT WHERE I AM, UM, I'M, I'M JUST SEEING HOW THE NUMBERS ADD UP.
YEAH, AND, AND JUST TO KIND OF SPEAK, SPEAK TO THAT, I MEAN, THIS, THIS SITE DOES LEND ITSELF AND THE DEVELOPER THAT WE HAVE AND, AND THE, THE PROGRAMS SUCH THE WAY THAT THEY ARE DOES LEND ITSELF TO BEING A, A RENTAL DEVELOPMENT HERE AT THIS SITE.
BUT I'M HOPING, UH, THAT OUR NEW, UH, INVESTMENT INTO FOR SALE HOUSING CAN ALSO SPUR AND GIVE US THE OPPORTUNITY.
CUZ RIGHT NOW, AS IT STANDS, WE CAN'T DO, THERE'S NOTHING IN OUR PROGRAMS THAT REALLY BEYOND OUR, YOU KNOW, ISSUANCE OF BONDS FOR, UH, FIRST TIME HOME BUYERS THROUGH THE MORTGAGE PROGRAM, THROUGH T D H C A, WE HAVE, WE HAVE THAT UNDERWAY, TRYING TO GET THAT SET UP, BUT THEN ALSO, UH, OUR ACTUAL INVESTMENT IN, IN FUNDING FOR, FOR SALE HOUSING, HOPEFULLY WE CAN, WE CAN PROVIDE A MORE DIVERSE ARRAY OF, OF HOUSING TYPES, BECAUSE I CERTAINLY HAVE HEARD THE COMMUNITY AS WELL.
AND I THINK THAT'S WHY THIS, THIS BODY HAS ALLOCATED 5 MILLION RIGHT NOW TO DO, UH, FOR SALE HOUSING.
BUT, UM, YOU KNOW, I DON'T THINK THAT SHOULD PRECLUDE US FROM BEING ABLE TO DO, UH, MULTI-FAMILY AT, AT, UH, A OF A, A FAIRLY BUSY INTERSECTION WITH TRANSIT TO CITY REINVESTMENT IN, UH, LIKE THE REDBIRD MALL AREA, THE, THE OTHER, OTHER, OTHER, I THINK THE, THE, THE POLICE ACADEMY IS ACTUALLY RIGHT AROUND HERE AS WELL.
SO, UM, I JUST WANTED TO, I JUST WANTED TO POINT OUT THAT WE DO, I MEAN, WE, WE DO HAVE OTHER OP OPTIONS AND OPPORTUNITIES.
UM, NOT SAYING THAT IT SHOULD BE EXCLUDED FOR THAT REASON, BUT I THINK THEY CRUNCHED THE NUMBERS AND THEY WERE JUST COMPLAINING THAT THERE'S ALREADY 14 OF THESE LI 10 AREAS SINCE 2019.
SO I DON'T KNOW HOW MANY SINCE THEN.
UM, LIKE 20, 20, 20 21, I'VE ASKED FOR THOSE NUMBERS.
UM, SO I JUST THINK THEY'RE CONCERNED.
DISTRICT THREE, I CAN ONLY SPEAK FROM THE MEETINGS THAT I ATTEND AND THE OPINION MEMBERS THAT I SPEAK TO.
UM, THEY'RE JUST CONCERNED ABOUT THE SATURATION AND JUST, AGAIN, BEGGING FOR MORE OF THESE, UM, OWNER OCCUPIED UNITS.
[02:05:09]
UH, I, I DO KNOW THAT SCHOOLS HAS BEEN, UM, KIND OF A TOPIC THAT A LOT OF, UM, YOU HAVE BEEN INTERESTED IN.AND THIS PARTICULAR SITE, EVEN THOUGH IT IS IN THE CITY OF DALLAS, IT'S ACTUALLY ZONED TO DUNCANVILLE I S D.
SO THE, THE SCHOOLS THAT IT, IT WOULD BE ZONED TO ARE ALL RATED IN, IN THE LAST RATING TIME WHEN THEY DID IT BEFORE COVID 2019, WERE RATED AT B SCHOOLS BY THE, THE TA'S NEW RATING SYSTEM.
UM, AND, AND WE'RE IMPROVING FROM THEIR PREVIOUS SCORE.
THEY, THEY WENT FROM A 73, I THINK TWO AND 86, UM, FOR THE DUNCANVILLE DIOCESE.
SO IT, IT IS ZONED TO SOME, SOME GREAT SCHOOLS.
UM, LET'S, UH, AGAIN, I DON'T SEE ANY HANDS RAISED, BUT DID, DOES ANYONE ELSE ON THE BOARD HAVE ANY COMMENTS OR QUESTIONS BEFORE WE, UM, MOVE, MOVE ON TO A VOTE? I GUESS? UM, I HAD MY HAND RAISED.
I JUST, UH, WAS CURIOUS ABOUT THE REZONING.
UM, I GUESS IT'S ZONED INDUSTRIAL RIGHT NOW, RIGHT? IT IS, IT'S KIND OF, UM, THE LAST PIECE OF LAND IN THAT AREA THAT, THAT HASN'T KIND OF GONE THROUGH THE REZONING PROCESS.
WE, WE'VE STARTED THAT PROCESS AND ZONING AND PERMITTING IS ONGOING, BUT, UM, WE, WE'VE GOT OUR TIMELINE LINED UP TO WHERE IF, IF WE ARE LUCKY ENOUGH TO GET A GOOD LOTTERY NUMBER COME NOVEMBER, THAT EVERYTHING SHOULD LINE UP AND WE SHOULD BE ABLE TO CLOSE WITHIN THE 180 DAYS.
AND I DON'T, I, LOOKING ON GOOGLE
THERE, THERE'S NOT REALLY ANYTHING IN THAT AREA THAT'S LEFT LIKE THAT.
AND, UH, WE'RE ACTUALLY COM SHARE A PROPERTY LINE WITH BLUEBIRD PARK, WHICH IS A, A CITY OF DALLAS OWNED PARK, WHICH IS PREDOMINANTLY JUST OPEN SPACE, BUT IT'S, IT'S A NICE AREA THERE.
IT'S, I THINK THAT ONE AND A HALF TO TWO ACRE PARK THERE.
UM, I'LL ASK YOU THE SAME QUESTION THAT I HAD ASKED L D G.
UM, DOES THIS DEAL WORK WITHOUT US BEING A PARTNER IN THE DEAL? NO, IT DOESN'T.
SO WE, WE DO HAVE A POTENTIAL, ANOTHER BITE AT THE APPLE AFTER THE LOTTERY OCCURS TO CHANGE ANYTHING THAT'S NEEDED.
ALL, ANY, WE'RE A LITTLE OVER 10 MINUTES NOW.
ANY, UM, QUESTIONS OR COMMENTS FROM ANYONE BEFORE WE MOVE TO A VOTE? UH, OKAY.
UH, DO WE HAVE ANY MOTIONS ON THE FLOOR? I'LL MOVE TO APPROVE.
DO WE HAVE A SECOND? I'LL MOVE TO APPROVE.
UM, WE'LL DO JUST A, A QUICK VOICE VOTE.
ALL IN FAVOR OF THIS INITIAL INDUCEMENT, PLEASE SAY AYE.
I WILL CALL DIVISION AND WE'LL GO THROUGH A ROLL CALL VOTE.
UH, TREASURER MARTINEZ? NO, UM, IT'S NOT.
LOOKS LIKE DIRECTOR PAGE IS GONE.
UM, I WILL ASK A QUICK QUESTION.
UM, I, WHAT WERE, WHAT WERE THE VOTES? AARON AND OR KYLE
IT LOOKS LIKE THAT ONE DOES NOT PASS.
AND WE WILL MOVE ON TO ITEM NUMBER 10.
AGAIN, THANK, THANK YOU ALL FOR STICKING WITH US.
WE WANNA MAKE SURE WE GET THESE INDUCEMENTS DONE.
SO IF YOU CAN HOLD ON JUST A LITTLE BIT LONGER, THAT'D BE TREMENDOUS HELP TO ALL, EVERYONE WE HAVE HERE TODAY.
NUMBER 10, CONSIDERATION AND IMPOSSIBLE ADOPTION OF A RESOLUTION DECLARING INTENT TO ISSUE BONDS FOR A LOAN TO TX FERGUSON 2022 L T D TO PROVIDE FINANCING FOR A MULTI-FAMILY RESIDENTIAL RENTAL DEVELOPMENT FOR PERSONS OF LOW AND MODERATE INCOME ESTATES AT FERGUSON.
LOCATED AT 92 20 FERGUSON ROAD IN AN AGGREGATE PRINCIPLE AMOUNT NOT TO EXCEED 25 MILLION, AUTHORIZING THE FILING OF AN APPLICATION FOR ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD, AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT.
[02:10:02]
ALL RIGHT.SO THIS IS AT 92 20 FERGUSON ROAD IN DISTRICT SEVEN.
UM, 16 WILL BE AT 50% A M I 148 AT 60%.
UH, TOTAL DEVELOPMENT COSTS WILL BE 36.8 MILLION.
UM, IT SHOULD BE NOTED THAT THIS IS A SENIORS FOCUSED HOUSING PROJECT.
SO WE CURRENTLY ACROSS THE CITY, WE, WE ARE IN A DESPERATE SHORTAGE OF ALL SENIORS HOUSING.
UM, SO HOPEFULLY THIS WILL PROVIDE SOME VERY MUCH NEEDED SENIOR FOCUSED RESIDENT SERVICES AND COMMUNITY SPACES.
UM, IT IS ALSO TO BE NOTED THAT THIS LOCATION IS QUITE FAVORABLE WITHIN A BLOCK OF BUCKNER AT FERGUSON, AND THEY HAVE BUS STOPS DIRECTLY IN FRONT OF THE PROPERTY.
IT'S ALSO DIRECTLY IN FRONT OF THE WHITE ROCK HILLS LIBRARY.
UM, SO THAT IS SOME EXCELLENT SERVICES FOR THE, UH, THE SENIORS FOCUS, UM, POPULATION THERE THAT THEY'RE TRYING TO SERVE.
SO I THINK, UH, CHRIS QUIST FROM GENERATION HOUSING IS HERE, UM, AND HE CAN ANSWER ANY QUESTIONS UNLESS KYLE HAS SOMETHING ELSE TO ADD RIGHT NOW.
UH, WE HAVE HAD A REQUEST TO MAKE AN AMENDMENT TO INCREASE THE, THE BOND AMOUNT JUST BASED ON, UH, THE BOND MARKET ITSELF, INTEREST RATES, CONSTRUCTION COSTS.
UM, AND, UH, IF I COULD ASK FOR THE MOTION NOW SO THAT WE ALL KNOW WHAT IT IS.
I THINK DIRECTOR ELLIS, YOU'RE, YOU'RE TEED UP ALSO.
SEVERAL, UH, BOARD MEMBERS HAVE MENTIONED THAT THEY DO HAVE SOME HARD STOPS AT TWO.
SO IF WE COULD TRY TO GET THROUGH THIS ONE, UH, QUICKLY, THAT'D BE HELPFUL.
WELL THEN I'LL, I, ME SEE IF I WORD THIS RIGHT? I WILL MOVE, UH, TO PROVE AGENDA NINE, NUMBER 10 WITH THE, WITH THE ADJUSTMENT TO NOT EXCEED FOR THE BONDS, NOT TO EXCEED 35 MILLION.
UM, LET'S OPEN IT UP FOR DEBATE THEN.
UM, I HAD A QUESTION, UH, ABOUT THE ZONING ON THIS ONE.
DOES THIS ONE NEED REZONING? I'LL ASK CHRIS AQUIS FROM GENERATION HOUSING TO ANSWER.
UH, THANK YOU FOR YOUR TIME TODAY.
UH, YES, IT DOES REQUIRE ZONING.
WE'RE WORKING WITH, UH, BALDWIN ASSOCIATES RIGHT NOW, AS WELL AS FERGUSON ROAD INITIATIVE TO GARNER SUPPORT, UH, PRIOR TO GONNA CPC, BUT IT WILL NEED TO BE REZONED.
UM, I KNOW WE'VE WORKED WITH Y'ALL ON OTHER PROJECTS.
CAN YOU REMIND ME WHAT THOSE ARE?
UH, SO STATES AT SHILOH, WHICH IS ANOTHER SENIOR LIVING DEVELOPMENT, UH, IN EAST DALLAS.
UH, AND THEN WESTMORELAND STATION, WHICH IS THE T O D DEVELOPMENT THAT WE PARTNERED ON, WHICH IS 248 UNITS RIGHT NEXT TO, UH, WESTMORELAND STATION.
UM, I'M NOT SEEING ANY HANDS UP.
UM, DOES ANYONE HAVE ANY KIND OF QUESTIONS, COMMENTS, UM, FOR THE DEVELOPER? OKAY.
WE HAVE A MOTION ON THE FLOOR.
UM, LET'S MOVE RIGHT INTO A, UH, ROLL CALL VOTE THEN.
UH, PRESIDENT HELLAND? YES, I'LL VOTE YES.
AND NOW WE WILL MOVE ON TO, UM, THANK YOU VERY MUCH.
THIS IS A CRITICAL ONE, CORRECT? UH, WITH THE BRISCO Y UH, YEAH.
UM, THIS IS ITEM NUMBER 11 IS, IS TO CREATE THE ENTITY FOR US TO, UH, MOVE FORWARD WITH THE BRISCO TRANSACTION AND ACQUISITION.
UM, SO THIS JUST APPROVES US CREATING THAT LLC ENTITY THERE, BUT THAT'S JUST PART OF THE PROCESS THAT WE HAVE TO DO.
UH, WE'LL BE COMING BACK WITH DEFINITIVE AND FINAL BOND DOCUMENTS, UH, LATER, UH, IN OCTOBER.
UM, I KNOW THERE WAS SOME, A QUICK, ANY WORD AMENDMENTS WE NEED TO MAKE TO THIS ITEM? I THINK YOU GOTTA READ IT INTO THE RECORD FIRST.
UH, CONSIDERATION AND ADOPTION.
[02:15:01]
THE CREATION OF A LIMITED LIABILITY COMPANY WITH A CORPORATION, A SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED D H F C, THE BRISCO APARTMENTS, L L C FOR PURPOSES OF FINANCING, DEVELOPING, OWNING, AND OPERATING THE BRISCOE AND APPROVING ALL NECESSARY ACTIONS IN CONNECTION.THEREWITH, UM, I KNOW THERE WAS AN EMAIL KIND OF CHANGING THE RECORDING OF THIS.
AND PRESIDENT HEIN, ARE YOU STILL WITH US? YES,
UM, SO, UH, UM, THE RESOLUTION HAS BEEN AMENDED, AND SO I WOULD LIKE TO, UM, PROPOSE THAT WE VOTE ON THE AMENDED RESOLUTION.
UM, THERE WERE A COUPLE THINGS THAT REFERRED TO US HAVING REVIEWED THE ACTUAL DOCUMENT, WHICH HASN'T BEEN PREPARED YET.
UM, AND IT ALSO, UH, REFERENCED THE OFFICERS, WHICH HAVE NOW BEEN CHANGED.
SO, UM, SO I JUST, UH, WOULD MOVE THAT WE VOTE ON THE AMENDED RESOLUTION.
UM, DO WE HAVE ANY COMMENTS, QUESTIONS, OR MOTIONS ON THE FLOOR? WE NEED A SECOND.
DO WE HAVE A SECOND? DO LEWIS? I'LL SECOND.
ALL THOSE IN FAVOR? UH, PLEASE SAY AYE.
HEARING NONE, IT LOOKS LIKE THAT ONE PASSES.
OH, YOU, UM, THIS IS DIRECTOR LIGHT BURN.
OKAY, NOW WE'LL MOVE ON TO ITEM NUMBER 12, DISCUSSION AND POSSIBLE APPROVAL OF AN AMENDMENT TO THE FUND LOAN AGREEMENT RELATING TO THE CITY OF DALLAS HOUSING FINANCE CORPORATION, MULTIFAMILY HOUSING REVENUE, REVENUE NOTE GATEWAY, OAK CLIFF SERIES 2021 A AND SERIES 2021 B.
YEAH, THIS, THIS IS SOLELY KIND OF A PROCEDURAL THING.
UM, THE GATEWAY, OAK CLIFF BONDS THAT WE ISSUED, UM, THEY'RE JUST THE LENDERS.
CITIBANK, I BELIEVE, IS TRYING TO, UH, PACKAGE THEM SO THAT THEY CAN, UH, SO THAT THEY CAN, UH, PACKAGE THEM FOR FOR YEAH.
IF GEORGE RODRIGUEZ, IF YOU'RE THERE, CAN YOU QUICK GIVE A BRIEF, EXTREMELY BRIEF UPDATE ON WHAT IS ACTUALLY OCCURRING HERE? THIS IS, IT'S, IT'S, IT'S CHANGING THE FUNDING.
THAT WAS THE WORD I WAS LOOKING FOR.
WHAT'S THAT EXACTLY? IT'S, IT'S TO FACILITATE SECURITIZATION BY CITIBANK, AND IT'S CONSISTENT WITH WHAT THEY'RE INCLUDING IN ALL OF THEIR NEW DEALS.
THIS IS JUST A CHANGE THAT CITIBANK HAS MADE IN THEIR GOING THROUGH ALL OF THEIR OLD DEALS AND TRYING TO CONFORM THE PRIOR DEALS TO WHAT THEIR NEW STANDARD IS.
AND GEORGE, THE, THE NEW STANDARD IS, IS, IS WHAT IS PART OF THEIR WELL, IT'S, IT'S JUST THAT, FOR INSTANCE, IT ADDS GOVERNMENTAL ENTITIES INTO THAT.
AND, AND FROM, FROM A LEGAL PERSPECTIVE, IT DOESN'T INCREASE ANY EXPOSURE TO THE HSC.
IF, IF SOMEONE FROM HILLTOP IS ON, THEY CAN SPEAK FROM A FINANCIAL STANDPOINT.
BUT, UM, IT'S, THERE'S REALLY NO RISK AS FAR AS I CAN SEE FROM THE HSC STANDPOINT.
I, I WOULD CONCUR THAT FROM A FINANCIAL STANDPOINT, NO, NO ADDITIONAL EXPOSURE, UH, FOR THE HSC.
UM, HEARING ALL THAT, DO WE HAVE ANY MOTIONS ON THE FLOOR? WE'LL MAKE A MOTION THAT WE, UH, APPROVE THIS, UH, THIS AMENDMENT TO THE FUNDING LOAN AGREEMENT.
DO WE HAVE A SECOND? NEWARK LEWIS? I'LL SECOND THANK YOU.
ALL THOSE IN FAVOR, PLEASE SAY AYE.
ALL THOSE OPPOSED? OH, THANK YOU.
UM, ALL THOSE OPPOSED, PLEASE SAY NAY.
HEARING NONE, THAT ITEM PASSES.
UM, IT LOOKS LIKE ITEM NUMBER 13 IS A BRIEFING, SO I'M GONNA REQUEST THAT WE CAN, WE CAN, YEAH.
WE'LL, WE'LL, I WOULD ASK THAT EVERYBODY TAKE A LOOK AT THE NEW NOFA THAT HAS BEEN PROVIDED IN YOUR BOARD PACKET FOR OUR SINGLE OR FOR SALE, UH, DEVELOPMENT PROGRAM.
UH, WE ADDED, UH, BOARD RECOMMENDATIONS FROM OUR AUGUST MEETING, UH, TAKE A LOOK AT THAT.
WE WILL BRING THIS BACK FOR FINAL APPROVAL OF THE BOARD, UH, IN IN OCTOBER, BECAUSE I REALLY WANT TO GET THIS THING GOING BECAUSE WE NEED TO, UH, ALLOCATE OUR FUNDS, UH, TO, FOR SALE HOUSING OPPORTUNITIES THROUGHOUT THE CITY.
UH, AND IT'S, IT'S, I KNOW IT'S A, A PRIORITY OF THIS BOARD.
IT'S ALSO A PRIORITY OF THE CITY, UH, AND STAFF.
IF ANYBODY HAS ANY COMMENTS OR SUGGESTIONS, WE'RE OPEN FOR 'EM.
[02:20:01]
I'LL TURN THIS BACK OVER TO, UH, VICE PRESIDENT GARCIA TO, UH, GET US OUT HERE.THANK, UH, UNLESS THERE'S ANY BURNING, BURNING COMMENTS, I'M GONNA ADJOURN RIGHT NOW.
SO, UH, DID WE CHANGE THE DATE OF THE OCTOBER MEETING OR NOT? YES, NOT, NOT OFFICIALLY.
NOT OFFICIALLY, BUT I'VE, WE ARE PLANNING ON THE 13TH.
I FIND THIS, UH, LAST ITEM IN THE PACKET.
WHAT PAGE? I AM NOT SURE WHICH PAGE IN THE PACKET.
UH, IT, I WILL BE, IT WOULD BE THE LAST, IT WOULD BE THE LAST ITEM.
I DON'T KNOW THE PAGE NUMBER THOUGH.
I, I'LL, I'LL LOOK AT THE LAST ITEM.
UM, THANK YOU FOR THE UPDATE ON THE DATE.
ANYTHING ELSE? THANK YOU EVERYONE FOR, FOR, FOR A MARATHON MEETING.
UM, OTHER THAN THAT, I WILL CALL THIS MEETING ADJOURNED.