[00:00:01]
[ Public Facility Corporation Meeting on August 22, 2023]
AFTERNOON.MY NAME IS KEITH KO, PRESIDENT OF THE DALLAS PUBLIC FACILITIES CORPORATION.
EXACTLY AT 12 NOON, I WOULD LIKE TO CALL THE CITY OF DALLAS PUBLIC FACILITIES CORPORATION BOARD OF DIRECTORS REGULAR MEETING.
AUGUST 22ND, 2023 AT 12 NOON TO ORDER, UH, ROLL CALL PLEASE.
WE HAVE SCOTT COUNCIL PRESENT.
UH, DIRECTOR STINSON, PRESENT.
PRESENT, UH, DIRECTOR OR VICE PRESIDENT? MONTGOMERY.
UH, PRESIDENT
DOES THE RECORD REFLECT THAT WE DO HAVE A QUORUM.
UH, ITEM NUMBER THREE, PUBLIC TESTIMONY.
DO WE HAVE ANY PUBLIC COMMENTS ON ITEMS FOUR THROUGH NINE? ANY REGISTERED SPEAKERS? NONE.
AND NONE ONLINE EITHER, I ASSUME? YES.
MOVING ON TO ITEM NUMBER FOUR, DISCUSSION AND APPROVAL OF THE MINUTES FOR THE JUNE 27TH, 2023.
CITY OF DALLAS PUBLIC FACILITIES CORPORATION.
SECOND, WE HAVE A MOTION FROM DIRECTOR CALLUS TO APPROVAL.
ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE.
ANY OPPOSED? THE MINUTES ARE APPROVED.
ITEM NUMBER FIVE, DISCUSSION AND APPROVAL OF A RESOLUTION AUTHORIZING THE NEGOTIATION AND EXECUTION OF A TERM SHEET FOR DAN FLATS IN PARTNERSHIP WITH BISHOP ARTS JV, L L C TO BE LOCATED AT 2020 NORTH BECKLEY AVENUE, DALLAS, TEXAS.
AARON? YES, WE HAVE, UH, MR. CAMERON CREW HERE FROM
SO THEY HAVE A PRESENTATION FOR YOU ALL AND, UH, INVITE HIM TO COME UP TO THE PODIUM AND RAISE US WITH HIS PRESENCE HERE.
MAKE SURE THAT MICROPHONE'S ON YES, YES.
GOOD AFTERNOON, MR. CHAIR AND MEMBERS OF THE BOARD.
MY NAME IS CAMERON CRU WITH BANYAN RESIDENTIAL.
I HAVE TODAY WITH ME, PHIL BRASO ON THE BANYAN SIDE, AS WELL AS ANGELA HUNT AND MAX REMAN CALLING IN ON OUR WEBEX.
BEFORE STARTING OUR PRESENTATION, I WANTED TO GIVE A QUICK BACKGROUND ON BANDON RESIDENTIAL.
WE STARTED IN 2019, UH, WITH OFFICES IN LA AND THE HOUSTON AREA.
WE HAVE, UH, 5,000 UNITS, UH, ACROSS THE SUNBELT MARKETS, INCLUDING TWO DALLAS PROJECTS, ONE OF WHICH IS BANNING FLATS, AND ANOTHER ONE ON NORTH BECKLEY AVENUE, WHICH IS ARCHIVE APARTMENTS, ROUGHLY 280 UNITS.
UH, NOW DIVING INTO, UH, BANNING FLATS, UH, BACKGROUND AND, AND PROPERTY LEVEL INFORMATION.
UM, JACQUELINE LAKE SLIDE, PLEASE.
SO, UH, BANDING FLATS IS A, IT IS LOCATED ON 3.71 ACRES IN AN OPPORTUNITY ZONE, UH, ON NORTH BECKLEY AVENUE, JUST SOUTH OF I 30.
UH, WE'RE DEVELOPING 289 UNITS, UH, CONTAINING 386 A GARAGE CONTAINING 386 PARKING SPOTS.
WE CLOSED ON THE LAND IN DECEMBER OF 2020, AND
[00:05:01]
COMMENCE CONSTRUCTION IN, UH, FEBRUARY OF 2022, AND EXPECT CONSTRUCTION TO BE COMPLETE IN JUNE OR JULY OF, UH, 2024.SO HERE'S A, A QUICK VISUAL, UH, OF WHERE THE SITE IS LOCATED.
IT IS, UH, WELL LOCATED TO THIS C COMMUNITY AND CITY'S AMENITIES, AND WE'LL DIVE A LITTLE BIT DEEPER INTO, UH, THE NEXT SLIDE.
UH, SO, UH, THE, THE BISHOP ARTS DISTRICT, WHERE THE PROJECT IS LOCATED, HAS SEEN SIGNIFICANT CHANGES IN THE LAST DECADE, SIGNIFICANT DEVELOPMENT ON THE MULTIFAMILY SIDE, AND, UH, WITH SIGNIFICANT DEVELOPMENT, WE'VE SEEN RISING RENTS AND RISING SUPPLY.
AND THE REALITY IS, IS THAT THERE HASN'T BEEN TOO MUCH WORKFORCE HOUSING DEVELOPMENT, UH, IN THE LAST DECADE WITH THE AMOUNT OF, UH, CHANGING IN THE BISHOP ARTS DISTRICT.
THIS IS A WELL LOCATED SITE JUST SOUTH OF I 30 AS MENTIONED, AND, UH, DIRECT ACCESS TO, UH, SOME OF THE MAJOR EMPLOYMENT HUBS HERE IN DALLAS, INCLUDING DOWNTOWN DALLAS.
AND ALSO PROVIDES, UM, EASY, UH, TRANSPORTATION ACCESS ON THE PUBLIC, UH, UH, FROM A PUBLIC TRANSPORT PERSPECTIVE, GIVEN THAT IT'S CONNECTED TO THE DART WITH A NUMBER OF BUS LINES AND LIGHT, LIGHT SERVICE OR LIGHT RAIL SERVICE STATIONS, UM, NEARBY.
UM, IN ADDITION, THIS IS A CLASS A PROJECT.
SO WE'LL HAVE, UH, STANDARD, UH, CLASS A AMENITIES SUCH AS LARGE WINDOWS, LARGE KITCHEN ISLANDS, WOOD STYLE, UH, FLOORS.
AND THEN THE COMMUNITY WILL INCLUDE, UH, UH, BEST IN CLASS GYM, POOL, UM, AND, AND ENTERTAINMENT AND LEASING CENTERS.
SO HERE'S A, A QUICK SNAPSHOT OF OF THE UNIT MIX.
WE HAVE A TOTAL OF 289 UNITS, 144 OF WHICH ARE MARKET RATE UNITS, UH, AS WELL AS 80 115 THAT ARE 80% A M I UNITS, AND, UH, 30 THAT ARE 40, UH, THAT ARE 60% A M I UNITS.
HERE'S A, A QUICK SNAPSHOT OF THE SOURCE AND USES BUDGET.
OUR, UH, EQUITY PARTNER IS BRIDGE INVESTMENT GROUP ON THIS PROJECT, AND OUR DEBT IS, UM, UH, JP MORGAN.
SO ONE OF THE MOST IMPORTANT PARTS, UH, ABOUT THIS PROCESS IS, IS TALKING TO THE NEIGHBORHOOD AND PHIL BROSSA WITH ME, UH, SPEARHEADED THESE CONVERSATIONS SO WE WE CAN GET INTO MORE DEPTH ON, UH, EXACTLY WHAT THOSE CONVERSATIONS WERE.
BUT, UH, WHEN WE STARTED THIS, THIS CONVERSATION WITH THE NEIGHBORHOOD, THE NEIGHBORHOOD WAS NOT INITIALLY SUPPORTIVE, UH, BANNING FLATS.
AND THAT WAS DUE TO, UH, THE FACT THAT THERE WAS A CONFUSION BETWEEN WORKFORCE HOUSING AND THE MISSION OF THE PS P F C AND, UH, SECTION EIGHT HOUSING OR, UH, VOUCHER HOUSING.
AND SO IN TURN, WE MET WITH, UH, SEVERAL OF THE ACTIVE COMMUNITY MEMBERS, INCLUDING THE EAST KESLER PARK NEIGHBORHOOD ASSOCIATION TO EXPLAIN THE DIFFERENCES.
UH, AND WE ALSO MET WITH METHODIST HOSPITAL, WHICH IS NEARBY OUR SITE.
UH, AND SO, UH, THE NEIGHBORHOOD NOW UNDERSTANDS, UH, THE, THE, THE NEIGHBORHOOD NOW UNDERSTANDS THE IMPORTANCE, UH, OF, OF WORKFORCE HOUSING.
UM, SO WITH THAT, BETWEEN 2014 AND 2013, WE'VE SEEN IN THE BISHOP ARTS DISTRICT FOR SPECIFICALLY THE CENSUS TRACK, WE'VE SEEN A THOUSAND, ROUGHLY 1,200 MARKET RATE UNITS THAT HAVE BEEN DEVELOPED.
NOW 110 AFFORDABLE WORKFORCE HOUSING UNITS EXIST IN THIS, UH, IN THE CENSUS TRACK.
AND ONLY 34 OF THAT 110 HAS BEEN DEVELOPED SINCE 2014.
BANNING FLATS WILL DOUBLE THAT NUMBER WITH 145 WORKFORCE HOUSING UNITS IN AN AREA THAT NEEDS IT WITH THE METHOD.
THE METHODIST HOSPITAL, FOR EXAMPLE, HAS 200 JOB OPENINGS AND, UH, THAT, THAT WOULD BE A GREAT CANDIDATE FOR SOME OF OUR TENANTS HERE AT, AT BANNING FLATS.
HERE'S A, HERE'S JUST A QUICK VISUAL OF EXACTLY THE, THE DIRE SITUATION WHEN IT COMES TO WORKFORCE HOUSING IN THIS AREA.
AS YOU CAN SEE ON THE LEFT HAND SIDE, WE HAVE, UH, THE COMPARISON BETWEEN THE CURRENT AFFORDABLE UNITS AND THE CURRENT MARKET RATE UNITS.
ON THE RIGHT HAND SIDE, YOU HAVE, UH, THE AFFORDABLE UNITS, UM, ON THE LEFT HAND SIDE WITH BAND AND FLATS.
SO, UH, DOUBLING THE AMOUNT OF UNITS AND THEN INCREASING THE MARKETING UNITS, UH, A LITTLE BIT.
BUT AS YOU CAN SEE, THERE'S A LOT OF WORK TO BE DONE IN, IN THIS AREA TO PROVIDE WORKFORCE HOUSING AND, AND REALLY STRIVE TO, TO FULFILL THE PFCS MISSION HERE.
WITH THAT, I WOULD LIKE TO INTRODUCE ANGELA HUNT TO, TO GIVE, UH, AND CONCLUDE THE PRESENTATION.
AND CAMERON, GOOD AFTERNOON, MR. CHAIR.
DIRECTORS, MY NAME IS ANGELA HUNT AND I REPRESENT BANYON.
UM, WE RECOGNIZE THAT THIS IS NOT A TYPICAL REQUEST, UH, AND THAT THE PROJECT IS ALREADY MOVING FORWARD.
UH, WHAT WE WOULD POINT TO IS THE FACT THAT THERE IS AN INCREDIBLE NEED FOR AFFORDABLE HOUSING IN THE CENSUS TRACK.
UH, AS YOU ALL KNOW, WEST DALLAS AND PARTICULARLY, UM, THE
[00:10:01]
OAK CLIFF AREA OF BISHOP ARTS HAVE BEEN AMAZINGLY SUCCESSFUL IN DEVELOPMENT OVER THE LAST DECADE.BUT THAT'S ALSO MEANT GENTRIFICATION.
UH, THAT'S MEANT THE DISLOCATION OF A NUMBER OF FOLKS WHO LIVE IN THE AREA WHO CAN'T AFFORD TO LIVE THERE.
UH, AND THIS CREATES AN IMMEDIATE OPPORTUNITY FOR AFFORDABLE HOUSING.
UH, IT'S GOING TO DOUBLE THE AFFORDABLE HOUSING IN THE CENSUS TRACK, AND IT'S GONNA COME ONLINE, UH, VIRTUALLY IMMEDIATELY.
WE'RE EXPECTING THE FIRST UNITS TO BE, UH, OPERABLE STARTING BEGIN NEXT YEAR, AND THEN THE FULL SITE WILL BE COMPLETE MIDDLE OF NEXT YEAR.
SO WE HOPE YOU'LL APPRECIATE THIS OPPORTUNITY FOR SOME AFFORDABLE HOUSING IN THIS AREA.
AND WE'RE HERE TO ANSWER ANY QUESTIONS YOU MIGHT HAVE.
UH, DO WE HAVE ANY COMMENTS OR QUESTIONS FROM THE BOARD? DIRECTOR CALLAS, THANK YOU FOR YOUR PRESENTATION.
UM, NO QUESTION THAT THERE'S NEED FOR, FOR AFFORDABLE HOUSING IN THAT AREA.
UM, GIVEN THAT THIS PROJECT IS THE TITLE, THIS PROJECT IS PASSED, THIS PROJECT IS UNDERWAY, IT, I THINK WOULD BE AT LEAST OF INTEREST TO THE BOARD TO KNOW WHAT THE CITY IS GIVING UP IN THE WAY OF TAX REVENUES IF WE GO AHEAD AND PROVIDE A TAX ABATEMENT, UH, UNDERSTANDING THAT THERE ARE GONNA BE REVENUES THROUGH THE LEASE.
BUT WHAT WOULD BE THE TAX ON THE FINISHED, UH, PROJECT ESTIMATE? OBVIOUSLY THE ESTIMATED, UH, PROPERTY TAXES, I DON'T HAVE THAT OFF THE TOP OF MY HEAD.
UM, BUT WE'RE LOOKING AT ROUGHLY, UH, THE MILL RATES TWO AND A HALF PERCENT IN THIS AREA IN A, IN A $65 MILLION PROJECT COST.
SO IF YOU DO THE MATH ON THAT, UM, YOU'RE LOOKING AT ROUGHLY, UM, A MILLION MID IN THE, IN THE 1.2 TO $1.3 MILLION RANGE IS, IS MY ESTIMATE.
SO IF YOU SUBTRACT WHAT WE'RE GOING TO BE GETTING THAT RACE, THERE'S, THERE'S A PRETTY BIG DELTA.
YEAH, AND I WOULD LIKE TO REITERATE THAT THE IMPORTANCE, UH, OF, OF PART OF THIS PROJECT IS, IS REALLY THE LACK OF WORKFORCE HOUSING IN AN AREA THAT, THAT REALLY, THAT REALLY NEEDS IT, ESPECIALLY WHEN YOU HAVE THE METHODIST HOSPITAL, OUR, UH, PROJECT DOWN THE STREET ARCHIVE APARTMENTS.
WE'VE HAD A NUMBER OF RESIDENTS THAT HAVE BEEN TURNED AWAY MAINLY DUE TO, UH, INCOME DEPARTMENTS.
AND SO IF, IF WE HAD MORE WORKFORCE HOUSING UNITS IN THIS AREA, ESPECIALLY WITH THIS PROXIMITY TO THE HOSPITAL BEING LOCATED IN AN OPPORTUNITY ZONE, UH, WE WOULD BE ABLE TO, UH, YOU KNOW, SERVE THE RESIDENTS OF THE CITY OF DALLAS AND ALSO FULFILL THE PFCS MISSION THAT WAY.
AND I, I'M NOT AGAINST THE PROJECT, I JUST THINK AS A BOARD, WE AT LEAST NEED TO HAVE THAT INFORMATION TO HAVE THAT AS PART OF OUR DECISION CRITERIA.
UH, JIM PLUMMER, YOU HAVE YOUR HAND UP? I DO.
UM, AS YOU KNOW, WE DO AN UNDERWRITING OF EACH OF THESE PROJECTS AND, UM, IN THIS PARTICULAR PROJECT, UM, THE CURRENT TAXES, EXCUSE ME, ARE ABOUT $126,000.
'CAUSE THE PROJECT DOES NOT COMPLETE, BUT WE DID ASSUME THAT THE PROJECT WAS COMPLETE AND WAS SUBJECT TO TAX.
AND WE HAD HILLTOP RUN AN UNDERWRITING OF THE PROJECT, AND THEY DETERMINED THAT IF YOU TAKE INTO ACCOUNT THE RENT SAVINGS AND THE RENT PROCEEDS THAT YOU RECEIVE, YOU WILL CAPTURE 63% OF THE TAXES THAT WOULD HAVE BEEN IMPOSED ON THIS PROJECT.
IF IT WAS SUBJECT TO TAX, SHE COULD SHOW IT.
IF YOU ASSUME FOR A MOMENT THAT THERE'S A SALE OF THE PROJECT AND THAT YOU MAKE $3 MILLION OFF OF THE SALES OF THE PROJECT, THAT NUMBER GOES UP TO 86% OF THE TAXES OVER THE NEXT 15.
AND, AND WE, WE HAVE HILLTOP RUN THESE NUMBERS FOR US PRECISELY TO ANSWER THE QUESTION THAT WAS ASKED IS, WHAT IS THE RETURN TO THE COMMUNITY IN DOING THIS? AND IF YOU DON'T ASSUME CAPITAL EVENTS, WE GET 63% OF THE TAXES BACK.
IF YOU DO ASSUME CAPITAL EVENTS, WE GET 86% OF THE TAXES BACK OVER THE NEXT 15 YEAR PERIOD.
SO HOPEFULLY THAT'S HELPFUL IN ANSWERING THE QUESTION.
DO WE HAVE ANY OTHER QUESTIONS OR COMMENTS?
[00:15:03]
YES, THANK YOU, PRESIDENT.I'M GONNA, I'M GONNA BE REAL HONEST WITH YOU.
WHEN I FIRST SAW THIS, UH, I THINK IT WAS, IT WAS ON THE AGENDA A COUPLE OF MONTHS AGO.
I, I DRIVE DOWN BACK THERE EVERY DAY.
I'M LIKE, WHAT? I'M LIKE, THIS IS CRAZY.
THIS ISN'T, THIS CAN'T BE RIGHT.
SO I'M GLAD, YOU KNOW, THE FIRST THING YOU DID WAS EAST KESSLER METHOD HOSPITAL, COUNCILMAN WEST, I ASSUME SO I ASSUME THERE'S NO ONE HERE AGAINST IT, SO I ASSUME THEY'RE ALL VERY SUPPORTIVE.
I, WE KNOW HOW STRONG THOSE NEIGHBORHOODS ARE, AND WE CERTAINLY RESPECT THAT.
SO, UH, I GUESS MY OTHER COMMENT WAS, YOU KNOW, THE CREATION OF THIS BOARD WAS TO, THE TAX ISSUE WASN'T, ISN'T AN ISSUE TYPICALLY BECAUSE WE'RE TAKING UNDEVELOPED PROPERTY, RIGHT? AND, AND SO WE'RE NOT E YOU KNOW, IT DIDN'T GET OUTTA THE TAX BASE.
WE'RE GETTING THE UNITS AND WE GET LEASE INCOME AND, YOU KNOW, ALL THE THINGS P F C, THIS IS OBVIOUSLY A DIFFERENT CASE.
AND I, I WANTED TO ASK JIM, JIM, HAVE YOU SEEN A CASE OF PAR, UH, ALMOST COMPLETE OR PARTIALLY COMPLETED BUILDING CHANGE TO A P F C STRUCTURE? YES, SIR.
WE'VE DONE IT A COUPLE TIMES IN AUSTIN, UM, AND WE'RE, WE'RE LOOKING AT IT IN A COUPLE OF OTHER PLACES.
UM, AND AS LONG AS THE BUILDING IS NOT OCCUPIED, THE STATUTE TREATS IT AS NEW DEVELOPMENT.
THAT'S, THAT'S, YOU KNOW, THAT'S, THAT'S A, MY BIG THRESHOLD.
SO I'M, I'M OVERALL SUPPORTIVE.
I DO WANNA ASK ONE QUESTION, THOUGH.
WHEN YOU RAN YOUR NUMBERS, YOU PROBABLY RAN 'EM THE FIRST TIME AT 20:22 AM I, AND SO DO YOU KNOW WHAT THE NEW A M I IS? UH, I BELIEVE FOR, UH, A HOUSEHOLD OF THREE, IT IS 76,000.
IT'S ACTUALLY FOR, I THINK FOR A HOUSEHOLD OF FOUR, IT'S GONNA BE 105,000.
AND, AND, YOU KNOW, THAT JUST CAME OUT LIKE IN THE LAST MONTH OR SO.
SO, SO WHEN YOU LOOK AND, AND, AND THE REASON I BRING THAT UP, UH, IT'S, IT'S GOOD NEWS FOR YOU, RIGHT, OBVIOUSLY, IS THAT IT WENT UP BASICALLY $12,000 IN ONE YEAR, AND IF YOU DO THE 30% RULE OF, YOU KNOW, 30% OF YOUR INCOME YOU GO TO, TO HOUSING, RIGHT? IT'S ALMOST 300 A MONTH.
SO ANYBODY'S PRO FORMA, BASED ON THE OLD A M I NUMBERS, THEY ACTUALLY CAN CAPTURE 200, $300 MORE PER MONTH, UH, AND, AND RENTAL INCOME.
UM, YOU KNOW, AND, AND THIS, THIS ISN'T, THIS ISN'T A CRITICISM OF, OF YOUR COMPANY AT ALL.
I'M, I'M SURE IT'S A BEAUTIFUL PRODUCT, BUT ONE THING I HAVE AN ISSUE WITH IS THAT THE MARKET RATE ON THE STUDIOS IS 1285, AND THE 80% AMIS ON THE STUDIOS IS 12 EIGHT IS THE SAME NUMBER.
SO YOU'RE GETTING CREDIT FOR 35 AFFORDABLE UNITS, BUT YOU'RE NOT REALLY, YOU'RE PRO THEY'RE, THEY'RE MARKET RATE, BUT YOU'RE GETTING CREDIT JUST 'CAUSE OF THE WAY STUDIOS ARE STRUCTURED.
YOU KNOW, THE, THE WAY THE A M S CALCULATED, I REALLY JUST BRING THAT UP TO THE BOARD.
IT JUST, UH, YOU'RE GETTING CREDIT FOR SOMETHING SENSIBLY, THEY'RE NOT REALLY PROVIDING, AND NOT THAT YOU'RE NOT, YOU'RE NOT DOING ANYTHING WRONG.
YOU'RE BEING ASTUTE AND, AND YOU KNOW, SMART ABOUT IT.
THAT'S, I DO WANNA BRING POINT OUT IF YOU CAN'T SHARE THE PLAN.
COMMISSIONER COUNCILMAN WEST, WHAT, WHAT WERE THEIR CLOSING THOUGHTS? I, I, I ASSUME THEY SAID GO TALK TO THESE KESSLER, GO TALK TO THE NEIGHBORHOODS.
ANY OTHER ISSUES? YEAH, I MEAN, I OBVIOUSLY CAN'T SPEAK FOR THEM, BUT I WAS JUST, I CAN GIVE YOU KIND OF A, A QUICK OVERVIEW OF, OF EXACTLY THOSE DISCUSSIONS.
AND, AND I'M NOT SURE IF, IF YOU WANT MORE, I, I CAN BRING PHIL UP AS WELL.
UH, I, I'LL JUST, I'LL GIVE, UH, KIND OF, UH, AN OVERVIEW OF, OF, OF THE WHOLE PROCESS AND THE CONVERSATIONS THAT WE HAD.
UM, YOU KNOW, PHIL MET WITH THE PRESIDENT OF EAST LER PARK NEIGHBORHOOD, UH, DR.
CHARLES HALEY ON SEVERAL OCCASIONS.
UH, ONE MEETING INCLUDED, UH, ANOTHER MEMBER OF THE COMMUNITY.
THIS IS KATHERINE HOMAN AND LUKE MAL TO TOUR, TO TOUR OUR OTHER PROJECT PARK ARCHIVE OF APARTMENTS, AND KIND OF INTRODUCED THE CONCEPT OF WORKFORCE HOUSING.
THEY WERE KIND ENOUGH TO SPEND THE TIME, AND THEN WE PROVIDED A IN INFORMATION PIECE, WHICH I BROUGHT COPIES OF, AND I'M HAPPY TO PROVIDE, UH, TO YOU ALL.
UM, AND SO WE DISTRIBUTED THIS PIECE TO THE COMMUNITY, AND, UH, WE, WE'VE HEARD NO NEGATIVE COMMENTS.
THEY UNDERSTAND THE IMPORTANCE OF WORKFORCE HOUSING.
UM, THEY WERE COMPLIMENTARY IN AN EMAIL TO US SAYING WHAT A WONDERFUL PIECE OF INFORMATION.
AND, UM, THE PRESIDENT OF METHODIST HOSPITAL ALSO TOURED OUR OTHER FAMILY PROJECT AND, AND, UH, UNDERSTOOD HOW IT WOULD BE HELPFUL TO, UH, HIS EMPLOYEES.
DIRECTOR TOLEDO, WE HAVE ANY OTHER COMMENTS OR QUESTIONS? ONE LAST ONE.
UM, JUST ANECDOTE, JUST ACROSS THE STREET FROM YOU WASN'T HABITAT OR, OR WASN'T DALLAS COUNTY HABITAT DOING A LIGHT TECH DEAL? OR, OR, OR CATHOLIC CHARITIES? IS THAT STILL GONNA HAPPEN CROSS BECKLEY FROM YOU?
[00:20:01]
I'M NOT SURE.I DID MY RESEARCH ON THE, UH, THE LITECH DEVELOPMENTS THAT ARE HAPPENING IN THE NEIGHBORHOOD.
THAT WASN'T ONE THAT, THAT POPPED UP ON THE MAP.
UM, SO I'M NOT SURE, BUT THAT'S A, THAT'S SOMETHING I CAN FOLLOW UP ON.
IT'S, IT JUST, IT'S, IT IS IMMATERIAL THIS CONVERSATION, BUT IT'S, I I DO KNOW IT WAS IN, YOU KNOW, IT WAS IN THE HOPPER.
I HAVEN'T SEEN OR HEARD ANYTHING ABOUT IT, SO IT'S PROBABLY A DROP.
SO IT'S NOT WITH THE HFC OH, IS IT? WITH THE HFC? IT'S NOT, OH, IT'S NOT.
HAVE HAD Y'ALL SEEN IT, SOME OTHER ISSUE, SO, OKAY.
UH, I, I DID HAVE ONE QUESTION FOR, UH, FOR, UH, JIM PLUMMER, IF YOU DON'T MIND.
UM, SO IF THIS ITEM IS APPROVED RIGHT NOW, WE'RE APPROVING THIS.
MY QUESTION IS BASED ON, UH, THE TEXAS HOUSE'S PASSAGE OF THE NEW P F C RULES.
AND JUST SO THE BOARD HAS IT CLEAR ON WHAT THE NEXT STEPS ARE, UM, CAN YOU EXPLAIN WHAT THE NEXT STEPS, WHAT THE NEXT STEPS ARE AS FAR AS RIGHT NOW WE'RE APPROVING, NEGOTIATE, AND APPROVAL OF A EXECUTION OF THE TERM SHEET.
AFTER THIS, IT WILL GO, WE NEED TO SEND A NOTICE OUT TO THE TAX ENTITIES, CORRECT? CORRECT.
YOU, AND THEN IT'LL COME APPROVING THIS PROJECT.
YOU, YOU ARE GIVING AN APPROVAL TO ENTER INTO A NON-BINDING TERM SHEET.
UM, WHEN THE FINANCING IS ALL IN PLACE AND, AND THE DEFINITIVE DOCUMENTS ARE NEGOTIATED, THEN WE WILL COME BACK TO YOU FOR APPROVAL.
AS YOU'RE PRETTY WELL AWARE, THAT IS OFTEN A THREE OR FOUR MONTH PROCESS BEFORE WE COME BACK FOR FINAL APPROVAL.
IN THE MEANTIME, WE WILL PROVIDE A NOTICE TO THE, UH, SHARE OF EACH TAXING JURISDICTION OR THE MAYOR AND, UH, TO THE COUNTY, UM, THAT WE ARE CONSIDERING THIS PROJECT.
AND ASSUMING THAT, UH, APPROPRIATE FINANCING IS FOUND, DOCUMENTS ARE NEGOTIATED, IT WILL COME BACK TO YOU IN A PUBLIC MEETING FOR FINAL APPROVAL.
AND AT THAT POINT, YOU WILL HAVE APPROVED THE PROJECT AND IT WILL BE BINDING.
I JUST WANTED THAT CLARIFICATION SINCE THERE WAS A CHANGE IN THE LAW IN AUSTIN IN JUNE SINCE WE LAST MET.
ALWAYS LIKE EVERYONE TO HAVE THE FULL INFORMATION ON HOW THE PROCESS WORKS VERY WELL.
SO, ANY OTHER COMMENTS OR QUESTIONS ABOUT ITEM NUMBER FIVE? WE HAD A MOTION.
MR. D ONE REP, UH, DIRECTOR HANSEL, WOULD YOU LIKE TO MAKE A MOTION APPROVE.
MOTION TO APPROVE WAS MADE BY, IS THAT A MOTION TO APPROVE? WAS ANY WORDS? YES, IT'S APPROVE.
DO WE HAVE A SECOND? SECOND BY DIRECTOR TALLIS.
NOW WE'LL GO TO A ROLL CALL, PLEASE, JACQUELINE? SURE.
UH, I HAVE NOT SEEN DIRECTOR HALMAN.
UH, PRESIDENT
UH, ITEM NUMBER FIVE WAS UNANIMOUSLY APPROVED BY THE BOARD.
ITEM NUMBER SIX, DISCUSSION AND APPROVAL OF A RESOLUTION AUTHORIZING THE NEGOTIATION AND EXECUTION OF A TERM SHEET.
THE MAPLE HIGH LINE IN PARTNERSHIP WITH URBAN GENESIS, L L C.
WE LOCATED AT 59 0 8 MAPLE AVENUE, DALLAS, TEXAS.
AARON? YES, WE HAVE, UH, MR. SAMIR, BOB CAR HERE.
UH, IF I HAD TO COME UP AND MAKE THIS PRESENTATION'S.
[00:25:09]
GOOD AFTERNOON.THANK YOU BOARD, UH, FOR YOUR TIME AND CONSIDERATION.
I'M MANAGING DIRECTOR OF LINCOLN GOSPEL WITH OFFICE.
JOINING ME VIRTUALLY HERE, UM, IS OUR GENERAL COUNSEL, MEEL
QUICK OVERVIEW ON OUR COMPANY.
UM, YOU GUYS ARE FAMILIAR WITH US.
WE HAVE TWO CURRENT PROJECTS SIGNED UP WITH THE P F C, UH, BLUFF VIEW AND SINGLETON HIGHLINE.
THIS IS OUR THIRD PROJECT THAT WE'RE PRESENTING TO THE BOARD.
UH, WE'RE A RESIDENTIAL COMPANY BASED IN HOUSTON, AND, UH, WE HAVE A MISSION DRIVEN THESIS TO PROVIDE AFFORDABLE APARTMENTS AND UNAFFORDABLE LOCATIONS, WHICH WE THINK ALIGNS WELL WITH THE P F C PROGRAM.
UH, WE CURRENTLY HAVE 5,000 UNITS IN OUR PIPELINE AND ARE BUILT, UH, 1500 UNITS A DAY.
THE PROJECT IN QUESTION IS 130 CLASS A UNITS.
IT IS CURRENTLY UNDER CONSTRUCTION, MUCH LIKE THE PRIOR PROJECT AND WAS PROJECTED TO DELIVER IN JANUARY, 2024.
IT'S A TRANSIT-ORIENTED DEVELOPMENT THAT PROVIDES NEW CONSTRUCTION AND AFFORDABLE HOUSING, UH, TO MEDICAL WORKERS.
THE NEARBY MEDICAL DISTRICT, AS WELL AS OTHER NEARBY EMPLOYMENT CORRIDORS, WE'RE LOCATED WITHIN 0.4 MILES OF THE INWOOD DART STATION.
AND WE ARE ALSO TWO MILES AWAY FROM PHI FIELD.
THE PRODUCT ITSELF IS GONNA BE TWO SEPARATE FOUR STORY BUILDINGS, UH, LOCATED ACROSS THE STREET FROM EACH OTHER.
UM, SHOWN HERE ARE REPRESENTATIVE UNIT UNIT FINISHES.
UM, THE UNITS WILL COMPRISE OF STAINLESS STEEL APPLIANCES, UH, IN UNIT WASHER DRYER, SMART THERMOSTATS, QUOTES, COUNTERTOPS, THE TYPICAL FINISHES YOU WOULD EXPECT OF A CLASS A DEVELOPMENT.
THE PROJECT ITSELF, UM, WILL HAVE, UM, UH, A LIMITED SET OF AMENITIES WITH REGARDS TO DOG PARK, COWORKING STATION, UH, AS WELL AS BIKE STORAGE.
UH, WE REZONED THIS PROJECT BACK IN 2021 FROM INDUSTRIAL TO MF TWO.
UM, AS PART OF THE REZONING PROCESS, WE'VE MET WITH THE NEIGHBORS, UH, SURROUNDING TOWN HOME HOAS, AS WELL AS COUNCILMAN MADANO AT THE TIME, COMMISSIONER HAMPTON.
UM, WITH RESPECT TO FEEDBACK, WE MADE VARIOUS CHANGES ON THE DESIGN AS WELL AS SELF-IMPOSED DEEDED RESTRICTIONS AS IT RELATES TO, UH, CERTAIN LANDSCAPE BUFFERS, PUBLIC LIGHTING, ADDITIONAL, UH, TREES AND DENSITY OF TREES, AS WELL AS FENCE FEET.
I THINK WE COVERED MOST OF THESE ITEMS. UM, THIS IS ALSO A CENSUS TRACK THAT REQUIRES THE AFFORDABLE HOUSING.
UM, AND SO WE, WE BELIEVE IT'S A GOOD FIT FOR P F C.
THIS IS A QUICK OVERVIEW OF OUR SOURCES AND UNIT IN USE.
AS I MENTIONED, THE PROJECT IS WILL FINANCE AND CURRENTLY UNDER CONSTRUCTION.
THE NEXT STEPS, UH, ASSUMING WE RECEIVE APPROVAL OF TODAY'S BOARD MEETING, WILL BE TO, UH, CLOSE PRIOR TO, UH, COMPLETION OF OUR FIRST BUILDING.
OUR FIRST BUILDING IS PROJECTED FOR DELIVERY IN JANUARY.
AND SO WE'RE TARGETED CLOSING IN DECEMBER.
WITH THAT, I'M HAPPY TO ANSWER ANY QUESTIONS.
DO YOU HAVE ANY QUESTIONS ONLINE? PERFECT.
TOLEDO, UM, EXCELLENT PRESENTATION.
LOVE BRINGING AFFORDABILITY TO, YOU KNOW, THE MEDICAL DISTRICT.
I MEAN, EVERY, EVERY DIRECTION YOU, YOU, YOU LOOK, THERE'S NOTHING BUT JOBS AND OPPORTUNITIES, SO I'M SURE THIS WILL DO REALLY WELL.
I'M JUST CUR I'M CURIOUS, WHEN YOU WENT TO YOUR LENDER, SO OBVIOUSLY YOU STARTED CONSTRUCTION WHEN YOU WENT TO YOUR LENDER AND SAID, WHAT ABOUT THIS STRUCTURE? YOU SHOW 'EM THIS PROFORMA.
DID THEY, DID THEY HAVE TO GO BACK? BOOT COMMITTEE? DID THEY SAY, YEAH, THAT SOUNDS LIKE A GOOD IDEA, OR WE'RE OKAY AS IT IS? OR JUST CURIOUS HOW THAT DIALOGUE WENT.
UM, IN OUR CASE, OUR LENDER ACTUALLY IS FAMILIAR WITH THIS PROGRAM AND THIS FINANCE OTHER P O C, UH, PROJECTS AROUND THE STATE.
AND SO, UM, IN THIS PARTICULAR CASE, IN OUR LENDER, THEY DID NOT, IT WASN'T AN EDUCATION PROCESS, SO TO SPEAK, AND SO THEY DIDN'T HAVE TO GO BACK.
I'M JUST CURIOUS IF WE'RE OPENING UP PANDORA'S BOX, YOU KNOW, HOW, HOW MANY, YOU KNOW, HOW MANY CRANES DO YOU SEE AROUND TOWN THAT MIGHT END UP BEING PFCS? AND I'M, I'M NOT, I'M NOT SAYING IT'S A BAD THING OR GOOD THING.
I DON'T KNOW WHAT YOU'RE WORKING ON.
[00:30:01]
AARON AND, AND ALBERT, BUT HEY, IT'S UP TO YOU GUYS.YEAH, I JUST, YOU KNOW, I JUST, I JUST THROW THAT OUT.
SO I GUESS, JIM, ARE THERE MULTIPLE INSTANCES OF UNDER CONSTRUCTION, OR IS IT TWO OR THREE AROUND THE STATE, OR IS IT 10 OR 12? WE FAR, SO FAR FOUR AROUND THE STATE.
UM, ONCE PEOPLE FINANCE, UM, UNLESS THEY PREVIOUSLY PARTICIPATED IN THIS PROGRAM, THEY GENERALLY DON'T CHANGE ANYTHING.
JUST, JUST FOR THE RECORD, UM, THE TAX ANALYSIS IS VERY SIMILAR.
CURRENT TAXES, ALL TAXES INCLUDED ON THIS PROJECT ARE $42,000 A YEAR TAX.
UM, AND YOU'LL RECEIVE EIGHT TIMES THAT WITH YOUR CLOSING FEE.
YOU'LL RECEIVE 59% OF THE TAXES JUST FROM RENT AND TAX SAVINGS.
AND IF THERE WAS A SALE, YOU WOULD RECEIVE 90% OF THE TAXES BACK.
THEY'RE ALL, THEY'RE ALL ONE BEDROOMS. THAT'S EXCELLENT.
I, THAT'S GONNA, IT'S GONNA BE, YOU KNOW, ALL, ALL THOSE UNITS UNDER $1,500, THEY'LL, UH, YOU'RE GONNA LEASE UP.
SO, YOU KNOW, I WISH YOU WELL, I'M CERTAINLY SUPPORTIVE OF THIS.
CAN EVERYONE HERE ONLINE? I, I SAW I LET YOU COME UP.
DO WE HAVE ANY OTHER QUESTIONS OR COMMENTS? WE ONLINE, I DON'T SEE ANY MORE HANDS.
THIS IS A DISTRICT TWO ITEM, WHICH WE DO NOT HAVE A REPRESENTATIVE FOR HERE ON OUR BOARD.
DIRECTOR HANSEL, I THINK HAS AN ADDRESS.
DIRECTOR HANSEL, REAL QUICK, UH, FOR THIS PROJECT, AS I RECALL, IT'S ONLY ONE BEDROOMS, AND I JUST, I'M WONDERING IF YOU COULD DISCUSS THE DRIVERS BEHIND THAT DECISION.
IF, IF IT'S JUST THE MICRO NEIGHBORHOOD HERE, THE PROXIMITY, I, I, I JUST WANNA KNOW WHY THIS TIME THIS IS DIFFERENT THAN THE PRIOR URBAN GENESIS PROJECT.
UM, IN THIS PARTICULAR PROJECT, IT WAS DRIVEN BY ONE, THE TIGHTNESS OF THE SITES.
UM, ULTIMATELY WE CAN ONLY FIT SO MANY PARKING SPOTS WITHIN THESE TWO SITES, WHICH ULTIMATELY DICTATED HOW MANY UNITS WE WILL PROVIDE.
AND SO THE, THE MORE ONE BEDROOMS WE HAVE, UH, THE MORE PARKING SPOTS WE HAVE, THE MORE BEDROOMS WE CAN PROVIDE.
AND SO THAT'S WHAT DICTATED THE, THE, THE DENSITY AND THE UNIT MIX.
UM, AS FAR AS, UH, ONE BEDROOMS, THE OTHER DRIVER WOULD BE THE TARGET RENTER IN DEMOGRAPHIC HERE, UH, GIVEN PROXIMITY TO THE MEDICAL DISTRICT, THE TARGET RENTER IS GONNA BE BY AND LARGE MEDICAL WORKERS, UM, AND TYPICALLY YOUNGER SINGLE MEDICAL MEDICAL WORKERS.
UH, I ALWAYS HAVE TO SAY, PERSONALLY, I, THIS IS PROBABLY THE FIRST SITE I'VE EVER SEEN A, A SPLIT SITE LIKE THIS.
AND I THINK IT'S VERY INTERESTING, UH, BECAUSE A LOT OF TIMES IN WHEN THE URBAN AREAS, YOU'RE ONLY GONNA FIND THESE LITTLE, UH, YOU KNOW, ONE ACRE OR HALF ACRE PARTIALS AND STUFF.
AND TO BE ABLE TO TURN IT INTO, UH, WORKFORCE HOUSING IS QUITE AN ACCOMPLISHMENT.
SO, DO WE HAVE ANY OTHER COMMENTS FOR ON THE FLOOR? I, I CAN'T SEE ONLINE ANYMORE.
WE HAVE A MOTION, MOTION MOTION BY, UH, DIRECTOR CALLAS FOR APPROVAL.
REYES, CAN YOU HEAR ME NOW? YES.
AYE, SUPPORT DIRECTOR TOLEDO, UH, APPROVE DIRECTOR HOLMES APPROVE TELLS APPROVED DIRECTOR WINTERS APPROVE.
PRESIDENT
UH, LET THE RECORD REFLECT THAT ITEM NUMBER SIX WAS PROVEN UNANIMOUSLY.
[00:35:05]
ITEM NUMBER SEVEN, PRESENTATION AND DISCUSSION OF SOCIAL MEDIA AND CONSULTANT SERVICES OFFERED BY DASH SOCIAL ASHLEY MASON.UH, BEFORE WE INTRODUCE ASHLEY, I JUST WANNA KIND OF EXPLAIN TO THE BOARD HERE WHAT THE, WHAT'S GOING ON WITH THIS, UM, AGENDA ITEM.
SO, BACK A FEW MONTHS AGO, WE WERE DIRECTED BY THE BOARD OF STAFF TO SEARCH OUT AND SEE WHAT OUR OPTIONS WERE TO KIND OF DEVELOP A BETTER WEBSITE PRESENCE, AS WELL AS KIND OF SOCIAL MEDIA MARKETING AND THINGS TO KIND OF HELP THE PUBLIC UNDERSTAND WHAT WE DO AND, AND MAYBE HIGHLIGHTS THE PROJECTS.
SO THIS IS, UH, ONE PART OF THAT, AND, UH, WE, OUR ASSISTANT DIRECTOR, DARWIN H, UH, KNEW OF ASHLEY AND, AND HER COMPANY AND, AND STUFF THAT SHE HAD DONE FOR OTHER ORGANIZATIONS SIMILAR TO OURS.
SO, UH, WE INVITED HER TO COME AND MAKE A QUICK, UH, PRESENTATION TO KIND OF GIVE AN OVERVIEW OF WHAT, WHAT MIGHT BE POSSIBLE WITH, UM, THE P F C AND, AND WHAT, UH, WE COULD BE LOOKING AT.
AND SO THIS IS KIND OF JUST A GENERAL, YOU KNOW, THIS IS WHAT THEY DO AND, AND WE CAN DELIBERATE MORE, UM, AT THE BOARD LEVEL TO SEE, YOU KNOW, HOW YOU MIGHT WANNA IMPLEMENT THIS OR IF YOU, IF YOU DON'T.
YOU KNOW, THIS IS JUST KIND OF AN INFORMATIONAL, UH, SESSION.
SO, ASHLEY, UM, THANKS FOR, FOR COMING ON.
UM, AND WE'LL, WE'LL LEAVE IT TO YOU NOW FOR YOUR PRESENTATION.
THANK YOU SO MUCH FOR HAVING ME, EVERYONE.
UM, IF YOU'D LIKE TO GO TO THE NEXT SLIDE, PLEASE, JACQUELINE.
THERE'S A BIT OF A LAG HERE, BUT IT'S FORBEARING WITH US.
UM, THEN YOU CAN GO TO THE NEXT ONE TOO, TO TELL YOU A LITTLE BIT MORE ABOUT MYSELF AND OUR WORK.
UM, I'M LOCATED IN MASSACHUSETTS.
I STARTED MY COMPANY ALMOST SEVEN YEARS AGO BACK IN SEPTEMBER, 2016.
UH, WE WORK WITH ORGANIZATIONS ACROSS THE COUNTRY SUPPORTING THEM, MAINLY WITH THEIR SOCIAL MEDIA MANAGEMENT, WHETHER IT'S FACEBOOK, INSTAGRAM, LINKEDIN, TWITTER, TO SUPPORT A VARIETY OF GOALS THAT THEY'RE LOOKING TO ACHIEVE AND ENSURE THAT WE'RE ESTABLISHING A SOLID AND REPUTABLE PRESENCE ONLINE FOR THEM.
UH, SO AN O BRIEF OVERVIEW OF HOW OUR SOCIAL MEDIA PROGRAM EXECUTION WORKS, UM, IS WE WOULD BE STARTING SOCIAL MEDIA PROFILES FOR THE P F C, UM, AND ALSO FOR THE H F C, BUT, UM, REALLY USING SOCIAL MEDIA TO SPREAD BRAND AWARENESS, ESTABLISH TRUST WITHIN THE COMMUNITY, AND REALLY SHARE THE OVERALL PROJECTS AND ALL OF THE BENEFITS THAT HAVE COME OUT OF IT.
UM, AND A LOT OF THE RESEARCH THAT I WAS DOING AND READING VARIOUS ARTICLES THAT WERE COMING UP, PEOPLE SEEM TO NOT REALLY KNOW THE DIFFERENCE BETWEEN BOTH THE P F C AND THE H F C.
SO BEING ABLE TO ESTABLISH AN ONLINE PRESENCE THAT WOULD BREAK DOWN BOTH CORPORATIONS, UM, AND ALSO HELP TO REWRITE THE NARRATIVE, ULTIMATELY, BECAUSE THERE'S A LOT OF PUSHBACK COMING FROM THE COMMUNITY.
SO SHOWING HOW IT'S A REALLY, UM, BIG BENEFIT TO RESIDENTS, BUSINESSES ALIKE, AND BEING ABLE TO KIND OF CONTROL THE NARRATIVE IN THAT SENSE AND USING SOCIAL MEDIA AS THAT DRIVING FORCE.
SO WITH OUR PROGRAM EXECUTION, UM, WE FOCUS ON DEVELOPING A REALLY ROBUST STRATEGY, WHICH WOULD INVOLVE, UM, IF THERE WERE SOCIAL MEDIA PROFILES CREATED.
THERE ARE NOT YET FOR THE CORPORATION, BUT DOING AN AUDIT OF WHAT'S BEEN DONE WITH THE, UM, CORPORATIONS ONLINE PRESENCE UP TO DATE, GIVING AN ANALYSIS OF THE INDUSTRY AND OF THE AREA TO REALLY GET A FEEL FOR WHAT TYPES OF DIRECTIONS WE CAN GO IN DETERMINING OUR OVERALL CONTENT PILLARS.
SO THINKING OF THE OVERALL TYPES OF CONTENT WE'D LIKE TO SHARE ON SOCIAL MEDIA, WHICH I'LL GET INTO A LITTLE BIT FURTHER.
AND ALSO FINDING WAYS THAT WE CAN ENGAGE THE COMMUNITY WITHIN THE PROFILES THAT WE'RE CREATING.
SO ENSURING THAT WE'RE ALLOWING PEOPLE TO SEE OUR CONTENT, INTERACT WITH IT, HELPING TO EDUCATE AND INFORM THEM ABOUT VARIOUS PROJECTS THAT ARE GOING ON AND THINGS LIKE THAT.
WE'D ALSO BE CREATING THE PROFILES FROM THE GROUND UP.
SO AS I MENTIONED EARLIER, THERE'S NO SOCIAL MEDIA PRESENCE RIGHT NOW, SO WE'D BE INVOLVED WITH CREATING THE PROFILES FOR THE SOCIAL MEDIA PLATFORMS THAT WE'D BE FOCUSING ON, AND MAKING SURE THAT IT'S, UM, REALLY POLISHED AND REALLY LOOKING NICE FOR ANYONE WHO COMES ACROSS THE, ON OUR ONLINE PRESENCE.
WE ALSO FOCUS A LOT ON ACTUALLY WRITING AND CREATING THE SOCIAL MEDIA POSTS.
SO THAT'S A BIG STRESSOR THAT COMES OFF OF OUR CLIENT'S PLATES, IS THEY DON'T REALLY NEED TO WRITE CONTENT AND SEND IT TO US, AND WE POST IT.
WE TAKE CARE OF EVERYTHING IN TERMS OF, UM, CREATING MONTHLY CONTENT, CALENDARS WITH POSTS, VISUALS, ALL OF THAT STUFF.
UM, WE WOULD BE BRINGING IN A SPANISH TRANSLATOR TO ENSURE THAT WE HAVE CONTENT IN BOTH ENGLISH AND SPANISH, UM, FOR SPANISH SPEAKING RESIDENTS.
UM, IN TERMS OF THE TYPES OF CONTENT THAT WE WOULD BE POSTING FOR ANY PRESS RELEASES THAT YOU HAVE, OR BRIEFINGS OR ANY OTHER TYPES OF DOCUMENTS THAT'S OUTLINING
[00:40:01]
UPCOMING PROJECTS, ALL YOU'D HAVE TO DO IS SHARE THAT INFORMATION WITH ME AND I CAN USE IT TO INFLUENCE AND DEVELOP THE CONTENT CALENDARS MOVING FORWARD.SO YOU WOULDN'T NEED TO WRITE ABOUT, WORRY ABOUT WRITING ANYTHING SPECIFIC FOR SOCIAL MEDIA.
I'M ABLE TO TAKE WHAT YOU HAVE AND USE THAT.
ALSO, FOCUSING ON THAT WE'RE NOT JUST WRITING AND POSTING SOCIAL MEDIA POSTS, BUT ALSO ENGAGING WITH THE COMMUNITY.
SO ENSURING THAT OUR CONTENT IS NOT ONLY SEEN FROM THE AUDIENCE THAT WE'RE BUILDING UP, BUT ALSO GROWING AND EXPANDING BEYOND THAT, LOOKING FOR COLLABORATION AND PARTNERSHIPS AS WELL TO KIND OF GET, UM, GOOD POSITIVE FEEDBACK FROM PEOPLE WITHIN THE COMMUNITY WHO CAN ALSO HELP TO SPREAD OUR MESS MESSAGE AND BRAND AWARENESS FURTHER.
AND THEN OF COURSE, PROVIDING MONTHLY ANALYTICS REPORTS THAT SHOW EACH MONTH, UM, HOW CONTENT IS PERFORMING, HOW THE ACCOUNTS ARE GROWING, UM, SETTING KPIS AND TRACKING HOW WE'RE MEASURING AGAINST THEM, BEING ABLE TO SEE, UM, WHAT TYPE OF CONTENT IS REALLY GETTING THE MOST AMOUNT OF TRACTION, WHICH WILL DRIVE WHAT WE PLAN MOVING FORWARD AND THINGS LIKE THAT.
UM, AND NOW WE CAN MOVE ON TO THE NEXT SLIDE.
SO, THE SOCIAL MEDIA PROFILES THAT I'D RECOMMEND WE IMPLEMENT FOR THE P F C WOULD BE FACEBOOK, INSTAGRAM, LINKEDIN, AND TWITTER.
AND IN THE NEXT SLIDE, I BREAK THOSE DOWN A LITTLE BIT MORE.
UM, SO ONE THING THAT I DID WANT TO MENTION IS THAT WE WOULD BE HAVING, HAVING AND WRITING DIFFERENT SOCIAL MEDIA POSTS FOR DIFFERENT AUDIENCES.
SO IT WOULDN'T JUST BE A BLANKETED CONTENT OR BLANKETED POST TO KIND OF GO TO ALL THE DIFFERENT GROUPS THAT WE'RE LOOKING TO INTERACT WITH, BUT MAKING SURE THAT EVERYTHING IS CUSTOMIZED AND SPECIFIC.
SO FACEBOOK AND INSTAGRAM WOULD BE A GREAT WAY TO REACH DALLAS RESIDENTS LINKEDIN.
WE MIGHT WANNA CHAT OR CREATE CONTENT TOWARDS DALLAS DEVELOPERS OR PROPERTY MANAGERS AND BUSINESSES.
AND TWITTER, WE CAN CREATE CONTENT THAT'S REALLY GEARED TOWARDS CITY AND STATE OFFICIALS AND ALSO JOURNALISTS WHO MIGHT WANT TO PICK UP ANYTHING THAT WE'RE CURRENTLY DOING OR PROJECTS THAT WE'RE FOCUSING ON.
AND IN THE NEXT SLIDE AFTER THIS ONE, I GIVE SOME, UM, SUGGESTIONS OF CONTENT PILLARS OR OVERALL CATEGORIES, IS REALLY WHAT THEY ARE OF SOCIAL MEDIA POSTS THAT WE'D WANNA MAKE SURE THAT WE'RE SHARING ON THE PROFILES, PROJECTS SHOWING BEFORE, DURING, AND AFTER.
PEOPLE REALLY LIKE TO SEE THE TRANSFORMATION OF A PROJECT FROM START TO FINISH, AND IT REALLY HELPS TO TIE IN THAT STORYTELLING ASPECT I KNOW IS REALLY IMPORTANT WITHIN THIS, IS BEING ABLE TO OUTLINE THE SCOPE OF EVERYTHING FEATURING BOARD MEMBERS AND STAFF MEMBERS, UM, CONTENT LIKE THAT.
AND GETTING TO SHOW THE PEOPLE BEHIND THE ORGANIZATION HELPS TO BUILD A LOT OF TRUST WITH YOUR AUDIENCE.
ALSO FEATURING DEVELOPERS AND PROPERTY MANAGERS THAT ARE PERHAPS INVOLVED IN THE DIFFERENT PROJECTS.
AND AGAIN, BUILDING TRUST WITH THE COMMUNITY ON WHO, UH, THOSE DRIVING LEADERS ARE.
PERHAPS SHARING BUSINESS OPPORTUNITIES, LEGISLATIVE UPDATES, UM, FAQS, STATISTICS AND TIPS RELATED TO AFFORDABLE HOUSING, THE BENEFITS OF THE CORPORATION TO DALLAS RESIDENTS AND BUSINESSES.
AND THEN ALSO RESIDENT SUCCESS STORIES.
SO ANY RESIDENT WHO IS LIVING IN ONE OF THE AFFORDABLE HOUSING, UM, BUILDINGS OR DEVELOPMENTS SHOWING HOW THAT'S POSITIVELY IMPACTED THEM SINCE.
AND THERE'S ALSO OTHER OPPORTUNITIES THAT WE CAN PURSUE ON SOCIAL MEDIA BEYOND JUST CREATING OUR OWN PROFILES AND WRITING AND POSTING OUR OWN SOCIAL MEDIA POSTS.
UM, FOR ANY OF YOU WHO DO USE FACEBOOK REGULARLY, I'M SURE YOU'VE SEEN FACEBOOK GROUPS OR HAVE PERHAPS, UM, PARTICIPATED IN THEM YOURSELF.
THERE'S SEVERAL FACEBOOK GROUPS RELATED TO HOUSING, REAL ESTATE RESIDENTS, LOCAL HAPPENINGS, ET CETERA, IN DALLAS.
AND THESE GROUPS HAVE THOUSANDS, IF NOT TENS OF THOUSANDS OF ACTIVE AND ENGAGED MEMBERS, WHICH GIVES US THE OPPORTUNITY TO INTERACT WITHIN THESE FACEBOOK GROUPS AND AGAIN, HELP TO EXPAND OUR BRAND AWARENESS AND BUILD SOME TRUST WITHIN THE COMMUNITY.
AND SO BEING ABLE TO INTERACT WITHIN THESE GROUPS THAT HAS THOUSANDS OF MEMBERS, IT HELPS TO EXPAND OUR AUDIENCE AND JUST BUILDS OUR AWARENESS OF PEOPLE KNOWING WHAT THE CORPORATION IS DOING AND HOW IT'S BENEFITING THEM.
THERE'S ALSO THE OPPORTUNITY TO PARTNER WITH OTHER PROGRAMS, OFFICES OR INITIATIVES.
UM, SO BEING ABLE TO IDENTIFY AND PARTNER WITH KEY PLAYERS OR STAKEHOLDERS WHO CAN AMPLIFY THE MESSAGE OF THE P F C IS HUGE FOR BEING ABLE TO, AGAIN, BUILD THAT CREDIBILITY AND TRUST AND ALSO EXPAND THE AMOUNT OF PEOPLE THAT WE'RE REACHING.
SO BY PARTNERING WITH PEOPLE THROUGH SOCIAL MEDIA CONTENT OR JOINT, UM, CONTENT PARTNERSHIPS, WHICH I'M ALWAYS HAPPY TO FACILITATE, WE CAN CREATE, UM, CONTENT THAT WILL HELP TO ENCOURAGE IT, GET SHARED BY THEM, AND ALSO INCREASE THAT MAXIMUM REACH AND ENGAGEMENT.
AND THEN I WELCOME ANY QUESTIONS THAT ALL OF YOU HAVE.
[00:45:02]
UH, I GUESS I'LL START WITH THE QUESTION.WHEN, AT THE FIRST PART OF YOUR PRESENTATION, YOU MENTIONED THE, THE DALLAS, UH, H F C, UH, DID YOU SAY YOU'RE WORKING WITH THEM? ARE YOU LOOKING TO, UH, DO A PACKAGE DEAL BETWEEN THE H F C AND THE P F C? BOTH H F C AND P F C? I THINK, I THINK ANY DEAL WOULD BE SEPARATE.
IT'S JUST THE, THE, UH, I GUESS THE, THE CONTENT WOULD BE SIMILAR, RIGHT? YOU GET A DISCOUNT WITH BOTH.
WE'D HAVE TO, WE HAVE TO NEGOTIATE, BUT THEY'RE REVIEWING IT AS WELL.
THE SAME COMPANY, WELL, THEY, THEY HAVEN'T GOT THIS PRESENTATION YET.
I HAVE A QUESTION JUST REALLY, REALLY FOR, UH, DARWIN AND AARON.
IS, DOES THE HOUSING DEPARTMENT, DO THEY THINK THIS IS A GOOD IDEA OR IS THIS INFRINGE ON YOU GUYS OR YOU GUYS? DOES IT TAKE SOME, SOME WORKLOAD OFF YOUR TEAM? UH, DEFINITELY IT WOULD.
UH, BUT WE DON'T HAVE CAPACITY TO OKAY.
TO MANAGE SOCIAL MEDIA FOR THE CORPORATIONS.
SO AS PART OF THE RETREAT, THIS IS SOMETHING THAT CAME OUT THE RETREAT AND WE THOUGHT THAT IT WOULD BE A GREAT IDEA TO BRING IN A THIRD PARTY THAT CAN HANDLE, YOU KNOW, BEING OUR BEST ADVOCATE FOR THE GREAT WORK THAT WE DO, AND CREATE THAT NARRATIVE ON THE GREAT SIDE VIDEO.
AND ALSO TO, TO, UH, THERE'S NOT A WHOLE LOT OF A ADVOCACY FOR P F C DEALS ACROSS THE STATE.
PROBABLY BE GREAT OPPORTUNITIES THAT'S BROUGHT IT FORWARD TO YOU GUYS THERE.
I THINK ADDING ON WHAT DAWN SAID, YOU KNOW, WE'VE HAD A DISCUSSION, I KNOW KEN HAD EXPRESSED A LOT OF INTEREST IN GETTING A WEBSITE SET UP.
YOU KNOW, YOU GUYS ARE A SEPARATE CORPORATION.
YOU CAN, YOU CAN PAY FOR A WEBSITE AND HAVE EVERYTHING HOSTED THERE AND HAD TO BE A REALLY, A GOOD FOUNTAIN OF INFORMATION AND, YOU KNOW, NEWS AND THINGS ABOUT WHAT, WHAT WE'RE DOING HERE AT P F C.
UM, AND THIS CAN BE A PART OF THAT, THAT PIECE.
SO CAN WE PUT THE STATUS OF YOUR, YOUR SPREADSHEET ON THERE? YEAH.
IT'S PUBLIC INFORMATION, RIGHT? RIGHT.
LIKE, YOU, YOU GUYS CAN POST WHATEVER YOU WANT ON THAT.
IT WOULD BE, UH, YOU KNOW, BENEFICIAL TO BOTH BOARD MEMBERS AND THE PUBLIC.
I MEAN, THAT'S THE IDEA, RIGHT? WE WANT THEM TO KNOW WHAT WE'RE DOING.
AND, AND THAT'S A GOOD WAY TO ADVERTISE THAT.
I, I GET QUESTIONS ALL THE TIME.
I SEND IT, I, I SEND YOUR SUMMARY OUT TO PEOPLE EVERY WEEK AND, YOU KNOW, TO BE ABLE TO SEND 'EM TO A WEBSITE WOULD BE TREMENDOUS.
AND IF IT TAKES WORKLOAD FROM YOU GUYS, THAT'S ANOTHER HUGE, SO, WELL, IT'S LIKE, CURRENTLY NONE OF THIS EXISTS, SO I WORKLOAD, BUT IT WOULD, I THINK IT WOULD HELP JUST WITH, YOU KNOW, THE PUBLIC INQUIRIES, YOU KNOW, THEY'RE GETTING OPEN RECORD REQUESTS EVERY WEEK AND IT'S, OH YEAH, IT CAN BE VERY TAX.
SO WHAT, WHAT IS WHY, WHAT, WHAT'S, WHAT'S THE COST TO THE BENEFIT
SO THIS IS JUST KIND OF A, WHAT'S POSSIBLE KIND OF, UH, DEAL.
YOU KNOW, I, I THINK IT'S A GREAT IDEA.
I THINK WE NEED TO BE A LITTLE CAREFUL THAT WE DON'T BE PERCEIVED AS HAWKING OKAY.
OPPORTUNITIES TO, UM, WATCH TAX BASE.
AND I THINK WE NEED TO MAKE SURE THAT OUR MISSION AND OUR VISION IS CLEARLY STATED.
WE'RE NOT JUST OUT THERE LOOKING FOR ANY DEAL THAT WE CAN DO THAT'S GONNA ERODE THE TAX BASE FOR THE CITY.
I THINK, YOU KNOW, THIS COULD BE DEVELOPED MORE.
I KNOW YOU GUYS HAVE A MARKETING COMMITTEE I, A COMMUNICATIONS COMMITTEE, RIGHT.
AND, UM, KNOW THERE'S A SUBSET OF BOARD MEMBERS.
I THINK YOU CAN REALLY FLESH OUT WHAT YOU ARE, ARE REALLY TRYING TO GET AFTER IN THAT, THAT COMMITTEE AND BRING IT BACK TO ASHLEY OR WHOEVER ELSE YOU GOT.
I KNOW THIS MISCONCEPTIONS ABOUT THIS SAYS ONLINE PUBLICATION
I MEAN, SHE CALLED ME AND I SAID, WHAT? TALKING ABOUT, I MEAN, THEY REALLY LOOK AT THIS AS BEING, UM, SUBSIDIZED HOUSING, UH, LOW INCOME HOUSING, AND THEY HAVE NO IDEA THE KIND OF PROJECTS THAT ARE BEING DEVELOPED THROUGH THE, THE P F C.
AND, UH, DIRECTOR REYES ON LINE.
UH, I JUST HAVE A COUPLE I GUESS, COMMENTS AND, AND I GUESS THEY CAN LEAD INTO QUESTIONS.
UM, WELL, FIRST OF ALL, I, I, I REALLY THINK IT'S A, IT'S A GREAT IDEA TO HAVE A, A PRESENCE ONLINE.
'CAUSE OBVIOUSLY, YOU KNOW, THE LAST TWO YEARS AS ME BEING ON THIS BOARD, I'VE HAD PLENTY OF QUESTIONS COME FROM MY NEIGHBORS AND, AND JUST TO UNDERSTAND WHAT IT IS THAT, THAT THE CORPORATION DOES, RIGHT? WHAT, WHAT IS IT THE P F C DOES? WHAT IS IT THAT I DO ON, ON AS PART OF THIS, UH, BOARD?
[00:50:01]
AND, YOU KNOW, USUALLY THE QUESTIONS ONCE WE START, ONCE I TRY TO EXPLAIN, YOU KNOW, AS SOON AS THEY HEAR THE WORD TAXES OR TAX IT, IT JUST GOES LEFT.UH,
BUT THERE'S ALWAYS A BUT, RIGHT? UH, MY, MY ONLY CONCERN IS, IS THAT FIRST, UH, OR MY PREFERENCE WOULD BE TO HAVE A, A LOCAL ENTITY THAT CAN, THAT UNDERSTANDS, UH, WHAT'S GOING ON IN DALLAS, RIGHT? ESPECIALLY WHEN WE COME TO THE CONVERSATION OF HOUSING AND HOW IT RELATES TO WHO WE ARE, OUR D N A AS A CITY, RIGHT? UH, WHEN WE LOOK AT, YOU KNOW, WHEN WE START LOOKING AT THE NIMBY CROWD, WHEN WE START LOOKING AT, YOU KNOW, NO LIGHT TECH IN MY AREA.
I MEAN, ALL THAT NEEDS TO BE CONSIDERED AND UNDERSTAND BECAUSE OBVIOUSLY AS YOU'RE, AS, AS WE'RE PUSHING INFORMATION OUT, YOU KNOW, IT, IT, IT, IT INFORMS OUR NEIGHBOR, RIGHT? AND IT EITHER INFORMS OUR NEIGHBOR IN A WAY THAT, UM, UH, GETS 'EM TO UNDERSTAND THAT, WELL, YEAH, THEY'RE, YOU'RE RIGHT THERE, GOES TO CITY YOU RIGHT.
UH, OR IT, IT, IT EDUCATES 'EM AND IT ENLIGHTENS THEM ON, ON WHAT IT IS THAT THAT'S GOING ON.
SO, UH, I, IN, IN, IN NO WAY AS A, YOU KNOW, AS A, AS A MARK ON, ON, ON OUR, ON, ON, ON THE DESK OF SOCIAL BEING THAT THEY'RE OUTTA STATE, I, YOU KNOW, MY, MY PREFERENCE WOULD BE TO HAVE SOMEONE THAT'S LOCAL THAT CAN UNDERSTAND, THAT CAN ACTUALLY ENGAGE IN THOSE CONVERSATIONS AND GET BACKGROUND AND CONTENT AND CONTEXT TO BE ABLE TO MAKE SURE THAT WHAT WE'RE PUSHING OUT THERE IS NOT JUST ALSO EDUCATING, BUT ALSO, YOU KNOW, HELPING OUR CONVERSATION OF, OF HOUSING IN DALLAS.
UM, BECAUSE IT'S SOMETHING THAT, YOU KNOW, WE'RE, WE'RE, WE'RE DEALING WITH, RIGHT? RIGHT NOW WE GOT THE DALLAS HOUSING COALITION THAT'S PUSHING FOR 200 MILLION FOR THE CITY BOND, UH, FOR THE 2024 BOND.
AND WHY IS THAT IMPORTANT? UH, YOU KNOW, THE FACT THAT, THAT THE CITY ITSELF HAS, YOU KNOW, IT'S, IT HAS, IT, IT'S A NEED OF 33,000 UNITS JUST TO CATCH UP WITH THE DEMAND.
AND, AND HOW IS IT THAT THE WORK THAT WE'RE DOING IS SUPPORTING THAT, BUT IT, BUT THERE'S ALSO OPPOSITION ON THAT, RIGHT? I MEAN, WE, WE, WE'VE HEARD THOSE, THOSE CONVERSATIONS, WHETHER IT'S AT, AT THE HORSESHOE OR THROUGH, UH, YOU KNOW, COMMENTS THAT ARE MADE AT, AT, YOU KNOW, TO REPORTERS OR WHATEVER.
SO, SO WE GET TO FEEL ALL OF THAT.
AND TO ME, AGAIN, HAVE, IT'S IMPORTANT THAT WE HAVE SOMEONE THAT'S LOCAL THAT CAN UNDERSTAND THE CONTEXT AND THE CONTEXT AND HELP US MANEUVER THAT, UH, THOSE, THOSE, THOSE, UH, THOSE POINTS.
UH, THAT'S ONE CO THAT'S, THAT'S ONE COMMENT.
THE OTHER IS, UH, DEFINITELY, LIKE I SAID, I DEFINITELY WOULD SUPPORT HAVING THIS, THIS ONLINE PRESENCE.
UH, I, I KIND OF TAKE TO, UH, THE PRESENCE THAT THE, UH, UH, ONE OF OUR OTHER, UH, C UH, BOARDS HAS, WHICH IN THIS CASE WOULD BE THE ENVIRONMENTAL, UH, UM, COMMISSION.
UH, I'M VERY IMPRESSED WITH THE, WITH, WITH, WITH HOW, UH, THAT, THAT, THAT BOARD OR THAT COMMISSION IS, UH, UH, HAS AN ONLINE PRESENCE.
THEY, THEY, THEY HAVE THEIR OWN THEIR OWN, UH, WEBSITE.
THEY HAVE, YOU KNOW, SOCIAL MEDIA PRESENCE ON TWITTER AND SO ON.
UH, BUT I KNOW THAT THAT'S LED BY THE CHAIR, UH, CAPTAIN BAAN, WHO ALSO HAPPENS TO BE A, UH, UH, WHAT DO YOU CALL IT? UH, ONE OF THESE CREATIVES THAT DOES ALL THIS STUFF ONLINE AND STUFF.
SO, SO IT KIND OF FALLS IN HER WHEELHOUSE.
AND, AND SHE'S MADE SURE THAT, THAT HER COMMITTEE, UH, THAT SHE LEADS, HAS, HAS A, HAS A BRAND AND A, AND A, AND A, AND A REPRESENTATION.
SO I, AGAIN, I, I SEE WHERE THE WISDOM OR THE, OR THE GOOD THING IS IN, IN, IN HAVING THIS, THIS PRESENCE.
UM, SO IT'S JUST SOMETHING THAT I WOULD LIKE FOR Y'ALL TO CONSI FOR, FOR Y'ALL TO CONSIDER AS WE, UH, AS, AS WE DECIDE TO MOVE FORWARD ON THIS DECISION.
'CAUSE THE OTHER ASPECT IS, AND, AND I KNOW THAT I WASN'T ABLE TO MAKE IT TO THE, UM, TO OUR RETREAT, 'CAUSE I WAS DEALING WITH, UH, WITH SURGERY AT THE TIME.
[00:55:01]
BUT NOT ONLY DO WE NEED A SOCIAL MEDIA PRESENCE, BUT ALSO AS A BOARD, YOU KNOW, WE NEED TO GET OUT INTO THE COMMUNITY BECAUSE THAT'S WHERE THE TRUST FACTOR IS GONNA BE, RIGHT? UM, AND WE'RE NOT OUT THERE TALKING TO OUR NEIGHBORS, UH, AS REPRESENTATIVES, AS, AS LEADERS, UH, THAT HAVE BEEN APPOINTED.THEN, UH, YOU KNOW, WE CAN HAVE A SOCIAL MEDIA PRESENCE, AND THAT DOESN'T REALLY GO ANYWHERE.
IF ANYTHING, IT JUST FUELS THE, UH, THE ENERGY THAT'S ALREADY OUT THERE.
SO, UM, I, AGAIN, I WOULD SUPPORT SOMETHING LIKE THIS IF, IF IT COMES TO A VOTE, BUT I JUST SAY THAT WE NEED TO, UH, HAVE A GOOD UNDERSTANDING OF THE TOOL THAT WE'RE, THAT WE'RE ASKING FOR, AND HOW CAN THAT TOOL BE, UH, SIGNATURE TO DALLAS, BECAUSE DALLAS IS
SO, UH, JUST WANT Y'ALL TO CONSIDER THAT.
THANK YOU FOR THE OPPORTUNITY TO SPEAK.
AND I'D LIKE THE RECORD TO REFLECT THAT, UH, DIRECTOR MONTGOMERY IS IN THE ROOM AND IS IN ATTENDANCE IF IT CAN BE MARKED AS BEING IN ATTENDANCE, PLEASE.
AND, UH, PERHAPS THIS IS ALSO A DISCUSSION ITEM WE CAN BRING UP, UH, IF WE WANT TO PERHAPS GO OUT TO BED OR WHATEVER IT IS WE WANT TO DO TO, UH, TO, UH, AS A NEXT STEP, UH, WE CAN DISCUSS THAT OFFLINE FOR WHATEVER WAY WE WOULD LIKE THIS.
THIS IS A, A PRESENTATION END DISCUSSION.
IT'S NOT A VOTE RIGHT NOW, SO I DON'T, WOULDN'T, WOULD NOT WANT THIS TO WAIT FOR A LONG TIME, BECAUSE EVERY MONTH WE WAIT IS A MONTH THAT, UH, OUR, OUR SIDE OF THE STORY ISN'T GETTING OUT THERE.
AND I BELIEVE, UH, DIRECTOR MONTGOMERY WANTED TO SAY SOMETHING.
UM, SO ASHLEY, FIRST OF ALL, THANKS FOR, UH, FOR JOINING US TODAY.
UM, AND APPRECIATE, UM, WHAT YOU'VE PUT TOGETHER.
I THINK IT'S A, A TERRIFIC PROCESS, UM, FOR US TO, UH, TO TAKE A LOOK AT.
AND, UM, ALSO, AARON, I KNOW THIS IS SOMETHING THAT'S BEEN ON YOUR RADAR, AND I APPRECIATE YOU AND, AND, UH, ALBERT AND DARWIN JUMPING IN HERE AND, AND, UH, UM, GETTING US SOME, SOME CONTENT, SOME INPUT ON THIS.
SO ACTUALLY, I HAVE A, UM, I HAVE A QUESTION FOR YOU WITH REGARD TO SOME OF THE OTHER ASPECTS OF THIS ENTIRE, I'LL CALL IT CAMPAIGN.
UM, SO YOU REALLY FOCUSED ON, UM, YOU KNOW, SOME CONTENT CREATION, UM, THE SOCIAL MEDIA PRESENCE, AND THAT THAT'S ALL A, A VERY IMPORTANT PIECE.
UM, TELL ME A LITTLE BIT ABOUT HOW YOU COORDINATE, UM, WITH SOME OTHER PARTS OF THE TOTAL, UM, PUBLIC RELATIONS, UM, PUZZLE.
AND WHAT I MEAN BY THAT IS, UM, I'M THINKING OF PR, UH, AND, UM, OUR, UM, COLLECTIVE ABILITY TO, UM, HAVE A MEDIA PRESENCE.
AND ALSO, UM, YOU MENTIONED ADVOCACY.
I, I THINK FOR THE, THE P F C, UM, THAT, THAT'S A, A REASONABLY IMPORTANT PIECE TO IT AS WELL.
I KNOW WE'VE GOT, YOU KNOW, WE, WE, WE HAVE SOME, UM, GOOD HELP THERE WITH JIM AND BRACEWELL.
UM, BUT JUST HOW DOES, HOW DOES WHAT YOU DO KIND OF INCORPORATE AND COORDINATE THOSE OTHER, UM, COMPONENTS? YEAH, ABSOLUTELY.
SO WITH THE PR COMPONENT, UM, A BIG PART OF WHAT WE DO WITH SOCIAL MEDIA IS LEVERAGING TWITTER SPECIFICALLY, BECAUSE THAT'S WHAT A LOT OF JOURNALISTS AND PUBLICATIONS USE TO SOURCE SOURCES THAT THEY WOULD HAVE FOR THEIR STORIES OR FIND NEW AND UPCOMING PROJECTS THAT CAN BE FEATURED.
SO BEING ABLE TO LEVERAGE THAT SOCIAL MEDIA PLATFORM SPECIFICALLY TO GET IN FRONT OF THE PRESS AND HELP TO DRIVE THAT STORY, I THINK IS REALLY IMPORTANT.
WE ALSO DO A LOT OF WORK WITH OUR CLIENTS FOR, WHO HAVE, WHO ARE GENERATING PRESS RELEASES ON VARIOUS PROJECTS THAT WE'RE WORKING ON, TO SUBMIT THOSE TO RELEVANT JOURNALISTS OR RELEVANT PUBLICATIONS WHO COULD HELP TO PICK UP THE STORY AND THEREFORE HELP TO, UM, TELL WHAT'S HAPPENING WITHIN THE ORGANIZATION IN A POSITIVE LIGHT, AND ALSO EXPAND THE PEOPLE WHO ARE REACHING IT.
WE ALSO WORK WITH OUR CLIENTS BEYOND JUST SOCIAL MEDIA, AND WE DO A LOT OF THEIR OWN, UM, BLOG CONTENTS.
WE WRITE AND PUBLISH BLOG POSTS ON VARIOUS TOPICS ON THEIR SITES.
WE DO EMAIL MARKETING IF THAT'S SOMETHING THAT, UM, YOU HAD PERHAPS CONSIDERED DOWN THE LINE, DOING LIKE A MONTHLY NEWSLETTER, KIND OF SHARING ALMOST LIKE A DIGEST OF, UM, WHAT'S HAPPENED, WHAT'S COMING UP IN THE PIPELINE, AND THINGS LIKE THAT.
TO GIVE AN OVERALL VIEWPOINT ON THAT ASPECT.
UM, WE KIND OF INCORPORATE ALL OF THE DIFFERENT FORMS OF CONTENT MARKETING WITHIN THAT.
SO LOOKING BEYOND JUST SOCIAL MEDIA, BUT ALSO HAVING OUR OWN OWN CHANNELS THROUGH THE BLOG AND THROUGH EMAIL MARKETING TO THEREFORE, UM, INCREASE THE NUMBER OF PEOPLE WE'RE REACHING IN TERMS OF ADVOCACY.
THAT COMES A LOT FROM THE CONTENT THAT WE WOULD BE WRITING AND CREATING.
SO BEING ABLE TO, UM, SHOWCASE THE IMPORTANCE OF THE P F C, SHOWCASING ITS BENEFITS, BEING ABLE TO HIGHLIGHT THE PROJECTS THAT HAVE BEEN DONE, REALLY SHOWCASING THOSE RESIDENT SUCCESS
[01:00:01]
STORIES.I THINK THAT PART IN PARTICULAR IS HUGE, AND BEING ABLE TO USE, UM, THEIR EXPERIENCE AND BEING ABLE TO DRIVE THAT MOVING FORWARD TO SHOWCASE THE IMPORTANCE FOR THE ENTIRE COMMUNITY.
AND, UH, DIRECTOR P HAS HER HAND UP.
UH, WHAT IS THE COST OF THIS? IT WOULD DEPEND ON VARIABLES, BUT I'D SAY PROBABLY MINIMUM STARTING ANYWHERE FROM 3000 TO 4,000 A MONTH.
UM, BEING ABLE TO INCLUDE ALL OF THE SOCIAL MEDIA PLATFORMS THAT WE'RE FOCUSING ON, DEVELOPMENT, COMMUNITY MANAGEMENT AND ENGAGEMENT.
AND I WOULD ALSO SAY INCORPORATING THAT SPANISH, SPANISH TRANSLATING, ENSURING THAT WE HAVE CONTENT IN BOTH LANGUAGES VISIBLE, UM, FOR RESIDENTS.
ONE THING I WANNA COMMENT ON IS I THINK WE HAVE TO BE VERY CAREFUL ABOUT THE, THE WORDING, UM, THAT'S USED IN THE, SO SOCIAL MEDIA, BECAUSE THESE BOARD MEMBERS HAVE LIMITATIONS ON TALKING, UH, TO APPLICANTS, UH, ABOUT THESE PROJECTS.
AND SO WE DON'T WANT THIS TO COME ACROSS AS A BIG INVITATION, YOU KNOW, FOR EVERYBODY TO START CALLING WHEN INDEED WE HAVE LIMITATIONS ON OUR CONVERSATIONS.
UH, THANK YOU AGAIN, ASHLEY, FOR, UH, THIS PRESENTATION.
UH, THIS IS SORT OF, UH, THIS TYPE OF VENUE IS, IS DEFINITELY, UH, NEW TO ME.
I'M NOT MUCH, UH, ON SOCIAL MEDIA, BUT, UM, QUESTIONS I WOULD HAVE OF, OF YOU AND, AND YOUR PARTICULAR, UH, BUSINESS ENTERPRISES.
IT SORT OF GOES BACK TO, UH, WHAT, UH, VICE CHAIR MONTGOMERY HAD ASKED, AND ALSO, UH, DIRECTOR REYES, UH, ON ONE.
HOW DO YOU FRAME OR TELL THE PARTICULAR STORY, SO TO SPEAK, OF NOT ONLY THIS BOARD, BUT SINCE YOU, UM, SUGGEST THE PROFILES, UH, HOW ARE YOU GOING TO, UH, MAKE SURE THAT STORY HAS OUR PARTICULAR TEXAS TWAIN? I, I, I KNOW UP THERE IN BOSTON, IT'S A BEAUTIFUL AREA AND LOVE THE SEAFOOD AND ALL THAT STUFF.
AND OF COURSE, IT'S, UH, OUR NATION'S, UH, UH, BEDROCK OF HISTORY.
SO I, I LOVE ALL OF THAT EAST COAST AREA, BUT, UH, WE'RE TEXANS.
SO, UH, HOW IN YOUR PARTICULAR, UH, ENDEAVORS DO YOU, IN THE DIFFERENT AREAS, DO YOU MAKE SURE THAT, UH, THERE'S A PARTICULAR, UH, UH, PARTITION IF YOU WILL, THAT FRAMES OUR PARTICULAR STORY THE WAY WE ARE? UH, HERE YOU OF COURSE HAVE OTHER AREAS THAT YOU DEAL WITH AND I DON'T KNOW IF, UH, THAT HAS COME UP, BUT, UH, YOU'RE IN TEXAS NOW, SO, UH, HOW DO YOU DO THAT? YEAH, THAT'S A GREAT QUESTION.
UM, WHICH WE DO FOR ALL OF OUR CLIENTS, REGARDLESS OF LOCATION, BUT ESPECIALLY FOR OUR CLIENTS THAT ARE IN OTHER AREAS ACROSS THE COUNTRY, IT'S CRUCIAL THAT WE BUILD A REALLY SOLID RELATIONSHIP WITH AT LEAST ONE POINT OF CONTACT WITHIN THE ORGANIZATION THAT WE'RE WORKING WITH SOMEONE WHO CAN BE THAT POINT PERSON WHO'S ALMOST FEEDING US THE NEW UPDATES AND LATEST HAPPENINGS THAT ARE HAPPENING WITHIN THE ORGANIZATION.
SO WE CAN TAKE THEIR FIRSTHAND EXPERIENCE AND BE ABLE TO TURN THAT INTO THE SOCIAL MEDIA CONTENT AND POSTS AND EVERYTHING LIKE THAT.
SO WE FREQUENTLY WILL MEET WITH OUR CLIENTS ON AT LEAST A MONTHLY, IF NOT TWICE PER MONTH BASIS, TO HAVE A ONE HOUR ZOOM MEETING JUST TO KIND OF RUN THROUGH THE LATEST DEVELOPMENTS AND BE ABLE TO ENSURE THAT WE HA CAPTURE EVERYTHING EXACTLY AS IT WOULD.
THE WHOLE GOAL WITH SOCIAL MEDIA MANAGEMENT IS TO ENSURE THAT NO ONE ELSE, THAT NO ONE KNOWS THAT SOMEONE ELSE IS MANAGING YOUR PROFILES.
THE ONLY THING THAT MIGHT KIND OF, UM, GIVE AN INDICATION THAT SOMEONE ELSE IS MANAGING IT IS IF IT'S ACTIVE, BUT YOU DON'T WANT SOMEONE TO LOOK AT A SOCIAL MEDIA POST AND SAY, THIS DOESN'T REALLY SOUND LIKE THEM, AND HAVE KIND OF, UM, LOSING THAT CREDIBILITY OR TRUST IN THAT ASPECT.
SO WE GO THROUGH A VERY, UM, ROBUST ONBOARDING PROCESS WITH OUR CLIENTS TO UNDERSTAND THEIR VOICE, THEIR MISSION, UM, THEIR OVERALL VALUES, AND ENSURE THAT WE'RE TRANSLATING THAT PROPERLY INTO THE SOCIAL MEDIA CONTENT THAT WE CREATE MOVING FORWARD.
GOING ALONG WITH THAT, WE ALSO HAVE A REALLY FINE TUNED REVIEW PROCESS.
SO OF COURSE, ANYTHING THAT WE WRITE OR ANYTHING THAT WE CREATE, OF COURSE, WOULD NOT GET PUBLISHED WITHOUT OUR CLIENTS SEEING APPROVING IT AND REVIEWING IT FIRST.
SO ENSURING THAT THEY WILL BE ABLE TO SEE THE ENTIRE MONTH'S WORTH OF SOCIAL MEDIA POSTS THAT WE HAVE COMING UP AND GO THROUGH WITH THAT, UM, FINE TUNED PROCESS OF GOING THROUGH AND MAKE SURE IT SOUNDS LIKE THEM, THAT, UH, THINGS ARE ALIGNED WITH THEIR OVERALL VALUES
[01:05:01]
AND THEIR VOICE AND TONE, AND THEN THEREFORE HAVE THAT COHESIVENESS ACROSS THE BOARD.YOU, UH, DID ANSWER TWO OTHER QUESTIONS.
I WAS GONNA ASK HOW DO YOU RECEIVE YOUR INFO AND FRAME IT? YOU, YOU, UH, DID THAT BY HAVING THAT CONTACT HERE.
AND THEN ALSO, UH, I WAS GONNA ALSO GOING TO ASK ABOUT, UH, WHO'S GOING TO PROOFREAD TO MAKE SURE WHAT YOU PUT OUT THERE FOR YOU PUT OUT THERE, UH, IS IN AGREEMENT.
SO, UH, UH, THANK YOU FOR THAT.
AND THE LAST THING IS, IS, UM, COMING DOWN TO PROFILES, UM, THAT IS, UM, PROFILES THAT ARE SUBMITTED, BUT BY OUR ORGANIZATION.
DO YOU, UH, MANIPULATE THAT IN ANY KINDA WAY OR DO YOU PUT IT THE WAY THAT IT IS GIVEN TO YOU? DO YOU MEAN IN TERMS OF CREATING THEM, LIKE HOW IT SHOWS WITH LIKE THE PROFILE PHOTO AND BIO AND THINGS LIKE THAT? IF YOU HAD MY PROFILE AND I SAID, HEY, I JUST WANT MY NAME.
UH, AND, UH, I DON'T KNOW IF YOU SHOW PEOPLE'S BACKGROUND, YOU SHOW THEIR, THEIR, UH, TENURE OF WORK HISTORY, RESUMES, ALL THAT TYPE OF STUFF IS PRETTY MUCH THE GIST OF IT.
UH, THE LIMITATIONS OR HAVE YOU MADE EXHORTED? YEAH, SO I THINK THAT MAY BE A LITTLE BIT DIFFERENT ON AN INDIVIDUAL BASIS COMPARED TO THE CREATING SOCIAL MEDIA PROFILES FOR AN ORGANIZATION.
BUT, UM, ULTIMATELY WORKING WITH OUR POINT PERSON WITHIN THE ORGANIZATION AS WE'RE CREATING THE SOCIAL MEDIA PROFILES TO SAY, UM, ALMOST OUTLINE IT BEFORE IT GETS PUSHED LIVE.
SO HERE'S WHAT WE'RE THINKING FOR THE PROFILE PHOTO, WHICH WOULD LIKELY BE THE LOGO.
UM, HERE'S THE BIO THAT WE WROTE THAT SHOWCASES THE MISSION OF THE ORGANIZATION.
UM, HERE'S WHAT WE'D RECOMMEND FOR COLORS, KIND OF THINGS LIKE THAT.
SO OUTLINING OUR RECOMMENDATIONS BECAUSE THESE PROFILES HAVE NOT BEEN CREATED YET.
UM, BEING ABLE TO GUIDE THEM AND THEN HELP YOU CREATE THEM AND ENSURE THAT THEY'RE UP AND RUNNING.
AND THAT, OF COURSE, THE PEOPLE WHO, UM, WOULD NEED ACCESS TO SOCIAL, THE SOCIAL MEDIA PROFILES WITHIN THE ORGANIZATION WOULD ALSO HAVE ACCESS TO IT.
SO THAT'S ONE THING I SAY IS WHEN WE WORK WITH OUR CLIENTS THAT WE DEFINITELY DON'T TAKE FULL CONTROL.
WE MAKE SURE THAT PEOPLE WHO, UM, WOULD BE INVOLVED IN THE MARKETING AND COMMUNICATIONS DO HAVE ACCESS TO SOCIAL MEDIA PROFILES THEMSELVES AS WELL.
SO THAT WAY IF THEY NEED TO BE, UM, COMBING THROUGH THEIR CONTENT OR IF THEY'RE POSTING ANYTHING THEMSELVES TOO, IT'S KIND OF A JOINT COLLABORATION IN THAT ASPECT.
I REALLY APPRECIATE YOU COMING.
UM, MS. MASON, UH, PERHAPS AT THIS TIME IT MIGHT BE A, I APPRECIATE US, UH, CONTINUING THE CONVERSATION THAT WE STARTED AT OUR RETREAT AND ARE CONTINUING THAT CONVERSATION DURING YOUR PRESENTATION.
AND, UM, GIVEN THE, UM, THE ITEMS THAT WE NEED TO FLESH OUT THE DETAILS WE NEED TO FLESH OUT, I WOULD SUGGEST THAT, UH, WE, UH, AGREE TO SEND THIS TO THE COMMUNICATIONS COMMITTEE WHO PERHAPS COULD, UH, MEET WITHIN THE NEXT MONTH, UM, ONLINE.
AND, UM, LOOK FOR A NEXT STEP.
IF THAT MEANS, YOU KNOW, GOING OUT TO BID OR WHAT HAVE YOU, UM, OR ACCEPTING A, A BID ONCE IT'S SOLICITED.
UH, IS THERE AN AGREEMENT WITH OR DISAGREEMENT WITH THAT? I AGREE.
DO DO WE NEED TO MAKE A MOTION FOR THAT OR NO, JUST SEND IT TO, THEY JUST SEND IT TO ME.
SO WE'RE IN GENERAL AGREEMENT IS THAT THE COMMUNICATIONS COMMITTEE WILL MEET AND DISCUSS, UH, FLESH OUT THE DETAILS AND DISCUSS THE NEXT STEPS.
UH, THANK YOU VERY MUCH MS. MS. MASON AND I APPRECIATE YOU COMING AND GIVING US YOUR TIME.
MOVING ON TO ITEM NUMBER EIGHT, REVIEW AND DISCUSSION OF J P F C PIPELINE REPORT.
AARON? YEAH, SO THIS IS JUST A SIGN CONTINUATION.
JUST TO REMIND YOU GUYS, WE'RE GONNA HAVE THIS MONTHLY REPORT UP AT THE END OF EVERY AGENDA.
SO BASICALLY JUST AN UPDATE OF WHERE WE ARE ON ALL OUR PROJECTS, ANYTHING THAT'S NEW, THAT'S COMMON AND THE STATUSES OF, OF SUCH PROJECTS.
UM, SO JUST THE HIGHLIGHTS THIS MONTH.
UM, WE DIDN'T MEET IN JULY, BUT WE DID CLOSE TWO PROJECTS.
WE CLOSED THE PARK AT NORTH POINT, UM, WHICH WAS A GREAT ENDEAVOR OF DARING, WORKED HIS TAIL OFF, SAY TO, TO GET THAT ONE DONE.
UH, GOT THE C D B G FUNDING AND, UH, GOT THOSE DOCUMENTS SIGNED.
SO THAT SHOULD BE, UH, DONE PERMITTING AND, AND EVERYTHING EARLY NEXT YEAR.
AND THEN WE ALSO GOT THE
THAT WAS THE GENESIS PROJECT THAT, THAT WE'VE DONE.
UM, COMING UP SHORTLY, UH, WE SHOULD HAVE THE CLOSING OF THE BLUFF VIEW SINGLETON PROJECT.
SO WE'RE EXCITED ABOUT THAT ONE IN THE NEXT 30 DAYS OR SO UNTIL, UM, SO THAT'S COMING UP, UM,
[01:10:02]
THAT ARE RIGHT UP HERE FOR, FOR CLOSING.OBVIOUSLY WE, WE'VE APPROVED SEVERAL THAT WE'RE STILL WAITING ON.
UM, THE STANDARD SHORELINE ONE, WE'RE STILL AWAITING CON OCCURRENCE FROM THE CITY.
UH, THOSE SHOULD BE FORTHCOMING IN THE NEXT, UH, I GUESS FOURTH QUARTER HERE THIS YEAR.
UM, ALSO THE RESERVE AT LANCASTER FLATS AT WHITE ROCK AS WELL.
UM, WE ARE AWAITING OUR CLOSING DOCUMENTS FOR THE MARKS FOR BEAR PARK DEAL.
THAT'S THE ONE THAT HAS, UH, IT'S RIGHT THERE OFF OF, UH, NEAR
UH, SO WE'RE EXCITED ABOUT THAT ONE AS WELL.
UH, AND THEN THE 1508 MOCKINGBIRD THERE, THEY'RE IN KIND OF THESE DISCUSSIONS WITH THE PERMITTING AS WELL.
UM, BRIDGE, WE'RE AWAITING FINAL CLOSING DOCKS.
THE, THE ELMS FROM, UH, S L R MORRELL AND THOSE ARE, THOSE ARE ALSO AWAITING FINAL CLOSING DOCKS.
SO HERE IN THE FOURTH QUARTER WE SHOULD BE CLOSING ON THOSE TWO.
UM, AND HOPEFULLY WE'RE GOING ON CONSTRUCTIVENESS,
UM, AND THEN THE OTHER FIELD FROM O IS THE STANDARD WEST COMMERCE.
SO THAT ONE'S A LITTLE TRICKY.
THEY'RE WAITING ON THE T C E Q CLEARANCE.
UM, 'CAUSE THEY HAVE SOME, I THINK, SUBSURFACE ISSUES THERE.
SO THEY JUST NEED TO GET THOSE FINALIZED AND WRAPPED FROM T C Q AND THEN THEY CAN GO AHEAD AND START THAT.
UM, SO YEAH, WE'RE, WE'RE PRETTY EXCITED ABOUT OUR PIPELINE.
WE CONTINUE TO GROW EACH MONTH.
WE SHOULD BE WITH THIS PROJECT THAT'S UNDER, UNDER CONSTRUCTION ALREADY.
WE SHOULD HAVE SOME DELIVERIES EARLY NEXT YEAR AND ACTUALLY HAVE SOME PROPERTIES UNDER OPERATIONS.
ANY QUESTIONS YOU GUYS? YES, DIRECTOR,
UM, INFORMATION, UM, I'M, YOU KNOW, VERY HAPPY TO SEE THEY'LL, THEY'LL BE IN, IN THIS EVERY MONTH.
'CAUSE UH, YOU KNOW, LOOKING FORWARD TO IT.
SO IF, IF, IF I READ THE REVENUE ESTIMATES CORRECTLY, UM, IF YOU GO UP A PAGE THINK, UM, IT SHOWS JUST DEALS UNDER CONSTRUCTION, $19 MILLION IN THE NEXT 15 YEARS, AND THEN CONSTRUCTION PENDING 70 MILLION.
IS THAT FOR THIS IS THAT LEASE REVENUE AND, AND YEAH.
ORIGINATION FEES AND EVERYTHING ELSE.
UH, SO WE HAVE 20 MILLION, POTENTIALLY $90 MILLION IF WE DIDN'T DO ANYTHING ELSE.
YOU KNOW, YOU GUYS, YOUR BOARD HAS THE NEXT, YOU KNOW, DECADE TO REALLY DO A LOT.
UM, ONCE THESE PROPERTIES GET TO BE OPERATING, YOU'LL HAVE THAT INCOME, YOU KNOW, YOU THAT'S, THAT WILL, YOU KNOW, INCREASE YOUR ABILITY TO, TO, YOU KNOW, DISSEMINATE THESE FUNDS INTO THE COMMUNITY AND REALLY DO SOMETHING GREAT.
SO, UM, SO WHEN WE TALK ABOUT, YOU KNOW, WHAT ARE WE GETTING IN EXCHANGE FOR THIS TAX EXEMPTION, THIS IS KIND OF WHAT WE'RE TALKING ABOUT, YOU KNOW, SO, YOU KNOW, YOU AS A BOARD HAVE THE PURVIEW AS TO WHAT YOU WANNA DO WITH THAT.
YOU CAN SET UP OTHER FUNDS FOR OTHER, YOU KNOW, FUNDING PROJECTS.
AND, UM, IS, IS H F C IS, ARE THEY SITTING IN A SIMILAR POSITION OR EVEN BIGGER SINCE THEY'VE BEEN AROUND LONGER? UM, NOT EXACTLY.
THE AGENCY REALLY DIDN'T GET GOING UNTIL KYLE AND I STARTED.
SO WE'RE KIND OF IN THE SAME BOAT, RIGHT.
THERE WERE SOME LEGACY PROJECTS THAT THEY WERE GETTING SOME REVENUE FLOATING IN.
UM, BUT NOW AS WE'RE BUILDING OUR PIPELINE, THAT THAT SHOULD BE, YOU KNOW, OVER THE NEXT FIVE, 10 YEARS.
SO A LOT MORE REVENUE TO WORK WITH.
WELL, AND AARON DIDN'T THE H F C RECENTLY? UH, THEY, THEY, IF I REMEMBER RIGHT, I'M NOT AN H F C EXPERT, UH, BUT IMAGINATION, BUT THEY HAD LIKE $5 MILLION TO USE FOR COMPREHENSIVE HOUSING POLICY ACTIVITIES.
YOU TELL US A LITTLE BIT ABOUT THAT.
THAT'LL JUST GIVE EVERYBODY A SENSE OF, YOU KNOW, WHAT'S POSSIBLE.
BUT BRIEFLY, YEAH, THAT MONEY THAT JUST COMES IN THAT, YOU KNOW, THAT THOSE REVENUES, YOU CAN SET UP SOME KIND OF FUNDING LIKE THE H C HAS FOR A FAMILY HOUSING ASSISTANCE OR SOMETHING OF THAT NATURE.
IT HAS TO BE RELATED TO HOUSING, CORRECT? YES.
UH, DIRECTOR REYES HAS HIS HAND OUT.
UM, YEAH, UH, I, I JUST WANTED TO ECHO WHAT VICTOR JUST SAID, OR OR WHAT DIRECTOR VICTOR, UH, TOLEDO JUST SAID THAT, UM, BECAU UH, HAVING THIS INFORMATION IN FRONT OF US, IT REALLY HELPS, ESPECIALLY ON, UH, HAVING TO GO BETWEEN TWO SCREENS SOMETIMES GETS CHALLENGING, UH,
SO, UH, THANK YOU FOR THAT, AARON.
AND, AND I JUST HAVE A QUESTION 'CAUSE I LIKE STABILITY AND CONSISTENCY.
UH, AND IT JUST HIT ME IN THE FACE WHEN I SAW YOUR, YOUR TITLE, YOUR ASSISTANT GENERAL MANAGER.
IS THERE ANY WAY WE CAN JUST GET YOU PROMOTED THE GENERAL MANAGER SO WE KNOW THAT WE'LL CAN GET THIS KIND OF WORK FROM YOU, UH, ALL THE TIME AND NOT JUST, UH, WHEN THE OPPORTUNITY'S THERE.
[01:15:01]
UM, THAT'S A, THAT'S ANOTHER CONVERSATION.
AND, UH,
WE, WE APPRECIATE IT AND APPRECIATE YOUR SERVICE.
UM, SO AARON, JUST A, A FEW QUESTIONS FOR CLARIFICATION.
SO THE FOUR UP TOP, THOSE HAVE BROKEN GROUND, THEY'VE BEGUN CONSTRUCTION, I C O HOUSE AT COLORADO ALL THE TIME.
ALL THOSE DOCUMENTS HAVE BEEN SIGNED, SEALED IN THE BEDROOM.
SO WE OWN THOSE PROPERTIES AND THEY'RE UNDER CONSTRUCTION.
UM, ALL THE OTHER ONES ARE IN VARIOUS STAGES OF, WE'RE EITHER WAITING ON CLOSING DOCKS OR ON CONSTRUCTION PERMITS AND, UH, THEN READY GO AS SOON.
SO SOME OF THOSE ARE RECOGNIZED AS HAVING NOT SEEN THE FINAL LEASE.
UM, WHEN WILL WE, UM, ON MAYBE THAT WOULD BE HELPFUL FOR THE NEXT ROUND IS TO LET US KNOW, UM, OF THOSE THAT HAVE GOTTEN FULL APPROVAL, UM, YEAH.
WHEN WE, WHEN WE CAN EXPECT THOSE FINAL, UM, THERE WAS ONE IN PARTICULAR THAT I KNOW WE WERE INCLUDING SOME GOOD NEIGHBOR AGREEMENT LANGUAGE IN.
UM, AND SO I JUST WANNA MAKE SURE THAT WE SKIP TO THAT.
THERE ARE A COUPLE THAT WERE WITHDRAWN.
CAN YOU GIVE US SOME FLAVOR ON THOSE AT THE, THE BOTTOM? SO, UM, SPECIFICALLY BANYAN, BECKLEY, UM, TRO VALOR, I KIND OF, I THINK I KNOW ON THAT ONE.
AND THEN, UH, STANDARD OAK FARMS THAT I'VE GOT GUESS MM-HMM.
SO CAMERON HAD ANOTHER PROJECT THAT WAS PREVIOUSLY SUBMITTED, BUT THEY WOULD DREW IT.
UM, I THINK THEY JUST DUE TO THE CHANGES IN THE LAW, ONCE YOU GET SOMETHING OCCUPIED IT, IT CAN'T BE A NEW CONSTRUCTION P F C.
SO THEY, THEY KIND OF DETERMINE THOSE NEW STANDARDS WERE TOO HONOROUS FOR THEM TO, TO CONVERT IT TO A P F C PROJECT.
SO THAT'S JUST GONNA STAY MARKET RATE.
UM, THEN THE, YEAH, THE STANDARD AT COLORADO, OR STANDARD OAK FARMS WAS AN NOHA PROJECT WITHDRAWN DUE TO I THINK SOME DIFFICULTIES IN THE DUE DILIGENCE THAT DISCOVERED SOME THINGS THAT, UM, JUST WERE KIND OF TOO HARD TO OVERCOME IN THE PURCHASE SETTLE AGREEMENT.
SO THEY DECIDED TO, UH, WITHDRAW THAT APPLICATION.
AND THEN THE
AND THEN I THINK THERE WAS SOME, SOME CHANGES BASED ON THEIR, UH, I THINK THEIR, THEIR STAFFING HAD CHANGED A LOT.
UM, SETH DON? YEAH, BRIAN, BRIAN
AND THEN I THINK JUST OVERALL THERE'S BEEN A LOT OF FINANCING AND DESIGN DIFFICULTIES TO ACTUALLY JUST MAKE THE PROJECT WORK FROM A FUNCTIONAL STANDPOINT.
IT'S A VERY DIFFICULT GEOGRAPHIC SITE.
UM, YOU KNOW, THIS, THE NEIGHBORHOOD IS TOUGH, SO THEY, THEY PUT THAT
DO WE HAVE A MOTION TO ADJOURN? SECOND.
SECONDED BY DIRECTOR MONTGOMERY.
OPPOSED? THE MEETING IS ADJOURNED.
THANK YOU VERY MUCH FOR YOUR COMING AND FOR YOUR SERVICE TO THE CITY OF DALLAS.