[00:00:01]
WE DO HAVE A QUORUM AND GOOD MORNING.
[Dallas Farmers Market TIF District Board of Directors Meeting on December 11, 2023.]
I SEE MR. RUBAL, WHO'S, WHO IS PHONING IN WITH US.SO YOU'VE HELPED US MAKE OUR QUORUM THIS MORNING.
SO AT THIS TIME WE'LL GO AROUND THE ROOM AND HAVE VERY QUICK INTRODUCTIONS.
AS I SAID, MY NAME IS PROFESSOR ANGEL.
MEMBERS WON TIF BOARD, DR. CARTER, DR. LORI CARTER.
YOU WANT ME TO JUST A MAYBE BOARD MEMBER.
AND I'M SUSAN EARNST, ALSO A NEW TIF BOARD MEMBER AND ALSO, UM, A RESIDENT OF THE TIFF LANGUAGE.
ALRIGHT, MR. AL, CAN YOU PLEASE INTRODUCE YOURSELF? YES, I'M MARK RUBLE.
I HAVE A BUSINESS RIGHT DOWNTOWN IN THE DISTRICT.
UH, THERE'S OTHERS ON THE CALL THAT, AND FROM WHAT, WHAT I'M SEEING, THEY ARE ALL STAFF HERE TO SUPPORT THE MEETING.
DON'T NEED TO MAKE IT INTRODUCTIONS THERE.
ALRIGHT, WELL WELCOME TO OUR MOMENT.
WE ARE VERY EXCITED THAT YOU ARE HERE.
UM, I HOPE THAT YOU VOID THE WORK THAT WE DO.
IT'S SOME VERY IMPORTANT WORK, UM, ENSURING THAT, UM, OUR CITY GROWS AND THAT WE HAVE OPPORTUNITIES AND, UH, GRID LAND USE, UM, FOR THOSE WHO ARE RESIDENTS AND BUSINESS FUND IN EXPERIENCE.
I'M REALLY EXCITED FOR OUR NEW, FOR NEW MEMBERS.
UM, OUR NEXT ORDER OF BUSINESS ARE PUBLIC COMMENTS.
AND PUBLIC COMMENTS WILL BE, UM, LIMITED TO AGENDA ITEMS THREE THROUGH FIVE.
SO AT THIS TIME, WE'RE CALLING FOR ANY OF THE ATTENDEES WHO MAY HAVE PUBLIC COMMENTS, UM, TO PLEASE UNMUTE AND TO STATE THEIR NAMES.
AND WE WILL TAKE THESE, WE'LL TAKE THOSE COMMENTS AT THIS TIME, DO YOU HAVE ANYONE THAT SIGNED OUT? NOPE.
I DO NOT SEE ANYONE OTHER THAN THE CITY STAFF.
SO IF YOU'RE FREE TO MOVE ON TO THE NEXT AGENDA ITEM.
OKAY, WELL SEEING NO COMMENTS, NO PUBLIC COMMENTS, WE WILL MOVE ON TO OUR THIRD AGENDA ITEM, WHICH IS THE REVIEW, UH, IN CONSIDERATION OF THE MEETING REPORT, UM, OF DECEMBER 12TH, 2022.
UM, AND I'M ACTUALLY GOING TO TURN THIS SECTION OVER TO MS. CLARK, UM, FOR A REVIEW AND THEN WE'LL MOVE TO NEW DISCUSSION.
UM, I ALSO GOT TO SPEAK ON THIS ITEM.
WE, THIS BOARD HAS NOT MET SINCE LAST YEAR AT THIS TIME.
SO ON THE AGENDA LAST YEAR WAS THE BOARD REVIEWS THIS, ALL THAT WE HAD TRACKED IN THESE MEETING RECORDS.
IS THERE ANY DISCUSSION OF THE ANNUAL OF LAST YEAR'S MEETING OF THE MEETING RECORD? ALL RIGHT.
WELL AT THIS TIME I'LL ENTERTAIN ANY MOTIONS MOTION TO HOWEVER THAT MOTION, I GUESS TO TAKE A STAFF QUICK MOTION TO APPROVE.
ALRIGHT, WE'VE GOT EIGHT SECOND FROM DR. CARTER AND I'LL CALL AT THIS TIME AND IF YOU WOULD SIGNIFY BY SAYING AYE.
ALL THOSE IN FAVOR, PLEASE? AYE.
ARE THERE ANY OPPOSED? THANK YOU.
ARE THERE ANY POSTS? OKAY, THAT MOTION CARRIES UNANIMOUSLY.
LET'S MOVE ON TO NUMBER FOUR, WHICH IS FOR OUR REVIEW AND CONSIDERATION OF THE ANNUAL REPORT.
AND THIS IS FOR FISCAL YEAR, UH, 20 22, 20 23.
AND I BELIEVE THIS INFORMATION WAS, UM, DISTRIBUTED BEFORE OUR TIME TOGETHER.
UM, IN YOUR MEETING, UH, PACKET AND MS. CLARK, DO YOU HAVE THINGS TO SHARE ABOUT THIS ANNUAL REPORT? AND THEN WE'VE GOT SOME, SOME THINGS THAT ARE, THAT ARE GOING ON.
IT'S, UH, WELL THE CHAIR, I'D BE HAPPY TO TAKE FIVE TO TWO MINUTES TO WALK THROUGH JUST TO GET EVERYONE SET SINCE WE HAVE BEEN TOGETHER FOR A YEAR.
SO, UM, I DO A REALLY BAD JOB.
HEY MARK, LET ME KNOW IF YOU CAN'T HEAR 'CAUSE IT'S ALWAYS A LITTLE AWKWARD WHEN I'VE GOT FOLKS AT THE TABLE AND YOU, SO I HATE YEAH, I'M GONNA TRY.
AND THEN ALSO I'VE GOT MY HIGHLIGHTED COPY OF WHAT I WANT TO KIND OF HIT AS HIGHLIGHT.
SO I DO A REALLY BAD JOB OF KIND OF KEEPING UP HERE.
YOUR, YEAH, I'LL COME UP THIS, I'LL BE WATCHING YOU, MARK, SINCE I'M ING YOU AND LOOKING.
AND THEN MARK, GET THE SAME TIME AND IF YOU RAISE YOUR HAND, I'LL LET HER KNOW SO SHE DOESN'T HAVE TO WORRY ABOUT THAT AT ALL.
[00:05:01]
SO IN THE ANNUAL REPORT, I REALLY JUST WANNA FOCUS ON THE HAPPENINGS IN FISCAL YEAR 22, 23 RATHER THAN KIND OF REHASHING THE HISTORY.UM, AND SO A REMINDER, THIS TIP DISTRICT EXPIRES AT THE END OF 2028.
UM, OR WHEN THE BUDGET CAP IS REACHED, THE CITY PARTICIPATES AT A 90%, UM, RATE.
WHAT THAT MEANS IS THAT INCREMENTAL VALUE THAT'S COUNTED TO EACH YEAR, 90% COMES INTO THE TIP DISTRICT FUND.
10% GOES INTO THE GENERAL FUND UNTIL IT EXPIRES.
THE COUNTY PARTICIPATED AT 40%, BUT IN OUR, IN OUR LOCAL AGREEMENT WITH THEM, THEY CAP OUT A CERTAIN AMOUNT AND THEY HAVE THE CAP SO THEY NO LONGER PARTICIPATE.
SO IT'S JUST THE CITY'S DOLLARS.
MOVING FORWARD, WE ARE GOING TO SKIP ALL THE WAY TO PAGE SEVEN.
UM, GET KIND OF THE CURRENT EVENTS, UM, DURING THE LAST FISCAL YEAR, 20 21, 22, UM, THE TIP BOARD AND THEN CITY COUNCIL APPROVED D COUPLE PROJECTS, UM, PEARL LS, UM, IT MIXED USE, MIXED INCOME DEVELOPMENT, A HUNDRED UNITS, 30% WILL BE SET ASIDE AS AFFORDABLE.
AND THEN THE GROUND FLOOR HAS OFFICE SPACE FOR NORTH TEXAS FOOD BANK.
AND DURING THIS FISCAL YEAR, UM, THEY DID START CONSTRUCTION AND THEY'RE GETTING VERTICAL NOW BY YESTERDAY.
YOU CAN SEE THAT CONSTRUCTION UNDERWAY.
MS, WHAT IS THE ESTIMATED COMPLETION OF THE PROJECT IF YOU KNOW? UM, I DON'T HAVE WITH ME THE REQUIRED COMPLETION DATE WE'RE USUALLY PRETTY GENEROUS.
UM, SO WE PROBABLY GAVE THEM, GOSH, I WISH I WOULD REMEMBERED RIGHT NOW, UM, UNTIL THE, PROBABLY THE END OF 25, BUT I WOULD THINK THEY WILL COME PRETTY NEAR COMPLETION AT THE END OF CALENDAR YEAR 24.
SO MAY TAKE A LITTLE BIT LONGER, BUT THEY'RE, THEY'RE GOING VERTICAL BY THE TIME THEY HAVE ALL THE FINISH OUT, YOU KNOW, MAY LATE INTO 25.
UM, THE NEXT PAGE, UM, THIS CHART SHOWS THE TIF DISTRICT FUNDED PROJECT.
SO KIND OF THE BOTTOM LINE IS, UM, ABOUT $36 MILLION OF TIF INVESTMENT HAS LEVERAGED APPROXIMATELY 331 MILLION IN ON GROUND CONSTRUCTION WITH ANOTHER 27 MILLION OR SO DEPENDING ON HOW DCA VALUES FOR A LOSS.
AND EACH YEAR ON THIS PAGE IN THE FOLLOWING YEAR, WE ACTUALLY UPDATE THOSE VALUES.
SO THERE ARE ACTUAL APPRAISED VALUES SO WE CAN REALLY SEE KINDA HOW THE PROJECTS OR THEIR HEALTH AND WHAT'S BEEN CAPTURED INTO THE ZONE.
UM, THE NEXT PAGE IS PROJECTS THAT OCCURRED WITHOUT TIFF DOLLARS.
PAGE 10, ALL OF OUR TIFF DISTRICTS HAVE A COMPONENT HOUSING WHEN WE HAVE RESIDENTIAL PROJECTS.
UM, HOWEVER, THAT DIDN'T GO INTO EFFECT AT THE FRUITION OF THE TIFF DISTRICT, BUT THE GUIDELINES CAME IN PLACE LATER.
SO WE HAVE TWO PROJECTS THAT ARE ON THE GROUND THAT HAVE AFFORDABLE HOUSING AND THAT IS HARVEST LOFT 48 UNITS AND TAILOR LOSS AT 12 UNITS.
AND THOSE ARE BOTH, THOSE PROJECTS ARE SET ASIDE, 20% OF THE UNITS AT 80% MAXIMUM AREA FAMILY MEDIAN INCOME WHEN FOR LOSS COMES UNDER ON, UM, GROUND.
THEY, UM, RENEGOTIATED ACTUALLY 30% OF THE EVENTS THE BOARD MEMBERS THAT WERE HERE MIGHT RECALL.
SO THE A HUNDRED UNITS, 30% WILL BE DEDICATED AS AFFORDABLE.
IS THAT HOW AT 80, 80 80% A MI MAXIMUM? YES, THAT'S PER OF THE MIXED INCOME HOUSING GUIDE.
AND THEY'RE PRETTY CONSISTENT THROUGHOUT EACH OF THE DISTRICTS.
UM, PAGE 11 DEVELOPMENT MAP ON PAGE 12.
UM, SO BEFORE WE TALKED ABOUT PROJECTS.
SO DEVELOPER DRIVEN PROJECTS ON PAGE 12, TALKING ABOUT INITIATIVES.
SO THESE ARE DISTRICT-WIDE PROJECTS THAT ARE NECESSARILY A DEVELOPMENT PROJECT.
SO ONE WAS APPROVED, UM, AND RECOMMENDED BY THE BOARD IN 21, 22.
AND THAT WAS REFERRAL IMPROVEMENT PROJECT.
THAT PROJECT, UM, IS WHAT WE CALL KIND OF BETWEEN THE BALLARDS ON, STILL CALLED PEARL EXPRESSWAY, WHICH NEEDS TO BE RENAMED.
BUT UM, THOSE, UH, THAT IS NOW REALLY A PLAZA AND, UM, DURING THE FISCAL YEAR IT WAS CONSTRUCTED, THEY SHOULD BE COMPLETE
[00:10:02]
BY THE END OF THIS CALENDAR YEAR.SO, UM, WE, WE GOT SOME DAYS, BUT ALL THEY'RE WAITING FOR RIGHT NOW IS THE SIGN.
SO THEY'RE WAITING FOR THE MANUFACTURER TO COMPLETE THE SIGN AND GET IT INSTALLED.
JUST KIND OF AN ENTRY MARKER THAT SAYS FARMER'S MARKET.
BUT OTHER THAN THAT, UM, THAT, THAT PLAZA IS COMPLETE.
ONCE THEY, UM, SHOW US ALL THEIR COMPLETION PAPERWORK, WE'LL GO THROUGH A, THROUGH A KIND OF CLOSEOUT AUDIT AND UM, ONCE WE HAVE THAT CHECKED OFF, WE CAN REIMBURSE THEM THE $285,650 THAT WE DEDICATED FOR THAT PROJECT.
UM, PAGE 13, UH, IS KIND OF THE CRUX OF THE ANNUAL FLOOR.
TALKING ABOUT THE FINANCIALS, THE 2023 TAXABLE VALUE WAS 643 MILLION JUST OVER THAT.
UM, AND THAT'S AN INCREASE FROM THE BASE YEAR 1,702 FOR SIT.
AND THE BIG REASON FOR THAT, THAT IS SUBSTANTIAL INCREASE.
A LOT OF THE PROPERTY WAS INITIALLY TAX, UH, EXEMPT BECAUSE IT WAS CITY OWNED.
HUGE INCREASE IN TAXABLE VALUE SINCE 2022 VALUE SINCE A 13.7% INCREASE.
SO STILL REALLY HEALTHY INCREASE, UM, WE'RE EXPECTING FROM THOSE 2023 VALUES WILL COLLECT IN 24 IN THE SUMMER, JUST OVER $4 MILLION THE NEXT SEVERAL PAGES.
UM, GONNA MATCH UP THE TIP DISTRICT PLAN.
WE HAVE GOALS AND OBJECTIVES AND KIND OF HOW FAR INTO THOSE, UM, ARE WE, SO I'M NOT GONNA GO THROUGH ALL OF THEM.
UM, BUT REALLY MEETING THE MARK, UM, BOTH ON THE INVESTMENT ON THE NUMBER OF RESIDENTIAL UNITS, UM, ON ALL OF THE DIFFERENT GOALS AND OBJECTIVES.
ONE GOAL I DO WANNA POINT OUT IS NUMBER FIVE.
THAT IS THE BUDGET CAP OF 19.2 MILLION NET PRESENT VALUE.
UM, WE'VE REACHED 12.94 MILLION IN PV CUMULATIVE.
THAT 67% OF THE GOAL, UM, TO, IF WE LOOK AT THE PROJECTIONS THROUGH 2028, THEY'RE NOT REALLY AGGRESSIVE PROJECTIONS.
SO IF THEY ARE MORE BASED ON REALITY OF WHAT WE SEEN, WE MAY FINISH COLLECTIONS BEFORE 2028.
AND THAT JUST MEANS THAT WE NEED TO ADMIT ALL OF THE DOLLARS AND THEN WE'LL SET EARLY.
BUT I DIDN'T, BECAUSE THERE'S HARDLY ANY LAND LEFT TO DEVELOP, WE CAN ASSUME THAT IT IS POSSIBLE THAT ONCE FOR A LOSS IS CAPTURED BY DA IN FULL, THAT PERHAPS WE MIGHT SLOW DOWN A LITTLE BIT.
SO IT'LL BE INTERESTING TO WATCH THE NEXT COUPLE YEARS.
ALRIGHT, PAGE 16, UM, PROFESSOR DOWNS AND MR. RIBBLE, IF YOU'LL JUST CHECK, MAKE SURE THAT LOOKS RIGHT ON THE YEAR.
IN SUMMARY SUMMARY, UM, THAT JUST CAPTURES THE BOARD MEETING.
AGAIN, WE TALKED ABOUT THE KIND $19.2 MILLION BUDGET CAP AND NPB AND WHAT THAT TRANSLATE TO TO IN TODAY'S DOLLAR IS $57.75 MILLION.
OF THAT WE'VE ALLOCATED $41.2 MILLION ROUGHLY, WHICH GIVES US A BALANCE OF 16.6 MILLION JUST UNDER THAT.
AND AGAIN, UM, THAT ISN'T NECESSARILY CASHED ON HAND, IT'S INCREMENT WE'RE GONNA COLLECT, UM, THROUGHOUT THE NEXT YEARS.
YOU MIGHT NOTICE THIS IS A LITTLE UNUSUAL.
HOLD ON, I'M GONNA GET, GET MYSELF TO THE RIGHT PAGE.
UM, THIS TIP DISTRICT BUDGET IS BASED OFF OF PROJECTS RATHER THAN TIP ELIGIBLE EXPENDITURES.
SO THERE MAY COME A POINT WHERE THAT NEEDS TO, THE BUDGET NEEDS TO BE SHIFTED BECAUSE WE DON'T NEED MONEY KIND OF STUCK IN A CATEGORY WHERE WE CAN'T SPEND IT.
SO RIGHT NOW IT'S OKAY, BUT THAT MAY NEED TO BE ADJUSTED AT A LATER DATE.
UM, TIP DISTRICT SET ASIDE, WE ALREADY GONNA TALKED ABOUT THAT PEARL IMPROVEMENT PROJECT.
UM, BUT EVEN WHEN WE TAKE THAT OUT AND SPEND THAT MONEY, WE'LL HAVE $1.67 MILLION IN DISTRICTWIDE SET ASIDE.
SO WHAT THAT MEANS IS MONEY THAT'S DEDICATED, NOT FOR PROJECTS, BUT FOR OPEN SPACE TRAILS, STREETSCAPE IMPROVEMENTS, ANYTHING THAT'S TIFF ELIGIBLE THAT'S NOT RELATED TO A PROJECT.
[00:15:01]
MINORITY WOMEN OWNED BUSINESS PARTICIPATION.ALL OF OUR PROJECTS HAVE, UM, MINORITY WOMEN OWNED BUSINESS GOALS.
IT WAS 25% WHEN ALL THESE PROJECTS TOOK PLACE, HOWEVER, IT IS NOW 32%.
SO WE WILL, UM, UPDATE THIS ONCE AGAIN FOR LOSS COMES TIME IT'S COMPLETE AND WE HAVE TO CLOSE OUT PAPERWORK.
ALL RIGHT, GOING FORWARD, 2324 WORK PROGRAM PROGRAM.
UM, I REALLY WANTED TO NOTE THAT, UM, IN THE HARVEST LOFTS BUILDINGS AS CONTEXT, 300 OF THOSE PARKING SPACES ARE PUBLIC PARKING SPACES WHERE THE CITY PURCHASE KIND OF THE ENVELOPE IN THOSE SPACES FOR THE PUBLIC.
WHEN THOSE AGREEMENTS WERE EXECUTED IN 2016 AND 2017, WE ALWAYS ANTICIPATED THAT THEY WERE GONNA START OUT FREE, BUT KIND OF MONITOR HOW IT WAS GOING.
UM, AND THERE WAS A PLAN IN PLACE AND APPROVAL PROCESS IF THE MANAGER OF THE GARAGE, WHICH IS THE SAME PERSON WHO OWNS AND IS DEVELOPING THAT WHOLE AREA, THAT WE COULD DO APPROVALS FOR PAID PARKING, OBVIOUSLY HAVING FREE PARKING AND DOWNTOWN IS UNUSUAL THROUGHOUT THIS COUNTRY.
AND, UM, THERE WAS A LOT OF MONITORING OVER THE YEARS SINCE IT CAME, UM, SINCE IT OPENED IN 2017.
AND SO THERE WAS A FINDING THROUGH A LOT OF WORK THAT ABOUT A THIRD OF THOSE SPOTS WERE BEING TIED UP WITH FIVE LONG TERM PARTNERS.
THAT'S NOT THE INTENT THEY'RE SUPPOSED TO BE FOR PEOPLE GOING TO SEE MR. RUBLE OR, YOU KNOW, GO SHOPPING, GO EAT.
SO ABOUT A THIRD OF THOSE UNITS ARE, I MEAN, ARE TIED UP AS YOU CAN IMAGINE.
WHO WANTS TO PAY, I DON'T KNOW WHAT THE GOING RATE IS, $70 FOR YOUR SPACE WHEN YOU RENT EITHER AT THAT BUILDING OR ADJACENT BUILDING.
PEOPLE WERE JUST PARKING THERE, YOU KNOW, WORKERS WERE PARKING THERE AND WALKING THREE BLOCKS DOWNTOWN AND GETTING FREE PARKING ALL DAY.
SO THAT APPROVAL HAS BEEN PUT IN PLACE AS A PARKING MANAGEMENT TOOL TO BE ABLE TO CONTROL SOME TURNOVER.
IT'LL BE THE FIRST, UM, TWO HOURS WILL BE FREE AND AT HOUR THREE IT'LL BE $3 AN HOUR.
SO, YOU KNOW, YOU CAN STAY FOR THREE HOURS AND $3.
NOT REALLY DIFFERENT FROM METER PARKING.
UH, RIGHT AROUND JANUARY 1ST WE'VE ASKED MR. BERGON TO MAKE SURE HIS WEBSITE IS UPDATED TO LET THE VISITORS KNOW THAT THERE WILL BE, UM, A FEE AND UM, ALSO TO HAVE SIGNAGE IN PLACE BEFORE THEY, THAT'S, UM, PEOPLE ARE EXPECTED TO PAY.
HE'S DOING A PRETTY SIMPLE QR CODE, UM, ABILITY BECAUSE THE RESIDENTS PARK ABOVE THAT, SO YOU DON'T WANT THEM TO HAVE TO QUEUE UP WAITING FOR PEOPLE.
SO IT'S A QR AND THE ARM AUTOMATICALLY LIFTS AND THEY GET CHARGED, UM, IF THEY STAY LONGER THAN TWO HOURS.
SO, UM, WORK WITH THEM A LOT, WORK WITH OUR TRANSPORTATION FOLKS AS WELL TO MAKE SURE IT WORKED FOR EVERYONE.
UM, I KNOW IN THE AREA THERE ARE OFFICES THAT ARE THERE AND BUSINESSES.
SO HOW DO THE PEOPLE WHO ARE PAYING FOR THE SPACE THERE ACTUALLY AT THE FARMER'S MARKET, HOW WILL THEY UTILIZE THE PARKING THERE? WILL THEY BE INCLUDED IN THE HOURLY RATE? SO, UM, THE PARKING MANAGER HAS THE ABILITY TO GRANT SOME, UH, WHAT WOULD LIKE A VALIDATION? MM-HMM.
SO PARTICULARLY FRIDAY, SATURDAYS AND SUNDAYS WHEN YOU HAVE SHED TWO GOING STRONG, THERE'S PARKING ALONG SHED TOO, THAT'S THE SOUTH AND THE NORTH.
BUT IF THERE'S SPILLOVER VENDORS THEY CAN ISSUE, UM, THE ABILITY TO GET OUT FOR FREE.
THE INTENTION THOUGH, AND THEN, YOU KNOW, SHOULDN'T BE ANY PARKING THERE FOR WORKERS, BUT THAT IS UP TO THE OWNER DEVELOPER OF THAT AREA IF THERE'S A NEED TO, TO RESERVE SOME OF THOSE SPOTS.
BUT AGAIN, THE INTENTION IS THAT THE MA HUGE MAJORITY IS FOR VISITORS.
THE, THE NEXT THING I WANTED TO HIGHLIGHT ON THE WORK PROGRAM IS, UM, NOW THAT SO MUCH DEVELOPMENT IS UNDERWAY, WE'RE REALLY WRAPPING UP AND WE'RE KIND OF LOOKING AT THE CLOSEOUT YEARS.
[00:20:01]
UM, TALK AND DESIRE AND PROBABLY NEED TO REDO SOME OF THE STREETS, PARTICULARLY CAESAR SHOP IS, UM, THERE'S RESIDENTS LIVING ALL UP AND DOWN THERE.IT, BECAUSE YOU'RE KIND OF ON AND OFF OF FREEWAY, THE SPEED IS REALLY HIGH.
SO THAT IS ONE THING THAT WE'RE DEFINITELY GONNA TAKE A LOOK AT IS, UM, CESAR CHA, WE'VE ALREADY STARTED WORKING WITH TRANSPORTATION AND DDI, UM, WE, I ALWAYS SAY THIS, WE ARE A GOOD FUNDING SOURCE BUT WE DON'T IMPLEMENT PROJECTS.
SO WE WORK WITH OTHER DEPARTMENTS.
SO ONCE THERE'S A PLAN IN PLACE ON WHAT THOSE IMPROVEMENTS ARE GONNA LOOK LIKE, UM, WE, I WOULD IMAGINE THERE WILL BE A REQUEST TO DEDICATE FUNDS DOWN THE ROAD FOR C SHOP IS MAYBE MARILLA.
WE'LL, WE'LL SEE WHAT ALL THE NEEDS ARE.
THERE'S SOME STUDIES BEING DONE TO HELP, UM, COME UP WITH SOME CLOSE OUT PROJECTS.
ALRIGHT, FINANCIALS, UM, IN THIS PARTICULAR TIP DISTRICT, AND REALLY WE CAN SEE IT UM, MORE ON PAGE 24 IS THAT THERE'S A, UM, THERE'S NOT REALLY ANY CASH ON HAND FOR DEVELOPMENT PROJECTS.
THERE'S A DEDICATION FOR DISTRICT WIFIS AND THEN EVERY TIME WE GET INCREMENTED THEY'RE GOING TO PAY BACK THE PROJECTS WE PAID.
I THINK IT'S SHOWN ON PAGE 21 HERE, WE PAID IN FULL TAYLOR SUITE STREET PROJECT AND THE SAL PROJECT.
SO THE PROJECTS BASICALLY GET QUEUED UP.
SO AS THE INFORMATION COMES IN WE REPAY MAKE THOSE PAYMENTS TO THEM.
SO, UM, THERE'S NO CASH ON HAND BECAUSE IT WOULD BE, IT WOULD GO THROUGH THE DEVELOPER PAGE.
UM, 22 SHOULD MATCH THE BODY OF THE REPORTS, THE AMOUNT OF COLLECTIONS OF UM, JUST OVER $4 MILLION THAT WE'RE ANTICIPATING TO COLLECT IN 2024.
I DO WANNA NOTE SOMETHING THAT, UM, IS IN THE FINANCIALS AND ALSO IS SHOWN HERE THAT'S A LITTLE UNUSUAL.
UM, THE TIFF BORROWED QUOTES, UM, BOND FUNDS 1985 BOND FUNDS FROM PUBLIC WORKS AND IT WAS CALLED PUBLIC WORKS AND TRANSPORTATION AT THE TIME AND DALLAS WATER UTILITIES TO REALLY SET THE INFRASTRUCTURE IN MOTION AND TO CATALYZE THE DEVELOPMENT.
SO THOSE FIRST DEVELOPMENTS, THE CAMDEN PROJECT WAS COMING ONLINE AND THERE WAS, YOU KNOW, THE STREETS AND YOU KNOW, THE WATERS WEREN'T UP FOR RESIDENTIAL.
SO WE HAD AN AGREEMENT WITH THOSE DEPARTMENTS THAT THEY WOULD ADVANCE AND DO THE WORK AND THEN THE TIFF WOULD REPAY, UM, IF AND WHEN WE HAD FUNDS.
THE ONLY REASON I'M MENTIONING THIS IS RIGHT NOW WE DON'T HAVE ANY PROJECTS CHEWED UP AFTER WE PAY FOR LOFTS AND ECONOMIC DEVELOPMENT HAS STARTED CONVERSATIONS WITH PUBLIC WATER, TRANSPORTATION AND WATER.
UM, TO SAY, OH, BY THE WAY, YOU MAY NOT RECALL BACK IN BETWEEN 1998.
IN 2002 WE HAD A SET OF CITY COUNCIL RESOLUTIONS THAT SAID WE WOULD REPAY YOU IF WHEN THERE ARE FUNDS AVAILABLE.
SO WE'VE JUST STARTED THOSE DISCUSSIONS TO FIGURE OUT THE MECHANICS OF GETTING THAT MONEY BACK TO THEM AND REALLY MOST IMPORTANTLY, KIND OF WORKING TOWARDS HOW THAT DOLLAR, THOSE DOLLARS WILL BE SPENT.
SO RATHER THAN THEM GOING CITYWIDE TO PROJECTS EVERYWHERE, USING THAT MONEY TOWARDS, AGAIN, CAESAR CHAVEZ OR ANY OTHER ROADWORK.
SO THAT'S, UM, WE'RE JUST STARTING THOSE CONVERSATIONS BUT WANTED TO MAKE NOTE I ANSWER THE QUESTION.
THAT WAS ONE OF THE QUESTIONS I HAD.
YEAH, IT'S ON THIS APPENDIX PD YOU'VE ALREADY SAID YOU HAVE BEFORE.
YEAH, I WAS JUST CURIOUS WHAT THESE NUMBERS WERE.
AND AND THEY'RE THE SAME NUMBERS ON BOTH SIDES OF THE COLUMN.
WHERE IT SAYS NET AVAILABLE FOR DISBURSEMENT AND TOTAL PAYMENTS.
COULD YOU JUST EXPLAIN A LITTLE BIT? YES, ABSOLUTELY.
UM, SO WHAT THAT IS, LET'S LOOK AT 2024, THAT'S NET AVAILABLE FOR DISBURSEMENT.
THAT IS A CALCULATED ESTIMATE OF THE OVER $4 MILLION THAT
[00:25:01]
WE ANTICIPATE COLLECTING AND REMOVING THE DISTRICTWIDE SET ASIDE WITH THIS 5% AND THIS AND REMOVING THE ADMINISTRATIVE COSTS.AND THAT'S WHAT'S LEFT TO USE FOR DEVELOPMENT PAYMENTS.
TAYLOR LOSS HAS NOW BEEN PAID IN FULL, SAL'S BEEN PAID IN FULL, UM, FOR LOFTS IS NOT COMPLETE.
SO WE'RE HOLDING SOME CASH FOR THEM SO THAT WHEN, IF AND WHEN THEY MET ALL OF THEIR AUDIT REQUIREMENTS, WE'LL HAVE CASH ON HAND AND THEN NEXT YEAR WE'LL HAVE ANOTHER APPROXIMATELY 3.7.
THAT'S ASSUMING EVERYONE PAYS FOR CATS BILLS AND ALL OF THAT GOOD STUFF.
AND JUST TO FOLLOW UP, 'CAUSE I DIDN'T REALLY PICK UP ON WHAT YOU HAD EXPLAINED.
IT WASN'T THE FOOTNOTE ABOUT HOW UH, THE WATER UTILITY AND THE PUBLIC WORKS ADVANCED AND THAT SEE THE COLUMN I'M GONNA POINT YEAH.
EASIER THE, THE FIVE, THE FIVE ASTERISK COLUMN, CORRECT.
OR HAVE ANY AS THE SECTION OF THE 2224 IF I'M READING THIS RIGHT.
I JUST GOT CATARACT SURGERY SO I CAN ACTUALLY READ THESE NUMBERS FIVE.
SO WE'RE ESTIMATING, CAN I FINISH MY QUESTION? SO START OF 2026, THE TWO NUMBERS GOING ACROSS THE LINES ARE THE SAME I THINK, BUT FOR 24 AND 25 THEY'RE DIFFERENT.
AND I JUST ALSO DIDN'T QUITE GET HOW THIS RELATED TO WHAT YOU WERE TALKING ABOUT WITH THE ADVANCE THAT HAPPENED WAY BACK 20 PLUS YEARS.
SO IN, AND AGAIN, THESE ARE BASED ON PROJECTIONS.
IT'S NOT GONNA BE EXACTLY THIS.
UM, BUT GIVEN THE PROJECTIONS, WE WILL COMPLETE PAYING OFF PRO LOSS IN 25 AND WE'RE ESTIMATING NOW THAT'LL BE ABOUT 600,000 THAT WILL NEED TO PAY.
AND THEN THE REST IN THEORY WILL BE DEDICATED TO REPAY THOSE OTHER DEPARTMENTS.
NOW WE DON'T OWE THEM $22 MILLION.
THAT WAS GONNA BE MY NEXT QUESTION.
SO THAT'S WHY MY NOTE SAYS ADDITIONAL INCREMENT MAY BE USED FOR PROJECTS RELEASED TO GENERAL FUND OR OTHERWISE DIRECTED BECAUSE EVEN THE INTEREST PAYMENTS ARE 5.2% AND IT'S OVER A LONG TIME.
SO THE PRINCIPLE THAT WAIT, THAT WITH ADVANCE AS YOU CAN SEE HERE, IS 4.49.
SO IF WE WAIT AND PAY OFF AT THE CLOSE OF THE, UH, THE FARMER'S MARKET DISTRICT IN 2028, IT'S JUST OVER $11 MILLION PRINCIPAL PLUS INTEREST, IT'S OBVIOUSLY A LOT OF INTEREST, BUT WE DON'T KNOW YET EXACTLY IF THERE'S GONNA BE ANOTHER PROJECT IF WE BUMP ALL OF THAT OR IF WE END UP PAYING THEM SOONER.
UM, SO ALL THOSE DETAILS WE JUST KIND OF HAVE TO WAIT AND SEE HOW THINGS COME TO FRUITION.
SO NO, WE DON'T OWE THAT MUCH.
IT'S JUST ONCE WE PAY THE LAST KNOWN PROJECT, THERE'S JUST MONEY UNTIL WE CAP AND SOME OF THAT MONEY WILL WIDELY GO TO THESE OTHER DEPARTMENTS.
I HAVE A QUICK QUESTION FOR YOU.
ON THE REMAINING FUNDS, OUR TAX INCOME THAT WILL COME IN, IS THERE ANY OTHER WAY TO ALLOCATE SOME OF THAT? IF ALL OF THE OBLIGATIONS ARE PAID? THE DISTRICT WIDE IMPROVEMENTS ARE DONE WHERE SOMEONE THAT IS ALLOCATED TO UPKEEP AND MAINTENANCE FOR SUBSEQUENT YEARS, UM, UNFORTUNATELY TIP DOLLARS NEED TO BE USED FOR CAPITAL EXPENDITURES.
SO IN THIS PLAY, IN THIS CASE IT WOULD BE DDI UM, THAT CAN HELP WITH THAT CLEAN AND SAFE COMPONENT OF DOWNTOWN WHERE YOU REALLY DON'T HAVE THE BY STATE LAW, WE NEED TO PUT MONEY INTO CAPITAL PROJECTS.
OH, YOU KNOW WHAT I MISSED THAT I WANTED TO MENTION.
SORRY, I THOUGHT I WAS GONNA, HARWOOD PARK OPENED SEPTEMBER 23RD WITHIN THIS FISCAL YEAR AND ALTHOUGH IT'S JUST OUTSIDE OF FARMER'S MARKET, ONE OF THE GOALS AND OBJECTIVE OF THE DISTRICT IS TO CONNECT FARMER'S MARKET TO A OTHER AREAS OF DOWNTOWN.
SO THAT PROJECT DID ACTUALLY RECEIVE, UM, CITY CENTER TIP DISTRICT FUNDS.
I OVERSEE THAT TIP DISTRICT AS WELL.
[00:30:01]
THOUGH IT WAS OUTSIDE OF THE BOUNDARY, THERE ARE SOME, UM, ELIGIBLE EXPENDITURES THAT CAN BE USED OUTSIDE OF THE BOUNDARY, AFFORDABLE HOUSING AND AREAS OF PUBLIC ASSEMBLY AND IN SOME CASES INFRASTRUCTURE.SO WE SPEND, UM, $2.6 MILLION OF CITY CENTER TIP DOLLARS FOR HARWOOD PARK AND PRETTY EXCITED THAT THIS COMPLETE, UM, UNFORTUNATELY I'M HAVING TO REDO THE FOUNTAIN IF ANYONE WAS WONDERING WHAT WAS GOING ON, BUT UM, LIKE THAT'LL BE QUITE REDO.
SO THE CONCRETE WORD FROM MY UNDERSTANDING, BUT I'M NOT SURE.
SO THAT'S NOT MY OR THAT, THAT'S JUST HEARSAY.
THAT'S PROB THAT COULD BE VERY FAR FROM WHAT ACTUALLY HAPPENED.
YEAH, I HAVE A COUPLE COMMENTS, BUT I'LL, I'M, YOU HAVE ANY FOLLOW QUESTION? SO, UM, AT THIS TIME, THANK YOU SO MUCH MS. PARK FOR THAT OVERVIEW AND FOR THE HIGHLIGHTS.
UM, WE'VE HAD A VERY, VERY BUSY AND UH, REALLY EFFECTIVE YEAR.
SO THIS TIME I'LL ASK FOR ANY COMMENTS.
I JUST WANNA SAY OUR PARK IS MAGNIFICENT.
UM, AND I ALSO WANTED TO VOLUNTEER TO THE EXTENT YOU NEED HELP AND THIS DOES SORT OF TIE INTO THIS WHOLE, IN FACT, IT'S THE PAGE THAT TALKS ABOUT
I DIDN'T PRINT OUT THIS WHOLE THING, I JUST PRINTED OUT THE PAGE WHERE I WANTED.
UM, UNDER GOAL FOUR, IMPROVE PEDESTRIAN TRANSIT, THE PARTICULAR CONNECTION FROM THE FARMER MARKET SHIFT TO ALL THESE OTHER PARTS OF DOWNTOWN.
AND THEN YOU HAVE A PARAGRAPH THAT MENTIONS ABOUT HARWOOD PARK.
AND BASICALLY I JUST WANTED TO COMMENT SINCE I'M SOMEONE LUCKY ENOUGH TO BE RETIRED NOW THOSE OF YOU WHO KNOW, WE KNOW I'M ALWAYS WALKING AROUND OR RIDING MY BIKE AND I WAS ACTUALLY ASKED TO BE ON THIS TIP BOARD BY DDI, SOMEBODY AT DDI AND I'VE HELPED THEM TOO.
BUT I AM MORE THAN HAPPY TO HELP YOU ALL.
MY COMMENT IS BASICALLY ANYTHING I CAN DO TO HELP YOU BECAUSE THERE ARE A LOT OF IMPROVEMENTS THAT YOU NEED AS FAR AS, YOU KNOW, SAFETY AND ALL THAT.
UM, AND THAT GOES FOR DDI, YOU KNOW, PASSING ON MY, MY ANYTHING I CAN DO 'CAUSE I'M KIND OF BOOTS ON THE GROUND SURE TOO.
AND CAESAR CHAVEZ THING, I'M, I'M NOT SURE IF EVERYONE'S HEARD BUT IT, WE LIVE RIGHT BY CAESAR CHAVEZ AND UM, CANTON ONE BUILDING IN AND IT IS PRETTY SCARY AND, AND SOMEONE ACTUALLY DID GET HURT WHEN A CAR CRASHED TO DO ALL HEAR ABOUT THAT CAR WAS SPEEDING ON CESAR CHAVEZ AND I DIDN'T GET WHOLE STORY.
YOU MIGHT HEARD MORE REMINDED BUT LIKE CRASHED INTO A TOWN HOME AND HEARD A PEDESTRIAN.
I MEAN IT'S A SERIOUS SITUATION.
IT'S RIGHT BY EAST QUARTER TOWN HALL.
SO THAT, IT'S GREAT TO HEAR THAT Y'ALL ARE WORKING ON THAT.
AND THOSE, WHAT THEY PUT IN LIKE YEAR AGO ON CEDAR CHAVE, JUST TRY TO, THE TRAFFIC SLOW DOWN.
I MEAN I KNOW THEY'VE HAD TO TAKE THEM OUT 'CAUSE THEY DIDN'T REALLY WORK, BUT THEY ACTUALLY MADE THINGS WORSE.
THEY WERE ON HARDWOOD OR ON CESAR S SO RESIDENTS HATED THEM BECAUSE THEY, THEY SHINE WRONG.
SO WHETHER YOU'RE ON YOUR BIKE, IT'S HARD TO RIDE YOUR BIKE ON CAESAR CHAZ AFTER THAT YOU HAD TO ALWAYS GO ON THE SIDEWALK AND, BUT THERE'S SOMETHING, WHEN I WAS IN MY CAR IT WAS HARD TO SEE THAT.
I DON'T KNOW, IT'S JUST WEIRD.
SO I'M GLAD THEY TOOK THEM AWAY.
UM, AND THEN THIS IS SUPER HEAVY, BUT IN CASE WE CARE, PAGE NINE WHERE IT SAYS THE PROJECTS WITHIN TIF DISTRICT NOT UTILIZING TIF DISTRICT FUNDS BOTTOM ONE TOWN HOME PROJECT SAYS IT'S UNDER CONSTRUCTION, WHICH THEY EXPECTED COMPLETION NEXT YEAR, BUT THEY DID STOP THE CONSTRUCTION.
SO I DON'T KNOW IF THAT'S CONSIDERED ACCURATE AND I DON'T, IT EVEN MATTERS 'CAUSE THEY'RE NOT USING TIF FUNDS.
WE'VE BEEN HESITANT TO TAKE IT OFF 'CAUSE THERE WERE SO MANY STOPS AND STARTS THAT MAYBE GIVE THEM ONE MORE YEAR TO SEE IF THEY START AGAIN.
IT WOULD FRANKLY, I WOULD LOVE IT IF THEY WOULD START BECAUSE IT WOULD BE, THAT WOULD BE THE PERFECT USE OF THAT PROPERTY.
BUT I JUST ON THE OFF CHANCE Y'ALL DIDN'T KNOW ABOUT IT, I JUST WANTED, IT'S LIKE RIGHT ACROSS FROM, SO WE KNOW IT'S IF THEY FI I CAN'T IMAGINE THEY COULD FINISH IT IN 2024 SINCE IT'S KIND OF ALL GRASS MATTER.
BUT ANYHOW, IS THAT, IT'S THE TOWN HOME PROJECTS ON CANTON.
IT'S THE PORTION OF IT THAT WOULD END UP FRONTING ON COMMERCE STREET.
IT'S SO IN BETWEEN, UM,
[00:35:01]
CAESAR SHOP AND THAT BIG STORAGE UNIT THING.IT'S ON THIS, THERE'S, I GOT IT'S ON THE BACK HERE ON THE BACKSIDE.
YOU KNOW WHERE WE'RE TALKING ABOUT MARK? YEAH, I'VE GOT IT NOW.
I KNOW WHAT YOU'RE TALKING ABOUT.
KING NUMBER NINE ACROSS THE RIGHT.
OH, MR. BE SO I I HAVE NO OTHER COMMENTS.
I JUST WANNA SAY THANK YOU FOR ALL THE HARD WORK AS SHE THANK IT.
LET, LET, LET ME CHIME IN BECAUSE USUALLY I HAVE A BIG NOTE TO REMIND THE BOARD, UM, TO ALLOW US TO MINOR OUR EDITS AS THIS MOVES.
IT'LL GO TO COUNCIL AT THE END OF FEBRUARY.
BUT OUR AWESOME ACCOUNTING TEAM, OF WHICH MANY SEVERAL ARE ON THIS, UM, UH, CALL THIS MEETING.
THEY GOT THE, USUALLY IT'S THE ADMINISTRATIVE COSTS THAT TAKE A LONG TIME FOR IT TO BE CALCULATED, BUT THEY ARE ACTUALLY EMBEDDED IN HERE.
EVERY OTHER BOARD I'VE HAD TO SAY, PLEASE ALLOW, ALIGN OUR EDITS.
THE ADMIN NEEDS TO BE ADDED IN.
SO I'M STILL GONNA ASK IN CASE WE NOTICE ANYTHING AS THIS MOVES THROUGH.
BUT, BUT THE BUDGET IS IN GOOD SHAPE.
SO ARE THERE COMMENTS? DO HAVE ONE QUESTION? UM, THE GOAL THAT YOU HAD AND HIGHLIGHTED NUMBER FOUR ON PAGE 14, YOU MENTIONS THE D LINK.
IS THAT UP AND RUNNING OR IS IT LAYOUT? IT SAYS IT STOPPED IN THE WRITEUP.
YEAH, IT IN 2018 THE WRITEUP IS ACCURATE.
I TOO, I REALLY DO BECAUSE IT WOULD BE SO WONDERFUL FOR OUR LAWSUIT TO BE ABLE TO HOP ON THE
UM, BECAUSE IT CAN BE A LITTLE TREACHEROUS KIND OF RIGHT.
GOING BY THE STUDENT MOD SOMETIMES.
IT IS NO LONGER OPERATING, BUT PERHAPS IT'S WORTH DISCUSSIONS WITH OUR AND OUR TRANSPORTATION FOLKS.
IT WOULD JUST, IT WOULD JUST BE, IT WOULD BE GOOD.
IT WOULD BE GOOD IN A LOT OF WAYS FOR A LOT OF DIFFERENT YEARS OF TOWN.
I THINK HE, I WAS A HUGE FAN OF IT.
AND EVEN MY 90 SOMETHING YEAR OLD MOM USED TO USE IT TO GO TO THE ARTS DISTRICT.
WE LEASE IT SO WE'RE KIND SAD TO SEE IT GO.
AND ACTUALLY I DO HAVE ONE MORE QUESTION.
YOU MENTIONED THE SHED AND WHEN WE'RE TALKING ABOUT THE PARKING AND WHAT YOU SAID ABOUT THE PARKING, I THINK THAT'S A GREAT SOLUTION.
BUT YOU MENTIONED THE SHED BEING OPEN FRIDAY, SATURDAY, SUNDAY.
WELL IT, WHEN IT, WHEN IT FIRST GOT THIS CURRENT SYSTEM, IT WAS OPEN ON FRIDAY BUT NOW IT'S ONLY SATURDAY AND SUNDAY.
BUT I MEAN I DON'T KNOW IF FRIDAY WAS NEVER CROWDED, BUT I DIDN'T KIND OF LIKE THE IDEA.
I THINK THAT THE MAIN MARKET ON FIRST FRIDAYS.
SO WHERE THEY BRING OUT MORE OF THE MAKERS.
IT'S NOT ANY OF THE FARMERS BUT IT'S NORMALLY IN THE PATHWAY.
IT'S NEAR IT BUT NORMALLY NOT UNDER IT.
OTHER QUESTIONS, COMMENTS? SO THAT IS OUR CALL AT THIS TIME.
I'LL TAKE UH, RECOMMENDATIONS, UH, FOR OUR ACTION ITEM, UM, WHICH IS APPROVAL AND TO FORWARD A RECOMMENDATION OF APPROVAL TO THE CITY COUNCIL FOR, UM, THE FISCAL YEAR 20 22, 23, UH, FARMER'S MARKET T FOR DISTRICT ANNUAL REPORT.
SO AT THIS TIME I'LL ENTERTAIN THE MOTIONS.
I'M, WE ACCEPT THE REPORT AND RECOMMEND APPROVAL TO THE CITY COUNCIL WITH SPACE TO UPDATE ANY ADMINISTRATIVE COSTS OR, ANYWAY, THANK YOU.
SO WE HAVE A MOTION WITH BY DR. CARTER A SECOND.
AND I'M SORRY, SHOULD THE SECOND, DID YOU GET THAT DAR? I DID.
SO AT THIS TIME WE'LL CALL AND I'LL ASK FOR VOTE.
VOTE AT THIS VOTE VOICE VOTE AT THIS TIME.
ALL THOSE IN FAVOR PLEASE SIGNIFY BY SAYING AYE.
ALL RIGHT, THE MOTION CARRIES.
OUR LAST AGENDA ITEM I IN THE BACK OF YOUR PACKET, THERE SHOULD HAVE BEEN, UM, THE MEETING SCHEDULE, JUST ONE PAGE DOCUMENT.
UM, WE HAVE QUARTERLY MEETINGS.
UM, OUR NEXT ANTICIPATED MEETING, UH, WOULD BE FOR THE FIRST QUARTER WILL BE MARCH OF 2024.
UM, BUT IT WOULD BE MONDAY, MARCH, UH, 11TH AT 11:00 AM UM, UH, SECOND QUARTER WOULD
[00:40:01]
BE MONDAY, JUNE 10TH, 2024.THIRD QUARTER WOULD BE MONDAY, SEPTEMBER 9TH, 2024.
FOURTH QUARTER WOULD BE MONDAY, DECEMBER 9TH, 2024.
ALL THESE MEETINGS ARE AT 11:00 AM AND OUR MEETINGS ARE ONLY HELD IF WE HAVE BUSINESS TO CONSIDER.
SO AT THIS TIME, IF YOU'VE HAD A CHANCE TO REVIEW THE SUGGESTED OPTIONS AND AT THIS TIME I'LL BE TAKING RECOMMENDATIONS FOR APPROVAL OF THE UH, 2024 QUARTERLY REGULAR MEETING DATES.
AT THIS TIME I'LL CALL AND AT THIS TIME, ALL THOSE IN FAVOR PLEASE SIGNIFY.
LET ME JUST MAKE NOTE ON THAT.
UM, THE CITY SECRETARY'S OFFICE LIKES US TO HAVE A SET SCHEDULE.
THESE ARE WHAT WOULD BE CONSIDERED YOUR REGULAR MEETING SCHEDULE.
IF YOU DON'T HEAR FROM ME APPROXIMATELY TWO WEEKS BEFORE, ASSUME THAT THERE'S NO BUSINESS TO CONSIDER AND WE WILL NOT HOLD THE MEETING JUST AS EASILY AS HAVING A REGULAR MEETING.
WE CAN ALWAYS HAVE A, WHAT WE CALL A SPECIAL CALL MEETING.
REALLY, IT JUST MEANS IT'S NOT, DOESN'T FALL ON ONE OF THOSE FOUR DATES.
SO IF THERE IS ACTION TO CONSIDER, I'LL GIVE YOU ABOUT TWO WEEKS NOTICE FOR A DIFFERENT DATE JUST TO LET YOU KNOW.
WELL THAT WAS OUR LAST AGENDA ITEM.
I WOULD LIKE TO WISH EVERYONE A VERY HAPPY HOLIDAY.
THANK YOU SO MUCH FOR MEETING, I KNOW HOW BUSY EVERYONE IS THIS TIME OF YEAR.
SO THANK YOU FOR CARVING OUT TIME.
UM, WE WILL MOVE TO ADJOURN OUR MEETING.