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[Dallas Housing Finance Corporation on December 12, 2023]
MEETING TO ORDER.UM, AND, UH, AND I WILL JUST HAVE, UH, MS. SCHROEDER, DO THE ROLL CALL, PLEASE? YES.
WOULDN'T I STATE YOUR NAME? PLEASE LET US KNOW IF YOU ARE PRESENT.
PRESENT DIRECTOR PATTY COLLINS.
PRESENT DIRECTOR KEVIN HINTON PRESENT.
JUST REMEMBER TO, UH, KEEP YOUR CAMERA ON WHILE WE'RE MEETING, UH, DIRECTOR, EXCUSE ME, VICE PRESIDENT RYAN GARCIA.
PRESENT DIRECTOR JOSHUA VERNON SAID HE'LL NOT BE ABLE TO ATTEND.
UH, SECRETARY ANTHONY PAGE PRESENT AND DIRECTOR SEAN SADIE PRESENT.
UM, OKAY, I WILL NOW CALL FOR PUBLIC COMMENTS ON AGENDA ITEMS FOUR THROUGH EIGHT.
UM, SO I'LL PAUSE FOR A FEW MOMENTS IN CASE ANYBODY WHO IS ONLINE WANTED TO MAKE ANY PUBLIC COMMENTS.
UM, I'LL MOVE ON TO AGENDA ITEM NUMBER FOUR, APPROVAL OF THE MINUTES FOR THE NOVEMBER 14TH, 2023, CITY OF DALLAS HOUSING FINANCE CORPORATION MEETING.
UM, AND SO, UH, IF WE COULD PUT A MOTION ON THE FLOOR, THEN WE CAN ASK FOR IF THERE'S ANY CORRECTIONS.
UM, AND DO I HEAR A SECOND? SECOND? WHO WAS THAT? DIRECTOR ALLEN.
SO DOES ANYBODY HAVE ANY CORRECTIONS OR COMMENT ON THE MINUTES? OKAY.
ANY OPPOSED? ALRIGHT, WE HAVE APPROVED THE MINUTES.
THIS IS RESOLUTIONS FOR THE ESTATES AT FERGUSON.
A MULTI-FAMILY RESIDENTIAL DEVELOPMENT TO BE LOCATED AT 92 20 FERGUSON ROAD IN THE CITY OF DALLAS, DALLAS COUNTY, TEXAS.
UM, MR. E QUINTO, ARE YOU SURE? I'M, I'M HERE.
UM, SO WE HAD A LITTLE HICCUP IN THE FUNDING ON FERGUSON.
IT LOOKED LIKE SOME OF THE CITY LOAN FUNDS WEREN'T GONNA BE ABLE TO CLOSE BEFORE THE BONDS EXPIRED.
AND SO WE DID A LITTLE LAST MINUTE WRANGLING HERE IN THE HOUSING DEPARTMENT, FOUND ANOTHER SOURCE OF FUNDS.
UH, AND SO REALLY WE'RE JUST SWAPPING THEM OUT.
NOTHING REALLY IS CHANGING AS TO THE FORM OF THE TRANSACTION, JUST THE SOURCE OF THE FUNDS.
UM, AND SO WE ARE JUST BRINGING FORTH THIS RESOLUTION, UH, REFLECTING THAT.
SO DOES ANYONE HAVE ANY QUESTIONS? ARE YOU ALLOWED TO DISCLOSE THE REASON FOR THE DELAY? UM, SO I THINK THE TECHNICALITIES WERE THAT THERE WERE SOME ENVIRONMENTAL, I GUESS, BENCHMARKS AND, AND A HUD RELEASING OF FUNDS THAT WASN'T GONNA HAPPEN BEFORE THE DECEMBER 23RD DEADLINE FOR THIS.
UM, SO WE HAD TO QUICKLY FIND ANOTHER SOURCE OF FUNDS AND, AND REPLACE THOSE SO THAT WE WOULDN'T LOSE OUR BOND ALLOCATION PER SHARE.
ANY OTHER QUESTIONS? ALRIGHT, I, OH, SORRY, GO AHEAD.
SO THE, UM, THE FUNDS WERE BROUGHT IN ARE FROM THE, UH, FEE AND L PROGRAM.
IS THAT RIGHT? THAT'S CORRECT.
AND SO, AND, AND THE HUD FUNDS COULDN'T COME IN BEFORE.
SO THIS, SO THE FUNDS FROM THE V AND L PROGRAM WERE BEING USED, ARE THOSE, IS THAT GONNA BE PERMANENTLY IN THERE OR WILL THE HUD FUNDS THEN INCOME IN AND THEN WILL THAT MONEY GO BACK TO THE VML UH, POCKET?
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UM, FROM WHAT I UNDERSTAND, THIS IS A LOAN AND SO IT WILL GO BACK TO THE, UH, TO THAT PROGRAM WHEN IT, WHEN IT'S REPAID, BUT IT WILL NOT BE REPLACED BY THE CYNTHIA, YOU SAID YOU WANTED TO I DON'T THINK THAT'S CORRECT.UM, BECAUSE IT, UH, THERE IS A WAY FOR THE BORROWER TO HAVE IT SORT OF BECOME A GRANT.
IN OTHER WORDS, IF THEY FULFILL CERTAIN CONDITIONS, I THINK IT BECOMES A GRANT REPAYMENT GETS EXCUSED.
SO WHO'S, IS ANYONE ON FROM CHAPMAN? RYAN, ARE YOU ON THE LINE HERE? YEAH, LET ME, UH, GET MY, THERE WE GO.
THESE, THESE ARE FORGIVABLE, BOTH RYAN BOWEN AND RACHEL JENSEN FROM CHAPMAN ARE ON THE LINE.
UM, THE BOTH OF THESE, UM, THE CITY LOAN SOURCES DO HAVE A FORGIVENESS COMPONENT TO THEM.
UM, SO THE BORROWER CAN, UH, REQUEST THAT THESE LOANS BE FORGIVEN, UM, AT WHICH POINT THERE'S NO REPAYMENT BACK INTO THE FUND.
AND SO HOW MUCH DOES THAT PORTION OF THE CAPITAL STACK THAT IS? IT'S ABOUT 8 MILLION, YEAH.
UM, AND MY ONLY CONCERN IS THAT THE, THAT BUCKET IS PRETTY OF THOSE, IT'S A BIG PART.
HOW MUCH IS IN THE FEE AND MOVE PROGRAM RIGHT NOW? YEAH, SO THAT'S, THAT'S A LARGE PORTION OF THAT BEING LOW CASH.
THERE'S CURRENTLY, UM, AFTER THIS $2 MILLION AND THE MILLION DOLLARS IS FOR ADMIN AND THE OTHER MILLION IS FOR HOME REPAIR, EMERGENCY HOME REPAIR.
SO WE'RE TAKING MOST OF THE FEE AND L PROGRAM PUTTING INTO IT.
ANY OTHER QUESTIONS? UH, JUST FOR A POINT OF CLARIFICATION, UM, IF THIS PROJECT DOES NOT HAVE THE, THE FEE AND L FUNDS, IT'S NOT GONNA BE ABLE TO MEET ITS BOND RESERVATION WILL NOT MOVE FORWARD, CORRECT? CORRECT.
THEY, THEY WOULD HAVE TO THEN GO INTO NEXT YEAR'S BOND, UM, APPLICATION, WHICH I THINK WE DID PUT IN A BACKUP APPLICATION, BUT AT THAT POINT THEY GOT LIKE A VERY POOR NUMBER.
THEY, THEY WOULD NOT GET A 2024 ALLOCATION UNTIL MUCH LATER IN THE YEAR? DEFINITELY NOT INITIALLY.
MAYBE I'M JUST THINKING OUT LOUD, BUT IT, IT, I THINK THIS IS PROBABLY WHAT THE FEE AND LOU IS MEANT TO BE FOR AND HELP GET THIS PROJECT.
IT, IT'S UNFORTUNATE THAT'S USING SO MUCH OF IT, BUT I I WOULD ARGUE THAT THAT'S EXACTLY WHAT THE FEE AND LOU IS MEANT TO DO.
BUT AGAIN, THAT'S JUST ME THINKING OUT LOUD.
THE, THE MONEY IS THERE FOR DEVELOPMENT PROJECTS.
AND LET ME SAY A LITTLE MORE ABOUT WHY WE HAD TO DO THIS.
THE C-D-B-G-D-R FUNDS ARE A STIMULUS PROGRAM AND WE RECEIVED THAT, UH, ALLOCATION FROM HUD A YEAR OR SO AGO, MAYBE EVEN TWO YEARS NOW.
THE GRANT AGREEMENT WAS NOT EXECUTED UNTIL LAST YEAR.
THAT'S THE GRANT AGREEMENT BETWEEN THE CITY AND HUD.
THERE WAS NOTHING ELSE WE COULD DO TO GET THAT GRANT AGREEMENT SIGNED ANY FASTER.
AND THAT DELAYED US BEING ABLE TO GET THE ENVIRONMENTAL REVIEW THAT'S REQUIRED WITH FEDERAL FUNDS.
SO THE ONLY OTHER OPTION WE HAD IS TO USE, UH, THE M-I-H-D-B CASH THAT'S AVAILABLE.
AND YES, THIS WAS KIND OF A LUCK THING BECAUSE WE JUST GOT THIS LARGE ALLOCATION AT THE SAME TIME WE HAD THIS ISSUE, SO WE WERE ABLE TO COVER THIS PROJECT AND NOT LOSE THE OPPORTUNITY FOR AFFORDABLE HOUSING.
SO YEAH, WE WILL BE USING THE POT, BUT THAT'S WHAT IT'S MEANT FOR.
ANY OTHER QUESTIONS? ALL RIGHT.
I WILL ENTERTAIN A MOTION TO APPROVE, UH, ITEM NUMBER FIVE ON THE AGENDA.
I'LL MOVE TO APPROVE ITEM NUMBER NINE ON THE AGENDA.
AND, UH, DO I HAVE A SECOND? I APPROVE.
DIRECTOR ALLEN IN FAVOR? UH, DIRECTOR PHARAOH.
TREASURER PHARAOH IN FAVOR, DIRECTOR COL IN FAVOR,
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DIRECTOR HINTON IN FAVOR.IN FAVOR, PRESIDENT MYSELF IN FAVOR, UM, DIRECTOR MOORE.
UM, SECRETARY PAGE IN FAVOR AND DIRECTOR ZADY FAVOR.
OKAY, NEXT, UH, ITEM IS TO CONSIDER AND ADOPT THE CORPORATION'S 2024 ANNUAL BUDGET.
THANK YOU PRESIDENT HEALTHMAN.
UM, SO WE TRY TO PUT TOGETHER A PRELIMINARY DRAFT OF THIS BUDGET SO YOU GUYS CAN TAKE A LOOK AT, UM, AND I GUESS MULL OVER HERE SO THAT WE CAN TALK ABOUT IT RIGHT NOW.
I'M NOT GONNA READ YOU LINE BY LINE, BUT I'LL, I'LL KIND OF POINT OUT SOME OF THE MAJOR THINGS THAT CHANGED.
UM, SO BASICALLY WE HAVE ABOUT $4 MILLION OF ESTIMATED INCOME NEXT YEAR AND THEN ABOUT 800,000 IN EXPENSES.
UM, A LOT OF THESE REALLY ARE JUST BASED ON OUR NEW DEALS THAT WE'RE ESTIMATING WE'RE GONNA CLOSE.
UM, AND THEN MOST OF THE EXPENSES, HONESTLY, LAST YEAR'S EXPENSES WERE ABOUT 300,000.
WE JUST HAD LIKE AN EXTRA, WE'LL, WE'LL SAY A PLACEHOLDER IN THERE FOR LIKE THE STAFFING EXPENSE BECAUSE WE KNOW YOU GUYS ARE PENDING MEETING WITH YOUR, YOUR TASK FORCE TO ASSESS THE STAFFING.
SO WE JUST PUT LIKE A $500,000 JUST PLACEHOLDER IN THERE.
SO THAT'S SUBJECT TO CHANGE, OBVIOUSLY BASED ON WHAT YOU GUYS DETERMINE IN THAT TASK FORCE.
UM, SO THAT'S REALLY THE BIG VARIANCE THERE.
OTHER NOTABLE ITEMS, UM, WE INCREASED A LITTLE BIT FOR SOME TAP AND, AND TELEPHONE MEMBERSHIPS.
UM, AND THEN ALSO FOR ACCOUNTING, SINCE WE HAVE A LOT MORE DEALS THAT ARE OPERATING NOW AND, AND A LOT MORE ACCOUNTING WORK THAT'S BEING DONE EVERY MONTH.
UM, THOSE, THOSE ARE JUST BEING INCREASED.
PLUS WE HAVE TO CATCH UP ON A FEW OF OUR AUDITS, SO THAT'S INCREASING A LITTLE BIT TO OUR ACCOUNTING EXPENSE FOR THIS NEXT YEAR.
UM, BUT OTHER THAN THAT WE JUST, YOU KNOW, TRY TO INCREASE MODERATELY WHAT OUR ACTUALS WERE FROM LAST YEAR AND TRY TO KEEP IT, UH, STATUS QUO.
SO IF YOU GUYS HAVE ANY QUESTIONS, WE'RE WILLING TO ENTERTAIN THEM AND UH, ASK THEM HERE.
UH, IN TERMS OF THE PROJECTIONS, BASED ON WHAT WE EXPECT TO CLOSE, UH, I SAW THAT THE DOMAIN AT MIDTOWN IS ONE OF THOSE THAT WAS CONSIDERED, HAS THAT BEEN ADJUSTED TAKE INTO CONSIDERATION THAT THEY'VE WITHDRAWN? SO THAT IS BACK ON.
UM, THEY, THEY ACTUALLY ARE GOING TO BE RATE LOCKING THIS WEEK AND SET TO CLOSE, UM, TOWARDS THE BEGINNING OF FEBRUARY ACTUALLY.
SO THAT SHOULDN'T BE TOO MUCH LONGER.
OTHER QUESTIONS? UM, CAN YOU TELL ME WHAT THE COMPLIANCE FEES ARE FOR COMPLIANCE FEES? IT'S LIKE 1500 BUCKS PER PROJECT ON SALE.
SO THOSE ARE IN OUR APPLICATION.
UM, IT'S JUST KIND OF A SET FEE THAT WE CHARGE AS PART OF THE PROCESSING.
GEORGE, YOU CAN ADD THAT'S IN.
UM, THAT'S ALWAYS JUST BEEN PART OF THE APPLICATION PROCESS, ESPECIALLY FOR THE TAX CREDIT, UH, DEALS.
UM, DO YOU THINK IT COVERS OUR COST? I MEAN, IT JUST SEEMS VERY LOWS.
LIKE I, IT SEEMS LIKE IT'S HARD TO GET MUCH DONE ALLY FOR 1500 BUCKS.
WAS THIS, DO WE HAVE ANY FLEXIBILITY OF RAISING IT? UH, I MEAN HONESTLY WHAT, WHAT YOU GUYS WANNA CHARGE FOR THE APPLICATION FEES IS REALLY, I MEAN WE, WE ARE INTENDING ON OVERHAULING THE APPLICATION.
SO WE COULD TAKE A LOOK AT THAT THIS YEAR AND, YOU KNOW, THAT COULD ALSO BE PART OF THAT, THAT CONVERSATION AND YOUR STAFFING TASK FORCE, YOU KNOW, WHAT, WHAT DOES EVERYTHING REALLY COST AND, UH, WHAT DO WE WANNA CHARGE IF YOU WANNA UP THE APPLICATION FEES OR
BUT I WAS THINKING THAT THE COMPLIANCE IS DONE BY THE CITY SET.
SO THAT'S, THAT'S GONNA BE PART OF THAT CONVERSATION.
WE HAVE PLANNED TO HIRE SOME MORE PEOPLE FOR STARTED COMPLIANCE, UM, MONITORING WITH, WE'RE MEETING WITH THE, UM, HSC STAFF, UM, I THINK AT THE BEGINNING OF THE YEAR, MAYBE EVEN SOONER.
BUT WE'RE WORKING WITH THEM ON CREATING A MONITORING PLAN AND UH, ESTABLISHING WHAT, WHAT NEEDS TO BE MONITORED AND HOW IT NEEDS TO BE DONE.
BUT YES, IT WILL BE IN CONJUNCTION WITH THE PLAN THAT WE'RE CREATING WITH THEM.
AND I, I WOULD ADD THAT ALL THE PROJECTS THAT
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HAVE CITY LOANS ON THEM ARE, ARE BEING ACTIVELY MONITORED BY THE COMPLIANCE TEAM.JUST, JUST, YEAH, JUST STRIKES ME AS INTUITIVELY LOW, LIKE A LOW NUMBER.
AND UM, I WAS THINKING THAT IT HAS TO DO WITH LITECH THAT $1,500.
RYAN, DO YOU KNOW, I THOUGHT IT'S GENERALLY LIKE A PART OF THE LITECH PROCESS.
IT COULD JUST BE ONE OF THOSE LEGACY THINGS THAT, YOU KNOW, NO ONE HAS EVER REALLY QUESTIONED.
OH, SO YOU DON'T THINK THAT IT'S SOMETHING THAT'S IN THE LITECH REGULATIONS OR ANYTHING? WELL, I, I KNOW WE HAVE OUR ISSUER FEES AND OUR ADMINISTRATIVE KIND OF, UH, RIGHT FEE THERE THAT, THAT TAKES CARE OF A LOT OF THAT.
IT WE SHOULD FIGURE OUT, I THINK WE SHOULD FIGURE OUT WHAT THAT $1,500 IS, WHY IT'S THERE AND WHETHER IT NEEDS TO CHANGE.
YEAH, THAT'S, YEAH, THAT'S MY CONCERN IS JUST, I, I WHATEVER IT'S FOR JUST, I DON'T KNOW, LIKE THESE ARE BIG PROJECTS LIKE WHAT, WHAT YOU CAN GET DONE FOR $1,500.
UM, MONITORING IT SOUNDS LIKE SOMETHING THAT WOULD COST MORE THAN 1500 BUCKS.
HISTORICALLY, I, I BELIEVE IT WAS TO, THERE WAS ACTUALLY ONE OF THE BOARD MEMBERS YES.
WHAT WAS GOING FROM PROJECT TO PROJECT AND REVIEWING THE REPORTS.
WELL, BUT I ALSO THINK THAT WE WERE SUPPOSED TO BE REVIEWING THE SERVICE PROVISION, YOU KNOW, THOSE THINGS THAT ARE IN THE LITECH APPLICATION.
WELL, THERE THAT WAS MORE JUST UNDER THE REGULATORY AGREEMENT, WHICH IS SEPARATE, APART FROM THE, THE LITECH WAS TO, TO MONITOR COMPLIANCE, SOCIAL SERVICES AND THEN JUST THE GENERAL TENANT MIX.
YEAH, THAT'S MY RECOLLECTION ALSO.
UM, BUT I THINK THAT IT'S A EXCELLENT SUGGESTION THAT WE LOOK INTO THAT FURTHER.
UM, ANY OTHER QUESTIONS? OKAY, THEN I WILL ENTERTAIN A MOTION TO APPROVE THE BUDGET.
UM, DON'T WE GET LIKE, SOME KIND OF NOMINAL ASSET MANAGEMENT FEE ON THE TWO BOND DEALS, THE ESSENTIAL FUNCTION BOND DEALS? I KNOW IT'S NOT A LOT OF CASH FLOW, BUT I THOUGHT THERE WAS AT LEAST SOMETHING.
I MEAN, I THINK IT WAS LIKE 10 GRAND.
I MEAN, IT WAS LIKE NOTHING, BUT I JUST DIDN'T SEE IT ON THERE.
I, I, BECAUSE YEAH, I THOUGHT THERE WAS YEAH, A FEE.
YEAH, I I THINK WE DO GET, YOU KNOW, LIKE SMALL POINTS.
BUT WHAT I CAN DOUBLE CHECK AND AND ADD THAT IN THERE.
SO IF ANY MOTION JUST INCLUDES, JUST KINDA LOOKING INTO THE, THE DYLAN AND THE BRISCOE AND IF THERE IS A, YOU KNOW, AN ASSET MANAGEMENT, BE IT, BE INCLUDED INTO THE, UH, BUDGET.
YEAH, I, I THINK THERE IS SOMETHING.
SO I DON'T KNOW, DO WE WANNA MAKE THE MOTION, UM, CONTINGENT ON PERHAPS GETTING BETTER INFORMATION ON THE COMPLIANCE FEE AND WHETHER THERE'S SOME REVENUE THAT NEEDS TO BE ADDED IN FROM THE DYLAN AND THE BRISCOE? YES.
SO IF SOMEONE WANTS TO MAKE THE MOTION SUBJECT TO THOSE TWO THINGS, SO MOVED SECOND.
DIRECTOR ALLEN, CAN I JUST, OH, SORRY.
THOSE OF YOU TAKING NOTES HERE, JACKIE, YOU GUYS GOT THAT? OKAY.
JUST WANT TO GET THE WORDING RIGHT? YES.
UH, TREASURER PHARAOH IN FAVOR? UH, DIRECTOR COLLINS.
IN FAVOR, UH, VICE PRESIDENT GARCIA.
UM, DIRECTOR MOORE IN FAVOR AND SECRETARY PAGE IN FAVOR AND DIRECTOR ZADY FAVOR.
UM, SO NEXT IS, UH, REVIEW AND DISCUSSION.
THIS ONE DOESN'T NEED ANY VOTE
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THE TREASURER'S REPORT.ALRIGHT, DO WE HAVE KRISTEN ON THE LINE? I DON'T SEE HER.
UM, SO OUR TREASURER'S REPORT IS THROUGH SEPTEMBER.
UM, YOU KNOW, WE KIND OF WENT THROUGH THE BUDGET JUST NOW, BUT REALLY I CAN JUST RESTATE WHAT, WHAT'S HAPPENING HERE.
ALRIGHT, SO AS OF SEPTEMBER 30TH, OUR TOTAL CASH AND CASH EQUIVALENCE IS ABOUT 13.6 MILLION.
UM, FOR THE FIRST NINE MONTHS, OUR INCOME TOTAL ABOUT 2.6 MILLION.
UM, THAT WAS A LITTLE HIGHER THAN BUDGETING, WHICH IS GREAT.
THEN THE EXPENSES THROUGH THE FIRST NINE MONTHS WERE ONLY ABOUT 121,000.
UM, THAT WAS JUST 'CAUSE THEY HADN'T TRANSFERRED THE SALARY REIMBURSEMENTS TO THE CITY YET.
BUT WE HAVE ALL THAT ACCOUNTING COMING FOR THE THIRD OR FOR THE FOURTH QUARTER.
SO THAT'LL BE ON THE NEXT TREASURY REPORT.
UM, BUT I THINK THE NET CHANGE HERE TOTAL $2.5 MILLION.
SO AS OF NOW, I THINK CURRENTLY WE HAVE A, A LITTLE BIT MORE IN OUR ACCOUNTS.
UM, BUT IF YOU HAVE ANY QUESTIONS, WE CAN, WE CAN CERTAINLY TALK ABOUT 'EM.
ARE THERE ANY QUESTIONS? UM, I KNOW I THINK AT OUR WORKSHOP WE TALKED ABOUT AND WE'VE MAYBE AT OUR LAST MEETING ABOUT, UM, AN INVESTMENT POLICY, AN INVESTMENT OFFICER AND ALL THAT.
SO I JUST WANTED TO, WHAT THE STATUS WAS OF, OF THAT.
SO THAT'S, THAT'S CURRENTLY, UH, BEING LOOKED AT HERE.
WE'RE, WE'RE LOOKING AT PUTTING TOGETHER A COUPLE OPTIONS FOR YOU GUYS.
UM, SO WE'RE GONNA SAY, ALL RIGHT, OPTION 1, 2, 3, WHAT DO YOU GUYS LIKE THE BEST? UM, AND THEN WE CAN KIND OF COLLAPSE 'CAUSE WE DID FORM A COMMITTEE AND SO RIGHT.
SO WE'LL, WE'LL NEED TO GET THAT COMMITTEE TO, TO LOOK THOSE OPTIONS OVER.
AND THEN WE'LL BRING KIND OF A FINAL PROPOSAL TO THE BOARD AS YOU CAN DO WHAT YOU GUYS WANNA DO ON THAT AT THAT POINT.
UM, AND SO THE FINAL ITEM ON THE AGENDA IS ITEM NUMBER EIGHT, REVIEW AND DISCUSSION OF THE CORPORATION'S PIPELINE REPORTS.
YEAH, I WOULD JUST HIGHLIGHT, UM, YOU KNOW, IF THERE'S ANY QUESTIONS JUST LET ME KNOW.
I WOULD LIKE TO NOTE THAT BRIDGET LANCASTER IS NOW LEASING UP.
THEY'RE, THEY'RE GOING TO SCHEDULE A, I GUESS A GRAND OPENING NOW SOMETIME WHEN IT GETS A LITTLE BIT WARMER, I THINK.
UM, AND I THINK THEY WANT TO BRING OUT ALL THE BOARD MEMBERS AND WHOEVER ELSE WANTS TO FOR A TOUR.
IT'S, IT'S A REALLY GREAT SITE.
IF YOU HAVEN'T BEEN OUT THERE YET, UM, I WOULD DEFINITELY RECOMMEND GOING OUT THERE AND, AND SEEING IT.
YOU KNOW, IT'S A PRETTY BIG SITE.
THEY HAVE THIS HUGE WALL, YOU KNOW, THAT THEY GO, IT WAS, IT WAS A LOT OF CONSTRUCTION.
I REMEMBER ME AND KYLE WENT OUT TO THE GROUNDBREAKING.
I WAS LIKE, WOW, THIS IS A LOT OF, THIS IS A LOT OF DIRT.
UM, AND IT LOOKS REALLY GREAT RIGHT NOW.
ONE MORE MARK IN THE BOOK ON, ON THE, UH, GOOD JOB DONE.
AND IT'S VERY CLOSE TO THAT, UM, SINGING HILLS REC CENTER, ISN'T IT? CALLED REC CENTER? HILLS REC CENTER, WHICH IS REALLY NICE.
AND IT'S JUST A BEAUTIFUL, UH, THE GEOGRAPHY IS JUST REALLY PRETTY OUT THERE.
I THINK IT'S, I'M, I'M EXCITED TO SEE IT NOW THAT IT'S BUILT.
SO WE DEFINITELY NEED TO SCHEDULE WHERE WE CAN GO OUT AND SEE IT.
ANY OTHER QUESTIONS ON THE PIPELINE REPORT? UM, ONE QUESTION.
WHAT IS, UH, IN THE, LET'S SEE, CITY INVOLVEMENT, WHAT IS RO NO KNOW? OH, THAT'S JUST A RESOLUTION OF THE OBJECTION.
SO IT'S REALLY EITHER DHFC HOUSING OFFICE ECONOMIC DEVELOPMENT, RIGHT? THOSE ARE THE OEDI ASSUME IS, IS THAT CORRECT? YES, THAT'S CORRECT.
AND UM, AND I THINK, UH, FROM THE, UM, I GUESS WE HAD THIS REPORT LAST TIME ABOUT HOW WE DID ON THE, UM, ON THE LOTTERY, RIGHT? SO IT LOOKS LIKE WE WILL HAVE, YEAH, IT LOOKS LIKE, IT LOOKS LIKE WE'LL HAVE A FEW PROJECTS THAT WE'RE GONNA BE, UH, CONSIDERING HERE IN THE EARLY PART OF NEXT YEAR.
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YOU KNOW, GOOD ON US.WE, WE HAVE A LOT IN OUR PIPELINE HERE SO, UH, YOU KNOW, JOB SECURITY FOR THE NEXT YEAR AT LEAST
UM, SO I ONLY HAVE ONE OTHER QUESTION.
DIRECTOR ZADY, DO YOU HAVE THE NEW BABY YET? I DO HAVE THE NEW BABY, YES.
AND SORRY, THAT'S WHY I HAVEN'T BEEN YAY.
ABLE TO COME IN PERSON, BUT YES, WE DID HAVE A LITTLE BOY YESTERDAY.
A HUGE CONGRATULATIONS FROM THE BOARD.
I'LL NOT BE JOINING THE PARTY UNFORTUNATELY.
I HOPE YOU GUYS HAVE A GOOD TIME.
YEAH, STILL MADE IT TO THE MEETING THOUGH.
I THINK YOU'RE PROBABLY KIND OF OCCUPIED.
THAT WAS ALL, ALL THE ADDITIONAL STUFF THAT I HAD.
ANYBODY ELSE? I'LL, I'LL JUST TAKE THIS OPPORTUNITY TO WISH EVERYONE A, YOU KNOW, VERY, VERY WONDERFUL HAPPY HOLIDAYS AND, UM, AND HAPPY NEW YEAR AND, UH, AND WE'LL BE BACK IN JANUARY.
I'LL CALL THE MEETING ADJOURNED AT 1230.