[00:00:02]
[Sports Arena TIF District Meeting on January 25, 2024. ]
UH, JAMES ARMSTRONG HERE.I'D LIKE TO CALL TO OWNER OF THE SPORTS ARENA TEMP DISTRICT, UH, BOARD MEETING.
UH, WE'LL FIRST START WITH, UH, INTRODUCTION OF MEETING PARTICIPANTS AND IF YOU DON'T MIND INTRODUCING YOURSELF, UM, AND PASS IT ON TO SOMEONE ELSE THAT YOU SEE IN THE GALLERY.
UM, HOPEFULLY WE CAN GET THROUGH THIS FAIRLY QUICKLY.
SYLVIA, DO YOU WANNA START? SURE.
CAN YOU HEAR ME? YES, I CAN HEAR YOU.
ANYTHING ELSE THAT'S FINE FOR ME.
UM, LUIS, YOU'RE ON MUTE, LUIS.
UH, LUIS DE MAYO AND I AM THE, UH, DESIGNEE FOR THE COUNTY, DALLAS COUNTY.
JOE MAYER APPOINTEE FOR DALLAS COUNTY HOSPITAL DISTRICT PARKLAND.
UH, MY NAME IS JOHN GALLEGOS AND, UH, I ACTUALLY, UM, SERVING MY SECOND TERM IN THE LAVATA NEIGHBORHOOD ASSOCIATION IN WEST DALLAS.
UM, DO YOU MIND, WILL YOU PLEASE TURN ON YOUR CAMERA SO WE CAN SEE YOU? THANK YOU.
AND WOULD YOU INTRODUCE YOURSELF? CAN YOU HEAR ME? CAN YOU HEAR ME? BARELY.
LET ME SEE IF I CAN TALK LOUD.
THIS, MY NAME IS RICHARD ZALES AND, UH, PARTICIPATE IN THIS MEETING.
WHILE, WHILE JESSICA'S WORKING ON HER VIDEO, UM, WE HAVE REPRESENTATIVES FROM CITY STAFF ALSO IN THE MEETING.
WE HAVE, UM, REPRESENTATIVES FROM OUR FINANCIAL DIVISION HERE IN ECONOMIC DEVELOPMENT ON THE MINE AS WELL.
AND THEN WE ALSO HAVE, UH, JOSETTE ROSA WHO IS PROVIDING THE TECHNICAL SUPPORT.
AND MY NAME IS TAM LEE AND I MANAGE THE SPORTS ARENA TIP DISTRICT.
WELL, THANK YOU ALL FOR, UH, HI.
ARE YOU GOOD? WAS THAT YOU, JESSICA? YES.
I THINK I'M, I'M HOLDING UP EVERYBODY, BUT I JUST WENT AHEAD AND PULLED OVER.
I WAS COMING OUT OF PROCEEDING LATE, SO I'VE JUST DECIDED TO PULL OVER.
UM, AND I HOPE MY CAMERA'S NOW WORKING.
TAMARA, CAN YOU SEE HER NOW? 'CAUSE I CAN SEE HER ON MY END.
UH, AGAIN, I APOLOGIZE FOR TAKING TIME OUT OF EVERYONE.
UH, THIS IS JESSICA SEPULVEDA.
AND, UM, I'VE BEEN ON THE BOARD FOR AT LEAST THREE TERMS NOW.
SO, UM, THANK YOU EVERYBODY FOR BEING PATIENT WITH ME.
ALRIGHT, WELL THANK YOU ALL SO MUCH FOR, UH, VOLUNTEERING YOUR TIME, UH, THIS AFTERNOON.
UH, WE'LL MOVE RIGHT ALONG TO PUBLIC COMMENT PERTAINING TO AGENDA ITEMS THREE THROUGH BY OUR HEARING NONE.
WE'LL MOVE TO AGENDA ITEM THREE.
[00:05:01]
CONSIDERATION OF THE MEETING, UH, RECORD FOR THE JANUARY 27TH, 2022 MEETING.UM, THAT WE HAVE A MOTION TO APPROVE FOR WHAT, WHAT WAS THE MOTION? I'LL SECOND.
I'M SORRY, I DIDN'T EVEN HEAR THE MOTION.
CAN THAT BE REPEATED? THERE WASN'T A MOTION MADE.
UM, THE CHAIR WAS ASKING FOR A MOTION FROM THE COURT.
DO WE HAVE A MOTION TO APPROVE, UH, THE MINUTES? JANUARY 27TH MEETING.
SO I HEARD A MOTION FROM JOE MAYER FOR APPROVAL.
UM, MAY I ASK WHO SECONDED THE MOTION? RICHARD ZALES.
ANY DISCUSSION? ALL THOSE IN FAVOR SAY AYE.
AND I WILL ABSTAIN SINCE I WASN'T PART OF BOARD AT THAT TIME.
UH, I, I STAND SINCE I WASN'T A PART OF BOARD AT THAT TIME.
UM, WE'LL MOVE ON TO THE REVIEW AND CONSIDERATION OF THE SPORTS ARENA TIFF DISTRICT ANNUAL REPORT FOR THE FISCAL YEARS OF 2022 AND 2023.
I WILL, UM, GO OVER THE, UM, REPORT THAT WAS SENT TO YOU IN YOUR PACKET, UM, COVERING THE YEAR, THE FISCAL YEAR 2023, WHICH WAS OCTOBER 1ST, 2022 THROUGH SEPTEMBER 30TH, 2023.
WE'LL GO TO PAGE FOUR OF YOUR, UH, REPORT.
THE SPORTS ARENA TIP DISTRICT WAS ORIGINALLY CREATED IN 1998.
THAT PORTION OF THE SPORTS ARENA SPECIFICALLY COVERED ONLY THE VICTORY AREA.
BUT IN 20 20, 20 12, THE UH, 10TH DISTRICT WAS AMENDED TO INCREASE THE BOUNDARY TO CREATE THREE ADDITIONAL SUBDISTRICTS AND CREATE BUDGETS FOR DEVELOPMENT ASSISTANCE WITHIN THOSE SUBDISTRICTS.
SO, UM, THE ORIGINAL BOUNDARY OF THE SPORTS ARENA TIP DISTRICT IS NOW CALLED THE VICTORY SUBDISTRICT.
AND THE TWO DISTRICTS THAT WERE ADDED WERE THE RIVERFRONT GATEWAY SUBDISTRICT, WHICH IF YOU LOOK AT PAGE READ IN YOUR PACKET, RIVERFRONT GATEWAY SUBDISTRICT IS THE PURPLE PORTION.
AND THEN THE WEST DALLAS SUBDISTRICT IS THE GREEN PORTION.
AND BOTH OF THOSE SUBDISTRICTS WERE ADDED IN 2012.
UM, THERE ARE TWO TAXING JURISDICTIONS THAT PARTICIPATE WITHIN THIS DISTRICT.
THEY ARE THE CITY AND THE COUNTY.
THE CITY PARTICIPATES IN THE VICTORY SUBDISTRICT AT 90% AND PARTICIPATES IN THE RIVERFRONT GATEWAY AND WEST DALLAS SUBDISTRICTS AT 90%.
DALLAS COUNTY PARTICIPATES IN THE VICTORY SUBDISTRICT AT 45% AND, UM, 55% IN THE RIVERFRONT GATEWAY IN WEST DALLAS SUBDISTRICTS.
THE NEXT SECTION, UH, TALKS ABOUT THE DISTRICT'S ACCOMPLISHMENTS.
AND SO, UM, SINCE 1998, THIS DISTRICT HAS LEVERAGED APPROXIMATELY 2.4 BILLION IN NEW DEVELOPMENT, EITHER COMPLETED OR UNDER CONSTRUCTION THROUGH THE CURRENT, THROUGH THE 2023 FISCAL YEAR.
UM, THAT INCLUDES THE DEVELOPMENT OF 5,458 RESIDENTIAL UNITS, 251 HOTEL ROOMS, 454,200, NO, 454,200 SQUARE FEET OF RETAIL SPACE, AND 1.4 MILLION SQUARE FEET OF OFFICE SPACE.
IN JUNE OF 2021, CITY COUNCIL APPROVED A TIP FUNDING AGREEMENT WITH THE CIRCUIT TRAIL CONSERVANCY TO CONSTRUCT A PORTION OF THE, UM, THE LOOP TRAIL WITHIN THE BOUNDARIES OF THE VICTORY SUBDISTRICT.
UM, THE TIP AWARD FOR THAT PROJECT WAS, UM, 11 POINT, ROUGHLY 6 MILLION, UH, CONSTRUCTION OF THAT PROJECT CONTINUED, OR ACTUALLY IT STARTED DURING THE FISCAL YEAR AND IT WILL CONTINUE UNTIL 2024.
AND SO IN 2024, THE TRAIL PORTION OF THE
[00:10:01]
PROJECT WILL BE COMPLETE.THERE'S ALSO A SECONDARY PORTION OF THE PROJECT, WHICH IS THE KATY TRAILHEAD, RIGHT AT THE, UM, KIND OF THE INNER AT HOUSTON AND BIG THREE OF WHERE YOU CAN INTERRUPT TO THE KATY TRAIL.
AND SO THEY'RE GONNA MAKE A, A KIND OF A PEDESTRIAN BIKE PLAZA AND THAT PORTION OF THE PROJECT WILL BE COMPLETED IN 2025.
THE NEXT PAGE ARE JUST A FEW PICTURES OF THE CONSTRUCTION PROGRESS THROUGHOUT THE FISCAL YEAR.
UM, YOU CAN SEE SOME OF THE WORK THAT'S CURRENTLY BEING DONE ON VICTORY AVENUE AND HOUSTON STREET.
UM, THIS CHART JUST TRIES TO CAPTURE THE, UH, NUMBER OF PROJECTS THAT HAVE BEEN SUPPORTED BY TIF FUNDING, AS WELL AS PROJECTS THAT HAVE OCCURRED WITHIN THE DISTRICT WITHOUT ANY TIF SUPPORT.
AND SO SINCE 1998, UM, ROUGHLY OVER 114 MILLION HAS BEEN PROVIDED FOR TIF FUNDING.
AND, UH, LARGELY, LARGELY MOST OF THAT HAS BEEN IN THE FORM OF SUPPORT FOR INFRASTRUCTURE.
INITIALLY IT WAS INFRASTRUCTURE IMPROVEMENTS FOR THE A A C, THE AMERICAN AIRLINE CENTER.
AND THEN SECONDARILY AFTER 2012, IT WAS, UM, SUPPORT FOR, UM, PROVIDING NECESSARY ROADWAY IMPROVEMENTS, CONVERSION OF STREETS FROM ONE WAY TO TWO WAY.
UM, ADDITIONALLY, SINCE 2012, THE TIP DISTRICT HAS SUPPORTED TWO PROJECTS WITHIN THE WEST DALLAS SUBDISTRICT.
THE FIRST WAS THE, UH, RESTAURANT INCUBATOR, UH, PROJECT, THE TRINITY GROVE PROJECT.
AND THEN THE LAST WAS THE CYPRESS AT TRINITY GROVES, WHICH WAS THE FIRST RESIDENTIAL APARTMENT COMPLEX THAT WAS CONSTRUCTED IN THE WEST DALLAS AREA.
SUBSEQUENT DEVELOPMENT IN THE WEST DALLAS AREA AND IN VICTORY AREA HAVE BEEN, HAVE NOT BEEN SUPPORTED BY, UM, CITY DOLLARS.
AND SO, UM, AN ADDITIONAL 2.5 BILLION IN VALUE HAS BEEN ADDED WITHOUT THE ASSISTANCE OF TIF FUNDS.
UM, ALL OF OUR TIF DISTRICTS HAVE A MIXED INCOME HOUSING REQUIREMENTS.
UM, FOR THIS PARTICULAR TIF DISTRICT, 20% OF RESIDENTIAL UNITS THAT ARE SUPPORTED WITH T FUNDS ARE REQUIRED TO PROVIDE MEXICAN HOUSING.
AND 20 OF THOSE, 20% OF THOSE UNITS MUST BE AT OR BELOW, UM, PROVIDED TO RICHARDS WHO ARE AT OR BELOW 80% OF A MI.
THERE'S ONLY BEEN ONE PROJECT, RESIDENTIAL PROJECT THAT HAS BEEN SUPPORTED BY TIP DOLLARS, AND THAT WAS THE, UM, PHASE ONE OF THE CYPRESS AT TRINITY GROVES IN THE WEST DALLAS SUBDISTRICT.
THAT PROJECT GENERATED 352 RESIDENTIAL UNITS.
AND OF THOSE UNITS, SEVEN OF THEM ARE CERTIFIED AS FOR, FOR AS AFFORDABLE.
THE NEXT SECTION IN OUR, UM, REPORT SPEAKS TO THE GROWTH AND VALUE WITHIN THESE THREE SUBDISTRICTS.
AND SO THE, UH, CERTIFIED VALUE FOR THE VICTORY SUBDISTRICT IS JUST ABOUT 1.9 BILLION, WHICH IS A 6.7% INCREASE OVER 2020 TWOS VALUE.
BUT IT IS A 5567% INCREASE OVER THE 2012 BASE YEAR VALUE OF JUST OVER 33 MILLION.
THIS INCREASE IN VALUE WITHIN THE TIF DISTRICT WILL, UM, RESULT IN THE ESTIMATED COLLECTION OF APPROXIMATELY $12.6 MILLION IN TIF INCREMENT REVENUE TO SUPPORT, UM, ADDITIONAL PROJECTS WITHIN THE, THE TIF DISTRICT OR PAYOFF.
CURRENT PROJECTS OF THAT 12.6 MILLION, 12.4 IS CONTRIBUTED BY THE CITY'S PARTICIPATION IN THAT SUBDISTRICT AND THE COUNTY'S PARTICIPATION WILL CONTRIBUTE JUST UNDER 230,000.
FOR THE RIVERFRONT GATEWAY TIP DISTRICT, THE, UH, CERTIFIED 2023 VALUE IS 43 MILLION, 43.4 MILLION, WHICH IS AN INCREASE OF 20.4% FROM THE 2022 VALUE.
AND 133% INCREASE OVER ITS BASE YEAR, 2012 VALUE OF 18.6 MILLION.
THIS TIP DISTRICT WILL COLLECT APPROXIMATELY $193,000 IN 2024 BASED ON THE INCREASE IN VALUE OF THAT 164,000 WILL BE FROM THE CITY AND ITS PARTICIPATION IN THE SUBDISTRICT AND AN ADDITIONAL 29,000 FROM THE COUNT.
LASTLY, THE, UH, WEST DALLAS SUBDISTRICT 2023, UM, VALUE IS
[00:15:01]
243 MILLION, WHICH IS A 35% INCREASE OVER 2020 TWOS VALUE, AND A 445% INCREASE OVER THE BASE YEAR VALUE BACK IN 2020.SO WHEN, UM, THE TIF DISTRICTS WERE ORIGINALLY CREATED, AND WE'RE ON PAGE 10 NOW, WHEN THEY ORIGINALLY CREATED AND WHEN THEY WERE AMENDED, WE HAD SOME DEVELOPMENT GOALS FOR THIS TIF DISTRICT.
AND SO THE OBJECTIVES PROGRAMS AND SUCCESS INDICATORS CAPTURES THOSE OBJECTIVES AND PROVIDES A SNAPSHOT OF WHERE WE ARE BASED ON DEVELOPMENT UP INTO THE CURRENT FISCAL YEAR.
AND SO ONE OF THE GOALS WAS TO ATTRACT 250,000 SQUARE FEET OF ADDITIONAL RETAIL SPACE.
AND, UM, AS OF FISCAL YEAR 2023, THERE'S APPROXIMATELY 454,000 SQUARE FEET OF RETAIL SPACE THAT HAS BEEN ADDED TO THE DISTRICT, WHICH IS 182% OF THE TOTAL GOAL.
ANOTHER GOAL WAS TO ADD A A 3000 ADDITIONAL RESIDENTIAL UNITS, UM, THAT COULD BE IN THE FORM OF TOWN HOMES, MULTIFAMILY, CONDOMINIUM, CONDOMINIUM UNITS.
AND TO DATE, WE HAVE ONLY ADDED, WELL, NO, IN TOTAL WE HAVE ADDED 5,458 RESIDENTIAL UNITS, WHICH EXCEEDS THE GOAL.
UM, ON PAGE 11, WE HAVE OUR YEAR END SUMMARY.
THIS JUST GIVES YOU A LIST OF THE PEOPLE THAT ARE CURRENTLY ON THE TIF BOARD.
AND UNFORTUNATELY LAST FISCAL YEAR WE WEREN'T UNABLE TO MEET.
THAT WAS RIGHT DURING THE ICE MAGEDDON, I BELIEVE.
AND SO, UM, WE DID NOT MEET LAST YEAR AND I'M VERY GLAD THAT WE'RE ABLE TO MEET THIS YEAR.
IF YOU'LL TURN TO PAGE 13, THIS IS OUR BUDGET AND STATUS SPENDING STATUS.
AND SO HERE YOU HAVE OUR BUDGET FOR ALL THREE SUBDISTRICTS.
AND I WOULD LIKE TO SAY THAT OUR BUDGET IS NOT CASH ON HAND.
OUR BUDGET IS ACTUAL FUNDING CAPACITY.
AND SO THE NUMBERS THAT YOU SEE HERE, UM, AND WE'LL START WITH THE VICTORY SUBDISTRICT, THE BUDGET OF 165 MILLION IS NOT CASH ON HAND.
IT IS WHAT WE ANTICIPATE COLLECTING OVER THE TERM OF THAT PARTICULAR SUBDISTRICT.
AND SO OF THE 165 MILLION TODAY, 123 MILLION OF THAT HAS BEEN ALLOCATED TO VARIOUS PROJECTS INCLUDING, UM, THE SET ASIDE THAT IS TRANSFERRED TO THE WEST DALLAS SUBDISTRICT.
ANNUALLY, 10% OF INCREMENT THAT IS COLLECTED IN THE VICTORY SUBDISTRICT IS TRANSFERRED TO THE WEST DALLAS SUBDISTRICT TO SUPPORT DEVELOPMENT IN THOSE AREAS.
AND SO BASED ON WHAT HAS BEEN ALLOCATED AND WHAT HAS BEEN SPENT, THE BIG THREE SUBDISTRICT HAS JUST OVER 42 2 MILLION LEFT IN BUDGET CAPACITY FOR THE WEST DALLAS SUBDISTRICT.
THE TOTAL BUDGET OR ANTICIPATED COLLECTION OVER THE TERM OF THE SUBDISTRICT, IT IS JUST OVER 89 MILLION TO DATE.
UM, 17.5 MILLION HAS BEEN ALLOCATED OR SPENT.
AND SO THE WEST DALLAS SUBDISTRICT HAS A FUNDING CAPACITY OF APPROXIMATELY 72 MILLION OVER THE REMAINING TERM OF THE SUBDISTRICT.
AND THEN LASTLY, THE FRONT GATEWAY.
SUBDISTRICT HAS A BUDGET, HAS A BUDGET OF 10.2 MILLION.
UM, CURRENTLY WE HAVEN'T HAD ANY PROJECTS WITHIN THIS PARTICULAR SUBDISTRICT SUBDISTRICT.
AND SO THE, UH, POOL FUNDING CAPACITY IS STILL AVAILABLE.
IN ADDITION TO OUR MIXED INCOME HOUSING REQUIREMENT, WE ALSO HAVE A, UM, MINORITY WOMEN OWNED BUSINESS AND ENTERPRISE PARTICIPATION REQUIREMENT FOR OUR PROJECTS.
UM, BACK WHEN MOST OF THE PROJECTS THAT ARE LISTED IN THIS CHART WERE APPROVED, THAT, UM, GOAL FOR PARTICIPATION WAS 25%, WHICH THE, UM, PROJECTS THAT WERE COMPLETED ON AVERAGE MET THAT GOAL.
BUT SINCE FISCAL YEAR 20 20, 20 21, THE PARTICIPATION RATE HAS BEEN INCREASED TO 32%.
AND SO WE'LL SEE HOW THE CIRCUIT TRAIL CONSERVANCY PROJECT, WHEN IT'S COMPLETED, THEIR GOAL WILL BE 32% AND THEY WILL BE ADDED TO THIS CHART.
UM, AT THE BOTTOM OF PAGE 15 IS THE WORK PROGRAM FOR ME, UM, GOING FORWARD IN THE 20 23 20 24 FISCAL YEAR.
AND THE VERY FIRST IS TO, UM, GET YOU GUYS REVIEW AND APPROVAL OF THE ANNUAL REPORT AND SEND IT ON TO CITY COUNCIL FOR APPROVAL.
UM, GOING TO CONTINUE THE ANNUAL PAYMENT OF COMPLETED PROJECTS WITHIN THE TIF DISTRICT AND, UH, WORK WITH THE CTC AND PARK RECREATION DEPARTMENT TO COMPLETE CONSTRUCTION OF THE HIGHLINE CONNECTOR
[00:20:01]
PROJECT.AND THEN EVALUATE INCENTIVE APPLICATIONS THAT MAY BE SUBMITTED FOR THE TIF DISTRICT AND THEN ULTIMATELY PRESENT THEM TO THE TIF BOARD FOR CONSIDERATION.
PAGE 16, 17, AND 18 ARE THE FINANCIALS FOR, UM, THIS PARTICULAR TIF DISTRICT IS ACTUALLY THE ONLY REQUIREMENT OF STATE LAW TO BE PROVIDED FOR TIFF ANNUAL REPORTS.
WE JUST CHOOSE TO PROVIDE A MORE MEDIA MEDIA REPORT SO THAT ANYONE WHO PICKS IT UP CAN GET A REALLY GOOD SNAPSHOT OF WHAT'S GONE ON IN THE TIFF DISTRICT.
WE DO HAVE REPRESENTATIVES FOR OUR FINANCIAL DIVISION WHO PREPARED THESE FINANCIALS.
IF YOU HAVE ANY QUESTIONS SPECIFICALLY WITHIN THOSE THREE PAGES ON PAGE 19 IS THE PROJECT PAYOFF ESTIMATE.
AND SO WE HAVE A FEW PROJECTS THAT WE ARE, UM, CURRENTLY PAYING WITHIN THE TIP DISTRICT.
UM, THE VERY FIRST ONE THAT WILL BE PAID OFF WILL BE THE RESIDENTIAL PROJECT IN THE WEST DALLAS SUBDISTRICT.
WE ANTICIPATE MAKING OUR FINAL PAYMENT THIS YEAR.
UM, AS FAR AS THE TRAIL IS CONCERNED, WE ANTICIPATE BEGINNING, UM, AND ENDING PAYMENTS IN 2025.
AND THEN WE HAVE ONGOING PAYMENTS FOR, UM, TWO PARKING GARAGES AND VICTORY THAT WE WILL CONTINUE UNTIL THE VICTORY SUBDISTRICT EXPIRED.
I THINK THIS IS LAST
IT'S, SO THE LAST SECTION WE HAVE WITHIN OUR DISTRICT, WE HAVE WHAT ARE CALLED SET ASIDES.
MOST OF THEM ARE TO SUPPORT DISTRICT WIDE IMPROVEMENTS OR THOSE IMPROVEMENTS THAT ARE NOT SPECIFICALLY TIED TO A SPECIFIC PRIVATE DEVELOPMENT PROJECT.
AND SO WITHIN THE VICTORY SUBDISTRICT, WE HAVE TWO SET ASIDES.
THE FIRST IS FOR THE WEST DALLAS SUBDISTRICT, WHERE 10% OF THE INCREMENT GOES TO WEST DALLAS.
THE SECOND IS THE, UH, VICTORY SUBDISTRICT WIDE IMPROVEMENT SET ASIDE.
AND THAT WAS IN THE, UH, AMOUNT OF $500,000 TO SPECIFIC SPECIFICALLY SUPPORT ANY TYPE OF INFRASTRUCTURE IMPROVEMENTS OR WORLDWIDE IMPROVEMENTS THAT ARE NEEDED TO SUPPORT THE AMERICAN AIRLINES CENTER AND ENSURE THAT THAT WHOLE MECHANISM WORKS WELL.
UM, THE NEXT SET ASIDE IS FOR THE RIVERFRONT GATEWAY SUBDISTRICT, WHERE 10% OF INCREMENT IS SET ASIDE IN
AND THEN LASTLY, THE WEST DALLAS SUBDISTRICT HAS TWO DIFFERENT SET ASIDES.
THE FIRST IT'S FOR ZONING SUBDISTRICT WIDE IMPROVEMENTS.
AND SO THE ZONING FOR MOST OF THE PROPERTIES WITHIN THAT WEST DALLAS SUBDISTRICT REQUIRES, UM, SPECIFIC OPEN SPACE PROVISIONS.
AND SO THIS SET ASIDE WAS PROVIDED TO HELP ASSIST WITH THE, UH, PROVISION OF THOSE OPEN SPACE REQUIREMENTS.
AND THEN THE NEXT IS A GENERAL SUBDISTRICT WIDE IMPROVEMENT.
AND IT'S NOT SPECIFICALLY TIED TO ZONE AND IT COULD BE, UM, A COMMUNITY PROJECT THAT, UM, WANTS TO PUT INDUSTRY SCAPING ALONG, UM, SINGLETON OR, WELL, ACTUALLY I'LL TELL YOU, UM, THE HAWK SIGNAL THAT WAS PUT IN FOR PEDESTRIAN CROSSING, UM, ON SINGLETON RIGHT ACROSS FROM UM, TRINITY GROVES IS A TYPE OF IMPROVEMENT THAT COULD BE USED.
DID THAT PROJECT USE MONEY FROM THE STUDY TIME? YES.
AND SO, UM, THE CHART ON PAGE 21 JUST SHOWED QUANTIFIES WHERE WE ARE AS IT RELATES TO SETTING ASIDE, SETTING ASIDE FUNDS IN EACH OF EACH OF THESE SUBDISTRICTS.
AND SO THAT CONCLUDES MY SUMMARY AND I AM HERE TO ANSWER ANY QUESTIONS YOU MAY HAVE.
I'M GONNA TRY TO OPEN THE DOOR TO YOU.
ALRIGHT, THANK YOU, UH, PAM FOR THAT OVERVIEW.
DO WE HAVE ANY QUESTIONS, COMMENTS? YEAH, THIS IS SYLVIA.
YOU HAVE A QUESTION? YES, I DO.
AND IT MAY NOT EVEN PERTAIN TO ALL THIS, BUT BECAUSE MONEY IS BEING GIVEN, UH, FOR THESE APARTMENTS THAT ARE BEING BUILT AND A CERTAIN PERCENTAGE, YOU KNOW, IS SET ASIDE, UM, FOR THOSE THAT FALL BELOW, I GUESS OR FALL WITHIN THE GUIDELINES, HOW, AND I THINK THERE WERE SEVEN IN THE LAST UNITS THAT WERE GOING TO BE AVAILABLE.
[00:25:02]
HOW DO PEOPLE KNOW THAT THESE UNITS ARE AVAILABLE? WE HAVE, UM, A REQUIREMENT FOR OUR AFFIRMATIVE FAIR HOUSING MARKETING PLAN.AND SO THE, UM, OWNERS OF THE PROPERTY SUBMIT TO THE CITY HOW THEY PLAN TO MARKET THESE, UM, UNITS AND MARKET THEIR UNITS.
AND SO, UM, THEY REACH OUT TO SPECIFIC NEWSPAPERS BASED ON THEIR PLAN.
THEY PROVIDE THE INFORMATION ON THEIR WEBSITE.
AND ALSO THE CITY HAS A SPECIFIC, UM, PAGE WITHIN OUR OFFICE OF ECONOMIC DEVELOPMENT WEBSITE THAT HAS A LIST OF ALL OF THE, UH, RESIDENTIAL PROJECTS THAT WE HAVE SUPPORTED WITH TIP FUNDS THAT HAVE THESE, UM, AFFORDABLE UNITS SET ASIDE.
IS THERE ANY WAY THAT I COULD GET INFORMATION SPECIFICALLY FOR THE WEST DALLAS WHERE THEY'RE ADVERTISING THESE, WHAT NEWSPAPERS, UH, THESE, UH, OWNERS ARE, ARE, UH, ADVERTISING IN? SURE.
I CAN GET A COPY OF THE LATEST EFFECT AFFIRMATIVE FAIR HOUSING MARKETING PLAN.
THIS IS A FOLLOW UP TO THAT QUESTION.
DO WE HAVE ANY WAY TO MONITOR HOW THAT PART OF THE COMPLIANCE IS, IS BEING DONE? OR IS THERE ANY TYPE OF COMPLIANCE, UH, REPORTING OR THERE IS COMPLIANCE.
SO OUR, UM, ALL OF OUR PROPERTIES REPORT TO THE CITY.
THEY SUBMIT A CERTIFICATION LETTER TO THE CITY, UM, TWICE A YEAR.
AND THEN WE HAVE AN ACTUAL COMPLIANCE TEAM THAT GOES OUT AND VISIT ON SITE AND THEY TAKE AN AUDIT, A SAMPLE AUDIT OF THEIR, UM, LEASES TO ENSURE THAT THEY ARE MEETING THE REQUIREMENTS OF THE PROGRAM.
AND THAT MONITORING LASTS THROUGHOUT THE TERM OF THE AFFORDABILITY, WHICH IS 15 YEARS.
SO IN 20, FROM MY UNDERSTANDING, THE LAST PAY 2024 THIS YEAR.
AND SO IT WAS COMPLETED IN 2018.
AND SO, UM, I'M ON PAGE 13 TALKING ABOUT, UH, THE, THE BUDGET AND THE SPENDING STATUS.
UM, AND JUST FROM MY UNDERSTANDING, THE FIRST COLUMN IS WHAT IS EXPECTED TO BE COLLECTED OVER THE LIFE OF THE TIFF DISTRICT, RIGHT? CORRECT.
UM, COLUMN TWO IS WHAT'S BEEN COMMITTED OR SPENT TO INDIVIDUAL, UH, PROJECTS.
AND COLUMN THREE IS WHAT'S TOTAL REMAINING FROM THAT, FROM THAT DELTA? YES.
MY, MY QUESTION IS, IS THERE A WAY TO DETERMINE HOW MUCH IS AVAILABLE AT ANY GIVEN TIME? YES.
AND SO, AND OUR FINANCIALS, UM, WE HAVE A FUND BALANCE.
AND SO WHAT THIS IS GONNA TELL YOU THE FUND BALANCE FOR THE ENTIRE TIF DISTRICT, BUT WE IN HOUSE CAN TELL YOU, UM, FOR EACH SUBDISTRICT THE FUND BALANCE.
AND SO IF YOU LOOKED AT THE, UH, THE VERY LAST ROW WE'RE ON PAGE 16 IN BY THIS FOLLOW FOLLOWING ON THE VERY LAST ROW ON, UM, MCC.
SO IT SAYS FUND BALANCE AT END OF YEAR.
AND IS THAT, IS THERE ANY WAY WE CAN GET THE NUMBERS BROKEN UP INTO SUBDISTRICTS? YES.
AND I WILL TELL YOU THAT THE BULK OF THAT IS GONNA BE, UM, IF THE VICTORY SUBDISTRICT BECAUSE WE HAVE PROJECTS RIGHT.
AND SO THAT THEY HAVEN'T COMPLETED YET.
SO WHEN THEY'RE COMPLETE, THAT'S WHY I THINK, IF YOU REMEMBER I SAID FOR THE CIRCUIT TRAIL PROJECT, AS SOON AS THEY COMPLETE, WE'LL BE ABLE TO PAY 'EM OFF.
UH, THE LIFE OF THE DISTRICT IS ANOTHER CLARIFYING QUESTION.
SO FOR THE FOURTH, THE VICTORY PART, AND I BELIEVE THAT SHOULD BE ON PAGE FOUR, THE VICTORY PART, UM, ENDS AT 2028 AND FOR THE RIVERFRONT GATEWAY AND UH, WEST DALLAS SUBDISTRICT, THEY END IN 2042.
THEY WERE 30 YEAR TERMS. THANK YOU.
AND MY LAST QUESTION IS, UH, ABOUT THE EXPANSION OF THE LATTER TWO SUBDISTRICTS.
HAVE THERE BEEN ANY DISCUSSION ON THAT OR? UM, WE'VE HAD SOME DISCUSSION.
UM, PEOPLE HAVE COME IN, BUT WE, WE, WE, WE DON'T HAVE ANY PROJECTS OR ANYTHING TO PRESENT TO THE BOARD.
I THINK IF WE WERE GOING TO, UM, MORE LIKELY EXPANSION WOULD MAYBE BE IN THE RIVERFRONT GATEWAY WHEN IT WAS CREATED.
WE, WE KNEW WE DIDN'T CAPTURE ALL OF THE DEVELOPABLE PROPERTIES WITHIN THAT RIVERFRONT GATEWAY AREA.
[00:30:01]
BE THAT AS SOON AS THEY'RE READY TO DEVELOP MORE WITHIN THAT SUBDISTRICT, THERE MAY BE SOME TYPE OF EXPANSION.BUT WE HAVE NOTHING TO US AT THIS POINT.
SO EXPANSION DISCUSSIONS WOULD ONLY HAPPEN IF THERE WERE PROJECTS IN AN ADJACENT AREA THAT COULD CAPTURE SOME OF THE BOOKS? YES.
I THINK MY LAST QUESTION, UM, IS, UM, JUST FOR FUTURE DISCUSSIONS, HAS THERE BEEN ANY INTERESTED DEVELOPERS COMING AND ASKING TO DRAW FUNDING DOWN FROM ANY OF THESE DISTRICTS? WE, THERE HAVE BEEN SOME PROPOSALS.
I'VE BEEN READING JUST, I THINK I'VE EVEN SEEN IT IN THE NEWSPAPER WHERE, UM, CERTAIN PROJECTS MAY HAVE BEEN THINKING ABOUT TAPPING INTO MULTIPLE 10 DISTRICTS TO FUND, UM, LARGER PROJECTS.
AND IT MAY NOT NECESSARILY BE THE BEST WAY TO FUND THAT PROJECT ANYWAY.
MY QUESTION, I CANNOT, DO WE KNOW OF ANY, UH, PROPER SPECIFICALLY, UH, QUESTION FUNDING IN THE WEST ISLAND SUBDISTRICT? WE HAVE ONE APPLICATION IN THE WEST DALLAS SUBDISTRICT, BUT IT IS FROM DEVELOPERS THAT ARE WITHIN THE SUBDISTRICT.
SO IT'S NOT A PROJECT THAT'S ON THAT'S NOT CURRENTLY WITHIN THE SUBDISTRICT AND THAT'S UNDER EVALUATION.
I THINK THAT WAS THE LAST BULLET ON MY WORK PROGRAM.
AND SO ONCE WE GO THROUGH OUR UNDERWRITING OF THE PROJECT AND, AND REVIEW IT, THEN WE WILL PRESENT IT TO THE TIP BOARD FOR THEM TO CONSIDER.
HEARING NO OTHER QUESTIONS, WE'LL MOVE ON TO, UH OH.
DO I HAVE UM, A MOTION TO UH, TO APPROVE? I MOVE TO APPROVE? CAN YOU JUST STATE YOUR NAME, UM, ONCE YOU, UH, PASS A MOTION SO THAT WE SURE.
JOE MAY ANY SECOND? I SECOND RICHARD CAR OF SECONDS.
UM, ALL IN FAVOR, UM, SAY AYE.
ALL OPPOSED? THE MOTION CARRIES.
AGENDA ITEM NUMBER FIVE, REVIEW AND CONSIDERATION OF A MONTHLY MEETING SCHEDULE FOR SPORTS ARENA TIP DISTRICT, UM, FOR THE 2024 CALENDAR HERE.
UM, SO WITH THIS ITEM, THE CITY SECRETARY'S OFF CITY SECRETARY'S OFFICE HAS REQUESTED THAT WE HAVE A MEETING SCHEDULED FOR ALL OF OUR TIP BOARDS.
AND SO, UM, WHAT WE HAVE PROPOSED, UM, IN YEARS PAST IS TO SET UP A QUARTERLY MEETING SCHEDULE FOR THE TIP BOARD.
NOW IT DOES NOT NECESSARILY MEAN THAT WE WILL MEET ON THOSE DATES BECAUSE WE ALWAYS HAVE THE ABILITY TO CALL A SPECIAL MEETING.
BUT TO ESTABLISH A SCHEDULE THAT WE CAN THEN PROVIDE TO THE CITY SECRETARY'S OFFICE, WE ARE ASKING THE BOARD TO, UM, COME UP WITH A, A DATE AND A TIME THAT WORKS BEST FOR EVERYONE.
AND SO WHAT I FOUND TO BE THE EASIEST IS TO, UM, CARRY OVER THE PRIOR FISCAL YEAR, PRIOR CALENDAR YEAR'S SCHEDULE, WHICH LAST YEAR WAS THE FOURTH THURSDAY OF THE FIRST MONTH OF EACH QUARTER AT 10:00 AM UM, I LIKE 2:00 PM I DON'T KNOW ABOUT ANYONE ELSE.
I HAVE AN ONGOING MEETING EVERY THURSDAY AT 10 30 UNTIL APRIL.
SO IS THERE ANY OBJECTION TO 2:00 PM ON THE FOURTH THURSDAY OF THE FIRST MONTH OF EACH QUARTER? QUICK QUESTION, DOES THAT CONFLICT WITH THE PREVIOUS MEETING THAT WE JUST HAD? I HOPE NOT.
UM, I THINK WE JOETTE JOSETTE.
[00:35:01]
I DON'T HAVE IT IN FRONT OF ME, BUT MAYBE YOU CAN LOOK IN YOUR EMAIL IN THE PACKET THAT I SENT TO YOU FOR THE CYPRUS WATERS AND JUST LOOK AT THE MINUTES TO SEE WHAT THEIR TIME WAS.I KNOW, I DON'T, I THINK IT'S A DIFFERENT MONTH.
I THINK IT'S A DIFFERENT MONTH OF THE QUARTER, LUIS.
IT JUST SOUNDED LIKE THE FOURTH THURSDAY AT TWO O'CLOCK.
SO IT, IT WAS THE FOURTH, FOURTH THURSDAY, BUT I THINK THERE'S MAYBE THE THIRD MONTH.
I MEAN, I CAN EVEN DO ONE O'CLOCK OR 12 O'CLOCK.
HOW'S A LUNCH HOUR FOR, FOR EVERYONE? UH, FOR MYSELF.
UM, MORNINGS ARE WORK NOT GOOD FOR ME BECAUSE I'M TYPICALLY IN COURT IN THE AFTERNOON.
ANYTIME IN THE AFTERNOON I THINK WOULD BE GOOD.
DOES THE AFTERNOON NOT WORK FOR ANYONE? NO.
UH, RICHARD SAID IT WORKS FOR HIM 'CAUSE HE IS IN COURT IN THE MORNINGS.
I DON'T KNOW ABOUT EVERYONE ELSE.
I DEFINITELY KNOW IT'S NOT NEW.
SO IT SOUNDS LIKE WE HAVE A CONSENSUS ON THE FOURTH THURSDAY OF THE FIRST MONTH OF EACH QUARTER AT NOON.
DOES THAT WORK? MEETINGS? WE'RE GONNA GO AHEAD AND, UH, TAKE A MOTION FOR THAT.
DO WE HAVE A, UH, MOTION ON THE TABLE? I THINK, UH, MR. RICHARD PASSED THE MOTION OR WAS IT STILL GOOD? UH, I'LL SECOND THE MOTION.
I, I I DIDN'T HEAR THE, WHO MADE THE MOTION? WHO MADE A MOTION FOR A MEETING ON THE FOURTH THURSDAY OF THE FIRST MONTH OF EACH QUARTER AT NOON? I'LL MAKE THE MOTION.
FIRST THURSDAY, I MEAN FOURTH THURSDAY.
UH, FIRST I'M SORRY, WHAT WAS IT? FIRST OF THE MONTH.
FIRST MONTH OF, OF EACH QUARTER AT 12 NOON.
ALRIGHT, WE HAVE A FIRST, WE HAVE A MOTION AND A SECOND.
ALRIGHT, IS THERE ANY OTHER, UM, COMMENTS OR QUESTIONS OR ANYTHING THAT ANYONE WOULD LIKE TO SEE FOR, UH, NEXT MEETING? UM, BEFORE WE ADJOURN? ALRIGHT, WELL AGAIN, THANK YOU ALL SO MUCH.
I APPRECIATE UM, YOUR, YOUR, YOUR VOLUNTEERISM.
UM, LOOKING FOR A MOTION TO ADJOURN.
WE DON'T NEED A ADJOURN AND THE TIME.
ALRIGHT, WE, UH, ADJOURNING THE MEETING AT 2:43 PM THANK YOU.