* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:01] I THINK WE'LL GO AHEAD AND GET STARTED. IT LOOKS LIKE THE RECORDING IS [Dallas Oak Cliff Gateway TIF District Board of Directors Meeting on December 16, 2024.] NOW ON, SO WE'LL CALL THE OAK CLIFF GATEWAY, TIFF BOARD MEETING TO ORDER ON DECEMBER 16TH, 2024 AT 2:12 PM AND I'LL TURN THE MEETING OVER TO OUR CHAIR. YEAH. THANK YOU EVERYBODY. UH, THIS IS THE FINAL MEETING OF THE YEAR. FIRST STEP. I WANNA THANK EVERYBODY'S PARTICIPATION, UM, AND THE BOARD THIS YEAR IS ANOTHER SUCCESSFUL YEAR. UM, AS FAR AS, UH, THE AGENDA GOES, UH, WE ARE GOING TO, UH, GO THROUGH, WE, WE HAVE, UH, REVIEW OF THE, UH, MEETING RECORDS FROM THE LAST MEETING. UH, SO WE'RE LOOKING FOR A MOTION FOR APPROVAL. I'LL MAKE A MOTION THAT WE APPROVE THE MINUTES FROM THE LAST MEETING, LUIS. ALL RIGHT. GIMME A SECOND. SECOND, SECOND. SECOND. HAVE I SECOND? YEAH, SECOND HEARING. ALL RIGHT. ALL IN FAVOR? AYE. AYE. PERFECT. ALL RIGHT. UM, ANY OPPOSED? NOPE. ALRIGHT. PASSES. ALL RIGHT. UH, SECOND ORDER OF BUSINESS IS, UM, REVIEW, UM, OF THE CALENDAR, THE ANNUAL REPORT. THE ANNUAL REPORT. OKAY. GOT IT. ALL RIGHT. DO YOU WANT TO, SURE. UM, I'LL JUST HIT THE HIGHLIGHTS. UM, HOPEFULLY EVERYONE HAD A CHANCE TO PER THE, UH, THE DRAFT REPORT THAT WAS SENT OUT, AND, UM, IT'S STILL IN DRAFT FORM. THERE'LL STILL BE SOME INTERNAL REVIEW BEFORE GOES TO CITY COUNCIL. UM, BUT THE SUBSTANTIVE INFORMATION IS HERE. SO IF WE COULD GO AHEAD AND JUMP TO PAGE SIX. I'LL SORT OF HIT THE HIGHLIGHTS ON WHAT, UM, IS NEW FROM THE LAST YEAR. SO, UM, IN TERMS OF NEW PROJECTS, UH, THE BOARD APPROVED, UM, SUPPORT, UM, FOR THE, UM, ESTOCK PROJECT AT 900 EAST CLAREDON. AND THAT WAS SCHEDULED FOR CITY COUNCIL IN OCTOBER. CITY COUNCIL DID, UM, APPROVE THE DEVELOPMENT AGREEMENTS, SO THAT'LL BE OFFICIALLY RECOGNIZED, UM, IN NEXT YEAR'S ANNUAL REPORT. AND THEN WE CAN GO AHEAD AND SKIP TO, UM, PAGE 11. THE OTHER THING THAT WAS NEW THIS YEAR, WE HAD A COUPLE OF BRIEFINGS, UM, WITH THE BOARD ABOUT, UM, TAKING A PORTION OF THE TIP FUNDING TO HELP WITH HOMEOWNER STABILIZATION, HOME REPAIR, DISPLACEMENT MITIGATION PROGRAMS. AND SO, UM, YOU KNOW, THE, THE BOARD, UM, LAST, UH, WAS BRIEFED IN SEPTEMBER ABOUT A FUNDING AREA AND SOME OF THE DETAILS IN TERMS OF THE TYPES OF HOUSING PROGRAMS THAT THE HOUSING DEPARTMENT WOULD UTILIZE THE FUNDING FOR, FOR, SO THE OFFICIAL TRANSFER OF FUNDS, UM, WAS ACTED UPON BY CITY COUNCIL IN SEPTEMBER, UM, UP TO THE MAXIMUM, YOU KNOW, ALLOWED, UM, IN THE BUDGET. BUT FOR THIS INITIAL YEAR, UH, THE, THE AMOUNT TRANSFER TO THE HOUSING DEPARTMENT WAS JUST A LITTLE OVER A MILLION, MILLION 1 46, 1 47. AND, UM, YOU KNOW, AS THE HOUSING DEPARTMENT STAFF ROLL OUT THE USE OF FUNDS, UM, WE'LL BE TRACKING THAT REPORTING AND WE ANTICIPATE WE'LL HAVE INFORMATION IN NEXT YEAR'S ANNUAL REPORT IN TERMS OF LIKE, UM, THE PROGRESS WITH THE USE OF THOSE FUNDS. WE CAN GO AHEAD AND JUMP TO PAGE 13. SO HERE WE HAVE THE, THE VALUE AND INCREMENT SUMMARY FOR THE DISTRICT. SO ON THE WHOLE OF THE DISTRICT'S 2024 TAXABLE VALUE WAS, UM, 1.6 BILLION. UH, THAT IS A, UH, ONE POINT, ALMOST 1.4 BILLION INCREASE OVER THE BASE, UM, VALUE AND ABOUT 12%, UM, INCREASE FROM LAST YEAR. SO ON THE WHOLE, WE WOULD ANTICIPATE BASED ON THAT CERTIFIED VALUE COLLECTING, UM, A LITTLE OVER 9 MILLION IN, UH, INCREMENTAL TAX REVENUE. UM, THIS UPCOMING CALENDAR YEAR, UH, WE CAN GO AHEAD AND JUMP TO PAGE 14. SO THE Z ZANE PLAZA PROJECT WAS, UM, COMPLETED, UM, AROUND SEPTEMBER OF THIS YEAR. SO THERE'S A PHOTO OF THAT. UM, THOSE OF YOU THAT DRIVE BY, UM, DAVIS AND ZANG OVER BY THE STREETCAR STOCK CAN, UM, CAN TAKE A LOOK AT THE PLAZA THAT'S NOW COMPLETED. UM, THE NEXT SECTION WE HAVE IS THE YEAR END SUMMARY MEETING. SO THE BOARD, UM, MET FOUR TIMES DURING THE YEAR. WE HAVE THE ATTENDANCE RECORD. UM, IF THERE'S ANY, UM, QUESTIONS OR DISCREPANCIES, YOU CAN LET US KNOW. THE BOARD, UM, APPROVED [00:05:01] OR THE CITY COUNCIL APPROVED TWO ITEMS RELATED TO THE TIP DISTRICT THIS YEAR, THE ANNUAL REPORT AND THE THE HOUSING TRANSFER. UM, THE ONLY PENDING ITEM WE HAVE IS THE, UM, THE ESTOCK PROJECT, WHICH COUNCIL IN OCTOBER, WHICH IS THE BRAND NEW FISCAL YEAR. UM, OUR TIFF BUDGET HERE. UM, I ALWAYS LIKE TO DESCRIBE THIS AS CAPACITY BASED ON, YOU KNOW, PROJECTIONS OF REVENUE. THIS IS NOT, UM, ACTUAL CASH, BUT THIS IS THE, UM, ESSENTIALLY KIND OF LIKE THE, THE CEILING FOR WHAT WE WOULD ANTICIPATE BEING ABLE TO COLLECT. AND YOU CAN SEE THERE, UM, THE ALLOCATIONS. WE REFLECT THAT THE HOMEOWNER STABILIZATION FUNDING WAS COMMITTED, UM, FOR THE, UM, FOR THE FULL BALANCE. AND LET'S SEE, WE GO AHEAD AND SKIP TO PAGE 19. SO AGAIN, UM, PENDING ITEMS WE WOULD HAVE, UM, ITEMS THIS YEAR'S ANNUAL REPORT. AND THEN THE DEVELOPMENT AGREEMENT FOR ESTOCK WAS PENDING, UM, FOR THE NEW FISCAL YEAR. WE HAVE A RENDERING OF THAT PROJECT AS WELL. WE CAN SKIP TO PAGE 20. THIS IS THE START OF THE FINANCIALS. WE HAVE OUR, UM, OUR FINANCE STAFF, STAFF, UM, ON THE LINE, IF THERE'S ANY SPECIFIC QUESTIONS ABOUT THE FINANCIAL STATEMENTS. AND WE CAN GO AHEAD AND SKIP TO PAGE, UH, 24. SO AS OF NOW, UM, OUR EXISTING FINANCIAL OBLIGATIONS INCLUDE, UM, FUNDING FOR THE HOG ELEMENTARY SCHOOL PROJECT. UM, THAT WAS IN THE PROCESS OF BEING COMPLETED. UM, JUST THE LIGHTING WAS THE LAST THING TO BE COMPLETED. AND ONCE WE HAVE ALL THE DOCUMENTATION FOR THAT, WE WOULD, UM, PAY THAT OBLIGATION. THE GATEWAY OAK CLIFF, UH, PROJECT IS ALSO COMPLETED AND WE'RE IN THE DOCUMENTATION PROCESS FOR THAT. UH, SAME THING WITH ZEN PLAZA. UM, THAT PROJECT IS COMPLETED AND WE'RE IN THE, THE PAYMENT CHECKLIST PROCESS FOR THAT. UH, THEN WE CAN SKIP TO PAGE 25, WHICH IS THE DISTRICT WIDE FUNDING. UM, OUR CURRENT BALANCE IS ABOUT 2.8 MILLION. UM, OF THAT 1.5 IS COMMITTED TO THE ZANE PLAZA PROJECT. AND THEN WE WOULD HAVE THEN AN UNALLOCATED BALANCE THAT COULD BE THERE FOR, UM, ADDITIONAL PROJECTS IN THE COMING YEARS. UM, WITH, THAT'S PRETTY MUCH THE HIGHLIGHTS. SO HAPPY TO ANSWER ANY QUESTIONS. HEY, SUE, THIS IS TOM. CAN YOU HEAR ME? YEAH. HI TOM. YEAH. ARE WE STILL, UH, SUPPORTING THE STREETCAR? UH, NO. WE REACHED ITS MAXIMUM THAT WAS, UM, IN THE PLAN IN TERMS OF WHAT COULD BE COMMITTED. SO, UM, ALRIGHT, THANKS WA WAS THERE ANY RUMBLINGS THEY WERE GONNA COME BACK AND ASK? UH, THERE'S ALWAYS, WE'RE ALWAYS SORT OF BRACING FOR THAT TO, TO COME UP, BUT I THINK NOT SO FAR. I THINK THEY'RE STILL TRYING TO LIKE, COME UP WITH THE CITYWIDE STRATEGY FOR OPERATIONS AND MAINTENANCE. I THINK THERE'S A MAYBE A SECOND OR THIRD CONSULTING, UH, STUDY UNDERWAY FOR THAT. OKAY. AND THE HOG ELEMENTARY PROJECT, UM, WHAT IS IT THAT ANTICIPATED? UH, WE ARE WORKING THROUGH THE, THE, BASICALLY THE PAYMENT CHECKLIST PROCESS. THE, THE PEDESTRIAN LIGHTS WERE INSTALLED, UH, LESS THAN A MONTH AGO. AND SO CITY TRANSPORTATION IS GOING THROUGH THEIR KIND OF INSPECTIONS PROCESS. AND SO PRETTY MUCH IT'S JUST SORT OF A PAPERWORK PROCESS AT THIS POINT. HAS THERE BEEN ANY, UH, TALKS OR ANY INFORMATION YET ON ANY POTENTIAL NEW PROJECTS IN THE SUBDISTRICT? UH, THE, THE CLARITIN, WE, UM, NOT ANYTHING BEYOND ESTOCK AT THIS TIME. UM, WE'VE GOT A COUPLE OF OTHER POTENTIAL PROJECTS MORE IN, UM, ON THE BISHOP ART SIDE THAT WE'RE JUST IN THE EARLY STAGES OF, UM, HAVING CONVERSATIONS ABOUT MAJOR PROJECTS OR SMALLER, THEY WOULD BE DECENT SIZE. [00:10:13] DOES ANY POTENTIAL LAW CHANGES, UH, AT THE STATE LEVEL IN REGARDS TO PROPERTY TAXES? HAVE ANY BEARING, UH, HAS ANALYSIS BEEN DONE OR, UH, NOT THAT WE KNOW. I MEAN, SOME OF THE LEGISLATIVE CHANGES IN THE LAST MAYBE FOUR OR FIVE YEARS, UM, HAVEN'T IMPACTED TIF DISTRICTS PER SE. BUT EVERY LEGISLATIVE SESSION, THERE'S USUALLY SOME PROPOSALS, THERE'S ALMOST EVERY SESSION, THERE IS A PROPOSAL TO LIMIT THE LIFE OF TIF DISTRICTS TO 10 YEARS, WHICH IS PROBLEMATIC FOR A VARIETY OF REASONS, BUT TYPICALLY CITIES HAVE BEEN ABLE TO LOBBY AGAINST THAT CHANGE. ANYONE HAVE ANY COMMENTS, QUESTIONS? OVERALL, IT WAS A REALLY GOOD YEAR. UM, IT, IT IS REALLY INCREDIBLE TO SEE HOW THIS DISTRICT IS GROWING. I JUST, UH, THE FINANCIALS, BUT THE TERRITORY WISE AS WELL. SO, UM, WITH THAT, UH, I THINK WE NEED A MOTION TO ADOPT IT. UH, CAN I GET A MOTION TO ADOPT, UH, THE, UH, 20 23 20 24 ANNUAL REPORT FOR THE OAK CLIFF GATEWAY THEFT DISTRICT? THIS IS TOM. I'LL MOVE ADOPTION. THANK YOU, TOM. A SECOND, SECOND, SECOND. ALL RIGHT. ALL IN FAVOR? AYE. A GREAT, NO ONE OPPOSED? SO IT PASSES. THANK YOU VERY MUCH, SUE. APPRECIATE IT. UM, ALL RIGHT. UH, I GUESS THE NEXT TOPIC IS OUR CALENDAR FOR, UH, THE UPCOMING YEAR. YES. MOST OF YOU THOUGH, UM, THE CITY SECRETARY'S OFFICE LIKES US TO HAVE A, A REGULAR MEETING SCHEDULED, BUT WE'LL ONLY MEET IF WE HAVE BUSINESS. SO WE HAVE, UM, FOUR QUARTERLY DATES, UM, THAT HAVE BEEN PROPOSED. AND IF WE NEED TO MEET IN BETWEEN, WE'LL, WE'LL DO A SPECIAL CALL MEETING. BUT AGAIN, IF WE DON'T HAVE BUSINESS, THEN WE WON'T HOLD THE MEETINGS. UM, WE TYPICALLY DO OUR ANNUAL REPORT MEETING IN DECEMBER, BUT BEYOND THAT, UM, THESE OTHER DATES ARE REALLY JUST TENTATIVE. UM, SO IF YOU DON'T HAVE THESE IN FRONT OF YOU, WE'RE TALKING, UH, FEBRUARY 24TH, UH, WHICH IS A MEETING THAT I PROBABLY WILL NOT BE ABLE TO ATTEND, UM, UH, APRIL 28TH, UH, FOR THE SECOND QUARTER, UH, SEPTEMBER 22ND AND DECEMBER 15TH. DOES ANYONE HAVE ANY CONFLICTS OR, UM, SUE THE FEBRUARY ONE, IS THAT ONE LIKELY TO HAPPEN? I DON'T THINK SO. AT THIS POINT. I WOULD SAY NOT LIKELY, BUT AGAIN, WE, WE DO NEED TO SORT OF HAVE A PLACEHOLDER, SO. OKAY. PERFECT. PERFECT. UM, TOM, IF YOU, WOULD YOU BE ABLE TO ATTEND IN PERSON? I DON'T HAVE ANYTHING ON THAT RIGHT NOW. OKAY. PERFECT. THANK YOU. THANK YOU. YOU BET. IT'LL BE ABOUT THE SAME SIDE. YEAH, YEAH. ALRIGHT. UM, IF NO ONE HAS ANY ISSUES, UH, WITH THIS, UH, WE, UH, I GUESS WE NEED A MOTION FOR THIS AS WELL. OKAY. UH, WE GET A SECOND. SECOND? OR I'M SORRY, WHO CALLED IT? YEAH, I GOT AHEAD OF MYSELF THERE TO ACCEPT THE DATE. SO THAT WAS ERIC. ERIC, AND THEN LOUISA. ALRIGHT. ALL IN FAVOR? NONE OPPOSED. SO, UH, IT PASSES. WELL, PERFECT. RIGHT. THAT CONCLUDES THE BUSINESS FOR THIS. WELL, THANK YOU EVERYONE. THANK YOU. THANK YOU FOR THE TIME THIS YEAR AGAIN. THANK YOU. ALL RIGHT. 2 27. THANK YOU. THANK YOU ALL. HAVE A GOOD AFTERNOON. BYE-BYE. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.