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ALL RIGHT.

UM,

[00:00:01]

TODAY'S DATE IS JANUARY 14TH, 2025.

[Dallas Vickery Meadow TIF District Board of Directors Special Called Meeting on January 14, 2025.]

UM, AND I'M CALLING TO ORDER THE BAKERY MEADOW TIP DISTRICT, UH, SPECIAL MEETING AT 1:03 PM AND NOW I WILL TURN IT OVER TO GOOD AFTERNOON EVERYBODY.

THANK YOU FOR BEING HERE.

UM, FIRST THING WE'RE GONNA DO IS, UH, CALL TO ORDER AND THE INTRODUCTION OF MEETING PARTICIPANTS.

AND, UM, YOU'VE ALREADY CALLED THE MEETING TO ORDER.

HAVE YOU? ALL RIGHT.

SO LET'S DO, I'M KEVIN GRIFFITH, I'M THE, THE BOARD CHAIR, AND, UM, LOOK FORWARD TO WORKING WITH YOU.

AND THEN, UH, TONY.

SO, I'M TONY WALKER.

I'M ENCLO RESTAURANTS, AND I'M NEW TO THE BOARD.

OKAY.

AND LUIS? I'M LUIS DE MAYO.

I AM THE REPRESENTATIVE FOR DALLAS COUNTY, SO I, UM, THE DIRECTOR OF PLANNING AND DEVELOPMENT FOR DALLAS COUNTY.

OKAY.

I GET SIT ON ALL THE BOARDS, THAT THE DALLAS COUNTY.

OKAY.

DALLAS COUNTY PARTICIPATES.

YEAH.

OKAY.

UM, AND MY NAME'S RYAN DOSS.

UH, I'M A COORDINATOR WITH OFFICE OF ECONOMIC DEVELOPMENT, UH, AND THE BOARD COORDINATOR FOR THE VICTORY MEDICAL FIFTH DISTRICT.

UH, ALSO ON THE CALL IS ALL OFFICE OF ECONOMIC DEVELOPMENT STAFF.

UM, SO WE WON'T GO THROUGH AND INTRODUCE EVERYONE, BUT WE'RE ALL HERE TO ANSWER ANY QUESTIONS SO WE CAN, SO WE CAN MAKE ITEM NUMBER TWO.

OKAY.

UM, ITEM NUMBER TWO IS PUBLIC COMMENTS PERTAINING TO THE AGENDA ITEMS THREE THROUGH FIVE.

AND, AND I DO NOT SEE ANY MEMBERS OF THE PUBLIC ON CALL, SO I THINK WE ARE FREE TO MOVE ON TO THE NEXT.

OKAY.

NUMBER THREE, REVIEW AND CONSIDERATION OF THE MEETING BOARD OF DIRECTORS.

UH, DECEMBER 12TH, 2023, MEETING OF THE IFF BOARD DISTRICT BOARD OF DIRECTORS.

UM, THAT'S YOU GONNA TAKE THAT, UH, SO LISTENS THE MINUTES FOR, FROM OUR LAST MEETING THAT WE HAD.

UM, SO IF ANYONE HAS ANY QUESTIONS OR YOU'RE, UH, I HOPE EVERYONE HAVE A CHANCE TO, TO TAKE A LOOK AT THEM.

UM, BUT NOT WE CAN ENTERTAIN.

OKAY.

I'LL ENTERTAIN A MOTION TO, UM, WHAT? JUST APPROVE, APPROVE, APPROVE THE MINUTES FROM THE, FROM THE MEETING.

I SECOND THEM.

WE NEED IT FIRST.

YEAH.

DOES ANYBODY MOVE? I'LL MOVE TO APPROVE THE MINUTES FROM OUR LAST MEETING.

SECOND, AND THEN SAY ALL LATER.

OH, OKAY.

I'LL PLEASE.

AYE.

AYE.

ALRIGHT.

ALRIGHT.

NUMBER FOUR, REVIEW CONSIDERATION OF THE VICTORY MEADOW DISTRICT PANEL REPORT FOR 2324.

UM, AND, AND I, IF, IF THE BOARD WILL, I WILL, UH, JUST TAKE A VERY BRIEF OVERVIEW OF THIS ANNUAL REPORT.

NOT MUCH HAS CHANGED, UM, YOU KNOW, SINCE LAST YEAR OR EVEN THE YEAR BEFORE THAT.

BUT, UH, CHAIR, IF THAT'S OKAY, IF YOU'LL GO AHEAD AND GO OVER SOME HIGHLIGHTS.

SO I AM PRESENTING THE FY 2324 ANNUAL REPORT FOR THE VICTORY DISTRICT WITH UPON APPROVAL AND RECOMMENDATION FROM THE BOARD, UH, THE ANNUAL REPORT, ALONG WITH, UH, ALL OF THE ANNUAL REPORTS FROM OUR OTHER TIP DISTRICTS WILL GO BEFORE COUNCIL CHECK.

UM, ILEANA, CAN WE GO TO PAGE FOUR? THANK YOU.

UM, SO AS WE ALL KNOW, THE TIP DISTRICT TOOK EFFECT IN 2006 AND WE HAVE COMPLETED YET ANOTHER YEAR OF ITS EXISTENCE.

UM, AND JUST AS A REMINDER, WE ARE SET TO TERMINATE AT THE END OF 2027.

UM, AND THAT WILL INCLUDE THE COLLECTION OF 27 INCREMENT, THE CALENDAR YEAR, CALENDAR YEAR 2028.

UM, AND SO WE ARE, WE ARE GETTING CLOSER, UH, UM, ELIANA, ONE OF OUR BOARD MEMBERS IS TRYING TO GET IN, UM, MS. THURMAN, UM, IN CASE, UH, YOU'RE ABLE HELP HER AT ALL.

UM, ALL RIGHT.

CAN WE GO TO THE NEXT PAGE? JULIANA? UH, SO THE ONLY REAL PROJECT OR DEVELOPMENT OF NOTE THAT WE'VE BEEN KEEPING OUR EYES ON AS OF LATE IS THE, UH, AT PRICE FOLKS MULTIPHASE DEVELOPMENT KIND OF BEHIND REI AND STARBUCKS IS THEIR SECOND PHASE.

SO STATEY YARD, WHICH I BELIEVE HAS BEEN OPEN FOR MORE THAN A YEAR NOW.

UM, AND THEN THAT BEAUTIFUL OFFICE BUILDING RIGHT BEHIND STATEY YARD IS, APPEARS TO BE NOW, UH, LEASING AND TENANTS ARE MOVING IN.

UM, I BELIEVE THERE'S A DENTAL OFFICE

[00:05:01]

COMING TO THE FIRST FLOOR.

AND LYNN, MOVING ON TO ILEANA, CAN WE GO TO PAGE 10? PERFECT, THANK YOU.

UM, SO FOR THE VALUE AND INCREMENTS SUMMARY, SO THE TIF DISTRICT'S 2024 ASSESS TAXABLE VALUE, UH, IS 662 MILLION $146,342.

UM, THAT IS A 300, UH, AND 2% INCREASE OVER A ADJUSTED BASE YEAR FROM 2005, AND THEN FROM LAST YEAR, THAT'S A 1.7% INCREASE.

UM, SO WITH THE CITY'S PARTICIPATION RATE IN THE TIP DISTRICT OF 80% IN THE COUNTY'S PARTICIPATION RATE, 55% ARE, UH, THAT WE WILL COLLECT FOR THIS PAST FISCAL YEAR WILL BE 3,387,000 AND A HUNDRED.

UM, AND THEN MOVING FORWARD, ANA, CAN WE GO TO PAGE 12 ? UM, SO THE CITY COUNCIL DID NOT, AND THE BOARD DID NOT HAVE ANY, UH, OTHER SUBSEQUENT, UH, ITEMS TO CONSIDER THIS YEAR BESIDES THE REPORT.

OBVIOUSLY, QUICKLY WE GO FROM THERE.

UM, CAN WE GO TO PAGE 15? LEON, HERE'S OUR FY 20 24, 20 25 WORK PROGRAM.

UM, YOU MAY NOTICE THIS IS VERY SIMILAR TO LAST YEAR.

UH, YOU KNOW, IT, IT GOES UNCHANGED, BUT OUR OFFICE IS CONTINUING, UH, TO COORDINATE WITH, UH, THE COUNCIL MEMBER WITH YOUR OTHER CITY DEPARTMENTS, UM, AND THE PUBLIC IMPROVEMENT DISTRICT, UH, TO, YOU KNOW, ESSENTIALLY CLOSE STRATEGICALLY CLOSE OUT THE TIP AT THE END OF 2027, UM, AND INSIST IN IMPROVEMENTS IN, UH, THE FIVE POINTS HERE, UH, OR ANY OTHER INITIATIVES THAT, YOU KNOW, COME UP OUTSIDE THE SHOPS.

AND THEN IA, DO YOU MIND JUST KIND OF SLOWLY GOING THROUGH THE NEXT FEW PAGES? UH, HERE ARE FINANCIALS.

UH, THESE ARE THE FINAL FINANCIALS THAT'LL GO IN FRONT OF CITY COUNCIL.

UM, AND THIS IS, WE, WE LIKE TO POINT OUT THE ONLY PART THAT THE STATE ACTUALLY REQUIRES US TO SUBMIT FOR THE, FOR THE ANNUAL REPORTS.

UM, EVERYTHING ELSE IS KIND OF OUR EFFORT TO GO ABOVE AND BEYOND TO GIVE A ACCURATE PICTURE TO THE T DISTRICT.

UM, ELIANA, CAN WE GO TO PAGE 19? AND SO TO KIND OF CONCLUDE IT ON THIS PAGE, THE, THE EXCITING NEWS IS THIS SUMMER, THE TIP DISTRICT WILL FINALLY PAY OFF OUR OBLIGATION TO THE CHOP AT PARK LANE.

UM, WE HAVE AN ANTICIPATED BALANCE OF 1.3 MILLION.

IT, IT MIGHT CHANGE SLIGHTLY DEPENDING ON, YOU KNOW, OUR FINAL PAYMENT DATE AND THE INTEREST THAT OCCURS.

UH, BUT THAT'S ACTUALLY GONNA LEAVE US, UM, SOME INCREMENT TO COLLECT FOR THE VICTORY MEADOW T FUNDS AND ACTUALLY START GIVING US SOME FUNDING TO, TO PURSUE OTHER PROJECTS.

UM, AND SO WITH THAT, THAT'S KIND OF THE, THE HIGHLIGHTS OF THE ANNUAL REPORTS.

SO I'LL ENTERTAIN ANY QUESTIONS.

WHAT, WHAT ARE THE, UH, WHAT ARE THE, UH, ADMINISTRATIVE COSTS ON AN ANNUAL BASIS? HOW ARE THEY DERIVED? WHAT ARE THEY CONSIST OF? SO, SO ADMINISTRATIVE EXPENSES, $42,000.

YEAH.

SO PART OF THAT IS MY STAFF'S TIME SPENT ON WORKING WITH THE, THE TIFF DISTRICTS AND SPECIFICALLY VICTOR MEADOW, TIFF.

SURE.

UM, AND WE LONGER SO TO, TO REFLECT THAT UHHUH.

UM, I DON'T, IT'S ALSO OUR, WE'VE GOT OUR, OUR FINANCE STAMP ONLINE IF YOU REALLY WANT DEEP DETAILS, BUT THE CITY DOES LIKE AN OVERHEAD CHARGE KIND OF THING FOR EVERYTHING.

AND THERE'S MAYBE A LITTLE PIECE OF THAT IN THERE TOO.

OKAY.

THIS, ALL THESE ADMINISTRATIVE FEES GO TO THE CITY.

YEAH, THEY KIND OF BASICALLY LIKE COST RECOVERY WITHIN OUR FUNDS COLLECTED.

OKAY.

SORRY, I DID HAVE ONE QUESTION.

THIS IS LUIS.

I NOTICED THAT THE 23 TO 24 GROWTH WAS 1.7%, IS THAT CORRECT? IS THAT ACCURATE? YEAH, THAT'S, THAT'S FAIRLY LOW AS COMPARED TO SOME OF THE OTHER DALLAS TIFFS.

UM, AND, AND THE CITY AS A WHOLE, UH, DO YOU FORESEE IN THE NEXT COMING YEARS, UH, PROJECTS OR SUSTAINED GROWTH IN THE AREA? THAT'S, THAT'S A GREAT QUESTION, LUIS.

AND YOU KNOW, I WAS HONESTLY SURPRISED AT KIND OF THE 1.7% GIVEN PREVIOUS YEARS, YOU KNOW, EVER, EVER KIND OF SINCE THE COVID.

UM, THERE'S BEEN DRASTIC INCREASES.

[00:10:01]

UM, AND NOW IT SEEMS TO SLOW A LITTLE BIT, UH, FOR, FOR THE PROJECTS.

UM, PART OF YOUR QUESTION, WE ARE PURSUING, YOU KNOW, DIFFERENT OPPORTUNITIES, UH, SPECIFICALLY IN FIVE POINTS AREA.

UM, BUT IT'S, UH, IT'S VERY UP IN THE AIR, UM, AT THE MOMENT AND WE'RE CONTINUING TO, TO LOOK INTO THAT.

OKAY, GREAT.

YOU KNOW, I, I JUST NOTICED THAT, YEAH, THE, IT WAS KIND OF A RATHER LOW, LOW NUMBER.

NO, I AGREE.

OKAY, THANKS.

UM, SO IT'S STATED IF, YOU KNOW, IF THE ANNUAL REPORT IS APPROVED AND RECOMMENDED TO CITY COUNCIL, THEN WE'LL GO IN FRONT OF CITY COUNCIL IN FEBRUARY, UM, BARRING ANY GRAMMATICAL CHANGES THAT MAKES WITH THAT, IF THERE'S MORE QUESTIONS, I'LL CONCERN.

OKAY.

SO I NEED TO ASK FOR A MOTION TO ACCEPT THIS ANNUAL REPORT AND SUBMIT IT TO CITY COUNCIL.

MOTION TO ACCEPT AND SUBMIT TO THE CITY MAYOR ALL SAY AYE.

AYE.

YEAH.

SO THE FIFTH ITEM IS REVIEW AND CONSIDERATION OF REGULAR MEETING SCHEDULED FOR THE VICTORY DISTRICT BOARD OF CORRECTIONS FOR CALENDAR YEAR JUNE, 2025.

SO YEAH, THIS IS OUR, YOU KNOW, WE, WE DID THIS EVERY YEAR, KIND OF PUT OUT FOR BOARD APPROVAL, THE, OUR QUARTERLY REGULAR, REGULAR MEETING DATES.

UH, THANK YOU EVERYONE.

UM, THESE ARE JUST THE SUGGESTED OPTIONS.

UM, AS YOU ALL KNOW WITH THIS BOARD, WE DO NOT MEAN THAT THERE'S NOT ANY SUBSTANTIVE ITEMS, UH, TO TAKE ACTION ON.

UM, AND SO HOPEFULLY, UH, OUR FINGERS ARE CROSSED THAT WE MEET BEFORE NEXT DECEMBER.

UM, BUT THESE ARE JUST, UH, YOU KNOW, IF, IF WE HAVE ACTIONS TO TAKE, THEN THESE WOULD BE OUR LEAVE DATES.

YOU KNOW, WHERE THOSE DATES, UH, THEY ON THE VERY BEST TUESDAYS ARE TYPICALLY COURT DATES AT THE COUNTY.

I DON'T KNOW IF THESE FALL ON COURT DATES.

I'LL, I, I CAN CHECK.

UM, OKAY.

BUT ONE O'CLOCK IS ABOUT WHEN THEY LET OUT.

UM, SO THEY MAY, IT MAY BE TOUGH.

I'LL, I'LL TRY.

UM, WELL THAT SOUNDS, THAT SOUNDS GOOD LUIS.

AND WE CAN ALWAYS SUGGEST OKAY.

AND LIKE I SAID, TODAY'S NOT A COURT DATE.

IT WAS NOT A PROBLEM.

OKAY.

PERFECT.

THESE EXHIBIT ONE ARE GREAT.

PERFECT.

AND THESE ARE JUST SUGGESTED IF, IF WE DON'T BELIEVE WE CAN BE A FORUM, UM, THEN WE'LL, WE'LL ADJUST THE MEETING DATE.

OKAY.

UH, THE RECOMMENDATION TO APPROVE THIS TENTATIVE SCHEDULE, UM, FOR UNDER YEAR 2 20 25.

I GET A MOTION.

APPROVE THIS.

I'LL MAKE THE MOTION SECOND.

I SECOND IT SECOND.

SHE DID, YES.

OKAY.

ALRIGHT, GREAT.

WELL, ALL IN FAVOR SAY AYE.

AYE.

AYE.

PERFECT.

PASS IT.

WE NEED A MOTION TO AGENDA.

WE DONE? YEAH, NO, I, I MEAN WE CAN CALL A MEETING TO AN END AT ONE 17, SO I APPRECIATE IT.

THANK YOU ALL.

THANK YOU EVERYBODY FOR JOINING.

THANK YOU GUYS.