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[Maple/Mockingbird TIF District Board of Directors Special Called Meeting on January 15, 2025]
WE DO, I HAVE YOUR CAMERA ON.SO THANK YOU VERY MUCH, UH, AND MAKE SURE YOU'RE ON MUTE.
UM, CALL TO ORDER IS THREE OH SIX.
UM, UH, AGENDA ITEM NUMBER TWO IS INTRODUCTION OF MEETING PARTICIPANTS.
I AM LUIS AMAYA, THE REPRESENTATIVE FOR DALLAS COUNTY
FOR OUR BOARD CHAIR TODAY IS VICE CHAIR.
MY NAME IS DAVE FORD AND I'M A VOLUNTEER.
I'M RETIRED FROM THE HOTEL BUSINESS AND I WAS LOOKING OUT THE WINDOW AND SAW THE SHIRT IN THE HOTEL.
I WAS INVOLVED ALSO IN THE A OFFICER CHURCH AT THE JUSTICE, SO DO WITH OUR ONLINE NUMBERS.
BETSY, YOU WANNA GO NEXT? NEIL? UM, I'M BETSY.
I AM THE EXECUTIVE DIRECTOR FOR THE DICKEY FOUNDATION, UM, AND LIVE OVER OFF OF PARKLAND NEAR, UH, THE MAPLE MOCKINGBIRD, TIFF, AND JB HI, I'M JB HAYES.
I AM, UM, I WORK IN THE AREA AS A REAL ESTATE AGENT.
UM, I'M FORMALLY WITH THE CEDARS DIFF.
UM, YES, I THINK EVERYBODY'S ONLINE STAFF.
UM, ALRIGHT, UH, AGENDA ITEM NUMBER THREE, THE COMMENTS PERTAINING TO AGENDA ITEMS. IS THERE ANYONE FROM STAFF WHO WANTS TO TALK TO? OKAY.
UM, LET ME JUMP IN REAL QUICK.
ELIANA, COULD YOU, UH, GO AHEAD AND OPEN UP THE PRESENTATION PLEASE TO THE AGENDA PAGE FOR CONSIDERATION OF RECORD FOR DECEMBER 21ST, 2023 FOR DISTRICT BOARD DIRECTORS DISCUSSION
SECOND
UH, EVERYONE IN FAVOR, MS. RACHEL A AYE.
JUST NEED TO SPEAK A LITTLE LOUDER TOWARDS THE MICROPHONE.
YOU MIGHT HAVE THE WRONG CONVERSATION.
WHICH ONE? UM, THE ONE THAT I SENT IS JUST, IS THAT THE ONE THAT YOU JUST PULLED UP? YEAH.
DID YOU, DID YOU THE AGENDA? UM, I JUST, THE ONE THAT I SENT IN THE, UM, ANNUAL REPORT HAS GOT HIGHLIGHTS IN IT, UHHUH.
SO IF YOU CAN JUST DOUBLE CHECK AND MAKE SURE THAT THAT'S WHAT WE GOT PULLED UP.
UH, I DIDN'T, NUMBER SIX, MR.
LET, JUST MAKE SURE IT'S THE, THE CORRECT VERSION.
WE DON'T HAVE THAT, IN FACT, DO WE IN THE REPORT? IT WAS SAID SEPARATELY, BUT IT'S, IT'S GONNA BE PROJECTED UP HERE ON THE SCREEN FOR YOU.
I, IT IS THAT IT ON THE SCREEN? UM, I, WE'RE ABOUT TO FIND OUT.
IT'S GONNA BE MULTIPLE PAGES INTO IT.
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YOUR PATIENCE WITH HAVING TO, TO RESCHEDULE THIS MEETING.I KNOW THAT WAS KIND OF THE LAST MINUTE, UM, RUSH AND, AND I KNOW CREATED SOME PARTNERSHIPS THAT I THINK THAT GREER ISN'T ABLE TO ATTEND THE MEETING, UM, AS A RESULT OF ALL SHIFTING.
SO I APPRECIATE YOU BEING WILLING TO BE FLEXIBLE WITH YOUR TIME.
UM, AND, UH, ALTHOUGH WE'RE, WHAT, TWO WEEKS INTO A HAPPY NEW YEAR,
IT'S A BEAUTIFUL DAY OUTSIDE TOO.
IT'S A BEAUTIFUL HALFWAY THROUGH JANUARY DAY.
UM, OKAY, SO IT'S MY PLEASURE TO WALK YOU THROUGH THE, UH, RESULTS OF OUR LAST FISCAL YEAR.
AND I THINK WE HAD A REALLY POSITIVE YEAR.
UH, FIRST THING I WANTED TO POINT OUT TO YOU IS RIGHT HERE ON THE COVER PAGE, OAK LONG PLACE, UM, OUR LITTLE CROWN JEWEL WE'VE WORKING ON THIS LAST YEAR IS UP AND RUNNING.
IT'S FULLY OCCUPIED, IT'S ABSOLUTELY BEAUTIFUL PROPERTY.
CAN YOU GO BUY IT? IS THAT A POSSIBILITY? CAN YOU GO BUY IT? GO, GO INTO IT? YES, YES, YES.
I, I HAD HAD ALLUDED TO THAT HAPPENING LAST YEAR AND WE NEVER WERE ABLE TO DO IT, BUT I'M GONNA TRY TO MAKE THAT HAPPEN.
PERHAPS AT OUR NEXT BOARD MEETING.
UM, AND FOR THE HOST FOR US, I GOTTA MAKE SURE WITH, WITH THE, UH, CHRISTINA.
I WAS JUST BY THERE BY CHANCE.
UH, SOMETHING ELSE IN THE AREA AND WE SAW IT.
THIS LOOKS, IT IS, IT'S VERY AGGRESSIVE.
FULLY OCCUPIED WITHIN, GOSH, I'LL BE A COUPLE OF MONTHS CONGRATS.
AND THEY HAD A WAITING LIST, YOU KNOW, PROBABLY BEFORE THEY EVEN OPENED THE DIVORCE.
SO IT WAS A CLEARLY A VERY MUCH NEEDED, UM, OFFERING IN THE NEIGHBORHOOD AND, UM, HAS HAD RA RAY REVIEWS AND I'LL TELL YOU A LITTLE BIT MORE ABOUT THAT WHEN WE GET INTO FURTHER INTO THE REPORT.
SO, ELIANA, IF YOU CAN GO AHEAD AND GO TO, I BELIEVE, UH, PAGE FOUR IS WHERE WE'LL KICK OFF.
UM, SO LET ME START BY TALKING ABOUT WHERE, WHERE, HOW WE STARTED AND WHERE WE'RE WE'RE ENDING.
UH, THE DISTRICT WAS FORMED IN 2009.
SO AT THIS POINT IN TIME, WE'RE ABOUT 16 YEARS INTO, IT TERMINATES IN 2033.
UM, THE CITY PARTICIPATED WHEN IT WAS FIRST ESTABLISHED.
UH, THE CITY CAPTURED 70% OF THE INCREMENT OF PROPERTY VALUE EVERY YEAR.
AND THEN IN 2012, THAT RAISED TO 85%.
AND I THINK IT'S IMPORTANT TO NOTE THAT IN TWO YEARS IN 2027, WE'RE DROPPING BACK DOWN TO 70%.
SO OUR, OUR COLLECTIONS WILL START TO REDUCE A LITTLE BIT AND THAT WORKS OUT, AS YOU'LL SEE AS WE MOVE THROUGH THE BUDGET THAT WE'RE ON TARGET WITH BUDGET.
SO WE'LL, WE'LL BE ABLE TO MAINTAIN THAT REDUCTION, UM, UH, ACCOMPLISHMENTS.
THERE'S A COUPLE OF THINGS THAT HAVE HAPPENED THIS PAST FISCAL YEAR THAT I WANTED TO GO OVER WITH YOU.
AND OUR MISSION STATEMENT, IT TALKS ABOUT, UM, THAT TWO VERY IMPORTANT ASSETS TO THE MOCK FIFTH DISTRICT, ALTHOUGH THEY'RE NOT PHYSICALLY WELL IN STATION IS, BUT, UM, LEFT FIELD IS NOT PHYSICALLY WITHIN OUR BOUNDARY.
IT'S, I THINK, UH, 2000 FEET FROM IT.
UM, IT'S A GOOD NEIGHBOR AND IT'S IMPORTANT TO US AND, AND OUR, UM, ECONOMIC DEVELOPMENT.
UH, THEY HAVE UNDERTOOK A NEW PROJECT TO, UM, BEAUTIFY THEIR, THEIR ENTRYWAY, THEIR LOVE FIELD, THEIR LEMON AVENUE LOVE FIELD GATEWAY.
AND I'VE HIGHLIGHTED HERE THE THINGS THAT THEY'RE ARE UNDERTAKING AS PART OF THAT INITIATIVE.
SIDEWALKS, BICYCLE PATHS, LANDSCAPING, UM, ALL KINDS OF STREETSCAPE IMPROVEMENTS.
AND THEY GOT STARTED WITH THAT IN 2023.
UM, THEY PUT IN THE SIDEWALK AND BICYCLE PATHS ALONG SHORE CREST AS WELL AS TRAIL AND MEDIAN LIGHTING ALONG LEMON.
SO THEY'RE MOVING RIGHT ALONG WITH THAT PROJECT AND THEY'RE ANTICIPATING TO COMPLETE IT BY FALL OF THIS YEAR.
AND COMMUNICATION, THEY WERE ON TARGET TO DO SO.
SO THAT WILL LIFT THE, THE LOOK OF THE AIRPORT AND IMPROVE THE AIRPORT, AND THAT IS A POSITIVE THING FROM MAPLE MOCKINGBIRD, TIFF.
UM, ALSO, WE, WE TAKE, UH, A CLOSE LOOK AT WHAT'S HAPPENING AT THE, UM, LOVE FIELD INWOOD LIGHT RAIL STATION EVERY YEAR.
UM, THE AVERAGE DAILY RIDERSHIP FOR FISCAL YEAR 2024 WAS 1044, WHICH IS A 19% INCREASE FROM THE YEAR BEFORE.
UM, AND THAT AMOUNTS TO, WELL, IS IT POSSIBLE TO ENLARGE THE PAGE JUST A LITTLE BIT? I'M HAVING TROUBLE READING IT WITH MY READER IF THERE BE ANY HELP, IF THAT.
UM, THE, THE, THE AVERAGE WAS 1044 AND THE 6% INCREASE YEAR.
THE, UH, TOTAL FOR THE YEAR IS ABOUT 350,000.
UH, AND WE JUMPED UP THREE SPACES IN THE RANKING OUT OF 65 STATIONS CITYWIDE, WE WENT FROM 23 TO 20.
SO THAT TELLS YOU THAT WITH THE, UH, MORE AND MORE PEOPLE MOVING INTO THE AREA, THE ROCKETSHIP NUMBERS WERE INCREASING AS WE HAD PREDICTED.
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THAT'S, THAT'S A GOOD THING.AND IF WE WANNA SCROLL DOWN A LITTLE BIT FURTHER THEN BACK TO OAKLAWN PLACE THAT THIS IS A PICTURE OF THE PROPERTY JUST AT DUSK.
AND AS I SAID, IT'S REALLY BEAUTIFUL AND I DO WANNA TRY TO PUT A MEETING TOGETHER SO YOU CAN ALL SEE IT LIVE IN PERSON.
UM, THE, UH, PROJECT, WE ENDED UP WITH A, UM, FUNDING TOTAL OF 5.4 MILLION, AND WE ARE ON THE VERY END OF COLLECTING ALL THE DOCUMENTS THAT ARE REQUIRED FOR PAYMENT.
THEY SEND ALL THE DOCUMENTS TO ME IN A BINDER.
HE DOES ALL THE NUMBERS, KEEPS ME HONEST, AND I, I DON'T KNOW ROGER ABOUT IT,
UM, BUT WE COLLECT ALL OF THESE DOCUMENTS AND, UH, SEND IT THROUGH ALL THE DIFFERENT CHANNELS OF APPROVALS.
AND THEN IT FINALLY GOES TO, UM, TO THE PAYABLE SECTION.
SO WE SHOULD HAVE A ONE PLACE PAYING WITHIN THE NEXT MONTH.
AND THEN WE TURN EVERYTHING OVER TO OUR INTERNAL COMPLIANCE TEAM.
AND WE HAVE AN ONGOING RELATIONSHIP TO MAKE SURE THAT EVERYTHING WE AGREED TO AND CONTINUES TO HAPPEN.
AS A MATTER OF FACT, SORE THAT WON A AWARD.
IT WON THE, UH, 2024 IEDC EXCELLENCE AWARD IN THE CATEGORY OF ECONOMIC EQUITY AND INCLUSION.
WE WON A SILVER AWARD, OR THEY DID, I SHOULD SAY.
UH, BUT, UH, IT SHOWS YOU THE, THE VALUE IN HOW THE, THE, UM, INTERNATIONAL WORLD IS LOOKING AT THESE KINDS OF PROJECTS.
AND, AND I'M GIVING A NOD TO THEM.
SO WE'RE REAL PROUD OF BEING INVOLVED IN THIS, AND THIS IS THE SUCCESS THAT IT HAS HAD.
THIS IS A CONDENSED LOOK AT AT THE PROJECTS WE'VE TAKEN OVER THE PAST 16 YEARS.
UM, THE TOP THREE ARE THE ONES THAT HAVE BEEN FUNDED BY TIFF, UH, DOLLARS.
UM, THESE WERE ALL BEFORE ANY OF OUR TIME.
SO MAYBE YOU, LUIS, YOU MIGHT, MIGHT HAVE BEEN AROUND.
UM, THE FIRST PROJECT WAS MAKE ME CENTER AND THEN A LOFT DALLAS LOVE FIELD, WHICH IS A HOTEL PROJECT.
AND THEN OF COURSE, OAKLAND PLACES ON THE LIST NOW.
SO BASICALLY 16 MILLION, 16.4 MILLION OF TIFF INVESTMENT HAS LEVERAGED ABOUT 85 MILLION IN VALUE.
I THINK THAT THOSE ARE A REALLY GOOD RETURN.
UM, AND RESULTED IN 333 RESIDENTIAL UNITS AND A 232 KEY HOTEL
I THOUGHT YOU WERE, I THOUGHT YOU WERE.
OKAY AL IF YOU WANNA KEEP SCROLLING DOWN THESE NEXT, UM, THESE ARE ALL MULTIFAMILY PROPERTIES THAT HAVE COME ABOUT IN THE LAST 12 YEARS THAT HAVE NOT REQUESTED ANY FUNDING FROM THE TIFF, BUT TWO OF THEM WERE ON, UM, OUR CHART LAST YEAR.
INWOOD STATION WAS PURCHASED BY THE DALLAS HOUSING AUTHORITY AND IT WAS LAST YEAR.
WE HAD IT ON AT 34 VALUE OF 34, 4 0.3 MILLION.
AND THEN THE, UH, MAPLE HIGHLINE WAS JUST COMPLETING CONSTRUCTION AND THE DPFC BOUGHT IT AND IT HAD, WAS VALUED AT 28 MILLION, UM, BEFORE IT WENT OFF THE, THE TAX ROLLS.
SO, UM, THE NEXT SLIDE GIVES YOU A GRAND TOTAL AND THAT IS, UM, 3000, ROUGHLY 3,800 RESIDENTIAL UNITS IN A HOTEL.
THE $16 MILLION INVESTMENT RESULTING IN ABOUT, UM, 660 MILLION FUND VALUE.
SO THOSE, THOSE ARE NUMBERS WE CAN BE PROUD OF.
ALRIGHT, UM, THE NEXT SLIDE, UH, WE CAN KEEP GOING OVER TO THE NEXT ONE, WHICH IS MIXED INCOME HOUSING.
SO ANY PROJECT THAT THE TIP IS INVOLVED IN THAT IS, HAS A RESIDENTIAL COMPONENT, IS SUBJECT TO OUR MIXED INCOME HOUSING GUIDELINES.
AND, UM, PART OF OUR PLAN POLICY, WHICH SAYS THAT 20% OF ALL OF THOSE UNITS THAT ARE BUILT HAVE GOT TO BE PRICED AT, AT OR BELOW 80% OF A MFI.
AND OUT OF THE 333 RESIDENTIAL UNITS THAT WE'VE CONSTRUCTED, 40% HAVE BEEN BUILT USING OR HAVE BEEN, UM, SET ASIDE AS AFFORDABLE.
SO WE'VE EXCEEDED THAT, UH, THAT GOAL AND THAT'S REALLY GREAT AS WELL.
UM, OUR, OUR TOTAL VALUE AND INCREMENT SUMMARY, THIS IS A LOOK AT WHENEVER THE TIF DISTRICT WAS ESTABLISHED, IT WAS VALUED AT 184 MILLION.
IT'S NOW 1.1 BILLION, UM, WHICH IS A 503% INCREASE, WHICH IS, I'M PROB UH, NO SURPRISE TO ANY OF US THE WAY THAT THE DALLAS HAS GROWN AND OUR, OUR VALUES HAVE GROWN AS WELL.
AND THEN YEAR OVER YEAR, WE'VE INCREASED 13%, WHICH WILL RESULT IN COLLECTION OF SIX POINT, ROUGHLY 6.7 MILLION IN FOR THE TIF INCREMENT FOR THE THIS FISCAL YEAR.
WANNA KEEP GOING DOWN A LITTLE BIT?
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SO, AS FAR AS OUR GOALS ARE CONCERNED, THAT FIRST GOAL, HOW ARE THE, THE FIRST ONE WE'VE ALREADY DISCUSSED? UM, THE SECOND ONE IS, UH, THE SPECIFIC GOAL ABOUT RESIDENTIAL AND RETAIL AND THE PLAN ORIGINALLY, UM, HAD A VISION OF 2,500 NEW RESIDENTIAL UNITS.IF YOU GO DOWN TO THE NEXT PARAGRAPH, YOU SEE THAT WE ALREADY HAVE 3,828.
SO WE HAVE EXCEEDED OUR RESIDENTIAL GOAL.
HOWEVER, SEE, RETAIL, OFFICE AND MEDICAL, UM, BUT NOT, NOT, NOT SO MUCH.
UM, WE JUST HAVEN'T HAD DEVELOPERS COMING IN TRYING TO DEVELOP RETAIL OFFICE AND MEDICAL WITHIN THE MEDI, THE MAPLE MOCKINGBIRD BOUNDARIES.
BUT AS I SAID BEFORE, THE, THE DISTRICT IS STILL NOT 75% THROUGH ITS, ITS LIFESPAN AND WE'VE GOT NINE MORE YEARS.
AND WE ARE EXPECTING THAT WITH ALL OF THE NEW, UM, UH, RESIDENTIAL THAT'S COME INTO THE NEIGHBORHOOD THAT WILL START TO LOOK, UH, ATTRACTIVE TO DEVELOPERS AND WE'LL START TO SEE MORE OF THOSE CATEGORIES, UM, COME INTO THE DISTRICT AS WELL.
UH, THE LAST LINE IS OUR OVERALL BUDGET AND THE BUDGET IS ANTICIPATED TO, UM, BRING IN 53 MILLION IN TODAY'S DOLLARS.
AND WHERE WE ARE RIGHT NOW WITH THAT ON THE NEXT PAGE IS I THINK WE'RE 37, 30 7 MILLION, WHICH IS 70%.
SO KNOWING THAT WE'RE ABOUT 75% THROUGH THE LIFESPAN AND WE'RE AT 70% IN COLLECTIONS, WE'RE, WE'RE RIGHT ON TRACK.
UM, SO WE MIGHT EVEN EXCEED THAT GOAL.
UM, OKAY, SO MOVING ON THROUGH, I'M, I'M NOT GOING THROUGH EVERY SINGLE THING THAT THE THINGS I'M SKIPPING ARE THINGS THAT, THAT I, THAT I DON'T THINK ARE, ARE NECESSARY FOR US TO RECAP.
UM, NEXT PAGE, UM, UH, THIS IS THE PAGE IS PROBABLY THE HARDEST TO UNDERSTAND.
UM, AND THIS IS OUR, OUR VALUE OR OUR BUDGET, UH, FROM, IT'S IMPORTANT TO NOTE
UH, THE FIRST FOOTNOTE SAYS THAT, UM, THE REVENUE SHOWED OUR ESTIMATED TOTAL DOLLARS TO BE COLLECTED OVER THE ENTIRE LIFE OF THE TIFF DISTRICT.
SO THIS IS NOT OUR CURRENT DAY BUDGET.
WE DO NOT HAVE 52.5 MILLION IN OUR BUDGET RIGHT NOW.
ILEANA, IF YOU CAN GO DOWN A LITTLE BIT TO THE NEXT CHART.
UM, SO WHEN THE ORIGINAL BUDGET WAS WRITTEN, IT WAS, UM, PROJECTED THAT WE WOULD HAVE ABOUT 28 MILLION OVER THE, UH, 25 YEAR LIFESPAN OF THE, OF THE TIF IN TODAY'S DOLLARS.
IF YOU LOOK BACK UP, THAT EQUATES TO ABOUT 52.5 MILLION.
AND EVERY YEAR WE, AS WE DO OUR ANNUAL REPORTS, WE RECALIBRATE OUR BUDGETS, WE GO IN INTO OUR, UH, INCREMENT SPREADSHEETS AND WE PUT IN THE, THE, THE CURRENT TAX CITY TAX RATE, COUNTY TAX RATE, UM, THE, THE FINAL CERTIFIED VALUE OF THE PROPERTY FOR THE FISCAL YEAR.
AND THEN WE GO INTO OUR ALLOCATED SECTION AND UPDATE WHAT HAS HAPPENED AND WHAT WE'RE THINKING MIGHT HAPPEN.
AND SO WHAT YOU'RE REALLY LOOKING AT AT IS IF WE DO MEET OUR PROJECTION OF 52 MILLION AND WE KEEP GOING AS WE'RE GOING, THEN WE SHOULD HAVE, WE HAVE, WE WOULDN'T HAVE A HEALTH, A HEALTHY BALANCE TO, TO TAKE ON NEW PROJECTS AS WE MOVE THROUGH THE NEXT NINE YEARS.
BUT, BUT AGAIN, WE DON'T HAVE 52.5 MILLION.
WE HAVE, UM, 11.4 MILLION IN CASH IN HAND AT THIS POINT.
AND THAT IS, UM, UH, DEPICTED IN THE SOME PAGES, A FEW, FEW SLIDES DOWN.
SO IF WE WANT TO GO TO THE NEXT PAGE, PLEASE.
UM, MINORITY AND WOMEN BUSINESS ENTERPRISES, THIS IS SOMETHING THAT IS REQUIRED FOR ANY OF OUR PROJECTS, UM, THAT PERTAINS PARTICULARLY TO CONSTRUCTION.
YOU HAVE TO HAVE AT LEAST 32, 30 2% OF YOUR CONSTRUCTION COSTS, UM, THAT WILL BE DEDICATED TO MINORITY WOMEN OWNED BUSINESS ENTERPRISES, CONTRACTORS, AND OAKLAWN PLACE IS THE ONE WE'RE LOOKING AT THIS YEAR.
THEY'VE EXCEEDED THAT REQUIREMENT AT 35%.
AND THEN LET'S SEE, THE WORK PROGRAM, THIS IS WHAT WE'RE PLANNING ON DOING THIS YEAR.
UM, PROMOTE NEW DEVELOPMENT PROJECTS IN THE TIFF, INCLUDING DEVELOPMENT SITES ON MOCKINGBIRD.
AND I'LL, I'LL GIVE YOU A LITTLE SPOILER ALERT.
THEY, WE ARE, ARE LOOKING AT, UM, THE MOCKINGBIRD CORRIDOR AND POTENTIALLY THINKING ABOUT EXPANDING OUR BOUNDARY TO CAPTURE THAT CORRIDOR.
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WE'RE WORKING THAT THROUGH INTERNALLY TO SEE IF THAT MAKES SENSE.UM, AND IF IT DOES, THEN THE FIRST STOP WOULD BE WITH THIS BOARD TO GET YOUR BLESSING ON THAT.
AND THEN IT WOULD MOVE ON THROUGH THE CHANNEL.
SO WE MIGHT BE TAKING A LOOK AT EXPANDING OUR BOUNDARY, UM, AND HELPING TO REDEVELOP SITES ALONG MOCKINGBIRD 'CAUSE WE BELIEVE THAT THEY'RE RIGHT FOR REDEVELOPMENT.
AND THEN, UM, THE NEXT BULLET IS JUST GENERALLY SPEAKING, CONTINUE TO PROMOTE DEVELOPMENT PROJECTS WITHIN THE TIF DISTRICT.
THE NEXT THREE PAGES ARE WHAT ARE REQUIRED BY THE STATE OF TEXAS FOR FINANCIALS, FOR ANY TIF DISTRICT.
THIS IS WHAT TKS TEAM SPEND HOURS AND HOURS AND HOURS AND WEEKS AND MONTHS DOING.
UM, AND, UH, I'VE COVERED EVERYTHING THAT'S IMPORTANT AND IN THE NARRATIVE BEFORE THAT, BUT TKS TEAM CAN ANSWER ANY QUESTIONS YOU HAVE SPECIFICALLY ABOUT THESE
AND THEN IF WE WANNA GO TO THE LAST PAGE, PAGE 15 THAT TALKS ABOUT OUR FINANCIAL OBLIGATIONS ESTIMATED PAYOFF.
THE ONLY OBLIGATION WE HAVE RIGHT NOW IS THE OAKLAWN, UM, PLACE DEVELOPMENT.
AND AS I SAID EARLIER, WE'RE ABOUT TO PAY THAT OFF.
SO WE WILL BE OBLIGATION FREE, BUT NOT FOR LONG.
I PREDICT, ESPECIALLY IF WE END UP, UM, REEVALUATING OUR, OUR DISTRICT BOUNDARIES, UH, AND THEN THE TIF, DISTRICT WIDE SETASIDE FUNDS.
UM, WE, OUR PLAN CALLS FOR A SET ASIDE, A 5% AFTER ADMINISTRATIVE EXPENSES, UM, TO BE SET ASIDE TO DO PUBLIC PROJECTS PRO, UM, PROJECTS THAT BENEFIT THE DISTRICT AS A WHOLE.
IT'S NOT NECESSARILY A PRIVATE DEVELOPER LED PROJECT LEVEL ONE PLACE.
AND IT CAN DO THE THINGS THAT I HAVE HIGHLIGHTED HERE.
OPEN SPACE, PUBLIC FACILITIES, UTILITY STREET STATE.
WE DO, UM, WE USE OUR, UH, OUR DISTRICT WIDE SET ASIDE AND ANOTHER DISTRICT TO DO, UH, IMPROVEMENTS ON, UH, SAFE ROUTES TO SCHOOL, TO MAKE WALKING PATHS SAFER TO THE SCHOOLS IN THAT PARTICULAR DISTRICT.
SO WE HAVE THAT AVAILABLE IN MAPLE MOCKINGBIRD AS WELL.
AND AT THIS POINT WE HAVE ABOUT 1.8 MILLION SET ASIDE FOR THAT USE.
AND THAT IS THE YEAR IN REVIEW.
I THINK WE'VE HAD A VERY SUCCESSFUL YEAR AND WE'RE OFF TO A GREAT START FOR THIS YEAR AND I'M HAPPY TO ANSWER ANY QUESTIONS THAT YOU HAVE ABOUT THAT REPORT OR IF YOU WANNA DISCUSS ANYTHING WITHIN IT.
WHAT IS THE NEXT BIG PROJECT? IS THERE A PROJECT LIKE THIS COMING UP? WE DO NOT HAVE A PROJECT APPROVED.
UM, UH, THE PROJECTS, ONCE WE RECEIVE AN APPLICATION AND WE CONFER AMONGST THE INTERNAL STAFF THAT IT'S WORTHWHILE, IT GOES TO UNDERWRITING AND THEN ONCE IT'S INTO UNDERWRITING, WE DO AN LOI AND THEN WE GO INTO THE BOARD.
WE HAVE NOTHING THAT HAS MADE IT THROUGH UNDERWRITING AT THIS POINT, BUT I ALWAYS, I MEAN, ANSWERING QUESTIONS FROM INTERESTED DEVELOPERS, WE DO HAVE ONE APPLICATION ON FILE AND IT'S STILL PENDING.
YES, THAT'S A GREAT WAY OF SAYING IT.
THANK YOU HOPPER AND PERCOLATING.
CAN WE GO BY THIS PLACE OURSELVES, LIKE JUST VISIT? OF COURSE.
IF YOU WANTED ME TO TO ARRANGE FOR TOUR THIS BY MYSELF, I'D BE HAPPY TO DO THAT.
BUT I'M, I'M GONNA, I'M GONNA MAKE EVERY EFFORT I CAN.
I THINK THAT THE PROBLEM WAS NOT DOING IT LAST YEAR WAS THAT THERE WAS SOME CONCERN ABOUT, UM, OPEN MEETING AND, AND MAKING IT ACCESSIBLE TO THE, THE CART PUBLIC.
AND, BUT, UM, BUT THAT'S NOT TO SAY THAT IT CAN'T BE DONE.
AND I'LL WORK ON THAT TO TRY TO MAKE THAT HAPPEN.
IT IT IS REALLY A VERY TOTALLY GROUND UP.
IT'S FIVE STORIES AND IT'S, IT'S VERY MODERN AND VERY COOL AND VERY EDGY AND JUST A NEAT, A NEAT PLACE.
IF I CAN ASK THAT, RICHARD, THE RESOURCE CENTER, REALLY THE NONPROFIT? YES.
THEY WERE, THEY WERE DELIGHTED TO WORK WITH REALLY, REALLY GOOD PEOPLE.
BOARD FORWARD A RECOMMENDATION OF APPROVAL TO COUNCIL AND MOTION.
CAVEAT IS SUBJECT TO CHANGE PRIOR TO COUNCIL APPROVAL.
WE NEED A SECOND ON THE MOTION FROM EITHER BETSY OR JV.
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ITEM ON THE AGENDA IS REVIEWED.CONSIDERATION OF REGULAR MEETING SCHEDULE FOR THE MAPLE BRIDGE BOARD OF DIRECTORS JURY.
THE 2025 CALENDAR YEARS, SORRY, WELDED
UM, I HAVE JUST ONE SLIDE FOR EVERYONE.
UH, I, I'M RECOMMENDING THAT WE STAY WITH THE SAME SCHEDULE THAT WE'VE HAD THIS PAST YEAR, ALTHOUGH WE DID NOT MEET.
AND THAT LAST BULLET IS IMPORTANT THAT WE ONLY MEET IF THERE'S ACTUAL BUSINESS TO DISCUSS.
I THINK THAT THIS SCHEDULE SEEMED TO WORK WELL FOR PEOPLE.
IF WE HAD A REASON TO CANCEL A MEETING AND WE NEEDED TO MEET IN BETWEEN, WE DO IT BY CALLING A SPECIAL MEETING AS WE DID WITH THIS ONE.
SO IF EVERYBODY'S OKAY WITH THIS, I'LL GO AHEAD AND SEND A, A CALENDAR INVITE OUT TO EVERYONE TO HOLD THESE PLACES AND THEN GO THROUGH THE SAME ROUTINE WE'VE GONE THROUGH BEFORE ABOUT, UH, SURVEYING FOR RESCHEDULING IF NECESSARY.
HOW ABOUT THAT? I KNOW, BUT THE SAME WAY LAST YEAR I THINK DO HAVE A MOTION MOVED? YEAH.
I SEE NO OTHER BUSINESS OTHER THAN NUMBER SEVEN, WHICH IS A JOURNEY MEETING IS AJOUR AT 3 33, I THINK IS CORRECT.
AND, AND THANK YOU TO LUIS FOR PINCHING FOR GREER, UH, STEPPING IN.
GREER HAD A LAST MINUTE CHANGE, SO THANK YOU VERY MUCH.