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SO WE'LL CALL THE,

[00:00:01]

UM, DESIGN DISTRICT TIP BOARD MEETING TO

[Dallas Design District TIF District Board of Directors Meeting on December 9, 2024.]

ORDER ON DECEMBER 9TH, 2024 AT 2:03 PM AND I'LL GO AHEAD AND TURN THE MEETING OVER TO OUR CHAIR.

WELCOME EVERYONE.

UM, FOR THE MEETING TODAY, WE WE'RE GONNA JUST GO THROUGH THE, UH, TO THE AGENDA, UH, PUBLIC COMMENTS PERTAINING TO, UH, AGENDA ITEMS THREE AND FIVE.

UH, WE'LL DO AFTER AT THE END, UH, HAS EVERYBODY HAD A CHANCE TO LOOK OVER THE MEETING MINUTES OR THE LAST MEETING? ANY CORRECTIONS OR QUESTIONS? DO I HAVE A MOTION TO APPROVE? TO APPROVE? SECOND.

I WILL SECOND.

OKAY.

ALL THOSE IN FAVOR? AYE.

AYE.

THAT IS APPROVED REVIEW AND CONSIDERATION OF THE DESIGN DISTRICT, TIFF DISTRICT ANNUAL REPORT FOR 2324.

AND, UH, SUE WILL TAKE A LOOK.

GREAT.

SO, UM, WE CAN, I'LL JUST KIND OF HIT THE HIGHLIGHTS A LITTLE BIT.

SO, UM, ILEANA, IF YOU COULD JUST, UM, JUMP TO PAGE FIVE.

SO, UM, THE REPORT, BECAUSE IT REFLECTS THE END OF THE FISCAL YEAR, WHICH WAS SEPTEMBER 30TH, UM, THAT'S SORT OF LIKE OUR END POINT.

SO IN TERMS OF LIKE THE TRINITY STRAND TRAIL HIGHLIGHT SPAN PROJECT THAT WE HAD OUR SPECIAL CALL MEETING ON, UM, A FEW WEEKS AGO, YOU KNOW, AS OF THE END OF THE FISCAL YEAR, WE WERE STILL REVIEWING THE PROJECT IN TERMS OF ITS CONSTRUCTION BIDDING PROCESS.

SO THE REPORT DOESN'T REFLECT WHERE WE ARE, LIKE AT THE MOMENT, JUST THAT WE WERE KIND OF HEADED IN THAT DIRECTION.

UM, YOU COULD SKIP TO PAGE SEVEN.

SO IN TERMS OF OUR PROJECT CHART, UM, YOU KNOW, THE IBI PHASE TWO IS, UM, STILL UNDER CONSTRUCTION.

THE ONLY THING THAT'S REALLY BEEN ADDED SINCE LAST YEAR, SO THERE'S AN OFFICE PROJECT, UM, AT THE CORNER OF TURTLE CREEK AND IRVING THAT QUADRANT IS DOING.

SO THAT'S BEEN ADDED TO THE CHART THAT'S JUST STARTED CONSTRUCTION MAYBE IN THE LAST FEW MONTHS.

SEE THAT? IT SAYS IT'S OFFICE ACCORDING TO THE SIGN.

IN FACT, I THINK WE'VE GOT IT AT, UH, YEAH, 135,000 SQUARE FEET OF OFFICE BASED ON THE INFORMATION WE CAN FIND ABOUT THE PROJECT.

OKAY.

I ACTUALLY THINK THAT'S A RESTAURANT.

OKAY.

WELL, WE'LL REVISIT IT.

YOU KNOW, WE CAN MAKE THE CHANGES.

YEAH.

YEAH.

AND THEN IF YOU COULD SKIP TO PAGE EIGHT.

SO IN TERMS OF LIKE MIXED INCOME HOUSING, SO, UM, AS MOST OF YOU'RE AWARE, WE HAVE THE, UM, THE CABANA, UM, ADAPT REUSE PROJECT THAT'S NOW UNDERWAY.

UM, AS THEY WERE FINISHING THEIR STRUCTURAL ENGINEERING, THEY HAD TO MAKE SOME MODIFICATIONS TO THE, UH, THE FLOOR LAYOUT.

SO THEY'RE ACTUALLY GETTING MORE UNITS.

IT WAS ORIGINALLY PLANNED TO BE 160, NOW IT'S 175 UNITS.

YOU CAN GO AHEAD AND, UH, SKIP TO PAGE 12.

SO AS, UM, MANY OF YOU'RE AWARE, THE, THE HIGHLINE CONNECTOR PROJECT, WHICH ACTUALLY STARTS IN VICTORY, COMES THROUGH THE DESIGN DISTRICT, WAS, UM, COMPLETED THIS YEAR.

SO THERE'S A PHOTO OF THAT AND THAT'S GOING TO, UM, DOVETAIL NICELY INTO, UM, THE TRINITY STRAND TRAIL, HIGHLINE SPAN PROJECT BECAUSE AT THE VERY END OF HIGH LINE, YOU KNOW, ONCE COMPLETED, YOU'LL BE ABLE TO TAKE A BRIDGE TO THE OTHER SIDE, GET ALL THE WAY OVER TO IRVING BOULEVARD.

SO EVERYTHING IS REALLY GONNA EVENTUALLY STITCH TOGETHER REAL NICELY.

WE CAN GO AHEAD AND SKIP TO, UM, PAGE 14.

AND THIS IS OUR, UM, VALUE SUMMARY FOR THE YEAR.

SO BASED ON THE 2024 CERTIFIED VALUE, UM, THE DISTRICT'S OVERALL VALUE WAS ABOUT 1.36 BILLION.

UM, AND THAT IS A, UM, 383% INCREASE OVER THE BASE YEAR.

UM, SO WE ARE AT, UM, IN TERMS OF NEW INVESTMENT, UM, WE'RE, WE'RE ABOVE OUR ORIGINAL GOAL AND THE, THE TIF PLAN OF, UM, GOAL, WE'VE EXCEEDED THAT.

UM, WE'VE ALSO EXCEEDED THE, UM, WE'RE AT ABOUT 83% OF OUR RESIDENTIAL GOAL, 21% OF OUR RETAIL GOAL.

AND WE'VE EXCEEDED OUR OFFICE, UH, GOAL FOR, UM, BASED ON THE, THE PLAN, UH, PAGE 15,

[00:05:01]

UH, WE CONTINUE TO MONITOR, MONITOR, UM, DART STATION, UM, RIDERSHIP NUMBERS FOR MARKET CENTER AND THERE HAS BEEN AN UPTICK, UM, IN THE LAST FISCAL YEAR.

THE RIDERSHIP NUMBERS, UM, THE DART SYSTEM OVERALL, UM, TOOK A HIT DURING THE PANDEMIC IN TERMS OF RIDERSHIP, BUT WE'VE STARTED TO SEE, YOU KNOW, RIDERSHIP NUMBERS RECOVER, AND THIS ONE IS I THINK ONE OF THE HEALTHIER, UH, RIDERSHIP INCREASES.

WE CAN GO AHEAD AND SKIP TO PAGE 17, AND THIS IS OUR YEAR END SUMMARY OF MEETINGS.

SO, UH, THE BOARD MET TWICE DURING THE FISCAL YEAR, AND THIS REPRESENTS, UM, THE ATTENDANCE RECORDS.

SO IF THERE'S ANY, UM, QUESTIONS OR DISCREPANCIES, JUST LET ME KNOW.

UM, IN TERMS OF THE, UM, COUNCIL APPROVED ITEMS FOR THE TIF DISTRICT, UM, IN THE LAST FISCAL YEAR, THIS FISCAL YEAR THAT JUST ENDED, WE HAD THE ANNUAL REPORT ITEM, WE CAN GO TO, UM, PAGE 18.

SO THIS IS OUR KIND OF RECALIBRATED, UM, TOTAL DOLLAR BUDGET, WHICH IS, YOU KNOW, BASED ON AN ESTIMATE OF TRYING TO GET TO, UM, A MAXIMUM BUDGET FOR THE DISTRICT IF WE WERE TO ACHIEVE, UM, DEVELOPMENT AND, YOU KNOW, REVENUE GROWTH.

SO THIS IS STILL, YOU KNOW, BIG CAPACITY BUT DOESN'T REPRESENT ACTUAL CASH AVAILABLE.

UH, WE CAN GO AHEAD AND SKIP TO, UH, PAGE 20.

SO IN TERMS OF A WORK PROGRAM FOR THE YEAR, SIMILAR TO PRIOR YEARS, WE'LL CONTINUE TO COORDINATE, UM, THE IMPLEMENTATION OF DEVELOPMENT PROJECTS, UM, CONTINUE TO WORK ON IMPLEMENTATION OF THE TRINITY STRAND TRAIL HIGHLINE, UH, SPAN PROJECT AND OTHER CONNECTIVITY IMPROVEMENTS.

UM, LOOK AT, UM, ADDITIONAL SOURCES OF FUNDING FOR THE TIP DISTRICT.

AND ALSO, UM, AS KIND OF MENTIONED LAST YEAR, NOW'S A GOOD TIME FOR US TO START THINKING ABOUT SOME STRATEGIC PLANNING, ASSUMING THAT THE TIP DISTRICT WILL, UM, SUNSET IN 2027.

AND WE CAN GO AHEAD AND SKIP TO PAGE 21.

THIS IS THE BEGINNING OF THE FINANCIAL STATEMENTS, WHICH IS THE ONE PART OF THE, UH, REPORT THAT'S REQUIRED BY STATE LAW AT THIS TIME.

WE DON'T HAVE OUR, UM, ADMINISTRATIVE COSTS FOR THE FISCAL YEAR, BUT THEY'RE NOT EXPECTED TO BE REALLY ANY DIFFERENT THAN PRIOR YEARS.

AND THAT WILL GET ADDED IN FOR, UM, THE REPORTS FINALIZED FOR CITY COUNCIL.

AND WHEN I DO HAVE OUR FINANCIAL STAFF AVAILABLE, UM, IF THERE'S ANY SPECIFIC QUESTIONS ABOUT THE FINANCIALS, WE GO AHEAD AND SKIP TO PAGE 26.

SO, UM, AGAIN, THIS IS JUST TO REFRESH YOUR MEMORY, THIS IS PART OF THE CONVERSATION WE HAD AT OUR NOVEMBER 20TH MEETING IS WHERE WE WERE WITH OUR DISTRICT-WIDE SET ASIDE.

UM, HERE WE KIND OF ALLUDE TO, UM, FUNDING AVAILABLE, NEEDING TO BE, UM, IN A SENSE SORT OF RESERVED FOR THE, THE TRAIL PROJECT.

AND SO WE, YOU KNOW, WE'VE KIND OF PUT A WRAP ON THAT AT OUR RECENT MEETING, BUT THIS JUST SORT OF REFLECTS KIND OF WHERE WE WERE HEADED WITH OUR DISTRICT WIDE FUNDING AND SORT OF ANTICIPATING THAT WE WOULD NEED THE FUNDING AVAILABLE FOR THE TRAIL PROJECT.

SO THAT'S KIND OF THE HIGHLIGHTS.

HAPPY TO ANSWER ANY QUESTIONS.

ANYBODY HAVE ANY, UM, COMMENTS OR QUESTIONS? THAT'S GREAT.

.

NICE JOB.

YEAH.

UH, GO AHEAD.

YEAH, JUST I WAS GONNA SAY SORRY FOR BEING A COUPLE MINUTES BEHIND, BUT NO NI NICE SUMMARY.

UH, NO, NO QUESTIONS ON MY END, BUT DIDN'T WANNA, UM, SHOW, UH, APPRECIATION FOR THE SUMMARY.

A MOTION TO, UH, WE JUST PUT IT IN TO APPROVE IT.

ANYBODY WANT, I'M HAPPY TO APPROVE.

YEP.

DO I HEAR A SECOND? SECOND, SECOND, LEWIS.

ALL THOSE IN FAVOR OF APPROVING THE, UH, 2324 DYE DISTRICT.

DISTRICT FOR ALL IN FAVOR? AYE.

OKAY.

UH, LET'S SEE HERE.

OKAY, SUE, UM, PUT OUT

[00:10:01]

A TENTATIVE SCHEDULE FOR, UH, 25 FOR SCHEDULE FOR MEETING.

Y'ALL SEE THAT ANYBODY HAVE ANY CONFLICT AT THIS POINT THEY WANNA BRING, BRING UP? YEAH, AND AGAIN, WE ALWAYS LIKE TO HAVE A PLACEHOLDER SCHEDULE.

THE CITY SECRETARY'S OFFICE LIKES US TO HAVE A REGULAR MEETING SCHEDULE, BUT WE'LL ONLY MEET AND WE'VE GOT BUSINESS.

AND THEN IF THERE'S ANY, UM, ANYTHING THAT COMES UP IN BETWEEN MEETINGS, WE'LL, UM, WE'LL CALL THE BOARD FOR A SPECIAL CALL MEETING.

ALL RIGHT.

DOES ANYBODY HAVE ANYTHING ELSE THEY WANNA DISCUSS? JUST WE A MOTION ON THE SCHEDULE.

OH, WE, OKAY.

UH, MOTION TO APPROVE THE QUARTERLY MEETING TENTATIVE SCHEDULE FOR 25.

MAKE THE MOTION.

SECOND, SECOND.

SECOND.

SECOND.

OKAY.

ALL THOSE, UH, IN FAVOR A, AYE, AYE.

YES.

THAT'S TERRIFIC.

OKAY.

SO, UM, APPRECIATE ALL OF YOUR, UM, INVOLVEMENT IN THE, IN THE GIF THIS YEAR, AND IF THERE'S ANY, UH, THING THAT ANYBODY WANTS TO BRING FORWARD AT THIS TIME, THIS WOULD BE A GOOD TIME.

WE CAN CHAIR A BIT, NOT LEARN.

THANKS EVERYONE.

THANK YOU.

THANK YOU.

MOTION TO ADJOURN.

SECOND.

ALL IN FAVOR? AYE.

AYE.

HAPPY HOLIDAYS AND HAPPY YEAR.

THANK YOU.

BYE-BYE.

THANK YOU.