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COULD I GET THE FIRST ITEM? CAN I GET A MOTION FOR THE MINUTES TO MOVE THE MINUTES ?
[Economic Development on June 2,2025.]
MOVE TO APPROVE. CAN I GET A SECOND? SOMEONE SECOND.OKAY. ALL IN FAVOR, SAY AYE. AYE. ANY OPPOSED? AYES CARRIED. TRYING TO RUN A MEETING HERE. I GOT 14 MORE DAYS, SO 14 MORE.
SO I'M RUNNING A QUICK MEETING. THE FIRST GOING TO BE A BRIEF AND PRESENTATION.
THE CITY OF DALLAS ECONOMIC DEVELOPMENT CORPORATION, LINDA MCMAHON.
SHE'S GOING TO INTRODUCE HER BOARD, HER STAFF, AND I THANK CHAIRMAN RIDLEY ASKED FOR THIS TERM.
REALLY? YOU KNOW, BEFORE WE CLOSE OUT. THANK YOU FOR ASKING THIS.
SO, LINDA, IT'S ALL YOURS. THANK YOU. OKAY. THANK YOU VERY MUCH I APPRECIATE IT.
THANK YOU, MAYOR PRO TEM ATKINS AND COUNCILMEMBERS.
YES, MY NAME IS LINDA MCMAHON, AND I'M CEO OF THE DALLAS ECONOMIC DEVELOPMENT CORPORATION.
OUR CHAIR ELECT, GILBERT GERST, IS GOING TO BE JOINING US WHEN HE GETS HERE.
I ALSO WANT TO THANK THE DALLAS ECONOMIC DEVELOPMENT CORPORATION BOARD MEMBERS WHO ARE IN ATTENDANCE, IF THEY WOULD RAISE THEIR HAND. OUR BOARD HAS BEEN EXTREMELY ENGAGED AND INVOLVED IN THE EDC SINCE THE INCEPTION OF INCEPTION, AND PROVIDED ME WITH GUIDANCE AND SUPPORT FOR OUR WORK, AND I REALLY APPRECIATE THEM.
THE MISSION OF THE EDC IS TO PROMOTE DALLAS AS A GLOBALLY COMPETITIVE BUSINESS DESTINATION THAT FOSTERS ECONOMIC OPPORTUNITIES FOR ALL, AND OUR BOARD OF DIRECTORS IS ON THE NEXT SLIDE.
YOU CAN READ THE NAMES. YOU ALL HAD SOME SOMETHING TO SAY ABOUT THOSE FOLKS THAT ARE JOINING US.
OUR BOARD OF DIRECTORS APPROVED OUR STRATEGIC PLAN IN DECEMBER AT OUR BOARD MEETING, AND THAT PLAN WAS REVIEWED BY CITY STAFF, INCLUDING MISS BENTLEY, MR. SPATH AND MISS LEPESKA.
THEY PROVIDED INPUT AND THAT WAS INCORPORATED INTO THE PLAN.
NEXT SLIDE. OUR MAJOR STRATEGIC GOALS ALIGN WITH THE INTERLOCAL AGREEMENT, WHICH AUTHORIZES US TO ENGAGE IN BUSINESS DEVELOPMENT WITH THE GOAL OF INCREASING THE TAX BASE WITHIN THE CITY OF DALLAS, AND TO GENERATE REVENUES AND RESOURCES FOR THE CITY THROUGH THE PROMOTION OF JOB AND BUSINESS GROWTH.
BASICALLY, WE HAVE THREE MAJOR GOALS ENGAGING THE WORLD TO INCREASE AWARENESS OF THE CITY AS A PLACE FOR BUSINESS TO INVEST AND THRIVE, ATTRACT AND GROW BUSINESS, JOBS AND INVESTMENT.
TO STRENGTHEN. TO STRENGTHEN OUR ROLE IN REGIONAL COMPETITIVENESS AND ACHIEVE INCLUSIVE ECONOMIC GROWTH AND REIGNITE AND REDEVELOP OUR ASSETS REAL ESTATE TO MAXIMIZE CITYWIDE ECONOMIC DEVELOPMENT SUCCESS. I'LL ADDRESS A LOT OF THESE IN MY COMMENTS ABOUT HOW WE'RE ADDRESSING THOSE THINGS, BUT YOU CAN I DON'T NEED TO READ ALL OF THESE DIFFERENT STRATEGIES UNDER THAT HOW WE'RE GOING TO BE SUCCESSFUL, WHICH IS THE NEXT SLIDE. OH, AND THE PRINCIPAL OBJECTIVES.
SORRY ABOUT THAT. THIS IS BASICALLY HELPS US IDENTIFY HOW WE'RE GOING TO ACCOMPLISH THE GOALS OF THE CITY RELATING TO INCLUSIVE GROWTH AND ECONOMIC DEVELOPMENT. THAT'S OUTLINED IN THE ECONOMIC DEVELOPMENT POLICY, WHICH WAS APPROVED BY COUNCIL, AND THESE PRINCIPAL OBJECTIVES ARE RELATED TO THAT POLICY.
AGAIN, I'VE BEEN INFORMED NOT TO READ SLIDES.
I THINK YOU CAN READ THOSE. I'M HAPPY TO EXPAND ON ANY OF THOSE THINGS, BUT I THINK GETTING INTO THE MEAT OF WHAT WE WANT TO TALK ABOUT IS HOW WE'RE GOING TO BE SUCCESSFUL. WE ARE GOING TO BE SUCCESSFUL IF WE HAVE A STRONG PARTNERSHIP AND COLLABORATION WITH THE CITY OF DALLAS AND THE OFFICE OF ECONOMIC DEVELOPMENT.
WE ALSO HAVE TO MAKE SURE THAT WE'RE UTILIZING ECONOMIC DEVELOPMENT, INDUSTRY BEST PRACTICES, AND WE HAVE TO BE FOUNDED AROUND REALLY ROOTED IN STRATEGY DATA.
THE EDC CANNOT BE SUCCESSFUL WITHOUT THESE PARTNERSHIPS AND THESE BEST PRACTICES, BUT THE CLEAR STRATEGY AND THE USE OF DATA TO BACK UP THAT STRATEGY IS WHAT WILL BE IMPORTANT. THAT'S WHAT WE WANT TO SHOW YOU TODAY AND HOW WE'RE APPROACHING MARKETING THE CITY.
WE WILL CONNECT BUSINESSES TO EACH OTHER, BUSINESSES TO OPPORTUNITIES, AND REAL ESTATE.
SO ADVANCED MANUFACTURING, LIFE SCIENCES AND BIOTECHNOLOGY, HEALTH CARE, PROFESSIONAL SERVICES AND CORPORATE OPERATIONS ARE REALLY HEADQUARTERS RELATING TO BUSINESSES THAT ARE MOVING HEADQUARTERS OR OTHER KIND OF OPERATIONS HERE.
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TRANSPORTATION AND LOGISTICS. ENERGY TECHNOLOGY, WHICH INCLUDES AI, SEMICONDUCTORS, IT DATA CENTERS, AVIATION, AEROSPACE AND SPORTS. THESE INDUSTRIES ARE ALREADY PREVALENT IN THE CITY, AND WE WILL BE LASER FOCUSED ON GROWING THESE INDUSTRY SEGMENTS AND SUPPORTING THE GROWTH OF CURRENT BUSINESSES IN THESE INDUSTRIES.THAT IS NOT TO SAY THAT OTHER BUSINESSES MAY REQUIRE ATTENTION, IT IS JUST THAT WE WILL.
WE WANT TO GROW FROM OUR STRENGTHS. THESE INDUSTRIES ALSO ALIGN WITH THE STATE OF TEXAS ECONOMIC DEVELOPMENT STRATEGIC PLAN, WHICH WAS RELEASED JUST LAST MONTH. NEXT SLIDE.
IT'S EXTREMELY STRONG IN OUR REGION, AND AS WE BEGIN TO APPROACH THAT INDUSTRY, WE'VE ENGAGED A FIRM THAT HAS BROAD EXPERIENCE IN ECONOMIC DEVELOPMENT STRATEGIES WITHIN THE TECHNOLOGY INDUSTRY. THE STUDY THAT WE'VE LAUNCHED WILL HAVE FOUR TASKS WHICH WILL PROVIDE US WITH A ROADMAP INTO OUR STRENGTHS AND THE COMPANIES THAT ARE ALREADY HERE, AND THE COMPANIES THAT WILL BENEFIT FROM BEING HERE AND THEN MORE SPECIFICALLY, WHICH COMPANIES AND WHERE THEY'RE LOCATED.
WE'RE GOING TO LOOK AT THE REGIONAL STAKEHOLDER ANALYSIS, ALSO DONE SIMULTANEOUSLY IN SEPTEMBER.
THE COMPETITIVE ANALYSIS IN THE DALLAS INNOVATION ECOSYSTEM WILL BE DONE IN NOVEMBER, AND THEN THE TARGET MARKET ANALYSIS WILL BE COMPLETED BY THE END OF THE YEAR, AND THAT IS REALLY SPECIFICALLY IDENTIFYING COMPANIES AND LOCATIONS AROUND THE COUNTRY AND POTENTIALLY INTERNATIONALLY THAT WE CAN GO AFTER SPECIFICALLY AND TRY TO RECRUIT THEM TO DALLAS. THAT'S VERY, VERY IMPORTANT, AND IT WAS RECENTLY REPORTED IN THE WALL STREET JOURNAL.
AUSTIN IS NO LONGER THE LOCATION OF CHOICE FOR TECHNOLOGY COMPANIES OF MANY TYPES.
I THINK MANY OF YOU HAVE SEEN THAT ARTICLE, SO WE HAVE A GREAT OPPORTUNITY TO CAPITALIZE RIGHT NOW.
THE REPORT STATED THAT WORKERS ARE STILL MOVING TO THE SUNBELT, BUT THEY'RE LEAVING AUSTIN AND COMING TO DALLAS, AND SO WE WANT TO MAKE SURE THAT WE'RE POISED AND READY TO BE ABLE TO ADDRESS THAT MARKET, AND WE'LL ADDRESS THIS INDUSTRY WITH DATA AND A PLAN AS GOING TO BE OUTLINED IN THIS SPECIFIC STRATEGY.
NEXT SLIDE. BUSINESS RETENTION IS REALLY ONE OF THE MOST IMPORTANT THINGS WE CAN DO AS A CITY.
80% OF NEW JOBS AND CAPITAL INVESTMENT COMES FROM COMPANIES THAT ALREADY EXIST.
SO WE ARE REALLY FOCUSED ON THAT. WE CANNOT AFFORD TO HAVE ANY COMPANY LEAVE THE CITY.
WHILE WE'RE SEEING EXPLOSIVE GROWTH IN THE FINANCIAL SERVICES INDUSTRY WITH GOLDMAN SACHS NEW CAMPUS, THE TEXAS STOCK EXCHANGE LEADING THE WAY, NASDAQ AND NEW YORK AND THE NEW YORK STOCK EXCHANGE.
THEY'LL CREATE ENORMOUS OPPORTUNITIES, BUT BY FOCUSING ON OUR CURRENT COMPANIES WHO HAVE BEEN FORMED HERE, GROWN HERE OR MOVED HERE IS CRITICALLY IMPORTANT TO THAT POINT.
CITY MANAGER TOLBERT AND I HAVE BEEN VISITING WITH THE TOP TEN CORPORATE TAXPAYERS IN THE CITY, AND WE'VE HAD MEETINGS WITH EXISTING, AND I'VE ALSO ALREADY HAD MEETINGS WITH EXISTING BUSINESSES THAT DON'T NECESSARILY QUALIFY IN THOSE TOP TEN OF EVERY SIZE, BUT SO FAR, WE HAVE MET WITH TEXAS INSTRUMENTS AND COMERICA SPECIFICALLY, MAKING SURE THAT WE WANT TO KEEP COMERICA IN DOWNTOWN DALLAS AND AT&T.
THAT WAS. CITY MANAGER. TOLBERT MET WITH AT&T AS PART OF THIS INITIATIVE RELATIVE TO DOWNTOWN DALLAS, BUT TEXAS INSTRUMENTS IS REALLY CRITICAL COMPANY IN OUR INFRASTRUCTURE, IN OUR ECOSYSTEM AND MAKING SURE THAT THEY HAVE A VOICE AND THEY KNOW WHO TO CALL AT CITY HALL, AND CANDIDLY, THEIR DIRECTOR OF GOVERNMENT RELATIONS TOLD ME SEVERAL MONTHS AGO THEY KNOW THE CITY MANAGER IN EVERY CITY EXCEPT FOR THE CITY OF DALLAS.
THEY SAID THEY HAD NO CONNECTION WITH ANYONE AT THE CITY OF DALLAS.
I'M THE POINT PERSON. I'M THE CITY MANAGER, I'M THE BOSS, BUT HERE ARE THE WAYS YOU CAN CONTINUOUSLY CONNECT WITH THE CITY, AND HERE'S YOUR ADVOCATE, AND SO THE EDC HAS BEEN INTRODUCED IN THESE MEETINGS AS THE ADVOCATE FOR THESE COMPANIES THAT ARE ALREADY HERE, AND THIS IS REALLY VERY, VERY IMPORTANT. SO WE WILL BE CONTINUING THESE MEETINGS EVERY SINGLE MONTH THROUGH THE FALL WITH ALL THE COMPANIES THAT WE'VE IDENTIFIED AS THE TOP TEN, AND AGAIN, WE'LL BE WORKING WITH ALL OF THESE OTHER COMPANIES THAT ARE ALSO BASED HERE.
WE HAD A MAJOR SAVINGS. WE ANTICIPATED THAT WAS GOING TO COST US A COUPLE HUNDRED THOUSAND DOLLARS, AND MY CHIEF ADMINISTRATION OFFICER WAS ABLE TO WAVE HIS MAGIC WAND.
AS A NONPROFIT, WE'RE ABLE TO GET IT FOR ZERO.
WE'VE NOT HAD TO DO THAT. SO WE BUILT A DATABASE.
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AND WE INTEND TO USE THAT TO LAUNCH OUR BUSINESS RETENTION SURVEYS IN THE NEAR FUTURE AND UNDERSTAND WHAT STEPS THAT WILL HELP US UNDERSTAND WHAT STEPS NEED TO BE TAKEN TO RETAIN OUR EXISTING BUSINESSES, AND ALSO WHAT WE NEED TO DO IN ORDER TO ASSIST IN THEIR GROWTH AND THEIR SUCCESS.THAT MEANS THAT WE IDENTIFY WHAT COMPANIES COULD BENEFIT FROM LOCATION AND ACCESS.
IT'S ALL THE BUSINESSES THAT WILL SUPPORT THAT BUSINESS THAT ARE REALLY OPPORTUNITIES FOR US.
SO AND THEN THE OTHER NEXUS PART OF NEXUS OF OPPORTUNITY IS WORKFORCE AND WORKFORCE DEVELOPMENT.
SO MATCHING OUR WORKFORCE PIPELINE THAT WE HAVE CURRENTLY WORKFORCE DEVELOPMENT NEEDS THAT WE HAVE FOR THE FUTURE TO MEET THE NEEDS OF THESE CORPORATIONS AND THESE BUSINESSES IS REALLY, REALLY IMPORTANT. SO LOCATION AND ACCESS.
ALSO EXISTING INDUSTRY AND BUSINESS, AND THEN THE WORKFORCE PIPELINE IS VERY IMPORTANT, AND THEN OUR QUALITY OF LIFE HERE IS SUPERIOR, AND WE JUST NEED TO BE BETTER AT TELLING THE STORY OF THE CITY OF DALLAS.
WE WILL BUILD A SCORECARD THAT WILL THAT WE WILL BE IMPLEMENTING WITH THE HELP OF OUR NEW DATA ANALYSTS, WHO WILL BE STARTING IN MID-JUNE. I'M VERY EXCITED ABOUT THIS.
HE WILL HELP US HONE IN ON WHERE COMPANIES ARE LOCATED, AND THAT WILL BE PART OF THE NEXUS THAT WE IDENTIFY BOTH DOMESTIC AND INTERNATIONAL COMPANIES. SO DATA IS VERY, VERY IMPORTANT, AND THAT DATA WILL BE PROVIDED TO PROSPECTS, SITE SELECTORS AND BROKERS, AND I KNOW MANY OF YOU HAVE SEEN THIS MAGAZINE THAT'S PRODUCED BY THE DALLAS REGIONAL CHAMBER, THEIR BUSINESS DEVELOPMENT, REGIONAL BUSINESS DEVELOPMENT INFORMATION.
WE INTEND ON TAKING THIS AND MAKING IT FOR THE CITY OF DALLAS.
SO HOPEFULLY WITHIN THE NEXT I DON'T KNOW, I DON'T WANT TO COMMIT TO A TIMELINE BECAUSE THE DATA PART IS GOING TO BE CRITICAL, BUT THEN PRODUCING AND ACTUALLY, I'VE ALREADY BEEN IN CONTACT WITH THE PRODUCER OF THIS MAGAZINE TO TALK ABOUT HOW WE CAN ACTUALLY PRODUCE OUR OWN CITY OF DALLAS MAGAZINE THAT WILL HAVE ALL THE LABOR AND INFORMATION AROUND INDUSTRIES THAT WILL BE SPECIFIC TO THE CITY OF DALLAS, AND WE CAN USE THAT AS OUR SALES TOOL WHEN WE'RE TALKING TO COMPANIES.
THEY'RE CALLING THEIR FRIENDS WHO ARE CEOS OR LEADERS OF OTHER COMPANIES THAT ARE RELOCATING HERE, AND I'VE HEARD THAT FROM CEOS THAT HAVE BEEN THAT HAVE BEEN HERE, AND THEY'RE GETTING CALLS ALL THE TIME.
WE NEED TO USE THEM AS OUR AMBASSADORS, AND SO WE REALLY FOCUSED ON BUILDING OUT THOSE BUSINESS AMBASSADORS, THOSE COMPANIES THAT ARE ALREADY HERE, AND THE REALITY IS THE MAJORITY OF REFERRALS THAT WE'RE GOING TO GET FOR RELOCATIONS OR EXPANSIONS FROM OTHER PARTS OF THE COUNTRY OR OTHER PARTS OF THE WORLD, THEY'RE GOING TO COME FROM OUR OWN BUSINESS COMMUNITY, AND SO WE NEED TO MAKE SURE THAT WE'RE VERY THOUGHTFUL IN HOW WE ACCESS THOSE BUSINESS AMBASSADORS AND REALLY ORGANIZE THEM IN A WAY, AND THAT IS PART OF THE STRATEGY THAT WE HAVE IN TERMS OF OUR INVESTOR RELATIONS ROLE.
NEXT SLIDE. THIS JUST GIVES YOU A SNAPSHOT OF JUST WHAT I, WHAT I.
A NUMBER OF THIS IS BACKED UP BY A LIST. SO IF YOU WANT A LIST OF THE COMPANIES AND THE PEOPLE THAT I'VE MET WITH, THIS IS WHAT I'VE DONE. WHAT I DID IN APRIL AND MAY AND I'VE BEEN TRACKING THIS INFORMATION SINCE AUGUST 1ST.
I STARTED JULY 1ST, AND I'VE BEEN TRACKING EVERY SINGLE MEETING, EXACTLY WHO WE'RE MEETING WITH, WHY WE'RE MEETING WITH THEM, AND THE PURPOSE OF THOSE MEETINGS. SO IN TWO MONTHS, WE MADE SIX PRESENTATIONS.
16 OF THOSE 16 OF THE MEETINGS WERE GENERAL IN NATURE, JUST TALKING ABOUT THE EDC.
16 OF THOSE WERE BUSINESS DEVELOPMENT RELATED, SEVEN WERE BUSINESS RETENTION.
SO THAT'S JUST IN TWO MONTHS SPECIFIC MEETINGS.
NOW, THAT'S NOT EVERYTHING ON MY CALENDAR, AS PEOPLE WILL TELL YOU, BUT BUT IT IS A LOT OF THE TIME THAT I'VE SPENT AND WHAT I'VE BEEN DOING SINCE AUGUST 1ST IS REALLY MEETING WITH COMPANIES. SO THIS IS JUST A SNAPSHOT, AND WE ACTUALLY PUT THIS INFORMATION IN OUR DATABASE.
SO WE CAN TRACK ALL OF THESE ENGAGEMENTS AND MAKING SURE THAT WE'RE FOLLOWING UP WITH THEM.
BECAUSE THE FOLLOW UP IS THE REAL KEY PART. IF YOU JUST CALL THEM ONCE AND TALK TO THEM ONCE AND YOU DON'T FOLLOW UP, THEY'RE NOT GOING TO CARE, AND SO WE REALLY NEED TO MAKE SURE THAT WE'RE DOING THAT.
SO I'VE BEEN ASSISTING AND TALKING TO STAFF ON SEVERAL DIFFERENT REAL ESTATE OPPORTUNITIES,
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AS WELL AS AS WELL AS CHALLENGES. THE STEMMONS BUILDING WAS OUR FIRST ENGAGEMENT, AND WE HAVE A COUPLE OF PROPOSALS IN FRONT OF CITY STAFF FOR THEIR CONSIDERATION AND THEN REFERRAL TO THE COUNCIL FOR ACTION RELATIVE TO SOME OF THE PROPERTIES WE'VE BEEN TALKING ABOUT WITHIN THE CITY.BEYOND THE BASIC DATA FOR THE CITY, WE ARE ALSO GOING TO BE CREATING THIS DATA ANALYST AGAIN IS VERY CRITICAL, A DATABASE OF ALL AVAILABLE PROPERTIES WITHIN THE CITY DETAILING THE RELEVANT INFORMATION THAT WILL HELP IN AND PROMOTING SPECIFIC SITES.
NOT EVERYTHING IS IN COSTAR, AND I'VE LEARNED, I MADE A PRESENTATION AT A REAL ESTATE BROKERAGE FIRM LAST MONTH, AND ONE OF THE BROKERS AFTER THE MEETING SAID, I HAVE A CLIENT WHO HAS 160 ACRES IN SOUTHERN DALLAS, AND HE'S LOOKING FOR DEVELOPMENT THAT IS NOT IN COSTAR.
SO REALLY ENGAGING WITH REAL ESTATE BROKERS DIRECTLY IS REALLY IMPORTANT, AND GETTING THEM TO PROVIDE US WITH INFORMATION SO THAT WE CAN BUILD OUT A ROBUST REAL ESTATE PIPELINE REAL ESTATE DATABASE INFORMATION, SO THAT WE CAN BE THE ULTIMATE RESOURCE FOR COMPANIES LOOKING TO EXPAND OR RELOCATE.
IF ANY OF YOU HAVE LOOKED AT WHAT DOWNTOWN DALLAS, INC.
DOES, THEY HAVE INFORMATION ON EVERY SINGLE BUILDING IN DOWNTOWN DALLAS.
THEY KNOW EXACTLY WHO WHO THE LANDLORD IS, WHAT THE OCCUPANCY LEVEL IS, WHAT THE RENT LEVELS ARE.
WE'RE GOING TO RELY ON THEM FOR DOWNTOWN DALLAS, BUT WE'RE GOING TO BUILD OUT A DATABASE THAT HAS THAT SAME LEVEL OF INFORMATION AND DETAIL THAT WILL BE A RESOURCE NOT ONLY FOR THE CITY OF DALLAS, BUT ALSO FOR ANYONE WHO WANTS TO KNOW WHAT'S AVAILABLE IN THE REAL ESTATE SPACE.
NEXT SLIDE. INTERNATIONAL STRATEGY IS ALSO VERY IMPORTANT, AND SO WE PLAN ON WORKING ON A STRATEGY.
WE HAVE DEVELOPED A DRAFT THAT WE CONSIDER A ROADMAP, AND THAT PLAN IS CURRENTLY UNDER REVIEW BY MISS BENTLEY AND THE OFFICE OF ECONOMIC DEVELOPMENT. THAT POSITIONS US AS A GLOBAL BUSINESS HUB BY LEVERAGING ECONOMIC STRENGTHS, INTERNATIONAL CONNECTIONS AND DIVERSE WORKFORCE AND WE'RE PLANNING ON COLLABORATING WITH LOCAL, STATE AND INTERNATIONAL PARTNERS BECAUSE WE ARE POISED FOR GROWTH, AND I CAN TELL YOU THE THING THAT SURPRISED ME MOST ABOUT THIS ROLE WAS HOW MUCH INTERNATIONAL INTEREST THERE IS IN THE CITY OF DALLAS.
SO I'M VERY EXCITED ABOUT THIS OPPORTUNITY. NEXT SLIDE, AND WE'RE GOING TO USE THE SAME PROCESS OF EVALUATING OPPORTUNITIES AGAIN AROUND THIS NEXUS. SO WE'RE GOING TO WE'RE GOING TO BE MAPPING GEOGRAPHY AND INDUSTRIES, IDENTIFYING WHICH COUNTRIES ARE MOST APPROPRIATE IN TERMS OF THE TYPES OF INDUSTRIES WE'RE SEEKING TO ADAPT.
WE HAVE THE EASE OF DOING BUSINESS, AND FRANKLY, EVERYONE'S SHOCKED AT HOW EASY IT IS TO GET AROUND THE CITY OF DALLAS, AND I ALSO HAD SOMEONE FROM FINLAND TELL ME THEY THOUGHT WE WERE A VERY CLEAN CITY.
THEY WERE SURPRISED BY THAT. SO THAT WAS VERY EXCITING THAT WAS THEIR IMPRESSION.
WE HAVE A LOT OF EXISTING OFFICIAL RELATIONSHIPS.
WE HAVE A LOT OF HIGHER HIGHER EDUCATION PARTNERSHIPS AND ASSETS AND FOREIGN TRADE ZONES.
SO WE NEED TO FOLLOW THOSE ASSETS THAT WE HAVE AND BUILD UPON THAT, AND WE ALSO RECOGNIZE THAT SPORTS TOURISM, LIKE VISIT DALLAS, WHICH I SPEND A LOT OF TIME TALKING TO CRAIG DAVIS AT VISIT DALLAS AND THE CULTURAL AMENITIES THAT WE HAVE ARE CRITICAL TO OUR SUCCESS.
WHEN THE WORLD CUP COMES TO DALLAS, WE WILL NEED TO BE PREPARED TO TELL THE BUSINESS STORY OF THE CITY OF DALLAS, AND THAT IS WHAT WE'RE PREPARING FOR. NEXT SLIDE.
SO HOW DO WE DIFFERENTIATE BETWEEN WHAT THE CITY OF DALLAS DOES VERSUS WHAT THE ECONOMIC DEVELOPMENT DOES? ECONOMIC DEVELOPMENT CORPORATION DOES. THE MAYOR'S OFFICE OBVIOUSLY IS VERY, VERY INVOLVED IN INTERNATIONAL ACTIVITIES, DIPLOMATIC ACTIVITIES AND ENGAGING AREA RESIDENTS WILL BE INVOLVED IN MARKETING AND BUSINESS ENGAGEMENT.
THE STRATEGY ASSOCIATED WITH THAT ENGAGING STAKEHOLDERS ON INTERNATIONAL OPPORTUNITIES, INTERNATIONAL COMPANIES AND OFFICIALS ON THE ASSETS OF THE CITY OF DALLAS, AND THAT IT WILL INCLUDE MARKETING TRIPS IN THE FUTURE, AND WE'VE BUDGETED FOR THAT IN TERMS OF OUR FUTURE BUDGET.
TO THAT END, AGAIN, WE'RE APPROACHING THIS WITH STRATEGY.
SOME OF YOU MAY KNOW, I WAS VERY INVOLVED WHEN MAYOR RAWLINGS WAS THE MAYOR IN CREATING IMPACT DALLAS CAPITAL, WHICH WAS A NONPROFIT ECONOMIC DEVELOPMENT ORGANIZATION THAT ACTUALLY CREATED THE GROWTH FUND, AND WE RAISED OVER $30 MILLION FROM LOCAL INVESTORS AND THAT WAS DEPLOYED INTO A VARIETY OF DIFFERENT PROJECTS IN SOUTHERN DALLAS.
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NOT THE INCOME, THE FEE INCOME THAT THEY RECEIVE FOR MANAGING THE FUND WITH IMPACT DALLAS CAPITAL, AND THAT FEE INCOME SPLIT ACTUALLY WENT TO SEVERAL DIFFERENT NONPROFIT ORGANIZATIONS.WELL, THERE'S 100, I THINK $160,000 LEFT. MAYBE IT'S 180.
THE IMPACT DALLAS CAPITAL REMAINING BOARD HAS AGREED TO DEDICATE THE REMAINING FUNDS TO DO A STUDY ON SOUTHERN DALLAS, AND THAT IS NOT ONLY LOOKING AT WHAT WAS THE SUCCESSES OUT OF THE GROWSOUTH FUND, BUT WHAT'S OUR OPPORTUNITIES IN THE FUTURE, AND THAT FINAL REPORT WILL BE DONE BY HR&A. I'M IN THE PROCESS OF FINALIZING THE SCOPE OF WORK NOW, AND THAT WILL EVALUATE THE SUCCESSES AND CHALLENGES OF THE FUND, BUT ALSO WILL ANALYZE NEW OPPORTUNITIES FOR PAST AND FUTURE INVESTORS AND TO CONTINUE THE GROWTH AND SUPPORT OF THE DEVELOPMENT OF SOUTHERN DALLAS.
I THINK THIS IS REALLY GOING TO BE VERY IMPORTANT FOR US TO UNDERSTAND WHAT INVESTORS WERE INTERESTED IN BEFORE AND HOW WE CAN KEEP THEM INTERESTED AND WHAT KIND OF PROJECTS THEY'RE INTERESTED IN DOING, AND THIS WILL BE ALSO ANALYZING REAL ESTATE OPPORTUNITIES.
SO I LOOK FORWARD TO THAT BEING DONE, AND THEY SENT ME THE NOTE BEFORE THIS MORNING'S MEETING THAT THEY WILL BE PROBABLY HAVING THAT PROJECT DONE THE FULL REPORT DONE WITHIN EIGHT MONTHS. SO I'M LOOKING FORWARD TO THAT AS WELL.
THE NEXT SLIDE PLEASE. SO WHAT ELSE HAVE WE DONE? WE LAUNCHED OUR BRAND WHICH I LOVE. I'M IN LOVE WITH THE PEGASUS.
IF ANYBODY KNOWS ME PERSONALLY, THEY KNOW I LOVE THE PEGASUS.
WE LAUNCHED OUR BRAND IN 2024. WE LAUNCHED OUR WEBSITE IN 2024 AND THAT HAS BEEN EXTREMELY HELPFUL.
SO WE ALSO HAVE A VERY NEXT SLIDE ROBUST ACTIVITY ON LINKEDIN.
SO WE HAVE A FIRM THAT IS HELPING US WITH SOCIAL MEDIA AND EARNED MEDIA.
WELL, WE WOULD LOVE TO BE ABLE TO SPEND A LOT OF MONEY ON ADVERTISING.
ADVERTISING IS EXPENSIVE, AND SO WE HAVE REALLY FOCUSED ON WHAT'S CONSIDERED TO BE PUBLIC RELATIONS OR EARNED MEDIA, AND REALLY AMPLIFYING WHAT WE'RE DOING AS AN ECONOMIC DEVELOPMENT CORPORATION, AND WE DID POST WE DID HAVE THIS ONE AD, WHICH AGAIN, WAS VERY EXPENSIVE THAT WE DID IN SITE SELECTORS MAGAZINE LAST SEPTEMBER, PROCLAIMING US THE NEW CAPITAL OF CAPITAL, AND BUT I'VE HEARD FROM SITE SELECTORS, THEY DON'T REALLY READ THESE MAGAZINES THAT MUCH.
SO MY FOCUS ON REALLY AMPLIFYING THE CITY THROUGH SOCIAL MEDIA AND PUBLIC RELATIONS AND EARNED MEDIA IS REALLY GOING TO BE THE WAY WE'RE GOING TO BE GOING UNTIL WE HAVE THE FUNDING THAT WE CAN ACTUALLY DO A BIGGER ADVERTISING CAMPAIGN.
NEXT SLIDE PLEASE. SO FUNDRAISING, HOW ARE WE GOING TO SUPPORT OURSELVES? VERY CRITICAL. I KNOW MAYOR PRO TEM HAS ASKED ME THAT MANY TIMES.
WE DID, AS PART OF OUR ARRANGEMENT WITH TIP STRATEGIES, ENGAGED AN ORGANIZATION CALLED POWER TEN.
THEY'RE A FUNDRAISING STRATEGY COMPANY. THEY DID A FEASIBILITY STUDY FOR US LATE LAST YEAR.
WE HAD INTERVIEWED 18 COMMUNITY AND BUSINESS LEADERS THAT VALIDATED THAT WE COULD DO A CAPITAL CAMPAIGN, WHICH IS NOT UNUSUAL FOR ECONOMIC DEVELOPMENT CORPORATIONS AROUND THE COUNTRY.
THEY FELT WE COULD RAISE $5 MILLION A YEAR OVER THE NEXT THREE YEARS TO SEED FUND THE ORGANIZATION TO SUSTAIN IT WHILE WE HAVE THE OPPORTUNITY TO BUILD THE REVENUE ASSOCIATED WITH THE ORGANIZATION, AND WE DO HAVE A SOFT COMMITMENT.
WE WILL BE CREATING WHAT I CALL INVESTORS, AND SO THOSE INVESTORS WILL HAVE LIMITED PROGRAMING, MOSTLY RELATING TO ECONOMIC DEVELOPMENT AND ECONOMIC STRATEGY AND OPPORTUNITIES TO PARTICIPATE IN BUSINESS BUSINESS TRIPS IN THE FUTURE, AND THOSE INVESTOR LEVELS WILL BE STARTING AT $100,000.
WE HAVE A SEARCH STARTED FOR AN INVESTOR RELATIONS PERSON WHO WILL NOT ONLY BE HELPING US FUNDRAISE, THEY WILL ALSO BE MANAGING WHAT I CALL INDUSTRY CLUSTER COUNCILS.
SO AROUND THOSE INDUSTRY CLUSTERS THAT WE'RE FOCUSED ON.
THAT MEANS THAT WHEN WE'RE TALKING TO SOMEONE IN THE HEALTHCARE INDUSTRY, WE'RE GOING TO HAVE A CLUSTER COUNCIL, PROBABLY A BETTER NAME FOR IT THAN THAT. SORRY.
THEY'LL HELP US IDENTIFY COMPANIES THAT WE THINK WE SHOULD BE GOING AFTER RECRUITMENT, AND THEY MAY ALSO BE HELPING US IDENTIFY WHICH COMPANIES HERE NEED A LITTLE HELP IN TERMS OF ASSISTANCE TO BE ABLE TO EXPAND GROW. SO THOSE COUNCILS ARE REALLY CRITICAL NOT ONLY TO OUR FUNDRAISING STRATEGY, BUT REALLY CRITICAL TO OUR BUSINESS RETENTION AND BUSINESS DEVELOPMENT STRATEGY, AND THIS INVESTOR RELATIONS POSITION WILL BE RESPONSIBLE FOR FORMING THOSE.
WE'RE ALREADY COLLECTING NAMES AND WITH THE COMPANIES THAT WE'VE BEEN MEETING WITH, BUT INFORMING US IN TERMS OF WHO CAN PARTICIPATE, WHO WILL BE WILLING TO PARTICIPATE, AND AGAIN, AROUND EVERY SINGLE INDUSTRY CLUSTER.
I WILL ALSO TELL YOU THAT SOME OF THIS IS IDEAS I'VE STOLEN FROM DALLAS COLLEGE.
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THEY HAVE ALREADY STARTED THIS, AND SO THEY'RE FOCUSED ON THE WORKFORCE PART, WHICH IS VERY, VERY CRITICAL, BUT PARTNERING WITH DALLAS COLLEGE AND FORMING THESE COUNCILS WILL BE ALSO VERY, VERY IMPORTANT TO OUR FUTURE SUCCESS. SO WE HOPE TO LAUNCH THIS LAUNCH OUR FUNDRAISING CAMPAIGN IN THE FALL ONCE WE HAVE THE NEW INVESTOR RELATIONS PERSON ON BOARD. SO WHAT DID WE HEAR? THERE WERE SEVERAL QUESTIONS THAT WE HEARD THAT WE POSED IN THE FUNDRAISING FEASIBILITY ANALYSIS, AND SO ONE OF THE ONE OF THE QUESTIONS WAS, WHAT PRIORITY SHOULD THE DALLAS EDC GIVE TO EACH OF THESE INITIATIVES AROUND THE GOAL OF ENGAGING THE WORLD IN MARKETING, TO INCREASE AWARENESS OF THE CITY GOAL, TO ATTRACT AND GROW BUSINESSES AND JOBS AND INVESTMENT, AND THEN THREE REIGNITE AND REDEVELOP OUR REAL ESTATE.THERE WERE SEVERAL REAL ESTATE PEOPLE HERE, BUT THE NUMBER TWO GOAL IS WHAT THEY SAID WE SHOULD FOCUS ON, AND SO LEADING ON BUSINESS DEVELOPMENT, BEING THE LEADER IN BUSINESS DEVELOPMENT IS CRITICAL FOR THE GROWTH OF THE EDC AND SUCCESS OF THE CITY AND ECONOMIC DEVELOPMENT.
NEXT SLIDE. WE ALSO UNDERSTAND THAT IF WE DON'T, WE AREN'T ABLE TO MEASURE OUR SUCCESS.
PEOPLE WILL NOT BE TRUSTING US WITH MONEY. SO WE HAVE I HAVE A PROPOSAL FROM A UNIVERSITY PARTNER TO DO AN ECONOMIC IMPACT STUDY. I HOPE TO FINALIZE THAT. THAT STUDY WILL BE KICKED OFF AT THE END OF THE SUMMER, AND THAT WILL HELP US NOT ONLY IDENTIFY WHAT WE SHOULD BE TRACKING AND MEASURING OURSELVES AGAINST, WHAT ARE THE METRICS, BUT ALSO GIVE US THE BASELINE.
HERE'S WHERE WITH THE CITY OF DALLAS IS TODAY, AND HERE'S WHAT WE NEED TO DO TO BE ABLE TO GROW.
SO FOR EVERY EMPLOYEE THAT YOU HIRE IN ANY JOB, IF THEY ARE MAKING A LIVING WAGE OR MORE HOPEFULLY MORE, THEY GO OUT AND SPEND MONEY AND SO IT'S NOT JUST HOW MUCH MONEY THEY'RE MAKING, IT'S HOW MUCH MONEY THEIR FAMILY WEALTH IS GROWING AND HOW MUCH MONEY THEY'RE SPENDING OUT IN THE ECONOMY. SO BEING ABLE TO GET THE BASELINE DATA OF WHERE WE ARE AS A CITY IN A CONCISE MANNER, AND THEN BEING ABLE TO TRACK OUR METRICS ON AN ANNUAL BASIS THROUGH A REPEAT OF THAT IMPACT IS REALLY, REALLY IMPORTANT. OTHER CITIES ARE PRODUCING THESE REPORTS, AND WE WANT TO BE AS TRANSPARENT AS THEY ARE.
OF COURSE, THIS THIS IS IMPACT TO THE CITY. SO IT'S NOT JUST WHAT THE EDC DOES, IT'S WHAT THE ENTIRE CITY WILL DO, AND THAT WILL BE IMPORTANT IN TERMS OF OFFICE OF ECONOMIC DEVELOPMENT AS WELL AS EDC.
NEXT SLIDE. SO WHERE ARE WE WITH MONEY. HERE'S WHERE WE STAND AS OF APRIL 30TH.
YOU GAVE US $7 MILLION. OUR EXPENSES PRIOR TO JULY 1ST WAS 812,000 ROUGHLY.
WE RECEIVED A DISBURSEMENT ON OCTOBER 1ST OF 3.5 MILLION, AND THEN WE HAVE REMAINING OF THAT SEVEN, $2.6 MILLION. NEXT SLIDE, AND THEN THIS IS WHERE WE STOOD AT THE END OF FISCAL YEAR 2024.
OBVIOUSLY WE HAD NO MONEY. SO IT DOESN'T REALLY SHOW YOU THAT MUCH.
SO WE CAN GO ON TO THE NEXT SLIDE. FISCAL YEAR 25.
THIS IS WHERE WE STAND AS OF APRIL 30TH. WE HAVE A TOTAL EQUITY OF $2.4 MILLION.
GIVEN THE INITIAL FUNDING DID NOT DIRECTLY OCCUR UNTIL OCTOBER 24TH.
OCTOBER 24TH. YOU CAN SEE WE'VE NOT SPENT A LOT OF THAT MONEY SO FAR.
A LOT OF THIS FUNDING, AND THE REASON WE HAVEN'T SPENT IT IS BECAUSE WE HAVE NOT BEEN HIRING AS QUICKLY AS I HAD ANTICIPATED WHEN WE PUT OUR INITIAL BUDGET TOGETHER AND THE HIRING WAS DELAYED BECAUSE WE ARE STILL WORKING WITH THE CITY AND DEFINING ROLES AND RESPONSIBILITIES RELATIVE TO THE OFFICE OF ECONOMIC DEVELOPMENT AND THE EDC, BUT WE HAVE WE ARE NOW IN THE POSITION. WE FEEL COMFORTABLE THAT WE'RE READY TO MOVE FORWARD AND HIRE PEOPLE TO BE ABLE TO DO THE JOB, BECAUSE I WANTED TO MAKE SURE WE KNEW EXACTLY WHAT WE WERE HERE FOR AND WHAT WE WERE DOING.
SO THAT IS WHY WE DIDN'T SPEND AS MUCH MONEY AS I ANTICIPATED.
WE HAD AN INITIAL BUDGET OF SPENDING ALMOST $3 MILLION IN OUR FIRST YEAR.
WE ARE CO-LOCATING WITH DOWNTOWN DALLAS, INC., WHICH VERY GENEROUS RENT RATE OF $600 A MONTH.
THANK YOU VERY MUCH, JENNIFER SCRIPPS AND TEAM, AND BUT WE'RE GOING TO BE OUT OF SPACE WITHIN A FEW MONTHS, AND SO WE'RE ANTICIPATING MOVING INTO SPACE IN THE NEXT PROBABLY AT THE BEGINNING OF THE YEAR.
SO NEXT SLIDE. THIS IS OUR FIVE YEAR PROJECTION.
AGAIN, WE ARE NOT PROJECTING ANY REVENUE OUTSIDE OF WHAT WE'VE RECEIVED FROM THE CITY.
WE JUST DIDN'T FEEL UNTIL WE LAUNCHED THE FUNDRAISING CAMPAIGN THAT I WOULD BE COMFORTABLE PROJECTING WE WERE GOING TO RAISE MONEY UNTIL WE ACTUALLY GOT OUT IN THE MARKET RAISING MONEY. SO THIS IS A FIVE YEAR PROJECTION OF EXPENSES, AND THAT WE HOPE THAT WE WILL LAUNCH THIS FUNDRAISING CAMPAIGN, WHICH WILL BE A THREE YEAR CAMPAIGN TO RAISE SEVERAL MILLION DOLLARS A YEAR.
[00:30:04]
WE ALSO HAVE PROVIDED THE CITY, WHEN WE PROVIDED OUR BUDGET TO THEM IN FEBRUARY, REQUEST OF $4 MILLION IN 2027 FOR FUNDING FOR THE EDC.THAT'S NOT REFLECTED HERE, OBVIOUSLY, BECAUSE YOU ALL HAVEN'T REVIEWED THAT AND LOOKED AT IT, BUT TO BREAK DOWN AGAIN THE EXPENDITURES, I'VE TALKED ABOUT THE OFFICE SPACE.
WE HAD PROJECTED WE MOVE IN SEPTEMBER OF SPRING OF 25.
WE'VE NOT MOVED. WE ALSO HAVE NOT HIRED STAFF, BUT WE WILL BE HIRING PEOPLE IN THE NEXT FEW MONTHS, AND IN FISCAL YEAR 26, WE ANTICIPATE ADDING A COMMUNICATIONS POSITION, AN ADDITIONAL BUSINESS DEVELOPMENT PERSON.
PERHAPS. WE HAVEN'T DECIDED WHETHER THAT'S GOING TO BE INTERNATIONAL BUSINESS DEVELOPMENT OR RELATIVE TO REAL ESTATE, DEPENDING ON WHAT OUR NEEDS ARE, BUT MAINLY THE EXPENSE EXPENSES HERE ARE FOR PERSONNEL AND, AND WELL, AS WELL AS INCREASED TRAVEL FOR DELEGATIONS IN THE FUTURE IN TERMS OF BREAKING DOWN THOSE EXPENSES AND HAPPY TO ANSWER ANY MORE QUESTIONS ABOUT THAT.
THANK YOU. I, ON BEHALF OF THE CITIZENS OF THE CITY OF DALLAS, MYSELF INCLUDED, AS WELL AS BEING THE VISION BEHIND CREATING THE ECONOMIC DEVELOPMENT CORPORATION, I THINK YOU'LL SEE THAT THERE'S A TREMENDOUS AMOUNT OF BENEFIT FROM THE WORK THAT WE'RE GOING TO BE ENGAGING IN A VERY TRANSPARENT WAY.
THANK YOU SO MUCH FOR YOUR LEADERSHIP, MAYOR PRO TEM, AND TO VICE CHAIR, NARVAEZ AND COUNCILMEM BER ARNOLD, THANK YOU AGAIN ALSO FOR YOUR SERVICE TO THE CITY OF DALLAS AND YOUR SUPPORT AND LEADERSHIP.
YOU'VE BEEN VERY, VERY HELPFUL TO ME IN PROVIDING ME WITH FEEDBACK, AS ALL OF YOU HAVE SINCE I'VE BEEN IN THIS ROLE, BUT I'M HAPPY TO ANSWER ANY QUESTIONS YOU MAY HAVE, AND I HOPEFULLY I'VE ANSWERED YOUR QUESTIONS ABOUT THE ECONOMIC DEVELOPMENT CORPORATION.
THANK YOU. OKAY. FIRST I WANT TO SAY THANK YOU ALSO, LINDA.
COLLEAGUES IT IS NOW 1:35, AND WE HAVE A WHOLE LOT OF BRIEFING ALL THE WAY FROM A TO I.
SO WE'LL PROBABLY HAVE A QUORUM. OKAY. THANK YOU.
SO WITH THAT CHAIRMAN [INAUDIBLE]. THANK YOU, MR. CHAIR, AND LINDA, THANK YOU FOR THIS THOROUGH PRESENTATION.
WE MET. OH, I THINK IT WAS LAST FALL. YOU WERE MY FIRST MEETING, AND THERE WERE A LOT OF OPEN ISSUES AT THAT TIME. GIVEN THAT YOU HADN'T BEEN IN OFFICE FOR VERY LONG, BUT I CAN SEE NOW WITH THIS PRESENTATION THAT YOU HAVE TAKEN A VERY THOUGHTFUL APPROACH AND SPENT A LOT OF TIME IN WORKING THROUGH A LOT OF THOSE OPEN ISSUES ABOUT JUST WHAT THE EDC SHOULD BE DOING, AND SO I THINK THIS WAS AN IMPORTANT JUNCTURE AT WHICH TO HEAR FROM YOU.
TO GET THE LATEST UPDATES ON JUST WHAT THE EDC IS DOING, I THINK YOU'RE ON THE RIGHT TRACK.
THANK YOU, AND I REALLY APPLAUD YOUR EFFORTS FOR THE BENEFIT OF DALLAS AND ITS ECONOMY.
A FEW QUESTIONS. WHEN YOU AND THE CITY MANAGER HAVE BEEN MEETING WITH THE TOP TEN TAXPAYERS IN THE CITY, WHAT WAS YOUR MESSAGE TO THEM? WELL, THE MESSAGE WAS, WE'RE HERE TO SUPPORT YOU, AND IT WAS AN INTRODUCTORY MEETING, IN MOST CASES FOR THE CITY MANAGER TO MEET THEM.
SO IT WAS A GREAT WAY FOR THEM TO MEET HER, SEE HER, HEAR WHAT HER VISION IS FOR THE CITY, BUT IT WAS ALSO TO ASK THEM, WHAT DO YOU NEED AND WHAT ARE THE CHALLENGES THAT YOU HAVE? AND CANDIDLY, THERE WERE NO SURPRISES. OBVIOUSLY, WHEN YOU'RE TALKING ABOUT DOWNTOWN BUSINESS, WE'RE TALKING ABOUT SAFETY, AND THAT'S BEEN THAT'S BEING ADDRESSED IN A VERY EFFECTIVE MANNER, BUT THAT'S ALSO THE CONCERNS OF OTHER COMPANIES THAT ARE OUTSIDE OF THE DOWNTOWN AREA.
SO MOST OF THEM ARE VERY INTRODUCTORY INTRODUCTORY MEETINGS FOR THE CITY MANAGER, BUT ALSO INTRODUCING WHAT THE ECONOMIC DEVELOPMENT CORPORATION'S ROLE IS AND HOW WE CAN HELP THEM GROW THEIR BUSINESS, AND SO THAT'S BEEN THE BASIS OF THE CONVERSATIONS.
WHAT KIND OF RESPONSE HOW WOULD YOU CHARACTERIZE THEIR RESPONSE TO YOUR MESSAGE? WAS IT POSITIVE, NEUTRAL? IT'S BEEN VERY ENTHUSIASTIC.
EVERYONE WANTS TO BE HEARD OBVIOUSLY AT TEXAS INSTRUMENTS IS BORN HERE, GROWN HERE.
WE OWE AN AWFUL LOT TO THAT COMPANY. THEY'VE CONTRIBUTED TO THE ECONOMIC VIBRANCY OF OUR REGION, BUT SPECIFICALLY FOR THE CITY OF DALLAS. SO THEY WERE VERY APPRECIATIVE OF THE MEETING, AND THEY HAVE SUBSEQUENTLY REACHED OUT, BUT WE WILL CONTINUE FOLLOWING UP WITH THEM BECAUSE AGAIN, IF YOU DON'T HAVE THE FOLLOW UP,
[00:35:04]
IT DOESN'T REALLY MAKE ANY DIFFERENCE. IT'S JUST A ONE TIME ENGAGEMENT.SO THAT CONTINUOUS FOLLOW UP IS REALLY, REALLY IMPORTANT, BUT I THINK THEIR FEELING WAS THEY KNOW SOMEBODY, THEY KNOW WHO TO CALL, AND NOW THEY FEEL LIKE THEY HAVE A CONNECTION TO THE CITY, WHICH IS REALLY IMPORTANT DURING THOSE CONVERSATIONS OR FOR THAT MATTER, ANY OTHERS THAT YOU'VE HAD WITH BUSINESS EXECUTIVES, DID YOU RECEIVE ANY INQUIRIES ABOUT THE AVAILABILITY OF FINANCIAL INCENTIVES TO RETAIN BUSINESS IN DALLAS OR TO ATTRACT RELOCATIONS? WELL, THERE'S A COUPLE OF DIFFERENT. THERE HAVE BEEN SEVERAL DIFFERENT THINGS THAT HAVE BEEN VERY HIGH PROFILE THAT YOU'RE VERY ENGAGED IN, IN DOWNTOWN THAT PROBABLY WILL REQUIRE INCENTIVES, AND I KNOW THOSE EFFORTS HAVE BEEN MADE, ALTHOUGH I'M NOT INVOLVED IN THOSE CONVERSATIONS.
AS WELL AS MR. SPATH AND MISS LEPESKA, BUT INCENTIVES ARE NOT NECESSARILY EVERYTHING.
PEOPLE ARE GOING TO BE MOVING HERE BECAUSE OF WHAT WE CAN OFFER THEIR BUSINESS, AND SO BEING ABLE TO TELL OUR STORY AND NOT LEADING WITH INCENTIVES, I THINK IS A REALLY IMPORTANT ROLE FOR THE EDC.
WELL, AND THAT'S MY PREFERENCE, THAT WE EMPHASIZE THE NATURAL ATTRIBUTES OF THE CITY OF DALLAS AND LOCATING HERE WITHOUT TRYING TO BRIBE BUSINESSES TO COME HERE, BECAUSE I THINK THAT'S JUST A VERY SHORT TERM AND SHORTSIGHTED APPROACH.
WE NEED TO SELL DALLAS FOR WHAT IT IS SO OBVIOUSLY THE EDC IS NOT IN A FINANCIAL POSITION TO OFFER ANY KIND OF INCENTIVES, AND I DON'T ANTICIPATE THAT'S GOING TO CHANGE FOR THE FORESEEABLE FUTURE.
NO. SO WHEN YOU DO RECEIVE INQUIRIES, WHAT KIND OF RESPONSE DO YOU MAKE? DO YOU REFER THEM TO THE OFFICE OF ECONOMIC DEVELOPMENT? WHAT DO YOU SAY TO THEM? SO WHENEVER THERE'S A REQUEST FOR INCENTIVES, BASICALLY THE CITY OF DALLAS HAS AN INCENTIVE TOOL THAT'S BEEN CREATED, AND I ENGAGE HEATHER LEPESKA OR KEVIN SPATH IMMEDIATELY, AND THAT HAS BEEN AND THAT'S WHERE THE INTRODUCTION POINT IS.
THEY ALSO WILL BE LOOKING AT STATE OF TEXAS INCENTIVES, AND SO I'VE SPOKEN TO THE STATE OF TEXAS ECONOMIC DEVELOPMENT GROUP AND THEY HAVE PROVIDED INFORMATION RELATIVE TO THEIR INCENTIVES. SO I FEEL MY ROLE IS TO PROVIDE THEM WITH INFORMATION.
OBVIOUSLY I HAVE NO CONTROL OVER THOSE DECISIONS, BUT I ALSO THINK WE CAN ALSO HELP THOSE COMPANIES IDENTIFY WHICH INCENTIVES ARE POTENTIALLY AVAILABLE FOR THEM AND ALSO MAKE INTRODUCTIONS.
SO AGAIN, THAT CONNECTION ROLE IS VERY, VERY IMPORTANT.
GREAT, AND YOU MENTIONED THAT YOU WERE IN THE PROCESS OF OUTLINING IN CONJUNCTION WITH THE OFFICE OF ECONOMIC DEVELOPMENT YOUR RESPECTIVE ROLES, AND I'M JUST CURIOUS IF THAT PROCESS HAS BEEN COMPLETED.
I THINK IT'S IMPORTANT THAT THE EDC REMAIN INDEPENDENT AND HOPEFULLY SELF-SUFFICIENT AT SOME POINT IN THE NOT TOO DISTANT FUTURE, AND SO I'M JUST CURIOUS IF YOU ARE SATISFIED WITH THAT PROCESS OF OUTLINING WHAT ROLES YOUR INDEPENDENT ENTITY WILL HAVE VERSUS WHAT THE GOVERNMENTAL ROLE WILL BE? WE ARE NOT COMPLETE, BUT I THINK WE'RE DOWN TO THE FINAL TWO ISSUES THAT WE NEED TO WORK OUT.
ONE IS NON-DISCLOSURES, IN TERMS OF WHAT INFORMATION CAN THE CITY AND THE EDC PROVIDE TO EACH OTHER AND HOW WE PROTECT INFORMATION IS ONE OF THE ISSUES, AND THE OTHER QUESTION IS EXACTLY WHO WILL BE LEADING IN BUSINESS DEVELOPMENT AND WHETHER THAT IS THE ROLE OF THE CITY OF DALLAS OR WHETHER THAT IS THE ROLE OF THE ECONOMIC DEVELOPMENT CORPORATION. SO FRANKLY, I FEEL LIKE WE'RE SIGNIFICANTLY ALONG THE ROAD OF GETTING THOSE RESOLVED, BUT WE DID HAVE A MEETING WITH THE CITY ATTORNEY LAST WEEK, AND BASED ON HER REVIEW, IT'S GOING TO BE A MONTH BEFORE SHE CAN EVEN LOOK AT SOME OF THESE ISSUES THAT WE'RE TALKING ABOUT WITH OUR INTERLOCAL AGREEMENT. SO IT'S GOING TO TAKE A LOT LONGER THAN I WISH.
FRANKLY, WE'VE BEEN HAVING THESE CONVERSATIONS SINCE LAST SEPTEMBER.
OKAY. THANK YOU. MR. CHAIR, ANYONE ELSE? CHAIRWOMAN STEWART.
SURE. JUST REAL QUICK. SINCE WE BROUGHT UP TI COUPLE OF TIMES, THEY ARE IN DISTRICT TEN.
[00:40:03]
AND THEIR MAJOR ISSUE HAS BEEN A HOMELESSNESS ISSUE IN AND AROUND THEIR CAMPUS.RIGHT. SO I DO FEEL LIKE THEY'VE HAD SOME CONNECTIONS I HAVE NOT TALKED TO, YOU KNOW, THE HIGHER UPS IN THE CORPORATE OFFICE BUT I HAVE BEEN TO THEIR CAMPUS ON A VERY REGULAR BASIS. I'M ALWAYS THE WOMAN WHO SHOWS UP AT THE WRONG SECURITY GATE.
SO THEY GO, OH, YEAH, IT'S YOU AGAIN. I'LL GET THAT FIGURED OUT ONE OF THESE DAYS, BUT ANYWAY, I DO FEEL LIKE WE HAVE ESTABLISHED A RELATIONSHIP WITH THEM AND THAT THEY DO KNOW WHO TO CALL FOR CERTAIN ISSUES.
NOW, I KNOW THERE ARE PROBABLY SEVERAL OTHER ITEMS THAT MAY HAVE BEEN ON THEIR LIST, AND THEY DID HAVE A CHANCE TO MEET THE CITY MANAGER AT A COMMUNITY MEETING WITH OHS AND OTHER STAFF PEOPLE. SO WE WERE MAKING SOME INROADS THERE.
I APOLOGIZE IF WE DIDN'T QUITE GET TO THE PERSON WHO NEEDED TO KNOW HOW TO CONNECT WITH CITY HALL, BUT I WOULD, YOU KNOW, BE HAPPY TO FOLLOW UP ON ANY MEETINGS THAT YOU ALL HAVE HAD AND MAKE SURE THAT THEY KNOW YOU KNOW, WHO THE COUNCILMEM BER IS AND HOW TO ACCESS OUR OFFICE AND THE RESOURCES THAT WE HAVE.
I THINK THE CITY MANAGER IS THE ONE ROLE THAT THEY FELT LIKE THEY DID NOT HAVE A CONNECTION TO, AND SO OBVIOUSLY THERE WAS A PROCESS IN THE CONFIRMATION OF THE CITY MANAGER.
SO GETTING THERE SHORTLY AFTER SHE WAS CONFIRMED WAS, I THINK, REALLY IMPORTANT.
VERY IMPORTANT. YES, AND EXACTLY WHAT YOU'RE TALKING ABOUT, THOSE ARE THE THINGS THAT THEY GAVE US, BUT THEY I THINK WHAT MY COMMENT WAS, IT WAS CITY STAFF RELATED AS OPPOSED TO YOUR ROLE AS AN ELECTED OFFICIAL.
RIGHT, RIGHT. WELL, I THINK THE CITY MANAGER HAS BEEN VERY ENGAGED AND IS REACHING OUT, AND I'M DELIGHTED TO SEE THAT SHE WAS ABLE TO START THAT RELATIONSHIP OR PICK BACK UP THAT RELATIONSHIP WITH TI. THANK YOU VERY MUCH.
ANYONE ELSE? MAYOR PRO TEM, THANK YOU, MAYOR PRO TEM, AND THANK YOU, LINDA, FOR EVERYTHING.
THANK YOU. YES, ABSOLUTELY. THANK YOU, AND BUT I'M REALLY EAGER AND WANTING TO KNOW MORE ON AND I KNOW YOU'RE GIVING AN UPDATE NOW, BUT I WOULD LIKE TO HAVE A MEETING TO JUST KIND OF SEE HOW THERE'S SYNERGY AROUND THE DIFFERENT MOVING PARTS. SOUTH DALLAS SPECIFICALLY, I'M TALKING ABOUT SOUTH DALLAS, DISTRICT SEVEN.
WE HAVE SO MUCH OPPORTUNITY, AND A LOT OF WORK AND POLICY AND TOOLS THAT HAVE BEEN ESTABLISHED AND THINGS KIND OF JUST ON THE BRINK, AND NOW WE HAVE OPPORTUNITIES TO REALLY MANIFEST OUR OWN DESTINY, IF YOU WILL, AS A CITY, AND THAT'S I CAN'T TELL YOU HOW MANY CONVERSATIONS I'VE HAD HERE RECENTLY THAT I'M LIKE, I NEED Y'ALL.
I NEED Y'ALL IN THIS ROOM, AND SO I JUST AM JUST GOING TO ASK IF WE COULD MAYBE OFFLINE GET SOMETHING SCHEDULED SOON FOR US TO KNOW WHAT THAT LOOKS LIKE MOVING FORWARD. BRINGING IN THE PARTNERS WITH HFC AND PFC, DIFFERENT HOUSING OPPORTUNITIES, BUT ALSO SOME OF THESE CORPORATE PARTNERS THAT WE'RE TRYING TO ENTICE.
I FEEL LIKE WE'RE WE'RE STILL MISSING THE PIECE THAT YOU ALL WERE ESTABLISHED TO FILL THE VOID OF.
I JUST NEED TO KNOW HOW TO BETTER UTILIZE Y'ALL.
I WOULD LOVE TO BE ABLE TO MEET WITH YOU AND TALK ABOUT THAT.
I'VE FRANKLY NOT REALLY FIGURED OUT MY ENTRY POINT HERE.
I WAS SO EXCITED TO GO TO THE GO TO THE RESTAURANT, BUT YOU KNOW WHAT'S HAPPENING WITH THE FOREST THEATER? WHAT'S HAPPENING WITH THE FEDERAL GRANT THAT'S GOING TO IMPROVE MARTIN LUTHER KING BOULEVARD? I'VE MET WITH HARRISON BLAIR SEVERAL TIMES TO TALK WITH HIM ABOUT THE OPPORTUNITIES THERE.
I JUST HAVEN'T FOUND THE RIGHT ENTRY POINT, SO I WELCOME THAT CONVERSATION.
EXCELLENT. WELL, WE WILL BE REACHING OUT TO GET THAT CONVERSATION STARTED.
WE'VE GOT SOME REALLY EXCITING THINGS, BUT WHENEVER YOU JUST SAID ALL OF THE GOOD THINGS THAT ARE HAPPENING AND ARE ON THE BRINK BUT IF I COULD ASK FOR YOU TO ADD IN THAT SPIEL, THE STREETCAR OF SOUTH DALLAS. I WOULD LOVE A STREETCAR.
YES, WE NEED TO HAVE THAT ADVERTISED AS WELL, BUT THANK YOU FOR EVERYTHING YOU DO.
LOOKING FORWARD TO THE WORK WE CAN DO TOGETHER. THANK YOU VERY MUCH. CHAIRMAN NAVARRO, THANK YOU, MR. CHAIR, AND , LINDA, I WANT TO ALSO SAY THANK YOU FOR I KNOW YOU WEREN'T IN THE ROLE VERY LONG, BUT WE QUICKLY GOT TO GET ONTO A TOUR AND YOU KNOW, OBVIOUSLY WE'RE ALL GOING TO FIGHT FOR OUR OWN DISTRICTS, RIGHT? BUT I LOVE THAT YOU PUT THAT SOUTH DALLAS WAS THIS GEM THAT'S BEEN UNMINED, AND YOU'RE ABSOLUTELY CORRECT AND RIGHT.
THERE'S SO MUCH OPPORTUNITY ALL OVER SOUTH AND SOUTHERN DALLAS THAT IT'S SO IMPORTANT TO MAKE SURE THAT IT'S HIGHLIGHTED, BUT THEN I, BUT WHAT I GOT TO SHOW YOU WAS THE STUFF THAT HAD BEEN HIGHLIGHTED AT ONE POINT DECADES AGO.
[00:45:03]
RIGHT, BUT HAS BEEN FORGOTTEN, AND SO I THINK YOU SAW A LOT OF WHERE THERE'S REDEVELOPMENT OPPORTUNITIES, ESPECIALLY IN THAT NORTHWEST DALLAS CORRIDOR.THAT HARRY HINES UPPER HARRY HINES IS GOING TO NEED A LOT OF WORK, BUT WE CAN KEEP IT MIXED UP.
I MEAN, I THINK I GAVE YOU SOME IDEAS OF WHAT I SAW, BUT IT'S LIKE IT TOOK ME ALMOST THIS ENTIRE TIME I'VE BEEN ON COUNCIL TO FINALLY GET DEVELOPMENT TO START UP IN THAT NORTHWEST AREA, BUT THEN AT THE SAME TIME, IT'S LIKE, OH, LET'S NOT FORGET THE UPPER STEMMONS CORRIDOR AND THEN, YOU KNOW, WE'VE ALREADY BEEN TALKING ABOUT THAT.
PEGASUS PARK WAS AN ECO DEV DEAL THAT I GOT TO GET THROUGH, AND I DON'T KNOW IF THEY HAVE ANY SPACE LEFT IN THEIR OFFICE, BUT I KNOW THEY'RE EXPANDING. SO IT MIGHT BE A PLACE WHERE WHEN YOU GOT TO GET OUT OF THERE THAT, YOU KNOW, COULD ALSO SHOW PEOPLE LIKE, LOOK, THIS IS WHAT'S BEING DONE IN DALLAS AS WELL.
PEGASUS IS AMAZING. IT'S AWESOME. IT'S REALLY, REALLY GREAT.
YAY. RIGHT. I WANTED TO KNOW ABOUT LATINO COMPANIES AND CORPORATIONS.
HOW ARE YOU ALL LOOKING AT, YOU KNOW, LOOKING THE CITY OF DALLAS IS NOW, THEY SAY WE'RE 42% OF THE POPULATION, BUT IT'S PROBABLY CLOSER TO 50%, AND WE HAD A REALLY SEVERE UNDERCOUNT IN THE CENSUS.
SO THAT'S GOING TO BE REALLY IMPORTANT TO TAP INTO THE ECONOMIC VALUE THAT IS THE LATINO COMMUNITY.
US LATINOS, WE'RE VERY LOYAL TO OUR BRANDS. IT'S WILD, AND I WAS LIKE, YOU KNOW WHAT? IT'S TRUE. IT'S CERTAIN BRANDS. IT'S LIKE I'M NEVER LEAVING THEM. IT'S LIKE, THAT'S MY BRAND. YOU KNOW? THAT'S WHO I EITHER BUY CERTAIN THINGS FROM OR THAT BRAND IS WHAT I USE FOR THIS, THAT AND THE OTHER, BUT HOW DO WE TAP INTO THAT AND MAKE SURE THAT THOSE COMPANIES THAT ARE LOOKING TO COME INTO DALLAS OR THE TEXAS REGION, WE KNOW SO MANY PEOPLE WANT TO BE IN TEXAS, BUT THEY WANT TO BE IN DALLAS AND THEY WANT TO BE NOT DFW.
THEY WANT TO BE IN DALLAS , RIGHT, AND HOW DO WE TAP INTO THAT? BECAUSE I WAS REALLY SURPRISED TO HEAR THAT NOBODY'S BEEN REACHING OUT TO THEM, AND SO THANK YOU FOR BEING THERE TO BE THAT PERSON BECAUSE THAT WAS MISSING. NOW YOU'RE THERE. SO, BUT YOU CAN'T DO IT ALL BY YOURSELF.
I KNOW THAT'S IMPOSSIBLE, AND NOT ON THIS. I'M HIRING SOME PEOPLE. HEY.
HEY. YOU KNOW, I GET IT. IT'S LIKE, YOU KNOW, YOU WANT TO SLEEP EVERY ONCE IN A WHILE. YOU WANT TO, YOU KNOW YOU KNOW, HAVE SOME OF YOUR OWN TIME TO YOURSELF, BUT HOW ARE YOU GOING TO BE ABLE TO TAP THAT? AND THEN AND YOU NAILED IT WITH FIFA COMING.
IT'S GOING TO BE ALL EYES ON DALLAS RIGHT FROM THE ENTIRE GLOBE, BUT ESPECIALLY WITHIN THE LATINO COMMUNITY GLOBALLY, BECAUSE IT'S LIKE THE TOP SPORT. I WOULD WELCOME YOUR ASSISTANCE.
I HAVEN'T BEEN ABLE TO FIND THE ENTRY POINT, FRANKLY, AND I THINK IT'S VERY, VERY IMPORTANT, I THINK FROM THE WORKFORCE DEVELOPMENT SIDE OF IT, I THINK THAT'S OUR BIGGEST OPPORTUNITY IS TO GROW THE WORKFORCE, AND SO THESE THIS CONNECTION WITH DALLAS COLLEGE, WHICH IS REALLY, REALLY VERY BENEFICIAL, I CAN TELL YOU WHEN WE'VE TALKED WITH COMPANIES, PARTICULARLY AT PEGASUS, WHEN WE'VE GONE TO PEGASUS AND BEEN TALKING TO COMPANIES THAT ARE INTERESTED IN EXPANDING IN PEGASUS THEIR FIRST QUESTION IS ABOUT THE WORKFORCE PIPELINE, NOT JUST NECESSARILY COLLEGE GRADUATES, BUT THOSE THAT ARE ACTUALLY LAB TECHNICIANS AND OTHERS THAT CAN ACTUALLY HAVE A GREAT OPPORTUNITY FOR A GREAT FUTURE.
DALLAS COLLEGE IS ESSENTIAL TO THAT. THE FACT THAT THEY CAN ACTUALLY YOU KNOW, CREATE A WORKFORCE PLAN PROGRAM THAT'S A CERTIFICATION PROGRAM FOR A COMPANY IS REALLY IMPORTANT, AND I THINK THAT 'S THE GREATEST OPPORTUNITY FOR THE LATINO POPULATION TO BE ABLE TO CONNECT INTO THESE BUSINESSES, BECAUSE OUR JOB IS NOT JUST TO BRING PEOPLE IN FROM OUTSIDE.
OUR JOB IS TO MAKE SURE THAT PEOPLE THAT ARE HERE HAVE A JOB AND A GREAT OPPORTUNITY FOR A GREAT FUTURE, AND THAT'S REALLY IMPORTANT. SO I WELCOME ANY ASSISTANCE YOU CAN PROVIDE ME INTO THAT COMMUNITY. EXCELLENT, AND THANK YOU. I KNEW YOU WOULD HAVE THE PERFECT ANSWER BECAUSE YOU'RE JUST YOU'RE LINDA MCMAHON. SO BUT BUT WITH THAT, WITH THE WORKFORCE DEVELOPMENT AND THAT'S WHAT I WANTED TO END WAS ABSOLUTELY SPOT ON.
PROBABLY A DECADE AGO WHEN I WAS A TRUSTEE AT DALLAS COUNTY SCHOOLS.
I HAD WAS A BABY ELECTED OFFICIAL, AND I WENT TO, YOU KNOW, I'M A MEMBER OF [INAUDIBLE] I'M ON THE NATIONAL BOARD NOW, AND ONE OF THE BIG POLICY INSTITUTES WE DO ANNUALLY IS ON WORKFORCE DEVELOPMENT, AND TEN YEARS AGO, THEY WERE TELLING US ABOUT WHAT THEY SAW FOR THE TEN MOST NEEDED POSITIONS, AND NOW THEY GO GET THESE.
IT'S NOT ABOUT WHAT YOU NEED TO DO. IT'S ABOUT JUST HERE'S INFORMATION, USE IT HOW YOU WANT TO USE IT, AND I GOT ELECTED TO CITY COUNCIL SHORTLY AFTER THAT, AND THAT'S WHEN I MET WITH DALLAS COLLEGE AND DISD AT DALLAS COLLEGE WEST CAMPUS AND LET THEM KNOW I TOOK THEM OUTSIDE AND THEY LOOKED AT ME LIKE I WAS INSANE, BECAUSE IT WAS AUGUST AND WE WERE ALL DRESSED, YOU KNOW, IN OUR SUITS, AND I WAS LIKE, NO, I WANT TO GO ON A FIELD TRIP. LET'S GO OUTSIDE, AND I SAID, LOOK THERE TO THE NORTH.
[00:50:09]
YOU KNOW, SECTIONS IN THE ENTIRE COUNTRY AND THE WORLD ALWAYS RANKED NUMBER THREE OR HIGHER, RIGHT? AND I SAID, AND WE HAVE NO PROGRAMS FOR SEVEN OF THE TOP TEN NEEDED JOBS, WHICH WERE ALL IN THE MEDICAL FIELD.IT'S ALL PRE-COVID, BUT I SAID YOU WERE DOING A DISSERVICE TO WEST DALLAS AND GREATER DALLAS BECAUSE WE HAVE NO PROGRAMING FOR THIS NOW DISD AT THE HIGH SCHOOL, WE HAVE MEDICAL PROGRAM, WE HAVE AT THE UPLIFT HIGH SCHOOL AS WELL.
NOW THEY'RE ALL GRADUATING FROM COLLEGE, OR MANY HAVE GRADUATED FROM COLLEGE AND ARE COMING BACK, OR THEY'RE GRADUATING FROM MEDICAL SCHOOL, AND IT'S EIGHT YEARS LATER AND THEY STARTED IT A YEAR AFTER THAT. SO SEVEN YEARS LATER, IT'S LIKE IT'S REALLY IMPRESSIVE TO SEE THESE STUDENTS, AND I SAID, JUST GIVE THEM A CHANCE, GIVE THEM AN OPPORTUNITY AND THEY'LL RUN FOR IT, AND EVERY SINGLE ONE OF THEM HAVE EITHER GOTTEN INTERNSHIPS AT ONE OF THOSE HOSPITALS AND THEN COME BACK AND GOT JOBS THROUGH THOSE THOSE WE'RE WE'RE GROWING OUR OWN. SO IT'S A WAY WE CAN PROBABLY HELP PARTNER AND GET SOME, SOME TECHNICAL ASSISTANCE FOR EITHER VERY LOW OR NO COST.
SO YEAH, LET'S LET'S DEFINITELY TALK. YEAH, AND I WANT TO THANK YOU ALSO FOR NOT JUST HERE WITH THIS, BUT THE OTHER, THE OTHER YEARS, THE OTHER SEVEN YEARS OF JUST AN AMAZING PARTNERSHIP.
YOU SAID NICE THINGS ABOUT ME, BUT, YOU KNOW, IT'S ALL BECAUSE OF YOU.
YOU REACHED OUT. YOU WANTED TO MAKE THAT HAPPEN, AND HOW? YOU SAID FOLLOWING UP WITH THOSE THAT YOU MET.
I THINK THAT'S ALL. THAT'S WHAT BUSINESS IS, RIGHT? MAKING THOSE CONNECTIONS AND GROWING THOSE CONNECTIONS.
I THINK WE CALL IT NETWORKING. SO AND YOU'RE YOU'RE ONE OF THE MASTERS AT IT.
SO THANK YOU SO MUCH FOR EVERYTHING YOU'VE DONE, AND I LOOK FORWARD TO SEEING WHAT THIS DOES, BECAUSE MYSELF, MAYOR PRO TEM AND HIS LEADERSHIP AND I BELIEVE CHAD WEST, OUR COUNCILMAN, CHAD WEST WERE THE ONES WHO DID THE MEMO TO GET THIS STARTED.
SO THANK YOU TO THEM AS WELL FOR YOUR LEADERSHIP, MAYOR PRO TEM, AND THANK YOU, LINDA, FOR AND WHOEVER HIRED YOU THAT BOARD, THAT GROUP. THEY DID A GOOD JOB. SO THANK YOU SO MUCH, I APPRECIATE IT.
CHAIRMAN WEST THANK YOU. I WANTED TO SAY I DID WHAT EVERYONE ELSE HAS SAID.
WHAT I'VE SEEN IS BEING A HUGE BENEFIT FROM FROM YOUR ORGANIZATION HAS BEEN OF COURSE, THE OUTREACH, BUT I REALLY LIKE WHAT YOU MENTIONED ABOUT THE RETENTION ASPECTS.
I THINK IT'S GROSSLY OVERLOOKED IN OUR CITY, IS KEEPING OUR CURRENT BUSINESSES HAPPY AND MAKING SURE THEY WANT TO STAY IN THE CITY OF DALLAS AND JUST DOING A PULSE CHECK ONCE IN A WHILE WITH THEM, AND I'M GLAD YOU'RE DOING THAT, AND THEN THE, FOR LACK OF A BETTER TERM, CRISIS INTERVENTION, AS WE SAW DOWNTOWN WHEN THERE'S BEEN A RETAILER THAT'S GOING TO LEAVE, YOU KNOW, WE AS A GOVERNMENT ENTITY, WE HAVE GREAT STAFF, GREAT INTENTIONS, BUT WE ARE LIMITED BY JUST LIKE THE WHEELS OF GOVERNMENT AND HOW SLOW THEY TURN. WHEREAS HAVING SOMEBODY LIKE, LIKE YOUR ORGANIZATION KEEPING THE PULSE AND THEN WHEN THE PULSE ISN'T GOING SO WELL, JUMPING ON IT AND GIVING THEM LIFE SUPPORT IS EXACTLY WHAT WE NEED.
SO WHATEVER WE CAN DO TO BE CONTINUED, SUPPORTERS OF YOUR ORGANIZATION, I'M ALL IN FOR IT.
THANK YOU. THANK YOU VERY MUCH. I REALLY APPRECIATE THAT. THANK YOU, LINDA, FOR YOUR SUPPORT, BUT I KNOW YOU GOT SOME BOARD MEMBERS I KNOW YOU INTRODUCED ME TO.
CAN YOU INTRODUCE YOUR BOARD MEMBERS? YES. SO SO DEBORAH HUNTER JOHNSON IS ON OUR BOARD, AND THEN JOHNNY KING ALSO, AND THEN CHRIS HEINBAUGH IS HERE AND I THINK THAT'S IT.
SO THANK YOU. THEY'RE A GREAT SUPPORT TEAM FOR ME, BELIEVE ME, PROVIDING ME A LOT OF SUPPORT AND GUIDANCE AND FEEDBACK, AND I GREATLY VALUE THEIR THEIR HELP THAT 'S A TEAM SPORT.
WELL I KNOW YOU GOT A GREAT CHAIRMAN GILBERT GERST.
YES, I'M EXCITED ABOUT WORKING WITH GILBERT. I JUST HAD A COUPLE OF QUESTIONS.
NUMBER ONE, I SAW THE BOARD, THE COUNCILMEM BER, YOU KNOW, THANK YOU FOR ALL THE QUESTIONS YOU ASKED, BUT I'M GOING TO TRY TO STICK TO POLICY AND PROCEDURE.
SO PEOPLE LISTEN TO IT, BUT I'M CONCERNED. IS NUMBER ONE CALLING.
NO DISRESPECT TO ANYONE, BUT THIS IS AN ECONOMIC DEVELOPMENT CORPORATION.
IS IS COMPLETELY NO TIES TO THE CITY. IT'S COMPLETELY SEPARATE.
YOU SHOULD BE ON YOUR OWN TO DO WHAT YOU WANT TO DO.
WE GOT AN OFFICIAL PERSON WHO REPRESENT US TO YOU.
I THINK THAT'S COUNCILWOMAN. I MEAN, CITY MANAGER AND KEVIN SPATH, I BELIEVE.
YES, THERE ARE. SO WHEN WE START TALKING ABOUT POLICIES AND STUFF LIKE THAT.
SO HOW ARE YOU GOING TO ENGAGE YOUR DECISION YOU'RE MAKING WITH THE COUNCIL'S? I MEAN, WHAT IS YOUR PROCESS AND PROCEDURE, HOW YOU INTERACT.
SO THEREFORE WE DO NOT TRY TO TELL YOU WHAT TO DO, BUT AT LEAST WORK WITH YOU.
SO TELL ME, WHAT IS YOUR FUTURE? HOW ARE YOU GOING TO DO THAT? WELL, THE FIRST THING I DID WHEN I TOOK THIS ROLE WAS TO REACH OUT TO EACH ONE OF YOU AND,
[00:55:06]
AND ASK TO MEET WITH YOU AND POTENTIALLY TAKE A TOUR, AND I SAW A LOT OF, I MEAN, I, I THOUGHT I KNEW DALLAS REALLY WELL.I LEARNED AN AWFUL LOT ON THOSE TOURS. I THINK THAT'S REALLY, REALLY IMPORTANT FOR ME TO HAVE A CONTINUOUS CONVERSATION WITH COUNCILMEM BERS, AND SO WHILE I HAVEN'T BEEN DILIGENT ABOUT MEETING WITH YOU ALL ON A REGULAR BASIS, MONTHLY OR WHATEVER WAS REQUIRED, I'M HAPPY TO DO THAT. WHATEVER CADENCE YOU FEEL IS APPROPRIATE.
I DO THINK I HAVE NOT BEEN TO MANY OF THE ECONOMIC DEVELOPMENT COMMITTEE MEETINGS, AND I PROBABLY NEED TO DO A BETTER JOB OF THAT AS WELL, BUT I'M I HAVE EVERY INTENTION OF MEETING WITH THE NEW COUNCILMEM BERS AS THEY ARE FINALIZED IN THEIR ROLES AND TALKING TO THEM ABOUT HEARING WHAT THEIR VISIONS ARE. I'M SURE THEY HAVE A LOT OF OPINIONS ABOUT THE THINGS THEY NEED TO SEE HAPPEN IN THEIR DISTRICTS, BUT FRANKLY, IF I CAN CONTINUOUSLY HEAR FROM YOU AS TO WHAT YOU NEED, COUNCILMEM BERS THAT ARE NOT HERE HAVE REACHED OUT TO ME AND SAID, WOULD YOU MEET WITH OR TALK WITH THIS DEVELOPER? THAT COMPANY OR WHATEVER? AND I'VE DONE THAT ON EVERY SINGLE OCCASION.
SO IF THERE'S ANY SITUATION WHERE YOU HAVE A BUSINESS OR AN INITIATIVE THAT YOU'D LIKE US TO BE ENGAGED IN, PLEASE DON'T HESITATE TO REACH OUT TO ME. BECAUSE I WANT TO BE HERE TO SERVE THE CITY OF DALLAS.
OKAY, AND WE TALK ABOUT BUDGETING. YOU MENTIONED MAYBE YOU NEED $4 MILLION SOMETIME DOWN THE ROAD, BUT AS YOUR BUDGET, I KNOW WE PUT IN 7 MILLION, AND I THOUGHT THAT 7 MILLION GOING TO GET SPENT VERY RAPIDLY.
YOU KNOW, SINCE YOU WAS THE ONLY PERSON WHO WORKED THERE, YOU GOT TO HIRE MORE ADMINISTRATION WHATSOEVER. SO HOW ARE YOU GOING TO ADDRESS THAT? TRYING TO TALK TO THE CITY MANAGER TO GET THE COUNCIL.
HOW ARE YOU GOING TO MAKE SURE THAT WE UNDERSTAND YOUR YOUR NEED FOR THE BUDGET DOWN THE ROAD? YOU DO NEED SOME MONEY FROM THE CITY TO MAKE SURE YOUR BUSINESS GO FORWARD, BECAUSE YOU'RE GOING TO TAKE A LITTLE TIME TO GET YOUR FOUNDATION TO BUILD IN ORDER TO RAISE THE FUND. WELL, WHAT WE WERE ASKED TO DO WHEN WE SUBMITTED OUR BUDGET TO THE OFFICE OF ECONOMIC DEVELOPMENT IN FEBRUARY, WAS TO PROJECT OUT WHAT WE WOULD WANT TO HAVE REQUESTED, AND THAT WAS WHERE THE 4 MILLION CAME INTO IN 2027.
THAT WAS ANTICIPATING THAT WE MIGHT NOT BE AS SUCCESSFUL IN THE FUNDRAISING CAMPAIGN AS I'M HOPEFUL THAT WE WILL BE, BUT A LOT OF ECONOMIC DEVELOPMENT CORPORATIONS HAVE WHAT THEY CALL A FEE FOR SERVICE CONTRACT WITH THE CITY, AND THERE ARE CERTAIN THINGS THAT HAS TO BE PERFORMED.
SO I WOULD ANTICIPATE IN THE FUTURE GOING FORWARD THAT THERE WOULD BE AN ARRANGEMENT WITH THE CITY, THAT WE WOULD PERFORM CERTAIN TASKS, AND FOR THOSE TASKS BASED ON OUR SUCCESS IN THOSE TASKS, THAT YOU WOULD GIVE US A CERTAIN COMPENSATION FOR THAT, AND THAT HAPPENS AROUND THE STATE WITH ECONOMIC DEVELOPMENT CORPORATIONS.
I KNOW THEY DO THAT IN IRVING, THEY DO THAT IN SAN ANTONIO AND PROBABLY MANY OTHERS.
SO I WOULD ANTICIPATE THAT WOULD BE THE PROCESS WHERE WE WOULD ACTUALLY IDENTIFY.
SO ONCE WE HAVE THE ABILITY TO KNOW WHAT THINGS WE'RE ABLE TO PERFORM THROUGH THESE METRICS THAT WE WILL BE TRACKING JOB CREATION OR WHATEVER BUSINESS FORMATIONS WHATEVER IS NECESSARY, WHERE WE WHERE WE IDENTIFY THOSE IMPORTANT METRICS TO BE ABLE TO TRACK OUR PROGRESS WOULD BE THE MECHANISM FOR WHICH WE WOULD ASK COMPENSATION FOR THE CITY, AND THE LAST THING I KNOW, YOU HAD JOHNNY KING OVER IN MARKETING.
DALLAS HOW ARE THEY GOING TO MARKET? HE ALSO GOT THE CITY.
YOU ALSO GOT THE POLICE DEPARTMENT, YOU GOT DW, YOU GOT ALL THESE DIFFERENT PEOPLE MARKETING.
SO HOW ARE YOU GOING TO COORDINATE THIS TOGETHER? SO THEREFORE WHEN WE TALK ABOUT THE CITY YOU'RE TALKING ABOUT ONE BRAND, I THINK IT'D BE A VERY VALUABLE FOR US ALL TO SIT TOGETHER AND TALK ABOUT THOSE THINGS WE HAVE NOT. I HAVE TALKED WITH CRAIG DAVIS A LOT ABOUT THE MARKETING THEY DO, AND THEY'VE BEEN, I CAN TELL YOU, VERY, VERY HELPFUL. ACTUALLY ON A LOT OF DIFFERENT POINTS, BUT , YOU KNOW, I DO THINK THAT THERE IS A WAY THAT WE CAN BE PRESENTING THE CITY OF DALLAS IN A MORE UNIFIED WAY AND WHEREVER WE CAN SUPPORT ON THE BUSINESS SIDE RELATIVE TO THE OTHER THINGS THAT MAY BE NEEDED.
I MEAN, EVERY SINGLE DEPARTMENT, EVERY SINGLE GROUP HAS A CERTAIN GOAL THAT THEY HAVE TO, YOU KNOW, ACHIEVE. OBVIOUSLY, VISIT DALLAS IS ABOUT TOURISM, BUT WHEN YOU'RE TALKING TO PEOPLE THAT ARE COMING HERE, THEY'RE ALSO PROBABLY COMING HERE AND SAYING, WELL, THIS MIGHT BE AN INTERESTING PLACE TO MOVE.
SO YOU KNOW, THAT WE PROBABLY NEED TO SPEND A LITTLE BIT MORE TIME BEING MORE STRATEGIC IN THINKING ABOUT THOSE THINGS, BUT I DO FEEL FROM C ONVERSATIONS I'VE HAD WITH EVERYONE SO FAR IN OTHER DEPARTMENTS, FRANKLY, THE OFFICE OF ECONOMIC DEVELOPMENT AND I TALK ABOUT WHERE WE SHOULD BE PLACING ADS OR WHERE WE SHOULD BE SPONSORING, AND SO THOSE CONVERSATIONS ARE ONGOING ALREADY, BUT , YOU KNOW, MAYBE MORE THOUGHT COULD BE GIVEN TO THE BROADER MARKETING.
[01:00:02]
OKAY. WELL, THANK YOU FOR YOUR PRESENTATION. THANK YOU.I THANK ALL THE BOARD FOR YOUR COMING. THANK GOODNESS YOU'RE DOING A GREAT JOB.
I MEAN, WE NEED A CORPORATION, SO WE ALL WANT TO BE A PARTNERSHIP.
I'M KEVIN SPATH, DIRECTOR OF THE OFFICE OF ECONOMIC DEVELOPMENT.
THIS IS HEATHER LEPESKA, ASSISTANT DIRECTOR. WE HADN'T INTENDED, MR. CHAIR, TO PRESENT THE ITEMS, THE MEMOS? WE'RE JUST HERE TO RESPOND TO QUESTIONS, IF THAT'S OKAY.
I SEE CHAIRMAN RIDLEY. REALLY? THANK YOU, MR. CHAIR. WHAT IS THE REASON THAT THE AGREEMENT WITH DIGITAL REALTY TRUST NEEDS TO BE RESTRUCTURED? WHAT'S MOTIVATING THIS? SO THEY INTENDED TO DO ABOUT $100 MILLION OF IMPROVEMENT TO THE FACILITY AT 2323 BRYANT STREET, AND FOR A VARIETY OF REASONS, THEY NO LONGER ARE DOING THAT SCOPE, AND SO, AS A RESULT, THEY REQUESTED THAT WE AMEND THE AGREEMENT SO THAT THEY COULD REMAIN ELIGIBLE FOR THEIR TEF MONEY FROM THE STATE OF TEXAS.
SO ARE THEY WANTING TO CONTINUE WITH THE PROJECT JUST ON A SMALLER SCALE? CORRECT. WHAT DOES THAT MEAN? LESS SQUARE FOOTAGE OR REDUCED SCOPE, WHAT'S THE SCALE BACK LOOK LIKE? SO THEY WERE, AND WE HAVE REPRESENTATIVES FOR THE COMPANY HERE SO I CAN PULL THEM IN TO ANSWER THOSE QUESTIONS, BUT OUR UNDERSTANDING IS THAT THEY INTENDED TO DO A RENOVATION AND IMPROVEMENT ON THE DATA CENTER EQUIPMENT IN THAT FACILITY, AND THAT, BECAUSE OF A VARIETY OF REASONS, IS NO LONGER FEASIBLE.
SO THEY WILL CONTINUE TO HAVE THE OFFICE AND THE WORKFORCE, BUT NOT THE DATA CENTER EQUIPMENT.
SO IT WON'T BE A DATA CENTER PER SE. CORRECT? THERE WILL. YES, AND DO WE STILL HAVE AN INTEREST IN SUPPORTING WHAT THEY'RE NOW PROPOSING? YES. SO AS A RESULT OF THIS AGREEMENT, WE WILL GET ADDITIONAL JOB CREATION FROM THEM THAT WE WEREN'T THAT THEY WERE NOT CONTRACTUALLY OBLIGATED TO PROVIDE PREVIOUSLY.
SO THE MINIMUM JOBS REQUIREMENT FROM 143 TO 175, AND WE REDUCED THE SIZE OF THE GRANT THAT WE WERE PROVIDING FROM 200,000 TO 50,000. OKAY. THANK YOU. ANYONE ELSE ON B ? LET'S GO TO MEMORANDUM C, ANY QUESTIONS ON THAT ONE? YES. OKAY. MISS ARNOLD.
YOU ASKED IF I HAVE A QUESTION. A QUESTION ON C.
I HAVE EXCITEMENT ON C. THANK YOU VERY MUCH, CHAIRMAN.
THANK YOU. SO I REALLY WANTED TO I'M EXTREMELY EXCITED, OF COURSE, BUT I WOULD HOPE THAT WE'RE ABLE TO MOVE THIS ON.
THIS IS A LONG TIME COMING, AND I WON'T START CALLING OUT ALL THE NAMES TODAY, BUT WE KNOW THAT IT IS HEADED BY MR. KEVIN SPATH. MS. ROBIN BENTLEY, OF COURSE, AS THE DIRECTOR, BUT YOU HAVE A TON OF OTHER NAMES, BUT I THINK THE OLD HEADS THAT I'VE JUST WORKED WITH THROUGH THE YEARS WOULD BE MISSED.
ROBIN BENTLEY, MR. KEVIN SPATH, OF COURSE, I THINK I MISSED HEATHER.
PROBABLY MIGHT HAVE BEEN A LITTLE BIT LONGER IN THAT SPACE, AND ANGELA, OF COURSE, MISS ANGELA HARDIMAN IS IS IS THE NEW PERSON, AND OF COURSE YOU KNOW, MR. LEON DAVIS, WHO HAD TO GIVE ME SOME PRAYERS ON A, ON A DAILY BASIS ABOUT THIS PARTICULAR PROJECT, BUT THAT I WILL RESERVE ALL OF THE EXCITEMENT BECAUSE AT THIS POINT THIS HAS JUST REALLY BEEN A BLESSING TO THIS CORNER, AND FOR THOSE OF YOU WHO DON'T KNOW, THIS IS ON LANCASTER CORRIDOR IN THE LANCASTER CORRIDOR.
IT WAS THE LIBRARY WAS HERE ON THIS SPOT, SO IT'S BEEN VACANT, AND I PROMISE YOU, MY CONVERSATION AROUND THIS PIECE OF PROPERTY HAS BEEN GOING ON SINCE OFF AND ON, SINCE 20, PROBABLY 16. SO FOR ECONOMIC DEVELOPMENT IS GOING TO BE A POWERFUL,
[01:05:02]
VERY POWERFUL PROFILE. YOU HAVE JOBS AND YOU JUST HAVE A GREAT DEAL OF OF JUST WE'RE JUST, MR. SPATH, YOU ALREADY KNOW I'M EXTREMELY EXCITED.WE ARE, TO O. SO EVEN THOUGH I'M SAYING I'M EXCITED, I'M GOING TO FIND ANOTHER WORD, BUT I PROMISE YOU, IF YOU LOOKED UP EXCITEMENT EITHER OR IN THE DICTIONARY OR THE THESAURUS, OR IF YOU ASKED AI, WHAT DOES EXCITEMENT LOOK LIKE? MY FACE WOULD PROBABLY BE RIGHT THERE.
OKAY, WHAT A PICTURE. WHAT A PICTURE OF THIS PROJECT.
YEAH. SO THANK YOU FOR THAT, AND ARE WE ABLE TO WE'RE ABLE TO SAY WHAT IT IS.
ARE YOU GOING TO TELL WHAT IT IS. YEAH. I'M SORRY THE PROJECT, MR. SPATH, WE'RE GOING TO PUT A NAME TO IT. I GUESS.
SO IT IS PUBLIC. YOU CAN. OKAY. WE'LL GO ON AND SAID I'D LIKE FOR YOU TO SAY IT BETTER.
COME ON. YOU [INAUDIBLE] THE NAME. I KNOW IT I WANT BECAUSE I WANT HIM TO.
SHE WANT YOU TO SAY IT. GO AHEAD. OKAY. OKAY.
SO, YES, THIS IS A CITY OWNED PROPERTY OF 1.5 ACRES.
YOU MAY RECALL THAT WE DID AN RFP IN 2022. IN 2020, THE END OF 2022, COUNCIL AUTHORIZED UCR AS A SELECTED DEVELOPER TO DEVELOP THE SITE. LAST YEAR, THE COUNCIL APPROVED A SUBSIDY FOR THIS PROJECT.
AT THAT TIME, THE PROJECT WAS MOSTLY A SPECULATIVE PROJECT.
WE KNEW THAT FROST BANK WOULD BE ONE ANCHOR IN ONE BUILDING, BUT WE THOUGHT THERE WOULD BE TWO OTHER BUILDINGS AND THAT THOSE TENANTS WERE TBD AT THAT TIME. WHAT'S CHANGED IN THIS, IN THIS LAST YEAR AND A HALF IS THE DEVELOPER UCR HAS, HAS WORKED REALLY HARD TO FIND AN ANCHOR TENANT, A LOCAL OWNED BUSINESS, AND SO THE PROJECT IS NOW ONLY TWO BUILDINGS.
BOTH WILL BE BUILD TO SUIT FOR ONE FOR FROST AND ONE FOR WINGFIELD'S BREAKFAST AND BURGER, AND SO WE'RE VERY EXCITED THAT WINGFIELD'S AS A LOCALLY OWNED BUSINESS WILL BE IN THIS PROJECT.
THEY'LL, THEY'LL BE OBVIOUSLY EXPANDING FROM THEIR LOCATION ON BECKLEY, AND SO, YEAH, THIS HAS TAKEN A LOT OF WORK FOR A VERY SMALL PROJECT, BUT IT'S VERY MEANINGFUL AND IMPORTANT FOR DISTRICT FOUR AND THE LANCASTER CORRIDOR.
I JUST WANT TO HEAR HIM SAY, WINGFIELD BURGERS, AND I JUST WANT TO MAKE SURE I SAID THAT AND I JUST THANK THEM AGAIN AND I KNOW THAT MISTER JAIME RESENDEZ WANTS ME TO SAY THAT FOR HIM AS WELL, BECAUSE THAT'S AN INSIDE JOKE FOR HIM TO COME OVER AND GET A FREE BURGER THAT I'M GOING TO TREAT HIM TRUE TO, BUT I AM THANKFUL FOR YOUR YOUR EFFORT AS A DEPARTMENT, AND NOW I'M GOING TO LEAVE IT AT THAT SO THAT I CAN SAVE THE REST OF EXCITEMENT FOR THE FOR THE COUNCIL FOR THE 11TH.
YES, SIR. OKAY. OKAY. YOU GOT EIGHT MINUTES ON THE 11TH.
EIGHT MINUTES. IS THAT BECAUSE FOUR AND FOUR EQUALS EIGHT? YEAH. OKAY. ALRIGHT. THANK YOU SO MUCH. I REALLY, CHAIRMAN, REALLY WANT TO SAY THAT.
THANK YOU, MR. CHAIR. I'D LIKE TO DIG INTO MORE SPECIFICS ABOUT THE PROPOSED INCREASE IN THE CITY'S CONTRIBUTION OF 800,000 AND THE DEVELOPERS REDUCTION IN INVESTMENT OF 1.3 MILLION.
SO, FIRST OF ALL, WHY THE CHANGE FROM A TIF AGREEMENT TO A CHAPTER THREE ECONOMIC DEVELOPMENT GRANT? THAT WAS AT THE REQUEST OF THE COUNCILMEM BER FROM DISTRICT FOUR.
WHAT ARE THE ADVANTAGES OF DOING THAT? WELL, THEY'RE THEY'RE NEGLIGIBLE EITHER WAY.
I MEAN, THE TIF DISTRICT HAS FOUR SUBDISTRICTS, AND SO IT IT IS NOT AS DOES NOT HAVE AS HEALTHY OF A CASH FLOW, AND SO THE BOND FUNDS ARE FOR THIS PURPOSE, AND THEY'RE A BETTER FIT FOR THIS TYPE OF PROJECT, AND IT HELPS THE DEVELOPER LINE UP THE EQUITY AND THE DEBT FOR THIS PROJECT, KNOWING THAT THE CITY'S CASH IS ALREADY IN HAND WILL BE AVAILABLE AND READY TO BE DISBURSED WHEN THE PROJECT IS COMPLETE.
SO ORIGINALLY, WHEN THE COUNCIL AUTHORIZED ECONOMIC INCENTIVES, I PRESUME THAT YOUR DEPARTMENT DID THE USUAL DUE DILIGENCE IN OBTAINING UNDERWRITING TO JUSTIFY THE ECONOMIC INCENTIVE.
WHAT HAS CHANGED IN THAT CALCULATION THAT YOU'RE NOW COMING TO US TO CHANGE THE TERMS OF THAT AGREEMENT? YES, WE DID UNDERWRITING A YEAR AND A HALF AGO AND THAT THIS PROJECT, AS IT CURRENTLY HAS BEEN RESTRUCTURED, STILL FITS UNDER THE RANGE OF ACCEPTABLE RETURNS TO THE EQUITY INVESTORS IN THE PROJECT.
[01:10:08]
SO IT STILL MEETS OUR UNDERWRITING CRITERIA. THE DIFFERENCE IN THIS PROJECT AND THE VERSION LAST YEAR, AGAIN, THIS IS A BUILD TO SUIT OF TWO BUILDINGS FOR TWO SPECIFIC TENANTS.THEY WILL BE SECURED BY LEASES WITH THOSE TWO TENANTS.
SO THIS IS A MUCH BETTER PROJECT IN TERMS OF SECURITY.
THE DEVELOPERS ONLY BUILDING THE CORE AND SHELVE THE BUILDINGS IN ADDITION TO MAKING THE IMPROVEMENTS TO THE SITE, AND SO THAT'S WHY THE REQUIRED INVESTMENT IS COMING DOWN, BECAUSE THEY'RE DOING LESS SQUARE FOOTAGE, AND DOES THAT MEAN THAT THE TENANTS WILL BE RESPONSIBLE FOR THE TENANT FINISH OUT? YES, TO SOME DEGREE. I WOULD MENTION THAT WINGFIELD'S IS ALSO PURSUING A SMALL BUSINESS INCENTIVE THROUGH OUR SMALL BUSINESS PROGRAM THAT WILL HELP THEM WITH THEIR OWN FINISH OUT AND THEIR FURNITURE, FIXTURES, EQUIPMENT REQUIREMENTS.
OKAY. THANK YOU. ANYONE ELSE? OKAY. WITH THAT, LET'S GO TO ITEM D.
ANY QUESTIONS? NO QUESTIONS. YEAH I'VE GOT SOME HAPPY TO EXPLAIN THIS ONE.
IF THERE ARE QUESTIONS AND OF COURSE ON D OKAY LET'S GO TO E REAL QUICK.
YOU GOT SOME ON E? YEAH I DO. SO KEVIN. THE ORIGINAL AGREEMENT WAS A THREE PARTY AGREEMENT BETWEEN THE CITY, KROGER AND OCADO SOLUTIONS, AND OCADO SOLUTIONS HASN'T FULFILLED THEIR OBLIGATIONS UNDER THE AGREEMENT.
WHAT WAS OCADO BRINGING TO THE TABLE THAT WE WILL NO LONGER HAVE? AND CAN KROGER ASSUME THAT OBLIGATION? YEAH, SO IT WAS A TRI PARTY AGREEMENT.
KROGER WAS THE WAS BUILDING AND INVESTING IN THE BUILDING, AND THE JOB CREATION WITH OPERATING THE FACILITY AS A FULFILLMENT CENTER. OCADO WAS THE PARTNER BRINGING THE ROBOTICS EQUIPMENT INTO THE BUILDING.
THEY HAVE DONE THAT. OBVIOUSLY, THE ROBOTICS EQUIPMENT IS OPERATING IN THE BUILDING.
THEY JUST WAY OVERESTIMATED THE JOBS THAT THEY THOUGHT THEY WOULD HAVE IN THE BUILDING.
I THINK THEY WERE REQUIRED TO CREATE 60, AND HOW MANY DO THEY ACTUALLY HAVE? THEY CREATED 28 JOBS, AND THEY MODELED THEIR JOB CREATION BASED OFF THEIR FACILITY IN THE UK, AND THEY FOUND THE LABOR PATTERNS ARE VASTLY DIFFERENT IN THE US AND SO THEY JUST THEY DON'T BELIEVE THEY'RE EVER GOING TO GET TO 60.
SO THEY THEY ARE THEY REQUESTED THAT JUST BE DROPPED.
SO THEY'VE ALREADY FULFILLED THEIR PHYSICAL OBLIGATIONS TO INSTALL THE ROBOTICS.
THEY JUST HAVEN'T EMPLOYED AS MANY AS THEY THOUGHT THEY WOULD.
CORRECT. SO KROGER DOESN'T HAVE TO STEP IN TO BUILD SOMETHING THAT WAS ORIGINALLY OBLIGATION, AN OBLIGATION UNDER THIS AGREEMENT IT'S ALREADY COMPLETED.
THAT IS CORRECT. CORRECT OKAY, AND SO OCADO JUST STEPS OUT OF THE AGREEMENT.
THEY'VE BEEN PAID FOR THEIR WORK AND THE PROJECT'S DONE.
CORRECT. OKAY. THANK YOU. AS A NOTE, YOU KNOW, KROGER WILL CREATE AN ADDITIONAL 120 JOBS ON SITE AND MAINTAIN THOSE JOBS FOR THE TERM OF THE AGREEMENT. LET'S GO TO E. I THINK CHAIRMAN WEST HAD A QUESTION.
THIS IS THE I'M ON THE WRONG ONE. I'M TALKING ABOUT NOW I'M THE HIGH SPEED RAIL.
OKAY. ON THE PID, I HAD A QUESTION ON THE PID AS WELL.
SO THE THIS IS CHANGING THE PID THRESHOLD FROM 60 TO 50% FOR A COUPLE DIFFERENT FACTORS, RIGHT.
THAT'S IT, AND I REMEMBER WHEN WE TALKED ABOUT THIS IN COMMITTEE.
I'M IN FULL SUPPORT OF IT. IS STAFF ALSO IN SUPPORT OF THIS CHANGE? IS THIS STAFF SUPPORTED? YES. YEAH. YEAH. THAT'S GOOD.
YEAH. YEAH. I MEAN, I WOULD SAY THE AND WE MENTIONED IN HERE, THERE, YOU KNOW, WE REACHED OUT TO VARIOUS STAKEHOLDERS AND MARIA SMITH, MY SISTER, ASSISTANT DIRECTOR IS HERE. SHE CAN TALK ABOUT SOME OF THE, YOU KNOW, THE DUE DILIGENCE THAT SHE'S SHE AND HER TEAM HAVE DONE, AND THERE WAS ONE STAKEHOLDER WHO YOU KNOW, WASN'T ALL THAT EXCITED ABOUT LOWERING THE THRESHOLD.
[01:15:06]
I KNOW WE TRIED TO GET THIS DONE IN MY DISTRICT.IT WAS REALLY HARD TO HIT THE THRESHOLD, SO I'M GLAD THAT'S ONE OF THE REASONS I'M SUPPORTING THIS.
I THINK PIDS ARE VERY BENEFICIAL. I WISH WE HAD ONE.
I KNOW OTHER AREAS ARE STARTING NEW PIDS AND I WISH WE HAD ONE.
COMING UP TO HELP WITH SOME OF OUR CRIME AND GRAFFITI ISSUES.
SO GO AHEAD. SO WE REACHED OUT TO WE REACHED OUT TO ALL OF OUR PID EXECUTIVE DIRECTORS, AND MOST OF THE FEEDBACK WE RECEIVED WAS THAT HAVING THE HIGHER THRESHOLDS IT CREATES ADDITIONAL IT DETRACTS FROM THE AMOUNT OF TIME THAT THEY CAN SPEND ON DIRECT SERVICE DELIVERY WHEN THEY'RE HAVING TO GO THROUGH A PID CREATION OR A RENEWAL PROCESS. WE ALSO HEARD THAT THE ARGUMENT FOR KEEPING THE BOUNDARIES, THE PETITION THRESHOLDS WHERE THEY'RE AT IS THAT IT COULD POTENTIALLY REDUCE THE AMOUNT OF OPPOSITION FROM PROPERTY OWNERS.
IT COULD POTENTIALLY REDUCE CONTROVERSY IN TERMS OF HOW WE COMPARE TO OTHER LARGE PEER CITIES IN TEXAS, WE ARE AN OUTLIER. SO WE'RE THE ONLY LARGE CITY IN TEXAS WITH THE PID PROGRAM WHO HAS HIGHER THRESHOLDS THAN THE STATE.
IF YOU LOOK AT AUSTIN, HOUSTON, SAN ANTONIO, FORT WORTH, THEY'RE ALL ALIGNED WITH THE STATE AT 50%.
HAVE WE FOUND WITH BECAUSE WE HAVE A LOT OF PIDS IN THE CITY.
HAVE WE FOUND THAT OVER TIME, AS THE PIDS KIND OF AGE OUT AGE GET A LITTLE OLDER.
IT'S MUCH EASIER TO GET EVERYBODY SIGNED BACK UP.
THEY GENERALLY ARE ADOPTED BY THE USERS AROUND THEM.
OR ARE THERE? HAVE WE SEEN SITUATIONS AND I'M NOT TRYING TO CALL ANYBODY OUT, BUT WHERE THERE'S PROBLEMATIC PIDS THAT HAVE TO KIND OF FIGHT EVERY COUPLE OF YEARS TO REESTABLISH. SO TYPICALLY WE'VE ONLY SEEN ONE PID THAT WAS NOT SUCCESSFUL AT RENEWING, AND SO THERE WASN'T THAT COMMUNITY SUPPORT, AND SO THAT HAPPENED TWO YEARS AGO.
OKAY. WELL HAPPY TO SUPPORT THIS. THANK YOU. LET'S GO TO G.
THIS IS HIGH SPEED RAIL ECONOMIC IMPACT STUDY.
I BELIEVE WE HAVE SOME CONSULTANTS, YOU KNOW BEEN WAITING MOST OF THE MORNING FOR QUESTIONS.
LET ME KIND OF KICK IT OFF. SINCE THE MEMORANDUM THERE IS A STUDY THAT WE HAVE COMPLETED THE STUDY.
SO I KNOW YOU JUST GOT THIS IN YOUR BOOK ON FRIDAY.
IF YOU HAD A CHANCE TO GO THROUGH IT AND LET ME GET SOME LITTLE HIGHLIGHT OF THE STUDY.
NUMBER ONE, WHEN WE DID THIS STUDY IN THE ECONOMIC DEVELOPMENT COMMITTEE, ASK FOR THE ECONOMIC IMPACT STUDY AND WHAT WE DID REQUEST TO STUDY THE ECONOMIC IMPACT AT THAT PARTICULAR TIME.
WE DID HAVE FUNDING AVAILABLE TO DO THE STUDY.
SO WHEN YOU DO AN ECONOMIC IMPACT STUDY, WHEN YOU HAVE FUNDING, YOU SAY, OKAY, HERE'S THE FUNDING MECHANISM TO DO THE STUDY BASED ON THE ECONOMIC IMPACT, HOW IT'S GOING TO BE FUNDED, AND SO WHEN THE CONSULTANT CAME IN, THEY IMAGINED, HEY, IN THEIR DREAM, HEY, I GOT THIS MONEY, AND THIS IS THE ECONOMIC IMPACT.
IF YOU DO HIGH SPEED RAIL, IF YOU GET THE MONEY, YOU HAVE THE WEST SIDE, YOU HAVE THE EAST SIDE, AND THEY SAID ON ONE SIDE OVER HERE YOU HAVE THE ECONOMIC IMPACT.
ON THE OTHER SIDE, YOU WILL HAVE A NEGATIVE ECONOMIC IMPACT BASED ON THE POTENTIAL OF THE MONEY.
OKAY. NOW SINCE WE DON'T HAVE THIS STUDY AND SO THERE IS DOUBT WITH THE FUNDING GOING ON RIGHT NOW, AND ALSO I WANT TO MAKE SURE THAT WE ALSO DID A RESOLUTION AND THIS RESOLUTION THAT WE DID HERE.
I WANT TO MAKE SURE THAT HOW DO WE CLEAN UP THIS RESOLUTION OR WE DO CLEAN IT UP.
DO WE STAY STAGNATED AT A LATER DATE, AND IN THAT RESOLUTION WOULD DATE ON MARCH 6TH, YOU KNOW, BY THE DALLAS FORT WORTH HIGH SPEED RAIL DISCUSSION THAT IF WE SEE ECONOMIC IMPACT STUDY REQUESTED BY THE CITY COUNCIL AS OF MARCH 6TH, THAT'S WHAT RESOLUTION. SO THEREFORE I WANT TO KNOW DO THE RESOLUTIONS STOP? DO THIS WHOLE ESTABLISHMENT OR WHATEVER. I NEED TO KNOW THAT BECAUSE WE'RE NOT GOING TO VOTE ON THIS BECAUSE THE STUDIES SAY, HEY, WE SHOULDN'T EVEN DO IT. WE AIN'T GOT NO MONEY, AND SO COULD YOU HAVE THE CONSULTANT COME ON AND WANT THEM TO EXPLAIN TO THEM WHAT WAS THE REQUIREMENT, WHAT WAS THE PROCESS, WHAT WAS THEIR GUIDANCE DOCUMENT TO DO A STUDY, AND WHEN THEY FINISH THE STUDY, WHEN THEY CAME BACK, AND I THINK, YOU KNOW, SINCE YOU DID SAY THAT EVERYBODY DIDN'T READ ALL THESE PAGES.
[01:20:03]
OKAY. CAN WE. YEAH. THANK YOU. MAYOR PRO TEM DEV RASTOGI , ASSISTANT CITY MANAGER.AS YOU NOTED YOU KNOW, THIS WAS A STUDY THAT WAS REQUESTED BY CITY COUNCIL VIA RESOLUTION, AND SO OUR BELIEF IS THAT WE'VE COMPLETED THE WORK THAT WAS REQUIRED BY THE RESOLUTION AND BECAUSE THE DALLAS TO HOUSTON PROJECT IS NOT THE CLARITY OF THAT PROJECT GOING FORWARD, IS NOT HERE AT THIS POINT IN TIME.
WE WOULD EXPECT THAT, YOU KNOW, ONCE WE HAVE MORE INFORMATION ABOUT THAT PROJECT AND OTHER HIGH SPEED RAIL PROJECTS, THAT MAYBE IT MIGHT BE AN OPPORTUNITY TO REFRESH THIS INFORMATION.
THE, YOU KNOW, I THINK I HEARD COUNCILMEM BER WEST SAY THAT IT WAS A VERY DENSE STUDY AND IT IS AND SO THERE'S A LOT OF GOOD DATA THAT'S PROVIDED IN THE STUDY, AND SO WE WANTED TO RATHER THAN PAUSE THE WORK, HAVE THE CONSULTANT COMPLETE THEIR WORK, EVEN THOUGH YOU KNOW, TOWARDS THE END, WE HAD THIS INFORMATION ABOUT THE HIGH SPEED RAIL PROJECT LOSING ITS FEDERAL FUNDING.
SO WITH THAT, I'M HAPPY TO ANSWER ANY QUESTIONS ABOUT THE PROCESS AND THE FINDINGS FROM THE STUDY, AND I WANT TO HEAR FROM THE CONSULTANT, SINCE THEY DID THE STUDY AND, AND WHAT WAS THE GUIDANCE THEY DID THE STUDY AND WHAT OUTCOME.
BECAUSE WE ARE SAYING WHEN THEY FIRST STARTED THEY HAD FUNDING, BUT NOW THEY DO NOT HAVE ANY FUNDING DO THERE, AND THE GUIDELINES THAT SAID, IF YOU'RE GOING TO DO THE EAST SIDE OR WEST SIDE.
SO I'M GOING TO WALK YOU THROUGH. OKAY. ALL RIGHT.
I'LL DEFER TO OUR PARTNERS WHO ARE ON ON THE LINE WITH BOSTON CONSULTING GROUP AND LET THEM PICK WHO'S GOING TO GOING TO TAKE THE MICROPHONE. OKAY. YOU'RE ON MUTE. WE CAN'T HEAR YOU.
CAN YOU HEAR ME NOW? WE CAN. THANK YOU. YES. OKAY.
SORRY ABOUT THAT. THIS IS KELSEY CLARK. I'M WITH BCG IN OUR DALLAS OFFICE.
SO I THINK THAT WAS THE FIRST CLEAR THING OF NOT FOR THE REGION, BUT WE REALLY WANTED TO MAKE SURE THAT WE WERE FOCUSED ON DALLAS, BUT WE LOOKED AT BOTH THE COUNTY AND THE CITY LEVEL.
WE ALSO LOOKED AT THREE DIFFERENT OPTIONS. SO ALL OF IT ANCHORS ON DALLAS TO HOUSTON, AND THAT PREMISE, OBVIOUSLY WAS THE CONNECTION WITH AMTRAK, AND LIKE HAS BEEN MENTIONED THAT HAD POTENTIAL FUNDING THERE, AND SO IT WAS ALL BASED ON SOME OF THOSE THINGS LIKE THE SITE FOR THE STATION HAD ALREADY BEEN APPROVED AND SELECTED, AND ALL OF THOSE THINGS WERE REALLY FUNDAMENTAL TO ALL OF THE THINGS THAT WE WERE LOOKING AT, AND SO THAT WAS KIND OF THE ANCHOR CASE WAS, YOU KNOW, LOOK AT DALLAS TO HOUSTON ALSO, THEN ASKED, OKAY, IF WE DO DALLAS AND HOUSTON AND THE EXTENSION TO FORT WORTH VIA ARLINGTON.
AND SO THAT WAS ANOTHER ROUTE THAT WE LOOKED AT, AND THEN WE ALSO LOOKED AT AGAIN DALLAS TO HOUSTON AND EXTENSIONS TO THE AIRPORT, AND WHAT COULD THOSE LOOK OUT AS WELL, AND SO WE LOOKED AT THOSE THREE SCENARIOS AGAIN, ALL ANCHORED IN THE DALLAS TO HOUSTON LINE, BUT THEN WITH SOME OF THOSE EXTENSION IN OUR REPORT, MOST OF THE IMPACT COMES FROM THAT DALLAS HOUSTON LINE.
THAT'S WHAT SPARKS THE REAL ESTATE DEVELOPMENT, WHICH THEN ACTUALLY SPARKS A LOT OF THE UPLIFT THAT YOU GET IN THAT AREA AND FOR THE CITY, AND SO, AGAIN, REALLY ANCHORED IN SOME OF THOSE KEY DECISIONS THAT WERE DETERMINED, AS MENTIONED, BECAUSE SOME OF THESE APPROVALS AND, YOU KNOW, A FUNDING SOURCE WAS ALREADY IDENTIFIED.
OBVIOUSLY THOSE CHANGE NOW WITH THOSE THINGS BEING PULLED.
ANY OTHER QUESTIONS? OKAY, COLLEAGUES, ANYONE HAVE ANY QUESTIONS? I GOT DO YOU WANT TO GO FIRST? OH I DID. WHICH ONE? CHAIRMAN ARNOLD. THANK YOU. I WAS TRYING TO PULL PULL SOME INFORMATION FROM THIS VERY ROBUST DOCUMENT, BUT WHAT I WILL SAY TO YOU IN JUST IN THE POSITION WHERE I AM, IT IS MY HOPE THAT THIS PROJECT IS IT BECOMES IT COMES TO FRUITION AND THAT IT IS A GREAT SUCCESS.
[01:25:01]
NOT ONLY DO WE HAVE TO THINK ABOUT THE COMMUNITIES OF IMPACT, BUT I WANT YOU TO BEGIN TO ALSO PROCESS THE IMPORTANCE AND I WILL SAY THAT AGAIN, THE IMPORTANCE OF KEEPING THE INFORMATION OUT TO COMMUNITIES AND MARKETING, TYING IN WITH OUR EDUCATIONAL INSTITUTIONS BECAUSE WE HAVE YOUNG PEOPLE WHO NEED TO BEGIN NOW PLANNING THEIR FUTURE AROUND THIS TYPE OF WHAT THE BASE IN TERMS OF THEIR CURRICULUM SHOULD LOOK LIKE, AND THAT COMES FROM A CITY TO A STATE PLANNING COMPONENT, BECAUSE WE WANT OUR CHILDREN, ESPECIALLY IN, I'M GOING TO SAY, IN THE SOUTHERN SECTOR, BUT REALLY, IT'S ALL OVER THE CITY TO BEGIN TO LOOK AT, AT THE COURSE OF STUDY THAT THEY'RE GOING TO HAVE TO PURSUE.IF THEY WOULD LIKE TO HAVE SOME OF THESE OPPORTUNITIES THAT THIS RAIL CAN PROVIDE, AND SO IT REALLY IS SOMETHING THAT IF YOU ARE NOT IN EDUCATION, YOU DON'T UNDERSTAND THAT IT NEEDS TO BE PLANNED OUT YEARS.
YOU NEED TO WRITE THE VISION, MAKE IT PLAIN, SO WHEN WE'RE ABLE TO RUN WITH IT, YOU'LL HAVE ENOUGH RUNNERS TO COMPETE IN THE MARKET, AND I WOULD LIKE TO SEE A VERY DIVERSE, ROBUST LABOR FORCE THAT'S COMING HERE, PREPARING FROM THE CITY AND NOT US HAVING TO RECRUIT PEOPLE ALL FROM THE OUTSIDE.
I KNOW YOU'VE GOT TO GO A LOT OF HURDLES AND WHAT HAVE YOU, BUT TO ME IT'S JUST ANOTHER IT'S ANOTHER OPTION, ANOTHER MODALITY OF MOVEMENT AND TRANSPORTATION.
I JUST HOPE WE'RE ABLE TO GET OVER THE, THE POLITICAL, THE POLITICAL CHALLENGES OF IT, AND I'M GOING TO PRETTY MUCH SHARE LEAVE IT LIKE THAT, BUT I DID WANT TO PUT THIS PIECE IN THE IMPORTANCE OF JUST GETTING OVER THE HURDLES.
I DO HAVE SOME EXPERIENCE WITH THE COMMUNITIES DOWN ALONG 45 DOWN IN THAT BUFFALO AND THAT AREA, YOU KNOW, WHERE THE FARMERS AND ALL ARE SAYING, BECAUSE WE HAVE A PLACE THERE, WE, YOU KNOW, KIND OF PUSH BACK, BUT I THINK LONG TERM, I JUST HOPE THAT YOU'RE ABLE TO OVERCOME THE HURDLES AND WE'RE ABLE TO GET SOME MOVEMENT ON THIS, BUT LET'S NOT LEAVE THE LET'S NOT LEAVE THE FUTURE LABOR FORCE BEHIND, AND LAST BUT NOT LEAST, WE DON'T WANT TO SEE SOMETHING SIMILAR TO WHAT HAPPENED.
SO I DID WANT TO MAKE SURE I REMINDED SOME OF YOU WHO HAVE THAT MEMORY.
THAT WAS A LOT OF EXCITEMENT ABOUT THAT, AND IT JUST STOPPED.
SO DON'T LET HISTORY REPEAT ITSELF. SO TO THOSE ONLINE, IF YOU HAVE THE ABILITY TO UNDERSTAND WHAT I'M TRYING TO GET TO, YOU'RE GOING TO HAVE TO KEEP ON MOVING AND KEEP ON PUSHING AND KEEP KEEP WORKING HARD SO WE CAN SEE THIS PART OF HISTORY COME TO FRUITION.
THANK YOU. ON THE SUPERCOLLIDER, THE OTHER COUNTRY REALLY ENJOYED THAT NETWORK THEIR INVESTMENT.
IT WAS A GREAT PROJECT. COULD HAVE STAYED RIGHT IN THERE.
YEAH. SO WITH THAT CHAIRMAN NAVARRO. THANK YOU.
THANK YOU. CHAIRMAN ATKINS. FIRST, THANK YOU TO THE GROUP THAT DID THE STUDY, AND THERE WAS A LOT OF WORK, AND I JUST WANTED TO SAY WE, OF COURSE, DIDN'T KNOW THAT THE FEDERAL FUNDING WAS GOING TO GET PULLED FROM AMTRAK.
WHEN WE STARTED THIS, THIS WAS SOMETHING THAT WE REQUESTED, AND IT ACTUALLY CAME OUT REALLY GOOD, SHOWED A LOT OF REALLY POSITIVE ECONOMIC IMPACT, REGARDLESS OF WHICH DIRECTION THE LINE WOULD GO, AND I JUST WANTED TO SAY, LIKE, LET'S KEEP THIS, AND I LIKED WHAT YOU SAID ABOUT YOUR LET'S KEEP THIS, AND HEY, THIS COULD TURN BACK ON IN A MONTH. IT COULD TURN BACK ON IN TWO YEARS.
IT MIGHT BE FIVE YEARS FROM NOW, BUT AT LEAST WE HAVE A DOCUMENT.
WE HAVE A COMPANY THAT DID THE RESEARCH AND IT CAN BE REFRESHED.
SO I GUESS THAT'S MY QUESTION IS OF THE OF THE OF THE COMPANIES THAT DID THE RESEARCH FOR US, CAN YOU TELL US, LIKE, ON A REFRESHER, HOW LONG BEFORE THIS WOULD BECOME SO STALE THAT IT WOULD BE, LIKE, BETTER TO JUST START ALL OVER? I THINK THERE'S SOME KEY THINGS THAT ARE DRIVING.
SO FOR EXAMPLE, IT IS, YOU KNOW, THE LOCATION OF OF THE STATION.
THERE WOULD ALSO BE, YOU KNOW, THERE WAS A LOT OF CONVERSATIONS WITH DEVELOPERS.
I'M LIKE, OKAY, IF THAT EXISTS, IF THIS PANS OUT, LIKE WHAT ARE YOUR PLANS? AND SO EVEN NO MATTER, I THINK WHAT AMOUNT OF TIME PASSES, LIKE THOSE ARE SOME CHECKS THAT YOU WOULD WANT TO IMMEDIATELY DO.
I DON'T THINK, YOU KNOW, IF IT'S A YEAR FROM NOW, YOU'D HAVE TO LIKE, REDO.
WHAT WE DID IS, YOU KNOW, SURVEY ON LIKE RIDERSHIP. I THINK SOME OF THOSE WILL, BUT YOU'RE NO MATTER WHAT, I THINK YOU'RE GOING TO WANT THE, YOU KNOW, SOME OF THOSE KEY INPUTS, ESPECIALLY FROM DEVELOPERS ON WHAT THEIR PLANS ARE AROUND THE AREA.
[01:30:06]
VERY GOOD. THANK YOU, AND LIKE, YOU KNOW, THE ONLY REASON I ASK THAT IS BECAUSE IT IS AN ECONOMIC IMPACT STUDY.WE'LL HAVE, YOU KNOW, PROBABLY SOME MORE DEVELOPMENT DOWNTOWN. WE'RE GOING TO HAVE A LOT MORE THAT'S BEEN BUILT OR HAPPENING BETWEEN HOUSTON AND DALLAS ONCE YOU GET INTO DALLAS PROPER, AND THEN AND THEN AT THAT POINT IT'LL BE DETERMINED, JUST LIKE THEY SAID, WHETHER WE NEED TO REFRESH OR NOT.
SO IT'S GOOD WE HAVE IT, EVEN THOUGH SO I WANT TO MAKE SURE WE DIDN'T WASTE ANY MONEY BECAUSE, AGAIN, WE DIDN'T KNOW WHAT THE CURRENT ADMINISTRATION WAS GOING TO DO.
IT'S DONE. IT'S OVER. THERE'S NOTHING WE CAN DO ABOUT THAT RIGHT NOW, BUT AND THERE'S ANOTHER COMPANY THAT'S LOOKING AT, YOU KNOW, THERE'S SO MUCH IN THE AIR, BUT I THINK THIS IS PROBABLY GOING INTO IF IT GOES INTO A PRIVATIZED AGAIN OR WHATEVER, IT'S LIKE IT'S GOING TO BE LIKE THE THIRD OR FOURTH OR FIFTH ENTITY THAT'S TAKEN ON THIS PROJECT, AND WHAT MY COLLEAGUE. CAROLYN KING ARNOLD FROM DISTRICT FOUR MENTIONED WAS, YOU KNOW, GOT TO KEEP ON KEEPING ON, AND THAT'S WHAT WE WILL DO HERE IN THE CITY OF DALLAS AS WELL.
BECAUSE THIS IS SO IMPORTANT, BUT AT THE SAME TIME, WE DON'T HAVE THE MULTIPLE TENS OF BILLIONS OF DOLLARS TO BUILD, BUILD IT OUT, AND NEITHER DOES THE CITY OF HOUSTON OR ANYBODY IN BETWEEN.
WE WILL NEED FEDERAL HELP ON THIS. SO I JUST HOPE THAT IT GETS BACK ON TRACK.
PUN TOTALLY INTENDED, AND THAT WE GET THIS GOING AND BUILT BECAUSE SINCE I'VE BEEN A KID, YOU KNOW, IT'S LIKE I'VE WANTED TO SEE, YOU KNOW, SOME FORM OF A HIGH SPEED TRAIN.
IT WAS MONORAIL BACK IN THE DAY, BUT THAT'S BECAUSE I HAD NEVER BEEN TO DISNEY WORLD YET, SO I THOUGHT IT WAS SO COOL, AND I LIVED IN HOUSTON AND THE VOTERS VOTED IT DOWN, AND I ACTUALLY CAMPAIGNED ON THAT AND, YOU KNOW, TRIED TO GET MY NEIGHBORS TO VOTE YES FOR THE MONORAIL, BUT THEY KILLED IT BUT I HEAR THEY'RE LOOKING AT IT AGAIN NOW.
SO MAYBE I'LL FINALLY HAVE ONE OF THESE TYPES OF TRAINS BEFORE I LEAVE THIS EARTH, BUT BUT, YOU KNOW, THIS IS IMPORTANT FOR US AND THE ECONOMIC IMPACT STUDY SAID EXACTLY WHAT I THOUGHT IT WOULD, WHICH WAS IT WOULD BE VERY BENEFICIAL, AND HAVING GONE TO JAPAN, MR. CHAIRMAN, WITH A FEW OF MY OTHER COLLEAGUES THAT RIGHT THERE SHOWED EXACTLY WHAT TOD CAN DO, WHAT HIGH SPEED RAIL BRINGS, THE BENEFITS AND THE IMPACT, AND IT WAS JUST, YOU KNOW, WE DO IT RIGHT AND WE DO IT, YOU KNOW, AND WE EXECUTE. THERE'S ALREADY MODELS NOT JUST HERE, BUT I JUST SAW SOMETHING I'D NEVER HEARD OF THIS CITY AND I'M SHOCKED, BUT CHING PANG OR IN CHINA, THAT WAS WILD. IT WAS JUST A TIKTOK THAT POPPED UP, AND I SENT IT TO MY COLLEAGUES THAT WENT TO JAPAN WITH ME, AND I WAS JUST LIKE, THIS IS THIS IS INCREDIBLE AND WILD, AND I DON'T EVEN KNOW IF GPS WORKS THERE, BECAUSE I COULDN'T IMAGINE I WOULD BE LOST FOR WEEKS AT A TIME IF I EVEN IF I LIVED THERE, BUT BUT IF WE DO IT RIGHT, IT JUST SHOWS YOU WHAT HIGH SPEED RAIL AS WELL AS RAIL AND GETTING EVERYTHING INCORPORATED TOGETHER.
THIS IS A VERY IMPORTANT AND VITAL AND I THINK THAT WE CAN USE IT FOR OTHER THINGS, MAYBE OTHER POTENTIAL IMPACTS THAT, YOU KNOW, PEOPLE COMING BECAUSE THIS I DO BELIEVE THIS WILL COME, AND WE ALSO KNOW THAT THE STATION IS WHERE THE STATION IS.
IT'S NOT GOING TO CHANGE OR MOVE BECAUSE IT ALREADY PASSED ALL THE FEDERAL CLEARANCES.
SO ADJUSTING OR CHANGING IT IS LIKE REALLY EXPENSIVE IF WE DO THAT, AND IT'S KIND OF LIKE, WHY THROW AWAY? I THINK A 500 MILLION WAS DONE TO DO THAT IMPACT STUDY ON THE ENVIRONMENTAL IMPACT STUDY.
SO IT WAS LIKE LAST YEAR, IT WAS GOING TO BE A BILLION TO REDO THAT ONE.
SO I JUST DON'T SEE US EVER DOING THAT, BUT THANK YOU SO MUCH AND THANK YOU FOR YOUR LEADERSHIP ON THIS AND GETTING THE RIGHT SCOPE, AND I THINK YOU WERE HERE EIGHT DAYS, MAYBE WHEN YOU GOT TO GET THIS STARTED AND THE STUDY CAME OUT VERY FANTASTIC.
SO THANK YOU. THANK YOU, MR. CHAIRMAN. CHAIRMAN RIDLEY.
THANK YOU, MR. CHAIR. DEV, I NOTICED ON THE LAST PAGE OF YOUR COVER MEMO, YOU STATE THAT INVESTORS FOR TEXAS CENTRAL HAVE INDICATED THEY WILL CONTINUE TO PURSUE THE PROJECT AS A FULLY PRIVATELY FUNDED VENTURE. THEIR PATH FORWARD IS NOT YET KNOWN.
HAVE YOU SEEN ANY INDICATION THAT THEY HAVE SUFFICIENT RESOURCES TO REPLACE POTENTIAL GOVERNMENT INVESTMENT TO MAKE IT A PURELY PRIVATE VENTURE? THANK YOU FOR THAT QUESTION, COUNCILMEMBER RIDLEY. YOU KNOW, I PUT THAT STATEMENT IN THE MEMO BECAUSE THAT IS REALLY WHAT WE WERE INFORMED, AND WHAT WE'VE SEEN IN THE PUBLIC IS YOU KNOW, THERE'S AN INVESTOR WHO'S WHO'S THE PRIMARY INVESTOR FOR TEXAS CENTRAL AND HAS INDICATED THAT THEY BELIEVE THE PROJECT WILL BE PRIVATELY FUNDED.
[01:35:08]
STAKEHOLDER. SO DO I RECALL CORRECTLY THAT THE INVESTMENT FROM THE JAPANESE RAIL CAR MANUFACTURER IS ALSO GONE AWAY? THAT IS MY UNDERSTANDING THAT THIS INVESTOR TOOK OVER THEIR INTEREST, THE JAPANESE INTERESTS IN SOME OF THE PROPERTY, BUT I DON'T I DON'T HAVE A COMPLETE PICTURE, AND SO I WOULD WANT TO MAKE SURE THAT WE GET BACK TO YOU ON SPECIFICS. IF YOU'RE INTERESTED IN LEARNING MORE ABOUT WHO HAS WHAT LEVEL OF OF OWNERSHIP AT THIS POINT IN TIME, WELL, I'D CERTAINLY BE INTERESTED IN ANY FUTURE UPDATES ABOUT THE PROSPECTS FOR THIS TO BE A PRIVATELY FUNDED VENTURE.IF THAT HAPPENS, IT WOULD BE A FIRST IN WORLD HISTORY.
SO WITH REGARD TO THE ACTUAL REPORT REFERRING TO SCENARIO TWO, THE EXTENSION TO FORT WORTH VIA ARLINGTON ON PAGE 27 THERE ARE SOME MODELING TABLES SHOWING THE ECONOMIC IMPACT FOR THE FORT WORTH DALLAS TO HOUSTON ROUTE, BUT I DON'T SEE ANY FOR JUST A FORT WORTH TO DALLAS ROUTE.
WAS THAT A PART OF THE STUDY? AND IF NOT, WAS THAT BASED UPON A CONCLUSION THAT IT WOULD NOT BE VIABLE WITHOUT THE DALLAS TO HOUSTON LINK? YEAH. THAT WAS. OH GO AHEAD. NO, GO AHEAD. I WAS GOING TO DEFER TO YOU IN TERMS OF THE STUDY WORK.
YEAH. WE DIDN'T LOOK AT ANYTHING WITHOUT THE DALLAS TO HOUSTON LINE.
SO THAT WAS CONSIDERED KIND OF, YOU KNOW, BASED ON OUR CONVERSATIONS AND THE INITIAL OF THE SCOPE THAT LINE WAS KIND OF ANCHOR AND WOULD BE PART OF ANY OTHER EXTENSION LINE. SO WE DIDN'T JUST LOOK AT JUST FORT WORTH WITHOUT THE DALLAS TO HOUSTON, BECAUSE YOU DEEM THAT NOT TO BE VIABLE ON ITS OWN, I TAKE IT. I MEAN, BECAUSE THAT'S WE JUST SAID, YOU KNOW, IN THE VERY BEGINNING, WE'RE NOT GOING TO LOOK AT THAT LINE WITHOUT LOOKING TO DALLAS, HOUSTON. OKAY. I NOTICED THAT THE TABLES SHOWING ECONOMIC IMPACT DO NOT INCLUDE YOUR FOURTH ALTERNATIVE OF A NON HSR UPGRADE OF THE TREE, AND YOU ACKNOWLEDGE THAT AT PAGE 27.
WHY IS THAT? JAKE, DO YOU WANT TO JUMP IN? OH, WE CAN'T HEAR YOU JAKE. HI. SORRY. CAN YOU HEAR ME NOW? YES. GREAT. SO, WITHIN THE ORIGINAL SCOPE, THE THINGS THAT WE WERE EVALUATING FROM AN ECONOMIC IMPACT PERSPECTIVE WERE UNDER THE GUISE OF HIGH SPEED RAIL.
AS PART OF OUR WORK DIGGING INTO THE FORT WORTH EXTENSION, WE LEARNED ABOUT THE TRINITY EXPRESS AND CONSIDER THAT, BUT THIS WAS NOT A TRINITY EXPRESS. ECONOMIC VIABILITY WAS A HIGH SPEED RAIL VIABILITY, BUT AS A RESULT OF THAT, WE DID PURSUE SOME QUESTIONING AND SOME LEARNING ABOUT THE TREE.
SO YOU FELT THAT IT WAS OUTSIDE THE SCOPE OF YOUR STUDY BECAUSE IT WASN'T CONSIDERED HIGH SPEED RAIL? THAT'S FAIR TO SAY. YES. YES. I'M LOOKING AT PAGE 29.
NOW OF THE PRESENTATION, WHICH ANALYZES IN FIGURE NINE THE IMPACT OF EACH ALIGNMENT, AND IT SHOWS THE ALTERNATIVE FOR THE TREE IMPROVEMENT AS COSTING ABOUT $1 BILLION, AS COMPARED TO 6 BILLION FOR THE DOWNTOWN, EAST AND WEST ALIGNMENTS, AND EVEN MORE FOR THE TUNNEL ALIGNMENT. AS A RESULT, IT IS CLASSIFIED AS THE EASIEST PROJECT.
FEASIBILITY. IT IS ALSO TIED FOR THE MOST EASY CONNECTION TO LOCAL TRANSIT, AND IT IS RATED EASIEST FOR PROPERTY INFRASTRUCTURE DISRUPTION.
THAT TO ME INDICATES THAT IT SHOULD BE THE PREFERRED ALTERNATIVE.
DID YOU COME TO ANY SUCH CONCLUSION BASED UPON THIS TABLE? THE SCOPE WAS NOT TO COME UP WITH A CONCLUSION ITSELF.
HOWEVER, OBJECTIVELY, YOU KNOW, THOSE ARE THE FACTS THAT WE HAVE LAID OUT.
I THINK WE DEFER TO THE COMMITTEE AND THE COUNCIL ON UNDERSTANDING WHAT IS THE BEST OUTCOME MOVING FORWARD, BECAUSE THE TREE ITSELF IS NOT HIGH SPEED RAIL AND THEN THEREFORE PREVENTS CERTAIN EXPANSIONS OF HIGH SPEED RAIL, AND THEREFORE, AND I ALSO NOTE ON PAGE 33 THAT YOU CONCLUDE THAT WITH COMPLETED UPGRADES, A PROPOSED EXPRESS
[01:40:08]
TREE SERVICE COULD REDUCE DALLAS-FORT WORTH TRAVEL TIME TO 25 TO 30 MINUTES, ROUGHLY IN LINE WITH HIGH SPEED RAIL.WAS THAT YOUR CONCLUSION? THAT WAS OUR CONCLUSION BASED ON CONVERSATIONS WITH TRINITY METRO ITSELF, AND SO ON A COST PER T IME OF TRAVEL RELATIONSHIP. THE TREE IMPROVEMENT WOULD BE THE MOST COST EFFECTIVE, WOULD IT NOT? SOLELY BASED ON THAT METRIC. YES. OKAY. THANK YOU, MR. CHAIR. DEPUTY MAYOR PRO TEM. ALABAMA. THANK YOU.
THANK YOU, MR. CHAIR. MAYOR PRO TEM. I WOULD LIKE TO JUST KIND OF PIGGYBACK ON SOME OF THOSE QUESTIONS, BUT I IT WOULD ALSO, I THINK IT WOULD BEHOOVE US.
I MEAN, IT'S AN EXTENSIVE STUDY, AND I AM REALLY APPRECIATIVE OF THE WORK THAT YOU ALL DID.
I THINK IT'S VERY HELPFUL, BUT IT'S ALSO NOT IDEAL TO HAVE A CONVERSATION WHERE I'M ASKING QUESTIONS ABOUT 108 PAGE DOCUMENT WITHOUT A FORMAL BRIEFING TO BE REFERENCING.
SO I WOULD LIKE TO REQUEST THAT THIS ACTUALLY BE BROUGHT TO US IN A BRIEFING FORM WITH A PRESENTATION THAT IS PUBLIC FACING, AND GIVE US THE ABILITY TO HAVE A MORE ROBUST CONVERSATION OF WHAT THAT FUTURE LOOKS LIKE.
I THINK THAT YOU HAVE SOME PRETTY GOOD NUGGETS ON WHAT WE CAN CONSIDER TO BE THE FUTURE OF THIS PROJECT, BUT I WOULD I WOULD MUCH MORE PREFER WITH THE HIGH PROFILE INTEREST FROM THE PUBLIC FOR THIS TO BE A MORE TRANSPARENT CONVERSATION, AND I DON'T FEEL THAT IT IS, AND WE'RE JUST A PIECEMEALING OUR INDIVIDUAL QUESTIONS TO SUCH A LARGE DOCUMENT AND IMPACT STUDY THAT WE TASKED YOU ALL ON. SO THAT'S MY I DON'T WANT TO GET INTO A BACK AND FORTH HERE ON THE MEMO.
RIGHT NOW, BUT I WOULD LIKE FOR THIS TO BE IN WHATEVER RESPECTIVE.
I THINK IT DESERVES A FULL COUNCIL BRIEFING, BUT I'M FINE WITH IT.
GOING TO WHATEVER COMMITTEE STAFF THINKS IS MOST APPROPRIATE OR TIMELY, BUT WHEN IT COMES TO MAINTAINING RELATIONSHIPS NOT ONLY OVERSEAS BUT ALSO WITH OUR GOVERNOR AS MR. RIDLEY MENTIONED, WHO HAS EXPRESSED HIS SUPPORT.
IF WE'RE GOING TO BE GETTING YOU KNOW, SHIFTING OUR GEARS TOWARDS ANOTHER APPROACH ON HOW THIS CAN BE MOST EFFECTIVE ON SEEKING ALTERNATIVE FUNDING SOURCES, ETC., I'D LIKE FOR US TO HAVE A MORE ROBUST CONVERSATION.
SO THAT'S MY REQUEST. MAYOR PRO TEM, ANYONE ELSE? YES. JUST TALKING ABOUT THE ECONOMIC IMPACT STUDY.
WHAT WE ASKED OUR STAFF TO DO IS TO GO OUT AND DO AN ECONOMIC IMPACT STUDY, AND THAT WAS THEIR JOB TO DO AND THEY WENT AND HIRED SOMEONE TO DO A STUDY, AND SO THE EXPERT, THE CONSULTANT CAME IN AND SAID, HERE IS THE LAYOUT. HERE IS OUR FINDING AND BASICALLY, WHAT THEY'RE SAYING TODAY IS THERE IS NO MONEY AND YOU CANNOT DO ANYTHING, EVEN THOUGH WE GOT THE ECONOMIC IMPACT STUDY. IT'S GREAT INFORMATION, GREAT RECORD.
WE GOT A GUIDELINE, WE GOT A FUNDING PLAN, AND I BELIEVE THAT YOU CAN DO A FULL BRIEFING, YOU KNOW, IN THE FALL, WHICH I'M NOT A [INAUDIBLE]. I WON'T BE HERE, BUT THE POINT IS THAT WE GAVE THEM ASSIGNMENT.
THEY BROUGHT ASSIGNMENT BACK TO US, AND BASICALLY WHAT THEY'RE SAYING TODAY IS, HEY, BASED ON THE TIME YOU GAVE ME, YOU AIN'T GOT NO ECONOMIC IMPACT. YOU AIN'T GOT NO MONEY. SO THERE'S NO MEASUREMENT, THERE'S NO GUIDANCE TO MEASURE THIS, AND THEY SAID IF WE DID HAVE THE MONEY, YOU WOULD SAY THAT Y OU COULD SAY WE MORE BENEFIT IF YOU DID THE EASE OR BE LESS BENEFIT YOU DID THE WEST.
THEY PUT THAT IN NUMBERS IN WRITING. THAT'S WHAT THEY'RE SAYING, AND THAT'S WHAT WE PAID THEM TO DO.
SO THIS STUDY IS NOT GOING TO CHANGE. THEY'RE NOT GOING TO CHANGE ANYTHING.
EVERYBODY GET A BRIEFING. I'M JUST SAYING WHAT? THE STUDY. WE ASKED THEM TO BRING IT BACK. THAT'S ALL. YES, SIR, AND I'M NOT EXPECTING THEM TO HAVE ANY MORE ANSWERS.
I JUST WANT THIS TO BE DUG INTO MORE GRANULAR FOR THE PUBLIC FACING CONVERSATION.
I'M NOT EXPECTING THEM TO BE ABLE TO ANSWER, BUT THE REALITY IS, WITH HOW LONG THIS HAS BEEN ON THE TABLE AND HOW LONG OF A PROJECT THIS IS TO CONSIDER TO COME TO FRUITION JUST BECAUSE ONE PERSON IS OCCUPYING THE WHITE HOUSE NOW AND MAKES A COUPLE STATEMENTS OUT LOUD,
[01:45:06]
DOESN'T MEAN THAT WE SHOULD BE, [INAUDIBLE] NOT CUTTING YOU OFF.WE'RE NOT GOING TO TALK ABOUT THE WHITE HOUSE. I DON'T THINK WE'RE GOING TO. NO, THAT'S THE ONLY THING THAT'S REFERENCED IN THIS ECONOMIC IMPACT STUDY ON WHY WE DON'T HAVE FUNDING FOR IT. WELL, THE POINT IS, WHATEVER THE MONEY COMES COME FROM, WE DON'T HAVE THE FUNDING RIGHT NOW.
REGARD PRIVATE. WHEN WE FIRST STARTED THIS HIGH SPEED RAIL, IT WAS ALWAYS GOING TO BE PRIVATE, DONE PRIVATE, NO PUBLIC MONEY WHATSOEVER WHEN WE FIRST STARTED THIS PROJECT, IT'S ALL GOING TO BE PRIVATE FUNDING, AND THEN IT CHANGED WHEN WE FIRST STARTED, I WAS HERE WHEN IT FIRST STARTED. IT'S GOING TO BE PRIVATE MONEY, NO PUBLIC MONEY. THEY DON'T NEED NO FEDERAL MONEY, NO PUBLIC INCENTIVE WHATSOEVER. ALL PRIVATE. THEN THEY CHANGED THE RULE.
SO I DON'T THINK THEY TRY TO BE ON THE SAME RULE. L OOK AT PROCESS AND PROCEDURE AND THE STUDY THAT WE HIRED THEM TO DO, AND THE CITY HIRED THEM TO DO THE STUDY. THAT'S WHAT THEY BROUGHT BACK TO US.
I AGREE WITH THE PUBLIC SHOULD KNOW. WE SHOULD LET THEM KNOW WHAT'S GOING ON, BUT UNFORTUNATELY, WE'RE JUST NOW GETTING THIS STUDY. WE JUST GOT IT.
WHAT, LESS THAN A WEEK AGO? WE JUST GOT A WEEK AGO, AND THIS WAS THE FIRST OPPORTUNITY THAT I SAID, LET'S PUT IT ON A BRIEF SO AT LEAST SOMEONE WOULD KNOW BEFORE THE NEWSPAPER AND EVERYBODY GET OUT THERE AND SAY, WHAT'S GOING ON, BLAH, BLAH, BLAH. SO THAT'S WHY I BROUGHT IT TO THE ECONOMIC DEVELOPMENT TODAY, EVEN THOUGH WE DON'T HAVE THE WHOLE STUDY IN FRONT OF US, BUT THAT'S WHY WE HAD THE CONSULTANT THERE TO EXPLAIN TO US WHAT THEY FIND IS TO BE TRANSPARENT TO THE PUBLIC. ARE YOU ABOUT TO SAY SOMETHING? NO. THANK YOU FOR THE FEEDBACK AND COMMENTS. YOU'RE RIGHT.
WE JUST YOU KNOW, COMPLETED THE STUDY AND WANTED TO GO AHEAD AND ISSUE IT SO THAT WE DO HAVE THAT TRANSPARENCY WITH THE PUBLIC THAT WE'VE COMPLETED THE WORK THAT WE'RE ASKED TO DO BY COUNCIL. YOU KNOW, WE WANT TO BE RESPECTFUL OF YOUR TIME, AND SO GIVEN THE UNCERTAINTY OF THE PROJECT, WE FELT LIKE ISSUING THE REPORT WITH A MEMO AGAIN, OUR CONSULTANT THAT DID A FABULOUS JOB IS AVAILABLE TO MEET WITH COUNCILMEM BERS ONE ON ONE, AND WE'RE GOING TO GO AHEAD AND CONTINUE TO MONITOR HIGH SPEED RAIL PROJECTS AS THEY UNFOLD, AND YOU KNOW, WE'LL LOOK AT AND HOW TO BEST COMMUNICATE THAT ALONG WITH HOW THESE FINDINGS ARE RELEVANT.
OKAY. THANK YOU VERY MUCH. SO LET'S GO TO THE NEXT ITEM.
IF THERE ARE N O QUESTION, I BELIEVE WE SKIPPED ITEM E.
NO, WE SKIPPED F, RIGHT. I THINK IT WAS F . LET'S GO BACK TO F, OKAY.
YEAH. IS THERE ANY QUESTION ON F? PAUL HAD A QUESTION ON F, SO ON F IT WOULD BE, I GUESS, DEPUTY DIRECTOR OF PLANNING. HERE SHE COME. ALRIGHT, LOOK AT HER.
COME ON DOWN. I'M HERE. THANK YOU SO MUCH. THIS ITEM WAS BRIEFED BY MEMO, AND I WOULD JUST REFRESH OUR MEMORY ON THIS. THIS IS JUST AN AMENDMENT FOR THE RULES OF PROCEDURE FOR BOARD OF ADJUSTMENT.
IT CAME IN FRONT OF CITY COUNCIL AND ECONOMIC DEVELOPMENT BACK IN DECEMBER.
CITY COUNCIL IN MARCH DECIDED TO SEND IT TO BACK TO BOARD OF ADJUSTMENT SO THEY CAN UPDATE THEIR RULES OF PROCEDURE TO MATCH THE FRESHLY ADOPTED ORDINANCE THAT BASICALLY MAKES US COMPLIANT WITH SB 929 REGARDING AMORTIZATION PROCESS AND NON-CONFORMING USES. SO THIS IS THE ITEM WE BROUGHT IT BACK TO YOU AS A MEMORANDUM, AND IT'S TRACKING CITY COUNCIL ON I THINK JUNE 25TH.
I'M HERE FOR QUESTIONS. GREAT. I WOULD LIKE TO ASK THE CITY ATTORNEY A QUESTION.
THE PRIMARY SUBSTANTIVE CHANGE IN THE BOARD OF ADJUSTMENT RULES PERTAINS TO COMPLIANCE CASES, AND IT'S SOMEWHAT EXTENSIVE, BUT I WANT TO GET THE ASSURANCE TO THIS COMMITTEE THAT THE CHANGES NOW BRING THE BOARD OF ADJUSTMENTS RULES REGARDING COMPLIANCE INTO LINE WITH SB 29 AND THE CITY COUNCIL'S ORDINANCE. FOLLOWING THAT BILL. GOOD AFTERNOON, DANIEL MOORE, CITY ATTORNEY'S OFFICE.
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ALL PASSED IN FEBRUARY OUGHT TO BE IN THE RULES.THIS WAS THE WHAT WHAT YOU SEE IS WHAT THE BOARD ULTIMATELY ADOPTED, AND IT DOES COPY SOME PORTIONS OF THE ORDINANCE THAT YOU ADOPTED, BUT TO ANSWER YOUR QUESTION, YES, SIR. THIS THE RULES AS DRAFTED THAT ARE BEFORE YOU TODAY, COMPLY WITH SENATE BILL 929 FROM LAST SESSION AND THE ORDINANCE THAT YOU ADOPTED EARLIER THIS SPRING.
SO, IN OTHER WORDS, UNDER THE REVISED RULES, THE BOARD WILL NOT HAVE AUTHORITY TO COMMIT TO A DECLARATION OF A NONCONFORMING USE. WITH REGARD TO TERMINATING THAT USE WITHOUT THE CITY COUNCIL HAVING THE RIGHT TO WEIGH IN AND DETERMINE WHETHER THERE IS FUNDING FOR PAYOUT UNDER THE SB 29 REQUIREMENTS AND WHETHER THE COUNCIL WISHES TO PURSUE THAT DECLARATION OF NONCOMPLIANCE. IS THAT RIGHT? THAT IS CORRECT, YES. COUNCIL WOULD FIRST NEED TO PUT MONEY INTO THE NONCONFORMING USE FUND AND THEN AUTHORIZE THE HEARING TO GO TO BOARD OF ADJUSTMENT.
SO IT WOULD BE TWO ACTIONS BASED ON COUNCIL. SO I WOULD ANSWER THAT IN YOUR PACKETS AFTER THE MEMORANDUM, YOU ALSO HAVE THE RED LINES, AND AT PAGE 14 IT SAYS IF THE CITY'S CHIEF FINANCIAL OFFICER DETERMINES SUFFICIENT FUNDS ARE AVAILABLE, THEN THE BOARD CAN HEAR THE CASE. SO HOW DOES THIS WORK LOGISTICALLY, IF SOMEONE WANTS TO TERMINATE A NONCONFORMING USE, DO THEY HAVE THE ABILITY TO FILE AN APPLICATION WITH THE CITY? AND THEN THE ADMINISTRATIVE STAFF REFERS THAT APPLICATION TO THE CFO TO DETERMINE IF SUFFICIENT FUNDS ARE AVAILABLE? CAN I JUST CLARIFY WHEN YOU SAY SOMEONE, DO YOU MEAN A RESIDENT OR A COUNCILMEM BER? LET'S SAY A MEMBER OF THE PUBLIC, A MEMBER OF THE PUBLIC WOULD, BECAUSE ONLY CITY COUNCIL CAN AUTHORIZE THAT HEARING, WOULD PROBABLY CONTACT YOU ALL. BECAUSE AS A RESIDENT OF THE CITY OF DALLAS, I COULD NOT FILE THAT AMORTIZATION CASE.
I WOULD HAVE TO TALK TO MY COUNCILMEM BER AND SAY, YOU KNOW, COUNCILMEM BER X, THERE'S THIS PROPERTY AT 101 MAIN STREET THAT'S NON-CONFORMING. IT SHOULD BE AMORTIZED, AND SO COUNCIL WOULD FIRST PUT MONEY INTO THE NONCONFORMING USE FUND AND THEN AUTHORIZE THAT HEARING.
SO THAT'S REFLECTED IN THE LANGUAGE THAT YOU THE PARAGRAPH YOU JUST REFERRED TO M ONE WHERE IT SAYS THE BOARD SHALL HOLD A PUBLIC HEARING ON A CITY COUNCIL REQUEST TO ESTABLISH A COMPLIANCE REQUIREMENT ON A NONCONFORMING USE.
IS THAT THE FULL CITY COUNCIL HAS TO REQUEST THAT OR A CITY COUNCILMEM BER, AN INDIVIDUAL.
IT HAS TO BE AUTHORIZED BY CITY COUNCIL, AND THAT IS IN THE ORDINANCE THAT YOU PASS THIS SPRING.
SO IT WOULD HAVE TO BE AN ACTION OF THE FIFTH A MAJORITY VOTE OF THE 15.
SO BUT A CITY COUNCIL, AN INDIVIDUAL CITY COUNCILMEM BER CAN APPLY, SUBMIT AN APPLICATION TO THE BOARD OF ADJUSTMENT TO DECLARE A NONCONFORMING USE SUBJECT TO AMORTIZATION, AND THAT TRIGGERS THE CFO TO DETERMINE IF MONEY IS AVAILABLE TO PROCESS THE APPLICATION. IS THAT APPROXIMATELY CORRECT? YES, SIR.
OKAY, AND THE AND THE ENTIRE BOARD OF ADJUSTMENT HAS APPROVED THESE AMENDMENTS. IS THAT CORRECT? YES. THEY THE ALL THREE PANELS APPROVED THEM DURING THEIR MAY MEETINGS.
OKAY. THANK YOU. OKAY. THAT'S IT. ON H, WHO WE HAVE ON H? ROSA, AND WHILE YOU'RE WALKING DOWN HERE, ROSA, I THINK GO AHEAD, AND I KNOW EVERYONE'S TRYING TO LEAVE, SO WE GOT THREE MINUTES BEFORE WE LOSE A QUORUM.
YOU KNOW, I SAW A NUMBER LIKE $2.5 MILLION SOMEWHERE FOR MARKETING, AND I WAS NOT HAPPY WITH THAT NUMBER BECAUSE IT LOOKED LIKE THEY GOT MORE MARKETING MONEY FOR THE ENTIRE CITY OF DALLAS. SO I NEED TO EXPLAIN TO THAT, AND I WANT TO REVISIT THAT NUMBER BECAUSE, YOU KNOW, I DON'T SEE WHY THEY SHOULD HAVE MORE MONEY THAN THE CITY TO MARKET.
SO CAN YOU EXPLAIN THAT? SURE, ABSOLUTELY. ROSA FLEMING, DIRECTOR FOR CONVENTION AND EVENT SERVICES.
SO THAT WAS A WHOLE NUMBER. WE LOOKED AT WHAT IT WOULD COST TO THE ADDITIONAL COST AS THEY BEGAN TO SELL WHAT IS REMAINING OF THE CONVENTION CENTER AND FAIR PARK PLUS TO FUTURE SELL AND MARKET THE CONVENTION CENTER, THE EXPANDED CONVENTION CENTER AS WE MOVE FORWARD.
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WORKING WITH ALL OF OUR PARTNERS. SO I'VE ASKED THEM TO I'VE TAKEN THE NUMBER OUT.I'D LIKE THE OPPORTUNITY TO STILL BE ABLE TO FUND THEM AT SOME AMOUNT.
BRING THAT AMOUNT BACK TO YOU WITH A PLAN THAT SAYS, THESE ARE THE STEPS WE'RE GOING TO TAKE ONCE WE RENEWED THEIR CONTRACT, BUT WORKING WITH AND, YOU KNOW, WORKING IN TANDEM WITH OUR COMMUNICATIONS DEPARTMENT AND WITH OUR OTHER PARTNERS, MAKING SURE THAT DDI AND ALL OF OUR CHAMBERS, ETC.
ARE INVOLVED IN WHAT THAT PLAN LOOKS LIKE AS THEY MARKET, NOT JUST HOSPITALITY, BUT I THINK WE HEARD EARLIER OUR ECONOMIC DEVELOPMENT DEPARTMENT AND OUR EDC WORK WITH SOME OF THOSE CUSTOMERS WHEN THEY COME IN TOWN TO MAKE SURE THEY STAY HERE.
SO LOOKING AT THAT MORE BROADLY. SO I DID HEAR YOU.
SO IN THAT CONTRACT WILL BE NO AMOUNT. IT'LL BE SOMETHING THAT WILL BRING BACK TO YOU AS A PLAN, AND I BELIEVE THAT I WON'T AGAIN, I WON'T BE HERE, BUT I THINK THAT'S SOMETHING THAT THE COUNCIL NEED TO LOOK AT IT, BECAUSE WE JUST HEARD FROM THE ECONOMIC DEVELOPMENT, LINDA MCMAHON, THAT SHE NEED THE MONEY FOR MARKETING.
WE ALSO HEAR FROM KIM TOBLER, OUR CITY MANAGER SAID THEY NEED MONEY FOR MARKETING AND I THINK WE ALL SHOULD BE TOGETHER, YOU KNOW, TO MAKE SURE WE KNOW HOW MUCH MONEY WE'RE SPENDING FOR MARKETING AND EVERYTHING SHOULD BE IN ONE.
IT SHOULD NOT BE ONE INDEPENDENT OR THE OTHER SHOULD ALL BE ONE.
I AGREE, SO THAT'S QUESTION I HAD ON H. ANY OTHER QUESTION? OKAY. WHAT ABOUT I? YEAH JACK IRELAND, I SAY JACK, YOU KNOW RETIRED.
SO I GUESS HE'S NOT HERE TODAY. OH BOY. W E AIN'T GOT NO MONEY NOW.
MAYOR. GOT A HAND IN THE POCKET. MAYOR, CAN I JUST ADD SOMETHING? AND YOU DON'T HAVE TO COME BACK, ROSA, BUT WHEN YOU I JUST WANTED TO SEE IF YOU COULD BRING SOME NUMBERS.
LIKE WHAT WE SEE AT THE VISIT DALLAS BOARD MEETINGS, SPECIFICALLY ON THE RETURN.
BECAUSE I DO THINK THAT IT'S IMPORTANT TO SEE THE, THESE DOLLARS, WHATEVER NUMBER IS THAT YOU'RE COMING BACK WITH IT BUT I'D LIKE TO SEE THAT TRANSLATED TO, WHAT THAT BRINGS US BACK IN HOT, AND HOW WE'RE ABLE TO UTILIZE THAT TO SUPPORT CERTAIN DEALS, BECAUSE I DON'T THINK IT'S AS BLACK AND WHITE AS SAYING THAT WE'RE GIVING MARKETING DOLLARS TO ANOTHER ENTITY, BECAUSE I THINK THAT THE RETURN IS DIRECTLY IMPACTING OUR CITY BUDGET.
SO IF COULD YOU BRING THAT AS A PART OF IT, PLEASE? THANK YOU, AND ALSO I WOULD NOT SEND THE DEPARTMENT.
I WAS JUST SAYING JUST PUTTING EVERYONE ON THE SAME PAGE.
OKAY. ALL RIGHT. OKAY. ANY QUESTION ON I AND NO QUESTION, I WOULD JUST LIKE TO COME UP BECAUSE SHE GOT HER HANDS IN THE POCKET.
YOU CAN'T GET NO MONEY FROM HER, AND I'M TRYING TO GE $1 FROM HER.
JUST $1, YOU KNOW, BEFORE I LEAVE. OKAY. ANY OTHER QUESTION? THREE. OH, NO NO NO NO. YEAH. DON'T DON'T STOP AT POINT OF PERSONAL PRIVILEGE, MR. CHAIRMAN. WHAT I JUST WANTED TO SAY THANK YOU FOR YOUR LEADERSHIP AS OUR COMMITTEE CHAIRMAN WITH ME FOR THE LAST EIGHT YEARS.
I'M THE ONLY ONE HERE THAT'S BEEN HERE FROM DAY ONE THAT'S STILL HERE WITH YOU.
YOU HAVE BEEN AN EXCELLENT CHAIRMAN WHEN IT COMES TO ECONOMIC DEVELOPMENT.
YOU KNOW YOUR STUFF. YOU KNOW WHAT'S GOING ON.
THERE'S NO DETAIL THAT ANYBODY CAN TALK ABOUT THAT YOU DON'T KNOW THAT'S GOING ON IN THIS COMMITTEE, AND YOU ALSO HAVE GIVEN YOUR THE THINGS YOU KNOW AND GIVEN THEM TO ME FROM MY FIRST ZONING CASE WHEN I WAS SCREWING IT ALL UP, YOU ASKED IF I WANTED SOME HELP, AND I TOOK YOUR HELP AND THANK YOU FOR THAT BECAUSE WE WERE ABLE TO GET IT RIGHT AND EVER SINCE THEN, I'VE ALWAYS JUST KNOWN. I CAN GO TO YOU, CHAIRMAN, IF I HAVE ANY QUESTIONS OR I NEED SOME HELP OR ADVICE ON SOMETHING, AND IT TOOK A WHILE TO TRAIN YOU TO NOT CALL ME AT 6:00 AND 5:30 IN THE MORNING, BUT, YOU KNOW, NOW YOU CALL ME AT 9:30 AND 10:00 AT NIGHT, WHICH I PREFER, BUT YOU KNOW, BUT I KNOW WHEN THAT PHONE RINGS IT'S ALWAYS TO TALK ABOUT SOMETHING.
IT'S NOT JUST TO MESS AROUND, AND I JUST WANTED TO THANK YOU FOR.
I MEAN, IT'S BEEN 16 YEARS YOU'VE BEEN HERE, BUT EIGHT WITH ME, AND JUST THANK YOU, BECAUSE I DON'T KNOW WHAT'S GOING TO HAPPEN WITH THIS COMMITTEE IN THE NEXT TERM, BUT I'M SURE SOMEBODY WILL STEP UP, BUT WE WERE VERY LUCKY TO HAVE YOU HERE, AND IT'S BEEN AN HONOR AND A PLEASURE TO SERVE WITH YOU. THANK YOU. THANK YOU VERY MUCH. COUNCILMEM BER BEAT ME TO IT, BUT WE WANTED TO SAY THE SAME THING FROM STAFF. THANK YOU.
THANK YOU FOR YOUR YEARS OF SERVICE TO DALLAS AND THE ECONOMY, FOR UNDERSTANDING OUR COMPLEX TOOLS AND PROGRAMS, AND FOR SUPPORTING THE TEAM AS WE WORK FOR DALLAS.
SO THANK YOU FOR YOUR SERVICE. THANK YOU. ALRIGHT, I GET A LITTLE THANK YOU RIGHT HERE.
WE'RE ALL GOING TO GO. I'M JUST GOING TO ADD MY THANK YOU.
YOU'VE BEEN A TREMENDOUS LEADER IN THE LAST COUPLE OF YEARS WHILE I'VE BEEN HERE.
I'VE LEARNED A LOT, AND YES, THOSE PHONE CALLS, YOU CAN STILL CALL US , NOT AT 5:30 IN THE MORNING, BUT, YEAH, WE WOULD STILL WELCOME THOSE CALLS JUST TO HEAR ABOUT HOW YOU'RE DOING AND HOW THINGS ARE, BUT YOUR YOUR DEPTH OF KNOWLEDGE, YOU KNOW, YOUR WILLINGNESS TO DIG IN TO THESE PROJECTS, YOU'VE HAD TO DIG INTO AN AWFUL LOT OF PROJECTS AND YOU'VE MADE A HUGE DIFFERENCE.
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YOU'VE MOVED THEM FORWARD AND THANK YOU FOR YOUR HARD WORK AND YOUR COMMITMENT TO THE CITY.I WOULD NOT CALL DOING YOUR TWINS. OKAY. OKAY, GOOD.
MAYOR PRO TEM YOU OR SOMEONE I CONSIDER A MENTOR, AND I DON'T THINK THAT JUST BECAUSE YOU'RE LEAVING THAT 'S GOING TO END LETTING YOU KNOW YOU WILL BE THE PHONE A FRIEND TO ALL OF US. WHEN IT COMES TO ECO DEV.
BECAUSE I THINK THAT WE'RE ALL GOING TO BE A LITTLE LOST WITHOUT YOU, BUT I CAN'T THANK YOU ENOUGH FOR YOUR LEADERSHIP, AND I THINK THAT IT WAS VERY NICELY PUT, NOT JUST IN THE MESSAGE THAT YOU SAID, ROBIN, BUT YOUR DEDICATION TO THE ECONOMY.
I DON'T THINK PEOPLE REALIZE THE DECISIONS THAT WE MAKE HERE ARE MUCH MORE THAN POLICY DECISIONS, JUST AT A SURFACE LEVEL, BUT YOU HAVE SINGLE HANDEDLY BEEN IMPACTFUL ON THE GROWTH OF OUR CITY, AND SO THANK YOU FOR EVERYTHING YOU'VE DONE. OKAY.
NOW IT IS FOUR MINUTES AFTER THREE. THE ECONOMIC DEVELOPMENT IS ADJOURNED.
* This transcript was compiled from uncorrected Closed Captioning.