[Public Facility Corporation Meeting on July 29, 2025.]
[00:00:02]
GOOD AFTERNOON. MY NAME IS KEITH MCCALL, PRESIDENT OF THE DALLAS PUBLIC FACILITIES CORPORATION.
I WOULD LIKE TO CALL THE JULY 29TH, 2025 MEETING HERE TO ORDER AT 1201.
MY APOLOGIES FOR THE DELAY. MOVING ON TO ITEM NUMBER TWO.
ROLL CALL. SAM. ALL RIGHT. SCOTT. COUNCIL. SCOTT.
STACY. MARSHALL. STACY. RONALD. STINSON. PRESIDENT.
RON. BLANKENSHIP. CRISTIAN MARQUEZ. PRESENT. VICTOR.
TOLEDO. PRESENT. JASON. BROWN. JASON. BROWN. HE SAID HE MIGHT BE LATE. HEY, MONTGOMERY. HERE, MARK HOLMES. SAID HE WASN'T GOING TO BE IN DALLAS. KEVIN WINTERS HERE.
LAUREL STONE PRESENT. GIVE HIM A CALL.
VERY GOOD. A QUORUM IS ESTABLISHED. MOVING ON TO ITEM NUMBER THREE.
PUBLIC TESTIMONY. DO WE HAVE ANY PUBLIC COMMENTS ON ITEMS FOR 317? IF YOU'RE ONLINE AND WOULD LIKE TO MAKE A COMMENT, PLEASE RAISE YOUR HAND. BUT AS OF RIGHT NOW, WE DON'T HAVE ANY SIGNED UP. ANY PUBLIC COMMENTS FROM HERE IN PERSON? DID ANYONE SIGN UP HERE? NO. NO ONE SIGNED UP HERE.
OKAY. SEEING NO PUBLIC TESTIMONY, WE'LL MOVE ON TO ITEM NUMBER FOUR.
DISCUSSION AND APPROVAL OF THE MINUTES OF THE JUNE 24TH, 2025 DPC BOARD MEETING.
EVERYONE HAS HAD A CHANCE TO REVIEW. DO WE HAVE ANY ADDITIONS OR CORRECTIONS? SAY NONE, BUT WE HAVE A MOTION TO MOVE. MOTION FOR APPROVAL.
MADE BY DIRECTOR STENSON. SECONDED BY DIRECTOR MARQUEZ.
ALL IN FAVOR, SIGNIFY BY SAYING AYE. AYE. ANY OPPOSITION? HEARING NO OPPOSITION. THE MINUTES OF JUNE 24TH, 2025 ARE APPROVED.
MOVING ON TO ITEM NUMBER FIVE. COMMUNITY ANNOUNCEMENTS.
WE DO NOT HAVE ANY COMMUNITY ANNOUNCEMENTS THIS WEEK. WELL, I HAVE A COMMUNITY NOW.
I JUST WANTED TO LET EVERYONE KNOW THAT THERE IS A NEW IF YOU'RE INTERESTED IN FOLLOWING AFFORDABLE HOUSING AND SUCH ON THE INTERNET THE FOUNDERS OF TWO OF THE FOUNDERS OF CPAP HAVE FORMED THE LAB REPORT DALLAS. AND WE ALL KNOW PEOPLE WHO CAME TO TESTIFY BEFORE US BEFORE THIS IS A DIFFERENT ENTITY FORMED BY SHARON GRIGSBY, WHO'S USED TO BE EDITOR FOR THE METROPOLITAN SYSTEM, MANAGING EDITOR FOR THE METROPOLITAN SECTION OF THE DALLAS MORNING NEWS.
AND MATT GOODMAN, WHO MANY KNOW AS A FORMER SENIOR EDITOR OF THE CEO MAGAZINE AND D MAGAZINE, THEY CO-FOUNDED A LONG TIME JOURNALIST, SHARON GRIGSBY, AND MATT GOODMAN, AND CO-FOUNDED THE LAB REPORT DALLAS POWERED BY CHILD POVERTY ACTION LAB. ITS NEW THE PUBLICATION WILL BE DATA DRIVEN JOURNALISM AND STORYTELLING FOR WHAT'S WORKING IN OUR CITY, AND NOT WHY. THEY HAVE MANY STORIES ABOUT AFFORDABLE HOUSING IN DALLAS.
AND THEIR WEBSITE IS THE LAB REPORT DALLAS.COM.
I THINK FOR MANY OF US WHO FOLLOW WALTER GROUND AND OTHERS, IT'S JUST A GOOD WAY TO KEEP YOURSELF INFORMED ON HOUSING ISSUES IN DALLAS. SO I WANTED TO LET THAT BE KNOWN SO WE CAN ALL STAY INFORMED ON ON ISSUES AS WE SEE SO SEE FIT.
DO WE HAVE ANY OTHER COMMUNITY ANNOUNCEMENTS? SAYING NONE. ITEM NUMBER SIX ETHICS DISCLOSURES.
DPS BOARD MEMBERS SHOULD DISCLOSE ANY RELATIONSHIP A MEMBER MAY HAVE WITH THE PROJECTS TO BE CONSIDERED ON THIS AGENDA OR WITH ANY DEVELOPER, PARTICIPANT, OR FINANCIAL BENEFICIARY OF THE PROJECTS TO BE CONSIDERED ON THIS AGENDA.
EVEN IF THAT RELATIONSHIP DOES NOT RELATE TO A SPECIFIC PROJECT THE DFC BOARD IS CONSIDERING.
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ITEM NUMBER SEVEN UPDATE AND DISCUSSION REGARDING THE STATUS OF THE DEVELOPMENT OF THE PARK AT NORTH POINT, LOCATED AT 9999 TECHNOLOGY BOULEVARD. MR. MCDANIEL.ALL RIGHT. YEAH. SO WE ARE STARTING OUR CLOSING CALL FOR THAT TOMORROW.
THERE'S A BIG GROUP OF US THAT WILL BE GETTING ON A ON A CALL TO RUN THROUGH EVERYTHING, AND THEY'RE GOING TO BE WEEKLY UNTIL WE CLOSE, WHICH IS SCHEDULED FOR AUGUST 27TH. SO HOPEFULLY, YOU KNOW, THAT THAT'S ACTUALLY AFTER OUR BOARD MEETING NEXT FOR AUGUST, BUT HOPEFULLY NOT.
NEXT BOARD MEETING, BUT THE FOLLOWING. I'LL BE TELLING YOU, WE HAVE BOTH THAT PROJECT.
SO. AND THINGS ARE MOVING ALONG ON THAT FRONT.
I WAS OUT OF THE PROPERTY TWO WEEKENDS AGO AND EVERYTHING LOOKED TO BE IN ORDER STILL.
SECURITY IS STILL THERE 2411. AND NO INCIDENTS HAVE BEEN REPORTED.
THAT'S GREAT. THANK YOU VERY MUCH. AND JUST TO RECAP I ASSUME ON THE THE TITLE POLICY I'M SORRY, THE CLOSING STATEMENT. THE REIMBURSEMENT TO THE DFC FOR ALL THE ACCUMULATED SECURITY WILL BE ON A SEPARATE ITEM AT ALL COSTS, NOT JUST SECURITY. YEAH, THAT'S PART OF THE QUESTION.
AND WE'LL GET THAT OVER TO THEM. AN UPDATED VERSION OF THAT OVER TO THEM.
BEFORE EACH OF ALL. LINKS TO THE CLOSING ON THAT, THE CLOSING DATE? WELL, JUST AS THE CLOSING DATE IS SCHEDULED FOR THE 27TH OF AUGUST.
SO OUR NEXT MEETING WILL BE 2626. OKAY. VERY GOOD.
WITH NO OTHER QUESTIONS ON ITEM NUMBER SEVEN, WE'LL MOVE ON TO ITEM NUMBER EIGHT.
DISCUSSION AND APPROVAL OF A RESOLUTION APPROVING THE TRANSACTIONS FOR OAK HOUSE PHASE TWO.
LOMA, LOCATED AT 909 EAST COLORADO BOULEVARD, DALLAS, TEXAS 75 203.
INCLUDING THE EXECUTION OF ALL DOCUMENTATION NECESSARY TO CARRY OUT THE TRANSACTIONS, AUTHORIZING THE PURCHASE OF THE LAND FOR THE PROJECTS, AND AUTHORIZING THE DESK TO SERVE AS A GENERAL CONTRACTOR AND OTHER MATTERS IN CONNECTION THEREWITH.
MR. MCDANIEL. ALL RIGHT. WE'VE GOT AN EMPLOYED TEAM HERE.
AND FIRST OF ALL, ON LINE. WE GOT A BRIEF OVERVIEW, THOUGH.
WE'VE BEEN REALLY WORKING HARD TO GET GET EVERYTHING DONE.
APPRECIATE KATIE'S TEAM. AND SUMMER, OF COURSE, FOR LOOKING THROUGH SOME CHANGES IN THE PROJECT.
WE'RE SEEKING FINAL APPROVAL TODAY, AND WE WILL BE GOING.
SHELVES IN THE DIRT. I BELIEVE THAT IS THIRD WEEK OF AUGUST, IF I'M NOT MISTAKEN.
SO THIS WILL BE A QUICK, QUICK, CLOSE, QUICK START.
NO MAJOR UPDATES FROM THE LAST TIME THAT WE BROUGHT IT IN.
AND TALKED ABOUT THE RENEGOTIATED TERMS. IT WAS JUST ABOUT KIND OF HAMMERING OUT THE LEGAL LINGO.
SUMMER, DO YOU HAVE ANYTHING TO ADD TO THAT? I DON'T.
WE, I THINK WE WENT THROUGH THE, THE UPDATED TERMS ON THE LAST CALL AND ON, ON THE LAST AT THE LAST MEETING, AND THE BOARD APPROVED THOSE. AND SO THE LEGAL DOCUMENTS WERE JUST SOME MINOR LEGALESE, YOU KNOW, WORDING ISSUES THAT THAT SLADE'S KATIE SLADE'S LAWYER AND I ARE GOING BACK AND FORTH ON.
BUT OTHERWISE THE DOCUMENTS ARE SUBSTANTIALLY FINAL FORM.
AND ALL OF THE TERMS THAT WE DISCUSSED HAVE BEEN INCORPORATED INTO THOSE DOCUMENTS.
EXCELLENT. SO, YEAH. SO WE'RE WE'RE LOOKING LIKE WE'RE WE'RE READY TO HAVE A DECISION.
UNLESS. KATIE, DID YOU HAVE ANYTHING YOU WANTED TO SAY? THANK YOU EVERYBODY.
MOVE TO APPROVE. THE MOTION TO APPROVE. DO WE HAVE A SECOND? SECOND. SECONDED BY. DIRECTOR WINTERS. ROLL CALL.
VOTE, PLEASE. RONALD STINSON. YES. RYAN. BLANKENSHIP.
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YES. CRISTIAN MARQUEZ. YES. VICTOR TOLEDO. YES.KEN MONTGOMERY. YES. KEVIN WINTERS. YES. LAUREL STONE.
YES. KEITH. MONACO. YES. VERY GOOD. LET THE RECORD REFLECT THAT.
ITEM NUMBER EIGHT PASSED 8 TO 0. THANK YOU VERY MUCH.
MOVING ON TO ITEM NUMBER NINE. DISCUSSION AND APPROVAL OF A RESOLUTION APPROVING THE TRANSACTION FOR THE HUMPHREYS LOCATED AT 5339 ALPHA ROAD, DALLAS, TEXAS 7524, INCLUDING THE EXECUTION OF ALL DOCUMENTATION NECESSARY TO CARRY OUT THE TRANSACTIONS, AUTHORIZING THE PURCHASE OF THE LAND FOR THE PROJECTS, AND AUTHORIZING THE LEGION TO SERVE AS THE GENERAL CONTRACTOR AND OTHER MATTERS IN CONNECTION THEREWITH. MR. MCDANIEL. RIGHT. WE'VE GOT RIGHT HERE FROM ETHOS GROUP AND SOMEWHERE ONLINE AGAIN THIS PROJECT TO ALSO THE DOCUMENTS ARE ALSO PRETTY CLOSE TO SUBSTANTIAL FORM.
THERE'S A FEW DIFFERENT THINGS THAT WE'RE GOING TO HAVE TO WORK THROUGH THAT SUMMER.
LET ME KNOW IF SHE'S CONFIDENT THAT THAT WILL GET THROUGH.
IT'S JUST A DIFFERENT TYPE OF LOAN, SO WE HAVE TO DO THINGS A LITTLE BIT DIFFERENTLY.
HOWEVER DOWN TO THE WIRE, WE'VE GOTTEN THIS THIS THING PRETTY, PRETTY CLOSE TO THE FINAL FORM.
ENOUGH, I BELIEVE, WHERE SUMMER FEELS COMFORTABLE MOVING FORWARD WITH IT.
SUMMER, DO YOU HAVE ANYTHING TO ADD ABOUT WHERE WE'RE AT? NO. THIS DEAL IS BEING DONE. BASICALLY, ON ON YOUR YOUR TYPICAL TERMS OTHER THAN, YOU KNOW WHAT, WHAT'S BEEN DISCUSSED IN PRIOR MEETINGS? THE POINT THAT SAM WAS MAKING WITH RESPECT TO THE THE DIFFERENT TYPE OF LOAN, THIS IS GOING TO BE A HUD LOAN. AND SO THERE'S A COUPLE OF ISSUES WE'LL HAVE TO WORK THROUGH WITH THEM.
IT'S NOT ANYTHING WE HAVEN'T DONE ON PRIOR DEALS FOR YOU GUYS.
FOR EXAMPLE, THE STANDARD AT ROYAL PROJECT, IF YOU'LL REMEMBER THAT THAT WAS ALSO A HUD LOAN.
BUT WE HAVE SEVERAL WAYS THAT WE HAVE DEALT WITH THAT IN THE PAST.
SO I'M CONFIDENT THAT WE'LL GET THERE ON THIS PROJECT.
AND IF WE HAVE SOMETHING THAT, YOU KNOW THAT COMES UP, THAT WE AREN'T ABLE TO SOLVE IT IN A WAY THAT WE'VE SOLVED IT IN THE PAST, WE'LL COME BACK TO YOU GUYS AND GIVE YOU AN UPDATE THERE.
SAME. SAME AS THE PRIOR DEAL. THANK YOU SO MUCH, I APPRECIATE IT.
WELL, MY NAME IS DRAKE. PRESS THE LITTLE BUTTON ON IT FIRST.
LET ME SEE IF IT'S GOT ME NOW. YEP. HELLO, MY NAME IS DRAKE.
THANK YOU ALL FOR LISTENING TO US AND REVIEWING OUR PROJECT.
SO I'M GOING TO SHARE THAT WITH SOMEONE OR NOT.
BUT WE HAVE THE FHA NUMBER, SO IT SHOULD GO RIGHT.
OKAY. EXCELLENT. THANK YOU I APPRECIATE IT. ANY OTHER.
I AM GUESSING DOCTOR MONTGOMERY. SO ON THE MEMO, THERE'S NOT A SALES TAX SAVINGS.
I SWAG IT AT 536 ON THE PUBLIC BENEFIT. IT LOOKS LIKE IT'S SPREAD OUT AND OVER THE FIRST 36 MONTHS. THAT'S FOR 33. IT WAS ON OKAY. SORRY, I DIDN'T SEE IT IN THE IN THE ORIGINAL REPORT. YEAH, OKAY. I DON'T HAVE ANY QUESTIONS.
AND. YES, SIR. DIRECTOR MARQUEZ. YEAH. AND, SUMMER, CAN YOU TALK ABOUT ANY OF THE OBSTACLES OR CONCERNS YOU HAVE THAT MAYBE WE WERE NOT, THAT WE'RE NOT AWARE ABOUT THE BOARD MEMBERS. I KNOW YOU TALKED ABOUT THE PREVIOUS PROGRAMS AND YOU GUYS HAVE WORKAROUNDS FOR THAT, BUT WHAT ARE SOME CONCERNS WE SHOULD BE AWARE ABOUT, IF ANY, FOR THIS PROJECT, IF WE CAN'T GO THROUGH WITH WHATEVER MITIGATION THAT WE HAVE ALREADY SET FOR THE PREVIOUS YOU KNOW, ACTUALLY BE DONE WITH THE PREVIOUS SAME, SIMILAR CONTRACT.
[00:15:10]
IS HAS FOUND WHERE HUD HAS ACCEPTED SOME LANGUAGE THAT I PROPOSED, BUT IT'S BASICALLY THE ISSUE IS, IS THAT HUD HAS A PROHIBITION AGAINST RENT THAT HAS AN ESCALATOR IN IT.SO LIKE YOUR RENT IS A CERTAIN AMOUNT AND THEN WE ESCALATE IT EVERY YEAR BY 3%.
BUT AGAIN, WE'VE WORKED AROUND THAT IN ON OTHER DEALS, INCLUDING STANDARD AT ROYAL.
AND I BELIEVE THERE'S MAYBE ONE OTHER ONE WHERE YOU GUYS HAVE AN FHA LOAN THAT I CAN'T RECALL OFF THE TOP OF MY HEAD, BUT RAJ AND I ARE WORKING THROUGH THAT LANGUAGE, AND AND THERE'S ABOUT THREE DIFFERENT WAYS THAT WE CAN MANAGE THAT.
IF WE RUN INTO AN ISSUE WITH WITH HUD, BUT IT SOUNDS FROM LIKE FROM TODAY'S CONVERSATION THAT THAT'S HIS CONVERSATION WITH RAJ, WHICH RAJ AND I HAVE NOT CONNECTED ON THAT POINT YET.
BUT LIKE I SAID, I'M CONFIDENT THAT WE WILL. WE'LL HAVE A WAY AROUND IT.
BASED ON HOW WE'VE HANDLED IT ON YOUR PAST DEALS.
AWESOME. THANK YOU. THANK YOU VERY MUCH. ANY OTHER QUESTIONS OR COMMENTS? ANY OTHER QUESTIONS OR COMMENTS? WE HAVE A MOTION.
TO APPROVE. SECOND BY DIRECTOR STENSON. TO APPROVE.
SECONDED BY DIRECTOR BLANKENSHIP. NOW MOVE TO A VOTE, PLEASE, MR. MCDANIEL. ALL RIGHT. RONALD. STINSON. YES. RYAN.
BLANKENSHIP. YES. CRISTIAN MARQUEZ. YES. VICTOR TOLEDO.
APPROVED. KEN MONTGOMERY. YES. DAVID WINTERS.
YES. LAUREL STONE. YES. KEITH MCCALL. YES.
VERY GOOD. BUT THE REFEREE. BUT THE ITEM NUMBER NINE HAS PASSED 8 TO 0.
VERY GOOD. MOVING ON TO ITEM NUMBER TEN. BEFORE WE GO INTO EXECUTIVE SESSION.
IT IS 12:19 P.M. ON JULY 4TH. I'M SORRY. JULY 29TH, 2025.
THE DALLAS PUBLIC FACILITIES CORPORATION WILL NOW GO INTO CLOSED SESSION UNDER SECTION 551074.
THE TEXAS OPEN MEETINGS ACT ON THE FOLLOWING MANNER DESCRIBED IN TODAY'S AGENDA.
DELIBERATE THE APPOINTMENT AND DUTIES OF CANDIDATES FOR THE GENERAL MANAGER AS ASSISTANT GENERAL MANAGER AND SUPPORT STAFF RECOMMENDED BY THE DPS STAFF COMMITTEE IN A COST SHARING PROPOSAL WITH THE DALLAS HOUSING FINANCE CORPORATION FOR CONSIDERATION BY THE BOARD.
VERY GOOD. WE WILL NOW MOVE INTO EXECUTIVE SESSION.
SOPHIA, BEFORE YOU LEAVE, CAN YOU. DO WE HAVE THE BOARD MEMBERS ON THE.
WE HAVE ONE ONLINE, SO WE'RE GOING TO GO AHEAD AND PUT THIS IN.
LAUREL, WILL YOU DO YOU HAVE THE LINK TO SWITCH OVER? I DON'T SEE A SECOND LINK THAT I RECEIVED. SOPHIA WANTS TO JUST EMAIL ME THAT I CAN DO IT THAT WAY.
YEAH. AND SO THERE YOU HAVE IT. I THINK I HAVE IT.
I'LL TEXT SAM IF IT DOESN'T WORK, BUT I FEEL LIKE SO.
BUT I'LL BE IN TOUCH. OH, NO, I DO SEE IT. I DO SEE IT.
I GOT IT. OKAY. SO IF YOU DON'T HAVE IT. THANK YOU.
AND AT 1:08 P.M. ON JULY 29TH, 2025. WE HAVE RETURNED TO OPEN SESSION.
MOVING ON TO ITEM NUMBER 11. THE DPC BOARD MAY RECONVENE AN OPEN SESSION AND ACT ON ANY ITEM LISTED ON THE EXECUTIVE SESSION AGENDA IN ACCORDANCE WITH CHAPTER 551.
I'D LIKE TO READ INTO THE RECORD A RESOLUTION FOR AN ITEM LISTED IN EXECUTIVE SESSION. I ASKED FOR THE BOARD'S APPROVAL AND DISCUSSION, A RESOLUTION APPOINTING AARON
[00:20:04]
QUINTO AS GENERAL MANAGER, EFFECTIVE AS OF OCTOBER 1ST, 2025, AND OTHER MATTERS IN CONNECTION THEREWITH.WHEREAS THE BOARD OF DIRECTORS OF THE BOARD OF THE DALLAS PUBLIC FACILITIES CORPORATION, THE CORPORATION DESIRES TO APPOINT BY FORMAL WRITTEN RESOLUTION AARON QUINTO AS GENERAL MANAGER OF THE CORPORATION, EFFECTIVE AS OF AUGUST 1ST, 2025, AND CONFIRMED THE AUTHORITY OF ERIC AND AARON AQUINO TO EXECUTE ANY AND ALL DOCUMENTS AND TAKE ANY AND ALL ACTIONS AS SET FORTH IN THE CORPORATION'S BYLAWS, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE DALLAS PUBLIC FACILITIES CORPORATION THAT SECTION ONE THE APPOINTMENT OF AARON AQUINO AS GENERAL MANAGER OF THE CORPORATION, EFFECTIVE AS OF AUGUST 1ST, 2025, WITH THE AUTHORITY TO UNDERTAKE ACTIONS OF GENERAL MANAGER AS AUTHORIZED BY THE BOARD AND TO ACT AS AN OFFICER OF THE CORPORATION, INCLUDING THE AUTHORITY TO EXECUTE DOCUMENTS ON BEHALF OF THE CORPORATION AS GENERAL MANAGER, AND TAKE ANY AND ALL ACTIONS AS SET FORTH IN THE CORPORATION BYLAWS.
SECTION TWO OF RESOLUTIONS, OR PARTS THEREOF, WHICH ARE IN CONFLICT OR INCONSISTENT WITH ANY PROVISION OF THIS RESOLUTION, ARE HEREBY REPEALED TO THE EXTENT OF SUCH CONFLICT, AND THE PROVISIONS OF THIS RESOLUTION SHALL BE AND REMAIN CONTROLLING AS TO THE MATTERS RESOLVED HEREIN. SECTION THREE IF ANY PROVISION OF THIS RESOLUTION OR THE APPLICATION THEREOF.
ANY PERSON OR CIRCUMSTANCE SHALL BE HELD TO BE INVALID.
THE REMAINDER OF THIS RESOLUTION IN THE APPLICATION OF SUCH PROVISION TO OTHER PERSONS AND CIRCUMSTANCES, SO NEVERTHELESS BE VALID. AND THE BOARD HEREBY DECLARES THAT THE RESOLUTION WOULD HAVE BEEN ENACTED WITH WITHOUT SUCH INVALID PROVISION.
SECTION FIVE. THIS RESOLUTION SHALL BE ENFORCED IN AN EFFECTIVE FORM AFTER ITS PASSAGE.
RESOLUTION HAS BEEN MADE TO THE BOARD. I WANT YOU TO MOVE.
APPROVAL. MOTION MADE TO APPROVE BY DIRECTOR MARQUEZ.
SECOND, SECONDED BY DIRECTOR BLANKENSHIP. WE ARE NOW IN OPEN DISCUSSION OVER THE RESOLUTION.
JUST READ. DIRECTOR MONTGOMERY. SO THIS IS A THIS IS A GREAT OPPORTUNITY FOR THE PLC BOARD. AND I'M EXCITED ABOUT THIS.
BUT BEFORE WE GO ANY FURTHER THANK YOU. SAM. THANK YOU.
YOU HAVE DONE YEOMAN'S WORK. OVER THE LAST SEVERAL MONTHS.
AND HAS HAD TO KIND OF BE IN A SPOT THAT IS NOT ENVIABLE.
A LOT OF DIFFERENT INTERESTS COMING AT YOU. YOU'VE HAD MORE THAN ONE BOSS.
IT'S BEEN REALLY DIFFICULT, AND YOU'VE MANAGED IT VERY WELL.
SO THANK YOU. AND, SOPHIA, THANK YOU FOR YOUR HELP.
YOU'VE REALLY DOVE IN AND AND GAVE SAM SOME MUCH NEEDED SUPPORT HERE.
OVER THE LAST FEW MONTHS. SO THANK YOU TO THIS IS A HUGE STEP IN THE RIGHT DIRECTION.
AND THEN WHEN YOU CONSIDER THE FACT THAT THE HFC AND THE PFC ACCOUNT FOR OVER 75% OF THE AFFORDABLE HOUSING PRODUCTION IN THE CITY I THINK THIS ENHANCED COORDINATION IS GOING TO IS GOING TO HELP US.
IT ALSO GIVES US AN OPPORTUNITY TO SHARE BACK BEST PRACTICES WITH THE BROADER HOUSING ECOSYSTEM.
ALL OF THAT SHOULD RESULT IN ENHANCED HOUSING PRODUCTION.
THAT'S WHAT WE'RE ALL AFTER. SO I'M EXCITED ABOUT THIS BECAUSE I THINK STRUCTURALLY IT GIVES US THE OPPORTUNITY TO COORDINATE BETTER BETWEEN THE HFC AND THE CFC IN PARTICULAR. AND ALSO TO, TO MAKE SURE THAT THE FUNDS THAT ON THE PFC SIDE, WE'VE STARTED TO ACCUMULATE AND ON THE HFC SIDE, THEY HAVE IT HELPS US COORDINATE THE DEPLOYMENT OF THOSE RESOURCES IN A BETTER WAY.
SO I'M STOKED. SAM, THANK YOU. SO THANK YOU. AND THRILLED TO GET AARON GOING.
THANK YOU. OTHER COMMENTS FROM THE BOARD.
AS DO I. ANY FURTHER COMMENTS? MOTION HAS BEEN MADE AND SECONDED WITH NO OTHER FURTHER COMMENTS.
[00:25:03]
MR. MCDANIEL, WE MOVED FORWARD TO A ROLL CALL.VOTE, PLEASE. ABSOLUTELY. APPROVE. RYAN BLANKENSHIP, MR. MARQUEZ. HI. RICHARD TOLEDO. KEN MONTGOMERY. YES.
KEVIN WINTERS. YES. LAUREL STONE. YES. KEEP ON GOING.
AND ITEM NUMBER 11. MOVING ON TO ITEM NUMBER 12.
GIVEN WHAT WE JUST VOTED ON, I AM GOING TO DEFER THIS ITEM TO OUR NEXT BOARD MEETING WHENEVER WE HAVE A CHANCE TO SPEAK WITH THE THE CHAIR OF THE HFC ABOUT FURTHER FURTHER DETAILS.
ARE THERE ANY OTHER COMMENTS OR DISCUSSION ON THIS ITEM.
WE NEED TO. IF IT WAS A VOTING ITEM. HANNA. IT SAYS TO DO WE NEED TO HAVE A MOTION IN A SECOND ON ON DEFERRING VOTING ITEM JUST TO OUR BASIS. OKAY. MOTION TO DEFER. I HAVE A SECOND.
OKAY, PERFECT. JUST SO WE HAVE THE PAPERWORK IN ORDER HERE.
OKAY, SURE. MOVING ON TO ITEM NUMBER 13. OH. I'M SORRY.
ALL THOSE IN FAVOR OF DEFERRING ITEM 12 TO THE NEXT MEETING? SIGNIFY BY SAYING AYE. AYE AYE AYE. OPPOSED? SEEING NO OPPOSITION.
ITEM NUMBER 12 IS DEFERRED. ITEM NUMBER 13. DISCUSSION.
APPROVAL. THE FORMATION OF A REAL ESTATE COMMITTEE.
REVIEW PROJECTS BEFORE COMING TO THE FULL DFC BOARD FOR ADDITIONAL APPROVAL.
MISTER MCDANIEL. OKAY. THE REAL ESTATE COMMITTEE. IS SOMETHING THAT SOMEONE CAME UP WITH.
WE'VE SEEN EXECUTED IN OTHER IN OTHER PARKS AND AGENCIES ACROSS THE STATE WHERE SOMETHING DEVIATES FROM ITS STANDARD TERMS. IT WILL HAVE BEEN BOARD MEMBERS INVOLVED ON THE FRONT END OF NEGOTIATING PROJECTS BEFORE THEY MAKE IT TO THE BOARD. SO THERE'S NO CONFUSION AS TO WHY THINGS MAY HAVE HAPPENED.
AND AND WITH, YOU KNOW, POLICIES BEING UP IN THE AIR.
FEDERAL ISSUES, STATE ISSUES. WE MAY HAVE TO BE GETTING CREATIVE TO GET UNITS ON THE GROUND.
SO SUMMER HAD SUGGESTED PUTTING THIS IDEA IN FRONT OF YOU GUYS AS A BOARD.
SO I'M GOING TO LET SUMMER TELL YOU GUYS A LITTLE BIT ABOUT IT AND YOU CAN GO FROM THERE.
SO YEAH. SO THANKS, SAM. I THINK THAT WAS A REALLY GOOD OVERVIEW.
BASICALLY, I THINK THIS IS IT'S A GOOD OPPORTUNITY FOR THE BOARD TO DELEGATE SOME OF THE YOU KNOW, DEEP DIVE REVIEW ON PROJECTS TO A COMMITTEE THAT THEN, YOU KNOW, YOU CAN HAVE A COUPLE OF MEMBERS THAT CAN KIND OF TAKE THE LEAD, ALONG WITH BRAXTON AND MYSELF AND SAM, IN DISCUSSING, YOU KNOW, IF WE'VE DEVIATED FROM TERMS LIKE WE'VE HAD A COUPLE OF DEALS ON OUR LAST TWO MEETINGS WHERE, YOU KNOW, YOU'RE NOT FOR FOR A VERY LONG TIME, I THINK THE PFC WAS, WAS LOOKING AT KIND OF DEALS THAT WERE PRETTY SIMILAR TO EACH OTHER AND STICKING TO TERMS THAT WERE ALL VERY SIMILAR.
AND NOW THAT WE'RE GETTING INTO, TO A LITTLE BIT OF A DIFFERENT ECONOMIC CLIMATE WHERE DEALS ARE HARDER TO DO, AND YOU GUYS ARE LOOKING AT DOING PROJECTS THAT HAVE A GREATER COMMUNITY IMPACT, LIKE SOME OF THE ONES THAT OFFER MORE DEEP AFFORDABILITY.
THERE'S THE INITIAL LOOK WITH THE REAL ESTATE COMMITTEE CAN ASK QUESTIONS.
IT CAN GIVE US THE OPPORTUNITY TO FIND ANSWERS OUT AHEAD OF TIME FROM THE DEVELOPERS.
I THINK ALSO, ONE OF THE OTHER THINGS THAT COULD BE HELPFUL IS HAVING THE REAL ESTATE COMMITTEE BE CHARGED WITH HAVING A DISCUSSION WITH THE CITY COUNCIL, WITH THE THE BOARD MEMBER FROM THE CITY COUNCIL DISTRICT WHERE THE PROJECT IS LOCATED,
[00:30:02]
TO MAKE SURE THAT YOU KNOW, THAT THERE'S SUPPORT FROM FROM THAT, THAT AREA OF TOWN.SO I THINK THAT'S ANOTHER POTENTIAL PLACE FOR THIS COMMITTEE TO DO SOME ADDITIONAL KIND OF GROUNDWORK BEFORE WE COME TO THE BOARD AND THEN HAVE, AGAIN, THE SAME DISCUSSIONS WE'VE BEEN HAVING.
THIS ISN'T TAKING ANY POWER AWAY FROM THE BOARD OR IT DOESN'T.
AND THEN WE COULD COME TO THE BOARD AND THEN HAVE THE DISCUSSION IN OPEN SESSION.
SO THAT'S REALLY THE REASON BEHIND IT. MOST OF MY PFC, HFC HOUSING AUTHORITY CLIENTS HAVE SOME VERSION OF THIS WHETHER IT'S DONE WITH THE WHOLE BOARD. I HAVE A HOUSING AUTHORITY THAT HAS ESSENTIALLY HAVE KIND OF TWO BOARD MEETINGS EVERY MONTH.
THEY HAVE ONE THAT'S THEIR COMMITTEE MEETING, AND THEN ONE THAT'S THEIR ACTUAL BOARD MEETING.
THAT SEEMS PRETTY CUMBERSOME. AND A LOT OF TIME FROM, FROM THE BOARD MEMBERS, MOST OF MY OTHER ONES, IT'S, YOU KNOW, 3A3 MEMBER, FOUR MEMBER COMMITTEE, DEPENDING ON THE SIZE OF THE BOARD.
OBVIOUSLY, WE CAN'T HAVE TOO MANY FOLKS. WHERE THERE'S A QUORUM BECAUSE THAT THAT CAUSES A PROBLEM.
BUT ANYWAYS, I THINK IT'S IT'S INCREASED EFFICIENCY.
SO THAT'S THAT'S WHY WE STARTED HAVING THE CONVERSATION.
I STARTED HAVING THE CONVERSATION WITH SAM ABOUT THIS.
OKAY. VERY GOOD. WE HAVE DISCUSSION ON THE ITEM.
YEAH. YES. SO I THINK WHAT THIS REALLY IS GOING TO HELP US DO WHO IS.
SO IT'S IN THE BOARD PACKET ON FRIDAY, AND WE HAVE 2 OR 3 DAYS TO KIND OF UNPACK IT.
AND SOME OF THOSE ARE JUST MORE COMPLICATED THAN THAT.
AND SO THIS IS AN ANSWER TO THAT. IT WILL ALLOW US TO WORK THROUGH, YOU KNOW, A SMALLER GROUP GROUP TO KIND OF WORK THROUGH SOME OF THE THINGS THAT THAT POP UP THAT ARE UNIQUE. AND THEN AND THEN PRESENT IT TO THE BOARD AND I THINK WE'LL BE ABLE TO HAVE BETTER DISCUSSION BECAUSE SOMEBODY KIND OF DUG INTO IT. SO, YEAH, IT'S I THINK THIS WILL ADVANCE OUR PROCESS QUITE A BIT, AND IT ONLY ADDS A COUPLE WEEKS MAYBE TO HAVE THE REAL ESTATE MEETINGS. SO ARE WE SAYING THAT THE REAL ESTATE COMMITTEE WOULD HAVE TO APPROVE ALL PROJECT BEFORE IT COMES TO THE BOARD. OH, OKAY.
IT'S NOT AN APPROVAL SO MUCH. EVERYONE'S KIND OF GETTING IN THERE AND HAMMERING SOMETHING OUT.
YEAH. AND A DEVELOPER WOULD SAY, LIKE, THIS IS THE BEST THING THAT WE CAN DO.
I LIKE THIS IDEA. SO A COUPLE QUESTIONS. I LIKE IT A LOT, ACTUALLY.
A COUPLE QUESTIONS TO MAKE SURE THAT I'M UNDERSTANDING.
SO THE DEVELOPER COULD BRING A DEAL AND HE LOOKS AT IT, SAY TWO DIFFERENT DEVELOPERS.
IF THIS IS A GESTURE THAT IS ADJUSTED THAT DEVELOPER DOES.
RIGHT. AND THEY'RE GOING TO AND THEN THEY WANT TO BRING IT BEFORE PSC IN THAT ADJUSTED FORMAT.
THE OTHER SAME DISCUSSION. YOU KNOW, THAT DEVELOPER SAYS RESPECT WHAT YOU'RE SAYING, BUT I, YOU KNOW, WE CAN'T DO WHAT YOU'RE ASKING US TO DO.
THAT MAY BE BEST FOR PSC, BUT THAT IS NOT IT'S NOT GOOD FOR US.
AND SO THEY WANT TO BRING IT BEFORE THE BEFORE THE BOARD AND THE FORM THAT IT WAS ALREADY IN.
SO THE COMMITTEE WOULD NOT BE APPROVING EITHER.
AND ONCE IT GETS HERE, THE ONE WHO MADE THE CHANGES PROBABLY HASN'T HAD A CHANCE OF.
THEN THEY MAY HEAR SOME OF THAT SAME FEEDBACK.
[00:35:03]
YEAH. AT THE BOARD, IF I UNDERSTAND THAT CORRECTLY.SO SUMMARIZE THAT FAIR DESCRIPTION. YOU THINK OF WHAT YOU'VE SEEN IN OTHER WORDS.
YEAH. I MEAN, THERE'S THERE'S ANY NUMBER OF WAYS FOR YOU GUYS TO UTILIZE THIS.
IT'S IT'S NOT THERE'S YOU DON'T HAVE TO DO IT A CERTAIN WAY.
RIGHT. YOU CERTAINLY WE COULD DO IT THE WAY THAT THAT WAS JUST DESCRIBED IN TERMS OF IT WOULD BE AN OPPORTUNITY FOR BOARD MEMBERS, THE COMMITTEE MEMBERS, TO SAY WE HAD THESE DISCUSSIONS.
YOU KNOW, DEVELOPER A MADE THESE CHANGES AND WE FEEL REALLY GOOD ABOUT THIS DEAL.
THERE'S NOTHING WRONG WITH THAT, BUT IT JUST GIVES A LITTLE MORE COLOR TO THE NEGOTIATION.
OR ALTERNATIVELY, I DO HAVE SOME COMMITTEES THAT THAT COMMITTEE APPROVES THE DEAL TO MOVE FORWARD.
SO IT'S KIND OF A GATING EATING A GATING ITEM THAT DEALS DON'T.
IF THE REAL ESTATE COMMITTEE DOESN'T WANT TO MOVE FORWARD WITH IT, THEN IT DOESN'T.
AND THAT THAT'S OBVIOUSLY DELEGATING A LITTLE BIT MORE AUTHORITY TO THAT COMMITTEE AS A GATEKEEPER TO, TO, YOU KNOW, DETERMINING WHICH DEALS ACTUALLY APPEAR BEFORE THE ENTIRE BOARD. BUT THERE'S NO REASON THAT YOU HAVE TO DO EITHER ONE.
IT'S REALLY IT'S WAY UP TO YOU GUYS. I WONDER IF IT'S IF THIS FIRST ITERATION THERE WASN'T APPROVAL, LIKE, AND THAT'S KIND OF WHAT'S IN THE AGENDA ITEM.
JUST REVIEW. AND THEN IF WE WANTED TO REVISIT IT AND MAKE AN APPROVAL WE CAN DO THAT LATER.
YEAH. AND WE BECAUSE I DON'T LIKE THE IDEA OF APPROVAL AT THIS POINT.
AT THIS POINT, I DON'T LIKE THE IDEA OF APPROVAL BECAUSE BECAUSE EVERYBODY NOMINATED THIS BOARD WAS NOMINATED TO APPROVE OR DISAPPROVE PROJECT. SO I DON'T WANT TO. NOT THAT THE MODEL THAT THAT SUMMER SUBSCRIBED WOULD DISENFRANCHIZE ANY, BUT I WILL. WHAT YOU'RE SAYING I WOULD WANT TO RUN THE COMMITTEE FOR A WHILE, TWEAK IT HOWEVER WE SEE IT NEEDS TO BE TWEAKED, AND IF AT SOME POINT IT MAKES SENSE TO DO TO GIVE THAT COMMITTEE TIME TO APPROVE THE.
YEAH, I DON'T THINK I'D BE COMFORTABLE WITH WITH WITH A PROJECT THAT'S IN SOMEONE'S DISTRICT AND THEN NOT HAVING INPUT INTO WHETHER OR NOT, YOU KNOW, BECAUSE THAT'S WHO KNOWS MORE THAN KRISTEN KNOWS MORE ABOUT D6 AND I CAN.
YEAH. EVER I'LL EVER COME UP. SO YEAH. YEAH, I'M WITH YOU ON THAT.
IF I COULD INTERJECT, SUMMER WAS WAS. YOUR SUGGESTION IS, I GUESS I SHALL READ THE THE RESOLUTION THAT WAS SUBMITTED WITH THE BOARD PACKET.
NO, THAT THAT WAS ACTUALLY THAT WAS FOR THE PRIOR ITEM.
SO ON THIS ONE, I DON'T BELIEVE THAT YOU NEED TO READ THE RESOLUTION.
YOU WOULD YOU CAN IF YOU'RE WANTING TO YOU KNOW, TO ASK FOR A MOTION, IT WOULD BE A MOTION TO APPROVE AND JUST CAPTION JUST THE PART THAT'S IN CAPITAL BOLD. CORRECT. THE WINNERS OF THE QUESTION.
YEAH. I'M GOING TO GO. OKAY. I'M LOOKING AT A FULL PAGE RESOLUTION INSIDE THE BOARD PACKET.
BUT IS THAT NOT INTENDED TO BE PART OF THE DISCUSSION? ARE WE RIGHT NOW? JUST I MEAN, YOU DON'T I GUESS WHAT I'M SAYING IS YOU DON'T NECESSARILY HAVE TO READ THE FULL RESOLUTION INTO THE RECORD.
THE THE RESOLUTION WAS PROVIDED. TO THE TO THE MEMBERS.
OKAY. BECAUSE ACTUALLY THE WHAT I WOULD LIKE TO DO THEN IS WE'LL READ IT WE'LL TAKE A VOTE ON IT, AND THEN WE'LL SOLICIT PEOPLE WHO WOULD LIKE TO SERVE ON THAT COMMITTEE MEMBERS OR APPROVE OF THE NEXT MEETING. SO JUST KIND OF GO BACK LIKE I, I AGREE, LIKE, I DON'T THINK THE THE APPROVAL IS NECESSARILY WHAT WE WANT OUT OF THIS COMMITTEE. WHAT BUT WHAT I, I'M HOPING TO GET OUT OF IT IS I'M SURE WE ALL FEEL THE SAME FRUSTRATION WHEN A DEVELOPER COMES IN HERE, PICTURES THEIR WHOLE SPIEL AND THERE'S LIKE 2 OR 3 THINGS IN THERE THAT WE'RE LIKE, OH, CAN YOU GO BACK TO THE DRAWING BOARD? AND NEXT, YOU KNOW, IT'S A MONTH, IT'S A TWO MONTHS LATER AND THE PROJECT IS NOW DELAYED AND DELAYED AND DELAYED.
[00:40:01]
SO WHEN THEY COME IN AND WE SAY, OKAY, AND MAYBE THEY DON'T CHANGE IT LIKE WE SAID, BUT, YOU KNOW, AT LEAST THE REST OF THE BOARD CAN KNOW, LIKE, OH, THE COMMITTEE TALKED TO ME ABOUT THIS. THIS IS WHY THEY CAN'T CHANGE IT. THIS IS WHY THEY CAN. THAT WAY WE CAN HOPEFULLY SMOOTH THOSE OPERATIONS AND MAKE IT MORE EFFICIENT.YEAH. AND THEN EVEN TO YOUR POINT, I WOULD IMAGINE THAT IN OUR DISCUSSION, AFTER THE DEVELOPER GIVES A PITCH, YOU COULD ASK I WHEN I WOULD, IT'S LIKE, OKAY, WHAT WOULD SOME OF THE COMMITTEE STARTS ON THIS DEAL? YOU KNOW, AT THE FRONT END OF THAT DISCUSSION? BECAUSE THEY, THEY SPENT SOME TIME DIVING DEEPER INTO THIS.
AND WHEREAS MAYBE SOMEBODY ELSE, LIKE YOU SAID, ONLY HAD IT 2 OR 3 DAYS.
RIGHT. SO I, I CAN'T, I, I THINK THE COMMITTEE THEY THINK, IS AN EXCELLENT IDEA.
IS THERE ANY CONCERN ABOUT DEVELOPERS BEING IN CONTACT WITH THE COMMITTEE BEFORE A BOARD VOTE? I THINK WE'VE HAD TO BE CAREFUL WITH IN THE PAST.
I WOULDN'T BRING THAT UP BECAUSE I THINK AT THIS POINT WE DON'T EVEN HAVE A BREEDING MODEL AT THAT POINT, RIGHT? THEY HIT THESE BUCKETS. THEY WOULD AUTOMATICALLY MAKE IT TO THIS FINAL STAGE. THAT'S IT. I WOULD THINK THAT IF THE RELEVANT JOB TO DO THE RESEARCH ON WHAT WE LIKE, WHAT WE NEED, AND YOU ALREADY THINK THAT COMMITTEE ENGAGEMENT, RIGHT? YOU KNOW, WHO AM I. AND WHAT CAN THEY DO AT THAT POINT? YOU'RE DOING THE JOB FOR THEM AT THAT POINT AND YOU CAN BECOME BETTER.
RIGHT. AND I THINK THAT'S WHERE WE HAVE TO KIND OF PAY THAT FINE LINE.
YEAH. WELL, THOSE THINGS ARE USUALLY DATED BEFORE THEY REACH THE BOARD HILLTOP OR THROUGH SAND.
BEEN A LITTLE WHILE. TWO YEARS AGO THAT WHEN I CAME ON, WE WERE STARTING TO REVAMP IT A LITTLE BIT.
CRAZY BUSY. BUT THERE IS KIND OF A CHECKLIST THAT IN THE APPLICATION THAT KIND OF DOES HELP US WRAP OUR HEADS AROUND ABOUT WHICH BOX IS EACH PROJECT. I MEAN, START PUTTING THAT IN WITH DOCUMENTS, BUT WE'LL WANT TO UPDATE IT FIRST.
BEFORE AND OF COURSE. SO MY QUESTION TO YOU, TO THE BOARD IS WHAT THINGS ARE WE SEEING THAT HESITATE TO DELAY THAT YOU WOULD HAVE TO GO TO THE REAL ESTATE COMMITTEE JUST BECAUSE FOR ME, FROM JUST THE AGENDA ITEM I SEE IT'S JUST DISCUSSING APPROVING A SPECIFIC ITEM.
WE'RE SEEING A WHOLE LOT OFTEN OR IT'S JUST, YOU KNOW, A COUPLE OF THINGS THAT PUSH IT BACK TO THREE MONTHS. I WOULD VENTURE TO SAY THAT EVERY PROJECT'S A LITTLE BIT DIFFERENT, AND THAT'S THE VALUE OF THE REAL ESTATE THING IS YOU'RE FIGURING THAT OUT.
LIKE THAT GROUP IS FIGURING OUT WHAT'S THE REAL DEAL POINTS WE NEED TO TALK ABOUT IN HERE, YOU KNOW? AS AN EXAMPLE, AND THIS IS ONE THAT KIND OF BOUNCED AROUND IN MY HEAD.
IT'S 30% UNITS. WELL, THAT TURNED OUT TO BE A DEAL BREAKER FOR THEM.
THAT'S A CONVERSATION THAT A REAL ESTATE COMMITTEE COULD HAVE HAD, YOU KNOW, AND IT WOULD HAVE EITHER THEY WOULD HAVE COME BACK WITH A BETTER PRODUCT OR WE THEY WOULD HAVE KNOWN THEN, YOU KNOW, THAT'S NOT SOMETHING OR TO TO SOMEONE EARLIER.
I THINK YOU KNOW, PROBABLY THE MOST COMPLEX DEAL WE HAD WAS THE SYCAMORE STRATEGIES PROJECT AND PROJECT FORCE AND SET FORTH IN 75 OR SO AT FORCE AND 75. THAT WOULD HAVE BEEN A NICE ONE TO HAVE A COMMITTEE SORT OF HACK AT FOR A LITTLE BIT YOU KNOW, AND START TO UNDERSTAND, KNOW ALL THE NUANCES, IDIOSYNCRASIES OF A DEED RESTRICTION THAT DOES ALLOW HOUSING NEXT DOOR AND STUFF LIKE THAT. SO I THINK, YOU KNOW, THE AND EVEN THE DEALS WE TALKED ABOUT TODAY, LIKE THE OAK HOUSE PHASE TWO, THAT WAS THE THOSE THOSE TERMS WERE CHANGING AND BECAUSE OF HOW THEY WERE GETTING THEIR EQUITY AND WHERE, YOU KNOW, THERE'S NOT A LOT OF EQUITY OUT THERE. AND SO THOSE TERMS ARE CHANGING.
AND THAT'S WHAT THE THAT THAT TO ME WOULD BE.
THE VALUE IS LIKE THE REAL ESTATE COMMITTEE FIGURES OUT.
AND JUST TO ADD TO THAT POINT, ONE OF THE POINT ONE OF THE MAIN THINGS THAT WE'RE SEEING NOW WITH THE BOARD'S ESTABLISHED GOAL OF DEEPER AFFORDABILITY IS SOME 50% UNITS OR MORE UNITS AT 66. NATURE.
SO WITH THAT, WE CAN KIND OF NEGOTIATE THE GROUND.
[00:45:02]
AND IF YOU CAN'T DO IT FOR FREE. RIGHT. ESPECIALLY FOR GOOD.BUT FIGURING OUT THOSE CALCULATIONS AND YOU KNOW, HAVING A FEW BOARD MEMBERS INVOLVED SAYING LIKE, NO, THIS IS AN AREA THAT WOULD REALLY BENEFIT FROM HAVING SOME 30S AS OPPOSED TO SOME 50S BECAUSE YOU JUST CAN'T GET DIRTY IN THAT AREA.
AND THEN THOSE INVOLVED ON THE FRONT END OF HAMMERING, HAMMERING OUT THE TERMS SURROUNDING THOSE.
VERY GOOD. SO. YES, SIR. LASTLY, TO KIND OF SPEAK TO WHAT THE MARKET IS ASKING.
I KNOW SPEAKING FOR MYSELF, IT WAS A IT WAS A DEAL, I THINK.
I THINK LAST MEETING I FORGET THE NAME OF IT, BUT THERE WAS ONE LAST MEETING THAT, YOU KNOW, I VOTED NO ON, BUT PRIMARILY IT'S BECAUSE OF HOW COMPLEX THE DEAL WAS.
I DIDN'T FEEL COMFORTABLE WHAT THEY WERE DOING.
AND HAD I HAD MORE TIME. RIGHT. SO IF WE HAD KICKED IT BACK OR THERE WAS A COMMITTEE THAT ALREADY LOOKED AT THIS, AND THEN I WAS ABLE TO SAY, HEY, LOOK, THIS LOOKS WEIRD.
BUT WHAT THIS MEANS IS THIS. AND THIS IS WHY THESE NUMBERS WORK.
THEY'RE THEN I. THEN, LIKE, EVEN LOOKING BACK ON IT, I'M LIKE, OKAY, I'M GOOD WITH IT.
YES, ON THAT. BUT I WANT TO KNOW AT THE TIME I'M NOT COMFORTABLE.
YEAH. YOU KNOW, AND THAT'S WHERE MANY WOULD HAVE FELT THAT.
WELL. AND AND YOU WOULD HAVE GOTTEN IT SOONER TOO, BECAUSE EVEN IN THAT SITUATION YOU CAN GET AT LEAST GET THE DEALS, THE, THE PROJECTS THAT ARE PRESENTED. YOU CAN AT LEAST GET THE DEAL TERMS, BECAUSE THOSE HAVE TO BE PAID BY THE TIME THEY GO TO THEIR REAL ESTATE COMMITTEE.
YEAH. SO IT IT ACTUALLY HELPS SOLVE THAT PROBLEM YOU'RE DESCRIBING BECAUSE THAT'S BEEN A PROBLEM.
AND IT'S NOBODY'S FAULT. IT'S JUST IT'S IT'S TIMING.
IT'S A LOT OF DIFFERENT THINGS. RIGHT. AND BUT THIS WOULD HELP SOLVE IT IN A COUPLE OF WAYS.
YEAH. BUT THE RESOLUTION DOESN'T SAY THAT A DEAL HAS TO GO TO THE DEAL.
STAY COMMITTED. SO THERE'S STILL COULD BE A LAST MINUTE DEALS THAT COME UP.
YES. YES. NO. BUT WE'VE BEEN AFTER LOTS OF THOUGHTFUL FEEDBACK FROM THE BOARDS ABOUT RUSHING TO THE TABLE. WE AND SUPPORT FROM BOTH SOMMER AND BRAXTON ABOUT TIMING.
WE'VE BEEN ASKED TO GET AT LEAST 30 DAYS BEFORE, SO I'VE BEEN PUTTING PEOPLE OFF YOU KNOW, ON ON, I APPRECIATE IT. YEAH. SO I APPRECIATE IT'S CREATING MORE WORK FOR MYSELF, TOO.
BUT I GUESS WE CAN LET IT LET THAT COMMITTEE, YOU KNOW.
PERHAPS THEY MIGHT NEED TO SET SOME STANDARDS, AND THEN THEY COULD BRING IT TO US FOR REVIEW AND A FURTHER AMENDMENT OF OF THIS, OF THIS RESOLUTION, INSOFAR AS IF WE BELIEVE SOMEONE SHOULD HAVE TO BRING IT TO THE REAL ESTATE COMMITTEE BEFORE THEY SEE US. NOW, IF THE REAL ESTATE COMMITTEE HAS TO HAVE A SPECIAL MEETING, YOU KNOW, TWO DAYS BEFORE OUR REGULAR MEETING, YOU KNOW, THEN SO BE IT.
BUT THAT MIGHT BE SOMETHING TO BE ENTERTAINED BY THE REAL ESTATE COMMITTEE.
I THINK IT WOULD BE A GOOD IDEA TO HAVE SOME FREE BETTING BY AT LEAST A FEW MEMBERS OF THE BOARD.
SO I AGREE WITH YOU ON THAT. AS IT STANDS NOW, THAT'S NOT A REQUIREMENT.
OKAY. OKAY, GOOD. I HAVE SOME QUESTIONS REAL QUICK.
YES. SUMMER ON THE RESOLUTION, I THINK IT HAS THREE SPOTS FOR FOR THREE MEMBERS.
IS THAT SOMETHING YOU SEE IN OTHER AREAS AND IS BECAUSE MOST OF OUR COMMITTEES ARE FINE PEOPLE.
JUST JUST A PLACEHOLDER IN THE RESOLUTION. THAT'S IT.
SO IF WE WANT IF YOU GUYS WANT TO DO FIVE, YOU WANT TO DO? THREE. IF YOU WANT TO DO. FOUR. IT DOESN'T MATTER.
JUST LITERALLY PLACEHOLDER. WHAT WOULD FOUR PLUS BE LIKE? LIKE AN OPENING. BECAUSE FIVE HAS FIVE AND 3 OR 4.
WE HAD FOUR. AND THEN A FLOATING NUMBER, DEPENDING ON THE DISTRICT WHOSE PROJECT THE DIRECTOR IS IN.
[00:50:05]
IS THAT SOMETHING THAT WOULD BE TROUBLESOME? OR IS THAT SO THAT, YOU KNOW, WE CAN OFFER THE DIRECTORS DISTRICT.THESE PROJECTS ARE IN THE OPPORTUNITY TO SEE THEM ON THE FRONT END AS WELL.
IS THAT SOMETHING THAT YOU'VE SEEN DONE IN THE PAST OR WOULD CAUSE ANY TYPE OF ISSUES? I'VE NOT SEEN IT DONE BEFORE. I DON'T SEE WHY.
FROM A FROM A GOVERNANCE STANDPOINT, WHY WE WOULD HAVE AN ISSUE IF WE JUST, YOU KNOW, WERE TO INDICATE THAT THAT MEMBER WOULD CHANGE DEPENDING UPON THE PROJECT? I DON'T THINK I DON'T THINK THAT THAT CAUSES US ANY ISSUES.
MAYBE THIS IS POSITIVE OR YOU MAY HAVE SPECIAL GUESTS ANYWAY, THAT SPECIAL GUEST ANYWAYS.
BUT IF THERE'S FIVE BOARD MEMBERS OF THESE JOBS, THEN AND NONE OF THEM ARE IN THAT DISTRICT, WE WANT TO GET BACK DISTRICTS MEANING THAT THEY BRING THEM IN FOR THEM.
YEAH. OKAY. YEAH. THAT'S RIGHT. I MEAN, I THINK WHAT I THINK, SAM, I THINK THE WAY TO MANAGE IT IS TO HAVE FOUR, FOUR COMMITTEE MEMBERS, AND THEN YOU JUST HAVE, AGAIN, KIND OF LIKE A SPECIAL GUEST OR A AN INVITEE, BEING THE PERSON WHOSE DISTRICT IS THEN. I DON'T KNOW THAT WE NECESSARILY NEED TO HAVE THAT SPACE DESIGNATED AS A.
WELL, AS A COMMITTEE MEMBER. THAT'S SO WE CAN MOVE THIS ALONG.
WE HAVE ANY INITIAL VOLUNTEERS FOR THIS COMMITTEE.
I THANK MR. BLANKENSHIP. DIRECTOR BLANKENSHIP, I AGREE.
I AGREE. I DON'T KNOW, I'M ASKING, OR WE CAN WAIT UNTIL NEXT MONTH.
OH, YEAH. OKAY. DID YOU HAVE YOU. KNOW AT THE MOMENT SOMETHING BECAUSE I KIND OF, YOU KNOW, GET IT FROM OTHER COMMITTEES WITHIN THE BOARD TRYING TO SEE.
OH, SHE'S DONE SOME OF THIS STUFF. DO WE HAVE ANY OTHER INITIAL VOLUNTEERS? DIRECTOR MONTGOMERY. YOU KNOW, I'M GOING TO STICK MY NOSE IN THAT.
DIRECTORS BLANKENSHIP AND MONTGOMERY. AND TWO AND TWO TO BE DETERMINED.
SO OFTEN DO THEY NEED TO FIGURE THAT OUT? YES.
THAT'S CORRECT. THAT'S TO BE DETERMINED.
DIRECTOR MARK HAS JUST VOLUNTEERED ONE. SO WE HAVE WE HAVE THREE OF THE FOUR POSSIBILITIES.
VERY GOOD. SO IF WE HAVE ANY, DO WE HAVE ANY FURTHER DISCUSSION ON THIS ITEM? ITEM NUMBER 13, THE RESOLUTION AUTHORIZING AND APPROVING THE CREATION OF A REAL ESTATE COMMITTEE AND OTHER MATTERS IN CONNECTION THEREWITH, INCLUDING THE INITIAL APPOINTMENTS OF DIRECTORS BLANKENSHIP, MONTGOMERY AND MARQUEZ, WITH A FOURTH PLACE SPOT.
TO BE. TO BE DETERMINED. SO MOVED. MOVED BY DIRECTOR MONTGOMERY.
DO WE HAVE A SECOND? SECOND. SECONDED BY DIRECTOR BLANKENSHIP.
MOVED TO A ROLL CALL. VOTE, PLEASE. ALL RIGHT.
RONALD. STENSON. BLANKENSHIP. CRISTIAN MARQUEZ, A TOLEDO, RIGHT.
KEN MONTGOMERY. YES. EVAN WINTERS. YES. LAUREL STONE.
DO WE HAVE YOU ON STILL? OKAY.
KEITH. YES. LET THE RECORD REFLECT THAT ITEM NUMBER.
13 WAS APPROVED 7 TO 0. MOVING ON TO ITEM NUMBER 14.
BRIEFING AND DISCUSSION ABOUT DFC. GOVERNANCE COMMITTEE.
DRAFT OF A POLICY STATEMENT REGARDING ADMINISTRATION, PROJECT REQUIREMENTS, GOVERNANCE AND OPERATIONS AS PROPOSED IN THE PROPOSED DALLAS HOUSING FINANCE CORPORATION AND DALLAS PUBLIC FACILITIES CORPORATION PROGRAM STATEMENTS MEMORANDUM AT THE APRIL 22ND HOUSING AND HOMELESSNESS SOLUTIONS COMMITTEE.
DIRECTOR MONTGOMERY. SO I'LL BE WORKING ON THIS.
[00:55:06]
THE YOU ALL RECALL LAST TIME WE TALKED ABOUT THE PROGRAM STATEMENT AND THE PURPOSE OF THAT IS TO IDENTIFY TO HELP HOUSING IDENTIFY EXACTLY WHAT WE DO, WHAT OUR GOALS ARE, YOU KNOW, ELIGIBILITY, APPLICATION PROCESS, ALL THE KIND OF THE BASICS. AND WE THE GOVERNANCE COMMITTEE LOOKED AT A DRAFT THE LAST TIME THAT WE MET BEFORE OUR TWO MEETING. AND THE IDEA WAS TO HAVE THAT CONVERSATION OF THE FULL BOARD ONCE WE GOT TO A A RECOMMENDED PROGRAM STATEMENT. WHAT'S WHAT'S ALSO HAPPENING AT THE SAME TIME IS WE'RE TRYING TO COORDINATE WITH THE CITY AND MAKE SURE WE ADDRESS CONCERNS OF THE CITY STAFF IN PARTICULAR. AND IN DOING THAT THERE THERE HASN'T BEEN A LOT OF RECONCILIATION FROM THE, THE PROGRAM STATEMENT THAT WE PRODUCED AND WHAT CITY STAFF HAS PRODUCED.WE WANT TO BE GOOD PARTNERS. AND WE WANT TO MAKE SURE THAT WE TAKE INTO ACCOUNT SOME OF THE CONCERNS THAT AND SOME OF THE GOALS THAT THESE STAFF HAVE TO SO THIS THIS PROBABLY WILL GET PUNTED IN AUGUST.
I DON'T KNOW THAT WE'LL HAVE AN AGENDA ITEM ON IT AGAIN, BUT WE I WOULD EXPECT TO COME BACK TO THIS, THIS BOARD BEFORE THE END OF THE YEAR, CERTAINLY, IF NOT SOONER WITH A FINAL PROGRAM STATEMENT.
AT THIS POINT, WE JUST NEED TO RECONCILE WITH CITY STAFF.
AND THAT'S GOING TO PROBABLY TAKE A MINUTE. BUT WE'RE WORKING REALLY HARD TO DO THAT.
NONE OF OUR PROJECTS HAVE BEEN ANYTHING OTHER THAN NEW CONSTRUCTION.
AND THERE'S A DISCONNECT BETWEEN. AND THAT'S THE MAIN DISCONNECT BETWEEN OUR PROGRAM STATEMENT PROGRAM STATEMENT IS THE FACT THAT WE DO ALMOST ALL NEW CONSTRUCTION ON VACANT LAND. AND THAT'S VERY DIFFERENT THAN A BIG TECH DEAL.
AND SO WE'VE GOT TO GET THERE AND YOU KNOW, WE'RE WE'RE IN THE PROCESS OF HELPING TO EDUCATE CITY STAFF ON THE DIFFERENCES AND THE PROGRAMS. AND SO WE'LL WE'LL CONTINUE TO WORK THERE TO GET SOMETHING THAT, THAT IS GOOD FOR EVERYBODY.
AND I BELIEVE IN THESE PROCESSES. BUT SOMETIMES THEY'RE, THEY'RE PAINFUL.
THIS IS ONE OF THOSE TIMES. BUT THAT'S WHERE WE ARE.
AS WE GO ALONG, IF YOU EVER HAVE ANY FEEDBACK FEEL FREE TO TO REACH OUT.
AND SHARE IT. I'M ALWAYS LOOKING FOR FEEDBACK.
AND YEAH. SO THAT'S WHERE WE ARE. AND THANK YOU, DIRECTOR MCNAMARA.
I DID WANT TO ADD TO THAT. DIRECTOR MONTGOMERY MYSELF.
WE DIDN'T MEET WITH A LACK OF A BETTER WORD. AN AD HOC COMMITTEE WITH MEMBERS OF THE HFC AND CITY STAFF THAT I AND I MADE CLEAR IN THAT COMMITTEE MEETING, AND I WANTED TO MAKE THIS ON PUBLIC RECORD THAT ANY CHANGE IN POLICY THAT THE HOUSING STAFF IS WORKING ON.
JUST AS A FRIENDLY REMINDER, PLEASE BRING IT TO THE DALLAS PUBLIC FACILITIES CORPORATION BOARD OF DIRECTORS BEFORE IT GOES TO THE HHS. THIS WOULD BE AND THIS IS IN COMPLIANCE WITH STATEMENTS SENT BY SEVERAL CITY COUNCIL MEMBERS TO THE HHS. IT WAS JUST A WAY TO CONTINUE TO COLLABORATE AND COMMUNICATE.
AS OUR CITY MANAGER SAYS, IN A FRIENDLY MANNER, LET'S JUST MAKE SURE THAT WE ALL STAY ON THE SAME PAGE AND, YOU KNOW, GIVE US THE RESPECT TO BRING YOUR IDEAS TO US, THE BOARD THAT IT AFFECTS.
BEFORE YOU GO TO CITY COUNCIL. AND I CAN TELL YOU WHAT, WE COULD PROBABLY SAVE THE HHS A LOT OF TIME AND DISCUSSION, JUST LIKE WE DOING OTHER THINGS. IF WE HASH IT OUT HERE FIRST BECAUSE IT'S GOING TO HAVE TO COME BACK TO US ANYWAY.
AND SO THAT THAT JUST WAS A A STATEMENT, KIND STATEMENT TO OUR OUR TEAM MEMBERS ON HOUSING STAFF. AND SO I BELIEVE I BELIEVE THAT WILL COME TO FRUITION.
BUT I JUST WANTED TO MAKE SURE THAT THAT REMINDER WAS IN THE RECORD.
[01:00:02]
ANY OTHER COMMENTS? DO YOU AGREE WITH THAT? NO.YEAH. WELL THANK YOU. MOVING ON TO ITEM NUMBER 15, BRIEFING AND DISCUSSION ON THE PROGRESS OF THE DPS COMMUNITY OUTREACH COMMITTEE HAS MADE WITH THE DPS FC WEBSITE AND LINKEDIN PAGE.
WE MET WITH THE COMMITTEE LAST WEEK AND WENT OVER THE WEBSITE, WHICH IS BASICALLY THE WE'RE STILL WAITING ON 1 OR 2 THINGS ONE OF WHICH IS BIOS FOR THE BOARD MEMBERS.
WE CAN HAVE A LITTLE BREAKDOWN ON OUR WEBSITE OF WHO YOU GUYS ARE.
AND ADDITIONALLY, WE'RE GOING TO USE THE BUTTON ON ON OUR LINKEDIN PAGE.
WE'RE GOING TO TRY TO GET TO A POINT WHERE WE CAN START POSTING REGULARLY ON LINKEDIN AND THINGS WITH INTRODUCTORY, YOU KNOW, INTRODUCTIONS FROM THE BOARD MEMBER OR TO THE GENERAL PUBLIC OF THE BOARD MEMBERS.
SO YOU KNOW, THOSE BOARD MEMBERS WHO WOULD BE WILLING TO BE FEATURED ON THE PAGE OF THE, YOU KNOW, AGREE WITH YOU GUYS ON THAT? ADDITIONALLY, IF YOU GUYS COULD FOLLOW THE PAGE.
YEAH. IF YOU DON'T ALREADY, THAT'D BE HELPFUL.
BUT YEAH. YOU'RE MISSING ANYTHING. OR YOU WANT TO ELABORATE ANY FURTHER ON JUST A LITTLE BIT.
SO ON THE WEBSITE, LIKE IT IS LIVE IS UP THERE.
ACTUALLY, THERE'S JUST A FEW OTHER THINGS WHERE WE'RE GOING TO TRY TO BUILD OUT. IF YOU GO ON AND PUT THROUGH, IF YOU HAVE ANY IDEAS OR THOUGHTS OR FEEDBACK, PLEASE LET MYSELF OR SAM KNOW.
WE DO HAVE THE DEVELOPERS ON RETAINER FOR A LITTLE WHILE LONGER.
RIGHT. SO LIKE SO IF THERE'S SOMETHING THAT WE DO NEED TO GET FIXED OR UPDATED ANYONE WOULD LIKE TO OPINE ON, PLEASE LET US KNOW WHILE WE ALL WE STILL HAVE THAT.
AND YEAH, LIKE LIKE SAM SAID, WE'RE GOING TO TRY TO DO SOME MORE ORIGINAL CONTENT ON LINKEDIN FIRST.
WOULD THAT BE NICE? TAKE SOME OPPORTUNITIES TO DO BIOS FOR THE BOARD MEMBERS.
MAYBE DO SOME DEVELOPER HIGHLIGHTS AS WELL AS, YOU KNOW, AS DEALS GET DONE.
AND WE HAVE MORE PARTNERSHIPS WITH THE DEVELOPMENT COMMUNITY.
JUST KIND OF WAYS TO BUILD OUT THE KIND OF THE POST THAT WE HAVE ON LINKEDIN AND JUST KIND OF BUILD OUR, OUR, OUR PROFILE. THANK YOU VERY MUCH. IT'S A REALLY GREAT JOB.
IT LOOKS REALLY GOOD. I HAVEN'T LOOKED AT IT.
THERE'S ALSO A SECTION FOR POTENTIAL RESIDENTS SO THEY CAN GO AND FIND DIFFERENT, YOU KNOW, THE RIGHT COMMUNITY FOR THEM. ONES THAT ARE COMING ONLINE, ONES THAT ARE ALREADY LEASING.
SO I SAID IT'S KIND OF RESOURCES FOR, YOU KNOW, BOTH OUR DEVELOPERS AND OUR USERS.
THANK YOU. GOOD JOB. ANY OTHER COMMENTS? FOLLOW US ON LINKEDIN.
PARDON? DON'T FOLLOW US ON LINKEDIN. YES, INDEED. PLEASE POST UP THERE TOO.
YEAH. MOVING ON TO ITEM NUMBER 16. REVIEW AND DISCUSSION OF DPS TREASURER'S REPORT.
MR. MCDANIEL. ALL RIGHT. GREAT. YEAH. WE HAVE SHANNON ONLINE TO RUN THROUGH THIS FOR US, I BELIEVE.
SHANNON, ARE YOU THERE? SURE. YES, I SURE AM, SAM.
SO REALLY PRETTY QUIET MONTH SINCE LAST MONTH.
HALFWAY THROUGH THE YEAR, CASH BALANCES ARE STILL RIGHT.
OVER 4 MILLION. $4,050,674. MONEY MARKET CONTINUES TO EARN INTEREST AT THAT 3.04% WHICH MAKES UP THE VAST MAJORITY OF THAT CASH AND CASH EQUIVALENTS NUMBER.
YOUR NET CHANGE IN FINANCIAL POSITION FOR THIS FIRST HALF OF THE YEAR IS A POSITIVE 277,000 AND $126. FAIRLY QUIET QUESTIONS. ANY QUESTIONS? THANK YOU VERY MUCH. WE APPRECIATE THE REPORT AND THE GOOD NEWS.
THANK YOU VERY MUCH. AND MOST CERTAINLY, SIR.
MOVING ON TO ITEM NUMBER 17, DFC PIPELINE REPORT, BRIEFING AND DISCUSSION.
MR. MCDANIEL RIGHT. WE'VE HAD A FEW THINGS SINCE LAST TIME. RIGHT NOW NOT ALL UNITS ARE AVAILABLE. YOU KNOW, USING PROPERTIES.
[01:05:03]
WE HAVE JUST SHY OF 1000 UNITS ONLINE. SOME OF THEM ARE BUILT IN, YOU KNOW, BEING FURNISHED OUT AND WHATNOT, BUT PRETTY CLOSE TO ANOTHER MAJOR MILESTONE THERE.THERE IS ONE NEW PROJECT THAT WE ARE CONSIDERING AND SHOULD BE COMING TO THE BOARD NEXT MONTH.
THERE IS POSSIBLY TO THE FOLLOWING MONTH. WE HAVE TWO CLOSINGS SCHEDULED.
POSSIBLY THREE OVER THE NEXT THREE MONTHS. AND JUST WHILE WE'RE ON THE PIPELINE STUFF.
THE LAST PROJECT THAT WAS APPROVED WAS ACTUALLY AGREED.
THE PIPELINE HAS AGREED TO ADD SOME 50 UNITS.
THEY'RE GOING TO BRING IT DOWN FROM 80S TO 50S.
WHICH WILL GIVE US BOTH 30S AND 50S AND THAT ADDITIONAL PROPERTY.
WE'D LIKE TO TRY TO FIGURE THAT OUT, HOW TO GET PUMPED THAT UP.
AND THEY WERE TOTALLY OPEN TO THE FACT YOU KNOW, THAT WE HAVE BEEN RELYING ON PUBLIC BENEFIT CALCULATION FOR BOTH BOARD APPROVAL AND CITY COUNCIL. VERY HEAVILY LEANS INTO THAT.
RIGHT. SO THEY WANTED TO DO WHATEVER THEY COULD TO HAVE A GOOD PROJECT GOING FORWARD.
AND AND THEY'RE THEY'RE CHANGING THAT UP. BUT, YEAH, THAT'S WHERE WE'RE AT RIGHT NOW.
SO DO YOU HAPPEN TO KNOW THAT STARTING THIS UP, THEY SHOULD BE RELEASING SOON? I BELIEVE THEY'RE GETTING CLOSE BY THE END OF THE YEAR, MOST LIKELY.
I HAVE TO SAY. LET ME SEE. I HAVE A PREDICTION HERE IN ABOUT PIPELINE.
OH, NO. EARLY EARLY 2026 FOR FIRST UNITS ON THAT.
YEAH, THAT SHOULD BE ONE OF THE NEXT ONES TO MOVE UP.
ANY OTHER QUESTIONS? THANK YOU, MR. MCDANIEL.
VERY GOOD. MOVING ON TO ITEM NUMBER 18. DO WE HAVE A MOTION TO ADJOURN? I MOTION TO ADJOURN BY DIRECTOR MARQUEZ, SECONDED BY DIRECTOR MONTGOMERY.
ALL IN FAVOR SIGNIFY BY SAYING AYE. AYE AYE AYE.
OPPOSED? SEEING NONE. THE JULY 29TH DALLAS PUBLIC FACILITIES CORPORATION MEETING IS HEREBY
ADJOURNED AT 1:57 P.M.. THANK YOU VERY MUCH FOR ALL YOU'RE DOING FOR HOUSING IN DALLAS.
* This transcript was compiled from uncorrected Closed Captioning.