* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. OKAY. [00:00:01] GOOD AFTERNOON EVERYONE. UM, IT IS 12:02 PM AND YOU'RE GOING TO CALL TO ORDER THE MEETING OF THE CITY OF DALLAS, HFC. UM, JACKIE, WOULD YOU MIND LEADING US IN THE ROLL CALL? YES. STATE YOUR NAME PLEASE. YOU NOTE YOU'RE PRESENT, AND A REMINDER TO KEEP YOUR CON UH, YOUR CAMERA'S ON IF YOU ARE REMOTE. UH, DIRECTOR SEAN ALLEN. PRESENT. UM, DIRECTOR SHALANDA AJUAH. AJUAH. PRESENT? PRESENT. UM, DIRECTOR JACK MARSHALL. C. PRESENT TREASURER TATIANA FARROW. PRESENT DIRECTOR PATTY COLLINS. PRESENT DIRECTOR KEVIN HINTON. PRESENT VICE PRESIDENT BRIAN GARCIA. PRESENT DIRECTOR DAVID ELLIS. UM, PRESIDENT MARCY HEIN. PRESENT DIRECTOR RYAN MOORE. PRESENT. SECRETARY TONY PAGE? I DON'T THINK THEY SAY . UH, DIRECTOR SEAN SADIE. PRESENT. MR. ROBINSON. AND, UH, YEAH. I SEE. UH, DIRECTOR BERT ROBINSON. OLIVER, I CAN SEE YOU JOINED. CAN YOU HEAR ME? YEAH. PRESENT? I'M HERE. THANK YOU. AND THEN DIRECTOR VI NAAR. SEE, HOLD ON. OKAY, GREAT. AND WITH THAT WE HAVE A COURT. EXCELLENT. NEXT ITEM, ITEM THREE. PUBLIC COMMENTS ON ITEMS FOUR THROUGH 10. IS THERE ANYONE WITH PUBLIC COMMENT? OKAY, HEARING NONE. WE'RE MOVING ON. ITEM FOUR, APPROVAL OF THE MINUTES FOR THE JUNE 10TH, 2025. CITY OF DOW FINANCE CORP HOUSE FINANCE CORPORATION MEETING. WE HAVE, WE HAVE A MOTION TO APPROVE THE MINUTES. THERE'S SOME ISSUE WITH THE MINUTES, ? OH YES. UM, THE SAID THE VACANCY FOR DISTRICT, SO I WOULD SEE IT LAST FALL. YES. YES. YOU, WE, WE'LL MAKE THAT CORRECTION. OKAY. THANK YOU. EXCELLENT. UM, UH, WITH THAT INCLUDED CORRECTION, ARE THERE ANY OTHER CORRECTIONS TO THE MINUTES? HEARING NONE, UH, WE'LL CALL A VOTE. ALL THOSE IN FAVOR OF APPROVING THE MINUTES WITH A CORRECTION, PLEASE SAY AYE. AYE. AYE. ANY OPPOSED? HEARING NONE. THAT PASSES. OKAY. WE WILL NOW MOVE ON TO ITEM FIVE. UH, APPROVAL OF REVISION TO THE CORPORATION'S MULTIFAMILY FINANCING APPLICATION PROCEDURES AND REGULATIONS TO INCREASE THE PREPARATION FEES FOR THE BOND REVIEW BOARD APPLICATION, CONSIDER AND APPROVE THE RESOLUTION TO THE CORPORATION'S MULTI-FAMILY FINANCING APPLICATION PROCEDURES AND REGULATIONS TO INCREASE THE PREPARATION FEE FOR THE BOND REVIEW BOARD APPLICATION. $2,500 $7,500 WITH $5,000 BEING IN THE EVENT KNOWN DE SMITH IS ISSUED. UH, GEORGE, I BELIEVE THAT'S YOU OR AARON GEORGE IS THERE. OKAY. AFTERNOON. SO HOW IS THE MAGNET TO, ALRIGHT, LEMME GIVE YOU SOME, SOME BACKGROUND FEE. THAT IS AS LONG. CAN YOU TURN THE MICROPHONE PLEASE? OKAY, SORRY. SO THE FEE THAT IS IN THE CURRENT APPLICATION, 25 S BEEN IN EFFECT FOR LONG AS I'VE BEEN INVOLVED. AND SO THAT'S GOOD USE 30 YEARS AND THE TIME IT WAS ORIGINALLY INSTITU, IT WAS MORE THAN ADEQUATE, BUT TIMES CHANGED. IT'S MORE TIME TO COST . IT'S MORE TIME TO PREPARE APPLICATIONS AND ALSO NOT AS MANY APPLICATIONS YOU'RE GETTING TO FINISH AS BEFORE. SO WE USED TO BE ABLE TO JUST OFFSET THE COST. SO I CLOSING THROUGH NOW SO MANY DEALS, EITHER, UM, CLOSING OR TAKING QUITE BIT TIME, UM, USING MONEY, CERTAIN COMPLICATIONS, LESS INCREASE. IT'S 7,500 PAYABLE AT THE TIME OF APPLICATION, 2,500 OF WHICH IS COMPLETELY NOT [00:05:01] FUNDABLE. AND THEN IF THE DEAL IS NOT INDEED NET FIVE, 5,000 FUNDING, THE DEAL IS INDUCED THEN BECOMES NON FUNDABLE. BUT IT'S CREDIT CLOSING POOL. IF THE DEAL ULTIMATELY CLOSES IT, IT DOES NOT, IS NOT FUNDABLE, BUT ALSO IS AS ONE SLIGHT AGENDA, SAME PROJECT WITH APPLIES TO THE SAME PROGRAM HERE, THEN THE FEE WOULD 25 SUBSEQUENT LIMITATIONS. AND SECOND, AFTER ANSWER ANY QUESTIONS? THANK YOU, GEORGE. UM, I DON'T THINK THIS IS GOING TO DETER ANYONE FROM APPLYING. AS GEORGE SAID, THIS HAS BEEN AROUND FOR A LONG TIME AND IF THEY REAPPLY GETTING THE SAME PROGRAM HERE, THERE'S A REDUCED RATE. UH, I THINK IT MAKES A LOT OF SENSE. DOES ANYONE ELSE HAVE ANY QUESTIONS FOR GEORGE OR SETH? DO WE THINK THAT AMOUNT IS SUFFICIENT? THAT MOVING 6,500? YES. ENOUGH. JUST THAT QUESTION IS BASIC. THE AMOUNT OF TIME IS TAKEN TO DO THE REVIEW. YEAH. BECAUSE THERE'S IS REVIEW OF THEIR APPLICATION PLUS ASSEMBLING AN APPLICATION TO THE TEXAS BOND. SO BETWEEN REVIEW OF THE APPLICANT'S APPLICATION TO THE CASE C AS WELL AS PREPARING THE APPLICATION TO MODEL . OKAY. IT'S QUITE A BIT COMMON. IT'S GOT MORE COMPLICATED. YEAH. UM, UNLESS ANYONE HAS ANY QUESTIONS, I'M WILLING TO ENTERTAIN A MOTION. EXCUSE SHALL A MOTION TO I'LL MOTION SECOND. PERFECT. WE HAVE MOTION IN A SECOND. UM, JACKIE, CAN YOU RUN THROUGH THE ROLL CALL PLEASE? UH, YES. UH, DIRECTOR SEAN ALLEN. UH, UH, DIRECTOR SHALANDA. OLA? YES. UM, DR. JACK MARSHALL. C UH, APPROVE TREASURER, TATI ABSTAIN. UH, DIRECTOR PATTY COLLINS. APPROVE DIRECTOR KEVIN HINTON. APPROVE DIRECTOR RYAN GARCIA. APPROVE VICE PRESIDENT. EXCUSE ME. UM, DIRECTOR DAVID ELLIS. OH, SORRY. PRESIDENT MARCY HIIN. APPROVE DIRECTOR RYAN MOORE. APPROVE. OH, SORRY I MISSED ALL. UM, THANK YOU RAY DIRECTOR OLIVER ROBINSON APPROVED AND, UH, DIRECTOR SEAN. SAD APPROVE. EXCELLENT. THAT ITEM PASSES NOW MOVING ON TO ITEM NUMBER SIX, RESOLUTION FOR THE HARTFORD LIVE LIVING LOCATED AT 400 NORTH ST. PAUL STREET IN THE CITY OF DALLAS, DALLAS COUNTY, TEXAS 7 5 2 0 1. AND, UH, AND TO GET CONVERTED TO A MULTI-FAMILY RESIDENTIAL DEVELOPMENT CONSIDERING ADOPTED RESOLUTION OF APPROVING A MEMORANDUM OF UNDERSTANDING WITH BLUE LOSS INC. OR A DESIGNATED AFFILIATE FOR THE ACQUISITION FINANCING DEVELOPMENT AND OPERATION OF THE HARTFORD LIVING, WHICH WOULD BE CONVERTED TO A MULTI-FAMILY RESIDENTIAL DEVELOPMENT. SO ON THIS ITEM, I DON'T THINK, UH, WE'RE IN A POSITION TO BE READY TO HEAR THAT RIGHT NOW. WE NEED TO GET A LITTLE BIT MORE GUIDANCE ON IT. SO I WOULD, UM, LIKE TO SEE IF SOMEONE WOULD MAKE A MOTION TO TABLE THIS TO AN UPCOMING AGENDA ITEM. AND THEN, UM, ONCE THAT MOTION IS MADE, IF ANYONE FROM THE DEVELOPER WOULD LIKE TO SPEAK, WE COULD CERTAINLY HAVE SOME DISCUSSION. BUT I DON'T HAVE, RIGHT. YEAH, BUT OKAY. PERFECT. MOVED THE ITEM. SECOND, FIRST. SECOND. THANK YOU. UM, JACKIE, WOULD YOU MIND DOING THE ROLL CALL PLEASE? SURE. MY APPLICATION. OH, OKAY. UM, CAN WE DO IT BY A EXPLANATIONS? IT'S JUST LING . PARDON? TABLE ITEM ITEM. WE WANT TABLE THE ITEM. CAN WE JUST DO A VOICE VOTE? CAN WE DO IT, DO WE HAVE TO DO A ROLL CALL VOTE? OR CAN WE JUST DO IT BY ACCLIMATION? DO A VOICE VOTE YES. UH, YEAH. TO TABLE IT OR TO POSTPONE IT TO A LEADER MEETING. OKAY. YEAH. OKAY. ALL THOSE IN FAVOR OF, UM, THE MOTION TO TABLE PLEASE SAY AYE. A AYE AYE. AYE. AYE. ANY OPPOSED? HEARING NONE. MOTION [00:10:01] TABLE PASSES. OKAY. ITEM NUMBER SEVEN, RESOLUTION FOR THE HEIGHTS AT UNT STATION IN MULTIFAMILY RESIDENTIAL DEVELOPMENT TO BE LOCATED AT 10 21 EAST WHEATLAND ROAD, DALLAS COUNTY. UH, 7 5 2 4 1 A. CONSIDER AND ADOPT A RESOLUTION OF PROVING MEMORANDUM OF UNDERSTANDING OF LDG MULTIFAMILY LLC OR A DESIGNATED AFFILIATE FOR THE ACQUISITION FINANCING, DEVELOPMENT AND OPERATION OF THE HEIGHTS OF UNT STATION. A MULTI-FAMILY RESIDENTIAL DEVELOPMENT. B, CONSIDERING ADOPT RESOLUTION OF PROVEN THE TRANSFER AND ASSIGNMENT OF DHFC, THE HEIGHTS AT UNT STATION, G-P-L-L-C-A TEXAS LIMITED LI LIABILITY COMPANY TO THE CORPORATION AUTHORIZING THE CORPORATION AS THE SOLE MEMBER OF THE UNT STATION GP AND APPROVING THE FORM AND SUBSTANCE OF AN AMENDED RESTATED LIMITED LIABILITY COMPANY AGREEMENT IN THE EXECUTION THEREOF. SEEK, CONSIDER AND ADOPT RESOLUTION APPROVED OF THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS THE SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED DHFC, BA HEIGHTS AT UT STATION DEVELOPER LLC AND APPRO. THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF BE CONSIDERING AND AUTHOR RESOLUTION APPROV THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS THE SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED DHFC BA HEIGHT AT UT STATION LANDOWNER OVER LLC AND APPROVING THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF AT E CONSIDER AND ADOPT THE RESOLUTION APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH A CORPORATION AS THE SOLE MEMBER WITH THE TEXAS SECRETARY OF THE STATE TO BE NAMED THE DHC BA HEIGHTS AT UNT STATION CONTRACTOR, LLC AND APPROVING THE FOREMAN AND SUBSTANCE OF LIMIT LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF. AARON . UH, SO WE HAVE JAKE HERE. WE, WE SEEN THIS INDUCEMENT, UH, AND WE NOW HAVE THE MOU BEFORE US AND JAKE IS HERE TO REFRESH YOUR MEMORIES. UM, BUT THEY HAVE OPPOSING SIMILAR THANKS. THANKS AARON. UM, YEAH, I'VE GOT A QUICK PRESENTATION FROM THE CREW AS AARON MENTIONED. UM, YOU GUYS SAW THIS MIGHT HAVE BEEN BACK FALL. I WAS, IT'S BEEN SOME TIME WHEN WE CAME FOR AN INDUCEMENT. UM, AND SO WE'RE BACK OUT WITH THE MOU, BUT, UM, I CAN RUN THROUGH THE PRESENTATION IF YOU WANT. JACK, ARE YOU CONTROLLING? UH, SOPHIA'S. OH, OKAY. WE CAN GO NEXT. UH, WE CAN SKIP THIS. THAT'S COMPANY OVERVIEW. NOTHING'S CHANGED. WE THAT ONE NOW. UH, SO JUST A QUICK SUMMARY. SO, UH, LIKE I MENTIONED, YOU GUYS HAVE SEEN THIS ONE BEFORE. YOU ACTUALLY SAW IT EVEN BEFORE ME, I THINK FOUR OR FIVE YEARS AGO. UH, A DIFFERENT DEVELOPER HAD IT, THE PART FOR REASONS I'M NOT SURE OF. BUT, UH, JUST A QUICK SUMMARY OVERVIEW. SO WE'VE GOT, UH, THIS PROPERTY'S ALREADY ZONED. IT'S AT 10 21 EAST WHEATLAND ROAD. SO, UM, THIS IS DONE PRETTY CLOSE TO THE UNT, UH, UNT DART STATION. UM, IT'S THE MAIN UNT STATION, BUT UM, IT'S PART OF A PD THAT ALLOWS FOR MULTIFAMILY. SO IT'S ALREADY GOT THE ZONING NECESSARY FOR WHAT WE'RE PLANNING TO DO HERE. UH, 240 UNITS ALL CONTEMPLATED AT 60% OF THE AREA, IMMEDIATE INCOME. UM, AND TYPICAL AMENITY PACKAGE, BOTH THE INTERIOR AND, AND JUST PROPERTY AMENITIES AS YOU WOULD SEE. SO, UH, FITNESS CENTER, POOL, PLAYGROUND, UM, DOG PARK, GRANITE COUNTERTOP, SPINAL FLOORING, THE WHOLE TYPICAL PACKAGE, AS YOU CAN SEE AT ELEMENT CHAIN PROPERTY. WE GO. NEXT SLIDE. UM, THIS NEXT ONE IS JUST AN AREA, KIND OF GIVE YOU A LITTLE BIT OF A BETTER IDEA OF WHERE THE PROPERTY'S LOCATED. SO JUST, JUST NORTH OF I 20, UH, JUST SOUTH OF THE, OR SOUTHEAST, SORRY, SOUTHWEST OF THE UNT DART STATION AT THE UNT CAMPS. GO NEXT SLIDE. UH, AND SO AGAIN, I MENTIONED THAT UNTD DART STATION. UH, SO IT'S ABOUT JUST OVER A HALF MILE AWAY. UH, IT'S REALLY PROBABLY CLOSER TO HALF MILES TO GROVE FLIES WITH WALKING DISTANCE. IT'S, UH, SEVEN MILES, BUT JUST UP THE UNIVERSITY HILLS FROM SITE YOU GO NEXT. THIS WAS JUST A BOUNDARY KINDA SHOWING YOU WHAT IT IS. SO IT'S RIGHT THERE AT THE CORNER OF UNIVERSITY HILLS AND WHEATLAND ROAD. UH, THAT LITTLE NOCH YOU SEE THERE, RIGHT ON THE HARD CORNER WE DON'T OWN. AND IT'S ABOUT HALF ACRE. UM, IT'S A SEPARATE OWNER. WE APPROACHED THEM ABOUT ACQUIRING IT, BUT JUST MOBILIZED OR MATERIALIZED. WE GO TO THE NEXT SLIDE. SITE PLAN. UH, SO AGAIN, 240 UNITS, ALL THREE STORIES SLAB, ONE GRAY WALK UP SURFACE MARK. AGAIN, IT VERY, VERY SIMILAR TO, UH, YOU KNOW, THE LAST SIX OR SEVEN DEALS THAT WE'VE DONE WITH YOU GUYS AS FAR AS THE PRODUCT TYPE GOES. GO. NEXT SLIDE. THERE'S A RENDERING JUST TO KINDA GIVE YOU A BETTER ILLUSTRATION. UH, SO JUST ONE THING I WILL POINT OUT. YOU PROBABLY SEE THE ARRIVE LOGO THERE IN THE BOTTOM LEFT HAND CORNER OF THE SCREEN. SO WE'VE GOT, UM, THE STATE THAT DESIGNED THE, THE LEGACY ON PIECE THAT WE JUST CLOSED A COUPLE WEEKS AGO WITH YOU GUYS. SO, UM, THEY'RE A NEW DESIGN ARCHITECT THAT WE BROUGHT INTO THE FOLD THAT'S [00:15:01] ACTUALLY BEEN REALLY GOOD FOR US. SO THEY'RE, YOU'LL PROBABLY SEE MORE WORK FROM THEM AS WE GO FORWARD, BUT THERE'LL BE SOME ARCHITECT ON THIS ONE AND ANOTHER PROJECT THAT I'LL PRESENT HERE IN A BIT. WE GO NEXT SLIDE. LAST COUPLE SLIDES. UH, THE NEXT COUPLE SLIDES, JUST INTERIOR DESIGNS I MENTIONED, YOU KNOW, THE BRANDED COUNTERTOPS, VINYL FLOORING, UH, ENERGY EFFICIENT APPLIANCES. ONE THING I WILL NOTE IS, UH, YOU'VE PROBABLY SEEN OR PROBABLY CAN SEE OTHER PHOTOS AND A FEW VISIBILITIES YOU'VE PROBABLY SICAL TYPICAL FOR, HISTORICALLY WE'VE HAD BLACK APPLIANCES IN THERE, SO WE'RE ACTUALLY MOVING OVER TO STAINLESS STEEL. SO, UM, THAT'S, THAT'S ONE UPGRADE THAT YOU'LL SEE STARTING WITH THE LEGACY ON YEAS AND ALL LDG PRODUCTS. UM, THE NEXT ONE, JUST AGAIN, FULL FITNESS CENTER CLUBHOUSE, DOG PARKS, NOT FIX ON THERE, BUT THAT WILL BE INCLUDED. UH, JUST SOME OF THE COMMON AMENITIES, . AND THEN, UH, JUST KIND OF A QUICK OVERVIEW. I KNOW YOU GUYS GET A COPY OF THE, THE MODEL, THE PROFORMA, BUT JUST TO KIND OF HIGHLIGHT THE, I WON'T RATTLE 'EM OFF TO YOU, BUT JUST THE, THE EQUITY AND, AND DEBT SOURCES AND ALSO DEFERRED DEVELOPER FEE. UH, ONE THING I WILL CALL OUT THAT'S, IT'S NOT LISTED ON THERE, IT'S NOT LISTED ON THERE FOR A REASON. IT'S, WE'RE NOT, UH, THERE'S NO SUBORDINATE FINANCING, SO NO, UM, WE'RE NOT ASKING YOU GUYS FOR A MATCH LOAN OR ANYTHING LIKE THAT, LIKE WE DID ON KEYS. THERE'S NO CDBG OR TCAP MONEY OR ANYTHING OF THAT SORT. SO THIS ONE'S, UH, A LITTLE BIT MORE MIDDLE OF THE FAIRWAY DEAL. UM, AS YOU GUYS HAVE SEEN THAT FINAL APPROVAL, PROBABLY THE LAST THREE OR FOUR DEALS KIND OF SINCE INTEREST RATES SPIKED UP. UH, SOMETIMES ONCE WE GET BEAT UP BY LENDER AND INVESTOR ON OPERATING EXPENSES FEE, GET OURSELVES INTO A SITUATION WHERE WE NEED TO DEFER SOME OF THE ARCHITECT FEE AS A SUPPORT THAT'S NOT CONTEMPLATED RIGHT NOW. UH, THAT'S NOT TO SAY THAT WHEN WE COME BACK, HOPEFULLY FOR FINAL APPROVAL IT WON'T BE. BUT, UH, JUST WANTED TO MAKE, MAKE NOTE OF THAT, MAKE YOU AWARE OF WHY IT'S NOT LISTED ON THERE. AND THEN I THINK THE LAST SLIDE IS JUST THE MOU SUMMARY. SO, UM, THIS IS A BUSINESS DEAL THAT'S VERY, VERY SIMILAR TO, UM, UM, WHAT WE DISCLOSED ON THE LEGACY KEYS WITH YOU GUYS AS FAR AS THE, THE DEVELOPER FEE SPLITS, CASH FLOW SALE, REFINANCE, UM, THE PARTNERSHIP MANAGEMENT FEE. UH, AND THEN ONE THING I WILL JUST NOTE ON HERE, UM, SIMILAR TO THE LAST SEVERAL TRANSACTIONS THAT WE'VE DONE WITH YOU GUYS, UM, THESE TWO TODAY ARE NO DIFFERENT IN THE SENSE THAT WE'RE KIND OF PURSUING BOTH AVENUES AS FAR AS THE BOND ISSUE GOES, JUST TO GIVE US A BETTER, BETTER OPPORTUNITY TO CAST A WATER NET TO GET A BOND RESERVATION. SO, UM, WE'VE GOT AN INDUCEMENT FROM YOU GUYS, OBVIOUSLY. I THINK WE'VE GOT A FACT APPLICATION OUT THERE WAITING IN LINE. UH, AND THEN WE GOT AN INDUCEMENT FROM T-D-H-C-A. SO I, I DON'T REMAINS TO BE SEEN ULTIMATELY WHERE WE GO AS FAR AS THE ISSUER, BUT I JUST WANTED TO BE TRANSPARENT ABOUT THAT. IT WILL ULTIMATELY COME DOWN TO, YOU KNOW, WHENEVER WE GET A RESERVATION, WHICHEVER ONE AND WE'RE READY BACK. THAT'S FINE. THAT'S, UH, THAT'S REALLY IT. I WON'T RATTLE OFF ALL THE DETAILS THAT ARE ON THIS SLIDE, BUT THAT'S JUST PRETTY MUCH IT FOR ME ON THIS ONE, UNLESS YOU GUYS HAVE QUESTIONS. UH, OR JUST WANNA TALK THERE, ANYTHING ON THAT? I GUESS WE'LL GO BACK INTO QUESTIONS. YEAH, SORRY, THIS IS MY FIRST TIME HEARING, SO, UM, I THINK I SEE SOMETHING ABOUT THE TEXAS BLUEGRASS. SO WAS THIS A DUE ORIGINALLY WITH ANOTHER, UH, ENTITY? YEAH, IF YOU SEE THERE MAY, IT SOUNDS LIKE IN THE PACKAGE OR SOMETHING THAT THERE WAS AN ORDER CHARGE, SOMETHING LIKE THAT INCLUDED. SO TEXAS BLUEGRASS IS THE, IT'S THE SOLE MEMBER OF THE SPECIAL LIMITED PARTNER IN ALL THE DEALS THAT WE DO. SO, UM, THAT ENTITY CONSISTS OF OUR TWO CO-PRINCIPALS, CHRIS, CHRIS INGER AND MARK WENER, AND THEN MYSELF AND THEN, UH, MY COUNTERPART JUSTIN HARTS. SO IT'S REALLY JUST LIKE THE AFFILIATE ENTITY THAT'S PART OF THE ORGANIZATIONAL STRUCTURE. SORRY, I DIDN'T, I SHOULD HAVE, I ASSUMED EVERYONE ELSE IS HERE. IS THIS YOUR FIRST BOARD MEETING? YEAH. YEP. OKAY. WHAT'S YOUR NAME? WELL, THE, IT SITTING UP HERE, BUT YEAH, LAN, SOLANA. JAKE, NICE TO MEET YOU. UM, JAKE DID HAVE A QUESTION FOR YOU ON THE ISSUER. SURE. UM, SINCE I, I KNOW YOU WANT TO CAST A WIDER NET, BUT THAT IS A GOOD AMOUNT, OFR FEE THAT WE WOULD BE MISSING OUT ON IF YOU WERE TO GO WITH T-D-H-C-A. YEAH. UM, CAN YOU GIVE US, I GUESS I KNOW YOU DON'T KNOW RIGHT NOW, BUT WHAT DO YOU THINK THE ODDS ARE THAT WE WOULD BE THE ISSUER VERSUS TDHC? BECAUSE THAT IS A GOOD CHUNK OF CHANGE FOR US. I, I WOULD SAY 50 50. AND I KNOW THAT'S REALLY NOT A VERY GOOD ANSWER, KIND OF A NON-ANSWER. UM, BUT IN ALL SERIOUSNESS IS PROBABLY 50 50, YOU KNOW, I'LL SAY THIS ON THE PUBLIC RECORD 'CAUSE I'D SAY THE SAME THING, THCA, IT WOULD BE MY OVERWHELMING PREFERENCE TO YOU GUYS. Y'ALL ARE CHEAPER AND I LOVE THCA, BUT THERE'S JUST SOME EXTRA HOOPS YOU HAVE TO JUMP THROUGH, GOES WITH IT. BUT, UH, AGAIN, I KNOW THAT'S KIND OF A NON-ANSWER, BUT I THINK MAYBE A LONGER ANSWER THAT'S STILL KIND OF A NON-ANSWER IS THAT OBVIOUSLY WE WANNA PUT OURSELVES IN THE BEST POSITION TO GET, NOT JUST FOR OURSELVES, BUT FOR YOU GUYS IN THE CITY [00:20:01] OF DALLAS, SO WE CAN PUT UNITS ON THE GROUND. SO, UM, YOU KNOW, THAT OBVIOUSLY THE ISSUER FEE IS, IS A LARGE COMPONENT OF THAT, OF THE PROFIT GENERATOR FOR THE DHFC. THAT'S, THAT'S NOT LOST ON ME, BUT, UH, YOU KNOW, TO ME IT'S LIKE, DO WE WANNA, WE WANNA HANDCUFF OURSELVES AND ONLY DO IT, YOU KNOW, WITH DHFC BEING AN ISSUER, OR DO WE WANNA GET THE DEAL DONE AS FAST AS WE CAN SO WE CAN MAKE MONEY, PUT UNITS ON THE GROUND? YEAH, I KNOW MY ANSWER. I RECOGNIZED IT. YOU GUYS SIT ON A DIFFERENT SIDE OF THE TABLE, PROBABLY A DIFFERENT THOUGHTS FROM THAT. TOTALLY RESPECT THAT. BUT THAT'S MY, THAT'S MY LONG, UM, AND THAT'S SOMETHING I'D LIKE TO KIND OF GET THE REST OF THE BOARD'S OPINION ON. UM, DO WE WANNA TRY TO PRIORITIZE US BEING THE ISSUER FOR FEES, UM, TON OR AARON, COULD YOU GIVE US KIND OF ROUGHLY THE AMOUNT OF FEES THAT WOULD BE? UH, GIMME A SEC. I THINK IT WAS, I THINK IT MAY BE ON THAT LAST SLIDE, WE CAN GO BACK. UM, BECAUSE I THINK, UH, IS IT THE DHS THAT ISSUE 3.5%? SO ASSUMING, I THINK THIS ONE'S 42 MILLION, I CAN'T SEE IT. 10,000. YEAH. SO JUST OVER $200,000 WOULD BE THE, THE ESTIMATED FEE. BUT, YOU KNOW, I DON'T, AGAIN, I CAN'T SEE IT. I, I TYPED OR WHAT JAMES TYPED, BUT, UM, YEAH, I DON'T THINK THAT HAS THE NUMBERS ON THERE FOR THE, THE PROJECTED DEVELOPER FEE. UH, AND THEN ALSO GC FEE. YEAH. I MEAN, IT'S A MEANINGFUL AMOUNT OF MONEY, RIGHT. BUT WE STILL HAVE ALL THESE OTHER WAYS THAT WE BENEFITED. WE'RE NOT , IT'S JUST DO, WOULD THE DEAL GET PREFERENCE IF YOU GO THROUGH THE T-P-H-C-A AS THE BOND ISSUE? OR IS THAT A JUSTIFICATION? NOT, NOT THE MECHANISM THAT WE'RE PURSUING FOR THEM TO, BUT I MEAN, IT'S THE, THE BOND COUNCIL SURPRISED TO SPEAK TO THIS BETTER THAN I CAN, BUT I, THE WAY THAT I UNDERSTAND IT IS THERE'S DIFFERENT SET SIDES FOR LOCAL ISSUERS VERSUS STATE ISSUER T-D-H-C-A. SO THE REASON BY DOING IT, AND LEAST IN MY MIND, THE REASON IS, IS YOU KNOW, GIVES US THE OPPORTUNITY TO TAP INTO DO THOSE, JUST ASIDE WHETHER OR NOT T-D-H-C-A HAS GOT ENOUGH THAT CAN BE ALLOCATED TO US OR NOT, OR WHENEVER WE CAN GET A RESERVATION FROM A LOCAL LIKE YOU GUYS ON AN ANNUAL BASIS REMAINS TO BE SEEN. BUT I DON'T KNOW, MAYBE IT WOULD BE BETTER. I IMAGINE WE SHOULD HAVE THE PAST. WE HAVE A RESERVATION. OH, WE HAVE, OH, THAT'S, I WAS THINKING RESERVATION. I WAS THINKING OF TRINITY FOR US. YEAH, WE DO HAVE A RESERVATION, BUT I'M NOT READ. SO, YOU KNOW, THIS IS, THIS IS A PRIME EXAMPLE OF WHY WE DO WHAT WE DO. THANK YOU. HAD FORGOTTEN ABOUT THAT. UH, SO FOR THIS ONE, I WAS THINKING THAT WAS THE NEXT ONE. WE'RE TALKING ABOUT TRINITY FOR US. WE'RE PLANNING TO GIVE THAT ONE BACK, BUT WE'VE JUST DELAYED DOING THAT JUST TO KIND OF SLOW OUT THE INFLUX OF VOLUME CAP. BUT WE'LL IMMEDIATELY REAPPLY, UH, AND HELP TO GET A RESERVATION. THIS ONE I'M A LITTLE DISCOMBOBULATED BECAUSE THIS ONE'S A LITTLE BIT FURTHER BEHIND THE TRINITY FOREST. WE PROBABLY WON'T GET A POSITION TO CLOSE. SO I'M GUESSING EARLY Q2 OF 2026. UH, SO THAT'S THE REASON NOT READY TO ACT ON THIS RESERVATION. YEAH, YEAH. THE THREE FOURS PROPERTIES THAT, THAT'S SO MATH, SO THERE'S THE, THE 50 BIPS AS ISSUANCE FEE. YOU ALSO RECEIVED THREE YEARS OF THE ONGOING ANNUAL FEE AT CLOSING. SO THAT'S ABOUT 126,000. SO IT'D BE 336 TOTAL AT CLOSING FOR, FOR ISSUE FEES. THANK YOU BRAD AND JAKE, I GUESS, CAN I ASK A QUESTION? YES. YES. ON, UH, YOUR REAPPLICATION, ARE YOU LOOKING TO GET BACK IN FOR THIS PROGRAM YEAR THROUGH, THROUGH DALLAS, HFC, OR ARE YOU LOOKING TO TO REAPPLY THROUGH THCA WITH YOU GUYS? YEAH, AND I GUESS PROBABLY WARRANTS THE CONVERSATION OFFLINE. JUST DEVELOP THE STRATEGY OF THE TIMING TO DO THAT. LIKE THINK IT MAKES SENSE. JUST GO AHEAD AND REAPPLY. THAT'S WHAT I HAD IN MY HEAD, BUT I MEAN, WE CAN TALK ABOUT THAT FIGURE OUT. YEAH, WE DON'T GOTTA PLAY THE VOLUME CAP GAME IN FRONT THE BOARD. WE CAN TALK THAT OUT. I HAVE A QUESTION. JAKE, THIS IS MARCY. UM, WHAT IS THAT THAT YOU'RE CALLING THE SALES TAX EXEMPTION FEE? THAT'S, THAT'S THE GC FEE. THAT, THAT THE FEE THAT YOU GUYS GET FOR SERVING AS THE, THE GENERAL CONTRACTOR ON PAPER TO FACILITATE THE SALES. OH, THAT'S THE, OH, OKAY. THAT'S THE CONTRACTOR. OKAY. OKAY. YEAH, THANKS. YOU'RE WELCOME. UH, ANY OTHER QUESTIONS FROM ANYONE? UM, STEVE? NONE. I GUESS I WILL ENTERTAIN, UH, A MOTION ON THIS ITEM. UM, IF WE WANT TO LEAVE IT AS IS WITH THE POTENTIAL TO BOTH ISSUERS, WE CAN JUST APPROVE IT AS WRITTEN OR, OR YOU CAN AMEND PART OF IT OR ANY OTHER PART OF THE MOTION LAW, OR YOU CAN JUST APPROVE IT AS WRITTEN AND WE CAN GIVE THE OPPORTUNITY TO TAP INTO MULTI ISSUE WITH POTENTIAL WHATEVER IT'S WORTH. THAT , I'LL MAKE A MOTION TO APPROVE IT AS WRITTEN. OKAY. A MOTION TO APPROVE IT THAT'S WRITTEN FROM JACK. UH, IS THERE A SECOND? SECOND, [00:25:01] SECOND FROM SEAN. OH, COULD YOU GO TO PROTOCOL PLEASE? DR. SEAN ALLEN, APPROVE DIRECTOR SHALANDA OLA APPROVE DIRECTOR JACK STEIN, APPROVE TREASURER TATIANA FARROW, APPROVE DIRECTOR PATTY COLLINS, APPROVE DIRECTOR KEVIN HINTON, APPROVED VICE PRESIDENT RYAN GARCIA, APPROVE PRESIDENT MARC HEIN, APPROVE DIRECTOR OLIVER ROBINSON. APPROVE DIRECTOR RYAN MOORE, APPROVE AND DIRECTOR SEAN FAY APPROVE PASS THAT ITEM PASSES. UM, I'LL READ ITEM NUMBER EIGHT REALLY QUICK, AND THEN I HAVE TO STEP DOWN AND I'LL PASS IT OVER TO, UH, DIRECTOR ALVIN. UM, YOU MIND READING IT? I DON'T MIND. I'M READING IT. OKAY. HERE YOU GO. ITEM NUMBER EIGHT, ACTION I, RESOLUTION FOR THE GATEWAY AT TRINITY FOREST. A MULTIFAMILY RESIDENTIAL DEVELOPMENT TO BE LOCATED AT 2200 VALLEY FERRY ROAD, DALLAS, TEXAS DALLAS COUNTY, 7 5 2 1 7. UM, ITEM A, CONSIDER AND ADOPT A RESOLUTION APPROVING A MEMORANDUM OF UNDERSTANDING LDG MULTIFAMILY LLC, OR A DESIGNATED AFFILIATE FOR THE ACQUISITION, FINANCING, DEVELOPMENT AND OPERATION OF THE GATEWAY AT TRINITY FOREST. A MULTIFAMILY RESIDENTIAL DEVELOPER B, CONSIDER AND ADOPT A RESOLUTION APPROVING THE TRANSFER AND ASSIGNMENT OF DHFC, THE GATEWAY AT TRINITY FOUR, G-P-L-L-C, A TEXAS LIMITED LIABILITY COMPANY TO THE CORPORATION AUTHORIZING THE CORPORATION AS THE SOLE MEMBER OF THE GATEWAY GP IN APPROVING THE FORM AND SUBSTANCE OF AN AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF. IC CONSIDERING ADOPT A RESOLUTION OF APPROVING THE CREATION OF LIMITED LIABILITY COMPANY FOR THE CORPORATION AS A SOLE MEMBER WITH TEXAS SECRETARY OF STATE TO BE NAMED DHFC, THE GATEWAY ATTORNEY, FOREST DEVELOPER LLC IN APPROVING THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF. ITEM D, CONSIDERING DOCK RESOLUTION, APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH A CORPORATION AS A SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED DHFC, THE GATEWAY TRINITY FOREST LANDOWNER, LLC, AND APPROVE THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF. AND IE CONSIDERING ADOPT THE RESOLUTION, APPROVE THE CREATION OF A LIMITED LIABILITY COMPANY CORPORATION AS THE SOLE MEMBER OF THE TEXAS SECRETARY OF STATE TO BE NAMED DHFC, THE GATEWAY OF TRINITY FOREST CONTRACTOR LLC AND APPROVING THE FORM AND SUBSTANCE OF THE LIMITED LIABILITY COMPANY AGREEMENT AND EXECUTION THERE. UP. WITH THAT SAID, JAKE, WOULD YOU LIKE TO TAKE THIS, SIR? YEP. SO TODAY I MOVE ALL OVER AGAIN. UH, GO TO THE NEXT SLIDE AND THE NEXT SLIDE. UM, SO THIS ONE IS, UM, OPPOSITE END OF TOWN. IT'S IN, UH, SOUTHEAST DALLAS, UH, KIND OF THE INTERSECTION OF, UH, I 20 AND DOWNING FER EAST. SO, UM, THIS PROPERTY IS CURRENTLY ZONED IN U ONE. UH, SO THE CITY OF DALLAS, MIXED U ZONINGS. SO EFFECTIVELY ALLOWS FOR BY RIOTS, NOT A REQUIREMENT FOR A MIX OF USE. UM, SO IT ALREADY HAS THE APPROPRIATE ZONING NEEDED, NO ZONING GAMES REQUIRED, UH, 330 UNITS IN TOTAL THE BALL AT 60% AIR OF THE AREA MEDIAN INCOME. UM, AND AGAIN, SAME BUNDLE OF, OF AMENITIES THAT STILL HAS SWIM, POOL, PLAYGROUND, DOG BAR, UH, GRANITE COUNTERTOPS ON FLOOR, ALL THAT STUFF. WE CAN GO TO THE NEXT SLIDE, UH, JUST TO KINDA HELP BETTER ORIENT THINGS. UH, WE CAN GO TO THE NEXT SLIDE. UH, SO THIS IS A, UH, SITE PLAN. THIS ONE IS CONCEPTUAL, BUT, UH, IT'S REALLY FINE AT THIS POINT. SO WE ACTUALLY JUST SUBMITTED, UH, OUR PLANS, UH, A COUPLE WEEKS AGO, START THE PERMIT REVIEW PROCESS. SO, UH, WHAT YOU SEE HERE IS, IS REALLY WHAT YOU GET AT THIS POINT. IT'S, IT'S PRETTY MUCH REFLECTIVE OTHER THAN MAYBE THE PLUS OR MINUS A COUPLE PARKING SPACES OF, OF THE FINAL SITE LAYOUT. UM, BUT, UH, YOU CAN SEE THERE KIND OF AT THE, THE, UH, TOP LEFT HAND CORNER OF YOUR SCREEN ON, ON THE NORTHWEST SIDE. IT'S REALLY THE, THE MAIN ENTRY. UH, AND SO ALSO TOO, SO YOU DON'T KNOW IF YOU CAN SEE IT THERE ON THE SITE PLAN, BUT ON THE LEFT HAND SIDE IS DOWTY FERRY ROAD. SO DOWTY FERRY, UM, IS WHERE YOU WOULD COME IN AND OUT ON. AND SO RIGHT THERE ALONG THAT FRONTAGE, UH, THE PROPERTY OWNER THAT OWNS THAT, WE'RE UNDER CONTRACT WITH THEM TO BUY THIS PLUS OR MINUS 20 ACRES. UH, AND THEN THEY'RE RETAINING THE REMAINING VACANT ANCHORAGE THAT ROUND STUFF. SO THERE'S ACTUALLY ALREADY A, A QT GAS STATION AT THE CORNER OF THE I 20 FRONTAGE IN DOWDY FERRY. THAT'S, UM, IS EITHER JUST BROKEN GROUND OR IS ABOUT TO BREAK GROUND. SO THAT'S, THAT'S HAPPENING. AND THEN, UH, I KNOW THERE'S CONVERSATIONS AND I THINK SOME LEVEL OF PLAN [00:30:01] FOR KIND OF A, WHAT I'LL DESCRIBE AS A HORIZONTAL MIXED USE DEVELOPMENT SURROUNDING BOTH OUR PROPOSED DEVELOPMENT AND QUICK TRIP GAS STATION. SO, UH, I WOULD EXPECT PROBABLY SOME STRIP RETAIL. I KNOW THERE'S BEEN CONVERSATIONS ABOUT A, A HOTEL USER, SO, UH, IT DOESN'T REALLY GET TO, THERE'S MORE ON THE HORIZON THAN JUST WHAT WE'RE POSTING. AND WITH THE QUICK TRIP GAS WE POSTED, SO THE, THE SITE IN TOTAL IS OVER A HUNDRED ACRES, SO THERE'S A LOT OF GOOD OPPORTUNITIES THERE AND A LOT OF GOOD OPPORTUNITIES SURROUNDING US. UH, WE GO TO NEXT SLIDE. UH, AGAIN, SAME INTERIOR FINISHES ON THIS ONE IS, AS WE DISCUSSED ON UNT STATION. UM, WE GO TO NEXT SLIDE IN THE SAME AMENITIES AND COMMON AREAS AS WELL TO THE NEXT SLIDE. UH, SO SIMILAR, SIMILAR SITUATION HERE. UH, REAL MIDDLE OF THE FAIRWAY DEAL RIGHT NOW. NO, SOME MORE NET FINANCING OF ANY KIND. IT'S BEING CONTEMPLATED. UM, STEEL'S OBVIOUSLY, YOU KNOW, SIGNIFICANTLY LARGER THAN THE UNT STATION DEALS, SO I WON'T SAY IT'S IMPOSSIBLE THAT WE WON'T NEED A, UH, AN ARCHITECT FEE NOTE ON THIS ONE, BUT JUST KINDA GIVEN THE LARGER SIZE OF THE DEVELOPMENT, I WOULD SAY IT'S, IT'S PRETTY UNLIKELY, BUT ANYTHING'S POSSIBLE. SO, UH, BUT REGARDLESS, WE'RE NOT ASKING YOU GUYS FOR A MATCH LOAN, WE'RE NOT ASKING FOR CBG LOAN OR ANYTHING LIKE THAT. IT'S, IT'S REAL CUT AND DRY TAX TO BONDS AND TAX CREDIT. , THE NEXT SLIDE, UH, AND AGAIN, SAME BUSINESS DEAL IS THE ONE WE JUST TALKED ABOUT, WHICH IS VERY AKIN TO THE KEY DEAL THAT WE JUST CLOSED A COUPLE WEEKS AGO. UM, I WON'T READ ALL THAT OFF TO YOU MOSTLY BECAUSE I CAN'T SEE IT. UH, BUT I WILL TELL YOU THE SAME. ONE OTHER THING TO MENTION IS, UH, KIND OF THE SAME, UH, STRATEGY HERE AS FAR AS THE, THE BOND ISSUER GOES. WE'VE SUBMITTED AN APPLICATION WITH, YOU GUYS GOT AN MENT FROM YOU GUYS AND T-D-H-C-A SUBMITTED AN APPLICATION. I DON'T THINK WE'VE BEEN REACHED ON THIS ONE, BUT WE CLOSE, KIND OF, KIND OF CLOSE. UH, THIS ONE WILL BE INTERESTING TO SEE. UH, YEAH, I MENTIONED A COUPLE MINUTES AGO. WE SUBMITTED ABOUT TWO WEEKS AGO FOR PERMITTING. SO YOU GUYS ARE PROBABLY WELL AWARE. PERMITTING'S KIND OF THE BEAR THAT WE REALLY HAVE TO WORK THROUGH THAT KIND OF DICTATES TIMING OUTSIDE OF THE BOND RESERVATION. SO, UH, I THINK ONCE WE GET A FIRST ROUND OF COMMENTS, UH, BACK FROM THE REVIEWERS ON THE CIVIL AND ARCHITECTURE PLANS, THAT'LL REALLY PROBABLY GIVE US A PRETTY GOOD INDICATION OF WHAT THE EXACT TIMING IS. UH, BUT AS OF THIS CONVERSATION WE'RE, WE'RE MOVING FORWARD AND MOVING IN A DIRECTION WE'RE, UH, WE EXPECT TO BE IN A POSITION TO CLOSE BY THE END OF YEAR. SO REALLY JUST KINDA DEPENDS IN WHEN WE GET THE BOND RESERVATION WITH YOU GUYS AND KINDA WHAT PLAN OF ACTION WE WANT TO TAKE AND WHERE THINGS ARE AT. BUT THAT'S WHERE WE CURRENTLY STAND. UM, AND I THINK THAT'S THE LAST SLIDE HERE WE GO TO THE LAST YEP. OKAY. BUT HAPPY TO ANSWER QUESTIONS. HAPPY TO DISCUSS ANY OTHER INVOLVE THEM. I, I'VE GOT A FEW COMMENTS. I THINK THE FIRST TIME WE SAW THIS, THERE WAS A QUESTION, HAVE YOU HAD ANY FURTHER CONVERSATIONS WITH LANDOWNER? I KNOW THAT THERE IS BOTH TO PUT THINGS ALONG 20, BUT I THINK THE LOT JUST NORTH OF THE ROAD SITE, THERE WAS SOME QUESTION ABOUT WHAT'S HAPPENING THERE IF IT'S A INDUSTRIAL DUNCAN BROWN OR WHAT'S HAPPENING. DO, DO YOU HAVE ANY MORE CLARITY, UNDERSTANDING OF WHAT'S GOING ON WITH THERE? I DON'T KNOW ABOUT CLARITY. I, I WILL SAY THAT NOW COUNCIL MEMBER BLAIR WHO HAS TAKEN OPEN FOR MAYOR PROTON APPLICANTS, I, I KNOW THAT SHE'S MADE THAT A TOP PRIORITY. I TALKED TO HER ABOUT THAT EVEN, AND ACTUALLY BOTH OF 'EM ABOUT THAT BEFORE SHE EVEN ASSUMED OFF, ASSUME, UM, YOU KNOW, I THINK SHE WAS AWARE OF IT. I THINK THE STORY THAT SHE HAD GOTTEN SAID IT WAS SOME SORT OF A LEGAL DUMPING OR SOME SORT OF A LEGAL USE, I GUESS AT LEAST WAS TAKING PLACE. SHE TOLD, UM, LET ME TOUCH BASE WITH HER AND SEE WHAT THE LATEST WAS WHEN I TALKED TO HER. SHE WAS, SHE WAS REAL ADAMANT THAT SHE WAS GONNA BRING THAT TO A INVESTIGATION. SO IT'S POSSIBLE THAT SHE MAY HAVE, MAY HAVE ALREADY DONE THAT. I'M JUST NOT CERTAIN. I KNOW SHE'S KINDA HAD HER HANDS FULL HERE THE FIRST COUPLE WEEKS BEING IN OFFICE, BUT I CAN CHECK WITH HER THERE. AND JUST TO MAKE SURE WE'RE TALKING ABOUT THE SAME, YOU'RE TALKING ABOUT THE ONE THAT'S IMMEDIATELY NORTH OF CHAIR, THE NORTH PROPERTY LADDER ALL, IT'S JUST INTERESTING, RIGHT? 'CAUSE YOU'VE GOT HEMI ONE ZONING, BUT THEN YOU HAVE FAIRLY PERMISSIVE ZONING FURTHER AWAY YEAH. FROM THE SITE. I MEAN, YOU'RE GOING TO OF COURSE GO THROUGH THE ZONING PROCESS, BUT HAS THERE BEEN CONTEMPLATION ABOUT REZONING THE ENTIRE AREA? SO IT ACTUALLY WAS ABOUT NINE MONTHS AGO, IT WENT THROUGH HIS ZONING CHANGE PROCESS BEFORE I EVEN GOT INVOLVED WITH IT. SO THE, THE CURRENT PROPERTY OWNER, THEY'VE OWNED IT. THERE'S A GROUP OF I THINK FIVE OR SIX OF 'EM THAT HAVE OWNED IT FOR THE BETTER PART OF 30 YEARS. AND, UH, THEY'D ORIGINALLY TAKEN IT THROUGH A ZONING CHANGE PROCESS THAT CHANGED IT TO INDUSTRIAL. I DON'T, I THINK IT WAS OWNED OUR SEVEN FIVE SINGLE FAMILY BEFORE. UM, SO THEY HAD VOLUNTARILY TAKEN IT THROUGH THE ZONING CHANGE PROCESS, ATTEMPTED TO GET INDUSTRIAL ZONING, UH, WERE PROPERLY SHUT DOWN BY, AT THE TIME [00:35:01] CITY PLANNING COMMISSIONER BLAIR, UH, MAYOR PRO, TIM ATKINS, UH, IT WAS US INDUSTRIAL WAS SUPPOSED SOMETHING WANTED SEE ON THE SITE. SO ULTIMATELY STRUCK A COMPROMISE FOR M1. UH, AND I'D KNOWN ACTUALLY FROM THE UNT STATION PROJECT THAT YOU GUYS JUST SAW, THE BROKER THAT'S, UH, REPRESENTING THE SELLER ON THAT ONE, HE'S ACTUALLY INVOLVED, BOTH HIM AND HIS FATHER WERE INVOLVED IN THE OWNERSHIP OF THIS PROPERTY. UM, AND SO I'VE GOTTEN CONNECTED WITH HIM AND HE WAS TELLING ME ABOUT THIS PROCESS THEY WERE GOING THROUGH FOR THE ZONING CHANGE AND THAT'S HOW WE GOT INVOLVED IN THIS ONE. SO THEY SUCCESSFULLY TOOK IT THROUGH THE ZONING CHANGE PROCESS. IT ULTIMATELY JUST ENDED UP AS ZOOM ONE AND, UH, ONE STER MULTIFAMILY. RIGHT. SO NO, NO ZONING CHANGE NECESSARY. I JUST REALIZED THAT IT STARTED RAMBLING. NOW I DON'T KNOW IF I ANSWERED THE QUESTION, BUT I'LL APOLOGIZE. YEAH, I MEAN, I'M JUST WORRIED ABOUT THE OTHER PROPERTIES, THE ZONING CHANGES THAT THEY GOT THROUGH MEAN, IT SOUNDS LIKE COUNCIL BLAIR, COUNCIL BLAIR HAS A PRETTY GOOD HANDLE ON THAT. YEAH, SHE'S GOT HER HANDLE THOSE PULSE. OKAY. PRETTY GOOD, I WOULD SAY. BUT YOU'RE NOT WORRIED ABOUT, I MEAN, THE LAST THING WE WANT TO DO IS TO PUT AFFORDABLE HOUSING IN A SITUATION WHERE IT'S NOT NEAR GOOD AMENITIES FOR GOOD USES, RIGHT? YEAH. I I NOT ONLY, WELL, I SHOULDN'T SAY I'M NOT WORRIED ABOUT IT. I SHOULD SAY I'M AWARE OF IT, BUT I WOULD, I WOULD CONTEND AND HONESTLY, THIS PROJECT JUST GIVES MORE AMMUNITION TO, UH, COUNCILMAN BLAIR TO RESOLVE ANY ISSUES, WHETHER IT BE THAT OR ANYTHING ADJACENT, UH, THAT'S CAUSING PROBLEMS. JUST, YOU KNOW, IF THERE'S NEW DEVELOPMENT GOING ON, I THINK IT JUST GETS OUT, FOLKS GET DONE FROM, FROM AN AMENITY PERSPECTIVE. THE OTHER THING WE TALKED ABOUT BEFORE IS THERE'S A LACK OF SIDEWALKS, JUST PEDESTRIAN ACCESS TO THE SITE YEAH. ACROSS THE PARK. YEAH. FOR THAT MATTER. ANYWHERE ELSE. FOR SURE. TOTALLY AGREE WITH THAT. SO I WOULD TELL YOU THAT, UH, YOU KNOW, I ACTUALLY, UH, AS I WAS GETTING READY FOR THIS MEETING YESTERDAY AFTERNOON, I WAS KIND OF THINKING BACK SOME OF THE DISCUSSIONS THAT WE HAD WHEN WE BROUGHT IT FOR INDUCEMENT. I REMEMBER DIRECTOR PAGE WHO BROUGHT UP, OF COURSE, VERY SIMILAR COMMENT. YEAH. UH, AND ONE OF 'EM, ONE OF 'EM WAS EVEN MORE SPECIFIC THAT, UM, HE WAS WANTING TO SEE THE ACCESSIBILITY OF SIDEWALKS, BUT ALSO CONNECTIVITY ACROSS THE STREET. AND SO, UM, I CAN TELL YOU THAT PART OF OUR TRAFFIC PLAN PAVING AND DRAINAGE PLANS, ALL OF THE ENGINEERING THAT WE'VE JUST SUBMITTED, UM, PART OF WHAT WE'RE CONTEMPLATING WITH THE TRANSPORTATION DEPARTMENT IS, UH, I DON'T KNOW THE PROPER TERMINOLOGY FOR IT, BUT IT'S BASICALLY LIKE YOU'VE GOT A CROSSWALK, CROSS A BUTTON, FLASH TO THE SIGNS, LET PEOPLE KNOW JUST TO PROVIDE THAT CONNECTIVITY ACROSS THE STREET TO THE HORSE TRAILS, INTO THE HIKE AND BIKE TRAILS. UM, AS WELL AS, YOU KNOW, ANYTIME, AT LEAST IN MY EXPERIENCE, ANYTIME YOU'RE DOING A NEW CONSTRUCTION DEVELOPMENT WHERE THERE'S NOT SIDEWALK INFRASTRUCTURE, THEY'RE GONNA MAKE YOU DO, UH, AT LEAST A FIVE FOOT WIDE SIDEWALK, THE LENGTH OF YOUR PROPERTY THIS YEAR. THIS IS NO DIFFERENT HERE, I CAN TELL YOU. 'CAUSE WE'RE HAVING TO DO THE SAME THING. UH, AND I KNOW THE QUICK TRIP GUYS ARE AS WELL. SO I WOULD EXPECT, YOU KNOW, WE ONLY TAKE UP A REAL SMALL FRONTAGE PIECE OF, UH, DOWDY FERRY. TECHNICALLY, WE'VE GOT THE FLYING LOT OUT THERE, I WOULD EXPECT, AND WE'VE GOT A QUESTION IN TRANSPORTATION DEPARTMENT ABOUT THIS, THAT THEY'RE GONNA MAKE US BUILD THE SIDEWALK BUILDING TO CONNECT. 'CAUSE QUICK TRIP'S ALREADY THERE. THEY'RE BUILDING A SIDEWALK WITH THEIR DEVELOPMENT. THEN THERE'S, YOU KNOW, HOWEVER MANY LINEAR FOOT BEFORE YOU GET TO OUR PROPERTY LINE. SO THERE'D BE A BIG GAP. SO I WOULD EXPECT AM EXPECTING THAT TRANSPORTATION IS GONNA ASK US, REQUIRE US ON THE CONSTRUCTIVE FIVE FOOT WIDE SIDEWALK, SIDEWALK, THE WHOLE THING TO THAT PROPERTY. JAKE, IT'S MARCY AGAIN. UM, IS THERE GONNA BE MORE THAN ONE WAY IN AND OUT OF THE, OF THE PROPERTY? IT LOOKED LIKE THERE WAS JUST THE ONE ENTRANCE? GOOD QUESTION. THE ANSWER IS YES. THERE'LL BE MORE THAN ONE WAY OUT. IT PROBABLY WAS CUT OFF ON THAT SITE PLAN. SO THE WAY THAT THE QUICK TRIP DEVELOPMENT IS ORIENTED, IT'S GOT A SHARED USE DRIVE OFF OF DOWTY FERRY. YEAH. IT'S JUST OUTTA SIGHT THERE. UM, BUT IT'S GOT, IT'S GOT SHARED USE DRIVE THAT WE'LL CONNECT INTO. UH, SO THERE'LL BE TWO MEMES, UH, OF ENTRANCE AND EXIT ON THIS ONE. UH, AND WE'VE ACTUALLY CONTEMPLATED A THIRD, UH, THAT WOULD KIND OF BE IN BETWEEN THOSE, THROUGH THE, THE VACANT PROPERTY THAT FRONTS DOWDY FERRY. I JUST HAVEN'T BEEN ABLE TO NAIL DOWN OR COMMIT TO THAT YET BECAUSE I'M STILL TRYING TO FIGURE OUT EXACTLY THE LAYOUT, UM, KIND OF OF THOSE PAD SITES THAT ARE GONNA FRONT ON DOWDY FERRY. SO WHAT WE'LL LIKELY HAPPEN, WAIT, SO YOU'RE SAYING, YOU'RE SAYING YOU'RE SHOWING ONE, BUT, AND THERE WOULD BE LIKE ANOTHER ONE ALSO OFF OF DOWDY FERRY GOING, THAT'S MORE TO THE OTHER END OF THE DEVELOPMENT. IF YOU SEE ON THE SCREEN THERE WHERE IT SAYS THE LITTLE BUBBLE, IT SAYS PROJECT DATA, YOU YEAH, WE RUN RIGHT THROUGH THERE. I CAN TELL YOU THAT THE FIRE DEPARTMENT IS NOT GONNA ALLOW US TO HAVE A DEVELOPMENT. RIGHT. I [00:40:01] KNEW I WAS LOOKING AT THAT AND I'M THINKING, NO WAY CAN THEY JUST HAVE THAT ONE. UH, THAT'S A LIFE SAFETY ISSUE. SO THEY WOULDN'T, I MEAN, WE WOULDN'T TRY TO DO THAT. LET US ANYWAY. BUT YES, THE SHORT ANSWER WAS YES, THERE WILL BE AT LEAST TWO POINTS OF ENTRANCE AND EXIT, UH, AND POSSIBLY EVEN A THIRD, UH, KIND OF IN BETWEEN THOSE, BUT AT A MINIMUM THERE'LL BE TWO. OKAY, THANKS. AND ON THAT TOO, UH, THIS IS RYAN, THE SHARED USE ENTRANCE THAT'S SHARED WITH QUIKTRIP. DOES THAT INCLUDE, UM, EITHER A LIGHT OR CROSSING OVER DOWDY FERRY OR IS THAT JUST A, UM, AN IN AND OUT TO QUIKTRIP RIGHT NOW? I MAYBE NOT UNDERSTAND YOUR QUESTION. ARE YOU SAYING A LIGHT LIKE TRAFFIC SIGNAL? YEAH, NO, THE, SO THE, THE SHARED, AND IF I DON'T ANSWER YOUR QUESTION, LEMME KNOW OBVIOUSLY, BUT, SO THE SHARED ACCESS DRIVE ALREADY EXISTS IN OF RECORD WITH AN EASEMENT. MM-HMM . UH, IT'S JUST ON THE PRIVATE PROPERTY. I, I CAN'T SPEAK TO WHETHER OR NOT THERE'S ANY KIND OF TRAFFIC SIGNAL ENHANCEMENTS THAT'S COMING WITH, UH, WITH THE QUICKTRIP PROPERTY, BUT I CAN TELL YOU THERE'S NOT BEEN, AT LEAST AT THIS POINT, NONE HAVE BEEN REQUEST SOME OF US. THANKS. ANY MORE QUESTIONS? COMMENTS? RIGHT. WITH NONE BEING SAID, STATED, I WILL CALL TO MOTION TO APPROVE THE ITEM ALL MOTION. SECOND PAPER? YEP. UH, DIRECTOR SEAN ALLEN, DIRECTOR SHALANDA, OLA. SHOULD ABSTAIN. DIRECTOR JACK MARSHALL. SEE, OH NO ABSTAIN. TREASURER. TATIANA FARROW. TATIANA, ARE YOU THERE? IT'S FROZEN. SHE'S ON MUTE. S GETTING YOU ON MUTE. OH, COME BACK. SORRY. TATIANA, ARE YOU THERE? OKAY, THAT BACK DIRECTOR PATTY HOLLINS ABSTAIN DIRECTOR KEVIN HINTON, UH, ABSTAIN. UH, VICE PRESIDENT AND GARCIA, IT'S WAY PRESIDENT MARCY HEIN. I WOULD APPROVE DIRECTOR OLIVER ROBINSON, UH, APPROVE, UM, DIRECTOR RYAN MOORE AND DIRECTOR SEAN ZANEY. I'LL APPROVE. TATIANA, ARE YOU BACK? I'M BACK. SORRY. I APPROVE. OKAY. SO WITHOUT A PASSES AGAIN, HOW WE HAD, I COUNT FIVE. I COUNT FIVE. AND THEN WITH THE ABSTAINED, COUNT FOUR. YES, I PRESENT. AND WHAT WAS THAT? 1, 2, 3. GOT FIVE. FIVE. YES. CS , BOARD ABSTAINED. SO 10, IS THAT WHAT YOU GOT? TWO? YES. FOUR. ABSTENTIONS? NO. FIVE AND THEN FIVE. YEAH. TED COUNTING. RYAN? NO, THAT'S BRIAN'S THE BRIAN'S OKAY. SUGGESTION. SURE. THAT'S I THINK DON'T WE NEED A MAJORITY? YEAH, YOU NEED SIX. MAJORITY OF THE MEMBERS PRESENT. BUT IF YOU ABSTAIN, THEN DON'T YOU TAKE YOURSELF OUT. IF YOU ABSTAIN, THEN I MEAN, WE NEED A MAJORITY TO SAY YES. RIGHT? IF YOU ABSTAIN, YOU'RE STILL PRESENT. YOU STILL PRESENT, RIGHT. [00:45:01] 10 PRESENT. CORRECT. 10 PRESENT. ONLY FIVE ATE WELL. SO BRIAN COMES BACK. HE HAS RECUSED HIMSELF ON THIS. YEAH, HE RECUSED HIMSELF. SO HE, I DON'T, I DON'T THINK HE CAN VOTE. WELL, HE DIDN'T TECHNICALLY RECUSE HIMSELF. HE JUST HAS TO STEP AWAY, STEP TAKE. OH, OKAY. I THOUGHT HE RECUSED HIMSELF. SORRY. NO, HE ALSO DIDN'T HEAR THAT. NO. YEAH, HE WOULD BE THE DETERMINANT. IF WE CAN JUST WAIT ONE SECOND, XI AND GO SEE IF HE BACK . HE DIDN'T HEAR ANY. WELL, HE, HE SEEMED MATERIAL TRUE. HE SAID HE WOULDN'T BE READY TILL ONE THOUGH. LIKE HE HAS A CALL FROM 1230 TO ONE. YEAH. AND IF HE'S NOT ON VIDEO, LIKE HE'S NOT PRESENT AT THE MOMENT, HE WOULD HAVE TO COME BACK INTO, SO WOULDN'T THAT MEAN THERE'S NOT 10 PRESENT? THERE'S ONLY NINE PRESENT. WE HAVE A TOTAL OF 11. RYAN COMES IN. RIGHT. OH, OKAY. YOU HAVE 11 WITHOUT RYAN GARCIA? WE HAVE 10. 10 WITHOUT, WITHOUT 10. WITHOUT 11 WITH, YEAH. YEAH. SORRY. WE HAVE FOUR, ONE, NO, FIVE. YES. UH, ABSTENTION CHANGE. WE TAKE ABSTENTION WANTS TO CHANGE THE VOTE. IS THAT POSSIBLE? CAN AN ABSTENTION CHANGE YOUR VOTING ASSOCIATION? HAVE ANOTHER VOTE? I CAN HAVE ANOTHER VOTE. UH, DO I HAVE TO MOVE TO HAVE ANOTHER VOTE? JUST HAVE A MAYBE. HEY, RYAN, BOWEN , WHAT SHOULD WE BE DOING? COME IN. I THINK YOU CAN, YEAH, I WOULD CALL FOR ANOTHER VOTE. UM, I I I DON'T THINK YOU NECESSARILY HAVE TO, UM, VOTE ON HAVING ANOTHER VOTE. . RIGHT? ALL RIGHT. YOU SAID SORRY, I MOVED TO NO, NO LUCK, BRAXTON. NO, HE CAN'T COME ANY ON CALL. SO SHE'S SAYING THAT HE CAN MOVE TO RECONSIDER, BUT THAT HAS MOTION HAS TO BE DONE BY SOMEONE DEVOTED AGAINST FROM THE SIDE THAT DIDN'T PREVAIL. DIDN'T. SO, BUT THERE'S, SO IT DIDN'T CARRY, SO WE DIDN'T PREVAIL. SO YOU CAN MOVE TO RECONSIDER BECAUSE YOU VOTED NO, SEAN. RIGHT. THAT'D BE IT. CAN WE REVISIT THIS ITEM AFTER, UM, MOVING ON TO THE NEXT ITEM. THIS IS THE LAST SUBSTITUTE ITEM, RIGHT? WELL, I'LL MOVE MAYBE ONE OF THE, UH, ABSTENTIONS CHANGING THEIR VOTE. SO, YOU KNOW, I, I MOVE TO REVOTE, IF YOU WILL. I WAS GONNA ASK A QUESTION IN REGARDS TO THE SITUATION. SEEMS LIKE THERE'S SOME ISSUES REGARDS TO, PRIOR TO, IS THERE A WAY TO ADDRESS, MAYBE TO REPRESENT THIS PROJECT HAVING ADDRESSED THE ISSUES THAT ARE OF CONCERN? UH, TO BE REAL HONEST WITH YOU, I'M KINDA IN A POINT WITH MY LAND SELLER, BUT WE DEMONSTRATE SOME PROGRESS HERE AS FAR AS DHSC PARTNERSHIP, WHICH CAN JUST KINDA MAKES THE WHOLE BUDGET GO. UM, YOU KNOW, WHAT I WILL TELL YOU IS THAT JUST TOTALLY GROUP, I MEAN IT SITUATIONS IN THE PAST WHERE THERE'S BEEN UNCERTAINTY ABOUT A PROJECT THAT WE BROUGHT FORWARD, UH, WHETHER TRANSPORTATION, SIDEWALK, WHATEVER, UM, YOU KNOW, WE'VE KIND OF ENABLED TO LINES AND APPROACH AND SAY, HEY, HERE'S A WHOLE LAUNDRY LIST OF THINGS THAT WE WANNA SEE BEFORE WE ULTIMATELY OFFER FINAL ONE. WE, WE'LL, WE'LL APPROVE IT NOW AND LET YOU MOVE FORWARD, BUT, UM, YOU KNOW, IF WE WANT CONFIRMATION ABOUT THE SIDEWALK OR THE CONNECTIVITY OF THE HIKE BIKE TRAIL, WE COULD GET THAT. UH, AND OBVIOUSLY WE PROVIDE THAT IN ADVANCE A FINAL ORDER. THAT'S, THAT'S WHAT I WAS GONNA ADD. I MEAN, SO MAYBE WE JUST NEED TO AMEND THE MOTION TO INSERT A CONDITION. RIGHT. I I WAS GONNA SAY THAT WHAT JAKE SAID, THIS ISN'T FINAL APPROVAL, RIGHT? THE MOU. SO WE HAVEN'T DRAWN UP ANY DOCUMENTS YET. I'M, YOU'LL COME BACK. BUT IF WE DO GIVE THEM THE PRELIMINARY INDUCEMENT, RIGHT? IT GETS THE WHEEL SPINNING, RIGHT? YEAH. SO WE WON'T BE SPENDING SOME TIME ON THIS IF YOU GUYS HAVE APPROVE IT. BUT YOU KNOW, THERE ARE, THERE ARE LEGITIMATE AND CAN I THINK THIS AGAIN, THERE'S, THERE'S A LOT OF AMBIGUITY AROUND THE SITE AND IT HAS ERR ON ISSUES AND, AND GRANTED WE HAVE A NEW COUNSELOR PERSON WHO'S HAD EXPERIENCE WITH THE SITE, THINGS OF THAT SORT. BUT AS WE ALL KNOW, JUST BECAUSE YOU'VE BEEN A COUNSELOR PERSON DOESN'T MEAN THAT THAT'S GOING TO MAKE A SUBSTANTIVE DIFFERENCE AS IT RELATES TO THAT PARTICULAR SITE. AND I WOULD MUCH RATHER HAVE THOSE ITEMS ADDRESSED RATHER THAN, TO YOUR POINT, MOVING [00:50:01] FORWARD, GETTING APPROVED, PUTTING RESIDENTS THERE AND SUBJECTING THEM TO UNDESIRABLE CONDITION. THAT'S MY BIG CONCERN. GETTING RESIDENTS THERE, RIGHT? MM-HMM . GETTING RESIDENTS THERE DOESN'T, YOU WE'RE LIKE SEVERAL STAGES, RIGHT? BUT I MEAN, THERE'S A LOT OF WORK TO BE DONE. AND IF WE SAY FORWARD, THEN THEY, YOU KNOW, THERE'S MONEY, THERE'S COST AND THINGS THAT, SO THEN ULTIMATELY WE GET TO THE POINT WHERE WE FINAL, FINAL PROOF FOR IT, RIGHT? IT HASN'T BEEN DONE. WE REJECT THE DEAL AND WE WASTED A TON OF TIME. I MEAN, JUST, I SHOULD HAVE MENTIONED THIS IN THE PRESENTATIONS FOR BOTH. I MEAN, BOTH OF THESE HAVE ALREADY BEEN THE CITY COUNCIL AND CITY COUNCILS. JUST, JUST A WAY OF MAKING SURE THAT YOU GUYS HAVE ALL DATA. WHAT IS, WHAT IS THE TIMELINE ON IT? I MEAN, REALISTICALLY LIKE THIS ONE, I'VE EXPECT TO PULL US BY THE BREAK AROUND BY THE END OF YEAR, THAT DOESN'T MAKE THINGS QUICKER. YOU'RE NOT GONNA HAVE A AMOUNT OF TIME TO CONSIDER THIS. NO. YEAH. SO REALISTICALLY YOU'RE COMING BACK FOR AN MOU THREE MONTHS, TWO MONTHS FOR FINAL APPROVAL PROBABLY. SO, SO DOES SOMEONE WANNA AMEND THE MOTION TO PUT A CONDITION THAT, UH, THAT WE HAVE, UH, BETTER INFORMATION ABOUT THE USE OF THE SURROUNDING SITES? THE ADJACENT SITES? OR HOW DO YOU GET DIRECTOR ALLEN, YOU KNOW, HOW WOULD YOU, HOW WOULD YOU WORD YOUR CONCERN? WELL, THAT'S, I THINK, I THINK MY CONCERN IS WITH THE SITE DIRECTLY GOING, THAT'S MY BIGGER CONCERN. YOU KNOW, THAT THERE IS, I HAVE A CONCERN ABOUT WHAT HAPPENS WITH THAT SITE. AND IN THE ABSENCE OF HAVING SOME DEFINITIVE, UH, PLAN EITHER WITH THE LAND OWNER OR THE CITY, YOU KNOW, I JUST, I DON'T, I'M NOT COMFORTABLE WITH IT. AND SO IF WE DID PUT AN AMENDMENT IN IT, I DON'T KNOW. AND I, YOU KNOW, I DEFER TO YOU PRESIDENT, UH, OR MR. CHAIR AS TO HOW WE WOULD WORD THAT. UM, AND AGAIN, I I GET IT. I DON'T WANNA DELAY. WELL, WOULD THAT, WOULD THAT WORDING THAT I JUST SAID, WOULD THAT, UM, WOULD THAT WORK? THAT WOULD WORK. THAT WOULD WORK. I MEAN, I'M FINE WITH THAT. CAN YOU RESTATE THAT? ? I DON'T KNOW. , SORRY. UM, I WOULD RESTATE IT TO SAY CONDITIONED UPON US OBTAINING BETTER INFORMATION ON THE POTENTIAL USE OF THE, I GUESS, I GUESS YOU'RE SAYING DIRECTOR ALLEN, YOU'RE MOSTLY CONCERNED WITH THE POTENTIAL USE TO THE NORTH, DIRECTLY ADJACENT TO THIS SITE AND TO THE NORTH. THAT IS CORRECT. SO, SO I THINK WE WOULD HAVE TO, WE'D HAVE TO HAVE A MOTION AND A SECOND FOR THE AMENDMENT, I THINK, AND THEN VOTE. I THINK SEAN WILL HAVE TO MAKE THE MOTION TO RECONSIDER WITH THE AMENDMENT. I MOVE TO RECONSIDER WITH THE AMENDMENT AS STATED BY CHAIRMAN HEALTH PLAN TO ADDRESS SOME OF THE AMBIGUITY WITH REGARDS TO SITE DIRECTLY NORTH OF POST LOCATION. I'LL SECOND THAT. SO NOW I GUESS WE HAVE TO, SO WE VOTE NOW AS AMENDED OR DO WE HAVE TO VOTE TO APPROVE THE AMENDMENT FIRST AS AS AMENDED? AS AMENDED? I VOTE TO RECONSIDER WITH THE AMENDMENT. YEAH, TO RECONSIDER. SO, SO THE VOTE IS TO RECONSIDER WITH THE AMENDMENT? YES. OKAY. BECAUSE IT BAILED, BUT NOW IT'S TO RECONSIDER. RIGHT? HEY, THIS IS FUN. WE'VE NEVER DONE THIS BEFORE. WE HAVE NOT . SO SORRY. UM, SO I GUESS NOW WE CAN JUST DO THE ROLL CALL, RIGHT? YES. OKAY. VOTE TO AS AMENDED, RIGHT? YES. UH, DIRECTOR SEAN ALLEN IN FAVOR OF THE MOTION AS AMENDED. OKAY. UH, DIRECTOR SHALANDA OLA. I THINK I STILL ABSTAIN. OKAY. DIRECTOR JACK MARSHE TO APPROVE TREASURER TATIANA FARROW. ABSTAIN. WHERE WERE YOU EASTBOUND? UH, DIRECTOR PATTY COLLINS. APPROVE AS AMENDED. UH, SORRY. DIRECTOR KEVIN HINTON. UH, ABSTAIN. UM, PRESIDENT MARCY HEIN. APPROVE. APPROVE. SORRY. UH, DIRECTOR OLIVER ROBINSON. [00:55:01] DIRECTOR ROBINSON OLIVER, ARE YOU THERE? WE GOOD NOW? UH, OH. STAR COUNTY UHOH. OKAY. DIRECTOR BRIAN WAR APPROVE AND DIRECTOR SEAN SADIE APPROVE. AND BRIAN GARCIAS MAY AND BRIAN CAN NOW VOTE, CORRECT? HE DIDN'T KNOW HE'S VOTING ON? YES. OKAY. VOTING ON THE AMENDED APPROVAL FOR ATTORNEY FOR GATEWAY MOTION. WHO IS THE, THE, THE AMENDMENT WAS TO GET FURTHER CLARIFICATION OF THE PLAN, WHAT SITE DIRECTLY NORTH OF THE PROPOSED LOCATION. THERE'S STILL SOME TERMS OF THAT LEGAL, THAT DUMPING GOING ON. GOTCHA. OKAY. SO ANYTHING, ANYTHING I WERE TO EVOKE TO PROVE IS STILL PENDING AND IT STILL BE REVOKED ASSUMING IT'S A YOU, CORRECT. OKAY. YES. UM, OTHER THAN THAT, EVERYTHING ELSE IS THE SAME AS YES. OKAY. I WILL BOOK TO A GROUP. OKAY. THAT JUSTICE. ALL RIGHT. ALL RIGHT. OUR NEXT ITEM, ITEM NUMBER NINE, REVIEW AND DISCUSS THE DHFC. OH, THANK YOU JAKE, BY THE WAY. YEP. THANK YOU YOUR HONOR. REVIEWING AND DISCUSSION OF DHFT TREASURER'S REPORT FOR THE THREE MONTH PERIOD ENDING ON MARCH 30TH, 2025. HAVE SHANNON ONLINE? YES, SHE, WE RESOLVE? YES, SHANNON, I'M HERE. SO THIS IS FOR THE THREE MONTHS ENDED MARCH 31ST, 2025. UM, JUST TO LET Y'ALL KNOW, KEY ITEMS HERE. CASH AND CASH EQUIVALENTS AS OF THIS FIRST QUARTER IN, WERE UH, RIGHT OVER 20.4 MILLION AS COMPARED TO 18.47 AT, UH, DECEMBER 31ST. WE'VE KIND OF GONE OVER THE REASONS FOR THE INCREASE IN THIS QUARTER BEFORE. UH, JUST SO YOU KNOW, THERE WERE, YOU KNOW, OF COURSE SOME ADDITIONAL ADMIN FEES RECEIVED SOME CLOSINGS. INTEREST INCOME CONTINUES TO BE, UH, A, A, A MAJOR FACTOR IN THIS WITH UH, CLOSE TO 168,000 EARNED IN JUST THESE THREE MONTHS ON YOUR INVESTMENTS. AND UH, YOUR TOTAL INCOME FOR THESE THREE MONTHS WAS 1.9 MILLION AS COMPARED TO 1.8 IN THIS SAME PERIOD OF TIME IN 2023. AND AS FAR AS COMPARING ACTUAL 24 TO BUDGETED 24 FOR THESE THREE MONTHS, YOU'RE APPROXIMATELY 733 OH DOLLARS AHEAD OF BUDGET AT THIS POINT. EXPENSES FOR THESE THREE MONTHS ARE RIGHT AROUND $197,000. 197 IF I CAN SAY IT WITHOUT STUTTERING. AND UH, ACTUAL EXPENSES ON A CASH BASIS WERE 24,000. UH, THAT'S DUE TO PRIMARILY SOME LARGE PAYABLES THAT CONTINUE TO ACCRUE RELATED TO CITY OF DALLAS, UH, PAYROLL AS WELL AS UM, SOME OF OUR ACCOUNTING FEES. BUT MOST OF IT, THE VAST MAJORITY OF ANY ACCOUNTS PAYABLE HAS TO DO WITH AMOUNTS DUE TO THE CITY OF DALLAS. UH, THE ACTUAL NET CHANGE IN FINANCIAL POSITION FOR THESE THREE MONTHS, UH, IS $1,559,549. ARE THERE ANY QUESTIONS? SHANNON, THIS IS MARCY. UM, SO WE'RE HERE IN JULY AND GETTING THESE END OF MARCH FINANCIALS. UM, WILL WE BE GETTING CLOSER AS WE, YOU KNOW, AS AT OUR NEXT MEETINGS? WILL WE BE GETTING CLOSER TO HAVING FINANCIALS THAT ARE MORE CURRENT? YES. YES IT HAS BEEN. UM, THERE'S JUST BEEN A DELAY IN US RECEIVING THE NECESSARY ITEMS TO BE ABLE TO PREPARE THEM. UM, BASICALLY THERE WE ARE, I BELIEVE WE HAVE EVERYTHING WE NEED TO DO APRIL AND MOST OF MAY AT THIS POINT. WE'VE NOT RECEIVED ANYTHING ON JUNE YET. SO REALLY IT'S JUST BEEN, YOU KNOW, AVAILABILITY I THINK ON THE HFCS PART OF THEIR STAFF FOCUSED, UH, ELSEWHERE OR JUST UNAVAILABILITY OF SOME ITEMS I REALLY CAN'T SPEAK TO, TO THAT PART. BUT UH, WE TYPICALLY CAN GET IT OUT WITHIN ONE MONTH. SO WE SHOULD BE ABLE TO CATCH UP. UM, AS FAR AS WE HAVE MATERIALS. SO THOSE MATERIALS, THEY'RE NOT JUST LIKE BANK STATEMENTS? NO MA'AM. BECAUSE WE, A LOT OF THE TIMES WE NEED THE TO [01:00:01] KNOW WHAT IS UNDERLYING THAT. I MEAN, YOU KNOW, YOU THINK ABOUT WHAT SHOWS UP ON YOUR TYPICAL BANK STATEMENT, IT'S THE DOLLAR AMOUNT WIRES IN, CHECKS OUT OR NOT CHECKS. SO MUCH AS AACH H IS OUT, THERE'S NOT ENOUGH DETAIL TO THAT. UH, THERE HAS TO BE INPUT FROM THAT. ALSO, OF COURSE, IF THERE'S NEW DEALS THAT HAVE CLOSED DURING THOSE MONTHS, UM, OR UH, THINGS LIKE THAT OF THAT NATURE, YOU KNOW, WE'RE FOLLOWING UP AT THAT POINT ONCE WE SEE ON THE BANK STATEMENT. IF WE'RE NOT, MOST OF THE TIME BECAUSE I'M IN THESE MEETINGS, I'M AWARE OF WHEN CLOSINGS OCCUR AND I'M IN COMMUNICATION WITH ATTORNEYS TO GET TRANSCRIPTS. SO THAT'S TYPICALLY NOT THE ISSUE. IT'S REALLY JUST UNDERSTANDING SOME OF THE DETAIL BEHIND WHAT'S SHOWING UP ON THE BANK STATEMENTS. YEAH. BUT AT THIS POINT WE DON'T HAVE ACCESS TO VIEW AND PULL DOWN BANK STATEMENTS. I UNDERSTAND WITH THE POTENTIAL CHANGE THAT THAT MAY BE OCCURRING AND THAT WILL MAKE IT, I BELIEVE, UH, SPEED UP. OH, OKAY. SO TURNAROUND, I WAS AWARE OF THAT. AND UM, AND DO YOU, LIKE WHEN WE HAVE THE CLOSINGS, DO YOU USUALLY GET THE SETTLEMENT STATEMENT? IS THAT KIND OF WHAT YOU PULL OFF OF? I ACTUALLY TAKE THE FULL TRANSCRIPT, UM, THAT BECAUSE THERE'S SO MANY DIFFERENT AGREEMENTS FOR POTENTIALLY BESIDES THE SETTLEMENT STATEMENT, THE GROUND LEASE, THERE'S JUST MULTIPLE AGREEMENTS WITHIN THERE THAT POTENTIALLY COULD HAVE ACCOUNTING IMPACT. SO WE PULLED THE WHOLE TRANSCRIPT. YEAH. OKAY. OR WE'RE GIVEN THE WHOLE TRANSCRIPT. YEAH. OKAY. OKAY. ALRIGHT. JUST CURIOUS WHY, YOU KNOW, IT WOULD BE NICE IF WE HAD SOMETHING MORE CURRENT. THANKS. ALRIGHT, THANK YOU. THANKS SHANNON. UH, UNLESS THERE ARE ANY OTHER QUESTIONS, WE'LL MOVE ON. OH, CERTAINLY. UM, ANYONE HAVE ANY OTHER QUESTIONS? NO. OKAY. WE'LL MOVE ON TO ITEM 10 REVIEW AND DISCUSSION WITH THE CORPORATIONS PIPELINE REPORT AS OF JULY 15TH, 2025. OKAY, WONDERFUL. SO THIS LAST MONTH WE ACTUALLY WE'LL BE CLOSING A DEAL TOMORROW WE CLOSED DEAL, WE CLOSED THE CASE DEAL AND THE HIGH LINE IN THE . SO A LOT OF CHECKS WON IN THE LAST COUPLE MONTHS. UM, OUR PIPELINE IS OBVIOUSLY HEALTHY. WE GOT PLENTY OF STUFF THAT'S, THAT'S COMING OVER THE NEXT COUPLE MONTHS SPACE. THEN I'M ASSUMING NOW SINCE WE'RE GETTING INTO AUGUST NEXT MONTH AND THEN SEPTEMBER, WE'RE GONNA BE RECEIVING A LOT MORE INDUCEMENT APPLICATIONS. SO JUST BE AWARE, THOSE ARE PROBABLY ON THE WAY. I HAVEN'T HAD ANY OFFICIAL APPLICATIONS YET, BUT WE ALWAYS DID RIGHT THEN. SO, UH, HOPEFULLY WE CAN, WE CAN KEEP OUR PIPELINE ROBUST THERE ALONG ANY SPECIFIC QUESTION YOU GET ON HERE ABOUT ANYONE? ANYONE ONLINE? NOPE. THAT'S IT. THANK YOU. SO WE HAVE COME TO THE END OF OUR AGENDA THEN. UH, SO IT IS 1:05 PM AND WE CALL THIS MEETING AJOUR. THANK YOU. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.