* 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.
          [00:00:01]
          WE HAVE A FORUM. 
          WE CALL 
          [Dallas Downtown Connection TIF District Board of Directors Meeting on September 30, 2025.]
THIS MEETING ORDER THE MEETING, THE DOWNTOWN CONNECTION DISTRICT FOR THE DOWNTOWN DALLAS DEVELOPMENT AUTHORITY FOR SEPTEMBER 30TH AT 2:08 PM OKAY. 
          SO WE'LL GO, UM, YOU JUST A MOTION  ACTUALLY CHAIR OF THE MEETING SINCE BILLY IS NOT I, BILLY IS, HE'S NOT, HE'S NOT HERE IN FIRST. 
          SO AS A MATTER OF PROTOCOL, WE DO NOT NEED MOTIONS. 
          AS THE ONLY ONE CHAIR I CHAIR OF THE SPECIAL CALL MEETING, WE'LL DO INTRODUCTION OF THE MEETING PARTICIPANTS. 
          UM, WE'LL START HERE IN THE ROOM AND THEY GO AROUND THE TABLE, AROUND THE ROOM. 
          AND THEN WE'LL GO TO OUR, UM, COMMITTEE MEMBERS OR BOARD MEMBERS THAT HAVE JOINED VIRTUALLY AND THEN ADDITIONAL ATTENDEES. 
          SO MY NAME IS TAM . 
          I AM INTERIM ASSISTANT DIRECTOR IN THE OFFICE OF ECONOMIC DEVELOPMENT. 
          SO MICHAEL , . 
          KEVIN JOSEPH PITCHFORD, UH, BOARD CHAIR C REAL ESTATE. 
          UM, LET'S START WITH BILLY. 
          UM, BILLY PRUITT, UH, BOARD MEMBER AND, UH, WITH PAC HELM. 
          THANK YOU. 
          UM, JOHN. 
          HI. 
          JOHN PERRY, DOWNTOWN TIFF. 
          THANK YOU, LUIS. 
          I'M LUIS DAM, DALLAS COUNTY. 
          AND NICK, NICK SEAMAN PETTING SEED COMPANIES. 
          ARTURO ARTURO DEL CASTILLO, PLANNING AND DEVELOPMENT CITY DALLAS. 
          THANK YOU. 
          AND WE HAVE ILEANA WHO IS OUR, UH, TECHNICAL EXPERT WHO'S HELPING US IN RUNNING THIS MEETING FOR US TODAY. 
          AND WITH THAT CHAIR, UM, WE CAN MOVE TO ITEM NUMBER FIVE FOUR. 
          OKAY. 
          SORRY. 
          WE'LL DO THE PUBLIC COMMENTS PRIOR TO THE MEETING. 
          THIS. 
          OKAY. 
          ITEM NUMBER FOUR, PUBLIC COMMENTS PERTAINING TO AGENDA ITEMS FIVE THROUGH 10. 
          YEAH, WE'LL MAKE A COMMENT. 
          UH, SO, UH, JUST REAL QUICKLY, I WANTED TO SAY, UH, DOWNTOWN DALLAS SAINTS BEEN REALLY FOCUSED ON REDEVELOPMENT OF OUR, UH, CLASS A OFFICE TOWERS. 
          I THINK THE VACANCY IN DOWNTOWN IS SOMETHING THAT WE'RE ALL AWARE OF. 
          UM, IT'S A CHALLENGE WE'RE GONNA SEE MOVING FORWARD. 
          THIS PROJECT TODAY REPRESENTS ONE OF THE FIRST, YOU KNOW, OVER A MILLION SQUARE FOOT TOWERS. 
          IT'S GONNA BE MOVING FORWARD WITH A REDEVELOPMENT PROPOSAL TO TAKE SOME OF THAT SYSTEMIC SQUARE VACANCY OFFLINE, ADDING USES INTO THE BUILDING. 
          UM, AND UH, I WILL MENTION, YOU KNOW, WE'VE PERFORMED A STUDY WITH OUTSIDE CONSULT, LOOKING AT ALL THE BUILDING STOCK. 
          WE EXPECT TO SEE MORE THESE COME FORWARD. 
          UH, WE THINK IT'S IMPORTANT. 
          WE THINK IT HAS A RETURN ON TAXABLE VALUE TO THE CITY. 
          UH, BUT THEY EXHIBIT A VERY CLEAR NEED FOR PUBLIC SUBSIDY TO AUGMENT CONVENTIONAL FINANCING. 
          AND SO, UM, YOU KNOW, WE'RE VERY SUPPORTIVE, THIS PROJECT GOING FORWARD. 
          UH, AND WE'LL BE HERE TO CONTINUE TO SPEAK AND HAVING SHARED ADDITIONAL INFORMATION FROM OUR, OUR RESEARCH AND OUR WORK WITH OUR BUILDING. 
          THANK YOU. 
          OKAY. 
          BEFORE THE RECORD, YOU, YOU'RE REFERENCING ITEM, WHAT'S THAT ON THE WRONG ITEM? NO, I'M JUST CLARIFYING. 
          YES, THAT IS CORRECT. 
          IT IS, IS NOT NINE ONE. 
          YES, COMMENT. 
          OKAY. 
          UH, MOVING ON TO ITEM FIVE, THE REVIEW AND CONSIDERATION OF THE MEETING MINUTES, WHICH EVERYONE HAS IN THEIR, UH, PACKAGE. 
          OUR MEETING FROM APRIL 1ST, FIVE. 
          AND IF YOU WANNA TAKE A MINUTE TO REVIEW AND I'LL TAKE A MOTION ON REVIEW. 
          SO WE'RE LOOKING FOR A MOTION TO APPROVE THE MINUTES. 
          WE ARE. 
          I SO MOVED. 
          OKAY. 
          I WILL SECOND, UH, MOTION BUT POST SECONDING. 
          I'LL ASK FOR ONE CORRECTION PLEASE. 
          CAN WE CORRECT THE SPELLING OF MR. SEAMAN'S NAME? UH, JUST ABOVE ITEM EIGHT. 
          NICK, I'M LOOKING OUT FOR YOUR SPELLING, EVEN IF YOU ARE NOT. 
          I SAW IT AND I APPRECIATE IT. 
          ALRIGHT. 
          YOU WERE, YOU WERE SILENT THAT I ALSO WANTED, UH, COMMENCE AMBER FOR PUTTING IN THE REVISED COPY OF THE MINUTES. 
          UM, MY SHOUT OUT TO DALLAS FIRE RESCUE. 
          ILEANA, DO 
          [00:05:01]
YOU MIND PULLING UP THE MEETING PACKET ON SCREEN FOR THE BOARD MEMBERS AND WHAT, UM, THE CHAIR IS REFERRING TO IS AT THE END OF LAST, UH, MONTH'S MEETING, HE REQUEST REQUESTED SPECIFICALLY THAT THE RECORD REFLECT HIS THANKS, UM, AND APPRECIATION OF THE DALLAS FIRE RESCUE AND THE SERVICE THAT THEY PROVIDE TO THE CITY, WHICH I, UH, FORGOT TO ADD TO YOUR PACKET THAT I SENT OUT LAST WEEK, BUT IT IS IN THE MINUTES NOW AND I WILL, UH, CORRECT THE SPELLING OF MR. SEAMAN'S NAME, UM, UPON APPROVAL. 
          OKAY. 
          THAT MOTION, A SECOND BOARD DISCUSSION. 
          ALL IN FAVOR OF APPROVAL OF THE APRIL 1ST. 
          I NEED A SECOND. 
          I SECOND. 
          OKAY. 
          UH, ALL IN FAVOR OF APPROVAL OF THE APRIL 1ST MEETING. 
          MINUTES, AYE. 
          AYE. 
          AYE. 
          AYE. 
          ANY OPPOSED? SO APPROVED. 
          THANK YOU. 
          MOVING ON TO ITEM SIX, THE CONSIDERATION OF THE APPOINTMENT OF THE DIRECTOR OF OFFICE OF ECONOMIC DEVELOPMENT, EVAN STAFF TO THE POSITION OF TREASURER FOR THE DOWNTOWN DALLAS DEVELOPMENT AUTHORITY. 
          MS. LEE, THANK YOU. 
          UM, IN YOUR PACKET, I SUBMITTED A MEMO, UM, REQUESTING THE APPOINTMENT OF KEVIN STAFF, WHO WAS RECENTLY, UM, PERMANENTLY APPOINTED THE DIRECTOR OF THE OFFICE OF ECONOMIC DEVELOPMENT. 
          PRIOR TO HIM, ROBIN BENTLEY WAS THE DIRECTOR AND SHE SERVED AS THE TREASURER FOR THE DOWNTOWN DALLAS DEVELOPMENT AUTHORITY. 
          UM, THE DOWNTOWN DALLAS DEVELOPMENT AUTHORITY WAS CREATED TO ISSUE BONDS FOR THIS DISTRICT BACK IN 2005 AS PART OF OUR ANNUAL PROCESS IN INCREMENT COLLECTION. 
          WHEN WE RECEIVE THE INCREMENT FROM, UM, THE TIF DISTRICT AND IT'S DEPOSITED IN THE CITY, THE FIRST THING WE DO IS SEND THAT INCREMENT TO THE TRUSTEE FOR THE BONDS, FOR THEM TO TAKE OUT THEIR FEES, AND FOR THEM TO MAKE THE DEBT SERVICE PAYMENTS. 
          IN ORDER TO GET THOSE FUNDS BACK, WE HAVE TO HAVE AN AUTHORIZED SIGNATORY TO REQUEST THE FUNDS BACK THAT WE CAN THEN USE TO PAY, UM, ANY OBLIGATIONS WE HAVE FOR, UH, DEVELOPMENT PROJECTS THAT HAVE COMPLETED WITHIN THE DISTRICT. 
          UM, IN PRIOR YEARS, WE HAD BOARD MEMBERS THAT WERE THE AUTHORIZED SIGNATORIES, BUT WE HAD, UH, TROUBLE CATCHING UP WITH THE BOARD MEMBERS, ESPECIALLY SINCE WE TYPICALLY RECEIVE THE INCREMENT IN THE JUNE JULY TIMEFRAME. 
          AND SO, UM, ONE WAY TO FIX THAT IS WE DO HAVE A TREASURER POSITION THAT'S WITHIN THE BYLAWS, AND THE TREASURER IS ALLOWED TO, UM, BE AN AUTHORIZED SIGNATORY FOR THE BOARD, AND THEY DO NOT NECESSARILY HAVE TO BE A MEMBER OF THE BOARD. 
          AND ELIANA, IF YOU'LL, UM, PULL BACK UP THE PACKET AND JUST KEEP IT UP. 
          AND SO I, UM, AT HIGHLIGHTED WITHIN THE BYLAWS WHERE IT IS ALLOWED FOR THE TREASURER TO GIVE A SIGNATORY AND ALSO NOT BE A PART OF THE BOARD. 
          AND SO WHAT THIS DOES ALLOWS US TO BE ABLE TO WORK MORE EFFICIENTLY, UM, NOT HUNT DOWN TIP BOARD MEMBERS DURING THE SUMMER WHEN THEY'RE VACATIONING AND WE'RE ABLE TO PROMPTLY PAY, UM, ANYONE WHO WAS IN OUR REIMBURSEMENT QUEUE BY HAVING THE DIRECTOR OF THE OFFICE OF ECONOMIC DEVELOPMENT SIGN ANY NECESSARY. 
          SO THIS ACTION WOULD NOW APPOINT TEDMAN STAFF AS THE TREASURER FOR THE DDDA THERE. 
          ANY QUESTIONS? I'M HAPPY TO ANSWER. 
          YOU'LL SCROLL DOWN UNTIL YOU SEE AN ORANGE HIGHLIGHT. 
          LEANNA, RIGHT THERE. 
          IT'S, SO IN SECTION FOUR IS THE TREASURER SECTION. 
          IN THE VERY LAST, UH, SENTENCE, DOES THE TREASURER NEED NOT BE A MEMBER OF THE BOARD? AND WITH THAT, IF ANYONE HAS ANY QUESTIONS, NOT A QUESTION MS, BUT A BUT A SHA OR EVEN A QUESTION OF THE FELLOW BOARD MEMBERS. 
          BOARD MEMBERS, THIS, IT'S VERY CLEAR THROUGH THE BYLAWS THAT THE TREASURER NOT NEED TO BE A MEMBER OF THE BOARD. 
          AND MS. LEE MADE IT QUITE CLEAR THAT THAT'S GONNA BE A LOT EASIER FOR, UH, STAFF TO CHASE DOWN A, WHO IS, UH, A MEMBER OF STATE STAFF RATHER THAN A MEMBER OF OUR BOARD. 
          THAT SAID, IF THERE IS A MEMBER OF THE BOARD PRESENT WHO WOULD LIKE TO MAKE A LIGHTNING FAST CAMPAIGN FOR THE SEAT OF TREASURER, UH, I WOULD, I WOULD LIKE TO HEAR IT. 
          UH, AND IF NOT, WE CAN PROCEED WITH THE ITEM. 
          NOTHING. 
          LET THE RECORD REFLECT THAT WE HAD OUR CHANCE, 
          [00:10:02]
UH, AND WE'D LIKE TO PROCEED WITH A VOTE ON ITEM SIX. 
          CAN I GET A MOTION FOR THE APPOINTMENT OF KEVIN SPA, THE, UH, ROLE OF TREASURER OF THE DOWNTOWN DALLAS DEVELOPMENT AUTHORITY? I MOVE THAT WE APPOINT KEVIN SPA AS TREASURER OF THE DOWNTOWN DALLAS DEVELOPMENT AUTHORITY. 
          THANK YOU, BILL. 
          WE HAVE A MOTION. 
          CAN WE GET A SECOND? SECOND. 
          THANK YOU NICK. 
          I MOTION SECOND. 
          ANY DISCUSSION? QUICK DISCUSSION QUESTION. 
          I DON'T KNOW IF I CAN VOTE ON THIS ITEM. 
          IS THAT CORRECT, TAMARA? CORRECT. 
          YOU ARE NOT A MEMBER OF THE DDDA. 
          FANTASTIC. 
          LUIS, THANK YOU FOR NOTICING THAT. 
          OKAY. 
          UH, YOU CAN VOTE, UH, AND COMMENT ANY DISCUSSION. 
          OKAY. 
          UH, WE'LL CALL FOR VOTE. 
          ALL IN FAVOR OF THE APPOINTMENT OF KEVIN STAFF TREASURER OF THE DDA SAY AYE. 
          AYE. 
          AYE. 
          ANY OPPOSED? MOTION CARRIES. 
          THANK YOU. 
          MOVING ON TO ITEM SEVEN. 
          I WILL READ INTO THE RECORD. 
          ITEM SEVEN, RESCIND THE RECOMMENDATION MADE ON AUGUST 29TH, 2024 BY THE DOWNTOWN CONNECTION TIP DISTRICT BOARD OF RECORDS FOR APPROVAL FOR A TAX AND DEVELOPMENT AGREEMENT AND ALL OF THE NECESSARY DOCUMENTS WITH THIS, WITH SUPREME BRIGHT FOR LLC AND OR ITS AFFILIATES IN AN AMOUNT NOT TO EXCEED $40 MILLION PAYABLE FROM CURRENT AND FUTURE DOWNTOWN CONNECTIONS SUB-DISTRICT FUNDS. 
          IN CONSIDERATION OF THE MAGNOLIA BUILDING REDEVELOPMENT PROJECT CURRENTLY ADDRESSED AS 1401 COMMERCE STREET. 
          MS. LEE, THANK YOU. 
          AND WITH THIS THERE, THERE ISN'T MUCH PRESENTATION OR DISCUSSION. 
          UM, THE PROJECT THAT WE REVIEWED BACK ON AUGUST 29TH DID NOT OCCUR. 
          UM, THE PROPERTY IS ACTUALLY, UM, UNDER CONTRACT FOR SALE AND WE HAVE RECEIVED AN INCENTIVE APPLICATION FOR REDEVELOPMENT OF THE BUILDING, WHICH WILL BE A TOTALLY DIFFERENT PROJECT. 
          AND SO, UH, WE'D LIKE TO OFFICIALLY RESCIND THE BOARD'S RECOMMENDATION SO THAT WHEN WE COME BACK TO YOU FOR, UM, THE NEW REQUEST THAT WILL NOT BE, UM, HANGING OUT THERE. 
          AND SO THIS IS MORE OF AN ADMINISTRATIVE TYPE OF CLEANUP. 
          ARE THERE ANY QUESTIONS? ALRIGHT, I'LL ASK FOR MOTION THEN ON ITEM SEVEN TO RESCIND, UH, AUGUST 29TH, 2024. 
          RECOMMENDATION AS READ TO RECORD. 
          SO MOVE MOTION NICK AND HENRY. 
          MOTION. 
          I THINK BILLY MADE THE MOTION AND NICK SECONDED THE MOTION? SURE. 
          YES. 
          OKAY. 
          THANK YOU MAYOR. 
          MOTION. 
          WE HAVE A SECOND. 
          ANY DISCUSSION ON THE MOTION FOR ITEM NUMBER SEVEN? OKAY. 
          AND EVERYONE PRESENT CAN VOTE ON THIS ITEM. 
          OKAY. 
          ALL IN FAVOR OF RESCIND THE RECOMMENDATION THAT READ THE RECORD. 
          SAY AYE, PLEASE. 
          AYE. 
          AYE. 
          AYE. 
          ANY OPPOSED? MOTION CARRIES. 
          UNANIM. 
          THANK YOU. 
          UH, MS. LEE, DO I NEED A MOTION TO CONSIDER EIGHT NINE TOGETHER? OKAY. 
          I WOULD RECOMMEND THAT WE CONSIDER ITEMS EIGHT AND NINE TOGETHER. 
          THAT'S HOW THE STAFF PACKET IS PRESENTED AND HOW THE STAFF CONTEMPLATED IT. 
          SO I, I WOULD LIKE, I CAN MAKE THAT MOTION CORRECT. 
          OH, OKAY. 
          I'D LIKE A MOTION THEN PLEASE, FOR THE BOARD MEMBERS TO CONSIDER ITEMS EIGHT AND NINE. 
          TOGETHER WE HAVE MOTION, UH, OR, UH, SO MOVED, UH, BILLY CREW ON A ROLL. 
          UM, BILLY'S MADE A MOTION. 
          DO WE HAVE A SECOND TO CONSIDER ITEMS EIGHT OR NINE TOGETHER? I SECOND. 
          SECOND. 
          THANK YOU, JUDGE. 
          OKAY, I PERRY, SECONDS. 
          UH, ALL IN FAVOR OF CONSIDERATION OF EIGHT AND NINE TOGETHER SAY AYE. 
          AYE. 
          AYE. 
          AYE. 
          AND ANY OPPOSED? MOTION CARRIED. 
          UNANIM, CONSIDER EIGHT AND NINE TOGETHER. 
          MS. LEE, HOW WOULD YOU LIKE ME TO READ THEM INTO THE RECORD CONCURRENTLY OR YES. 
          COULD YOU READ BOTH  PRESENTATION FROM THE DEVELOP AND THEN 
          [00:15:02]
PACKET THAT WILL SPEAK TO THE AMENDMENT OF THE DISTRICT AND THEN STAFF'S RECOMMENDATION, TURN IT OVER TO YOU AFTER READ. 
          OKAY. 
          UH, ITEM EIGHT, REVIEW AND CONSIDER AMENDMENT OF THE PROJECT PLAN AND REINVEST IN ZONE FINANCING PLAN FOR TAX INCREMENT REINVESTMENT. 
          ZONE NUMBER 11, THE DOWNTOWN CONNECTION, TAX AND FINANCING DISTRICT TWO ONE, INCREASE THE GEOGRAPHIC AREA OF THE DOWNTOWN CONNECTION SUBDISTRICT OF THE ZONE BY APPROXIMATELY 1.54 ACRES AND TWO, MAKE CORRESPONDING MODIFICATIONS TO THE ZONE'S BOUNDARY AND CLAIM. 
          THAT IS I AMAZED. 
          ITEM NINE, REVIEW AND CONSIDER A SHIFT DEVELOPMENT AGREEMENT WITH 9 0 1 MAIN PAHG PARK, LLCA TEXAS LIMITED LIABILITY COMPANY AND OR ITS AFFILIATES IN THE AMOUNT NOT TO EXCEED $98 MILLION PAYABLE FROM EXISTING AND FUTURE DOWNTOWN CONNECTION SUBDISTRICT FUNDS IN CONSIDERATION OF THE 9 0 1 MAIN BUILDING REDEVELOPMENT PROJECT CURRENTLY ADDRESSED AS NINE OH NINE HUNDRED AND NINE OH ONE MAIN STREET. 
          THANK YOU CHAIR. 
          AND I'LL MAKE ONE CORRECTION. 
          THE ADDRESSES ARE NINE HUNDRED AND NINE OH ONE MAIN STREET AND 9 0 9 COMMERCE STREET. 
          UM, IT'S A SMALL SLIVER OF A PROPERTY THAT MISSED WHEN THIS WAS SENT OUT TO YOU. 
          AND SO THE ADDRESSES FOR THE PROJECT ON ITEM NUMBER NINE IS NINE HUNDRED AND NINE OH ONE MAIN STREET AND 9 0 9 MAIN STREET. 
          AND AT THIS TIME WE WILL TURN IT OVER TO THE BELFORD GROUP PROJECT, PROPOSED PROJECT TO MAKE BRIEF PRESENTATION, AFTER WHICH I WILL, UM, COME BACK TO THE BOARD AND BRIEF THEM ON THE PROPOSED AMENDMENT OF THE DOWNTOWN CONNECTION, TIFF DISTRICT AND THE PROJECT AND STAFF'S RECOMMENDATION FOR PARTICIPATION IN THE PROJECT. 
          UH, AGAIN, MY NAME IS MIKE LON WITH PELON. 
          I'M REPRESENTING, UH, PA HG PARTNERS, WHICH IS PELON AND LOCAL PARTNERS. 
          THANK YOU FOR SERVING, UH, ON THE SUPPORT. 
          THANK YOU FOR, UM, HAVING US HERE TODAY. 
          UM, I THINK, UH, EVERYBODY HERE IS FAIRLY FAMILIAR WITH THE PROJECT. 
          UM, REALLY APPRECIATE MR. SHEET'S, UH, COMMENTS FROM DBI AND IN SUPPORT OF, UM, THE PROJECT. 
          I'M NOT GONNA TALK ABOUT DOWNTOWN AND WHAT THE ISSUES ARE BECAUSE EVERYBODY'S HERE, BECAUSE THEY'RE RELEVANT, THEY'VE BEEN LIVING IT, THEY'VE BEEN WORKING ON IT AS LONG AS THE REST OF US HAVE AND MUCH APPRECIATED FOR EVERYBODY ELSE BEING IN THE FRAY. 
          AND OBVIOUSLY WE'RE JUMPING INTO THE FRAY. 
          UM, THE GOAL OF WHAT WE INTEND TO DO IS TO BE HIGHLY CATALYTIC. 
          DON'T THINK YOU'RE HIGHLY CATALYTIC IF YOU BUY A BUILDING AND PUT LIPSTICK. 
          YOU HAVE TO CHANGE THE PLAYING FIELD. 
          WHAT WE ALL KNOW IS THAT, UH, THERE'S A LOT OF FALLOUT AS YOU WAS STATED IN LEASING DOWNTOWN. 
          IT ISN'T ABOUT THE RATE, IT'S ABOUT THE FACT THAT BUILDINGS ARE A FEASIBLE, UM, AND THE CURRENTLY STATED INTENT OF, UM, A COUPLE OF THREE MAJOR TENANTS AND THE POSSIBILITY OF THEM LEAVING DOWNTOWN. 
          AND THEY, UH, ACCORDING TO BCG STUDY, DO THE PROPERTY VALUES AS WELL DOWNTOWN. 
          AND, UH, EXACT NUMBER IS 2.7 BILLION OF, UH, PROPERTY VALUE LOSS IN 62 MILLION ANNUAL REVENUE. 
          WE HAVE TO CHANGE THE GAIN, WE HAVE TO MOVE IT. 
          OUR GOAL OF BUYING 9 0 1 MAIN AND THE REST OF THE PROPERTIES, I'M GONNA AFFECTIONATELY CALL IT BANK OF AMERICA PHILOSOPHY, IF I MAY PLEASE JUST FOR, BUT IT IS THE ADDRESSES, IT'S CALLED OUT, UM, IS TO JUMP IN AND STOP THE FLOW OUT, BUILD A BEACHHEAD AND GET GOING. 
          UM, THE PIECES THAT EVERYBODY KNOWS, THE LOCATION, THE BUILDING IS, UM, ON THE WEST SIDE OF DOWNTOWN, IT IS NORTH OF THE NEW CONVENTION, THE, UH, PLANNED NEW CONVENTION CENTER, BUT THE BUILDING AS BEAUTIFUL AND AS TALL AS IT IS, HAS STRUCTURAL FLAWS AND CULTURAL HOLES. 
          WHEN I'M TALKING ABOUT STRUCTURAL FLAW, I'M NOT TALKING ABOUT THE STRUCTURE OF THE BUILDING, I'M TALKING ABOUT THE FACT THAT IT WAS BUILT AND IT DOESN'T HAVE PARKING. 
          THAT IS A STRUCTURAL FLAW BECAUSE IT CANNOT LEASE ITSELF. 
          IT WILL NOT BE LEASED WITHOUT REVISING. 
          A NO BROKER WILL BRING A TENANT. 
          I'M NOT TELLING ANYBODY HERE, THEY DON'T KNOW. 
          I'M JUST STATING WHAT WE ARE LOOKING AT AS THE PLAN THAT HAS TO BE FIXED. 
          AND THE OTHER PART I CALL A CULTURAL HOLE, WHICH IS WHEN THOSE BUILDINGS WERE BUILT, THIS AND THE OTHER BUILDING. 
          SO WERE MR. SHE, UM, THEY HAD JUST PUT IN THE TUNNEL SYSTEM. 
          I WON'T 
          [00:20:01]
EDITORIALIZE WHAT A TUNNEL SYSTEM COMES TO A CITY AND THE STREETS, BUT WE ALL PROBABLY HAVE A SIMILAR OPINION ABOUT THAT. 
          UM, BUT WITH THE, THE WHOLE IS CULTURE, IT'S F AND B, IT'S EXPERIENCE. 
          AND SO WHAT WE WANT TO DO IS ADDRESS THE BRINGING THE REST OF THE PACKAGE THAT TENANTS NEED TO GO THERE BEFORE THEY'LL SIGN LEASE. 
          IF YOU LOOK AT , THE GREATEST DIFFERENCE BETWEEN UPTOWN AND DOWNTOWN IS RETAIL, STREET PARKING. 
          ONCE YOU GET IN A BUILDING, THEY'RE ALL REALLY NICE BUILDINGS. 
          IT'S JUST THE ENVIRONMENT AROUND THEM. 
          SO YOU HAVE TO FIX IT. 
          IT IS A PACKAGE DEAL, AND IF YOU DON'T, YOU DON'T TOUCH IT. 
          SO I'VE STATED, WHAT IS THE WHY, WHY IT CAN'T LEASE, WHY IT IS IN, IN IN DISTRESS, AND WHY IT WON'T CHANGE UNLESS YOU CHANGE THE FIELD. 
          SO THE WHOLE PREMISE OF THE PROJECT, THE BIG IDEA IS CREATE A VERY LARGE PARKING GARAGE AND DO THE FORMAT ON A BLANK SHEET OF LAND THAT'S CURRENTLY SURFACE PARKING TO CREATE SCALE, TO CREATE STREET, TO ENCLOSE THE STREET, FRAME IT UP, AND THEN ADDRESS THE STREET WITH RETAIL AND SOFT ON THE INSIDE. 
          NOW, THERE IS NO IDEA HERE THAT, THAT RETAIL WOULD SUCCEED ON ITS OWN, BUT WE HAVE THE CONVENTION CENTER. 
          IF YOU LOOK AT THE PROSPECT OF THE CONVENTION CENTER, GO BACK TO 2019, DO THE RESEARCH. 
          WE'RE STARTING TO DRIVE 350,000 ROOM NIGHTS A YEAR. 
          IF YOU ROLL FORWARD TO A PROJECTED NEW CONVENTION CENTER THAT GOES TO 850 THOUSANDS, 500,000 MORE ROOM NIGHTS, IF THAT'S GONNA BE SUCCESSFUL, THE CONVENTION CENTER, THEN WE'RE GONNA PUT MAKE UP YOUR NUMBER TWO AND A HALF TO THREE AND A HALF BILLION DOLLARS IN. 
          WE ALSO NEED HOTEL ROOMS AND WE NEED STREET AND WE NEED RESTAURANTS. 
          THE HOTEL PIECE WILL WORK TO SUPPORT THE CONVENTION CENTER BECAUSE WE ARE A FIVE MINUTE WALK. 
          THAT IS THE RADIUS THAT'S COMPLETELY UNDERSTOOD BY ULI IS A STANDARD OF ACCEPTABLE QUOTE UNQUOTE WALK FOR RESTAURANT AND FOR STAY TO BE TRUE WALKABILITY. 
          SO BUILD THE GARAGE, FRAME IT WITH THE, UH, STREET SCAPE, CREATE A PLACE, AND THEN BUILD THE HOTEL. 
          NOW THE HOTEL WE'RE GONNA BUILD ON THE GROUND NEXT TO THE TOWER AND CONNECT IT THROUGH THE . 
          THE REASON WE'RE DOING THAT IS BECAUSE YOU WANT THE BUILDING ITSELF TO MAINTAIN ITS INTEGRITY. 
          YOU DON'T CHOP UP THE LOBBY. 
          WE'RE GONNA TRY TO LEAVE THE LOBBY INTACT, HAVE THE ENTRANCE TO THE HOTEL, BE NEXT TO IT, HAVE IT CONNECT TO THE CONCOURSE. 
          AND BY PUTTING THOSE NUMBER OF KEYS UP IN THE TOWER THROUGH A SPECIFIC ELEVATOR BANK, YOU ALSO TAKE 1.8 MILLION FEET OF OFFICE  0.5. 
          SO WE'RE REDUCING INVENTORY FROM OFFICE, CONVERTING IT INTO HOTEL, PUTTING IN HOTEL TO SUPPORT THE CONVENTION CENTER. 
          AND IF WE HAVE THE AMENITIES FOR THE F AND B ALONG THE STREET AND THE HOTEL, JUST THINK ABOUT THE CRESCENT. 
          IT IS, IT'S NOT A PARALLEL COMPLETELY. 
          HOTEL, RETAIL, AMENITY, PARKING, GREAT SUCCESS, GREAT PROJECT. 
          IF YOU LOOK AT SOME OF THE OTHER PROJECTS THAT REALLY WORK RIGHT NOW THAT ARE AT LEAST LEASING, THAT'S WHERE WE'RE HEADING TO CREATE A HOTELS FOR THE CONVENTION CENTER. 
          AND IF WE DO ALL THAT NOW WE'VE CREATED AN OFFICE BUILDING THAT IS ACTUALLY REASONABLE, THAT WILL BE LEASED. 
          THAT IS THE BIG IDEA. 
          AGAIN, I'M NOT PREACHING, I'M JUST TELLING YOU WHAT WE'RE DOING. 
          EVERYBODY HERE KNOWS IT, KNOWS THE ISSUES. 
          AND THE HARDEST THING FOR US WAS YOU HAVE TO GO ALL IN OR NOT. 
          IF YOU DON'T GO ALL IN, YOU'RE NOT GOING TO SUCCEED. 
          WE'RE TRYING TO GO ALL IN. 
          THAT IS THE PROJECT. 
          I'LL STOP THERE AND KEEP IT VERY SHORT. 
          BE GLAD TO ANSWER ANY QUESTIONS, BUT THANK YOU FOR THE CONSIDERATION OF THE TIME. 
          THANK YOU. 
          UM, JOHN, IF YOU'LL TURN YOUR CAMERA ON PLEASE AND IA, IF YOU'LL PUT THE, UH, BRIEFING BACK ON THE SCREEN. 
          THANK YOU. 
          OKAY, WE'LL GO TO, SO THIS BRIEFING IS MEANT TO PROVIDE A BRIEF BACKGROUND ON THE DOWNTOWN CONNECTION TIP DISTRICT ON PAGE TWO, UM, SAS RECOMMENDATION FOR A AMENDMENT OF THE DOWNTOWN CONNECTION TIF DISTRICT PLAN. 
          UM, ADDITIONAL BACKGROUND ON 9 0 1 MAIN STREET REDEVELOPMENT PROJECT, AND THEN STAFF'S RECOMMENDATION FOR THE TIF DISTRICT AMENDMENT AND THE, UH, DEVELOPMENT PROJECT. 
          [00:25:02]
WE'LL TALK NEXT STEPS AND THEN WILL BE DONE. 
          AND SO THIS TEMP DISTRICT WAS CREATED IN 2005 BY A PROPERTY OWNER PETITION. 
          UM, IT WAS CREATED TO PROVIDE FUNDS TO SUPPORT REDEVELOPMENT OF, UH, EXISTING BUIL BUILDINGS WITHIN THE CORE TO HELP WITH, UH, CAPITAL IMPROVEMENTS AND INCENTIVIZED DEVELOPMENT ON VACANT AND UNDERUTILIZED LOTS. 
          ALSO, IN 2005, THE DOWNTOWN DALLAS DEVELOPMENT AUTHORITY WAS CREATED TO SUPPORT THE IMPLEMENTATION OF THE DOWNTOWN CONNECTION TIP PLAN. 
          THEY ALSO ISSUED TWO SERIES OF INCREMENT TAX INCREMENT CONTRACT REVENUE BONDS TO SUPPORT THE ORIGINAL CATALYST PROJECT, WHICH WAS THE MERCHANT HILL. 
          THE, UH, LONE STAR GAS BLOCKS COMPLEX IN THE CONTINENTAL. 
          THIS 10TH DISTRICT EXPIRES IN DECEMBER 31ST, 2035, OR WHEN WE'VE COLLECTED OUR MAX BUDGET OF 402.9 MILLION NET PRESENT VALUE OR AN ESTIMATED TOTAL COLLECTION OF 937 MILLION. 
          TOTAL FOLLOW ON PAGE FOUR IS JUST A PAGE THAT, UH, SPEAKS TO WHAT HAS OCCURRED THUS FAR WITHIN THE TIP DISTRICT AND SOME OF THE PROJECTS THAT HAVE BEEN SUCCESSFUL. 
          UM, WILL GO TO PAGE FIVE. 
          UM, SO IN 20 JUNE OF 2022, THIS TIP DISTRICT WAS AMENDED TO INCREASE THE BUDGET CAPACITY TO SUPPORT ADDITIONAL PROJECTS WITHIN THE, WITHIN THE BOUNDARIES OF THE ZONE. 
          AND SO, UM, SINCE THEN WE'VE RECEIVED A COUPLE OF APPLICATIONS. 
          THE BOARD HAS APPROVED ONE PROJECT, WHICH WOULD BE THE FIRE STATION OR RELOCATION OF FIRE STATION 18. 
          UM, WE RESCINDED ONE OF THE BOARD'S APPROVAL, WHICH WAS FOR THE MAGNO MAGNOLIA BUILDING. 
          AND SO IF YOU GO TO PAGE SIX, WE'LL GET INTO WHAT THE ACTUAL PLAN AMENDMENT IS THAT WE'RE PROPOSING. 
          AND THAT IS TO INCREASE THE BOUNDARY OF THE TIF DISTRICT TO ADD IN 9 0 1 MAIN STREET, WHICH IS THE BANK OF AMERICA PLAZA SITE ITSELF. 
          UM, THE TWO OTHER PROPERTIES, THE SURFACE PARKING LOTS ARE ALREADY WITHIN THE TIF DISTRICT. 
          AND THEN WE'RE ALSO, UH, REQUESTING, UM, CONFIRMATION ON THE 1401 COMMERCE STREET, UH, SITE. 
          THE BOARD ORIGINALLY APPROVED AMENDING TIF DISTRICT TO INCLUDE 1401 COMMERCE BACK IN 2024. 
          AND SO THAT IS WHAT YOU SEE ON THE PAGE IS OUR CURRENT TIF DISTRICT. 
          WITH THE TWO PROPERTIES THAT WE ARE PROPOSING TO ADD TO THE BOUNDARY, WE ARE NOT PROPOSING ANY OTHER CHANGES TO THE TIP DISTRICT. 
          AND SO, UH, THE ONLY REQUEST AT THIS TIME IS TO ADD THOSE PROPERTIES TO THE DISTRICT AS IT RELATES TO THE PROJECT. 
          UM, SO THIS PROJECT INCLUDES THREE PROPERTIES. 
          UM, THE FIRST IS THE BANK OF AMERICA PLAZA, AND THE TWO OTHER PROPERTIES ARE THE SECOND LITTLE BLUE BOX OR GREEN BOX THAT YOU SEE ON SCREEN THAT'S DEPICTED, WHICH IS A SURFACE PARKING LOT. 
          AND WITHIN THAT BOX IS THE LITTLE SLIVER THAT THEY CALL 9 0 9 COMMERCE STREET, WHICH IS NOT EVEN ONE 10TH OF AN ACRE. 
          INSIDE THE ONLY FOR THE PROPERTY IS CA ONE AND IT'S WITHIN COUNCIL DISTRICT 14 TO GO TO THE NEXT SLIDE. 
          UM, I THINK MR. AVALON EXPRESSED THE EXISTING CONDITIONS OF THE SITES AND THE, THE TOWER SUCCINCTLY. 
          AND SO WE'LL MOVE ON TO SLIDE 10. 
          AND SO THIS IS A BRIEF SUMMARY OF WHAT THE PROJECT WILL BE, WHAT WE ANTICIPATE WILL BE COMPLETED WHEN IT'S ALL SAID AND DONE. 
          UM, AS MR. AVALON STATED, THEY'RE REDUCING THE AMOUNT OF OFFICE SPACE FROM 1.8 MILLION TO 1.5 MILLION. 
          THEY ARE, WE'LL BE ADDING 280 NEW HOTEL ROOMS ON, IN ABOUT JUST OVER 330,000 SQUARE FEET OF SPACE. 
          THEY'RE GONNA REPLACE THE SUNKEN CONCRETE GARDEN THAT'S THERE NOW WITH A GLASS STEEL STRUCTURE THAT WILL HOUSE THE HOTEL LOBBY AND IT WILL BE OVER THE, UM, HOTEL BALLROOM AND MEETING ROOMS LOCATED ON THE CONCOURSE OF THE TOWER. 
          THERE WILL BE NEW GROUND UP CONSTRUCTION OF A PARKING GARAGE WITH 1,115 PARKING SPACES. 
          AND THEN THERE WILL BE, UM, AN ELEVATED PEDESTRIAN WALKWAY TO CONNECT THE NEWLY CONSTRUCTIVE STRUCTURES. 
          THE TOTAL ESTIMATED, UH, PROJECT COST IS JUST OVER 409 MILLION. 
          THIS PROJECT DID GO TO THE URBAN DESIGN PEER REVIEW PANEL FOR REVIEW. 
          UM, THEY HAD QUITE A FEW, UH, COMMENTS AND IT WAS A VERY GOOD DISCUSSION BACK AND FORTH. 
          SINCE THE MEETING IN ON JANUARY 17TH, 2025, 
          [00:30:02]
THE DEVELOPER HAS RESPONDED TO THE COMMENTS FOUR THAT WERE WE RECEIVED FROM THE PANEL AND STAFF HAS DETERMINED THAT THEY HAVE MET THE REQUIREMENTS OF THE PANEL. 
          THE ONLY TWO REMAINING, UH, COMMENTS FROM THE PANEL WAS THAT THEY WOULD LIKE TO SEE ADDITIONAL PHASES OF THE PROJECT COME BEFORE THE PEER REVIEW PANEL AND TO ENSURE COORDINATION AND TRANSPORTATION AS IT RELATES TO, UM, THE PROJECT. 
          AND SO TO GO TO THE NEXT SLIDE, YOU'LL SEE THE CONCEPT SITE PLAN FOR THE PROJECT, UM, WHICH SHOWS THE, THE ACTUAL PLAZA. 
          BUT IF YOU GO TO THE NEXT SLIDE WHERE WE GET INTO THE RENDERING, YOU'LL SEE HOW THESE, UM, THE NEWLY CONSTRUCTED, UH, BUILDING RELATES TO THE TOWER. 
          AND SO HERE WE HAVE A, UH, PICTURE OF THE HOTEL ENTRANCE AND WHAT A POTENTIAL ROOM COULD LOOK LIKE. 
          AND THEN THE, TO THE ENTRANCE TO THE OFFICE SPACE. 
          ON THE NEXT SLIDE IS A RENDERING OF, UH, THE, WELL, IT'S A CLOSEUP RENDERING THAT SHOWS YOU ALL OF THE DIFFERENT LEVELS OF THE FUNCTIONS THAT WILL, UM, HOUSED WITHIN THIS NEWLY CONSTRUCTED STRUCTURE NEXT TO THE TOWER. 
          AND THEN A VIEW FROM THE STREET AT THE STREET LEVEL ACTIVATION THAT IS BEING PROPOSED BOTH AT THE, UM, BOTTOM OF THE GARAGE AND AS WELL AS THE TOWER. 
          SORRY, WHERE'S THE, THAT'S ON, UH, PAGE 14. 
          IT'S ON THE RIGHT HAND SIDE. 
          ON PAGE 16 IS THE RENDERING OF THE GARAGE. 
          GO BACK ONE, I'M SORRY, PAGE 15 IO. 
          YES, RIGHT THERE. 
          AND SO HERE WE SEE THE GARAGE AND, UH, THE TOP LEFT CORNER, YOU SEE THE PEDESTRIAN WAY CONNECTION THAT'S ELEVATED CONNECTING THE CONSTRUCTED GARAGE TO THE HOTEL. 
          AND DOWN ON THE RIGHT CORNER IS A MORE CLOSE END VIEW OF THAT, THAT CONNECTION AND THE TWO NEW BUILDINGS. 
          ON PAGE 16, WE HAVE OUR SOURCES AND USES FOR THE PROJECT. 
          UM, THE DEVELOPER PROVIDED, UH, INTEREST LETTERS FROM THREE DIFFERENT LENDERS TO SUPPORT THE PROJECT. 
          AND THE UNDERWRITER FOUND THAT THE DEVELOPER, UM, HAD THE WHEREWITHAL TO COMPLETE THE PROJECT. 
          WE GO TO PAGE 17, AND ONE OF THE MORE IMPORTANT SLIDES IS THE ACTUAL TIF SUBSIDY THAT WE ARE PROPOSING FOR THE PROJECT. 
          IT IS A MAX OF 98 MILLION. 
          UM, THE ORIGINAL REQUEST SUBMITTED BY THE DEVELOPER WAS FOR TIF SUBSIDY IN THE AMOUNT OF 150 MILLION. 
          UM, AND WORKING THROUGH THE UNDERWRITING PROCESS AND WORKING WITH THE DEVELOPER, UM, THE UNDERWRITER FOUND IN STAFF SUPPORTS THE, UH, GAP OF 98 BILLION, WHICH WE HAVE PROPOSED TO ASSIST WITH TIF FUNDING. 
          UM, ON HERE ON THIS PAGE, YOU ALSO SEE THE BUDGET FOR THE TIF FUNDING. 
          SO ABOUT 3.5 MILLION IS FOR ENVIRONMENTAL RE REMEDIATION AND INTERIOR AND EXTERIOR DEMOLITION. 
          UM, STREET AND UTILITY IMPROVEMENTS IS 3 MILLION STREETSCAPE IMPROVEMENTS, 3.6 MILLION, AND THE REST IS IN THE FORM OF AN ECONOMIC DEVELOPMENT GRANT THAT WILL BE PAID UPON COMPLETION OF THE PROJECT. 
          MORE IMPORTANTLY, THE TIP SUBSIDY COULD BE REDUCED FOR A COUPLE OF REASONS. 
          ONE, IF THE TOTAL NUMBER OF ACTUAL, UM, THE TOTAL COST OF ENVIRONMENTAL REMEDIATION, STREET AND UTILITY IMPROVEMENTS IS STREETSCAPE IMPROVEMENTS IS LESS THAN 10 MILLION, THEN, UM, THE TIP SUB, IT COULD BE REDUCED. 
          AND IF THE TOTAL PROJECT COSTS LESS THAN 409 MILLION, THEN THE TIP SUB SPEAK. 
          AND SO WITH ALL OF OUR PROJECTS, UM, WE, WE PROVIDE AN AMOUNT OF ASSISTANCE IN ADDITION TO ALL OF THE STRINGS THAT COME ALONG WITH THE ASSISTANCE THAT WE ARE PROPOSING. 
          AND SO WE HAVE QUITE A FEW DIFFERENT DEADLINES FOR THIS PROJECT. 
          THE FIRST IS THE ACQUISITION DEADLINE, WHICH THE DEVELOPERS SHALL CLOSE ON ACQUISITION OF THE PROJECT BY SEPTEMBER 30TH, 2026. 
          UM, WE ALSO HAVE A PROJECT FINANCING DEADLINE WHERE WE, UH, NEED TO SEE ACTUAL COMMITMENTS. 
          AND BY DECEMBER 31ST, 2026, UM, WE ALSO REQUIRE THAT WE, UM, THE DEVELOPER SECURE THEIR FLAG PRIOR TO, UH, ACQUISITION. 
          PRIOR TO THE ACQUISITION DEADLINE, THERE'S 
          [00:35:01]
ALSO A MINIMUM INVESTMENT OF $394,990,335 TOWARDS COMPLETION OF THE PROJECT. 
          UM, THE REQUIRED COMPONENTS ARE JUST COMPONENTS THAT I SPOKE TO YOU ABOUT. 
          UM, IN RENOVATING AND RELOCATING EIGHT, 800,000 SQUARE FEET OF OFFICE SPACE, A MINIMUM OF 275,000 SQUARE FEET OF HOTEL AND HOTEL AMENITY SPACE, THE CONSTRUCTION OF BOTH NEW STRUCTURES IN THE GARAGE AND ALL OF THE ONSITE AND OFFSITE, IF REQUIRED IMPROVEMENTS NEEDED TO SUPPORT THE PROJECT. 
          THE VOTER HAS TO PULL THEIR BED, HAS TO PULL THEIR, UH, BUILDING PERMIT BY SEPTEMBER 30TH, 2029. 
          AND WE KNOW THESE STATES ARE, MAY SEEM A LITTLE FAR, BUT WHAT WE TRY TO DO AND WHAT WE TRY TO BUILD INTO ALL OF OUR PROJECTS IS THE ABILITY TO, UM, OR THE ACKNOWLEDGEMENT THAT IT SOMETIMES TAKES A LITTLE LONGER TO CLOSE YOUR FINANCING OR TO GO THROUGH THE BUILDING PERMIT PROCESS. 
          AND SO WE PROVIDE ADDITIONAL TIME WITH THESE DEADLINES TO ALLOW FOR UNFORTUNATELY HICCUPS THAT COULD, COULD OCCUR. 
          AND MOST TYPICALLY DO OCCUR. 
          UH, THERE WILL BE AN OPERATING AND MAINTENANCE AGREEMENT REQUIREMENT FOR THE PROJECT. 
          THEIR SUBSTANTIAL COMPLETION DEADLINE IS BY SEPTEMBER 30TH, 2032. 
          AND THEN IF THERE ARE ANY, UM, PUBLIC INFRASTRUCTURE IMPROVEMENTS WITHIN THE RIGHT OF WAY, THE ACCEPTANCE OF THOSE IMPROVEMENTS MUST OCCUR BY DECEMBER 31ST OF 20. 
          WE HAVE MINIMUM OCCUPANCY REQUIREMENTS ON PAGE 21, UH, FOR BOTH THE, UH, GROUND FLOOR OR STREET LEVEL ACTIVATION IN THE HOTEL PORTION OF THE PROJECT. 
          AND THEN WE HAVE ONGOING OCCUPANCY REQUIREMENTS THROUGHOUT THE LIFE OF THE TIF. 
          SO UNTIL 2035 WHERE THOSE MINIMUMS MUST BE MET OR IT WILL BE CONSIDERED SOME FORM OF A DEFAULT, WE HAVE A LOCAL HIRING REQUIREMENT. 
          AS WITH ALL OF OUR PROJECTS, WE TRY TO GIVE PRIORITY TO DALLAS RESIDENTS TO BE A PART OF ANY PROJECT THAT WE PROVIDE. 
          UH, TAXPAYER INCENTIVES, WE DO ALLOW FOR MINOR MODIFICATIONS WITH THIS PROJECT. 
          UM, STAFF CAN, DOES THE POST CONSTRUCTION AUDIT. 
          AND AS PART OF THAT AUDIT, THIS IS WHERE WE, UH, DETERMINE WHETHER OR NOT THE TOTAL PROJECT COST WAS SPENT. 
          AND IF NOT, WE WILL REDUCE OUR 10TH SUBSIDY FOR THE PROJECT ACCORDINGLY. 
          AND LASTLY, UM, PRIOR TO PULLING A BUILDING PERMIT, THE DEVELOPER MUST SUBMIT THEIR CONSTRUCTION PLANS TO OED FOR THE OFFICE OF ECONOMIC DEVELOPMENT AND THE PLANNING AND DEVELOPMENT STAFF TO REVIEW, JUST TO ENSURE THAT THEY MATCH THE, UM, RECOMMENDATIONS FROM THE PEER REVIEW PANEL. 
          SO NEXT STEPS, UM, AFTER THE BOARD MAKES A RECOMMENDATION, THIS WILL APPEAR ON THE ECONOMIC DEVELOPMENT COMMITTEE, UH, AGENDA FOR OCTOBER 6TH. 
          AND SINCE WE ARE AMENDING THE TIP DISTRICT, IT'S A TWO STEP PROCESS FOR CITY COUNCIL. 
          WE FIRST HAVE TO CALL A PUBLIC HEARING FOR THE PROPOSED TIP, DISTRICT PLAN AMENDMENT. 
          AND THEN ON OCTOBER 22ND, 2025, CITY COUNCIL WILL HOLD THE PUBLIC HEARING TO RECEIVE ANY CITIZEN COMMENTS ON THE PROPOSED TIP DISTRICT AMENDMENT. 
          AND THEN AT THAT VERY SAME MEETING AND JUST AFTER, UM, A CITY COUNCIL VOTES ON AMENDING THE TIF DISTRICT, IF THEY APPROVE THE AMENDMENT, THEN THEY WILL ALSO CONSIDER PROPOSED TIF SUBSIDY FOR THE 9 0 1 MAIN STREET DEVELOPMENT PROJECT. 
          AND WITH THAT, I, UM, AM HERE TO ANSWER ANY QUESTIONS YOU MAY HAVE AND WE MAY TAG TEAM AND THE DEVELOPER MAY HAVE, UM, ANSWERED QUESTION THAT THE BOARD MAY HAVE AS WELL. 
          SO THIS IS BILLY BRUIT. 
          I HAD A FEW QUESTIONS ON THE, UH, ON THE BUDGET, UM, IS IN THE $400 MILLION SORT OF, UH, DEVELOPMENT BUDGET, OBVIOUSLY THIS IS A COMBINATION OF, UH, ACQUISITION OF AN OFFICE BUILDING CONSTRUCTION OF A PARKING GARAGE, AND THEN THIS CONVERSION OF A HOTEL USE. 
          UM, SO I THINK THE CONSTRUCTION AND CONVERSION PIECES ARE, ARE PRETTY STRAIGHTFORWARD. 
          IS THERE ANY TENANT IMPROVEMENT ALLOWANCES OR LEASING COMMISSIONS OR ANYTHING ASSOCIATED WITH THE OPERATIONS OF THE OFFICE BUILDING COMPONENT INCLUDED IN THE BUDGET? YES, BUT A SMALL PORTION AND I'LL LET THE DEVELOP, UM, PULL UP THE NUMBERS. 
          [00:40:01]
SORRY. 
          SO THAT WAS ONE OF THE CONSIDERATIONS. 
          UM, WHILE, WHILE WE WERE REVIEWING THIS PROJECT, THERE'S A CERTAIN AMOUNT OF OFFICE INTENDED IMPROVEMENTS THAT WILL OCCUR DURING THE PROJECT AND PRIOR TO STATUTE COMPLETION. 
          AND THERE ARE ALSO A CERTAIN AMOUNT OF TENANT IMPROVEMENTS THAT WILL OCCUR AFTER THE SUBSTANTIAL COMPLETION OF THE PROJECT. 
          AND SO OUR BUDGET, THE TOTAL BUDGET THAT YOU SEE, THE FOUR OH 9 MILLION ONLY INCLUDES THAT PORTION OF TENANT IMPROVEMENTS THAT WILL OCCUR DURING THIS PROJECT. 
          AND SO ABOUT 24 AND A HALF 5 MILLION ARE TENTATIVE IMPROVEMENT. 
          THE VAST MAJORITY OF IT IS OBVIOUSLY BUILDING THE EXTREMELY LARGE GARAGE, THE RETAIL, THE BASE OF THE HOTEL, AND THE 275 PLUS OR MINUS KEYS FOR THE HOTEL AND TO REDO THE 69TH FLOOR OF THE BUILDING, WHICH FOR THOSE WITH A LITTLE GRAND HAIR AND A LOWER MEMORY BOARD MEMBER USED TO BE THE, UH, CITY CLUB AND PUTTING BACK A RESTAURANT UP THERE AS WE SHOULD, AS A VIEWING PERKS FOR THE CITY. 
          AND, UH, FMB, WHICH AGAIN AMENITY FOR A CONVENTION IS, IS THIS THE FIRST TIME THAT WE'VE, WE'VE PROVIDED INCENTIVES FOR, FOR, UH, OFFICE TENANT IMPROVEMENTS? SO WHEN WE, UM, MADE THE OFFER, IF YOU'LL NOTICE, THE TOTAL PROJECT COST IS 4 0 9. 
          UM, IN OUR REQUIREMENTS, THE MINIMUM INVESTMENT WAS THREE NINE SOMETHING. 
          AND SO WE HAVE A LIST OF IMPROVEMENTS THAT ARE ELIGIBLE TO COUNT TOWARDS MINIMUM INVESTMENT. 
          AND IT DOES NOT IMPROVE, IT DOES NOT INCLUDE THE FULL 24 BILLION IN TENANT IMPROVEMENTS FOR OFFICE. 
          SO, OKAY, SO IN ORDER TO HIT THE MINIMUM INVESTMENT, IT DOESN'T INCLUDE WHAT YOU'VE INVESTED IN TENANT IMPROVEMENTS, IT DOESN'T INCLUDE THE FULL AMOUNT. 
          OKAY. 
          SO THERE'S SOME PORTION OF IT THAT IS INCLUDED THAT WILL BE COMPLETED PRIOR TO SUBSTANTIAL COMPLETION OF THE PROJECT. 
          OKAY. 
          UM, GIVEN THE, THE AMOUNT OF SPACE AND THE LEASE TURNOVER THEY'RE ANTICIPATED, THERE WILL BE ADDITIONAL TENANT IMPROVEMENTS THAT WILL OCCUR AFTER THEY'VE SUBSTANTIALLY COMPLETED THE PROJECT, BUT THAT'S NOT INCLUDED IN HERE AT ALL. 
          GOT IT. 
          QUESTIONS? I HAVE SOME, BUT I'M HOLDING, UH, YEAH, THIS IS NICK SEAMAN. 
          UM, I'M JUST, YOU KNOW, I'M, I'M HAVING A MOMENT OF DISSONANCE, I SUPPOSE , BECAUSE, YOU KNOW, I THINK WE'VE ALL BEEN FOLLOWING THE SAGA OF, UH, YOU KNOW, REVISING PARKING STANDARDS ACROSS THE CITY. 
          AND, UH, YOU KNOW, WE, AT LONG LAST, WE FINALLY CAME TO A CONCLUSION HERE THAT, UH, WE ARE VASTLY OVERSERVED. 
          AND I KNOW THAT'S DEPENDENT NEIGHBORHOOD TO NEIGHBORHOOD, BUT, UH, I, YOU KNOW, I THINK THIS IS CONFLICT WITH, UM, THE DALLAS, YOU KNOW, THE DOWNTOWN 360 PLAN AND JUST MAKING COMPLETE NEIGHBORHOODS. 
          I I DON'T KNOW HOW ADDING A 1100 SPACE GARAGE ADDS TO THAT EQUATION AND DOESN'T JUST FURTHER SOME OF THE SAME ISSUES THAT WE'VE BEEN DEALING WITH FOR FOREVER. 
          UM, AND YOU KNOW, I'LL, I'LL JUST FINISH UP BY SAYING I, I UNDERSTAND THE CHALLENGE OF LEASING UP AN OFFICE BUILDING, ESPECIALLY IN THIS ENVIRONMENT, BUT IT JUST SEEMS LIKE, UM, FIRST OF ALL, THERE'S A SEA OF OF PARKING AROUND THAT SPACE, AROUND THAT BUILDING. 
          UM, EVEN IF IT'S NOT STRUCTURED, UM, I JUST ADDING MORE PARKING TO WHAT, THERE'S ALREADY SIGNIFICANT CAPACITY IN THAT AREA. 
          UM, I, YOU KNOW, I JUST, I I GUESS I HAVE A QUESTION ON HOW THAT PLAYS WITH THE 360 PLAN THAT WE HAVE IN PLACE. 
          I'LL START WITH FIRST AND FOREMOST, THIS PARKING GARAGE WILL PLACE A GOOD PORTION OF 
          [00:45:01]
THE SEA OF PARKING THAT YOU'RE REFERRING TO. 
          THAT PARKING GARAGE IS BEING CONSTRUCTED ON THE SURFACE. 
          PARKING LOTS MAY BE REFERENCED, RIGHT? UM, IT SUPPORTS THE, THE 360 PLAN BY WHAT THEY'VE DONE AT THE GROUND FLOOR BY ADDING 15,000 SQUARE FEET OF RETAIL RESTAURANT SPACE. 
          AND SO WE DO HAVE PEOPLE WALKING FROM THE CONVENTION CENTER, THE NEWLY REIMAGINED AND REDEVELOPED VISION CENTER. 
          THEY'RE NOT WALKING PAST BLANK WALLS, THEY'RE WALKING PAST AC ACTIVATION AND THEY ARE ALSO PLANNING TO PULL SOME OF THE, UM, VENDORS THAT ARE NOW DOWN ON THEIR CORE CONCOURSE OR LOWER LEVELS IN THE TOP TO THE GROUND FLOOR. 
          SO YOU'LL HAVE A DOUBLE SIDED STREET OF ACTIVATION. 
          AND THEN, UM, THERE ARE FUTURE PLANS FOR RE FOR DEVELOPMENT AS PART OF THIS, WHICH WOULD INCLUDE FURTHER ACTIVATING THE, THE PARKING GARAGE. 
          AND SO I'LL LET THE DEVELOPERS SPEAK THAT. 
          YEAH. 
          THE OTHER NICK, I REALLY APPRECIATE THE QUESTION. 
          UM, FROM OUR STANDPOINT, FROM OUR PORTFOLIO OF OFFICE LEASING IN DALLAS AND OTHER  HAD OFFICE BUILDINGS, NO BROKER WILL BRING YOU A TRANSACTIONAL LIST. 
          YOU CAN GUARANTEE A CERTAIN AMOUNT OF PARKING. 
          AND WE'VE GONE THROUGH PARKING BY DEMAND VERSUS PARKING BY NEED AND PARKING BY WRIT BY VERSUS BY DEMAND. 
          IF WE DO THIS PARKING, WE WILL NOT BE GETTING TO THE THREE PER THOUSAND THAT'S REQUIRED TO SIGN LEASES. 
          WHAT WE'RE DOING IS WE'RE TAKING A POINT, SOME OF THESE BUILDINGS HAVE FIVE PER THOUSAND, ONE PER THOUSAND. 
          YOU CANNOT LEASE PERIOD PARAGRAPH, AND YOU CAN'T SAY THERE'S A DEAL OF PARKING, I JUST WON'T SEE A DEAL. 
          SO WHAT WE'RE DOING IS WE'RE NOT BUILDING, WE'RE BUILDING ABOUT TWO PER THOUSAND SO THAT WHEN WE DO HAVE THE SHARING ECONOMY THAN UBER, LYFT, ET CETERA, WE HAVE MASS TRANSIT. 
          WHEN WE HAVE MORE HOUSING, WE'RE ANTICIPATING THAT IN. 
          SO WE'RE ACTUALLY NOT BUILDING TO THE FULL REQUIREMENT OF THE MARKET. 
          CURRENTLY, WE'RE BUILDING TO A HYBRID OF WHAT WE HOPE WILL BE ACCEPTABLE TO THE WORLD AT ABOUT TWO TO TWO AND A HALF PER THOUSAND. 
          THE DIFFERENCE YOU STILL NEED, BUT WE'RE MAKING IT UP THROUGH OTHER MOBILITY SOLUTIONS. 
          SO WE ARE PROPOSING TO BUILD TO THE FULL STANDARD THAT SOMEBODY IN UPTOWN IS BUILDING TO IT THREE TO THREE AND A HALF OR FOUR PER THOUSAND. 
          WE'RE FINDING A HYBRID. 
          AGAIN, I APPRECIATE VERY MUCH THE NOTION OF BUILDING STREET IN PLACE AND NOT BUILDING A SEA OF GARAGES, BUT THERE'S ALSO A REQUIREMENT FOR CERTAIN MINIMUM WITHOUT WHICH IT IS UNREASONABLE AT ANY PRICE POINT PERIOD. 
          SO WE'RE TRYING TO FIND THAT HYBRID WALK THE LINE, SO WE'RE NOT PROPOSING TO BUILD TO, IF WE WERE DOING THAT, WE WOULDN'T BE BUILDING 1,150, WE'D BE BUILDING ABOUT 2,400 SPACES. 
          SO WE'RE REALLY TRYING TO FIND THAT BALANCE. 
          I APPRECIATE YOUR QUESTION. 
          I'M VERY, IS IT A ARCHITECT BY TRAINING AND A CITY PERSON BY TRAINING? I REALLY UNDERSTAND YOUR QUESTION AND I'M TRYING TO FIND THE HYBRID OF WHAT MAKES USABLE FOR A HOTEL, FOR THE MARKET AND FOR THE ABILITY TO ACTUAL PERFORM. 
          THANK YOU. 
          HOW DO WE, UH, SO I I, I, FIRST OF ALL, I'M, I'M, I'M SYMPATHETIC, SYMPATHETIC TO THE, UH, PARKING SITUATION. 
          'CAUSE OBVIOUSLY THAT'S, UH, YOU KNOW, WHAT YOU'RE SAYING RINGS TRUE. 
          UM, CERTAINLY IN OUR PORTFOLIO. 
          UM, I THINK, YOU KNOW, I LIKE THIS PROJECT. 
          MY, MY BIGGEST CONCERN IS, IS JUST ABOUT HOW WE MAKE SURE, AND TAMARA, WE'VE TALKED ABOUT THIS IN THE PAST, THE, THE PROCESS OF PICKING WINNERS AND LOSERS. 
          UM, YOU KNOW, FROM A COMPETITIVE STANDPOINT, OBVIOUSLY WE OWN OFFICE BUILDINGS THAT ARE COMPETITIVE WITH THIS ASSET. 
          WE'RE NOT THE ONLY ONE. 
          SO I DON'T, I DON'T THINK I'M NECESSARILY, UM, SPEAKING FROM A CONFLICT STANDPOINT AS MUCH AS IT IS, UH, HOW DO WE, HOW DO, HOW DO WE DECIDE WHICH, WHICH BUILDINGS LIKE THE, THE SUBSIDIZING TIS AND LCS, YOU KNOW, CHANGES THE COMPETITIVE LANDSCAPE FROM, FROM ONE PROPERTY OWNER TO THE NEXT, WHICH DOESN'T NECESSARILY LIFT THE, LIFT THE TIDE FOR DOWNTOWN AS A WHOLE AS SO MUCH AS IT DOES TILT THE PLAYING FIELD IN FAVOR OF, OF PARTICULAR PROPERTIES. 
          UM, AND SO THAT'S, THAT'S ONE CONCERN I HAVE IS JUST IF, IF ONE BUILDING HAS A, AN 
          [00:50:01]
OBLIGATION TO SPEND AT LEAST A CERTAIN AMOUNT OF MONEY ON TI IN ORDER TO, TO FREE UP A BIG CHECK, UM, IT CHANGES THE ECONOMICS FOR THEM IN TERMS OF COMPETING FOR LEASES, WHICH, YOU KNOW, PROBABLY JUST ONLY FURTHERS THE, THE GOAL OF SHUFFLING TENANTS AROUND DOWNTOWN. 
          UM, SO A LITTLE BIT OF A CONCERN ABOUT THAT. 
          AND I THINK THE BEST WAY TO ADDRESS IT IS TO JUST HAVE CLEAR POLICIES ON HOW WE WILL HANDLE THIS IN THE FUTURE TO MAKE SURE, YOU KNOW, EVERYBODY GETS TREATED FAIRLY AS OPPOSED TO JUST PICKING SPECIFIC ASSETS. 
          UM, AND THEN THE OTHER PIECE IS JUST THE ACQUISITION PRICE. 
          UM, YOU KNOW, I DON'T KNOW WHAT SORT OF METRICS OUR UNDERWRITER USES TO ASSESS WHETHER OR NOT THE ACQUISITION PRICE IS IS HIGH OR LOW. 
          I, I CERTAINLY THINK FROM A A CASHFLOW CAP RATE STANDPOINT, IT'S PROBABLY HARD TO JUSTIFY 172 MILLION VALUATION FOR THIS BUILDING. 
          UM, UNLESS THE, THE FINANCIALS ARE MUCH STRONGER THAN, THAN WHAT I WOULD ANTICIPATE. 
          SO, YOU KNOW, I WANT TO SEE AS MUCH OF THE, THE TIFF FUNDING AS POSSIBLE GOING INTO THE NEIGHBORHOOD AS OPPOSED TO LEAVING THE NEIGHBORHOOD IN A FORMER PROPERTY OWNER'S POCKETS. 
          UM, SO HOW DO WE, HOW DO WE THINK ABOUT THAT $172 MILLION VALUATION? OBVIOUSLY, LIKE IF YOU JUST DROP THE PURCHASE PRICE TO A HUNDRED, THIS WOULD ONLY REQUIRE A $15 MILLION SUBSIDY. 
          UM, AND, AND I'M NOT SURE 172 IS MORE DEFENSIBLE THAN A HUNDRED. 
          SO HOW DOES OUR, HOW DOES OUR UNDERWRITER THINK ABOUT THAT? SO AS PART OF OUR, UM, APPLICATION, BUT OUR UNDERWRITER USES OUR THIRD PARTY, UM, INDEPENDENT REPORTS AS THEY DO THEIR EVALUATION. 
          AND SO WE HAVE AN APPRAISAL THAT WAS SUBMITTED FOR THE PROPERTY, UM, ONE THAT, UH, PROVIDES THE AS IS VALUE AND THE AS IS VALUE WAS, I BELIEVE 158 MILLION. 
          AND SO THAT IS WHAT WE LOOK AT. 
          A LOT OF TIMES WHEN WE, UM, WHEN THEY RUN THEIR MODELS, THEY TAKE THE AS IS VALUE FROM THE APPRAISAL, NOT NEC, NOT NECESSARILY WHAT IS IN THE DEVELOPER'S BUDGET AND RUN THEIR MODELS FROM THAT POINT. 
          OKAY. 
          SO WHAT I THINK WHAT YOU'RE SAYING IS SOME OF THE GAP BETWEEN THE REQUESTED $150 MILLION AND THE RECOMMENDED 98 IS BECAUSE OF A DIFFERENCE BETWEEN THE ACTUAL ACQUISITION PRICE AND THE UNDERWRITERS VALUE. 
          YES, YES. 
          AS PART OF THEIR ENTIRE MODEL, THAT WAS ONE OF THEIR CONSIDERATIONS. 
          THAT WAS ONE OF THEIR INPUTS INTO THE MODEL WAS THE HUNDRED 58. 
          SO IT DOES GET TO THE PRODUCTION AND ACTUAL ASSISTANCE. 
          OKAY. 
          WELL, I SAID I I, I'M VERY EXCITED ABOUT SEEING THIS PROJECT COME TO FRUITION. 
          UM, SO I I, I WANNA BE SUPPORTIVE, JUST WANNA MAKE SURE THAT WE'RE ESTABLISHING SOME, SOME CLEAR SORT OF TRANSPARENT PROCESSES FOR, FOR HOW WE GO ABOUT THIS SO THAT, UM, THE, THERE'S NOT A, AN APPEARANCE OF OF TILTING THE PLAYING FIELD OR PICKING WINNERS AND LOSERS WITHIN DOWNTOWN, BUT RATHER TRYING TO FOCUS ON MAKING SURE THAT DOWNTOWN AS A WHOLE IS, UH, IS LIFTED UP. 
          I, I AGREE. 
          WE'RE THE CITY, UM, WE WANT THE ENTIRE DOWNTOWN TO BE SUCCESSFUL. 
          AND FOR THAT REASON, WHEN APPLICATIONS ARE SUBMITTED, WE EVALUATE EACH APPLICATION BASED ON THEIR OWN MERIT. 
          IT'S NOT COMPARISON OF THIS PROJECT VERSUS THAT PROJECT IS, DOES THIS APPLICATION STAND ON ITS OWN? DOES IT PRESENT A SITUATION WHERE THE A GAP EXISTS? CAN THAT GAP BE SUBSTANTIATED BY OUR THIRD PARTY UNDERWRITER? WHAT DO WE HAVE AS FAR AS CAPACITY AND WHAT CAN WE PROVIDE BY WAY OF AN OFFER OF ASSISTANCE? GOT IT. 
          THANK YOU. 
          I WANNA BUILD ON YOUR QUESTION. 
          I HAVE A COUPLE OF OTHERS AND I WOULD'VE ASKED THE BOARD MEMBERS IF I ASK A QUESTION THAT A QUESTION IN YOUR MIND, PLEASE PILE ON, STOP ME AND WE'LL HOPEFULLY ADDRESS, CAN WE SOMETHING PAT, PLEASE PAT IN, PLEASE JUMP IN, PLEASE. 
          THAT'S NOT THE RIGHT, SO LINE QUESTION ABOUT THE ACQUISITION, THAT ACTION PARTNERSHIP SUCCESS AND WHAT HAPPENS TO THE, UH, THE AWARD OF 98 MILLION? RIGHT? SO THAT'S ONE OF THE, UM, ISSUES 
          [00:55:01]
OF THE PROJECT IS THAT THEY'RE GONNA HAVE TO SUBMIT, UH, SUBSTANTIATE OR PROVIDE DOCUMENTATION OF THE ACTUAL SPEND FOR THE ENTIRE PROJECT. 
          AND IF IT ENDS, ENDS UP BEING LESS THAN THE 4 0 9, THEN WE HAVE A WAY TO REDUCE OUR SUBSIDY. 
          THAT'S, SO IF THE PROJECT COST GOES DOWN, OUR SUBSIDY GOES DOWN AND SOMEWHERE ELSE IN, BUT IT SORT OF TRIES TO KEEP THAT 24%, RIGHT? YES. 
          RIGHT. 
          THE 24%, UH, RULE. 
          SO  OR IT'LL BE THE AWARD WOULD REDUCE BIDEN 20% STATE STATED IN THE DUMB DOWN VERSION FOR ME, $10 WAS NEGOTIATED. 
          HAVE TO QUALIFY. 
          I HAVE TO GO SPEND TEN FOUR DOLLARS SOMEPLACE ELSE THAT'S QUALIFYING 10 WHEN TO BORROW. 
          OKAY. 
          UM, ALRIGHT, THAT, THAT, THAT'S GONNA HAPPEN, RIGHT? I MEAN, IF IT'S FAR LESS, THERE WILL BE A REDUCTION. 
          THIS IS AN ACTUAL REQUIREMENT THAT'S GONNA GO INTO COURT COUNCIL. 
          IT'S GONNA, IT'S PART OF THE RESOLUTION FOR THE PROJECT. 
          OKAY. 
          AND IT WILL AFFECT TO THE DEVELOPMENT AGREEMENT FOR THE PROJECT. 
          I MEAN LESS THAT THE LOOPHOLE IS IF, IF A, IF THE OWNER DEVELOPMENT REQUIRES IT FOR 100, BUT THAT SPEND PROSTATE 72 NOT EVEN ELSEWHERE, WE WOULD JUST NEED EVIDENCE. 
          OKAY. 
          UH, I, UM, THIS, IT'S EXACTLY WHAT WE DID. 
          THE TEMP DISTRICT, UH, FOR THE DESIGN DISTRICT WHERE, YOU KNOW, ALL THE NUMBERS MOVE AROUND, IT'S A FULL ACCOUNTING DOWN TO THE, THE SCREW THE NUT AND THE CRACK AND THE SIDEWALK AS, AS IS DON'T HAVE THE PART, THE THE BUILDING CURRENTLY HAS BOTH, BOTH BUILDING PARKING AND THEN HAS THE GARAGE THAT HAS THE TEXAS CLUB OVER IT. 
          OKAY. 
          THAT, THAT WE ARE ACQUIRING WITH AS PART OF IT. 
          YES. 
          OKAY. 
          SO LOT SPACES NEW CONSTRUCTION THERE,  YES, YES. 
          NUMBER 0.75 TOTAL SPACE. 
          SO YOU'LL, YOU'LL HAVE 2,500 BY THE TIME TWO AND FOUR, WELL, 2500, 1 0.5 MILLION. 
          SO IT'S, YEAH, THAT'S LESS. 
          UH, OKAY. 
          WANT THE FELLOW MEMBERS, THE BOARD TO KNOW AND THE APPLICANT TO KNOW, RESPECTED, DEVELOP GROUP PACE OUT ON HOPE, GLOBAL, RESPECTED FOLKS, THESE QUESTIONS ARE MORE, UH, ING. 
          JOSEPH? JOSEPH, I'M SORRY TO INTERRUPT. 
          UM, SO WHEN YOU TURN TOWARDS THE BACK OF THE, UH, ROOM, I, I DON'T KNOW WHAT GOES ON WITH THE MIC, BUT IT, UH, I I THINK IT SHOULD BECOME BACKGROUND NOISE AND, AND CANCELS YOU OUT. 
          OKAY. 
          IT'S HARD TO HEAR. 
          CAN'T HEAR WHAT YOU SAID, LUIS. 
          AM I REPEATING? OH, THAT I WAS ECHOING BILLY'S STATEMENTS THAT IT'S HARD FOR US ONLINE TO HEAR WHEN YOU AREN'T LOOKING TOWARDS THE MIC AND YOU'RE TALKING TO THE BACK OF THE ROOM. 
          OKAY. 
          THANK YOU FOR THAT. 
          SO I WAS JUST, THANK YOU LISA. 
          I AND BILLY, I WAS SUGGESTING TO THE APPLICANT THAT I WANNA MAKE A COUPLE COMMENTS ABOUT THE PACKAGE THAT'S PRESENTED THAT ARE, I HOPE NOT DISRESPECTFUL. 
          THEY'RE, THEY'RE PRODDING A FELLOW, UH, DEVELOPER, UH, SPONSOR. 
          SO SOME OF THIS MAY BE NICK BUILDS ON WHAT YOU WERE SAYING ABOUT THE PARKING STRUCTURE. 
          WE ARE OVER PARKED. 
          HOWEVER, I TOTALLY APPRECIATE THE APPLICANT'S, UH, VERY VALID POINT THAT IT'S ABOUT PROVING YOU HAVE PERMANENT PARKING THAT YOU CAN, THAT YOU CAN LEASE TO A TENANT. 
          AND I ACCEPT THAT, UH, 100%. 
          THAT SAID, I I AM, I WISH FOR A DIFFERENT STANDARD FOR PARKING STRUCTURES IN OUR CITY AND OUR URBAN CORE, ESPECIALLY THAT THEY HAVE STUFF ON TOP OF 'EM, STUFF AT THE BASE AS THIS DOES THAT, THAT, YOU KNOW, BRINGS VIBRANCY TO OUR CITY. 
          AND THAT, YOU KNOW, ONE, ONE WONDERS AND I'LL, I'LL SUPPOSE I WON'T TURN TO THE APPLICANT, BUT I'LL ASK THE APPLICANT THIS QUESTION, WHAT HAPPENS TO THOSE 1100 SPACES AFTER HOURS AND ON WEEKENDS? GREAT. 
          UM, THANK YOU, UH, 
          [01:00:02]
 WANTING THE BEST FOR, FOR ALL OF US, UH, AGAIN, TO DOUBLE BACK ON THE PARKING COUNT, UM, TO MR. SEAMAN'S QUESTION ABOUT PARKING. 
          IF I WERE BUILDING UP ON THE TOLL ROAD, WHICH BENNY OF US HERE, THIS WOULD'VE DONE IF I WAS BUILDING IT UPTOWN AS MANY OF US HAVE DONE OR ANY PLACE ELSE, I WOULD BUILD NOT TO LESS THAN 3.5 3000 IN PRESTON CENTER. 
          I BUILT A 2.8 PER THOUSAND BECAUSE I THOUGHT IF AT THE TERRACE IS IN THE MIDDLE BECAUSE I COULD CROSS PARK WITH OTHER BUILDINGS, SO I'M BUILDING IT LESS THAN TWO PER THOUSAND BECAUSE I'M ASSUMING CROSS PARKING AND TRYING TO KEEP THAT FIELD DOWN. 
          AND YES, TO YOUR NEXT QUESTION, UH, ONE OF THE THINGS WHICH CITY STAFF ASKED US TO DO WAS TO SHOW THE GARAGE WAS WITHOUT ANYTHING ON TOP OF IT. 
          BUT YES, WE WOULD, UH, COMMENSURATE MAYBE WITH THE GARAGE ACROSS FROM TRAVEL COURSE CENTER WITH THE JW MARRIED ON TOP. 
          YES IT IS. 
          YOU SHOULD USE THAT. 
          BUILD MORE GARAGE LATER ON TOP OF IT AND BUILD ON TOP OF IT. 
          AND THAT'S HOW WE FULLY BUILD OUT, CROSS UTILIZE AND HAVE REFERENCE AND YES, THAT WOULD BE FULLY PART OF WHAT ONE SHOULD THINK THROUGH AND DO A ABSOLUTELY. 
          AND UM, PART OF THE NOTION IS YOUR GARAGE PARKING FOR HOTEL, YOUR GARAGE PARKING FOR BALLROOM, FOR EVENING EVENTS FOR THE CLUB IS OFF HOURS. 
          SO IF YOU THINK ABOUT THE FACT THAT I'M ONLY BUILDING AT LESS THAN TWO PER THOUSAND ON OFFICE, THEN I REALLY NEED 3% THOUSAND SUB FACTORING SHARING ECONOMY AND OTHER FORMS OF MOBILITY AND I'M CROSS UTILIZING AFTER HOURS FOR F AND B AND ENTERTAINMENT AND BALLROOM. 
          I'M ALREADY ULI WITH TAKE OUT A BAT GETTING IN THE HEAD FOR HOW HIGH MY PERCENTAGE IS, BUT THAT'S WHAT I BELIEVE WE SHOULD DO. 
          SO YES. 
          THEN THE, THE MOST IMPORTANTLY THE VEIN OF THINKING YOU'RE GOING ABSOLUTELY, IT'S ALL IN THERE. 
          IT IS HAS TO BE INTEGRAL. 
          SO YES, WE HAVE CROSS UTILIZED AND ARGUABLY MAYBE OVERUTILIZED, BUT THAT'S WHAT WE'RE SUPPOSED TO DO. 
          YEAH. 
          SO THAT'S WHAT I'M DOING. 
          IT'S URBAN, BE URBAN. 
          AND I'LL JUST ADD, UM, THERE ARE RENDERINGS FOR THIS PROJECT WITH AN ADDITIONAL TOWER ON TOP OF THE GARAGE, BUT I ASKED STAFF ASKED FOR, UH, FOR THAT TOWER TO BE REMOVED BECAUSE THAT IS NOT A PART OF OUR CONSIDERATION. 
          UM, IN THE, I THINK IN THE NARRATIVE WITH THE URBAN DESIGN PEER REVIEW PANEL, THAT THAT WAS ONE OF THEIR REQUESTS THAT AS ADDITIONAL REDEVELOPMENT OCCURS IN THIS AREA BY THE DEVELOPER, THAT THEY BRING IT BACK. 
          AND SO WE DIDN'T WANT TO INCLUDE THIS AND SOMEHOW PRESENT TO SOMEONE AND MAYBE NOT YOU GUYS AND MAYBE THE PUBLIC IT, THAT THERE WOULD BE SOME TYPE OF TOWER ON THE PRO ON THE GARAGE. 
          AND THAT IS A PART OF THIS CONSIDERATION BECAUSE IT IS NOT, BUT ARE YOU BUILDING FROM A STRUCTURAL STANDPOINT, YOU'RE BUILDING THE CAPACITY TO GO VERTICAL OFF THE GARAGE? ABSOLUTELY. 
          THAT WILL BE EXTRA EXPENSE NOT SHOWING. 
          RIGHT. 
          IS THAT A REQUIREMENT, UM, IN THE TIFF AWARD THAT THE GARAGE IS CAPABLE OF, OF SUPPORTING A REQUIREMENT IN THE TIFF AWARD? WE CAN ADD IT IF THE BOARD WOULD LIKE TO, BUT I WILL SHARE WITH YOU THAT IS KIND OF OUR STANCE FOR, FIRST OF ALL, WE'RE NOT FANS OF SINGLE-USE STANDALONE PARKING GARAGES. 
          WE AREN'T. 
          THE OFFICE OF ECONOMIC DEVELOPMENT IS NOT, UM, WE HAVE BEEN APPROACHED IN OTHER AREAS WHERE THAT'S WHAT THEY'RE PROPOSING AND THE FIRST THING WE SAY TO THEM IS, CAN WE UNDERSTAND YOU CAN'T DO IT NOW, BUT CAN YOU ENSURE CONSTRUCTION IS, UH, SUBSTANTIAL ENOUGH OR WILL BE ABLE TO SUPPORT GOING VERTICAL? UH, ANOTHER THING THAT WE TALK ABOUT THROUGH PEER REVIEW IN, UM, URBAN DESIGN IS WHETHER OR NOT YOU CAN CONVERT THE GARAGE AT A LATER DATE. 
          SAY YOU NO LONGER NEED ALL THE SPACES, CAN THIS BE TURNED INTO SOME OTHER USE? SO THAT IS DEFINITELY SOMETHING THAT WE ADVOCATE FOR, THAT WE PUSH FOR AND THAT WE THINK OF WHENEVER WE SEE A STANDALONE GARAGE. 
          BUT YOU'RE RIGHT, BILLY, IN THAT IT'S NOT AN EXPLICIT CONDITION AND IF THE TIF BOARD WANTS TO ADD THAT, WE CAN DO THAT. 
          I WOULD GRANT SPEAK CHAIR, I SPEAK PLEASE. 
          UM, YES, I INTEND TO MAKE A PORTION OF THE GARAGE FLAT PLATE, WHICH COULD LATER BE, UH, REDONE INTO AN ALTERNATE USE, BUT I DID NOT SPECIFY THAT BECAUSE YOU'RE GONNA DO THAT WHEN YOU REALLY DETAIL OUT THE DESIGN AND NO, I DID NOT INCLUDE THE STRUCTURE IN IT TO BUILD 
          [01:05:01]
ABOVE IT BECAUSE I'VE GOTTA FIGURE OUT HOW TO DO THAT AND HOW THE COST TO DO IT. 
          I WOULD RESPECTFULLY REQUEST THAT THAT IS NOT ADDED IN, BUT ADD THAT ANY DEVELOPER WITH THEIR SALT IS GOING TO DO THAT ANYWAYS TO THE BEST OF THEIR ABILITY. 
          AND IT WOULD BE, YOU WOULD NOT DO THAT. 
          NOT IF YOU'RE REALLY THINKING IT THROUGH, BUT I WOULD RESPECTFULLY REQUEST THAT YOU DON'T DO THAT BECAUSE AGAIN, UM, THAT'S A, UH, AN EXTRANEOUS BURDEN TO WHAT WE'RE TALKING ABOUT THAT WASN'T BOTTLED IN TO EVERYTHING THAT'S DONE. 
          THAT WOULD BE ADDING AN EXTRA COST TO THE BUDGET. 
          BUT IF YOU'RE ASKING ABOUT INTENTION, EVERYBODY HERE KNOWS ME WELL ENOUGH TO KNOW THAT I'LL BE DOING THAT AS BEST I CAN. 
          QUESTIONS I DON'T WANNA TALK WITH MIKE, UH, YOU THE BOARD MEMBER QUESTIONS. 
          OKAY. 
          ANOTHER QUESTION. 
          AFTER THE APPLICANT, WHERE IS YOUR BALLROOM OR WHATEVER LONG SPAN MEETING CONDITION THAT YOU HAVE IN THIS, THE HOTEL, DO THIS IN A WAY THAT EVERYBODY THAT'S ON SCREEN CAN SEE IT. 
          UM, PLEASE TELL ME IF THAT IS SEEABLE FOR YOU. 
          I'M, I'M LOOKING AT IT. 
          CAN YOU SEE THAT OKAY? YEAH. 
          OKAY. 
          SO CLEARLY YOU CAN'T LONG SPAN UNDERNEATH THE HIGH RISE, RIGHT? UM, 72 STORIES THAT FELT REAL WELL OVER A BALLROOM AND YOU CAN'T PUT A BALLROOM AT THE TOP BECAUSE YOU CAN'T, UM, MEET ANY KIND OF FIRE CODE FOR, FOR EXITING REQUIREMENTS. 
          SO WHAT WE'RE DOING IS THE PIECE HERE, THE LONG SPAN BALLROOM SITS WITHIN IT LIKE A CUBE WITHIN THE, UH, OYSTER, THE PEARL AND IT FLOATS WITHIN IT. 
          SO THERE'S NOTHING ACTUALLY TECHNICALLY ON TOP OF IT. 
          AND THAT'S HOW WE GET OUR BALLROOM THERE. 
          OKAY. 
          IT HAS A, IT HAS A HOME SO IT DOESN'T NEED TO GO ON TOP OF THE GARAGE, WHICH IS WHERE I WAS GOING. 
          YEAH, NO, NO. 
          OKAY. 
          YES. 
          NO, NOT AT ALL. 
          ALRIGHT. 
          UM, THIS, UH, GON, THIS CHIP BOARD IS NOT A DESIGN . 
          UM, I, I DO FIND MYSELF WISHING FOR, I'M SORRY, JOSEPH, WE WE CAN'T HEAR YOU AGAIN. 
          SORRY. 
          I WAS SUGGESTING THAT EVEN THOUGH WE'RE NOT AT TIME REVIEW BOARD, I WAS, I WAS ASKING THE APPLICANT TO CONSIDER A BETTER CONDITION FOR THE GROUND FOR RETAIL ON MAIN STREET ACROSS THE STREET FROM THE HOTEL, UH, ENTRANCE LOBBY. 
          AND ALKA DOESN'T EVEN NEED TO COMMENT ON THAT UNLESS THEY WISH TO, BUT IT'S JUST SOMETHING THAT I THINK YOU, YOU OBVIOUSLY HAVE SUPER TALENTED ARCHITECTS WORKING ON THIS. 
          I I THINK THEY CAN BRING THAT UP A NOTCH AND THAT DDI WOULD NOT OBJECT. 
          UNDERSTOOD. 
          UH, NO FURTHER QUESTION. 
          ANY OF THE BOARD MEMBER QUESTIONS, HEARING OF QUESTIONS THAT MAKES ME THINK WE'RE READY TO CALL. 
          I'M SORRY, REAL QUICK, JUST ONE QUESTION. 
          ARE WE ACTUALLY GOING TO PUT TO VOTE THE ADDITIONAL STRUCTURAL REQUIREMENT THAT BILLY MENTIONED? LET'S TALK ABOUT THAT THEN. 
          I MEAN, IF, IF IT'S THE INTENTION OF DOING IT, THEN IT'S, IT'S NOT REALLY AN OBLIGATION TO, TO IMPOSE. 
          IT'S, IT'S REALLY THE ONLY WAY TO MAKE SURE THAT THIS CAN EVENTUALLY BE MORE THAN JUST A GARAGE. 
          'CAUSE OTHERWISE, IF, IF WE, WE ALL KNOW IT'S GOING TO BE CHEAPER TO DO IT WITHOUT IT, UM, AND IT'S GOING TO INTRODUCE SOME COMPROMISES TO, TO ACCOMMODATE IT AND THOSE COMPROMISES ARE PROBABLY GONNA GET VALUE ENGINEERED OUT AND WE'RE GONNA END UP WITH A GARAGE THAT CAN'T EVER BE ANYTHING MORE THAN A GARAGE FOR THE NEXT 99 YEARS. 
          SO IF THAT'S, IF THAT'S NOT THE, UH, THE GOAL OF, OF THE TIF DISTRICT AND THE BOARD, WHICH I DON'T THINK THAT IT IS, I, I THINK WE SHOULD PROBABLY CONSIDER, UM, IMPOSING SOME SORT OF REQUIREMENT TO BE ABLE TO CARRY, 
          [01:10:02]
UM, YOU KNOW, AN ADDITIONAL USE ON TOP. 
          I JUST DON'T KNOW HOW TO GET THROUGH THAT IN THE NEXT 15 MINUTES. 
          UM, 'CAUSE IT'S, UM, A MORE COMPLICATED QUESTION. 
          I KNOW I WAS AT THE, UH, URBAN DESIGN PEER REVIEW PANEL MEETING. 
          I SAW SOME OF THE DESIGNS WITH, UH, RESIDENTIAL PROGRAMMING ON TOP AND I THINK THAT'S A, A GREAT PATH FORWARD. 
          UM, YOU KNOW, I I, I'D MUCH RATHER SEE THIS PROJECT WITH THAT BEING COMMITTED TO AT THE SAME TIME AND, AND, UH, YOU KNOW, INCLUDE AN AFFORDABLE HOUSING COMPONENT AND PROVIDE A COMMENSURATE, UH, INCREASE IN THE TIFF IN ORDER TO, TO FACILITATE, UH, THE, YOU KNOW, A MORE FULL EXECUTION OF THE PROJECT RATHER THAN SORT OF A TWO THIRDS OF THE WAY EXECUTION THAT, UM, YOU KNOW, I IS PROBABLY A, UM, I DON'T KNOW, UH, MAYBE THE, THE NORM FOR DOWNTOWN. 
          IF YOU THINK ABOUT WHAT, WHAT DOWNTOWN SUFFERS FROM IS A LOT OF HALF OR TWO THIRDS EXECUTED PROJECTS. 
          I'LL JUST, I'LL JUST PUSH BACK A BIT ON THE RESIDENTIAL TOWER IN THAT THAT WAS NOT A PART OF THE INCENTIVE APPLICATION. 
          WE CAN ONLY VOTE ON THE INCENTIVE APPLICATION. 
          WHAT HAS GONE THROUGH UNDERWRITING? WHAT HAS BEEN VETTED? UM, I DO BELIEVE THAT THERE IS THE INTENT TO BUILD THE RESIDENTIAL TOWER VERY SIMILAR TO THE STATLER PROJECT WHERE, UH, WE INCENTIVIZE THE STATLER AND THE OLD LIBRARY. 
          AND AS PART OF THAT THEY BUILT A FEW LEVELS OF UNDERGROUND PARKING GARAGE AND A FEW LEVELS ABOVE AND NOW THEY'RE BUILDING CONDOS ON TOP RIGHT NOW WE DID NOT, UM, HAVE ANY CONTRACTUAL REQUIREMENT WITH THE DEVELOPER FOR THEM TO COME BACK AND BUILD THE CONDOS. 
          IT JUST MADE SENSE. 
          ULTIMATELY, I THINK IT WILL MAKE SENSE TO BUILD RESIDENTIAL ON TOP OF THE GARAGE. 
          UM, BUT IT IS NOT A PART OF THIS PACKAGE THIS PROJECT AND SHOULD, I BELIEVE IT SHOULD NOT BE, UM, ANY TYPE OF REQUIREMENT FOR THE PROJECT? UM, I MEAN, THE, THE ISSUE IS THAT YOU'RE NOT GONNA BE ABLE TO BUILD RESI ON TOP OF THE GARAGE IF THE STRUCTURAL IS NOT SOUND ENOUGH TO HOLD THE LOAD. 
          SO WE'RE THE CONSTRUCTION OF A FULL CITY BLOCK STRUCTURED PARKING GARAGE. 
          CORRECT. 
          AND SO THERE IS A REMEDY FOR THAT. 
          IF YOU, UM, WE COULD ADD A CONDITION THAT GARAGE BE CONSTRUCTED IN A MANNER TO SUPPORT ADDITIONAL REDEVELOPMENT ON TOP, MAYBE ARTURO COULD PROVIDE WITH SOME LANGUAGE THAT, THAT MAKES SENSE. 
          BUT, UM, I, CONSIDERING AND REQUIRING THE RESIDENTIAL TOWERS TO BE CONSTRUCTED ON TOP OF THE GARAGE SHOULD NOT BE ONE OF THOSE RECOMMENDATIONS OR CONDITIONS. 
          WAS, WAS AN ADAPTIVE REUSE RESIDENTIAL COMPONENT WITHIN THE TOWER EVER CONSIDERED? NO. 
          UH, IT, IT, IT, IT IS, AND AGAIN, THIS IS A, NOT A TALK ABOUT ANY OTHER BUILDING OTHER THAN THIS SPECIFIC BUILDING TO THE OFFICE AND HOSPITALITY WITH RETAIL AT THE BASE AND, UM, QUITE SPECIFIC AND ONLY TO THAT. 
          THAT'S PART OF THE WHOLE, I MEAN, AS EVERYBODY HERE KNOWS, THAT'S YOU'RE TALKING ABOUT NOT JUST ADDING SOME STRUCTURE, IT CHANGES ALL YOUR FINANCING, WHO FINANCES, HOW IT'S FINANCED, WHICH FOOD GROUPS YOU'RE IN, HOW YOU GET FUNDED, HOW YOU GO FORWARD RIGHT NOW. 
          SO, UM, RESIDENTIAL WAS NEVER CONSIDERED A COMPONENT BY US FOR THIS BUILDING. 
          I THINK IT'S A GREAT OPTION FOR A LOT OF BUILDINGS AND A LOT OF PROJECTS FOR THIS BUILDING. 
          IT IS SPECIFICALLY ONLY OFFICE HOSPITALITY. 
          OKAY. 
          UH, NICK AND BILLY, YOU HAVE LED THE DISCUSSION OF THIS PARTICULAR QUESTION, BUT I'M GONNA INTERJECT AND SAY IT SEEMS LIKE WE HAVE A COUPLE OF WAYS TO PROCEED. 
          WE'VE ALSO HEARD, UH, STAFF, I USE STAFF'S WORD PUSHBACK, UH, ON THE, ON THE TOPIC. 
          WE CAN, WE CAN WORK AT THIS MOMENT TO DEVELOP LANGUAGE THAT GIVES US MORE COMFORT THAT SOMETHING WILL BE BUILT ON A GARAGE AND MAKE THAT CONDITION. 
          WE COULD ALSO VOTE ON THE PROJECT AS IS A YES VOTE IS A YES VOTE. 
          WE HAVE NO, UH, SECURITY THAT, THAT SUCH DEVELOPMENTAL 
          [01:15:01]
TOPIC LIKE WILL HAPPEN. 
          WE COULD VOTE AS IS IN A NO VOTE WITHOUT PREJUDICE, WOULD POTENTIALLY GET THE APPLICANT TO RECONSIDER THE MATTER AND COME BACK TO US. 
          WELL, I'LL JUST, THAT'S NOT THE PROCESS. 
          IF UM, YOU GUYS DO NOT, UH, APPROVE THE PROJECT, WE'LL STILL MOVE FORWARD TO CITY COUNCIL. 
          OKAY. 
          THANK YOU. 
          AND IT WILL JUST BE DOCUMENTED THAT SHE DID NOT RECOMMEND APPROVAL. 
          OKAY. 
          I APPRECIATE THAT CLARIFICATION. 
          DIFFERENT BOARD, DIFFERENT BUREAU I GET. 
          CAN I ASK A QUESTION? ANY TIPS BEEN NOT BY APPROVED BY CITY COUNCIL? I'M SORRY. 
          I COULDN'T, I COULDN'T HEAR THE QUESTION. 
          YES, NO. 
          OKAY. 
          WELL, WHAT WAS THE QUESTION? I'M ASKING THIS, I'M THINK THIS A QUESTION TO STAFF RATHER MISTAKEN BY, BY THIS PROTOCOL, IS THERE A POSSIBILITY FOR THE APPLICANT TO TECHNICAL TERMIN TO REQUEST THAT THERE BE NO VOTE TODAY NOR TO AVOID A NO VOTE? I MEAN, IT COULD, BUT, UM, I THINK ULTIMATELY WE WOULD LIKE TO DO THE PROJECT MOVE FORWARD. 
          IF IT'S A YES OR NO, SURE. 
          THE APPLICANT CAN REQUEST THAT THE, UH, TABLE AND BRING IT BACK TO A DATE SPECIFIC. 
          BUT, UM, THAT WILL BE UP TO THE APPLICANT. 
          I DON'T THINK THAT, THAT, WHAT I'M SAYING IS THAT STAFF WOULD PREFER FOR THERE TO BE A VOTE TODAY. 
          AND WE CONTINUE ON THAT OUTLINED IN OUR . 
          I UNDERSTAND, BUT THE, THE APPLICANT HAS THE ABILITY, DOES HAVE THE ABILITY, WHATEVER WE CALL IT, TABLE WITHDRAW, DRAW TODAY. 
          YES. 
          WHATEVER WE CALL. 
          OKAY. 
          UH, I THINK THE APPLICANT HAD A, HAD A QUESTION OR COMMENT. 
          YEAH. 
          THE APPLICANT DOESN'T HAVE THAT CAPACITY. 
          UM, THAT'S ON US. 
          RIGHT. 
          AND IN ORDER TO MEET THE DEADLINES FOR THE, THE ACQUISITION OF THE PRO OF THE PROPERTY, UM, CITY COUNCIL ONLY MEETS ONE TIME IN NOVEMBER AND DECEMBER. 
          AND SO THE SCHEDULE IS SET THE WAY THAT IT IS TO ENSURE THAT THE APPLICANT IS ABLE TO ACQUIRE THE BUILDING, THE APPLICANT THAT AFTER THIS DEADLINE IS NOT UNTIL SEPTEMBER 26TH. 
          CORRECT? RIGHT. 
          AND AS I MENTIONED, WE GIVE LEEWAY AND WE GIVE ADDITIONAL TIME WITH OUR DEADLINES TO, TO COUNT TO ACCOUNT FOR UNFORESEEN HICCUPS OR DELAY. 
          AND SO WE, WE ARE AWARE OF WHAT THEIR DEADLINES ARE AS IT RELATES TO PURCHASING THE BUILDING. 
          THE DEADLINES THAT ARE IN HERE ARE, SHOULD SOMETHING HAPPEN. 
          OKAY. 
          THEN, THEN I'M GONNA ASK THE APPLICANT WHAT IS THE, WHAT IS THE DEADLINE FOR CLOSING ON THE PROPERTY IF THE APPLICANT SHARE THAT? UH, YEAH. 
          MY CONTRACT DATE IS AT, CAN I KEEP TALKING PLEASE GUYS, I APPRECIATE WHERE WE'RE COMING FROM. 
          THERE'S A FUNGIBILITY HERE THAT I CAN'T STEP PAST. 
          AND IF ONE WAS TO SAY WE WANT ADDITIONAL STRUCTURE, THEN YOU HAVE TO HAVE GREAT SPECIFICITY OF STRUCTURE FOR WHAT? AND THEN THAT TAKES DESIGN AND THEN THAT TAKES PRICING AND IT TAKES A REAPPLICATION. 
          UM, I CAN'T DO IT. 
          THIS HAS BEEN DONE BEFORE WHERE THERE IS AN UNDERSTANDING OF DESIRE. 
          IT IS IN THE APPLICANT'S BEST INTEREST TO OVER STRUCTURE IT. 
          IF YOU'RE GONNA OVERLAY A REQUIREMENT ONTO THE APPLICANT, THEN FOR WHAT, IS IT GONNA BE A HOTEL IN FIVE YEARS, ANOTHER HOTEL, IS IT GONNA BE CONDOS? IS IT GONNA BE APARTMENTS? BECAUSE I'M, I'M LOOKING AT A NUMBER OF PERSONS HERE WHO HAVE BUILT ALL OF THE ABOVE AND THEY KNOW THEY WOULD STRUCTURE THE GARAGE DIFFERENTLY DEPENDING ON WHICH THEY DID. 
          SO THEY PUT A REQUIREMENT UP THERE TO PUT SOME STRUCTURE KNOWING THAT IT, THERE'S A LARGE PERCENTAGE, YOU PUT THE WRONG STRUCTURE THERE IN THE FIRST PLACE BECAUSE YOU'RE CHANGING WHAT YOU'RE GONNA DO. 
          I DON'T KNOW HOW YOU DO THAT. 
          I MEAN, I'VE GOTTA TAKE MY BEST SHOT IF I'M GONNA DO IT WHEN I DO IT. 
          AND I APPRECIATE THE SENTIMENT OF NOT HAVING THE CITY BLOCK THE ONLY PARKING. 
          I DON'T WANT THAT, THAT IS NOT PART OF WHAT THIS APPLICATION IS ABOUT. 
          AND THAT CHANGES THE DYNAMIC OF WHAT WE'RE TALKING ABOUT. 
          THIS IS ALREADY AN ENORMOUS LIFT. 
          SO WE HAVE THE LARGEST LIFT OF A REDO AND TO ADD ANOTHER REQUIREMENT FOR ANOTHER BUILDING ON TOP OF THAT, AT 
          [01:20:01]
SOME CERTAIN POINT EVERYBODY HEARS THE FINANCIAL MARKETS AGAINST. 
          I'M CAREFULLY SAYING I DON'T WANT US TO BE PUSHED OUT OF DOING A PROJECT 'CAUSE WE'RE ASKING FOR TOO MUCH. 
          WHEN THE APPLICANT IS ALREADY SAYING, I'M GOING ALL IN, ALL IN AND TO THE POINT THAT WAS REQUESTED, IF APPLICANT PAYS $10 OFF THE CONTRACT TO QUALIFY FOR THE TIP, THEY GOTTA PUT 10 MORE DOLLARS BACK IN. 
          SO, UM, EVEN IF YOU DID SAY WE WANT STRUCTURE, HOW DOES WORK QUALIFY THAT HERE? BECAUSE WE GO TO ECO DEV COMMITTEE IN TWO DAYS AND WE GO TO THE 22ND TO CITY COUNCIL. 
          AND EVERYBODY HERE HAS BEEN ON TIMELINES THAT ARE TIGHT AND TIMELINES THAT YOU MAKE AND THEN TIMELINES THAT ARE GIVEN TO YOU. 
          AND I'M TRYING TO THREAD A NEEDLE HERE AND I'M TRYING TO BE STRONG ABOUT IT, BE COMPLETELY RESPECTFUL AND BE OPEN TO THE CONVERSATION. 
          I JUST DOUBLE HAS NOT BEEN OKAY. 
          I'M GONNA, I'M GONNA ADDRESS THE BOARD, BUT I'M ADDRESSING THE APPLICANT. 
          AH, I'LL, LUIS, I SEE YOUR HAND RAISED FIRST. 
          GO AHEAD PLEASE. 
          THANK YOU. 
          I HEARD TAMARA FROM ECONOMIC DEVELOPMENT SAY THAT THE CITY IS OPPOSED TO PARKING STRUCTURES WITH NOTHING, WITH NO POTENTIAL FOR SOMETHING ABOVE THEM. 
          AND I THINK I HEARD THE APPLICANT SAY THAT, UH, THEY THEMSELVES WOULD NOT DO A PROJECT WITHOUT THAT POSSIBILITY. 
          I AM STRUGGLING THEN TO FIND WHAT THE IMPASSE IS TO, FOR SOME LANGUAGE THAT ALLOWS FOR THAT POSSIBILITY. 
          I THINK THE APPLICANT JUST, UH, PROVIDED AN EXPLANATION. 
          AND SO  WAS IT THAT THEY DON'T KNOW WHAT THE WEIGHT IS GONNA BE. 
          LUIS, CAN YOU, CAN YOU SPEAK UP PLEASE? WE'RE HAVING TROUBLE HEARING YOU. 
          SURE. 
          SO I HEARD THE EXPLANATION AND I'LL, I'LL PUT IT SUCCINCTLY. 
          WHAT I UNDERSTOOD WAS THAT BECAUSE YOU DON'T KNOW WHAT THE USE AND THEREFORE THE WEIGHT IS GONNA BE, YOU CAN'T DO ANYTHING OR YOU'D PREFER NOT TO PUT ANY ENCUMBRANCE. 
          IS THAT, IS THAT WHAT I HEARD? I BELIEVE HE SAID HE DOESN'T WANT IT TO BE AN ACTUAL CONDITION FOR THIS PROJECT. 
          RIGHT. 
          THERE WOULD BE NO ENCUMBRANCE ON THIS PROJECT BECAUSE THEY DON'T KNOW WHAT THE WEIGHT IS GONNA BE. 
          I BELIEVE SO THAT'S WHAT YOU SAID. 
          MAY I, LUIS, COULD YOU, COULD YOU PHRASE THAT AS A QUESTION FOR THE APPLICANT, PLEASE? SURE. 
          THE, THE PHRASE FOR THE APPLICANT, REPHRASE FOR THE APPLICANT WOULD BE, WHAT WOULD YOU, WHAT CONDITION, OTHER THAN NONE, WOULD YOU ENCUMBER THIS PROJECT WITH AT THIS POINT? WHAT, WHAT CONDITION WOULD BE ACCEPTABLE TO SAY THAT YOU'RE GOING TO PUT SOMETHING OR LEAVE THE POSSIBILITY OPEN TO PUT SOMETHING ON TOP OF THIS STRUCTURE AND NOT JUST BE A PARKING STRUCTURE? THANK YOU. 
          ANY QUESTIONS FROM? YES, AND I APPRECIATE THE BOARD DOING EXACTLY WHAT IT IS HERE TO DO. 
          AND THE STAFF PROCESS THAT WE'VE GONE THROUGH OVER A YEAR IS FOCUSED ON THIS, INCLUDING THE DESIGN REVIEW BOARD TO GET TO THIS POINT AND THAT WE'RE HAVING A, UH,  BEST I CAN, MR. UH, CAMA, UM, TO ADD A COMPLETE REQUIREMENT RIGHT NOW TO ADD STRUCTURE TO BUILD WHERE I DON'T HAVE TIME TO REALLY THINK IT THROUGH A MOVEMENT. 
          AND WHEN YOU HEAR ME PUSHING BACK ON IS THE ADDITION OF AN ABSOLUTE WRIT TO, TO THE ENTIRE TIFF THAT I CAN'T PUT MY ARMS AROUND RIGHT NOW ON HOW TO DESIGN FOR WHAT WE'RE DOING RIGHT NOW. 
          EVERYBODY KNOWS THESE ARE INCREMENTAL STEPS AND THIS HAS NEVER BEEN PART OF THE CONVERSATION. 
          IT'S ALWAYS BEEN PART OF THE THOUGHT PROCESS, BUT IT HASN'T BEEN DESIGNED IN. 
          AND THEN WHEN ONE DOES THAT, YOU'RE GONNA DO THAT WHEN YOU'RE DESIGNING THE GARAGE BECAUSE IF YOU'RE GONNA DO IT, YOU PROBABLY OVER STRUCTURE, NOT JUST THE WEIGHT BEARING OF THE GARAGE, BUT YOU SET UP THE GARAGE, YOU BUILD A FLOOR OR TWO MORE BECAUSE NOW YOU HAVE TO ABSORB THE ADDITIONAL PARKING FOR WHATEVER YOU PUT ON TOP OF IT. 
          THAT IS AN INCREDIBLY COMPLEX PROCESS TO WORK THROUGH. 
          I SAY THAT AS AN ENGINEER AND AS AN ARCHITECT, THOUGH I DON'T CARRY THOSE LICENSES NOW, BUT IT'S EDUCATED THAT THAT IS 
          [01:25:01]
A HIGHLY INTEGRAL PROCESS. 
          AND MY HEAD IS PROCESSING REALLY HARD ON HOW TO PUT IN WRITING FOUR LINES AND WRITE IT IN RIGHT NOW AS PART OF THIS, TO DO SOMETHING THAT IS THAT COMPLEX AND NOT PUT IN SOMETHING THAT UNDERMINES OR STOPS AN ENTIRE MASSIVE $400 MILLION REDEVELOPMENT PROJECT. 
          THAT'S WHAT I'M GRAPPLING WITH. 
          I'M NOT PUSHING BACK ON THE IDEA I'M PROCESS. 
          I'M PUSHING BACK ON HOW DO I INTEGRATE THAT. 
          AND AGAIN, LET'S GO BACK TO PRECEDENT STUDY. 
          IT WAS NOT IN THE STATLER, AND YET THEY FIGURED HOW TO DO IT SO THAT THEY CAN EXECUTE. 
          IT WOULD BEEN 10 YEARS LATER, 15 YEARS LATER, IT'S HAPPENING. 
          IT'S EXACTLY WHAT IT'S HAPPENING. 
          ALL RIGHT. 
          UM, TRYING TO, TO GET US OFF HIGH CENTER HERE, I HAVE, I HAVE A THOUGHT AND I'M GONNA UM, PHRASE MY THOUGHT IN THE, IN THE FORM OF A MOTION AND WE CAN DO SOMETHING WITH IT OR NOT DO SOMETHING WITH IT, WHATEVER, UH, THE REST OF THE BOARD DESIRES. 
          BUT, UM, I'M GONNA MAKE A MOTION THAT WE RECOMMEND APPROVAL OF THE APPLICATION, BUT WE ADD THE STIPULATION THAT THE GARAGE MUST BE DESIGNED TO ACCOMMODATE THE ADDITION, THE ADDITIONAL LOAD OF AT LEAST 200 RESIDENTIAL UNITS, AND THAT THE RECOMMENDED AWARD OF $98 MILLION BE INCREASED BY UP TO $5 MILLION TO ACCOMMODATE THE ADDITIONAL EXPENSE OF INCORPORATING, UH, THESE DESIGN LOADS INTO THE DESIGN GARAGE. 
          WE HAVE A MOTION, BEFORE I ASK FOR A SECOND, I WANNA ASK THAT THE MOTION SATISFIES ANY, SATISFIES ALL NORMAL PROTOCOLS IN THIS BODY. 
          I WOULD JUST ASK BILLY, HOW MANY UNITS DID YOU SAY? TWO. 
          WHAT? I SAID 200. 
          MAY I MAKE A REQUEST FOR, UM, ONE SECOND. 
          PARDON? ASK FOR A SECOND DISCUSSION ON THE MOTION. 
          JUST WANNA MAKE SURE THE MOTION WAS, WAS PROPER PROTOCOL. 
          WE HAVE A MOTION. 
          UH, I SEE MS. A FURIOUSLY MAKING NOTES. 
          COULD YOU REPEAT THE MOTION? OH, UM, RECOMMENDATION IS TO APPROVE THE BOARD, UM, RECOMMENDS APPROVAL OF THE PROJECT, BUT THE PROJECT MUST BE, OR THE PARKING GARAGE MUST BE DESIGNED TO ACCOMMODATE AT LEAST 200 RESIDENTIAL UNITS TO BE CONSTRUCTED ON TOP AND, UH, PROVIDE FOR AN INCREASE UP TO $5 MILLION TO SUPPORT THIS REQUIREMENT. 
          AND THAT'S NOT EXACTLY WHAT YOU SAID, BUT THAT'S THE GIST. 
          MR. ? YES, THAT IS OUR, THAT IS OUR MOTION. 
          DO WE HAVE A SECOND, LISA, I HAVE TO ASK FOR A SECOND BEFORE WE TAKE DISCUSSION PLEASE. 
          OKAY. 
          I JUST MISUNDERSTOOD THE MOTION THEN. 
          I'M SORRY. 
          OKAY. 
          UH, WE, THE MOTION MAKER AGREES WITH GENERALLY SPEAKING THE FORM THAT MS. S WE READ IT. 
          WE HAVE THE MOTION. 
          DO WE HAVE A SECOND? I SECOND A MOTION SECOND. 
          NOW DISCUSSION ON THE MOTION, INCLUDING I'LL RECOGNIZE THE APPLICANT. 
          GO AHEAD, SIR. 
          UM, MR. KRU, WOULD YOU PLEASE PROVIDE YOUR MOTION TO BE EITHER 200 RESIDENTIAL UNITS OR 200 MULTI OR 200 KEYS OF HOSPITALITY HOTEL? UM, YEAH, I THINK THAT'S FAIR. 
          UH, I BELIEVE MY PROTOCOL, I HAVE TO ASK THE SECOND IF THAT AMENDMENT IS ACCEPTABLE. 
          MR. SEAMAN? UH, NO, I'M, I'M NOT GONNA SIGN ON FOR THAT ONE. 
          I DON'T THINK WE SHOULD GET INTO REGULATING USE. 
          UM, WE SHOULD AT LEAST PROVIDE THE MOST ABOUT AMOUNT OF FLEXIBILITY. 
          IF THE GOAL HERE IS TO ENSURE THAT WE GET A STANDALONE PARKING GARAGE THAT CAN SUPPORT ADDITIONAL DEVELOPMENT, UH, WE SHOULD ALLOW THE DEVELOPER TO HAVE WITHIN THEIR PURVIEW TO DECIDE WHAT THAT DEVELOPMENT SHOULD BE. 
          ALRIGHT, CAMERON, THAT'S UH, THAT'S A 
          [01:30:01]
GOOD POINT, LUIS, WITH THAT GOOD POINT MADE MR. SEAMAN, OR DO YOU ACCEPT THE AMENDMENT? WE HAVE AN AMENDED MOTION. 
          WE HAVE, UH, AN ACCEPTANCE OF THE AMENDED MOTION BY OUR SECONDER. 
          ANY MORE DISCUSSION ON THE MOTION? LUIS, DID YOU HAVE A QUESTION? IT WAS, I UNDERSTOOD THE ORIGINAL MOTION TO BE, TO CARRY THE LOAD OF THE EQUIVALENT OF 200 RESIDENTIAL UNITS, NOT THAT THEY BE 200 RESIDENTIAL UNITS. 
          WELL, I DON'T KNOW HOW THAT EQUATES TO ANY OTHER USE. 
          IT COULD BE OTHER USES, BUT IT'S YEAH, THE EQUIVALENT. 
          OKAY. 
          IS THE LOAD GENERALLY EQUIVALENT? MR. P YOU, MR. UH, THE, THE APPLICANT? IF THERE'S ANY MORE DISCUSSION WITH THE BOARD, THE APPLICANT IS ASKED TO SPEAK AGAIN, BUT I WANT TO GIVE BOARD MEMBERS THEIR CHANCE TO DISCUSS THE MOTION AS MADE BY MR. PRUITT. 
          I, I'LL JUST SAY IN, IN MY MIND, THE, UM, YOU'RE PROBABLY GOING TO HAVE TO DESIGN FOR ONE OR THE OTHER IN TERMS OF COLUMN SPACING AND THAT SORT OF THING. 
          AND I'M, I'M SURE MR. AVALON UNDERSTANDS THAT, BUT I, I DON'T MIND THE FLEXIBILITY, WHICH AS LUIS WAS PICKING UP ON, THAT'S WHY I KIND OF SUGGESTED THAT IT WAS THE LOAD OF 200 UNITS. 
          'CAUSE YOU KNOW, WHETHER IT ENDS UP BEING 300 UNITS OR 185 UNITS, YOU MIGHT DESIGN TO A PARTICULAR CAPACITY. 
          AND THEN IN THE FUTURE YOU MIGHT FIND THAT THERE'S NOT DEMAND FOR THAT FULL DESIGN CAPACITY AND YOU DO SOMETHING ELSE. 
          THERE'S OBVIOUSLY NO OBLIGATION TO EVER BUILD ANYTHING ELSE ON TOP OF IT. 
          SO IT'S REALLY JUST WHAT THE DESIGN LOAD CAN ACCOMMODATE AT LEAST A MINIMUM OF SOMETHING. 
          SO I THINK IF THE DESIGN LOAD CAN ACCOMMODATE A MINIMUM OF 200 RESIDENTIAL UNITS OR 200 MULTIFAMILY UNITS, WE CAN, WE CAN PROBABLY GET COMFORTABLE EITHER WAY. 
          WE JUST WANNA KNOW THAT WE'RE, WE'RE NOT BOXED OUT FROM EVER HAVING SOMETHING ELSE ON TOP OF THE GARAGE. 
          NO PUN PENDING THAT I'M SURE WE HAVE A MOTION AS AMENDED. 
          WE HAVE A SECOND. 
          MR. ASK THIS QUESTION. 
          ANY OTHER QUESTIONS FROM THE BOARD MEMBERS BEFORE I INVITE THE APPLICANT TO SPEAK AGAIN? AND I WOULD ASK THE APPLICANT TO, WITH RESPECT, LET'S MAKE THIS THE LAST COMMENT AND PUBLIC THANK YOU FOR YOUR TIME AND CONSIDERATION. 
          OKAY. 
          IF THERE'S NO MORE DISCUSSION FROM THE BOARD, WE WILL CALL THE QUESTION. 
          UH, WE NEED TO REREAD THE AMENDED MOTION. 
          I JUST AMENDED THE MOTION TO ENSURE THAT IT SAYS THAT IT'S DESIGNED TO ACCOMMODATE THE DESIGN LEVEL, UH, EQUIVALENT TO 200 MINUTES FOR 200 HOTEL ROOMS. YES. 
          OKAY. 
          WE'RE GOING TO CALL FOR VOTE. 
          ALL IN FAVOR OF THE MOTION IS MADE BY MR. PRUITT, UH, SECONDED BY MR. SEAMAN AND ULTIMATELY AMENDED. 
          ALL IN FAVOR SAY AYE. 
          AYE. 
          ANY OPPOSED? UH, ARTURO. 
          I DIDN'T SEE YOUR VOTE. 
          NO. 
          MY MAD I DO THAT. 
          THANK YOU FOR REMINDER. 
          OKAY. 
          UH, THE MOTION APPEAR TO CARRY UNANIMOUSLY, IS THAT CORRECT? YES. 
          OKAY. 
          THANK YOU EVERYONE FOR YOUR PATIENCE TO UNDERSTAND. 
          UH, YES. 
          UM, ILEANA, WILL YOU PULL BACK UP THE PACKET FOR ITEM NUMBER 10? AGENDA ITEM 10. 
          OKAY. 
          IF, UH, IF THE PPLICANT WISHES TO THANK, DO SO TO THIS, UM, THANK THE IS GONNA GO START DESIGNING THINGS. 
          MIKE, THANK AND YOUR, UH, I'M GONNA GO MOVE ON. 
          ITEM NUMBER 10. 
          I'LL READ IT INTO RECORD. 
          ITEM NUMBER 10, REVIEW AND CONSIDER AN EVENT TO THE DOWNTOWN CONNECTION TO DISTRICT INCREMENTAL ALLOCATION POLICY TO CREATE A FIRE STATION. 
          NUMBER 18 SET ASIDE FUND IN THE DOWNTOWN CONNECTION SUBDISTRICT TO FUND THE LOCATION AND CONSTRUCTION OF A NEW CITY OF DALLAS FIRE STATION. 
          NUMBER 18 FACILITY SHOULD BE LOCATED ON THREE PARCELS CURRENTLY ADDRESSED AS 1205 PATON AVENUE, 1212 SAN JACINTO STREET AND 1214 SAN SAN JACINTO STREET, TOTALING APPROXIMATELY 0.967 ACRES. 
          THANK YOU. 
          UM, ON THE SCREEN, I'M SHOWING AN ACTUAL RED LINE OF WHERE I'M PROPOSING TO AMEND THE INCREMENT ALLOCATION POLICY. 
          IF YOU'LL SCROLL TO THE NEXT PAGE. 
          WAIT, WAIT MAYBE UNTIL YOU SEE RED LINES. 
          OKAY. 
          RIGHT THERE. 
          SO, ON PAGE TWO WHERE WE ARE DEFINING, UH, THE PUBLIC, WE ALREADY HAD A SET ASIDE FOR PUBLIC THE PUBLIC SAFETY BUILDING WITHIN 
          [01:35:01]
OUR INCREMENT ALLOCATION POLICY. 
          AND IT WAS FOR 10% OF ANNUAL AVAILABLE FUNDS IN THE DOWNTOWN CONNECTION, UH, SUB-DISTRICT. 
          WHAT I AM PROPOSING IS TO JUST MAKE THE SET ASIDE THE FULL AMOUNT OF THE BUDGET LINE ITEM, WHICH IS AN AMOUNT NOT TO EXCEED 30 MILLION TO SUPPORT THE PROJECT. 
          UM, CURRENTLY WE HAVE NO OBLIGATIONS WITHIN THE TIF DISTRICT. 
          UM, IF A PROJECT IS APPROVED, IT WOULD ENTER THE QUEUE, BUT IT WOULD BE YEARS PRIOR BEFORE THEY WILL BE ELIGIBLE TO BE PAID. 
          AND SO, UM, WHAT I MIGHT, I AM SUGGESTING, OR WHAT I'M PROPOSING IS THAT FROM THE INCREMENT THAT WE ARE CURRENTLY POOLING UNTIL WE HAVE A COMPLETED PROJECT, I'D RATHER SET THAT 30 MILLION ASIDE FOR THE FIRE STATION. 
          AND THAT WAY WHEN IT'S COMPLETED, WE CAN IMMEDIATELY PAY THE DEVELOPER THAT COMPLETED THE PROJECT AND WE'LL HAVE REMAINING FUNDS FOR ADDITIONAL PROJECTS. 
          BILLY, I HAVE NOTHING TO SAY. 
          OH, OKAY. 
          I JUST SAW IT LIGHT UP AND MAYBE I, I'LL I'LL OFFER A CLARIFICATION WHEN THIS ITEM CAME UP BEFORE I WAS CONFLICTED, UM, I'M NOT ANYMORE, SO, UM, OH YEAH, THAT'S, NO, NO. 
          I, I, YEAH, AND I, IT IS, IT DOESN'T APPLY HERE. 
          WE'RE NOT CONSIDERING THE ACTUAL PROJECT. 
          THIS IS A POLICY FOR THE BOARD, AND SO NEITHER YOU NOR NICK ARE CONFLICTED ON THE SITE. 
          OKAY. 
          WELL, I THINK THIS IS A GREAT IDEA. 
          THANK YOU FOR THE CLARIFICATION. 
          UM, ANY MORE DISCUSSION ON ITEM 10? HAVE A MOTION TO APPROVE THE, UH, THE CREATION OF THE FIRE STATION NUMBER 18 SET ASIDE FUND. 
          SO MOVED. 
          I SECOND. 
          I, SECOND, SECOND I'LL, IS THAT NICK? JOHN? THAT'S JOHN PERRY. 
          YEP. 
          JOHN. 
          THANKS, JOHN. 
          JOHN. 
          THANK YOU, JOHN. 
          MOTION SECOND. 
          ANY DISCUSSION? ALL IN FAVOR? THE MOTION SAY AYE. 
          AYE. 
          AYE. 
          ANY OPPOSED? MOTION CARRIED UNANIMOUSLY. 
          THANK YOU. 
          THANK YOU. 
          UM, I KNOW THIS HAS GONE PERHAPS OVER, BUT I HAVE AN ITEM I'D LIKE TO TALK ABOUT BEFORE ADJOURN. 
          SHE LOOKS OVER AT ME NERVOUSLY, WONDERING WHAT IS THIS ITEM? UH, FELLOW BOARD MEMBERS TODAY'S DISCUSSION BROUGHT HOME SOMETHING THAT I HAD SPOKEN TO MS. LEE ABOUT PRIOR TO THE MEETING, WHICH IS THIS, THAT WE, WE GET THESE WITH INCREDIBLE STAFF WORK AND DILIGENCE. 
          WE GET THESE INCREDIBLE PACKAGES, BUT WE GET THEM WEEK BEFORE WE MAKE 90 AND $140 MILLION DECISIONS ON BEHALF OF OUR CITY ON BEHALF OF THIS TIP DISTRICT. 
          AND I AM, I, I WONDER IF ANY BOARD MEMBERS FEEL AS I DO, THAT WE, WE OUGHT TO LOOK FOR A WAY TO HAVE PRE-MEETINGS OR, OR ADVANCED MEETINGS, OR AN APPLICANT THINKS THEY'RE GONNA COME TO US IN SEPTEMBER. 
          THEY, THEY GIVE US A, A, A BRIEFING IN AUGUST OR, OR SOME WAY TO INCREASE THE, THE, THE, THE TIME FOR OUR GRAY MATTER TO CATCH UP WITH THESE INCREDIBLY COMPLEX, INCREDIBLY IMPORTANT DECISIONS. 
          AND I DON'T, I DON'T KNOW THAT I HAVE A SUGGESTION THERE, AND I DON'T KNOW THAT MY FELLOW BOARD MEMBERS FEEL THE SAME WAY. 
          I'M OPENING IT UP FOR BRIEF DISCUSSION AND YOU CAN BRIEF FOR A SHORT TIME. 
          WELL, ON, ON THE SAME, SAME VEIN I'VE, I'VE REQUESTED IN THE PAST TO, UH, YOU KNOW, AFTER WE SEE THAT PROJECTS ARE, ARE POSTED FOR CONSIDERATION BY THE BOARD, I'VE REQUESTED TO, UM, GET A COPY OF THE APPLICATION RATHER THAN JUST, UH, A SUMMARY OF, OF THE, OF THE TERMS PRIOR TO THE MEETINGS. 
          AND, UM, AND, AND TAMARA AND I HAVE TALKED ABOUT THAT BEFORE. 
          I DON'T KNOW HOW WE SORT OF MANAGE CONFIDENTIALITY AND CONFLICTS OF INTEREST IN TERMS OF, UM, ALLOWING THE BOARD MEMBERS TO, TO, YOU KNOW, HAVE ACCESS TO THE SAME LEVEL OF INFORMATION AS, AS CITY STAFF, UM, IN TERMS OF ITEMS THAT ARE EITHER PENDING OR EXPECTED TO BE PENDING BEFORE THE BOARD. 
          BUT, UM, YOU KNOW, I I THINK WE CAN, I THINK WE CAN BE A MORE VALUABLE ASSET TO THE CITY AND TO THE BOARD THE MORE WE'RE ALLOWED TO USE OUR, OUR EXPERIENCE AND OUR KNOWLEDGE TO HELP. 
          UM, LIKE, I DON'T KNOW WHO UNDERWRITES THESE ASSETS, BUT I CAN GUARANTEE YOU THEY DON'T KNOW AS MUCH ABOUT DOWNTOWN DALLAS OFFICE OR RESIDENTIAL OR ADAPTIVE REUSE AS MYSELF AND OTHER MEMBERS OF THE BOARD. 
          UM, YOU KNOW, SO, OR WHAT THE VALUE OF BANK OF AMERICA TOWER IS LIKE, I DON'T KNOW 
          [01:40:01]
WHO DECIDED THAT, BUT THE MOST QUALIFIED INDIVIDUALS ARE, ARE PROBABLY ON THIS BOARD. 
          UM, AND, YOU KNOW, WE WERE PUT HERE TO BE A RESOURCE FOR THE CITY AND, UH, YOU KNOW, WE'RE ALL PASSIONATE ADVOCATES FOR DOWNTOWN AND WE WANNA FIND A WAY TO DO THAT. 
          SO, UH, GETTING US INVOLVED EARLIER, GETTING ACCESS TO MORE INFORMATION ABOUT THE PROJECTS THAT ARE PENDING AND, AND BASICALLY JUST GIVING US AN OPPORTUNITY TO BE MORE PROACTIVE BOARD MEMBERS, I THINK WOULD, WOULD GO A LONG WAY. 
          SO I DON'T, I DON'T KNOW THE BEST WAY TO DO THAT, BUT I CERTAINLY, UM, YOU KNOW, HAVE A SENSE OF URGENCY ABOUT MOVING THIS NEIGHBORHOOD FORWARD AND HAVE A PASSION FOR, FOR, YOU KNOW, WORKING WITH OTHER STAKEHOLDERS TO, TO FIX THIS NEIGHBORHOOD. 
          AND SO ANYTHING THAT WE CAN DO TO, TO SORT OF STEP UP THE GAME FOR, FOR OUR BOARD, I WOULD, I WOULD BE ALL IN FAVOR. 
          THANK YOU BILLY JOHN, COMMENT THERE. 
          OKAY. 
          NO, I, I AGREE WITH BILLY. 
          YEAH. 
          YEAH. 
          OKAY. 
          UH, ANY OTHER BOARD COMMENTS ON THE TOPIC OF MORE KNOWLEDGE, FASTER, SOONER, EARLIER, AND I, I HAVE A, A, A FEW THINGS. 
          UM, FIRST AND FOREMOST, UM, LEGALLY WHEN WE RECEIVE APPLICATIONS, UNTIL THAT APPLICATION HAS BEEN DECIDED UPON BY CITY COUNCIL, IT IS CONSIDERED CONFIDENTIAL. 
          AND SO THAT LIMITS SOME OF THE INFORMATION THAT YOU ARE SPEAKING OF, BILLY. 
          BUT ONE OF OUR VERY FIRST PUBLIC MEETINGS WILL BE URBAN DESIGN, PEER REVIEW PANEL. 
          I CAN DO A BETTER JOB AT THANKING YOU AWARE OF WHEN THERE IS A PARTICULAR PROJECT THAT WILL BE BEFORE THE PEER REVIEW PANEL, WHERE YOU GET TO AT LEAST HEAR, SIT IN. 
          IT WILL BE YOUR FIRST INTRODUCTION, UM, MONTHS PRIOR TO US EVEN PREPARING AN LOI. 
          AND SO YOU WILL HAVE AN INTRODUCTION INTO THE PROJECT, WHAT'S PROPOSED TO BE IN THE PROJECT, AND, UM, ALSO BE PRIVY TO DISCUSSION FOR DESIGN FOR THE PROJECT. 
          TAMARA. 
          TAMARA, WITH ALL DUE RESPECT, I THINK THE NOTION THAT, UM, INFORMATION ABOUT APPLICATIONS THAT OUR BOARD IS BEING ASKED TO, TO WEIGH IN ON IS CONFIDENTIAL AND THE BOARD'S NOT ALLOWED TO SEE WHAT'S IN THE APPLICATION. 
          I, I DON'T KNOW WHAT ATTORNEY MADE THAT DETERMINATION, BUT I, I DISAGREE WITH THEM. 
          WE ARE ALLOWED TO SEE IT. 
          WE JUST DON'T SEE IT UNTIL THE WEEK BEFOREHAND. 
          NO, WE'RE NOT, WE'RE WE'RE NOT ALLOWED TO SEE THE APPLIC. 
          YOU DON'T SEE EVERY COMPONENT. 
          WHAT WE PROVIDE IS A SUMMARY OF THE PROJECT. 
          YEAH. 
          WE, THE MOST IMPORTANT PORTIONS OF IT, WHICH IS THE COST, WHAT WILL BE PROVIDED, AND, UM, DATES. 
          AND THEN WE GIVE YOU STAFF'S RECOMMENDATION BASED UPON THAT. 
          DO YOU SEE THE ACTUAL PHYSICAL APPLICATION NOW? LIKE WHY DOES STAFF HAVE A HIGHER SECURITY CLEARANCE IN THE BOARD? BECAUSE WE ARE THE ONES REVIEWING AND ULTIMATELY MAKING RECOMMENDATION FOR ASSISTANCE FOR PROJECTS. 
          AREN'T WE ALSO TASKED WITH THAT AS WELL? YOU ARE TASKED AS AN ADVISORY BOARD TO CITY COUNCIL. 
          YES. 
          MORE DISCUSSION ON THIS, ON THIS IDEA FROM ANY OTHER BOARD MEMBERS. 
          I, I HAVE A THOUGHT TOO, BUT I'LL HOLD IT. 
          NICK. 
          LOUISE. 
          JOHN. 
          OKAY. 
          BEFORE THE MEETING STARTED, I WAS TALKING TO CAMERON ABOUT THIS EXACT TOPIC AND, AND I, I WOULD LIKE TO FIND A WAY TO KNOW MORE, UH, MAYBE I'LL HOLD OUT AS MY STANDARD. 
          I WANT TO KNOW AT LEAST HALF AS MUCH AS EVAN SHEETS AND DOUG BRO KNOW, UH, WHENEVER WE COME INTO ONE OF THESE MEETINGS, AND THAT'S A TALL ORDER BECAUSE THEY KNOW A LOT. 
          I'M BEING PARTIALLY FACETIOUS, BUT PARTIALLY NOT. 
          I DON'T HAVE IT IN FRONT OF ME. 
          BUT WE, WE HAVE A GUIDING DOCUMENT OF SOME SORT WITH THE NAME OF THAT DOCUMENT. 
          IT IS OUR TIP DISTRICT PLAN, AH, OUR 10TH DISTRICT PLAN. 
          I'M PRETTY SURE YOU CORRECT ME IF I'M WRONG, THAT THERE'S LANGUAGE IN THERE THAT TALKS ABOUT NOT JUST OUR ROLE IN DOLLARS AND CENTS, BUT OUR ROLE IN STEWARDSHIP OF THE BUILT ENVIRONMENT THAT WOULD ACT WELL, YES, IT DOES. 
          OKAY. 
          AND SO, SO PART OF MY COMMENTARY TODAY WAS NOT ABOUT DOLLARS AND CENTS, IT WAS ABOUT OUR, WHAT I WOULD CALL FROM OUR PLAN ABOUT OUR ROLE IN STEWARDSHIP OF THE BUILT ENVIRONMENT. 
          AND I THINK THAT THIS PROJECT OR WHATEVER, ITS MERITOR COULD HAVE HAD MORE AND BETTER STEWARDSHIP OF THE BUILT ENVIRONMENT. 
          AND, AND FOR THAT OTHER REASONS I'D LIKE TO KNOW MORE SOONER. 
          MS. LEE SAID SOMETHING FUNNY MOMENT AGO. 
          SHE SAID, I COULD DO A BETTER JOB. 
          THERE'S NOTHING ABOUT THIS LINE OF DISCUSSION THAT INDICATES ANYTHING ABOUT THE INCREDIBLE JOB THAT MS. LEE DOES, UH, WHICH I, I VALUE SO HIGHLY. 
          UM, AND YET I DO WONDER IF, IF THIS BOARD COULD, COULD, 
          [01:45:01]
WITH RESPECT, PUT ONE MORE THING ON YOUR PLATE TO THINK ABOUT WAYS THAT WE CAN KNOW MORE SOONER AND, AND EITHER CONNECT THOSE YOU DON'T NEED OUR APPROVAL TO DO SO, OR TO BRING BACK A DISCUSSION TOPIC AT OUR NEXT MEETING OF OTHER WAYS THAT WE CAN KNOW MORE SOONER. 
          AND DO, AS BILLY SAID, YOU KNOW, DO OUR JOB, UH, BETTER BE, BE AN ASSET TO THE CITY. 
          SO I I, I WOULD ASK NESTLE TO CONSIDER THAT SURE. 
          AND TO COME BACK TO US WITH THOUGHTS AND OR TO JUST SIMPLY ENACT NO BRAINER POLICIES AND PROCEDURES ON OUR BEHALF IN THIS REGARD. 
          NO PROBLEM. 
          THANK YOU. 
          OKAY. 
          ANY OTHER COMMENTS? DISCUSSION, OTHER ITEMS? HEARING NONE. 
          THANK YOU FOR, FOR GOING OVER ON, ON OUR PROJECTED TIME TODAY. 
          UH, ITEM, UH, CALLING THE ADJOURN. 
          ADJOURN. 
          THANK YOU. 
          FOUR PAUL, CHAIRMAN OF THE, UH, DISTRICT, UH, AND BOARD MEETING AT  AT 3:54 PM ON SEPTEMBER 30TH. 
          THANK YOU. 
          THANK EVERYBODY. 
          GOOD MEETING. 
          THANK.
* 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.