* 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. SOME OF IT, I DID [00:00:01] LIKE ONE OF THE DEMO. GOOD [Dallas Housing Finance Corporation on September 9, 2025.] AFTERNOON EVERYONE. I'D LIKE TO WELCOME YOU TO THE, UH, REGULAR, UH, MEETING OF DALLAS THOUSAND FINANCE CORPORATION. IT'S TUESDAY, SEPTEMBER 9TH, 2025. THE TIME IS 12 NOON. UM, CALLED MEETING TO ORDER. BEFORE I TURN THE MEETING OVER TO, UH, JACQUELINE SCHROEDER TO CALL THE ROLE AS AN ADMINISTRATIVE ITEM. I WANTED TO ALERT EVERYONE THAT WE WILL NOT BE, UM, UH, DISCUSSING AGENDA ITEM NUMBER 12 TODAY. SO IF ANYBODY'S HERE FOR REVIEWING DISCUSSION OF THE GATEWAY, TRINITY FOUR, BE DEFERRED TO ANOTHER MEETING. UM, WELCOME TO SPEAK OUT THIS MEETING IF YOU WANTED TO VIA COMMENTS, BUT, UH, WE'RE NOT GONNA BE DISCUSSING THAT TODAY. UM, WITH THAT, I'LL TURN IT OVER TO, UH, JACKIE. CALL. OKAY, TONY, UM, CAN I STATE YOUR NAME PLEASE? LET ME KNOW IF YOU ARE PRESENT. UH, DIRECTOR SEAN ALLEN. I AM PRESENT. DIRECTOR BI NABI. DIRECTOR SHARA SHALANDA. OLA. PRESENT DIRECTOR JACK MARCY. PRESENT. PLEASURE. TATIANA FARROW. SORRY. PRESENT. PRESENT. THANK YOU. DIRECTOR PATTY COLLINS. UH, DIRECTOR KEVIN HINTON, TOO. HEY, LOOKS LIKE YEAH, WE CAN GO BACK TO, ALL RIGHT. VICE PRESIDENT RYAN GARCIA. PRESENT DIRECTOR DAVID ELLIS. PRESENT. PRESIDENT MARCY HELPIN. PRESENT DIRECTOR OLIVER ROBINSON. PRESENT. DIRECTOR RYAN WARREN. SECRETARY TONY. PAGE PRESENT AND DIRECTOR? SEAN. TY. OKAY. SEAN SAYS . OKAY. GREAT. AND THEN PATTY, I SEE THAT YOU'RE ON, CAN YOU VERIFY THROUGH PRESENT? YES, I'M HERE. HI. THANKS PATTY. AND THEN, UH, DIRECTOR KEVIN HENSON. ARE YOU BACK? YOU'RE MUTED, BUT I SEE YOU, DIRECTOR HENON, CAN YOU CONFIRM YOUR HEARING AUDIO PRESENT? THANK YOU, KEVIN. OKAY. WITH THAT, WE DO HAVE A COURT. OKAY. UH, CONFIRM WE HAVE A QUORUM PRESENT. WE'RE GONNA MOVE ON TO, UH, AGENDA ITEM NUMBER THREE, WHICH IS PUBLIC COMMENTS ON ITEMS FOUR TO 15. AND AGAIN, AS A REMINDER, AGENDA ITEM NUMBER 12 WILL NOT BE, UM, UH, WE WON'T, WE'LL BE DISCUSSING THAT DURING THE REGULAR MEETING TODAY, BUT YOU'RE FREE TO COMMENT ON IT IF YOU WANT. SO, UH, ANY PUBLIC COMMENTS? OKAY. VERY NO PUBLIC COMMENTS. WE'LL MOVE ON TO, UH, AGENDA ITEM NUMBER FOUR, WHICH IS APPROVAL OF THE MINUTES FOR THE AUGUST 12TH, 2025. CITY OF DALLAS HOUSING FINANCE CORPORATION MEETING, UH, PANEL. ENTERTAIN A MOTION, UH, TO APPROVE THE, DO I HAVE A MOTION APPROVE WRITTEN? SECOND, DO YOU HAVE A MOTION AND A SECOND? IS THERE ANY DISCUSSION ON THE MINUTES? ANY, UM, EDITS, COMMENTS? MARCY, ANYTHING FROM YOU? NO. NO. OKAY. UM, ALL RIGHT. THAT WE'LL TAKE A, UH, VOICE VOTE. ALL IN FAVOR OF APPROVING THE, UH, AUGUST 12TH, UH, 20, 25 MINUTES. SAY AYE. AYE. AYE. AYE. UH, AYE. HAVE IT, UH, THE AGENDA ITEM VARIES. WE'LL NOW MOVE ON TO ITEM NUMBER FIVE, WHICH IS OUT HERE. ITEM NUMBER FIVES AN ACTION. ITEM TWO, CONSIDER AND APPROVE THE EMPLOYMENT OF OFFICERS OF THE BOARD OF DIRECTORS AND CORPORATION. UM, WE HAVE, UH, UH, TWO OF THE, UH, DIRECTORS, UM, PRESIDENT MARCY AND VICE PRESIDENT RYAN GARCIA, UM, ARE ATTORNEY NOW, UH, SHIRLEY, PURSUANT TO THE, UH, I THINK THE CHARTER AMENDMENT AND ALSO BYLAWS SERVE MAXIMUM FOUR TERMS, UH, FOR TWO YEAR TERMS, UM, PER, YEAH, PER ARTICLE SEVEN OF THE CORPORATIONS. AMEN. RESTATED CERTIFICATE FORMATION. A [00:05:01] DIRECTOR MAY SERVE A TWO YEAR TERM AND NOT MORE THAN FOUR CONSECUTIVE TWO YEAR TERMS IN ACCORDANCE TO DALLAS CITY CODE SECTION EIGHT DASH 1.5, PRESIDENT HEIN AND VICE PRESIDENT GARCIA HAVE REACHED TERM LIMITS, MIS DESCRIBED ABOVE. ADDITIONALLY, THE AMENDED AND RESTATED BYLAWS OF THE CORPORATION. SECTION 3.1, PROVIDED THAT OFFICERS SHALL SERVE TWO YOUR TERMS, PROVIDED THAT AN OFFICER MAY BE REELECTED, ALL OFFICERS MUST BE A MEMBER OF THE BOARD OF DIRECTORS. THE BYLAWS PROVIDE AT A MINIMUM FOR A PRESIDENT, VICE PRESIDENT, SECRETARY, AND TREASURER CORPORATION IS DUE TO ELECT OFFICERS PER THE BYLAWS. WE'LL NOMINATE AND DISCUSS EACH APPOINTMENT ONE AT A TIME, AND THEN VOTE TO APPROVE THE APPOINTMENTS WILL BE EFFECTIVE AS OF OCTOBER 1ST, 2025. UM, AND WITH RESPECT TO THE VOTE, WE'LL BE DOING A, UM, VOICE VOTE, UM, WITH RESPECT TO EACH ITEM. BUT IF ANYBODY, UH, WANTS A RECORD VOTE, HAPPY TO DO THAT. AS WE, AS WE GO THROUGH THE, UH, INDIVIDUAL POSITIONS AT THIS TIME, I OPEN THE FLOOR FOR NOMINATIONS FOR THE OFFICE OF PRESIDENT, AND ASHA SHOULD NOTE THAT MOTIONS FOR, UH, PUTTING SOMEBODY UP AND SAID, OFFICER, DO NOT REQUIRE A SECOND. SO I'LL JUST FOR ONE OF THESE TO ENTERTAIN A MOTION AND THEN ROLL UP, PUT IT THE FLOOR FOR DISCUSSION. DO I HAVE A NOMINATION FOR THE OFFICE OF PRESIDENT? PRESIDENT? YES. VICE NOMINATE FOR TRAVIS PRESIDENT. OKAY. HAVE A NOMINATION FOR DIRECTOR S AS PRESIDENT. ARE THERE ANY OTHER NOMINATIONS FOR THE POSITION OF PRESIDENT? OKAY. WITH THAT, I WILL, UH, OPEN IT TO, UH, DISCUSSION. IS THERE ANY DISCUSSION, UH, DAVID, IT'D BE GREAT DOING THE JOB. HAPPY, SIR, IF EVERYONE SEES ME AS, UH, THE TEAM OF THE JOB, , I THINK YOU WOULD BE OUTSTANDING. UH, ANY, ANY FURTHER DISCUSSION. OKAY. THAT ALL IN FAVOR OF, UM, PUTTING DIRECTOR ELLIS TO THE, UH, POSITION OF PRESIDENT OF THE, UH, HFC? SAY, AYE. AYE. AYE. OPPOSED SAY NAY. I JUST HAVE IT. THANK YOU EVERYBODY, SIR, I APPRECIATE YOU GOT SOME BIG SHOES TO, UH, PHIL, DAVID? YEAH, NO, I'M . I JUST THANK YOU. THANK YOU, DIRECTOR ROBINSON . YEAH, I WANTED TO SAY WE'LL, WE'LL MISS YOU. I, THIS IS MAYBE OFF TOPIC, BUT, UH, LOOK, MARCY, UH, THE LEADERSHIP THAT MARCY HAS DEMONSTRATED OVER THE LAST FIVE YEARS SINCE I'VE BEEN ON, I THINK LONGER THAN THAT HAS BEEN SPECTACULAR. ABSOLUTELY. AND I THINK, YOU KNOW, WE WENT FROM A VERY DORMANT ORGANIZATION, UH, I THINK FROM FIVE, SIX YEARS AGO, AND NOW ONE OF THE MOST ACTIVE AGENCIES, AND I THINK I RESPECTED AGENCIES IN THE STATE OF TEXAS. THIS IS A, A LOT HAS BEEN DOING PART TO THE EXCELLENT LEADERSHIP THAT MARCY PROVIDED DURING VERY DIFFICULT AND SOMETIMES CONTROVERSIAL TIMES FOR AFFORDABLE HOUSING IN THE STATE. AND SHE HAS ACTUALLY PROVIDED GREAT LEADERSHIP IN OUR RELATIONSHIP WITH THE CITY AS WELL. UH, THERE IS NO REPLACING HER WHATSOEVER. UM, YOU CAN ONLY SUCCEED HER. UM, BUT I JUST CONSIDER HER A, UH, YOU KNOW, TALENTED PERSON AND A GOOD FRIEND. SO JUST WANNA HAVE THAT OUT THERE AND SAY, I ALSO LIKE TO SAY, UM, THANK YOU. THANK YOU. AND, UM, AND, UH, INCOMING PRESIDENT ELLIS, I HAVE FULL FAITH IN, IN YOUR ABILITIES, SO I THINK YOU'LL CONTINUE ON THIS PATH. THANK YOU. AND I TOO WOULD LIKE TO SAY THANK YOU. HEALTH AND I, I AGREE WITH EVERYTHING THAT DIRECTOR ELLIS, UM, SAID. I THINK EITHER THE HFC HAS A, UM, AN OUTSTANDING REPUTATION WITHIN THE, UM, MOST, YOU KNOW, CITY COUNCIL. AND I THINK, UM, THAT'S IN LARGE PART DUTY, YOUR KIND OF STEADY HAND AND, AND GREAT LEADERSHIP, YOUR ABILITY TO, UM, BE STRONG AND FIRM WITHOUT BEING, UH, CONTENTIOUS. AND, AND IT'S A, UM, YOU WALK A FINE LINE OF DOING IT, BUT YOU'VE DONE IT, DONE IT ACCIDENTALLY. SO I'D TOO LIKE TO SAY THANK YOU ON BEHALF OF THE, UH, THE ENTIRE BOARD. UM, THANK YOU. WITH THAT, I'M GOING TO OPEN A FLOOR FOR NOMINATIONS FOR THE OFFICE OF VICE PRESIDENT, AND AT THIS TIME, I'M, I WOULD LIKE TO DOMINATE, UM, DIRECTOR SEAN ALLEN WITH THE, UH, OFFICE OF VICE PRESIDENT THAT, UM, ARE THERE ANY OTHER NOMINATIONS FOR THE OFFICE OF VICE PRESIDENT THERE? ANY, UH, ANY DISCUSSION? I THINK HE WOULD DO AN OUTSTANDING JOB. I THINK SEAN HAS PROVIDED LEADERSHIP, UH, GREAT LEADERSHIP ON BOARD. UM, I THINK HE HAS GREAT OPINIONS. I THINK HE'S POLITICALLY ASTUTE, AND I THINK HE, [00:10:01] UH, YEAH, THINK HE DO A GREAT JOB. UM, I DO, AND THIS IS REASON I'M NOMINATED. I THINK, UM, DIRECTOR ALLEN HAS DONE AN OUTSTANDING JOB ON HIS BOARD. HE'S A, UH, UM, MODEL, UH, YOU KNOW, CIVIC PUBLIC SERVANT. UH, HE'S GOT A FULL-TIME JOB, BUT HE, UH, DEVOTES A LOT OF TIME TO THIS. AND, UM, NOT ONLY DOES HE DEVOTE TIME, BUT I THINK HE'S VERY, UH, VERY WISE, HE A, UH, GOOD PERSPECTIVE TO THINGS. AND I FREQUENTLY, IF I SEE IN A MEETING THAT DIRECTOR ALLEN BRINGS SOMETHING UP AND ISSUE OR CONCERN THAT I HAVE PREVIOUSLY NOTED, I'M LIKE, ALL OF SUDDEN I START PAYING ATTENTION. SO, UM, YEAH. I, I APPRECIATE YOUR, UH, SERVICE WILL BE LINE TO HAVE YOU AS VICE PRESIDENT. ANY OTHER DISCUSSION WITH THAT? UM, ALL IN FAVOR OF, UM, UH, CONFIRMING, UH, DIRECTOR SEAN ALLEN TO THE, UM, POSITION OF VICE PRESIDENT, SAY, AYE. A ALL OPPOSED, NEXT. AYE. AYE. AT THIS TIME, UM, I'LL OPEN THE FLOOR FOR NOMINATIONS FOR THE OFFICE OF SECRETARY. UH, NO, YOU DO IT AGAIN. OKAY. ANY OTHER NOMINATION FOR THE, UH, UH, POSITION OF SECRETARY HEARING GUN? ANY DISCUSSION ON THE POSITION OF SECRETARY? NOTHING GOOD. MARK. OKAY. YEAH. ALL RIGHT. YOU'RE AWESOME, TONY. ALRIGHT, THANKS. I'M GREATEST CUTTING DOCUMENTS IN A DOCUSIGN. I CAN SAY THAT. UM, ALL RIGHT. UM, THAT ALL IN ALL IN FAVOR OF CONFIRMING, UH, SECRETARY PAGE OR ANOTHER, UH, TO YOUR RETURN. SO I GONNA SAY AYE AYE. AYE. NA. OKAY. UH, AYE. HAVE IT AT THIS TIME, I OPEN THE FLOOR FOR NOMINATIONS FOR THE OFFICE OF TREASURER. I'D LIKE TO NOMINATE, UH, DIRECTOR JACK MARSHALL SEAT. OKAY. HAVE A NOM HAVE JACK MARSHALL SEAT, UH, NOMINATION THERE. ANY OTHER, UH, CANDIDATES, UH, IN NOMINATIONS FOR THE, UH, OFFICE OF TREASURER? OKAY. HEARING NONE. UH, UM, OH, YES, GO AHEAD. I, I, I WAS WONDERING IF, IF DIRECTOR PHARAOH IS WILLING TO SERVE ANOTHER TERM, I'M WILLING TO SERVE ANOTHER TERM, WELL, THEN I WOULD NOMINATE DIRECTOR PHARAOH. OKAY. OKAY. WE HAVE, UM, DIRECTOR MARSHALL C AND DIRECTOR PHARAOH. ARE THERE ANY OTHER NOMINATIONS FOR THE POSITION OF, UM, TREASURER? UM, IF I GIVE GUIDANCE, HOW DO I, HERE WE'VE GOT TWO, TWO CANS. WE TAKE ONE BY ONE, OR IS IT LIKE, UH, IS THIS JUST LIKE WE'RE VOTING FOR, UM, LIKE PRESIDENT OR SOMETHING LIKE MAJORITY VOTE. YOU WANNA HAVE ANY GUIDANCE? ALRIGHT. PARDON HERE? UM, SURE. I, I THINK THAT IN THE PAST WE'VE HAD, UM, EACH NOMINEE KINDA, UM, TELL US A LITTLE BIT ABOUT THEMSELVES AND, UH, AND THEN, UM, AND THEN I THINK, YEAH, THEN WE'VE JUST TAKEN A VOTE ON EACH POSITION, ON EACH NOMINEE, SORRY. OKAY. UM, GREAT. SINCE, UH, SINCE , UH, REPAIR WAS THE INCUMBENT, I WILL SEND HER THE COURTESY OF ALLOWING HER TO GO FIRST. UM, , WOULD YOU LIKE TO? SURE. I AM CURRENTLY A VP OF FINANCE FOR A COMPANY IN WEST DALLAS, AND I'VE BEEN SERVING ON THE BOARD FOR ABOUT FIVE YEARS NOW. I WOULDN'T SAY I SPECIALIZE IN REVIEWING PRO FORMAS, BUT THAT'S PART OF WHAT I LIKE ABOUT BEING ON THE BOARD SO MUCH. UM, I ALSO LIKE SUPPORTING, UM, THE MANAGER, UH, FOR WHEN HE HAS NEEDS WITH THE BANK. HOWEVER, UH, IF SOMEBODY ELSE WANTS A TURN, LIKE I'M NOT AGAINST STEPPING DOWN SO THAT THEY CAN HAVE THEIR TURN, BUT I'M CERTAINLY HAPPY TO CONTINUE SERVING AS TREASURER. OKAY. UM, THANK YOU. ANY, ANY QUESTIONS FOR TREASURER PHARAOH? OKAY. UH, DIRECTOR MARSHALL SCENE, WOULD YOU LIKE TO, UH, SPEAK? SURE. UM, I, UH, I REPRESENT DISTRICT FIVE. UM, I, UM, HAVE BEEN EMPLOYED WITH METLIFE'S REAL ESTATE GROUP, WHICH INVESTS BOTH, UH, IN [00:15:01] AFFORDABLE LIVE TECH AND MARKET RATE, UM, HOUSING, AS WELL AS A SORT OF OTHER COMMERCIAL REAL ESTATE ASSETS. UH, I RECENTLY JOINED, I LEFT METLIFE IN JUNE, JOINED A SMALLER FAMILY OFFICE, UH, PRIVATE EQUITY GROUP HERE IN DALLAS. UH, SO I'M PRETTY NEW, UH, TO THAT ROLE. BUT, UM, YEAH, MY DAY TO DAY IS CERTAINLY, UH, CAPITAL MARKETS FINANCIAL UNDERWRITING. UM, THIS NEW FIRM IS A, A FOUR MAN SHOP, SO, UH, ALL KINDS OF FORM TO THE CO THERE IS ENTITLED THERE, BUT, UM, IT'S REALLY NOT FORMALIZED. UM, THIS WOULD BE MY, UH, GOING ON THIRD YEAR, UH, SERVING, UH, WITH AGENCY. SO, UM, CERTAINLY THANK YOU, TIANA, TONY, MARCY, AND RYAN FOR, UM, WHERE WE ARE AT THIS POINT, AND, AND AARON TOO. SO, UM, THANKS FOR NOMINATION AND CONSIDERATION. OKAY. THANK YOU. UM, WITH THAT, I THINK WE'LL TAKE A, UM, A VOTE AND WE'LL JUST, UH, DO, UH, TREASURER PHARAOH FIRST, AND THEN EVERY, ANYBODY WANTS TO VOTE FOR HER SHOULD, UM, SIGNIFY THEN. AND THEN WE WILL, UM, UM, ENTERTAIN VOTES FOR DIRECTOR, UH, MARSHALL SLATE. UM, JACKIE, CAN YOU, UH, ASSIST ME WITH THAT? OKAY. UM, ALL IN FAVOR OF, UM, HOW DO YOU WANNA DO THIS? SHOULD WE, YOU WANNA DO ROLL CALL? YEAH, I WAS GONNA DO, MAYBE YOU CAN JUST GO ONE BY ONE AND JUST HAVE IT SAY, OR MARSHALL SAY, SOUNDS LIKE A PLAN. OKAY. OKAY. GO AHEAD, DIRECTOR. SEAN ALLEN. UH, DIRECTOR MARSHALL. C UM, DIRECTOR OLA MARSH, DIRECTOR MARSH C UM, MYSELF. WHERE'S AVID? UH, DIRECTOR FAROH. IS THAT WEIRD TO VOTE FOR MYSELF? I GUESS I, I DUNNO. NOT FOR YOU. , UH, DIRECTOR, PATTY COLLINS. UM, TATIANA FAROH, DIRECTOR KEVIN HINTON. UM, DIRECTOR, PHARAOH DIRECTOR, OR EXCUSE ME, VICE PRESIDENT BRIAN GARCIA. UH, DIRECTOR MARSHALL C DIRECTOR DAVID ELLIS. UH, DIRECTOR MAR MARSHALL. C PRESIDENT MARCY HELTON. DR. PHARAOH, DIRECTOR ROBINSON. UH, DR. SPARROW, DIRECTOR MOORE, DIRECTOR MARSHALL SEAT, UH, SECRETARY PAGE, UH, EPSTEIN AND DIRECTOR, SADIE DIRECTOR MARSHALL SEAT ALL THE TIME. OKAY. ? YEAH. 7, 5, 7. ALL RIGHT. SO WE HAVE SEVEN, UM, TO FIVE IN FAVOR OF DIRECTOR PARTIAL SEAT. CONGRATULATIONS. YES. AND AS I'M LOOKING AT THIS, JUST, UM, AND I APOLOGIZE, I SAW THE NOMINATIONS DO NOT REQUIRE A SECOND, BUT THE, UH, PROCEED TO A VOTE DOES REQUIRE A MOTION AND A SECOND. SO JUST TO, UH, BEAR WITH ME AS I WANT, GO THROUGH THIS ONE LAST TIME, MAKE SURE WE GET THIS, UH, GET THIS RIGHT AND DO IT, UM, CORRECTLY. WE'RE GONNA DO IF BY VOTE, VOICE VOTE. SO IT'S GONNA BE VERY FAST, BUT, UH, SO I NEED A MOTION AND A SECOND TO APPOINT DIRECTOR ALICE TO THE POSITION OF PRESIDENT. SO I GO MOTION A SECOND. OKAY. WE THE SLATE. UH, CAN WE DO IT IN TOTAL OR DO WE HAVE, DO EACH ONE, ONE BY ONE. YEP. DO YOU HAVE ANY GUIDANCE ON A, UH, PARLIAMENTARIAN? I JUST DO IT ALL. IT'S A SITE. OKAY. ALL RIGHT. SO WE'RE GONNA VOTE TO APPROVE NOMINEES, UH, POSITIONS OF, UH, PRESIDENT, GOING TO BE, UH, UM, DAVID ELLIS, VICE PRESIDENT, SEAN ALLEN, UM, SECRETARY ANTHONY PAGE, AND, UM, TREASURER, UH, JACK, UH, MARSHALL C UM, I'LL, UH, DO I HAVE A MOTION AND A SECOND FOR THAT SLATE MOTION. OKAY. AND A SECOND. SECOND. OKAY. [00:20:02] ALL IN FAVOR OF THIS SLATE. AS, UM, OPPOSED FOR THOSE POSITIONS, SAY AYE. AYE. ALL OPPOSED, NA AYE. OKAY, AYES HAVE IT WITH THAT, MOVE ON TO I MON AGENDA ITEM ON THE AGENDA. UH, AGENDA ITEM NUMBER SIX, ACTION ITEM. CONSIDER AND ADOPT AN INDUCEMENT RESOLUTION, DECLARING INTENT TO ISSUE BONDS, AN AGGREGATE PRINCIPLE AMOUNT NOT TO EXCEED $37 MILLION FOR A LOAN TO ECG BELT LINE LP. PROVIDE FINANCING FOR A MULTIFAMILY RESIDENTIAL RENTAL DEVELOPMENT FOR PERSONS OF LOW AND MODERATE INCOME TO BE KNOWN AS BELTLINE FLAPS, AND TO BE LOCATED AT 1275 SOUTH BELTLINE ROAD, DALLAS, TEXAS 7 5 2 5 3, AUTHORIZING THE FILING OF AN APPLICATION FOR ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD, AND CONTAINING OTHER RELATED PROVISIONS THAT I'LL TURN IT OVER TO GENERAL MANAGER QUINTO. UH, MR. QUINTO, GO AHEAD. YEAH, WE'VE INVITED THE DEVELOPER HERE TO GIVE A TALK PRESENTATION FOR THIS BOND INDUCEMENT. SO, JUST AS A GENERAL JUST ANNOUNCEMENT, SO EVERY YEAR WE DO BOND INDUCEMENTS AS A, AS A BOARD. AND SO THIS IS KIND OF THE FIRST CRACK AT ALLOWING THESE DEVELOPERS TO ADVANCE THEIR PROPERTY APPLICATIONS ONTO THE STATE. AND SO FIRST STEP IS GETTING A, AN INDUCEMENT FROM THE LOCAL HSC. SO AT THIS POINT, THE, THE DEALS ARE USUALLY NOT FULLY BAKED. WE DON'T HAVE AN MOU SET UP WITH US, WE DON'T HAVE ALL THE DEAL TERMS SET OUT REALLY. THEY'LL JUST HAVE, YOU KNOW, A LOCATION, THE UNIT COUNTS AND AFFORDABILITY, THE GENERAL CONCEPT OF, OF WHAT THE ARCHITECTURE'S GONNA LIKE. AND SO THEY'LL TAKE THIS TO THE STATE IN OCTOBER, THEY'LL APPLY TO GIVE TO THE LOTTERY, AND THEN IN NOVEMBER THEY'LL HAVE THE LOTTERY STARTING IN JANUARY. THOSE ALLOCATIONS WILL START THE, UH, DELTA OUT. AND USUALLY AT THAT TIME WE'LL COME BACK WITH AN MLU IF THEY CAN MAKE IT THAT FAR. BUT, UH, SO AGAIN, IF YOU VOTE YES TODAY AND YOU'RE NOT SURE ABOUT SOMETHING, WE WILL HAVE ANOTHER CRACK AT THIS. UM, SO REALLY IT'S, YOU KNOW, DO YOU THINK THIS PROJECT COULD BE WORTHWHILE? UH, SO THANK YOU. WITH THAT, I WANNA INTRODUCE, UH, DON . I'VE KNOWN HIM FOR SEVERAL YEARS AND HE'S FINALLY TRUSTED US ENOUGH TO TAKE A STICK WITH HIS SALES IN DALLAS. UH, SO I'LL LEAVE TO YOU TO, TO PRESENT THIS PROJECT. PERFECT. THANK YOU. UH, GOOD AFTERNOON FOR, IT'S A PLEASURE TO BE HERE. DARREN'S POINT, BE BACK 2021. I TOLD ONE DAY I'LL BE HERE IN DALLAS. HERE I AM 24 YEARS LATER, SO I DON'T KNOW, ALL THE SLIDES SUPPOSED TO BELL BE UP, SO, UH, PULL UP THE PRESENTATION FOR, I JUST, IS IT NOT LOADING? I'LL, I'LL TRY TO, [00:25:36] I AM TRYING TO DO IT AS A PDF INSTEAD. SOPHIA, IS YOURS NOT SHARING IT EITHER. OKAY. UH, I THINK I ADD IT. YEAH, IT'S SHOWING UP. THERE WE GO. I GOT IT. OH, YOU GOT IT. HEY, SORRY ABOUT THAT. SORRY. UM, NO PROBLEM AT ALL. SO AGAIN, GOOD AFTERNOON BOARD, UH, DON EL MCKEE. I'M THE DEVELOPMENT DIRECTOR OF MING CAPITAL. UH, INGSTON IS A US NEXT ONE, SORRY. UM, INGSTON IS A REAL ESTATE VER VERTICALLY INTEGRATED REAL ESTATE DEVELOPMENT SHOP BASED OUT OF NASHVILLE, TENNESSEE. UH, OUR DIFFERENT VERTICALS ARE CONSTRUCTION, UM, ASSET AND PROPERTY MANAGEMENT ALONG WITH DEVELOPMENT. AND ON THE DEVELOPMENT SIDE, WE ESSENTIALLY DO EVERYDAY HOUSING, UM, MULTIFAMILY, SINGLE FAMILY, UM, BUT I, OF COURSE WORK VERTICAL AFFORDABLE GROUP, UH, WHO FOCUSES ON WELCOME HOUSING TAX CREDIT PROGRAM, UM, WHICH IS WHAT WE'RE HERE TO TALK ABOUT TODAY, WHICH IS, UH, SOUTH BELT LINE, UM, BELT LINE FLASH DEVELOPMENT, UH, DEVELOPMENT SHOP. WE HAVE DEVELOPED OVER THE PAST 12 TO 12 TO 15 YEARS. UH, JUST OVER ABOUT 10,000 UNITS. GOT ABOUT 2,500 UNITS RIGHT NOW. CURRENTLY PIPELINE, WE SHOULD PROBABLY REACH ABOUT 15,000 UNITS BY END OF 26, 20 27. UM, WHAT YOU'LL SEE BEFORE YOU ON THIS SLIDE IS OUR, UH, FOOTPRINT, UH, FROM A DEVELOPMENT STANDPOINT, AGAIN, WE'RE BASICALLY NASHVILLE. I HERE, I LIVE IN HOUSTON, TEXAS, SO I FOCUS ON TEXAS MARKETS. UM, WE ARE ALL THROUGHOUT THE SOUTHEAST, WE'VE GONE NORTH TO OHIO AND YOUR EYES ARE NOT FOOLING YOU. YES, WE DO HAVE DEVELOPMENT THAT CAME OUT THE GROUND, SOUTH DAKOTA, UH, THAT WE CLOSED ABOUT A YEAR AGO. SO, UM, YOU KNOW, WE WE'RE VERY ACTIVE. AND AGAIN, IN TEXAS WE FALL 2000 THROUGH THIS. MOST OF THOSE ARE AROUND TRAVIS COUNTY. UM, ALSO AREA THAT I'M TALKING ABOUT, SOME OF THE THINGS WE , UM, OR OPPORTUNITIES HERE IN DALLAS. UH, SLIDE. THANKS. WELL, THIS SLIDE HERE IS SHOWING JUST, JUST BIT OF AN EXAMPLE OF WHAT OUR EXTERIORS AND WHAT OUR FINISHES LOOK LIKE. UM, ULTIMATELY WE LIKE TO BE PARTNERS WITHIN THE COMMITTEE, SO WE DON'T WANT TO COME IN AND JUST DROP ANYTHING ANYWHERE. THOSE FOR WHO WE WANT TO MAKE SURE FROM THE DEVELOPMENT AND FROM AN AESTHETIC STANDPOINT. UM, IT'S SOMETHING THAT EVERYONE CAN BE PROUD OF, UH, OURSELVES, PARTNERS, MOST IMPORTANTLY, RESIDENTS WHO ARE CALL OUR DEVELOPMENT. I WE GOING TO . UM, AND THIS IS JUST AGAIN, EXAMPLE OF SOME OF OUR INTERIOR FINISHES. UH, WE'VE GOT A COUPLE PHOTOS HERE OF SOME UNIT FINISHES. UM, WE'VE GOT SOME OF OUR SPACES AND ALSO SOME OF OUR LEASING OFFICE AREAS, SPACES, UH, AGAIN, JUST TRYING TO MAKE SURE WE BUY SOMETHING THAT, UM, EVERYONE WILL BE PROUD OF. CALL IT HOME. NEXT, NEXT SLIDE. UM, SO MONT FLATS, UM, AND THIS ADDRESS MAY BE FAMILIAR TO SOME OF THE BOARD MEMBERS AS THIS, AS THIS PROJECT ABOUT THIS SITE, ABOUT A YEAR AGO, I BELIEVE HAD BEEN REDUCED, UM, IN 1275 SOUTH LINE ROAD DOWN IN DISTRICT EIGHT. UM, WE'RE PROPOSING 164 UNIT NEW CONSTRUCTION, UM, DEVELOPMENT, UM, ACROSS ABOUT 10 AND A HALF ACRES. AND WE'RE LOOKING TO GO TO 4% PROGRAM. UM, WE'RE DOING INCOME AVERAGING, SO A MIX OF 50, 60% TO 70% A MI, UH, UNITS AS WELL. UM, YOU'LL FIND ON OUR UNIT MIX THAT, UM, WE HAVE A LOT OF MULTI UNITS AS WELL, TRYING TO MAKE SURE WE PROVIDE OPPORTUNITIES FOR THAT MULTI-GENERATIONAL HOUSING, UM, SO THE PEOPLE IN THE COMMUNITY CAN GROW THEIR FAMILIES AND BUILD THEIR FAMILIES THERE. ON THE AMENITY SIDE, THAT'S GENERALLY KIND OF OUR STANDARD AMENITY, EXCUSE ME, AMENITY LIST. SO STANDARD CLUBHOUSE, UM, COMMUNITY ROOM FITNESS CENTERS. UM, BUT ON THIS SITE SPECIFICALLY, WE WANNA POINT YOUR ATTENTION TO THAT. UH, LAST ITEM, WHICH IS COMMERCIAL FRONTAGE. [00:30:01] SO THIS SITE IS CURRENTLY ZONED UNDER PD OR PLAN DEVELOPMENT. SO ABOUT AN ACRE OF THE SITE HAD BEEN ALREADY APPROVED AND SET ASIDE FOR SOME SORT OF COMMERCIAL, UM, ENGAGEMENT. UH, WE HAVEN'T, YOU KNOW, FINALIZED WHAT EXACTLY THAT WOULD BE AND ULTIMATELY DON'T PLAN ON THAT BEING SOMETHING THAT WE AS MOST FAMILY DEVELOPERS WOULD, UH, WOULD, WOULD BRING OUT OF THE GROUND TO SAY. BUT OUR CONCEPT PLAN, WHICH YOU'LL SEE, UH, IN THE LATER SLIDES, WE'RE JUST LOOKING, OUR CONCEPT IS SHOWING SOMETHING, UH, SORT OF ACCESS TO FRESH FOOD. UM, KNOWING THAT SOUTHERN DALLAS, THAT'S, THAT, THAT'S BEEN, UM, IN MY CONVERSATIONS WITH SEVERAL COUNCIL MEMBERS, INCLUDING COUNCIL MEMBER BLAIR, UM, ACCESS TO FRESH FOOD, FRESH GROCERIES HAS JUST BEEN AN ISSUE IN THAT PART OF THE CITY. SO, UM, OUR INITIAL CONCEPT IS SHOWING SOME SORT OF URBAN FARM OR FARMER'S MARKET KIND OF. SO, UM, LOOK AT THAT, PARTNERSHIPS TO BRING THAT TO FRUITION, UM, FOR THAT COMMUNITY. UM, PROJECT TIMELINE, AGAIN, HOPING THAT AFTER THIS DAY WE GET THE SUPPORT TO MOVE FORWARD WITH SUBMITTING OUR BUYING APPLICATION TO TEXAS FARM BOARD, UM, WHICH WILL OCCUR, UH, IN OCTOBER, UH, UH, DURING THAT, DURING THAT TIME THAT TO MOVE FORWARD WITH THE RESOLUTION OF NO OBJECTION PROCESS, UM, AND GET THAT SUPPORT FROM THE COUNCIL MEMBER. UM, DO WANT TO NOTE, HOW ABOUT THE PRESS THIS MORNING? I ACTUALLY DID RECEIVE A LETTER OF SUPPORT FROM COUNCIL MEMBER BLA, FOR, UM, ESSENTIALLY THE AMENDMENT OF A PREVIOUS APPROVED RESOLUTION BILL OBJECTION FOR THE THIRD SITE EARLIER THIS YEAR. AND SO, UM, YOU, I IDEALLY, AGAIN, WE CAN GET ALL THAT LINED UP THE NEXT FOUR TO SIX MONTHS HERE AND, UM, BE LOOKING TO GET CLOSED. START CONSTRUCTION 1826, EARLY 2027, UM, A GROUND, UH, NEXT LINE. UM, RIGHT NOW, AGAIN, VERY PRELIMINARY, THIS IS OUR PROPOSED BUDGET FOR THE PROJECT. WE'RE TALKING ABOUT MAYBE A $60 MILLION YEAR. UM, AND, YOU KNOW, AS WE CONTINUE TO MOVE THROUGH THE PROCESS, ALL THE OTHER FACTORS THAT WE ALL HAVE TO WORK THROUGH AND CONSIDER, UM, WE, YOU COMING BACK TO A LATER DATE WITH OUR FINAL PROPOSED BUDGET, WHAT WOULD BE THE DEAL GROWTH? UH, NEXT SLIDE. UM, SO THIS IS JUST A PROPOSED CONCEPT RIGHT NOW. UM, PROPOSED OVERVIEW. UH, YOU'LL SEE WE'VE GOT SIX, SIX BUILDINGS ON OUR SITE. UM, SOME OF THE AMENITY SPACES THAT WE MENTIONED, UM, YOU'LL SEE SOME OF THE WALKING TRAILS THAT ARE PART OF THE DEVELOPMENT. UM, WE GOT A POOL RIGHT AROUND THE PLAYGROUND AREA, SHOWING ON SITE, UM, THAT GRASSY AREA, UH, I GUESS PLANNED WEST THAT IS CURRENTLY OUR STORMWATER DETENTION. THERE WAS AN EASEMENT PLACED IN THE SITE FOR THAT. SO THAT'S WHERE THAT, UH, COMPONENT WOULD BE. BUT ALL THE WAY TO PLAN FAR WEST OFF OF BELTLINE ROAD, THAT IS THE ACREAGE THAT WAS SET ASIDE FOR THE COMMERCIAL, UH, PROCESS USAGE. SO AGAIN, OUR CONCEPT WAS SHOWING NOW THIS PLAN CONCEPTUALLY A, UH, FARMER'S MARKET KIND OF APPROACH, AGAIN, TRYING TO BRING TO LIGHT, UH, SOME OF THE, UH, ACCESS TO FRESH FOOD CONCERNS THAT TAKE PLACE IN THIS COMMUNITY. UM, WE SHOWN THIS PLAN, THE COUNCIL MEMBER MC BLAIR, WHO GAVE US THE LESSON TO MOVE FORWARD AND AT LEAST PURSUE, TO EXPLORE US BRINGING THIS TO, TO LIGHT BECAUSE , UM, AND THIS IS JUST ANOTHER, UH, VIEW OF THE SAME CONCEPT, UM, FROM BELMONT. UM, SO THIS IS AGAIN, YOU KNOW, 164 UNITS, UH, BASED OF 1, 2, 3, AND FOUR BEDROOMS. UH, UH, 50, 60, 70% AREA MEDIA INCOME AND WOULD LOVE TO CONTINUE, UH, PUSHING FORWARD WITH THE PROCESS, PARTNERING WITH THE DALLAS HFCE AND TRYING TO BRING SOME, UH, AFFORDABLE HOUSING AND MIXED USE OPPORTUNITIES TO ATE HERE ON THE, UH, BELMONT ROAD. THAT'S ALL I'VE GOT. THANK YOU. OKAY. UM, I'LL START OFF, I HAVE A, A BASIC QUESTION FIRST. I'M TRYING TO FIND THIS ON GOOGLE MAPS, AND IT LOOKS LIKE I'M LOOKING AT MAYBE A DIFFERENT SITE. TELL ME EXACTLY WHERE I'M SOUTH BELMONT. THIS IS, SO 1275 SOUTH BELTLINE ROAD. IT WOULD BE, IT'S SOUTH OF 20, KIND OF SOUTHWEST 20. IT'S NORTHEAST OF 1 75. OKAY. AND IT'S KIND OF ON ANGLE, BUT IT'S OFF ROAD AND SOUTH BELTLINE ROAD IF YOU YEAH, IT'S BETWEEN GARDEN ROAD AND SEA. SEA, YEAH. OKAY. SO WHEN YOU WERE SHOWING THAT ILLUSTRATION AGO, WAS THAT LIKE, UH, WAS SOUTH, WAS WAS SOUTH UP OR 'CAUSE IT YEAH, SO WHEN WE WERE SO LOOKING AT THE VERY FIRST LAYOUT, YEAH, YEAH. THAT WOULD'VE BEEN US LOOKING AT THE PLAN FROM KIND OF THE EAST SIDE BY THE SIDE SIDE WHERE BELMONT WAS TO THE, TO THE SOUTH. SO IN REALITY, THE BACK OF THE PROPERTY IS FACING NORTHWEST. OKAY. CORRECT. ALL [00:35:01] RIGHT. OKAY. GOT IT. GREAT. ALL RIGHT. UM, UH, QUESTIONS, COMMENTS, UM, HOW I, I HAD A QUESTION. UH, YES, THIS IS OLIVER. UH, I, I NOTICED YOU HAD SOME FOUR BEDROOMS PLANNED, AND I HAVEN'T SEEN FOUR BEDROOMS BEING BUILT IN A REALLY LONG TIME. I, I'D LOVE TO JUST KIND OF GET YOUR THOUGHT ON, UH, ON, ON THAT, UM, AND OR, OR, OR KIND OF THE REASONING BEHIND IT. AND THEN I NOTICED IN THE SOURCES AND USAGE, YOU HAD A LOAN REPAYMENT AND THE USES ABOUT $5 MILLION. I I WAS JUST CURIOUS WHAT THE, THE DETAILS OF THAT LOAN LOAN REPAYMENT WAS. UM, SO SOURCES OF USES THAT, UH, THAT REPAYMENT, UM, I DON'T HAVE IT IN FRONT OF ME, BUT THAT'S, UH, A STRUCTURAL LOAN INTEREST IS ULTIMATELY WHAT THAT WOULD BE THROUGHOUT THE CONSTRUCTION PERIOD. I, I GOTCHA. OKAY. YEP. YEAH. GOT IT. YEP, THAT MAKES SENSE. YEP. AND THEN THE FOUR BEDROOMS, UM, HEAR YOU LOUD AND CLEAR. INTERESTINGLY ENOUGH, THAT'S GUIDANCE FROM OUR ASSET AND PROPERTY MANAGEMENT TEAM. SO OUR PROPERTY MANAGEMENT GROUP HAS ABOUT 40,000, 45,000 HOMES ACROSS THE COUNTRY. AND WHAT THEY FOUND IS THAT FROM A DEMAND STANDPOINT, TO YOUR POINT, THERE AREN'T MANY FOUR BEDROOMS OF THE MARKET. AND IN THE POPULATION THAT WE, UH, GENERALLY TARGETED IN THE AFFORDABLE HOUSING SPACE, UM, A LOT OF FAMILIES NEED MORE BEDROOMS. AND SO DEMAND STANDPOINT, WE FOUND IN OUR AUSTIN PORTFOLIO THAT THE FOUR BEDROOMS ARE OFTENTIMES THE FIRST UNITS OFF, UH, LEASE UP. AND SO FROM A DEMAND STANDPOINT, IT'S JUST KIND OF SUPPLY AND DEMAND METRICS AND, AND GUIDANCE FROM MY ASSET PROPERTY MANAGEMENT TEAM. GOT IT. THAT MAKES SENSE. THANK YOU. NO PROBLEM. HEY AARON, HOW'S OUR MEADOWBROOK PROPERTY? HOW DID LISA THIS OUT? DONE WITH CONSTRUCTION? THEY'RE, HOW'S A PRELEASING? GOD THERE, I MEAN, IT'S A LITTLE SLOWER THAN THEY WANTED, BUT EVERYTHING'S BEEN A LITTLE SOFT FOR THE LAST YEAR. YEAH, I WANT SAY THEY'RE ABOUT 5% PERCENT. JACKIE, YOU HAVE ANY UPDATED NUMBERS? I DIDN'T HEAR WHAT THE REASON BREAK A MILE AWAY. SO FROM THIS PROPERTY, WHAT PERCENT IS METAL GROUP WE STEPPED TO, I DUNNO OFF THE TOP OF MY HEAD, BUT WE DID GET UPDATE RECENTLY. ARE WE SUBJECT TO THE ONE MILE? YEAH, I WAS, AND, AND I, I BELIEVE IN A PREVIOUS RESOLUTION OF NO OBJECTION FOR THE SAME PROPERTY, THAT WAS ALL THAT HAPPENED, PUT INTO A REVOLUTION. UH, THE ONE MILE RULE, GET TO THAT , IT WASN'T THE PREVIOUS REVOLUTION FROM THAT. SO, SO IT DOES, YES, CORRECT. THE ONE MILE RULE, IT IS SUBJECT TO IT, BUT WE CAN GET A, UH, WAIVER CITY COUNCIL. CORRECT. OKAY, SO SOCIAL SERVICES, YEAH, GO AHEAD. SO YOU FINALIZED ANY OF THE GIFT, BUT GENERALLY FOR US, WE'RE USUALLY ON A FINANCIAL LITERACY SIDE OF THINGS. UM, SO ADULT YOUTH, UM, AFTER SCHOOL PROGRAMMING, WE PARTNER WITH A COMPANY, ANY PORTFOLIO RESIDENTIAL SERVICES WHO HAS A KIND OF NATIONAL PLATFORM. AND SO THOSE ARE USUALLY THE SERVICE AREAS THAT WE, WE TARGET. UM, THE, THE INTERESTING PART ABOUT THE SITE, AGAIN, HAVING THAT COMMERCIAL FRONTAGE THOUGHTS AROUND BOEING, FRESH FOOD ACCESS, UM, PORTFOLIO, RESIDENTIAL SERVICES, SOME OF THEIR OTHER PARTNERSHIPS, THEY HAVE HAD PARTNERSHIPS THAT ALIGN SPECIFICALLY WITH THAT OPTION AS WELL. SO I'M HOPING THAT WE CAN GET CREATIVE WITH THE SERVICE OFFERING PARTICULAR COMMERCIAL. SO THOSE ARE SOMETHING ADDITIONAL. OKAY. QUESTION? UH, I LIKE THE PROXIMITY TO THE REC CENTER AND THE ELEMENTARY SCHOOL. UH, IF YOU GO THAT LINE AROUND, IT'S ABOUT A MILE AWAY, BUT IF YOU GO THROUGH THE BACK, IT LOOKS LIKE IT'S ABOUT HALF MILE. AND IF IT LOOKS LIKE SULLIVAN ROAD MIGHT BE PRIVATE, UH, I DON'T KNOW IF IT'S A PUBLIC ROAD OR NOT. AND I DON'T EXPECT YOU TO HAVE EVERYTHING LAID OUT RIGHT NOW, BUT WHEN YOU COME BACK, IF YOU HAVE MORE INFORMATION ABOUT WHETHER OR NOT THERE'S AN EASEMENT ON THE EAST SIDE THAT GIVES YOU ACCESS TO GO UP TO ED ROAD, WHEN YOU SAY NORTHEAST SIDE, SO I'M LOOKING AT OUR PLAN NORTH, THE, THE SITE RIGHT TO GO, TO GO FROM, FROM THE BACK NORTH. SO EDGE ROAD. SO I UNDERSTAND AND FROM MY INITIAL UNDERSTANDING ALL OF THAT LAND AND THEN I LEAVE SITES TO KIND OF NORTHEAST AND WEST, THOSE WERE ALL OWNED BY THE SAME OWNER WHO WE ARE THE CONTRACT WITH. AND SO FROM AT LEAST, UH, ACCESS TO THE CITY STANDPOINT, OUR ACCESS COMING OFF OF BELMONT ROAD THAT'S SUPPOSED TO UP. AND SO I BELIEVE ONCE THEY DO THEIR SINGLE FAMILY A TOWNHOUSE COMPONENT ON THE BACKSIDE, THEY WOULD DO THE SAME TO MAKE THAT CONNECTION ALL THE WAY THROUGH. BUT TO YOUR POINT, THAT'S SOMETHING [00:40:01] THAT YES. A CONCERN I HAVE TO JUST UN TRYING TO UNDERSTAND THE PEDESTRIAN ACCESS TO FROM THIS PROPERTY. IF YOU'RE TRYING TO GET TO BERG ELEMENTARY OR THE LIBRARY OVER THERE, IT, ONE OF THE CONCERNS WE HAD WHEN SOMEBODY BROUGHT UP THE MEADOWBROOK UM, SITE, THAT ONE, THE FIRST TIME THAT CAME TO OUR BOARD IS ANOTHER, UH, APPLICANT THAT BROUGHT THAT. AND WE ACTUALLY REJECTED IT BECAUSE THE QUALITY OF THE PEDESTRIAN INFRASTRUCTURE IN THAT AREA IS SO POOR. AND, AND WHEN, UH, LDG ENDED UP, AND ONE OF THE REASON WAYS THEY WERE ABLE TO GET THE BOARD SUPPORT IS THEY AGREED TO WORK WITH THE CITY TO, UM, BUILD A SIDEWALK CONNECTION FROM THEIR SITE ALL THE WAY UP TO, UH, SIEGEL HIGH IN MIDDLE SCHOOL ALONG THE ROAD WHERE THEY THEY'RE AT. AND YOU KNOW, SO I'VE GOT LIKE SIMILAR CONCERN HERE. 'CAUSE IF YOU LOOK AT BELTLINE, IT DOESN'T LOOK LIKE THERE'S ANY SIDEWALKS THERE. AND SO I'M JUST LIKE WORRIED ABOUT PEOPLE BEING AT THIS PROPERTY AND NOT BEING ABLE TO KNOW ANYWHERE WE HAVE GETTING IN A CAR. AND SO IF YOU'RE LIKE A KID, YOU'RE LIKE, I DON'T LIKE THE IDEA OF PEOPLE BEING LIKE, YOU KNOW, HOUSEBOUND UNLESS THEY'VE GOT ACCESS TO A MOTOR VEHICLE. SO THAT'S SOMETHING WE WANNA TO THAT BETWEEN NOW AND AND HIM COME BACK. BUT YOU SAID COUNCILMAN MC BLAIR IS, UH, IS IS SUPPORTING IT. SHE, SHE, SHE, SHE'S BEEN SUPPORTIVE. WE MET WITH HER TWICE ON THIS. AND AGAIN, WE GOT THE SUPPORT LETTER THIS MORNING ON, UH, MOVING FORWARD WITH INDUCEMENT AND RESOLUTION OF NO OBJECTION. 'CAUSE YOU KNOW, AGAIN, IT'S, AS FAR AS SHE'S CONCERNED, I WANNA SPEAK WITH HER. MY UNDERSTANDING IS THAT, UH, THIS HAD BEEN ENVISIONED ALREADY FOR THIS AREA FOR MS COMMUNITY AND SO SHE DIDN'T WANT TO GET IN THE WAY OF STOP MANY OF THE PROGRESS THAT HAD ALREADY BEEN, UH, PROPOSED FOR THAT AREA. BUT I HEAR YOUR CONCERNS LOUD AND CLEAR ABOUT ACCESS. THOSE ARE THINGS THAT, YOU KNOW, AS DEVELOPMENT PARTNERS NEED, WE WANT TO NOT MAKE THIS OUR PERSON DEAL HERE IN DALLAS AND WITH HFC. AND SO THAT'S SOMETHING WE CAN GATHER, HAVE CONVERSATION WITH HER. UM, ANYONE ELSE IN THE CITY ABOUT HOW WE ACCESS OR RELEVANT TO THE RESIDENT. UH, I'M SURE SHE LOVES THE BIGGER UNITS TOO. 'CAUSE I KNOW WHEN I'VE TALKED TO HER IN THE PAST IT'S BEEN HOT, BUT ABOUT, UM, AFFORDABLE PROJECTS IS THAT NOT HAVING ENOUGH OF A, UM, LARGE, YOU KNOW, MORE LARGER, UH, UNITS IN THE, UH, INDEX TO ACCOMMODATE FAMILIES AND IN THEIR OWN GENERATIONAL FAMILIES. SO YEAH. I HAVEN'T ANSWERED DR. ELLIS'S QUESTION. OH, UH, GOT CONFIRMATION. WE'RE AT 97.8% OCCUPANCY AT BERG. WHAT'S, WHAT'S THE OCCUPANCY? 97.8% YESTERDAY. REALLY? WOW. BUT THE ONE YOU WERE TALKING ABOUT WASN'T BETTER BRIGHT BECAUSE IT'S IN THERE NOW. L DG DEALS. OH, THAT'S WHERE THEY, THEY HAVE TWO DEALS HERE. YEAH. OKAY. IT IS BETTER. YEAH. WHICH ONE IS WHICH I BROKER IS THE ONE THAT'S LIKE 0.7 MILES AWAY. YEAH, IT'S ON, ON BELT. ON BELT. OH, OKAY. THE ONE I WAS TALKING ABOUT IS ONE THE OTHER LG G PROJECT ON WOODY ROAD AND YEAH. YEAH, THAT'S, THAT'S MORE, THAT'S MORE THAN A MILE AWAY. OKAY. IT'S THE SAME, IT'S THE YEAH. YEAH. IT'S PRETTY CLOSE. IT'S, YEAH, BUT OKAY. THAT ONE'S THE ONE THAT'S OFF THE HIGHWAY, RIGHT? YEAH, YEAH, YEAH. UM, ARE WE TALKING ABOUT THE ONE THAT WAS, UH, THE, UH, LEG PARKED THAT WAS NEAR THE ONE I WAS TALKING ABOUT IS THE ONE THAT ON THE, UH, CORNER OF WOODY ROAD AND IN 1 75 YEAH. HILLS, I THINK THAT'S TYLER BILLS. OKAY. YEAH. OKAY. YEAH. TYLER HILLS. THAT A FEW QUESTIONS FOR YOU. UM, IN YOUR APPLICATION, IT SHOWS A MIX OF TWO, THREE AND FOUR BEDROOMS, 161 ON THE POWERPOINT. YEP. WE HAVE A LITTLE DISCREPANCY. UM, IT SHOWS A TOTAL OF US TO BE 12 FOUR BEDROOM AS OPPOSED TO 16. AND THEN A POWERPOINT, YOU MENTIONED ONE BEDROOM. SO WHY, WHAT ARE WE GONNA DO TODAY? UM, SO THE CHANGE HAPPENED BECAUSE WHEN I SUBMITTED THE APPLICATION, WE HADN'T QUITE GOTTEN OUR SITE PLAN TO GOT TO WHAT YOU HAVE BEFORE YOU, SO THAT WAS, I KIND OF BEST GUESS AT THAT POINT IN TIME. OKAY. UM, AND SO WHAT YOU'RE LOOKING AT NOW IS FOUR RELATED. OKAY. ALRIGHT. UM, SIMILARLY WITH REGARD TO THE COMMERCIAL FRONTAGE, THE, UH, AND I LOVE THE IDEA OF BRINGING FRESH FOOD TO THE COMMUNITY. I THINK WE'RE STARTING TO SEE TRENDS MATTER OF FACT, I THINK THERE WAS AN ARCH IN THE PAPER TODAY THAT'RE TALKING ABOUT SOME OF THE STRUGGLES THAT SOME OF THE FARMER'S MARKETS AROUND TOWN ARE, HAVE. UM, IF FOR WHATEVER REASON THAT DOES NOT WORK OUT, DO YOU ALL, ARE YOU GONNA KEEP THAT PIECE OF PROPERTY OR DO YOU ALL ALSO HAVE, WOULD Y'ALL SELL IT? WHAT, WHAT'S [00:45:01] THE PLAN? UM, WE COULD SELL IT. THAT'S ALWAYS OPTION. UH, BUT I THINK FOR, FOR ME, I'D RATHER US KIND OF COME TOGETHER TO KIND OF TALK ABOUT WHAT'S BEST RIGHT THERE, BUT I DON'T, I LIKE, I WOULDN'T WANT TO DO IT, PROPOSE SOMETHING AND THEN WE'RE JUST ALL DONE WITH ME. RIGHT. I UNDERSTAND. WE WANNA MAKE SURE IT KIND OF FITS IN WITH WHATEVER YOU WANT, WANTS FOR THAT NETWORK, BUT, UM, SOLD IT. I DO HAVE CONTACT WITH AT LEAST ONE, UH, OR TWO OTHER COMMERCIAL RETAIL KIND OF DEVELOPER DEVELOPMENT SHOPS HERE IN THE DALLAS AREA. UM, AND SO IT'D BE A CONVERSATION WITH THEM TO SEE WHETHER THAT'S SOMETHING THAT THEY COULD MAYBE PROPOSE THAT AGAIN WOULD BE, UM, IN LINE FOR WORK. SO MY, SO TO ANSWER YOUR QUESTION PLAINLY IS MY FIRST ACTION CAN'T DO ANYTHING WITH IT IN THIS BOX, BOX ITSELF? NO. THAT, THAT, THAT'S NOT WHAT I, AND, AND TO THAT END, AS IT RELATES TO COMMUNITY ENGAGEMENT, HAVE YOU ALL STARTED THAT PROCESS AND SPEAKING TO THE COMMUNITY AS IT RELATES TO YOUR PROPOSAL FOR THE SITE AND THEIR THOUGHTS? WE HAVE NOT YET. WE WANTED TO GET THROUGH CONVERSATIONS WITH COUNCILOR AGAIN, UNDERSTANDING THAT THIS HAD ALREADY GONE MY UNDERSTANDING, YOU KNOW, GOING, WENT THROUGH THE, THE, THE PD PLAN DEVELOPMENT OVER A HANDFUL OF YEARS. SO I KNOW COMMUNITY ENGAGEMENT WITH RIGHT THERE. THEN ALSO, AGAIN, FURTHER THIS YEAR HAD GONE THROUGH, GOTTEN APPROVED FOR REST. OBJECTION. SO BEFORE WE STARTED HAVING CONVERSATIONS OUTSIDE OF THE COUNCIL MEMBER'S OFFICE, WE THOUGHT IT MADE SENSE TO CONNECT WITH HER FIRST TO MAKE SURE SHE WAS ALIGNED WITH US TRYING TEAM. OKAY. ALRIGHT. ANY OTHER, UH, COMMENTS? ANYBODY ONLINE? OKAY, WITH THAT, I'LL ENTERTAIN A, UH, MOTION TO APPROVE THE INDUCEMENT. I'LL SECOND. OKAY. MOTION IN A SECOND. UM, WE'LL TAKE THIS AS THIS IS A, UH, THANKS ITEM. WE'RE GONNA DO A RECORD VOTE, UM, UP HERE. OKAY. UM, DIRECTOR ALLEN. I'M STAYING RIGHT NOW. OKAY. DIRECTOR NAMBIAR. PRESIDENT. DIRECTOR EBOLA. OKAY. DIRECTOR MARSHALL C APPROVE TREASURER PHARAOH APPROVE. DIRECTOR COLLINS, DIRECTOR HINTON APPROVE. VICE PRESIDENT GARCIA APPROVE. DIRECTOR ELLIS APPROVE. PRESIDENT HIN APPROVE. DIRECTOR ROBINSON. DIRECTOR ROBINSON. SORRY, HOW YOU ON? UH, APPROVE? I WAS ON MUTE. OKAY. UH, DIRECTOR MOORE APPROVE. SECRETARY PAGE. I APPROVE DIRECTORS 80 APPROVE. OKAY. THAT MOTION CARRIES. THANK YOU. THANK YOU. UM, WITH THAT WE'LL MOVE TO THE NEXT ITEM. AGENDA ITEM SEVEN, AN ACTION ITEM. CONSIDER AN ADOPT AN INDUCEMENT RESOLUTION DECLARING ATTEMPT TO ISSUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT, NOT TO EXCEED $50 MILLION FOR A LOAN TO UNIVERSITY HILLS PARTNERS LP TO PROVIDE FINANCING FOR A MULTI-FAMILY RESIDENTIAL RENTAL DEVELOPMENT FOR PERSONS OF LOW AND MODERATE INCOME, BE KNOWN AS UNIVERSITY HILLS, AND TO BE CLO LOCATED NEAR THE NORTHWEST CORNER OF SOUTH LANCASTER ROAD AND EAST WHEATLAND ROAD, DALLAS, TEXAS 7 5 2 4 1 AUTHORIZING THE FILING OF AN APPLICATION FOR ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD AND CONTAINING OTHER RELATED PROVISIONS. GENERAL MANAGER KETO. YEAH, SO I GOT A MESSAGE ACTUALLY A LITTLE WHILE AGO SAYING THAT THEY WEREN'T ABLE TO COME TODAY, SO YOU GUYS WOULD WANNA DEFER THIS TO THE NEXT MEETING. THEY COULD BE HERE TOO. THE SENATE IT. YEAH, I THINK I'M GONNA DEFER THAT. UM, YEAH, NEXT STEP. OKAY. UM, WE'LL NOW MOVE ON TO AGENDA ITEM NUMBER EIGHT. ACTION ITEM. CONSIDER AN ADOPT AN INDUCEMENT RESOLUTION, DECLARING INTENT TO ISSUE BOND IN AGGREGATE PRINCIPLE AMOUNT NOT TO EXCEED $53 MILLION FOR [00:50:01] A LOAN TO HICKORY TRAIL PARTNERS. LP PROVIDE FINANCING FOR A MULTI-FAMILY RESIDENTIAL RENTAL DEVELOPMENT FOR PERSONS OF LOW AND MODERATE INCOME TO BE KNOWN AS HICKORY TRAIL CROSSING. AND TO BE LOCATED AT 91 0 1 OLD HICKORY TRAIL, DALLAS, TEXAS 7 5 2 3 7 AUTHORIZING THE FILING OF AN APPLICATION FOR ALLOCATION OF PRIVATE ACTIVITY BONDS WITH THE TEXAS BOND REVIEW BOARD AND CONTAINING OTHER RELATED PROVISIONS. GENERAL MANAGER, GENERAL MANAGER, KETO. BACK TO YOU. YES. UH, SO WE HAVE ONE MORE DEVELOPER HERE. SO FESTER FROM PROVIDENCE REALTY ADVISORS AND A CFC PRESENT THEIR PROJECT PROPOSAL. GOOD AFTERNOON. I'M MARK FESTER WITH PROVIDENCE REALTY ADVISORS. I HAVE WITH ME JOHN HICKMAN. ALSO WHAT WE ARE PROPOSING AS SOON AS IT COMES UP. APOLOGIZE, THEY ON THE INTERNET DOWN HERE SOMETIMES, SO NO WORRIES. CAN TELL YOU GO AHEAD TO SKIP THROUGH. I THINK PROBABLY THE FIRST TWO. UM, WHAT WE'RE PROPOSING IS A APPROXIMATELY 288 UNIT DEVELOPMENT, UH, ON LAND THAT WE CURRENTLY OWN IN, UH, ON OLD HICK CREEK ROAD SOUTH DALLAS. UM, I DO WANT TO DO THIS, AND THIS WILL BE THE FIRST PHASE. UH, DO WE HAVE ENOUGH LAND THAT WE CAN COMPLETE A SECOND PHASE? UH, WE HAVE NOT DETERMINED IF THAT'S GONNA BE MARKET RATE AFFORDABLE OR EXACTLY WHAT IT IS. UM, FIRST OF ALL, I'M GONNA THANK COUNCIL MEMBER BLAIR. MET WITH HER A COUPLE OF WEEKS AGO, UH, WENT OVER THIS WITH HER, GOT SOME VALUABLE INPUT FROM HER, UH, AS WHAT SHE WOULD LIKE TO SEE AS FAR AS UNIT MIX. UH, EXCUSE ME. AND, UH, ALSO IN, UM, UH, MIX. UH, AS, UH, YOU KNOW, THE FIRST GENTLEMAN DISCUSSED, SHE, UH, IS BIG ON NOT JUST A HUNDRED PERCENT 60. SHE WOULD LIKE TO SEE SOME EIGHTIES, SEVENTIES, FIFTIES, SIXTIES IN IT. SO THAT'S KIND OF WHAT WE HAVE PROPOSED. UH, CAN I GET YOU TO BACK UP SO I CAN JUST BE A LITTLE INFORMATION ABOUT NCE? SURE. LITTLE BIT MORE TO WE START AT THERE. PROMINENT, UM, IS A MULTILEVEL DEVELOPMENT COMPANY BASED HERE IN DALLAS. UM, AS YOU CAN SEE FROM THE MAPS, WE ARE PRIMARILY IN THE SOUTHERN MIDWEST, UH, SOUTH CENTRAL AND SOUTHEAST PART OF THE COUNTRY. NEXT ONE. AND WE DEVELOP ACROSS SEVERAL DIFFERENT, UH, VENUES. WE HAVE INDUSTRIAL, WE HAVE SINGLE FAMILY LOT DEVELOPMENT. WE HAVE OUR MULTIFAMILY DIVISION, WHICH JOHN AND I WORK IN. UH, WE HAVE A HOSPITALITY VISION AND THEN WE ALSO ARE THAT DATA CENTER DEVELOPMENT BUSINESS. ALL TOTAL, WE'VE DONE IN EXCESS OF $6 BILLION SINCE, UH, THE COMPANY STARTED IN 1991 AND WE CURRENTLY STILL HAVE UNDER MANAGEMENT APPROXIMATELY THREE. EVEN IN THAT, THE MULTIFAMILY PORTION OF THAT IS, UH, WE'RE APPROACHING 3 BILLION IN, UH, IN DEVELOPMENT, UH, THE MULTIFAMILY, UH, AND, AND WE DO THAT ACROSS ALL TYPES OF CONSTRUCTION AND ALSO ALL TYPES OF AFFORDABILITY. UH, FROM GARDEN STYLE TO MIDRISE, HIGHRISE SINGLE FAMILY OR BUILD TO RENT THAT MIRRORED SINGLE FAMILY. AND THEN WE DO EVERYTHING FROM THE MARKET RATE DEVELOPMENT, UH, TO WORKFORCE HOUSING, AFFORDABLE HOUSING, AND FIXED INCOME ALONG WITH SOME ACTIVE AND AFFORDABLE SENIOR. THE AFFORDABLE PORTION OF THAT IS, UH, APPROACHING 700 MILLION AND WE USE, UM, JUST ABOUT TOOL AVAILABLE TO US, UH, TO ACCOMPLISH THE AFFORDABLE HOUSING ALL THE WAY FROM, UH, THE FOR STAFFS, UH, THE 4%, UH, LIVE TECH CREDITS COUPLED WITH PRIVATE ACTIVITY, BONDS, COMMUNITY DEVELOPMENT, UH, BOND OR MONEY. AND THEN JUST ANY, ANY OTHER SOURCE THAT WILL HELP US MAKE THINGS WORK. [00:55:07] THESE ARE THE PRINCIPALS, UM, BOTH ME AND PROVIDENCE LEON BCUS STARTED PROVIDE, AS I MENTIONED IN 1990 YJ AS THE PRESIDENT AND THEN MATT HARRIS AND DAVE POLLEN. UH, OUR MASTER MANAGE DIRECTOR OF THE MULTIFAMILY INNOVATIONS DAVES IS MEMBERS. YOU GOT THESE NEXT SLIDES ARE, ARE SOME EXAMPLES OF SOME OF THE RECENTLY COMPLETED, UM, PROJECTS THAT WE'VE DONE MAY HELP CROSSING IS, UH, IN DENTON, TEXAS. WORKFORCE HOUSING MIXED INCOME WILL BE COUPLED WITH THE DENTON HOUSING AUTHORITY. UH, IT IS IN LEASE UP AT THIS POINT IN TIME. IT'S, UH, 264 UNITS. AND THESE ARE JUST SOME SAMPLE PICTURES OF INTERIORS OF THE UNITS, THE CLUBHOUSE AND THE GROUNDS. EXCELLENT. ORAL COMMONS IS A 256 UNITS, UH, DEVELOPMENT IN AUSTIN. IT'S ACTUALLY A LITECH DEAL. UH, IT IS LEASED AND AGAIN, FIXTURES OF INTERIORS CLUBHOUSE. WATERVIEW CROSSING IS ANNA TEXAS. IT'S A 300 UNIT DEVELOPMENT THAT WE ARE JUST FINISHING AND IT'S JUST STARTED, UH, . UH, THE NASH IS AN EXAMPLE OF A MARKET RAY DEAL THAT WE DID HERE, UH, FAIRLY CLOSE TO OUR OFFICE ON NORTH CENTRAL EXPRESS LINE. IT'S, UH, IT WAS BUILT TWO PHASES AND MAXIMUM 521 UNITS, UH, AND DO SOME SAMPLE PICTURES AND THE CARRIER EXTERIOR, SO KIND, UH, AND COURT, UM, IS WHEN I SAID WE USE ALL KINDS OF, OF TOOLS. WE ACTUALLY, UH, PARTNERED WITH THE GLO RV FUNDS THAT THEY GOT, UH, ABORT AND, UH, DELTA, UH, COURT WERE TWO DEVELOPMENTS IN, UH, IN BEAUMONT. AND THEN WE ALSO HAD A THIRD DEVELOPMENT THAT WE USED THOSE, THOSE WITH IN, UH, JASPER, TEXAS. NEXT, THIS IS THE, THE SITE THAT WE'RE TALKING ABOUT SOUTH OF 20 AND TO THE EAST OF 67. IT'S OUTLINED IN THE, IN THE RED THERE, UH, OLD VICTORY TRAIL IS THE STREET THAT IS AT THE, UH, RIGHT HAND SIDE WHERE THE NECK COMES OUT. I WILL POINT OUT THE MULTIFAMILY DEVELOPMENT THAT'S, THAT'S RIGHT THERE ON THE, UH, WHAT I WOULD CALL THE SOUTHEAST PORTION OF SITE, UH, IS ONE THE T DID BACK IN OH EIGHT WAS A DEAL. SO JUST A CLOSER VIEW OF THE SITE PORTION ON THE NORTH SIDE OF OUR ENTRANCE NEXT THERE, EXACT MARKET RACE APARTMENTS DEAL THAT IS BEING BUILT, UH, AS STREET, I DON'T THINK IS THE BIGGER PORTION ON THE BACK, UH, IS WHERE WE WILL DO THE FIRST PHASE ON THE LOWER PART OF THAT AND RESERVE PARK FOR A SECOND PHASE AT SOME. IS THAT RUNNING THROUGH THE PROPERTY? UM, I DON'T THINK IT'S AN ACTUAL CREEK. THERE IS A LITTLE DRAINAGE DOWN THROUGH THERE OF THAT. YEAH. ON THAT CORNER, WHICH PROPERTY PROPERTY WAS IT THAT YOU SAID WAS THE MULTI-FAMILY MARKET RATE? UH, THE DEVELOPMENT. IT'S, IT'S IN THAT BLANK PORTION ON THE, ON THE TOP SIDE OF THE OKAY. DRIVEWAY. OKAY. SO THE BRA, THE BRACE HANG. PARDON? THE BRACE SIDE? IS THAT IT? I THINK SO, YES. OKAY. NEXT, AND THIS IS JUST A SUMMARY OF, OF WHAT WE'RE PROPOSING. AGAIN, IT'S, UH, AS I'M SURE YOU'RE AWARE, THESE ARE KIND OF FLUID, UH, FLUID NUMBERS AND, AND IMMUNE MIXES UNTIL WE FINALIZE OUR FINAL APPLICATION, , T-D-A-C-A. BUT RIGHT NOW WE'RE LOOKING AT 288 UNITS. UH, 5% OF THE UNITS WILL BE, UH, AT 80% A [01:00:01] MI, UH, 5% AND 70, 75%, 60 AND 15%, 50% A MI. AND THESE ARE, THESE ARE NUMBERS THAT WE TALK TO COUNCIL MEMBER BLAIR ABOUT. UH, UH, AS I MENTIONED, SHE LIKES TO SEE MORE VARIETY OF, OF INCOME LEVELS JUST TO 60%, YOU KNOW, MIX. UH, WE'LL HAVE ABOUT 12 POINT A HALF PERCENT, UH, ONE BEDROOMS, 37 POINT A HALF TWOS, 37 POINT A HALF THREES, 12 AND A HALF. AND KNOW THERE WAS A QUESTION EARLIER ABOUT, UH, THE 4% UNITS. AND THAT IS, THAT IS SOMETHING THAT WE HAVE SEEN, UH, HERE IN THE, IN THE LATTER, WELL I CAN SAY LAST FOUR OR FIVE YEARS THAT THERE'S MORE DEMAND FOR THAT. AND, UM, WE HAVE THOSE IN OUR OTHER TAX CREDIT DEALS AND THEY DO LEASE UP. UH, THERE IS A PRETTY GOOD , UNFORTUNATELY. PART OF THAT I THINK STEMS FROM THE FACT THAT STARTER HOMES, FAMILY HOMES ARE UP HERE RIGHT NOW. A LOT OF PEOPLE HAVE TROUBLE FINANCING THOSE AND GETTING A SINGLE FAMILY HOME. AND SO WHAT WE'VE TRIED TO DO IS, IS MAKE THOSE THREE BEDROOM AND FOUR BEDROOM UNITS AVAILABLE IN A MORE AFFORDABLE FORMAT FOR THOSE FAMILIES. AND IN THE BOTTOM, OUR TYPICAL AMENITIES, UH, PACKAGE, AS YOU CAN SEE FROM THE PICTURES, UH, WE'VE GOT THE LOUNGE, FITNESS CENTER MEETING ROOMS, USUALLY A RESORT STYLE POOL, STATE OF THE ART FITNESS CENTER, DOG PARK, LEG OUTBOARD GRILLS, UH, THAT I'LL OPEN. ANY QUESTIONS THAT, THAT YOU ALL ARE ALL CONFIDENT THAT YOU CAN GET TO THE 80% BREADTH LEVELS THAT SHE LIVES? UM, WE'VE DONE, UH, A PRELIMINARY ANALYSIS. UM, MARKET RATE IS JUST A LITTLE ABOVE THE, THE SIXTIES AND SEVENTIES. UH, BUT UM, WE FEEL LIKE PART OF WHAT DRAWS THAT DRIVES THAT MARKET RATE AS THE, THE AGE PROPERTY DOWN THERE. SO WE'RE COMING IN WITH SOMETHING NEW. UH, WE FEEL WE HAVEN'T FINALIZED OUR FIVE MARKET STUDY TURN AHEAD, BUT, UH, WE LIKE THOSE ARE. AND THEN WOULD YOU BE GOING IN AS PRIORITY THREE TO THE LOTTERY? UH, YES. OKAY. YES. SO I GUESS THAT GIVES YOU ENOUGH RUNTIME TO WORK THROUGH YOUR PERMITS HERE OR WORK THROUGH YOUR RUN HOUR. , YOU'RE WELL AWARE, BUT YES, SIERRA, ANY PLAN, CITY ONLY PLAN TO EXTEND WESTMORELAND ROAD ON THE WEST OF YOUR PROPERTY? OUR UNDERSTANDING IS THEY DON'T, THEY ABANDONED THAT THEY'RE, UM, ON THAT LAST, I THINK IT WAS THAT LAST SCREEN OR THE, THE MAYBE THE FIRST YOU CAN, UH, THERE IS A STREET THAT WILL COME IN TO THE BACK. THERE'S MAYBE A 50 FOOT AND IT JUST HAPPENS TO BE IN, IN THE CITY OF DALLAS, THERE'S MAYBE A 50 FOOT FOOT DOWN THERE. YOU CAN KIND OF SEE IT ON THE NORTH EDGE THERE. OUR INTENT, UM, AND WE PROBABLY FIGURED WE WILL HAVE TO DO THAT FOR, FOR EMERGENCY AND FIRE ACCESS IS TO EXTEND THAT INTO OUR ROCK TOO. YEAH. SO COULD YOU, UM, THERE BE THE ABILITY TO HAVE PEDESTRIAN ACCESS THROUGH THAT WEST PARK TO KIND OF GET OUT THERE TO WESTMORELAND ROAD ON GOING UP TO THE NORTH? LIKE WE UM, YOU'RE TALKING TO WESTMORELAND GOING UP TOWARDS THE THE MEDICAL YEAH, JUST LOOK, LOOKING AT, YEAH, YOU'VE GOT LIKE, UM, OR, OR YOU KNOW, PEDESTRIAN AND MOTOR VEHICLE. JUST WONDERING, YOU'VE GOT LIKE, YOU KNOW, A LOT OF, YOU'VE GOT THE HOSPITAL HERE, YOU'VE GOT, UM, WHICH I'M SURE BE A BIG EMPLOYMENT CENTER AND THEN YOU'VE GOT SOME DETAIL AND STUFF THERE. JUST THE YEAH, NICE. IF HE HAD THE ABILITY TO DIRECTLY WALK OR DRIVE THERE FROM THE, YOU KNOW, GOING OUT WEST SIDE BED, THAT'S POSSIBLE. THAT'S SOMETHING WE'LL DEFINITELY CHECK WITH THE CITY WITH. UH, I'M NOT SURE ABOUT THE DRIVING PORTION. THERE MIGHT BE, YOU KNOW, WE MIGHT HAVE THE ABILITY TO HOOK SOME KIND OF WALKING BACK UHHUH LIKE THAT UP THROUGH THAT AREA. YEAH, I WAS JUST THINKING, I MEAN, IT'D BE GREAT IF YOU'RE LIKE, IF YOU'RE WORKING AT THE HOSPITAL THERE, YOU GET THIS, YOU KNOW, YOU'RE RIGHT HERE. YOU CAN SAY YOU WALK OUT THE BACK DOOR AND YOU'RE LIKE, WORK WORKING AT LIKE FEET. THAT'S, THAT'S SOMETHING EXPLORE. BUT OUR OUR UNDERSTANDING IS THAT THEY HAVE ABANDONED THAT. IS THAT RIGHT JOHN? [01:05:07] SO THEY HAVE, UH, CITY HAS ABANDONED, UH, CITY WESTMORELAND CURRENTLY. THEY OWN MOST OF THE RIGHT AWAY, BUT SOME OF THE THINGS BOUGHT BACK BY SOME ADJACENT . THERE'S A STREET ON THE OTHER SIDE OF RIGHT AWAY. THAT'S, UH, I BELIEVE THAT WE'LL BE USING AS SECURITY ACCESS POINT FOR FIRE AND, UH, SINCE, AND WE CAN MAKE THE VEHICLE AND THE PEDESTRIAN ACCESS THERE, UM, WE CAN TALK TO THE CITY ABOUT USING WEST WATER. I THINK IT'S GETTING BOUGHT UP BY THE NEIGHBORS. YES. ONE OF THE THINGS WE LIKE TO TRY TO DO IS JUST AS MUCH AS POSSIBLE INTEGRATE THESE INTO THE, YOU MAKE SURE THE CONNECTIONS TO THE SURROUNDING NEIGHBORHOOD IS AS STRONG AS POSSIBLE. SO IT'D BE GREAT IF THERE WAS A WAY TO GET OUT TO WEST SIDE AS WELL. SO BECAUSE OF THAT, UH, HOSPITAL AND SOME OF THE OTHER SERVICES WERE RIGHT THERE, CHILD PRIVACY OWNED THE SITES ON THE NORTHWEST NORTHEAST CORNER THAT'S, UH, UNDER DEVELOPMENT FROM THE DIFFERENT DEVELOPMENT. YES, YOU DID. YES. AND HOW LONG AGO DID CHILD SELL THAT? THAT WAS A YEAR AND A HALF AGO. A YEAR AND A HALF AGO. AND SO THEY'RE DOING A MARKET RATE DEVELOPMENT AS YOU ALL LOOK AT YOUR SITE TO TRY TO PENCIL INSULIN PERFORM A MARKET RATE DEVELOPMENT. UM, I DON'T KNOW THAT WE RAN INTO AS MARKET RATE. I THINK WE ARE, IT'S JUST A VISION THAT IS AS, UH, AFFORDABLE AND ONE, I THINK ONE, ONE, THE REASON I'M ASKING IS WE, WE HAVE, THERE'S A FAIR AMOUNT OF CONCENTRATION OF AFFORDABILITY IN THAT AREA, IF YOU WILL. MATTER OF FACT, I THINK WE STILL HAVE A PROPERTY THAT'S UNDER CONSTRUCTION. I'M STILL UNDER CONSTRUCTION. THE REHAB, WHAT'S THE ONE RIGHT THERE? WEST? WEST VIRGINIA. WEST VIRGINIA. YEAH, WE OWN WEST VIRGINIA. YEAH, IT'S A REHAB, IT'S A REHAB IF YOU FEEL. BUT BEYOND THAT, I KNOW THAT THEY'RE A GREAT NUMBER OF, WE WE ACTUALLY VISITED, UM, WITH Y'ALL ABOUT THIS ONE, UH, A COUPLE YEARS AGO IF THEY ALREADY HERE. UM, WE WERE ENVISIONING A DIFFERENT TYPE OF PRODUCT. UM, BUT THAT WAS ONE OF THE, THAT WAS ONE OF THE DISCUSSIONS WE HAD ABOUT THE, UM, UM, CONCENTRATION IF YOU'LL YEP. OF, OF AFFORDABLE WHEN WE VISITED COUNCIL MEMBER BLAIR. UH, A COUPLE OF THINGS THAT HAPPENED SINCE THEN. NUMBER ONE, THE A MI HAS GONE, GONE OUT OF THE, THROUGH THE CEILING WITH, WITH DALLAS. UM, AND WHAT WE'RE SEEING NOT ONLY HERE BUT IN OTHER MARKETS IS THAT THAT MARKET RATE RENTS AREN'T KEEPING UP. SO A LOT OF TIMES THE AFFORDABLE IS, IS ALMOST A MARKET DISCUSSED EARLIER. UM, WE THINK THAT, THAT A LOT OF THAT IS AGING, AGING OUT, SO TO SPEAK, OF THE MARKET. AND SO WE, WE JUST THINK THAT, THAT THERE IS DEMAND FOR A MORE AFFORDABLE NEW OR PRODUCT IN THAT MARKET NEW OR BEING THE KEY. YEAH. YES. YEAH. THAT THERE'S NOT A LOT OF CHANGE DEVELOPMENT AT MARKET. RIGHT, RIGHT. I KNOW. AND SO THERE'S CERTAIN COUNCIL PEOPLE TALK ABOUT NEED FOR, I WANT NEW DEVELOPMENT, I WANT MARKET RATE DEVELOPMENT AS WELL. AND SO, YOU KNOW, IT SEEMS LIKE THERE'S ALMOST LIKE THAT MUTUALLY EXCLUSIVE EVIDENCE ALMOST. IT'S YES, UNFORTUNATELY. ANY OTHER, UH, COMMENTS? I HAVE A QUESTION. YEAH, PRESIDENT, I HAVE A QUESTION. UM, SO ARE YOU PLANNING TO DO SELLER FINANCING? EXCUSE ME? ARE YOU PLANNING, ARE YOU PLANNING TO OH, SELLER FINANCING TO DO SELLER UHHUH SINCE YOU ALREADY OWN IT? NO, IT, IT IS A DIFFERENT ENTITY OF PROMINENCE THAT OWNS IT. SO WE WILL ACTUALLY, THE MULTIFAMILY DIVISION WILL ACTUALLY BE BUYING THE LAND, UH, FROM THEM. AND SO IT IT'LL BE THE TYPICAL PRIVATE ACTIVITY BOND LITECH STRUCTURE, UH, OF FINANCING ON THE DEAL OR YEAH. BUT, UM, OKAY, BECAUSE SOMETIMES, UH, WE HAVE SOME CONCERNS ABOUT A RELATED ENTITY BEING THE SELLER. SO DOES, SO DOES, YEAH. SO DOES T-D-H-C-A. SO WE, WE HAVE TO DOCUMENT TO THEM THE ORIGINAL PURCHASE PRICE OF THE LAND, SOME CARRYING COSTS, AND WE CANNOT PAY THEM ANY MORE THAN, UH, UH, YOU KNOW WHAT THAT CALCULATION SHOWS. OKAY. THAT'S THE PRICE OF THE LIST. IT SHOULD BE IN THAT. YEAH. I, SO I LOST, I LOST MY PLACE. SO YEAH, IT'S, SORRY, I'LL FIND [01:10:04] YOU QUESTION FOR A PRETTY GOOD PRICE BECAUSE I'M SELLER. ANY OTHER, UM, QUESTIONS, COMMENTS? YOU WANNA HEAR ANYBODY ONLINE, RIGHT? YEAH, I, I, REAL QUICK, I'LL, I'LL JUST KIND OF, YOU KNOW, AS IT RELATES TO THIS KIND OF RELATED ENTITY INTERNAL TRANSFER, I, I THINK I WOULD WANNA SEE OBVIOUSLY THAT CALCULATION UNDERSTAND HOW, YOU KNOW, I ASSUME ALL THIS LAND THAT'S BEEN DEVELOPED WAS DEVELOPED IN DIFFERENT WAYS. KIND OF SEE HOW COST WAS ALLOCATED TO THE DIFFERENT PARCELS THAT HAVE BEEN DEVELOPED. UM, JUST TO ENSURE THAT WE HAVE, YOU KNOW, IT'S NOT A THIRD PARTY, YOU KNOW, ARMS LENGTH TRANSACTION TO ENSURE THAT IT LOOKS LIKE ONE. SO SURE, YEAH. WE CAN PROVIDE, WE PROVIDE DOCUMENTATION, UH, YOU KNOW, WE'LL HAVE TO COMPILE THAT FOR THE P-D-H-C-A APPLICATION IN. OKAY, THANKS. WELL APPRECIATE THE TIME AND CONSIDERATION. MORE QUESTIONS. OKAY. MORE QUESTIONS, RIGHT? I'LL ENTERTAIN A MOTION DURING MOTION. I'LL LOOK. SUPPORT THE MENT. OKAY. SECOND. UH, SECOND IS, OKAY. DIRECTOR SADIE. ALRIGHT. TAKE A UH, RECORD VOTE. UH, DIRECTOR ALLEN, I IN FAVOR. DIRECTOR NAAR. DIRECTOR ACHI BULLAH. DIRECTOR MARSHALL C TREASURER. FAROH APPROVE. FAROH APPROVE. APPROVE. OKAY. DIRECTOR COLLINS APPROVE. DIRECTOR HINTON APPROVE. VICE PRESIDENT GARCIA APPROVE. DIRECTOR ELLIS APPROVE. PRESIDENT HEIN APPROVE. DIRECTOR ROBINSON APPROVE. DIRECTOR MOORE APPROVE. SECRETARY PAGE APPROVE DIRECTOR ZA APPROVE. OKAY, THAT MOTION CARRIES. WE'LL NOW MOVE ON TO, UM, THE NEXT ITEM IS AGENDA ITEM NUMBER NINE, ACTION ITEM RESOLUTION FOR WESTMORELAND TOWN HALLS, A MULTIFAMILY RESIDENTIAL DEVELOPMENT. BE LOCATED AT 6,600. SO WESTMORELAND ROAD, DALLAS, DALLAS COUNTY, TEXAS 7 5 2 3 7. UM, GO AHEAD AND I'LL OVER TO, UH, GENERAL MANAGER QUINTO. THANK YOU. UM, SO WE ARE BRINGING THIS PROJECT BACK. IT WAS APPROVED MENT LAST FALL, UH, PREVIOUS CYCLE, NOW DOWN THROUGH THE RINGER HERE. AND, UH, THEY ARE BRINGING US BACK FOR A MLU FOR A POSSIBLE PARTNERSHIP WITH THE DALLAS HFC. SO THEY'RE TRYING TO CLOSE HERE BY THE END OF THE YEAR. UH, AND WE HAVE OUR VENERABLE FRIEND LIKE HOPKINS HERE. WE CAN REFRESH OUR MEMORIES OF THE PROJECTS AND UH, GO THROUGH ANY DETAILS QUESTIONS. HI EVERYONE. UM, BLAKE HOPKINS ITIES. UM, AS AARON MENTIONED, THE STEEL CAME FOR YOU, I THINK ACTUALLY TWICE, 2 20, 23, A COUPLE TIMES. UM, TWICE FOR INANCE. UM, HAS TAKEN SOME TIME TO GET, UM, THIS PARTICULAR SITE. UM, YOU KNOW, WE'RE REALLY EXCITED ABOUT IT. FEEL LIKE IT'S A UNIQUE PRODUCT WORK SPACE. UM, THEY'RE ESSENTIALLY WEB TOWN STORY PROCEDURES, UM, AND IT'S ON 27 SITE, SO IT'S A LITTLE DIFFERENT FROM WHAT WE TOYOTA BUILDING SEVEN AND EIGHT PARCELS. UM, SO WE'RE EXCITED ABOUT IT. UH, SARAH MENTIONED IT WASN'T 30 LAST YEAR SPENT AND WENT IN AT THE BACK ON THE LOTTERY ON PURPOSE TO MAKE SURE WE DID GET FUNDED IN JANUARY AT THE CLOSE BY JULY. WE CAN GET THERE THE TIME EVENT REQUIRED OR SOME CHANGE, NOT SOME SP SO WE DID REQUIRE SP WENT THROUGH THAT PROCESS. SITE IS ZONE FOR TOWN HOMES. SITE IS DESIGNED TO FIT WITHIN THE BOX FOR TOWN HOMES. TOWN HOMES. ZONING DOESN'T PERMIT FOR THE RENTAL. THAT PROPOSED CASHBACK PROGRAM. SO THAT WAS FLAT. IT AS A SINGLE PROPERTY TREATED LIKE A MULTIFAMILY STUDY. BUT PRACTICE SCOPE, SUBDIVISION Q LOW UM, SO, OKAY. UM, AND SORRY, I JUMPED RIGHT IN. I KNOW WE PRESENTED A COUPLE TIMES ON THIS, BUT JUST BY WAY, BACKGROUND FROM LINCOLN AVENUE DANCE FOR FOLKS WHO LAST YEAR, UH, SO [01:15:01] YEAH, WE ARE A NATIONAL ORGANIZATION. WE'RE IN 30 STATES RIGHT NOW, 5,000. MY ROLE, THE ORGANIZATION IS STRICTLY WORK HERE, TEXAS, UH, BASED IN THE DUKE W METRO IN SAN ANTONIO, AUSTIN, FOCUSING PRIMARILY ON CLIMATE DESTRUCTION. AGAIN, JUST TO REFRESH YOUR MEMORY ON THE SITE ITSELF IS ON WEST WALNUT 500, UH, DISTRICT THREE, COUNCILMAN , UH, SITE. WE'RE, UH, POSING IT HAS SOME CHALLENGES IN TERMS OF COMPOSITION, IF YOU WILL, FROM OUR GEOTECH IT BECAUSE THERE'S A LOT OF LOCK THERE. UH, GIVEN THAT WE HAVE SO MUCH SITE WORK, SO IT'S SPREAD OUT, UM, THAT IS REALLY THE BIGGEST CHALLENGES ON THE DEVELOPMENT SIDE. UM, BUT WE DO FEEL LIKE WE'VE GOTTEN TO A PLACE WHERE SITE ITSELF, WE HAVE A GREAT PLAN IN PLACE TO, TO EXECUTE, UH, 260 TOTAL UNITS. ESSENTIALLY 108 FLEXES ALL IN ONE STORAGE, UH, SLOT. UM, YEAH, SO 2 16 12 UNITS, A HUNDRED PLEXES ALLY ABOUT PORCH HAVING INSIDE COMMUNITY, UH, SO PRIVATE BACKYARDS AS WELL AS YOU UNIQUE. YOU SEE THE LITTLE SPACE, UH, ALL ONE STORY. WE HAVE OUR TYPICAL SORT OF THCA, THE AMENITIES IN PACKAGE SWIMMING POOL, RESIDENT GARDEN FITNESS CENTER, CENTER STAND BUILDING. WE WILL HAVE UNIT LAUNDRY AVAILABLE, STEEL , UH, ENERGY TO OUR APPLIANCES. AND THEN PARTNERING COMMUNITY HOUSING RESOURCE PARTNERS TO PROVIDE SUPPORT SERVICES. AND THEN THIS SORT OF JUST LAYS OUT, IT'S PROBABLY PRETTY HARD TO SEE HERE, BUT SEE THE SITE PLAN ITSELF VERY UNIQUE, VERY, WE TYPICALLY SEE FROM A FAMILY TAX CREDIT TRANSACTIONS NEXT. UM, IT ALMOST LOOKS LIKE A SUBDIVISION, RIGHT? WHERE YOU'LL COME IN OFF OF WEST ONE, UH, AS PART OF THE SUP PROCESS THAT WAS APPROVED. THE CAN GATE SITES THAT WOULD BE SECURED, UH, DOING ALL OUR TAX CREDIT TRANSACTIONS. SO PERIMETER FENCING, CONTROLLED ACCESS, CASE METRIC PROPERTY, UH, AND WHAT'S IN THE PROPERTY BY CERTIFI SUB BETWEEN TOWNHOUSE FIELD TO SIDEWALK GRAB CASE, ALL IT WOULD BE ONE STORY. UM, AND THE MIX IS 171 BED, 99 2 BEDS, UH, A HUNDRED PERCENT OF THE MINUTES AT 60 7:00 AM I. UH, SO YOU COME THERE AND A COUPLE ITEMS THAT WE'VE TALKED ABOUT. UH, PICTURE HER, SHE WAS THE SIDEWALK ALONG THE FRONT AND THEN TRYING TO WORK THE GUARD ON THE, THE BUS STOP. THERE'S A BUS STOP DIRECTLY IN FRONT OF THE PROPERTY. IT IS LITERALLY JUST ASSIGNED TODAY. OBVIOUSLY GOOD OPPORTUNITY OUTTA CONSTRUCTION ON SITE TO TRY TO INCORPORATE THAT. MUST STOP THAT. SO, SO THAT HE COULD HELP TAKE SOME CONNECTIONS THAT WE TRY TO GET ON WITH INTO THE PROPERTY. UH, AND THEN JUST SORT OF FINDING THIS DEAL'S BEEN AROUND FOR TWO YEARS OR SO NOW. UM, SO WE HAVE DONE A SIGNIFICANT AMOUNT OF WORK ON IT. UM, TO GET TO THIS POINT, THE HEAVIEST LIFT WAS DEFINITELY THE SEP PROCESS, UH, THAT WITH CITY, UH, THAT HAS BEEN APPROVED AT THIS POINT AS OF AUGUST 27TH BY CITY COUNCIL. SUBMITTED OUR APPLICATION FOR THENO JUNE 20TH. WE WANNA MAKE SURE WE GOT THROUGH THE SUP PROCESS. , UH, I DID HEAR THIS MORNING FROM JASMINE THAT WE ARE LOOKING AT OCTOBER ON SEVENTH TODAY DATE. WE HOUSE, UH, TODAY AND THEN NOVEMBER 12TH DATES. THAT LOOKS IMPORTANT BECAUSE WE ARE ON BLOCK RIGHT NOW FOR BOND IN THIS , UH, I'M SORRY. OUR BOND RESERVATION HAVE RECEIVED THE BOND RESERVATION. WE HAVE AN OUTSIDE CLOSING DATE. UH, SO WE ARE ACTIVELY WORKING TO CLOSE THIS TRANSACTION, START DISRUPTION, UH, UH, AGAIN, WORKING ON FOR LAST TWO. SO, UM, BUT THAT, THAT'S SORT OF THE ANSWER QUESTIONS. IS IT 55 PLUS C3? YES. 55. OKAY. I THINK I ASKED THIS QUESTION BEFORE, I CAN'T REMEMBER THE ANSWER, BUT, UM, TO THE EAST, YOU'VE GOT THAT BOULDER PARK TRAIL AND THE MOUNTAIN BIKE STUFF. THERE'S, IS THERE A WAY TO GET LIKE, AFTER, UNFORTUNATELY IT'S HALF CONNECTED. WE TALKED TO COUNCIL. WELL, IT'S PUT ON THE LAND BETWEEN PARCELS. UM, YEAH, SO WE [01:20:01] NOT HAVE DIRECT, DOES THE CITY OF DALLAS OWN IT? SO HE'S PROBABLY OWNED THE CITY OF DALLAS OWNS A PORTION OF IT, BUT THEN THE REST OF IT IS JUST ALL BROKEN UP. I KNOW THIS, I GO THROUGH CHURCH, COME FORWARD, TRY TO ALL OF THAT LENS, MANY YEARS THROUGH MANY ITERATIONS TRYING TO ALL THAT THERE. ANYTHING BEYOND KIND OF THE BASIC CHARTS? NO, NOTHING OUT. NO. ION I THINK WE DO HAVE A, A THIRD, UH, SO , BUT DON'T NOW. A COUPLE OF TAKES AS WELL. JUST MAKE IT LITTLE BETTER. I MUCH JUST DEFERRED AFER. UH, I NOTICED IN, IN THE EQUITABLE WHAT WE HAVE HERE, UM, SOME OF YOUR DEVELOPMENT MENTALITY, YOUR EFFICIENCY AND SOME OF THE THINGS YOU'RE DOING TO LOWER THE COSTS, UM, UH, LIVING IN A SPOT, ARE YOU ALL PLANNING ON PUTTING SOLAR SOLAR NO LONGER? YEAH, LOOKED AT IT. THAT CREDIT IS GONE. SO HERE, GONE. OKAY. THERE'S UNFORTUNATELY JUST THERE NO, DO NO WAY TO, OKAY. IT WOULD, IT WOULD'VE BEEN A CHALLENGE. JUST SPREAD OUT. IT WAS RIGHT. BUT I WOULD SAY ACROSS OUR, BEEN OUTSIDE OF TEXT, SO, PARDON ANY OTHER, UH, QUESTIONS OR COMMENTS? I HAVE A COUPLE OF QUESTIONS ABOUT THE SITE PLAN. YES, GO AHEAD, . SO CAN YOU GO BACK TO THE PHOTO OF THE SITE PLAN PLEASE? OKAY. SO FOR ME, THESE TOWN HOMES FEEL LIKE THEY'RE PACKED IN A LITTLE TIGHT. CAN YOU TELL US ABOUT THE, UH, DRIVEWAY PARKING ACCESS AND ALSO THE GREEN SPACE? LIKE, ARE YOU GOING TO BE DOING TREE MITIGATION OR ARE YOU GONNA BE PAYING IN TO THE CITY'S REFORESTATION FUND? SO OUR ANTICIPATION IS THAT, AND, AND THE SITE IS DESIGNED TO MEET THE, THE TOWN HOMES TOO ZONE IN TERMS OF THE SEPARATION BETWEEN THE PROPERTY BUILDINGS AND, UH, LAYOUT PARKING AND ALL THAT. AND WE ARE WORKING TO REQUIREMENTS IN TERMS OF TREES FOR PARKING SPACES. UH, SO THE SITE PLAN SHOULD, IT'S CURRENTLY, YOU KNOW, GOING THROUGH THE PROCESS, IT SHOULD MEET ALL THE CITY OF DALLAS REQUIREMENTS FOR TOWER TWO. UM, IN TERMS OF THE, THE TREES THAT WILL BE INCLUDED, UH, ARE ANY FEE MITIGATIONS THAT ARE REQUIRED, BUT DISTINCT TREES, THAT DATA WILL BE MADE AS WELL. BUT THE ANTICIPATION IS THAT IT WILL MEET ALL THE REQUIREMENTS OF TOWN. SO YOU'RE DOING THE BARE MINIMUM IS WHAT YOU'RE SAYING? NO, THAT'S, THAT'S NOT WHAT I'M SAYING. I THINK, I THINK WE'RE SAYING IS WHAT WE'RE PROPOSING HERE IS IT FITS WITHIN THE BOX. UM, YOU KNOW, I I DON'T KNOW IF WE'RE NECESSARILY GOING ABOVE ON, UM, WHAT WOULD BE REQUIRED THERE IN TERMS OF THE SITE PLANNING. UH, WHAT'S SORT OF HOW THE SITE LAID OUT BASED ON A NUMBER OF FACTORS, TOPOGRAPHY, THE NEED TO KEEP CONDUCT TWO 16 SLOT, THE FACTORS. SO IS THERE LIKE ANY OPEN GREEN SPACE THAT THE RESIDENTS CAN WALK TO TO JUST BE OUTSIDE WITHOUT HAVING TO ACTUALLY GET ON THE TRAIL OR ANYTHING? YEAH, ALONG THE REAR OF THE PROPERTY. UM, THE SITE DESK SLOPED DOWN TO A CREEK IN THE REAR. UM, BUT THAT IS ALL PART OF THE PARCEL ITSELF ON THE NORTHEAST SIDE. UM, THAT AREA. IS THEY HAVING SOME SPACE THERE THAT WAS NOT ? AND YOU SAID THERE'S A SLOPE. IS THERE GONNA BE A SIDEWALK LEADING TO THAT AREA? UH, RIGHT NOW IN THE NORTH SIDE THERE'S A SIDEWALK ANTICIPATED, AND THEN ON THE NORTHWEST, UH, THERE'S SOME GREEN SPACE OPEN. UM, YOU CAN SEE A VERY NORTHERN OR NORTHWEST, THERE'S SIX UNITS THERE. THERE'S A GREEN SPACE STRETCH THERE. IT'S ACTUALLY PRETTY GOOD SIZE. IT'S 27%. IT'S PRETTY GOOD. MM-HMM . AND AS FAR AS PARKING, IT'S NOT REALLY CLEAR FOR ME. WHERE IS THE VISITOR PARKING? YES, FOR THE MAJORITY OF THESE TOWN HOMES ON THE RIGHT SIDE? YEAH. SO WE ARE OVER PARKED. I DON'T HAVE THE IN FRONT ACTUALLY. DID WE ARE WELL OVER PARKED. NOT QUITE WHAT MY QUESTION WAS, MY QUESTION WAS LIKE, WHERE EXACTLY IS IT? UH, ALL THOSE, THERE ARE PARKING SPACES IN FRONT OF YOU COVER THE UNITS. I DUNNO IF YOU CAN'T SEE IT ON THE ON, BUT IN FRONT OF THE UNITS THERE ARE, UH, SPACES, [01:25:01] RIGHT? HOW MANY CARS DOES THAT FIT IN FRONT? UH, WELL EACH, EACH UNIT PROBABLY HAS EACH POD, IF YOU WILL, OF TWO OR FOUR MINUTES. THERE'S PODS, SIX TO EIGHT PARKING SPACES. IT LOOKS LIKE YOU CAN TELL FROM THE PICTURE THAT THERE'S OFF STREET PARKING RIGHT IN FRONT TWO THEMSELVES. OKAY. UH, SAYS CREDITS ARE 95 CENTS. IS THAT TRUE? UH, NO. WE, WE HAVE PRICE 86. OKAY. I MIGHT BE OLD. I EXCEL. OH, SORRY. YEAH. UM, OR MAYBE I'M READING IT WRONG. I 80, I'M SORRY. THIS DEAL IS 8 8 5 7 5 AGAINST 86. OH YEAH, EIGHT FIVE. SO I APOLOGIZE. I WAS SAYING I I WISH WE WERE YEAH, I'M SURE YOU, YEAH, WE A TIME MACHINE BASICALLY OVER IT. YEAH, YOU WOULD FIND THAT YOU HAVE TO SAY NEXT TO US. FINISHED. ANY OTHER, UH, QUESTIONS OR COMMENTS? HEY, THIS IS, UH, DIRECTOR HINTON. MAYBE YOU'VE ALREADY COVERED THIS. HOW MANY ENTRANCE ENTRANCES ARE THERE TO THIS? THERE ARE TWO. SO THERE'S A MAIN ENTRANCE, UM, ACROSS FROM WHITBY, AND THEN THERE'S A, A SECONDARY ENTRANCE. UH, ARE THERE, WILL THERE BE ANY PLANS FOR ANY ADDITIONAL ENTRANCES OR IS IT GONNA BE THE ONLY TWO? THOSE WOULD BE THE ONLY TWO. WE'RE LANDLOCKED. UM, OKAY. SO EAST AND SOUTH. AND SO THOSE ARE REALLY OUR ONLY TWO OPPORTUNITIES. AND THEN THERE'S AN EASEMENT THAT IT'S HARD TO SEE ON HERE, BUT SOUTH OF THE NORTH ES EASEMENT. ANY OTHER QUESTIONS, ALEX? YEAH, IT, IT, IT LOOKS LIKE ON THE AERIAL THERE'S A CREEK THAT RUNS THROUGH THERE. WAS THERE ANY MITIGATION OR FOREMAN ENGINEER PERMITS NEEDED THERE OR IS THAT THERE'S A CREEK. CREEK, YES. YEAH, I'M SORRY. YEAH, SO THERE IS A CREEK IT RUNS. IT IS DIRECTLY TO THE NORTHEAST OF US. UM, AND THE SITE PLANNING, WE DID RECEIVE FEEDBACK, UM, TO PUSH UNITS AWAY FROM THE CREEK. ACTUALLY, THAT'S WHY THERE'S A GAP. YOU SEE SORT OF ON THE NORTH SIDE OF THE SITE, THERE'S WHAT, SIX UNITS ON VERY NORTH TIP AND THEN THERE'S A GAP, UH, CITY STAFF REQUEST, PROVIDE OFFER THERE. I AGREE. UM, THEY'RE NOT REQUIRED. I MEAN, FOR MODERATE, YOU KNOW, LITIGATION, EVERYTHING THAT WILL RUN THROUGH TO MODERATE VIEW, BUT NO SPECIFIC LITIGATION I FOR. OKAY. PROVIDE SEPARATE. GOT IT. OKAY. THANK YOU. ANY OTHER, UH, QUESTIONS OR COMMENTS? ALL RIGHT. UM, WE READ THIS ITEM INTO THE RECORD AND THEN WE'LL, UM, PROCEED TO, UH, ENTERTAIN A MOTION, A ACTION ITEM, UM, RESOLUTION FOR WESTMORELAND TOWN HOMES MULTIFAMILY RESIDENTIAL DEVELOPMENT. BE LOCATED AT 6,600 SOUTHWEST MORELAND ROAD, DALLAS, DALLAS COUNTY, TEXAS 7 5 2 3 7 A FIVE PART, UM, UH, MOTION A CONSIDER AND ADOPT A SOLUTION APPROVING A MEMORANDUM OF UNDERSTANDING WITH LINCOLN AVENUE ACQUISITION LLC. GREAT DESIGNATED AFFILIATE FOR THE ACQUISITION, FINANCING, DEVELOPMENT AND OPERATION OF WESTMORELAND TOWNHOUSES AND MULTI-FAMILY RESIDENTIAL DEVELOPMENT. B, CONSIDER AN ADOPT A RESOLUTION OF APPRO, THE CREATION OF A LIMITED LIABILITY COMPANY. THE THE CORPORATION IS SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED BHFC, WESTMORELAND, TOWNHOUSE GP, LLC, AND APPROVING THE FORM IN SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT IN THE EXECUTION THEREOF. C, CONSIDERING ADOPT A RESOLUTION APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY CORPORATION IN , TEXT THE SECRETARY OF STATE TO THE NAME OF DHFC, WESTMORELAND TOWNHOMES DEVELOPER LLC, AND APPROVING THE FORM IN SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF. D, CONSIDER AND ADOPT A RESOLUTION APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS A SOLE MEMBER WITH THE TEXAS SECRETARY OF STATION, NAMED DHFC, WESTMORELAND TOWN HOMES LANDOWNER, LLC, AND APPROVING THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY IN AGREEMENT AND THE EXECUTION THEREOF. AND E CONSIDER AND ADOPT A RESOLUTION [01:30:01] APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS THE SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED PHFC, WESTMORELAND TOWN'S CONTRACTOR, LLC, AND APPROVING THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT. ANY EXECUTION THEREOF THAT I'LL ENTERTAIN A MOTION. DO I HAVE MOTION? I'LL MOVE TO, UH, VOTE. OKAY. MOTION FROM, UH, DIRECTOR ELLIS. UH, THERE A SECOND. SECOND FROM, UH, SEC. UH, DIRECTOR ALLEN. UH, MOVE TO THE DIRECTOR TO VOTE. DIRECTOR ALLEN APPROVE. DIRECTOR NABI DIRECTOR EBOLA DIRECTOR MARSHALL C SIX TREASURER FAROH, DO NOT APPROVE. UM, DIRECTOR COLLINS, DO NOT APPROVE. DIRECTOR HINTON ABSTAIN. VICE PRESIDENT GARCIA APPROVE. DIRECTOR ELLIS APPROVE. PRESIDENT HEIN APPROVE. DIRECTOR ROBINSON APPROVE. DIRECTOR MOORE APPROVE. SECRETARY PAGE APPROVE DIRECTOR ZA APPROVE. OKAY, THAT MOTION CARRIES. UH, WE'LL MOVE ON THE NEXT ITEM. MS. THANK, THANK YOU FOR A PRESENTATION. UM, UM, NOW MOVING ON TO AGENDA ITEM 10. THIS IS ACTION ITEM RESOLUTION FOR TAYLOR VILLAGE, FORMERLY KNOWN AS BEARWOOD HILLS, A MULTI-FAMILY RESIDENTIAL VET TO BE LOCATED AT 6,200 BEBO DRIVE, DALLAS, DALLAS COUNTY, TEXAS 7 5 2 4 1. UH, GENERAL MANAGER, QUINTO. YES. SO THIS IS ANOTHER DEAL WITH, WE CAN ADD TO CAPITAL PASS THE PLACE YET. YES. SO, UH, SECOND SENIOR TRANSACTION, THIS ONE, STATE COUNCIL MEMBER BLAIR, UH, THIS SITE. UM, SO, SO THIS SITE, UM, IS A, UH, 20 ACRE SITE THAT HE'S TURN UP SO THAT IT'S HELPFUL FOR MULTIFAMILY, UH, OPPOSING ON THIS SITE. IT'S IN THE ZONING. THIS ONE IS NOT REQUIRED. SV IT'S NOT REQUIRED CCP, THERE'S NO ZONING VARIANCES OR VARIATION REQUIRED. IT'S EXACTLY INTO WHAT THE VISION FOR THE SITE. UM, THIS PARTICULAR PROPERTY WITH 229 SENIOR UNITS, UH, TWO STORES, UH, TWO ELEVATOR BUILDINGS. SO WE WALK OPERATORS IN AND TWO STORAGE STORE SEW. UM, THE SITE ITSELF, UM, IT, IT DOES, UH, HAVE CLOSE PROXIMITY, LIVE DIRECTLY ADJACENT TO IT, TO WEST, UH, STOPS AND DO ALL THAT HAS . UH, THERE IS, UH, AN STORE AS WELL AT THAT INTERSECTION. UH, THIS SITE, THIS DEALS WELL, UH, HAS RECEIVED ITS BOND ATION. IT'S ABOUT A MONTH BEHIND THE OTHER DEAL. , OH, SORRY. UM, IT'S OKAY. THIS, THE SITE WE'RE PROPOSING FITS WITHIN THE EXISTING ZONING. UH, WE HAVE CLOSED CONDITION CORRIDORS ON THIS IN, UM, TRASH ROOM, SCRATCH SHEETS. SO WE HAD TO TAKE THE TRASH OUT TO A, UH, DUMPSTER, UM, SMOKE POOL, RESIDENT GARDEN DUCT PARK WITHIN THE CENTER. BUILT INTO BUILDING A, UM, AGAIN OPERATING WITH LAUNDRY, PATIOS AND IES. SO APPLIANCES, UH, AND AGAIN, PARTNERING WITH, UH, RESOURCE PARTNERS TO PROVIDE SUPPORT SERVICES SITE. UH, THIS IS THE SITE PLAN. THESE ARE TWO STORY BUILDINGS WITH PITCH ROOFS. UM, SO THEY FIT WITH UNDERNEATH 36 FOOT MAXIMUM F TWO BUILDING. UM, HAVE GONE THROUGH REDEVELOPMENT PROCESS WITH THE CITY, TELL THAT WAS BEING PROPOSED FITS WITHIN THEIR TO STATE DEVELOPMENT STANDARDS. UM, WE ARE PRESERVING SIGNIFICANT AMOUNT OF TREE COVERAGE ON THE SOUTH SIDE OF THE SITE. BOTTOM PORTION OF THE PROPERTY. UH, THERE A CREEK THAT RUNS THROUGH THE VERY SOUTH OF THE SITE. UM, SO WE'RE ESSENTIALLY TREATING [01:35:01] THAT BOTTOM HALF, THE BOTTOM THIRD, IF YOU WILL'S ALSO UNTOUCHED STREET COVERAGE DOWN THERE, UM, WE HAVE PARKING KIND OF CIRCULATING AROUND THE PROPERTY SERVING THE BUILDING. UH, THIS SITE DOES REQUIRE ATTENTION BASIN, BOTH SOUTHEAST, UH, SHOWN ON, ON THE SITE. ONE COMMENT COUNCIL DID HAVE WAS SHE WANTED TO SEE A WALKTHROUGH ALONG THE SOUTH OF THE PROPERTY, PERHAPS BREAKING THE ATTENTION BASIS. THAT INCLUDED, UM, UH, AGAIN, THAT'S THE SITE FITS WITHIN KIND OF WHAT'S PERMITTED AT THE PROPERTY. SO THAT DETENTION BASE IS BECAUSE OF FLOODING ISSUES. UH, YEAH, EXACTLY. SO JUST, IT IS NOT GONNA FLOOD ZONE, BUT JUST WE HAVE TO TREAT ALL THE WATER THAT COMES ON SITE. UH, SO THE SITE REQUIRE, UH, BASE, LAST SITE DID NOT BECAUSE OF THEY FLOOD OR FLOAT TO. UM, THIS IS, UM, FOR AN ELEVATION OF BOTH SITE, IT'S TWO STORIES. KITCHEN FIELD FLAT AS WE SEE IN SOME PROPERTIES. YEAH. SO FOR THE PROGRAM FOR THIS SITE, 29 MINUTES, 97, 1 BED, 32 MIX IS, IS DIFFERENT FROM WHAT WE PRESENTED ON THE LAST DEVELOPMENT. UH, THIS ACTUALLY HAS SORT EXPECTING OF AFFORDABILITY, IF YOU WILL. UM, COUNCIL MEMBER BLA THINK BETTER THAN ONE PREVIOUS CONVERSATIONS WANTING TO SEE SORT OF SPREAD THAT IF YOU WILL. UM, AND SO WITH 15% AT 50% PAY BY 75% AT 60. AND THEN STAFF, CITY STAFF, WE WANTED TO SEE MAKES INCOME AND SO WE ARE INCLUDING 10% AT, SO THE CHALLENGE THERE, FINANCE SITES THAT THOSE 10 10 DO NOT COUNT TOWARDS OUR ULTIMATE BASIS TAX CREDITS. UM, TO BE CONSERVATIVE AND MAKE SURE WE'RE NOT GETTING OUT OUR SCHEME, WE ARE UNDERRATED MARKET RATE UNITS, 60%. SO THERE'S NO SPREAD IN THE, NOT ASSUMING SPREAD ON BECAUSE MARKET RATE. AND SO THEY HAVE THE ABILITY TO, TO RENT FOR WHEREVER THE MARKET RATE WILL. SO IF MARKET RATE GOES DEMAND 7% PERCENT MILE UNDERWRITING FOR UNDERWRITING PURPOSES, DON'T WANT TO ASSUME 7% 65. SO THESE ARE UNDERWRITING ESSAY THAT OUR INVESTOR START CAPTURE EQUITY INVESTORS WON. SEE SPREAD PERCENT. UM, SO WE CAN'T JUST SAY 87 I I CAN ADD A LITTLE MORE COLOR ON THAT MARKET RIGHT TO, IT WAS A RESPONSE TO THE FAIR HOUSING, UH, REVIEW. SO BEFORE THESE GET THE RESOLUTION OF NO OBJECTION FROM THE CITY, WE HAVE TO GO THROUGH A REVIEW BY THE FAIR HOUSING DEPARTMENT AT THE CITY AS WELL. SO THE ADMINISTRATOR REQUESTED THAT, YOU KNOW, THERE BE SOME MARKER SAID BECAUSE, UH, AGAIN, THIS IS AN AREA WHERE THERE'S SOME AFFORDABILITY, BUT THE FACT THAT IT'S A SENIOR FACILITY KIND OF GIVES IT A LITTLE BIT OF SEPARATION. YOU KNOW, THIS ISN'T AVAILABLE TO JUST ANYONE AND, UM, HAS AN EMERGING GROUP SENIORS, BUT THEY, THEY WANT TO SEE CONCENTRATIONS TO EXTENT POSSIBLE. JUST TO FOLLOW ON THAT, WE, YOU WERE WELL AWARE AREA, I GET THE NEXT QUESTION SIMILAR, SIMILAR TO THE LAST DEVELOPMENT. YEAH. SO THIS, THIS DEVELOPMENT DID NOT NEED TO GO THROUGH S OWN CP TWO PROCESS, WHICH THAT WAS FIVE, SIX MONTHS BY ITSELF ON THE LAST DEVELOPMENT. SO IT WAS ALMOST ABLE TO KIND OF JUMP UP AND CATCH UP TO THE OTHER DEVELOPMENT IN TERMS OF, UH, PERMITTING APPROVALS AT THE CITY LEVEL. UM, BUT WE HAVE CONFIRMED THAT THE SITE FITS WITHIN THE PERMIT NFT ZONE, UH, HAS SUBMITTED THE APPLICATION OBJECTION THAT ALSO DONE THE AGENDA FOR, UM, OCTOBER'S HOUSING 12TH CITY COUNCIL. UH, AND THIS WILL VOTE BY JANUARY. SO WE'RE MONTH BEHIND THE TRANSACTION. THE SAME EQUITY , SAME TAX CREDIT EQUITY INVESTOR, BOTH SAME CONSTRUCTION MAKES A MUCH EASIER, UH, GOING THROUGH THAT PROCESS. THIS, [01:40:01] ANY, UH, QUESTIONS OR COMMENTS THERE? HOW LONG HAS IT DEFERRED YOU ON THIS ONE SINCE WE'VE GOT THE THREE UNITS? SAME. WHAT IS MAD OUT? YES. ANY OTHER QUESTIONS, COMMENTS ONLINE? ALRIGHT, UM, HEARING NO MORE QUESTIONS OR COMMENTS, I'LL READ THE, UH, UH, RESOLUTION NOW. ENTERTAIN A MOTION. NEXT ITEM, RESOLUTION FOR TABOR VILLAGE, FORMALLY KNOWN AS BE HILLS, A MULTI-FAMILY RESIDENTIAL DEVELOPMENT TO BE LOCATED AT 6,200. BE DRIVE, DALLAS, TEXAS 7 5 2 4 1. THIS IS A FIVE PART, UH, RESOLUTION. A CONSIDER AN ADOPT, A RESOLUTION OF PROVING A MEMORANDUM OF UNDERSTANDING WITH LINCOLN AVENUE ACQUISITION LLC, OR A DESIGNATED AFFILIATE FOR THE ACQUISITION, FINANCING, DEVELOPMENT AND OPERATION OF AVER VILLAGE, FORMERLY KNOWN AS BEARMAN BILLS, A MULTI-FAMILY RESIDENTIAL DEVELOPMENT. B, CONSIDER AN ADOPT A RESOLUTION PROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION'S SOLE MEMBER WITH THE TEXAS SECRETARY OF STATELY NAMED DHFD, PAID BILLINGS GP, LLC AND APPROVING A FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION DURING THE C CONSIDERING ADOPT RESOLUTION, APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS A SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED DHFC, TABOR BILLINGS DEVELOPER LLC AND APPROVING THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT, ANY EXECUTION THEREOF. D CONSIDERING ADOPT AND RESOLUTION APPROVING THE CREATION, A LIMITED LIABILITY COMPANY WITH THE CORPORATION, THE SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED DHFC TAYLOR VILLAGE LANDOWNER, LLC IN APPROVING THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF. AND E CONSIDER AN ADOPTIVE RESOLUTION APPROVING INTEGRATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS THE SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE, THE NAME DHFC, TABER, VILLAGE CONTRACTOR LLC AND APPROVING THE FORM AND SUBSTANCE OF A LIMITED LIABILITY COMPANY AGREEMENT AND THE EXECUTION THEREOF. I HEAR A MOTION I MOVE TO APPROVE. OKAY. MOTION IS THERE A SECOND. SECOND. SECOND. OKAY, NOW, UM, PROCEED TO VOTE. DIRECTOR ALLEN APPROVE. DIRECTOR NOW DIRECTOR OLA. DIRECTOR MAC MARSHALL. C APPROVE TREASURER PHARAOH APPROVE. DIRECTOR COLLINS APPROVE. DIRECTOR HINTON APPROVE. VICE PRESIDENT GARCIA APPROVE. DIRECTOR ALICE APPROVE. PRESIDENT HEIN. PRESIDENT HEIN. OKAY. DIRECTOR ROBINSON APPROVE. DIRECTOR MOORE APPROVE SECRETARY PAGE APPROVE DIRECTOR'S 80. APPROVE. AND THAT MOTION CARRIES. NOW PROCEED TO THE NEXT ITEM, WHICH IS ITEM 11, REVIEW AND DISCUSSION OF THE DHFC, OCTOBER, 2025 TO DECEMBER, 2026 MEETING SCHEDULE. UM, I'LL TURN IT OVER TO GENERAL MANAGER QUINTO THINK MY UNDERSTANDING IS ONE OF THE THINGS WE WANNA DISCUSS TODAY IS HAVE HISTORICALLY HAD OUR MEETINGS ON TUESDAY, UM, DUE TO A REVISION IN TOMA. THE NOTICE PROVISION FOR, UM, UH, MEETINGS HAS BEEN, UH, NOW 72 HOURS FOR THREE STAY BUSINESS DAYS. OKAY. SO THERE'S A IMPLICATION NOW THAT YOU JUST GOTTA BE READY ONE DAY EARLIER WHAT WAS THROWN OUT IS THE IDEA OF POTENTIALLY CHANGING THE MEETING OF THURSDAY. I WAS CONCERNED ABOUT THIS BECAUSE I THINK, YOU KNOW, A LOT OF THE DIRECTORS, UM, AND PARTICIPANTS IN THESE MEETINGS ARE USED TO BE ON TUESDAY AND KIND THEIR HESITANT TO, UH, MOVE, YOU KNOW, ENDORSE MOVING IT, BUT, UH, GENERAL MANAGER KEITH, YOU YEAH. SO LIKE, UH, DIRECTOR PAGE SAID IF THERE WAS A SUGGESTION THROWN OUT, MAYBE IF WE MOVE TO THURSDAYS, WE COULD THEN POST OUR AGENDA ON MONDAY AND WE WOULDN'T HAVE TO BE POSTING IT THE WEDNESDAY BEFORE THE MEETING ON TUESDAY WITHIN ALMOST FOUR WEEK. UH, BUT IN, IN SOME OTHER CONVERSATIONS, IT JUST LOOKS LIKE IT'LL BE MUCH HARDER TO COORDINATE 15 THAN YOU GUYS ON A DIFFERENT DAY THAN IT WOULD BE IT JUST GET THINGS UP TWO OR THREE DAYS EARLIER. SO I THINK WE'RE FINE WITH JUST KEEPING IT AS IT IS UNLESS ELSE, SO YOU'RE JUST LOOKING FOR A SENSE FROM THE BOARD TODAY AS WELL. RIGHT? IT, IT WAS JUST A, A QUICK [01:45:01] DISCUSSION. I THINK WHAT WE HAD ON THE AGENDA, THERE WAS MORE, UH, MORE WEIGHT BEHIND IT, BUT NOW I TALKING MORE PEOPLE SEE LIKE, UH, IT'S JUST BETTER TO, TO REMAIN AS TRUE SCHEDULE. BUT INSTEAD OF COMING OUT WHAT FRIDAY? IT COMES OUT THE WEDNESDAY BEFORE THE WEDNESDAY BEFORE LET'S STILL MEET ON TUESDAY. YEAH. SELFISHLY SNEAKING OUT LIKE THE IDEA OF HAVING THE WEEKEND TO DO YOU AND THERE YOU GO. I SAY LET'S JUST GET OUR NO PARTNERS TO GET EVERYTHING IN EARLIER. YEAH. I MEAN THAT'S REALLY EXPECTATIONS, BUT THEY'RE ALL DONE A LITTLE UNFAIR. DO MIND RECOMMENDATIONS? WELL, ANY OTHER THOUGHTS? ANYBODY DYING TO MOVE TO THURSDAY? I COULDN'T DO THI AT ALL. YEAH, IT'S, THAT'S HARD. YEAH. THANKS. ALL RIGHT. DO YOU HAVE WHAT YOU NEED? UH, WE'RE GONNA DO NOTHING. OKAY. UM, AGENDA ITEM 12. WE ARE, UH, DEFERRING INTO THE NEXT MEETING. UM, NOW MOVE TO AGENDA ITEM 13, WHICH IS REVIEW OF DISCUSSION OF DHFC TREASURER'S REPORT FOR THE SEVEN MONTH PERIOD PENDING ON JULY 31ST, 2025. MR. QUINTO. YEAH, I KNOW WE'RE RUNNING ALONG. IS SHANNON STILL ONLINE? OH, THERE YOU ARE, SHANNON. YEP, I'M HERE. I'LL KEEP IT QUICK. UM, BASICALLY THIS IS FOR, UM, JULY 31ST. THE FIRST SEVEN MONTHS, UH, IT WAS A GREAT MONTH, OBVIOUSLY WITH THREE CLOSINGS OCCURRING IN JULY. YOU HAD A $1.6 MILLION INCREASE IN, UH, IN CASH DURING THIS PARTICULAR MONTH. THE TOTAL INCOME FOR THESE SEVEN MONTHS IS JUST OVER $6.1 MILLION, UM, AS COMPARED TO LESS THAN HALF THAT IN THE PRIOR YEAR. AND AS PART OF THAT, UM, DHFC YOU DID, AS Y'ALL ARE AWARE, YOU MADE THAT $1.5 MILLION SUBORDINATE LOAN, UM, TO, UH, WITH A MATURITY DATE OF SEPTEMBER, 2044. SO A NEW ASSET ON THE BOOKS, IT IS GONNA BE A LONG-TERM ASSET. YOU'VE GOT, UH, UH, THAT ON YOUR BOOKS NOW. UM, REALLY EXPENSES REMAIN VERY LOW. YOUR NET CHANGE IN FINANCIAL POSITION FOR THESE SEVEN MONTHS TOTALED $5,797,338. QUESTIONS? QUESTIONS? YOU READY? RIGHT. UH, THANK YOU. THAT WELL. ANYTHING ELSE YOU WANNA DISCUSS ON THAT? UH, SIR? NO, CERTAINLY. OKAY. THANK YOU VERY MUCH. APPRECIATE THE REPORT, UM, THAT WE'LL MOVE ON TO AGENDA. YOU'RE WELCOME. UH, 14 REVIEW AND DISCUSSION OF THE CORPORATION'S PIPELINE REPORT AS OF SEPTEMBER 9TH, 2025. MR. QUINTO. YES. SO NOTHING NEW HAS CLOSED. UH, ALTHOUGH WE HAVE ADDED A MAP TO OUR PIPELINE REPORT, YOU KNOW, SOMETHING THAT'S BEEN REQUEST, I THINK IT MAKES IT A LITTLE EASIER. I REALLY ENJOYED IT. I'LL, I'LL GIVE ALL THE CREDIT TO JACKIE. SHE'S THE ONE THAT DID THAT. WELL DONE. UM, YOU KNOW, WE, WE HAVE SEEN ON THE PDF, SOMEONE SAID THAT THE FONTS ARE THE HARD READ. WE'LL TRY TO FIGURE OUT HOW TO GET THOSE A LITTLE MORE LEGIBLE NEXT MONTH. BUT WE'RE GETTING THAT. IT'S NOT ON THE WEBSITE OR IS IT JUST INTERNAL? THERE IS A MAP ON THE WEBSITE, BUT IT'S, YOU COULD ZOOM IN NOW. PDF HARD TO GET EVERYTHING, ESPECIALLY LIKE NOW WE HAVE SUCH A WIDE AREA COVERING AND THEN ZOOM OUT AND THE THINGS THAT A COUPLE MILES AWAY NOW BECOME ONE DOT. SO WE'LL TRY TO FIGURE OUT HOW TO MAYBE GET BARREL POINT TO THAT. MAKE MORE LEGIBLE. ALRIGHT, THANK YOU MR. QUINTO. UM, THE, UH, WE'LL NOW MOVE TO AGENDA ITEM 15, UM, WHICH IS A REVIEW AND DISCUSSION OF THE SHARED SERVICES AGREEMENT BETWEEN THE CORPORATION, DALLAS PUBLIC FACILITY CORPORATION FOR MANAGEMENT, ADMINISTRATIVE, OPERATIONAL, AND OR OTHER SERVICES. UM, WE'RE GONNA BE GOING INTO EXECUTIVE SESSION FOR THIS AND I JUST WANNA POINT OUT TO ANYBODY THAT'S HERE, ONCE WE GO INTO EXECUTIVE SESSION, WE HAVE OUR DISCUSSION. EVERYBODY'S GONNA HAVE TO LEAVE FREE TO COME BACK AFTER THAT. BUT THE ONLY THING THAT'S GONNA HAPPEN AFTER THE EXECUTIVE SESSION IS COMPLETED, WE COME BACK INTO OPEN SESSION IS ADJOURNMENT. SO, UM, IF YOU WANNA STICK AROUND AND, YOU KNOW, WAIT OUTSIDE TO HAVE US COME BACK, UM, TO ADJOURN, UM, WE'LL, UM, WE MIGHT BE A LITTLE BIT OF DISCUSSION IN OPEN SESSION, SO, UH, UH, YOU [01:50:01] MAYBE YOU MIGHT WANNA STICK AROUND WITH THAT. BUT ANYWAY, THAT'S, THAT'S WHERE WE'RE GOING. UM, SO NOW WITH THAT, SAY, UH, IT IS 1:50 PM ON SEPTEMBER 9TH, 2025. DALLAS HOUSING FINANCE CORPORATION WILL NOW GO INTO CLOSE SESSION UNDER 5 5 1 1 0 7 4, THE TEXAS OPEN MEETING AT, ON THE FOLLOWING MATTER DESCRIBED ON TODAY'S AGENDA REVIEW A DISCUSSION OF THE SHARED SERVICES AGREEMENT BETWEEN THE CORPORATION AND DALLAS PUBLIC FACILITY CORPORATION FOR MANAGEMENT, ADMINISTRATIVE, OPERATIONAL, AND OR OTHER SERVICES, DELIBERATE THE EMPLOYMENT AND DUTIES OF THE GENERAL MANAGER. PATTY SAID THAT SHE, UH, GET OFF IT TOO. SO SHE, WHAT'S THAT PATTY, ARE WE SWITCHING CHATS OR ARE WE STAYING ON THIS ONE? I THINK THERE'S A TEAMS LINK FOR THE EXECUTIVE SESSION. THAT'S WHAT I WAS THINKING. ALRIGHT, THANK YOU. MM-HMM . * 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.