[00:00:01]
[Dallas Oak Cliff Gateway TIF District Board of Directors Meeting on January 6, 2025.]
OAK GATEWAY TIP BOARD MEETING TO ORDER ON JANUARY 6TH, 2026 AT 10:01 AM AND I'LL GO AHEAD AND TURN THE MEETING OVER TO OUR CHAIR.THANK YOU ALL FOR ATTENDING, UH, THE MEETING TODAY.
UM, WE, UH, JUST CALL THE MEETING TO ORDER, UH, ALSO FOR REVIEW AND CONSIDERATION OF THE, UM, UH, MEETING RECORD FROM DECEMBER 15TH FOR THE MEETING OF THE OAK CLIFF GATEWAY TIP BOARD OF DIRECTORS.
UM, CAN WE GET A MOTION FOR APPROVAL? SO MOVED.
AND WHO WAS THE SECOND? ALRIGHT, THANK YOU ERIC.
ALL IN FAVOR? ANY OPPOSED PASSES.
UH, WE ARE GOING TO, UH, GET INTO, UH, ITEM NUMBER FOUR, A REVIEW CONSIDERATION
LADIES GRAND AGREEMENT WITH SOUTHERN GATEWAY PUBLIC GREEN FOUNDATION IN A TOTAL AMOUNT NOT TO EXCEED $8 MILLION, INCLUDING UP TO $6,000,964, UH, $6,964,198 FROM THE OAK CLIFF GATEWAY, TIFF, UH, SUBSIDY AND AN ECONOMIC DEVELOPMENT GRANT OF $1,035,802 FROM THE 2012 GENERAL OBLIGATION BOND PROGRAM.
UM, PROPOSITION THREE, ECONOMIC DEVELOPMENT IN CONSIDERATION OF THE PHASE ONE PLAZA AREA PROJECT AT H HEALTH PRINT, UH, PARK SPANNING I 35 EAST, GENERALLY BETWEEN EWING AND MARCELLUS AVENUE.
MAYBE BEFORE WE GET INTO THE PRESENTATION, THE PERSONS WHO, WHO'S AT THE PHONE NUMBER TWO ONE FOUR FIVE.
AND THERE, THERE'S A COUPLE OF PHONE NUMBERS IF YOU COULD IDENTIFY YOURSELF, JUST SO WE HAVE YOU ON THE RECORD, SUE.
CAN YOU HEAR ME? THIS IS ORLANDO.
IS THIS OH, WHO IS THAT? ORLANDO.
I DON'T HAVE AUDIOS WITH WEBEX.
IS THERE ANYONE ELSE JOINING BY PHONE? OKAY, I THINK WE'RE ALL RIGHT THEN.
WE'RE, WE'RE OKAY ON THE TWO FIVE NUMBER TWO FIVE.
IS THERE ANYONE ELSE JOINING BY PHONE THAT CAN HEY, SUE, IT'S EDWIN CABS.
UM, THE BOARD RECEIVED SUMMARIES OUTLINING THE HELPER PARK PROJECT AND THE PERTINENT COMPONENTS OF THE GAP FUNDING PROPOSAL FROM THE SOUTHERN GATEWAY PUBLIC GREEN FOUNDATION.
UM, IN THAT HOPEFULLY THE FOUNDATION'S BOARD MEMBER, STAFF LEADERSHIP AND FUNDRAISING EFFORTS ARE EV EVIDENT.
ADDITIONALLY, YOU'VE PROBABLY SEEN SIGNIFICANT MEDIA COVERAGE THAT HAS CREATED MOMENTUM FOR THE SOMATIC NECK PARK, WHICH WILL BRIDGE COMMUNITIES IN SOUTHERN, IN THE SOUTHERN SECTOR.
SO, HOWEVER, I FELT COMPELLED TO UNDERSCORE AN ASPECT THAT MAY NOT BE TOP OF MIND FOR MANY.
AND THAT IS CAL PARK'S, NOT JUST A CITY PARK, IT'S A CITY ASSET.
SO IN THE SUMMARIES, YOU ALL GOT THE SUMMARIES.
UM, I WANT TO ACKNOWLEDGE THAT THE DEVELOPER, THE FOUNDATION TEAM ARE HERE, BOTH STAFF AND LEADERSHIP.
UM, I'LL JUST HIGHLIGHT SOME OF THE, THE SALIENT POINTS, SOME OF THE SALIENT POINTS IN THE, UH, PROJECT, AND THEN WE CAN OPEN IT UP FOR Q AND A.
YOU FAMILIAR WITH THAT ORDER MR. CARE? YES.
SO JUST A BRIEF OVERVIEW, OBVIOUSLY, UH, THE SOUTHERN GATEWAY PUBLIC FOUNDATION IS DELIVERING PHASE ONE POPCORN PARK, UH, A SIGNIFICANT PUBLIC PLAZA ABOVE I 35 EAST.
IN THE OAK OAKLAND GATEWAY TIP DISTRICT, PHASE ONE WILL COVER ING AVENUE TO, TO LAND CREEKS PASSER AVENUE.
UM, AS NOTED, THE FOUNDATION HAS RAISED THE SUBSTANTIAL AMOUNT OF MONEY, UM, INCLUDING MAJOR GIFTS AND NAMING RIGHTS.
UM, THE REMAINING 24 MILLION, UH, FUNDING GAP EXISTS, UH, FOR CONSTRUCTION COMPLETION AND STARTUP OPERATIONS.
AND THE FOUNDATION HAS, HOLD ON A SECOND.
SOMEBODY'S GETTING, WE'RE GETTING SOME ECHO FROM SOMEONE'S PHONE AND FROM OH THREE.
AND HOPEFULLY EVERYBODY CAN HEAR, UM, ANGELA,
[00:05:01]
IF NOT, IF SHE CAN TALK LOUDER.UM, THE BRIDGE FINANCING HAS ALLOWED CONSTRUCTION TO CONTINUE, BUT THERE IS A BALLOON PAYMENT THAT WILL COME DUE AT COMPLETION, WHICH CREATES A FINANCIAL RISK, UH, FOR THE FOUNDATION.
AND WE CERTAINLY DON'T WANT THAT FOR THE CITY ASSET.
UM, JUST SOME BRIEF NOTES ON THE ECONOMIC IMPACT.
UM, AN INDEPENDENT ANALYSIS, UH, SUGGESTED THAT THE PARK WILL DRAW TWO OVER 2 MILLION ANNUAL VISITORS, 24 NEW, UH, RESIDENTS WITHIN THE NEXT FIVE YEARS, NEARLY A BILLION DOLLARS IN ECONOMIC IMPACT, 325 MILLION IN RETAIL AND RESTAURANT SALES, AND 14 MILLION IN PROPERTY TAX REVENUE.
ANOTHER 6.5 TO 7.5 IN LOCAL SALES TAX REVENUE.
UM, THE PARK IS A CATALYST, UH, DEVELOPMENT.
UH, WE'RE ALREADY SEEING, UM, EVIDENCE OF THAT WITH THE ESTOCK DEVELOPMENT, WHICH IS A, A MAJOR ADAPTIVE FOR USE PROJECT.
UM, THE PROJECT ALIGNS WITH THE TIF DISTRICT PLAN.
UM, IT ADVANCES THE PLAN, PARTICULARLY WITH GOALS RELATED TO THE PARKS AND OPEN SPACE CONNECTIVITY AND PLACEMAKING AND CATALYTIC, UH, CATALYTIC ECONOMIC DEVELOPMENT.
THE REQUESTED PARTICIPATION IS WITHIN THE EXISTING, UH, BUDGET AS WELL.
THE TOTAL CITY, UM, PARTICIPATION, WHICH IS NOT TO EXCEED $8 MILLION, IS STRICTLY AS GAP FUNDING AS, UH, THE AGENDA SAYS, YOU KNOW, SIX POINT MILLION AND IT TO SUBSIDY FROM THE CLA BECKLEY KEYS, UH, SUBDISTRICT.
AND, UH, CLOSE TO ONE POINT, WELL, 1.04 MILLION, UH, FOR THE CHAPTER, UH, THREE 80 GRAND, 1 0 3 5 8 0 2 TO BE EXACT, THE FUNDS WILL BE REIMBURSED UPON SUBSTANTIAL COMPLETION, AND THE FUNDS ARE LIMITED TO CAPITALIZE COSTS ONLY.
AND I'LL JUST MENTION, YOU KNOW, THE ELEMENTS THAT ARE SUPPORTED BY, BY THIS, UH, TIP FUNDING.
UH, AND, UM, BOND FUNDING IS AN A DA ACCESSIBLE OAK CLIFF TRAIL BRANCH, WHICH IMPROVES ACCESS AND SAFETY.
THERE'S A 12TH STREET PROMENADE RECONNECTING THE STREET GRID, EITHER FIVE.
THERE'S COMPREHENSIVE LIGHTING PLAN, EMPHASIZING SAFETY, AGAIN, DISABILITY AND DESIGN QUALITY, AND OF COURSE, UTILITIES THAT ARE NECESSARY FOR APART FROM FUNCTIONALITY.
SO THAT'S, UH, ALL I HAVE THE HIGHLIGHTS THAT I HAVE.
UM, LET ME JUST MAKE NOTE, I SENT THIS OUT TO THE BOARD, BUT JUST SO WE HAVE IT ON RECORD, WE DID RECEIVE A SUPPORT LETTER FOR THIS REQUEST FROM PROXY PROPERTIES.
THAT LETTER WAS EMAILED NOT TO THE BOARD, BUT WE'LL HAVE IT ON RECORD 'CAUSE THE INDIVIDUAL WASN'T ABLE TO BE HERE IN PERSON.
AND SO, MR. CHAIR, SHOULD WE OPEN IT UP? QUESTION? YEAH, LET'S DO IT.
UM, LOVE TO HEAR FROM, UH, THE TEAM ON, ON THE PARK AND WHAT THIS MEANS AND WHAT THE HELP IT LOOKS LIKE.
WELL, THANK YOU SO MUCH FOR THE OPPORTUNITY.
I'M THE PRESIDENT AND CO OF SOUTHERN GATEWAY PUBLIC GREEN FOUNDATION.
WE'RE THE PRIVATE PARTNER BUILDING THIS PUBLIC PRIVATE PARTNERSHIP, UM, AND PROJECT WITH THE CITY.
AND, YOU KNOW, I MEAN, IN 2017 THIS WAS JUST AN IDEA.
SO IT'S EXCITING AND I MEAN, A DREAM.
AND IT'S REALLY THRILLING TO BE AT THIS POINT WHERE WE'RE LOOKING TO, UM, YOU KNOW, OPEN THE PARK IN THE COMING IN THIS YEAR.
SO, UM, WE'RE VERY APPRECIATIVE, YOU KNOW, UM, THE, THE CONSTRUCTION COSTS AND THE COST FOR THE PHASE ONE PARK, UM, WERE CERTAINLY MUCH LARGER THAN WE ANTICIPATED GIVEN INFLATION.
SO AT $122 MILLION, THAT'S SOMETHING THAT WE'VE WORKED REALLY HARD TO, UM, YOU KNOW, REALIZE.
BUT OF COURSE, WE DO STILL HAVE A GAP, UM, TO COMPLETE THIS CONSTRUCTION AND TO BE ABLE TO PAY OFF OUR, UM, CONTRACTORS AND, AND, YOU KNOW, WE ARE TRYING TO BE VERY MINDFUL OF HOW WE MANAGE OUR, OUR FUNDS AS WE GO GET TO CLOSER TO OPENING AND, YOU KNOW, TRY TO SUPPORT OPERATIONS.
WE'VE BEEN TALKING TO ECONOMIC DEVELOPMENT FOR A WHILE, UM, ON THIS, AND I KNOW THEY, UM, AND A LOT OF FOLKS WANTED TO KIND OF SEE US, UM, SORT OF, UH, PROVE OURSELVES AND, AND SEE THAT WE COULD REALLY MAKE THIS HAPPEN.
SO, UM, IT'S EXCITING TO BE AT THIS POINT WHERE WE'RE, YOU KNOW, AS I MENTIONED EARLIER, BEING, BEING MENTIONED IN THE NEW YORK TIMES TODAY ABOUT, UM, YOU KNOW, THE, THE UPCOMING PART.
UH, JUST CURIOUS WHAT, UM, YOU SAID IT, IT WAS OVER BUDGET.
UH, WHAT WAS, WHAT WERE SOME OF THE CAUSES OF THE OVERRUN? I MEAN, REALLY THE SIGNIFICANT CHANGE WAS INFLATION.
OUR, SO I, UH, FIVE YEARS AGO WHEN WE WERE LIKE LOOKING AT CONSTRUCTION S WHEN WE BUDGETED THE PARK, YOU KNOW, HAD THE INITIAL BUDGET FOR THE PARK, BUT OBVIOUSLY AS WE GOT CLOSER TO CONSTRUCTION, UM, TWO YEARS AGO, IT WAS SIGNIFICANTLY DIFFERENT.
AND I THINK THAT'S OBVIOUS INFLATION THEN REALLY ANYONE IN THE CONSTRUCTION INDUSTRY YOU CAN SPEAK TO, UM, SINCE COVID.
SO IT JUST WAS, WAS QUITE A BIT DIFFERENT IN OUR
[00:10:01]
COMBINATION OF LABOR REPORT FOR THE SERIES ALL, AND I, I'M THE CHAIRMAN, THE PROJECT, UH, THE, IF IT WAS ACTUALLY, UH, AVERAGE OVER THREE YEARS, 20% A YEAR FOR PUBLIC, UH, CONSTRUCTION PROJECTS, THAT WAS THE INFLATION RATE ON CONSTRUCTION.AND SO, UH, YOU KNOW THAT THAT'S REALLY SIGNIFICANT AND, UH, THAT IS BASICALLY WHERE BIG OR THE IMPACT WAS TO THE BUDGET.
IT WASN'T CAUSED BY THE DOWN CHANGES OR NO.
UM, AFTER THIS IS COMPLETE, UM, IS THERE PLANS FOR PHASE TWO? YEAH, THERE ARE.
AND IN FACT, UM, WE'VE BEEN WORKING HARD TO KIND OF SECURE PLANS FOR PHASE TWO AS WELL.
WE DO HAVE, UM, WHAT'S THE WORD
AND SO WE, THAT'S A COMBINATION OF FEDERAL, STATE, UM, A COMMITMENT FROM THE, UM, CITY'S LAST BOND PROGRAM.
UM, SO, AND THAT, THAT IS, THAT PROJECT SHOULD BE UNDERWAY.
YOUR SHORTLY TEXTILE HAS GOT THE GO AHEAD TO KIND OF START THE DESIGN OF THAT PHASE TWO PARK.
AND, AND THAT GOES FROM EXISTING TO WHAT MAR MARLI.
SO WE'LL TAKE, TAKE IT FROM THE MID TO MARLI.
UM, FOR THE MAINTENANCE OF THE PARK.
UM, HOW DO YOU PLAN ON HANDLING THE ONGOING COSTS TO RUN THE PARK? UH, HOW WOULD THAT PLAN BE LIKE? YEAH, I MEAN THAT'S A MODEL THAT WE HAVE.
YOU, YOU KNOW, OTHER EXAMPLES IN THE CITY OF HOW WE CAN KIND OF MAKE THAT HAPPEN.
IT'S A COMBINATION OF, OF, UM, DRIVING REVENUE FROM, UM, HOPEFULLY FOOD AND BEVERAGE SALES AND EVENTS.
AND WE'RE, WE'RE HOPEFUL THAT WE CAN ACTUALLY DRIVE SOME SIGNIFICANT, UM, EVENT REVENUE, LIKE TRYING, RENTING OUT SPACES IN THE PARK.
THAT'S A LESSON THAT WE LEARNED FROM OUR FRIENDS, UM, AT OTHER PARKS IN THE CITY, THAT IT IS BENEFICIAL TO HAVE PLACES THAT YOU CAN, YOU KNOW, HOST CORPORATE EVENTS AND THINGS LIKE THAT.
SO WE DO HAVE KIND OF MULTIPLE SPACES IN THE PARK THAT CAN BE USED WHILE THE REST OF THE PARK IS STILL, THE PARK IS STILL OPEN TO THE PUBLIC.
SO I THINK THAT WOULD BE EXCITING.
UM, BUT THEN WE WILL, WE WILL CONTINUE TO HAVE A PHILANTHROPIC RAISE.
AND SO WE'RE AGAIN, JUST TRYING TO MITIGATE, WHICH IS POSSIBLE.
WHEN YOU ANTICIPATE THAT, WHAT KIND OF PROGRAM DO YOU FORESEE? WE'RE WORKING THROUGH THAT RIGHT NOW.
WE, WE HAVE, UM, WHAT WE CALL OUR COMMUNITY FIRST PLAN, WHICH IS THE PLAN THAT WE, WHAT I WAS ABOUT TO ASK YEAH.
SO, YOU KNOW, I MEAN, BUT IDEA FOR THIS PART CAME FROM COMMUNITY MEMBERS.
SO IT REALLY HAS BEEN ROOTED IN THE COMMUNITY FROM THE START.
AND WE SPENT A YEAR BUILDING OUR COMMUNITY FIRST PLAN WITH NEIGHBORS FROM BOTH SIDES OF THE, THE, THE FREEWAY.
SO IT'S FRAMED IN SIX WAYS, YOU KNOW, HISTORY AND CULTURE.
HOW DO WE REFLECT THE HISTORY AND CULTURE, BOTH THE PARK, HOW DO WE, UM, REALLY INTEGRATE OUR PROGRAMMING WITH THE SCHOOLS THAT SURROUND US AND REALLY MAKE IT A PLACE WHERE WE CAN EXTEND EDUCATION.
HOW DO WE MITIGATE SOME OF THE HEALTH AND WELLNESS DISPARITIES THAT EXIST IN OAK CLIFF AROUND THE PARK AND USE THE PARK FOR THAT.
SO WE GO BEYOND THINGS LIKE YOGA AND, YOU KNOW, EXERCISE, BUT TO THINGS LIKE, CAN WE BRING A MOBILE HEALTH CLINIC TO THE PARK? SO REALLY MEETING PEOPLE WHERE THEY ARE.
SO THAT'S A, A, A CRITICAL COMPONENT AND OUR PROGRAMMING.
SO WE'RE IN THE MIDST OF KIND OF BUILDING OUT WHAT THAT PROGRAMMING LOOKS LIKE FOR THE, UM, OPENING IN FIRST YEAR OF THE PARK.
AND THAT ALL IS BEING INFORMED BY THE COMMUNITY FIRST PLANS.
UM, UM, I'M CURIOUS, UH, ON THESE ECONOMIC IMPACT ANALYSIS THAT WAS COMPLETED BY UNT, UM, WHEN WAS THAT DONE? WHAT, WHAT, WHAT'S THE DATE OF THAT? AROUND THE 40, I THINK IT WAS 2021.
DID IT A LITTLE BIT, A LITTLE BIT STALE.
UH, 'CAUSE I'M CURIOUS, UH, IN THAT WE HAVE A DECK PARK ALREADY IN PLACE THAT SHOULD INFORM TO A CERTAIN EXTENT, UM, THE ECONOMIC IMPACT NUMBERS AND ABSOLUTELY.
AND THEY ACTUALLY, UM, SO IS THERE ANY, DO WE HAVE ANYTHING THAT SHOWS US THAT CLOUD WARREN HAS GENERATED NUMBERS THAT ARE CONSISTENT WITH WHAT UNT PROPOSES? I KNOW THEY'RE COMPLETELY DIFFERENT PROJECTS, BUT IT SEEMS LIKE THERE OUGHT TO BE, THERE OUGHT TO BE SOME, SOME WAY TO, TO USE THE CLYDE WARREN EXPERIENCE TO SEE WHETHER OR NOT THESE ARE ACTUALLY, UH, REACHABLE NUMBERS.
BECAUSE 325 MILLION IN, IN RETAIL AND ITS RESTAURANT SEEM IN FIVE YEARS SEEMS TO BE A PRETTY AGGRESSIVE NUMBER.
SO, I MEAN, YOU MAY BE ABLE TO SPEAK TO THIS.
[00:15:01]
PROBABLY HAVE A COPY OF THE STUDY THAT WE'D BE HAPPY TO PASS ALONG.I WILL SAY THAT, YOU KNOW, THEY SHOULD HAVE BEEN COGNIZANT THAT THE SITE IS DIFFERENT.
'CAUSE YOU KNOW, CLYDE WARREN IS BY A BUNCH OF DOWNTOWN HIGH RISES, WHEREAS YEAH, THIS IS, YOU KNOW, AT LEAST PARTIALLY IN A MORE NEIGHBORHOOD SETTING.
SO THERE NEEDED TO BE A, A MORE NUANCED KIND OF APPROACH TO THE NUMBERS.
AND, AND JUST TO SPEAK TO THAT, THEY ABSOLUTELY DID DO THAT.
SO WE HAD, UM, CLYDE WARREN'S ECONOMIC IMPACT, UM, STUDIES AS A BASIS, UM, WHEN UT DALLAS DID THIS STUDY.
UM, I BELIEVE CLYBURN TO, TO DATE IS UP TO 4 BILLION.
IT'S SIX, 6 BILLION IN ECONOMIC.
SOME DON'T QUOTE ME, WE CAN ASK FOLKS CLYBURN, BUT THEY CERTAINLY ARE SPEAKING ABOUT, YOU KNOW, IN THE 10 YEARS SINCE THE PARK'S BEEN OPEN, IT'S SOMEWHERE BETWEEN FOUR AND 6 BILLION IN ECONOMIC IMPACT.
AND SO OBVIOUSLY, BECAUSE IT IS A DIFFERENT CONTEXT AROUND OUR PARK, YOU KNOW, WE'RE NOT IN THE MIDDLE OF A CENTRAL BUSINESS DENTURE.
UM, WE DIDN'T, WE DON'T EXPECT TO HAVE THAT SAME IMPACT, BUT CERTAINLY IT CAN BE SIGNIFICANT GIVEN WHERE WE ARE.
AND I THINK GIVEN WHERE OUR STARTING POINT IS, SO YES, THEY DID, UM, USE CLYDE WARREN'S EXPERIENCE AS A PRECEDENT FOR ECONOMIC DEVELOPMENT, UM, ADJUSTING FOR OUR LOCAL CONTEXT.
AND WE CAN SHARE THAT STUDY WITH YOU.
SO SUE, UH, THIS IS TOM AGAIN.
COULD YOU, UM, JUST, JUST KIND OF IN SUMMARY FASHION, TELL US EXACTLY WHAT'S BEING REQUESTED HERE.
I MEAN, THERE'S, WHEN WE SAY GAP FUNDING, UM, I, I THINK I'VE, I'VE HEARD THE WORD GRANT, WHICH MEANS I THINK GRANTS MEANS THEY'RE NOT PAID BACK.
UM, BUT I THINK I'VE, YEAH, LET ME, LET ME JUST EXPLAIN THAT A LITTLE BIT.
'CAUSE PART OF WHAT MAKES THIS COMPLICATED IS THAT, UM, WE WENT AHEAD AND INCLUDED, UM, THE MAYOR'S 2012 BOND FUNDS IN THIS PRESENTATION.
UM, TECHNICALLY THE TIF BOARD DOESN'T HAVE JURISDICTION OVER THE MAYOR'S DISCRETIONARY BOND FUNDS, BUT WE WANTED TO PRESENT THE FULL PICTURE BECAUSE THOSE 2012 BOND FUNDS WERE PART OF A PROPOSITION FOR ECONOMIC DEVELOPMENT.
IT NEEDS TO BE STRUCTURED AS A, HOWEVER, IT'S STILL BEING USED TO FOR CAPITAL COSTS.
SO IT'S NOT, UM, IT'S NOT GENERAL GAP FINANCING, LIKE THIS WOULD BE LIKE A VERTICAL DEVELOPMENT PROJECT.
IT'S ACTUALLY STILL PAYING FOR CAPITAL COSTS.
IT'S JUST MORE OF A, UM, AN INSTRUMENT FOR HOW WE STRUCTURE PROVIDING THE 2012 BOND FUNDS BECAUSE OF THE NATURE OF THE PROPOSITION.
UM, AND THEN, SO WE ARE BASICALLY BUNDLING THOSE DISCRETIONARY BOND FUNDS FUNDS ALONG WITH TIF FUNDING UP TO 6.9 MILLION TOGETHER IN THE SAME AGREEMENT.
BUT, UM, ALL OF THOSE FUNDS WILL BE PAYING FOR CAPITAL COSTS, THOSE IMPROVEMENTS THAT ARE OUTLINED IN THE SUMMARY.
SO THE, SO I UNDERSTAND THE SOURCE OF THE FUNDS FROM THE MAYOR'S BOND PROGRAM AND THE, THE, THE BALANCE OF THAT'S GONNA BE FROM TIFF FUNDS, RIGHT? CORRECT.
AND THOSE, THOSE, SO THEY, THEY WON'T NECESS, THEY WON'T BE REPAID TO THE TIFF.
THEY WILL BE BASED ON ACTUAL COSTS.
SO WE WILL, UM, WHEN THEY'RE DONE WITH CONSTRUCTION, THEY'LL NEED TO PROVIDE, UM, EVIDENCE OF WHAT WAS SPENT FOR THOSE DIFFERENT ITEMS, THE PROMENADE, UM, YOU KNOW, THE LIGHTING, AND WE WILL PAY BASED ON ACTUAL COSTS FROM DOCUMENTED EXPENDITURES.
SO THAT'S WHY IT'S AN UP TO AMOUNT.
I'M NOT SAYING I HEARD A SHORTFALL OF LIKE $24 MILLION, BUT THIS MEETING TODAY IS ONLY ADDRESSING NINTH $8 MILLION.
THAT $16 MILLION THERE ADDRESS THAT AT, AND THAT'S MY, MY FULL-TIME JOB.
SO THAT'S WHAT I WORK HARD TO IDENTIFY.
WE'VE GOT SEVERAL, UM, LARGE DONORS THAT WE, UM, FEEL VERY CONFIDENT ABOUT.
BUT YEAH, THAT IS WHAT WE'RE WORKING TO, WE'RE WORKING TO CLOSE THAT GAP AS WELL.
IS, UM, YOU TALKED ABOUT THE SECOND PHASE OF THE PROJECT.
UH, IS THAT GOING TO RUN INTO POTENTIAL FUNDING ISSUES AS WELL? WELL, THE, THE CAP, THE INFRASTRUCTURE OVER THE FREEWAY HAS ALREADY GOT $80 MILLION COMMITTED TO IT.
WE WON'T KNOW WHAT THE FINAL COST OF ALL THAT IS UNTIL THEY'VE, YOU KNOW, TO IT OUT, ET
[00:20:01]
CETERA.SO, UM, AND IT'S, IT'S, IT'S A FEW YEARS OUT ON THAT IN TERMS OF, UM, THE DESIGN AND ENGINEERING PROCESS WITH
SO, UM, YOU KNOW, THAT'S WHAT WE'LL CONTINUE, WE'LL CONTINUE TO WORK TOWARDS THAT, BUT THERE WILL BE A PRIVATE COMPONENT THERE AS WELL, LIKE THAT OUR FOUNDATION WILL BE RESPONSIBLE FOR, UM, MEETING AND, AND, YOU KNOW, WE'LL, WE'LL COME BACK IF THERE'S A GAP IN THAT ONE, BUT HOPEFULLY WE'LL BE ABLE TO CLOSE THAT.
IF, UM, AS TOM HAD MENTIONED, THE, UH, INCOME SIDE OR THE REVENUE GENERATING SIDE OF THE MARK, IF IT DOESN'T MEET EXPECTATIONS, UM, UM, WHAT DID, DO YOU GUYS HAVE A PLAN ON HOW TO HANDLE THAT? UH, IT'S GONNA BE PRIMARILY FUNDRAISING.
I MEAN, AND THAT'S THE WAY THAT MOST OF THESE PUBLIC PRIVATE PROJECTS ARE, ARE, UM, SUCCEEDING.
SO, YOU KNOW, CLYDE WARD PARK STARTED AND, AND THERE'S A RAMP UP PERIOD, RIGHT? SO I THINK IN THE BEGINNING, UM, UH, YOU MIGHT BE MORE RELIANT ON PHILANTHROPY, AND THEN AS YOU RAMP UP TO FULL, YOU KNOW, FULL SPEED, FULL OPERATIONS, YOU'VE GOT YOUR EVENTS, YOUR, YOUR FOOD AND BEVERAGE COMING, THEN YOU CAN EXPECT THAT RATIO TO KIND OF START TO SHIFT.
BUT, UM, I'VE, WE'VE HIRED, AND UNFORTUNATELY COULDN'T BE HERE TODAY AT THE WORLD CLASS.
CHIEF OPERATING OFFICER, WHO KNOWS, UH, HAS 30 YEARS OF EXPERIENCE RUNNING SPACES LIKE THIS, BOTH ON THE FOR-PROFIT SIDE AND THE NON-PROFIT SIDE.
SO HE CAME FROM, UM, THE SORT OF ORLANDO SEA WORLD AND A FOR-PROFIT SPACE, ALSO RAN OPERATIONS FOR THE HOUSTON ZOO, THE GATHERING PLACE IN TULSA.
AND THEN HE WAS MOST RECENTLY IN ABU DHABI LEADING PROJECTS OVER THERE.
SO WE HAVE SOMEONE WHO REALLY KNOWS HOW TO MAKE THIS A SUCCESS, AND THAT'S BEEN ON OUR, OUR CHARGES TO REALLY EXCEED PEOPLE'S EXPECTATIONS, ESPECIALLY GIVEN WHERE WE ARE
UH, I LOVED, UH, THE ROYAL OR GOT FINISHED WITH THE ROYAL CHAIRMAN OF THE ZOO EVER BEING 30 YEARS MEMBER, UH, IN 2015 AND STEPPED INTO THIS PROJECT ESSENTIALLY ON THE ZOO SIDE OF IT.
AND HOR PARK, I THINK IS ABOUT A MILLION A YEAR OR SOMETHING LIKE THAT.
AND RIGHT NOW, BEFORE THE PARK OPENS, THERE'S A MILLION PEOPLE THAT ARE COMING.
AS I SAID, THE PARKING IS CLOSER TO OUR PARK THAN ARE JUST TO THE ENTRANCE OF THE ZOO.
UH, BUT A MILLION PEOPLE HERE ALREADY COMING TO, TO THE CORNER OUR, THAT OUR PARK IS ON, AND THE, AND THE ZOO IS ON.
SO, UH, WE, WE FEEL REALLY GOOD ABOUT THE NUMBERS.
WE HAVE ESTIMATED THE ZOO ESTIMATED A NUMBER OF YEARS AGO, AND THIS WAS ALL STARTING THAT THEY COULD DOUBLE THEIR ATTENDANCE, YOU KNOW, WITHIN FIVE TO SEVEN YEARS AFTER THE PARK OPENS FOR, FOR A LOT OF DIFFERENT REASONS.
IT HAVE TO DO WITH HOW LONG YOU CAPTURE PEOPLE, YOU KNOW, IN THE AREA, NOT A HAPPY DAY EXPERIENCE AT THE ZOO AND THAT TYPE OF THING.
SO WE FELT REALLY GOOD ABOUT THE, THE NUMBERS, UH, OF, OF PEOPLE THAT WE'RE GONNA BE ABLE TO DRAW AND, YOU KNOW, FOOD AND BEVERAGE AND, UH, YOU KNOW, EVENTS AND ALL THOSE KIND OF THINGS.
WE FELT REALLY GOOD ABOUT THAT.
LOOKING AT WHAT CLIVE WARN HAS DONE AND KNOWING THAT WE START WITH MAIN PEOPLE LOOKING FOR AN ENTERTAINMENT EXPERIENCE THAT THEY DIDN'T HAVE WHEN THEY STARTED UP.
DID, DID YOU GUYS HAVE ANY LEARNING, UH, FROM CLYDE WARN PARK THAT WAS ADJUSTED INTO THE PLAN SERVICE? ABSOLUTELY.
I MEAN, I THINK THE, THE DESIGN, OUR DESIGN INCORPORATES, LIKE I MENTIONED, SPACE FOR EVENTS.
AND THAT IS SOMETHING THAT IS A CHALLENGE FOR, UM, FOR
SO THAT'S DEFINITELY A LEARNING AS MIKE LIKE TO SAY, WE WANTED TO MAKE OUR OWN MISTAKES, NOT THEIR MISTAKES.
SO THEY'VE BEEN, THEY'VE BEEN VERY, VERY GRACIOUS IN SHARING LESSONS STARTED WITH US.
UM, WE ACTUALLY SHARE A PROJECT MANAGER, UM, WITH CL ORANGE, UM, PERSON WHO SORT OF HELP THEM BUILD CL AWARENESS IS OUR PROJECT MANAGER ON THE CONSTRUCTION SIDE.
SO, UM, NO, THEY'VE BEEN, THAT'S JUST, THERE ARE, WELL Y'ALL COME OUT TO VISIT SOON.
UH, GET SO EXPERIENCE IF I WANT TO IS SPECIAL AND SOME WAY, BUT, YOU KNOW, I THINK WE REALLY REPRESENT OAK CLIFF AND THE COMMUNITY, SO LOOK FORWARD TO HAVING YOU VISIT.
ANY, HEY, SUE, ARE, ARE THESE FUNDS, UH, BEING ALLOCATED FROM THAT CLAREDON, BECKLEY, SUBDISTRICT, ARE THERE ANY SETASIDE OR ANY OTHER, WHERE ARE THE ALLOCATIONS FOR THESE FUNDS COMING FROM? YEAH, IT, IT'S A COMBINATION.
WE'RE, UM, LOOKING AT DISTRICTWIDE SETASIDE AS WELL AS, UM, A PORTION OF THE CLARET AND BECKLEY KEYS, UM, SUBDISTRICT FUNDS THAT ARE CURRENTLY UNALLOCATED.
SO WE'VE ALREADY EARMARKED WHAT WE NEED TO PAY ESTOCK.
AND SO THIS, WHICH HAPPENED TO, UM, CURRENTLY UNALLOCATED FUNDS IN THAT SUBDISTRICT AS WELL AS, UH, DISTRICT WIDE SETASIDE FUNDS.
[00:25:01]
SUE, WHAT DOES THIS DO IN TERMS OF, UH, UH, COMMITTING OR ABSORBING THE AVAILABLE FUNDS FOR OTHER PROJECTS FOR THE TIFF DISTRICT? IS IT, UM, I MEAN, YOU UNDERSTAND MY QUESTION OR ARE WE YES, YES.SO, UM, BASICALLY THIS WOULD, UM, ABSORB THE DISTRICT-WIDE SET ASIDE THIS YEAR AND PROBABLY NEXT YEAR.
UM, IN TERMS OF THE CLARET AND BECKLEY KEAST, OUR ESTIMATION IS THAT EVEN WITH THIS COMMITMENT BY THE SUMMER, THERE WOULD PROBABLY STILL BE ABOUT A MILLION DOLLARS AVAILABLE IN THAT SUBDISTRICT.
UM, THIS DOES NOT IMPACT, UM, ANY OF THE ALLOCATIONS TOWARDS, UM, UH, THE OAK OAKLAND SUBDISTRICT AND THE BISHOP JEFFERSON SUBDISTRICT TERMS OF WHAT DEVELOPERS CAN ACCESS.
'CAUSE THAT'S SORT OF ITS OWN BUCKET OF FUNDING.
SO THERE'S STILL PLENTY OF CAPACITY.
UM, JUST IN THE SHORT RUN, IT WILL, UM, IT'LL UTILIZE ALL THE DISTRICT WIDE SET ASIDE AND A PORTION OF, UM, THE DECLARED BECKLEY SUBDISTRICT.
ANY FURTHER COMMENTS OR QUESTIONS? YES.
THIS IS BASICALLY A LOAN INTEREST FREE, BUT WHEN DO WE EXPECT IT TO BE PAID BACK? UM, WE'RE ANTICIPATING THAT, UM, YOU KNOW, AND AGAIN, WE, WE WON'T MAKE THE PAYMENT UNTIL EVERYTHING'S COMPLETED, BUT ASSUMING EVERYTHING IS COMPLETED IN THE SPRING, WE WOULD ANTICIPATE BEING ABLE TO FULLY PAY THIS, UM, THIS SUMMER THAT WE'D HAVE ALL THE AVAILABLE FUNDS BY THE SUMMER.
AND THOSE FUNDS COME FROM DONATIONS? OH, IN TERMS OF OUR COMMITMENT, THAT WOULD BE BY THE SUMMER, BUT I CAN'T, I'LL LET APRIL ANSWER ANY, UM, BEYOND OUR FUNDING, LIKE IN TERMS OF HOW YOU WOULD ADDRESS GAPS.
YEAH, I MEAN, WE'RE, WE'RE CONTINUING TO WORK TO CLOSE THE GAP.
WE HAVE SEVERAL OUTSTANDING REQUESTS OUT THERE AND, AND OTHERS THAT REALLY OUR, OUR PIPELINE SHOULD, UM, HELP US CLOSE THAT GAP.
SO THAT'S, IT'S WITH THE HELP OF, OF, YOU KNOW,
WOULD Y'ALL HAVE ANY PEOPLE, JUST THANK YOU FOR YOUR CONSIDERATION.
WE APPRECIATE, UM, WORKING TEAM AND ECONOMIC DEVELOPMENT, ANGELA AND SUE AND KEVIN.
UM, AND AGAIN, WE'RE THRILLED TO BE BRINGING THIS PROJECT TO OUR CITY, BOTH FOR WHAT IT CAN MEAN FOR OUR COMMUNITY, WHICH WE ALL LIVE IN AND CARE STRONG A LOT ABOUT, BUT ALSO, YOU KNOW, THE ECONOMIC DEVELOPMENT THAT WE'RE ALREADY SEEING, UM, TAKE PLACE AS A RESULT OF THE PARK FROM PROJECTS THAT ARE BEING INVESTED IN AND AROUND THE, THE, UH, THE AREA.
SO, CAN I GET, SO, UM, I'VE BEEN WORKING ON WOOD, UH, CALIFORNIA NEWS,
MOVED OUT, UH, TO, UH, DESOTO FOR 10 YEARS IN SIERRA, BUT RIGHT ON THE BEING A QUARTER OF A MILE FROM THE SOUTHERN DALLAS BORDER.
MY KIDS ALL WENT TO SCHOOL IN OAK CLIFF AT ST.
UH, AND, AND I'VE BEEN INVOLVED IN A NUMBER OF MY PROJECTS.
I'M KIND OF CULMINATING WITH, I BELIEVE THIS ONE AS FAR AS MAKING A DRAMATIC IMPACT.
I MEAN, THIS IS A STATEMENT, BUT IT IS SOMETHING THAT, UH, AND I THINK IT IS ACCURATE.
IT'S, UH, SIX, 6 BILLION AT LEAST ON GLENBURN PARK, UH, DEVELOPMENT AROUND IT AND THINGS LIKE THAT.
I, I THINK THIS IS GONNA MAKE A HUGE DIFFERENCE.
I'D LOVE YOU TO READ THE LETTER THAT, THAT WAS IN SUPPORT TODAY, UH, BY ONE OF THE PROPERTY DEVELOPERS, UH, BECAUSE HE SAYS IT BETTER, I THINK WE'VE EVER BEEN ABLE TO ARTICULATE IT, THAT WHAT, WHAT THIS SHOULD MEAN AND WHAT IT MEANS TO SOMEBODY THAT WANTS TO BUILD IN THAT AREA.
AND THIS IS THIS, UH, PARTICULAR, UH, INDIVIDUAL WROTE IT.
SO I THINK THIS IS GONNA MAKE A HUGE IMPACT ON, ON DEVELOPMENT, BUT ALSO, YOU KNOW, GIVING, UH, PEOPLE IN A COMMUNITY THAT HAVEN'T HAD THIS.
YOU TALK ABOUT THE FOOD DESERT, WE HOPE WE CURE THAT WITH, WITH THE DEVELOPMENT THAT COMES FROM, FROM THIS.
BUT THERE'S ALSO BEEN A, A REAL DESERT AS FAR AS AREAS TO RECREATIONAL AREAS AND, AND THINGS LIKE THAT HERE AND, AND PLACES WHERE COMMUNITY COULD MEET.
SO, UH, I, I, I'D WANT TO THROW THAT IN.
THIS GOES, THE, UH, PROPERTY WILL BE TURNED OVER, UH, THE PARK NOT FOR RUNNING, THAT WE HAVE TO CONTINUE DOING THAT, BUT IT WILL ACTUALLY BE AN ASSET, A PROPERTY CITY PARK.
SO, UH, THE CITY'S INVESTING IN
[00:30:01]
THE CITY RIGHT NOW BY THIS.UH, BUT THANK Y'ALL FOR YOUR ATTENTION AND THE STAFF HAS BEEN INCREDIBLE.
UH, BUT I, I REALLY DO THINK THIS IS GONNA MAKE A HUGE IMPACT ON SOMEBODY ELSE.
YEAH, I, I JUST HEARING KIND OF THE CHEDDAR AMONGST THE DEVELOPERS AROUND AND THE PROPERTY OWNERS AROUND, UH, THE AREA, THERE'S, THERE IS A LOT OF EXCITEMENT AND IT'S DEFINITELY INCREASING PROPERTY VALUES ALREADY.
YOU KNOW, I REMEMBER YEARS AGO, UM, WHEN WE INVESTED IN THE AREA, THEY COULDN'T GIVE THE PROPERTY AWAY.
UM, BUT SADLY, UH, AND, AND NOW IT'S LOOKS LIKE IT'S BECOMING ONE OF THE JEWELS OF DALLAS.
WELL, WITH THAT SAID, SHOULD WE, UM, GET A MOTION FOR, FOR THIS, THIS IS JJ POEY.
BEFORE WE, UH, BEFORE WE MOVE ON, THERE'S A COUPLE OF, UM, FOLKS ONLINE THAT, UM, WE JUST NEED TO IDENTIFY FOR THE RECORD, THERE'S A FOX FOUR, UM, IF THAT PERSON COULD GIVE THEIR NAME, JUST SO WE MAKE SURE WE CAPTURE EVERYBODY.
THERE'S ALSO SOMEONE WITH THE FIRST NAME NICK, IF THEY COULD IDENTIFY THEIR LAST NAME.
YEAH, I GUESS WE'LL, WE'LL JUST, OKAY.
UH, WHAT ABOUT FOX FOUR? IF NOT, WE'LL JUST CHECK BACK LATER.
ALRIGHT, UH, NEXT UP WE HAVE REVIEW AND CONSIDERATION OF A REQUEST FOR THE CITY'S DEPARTMENT OF TRANSPORTATION AND PUBLIC WORKS FOR THE OAK CLIFF GATEWAY, TIFF DISTRICT FUNDING AN AMOUNT NOT TO EXCEED $750,000 FOR CONSTRUCTION OF A PEDESTRIAN CROSSWALK.
UH, IMPROVEMENTS SUCH AS A RECTANGULAR RAPID FLASHING BEACON AND PEDESTRIAN HYBRID BEACON TO BE LOCATED ON THE NORTHWEST SIDE OF
UM, THIS, UH, IS AN ADDITIONAL PROJECT COMPONENT, UM, THAT INVOLVES, UM, CROSSWALK AT GRADE, UM, AT HALPER PARK.
UM, THE DESIGN IS ALREADY FUNDED THROUGH THE FEDERAL GRANT, UH, THAT WE'VE MENTIONED IN THE SUMMARY.
UM, SPEAKS AGAIN TO PEDESTRIAN SAFETY AND ACCESS AND, UM, AS THE PARK PARTICIPATES, UH, ABILITY AND, AND THE NEED FOR HIGH VISIBILITY AND MIDBLOCK CROSSING THAT'S CLOSER TO LANCASTER AVENUE AND 12TH STREET.
UM, THE SCOPE IS ESSENTIALLY, UH, THE TREATMENTS ARE PROVEN, UM, I BELIEVE, AND WE ALSO HAVE, UH, REPRESENTATIVES HERE FOR THE TRANSPORTATION AND PUBLIC WORKS DEPARTMENT, UM, TO ANSWER QUESTIONS.
BUT, YOU KNOW, HIGH, HIGH VISIBILITY, UM, BRINGS ABOUT TRAFFIC CALMING AND PROJECTION AND SAFETY MEASURES.
UM, AGAIN, THE, THE FOUNDATION WAS ABLE TO LEVERAGE, UM, THE DESIGN PORTION, UH, THROUGH THE GRANT, BUT THE CONSTRUCTION FUNDING WAS NOT INCLUDED IN THE GRANT.
UM, THIS PROJECT, LIKE I MENTIONED BEFORE, IT ALIGNS WITH, UM, THE DISTRICT GOALS FOR CONNECTIVITY AND WALKABILITY AND, UM, THAT'S PRETTY MUCH IT, MR. CHAIRMAN, IT'S A SEPARATE 700 THAT WILL BE AN INTERNAL TRANSFER, UM, TO THE TRANSPORTATION, HOW IT WORKS PART.
SO THIS IS JUSTIN INSTALL LAST BEACON, OR IS IT TO REWORK THE ROADS INDUSTRIAL PARTY? THE DEPARTMENT OF TRANSPORTATION PUBLIC WORKS.
SO I'LL LET STAFF TO, BUT THIS INCLUDES, WE HAVE THE CURRENT INTENTION OF DESIGNING IT AS A PEDESTRIAN HYBRID BEACON WITH IMPROVEMENTS TO, UH, GEOMETRY IMPROVEMENTS IN THAT AREA AND WHATEVER TEXTILE REQUIRES, BECAUSE THIS IS CROSSING THE TEXTILE FACILITY
[00:35:01]
ON THE SOUTHBOUND IDENTIFI BOUND ROAD.AND, UH, IT MAY REQUIRE A TICKING OLD, UM, UH, PHYSICAL IMPROVEMENTS TO THE GEOMETRY AT THAT LOCATION.
UH, BUT THIS IS ALSO, IN ADDITION TO WHAT WAS MENTIONED, THIS IS PART OF OUR, UH, VISION ZERO, UH, FOR SAFETY AND SAFE CROSSING AT THAT LOCATION AND TO ENSURE PROPER CONNECTIVITY FROM ONE SIDE OF THE FREEWAY, UM, TO THE, UM, UH, TO THE, UH, PARK, UH, TO THAT PARK THAT INTERESTING.
SO THAT WOULDN'T HAVE BEEN INCLUDED IN THE ORIGINAL PLANS, THE TYPE OF, SO AS MENTIONED, WE GOT THE GRANT, AND THE GRANT INCLUDES THE DESIGN OF WHATEVER APPROVAL WE SET THESE BANKS.
UH, SO, UH, AT THIS POINT WE JUST ADVERTISE THAT, UH, YOU WANNA ON THAT? YEAH.
SO THAT IS CURRENTLY IN PROCUREMENT FOR THE DESIGN WORK UNDER THIS GRANT.
UM, I BELIEVE IF THE SECOND STEP OF THE PROCUREMENT DID NOT CLOSE DECEMBER 25TH, FIRST 26TH, THEN IT IS THIS FRIDAY.
UM, SO WE'LL BE AWARDING THAT DESIGN CONTRACT HERE IN THE NEXT COUPLE OF MONTHS AND GETTING THAT DESIGN ON YOUR WAY.
BUT NO, IF, BECAUSE THIS IS ON CITY LAND, THIS IS ON CITY OF MEXICO FACILITY, I DON'T THINK IT WOULD BE PART OF WHAT THEY, WELL, JUST CURIOUS ABOUT, UH, THE DESIGN OF THE PARK.
I, I'M TRYING TO LOOK AT THE PICTURES HERE AND UNDERSTAND, I, I ASSUME THAT THIS COINCIDES WITH A NATURAL ENTRANCE TO THE PARK, RIGHT? YES.
AND I THINK WE HAVE A, A PHOTO WE CAN SHARE.
YEAH, BUT IT LEADS RIGHT INTO THE 12TH STREET
THAT'S WHERE IT WOULD LEAD RIGHT INTO.
YOU MIGHT HAVE TO STAND AT POINT.
UM, SO WHAT WE'RE TALKING ABOUT, SO HERE'S THE 12TH STREET PROMENADE, THAT'S THE MAIN, OOPS, I WAS, I SHOULD TOUCH OH, IT TOUCH SEE, SORRY.
OH, ACTUALLY THAT'S A GOOD ONE.
THIS IS THE BETTER ONE ACTUALLY.
SO, UM, THERE I WILL TRY NOT TO TOUCH IT.
THIS IS THE 12TH STREET PROMENADE AND WHAT WE'RE TALKING ABOUT IS, IS IT THE MAIN ENTRANCE TO THE PARK IS SORT OF IN THIS AREA, SO WE'VE GOTTA FIGURE OUT WHAT THAT CROSSING LOOKS LIKE.
THAT'S WHAT WE'RE TALKING ABOUT ON THAT SIDE.
WE'RE LOOKING SOUTHBOUND ON 35 RIGHT NOW.
SO THERE'S THE ZOO, THAT'S THAT SURFACE PARKING LOT WE'RE TALKING ABOUT.
AND THEN, UM, THE CROSSWALK WE'RE TALKING ABOUT IS, IT'S A LITTLE BIT FUNKY INTERSECTION BECAUSE WE HAVE 12TH STREET COMING IN AT A DIAGONAL, DIAGONAL LANCASTERS HERE AND THEN THE SOUTHBOUND
SO THAT'S WHERE THE DESIGN PHASE WILL HELP US KIND FIGURE OUT WHAT MAKES THE MOST SENSE.
BUT, UM, YOU KNOW, WE'LL NEED TO FIND DEMONSTR AT THAT.
THANK YOU FOR EXPLAINING THAT.
ALRIGHT, ANY QUESTIONS, COMMENTS? ALL RIGHT.
UH, CAN I GET A MOTION FOR APPROVAL? YEAH, THIS IS TOM.
GREAT WAY TO START THE NEW YEAR.
UM, SO, UH, WITH THAT CONCLUDING IT, UH, CAN I GET A MOTION TO ALL? THANK YOU.