* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:01] YOU GO AHEAD, STATE IT. IT IS 1131 [Dallas Cypress Waters TIF District Board Meeting on January 29, 2026.] ON JANUARY 29TH, 2026. MEETING CALL FOR ORDER. AND NEXT WE'LL HAVE THE INTRODUCTION OF MEETING PARTICIPANTS. WE'LL START HERE IN THE CONFERENCE ROOM AND THEN, UM, WE'LL HAVE EVERYONE WHO'S ONLINE INTRODUCE THEMSELVES REALLY QUICKLY. UM, FOR CITY STAFF THAT'S HERE, UM, YOU CAN INTRODUCE YOURSELF IN JUST, UM, YOU DON'T NECESSARILY HAVE TO TURN ON YOUR CAMERA, BUT THROUGHOUT THE REST OF THE, THE, UM, MEETING IF YOU NEED TO SPEAK, YOU'LL HAVE TO TURN ON YOUR CAL, YOUR CAMERA. AND SO MY NAME IS TIM LEE AND I'M, UM, ASSISTANT DIRECTOR HERE IN THE OFFICE OF ECONOMIC DEVELOPMENT. AND MY NAME IS ALEXANDER. I'M AN ECONOMIC DEVELOPMENT COORDINATOR WITH THE OFFICE. ECONOMIC, DEREK SANDLER, CHAIR CYBER SCHOLAR, TENNIS HISTORY BOARD. MS. OLIVER. I'M CLAIRE OLIVER. I THINK I'M, UH, WAS VICE FOLLOW VICE LAST YEAR. VICE. I'M VICE CHAIR, YEAH. THANKS. VICTOR. VICTOR TOLEDO. I WAS APPOINTED BY, UM, DISTRICT SIX. THANKS LUIS. UH, LUIS DE MAYO, AND I AM THE REPRESENTATIVE FOR DALLAS COUNTY ON THE TIF BOARDS. THANK YOU. AND LAST, UM, IKA, PLEASE. OKAY. IKA LANCE. AND I AM REPRESENTATIVE FOR DALLAS COUNTY. THANK YOU. WE'LL START WITH, UH, CITY STAFF. UH, TANISHA, PLEASE. GOOD MORNING. I'M TANISHA MARVEL'S, ECONOMIC DEVELOPMENT COORDINATOR FOR THE TIFF DISTRICTS. UM, TARA LINDOR, OR WE AFFECTIONATELY CALL TK OR WE'LL COME BACK TO TK. UM, NATALIA. HELLO? HI, TK, WE CAN HEAR YOU. YES. TK , FINANCE MANAGER, ECONOMIC DEVELOPMENT, NATALIA, OR WE'LL GO TO ELENA. HI, THIS IS ELENA RUIZ AT THE CITY ATTORNEY'S OFFICE. UM, I'M NOT A PARTICIPANT. I'M JUST OBSERVING TODAY. YES, THANK YOU CLAUDIA. CAN YOU HEAR ME? WE CAN HEAR SOMEONE. OKAY. THIS IS CLAUDIA. I WAS HAVING MIC ISSUES. UM, CLAUDIA VARGAS. I WORK WITH DALLAS COUNTY OFFICE OF ECONOMIC PLANNING AND DEVELOPMENT WITH, UH, LUIS TE AND I'M OBSERVING AS WELL. THANK YOU. AND, UM, NATALIA IS ALSO WITH THE OFFICE OF ECONOMIC. SHE WORKS ON OUR FINANCE TEAM. SHE MAY BE HAVING AUDIO ISSUES AS WELL. AND SO NOW THAT WE HAVE COMPLETED, UM, INTRODUCTION OF ALL OF THE MEETING PARTICIPANTS OR ATTENDEES, UM, WE CAN GO TO ITEM THREE. CHAIR YOU READING TO. ALRIGHT. PUBLIC COMMENTS PERTAINING TO AGENDA ITEMS FOUR THROUGH SIX. ANY COMMENTS? I DON'T HEAR OR SEEING ANY? NO PUBLIC COMMENTS. ALRIGHT. NUMBER FOUR, REVIEW AND CONSIDER THE MEETING RECORD FOR THE JANUARY 30TH, 2025 MEETING ON THE CYPRUS WATERS TIFF DISTRICT BOARD OF DIRECTORS. UM, I HAD ONE CORRECTION ON THAT ON PAGE FOUR OF THE WHOLE PACKET. SO I THINK IT'S THE FIRST PAGE OF THE MEETING. RECORD NUMBER FIVE. UH, THE DATE IS MISSING THE ENTIRE YEAR, SO 2025 I BELIEVE. BESIDES THAT, CAN WE MAKE A MOTION TO APPROVE? YOU CAN MAKE THAT MOTION. I MAKE THAT MOTION. MOTION TO APPROVE. SUBJECT TO CORRECTING. YES, THE DATE. AND MARIA, DID YOU SECOND? I DID. THANK YOU. ALL IN FAVOR SAY AYE. AYE. ARE THERE ANY A THE AGENDA ITEM PASSED? UH, NEXT AGENDA ITEM REVIEW AND CONSIDER THE CYPRUS WATERS TIP DISTRICT ANNUAL REPORT FOR THE FISCAL YEAR 2024 TO 25. THANK YOU CHAIR. UM, I'M GOING TO RUN THROUGH OUR ANNUAL [00:05:01] REPORT FOR FISCAL YEAR 24 25, WHICH IS REPORTING FOR OCTOBER 1ST, 2024 THROUGH SEPTEMBER 30TH, 2025. SO THIS TEMP DISTRICT WAS CREATED IN 2010 ORIGINALLY TO SUPPORT DIVISION OF DEVELOPING A, UM, AREA THAT COULD SUPPORT CORPORATE RELOCATIONS HERE IN THE CITY OF DALLAS FOR CORPORATE USERS THAT ARE LOOKING FOR BILL TO SUIT, UM, TYPE DEVELOPMENT AS WELL AS RESIDENTIAL AND COMMERCIAL DEVELOPMENT IN CYPRUS WATERS. UM, IN 2015, THE 10TH DISTRICT WAS AMENDED BY CITY COUNCIL TO REDUCE THE BUDGET, UM, TO A NET PRISON VALUE OF 25.7 MILLION. UM, ALSO TO ADD ADDITIONAL, UM, PROPERTY TO THE DISTRICT. AND DURING FISCAL YEAR 20 24, 20 25, ON PAGE FOUR OF THE ANNUAL, UM, DURING FISCAL YEAR 20 24, 20 25, UM, DARK, COMPLETED THE SILVER LINE AND THE THERE IS A STATION FOR THE SILVER LINE IN CYPRESS WATERS. AND SO THAT STATION WAS PROVIDED BY, UM, UC, BILLINGSLEY, AND UM, SO THAT IS NOW OPERATIONAL. ALSO, ON OCTOBER 24TH, THERE WAS A CEREMONY THAT WAS HELD FOR THE SILVER LINE, UM, WHERE THE FOLLOWING DAY SERVICE DID START. IF YOU GO TO PAGE SIX, THESE ARE TIF DISTRICT PROJECTS AND, UM, OUR INITIAL TWO PROJECTS WITHIN THE DISTRICT, WHICH ARE LABELED AS CYRUS WATERS, PHASE ONE AS CYPRESS WATERS TWO, WERE ESSENTIALLY INFRASTRUCTURE PROJECTS THAT WERE NEEDED AT THE TIME TO START DEVELOPMENT IN THE AREA. AND SO CYPRESS WATER SPACE ONE SPURRED THE DEVELOPMENT OF, UM, THE RESIDENTIAL THAT YOU SEE. PARSONS GREEN, ONE, SCOTCH CREEK, SYCAMORE PARK, AND PARSONS GREEN TOO. AND THEN CYPRESS WATER PHASE TWO PROVIDED INFRASTRUCTURE FOR A LOT OF THE OFFICE DEVELOPMENT THAT HAS OCCURRED SINCE. AND OUR LAST PROJECT WITHIN THIS TIF DISTRICT WAS FOR, UH, FIRE STATION OR PUBLIC SAFETY BUILDING. UM, 58. IT HAS BEEN OPEN FOR A FEW YEARS NOW, AND, UM, HAS BEEN A REALLY SUCCESSFUL PARTNERSHIP BETWEEN THE TIF DISTRICT, THE DEVELOPER, WHICH IS BILLINGSLEY COMPANIES AND, UM, DALLAS FIRE AND RESCUE TO BRING ONLINE A, A PERMANENT PUBLIC SAFETY BUILDING WITHIN SERVICE. WATERS REMAINING, UM, PROJECTS THAT ARE IN THIS CHART OR PROJECTS THAT HAVE OCCURRED WITHIN CYPRESS WATERS WITHOUT ANY TIP ASSISTANCE. AND SO THE VALUE OF THE PROJECTS THAT WERE OR DID RECEIVE, UH, TIP ASSISTANCE IS 181.6 MILLION AND THAT WAS LEVERAGED BY ONLY 28.3 MILLION OF TIF FUNDS. ADDITIONALLY, ANOTHER 1.2 BILLION IN, UM, VALUE HAS BEEN CREATED AS A RESULT OF THE CREATION OF THIS TIP DISTRICT AND, UM, CRITICAL CRITICALLY NEEDED INFRASTRUCTURE. AND SO AGAIN, OUR 28.3 MILLION IN TIF INVESTMENT HAS LEVERAGED OVER JUST ABOUT 1.4 BILLION, UH, IN ACTUAL VALUE GROWTH WITHIN THIS AREA, WHICH IS PHENOMENAL. IF YOU GO TO PAGE EIGHT, UM, WE TALK ABOUT OUR MIXED INCOME HOUSING SUMMARY FOR THIS TIP DISTRICT. THERE IS A REQUIREMENT FOR, UM, 20% OF RESIDENTIAL UNITS BEING CONSTRUCTED AS PART OF A PROJECT RECEIVING TIF FUNDS BE SET ASIDE FOR FAMILIES THAT MAKE AT 80% OR BELOW. AND SO WE HAVE 163 OF THOSE UNITS WITHIN THE TIF DISTRICT. UM, OUR NEXT SECTION IS ON THE VALUE AND INCREMENT REVENUE. AND THIS IS WHAT WE TRACK ANNUALLY. UM, THE VALUE OF THIS TIP DISTRICT WHEN IT WAS CREATED WAS $71,437. THE ACTUAL CERTIFIED VALUE 2025 CERTIFIED VALUE FOR THE DISTRICT NOW IS 1.3 BILLION, WHICH IS A 1.2, ALMOST 1.3 BILLION INCREASE OVER THE BASE YEAR VALUE. AND IT WAS A 80 MILLION INCREASE OR 7% INCREASE OVER 2020 FOURS VALUE. WITH THIS, UM, INCREASE IN VALUE FOR THE DISTRICT, WE ARE GOING TO COLLECT, UM, A PARTIAL PARTIAL PAYMENT OF THE INCREMENT OF 1.7 MILLION. AND THIS IS BECAUSE, UM, ALL OF OUR TIF DISTRICTS, UM, REACHED THEIR TERM WHEN [00:10:01] THEY EITHER COLLECT ALL OF THE BUDGET THAT WAS ORIGINALLY APPROVED OR THEY HAVE COMPLETED ALL OF THE PROJECTS FOR THIS TIF DISTRICT. UM, AND SO WE'RE GONNA MEET OUR BUDGET CAP WITH A PARTIAL COLLECTION OF THE INCREMENT FOR 2025. AND SO IN TOTAL, THE AMOUNT OF INCREMENT THAT WOULD BE GENERATED WITHIN THIS TIP DISTRICT FOR 2025 IS NINE POINT, ABOUT 9.3 MILLION. BUT BECAUSE WE'RE GONNA HIT OUR CAP, WE'RE ONLY GONNA COLLECT A PORTION OF THAT 9.3 MILLION UNLESS, UM, THE TIF DISTRICT IS EXPANDED TO SOME POINT EXPANDED IN THE FUTURE OR EXPANDED THIS YEAR, IT WOULD HAVE TO OCCUR THIS YEAR. AND SO I'LL GET A LITTLE BIT INTO THAT AS WE GO. UM, OUR NEXT SECTION IS OUR OBJECTIVES, PROGRAMS AND SUCCESS INDICATORS. THESE, UM, OBJECTIVES FOR THE TIF DISTRICT WERE CREATED WHEN THE TIF DISTRICT WAS ORIGINALLY APPROVED. AND SO, UM, ONE OF THEIR GOALS WAS TO CREATE ADDITIONAL TAXABLE VALUE THAT'S ATTRIBUTABLE TO NEW PRIVATE INVESTMENTS IN THE CYPRESS WATERS TIFF DISTRICT. AND THE GOAL WAS 1.5 BILLION. UM, AS IT STANDS, WE HAVE SEEN AN INCREASE IN VALUE JUST UNDER 1.3 BILLION. SO 1.2 BILLION, WHICH IS 81% OF THE GOAL. THERE WAS ALSO A GOAL TO ATTRACT NEW PRIVATE DEVELOPMENT THAT WOULD PROVIDE 10,000 NEW RESIDENTIAL UNITS, 4,000 SQUARE FEET OF COMMERCIAL SPACE, 700,000 SQUARE FEET OF DATA CENTER USE, AND 2 MILLION SQUARE FEET OF LIGHT WAREHOUSE INDUSTRIAL USE. AND AN ESTIMATED 150,000 SQUARE FEET OF PEDESTRIAN ORIENTED RETAIL SPACE HAD 9,000 ONSITE JOBS. AND SO BELOW WE KIND OF HAVE A TRACKING OF HOW WE ARE MEASURING UP WITH THOSE ORIGINAL, UM, GOALS OF THE DISTRICT. AND SO APPROXIMATELY 3,471 RESIDENTIAL UNITS HAVE BEEN COMPLETED WITHIN THE 10TH DISTRICT, WHICH IS ABOUT 35% OF THE HOUSING GOAL. IN TOTAL, APPROXIMATELY 3.5 MILLION SQUARE FEET OF OFFICE SPACE HAS BEEN COMPLETED, WHICH IS 89% OF THE COMMERCIAL SPACE GOAL. AND, UM, 35,000 SQUARE FEET OF RETAIL WAS COMPLETED, WHICH IS 23% OF THE PEDESTRIAN GOAL. AND TODAY THERE ARE 19,555 EMPLOYEES WITHIN, UM, THE, THE CYPRUS WATERS TIP DISTRICT, WHICH IS SEATED THE GOAL OF 9,000. AND SO THE NEXT BULLET ON HERE, UM, SPEAKS TO THE SILVER LINE, UM, AND THE, THE STATION IN CYPRUS WATERS. AND IT JUST GIVES A LITTLE BIT MORE INFORMATION ON KIND OF HOW WE ENDED UP HERE. UM, IT HAS TAKEN A WHILE TO GET THIS TO COME ONLINE ORIGINALLY THAT, UM, THE LINE WAS EXPECTED TO BE OPEN IN 2024. IT WAS PUSHED BACK AND, UM, TO 2025 AND IT DID OPEN LATE IN 2025 AND BEGAN SERVICE IN OCTOBER. IF WE'LL GO TO PAGE 10 OF THE ANNUAL REPORT AND WE'LL SKIP DOWN TO THE, UM, NPB AND THE, THE BUDGET FOR THE TIP DISTRICT, WHICH I WAS REFERRING TO EARLIER. AND SO THIS TIF DISTRICT WAS CREATED WITH A GOAL TO, UH, GENERATE 26 MILLION NET PRESENT VALUE DOLLARS OR 51 MILLION IN TOTAL DOLLARS OF THE LIFE OF THE TIF 30 YEAR LIFE. AND, UM, SINCE PARTICIPATING IN THIS TIF DISTRICT AND AS OF THE END OF 20 24, 20 25 FISCAL YEAR, APPROXIMATELY 49 MILLION IN TOTAL TIF DOLLARS HAVE BEEN GENERATED, WHICH IS 96% OF THE TIFS GOAL. AND SO, UM, THIS IS WHAT I ALLUDED TO ABOUT US BUMPING UP AGAINST OUR CAP FOR THE TIF DISTRICT. AND SO WE WILL ONLY COLLECT THE ADDITIONAL 1.7 MILLION OR IF WE EXTEND THE TIFF AND EXTEND THE TERM AND ALLOW US TO COLLECT ADDITIONAL FUNDS, THEN THAT WOULD CHANGE. BUT FOR RIGHT NOW AND TO BE, UM, COMPLIANT WITH STATE LAW AND HOW THIS TIP WAS CREATED, WE WILL ONLY COLLECT A PORTION OF 2020 FIVE'S INCREMENT IN 2026 UNLESS THINGS CHANGE ON PAGE 11. IT IS JUST A SUMMARY OF OUR MEETINGS. UM, WE HAD ONE MEETING LAST YEAR, JANUARY 30TH, 2025. VERY SIMILAR MEETING TO THIS ONE WHERE WE REVIEWED, UM, THE ACTIVITIES OF THE TIF DISTRICT AND, UM, HOW IT IS PROGRESSING TOWARDS ITS ORIGINALLY STATED GOALS. ALSO, THERE WAS ONE ITEM THAT PERTAINED TO THE TIFF DISTRICT THAT WAS ON THE CITY CITY COUNCIL AGENDA DURING [00:15:01] 20 24, 25, AND THAT WAS THE APPROVAL OF LAST FISCAL YEAR'S ANNUAL REPORT, ANOTHER ILLUSTRATION REGARDING THE, UH, TIF DISTRICT AND THE BUDGET. AND SO BY OUR CALCULATIONS, UM, WE HAVE ANOTHER 18 MILLION IN CAPACITY IF WE WERE TO BE ABLE TO COLLECT THE ENTIRE TERM OF THE 30 YEARS, BUT THAT'S NOT THE CASE. SO WE REALLY WOULD ONLY HAVE THE ABILITY TO COLLECT THE 1.7 AND ON IN, UM, 2026. NUMBER 13 IS A BIG ONE. UM, ON PAGE 13 MWD PARTICIPATION, UM, SINCE THE INCEPTION OF THIS TIF DISTRICT, THERE'S BEEN A REQUIREMENT FOR MINORITY WOMEN OWNED BUSINESSES AND ENTERPRISES TO PARTICIPATE IN THESE TIF DISTRICTS TO HELP BENEFIT THE CITY'S POPULATION OF CONTRACTORS AND UNDERUSED CONTRACTORS. WELL, UM, HERE VERY RECENTLY, AS OF JUNE 25TH, 2025, THE CITY OF DALLAS CEASED ENFORCING ITS BUSINESS INCLUSION AND DEVELOPMENT PRO POLICY, WHICH INCLUDED THE MWBE SUBCONTRACTING GOALS. UM, IT'S A RESULT OF THE FEDERAL MANDATES THAT HAVE COME DOWN WITH REGARDS TO NW MINORITY AND WOMEN OWNED, UM, CONSIDERATION BY CITIES FOR PUBLIC FUNDS. AND SO OUR, UM, PROGRAM HAS SHIFTED AND NOW, UM, THERE'S LESS A FOCUS ON ACTUAL RACE OR NATIONALITY. AND THE PROGRAM HAS BEEN CHANGED TO DRIVE, DON'T NECESSARILY REMEMBER WHAT THAT STANDS FOR, BUT WE'RE LOOKING AT SMALL UNDERUTILIZED BUSINESSES. SO IT'S LESS BASED UPON RACE AND MORE BASED UPON THE SIZE OF THE, UM, THE COMPANY, WHICH IS NOT, UM, DISSIMILAR, UM, WHICH IS SIMILAR TO WHAT THE COUNTY USES. I BELIEVE THEY USE HUB, UM, HISTORICALLY UNDERUTILIZED BUSINESSES. AND SO WE'RE GOING TOWARDS, UM, WHAT OTHER PUBLIC AGENCIES ALREADY USE. AND SO PAGES 14, 15 AND 16 ARE FINANCIALS THAT ARE PREPARED BY OUR FINANCE TEAM WHO ARE, WHO ARE ALSO HERE ATTENDING THE MEETING. IF YOU HAVE ANY QUESTIONS REGARDING THOSE THREE PAGES, I'LL REFER YOU TO OUR FINANCE TEAM. AND THEN LASTLY, THIS PROJECT DOES NOT HAVE ANY OUTSTANDING, UM, THIS TIP DISTRICT DOES NOT HAVE ANY OUTSTANDING PROJECTS, NOR DO WE HAVE ANY DISTRICT-WIDE SET ASIDES. AND SO IF I FLIP BACK TO THE WORK PLAN, WHICH I, I BELIEVE I SKIPPED, IT'S ON PAGE 13 OF YOUR ANNUAL REPORT. AND SO THE VERY FIRST THING IS TO GET THIS, UM, ANNUAL REPORT ADOPTED AFTER, UH, RECEIVING A FAVORABLE RECOMMENDATION FROM THE TIP BOARD. AND THEN, UM, ANOTHER ITEM ON OUR WORK ON MY WORK PLAN IS TO INVESTIGATE POTENTIAL EXPANSION OF THE CYRUS WATERS TIP DISTRICT. UM, LAST FISCAL YEAR, UM, THIS, THIS ACTUAL, UM, ITEM WAS MUCH LONGER BECAUSE IT REFERENCED HENSLEY FIELD, WHICH IS AN AREA OWNED BY THE CITY IN SOUTHERN DALLAS, UM, THAT NEEDS TONS OF INFRASTRUCTURE TYPE WORK. IT'S A SIMILAR SETUP AS CYPRESS WATERS AND THAT THERE IS A LAKE AS PART OF THAT, UM, PROPERTY AS WELL. THERE HAVE BEEN QUITE A FEW DELAYS AS IT RELATES TO HENSLEY FIELD. UM, THERE'S MAJOR CLEANUP THAT HAS TO BE DONE, UM, BY AN ENTITY, NOT THE CITY. AND SO AS THEY CONTINUE TO WORK THROUGH, UH, COMING TO AN AGREEMENT ON THE CLEANUP AND TO WHAT LEVEL AND ALL THIS GOOD STUFF. SO MY GOING FORWARD, MY WORK PLAN INCLUDES JUST INVESTIGATING THE POTENTIAL EXPANSION OF THE CYRUS WATERS TIP DISTRICT TO EITHER BENEFIT THAT AREA OR TO CONNECT IT TO SOME OTHER AREA THAT MAY BE IN NEED OF, UM, ASSISTANCE AS IT RELATES TO INFRASTRUCTURE TYPE IMPROVEMENTS. AND SO THAT WILL BE MY WORK PLAN. UM, THIS HAS TO GO BEFORE THE TIF BOARD AND CITY COUNCIL THIS YEAR DUE TO THE BUDGET CAP SITUATION. AND SO I ANTICIPATE THAT WE WILL HAVE AT LEAST ONE, PROBABLY A COUPLE MORE MEETINGS THIS YEAR. AND WITH THAT, THAT'S NOT OVERVIEW OF THE, UM, ANNUAL REPORT AND I CAN ANSWER ANY QUESTIONS THAT YOU HAVE. I WILL ASK THAT ANY MOTION MADE, UM, INCLUDES THE ABILITY FOR STAFF TO MAKE, UM, MINOR EDITS TO THE REPORT, UM, THAT WILL NOT NECESSARILY AFF AFFECT THE FINANCIALS, WHICH IS THE ONLY STATE [00:20:01] REQUIRED PORTION OF THIS DOCUMENT, BUT JUST MORE IT HAS TO CONTINUE THROUGH THE REVIEW PROCESS WITH THE DIRECTOR AND THE CITY ATTORNEY'S OFFICE. AND SO WE WANNA HAVE THE ABILITY TO MAKE WHATEVER CHANGES THEY RECOMMEND. I DID HAVE A QUESTION, UM, AND I'M TRYING TO FIND WHERE IT WAS ON HERE, BUT, UM, YOU SAID SOMETHING ABOUT ONLY 32% OF THE GOAL OF HOUSING BEING MET IN THE AREA. I UNDERSTAND THAT WE'RE ABOUT TO HIT THE CAP OF, UM, TO FUNDING THAT THE AREA CAN GET, BUT WHAT HAPPENS IF THEY HAVEN'T MET ALL OF THE GOALS THAT WERE DEVELOPED AND WHEN THE PLAN STARTED? SO THAT COULD BE, UM, IT, IT, IT'S, THAT'S A LITTLE COMPLICATED IN A, IN ANY OTHER TIF DISTRICT. THAT WOULD BE ONE OF THE REASONS TO EXTEND THE TERM OF THE TIF DISTRICT TO ACTUALLY HAVE IT DO WHAT IT WAS SET UP TO DO WITHIN THIS PARTICULAR TIF DISTRICT. WE KNOW THAT THE DEVELOPER DOES NOT INTEND ON SEEKING ADDITIONAL FUNDS TO CONTINUE TO DEVELOP IN CYPRESS WATERS. AND SO NOT MEETING THE ORIGINALLY PRESCRIBED GOALS DURING THE TERM OF THE TIF DISTRICT IS NOT A HUGE ISSUE FOR THIS PARTICULAR TIF DISTRICT BECAUSE IT IS A SINGLE DEVELOPER WHO HAS MASTER PLAN AND DEVELOPED THE THE PROPERTY. UM, WE DO NOT, UM, ANTICIPATE PROVIDING ANY ADDITIONAL FUNDS. THAT'S WHY THIS WOULD BE A GREAT CANDIDATE TO MARRY UP WITH SOME OTHER, UM, PART OF THE CITY THAT NEEDS AN INFUSION OF FUNDS TO HELP MAKE THE, UM, PROPERTIES DEVELOPABLE OR HELP REDEVELOP AREAS BECAUSE WE, WE DO KNOW THAT WE DON'T ANTICIPATE ANY ASKS IN THE CYPRESS WATERS PROPER AREA AREA, BUT IN, IN THE CONSIDERATION OF EXTENDING THE TERM, IF THE TIF BOARD FELT LIKE THERE WAS SOME NEED TO MAYBE, SO MY MIND IS UM, RELATING TO AFFORDABLE HOUSING. AND SO IF THERE WAS A NEED TO MAYBE KEEP SOME FUNDS FOR CYPRESS WATERS TO SUPPORT AFFORDABLE HOUSING, WE COULD DEFINITELY CONSIDER THAT AS WELL. AND THAT PROBABLY WOULD BE ONE OF MY RECOMMENDATIONS TO THE TIF BOARD BECAUSE A LOT OF TIMES WHEN IT COMES TO RESIDENTIAL AND MULTIFAMILY, UM, THE DEVELOPER SENT COULD SELL OFF THREE ACRES AND THE ULTIMATE MULTI MULTIFAMILY DEVELOPER THERE COULD THEN ASK FOR FUNDS TO SUPPORT THE PROJECT AND TO GET AFFORDABLE UNITS WITHIN THE PROJECT. AND SO THOSE WILL BE SOME OF THE CONSIDERATIONS WHEN I COME BACK TO YOU. UM, IF WE DETERMINE THAT WE NEED TO EXTEND IT, THOSE WILL BE SOME OF THE CONSIDERATIONS THAT I'LL PRESENT TO THE TIF FOUR. THANK YOU. ARE THERE ANY COMMENTS OR QUESTIONS? WOULD SOMEONE CARE TO MOVE TO MOVE? I'LL SECOND. I MISSED THE MOTION. WHO MOTION FOR APPROVAL? I CAN'T MOTION FOR IT. SO IT WOULD TAKEN APPROVE VICTOR. AND DOES YOUR MO MOTION INCLUDE THE ABILITY FOR STAFF TO MAKE MINOR EDITS AND CHANGES TO THE ANNUAL REPORT? YES. THANK YOU. AND SECOND WAS LUIS. YES. THANK YOU. ALL THOSE IN FAVOR SAY AYE. AYE. AYE. AYE. ALL THOSE AGAINST SAY NAY. DO NOT HEAR ANY NAYS. SO IT PASSES UNANIMOUS. THE NEXT ITEM NUMBER SIX IS REVIEW AND CONSIDER A QUARTERLY REGULAR MEETING SCHEDULE FOR CYPRUS WATERS TIF DISTRICT BOARD OF DIRECTORS FOR HONOR YEAR 2026. AND UM, I'M SURE THE TIF BOARD MEMBERS KNOW THIS FIELD CITY SECRETARY'S OFFICE REQUIRES THAT WE HAVE A MEETING SCHEDULE ON FILE FOR ALL OF THE BOARDS AND COMMISSIONS FOR THE CITY. UM, WE ARE PROPOSING A QUARTERLY SCHEDULE. UM, I'D LIKE TO JUST PROPOSE THE, UM, SAME MEETING SCHEDULE AS LAST YEAR, WHICH WAS THE FOURTH THURSDAY OF THE SECOND MONTH OF EACH QUARTER. AND I'VE BEEN LOOKING AT THE DATES AND SO THAT WILL BE FEBRUARY 27TH. NO, FEBRUARY 26TH IS THE DATE. UM, THE NEXT QUARTERLY [00:25:01] MEETING WOULD BE MAY 22ND. NOPE, THAT'S A FRIDAY. I DON'T KNOW WHY I WAS STUCK ON FRIDAY. IT'S MAY 21ST . AND THEN THE THIRD QUARTERLY MEETING WOULD BE AUGUST AND THAT DATE IS THE 27TH AND THEN THE LAST WILL BE NOVEMBER AND THAT IS THE 26TH. AND SO THAT'S ALSO THANKSGIVING DAY, SO I KNOW WE NEED TO CHANGE THAT ONE, BUT WERE THERE ANY OTHER OH, YOU GUYS DON'T WANNA MEET ON THANKSGIVING? NO. AT, WE COULD JUST DO LITTLE TURKEY TROT AND THEN COME IN. NOPE. . OKAY, NO THANKS. IF THERE AREN'T ANY ISSUES WITH THE FEBRUARY, MAY, AND AUGUST DATE, MAYBE WE COULD GET A PROPOSAL FOR A DIFFERENT DATE DURING NOVEMBER. COULD WE DO THE THURSDAY BEFORE THAT IF WE HAD TO MEET, WHICH IS THE 19TH? YEAH. DOES THAT WORK FOR EVERYONE? OKAY, I'LL CHANGE THAT. AND SO THE DATES WILL BE FEBRUARY 26TH, MAY 21ST, AUGUST 27TH AND NOVEMBER 19TH. AND THIS YEAR WE WILL SEND OUT CALENDAR INVITES TO PUT THIS ON YOUR CALENDARS. THANK YOU. UM, AND SO FOR THIS CHAIR, I WOULD NEED A MOTION AND A SECOND FOR THE DATES I THAT WE ACCEPT THE CALENDAR DATES AS SCHEDULED OR AS DISCUSSED. THANK YOU CLAIRE. YOU SECOND, SECOND, SECOND. ALL THOSE IN FAVOR SAY AYE. AYE. AYE, AYE. AYE. ALL THOSE AGAINST SAY NAY. HERE MAY SO IT PASSES UNANIMOUSLY. AND WITH THAT, I DON'T BELIEVE THERE ARE ANY FURTHER AGENDA ITEMS AND, UH, IUR THIS MEETING. THANK YOU EVERYONE. Y'ALL HAVE A GOOD DAY. * 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.