[Dallas Public Facility Corporation on January 27, 2026.]
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MY NAME IS KEITH AL, PRESIDENT OF THE DALLAS PUBLIC FACILITIES CORPORATION.
WE WOULD LIKE TO WELCOME YOU TO THE FEBRUARY 3RD, 2026 MEETING AND CALL IT TO ORDER EXACTLY AT 12 NOON.
ITEM NUMBER TWO, ROLL CALL, SAM.
PRESENT? KEN MONTGOMERY? HERE.
WE HAVE LET THE RECORD REFLECT.
WE HAVE, UH, 11 IN ATTENDANCE.
DIRECTOR BROWN'S, UH, UH, VIDEO.
MOVING ON TO ITEM NUMBER THREE, PUBLIC TESTIMONY.
DO WE HAVE ANY PUBLIC COMMENTS ON ITEMS FOUR THROUGH 13 SIGNED UP ONLINE? SAM, HAVE ANY SIGNED UP IN THE BACK? NO.
DO WE HAVE ANY ONLINE YOU WOULD LIKE TO SPEAK ONLINE? NOT IT'S JUST OUR NORMAL CREW ONLINE.
MOVING ON TO ITEM NUMBER FOUR, DISCUSSION AND APPROVAL OF THE MINUTES OF DECEMBER 2ND, 2025.
HAS EVERYONE HAD A CHANCE TO REVIEW THE MINUTES? AND DO WE HAVE A MOTION FOR APPROVAL? YES.
APPROVED MOTION MADE TO APPROVE BY DIRECTOR PENALTY.
WE HAVE A SECOND, SECOND, SECOND.
UH, SCOPE FOR A QUICK ROLL CALL? VOTE FOR APPROVAL.
I THINK YOU CALL DIRECTOR STINSON.
LET THE RECORD REFLECT THAT THE ITEM NUMBER FOUR HAS BEEN APPROVED.
MOVING ON TO ITEM NUMBER FIVE, COMMUNITY ANNOUNCEMENTS.
DO WE HAVE ANY COMMUNITY ANNOUNCEMENTS? YEAH, WE, UH, WE HAVE A BROCHURE THAT THE PFC AND THE HFC MADE TOGETHER.
YOU GUYS CAN SEE THE DIGITAL COPY OF IT ONLINE.
WE'RE ALSO GONNA GET SOME PRINTOUTS WHEN WE'RE OUT NETWORKING AND THINGS OF THAT NATURE AT EVENTS.
UM, OR HAVE PEOPLE IN OUR FUTURE OFFICE THAT JUST WANT SOME TAKE HOME MATERIAL.
YOU GUYS CAN SEE THAT, UH, ON THE AGENDA.
ITEM FIVE, UH, OR BEHIND THE AGENDA.
IT JUST KIND OF BREAKS DOWN, YOU KNOW, BACK TO ABOUT THE HFC AND PNC, UH, TRYING PAINT SOMEWHAT OF A, A PICTURE ABOUT WHAT OUR PROGRAMS DO.
A LITTLE BIT OF EXAMPLE PROJECTS AND, UH, YOU KNOW, HELPING TO CLARIFY SOME, SOME OF THE, UH, POTENTIAL MYTHS OR INFORMATION AROUND, AROUND THE PROGRAMS. UM, WE WORKED WITH THE HFC STAFF ON THAT.
UM, AND THINK IT TURNED OUT GOOD.
OPEN THE NOTES IF ANYONE ADD ANY.
DO YOU HAVE ANY OTHER COMMUNITY ANNOUNCEMENTS? SEEING NONE HERE ONLINE.
DPFC BOARD MEMBERS SHOULD DISCLOSE ANY RELATIONSHIPS THAT MEMBER MAY HAVE WITH THE PROJECTS TO BE CONSIDERED ON THIS AGENDA OR WITH ANY DEVELOPER, PARTICIPANT OR FINANCIAL BENEFICIARY OF THE PROJECTS TO
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BE CONSIDERED ON THIS AGENDA.EVEN IF THAT RELATIONSHIP DOES NOT RELATE TO A SPECIFIC PROJECT THE D-P-F-D-P-F-C BOARD IS CONSIDERING.
AND NOW WE'RE, UH, THE CHAIR IS GOING TO MOVE ITEM NUMBER 11 NEXT ON THE AGENDA.
UM, 'CAUSE AARON MIGHT HAVE TO, UH, LEAVE OVER A COUNCIL BRIEFING EARLY.
SO WE'RE, GO AHEAD AND, UH, DISCUSS THAT AND MOVE TO, UH, ITEM NUMBER 11, DISCUSSION APPROVAL OF THE 2026 EPFC BUDGET.
WE'LL START OUT WITH, UM, DIRECTOR HOLMES TREASURER.
I'M GONNA YIELD, UH, THE FLOOR TO, UH, AARON AND, UH, UH, STAFF TO GO THROUGH HOW THEY PUT TOGETHER THE BUDGET AS AN EXPLANATION FOR, AND THEN WE'LL OPEN THE QUESTION, UH, DISCUSSIONS FOR THE REST OF THE BOARD.
SO JUST TO ADD ON TO WHAT PRESIDENT PHONE CALL SAID THAT THERE'S A BRIEFING GOING ON AT ONE O'CLOCK.
THEY INVITED ME TO SPEAK ON, UH, ALL OF OUR TAX EXEMPTIONS AND, AND HAVE SUCCESSES OF THIS CORPORATION.
AND ALSO WE HERE, ONE OF OUR FORMER PROJECTS, WE HAVE THE GOOD HOMES, UM, PROJECTS.
I MIGHT HAVE TO LEAVE EARLIER.
SO DOES THE PROMPT CALL IS NICE ENOUGH TO DO THIS.
UH, FIRST, SO LOOKING AT THE BUDGET, YOU KNOW, WE, WE HAVE SEVERAL ITEMS HERE THAT CALL OUT.
SO BASICALLY BACKING UP, WE, WE'VE MET, I'M SORRY, UH, SAM, CAN WE MOVE UP THAT UP IN THE SLIDE? YEAH.
SO WE CAN SEE, EVERYONE CAN SEE IT ONLINE.
SO THIS, THIS APPROACH WE TOOK THIS YEAR IS A LITTLE D IN THE MATH YEAR, I THINK LAST YEAR, UM, WITH A THA Y'ALL TOOK THE APPROACH TO MAXIMIZE REVENUE POTENTIAL.
SO MINE'S A LITTLE MORE CONSERVATIVE.
SO WHAT I WANTED TO DO IS TAKE A LOOK AT ALL OF OUR POTENTIAL REVENUES UNTIL WE HAVE SEVERAL DIFFERENT AVENUES, RIGHT? WE HAVE THREE PROJECTS THAT WE GET CLOSING FEES AND, AND UPFRONT FEES FOR.
THEN WE ALSO HAVE OUR OPERATING PROJECTS THAT WE WILL GET, UH, LEASE PAYMENTS FOR, AND THEN AS THEY LEASE UP, WE'LL GET THE SECOND HALF OF OUR GENERAL CONTRACTOR FEE.
SO WHAT WE DID IS WE, WE LAID OUT ALL THE PROJECTS, WE LOOKED AT THE ONES THAT ARE IN OPERATION AND THAT WE WILL MOST CERTAINLY GET THE LEASE PAYMENT FROM.
SO WE COUNTED THOSE AS REVENUES, AND THEN WE LOOKED AT THE ONES THAT ARE VERY LIKELY TO CLOSE OR ALREADY HAD COUNCIL APPROVAL.
SO WE COUNTED CLOSE THESE ON THOSE ONES.
UM, BUT WE TRIED TO KEEP IT VERY, VERY, VERY CONSERVATIVE JUST BECAUSE I THINK MY PERSONAL PHILOSOPHY, I DON'T, I DON'T WANT TO COUNT ON ANY MONEY THAT WE'RE NOT GOING TO BE RECEIVING A HUNDRED PERCENT.
AND SO THAT'S KIND OF THE, JUST THE, UH, THE BASE ASSUMPTION THAT WE'RE USING HERE.
UM, ANY QUESTIONS ON, ON THAT APPROACH OR, OR WHY WE DID THAT OR, YEAH, THEN AGAIN, I, I DISLIKE TO BE CONSERVATIVE, ESPECIALLY FUNNY MOVING ON.
UM, THE APPROACH TO THE EXPENSES, WE BASICALLY JUST TOOK LAST YEAR'S BUDGETED NUMBERS, UM, TRIED TO MAKE A GOOD ESTIMATE OF WHAT WE COULD EXPECT TO FOR THIS YEAR, GAVE A HEALTHY BUMP, MAYBE FIVE POINT PERCENT, MAYBE LARGER IF THERE WOULD BE A LARGER EXPENSE EXPECTED.
UM, THE NEW ITEMS HERE ARE GONNA BE AN OFFICE EXPENSE.
AND THEN WE BUMPED UP THE CONFERENCE TRAINING AND TRAVEL EXPENSE BECAUSE I THINK I, I WANT TO EMPHASIZE TO Y'ALL, AS A BOARD WOULD BE VERY HELPFUL TO START GOING TO SOME OF THESE CONFERENCES AND GET EXPOSURE TO SOME OF THE INDUSTRY STANDARDS AND, AND JUST THE CURRENT EVENTS GOING ON.
I KNOW THE COUNTERPARTS AT THE HFC BOARD HAVE BEEN VERY, UH, VERY GOOD AT BEING ABLE TO GO.
NOW I KNOW EVERYBODY HAS JOBS AND EVERYTHING.
UM, YOU CAN'T ALWAYS MAKE IT, BUT I WANT THE MONEY TO BE THERE SO THAT YOU CAN DO IT.
SO THOSE WERE THE LARGE EXPENSE ITEMS. UH, AND AARON? SURE.
I'D LIKE THE RECORD REFLECT THAT, UH, DIRECTOR BLANKENSHIP HAS JOINED AND IT CAN BE COUNTED IN ATTENDANCE.
AND, UM, SAM ALSO IF YOU COULD, UH, GO TO THE NEXT SLIDE SO PEOPLE, UM, ONLINE CAN SEE THE OH, YOU DON'T, DO WE HAVE THAT ON? WE DON'T HAVE THAT ON THE SLIDES.
WE DON'T TYPICALLY PUT SUPPORTING MATERIAL ON THE, ON THE PRESENTATION.
THANK YOU, UH, AARON, AND CONTINUE.
UM, SO WE'VE MET WITH TREASURER HOLMES AND HE GAVE US A FEW COMMENTS.
UH, WE WE WHITTLED THAT DOWN AND THEN WE MET WITH THE FINANCE COMMITTEE AND THEY ALSO GAVE US SOME MORE COMMENTS AND SOME SUGGESTIONS.
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FINAL APPROVED VERSION OF, UH, WHAT WE'RE PROPOSING FOR THIS YEAR WITH THAT AND THE DETAILED YEAH.IN, IN REGARDS TO THE CONFERENCES AND THINGS LIKE THAT.
DO YOU ALREADY KNOW WHICH ONES IN 2026 YOU WOULD LIKE FOR BREAKFAST BOARDS OR, YEAH, I'M, I'M, YOU KNOW, I, I ATTEND SEVERAL.
SO THE BIG ONE THAT I WOULD REALLY LOVE FOR ALL YOU GUYS TO ATTEND AT BEGAN IS IN JULY EVERY YEAR.
IT'S CALLED TAP, IT STANDS FOR THE TEXAS ASSOCIATION OF, OR TEXAS AFFILIATION OF AFFORDABLE HOUSING PROVIDERS.
UH, WHICH ACTUALLY DARREN IS ON THE BOARD.
UH, BUT THAT COVERS SOUP TO NUTS, EVERYTHING THAT HAPPENS IN AFFORDABLE HOUSING IN TEXAS SPECIFICALLY.
IT'S VERY HELPFUL JUST TO SEE ALL THE DIFFERENT PLAYERS FROM LETTERS TO COMPLIANCE FOLK TO, YOU KNOW, OTHER MUNICIPALITIES, OTHER HFCS, OTHER PFCS, UM, DEVELOPERS.
WHO AM I MISSING? LAWYERS? YEAH, EVERYONE AND EVERYONE.
DID I MISSING ONE? NO, LOT OF LAWYERS.
YEAH, A LOT OF LAWYERS, UH, EQUITY GUYS.
SO I MEAN, UNTIL I STARTED GOING TO THESE CONFERENCES, IT WAS HARD TO PUT ALL THE PIECES TOGETHER.
AND I THINK IT WOULD BE VERY HELPFUL FOR ALL OF YOU.
NOT YOU ALL ARE ALL FORMIDABLE AND YOUR, AND YOUR KNOWLEDGE, BUT I THINK EVERY YEAR THERE'S SOMETHING NEW TO LEARN.
UM, AND IT'S, IT'S A GREAT PLACE, UM, JUST TO, TO LEARN MORE ABOUT WHAT WE DO.
AND IN THE INDUSTRY, HONESTLY, IT'S A GREAT PLACE TO NETWORK AS WELL.
WHEN IS IT? IT'S IN JULY, USUALLY THE THIRD WEEK OF JULY.
I THINK THIS SHIFTS THE 20TH TO THE 22ND.
DON'T QUOTE ME ON THAT, BUT AROUND THAT.
MARRIOT AT THE MARRIOTT DOWNTOWN.
SO PERHAPS, UH, WE CAN A LINK TO THE FULL BOARD MEMBERSHIP JUST SO PEOPLE FOR INFORMATIONAL PURPOSES SO THEY CAN LEARN ABOUT IT.
AND IF THEY WANNA CLICK ON A LINK, THEY CAN SEE WHAT IT IS.
THERE'S SEVERAL OTHER CONFERENCES, LIKE THERE'S THE, NOW THE CONFERENCES IN MAY.
UH, THERE ARE, YOU KNOW, WIDER RANGE OF THINGS LIKE A HF LIVE IS MORE OF A NATIONAL VERSION OF WHAT THEY DO AT TAP, WHICH IS GOOD TO GO TO THE SUIT IN NOVEMBER IN CHICAGO.
UM, AGAIN, THERE'S, THERE'S VARIOUS OPPORTUNITIES.
WE JUST PUT ENOUGH MONEY IN THERE FOR YOU ALL TO GO IF, IF YOU SO CHOSE.
AND, UH, ONE BRIEF REQUEST, UH, COMMENT, UH, LET THE RECORD REFLECT THAT, UH, DIRECTOR MARQUEZ, DISTRICT SIX HAS JOINED US ONLINE.
AND, UM, DIRECTOR PEL, DID THAT ANSWER YOUR QUESTION? YEAH.
ANY OTHER QUESTIONS OR COMMENTS ABOUT THE BUDGET? YES, SIR.
JUST WANTED TO THANK, UH, AARON AND SAM'S EFFORTS ON, UH, ON WORKING THROUGH THE BUDGET.
LIKE I SAID, WE DID EMPLOY KIND OF A DIFFERENT METHOD, UH, METHODOLOGY THAN WE USED WITH DIRECTOR TALLIS.
AND, UH, SO APPRECIATE THEM, UH, TALKING IT THROUGH WITH NOT ONLY MYSELF, BUT THE, UH, FINANCE COMMITTEE REPRESENTATIVES AND MAKING SURE THAT WHEN WE ARE, ARE PRESENTING A BUDGET.
AND THAT'S WHAT IT IS, UM, THAT, UH, WE ARE TRYING TO GIVE A VERY CONSERVATIVE ESTIMATE OF WHERE WE MAY FALL OUT FOR THE, FOR THE FISCAL PERIOD.
AND THAT WAY THIS BOARD, UH, WHEN WE LOOK TO, UH, USE OUR EXISTING CAPITAL TO TAKE ADVANTAGE OF ANY STRATEGIC OPPORTUNITY WE SEE WE ARE NOT, UH, OVER PROMISING AND OVER DELIVERING, BUT QUITE THE OPPOSITE.
SO, AS YOU KNOW, MOST OF OUR INFLOWS ARE VERY TRANSACTIONAL DRIVEN.
SO WHAT I CHALLENGED SAM AND, UH, AARON TO DO WAS, UH, BE CONSERVATIVE, UM, UH, AND, UH, YOU KNOW, OBVIOUSLY GIVE WEIGHT TO THE DEALS WE THINK WE WILL.
AND THEN LET'S, UH, LET'S NOT PUT ON THE BOARD ANYTHING THAT'S, YOU KNOW, OUT THERE IN THE ETHER AND LET'S SEE IT GET FURTHER ALONG.
SO, AGAIN, APPRECIATE, UH, ALL THEIR EFFORTS ON THE, ON THE BUDGET.
AND I'D LIKE TO MAKE A BRIEF COMMENT TOO, ON THE OFFICE EXPENSE.
CAN YOU GIVE US A BRIEF UPDATE YES.
ON, UH, THE POSSIBLE COST AND HOW THAT, UM, RELATES WITH COST SHARING AND SAVING THE TAXPAYERS MONEY BY COST SHARING WITH THE D-D-H-F-C? OF COURSE.
UH, SO OVER THE LAST COUPLE MONTHS, I'VE BEEN LOOKING AROUND FOR AN OFFICE SPACE SO THAT WE CAN HAVE MORE PERMANENT PLACE TO GET OUR MAIL AND, AND WORK FROM AND PERHAPS HOST ANY OF YOU ALL WHO WANNA COME AND JUST HAVE A SPACE TO, TO REVIEW ANY DOCUMENTS OR JUST, YOU KNOW, WORK IF, IF YOU SO CHOOSE, UH, AN WHOLE MEETING.
AND SO WE, I TOOK, UH, PRESIDENT AL AND, AND THE PRESIDENT OF THE HFC THROUGH A, UH, REALLY GOOD SITE, I THINK A WEEK OR TWO AGO.
AND, UH, THEY WERE, THEY'RE IMPRESSED WITH THE SIDE THAT SOME VERY, VERY GOOD CONFERENCING FACILITIES.
UH, NOTHING AGAINST THIS BUILDING, UH, BUT
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A LITTLE EASIER TO ACCESS.IT'S RIGHT OFF THE DARK LINE THERE OFF OF, UH, GREENVILLE AVENUE AND LOVER'S LANE OUT IN THAT AREA.
SO, YOU KNOW, WE'RE NOT, I LEAVE ANYBODY OUT AND, UM, I THINK IT'LL BE A, A VERY NICE, NICE PLACE TO CALL HOME FOR EVERYBODY TO, UH, HAVE THAT FOR A FEW YEARS AT LEAST.
UH, I WOULD HAVE TO ADMIT, UH, THE LOCATION IS VERY CONVENIENT RIGHT OFF.
YOU DON'T EVEN HAVE TO, IT'S NOT EVEN A, IT'S RIGHT ON CENTRAL EXPRESSWAY.
AT LOVER'S LANE, UH, THE LOVER'S LANE DARK STATION IS ON THAT CAMPUS, UH, WHICH IS VERY ACCESSIBLE FOR, YOU KNOW, IF WE DO HAVE PUBLIC MEETINGS THERE.
AND SO THAT, THOSE ARE SOME GREAT CRITERIA, UH, AS CEO AARON, I THANK YOU FOR VETTING, UH, YOU KNOW, THE SITES AND, UH, IF WE DECIDE IF YOU DECIDE TO CHOOSE THAT SITE, THEN, UM, UH, I APPRECIATE WHAT WHAT YOU'RE DOING AND YOUR, YOUR VETTING PROCESS.
MONTGOMERY, DO YOU HAVE SOME QUESTIONS ABOUT THE BUDGET? YEAH, JUST ON THE BUDGET, AARON, WOULD IT BE, WOULD IT BE WARRANTED TO HELP US FORECAST IF WE LOOK AT ONLINE FOR, UH, CLOSING, BECAUSE WE DON'T DO THAT RIGHT NOW.
THAT'S, IT'S NOT A WORTHWHILE CONVERSATION TO HAVE.
AND IT'S, IT'S SOMETHING WE'RE WORKING ON WITH STAFFING TOO.
LIKE PART OF IT IS WITH SOME MORE ASSET MANAGEMENT STAFFING, BECAUSE RIGHT NOW IT'S, WE HAVE ALL OF OUR, OUR PROPERTIES AND, AND WE HAVE OUR PIPELINE, BUT THEY'RE ALL IN VARIOUS STATES OF CONSTRUCTION, THEY'RE OPERATING.
SO WE'RE SETTING UP OUR STAFFING SO THAT WE'RE, WE'RE GONNA HAVE A MORE CONSISTENT REPORTING AND FORECASTING METHOD TO ACCOUNT FOR ALL OF THESE INTROS.
SO THAT'S IN THE WORKS, BUT YES, I, I CONCUR WHAT THEY'RE DOING THAT, YOU KNOW, I I'D LIKE TO BE MUCH MORE ACCURATE ON WHAT WE CAN EXPECT EVERY YEAR.
UH, JUST BE MORE UP TO DATE WITH, WITH THE CURRENT CONDITION OF THESE PROPERTIES.
SO THIS NEXT YEAR, I THINK YOU GUYS CAN EXPECT A LOT MORE ROBUST REPORTING ON AT A PROPERTY LEVEL.
YOU KNOW, WE'RE NOT GONNA GO THROUGH EVERY PROPERTY AT EVERY MEETING, BUT, YOU KNOW, IF YOU REQUEST IT, HOPEFULLY WE CAN HOST IT ON OUR WEBSITE AND, UH, JUST HAVE IT THERE.
BUT IS NOTHING GENERATES ACTIVITY LIKE A DEADLINE.
JUST TO FOLLOW UP WITH ANOTHER COMMENT, THE, UH, THE LEASE EXPENSES, JUST AS A REMINDER TO THAT, ANYONE LISTENING ONLINE ARE SHARED 50% BETWEEN US AND THE DHFC? CORRECT.
SO IT'S ANOTHER, UH, YOU KNOW, AS PART OF DALLAS BEING IN A CAN-DO CITY, IT'S ANOTHER WAY WE CAN, UH, DO WHAT WE CAN TO, UH, UM, SAVE MONEY AND SHARE EXPENSES WITH OUR, UH, SISTER ORGANIZATION.
I DOES ANY, ANY MORE COMMENTS OR QUESTIONS ABOUT THE BUDGET ONLINE? YES.
THANK YOU COMMISSIONER, UM, COM COMMITTEE MEMBER.
SORRY, UH, HAD A QUESTION CHAIR FOR, UM, THE BUDGETS I DID HEAR A LITTLE LONG, A LITTLE LATER THAN MOST, I APOLOGIZE.
UM, BUT WAS DID DISCUSS WHEN WE WERE PLANNING TO MOVE IN, DO WE HAVE A TIMEFRAME OF WHEN WE WANT TO BE IN THAT OFFICE OR HAVE THAT UP AND RUNNING? WE ARE IN DISCUSSIONS RIGHT NOW TO, UH, FINALIZE THE LEASE, BUT YOU KNOW, WE'RE STILL WAITING ON, ON A FINAL FORMAT, I GUESS.
SO DVD, BUT I, I WOULD EXPECT WITHIN THE NEXT MONTH OR TWO.
I WAS JUST CURIOUS, LIKE IF WE HAD LIKE A TIMEFRAME OF WHEN EITHER WE WANNA BE OUT OF THE CITY OR, YOU KNOW, VICE VERSA.
THANK YOU FOR ANSWERING THAT, AARON.
AND, AND JUST TO FOLLOW UP TO THAT REMARK, CAN YOU CONFIRM THAT, UH, YOU DID ASK, UH, THE CITY IF THEY HAD SPACE FOR US HERE AND IF THEY WOULD RENT SPACE TO US.
AND SO JUST SO PEOPLE DON'T THINK, UH, CAN YOU CONFIRM THAT PLEASE? THAT YOU DID ASK IF THEY HAD SPACE AND THAT THEIR ANSWER PLEASE? YEAH, THEY SAID THEY WEREN'T REALLY CONSIDERING THAT RIGHT NOW, AND SO IT WOULD PROBABLY BE A BETTER IDEA TO MEAN TO TEAR IT DOWN.
SO JUST SO YOU KNOW, WE DID OUR, Y'ALL DID YOUR DUE DILIGENCE.
WE DID OUR DUE DILIGENCE AND ASKED THE QUESTION ON IF YOU HAD SPACE FOR US HERE.
AARON, WE HAVE, UM, WHAT, JUST SURFACE PARKING THERE OR IS THERE A GARAGE OR THERE? APPLE PARKING, EVERYTHING.
THEY, THEY HAVE A, A LOT OF SURFACE PARKING.
THEY HAVE A GARAGE AND I THINK WE'LL HAVE SEVERAL RESERVED SPACES, UH, ATTACHED TO OUR, OUR LEASE IF WE SIGN UP THERE.
UH, AND AGAIN, IF YOU CHOOSE, YOU CAN EITHER PARK ON SITE OR YOU CAN RIDE IN DARK FROM DOWNTOWN OR VARIOUS PLACES, OR THERE'S ALSO A VERY CONVENIENT DROP OFF IF YOU WANT TO DO AN UBER THERE OR, OR JUST GET A RIDE FROM A FRIEND.
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I THINK IT WOULD BE PRETTY ACCESSIBLE TO THE PODIUM, AGAIN, THE MEETING SPACE WHERE WE WOULD HAVE THESE UNITS, UH, FIRST BOARD, VERY OPEN AREA, VERY EASY TO SEE WELCOMING.IT IS, IT IS A PUBLIC, IT'S, IT'S A VERY, UH, I'D SAY APPROPRIATE SORT OF VENUE FOR THE SECOND MEETING.
UM, SO IN SOME OF THE, UM, OR IN THE BRIEFINGS THAT THEY'VE DONE ON THE BYLAW CHANGES AND THINGS LIKE THAT, THERE'S A DISCUSSION AROUND THE CITY OF DATA STAFF CHARGING THE TWO ORGANIZATIONS, UH, FOR SOME OF THE WORK THAT THEY PERFORM OR THINGS LIKE THAT.
BUT IT WASN'T CLEAR ON WHETHER OR NOT, IF THAT'S A PRACTICE THAT'S ALREADY OCCURRING OR IF THAT'S A NEW PROPOSAL AND THERE'S NEVER BEEN ANY AMOUNT EITHER.
PREVIOUSLY THE STAFF WAS HOUSED WITH THE CITY HOUSING DEPARTMENT.
AND SO WHAT THEY WOULD DO IS JUST BUILD THE CORPORATION BACK FOR THOSE COSTS.
NOW THAT MOST OF OUR STAFF IS HERE, UM, THE ACTUAL CITY STEP COST IS PRETTY MINIMAL FOR WHAT THEY WOULD BILL US BACK FOR.
BUT, UH, I THINK THERE'S STILL, YOU KNOW, IF, IF YOU ALSO DECIDE TO MOVE THE EMPLOYEES BACK TO THE CITY HOUSING, I THINK YOU WOULD JUST REVERT BACK TO THAT.
IS THAT WHAT'S COVERED? LIKE IN THE ADMINISTRATIVE COST CATEGORY OR THE ADMINISTRATIVE COSTS? YEAH.
WHICH LINE ARE YOU LOOKING AT? OH, OKAY.
THAT IS, THAT'S NOT ALL THAT THAT WOULD INCLUDE.
I JUST DIDN'T GET A SENSE FROM ANY OF THE BRIEFINGS WHAT THAT AMOUNT IS SORT OF THAT.
SO RIGHT NOW IT'S ZERO TO THE CITY.
ON ZOOM, PREVIOUSLY, LIKE ALL OF THE SALARIES AND ALL OF THE BENEFITS, THEY WERE BILLED BACK TO THE CITY, RIGHT? BECAUSE THEY PROVIDED THE PAYCHECKS AND, AND EVERYTHING.
SO ALL OF THOSE COSTS WERE PASSED ON TO YOU ALL.
AND THEY, THEY PROVIDED INVOICE AND THEY JUST PAID THEM BACK, I BELIEVE.
I MEAN, I THINK THAT'S WHAT HAPPENED.
LIKE, UH, SAM AND SOPHIA AND, YOU KNOW, AND YOUR SALARY, YOU KNOW, WAS, WAS ALL SPLIT AND PAID FOR AND BILLED BACK, BUT THE CITY BILLED US FOR THOSE.
SO THE, THE ADMINISTRATIVE COSTS, SORRY, I'M LOOKING AT THE DETAIL HERE.
IT'S JUST WEBSITE MAINTENANCE, UM, BOARD EXPENSES, LIKE THE MEETING EXPENSES HERE, UM, DUES AND SUBSCRIPTIONS TO ANY INDUSTRY ASSOCIATIONS WE, WE ATTEND.
ANY OTHER QUESTIONS OR COMMENTS ABOUT ITEM NUMBER 11? I DON'T SEE ANY ONLINE.
DO WE? THIS IS A, A VOTING ITEM.
DO WE HAVE A, WE HAVE A IS UH, DO I SEE A MOTION ON THE FLOOR? SO MOVED.
MOVED BY A TREASURER SECOND LESSNESS, MY TREASURER HOLMES, SECONDED BY, UH,
LET THE RECORD REFLECT, UH, CANADA 13 IN FAVOR OF APPROVAL OF ITEM NUMBER 11.
NOW WE'LL MOVE ON TO ITEM BACK IN ORDER OF THE AGENDA.
ITEM NUMBER SEVEN, DISCUSSION AND APPROVAL FOR THE DPFC FINANCE COMMITTEE TO RENEGOTIATE TERMS FOR GOOD HOMES DALLAS, LOCATED AT 6 9 5 0 NORTH TIMON FREEWAY.
UM, AARON? YES, SO THIS, LET ME GIVE YOU A TIMELINE.
I THINK THIS PROJECT CAME TO US LAST YEAR, UM, AND YEAR BEFORE, THE YEAR BEFORE EVEN, I THINK IT WAS INITIALLY HEARD AND APPROVED IN MAY, I BELIEVE.
UM, TRIED TO REACH OUT TO CITY COUNCIL MEMBERS AT THAT TIME AND THEN
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THEY WERE ON RECESS, WEREN'T ABLE TO DO IT.FINALLY GOT THIS IN FRONT OF CITY COUNCIL, I BELIEVE IN NOVEMBER AFTER A HOUSING COMMITTEE MEETING THAT IT WAS DEFERRED ONE OR TWO TIMES AT, IF I RECALL CORRECTLY.
SO IT'S BEEN A DELAYED DELAY, DELAY BURDEN CITY COUNCIL.
AGAIN, KIND OF A ROUNDABOUT DISCUSSION THAT BEEN OF Y'ALL WATCH THAT MEETING AND IT, IT IS NOW BEEN REFERRED BACK TO THE FINANCE COMMITTEE THAT I'M LEAVING TO GO TO IN ABOUT 20 MINUTES.
AND SO ALL THAT BEING SAID, WE'RE TRYING TO JUST KEEP YOU ALL ABREAST OF THE CURRENT, I GUESS, UH, SITUATION.
I MEAN, YOU ALL HAVE APPROVED ONE SET OF MLU TERMS NOW BASED ON THE COUNCIL DISCUSSION, WE RECEIVED FEEDBACK TO KIND OF CHANGE AROUND SOME OF THE AFFORDABILITY DATES.
AND SO IT'S GOING FOR FINAL APPROVAL, I GUESS IF THEY ADVANCE IT THROUGH THE COMMITTEE TODAY AS GOING FOR FINAL APPROVAL NEXT WEEK ON THE 11TH.
SO THEN THEY WILL HAVE TO COME BACK TO THIS BOARD FOR A FINAL DOCUMENT APPROVAL OF THE HEAD SPINNING.
RIGHT NOW THERE'S A LOT OF APPROVAL, SAY THIS IS NOT THE NORMAL SITUATION, BUT WE JUST WANTED TO INCLUDE THIS TODAY SO THAT YOU ALL WOULD BE ABREAST OF, OF CHANGES.
I THINK WHAT WAS REQUESTED BY THE LOCAL COUNCIL MEMBER WAS THAT WE ACTUALLY REDUCED THE AFFORDABILITY AT THE PROJECT AND MORE MARKET RATE UNITS, WHEREAS YOU GUYS APPROVED THE INITIAL MOU WITH 85% OF IT BEING RESTRICTED.
THE LOCAL COUNCIL MEMBER SAID THAT IN THIS PARTICULAR COMMUNITY, HE SEES THAT THERE'S A LOT OF, UH, LOW INCOME FOLKS.
AND SO HE WANTS TO SEE A BUILDUP OF MORE MARKET RATE PEOPLE THAT TO, TO GIVE HIM A MORE DEPENDABLE, SOLID BASE OF, OF POPULATION.
AND IT, IT MAKES SENSE IN, IN SOME REGARDS.
AND SO WE'RE TRYING TO BE RESPONSIVE TO WHAT COUNCIL WANTS HERE.
UM, OBVIOUSLY WE ALL SERVE AT, AT THEIR PLEASURE.
AND SO THAT'S WHAT'S BEING PROPOSED NOW FOR APPROVAL NEXT WEEK.
AND SO IF THAT IS APPROVED, WE'LL HAVE TO BRING THOSE, UH, MODIFIED DOCUMENTS BACK TO YOU ALL FOR APPROVAL.
FOR CLARIFICATION, I DON'T THINK SUMMER BRICKHOUSE IS ONLINE.
UH, SO BASICALLY THE ASK HERE, AND CORRECT ME IF I'M WRONG, IS SO THAT IT, IF THIS DOES GO THROUGH A FEW MORE STEPS, IT IS APPROVED IN THAT INTERIM PERIOD, YOU ALL WOULD HAVE, UH, STAFF WOULD HAVE THE, AND UM, OUR ATTORNEYS WOULD HAVE THE AUTHORITY TO RENEGOTIATE AS OPPOSED TO WAITING UNTIL IT COMES BACK TO US TO NEGOTIATE.
BUT IN EITHER CASE, WE HAVE TO VOTE ON IT AGAIN.
EITHER CASE YOU HAVE TO VOTE ON IT AGAIN.
SO, I MEAN, YOU DON'T REALLY NEED TO DO THIS, LIKE YOU CAN JUST APPROVE WHAT THE COUNCIL PROVES.
BUT IF YOU WANNA MAKE SURE THAT THIS IS SOMETHING THAT YOU ALL ARE OKAY WITH AS WELL, UH, YOU CAN HAVE THAT INTERCEPT WITH THE SMALLER FINANCE COMMITTEE.
I DON'T KNOW IF THIS IS MAKING SENSE OR IF I'M JUST CONFUSED EVERYONE.
SO I'M ASSUMING THERE ARE TERMS THAT YOU'RE GONNA GO THROUGH WITH THE FINANCE COMMITTEE TODAY, RIGHT? AT A HIGH LEVEL.
LIKE WHAT, WHAT WAS THE AFFORDABILITY AND THEN ARE THERE, IF, IF WE DECREASE THE 30% UNITS, WHICH I THINK IS THE PROBLEM, WHICH IS IRONIC, UM, THEN PRESUMABLY WE WOULD HAVE OTHER REVENUE.
IS THAT ACCURATE OR, SO THE PLAN HERE IS ACTUALLY TO CONSERVE WITH 30% UNITS, BUT WE'RE GETTING RID OF ALL OF THE 80% AND JUST CHANGING 50% OF THE UNITS TO MARKET RATE, LIKE A STANDARD OKAY.
AND THEN DOING I BELIEVE 45% AT 60% I, AND THEN LEAVING IN THOSE 5% A THIRD.
AND I THINK WE'VE HEARD COMMUNICATIONS THAT THE COUNCIL MEMBER, THAT'S, THAT'S A MIX THAT HE WOULD BE MORE PLEASED WITH.
UH, WELL STILL CONCERNING THAT VERY DEEP BEFORE BILLY, THAT YOU GUYS REALLY LIKED AT THAT THE FIRST MEETING.
UM, WE'RE ALSO ADDING AS MUCH MARKET RATE AS POSSIBLE WITH THE PROJECT.
WHAT, WHAT WAS THE MIX BEFORE? IT WAS 5%? AT 30 IT WAS 5% AT 30, 10% AT 50, 30% 25 OR 25 AT 60, AND THEN 25 AT 80 I BELIEVE.
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WAS A TOTAL OF 85% OF THE PROJECT WAS, WAS RESTRICTED.SO IT IT'S THE DEEPEST YOU GUYS HAVE EVER APPROVED, OBVIOUSLY, RIGHT? YEAH.
WE HAVEN'T BEEN ABLE TO GET IT APPROVED AT COUNCIL, BUT UH, SO THAT ELIMINATES THE FIFTIES.
IT ELIMINATES, IT ESSENTIALLY MAKES THEM 60.
SO THE MINIMUM REQUIREMENTS OF THE STATE STATUTE ARE 40% AT 80 OR BELOW AND 10% AT 60.
SO YOU GUYS ARE STILL WELL BELOW THE MINIMUM REQUIREMENTS? WELL BELOW, UH, BUT NOT AS, NOT AS SLOW AS, UH, WHAT WE WERE TRYING TO GET.
IT'S UNFORTUNATE THAT WE, UH, THAT WE'RE IN A POSITION WHERE WE HAVE TO DECREASE THE NUMBER OF 50% UNITS.
UM, 'CAUSE I KNOW THAT'S IMPORTANT TO COUNCIL
YEAH, I I I WAS ON SEVERAL PHONE CALLS THIS WEEK.
IT'S LIKE, I NEVER THOUGHT I'D BE CALLING YOU ABOUT THIS, AARON, BUT WE WANNA DECREASE THE PORTABILITY
WELL, AND IT DOESN'T SOUND LIKE THE, THE, OTHER THAN MAYBE THE DIFFERENCE BETWEEN THE FIFTIES AND SIXTIES, IT DOESN'T SOUND LIKE THERE'S A REALLY AN OPPORTUNITY TO INCREASE THE REVENUE TO THE, THE CORE.
WE CAN, WE CAN TAKE A LOOK AT IT WHEN WE GET, THERE'S PROBABLY NOT MUCH THERE.
BUT AGAIN, YEAH, I WOULD LIKE TO TAKE A LOOK AT THAT TO THE EXHIBIT.
SO WHEN IT COMES BACK, UM, ONE OF THE, THE THING THAT'S RATTLING AROUND TO MY HEAD IS THE DIFFERENCE BETWEEN THE PREVIOUS, UM, INCOME RESTRICTIONS AND THAT DOLLAR AMOUNT, RIGHT? AND THEN THE, THE REVENUE.
AND THAT'S, THAT'S WHAT I WAS, I WAS HOPING TO DISCUSS AT FINANCE C IF YOU ALL WANT IT, BUT IF NOT, YOU KNOW, WE CAN JUST BRING IT BACK FOR A FINAL APPROVAL.
WHAT IS THE, WHAT IS THE DOWNSIDE? UM, IS THERE, WHAT IS THE DOWNSIDE OF GOING AHEAD AND GOING TO THE FINANCE COMMITTEE, DISCUSSING EVERYTHING WITH THEM? LIKE WHAT'S NOTHING, YOU KNOW, THEY DON'T, THEY DON'T HAVE TO APPROVE ANYTHING.
IT'S JUST KEEPING Y'ALL IN THE LOOP AS THIS CONTINUES TO TO CHANGE BECAUSE WE'RE, WE'VE NEVER DONE SOMETHING LIKE THIS BEFORE.
IT'S, IT'S BEEN A VERY WILD SITUATION WITH THIS PARTICULAR PROJECT.
UM, I HOPE TO PARTNER AGAIN, BUT MAYBE NOT HAVE THIS KIND OF DISJOINTED OF A, OF A PROCESS.
UM, BUT YOU KNOW, SOMETIMES THINGS ARE JUST UNIQUE AND SO THIS HAS BEEN ONE OF THOSE TIMES.
WELL, LAST, LAST QUESTION, I APOLOGIZE.
UM, WHAT'S THE CURRENT TAX, UM, TAX REVENUE TO THE CITY ON THE PROPERTY AS IS? I BELIEVE IT'S LIKE $60,000.
I'M NOT APPROXIMATELY, APPROXIMATELY $60,000.
'CAUSE THE, OUR OCCUPANCY IS PROBABLY, WELL I ZERO NOW 'CAUSE THEY ACTUALLY WENT, WENT AHEAD WITH THE PURCHASE AND OH, OKAY.
SO THEY PURCHASED THE PROPERTY NOW AND IT'S EMPTY AS OF MID-NOVEMBER, I THINK.
UM, AND WE'RE JUST WAITING ON, UH, A FINAL FROM COUNCIL SO THAT THEY CAN SECURE THE REST OF THE FINANCING AND, AND GET THE RENOVATIONS GOING AND, AND NEED THIS COMPLETED.
ANY OTHER QUESTIONS OR COMMENTS OR ITEM NUMBER SEVEN ONLINE.
DANNY HERE, SHALL WE MOVE ON TO A VOTE? DO WE HAVE A MOTION ON THE FLOOR TO APPROVE ITEM NUMBER SEVEN.
SO MOVED BY DIRECTOR BLACKMAN.
SIMPSON SIGNED BLANKENSHIP PROOF.
I APPROVE LAUREL STONE APPROVE.
UH, ITEM NUMBER SEVEN HAS BEEN APPROVED.
MOVING ON TO ITEM NUMBER EIGHT, DISCUSSION REGARDING UPDATES TO THE DALLAS HOUSING RESOURCE CATALOG AS PRESENTED TO THE HHS COMMITTEE ON 10 21 25.
[00:35:01]
UH, STILL IN PROCESS, SO I DON'T HAVE MUCH UPDATES.AARON, DO YOU WANNA DESCRIBE, UH, TELL, UH, INFORM THE, UH, BOARD AS TO THE UPCOMING EVENTS ON ITEM NUMBER EIGHT? YES, SIR.
SO THE ORIGINAL PLAN WAS TO TAKE THIS TO THE HOUSING COMMITTEE TODAY, BOTH THE HOUSING DEPARTMENT AND, AND OUR, OUR FOLKS WOULD HAVE SEPARATED TO DISCUSS.
OBVIOUSLY THAT GOT CHANGED WITH THE STORM CANCELING EVERYTHING LAST WEEK.
AND THEN THEY HAD A SPECIAL CALL MEETING AND NOW EVERYTHING FROM THE REGULAR MEETING WAS MOVED TO THE SPECIAL CALL MEETING, WHICH THEN GOT CANCELED THIS MORNING.
SO I DON'T KNOW WHEN THIS IS GONNA HAPPEN.
I'VE HEARD THE 23RD, THEY MIGHT HEAR THESE ITEMS. UH, WE STILL HAVEN'T GOTTEN FINAL, UH, PROPOSALS, BUT I'VE SPOKEN WITH THE HOUSING DIRECTOR.
IT SEEMS LIKE HE'S SOFTENED ON A LOT OF THE, UH, LARGEST STANCES, BUT I, I HAVEN'T SEEN THE FINAL FORM OF, OF WHAT THE PROPOSAL'S GONNA BE.
SO WE'RE STILL KIND OF IN A-A-T-B-D, UM, ON THIS, BUT I'M, I'M OPTIMISTIC WE CAN, WE CAN GET SOMETHING TOGETHER BEFORE THE 23RD.
I THINK THAT BOTH THE, WE'LL SPEAK FOR THE COUNCIL.
I THINK THE COUNCIL, I KNOW THIS BOARD WOULD LIKE TO HAVE A CITY STAFF SHOW US, GIVE US TIME TO PREPARE AND, UH, GIVE US A COURTESY OF SHOWING US SOMETHING, YOU KNOW, UM, FARM LONGER THAN A, YOU KNOW, THREE DAYS OR TWO DAYS IN ADVANCE IN THE MEETING.
UM, IF, WELL IT'S, IT'S IF WE CAN CONVEY THOSE TO STAFF AND SO THAT WOULD BE VERY APPRECIATED IF WE COULD SEE WHAT THEY'RE GOING TO SUGGEST EARLIER.
MOST DEFINITELY, MOST DEFINITELY WELL TAKEN.
AND ALSO I THINK FROM THE LAST MEETING THAT THEY PROPOSED SOMETHING THAT YOU ALL OBVIOUSLY OPPOSED, THE SENTIMENT FROM THE COUNCIL MEMBERS ON THAT COMMITTEE WAS THAT THEY JUST DIDN'T KNOW ENOUGH.
UM, AND SO WE'VE ACTUALLY BEEN WORKING WITH THE HOUSING DEPARTMENT TO TRY TO EDUCATE EVERYONE AND OBVIOUSLY IT'S A PROCESS YOU'VE HEARD OF VIDEOS.
SO THEY, THEY CAME UP WITH A COUPLE VIDEOS THAT, UM, I WAS ABLE TO WORK WITH THEM ON.
UM, AND THEN SAM AND SOPHIA AND THE HFC STAFF, WE HAVE, WE PUT TOGETHER THIS BROCHURE THAT WAS IN YOUR BOARD PACKET THAT WE'RE DISTRIBUTING TO THE COUNCIL MEMBERS JUST TO MAKE IT EASIER TO UNDERSTAND WHAT YOU ALL DEAL WITH EVERY DAY AND GIVE THEM JUST THE, THE ABILITY TO WRAP THEIR HEADS AROUND ALL THE, THE DIFFERENT DECISIONS THAT THEY'RE, THEY'RE GONNA MAKE HERE CONCERNING OUR PROGRAM.
AND DO YOU PERCEIVE THERE BEING ANY ACTION ITEMS NEEDED BY US BEFORE IF IT GOES ON, I'M NOT THE COMMITTEE BEFORE THE 23RD.
SO I MEAN, THAT WOULD JUST INCLUDE ON THE BRIEF IF THEY WANTED TO DISCUSS THINGS, THEY CAN DO THAT, BUT THERE'S NO REAL CHANCE TO SIGN UP AS A PUBLIC SPEAKER AT THE POINT WHERE THEY DO WANT TO BRING IT TO COUNCIL FOR A FINAL VOTE.
I THINK THAT'S WHEN I WOULD ENCOURAGE YOU ALL TO TRY TO TAKE SOME TIME TO SIGN UP AS A PUBLIC SPEAKER MAYBE.
AND IF THERE ARE ITEMS THAT YOU WANNA HIGHLIGHT THAT YOU KNOW YOU NEED YOUR VOICE HEARD ON, UH, THAT'S A VERY POWERFUL WAY TO, UH, MAKE SURE THAT THE FULL COUNCIL IS UNDERSTANDING OF YOUR VIEWS ON SOMETHING.
AND IF THIS IS APPROVED AT THAT MEETING, UM, WHEN DO YOU THINK THAT WOULD GO TO COUNCIL, THE NEXT COUNCIL MEETING? PULL UP THE CITY CALENDAR HERE.
SORRY FOR THE EXTRA QUESTIONS.
I JUST LIKE TO PUT THINGS ON MY CALENDAR,
IT SEEMS THAT THE INTERNET IN THE BASEMENT HERE IS NOT VERY FAST AND I CAN'T CALL THIS WEEK.
I'LL GET BACK TO YOU'ALL AND I'LL SEND OUT AN EMAIL IF WE GET A FINAL DATE IF IT WENT.
BUT AS FAR AS, YOU KNOW, HOUSING STAFF IS TAKING IT TO THE HOUSING COMMITTEE FOR A BRIEFING PRIOR TO, PRIOR TO THE COUNCIL APPROVAL? YES.
I I WOULD ASSUME SOMETIME IN EARLY MARCH IF IT'S ON THE FEBRUARY 23RD.
THE QUESTION I HAVE IS REALLY AROUND PROCESS IN TERMS OF, IS IT, UM, IT, IT WOULD SEEM TO ME THAT COUNCIL WOULD FIRST HAVE TO VOTE ON AND ACCEPT THE BYLAW CHANGES IN THAT DOCUMENT AS A WHOLE, AND THEN THERE'S A SECOND VOTE AT WHICH THEY WOULD BE INCORPORATING THOSE CHANGES INTO THE RESOURCE CATALOG.
SO IT'S, IF YOU'RE VOTING TO INCLUDE THEM INTO THE RESOURCE CATALOG, IS IT JUST ASSUMED THEN THAT YOU'RE ACCEPTING ALL OF THE CHANGES AS IS AT THAT POINT? 'CAUSE IT SEEMS LIKE, IT SEEMS LIKE TWO DIFFERENT STEPS.
I I, THAT'S A GOOD QUESTION BECAUSE I THINK YOU ALL HAVE PASSED BYLAWS THAT YOU WANT PROVE.
UM, BUT I THINK IF THE HOUSING DEPARTMENT WILL
[00:40:01]
MAINTAIN THAT, THEY STILL WANT AN EX OFICIAL MEMBER ON THEIR BOARD, OBVIOUSLY THAT'S A CHANGE THAT HAS TO BE ENACTED THROUGH THE BYLAWS.AND SO THAT WILL HAVE TO BE SOMETHING ELSE THAT'S, THAT'S APPROVED AT THE COUNCIL LEVEL.
SO THAT'S WHERE WE'RE KIND OF WAITING TO SEE WHAT THE FINAL RENDITION OF, OF THESE THINGS ARE.
NOW THAT'S KIND OF A, I THINK SOME OF THE HFC BOARD MEMBERS AND THEIR ATTORNEYS HAVE RAISED LEGAL QUESTIONS ABOUT WHETHER IT'S ACCEPTABLE FOR A CITY STAFF TO BE ASSIGNED TO A BOARD THAT'S AN EX OFFICIO MEMBER THAT'S KIND OF CONFLICT OF INTEREST, UM, CONCERNS.
UM, BUT AGAIN, THE, THE PROCESS AND THE HFC HAD THE SAME QUESTION AT THE BOARD MEETING A COUPLE WEEKS AGO.
SO I THINK IN THE CASE THAT YOU GUYS HAVE SOME SUSTAINED OBJECTIONS TO WHATEVER THE HOUSING PROPOSES, YOU CAN STILL TAKE YOUR PROPOSED STATEMENT DIRECTLY TO COUNCIL, EITHER THROUGH THE MAYOR'S OFFICE OR THROUGH A MEMO THAT FIVE COUNCIL MEMBERS HAVE SIGNED.
UM, AND, AND THEN YOU CAN GET A, AN ALTERNATIVE, IF YOU WILL, PROPOSAL ON THAT.
BUT AGAIN, I DON'T KNOW IF THAT WILL BE NEEDED OR, OR IF THAT'S, YOU KNOW, THE STRATEGY THAT'S KIND OF A, A FLUID SITUATION IS WE DON'T KNOW WHAT THE FINAL VERSION OF SOME OF THESE DOCUMENTS WILL BE.
DOES THAT ANSWER YOUR QUESTION? YEAH, I MEAN, IT JUST SEEMS LIKE THE, IT REALLY SEEMS LIKE IT NEEDS BE STEPS ME IN ORDER FOR YOU TO FULLY, IT WILL BE, IT WILL BE TWO SEPARATE PROOF.
SO IF IT'S JUST A MATTER OF I BELIEVE THAT THEY'RE UPDATING THE CATALOG WITHOUT AN ACKNOWLEDGEMENT THAT OF THE CHANGES YOU'RE MAKING.
AND I, YEAH, SO NO, YOU'RE, YOU'RE SPOT ON.
AND, AND AARON JUST, UH, YOUR UNDERSTANDING BETWEEN THE DIFFERENCE BETWEEN A LEADS LIAISON, AN EX OFFICIO, IS THAT AN EX OFFICIO PARTICIPATES IN EXECUTIVE SESSION? IS THAT THE ONLY DIFFERENCE? I THINK THAT'S PRETTY MUCH WHAT I CAN, I CAN, UH, BELIEVE FROM THAT.
BECAUSE WE, OUR, OUR CURRENT BYLAW, OUR CURRENT BYLAWS ALLOW FOR A LIAISON THAT FULLY PARTICIPATES IN THE MEETING, UM, ONCE WE HIRE A GENERAL MANAGER, WHICH WE DID SEVERAL MONTHS AGO.
AND SO I, I JUST, I FOUND IT CURIOUS THAT HOUSING STAFF DECLINED TO PARTICIPATE IN THESE LAST SEVERAL MEETINGS WHEN THEY HAVE EVERY RIGHT TO PARTICIPATE IN MEETINGS.
IT'S JUST THE ONLY, THE THE ONLY NEXT STEP THAT REALLY ASKING FOR AT THIS POINT IS JUST BEING AN EXECUTIVE SESSION.
I THINK WE'VE HAD ONE SINCE WE HIRED YOU.
SO IT'S JUST KIND OF, UM, I I FIND IT COUNTERPRODUCTIVE TO, UM, TO GET 80% OF WHAT YOU'RE ASKING FOR AND, AND NOT PARTICIPATE.
EVERYONE IS WELCOME ALL THE TIME.
ANY OTHER QUESTIONS OR COMMENTS ONLINE OR FROM HERE ON ITEM NUMBER EIGHT? VERY GOOD.
MOVING ON TO ITEM NUMBER NINE, DISCUSSION AND POTENTIAL AUTHORIZED APPROVAL OR REJECTION OF PROPOSAL RECEIVED AND RESPONSE TO THE DPFC REQUEST FOR PROPOSALS FOR SERVICES RELATED TO STATE AND LOCAL REGULATORY COMPLIANCE.
I BELIEVE THIS IS ABOUT BIDS RECEIVED, UH, SAM? CORRECT.
UM, SO I'LL GIVE A, I'LL GIVE A LITTLE RUNDOWN ON THIS.
UM, AT THE BEGINNING OF LAST YEAR, UH, THE BOARDS DESIGNATED TO THE FINANCE COMMITTEE THE RESPONSIBILITY OF ISSUING RFPS FOR TWO THINGS.
UM, CONSTRUCTION, UH, CODE COMPLIANCE MONITORING, UM, FOR OUR PROJECTS THROUGH, UH, CONSTRUCTION PHASE AND ALSO INCOME VERIFICATION COMPLIANCE.
AND WE SENT OUT, UH, TWO SETS OF RFPS.
THERE WAS, UH, 25 ON EACH, UH, RECIPIENTS OF EACH.
UM, AND WE GOT ONE RESPONSE BACK FOR THE CONSTRUCTION CODE OF AND TWO BACK FORTH THE, UH,
UM, THE, YOU KNOW, I, THE QUOTES WERE OLD, BUT I MADE SURE THAT THEY WERE STILL GOOD AND, UH, FOR THE CON CODE, UH, AND CONSTRUCTION, UH, MONITORING, THEY SAID, HEY, LIKE, PICK, PICK WHAT YOU WANT AND THEN HIT ME WITH THE CALENDAR.
SO STAFF WOULD, WOULD DEFINITELY MAKE SURE WE WOULD NEGOTIATE THAT DOWN QUITE
[00:45:01]
A BIT.UM, AND ON THE OTHER TWO, UH, I CHECKED WITH
UM, THAT BEING SAID, PROPOSALS, YOU KNOW, A LOT HAS HAPPENED IN THE LAST YEAR SINCE WE ISSUED THESE AND WE PROBABLY HAVE A BETTER IDEA OF WHAT WE WOULD WANT.
WE SENT OUT A PRETTY BROAD RFP, UM, ASKING FOR A WHOLE BUNCH OF STUFF.
AND I BELIEVE WE COULD POSSIBLY BRING THOSE DOWN IF WE HAD A DISCUSSION.
UH, AARON AND I AGREE ON THIS ABOUT POSSIBLY RETWEAKING THOSE, UH, YOU KNOW, AND, AND KIND OF BRINGING DOWN THE SCOPE OF WORK WE PROBABLY SET SAVE OURSELVES A GOOD CHUNK OF CHANGE.
UM, BUT HE WANTED, AARON ASKED ME TO ASK EVERYONE WHAT, WHAT YOU GUYS THINK ABOUT THE CURRENT, WHAT'S CURRENTLY IN FRONT OF YOU GUYS OR, UH, AND, AND SEE, GET Y'ALL'S THOUGHTS ON WHETHER OR NOT YOU THINK WE SHOULD FINE TUNE THE RFPS, UH, BEFORE MAKING ANY TYPE OF DECISION.
UM, SO SAM, YOU, YOU GOT TWO FOR COMPLIANCE MONITORING, YOU GOT ONE FOR, UM, CONSTRUCTION, RIGHT? CORRECT.
UM, SO WHEN, WHEN YOU, ARE YOU TALKING ABOUT CONSOLIDATING THEM INTO ONE, UM, INTO ONE CONSULTANT? NO.
UM, THAT WOULD BE TOUGH 'CAUSE IT'S, IT'S A LOT DIFFERENT.
THAT'S, THAT'S NOT WHAT WE WERE, UH, TALKING ABOUT DOING.
WE WERE TALKING ABOUT LIKE HONING IN LIKE TIMEFRAMES HOW OFTEN WE WANT STUFF DONE MM-HMM
UM, MAYBE THAT'S, UH, QUARTERLY CHECKUP ON THE, UH, ON THE INCOME VERIFICATION STUFF.
LIKE ALL LIKE LISA, YOU KNOW, AND, UH, YOU KNOW, IT WOULD BE CONSISTENT, BUT THEN AFTERWARDS, INSTEAD OF LIKE EACH MONTH DOING THAT, WE COULD STRETCH THAT OUT TO FOUR TIMES A YEAR.
AS OPPOSED TO LIKE EVERY MONTH NEEDING AN, AN UPDATE, WE COULD SAVE OURSELVES A GOOD CHUNK OF CHANGE.
UM, AND ON THE, ON THE CONSTRUCTION CODE SIDE OF THINGS, WE ONLY GOT ONE PERSON BACK, BUT THEY SET THE DOOR, THEY WERE FLEXIBLE, BUT LIKE, PICK AND CHOOSE WHAT YOU WANT.
HEY, COUNTER AND, AND WE CAN, WE CAN WORK TOWARDS FINDING SOMETHING, YOU KNOW, SOLUTION.
ERIC'S THOUGHT WAS, HEY, POSSIBLY REISSUE, HONING IN ON EXACTLY WHAT WE WANT AND POSSIBLY GETTING, YOU KNOW, THESE QUOTES TO COME BACK.
BEING SAID THOSE, I I THINK THE POLITICAL RISK IS PROBABLY GREATEST ON THE FRONT END, THE CONSTRUCTION MANAGEMENT.
BUT I, I THINK OUR REAL RISK IS PROBABLY GREAT ON THE COMPLIANCE COMPONENT.
UM, SO CAN, WHAT, WHAT KIND OF CHANGES ARE YOU SUGGESTING ON THE COMPLIANCE COMPONENT ON THE RP? WELL, RIGHT NOW IT'S, IT'S LIKE A CONSISTENT LIKE LEASE UP THROUGH, UH, STABILIZED PRODUCT.
AND, AND WHAT WE WOULD NEED FROM BOTH OF THOSE IS, IS OBVIOUSLY DIFFERENT.
UM, BUT RIGHT NOW WE HAVE LIKE ONE PRICE KIND OF FITS ALL MODEL.
AND AARON WAS SUGGESTING THAT WE KIND OF FINE TUNE WHAT WE'RE LOOKING FOR, UH, BEFORE LIKE MAKING A DECISION.
BUT HE WANTED EVERYONE ON, EVERYONE ON THE BOARD.
IT'S OBVIOUS IT'S THE'S DECISION.
HE WANTED TO GET EVERYONE'S THOUGHTS ON WHETHER OR NOT WE SHOULD, YOU KNOW, VOTE ON SOMETHING TODAY OR WHETHER OR NOT WE SHOULD FINE TUNE IT BACK DOWN.
AND WE, IN THE CONVERSATION AARON AND I HAD THAT WAS FOR, UH, THE CODE COMPLIANCE STUFF IS EXPENSIVE TO BE COMING OUT POCKET, LIKE THE CONSTRUCTION SIDE OF THINGS.
MOVING FORWARD, WE PUSH THIS EXPENSE ONTO OUR, OUR DEVELOPMENT PARTNERS IF IT'S NOT EGREGIOUS AND NOT NOT BUSINESS.
AND AARON WAS SAYING THAT PROBABLY FIVE TO 800 BUCKS A MONTH WOULD BE LIKE ABSOLUTE TOPS THAT DEVELOPER'S NOT GONNA START REALLY WINDING WELL AND THAT THAT'S CONFIDENT.
AND UH, THE QUOTES, WE GOT THE QUOTE, THE ONE QUOTE WE GOT ON IT WAS LIKE, FOR LIKE A VERY IN DEPTH EVERYTHING KIND OF THING, AND IT WAS LIKE OVER TWO GRAND, BUT THERE'S, HE SAID, HEY, HERE'S WHAT WE CAN DO.
AND THAT'S ON THE FRONT END STUFF YOU'RE TALKING ABOUT.
SAID HERE'S WHAT WE CAN DO IS LET YOU GUYS PICK AND THEN HIT US WITH A A COUNTER ON THAT.
AND WE CAN, WE CAN WORK ON SOMETHING.
THAT SEEMS LIKE THE, THE RIGHT APPROACH ON, ON THAT ONE.
WHAT ABOUT THE, UH, COMPLIANCE MONITORING THOUGH ONE IS DIFFERENT BECAUSE YOU'RE RIGHT, WE CAN POLITICALLY IN THE NEWS, WE CAN MESS UP MORE ON, ON THE CONSTRUCTION STUFF.
WE COULD LOSE PROJECTS ON THE BACK END.
[00:50:01]
PIECE IS FAR MORE SERIOUS IN THE BIG SCHEME OF THINGS.IT DOESN'T CARRY THE SAME POLITICAL RISK EXACTLY.
THAT IT STINKS MORE FOR A LONG PERIOD OF, IF WE MESS UP ON THAT AS OPPOSED TO LIKE, OH MAN, WEARING A BOOTS.
UM, YEAH, LOSE YOUR TAX EXEMPTION ONE.
AND I KNOW THERE'S A CURATIVE PERIOD, BUT LIKE IT BECOMES AN ONGOING ISSUE.
IT'S NOT, IT'S NOT SOMETHING WE WANNA DO.
RIGHT NOW THE HOUSING DEPARTMENT DOES, UH, DO COMPLIANCE, INCOME COMPLIANCE MONITORING.
I'M NOT, SOPHIA AND I WERE INVOLVED WITH THAT.
UM, SO I CAN TELL YOU IT'S, YOU KNOW, IF, IF SOMEONE'S GONNA BE DOING IT, I THINK HIRING SOMEONE ON THE OUTSIDE TO DOUBLE CHECK AND HAVING AN ADDITIONAL LAYER IS THE CALL FOR FOR SURE.
UM, EVEN IF IT ISN'T DUPLICATIVE BEAR EFFORT, THE, UH, HONEST COMMITTEE, LAST TIME WE WENT ABOUT THIS INTO THE CONCLUSION, RECOMMEND BOARD DO THIS BECAUSE AS THE SEPARATION'S HAPPENING, WE SHOULD BE TAKING AS MANY OF THE RESPONSIBILITIES ON SALES AS WE CAN.
SO WHILE THE, UH, WE DO HAVE TWO GOOD BUGS, TWO GREAT COMPANIES, ONE LOCAL ONE, ONE BIG DOG, YOU KNOW, UM, WHO'S THE BIG DOG? NO PAGE.
DOESN'T SEEM LIKE A GOOD, SO, AND I TAKE IT ANA IS THE, THE LOCAL, THEY'RE, THEY, THEY'RE LOCAL PRESENCE.
SO WE HAVE, YOU KNOW, TWO, TWO GREAT OPTIONS ON THAT FRONT.
UM, AND IT, IT, I DON'T THINK EITHER ONE WILL CHANGE MUCH IF WE GO BACK IN AND SAY, HEY, WE NEED TO, YOU KNOW, FINE TUNE THIS RFP AND SEND IT BACK TO YOU.
I THINK WE COULD ADJUST THE PRICES, BUT THAT BEING SAID, RIGHT NOW WE'RE GONNA BE EATING, EATING THE COSTS AND IT'S A SIGNIFICANT COST.
SO SINCE REALPAGE ISN'T HERE, MAYBE UM, ANO, UH, CAN TELL US, UH, ABOUT THE, SO ARE YOU FAMILIAR WITH THE, THE CHANGES TO THE RFP THAT, THAT SAM AND, UH, AND AARON ARE TALKING ABOUT? THIS IS ENTIRELY INTERNALLY THIS PAST WEEK THAT WE
I JUST MADE SURE I TOUCHED BASE WITH DARREN.
UM, AND MADE SURE THAT THE QUOTE WAS STILL CURRENT.
AND I, I HAD TALKED TO A REAL PAGE AND I SAID NO.
HAVE CONVERSATION, SOPHIA AND I JAMMED ON THAT.
WE GOT THEM TO SEND A NEW QUOTE.
SO ARE YOU ASKING FOR HIM TO, TO PROVIDE A LITTLE ADDITIONAL CONTEXT? WELL, I THOUGHT YOU WOULD'VE IF HE'S, HE'S BE FAMILIAR WITH THE, THE NEW RFPS? NO, WE, WE, AARON AND I JUST STARTED TALKING ABOUT THIS WHEN WE, WHEN IT CAME DOWN TO PRICE, WE WERE TALKING ABOUT THE PRICE FOR US AND, UH, FOR THE PFC TO, TO COVER.
AND WE CAN'T PUSH THAT ONTO OUR, OUR DEVELOPMENT PARTNERS FOR OUR EXISTING PROPERTIES THAT WE ONLY SIGN DOCUMENTS ON.
BUT IT COMES DOWN TO LIKE, I MEAN LIKE OVER $250,000 AND THEN, UH, MORE FOR, FOR LOCALIZED EXPERTISE.
SO IT'S, IT'S SOMETHING THAT IF WE CAN CUT SOME OF THE STUFF OUT, WE WOULD LIKE TO RIGHT.
MAYBE ONLY MONITOR, UH, OUR INCOME.
SO, SO WHAT'S THE, I'M SORRY, WHAT'S THE ASK HERE? THE, UH, STAFF ASKING TO RECOMMENDING THAT WE, UH, WE'RE ASK, WE'RE ASKING FOR YOU GUYS TO, TO, TO HELP US COME TO A CONCLUSION ON WHETHER WE'RE GONNA VOTE ON, ON THESE TODAY OR IF WE SHOULD TAKE IT BACK TO ANY OF THE COMMITTEES AND FINE TUNE WHAT WE'RE LOOKING FOR, UM, WITH THE RFPS.
YES, BUT WOULDN'T WE HAVE THE PRODUCT IN FRONT OF US, THE RFP, SO THAT A PARTICULAR COMMITTEE AND THEN, UH, LOOK AT THAT AND BEGIN TO SAY, HEY, YOU KNOW, MAYBE WE KEEP THIS, MAYBE WE KEEP THAT OR STREAMLINE CERTAIN THINGS MAYBE, I DON'T KNOW, REWORD, BUT COME DOWN TO A CERTAIN NUMBER PAGES, BUT WHATEVER THE ACTIONS ARE BEING REQUESTED, MAYBE THAT PARTICULAR COMMITTEE, UH, OTHER THAN MAKING A JUST A, A VOTE HERE TODAY, SOMETHING THAT I DON'T EVEN KNOW ANYTHING ABOUT, SO TO SPEAK, BECAUSE I DON'T HAVE ANYTHING THERE TO EXAMINE.
SO WOULDN'T A COMMITTEE BE ABLE, WOULDN'T THAT BE THE BETTER WAY TO GO, AS FOR A COMMITTEE TO LOOK AT THAT? YES.
UH, I, I THINK THAT GIVEN THAT SOME OF THESE CONVERSATIONS HAPPENED INTERNALLY WITHIN THE PAST WEEK,
[00:55:01]
THAT, PARDON ME, BUT THAT, UH, BECAUSE THIS WAS ORIGINALLY WITHIN FINANCE THAT WE PROBABLY NEED TO TAKE, I WOULD, I WOULD TAKE, I PROCEDURALLY, I'M NOT SURE IF WE NEED TO TABLE THIS AT THIS POINT, BUT I THINK WE NEED SOME REWORK BECAUSE THERE, WE'VE HAD SOME CHANGE IN LEADERSHIP IN FINANCE, AND IF STAFF IS SET TELLING US THAT THEY WOULD LIKE AN OPPORTUNITY TO MAYBE TWEAK OR LOOK AT IT, THEN WE CAN DO THAT.AND THEN TO, UH, DIRECTOR STINSON'S COMMENTS, WE CAN PACKAGE THIS APPROPRIATELY FOR THE LARGER BOARD'S CONSIDERATION.
AND, UH, UH, WE CAN HAVE A COMMITTEE, UH, UH, RECOMMENDATION POTENTIALLY AS TO THAT.
I DON'T KNOW WHAT, UH, UH, OBVIOUSLY I'M DIRECTOR TOLEDO DIRECTOR COUNSEL ON THE, UH, AND ASKED ME WHAT THEIR THOUGHTS, BUT IT SOUNDS LIKE THIS NEEDS SOME MORE WORK BEFORE WE DO AN UP DOWN VOTE, UH, AT LARGER COUNCIL.
DO WE, I THINK, DO WE HAVE ANY, UH, FORMALLY DO WE HAVE ANY OBJECTION THEN TO REMANDING THIS TO FINANCE COMMITTEE TO ALLOW THE TREASURER AND THE FINANCE COMMITTEE DO WHAT, UH, DIRECTOR HOLMES JUST, JUST MENTIONED? NO, OBJECTION.
UM, WHAT IS YOUR, UM, WHAT IS YOUR CONCERN WITH COMPLIANCE? UM, WELL, FIRST AND FOREMOST, WE HAVE TO COMPLY WITH STATE LAW TO KEEP THE EXEMPTION.
AND, UH, A LARGE PART OF WHAT THE COMPLIANCE MONITORING DOES IS FIRST AND FOREMOST VERIFY INCOME AND MAKE SURE THAT, UM, MAKE SURE THAT THE DEVELOPER IS COMPLYING WITH THAT.
BUT THEN THE REGULATORY AGREEMENT HAS, HAS OTHER THINGS THAT, UM, THAT THEY'LL CHECK FOR TOO.
AND THE, THE ULTIMATE POINT IS TO MAKE SURE THAT WE COMPLY WITH THE LAW AND FEEL FREE IF, IF I'VE MISSED SOMETHING, UM, DARREN FEEL FREE TO, TO JUMP IN, BUT MAKE SURE WE COMPLY WITH THE LAW BECAUSE, YOU KNOW, THE DEATH NAIL FOR ANY OF THE COURTS IS LOSING THE TAX EXEMPTION.
AND I'M AWARE OF PFC PROPERTIES NOT HERE, BUT OTHER PFC PROPERTIES THAT, UM, DID SUBMIT THAT WEREN'T CLEAN AND NOW HAVE THEIR EXEMPTION AND, AND, UM, QUESTION AS IT WERE UNTIL THEY COME IN INTO COMPLIANCE.
UM, SO HAVING SOMEBODY UP FRONT, UM, CAN REALLY AVOID THAT.
IT'S ONE OF THOSE THINGS YOU WON'T SEE UNTIL YOU LOSE THE EXEMPTION AND IT'S TOO LATE.
UM, AND, AND THAT'S A HUGE BLACK EYE FOR EVERYBODY INVOLVED.
UM, SO, YOU KNOW, THE, THE FRONT END STUFF, THE CONSTRUCTION THING, THAT'S CODE AND PEOPLE ARE GONNA SEE THE, THE CITATIONS AND STUFF, AND IT'S, IT DOES HAVE A BIGGER POLITICAL RISK, BUT I THINK THE REAL BUSINESS RISK IS ON THE, THE BACK END WITH COMPLIANCE, WHICH IS ONE OF THE REASONS I, I'M SO ADAMANT ABOUT, UM, DEALING WITH THIS BEFORE WE GO TO, TO COUNCIL AND HAVE THESE CONVERSATIONS ON THE BYLAWS AND THE OTHER THINGS.
I THINK THIS IS AN IMPORTANT THING TO HAVE BUTTONED UP, UM, AS PART OF THOSE CONVERSATIONS.
SO THAT'S, THAT'S, THAT'S MY CONCERN.
I MEAN, YOU GOTTA, WELL, I MEAN, NO, IT'S A, IT'S A GOOD, IT'S A JUST A LEGITIMATE
JUST, UH, HAVING DONE THIS NOW SINCE THE PROGRAMS HAVE BEEN UNDER SCRUTINY AND PRIOR, UM, WE'VE GOT DIFFERENT TYPES OF CLIENTS, UM, PERFORMING A TO Z FOR A CERTAIN BATCH, AND THEN SIMILAR TO WHAT SAM IS, IS KIND OF MAYBE RECOMMENDING, WHICH IS PERIODIC CHECKS, UM, AND REPORTING.
AND IN OUR EXPERIENCE, WHAT WE FOUND IS THOSE PERIODIC CHECKS ARE JUST WHAT THEY ARE, BUT WHEN YOU GO THROUGH AN AUDIT, YOU'RE NOT CATCHING EVERYTHING ON A PERIODIC CHECK.
AND WITH THE INFLUX OF FREQUENT INFORMATION REQUEST, WHICH THIS BODY WOULD BE SUBJECT TO IN THAT PROPERTY, COULD BE SUBJECT TO, IF YOU CAN'T PROVIDE THE EVIDENCE THAT YOU ARE WITHIN YOUR REGULATORY AGREEMENT REQUIREMENTS, IT DOESN'T MATTER HOW YOUR TDHC AUDIT GOES.
AND SO WE HAVE SEEN THAT IN A COUPLE MUNICIPALITIES WHERE THEY COULDN'T PROVIDE THAT CONCRETE EVIDENCE THAT THEY MET THEIR REGULATORY AGREEMENT REQUIREMENT, AND HENCE THE CHALLENGE OF THE TAX POSITION.
SO I HAVE A QUESTION TO SAM TODAY.
HOW DO WE INCOME VERIFY? DO WE INCOME, VERIFY, DO OUR PARTNERS INCOME, VERIFY OUR PARTNERS ARE IN INDEPENDENTLY MANAGING THE PROPERTY AND, UH, VERIFYING THE INCOME OF, OF EACH TENANT, UH, YOU KNOW,
[01:00:01]
ON, ON A REGULAR BASIS.AND THEN THE CITY PROVIDES COMPLIANCE OVERSIGHT.
UM, IT'S KIND OF A MOVING TARGET FOR THEM.
IT WAS A MOVING TARGET FOR A WHILE.
I'M NOT SURE HOW THAT'S GOING.
UH, BUT IT WAS NOT A CONCRETE PROCESS WHEN WE WERE STILL AT THE CITY.
WE HAD SET IT OUT, UH, THEN WE WERE HELPING THEM WITH SOME LEASE UP STUFF, BUT IT JUST WASN'T, UH, IT WAS NOT FULLY BAKED BY ANY MEANS.
SO I UNDERSTAND THE URGENCY THAT, THAT, UH, DP MONTGOMERY HAS ON THIS.
UM, BUT RIGHT NOW DPFC STAFF CURRENTLY HAS NO REAL INTERACTION WITH IT OTHER THAN SEEING RENT ROLLS.
BUT THAT'S A VERY SMALL PART OF THE PROCESS, UH, FOR, YOU KNOW, FOR, YOU KNOW, MONITORING.
UH, YOU KNOW, OUR, OUR INCOME VERIFIED, OUR, OUR INCOME RESTRICTED UNITS, WE'RE NOT REALLY GETTING ANY VERIFICATION TOUCHED ON IT.
AND THAT WAS THE THOUGHTS OF, OF THE FINANCE COMMITTEE THE LAST TIME WAS, OKAY, EVEN IF IT'S A TYPICALLY GOOD EFFORT, WE NEED, WE NEED TO BE SEEING THAT AS A, TO BE A GOOD PARTNER AND TO NOT GO OUTTA BUSINESS BECAUSE I NOT PAYING PATRICK AGREE IT'S A FIDUCIARY RESPONSIBILITY.
UM, IT HAD BEEN MY UNDERSTANDING THAT OF COURT OKAY.
OF COURSE, THAT WE WERE RECEIVING THAT INFORMATION.
SO YOU'RE SAYING YOU, THE INFORMATION WE'RE GETTING CANNOT NECESSARILY BE VERIFIED AND THERE ARE GAPS HERE, BUT, UH, IN THE RFP, CAN'T THAT BE ONE OF THE REQUIREMENTS THAT EVERY QUARTER PER SE, I DON'T KNOW THAT WE NEED, WE NEED A LISTING OF EACH AND EVERY TENANT FROM EVERY, UH, PROJECT, BUT, UH, COULDN'T THAT BE ON THE DEVELOPER THAT THEY PROVIDE QUARTERLY REPORTS TO US STATING THAT THEY HAVE VERIFIED, UH, THE, THE, UH, REQUIREMENTS OR THE DIFFERENT RESTRICTIVE, UM, TENANT THAT WE PUT OUT? SURE.
WE OTHERWISE IT FALL BACK ON YOU.
WE COULD DO THAT MOVING FORWARD.
UM, BUT WELL, THAT'S ONE, JUST ONE QUESTION.
I'M ASKING, UH, ESPECIALLY BASED ON WHAT, UH, DIRECTOR LOMBARDI ASKED TOO, BUT THAT'S JUST ONE, ONE QUESTION, UH, IN THAT EITHER WE WOULD HAVE TO DO THAT OR THEY WOULD HAVE TO DO, I DON'T REALLY SEE ANYBODY OTHER THAN HIRING SOME PRIVATE COMPANY DO IT.
SO THAT'S WHERE I SEE A LOT OF EXPENSES, RIGHT.
OR, OR HIRING MORE PERSONNEL FOR THE STAFF, WHICH THAT, THAT WAS, THAT WAS PART OF AARON'S DISCUSSION WAS, YOU KNOW, LOOKING INTO AN ASSET MANAGER ROLE WHO CAN DO SOME OF IT, BUT LIKE, HAVE THIS COMPANY HELP COLLECT THE INFORMATION AND, AND PROVIDE AN INITIAL REPORT.
THE, THE DEVELOPER'S ALWAYS GOING TO BE DOING THIS BECAUSE THEY DON'T WANT TO FAIL THEIR P-D-H-C-A ANNUAL REPORT.
THAT BEING SAID, UH, I, I WONDER IF THEIR LENDERS ARE REQUIRING IT.
IF I WAS, OH, IF I WAS A LENDER ON A $50 MILLION DEAL, I WOULD REQUIRE, OH, YOU NEED TO BE IN COMPLIANCE WITH THIS.
LET ME SEE 'EM, YOU KNOW, THAT'S, THEY'RE THE ONES WITH THEY HAMMER, RIGHT? UNFORTUNATELY.
UNFORTUNATELY, ALL THEY ASK FOR IS A, A CERTIFICATION CALLED A CONTINUING COMPLIANCE CERTIFICATE.
REALLY? THEY DON'T ASK YOUR W TWOS OR TWO 90 NINES.
I'VE CLOSED ABOUT 50 OF THESE AND I'M ALWAYS AMAZED.
I, YOU KNOW, THAT'S GOOD INSIGHT.
I'M GLAD YOU'RE HERE FOR MY TIME.
WE DIDN'T ASK FOR ANYTHING EVEN, WELL, PEOPLE QUALIFY FOR A UNIT.
HOW DO THEY DO THAT? DO THEY HAVE TO LAY OUT? YEAH, THEY HAVE TO MOVE THEIR INCOME, YOU KNOW, CHECK, UH, PAY STUBS, UM, UH, BANK STATEMENTS.
UH, DARREN, I'M NOT SURE IF YOU HAVE ANY, ANY OTHER
WE NEED TO HAVE SOMEBODY, UH, THE CAMERA THAT NEEDS TO SEE US.
UM, DARREN SMITH WITH
SO THE DISCONNECT IS, IT'S, IT'S KIND OF THE FOX WATCHING THE IN-HOUSE.
[01:05:01]
YOU'VE GOT ONSITE STAFF WHO ARE MOTIVATED TO LEASE THE PROPERTY UP.AND THEN YOU'VE GOT AN OWNER WHO, WHILE HE'S WEIGHING HIS TAX EXEMPTION ON ONE HAND, HE'S ALSO GOT A DEBT SERVICE ON THE OTHER
AND SO THERE ARE TIMES WHERE THOSE TWO THINGS DON'T NECESSARILY MESH AND YOU DON'T GET ALL THE SUPPORTING DOCUMENTATIONS THAT YOU NEED, ALL THE SUPPORTING DOCUMENTS THAT YOU NEED IN ORDER TO MEET YOUR REGULATORY AGREEMENT REQUIREMENTS.
UH, AND SO YOU GET MAYBE A PARTIAL FILE AND THEN THAT TENANT LEAVES AND THOSE OUT AND YOU CAN NEVER COMPLETE THAT FILE.
SO YOU CAN NEVER CERTIFY THAT UNIT.
SO OUR BEST CLIENTS, AT LEAST FROM AN AUDIT PERSPECTIVE WITH T-D-H-C-A AND FROM A, FROM A, A PUBLIC INFORMATION REQUEST, UH, OR FOIA, IT'S REALLY MONTHLY COMPLIANCE AND QUARTERLY REPORTING.
SO WE'RE ENSURING ON A MONTHLY BASIS THAT THOSE PEOPLE THAT SAY THAT THEY ARE, THAT THE LEASING STAFF IS SET THERE, CERTIFIED AND QUALIFIED, REVIEW THAT DOCUMENTATION, BOOM, CHECK THAT BOX.
IF THEY'RE MISSING A PIECE OF PAPER, WE SEND THAT A NOTE BACK TO 'EM SAYING, GET THIS FILLED OUT.
IT'S, IT'S ALWAYS A RACE TO TRY TO GET THE INFORMATION BEFORE A TENANT LEAVES, BECAUSE IF THAT TENANT LEAVES AND YOU DON'T HAVE A COMPLETE PACKET, THAT UNIT HAS NEVER BEEN CERTIFIED.
SO THAT'S WHY KIND OF A SPOT CHECK THING, IT DOESN'T REALLY WORK BECAUSE IF YOU LOOK AT TDHC AUDIT, IT IS 10% OF THE FILE, UH, NO MORE THAN 20% OF THE FILES AND 10% HAVE TO BE RESEARCHED, BUT NO MORE THAN 50 FILES.
SO YOU REALLY JUST GRABBING A BALL OUT OF THE BINGO MACHINE.
AND EVEN IF YOU PASS THAT AUDIT, THERE ARE CERTAIN REQUESTS FROM CERTAIN PEOPLE ON FOR YOUR PERSPECTIVE THAT YOU GOTTA BE ABLE TO BACK THAT UP.
SO I, I HAVE, I CAN'T SAY THEY'RE GOOD OR BAD DEVELOPERS, I WOULD SAY PEOPLE ARE HUMAN.
AND THEN WHEN YOU HAVE A MANAGER CHANGE, YOU GOTTA START ALL OVER AGAIN BECAUSE YOU GOTTA TRAIN THAT MANAGER OF NOT, IT IS NOT YOUR TYPICAL MARKET RATE, UM, EVALUATION OF IF A TENANT'S ELIGIBLE TO LIVE THERE OR NOT.
THERE ARE OTHER REQUIREMENTS THAT TYPICALLY MARKET RATE MANAGERS AREN'T READY FOR.
AND SO WE ALWAYS KNOW WHEN THERE'S A CHANGE IN A, IN A MANAGER, BECAUSE WE DON'T GET OUR DOWNLOAD ON A MONTHLY BASIS.
AND THEN WE HAVE TO MAKE A PHONE CALL AND SAY, OKAY, YOU DIDN'T SEND THIS, WHERE ARE WE IN FEBRUARY? YOU DIDN'T SEND THIS JANUARY INFORMATION YET? OH,
UM, LET'S SAY, UH, I HAVE, UH, 400 TENANTS UNITS, AND SO THEREFORE, WELL, I'M THINKING OLD SCHOOL, THERE ARE FILES
I JUST PULL, SAY, OKAY, LET'S MAKE THIS EASY.
I I PULL 50% AND WE GO OVER THAT.
BUT, BUT NOW ARE MOST TENANTS GETTING A LEASE FOR A YEAR OR DO THEY STILL HAVE THE SIX MONTHS OR WHATEVER? IT VARIES.
THE, THE, THE SIMPLEST WAY WOULD BE TO SIGN A YEAR LEASE.
'CAUSE THEN YOU'D HAVE TO REDO YOUR PAPERWORK AND IT VARIES.
SO LET'S SAY THAT THEY GOT THE YEAR, BUT NOW ONCE I VERIFY SOMEONE, OR PARTICULAR, WHETHER IT'S MARKET RATE OR, OR RESTRICTED, UM, DO I HAVE TO LOOK AT THAT AGAIN WITHIN, LET'S SAY IF WE HAD A QUARTERLY, WITHIN THREE MONTHS, DO I HAVE TO LOOK AT THAT SAME PERSON AGAIN? BECAUSE THEY'VE ALREADY PROVEN AT ONE POINT AND WE DON'T KNOW WHETHER THEY GOT A NEW JOB AND ALL THAT AND THEY'RE MAKING MORE MONEY AND ALL THAT.
BUT THEY'RE LEGALLY SUPPOSED TO, ANY CHANGE OF INCOME OR CHANGE OF FAMILY COMPOSITION, THEY'RE SUPPOSED TO VOLUNTARILY REPORT THAT.
BUT EVERY YEAR THEY HAVE TO BE RE-CERTIFIED.
IF, IF THEY'RE A MARKET TENANT, SO NOT IN THE PROGRAM, YOU DON'T REALLY HAVE TO RECERTIFY THEM.
I MEAN, THAT'S JUST YOUR MARKET RULES.
BUT IF THEY'RE IN THE PROGRAM, AND THAT'S A DIFFICULT THING FOR SOME PROPERTY MANAGERS BECAUSE THEY SEE IT AS THEY'RE NOT THE OWNER.
RIGHT? SO THEY'RE NOT GETTING THE BENEFIT OF THE EXEMPTION THE OWNER IN THE CITY IS.
AND SO THEY JUST SEE IT AS ANOTHER STEP.
LIKE, WHY DO I HAVE TO, FOR THIS PERSON IN THIS PROGRAM HAVE TO RECERTIFY THEM EVERY YEAR AND THEY HAVE TO DO IT WITHIN 12 MONTHS.
IF IT'S 12 MONTHS IN A DAY, A UNIT DOESN'T COMPLY UNDERSTAND.
OXANA IS NOT CHECKING THE RECERTIFICATION THOUGH, RIGHT? THAT'S YES, THEY DO.
SO YOU'RE NOT JUST DOING THE INCOME VERIFICATION,
[01:10:01]
YOU'RE CHECKING THAT THEY HAVE ACTUALLY DONE THE RECERTIFICATION, OR THAT'S ALL PART OF THE SAME, THE THE PROPERTY IS RESPONSIBLE FOR INITIALLY CERTIFYING THEIR TENANT.SO THERE'S CERTAIN THINGS IN YOUR REGULATORY AGREEMENT THAT WE WILL PRESCRIBE TO THE PROPERTY THAT THEY HAVE TO PRESENT TO US FOR JOHN BEE.
AND THEN WE REVIEW THAT IN COMPARISON TO THAT REGULATORY AGREEMENT.
'CAUSE EACH ONE OF 'EM IS DIFFERENT.
AND THEN ONCE WE CERTIFY THAT UNIT OR JOHN DOE WAS CERTIFIED UNTIL MONTHS COMES UP OR LEAVE.
AND SO, SO YOU GUYS ARE ACTIVE, YOU'RE NOT JUST RECEPTIVE TO WHATEVER YOU, YOU FIND YOU'RE ACTIVE TO MAKE SURE THAT THEY ARE ESSENTIALLY DOING WHAT THEY'RE SUPPOSED TO BE.
I MEAN, IF THEY'RE MISSING, FOR INSTANCE, I'M SURE EVERY ONE OF YOUR REGULATORY AGREEMENTS, 'CAUSE THIS IS BY STATUTE, HAS AN AFFORDABLE HOUSING LIMIT.
SO THAT'S SOMETHING THAT'S A PIECE OF THE LEASE THAT SAYS YOU'RE, YOU'RE IN, YOU'RE IN AN AFFORDABLE HOUSING PROGRAM.
AND IF YOU DON'T GET THAT SIGNED, THEN THAT PACKET'S NOT COMPLETE AND THEREFORE THAT UNIT DOESN'T QUALIFY.
SO JUST BECAUSE WE'RE ALL LISTENING AND YOU'RE HERE, WE TALKED ABOUT THE RFP AND CUTTING SOME STUFF, BUT THIS SEEMS LIKE PRETTY STRAIGHTFORWARD YOU'RE DOING THIS, WHAT WOULD WE EVEN CUT OR WHAT IS IT IN ADDITION THAT WOULD BE OUTTA IT? MY MY POINT IS, WE, WE HAVE A COUPLE OF CLIENTS THAT JUST WANT US TO SAMPLE SIZE AND DO QUARTERLY, AND THEY FOUND THAT THEIR AUDIT RESULTS HAVE BEEN WHAT THEY THOUGHT THEY WOULD BE.
SO THE SAMPLE SIZE METHOD IS JUST WHAT IT IS.
SO DID YOU SAMPLE 25% OF YOUR FILES? DID YOU HAVE A 25% PROBABILITY THAT YOU'RE GONNA PASS YOUR AND SUCCEED ON YOUR AUDIT? YES, SIR.
UH, FROM YOU GUYS' PERSPECTIVE, UH, YOU MENTIONED MONTHLY COMPLIANCE, UH, QUARTERLY REPORTING.
WHAT DOES MONTHLY COMPLIANCE LOOK LIKE? SO, SO 400 UNITS, YOU'VE, AND YOU KNOW, YOU'VE GONE THROUGH, LOOKED AT 400 JOHN, DOS, JOHN AND JAMES, UM, TO, I GOT TWO QUESTIONS.
YOU'VE LOOKED AT 400, JOHN AND JAMES.
UM, YOU FOUND 3% OF 'EM THAT DID NOT HAVE COMPLETE FILES, AND YOU'RE NOT ABLE TO, THEY'RE NOT ABLE TO GIVE YOU WHAT'S, WHAT WAS NEEDED.
WHAT HAPPENS THEN? SO ON A MONTHLY BASIS, WE TRACK MOVE IN AND MOVE OUTS.
SO YOU'RE GONNA HAVE MOVE INS.
SO WE'RE LOOKING FOR A COMPLETE PACKET WITH THE MOVE INS.
AND THEN WE'RE ALSO TRACKING FROM THE PREVIOUS MONTHS WHEN WE'VE SAID, YOU ARE MISSING DOCUMENT A OR YOUR REGULATORY GIVER SAYS YOU'RE SUPPOSED TO HAVE FOUR PAY STUBS, YOU ONLY HAVE THREE.
WE'RE FOLLOWING UP ON THOSE PREVIOUS COMMENTS.
AND THEN WE'RE REVIEWING ANYBODY THAT IS NEW THAT CAME IN THAT MONTH, AND THEN WE'RE REMOVING ANYBODY THAT THEIR LEASE EXPIRED OR THEY MOVED OUT.
WE'RE MOVING THEM OFF OF WHAT, WHAT IS OUR COMPLIANCE RENT ROLE? AND THEN WE'RE ALSO LOOKING FOR RESEARCH.
SO IF SOMEBODY IS UP FOR RENEWAL, YOU CAN START 120 DAYS OUT.
SO IF THEY'RE UP FOR RENEWAL IN OR MARCH IN, IN MAY OR JUNE, WE'RE LOOKING TO SEE IF THEY PROVIDED A NOTICE OR DO THEY EVEN KNOW THAT THEY'RE UP FOR RENEWAL AND WE'LL GIVE 'EM A REMINDER.
SO IT'S, IT'S TRYING TO STAY AHEAD OF THE MOVING TARGET.
'CAUSE IT CHANGES EVERY MONTH BASED ON HOW MANY LEASES, WHAT YOUR TURNOVER IS EVERY MONTH.
WHEN YOU FIND THAT, AGAIN, DO YOU FIND THAT SOMETHING DOESN'T FIT? IS IT, WHAT, WHAT DO YOU DO? IS IT NOTIFYING THE BOARD? AH, OKAY.
SO WHEN WE WORK WITH PROPERTIES, IF, IF WE'VE IDENTIFIED A SYSTEMATIC FLAW AND WE'LL NOTIFY THE PROPERTY, IT DOESN'T HAVE TO BE SYSTEMATIC.
IF WE'RE JUST GETTING SLOPPY WORK, WE'LL, WE'LL DETAIL THAT OUT.
WE'LL NOTIFY THE PROPERTY AND WE'LL SAY, HEY, LISTEN, YOU KNOW, KNOW THIS IS AN ONGOING THING OF, YOU KNOW, MISSING DOCUMENTS.
IT'S NOT JUST AN OCCASIONAL MISSING SIGNATURE.
NOW, ONCE WE'VE NOTIFIED THAT PROPERTY, WE, WE TRY TO TAKE IT UP TO ANOTHER LEVEL, WHETHER IT BE A REGIONAL MANAGER LEVEL OR AN OWNER LEVEL.
IF THERE'S STILL NO ATTENTION PAID, THEN IT'S GONNA GO TO WHOEVER YOU ASSIGN ME TO SEND IT TO.
SO IT'S GONNA COME TO THIS BOARD.
THEY'RE GONNA GET AN OPPORTUNITY TO FIX THEIR MISTAKES BECAUSE THE LAST THING I WANT IS FOR YOU TO GET AN EMAIL EVERY, EVERY MONTH ON EVERY PROPERTY THAT HAS A PROBLEM.
AND THEN YOU GET A, A FOIA OR A PIA IN THIS CASE.
AND, AND NOW YOU'VE GOT EMAILS SAYING THAT EVERY PROPERTY HAS
[01:15:01]
A PROBLEM.YOU GOTTA GIVE IT AN OPPORTUNITY AT THE PROPERTY LEVEL TO SECURE THE MISTAKES.
BUT IF IT BECOMES A POINT WHERE THEY'RE JUST NOT GETTING THERE, THEN I HAVE TO NOTIFY THE BOARD IF THAT'S MY FIDUCIARY.
SORRY, I DIDN'T SEE YOU HAD YOUR HAND UP.
UM, SO I JUST HAD A, A QUESTION SLASH COMMENT.
SO DO WE HAVE IT ANYWHERE IN OUR POLICIES OR DO WE HAVE LIKE AN SOP OR, AND LIKE WHEN WE GRANT FUNDS OF HOW THIS IS SUPPOSED TO WORK? I WAS, I THOUGHT WE DID, OR THERE'S AN IMPRESSION.
'CAUSE I KNOW WHEN IT COMES TO PEOPLE GETTING DA OR INCOME VERIFICATION FOR DEVELOPERS THAT I WORK WITH ON THE SIDE, WE, YOU KNOW, EVERYTHING GOES TO THE HOUSING DEPARTMENT.
SO WE'RE NOT DOING THAT AT ALL FROM THE SOUNDS OF IT.
WE, THE, WE AS THE PFC, UH, AND STAFF ARE, ARE NOT DOING ANYTHING.
THE HOUSING DEPARTMENT IS LIKE MAYBE KIND OF THE PROCESS STARTED.
I'M NOT SURE IF IT EVER FINISHED, UH, TO BE HONEST WITH YOU.
I I'M SURE, I'M SURE IT'S, IT'S, IT'S DEVELOPED SINCE WE'VE LEFT.
BUT TO WHAT POINT, I CANNOT TELL YOU, UM, ACCURATELY RIGHT NOW.
SO, SO, SO SAM, SO IN THE PAST, SINCE, AGAIN, SINCE THE RECEPTION OF 2020, HOW HAVE WE CONFIRMED INCOME REQUIREMENTS? WE JUST TAKE THE DEVELOPER'S WORD FOR IT AND THEIR LEASING OFFICES AND ALL THAT.
I'M ASSUMING WE DIDN'T HAVE UNITS COMING ONLINE UNTIL OH YEAH.
AND HOUSING DEPARTMENT, STILL HOUSING DEPARTMENT STAFF AT THAT POINT.
AND THEY STARTED COMING ON SLOW.
WE WERE, WE WERE TRYING TO FIGURE SOMETHING OUT AND UH, IT JUST WAS A PROJECT THAT KEPT, KEPT GETTING PUT ON THE BACK BURNER.
IT WAS DESIGNATED TO THE, THE COMPLIANCE TEAM IN THE HOUSING DEPARTMENT.
THEN IT KIND OF BOUNCED AROUND BACK AND FORTH BETWEEN MM-HMM.
HOUSING LIKE PFC STAFF AND HFC STAFF AND, UH, AND COMPLIANCE ON WHO WAS DOING WHAT.
AND IT JUST WASN'T FULLY, IT WASN'T FULLY HASH OUT.
AND, AND THE REASON WHY, BECAUSE I'M, I'M CONCERNED IF WE DON'T, 'CAUSE I WAS THE IMPRESSION THAT'S HOW WE WAS GOING THROUGH, AND I KNOW THEY, AGAIN, IT'S A CITY, RIGHT? THEY HAVE THEIR STAFF AND WORKFORCE IS, SO IT'S THE CAPACITY ISSUE, RIGHT? WE'RE ALL GOING THROUGH THAT.
BUT I'M JUST CONCERNED ABOUT THAT BECAUSE AGAIN, THAT'S, THAT'S SOMETHING THAT I'M, I'M REALLY SURPRISED ABOUT.
SO WE DEFINITELY WANNA GET ON THE BALL ABOUT THAT.
SO YOU GUYS HAVE ANY QUESTIONS OR ANY FEEDBACK THAT'S, THAT'S UP MY ALLEY.
SO THEN FEEL FREE TO REACH OUT.
BUT YEAH, THIS, THIS IS CONCERNING BECAUSE WE SHOULDN'T BE HAVING THIS ISSUE, YOU KNOW, TWO YEARS IN ALREADY.
SO I'M, I'M JUST, I JUST THOUGHT WE ALREADY HAD SOMETHING IN AND, AND RIGHT ANSWER.
THAT'S, THAT'S ME ON DROPPING THE BALL.
UM, I BELIEVE WE HAVE SHANNON WITH HER HAND UP ONLINE.
SAM, I JUST WANTED TO POP IN ON THAT JUST TO ADDRESS, YOU KNOW, I AM NOT SEEING IN ANY HFC OR PFC, UM, THE, AT THAT LEVEL, Y'ALL TAKING ON DOING THESE KIND OF COMPLIANCE THINGS DIRECTLY BY THE PFC OR HFC STAFF.
I CAN TELL YOU THE AGREEMENTS Y'ALL HAVE IN PLACE PUTS THE PARTNERSHIP IN THOSE PROPERTY MANAGEMENT COMPANIES FULLY IN, UH, AS THE RESPONSIBLE PARTIES FOR BEING SURE THAT COMPLIANCE IS DONE.
AND, UH, YOU KNOW, SO I JUST WANNA SAY, I DON'T, DON'T FEEL LIKE YOU'VE FAILED SOMEWHERE.
THAT'S, AND I THINK, YOU KNOW, I COULD PROBABLY BACKED UP BY SOME OTHER FOLKS HERE.
THAT'S WHAT'S IN THE AGREEMENTS FOR THEM TO DO.
BUT AT THE LOWER LEVELS, NOT FOR Y'ALL TO, ALTHOUGH YOUR OVERSIGHT AND THINGS YOU'RE DISCUSSING MOST CERTAINLY APPEAR APPROPRIATE.
YOU'RE NOT GOING TO, UH, NECESSARILY BE DOWN FEELING LIKE YOU NEED TO DO, UH, THAT YOURSELVES IN PAIN FOR ALL OF THAT ON YOUR OWN.
AND, UH, IN THAT REGARD, I THINK THE, UH, KIND OF GET A GENERAL UNDERSTANDING, UH, SO WE CAN MOVE ON, IS WHAT IS THE CONSENSUS OF THE, I NEED A MOTION HERE, UH, FROM THE BOARD BEFORE YOU MAKE A MOTION.
UM, I'VE BEEN SUCCESSFUL AS A THIRD PARTY, SO WHETHER, WHETHER IT'S ME OR A DIFFERENT THIRD PARTY, I'VE BEEN SUCCESSFUL IN HAVING EXEMPTIONS RE RE AND STORED OR IN RESTORED, EXCUSE ME, JUST BECAUSE I WAS A THIRD PARTY AND I COULD PROVIDE THE DATA.
AND I WASN'T THE DEVELOPER FOR THE, THE MUNICIPALITY TONGUE TIED SLEEPY.
UM, SO IT WAS, IT WAS BY VIRTUE OF BEING THIRD PARTY AND SOMEWHAT INDEPENDENT OF THE TRANSACTION, UM, AND TO YOUR
[01:20:01]
JURISDICTIONS.JUST MAKE SURE, WHAT I TOOK FROM WHAT SHE WAS SAYING IS THAT THIS, UM, THAT THIS EXPENSE DOESN'T NEED TO BE FULLY REALIZED BY THE GROUP.
IT'S SUPPOSED TO BE CARRIED BY PROJECT PARTNERS, IS THAT WE HAVE THE FUNCTION AT LEAST IS RIGHT.
SO I IT, I FEEL LIKE THE GUIDANCE WE WERE GIVEN WAS THAT WE DON'T NEED SOMETHING THAT'S, UH, INTENSIVE.
WELL, I THINK THAT'S, AND AND THAT CAN BE SOMETHING THAT THE FINANCE COMMITTEE
NO, THAT WAS GONNA BE MY MOTION WAS THAT WE, UH, THAT WE TABLE THIS FOR FURTHER CONSIDERATION OF FINANCE AND THEN WE SORT OF BACK AROUND FOR, UH, FOR ACTION AS SOON AS APPROPRIATE.
UM, THANK YOU FOR, FOR WHAT YOU JUST SAID.
I WANNA TRY TO CLEAR SOMETHING UP AND MAKE SURE WE'RE ALL ON THE SAME PAGE.
SO, 'CAUSE IT'S TWO DIFFERENT, I'M HEARING TWO DIFFERENT THINGS.
UM, ONE FROM THE, THE EXPENSE OF IT, FROM MY UNDERSTANDING, THE INITIAL EXPENSE WOULD BE CARRIED BY THE BOARD BECAUSE THE GRIEVANCE ARE ALREADY IN PLACE.
DID NOT SAY THAT THOSE DEVELOPERS HAD TO PAY THIS.
SO THAT $250,000 OR WHATEVER THAT NUMBER MAY BE, WHATEVER THE NUMBER IS, THE BOARD, THAT INITIAL EXPENSE THE BOARD WILL HAVE TO CARRY RIGHT FROM THAT POINT, IF WE, WE SAY, HEY, WE'RE GOING WITH WHATEVER COMPANY WE'RE GOING WITH, EVERY OTHER DEAL THAT WE DO, THOSE DEVELOPERS WOULD CARRY THE EXPENSE FROM NOW ON, RIGHT? BECAUSE THE AGREEMENT WILL PUT IN PLACE THAT COMPLIANCE IS GONNA COST THIS MUCH MONTHLY OR WHATEVER, OR WHATEVER.
AND, AND SO FUTURE DEVELOP FUTURE DEALS, WE DON'T, WE DON'T, WE DON'T COVER.
BUT, BUT RIGHT NOW, THE INITIAL DEALS WE DO COVER.
THE SECOND PART IS, I, I THINK I'M, I'M HEARING THE QUESTION OF, OR MAYBE I'M NOT, AM I HEARING THE QUESTION OF DO WE NEED THE COMPLIANCE AT ALL? IS THAT THE SEC? IS THAT PART OF THAT QUESTION? I, I THINK I COULD HELP CLARIFY.
I THINK WHAT THE CPA WAS SAYING WAS THAT THE FUNCTION EXISTS IN OUR LEASE AGREEMENTS OR WHATEVER THEY ARE CURRENTLY WITH THE DEVELOPER.
SO THEY'RE OBLIGATED TO DO IT RIGHT NOW.
SO THEY'RE UNDERTAKING SOME FUNCTION.
I THINK THAT'S WHAT SHE'S SAYING.
IF WE WANTED TO DO A SECONDARY LEVEL OF VERIFICATION THROUGH OXANA OR SOMEONE ELSE, YOU'RE RIGHT.
IT WOULD BE OUR EXPENSE TO DO THAT.
WE COULD PUT THAT SECONDARY, THAT EXPENSE ONTO DEVELOPERS FOR FUTURE DEALS.
I THINK THE MOTION IS RIGHT TO CLEAR THIS ALL UP.
YOU JUST FIGURE OUT IF WHAT I JUST SAID OR A CRIME SET IS RIGHT OR
SO YEAH, WE DEFINITELY AN EMOTIONAL NET.
I WILL SAY THANK YOU TO THAT AND I'LL STATE MYSELF, UM, AS TO WHETHER OR NOT WE NEED COMPLIANCE, LIKE OUR OWN LEVEL OF COMPLIANCE.
AND I WOULD SAY YES, THAT, UH, WE CAN TALK ABOUT HOW TO DO IT, WHETHER IT'S MONTHLY COMPLIANCE, WHETHER IT'S THE GRAPH BAG, UH, VERSION OF IT.
BUT AT THE END OF THE DAY, EVEN IF THE DEVELOPER'S SUPPOSED TO LOOK AT THIS, HOUSING'S SUPPOSED TO LOOK AT THIS.
IF SOMEBODY DROPS THE BALL, WE'RE GOING TO PAY FOR IT.
AND IT DOESN'T MATTER WHO WAS SUPPOSED TO DO IT, RIGHT? WE WOULD BE THE ONES THAT WOUND WOUND UP LOSING CERTIFICATION.
THAT'S TOO BIG OF A RISK AT THIS POINT.
IT'S JUST A MATTER OF HOW MUCH IS IT GONNA COST? WHAT NUMBERS MAKE SENSE, RIGHT? AND WHAT COMPANY IS BEST EQUIPPED TO DO IT.
NOW I DON'T KNOW WHAT THE MOTION NEEDS TO BE, BUT
UH, I WOULD LIKE TO MOTION THAT THE, UH, ITEM NUMBER, UH, NINE, UM, BE, UH, TABLED FOR THIS CURRENT BOARD MEETING AND THAT THE ITEM BE REMANDED BACK TO THE FINANCE COMMITTEE FOR FURTHER CONSIDERATION, UH, FOR PO POSSIBLE RECONSIDERATION BY THE FULL BOARD.
AND, UM, WE COULD TAKE A FRIENDLY AMENDMENT AND THAT, UH, WE HAVE A STATUS REPORT AT NEXT MONTH'S MEETING.
HAVE A SECOND TO DIRECTOR HOME MOTION.
SECOND BY DIRECTOR OF BLANKENSHIP.
UH, SAM, WE MOVE TO ROLL CALL.
[01:25:01]
MY APOLOGIES.ANY DISCUSSION ON THIS MOTION? OKAY.
SEEING NONE, UH, MOVE TO A VOTE.
WAS THAT A, A DISCUSSION ITEM? I THINK THAT WAS A SNEEZE.
MARK LOMBARDI APPROVE LAUREL STONE.
OH, LAUREL HAD SIGNED OFF EARLY.
KEITH, BOB CALL APPROVE PEL C APPROVE.
UH, ITEM NUMBER NINE IS, UM, REMANDED TO, UH, THE FINANCE COMMITTEE.
AND WE LOOK FORWARD TO HEARING FROM Y'ALL NEXT MONTH ON THE VERY IMPORTANT UPDATE ON A VERY IMPORTANT SUBJECT.
MOVING ON TO ITEM NUMBER 10, DISCUSSION AND APPROVAL OF THE 2026 DPFC ANNUAL REPORT.
SO WE, UH, PUT TOGETHER THE ANNUAL REPORT, UM, THIS PAST MONTH.
IT'S, UH, IT'S SOMETHING THAT WE HAVE TO DO EVERY YEAR, BE PART OF THE CITY'S ANNUAL REPORT.
UM, SO IT'S ESSENTIALLY JUST THE SAME FORM AS THE, UH, AS THE LAST YEAR'S ONE.
UM, AND SOPHIA AND I CAUGHT US UP LAST YEAR.
WE WERE BEHIND, UH, ONE YEAR, SO WE SPENT SOME TIME DIVING IN LAST YEAR.
SO THIS IS ESSENTIALLY JUST A PLUG AND CHUG TEMPLATE NOW OF ACCOMPLISHMENTS, UH, FROM THE PREVIOUS YEAR.
AND JUST GENERAL, YOU KNOW, UH, JUST GENERAL ON WHAT WE DID AND WHAT WE WANT TO DO.
UM, IT'S A TASK FOR YOU GUYS TO REVIEW.
UM, IT, IT'S SOMETHING THAT WE NEED TO GET APPROVED BY YOU ALL, OR THE MAJORITY OF YOU ALL, UM, BEFORE WE SUBMIT IT, UH, ANNUALLY.
IT'S DUE FEBRUARY 1ST, IF I'M NOT MISTAKEN.
IF YOU, UP UNTIL THE END OF THE MONTH.
SO IN THEORY, WE COULD BRING IT BACK IF WE NEED TO, UM, OR WE COULD PROVE IT WITH, UH, ANY AMENDMENTS THAT ANYONE SEES, UH, THIS.
ANY DISCUSSION ABOUT ANNUAL REPORT BOND, WANTING TO ADD ANYTHING? UH, MORE A WEEK, UH, DISCUSSION IS OPEN.
UM, SAM, SEEING THAT CAROLINE MADE ME THINK OF THIS.
IT, I THINK, UM, A, UH, DATA POINT THAT WOULD BE REALLY HELPFUL IS INFRASTRUCTURE IMPROVEMENTS, UM, ON THESE PROPERTIES.
UH, 'CAUSE I KNOW WITH THE CAROLINE, THEY HAD TO PUT IN, IN A, UM, A SEWER, UM, IT WAS LIKE 1.2 MILLION OR SOMETHING LIKE THAT.
AND THEN THAT WAS THE PORTION THAT THE CITY COVERED AND, UH, UM, UH, THE DP AND L, UM, DEAL AT VO WAS WORKING ON.
THEY HAD AN ABANDONMENT, UM, A STREET ABANDONMENT ISSUE THAT THEY WERE WORKING WITH THE, UH, UH, SITTING ON, I KNOW THAT GENERATED REVENUE FOR THE CITY.
SO THOSE TYPES OF THINGS WOULD BE REALLY HELPFUL THAT ARE PART OF THE DEVELOPMENT.
UM, PARTICULARLY INFRASTRUCTURE.
I MEAN, I'M USING THE, UH, UM, THE ABANDONMENT.
IT'S ANOTHER EXAMPLE, BUT PARTICULARLY AROUND INFRASTRUCTURE, I THINK THAT WOULD BE HELPFUL.
JUST ADDITIONAL BENEFITS DIVIDED.
SO DO YOU WANT US TO TRY TO NO, I THAT'S A YOU CAN DO IT NEXT YEAR, THAT'S FINE.
BUT
AND JUST SO YOU KNOW, THAT 1.2 NUMBER IS ACTUALLY THE COST OF THE
UH, BECAUSE THOSE, THOSE KIND OF THINGS DON'T GET SEEN UNLESS WE PULL IT OUT.
AND FRANKLY, IT'S A, IT'S A PAIN FOR THE DEVELOPER, RIGHT? UM, AND, UH, YOU KNOW, I KNOW AT THE CAROLINE, THEY WEREN'T REAL THRILLED ABOUT, UM, GOING IN AND, AND HAVING TO DO THAT.
UH, YOU KNOW, $2 MILLION IS SIGNIFICANT.
UM, SO I THINK THAT WOULD BE HELPFUL.
I JUST WANT NOT THINK IT'S A GREAT REPORT.
I THINK IT'S A, IT'S ALL THE HIGH POINTS, YOU KNOW, ADDING A BULLET POINT ABOUT INFRASTRUCTURE SAVINGS OR WHAT, YOU KNOW, ADDITIONAL REVENUES
[01:30:01]
COMING THE CITY.I THINK ANYTHING WE CAN, WE CAN EMPHASIZE THAT, THAT TALKS ABOUT THE REVENUE COMING TO THE CITY, WHETHER IT'S LEASE OR DEAL STRUCTURE AS A REAL POSITIVE.
MAYBE EVEN TRY TO INCLUDE THAT, THAT BULLET POINT THAT, THAT AARON MENTIONED.
THE, THE COST TO PRODUCE 4,000 UNITS HAS BEEN $800,000 NOW.
NOT THAT, NOT THAT WE'RE GONNA CONVINCE EVERYBODY OF THAT, BUT IT'S A GOOD GOLD POINT TO HAVE.
AND MAYBE WE REPEAT IT, UM, YOU KNOW, IN THE BROCHURE MAYBE WE, MAYBE WE PUT THAT IN THE, IN THE ANNUAL REPORT.
ANY OTHER PER FURTHER COMMENTS, QUESTIONS, OR IS IS THERE, IS THERE A MOTION FOR THE ANNUAL REPORT? AMEND.
MOTION MADE TO APPROVE BY DIRECTOR MONTGOMERY.
MARK LOMBARDI APPROVE ALSO AT SIGNOFF EARLY KEITH OBAMA CALL APPROVE.
THE RECORD REFLECTED, UH, APPROVED APPROVALS.
MOVING ON TO ITEM NUMBER, ITEM NUMBER 11.
WE'VE ALREADY TAKEN CARE OF ITEM NUMBER 12, REVIEW AND REVIEW AND DISCUSSION OF DPSC TREASURY REPORT.
YEAH, SO, UH, THE TREASURER'S REPORT, WE HAVE US IN IT ONLINE, UH, FOR USUAL, JUST HANDLE THIS FOR US AND TAKE IT AWAY.
SO, UH, THIS IS FOR THE YEAR ENDED DECEMBER 31ST, 2024 FIVE THAT WE'RE TALKING ABOUT.
UH, JUST TO KIND OF HIT SOME HIGHLIGHTS, YOUR CASH AND CASH EQUIVALENTS BALANCES AT THE END OF THIS YEAR WAS JUST OVER $5.6 MILLION, WHICH IS AN INCREASE OF 1.5 MILLION FROM THE 12 31 20 24 AMOUNT.
UH, YOU HAD, UH, QUITE A LOT MORE ACTIVITY THIS YEAR, AS IS DETAILED IN THE TREASURER'S REPORT.
I JUST WANTED TO POINT OUT THAT, UH, YOU CONTINUE TO ENJOY, YOU KNOW, OVER 3.3, ACTUALLY 3.34% INTEREST ON THE MONEY MARKET ACCOUNT, UH, THAT Y'ALL HAVE OPEN.
SO CONTINUING TO RECEIVE, UH, GOOD INVESTMENT INCOME THERE.
AND THAT YOUR INCOME FOR THIS YEAR WAS AT $1,857,000, WHICH, UM, IS AN INCREASE OF OVER 576,000, ALMOST 577,000 FROM 2024, WHILE YOUR EXPENSES THIS YEAR OF 374,801 IS ONLY ABOUT $10,000 HIGHER THAN IN 2024.
SO YOU'VE GOT A NET CHANGE IN YOUR FINANCIAL POSITION HERE IN 2025 OF $1,482,470.
AND, UH, NOTHING KIND OF UNUSUAL TO REPORT, UH, IN THIS, IN THIS YEAR.
YOU DID RECEIVE, IN THIS YEAR, IN THIS LAST MONTH IN DECEMBER, YOU RECEIVED ROUGHLY 135,000 FOR THE SECOND HALF OF A SALES TAX SAVING GROUND LEASE PAYMENT, UH, FROM BISHOP ARTS.
AND, UH, YOU KNOW, JUST THAT, THAT IS CONTINUING THE WAY THE DEALS HAVE BEEN STRUCTURED TO ALLOW FOR THESE, THE, THIS CASH FLOW OFF OF THE GROUND LEASE RENTS, UH, HAS RESULTED THIS YEAR IN JUST OVER $400,000 IN CASH COMING IN TO THE PUBLIC FACILITY CORPORATION.
ANY QUESTIONS FOR SHANNON? ANY NONE IN PERSON OR ONLINE? THANK YOU VERY MUCH.
ON ITEM NUMBER 13, DPFC PIPELINE REPORT, BRIEFING AND DISCUSSION, SAM.
ALRIGHT, UH, START WITH LEASING PROJECTS.
WE HAVE A NEW LEASING PROJECT, THE HAYDEN, UH, THAT'S AN
UH, SOPHIA, ERIN AND I ACTUALLY WENT AND FORWARD IT YESTERDAY AND,
[01:35:01]
UH, IT'S INCREDIBLE.IT'S SUCH A NICE PROJECT, REALLY COOL POOL.
ALL THE AMENING AMENITIES ARE AMAZING.
WE WE'RE THINKING THIS IS ANOTHER POSSIBLE AWARD-WINNING PROJECT, UH, WHEN WE FIRST WALKED IN.
REALLY, REALLY EXCELLENT EXECUTION ON THAT.
SO, UH, WITH THAT, WE HAVE ANOTHER UNITS ONLINE HERE, THE 300 UNITS THAT JUST CAME ONLINE.
UM, AND JUST AS A REMINDER, THIS, THIS IS ONE OF THE PROJECTS WHERE THERE'S RESIDENTIAL, UM, LIKE A NEIGHBORHOOD, SINGLE FAMILY NEIGHBORHOOD ON, ON THE SIDE OF IT.
AND THE ONLY WAY THEY COULD GET THROUGH PERMITTING WAS TO BUILD A ROW OF ATTACHED SINGLE FAMILY DUPLEXES, UH, IN BETWEEN 'EM.
SO THERE'S, AND THOSE UNITS REALLY NICE, THEIR OWN NICE SIZED YARDS ARE PART OF THE SAME AFFORDABILITY MIX, UH, REQUIREMENTS.
SO WE GOT SOME LIKE REALLY NICE ACTUAL DUPLEXES WITH, WITH YARD, YOU KNOW, WHERE YOU CAN PUT A MINI PLACE THAT OUT THERE OR WHATNOT.
UM, AND I KNOW YOU'VE DRIVEN THAT ONE.
YOU AND YOU CALLED IT COMING ONLINE SOON.
SO THAT, THAT'S A DISTRICT NINE UM, PROJECT.
SO OBVIOUSLY I'VE BEEN IN, UH, YEAH.
UH, REALLY INVOLVED IN THAT ONE AND, UH, AND WATCH THAT COME ALONG.
YOU KNOW, I I, I THINK, AND WHILE I KNOW THERE ARE SOME NEIGHBORS THAT WOULD DISAGREE WITH THIS, I, I, I THINK IT WAS A, A REALLY GOOD EXAMPLE OF WORKING WITH THE NEIGHBORHOOD, UM, TO YOUR POINT, UM, IT SITS UP ABOUT 20 FEET ABOVE, UM, THE, A CUL-DE-SAC AND THERE, THERE WERE PROBABLY ABOUT SIX HOUSES THAT, UM, IF WE DIDN'T DO ANYTHING, THERE WOULD BE STRAIGHT SIGHT LINES INTO THE, UM, INTO THE, UH, HOUSES.
AND SO YEAH, THE, THE O HA UM, COMPROMISED AND DID THOSE, UM, TOWN HOME STYLE THAT, UH, BOUGHT THE, UH, THE, THE, UM, THE CUL-DE-SAC AND THEN THE DETENTION POND FURTHER DOWN.
UM, SO THERE WASN'T DIRECT, UM, ADJACENCY, UM, TO ANYBODY'S, UM, UH, ANY RESIDENTIAL PROPERTY, I DON'T BELIEVE.
UM, SO THERE WERE A LOT OF, THERE WERE SOME COMPROMISES MADE.
I, I THINK MY BIG TAKEAWAY FROM THAT IS WHERE IT IS ON GARLAND ROAD, IT'S GONNA BE AN ECONOMIC CATALYST.
UM, AND, UH, IT, IT REALLY, UM, DEMONSTRATES, UM, WHAT WE CAN DO NOT ONLY FROM A HOUSING PERSPECTIVE, BUT AN ECONOMIC DEVELOPMENT PERSPECTIVE.
UM, I THINK IT TURNED OUT GREAT AS FAR AS JUST THE DESIGN AND THE LOOK OF IT.
UM, AND YOU KNOW, FOR, FOR MY MONEY, I, I THINK IT'S ONE OF PROBABLY THE TWO BEST LOOKING, UM, PROPERTIES THAT WE HAVE.
UM, I, I THINK OF OAK HOUSE TOO.
UM, BUT, UH, YEAH, TERRIFIC PROJECT.
I THINK THEY DID A, AN OUTSTANDING JOB DELIVERED ON TIME.
UM, AND, UH, YEAH, IT'S, IT'S A NICE PRODUCT.
THEY GOT A LITTLE SPACE DOWN UNDERNEATH, LIKE, UH, THE COMMUNITY ASKED FOR TO, UM, SO LITTLE.
I THINK THEY'VE GOT ABOUT 3000 SQUARE FEET OF, UH, OF RETAIL SPACE.
UM, I'M GLAD TO SEE 'EM LEASE UP.
IF YOU HAVEN'T BEEN INSIDE, CHECK IT OUT.
SOMETIMES I'D INVITE, INVITE EVERYONE TO GO LOOK AT THAT ONE.
UM, AND, UH, TO YOUR POINT OF, UH, THEM NOT WANTING THE VISIBILITY, UH, FROM THE TOWN HOMES, THEY ALSO, IN THEIR PERMITTING NEEDED TO BUILD A 12 FOOT FENCE, WHICH YOU CAN'T GET A PERMIT FOR A 12 FOOT FENCE.
AND THAT WAS PART OF IT, WHICH THEY NEEDED TO, TO PUT THIS EXTRA LARGE FENCE IN THERE, WHICH I NEVER SEEN RIGHT NEXT TO A RESIDENTIAL NEIGHBORHOOD BEFORE IN MY LIFE.
BUT IT WAS, IT WAS PRETTY WELL THERE.
THERE'S A LOT OF NUANCE IN THERE.
SO THEY DID A PD SO THEY COULD DO STUFF LIKE THAT THAT ALSO INCLUDED FOLIAGE.
AND, UH, NOT SO COINCIDENTALLY, UM, THE OWNER OF ONE OF THE MAJOR, UH, UH, NURSERIES IN TOWN IS ON THAT CUL-DE-SAC.
SO HE WAS, HE WAS HAPPY TO TELL US WHAT, UH, HOW WE NEEDED TO PUT IN THERE
AND THAT GOT GREAT
UM, THE, THE, UH, THE BISHOP, BOTH BISHOP RIDGE PROPERTIES ARE, ARE MOVING ALONG.
MARCUS MOVING ALONG TO CAROLINE, ANOTHER OJA PROJECT WE ALSO TOURED AND THEY ARE FLYING.
UM, THEY'RE GOING TO DELIVER, YOU KNOW, THEY'RE GONNA BEAT THEIR EXPECTED TIMELINES.
THEY'RE SHOOTING TO HAVE UNITS ONLINE, THE FIRST PHASE OF THEM AND ALL AMENITIES ONLINE FOR, UH, JUNE, IN JUNE OF THIS YEAR.
[01:40:01]
FAST.UM, BUT RECORDED AND IT LOOKS MANAGEABLE.
LIKE THEY, THE SECTION THAT THEY SAID THEY WERE GONNA HAVE ONLINE PLUS AMENITIES, I MEAN, THEY WERE PUTTING THE FINISHING TOUCHES ON, ON THE AD SIDE ALREADY.
UM, SO CORRECT ME IF I'M WRONG, BUT THAT FIRST LITTLE PORTION OF IT LOOKED LIKE THEY WERE ABOUT TO START ONLY WORKING INSIDE.
SO IT WAS, THEY'RE, THEY'RE SIVE.
AND THEN, UH, ALSO LOMA DROVE THAT ONE OVER THE WEEKEND FLYING AS WELL.
I DON'T KNOW IF YOU GUYS HAVE BEEN THERE.
UH, BUT THEY GOT THE ELEVATOR SHAFTED UP ALREADY AND, UH, AND ALL THE, ALL THE SITE WORK DONE, THEY'RE STARTING TO GO VERTICAL.
SO WHAT WE GOOD ON THAT FRONT AS WELL.
THERE HASN'T REALLY BEEN MUCH, UH, MOTIONS IN ANYTHING THERE BESIDES WHAT WE HAD TALKED ABOUT LAST TIME.
UH, LARGE FAIR PARK GOT A HUD MODE.
UM, TANYA, YOU HAD MENTIONED EARLIER, POSSIBLY PUTTING A TIMELINE ON, UH, ON OUR PROJECT APPROVAL MIGHT BE SOMETHING WE BRING BACK FOR AN OFFICIAL GO AHEAD ON TIME AROUND, UH, BECAUSE WE DO HAVE QUITE A FEW THAT ARE OVER TWO YEARS OLD AND CAP CITY COUNCIL IS TRACKING THOSE AND SAYING, OH, WELL WE ALREADY APPROVED, FULLY APPROVED THESE.
WE CAN, WE CAN GO BACK AND SAY THESE AREN'T ONGOING AND GIVE THIS MORE LEEWAY.
AND PERHAPS SOMETHING WE CAN ADDRESS TO CLEAN HOUSE AT OUR NEXT, AS AN AGENDA ITEM FOR NEXT MONTH'S MEETING.
UM, IS OUR, OUR MOUS ALLOW US TO TERMINATE ANY OF THESE VIRTUALLY AT ANY TIME.
YEAH, IT, IT IS UNTIL IT'S CLOSED.
THIS IS NOT A, YOU KNOW, IT'S, SO THIS IS THE COMMITMENT, RIGHT? I I GUESS YOU COULD, UH, WE COULD REACH OUT TO THOSE OLD ONES, PERHAPS THE DEVELOPER AND ASK THEM YEAH, WE'LL TOUCH BASE WITH THEM, THE ONES THAT ARE OVER TWO YEARS AND, AND THEN FUTURE CONTRACTS WE CAN JUST, I BELIEVE WE DECIDED WE WE'RE JUST PUTTING IT IN THERE.
THAT IS, THAT'S ONLY GOOD FOR, YOU KNOW, 180 OR THREE, HOWEVER MANY DAYS WE DECIDED, WE DECIDED ON 18 THE LAST TIME WE BROUGHT THIS UP.
18 MONTHS TO 24 MONTHS WAS 18 MONTHS.
WE, WE THOUGHT WAS SOMEWHAT, WE THOUGHT WE WERE GONNA LAND ON ONE OF THE, OF THOSE TWO, YOU KNOW, SOME STUFF CAN'T TAKE A WHILE, RIGHT? LIKE, ESPECIALLY IF THEY'RE GETTING A HUG LOAN.
WELL, AND THEY'RE GETTING APPROVAL AFTER OFFICE AND, ALRIGHT.
ALRIGHT, WELL WE'LL BRING THAT BACK UP AT THE, AT THE NEXT MEETING THEN.
WE ARE IRONING OUT OUR DOCS RIGHT NOW FOR LBJ.
WE'RE AIMING TO BRING THAT BACK, UH, FEBRUARY IN A FEW WEEKS, BUT MORE THAN LIKELY THAT'S GONNA BE, UH, MARCH, UH, FINAL APPROVAL.
UM, NOT A WHOLE LOT OF MOVEMENT THEN AS FAR AS APPLICATIONS WE HAVE ONE IN AND WE SHOULD BRING IT TO YOU GUYS AT OUR NEXT BOARD MEETING.
WE'RE GONNA BE RE REVIEWING IT AT THE FINANCE OVER AT THE
ROD, THAT'S ALL I'VE GOT ON THE PIPELINE.
IS THERE ANY QUESTIONS OR CONCERNS? AND OUR NEXT BOARD MEETING BEING, UH, IN THREE WEEKS ON FEBRUARY WITH THE SNOW DAY WE HAD LAST WEEK.
UH, WE'LL BE, UH, NEXT IN FEBRUARY 24TH.
SO AFTER HAVING A, A LONG BREAK, WE'RE GOING FULL STEAM WITH SOME EXTRA AHEAD.
ANY MORE, UH, QUESTIONS OR COMMENTS ABOUT, UH, THE PIPELINE AND ITEM NUMBER 13 ONLINE? SEEING NONE, YOU'RE IN PERSON.
MOVING ON TO ITEM NUMBER 14 AND I THINK WE CAN DO A, A VOICE VOTE ON THIS.
ALL IN FAVOR TO ADJOURN, SIGNIFY BY SAYING AYE.
ANY IONS? ANY OBJECTIONS SEEING ANY HEARING? NONE.
UH, WE ARE ADJOURNED AT, UH, 1:43 PM THANK YOU AND HAVE A SAFE TRAVELS AND WE'LL SEE YOU IN.