[00:00:01]
[I. Call Meeting to Order]
GET STARTED.AND I WANNA THANK YOU EVERYBODY FOR BEING HERE.
AND WE WANNA CALL THIS MEETING TO ORDER.
UM, I GUESS THE, OH, DO YOU WANNA GO AHEAD AND CALL ROLL PLEASE? SURE.
[II. Approval of Minutes]
OKAY.UH, THE NEXT ITEM IS, UH, APPROVAL OF THE MINUTES.
UM, IF Y'ALL HAVE HAD AN OPPORTUNITY TO REVIEW, I'D ENTERTAIN A MOTION.
THERE IS A MOTION AND A SECOND.
ARE THERE ANY COMMENTS? IF NOT, ALT IN FAVOR, SAY AYE.
[2. Financial update on City of Kyle, Texas Tax Increment Revenue Bonds, Series 2023 (Tax Increment Reinvestment Zone Number Two, City of Kyle) bond sale. ]
UH, NEXT IS UNDER PRESENTATIONS, UH, THE FINANCIAL UPDATE ON THE CITY OF KYLE, TEXAS.TAX INCREMENT RE REVENUE BONDS SERIES 2023 BOND SALE.
ANDREW FRIEDMAN WITH SAMCO CAPITAL MARKETS, UM, FINANCIAL ADVISOR TO THE CITY.
HANDED OUT TWO PIECES OF PAPER.
THE ONE WE'RE TALKING ABOUT FOR THIS ITEM IS THIS, UH, SINGLE PAGE, UH, HAD A GREAT PRICING RESULT, UM, WAS APPROVED BY COUNSEL ON TUESDAY NIGHT.
UM, WANTED TO GO OVER, UH, FOR THE BENEFIT OF THIS BOARD, UH, THE PRICING DECISION THAT WAS MADE.
UM, AS WE STARTED WORKING WITH THE BOND UNDERWRITER, UH, LATE LAST WEEK, UM, AND GETTING INDICATIONS OF INTEREST RATES.
UM, THE TOP PORTION OF THIS SHOWS THREE COLUMNS.
THE ORIGINAL STRUCTURE, THE PRELIMINARY PRICING BASED ON A PREMIUM STRUCTURE, AND THEN THE FINAL PRICING BASED UPON A DISCOUNT STRUCTURE.
AND WHAT I WANT TO POINT OUT FOR ALL OF YOU IS THE ORIGINAL STRUCTURE BEING WHEN WE WENT OUT, UH, PLANNING TO GO INTO THE MARKET TO ISSUE $8 BILLION WORTH OF BONDS, PUT $8 MILLION INTO THE CONSTRUCTION ACCOUNT, UM, CONSTRUCTION FUND DEPOSIT, UH, NET OF THE COST OF ISSUANCE AND UNDERWRITERS DISCOUNT BY GENERATING A PREMIUM OF $395,000.
AND WE ASSUMED A TRUE INTEREST COST, WHICH MEANS THE, ROUGHLY THE AVERAGE INTEREST RATE OF 5.5% IN VISITING WITH THE UNDERWRITERS, UH, CAME TO THE DETERMINATION THAT, UH, GOING INTO THE MARKET WITH A PREMIUM BOND STRUCTURE, WHICH WOULD KEEP THE PAR AMOUNT AT OR BELOW $8 BILLION, WAS GOING TO RESULT IN A HIGHER INTEREST RATE ON AVERAGE THAN WE COULD GET IF WE WENT WITH A DISCOUNTED BOND STRUCTURE.
MEANING THAT WE WOULD ISSUE MORE PAR AMOUNT OF BONDS, BOTH SCENARIOS PUTTING 8 MILLION IN THE PROJECT FUND.
UM, BUT THE DISCOUNT BOND STRUCTURE RESULTING IN A LOWER TRUE INTEREST COST.
SO IF YOU LOOK AT THE MIDDLE COLUMN AND THE COLUMN TO THE RIGHT, THAT THE PREMIUM STRUCTURE WOULD GENERATE AN INTEREST RATE OF 4.8% VERSUS THAT DISCOUNT STRUCTURE AT 4.55% AN AVERAGE ANNUAL DEBT SERVICE OF 523, ALMOST $524,000, UH, VERSUS $506,000, UM, IN AVERAGE DEBT SERVICE.
UH, AND IT WAS, UH, OUR RECOMMENDATION, UH, THAT WE PROCEED WITH THAT DISCOUNT BOND STRUCTURE, EVEN THOUGH YOU'RE ISSUING $8,265,000 IN BONDS BECAUSE WE'RE ABLE TO GET BETTER INTEREST RATES BY, UH, ISSUING BONDS AT A DISCOUNT.
MEANING THAT IN THE LATTER YEARS THE COUPON THAT THAT WE PAY IS THE CITY TO THE BOND INVESTOR IS LOWER THAN THE YIELD, UH, IN THERE.
SO ULTIMATELY, UH, IT'S A ROUGHLY $20,000 A YEAR SAVINGS ON DEBT SERVICE.
UH, AND, AND OVER ROUGHLY $500,000 IN INTEREST SAVED OVER THE COURSE.
UH, THE LIFE OF THAT BOND, UH, IN BOTH CASES, MUCH BETTER THAN WHAT WE'VE BEEN PLANNING ON.
WE TRY TO BE CONSERVATIVE GOING INTO A BOND SALE.
WE ASSUMED FIVE AND A HALF PERCENT INTEREST RATE MARKETS HAVE IMPROVED SINCE WE REALLY STARTED LOOKING AT THIS.
AND WE LOCKED IN THAT 4.55% AND INSTEAD OF A $565,000 PAYMENT DOWN TO $506,000.
SO WITH THAT, I'M HAPPY TO ANSWER ANY QUESTIONS OR CONCERNS THAT YOU ALL HAVE.
UH, BUT THE, THE PRICING, UH, WIT VERY, VERY WELL.
AND WE'VE GOT THE MONEY THAT WE'RE SAVING BY THESE LOWER PAYMENTS, UH, CAN BE COMMITTED ON FUTURE BOND SALES, UH, THROUGH THE TURS, UH, IF AND WHEN THAT BECOMES AN EATEN THERE.
ANY COMMENTS? SO THIS, THE, HOW MANY YEARS IS THE, UM, PAYMENT? THE BOND PAYMENTS? THAT'S THE BOTTOM HALF OF THE PAGE.
[00:05:01]
THAT AMORTIZATION SCHEDULE GOES OUT TO 2053.SO, I MEAN, I CAN DO QUICK MATH, BUT IS IT'S LIKE 20 YEARS.
IT JUST, IT'S KIND OF DISHEARTENING TO SEE, UM, DOUBLE, YOU KNOW, THAT ESSENTIALLY IS WHAT WE'RE GONNA PAY.
CUZ IT LOOKS LIKE THEY'LL BE, UM, INTEREST OF A $7.1 MILLION, ALMOST 7.2.
BUT I UNDERSTAND IT'S NOT A GOOD TIME FOR BONDS, EVEN AT A 4.5% THAT'S, IT'S HIGHER THAN, I MEAN, SAY FIVE YEARS AGO OR WHATEVER.
BUT, YOU KNOW, AT THE LAST COUNCIL MEETING, I WENT HOME AND I WAS TALKING TO MY HUSBAND AND I WAS LIKE, WELL, THEY'RE SAYING THESE BONDS ARE SELLING LIKE CRAZY.
HE SAID, OF COURSE, BECAUSE THOSE RATES ARE A LITTLE BIT HIGHER THAN NORMAL.
SO WHAT, WHAT THAT MEANS FOR THE CITY IS THAT THAT'S WHAT WE'RE PAYING AND SO THAT THE PERSON PURCHASING IS GONNA GET MORE BACK FOR THEIR MONEY.
AND, AND CERTAINLY THE LAST FEW YEARS WE'VE SEEN KIND OF AN ANOMALY WITH INTEREST RATES REALLY BEING LOWER THAN I WOULD SAY IS HEALTHY FOR THE OVERALL ECONOMY ON A HISTORICAL BASIS.
MEANING LOOKING BACK 20, 30 YEARS AND BEYOND, UH, LOCKING IN INTEREST RATES FOR 30 YEARS AT 4.55%, UH, IS VERY GOOD.
IF YOU LOOK AT THE YIELD CURVE OVERALL, MEANING WHAT, YOU GO OUT AND BUY A ONE YEAR CD AND THE CITY'S INVESTMENT PORTFOLIO IS REFLECTING THIS, THEY'RE GETTING 5% BORROWING MONEY AT ONE YEAR.
UH, AND IT'S RELATIVELY FLAT YIELD CURVE RIGHT NOW CAUSE WE'RE AT 4.55% OUT 30 YEARS.
SO, UM, WHILE INTEREST RATES ARE HIGHER THAN THEY HAVE BEEN, I WOULD SAY THEY'RE STILL VERY LOW COMPARED TO A HISTORICAL NORM.
THE QUESTION I HAVE, UM, IS THAT WE DO HAVE IT FOR A 30 YEAR THAT WOULD, COULD THERE, I GUESS A LOT OF IT HAS TO DO WITH THE MARKET TO WHERE WE WOULD BE ABLE TO EVENTUALLY GET IT AT A LOWER RATE.
DO YOU THINK, DO YOU THINK IT'S BECAUSE THAT WE HAVE IT OUT SO LONG, THE 30 YEAR PLAN THAT WE HAVE IT AT THIS PERCENTAGE RIGHT HERE, IF JUST SAYING THAT IF THEY EVER DECIDE FUTURE COUNCILS DECIDE TO GO WITH A 25 YEAR PLAN, HOW WOULD THAT AFFECT THE BOND RATING AND THEN ALSO THE PERCENTAGES.
SO THE BOND RATING WILL BE UNAFFECTED AND OUR BOND RATING CAME IN AT THAT TRIPLE B PLUS CATEGORY.
THE RATING AGENCY DOESN'T TAKE, DIDN'T TAKE EXCEPTION TO MM-HMM.
IT TOOK EXCEPTION OR TAKES EXCEPTION TO THE CONCENTRATION OF TAXPAYERS.
SO THERE'S A CONCENTRATION OF RISK THAT AS WE GET BUILT OUT, AS THOSE HOMES ARE, ARE BUILT OUT, YOU'VE GOT NOW LOTS OF SINGLE FAMILY ET CETERA, THAT ARE PAYING THOSE PROPERTY TAXES THAT'S GONNA DRIVE THAT CREDIT RATING UP AND THAT'LL DRIVE THE BORROWING COST DOWN.
UH, ALL THINGS BEING EQUAL OVER TIME, UM, RELATIVE TO, SO THAT 30 YEAR DOESN'T IMPACT THE CREDIT RATING.
CERTAINLY THE LONGER YOU GO OUT, UH, GENERALLY SPEAKING, YOU'RE GONNA PAY A HIGHER INTEREST RATE.
THE DIFFERENCE IN INTEREST RATE BETWEEN 20 YEARS AND 30 YEARS, UM, IS NOT INSIGNIFICANT.
THE RATES ARE, UM, NOT A GREAT DEAL MORE THAN THAT 4.5 OR THERE WOULDN'T BE A GREAT DEAL LESS THAN THAT 4.55% THAT WE'RE LOCKING IN.
UH, BUT YOU ARE PAYING INTEREST OVER THAT ADDITIONAL 10 YEARS.
SO THOSE DOLLARS, UH, DO ADD UP THESE BONDS, JUST LIKE ALL OF OUR OTHER OUTSTANDING BONDS WILL BE CALLABLE 10 YEARS FROM NOW.
SO, UH, TO THE EXTENT THERE'S EITHER LOWER PREVAILING INTEREST RATES 10 YEARS FROM NOW, OR THERE'S A SURPLUS OF MONEY IN THE TURS, UH, THIS DEBT COULD BE EITHER REFINANCE OR, OR BOUGHT DOWN.
THAT'S EXACTLY KIND OF WHAT I WAS LOOKING AT CUZ BY THE STATISTICS OF LIKE WITH THE SCHOOL DISTRICT AND THEIR BOND AND OF HOW MANY MORE STUDENTS THEY'RE LOOKING IN THE NEXT COUPLE YEARS, WE'RE GONNA BE PUSHING 30,000 STUDENTS IN OUR AREA.
SO IMAGINE THE FAMILIES THAT COME ALONG WITH THE BUSINESSES.
SO WHEN IT COMES TO THIS AREA YEARS FROM NOW WHERE WE'RE LIKE SAYING, HEY, WE'RE GENERATING A LOT MORE MONEY DOUBLE THAN WHAT WE HAVE.
IS THERE A WAY THAT IF FUTURE COUNCILS YEARS FROM NOW WOULD COME BACK AND SAY, LET'S GO AHEAD AND KNOCK THE 30 YEAR OFF AND MAKE IT 25 TO WHERE WE CAN PAY IT OFF QUICKER.
BUT AGAIN, I UNDERSTAND THAT YOU'D HAVE TO, WE'D HAVE TO SEE WHERE WE'RE AT AS FAR AS AT THE MARKET AT THAT TIME.
CAUSE WE CAN'T SAY, WELL, WE'RE GONNA GET IT AT THIS LOWER PERCENTAGE, BUT IF WE ARE PAYING DOUBLE ON IT, LIKE, YOU KNOW, YOU'RE MAKING THAT EXTRA CAR PAYMENT, WOULD THAT BENEFIT US IN THE LONG RUN TO WHERE WE, WE COULD BE ABLE TO PAY THIS OFF QUICKER? WE, THAT COUNCIL 10 YEARS FROM NOW WILL CERTAINLY HAVE, UH, THAT DECISION TO MAKE.
UH, WHETHER TO BUY DOWN THE BONDS, MAKE THEM GO AWAY BY PAYING OFF THE INVESTOR AT PAR WITHOUT A PENALTY MM-HMM.
TO SHORTEN THAT MATURITY, UH, UP, UH, JUST HAVE TO SEE HOW THINGS PLAY OUT.
AND CERTAINLY, CERTAINLY IT'LL BE A, A
[00:10:01]
DECISION FOR THIS BOARD AND, AND CITY COUNCIL.IT'S A MATTER OF PAYING YEARS OF INTEREST VERSUS SAYING WE COULD PAY IT OFF QUICKER, BUT THEN THERE'S THAT PENALTY SURE.
FOR PAYING OFF QUICKER, WHICH IS, WHICH IS, BUT THERE, THERE'S, THERE'S NOT A PENALTY FOR PAYING IT OFF EARLIER, BUT WE CANNOT TAKE THEM FROM THE INVESTOR.
THEY'RE PROTECTED UP TO THAT CALL OPTION 10 YEARS FROM NOW.
ANY OTHER COMMENTS? IS THERE ANYTHING ELSE, ANDREW, THAT YOU NEEDED TO REVIEW OR WANTED TO REVIEW? NO, MA'AM.
REGARDING THIS, HAPPY TO ANSWER JUST ANY QUESTIONS THAT YOU ALL HAVE.
AND I DOESN'T LOOK LIKE THERE'S ANY ACTION TO BE TAKEN ON THIS.
UH, IF THERE'S NOTHING ELSE, WE'LL MOVE ON.
AND, UH, I FAILED TO, UH, ASK FOR CITIZEN COMMENTS.
IS THERE ANYBODY THAT, UH, WHO HAS SIGNED UP OR WOULD THAT WOULD LIKE TO SPEAK UNDER CITIZEN COMMENTS? I THINK WE DID.
[7. Discussion and possible action regarding the TIRZ #2 FY 2023-2024 Budget.]
OKAY, THEN WE'LL MOVE ON.WE'RE GONNA MOVE AROUND JUST A LITTLE BIT.
UH, UNDER, UH, FIVE, UH, WE'RE GONNA GO TO NUMBER SEVEN, DISCUSSION AND POSSIBLE ACTION REGARDING THE TURS TWO FY 20 23, 24 BUDGET.
WHO'S GONNA LEAD THAT DISCUSSION? SO WHO CREATES THAT BUDGET? WELL,
WE'RE ALSO REALLY SCRUBBING THE BUDGET TO MAKE THE BUDGET FOR, FOR ADDITIONAL DEATH SERVICE AS WE CAN.
WE'RE IN THE VERY BEGINNINGS OF DEVELOPING THAT BUDGET.
BUT IF YOU HAVE ANY SPECIFIC QUESTIONS ABOUT THAT OR THE DEVELOPMENT OF IT OR ANY DIRECTION TO GIVE US, US IN THE DEVELOPMENT OF IT, WE'RE HERE TO ACCEPT THAT.
YEAH, I THINK, UH, ONE OF THE COMMENTS THAT WAS MADE, BECAUSE WE ARE INVOLVED WITH SO MANY OTHER TERMS, UM, THE, UM, THE CITY OF SAN MARCOS WANTED US TO PAY FOR EMPLOYEES.
UH, AND WE FELT THAT IF THAT WAS SOMETHING THAT THE, UH, CITY WANTED TO DO IS TO HIRE EMPLOYEES FOR ANY KIND OF MAINTENANCE AND OPERATION OF THE AREA, THEN, YOU KNOW, THAT WAS SOMETHING THAT WAS PROBABLY THE RESPONSIBILITY OF THE CITY.
AND SO WE PROBABLY WOULD PREFER THAT NO EMPLOYEES, UH, BE PAID.
NOW WE ARE, WE, WE DO HAVE A PILOT PROGRAM.
UH, THERE ARE A COUPLE OF PART TIMES THAT WE'RE PART-TIMERS THAT WE'RE PAYING RIGHT NOW.
UM, AND SO THIS WILL BE THE SECOND YEAR.
BUT AFTER THAT, I THINK IT'S PRETTY CLEAR THAT, YOU KNOW, WE REALLY DON'T BELIEVE THAT WE SHOULD BE PAYING FOR EMPLOYEES.
ACTUALLY, WE CURRENTLY HAVE NO EMPLOYEES IN THE BUDGET.
WE DO HAVE THREE CONTRACTS FOR LANDSCAPING, THE MAINTENANCE OF THE PARK, BUT NO CITY EMPLOYEES ARE FUNDED OUT FINE.
SO THAT WAS, YEAH, I THINK THE BIGGER CONCERN IS THE EMPLOYEES COVERED.
SO I THINK WE'LL, WE'LL PROBABLY HAVE TO HAVE A, UH, A BUDGET BE ADOPTED, UH, AT SOME POINT.
AND I'M NOT SURE IF THAT WILL COINCIDE WITH THE NEXT FISCAL YEAR.
UH, SO THAT MIGHT BE SOMETHING WHERE WE COULD HAVE A PRELIMINARY BUDGET AT OUR NEXT, AT OUR NEXT MEETING TO ADOPT.
AND SO, BUT STRATEGICALLY AS, AS, AS HAS BEEN SAID, I THINK THE, THE PLAN IS FOR THE CITY'S, UH, UH, CONTRIBUTION TO BE USED FOR CAPITAL PROJECTS.
AND THEN THE COUNTY'S CONTRIBUTION TO BE USED FOR A COMBINATION OF THOSE CONTRACTS THAT WE'RE DISCUSSING, UH, AS WELL AS THERE'S A LITTLE BIT OF LEGAL FEES ASSOCIATED WITH THE TURS AND SOME SMALL ITEMS. AND THEN ALSO TO HELP, UH, BRING, UH, CASH FUNDING TO THE CITY SO THAT THAT CAN BE USED TO CASH FUND ADDITIONAL PROJECTS.
BECAUSE THAT'S THE, THE COUNTY'S BEEN MORE, UH, RECEPTIVE TO THAT KIND OF A, A STRATEGY.
SO I JUST WANTED TO MAKE SURE THAT WE'RE ALL SORT OF IN AGREEMENT ABOUT HOW THE, THE BUDGET IS BEING SET UP.
BUT I DO THINK THAT WE OUGHT TO GIVE DIRECTION AND, AND TO ACTUALLY BRING BACK A FORMAL BUDGET TO ADOPT.
SO, SO WOULD THIS BE A BUDGET THAT WE BRING FORWARD FOR THE TURS TO FINALLY SAY, OKAY, THIS IS HOW MUCH THE MAINTENANCE IS GONNA COST.
THIS IS FOR ANY ROAD REPAIRS AND THIS IS WHAT THE COUNTY IS, UH, YOU KNOW, ARE WE GOING TO BE SAYING THIS COUNTY, YOU'RE GONNA BE HAVING THIS PERCENTAGE OF IT, OR CITY'S GONNA BE IN CHARGE OF IT, AND THEN WHEN WE DO, WE'RE GONNA ACTUALLY HAVE, NOT CONTRACTORS, BUT WE'RE GONNA HAVE CITY EMPLOYEES THAT WOULD HANDLE THAT.
IS IT, I'M JUST TRYING TO, SO I KNOW THIS IS BRAND NEW.
THIS WILL BE A GRASSROOTS, UH, BUDGET FOR THIS TUR WELL, THE GETTING AN UNDERSTANDING OF THIS, THE REVENUE AND THE EXPENSE SIDE AREN'T GONNA BE CONNECTED.
[00:15:01]
IS THE CITY'S REVENUE AND THE CITY'S EXPENSE.THIS IS THE COUNTY'S REVENUE IN THE COUNTY.
IT'S JUST A TOTAL REVENUE LINE.
BROKEN DOWN BY CITY AND COUNTY.
AND THEN THERE'S A, A TOTAL EXPENSE LINE THAT HAS DEBT SERVICE AND O UH, O AND M AND CON, WHICH IS WHERE THE CONTRACTS COME THROUGH.
SO, BUT, BUT WE NEED TO MAKE SURE THAT WE DO NOT ALLOW OUR O AND M TO EXCEED THE AMOUNT THAT THE COUNTY IS CONTRIBUTING.
AND IN FACT, IT SHOULD BE MAYBE HALF OF WHAT THE COUNTY IS CONTRIBUTING.
SO THAT THE REST CAN BE CASH RESERVES THAT ARE COMING IN TO FUND PROJECTS LIKE THE UPGRADE A LIGHT POLE OR SOMETHING, OR A PARKING LOT.
WE'RE GONNA DISCUSS TWO PROJECTS POTENTIALLY HERE IN JUST A MINUTE.
THAT ONE OF THEM, WE MIGHT HAVE THE ABILITY TO CASH FUND.
SO, BUT THEN THE CITY'S REVENUES PORTION, THAT'S THE AMOUNT THAT AS THEY'RE DOING THEIR PROFORMAS, WHICH AGAIN WE'RE GONNA DISCUSS IN JUST A SECOND, UM, THEY'RE LOOKING AT THE CITY'S PORTION, WHICH IS BONDABLE.
SO STRATEGICALLY, ESPECIALLY FOR THE NEXT THREE YEARS, BECAUSE WE HAVE THE ABILITY TO ISSUE, UH, FULL TUR REVENUE BONDS FOR THE NEXT THREE YEARS.
UM, WE LOOK AT THOSE CASH FLOWS AND TRY TO PREPARE PROJECTS THAT WE NEED TO BE PUTTING IN LINE MM-HMM.
AND WE ALSO DON'T WANNA CANNIBALIZE THE CITY'S REVENUE BECAUSE THE CITY'S REVENUE HAS THE ABILITY TO BE LEVERAGED INTO LARGER PROJECTS.
AND WE'LL BE ABLE TO MAKE SURE THAT THE COUNTY HAS FUND, UH, UM, AN IDEA WHERE THEIR FUNDING IS.
SO THAT WAY IN YEARS TO COME, IF, LET'S JUST SAY ANOTHER CITY LIKE BUTTA OR SAN MARCUS WANTS TO KIND OF MODEL SOMETHING LIKE THIS, THEY HAVE AN IDEA OF LIKE, WELL, THIS IS HOW KYLE IS DOING THEIR BUDGET.
TO WHERE OTHER TAXPAYERS WILL KIND OF SEE IT FROM THERE TO SEE WHERE, YOU KNOW, HOW THE COUNTY'S CONTRIBUTING TO OUR CIVILIAN.
I, I, I JUST THINK THAT IT'S GENERALLY A GOOD PRACTICE WHEN YOU'RE, WHEN YOU'RE CREATING A TURS THAT, THAT WHERE THE REVENUES AREN'T GOING BACK INTO A DEVELOPMENT DEAL MM-HMM.
SO THAT'S, THAT'S REALLY WHAT, THAT'S WHAT I'M TRYING TO MAKE SURE THAT WE DO HERE.
ARE YOU MAKING A MOTION? UH, I'D LIKE TO MAKE A MOTION TO DIRECT STAFF TO BRING BACK A FORMAL BUDGET, UH, FOR JURORS NUMBER TWO, UH, AND TO HAVE THAT BUDGET PROCESSED LINE WITH THE CITY'S, UH, BUDGET.
I, I WOULD LIKE TO, UM, ASK IF THE COUNTY COULD BE INVOLVED IN THOSE MEETINGS EITHER VIRTUALLY OR LIKE IN PERSON.
UM, THAT WAY WHEN THEY COME, THEY'RE NOT JUST READING PAPER, BUT THEY ACTUALLY GET INPUT ON HOW THEY WOULD LIKE TO SEE THAT MONEY SPENT AS WELL.
AND I WAS GONNA JUST SAY, JERRY, AS Y'ALL ARE DEVELOPING THAT BUDGET, MAYBE YOU CAN, UH, BEFORE IT'S PRESENTED FOR ANY KIND OF MOTION TO THIS BOARD, UH, THAT YOU GIVE US TIME TO JUST TAKE A LOOK AT IT MM-HMM.
OR WE CAN ALSO SCHEDULE BUDGET MEETINGS FOR THE TURS BOARD AS WE GO THROUGH DEVELOPMENT PROCESS, VERY SIMILAR TO WHAT WE DO WITH THE CITY COUNCIL.
THAT'S, THAT'S HOW I SEE IT HAPPENING.
SO THE THOUGHT OF IT BEING A PART OF OUR BUDGETING CYCLE WOULD MEAN THAT WE WOULD HAVE MEETINGS AHEAD OF WHEN WE WERE ADOPTING TO GO OVER IN VERY DRAFT WORKSHOP FORMAT SO THAT WE CAN ALL DISCUSS WITHOUT ACTION BEING TAKEN ALMOST.
AND, YOU KNOW, MAYBE EVEN A PUBLIC HEARING ON IT.
SO YEARLY CITY, OUR CITY BUDGET ALONG WITH TOURIST TWO.
SO WE CAN COMBINE THEM TOGETHER.
SO THERE IS A MOTION AND A SECOND TO DIRECT STAFF TO BRING BACK, UH, RECOMMENDATIONS ALREADY THE BUDGET.
AND, UH, IS THERE ANY OTHER DISCUSSION? IF NOT ALL IN FAVOR SAY AYE.
[6. Discussion and possible action for issuing RFQ for intersection improvements at Kohlers and Sanders, Benner, and Cromwell, as well as pedestrian and lighting improvements along Kohlers.]
UH, NEXT ITEM IS NUMBER SIX, DISCUSSION IMPOSSIBLE.ACTION FOR ISSUING RFQ FOR INTERSECTION IMPROVEMENTS AT KOHLER AND SANDERS, BENNER AND CROMWELL, AS WELL AS PEDESTRIAN AND LIGHTING IMPROVEMENTS ALONG KOHLERS.
DO YOU WANT ME TO START? GO AHEAD.
SO THE, THE THINKING HERE, SO THE FIRST OF ALL, THIS, UH, AND SAMCO CAN, CAN PRESENT THIS MORE.
UM, THE $8 MILLION BOND THAT WE ISSUED ONLY, UH, CONSUMED ABOUT 35 TO 40% OF THE CASH FLOWS THAT THE CITY IS BRINGING FORWARD, UH, AND, UH, IN CURRENT YEAR.
AND THOSE OVER THE NEXT THREE YEARS ARE GOING TO GROW.
SO I, I'VE ASKED SAMCO TO PUT TOGETHER, UH, A SENSE OF HOW MUCH BONDING CAPACITY DO WE STILL HAVE, UH, AND ALSO WHAT, WHAT PROJECTS ARE ON THE GROUND, WHAT DO WE EXPECT THE BONDING CAPACITY TO BE BY THE TIME THE TURS IS,
[00:20:01]
IS PAST THE POINT OF BEING ABLE TO ISSUE 30 YEAR TURS REVENUE BONDS WITHOUT, UH, SEEKING AN EXTENSION SO THAT WE HAVE JUST A SENSE OF WHAT OUR PROJECTS DOLLARS COULD BE.AND SO THEY'VE SHOWN HERE, AND I'M, UH, ON, ON THE WIDE SHEET, ON LINE EIGHT, UH, THAT WE COULD POTENTIALLY ISSUE A SERIES 2024 TUR REVENUE BOND OF 15,300,000, AND THEN AN ADDITIONAL SERIES 2026 TUR REVENUE BOND OF 14,900,000.
AND THEN THEY'RE SHOWING A 2028 REVENUE SERIES, UH, UH, POTENTIAL FOR 7 MILLION.
UH, BUT I DON'T KNOW IF THAT IS AMORTIZED AT 29 YEARS OR 28 YEARS.
DID Y'ALL, DID Y'ALL AMORTIZE IT TO THE END TO MATCH IT TO, TO TO THE END OF THE TUR TO THE END OF THE TURF? YEAH.
SO THERE'S KIND OF A SENSE THESE, THESE ARE PRELIMINARY, BUT IT'S A SENSE THE H LINE IS GONNA BE PRETTY, PRETTY ACCURATE BECAUSE THAT'S PROJECTS THAT ARE ON THE GROUND AND CASH FLOWS THAT ARE ALREADY BEING RECEIVED.
BUT THE EYE LINE AND THE J LINE, UH, ARE, ARE ESTIMATES, UH, OF WHAT COULD, WHAT COULD TAKE PLACE.
AND SO IT'S FOR SOME TIME NOW, I'VE BEEN TRYING TO FIGURE OUT, YOU KNOW, FOR MYSELF, WHAT PROJECTS I THINK ARE IMPORTANT.
I DO THINK THAT IT IS IMPORTANT FOR US TO, UM, CONSIDER UTILIZING THESE CASH FLOWS TO LEVERAGE INTO PROJECTS.
AND THE, THERE HAVE BEEN THREE, THIS IS WHAT WE DISCUSSED AT THE LAST TIME.
ONE IS THE POTENTIAL FOR STRUCTURED PARKING.
UH, THE, UH, UH, TWO IS THE POTENTIAL FOR, UM, ROUNDABOUTS AT KOHLERS AND SANDERS, BANNER AND CROMWELL.
AND THEN THE THIRD IS A POTENTIAL FOR, UH, UH, SURFACE PARKING BY LABORDE.
BUT THE SURFACE PARKING PROJECT, WHICH IS THE NEXT ITEM UP, UH, THAT'S SOMETHING THAT I THINK LEON IS PREPARED TO TALK TO AND WE CAN DISCUSS THAT.
IT MAY NOT BE A SITUATION WHERE WE HAVE TO ISSUE ANY BONDS FOR THAT AT ALL.
BUT THE CAPACITY THAT WE HAVE CURRENTLY, UH, WILL BE VERY CLOSE TO SUFFICIENT.
UH, IT MAY BE FULLY SUFFICIENT TO FULLY ENGINEER THE ROUNDABOUTS, UH, THE, WITH A FOCUS ON PEDESTRIAN CROSSINGS ACROSS KOHLERS ON ALL THREE OF THOSE SECTIONS.
AND THEN THE PEDESTRIAN UNDERPASS UNDERNEATH BENNER, UH, AS WELL AS SIDEWALKS AND LIGHTING ALONG COALERS TO ALLOW FOR PEOPLE TO, UH, PEDESTRIANS.
CUZ THE IDEA IS THAT AT THE BRICK AND MORTAR DISTRICT, WE WANT IT TO BE DENSE, BUT WE ALSO WANT IT TO BE FOCUSED ON PEDESTRIAN MOBILITY AND SAFETY.
SO WHAT I WANTED TO PROPOSE WAS THAT WE ISSUE AN RFQ, UH, TO, WHICH MEANS THAT WE STILL, THERE'S NO MONEY BEING, IT'S JUST GOING OUT AND SOLICITING FOR BIDS, UH, AND TO SEE ABOUT HIRING A FIRM, UH, WHO COULD POTENTIALLY DESIGN AND PREPARE AND START THIS POTENTIAL PROJECT.
AND THEN THERE HAVE BEEN DISCUSSIONS ABOUT DOING A STRUCTURED PARKING DEAL.
THAT STRUCTURED PARKING DEAL IS, IS NOT QUITE RIGHT YET BECAUSE WE DON'T, WE DON'T, I FEEL LIKE IT'S PROBABLY PRUDENT FOR US TO, UM, PARTNER WITH A PRIVATE DEVELOPER WHO IS INTENDING TO BUILD A COMPANY PROJECT.
AND THEN AT THAT TIME WE COULD DEVELOP A STRUCTURED PARKING PROPOSAL, WHICH IS WHERE THE SERIES 2026 AND 2028 BONDS MIGHT COME IN PLAY.
THAT WOULD BE IN CONCERT WITH A PRIVATE ENTITY.
SO YOUR IDEA WHEN IT COMES TO THE PARKING, THE STRUCTURE PARKING, THAT IF WE HAVE A DEVELOPER THAT COMES IN OR THAT COULD BE ABLE TO HELP FINANCE THAT THROUGH A DA YEAH.
SO IT WOULD BE LIKE, AND THEN THAT WAY WE DON'T HAVE TO USE HERS MONEY FOR THAT PARKING SITUATION THERE, OR FOR THE, FOR THE STRUCTURE ITSELF.
SO WE'RE BUILDING THE RETAIL ROADS, THAT'S WHAT THIS CURRENT BOND IS.
SO IT'S GONNA CREATE HARD CORNERS WITHIN, FULLY BUILT OUT HARD CORNERS IN THAT'S LIKE TWO URBAN STREETS OR 20 FOOT SIDEWALKS.
THAT'S WHAT'S GONNA GET CONSTRUCTED.
IN WHICH CASE THE, THE TYPE OF DEVELOPMENT WILL BE LIKE WRAP STYLE MM-HMM.
AND THEN BEHIND, IF YOU HAVE TO SURFACE PARK IT, IT'S JUST A TON OF SURFACE PARKING.
SO IF THEY WOULD COME IN READY TO BUILD, UH, THEN WHAT WE COULD POTENTIALLY DO IS PARTNER WITH THEM ON A STRUCTURED PARKING GARAGE WHERE IT WOULD BE AVA, IT'S JUST, IT'D BE AVAILABLE FOR THE PUBLIC SO THAT THEY COULD COME IN AND PARK AND GET OUT AND SHOP AT A VARIETY OF PLACES, DIFFERENT PLACES.
BUT WE DON'T WANT TO BUILD A STRUCTURED PARKING AND NOT HAVE ANY RE NOT HAVE ANY BUILDINGS THERE.
IT JUST WOULD EXIST ALL BY ITSELF.
SO I THINK THAT'S COMING, BUT IT HAS TO COME FIRST.
THE RETAIL ROADS HAVE TO GET CONSTRUCTED.
THEN SOMEONE HAS TO COME IN AND WANT TO DO A PRIVATE DEVELOPMENT.
AND THEN WITH THAT PRIVATE DEVELOPMENT,
[00:25:01]
THERE'S OPPORTUNITY FOR US TO DO A STRUCTURED PARKING, KIND OF LIKE THE MUL MUELLER CONCEPT.WITH THE PARKING, EXCEPT IF THE MUELLER WASN'T BONDED OUT.
AND THAT, AND THAT'S MY CONCERN.
BUT THAT'S, THAT'S, THAT WOULD BE THE KIND OF THE CONCEPT YEAH.
TO, I LIKE THE CONCEPT TO, TO UM, ASSIST WITH, UH, WITH THE PARKING, THE FUTURE GROWTH AND THE FUTURE PARKING SITUATION AHEAD OF TIME VERSUS JUST LAYING ASPHALT OUT IN A, IN A FIVE ACRE AREA WHERE WE COULD EVENTUALLY WE HAVE THE, UH, THE START BUILDING UP, YOU KNOW, I KNOW WE HAVE A FIVE STORY LIMIT OR WE HAVE A, UM, CAP, BUT IF WE WERE TO LOOK AT THAT, I THINK THAT'S KIND OF WHAT YOU'RE, YOU'RE KIND OF PROJECTING OR HAVING THE IDEA OF WHEN IT COMES TO THAT SPECIFIC STRUCTURE ITSELF AS FAR AS THE PARKING.
SO, BUT I, WHAT I'M SUGGESTING IS THAT THE STRUCTURED PARKING BE OUR NEXT, SO BASICALLY WE HAVE TWO MAJOR CIS LEFT IN THIS INITIAL PHASE WITH THESE CASH FLOWS THAT WE HAVE.
SO WE'D BE LOOKING AT TRYING TO PREPARE FOR STRUCTURED PARKING DEAL IN 2028 AND PREPARING FOR INTERSECTION AND PEDESTRIAN IMPROVEMENTS ON KOHLERS IN 2020.
BECAUSE IT, IT, I ALSO LOOK AT IT AS A WIN 2026 IS WHAT I'M SAYING FOR THE, TO POSSIBLY ASSIST WITH THE SCHOOL DISTRICT ON THAT END, CUZ GOING TO MY SON'S BAND CONCERT.
AND SOME PEOPLE WERE LIKE HAVING TO PARK ON THE SIDE OF THE ROAD.
YOU HAVE WELL THAT'S WHERE THE ITEM NUMBER FIVE ACTUALLY.
SO THAT WILL BE KIND OF THE IDEA THERE TO HELP WITH THAT FOR THE FUTURE GROWTH MATTER.
BUT IT'S GONNA BE A DIFFERENT PARKING LOT.
HE'S SAYING THAT'S WHAT YOU'RE TALKING ABOUT IS FOR NUMBER FIVE MM-HMM.
AND THERE'S, THERE'S, WE NEED TO DEVELOP A PLAN FOR THAT.
BUT WE, WE NEED A DEVELOPER AT THE TABLE WITH US WHO'S GONNA, AND THEN WE CAN CONTROL USE ON THE BOTTOM, WE CAN CONTROL MORE.
WE ALREADY HAVE CERTAIN, WE ALREADY CAN CONTROL USE, BUT WE CAN CONTROL IT MORE BY BEING A PARTNER, UH, THROUGH A PUBLIC PRIVATE PARTNERSHIP TO BUILD STRUCTURED PARKING, UH, FOR THE DISTRICT.
SO TURS TWO FUNDS HAVE TO BE USED TO CONSTRUCT, IF WE'RE USING TURS FUNDS, THEY HAVE TO BE FOR A PUBLIC PURPOSE.
SO IT HAS TO BE FOR PUBLIC INFRASTRUCTURE.
SO THE PARKING LOTS HAVE TO BE PUBLIC IN THAT WAY.
BUT, UM, I WOULD LIKE TO HAVE, I'D LIKE TO HAVE FEEDBACK FROM THE GROUP ON WHETHER OR NOT Y'ALL THINK THAT, UH, GOING OUT TO RFQ TO START THE ENGINEERING, UH, FOR THE INTERSECTION IMPROVEMENTS ON KOHLER'S IS A GOOD, GOOD PROJECT FOR US TO PURSUE.
I WISH WE HAD MORE INFORMATION ON FINANCE AND HOW, WHAT THE NUMBERS LOOK LIKE.
UM, IS IT A GOOD IDEA? I THINK IS A GREAT IDEA.
I THINK EVERYTHING YOU PRESENTED IS A GREAT IDEA.
I JUST, THAT'S, THAT'S A LOT OF MONEY AND IT SEEMS LIKE WE'RE HAVING TO BOND OUT FOR IT.
AND SO THAT MAKES ME A LITTLE BIT UNCOMFORTABLE IF WE CONTINUOUSLY BOND OUT.
UM, WE'RE LOOKING AT WHAT, THREE TIMES IN THE NEXT FIVE YEARS.
THAT, THAT TO ME IS, I THINK THAT'S SOMETHING THAT A, I THINK WOULD INQUIRE THE FEEDBACK OF OUR NEW CITY MANAGER JUST TO GET A GOOD IDEA OF WHAT HE THINKS.
UM, I JUST THINK THAT'S A LOT OF BONDING OUT.
AND WHAT'S THE TOTAL BOND OUT FOR THOSE THREE, THREE YEARS THAT WE WOULD BOND OUT RIGHT NOW, ROUGHLY 35 TO $36 MILLION BASED UPON THE ASSUMPTIONS AS TO THE TAXABLE VALUE GROWTH WITHIN THE TURS THAT WE'RE MODELING PRESENTLY.
AND THERE COULD BE MORE CAPACITY THAN THAT CUZ WE'RE ASSUMING A 15% GROWTH IN THE INCREMENT BETWEEN NOW AND 2027 AND THEN 5%, UH, PER YEAR THEREAFTER THIS YEAR.
AND THEY'RE PRELIMINARY STILL THAT GROWTH IS 47%.
SO IF WE HAVE THAT GROWTH IN THERE, WHY DON'T WE USE THAT MONEY INSTEAD OF BONDING OUT? THE REASON THAT THE DETERS BONDS OR CITIES BOND GENERALLY IS, UH, IT TAKES A LONG TIME TO ACCUMULATE THE AMOUNT OF MONEY TO SUPPORT THESE PROJECTS.
SO YOU'D BE TALKING ABOUT DEFERRING THE CONSTRUCTION OF THESE ROAD PROJECTS OR STRUCTURED PARKING UNTIL YOU'VE SAVED UP ENOUGH IN, IN THE SAVINGS ACCOUNT, ESSENTIALLY TO PAY CASH FOR THEM.
BUT, SO THIS IS LEVERAGING THE DETERS DOLLARS.
YOU SAID IT WAS A 47% INCREASE.
I DON'T KNOW WHAT THAT MEANS MONEY WISE, UH, IN WELL THAT'S, IF YOU WANT TO, IF WE WANNA LOOK AT THIS PROFORM ANALYSIS, AND I KNOW THERE'S A LOT OF NUMBERS ON HERE.
UM, LOOKING AT THE SECOND COLUMN, THAT'S THE INCREMENTAL VALUE TO TURS TWO.
SO IF YOU LOOK AT FISCAL YEAR 2024, WHICH IS WHAT THE PRELIMINARY TAXABLE VALUES, UH, THAT HAVE JUST COME OUT, ARE IN REFERENCE TO, THEY'VE GONE UP TO $650,000 IN INCREMENTAL VALUE AGAINST A 57 CENTS CITY TAX RATE THAT'S BRINGING IN $1,853,000
[00:30:02]
COMPARED TO THE YEAR BEFORE 1,000,030 $2,000.AND SO AS YOU FOLLOW THAT INCREMENTAL REVENUE FROM THE CITY, AND AGAIN, THIS IS MODELED OUT ASSUMING 57 CENT TAX RATE THIS NEXT YEAR UP TO 59 CENTS IN TAX RATE.
UH, BECAUSE IF YOU GO BACK TO THE 300 MILLION BOND ELECTION WE HAD, WE'RE ASSUMING WE'RE GONNA TAKE THE TAX RATE UP TO THAT 59 CENTS.
THAT'S WHERE THAT ANNUAL REVENUE FROM THE TURS FOR THE CITY IS COMING FROM.
NOW, THERE'S THE COUNTY'S PORTION OF THE INCREMENTAL REVENUE, BUT WE'RE LOOKING AT TURS BONDS AS WE KNOW, THE COUNTY'S REVENUES CAN'T BE PLEDGED TOWARDS THE REPAYMENT OF THE BOND.
SO WE'RE NOT EVEN LOOKING AT THE COUNTY'S REVENUES WHEN IT COMES TO WHAT IS OUR BONDING CAPACITY FOR THIS TURS.
BUT IF WE DON'T BOND, WE CAN INCLUDE THEIR MONEY IN THE CIS IN THAT AREA.
SO I GUESS MY QUESTION WOULD JUST BE CAN YOU JUST SHOW US THE DIFFERENCE BETWEEN THE BONDING AND THEN IF WE, WHAT IT WOULD LOOK LIKE IF WE HAD TO SAVE UP, JUST OUT OF CURIOSITY? SURE.
YOU'D BE ADDING UP COLUMNS D AND COLUMN R UH, TO COME UP WITH THAT MONEY.
THAT'S ROUGHLY, UH, THIS NEXT YEAR CLOSE TO 3 MILLION.
AND THAT'S GROWING FROM $3 MILLION THIS NEXT YEAR TO MAYBE CLOSE TO $5 MILLION A YEAR, A FEW YEARS FROM NOW.
UH, SO IT WOULD TAKE SEVERAL YEARS, UH, TO COME UP FOR THE GARAGE, BUT LIKE HOW MUCH WOULD IT BE FOR THE ROUNDABOUT? WE, SO WE DON'T, I DON'T KNOW WHAT THOSE COST.
UM, BUT IF YOU'RE SAVING $3 MILLION A YEAR IN 10 YEARS, YOU'VE GOT, MAYBE, YOU KNOW, THAT 30 MILLION IN TOTAL.
BUT THAT'S NOT TAKING INTO CONSIDERATION THE VARIOUS EXPENSES OF RUNNING THE TURS, UH, WHICH ARE ACCOUNTED FOR IN COLUMNS, UH, M THROUGH, UH, OR IT'S SUMMARIZED IN COLUMN P AND DEBT SERVICE ON THE BOND.
AND, AND WE'VE GOT THE DEBT SERVICE ON THE EXISTING BONDS THAT WE'VE ISSUED.
SO, SO WOULD THIS ALSO BE PART OF THE YEARLY BUDGET THAT WE WOULD'VE TO LOOK AT AS WELL? I'M SORRY FOR US, WOULD THAT HAVE TO, IF WE WERE TO GO THIS ROUTE, WOULD THIS HAVE TO BE SOMETHING THAT WE WOULD'VE TO BRING UP EVERY BUDGET YEAR TO SEE WHERE WE'RE AT ON OUR FINANCES? WE WOULD, BUT IT'S THE, THE CAPACITY IS, IS THERE THE PROCESS THAT WE GO THROUGH, IT'S A, IT'S A COMMITMENT TO THE PROJECTS, SO MM-HMM.
WHAT WE NEED TO DO IS HIRE SOMEONE TO BEGIN SCHEMATICS ON IT ALL.
AND SO THAT'S WHAT GETS INCORPORATED INTO THE BUDGET, YOU KNOW, OVER TIME.
SO THE INITIAL COMMITMENT THOUGH, IF YOU'RE THINKING OF A PROJECT THAT MIGHT COST 15 MIL MILLION, IF IT'S A 10% IS YOUR SOFT COST ON THAT, THAT'S A MILLION AND A HALF DOLLARS.
SO WHAT WE DON'T WANT TO DO IS SAY, YES, WE'RE, WE'RE GONNA DO THIS, BUT WE'RE GONNA CASH FUNDED AND THEN WE'RE GONNA DESIGN ROUNDABOUTS THAT WE CANNOT FUND BECAUSE WE DON'T HAVE ENOUGH CASH THAT WE CAN SAY, WELL, IN FIVE YEARS TIME WE CAN BUILD ONE, YOU KNOW, KIND OF THING.
SO THE, THE CAPACITY IS THERE.
AND SO, UH, TO MAKE THE PROJECTS HAPPEN NOW WITHIN THE TURS, UH, WITHOUT BEING ON THE COUNTY'S BOOKS, WITHOUT BEING ON THE CITY'S BOOKS.
UH, AND SO I THINK, I PERSONALLY THINK IT'S A, IT'S A VERY GOOD AND APPROPRIATE USE OF MONIES TO MAKE MAJOR INTERSECTION IMPROVEMENTS THAT WILL BENEFIT NOT JUST THE PEOPLE WHO ARE GOING INTO THE DISTRICT, BUT ALSO ALL THOSE WHO TRAVEL AND WALK BETWEEN, FROM NEIGHBORHOODS TO, TO THE DISTRICT.
SO IF WE DO THE RFQ, THAT'LL GIVE US A PRICE ON THOSE PROJECTS OR JUST ON THE ENGINEERING DEPARTMENT, RIGHT.
OR THE ENGINEERING COMPANY THAT WOULD BUILD IT.
WHICH ONE? IS IT JUST THE ENGINEERS OR FOR THE PROJECTS? NO, IT'S, IT'S NOT, IT'S NOT A, WELL, LEON, DO YOU WANT TO, COULD WE DO AN RFQ FOR THE PROJECTS? SEE HOW MUCH THEY COST? THEY, THEY USUALLY GIVE AN ENGINEERING ESTIMATE COST.
TYPICALLY WHEN YOU DO AN RFQ, THAT'S TO SELECT EITHER AN ENGINEER, AN ARCHITECT, OR A SURVEYOR.
THOSE ARE REALLY THE FIRMS THAT YOU CANNOT ASK THEM FOR A PRICE.
WHAT YOU DO IS YOU GO THROUGH THE PROCESS TO SUBMIT THAT RFQ.
THEY GIVE YOU THEIR SUBMITTALS.
FOR EXAMPLE, WE HAVE 28 SUBMITTALS IN OUR OFFICE RIGHT NOW THAT WE HAVE TO REVIEW, UH, BRING BACK TO COUNSEL.
WE'RE SELECTING OUR GENERAL, UH, CIVIL ROTATION LIST.
WE'RE GONNA REVIEW THEIR PROPOSALS AND WE'RE GONNA SELECT THE BEST ONE THAT MEETS THE, UH, THE, UH, RFQ THAT WE SENT OUT.
YOU COULD DO THAT WITH THIS PARTICULAR ITEM, BUT YOU COULD FOCUS MAINLY ON THE ROUNDABOUTS AND THE INFRASTRUCTURE THAT YOU WANNA IMPROVE.
SO YOU CAN DO A SEPARATE RFQ FOR THAT.
YOU DON'T NECESSARILY HAVE TO USE OUR GENERAL CIVIL, AND WE'VE DONE THAT BEFORE WHERE WE JUST WANNA LOOK AT A SPECIFIC PROJECT AND WE WANT TO SELECT A FIRM THAT WE KNOW IS REALLY COMPETENT IN THAT AREA.
SO ONCE WE GET THAT, UH, RFQ OUT FOR ADVERTISEMENT AND THEN WE GET, UH, THE SUBMITTALS IN, THEN WE REVIEW THOSE INTERNALLY WITH THE STAFF AND, UH, WE COME UP A SCORE
[00:35:01]
AND THEN WE USUALLY GO WITH THE HIGHEST, UH, FIRM THAT'S, UH, ON THAT SCORE.AND WE MAY BRING THAT RECOMMENDATION BACK TO COUNCIL FOR APPROVAL.
AND THEN WE NEGOTIATE A CONTRACT AT THAT PRICE THAT'S, UH, WELL WE, WE SIGNED THE CONTRACT WITH THEM AND THEN WE TELL 'EM, OKAY, HERE'S OUR PROJECT.
THIS IS WHAT WE WANT YOU TO DO.
THIS IS WHAT WE WANT YOU TO LOOK AT DESIGNING.
AND WITH THE FIRST THING I USUALLY ASK THEM FOR IS A PRELIMINARY ENGINEERING REPORT.
UH, TAKE IT UP TO ABOUT WHAT WE CALL 30% MORE OR LESS.
AND I SAY, I NEED TO KNOW, UH, MAKE SURE THAT YOU UNDERSTAND THE SCOPE OF WORK, THEN TELL ME WHAT YOU THINK THE COSTS ARE GONNA BE.
SO WE'LL GET A LITTLE BIT MORE DETAILED COST ESTIMATE, UH, FROM THOSE FIRMS. USUALLY, DEPENDING ON THE SCOPE OF WORK ON THAT PRELIMINARY, SOMETHING LIKE THIS MAY COST TWO, THREE, 400,000, I DON'T KNOW, WITHOUT, UH, ACT ACTUALLY VISITING WITH A FIRM.
SO THAT WOULD BE THE FIRST STEP IN THIS PROCESS IS TO GET THAT, UH, PRELIMINARY ENGINE REPORT FROM A FIRM THAT WE'VE SAID IS THE BEST QUALIFIED FOR THIS PROJECT.
UH, CAN I ASK WHY WE WOULDN'T DO THE ENGINEERING OURSELVES PAY FOR THAT OUT OF THE TURS FUND AND THEN TAKE THOSE ENGINEERING PLANS AND THEN PUT THOSE OUT FOR AN RFP? BECAUSE RIGHT NOW WHAT WE'RE DOING IS WE'RE SAYING WHO'S THE MOST QUALIFIED, BUT THAT DOESN'T MEAN IT'S GONNA BE THE BEST.
I MEAN, I'M NOT TRYING TO GET A DISCOUNT PRICE, BUT WHAT I'M SAYING IS WE'RE JUST GONNA GO WITH THE ONE, WE DON'T KNOW WHERE THEY SIT AS FAR AS THE PRICES ARE.
WE JUST KNOW THE QUALIFICATIONS.
BUT IF WE SET OUT AN RFP WITH THE ENGINEERING PLANS, THEN WE CAN GET A PRICE AND THEN I DON'T, MAYBE WE CAN FIGURE OUT QUALITY AS WELL, EVEN THOUGH THIS ONE IS JUST FOR THE PRICE.
SO I MEAN, THE RFQ IS TO SELECT YOUR ENGINEER THE EVENTUALLY RIGHT.
BUT WE DON'T KNOW HOW MUCH THEY'RE GONNA CHART.
LIKE WE'RE SELECTING THE BEST OF THE BEST.
BUT THAT COULD COST THE CITY A LOT MORE.
THERE'S NO COST TO GO THROUGH THAT PROCESS.
BUT, BUT SINCE THEY DON'T HAVE OUR ENGINEERING PLANS, WE DON'T KNOW HOW MUCH THEY'RE GONNA CHARGE US FOR THE, FOR THE ENGINEERING OF THESE PROJECTS.
THEY WILL COME UP WITH AN ESTIMATE FOR THE COST OF CONSTRUCTION.
SO MY QUESTION WOULD BE, WHY WOULDN'T WE DO THE ENGINEERING PLANS, WHICH YOU SAID WILL COST PROBABLY A COUPLE HUNDRED THOUSAND AND THEN PUT THOSE PLANS OUT FOR AN R F P.
THAT'S THE, THAT'S WHAT WE TYPICALLY DO.
YOU GO OUT FOR CONSTRUCTION MM-HMM.
BUT REMEMBER ON THE P E R I LIKE TO MAKE SURE THAT THEY'RE GIVING US EXACTLY WHAT WE ASKED FOR.
CUZ YOU CAN GET, YOU CAN GET AN RF, YOU CAN GET US, UH, UH, SUBMITTED FROM A CON FROM A PROPOSAL FROM A ENGINEER TO DO THE WHOLE PROJECT FROM BEGINNING TO END.
SO ARE THESE GONNA BE, THE PRICES GONNA BE MORE PROJECT OVERSIGHT PEOPLE? IS THAT WHAT WE'RE DOING? LIKE THEY'RE NOT GONNA BE THE ACTUAL ENGINEER? I'M CONFUSED.
THEY WILL DESIGN IT FROM THE BEGINNING TO THE END.
THEY WILL ALSO PROVIDE A CONTRACT ADMINISTRATION SO WE COULD GET A PROPOSAL FOR THEM TO DO THE WHOLE THING.
NOW YOU'RE LOOKING AT QUITE A BIT MORE MONEY.
ID LIKE TO DO THE P EER BECAUSE I WANNA MAKE SURE IT DOES SLOW THE PROCESS DOWN.
I KNOW THAT, BUT AT LEAST I KNOW, YES, THIS IS EXACTLY WHAT WE WANT.
LET'S MOVE IT A DIFFERENT DIRECTION.
AND SO THEY'LL MODIFY THE, UH, PLANTS AS THEY MOVE FORWARD TO THE COMPLETION OF THEIR DESIGN.
AT THAT POINT, WE GO OUT FOR BIDS WITH THE CONTRACTOR.
BUT IN THE MEANTIME, WE GET BETTER AND BETTER COST ESTIMATES AS WE GO THROUGH THE PROCESS.
IF WE GO 30, 60, 90, LIKE IT'S TRADITIONALLY DONE AT 60, WE GET A NEW COST ESTIMATE AND 90 WE GET A NEW COST ESTIMATE.
AND, AND AT A HUNDRED PERCENT WE GET AS GOOD AT AN ESTIMATE AS WE CAN GET AT THAT POINT IN TIME.
I'D LIKE TO, UH, MAKE A MOTION, UM, TO ISSUE AN RFQ FOR INTERSECTION IMPROVEMENTS AT KOHLERS AND SANDERS AND BANNER AND CROMWELL, AS WELL AS THE PEDESTRIAN LIGHTING, PEDESTRIAN CROSSINGS AND LIGHTING IMPROVEMENTS.
GOT A MOTION? UH, IS THERE A SECOND? SECOND.
IS THERE ANY FURTHER DISCUSSION? I'D, I'D LIKE TO SEE IF I COULD GET BABY PERVEZ TO JUST COME UP TO SEE IF, HOW HE FEELS ABOUT THE CONCEPT OF WHAT WE'RE TRYING TO DO.
JUST TO GET YOUR OPINION, SIR, I'D LIKE TO GET EVERYBODY'S, UH, THE GODFATHER'S OPINION
I'M PERVEZ MOHI FOR THE RECORD CITY'S DIRECTOR OF FINANCE.
THE, THE PROJECTIONS YOU HAVE BEFORE YOU IS THE FIRST TIME I'M SEEING AS YOU ARE.
I HAVE SEEN PROJECTIONS BEFORE FROM SAMCO AND THEY DO A GOOD JOB AND, BUT IT ALL DEPENDS ON THE ASSUMPTIONS IN THE MODEL.
SO I REALLY CAN'T TELL YOU WITHOUT DIGGING DEEP INTO IT.
BUT JUST AT THE SURFACE LEVEL BASED ON THEIR ASSUMPTION IS FAIRLY REASONABLE.
AND IF THEY'RE SAYING WE CAN MEET IT BASED ON THOSE ASSUMPTIONS, THEN ALEX THANK YOU.
[00:40:04]
ANY OTHER DISCUSSION OR QUESTIONS? OKAY.[5. Discussion and possible action regarding the construction of the parking lot for La Verde.]
OKAY, WE'LL GO AHEAD AND UH, OPEN NUMBER FIVE, DISCUSSION AND POSSIBLE ACTION REGARDING THE CONSTRUCTION OF THE PARKING LOT FOR LOVE LAE OR MEMBERS? JERRY HENDRICKS, CENTER CITY MANAGER.FOR THE RECORD, YOU KNOW THERE IS A, A LOT JUST SOUTH OF THE PARK THAT'S ALMOST FINISHED.
WE HOPE THAT AT SOME POINT WILL BE DEVELOPED AS A RETAIL CENTER, BUT FOR THE FORESEEABLE FUTURE, IT'S AVAILABLE TO BUILD A PARKING LOT.
WE FEEL THAT PARKING LOT'S GOING TO BE NEEDED AS WE START PROGRAMMING LAVERDE PARK.
THERE'S CURRENTLY NO PLACE FOR VISITORS TO PARK.
SO WE'VE LOOKED AT THAT LOT BEFORE.
WE, WE'VE TALKED ABOUT IT OVER THE PAST COUPLE DAYS.
WE THINK WE CAN DO THAT THAT LOT INTERNALLY WITH OUR OWN STAFF FOR 300 TO $500,000.
SO WE'RE PREPARED TO, UH, EXPLORE THAT FURTHER IF THAT'S THE MISSION.
WE THINK THAT'S ABOUT 300 PARKING SPACES.
IS THIS GONNA BE JUST A ONE LEVEL OR ARE YOU GONNA DO SINCE IT'S, SINCE IT'S BASICALLY TEMPORARY AND IT MAY BE TEMPORARY FOR FIVE TO 10 YEARS, UM, BUT IT'LL BE A BASIC CUT AND DRY PARKING LOT.
BUT IT WILL SERVE THE, THE DISTRICT FOR THE TIME BEING.
IS THIS GONNA ALSO SERVICE THE RETAIL IN THAT AREA? YES.
TO ME IT MAKES MORE SENSE IF YOU'RE GONNA DO SOMETHING, JUST I THINK THAT'S WHERE THE GARAGE NEEDS TO BE AND IF THAT'S GONNA ALSO SUPPORT THE RETAIL, IT MAKES MORE SENSE TO ME THAN DO A TEMPORARY PARKING LOT.
IT'S GONNA COST HALF A MILLION DOLLARS.
WE CAN, WE CAN COME BACK WITH A TIGHTER PROPOSAL ONCE WE REALLY GET INTO IT, BUT THAT'S WHERE WE ARE RIGHT NOW.
PARKING GARAGE IS YEARS AWAY AND MILLIONS OF DOLLARS.
SO EXCEPT WHATEVER THE BOARD DESIRED US TO DO BY CHANCE.
JERRY, WOULD YOU HAPPEN TO HAVE A MAP OF THE ACTUAL SECTION OR PART OF WHERE THIS PROPOSED PARKING LOT WOULD BE? IS IT ON THE SIDE OF ARC OR IS IT GONNA BE ON THE OPPOSITE SIDE OF THE PACK WHERE THE HEROES MEMORIAL.
SO IF YOU'RE STANDING ON LIBER DAY PARK LOOKING SOUTH TOWARDS COLORS, THAT'S WHERE THE PARKING LOT WILL BE.
HOW MANY ACRES IS THAT, THAT LEON, DO YOU KNOW? I WAS GONNA TRY TO SEND THIS TO YOU AMBER.
SEE IF YOU CAN FORWARD IT TO YEAH.
UM, I DO FEEL LIKE THERE IS AN IMMEDIATE NEED FOR THE PARKING LOT, BUT I ALSO AGREE WITH YOU, IT WOULD BE A GREAT PLACE FOR A PARKING GARAGE.
I FEEL LIKE EVERYBODY CAN USE IT THEN.
I MEAN EVERYONE CAN USE IT IN THE OTHER WAY AND ITEM NUMBER SIX.
BUT I JUST FEEL LIKE IF YOU'RE GONNA USE IT FOR RETAIL AND LA VERDE, IT'S MORE JUSTIFIED JUST TO SPEND THE MONEY IN THAT AREA.
AND EVEN IF YOU WANNA START WITH THAT, I THINK THE PARKING AS WE SEE DOWNTOWN AND ALL OF KYLE IS, IS KIND OF A, A MESS.
SO IF WE COULD JUST START THAT AREA OFF ON THE RIGHT FOOT, I THINK THAT WOULD BE THE, THE BEST INVESTMENT WE COULD DO.
I THINK THAT IF WE, I THINK BY PUTTING IN A TEMPORARY LOT, WE CAN ACTUALLY PROBABLY IGNITE SOME MORE INTEREST IN THAT AREA FROM RETAIL, UH, FROM A RETAIL PERSPECTIVE AS OPPOSED TO WAITING AND GOING THROUGH THE PROCESS.
I HAVE NO IDEA HOW LONG IT TAKES TO BUILD A PARKING GARAGE, BUT I WOULD IMAGINE IT'S PROBABLY, COULD WE PRETTY LENGTHY ENGINEER IT? LIKE THAT'S GONNA BE THE PARKING AND THEN THAT WAY IT'S THE BEGINNING OF IT, THE GARAGE PARKING.
DOES THAT MAKE SENSE? LIKE, IF I WAS GONNA BUILD A GARAGE PARKING LOT, WOULD I WANT THE, I MEAN IT WOULD BE A LOT OF SUBSURFACE WORK.
I WOULD HAVE TO GO INTO THE, IT WOULD BE A MUCH MORE INVOLVED ENGINEERING PROJECT.
HEY JERRY, ARE WE THIS PARKING LOT BY THE PARK? THIS IS SOMETHING TEMP.
WE'RE TALKING ABOUT A TEMPORARY SURFACE PARKING OR A COVERED PARKING GARAGE.
IS THAT CORRECT? THOSE ARE THE TWO OPTIONS WE'RE DISCUSSING RIGHT NOW.
IT'D BE AN ASPHALT PARKING LOT.
THAT WOULD BE OPTION NUMBER ONE.
UH, SO I'D LIKE TO MAKE A MOTION FOR STAFF TO PUT TOGETHER A COST ANALYSIS ON A TEMPORARY SURFACE LEVEL PARKING LOT.
[00:45:04]
I'M SORRY, IT'S ON, ON EVERETT STREET.IS THERE ANY ADDITIONAL DISCUSSION OR QUESTIONS I THINK THAT WE SHOULD MOVE FORWARD WITH GOING AHEAD AND GREEN LIGHTING THIS? WE'VE ALREADY STARTED ON IT, WE'VE ALREADY CLEARED IT.
IT'S ALREADY BEEN IN THE WORKS.
SO HOW'S THAT GOING TO WILL THAT CONFLICT WITH THE, UH, STRUCTURED PARKING GARAGE THAT WE'VE CONTEMPLATED? UM, THE STRUCTURED PARKING GARAGE, THERE'S, THERE'S LIKE TWO OR THREE DIFFERENT PLACES WHERE IT COULD GO, BUT WE'RE ONLY HAVE THE ABILITY TO FUND ONE.
SO INITIALLY ARE WE NOW LOOKING THIS WOULD BE THE LAST, THE THIRD OF THAT, YOU KNOW, IT WOULDN'T BE THE, THE WHERE YOU'D WANT TO START WITH YOUR FIRST STRUCTURED PARKING.
SO WE'RE LOOKING AT THREE IN TOTAL.
WHAT'S THAT? OVER THE COURSE OF TIME? WE'RE LOOKING AT THREE IN TOTAL.
WELL, WE'RE GONNA HAVE TO FIGURE THAT OUT.
I MEAN, THERE'S NO, THERE'S NO MAGIC MARKER.
BUT THE, THIS WOULD ALLOW FOR, IF WE WENT FORWARD WITH THIS, THIS WOULD ALLOW FOR, UH, PARKING AT LAVERDE WHEN IT OPENS, THERE'S NOT GONNA BE THE ABILITY TO PARK THERE, UH, VERY MUCH.
THERE'S JUST THE, THE PARALLEL PARKING ALONG THAT STREET BECAUSE THE REST OF THE INFRASTRUCTURE IS NOT BUILT OUT TO IT YET.
AND IT WOULD ALSO ALLOW FOR PARKING TO THE RESTAURANT AND RETAIL SITES THAT ARE BEING DEVELOPED RIGHT NOW.
SO THE, THE, THE, THE, THE DEVELOPERS WILL TELL YOU THAT YOU, IF YOU'RE TRYING TO PARTNER WITH A PRIVATE ENTITY TO CONSTRUCT A, UH, GARAGE PLUS RETAIL, THAT'S GONNA HAPPEN AT THE CENTER OF THE TWO MAIN ROADS THAT WE'RE CONSTRUCTING, NOT HERE BEHIND THE PACK.
SO THE, THE THE, THERE'S NOT GONNA BE A SITUATION WHERE IN THESE NEXT SERIES OF BONDS THAT WE'RE CONSIDERING THAT IT'S GOING TO, IT'S GONNA GO TO THIS SITE.
SO THAT'S WHY JERRY'S TALKING ABOUT PUTTING SOMETHING ON THE GROUND NOW FOR THE NEXT FIVE OR SO YEARS UNTIL WE GET TO A PLACE WHERE WE COULD BE BUILDING MULTIPLE OTHER GARAGES OUTSIDE OF THAT FIRST ONE.
SO WHAT WOULD WE NEED IN ORDER TO COMPLETE THIS AC ACTION TO, TO MOVE THIS FORWARD CHERRY? HOW FAR ALONG ARE WE IN THE PROCESS? OH, WE'RE JUST BARELY GETTING STARTED.
BUT WITH YOUR ACTION, WE WOULD MOVE FORWARD IN A MORE FORMAL FASHION.
WE WOULD BRING BACK TO THE BOARD IF THEY DESIRE THE ACTUAL PLAN AND MORE APPROXIMATE COST INCLUDED IN HIS MOTION YES.
SO, BUT WE WOULD JUST WANT TO NEED TO, WANT TO HAVE IT BY THE NEXT MEETING IF WE COULD WE'LL HAVE IT.
DO YOU WANT ME TO AMEND MY MOTION? NO, I THINK, I THINK WE'RE GOOD.
COULD IT ALSO MAYBE LOOK AT THE CONCEPT IN DESIGN OF IT AS WELL? WE'LL BRING ALL THAT BACK.
WELL I THINK I JUST WANNA MAKE SURE THAT, YOU KNOW, IF WE'RE JUST, WE'RE GONNA BRING THIS FORWARD.
IT'S NOT LIKE, OKAY, HERE'S THE PLAN HOW MUCH IT'S GONNA COST AND WE'RE GONNA BE THROWING SOME GRAVEL AND ASPHALT AND THIS IS WHAT'S GONNA LOOK LIKE WITH JUST A COUPLE OF POLES OF LIGHTS.
THAT'S EXACTLY WHAT I'M, YOU KNOW WHAT I'M SAYING? YES.
SO IT'S LIKE IF WE'RE GOING TO MAKE THIS INVESTMENT, CAUSE AGAIN, WE'VE TALKED ABOUT IT EVEN WE TALKED ABOUT IT WHEN WE WERE BRINGING HEROES MEMORIAL, UH, TWO YEARS AGO.
YOU KNOW, HOW IMPORTANT THE VISUAL IS ON THIS AND THE NEED FOR IT.
SO LIKE MS. BRAD WAS SAYING, THE ONLY THING I WOULD ASK IS FOR STAFF TO BRING BACK SOME OPTIONS FOR THE A LOWER END AND THEN ASSUMING MAYBE THAT IT COULD BE THERE FOR 10 YEARS, LIKE WITH STANDUP CURVES AND YOU KNOW, MAYBE, YOU KNOW, LANDSCAPING.
WE'RE, WE'RE ASSUMING THAT THERE'S NO CURB AND GUTTER WITH THIS PROJECT AND WE'RE NOT ASSUMING AT THIS POINT NO LIGHTING.
BUT WE CAN BRING BACK THOSE OPTIONS YES.
CUZ I THINK WE'RE GONNA HAVE THE ABILITY TO CASH FUND ANY OF THOSE OPTIONS.
SO IT WOULD BE GOOD FOR US TO AT LEAST HAVE A LOOK AT THIS IS WHAT 300,000 GETS, THIS IS WHAT, 500,000 IT WILL BRING THIS WHAT A MILLION GETS.
WE'LL ALSO BRING BACK OUR ABILITY TO HOW MUCH WE'LL BE ABLE TO CASH FUND.
WILL YOU BRING BACK A MAP TOO? SURE.
WILL, CAN I SEE WHERE IT'S GONNA BE? AND JUST FOR CLARIFICATION, THIS WOULD BE DONE BY THE CITY CREW, CORRECT.
DID YOU GET YOUR QUESTION ANSWERED? YEAH, I DIDN'T, DID WE KNOW WHAT THE ACREAGE IS? THE YES.
UH, I COULDN'T APPARENTLY SEND MY, SHARE MY, THE MAP THAT I HAVE, BUT MM-HMM.
THE NORTH PARCEL, I'M GONNA, I'M GONNA CALL IT THE NORTHERN TRACT IS ABOUT 1.6 ACRES.
THERE'S ALSO USUALLY WE CALL IT A SPITE STRIP.
IT'S REALLY JUST A STRIP OF LAND ABOUT 75 FEET BY 180 FEET WIDE.
THAT'S OWNED BY THE PLUM CREEK GROUP I BELIEVE.
UH, THE SOUTHERN TRACT IS OWNED BY THE SCHOOL DISTRICT.
THAT'S ABOUT ONE POINT, UH, FIVE 1.6 ACRES ALSO.
SO THE, THE DESIGN DILEMMA WILL BE THAT ON THE NORTH HALF, WE HAVE DRAINAGE KIND OF FIGURED OUT ON THAT ALREADY.
THERE'S A PIPING THAT'S GONNA BE THERE AS
[00:50:01]
PART OF THAT, UH, ROAD PROJECT THAT'S BEING DESIGNED RIGHT NOW.SO I'M NOT TOO CONCERNED ABOUT THE DRAINAGE ON THAT ONE.
THE SOUTH SIDE HAS A, IF WE ADD ADDITIONAL IMPERVIOUS COVER THAT GOES TO THE PERFORMER ARTS CENTER POND, THAT POND WAS NEVER DESIGNED FOR A HUNDRED YEAR, UH, VENT, MUCH LESS THE ATLAS 14.
SO I'M CONCERNED ABOUT TAKING EXTRA DRAINAGE TO THAT.
SO I WOULD RECOMMEND THAT WE JUST DO THE 1.6 ACRES ON THE NORTH SIDE THAT CAN GET YOU ROUGHLY ABOUT 200 PARKING SPACES.
THEN THAT WOULD BE THE DILEMMA THEN BECAUSE, WELL OF COURSE IT'S GONNA BE USED FOR US, BUT I'M ALSO LOOKING AT PARTNERING WITH THE SCHOOL DISTRICT.
WELL, AND YOU SEE WHERE IT'S BE LIKE, OKAY, AND I WAS THERE LAST NIGHT AND, AND, AND YOU HAVE TO WAIT FOR OTHER SCHOOLS TO PERFORM THEIR STUDENTS AND LEAVE BEFORE YOU CAN COME IN AND PARK ANYWHERE.
BUT THEN OF COURSE YOU'RE ALSO LOOKING AT A RETAIL TO WHERE ARE WE GONNA BUILD JUST HALF OF IT.
AND THEN THE OPEN, THEN THERE'S GONNA BE ANOTHER OPEN, YOU KNOW, ANOTHER HALF ACRE OF LAND THAT'S JUST GONNA SIT THERE AND UNTIL IT'S, SINCE IT'S OWNED BY THE SCHOOL DISTRICT, YOU KNOW, WOULD THEY WANT TO CONTRIBUTE TO ADDING ON TO THAT? OR ALSO YOU, WE HAVE THE PLUM CREEK REFUGE, UH, INDIVIDUALS THAT OWN THAT.
UH, WHAT SAY THEY MIGHT HAVE ON, ON US BUILDING SOMETHING LIKE THIS AS WELL.
SO I, YEAH, I THINK WE SHOULD LOOK AT PARTNERING WITH THE SCHOOL DISTRICT IF THEY HAVE ADDITIONAL SITES.
IT'S JUST A SHARED USE AGREEMENT.
SO IS THAT WHAT YOU'RE TALKING ABOUT? THERE'S THE SPITE STRIP.
DID I MENTION NO, YOU THE, THE SOUTHERN HALF IS IN SCHOOL DISTRICT THAT'S APPARENTLY OWNED BY THE SCHOOL DISTRICT.
SO, BUT WHAT WE DID WITH THE REGULAR, UH, HAYES PARKING IS THAT NOW IN ORDER FOR FOLKS TO GO TO OUR PARK, THEY'RE PARKING ON THE HAYES SCHOOL DISTRICT'S PARKING SITE.
SO WE DID A JOINT USE AGREEMENT WITH THEM.
WHEREBY THE, THE, THE PARKING FOR HEROES MEMORIAL PARK IS THE PACKS PARKING AND IT WORKED OUT.
AND THAT'S PART OF THE CONTRACT.
BUT IT'S A, IT'S A GOOD, YOU KNOW, COMBINED USE.
SO IF THEY OWN THAT SITE, THEIR CONTRIBUTION COULD BE THE LAND THEN WE, THE TOURISTS COULD CONTRIBUTE, WHICH IS THE CITY AND THE COUNTY TO CONSTRUCT THE PARKING.
AND THEN THE TOURISTS COULD ALSO HAVE A, UH, EXTEND OUR CONTRACTS TO MAINTAIN THAT, UH, AS WELL.
SO I, I'M, I'M VERY CONFIDENT THAT THEY WOULD WANT TO DO THAT CAUSE IT'S IN THEIR BEST INTEREST.
WE'LL, WE'LL LOOK AT ALL THREE OF THOSE PIECES AND THEN WE WOULD ADD EVEN MORE PARKING SO THAT WE COULD HAVE ENOUGH.
CUZ IF WE HAVE AN EVENT AT LAVERDE THAT HAS A THOUSAND PEOPLE THERE, YOU KNOW, WE'RE GONNA NEED ALL THE PARKING TO, YOU KNOW, AND SO IT REQUIRES, UH, COOPERATION WITH THE SCHOOL DISTRICT.
WE'LL, WE'LL BRING BACK A PLAN FOR EACH OF THOSE THREE LOTS AND THEN ALL OF THEM COMBINED, WE'LL HAVE TO ADDRESS THE, UH, THE DRAINAGE.
SO HOW MUCH TIME DO YOU THINK WE'RE GONNA NEED FOR THAT? LEON? WE'RE GONNA HAVE TO TALK TO, UH, MARA GPP WITH PLUM CREEK, UH, CUZ THEY HAVE THAT STRIP IN THE MIDDLE.
WE NEED TO SEE WHAT THEY'RE, HOW THEY'RE GONNA COMMIT TO HELPING US WITH THAT.
UH, I THINK WE NEED AT LEAST TWO, THREE WEEKS TO GET THIS TOGETHER.
THERE'S A LOT OF THINGS THAT WE'RE GONNA HAVE TO LOOK AT.
SO IF YOU CAN GIVE US AT LEAST A MONTH.
AS LONG AS WE HAVE ALL THE PARTIES INVOLVED IN THE CONVERSATIONS.
THE SCHOOL DISTRICT, ALSO THE PLUM CREEK FOLKS, UM, SO THAT WAY NOBODY'S ALSO CAUGHT OFF GUARD, BUT ALSO SEE THE OVERALL GOAL OF WHY WE'RE LOOKING AT THIS PARKING AND THEN SEEING TO WHERE WE CAN COLLABORATE IF WE COULD.
AND THEN THAT WAY WE, IT BENEFITS EVERY, EVERYBODY ON, ON IN THE END AND THE COUNTY.
THIS PROJECT WILL BENEFIT ALL THE, ALL THREE OF THOSE PARTIES.
UH, ANY OTHER DISCUSSION? OKAY.
[4. Adopt a Board Seal.]
OKAY.UH, WE'LL GO ON TO ITEM NUMBER.
DOES IT, UH, DO YOU HAVE A PREFERENCE, MAYOR? THREE OR FOUR? FOUR.
UM, THE BOARD HAS, OH, DO I HAVE A SAMPLE? I THOUGHT THAT THIS WAS THE SEAL, THE BACK OF MIC.
SO THE BOARD'S NEVER ADOPTED A BOARD SEAL.
UM, AND FOR ALL OF OUR BOND DOCUMENTS, WE LIKE TO HAVE A BOARD SEAL.
SO IF YOU GUYS JUST WANNA TAKE A LOOK IF ANYONE HAS ANY DIFFERING SUGGESTIONS, IT'S VERY BASIC.
UM, BUT HAS A SEAL AND HAS THE NAME OF THE CHAIRS IN THE SITTING PILE.
AND SO THAT'S WHAT WE WOULD PROPOSE.
CAN WE PUT KYLE IN THE MIDDLE OF THE STAR
THERE'S A MOTION AND A SECOND.
[00:55:01]
ANY DISCUSSION? IF NOT ALL IN FAVOR SAY AYE.AND WE'LL ORDER IT AND THEN SEND IT TO JENNIFER WHEN IT COMES IN.
[3. Discussion regarding scheduling the next meeting.]
SO WE'LL GO BACK TO ITEM NUMBER THREE, DISCUSSION REGARDING SCHEDULING THE NEXT MEETING.DO WE HAVE ANY DATES AVAILABLE OR SUGGESTIONS?
IT'S CLOSE TO THE WORKSHOP, RIGHT? YEAH.
CAN WE DO THE 15TH? I CAN'T DO THE 15TH.
WE HAVE THE EIGHTH AND THEN THE 29TH.
I CAN DO THE 29TH OF THE 22ND.
THAT GIVES, UH, LEON THAT MONTH.
WOULD THAT HELP, SIR? YES, SIR.
UM, IS THERE ANY NEED TO GO INTO EXECUTIVE SESSION? NO.
AND I GUESS OUR NEXT ITEM IS A MOTION TO ADJOURN.
I MEAN, MAYBE