Apr 13, 2023 TIRZ #2 Board

THE NEXT ORDER IS TO APPROVE THE MINUTES.

I THINK WE HAVE TWO SETS OF MINUTES.

MM-HMM.

, UH, WE'D LIKE TO TAKE BOTH OF THOSE TOGETHER.

IS THAT APPROPRIATE? YES.

I'D LIKE TO MAKE A MOTION TO APPROVE AGENDA OR THE, UH, APPROVAL MINUTES FOR ITEM ONE AND TWO.

THERE'S A MOTION.

IS THERE A SECOND? SECOND.

THERE'S A MOTION AND A SECOND.

ARE THERE ANY QUESTIONS, CONCERNS, COMMENTS? IF NOT ALL IN FAVOR SAY AYE.

ANY OPPOSED? OKAY.

NEXT IS CITIZENS COMMENT.

PERIOD.

DID WE HAVE ANYONE SIGN UP FOR CITIZENS COMMENT? VE NO.

[3. Amend the Joint Use Agreement for HCISD Parking Facilities.]

IF NOT, WE'LL GO ON TO ITEM NUMBER FOUR.

CONSIDER IMPOSSIBLE ACTION TO AMEND THE JOINT USE AGREEMENT.

UH, FOR, HAS C I S D PARKING FACILITIES? WE'LL TAKE THAT.

IS THAT PAGE, I THINK I CAN ADDRESS THAT.

THE, THE, THE DISTRICT, THE H C I S D AND THE, UM, THE CITY AND THE ZONE ENTERED TWO AGREEMENT IN THE 2020 ERA THAT ADDRESSED, UM, SOME AUTHORIZED IMPROVEMENTS ON THE H C I S D PROPERTY, UH, NEAR THE PACK, UH, FOR THE PURPOSE OF HAVING THE DISTRICT AND THE, THE JURORS NUMBER TWO, PARTICIPATE IN IMPROVEMENTS TO PARKING FACILITIES THERE.

AND AS PART OF THAT AGREEMENT, THERE WAS AN AGREEMENT BY THE, THE TURS TO MAINTAIN LANDSCAPING AS IT GETS CONSTRUCTED THERE.

THIS AMENDMENT, UH, IS, UH, AMENDS THAT AGREEMENT TO ADD SOME ADDITIONAL AREAS THAT THE ZONE WOULD BE RESPONSIBLE FOR LANDSCAPING IN RELATION TO THIS PARKING FACILITIES.

SO THIS ITEM JUST MAKES IT TO WHERE THE CITY IS GONNA BE, OR NOT THE CITY, BUT THE JURORS IS GONNA BE RESPONSIBLE.

SO WHO'S GONNA BE RESPONSIBLE FOR THE LANDSCAPING? IF THE JURORS IS RESPONSIBLE? THE LANDSCAPING WOULD FUND THE JURORS.

I MEAN, WOULD, WOULD FUND THE LANDSCAPING AND THEN, UH, THE PARTIES WOULD HAVE TO DETERMINE WHO IS ACTUALLY COM.

UM, THAT PART HAS NOT BEEN ADDRESSED, THAT I'M AWARE OF AS FAR AS WHO'S CONDUCTING THE LANDSCAPING.

BUT THAT WOULD BE, UH, ADDRESSED AT OVER TIME.

PERFECT.

I HAVE A QUESTION.

UH, JUST SINCE THIS MO THE SCHOOL DISTRICT, UH, IS THIS, UH, TURNERS, UH, SET UP WHERE, UM, ANY RETAIL OR ASSESSED PROPERTY TAX, UH, REVENUE, UH, WILL NOT, UM, GET CONTRIBUTED INTO THE SCHOOL? LIKE WILL THE SCHOOL STILL GET ITS SHARE OF THE PROPERTY ASSESSED VALUES? YES.

THE SCHOOL DOES NOT PAY ANY OF THEIR TAXES INTO THE TURS.

SO, SO THE MONEY AND THE TURS, UM, THE SCHOOL DISTRICT WILL STILL GET THE, THE, THE SCHOOL DISTRICT THE CORRECT AMOUNT? YES.

THEY'RE NOT GONNA BE SHORTED, RIGHT? CORRECT.

AND THERE'S LEGAL LIMITATIONS ON THEM DOING SO NOW, BUT THEY DON'T PARTICIPATE IN PAYING ANY OF THEIR PROPERTY TAXES INTO THE CHURCH.

THEY GET THEIR FULL PROPERTY TAXES PAID TO THEM.

PURPOSES OF TERMING STATE FUNDING.

THANK YOU.

AND IF I, IF I MAY, THE, SO THE TRADE THAT WE MADE BACK IN 2020 WAS FOR, SO WE'RE BUILDING HEROES MEMORIAL PARK, WHICH NEEDS PARKING MM-HMM.

, BUT ALL THAT PARKING IS FOR THE PERFORMING ARTS CENTER, AND THAT'S OWNED BY THE SCHOOL DISTRICT.

UH, AND SO RATHER THAN THE CITY HAVING TO BUY LAND AND BUILD PARKING FOR EUROS MEMORIAL, WE ENTERED INTO THE INITIAL JOINT USE AGREEMENT.

WE SAID, HOW ABOUT, AND THEY WERE STRUGGLING TO MAINTAIN IT AT THAT TIME.

IF YOU WOULD LOOK BACK TO THE WAY IT WAS, RIGHT AT THE BEGINNING OF THE PANDEMIC, IT JUST, THEY COULDN'T KEEP UP WITH THEIR, THEIR LANDSCAPING.

SO WE SAID, HEY, HOW ABOUT WE HAVE THE TURS PAY FOR THE LANDSCAPING AND EXCHANGE.

SO THAT'S SORT OF THE, THINK OF IT LIKE THE CITY AND THE COUNTY ARE PAYING FOR THE LANDSCAPING AND MAINTENANCE OF THE PARK OR THE PARKING AREA.

AND THEN THEY WILL ALLOW FOR US TO USE THE PARKING FOR HEROES MEMORIAL TO MAKE IT PUBLIC, ESSENTIALLY.

RIGHT.

SO IT GOES TO HEROES, MEMORIAL PARK, AND EVENTUALLY ADDITIONAL AREAS AROUND.

SO THAT'S WHAT THIS IS.

IT'S JUST US KIND OF, EVERYBODY'S GIVING A LITTLE SOMETHING AND WHAT THEY'RE GIVING US IS PARKING.

UH, I THINK, UM, I, WHEN I WAS READING UP ON SOME OF THE TARS, THEY'RE SCHOOL DISTRICTS ARE NO LONGER ALLOWED RIGHT.

TO BE PART OF TURS.

SO IT'S, YEAH, I MEAN, IT, IT PRACTICALLY, PRACTICALLY MM-HMM.

, RIGHT.

SCHOOL DISTRICTS CAN CONTRIBUTE, BUT THEY'RE STILL, THE VALUES OF THE TAX MONIES THAT THEY COME IN IS STILL CALCULATED FOR

[00:05:01]

AND SO IT'S, IT'S A VERY HARSH FINANCIAL PENALTY FOR A SCHOOL DISTRICT TO PARTICIPATE IN INSURERS.

THEREFORE THEY DO NOT.

BUT THEY'RE LEGALLY ALLOWED TO, THEY'RE LEGALLY ALLOWED TO.

THEY JUST CHOOSE NOT TO BECAUSE IT DOESN'T MAKE FINANCIAL SENSE.

IT DOES NOT MAKES FINANCIAL SENSE FOR THEM AT ALL, BECAUSE TWICE AS MUCH.

THEY, YEAH, BECAUSE THE STATE WOULD LOOK AT THE MONEY AS MONEY COMING INTO THE DISTRICT, EVEN THOUGH THE DISTRICT IS PAYING THE MONEY OUT.

AND SO, ESPECIALLY IF THEY'RE A 49 DISTRICT.

RIGHT.

WHAT DOES THAT MEAN? SORRY.

UH, UH, PROPERTY WEALTHY WHERE THEY HAVE TO PAY IN TO THE RECAPTURE, UH, PROGRAM THAT THE STATE RUNS, THEY COULD POTENTIALLY HAVE TO PAY THE SAME MONEY TWICE, ONCE TO THE JURORS AND THEN ONCE TO THE STATE.

AND SO IT JUST DOES NOT MAKE SENSE.

MM-HMM.

FOR A SCHOOL DISTRICT TO PARTICIPATE UNDER THREE 11.

THAT'S WHY THE, UH, THAT'S WHY THE LEGISLATURE HAD INTRODUCED CHAPTER THREE 13 FOR THE SCHOOL DISTRICT, DISTRICT PROPERTY TAX ABATEMENT AGREEMENTS.

THOSE HAVE BEEN PHASED OUT.

THEY HAVE ADMITTED THAT TOO.

A DERIVATIVE OF THAT MAY COME BACK AFTER THIS LEGISLATIVE SESSION, BUT THAT'S KIND OF, SO THREE 11 AND THREE 13 NO LONGER, UH, ACCORDING TO THE SCHOOLS, THREE 11 IS NO LONGER EFFECTIVE.

AND, OR THREE 13 IS NO LONGER EFFECTIVE.

THAT PHASED OUT AT THE END OF LAST YEAR.

AGAIN, SCHOOL DISTRICT STILL COULD PARTICIPATE IN THREE 13, BUT IT'S JUST NOT FINANCIALLY FEASIBLE FOR THEM TO DO SO.

THANK YOU.

GOOD QUESTION.

IS THERE ANY OTHER QUESTIONS OR COMMENTS? THANK YOU'ALL SO MUCH FOR SHARING THAT INFORMATION.

UH, IF NOT, IS THERE A MOTION? I WOULD LIKE TO MAKE A MOTION TO APPROVE AGENDA ITEM NUMBER THREE.

SECOND.

MOTION AND A SECOND.

UH, ANY FURTHER DISCUSSION? IF NOT ALL IN FAVOR SAY AYE.

WERE PREVIOUSLY, UM, PREVIOUSLY ENVISIONED FOR THIS CHARGE.

ANY OPPOSED? MOVE

[4. Consideration and Approval of a Resolution of the Board of Directors of Tax Increment Reinvestment Zone Number Two, City of Kyle, Adopting and recommending to City Council approval of the amended and restated final project and financing plan, Approving the extension of the term of the zone, and recommending that City Council issue its “City of Kyle, Texas Tax Increment Revenue Bonds, Series 2023 (Tax Increment Reinvestment Zone Number Two, City of Kyle)”; and Providing an effective date.]

ON TO ITEM NUMBER FOUR.

CONSIDERATION AND APPROVAL OF A RESOLUTION OF THE BOARD OF DIRECTORS OF TAX INCREMENT REINVESTMENT.

ZONE NUMBER TWO, CITY OF OHIO, ADOPTING AND RECOMMENDING TO THE CITY COUNCIL APPROVAL OF THE AMENDED AND RESTATED FINAL PROJECT FINANCING PLAN, APPROVING THE EXTENSION OF THE TERM OF THIS, UH, ZONE AND RECOMMENDING THAT CITY COUNCIL ISSUE.

UH, IT'S CITY OF KYLE, TEXAS TAX INCREMENT, UH, REVENUE BOND SERIES 2023, UH, TAX INCREMENT REINVESTMENT ZONE NUMBER TWO, CITY OF KYLE, AND PROVIDING AN EFFECTIVE DATE.

SO STEPHANIE LI NOR BRUCE ALBRIGHT.

UM, THE RESOLUTION THAT THE BOARD'S GOING TO CONSIDER TONIGHT, UM, DOES A MULTITUDE OF THINGS.

PRIMARILY IT APPROVES, UH, THIS UPDATED, THIS UPDATED PROJECT AND FINANCE PLAN.

OH, AM I NOT? OKAY.

IS THAT BETTER? UH, IT APPROVES THE, UM, THE AMENDED AND RESTATED PROJECT AND FINANCE PLAN.

SO AS WE KIND OF DISCUSSED AT THE LAST BOARD MEETING, WE'VE TAKEN THE FEEDBACK THAT WAS PROVIDED BY THE BOARD AND INCORPORATED THAT, UM, INTO THIS PLAN.

YOU CAN SEE IF YOU WALK TO, OR IF YOU GO TO EXHIBIT C OF THE PLAN, IT WOULD HAVE THE PROPOSED PROJECT COSTS, UM, ASSOCIATED WITH IMPROVEMENTS THAT WILL BE TO RESPONDED.

UH, INCLUDED IN THOSE PROJECT COSTS ARE THE $20 MILLION THAT'S REPAYMENT TO THE CITY FOR THE, UH, PARKS THAT HAVE BEEN CITY FUNDED, BUT WE WILL BE TOURISTS REIMBURSED.

UM, THERE'S A LINE ITEM FOR ONGOING MAINTENANCE OF THOSE, UH, PARK FACILITIES.

THERE'S A 8.8 MILLION LINE ITEM FOR, UH, OTHER EXPENSES, WHICH WOULD BE SUBJECT TO DISCRETION OF BOTH THIS BOARD AND, UH, CITY COUNCIL FOR HOW THOSE FUNDS ARE EXPENDED ON A ANNUAL BASIS.

UH, WE HAVE, UM, A LINE ITEM FOR PRINCIPLE AND INTEREST OF THE 8 MILLION TRUST REVENUE BONDS THAT ARE CONTEMPLATED.

THERE'S A LINE ITEM, WHICH IS BASICALLY THE DELTA OF AVAILABLE REVENUES FOR PROPOSED SERIES 2025.

SO THAT'S MONEY AVAILABLE THAT COULD BE USED TO FINANCE ADDITIONAL TOURISM IMPROVEMENTS.

UM, AND THEN PUBLIC IMPROVEMENTS, WHICH IS LINE ITEM OR THE PUBLIC IMPROVEMENTS TOO, IS KIND OF THE PROPOSED BUDGET FOR THINGS THAT COULD BE, UM, CONSIDERED AND INCLUDED BASED OFF OF FEEDBACK THAT WAS PROVIDED AT OUR LAST MEETING.

IF YOU GO TO EXHIBIT H, EXHIBIT H, UM, SHOWS, AGAIN, PROPOSED IMPROVEMENTS THAT COULD BE TO RESPONDENT.

THIS IS BOTH BASED OFF FEEDBACK THAT WAS PROVIDED.

AND THEN JUST HISTORICAL WORK ACKNOWLEDGE OF DIFFERENT IDEAS THAT

[00:10:01]

YOU'LL SEE ON THIS MAP WE HAVE THE THREE ROADS, WHICH ARE SUBJECT TO THE RETAIL ROADS AGREEMENT.

THOSE ARE THE THREE ROADS THAT WOULD BE FINANCED WITH THE CONTEMPLATED 8 MILLION ISSUANCE THAT WOULD BE ISSUED.

UH, BEEN A COUPLE OF MONTHS.

WE HAVE JUST GRAPHICS RELATED TO A POTENTIAL SPORTS COMPLEX BECAUSE THAT WAS ENVISIONED AT ONE POINT.

WE HAVE CONVENTION CENTER, CONVENTION CENTER, HOTEL, UH, PARKING, GARAGE, SURFACE PARKING, SOME OFFICE SPACE.

THEY HAVE SOME INTERSECTION IMPROVEMENTS, FIVE TRAIL IMPROVEMENTS, AND THEN ALSO PEDESTRIAN TUNNEL.

SO OUTSIDE OF THE RETAIL ROADS, ALL THESE, UM, ALL OF THESE PROJECTS ARE KIND OF CONTEMPLATED OR PROPOSED.

THEY'RE SUBJECT TO CHANGE, UM, BASED ON DIRECTION PROVIDED BY BOTH THIS BOARD AND CITY COUNCIL.

UM, SO AS VALUES GROW, AS ADDITIONAL FUNDS BECOME AVAILABLE, THIS IS DEFINITELY A PLAN THAT WE CAN REVISIT OVER TIME, UM, AND MAKE SURE THAT PRIORITIES AT THAT TIME STILL ALIGN WITH WHERE WE ARE TODAY.

UM, THE AGREEMENT OR THE PROJECT AND FINANCE PLAN ALSO RECOGNIZES THE EXTENSION OF THE TERM OF THE ZONE THAT'LL BE APPROVED BY BOTH COUNSEL AND COMMISSIONER'S COURT.

AND SO UNDER THIS PROJECT AND FINANCE PLAN, THE ZONE GOES UNTIL DECEMBER 31ST, 2057.

SO HAPPY TO ANSWER ANY QUESTIONS THAT ANYONE HAS, UM, ABOUT THE PLAN.

UM, JOHN SNYDER WASN'T ABLE TO BE HERE TONIGHT, BUT I'M HERE AS A RESOURCE AND ANDREW FREEMAN WITH SANCO IS HERE AS A RESOURCE AS WELL.

FIRST QUESTION.

PUBLIC IMPROVEMENTS THAT THE 7.7 SECTION, THIS EXHIBIT H CORRECT? OF COURSE YOU'LL KNOW EXHIBIT H.

SO IF YOU LOOK AT THE PEDESTRIAN TUNNEL AND THEN THE THREE CIRCLES ON CORNERS CROSSING, THOSE ARE, UM, HALF OF THOSE ARE OUTSIDE OF THE TUR BARN OR THE TUR BOUNDARIES, IS THAT CORRECT? BACK PAGE 20? YES.

I'D PROBABLY HAVE TO DEFER TO SOMEBODY ELSE TOO.

THE TWO ON THE RIGHT OR FULLY WITHIN THE ONE ON THE LEFT IS HALF.

SO LANAR IS THE BOUNDARY OF THE TURS.

AND SO YOU CAN SEE SORT OF A WHITE COLORED AND SEE HOW, LIKE IT STOPS ESSENTIALLY OVER THE FAIRWAY LANDING OR WHATEVER.

AND THEN YOU HAVE TO KIND OF GO BACK, I THINK TO WHEREVER THE OTHER ITEM IS THAT SHOWS THE MAP OF THE TURS.

BUT THE, THE, THE ANSWER TO YOUR QUESTION IS KOHLERS AND SANDERS, YOU KNOW, THE SANDERS SIDE IS NOT IN THE TURS.

SO THE, THE LEGAL REQUIREMENT FOR IMPROVEMENTS THAT TOURISTS FINANCE IS THAT THE IMPROVEMENTS BENEFIT THE TOURISTS IMPROVEMENTS DO NOT HAVE TO BE LOCATED WITHIN THE JURORS.

THAT'S THE ACTUAL STATUTORY REQUIREMENT.

I HAVE A QUESTION.

THE, THE BUDGET, UH, RELATED TO THE JURORS AND EXPENDITURE FUNDS FOR SAY, MAINTENANCES AND OPERATIONS.

ARE WE, WILL WE GET A CHANCE TO VOTE ON THAT BUDGET AT A LATER DATE BEFORE, WELL BEFORE FUNDS START BEING EXPENDED? LIKE IF WE WANT, LIKE THERE'S LIKE A LINE ITEM FOR LIKE 650,000 FOR MAINTENANCE OPERATIONS, WILL WE GET A CHANCE TO LIKE REVIEW THAT BEFORE CHAIR BOARD SHOULD VOTE ON BUDGET EACH YEAR FOR CHAIRS REVENUES, AND AGAIN, BRING THAT TO CITY COUNCIL FOR APPROVAL.

WHAT WE HAVE IN HERE ARE JUST PROPOSALS AND HOW YOU THINK THE MONEY WOULD BE EXPENDED, UM, OVER IT'S A FIVE YEAR LOOK WITHIN THE PROJECT AND FINANCE PLAN ITSELF.

BUT AS TO THE ACTUAL EXPENDITURE FUNDS AND HOW THAT MONEY IS EXPENDED, THAT'S GONNA BE GOVERNED BY FUTURE ACTION OF BOTH THE BOARD AND COUNCIL AND NOT NECESSARILY BY THIS PLAN.

THIS PLAN JUST KIND OF SETS OUT THE VISION AND THEN THE IMPLEMENTATION COMES LATER.

AND I KNOW THAT THERE WAS A LOT OF DISCUSSION LAST WEEK ALSO REGARDING THE ISSUANCE.

UH, IS THIS 8 MILLION THE ISSUANCE THAT WAS TALKED ABOUT THAT WOULD BE SUPPORTED SOLELY WITH CITY YES.

CONTRIBUTIONS? OKAY.

TO LA VERDE, CORRECT? RIGHT HERE.

UH, WHAT I'M LOOKING AT THE MAP, UM, WOULDN'T WE NEED AN INTERSECTION IMPROVEMENT CLOSER TO THE SPORTS COMPLEX AND THE CONVENTION CENTER? I'M JUST THINKING THAT'S WHERE MORE DENSITY AND THE PEOPLE ARE LEAVING.

DO WE HAVE ENOUGH THERE TO SUPPORT THEM ON THOSE ROADS? THE DEVELOPERS MOK ARE PAYING FOR THE INTERSECTION IMPROVEMENTS AT THE, AT THE, WHERE THE RETAIL ROADS ARE BEING ADDED.

THEY'RE WORKING WITH TECH DOT.

SO WE COULD HAVE A LIGHT THERE.

RIGHT.

SO YOU SEE THAT GETTING HIT? YES.

THE, THE MAIN RETAIL ROADS LIKE, YOU KNOW, SHOW, SHOW SHOWTIME OR WHATEVER THAT ROAD IS, MAP EAST AND WEST ON PAGE 20 THAT IS GOING, THERE'S GONNA BE A FULL PEDESTRIAN INTERSECTION IMPROVEMENT THAT'S, THAT'S FUNDED BY THE MUD.

MM-HMM.

, UH, AND THE DEVELOPERS THAT WON'T BE FUNDED BY THE TURFS.

SO THAT AREA WOULD ACTUALLY LEAD

[00:15:01]

THAT ROAD.

SO THE, THE WEST GOING WEST LEADS TO LA VERDE, BUT I THOUGHT COUNCIL WAS ASKING ABOUT OVER 1626.

WELL, AROUND THE SPORTS COMPLEX, UH, I DON'T KNOW IF WE HAVE YESTERDAY OR SOMETHING ON SIX INCHES.

AND YOU MENTIONED TOO THAT THE, WHICH I'M OKAY WITH.

I'M JUST WONDERING IF WE'RE MISSING AN OPPORTUNITY OVER THERE WHERE BASICALLY HAVE LIKE A STADIUM OF PEOPLE LEAVING.

Y I I I THINK WHATEVER THE INTERSECTION IMPROVEMENTS FOR THE SPORTS COMPLEX WOULD BE FUNDED OUT OF THE BOND TO CONSTRUCT THE SPORTS COMPLEX.

SO LIKE ON THE EAST SIDE, THEY, UH, DIRECTLY ACROSS THEIR BUILDING THE NEW ROAD AS A PART OF THAT INDUSTRIAL OKAY.

BUSINESS PARK.

BUT IT'S A GOOD POINT.

YOU HAVE TO, YOU HAVE TO HAVE AN ENTRANCE INTO THE SPORTSPLEX, BUT IT'S NOT A ROAD.

IT'LL JUST BE AN ENTRANCE INTO THE COMPLEX.

SO THIS ONE IS CAPTURING THE ROADS YES.

WHICH IS WITH A BUILDING.

NOT SO MUCH THESE INTERSECTIONS.

THE, I MEAN THE PURPOSE OF THIS PLAN IS REALLY TO GIVE US, GET US TO THE POINT WHERE WE CAN DO THE $8 MILLION BOND ISSUANCE FOR THE RETAIL ROAD PROJECT.

THIS MAP IS REALLY, UM, DESIGNED NOT SO MUCH TO IDENTIFY ANY ONE SPECIFIC MM-HMM.

FUTURE PROJECT THAT WOULD BE FUNDED, BUT JUST KIND OF THE, THE UNIVERSE OF PROJECTS THAT HAS BEEN TALKED ABOUT FROM TIME TO TIME, EITHER BY THE BOARD OR BY CITY COUNCIL.

AND THEN IF DOWN THE ROAD BY, LET'S SAY WE GET THIS RETAIL ROADS AGREEMENT COMES THROUGH, THEN THE LAND GETS DEDICATED TO US FOR THE SPORTS COMPLEX ASS PART OF THIS AGREEMENT.

THEN WE GO DOWN THE ROAD, WE START DESIGNING AND PLANNING FOR IT, WE REALIZE WE WANT THE TURS TO FUND A PORTION OF THE SPORTS COMPLEX OR SOME ELEMENT LIKE THE TRAFFIC.

WE CAN ALWAYS, UH, WITH ONE MEETING COME BACK AND AMEND THIS PLAN TO INCLUDE IT.

SO IT'S NOT, THIS IS JUST BASICALLY HOW YOU CAN SEE IT FROM NOW WITHOUT A PERFECT PICTURE OF THE FUTURE, JUST AS BEST YOU CAN.

AND IT CAN BE AMENDED AS NEEDED.

UM, THIS IS SPOT COMPLEX TOO FAR INLAND.

IT'S, THIS IS A REALLY BAD MAP OF THE COMPLEX.

SO IT'S CLOSERS CLOSER TO WAY TO 1626.

I, I, I, I THINK, I IMAGINE JOHN JUST DIDN'T HAVE THE, THE, THE MAPS THAT WE HAVE THAT WE GOT, WE'VE GOTTEN FROM MO MAR CUZ I HAVEN'T EVEN SEEN THEM EXCEPT IN MY EMAIL FROM A COUPLE YEARS AGO.

SO HE PROBABLY JUST DOESN'T HAVE THE UPDATED MAP TO SHOW EXACTLY WHERE THE OUTLINES OF THE, THE ACREAGES ARE.

BUT WE COULD IMPROVE THAT MAP.

AND THEN HONESTLY, THIS CONVENTION CENTER HOTEL, I'M ASSUMING THAT IT'S NOT PARCEL SPECIFIC.

SO IF THE HOTEL ENDED UP BEING NONE OF THIS, NONE OF THIS IS PARCEL SPECIFIC.

UM, I THINK AS IT RELATES TO THIS, THIS MAP AND THE FUTURE VISION, RIGHT? WE ASK STAFF JUST TO PROVIDE US WITH, YOU KNOW, A BEST GUESS OF IF THESE PROPOSED IMPROVEMENTS WOULD BE LOCATED WITHIN NAURA ABOUT WHERE DO YOU THINK THEY WOULD BE? IT'S NOT PARCEL SPECIFIC, IT'S NOT TIED DOWN TO ANYTHING.

IT'S JUST KIND OF WHAT IS THE VISION OF THIS JURORS AND IF WE HAVE THESE TYPES OF FACILITIES ABOUT WHERE WOULD THEY BE LOCATED? I'D LIKE TO MAKE A MOTION IN THERE TO APPROVE.

ARE WE ON NUMBER FOUR? YES.

TO APPROVE AGENDA ITEM NUMBER FOUR.

THERE'S A MOTION.

IS THERE A SECOND? SECOND.

THANK THERE'S A MOTION AND A SECOND AND HAVE MORE DISCUSSION.

YEAH, I HAVE A QUESTIONS.

SO FOR NUMBER 13.2, UM, SAYS THE ZONE SHALL TERMINATE ON THE EARLIER OF I DECEMBER 31ST, 27.

OR AT SUCH TIME THAT THE OBLIGATION OF THE ZONE, INCLUDING ALL PROJECT COSTS HAVE BEEN MADE IN FULL.

SO PROJECT COSTS ARE ONLY GOING BE ADDED AS THE PROJECTS ARE COMPLETED OR LATE TO THEY STARTED.

IS THAT CORRECT? AS THE PROJECTS ARE AUTHORIZED.

AUTHORIZED, OKAY.

BUT REMEMBER YOU ALREADY HAVE RIGHT, THE 20 MILLION ASSOCIATED WITH REPAYMENT TO CITY COUNCIL.

AND SO THOSE ARE PROJECT COSTS.

AND SO WE, WE KNOW AT LEAST FOR NOW, HOW LONG THOSE OBLIGATIONS ARE GONNA GO OUT FOR.

WELL I JUST SEE LIKE THE TOTAL PROJECT COST IS A HUNDRED MILLION, BUT I JUST WANNA MAKE SURE, OR THE GRACE OF GOD IMMEDIATELY, SOMEBODY WHO'S WILLING TO FUND SOME OF THIS DEBT IF IT GETS PAID OFF SOONER THAT WE COULD FIGURE SOMETHING ELSE OUT.

AND IT DOESN'T HAVE TO END ON, ON TOTAL 56 CAUSE BECAUSE IT LOOKS LIKE IT, AS LONG AS THE PROJECT COSTS HAVE BEEN PAID IN FULL, FULL, THEN THEN IT CAN, IT CAN TERMINATE EARLIER.

JUST CURIOUS.

ANY OTHER QUESTIONS OR COMMENTS? IF NOT ALL IN FAVOR SAY AYE.

NEXT IS FIRST AMENDMENT AND RESTATED TRANSPORTATION IMPROVEMENT DESIGN, PERMITTING AND CONSTRUCTION AGREEMENT.

ANY OPPOSED? OKAY.

[5. First Amended and Restated Transportation Improvement Design, Permitting and Construction Agreement.]

THAT'LL, THAT'LL BE ME.

I'LL BE ADDRESSING THIS ITEM.

UH, WITH THE ISSUANCE OF THE TOURISTS REVENUE BONDS,

[00:20:01]

THE, THE NEXT STEP WOULD BE TO, UM, ENGAGE THE CONTRACTOR TO CONSTRUCT THE BOND, CONSTRUCT THE ROADS AND THE, THE ROAD IMPROVEMENTS.

THE CONTRACT THAT'S BEFORE YOU TODAY IS SIMILAR TO CONTRACTS THAT YOU'VE APPROVED FOR, I BELIEVE LIBERTE PARK IN WHICH THE CITY AND THE TOURIST BOARD ENGAGED, UH, PALM CREEK DEVELOPERS, WHICH IS THE, THE LAMAR DEVELOPER, PALM PALM CREEK DEVELOPERS TO ACT AS THE CONSULTANT TO THAT CAUSES THE DESIGN CONTRACT TO BE, UM, THE, THE DESIGNER TO BE ENGAGED AND A CONTRACT TO BE ENTERED AND CAUSE THE PROJECT TO BE, GET TO BE BID AND CAUSE THE CONTRACTOR TO BE SELECTED.

SO YOU KIND OF ENGAGE A, A CONSULTANT TO, TO MANAGE THAT FOR YOU AND TO BRING THOSE DOCUMENTS BACK FOR REVIEW AND APPROVAL BY THE, THE JURORS AND THE CITY AND TO PROVIDE YOU OVERSIGHT AND REPORTING ON THE PROGRESS OF THE PROJECT AND TO ADDRESS BUDGETING REQUIREMENTS FOR YOU.

SO THAT'S, THAT IS THE PURPOSE OF THIS AGREEMENT, UM, TO KIND OF, TO PROSECUTE THE WORK AND TO PROVIDE OVERSIGHT.

AND ACCORDING TO YOU, UH, RELATED TO THE RETAIL ROAD PROJECT, UH, A COUPLE OF NOTABLE THINGS HERE.

THE, THE CITY COUNCIL APPROVED A FORM OF THIS AGREEMENT, UM, LAST YEAR.

AND AS WE'VE PROGRESSED WITH GETTING THE FINANCING AND SHAPE AND, UM, UH, THE PRO THE PRO THE PROJECT HAS BEEN PROGRESSING.

UH, THIS, THIS HAD NOT COME TO THE TURS BOARD YET BECAUSE SOME OF THOSE DETAILS WERE BEING REFINED.

SO WHEN YOU APPROVE THIS, IT'S NOT A FIRST AMENDED AND RESTATED, IT'S JUST THE TRANSPORTATION AND DESIGN PERMITTING AGREEMENT.

SO THAT'S, UH, THE FIRST THING.

THE SECOND THING IS THAT THE DEVELOPER HAS GONE AHEAD AND, UH, ENGAGED A, AN ENGINEERING FIRM WGI TO, TO, TO DESIGN THE ROADS.

AND THEY HAVE, IF THEY'RE NOT COMPLETE, THEY'RE ALMOST COMPLETE.

AND SO THIS AGREEMENT RECOGNIZES THAT WGI HAS BEEN ENGAGED AND APPROVES THAT ENGAGEMENT AS WELL AS THE COST OF THAT ENGAGEMENT, WHICH IS, UM, $635,120 AND APPROVES THAT ENGAGEMENT.

THE, THE TURS BOARD IN THIS DOCUMENT ALSO AGREES TO, UM, AND THE CITY AGREE TO PAY ANY COSTS OF THE PROJECT OUT OF THE TURS REVENUE BONDS, WHICH IS A REQUIREMENT OF THE RETAIL ROADS AGREEMENT THAT WE HAVE THAT AGREEMENT.

SO IT SAT SATISFIES THE TERM OF THE RETAIL ROADS AGREEMENT, BUT THIS ALSO PROVIDES THAT, UH, THE, THE CITY AND THE TURS ARE NOT OBLIGATED TO MAKE ANY PAYMENTS UNDER THAT WGI AGREEMENT UNTIL THE CITY IS IN POSSESSION OF THE TURS BONDS.

SO, WANTED TO MAKE YOU AWARE OF THAT.

THE DEVELOPER HAS PROCEEDED WITH THAT AND ENGA AN INCURRED COSTS.

BUT THOSE COSTS ARE NOT AN OBLIGATION OF THE CITY OR THE OF THE TURS BOARD UNTIL YOU HAVE ISSUED THOSE TURS REVENUE BONDS AND HAVE RECEIVED THEM.

BUT THE CI CITY WILL BE LIABLE FOR THAT.

THE CITY WILL BE, WILL HAVE TO PAY THAT AFTER THE TURS BONDS ARE ISSUED AND IN, IN HAND.

AND THEN AT THAT TIME THE CONTRACT WOULD BE ASSIGNED TO THE CITY SO THAT YOU HAVE PRIVATIVE CONTRACT WITH WGI AND THAT MEANS THAT THEY'RE OBLIGATED TO THE CITY TO HAVE PERFORMED UNDER THEIR LICENSE TO PREPARE GOOD PLANS.

AND, UM, SO THAT YOU'LL HAVE A CONTRACTUAL OBLIGATION WITH THAT DESIGN ENGINEER.

AND AT THAT TIME YOU HAVE THE OBLIGATION TO PAY, BUT OUT OF THE FUNDS IN HAND, YOU'LL HAVE FUNDS YOU DON'T PAY UNTIL YOU HAVE FUNDS IN HAND FROM THE, FROM THE TOURISM, I'M ASSUMING FROM THE TURS REVENUE BONDS.

DO WE, DO WE HAVE AN AMOUNT? UH, PEREZ AND HOW MUCH IS CURRENTLY IN THE FIT'S ACCOUNT? Y YOU, YOU ARE NOT GONNA HAVE TO, YOU DON'T HAVE TO PAY, RIGHT? NO, I'M JUST CURIOUS OVERALL.

SO MADAM CHAIR BOARD MEMBERS FOR THE RECORD, I'M PROFESS CITY'S DIRECTOR OF FINANCE, UH, COUNCIL MEMBER.

I BELIEVE YOUR QUESTION WAS HOW MUCH FUNDS DO WE HAVE IN THE TURS TO TO FUND? WE CURRENTLY HAVE ABOUT APPROXIMATELY $2 MILLION.

THANK YOU.

BUT THE AGREEMENT THAT PAGE JUST WENT OVER, IT WILL BECOME THE JUROR'S OBLIGATION AND WE WILL, THE JURORS WILL BE RESPONSIBLE FOR PAYING W G'S BILL ONLY AFTER THE BOND PROCEEDS ARE IN OUR HANDS.

AND HIS HANDS.

YEAH, I WAS JUST CURIOUS HOW MUCH WE HAD IN THERE.

BUT IT'S NOT AVAILABLE TO SPEED , IT'S NOT AVAILABLE.

WELL, IT'LL BE AVAILABLE DURING THE BUDGET CYCLE.

OH NO, I GET THAT.

I GET THAT.

THE TOURISM IS GROWING? LIKE WHETHER IT BE ADDITIONAL COST IN THE PLANNING TO DWW WGI, OR IS THIS A ONE TIME KICKING KICKSTARTING THE PROJECT? SO MY UNDERSTANDING IS WGI IS ALREADY DESIGNING, THEY'RE ALMOST COMPLETE DESIGNING THE RETAIL ROADS.

SO YOU'LL TELL ME AGAIN LATER.

HOW MUCH THANK YOU.

WILL IT BE A ONE TIME, UH, PAYOUT OR IS IT GONNA BE GROWING AS

[00:25:01]

SO BY THE TIME WE HAVE THE BOND PROCEEDS IN OUR POSSESSION, UH, IT WILL BE PRETTY MUCH 100% OF THE PAYMENT DUE.

SO WGI IS CURRENTLY, IF THEY'RE DOING WORK, THEY'RE ENGAGED WITH SOMEBODY WHO ARE THEY ENGAGED WITH? WITH THE PLUM CREEK DEVELOPER? MM-HMM.

SO IF WE SAID NO, THEN THE PLUMB CREEK DEVELOPER WOULD BE THE ONE THAT'S RESPONSIBLE FOR THIS PAYMENT.

ONCE YOU AGREE TO THIS AGREEMENT, THEN WE ARE RESPONSIBLE.

SO WHY WOULD WE DO THAT? YOU'RE YOU'RE AGREEING, YOU'RE AGREEING TO AGREE.

SO, SO THIS AGREEMENT SAYS THAT YOU WILL REIMBURSE OR YOU WILL PAY WGI ONCE YOU HAVE THOSE TURS REVENUE BONDS IN HAND AND YOU'LL BE ASSIGNED TO THE CONTRACT.

TOTALLY UNDERSTOOD.

MY QUESTION WOULD BE, IF SO, IT'S ALREADY BEEN STARTED AND THAT ENGINEERING GROUP HAS BEEN HIRED BY SOMEBODY ELSE.

THERE'S A, THERE'S A PAYMENT ALREADY DUE.

IF WE SAID NO, THE DEVELOPER WOULD BE RESPONSIBLE FOR THAT PAYMENT.

SO WHY WOULD THE CITY CITE INSTEAD TO TAKE THAT AND PUT INTO A BOND PAYMENT THAT WE WOULD BE THIS IS TIED TO THE RETAIL ROADS AGREEMENT AND THE LAND THAT THE CITY IS GETTING EXCHANGE FOR THE RETAIL ROADS.

THERE YOU GO.

PART OF WHAT THE CITY HAS TO PAY AND THE CONSTRUCTION OF THE RETAIL ROADS IS THE DESIGN OF THE ROADS.

, MAYBE I DIDN'T ASK THE RIGHT QUESTION.

I WAS JUST CURIOUS.

CAN I MAKE A MOTION TO APPROVE, UH, AGENDA ITEM NUMBER FIVE? OKAY.

THERE IS A MOTION.

IS THERE A SECOND? SECOND.

THERE'S A MOTION AND A SECOND.

ANY OTHER DISCUSSIONS OR QUESTIONS? OKAY.

IF NOT ALL IN FAVOR SAY AYE.

ANY OPPOSED? OKAY.

[6. Discussion regarding scheduling the next meeting.]

ITEM NUMBER SIX.

DISCUSSION REGARDING SCHEDULING OF THE NEXT MEETING.

TRAVIS, NEXT WEEK YOU'RE TRAVIS .

WAIT, WAIT, WAIT.

TOMORROW NIGHT, LET'S GO TOMORROW NIGHT.

OH, YOU'RE KILLING US.

WHAT IS OUR NEXT MAJOR TASK? THAT WE'RE GONNA BE THE SALE OF THE BONDS.

WHEN WILL THAT BE? THAT DOESN'T HAVE TO BE, WE DID THAT TODAY, RIGHT? I BUILT ON TODAY'S RESOLUTION, THE REQUEST FOR THEM TO MM-HMM.

THEIR RECOMMENDATION THAT THE CITY COUNCIL WILL ISSUE THE CHANGE REVENUE BONDS.

SO THAT ACTION OF THIS BOARD HAS OCCURRED.

I MEAN, I WOULD THANK UPCOMING BUDGET SEASON, IF YOU WANNA LOOK AT THE TOURISTS BUDGET FOR NEXT YEAR.

AND TOURISTS BUDGET FOR SURE.

BUDGET A MORE ROBUST DISCUSSION.

AND THEN ALSO TO IDENTIFY, UM, THE NEXT IMMEDIATE PROJECT, IF ANY, THAT WE WANT TO PURSUE.

BECAUSE THERE ARE A COUPLE, LIKE THE SURFACE PARKING NEXT TO LA VERDE AS LA VERDE'S GETTING READY TO BE COMPLETED.

UH, THAT'S ALSO A PART OF A JOINT USE DEAL.

IT'S NOT EVEN OUR LAND.

IT'S A, UH, SCHOOL DISTRICT'S LAND, OR AT LEAST IN PARK.

UM, SO, BUT IT'S THE SAME BASIC IDEA THAT WE COULD EITHER ISSUE A TUR REVENUE BOND FOR THAT.

I THINK IT'S MAYBE A COUPLE MILLION CITY COULD ACTUALLY DESIGN AND CONSTRUCT IT IN-HOUSE.

UH, SO THOSE, AND I'M NOT SUGGESTING WE WOULDN'T MAKE ANY DECISIONS ON THAT, BUT I WOULD LOVE FOR US TO HAVE A MEETING TO DISCUSS IT.

SO THAT COULD BE ONE MONTH AT LEAST.

WHAT ABOUT TUESDAY'S MEETING COMING UP? IT'S TOO LATE.

IS THAT NOT ENOUGH TIME? NO, WE DON'T, IT'S NOT THAT, IT'S NOT THAT MUCH RUSH.

WE HAVE OUR BUDGET MEETING MAY 13TH.

DO WE WANNA ADD IT TO THAT AGENDA? WELL, IT'S, THEY'RE THE, IT'S OUR COMMISSIONERS WHO DRIVE THE MEETINGS.

THEY'RE THE ONES THAT I THAT'S A SATURDAY.

YEAH, I KNOW.

LIKE THOSE DEER, THE WEEK GAMES.

WE COULD PROBABLY DO IT LIKE ON THURSDAY.

THURSDAY 11TH.

YEAH, THE 11TH.

YOU OKAY WITH THAT? WHAT'S THAT? I'LL BE, UH, NO BACK.

WILL YOU DO IT LIKE THE FOURTH? CAUSE WE HAVE A MEETING THAT TUESDAY, THE 4TH OF MAY 18TH.

MAY THE FOURTH.

FURTHER OUT THAN NAP.

CAUSE WE'RE GONNA NEED TIME STAFF'S GONNA NEED TIME TO SORT OF PREPARE.

WHAT ABOUT THE 18TH? THAT'S A THURSDAY.

I LIKE THAT BETTER.

25TH.

SHOULD WE SHOOT FOR JUNE OR MAY? THINK? MAY 18TH.

MAY 18TH.

SOUNDS GOOD.

EVERYBODY ELSE OKAY? NO.

WOULD THAT WORK? 19.

SAME THAT TIME? SAME.

6 6 6 6 30.

6 36 TO 6 0 5.

ALL RIGHT.

THERE'S NO NEED TO GO INTO EXECUTIVE SESSION, CORRECT? WE NEED EXECUTIVE, YES.