Jun 15, 2021 McKinney Economic Development Corporation on 2021-06-15 8:00 AM

[CALL TO ORDER]

[00:00:08]

THE MCKINNEY ECONOMIC DEVELOPMENT CORPORATION MEETING. IT IS TUESDAY, JUNE 15TH 2021 WHEN THE COUNCIL CHAMBERS THAT KENNY CITY COUNCIL. 2 22 NORTH TENNESSEE STREET IN MCKINNEY, TEXAS. TIMES, ED CLARK, AND I'LL CALL THE MEETING TO ORDER. PURSUANT TO THE TEXAS GOVERNMENT CODE SECTION 551002 A QUARTER OF THE CITY COUNCIL MAY BE PRESIDENT, BUT NO CITY COUNCIL ACTION WILL BE TAKEN. THE MEETING IS TELEVISED. IF YOU WISH TO, UH, SPEND YOUR MORNING WATCHING THE, UM, A D. C MEETING. SO, UH, WITH THAT WE WILL GO ON TO PUBLIC COMMENTS ON AGENDA ITEMS. UH, ANYBODY WISHED TO SPEAK ON A. PUBLIC COMMENT. ANYBODY WHICH SPEAK ON AN AGENDA ITEM CURRENTLY BEFORE THE BOARD. RIGHT MOVE TO CONSENT ITEMS. IT'S A PORTION

[CONSENT ITEMS]

SECOND BY MR MINUTES, ALI. CAST YOUR VOTES. IS A CLOSE RACE, BUT JOE. ONE NEXT. WE HAVE OUR

[Board and Liaison Updates Board Chairman City of McKinney Chamber of Commerce Community Development Corporation Visit McKinney]

I DON'T REALLY HAVE A LOT TO SAY IT IS THE SUMMER AND HOPING EVERYBODY HAS A NICE, WARM ERCOT SUMMER. AND, UH, YOU KNOW, BEYOND THAT. THINGS ARE GREAT AT THE M E. D. C.

ACTUALLY HAVE CITY OF MCKINNEY. GOOD MORNING, MR CHAIRMAN, MR PRESIDENT, MEMBERS OF THE BOARD AND PAUL GRIMES, THE CITY MANAGER. ONE OF THE SHARE JUST A FEW ITEMS WITH YOU THIS MORNING. OUR BOARDS AND COMMISSIONS, OR, OF COURSE, ARE ACTIVELY SOLICITING SEEKING APPLICATIONS. ALL BOARD MEMBERS I BELIEVED ARE REQUIRED TO APPLY TO BE REAPPOINTED. THE DEADLINE IS THIS FRIDAY, JUNE 18TH, SO THE DEADLINE IS APPROACHING FRIDAY, JUNE 18TH IF YOU KNOW OF ANYBODY THAT'S INTERESTED IN SERVING OUR BORDER COMMISSION. PLEASE LET THEM KNOW. FRIDAY JUNE 18TH IS THE DEADLINE FOR APPLICATIONS. UM THE CITY COUNCIL WILL MAKE THOSE APPOINTMENTS TO BOARDS AND COMMISSIONS RIGHT NOW SCHEDULED FOR TUESDAY, AUGUST 24TH, AND THEN NEWLY APPOINTED MEMBERS WILL BEGIN THEIR SERVICE ON OCTOBER ONE, WHICH STARTS WITH OUR FISCAL YEAR. WE HAVE A JUNETEENTH CELEBRATION. WE'RE VERY EXCITED ABOUT THIS.

UM THIS IS A JUNETEENTH CELEBRATION THIS SATURDAY, JUNE 19TH AT FINCH PARK. IT IS AN ALL DAY EVENT. UH, CITY SECRETARY. AND JAKAYA IN OUR MAIN STREET IN SPECIAL EVENTS GROUP ARE THE PRIMARY ORGANIZERS OF THIS EVENT. WE'VE BEEN ABLE TO PULL THIS TOGETHER IN FAIRLY SHORT ORDER. WE'VE GOT LOTS OF SPONSORS. LOTS OF ACTIVITIES, FOOD TRUCKS, ENTERTAINMENT, FITNESS AND WELLNESS ACTIVITIES. 60 LOCAL VENDORS. AND AS ALWAYS, HIGHLY POPULAR FREE SWAG, SO COME TO THE JUNETEENTH CELEBRATION SWING BY IT'S ALL DAY SATURDAY, I HEARD A RUMOR THAT YOU WERE GOING TO BE IN A DUNK TANK. I DON'T KNOW IF THERE HAS THAT NOT TRUE DON'T TANK FOR YOU KNOW. YEAH. NO, NO, DON'T THANK FOR ME. OKAY THAT'S WHAT I THOUGHT. I HEARD. I THOUGHT I HEARD SOMETHING ABOUT A DUNK TANK AND YOUR NAME WAS IN IT.

YES THANK YOU GOT A 2ND 2ND AUDIENCE OUT. THANK YOU. BOARD MEMBER, KEEN, HELPFUL SUGGESTION. UH THAT WOULD BE THE HUGE FUNDRAISER. HUGE FUNDRAISER. THIS HEAT CONTINUES IN MY VIEW. OKAY OKAY. A GOOD IDEA TO PROVE, UH. THE BBC SPONSOR 2020 CENSUS CENSUS 2020 WE ARE IN 2021 AS YOU KNOW, AND THE CENSUS IS A LITTLE BIT LATE, BUT THEY ARE EXPECTED. THE U.

S. CENSUS BUREAU IS EXPECTED TO BE DELIVERED. THE REDISTRICTING DATA IS EXPECTED TO BE DELIVERED TO THE STATES BY AUGUST, 16TH. THIS SUMMER. FULL REDISTRICTING DATA WITH TWO KIDS IS EXPECTED BY SEPTEMBER, 30TH, AFTER WHICH TIME THE CITY OF MAKENI WILL BEGIN ITS OWN PROCESS OF REDISTRICTING. IT'S COUNCIL BOUNDARIES, SO THAT'S RIGHT AROUND THE CORNER, AS THEY SAY. AND I BELIEVE THAT IS ALL I HAVE. I WANT TO JUST GO CHECK. MAKE SURE I DIDN'T HIGHLIGHT ONE OTHER ITEMS SHARE THAT IS ALL I HAVE. TODAY. I WILL STAND FOR ANY QUESTIONS.

THE COUNCIL BOUNDARY REDISTRICT AND I NEVER THOUGHT OF THAT. AND WHEN DOES THAT BECOME EFFECTIVE? IS IT EFFECTIVE AT THE NEXT ELECTION? OR WILL SOMEBODY AUSPICIOUSLY BEING

[00:05:03]

UM AND THEY'RE ALL BY DISTRICT. IT USED ■TO BE AT LARGE. MOST STATES AND CITIES ARE TYPICALLY SEVEN. UM. YOU GET IN A VERY LARGE CITIES LIKE DALLAS AND OTHERS. YOU MAY GET LARGER NUMBERS OF COUNCIL MEMBERS, BUT I THINK WE'RE AT 200,000. WE STILL GOT A WAYS TO GO BEFORE YOU CHANGE THAT NUMBER. IT'S ULTIMATELY GOING TO COUNCIL DECISION. THEY WANTED TO DO THAT. ANY OTHER QUESTIONS. 13. NO, THANK YOU. THANK YOU VERY MUCH. AND CHAMBER OF COMMERCE.

GOOD MORNING. AND YES, I DO CONCUR. COUNCIL BOARD NUMBER CANE DISTRICT THREE IS THE BEST DISTRICT IN THE CITY. YES, I WILL. SECOND THAT. UM OKAY. A COUPLE OF UPDATES THIS MORNING JUST IS I MEAN, WE HAVE TO HAVE, LIKE A DON'T TAKE CONTEST OR SOMETHING. HEY I'M WITH YOU.

THE HEAT IS I MEAN, I WOULD VOLUNTEER SINCE WE GOT A VOLUNTEER. I JUST HEARD ONE.

LISA SAID SHE'S IN CHAMBER OF COMMERCE. VISA SAYS SHE'S IN THEN YOU GOTTA KURT, YOU'VE GOT YOUR PROCESS M E D C SPONSORED. GO TAKE SO THEY'RE BEING WHEN THEY TOLD US TO CONSERVE ELECTRICITY AFTER NOT HAVING ELECTRICITY IN FEBRUARY. I'M LIKE, OKAY, I'M ON IT. WE'RE TURNING OFF LIGHTS AND DOING WHAT WE CAN IN THE HERMES HOUSEHOLD. ALL RIGHT. SO A COUPLE OF UPDATES FOR YOU, WE DO HAVE A DEVELOPMENT UPDATE. BUSINESS DEVELOPMENT UPDATE AND THE TOPIC IS TRENDS IN MANUFACTURING AND INDUSTRIAL SECTOR AND THAT WILL TAKE PLACE. UH, JUNE 29TH FROM 7 30 TO 9 A.M. AT THE CINEMARK AT THE CORNER OF HARDENED IN 3 80.

WE HAVE A PANEL OF SPEAKERS. KEVIN KIEFER WITH ENCORE WIRE. JOSH WHEELER WITH STONE MILL STONE, MONT. FOUND FINANCIAL WHO WAS THE DEVELOPER FOR THE AMAZON WAREHOUSE AND JT SANFORD

[00:10:02]

THOSE ARE ALWAYS WELL ATTENDED AND VERY POPULAR ARE JULY COURTED LUNCHEON, I THINK IS GOING TO BE OF. OF IMPORTANCE. IT IS THE STATE OF EDUCATION. AND AS YOU ALL KNOW, THERE'S SIX SCHOOL DISTRICTS THAT ARE INSIDE THE CITY LIMITS OF MCKINNEY ICE EARTH CITY OF MCKINNEY. SO WE HAVE INVITED A COUPLE OF THE SUPERINTENDENT'S NOT ALL SIX OF THEM, AND WE'LL HAVE A PANELIST SPEAKERS, OF COURSE, OUR VERY OWN. MCKINNEY ISD SUPERINTENDENT, DR RICK MCDANIEL BE PARTICIPATING AS WELL AS FRISCO AND PROSPEROUS SUPERINTENDENTS AND. IS HE BINGER WITH RAZOR HERE IN TEXAS, WHICH IS A NONPROFIT ORGANIZATION FUNDED BY THE HD BUDS FOUNDATION. UM THAT FOCUSES ON PUBLIC EDUCATION SHALL BE OUR MODERATOR THAT DAY, SO. LOT OF GOOD INFORMATION. WE THINK IT'S OBVIOUSLY PUBLIC EDUCATION IS CRUCIAL TO WORKFORCE DEVELOPMENT AND CREATING THAT PIPELINE AND, UM OF ALL THE YEARS TOO. IT'S ALWAYS IMPORTANT, BUT AFTER GOING THROUGH WHAT WE'VE GONE THROUGH THIS PAST YEAR, I'M SURE LOTS OF QUESTIONS ABOUT HOW OUR SCHOOL DISTRICTS WILL BE HANDLING KIDS COMING BACK AND. TEACHERS AND HOPEFULLY HAVEN'T HAD BURNED OUT AND HOW WE'RE ADDRESSING ANY OF THAT THE SLACK THAT WE HAVE OCCURRED IN 2020, SO I ENCOURAGE YOU TO BE A PART OF THAT. THAT'S JULY 22ND. AT COLLIN COLLEGE IS, UH, CONFERENCE CENTER. UM UH, JUST ONE OTHER THING I WANTED TO BRING TO YOUR ATTENTION IS THAT WE ARE GOING TO BE WORKING WITH.

WE'VE HAD A COUPLE CONVERSATIONS BY EMAIL WITH WITH DANNY AND. MADISON ABOUT R B R E VISITS OUR BUSINESS RETENTION EXPANSION VISITS, SO WE'RE GOING TO BE HELPING PARTNER AS WE DID BEFORE, BUT REGROUP. WE'RE LOOKING AT HOW WE'RE CONSOLIDATING SOME OF OUR LIST OF INFORMATION. WHAT. DATA WE HAVE FROM THE CHAMBER SIDE WHAT THEY HAVE FROM THE D C SIDE SO THAT WE'RE WORKING COLLABORATIVELY TOGETHER AND REVAMPING AND REBOOTING THAT NOW THAT NOW THAT WE'RE IN PERSON AGAIN, AND IT'S EASIER TO, UH. KNOCK WILL KNOCK ON SOMEBODY'S DOOR AND HAVE A MEETING IN PERSON WITH THEM AND GET THOSE VISITS BACK UP AND RUNNING. SO I ANTICIPATE SOMETHING PROBABLY ALONG THE LINES OF AUGUST DEVICE REALLY HITTING THAT FULL FORCE, BUT. WANT TO GIVE YOU THE UPDATE. I KNOW YOU SEE THE STATS ON THE DASHBOARD EVERY MONTH AND WERE EXCITED TO GET THAT PROGRAM THAT PROGRAM GOING SO THAT'LL STAND FOR ANY QUESTIONS. SHOULD REMARK THE BREAKFAST LAST WEEK WITH DAVID CRAIG WAS VERY TIMELY BUT VERY WELL EXECUTED AND VERY WELL APPRECIATED. I KNOW WE HAD QUITE A BIT OF ATTENDANCE HERE FROM THE D C BOARD, BUT. HEARING HIS PERSONAL INSIGHTS INTO THE YOU KNOW THE GENESIS AND THE ELEMENT OF THE BYRON COMING HERE. NELSON COMING HERE WAS.

REALLY COOL. SO THANKS FOR DOING THAT. YES, WE WERE A LITTLE RUSTY GOING BACK IN PERSON WE HAD TO READ. IT WAS A BLAST. IT WAS SO THANK YOU, JOE. FOR THE NAME TAGS. WE HAD TO DUST THOSE OFTEN. GET BACK TO WHAT WE WILL WE NORMALLY DO AND IT WAS. IT WAS WONDERFUL TO BE ABLE TO HOLD AN IN PERSON EVENT AND SEE PEOPLE AND NOT IN HIS IN BOX. SO, UM, FEELS LIKE A GOOD SENSE OF NORMALCY. COMING BACK TO WHERE WE WERE. WE WERE BACK IN 2019. CAN I DO APPLAUD YOU FOR BRINGING IN PROSPEROUS TEASE SUPERINTENDENT TO SPEAK. IT IS ONE OF THOSE THINGS THAT AS MCKINNEY GROWS OUT OUR BIGGEST GROWTH OPPORTUNITIES IS IN THE NORTH PART WHERE PROSPER IS THERE, SO IT'S GOOD TO KNOW THAT WE'RE ALL MCKINNEY'S, EVEN THOUGH IT'S A TALE OF TWO CITIES AS ONE OF THOSE RESIDENTS, BUT IT'S GOOD TO KNOW THAT WE'RE LOOKING AT ALL DEVELOPMENTS AND HOW IT ALL AFFECTS, YOU KNOW, SDS AND ALL RESIDENTS OF BIKINI. WELL, AND WE DID WE UNFORTUNATELY, ALLEN, ISD SUPERINTENDENT WAS UNABLE TO BE THERE. BUT AS YOU KNOW A LOT OF THE DEVELOPMENT AND THE BUSINESSES THAT YOU'RE BRINGING IN PAY PROPERTY TAXES INTO THOSE THE SCHOOL DISTRICT. SO ARE WE KNOW. NO YES. SO I THINK IT'S VERY IMPORTANT FOR OUR BUSINESS COMMUNITY TO KNOW WHAT'S HAPPENING IN THOSE IN THOSE DISTRICTS BACK WHEN I WAS WHEN I WAS MAYOR, I SPOKE AT THINK IT'S BAKER ELEMENTARY AND PROSPER. THE SECOND GRADER. ASKED ME SAID THAT HIS PARENTS WANT TO KNOW WHY THEIR TAXES WERE SO HIGH SECOND GRADE. WOW SAID, DO YOU LIKE THAT PARK OUTSIDE YOUR WINDOW HERE AT THE SCHOOL? TO COMPLAIN TO A DIFFERENT UM, YEAH, ENTITY? YEAH THERE YOU GO. STARTING YOUNG PROSPER. TEXAS. YEAH. SAID. TALK TO MAYOR FULLER DID. YEAH. ALRIGHT. ANY OTHER

[00:15:05]

AND MY KOWSKI, DIRECTOR OF PARKS AND REC WILL PRESENT HIS, UM, REQUEST FOR FUNDING OR PROJECTS THAT HE WOULD LIKE TO SEE FUNDED AND THE NEW FISCAL YEAR FY 22 AT OUR MEETING IN JULY, SO THEY'VE GOT A REALLY GREAT PROJECTS THAT ARE EITHER COMPLETED OR CLOSE TO COMPLETION. SENIOR CENTER RENOVATION IS DONE. OLD SETTLERS WILL REOPEN AND JULY, UM IN IT IF YOU HAVE A CHANCE TO GET THERE DURING THE GRAND OPENING FESTIVITIES, THAT'S REALLY INCREDIBLE WHAT THEY'VE DONE THERE AND THEN. COTTONWOOD PARK, WHICH IS ADJACENT TO THE COTTON MILL. UH. DOWN HIGHWAY FIVE HAS JUST REOPENED AND THEY'VE DONE AN INCREDIBLE JOB THERE. SO UM. I THINK THAT'S IT. I'M HAPPY TO STAND FOR ANY QUESTIONS. QUESTIONS, COMMENTS.

YOU. RIGHT? VISIT MCKINNEY MHM. GOOD MORNING AND THANK YOU FOR THE OPPORTUNITY TO SPEAK THIS MORNING, SO OUR BOARD CONTINUES TO WORK WITH, UH, STEVEN POWELL FROM DESTINATION SERVICES. UM HE IS HELPING US WITH THE TOURISM STRATEGIC PLAN. HE WILL BE HERE. THE 23RD TO THE 20 THROUGH THE 25TH AND WE ARE WORKING ON SOME SURVEYS THAT ARE BEING SENT OUT TO MEETING PLANNERS. AS WELL AS OUR HOTEL'S BEEN USING ATTRACTIONS. UM. WE ARE ALSO WORKING WITH THE DALLAS BILL COMMISSION RIGHT NOW ON A POTENTIAL FILM, UH, TV SERIES PROJECT OUR NEW C AS SORRY OUR NEW WEBSITE LAUNCHED JUNE 10TH. IT WAS A SOFT LUNCH. SO IF YOU HAVEN'T BEEN TO THE VISIT, MAKE ANY WEBSITE, PLEASE GO CHECK THAT OUT. WE HAVE ANOTHER INFLUENCER COMING THE REAL KIKA ON JUNE JUNE 26TH THROUGH THE 27TH. AND THEN WE ALSO HAD A PIECE THAT WAS PUBLISHED BY A TRAVEL WRITER. CRIMP KIM CRESCENT ON TRAVEL WEIGHTS .COM SO THAT WAS FREE. AND THEN I JUST WANTED. MY REPORT WAS NOT ATTACHED BECAUSE I HAVEN'T GOTTEN OF THE UPDATES FROM THE HOTELS FROM THE BYRON NELSON. BUT I DID WANT TO SHARE AT LEAST WHAT I HAD. I'M WAITING ON TWO HOTELS. WE PICKED UP ABOUT 679 ROOM NIGHTS. BUT I DO WANT TO SHARE THAT ALAN PICKED UP 1000 32 ROOM NIGHTS. BRISCOE PICKED UP 644 ROOM NIGHTS AND PLANO PICKED UP 1000 AND TWO. SO, UM. JUST HOPING THAT NEXT YEAR WE CAN KIND OF STEERED THEM TO COME TO MCKINNEY OR HELP US FILL OUR HOTELS BEFORE THEY GO ANYWHERE ELSE. UM AND DO YOU TRACK VACANCY RATES OR WHATEVER, LIKE I SAID. OF THE ROOM NIGHTS. IS THAT BECAUSE OF CAPACITY OR IS THAT JUST. THAT COULD BE JUST THE ROOMS THAT WERE PICKED UP. SO WHEN I MET WITH, UM BETTY FROM THE, UM. JOHN'S A STAFF. UM AND I TOOK HER TO SEE ALL OUR HOTELS AND

[00:20:02]

[Consider/Discuss MEDC Monthly Organizational Report]

FOR THE IMMEDIACY AND FOR THE CITY MCKINNEY WITH THE GROUNDBREAKING OF THE DISTRICT 1 21 TIES AND DEVELOPMENT PARTNERS, 200,000 SQUARE FOOT SPECULATIVE OFFICE BUILDING, UH, FIRST SPECULATIVE OFFICE BUILDING IN MCKINNEY. UH AND THAT'S THAT'S GOING TO BE REALLY EXCITING. AND WE KEEP IN TOUCH REGULARLY WITH KAIZEN AND POLICING ACTIVITIES GOING WELL, SO FAR, SO WE DON'T HAVE EXACT PERCENTAGES YET, BUT. WE DO KNOW THAT THEY'RE IN THE FINAL NEGOTIATIONS FOR 30,000 SQUARE FOOT USER. WE HAVE POTENTIALLY ANOTHER USER ON ON THE HOOK AS WELL AS WELL AS OUR OUR OFFICES. AND SO, UH, LEASING ACTIVITIES GOING WELL, WE HOPE SECOND BUILDING WILL COME COME SOON. AND THAT'S GO AHEAD. THANK YOU. QUESTIONS. YEAH I'D JUST LIKE TO OFFER AGAIN. CONGRATULATIONS AND KEEP UP THE GOOD WORK ON ALL THE POSITIVE PRESS. WE'RE GETTING IN THE MEDIA. I MEAN, IT'S LIKE THERE'S A STORY ABOUT MCKINNEY ALMOST EVERY OTHER DAY. IT SEEMS LIKE SO GREAT JOB BY GETTING THE WORD OUT. NEXT WE

[Consider/Discuss MEDC Monthly Metrics Dashboard Report]

[Consider/Discuss/Act on April 2021 Financials]

[Consider/Discuss/Act on May 2021 Financials]

I'LL BE GOING OVER THE HIGHLIGHTS. WE HAVE TWO SETS OF FINANCIALS, AND I'M MAINLY HERE TO ANSWER ANY QUESTIONS YOU MIGHT HAVE FOR ME, UM, FOR ABEL. THESE ARE BOTH KIND OF EXCITING MONTHS OF STUFF GOING ON. FOR APRIL. WE HAD $1.1 MILLION IN REVENUE FOR EXPENDITURES WE HAVE. THIS IS WHERE PROJECT HANDLE CAME OUT SALES 10.7 MILLION ARCHIVES IN AND SO THAT

[00:25:01]

APPLICABLE TO THE MONTH OF MARCH. THIS IS MARCH SALES TAX. WE SAW 43% INCREASE. UM FOR COMPARISON, ALLEN HAD A 46% INCREASE. FRISCO SAW 43% INCREASE IN PLANO. HOW IT WAS ABOUT THAT EVEN THEY HAD LIKE 1% DECREASE FROM LAST YEAR. SO YOU CAN TAKE INTO LAST YEAR WAS THE FIRST REALLY MONTH OF COVE IN THAT COULD KIND OF WAY INTO IT. BUT AFTER LOOKING AT THE NUMBERS, IT LOOKS LIKE THE LOT OF THOSE NATURAL GROWTH, SO OBVIOUSLY WE DON'T EXPECT TO SEE 40% INCREASE MOVING FORWARD, BUT. AND THE 10 TO 20% RANGE COULD BE POSSIBLE WITH THE WAY THAT THE NUMBERS CAME BACK. IT WASN'T. YOU KNOW, IT'S NOT LIKE KNEW IT WASN'T COMING FROM NEW BUSINESSES COMING IN. THAT WAS THE SAME AMOUNT. IT WAS MAINLY JUST FROM BUSINESSES WE HAVE HERE. INCREASING THEIR SALES TAX. AND UM, IT WILL BE INTERESTING TO SEE WHAT THE NEXT FEW MONTHS COME OUT BY. THAT WAS INTERESTING, ESPECIALLY FROM A 13% DECREASE THE 43 INCHES KIND OF. CHANGE BUT I'M HAPPY TO ANSWER ANY QUESTION THAT BRINGS OUR YEAR TO DATE 11.5% WE BUDGET AROUND FOUR OR 5% SO WE'RE ALMOST DOUBLE THAT. SO FAR. THIS WAS CLEAR. I'LL BE HAPPY TO ANSWER ANY QUESTIONS. SO. 11% YEAR TO DATE INCREASE OVER RICE. OKAY UM, IT STRIKES ME AND IT DOESN'T REALLY MATTER RATHER THAN I'M CURIOUS STRIKES ME THAT. LAST MARCH, RESTAURANTS WERE BY AND LARGE. SHUT DOWN, YOU PAY TAX ON FOOD AND RESTAURANTS, BUT YOU DON'T PAY IT IN THE GROCERY STORES. YOU KNOW IF I GO BUY HAMBURGER, THE GROCERY STORES NO SALES TAX ON THAT, SO YOU KNOW, IT JUST STRIKES ME IS THAT BEING RELEVANT HERE AND MAY BE A HARBINGER OF THINGS TO COME? BUT THAT'S A PRETTY STAGGERING NUMBER, AND IT'S BEING THAT'S CONSISTENT IN OUR SISTER CITIES, TOO. SOMETHING CORRECTLY AND WE DID. I DID A LOT OF ANALYTICS ON IT. TRYING TO PINPOINT LIKE WHAT IS SUSTAINABLE. WHAT'S NOT, AND SEEING THE MAJORITY THAT COMING FROM NATURAL GROWTH FROM BUSINESSES THAT WE THAT WERE OPEN LAST MARCH HERE, MCKINNEY. THAT OUR HERO OPEN AGAIN THAT THAT'S WHERE THE GROWTH WAS MAINLY COMING FROM. IS BENEFICIAL TO THINK THAT THAT'S MORE SUSTAINABLE THAN ANYTHING. YOU KNOW THE ONE TIME STUFF COMING FROM OTHER DIRECTIONS OF ITS AUDIT COLLECTIONS. WHATEVER IT MAYBE YOU'RE DOING A HELL OF A JOB. I APPRECIATE THAT. OTHER QUESTIONS. ENTERTAINING MOTION MOTION ON THIS MOVE TO ACCEPT THE FINANCIALS AS PRESENTED BY, UM, CHANCE FOR BOTH MONTHS, RIGHT? UH HUH. MOVE. HOWEVER I NEED TO DO THAT QUICKER BUYING THEM. YEAH, WE CAN. APRIL AND MAY SECOND. WE HAVE A MOTION BY FOOD. I DON'T KNOW WHO DO YOU WELL, I KNOW, BUT. YOU ACTUALLY GET THE BUTTON? WERE YOU SITTING BUTTON IS HIT FROM THERE YOU GO. BY THE TIME WE HAVE TO START LOOKING AT THE SCREEN BECAUSE IT'S LIKE A BIG RACE TO USE THE TECHNOLOGY. SO WE HAVE A MOTION BY MR CLEARLY A SECOND, MR CAIN. CAST YOUR VOTES. LIKE WE'RE DOING ALL THE WORK DOWN HERE, BUT THAT'S ALL RIGHT MOTION PASSES. IF YOU LOOK. AS YOU RAISE YOUR HANDS, OKAY? RIGHT? SO NEXT WE HAVE 21 OH, 510 CONSIDERED EXCESS

[Consider/Discuss/Act on MEDC FY22 Budget.]

PROPOSED BUDGET FOR 2022. IT. WE HAVE A VERY STRONG UH, FINANCIAL OUTLOOK. LOOKING FORWARD FROM WHAT CHANCE JUST PRESENTED OUR OUR SALES. TAX REVENUE LOOKS STRONG, AND WE'VE PREPARED A BUDGET THAT MEETS ALL THE. OBJECTIVES AND GOALS OF OUR ORGANIZATIONAL NEEDS FOR SPENDING AND WE'VE PRESENTED THIS TO THE FINANCE COMMITTEE FOR INITIAL REVIEW, AND, UM.

[00:30:07]

HIS FELLOW FINANCE COMMITTEE MEMBERS PAT INCURRED FOR HELPING OUT WITH THIS AND ALSO SINCERE, GOOD WORK FROM OUR STAFF. THIS WAS THE SMOOTHEST TIGHTEST. BUDGET PROCEDURE THAT I'VE BEEN THROUGH DURING MY TIME HERE WITH M E D. C SO OUR PROCESS CONTINUES TO IMPROVE AND AN ATTA BOY HAD A GIRL WAY AROUND FOR THE WHOLE TEAM. WHO DID THAT? UM SO IF WE CAN MOVE AHEAD JUST A LITTLE BIT. NEXT SLIDE. ALRIGHT SO TAKING A LOOK AT THIS YEAR'S FISCAL 22 BUDGET VERSUS THE PRIOR YEAR GETS A LITTLE MURKY BECAUSE OF COURSE, WE HAD TO MAKE SOME CONSIDERABLE ADJUSTMENTS TO THE CURRENT FISCAL YEAR BUDGET ANTICIPATION OF THE IMPACT OF COVID 19. SO ARE 21 FISCAL YEAR, 21 REVENUE BUDGET WAS REDUCED PRETTY SIGNIFICANTLY.

WHICH WAS A PRUDENT THING TO DO. COURSE. BUT THE GOOD NEWS IS, AS YOU HEARD EARLIER.

CURRENT YEAR TO DATE BASIS AND ON AN ESTIMATED FISCAL YEAR END BASIS, OUR REVENUES WOULD BE ABOUT 15% ABOVE. THAT BUDGET YEAR. THE BUDGET FOR FISCAL YEAR 21 SO IT WAS A GOOD MS OR LESS, BUT. AND SO THAT ENCOURAGED US TO LOOK AHEAD IN FISCAL YEAR 22 WITH A WITH A CONSERVATIVE, BUT YET SIGNIFICANT INCREASE IN OUR REVENUE BUDGET OF ABOUT 3.6% LITTLE MORE THAN 3.6. THAT'S IN KEEPING WITH OUR HISTORIC PRACTICE. ON THE EXPENSE SIDE.

WE HAD SOME FISCAL 21 BUDGET REDUCTIONS THAT WE TOOK AN ANTICIPATION. OF COURSE. SO THERE WAS REALLY THERE WAS NO TRAVEL. WE DIDN'T HAVE OUR TRADE SHOWS, TRADE MISSIONS, ET CETERA. AND ALSO THERE WERE SOME OPEN STAFF POSITION THAT WE'VE LEFT UNFILLED DURING THE CURRENT FISCAL YEAR. AND 22. WE'RE EXPECTING A RESUMPTION OF THAT ACTIVITY AROUND TRAVELS AND SHOWS AND MISSIONS, ET CETERA. WE CERTAINLY HAVE CHANCE TO INCREASE OUR PARTICIPATION AND SPONSORSHIP AT THE BYRON NELSON THIS TIME NEXT YEAR. AND WE'RE GOING TO RESTORE. THE UNFILLED POSITIONS THAT HERETOFORE EMPTY IN THE CURRENT FISCAL YEAR. LET ME STOP THERE AND SEE IF ANYBODY HAS A COMMENT OR QUESTION. JUST THE TYPICALLY ON THE BUDGET.

THEY. WE'VE BEEN BUDGETING 45% INCREASES YEAR OVER YEAR SO. GIVEN THE COVID IS ON, IT'S PRETTY MUCH ON ITS WAY OUT. AND JUST THIS IS MY OPINION. LIKE WOW, AGAIN. WHY IS THE 3.33 POINT? 6% YOU KNOW, TOOK THE ADVICE OF STAFF ON THAT. AND I THINK 3.6% MICHAEL IS PROBABLY A CONSERVATIVE NUMBER TO BE FAIR, AND WE WOULD PROBABLY EXPECT THAT NUMBER TO BE EXCEEDED. IT WOULD YOU KNOW, IT'S A IT'S A CONSERVATIVE ESTIMATE. TO BE SURE, THAT'S A POINT WELL MADE. ANY OTHER COMMENTS. LET'S MOVE AHEAD TO THE NEXT SLIDE. SO HERE'S A SUMMARIZATION OF THE BUDGET, A VERY HIGH LEVEL, AND THIS IS GROUPED TOGETHER A LITTLE DIFFERENTLY THEN YOU WILL SEE IN THE DETAILED BUDGET WHICH IS IN OUR PACKET, BUT I POINTED OUT TRY TO POINT OUT THREE CONSIDERABLE. LARGE BUCKETS OF CATEGORY HERE, SO OUR REVENUE ALL TIME HIGH, 17,000,006, AND THAT'S CONSISTENT WITH THE HISTORIC APPROACH, PLUS 3.6.

THE PERSONNEL CATEGORY. WE'RE UP ABOUT 3.5% OVER THE CURRENT FISCAL YEAR. THE LITTLE, UH, ADJUSTMENTS FOR BENEFITS AND THOSE KINDS OF THINGS THAT GO INTO THAT AS WELL AS RESTORING SOME OF THOSE POSITIONS THAT WERE UNFILLED IN THE CURRENT FISCAL YEAR. MARKETING PROMOTION $700,000 A BIG CHANGE IN THAT NUMBER. YOU'RE WONDERING WHY DOWN 46% IT'S THE WAY WE CHARACTERIZED THE POTENTIAL CONTRIBUTION TO THE SMALL BUSINESS COBEN RELIEF.

BUDGET THAT WE'VE PRESENTED LAST YEAR, SO THAT NUMBER HAS NOW BEEN REDUCED AND TAKEN OUT OF THE MARKETING AND PROMOTIONAL AREA. OTHER OPERATING EXPENSES ARE ALSO GOING TO BE DOWN ABOUT 27% OF THE CURRENT FISCAL YEAR. 2,000,066 SO ALL IN THE SUB TOTAL OF OUR OPERATIONAL EXPENSES A LITTLE OVER $3 MILLION, WHICH REPRESENTS ABOUT 17.3% OF OUR ESTIMATED FISCAL 22 REVENUE. WHICH KEEPS US VERY COMFORTABLY BELOW OUR INTERNAL BENCHMARK OF 20% APEX TO REVENUE AND ALSO CONTINUES TO COMPARE VERY FAVORABLY. WITH OUR PEER GROUP CITIES. SO ALL IN WITH AN INCREASE IN REVENUE. GOOD MANAGEMENT OF OUR OPERATING EXPENSES, A REDUCTION OF THE CURRENT FISCAL YEAR. WHICH ALLOWS US TO HAVE ALMOST $14 MILLION AVAILABLE FOR OUR INCENTIVES, ALL THE EXPENSES ASSOCIATED WITH THOSE IN SANTOS. SO THAT'S A VERY NICE, HEALTHY 79.4% OF OUR TOP LINE AVAILABLE FOR INCENTIVES AND FOR, UH RELATED THERE, TOO. WHICH GIVES US A MODEST. BUDGET SURPLUS OF ABOUT $600,000.

[00:35:05]

I'M GOING TO ASK MR KEANE AND MR CLAUDIA IF THEY HAVE ANY COMMENTS THEY LIKE TO ADD. I WILL. THANK YOU, MR SIPPY, OR AS YOU'RE THE ONLY LEGACY MEMBER ON THIS COMMITTEE AND YOUR LEADERSHIP HAS BEEN VERY MUCH APPRECIATED IN YOUR, YOU KNOW, DEEP PROFESSIONAL SKILL IN THIS AREA. SO, UH, YOU KNOW, I LIKE YOU WAS VERY IMPRESSED WITH THE STAFF AS WELL, THOUGH, BUT THANK YOU FOR YOUR LEADERSHIP ON THIS. MY PLEASURE, KURT. I GOT THE SAME.

TERM LEGACY MEANS LIKE OLD, DOESN'T IT? WELL YOU KNOW, TRY TO BE POLITICALLY CORRECT WHEN YOU GET THE MICROPHONE, RIGHT? APPRECIATE THANKS FOR THE KIND WORDS YOU GUYS ARE GREAT TO WORK WITH. PRESENTATION WELL, ANYTHING ELSE? OKAY SO ALL SAID AND DONE. THE FINANCE COMMITTEE RECOMMENDED THE BOARD ADOPT THE FISCAL YEAR 22 BUDGET AS DELIVERED PRESENTED. THANK YOU.

ANY OTHER QUESTIONS. ANY OTHER COMMENTS? I WOULD LIKE TO MAKE ONE ADDITIONAL COMMENTS CHAIRMAN. I WOULD LIKE TO, UH, GIVE A RECOMMENDATION RECOGNITION RECOGNITION SO I CAN'T TALK THIS MORNING. RECOGNITION AND, UH, THANKS TO THE CITY FINANCE DEPARTMENT.

YOU'LL YOU'LL SEE IN OUR ECONOMIC INCENTIVES AND RELATED EXPENSES BEING CLOSE TO $14 MILLION. THAT IS A DIRECT RESULT OF THEIR UM. REFINANCING OF OUR EXISTING DEBT LAST YEAR, THEIR DEBT SERVICE THAT GREATLY IMPROVED OUR CASH FLOW. SO THANK YOU FOR THE FORESIGHT AND THE HARD WORK THAT THE CITY FINANCE DEPARTMENT HELPS US WITH EVERY YEAR. TO CHANCE.

MARK HOLLOWAY AND THEIR TEAM MEANT ON ON REALLY HELPING US OPTIMIZE. YOU KNOW OUR BUDGET TO PERFORM THE BEST. I WILL ENTERTAIN A MOTION. WILL MOTION TO APPROVE THE BUDGET AS PRESENTED ALL SECOND. MOTION BY MR MISS SALLY SECOND BY MR CAIN. IT PROMOTES THE SCIENCE LEFT SIDE. OR JUST ONE. THE MOTION PASSES. I UNDERSTAND THE PUBLIC COMMENTS REGARDING ANYTHING THAT'S NOT ON THE AGENDA AS MEMBER IN THE AUDIENCE, I'D LIKE TO ADDRESS THE IMMEDIACY BOARD. ANY BOARD COMMENTS. I HAVE TO NUMBER ONE JASON BIRD, I BELIEVE WAS HIS

[BOARD COMMENTS]

THEY'VE GOT A LOT OF ADAPTABLE SPACES FROM YOU KNOW WHERE YOU CAN HAVE. 1000 PLUS SQUARE FEET TO HEY, I COULD JUST COME IN AND PLUG IN MY COMPUTER, AND THEY'RE ONLY REDOING THE FIRST TWO FLOORS RIGHT NOW. THE THIRD FLOOR THEY'RE KIND OF SAVING FOR FUTURE DEMAND OR A SINGLE USER. UM. TENANT THAT WOULD NEED ROUGHLY 20,000 SQUARE FEET. BUT JUST A REMARK THAT IF FOLKS NEED OFFICE SPACE THAT'S A GOOD PLACE TO GO LOOK, AND THEY DID SAY THAT THEY HAVE A GREAT RELATIONSHIP WITH DANNY, PETER AND MADISON. SO THANK YOU FOR YOUR WORK ON THERE, BUT I THINK THAT'S AN IMPORTANT PIECE OF THE PUZZLE HERE IN MCKINNEY COMING UP. NOBODY ELSE. RIGHT.

[EXECUTIVE SESSION]

[ACTION ON EXECUTIVE SESSION]

[00:40:03]

ALL IN FAVOUR CHARACTER VOTES OR WHATEVER. AND IF YOU DON'T. ARE IN FAVOR. STAY AS LONG AS YOU WANT. MHM WE'RE ADJOURNED. THANK YOU ALL. REAL ESTATE. DO WANT IT HASN'T

* This transcript was compiled from uncorrected Closed Captioning.