[CALL JOINT MEETING TO ORDER]
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GOOD EVENING. WE'RE GOING TO CALL THIS MEETING TO ORDER IS A JOINT MEETING TOURS. TWO ENTERS ONE BOARD REGULAR MEETING CITY COUNCIL CHAMBERS TO 22 NORTH TENNESSEE STREET IN THE GREAT CITY OF MCKINNEY. TODAY IS TUESDAY, JUNE 21ST, AND IT IS 5 16 UM. FIRST
[Presentation on the First Amended Interlocal Agreements by and between the City of McKinney, Texas, and Collin County, Texas, Respectively by and between the Tax Increment Reinvestment Zone Number One (TIRZ1) and the Tax Increment Reinvestment Zone Number Two (TIRZ2)]
ORDER OF BUSINESS IS 2 TO 0557 PRESENTATION ON THE FIRST AMENDMENT IN LOCAL AGREEMENTS BY AND BETWEEN THE CITY OF MCKINNEY , TEXAS, IN COLLIN COUNTY, TEXAS, RESPECTIVELY. BY AND BETWEEN THE TAX INCREMENTAL REINVESTMENT ZONE NUMBER ONE AND THE TAXING INCREMENTAL REINVESTMENT ZONE NUMBER TWO. GOOD EVENING. I AM NOT VERY SHELTON, WHO WAS ABOUT TO SAY VERY COULD NOT BE HERE THIS EVENING. HE ASKED ME TO STEP IN AND HIS PLACE AND I WILL ATTEMPT TO HIT THE HALF POINTS FOR YOU GUYS TONIGHT. SO MCKINNEY HAS TWO DISTINCT TOURS. YES, JUST SECOND. ABSOLUTELY. I UH, MEETING OF TOURIST NUMBER ONE WILL HAVE THE GUY WHO'S IN CHARGE. IT'S 5 31, AND WE'RE TO NORTH TENNESSEE'S CAN IN TEXAS. AS WELL. I'M GOING TO CALL ON TURKEY TO AH, AT 5 31, AND WE'RE AT 2 TO 2 NORTH TENNESSEE MCKINNEY, TEXAS. THANK YOU FOR ALLOWING ME TO DO THAT. AND I REALIZED TOO, ON OUR CLOCKS. WE HAVE 5 18 PERIOD IS ACTUALLY 5 32 AS YOU STATED OUR SCREENS ARE INCORRECT UP HERE. JUST NOTICE. TO DEPART. SO. ONCE AGAIN. I'M HERE TO TALK ABOUT THIS ITEM, SO I WILL GO THROUGH VARIOUS PRESENTATION. I WILL ATTEMPT TO DO IT ABOUT 50% OF WHAT I'M SURE BARRY WOULD HAVE DONE FOR YOU GUYS TODAY. MCKINNEY HAS TWO DISTINCT TOUR ZONES, AND I WANT TO TALK A LITTLE BIT ABOUT THE HISTORY OF EACH AND MAYBE HAD A LITTLE ABOUT THE FUTURE OF BOTH TURNS. ONE WAS FORMED IN 2000 AND 10 AND ENCOMPASSES ABOUT 950 ACRES IN AND AROUND MCKINNEY'S TOWNS, UH, CAN TOWN CENTER AND ALSO ALONG HIGHWAY FIVE FROM 3 82 THE SPUR 3 99. U. S 75 INTERCHANGE. IT WAS ORIGINALLY CONSTRUCTED FOR A 30 YEAR TIME PERIOD. IN NOVEMBER OF 2010, THE CITY IN COLLIN COUNTY ENTERED INTO A NARROW LOCAL AGREEMENT WHEREBY THE COUNTY WOULD CONTRIBUTE AT ABOUT 50% OF THEIR INCREMENT IN THE DISTRICT. AND COLLIN COUNTY'S PORTION IS LIMITED AND EXPENSES TO TRANSPORTATION AND TRANSPORTATION INFRASTRUCTURE. SO WITH MAJOR PROJECTS PLAN JUST EAST OF HIGHWAY FIVE IN THE SQUARE PLAN IS THE CITY'S INTEND TO ISSUE DEBT THIS SUMMER ABOUT $16 MILLION IN TERMS OF REVENUE BONDS. THIS DEBT WILL HELP PAY FOR THE CONSTRUCTION OF A NEW CITY HALL AND PORTIONS OF EAST VIRGINIA AND THROCKMORTON STREET. TO HELP FACILITATE THE ISSUANCE OF THESE BONDS WERE PROPOSING A FIRST AMENDED IN OUR LOCAL AGREEMENT FOR TURNS ONE. THIS WILL EXTEND THE TOURS TO 2055 ALLOW THE US TO POSSIBLY ISSUE 30 YEAR REVENUE BONDS. UM THE AFOREMENTIONED REQUIREMENT FOR COUNTY FUNDS TO BE ONLY USED FOR TRANSPORTATION IMPROVEMENTS , AND IT WOULD REMAIN IN PLACE IN THE OVERALL INTER LOCAL AGREEMENT. SO BARRY HAD SOME PRETTY PICTURES HERE. YOU CAN SEE THIS IS SOME OF THE PLANS FOR ACROSS HIGHWAY FIVE FOR THE NEW CITY HALL AND THE STREETS AND ROADS AROUND THAT, SO THIS IS WHAT WE'RE TALKING ABOUT, POSSIBLY ISSUING SOME DEBT THIS LATER THIS SUMMER FOR. SO MOVING ON INTEREST TO WAS ALSO FORMED IN 2000 AND 10. IT ENCOMPASSES A LOT MORE, IT'S ABOUT 3617 ACRES IT'S IN AND AROUND MCKINNEY NATIONAL AIRPORT. WE CALL IT THE AIRPORT TOURS. IT WAS ORIGINALLY CONSTRUCTED FOR THE SAME 30 YEAR TIME PERIOD IS TURNS ONE. AND ALSO IN NOVEMBER OF 2010, THE COLLIN COUNTY ENTERED INTO ANOTHER IN A LOCAL AGREEMENT THAT WOULD CONTRIBUTE SET THEIR CONTRIBUTION OF INCREMENTS 50% AND ALSO WITH THE SAME AS TEARS.ONE PORTION IS LIMITED TO TRANSPORTATION AND TRANSPORTATION INFRASTRUCTURE.
THE AS FAR AS 32 GOES. THE CITY IS NOT CURRENTLY PROPOSING THE ISSUE IN THE REVENUE BONDS FROM THIRST TO PROCEEDS. TO MATCH THE ACTION TAKEN ON TOURS ONE AND ALLOW FOR THE POSSIBILITY OF 30 YEARS NOTES TO BE EXTENDING THE FUTURE WHERE ALSO CONTEMPLATING EXTENDING THIS AGREEMENT BY 15
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YEARS AS WELL. ONCE AGAIN REMAINING THE COUNTY'S PORTION REMAINING, UH FOR TRANSPORTATION. AS WELL. BARRY HAS SOME PRETTY PICTURES OF THE AIRPORT HERE MENTIONED SOME OF THE IMPROVEMENTS THAT HE HAS SHOWN HERE THAT ARE COMPLETED. SOME OF THEM ARE ONGOING, AND SOME OF THEM HAVEN'T EVEN BEGUN YET, BUT I DO SEE THE CORP. TIN HANGER NEW FBO TERMINAL THAT IS UNDER CONSTRUCTION TAXI LANE, A RELOCATION AND A FUTURE CUSTOMS BUILDING, AND ALSO THE COURSE THE EXTENSION OF THE RUNWAY WHICH IS A VERY BIG PROJECT THAT WE HAVE. AH, PLAYING FOR THE FUTURE OF THE AIRPORT. SO FOLLOWING ANY ACTION TONIGHT BY BOTH BOARDS AMENDED AGREEMENT WOULD BE FORWARDED TO COLLIN COUNTY FOR ACTION AND THEN RATIFIED BY THE MCKINNEY CITY COUNCIL. AND AS ALWAYS, BEFORE THE ISSUANCE OF ANY REVENUE BONDS. UM TURNS UP THAT THE CITY COUNCIL WOULD APPROVE A BOND PARAMETER ORDINANCE. PART OF THAT PROCESS, THE TERMS ITSELF WOULD RECEIVE A RATING AND ITS CREDIT CREDIT WORDS IN THIS WOULD BE AFFIRMED BY RATING AGENCY. SO WITH THAT, I'LL BE HAPPY TO TAKE ANY QUESTIONS OR MARK. YOU SAID THAT THE INTERNS ONE WE'RE ANTICIPATING ISSUING 30 YEAR BONDS FOR 16 MILLION REVENUE BONDS. DID I UNDERSTAND THAT CORRECTLY, CORRECT. WHAT IS THE REVENUE GOING TO COME FROM? REVENUE COMES FROM THE INCREMENT THAT GOES INTO THE TOURS, WHICH IS PROPERTY TAXES AND SALES TAXES. CITIES PORTION OF THE TOURS INCREMENT. WOULD THAT WOULD GO TOWARDS THE CITY OF REVENUE BONDS, AND I'M OBVIOUSLY BEING INCORRECT HERE. I THINK OF REVENUE GENERATED BY WHAT THE GUYS ARE BUYING. BUT THAT'S NOT THE CASE. IT'S TAX REVENUE. CORRECT IT WOULD BE TAX REVENUE, BUT IF WE COULD PLEDGE PUT REVENUE BONDS BECAUSE WE COULD POSSIBLY PLEDGE SINCE OUR PORTION IS SOME OF IT COMES FROM SALES TAX. WE COULD HAVE A REVENUE PORTION COLUMN REVENUE BONDS, BUT IT WOULD BE MOSTLY A PROPERTY TAX GENERATED BONDS LIKE A GEO BOND TO ME, BUT IS THAT NOT WHAT WE CALL IT? BECAUSE IT'S A TOURIST. IT CAN'T BE BECAUSE WELL, BECAUSE THERE WILL BE COULD BE A SALES TAX PORTION TO IT, BUT ALSO BECAUSE OF THE DIFFERENCES BETWEEN WHAT THE COUNTY COULD PAY THEIR BET, TOO, AND IT WORKED WITH WORK A LOT THE SAME. THE RATES WOULD BE ABOUT THE SAME EXCEPT FOR THE TOURS WOULD HAVE TO BE RATED ON ITS OWN CREDITWORTHINESS. IT WILL NOT FALL UNDER THE CITY'S GENERAL GENERAL OBLIGATION BOND RATING, WHICH IS TRIPLE A IT WOULD HAVE TO STAND ON ITS OWN MERIT AND ITS OWN REVENUES. SO IT DOES MOODY WRITTEN MOODY'S RATED F. WE'RE PROBABLY LOOKING AT ONE RATING INSTEAD OF TO PROBABLY GO WITH S AND P WHO, UH, WHAT S AND P WOULD RATE THIS CREDIT AND IT WOULD HAVE ITS OWN WRITING. SO ARE WE. WOULD WE ANTICIPATE A TRIPLE A OR DOUBLE A WOULD BE IT WOULD BE LOWER. IT WOULD STILL BE WHAT I WOULD SAY INVESTMENT GRADE INVESTMENT GRADE TRIPLE BEER, PROBABLY A SO IT'S JUST NOT AS ESTABLISHED INTEREST RATE. WHEN WE EXPECT TO PAY, YOU WOULD BE RIGHT NOW LOOKING AT ABOUT 15 BASIS POINTS HIGHER UNDER THOSE, SO WE'RE THAN WHERE WE ARE RIGHT NOW, WHICH IS A LITTLE UNDER 4% I WOULD SAY WE'RE GOING TO BE AT 4 4.5. BY THE TIME WE GET TO ISSUE THESE BONDS, ESPECIALLY WITH THE 75 BASIS POINTS THAT WE JUST INCREASE THAT WE CHOSE CULPABLE. YOU CAN SET THE CALL DATE FOR WHENEVER YOU WANT. WE COULD CONSIDER DIFFERENT DATES. IF YOU WERE LOOKING FOR AN EARLIER CALL . WE GENERALLY CALL IT 10 YEARS, THOUGH, SO TYPICALLY, I'M NOT A BIG FAN OF SO IF WE APPROVE IT, CAN WE ISSUE IT OR DO WE HAVE TO GO TO THE VOTERS KNOW YOU CAN ISSUE THESE? THIS WILL BE ISSUED AS C. E O S, UM, CERTIFICATES OF OBLIGATION. HOW LONG WOULD IT TAKE TO ISSUE THESE BONDS? WE COULD DO THAT WITHIN PROBABLY 60 TO 90 DAYS OF THE WE HAVE ALREADY STARTED LOOKING AT THIS ISSUE ONCE, SO, YOU KNOW THE WHEELS ARE SORT OF IN MOTION TO BRING A PARAMETERS ORDINANCE. HOW LONG DO WE ANTICIPATE BEFORE ALL THE MONEY IS SPENT? UH THE WE ARE LOOKING AT AT AT BRINGING IN ALL OF OUR FUNDS FOR CITY HALL, SO I NEED TO HAVE CAPITAL STACK FOR CITY HALL BUILT BEFORE WE CONTRACT THAT AND I'M ASSUMING WE'RE GOING TO CONTRACT THE CONSTRUCTION OF THAT SOMETIME IN SEPTEMBER. UM AND I WOULD NEED A CAPITAL I HAVE ON MY BOARD UPSTAIRS AT THE CAPITOL. STAG NEEDS TO BE READY BY OCTOBER ONE OF THIS YEAR. SO YOU KNOW, I'M NOT A FAN OF ISSUING IT ALL UP FRONT AND STUFF LIKE THAT. WITH INTEREST RATE ENVIRONMENT, I IT MIGHT BE THE WISEST THING. ABSOLUTELY.THANKS. WE WILL. WE WILL BE MOVING THIS SUMMER TO ISSUE THAT DEBT. BUT WE WOULD WE DO NEED TO GET THIS. THIS DOESN'T DETERMINE THE CALL. WE CAN WE CAN WE CAN NEGOTIATE THAT. AS PART OF, UH YOU KNOW, SOME SOME WILL GIVE YOU YOU HAVE TO PAY A LITTLE HIGHER INTEREST RATE. IF YOU WANT TO RECALL, WE'VE ACTUALLY STRUCTURED DEBT THAT WAY WITH A WITH A VERY EARLY CALL, UM, SO
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WE COULD POSSIBLY PAY THAT OFF WITH IN ONE YEAR WE ENDED UP REFINANCING THAT VERY QUICKLY, BUT THERE WAS ONE TIME WE DID DO THAT FOR ONE YEAR CALL, SO WE CAN NEGOTIATE WITH THE FIVE YEAR RIGHT NOW IN THIS ENVIRONMENT FOLLOWING SUFFICIENT AND ADEQUATE. SO WE'LL LOOK AT PUTTING THEM IN. WHAT WOULD YOU KNOW IF YOU IF IT WAS EXTENDED OUT, 30 YEARS, WHAT'S THE YEARLY PAYMENT? ROUGHLY JUST A GUESS WE DON'T KNOW WHAT IT WOULD RIGHT. SO LET'S SEE 16. LET ME. ONE I CAN'T DO IT ALL IN MY HEAD. I'M JUST TRYING TO FIGURE OUT WHAT THE IMPACT TO THE CHURCH WOULD BE UNDER YEARLY BASIS. LET'S SEE 16 ABOUT A LITTLE OVER A MILLION DOLLARS. IT WOULD BE. THAT'S WHAT I'VE GOT IT AT. UM THAT'S ON 20 YEAR NOTES. UH PROBABLY JUST A LITTLE UNDER A MILLION IF WE DO 16 MILLION BUT INTEREST RATES ARE GOING UP SO IT COULD BE BUT A MILLION DOLLARS IS A GOOD ESTIMATE. RIGHT NOW WE'RE ESTIMATING REVENUES FOR FISCAL. YOU'RE 22 TO BE ABOUT $4.2 MILLION IN THAT TOURIST. SO, UH, THAT WAS IT'S ABOUT 25% OF THIS YEAR'S REVENUES, BUT I DO ANTICIPATE, UH, FISCAL YEAR 23 REVENUES TO BE MORE MORE IN THE LINE OF 567% INCREASE FOR THAT, SO WE ARE SEEING GOOD GROWTH IN OUR TOURS. IT'S BECOMING ESTABLISHED. UH AND THIS WOULD NOT PUT IT UNDER, UM THAT MUCH PRESSURE SO I DON'T FEEL LIKE WE WOULD BE OVEREXTENDING ITS $16 MILLION A COUPLE OF COMMENTS FROM ME. I GENERALLY DON'T. LIKE NON VOTER APPROVED DEBT IN THIS WAY. IT IS DONE WITH TENDER AT THE COUNTY TEND NOT TO DO IT AT ALL. UNLESS WE HAVE, LIKE A SINCERE REASON FOR IT, BECAUSE MAYBE I N S HAS BROUGHT IN TOO MUCH, AND WE HAVE TO FIGURE OUT A WAY TO ACTUALLY USE SOME OF THE INS DOLLARS THAT ARE COMING IN. BUT IT IS IN THE PROJECT PLAN, SO I MEAN, IT'S VALID. IT'S ACTUALLY THE NUMBER ONE ON THE PROJECT PLAN, NOT NOT IN THE SAME LOCATION, BUT THE PROJECT PLAN. DOES LISTED. I WOULD LOVE FOR US AS A TOURIST BODY TO ACTUALLY SIT DOWN AND MAYBE EVEN HAVE A WORKSHOP TO TALK ABOUT. YOU KNOW HOW TO ALLOCATE MONEY AND YOU KNOW, KIND OF WHERE THE FUTURE OF THE TOURISTS GOING, AND I THINK IT'S DOING A GOOD JOB. I'M AMAZED THAT MCKINNEY DID 100% ON THE TOURS. BECAUSE YOU KNOW NOTHING THAT WE'RE DOING INSIDE THE TOURS TO ACTUALLY IMPROVE INSIDE THE TERRORISTS ONLY FEEDING ITSELF BECAUSE NONE OF NO ACTION THAT WE TAKE THE TOURS. IS GENERATING BACK TO OUTSIDE BECAUSE IT'S 100% OF THE. THERE ARE SOME SECONDARY BENEFITS THAT HAPPEN OUTSIDE, BUT UM, YOU KNOW, I WOULD. I WOULD ALMOST PREFER TO SEE UH, CONTRIBUTION THE INCREMENT. ON THE CITY SIDE GO DOWN A LITTLE BIT, RETURNED SOME OF THE MONEY OVER TO THE CITY SIDE THAT WAY THE CITY CAN USE IT'S BETTER RATING TO GET BETTER INTEREST RATES IN THE FUTURE. OBVIOUSLY THAT'S NOT GOING TO AFFECT THIS RIGHT NOW. BUT JUST SOME RELATED THOUGHTS. WITH THAT MARK WITH THAT? WOULD THAT ACTUALLY TO INCREASE OUR ALREADD INCREASE RATINGS AT THIS POINT, BUT IT WOULD INCREASE. UH CAPACITY IF YOU INCREASE CAPACITY WERE TRIPLE A G O NOW, SO THE SOURCE IS STILL THE SAME.CORRECT YEAH, YOU'RE ALREADY AT THE BEST. I MEAN, EXACTLY. YOU'RE AT THE BEST RATE, WHICH WAS INCREASED CAPACITY SIDE. VERSUS HAVING THE TOURS B, YOU KNOW, LESSER LESSER RIGHT? YOU'RE SAYING IT'S ONLY 15 BASIS POINTS, RIGHT? I'M ASSUMING FIT SOMEWHERE IN THE 15 BASIS POINTS AREAS, BUT BUT AS LONG AS WE'RE INVESTMENT GRADE, WHICH WOULD BE TRIPLE B OR A WOULD SAY 15, MAYBE 20 BUT SOMEWHERE IN THERE AS YOU STATED IT IS ON THE PROJECT PLAN, AND THAT'S. BASED ON THE FACT THAT THIS IS SOMETHING THAT IS IN THE PROJECT PLAN. AND ESPECIALLY THE SPEED TO ACTUALLY GET IT DONE. I WOULD BE MORE FORWARD. I EVEN HAD ASKED PREVIOUSLY INSIDE THE COUNTY ON ACCELERATING SOME OF OUR BONDS. WE ALREADY HAD AUTHORIZATION FOR, YOU KNOW, IN ANTICIPATION OF INTEREST RATES GOING UP A COUPLE OF POINTS. UNFORTUNATELY, WE'RE. WE DON'T HAVE ENOUGH ACTIVE PROJECTS READY TO GO TO BE ABLE TO CONSUME THE DOLLAR SO YOU COULD DIRECT THEM OVER TO HERE. THAT'S RIGHT. TAKE THEM, TAKE THEM AND AVOID THIS. WE DID. WE DID APPROVE YESTERDAY A CALL FOR PROJECTS FOR ROAD PROJECTS. I'M PROBABLY FOR THIS PROJECT. I AM
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NOT I AM NOT NECESSARILY FOR THE EXTENSION OF 30 YEARS, THOUGH, ON THE TERRORISM THAT'S JUST MY OWN PERCEPTION, AND I DON'T KNOW IF THE REST OF THE COMMISSIONER'S COURT IS GOING TO BE THERE, EITHER. WHAT WOULD WHAT'S THE FALLBACK? IS IT TO GO TO 20 YEAR? 20 YEAR, I WOULD HAVE TO BE LESS THAN 20 YEARS. AT THIS POINT. WE HAVE TO CUT THAT DOWN TO PROBABLY 17, OR 18 YEAR DEBT WHEN IT DEFINITELY CHANGED THE DEBT STRUCTURE. UM WOULD PUSH IT WOULD PUSH OUR TIMES COVERAGE DOWN QUITE A BIT . I WOULD HAVE TO PROBABLY TALK TO OUR FINANCIAL ADVISOR AND GET DIFFERENT, DIFFERENT DEBT STRUCTURE. BUT THE WAY THAT THE WAY WE HAD STRUCTURED IT. THE 16 MILLION FOR NOW HAD BEEN THE 30 YEARS TO MAKE SURE WE WERE NOT IMPACTING THE TOURS TO NEGATIVELY FOR DEBT SERVICE COVERAGE FROM THE FROM THE COUNTY PERSPECTIVE. I MEAN, IT'S ONLY OUR LITTLE PORTION, IT WOULD BE UNPRECEDENTED FOR US TO GO. UP TO THAT TOTAL LENGTH OF TIME FOR A TOURS. WE RECENTLY DID WANT FOR AN AREA THAT'S TRULY BLIGHTED AND NEEDED SOME REDEVELOPMENT WORK, AND IT WAS ONLY EXTRA FIVE YEARS, SO. CHARLIE. WHAT DO WE DO? WE UM IT'S JUST PRESENTATION PRESENTATION. THIS SECTION. CHOICE TO VOTING ON. MY UNDERSTANDING. CORRECT ME IF I'M WRONG. OTHER THAN ANYONE SIGNED UP FOR PUBLIC COMMENTS. WE WILL.FOR THE JURORS TO BORDERS CONCERNED. IF THERE IS ANYONE HERE WHO WOULD LIKE TO SPEAK TO THE TERMS TO BOARD ON ANY ITEMS , WHETHER THEY'RE ON THE AGENDA OR NOT. NOW IS YOUR TIME. PLEASE COME FORWARD. DO NOT SEE THAT ANYONE IS REGISTERED TO SPEAK. SO WE'LL MOVE ON ANY BOARD AND MEMBER COMMENTS. DOING NONE. TAKE A MOTION TO ADJOURN THIS MEETING. SO I CAN CALL IT BACK INTO SESSION SHORT. MOTION TO ADJOURN. ALL IN FAVOR BY POSED. UNANIMOUS. WE'RE ADJOURNED.
MAYOR. CULTURES TO MEETING TO ORDER. ARE WE READY, JOSH? TO SEE THE COUNCIL PORTION OF THE JOINT. UM NO. IT WAS JUST A BETWEEN TWO TOURIST MEETINGS, SO WE NEED TO JUST CALL TOURIST TO MEETING TO ORDER. PROTECTION. VERY GOOD. WELL, CALL THE ORDER THE MEETING OF CHURCH TO 5 48 2
[CALL TIRZ2 MEETING TO ORDER]
TO NORTH TENNESSEE. FIRST ITEM OF BUSINESS WILL BE ANY COMMENTS ON ANY AGENDA ITEMS. I DO NOT HAVE ANYONE LISTED IF ANYONE WOULD LIKE TO SPEAK ON ANY OF OUR AGENDA ITEMS PLEASE COME[Conduct a Public Hearing and Consider/Discuss/Act on a First Amended Interlocal Agreement by and between Reinvestment Zone Number Two, City of McKinney, the City of McKinney, Texas, and Collin County, Texas]
FORWARD AT THIS TIME. SEEING NONE WILL MOVE ON TO THE FIRST ITEM. 22 GUYS 0002 JACK TURDS, CONDUCTED PUBLIC HEARING AND CONSIDER DISCUSS ACT ON A FIRST AMENDED INTER LOCAL AGREEMENT BY BETWEEN REINVESTMENT ZONE NUMBER TWO CITY OF MCKINNEY, THE CITY OF MCKINNEY, TEXAS, IN COLLIN COUNTY, TEXAS. ALL THE WAY ON RECHARGE EVERYTHING YOU JUST SAID. I WILL NOT GO BACK THROUGH THE PRESENTATION AGAIN. BUT THIS ITEM WOULD ALLOW US TO ACTUALLY CALLED PUBLIC HEARING AND THEN MOVE FORWARD WITH THE SENDING THE ITEM TO COLLIN COUNTY. VERY GOOD. THIS IS THE PUBLIC HEARING IF THERE'S ANYONE HERE WHO WOULD LIKE TO COMMENT ON THE MATTER? PLEASE COME FORWARD AT THIS TIME. SAYING KNOWN ALL CONSIDER EMOTION. MOTION TO CLOSE THE PUBLIC HEARING AND ALSO APPROVED THE ITEM. ALL CIRCUIT. OCEAN BRAND MERIT TO YOU CLOSE PUBLIC HEARING AND APPROVED THE AUTUMN SECOND BAR COUNCILMAN FRANK ON FAVOR. PLEASE INDICATE MY SAYING ON HIGH POSED NO MOTION PASSES.[Minutes of the Tax Increment Reinvestment Zone Number Two (TIRZ2) Board Meeting of May 3, 2022]
SECONDLY ON OUR AGENDA, WE HAVE 22 0558 MINUTES OF TAX INCREMENT REINVESTMENT ZONE NUMBER TWO BOARD MEETING OF MAY 3RD 2022. I BELIEVE THAT'S A CONSENT ITEM IF ANYONE WOULD LIKE TO MAKE A[00:20:06]
MOTION ON THEIR BEHALF. MOTION TO APPROVE TARGET. OCEAN TO APPROVE THE MINUTES BY MIRA FULLER, SECONDED BY COUNCILMAN FRANKLIN ALL IN FAVOR. PLEASE INDICATE BY SAYING, I OPPOSE THE MOTION PASSES UNANIMOUSLY. DO NOT BELIEVE WE HAVE ANY ITEMS ON EXECUTIVE SESSION. IN THE CASE, I WOULD TAKE A WELL HANG ON. YEAH MOTION TO ADJOURN. MOVED SECOND. POACHING BY MARY FULLER , SECOND BY COUNCILWOMAN FELT HIS ALL IN FAVOR. ANY OPPOSED. THERE'S TWO IS OFFICIALLY ADJOURNED. WE WERE STILL IN SESSION ON TOURS, ONE HOWEVER. SO IF THERE'S ANYONE HERE WHO WOULD LIKE TO SPEAK TO A MATTER THAT'S ON THE TURNERS ONE AGENDA FOR THIS EVENING? PLEASE COME FORWARD AT THIS TIME. SAYING NONE WILL MOVE ON TO ITEM NUMBER 22 DOES 0001 PUBLIC HEARING[Conduct a Public Hearing and Consider/Discuss/Act on a First Amended Interlocal Agreement by and between Reinvestment Zone Number One, City of McKinney, the City of McKinney, Texas, and Collin County, Texas]
CONSIDERED DISCUSSED ACT ON A FIRST AMENDED INTER LOCAL AGREEMENT BY AND BETWEEN REINVESTMENT ZONE NUMBER ONE CITY MCKINNEY, THE CITY OF MCKINNEY, TEXAS, AND COLLIN COUNTY, TEXAS. HOLLOWAY WOULD YOU LIKE TO RE URGE YOUR PREVIOUS TUESDAY MINTS? I WOULD NOT. SO IF THIS THIS ONCE AGAIN WOULD SEND THE ITEM ONTO COLLIN COUNTY. VERY GOOD. IF THERE IS ANYONE HERE WHO WOULD LIKE TO SPEAK ON THIS ITEM? IT IS A PUBLIC HEARING. PLEASE COME FORWARD AT THIS TIME. SEEING NONE WILL MOVE ON TO ENTERTAIN A MOTION. MOTION TO CLOSE PUBLIC HEARING APPROVED THE SECOND OCEAN BOTTOM. ERIC FULLER, SECOND BY COUNCILWOMAN FILTERS ALL IN FAVOR. PLEASE INDICATE I WAS SAYING I OPPOSE MOTION PASSES UNANIMOUSLY. MOVE ON.ADAM 22 DOES EXCUSE ME. I SAID NO. I DON'T WANT A ONE. IT DID PASS, BUT I SAID NO BEST YOU SAY NO. YES RECORD REFLECT THAT. FROM AS HE ANSWERED. HAIL NEGATIVELY ANSWERED IF THERE WAS ANY OPPOSED, AND HE SAID NO. WHICH WOULD MAKE YOU ARE CORRECT. YOU'RE CORRECT. WAS CONFUSED. YOU WANT TO CLEAR UP THE RECORD, MR HALE? DO YOU WANT TO OPPOSE IT OR NOT? I AM VOTING. NO, THANK YOU. ALRIGHT ITEM. 22 DANCE 0559 CONDUCTED PUBLIC HEARING TO CONSIDER
[Conduct a Public Hearing to Consider/Discuss/Act on a Resolution Approving a Chapter 380 Economic Development Agreement and Project Plan for the 341 E Virginia Street, McKinney Metals Apartments Environmental Remediation Project]
DISCUSS, ASK AT DONNA RESOLUTION APPROVING A CHAPTER 3 80 ECONOMIC DEVELOPMENT AGREEMENT PROJECT PLAN FOR THE 3 41 EAST VIRGINIA STREET MCKINNEY MEDALS APARTMENTS. ENVIRONMENTAL REMEDIATION PROJECTS. ALL IN THAT. GOOD EVENING, EVERYONE. TONIGHT WE ARE BRINGING AN APPLICATION FOR A NEW CATALYST PROJECT HERE, ALSO EAST OF HIGHWAY FIVE. THE ADDRESSES 3 41 EAST VIRGINIA STREET. THIS PROJECT HAS HISTORICALLY BEEN KNOWN AS MCKINNEY MEDALS. IT IS WITHIN THE MCKINNEY TOWN CENTER , COLUMBUS PARK. PROPER MASK. COLUMBUS REALTY PARTNERS. ARE THE GROUP REQUESTING THIS TOURIST FUNDING. THEY ARE ASKING FOR $500,000. IT WILL BE TO COVER THE EXPENSES ASSOCIATED WITH THE REMEDIATION OF THIS PROPERTY. BIOREMEDIATION AM REFERRING TO THE ENVIRONMENTAL REMEDIATION THAT HAS TO OCCUR AT THIS SITE FOR NOW, 100 YEARS IT'S BEEN A SERIES OF MANUFACTURING PLANTS, METAL PLANTS AND GAS STATIONS, AND SO THEY'VE HAD TO DO SIGNIFICANT REMEDIATION TO THAT, SO FAR THEY'VE DONE THEIR ENVIRONMENTAL EVALUATIONS AND DEMOLISHED THE EXISTING BUILDINGS IN REMOVED ASBESTOS. AND THAT'S WHAT THIS FUNDING IS ASKING TO HELP COVER A PORTION THEREOF. AND THEN THEIR NEXT PHASE WILL BE TO WORK ON REMOVING CONTAMINATED SOILS AND REPLACEMENT WITH CLEAN SURFACES. WITH THE ULTIMATE GOAL OF BUILDING A MIXED USE PROJECT WITH OVER 4000 SQUARE FEET OF COMMERCIAL SPACE AND AROUND 333 129. I THINK RESIDENTIAL UNITS THERE ON THAT SITE, AND SO, UM, THEY HAVE PRESENTED THAT AND A STAFF IS RECOMMENDING APPROVAL OF THIS ITEM. I STAND FOR ANY QUESTIONS, AND THE APPLICANT IS HERE AS WELL. IF YOU HAVE THE IS THE MONEY FOR IF YOU CAN GO BACK ONE SLIDE, PLEASE. THE MONEY IS FOR PHASE TWO. PHASE THREE OR THIS COVERS BOTH PHASE ONE AND PHASE TWO, SO THEIR EXPENDITURES ON PHASE ONE AND PHASE TWO ACTUALLY EXCEED THIS AMOUNT. ABOUT THIS IS THIS WOULD BE A PORTION COVER A PORTION OF THAT AMOUNT. HOW MUCH IS THEIR AMOUNT? DO WE KNOW? LET ME[00:25:05]
DOUBLE CHECK THAT NUMBER. GET IN HERE. ST. COMMISSIONER HELL SAYING, 2.32 POINT FOUR TO ME, SO IT'S QUITE A LOT. OKAY? YEAH THIS PARTICULAR PORTION. I DON'T HAVE THAT NUMBER ON THE READY. SO IF I CAN ASK OVER TO OVER TWO MILLION, YEAH. I HAVE THE SATISFIED BETWEEN THE MAYOR AND COMMISSIONER. HELL, THANK YOU. THANK YOU. GO BACK TO THE SLIDE, PLEASE. THE OVERVIEW OF THE PROPERTY. THIS ONE. ALL THE WAY BACK. NO, I WENT THE WRONG WAY. SORRY. RIGHT THERE, RIGHT THERE. IS THERE A. WHERE IS THIS PROPERTY? HOW DOES IT RELATE TO THE PROPERTIES THAT WE'VE IDENTIFIED AND THE AND SURE, PARK PROJECT. YES. SO THE DECK PARK PROJECT SO THE DECK PARK PROJECT GET BACK TO THE CHECKPOINT PROJECT WOULD BE RUNNING FOR THE TUNNEL PROJECT WOULD BE RUNNING. YOU CAN WRITE ON THE SCREENING BETWEEN VIRGINIA AND LOUISIANA, BUT WE ARE IDENTIFIED A NUMBER OF PROPERTIES AGAIN. A NUMBER OF THOSE. YES WE DID. A NUMBER OF THOSE PROPERTIES ARE HERE ALONG THIS EDGE. UM, AND THEN HERE AND HERE AND THEN THERE'S A LITTLE BIT OF THIS PARCEL THAT MAY BE AFFECTED AS WELL. UM. WHERE THAT FALLS IN THE EXACT LINE OF THEIR COMMERCIAL PROPERTIES. NOT EXACTLY CLEAR BECAUSE IT WOULD DEPEND ON HOW MUCH OF THAT SPACE WE WOULD HAVE TO TAKE FOR THAT. DEPENDING ON HOW THAT ROAD WOULD COME THROUGH. I KNOW A LOT OF THOSE PROPERTIES ARE REALLY ON THE WEST SIDE OF THE PARCEL, WHERE WE'D BE DOING SOME KIND OF SOME ON RAMPS AND OFF RAMPS. IF WE WERE TO DO THAT, UNDERNEATH THE DECK, PART SECTION. AND WITH THE REMEDIATION WE REQUIRED OR THE PROPERTY IF PARK IS. YES YES , THE REMEDIATION WAS REQUIRED NO MATTER WHAT, BECAUSE OF THE NATURE OF WHAT WAS THERE BEFORE. KIM, DID YOU HAVE SOMETHING? DID YOU? YES. THAT THE DECK PARK DOES NOT INTERFERE WITH THE PROJECT ITSELF. THERE IT'S VERY CLOSE TO THE PROPERTY LINE ONLY FOR THE FEASIBILITY STUDY. THE DECK PARK CAN BE DONE WITH NO TAKING ONLY ITEM ONLY OPTION THREE WOULD HAVE BUT NOT NOT ONE OF NONE OF THEM IMPACT THIS PROPERTY. THE ONE THAT WE'VE WHEN WE WERE TALKING ABOUT THE DEAD 26 PROPERTIES THAT YES, BUT THIS ONE IT WAS A VERY MINOR. EXCUSE ME. IT WASN'T A FULL TAKING THERE COULD BE A SMALL TAKING, BUT IT WOULDN'T IMPACT THE PRIVATE DEVELOPMENT WOULD BE LIKE IT'S LIKE RIGHT ALONG THE EDGE. I THINK RIGHT NOW I DON'T EVEN KNOW IF IT'S THAT FAR. THERE WAS ONE SCENARIO WHERE WE COULD ACTUALLY DO THE DECK PARK WITH NO ACQUISITION ON THIS PIECE. IT JUST MEANT THAT THE SIDEWALK WAS REALLY, REALLY TIGHT. ALONG THAT OFF RAMP. THANK YOU. NO, THANK YOU. YOU HAVE THE MORE UP TO DATE ON IT. OTHER QUESTIONS OF FOLLOW MY ISSUE WITH THIS IS YOU KNOW? EVERYONE KNEW LIVED HERE LONG ENOUGH TO KNOW THAT THAT PROPERTY WAS CONTAMINATED WHEN HE BOUGHT IT. HE CAN. HE KNEW IT WAS CONTAMINATED WHEN THE PURCHASE PRICE PROBABLY HE GOT A DISCOUNT FOR, YOU KNOW, FOR BUYING IT WHEN IT COMES TO THE CITY AND SAYS, OH, I WANT A HALF MILLION DOLLARS TO HELP REMAINING MITIGATE THE PROPERTY , SO I WOULDN'T SUPPORT THIS.THIS IS THIS IS SOMETHING I MEAN, THIS IS AN INVESTMENT AND THEY WANT TO PUT APARTMENTS AND SO I'M HELPING BUILD, YOU KNOW, PUT APARTMENTS ON THE ON THIS PROPERTY AND THEY'RE GONNA MAKE PLENTY OF MONEY. I MEAN, SO WHY IN THE WORLD WOULD I GIVE THEM A HALF MILLION DOLLARS? SO I DON'T SUPPORT THIS AT ALL? OKAY UM, I WILL SAY THAT YOU KNOW, REMI AND ENVIRONMENTAL REMEDIATION IS ONE OF THE ITEMS THAT WE HAVE IN OUR POLICY PLAN FOR THE TOURS. UM, AND IT WOULD BE SOMETHING OBVIOUSLY, IN SMALLER AMOUNTS NOT ON THE CATALYST LEVEL PROJECT AMOUNTS. BUT IT WOULD BE IN SMALLER AMOUNTS ON ANY OF THE OTHER PROJECTS. SOMEBODY BUYS A PROPERTY AND THEY PAY $2 MILLION LESS FOR THE PROPERTY BECAUSE IT NEEDS REMEDIATION, AND THEN THEY COME BACK TO US HOW WE NEED SOME MORE MONEY. YOU KNOW, I MEAN, THEY GOT A DISCOUNT ALREADY BECAUSE OF THE REMEDIATION THAT WAS NECESSARY THAT THEY DIDN'T GET. THEY DIDN'T HAVE TO PLAY PAY FULL VALUE FOR WHAT WOULD HAVE BEEN PROPERTY THAT DIDN'T HAVE REMEDIATION. AND SO THAT'S MY ISSUE IS THAT UM, IS THAT I THINK THAT IT'S NOT WARRANTED UNDER THIS SITUATION. I THINK THE MATH THAT THEY'RE THEY'RE
[00:30:05]
PUTTING INTO ITS PROBABLY FORK SEED. WHAT THE DISCOUNT WAS THING GOT FOR IT. PLUS, IT'S ACTUALLY INCREASING THE VALUE THERE. YOU KNOW, ONCE IT'S REMEDIATED, THEY'RE GOING TO BE GOOD MIXED USE THERE. YES IT WON'T ALL THAT CAPTURED INCREMENT WON'T COME BACK TO THE CITY FOR A FEW YEARS, BUT IT IS GOING TO FLOW RIGHT BACK INTO THE TOURS AND THIS IS THIS IS I DON'T KNOW BEFORE IMPROVING REMEDIATE KEY LOCATIONS THAT HAVE SUFFERED FROM HISTORIC INDUSTRIALIZATION. THE DOLLARS ARE THERE SPECIFICALLY FOR THIS? THIS IS A VERY CLEAR IN VERY I THINK. ALMOST STEREOTYPICAL USE OF ACTORS AND WHAT IT WAS FOR. I MEAN, THIS IS A TRUE BLIGHTED AREA THAT THE DOLLARS I THINK THIS IS A REALLY GOOD USE FOR IT. I WOULD LIKE TO SEE MORE.USE LIKE THIS TO ACTUALLY IMPROVE THE ENVIRONMENT AND IMPROVE THE AREA ON THE EAST SIDE OF THE SIDE OF THE DOWNTOWN TOURISM. ANY OTHER COMMENTS AND QUESTIONS. THIS IS A PUBLIC HEARING IF ANYONE ELSE WOULD LIKE TO SPEAK TO THIS ITEM. HAS COME FORWARD. APPLICANT. HE'S COMING FORWARD. MR CHAIRMAN, MEMBERS OF TOURIST BOARD NUMBER ONE. I'M BOB ROEDER 1700 RED BUD SUITE 300 IN MCKINNEY ON BEHALF OF THE APPLICANT. UM I THINK, UT THE NAIL ON THE HEAD HERE. THIS IS GOING TO BE AN $80 MILLION PROJECT WHEN IT'S BUILT. UM IF NOTHING WAS DONE HERE, YOU WOULD HAVE A BLINDED AREA. THAT WOULD BE VERY DIFFICULT. I THINK TO SUPPORT CITY HALL RIGHT NEXT DOOR. AND SO YOU KNOW, THIS IS A MAJOR STEP. IN TERMS OF CLEANING UP THIS PART OF HIGHWAY FIVE.
WITH REGARD MR ROGERS TO YOUR COMMENTS, NO DOUBT THERE WERE NEGOTIATIONS THAT THIS WAS A DIRTY SIDE, BUT NOBODY KNEW HOW DIRTY IT WAS UNTIL YOU GET INTO YOUR FACE TO ENVIRONMENTAL AND AT THAT POINT IN TIME IT BEGAN TO WATER, OUR EYES THE REMEDIATION ON THIS PROPERTY.
THE TIME WE'RE DONE WITH SO REPLACEMENT, EVERYTHING WILL BE IN EXCESS OF $3 MILLION. SO WHILE THIS IS A SIGNIFICANT CONTRIBUTION THAT WE'RE ASKING FOR IT IN NO WAY IS CARRYING THE LOAD ON WHAT HAS TO GO THERE. AGON ASSURE YOU THAT THE ANY DISCOUNTS THAT MIGHT HAVE HAPPENED IN THE NEGOTIATIONS FOR THE SALE OF THE PRICE OF THE PROPERTY DID NOT ANTICIPATE THE $3 MILLION MEDIATION BILL. FURTHER TO THE COMMENTS THAT HAVE ALREADY BEEN MADE. THIS DOES FIT SQUARELY WITHIN YOUR CATEGORY FOR OKAY? CATALYST PROJECT IN THIS PART OF EATERS SO WE WOULD REQUEST YOUR FAVORABLE APPROVED. HAPPY TO ANSWER ANY QUESTIONS. ANY QUESTIONS? SO ARE YOU TELLING ME THAT YOUR CLIENT DIDN'T DO ANY DUE DILIGENCE ENOUGH TO GET EVEN BALLPARK? THREE MILLION BUCKS? WE ARE WE ABSOLUTELY DID. YOU DO DID DUE DILIGENCE. BUT YOU CAN'T CREATE ALL OF THE DUE DILIGENCE. YOU HAVE A SWAG OUT THERE, MR ROGERS IN TERMS OF WHAT IT IS BECAUSE WE'RE STILL GOING THROUGH THE TC EQ. TO GET PERMISSION ON OUR PLAN. WE COME UP WITH REMEDIATION PLAN. YOU PROBABLY KNOW THE DRILL. WE SAY TELL THE P C. Q WHAT WE THINK IT TAKES TO RE MEDIATE THE PROPERTY . THEY LOOK AT IT INVARIABLY IN MY EXPERIENCE, I DON'T KNOW THAT IT'S TRUE ACROSS THE BOARD. BUT IF WE WANT TO PUT MINERS WELL, THERE WANT US TO PUT 10.
THANK. ANY OTHER QUESTIONS THAT MR ROEDER MR BROOK. THERE'S ANYONE ELSE HERE WHO WOULD LIKE TO SPEAK TO THIS ITEM. PLEASE COME FORWARD. BEST BENTLEY. WELCOME TO THE PODIUM. HELLO? GOOD AFTERNOON AND JUST RECOMMENDATION THAT AS REDEVELOPMENT IS TAKING PLACE.
THINGS LIKE THIS ARE GOING TO COME UP AGAIN AND TO KEEP FROM REIMBURSING. BASED ON WHAT IS NOT KNOWN, PUT SOMETHING IN PLACE THAT ALLOWS THE TOURIST BOARD OR THE FUNDING THAT'S BEEN REQUESTED TO BE VETTED ON THE FRONT END AND NOT REIMBURSED BECAUSE THE RECEIPTS THAT WERE CITED IN THE LETTER THAT IS ATTACHED TO THIS ITEMS WERE NOT INCLUDED FOR AT LEAST FOR PUBLIC
[00:35:03]
VIEWING. AND THE SEC. THING IS THOSE THE COST FACTORS. WE DON'T KNOW WHAT WENT INTO THE ACTUAL COST FOR THE PHASE ONE AND PHASE TWO. AND SO THE CONTRACTOR KNOWS , BUT YOU ALL DON'T KNOW SO THE COSTS WHILE IT WAS 93% OF PHASE ONE AND PHASE TWO PERHAPS IT COULD HAVE BEEN 50% COST, AS OPPOSED TO ALMOST HALF A MILLION DOLLARS SO JUST TO PROTECT THE PUBLIC DOLLARS AND INFORMATION FOR, UM WHAT THE PUBLIC IS SPENDING JUST MAYBE PUT SOMETHING ON THE IN PLACE ON THE FRONT END JUST TO BE GOOD STEWARDS OF WHAT THE TAXPAYERS ARE PROVIDING. THANK YOU. IT. IS THERE ANYONE ELSE WHO WOULD LIKE TO SPEAK TO THIS ITEM? THING NONE ALL CALL FOR ANY FURTHER DISCUSSION BY MEMBERS OF THE BOARD. I THINK COUNCILMAN ROGERE GOOD POINTS. I MAY BE A BIT JADED, BUT I FULLY EXPECT THAT MR SHAW KNEW EXACTLY WHAT HE WAS BUYING AND NEGOTIATED DEAL THE BEST DEAL HE POSSIBLY COULD FOR CONTAMINATED LAND. I ALSO KNOW THE LAND IS CONTAMINATED AND WE NEED TO MOVE FORWARD WITH THIS, UM YOU KNOW, I THINK MISS BENTLEY MAKES AN OUTSTANDING POINT THAT WE OUGHT TO BE REIMBURSING THIS ON THE BACK END, THOUGH. YOU KNOW, ONCE WE SEE WHAT'S BEEN DONE AND GET IT DONE, UM SO I WOULD LIKE TO SEE THAT IN FUTURE THINGS TOO. I GUESS I WILL LAND ON AH! WE ARE WHERE WE ARE. I DO UNDERSTAND THAT. EXCEPT WHAT MR ROEDER SAID THAT THIS IS MILLIONS AND MILLIONS OF DOLLARS AND I ALSO UNDERSTAND THAT THE CITY IS NOT GOING TO HAVE ADVIL OR IN VALUE UNTIL WE GET THIS REMEDIATED. AH SO I'M A BIT OF A RELUCTANT SUPPORTER OF THIS. ANY OTHER COMMENTS. ENTERTAINING MOTION. MURDER PROOF. WAS A PUBLIC HEARING. ENCLOSED PUBLIC AREA. A SECOND. BOARD MEMBER HAIL. CHECKING HIM BY. BUT HE DID NOT HEAR YOUR SECOND APOLOGIES. THAT'S RIGHT. ON FAVOR OF THE MOTION. HI OPPOSED. I. ASIAN PASSES FIVE TO CORRECT. 62 IT'S ALRIGHT. THE CHAIR. BRIDE DID NOT VOTE SO IS NOT HERE. HE'S NOT ON THIS BOARD TERRORIST. MOVE ON TO NUMBER 22 DAYS. 0560 CONSIDERED DISCUSSED ACT ON AN[Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2021-2022 Annual Budget to Provide Funds for the Purpose of Environmental Remediation at 341 E. Virginia and 200 N. McDonald Street]
ORDINANCE AMENDING THE FISCAL YEAR 2021 2022 ANNUAL BUDGET TO PROVIDE FUNDS FOR PURPOSE. WE JUST DID THAT ONE. SORRY. 22 TO SHOW 561 MINUTE OF TEXT. YOU'RE RIGHT. WE HAVE TO DO A BUDGET AMENDMENT TO THAT. I'M SORRY. FINISH MY SENTENCE, THEN PROVIDE FUNDS FOR THE PURPOSE OF ENVIRONMENTAL REALLY REMEDIATION IN 3 41, EAST VIRGINIA 200 NORTH MCDONALDS STREET. GOOD. MILLER YES. GOOD EVENING. CHANCE. MILLER FINANCIAL COMPLIANCE MANAGER WITH APPROVAL OF THE PROJECT WILL HAVE TO MOVE FUNDS FROM FUND BALANCE TO BE ALLOCATED TO PAY OFF THE PROJECT AND I'LL STAND FOR ANY QUESTIONS FUND BALANCE AT THE TIME. AS OF TODAY IS CLOSE TO 7.5 MILLION WE PROJECTED ENDING THIS FISCAL YEAR AT NINE MILLION, SO YOU WOULD DEDUCT 500,000 FROM EACH OF THOSE ITEMS AND I'LL STAND FOR ANY QUESTIONS. I APOLOGIZE FOR MY ATTEMPTED EXCLUSION OF YOUR TEST. NO, YOU'RE FINE. THIS WILL ALSO GO TO CITY COUNCIL BEYOND THE CONSENT ITEMS, SO JUST UNDER FIVE ANY QUESTIONS OF MR MILLER. MOTION TO APPROVE SECOND. BUDGET AMENDMENT. BY SARAH FULLER SECOND BIND BOARD MEMBER L ALL IN FAVOR POSED IN UNDER THE MOTION PASSES[Minutes of the Tax Increment Reinvestment Zone Number One (TIRZ1) Board Meeting of May 3, 2022]
UNANIMOUSLY. HAVE GONE TO ADAM 22 DAYS 0561 MINUTES OF TAX INCREMENT REINVESTMENT ZONE NUMBER ONE BOARD MEETING OF MAY 3 2022 GO ON. COUNCIL MEMBER FILTERS TO ASK THAT WE TABLE THIS ITEM SAYING THAT THERE ARE NO MINUTES POSTED HERE. A SECOND, OKAY? AND WE APPROVE. I REMOVED THAT MOTION. I MOVE THAT WE APPROVED THE MINUTES SECOND. MOTION BY COUNCILWOMAN FILTERS, SECOND BLACK COUNCIL AND ROGERS ALL IN FAVOR. HIGH OPPOSED. ON THE MOTION PASSES UNANIMOUSLY.[00:40:09]
COMMENTS BY ANY BOARD AND COMMISSION MEMBERS. MAKE A MOTION TO ADJOURN. SECOND MOTION . BOND SECOND BY COUNCIL WANTED TO REITERATE THAT I WOULD LOVE FOR US TO HAVE, YOU KNOW, WORKSHOP. MAYBE EVEN TALK ABOUT SOME OF THE OTHER ITEMS THAT CAME UP ON, YOU KNOW, FUTURE REMEDIATION. PROJECTS AND YOU KNOW HOW TO PUT SOME CONSTRAINTS AROUND THAT. AS A POLICY OF SUPPORT THAT TOO. DIRECTED MOTION. DID YOU GET THAT MOTION, SO NO JUST CONSENSUS THAT WE SET UP A WORK SESSION. JOURNEY SHELTERS AND THEREFORE. ALL IN FAVOR. I OPPOSED* This transcript was compiled from uncorrected Closed Captioning.