Oct 18, 2022 McKinney Economic Development Corporation on 2022-10-18 8:00 AM

[CALL TO ORDER]

[00:00:05]

MORNING. THE TIME IS 802 A M. TODAY TUESDAY, OCTOBER 18TH 2022 , THIS IS THE MONTHLY MEETING OF THE MCKINNEY ECONOMIC DEVELOPMENT CORPORATION. PURSUANT TO TEXAS GOVERNMENT CODE SECTION 551. 0.0 TO A QUARTER OF THE CITY COUNCIL MAY BE PRESENT, NO CITY COUNCIL ACTION WILL BE TAKEN. THIS MEETING IS BROADCAST LIVE ON SPECTRUM CHANNEL 16 AND 18 T U VERSE CHANNEL 99. FIRST WE'RE OPEN UP WITH PUBLIC COMMENTS. SO I DON'T SEE ANY OUT THERE, SO

[Election of Officers]

ANYONE WILL NOMINATE KIRK TEEN I'LL SECOND THAT ALL RIGHT. ON THE FAVORITE. WE'LL JUST RAISE YOUR HANDS FOR RIGHT NOW. THEN HE GOES ON A FAVOR. PERFECT. CONGRATULATIONS, KURT. SURE GOOD JOKE. AND LAST WE HAVE OUR SECRETARY TREASURER. DELIBERATION OR MOTION FOR THAD TO BE THAT CAN YOU TAKE GOOD NOTES? SECOND OKAY. YOU GOTTA WORK THE CHECKBOOK, TOO. WAIT A SECOND. LOOK OUT! IT'S GONNA BE OUT OF BALANCE. ALL RIGHT, ALL IN FAVOR FOR THAT. ALL RIGHT.

THE SECOND. SECOND. PERFECT. SO, UM WILL CONTINUE ON WITH THE, UH, COMMITTEES BEFORE WE MOVE FORWARD. RIGHT NOW ON THE FINANCE COMMITTEE. WE HAVE, UH. JOE MENACE. ALI KIRK COON, AND WE HAVE ONE OPEN SPOT. AND, UH, INNOVATION FUND. WE HAVE THAT, UH, MYSELF, AND THEN ANOTHER. OPEN SPOT, AND THE MARKETING RIGHT NOW IS FILLED WITH KURT, JULIE WILLIAMS AND JOE MINNESOTA ALLEY AND REAL ESTATE IS THAT MYSELF AND BRIAN LOG, MILLER. I DON'T KNOW. DO YOU WANT TO DO WE WANT TO HOLD OFF ON THESE, UH, BRIAN AND LET YOU DECIDE FOR NEXT MEETING OR DID YOU WANT TO SUGGEST MARK? IN FINANCE COMMITTEE, OKAY? RIGHT? I WOULD SECOND THAT. BEEN

[00:05:05]

MARKETING AND REAL ESTATE. I'M JUST GONNA BLESS SOMEBODY DOESN'T WANT TO BE ON THOSE. LET ME KNOW NOW, BUT I'LL JUST KEEP THOSE THE SAME. I'M GOOD. I'M GOOD. ALRIGHT. NO MOVING ON US.

[CONSENT ITEMS]

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

THE LAKE IS ABOUT 40% FULL. SO IF YOU GO OUT THERE, YOU WOULDN'T NECESSARILY KNOW THAT YOU JUST SEE THE LAKE. BUT WHAT YOU REALIZE IT'S ABOUT ANOTHER 20 FT TO GO IN ELEVATION OF THE WATER LEVEL, SO THAT WAS ACTUALLY GREAT TO SEE WE'RE VERY HAPPY AND CONGRATS TO ALL OF US AS MEMBER COMMUNITIES OF THE WATER DISTRICT, AND, OF COURSE, THE WATER DISTRICT ITSELF. UH, ONE OR TWO ALSO, UH, NOTE THAT LAST WEEK LAST WEDNESDAY AND THEN AGAIN NEXT WEDNESDAY WILL BE THE SECOND MEETING LAST WEDNESDAY WAS THE FIRST MEETING. NEXT WEDNESDAY WILL BE THE SECOND MEETING OF THE BOND COMMITTEE. SOME OF YOU SERVE ON THE AIRPORT BOND COMMITTEE ASSISTANT CITY MANAGER BARRY SHELTON WHEN WE'VE GIVEN YOU A PRESENTATION HERE, MOMENTARILY, UM IT WENT VERY WELL LAST WEEK. I THINK WE GOT LOTS OF GREAT QUESTION. STAFF DID A TERRIFIC JOB ALONG WITH OUR CONSULTANTS IN FACILITATING QUESTIONS DURING THE EVENT, THEY HAD A CLEVER TECHNOLOGY THAT ALLOWS FOLKS TO PULL IT OUT OF YOUR QR CODE, PULLED UP ON THEIR PHONE AND ASK THE QUESTIONS REAL TIME AND IT ACTUALLY HELPED MOVE THE PROCESS ALONG MORE SMOOTHLY AND ACCREDITING BARRY SHELTER AND I WANT TO PUBLICLY THANK BARRY. HE'S DOING AN AMAZING JOB GUIDING THAT PROCESS THROUGH WORKING WITH ALL THE DISPARATE PARTIES. LONG WAY TO GO, BUT WE ARE VERY EXCITED ABOUT THE MOMENTUM THUS FAR OCTOBER 24TH NOT FAR FROM HERE ACROSS THE ACROSS THE WAY ACROSS HIGHWAY FIVE WILL BE THE GROUNDBREAKING FOR THE NEW CITY HALL. TONIGHT AT THE CITY COUNCIL MEETING THE COUNCIL WILL CONSIDER AND HOPEFULLY ADOPT THE COUPLE OF EMOTIONS NUMBER ONE THE FUNDING FOR CITY HALL CONSTRUCTION AND AS WELL AS THE CONTRACT WITH THE GENERAL CONTRACTOR. THAT WILL, UH, START BUILDING THE PROJECT. YOU SEE DIRT MOVING ALREADY.

[00:10:01]

WE'VE DROPPED ONE MALE OR WE'VE GOT ANOTHER MILLER. THAT'S ABOUT TO DROP. SO JUST KEEPING THAT IN THE FOREFRONT WERE VERY POSITIVE ABOUT THE ELECTION AND GIVEN THE NUMBER OF SIGNATURES THAT WE WERE ABLE TO ACQUIRE THE OUR. OUR GOAL, THOUGH, IS TO MAKE SURE EVERYBODY FINISHES THE BALLOT BECAUSE WE WILL BE THE LAST THING ON THE BALLOT. SO DON'T JUST GO AND VOTE FOR GOVERNOR AND WALK OUT. UM MAKE SURE YOU KEEP THERE'S OTHER BRACES ON THE DOWN PART OF THE BALLOT. UM AND THEN LAST, BUT NOT LEAST, WE'RE EXCITED ABOUT OUR MOVE. I KNOW. I BELIEVE PETER. Y'ALL ARE MOVING THIS 7TH NOVEMBER SEVENTH SOMEWHERE IN THAT TARGET DATE AND WE'LL BE FOLLOWING A WEEK LATER. NOVEMBER 17TH IS OUR TARGET MOVING DAY. WE'VE BEEN WORKING WITH NBC AND CBC. WE'RE WORKING ON A JOINT PRESS RELEASE AND DOING AN OPEN HEALTH IN JANUARY, SO WILL BE A LOT OF EXCITING THINGS REGARDING THAT. THAT PARTNERSHIP AND THAT COLLABORATION SO LOOKING FORWARD TO THAT WITH THAT OUTSTANDING TO ANSWER ANY QUESTIONS. SO LISA, YOU AND I HAVE NOT HAD A CHANCE TO CATCH UP ON THIS. BUT HAVE WE SEEN ANY ORGANIZED OPPOSITION TO THE LIQUOR ELECTION YET ORGANIZED? NO, I. YESTERDAY I, UM DID SOMETHING I WAS TELLING THEM EARLIER. I'VE NEVER DONE BEFORE POSTED IN. MCKINNEY CARES ABOUT THE ELECTION. AND SO I GOT A COUPLE OF COMMENTS BUT GENERALLY MORE SUPPORT THAN THE NEGATIVE. UM TO THAT END, SO OKAY. I HAVEN'T SEEN ANYTHING.

THAT'S REALLY EVERYTHING I'VE SEEN ORGANIZED THAT I WOULDN'T SAY I HAVEN'T COME ACROSS THAT YET. ANY OTHER QUESTIONS. THANK YOU, LISA. THANK YOU. THAT'S WHERE THE COMMUNITY DEVELOPMENT CORPORATION. CINDY. GOOD MORNING. GOOD MORNING, MR CHAIRMAN, MR PRESIDENT, MEMBERS OF THE BOARD. CONGRATULATIONS TO THE NEW OFFICERS LOOK FORWARD TO WORKING WITH YOU ALL IN THE COMING YEAR. JUST WANTED TO HIGHLIGHT A COUPLE OF THINGS FROM THE REPORT THAT WAS ATTACHED TO THE AGENDA. AT OUR LAST MEETING, THE COMMUNITY DEVELOPMENT CORPORATION BOARD APPROVED RETAIL INFRASTRUCTURE GRANT FOR A PROJECT THAT THE COTTON MILL AND JUST AS A REMINDER THOSE GRANTS ARE FOR EXTERIOR INFRASTRUCTURE FOR LANDMARK RETAIL. UM THE PROJECT

[00:15:02]

IT WILL BE MORE ATTRACTIVE TO, UM DOWNTOWN BUSINESS OWNERS AND THOSE THAT HAVE HISTORIC PROPERTIES IN THE CULTURAL DISTRICT AND GENERAL DOWNTOWN AREAS SO THAT TAKES EFFECT WITH THIS YEAR'S GRANT PROGRAM. UM THE STEPS PROJECT CONTINUES. GOT SOME GREAT PHOTOS JUST YESTERDAY , SO THEY'RE NOT INCLUDED WITH YOUR REPORT, BUT THE BREWERY BUILDING IS UP. AH WORK CONTINUES ON THE SITE AND TAPS IS TARGETING MID DECEMBER EARLY TO MID DECEMBER TO START THE BREWING PROCESS ON THE NEW SITE AND THEN TOTAL MOVIN AND EARLY TO MID JANUARY. SO THAT CONTINUES OUR PROMOTIONAL GRANT PROGRAM FIRST ONE FOR THE COMING FISCAL YEAR APPLICATION PERIOD OPENS NOVEMBER 1ST. AND THAT WILL BE FOLLOWED BY PROJECT GRANTS. DECEMBER 1ST SO WE'LL START THE GRANT AWARD ROLE THAN AND I'M HAPPY TO RESPOND TO ANY QUESTIONS. QUESTIONS. THANK YOU.

THANK YOU VERY MUCH. VISIT MCKINNEY, ERIN WARNER. YEAH HOW YOU DOING? GOOD MORNING, MR CHAIRMAN, MR PRESIDENT, MEMBERS OF THE BOARD WARNER EXECUTIVE DIRECTOR VISIT MCKINNEY EXCITED TO BE HERE THIS MORNING. GIVE YOU GUYS A QUICK UPDATE FROM THE TOURISM PERSPECTIVE HERE IN MCKINNEY, UM, EVERYTHING THAT WE DO VISIT MCKINNEY SUCCESS IS GOING TO BE DEPENDENT ON OUR ABILITY TO PARTNER AND WORK WITH OUR COMMUNITY ORGANIZATIONS LIKE THE CDC, THIS CITY AND OTHERS.

AND SO THAT'S SOMETHING THAT HAS BEEN MADE VERY CLEAR TO ME IN MY FIRST FEW MONTHS ON THE JOB IS HOW IMPORTANT IT IS TO CONTINUE TO BUILD THESE RELATIONSHIPS. AND I'M VERY THANKFUL FOR PETER AND THE TEAM AND ALL THE QUESTIONS THEY'VE ANSWERED FOR ME DURING THAT TIME AND ONE OF THE THINGS THAT I WAS BROUGHT, IT WAS BROUGHT TO ME YESTERDAY ACTUALLY WAS FROM ONE OF OUR HOTEL PROPERTIES IN TOWN. AND YOU KNOW, WE HAVE SOME REALLY GREAT CORPORATIONS HERE IN MCKINNEY AND WE ACTUALLY LOST BUSINESS LOST THE HOTEL BUSINESS FOR ONE OF OUR LOCAL CORPORATIONS FOR NEXT YEAR AS SOMEONE WHO HAD BEEN STAYING IN BRINGING ALL OF THEIR MEETING BUSINESS TO MAKE ANY FOR SEVERAL YEARS, FIVE YEARS, I BELIEVE, AND SO JUST THE IMPACT OF THAT ALONE. I WANTED TO SHARE TO THIS BOARD BECAUSE IT WAS. IT WAS PRETTY POWERFUL FOR ME TO HEAR THIS. OVER THE COURSE OF NEXT YEAR THAT JUST LOSING THAT ONE CORPORATE BUSINESS IN MCKINNEY WILL LOSE ABOUT $500,000 IN REVENUE FOR THE CITY OF MCKINNEY. NOW THAT WAS A ONE YEAR CONTRACT. THAT MEANS THAT WE HAVE A YEAR NOW TO FOR TO CONTINUE TO BUILD THIS RELATIONSHIP. A LOT OF TIMES WE TALK ABOUT THE MESSAGE OF BY HER, YOU KNOW, UM GARLIC, COME HERE AND WORK HERE. ALL OF THAT , BUT A NEW MESSAGE THAT I THINK THAT WE NEED TO START BUILDING INTO OUR CONVERSATIONS AND STAY HERE BECAUSE WHEN YOU DO INVEST IN MCKINNEY WITH YOUR CORPORATE LOCATION, AND THEN YOU ALSO STAY THE IMPACT OF THAT ECONOMIC IMPACT OF THAT IS PRETTY GREAT AND LOSING ONE. IT HURTS. AND YOU KNOW THAT SOME SOMETHING THAT I'M HEARING THAT YESTERDAY THAT I'M GONNA TAKE SERIOUSLY FROM MY PERSPECTIVE AS THE EXECUTIVE DIRECTOR, AND AGAIN I WILL RELY HEAVILY ON SOME OF THE RELATIONSHIPS OF THE EEC TEAM TO HELP ME HAVE THOSE CONVERSATIONS WITH OUR CORPORATE PARTNERS. BUT I WANTED TO SHARE THAT WITH YOU. UM HOW WAS IT TOUGH CONVERSATION , BUT ON THE FLIP SIDE OF THE COIN WHEN WE TRACK OUR OCCUPANCY RATES AND ALL OF THE DATA THAT WE DO TRACK AND MCKINNEY ARE WEEKENDS AND MCKINNEY ARE PHENOMENAL FROM AN OCCUPANCY STANDPOINT, WE'RE HAVING SATURDAYS AND SUNDAYS AT 90 TO 93% OCCUPANCY IN THE CITY CITYWIDE, AND THAT'S REALLY HARD TO GET BETTER THAN THAT. THERE'S ONLY WHAT 6% BETTER YOU CAN GET SO AND I ATTRIBUTE THAT A LOT, TOO. OUR WEDDING BUSINESS AND MCKINNEY. WE HAVE SO MANY WEDDING VENUES WITHIN A 15 MILE RADIUS AND INCLUDING NORTH WHERE THERE'S NO HOTEL PROPERTIES, SO PEOPLE STAY HERE AND THEN OUR PARKS TEAM DOES A PHENOMENAL JOB AT YOUTH, SPORTS AND OTHER SPORTING TOURNAMENTS THAT COME IN, AND THEY FILL UP OUR HOTELS. AND SO EVEN THE PROPERTY I WAS TALKING TO YESTERDAY LIKE WE'RE GOOD ON WEEKENDS. IT'S WELL, IT'S MIDWEEK BUSINESS THAT THEY NEED HELP WITH, AND THAT REALLY COMES DOWN TO CORPORATE AND SO THAT'S SOMETHING THAT I'VE GOT ON MY LIST. AND THE LAST THING I WANT TO LEAVE WITH YOU GUYS AND I. I'VE LEFT THIS WITH A FEW OTHER BOARDS OVER THE PAST MONTH AND MONTH OR SO WHEN I'M GONE AROUND IS REALLY WHAT'S DRIVING ME AND WHAT MAKES ME EXCITED TO BE ON THE VISIT, MAKING MCKINNEY TEAM AND THEN OVERALL IN MCKINNEY TEAM IN GENERAL, AND THAT'S A UH, STATEMENT BY MARA GAS, AND IT SAYS, IF YOU BUILD A

[00:20:07]

UM UH, I WAS KIND OF LIKE THE REITERATE WITH LISA SAID, YOU KNOW, OUR JOB HERE IS TO SPUR, YOU KNOW, TAX GROWTH AND, UH, AND ECONOMIC GROWTH FOR THE CITY OF MCKINNEY PACKAGE. LIQUOR SALES IS, UH ALTHOUGH YOU KNOW IT'S A SMALL PART, IT ADDS TO IT ADDS TO THE TO THE PIE MCKINNEY OF THE ALLOW US TO DO EVERYTHING TO MAINTAIN. YOU KNOW OUR CITY AS IT STANDS, AND I AND I WOULD LIKE TO SAY JUST NEXT MONDAY IS EARLY VOTING AND ITS PEOPLE SAY, WELL, IT'S A VERY IMPORTANT FOR YOU TO VOTE, BUT IT'S NOT REALLY THAT YOU NEED TO VOTE. I WOULD ENCOURAGE EVERYBODY TO GO OUT AND MAKE SURE THAT THEY ASKED HER FRIENDS TO VOTE. BECAUSE IT'S NOT JUST, YOU KNOW, ONE OF US. IT'S ALL OF US. AND SO YOU ASK YOUR FRIEND AND MAKE SURE THEY'RE ACCIDENT, THEIR FRIENDS AND THAT'S OUR COMMUNITY GETS TOGETHER AND GET STINKS, PASSED LIKE A PACKAGE, LIQUOR SALES AND SO MY THING BEFORE THE NOVEMBER ACTUAL ELECTION AND GET THEM OUT EARLY, LET'S START NEXT MONDAY.

GO OUT, YOU KNOW, DON'T JUST VOTE BY YOURSELF. TAKE YOUR SPOUSE AND MAKE SURE THEIR NEIGHBORHOOD AND THEY'RE TAKING THEIR FRIENDS. THAT'S TRUE. IF I COULD. I COULD ADD THAT I THINK ONE THING THAT GETS LOST ON SOME PEOPLE WHEN IT COMES TO ELECTIONS LIKE A LIQUOR ELECTION IS COMPETITIVE DISADVANTAGE THAT THE COMMUNITY CAN BE IN WHEN EVERY CITY AROUND YOU ALREADY HAS PACKAGED LIQUOR SALES. AND WHEN YOU THINK ABOUT IT AND YOU KNOW, I KNOW THEIR ARGUMENTS ON BOTH SIDES OF THE ISSUE. BUT NO ONE IS FINANCIAL. THE OTHER IS SOME CASES, SAFETY SOME OTHER THINGS, BUT WHEN YOU LOOK AT THE FACT THAT YOU COULD LITERALLY DRIVE ACROSS THE STREET ON CUSTER RODE OUT OF MCKINNEY INTO PLANO AT ONE LOCATION AND BUY LIQUOR YOU CAN DRIVE. ACROSS THE STREET IN OTHER LOCATIONS AND GO INTO FRISCO. YOU KNOW, PEOPLE ARE NOT HAVING TO DRIVE. MILES AND MILES AND MILES TO YOU KNOW, ULTIMATELY GENERATE TAX DOLLARS FOR THESE OTHER CITIES. WELL WE DON'T HAVE THAT ABILITY, AND I THINK THAT'S A BIG PART OF THIS IS YOU KNOW, JUST LIKE IT WAS WHEN WE DID THE BEER AND WINE ELECTION. A LOT OF IT WAS BASICALLY JUST FROM A TAX STANDPOINT TO BE IN THE SAME POSITION. ECONOMICALLY AS OUR SISTER SAYS, SO. YOU KNOW, JUST ADD TO YOUR COMMENTS. I AGREE. IF I MAY. I'D ALSO LIKE TO TAKE A MINUTE TO AGAIN RECOGNIZED THE STAFF FOR THE GREAT THINGS THAT DOING GETTING OUT IN THE COMMUNITY. I WAS ABLE TO PARTICIPATE IN A COUPLE EVENTS THE LAST COUPLE OF WEEKS. ONE WAS AT RED NEWS, COLLIN COUNTY, THEY HAD AN EVENT AGAIN. IT WAS A GREAT EVENT SHOWCASING THE CITY MCKINNEY. UM BUT WHAT WAS VERY APPARENT IN THAT MEETING OVER AND OVER AND OVER AGAIN WITH THE ECONOMICS OF COLLIN COUNTY. WAS THIS LITTLE THING CALLED THE MCKINNEY AIRPORT THAT KEPT ON COMING UP AND COMING UP AND COMING UP AS BEING THE BIG ECONOMIC GENERATOR FOR COLLIN COUNTY. AND FOR THE CITY OF MCKINNEY. SO AGAIN, IT JUST SHOWS THE IMPORTANCE THAT, UM, IT IS FOR THAT AREA TO SUCCEED, BUT MORE IMPORTANTLY FOR US, UM AS PEOPLE THAT ARE IN THE KNOW TO MAKE SURE THAT PEOPLE THAT ARE NOT IN THE KNOW THAT WE DO HAVE AN AIRPORT HERE IN MCKINNEY AND JUST HOW VALUABLE IT REALLY

[00:25:01]

IT'S JUST NOT SOMETHING THAT WE REALLY WANT. SO IT'S A COMPLEX PROBLEM, BUT I THINK IT'S GOING TO BECOME MORE IMPORTANT. MHM, RIGHT? COMMUNITY AND I WAS LIKE, LIKE, IF EVERYBODY'S GETTING INTO THAT. SO NEXT, WE'LL MOVE ON NEXT. UH UH, SEE HERE, 22.98 TO CONSIDER DISCUSSED IN THE D.

[Consider/Discuss MEDC Monthly Organizational Report]

[Consider/Discuss MEDC Monthly KPI Metrics Report]

EVERYTHING ELSE IS ON TARGET, OR IS MITT MITT TARGET FOR THE YEAR? WE'RE DOING REALLY WELL.

QUESTIONS OR COMMENTS FOR PETER. THAT WILL MOVE ON TO THE REGULAR AGENDA. AND THIS IS A 22 DADS

[Consider/Discuss/Act on the August 2022 Financials]

MILLER FINANCIAL COMPLIANCE MANAGER WINDOW AND START ON PAGE TWO. THE OPERATING STATE. YEAH,

[00:30:03]

THAT BRINGS OUR YEAR TO DATE ACTUAL UP TO $18.9 MILLION IN SALES TAX REVENUE. WE STILL HAVE ONE MORE MONTH TO COLLECT TO GET A FULL 12 MONTHS, SO WE HAVE SURPASSED THE INITIAL BUDGET OF THE $17.7 BILLION IN BUDGET. I WILL NOTE THAT AFTER WE GET THERE NEXT YEAR OR SEPTEMBER SALES, TAX COLLECTIONS AND OUR FINANCIALS WE START TO COLLECT TWO MORE MONTHS OF SALES TAX REVENUE. THOSE WILL BE, UM, NETTED WITH THE FIRST COUPLE OF MONTHS, SO IT'S NOT GOING TO BE JUST ANOTHER 1.9 MILLION. IT WILL BE THE DIFFERENCE IN WHATEVER THE FIRST MONTHS COLLECTED. SO WHENEVER I GET THIS SEPTEMBER, I'LL SHOW YOU THOSE NUMBERS AND SHOW YOU THE IMPACT OF ALL THAT STUFF REGARDLESS WILL BE SEEING ANOTHER CLOSE TO $2 MILLION COMING INTO THAT $18.9 MILLION. SO IT WILL BE AROUND THE 20.9. HOWEVER, SALES TAX COMES OUT, UM FOR THE LAST TWO MONTHS OF THE FISCAL YEAR WE'LL SEE WHAT THE FINAL NUMBERS END UP BEING. BUT I'LL BE BACK IN NOVEMBER WHEN I WRITE THE FINAL NUMBERS, SO IT WAS GOOD UNLESS INTEREST INCOME WAS 24,000. MOVING DOWN TO EXPENSES. PERSONNEL WAS 79,000 FOR THE MONTH OF AUGUST.

SUPPLIES WAS 1000. SERVICES AND SUNDRY WERE 90,000 SO OPERATIONAL EXPENSES FOR THE MONTH OF AUGUST 173,000 THAT BRINGS THE YEAR TO DATE UP TO 2.5 MILLION. MOVING ON THE PROJECTS. WE HAD 73 POINT YES, 73.5000 FOR PROJECTS. 84,000 FOR THE NEW OFFICE BUILDING LEASEHOLD IMPROVEMENTS FOR THAT TOTAL PROJECT EXPENSES 157,000. THE VERY BOTTOM PART OF THE EXPENSES. IS A LOT OF OUR NON DEPARTMENTAL STUFF. SO IT'S LIKE OUR ADMIN FEE. IT IS R I N S RIGHT FOR YOUR DEBT SERVICE PAYMENTS, SO THE TOTAL OF THAT FOR THE MONTH OF AUGUST WAS 238,000 TOTAL EXPENSES WAS 568 69,000, WHICH RESULTED? YES WE TOLD REVENUES OF TWO MILLION TOTAL EXPENSES OF 569,000 COME BACK NEXT MONTH. UM AND THEN IN SEPTEMBER, AND I'LL SHOW YOU WHAT ARE PROJECTED FUND BALANCES AT THAT TIME. YOU CAN KIND OF SEE AT THE BOTTOM, BUT WE'RE AT THE BOTTOM LEFT THERE WERE PROJECTING 5.2 MILLION, BUT THAT IS STILL USING THE BUDGETS NEXT MONTH. I'LL BE ABLE TO USE THE ACTUALS AND YOU CAN SEE THAT WERE MORE IN LINE WITH AROUND THIS 17 MILLION FUND BALANCE TO END PHYSICAL YEAR 22, BUT I'LL REMEMBER SALES TAX. WE ALSO HAVE THAT IF YOU LOOK AT BUILDINGS AND STRUCTURES FOR THE GUYS AND PARKING GARAGE I HAVE TO WORK WITH THEM TO SEE HOW IMPORTANT THE PROGRESS THEY'VE MADE ON THAT, AND THAT WILL IMPACT THAT 10.75 MEMBERS OF MEGA BIG CHANGE THE FUND BALANCE AT THAT TIME. THIS IS THE SALES TAX. IT'S THE FIFTH PAGE, I THINK. ALRIGHT SO AUGUST COLLECTIONS IN THE MONTH OF JUNE AND THIS IS THE MONTH WE EXPECTED TO START SEEING A LITTLE DECREASE IN SALES TAX REVENUE. THAT'S WHEN THE INTEREST RATE WAS THE HIKES THAT REALLY STARTED TO HIT. THEN CPI INCREASES WAS ALL FOREFRONT, AND YOU CAN SEE WE STILL HAD 11.1% INCREASE. SO THE CONCERNS WE HAD AT THAT TIME AREN'T COMING TO FRUITION. AND YOU CAN SEE THAT YEAR TO DATE IS THAT BRINGS IT UP TO 16% INCREASE? WE STILL LOOKING AT THE NEXT FEW MONTHS, WE'LL SEE HOW THAT IMPACTS IT. BUT AS OF RIGHT NOW, WE CAN'T SAY ANY OF THOSE CONCERNS ARE AFFECTING THE SALES TAX NUMBERS. LOOKING AT ALAN. THEY HAD A 3.6% INCREASE THAT'S PRETTY CONSISTENT WITH THE ISLAND'S BEEN FOR THE PAST SEVEN MONTHS.

FRESCO IS STILL AT THAT 22% INCREASE IN THERE FOR A WHILE. PLANTERS AT 15.4% INCREASE IN SEA BELOW THEIR YEAR TODAY INCREASES ON AT SOME 0.6% FRISCO 24.4% AND PLAYING OUT 17.4% ALL THOSE ARE TRUE INCREASES. THERE'S NO AUDIT COLLECTIONS OR ANY OF THOSE IMPACTING THOSE NUMBERS OF THOSE ARE GOOD NUMBERS TO GO OFF OF AND IF THERE'S NO QUESTIONS WE CAN MOVE ON TO THE, UM, INDUSTRY THE NEXT THE LAST PAGE. AND THAT'S HOW EVERY INDUSTRY FOR AUGUST COLLECTIONS DID FOR THE CITY OF MCKINNEY. YOU CAN SEE THAT WE HAD EVER LOOKING AT THE BOTTOM PART THAT EVERY INDUSTRY HAD A PRETTY STANDARD INCREASES RETAIL TRAIN. IT WAS A LITTLE BIT HIGHER OR UTILITIES AS LITTLE HIGHER CONSTRUCTION. BUT ON A MONTH TO MONTH BASIS, THOSE ALL KIND OF FLUCTUATE SO IF I'M LOOKING AT IT, NOTHING REALLY JUMPS OUT AT ME. I'M SEEING PRETTY STANDARD INCREASES ACROSS ALL INDUSTRIES. THERE'S NO CONCERNING INDUSTRIES OR ANYTHING LIKE THAT JUMPING OUT AT ME, AND I'LL BE HAPPY TO STAND FOR ANY QUESTIONS AT THIS TIME. QUESTIONS. THANK YOU. THANK YOU APPRECIATE IT. ALL RIGHT. THERE'S NO QUESTIONS. DO I HAVE A MOTION TO APPROVE THE AUGUST FINANCIALS MAKE THAT MOTION. DO I HAVE A 2ND 2ND THAT MOTION. MOTION BY MR AND MRS SALLY AND SECOND BY THAT.

[00:35:19]

[Receive presentation by the City of McKinney on Potential 2023 Bond Election Including Projects to be Funded]

[00:40:01]

BUT HOW CAN WE MAXIMIZE IT TOMORROW? YOU CAN JUST SCROLL THROUGH THOSE AIRPORT FACILITIES, SOURCES AND FANS. I JUST LEFT A COUPLE OF THESE IN JUST WE GAVE KIND OF AN AIRPORT ONE. OH, ONE BRIEFING TO THE BANK COMMITTEE, KEVIN COUPLE OF THOSE IN HERE JUST FOR CONVERSATION YOU CAN SEE ON THE LEFT IS THESE ARE AIRPORTS OF SIMILAR SIZE AND SCOPE AS OURS.

YOU CAN SEE THAT OVER 55% OF THE COSTS ASSOCIATED WITH THIS PROJECT OR PROJECTS LIKE IT IS THE TERMINAL ITSELF. AIRSIDE HAS ABOUT MAYBE A THIRD. AND, UH, OR I MEAN FOURTH, A LITTLE LESS THAN 1/4. THAT'S YOUR RAMP SPACE , YOUR TAXIWAYS, RUNWAY CONNECTIONS AND WHATNOT. AND THEN THE LAND SIDE OR YOUR PARKING LOTS DRIVE APPROACHES OFF SITE INFRASTRUCTURE. WORK TO DATE. YOU GO ON PAST THIS. I'M GOING TO TRY TO GO QUICKLY. SO BUSINESS CASE AIRLINE ENGAGEMENT. WE HAVE A FULL PLAN FOR HOW WE'RE ENGAGING. OUR AIRLINES WERE TALKING WITH MANY , IF NOT MOST OF THEM, ALL DIFFERENT TYPES OF AIRLINES. WE'RE TALKING TO OUR LEGACY CARRIERS. WE'RE TALKING TO OUR LOW COST CARRIERS, AND WE'RE TALKING TO OUR ULTRA LOW COST CARRIER. SO THOSE ARE THREE CATEGORIES. YOU KNOW WHAT A LEGACY IS. YOUR DELTA AMERICAN UNITED? UH, THAT TIRED. BEEN AROUND FOR A LONG TIME THEY HAVE LARGE NETWORKS. LOW COST OR MORE YEARS. SKY BLUE. ALRIGHT THAT'S GOOD. I SAID THAT RIGHT? SORRY. YES SOUTHWEST AIRLINES FALLS UNDER LOW COST CARRIER. ALASKA IS A LOW COST CARRIER. THEY HAVE A LITTLE DIFFERENT MODEL. AND THEN YOUR LCCS ARE ULTRA LOW COST OR YOUR YOUR BREEZE. UH SPIRIT FRONTIER. THOSE TYPES OF

[00:45:03]

WE DON'T WANT TO SCARE ANYONE OFF BY OUTING THEM TO THE TO THE OTHER AIRLINES. BUSINESS CASE.

ONE OF THE BIGGEST THINGS WE HAD TO DO WAS A AIRLINE. UM DEMAND ANALYSIS. WE LOOKED AT OUR PRIMARY AND SECONDARY CATCHMENT AREAS. PRIMARY IS SHOWN IN RED THOSE ARE THE AREAS THAT ARE 10 MINUTES CLOSER TO OUR AIRPORT THAT ARE COMPETING AIRPORTS OF DALLAS LOVE FIELD OR THE FW. THE SECONDARY, WHICH IS IN THE BLUE. IS REALLY THE AREAS WHERE YOU COULD GO. EITHER WAY, IT MIGHT BE A LITTLE CLOSER TO TK I BUT IT'S EASY TO GET TO EITHER ONE SO YOU CAN SEE JUST IN OUR PRIMARY AND SECONDARY CATCHMENT AREAS. THERE IS 1.6 MILLION EMPLACEMENTS ANNUALLY IN 2021.

WHICH WAS ACTUALLY A REALLY DOWN HERE FOR THE MARKET FOR THE AIRLINE INDUSTRY AS A WHOLE. SO WHAT WE'RE TRYING TO DO IS SAY THOSE ARE PRIMARY CATCH PRIMARY SECONDARY CATCHMENT AREAS IF YOU GO TO THE NEXT SLIDE. YOU CAN SEE WE'RE PLANNING TO CAPTURE A PERCENTAGE OF OUR PRIMARY AND A PERCENTAGE OF OUR SECONDARY. WE THINK THAT BASED ON OUR CONSULTANTS RESEARCH ON OTHER AIRPORTS B N A I LET'S CALL. THE OTHER TWO AIRPORTS ARE BOTH PRIMARY AIRPORTS THAT WOULD MAKE US A SECONDARY AIRPORTS, SO SECONDARY AIRPORTS. WE'RE NOT GOING TO CAPTURE A LARGE PERCENTAGE OF OUR PRIMARY OR SECONDARY. WE THINK WE'LL GET MORE OF OUR PRIMARY AS IT EXTENDS OUT TO DENNIS AND SHERMAN. GREENVILLE PARIS, OKLAHOMA. THAT'S ALL IN OUR SECONDARY OR PRIMARY CATCHMENT AREA. WE THINK WE CAN CAPTURE AROUND 30% OF THAT ARE SECONDARY CAPTURE CAPTION CATCHMENT AREA WE'RE EXPECTING ABOUT 15% SO YOU CAN SEE THAT'S 528,000 IMPLEMENTS AND EMPLOYMENT, SOMEONE BOARDING THEIR PLANE HERE AND FLYING AWAY. SO THAT'S NOT TOTAL PASSENGERS. THAT'S JUST SOMEONE BOOKING A FLIGHT FROM MCKINNEY TO SOMEWHERE ELSE.

WHICH LOOKS TO BE ABOUT 12 FLIGHTS A DAY. WE ALSO COMPARED TO OTHER REGIONS. YOU CAN SEE SAN JOSE, SAN FRANCISCO OAKLAND . SIMILAR DEMOGRAPHICS IN TERMS OF NUMBER OF POPULATION. THEY HAVE FIVE AIRPORTS. THEY HAVE SOME PRIMARY AIRPORTS BUT ALSO SOME SECONDARY AIRPORTS AND THEN THE BOSTON REGION ALSO HAS FIVE AIRPORTS. ONE PRIMARY. A COUPLE THAT ARE A LITTLE BIT SMALLER THAN A COUPLE OF ACTUAL SECONDARY AIRPORTS. DALLAS FORT WORTH IS UNIQUE AND YOU'VE PROBABLY HEARD ABOUT ALL THE WRANGLINGS THAT HAPPENED AROUND THE CONSTRUCTION OF THE W AIRPORT. HOW THAT RELATED TO LOVE FIELD AND THE RIGHT AMENDMENT. ALL OF THAT IN PLACE , BUT IT'S HELD US AT TWO COMMERCIAL AIRPORTS, COMMERCIAL SERVICE AIRPORTS IN THE REGION.

WE HAVE ONE OF THE FASTEST GROWING REGIONS WITH GREAT DEMOGRAPHICS, AND WE ONLY HAVE TWO AIRPORTS. THOSE AIRPORTS CONSERVATIVE POPULATION IN THE REGION TODAY. HOWEVER. AS THE REGION CONTINUES TO GROW. IN NUMBERS, BUT ALSO IN AREA THE DRIVE TIMES. THOSE AIRPORTS ARE INCREASING IN THE COUNCIL OF GOVERNMENTS ACTUALLY ANTICIPATES DRIVE TIMES FROM MCKINNEY IN 2040 COULD EXCEED AN HOUR TO AN HOUR AND 15 MINUTES TO EITHER OF THOSE AIRPORTS. SO AS THE DRIVE TIMES INCREASE THE VALUE OF HAVING A THIRD AIRPORT TO CAPTURE THOSE PEOPLE GROWS. SO NOW WE'LL GET INTO THE DESIGN AND THIS IS KIND OF THE TAIL END OF THE PRESENTATION, BUT YOU CAN SEE THE LOCATION WE'RE PLANNING FOR THE TERMINAL IS ACTUALLY ON THE EASTERN SIDE. WE'VE ROTATED THE PICTURE HERE. SO NORTH IS TO THE LEFT. YOU CAN SEE HISTORIC DOWNTOWN MCKINNEY AIRPORT DRIVE . YOU CAN SEE ALL THE DEVELOPMENT ON THE WEST SIDE, WHICH IS R G A AIRPORT. THAT'S THE FBO TERMINAL. THAT'S THE HANGERS, THE CORPORATE HANGERS, THE PRIVATE HANGARS AND YOU CAN SEE THE RUNWAY AND SO THE LOCATION WOULD BE THERE ON THE SOUTHEASTERN UH, SIDE OF THE RUNWAY AND YOU CAN SEE THE EXTENSION OF SPUR 3 99. THAT'S THE FREEWAY THAT'S BEEN DESIGNED AS PART OF EVERYONE'S HEARD ABOUT THE 3 85 PASS ARGUMENTS THAT EVERYONE IS IN THE MIDDLE OF PART OF THAT IS ACTUALLY THE SPUR 3 99 EXTENSION. WHAT THIS WILL DO IS REALLY EXTEND HIGHWAY 1 21 OR THE SAME RAYBURN TOLLWAY DOWN AROUND AND TO THE EAST SIDE OF OUR AIRPORTS, SO YOU HAVE FREEWAY ACCESS DIRECTLY FROM 1 21 UP TO 3 80 EAST OF OUR AIRPORT, AND THEY JUST SELECTED THIS ALIGNMENT. I BELIEVE IT WAS LAST WEEK OR THE WEEK BEFORE TECH STATUS. SELECT TO THIS AS THE PREFERRED ALIGNMENT. WE WORKED REALLY HARD WITH THEM AND WITH OUR RUNWAY EXTENSION PROJECT. TO MAKE SURE THAT THIS COULD HAPPEN. AND SO THAT ACCESS PROVIDED TO THE EAST SIDE IS

[00:50:02]

WE MAY ALSO BE BUILDING THAT PARKING AS WELL. THAT WOULD PROVIDE ADDITIONAL ECONOMY PARKING OF ALMOST 1200 SPACES, SO THAT'S A GOOD PROBLEM TO HAVE IS AN EXPENSE THAT WOULD BE ADDED TO IT. BUT THAT EXPENSE COMES WITH THE VALUE OF THE ADDITIONAL FLIGHTS. NOW I'M GONNA GO THROUGH A COUPLE RENDERINGS WE HAVE SO THIS WOULD BE THE CURBSIDE ARRIVALS SIDE.

IT'S A DUAL LEVEL YOU CAN SEE ABOVE. THE ENTRANCE HERE IS ACTUALLY THE DEPARTURE SIDE. YOU CAN SCROLL THROUGH THE NEXT ONE. THIS WOULD BE THE DEPARTURES CURBSIDE GOING INTO THE TERMINAL. THIS IS ACTUALLY THE MAIN FLOOR THE UPPER LEVEL. YOU'VE GOT YOUR TICKETING HERE ON THE BOTTOM. IT'S A SECURITY GOING THROUGH THE MIDDLE, AND THEN THE HOLDING AREAS WITH THE FOUR GATES. THE NEXT ONE IS JUST THE BAGGAGE CLAIM ON THE BOTTOM LEVEL. AND THEN SOME VIEWS THE WHOLE ROOM AS YOU WALK IN BETWEEN THE GATES. SOME MORE PHOTOS OF THE WHOLE ROOM. WE'RE TRYING TO BRING NATURAL LIGHT INTO THE WHOLE THING TO MAKE IT A CUSTOMER EXPERIENCE AND YOU CAN SEE IF YOU'VE EVER BEEN TO AN AIRPORT THAT ONLY PROVIDES ULTRA LOW COST CARRIER SERVICE.

THEY TYPICALLY DON'T LOOK LIKE THIS. SO THE GOAL OF THE COMMUNITY AND THE CITY COUNCIL IS DIRECTED STAFF TO WORK ON IS TO BUILD THE TERMINAL FOR THE SERVICES WE WANT TO ATTRACT. IF WE WANTED TO ONLY ATTRACT LOW COST CARRIERS. WE COULD GO OUT THERE. I KEEP CALLING IT A KWANZAA HAD WE COULD GO JUST A BOX OUT ON THE FIELD WITH A BIG PARKING LOT FOR JETS AND THEY HAD PULLED UP AND PEOPLE WOULD WALK UPSTAIRS TO GET ON IT. WE COULD DO THAT JUST TO HAVE AN AIRPORT. WE HAVE BEEN DIRECTED, AND WE THINK IT'S THE RIGHT DIRECTION TO BUILD THE QUALITY EXPERIENCE THAT'S GOING TO ATTRACT THE QUALITY AIRLINES. SO THAT'S PART OF THE PROGRAM. NEXT SLIDE, SO THIS WOULD BE THE AIRSIDE AS YOU'RE PULLING IN. YOU CAN SEE UNDERNEATH WHERE THE BAGGAGE CLAIM IS AND OR THAT THE BAGGAGE HANDLING SO THE NEXT ONE IS PROBABLY A KEY ONE HERE WHEN YOU LOOK AT THIS, LIKE I SAID THE TERMINAL BUILDING ITSELF IS $173 MILLION. THAT ACTUALLY INCLUDES ESCALATION FOR US BUILDING IT BY 2026. YOU CAN SEE IN 2024. WE NEED JUST UNDER $200 MILLION TO GET THINGS ROLLING. AND THEN THE NEXT YEAR BECAUSE IT TAKES LESS TIME TO BUILD THE THEY'RE FLAT SURFACES, THE RUNWAY OR TAXIWAYS. THE TERMINALS, THE PARKING LOTS THAT FUNNY WOULD BE NECESSARY IN 2025 , SO WE'RE LOOKING AT A $300 MILLION PROJECT AND YOU CAN SEE ON THE RIGHT SIDE. WE HAVE EXPECTED FUNDING. RIGHT NOW. WE WE JUST STARTED THE BOND COMMITTEE PROCESS, BUT OUR ESTIMATE IS WE'RE GOING TO BE GOING TO THE VOTERS FOR SOMEWHERE AROUND. $200 MILLION IN GEO FUNDS. ONE OF THE INTERESTING THINGS ABOUT AIRPORT IS WE HAVE TO FUND A LOT OF IT UP FRONT. WE HAVE TO GET IT BUILT. WE HOPE TO GET BETWEEN 60 AND $80 MILLION IN FEDERAL GRANT DOLLARS IN REIMBURSEMENT. YOU HAVE TO PAY FOR IT UP FRONT, BUT WE WILL HAVE THAT LINED UP TO WHERE A GOOD PORTION OF THAT DEBT IS PAID DOWN IMMEDIATELY.

ONCE THE FAA REIMBURSES US, THE OTHER THING IS WHEN YOU BUILD A ROADWAY WITH BOND DOLLARS IF YOU SPEND $100 MILLION ON ROADWAYS, EUROPEAN DEBT SERVICE FOR $100 MILLION OUT OF OUR GEO REVENUES ARE PROPERTY TAXES, SALES TAXES. WITH AN AIRPORT. SAY WE ISSUED $200 MILLION IN DEBT. WE PAY DOWN 80 MILLION OF IT, LEAVING 100 AND $20 MILLION OF DEBT TO BE SERVED, BUT WE ALSO HAVE REVENUES COMING FROM THE AIRPORT IN TERMS OF LANDING FEES. FACILITY CHARGES PARKING. ALL OF THOSE GO TOWARDS THAT DEBT SERVICE AS WELL. SO THAT LEAVES THAT GENERAL FUND WITH A FAR SMALLER PORTION OF THAT ACTUAL DEBT SERVICE TO PAY DOWN, SO THAT'S WHEN WE SAY THE CITY IS CAPABLE. THE CITY IS CAPABLE OF DOING THIS, AND WE HAVE OUR CONSULTANTS DOING FINANCIAL MODELS TO LET US KNOW. HOW MUCH THAT'S ACTUALLY GOING TO NEED TO BE PAID BY THE GENERAL FUND. SO THAT'S A STORY THAT WE'RE GONNA BE TALKING THROUGH WITH THE BOND COMMITTEE AND ULTIMATELY WITH THE VOTERS BECAUSE THIS IS GOING TO BE SOMETHING THAT GOES TO THE VOTERS WERE PLANNING ON MAY

[00:55:02]

IS THIS A GOOD PROJECT FOR MCKINNEY? BUT THAT STORY ABOUT HOW THE DEBT IS NOT FULLY COVERED BY THE GENERAL FUND IS A BIG PART OF THE STORY. IF WE WANTED TO PAY $200 MILLION IN DEBT FROM OUR GENERAL FUND, WE HAVE THE CAPABILITY TO DO THAT. OUR DEBT SERVICE COULD HANDLE THAT. WITHOUT RAISING TAXES. HOWEVER WE DON'T NEED TO AND WE DON'T NEED TO PRETEND THAT WE HAVE TO, BECAUSE ONCE WE GENERATE THE TERMINAL, WE HAVE THE HAIRLINES LINED UP AND THEY START PROVIDING SERVICE IN MCKINNEY. THEY THEY'RE KICKING OFF A LOT OF REVENUES THAT PAY DOWN A VERY, VERY LARGE PORTION OF WHAT'S REMAINING OF THAT DEBT . OTHER SOURCES WERE GOING FOR, FRANKLY WILL SAY WE'RE GOING TO APPROACH OUR NBC AND CBC BOARDS FOR A PORTION OF THAT WE'D LOVE TO HAVE TEXT DOT OR THE COUNTY OR OTHER OTHER PEOPLE WHO SEE BENEFIT IN THIS FOR THE REGION TO PARTICIPATE. AND THEN OF COURSE WE WILL BE. PENALTY THE PAVEMENT PROBABLY EVERY MONTH OR TWO IN DC, TO TALK TO EVERY AGENCY POSSIBLE. BUILD AMERICA BUREAU HAS TIFFY LOANS THAT CAN BE ISSUED, WHICH ARE LOW INTEREST LOAN PROGRAMS FOR TRANSPORTATION PROJECTS TYPICALLY USED FOR HALLWAYS AND OTHER SUCH REVENUE GENERATING PROJECTS, BUT IT COULD BE SOMETHING THAT WE ARE ABLE TO USE FOR THIS AS WELL. $300 MILLION. IS OUR PROJECT TOTAL TO GET THIS THING UNDER WAY. NEXT SLIDE. BACK TO THE KEY MESSAGES. THESE ARE THE SAME. I'M NOT GONNA REREAD THEM, BUT WE'RE LOOKING AT THE PRESIDENT. FUTURE NEEDS OF MCKINNEY AND THE REGION . WE ARE CAPABLE TO MAKE THIS HAPPEN AND WE HAVE INTERESTED PARTIES TO PROVIDE THE SERVICE NEEDED. THAT'S WHERE WE ARE TODAY. I THINK THAT'S PROBABLY MY LAST SLIDE BEFORE A Q AND A.

YES SO I WILL PAUSE HERE AND THEN I'VE GOT ABOUT A TWO MINUTE VIDEO THAT SHOWS A LITTLE BIT MORE ABOUT THE TERMINAL ITSELF. SO VERY A COUPLE OF QUESTIONS. AND I'M SURE THAT THIS IS DEPENDENT ON THE AIRLINES THEMSELVES. BUT DO WE ANTICIPATE THAT THESE WILL BE MORE REGIONAL FLIGHTS VERSUS LONG HAUL CONSULTANT TEAM ACTUALLY HAS DONE A PROFITABILITY ANALYSIS OF ROUTES SO THEY LOOK AT WHAT THE AIRLINES COSTS ARE FOR CERTAIN ROUNDS. THEY LOOK AT THEIR TYPICAL FARES FROM THE F W OR LOVE FIELD TO DIFFERENT LOCATIONS. ALL LOCATIONS REALLY , AND THEY'VE NARROWED DOWN THOSE ROUTES THEY BELIEVE THAT WILL BE PROFITABLE. INITIALLY SOME OF THEM ARE REGIONAL. BUT THERE MY MIND WHERE IT WAS GOING AS WE WOULD BE SERVING SAN ANTONIO AUSTIN, HOUSTON OKLAHOMA CITY. THOSE WEREN'T THE ROUTES THAT TURNED OUT TO BE MOST PROFITABLE. THE MOST PROFITABLE WERE PLACES LIKE CHICAGO, NEW YORK WASHINGTON D C. ATLANTA DENVER. L A X AND THEN YOU HAD YOUR RECREATIONAL ROUTES OF ORLANDO AND LAS VEGAS. IN ADDITION TO I BELIEVE HOUSTON WAS ONE THAT WORKED OUT. SO THESE ARE A NUMBER OF WRAPS OF DEBATE SHOWED AS BEING PROFITABLE BASED ON THE COST TO SERVE RELATIVE TO THE PRICE OF THE TICKET AND ASSUMING SOME THINGS LIKE PASSENGER LOAD. HOW FULL ARE THE PLANES? WHAT ARE THE FUEL COSTS? ALL OF THOSE THINGS HAVE GONE INTO THOSE, BUT THAT TELLS ME WE COULD PROVIDE SERVICE FOR A NUMBER OF CARRIERS TO A NUMBER OF PLACES. AND THEN SECOND SOMEONE ASKED ME YESTERDAY. HOW WHO IS ON THE BOND COMMITTEE? I KNOW SO WE HAVE ABOUT 35 TO 40 PEOPLE IN THE BOND COMMITTEE. UH WE HAVE A COUPLE OF MEMBERS OF YOUR BOARD ON THE BOND COMMITTEE. THEY WERE APPOINTED BY THE CITY COUNCIL. THAT IS PUBLIC RECORD. I DON'T HAVE THEM IN FRONT OF ME, BUT WE GENERALLY HAVE A COMMUNITY COMMITTEE THAT'S GOING TO FOCUS ON IMPACTS THE COMMUNITY FINANCE COMMITTEE WHO'S GOING TO DIG INTO THE NUMBERS? BUSINESS AND INDUSTRY COMMITTEE. YOU KNOW WHAT ARE THE BENEFITS FOR BUSINESSES? HOW CAN WE PROMOTE THIS? UM, WHO HAVE NOT MENTIONED WE HAVE AN INFRASTRUCTURE STRUCTURE THAT'S GOING TO GO INTO THE WHAT ACTUALLY HAS TO BE BUILT AND WHAT'S IT COST AND DO WE HAVE THE SEWER CAPACITY TO DO THIS OR WHATNOT? AND THEN WE HAVE ALSO A WE'LL WORK ON A REGIONAL OR ELECTED OFFICIAL COMMUNITY. SO WE'VE INVITED MAYORS OF ALL OF OUR SURROUNDING TOWNS TO BE PART OF THE COMMITTEE. SOME OF THEM WILL BE IN FAVOR OF THIS BECAUSE IT'S GOING TO BE POSITIVE. SOME OF THEM FRANKLY, ARE NOT GOING TO BE IN FAVOR OF THIS, BUT WE WANTED TO INCLUDE THEM IN THE PROCESS SO THAT THEY HAVE THE INFORMATION THAT THEY CAN SHARE. UM SO AND IN ADDITION TO MAYORS, WE ALSO HAVE REPRESENTATIVES FROM THE COUNTY. WE HAVE OUR STATE REPRESENTATIVES. EVERYONE INVITED SO THEY CAN BE PART OF THE TEAM. IT REALLY COMES DOWN TO THE CAPTURING THE PRIMARY AND SECONDARY. OBVIOUSLY IT COMES DOWN TO PRODUCT THAT'S OUT THERE FOR SOMEBODY TO FOR THOSE ROUTES, RIGHT? I MEAN, SO IT REALLY COMES DOWN TO WHAT? WHAT AIRLINE? WHAT ROUTES AND THAT'S WHERE STUFF IS REALLY GOING TO BE THE DRIVER. IN MY OPINION OF WHO WERE GOING TO CAPTURE WHEN IT COMES TO PRIMARY AND SECONDARY IN AS FAR AS WHERE WE CAN FLY TO CORRECT. SO HOW DO WE UM AS A CITY. HAVE ANY CONTROL

[01:00:06]

THERE'S AN OFF RAMP. WE CAN EVEN GO FORWARD WITH THE BOND. ELECTION HAVING PASSED AND THEN BEFORE WE SPEND THE MONEY TO BUILD THE TERMINAL. WE WANT TO MAKE SURE WE HAVE THINGS IN LINE. WE WANT TO MAKE SURE WE HAVE AIRLINES INTERESTED. OR SIGNED UP, AND WE KNOW WHERE THEY'RE GOING TO BE FLYING TO. UM AND IF WE DON'T, THEN WE DON'T BUILD. IT DOESN'T MEAN IT'S BAD PROJECT. IT MAY MEAN IT'S A LITTLE BEFORE ITS TIME, EVERYTHING THAT WE'VE BEEN HEARING FROM THE AIRLINES IS THAT IT'S TIME. UM SO BUT IF THAT CHANGES IF YOU KNOW, THE AIRLINE INDUSTRY HAS BEEN VERY FICKLE OVER THE LAST COUPLE OF YEARS, AND IF SOMETHING ELSE WERE TO OCCUR BECAUSE OF THE INDUSTRY TO HAVE A DOWNTURN, AIRLINES SAY, HEY, WE CAN'T DO THIS RIGHT NOW. WE HAVE AN OFFER AMPLE, AND SO I WOULD SAY WE DON'T BUILD IT AND THEY WILL COME. WE MAKE SURE THAT WE HAVE THEM LINED UP TO COME BEFORE WE BUILD IT. I THINK, UM IT WAS JUST I GOT A QUESTION, BUT JUST COMMENT, TOO. AND THAT WILL REMEMBER THIS BECAUSE BACK IN IT WAS 2008 OR 2007. SOMEWHERE IN THERE. WE WERE STUDYING THIS AND REALLY THE I WAS NEVER A MATTER OF. IT WAS MORE A MATTER OF WHEN AND I THINK IT WAS BECAUSE THINKING BACK AT THAT TIME, IMPEDIMENTS FOR NUMBER ONE. WE WERE IN THE PROCESS OF BUILDING THE NEW RUNWAY. JUST FROM AN INFRASTRUCTURE STANDPOINT AND THEN ALSO OUR POPULATION. MIX FOR COLLIN COUNTY WOODS. MUCH, MUCH SMALLER. AND SO YOU DIDN'T HAVE THAT INDEPENDENT POPULATION BASE THAT WOULD NOT NECESSARILY CANNIBALIZE LOVE FIELDER DFW WHERE AND THAT'S NOT WHERE WE'RE AT TODAY. YOU KNOW, I MEAN, THAT'S JUST MY COMMENTS ON. BUT MY QUESTION ULTIMATELY IS WITH THE TIMELINE THAT YOU PRESENTED, UM THEY'RE GONNA BE LIKE, YOU KNOW, TOWN HALL MEETINGS OR SOMETHING TO GET THE INFORMATION OUT TO THE GENERAL PUBLIC AS FAR AS VOTING ON THIS THE IMPORTANCE OF IT FROM A LONG TERM BECAUSE YOU'RE REALLY LOOKING NOT JUST 2026 BUT ALSO BENEFIT GOING INTO AS WE MOVE FORWARD, WE WILL HAVE OUR BOND COMMITTEE MEETINGS. THERE'S ANOTHER ONE COMING UP WEDNESDAY. NEXT WEEK. AND THEN THERE'S ANOTHER ONE FOLLOWING THAT, TWO WEEKS LATER AND POTENTIAL FOR MORE IF NEED BE, UH, THE COUNCIL HAS TO CALL THE ELECTION BY FEBRUARY IN ORDER FOR IT TO BE ON THE MAY OF 2023.

ELECTION. UM DURING THAT TIME, THERE'S A COUPLE THINGS. TOWN HALL MEETINGS. ABSOLUTELY WE'RE GOING TO HAVE TO SHARE THE INFORMATION. BUT ULTIMATELY AS WE'VE GONE THROUGH BONDS BEFORE , AND THOSE OF YOU HAVE BEEN PART OF MY COMMITTEES BEFORE, NO CITY STAFF CAN'T BE OUT IN FRONT OF WAVING A FLAG SAYING, HEY, VOTE FOR THIS PROPOSITION THAT THAT'S NOT ALLOWED ALLOWED BY STATE LAW, SO AT SOME POINT, THERE WILL BE MEMBERS OF THE COMMUNITY. THE BOND COMMITTEE POTENTIALLY, THAT WOULD FORM THEIR POLITICAL ACTION COMMITTEES THAT WOULD GO OUT AND ACTUALLY PROMOTE THIS TO THE PUBLIC. BUT IN IN ADDITION TO THAT WE CAN HOLD TOWN MEETINGS TO SHARE INFORMATION AND WE INTEND TO DO SO BECAUSE THE INFORMATION HAS TO GET OUT IN 2015. THERE WAS A $50 MILLION BOND. PUT ON THE BALLOT FOR THE AIRPORT. AT THAT TIME IT WAS IT FAILED. THERE WERE A COUPLE. I THINK STRATEGIC ERRORS. IN HINDSIGHT, ONE WAS WE ASKED FOR A LOT OF MONEY FOR THE AIRPORT, BUT WE REALLY DIDN'T KNOW WHAT IT WAS FOR. WE DIDN'T COMMUNICATE WHAT IT WAS FOR. IT WASN'T FOR COMMERCIAL SERVICE. BACK THEN IT WAS FOR GROWTH OF THE G A SIDE OF THE AIRPORT. WOULD HAVE BEEN VERY BENEFICIAL BECAUSE LIKE THIS AS WE SPEND MONEY TO EXTEND RUNWAYS OR WE BUILD MORE RAMP, SPACE OR HANGERS, WE GET REIMBURSEMENT FOR THAT FROM THE FAA OR THROUGH TEXT OPT FOR G A IT WOULD HAVE KIND OF BEEN LIKE THIS REVOLVING FUND. WE DIDN'T DO A GOOD ENOUGH JOB OF KIND OF RUSH THAT BOND COMMITTEE PROCESS AND WE DIDN'T DO A GOOD ENOUGH JOB OF COMMUNICATING TO THE COMMUNITY. WE HAD A LOT OF PEOPLE BECAUSE I LIVED IN WEST MCKINNEY AT THE TIME WHO WERE SAYING, I DON'T WANT TO EXPAND THE AIRPORT. I'M TIRED OF THOSE PLANES BUZZING OVER MY HOUSE. WELL, THAT'S NOT OUR AIRPORT. THAT'S A REAL COUNTRY. THAT'S TRUE. THAT IS NOT MCKINNEY'S AIRPORT. MCKINNEY'S AIRPORT IS EAST.

DOWNTOWN AND A LOT OF PEOPLE IN WEST BIKINI DID NOT KNOW THE DIFFERENCE. ALL THEY KNEW WAS AT 6 30 ON A SATURDAY MORNING. THOSE PLANES ARE BUZZING YOUR ROOFTOPS AND THEY. OF INFORMATION WAS INSUFFICIENT AT THAT TIME. FURTHERMORE, WE ALSO ASKED FOR $50 MILLION AND SAID, FOR US TO DO SOME STUFF AT THE AIRPORT, AND THAT WAS TOO GENERIC FOR PEOPLE TO TRUST THE CITY WITH $50 MILLION TO DO WHAT'S RIGHT. THIS IS VERY SPECIFIC AND HAS A PURPOSE THAT IS RELATABLE AND USABLE FOR OUR GENERAL PUBLIC. IT'S NOT BUILDING MORE HANGERS FOR

[01:05:04]

PARTNER WITH THE RIGHT PEOPLE. WE'RE NOT GOING TO HAVE ANY SHORTAGE OF INTERESTED PARTIES WANTING TO PARTICIPATE IN THIS PROJECT FROM THE DESIGN. AND THE CONSTRUCTION STANDPOINT AND THE OPERATION OF THE TERMINAL AND FUNDING AND FINANCING OF THE TURMOIL. EVERYONE IS KNOCKING AT OUR DOOR. WITH THE FBI TERMINAL. WE WERE LIMITED TO I THINK THERE WERE TWO RESPONDENTS AT THAT TIME. WE PICKED ONE. THEY WENT BANKRUPT. WE FLOPPED OVER TO THE OTHER ONE TO FINISH THE PROJECT , AND THEY WENT BANKRUPT. UM AND SO NOW, THE SURETY THAT WE HAVE IN PLACE IS GOING TO FINISH THE PROJECT FOR US. AND I THINK THAT CITY MANAGER PROBABLY SIGNED A DOCUMENT ALLOWING OR NOTES ON THE AGENDA AND THE AGENDA FOR TONIGHT FOR THE CITY COUNCIL. TO ALLOW THE SURETY TO TAKE OVER THE PROJECT, SO THE INSURANCE IS GOING TO FINISH THE PROJECT FOR US. SO THE FIRST LESSON IS HIRE THE RIGHT PEOPLE. THE RIGHT PARTNERS TO GET THIS DONE. THE SECOND IS MAKE SURE WE HAVE EVERYTHING IN LINE AND WE HAVE IT ALL SET UP BOTH FROM THE ENVIRONMENTAL ANALYSIS STANDPOINT, THE DESIGN IS DONE CORRECTLY. WE'VE ALLOWED FOR THE ESCALATION IN PRICING. THE FIRST PARTNER ON THE FBO TERMINAL. THEY GAVE US A GREAT PRICE. HE JUST COULDN'T BUILD IT FOR THAT PRICE, SO WE NEED TO MAKE SURE THAT WE BUILD IN THE ESCALATION. WE'RE ALSO TAKING CITY HALL. FOR THE CONTRACT. THE PRICE IS GOING UP ON CITY HALL. IT'S A VERY EXPENSIVE BUILDING BECAUSE OF THE ENVIRONMENT, INFLATIONARY ENVIRONMENT. WE'RE IN RIGHT NOW, ESPECIALLY ON CONSTRUCTION PROJECTS. BUT WE BUILT THAT INTO THE PLAN. WE KNEW WE WERE INCREASING CONSTRUCTION COSTS 1.5% EVERY SINGLE MONTH 18% A YEAR AND WE EVEN EXCEEDED THAT A LITTLE BIT. BUT WE HAVE BUILT IN THAT 18% A YEAR THAT ALLOWED US TO PLAN FOR THE MONEY NECESSARY TO GET IT DONE. FBO TERMINAL WE DID NOT OKAY ALL THIS AND WE TRUSTED HIM AND IN THE END HE WAS FAR SHORT. SO I DON'T KNOW ANYTHING ABOUT AIRPORTS, BUT I HAVE A COUPLE OF THOUGHTS. UM AT SOME POINT IT MIGHT BE USEFUL TO LOOK AT CUMULATIVE INVESTMENT IN THE AIRPORT TODAY AND WHAT THE RETURN IS BECAUSE I DON'T THINK MOST CITIZENS HAVE ANY IDEA. ABOUT ALL THAT WORKS, AND THEN YOU CAN FORWARD. SAY. OKAY, HERE'S ANOTHER. ASKED BY THE CITY. UM BECAUSE HONESTLY, I DON'T THINK ANYBODY AS ANY IDEA OF HOW ACTIVE THAT AIRPORT IS. AND WHAT KIND OF ECONOMIC BENEFIT IT ALREADY HAS. AND THEN MY GUESS IS THIS IS ALL GOING TO COME DOWN TO LOAD FACTORS IF THE PLANES ARE FULL NUMBER OF FLIGHTS WILL EXPLORE HER IN FOR PLANES ARE EMPTY. THE FLIGHTS WILL STOP. THAT'S HOW I HAVE. I HAVE NO IDEA HOW YOU MODEL THAT. I JUST DON'T KNOW, BECAUSE, ISN'T IT? THE AIRLINES PRIMARY RESPONSIBILITY TO ATTRACT UM PASSENGERS WERE NOT THEY'RE RESPONSIBLE FOR THAT. NOT US. IS THAT FAIR? SO THEY ARE RESPONSIBLE FOR THAT, BUT WE HAVE A GOOD PART IN THAT AS WELL IN TERMS OF HOW WE ONCE WE BUILD OUR TERMINAL, WE HAVE TO MARKET THE TERMINAL. NOT JUST THE PEOPLE IN MCKINNEY IN SHERMAN AND DENNIS AND WE HAVE TO MARKET IT TO PEOPLE IN BALTIMORE AND WHAT YOU KNOW. INDIANAPOLIS OR WE NEED PEOPLE BUYING TICKETS TO LEAVE HERE AND BUYING TICKETS TO COME HERE USING OUR AIRPORT AND MARKETING IS A BIG PART OF THAT THAT WE WILL HAVE A BIG RESPONSIBILITY AND AS WELL, SO WE WANT TO BUILD THE RIGHT TERMINAL. THAT PROVIDES THE RIGHT EXPERIENCE. ONE OF THE THINGS THAT GIVES US AN ADVANTAGE. BEING A SMALLER AIRPORT LIKE THIS. UM AND I USE THIS EXAMPLE IF I HAD TO CATCH A FLIGHT FROM HERE TO THE SEA, AND I COULD FLY FROM LOVE FIELD DIRECT REAGAN OR I COULD FLY FROM MCKINNEY TO ATLANTA TO REAGAN. WELL, IF I WAS LEAVING AT EIGHT A.M. IN THE MORNING. LET'S CALL. LET'S CALL NINE AM, THAT'S THE WORST SCENARIO FOR LOVE FIELD. IF I WERE LEAVING TO FLY OUT AT NINE A.M. FROM LOVE FIELD, DIRECT FLIGHT, I WOULD LEAVE MY HOUSE I LIVE OFF OF 3 80. I WOULD HAVE TO LEAVE. MY HOUSE, AT LEAST MAYBE 3.5 HOURS BEFORE MY FLIGHT TIME. SO I GIVE MYSELF ENOUGH TIME TO FIGHT RUSH HOUR TRAFFIC TO GET DOWN THERE AND THEN GIVE MYSELF AN HOUR AND A HALF OR SO TO GET THROUGH SECURITY AND GET TO MY GATE. HERE I LIVE 20 MINUTES AWAY FROM THE AIRPORT. IT'S A PRETTY RELIABLE 20 MINUTES AWAY. I CAN GET THROUGH SECURITY INTO MY GATE AND UNDER I COULD PROBABLY ARRIVE AT THE AIRPORT 45 MINUTES BEFORE MY FLIGHT, WHICH MEANS I LEAVE MY HOUSE. THIS SCENARIO.

IN MCKINNEY. I LEAVE MY HOUSE AN HOUR TO AN HOUR AND 10 MINUTES BEFORE MY FLIGHT TIME. LOVE

[01:10:02]

INITIALLY WE CAN EXPAND TO 16 GATES. WITHOUT HAVING TO BUY ANY MORE LAND. SO THAT'S ONE OF THE BENEFITS IS THE CITY COUNCIL. THERE YOU GO THAT ONE THERE SO THIS IS ACTUALLY THE HOLDING PEN RIGHT HERE HOLDING AREA. FOR THE FOUR GATE. I'M SORRY. I'M LOOKING AT THE WRONG WAY. THERE YOU GO HOLDING AREAS RIGHT THERE. WE CAN EXTEND EIGHT GATES THIS WAY WITHOUT BUYING ANY MORE LAND AND EVEN FURTHER IF WE NEEDED TO AND FOR GATES THIS WAY. SO WE COULD BE UP TO 16 GATES WITH EASILY WITHOUT BUYING ADDITIONAL PROPERTY WE OWN. THAT EVERYTHING IN THAT RIGHT THERE SO WE CAN EXTEND THAT LARGE. WE ACTUALLY COULD ADD A COUPLE GATES WITHOUT EVEN HAVING TO INCREASE THE SIZE OF THE BAGGAGE CLAIM. WE HAVE ENOUGH ROOM FOR A THIRD BAGGAGE CLAIM CAROUSEL.

AH! COVERED PARKING UNCOVERED PARKING IF WE WERE TO GROW, THIS UNCOVERED, PARKING BECOMES MULTILEVEL PARKING STRUCTURE. AND THEN AT THAT POINT, YOU WOULD MOVE YOUR RENTAL CAR PARKING INTO THIS LIKE YOU SEE IN A LOT OF AIRPORTS, WHERE THE GROUND FLOORS, YOUR SERVICE DESKS AND GROUND FLOOR, MAYBE SECOND FLOOR OR THE CARS THEMSELVES IN THIS EXPANSION HAS NO NEGATIVE IMPACT ON THE CURRENT UM. AIRLINES THAT WE USE OUT OF CURRENT TKR. NOW A G A SERVICES WILL NOT BE IMPACTED INITIALLY, UM CORPORATE AND OTHER JET AIRCRAFT WILL WILL BE ABLE TO OPERATE HERE. UM, REGARDLESS OF HOW LARGE WE ARE LEFT FIELD IS ONE OF THE BUSIEST AIRPORTS IN THE COUNTRY IN ADDITION TO WHAT THEY HAVE ON THE COMMERCIAL SIDE, ONE THING INITIALLY, THERE WON'T BE IMPACTED WOULD BE THINGS LIKE TRAINING FLIGHTS RIGHT NOW WE HAVE A LOT OF, YOU KNOW, SINGLE PISTON ENGINE. TRAINING FLIGHTS THAT DO TOUCH AND GOES, SO THEY'RE KIND OF IN A CONSTANT CIRCLE AROUND THE AIRPORT. UM BECAUSE WE'RE LOOKING AT 12 DEPARTURES DAILY. THAT'S NOT THAT BIG OF AN IMPACT. THEY TELL US USUALLY THERE WILL BE A PUSH IN THE MORNING SO THERE WILL BE FOUR OR SIX FLIGHTS THAT TAKE OFF. YOU KNOW 8 TO 10, AND THEN THERE WILL BE A COUPLE THROUGHOUT THE DAY AND THEN THEY'RE PROBABLY A PUSH LATER IN THE AFTERNOON, AND THEY WOULD BE ABLE TO WORK IN AROUND THAT IF WE GOT TO THE 16 GATES AND A LOT MORE DEPARTURES. THEN THAT TRAINING LEVEL FLIGHT MAY BE IMPACTED IN THE FUTURE. BUT THAT PROBABLY WON'T HAPPEN IN MY CAREER. AND MAYBE NOT MY LIFETIME THAT WE GET THAT BIG.

BUT IF WE DO, IT'S A GOOD IT'S A GOOD PROBLEM TO HAVE. OKAY. I THINK YOU'RE TELLING. TELL ME IF I'M WRONG, BARRY, BUT I THINK THE ONE OF THE GREAT KEYS TO THIS IS AND IF YOU GO BACK TO WHAT BRIAN MENTIONED IN, OH, SEVEN AND I'M SURE A MYRIAD OF OTHER SENSE. THERE'S BEEN PRIVATE ENTITIES AND GROUPS THAT HAVE WANTED I WANTED TO DO THIS , JUST LIKE A LOT OF OTHER THINGS THAT THE AIRPORT LEASED THE LAND FROM US, AND WE LET THEM HANDLE IT AND I THINK THE BEAUTY OF THIS IS THE CITY IS DOING THIS AND WE'RE GONNA CITY IS GOING TO CONTROL IT IN THE

[01:15:06]

AND, UM THERE'S A LOT OF VALUE LONG TERM. TO THE. CITIZEN REALLY NOT JUST BEING ABLE TO GO CATCH A FLY, BUT FROM A REVENUE PERSPECTIVE AND. JUST THE BENEFIT THE WHOLE ECONOMIC IMPACT TO THE COMMUNITY. I THINK IT'S A HUGE AND I'M I'M REALLY GLAD YOU ALL DECIDED TO GO THIS ROUTE INSTEAD OF FINDING THE BEST SUITOR TO COME IN HERE AND DO IT ON THEIR ON THEIR TERMS IN THE WAY THEY WANT TO DO IT. WE LOOKED AT ALL OPTIONS, RIGHT? AND THERE ARE SOME PRIVATELY OWNED AIRPORTS. BUT THE VAST MAJORITY OF AIRPORTS IN THE UNITED STATES ARE PUBLICLY OWNED AIRPORTS, EITHER THROUGH A PORT AUTHORITY LIKE YOU'D SEE AT LAGUARDIA AND JFK AND WHATNOT OR THROUGH MUNICIPALITIES. AUSTIN BERGSTROM AIRPORT IS OWNED BY THE CITY OF BOSTON. HOWEVER THEY DO HAVE A PRIVATE TERMINAL ON THE OTHER SIDE OF THE RAMP SPACE THAT IS PRIVATELY OWNED. SO WE'VE LOOKED AT ALL MODELS AND WE HAD IN THE CITY COUNCIL THROUGH CONSULTATION WITH OUR CONSULTANTS. DECIDED THAT IT WAS BEST FOR US TO OWN AND CONTROL THE AIRPORT. IT DOESN'T MEAN THAT WE WILL OPERATE THE TERMINAL IN TERMS OF HIRING JANITORS AND CONCESSIONAIRES AND THINGS LIKE THAT. WE MAY BRING SOMEONE IN TO DO THOSE KIND OF THINGS, BUT THE PROPERTY AND THE TERMINAL ITSELF WOULD BE CITY OWNED UNDER THIS MODEL. IT WAS DONE. THANK YOU. I THINK IT'S AN EXCELLENT MOVE BY THE CITY COUNCIL. WE LOOK FORWARD TO IT. I LOOK FORWARD TO THAT SHORT DRIVE TO GET TO THE AIRPORT IN THE FUTURE. SO GREAT, EXCITING THANKS FOR HAVING ME AND WILL KEEP THE BOARD UPDATED AS WE PROGRESS. THANK YOU. THANK YOU. ALRIGHT SO, UM, TO THE 0986

[Consider/Discuss/Act on Resolution Appointing MEDC Standing Committees]

[EXECUTIVE SESSION]

[ACTION ON EXECUTIVE SESSION]

[01:20:04]

RIGHT MOTION PASSES. AND LASTLY , COULD I GET A MOTION TO END EXECUTIVE SESSION? SOME MOVED.

SECOND THAT. ALL RIGHT. MEETING ADJOURNED. EVERYBODY HAVE A GOOD REST OF THE WEEK. ALRIGHT WELL DONE, MR. YES. TIRED GAVELING? YEAH

* This transcript was compiled from uncorrected Closed Captioning.