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

HAVE CITY MCKINNEY. KIM. GOOD MORNING MCKINNEY ECONOMIC DEVELOPMENT CORPORATION. KIM FLAM PINCH HITTING FOR PAUL GRAHAM'S TODAY A FEW UPDATES FOR YOU AND I'M GOING TO GO IN ORDER OF WHEN THESE THINGS ARE GOING TO HIT COUNCIL BECAUSE SEVERAL OF THEM WILL BE DISCUSSED AT COUNCIL IN THE UPCOMING WEEKS. FIRST OUR CITY HALL. CONSTRUCTION IS COMING ALONG VERY WELL. IN FACT, THERE WAS A TOPPING OUT CEREMONY A FEW WEEKS AGO. WHAT DOES THAT MEAN FOR THIS BUILDING? WHAT DOES THAT MEAN FOR THE OTHER BUILDINGS THAT ARE VACATED ACROSS THE STREET IN NEARBY WELL? WE HAVE GONE OUT FOR A REQUEST FOR QUALIFICATIONS FOR DEVELOPERS TO PARTNER WITH SOMEONE TO REDEVELOP THESE SPACES, AND OUR THREE FINALISTS WILL BE MAKING PRESENTATIONS TO COUNCIL ON NOVEMBER 28TH AT 5:30 P.M. IN THIS ROOM. THE THREE FINALISTS ARE HEINZ KNACK WITH AN N AND M TWO G M TWO GR LOCAL HEINZ NATIONAL THAT HAS DONE A LOT IN THE DFW AREA. THE MEETING WILL INCLUDE PRESENTATIONS. MEET AND GREAT AND WE'LL ALSO BE ASKING FOR FEEDBACK FROM THE PUBLIC, SO ANYONE WHO'S WATCHING ONLINE OR ATTENDING IN PERSON WILL BE ASKING FOR THAT FEEDBACK, AND WE ANTICIPATE THAT COUNCIL AND THEN DELIBERATE AND POSSIBLY SELECT A DEVELOPER SHORTLY THEREAFTER. AND DECEMBER 5TH. AND THERE ARE TWO TOPICS THAT WILL BE ON DISCUSSION FOR WORK SESSION, AND THEY INCLUDE THE LOWER FIVE PLAZA, WHICH IS THE PEDESTRIAN CONNECTION ACROSS STATE HIGHWAY FIVE AND THERE WILL ALSO BE SOME INFORMATION PRESENTED ON THE AIRPORT AS WELL. AND DECEMBER 19TH. WE WILL BE GIVING AN UPDATE FROM OUR BAND COMMITTEE MEETINGS, SO THE BAND COMMITTEE HAS MET FOUR TIMES. THREE OF THEM WAS THE FULL GROUP. ONCE WAS THE EXECUTIVE COMMITTEE AND THE RESULTS AND INFORMATION FROM THAT WILL BE PRESENTED DECEMBER 19TH THAT WILL PREP THE COUNCIL FOR A DECISION AS TO WHETHER THEY WANT TO CALL A BAND ELECTION FOR 2024. THIS IS I DON'T WANT TO CALL IT STANDARD NECESSARILY, BUT THIS IS THE BAND THAT USUALLY COMES OUT EVERY FIVE YEARS THAT COVERS AREAS LIKE TRANSPORTATION, PARKS , FACILITIES, ETCETERA, PUBLIC SAFETY. FINALLY, THIS IS A WEEK TO BE GRATEFUL, AND WE ARE VERY GRATEFUL TO THE CITY OF MCKINNEY BECAUSE THE DALLAS MORNING NEWS A FEW WEEKS AGO AWARDED US AS ONE OF THE TOP PLACES TO WORK IN THE LARGE COMPANY CATEGORY. WE WERE THE ONLY LOCAL GOVERNMENT MUNICIPAL GOVERNMENT. ANY GOVERNMENT ORGANIZATION THAT WAS AWARDED IT AND WE WERE VERY, VERY PROUD OF THAT. FINALLY WISH YOU ALL A VERY WONDERFUL THANKSGIVING HOLIDAY TO YOU AND YOUR FAMILY. I STAND FOR ANY QUESTIONS. QUESTIONS. I'M THANKFUL THAT RIDGE ROADS ALMOST DONE. IT'S SO CLOSE. I'M STILL TELLING PEOPLE END OF THE YEAR, THOUGH. JUST TO BE SAFE, OKAY? ALL RIGHT. THANK YOU VERY MUCH. HOPE YOU ALL HAVE A GOOD THANKSGIVING. CHAMBER OF COMMERCE. ALL RIGHT. MIGUEL. GOOD MORNING, MR CHAIRMAN, MR PRESIDENT AND MEMBERS OF THE BOARD CATHERINE MIGUEL FILLING IN FOR CINDY THIS MORNING. JUST A FEW HIGHLIGHTS FOR THINGS THAT ARE GOING ON WITH THE CDC. UM APPLICATIONS FOR THE FIRST CYCLE OF PROMOTIONAL GRANTS ARE OPEN NOW AND WILL RUN THROUGH NOVEMBER 30TH APPLICANT PRESENTATIONS ARE SCHEDULED FOR THE DECEMBER BOARD MEETING AND ACTION WILL HAPPEN IN JANUARY. 2024 AT OUR BOARD MEETING THE PROJECT GRANTS WHICH ARE THE BIG BIG GRANTS THAT WE DO EVERY YEAR. UM THAT FIRST CYCLE OPENS ON DECEMBER 1ST RUNS THROUGH THE END OF DECEMBER PUBLIC HEARINGS ON APPLICATIONS THAT ARE SUBMITTED ARE SCHEDULED FOR THE JANUARY 20. 24 BOARD MEETING AND THEN WE'LL TAKE ACTION IN FEBRUARY. YOU HAVE A FULL PACKET OF INFORMATION THIS SUMMER ARE GRANT REVIEW SUBCOMMITTEE SPENT A LOT OF TIME UPDATING, REVIEWING AND STREAMLINING OUR GRANT APPLICATION PROCESS. WE'RE REALLY PLEASED THAT IT WILL BE AN ONLINE PROCESS ONLY THIS YEAR , SO LINDA WILL NOT HAVE TO DEAL WITH LOTS OF PAPER. THAT THAT'S ATTACHED TAPS BREWERY MOVING ALONG LOOKING FOR FINAL

[00:15:03]

COMPLETION. MAYBE IN JANUARY, THEIR UPDATES AND PHOTOS ATTACHED TO YOUR REPORT. LOTS OF THINGS GOING ON THAT WE'RE PROUD TO SPONSOR AND HAVE PARTNERSHIP IN THE WEEKLY FARMER'S MARKET.

JANUARY THROUGH DECEMBER, HOME FOR THE HOLIDAYS ON THE 24TH THROUGH THE 26TH OF THIS MONTH.

MCKENNEY REPERTORY THEATER A CHRISTMAS CAROL OPENS NOVEMBER 24TH AND 25TH AND THEN AGAIN IN DECEMBER 8TH AND NINTH THEY MCKINNEY PHILHARMONIC ORCHESTRA DOES THEIR ALL STAR CHRISTMAS ON DECEMBER 2ND. THEY ROTARY FOUNDATION PARADE OF LIGHTS ON THE NINTH OF DECEMBER. AND THEN THE 50TH HERITAGE GUILD HOLIDAY TOUR OF HOMES HAS TWO DATES THIS YEAR. DECEMBER 2ND AND THIRD FOUR DATES, I GUESS. TWO DIFFERENT SESSIONS, DIFFERENT SERIES TWO SERIES OF HOUSES. SO IF YOU HAVE IF YOU HAVEN'T DONE THAT, IT'S REALLY A VERY FUN ACTIVITY, AND THEY SPLIT IT INTO TWO WEEKENDS. DECEMBER 2ND AND THIRD AND THEN DECEMBER 9TH AND 10TH. AND THAT'S ALL I HAVE.

RIGHT? ANY QUESTIONS? THANK YOU. HAPPY THANKSGIVING. ERIN MCCAIN. GOOD MORNING, MR. CHAIR, MR PRESIDENT. MEMBERS OF THE BOARD. ERIN WARNER EXECUTIVE DIRECTOR VISIT, MCKINNEY ECHOED THAT HAPPY EARLY THANKSGIVING TO EVERYONE TO KIND OF KICK IT OFF THIS MORNING SINCE THE LAST TIME WE MET, WE RECEIVED OUR END OF THE YEAR PHYSICAL PHYSICAL YEAR NUMBERS AS FAR AS HOT TAX GOES IN THE CITY OF MCKINNEY, SO I'M HAPPY TO REPORT THAT LAST YEAR FY 22 WE RECEIVED OUR FY 23 RECEIVED $2.9 MILLION IN HOT TAX FOR THE CITY OF MCKINNEY. THAT WAS A 21% INCREASE. REESE FROM FY 22. A TOTAL OF A HALF A MILLION DOLLAR INCREASE FROM WHAT WE COLLECTED THE PREVIOUS YEAR. SO OVERALL, IT'S A IT'S A HEALTHY SIGN FOR THE HOSPITALITY INDUSTRY IN MCKINNEY AND KIND OF WHERE WE'RE HEADED. IT ALSO SHOWS SOME SIGNS OF MAXING OUT SOME OF OUR PROPERTIES AS WELL.

THERE WERE THERE WAS ONE MONTH IN JUNE AND THAT WE ACTUALLY HIT 80% OCCUPANCY CITYWIDE, WHICH WAS THE FIRST TIME WE'VE CROSSED. OUT OF THE SEVENTIES INTO THE EIGHTIES AND A COUPLE OF MONTHS. WE WERE RIDING THAT RIGHT THERE. BUT THAT MEANS YOUR WEEKENDS AND MCKINNEY ARE BASICALLY MAXED OUT, MAXED OUT AND WE HAVE A LITTLE OPPORTUNITY MIDWEEK TO TRY TO ELEVATE SOME OF OUR CORPORATE BUSINESS AND STUFF. WE'RE WORKING ON THAT WITH SOME OF OUR HOTEL PROPERTIES, BUT OVERALL, VERY HEALTHY SIGN FOR HOSPITALITY LAST YEAR IN MCKINNEY, ANOTHER THING TO KEEP ON YOUR RADAR. NC A D. TWO FOOTBALL IS COMING TO TOWN. DECEMBER 15TH IS GOING TO BE FAN FEST AT TUBS BREWERY. THIS WILL BE AT THE COTTON MILL LOCATION OF TOPS FOR THIS YEAR LAST YEAR TO HAVE IT AT THAT LOCATION. WE I DO WANT TO THANK PUBLICLY THE COTTON MILL FOR LETTING US USE THEIR PARKING THEIR GRASS PARKING OUT THERE FOR THIS EVENT. YOU KNOW, PARTNER GET TIED OVER THERE, AND THEY HAVE DONATED THAT TO US FOR THIS YEAR. UM LASTLY, OUR GRANT CYCLES THEY THE APPLICATIONS WERE DUE EARLIER OR LAST WEEK, AND WE WILL HAVE THOSE PRESENTED AT OUR NEXT MEETING FOR OUR PROMOTIONAL GRANTS. WE HAVE AT LEAST ONE BRAND NEW EVENT COMING IN 2% TO WHICH IS SOMETHING WE ALWAYS LIKE TO SEE WHEN WE DO THIS PROMOTIONAL GRANTS AND SO EXCITED TO HAVE THAT AND I'LL STAND FOR ANY QUESTIONS. QUESTIONS. THANK YOU. THANK YOU, SIR. ALRIGHT BDC COMMITTEE UPDATES ANYTHING FROM FINANCE NO, SIR. THE GOVERNMENT DOES NOT MET MARKETING. JULIA'S NOT HERE, BUT NO. INNOVATION. OKAY? REAL ESTATE. WELL STATEMENT EARLIER, UM MID LAST WEEK, AND WE DO HAVE A FEW THINGS TO GO OVER WITH YOU AND THE EXECUTIVE SESSION.

GREAT. ALL RIGHT. JUST A FEW COMMENTS HAVE IN FRONT OF YOU. DRAFT OF THE COMMITTEE ASSIGNMENTS OR PROPOSED COMMITTEE ASSIGNMENTS. I JUST READ THESE OFF FOR PUBLIC CONSUMPTION FINANCE, KURT MARK AND SCOTT. GOVERNANCE IS MYSELF CURTAIN THAN INNOVATION. MARCH.

CHANTELLE AND MATT. MARKETING JULIE SHANTEL AND MATT AND REAL ESTATE JULIE, DAD AND SCOTT. AND I THINK THESE HAVE ALL BEEN CIRCULATED. SO IF EVERYBODY IS. GOOD WITH THOSE APPOINTMENTS AND THE MEETING DATES ARE LISTED ON THE DRAFT THAT WAS GIVEN TO YOU ALL THEN MR HAUSER, DO WE NEED WE NEED A MOTION AND WE'RE GOING TO I'M AHEAD OF THE GAME. WELL. LET'S DO IT DURING MY COMMENTS BECAUSE THEN I WOULDN'T HAVE ANY COMMENTS. LET'S MOVE TO APPROVE THE COMMITTEES AS PROPOSED.

[00:20:05]

THANKS 2ND 2ND 2ND. WE HAVE A MOTION BY MR BENSON SECOND MR WOODRUFF ON THIS WORKING NOW.

THE TECHNOLOGY ISSUES. WE'RE HAVING HAD NOTHING TO DO WITH OUR ABILITIES IN THE INNOVATION.

CAN STADIUM DROP. DO ANYTHING FOR US ON THIS? I'M NOT GETTING A VOTING BUTTON, BUT OKAY ALL IN FAVOR. PASSES AND OTHER THAN THAT, JUST WANT TO WISH EVERYBODY A HAPPY THANKSGIVING AND AS WE GET INTO THE HOLIDAY SEASON AND DOWNTOWN AREA DECORATIONS ARE LOOKING FANTASTIC FOR HOME FOR THE HOLIDAYS, WHICH IS GREAT ANNUAL EVENT THAT WILL BE HAPPENING HERE REAL SOON. AND WE HAVE OUR UPCOMING IT IS C CHRISTMAS CELEBRATION. UNFORTUNATELY, I WILL BE OUT OF STATE FOR THAT. AND IT'S UNFORTUNATE BECAUSE I HAVE TO GO TO ANOTHER WEDDING AND I GUESS THAT'S OKAY AND ANYWAY, WISH ALL HAPPY HOLIDAY. IN CELEBRATION. AND SO WITH THAT WE'LL GO ON TO THE REGULAR AGENDA. CONSIDER DISCUSS ACT ON SEPTEMBER FINANCIALS CHANCE WHAT OH, I'M TRYING TO GET THROUGH THE MEETING QUICKLY. WE'RE NOT DOING THAT. ALRIGHT CONSIDER

[Consider/Discuss MEDC Monthly Reports]

DISCUSSING BDC MONTHLY REPORTS. SORRY, GUYS. THANK YOU, MR CHAIRMAN. THAT'S JUST A FEW COMMENTS EVEN 81 YET. JUST A FEW COMMENTS MORE IN THE MODE OF THE SAME THINGS. I THINK EVERYBODY WHO COMES TO THE PODIUM AND SHARES UPDATES WITH US EVERY MONTH. I DO THE SAME THING FOR OTHER BOARDS AND COMMISSIONS AND TAKE TIME OUT OF YOUR DAY. AND YOU PREPARE. WE REALLY APPRECIATE THAT HELPS US UNDERSTAND WHAT'S HAPPENING BEYOND THE WORLD WE LIVE IN. SO THANK YOU VERY MUCH FOR THAT. THANK YOU TO ALL THE BOARD MEMBERS WERE IN COMMITTEES.

QUITE OFTEN, WE MUST ASSEMBLE A COMMITTEE TO DISCUSS SOMETHING PRETTY QUICKLY. AND YOU FOLKS, ALL ARE AVAILABLE. AND SO WE APPRECIATE THAT VERY, VERY MUCH. AND TO MY TEAM. UM THANK YOU.

FOR ALL THE EVENTS ARE GOING TO THESE PAST COUPLE OF MONTHS. THIS IS A ROUGH TIME OF THE YEAR. WITH THE AMOUNT OF EXPOS AND EVENTS AND CONFERENCES WE MUST ATTEND TO STAY RELEVANT IN THE MARKET SPACE TAKES TIME WITHIN OUR FAMILY, SO THANK YOU FOR DOING THAT. AND LASTLY, WE HAD OUR TECH AND TRUCKS EVENT LAST WEEK, GREAT TURNOUT CLOSE TO 100 PEOPLE SHOWED UP. IT'S A GREAT WAY FOR PEOPLE IN THE INNOVATION FUND TO MEET NEW PEOPLE. A LOT OF PEOPLE CAME FROM DALLAS BECAUSE OF OUR WORK IN DALLAS. UH AN INNOVATION EVENT HELD A COUPLE WEEKS AGO.

HEARD ABOUT MCKINNEY. DROVE DOWN HERE TO MEET US TO FIND OUT WHAT WE'RE DOING. I'M A FIRM BELIEVER IN ORGANIC GROWTH IN THAT RESPECT, SO THANK YOU, KURT FOR JOINING US AND VISITING THAT EVENT, SO CHAIRMAN THAT CONCLUDES MY UPDATE THERE, MR TALLY OR SENIOR VICE PRESIDENT, SPEAKER IF YOU WORDS ABOUT OUR PROJECTS. THANK YOU, MR KOWSKI. THANK YOU. BOARD. UM YOU KNOW, I WANT I WANT TO ECHO WHAT? UH, MICHAEL SAID ABOUT ONE OR BOARD WE HAD A. WE HAD A SITE VISIT LAST WEEK WITH A COUPLE OF OUR BOARD MEMBERS AND IT IT TAKES A LOT OF TIME OUT OF THEIR NORMAL, SCHEDULED TO COMMIT TO THOSE TYPES OF TRIPS AND THE SUBCOMMITTEES AND SO I REALLY DO APPRECIATE THE OPEN MINDEDNESS OF OUR BOARD AND THE COMMITMENT THEY HAVE ONE ON THE DIFFERENT EVENTS. WE DO ALSO WANT TO THANK OUR STAFF AS WELL, I THINK WE TALK ABOUT PROJECT PIPELINE. WE TALKED ABOUT OUR FPS WE GET FROM THE GOVERNOR'S OFFICE AND THE DALLAS REGIONAL CHAMBER. BUT ADAM AND STADIUM DROP IS A PERFECT EXAMPLE OF WHAT HAPPENS ORGANICALLY. THROUGH RELATIONSHIPS, SO FROM THE TOP OF OUR ORGANIZATION ALL THE WAY DOWN TO MELANIE AT THE FRONT DESK. IT'S ABOUT RELATIONSHIPS AND THAT WE HAVE THROUGHOUT THE COMMUNITY AND THROUGH THE BROKERS AND CONSULTANTS OF THE WORLD. WE GET PROJECTS OF ALL SORTS AND SIZES. SO ACTIVE PROJECT PIPELINE IS AT 32. BUT I WANT TO TALK ABOUT THE ORGANIC PIECE, BECAUSE, UM TRADITIONAL RFP S FROM THE GOVERNOR'S OFFICE HAS SLOWED DOWN A BIT THE LAST FEW MONTHS. YOU LOOK AT THE ECONOMY, YOU LOOK AT THE THINGS THAT HAVE BEEN HAPPENING ACROSS THE WORLD. UM THINGS HAVE SLOWED DOWN A BIT. AS FAR AS THE DECISION MAKING THE MARKETS HAVE CERTAINLY CHANGED A BIT WITH THE INTEREST RATES. BUT THAT'S WHY THOSE RELATIONSHIPS AND US BEING OUT AND ABOUT AND BEING VISIBLE AND PRESENT AT THESE DIFFERENT EVENTS IS SO IMPORTANT ON KEEPING THAT PROJECT PIPELINE ROBUST, SO JUST WANT TO THANK OUR TEAM AND OUR WORD FOR EVERYTHING THEY DO IN ALL STAND FOR ANY QUESTIONS. QUESTIONS. ALRIGHT, HAPPY THANKSGIVING. THANK YOU. THANK YOU. WE'LL SPEND A MOMENT ALSO LOOKING AT A MARKET REPORT. LOOK. GOOD MORNING, MR CHAIRMAN, MR

[00:25:05]

PRESIDENT. MEMBERS OF THE BOARD WANT TO JUST GIVE YOU INSIGHT INTO SOME DATA? YOU CAN SEE ALL THE ANALYTICS IN OUR USUAL MARKETING REPORT REPORT ATTACHED TO YOUR REPORTS IN THERE, BUT I WANT TO HIGHLIGHT JUST A COUPLE OF THINGS. NUMBER ONE. I'LL TOUCH ON THIS. THIS ISN'T ON THE DASHBOARD, BUT I'LL TOUCH ON THE IDEA OF PRESIDENT JUST MENTIONED ALL THE EVENTS AND THINGS WE'VE BEEN TOO ONE THING WE'RE TRYING TO DO IS CAPITALIZE BETTER ON THOSE SPONSORSHIPS. SO ANY EVENT THAT WE GO TO? WE USUALLY TRY TO ATTAIN AN EMAIL LIST OF ALL THE ATTENDEES FROM THAT EVENT. I'LL HIGHLIGHT DALLAS STARTUP WEEK. SO MIKE WILKES WENT THERE A FEW TWO MONTHS AGO AT THIS POINT, AND FROM THAT EVENT WE RECEIVED ALL THE ATTENDEES WAS THAT LIST OF 1700 PEOPLE, WE SENT A FOLLOW UP EMAIL MENTIONING THE INNOVATION FUND OF WHAT WE DO IN MCKINNEY, AND WE GOT A 58% OPEN RATE ON THAT ONE EMAIL, WHICH IS UNHEARD OF THAT'S USUALLY YOU COULD EXPECT 18 TO 25% ON A COLD EMAIL LIKE THAT. AND SO MIKE'S EMAIL STAYED PRETTY BUSY AFTER THAT, AND IT WAS REALLY FRUITFUL. SO HOW CAN WE TAKE OUR SPONSORSHIP EFFORTS BEYOND JUST LET'S ATTEND AN EVENT SET UP A TABLE? LET'S REALLY MAXIMIZE THE SPEND THAT WE'RE GIVING THESE EVENTS AND TAKE THOSE LISTS AND CONVERT THEM INTO CONVERSATIONS. SO THAT'S WORKING SOMETHING WE'RE REALLY EXCITED ABOUT.

SECONDLY WE HAD A WEIRD DIPPENAAR INSTAGRAM REAL VIEWS. IF YOU KNOW ANYTHING ABOUT SOCIAL MEDIA, YOU KNOW THAT IT'S ALL ABOUT SHORT FORM VIDEO RIGHT NOW. AND REELS, AND SUDDENLY WE'RE SEEING SOME OF THEM DIPPED VERY LOW. WE HAD A REAL OF SEVEN VIEWS IN A COUPLE OF WEEKS, ANOTHER ONE WITH FIVE. IT'S LIKE THAT'S ODD AND JUST REALIZED WE WERE GETTING THOSE SCHEDULED THROUGH A SOCIAL MEDIA MANAGEMENT SYSTEM IN ANY REELS THAT WERE BEING POSTED THROUGH THAT WE'RE HAVING A SEVERE IMPACT IN THEIR VIEWERSHIP. AND SO WE'VE GONE NOW. BACK TO POSTING ONLY ORGANICALLY THROUGH THE DEFAULT PLATFORMS RATHER THAN USING THIRD PARTY TOOLS, WHICH CAN BE HELPFUL AND GOOD. BUT ALSO WE'RE SEEING THEM THROTTLE OUR VIEW. SO NOW WE'VE GONE BACK AND YOU SEE THE HUGS EPISODE THAT SHORT FORM VIDEO GOT 685 VIEWS SIMPLY BECAUSE IT WAS GREAT CONTENT, BUT ALSO IT WAS POSTED THROUGH AN ORGANIC PLATFORM DIRECTLY THROUGH META AND NOT THROUGH A THIRD PARTY SCHEDULING SOFTWARE. SO I DON'T WANT TO GET TOO IN THE WEEDS ON THAT. JUST WANT TO INFORM YOU MORE SO THAT WE'RE CONSTANTLY EVALUATING WHAT WE'RE DOING, WHY WE'RE DOING IT AND HOW WE'RE DOING IT IN AN EFFORT TO BE MOST EFFECTIVE WITH THE TOOLS THAT WE HAVE SO AND WITH THAT I'LL HAPPILY STAND FOR ANY QUESTIONS. QUESTIONS. EXCELLENT. THANK YOU.

HAPPY THANKSGIVING EFFORTS. I GUESS TO BE CONSISTENT. I SHOULD PROBABLY SKIP THREE THINGS AND

[Consider/Discuss/Act on the September 2023 Financials]

COME BACK, RIGHT? OKAY FINANCE CHANCE. HOW ARE YOU? GOOD MORNING, CHANCE. MILLER COUNTY MANAGER HERE AT THE CITY MCKINNEY. UM FOR Y'ALL IF I DON'T KNOW HOW ARE YOUR INTO SEPTEMBER 30TH. SO ONCE WE HIT OCTOBER, THE MAJORITY OF THE CITY GETS INTO GEAR FOR FISCAL YEAR 24 BUT FINANCE STAFF WE HAVE TO CLOSE OUTFIT SCHOOL YEAR 23. SO THIS IS WHEN WE WORK WITH OUR AUDITORS OR YOUR INTERNAL INJURIES AND ALL THAT STUFF, SO I SAY THAT AS WE GO BACK TO SEPTEMBER, UM LET'S SEE IF I CAN KIDS ARE INCOME STATEMENT YOU MIGHT HAVE TO BUT HOLD ON, TURN IT ON. OKAY? PERFECT. SO. AH THIS IS OUR LAST MONTH OF OUR FISCAL YEAR. UM I WILL SAY THIS IS A SNAPSHOT OF SEPTEMBER. WE WILL I WILL COME BACK TO YOU ALL ABOUT JANUARY OR SO, WITH THE FINAL NUMBERS FOR FISCAL YEAR, 23 HAVE TO REDO ALL THOSE FINAL AUDIT ADJUSTMENTS IN THE AUDITORS APPROVE EVERYTHING, BUT THIS GIVES YOU A GOOD SNAPSHOT OF WHAT PHYSICAL YOU'RE 23 LOOKED LIKE SO IN REGARDS TO REVENUES FOR THE MONTH OF SEPTEMBER. WE HAD A LITTLE OVER 2 MILLION. OBVIOUSLY 99% OF THAT WAS SALES TAX REVENUE. WE HAD A LITTLE BIT OF INTEREST INCOME AND A LITTLE BIT OF MISCELLANEOUS REVENUE. BUT THE RIGHT NOW THESE CELLS ARE THE REVENUE FOR THE YEAR IS 23.3 MILLION. THAT WILL CHANGE SLIGHTLY ONCE WE GET THE FINAL AUDIT, UM SALES TAX NUMBERS BECAUSE WE HAVE A TWO MONTH DELAY AND SALES TAX. SO THAT WILL CHANGE SLIGHTLY. I WOULD EXPECT IT TO GO. I WANT TO SEE WHEN THE FINAL NUMBERS COME IN AND MAKE THOSE ADJUSTMENTS AND I'LL COME BACK. IT WILL BE PRETTY CLOSE TO THAT 23 MILLION NUMBER. UM IN REGARDS TO EXPENDITURE EXPENSES ARE FIRST CATEGORIES OPERATIONS WHICH WE HAD 458,000 YOU KNOW, THAT'S YOUR PERSONNEL SUPPLIES RENT STUFF LIKE THAT. FOR THE YEAR WE SPENT CLOSE TO $3 MILLION IN THOSE CATEGORIES. THE NEXT SECTION IS PROJECTS WHICH WE SPENT 340,000 IN THE MONTH OF SEPTEMBER. FOR THE YEAR WE SPENT CLOSE TO $9.6 MILLION IN PROJECTS WE USUALLY BUDGET AROUND 15 MILLION. I DO HAVE A BIG AUDIT ADJUSTMENT THAT'S GOING TO BE HITTING FOR THE KAIZEN OFFICE BUILDING THAT WILL GET US CLOSE TO $15 MILLION NUMBER. ANYTHING LEFT OVER THE WAY IT WORKS IS ALL WORK WITH KOWSKI AND WILL DETERMINE TO RE APPROPRIATE THOSE FUNDS FOR THE PROJECTS THAT DIDN'T GET PAID OUT IN 23. AND WE CAN CHOOSE TO MOVE THAT 24, OR WE CAN CHOOSE TO LET THOSE FUNDS ROLL INTO FUND BALANCE. AND THAT IS THE DECISION THAT MINKOWSKI WILL WORK ON AND WANT TO COME BACK IN JANUARY WILL KIND OF INFORM ME ALL THE FINAL DECISION WILL BE ABLE TO GIVE YOU YOUR FINAL FUND BALANCE NUMBERS AT THAT TIME. UM NON DEPARTMENTAL THAT'S MAINLY US DURING A TRANSFER TO THE INS ONE FOR YOUR DEBT SERVICE. UM WE

[00:30:01]

MAKE A MONTHLY TRANSFER AND WE PAY IT TWICE A YEAR, SO THAT'S WHAT YOU'LL SEE DOWN THERE.

TOTAL EXPENSES FOR THE MOTHER. SEPTEMBER WAS A LITTLE OVER 1 MILLION, AND FOR THE YEAR IT WAS 15.48 6000, OR A MILLION UM, NET INCREASE FOR THE MOTHER OF SEPTEMBER WAS 966,002 FUND BALANCE AT THE BOTTOM LEFT. THIS IS THE FIRST MONTH THAT SHOWS YOU AN IDEA OF WHAT YOUR FUND BALANCE MIGHT LOOK LIKE. AT THE END OF THE YEAR WE STARTED AT 25.8 MILLION WE SAW 23.3 MILLION COME IN, 15.486 GO OUT. UM SO RIGHT NOW WE'RE PROJECTING A FUND BALANCE OF 33.67 MILLION.

UM I WILL SAY WITH THE BIG AUDIT ADJUSTMENTS, IT'S LOOKING MORE LIKE 27 MILLION OF THIS TIME AFTER I'VE ALREADY DONE THOSE ARE ADJUSTMENTS, BUT WHEN WE'RE REFLECTING ON SEPTEMBER RIGHT NOW, MY PROJECTIONS AROUND 27 MILLION THAT MIGHT CHANGE A LITTLE BIT, BUT THAT'S THE BEST GUESS THAT'S THE RIGHT NOW. SO, UM JUST REALIZED, YOU KNOW, JUST FREE THOUGHTS OF WHERE WE'RE AT CURRENTLY, AND I'LL PRESENT THE FINAL NUMBERS AND JANUARY ALRIGHT. SALES TAX. SO SEPTEMBER . THE SALES TAX WERE WE RECEIVED IN SEPTEMBER APPLIES TO THE MONTH OF JULY. SO THESE ARE JULY CELLS MAKE ANY. WE SAW 7.7% INCREASE ALAN SAUL. THEY BASICALLY STAYED ABOUT THE SAME.

FRISCO SAW 4.8% DECREASE IN PLANO SAW 4.5% INCREASE. NOW THERE'S AUDIT COLLECTIONS THAT PAY A BIG ROLL INTO THIS. UM AND A LOT OF IT. WE ALL KIND OF KNOW THIS STANDARD ONES WHERE THE CONTROLLER ROLE AUDITED BUSINESS AND THEY'LL HAVE TO PAY MORE PAY LESS. EVERYONE'S KIND OF AWARE OF THAT. THERE'S ALSO ALLOCATIONS THAT HAPPENED SO THERE MIGHT BE A BUSINESS THAT MOVED TO MCKINNEY. THAT WAS IN FIRST GO, UM AND IT MIGHT TAKE THE APPRAISAL DISTRICT. YOU KNOW , 1012 MONTHS TO GET CAUGHT UP FOR THAT CHANGE, AND THEY WILL ALLOCATE THE FRISCO SALES TAX BACK TO MCKINNEY. AND MAKE IT WHOLE FOR THE PAST 12 MONTHS, SO THAT HAPPENS ON A MORE ROUTINE BASIS THAN YOU MIGHT THINK. SO WE WERE SAYING AUDIT COLLECTIONS. THAT'S WHY YOU MAY SEE A BENEFIT OF CITY AND WHY I MADE HER TO CITY. SO I SAY THAT AND SAY THAT WE SAW 7.7% INCREASE BUT ARE TRUE INCREASES ONLY 5.4% SO WE HAVE SOME BENEFICIAL AUDIT COLLECTIONS THAT FOR THE MONTH OF SEPTEMBER, ALLEN HAD PART OF COLLECTIONS THAT HEARD THEM THEY HAD A TRUE INCREASE OF 4. FRESCO IS TRUE DECREASE WAS 8. SO THEY HAD AUDIT COLLECTIONS THAT HELPED THEM GET TO THAT 4.8% AND IF YOU HAVE BEEN PAYING ATTENTION, THIS IS ABOUT THE 4/5 MONTH. NOW THAT FIRST GO, I SAW A STUDY DECREASE OF CLOSE TO THAT 4. UM I HAVE NOT GOT A GOOD FEEDBACK FROM THE FINANCE FORM AND I TALKED TO KOWSKI. WE'RE GOING TO REACH OUT TO THE FRISCO EDDIE C BECAUSE EVERY CITY IS LITTLE DIFFERENT. HOW THEY HANDLE SALES TAX. UM FINANCE DEPARTMENT HERE DOES A LOT OF ANALYTICS ON IT. BUT THERE'S LOTS OF HEADACHES THAT DO ANALYTICS ON SALES TAX AND OTHER CITIES. SO I'M HOPING TO GET A BETTER ANSWER. KIND OF WHAT'S GOING ON FRISCO IF THEY HAD A BUSINESS LEAVE OR WHAT'S BEEN CAUSING THIS DECREASE. UM AND PLANO'S WAS ABOUT THE SAME.

THEY HAD A 4.5% INCREASE. THEY DIDN'T REALLY HAVE ANY AUDIT COLLECTIONS THAT FACTORED THEM NOW. THE BIG GOAL IS THAT THIS IS THE END OF THE YEAR. SO WE'RE LOOKING AT THOSE YEAR TO DATE NUMBERS IN THE COLUMN RIGHT BELOW IT SO FOR MCKINNEY WAS ALL 6.3% INCREASE HERE TODAY WE JOB WE BUDGET ABOUT A 5% INCREASE, SO WE PROJECTED, YOU KNOW WE ENDED UP ABOVE BUDGET. THAT WILL ROLL INTO YOUR FUND BALANCE. ANY DOLLARS WOULD GO OVER BUDGET WILL GROW INTO YOUR FUND BALANCE AND YOU'LL SEE THAT IN THE FINAL REPORT. ALAN'S ON 8.9% INCREASE. THEY'VE HAD A COUPLE OF ROUGH YEARS. SO THIS THIS IS THEM KIND OF CATCHING COAL UP TO THE OTHER SISTER CITIES. IF YOU'RE LOOKING AT A TWO YEAR TREND THERE A LITTLE BIT BELOW BEHIND MCKINNEY, PLANO AND STUFF LIKE THAT, IF YOU'RE LOOKING AT IT, NOT JUST ON AN ANNUAL BASIS, FRISCO STARTED OFF REALLY STRONG AND OBVIOUSLY THEY'RE KIND OF STARTING TO FALL BEHIND. YOU KNOW, THEY'RE OUT OF 5.2% INCREASE. THAT'S THE LOWEST OF ALL OUR SISTER CITIES THIS YEAR. WILL BE GREAT INFORMATION WE CAN FIND OUT REALLY? WHAT PLAYED INTO THAT? PLANO'S BEING CONSISTENT, 6.6% THEY'RE KIND OF BUILT OUT, BUT THEY'VE BEEN PRETTY STEADY IN THEIR INCREASES ON A YEAR TO YEAR BASIS. LAST THING I HAVE IS BY INDUSTRY, SO WE BREAK THAT OUT BY INDUSTRY SO WE CAN KIND OF SEE WHAT INDUSTRIES ARE DOING GOOD WHICH INDUSTRIES ARE STRUGGLING. FOR MCKINNEY, OUR MAIN INDUSTRIES RETAIL TRADE, WE SAW ANOTHER 8% INCREASE, WHICH IS GREAT THAT PLAYS A BIG ROLE INTO WHAT OUR FINAL SELL STOCKS. NUMBERS END UP ENDS UP BEING UM THE OTHER STUFF KIND OF EBBS AND FLOWS IN THE WHOLESALE TRADE WAS UP 66% IT IS THE END OF A QUARTER. SO UM, SOME OF OUR SALES TAX PAYERS PAY QUARTERLY SO THEY MIGHT HAVE A BUMP EVERY QUARTER. BUT THEN THE MONTHS IN BETWEEN WILL BE A LITTLE BIT DOWN ABOUT LOOKING AT YEAR. TODAY EVERYTHING ELSE LOOKS PRETTY STEADY, EVEN CONSTRUCTIONS AND UTILITIES SHOWED DECREASE HERE, BUT YOU'RE TODAY THERE AT A 2% INCREASE, WHICH IS A LITTLE BIT LOWER THAN THE OTHER INDUSTRIES. BUT YOU'RE STILL SAYING A INCREASE IN KIND OF THE CONSTRUCTION ROLES CANNOT SLOWING DOWN IN GENERAL, BUT WE'LL KIND OF SEE HOW CLOSE THOSE ARE THE STUFF THAT WE MONITOR IN THE FINANCE DEPARTMENT. WE GIVE IT TO KOWSKI STAFF. HEY THESE ARE THE INDUSTRIES THAT MAYBE WE NEED TO LOOK INTO THESE ARE THE BUSINESSES THAT HEY, THAT LOOKS LIKE THEIR SALES TAX DROPPING AND THOSE ARE ANALYTICS WE DO ON A MONTHLY BASIS THAT HELP US MAKE SURE THAT WE'RE ON THE EDGE, AND WE DON'T HAVE THOSE THINGS LIKE FRISCO, WHERE IT HITS AND THEN THEY KEEP SITTING FROM MONTH TO MONTH AND MONTH

[00:35:02]

AND THEY KEEP SAYING THAT DECREASE. I'LL BE HAPPY TO ANSWER ANY QUESTIONS AT THIS TIME, THOUGH. TAKE A CHANCE SHOULD NOTICE WHAT IS WHOLESALE TRADE? AS MORE LIKE BUSINESS TO BUSINESS. SO YOU'RE YOU KNOW YOU'RE NOT PAYING THE TAX ON THE FRONT. IT'S MORE YOU'RE PAYING TAX. UM YOU YOU SELL IT TO BUSINESS AND THEY SELL TO THE PUBLIC, SO IT'S THAT BUSINESS TO BUSINESS INTERACTIONS. THANK YOU. OTHER QUESTIONS. THANK YOU FOR THE VERY GOOD. DETAILED REPORT AT THIS TIME WILL ENTERTAIN A MOTION ON OUR SEPTEMBER. FINANCES MOVE TO APPROVE WE HAVE A SECOND SECOND. MR HELMSLEY, SECOND BY MR DENNISON. ALL IN FAVOR. MOTION PASSES. WE'VE HANDLED STANDING COMMITTEES ALREADY SO MANY OTHER PUBLIC COMMENTS REGARDING MATTERS NOT ON THE AGENDA. BOARD COMMENTS. SO THIS TIME WE'RE GOING TO EXECUTIVE SESSION IN

[EXECUTIVE SESSION]

ACCORDANCE WITH THE TEXAS GOVERNMENT CODE SECTION 551072. CONSULTATION WITH ATTORNEY ON ANY WORK SESSION SPECIAL REGULAR SESSION AGENDA IRELAND REQUIRED REQUIRING CONFIDENTIAL ATTORNEY CLIENT DEVICES NECESSITATED BY THE DELIBERATION OR DISCUSSION OF SAID ITEMS AS NEEDED. LEGAL CONSTITUTIONAL AND FOLLOWING ISLANDS SECTION 551087 ECONOMIC DEVELOPMENT MATTERS AS POSTED IN THE AGENDA. AND IT IS 837 AM WE WILL RECESS INTO EXECUTIVE SESSION AND COME BACK AND THE EVENT THAT WE HAVE ANY ACTION

* This transcript was compiled from uncorrected Closed Captioning.

Nov 21, 2023 McKinney Economic Development Corporation

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