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

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

ANYTHING FROM THE CITY MCKINNEY. I DO HAVE A FEW GENERAL ANNOUNCEMENTS. MR CHAIRMAN, MR PRESIDENT, MEMBERS OF THE BOARD. UM START FROM THE BACK. SOME REASON IT IS EASIER FOR ME. WE HAVE OUR ANNUAL DEVELOPMENT REPORT THAT IS POSTED. OUR ANNUAL DEVELOPMENT REPORT SUMMARIZES DEVELOPMENT ACTIVITY IN MCKINNEY DURING THE 2023 CALENDAR YEAR. YOU CAN GO TO MCKINNEY TEXAS.ORG/REPORTS. UM A LOT OF GREAT INFORMATION ABOUT DEVELOPMENT ACTIVITY IN THE COMMUNITY. I ALSO WANTED TO SHARE WITH YOU A LITTLE BIT ABOUT, UM, WE HAVE A NEW PARKS AND RECREATION DIRECTOR. I KNOW THAT THIS IS PROBABLY SOMETHING MORE OF MORE OF INTEREST TO OUR CDC, BUT NONETHELESS I DIDN'T KNOW IF WE WERE GOING TO HAVE BOTH OF YOU DURING THE ANNOUNCEMENT, SO I HAD PREPARED THIS, BUT NONETHELESS, AMY KINCAID FROM IRVING, TEXAS, IS GOING TO COME JOIN US. SHE'S GONNA BE OUR NEW PARKS AND REC DIRECTOR. SHE STARTS ON MARCH 11TH, AND SHE'S GOT BIG SHOES TO FILL, AS WE ALL KNOW, BUT, UH, WE THINK SHE'S UP TO IT, AND, UH, SHE'LL BE A GREAT ADDITION TO OUR LEADERSHIP TEAM HERE. UH WE HAD A STRATEGIC GOAL SETTING MEETING WITH THE CITY COUNCIL RIGHT HERE IN THIS ROOM LAST FRIDAY. UH, THAT'S THAT'S OUR ANNUAL PROCESS FOR THE CITY COUNCIL. UH, BASICALLY SETS OUR WORK. PLAN IT. THEY THEY TELL US HERE'S THE STRATEGIC GOALS. WE WANT THE STAFF TO FOCUS ON. UM AND THESE ARE YOUR PRIORITIES.

UH, BECAUSE THERE ARE PRIORITIES AND OUR JOB THEN IS TO COME BACK WITH SOME DETAILS, MEASURABLE KPIS THAT WE'LL BRING BACK TO THE COUNCIL. OK COUNCIL WILL ADOPT THOSE, AND THEN WE SET OFF FOR MAKING A BUDGET TO MAKE SURE THAT THAT BUDGET REFLECTS AND IS IN ALIGNMENT WITH THE CITY.

STRATEGIC PRIORITIES. WE DO THIS EVERY YEAR. IT IS PART OF THE TIMING PART OF OUR BUDGET CYCLE.

UM AND IT'S ALSO A KEY PART TO MAKE SURE THAT THE COMMUNITY AND THE CITY COUNCIL AND STAFF ARE IN LINE IN TERMS OF HOW WE PRIORITIZE OUR BUDGETING. UM ALSO HAVE TONIGHT AT THE CITY COUNCIL MEETING. OF COURSE, WE HAVE THE ITEM ON THE AGENDA ABOUT REQUESTING FUNDING FROM THE C AND THE CDC FOR DEVELOPMENT OF INFRASTRUCTURE IN THE EAST SIDE. MCKINNEY NATIONAL AIRPORT THAT IS ON THE AGENDA TONIGHT. CITY COUNCIL WILL BE CONSIDERING THAT AND THE PUBLIC PART OF THE AGENDA I WILL STAND WELL AND THEN THE LAST THING IS ON FEBRUARY 11TH. LAST MONDAY, WE HAD A JOINT MEETING WITH THE MCKINNEY ISD. WE DO THAT EVERY YEAR. UH AND THAT'S AN OPPORTUNITY FOR US TO SHARE. BOTH THE ID AND CITY TO SHARE THEIR PRIORITIES AND ANSWER ANY QUESTIONS THAT MIGHT BE OF, UM, THAT MAY BE GERMANE TO THE SCHOOL DISTRICT, UH, IN A MUTUAL INTEREST TO BOTH PARTIES, SO IT WENT VERY SMOOTHLY. YOU CAN CERTAINLY WATCH THAT IF YOU ARE SO INCLINED. YOU CAN GO ONLINE AND STREAM. IT WAS PRETTY EXCITING. BUT NONETHELESS, IT UH I WILL STAND FOR ANY QUESTIONS QUESTIONS. THANKS, SIR. OK, THANK YOU. THE CHAMBER OF COMMERCE IS NOT HERE TODAY. CINDY SCHNEIBEL WITH CDC IS NOT HERE. BUT THEY REPORT IS IN THE PACKET. UH, VISIT MCKINNEY, AARON. ALL RIGHT. GOOD MORNING. ME DC BOARD. ALWAYS A PLEASURE TO BE HERE WITH YOU, UH, A COUPLE QUICK UPDATES FOR YOU. UM UH, COMING OUT OF OUR STRATEGIC SESSION LAST YEAR, ONE OF OUR TOP PRIORITIES FOR VISIT, MCKINNEY WAS BECOMING A, UH, DATA DRIVEN ORGANIZATION WHERE WE'RE DOING OUR, UM, DECISION MAKING, CHOOSING OUR MARKETING PLANS AND SUCH FORTH. UM UH, UPDATE ON THAT WE HAVE MOVED FORWARD WITH THE NEW, UM, DATA PROVIDER THAT FOCUSES SPECIFICALLY ON TOURISM. UH, THAT WE WERE IN THE, UM ON

[00:10:04]

BOARDING STAGE, RIGHT? NOW, BUT THIS DATA IS SOMETHING THAT I'LL BE PROVIDING TO OUR ME. DC TEAM M CDC, UH, BUT IT ATTRACTS VISITORS COMING INTO TOWN. UH ORIGIN MARKETS. UH, HOW MUCH MONEY THEY'RE SPENDING WHILE THEY'RE IN TOWN. WHAT THEY DO, AND WHILE THEY'RE HERE, UM SO IT'S A REALLY POWERFUL PLATFORM AND THAT I'M EXCITED TO BRING ON BOARD AND, OF COURSE, UM, SHARE REPORTS WITH YOU GUYS. UM BUT THAT WILL ALLOW US RATHER THAN, UM, WHEN WE'RE MARKETING FOR TOURISTS. UM, RATHER THAN JUST THINKING THAT, YEAH, I'M SURE THEY COME FROM OKLAHOMA CITY, BECAUSE, YEAH, THAT'S A DRIVABLE DISTANCE. WE HAVE DATA IN OUR HANDS NOW TO SHOW UM, WHERE THEY'RE COMING FROM. AND WHAT MARKET SPEND THE MOST MONEY WHILE THEY'RE HERE. AND SO IT'S GOING TO HELP US MOVING FORWARD. UM, ANOTHER THING THAT I WANNA JUST BRING TO YOUR ATTENTION AT THE VISIT MCKINNEY SHOP, UH, WE ARE CARRYING SOLAR ECLIPSE MERCHANDISE. NOW THE TOTAL SOLAR ECLIPSE IS COMING UP APRIL 8TH, UH, WE'VE BEEN TALKING ABOUT THIS FOR A LITTLE WHILE. SO THAT'S NOTHING NEW, BUT YOU ARE PROBABLY STARTING TO SEE IT ON ALL OF OUR MAJOR NEWS CHANNELS AND STUFF. NOW THAT WE'RE GETTING CLOSER, THERE'S GONNA BE A HUGE ECONOMIC IMPACT IN IS ALL ACROSS TEXAS WITH THE TOTAL SOLAR ECLIPSE, BUT WE'VE GOT A GLASSES THERE WITH T SHIRTS AND POSTERS. THINGS LIKE THAT. SO SWING BY. IF YOU HAVE A CHANCE. WE ARE ALSO SELLING MERCHANDISE FOR THE MCKINNEY LOVE CAMPAIGN. YOU MAY HAVE SEEN THAT ON THE CITY SOCIAL MEDIA ACCOUNTS ON VISIT MCKINNEY AND OTHERS. UH, THIS IS SOMETHING WE KICKED OFF IN FEBRUARY AS A JOINT MARKETING. UH, PROGRAM. IT'S BASED OFF OF THE BOOK FOR THE LOVE OF CITIES BY PETER KAGA. UM BUT THE IDEA IS TO LOVE YOUR COMMUNITY, LOVE YOUR CITY. AND SO WE'VE GOT SOME SHIRTS, STICKERS AND THINGS LIKE AT OUR STORE TWO OPPORTUNITIES FOR YOU TO COME BY AND SAY HI TO US IN PERSON. IT'S ALL OF THAT. THANK YOU. ANY QUESTIONS? ALL RIGHT. THANKS, SIR. ALL RIGHT. WE HAVE, UH OUR COMMITTEE UPDATES ANYTHING FOR MARKETING. UH, WE MET LAST WEEK. I THINK IT WAS LAST WEEK. GOT SOME GREAT UPDATES ON PROJECTS AND I'M GONNA DO MY MONTHLY COMMERCIAL FOR MCKINNEY MOMENTUM. IF YOU HAVEN'T LISTENED TO IT, PLEASE DO A COUPLE OF GREAT EPISODES RECENTLY ONE ON PLUG AND PLAY AND THE OTHER STADIUM. DROP BOTH REALLY GOOD. SHARE IT GET IT OUT THERE. IT'S A GREAT WAY TO TELL PEOPLE WHAT ME DC IS ALL ABOUT YOU REAL ESTATE. CERTAINLY WE MET LAST WEEK AND I THINK YOU HEARD MOST OF IT IN THE EXECUTIVE SESSION HERE A FEW MINUTES AGO, SO ALL RIGHT. THANK YOU. FINANCE UH, WE MET NOTHING REALLY TO REPORT TO THE BOARD OTHER THAN WENT THROUGH THE FINANCIALS AND THE LEASING OF THE BUILDING, OK, INNOVATION. WE MET AT THE END OF JANUARY. UH, MR TALLEY AND MR WILKES WENT THROUGH. THE FOUNDATIONS OF THE PROGRAM AND THE HISTORY AND, UH, TALKED A BIT ABOUT HOW PLUG AND PLAY IS GONNA HELP TO ACCELERATE THAT. ALL RIGHT. AND GOVERNANCE IS MEETING ON FEBRUARY 28TH. AND ONE OF THE THINGS THAT WE'LL BE TALKING ABOUT IS THE, UM FORMAT GOING FORWARD FOR THE, UM PRESIDENT'S REVIEW, UH, PROVIDED LAST YEAR'S FORMAT TO MR KOWSKI JUST SO HE'S FAMILIAR WITH IT. WE WILL BE TALKING ABOUT THAT AT OUR GOVERNANCE MEETING, AND THEN WE'LL REPORT BACK TO YOU ALL AFTER THAT. AND LAST BUT NOT LEAST. JUST IN THE INTEREST OF TIME. I DO NOT HAVE ANY ADDITIONAL COMMENTS TO MAKE SO THAT WE CAN MOVE ON. OUR AGENDA. UH, MONTHLY REPORTS 24 1238. YEAH. THIS TIME I'LL FOLLOW YOUR

[Consider/Discuss MEDC Monthly Reports]

LEAD AND JUST GET IT GOING WITH MR TALLEY, WHO WILL SPEAK TO OUR REPORTS. THANK YOU. RIGHT ACTIVE PROJECT PIPELINE IS 27. LUKE G WILL BE REPORTING ON SOME THINGS HERE IN JUST A FEW MINUTES. I WILL DIVE INTO SOME OF THE SOME OF THE ACTIVITIES WE'VE BEEN DOING OVER THE PAST YEAR, MR KOWSKI AND I AND MR KARI AS WELL HAVE ALSO BEEN WORKING ON SOME THINGS TO KIND OF BETTER INFORM THE BOARD ON SOME OF THAT REPORTING SOME OF THE SOME MORE DETAILS AS TO THE, UM DIFFERENT TRIPS AND EVENTS THAT THAT WE ATTEND, SO HAPPY TO STAND FOR ANY QUESTIONS IF THERE ARE ANY QUESTIONS. THANK YOU. MARKETING. LOOK. UH, GOOD MORNING, MR PRESIDENT. MR CHAIRMAN, MEMBERS OF THE BOARD. HAPPY TO BE WITH YOU SOME GOOD VIBES IN HERE. TODAY'S MEETING SO HAPPY TO KEEP THAT GOING. UM BUT, UH, ANYWAY, I'M GONNA GIVE A BRIEF OVERVIEW AS ALWAYS OF SOME MARKETING INFORMATION. UM YOU KNOW, A AS USUAL. THERE'S A FULL REPORT WITH ALL OF OUR DATA FOR GROWTH ON SOCIAL MEDIA. WE HAD SOME GREAT INCREASE IN NUMBERS TO OUR WEBSITE TRAFFIC AS A RESULT OF SOME BETTER TARGETED MARKETING CAMPAIGNS AND SOME SEARCH ENGINE OPTIMIZATION. WE'VE PERFORMED ON OUR WEBSITE RECENTLY. I WANT TO POINT OUT TWO THINGS HERE AT THIS. OVERVIEW THAT, UM, ARE NOT NECESSARILY IN THE REPORT BUT ARE WORTH NOTING. POCKET CASTS IS A PODCAST PLATFORM, UM, THAT I WAS NOT SUPER FAMILIAR WITH, BUT IT SEEMS TO BE A PLATFORM THAT IS TARGETED TOWARDS

[00:15:04]

INDUSTRY LEADERS. YOU CAN SEE PLATFORMS THAT UTILIZE IT. THE NEW YORK TIMES THE VERGE TIME FAST COMPANY, HE NOTICED A TREND WITH THE USERS ON POCKET CASTS IS VERY BUSINESS ORIENTED. UH, LEADERSHIP, UH, REAL ESTATE, SO IT'S A MARKET. WE CERTAINLY WANT TO BE PARTICIPATING IN WHEN IT COMES TO OUR MCKINNEY. PODCAST UM, AND TO ALSO PIGGYBACK ON WHAT JULIE SAID ABOUT THE PODCAST, PARTICULARLY WITH PLUG AND PLAY. UH, MR TALLEY INTERVIEWED KEVIN PERU FROM PLUG AND PLAY. AND AT THE END OF THAT INTERVIEW, KEVIN BREAKS DOWN. HOW UM CORPORATE PARTNERSHIPS WORK WITH OUR START UPS IN A COMPARISON TO A MERCEDES VEHICLE AND HOW 10 DIFFERENT PIECES OF TECHNOLOGY FROM START UPS WERE IMPLEMENTED IN THE LATEST, UH, USER INTERFACE SOFTWARE IN MERCEDES, AND IT'S A GREAT OVERVIEW IF PEOPLE ARE WONDERING, HOW DOES PLUG AND PLAY SUPP? THE INNOVATION FUND. HOW DO THEY WORK WITH CORPORATE INTEGRATIONS WITH START UPS THAT I'VE PULLED THAT FIVE MINUTE CLIP? IT'S ALSO ON OUR YOUTUBE CHANNEL FOR A QUICK SNAPSHOT OF HOW THAT WORKS AND AGAIN RECOMMEND SHARING THAT IF ANYONE HAS QUESTIONS, FINALLY WANT TO HIGHLIGHT SOME PARTNERSHIPS WITH OTHER ED OS WORKING ON COLLABORATIONS WITH REGIONAL EVENTS. HAVE THIS GRAPHIC UP OF COKE AND PEPSI MACHINES. IF YOU HAD A COKE MACHINE ON A UNIVERSITY CAMPUS, AND YOU SOLD 100 CANS A DAY, UM, YOU WOULD ASSUME THAT BY PUTTING A PEPSI MACHINE NEXT TO IT THAT YOU WOULD SPLIT 5050. YOU WOULD START SELLING 50 CANS OUT OF THE OTHER AND 50 CANS OUT OF ONE. THE TRUTH IS, YOU WOULD PROBABLY SEE A SPIKE OF AROUND 200 CANS A DAY BECAUSE NOW CONSUMERS HAVE OPTIONS AND THEY HAVE CHOICES AND SO A PHRASE THAT WE KICK AROUND IN OUR OFFICE. A LOT IS A RISING TIDE LIFTS ALL BOATS AND SO BY US PARTNERING WITH OTHER ED OS. LIKE FRISCO, PLANO ALLEN, WE HAVE A GREAT OPPORTUNITY TO LEVEL UP THE REGION, AND SO WE'VE DONE BETTER OF PARTNERING WITH THE MARKETING. UH TEAMS AT THOSE ORGANIZATIONS AND PROJECTS TEAMS AND, UH, REALLY UNDERSTANDING COMPETITION IS A GOOD THING BECAUSE IT PROVIDES MORE THAN ONE VENDING MACHINE ON THE BLOCK, AND WE'VE SEEN A GREAT REPORT ON REGIONAL WORKFORCE INCREASE PROJECTIONS. UH, JOB GROWTH HAPPENING IN THE REGION. IF YOU LOOK NASDAQ DID A REPORT, UH, LAST TOP 10 CITIES PRIMED FOR METEORIC OH, SORRY. THE TOP 30 CITIES PRIME FOR MEDIA JOB GROWTH AND THE TOP 10 ARE ALL IN TEXAS, AND I THINK FIVE OF THOSE ARE IN COLLIN

[Consider/Discuss 2023 Annual Key Performance Indicators]

COUNTY. SO ANYWAY, UM ALL OF THAT IS REALLY EXCITING. I ALSO WANT TO DRAW YOUR ATTENTION TO OUR KPI ANNUAL REPORT. FOR THE SAKE OF TIME. I WON'T GO THROUGH THE WHOLE THING, BUT I WILL DIRECT YOUR ATTENTION TO PAGE NINE. HEARD THE DIRECTION OF MR KOWSKI. WE PUT TOGETHER A SNAPSHOT THAT SUMMARIZES ALL OF OUR KPIS. INTO RESULTS. WHAT DID WE ACCOMPLISH THIS YEAR? OUR KPS ARE ARE GREAT TO TRACK OUR ACTIVITY. BUT WHAT DOES THAT RESULT IN? AND SO, PAGE NINE IS A GREAT RECAP OF THAT COVERS. TOTAL PROJECTS. WE'VE CLOSED HOW MUCH CAPITAL EXPENDITURE CAPITAL EXPENDITURE WAS GENERATED. HOW MANY NEW JOBS WERE BROUGHT AND SO FORTH? SO I ENCOURAGE YOU TO TAKE A LOOK AT THAT PAGE NINE IS PROBABLY THE BEST STARTING POINT. AND THEN FROM THERE, WE HAVE A LOT OF GREAT INFORMATION. UH, THIS REPORT IS ALSO AVAILABLE ON OUR WEBSITE AS WELL AS ATTACHED TO YOUR AGENDA TODAY, AND WITH THAT I WILL STAND ANY QUESTIONS? THIS IS 107 176 NEW JOBS TO MCKINNEY IS THAT ONLY THE JOBS THAT E DC THEMSELVES PARTICIPATED IN THAT THOSE WERE DIRECT IMPACT IN PROJECTS THAT WE BROUGHT TO MCKINNEY WITHIN THOSE 12 PROJECTS. OK? THIS IS A GREAT ADDITION TO THE A GREAT REPORT. THANK YOU. RIGHT SO WE'LL MOVE ON TO REGULAR AGENDA ITEMS. 24 1240 FINANCIALS. CHANCE. AND THE FIRST ITEM IS DECEMBER. 2023 AND 24 1241 IS JANUARY 2024. IN 20. OR 1242 IS SEPTEMBER 2023. I'D LOVE TO PRESENT THEM ALL AT ONCE. AND HAVE YOU ALL VOTE ON THREE. IF POSSIBLE, IF THAT WORKS FOR YOU ALL YES, SIR. ALL RIGHT, INDIVIDUAL, PLEASE. BOX BY BOX. WHATEVER ORDER YOU WANT, ITEM BY LINE ITEM. I DON'T LIKE A 15. CAN WE UM. YOU MIND IF WE SWITCH TO THE LAST ONE FIRST? YEAH. SORRY. THE YES, CALENDAR

[Final September 2023 Financials]

ORDER. THAT'S GOOD. GOOD MORNING . CHANCE MILLER, ACCOUNTING MANAGER. WE HAVE CLOSED OUT FISCAL YEAR 23. WE WILL BE PRESENTING THE AUDIT RESULTS TONIGHT. THE CITY COUNCIL WILL WE WILL BE PRESENTING IT AT WORK SESSION. UM, IT'LL BE ON CONSENT. UM, ON THE REGULAR. UM UH, AGENDA MEETING TONIGHT, BUT I WOULD LIKE TO GIVE A HIGHLIGHT OF WHAT OUR BALANCE SHEET LOOKED LIKE AT THE END OF YOUR 23 SHOW YOU THE INCOME STATEMENT AS WELL. BUT WALK THROUGH OUR FINAL NUMBERS, I'LL HIT THE HIGHLIGHTS, BUT I'LL BE HAPPY TO ANSWER ANY QUESTIONS YOU HAVE FOR ME. WE ARE GOING THROUGH OUR BALANCE SHEET. FIRST FROM THE ME DC. WE HAD CLOSE TO 26 MILLION IN CASH OR INVESTMENT POOLS AT YOUR END. WE ALSO HAD LAND VALUED AT AROUND 66.8 MILLION.

THAT IS THE VALUE OF WHEN WE PURCHASED IT. THAT IS NOT THE CURRENT VALUE OF THE LAND. UM

[00:20:05]

AND ON ASSETS. THOSE ARE THE BIG THINGS I WANTED TO HIT. BUT IF WE GO DOWN TO LIABILITIES AT THE BOTTOM, WE STILL HAVE AN OUTSTANDING BALANCE ON OUR DEBT OF 18.29 MILLION. OBVIOUSLY THAT WAS TO PURCHASE THE LAND. SO THEN THAT YOU KNOW THAT VALUE OF THE LAND WOULD HAVE TO TAKE THAT OUT OF IT. UM AND LOOKING AT OUR FUND BALANCE AT YOUR END. WE HAD ABOUT 29 MILLION IN, UM UNRESERVED FUND BALANCE WE HAD ABOUT 48 MILLION IS THE NET VALUE IF YOU TAKE THE LAND MINTY BONDS, UM, OUTSTANDING AT YEAR END. LOOKING AT OUR INCOME STATEMENT. IT LOOKED LIKE THE WHAT THE FULL YEAR OF 2023 LOOKED LIKE. WE RECEIVED 22.3 MILLION IN SALES TAX REVENUE.

WITH OUR BUDGET WAS 21.2 MILLION . SO WE HAD CLOSE TO $1.1 MILLION INCREASE OVER WHAT OUR ORIGINAL BUDGET WAS. OR I'M SORRY. THAT WAS OUR LAST YEAR'S NUMBERS, SO WE HAD A $1.1 MILLION INCREASE OVER LAST YEAR'S NUMBER. ORIGINAL BUDGET WAS 21.8 MILLION, SO WE HAD ALL WE FINISHED ABOVE BUDGET BY ABOUT $500,000. NOW THAT ENDING RESULT WILL GO INTO YOUR FUND BALANCE AT THE VERY BOTTOM. UM BUT WE'LL SHARE IT WITH THE FULL STATEMENT. LOOKS LIKE GOING THROUGH. WE HAD INTEREST INCOME OF 840,000 MISCELLANEOUS REVENUES OF 350. 3000 TOTAL 73.01 MILLION DOLLARS IN OPERATIONAL EXPENSES. WE HAVE 717.03 MILLION IN PROJECT EXPENSES AND NON DEPARTMENTAL EXPENSES. WE HAVE $3.5 MILLION. THE MAJORITY OF THAT WAS DEBT SERVICE PAYMENTS. UM AND YOU CAN ALSO SEE THE ECONOMIC INCENTIVE, WHICH IS NEW THIS YEAR. THAT IS THE ROADWAY TRANSFER. IT ENDED UP BEING 654,000 AT THE END OF THE YEAR. AND IF WE'RE LOOKING AT THE VERY BOTTOM, IT'S KIND OF SMALL TO SEE. BUT WE'RE BEGINNING FUND BALANCE WAS THE $25.8 MILLION. IF WE ADDED THE REVENUES WERE RECEIVED, MINUS THE EXPENSES WE ENDED UP ENDED AT $25.25 MILLION, SO WE DECREASED ABOUT 600,000. BUT A LOT OF THAT WAS US MOVING, UM, PROJECT EXPENSES FROM 22 TO 23.

IT WAS A REALLY ACTIVE YEAR FOR PROJECTS, WHICH IS A WHICH IS A GOOD THING. AND THAT'S ALL I HAVE FOR THE FINAL FISCAL YEAR. 23 IF YOU HAVE ANY QUESTIONS, I'D LOVE TO ANSWER IT AT THIS TIME BEFORE WE MOVE ON TO FISCAL YEAR 24 OR IF YOU HAVE ANY QUESTIONS, YOU KNOW, THROUGHOUT THE WEEK OR ANYTHING, FEEL FREE TO SEND ME AN EMAIL, AND I'D BE HAPPY TO ANSWER ANY QUESTIONS

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

THAT WAY AS WELL. WE CAN MOVE ON TO THE WE'LL START OFF WITH DECEMBER THEN WE'LL HIT JANUARY.

PERFECT. LET'S GO TO THE INCOME STATEMENT. SO THIS IS OUR THIRD MONTH OF FISCAL YEAR 24 DECEMBER 71.08 MILLION IN SALES TAX. WE HAD INTEREST INCOME AND OTHER INCOME OF CLOSE TO 470,000. I WILL NOTE THAT THE OTHER INCOME IS OUR UNREALIZED GAINS ON INVESTMENTS AS EVERY QUARTER. WE HAVE TO UPDATE IT, ACCORDING TO GAS B, SO THAT IS NOT TRUE. REALIZED INTEREST INCOME, BUT, UM OVER TIME, JUST THE VALUE OF OUR INVESTMENTS. TOTAL REVENUE FOR DECEMBER WAS $2.3 MILLION. REGARDING EXPENDITURES. WE HAD A FAIRLY QUIET MONTH. WE HAD 304,000 OPERATIONAL EXPENSES, 300,000 PROJECT EXPENSES AND 237,000 IN NON DEPARTMENTAL EXPENSES, SO WE HAD A NET INCREASE OF CLOSE TO 1.5 MILLION FOR THE MONTH OF DECEMBER. MOVING ON THE SALES TAX. THE MONEY WE RECEIVED IN DECEMBER FOR SALES TAX APPLIES TO THE MONTH OF OCTOBER. WE SAW 3.2% INCREASE BRINGS OUR YEAR TO DATE INCREASE OF 5.2% YOU CAN STILL SEE ALLEN HAD A 15.7% INCREASE. FRISCO HAD AN 8.7% DECREASE IN PLANO STAYED PRETTY MUCH THE SAME AS LAST YEAR, AND YOU CAN SEE WHAT THE YEAR TO DATE LOOK LIKE AS WELL. AND AS WE MOVE ON TO THE SALES TAX BY INDUSTRY, OUR MAIN INDUSTRY, RETAIL TRADE HAD AN INCREASE OF 5% WHICH IS GOOD, WHICH IS THE MAIN ONE WE LOOK AT. YOU CAN SEE WE HAD A FEW DECREASES, BUT, UM, IN OUR SMALLER CATEGORIES, BUT WHEN WE LOOK AT NEXT MONTH, YOU'LL SEE ALL THOSE JUMP BACK UP. SO WE WEREN'T REALLY CONCERNED WITH THIS MONTH, ONE MONTH GOING GOING DOWN. UM AND THAT'S ALL I HAVE ON DECEMBER'S FINANCIALS BEFORE WE MOVE ON TO JANUARY.

[Consider/Discuss/Act on the January 2024 Financials]

AND NOW WE'RE IN OUR FOURTH MONTH OF OUR FISCAL YEAR. THIS IS THE LAST MONTH SO THE MOST CURRENT INFORMATION, UM, WE COLLECTED TWO A LITTLE OVER $2 MILLION IN SALES TAX REVENUE A LITTLE BIT, UH, OVER $100,000 IN INTEREST INCOME. TOTAL REVENUES FOR THE MONTH OF JANUARY WAS $2.1 MILLION. IF WE GO TO A PROJECT OR E EXPENDITURES, THOSE ARE FAIRLY QUIET MONTH AS WELL.

WE HAD 239,000 OPERATIONAL EXPENSES, 100 16,000 PROJECT EXPENSES AND 237,000 IN NON 71.06 MILLION MOVE TO SALES TAX. WE HAD A REALLY STRONG MONTH OF SALES TAX REVENUE. IT WAS A TRUE INCREASE. WE HAD A 12% INCREASE. UM WE'RE STILL KIND OF DI DIGGING DIVE INTO WHAT EXACTLY THAT ENTAILED, BUT IT LOOKED LIKE EVERY INDUSTRY JUMPED UP ACCORDINGLY. IT WAS NOT ONE INDUSTRY JUMPING OUT OR ANYTHING LIKE THAT. IT WASN'T LIKE ONE SPECIFIC BUSINESS WAS AN AUDIT COLLECTION WAS A TRUE INCREASE. THIS APPLIES TO THE MONTH OF

[00:25:04]

NOVEMBER. SO EXACTLY WHAT THAT ENTAILED. UM WE'RE STILL DIVING INTO IT. BUT AS WE FIGURE STUFF OUT, I'LL LET YOU KNOW. UM AND ALAN SAW A 9.3% INCREASE FRIS. SAW ABOUT BROKE EVEN AND PLANO SAW A 1.1% INCREASE. HONESTLY ABOUT EVERY SISTER CITY JUMPED TO WHAT THEY WERE TRENDING AT FRISCO WAS TRENDING LOWER. THIS JUMPED THEM BACK UP OF THE BREAK BREAKING EVEN. ALAN HAS BEEN, UM AROUND THE 4% SO THEY JUMPED UP TO 9% IT LOOKED LIKE ALL OF OUR SISTER CITIES JUMPED UP AS WELL.

WASN'T JUST US, UM AND BUT THAT BRINGS OUR YEAR TO DATE AN INCREASE UP TO 6.9% YOU KNOW, WE BUDGET OR WE BUDGETED AROUND 4.1% INCREASE THIS YEAR, SO WE'RE TRENDING WELL ABOVE BUD BUDGET FOUR MONTHS INTO OUR FISCAL YEAR, AND AS WE LOOK AT OUR, UM THE SALES TAX BY INDUSTRY, YOU CAN SEE RETAIL TRADE JUMPED UP BY 9. UM ACCOMMODATION, FOOD, FOOD SERVICES 17% YOU CAN SEE IT ACROSS. IT LOOKS LIKE ALL OUR INDUSTRIES JUMPED UP ACCORDINGLY . IT WASN'T ONE THAT JUMPED OUT LEADING TO THAT INCREASE, AND, UM THAT LEADS US TO THINK THIS IS MORE SUSTAINABLE, MOVING FORWARD, BUT WE HAVE TO LOOK AT MORE MONTHS THAN JUST ONE MONTH TO SEE WHAT A TRUE PROJECTION WHAT WE CAN PROJECT MOVING FORWARD IN THOSE RELATED ITEMS, I WILL BE HAPPY TO ANSWER ANY QUESTIONS AT THIS TIME. THIS IS LIKE THE FIRST TIME IT'S WE HAVEN'T SEEN A NEGATIVE. USUALLY WHEN YOU SHOW UTILITIES OR SOMETHING WE SHOW NEGATIVES.

IT'S LIKE THE FIRST TIME WE HAVEN'T SEEN A NEGATIVE AT ALL. CORRECT WE'LL USUALLY HAVE ONE OR TWO OR TWO CATEGORIES A MONTH THAT DROP NEGATIVE AND POP BACK UP. BUT THIS WAS EVERY CATEGORY WE SAW AN INCREASE. THE CLOSEST ONE WAS THAT CONSTRUCTION WAS AROUND 3% BUT A REALLY STRONG MONTH ALL AROUND, YOU KNOW, EVERY CATEGORY. ANY OTHER COMMENTS OR QUESTIONS. OK SO I'M GOING TO ENTERTAIN A MOTION ON 24 1240. 24 1 241 AND 24 1242. WHICH ARE THE COMBINED FINANCIALS FOR SEPTEMBER AND DECEMBER, 2023 AND JANUARY 2024. A MOVE TO ACCEPT AS PRESENTED TO ALL THREE SECOND A MOTION IN A SECOND. ALL IN FAVOR. RAISE YOUR HANDS. MOTION WAS SECONDED BY THAT. ALL RIGHT. NEXT. WE HAVE PUBLIC COMMENTS REGARDING MATTERS NOT ON THE AGENDA. WE DO

[PUBLIC COMMENTS REGARDING MATTERS NOT ON THE AGENDA]

ACTUALLY HAVE ONE. CITIZEN COMMENT WAS EMAILED IN AND SO I AM GONNA READ THIS REAL QUICKLY, AND IT IS FROM A STEPHANIE CHAVEZ. UM AND IT HAS TO DO WITH THE THIS IS PROBABLY MORE FOR MR GRIMES AND THE CITY BECAUSE I THINK IT'S THE DIRECT DIRECTIVE HERE IS PROBABLY NOT EXACTLY CORRECT. BUT WISHES UH, SHE WISHES TO COMMENT ON NEW LIGHTS ON THE EXTENSION OF RIDGE ROAD IMMEDIATELY NORTH OF THE UNIVERSITY 380 THAT THEY ARE COMPLETELY UNER OPERATIONAL AT ANY TIME DURING THE DAY. THE COMMENTS, UH IS THAT THE EXTENSION OF RIDGE ROAD OPENED ON DECEMBER 20TH. THE LIGHTS SEEM TO NEVER HAVE BEEN TURNED ON. IF THERE ARE MOTION ACTIVATED, THEY ARE NOT TURNING ON WHEN THERE IS A PASSING CAR OR PEDESTRIAN. THE ROAD IS COMPLETELY BLACK AT NIGHT. AND IT SHOULD BE REDRESSED FOR SAFETY OF ALL PERSONS USING THE NEWLY OPENED ROAD, SHE SAID SHE EMAILED AND THIS IS THE PART THAT I'M SURE YOU YOU ALWAYS LIKE, BECAUSE, UH, UH, THE EMAIL, SHE EMAILED GRAYSON ELECTRIC ON JANUARY 7, FEBRUARY, 2 AND FEBRUARY 4 AND THEY BASICALLY SAID THAT YOU NEED TO CONTACT THE ECONOMIC DEVELOPER.

ABOUT THIS ISSUE, WHICH, IN THIS PARTICULAR CASE, I WOULD THINK WOULD BE PROBABLY THE CITY.

SINCE IT IS A CITY ROAD PROJECT. IT WOULD BE OUR ENGINEERING DEPARTMENT AND I'LL WORK WITH ON IT. TYPICALLY WHAT HAPPENS IS WHEN YOU OPEN A ROADWAY, THE ELECTRIFICATION USUALLY LAGS BECAUSE THERE'S AN INSPECTION REGIME THAT THE UTILITY HAS AND THEY HAVE TO COME ON AND TURN IT ON. ONCE IT'S BEEN INSPECTED, AND THAT USUALLY BECAUSE YOU CAN OPEN A ROADWAY WITHOUT LIGHTING.

THAT'S PROBABLY WHAT'S AT PLAY HERE. THAT HAPPENED THE SAME THING NEARBY ON, UM ON. UM AS IT WILL SMITH, UH, JUST WEST OF LAKE FOREST A FEW YEARS AGO, WHEN THEY ADDED THE LANES YOU HAD. IT WAS DARK FOR A WHILE UNTIL THEY WERE ABLE TO LIGHT THEM UP. BUT I'LL WORK WITH OUR ENGINEERING FOLKS TO SEE WHAT'S UP WITH THAT. AND MS CHAVEZ. IF YOU ARE WATCHING THE MEETING, I AM GOING TO GIVE YOUR MESSAGE TO THE CITY MANAGER. AND UH, THEY WILL MAKE SURE IT GETS SPEED APPROPRIATE PERSON. SO THERE WE GO. ALL RIGHT, UH, BOARD COMMENTS. I HAVE. TWO UH, ONE

[BOARD COMMENTS]

COMMENT. I'LL SAY I JUST WANT TO SAY, UM, PUBLICLY. UM IT'S BEEN FANTASTIC TO SEE. UM MR KOWSKI AND THE EXECUTIVE SESSION IN THE WAY THAT HE'S BEEN ABLE TO DIRECT THE, UM TEAM AND KEEP US ALL IN THE KNOW ON THE PROJECTS IN THE, UH, THE CHANGES THAT ARE HAPPENING. IT'S BEEN A FANTASTIC CHANGE ALSO PUT A, UM. TO MADISON. SHE INVITED, UM SCOTT AND I BOTH TO GO ON A BRE VISIT.

UM, WHICH IS FANTASTIC FOR US TO BE ABLE TO GO OUT AND ACTUALLY MEET SOME OF THE, UM THE DIFFERENT BUSINESSES IN MCKINNEY AND HERE FIRSTHAND WHAT THEIR EXPERIENCES ARE AND WHAT THE

[00:30:01]

WHAT THEIR APPLAUSE AND WHAT THEIR DISPLEASURE ARE SO THAT WE CAN COME BACK AND BE MORE EDUCATED, SO I APPRECIATE THAT. ALL RIGHT. ANYBODY ELSE? NO, I'LL ENTERTAIN A MOTION TO ADJOURN. MOVED. I.

* This transcript was compiled from uncorrected Closed Captioning.

Feb 20, 2024 Joint Meeting of McKinney Economic Development Corporation and Community Development Corporation

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