May 21, 2024 McKinney Economic Development Corporation

[CALL TO ORDER]

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GOOD MORNING. WELCOME TO THE MCKINNEY ECONOMIC DEVELOPMENT CORPORATION BOARD MEETING. IT IS TUESDAY, MAY 21ST, 2024. TIME IS 802. IN THE MORNING. WE'RE IN THE COUNCIL CHAMBERS AT 222.

NORTH TENNESSEE STREET IN MCKINNEY, TEXAS. AND AT THIS TIME, WE'LL CALL THE MEETING TO ORDER. THE MEETING IS BEING BROADCAST ON SPECTRUM CHANNEL 16 AND AT&T U-VERSE CHANNEL NINE, AND. OKAY IF YOU'RE GETTING DISTURBANCE ON YOUR TV, IT'S NOT SNOWING OUTSIDE. ALL RIGHT, THE FIRST ITEM IS PUBLIC COMMENTS ON AGENDA ITEMS FOR NON PUBLIC HEARING ITEMS. IS THERE ANYBODY THAT WOULD LIKE TO ADDRESS ANY, NON PUBLIC HEARING ITEMS. SEEING NONE WE'LL GO TO CONSENT AGENDA.

[CONSENT ITEMS]

MOTION BY SCOTT. SECOND. SECOND BY THAD AND CASH VOTES. MOTION PASSES, NEXT. WE HAVE 24

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

A FEW ITEMS TO UPDATE YOU ON, OUR MCKINNEY NATIONAL AIRPORT IS CONTINUING TO WORK ON DESIGN WORK. THE CITY COUNCIL HAS FUNDED AS APPROVED FUNDING AND WITH WITH SOME ASSISTANCE OF, I BELIEVE, THE MEDC AND MCDC FOR INFRASTRUCTURE TO BUILD TOWARD THE EASTERN SIDE OF THE RUNWAY, THE EASTERN PART OF THE AIRPORT, WHICH WILL BE DEVELOPED FOR BOTH GENERAL AVIATION AND OR PASSENGER SERVICE DOWN THE ROAD IN THE FUTURE, IN ANY EVENT, WE HAVE TO HAVE THE INFRASTRUCTURE.

IT'S DUAL USE, WE'RE GOING TO NEED IT AND WE'RE HAPPY TO BE MOVING FORWARD WITH THAT. THE DESIGN CONTRACT, IS ABOUT ESTIMATED TO BE ABOUT $5.3 MILLION. AND WE ARE MOVING FORWARD WITH THAT. WE'RE EXCITED ABOUT IT. ALSO IN THE DEVELOPMENT WORLD. WE ARE STILL IN THE PROCESS, OF COURSE, OF WORKING WITH MTG PARTNERS FOR CITY HALL REDEVELOPMENT. THE REDEVELOPMENT OF THIS BUILDING AND PARCEL, AS WELL AS THE DEVELOPMENT SERVICES BUILDING AND THE PARKING LOTS, THE CITY COUNCIL WILL BE MEETING TONIGHT AND EXECUTIVE SESSION TO REVIEW SOME OF THE DETAILS. WE WILL ALSO BE THEY'LL BE MAKING GIVING US DIRECTION, IF YOU WILL, IN TERMS OF HOW TO MOVE FORWARD WITH SOME FUTURE PUBLIC MEETINGS, GET PUBLIC INPUT. AS YOU CAN IMAGINE, THIS IS A VERY HIGH PROFILE REDEVELOPMENT PROJECT. THE MORE PUBLIC INPUT, THE BETTER. TO FOSTER AND FACILITATE PUBLIC COMMUNITY BUY IN. SO MUCH MORE TO FOLLOW ON THAT. BUT THAT IS MOVING ALONG NICELY. WE HAVE OF COURSE, YOU ALL KNOW ABOUT THE BOND ELECTION WE HAD ON MAY 4TH. WE HAD FOUR OF THE FIVE BONDS PASSED, ONE OF THEM BY TWO VOTES. SO IT WAS A RAZOR THIN, BUT IT PASSED, SO THE MUNICIPAL COURT FACILITIES DID NOT PASS. WE WILL HAVE TO GO BACK TO THE DRAWING BOARD AND FIGURE OUT WAYS TO UPGRADE THAT. BUT THE OTHER FOUR PASSED, THREE OF THEM OVERWHELMINGLY. SO. STAFF WILL IS WE'VE HAD A CAPITAL IMPROVEMENT TEAM MEETING SINCE THIS ELECTION. WE'RE ALREADY CHARTING OUT HOW WE'RE GOING TO ROLL OUT TO $243 MILLION. I THINK IT IS ROAD BOND, THAT'S A BIG PACKAGE. AND WE'RE GOING TO HAVE TO, WE'RE GOING TO LIVE OFF THAT CHEW OFF OF THAT FOR A NUMBER OF YEARS, AND, BUT IT'S EXCITING TO BE ABLE TO HAVE THAT, AUTHORIZATION FROM THE COMMUNITY TO MOVE FORWARD WITH IMPORTANT ROAD PROJECTS. AND THEN, OF COURSE, THE OTHER IS WITH PARKS AND PUBLIC SAFETY. OKAY WE ARE ALSO UNDERWAY WITH OUR DEMOCRATIC AND REPUBLICAN PRIMARY RUNOFF ELECTIONS, NOT A HUGE ELECTION, BUT THAT IS ON MAY 28TH. BUT EARLY VOTING STARTED YESTERDAY. SO THIS WEEK IS EARLY VOTING AND MUCH MORE. WE'LL SEE THE RESULTS OF THAT IN THE NEAR FUTURE. SO, ALSO, I WANTED TO SHARE WITH YOU THAT OUR FINANCING, CONGRATULATIONS TO OUR FINANCE TEAM, OUR FINANCE FOLKS HAVE EARNED THE SIXTH STAR, THE SIXTH TRANSPARENCY STAR FROM THE STATE COMPTROLLER. WE WERE THE FIRST PUBLIC BODY IN THE STATE OF TEXAS TO EARN THE FIVE STARS. WHEN IT CAME OUT, THE PROGRAM CAME OUT A NUMBER OF YEARS AGO. I THINK AROUND 2017. AND WE HAVE SINCE. WE ARE ONE OF ONLY TWO

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OFTENTIMES, THE UNHERALDED DEPARTMENTS, BUT THEY'RE REALLY THE ENGINE ROOM THAT MAKES THE SHIP RUN, BOTH FINANCE AND HUMAN RESOURCES. AND WE APPRECIATE ALL THEIR WORK. AND I WANTED TO GIVE THEM A PUBLIC PAT ON THE BACK FOR ALL THEIR CONTINUED WORK. AND LAST ITEM I HAVE IS THAT YOU MIGHT SEE IN THE COMING WEEKS, CART EXCHANGES, IF YOUR GARBAGE TOTES START LOOKING DIFFERENT, THAT'S FOR A REASON. THAT'S BY DESIGN. THEY'RE GOING TO BE BLUE AND GRAY AND GRAY FOR GARBAGE.

BLUE WILL CONTINUE TO BE THE RECYCLING COLOR. WE ARE, AS YOU KNOW, TRANSITIONING TO FRONTIER WASTE. IT IS OUR HAULER WHO BEGAN. THE CONTRACT WILL BEGIN OCTOBER ONE, BUT THEY ARE WORKING WITH OUR INCUMBENT CARRIER WASTE CONNECTIONS TO ON THE TRUCK THE TRANSITION OF CARTS. SO WASTE CONNECTIONS IS GOING TO COME START DROPPING OFF THE NEW ONES AND REPLACING AND TAKING UP THEIR OLD ONES, AND YOU'LL START SEEING THAT IN THE COMING MONTHS. SO DON'T DON'T FRET IF YOU HAVE NEIGHBORS WHO ASK YOU ABOUT IT, PLEASE SHARE WITH THEM THAT THAT IS ALL BY DESIGN. AS PART OF THE IMPLEMENTATION PROCESS OF CHANGING OVER NEW CARTS WITH A NEW CARRIER, AND I WILL STAND FOR ANY QUESTIONS. DO THEY RECYCLE THE GREEN ONES? I THINK THEY REUSE THEM FOR THOSE THAT CAN'T BE REPAINT THEM. YEAH OKAY. THANK YOU VERY MUCH. THANK YOU. I KNOW SOME PEOPLE THAT THOUGHT THAT MUNICIPAL COURTS ITEM WAS FOR TENNIS COURTS JUST.

YES SO ANYWAY, SERIOUSLY, THERE'S A LAWYER'S PERSPECTIVE FOR YOU. I THINK PEOPLE WERE VOTING AGAINST I THINK PEOPLE WERE VOTING AGAINST TENNIS COURTS. THAT'S JUST NOT RIGHT, I KNOW. PALKOWSKI. YEAH. ANYWAY ON THAT NOTE, WE HAVE CHAMBER OF COMMERCE. ELISA. ON THAT NOTE.

WELL GOOD MORNING EVERYONE. GOOD TO SEE YOU ALL, JUST A FEW THINGS THAT ARE HAPPENING AT THE CHAMBER, FIRST, I WANT TO SAY A BIG THANK YOU TO MCKINNEY ECONOMIC DEVELOPMENT CORPORATION FOR BEING A SPONSOR AT OUR GOLF TOURNAMENT, THIS SECOND TIER GOLF TOURNAMENT IN MCKINNEY, BEHIND THE BYRON NELSON, OF COURSE, BUT WE HAD A GREAT DAY AT STONEBRIDGE. THE RAIN HELD OFF JUST ENOUGH. AND SO THAT'S ONE OF OUR LARGEST FUNDRAISERS AT THE CHAMBER. AND SO IT'S IMPORTANT FOR US FOR IT TO BE SUCCESSFUL, BUT ALSO AS AN OPPORTUNITY FOR PEOPLE TO CONNECT AND, AND GET OUT FOR A GREAT DAY OF GOLF, A FEW OTHER THINGS WE ALSO JUST HAD OUR LEADERSHIP MCKINNEY GRADUATION. SO WE GRADUATED 30 NEW LEADERS INTO MCKINNEY, AND HOPEFULLY THEY ARE GOING TO BE GETTING PLUGGED IN IN DIFFERENT WAYS, WHETHER IT'S ON BOARDS AND COMMISSIONS OR RUNNING FOR OFFICE OR ON NONPROFITS, BUT WHILE WE GRADUATED, OUR LEADERSHIP CLASS, NOW WE ARE IN THE WITH THE TRANSITION OF PICKING THE NEW LEADERSHIP CLASS, OUR SELECTION COMMITTEE HAS ALREADY MET AND THEY HAVE DIVVIED UP OVER ALMOST 70 APPLICANTS FOR 35 SPOTS. AND THEY'LL BE CONDUCTING INTERVIEWS AND GOING THROUGH THAT PROCESS, AS A SIDE NOTE TO THAT, SOMETHING THAT IS VERY MUCH IN THE INFANCY STAGE, BUT WE ARE PLANNING TO HOPEFULLY LAUNCH IN THE FIRST QUARTER OF NEXT YEAR, IS AN EMERGING LEADERS PROGRAM.

SO IT'S SOMETHING THAT'S A LITTLE BIT MORE CONDENSED, NOT AS INTENSE AS A TEN MONTH LEADERSHIP. MCKINNEY PROGRAM, BUT WE'VE SEEN IN OTHER COMMUNITIES WHERE THEIR PROGRAM HAS FLOURISHED LIKE OURS HAS, THAT THEY'VE ADDED MORE TO THEIR LEADERSHIP PORTFOLIO, IF YOU WOULD, OFFERING SOME DIFFERENT TYPES OF PROGRAMS TO CONNECT MORE PEOPLE. IF WE HAVE PEOPLE THAT WANT TO BE CONNECTED AND LEARN AND GROW, WE WANT TO BE ABLE TO PROVIDE THOSE OPPORTUNITIES FOR THEM. SO MORE TO COME ON THAT. BUT WE'RE REALLY EXCITED. AND, ALSO KIND OF ON THAT SAME LEADERSHIP TRACK , I WANT TO MAKE SURE YOU'RE AWARE OF SERVE MCKINNEY. THAT'S THE PROGRAM THAT WE DO ONCE A YEAR, IT IS GOING TO BE JUNE 11TH. THIS IS WHERE WE INVITE ALL THE BOARDS AND COMMISSIONS FOR THE CITY, AS WELL AS THE NONPROFITS THAT SERVE OUR COMMUNITY. SERVE MCKINNEY, TO HAVE A FREE TABLE, AND THEN WE INVITE THE COMMUNITY TO COME OUT BECAUSE WE WANT PEOPLE TO LEARN ABOUT WAYS THAT THEY CAN SERVE, THEY CAN GIVE BACK, THEY CAN VOLUNTEER. IT'S NOT A FUNDRAISER FOR NONPROFITS. IT'S REALLY ABOUT LEVERAGE. ALL OF THE

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CDC. KITS. THAT FOR NOW, I PASS RIGHT NOW. GOOD MORNING, MR. CHAIRMAN. MR. PRESIDENT, MEMBERS OF THE EDC BOARD. GLAD TO BE HERE. A COUPLE OF UPDATES FROM THE CDC, THE BOARD RECENTLY APPROVED EIGHT RETAIL INFRASTRUCTURE GRANTS THAT SUPPORTED EXTERIOR INFRASTRUCTURE AND FIRE SUPPRESSION FOR BUILDINGS, PRIMARILY IN THE DOWNTOWN CULTURAL DISTRICT AND THEN TWO THAT ARE GATEWAYS INTO MCKINNEY AROUND THE EL DORADO AND 75 AREA. THIS WEEK AT THE BOARD MEETING, THE BOARD WILL TAKE ACTION ON SEVEN PROJECT GRANTS THAT INCLUDE SEVERAL BIG PROJECTS ONE FOR THE AIRPORT DESIGN AND INFRASTRUCTURE FOR THE EAST SIDE OF THE AIRPORT, THERE'S AN AFFORDABLE HOUSING REQUEST FROM SPHINX DEVELOPMENT.

MCKINNEY PARKS FOUNDATION AND EAST MCKINNEY LEARNING GARDEN, AND SEVERAL OTHERS. SO THOSE WILL BE ON THURSDAY'S MEETING AGENDA. WE'RE CURRENTLY ACCEPTING PROMOTIONAL GRANT APPLICATIONS THROUGH THE 31ST OF THIS MONTH FOR, THERE $15,000 PROMOTIONAL GRANTS REALLY FOCUSED ON EVENTS FOR FALL AND EARLY NEXT YEAR FOR THAT CYCLE. AND THERE ARE A COUPLE OF EVENTS COMING UP. SUPPORTED BY PROMOTIONAL GRANTS FROM CDC. ONE IS THE MCKINNEY PHILHARMONIC HAS A CONCERT SCHEDULED AT BOYD HIGH SCHOOL. AND IF YOU HAVEN'T BEEN TO ANY OF THOSE, THEY REALLY DO A TERRIFIC JOB. AND THEN THE FIRST WEEKEND IN JUNE, MILL HOUSE WILL HOST THEIR OUTDOOR MURAL FEST, WHERE THEY ACTUALLY ARE DOING OUTDOOR PAINTING, OUTDOOR MURALS AT THE COTTON MILL ON THE COTTON MILL. AND THEN THE LAST THING I'LL MENTION IS BUSINESS CONTINUES TO BE GOOD AT TUFTS. THEY'RE HOSTING GREAT EVENTS THIS PAST WEEKEND WAS HIPPIE FEST. THE WEEK BEFORE WAS R&B FESTIVAL BOHO MARKET. THEY HAVE HAD TO MAKE A COUPLE OF CHANGES ON THEIR SITE TO ACCOMMODATE ADA REQUIREMENTS, HOPING TO GET THEIR FINAL INSPECTION ON THE ADA FRONT.

THIS WEEK, AND GET THAT FINAL CO. THEY'RE OPERATING ON A TCO CURRENTLY AND I AM HAPPY TO STAND FOR ANY QUESTIONS. QUESTIONS THANK YOU. THANK YOU. ERIN. VISIT MCKINNEY. GOOD MORNING, MR. CHAIR. MR. PRESIDENT, MEMBERS OF THE BOARD AARON WARNER, EXECUTIVE DIRECTOR AT VISIT MCKINNEY, THIS MORNING, I'M GOING TO KEEP IT, TO ONE SUBJECT MATTER, AND THAT'S NATIONAL TRAVEL AND TOURISM WEEK , WHICH JUST KICKED OFF HERE IN MCKINNEY. SO EACH YEAR AROUND THIS TIME, WE GET A NEW DUMP OF DATA FOR THE PREVIOUS YEAR THAT SHOWS THE IMPACT OF, TOURISM IN OUR CITY FROM THE STATE. AND SO, AS A REMINDER, AND I KNOW YOU KNOW THIS BECAUSE WE WORK SO CLOSELY TOGETHER, BUT TRAVEL IS A FOUNDATION OF A THRIVING AMERICA. AND IT STRENGTHENS EVERY INDUSTRY, CREATES JOBS AND INJECTS REVENUE INTO COMMUNITIES, ULTIMATELY IMPROVING THE QUALITY OF LIFE OF OUR LOCAL RESIDENTS. SO IN MCKINNEY, IN 2023, TRAVEL GENERATED $283 MILLION IN DIRECT VISITOR SPENDING. AND THIS IS UP FROM PREVIOUS YEARS AND OBVIOUSLY A RECORD FOR MCKINNEY, 32.9 MILLION IN LOCAL TAX REVENUE FROM THE TOURISM RELATED

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HERE LOCALLY. WE ALSO HAVE ANOTHER DATA SOURCE THAT WE USE THAT USES GEOLOCATION AND SPIN DATA. AND IN THAT, IT SHOWS THAT 28% OF ALL SPENDING IN MCKINNEY IS DONE BY VISITORS FROM OUTSIDE OF A 50 MILE RADIUS THAT COME INTO OUR COMMUNITY SO THAT IS THE DEFINITION OF A VISITOR. IF YOU LOOK AT KIND OF THE GLOBAL PICTURE, IS SOMEONE WHO'S DRIVING FROM THAT FAR AND REALLY THINKING ABOUT OUR COMMUNITY. WE HAVE A LOT OF VISITORS, THAT WE CONSIDER VISITORS THAT ARE WITHIN THAT BECAUSE DFW IS A LITTLE DIFFERENT THAN LIKE A BEACH COMMUNITY WHERE YOU'RE TRAVELING TO LIKE A SINGLE DESTINATION AND YOU'RE JUST STAYING THERE THE WHOLE TIME. SO HONESTLY, I WAS IMPRESSED BY BY SEEING THAT NUMBER THERE TODAY AND ANTICIPATE THAT GOING UP IN THE FUTURE, AND LASTLY, WHEN WE LOOK AT THE POINT OF INTEREST THAT WERE VISITED THROUGH BY PEOPLE FROM OUTSIDE OF 50 MILES AND GREATER, THE HIGHEST VISITATION IN MCKINNEY CURRENTLY WERE TO OUR SPORTS FACILITIES, WHICH I THOUGHT WAS ALSO AN INTERESTING DATA POINT FOR YOU GUYS. AND PRESIDENT KOWSKI APPRECIATE. GABE NESBITT IS AT THE TOP OF THAT LIST, AND, AND THEN CRAIG RANCH AND OTHERS ARE STARTING TO CLIMB BACK UP NOW THAT IT'S BACK UP AND FULLY OPERATING. BUT SPORTS, CONSISTENTLY SHOWS UP AS A TOP REASON WHY PEOPLE TRAVEL TO MCKINNEY AND I THINK BETWEEN MEDC, MCDC AND OTHERS WITH THE INVESTMENT WE'VE MADE IN LOCALLY IN OUR SPORTS COMPLEXES, WE CAN APPRECIATE THAT AND MOVE FORWARD AND SEE WHERE IT GOES. SO THAT'S ALL I HAVE FOR YOU THIS MORNING AND I STAND FOR ANY QUESTIONS. QUESTIONS THANK YOU. MEDIC COMMITTEE UPDATES, MARKETING, WE MET, BUT NOTHING TO REPORT OUTSIDE OF THE MARKETING REPORT.

REAL ESTATE OR WE MET AS WELL. WE'LL TALK ABOUT A COUPLE OF THINGS IN OUR CLOSED SESSION.

FINANCE, WE MET, WE DISCUSSED THE BUDGET AND THE UPCOMING BUDGET TO BRING BEFORE THE BOARD . WE ALSO DISCUSSED THE LEASING OF THE KAIZEN BUILDING, WHICH IS GOING AS WE EXPECTED, SO INNOVATION, WE MET THERE'S TWO SIGNIFICANT, PLUG AND PLAY ACTIVITIES GOING ON THIS WEEK, I THINK WE HAD 300 PEOPLE PLUS REGISTERED, WHICH IS REALLY EXCITING. SO THAT'LL BE WEDNESDAY AND THURSDAY. IF YOU HAVE INTEREST, PLEASE COME ON BY. GREAT GOVERNANCE DID NOT MEET, WE WILL BE MEETING IN THE NEAR FUTURE. SO THAT'S IT ON THAT. OKAY. LAST BUT NOT LEAST, MY COMMENTS. COUPLE FEW THINGS ACTUALLY, I WAS GOING TO MENTION THE CHAMBER GOLF TOURNAMENT. SO THANK YOU FOR BRINGING THAT UP. THAT WAS A GREAT EVENT FOR THE CHAMBER OF COMMERCE, AND A LOT OF TURNOUT FROM A LOT OF THE GROUPS AND BUSINESSES AROUND THE CITY, WE ALSO DURING THE MONTH OF MAY HAD THE BYRON NELSON GOLF TOURNAMENT, WHICH WAS A SUCCESS AGAIN. AND, A LOT OF THINGS COME OUT OF THAT WE HAD AT THE MEDICI, BOOTH OR WHATEVER. WE HAD A NUMBER OF COMPANIES COME TO VISIT MCKINNEY, A NUMBER OF PROSPECTS. AND SO THAT WAS A SUCCESS FOR THE MEDICI, FROM AN ECONOMIC DEVELOPMENT STANDPOINT, BASED ON THE ECONOMIC STUDY OF THE SALESMANSHIP CLUB. THEY'RE ANTICIPATING, ON AVERAGE, THAT THAT TOURNAMENT BRINGS ABOUT, ON AVERAGE, ABOUT $35 MILLION A YEAR IN ECONOMIC IMPACT TO THE REGION AND TO THE LOCAL AREA, WHICH, YOU KNOW, DOVETAILS ON WHAT AARON WAS TALKING ABOUT AS FAR AS THE BENEFIT OF SPORTS IN OUR IN OUR, CITY, PLUG AND PLAY, AS MARK MENTIONED, IS GOING ON THIS, OUR FIRST, EVENT WITH PLUG AND PLAY. THEY WILL DO ANOTHER ONE IN JUNE. AND, TODAY WE HAVE TECH LEADERS GROUNDBREAKING AT NOON. SO A LOT GOING ON WITH THAT. AND THEN LAST BUT NOT LEAST, MICHAEL TALLEY, I WANT TO CONGRATULATE YOU ON YOUR RECOGNITION BY CONSULTANT CONNECT FOR BEING IN THE TOP 50 OF ECONOMIC DEVELOPERS IN THE CITY OF MCKINNEY. AND, THAT'S FANTASTIC. I APPRECIATE YOUR HARD WORK. AND YOU CERTAINLY

[Consider/Discuss MEDC Monthly Reports]

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SO I REALLY WANT TO THANK LUKE AND THE REST OF THE TEAM BACK AT THE OFFICE AND WHO'S TRAVELING THIS WEEK, BUT LET'S JUMP INTO ACTIVE PROJECT PIPELINES. WE HAVE 28 ACTIVE PROJECTS, COMMUNITY PRESENTATIONS, INDUSTRY COMMUNITY TWO AND TWO. I KNOW MR. KOSKI SPOKE YESTERDAY AND ALSO WAS SPEAKING TODAY AT ANOTHER EVENT, BERM VISITS. WE'RE TRYING TO RAMP THOSE UP BEFORE THE SUMMER REALLY HITS. AND THEN, YOU KNOW, BECAUSE A LOT OF PEOPLE TRAVEL AS FAR AS THE C-SUITE LEVELS. BUT I ALSO WANT TO TOUCH ON WHY WE DO THIS IN THE FIRST PLACE. YOU KNOW, BRIAN MENTIONED, TECH LEADERS. GROUNDBREAKING. THAT'S THAT'S NOT JUST ANOTHER COMPANY COMING IN. THAT'S A CONSIDERABLE INVESTMENT IN MCKINNEY WITH THE CAPITAL INVESTMENT OF OVER $7 MILLION, 140 JOBS BEING MOVED TO MCKINNEY AND THEN 100 NEW JOBS COMING IN HERE OVER THE NEXT 3 TO 5 YEARS. SO ALL SIX FIGURE AVERAGE WAGES. SO SOMETHING TO CELEBRATE. CERTAINLY. SO HAPPY TO STAND FOR. ANY QUESTIONS. QUESTIONS THANK YOU. THANK YOU. I'D BE GREAT FOR MARKETING.

GREAT. OUR MARKETING UPDATE AS USUAL FOR MR. LUKE. EXCITED MORNING MR. CHAIRMAN. MR. PRESIDENT MEMBERS OF THE BOARD LUKE GARY SOCIAL MEDIA MARKETING MANAGER FOR THE MEDICI BRIEF UPDATE TODAY. ALL THE INFORMATION IS THERE IN THE REPORT FOR YOU. JUST WANT TO SHOW YOU A COUPLE OF TRENDS, DINA, IF YOU WOULDN'T MIND GOING BACK TO THE KPI REPORT, I JUST WANT TO HIGHLIGHT SOME WEB VISITOR TRAFFIC. WE'RE TRENDING VERY HIGHLY IN OUR WEB TRAFFIC.

AN INTERESTING THING TO NOTE IS THAT OUR HIGHEST VISITED PAGE IS THE INNOVATION FUND. A COUPLE REASONS FOR THAT, WE ARE DOING SOME MARKETING THROUGH THE BIZ NOW MARKETING CAMPAIGN CHANNELS.

THE OTHER THING THAT'S HAPPENING IS WE'RE DOING A LOT OF SATURATED MARKETING IN TECH HEAVY CITIES LIKE LOS ANGELES, NEW YORK, CHICAGO, AND AS A RESULT, WE'RE SEEING A LOT OF TRAFFIC NOT ONLY TO OUR SITE, BUT PARTICULARLY THE INNOVATION FUND FOCUSED ASPECTS. SPEAKING OF THE INNOVATION FUND, KIND OF A FUN, SIDE EFFECT OF OUR PODCAST STUDIO HAS BEEN EQUIPPING THOSE 43 PORTFOLIO COMPANIES TO USE IT AS A RESOURCE. RIGHT. SO YOU'RE A STARTUP, YOU DON'T HAVE A LOT OF ASSETS. YOU DON'T HAVE A LOT OF MARKETING MATERIALS OR THINGS TO USE. AND SO US BEING ABLE TO OFFER THE STUDIO AS A SPACE HAS BEEN A HUGE BLESSING TO A LOT OF THESE COMPANIES. FOR EXAMPLE, STADIUM DROP RECENTLY FILMED A PROMOTIONAL VIDEO WITH, LEFT GUARD FOR DAK PRESCOTT, TYLER SMITH OF THE COWBOYS, WHO IS NOW COMING ON BOARD WITH STADIUM DROP TO BE THEIR, ONE OF THEIR ENDORSERS. AND SO HE WAS I GOT TO MEET A DALLAS COWBOY THIS WEEK OR LAST WEEK AND HAVE HIM IN OUR STUDIO AND NOT A PART OF OUR PODCAST. RIGHT. THAT'S JUST US USING A RESOURCE THAT WE HAVE BEYOND JUST WRITING CHECKS TO COMPANIES. HOW ARE WE SUPPORTING THE ECOSYSTEM AS A WHOLE? AND SO ON THAT NOTE, AS WELL, THE MCKINNEY MOMENTUM PODCAST CONTINUES TO BE A GREAT RESOURCE, AND WE WILL CLOSE OUT THE MONTH OF MAY WITH AN EPISODE FROM SEAN PRATT, MCKINNEY ISD SUPERINTENDENT, WHO WILL KIND OF AS THE SCHOOL YEAR ENDS, WE'LL KIND OF END THIS SEASON OF MCKINNEY MOMENTUM. WITH THAT, HE SHARED SOME GREAT TOPICS AND THINGS. SO I ENCOURAGE YOU TO CHECK THAT OUT. AND ON THAT I'LL STAND FOR ANY QUESTIONS. SO AN EMAIL MARKETING OPEN RATE OF 44% IS REMARKABLE. SO WHY IS THAT HAPPENING AND WHY IS OUR GOAL FOR THE YEAR ONLY 30, THAT'S A BIGGER QUESTION AS TO OUR KPIS AND HOW THOSE ARE SET, BUT I WILL SAY THAT ALL OF OUR WEB EMAIL IS VERY ALL OF OUR EMAIL CAMPAIGNS ARE VERY CURATED. SO WE DON'T JUST SEND TO HUGE, OVERARCHING CATCHALL LISTS. WE HAVE VERY TARGETED LISTS. SO REAL ESTATE BROKERS, THEY GET A LIST OR THEY GET A DEDICATED EMAIL SITE SELECTORS GET TO GET DEDICATED EMAIL. WE DO HAVE A COMMUNITY LIST THAT IS A CATCH ALL OF ABOUT 600 OR SO PEOPLE.

AND THAT PARTICULAR LIST SEES A LOWER OPEN RATE. BUT OUR AVERAGE I MEAN, YOU'RE RIGHT, 43% IS REMARKABLE. I MEAN, I'VE RUN CAMPAIGNS THAT HAD LIKE A 4% OPEN RATE. SO IF WE HAD 12, I'D BE HAPPY. YEAH, IT'S REALLY GOOD. NO, IT'S EXCEPTIONAL, BUT IT'S A IT'S A HIGHLY CURATED, HIGHLY INTENTIONAL EMAIL MARKETING STRATEGY, WHICH FOR ALL OF US MEANS YOU'RE NOT GETTING A BUNCH OF SPAM FROM THE MEDICI, WHICH IS A GOOD THING. THAT'S TRUE. YOU GET IF YOU'RE ON OUR LIST, YOU GET ONE EMAIL A MONTH. YEAH, I APPRECIATE IT. IT'S REALLY GOOD WORK. YEAH.

THANK YOU. MARK. OUR OUR MARKETING TEAM ROCKS. THAT'S WHY THAT'S TRUE. MARKETING COMMITTEE FOR THE WIN. THANK YOU. AWESOME THANK YOU. OKAY WE HAVE A REGULAR AGENDA ITEM 24 1562

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

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

YOU'RE SEEING A 15.1% INCREASE. WE HAD AUDIT COLLECTIONS, BUT OUR TRUE INCREASE WAS 8.3. AND THE AUDIT COLLECTIONS JUST KIND OF MEANS THAT'S MONEY THAT WE SHOULD HAVE COLLECTED IN THE PAST. SO THAT'S STILL, STUFF TO FACTOR IN, ALLEN HAD A 13.6% INCREASE. FRISCO BROKE ABOUT EVEN AND PLANO HAD A 13.7% DECREASE, WHICH IS NOT ACCURATE. THEY HAD AUDIT COLLECTIONS HURTING THEM THE WRONG WAY. AND THEIR TRUE INCREASE WAS ABOUT 8.3, WHICH IS JUST ABOUT WHAT WE WERE, BIGGER PICTURE THOUGH, IF YOU'RE LOOKING AT YEAR TO DATE, WE'RE AT 7.6% INCREASE AND UP $3.3 MILLION, WHICH IS, SUBSTANTIALLY ABOVE THE OTHERS. OUR SISTER CITIES OF WHERE THEY'RE TRENDING, YEAR TO DATE AS WELL. AND AND, TOUCHING ON THE SALES TAX BY INDUSTRY. THIS IS THE, LAST MONTH. YOU'LL SEE IT ON A BI MONTHLY BASIS. SO WHEN I'M DOING THE APRIL FINANCIALS, YOU'LL SEE WHAT YEAR TO DATE LOOKS LIKE, WAS A RECOMMENDATION FROM THE FINANCE COMMITTEE. BUT IF YOU'RE LOOKING THROUGH THEIR, CONSTRUCTION IRON WENT UP, OBVIOUSLY, WE'RE TALKING ABOUT A QUARTERLY CONCERN. A LOT OF CONSTRUCTION COMPANIES PAY ON A QUARTERLY BASIS, SO THEY END OF QUARTERS, THEY BUMP UP, AND THEN THEY KIND OF DROP BACK DOWN. RETAIL TRADE WAS STRONG AT 5, AND MANUFACTURING HAS BEEN STRONG ALL YEAR LONG AS WELL, SEEING A 52% THERE. AND I'LL MOVE ON TO APRIL REAL FAST IF THAT'S OKAY. OKAY INCOME STATEMENT COLLECTED ARRIVE ABOUT THE SAME AMOUNT IN SALES TAX REVENUE OR WE GOT 1.7 MILLION, WE ALSO HAD 50,000 AND INTEREST INCOME 53,000, IN MISCELLANEOUS REVENUE. AND WE TOTALED A LITTLE OVER 1.8 MILLION, IN REGARDS TO EXPENDITURES, ALSO REGULAR ORDINARY MONTH AS WELL, ABOUT 250,000 OPERATIONAL EXPENSES, 224,000 IN PROJECT EXPENSES. THEN YOUR 237,000 IN NON-DEPARTMENTAL TOTAL EXPENSES WAS A LITTLE OVER 700,000, FOR A NET INCREASE OF 1.1 MILLION. AND LOOKING AT SALES TAX FOR APRIL. THIS APPLIES TO THE MONTH OF FEBRUARY. AND ALL THESE NUMBERS ARE PRETTY ACCURATE BECAUSE THAT'S PLANO, 13% INCREASE IS WHAT OUR TRULY WE HAD WAS A REALLY STRONG MONTH FOR US. NO AUDIT COLLECTIONS KIND OF SKEWED THAT DATA, ALLEN HAD A 3.6% DECREASE. FRISCO HAD 11.1% INCREASE. AND PLANO KIND OF HELPED BALANCE THEM OUT FOR THE LAST MONTH. THE COMPTROLLER IS DOING SOMETHING THERE, BUT THEIR INCREASE WAS ABOUT 8% AS WELL.

AND THEN WE'RE LOOKING AT YEAR TO DATE AGAIN, KIND OF ECHOING WHAT I SAID LAST MONTH OR GOING OFF THE LAST MONTH'S FINANCIALS. WE'RE AT AN 8.3% INCREASE RIGHT NOW. YOU KNOW, WE BUDGETED ABOUT A 4.5% INCREASE. SO WE'RE TRENDING WELL ABOVE BUDGET, AND THEN YOU CAN KIND OF SEE HOW WE'RE COMPARING TO SISTER CITIES AS WELL. AND THEN OUR NEW SALES TAX KIND OF THIS SHOWS THE YEAR TO DATE. SO YOU CAN SEE HOW INDUSTRY LOOKS FOR THE WHOLE YEAR. IT KIND OF HELPS GET A BIGGER PICTURE, WHICH WAS A GREAT RECOMMENDATION FROM THE FINANCE COMMITTEE. AND YOU SEE THAT RETAIL TRADE'S TRENDING AT THAT 5. BUT WE ALSO HAVE MANUFACTURING KIND OF LEADING THE WAY AT 40, YOU KIND OF SEE IT ALL THE WAY THERE THAT IT'S STILL ABOUT EVEN, THEY FLUCTUATE MONTH TO MONTH. BUT IF YOU'RE LOOKING AT A YEAR TO YEAR BASIS, IT'S KIND OF WHAT YOU WOULD EXPECT. BUT I'D BE HAPPY TO ANSWER ANY QUESTIONS. QUESTIONS WE JUST WANT TO SAY CONGRATULATIONS ON THE SIX STARS. WE KNOW IT'S ALL BECAUSE OF YOU. SO BECAUSE OF OUR TEAM.

YEAH, ALL OUR TEAM. BUT THAT IS A YOU KNOW, WE ARE MORE TRANSPARENT THAN ABOUT EVERY OTHER, SISTER CITY AND A LOT ABOUT EVERY OTHER CITY IN THE STATE OF TEXAS AS WELL. SO YOU COULD GET SOME EPAULETS ON YOUR SUIT JACKET WITH SIX STARS ACROSS, SIX STAR GENERAL, A BIG BUTTON OR SOMETHING. AT LEAST. SOMETHING. YEAH. THANK YOU, THANK YOU SIR. YEP. ALL RIGHT.

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WE HAVE PUBLIC COMMENTS REGARDING MATTERS NOT ON THE AGENDA. ANYBODY LIKE TO ADDRESS

[BOARD COMMENTS]

[EXECUTIVE SESSION]

[ACTION ON EXECUTIVE SESSION]