READY. ARE YOU READY NOW? OKAY. AWESOME. GOOD AFTERNOON AND WELCOME TO THE MCKINNEY ECONOMIC
[CALL TO ORDER]
[00:00:11]
DEVELOPMENT CORPORATION BOARD MEETING. SPECIAL BOARD MEETING ON TUESDAY, MARCH 18TH, 2025. IT IS I DON'T KNOW WHAT TIME IT IS. 2:00 LIKE 210 04204 THANK YOU. PM ON TUESDAY, MARCH 18TH, 2025 WE'RE IN THE COUNCIL CHAMBERS AT THE NEW COUNCIL CHAMBERS AT 401 EAST VIRGINIA STREET IN MCKINNEY, TEXAS. 75069 PURSUANT TO THE TEXAS GOVERNMENT CODE, A QUORUM OF THE CITY COUNCIL MAY BE PRESENT, BUT NO CITY COUNCIL ACTION WILL BE TAKEN AT THIS MEETING. MEETING IS BEING BROADCAST STREAMED LIVE THROUGH THE CITY'S WEBSITE, SO ANYBODY WISHING TO WATCH THE MEETING MAY DO SO BY GOING TO MCKINNEY. TEXAS. DOT N E W DOT SWAG COMM BACKSLASH VIEWS BACKSLASH 130.VERY EASY TO FIND. AND AT THAT TIME, AT THIS TIME, THE FIRST ITEM ON OUR AGENDA IS PUBLIC COMMENTS ON AGENDA ITEMS FOR NON PUBLIC HEARING ITEMS. IF THERE'S ANYBODY IN THE AUDIENCE THAT WOULD LIKE TO ADDRESS THE MEDICI BOARD AT THIS TIME ON AN AGENDA ITEM, PLEASE DO SO. SEEING NONE,
[CONSENT ITEMS]
I'LL MOVE ON TO CONSENT AGENDA ITEMS. THESE ARE ITEMS THAT ARE NONCONTROVERSIAL OR HOUSEKEEPING ITEMS REQUIRED BY LAW. THEY MAY BE CONSIDERED INDIVIDUALLY BY ANY BOARD MEMBER OR BE TAKEN UP AS A GROUP. WE HAVE TWO ITEMS, BOTH OF THEM MINUTES. THE FIRST ITEM 25 254 SEVEN MINUTES OF THE MEDICI CORPORATION BOARD MEETING OF JANUARY 21ST. THE SECOND 25 254 EIGHT MINUTES OF MCKINNEY ECONOMIC DEVELOPMENT CORPORATION BOARD OF FEBRUARY 18TH, 2025. IF THERE ARE NO QUESTIONS, COMMENTS OR CHANGES, I'LL TAKE A MOTION ON BOTH. I'LL MAKE A MOTION TO APPROVE. SECOND. WE HAVE A MOTION BY JULIE WILLIAMS. THE SECOND BY SCOTT. SCOTT SAYS MARK DENISON. THAT'S FINE. MIKE. OH, HE PUSHED A BUTTON. SECOND BY MARK DENISON FIRST TO GET THE BUTTON. SO CAST YOUR VOTES. CAME ON. AND THAT MOTION PASSES BECAUSE EVERYBODY SAID YAY YAY YAY YAY. SO HOW EXCITING IS[Board and Liaison Updates MEDC Committee Updates Board Chairman]
THAT? EVERYTHING WORKED. YAY! ALL RIGHT. NEXT WE HAVE REPORTS 25 2549 BOARD AND LIAISON UPDATES. DO WE HAVE ANY COMMITTEE UPDATES ANYTHING FROM MARKETING? WE MET LAST FRIDAY, REVIEWED A LOT OF EVENTS COMING UP, INCLUDING THE BYRON, AND WE'LL HAVE UPDATES FOR THE BOARD SHORTLY. ALL RIGHT. REAL ESTATE. YES, SIR. WE MET LAST WEEK AND WE HAVE SEVERAL ITEMS TO GO OVER IN EXECUTIVE SESSION FINANCE. WE ALSO MET LAST WEEK AND HAVE ITEMS TO REVIEW IN EXECUTIVE SESSION INNOVATION. NOTHING TO REPORT AND WE HAVE NOTHING TO REPORT ON GOVERNANCE. NEXT WILL BE THE. SO IS MCDC VISIT MCKINNEY. THEY'RE NOT DOING A REPORT TODAY CORRECT. ALL RIGHT.[Consider/Discuss MEDC Monthly Reports]
NEXT WILL BE 25 550. CONSIDER DISCUSS MONTHLY REPORTS MR. KOWSKI. SO AT THIS TIME I WANT TO GIVE A SHOUT OUT TO A FEW PEOPLE HERE. ONE IS MELANIE MOLINA CELEBRATING FIVE YEARS WITH THE CITY OF MCKINNEY. CONGRATULATIONS. CONGRATULATIONS. I ALSO WANT TO GIVE A SPECIAL SHOUT OUT TO SOME PEOPLE UP HERE. BRIAN LOCKMILLER, CHAIRMAN LOCKMILLER DID A GREAT JOB AT THE CHAMBER AWARDS EVENT ANNOUNCING A WILL MAVERICK POWER AND RAYTHEON IS WINNERS OF OUR RECENT AWARD, SO KUDOS TO YOU. AND OF COURSE, I'D BE REMISS IF I DIDN'T CALL OUT MATT AND JULIE UP HERE FOR THEIR RECOGNITIONS. JULIE WINNING LEADERSHIP, MCKINNEY ALUMNI OF THE YEAR AND MATT MAIN STREET PARTNER OF THE YEAR. SO CONGRATULATIONS. THANK YOU. AND WITH THAT, I'LL ASK MR. MICHAEL TALLEY, SENIOR VICE PRESIDENT, TO SPEAK ABOUT THE STATUS OF OUR ORGANIZATION. THANK YOU, BOARD. MR. CHAIRMAN. MR. PRESIDENT, I'M GOING TO JUMP RIGHT INTO OUR NEW ECONOMIC INCENTIVES FUNNEL. COULD SKIP TO THE NEXT SLIDE PLEASE. SO THIS IS GOING TO BE OUR LEAD ACTIVE LEGAL DOCS AND OFFER LETTER. AS FAR AS THE BREAKOUT THE CAPEX IS 4.8 BILLION. GO AHEAD AND JUMP TO THE NEXT SLIDE. WE'RE PROBABLY GOING TO HAVE TO BREAK THIS OUT A LITTLE BIT DIFFERENTLY HERE IN THE FUTURE. FOR YOU, JUST FROM THE CAPEX BEING 4.8, THAT'S ACTUALLY ACTIVE AND LEADS. SO YOUR LEADS IS JUST ABOUT 1.3. AND THEN YOUR ACTIVE IS ABOUT 3.5. SO WE'LL PROBABLY WORK WITH ERIC ON THAT. JUST TO MAKE THAT A LITTLE BIT MORE FOR YOU IN THE FUTURE. THE NEXT PLEASE COMPLIANCE REPORT. SO THIS IS A NEW SLIDE. THIS IS SOMETHING DINA IN OUR OFFICE HAS BEEN WORKING ON WITH ERIC. MR. KOSKI WILL SHOW YOUR CAPITAL[00:05:05]
INVESTMENT AND YOUR JOBS AND OBLIGATIONS MET. SO THE COMPANY HAS FULFILLED THE REQUIREMENTS OUTLINED IN ITS GRANT AGREEMENT. YOUR. WE CAN DO EITHER IN PROGRESS COMPLIANCE DOCUMENTATION IS STILL PENDING AND THEN OBLIGATIONS NOT MET. SO THIS IS SOMETHING WHERE THEY'RE OUT OF COMPLIANCE. BUT WE CAN ACTUALLY WORK CONTINUE WORKING WITH THEM, WORKING WITH THE COMPANY. MAYBE THEY'VE NOT MET THEIR JOB NUMBERS OR THEIR CAPEX. MAYBE IT'S A MUTUAL TERMINATION AND RELEASE. OR WE HAVE TO LOOK AT A CLAWBACK SITUATION, WHICH WE OBVIOUSLY DON'T LIKE TO JUMP INTO IF IT'S NOT NECESSARY. AND THIS ACTUALLY GOES BACK TO IF YOU SEE THE NUMBER TOTAL, 57 TOTAL PROJECTS GOES BACK TO 2017. SO 2017 THROUGH 2025, WE CAN GET YOU THAT BREAKOUT AS WELL. WE MAY ADD THAT AS WELL HERE IN THE FUTURE. ALL RIGHT. AND THAT'S ALL I HAVE I'LL STAND FOR ANY QUESTIONS QUESTIONS ON ANY OF THESE REPORTS. NO QUESTIONS NONE. THANK YOU THANK YOU. NEXT. SO MANAGER LUCA WILL COME UP HERE AND SPEAK ABOUT OUR MARKETING EFFORTS AND BEYOND. GOOD AFTERNOON, MR. CHAIRMAN. MR. PRESIDENT, MEMBERS OF THE BOARD, LUKE GHAJAR MARKETING AND SOCIAL MEDIA MANAGER FOR THE MCKINNEY ECONOMIC DEVELOPMENT CORPORATION. I'M GOING TO GIVE YOU A BRIEF OVERVIEW OF OUR MARKETING EFFORTS. AS ALWAYS, THERE IS A REPORT ATTACHED THAT YOU CAN REVIEW FOR MORE DETAILED ANALYTICS OF ALL OF OUR CAMPAIGNS. SOCIAL MEDIA WEBSITE GROWTH. SHORT STORY OF IT IS WE HAVE GREAT TRENDING UPWARD MOMENTUM WITH OUR WEBSITE TRAFFIC AND AD CAMPAIGNS. I JUST WANT TO SPOTLIGHT BRIEFLY FOR YOU TODAY, THE BYRON NELSON. WE ARE ABOUT SIX WEEKS AWAY. THIS IS BY AND LARGE, OUR BIGGEST MARKETING EFFORT THAT WE HAVE IS AN OPPORTUNITY TO SHOWCASE MCKINNEY AND SPECIAL, SPECIAL SHOUT OUT TO SHANNON ROBERTS, WHO IS ON OUR TEAM EXECUTING BEAUTIFULLY. EVERYTHING. BYRON NELSON GETTING US ALL HERDED TOGETHER LIKE THE CATS WE ARE TO PULL TOGETHER FOR THE BYRON NELSON. SO SHE'S DOING A WONDERFUL JOB. BEEN HERE JUST SHORT OF FIVE MONTHS, BUT YOU WOULD THINK IT'S FIVE YEARS. AND THE WAY THAT SHE PULLS EVERYTHING TOGETHER TO MAKE HAPPEN. SO YOU'LL BE SEEING MORE AMPLIFICATION OF OUR BYRON NELSON. BYRON NELSON EFFORTS.ALSO JULIE WILLIAMS THIS MORNING DID A GREAT JOB INTERVIEWING JOHN DRAGO FOR THE CHAMBER'S CEO SERIES, AND HE GAVE SOME GREAT TIDBITS AND NUGGETS ABOUT MCKINNEY, WHY IT'S BETTER HERE THAN IT HAS BEEN ANYWHERE ELSE AS A TOURNAMENT, AND WE MAY OR MAY NOT HAVE CAPTURED SOME VIDEO CONTENT OF THAT THAT YOU'LL BE SEEING ON OUR SOCIAL MEDIA CHANNELS HERE SHORTLY. SO WITH THAT, I WILL STAND FOR ANY QUESTIONS. QUESTIONS. THANK YOU. OKAY. THANK YOU. THANKS. NEXT WE
[Consider/Discuss/Act on the January 2025 Financials]
HAVE OUR REGULAR AGENDA 20 555 1ST JANUARY 2025. FINANCIALS. CHANCE. GOOD AFTERNOON, CHANCE MILLER ACCOUNTING MANAGER. WE'LL BE GOING OVER THE MONTH OF JANUARY TODAY WHICH WAS A VERY ACTIVE MONTH FOR THE MEDC. THIS IS GOING TO WORK FOR ME. CAN YOU SWITCH TO THE INCOME STATEMENT OR I THOUGHT IT WOULD. ON. OH SORRY. THIS IS NOT. PERFECT. OH NOPE. JUST KIDDING OKAY. ALL RIGHT. FOR JANUARY, WE HAD A VERY ACTIVE MONTH, LIKE I MENTIONED FOR REVENUES AND EXPENDITURES, SALES TAX. WE COLLECTED ALMOST $2 MILLION. INTEREST INCOME WAS 120,000. WE ALSO HAD MISCELLANEOUS REVENUES OF A LITTLE OVER 200,000. SO THAT TOTALED 2.2 MILLION FOR THE MONTH OF JANUARY. THE MISCELLANEOUS REVENUE WAS A COUPLE OF PROJECTS THAT WE HAD CALLBACKS ON FOR COMPLIANCE FOR THE MONTH OF JANUARY. MOVING ON TO EXPENDITURES, WE HAD 543,000 IN OPERATIONAL EXPENSES. IT WAS A VERY ACTIVE MONTH FOR PROJECTS AS WELL AS WE PUT OUT $2 MILLION, WHICH IS, YOU KNOW, THE COMPANIES THAT WE INCENTIVIZE HITTING THEIR MILESTONES, WHICH IS WHICH IS A REALLY GOOD SIGN. MOVING ON TO NON-DEPARTMENTAL, WE HAD TO 245,000 AND NON-DEPARTMENTAL EXPENSES, AND THAT TOTALED $2.8 MILLION. FOR THE MONTH OF JANUARY, WE HAD A NET DECREASE OF SLIGHTLY OVER 600,000. IF WE MOVE ON TO SALES TAX, I CAN'T DO IT. ONE MORE.THIS IS NOT. EXPECTING THAT. I DON'T HAVE ANYTHING UP HERE, SO I DON'T OH, YOU'RE NOT SEEING ANYTHING ON MY SCREEN. I MEAN I CAN SEE UP THERE BUT I CAN TALK ABOUT IT UP THERE. THAT'S FINE.
THAT'S AS GOOD AS WE CAN GET IT OVER HERE. OKAY. THERE YOU GO. OKAY. I CAN TALK ABOUT IT FROM HERE. THAT'S FINE. WE'LL GO. OKAY. SO GOING OVER JANUARY COLLECTIONS, THIS APPLIES TO THE
[00:10:03]
MONTH OF NOVEMBER. SO NOVEMBER SALES. YOU CAN SEE THAT MCKINNEY HAD A 4.5% DECREASE. ALLEN HAD A 4.9% DECREASE, FRISCO HAD A 5.5% INCREASE AND PLANO HAD A 3.4% INCREASE. PLANO WAS A LITTLE MISLEADING. THEY HAD AUDIT COLLECTIONS THAT THEIR TRUE INCREASE, THEY PRETTY MUCH BROKE EVEN FOR THE MONTH OF NOVEMBER SALES. YOU CAN SEE THE STORY THAT NOVEMBER WAS NOT AS STRONG FOR THE NORTH TEXAS AREA. NOW YOU CAN SEE THAT BRINGS OUR YEAR TO DATE TO 2.3%. WHAT I WANT TO TOUCH ON IS THAT WE ACTUALLY HAVE GOTTEN DECEMBER SALES IN, AND THAT DID. IT WAS A VERY STRONG MONTH. WE ACTUALLY HAD THE BEST MONTH COMPARED TO ALL THE SISTER CITIES UP HERE, WHICH BROUGHT OUR YEAR TO DATE INCREASE UP TO 4% OFF DECEMBER, WHICH DECEMBER IS OUR BIGGEST MONTH. SO IF WE'RE GETTING A BIG INCREASE OVER THAT, THEN THAT TREND IS MORE THAN THE OTHER MONTHS, RESPECTIVELY. SO DECEMBER COMING IN STRONG FOR US. ALLEN AND FRISCO PLANO STILL HAD A DOWN MONTH FOR DECEMBER SALES AS WELL, SO IT IS SOMETHING THAT OUR TEAM IS LOOKING AT. WE ACTUALLY HAVE A FEW MEETINGS KIND OF SEEING OVER THE OVERARCHING THOUGHT PROCESS AND WHAT WE NEED TO DO MOVING FORWARD TO KIND OF GIVE YOU ALL BETTER ANALYTICS ON THAT. BUT I WILL SAY AT THE END OF AFTER YOU FACTOR IN DECEMBER SALES, WE HAVE A 4% INCREASE, WHICH IS TRENDING, AND HOPEFULLY A FEW MORE STRONG MONTHS WILL GET US TO THAT 5%. AND IF WE TOUCH ON THE SALES TAX BY INDUSTRIES AT THE BOTTOM, YOU CAN HARDLY SEE IT. BUT RETAIL TRADE WAS ONLY UP 1% AT THE END OF JANUARY. NOW AFTER DECEMBER THAT GETS UP TO 8%. SO RETAIL TRADE HAD A VERY STRONG MONTH IN DECEMBER. NOW WE ARE IN WE'RE YOU KNOW, WE ONLY HAVE THREE FOUR MONTHS. WE'RE WORKING WITH DATA. SO ONE STRONG MONTH DOESN'T MAKE IT VOLATILE. AND THE PERCENTAGES AS WE GET FURTHER IN THE YEAR, A MONTH LIKE THAT WILL NOT MAKE AS MUCH OF A DIFFERENCE ON THE YEAR TO DATE PERCENTAGES. BUT AFTER I NEXT MONTH WHEN I PRESENT DECEMBER'S YOU'LL, I THINK YOU'LL LIKE THESE NUMBERS A LOT BETTER, ESPECIALLY THE RETAIL TRADE AND THE RETAIL OR THE SALES TAX BY INDUSTRY. I'LL BE HAPPY TO ANSWER ANY QUESTIONS THOUGH. ANY QUESTIONS? NOPE. WE NEED A MOTION. THANK YOU. WANT TO MAKE A MOTION TO APPROVE TO APPROVE THE FINANCIALS AS PRESENTED SECOND. MOTION BY MARK DENISON. SECOND BY TED HELSLEY. CAST YOUR VOTES. MOTION PASSES.NEXT ITEM IS PUBLIC COMMENTS REGARDING MATTERS NOT ON THE AGENDA. IS THERE ANYBODY WOULD
[EXECUTIVE SESSION]
LIKE TO ADDRESS THE BOARD? ALRIGHT THEN WE WILL GO INTO EXECUTIVE SESSION IN ACCORDANCE WITH TEXAS GOVERNMENT CODE SECTION 551071, SUBPARAGRAPH TWO CONSULTATION WITH ATTORNEY ON ANY WORK SESSION OR REGULAR SESSION. AGENDA ITEM REQUIRING CONFIDENTIAL ATTORNEY CLIENT ADVICE NECESSITATED BY THE DELIBERATIONS OR DISCUSSIONS OF SAID ITEMS AS NEEDED. LEGAL CONSULTATION ON THE FOLLOWING ITEMS 551071 PENDING OR CONTEMPLATED LITIGATION 551072 DELIBERATIONS ABOUT REAL PROPERTY AS SET FORTH IN THE AGENDA. SECTION 551087 DELIBERATION REGARDING ECONOMIC DEVELOPMENT MATTERS, ALSO AS SET FORTH IN THE AGENDA. THE ITEMS ALL BEING POSTED AT THIS TIME IT IS WHERE IS THE CLOCK IN THIS ROOM? TWO 1717 217. THANK YOU.217 AND WE WILL ADJOURN INTO EXECUTIVE SESSION, AND WE'LL BET HIM? YEAH. WE'RE HOT. ALL RIGHT.
EVERYBODY UP HERE. ALL RIGHT, WE'RE OUT OF. WE'RE OUT OF EXECUTIVE SESSION AT 3:08 P.M.
[ACTION ON EXECUTIVE SESSION]
AT THIS TIME, WE WILL TAKE ACTION ON A FEW FEW ITEMS. WE HAVE RESOLVED. LAWSUIT ONE.OKAY. FIRST OF ALL, WITH REGARD TO SECTION 551071, SUBPARAGRAPH A, CONTEMPLATING AND CONTEMPLATED LITIGATION. I'LL ENTERTAIN A MOTION. I'LL MAKE A MOTION AS AS WE DISCUSSED IN EXECUTIVE SESSION. WE HAVE A SECOND. I'LL SECOND. MOTION BY SCOTT WOODRUFF. SECOND BY THAD HOUSLEY. CAST YOUR VOTES. ALL RIGHT. NEXT, WITH REGARD TO 551072 DELIBERATIONS ABOUT REAL PROPERTY. I'LL MAKE A MOTION TO APPROVE AN OFFER. AUTHORIZE THE PURCHASE AND RELATING. CLOSING ON 182.624 ACRE TRACT OF LAND IN THE RH LOCK SURVEY. ABSTRACT NUMBER 517. CITY OF MCKINNEY, COLLIN COUNTY, TEXAS. AND FURTHER AUTHORIZE OUR PRESIDENT TO EXECUTE ALL NECESSARY DOCUMENTS RELATED THERETO, INCLUDING ANY REQUIRED INTERFUND LOAN WITH THE CITY OF MCKINNEY.
WHICH LOAN SHALL HAVE A MATURITY DATE CORRESPONDING TO THE FUNDING OF THE MEDICI'S AUTHORIZED BOND ISSUANCE FOR SAID LAND PURCHASE. I WILL SECOND. I HIT THE MOTION BUTTON.
OH, WELL, THERE YOU GO. THERE YOU GO. AND WE HAVE A MOTION. AND SECOND BY JULIE. CAST YOUR
[00:15:05]
VOTES. THAT MOTION PASSES. NEXT WE HAVE A MOTION ON. BAYOU. BAYOU. I'LL MAKE A MOTION THAT WE APPROVE THIS ITEM. AS PER OUR DISCUSSION IN EXECUTIVE SESSION. SECOND. MOTION BY THAT. HOUSLEY.SECOND BY MARK DENNISON. ALREADY ON MOTION TO ADJOURN. VOTING. SOMEHOW. VOTE. WHO PUT THE MOTION UP? OKAY. THERE WE GO. THAT'S A MOTION TO. MOTION TO ADJOURN. OH, WAIT. THAT'S A MOTION TO ADJOURN WITH YOUR VOTE. GOT TO GO BACK. WE'LL CHANGE IT. OKAY. SOMEBODY WANTS TO LEAVE. THE DRAWER. VOTE. MOTION. THAT'S NOT THE RIGHT MOTION. WE GOT TO GO BACK. WE ARE NOT ADJOURNED. SHOULD I START OVER? NO. WE CAN EDIT IT. WE CAN EDIT THE MOTION IN THE MINUTES. SO THAT WAS THE MOTION ON PROJECT BAYOU. AND THAT MOTION PASSED PROJECT SPARKY.
YES, SIR. DO WE HAVE A MOTION ON PROJECT SPARKY? MAKE A MOTION AS AS WE DISCUSSED IN EXECUTIVE SESSION. WE HAVE A SECOND TO SECOND. THAT THE SAME? WE'RE REALLY ADJOURNED. LET THE RECORD REFLECT THAT. IT SAYS MOTION TO ADJOURN. BUT WE ARE NOT ADJOURNING. A MOTION ADJOURNED.
MOTION PASSED. WE'RE GOOD NOW. WE'RE GOOD. OKAY. AT THIS POINT, I'LL ENTERTAIN A MOTION TO ADJOURN. I'LL SECOND IT. ALL RIGHT. I'LL BEAT YOU TO IT. OH, DID WE HAVE A MOTION BY SCOTT WOODRUFF? WE HAVE A SECOND BY ROBERT HAMILTON IN THE VOICE OF JULIE WILLIAMS. CAST YOUR VOTES.
WE ARE ADJOURNED.
* This transcript was compiled from uncorrected Closed Captioning.