[00:00:01]
I'M GUESSING THEY'RE HERE WITH
[I. COMMENCEMENT]
YOU'D BE HELD ON THURSDAY, AUGUST 25TH, 2022 AT 7:00 PM.AND THE COUNCIL CHAMBERS PUT CITY HALL LOCATED AT
5, 5, 1 0.07 FOR PERSONNEL MATTERS.
5 5, 1 0.076 DELIBERATION ABOUT SECURITY DEVICES, 5 5, 1 0.087 ECONOMIC DEVELOPMENT, 4 1 8 0.17 5.183 DELIBERATIONS ABOUT HOMELAND SECURITY ISSUES AND IS AUTHORIZED BY THE TEXAS TAX CODE INCLUDED, BUT NOT LIMITED TO SECTION 3, 2, 1 0.302 TO SALES TAX INFORMATION.
THE AGENDA AGENDA PACKET AND MEETING LINK INFORMATION ARE POSTED ON THE CITY'S WEBSITE AT WWW CLUTE, TEXAS.GOV PUBLIC COMMENT WOULD BE ALLOWED IN PERSON TO REGISTER TO SPEAK OR TO SUBMIT WRITTEN COMMENTS.
PLEASE EMAIL CITY CLERK, RAJI POINT OF IT@ROSIEATTEXAS.GOV, AT LEAST TWO HOURS IN ADVANCE OF THE MEETINGS.
ALL PUBLIC COMMENTS WILL OCCUR AT THE BEGINNING OF THE MEETING UNDER THE PUBLIC COMMENT ITEM, A RECORDING OF THE TELEPHONE VIDEO MEETING WILL BE MADE AVAILABLE TO THE PUBLIC IN ACCORDANCE WITH THE OPEN MEETINGS ACT UPON WRITTEN REQUEST.
UH, THE MEETING HAS NOW BEEN CALLED TO ORDER, UH, MS. BOND
YOU CAN CONTINUE TO BE WITH THE
[III. CONSENT AGENDA]
IN MY PACKET FOR READING THAT THE NEXT ITEM, WHICH IS THE CONSENT AGENDA ITEMS LISTED UNDER THE CONSENT OF GENDER CONSENTED ROUTINE, OR GENERALLY INACTIVE IN ONE MOTION.THE EXCEPTION TO THIS RULE IS A COUNCIL MEMBER, MAYBE ONE MORNING OUT OF BEING REMOVED FROM THE CONSENT AGENDA FOR SEPARATE ACTION.
THAT AGENDA CONSISTENT MINUTES JOINT MEETING TO REGULAR CITY COUNCIL MEETINGS.
IF YOU LIE THE 14TH 2022 AT 7:00 PM, FIRST BURGLARY BUDGET WORKSHOP, JULY 16TH, 2022 AT 8:00 AM, AND THEN A SPECIAL MEETING AND FINAL BUDGET WORKSHOP ON AUGUST THE 4 20 22 AT 6:30 PM.
DO I HAVE A MOTION TO APPROVE THE CONSENT AGENDA?
HE NEED TO BE REMOVED ANY DISCUSSION, HEARING NONE ALL THE TIME TO VOTE ALL IN FAVOR.
[IV. BUSINESS ITEMS]
ITEM WILL BE BUSINESS.UH, IT, IT IS CITY OF PLUTE PROCLAMATION.
WHEREAS LAYLO GARCIA HAD MARGARITA TORRES UNITED IN MARRIAGE.
IT PROVIDED A LOVING HOME TO 11 CHILDREN WITH AN ADDITIONAL CHILD FROM A LATER MARRIAGE.
THEY WERE CENTERED ON FAITH AMONG FAMILY, FAITH, LOVE AND HOPE.
AND WHEREAS THE FIRST OFFICIAL GARCIA FAMILY REUNION WAS HELD IN CLUTE, TEXAS IN 1987.
AND THIS YEAR THE GARCIA FAMILY WILL ONCE AGAIN, HOST THEIR REUNION, INCLUDE DETECTIVES.
AND WHEREAS THE REUNION WILL BE HELD ON SEPTEMBER THE THIRD, 2022 DURING THEIR LABOR DAY, WEEKEND AND EFFORTS TO HONOR FAMILY MEMBERS WHO HAVE SERVED IN THE ARMED FORCES AND IN LAW ENFORCEMENT.
[00:05:02]
WHEREAS FIVE MEMBERS OF THIS FAMILY STOOD UP TO SERVE AND DEFEND OUR REPUBLIC.THOSE BEING PETE IN THE MARINES FROM 1951 TO 1953, JULIO IN THE NAVY FROM 1959 TO 1963, EDWARD IN THE NAVY FROM 1959 TO 1963 OSCAR IN THE ARMY FROM 1968 TO 1970 DAVID IN THE ARMY FROM 1972 TO 1974, ENLISTED TO PROTECT THE DEFENDANT, OUR COUNTRIES.
AND THEN IN ADDITION, COUNTLESS NEPHEWS, IN-LAWS COUSINS AND GRADUATED GRANDCHILDREN CONTINUED THE TRADITION OF PROUDLY SERVING THE UNITED STATES OF AMERICA.
WHEREAS FAMILY REUNION PROVIDE FOR AN OPPORTUNITY FOR ALL IN ATTENDANCE TO CELEBRATE A SHARED HERITAGE AND FAMILY TIES, RECOGNIZED MARRIAGES, BURSTS, AND HONOR ALL THOSE WHO HAVE PASSED ON TO BE WITH THE LORD.
NOW, THEREFORE I, CALVIN HIPLET BEAR THE CITY OF CLUTE, TEXAS DO HEREBY PROCLAIM.
WE CALLED UPON OFFICERS, THE CITY OF CLUES TO HONOR AND ACKNOWLEDGE THE GARCIA FAMILY AS THEY JOINED TOGETHER FOR THEIR REUNION, WHO TO HONOR ALL OF THE MEN AND WOMEN WHO SERVED AND HAVE SERVED IN THE BRANCHES OF THE ARMED FORCES AND IN LAW ENFORCEMENT TO PROTECT OUR COUNTRY AND OUR COMMUNITIES IN WITNESS.
WHEREOF HERE TO SET MY HAND TO CAUSE IT TO SEAL THE CITY CLUTE TO BE A, THE 25TH DAY OF AUGUST, 2022.
I THINK WE HAVE SOME FAMILY REPRESENTATIVES HERE THAT ARE GOING TO ACCEPT THE LICENSE COUNT.
THE NEXT ITEM WOULD BE A CONSIDERATION, THE POP, THE TO ADOPT RESOLUTION 31 DASH 2022, THE APPROVAL OF THE LOW-INCOME HOUSING CREDIT APPLICATION.
AND IT WOULD BE RESOLUTION NUMBER 31 DASH 2022 RESOLUTION TO THE CITY COUNCIL.
LET'S SEE, FLUKE, TEXAS HAVE NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT APPLICATION FOR THE REHABILITATION OF THE LIFE AT FOREST VIEW AND APPROVING NEGOTIATION AND EXECUTION OF CORPORATIVE AGREEMENT AS DEEMED NECESSARY OR DESIRABLE FURTHER IT'S THERE.
WHEREAS A LAUGH AT FOREST VIEW, LPN AFFILIATE OF OLIVE TREE INVESTMENT HOLDINGS COMPANY, LLC, COLLECTIVELY THE APPLICANT HAS PROPOSED OR REHABILITATION OF A 520 UNIT MULTIFAMILY AND RURAL HOUSING DEVELOPMENT NAMED AND LAUGH AT FOREST VIEW DEVELOPMENT LOCATED AT 2 0 1 HACKBERRY IN THE CITY OF POLLUTE THE CITY.
WHEREAS THE AFRICAN HAS COMMUNICATE TO THE CITY THAT THEY DID TENDS TO SUBMIT AN APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS, D D A C A FOR NONCOMPETITIVE 4% HOUSING TAX CREDITS TO BE USED IN CONJUNCTION WITH PRIVATE ACTIVITY, BOND FUNDS TO FINANCE A PORTION OF THE COST OF THE REHABILITATION FOR THE DEVELOPMENT WHERE CITY COUNCIL, THE CITY FINDS THERE'S A NEED FOR A QUALIFIED BOND ISSUER, NAMELY AN INSTRUMENT INSTRUMENTALITIES MR. MENDELEY OF THE HOUSING AUTHORITY OF TEXARKANA, TEXAS TO EXERCISE ITS POWERS IN THE CITY TO EFFECTUATE THE ISSUANCE OF THE BONDS AND ACCOMPLISH OTHER ACTIONS THAT MAY BE DEEMED NECESSARY OR DESIRABLE THE FURTHER.
SO THE REBEL REHABILITATION OF THE DEVELOPMENT NOW, THEREFORE BE RESOLVED BY THE CITY COUNCIL CITY CLERK, TEXAS.
FIRST THAT THE CITY HERE BY SUPPORTS THE PROPOSED REHABILITATION OF THE LIFE OF FOREST.
YOU HAD CONFIRMS THAT THE CITY COUNCIL OF THE CITY AND VOTED SPECIFICALLY TO APPROVE THE REHABILITATION
[00:10:01]
OF THE DEVELOPMENT, HAD TO AUTHORIZE IT NOW ALLOCATION OF HOUSING TAX CREDITS FOR THE DEVELOPMENT.SECOND, IT IS HEREBY FOUND THAT THE CITY COUNCIL, THE CITY THAT I NOTICED HAS BEEN APPROVED, ONE NOTICE HAVE BEEN APPROVED, BEEN PROVIDED TO THE CITY COUNCIL OF THE CITY BY THE APPLICANT OF ITS ATTEMPT TO FILE AN APPLICATION FOR HOUSING TAX CREDITS, DEEDEE EIGHT CA TO THE CITY OF THE CITY COUNCIL CITY HAD SUFFICIENT OPPORTUNITY TO OBTAIN A RESPONSE FROM THE APPLICANT REGARDING ANY QUESTIONS OR CONCERNS ABOUT BOTH ONE, THREE, THE CITY OF THE, THE COUNCIL, THE CITY COUNCIL OF THE CITY HAS HELD A HEARING AT WHICH PUBLIC COMMENT MAY BE MADE ON THE PROPOSALS OUTPUT BEFORE OR AFTER DUE CONSIDERATION.
THE INFORMATION PROVIDED BY THE APPLICANT HAD PUBLIC COMMENT.
THE CITY COUNCIL, THE CITY DOES NOT OBJECT TO THE PROPOSED APPLICATION.
THIRD THAT FAR, AND ON BEHALF OF THE CITY COUNCIL OF THE CITY, THE CITY HEREBY AUTHORIZES EMPIRES AND DIRECTS THE MAYOR OR THE CITY MANAGER OR HIS OR HER DESIGNATED AGENT TO CERTIFY THESE RESOLUTIONS TO THE TDA CA FOURTH, THAT THE CITY COUNCIL OF THE CITY HEREBY APPROVES ADOPTS A PYRE DIRECTS AND AUTHORIZES THE MAYOR OF THE CITY MAYOR OR THE CITY MANAGER OR HIS OR HER DESIGNATED AGENT TO NEGOTIATE AND EXECUTE A CORPORATE AGREEMENT WITH THE HOUSING AUTHORITY OF TEXARKANA, TEXAS, OR ITS INSTRUMENT TOUTED INSTRUMENTALLY AS DEEMED NECESSARY AND ARE DESIRABLE TO EFFECTUATE.
THE RESOLUTION'S CONTEMPLATED HERE, INCLUDING THE ISSUANCE OF THE BONDS.
HIS RESOLUTION WAS DULY PASSED ON BLANK DAY OF BLANK YEAR OF BLANK MONTH ON 2022.
AND IT WOULD BE SIGNED BY MYSELF WITH A TESTED BY ROAD APPOINTMENTS.
IF Y'ALL REMEMBER, THIS WAS BEFORE US BOTH BEFORE AND NO ACTION TAKEN ON IT.
UH, THE COUNTY COMMISSIONERS HAVE CAME BACK AND TALKED TO US ABOUT IT AND EXPLAIN TO US HOW THIS IS GOING TO WORK.
WE HAVE SOME REPRESENTATIVES HERE THAT WOULD BE MORE THAN WILLING TO, TO ANSWER ANY QUESTIONS, BUT THE UNDERSTANDING IS IN ORDER FOR THEM TO APPLY FOR THE FUNDING WITH THE TDAC, THEY NEED A RESOLUTION FROM THE CITY OF POLLUTE, UH, THAT THEY HAVE A PROPOSAL.
I MEAN, UH, A PROGRAM THAT THEY WILL SHOW YOU WHERE THEY HAVE THEIR ATTENTIONS TO IMPROVE THE UNITS.
UH, 15 MILLION, I BELIEVE WAS THE NUMBER SOMEWHERE IN THAT NEIGHBORHOOD, $15 MILLION INVESTMENT IN THOSE APARTMENTS TO MAKE THEM CLEAN THEM UP AND SECURE THEM, UH, NEW LIGHTING CAMERAS, A LOT OF IMPROVEMENTS OVER THERE TO MAKE THE PLACE A LOT MORE DESIRABLE AND SAFE, AS WELL AS A DESIGNATED SCREENING PROCESS FOR ALL OF THE, UH, POTENTIAL RENTERS OR OCCUPANTS.
UH, I LEFT OUT ANYTHING AND Y'ALL ARE WELCOME THAT.
THAT WAS 500 SOMETHING UNITS OF 820 UNITS.
ARE THEY EMPTY RIGHT NOW? NOT ALL OF THEM.
IF I REMEMBER CORRECTLY LAST TIME, UH, I MEAN I'M FOR THE RENOVATIONS AND EVERYTHING, BUT I KNOW THAT THERE WERE SOME CONCERNS AMONG THE COUNCIL OVER.
WE HAD, I THINK THERE WAS A COUPLE OF DIFFERENT CONCERNS.
ONE WAS THE SECURITY AT THE SITE, AS WELL AS THE POTENTIAL IMPACT TO THE AVALARA VALUATION ON THE PROPERTY, ACCORDING TO OLIVE TREE AND THE COMMISSIONERS, THEY DON'T BELIEVE THERE'S ANY NEGATIVE IMPACT TOWARDS THE VALUATION ON THE PROPERTY.
IN ADDITION, THIS WOULD ONLY INCREASE THE VALUE OF THE PROPERTY THAT YOU WERE INVESTING AS A $15.6 MILLION.
UM, WE HAVE VERY, UH, I THINK FRANK AND CANDID CONVERSATION MONDAY MORNING WITH THESE GENTLEMEN, UH, ABOUT HOW THE MESSAGE WAS DELIVERED LAST TIME.
AND ALSO SOME OF OUR CONCERNS ABOUT THE NATURE OF THE OPERATIONS OVER THERE, AS IT RELATES TO THE MANAGEMENT, THEY'VE MADE A CHANGE IN MANAGEMENT AND HAVE COMMITTED TO OPERATING SECURITY AT THE SITE.
SO, AND AS I RECALL, I THINK THAT WITH REGARD TO THE, THE AD VALOREM QUESTION IS THAT THERE THERE'S SOME APARTMENT COMPLEXES THAT DIDN'T GO JUST ON PROPERTY VALUE, BUT ON, UH, THE INCOME, THEY WERE APPRAISED BASED ON INCOME.
AND IF THERE'S ISSUANCE OF $15 MILLION OF DEBT, AND THEN THEY HAVE DEBT SERVICE FOR 15 MILLION, WHICH IS A EXPENSE, WOULD THAT EAT UP ANY PROFIT? AND THEN IF THEY GO UNDER A, A INCOME VALUATION FOR TECHS FOR PROPERTY TAX, WOULD THAT MEAN ZERO OUT OR REDUCE THEIR PROPERTY TAX? I THINK THAT WAS THE QUESTION SPECIFICALLY LAST TIME, AS I RECALL,
[00:15:04]
WELL, LET ME SAY, UH, I CAN UNDERSTAND WHY COUNCIL IS GUNSHOT BECAUSE WE'VE BEEN TO THIS TROUGH BEFORE.AND, UH, WE CAN'T GET MUCH PAST THEM GETTING PEOPLE GETTING THE PERMIT, BUT THEY DON'T GO, WELL, LET ME, LET ME ADD ONE THING THAT I LEFT OUT IN THE ADDITIONAL EXPLANATION, UH, IF THEY RECEIVED THE FUNDS FROM THIS SETTLEMENT, THEY WILL HAVE TO OPERATE THEM SOLELY FOR 15 YEARS, 10 TO 15 YEARS IF I REMEMBER FOR EXPENSIVE.
SO, I MEAN, IT WON'T BE LIKE SOME OF THE WOUNDS IN THE PAST WHERE THEY BOUGHT IT AND TURNED AROUND AND SOLD THEM TWO MONTHS LATER THAT THEIR INVESTMENT IS AS I, THAT WAS MY ONLY CONCERN IS A BONAFIDE INVESTMENT OR WE'VE BEEN HERE BEFORE, YOU KNOW WHAT I MEAN? AND ALSO I LEFT OUT IN THE ACTIVATION, UH, LIKE I SAID, WE WERE, WE WERE AT A CONVERSATION WITH A COUPLE OF OUR COMMISSIONERS ON DAY, AS MR. SNACK SAID, THERE'S A SIMILAR PROJECT TO THIS THAT WENT ON TO DANBERRY THE COMMISSIONER FOR THAT FRISEE SAYS THAT IT IS A ADMIRABLE PLACE, VERY CLEAN, VERY WELL RAILED.
UH, HE SAID, HE'D MOVE HIS MOTHER IN THERE.
IF HE THOUGHT SHE NEEDED TO BE IN THERE.
WAS IT THE SAME SIZE? WAS IT THE SAME SIZE COMPLEX IN DENVER? HE DID NOT SAY HOW BIG IT WAS WITHOUT BEING TOO BOLD.
CAN I ASK ONE QUESTION? HOW DID WE GET INTO CONVERSATION WITH THE COUNTY COMMISSIONERS ABOUT IT? THEY CALL THEY CALLED TALK TO Y'ALL ABOUT THIS PROJECT THAT THEY'D ALREADY BEEN APPROACHED TO BUY THEM ON ASSIGNMENT.
ALSO ONE OF THE PREFERABLY ONE OF THE REFERENCES TO THIS IS Y'ALL REMEMBER BACK A FEW MONTHS AGO, THERE WAS SOME DISCUSSIONS ABOUT SETTING UP A DEVELOPMENT FOR REFUGEES THAT WAS THIS PARTICULAR COMPLEX.
AND THAT WAS RECENTLY DEFINITELY TOO MUCH BURDEN ON THE SCHOOL DISTRICTS, POLICE, BORDERS, EVERYTHING ELSE.
AND THAT IS MY CONCERN CITY RELATED AS FAR AS WELL.
EXACTLY WHAT OUR ATTORNEY OR STATED THOSE ARE MY CONCERNS.
UH, YEAH, WELL, AND I THINK, AND I DON'T KNOW, YOU'RE GOING TO EXPLAIN, BUT, YOU KNOW, I JUST DID A LITTLE QUICK MATH IT'S, YOU KNOW, 15 MILLION GUESSING, RIGHT IN TURN, YOU KNOW, THAT WE MAYBE AROUND 90,000 A MONTH FOR DEBT SERVICE, IF IT'S JUST STRAIGHT UP 20 YEAR BOND OR WHATEVER.
SO I'M JUST CURIOUS ON WHAT Y'ALL'S DEBT SERVICE WILL BE AND HOW THAT WOULD AFFECT YOU ALSO APPRAISAL.
SO, UH, I'LL, I'LL ATTEMPT TO ANSWER THAT THE BEST I CAN WITHOUT HAVING A SPECIFIC NUMBER OFF THE TOP OF MY HEAD, BUT IN THIS CASE, WE'RE REALLY NOT CHANGING THE ACTUAL RENT OF THE, OF THE APARTMENTS THAT MUCH.
SO THE, THE INCOME THAT COMES IN AND THE BONDS ARE ISSUED, UM, BY A TAX EXEMPT ENTITIES, WE HAD TO BRING IN A HOUSING AUTHORITY TO ISSUE THOSE BONDS.
SO THERE REALLY SHOULDN'T BE THAT MUCH ADDITIONAL DEBT SERVICE THAT WOULD IMPACT THE, THE VALUE OF THE PROPERTY.
IN THIS CASE, WE'RE LOOKING AT MAKING AN ADDITIONAL $15 MILLION INVESTMENT IN THE PROPERTY, WHICH TYPICALLY GETS APPRAISED AND THEN VALUE INTO THE VALUE OF THE PROPERTIES.
SO WE'RE INVESTED $15 MILLION IN THIS PROPERTY AND NOT INTENDING TO GET A RATE INCREASE ON THE RENT.
IS THAT BECAUSE WE WOULDN'T BE PAID THAT THERE WILL BE SUBSIDIES THAT PAYS RENT? WELL, IT SHOULD BE CLEAR THAT THE INVESTMENT IN THE PROPERTY IS A PRIVATE INVESTMENT.
SO WHAT HAPPENS IS WE COMPETE DEVELOPERS ACROSS THE STATE COMPLETE FOR THESE TAX CREDITS THAT THE STATE OF TEXAS ISSUES OUT, UM, A HOUSING AUTHORITY ISSUES, THE BONDS, AND THEN SELLS THOSE BONDS NOW IN THE PUBLIC MARKETS.
SO THERE WOULD BE NO ECONOMIC IMPACT TO CITY OF CLUES IN TERMS OF MAKING THAT INVESTMENT.
THAT IS SOMETHING THAT WE GO OUT AND PRIVATELY FINANCE USING THOSE BONDS.
NOW THE ECONOMIC IMPACT COMES BACK WITH THE AMOUNT OF TAXES THAT ARE REPAID VERSUS THE CITY SERVICES AT OUR APARTMENT COMPLEX USES SHORT THAT'S.
THE SHORT OF MY CONCERN MAKES COMPLETE SENSE.
SO IN THIS CASE, IT'S AN EXISTING APARTMENT COMPLEX.
AND WHAT WE'RE DOING IS WE'RE GOING IN THERE AND REALLY IMPROVING THE SECURITY ON THE PROPERTY.
SO THIS IS EVERYTHING FROM NEW LIGHTING, NEW SECURITY CAMERAS, WHERE WE'RE UPGRADING THE MANAGEMENT, UPGRADING THE UNITS, SCREENING, ALL NEW TENANTS WHO COME IN IN TERMS OF, UH, ANY BACKGROUND CHECKS OR ANY CRIMINAL PAST.
SO WE HAVE, WE HAVE THE STRONGEST, UH, BACKGROUND CHECKS AS WE'RE ALLOWED TO UNDER THESE, UM,
[00:20:01]
UNDER THESE FUNDING SOURCES.SO WE SHOULDN'T BE INCREASING ANY COST ON CITY SERVICES, GIVEN THE FACT THAT WE'RE JUST IMPROVING WHAT EXISTS TODAY, BUT Y'ALL NEED A RESOLUTION FROM US FOR Y'ALL TO BORROW THE 15.6 MILLION.
UM, IN ORDER FOR US TO, UM, PUT THE APPLICATIONS INTO THE STATE, WE NEED TO CHECK IN WITH THE LOCAL COMMUNITIES TO MAKE SURE THAT THE LOCAL COMMUNITIES ARE OR OKAY WITH IT.
SO ESSENTIALLY THAT IS WHAT THE RESOLUTION IS, IS SAYING THAT THE LOCAL COMMUNITY SUPPORTS THE REINVESTMENT IN THIS PROPERTY.
SO I GUESS, AND I WASN'T PART OF THE CONVERSATION THAT YOU'LL HAVE WITH THE, WITH THE COMMISSIONERS.
BUT I GUESS YOU'RE TELLING THE CITY COUNCIL, THE CITY OF KLUTE THAT Y'ALL ARE NOT GOING TO IN THE FUTURE REQUEST THE APPRAISAL DISTRICT TO CHANGE THE APPRAISAL METHOD TO THE INCOME METHOD, BECAUSE Y'ALL HAVE LOT MORE EXPENSE NOW, RIGHT? SO YOUR PROFIT WILL BE LOWER, RIGHT? INSTEAD Y'ALL, WE'LL STICK WITH MARKET VALUE REPLACEMENT VALUE OR TRADITIONAL APPRAISAL, PROPER, NOT TRYING TO MAKE ANY CHANGES TO HOW THIS IS ASSESSED.
BUT IN REALITY, HE HAS NO CONTROL OVER THAT, THAT COMES THROUGH THE APPRAISAL DISTRICT.
SO THAT'S, WHAT'S GOING TO HAPPEN.
WELL, THAT'S, WHAT'S HAPPENED TO EVERY APARTMENT COMPLEX IN THERE.
THEY DON'T PAY A MARKET VALUE OF PROPERTY.
I DON'T KNOW NONE OF THEM DID.
I DON'T KNOW IF THAT, I DON'T KNOW IF THE PROPERTY GOES TO APPRAISAL DISTRICT, IT SAYS, HEY, Y'ALL ARE TREATING THIS A FAIR Y'ALL SHOULD PRAISE US ON THE INCOME APPROACH AND CONVINCES THEM TO DO THAT.
ALL I KNOW, AT LEAST IF THEY'RE TELLING US THEY'RE NOT GOING TO DO IT, THEN NO, THEY DON'T HAVE ANY CONTROL.
THEY DON'T CONTROL WHETHER THEY PLAY INCOME BASE OR WHETHER THEY PLAY MARKET VALUE, BROTHER.
THEY DON'T CONTROL THAT CORRECT TO THE TAX STATEMENT.
WE DON'T CONTROL HOW THE, HOW THE ASSESSORS.
MY COLLEAGUE DAVID, UP HERE TO ANSWER, LET ME CHIME IN.
SO, UM, AT THE END OF THE DAY, IT IS A BUSINESS VENTURE.
THE REASON WE'D GO THROUGH SUCH IMPROVEMENTS OF THE PROPERTY IN PART IS TO CREATE LAST THING, AFFORDABLE HOUSING.
SO THIS WILL BE AN AFFORDABLE HOUSING PROPERTY FOR THE FORESEEABLE FUTURE.
IT'S AN INITIAL COMPLIANCE PERIOD OF 15 YEARS.
AND THE EXTENDED USE PERIOD OF 15 YEARS.
THE REASON YOU GO THROUGH THESE IMPROVEMENTS IS TO MAKE IT ABLE TO DO THAT FINANCIALLY.
SO THESE IMPROVEMENTS WILL LOWER.
THEY'LL ALLOW US TO BE ABLE TO AFFORD TO RUN THEM AT THE CURRENT RENT LEVELS, BUT WITH LOWER EXPENSES BECAUSE WE'VE GONE THROUGH THE CAPITAL IMPROVEMENTS TO BE ABLE TO OPERATE THE PROPERTY.
SO FROM AN INCOME PERSPECTIVE, IN TERMS OF DEBT SERVICE, WE DON'T ANTICIPATE MUCH OF A DIFFERENCE.
WE'RE CURRENTLY IN A FLOATING RATE BRIDGE DEBT SITUATION RIGHT NOW.
SO IN THIS CURRENT INTEREST RATE ENVIRONMENT, WE'RE PAYING MORE ON OUR DEBT SERVICE THAN WE EVER HAVE.
WE'VE ALSO GONE THROUGH OVER $5 MILLION OF IMPROVEMENTS AT THE PROPERTY ALREADY, WHICH INCLUDES ABOUT 3 MILLION OF WHICH THAT WERE FUNDED THROUGH DEBT SERVICE.
SO WE'VE ALREADY INCREASED THAT, THAT SERVICE, THIS ACTUALLY, UH, LIKELY BECAUSE IT'S A LONGER AMORTIZATION SHOULD BE IN THE SAME BALLPARK, BUT WE'LL HAVE LOWER OPERATING EXPENSES BECAUSE WE'VE GONE THROUGH THE IMPROVEMENTS SO THAT EVERY TIME SOMEONE MOVES OUT AREN'T AS MANY MAINTENANCE COSTS TO IMPROVE THE INSIDE OF THE UNITS.
WHEN IT'S TIME TO ADVERTISE THE PROPERTY ON LINE, WE DON'T HAVE TO GO THROUGH AS MUCH ADVERTISING BECAUSE IT'S EFFECTIVELY A BRAND NEW PROPERTY THAT'S SITTING THERE.
AND SO FROM AN INCOME PERSPECTIVE, IT NET WILL NOT MAKE A MASSIVE DIFFERENCE IN EITHER DIRECTION.
UH, AND IN INTERNALLY IN ALL OF OUR PROJECTIONS, WE DO NOT EXPECT OUR TAXES TO GO DOWN.
IF ANYTHING, WE ARE PREPARED FOR THEM TO NOMINALLY GO UP.
SO NONE OF OUR UNDERWRITING INCLUDES ANY SORT OF TAX REDUCTION WHEN Y'ALL WERE HERE.
NOTHING'S REALLY CHANGED THE GENTLEMAN WHO CAME REPRESENTING US BEFORE IT WAS AN OUTSIDE ADVISOR WHO HAS BEEN THROUGH THESE SORT OF MEETINGS BEFORE, AND IT HAS EXPERIENCED MEETING AND EXPLAINING THESE PROGRAMS, BUT HE DID MISREPRESENT THE EXACT NATURE OF THE PROGRAM.
WE'VE ALWAYS INTENDED TO GET THIS RESOLUTION IN ORDER TO PROCEED AT ALL.
AND AS AN ASIDE, WE WOULD NEVER PROCEED WITH ANY PROGRAM WITHOUT THE FULL SUPPORT OF THE COMMUNITY.
SO AS YOU HAD RAISED PREVIOUSLY, THERE WAS THIS CONVERSATION WITH THE COMMISSIONERS ABOUT POTENTIAL REFUGEE HOUSING, WHICH IS HOW WE GET RE-ENGAGED THIS CONVERSATION AS WE HAD BEEN IN CONTACT WITH THEM PREVIOUSLY, UH, AND THE RESULT OF THAT CONVERSATION WAS THAT THE COMMUNITY WAS NOT FULLY PREPARED TO TAKE ON THAT PROGRAM AND WE IMMEDIATELY BACKED OFF.
UH, AND SO IT'S THE SAME NATURE HERE.
WE'RE LOOKING FOR A PROGRAM THAT BENEFITS THE COMMUNITY.
WE'LL IMPROVE THIS PROPERTY IN A WAY THAT IT'S NEVER BEFORE SEEN.
AS YOU KNOW, THIS PROPERTY HAS A
[00:25:01]
LONG HISTORY.AT ONE POINT, I THINK ABOUT SEVEN YEARS AGO, WAS HE BEEN CONDEMNED AND HAD GONE THROUGH CAPITAL IMPROVEMENTS AND IT'S REALLY COME A TREMENDOUS WAY.
THIS WILL ALLOW US TO REALLY FINISH THIS PROPERTY AND LEAVE KLUTE WITH EFFECTIVELY A BRAND NEW PROPERTY IN A PLACE WHERE THERE WAS OTHERWISE A BLIGHTED PROPERTY.
SO, UH, WE, WE CERTAINLY THE COMMUNITY SUPPORT AND NOTHING HAS CHANGED ON THE SO Y'ALL WERE THE PART OF THE REFUGEE DEAL.
SO THIS IS A NEW STAB OR NEW PLANS.
W WE ARE NOT ACTIVELY PURSUING ANY SORT OF REFUGEE HOUSING PROJECT AT THIS PROPERTY.
WE HAD MET WITH, UH, THE COUNTY SHERIFF, AS WELL AS THE COUNTY JUDGE AND THE COUNTY COMMISSIONER, UH, AS WELL AS, UH, THE CHIEF OF POLICE CLUE.
AND THE GENERAL CONSENSUS WAS THAT THE BURDEN IT WOULD PLACE ON THE LOCAL RESOURCES WAS TOO MUCH.
AND WE TOOK THAT AT FACE VALUE AND SAID, WE WOULDN'T PROCEED.
SO THIS IS AN ALTERNATIVE PATH THAT WE'RE LOOKING TO PROCEED WITH TO BE ABLE TO RUN THIS PROPERTY LONG-TERM AND HAD THE FUNDING THAT BASICALLY FEDERAL FUNDING, CORRECT? CORRECT.
SO THE, UH, THE LYTEC TAX CREDITS ARE FEDERAL TAX CREDITS THAT WE EFFECTIVELY SELL TO TAX CREDIT.
INVESTORS THINK THAT THE TAX MISNOMER SUGGESTED THAT IMPACTS PROPERTY TAXES IT'S COMPLETELY SEPARATE AND HAS NOTHING TO DO WITH IT.
I GUESS I HEARD HER SOMEWHERE THAT I WAS TRYING TO READ IT IN HERE.
IT WAS HERE, BUT THAT, UH, YOU'RE GOING TO BE SCREENING PEOPLE.
THAT'S GONNA LIVE THERE FOR THEIR BACKGROUND OR A CRIMINAL BACKGROUND.
WHAT HAVE YOU, AND, UH, TO THE EXTENT OF THE, TO THE, TO THE EXTENT THEY CAN, THEY, THERE THERE'S GUIDELINES THAT THEY HAVE TO FOLLOW IT.
SO IS THAT HOW WE'RE GOING TO WIND UP WITH A CLEAN 520 UNITS TO GO THROUGH THEIR HOUSE? PEOPLE ARE GOING TO BE TOLD THEY GOT, THEY GOT A LIT MOVE FOR WHAT ARE, DO THEY A LARGE MAJORITY OF THE CURRENT TENANTS QUALIFIED PROGRAM? UH, OUR INTENT IS NOT TO DISPLACE THE PEOPLE THAT CURRENTLY LIVE THERE.
I THINK THE SCREENING COMMENT IS JUST A FURTHER INTO OUR CONVERSATION EARLIER THIS WEEK.
UH, WE DESCRIBED SOME OF THE PROTOCOLS THAT WE USE AND SOME OF THE PROTOCOLS WE'RE GOING TO CONTINUE TO USE.
SO, UM, WHEN WE ACQUIRED THE PROPERTY IN 2019, WE ENDED UP VACATING IT TO NEARLY 20%.
MANY OF THE PEOPLE THERE WEREN'T ON PROPER LEASES.
UH, WE WERE DISSATISFIED WITH THE PROTOCOLS THAT PROPER MANAGEMENT HAD TAKEN FOR SCREENING, THOSE THAT LIVE THERE.
UH, WE HAVE NOW AT LEAST THE PROPERTY BACK UP INTO THE 80% OCCUPIED AND SEA RANGE.
IT'S ABOUT 85% OCCUPIED TODAY.
UH, AND EVERYONE THAT LIVES THERE HAS GONE THROUGH THE STRICTEST POSSIBLE CRIMINAL SCREENING CRITERIA THAT WE'RE ALLOWED TO USE, UH, UNDER CURRENT GUIDELINES THAT, THAT WE'RE SUBJECT TO.
UH, WE ALSO USE CERTAIN TECHNOLOGIES.
ONE OF THEM, UM, IS CALLED A CHECKPOINT ID WHERE WE SCREEN THEIR ID AGAINST BIOMETRICS AND TRY AND AVOID FRAUD.
AS IN OUR DISCUSSION EARLIER THIS WEEK, THERE ARE SEVERAL FAMILIES THERE.
UM, MORE, I SHOULDN'T SAY FAMILIES, REALLY INDIVIDUALS THERE THAT, UH, AREN'T NECESSARILY ON A LEASE, BUT ARE UNDER SOMEBODY ELSE'S LEASE AND UNDER SOMEBODY ELSE'S UNIT.
AND WE APPRECIATE THIS CANDID FEEDBACK.
WE CURRENTLY HAVE TWO POLICE OFFICERS AT THE BON SITE, AND WE DO EVERYTHING WE CAN TO PROVIDE A SAFE PLACE AS POSSIBLE.
SO WE'RE OBVIOUSLY LOOKING INTO THAT AND TAKE WHATEVER STEPS WE CAN TO AVOID THOSE SITUATIONS FROM HAPPENING.
AND AS PART OF THIS PROGRAM, WE'LL CONTINUE TO DO THAT.
WE, OVER THE LAST THREE YEARS HAVE SPENT OVER $200,000 IN SECURITY COSTS ALONE.
WE CURRENTLY EMPLOY OFF-DUTY POLICE OFFICERS TO SECURE THE SITE, WHICH IS A ANOTHER EXAMPLE OF HOW WE REALLY TRY AND NOT BURDEN THE COMMUNITY RESOURCES, UH, AND TAKE IT INTO OUR OWN HANDS TO SECURE OUR OWN PROPERTY AS MUCH AS WE CAN.
SO THE TWO OFFICERS THAT LIVE THERE HAVE COMPED RENT IN ORDER FOR THEM TO PROVIDE A COURTESY OFFICER SERVICES.
UH, AND THIS COMMENTS ABOUT SCREENING IS JUST A FURTHER INSIGHT TO WHAT WE CAN DO TO CONTINUE TO KEEP THE PROPERTY SAFE.
BUT WHEN YOU CONSIDER, CONSIDER THAT LONG WITH THE IMPROVEMENTS TO LIGHTING THE IMPROVEMENTS TO CAMERAS IMPROVEMENTS OVERALL TO THE AESTHETIC OF THE PROPERTY IN KEEPING WITH THE BROKEN WINDOW THEORY, WHICH IS A THEORY WE SUBSCRIBED TO, WE HAVE A DIRECTOR OF SECURITY TRAIN MARSHALL HERE WHO, UH, WAS WITH THE PASADENA PD FOR 20 YEARS AND WORKED IN GANG TASK FORCES AND IS OUR DIRECTOR OF SECURITY NATIONALLY.
UH, WHEN WE THINK ABOUT CRIME AT OUR COMMUNITIES, WE THINK ABOUT THE BROKEN WINDOW THEORY AND THAT WHEN WE KEEP OUR PROPERTY CLEAN AND IMPROVE, IT THERE'S A MUCH LOWER CHANCE OF CRIME OCCURRING THERE.
AND SO BROKEN WINDOW THEORY REFERS BACK TO A STUDY WHERE THEY TOOK TWO CARS AND STUCK THEM IN SIMILAR NEIGHBORHOODS.
AND ONE THAT WAS BEAT UP, OBVIOUSLY GOT MORE CRIME.
WE WANT TO KEEP OUR PROPERTIES AS NICE AS POSSIBLE TO ALLEVIATE THE CRIME AS MUCH AS POSSIBLE BY GOING THROUGH THESE IMPROVEMENTS, IT'LL BE A MUCH LESS FAVORABLE LOCATION FOR ANY CRIME TO OCCUR.
IN ADDITION TO WHAT WE'VE ALREADY DONE OVER THE LAST THREE YEARS,
[00:30:01]
THERE'S THE CHIEF HAVING A THING TO ADD TO THIS? UM, UM, I APOLOGIZE, UH, THE MEETING THAT WAS HELD ON MONDAY WAS A LAST MINUTE MEETING.THERE WAS NO ADVANCED NOTICE OF THAT MEETING.
SO I WAS IN TRAINING ON MONDAY.
AND I'M, AS I SAID BEFORE, I AM ALL ABOUT IMPROVEMENTS FOR THIS COMPLEX.
ANYTHING THAT WE CAN DO TO MAKE IT BETTER, SAFER I AM FOR I'M TRYING TO BE POLITICALLY CORRECT.
AND I GUESS THE TWO WORDS THAT, THAT FOR ME MOVING FORWARD IS SHOW ME, WE'VE HAD THESE MEETINGS IN THE PAST TWO YEARS AGO, WE WERE MADE THE SAME TYPE PROMISES TWO YEARS AGO.
I HAD CHECKED WHILE WE WERE WAITING SINCE JANUARY 1ST, WE HAVE 507 CALLS FOR SERVICE AT THAT APARTMENT COMPLEX ALONE.
UM, AND THAT'S NOT TAKING OUT.
THAT'S NOT INCLUDING THE EXTRA PATROLS.
THAT'S NOT INCLUDING JUST US GOING AND TRYING TO PREVENT THINGS.
I WILL TELL YOU THE SCREENING PROCESS YOU PROCESS THAT YOU HAVE ARE I TAKE IT BACK? THERE'S A SCREENING PROCESS, MAYBE FINE MANAGEMENT HAS BEEN AN UTTER FAILURE SO FAR LOCAL MANAGEMENT.
UM, Y'ALL YO THE MANAGEMENT THAT WAS HERE WAS PART OF THE PROBLEM THEY WERE RELATED TO OUR PROBLEMS THAT WERE LIVING THERE.
UM, I, I, AGAIN, I, I'M ALL FOR IMPROVEMENT.
WE JUST NEED A LITTLE BIT MORE FROM YOU OF ACTUALLY FOLLOWING THROUGH WITH THESE THINGS.
I'M CONCERNED IN THAT THE REFUGEE PROGRAM WAS STARTED BY THE APARTMENT COMPLEX.
IT WAS GUARANTEED INCOME FOR THE APARTMENT COMPLEX.
THE FOLKS OUT OF EUSTON WERE ALL IN ON IT WITHOUT DOING THEIR RESEARCH ON CLUES AND NOT UNTIL WE KIND OF EDUCATED OF WHAT OUR ISSUES WERE, DID THEY PULL BACK AND THAT'S WHY THAT FELL THROUGH AND COMPLETE HONESTY.
AND NOW WE'RE MOVING TO THE NEXT ONE, WHICH AGAIN, $15 MILLION INTO THAT WILL BE WONDERFUL, BUT WE NEED THOSE PROMISES THAT YOU MADE TO US TWO YEARS AGO.
AND YES, I WOULD LOVE THE FACT THAT IF WE WERE ABLE TO FIND LOCAL PEOPLE TO ACTUALLY EMPLOY AT THE COMPLEX, BUT THEY'VE GOT TO BE QUALITY AND ACTUALLY FOLLOW THROUGH WITH THESE THINGS THAT Y'ALL ARE, ARE THE PICTURE YOU'RE PAINTING.
THE UNFORTUNATE PART IS THAT JUST HASN'T HAPPENED UP TO THEM THIS POINT.
UM, Y'ALL, Y'ALL HAVE, Y'ALL WORKED WITH US, BUT THE PROBLEM IS STILL THERE.
SO I JUST W EYES WIDE OPEN GOING INTO IT IS AGAIN, AS LONG AS, AS LONG AS THEY DO WHAT THEY SAY THEY'RE GOING TO DO.
I THINK, YOU KNOW, IT'S A GOOD THING.
IT'S JUST, WE NEED THAT FOLLOW THROUGH WITH THAT BEING SAID AT THAT PARTICULAR PART OF TOWN AND PROBABLY THE WHOLE AREA, NOT JUST THAT APARTMENT COMPLEX, BUT THAT A WHOLE AREA OF TOWN IS PROBABLY YOUR BIGGEST CONCERN IN THE CITY THAT WAY.
BUT WE'VE GOT A NEIGHBORING COMPLEX THAT WE DON'T HAVE NEAR THE AMOUNT OF CALL LOAN ADS.
SO I KNOW IT, I KNOW IT CAN BE DONE EXACTLY.
SO, I MEAN, IT NEEDS A LOT OF WORK AS WELL.
UH, BUT AGAIN, I I'M ON YOUR SIDE, WE JUST NEED SOME FOLLOW-THROUGH AND, AND IF TREY'S BEEN PROMOTED NATIONALLY THAT CONGRATULATIONS, BUT WE, I HAVEN'T TALKED TO YOU SINCE EXACTLY.
SO, HEY, WE, WE'VE GOT TO HAVE THAT FOLLOW THROUGH IF WE'RE GOING TO, UH, TO DO THAT, BUT I I'M FOR THIS, I'M JUST ASKING YOU ALL TO PLEASE DO WHAT YOU SAY YOU'RE GOING TO DO.
UM, I WOULD SUGGEST THAT THE PD AND THE FALL SECURITY HAD HAD AT LEAST A MONTHLY CONFERENCE, WELL, THAT WOULD BE TREMENDOUS.
[00:35:01]
TO DO THAT.I WILL SHARE WITH YOU THAT WE HAVE CHANGED THE MANAGER OF THE SITE TO ONE OF OUR TOP MANAGERS AND THE FEEDBACK IS HELPFUL.
UM, EVERYTHING THAT YOU SAID ABOUT, UH, THE WAY THIS HAS HAPPENS IS, IS ACCURATE.
AND, UH, IN TERMS OF THE EXPLORATION OF THE REFUGEE PROGRAM, THAT WASN'T UNPRECEDENTED EVENT, AND IT CAME ACROSS OUR PLATE THROUGH THE HOUSTON APARTMENT ASSOCIATION, UH, AND THEY WERE EAGER TO MOVE FORWARD, BUT THE CONVERSATIONS WITH YOU AND WITH EVERYBODY ELSE ABOUT WE'RE A PART OF THEIR DILIGENCE PROCESS, AND THEY HAD NO INTENT TO PROCEED WITHOUT YOU GUYS.
GREEN-LIGHTING IT, THAT'S THE SAME APPROACH WE'RE TAKING HERE.
SO, UM, WE, WE DO LOOK FOR EVERYBODY'S SUPPORT TO DO ANYTHING, GET THE RECORD.
COULD YOU STATE YOUR NAME AND COULD YOU STATE YOUR NAME SO, OR IDENTIFY YOURSELF SO THAT SHE CAN REPORT THEM? I'M DAVID PORITZ ON THE PORTFOLIO MANAGER AT OLIVE TREE HOLDINGS.
WELL, I DON'T WANT TO BEAT YOU UP.
NOT SEEM TO BE THE ONE DOING IT, BUT I RESPECT NOBODY COULD DISAGREE THAT AN INVESTMENT IN THE CITY AS A GREAT THING.
UH, BUT I JUST KNOW LIKE THE INVESTMENT IS COMING YES.
FOR THE CITY, BUT YES, FOR THE INVESTORS, I MEAN, NOBODY'S SITTING UP HERE AND KNOW THAT ONCE YOU GOT TO BE MET SOMEWHERE, UH, AND APPARENTLY WITH FEDERAL MONEY, THERE'S MORE MONEY TO BE MADE THERE THAN THERE IS IN PRIVATE, BUT WE'RE STILL TALKING ABOUT ME AGREEING TO THIS RIGHT HERE TONIGHT.
AFTER THE FACT OF FINDING OUT WE HAVEN'T WORKED ANYTHING OUT IN THE POLICE DEPARTMENT, WE HAVEN'T HAD ANY KIND OF MEETING WITH THE POLICE DEPARTMENT NOT TO BE UGLY, BUT HE PROVED MY CASE ABOUT SERVICES.
COULD WE DIDN'T EVEN GO IN, I DON'T KNOW IF THAT INCLUDES THE EMS OR IF THAT'S JUST POLICE GO, THAT'S IT THAT'S EVERYTHING.
AND BEFORE I JUST SWALLOW MY WHOLE FOOT I'LL STOP.
AND THAT, I JUST DON'T BELIEVE THE $15 MILLION BOAT K ON TOP OF THIS IS GOING TO GENERATE REVENUE FOR THE CITY OF CLAYTON.
THAT'S JUST MY PERSONAL OPINION.
AT THE END OF THE DAY, THE 15TH, IT WILL IMPROVE THE VALUE OF THE COMMUNITY.
WE EXPECT THE COMMUNITY TO, TO GET MORE, UH, TO GET APPRAISED AT A HIGHER VALUE DOWN THE ROAD OF VIETNAM, ITALY, IT WILL NOT GO DOWN.
UM, BUT WHAT IT DOES ALLOW US TO DO IS TO, UH, MAKE IMPROVEMENTS TO THE CONDITIONS OF THE COMMUNITY FOR LOWER EXPENSES ON MAINTENANCE, SO THAT WE CAN CONTINUE TO INVEST MORE ON SECURITY, CONTINUE TO RUN, UH, MORE FREQUENT SECURITY PATROLS, UH, AND DO EVERYTHING WE CAN TO ATTRACT THE BEST POSSIBLE CLIENTELE TO THE BEST POSSIBLE WHAT BEING ASSET, WHICH ULTIMATELY IS WHAT WILL LONG-TERM REDUCE CRIME AT A PROPERTY LIKE THIS, BY THE WAY, I LISTENED TO WHAT YOU'RE SAYING AND RESPECTFULLY, WE'RE BUILDING A REALLY HARD CLASS TODDLER SECURITY SITUATION WHERE INSTEAD OF A SINGLE FAMILY APARTMENT DWELLING COMPLEX, OUR NUMBER ONE THING HAS COME UP OVER AND OVER AGAIN, MY MINUS TAXES, OKAY, WE'LL GET OUT THERE.
BUT SECURITY HAS BEEN THE NUMBER ONE THING THAT WE'RE DISCUSSING HERE, AND WE'RE GOING TO BE AS $15 MILLION.
SO WE CAN RENT HAVE OUR RENT CHEAPER WITH LESS OVERHEAD, BUT WE'RE GOING TO SPEND THAT OVER MONEY ON SECURITY, BECAUSE WE KNOW WHAT WE'RE GOING TO HAVE LIVING HERE.
I DON'T, I HAVE TROUBLE MEETING IN THE MIDDLE OF THAT.
THE COUNCIL MEMBER THAT THE RENTS WILL NOT GO DOWN UNDER THIS PROGRAM, BUT THEY WILL BE GUARANTEED TO BE HELD AT THAT MAX ALLOWABLE, AFFORDABLE RENT LONG-TERM THEY WILL NOT BE LOWER THAN THEY ARE TODAY, BUT THE EXPENSES OF THE PROPERTY ULTIMATELY WILL BE LOWER, UM, ALLOWING US TO CONTINUE TO RUN MORE SECURITY AND INCLUDING ENVIRONMENTAL IMPROVEMENTS TO THE PROPERTY LIKE LIGHTING, WHICH DISSUADE PEOPLE FROM DOING THINGS AT NIGHT THAT THEY SHOULDN'T BE DOING AND CAMERAS, WHICH FURTHER ACT AS A MITIGANT TO THE ENVIRONMENTAL CRIME RISK.
SO, UM, IT, IT ULTIMATELY IS GOING TO BE A LONG-TERM PROJECT.
WE PLAN TO BE IN THIS COMMUNITY FOR A LONG TIME.
THIS PROGRAM WILL FORCE US TO HOLD THE PROPERTY FOR OVER 10 YEARS AND WE'RE PREPARED TO DO SO.
SO WE'RE TRYING TO TAKE THE MEASURES AS PART OF THESE IMPROVEMENTS TO BE ABLE TO SUCCESSFULLY RUN THE PROPERTY LONG-TERM AND, UM, APPRECIATE THE FEEDBACK ON WHAT WE CAN DO, UH, TO CONTINUE TO MITIGATE CRIME, OR WE'RE OPEN TO MONTHLY CONVERSATIONS, OR EVEN MORE FREQUENTLY THAN THAT.
UM, AS WE, AS I MENTIONED EARLIER, WE HAVE TWO COURTESY OFFICERS LIVING ON SITE, UH, AND WE WILL CONTINUE TO EMPLOY AN OFF DUTY POLICE OFFICERS TO DO OUR PART, TO PAY FOR SECURITY IN THE AREA.
BUT, UH, THIS IS A LONG-TERM PROJECT FOR US, AND WE DO LONG-TERM INTENT TO SEE CRIME MEANINGFULLY CLEANED UP AT THE COMMUNITY.
SO IS IT 10 OR IS IT 15 COMMITMENT? I HEARD 15 ONCE.
AND YOU SAY OVER TWO, IT'S GOING TO BE A MINIMUM OF 10.
[00:40:01]
OKAY.AND THEY'VE ALREADY INVESTED IN FIVE.
I THINK HE WAS TALKING ABOUT TERM, OH, THE TERM IS TH SO THE TERM OF THE AFFORDABILITY IS A 15 YEAR INITIAL COMPLIANCE PERIOD, AND THEN AN ADDITIONAL 15 YEAR EXTENDED USE PERIOD.
SO LIKELY 30 YEARS OF CAPPING THE RENT THAT WHAT THE MAX ALLOWABLE ROUNDS PER 60% AMI UNITS ARE, BUT TYPICALLY YOU CANNOT TRANSACT OR SELL THE PROPERTY FOR 10 YEARS.
SO YOU CAN CAP THE RAMP FOR 30 YEARS AT THE FEE.
UH, SO IT'LL BE INITIALLY KEPT FOR 15.
THAT'S THE INITIAL COMPLIANCE PERIOD, WHICH IS THE MOST HEAVILY SCRUTINIZED PERIOD OF WHEN THOSE TAX CREDITS ARE BEING GENERATED.
AND FOR AN ADDITIONAL 15 BEYOND THAT THIS PROGRAM FORTIFIES THE PROPERTY, BASICALLY MAKING IT LIKE NEW SO THAT YOU COULD AFFORD TO RUN A PROPERTY AT AFFORDABLE RENTS, BECAUSE IN ANY OLDER PROPERTIES, CURRENT CONDITION, IF YOU WERE TO CAP THE RENT TO SOME LOWER NUMBER, IT WOULDN'T BE FINANCIALLY FEASIBLE FOR ANYBODY TO OPERATE THEM AT PERMANENTLY KEPT RENTS.
THE EXPENSES WOULD BE TOO HIGH IN RELATION.
SO THIS BOLSTERS THE PROPERTY IN PUERTO US.
IT'S NOT, IT'S NOT CAPPED AT THE CURRENT RATE, IT'S CAPPED AT WHATEVER THE FEDERAL GOVERNMENT ALLOWS AND THEY MAY ADJUST THAT CORRECT.
OR IS IT CAPPED AT THE CURRENT RATE? I THINK THE GOVERNMENT AND ADJUST THAT THROUGH TIME.
SO THIS WOULD BE A 60% AMI PROPERTY.
SO YOU LOOK AT THE, UH, THE AREA MEDIAN INCOME.
THIS WOULD CAP THE RENTS AT 60% OF THAT.
UM, AS THE INCOME LEVEL, 30% OF THAT IS WHAT THE GOVERNMENT DEEMS THE MAX AFFORDABLE RENT FOR A 60% AMI COMMUNITY.
UM, BUT THEY WILL BE ROUGHLY IN LINE WITH WHERE WE ARE NOW.
THE LIMIT IS NOMINALLY ABOVE WHERE WE ARE NOW.
UM, BUT LONGTERM, IT WILL CONTINUE TO HAPPEN.
SO YOU WON'T HAVE THESE RENTS RUNNING UP OVER TIME UNLESS THE FEDERAL GOVERNMENT ALLOWS YOU MORE TRYING TO GET THE LAW, WHICH IS A GIVEN.
SO THE RENTS ARE REVIEWED ANNUALLY.
I MEAN, THAT'D BE LIKE ME TALKING ABOUT THREE RED HOUSE STAND.
I'M NOT GOING TO RAISE THE RENT ON IT FOR NEXT 15 YEARS WHEN WIND STORM LONG, IT'S GOING TO GO UP 40% AND MAKE IT TO ZERO SENSE TO ME.
BUT I SAID, I WAS GOING TO QUIT TALKING TO, I WANT TO SAY SOMETHING THERE.
AND LIKE HE SAID, I'M ALL FOR IMPROVEMENT BECAUSE THIS IS IN MY WARD OVER THERE.
AND, UH, THIS HAS BEEN NEEDING TO BE IMPROVED FOR MANY, MANY YEARS.
MY CONCERN IS IF IT HADN'T ALREADY HAPPENED IS ON THE NORTH SIDE OF THE PROPERTY THAT CROSSES A HACKBERRY.
AND THAT COMPLAINTS I GET IS PEOPLE THAT CAN WALK FROM THE PROPERTY ACROSS PRIVATE PROPERTY TO GET OVER ON TO, UH, THE STREET.
AND THEY MAYBE GO TO A SONIC OR WHEREVER THEY GO.
BUT THAT NEEDS TO BE A GOOD FENCE BACK THERE TO KEEP NOT TO KEEP YOUR PEOPLE IN, BUT TO KEEP PEOPLE FROM GOING INTO PEOPLE'S BACKYARDS.
THAT REALLY DON'T HAVE NO ONLY THING THEY DID IS BOUGHT PROPERTY THAT BACKS UP TO THAT PROPERTY.
AND THEY JUST WOULD LIKE TO SECURE THEIR PROPERTY.
IF IT'S NOT A FENCE ALREADY THERE, I WOULD IN FUTURE, I'D LIKE TO SEE SOMETHING PUT UP W WE CAN COMMIT THE FENCING, UM, AS WELL AS LIGHTING AND CAMERAS AND DO EVERYTHING WE CAN TO REDUCE THAT FOR TRAFFIC, BUT ABSOLUTELY.
AND, UH, ANY ADDITIONAL RECOMMENDATIONS OF ITEMS THAT WE CAN DO HERE TO FURTHER IMPROVE THE COMMUNITY REAR ALL FOR.
SO AS PART OF THIS PROGRAM, UM, THERE'S A REQUIREMENT FOR A CERTAIN AMOUNT OF COMMUNITY PROGRAMS, UM, PROGRAMS SUCH AS RESUME BUILDING OR VARIOUS OTHER PROGRAMS THAT WOULD BENEFIT LOW-INCOME PEOPLE THAT WOULD LIVE AT THE PROPERTY, AND WE'RE GOING TO OFFER THOSE PROGRAMS AT THE COMMUNITY.
SO GENERALLY ANYTHING THAT WE CAN DO HERE THAT WILL IMPROVE THE PLACE FOR THE BLUE COMMUNITY, WHERE CERTAINLY FENCING'S WITHIN THAT.
THE NIGHT I WAS SWORN IN IT WAS DIFFERENT, DIFFERENT COMPANY, THAT SAME PROPERTY.
ALL OF THAT BEING SAID, I'LL MAKE A MOTION THAT WE APPROVED THIS THE WAY IT'S WRITTEN.
I HAVE A, I HAVE A MOTION FROM CAPITOL QUINN THAT WE AUTHORIZE THE CITY
[00:45:01]
TO CITY REPRESENTATIVE TO SIGN OFF ON THE, UH, RESOLUTION 131 DASH 2022.DO I HAVE A SECOND THINKING ABOUT CALIFORNIA AGUILAR, FURTHER DISCUSSION? NONE.
I'LL ENTERTAIN A VOTE ALL IN FAVOR.
AFTER THE AD WOULD BE CONSIDERATION OF POSSIBLE ACTION TO ADOPT RESOLUTION NUMBER 33 DASH 2022, YOU SEE A PLUTE RESOLUTION NUMBER 33 DASH 2022 APPOINTING MEMBERS OF THE PLANNING AND ZONING COMMISSION.
WHEREAS PLOOP BRAZORIA COUNTY, TEXAS PROVIDES FOR THE CREATION OF A PLAN IN THE ZONING COMMISSION, WHICH SHALL CONSIST OF NOT LESS THAN SEVEN, NO MORE THAN NINE CITIZENS, INCLUDING EACH OF WHOM SHALL BE APPOINTED FOR A TERM OF THREE YEARS EACH AND PROVIDED THAT VACANCIES HAVE AN UNEXPIRED TERM SHALL BE FILLED BY THE CITY COUNCIL FOR THE REMAINDER OF THE UNEXPIRED TERM.
WHEREAS PURSUANT TO THE PROVISION OF SECTION ONE OF THE ZONING ENABLING ACT OF THE STATE OF TEXAS, CODIFIED AS ARTICLE 1, 0 1, 1 8 REVISABLE STATUTES OF TEXAS 1925, THE CITY COUNCIL OF SAID, CITY ADOPTED, OR THIS NUMBER OF 75 DASH 41 ON THE 31ST DAY OF NOVEMBER, 1975, PROVIDING THAT THE PLANNING AND ZONING COMMISSIONER SAID CITY APPOINTED PURSUANT TO THE PROVISION OF SAID SECTION 14.03 OF THE HOME RULE CHARTER SHALL BE THE ZONING COMMISSION OF SAID CITY.
NOW BEING CODIFIED AS SECTION TWO DASH 1 0 1 OF THE CODE OF THE HEART.
IT'S THE CITY OF FLINT, TEXAS.
AND WHEREAS POSITION ONE IS OPENED AND THE CITY COUNCIL SAID CDS NOW DESIRES TO FILL THE POSITION.
NOW, THEREFORE BE RESOLVED BY THE CITY COUNCIL OF THE CITY OF BLOOPERS WRIGHT COUNTY, TEXAS.
FIRST THAT DAVID
THE SECOND THAT THIS RESOLUTION AFTER EXECUTION AND THAT TESTATION SHALL BE MAINTAINED IN THE PERMANENT RECORDS OF THE CITY PLUTON TESTIS RED PATH AND APPROVED THIS 21ST, 25TH DAY OF AUGUST, 2022, EIGHT DAY.
IT WOULD BE SIGNED BY THEMSELVES THAT 40 MINUTES, THE CORRECT WAY
I WOULD CONSIDER A MOTION TO APPROVE RESOLUTION NUMBER 33 DAYS, 2022, MOVE BACK OUT PARK.
MOM DON'T HAVE THE SLACKER BLACKOUTS PART OF THE DISCUSSION QUESTION, COMMENTS, APPRECIATE THE JOB HE'S DONE.
I WOULD VOTE, CONTINUE TO CHART.
NEXT ITEM WOULD BE OUT OF THE DISCUSSION HOPE FISCAL YEAR 2022, WE HAVE 2043 BUCKETS.
NOT AS MANY AS I WANT TO HOPE FOR.
I, UH, WHEN WE MET LAST YEAR, WENT THROUGH THE BUDGET, WE TALKED ABOUT A REMOTE HEAVY TRASH DUMPSITE.
WE TALKED ABOUT A BUDGET ASSOCIATED WITH THAT.
I THOUGHT I'D FOUND A WAY TO ROUND THE CORNERS ON THE SQUARE AND, UH, AND MAKE IT, BRING IT IN, IN A LITTLE BIT CHEAPER.
BUT, UH, MY DREAMS WERE DASHED YESTERDAY.
AND SO WE HAVE WITHDRAWN THAT APPLICATION AND WE'LL, WE'LL SAVE THAT FIGHT FOR ANOTHER DAY.
UH, THAT SAID, MISS MS. KNOX, WHEN SHE WAS GOING THROUGH THE BUDGET FOUND THAT I HAD ADMITTED A CERTAIN CERTIFICATE PAID FROM THE POLICE DEPARTMENT BETWEEN THE CERTIFICATE PAY THEMSELVES AND THE BENEFITS THAT TOTALS ABOUT $30,000, WHICH CHANGE, WHICH IS THE CHANGE TO THE BOTTOM LINE.
EVERYTHING ELSE IS THE SAME AS WE'VE REVIEWED THROUGHOUT THE MONTH OF JULY AND INCLUDING THE, UH, AS WE CALL IT THE MORTGAGE PAYDOWN.
AND, UH, I DID FINALLY MAKE CONTACT WITH OUR PARTNERS AT SIN CORP TO, UH, MEET WE'RE GOING TO MEET ON THE EIGHTH TO DISCUSS RETIRING
[00:50:01]
THAT NOTE ONCE AND FOR ALL, ANY QUESTIONS.SO WE CHANGED THE BUDGET FOR THE POLICE DEPARTMENT.
YOU SAID 20 OR 30, ABOUT $30,000.
OH, WELL THAT WAS THE ACTUAL SALARY IMPACT.
I FORGOT ABOUT THE CHANGE TO THE FRINGE BENEFITS THAT COME WITH THAT BECAUSE IT'S COUNTED AS HOURS.
THAT INCLUDES THE FICA, THE CMRS, EVERYTHING.
DO YOU ADD ALL THE OTHER STUFF? DO IT.
THAT'S WHERE IT ALL ADDS UP QUICK, VERY QUICKLY.
AND WE'RE AT THAT STAGE IN THE PROCESS WHERE IT ALL JUST IS KIND OF, OH, WELL, YES.
THE OTHER QUESTION
EVERYTHING WE'LL MAKE ANYTHING AFTER YOU JUST WON'T SEE THEM AGAIN.
I'VE TOLD THEM THE STREETS, WASTEWATER TREATMENT FACILITY, CITY HALL, NOTHING'S OFF LIMITS.
IF EVERYBODY ELSE KNOWS THAT'S A $3 TICKET WE CAN BUY.
CAN WE PUBLICLY GAMBLE? WELL, NOT OFFICIALLY, NOT OFFICIALLY, BUT IF WE WAIT AND WAIT.
AS AN INVESTOR, THE ABC, I DON'T THINK THAT ANY OTHER DISCUSSION ON THE, ON THE BUDGET.
QUICK QUESTION ABOUT THE MOSQUITO FESTIVAL.
HAS IT ALL, IT'S ALWAYS RUN AT A DEFICIT.
IT'S IT'S ALWAYS RUN BASICALLY AT A DEFICIT.
BECAUSE I KIND OF SEE IT AS, LIKE WE TALKED ABOUT THE CITY POOL AND STUFF.
LIKE IT'S NOT THERE AS A MONEYMAKER, RIGHT.
AND I WILL SAY CREDIT THE, WELL, THIS YEAR WE TOOK OUT THE EXTREME HEAT, UH, INSURANCE, UM, AND UH, WE HIT THE NUMBER.
SO WE ACTUALLY WERE, WE RECEIVED A CHECK OF CHRIS WAS AT 110, $110,000 TO OFFSET SOME OF THOSE COSTS.
NOW I GOT A FEELING WE WON'T BE ALLOWED TO BE WRITTEN AT THE SAME LEVEL NEXT TIME, JUST BECAUSE THEY DON'T LIKE LOSING, BUT YES, WELL, YEAH, THAT GAMBLE PAID OFF FOR US ISSUE FOR THE RECORD.
THE, UH, THE INSURANCE COVERAGE WAS 105.3 DEGREES AND WE HAD 108.7 EVERY SINGLE DAY.
I BET YOU RECONSIDER THAT IN THE LAST WEEK.
IT'D BE TO EXTERIOR TO GET RID OF THE SAME WAY WOULD PROBABLY BE 130 DEGREE.
[V. NOTICE/ANNOUNCEMENT OF UPCOMING EVENTS AND MEETINGS]
NEXT ITEM WOULD BE NOTICING AND OUTPUTS OF UPCOMING EVENTS AND MEETINGS.WE WILL HAVE A PUBLIC HEARING.
YOU KNOW, THE TAX RATE THURSDAY, SEPTEMBER THE FIRST, WHICH IS RICA ZOOM, SIX 30 CITY OFFICES, WHERE WE CLOSED THE LABOR DAY, MONDAY, SEPTEMBER THE 25TH, SEPTEMBER 5TH TO MANY TUNES THAT ARE AFTER SEPTEMBER 5TH TO 2022, A PUBLIC AREA AND POSE FISCAL YEAR 2020 TO 2023 BUDGET WILL BE THURSDAY, SEPTEMBER THE EIGHTH, 2022 AT 6:30 PM.
SPECIAL MEETINGS TO ADOPT THE FISCAL YEAR 2020 TO 2023 BUDGET ORDINANCE WILL BE THURSDAY, SEPTEMBER THE EIGHTH, IMMEDIATELY FOLLOWING THAT.
AND THEN THERE WILL ALSO BE A SPECIAL MEETING IMMEDIATELY FOLLOWING THAT TO ARE AT SEVEN O'CLOCK ON THURSDAY, SEPTEMBER THE EIGHTH TO ADOPT THE TAC ORDINANCE.
AND THEN THERE WILL BE A REGULAR MEETING OF SEPTEMBER THE 22ND, 2022, AT WHICH TIME TO PLACE MR. SNIPES AND HIS CREW WILL BEGIN NEXT YEAR'S BUDGET PROCESS.
NEXT ITEM IS A GERMAN, SOME LITTLE BUCK OUT FROM THE GRILL.
WE'LL HAVE A SECOND TO BACK OUT THE PARK,
[00:55:01]
NO DISCUSSION ALL THE TIME AS WELL.FAIR LAND LOSS, PARALLELING LOSS.
BUT HE SAID, NOW YOU GO TO FULL FOR TENNESSEE.