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ROSIE AND CHAIRMAN.[Economic Development Corp Meeting]
GOOD EVENING.WE'LL CALL THE MEETING TO ORDER AT SIX 30.
BEGIN WITH THE PLEDGE OF ALLEGIANCE.
I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE WHICH STANDS, NATION UNDER INDIVISIBLE WITH LIBERTY JUSTICE.
WE'LL MOVE NEXT TO OUR ROLL CALL OF MEMBERS, GUARDIAN SHIFFLET.
ARE THERE ANY, ANY COMMENTS APPEAR TO BE PUBLIC? WHAT'S THAT? THAT'S RIGHT.
SO WE'LL MOVE TO OUR NEXT ITEM, OUR, UH, MINUTES FROM THE MARCH 23RD, 2023 MEETING, A MOVED MOTION BY, UH, MAYOR, SECONDED BY DR.
ANY DISCUSSION? ALL IN FAVOR? AYE.
NEXT WE WILL MOVE TO ITEM FOUR, ACTION ITEMS. ITEM A, DISCUSS THE PRELIMINARY PROPOSED BUDGET FOR FISCAL YEAR OF 2023, 2024.
UH, LET'S START ON THE REVENUE SIDE.
THE CITY THIS YEAR IS EXPECTING, LET'S TALK ABOUT CURRENT YEAR AND WHAT'S HAPPENED AND THE FUTURE YEAR.
WE'RE GETTING MODEST INCREASE SALES TAX.
THAT'S BASED ON INDICATORS, INFORMATION FROM THE STATE, UH, ALSO THE FED.
UH, TODAY I THINK WE'RE 3% INFLATION, SO WE THINK THERE'S A LITTLE BIT OF WIDER THERE.
WE ANTICIPATE ABOUT 2 MILLION IN TAX REVENUE, SALES REVENUE YEAR, UH, US.
YOUR ATTENTION HAD MUCH, UH, EVERYBODY SUFFERED.
WE HAVE SIGNIFICANT AMOUNT OF INTEREST CHANGE VALUE FOR OUR PORTFOLIO INTEREST THIS YEAR.
WE DUNNO HOW LONG THAT, BUT WOULD LIKE TO SEE THAT NUMBER TO SAY.
WE'RE INVESTED IN, UH, COLLATERALIZED INDEX, SO WE'RE TEXT CLASS.
UH, WE WILL MOVE THE SIDE
AND THIS IS THE BROAD SCOREBOARD AND I APOLOGIZE IF I MOVE.
BUT WE BEGAN THIS YEAR OR FISCAL YEAR WITH ABOUT THREE 7 MILLION IN THE BANK.
WE ANTICIPATE THAT FUND BALANCE DROPPING DOWN, MEETING THAT WE HOLDING OFF, WE ON SOME OTHER SIDE PROJECTS IN THAT RELATIONSHIP.
SO, UH, IT LOOKS LIKE WE'RE SAVING A BUNCH OF MONEY NEXT YEAR.
WE'RE SAVING BUNCH OF MONEY, BUT WE'RE BUNCH OF MONEY EFFORTS ECONOMY.
SO, UH, ANTICIPATE, UH, CURRENTLY DOWN FROM UHI, UH, BENEFITS.
THE LITTLE BENEFIT THERE IS TRAINING.
UH, I RECEIVED, WE ALL HAVE TO PARTICIPATE IN SALES TAX TRAINING THIS YEAR.
SO WE'LL PLAN, UM, IN OCTOBER.
SO WE ALL, MEANING WE ALL, WE ALL.
SO OCTOBER 70 HILTON OR THE HYATT, WHATEVER, IT'S CLOSE.
AND I ALWAYS WANNA SAY LOW HILL.
UH, THEY'RE ON THE SOUTHEAST SIDE HOUSTON.
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BASE DATES.YEAH, THAT'S WHAT I WAS GONNA SAY.
IF YOU COULD SEND THOSE UP WHENEVER YOU GET THOSE C DO THAT'D BE HELPFUL FOR PLANNING COUNSEL.
YEAH, TRAINING, SCHEDULE, PLAN.
GOTTA GET THERE AFTER DAYLIGHT AND LEAVE BEFORE DARK, RIGHT? I DON'T WANT TO BE THERE IN THE DARK.
UH, WE AVERAGED, UH, ABOUT THOUSAND THIS YEAR.
SO THAT'S SPECIAL PROBABLY WHERE THE FIRST ITEM COMES.
UH, THAT IS OUR EBC RENOVATION.
UH, WE LUMP SOME WHEN WE, WHEN THIS BUDGET WAS INTEGRATED ON THIS PLATFORM, LUMP SOME REASON.
THAT'S WHAT THE GREEN STARS MEAN.
THAT MEANS THAT I INSERTED SUBLINE ITEMS TO ITEMS THAT A LITTLE BIT, UH, THIS PAST THAT INCLUDED FOR PROJECT THAT REALLY HASN'T COME TO C YEARS OF BUDGETING.
SO KINDA LET ONE TAIL OFF MAX FOR INCENTIVES THAT WE IN TALKED STRATEGIC PLANNING WE'RE IN A REALLY BAD WAY, UH, IN AND SPLIT THAT COST BETWEEN TWO AGO.
WE HAD EIGHT, ABOUT EIGHT 70,000 A THE YEAR BEFORE THE PANDEMIC.
THERE'S MORE AND OTHER MARKETS FOR OTHER JURISDICTIONS, WHICH IS GREAT.
SO WE THOSE COSTS TO BE WITH THE, TO, UH, TO THE, AND AND SO, UH, THAT'S WHAT THIS COST.
LOOKING A LITTLE BIT FURTHER DOWN, UH, THE THREE 80 PAYMENT AS YOU SEE THE IS PAID OUT, UH, UNDER THIS PROJECTION, UH, FOR THIS YEAR, THE CURRENT FISCAL YEAR.
SO REBATE PAYMENT MADE AGREEMENT WILL BE TERMINATED AND EXPIRED END OF THIS FISCAL YEAR.
YOU HAVE THE TWO REBATE AGREEMENTS, THE ONE WE DID WITH S UH, WHICH IS NOT GENERATED A SIGNIFICANT AMOUNT YET.
UM, BUT THEY ARE BRINGING IN SEVERAL NEW SALES TAX GENERATORS.
THEY FINALLY FILED THE LAST PERMIT FOR KFC AND THEY START ON THE OF THIS MONTH.
SO NINE MONTHS FROM NOW, WE'RE BETWEEN THAT, UH, S IS PROJECTING STRONGER SALES THIS YEAR THAN THEY HAD LAST YEAR.
UM, SO WE'RE HOPEFUL THAT WE'RE GONNA SEE A SIGNIFICANT RETURN THERE.
LIKEWISE IS THE LAST PROPERTY ACROSS THE STREET WHERE THE RICE SEARCH SHOP BETTER WAYS.
UH, AND THEY'VE DONE SUCH A GOOD JOB ADDRESSING THE CORNER THERE WHERE AND ALL THAT IS, THEY'RE NOW INTERESTED, UH, WHICH IS, UH, I THINK SPEAKS TO THAT WHOLE.
SO WE'RE EXCITED ABOUT THAT OUTSIDE THAT WE'RE HOPING TO DO CREATING.
WE JUST HAVEN'T FOUND THE WAY TO STRUCTURE THE OTHER, MAKES ANY SENSE FOR EITHER OF THE DAY.
SPECIAL PROJECTS, EXPENDITURE LAST YEAR.
WE, THIS YEAR WE'VE JUST A LITTLE BIT, UH, BUT THAT INCLUDES THE SIGNAGE OR PLACEMAKER MARKERS, UH, THAT WE'RE DISCUSSING.
AND THEN ALSO, UH, WE, UH, THINK WE'RE DONE WITH THE STATION, BUT SAY THAT SOMETHING ELSE POPS UP.
UH, SO WE'VE A LITTLE BIT OF, AND THAT LAST YEAR, UH, WE HAD ABOUT THE SAME SPLIT LITTLE RESOLUTION
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AND PROJECTS.UH, PROPERTY IS WHAT WE WANNA EXECUTIVE, UM, THE, UH, THE PLACEHOLDER FOR PROPERTY.
AND THEN BEFORE YEAR ON THE THOUSAND FIVE, UH, PAYMENT, WHICH IS GONNA BE HUGE FOR US AND THE CITY AWAY.
SO 20 CYCLE, BE OUTTA THAT BED AND MOVING ON OTHER PROJECT.
THAT CITY ACTUALLY, I'M NOT MISTAKEN, FACILITY, UH, THIS FACILITY AND THE RENOVATIONS, THE POLICE STATION AND MAYBE THE PRELIMINARY FIRE STATION.
ANY QUESTIONS? AND AGAIN, THIS IS A WORK IN PROGRESS UNTIL COUNCIL VOTES IN SEPTEMBER.
SO YOU GUYS WILL HAVE ANOTHER THIS BETWEEN NOW AND THEN.
QUESTION? DO I HAVE A SECOND? SECOND, SECOND.
ROSIE, ARE YOU, ARE YOU READY? GOOD.
DO DO I HAVE THE MOTION TO, UH, RETURN BACK TO OPEN SESSION? SO MOVED.
UH, ACTION TAKEN AS A RESULT OF THE CLOSED EXECUTIVE SESSION.