* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:01] WHEN YOU'RE READY. ALL RIGHT. [I. COMMENCEMENT] WE'RE GONNA CALL THIS MEETING OF THE EDC TO ORDER AT 12 O'CLOCK. YOU PLEASE. FOR THE OF ALLEGIANCE, I PLEDGE ALLEGIANCE TO SUPPLY OF THE UNITED STATES OF AMERICA, AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION UNDER GOD, INDIVIDUAL WITH LIBERTY, JUSTICE FOR. THANK YOU. IS THERE EXTRA COPY OF THE STUFF UP THERE? I'M SORRY. THERE. EXTRA COPY OF THE AGENDA UP THERE? YES. THANK YOU. ALRIGHT, NEXT WE'LL DO, UH, THE ROLL CALL OF MEMBERS, STARTING WITH MAYOR SHIFFLET. CALVIN SHIFFLETT. PRESENT. JEFF'S FOUR. PRESENT. PRESENT. ? YES. CHRIS, YOU DON'T, YOU DON'T COUNT. KENNY VERNON. PRESENT. SCOTT BERRY. PRESENT. VINCE OISE. PRESENT. FRANCIS. UPON PRESENT. THANK YOU. ALL [II. CONSENT AGENDA] RIGHT, NEXT WE'LL MOVE TO THE CONSENT AGENDA. ITEM A, UH, MINUTES FROM THE MEETING. MAY 2ND, 2024. SO MOVED. MOTION BY MAYOR SECOND, SPLIT SECOND FIVE. VINCENT OISE APPROVAL. UH, ANY DISCUSSION? ALL IN FAVOR? AYE. AYE. MOTION PASSES. THANK YOU. ALRIGHT, [III. BUSINESS ITEMS] NEXT. BUSINESS ITEMS ITEM A CONSIDERATION OF POSSIBLE ACTION TO APPROVE AN APPLICATION SUBMITTED FOR THE USE OF THE ED SPECIAL GRANTS ASSISTANCE PROGRAM FUNDS FOR A PAID GRANT APPLICATION LOCATED AT THREE 12 WEST PLANTATION. WHICH FASTENERS? UH, I'LL NOW RECUSE MYSELF FROM THE DISCUSSION ON THIS ITEM. IT SHOULD BE IN YOUR PACKET. IS THERE ANYONE HERE TO SPEAK? MATT? JEFF DAH. I'M THE GENERAL MANAGER AT BRA FAST. UM, FINALLY GOT FORUM. I'M JEFF DAH. I'M WITH BRA FAST GENERAL MANAGER. I'VE BEEN IN THIS COMMUNITY. I'VE RUN BRAS, FASTENERS FOR THE LAST 15 YEARS. UM, AND DURING THAT TIME, I THINK KIND OF OUR DIRECTION WORKING WITH ANTHONY HAS BEEN TO TRY AND ENHANCE BRAS, FASTENERS, BOTH IN THE FRONT OF THE, HOW THE BUSINESS LOOKS FROM THE STREET, UH, HOW WE INTERACT WITH THE COMMUNITY, INCLUDE CITY. UM, AND I THINK WE'VE DONE A REAL GOOD JOB ABOUT THAT. UM, WE HEARD ABOUT THIS GRANT ASSISTANCE. WE WERE ALREADY IN THE PROCESS OF DOING SOME CONSTRUCTION THERE. AND, UM, I THINK IF YOU GO BY THERE NOW, YOU'LL SEE THE PRACTICE PASSENGER SPACE LOOKS A LOT BETTER THAN IT DID FIVE YEARS AGO. UM, WE NOW PRETTY MUCH HAVE THAT WHOLE BLOCK FROM ACHE TO WEST STREET, THE WHOLE FRONT. UM, OBVIOUSLY OUR VISION WAS TO TRY AND MAKE SURE THAT WE MAKE THE STOREFRONT AS NICE AS POSSIBLE, ENHANCING TO OUR CUSTOMERS WHEN THEY DRIVE IN. WE ARE KIND OF IN THE FINAL PHASES OF THAT. OBVIOUSLY. WE BUILT A NEW OFFICE BUILDING IN 2006. OH, ACTUALLY IT WAS A LITTLE LATER THAN THAT, PROBABLY 18, 17. IT'S BEEN FIVE OR SIX YEARS. UM, WE BUILT THAT BUILDING AFTER WE BOUGHT THAT LAND ADDED BACK WAREHOUSE. THE, BASICALLY THE WAREHOUSE THAT WE WERE BASICALLY LEASING FROM DR. GRADY. WE BOUGHT THAT AND REDID THAT THIS YEAR. UM, BUT WE'RE TRYING TO DO THE WHOLE FRONT OF IT. OBVIOUSLY THE FACADE NOW IS BRICK MATCHES ALL THE WAY ACROSS THE WHOLE FROM BLOCKED STREET TO STREET. UM, WE ARE TRYING TO MAKE SURE THAT ALL THE BUILDINGS NOW MATCH. SO EVERY BUILDING WE'VE HAD, WHETHER WE'VE REDONE IT OR WHATEVER YOU CAN SEE RIGHT UP THERE, WE ARE GONNA MATCH THE NEW BUILDING. SO ALL THE PAINT WILL MATCH, ALL THE GUTTERS WILL MATCH ALL THE DRAINAGE WE'VE WORKED ON TO TRY AND MAKE SURE THAT WE DON'T FLOOD ANYBODY. UM, WE OWN THE LAND BEHIND US. UM, WE'VE ADDED SEVERAL TRUCKLOADS OF DIRT TO TRY AND MAKE SURE THAT OUR PROPERTY, EVERYTHING DRAINS SO THAT OUR NEIGHBORS AROUND US ARE, WE'RE NOT FLOODING THEM. WE ARE, WE'RE, THAT'S ONE OF OUR MAJOR CONCERNS IS TO MAKE SURE THAT WE TAKE CARE OF THE NEIGHBORS AROUND US. UM, OBVIOUSLY THROUGH THIS, UH, BARREL, WE KIND OF PREEMPTED IT AND WENT IN TRIMMED SOME TREES, GOT EVERYTHING AROUND US ON THE PRIVATE LOTS SO THAT IF SOMETHING WERE TO HAPPEN, OBVIOUSLY OUT OUR CONTROL WOULDN'T BE DAMAGING TO THE PEOPLE THAT WE LIVE AROUND. AND I THINK WE DID A, WE, WE DIDN'T REALLY HAVE, WE HAD ONE TREE BRANCH THAT CAME DOWN AND TOOK OUT ONE PIECE OF FENCE ABOUT THIS FAR. OTHER THAN THAT, EVERYTHING WAS GOOD. SO I'M HERE TODAY [00:05:01] JUST TO ASK YOU TO TAKE A LOOK AND APPROVE OUR REQUEST FOR ASSISTANCE TO FINISH OUR, BASICALLY OUR FACELIFT ON BRALEY FASTENERS. I'M GLAD TO ANSWER ANY QUESTIONS I CAN. MOST OF THE STUFF THAT'S IN THERE AS FAR AS THE BIDS THAT WE HAVE, WHAT WE'RE GONNA DO, OBVIOUSLY, AS YOU SEE RIGHT THERE, THE BRA FASTENER SIGN THAT'S CURRENTLY THERE HAS BEEN THERE SINCE THE BEGINNING. IT'S GETTING OLD AND STARTING TO, IT'S STARTING TO GET REALLY BAD. SO WE ARE GONNA GO BACK WITH A BRAND NEW SIGN THERE. UM, IT'S, THOSE I BELIEVE ARE 22 INCH LETTERS. WE'RE GONNA GO TO 30. IT'S GONNA BE AN LED LIGHT. SO IT'LL LOOK GREAT WITH A DIFFERENT FONT, OBVIOUSLY. AND THEN OBVIOUSLY WE'VE ALREADY DONE THE, THE FACADE IN THE FRONT WITH THE BRICK. BUT OBVIOUSLY TO PAINT THE BUILDING, PUT THE GUTTERS ON TO MATCH THE REST OF THE BUILDING ON THE CAMPUS THAT WE HAVE. THAT'S, THAT'S BASICALLY ALL WE HAVE LEFT. WE, WE APPRECIATE Y'ALL'S, YOU KNOW, THE RESPONSIBLE BUSINESS, UH, FOLKS LIKE YOU, THEY'VE BEEN AROUND FOREVER. YOU KNOW, A LOT OF TIMES THE EDC GRANTS, PEOPLE GET THE IDEA THAT IT'S JUST FOR NEW BUSINESS OR WHATEVER, BUT, UH, I THINK IT'S REALLY IMPORTANT THAT THE BUSINESSES THAT'VE BEEN AROUND A LONG TIME LIKE Y'ALL HAVE BEEN, YOU KNOW, THAT THE CITY SHOW THAT THEY APPRECIATE YOU TOO. AND WE, WE APPRECIATE THE WAY Y'ALL RUN THINGS AND, AND HOW Y'ALL BEEN IN THE COMMUNITY FOR SUCH A LONG TIME. UM, AND SO, UM, IS, IS THE, UH, PAINTING, UM, IT'S GONNA BE ALL OF ALL OF THE, ALL OF THE STRUCTURES OR IS IT JUST GONNA BE A SO NO, SO ALL OF THE STRUCTURES, BASICALLY THE NEW BUILDING THAT WE BUILT, THE NEW OFFICE BUILDING THAT'S ALREADY PAINTED. OKAY. WE'VE ALREADY DONE THE, WHAT WE WOULD CALL THE NUT HU, BUT THE ONE, THE, THE WAREHOUSE THAT FACES AIKEN, WE'VE ALREADY REDONE. AND THAT'S DONE. WE JUST DID THAT THIS YEAR. WISH WE COULD'VE ADDED THAT TO THIS, BUT WE COULDN'T. AND THAT'S FINE. RIGHT. AND OBVIOUSLY WE HAD ALREADY STARTED THE FACADE BEFORE WE EVEN FOUND OUT ABOUT THIS. SO INSTEAD OF HALTING IT, WE ALREADY HAD IT AND THE PLANS WERE, WE'RE FINE, YOU KNOW, WE CAN DO IT. BUT IF WE CAN GET A LITTLE ASSISTANCE ON WHAT WE HAVE LEFT, THAT'D BE GREAT. THAT JUST HELPS US TO PUT EITHER MORE INTO BUILDING MORE STRUCTURE, YOU KNOW, AND ENHANCING THE BUSINESS, OBVIOUSLY. UM, AND THAT'S KIND OF WHAT WE'RE ALL ABOUT. JUST, YOU KNOW, TRYING TO TAKE STEPS TO GROW BRA AS FAST AS BUSINESS, OBVIOUSLY OUR TAX BASE. RIGHT. AND JUST TO BE A GOOD PARTNER WITH THE, YOU KNOW, WITH THE CITY AND THE COMMUNITY. WELL, WE HAVE THIS, UH, AN AGENDA AS A COUPLE OF DIFFERENT GRANTS. SO I GUESS THIS FIRST ONE WE'RE JUST TALKING ABOUT IS THE, UH, PAINTING. I GUESS, DOES ANYBODY ON THE BOARD HAVE ANY QUESTIONS OR ANYTHING ABOUT THE REQUEST? WHO'S THE SIGNATURE ON THIS? JEFF? UH, ANTHONY ALEXANDER. AND ANTHONY IS THE OWNER. THE OWNER? YEAH. OKAY. SO THE, THIS IS FOR PAINTING, SO IT'S BASICALLY FOR PAINTING. OBVIOUSLY WE'RE GONNA REDO THE GUTTERS, OBVIOUSLY FOR DRAINAGE PURPOSES AROUND THE BUILDING. UM, SO REALLY THAT'S ALL WE HAVE LEFT. YEAH. I TAKE IT CJ ALREADY REVIEWED ALL THIS? YES, SIR. RIGHT? YES SIR. THAT'S ALL ACCEPTABLE. AND I, IN MY PACKET, I DON'T HAVE THAT PAPER. YOU DO, YOU DO UNDERSTAND THAT THE BATCH IS ONLY UP TO 50% TO THE BATCH. YEAH, ABSOLUTELY. OKAY. AND WE WOULD APPRECIATE THAT. WELL, I MOVE, WE ACCEPT AND GRANT THE PAINTING GRANT APPLICATION TO FASTENERS. SECOND, SECOND. SECOND. THANK YOU, MA'AM. ALL RIGHT. WE HAVE A MOTION A SECOND. EVERYBODY IN FAVOR? AYE. AYE. AYE. ALRIGHT, APPROVE. UH, UNANIMOUSLY. THANK YOU. ALLALL ACT STEP BACK. I BEING REFUSED NOW BECAUSE WE'VE GOT THE SECOND ONE TO DO. THE SECOND ONE. I'M NOT FAULT YET. OH, OKAY. OKAY. ALRIGHT. GOOD. ONLY THE FIRST, ONLY THE PAINTING ONE. COOL. AND YOU HAVE START EXPLAIN THE SIGNAGE ASPECT OF IT. AND IT'S, IT'S ON THE SAME ABILITY THAT WE WERE LOOKING AT FOR THE PAINTING. DO I HAVE A MOTION TO APPROVE? SO, MOVED BY MAYOR SHIPLER, SECONDED BY JUDGE FORD. IS THERE ANY FURTHER DISCUSSION ON THIS ITEM? I DO HAVE A QUESTION. WHAT IS, WHAT IS OUR ORDINANCE ON THE SIZE OF THE, THE LETTER? HE SAID 30 INCHES. THAT'S REALLY BIG. THAT'S, THAT'S JUST WHAT WE GOT QUOTED. OBVIOUSLY WHATEVER. WE, WE CAN GO BACK. WE HAVE NOT ORDERED ANYTHING. WE HAVEN'T FINALIZED ANYTHING. WE JUST BASICALLY WANTED TO GIVE YOU AN, AN IDEA OF WHAT THE SIGN'S GONNA LOOK LIKE AND SURE. IF THERE'S A, IF YOU HAVE THAT RESTRICTION OR WHATEVER THAT SIZE NEEDS TO BE. I THINK WE WERE, WHEN THE SIGN COMPANY DID THIS, IT JUST KIND OF SAID, HEY, THIS, THIS, THIS LOOKS LIKE IT WORKS BASED ON THE, UH, SPACE THAT YOU PROVIDED. BECAUSE IT'S A, YOU KNOW, WHEN YOU LOOK AT IT NOW, IT'S A LOT BIGGER FRONT. THERE ARE GUIDELINES. THERE ARE GUIDELINES THAT WILL HAVE TO BE FOLLOWED IN. IF YOU GUYS GIVE US THOSE GUIDELINES YEAH, THE BUILDING PERMIT, TELL ME WHERE TO FIND IT. I'D BE GLAD YOU WON'T BE ABLE TO GET, WON'T BE ABLE TO GET A PERMIT UNLESS YOU MEET THE GUIDELINES. PERFECT. , YOU GIMME THOSE GUIDELINES. WE'LL DEFINITELY MEET THOSE. I THINK IT'S A GREAT IDEA. I THINK IT'LL LOOK GREAT. FURTHER [00:10:01] DISCUSSION. ALL IN FAVOR? MOTION PASSES. MOTION. I DID OBJECT FOR SECOND. THANK YOU. AND IF YOU'LL JUST PROVIDE ME WITH THOSE RESTRICTIONS, THAT'D BE GREAT. YEAH. YEAH. AND YOU CAN JUST, I'LL, I'LL TALK TO IT PROBABLY. PERFECT. PROBABLY LINE, BUT YEAH. YEAH. PROBABLY ABOUT. YEAH. AND LIKE I SAID, LOOK AT THE SIGN ORDINANCE. ENSURE ALL, EVERYTHING YOU NEED SHOULD BE IN PERFECT. IN THAT. THANK YOU ALL VERY MUCH. WE APPRECIATE IT. THANK YOU. IF THERE'S EVER ANYTHING WE CAN DO FOR YOU, LET US KNOW. THANK YOU. THANK VERY MUCH. WE NEED SOME BOLTS TO HOLD THE ROOF DOWN. DEAL. I THINK I KNOW THIS. YOU GUYS NEED ANYTHING ELSE FROM ME? NO, SIR. NO, I THINK THAT'S IT. ALRIGHT, GOOD. THANK Y'ALL VERY MUCH. THANK YOU. THANK YOU. ALRIGHT, ITEM C, CONSIDERATION AND POSSIBLE ACTION TO APPROVE THE FISCAL YEAR OF 2024, 2025 FISCAL YEAR OPERATING BUDGET FOR THE FOOD ECONOMIC DEVELOPMENT CORPORATION. OKAY. SO CJ PUT TOGETHER A PRESENTATION, KIND OF A, A HIGHLIGHTS AND, UM, BUT CORY'S HERE, SO IF Y'ALL HAVE ANY QUESTIONS, DON'T ASK ME, ASK HER. SHE'S, SHE'S, SHE'S THE EXPERT. I'M JUST THE GUY THAT CJ CALLED AND SAID, HEY, CAN YOU DO THE PRESENTATION? UM, AND SO AND SO BASICALLY, I MEAN, THE ONLY THING I COULD REALLY ADD IS JUST KIND OF GO THROUGH THE, READ THROUGH THE SLIDES THAT Y'ALL CAN READ THROUGH. BUT, UH, YOU KNOW, BASICALLY THE, UM, UH, OUR, UH, UH, THE, THE EDC PROJECTS HAVE INCREASED THE, UH, THE PROPERTY VALUE, UH, IN THE CITY, UH, A GREAT DEAL. AND SO THE EDC DOES, UH, PERFORM, YOU KNOW, I GUESS THE POINT OF THAT IS SAY THAT, YOU KNOW, THE EDC, UH, AND THE WAY IT'S RUN HERE INCLUDE, AND THE, THE DECISIONS MADE HAVE BEEN VERY BENEFICIAL TO THE CITY, UH, PRIMARILY WITH A LOT OF THE, THE, UM, THE HOUSING DEVELOPMENT THAT WE'VE HAD, UH, HERE INCLUDE OVER THE LAST, YOU KNOW, SINCE 2012. UM, AND SO, YOU KNOW, THE, UM, UH, EVERYBODY, YOU KNOW, THE COMMON THING IS MORE ROOFTOPS BRING RETAIL. NOW THAT'S SOME FAIRLY TRUE, SOME LIMITED LIMITS TO THAT BECAUSE WE HAVE LAKE JACKSON WITH, WITH THE BA GREAT VACUUM CLEANER SUCKING ALL THE RETAIL OVER THERE. BUT, UM, UM, IT, IT, IT'S ALWAYS BENEFICIAL TO SALES TAX BECAUSE PARTICULARLY LIKE KROGER AND NOW OLLIE'S, WE'VE HAD SOME REALLY, YOU KNOW, HIGH PERFORMING, UH, SALES TAX, UH, DUE TO HAVING MORE HOUSES, MORE PEOPLE, MORE GROWTH, RIGHT? SO GROWTH IS, UH, USUALLY ALWAYS GOOD, RIGHT? UM, WE, LAST YEAR WE STARTED GOING THROUGH THE LIVABLE CENTERS, UH, PROGRAM AND WE HAD THE, UH, THE EXPERTS WORK WITH THE CITY AND THE, AND THE STAKEHOLDERS AND COMMUNITY MEMBERS TO COME UP WITH A PLAN. AND SO, UM, YOU KNOW, THAT HAPPENED LAST YEAR. AND SO WE'RE AT THE POSITION WHERE HOPEFULLY WE CAN MOVE FORWARD AND, UH, IMPLEMENTATION, UM, WITH SOME OF THAT. WE GOT, YOU KNOW, PROPERTY OVER THERE ACROSS THE STREET AT KLUT LAKE. UM, SO WE HAVE SOME, UH, SOME, UH, HOPEFULLY SOME GOOD POTENTIAL FOR FUTURE GROWTH THAT THE EDC WILL MOST LIKELY BE INVOLVED IN. AND THEN WE TALKED ABOUT LAST YEAR, UH, I THINK IT'S THE SAME THAT WE HAD LAST YEAR. WE HAVE, UM, OUR, UH, GRANT INITIATIVES PROGRAM THAT WE'VE IMPLEMENTED, UH, LAST YEAR AND, AND WE CONTINUE TO DO THAT. UM, SO THE NEXT SLIDE, CJ, IS POINTING OUT THE, UH, UH, THE VALUE IMPACT ON THE TAXES. UH, BASICALLY THE, UM, UH, WELL, I'M TRYING TO FIGURE OUT WHAT THIS, WHAT THE GREEN LINE IS HERE. BUT, UH, UM, AS WE'VE, UH, UH, AS WE'VE GROWN, UH, WE CAN SEE WHERE THE OVERALL PROPERTY TAX, UH, HAS GONE DOWN, UH, WHILE THE, UM, OUR REVENUES HAVE GONE UP. UH, PART OF THAT, YOU KNOW, MAY BE UNHAPPY ABOUT THE APPRAISAL DISTRICT, BUT, YOU KNOW, UH, IT'S THE SAME STORY. WE'VE HAD GOOD GROWTH, UM, ESPECIALLY IN THE RESIDENTIAL AREA, AND THAT JUST BRINGS GOOD STUFF TO THE CITY. GROWTH FOR PROPERTY TAXES AND, UM, SALES TAX. ON THE NEXT SLIDE, THAT EDC YEAR IN A REVIEW, THE HIGHLIGHTS. UM, WE GOT THE, UH, UH, YOU KNOW, AS Y'ALL KNOW, THE OLD, UH, SHOPPING CENTER ON BUSINESS 2 88, UH, HAS BEEN, UM, UH, UH, AN AREA THAT, UH, ADMINISTRATION WOULD LIKE TO DO EVERYTHING THEY CAN TO IMPROVE. AND IT, BECAUSE, YOU KNOW, UM, NEW DEVELOPMENT, IF YOU HAVE LAND NEW DEVELOP IS EASY, BUT REDEVELOP IS, IS REALLY CHALLENGING. AND SO YOU MAY HAVE OLDER BUILDINGS AND OLDER INFRASTRUCTURE AND TRYING TO BRING THAT UP, UH, BACK TO MODERN, UH, FUNCTIONING IS SOMETIMES A CHALLENGE. SO OVER THIS LAST YEAR, WE GOT THE, UM, OVER AT THAT SHOPPING CENTER, [00:15:01] WE HAVE THE NEW, UM, STORAGE FACILITY THERE. WHO OWNS THAT? CHRIS? THE, THE STORAGE FACILITY? I DON'T RECALL THE GUY'S NAMES. I'VE MET THEM. THEY'RE FROM HOUSTON, BUT I DON'T REMEMBER THE NAME. OH, HE WAS A FELLOW FROM INDIA, SO HE SOLD IT. YES. YEAH. THE PEOPLE DOING THE STORAGE, UH, ARE SOME FOLKS FROM, UH, HOUSTON. AND THEN THE, ALSO WE HAVE THE NEW, UH, CONVENIENCE STORE THAT HAS A FAST FOOD ELEMENT, UH, TO IT, WHICH, UM, YOU KNOW, UM, UH, RESTAURANT SALES TAX ON RESTAURANT FOOD IS ACTUALLY A BIG PRODUCER. YOU KNOW, AS A MATTER OF FACT, UH, UH, EL TORO WITH THEIR FOOD SALES AND ALCOHOL SALES ARE ACTUALLY A REALLY BIG CONTRIBUTOR TO OUR LOCAL SALES TAX. SO, UH, ONCE AGAIN, KFC, EVERYBODY WANTED FRIED CHICKEN. IT WAS, EVERYBODY WENT CRAZY ALL OVER BRAD SUPPORT AREA FOR KFC. UH, AND, YOU KNOW, I EXPECT THAT'LL HIT A, AFTER THE INITIAL BOOM, IT'LL HIT A A MEAN LEVEL. BUT STILL, IT'S ANOTHER, ANOTHER ELEMENT BRINGING MORE SALES TAX TO THE CITY. UM, WE HAD A, UH, UH, THE, THE THREE 80 AGREEMENT WITH THE KROGER SHOPPING CENTER WAS A LONG TERM, UM, UM, UH, THREE 80 AGREEMENT, UH, BACK WHEN GARY BEVERLY WAS HERE THAT Y'ALL ENTERED INTO THAT. AND, UH, WE, UH, PAID THAT OFF. UH, THE INCENTIVE PAID THAT OFF EARLY THIS YEAR. UH, WE COULD HAVE SPENT ANOTHER COUPLE OF YEARS MAKING PAYMENTS, UH, BUT, UH, WE DECIDED TO GO AHEAD AND PAY THAT OFF AND GET IT OFF THE BOOKS. 'CAUSE THAT WILL FREE US UP FOR OTHER DEBT OR OTHER BONDS OR OTHER THINGS WE MAY WANT TO DO IN THE FUTURE. UM, ONCE AGAIN, GOING BACK TO HOUSING, WE STILL HAVE MORE DEVELOPMENT GOING ON AT WOOD SHORE AND MORE DEVELOPMENT GOING ON AT COLLEGE PARK. UH, SO, YOU KNOW, THE CHALLENGING THING IS THAT KLU IS BASICALLY LANDLOCK. WE DON'T HAVE A LOT OF, YOU KNOW, WE'RE NOT LIKE KATIE, THAT WE CAN JUST KEEP GROWING, GROWING WEST, WEST, WEST, YOU KNOW, SO WE'RE GONNA, YOU KNOW, WE'RE KIND OF AT THE END OF OUR, UH, YOU KNOW, COMING TO THE END OF OUR AVAILABLE PROPERTY FOR DEVELOPMENT FOR RESIDENTIAL. AND SO WE'RE GONNA REALLY FACE I THINK, PROBABLY A UNIQUE CHALLENGE AFTER WE'RE BASICALLY BUILT OUT TO TRY TO FIND WAYS. AND I THINK EDC WILL BE A GOOD TOOL TO USE TO, UH, HELP PROMOTE REDEVELOPMENT. YOU KNOW, MAYBE WE HAVE OLD HOUSES THAT NEED TO BE TORN DOWN AND REPLACED WITH NEWER HOUSES. UM, AND THEN WE HAVE SOME ISSUES WITH, UM, UM, UM, CITY COUNCIL WITH REGARD TO, YOU KNOW, LOT SIZES AND REALLY SMALL, OLDER LOTS IN THE OLDER PART OF THE CITY, TRYING TO MAKE THEM SO THAT THEY CAN BE DEVELOPED, UM, BECAUSE, UH, WE DON'T HAVE THE LUXURY OF JUST GROWING OUT. SO WE HAVE TO FIND WAYS TO GROW WITHIN, UH, BECAUSE THINGS ARE NOT GETTING LESS EXPENSIVE. RIGHT. UM, AND THEN, UM, I KNOW I DIDN'T REALLY DISCUSS THIS WITH CJ. I LOOKED AT HIS PRESENTATION , UH, CHALLENGES PRESENTED BY BARRELL. I'M NOT, I'M NOT SURE SPECIFICALLY WHAT HE WAS TALKING ABOUT AS FAR AS CHALLENGES FOR THE EDC, BUT, UH, THE WHOLE CITY. UM, YOU KNOW, WE WEREN'T EXPECTING BARREL TO BE THAT MUCH OF A BIG DEAL, AND IT ACTUALLY WAS QUITE A BIT MORE DESTRUCTIVE THAN WE ANTICIPATED. AND, UH, I CAN JUST SAY THAT, YOU KNOW, I HAVE CONTACT WITH OTHER CITIES AND I'VE BEEN THROUGH THINGS WITH OTHER CITIES AND CURRENT CLIENTS THAT I HAVE AND, AND FORMER CLIENTS. AND I CAN SAY THAT THE WAY THAT THE CITY RAN DURING THE HURRICANE WAS INCREDIBLY PROFESSIONAL AND WELL, WELL ORGANIZED. I MEAN, EVERYBODY WAS ALL HANDS ON DECK. EVERYBODY KNEW WHAT THEY WERE SUPPOSED TO DO. EVERYBODY'S DOING WHAT THEY WERE SUPPOSED TO DO. AND SO, UM, UM, UH, YOU KNOW, IF YOU TALK TO ANYBODY WITH THE CITY, WHETHER IT'S, YOU KNOW, CJ I MEAN, HE'S THE TOP, YOU KNOW, THE GUY AT THE TOP OF THE LADDER. BUT IT'S REALLY ALL THE PEOPLE FROM THE TOP DOWN REALLY WORKED TOGETHER. AND IT WAS JUST VERY WELL ORGANIZED AND, UH, UH, AND THE COMMUNICATION WAS VERY GOOD WITH, UH, SOCIAL MEDIA AND, UH, UM, SO I THINK THAT I THINK THE CITY OF CLU CAN BE PROUD, UH, THE WAY THAT THEY HANDLED THE, THE HURRICANE AND SHOW THAT, YOU KNOW, THEY'RE REALLY PREPARED FOR ANYTHING THAT COMES TO US. UM, THE NEXT SLIDE, EDC BUDGET. UM, WHEN, WHEN DOING THE BUDGET, A LOT OF IT IS A, YOU'RE PROJECTING, RIGHT? AND A LOT OF IT'S A GUESSING GAME, AND YOU TRY TO MAKE AN EDUCATED GUESS, OKAY, WHAT'S OUR REVENUE GONNA BE, RIGHT? BUT SOME THINGS YOU JUST CAN'T REALLY, ARE IMPOSSIBLE TO PREDICT. AND, AND SO, YOU KNOW, I BELIEVE THAT, UH, CJ GENERALLY, UH, TAKES A, A MORE CONSERVATIVE VIEW 'CAUSE YOU'D RATHER COME IN HIGHER THAN YOU THOUGHT YOU WOULD, THAN LOWER THAN WHAT YOU WOULD. UM, BUT, UH, YOU KNOW, WE DO HAVE TO BE CONCERNED ABOUT, UH, OUR SALES TAX TRENDS. UH, AND, YOU KNOW, UM, WHEN WE HAD COVID, EVERYBODY'S ORDERING THING ON AMAZON, THEY'RE NOT GOING OUT AND SHOPPING. AND SO WE HAD HIGHER SALES TAX REVENUE 'CAUSE THE LAW CHANGED AND YOU GET THE SALES TAX FROM WHERE THE ITEM IS DELIVERED. SO THAT WAS ACTUALLY KIND OF A BOOM FOR US, FOR PEOPLE STAYING [00:20:01] HOME, NOT GOING TO LAKE JACKSON RETAIL AND ORDERING ONLINE. BUT NOW WE'RE OUT OF THAT. AND SO NOW PEOPLE ARE GOING BACK TO THE OLD RETAIL SITES THAT MAY OR MAY NOT BE INCLUDED. SO, UH, THERE IS A LITTLE BIT OF A, A DRAG ON OUR SALES TAX COLLECTIONS FROM THAT. ALSO, ANOTHER ITEM OF, OF PRETTY SERIOUS CONCERN, PARTICULARLY THE OLD KROGER SHOPPING CENTER, THAT THEY'VE HAD A LOT OF PROBLEMS AFTER THE HURRICANE WITH DAMAGE AND THEIR ELECTRICAL SUPPLY AND SO FORTH, WHERE WE HAVE SEVERAL BUSINESSES THAT ARE JUST CLOSING DOWN AFTER BARREL. UH, WHETHER THEY LOST BUSINESS DURING BARREL AND IT WAS JUST TOO BIG OF A HIT FOR THEM TO BE ABLE TO MAKE IT UP AND START UP AGAIN. OR LIKE I SAID, THAT SHOPPING CENTER, THEY HAVE SOME PROLONGED CLOSURES BECAUSE OF THEIR INFRASTRUCTURE PROBLEMS. AND, UH, AT LEAST A HANDFUL OF THOSE BUSINESSES HAVE TOLD CJ, HEY, WE'RE JUST NOT GONNA OPEN UP AGAIN. AND SO IS THAT THE DEAL WITH BELL FURNITURE? IS BELL BELL'S ACROSS THE STREET THOUGH, CORRECT? I'M NOT SURE WHAT THE DEAL IS WITH BELL FURNITURE, WHAT THEIR SITUATION IS. I DON'T KNOW THEIR SPECIFICS, RIGHT? THEY'RE TRYING TO SELL IT. BUT, UH, I JUST KNOW THAT, YOU KNOW, SHUTTING DOWN FOR THE HURRICANE, PAYING EXPENSES FOR DAMAGES, AND THEN SOME INFRASTRUCTURE PROBLEMS, UM, THAT'S GONNA BE A HIT FOR OUR SALES TAX COLLECTION. 'CAUSE IF YOU THINK, IF YOU LOOK AT THE CITY OF CLU, UM, AND HOW WE'RE LAID OUT, WE REALLY DON'T HAVE A LOT OF WHAT YOU WOULD CALL TRADITIONAL RETAIL AREA, RIGHT? AND SO YOU'VE GOT DIXIE DRIVE OVER THERE, AND THEN YOU'VE GOT 2 88 BUSINESS, UH, YOU KNOW, MOST OF THE LONG PLANTATION IS MORE KIND OF INDUSTRIAL TYPE THINGS. IT'S NOT TRADITIONAL, YOU KNOW, MOM AND POP RETAIL, RIGHT? SO, UM, YEAH, I THINK THAT'S SOMETHING THAT WE'RE GONNA, YOU KNOW, HOPEFULLY, UM, WORK TOGETHER AND FIND SOME ANSWERS AND GET SOME NEW BUSINESSES. IF WE LOSE BUSINESSES, THEN TRY TO FIND, UH, YOU KNOW, INCENTIVES AND FIND NEW BUSINESS TO, TO COME TAKE THEIR PLACE, RIGHT? SO, UH, BASED ON THOSE FACTORS, UH, CJ UM, UH, BUDGETED A 0.8% DECREASE IN REVENUE, WHICH DOESN'T SEEM THAT SIGNIFICANT. UH, YOU KNOW, 'CAUSE IT'S A FRACTIONAL POINT, BUT IT'S JUST, WHEN YOU'RE DOING BUDGETS A LOT OF TIME, YOU JUST EXPECT EVERY YEAR WE'RE GONNA GROW AND GROW. EVERYTHING'S, EVERY YEAR THE BUDGET'S GONNA BE BIGGER AND BETTER. BUT THAT DOESN'T ALWAYS HAPPEN. AND THAT'S NOT, THAT'S NOT WHERE WE ARE THIS YEAR. UM, AND THEN, UH, THERE'S A PROJECTION THAT WE'RE MAKING SLIGHTLY HIGHER INTEREST, UH, REVENUE ON OUR ACCOUNTS, ON OUR SAVINGS ACCOUNTS. SO ON THE NEXT SLIDE, IF YOU LOOK AT OUR EDC BUDGET REVIEW, AND YOU LOOK AT THE, AT THE GRAPH, YOU KNOW, PICTURES ARE EASY TO LOOK AT AND YOU CAN SEE THAT, UH, ALTHOUGH IT DOESN'T HAVE THE YEARS HERE ON THERE, BUT, UH, YOU CAN SEE OUR TREND. YOU KNOW, THERE'S A NUMBER OF SEVERAL, PROBABLY 10, 12 REFERENCE POINTS. YOU CAN SEE THAT OUR GENERAL TREND HAS BEEN GROWING, GROWING UP AND UP. SO THAT'S ALWAYS GOOD. BUT WE HAVE A LITTLE BIT OF DIP THIS YEAR, AND A LOT OF THAT IS BECAUSE WE REALLY DON'T KNOW, WE CAN'T PROJECT, ARE THOSE BUSINESSES GONNA OPEN BACK UP? ARE THEY GONNA BE REPLACED? UH, SO IT'S ALWAYS BETTER TO BE CONSERVATIVE WITH YOUR ESTIMATE, AND WE HOPE WE BLOW IT THROUGH THE ROOF AND WE ACTUALLY COLLECT A LOT MORE THAN WE'RE PROJECTING. UH, THE NEXT SLIDE ON, ON EXPENDITURES. UM, YOU KNOW, ONE OF THE THINGS THAT THE, UM, THE EDC ADVANTAGE THAT THE EDC HAS VERSUS THE CITY IS THE CITY. I MEAN, WE'VE GOT JUST FIXED EXPENSES THAT YOU CAN'T DO ANYTHING WITH. I MEAN, WE'VE GOT EMPLOYEES, WE'VE GOT EQUIPMENT, WE'VE GOT FUNCTIONS THAT WE'VE GOT TO DO. AND WHEN THE PRICE OF FUEL GOES UP, WHEN THE PRICE OF MATERIALS GOES UP, YOU KNOW, THE CITY, UH, REALLY IS PUT IN, IN A TOUGH POSITION TO LIVE WITHIN THE BUDGET. UH, WHEN WE'RE LIMITED ON HOW MUCH WE CAN INCREASE REVENUES, BUT WE HAVE INCREASING EXPENSES. ONE BENEFIT OF THE EDC BUDGET IS, YOU KNOW, UH, REALLY NONE OF OUR BUDGETS, UH, NONE OF OUR EXPENSES ARE OVERHEAD, ABSOLUTE WE HAVE TO PAY, RIGHT? AND SO WE COULD BE A LOT MORE FLEXIBLE THAN MAYBE THE CITY CAN BE. UM, AND THEN ESPECIALLY SINCE WE GOT RID OF THAT, UH, THAT THREE 80 AGREEMENT DEBT, UH, I DON'T, I DON'T THINK WE HAVE ANY OUTSTANDING DEBT THAT WE HAVE TO, THAT WE HAVE TO COVER RIGHT NOW. SO IF YOU LOOK AT OUR EXPENDITURES, YOU KNOW, WE CONTINUE WITH THE SMALL DEVELOPMENT, UH, INCENTIVE PROGRAMS. AND, AND I THINK IT'S IMPORTANT THAT I POINTED OUT THAT IT'S NOT JUST FOR NEW BUSINESSES, BUT A LOT OF TIMES PEOPLE DON'T THINK ABOUT YOU TAKE FOR GRANTED THE EXISTING BUSINESSES THAT HAVE BEEN GETTING YOU THROUGH YEAR AFTER YEAR AFTER YEAR. AND SO, UM, YOU KNOW, WE NEED TO, YOU KNOW, GET THE WORD OUT, NOT JUST TO THE NEW BUSINESSES, BUT THE EXISTING BUSINESSES THAT WE'RE HERE TO, YOU KNOW, THESE, THE GRANTS AND INCENTIVES THAT WE HAVE ARE AVAILABLE TO ALL BUSINESSES, RIGHT? UM, WE DID HAVE, UH, IN THE BUDGET FUNDS INCLUDED FOR ADDITIONAL PURCHASES OF PROPERTY. UH, AND Y'ALL, Y'ALL HAVE AN IDEA ABOUT, YOU KNOW, WHAT THAT, WHAT THAT IS ABOUT. UM, HOPEFULLY WE'LL BE ABLE TO POSITION TO START TO IMPLEMENT, UH, SOME OF THE RECOMMENDATIONS OF THE LIV LIVABLE CENTERS, UM, [00:25:01] AND THE LIVABLE CENTERS. IT'S, UM, YOU KNOW, IT COMES FROM THE, FROM, UH, MONEY AVAILABLE BASICALLY FOR TRANSPORTATION AND MOBILITY. BUT, UH, BUT THE PLAN PUT TOGETHER ALSO IS FOR CREATING, UH, YOU KNOW, A UNIQUE PLACE, UH, CREATING A BRAND FOR YOUR CITY, CREATING A UNIQUE PLACE, AND ALSO BUILDING, UM, UH, REVENUE THROUGH NEW BUSINESS, RIGHT? AND SO HOPEFULLY IMPLEMENTATION, IMPLEMENTATION OF THE LIVABLE CENTERS WILL LEAD TO EXPANDED AND CONTINUED GROWTH OF BUSINESS IN THE TOWN. UM, COMMUNITY DEVELOPMENT PERSONNEL SHARE, SHARED WITH THE C-V-P-C-V-B, UM, WE HAVE, UM, UH, THROUGH THE, THE, UH, GRANTS AND SO FORTH, WE'RE ABLE TO, UH, HELP, UH, FOR THE CLU VISITOR BUREAU. UM, YOU KNOW, THOSE FOLKS TRY TO DRIVE PEOPLE TO OUR TOWN BECAUSE, YOU KNOW, UM, THROUGH TOURISM OR OTHERWISE, THE LONGER PEOPLE SPEND IN YOUR CITY, THE MORE DOLLARS THEY SPEND IN YOUR CITY. SO IF YOU HAVE PEOPLE COME TO YOUR CITY AND STAY AT A HOTEL, FOR EXAMPLE, TOURISM DOLLARS ARE VERY VALUABLE 'CAUSE THEY'RE NOT TAX DOLLARS, THEY'RE MONEY FROM SOMEBODY ELSE'S COMMUNITY COME TO YOUR COMMUNITY AND THEY'VE GOTTA BUY EVERY MEAL AND PAY FOR ALL THEIR ACTIVITIES AND BUY THEIR GAS. AND SO, UH, THAT'S HOW THE, YOU KNOW, VISITOR BUREAU AND TOURISM HELPS LINK INTO INCREASING OUR SALES TAX, WHICH IS WHERE THE EDC GETS THEIR REVENUE. NOT JUST THE CITY, BUT THE EDC ALSO. UM, AND SO ON THE NEXT SLIDE, WE HAVE THE BIG OVERALL FOR THE FOLKS THAT LIKE TO LOOK AT NUMBERS. UM, UH, HERE WE HAVE THE, OUR, I GUESS THIS WOULD BE MORE LIKE A BALANCE SHEET, I GUESS. UM, WE, UH, I GUESS IN 22, 23 WE STARTED WITH, UH, 2.776 MILLION. UH, WE'RE PROJECTED TO HAVE THE SAME AMOUNT AT THE END OF THE YEAR. AND THEN, BUT WE'RE PROPOSED THAT THIS YEAR WE'RE GONNA HAVE AN OVERALL REDUCTION OF OUR, UM, UH, CORPORATION FUND. UM, AND UH, 'CAUSE WE'RE PROJECTING REVENUE OF 1.175 EXPENSES OF 1.15. SO WE'RE GONNA BE, UM, WELL, I'M TRYING TO FIND WHAT HAPPENED. COREY, WHAT HAPPENED TO HELP THE KROGER? OH, THE KROGER, THE BIG KROGER PAYMENT IS WHAT IT GOT US FROM 2 MILLION 7 76 TO BASICALLY 1.3, RIGHT? SO WE'RE GONNA BE UNDER THIS BUDGET, WE'RE GONNA BE $16,000 IN THE POSITIVE. COREY DIDN'T GET A MILLION DOLLARS. IT JUST, IT JUST, JUST A MILLION DOLLARS. UH, IT'S JUST A ZERO OR TWO SOMEWHERE. UM, SO THEN ON THE NEXT, ON THE NEXT, UH, SLIDE, UH, WE HAVE THE, UH, DETAIL AS FAR AS THE, UH, UH, THE REVENUE. SO LIKE I SAID, WE, HE'S PROJECTED, UM, 1.165 IN OUR SALES TAX REVENUE AND A LITTLE BIT, UH, AND THEN THE 10,000 IN OUR INTEREST REVENUE. SO THAT'S A TOTAL OF $1,175,000. AND THEN YOU CAN GO THROUGH THE EXPENDITURES AND UH, UH, IF YOU LOOKED AT THE, UM, PROPERTY PURCHASE OF UH, UH, 200,000 SPECIAL PROJECTS OF 125,000, UH, THOSE ARE SOME OF THE BIGGER EXPENSES. DEBT SERVICE, I GUESS. WE STILL HAVE SOME DEBT, ADDITIONAL DEBT SERVICE. WE'VE GOT $310,000. DO YOU KNOW WHAT THAT DEBT SERVICE IS? CORY? CITY HALL? YEAH. POLICE STATION. OKAY. , YOU GOT TWO OF 'EM? YEAH. AND THEN THE TRANSFER TO THE GENERAL FUND, THEY SHOULD BE GETTING PRETTY NEAR COMING OFF. IS THAT FIRE STATION 20? COULD BE, SHOULD BE FIRE. IT'S EITHER CITY HALL, CITY HALL OR FIRE STATION. ONE OF THE OTHER. WELL, YOU GOT ONE OF EACH, I THINK. YEAH, YEAH, YEAH. OR PROBABLY BOTH BECAUSE YEAH, BECAUSE YOU GOT THE CERTIFICATE OF OBLIGATION OF 2005 AND THEN 2013. SO I THINK ONES FIRST IS CITY HALL IN THE LETTER. THAT ONE WAS THE FIRE STATION. YEAH. THE ONE, THE, THE ONE FROM 2005 IS THE PARKS DEPARTMENT. THE, THE POOL PAVILION, THE, THE, UH, POLICE STATION AND CITY HALL. AND THE OTHER ONE IS THE FIRE STATION. WHAT'S THE DIFFERENCE BETWEEN SPECIAL PROJECTS AND CAPITAL SPECIAL PROJECTS? I BELIEVE THAT, WELL, AND COREY MAY KNOW HIM BETTER THAN I DO. I BELIEVE THE SPECIAL PROJECTS IS LIKE THE, IS THAT THE GRANTS PROGRAMS AND THEN THE PROPERTY IS PURCHASE OF PROP A REAL PROPERTY. WELL THAT'S NO PROP CAPITAL. PROP CAPITAL PROPERTY IS THAT. BUT RIGHT ABOVE THAT YOU'VE GOT 49 CENTS THAT I THINK THE SPECIAL PROJECTS PORTION IS KIND OF BEAUTIFICATION. YOU GOT TYPE STUFF. OKAY. [00:30:04] HEDGES, SIGNS, ROCKS, , DO YOU KNOW WHAT OUR LONG TERM OBLIGATIONS ARE? OR DEBT? I DO NOT KNOW. YOU DON'T KNOW WHAT OF GUYS PAID OFF? THEY PICKED THE WRONG PERSON TO PRESENT THE BUDGET. 'CAUSE Y'ALL KNOW MORE ABOUT IT THAN I DO. SO, UH, THE ONLY THING, THE ONLY THING THAT WE OWE MONEY ON IS, WELL WE HAVE FIRE STATION IN THESE BUILDING. WHEN THE FIRE STATION TERM OUT, UH, IT'S A, IT SHOULD BE PRETTY 2013 DEBT. SO IS IT A 15 YEAR DEAL? PROBABLY 20 IS A 20 YEAR DEAL. I THINK 25. 25 YEAR DEAL. 25. 2025. OH, I MEAN IT TURNS OUT AT 2025. WELL, I, I'LL DOUBLE CHECK. I MEAN WE'VE BEEN HITTING IT SUBSTANTIALLY EVERY YEAR THAT AMOUNT, SO. RIGHT. I THINK THIS ONE, I THINK THIS ONE MATERIALS IN 2025 AND THE FIRE STATION WOULD BE LIKE BOTTOMS 2025. YEAH, I THINK THIS ONE, THIS ONE IS 2025 AND THE FIRE STATION WOULD BE LIKE 2033 OR SOMETHING LIKE THAT. UH, WHAT'S THE TRANSFER TO GENERAL FUND? YEAH, WE COULD STOP THAT TRANSFER TO GENERAL FUND IT JUST PAY OUT A PORTION OF THE CITY EXPENSES. YEAH, WE NEED TO VOTE ON THAT EVERY YEAR, BY THE WAY. YEAH. , THAT'S WHY THEY GIVE YOU A BUDGET, NOT LINE NINE BE RIGHT. THAT'S THE, THAT'S THE PAY FOR THE TIME THAT COREY SPENDS BOOKKEEPING FOR Y'ALL. THE TIME THAT EVERYBODY ELSE SPENDS, YADA, YADA, YADA. IS THAT WHAT THAT IS? MAILING STUFF OUT? MAILING STUFF IN? WELL, IN TECHNIQUE. UH, AND, AND THE LAW STATES THAT THE, UH, THE EDC CAN'T ACCEPT ANYTHING FOR FREE FROM THE CITY. SO WE HAVE TO PAY A PORTION OF LIKE SPACE RENTAL LABOR, THOSE KIND OF THINGS. WE DON'T HAVE A, WELL, 90 GRAND. I THINK WE'RE DOING A GOOD JOB. YEAH, I THINK SO. WE DON'T HAVE A, WE DON'T HAVE AN EDC DIRECTOR PER SE. CJ IS THE EDC DIRECTOR. SO APPORTION, HIS SALARY IS PAID FOR HIS LET'S MEET IN A SMALLER ROOM. RIGHT, RIGHT. DECREASE OUR, YEAH. REALLY DECREASE OUR APPORTIONMENT. I DIDN'T KNOW. WE PROBABLY JUST PAID 50 BUCKS A PLATE FOR OUR LUNCH TODAY, . YEAH, WELL WE HAD, AT ONE TIME WE HAD A CITY MANAGER AND ASSISTANT CITY MANAGER. EDC DIRECTOR. WELL, THEY BOTH FLEW THE COBE AND IT TOOK THE MONEY THAT WE WERE PAYING BOTH OF THEM TO GET ONE PERSON. SO THAT ONE PERSON TOOK TWO JOBS WHEN THEY GOT HIRED. . AND THEN THAT LAST, LAST LINE ITEM THAT THAT'S, UH, US PAYING FOR THE VISITOR BUREAU FOLKS THAT YOU WERE DISCUSSING EARLIER, THE TRANSFER OR, MM-HMM. , RIGHT? THAT CORRECT? YES, SIR. SO THIS, THIS IS THE FIRST, THIS IS, THAT'S SOMETHING NEW THAT WE'VE JUST STARTED DOING. YES, SIR. YEAH, THAT'S A, THAT'S A NEW ITEM. I DON'T, I I DON'T KNOW WHAT HE DID THERE. I DO KNOW, I DO KNOW THAT FROM WHAT I UNDERSTAND, HE WAS THE PERSON THAT HE WAS TRYING TO HIRE AS THE CBV. THE CV B DIRECTOR WAS GONNA ALSO BE A, LIKE A SALES PERSON FOR TRYING TO RECRUIT, RECRUIT BUSINESSES, BUSINESSES OF WELL, TOUR WAS GONNA BE KIND LIKE THE, THAT PERSON WAS GONNA HAVE DUAL RESPONSIBILITY AS IT WAS. AND FROM WHAT I UNDERSTAND, IT'S JUST A PART-TIME PERSON NO, RIGHT NOW. YEAH. CHRIS, IS THERE ANYTHING ELSE FROM YOUR END? NO, SIR. NO. UM, LIKE I SAID, IF Y'ALL HAVE QUESTIONS, PROBABLY THE MAYOR AND COREY KNOWS A LOT MORE DETAILS THAN THAT. I'M JUST THE TALKING HEAD. I THINK IT PRETTY WELL FLAT BASICALLY FROM LAST YEAR LEFT. WHERE IS THIS MONEY DECIDING WHO, WHICH BANK IS IT IN, DO YOU KNOW? JEFF? DO WHAT? WHICH BANK ARE WE, IS THIS ACCOUNT IN? DO YOU KNOW WHERE THE EDC FUNDS ARE? ARE THEY IN A BANK OR IN THE, IN THE STATE DEAL OR, UH, I'M SURE SOME OF IT IS PROBABLY IN AN INVESTMENT ACCOUNT, BUT I THINK, I THINK WE BANK AT THE FIRST STATE BANK. WE HAVE AN ACCOUNT AT FIRST STATE BANK. WE HAVE AN ACCOUNT AT TEXAS. SO WE MADE 118,000 IN INTEREST. THAT'S PRETTY GOOD. MM-HMM, . THAT'S FROM OUR, THAT'S PROBABLY FROM OUR INVESTMENT ACCOUNTS. A LOT OF IT. IS THAT A GUARANTEED AMOUNT OR IS THAT JUST WE CAN ONLY INVEST IN WITH CITY FUNDS, YOU CAN ONLY INVEST IN CERTAIN TYPES OF CDS. YES. KIND OF THROUGH THE NO, IT'S THROUGH THE STATE. LIKE RISK. THEY HAVE A POOL OF INVESTMENT THAT ALL CITIES INVESTED TO THAT WE [00:35:01] HAVE, WE HAVE TO INVEST IT LIKE GO GOVERNMENTAL FUNDS. WE CAN'T INVEST IN REAL ESTATE OR INSURANCE. SO THIS MONEY ISN'T IN A LOCAL BANK, HUH? WE DON'T HAVE THIS MONEY SITTING IN A LOCAL BANK. SOME OF IT, SOME OF IT SAID SOME OF IT'S IN FIRST STATE BANK, SOME OF IT, IT THE TEXAS GULF, TEXAS GULF. BUT, BUT THE MAJORITY OF OUR FUNDS ARE IN WHAT THEY CALL IT A A WHAT'S THE UBS TAX POOL? YEAH. UBS TEXAS. YEAH. SO OUR OPERATING IT, I'M SURE, I DON'T KNOW THE DETAILS, BUT I'M SURE THAT WE WOULD KEEP ENOUGH TO HAVE OPERATING FUNDS IN THE LOCAL BANK AND THEN THE, THE SAVINGS OR THE EXTRA, WE'RE HAVING A TEXAS POOL BECAUSE THAT GETS THE RETURN. WE BASICALLY HAVE A RESERVE ACCOUNT, INCLUDES INCLUDE BANK AND THE REST OF ALL THE DAY TO DAY TRANSITIONS ARE DONE OUT TEXAS GULF. AND YOU CAN'T LEGALLY, YOU'RE ALLOWED TO INVEST IN CDS, BUT THEN YOU GET INTO WHERE YOU HAVE TO REALLY LADDER THEM BECAUSE THEY'RE A FIXED TIME PERIOD. RIGHT. SO IF YOU NEED TO GET YOUR MONEY, YOU DON'T WANT LIQUID WITHDRAW, YOU KNOW, PENALTY. AND SO YOU CAN HAVE 'EM RENEW SEVERAL YEARS, BUT THAT'S STILL NOT AS GOOD AS TAX POOL THAT YOU CAN GET YOUR MONEY RIGHT BACK OUT. WELL I PROB CORY PROBABLY HADN'T BEEN YET, BUT SHE'LL BE GOING HERE BEFORE LONG. 'CAUSE EVERYBODY, THAT, EVERYBODY THAT HAS TO DEAL WITH THE MONEY HAS TO GO TO TRAINING CLASSES. SO, AND THEN THEY TELL YOU WHAT YOU CAN AND CAN'T INVEST IN ANY FURTHER DISCUSSION. AND IF Y'ALL CHANGE YOUR MIND, YOU CAN ALWAYS, UH, AMEND YOUR BUDGET LATER IF SOMETHING COMES UP. IT'S NOT, YOU KNOW, PEOPLE ARE LIKE, OH, WE DID THE BUDGET. WHEN YOU CAN DO BUDGET AMENDMENTS, YOU KNOW, I DON'T GET TO VOTE ON THE REAL BUDGETS. I WOULDN'T MAKE A MOTION THAT WE APPROVE THE BUDGET. , WE HAVE A MOTION ABOVE LATER. WHAT DO WE HAVE? A SECOND? SECOND. SECOND BY DR. SISES, DO WE HAVE ANY FURTHER DISCUSSION ON THE BUDGET? VERY WELL. ALL IN FAVOR? AYE. MOTION PASSES. THANK YOU. THE ITEM B CONSIDERATION OF POSSIBLE ACTION TO SET A PUBLIC HEARING DATE FOR EDC PROJECTS IN FISCAL YEAR 2024 2025, TRIGGERING THE 60 DAY REQUIREMENT FOR DISBURSEMENT OF FUNDS FOR PROJECTS INCLUDING LOCAL SMALL BUSINESS ASSISTANCE INITIATIVE, PROJECT RENOVATION, INCENTIVE INCENTIVIZATION PROJECT, AND E-COMMERCE INITIATIVE. SO ARE WE JUST BASICALLY NEEDING TO PICK A DATE, ROSIE HERE OR DO YOU HAVE ONE ALREADY? JUST NEED TO VERIFY. I'M GONNA RECOMMENDED DATE ON YOUR NOTES. UH, FOR OCTOBER, THE FIRST AT SIX 30. REASON BEING THE BUDGET GOES TO COUNCIL ON SEPTEMBER THE 12TH. AND THAT GIVES US AMPLE TIME. GIVE A NOTICE, PUBLISH. BUT IF THAT DOESN'T WORK FOR YOU, MAKE IT WORK ALREADY. OKAY. DO WE HAVE A MOTION TO APPROVE THE RECOMMENDED DATE FOR OCTOBER ONE? OCTOBER 1ST? I WILL BE OUT OF TOWN THAT DAY ONE AND I HAVE A, IT DOESN'T HAVE TO BE THAT DAY. A HUGE THING. I HAVE A CONFLICT ON THAT DAY, BUT I MAY NOT BE ALL THAT NECESSARY. SO, AND IT DOESN'T HAVE TO BE AT SIX 30 EITHER. IF YOU GUYS WOULD RATHER BE A LITTLE LATER BUT NEED THE PUBLIC HEARING, WHAT MATTERS TO ME. THAT'S A TUESDAY. IT IS. WHAT TIME IS IT PROPOSED TO YOU? SIX. WE'RE ALREADY DOWN ON COUPLE. IT COULD BE, UH, THE THIRD DAY AFTER. WOULD THE, WOULD THE THIRD WORK FOR HER? YEAH, I'LL LEAVE IN TOWN ON NOON ON THE FIRST AND BE BACK THAT EVENING ON THE THIRD. SO I SHOULD BE BACK IN TOWN BY. OKAY. WE CAN ALWAYS JUST CANCEL. WHAT'S THAT? ? NO, I NOT CANCELED. I'VE ALREADY ALREADY PAID FOR IT. WHERE DO YOU WANT IT AT? UH, THAT OUT TOWN? SIX 30 OR SEVEN. I KNOW THAT PERSONALLY EARLIER IS BETTER, BUT SAY SIX O'CLOCK WOULD BE GREAT. SIX. SIX O IS EARLY FOR YOU. JEFF? SEVEN, FIVE. NO, THAT'S GREAT. SIX. OKAY. DO WE HAVE A MOTION TO SET THE DATE? OCTOBER 3RD AT SIX O'CLOCK. SO MOVED. MOTION BY SECOND LEE. SECONDED BY KENNY VER FURTHER DISCUSSION. ALL IN FAVOR? AYE. MOTION PASSES. THANK YOU. I MOVE WE ADJOURN. MOTION. MAKE ANY VER TO ADJOURN. SECONDED BY DR. S BY EVERYBODY, I THINK. ALL IN FAVOR? AYE. AYE. THANK YOU EVERYBODY. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.