[1. CALL TO ORDER]
[00:00:08]
P.M. SO WE WILL CALL TO ORDER THE MEETING OF THE EDC. A QUORUM IS PRESENT. WE ARE CURRENTLY MISSING TWO MEMBERS. THE CDC CALL THE MEETING TO ORDER AT 601. WE HAVE A QUORUM
[2.A. Briefing - Upcoming Meetings & Events]
WITH ONE MEMBER ABSENT. OKAY. ALL RIGHT. FIRST UP. SO ITEM NUMBER TWO IS BRIEFING AND WORKSHOP ITEMS. ITEM A BRIEFING ON UPCOMING MEETINGS AND EVENTS. YES. SO UPCOMING MEETINGS AND EVENTS. THE FIRST ONE IS ACTUALLY GOING TO BE ON DECEMBER 1ST. IT'S CHRISTMAS AT THE COMMONS. OH SORRY I SHOULD HAVE PUT THAT. MY BAD. AND THAT IS MONDAY DECEMBER 1ST. IT STARTS AT 5:30 P.M. THEN WE HAVE THE VIRTUAL ECONOMIC DEVELOPMENT SALES TAX WORKSHOP.THAT ONE'S GOING TO BE VIRTUAL STARTING DECEMBER 1ST THROUGH 15TH. IF YOU WANT TO PARTICIPATE. THE DEADLINE FOR ME TO REGISTER YOU IS NOVEMBER 28TH, SO PLEASE LET ME KNOW AS SOON AS POSSIBLE. IF YOU'VE ALREADY TOLD ME AND YOU ALREADY HAVE ALL YOUR INFORMATION, YOU'RE REGISTERED, YOU'RE GOOD TO GO. JUST LET ME KNOW IF YOU'RE INTERESTED IN THAT. THE BOARD APPRECIATION BANQUET. JUST A REMINDER, IT WAS DECEMBER 6TH. IT GOT MOVED TO DECEMBER 12TH. SO I THINK SHE SENT AN EMAIL REGARDING THAT FOR YOU GUYS TO KNOW. SO PLAN ACCORDINGLY. UNFORTUNATELY, I WILL NOT BE ABLE TO ATTEND BECAUSE I THOUGHT IT WOULD BE DECEMBER 6TH AND I WILL BE OUT OF TOWN DECEMBER 12TH, BUT I WILL WISH YOU ALL THE BEST. AND IT'S AT CAMBRIA, SO YOU GUYS GET TO EXPERIENCE NEW HOTEL AND CONVENTION CENTER AND THEN JUST.
ANY UPDATES ON CHRISTMAS AT THE COMMENTS, OR DO WE NEED ANY VOLUNTEERS? YES. YOU WOULD LIKE TO BE A VOLUNTEER FOR CHRISTMAS AT THE COMMONS. PLEASE LET ME KNOW. WE GOT A COUPLE ALREADY.
WE HAVE A COUPLE. YES. WOULD YOU LIKE TO VOLUNTEER? I GOT IN CONTACT WITH CAPTAIN THORNTON TODAY. GREAT. YEAH. EXCELLENT. OKAY, WELL, I'LL LOSE HER. SO THIS YEAR WE HAVE 53 VENDORS.
WE'RE DOING SOMETHING A LITTLE DIFFERENT WHERE THE TRAIN'S NOT GOING TO BE EXACTLY AT THE TREE.
IT'S GOING TO BE KIND OF OFF IN THE BACK AREA JUST TO KIND OF HELP TRAFFIC FLOW. WE HAVE 14 FOOD VENDORS. WE'VE RAISED $22,500. WE HAVE 16 SPONSORS. OUT OF THOSE, 11 ARE GOING TO BE VENDORS. AND THEN A NEW KIND OF CONCEPT WE HAVE THIS YEAR IS THE STAR CENTER AREA, BECAUSE THEY ARE GETTING CLOSER AND CLOSER TO FINISHING UP THEIR STAR CENTER MULTI-SPORT FACILITY. SO THEY'RE GOING TO HAVE SOME EXCITING STUFF. THERE'S BEEN TALKS OF ZAMBONI, DALLAS STARS, GIRLS, BOUNCE HOUSE, ALL KIND OF FUN THINGS. SO THAT'S A WHOLE SECTION ITSELF. AND JUST TO COMPARE FROM LAST YEAR, LAST YEAR WE HAD TEN SPONSORS WITH ONLY FOUR OF THEM BEING VENDORS AND 37 VENDORS. SO WE WENT FROM 37 TO 53. SO THE EVENT IS DEFINITELY GROWING. IS THERE SOMETHING ELSE YOU WANT TO SAY ABOUT THAT? THAT'S GREAT. THANK YOU SO MUCH.
AND THEN THAT'S JUST NEXT YEAR'S MEETINGS. IF YOU WANT TO PUT THEM ON YOUR CALENDAR FOR 2026, THAT'S WHAT NEXT YEAR IS GOING TO LOOK LIKE. AGAIN, CSC TYPICALLY IS IN DALLAS, BUT NEXT YEAR IT'S GOING TO BE IN SAN ANTONIO. SO IF YOU'RE INTERESTED IN THAT, YOU CAN LET US KNOW. BUT THAT IS QUITE A JOURNEY. SO OKAY IF YOU CAN'T MAKE IT. AND THEN I THINK THAT'S IT. SO IF YOU NOTICE, IF YOU NOTICE NATHAN IS NOT HERE. HE HAD A FAMILY EVENT. SO YOU GET YOU GET STUCK WITH ME. SO LAUREN AND I WILL WE'LL GO BACK AND FORTH. SHE'LL BE BACK UP
[2.B. Briefing - Quarterly Financial Report]
FOR THE NEXT ITEM. BUT WE ARE THROUGH THE FISCAL YEAR. AND THE REVENUES CAME IN OVER THE ADOPTED BUDGET BY 6%. YOUR BUDGET IS ALL SALES TAX, MOSTLY SALES TAX. SO THAT'S THAT'S THE MAJORITY OF THE REASON THAT'S OVER. THOSE ARE HARD TO THOSE ARE HARD TO PREDICT OR AND SO BUT PRETTY CLOSE EXPENSES ARE AT 45% OF THE BUDGET BECAUSE WE HAVE A WE HAVE A BIG PAYOUT THAT WAS PLANNED FOR THE CAMBRIA HOTEL RESTAURANT. IT'S VERY IMPORTANT TO THE BOARD'S AND COUNCIL THAT THE HOTEL, THE HOTEL HAD A RESTAURANT ON SITE TO CATER EVENTS AND TO ALSO TO GO OUT TO EAT, AND THERE'LL BE AN ITEM LATER ON THE AGENDA. THE HOTEL TOOK LONGER TO COMPLETE, SO WE NEED TO EXTEND THE AGREEMENT TO MAKE IT SO THAT WE CAN GIVE THEM THAT, THAT THAT PAYMENT THAT WAS PLANNED. AND THEN ALSO YOUR PROJECTED FUND BALANCES ARE BASICALLY 1.7 EACH. SO IT'S AT AROUND $3.4 MILLION. BUT I'VE GOT ABOUT I'VE GOT A LOT OF STUFF WE'VE BEEN TALKING ABOUT THAT. SO YOU'LL SEE A MILLION TO APPROVE TONIGHT. AND WE'LL[00:05:06]
TALK ABOUT SOME ADDITIONAL INCENTIVES IN EXECUTIVE SESSION. ANY QUESTIONS ON THE FINANCIAL REPORT? OKAY. LAUREN, WHERE'D YOU GO? COME ON BACK UP HERE. RIGHT HERE. OKAY, SO OUR DETOUR[2.C. Briefing - 114 Gift Card Program Update]
PROGRAM IS GOING STRONG. IT ENDS ON NOVEMBER 30TH. SO THE LAST DAY OF NOVEMBER.BUSINESSES HAVE UNTIL. LET'S SEE ACTUALLY, LET'S GO TO THE NEXT ONE. AS OF NOVEMBER 19TH, WE'VE COLLECTED 480 CARDS FROM THE DIFFERENT BUSINESSES, $12,000 TOTAL VALUE OF CARDS RECEIVED. SO $25 PER CARD TIMES 480 TOTAL SPENT AT BUSINESSES HAS BEEN ABOUT $17,000, A LITTLE BIT OVER THAN THAT. AND THEN RESIDENTS HAVE UNTIL NOVEMBER 30TH TO UTILIZE THE CARDS. AND THEN DECEMBER 12TH IS THE DEADLINE FOR BUSINESSES TO SUBMIT THOSE CARDS FOR REIMBURSEMENT. SO WE'VE HAD A VERY GOOD TURNOUT. EVERY SINGLE BUSINESS THAT HAS BEEN PARTICIPANTS HAVE HAD GIFT CARDS TURNED IN. EVEN THE GAS STATIONS, DONUT STORES, COFFEE PJ'S, THE THE HEAVIEST TRAFFIC HAS DEFINITELY BEEN THE SIT DOWN RESTAURANTS. BUT AS YOU ALL KIND OF DISCUSSED AND KIND OF EXPECTED, BUT IT'S BEEN A REALLY GOOD TURNOUT SO FAR. AND EVEN TODAY I COLLECTED CARDS. SO THEY'RE CONTINUOUSLY COMING IN AND THEY'VE HAD A VERY GOOD EXPERIENCE. SO WE'VE BEEN PROMOTING THOSE AT ALL ON SOCIAL LIKE FROM NORFOLK. YES, I BELIEVE JENNIFER IS POSTED ON THAT. AND THEN ALSO WE HAVE THAT BILLBOARD OFF OF 114 THAT WE'VE CONTINUOUSLY CYCLING OUT THE DIFFERENT BUSINESSES. SO AND THEN IT WAS IN PEOPLE'S WATER BILL AS WELL. YEAH. WELL THOSE ARE THE PEOPLE THAT WE TOOK FROM. AND THEN WE HAD TO TAKE THE TRASH ADDRESSES AS WELL AND ADD THAT IN. SO EVERY RESIDENT SHOULD BE PARTICIPATING AT THIS POINT. SO I WAS JUST THINKING A REMINDER SINCE THE DEADLINE TIME. YEAH, YEAH WE'LL PROBABLY POST SOMETHING SOON. THANK YOU. NOW FOR DREW. SO HOW MANY RECEIVED THEIR DETOUR DOLLARS. RAISE YOUR HAND. ALL RIGHT. AND HOW MANY USED IT? TOMORROW. OKAY.
IT LOOKS LIKE I THINK THE TOTAL POTENTIAL EXPOSURE WAS 100 OVER 150,000. I DON'T THINK WE'LL PROBABLY. WE'LL PROBABLY EVEN REACH 50,000, WHICH, YOU KNOW, BUDGET WISE IS GREAT. BUT THE PURPOSE WAS TO GET PEOPLE OUT. SO WE'LL DO A WE'LL DO ANOTHER REMINDER. YOU'VE GOT UNTIL THE
[2.D. Briefing - Town Entry Monument Signs]
30TH. LET'S GO. OKAY. THE ENTRY MONUMENT SIGNS WILL GIVE YOU AN UPDATE ON THAT. THESE ARE JUST TO GET STARTED. THESE ARE KIND OF THE TWO POSSIBLE OR NOT POSSIBLE. BUT THE TWO LAYOUTS THE ONE ON THE LEFT IS A LITTLE BIT LARGER. WHEN WE HAVE MORE SPACE. THE ONE ON THE RIGHT IS IF SPACE IS LIMITED, OR IT CAN ALSO BE PUT IN A MEDIAN OF A BOULEVARD. SO THIS IS AND THESE WILL HAVE LANDSCAPING AROUND THEM. SO WE NEED WATER AND THEY'LL BE BACKLIT. AND SO WE NEED SOME ELECTRICITY. WE'RE RIGHT NOW WE'RE WE'VE WE'VE ENGAGED OUR ENGINEER TO DO THE NOW THE ELECTRICAL AND STRUCTURAL DESIGN OF THIS OF THESE MONUMENTS. SO HERE WERE THE SIX THAT WERE DECIDED. AND WE'RE GOING AND YOU'VE YOU'VE ASKED STAFF TO MOVE FORWARD WITH THE HIGH PRIORITY ONES. AND SO WE'VE IDENTIFIED ONE, THREE AND FIVE AS KIND OF THE, THE, THE ONES THAT WE CAN GET DONE THE QUICKEST AND, AND ARE, ARE MOST READY. SO THREE IS HERE DOWN AT. DEL DALE EARNHARDT AND 114 ONE IS IS RIGHT HERE AT HARVEST. AND 407 AND THEN FIVE IS AT GIBBS AND ROPES AND RANCH ROAD. SO KIND OF HELP YOU LOCATE WHERE THOSE ARE IN THE TOWN. AND, YOU KNOW, IT'S A PRETTY GOOD SPREAD AT THAT KIND OF SPREAD OUT. SO DREW ON THOSE OF THE TWO, TWO DIFFERENT VERSIONS. WHAT VERSIONS WOULD BE WHERE DO YOU THINK? THAT'S A GREAT QUESTION. IF YOU WAIT A FEW MORE SLIDES, I WILL GET TO THAT. SO SITE ONE IS AT 407 AND HARVEST WAY YOU CAN KIND OF SEE THE GENERAL LOCATION HERE IS KIND OF THE[00:10:09]
INITIAL SUGGESTION OF OUR ENGINEERS OF WHERE TO LAY THAT OUT. AND THEN AS THE AREA HAS DEVELOPED, THERE'LL BE A BANK OF AMERICA HERE, AND THERE IS A LARGE GAS LINE THAT COMES RIGHT THROUGH HERE. AND SO TO NOT BLOCK THE VIEW OF THE BARN AND TO NOT BLOCK THE VIEW OF BANK OF AMERICA, WE'VE WE'VE SAID IT HERE. OUR TOWN LIMITS ARE HERE OR THAT DOTTED LINE IS. BUT THIS IS VERY CLOSE TO THE ENTRANCE. THIS WILL BE THOMAS WILL BE ONE OF THE LARGE FORMAT AND PLENTY OF PLENTY OF ROOM THERE. THERE HAVE THEY HAVE SOME BERMS. I THINK THESE ARE TWO FOOT CONTOUR LINES. SO IT GOES UP FOR SIX FEET THERE. AND SO I FEEL LIKE THAT'S A GOOD LOCATION. WE'RE NEGOTIATING WITH THE PROPERTY OWNER HERE. WE'VE CHALLENGED YOU KNOW OUR TOWN LIMIT IS WHERE IT IS. AND SO WE. WE'RE WORKING WITH THEM AND WE MAY WE HAVE SOME WE HAVE SOME OTHER AVENUES AVAILABLE TO COUNCIL TO TRY TO GET THAT PROPERTY. WE'LL TALK TO COUNCIL ABOUT THAT. LIKE I SAID, EVERYTHING'S PRETTY MUCH SET. SO THERE'S VERY FEW PLACES LEFT.THE TOWN LIMIT, THE BANK, THE GAS LINE, THE BARN. ANY QUESTIONS ON THIS ONE QUESTION? OKAY. HERE. NOW WE'RE GOING TO GO ALL THE WAY BACK DOWN SOUTH. THERE'S DALE EARNHARDT. SAY HI.
ONE 114 HERE WE ARE IN KIND OF GENERAL LOCATION. ROANOKE TO THE EAST HERE. ORIGINALLY GOING TO PUT THE SIGN HERE. BUT THIS IS WHERE THE THE PROPERTY OWNER PUT THEIR DIGITAL BUILDING. SO AND BUT THEY HAVE SINCE ANNEXED ALL THIS PROPERTY. SO OUR TRUE TOWN LIMIT IS DOWN HERE. NOW THAT IS THAT IS FLOODPLAIN. BUT WE'VE NEGOTIATED AND PUT IT HERE. SO RIGHT ABOUT HERE THE THE BRIDGE OVER DALE EARNHARDT STARTS TO RISE. AND SO THE THE TRAFFIC ON 114 NOW HERE IS AT GRADE OF COURSE. OBVIOUSLY THE FRONTAGE ROAD IS AT GRADE. SO PEOPLE TRAVELING THROUGH HERE WOULDN'T BE ABLE TO SEE THAT SIGN IN THE ORIGINAL LOCATION. AND SO WE MOVED THE SIGN HERE.
THIS IS THIS HAS WE HAVE THE SITE, BUT WE DON'T HAVE WATER AND ELECTRICITY TO IT. AND THEY WERE MOVING VERY FAST ON DEVELOPMENT BUT THEY'VE SLOWED DOWN. BUT SO WE COULD WE COULD BUILD THE SIGN HERE AND WAIT FOR THE WATER AND ELECTRICITY TO COME. WE MAYBE COULD DO A KIND OF A DRY SCAPE OR HARDY PLANTS, OR PUT A SOLAR PANEL TO DO THE BACKLIT. SO WE'VE GOT SOME OPTIONS HERE ON WHAT TO DO WITH THAT. BUT ALL OF THESE, YOU KNOW, HAVE SOME CHALLENGES AND SOME OPPORTUNITIES. NOTHING IS PERFECT. NOTHING IS ABSOLUTELY READY. BUT THESE ARE THE BEST THREE OF THE SIX THAT WE'RE LOOKING AT. ANY ANY QUESTIONS ON THIS AND LARGE FORMAT TOM. ALL RIGHT. NOW THE LAST ONE WE'RE GOING BACK IN TO THE TOP TO THE NORTH OF NORTH LAKE HERE ON ROBSON RANCH. THE ORIGINAL ONE WAS GOING TO BE NEAR THE INTERSECTION OF GIBBS AND ROBSON RANCH, KIND OF ON THE CORNER, BUT I DON'T KNOW IF YOU CAN READ THAT ON THE SCREEN THAT SAYS GAS, THAT SAYS GAS THAT SAYS GAS. THEY DON'T LIKE STUFF ON TOP OF THEIR GAS LINES.
WE DON'T LIKE TO PUT STUFF ON TOP OF THEIR GAS LINES. SO THAT LOCATION DIDN'T REALLY WORK FOR FOR A NUMBER OF REASONS. SO THE THOUGHT HERE IS PUT IT IN THE MEDIAN. AND SO AS ALL THOSE ROADS AND RANCH RESIDENTS THAT WANT TO SPEND THEIR MONEY IN NORTH LAKE COME RIGHT BY THERE AND NO KNOW WHERE THEY'RE GOING TO SPEND THEIR MONEY, AND THAT WOULD BE THE COLUMN STYLE, THE SMALLER FORMAT. THE BENEFIT OF THIS IS THE MEDIANS ARE IT'S OUR RIGHT OF WAY. WE'RE ALLOWED TO PUT THAT SIGN IN THERE. THERE IS ELECTRICITY. WE JUST HAVE TO RUN IT UNDER THE ROAD.
THAT SHOULDN'T BE A DIFFICULT AND MAYBE A SMALL WATER LINE. SO THIS WAS PROBABLY THE CLOSEST. IT WOULD BE THE SMALLEST, BUT. SO THEY'RE KIND OF THERE'S WHERE WE'RE AT ON YOUR REQUEST THAT WE PRIORITIZE THESE. YOU KNOW I KNOW THERE'S SOME QUESTIONS ABOUT DOING ALL SIX AND THE AMOUNTS. BUT WE'RE KIND OF TAKING AS THEY GET CLOSE, AS THEY BECOME AVAILABLE.
WE'RE WORKING WITH THE PROPERTY OWNERS TO GET THE EASEMENTS OR PUT THEM IN RIGHT OF WAY. AND
[00:15:04]
OF COURSE, WATER AND ELECTRICITY IS A IS A CHALLENGE. SO ANY ANY QUESTIONS ON LIGHTING SIDE. DID YOU NEED ANY RECOMMENDATION OR ANYTHING FROM US. IF YOU. YES. IF YOU SAY MOVE FORWARD THIS LOOKS GOOD. OR IF YOU IF THERE'S A SIGN YOU WANT TO WAIT ON, OR IF YOU WANT TO GO BACK TO THE ORIGINAL LIST, ARE WE ARE WE DOING YOUR WILL? ARE WE HEADING IN THE RIGHT DIRECTION WITH THIS? I THINK WE'VE TALKED TO A GROUP THAT WAS WITH THOSE PARTICULAR SITES.I THINK WE'VE ALREADY TALKED ABOUT. WE'VE BEEN WORKING WITH WITH ALL THE PROPERTY OWNERS.
THE NUMBER FIVE, JUST BECAUSE OF ALL THE GAS LINES UNDER THERE. THAT WAS A I WAS KIND OF A SITUATIONAL ISSUE. BUT YES, WE'VE BEEN WORKING WITH WITH ALL THESE PROPERTY OWNERS FOR ONE, THREE AND FIVE. HOW FAR BACK FROM ROBERSON RANCH ROAD, GIBBS IS THAT GOING TO BE LOCATED? OH WHAT'S THAT? FOUR LANES, PROBABLY 1248, MAYBE 50FT. 50 60FT. I THINK WE WANT IT. THERE'S A SIDEWALK HERE. WE DON'T WANT IT TOO CLOSE TO THE INTERSECTION. YOU KNOW, WE COULD WE COULD MOVE IT UP A LITTLE BIT, BUT I THINK THERE'S A LIGHT POLE HERE, SO. BUT THERE'S NO THERE'S NO ENTRANCE UNTIL FURTHER DOWN. SO THEY'RE GOING TO SEE THAT. SEE THAT SIGN. SO BUT I'D SAY 50 60FT FROM. SO IT WOULDN'T REALLY BE VISIBLE IF YOU WERE HEADING IN EITHER DIRECTION ON ROBINSON RANCH. YOU HAVE TO. YEAH. YOU'RE PROBABLY GOING TO NEED TO ENTER THE TOWN. BUT THIS IS THIS IS THE MAIN ENTRANCE FROM FROM THE NORTH. LET'S SEE. YEAH.
WE YOU KNOW, AND I THINK WHEN COUNCIL WAS GOING THROUGH THE MONUMENT, WE I MEAN, WE LOOKED AT MAYBE TEN DIFFERENT AND IT WAS TRYING TO BALANCE, YOU KNOW, A A PROPER AMOUNT NOT OVERDOING IT KIND OF HITTING THE, THE BEST SPOTS. THE CHALLENGE WITH NUMBER SIX IT IS AN ENTRANCE BUT THERE'S NO THERE'S NO WATER AND SEWER OUT THERE. AND THEN THAT ROAD WILL PROBABLY IT WILL BE A SMALLER ROAD. IT WON'T BE THE MAIN ROAD. TWO STILL IS A DEVELOPMENT DOWN THERE, BUT THAT MAY BE ONE TO GET. AND THEN. FOUR ON 1171. THERE'S SOME CHALLENGE WITH TOPOGRAPHY.
BUT YEAH. AND WE CAN WE CAN ALWAYS ADD MORE AS WE GROW AND AS DIFFERENT KIND OF AREAS DEVELOP AND WE DISCOVER NEW TRAFFIC PATTERNS. WE'LL FOLLOW. WHAT YOU WHAT YOU WOULD LIKE TO SEE THROUGH THE ONE ON 114. DID YOU YOU MIGHT HAVE MENTIONED THIS, BUT. THE CHECK FOR LINE OF SIGHT FROM 114 SINCE THAT FRONTAGE ROAD IS LOWER, WILL THE SIGN BE VISIBLE FROM 114? YES, YES. SO THE THE YOU DON'T START GOING UP UNTIL YOU'RE AROUND HERE. SO 114 WILL BE PRETTY MUCH AT GRADE IN THIS AREA. SO YOU'LL BE ABLE TO SEE IT. NOW YOU'RE GOING TO BE TRAVELING. ULTIMATELY WHEN IT CUTS THROUGH YOU'LL BE TRAVELING. RIGHT NOW YOU'RE STOPPED. BUT ULTIMATELY AND THIS IS AN OLD AERIAL, BUT YOU'LL BE TRAVELING 60, 70 MILES AN HOUR. WE'RE REALLY WANTING. SO PEOPLE WILL EXIT OFF LITSEY AND APPROACH NORTH LAKE. THIS WILL BE THE MAIN ENTRANCE, SO WE WANT THEM TO KNOW THEY'RE HERE. WE'RE NOT TRYING TO GET PEOPLE TO SAY, OH, THERE'S NO LIKE, YOU KNOW, EXIT. IT'S MORE AS YOU AS YOU COME IN TO, TO A CONFERENCE AT THE CAMBRIA OR YOU GO TO THE STAR CENTER FOR YOUR TOURNAMENT, YOU'RE LIKE, OKAY, I'M IN NORTH LAKE. IT'S MORE ABOUT IDENTIFYING OURSELVES AND LETTING PEOPLE KNOW THAT THEY'RE NOW IN NORTHLAND. I DON'T THINK ANY OTHER QUESTIONS OR CONCERNS WE HEADED IN THE RIGHT DIRECTION. YEAH, OKAY. EDC AGREES. ALL RIGHT. THANK YOU. APPRECIATE THE INPUT. GREAT QUESTIONS. YEAH CDC AGREES OKAY. NEXT UP ITEM THREE PUBLIC INPUT ITEM IS AVAILABLE FOR CITIZENS TO ADDRESS THE BOARD ON ANY MATTER. DOES ANYONE WISH TO SPEAK OKAY. GOOD. ALL RIGHT, ALL RIGHT, WE'LL MOVE ON TO ITEM FOUR. ACTION
[4.A. Consider approval of minutes for the September 18, 2025 Joint Meeting]
[00:20:02]
ITEM ITEM A CONSIDER APPROVAL OF MINUTES FOR THE SEPTEMBER 18TH, 2025 JOINT MEETING. DO I[4.A. VOTE]
HAVE SOMEBODY WANTS TO MAKE A MOTION TO APPROVE THE MINUTES. PAUL, ON THE MOTION. THE MOTION.OKAY. DO I HAVE A SECOND? STACY? SECONDS. ALL IN FAVOR? ANY OPPOSED? MOTION PASSES. MINUTES APPROVED. CAN I GET A MOTION TO APPROVE THE MINUTES? YEAH. I'LL SECOND. I'LL MAKE A MOTION TO APPROVE SEPTEMBER 1830. MINUTES. JAMES. TOM. SECONDS. MOTION. ALL IN FAVOR? ALL RIGHT. OKAY.
[4.B. Consider approval authorizing the Town Manager to execute an amendment to the Chapter 380 agreement with Northlake Innkeepers I, Ltd.]
ITEM B, CONSIDER APPROVAL AUTHORIZING THE TOWN MANAGER TO EXECUTE AN AMENDMENT TO THE CHAPTER 380 AGREEMENT WITH NORTHWOODS INNKEEPERS ONE LIMITED. THANK YOU.CHAIRPERSONS. SO AS MENTIONED IN THE FINANCIAL REPORT, THE TOWN AND THE BOARDS ENTERED INTO ECONOMIC DEVELOPMENT AGREEMENT IN MARCH 10TH, 2022. AND OUR CRYSTAL BALL WAS A LITTLE CLOUDY. THE GRANT WAS FOR 250,000. AS I MENTIONED EARLIER, THE COUNCIL AND THE BOARD'S DESIRE TO RESTAURANT IN THE CAMBRIA, AS YOU KNOW, RESTAURANTS WITH A LOT OF EQUIPMENT, ESPECIALLY FIRE CONTROL, VERY, VERY COSTLY. SO EACH OF YOU ALL PLEDGED AND WE BUDGETED FOR 125,000 EACH. THE HOPE WAS THAT WOULD BE SUBSTANTIALLY COMPLETE AT THE END OF 2024. AND THAT'S WHEN THE AGREEMENT. AND WE THOUGHT WE HAD PLENTY OF TIME THEN. BUT IN FACT, THE CEO WASN'T ISSUED. THE CERTIFICATE OF OCCUPANCY WASN'T ISSUED UNTIL NOVEMBER 4TH JUST A FEW WEEKS AGO. SO THIS AMENDMENT EXTENDS THE AGREEMENT TO NOVEMBER 4TH, WHICH THEN WOULD ALLOW US TO. PROVIDE THAT GRANT, AS WAS PART OF THE NEGOTIATIONS AND PART OF THE ORIGINAL AGREEMENT. AND COUNCIL HAS APPROVED THE EXTENSION OF THE AGREEMENT AT THEIR MEETING ON NOVEMBER 13TH. I'D BE GLAD TO ANSWER ANY QUESTIONS. QUESTIONS. OKAY. SO IS THAT A RESTAURANT THAT THE HOTEL OWNS, OR IS THAT A SEPARATE RESTAURANT THAT'S IN THERE? IT'S THE HOTEL'S RESTAURANT, AND THEY ALSO THEY THEY PROVIDE ROOM SERVICE AND AND THEY CAN CATER EVENTS AT OUR CONFERENCE CENTER. THEY'RE GOING TO IT'S OUR CONFERENCE CENTER, BUT THEY'RE GOING TO MANAGE IT FOR US. AND THEY'RE THEY'RE SEPARATE PROPERTIES BUT THEY'RE CO-LOCATED. AND SO THEY'RE IT'S TO THE TO THE CASUAL OBSERVER, IT LOOKS LIKE ONE BIG ONE BUILDING. AND SO BUT YOU ALSO HAVE. WARMING AREA IF YOU WANT TO BRING IN AN OUTSIDE CATERER. SO YOU HAVE THAT OPTION. YOU CAN EITHER USE THEM AND THERE'S NOT A THERE'S A, THERE'S A KIND OF A MINOR KITCHEN CHARGE TO HELP THEM COVER COSTS OF ELECTRICITY AND STUFF LIKE THAT. BUT YEAH, THIS WILL BE A RESTAURANT THAT THE PUBLIC WILL WELCOME TO COME TO CASUAL DINING RESTAURANT. COMES YOUR QUESTION. DALE? YES, SIR. NO ADDITIONAL FUNDS JUST TO DATE. YES, SIR. YES, SIR. IT'S ALL BEEN BUDGETED AND PLANNED. ANY OTHER THOUGHTS? QUESTIONS?
[4.B. VOTE]
COMMENTS? THANK YOU. JUST MAKE A MOTION TO. YES, MA'AM. TO TO EXECUTE THE AMENDMENT AND EXTEND THE EXTEND THE AGREEMENT DEADLINE TO NOVEMBER 4TH, 2025. MAKE A MOTION TO EXECUTE AN AMENDMENT TO THE CHAPTER THREE AGREEMENT OR LIKE TO TAKE QUESTION. NOVEMBER 4TH. I THINK I CHANGED THE SLIDE ON ME. YEAH. SECOND. THE MOTION AND STACY SECONDS. ALL IN FAVOR? AYE. ANY OPPOSED? OKAY. MOTION PASSES FOR EDC. I MAKE A MOTION THAT THE THIS AMENDMENT BE APPROVED TO EXTEND THE CONTRACT DURATION BETWEEN FOURTH OF 2025. SECOND. ALL IN FAVOR? AYE. PASSES[4.C. Consider approval authorizing the Town Manager to execute an Economic Development Agreement with Northlake 156 & 114, LP]
MOTION. ITEM C, CONSIDER APPROVAL AUTHORIZING THE TOWN MANAGER TO EXECUTE AN ECONOMIC[00:25:10]
DEVELOPMENT AGREEMENT WITH 156 AND ONE 1450. SO, BOARD MEMBERS, YOU HAVE TWO TONIGHT. AND I WANT TO HIGHLIGHT THE DIFFERENCES BETWEEN THE TWO. THE FIRST ONE IS THE OFFICIAL HOLDING COMPANY OR THE LIMITED LIABILITY PARTNERSHIP IS NORTH LAKE. 156 114 HERE'S WHERE IT'S LOCATED. CAN YOU KIND OF SEE THE EDGE OF THE TEXAS MOTOR SPEEDWAY THERE? 35 IS OFF SCREEN OVER HERE. THIS IS 156 AND THE BNSF RAILROAD OKAY. THIS IS A WAREHOUSE DEVELOPMENT.THE PROPOSED DEVELOPMENT WILL BUILD APPROXIMATELY ONE POINT 5,000,000FTā !S OF WAREHOUSE SPA.
THERE'S THE TAXABLE VALUE. BY 2055, IT'LL BE 250 MILLION. WE'VE ENTERED A DEVELOPMENT AGREEMENT WITH THE DEVELOPER, THE OWNER, AND THE ONLY PORTION THAT WE'RE THAT WE'RE LOOKING TO THE BOARD'S IS A CONSTRUCTION SALES TAX OF YOUR EDC, CD SALES TAX, WHICH IS, REMEMBER, THREE, THREE FOURTHS. IT'S 3/8 AND 3/8. IT WILL BE THEIR RESPONSIBILITY TO LOCATE THE TAX SITUS IN NORTH LAKE. ONLY. IF THEY DO THAT WILL THEY GET THAT REIMBURSEMENT. THE THE OTHER CENT GOES TO THE GENERAL FUND TO HELP US WITH OPERATIONAL COSTS. AND THEN THE REMAINING QUARTER CENT WILL GO TO HELP WITH THE STAR CENTER PROJECT. HERE IS. A CONCEPT PLAN. AND YOU KNOW THESE ARE EARLY ON, BUT THIS IS HOW THEY HOPE TO MAXIMIZE THE PROPERTY.
THIS THE REASON THIS IS DIFFERENT IS THEY HAVE CREATED A FRESHWATER SUPPLY DISTRICT.
SO THEY'RE GOING TO HAVE ADDITIONAL TAXES ON THEMSELVES TO HELP FUND THE INFRASTRUCTURE.
THEY WILL DEDICATE 3 TO 5 ACRES TO THE TOWN. WE NEED A SECOND POINT OF DELIVERY OVER ON THIS.
ON THIS FAR WEST SIDE OF NORTH LAKE, THEY'VE ANNEXED IN NOW, AT THIS SECOND POINT OF DELIVERY, FORT WORTH WILL DELIVER WHOLESALE WATER. THERE'LL BE A PUMP STATION. AND INITIALLY ONE 1 MILLION GALLON STORAGE GROUND STORAGE TANK. ULTIMATELY TWO 1 MILLION GROUND.
1 MILLION, TWO 1 MILLION GALLON GROUND STORAGE TANKS. AND THEN THAT PUMP WILL PUMP WATER THROUGH OUR SYSTEM UP TO A IT'S KIND OF ABOVE THIS MAP, BUT A ELEVATED WATER STORAGE TANK THAT IS CURRENTLY UNDER CONSTRUCTION. SO THIS IS ALL KIND OF PART OF THE THE DEVELOPMENT PLAN DOWN THERE. SO BEFORE THE BOARDS ARE JUST. ALLOW ALLOW ME TO EXECUTE THAT DEVELOPMENT AGREEMENT. AND THE ONLY PORTION AGAIN THAT THE BOARDS ARE ARE CONSIDERING IS THAT CONSTRUCTION SALES TAX FOR THEM. AND AGAIN THEY HAVE TO GO THROUGH THE STEPS AND THEY HAVE TO PROVE THAT THE SITES IN NORTH LAKE. ANY QUESTIONS. ONE QUESTION. THE PERIOD FOR THIS AGREEMENT, OR AT LEAST FOR THE SALES TAX PORTION OF THE AGREEMENT THAT WE WOULD BE LOOKING AT, IS THAT JUST THROUGH THE CONSTRUCTION PHASE, OR DOES IT EXTEND BEYOND JUST THROUGH THE CONSTRUCTION PHASE? IT'LL ONLY BE CONSTRUCTION MATERIAL, CONSTRUCTION MATERIALS. AND SO IT SHOULD HAPPEN VERY EARLY IN THE CONSTRUCTION TIMELINE. IN THE PAST, NATHAN HAS SAID IT'S REALLY HARD TO GET THEM TO DO THE SITES IN NORTH LAKE, BUT IN THIS CASE, THERE'S ACTUALLY AN INCENTIVE FOR THEM TO GO DO THAT BECAUSE THEN THEY GET REIMBURSED. YEP. SO. SO THE SITES IS CAN BE IN THE STATE OF TEXAS, CAN BE DETERMINED IN A NUMBER OF WAYS. IT CAN BE DETERMINED AT YOUR HEADQUARTERS. IT COULD BE DETERMINED WHERE THE MATERIALS ORIGIN IS, OR IT CAN BE DETERMINED WHERE THE MATERIALS ARE DELIVERED. SO THEY HAVE THAT CHOICE. IF IT'S AT YOUR HEADQUARTERS, IT KIND OF ALREADY EXISTS, AND IT'S EASY, BUT IT IS DIFFICULT. WE'VE HAD TWO NOW THAT HAVE BEEN ABLE TO DO THAT, AND IT IS EXTRA WORK ON THEM TO DO THAT. THEY WOULD HAVE TO. SO THEY'RE GOING TO HAVE TO PAY THE TAX ANYWAY. BUT WE'D LIKE IT TO STAY HERE AND TO ENTICE THEM TO KEEP IT HERE. WE'RE GOING TO
[00:30:07]
GIVE THEM BACK YOUR PART OF THAT SALES TAX SO THAT THE GENERAL FUND GETS THE FULL BENEFIT OF THAT SALES TAX. OTHERWISE IT GOES TO WHEREVER THE HEADQUARTERS IS, YOU KNOW, AMARILLO OR BEAUMONT OR WHEREVER. DID IT. YES, YES. YES, MA'AM. NO. SO IT'S BASICALLY A WIN WIN. QUESTION, PLEASE. THREE. YOU GOT YOU GOOD. OKAY. THOUGHT YOU HAD A QUESTION.[4.C. VOTE]
OKAY. ALL RIGHT. SO WE NEED TO MAKE A MOTION TO APPROVE. TOWN MANAGER TO EXECUTE THE ECONOMIC DEVELOPMENT AND MOVE FORWARD. TEAM. YEAH. I MAKE A MOTION TO APPROVE. PETER MAKES THE MOTION.I'LL SECOND. ALL IN FAVOR. ANY OPPOSED? MOTION PASSES. I GET A MOTION FROM CDC MOTION. SECOND.
ALL THIRD I. AND WE'LL MOVE ON TO ITEM D. CONSIDER APPROVAL AUTHORIZING THE TOWN MANAGER TO
[4.D. Consider approval authorizing the Town Manager to execute an Economic Development Agreement with Denton Cross Timbers Partners, LLC]
EXECUTE AN ECONOMIC DEVELOPMENT AGREEMENT WITH DENTON CROSS TIMBERS PARTNERS, LLC. OKAY, THIS THIS ONE IS DIFFERENT. THIS DOES NOT HAVE THE DISTRICT WITH IT TO HELP WITH SOME OF THOSE INFRASTRUCTURE COSTS. OH, IN THE PREVIOUS ONE WAS ACTUALLY PART OF THE TOURS AS WELL. THAT HAS AN ADDITIONAL THEY TAKE HALF OF THE PROPERTY TAX AND USE THAT TO REIMBURSE FOR FOR THAT. THIS IS A THIS IS A CRUCIAL DEVELOPMENT BECAUSE WHAT THIS WILL DO IS THIS WILL HELP US GET SEWER UP TO A FURTHER RETAIL AREA. SO IT'S PART OF BUILDING THAT CHAIN OF INFRASTRUCTURE UP TO 1171 AND 35 KIND OF OUR, OUR, YOU KNOW, OUR POWER CORNER. THIS IS THOSE THAT'S THE INTERSECTION WE CONTROL ALL THREE OF THE FOUR, BUT ULTIMATELY ALL FOUR CORNERS.SO THEY'RE THE PART THAT EDC AND WE'VE WE'VE TALKED ABOUT THIS BEFORE WOULD BE A THE CONSTRUCTION SALES TAX REIMBURSEMENT JUST LIKE THE PREVIOUS ONE. BUT AN ADDITIONAL MILLION DOLLARS FOR PUBLIC PARTICIPATION BECAUSE THAT'S A THAT'S A LONG STRETCH TO GET SEWER TO THIS AREA. BUT AND IT GOES IT GOES ACROSS DENTON CREEK. HERE IS THE BUILDING.
THEY HAVE RECENTLY UPDATED THEIR SITE PLAN. I BELIEVE COUNCIL APPROVED THIS AT THEIR THEIR MEETING LAST WEEK. AND SO IT'S ONE AND A 1.5 MILLION SQUARE FEET OF PROPOSED WAREHOUSE SPACE. SO HERE HERE'S KIND OF HOW IT LAYS OUT. SO THIS IS SOUTH OF 1171. EAST OF 35 W. THESE ARE THE TWO BUILDINGS IN THE CONCEPT PLAN. REMEMBER THESE ARE CONCEPT PLANS. THINGS CHANGE ALL THE TIME. HERE IS THE THE RED IS THE SEWER LINE. AND WHAT'S NOT SHOWN ON THE MAP IS GETTING THAT ALL THE WAY DOWN TO DALE EARNHARDT, WHERE THE TREE LINE WILL BE COMING UP. SO THAT OPENS UP THAT AREA THERE. IT ALSO THIS AGREEMENT WILL BRING WATER ALL THE WAY TO 35. RIGHT NOW IT'S IT'S ONLY 1171. AND THEN SO THIS IS REALLY KIND OF MILITARY TERMS. THIS IS KIND OF THE BEACHHEAD WHERE WE'RE GETTING THAT INFRASTRUCTURE NOW ACROSS 35 AND OPENING THIS AREA. AND SO THESE ARE SOME VERY EARLY CONCEPT PLANS OF SOME OF THE DEVELOP THAT WOULD DEVELOPMENT THAT WOULD FOLLOW. AND IN, IN THE COUNCIL'S COMPREHENSIVE LAND USE PLAN, THIS WAS ALWAYS PLANNED TO BE INDUSTRIAL. WE'VE GOT THIS AIRPORT THAT'S ALREADY, YOU KNOW, NUMBER OF SHOPS AND A LOT OF DIFFERENT ACTIVITIES. SO THIS THESE KIND OF USES WOULD WRAP AROUND THE AIRPORT. AND YOU KNOW WE DON'T BECAUSE OF THIS CREEK AND BECAUSE OF THE LAYOUT, WE DON'T INTERFERE WITH THE RUNWAY ON SOME OF THIS. SO WE'RE WORKING WORKING AROUND ALL THAT. AND THEN THIS IS THE MAP ABOVE 1171. AND HERE'S THE BIG THE BIG DEVELOPMENT, THE RETAIL DEVELOPMENT WE'RE HOPING TO GET. AND THEN WATER EXISTS HERE. BUT IT'S GOT TO GO DOWN. AND THEN THIS THIS HELPS BRING THAT SEWER THAT UNLOCKS THIS CORNER. SO CAN YOU GO BACK TO THAT PLEASE. SO THE BLUE LINE ON THE BOTTOM THAT'S 1171 RIGHT
[00:35:05]
THERE WHERE YOU GOT YOUR. YES. OKAY. AND THEN THE BLUE LINE COMING DOWN FROM LIKE TOP TO BOTTOM OR NORTH TO SOUTH. THAT'S. YEAH. CLEVELAND GIBBS OKAY. AND THIS IS CANYON FALLS.YEAH. AND THIS IS THE NEW THE LAST PHASE OF CANYON FALLS HERE. YEAH. AND SO TO GET THAT LEVEL OF DETAIL THIS WE COULDN'T GET THEM REALLY ON BOTH. SO THIS IS A SOUTHERN PART OF IT. THIS IS GETTING SEWER UP THIS DIRECTION. AND JUST KIND OF THAT THAT MARCH TO GET THESE CONNECTED UP TO THERE. LIKE THE BIG BOX STORES THERE. AREA. OKAY. YEAH. THIS IS DEFINITELY AN ENABLER TO OUR RETAIL RECRUITMENT STRATEGY FOR THE MID TOWN AREA. SO THAT'S KIND OF EXCITING. SO RIGHT ABOVE THAT WHERE THE RETAIL AREA JUST ABOVE THAT BLUE LINE GOING HORIZONTALLY IS THAT MULTI MULTIS UP HERE. YES. OH MONKEYS UP THERE OKAY. SO. WE WE BISECTED OR WE SPLIT CLEVELAND GIBBS CLEVELAND GIBBS WAS AN OLD COUNTRY ROAD THAT CONNECTED THE GIBBS FAMILY TO THE NORTH, TO THE CLEVELAND FAMILY IN THE SOUTH. AND TO MAXIMIZE OUR FRONTAGE ON 35, WE WE ARE GOING TO HAVE GIBBS PARALLEL SO WE CAN HAVE COMMERCIAL HERE ON THE FREEWAY AND GIVE PEOPLE THE ABILITY TO KIND OF MOVE AROUND. AND OH, I FORGOT, I GOT TO GET MY WIFE A CHRISTMAS PRESENT. I BETTER BACK UP AND COME BACK AROUND BECAUSE THIS FRONTAGE ROAD IS GOING TO BE ONE WAY GOING SOUTH AND COULDN'T QUITE DO IT HERE WITH THE PROPERTY OWNERSHIP.
BUT WE'RE WE'RE GETTING PRETTY CLOSE TO GET A BACKER ROAD TO. AND THEN IT'S JUST IF THERE'S LIKE WHAT WHAT MORNING WAS IT WAS WEDNESDAY MORNING WHEN THERE WAS A WRECK. IT DIDN'T CREAK. AND 35 NORTHBOUND AND THERE'S NOWHERE TO GO. THERE'S NO FRONTAGE ROADS. THERE'S NO BACK ROADS. SO IT JUST HELPS WITH CIRCULATION. AND IF YOU WANT TO IF YOU WANT TO GO SHOPPING AND YOU DON'T WANT TO GET ON THE FREEWAY, WE'VE GOT WAYS TO DO THAT. SO THAT'S WHY WE'VE WE'VE KIND OF SPLIT THAT ROAD. AND SO IF YOU WANT TO GET ALL THE WAY SOUTH, YOU'LL JUST HAVE TO CUT ACROSS AND GET BACK DOWN. BUT YEAH, THAT'S GIBBS ON THE WEST AND CLEVELAND GIBBS ON THE EAST. SO DREW, IT LOOKS LIKE SOME OF THESE LINES ARE BEING UPGRADED OR UPSIZED, AND SO DO I INFER FROM THAT THAT THERE IS SOME CAPACITY BEING INSTALLED NOW FOR SOME OF THESE FUTURE DEVELOPMENT? ABSOLUTELY. SO THAT'S PART OF THE THIS AGREEMENT IS THEY'RE GOING TO BUILD FOR THE ULTIMATE. THEY THEY DON'T THEY DON'T NEED IT. WE NEED IT. SO THAT'S WHY WE'RE PARTNERING WITH THEM. THERE'S A THERE'S A LEGAL CONCEPT CALLED ROUGH PROPORTIONALITY WHERE YOU CAN'T PUT MORE ON THEM THAN WHAT THEY NEED FOR THEIR DEVELOPMENT. IT'S NOT FAIR. AND SO THEY TYPICALLY WIN IN COURT. SO WHAT WE'LL DO IS WE'LL ASK THEM TO OVERSIZE THAT LINE FOR ULTIMATE CAPACITY. AND IT'S REALLY PENNIES ON THE DOLLAR, MAYBE NICKELS ON THE DOLLAR BECAUSE YOU STILL GOT TO BUILD THE TRENCH. WHETHER IT'S AN EIGHT INCH LINE. IN THIS CASE IT'S GOING TO BE EXPANDED TO A 21 INCH LINE. BUT YES, WATER SEWER. WE ALWAYS WE ALWAYS ATTEMPT TO BUILD TO ULTIMATE. AND YES, BECAUSE THIS IS COMING ACROSS, WE DON'T WANT TO BUILD A SMALL LINE AND BE STUCK WITH NOWHERE TO PUT THE REST OF THIS. SO THAT'S A GREAT QUESTION. I THINK THAT'S GREAT FORESIGHT TO BE PREPARING FOR THAT. STANDS FOR. SO THAT'S WHAT THAT LINE IS. THAT'S WHY. THERE ISN'T A FLOWER MOUND DOING SOME DEVELOPMENT NORTH OF. CANYON FALLS. YES, RIGHT OFF OF CLEVELAND AGAIN, KIND OF PAST THE CREEK. THIS IS A MAJOR DEVELOPMENT THEY'RE GOING TO DO AT. SO DENTON CREEK BOULEVARD GOES THROUGH CANYON FALLS. AND WE'LL T INTO 35 W OFF THE MAP HERE. ARE THEY PROVIDING WATER AND SEWER FOR THEMSELVES? RIGHT.
FLOWER MOUND HAS ITS OWN WATER AND SEWER SYSTEM. JUST LIKE WE'RE RESPONSIBLE THAT THEY HAVE TO CARRY THEIR OWN WEIGHT. WEIRD MAP. DRAWING OF FLOWER MOUND GOES EVERYWHERE. YES. SO
[00:40:12]
THIS AUTHORIZED ME TO NEGOTIATE AND PARTICIPATE. 1 MILLION FOR PUBLIC INFRASTRUCTURE. KIND OF TO TO INCENTIVIZE THIS TO MOVE THIS FORWARD. AND OF COURSE THE CONSTRUCTION SALES TAX LIKE THE PREVIOUS LIKE THE PREVIOUS AGREEMENT AGAIN THEY AS LAURA MENTIONED, THEY THEY NEED TO FIGURE OUT HOW TO GET THE SITUS THERE. IT'S INCUMBENT UPON THEM TO DO THAT. THE THE PUBLIC INFRASTRUCTURE PARTICIPATION WON'T BE PAID UNTIL THEY'VE COMPLETED THE PROJECT. IT'S BEEN ACCEPTED. WE AGREE. YOU KNOW, WE'VE APPROVED IT TO MEET ALL OUR REQUIREMENTS. IT'LL BE A REIMBURSEMENT AFTER AFTER THE FACT. SO WE WON'T RELEASE YOUR MONEY UNTIL WE'VE GOT THAT ASSET. ANY OTHER QUESTIONS OR FEEDBACK? THOUGHTS? JUST A RANDOM QUESTION ABOUT HOW LONG.WHAT'S THE TIMING ON ALL THAT? JUST BALLPARK. WHICH PART? WELL, LIKE ONCE IF WE APPROVE THIS TODAY, THEN LET'S SAY YOU NEGOTIATE SUCCESSFULLY. THEY START. SO THE TIMING IS ALL BASED ON THE HTRA. AS LAUREN MENTIONED, THE TRINITY RIVER AUTHORITY, THE REGIONAL SEWER LINE, AND THAT IS TO BE COMPLETE AT THE END OF 2026. THE THIS DEVELOPMENT, THIS DEVELOPER WANTS TO TIME EVERYTHING TO EXACTLY THAT DATE. SO THEY WANT THEIR LINE TO BE READY RIGHT WHEN TARA IS LINE. SO I WOULD SEE THEY'RE PROBABLY NOT GOING TO DO MUCH UNTIL THAT SEWER IS COMMITTED. BUT YOU COULD SEE MAYBE LATE 2026, MORE LIKELY EARLY 2027 SOME DEVELOPMENT BECAUSE YOU KNOW, THEY'RE TAKING DOWN THIS LAND, THEY'VE GOT INTEREST ON THAT LOAN. AND SO THEY'RE USUALLY READY TO GO. ONCE THEY INK THE DEAL. THEY RIGHT NOW WE'RE IT'S IT'S ENTITLEMENT PHASE. AND THEY'RE MAKING SURE THEY HAVE THE ZONING AND ALL THE INFRASTRUCTURE IS IS THERE. THIS WILL BE A BIG PART OF KIND OF CLOSING THAT GAP. HOWEVER.
JAMES, DID YOU DID YOU HAVE A QUESTION EARLIER? OH, I JUST WANTED TO MAKE SURE THAT WE WERE TALKING ABOUT SPLITTING IT EVENLY. 500,000, 500,000 SPECIFIED RIGHT THERE AND THEN I WAS LOOKING AT OUR BUDGET. I SEE CDC, BUT I DON'T SEE EDC. SO IS THAT WE'RE JUST LOOKING AT CDC SIDE ON THIS PACKAGE. CORRECT. IT'S 1,000,005 AND FIVE. YES, SIR. YES, SIR. SO SO FAR THE THE WILL OF THE BOARDS HAVE BEEN TO SPLIT EVERYTHING 5050. ANYTHING ELSE? Y'ALL OKAY? NOT SURE HOW WE WANT TO WORD IT. YOU SURE? THE MOTION WORDING. RIGHT. OKAY. IT JUST NEEDS TO.
[4.D. VOTE]
WHEN WE MAKE A MOTION, IF YOU JUST WANT IT TO SAY THAT, NOT THE DETAILS. YEAH. OKAY. ALL RIGHT. WELL, I'LL MAKE A MOTION TO APPROVE THE TOWN MANAGER TO EXECUTE AN ECONOMIC DEVELOPMENT AGREEMENT WITH DENTON CROSS TIMBERS PARTNERS, LLC. DO I HAVE A SECOND? OKAY, PETER.SECONDS. ALL IN FAVOR? ANY. ANY OPPOSED? NONE. OKAY. MOTION PASSES FOR EDC. SOMEONE TO MAKE A MOTION? YEAH, I'LL MAKE A MOTION TO APPROVE. AUTHORIZING THE TOWN MANAGER TO EXECUTE AN ECONOMIC DEVELOPMENT AGREEMENT WITH DENTON CROSS TIMBERS PARTNERS, LLC. I'LL SECOND THAT.
ALL IN FAVOR? AYE. MOTION PASSES. THANK YOU. ALL RIGHT, C CAN CAN YOU TAKE US OFFLINE? I'LL SHUT THE DOOR. SWAGGER. WE'RE GOING TO GO INTO EXECUTIVE SESSION. PLEASE MAKE SURE YOU HAVE THE STATIC SLIDE UP AND ALL CAMERAS AND SOUND OFF, WOULD YOU? SORRY. WOULD
[5. EXECUTIVE SESSION]
YOU MAKE YOUR MOTIONS TO GO TO YOUR POSITION? YES. CAN WE DO IT BY CONSENT? SURE, SURE. OKAY.I WILL MAKE A MOTION FOR EDC TO MOVE TO EXECUTIVE SESSION BY CONSENT. I'LL MAKE A MOTION FOR THE CDC TO MOVE INTO EXECUTIVE . OKAY. WE WILL RECONVENE INTO OPEN SESSION FOR EDC. AT A TIME.
[00:45:11]
AND 710 710 AND CDC WILL RECONVENE TO OPEN SESSION. THE FINAL ITEM ON OUR AGENDA IS ADJOURNMENT. SO EDC WILL ADJOURN BY CONSENT. CDC WILL ADJOURN BY CONSENT.* This transcript was compiled from uncorrected Closed Captioning.