[00:00:05] SORRY I'M BEING LATE. THANKS FOR WAITING. [A. Meeting Opening] WE WILL CALL THE ORR THE SACHSE ECONOMIC DEVELOPMENT CORPORATION BOARD FOR THE CITY OF SACHSE, OUR REGULAR MEETING THURSDAY, MAY 21ST, 2026 AT 6.10 P.M. TO CONSIDER THE FOLLOWING ITEMS OF BUSINESS. WE'LL BEGIN WITH THE INVOCATION AND PLEDGES. CAN WE ASK ANYBODY? ALL RIGHT. IF YOU'LL PLEASE RISE, I'LL LEAD US IN THE INVOCATION AND PLEDGES. OUR DEAR HEAVENLY FATHER, WE'RE GRATEFUL FOR THE OPPORTUNITY WE HAVE TO BE HERE TODAY TO DISCUSS THE AFFAIRS OF THE CITY OF SACHSE AND TO DO OUR BEST TO HELP GUIDE AND DIRECT THE DEVELOPMENT HERE IN SACHSE. WE ARE ASKED BY BLESSING OVER THE CITY, OVER OUR FIRST RESPONDERS, OVER OUR STAFF, OVER OUR CITIZENS. PLEASE BLESS US WITH SUCCESS AND WITH THE THINGS THAT WE STAND IN NEED OF. PLEASE HELP US. AND GUIDE US TODAY IN THE DECISIONS THAT WE MAKE AND THE DISCUSSIONS THAT WE HAVE. AND WE'RE GRATEFUL FOR THE WONDERFUL CITY AND COUNTRY THAT WE LIVE IN, THE OPPORTUNITIES AND THE FREEDOMS THAT WE ENJOY. AND PLEASE BLESS US THAT WE'LL REMEMBER THAT AND NOT TAKE THAT FOR GRANTED EVERY DAY OF OUR LIVES AND RECOGNIZE HOW TRULY BLESSED WE ARE. AND THESE THINGS WE GIVE YOU THANKS FOR AND ASK YOU FOR AND DO SO. IN THE NAME OF JESUS CHRIST, AMEN. IF YOU'LL JOIN ME IN THE PLEDGE OF ALLEGIANCE. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA. AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION, UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL. TEXAS FLAG. HONOR THE TEXAS FLAG. I PLEDGE ALLEGIANCE TO THEE, TEXAS, ONE STATE, UNDER GOD, ONE AND INDIVISIBLE. WE'LL MOVE TO ITEM B, PUBLIC COMMENT. THE PUBLIC IS INVITED TO ADDRESS THE BOARD REGARDING ANY TOPIC NOT ALREADY ON THE AGENDA FOR ACTION OR PUBLIC HEARING. COMMENTS REGARDING THE CONSENT AGENDA OR ANY DISCUSSION ON THE ITEMS ON THE AGENDA SHALL BE ADDRESSED DURING THIS PUBLIC COMMENT SECTION. THE TIME LIMIT IS THREE MINUTES PER SPEAKER. A PUBLIC COMMENT CARD SHALL BE PRESENTED TO THE ACTING SECRETARY PRIOR TO THE MEETING. ACCORDING TO THE TEXAS OPEN MEETINGS ACT, THE BOARD IS PROHIBITED FROM DISCUSSING ANY ITEM NOT POSTED ON THE AGENDA BUT WILL TAKE COMMENTS UNDER ADVISEMENT. I DO HAVE, I SEE ONE COMMENT CARD HERE FROM MR. MARTY HOBOAK. WOULD YOU LIKE TO COME? YOU GOOD? ANY OTHERS WE'RE AWARE OF? [C. Consent Agenda] ALL RIGHT, WE'LL MOVE ON TO ITEM C, THE CONSENT AGENDA. CONSENT AGENDA ITEMS ARE ROUTINE OR ADMINISTRATIVE IN NATURE, HAVE BEEN DISCUSSED PREVIOUSLY AT A BOARD MEETING, AND OR DO NOT WARRANT DISCUSSION. THE BOARD WILL ACT UPON THESE ITEMS WITH ONE MOTION. THERE WILL BE NO SEPARATE DISCUSSION OF THESE ITEMS UNLESS A BOARD MEMBER REQUESTS THE ITEM BE REMOVED FROM THE CONSENT AGENDA. IF YOU HAVE COMMENTS RELATED TO THE ITEMS ON THE CONSENT AGENDA, PLEASE ADDRESS THEM IN THE PUBLIC COMMENTS SECTION OF THE MEETING. SO, ITEM C1 IS APPROVE THE APRIL 30, 2026 REGULAR MEETING MINUTES, AND ITEM C2, ACCEPT THE MONTHLY REVENUE EXPENDITURE REPORT FOR THE PERIOD ENDING MARCH 31, 2026. SO, I WILL... I MOTION TO APPROVE THE CONSENT AGENDA. ONE, APPROVE THE APRIL 30, 2026 REGULAR MEETING MINUTES, AND TWO, ACCEPT THE MONTHLY... REVENUE AND EXPENDITURE REPORT FOR THE PERIOD ENDED MARCH 31ST, 2026 AS IS. I HAVE A MOTION TO APPROVE AS IS. DO I HAVE A SECOND? I HAVE A SECOND. I HAVE A SECOND FROM ALAN. I GOT TO KEEP TRACK. SHE'S NEW AT THIS. ANY OTHER DISCUSSION OR QUESTIONS? ALL RIGHT. PLACE YOUR VOTE, PLEASE. AND THAT PASSES UNANIMOUSLY 6-0. [1. Receive any reports and presentations by the Sachse Economic Development Corporation President, Board Members, Executive Director, and staff regarding items of community interest; special events; announcements and activities; office, industrial, commercial, or retail business retention; and marketing projects.] DISCUSSION ITEMS ITEM D-1. THESE ITEMS FOR THE BOARD AND STAFF DISCUSS AS NEEDED. ITEM D-1. RECEIVE ANY REPORTS AND PRESENTATIONS BY THE SACS ECONOMIC DEVELOPMENT CORPORATION BOARD PRESIDENT, BOARD MEMBERS, EXECUTIVE DIRECTOR, AND STAFF REGARDING ITEMS OF COMMUNITY INTEREST, SPECIAL EVENTS, ANNOUNCEMENTS, AND ACTIVITIES REGARDING OFFICE, INDUSTRIAL, COMMERCIAL, OR RETAIL BUSINESS RETENTION AND MARKETING PROJECTS. SO, MR. POTTS, I'LL TURN THE TIME OVER TO YOU. MR. PRESIDENT, GOOD TO SEE EVERYBODY THIS EVENING. QUICK STAFF REPORT THIS EVENING. THE LOCAL BUSINESS GRANT PROGRAM, JUST A QUICK UPDATE, WE HAVE OUR SECOND APPROVED PROJECT THAT'S CURRENTLY IN THE PROCESS OF WORKING OUT THEIR SITE IMPROVEMENTS ACCORDING TO THEIR AGREED UPON PROJECT PROPOSALS. SO SACHSE PLAZA ON HIGHWAY 78 IS DOING A PROJECT. THEY'RE DOING SOME RESTRIPING, PAINTING, SOME DIFFERENT CONCRETE REPAIRS IN THERE. IN THEIR PROJECT AREAS AND LANDSCAPING AS WELL. [00:05:01] SO THAT'S OUR SECOND APPROVED LOCAL BUSINESS GRANT PROGRAM APPLICATION. THEY ARE IN... LIKE I SAID, THE PROCESS RIGHT NOW OF GETTING THAT WORK COMPLETED, SO WE'RE EXCITED TO SEE FOLKS TAKE ADVANTAGE OF THAT PROGRAM. TASTE OF SACC IS GOING ON RIGHT NOW THROUGH JUNE 1ST. WE'VE HAD A NUMBER OF FOLKS THAT HAVE MET THE FOUR CHECK-IN THRESHOLD TO QUALIFY FOR ONE OF THE WATER BOTTLES THAT WE'RE GIVING AWAY, KIND OF A PROMOTIONAL DEAL. WE'VE HAD A FEW PEOPLE TAG. US ON SOCIAL MEDIA AS WELL, IT'S BEEN COOL TO SEE THE FOLKS GET EXCITED AND I THINK WE'LL HAVE A NUMBER OF... WE'VE ALREADY HAD MORE PARTICIPATION THIS YEAR THAN LAST YEAR. I THINK THAT THE TWEAKS WE MADE GOING TO THE DIGITAL FORMAT I THINK WAS A GOOD MOVE, SO WE'RE EXCITED. FOLKS HAVE BEEN EXCITED ABOUT THAT. SUMMER NIGHTS CONCERT SERIES COMING UP AT JK SACHSE PARK ON JUNE 5TH. THE NEXT SACHSE FARMERS MARKET WILL BE JUNE 13TH. AND THEN OUR NEXT EDC BOARD MEETING WILL BE JUNE 25TH, SO A WEEK LATER THAN THE THIRD THURSDAY THAT IT WOULD NORMALLY BE. WE'LL HAVE A DISCUSSION ON FIFTH STREET THEN. AND THEN RELATIVE TO INTERVIEWS, WE, AS YOU ALL KNOW, DENISE HAS RESIGNED HER POSITION, IS NO LONGER WITH US, AND WE'VE, AS OF TODAY, STARTED INTERVIEWING FOR THE NEW ROLE ON OUR TEAM. SO WE'LL CONTINUE DOING THAT, KEEP YOU ALL UP TO DATE ON THAT PROCESS. SO THAT IS ALL I HAVE. I WAS AT THE SUMMER NIGHT CONCERT SERIES THIS PAST FRIDAY. OLDER CROWD THIS TIME. WHICH ONE? IT WAS THE BEATLES. IT WAS GOOD. IT WAS GOOD, BUT IT WAS AN OLDER CROWD. BUT IT WAS STILL GOOD. A LITTLE BIT OF RAIN IN THE MIDDLE OF IT. IT WAS GOOD. SO I DON'T REMEMBER. I THINK THIS IS CLASSIC ROCK COMING UP THIS NEXT WEEK, I THINK. THE ONE THAT'S, I THINK YOU'RE RIGHT, THE 80S BAND, AND THEN THERE'S LIKE A 90S BOY BAND COMING. SO LIKE MY GENERATION, THAT'LL BE GREAT. IT'S GREAT, SO THANK YOU VERY MUCH. [2. Discuss the Sachse Economic Development Corporation FY 2026-2027 Budget.] ALL RIGHT, WE'LL GO TO ITEM D2, EVERYBODY'S FAVORITE PART, DISCUSSION ON THE SACHS ECONOMIC DEVELOPMENT CORPORATION FISCAL YEAR 26-27 BUDGET. AND EVERYBODY SHOULD HAVE RECEIVED PACKETS AND SO FORTH EARLIER THIS WEEK. IT HAS ALL THE INFORMATION IN IT. MR. POTTS, I'LL TURN THAT TO YOU. YES, SIR. MR. PRESIDENT, THANK YOU. WE WILL WALK THROUGH OUR PROPOSED BUDGET THIS EVENING. WE'LL TALK IN TERMS OF THE OUTLINE FOR THIS PRESENTATION. WE'LL TALK THROUGH SOME RECENT ACCOMPLISHMENTS. WE'LL TALK ABOUT SALES TAX COLLECTIONS AND PROJECTIONS. AND WE'LL KIND OF GET INTO THE BUDGET ITSELF AND GET INTO NEXT STEPS, TALK ABOUT THE BUDGET CALENDAR, AND THEN CERTAINLY HAVE ANY... DISCUSSION AND ANSWER ANY QUESTIONS THAT YOU ALL MIGHT HAVE. THIS ISN'T AN ACTION ITEM, THE ACTION WILL TAKE PLACE AT OUR JUNE MEETING. SO JUST A DISCUSSION THIS EVENING. SO AGAIN WE WANT TO HIGHLIGHT YOU KNOW SOME OF THE RECENT ACCOMPLISHMENTS. AS YOU ALL KNOW OUR BUDGET AUTHORIZATION IS KIND OF WHAT ENABLES US TO DO A LOT OF THE THINGS THAT WE DO. SO WE HAD A BIG REALLY LAST YEAR IN TERMS OF PLANNING. THE ADOPTION OF THE COMPREHENSIVE PLAN AND THE ADOPTION OF OUR ECONOMIC DEVELOPMENT STRATEGIC PLAN, WHICH WE'RE IN THE PROCESS OF WORKING THROUGH IMPLEMENTATION OF THAT NOW. LOCAL BUSINESS GRANT PROGRAM ADMINISTRATION, AGAIN, AS I MENTIONED EARLIER, HAVE OUR SECOND APPROVED PROJECT GOING THROUGH CONSTRUCTION NOW. WE HAVE OUR ANNUAL REPORT IN PROGRESS. WE THINK THAT'S BEEN A GREAT TOOL THAT WE'VE BEEN ABLE TO DO. KIND OF TO SPEAK TO OUR ACCOMPLISHMENTS AND, YOU KNOW, SALES TAX COLLECTIONS, AD VALOREM, DIFFERENT, YOU KNOW, ANECDOTES ABOUT SOME OF THE THINGS THAT WE'VE ACCOMPLISHED. AND SO THAT IS IN THE QUEUE RIGHT NOW, SHOULD HAVE THAT WRAPPED UP HERE SOON FOR 2025. IT IS A CALENDAR YEAR REPORT. AGAIN, INFRASTRUCTURE REIMBURSEMENTS HAD A GOOD AMOUNT OF INFRASTRUCTURE REIMBURSEMENTS IN THE LAST FISCAL YEAR. TASTE OF SACHSE, AGAIN, WAS THE FIRST YEAR OF THAT PROGRAM. AND SO WE'VE KIND OF ITERATED ON THAT A LITTLE BIT. ICSC AT RED RIVER, OUR TRADE SHOW, WE HAD A VERY SUCCESSFUL TRADE SHOW SHOWING IN SAN ANTONIO THIS YEAR. WE HAD THE COMMUNITY LOGO CREATION OF THAT, WHICH HAS BEEN SUCCESSFUL. YOU CAN SEE THE IMAGE THERE WHEN WALMART NEIGHBORHOOD MARKET HAD THEIR GRAND OPENING. YOU CAN SEE THAT THE COUNCIL MEMBERS HOLDING UP THEIR SHIRTS. WE'RE VERY PROUD OF THIS LOGO. I THINK THAT THE RESIDENTS HAVE BEEN EXCITED ANY TIME THEY CAN GET A SHIRT OR A BUMPER STICKER. I THINK THAT'S BEEN A GREAT THING. [00:10:01] ECONOMIC EXCELLENCE RECOGNITION, AGAIN, WE'VE RECEIVED THROUGH TEDC THE PAST SEVERAL YEARS. WE'VE HAD PROFESSIONAL DEVELOPMENT TRAINING, BEEN ABLE TO PARTICIPATE IN CONFERENCES AND GO AND GROW AND LEARN ABOUT OUR FIELD. AGAIN, ONGOING PARTICIPATION IN THE SACC DEVELOPMENT PROCESS. WE CONTINUE TO STAY PLUGGED IN, BE A RESOURCE TO OUR DEVELOPMENT COMMUNITY, THE BROKERS. WE'VE WELCOMED NEW BUSINESSES TO SACHSE, AND WE'VE CONTINUED ADVERTISING, MARKETING, SPONSORSHIPS THAT PROMOTE THE CITY AND OUR COMMUNITY PARTNERS. SO IT'S BEEN A GREAT YEAR, AND WE'RE EXCITED TO HAVE THE ECONOMIC DEVELOPMENT STRATEGIC PLAN NOW TO KIND OF CONTINUE TO ORDER OUR STEPS IN A VERY DELIBERATE WAY. SO FROM A SALES TAX COLLECTION STANDPOINT, YOU CAN SEE THAT THIS NUMBER HAS CONTINUED TO INCREASE. THIS CHART GOES BACK TO 2018. THIS IS SALES TAX ACROSS THE ENTIRE CITY. SO AGAIN, THE EDC FUND DOESN'T HAVE $6.17 MILLION COMING IN, BUT THAT IS THE MDD, THE GENERAL FUND, THE STREETS MAINTENANCE TAX, AS WELL AS THE EDC FUND. SO WE HAVE A 0.5 OF THAT COMES BACK INTO OUR... EDC SALES TAX FUND. SO AGAIN, IT'S GOOD TO SEE THIS NUMBER CONTINUED TO CLIMB. I THINK, YOU KNOW, WE PROJECT THAT IT'LL CONTINUE TO DO SO. SO, YOU KNOW, OUR SALES TAX IS, THE WHOLE POINT IS TO TRY TO OFFSET RELIANCE ON THE PROPERTY TAX. AND SO, AGAIN, THAT NUMBER GOES UP. THAT'S A GOOD THING FOR OUR RESIDENTS. THIS IS, YOU KNOW, ARGUABLY ONE OF THE MOST IMPORTANT SLIDES WITHIN THE DECK, BUT JUST TO SHOW, AND I'LL NOTE HERE, IN THE FY2027 PROJECTION ON THE FAR RIGHT, THERE IS A SUBTLE DIFFERENCE FROM WHAT WAS IN THE PACKET THAT WENT OUT, ABOUT A $5,000, $6,000 REDUCTION IN THAT REVENUE, LESS EXPENDITURES LINE. WE REMOVED A COUPLE THINGS. IT'S IMPORTANT TO NOTE THAT THE BUDGET WE'RE STILL REFINING. IT WON'T CHANGE SUBSTANTIVELY FROM WHAT YOU ALL SEE, BUT THERE LIKELY WILL BE TWEAKS BETWEEN NOW AND THE JUNE MEETING. OF COURSE, WE'LL BRING THOSE TO YOUR ATTENTION. JUST TO NOTE ABOUT A $6,000 REDUCTION IN THAT REVENUES LESS EXPENDITURES JUST CUTTING A COUPLE OF ITEMS UPON FURTHER REVIEW. SO YOU CAN SEE HERE THIS CHART ILLUSTRATES WHERE WE'RE AT RELATIVE TO THE REVENUES EXPENDITURES THROUGH FY 2026 AS OF MAY 12TH AND THEN OUR PROJECTIONS YOU CAN SEE THERE THAT THE PROJECTED REVENUES ACROSS THE SOURCES INDICATED ON THAT SLIDE SALES TAX THE GISD GRANT AND THEN OUR INTEREST INCOME WE CONTINUE TO SEE FAVORABLE RETURNS IN OUR INTEREST. FINANCE TEAM DOES A GREAT JOB, AS I SAY, EVERY YEAR IN MAXIMIZING OUR RETURNS THERE. SO WE'RE REALLY DELIGHTED TO HAVE THAT. SO YOU CAN SEE THAT THAT BOTTOM IMAGE, THIS IS JUST THE SNAPSHOT THAT WAS IN THE PACKET FROM THE CONSENT AGENDA ITEM, BUT ILLUSTRATING OUR LIQUID ASSETS. SO ABOUT $6.6 MILLION LIQUID FUND BALANCE AS OF 4-30-2026. SO WE'RE KIND OF LOOKING AT THE CASH AND OUR INVESTMENTS MONEY THAT WE COULD HAVE ACCESS TO LIKE NOW IF WE NEED IT. SO GOOD HEALTHY FUND BALANCE THERE. WE'LL GET INTO OBVIOUSLY A WHEN YOU LOOK AT THE REVENUES AND EXPENDITURES AND THE REVENUES, LESS EXPENDITURES, THE CRUX OF WHAT WE'LL TALK ABOUT THIS EVENING IS THAT GOING INTO THE FUND BALANCE, AND I HAVE A SLIDE WHERE I'LL EXPLAIN THE DRAWDOWN. THAT WE'RE PROPOSING FOR THIS YEAR'S FUND BALANCE AND WE'LL GET INTO THAT KIND OF AS WE GO ALONG. SO CERTAINLY A HIGHER PROPOSED EXPENDITURES LINE THAN WE'VE SEEN IN THE PAST. THE PREVIOUS BOARD MEETING WE DID GET INTO IN ADVANCE AND IN PREPARATION OF THIS DISCUSSION. WE TALKED ABOUT THE CAPITAL TRANSFERS OUT FOR THE FIFTH STREET REDEVELOPMENT. RELATIVE TO THIS ACTUAL SACHSE ROAD PIECE, AND WE TALKED ABOUT WAYFINDING, AND THEN WE KIND OF PLANTED THE SEEDS FOR THIS DISCUSSION AGAIN SO THAT YOU GUYS WOULD HAVE HAD SOME PREPARATION. SO JUST TO KIND OF HIGHLIGHT SOME OF OUR GOALS FOR THIS COMING FISCAL YEAR, THE IMPLEMENTATION OF THE COMP PLAN, ECONOMIC DEVELOPMENT STRATEGIC PLAN, WILL BE CRITICAL, SO CONTINUED DEVELOPMENT OF FIFTH STREET. THE WAYFINDING REQUEST FOR QUALIFICATIONS THAT WE DISCUSSED AT OUR LAST MEETING AS PART OF THE FIFTH STREET PIECE IN OUR APPROVED CONTRACT WITH FORD INSIGHT GROUP. WE'LL BE LOOKING AT SOME REMOTE WORK ANALYSIS, THE MULTI-FAMILY MARKET ASSESSMENT, INFRASTRUCTURE ASSESSMENT, THINGS THAT WE DISCUSSED AT OUR LAST MEETING WITH BRADLEY FORD. THAT CONTRACT HAS BEEN CIRCULATED FOR EXECUTION AS WELL BY THE WAY SO LOOKING FORWARD TO GETTING THAT PROJECT KICKED OFF. SOME STRATEGIC COMMUNICATIONS, MARKETING, PR, SO TELLING OUR [00:15:03] STORY, MARKETING OUR TARGET INDUSTRIES. ONE OF THE THINGS THAT THE ECONOMIC DEVELOPMENT STRATEGIC PLAN DID WAS IT IDENTIFIED OUR TARGET INDUSTRIES, AND SO ONE OF THE THINGS THAT WE... THE NEXT STEP IS TO KIND OF CREATE THE ASSETS THAT SPECIFICALLY GO AFTER THOSE INDUSTRIES THAT MAKE IT VERY CLEAR WHAT WE'RE LOOKING FOR. SO WORKING TO TELL THAT STORY, HAVE SOME VERY DELIBERATE EFFORTS WITH EARNED AS WELL AS PAID ADVERTISING AND ENGAGEMENTS. SO LOOKING AT DIFFERENT WAYS TO, WHETHER IT'S SPONSORING EVENTS OR GETTING IN FRONT OF. DIFFERENT BROKERAGE FIRMS OR GROUPS BEING ON PANELS, WORKING TO HAVE VERY DELIBERATE AND IMPACTFUL COMMUNICATIONS AND MARKETING. STRETCH OUR DOLLARS AS FAR AS WE CAN. AGAIN, WE'LL CONTINUE BUSINESS ATTRACTION EFFORTS, REDEVELOPMENT OPPORTUNITIES. YOU KNOW, ONE OF THE THINGS THAT I THINK I'D LIKE TO BRING BACK TO YOU ALL IN FY 2027 WOULD BE REVISITING THE LOCAL BUSINESS GRANT PROGRAM. SINCE WE'VE CREATED THE PROGRAM, IT'S VERY, VERY FOCUSED ON. A PARTICULAR CORRIDOR OF HIGHWAY 78, BUT IS IT WORTH EVALUATING AND LOOKING AT THAT, MAYBE WANTING TO EXPAND IT OR CONTEMPLATE WHAT THAT ADMINISTRATIVE THRESHOLD IS FOR POTENTIAL GRANT FUNDS. SO I'D LIKE TO HAVE A DISCUSSION WITH THE GROUP ON THAT. OF COURSE, EXPANDED BUSINESS RETENTION AND EXPANSION EFFORTS. WE'LL GET INTO THAT IN A MOMENT IN A FUTURE SLIDE. AND THEN, OF COURSE, FUNDING. APPROVED ECONOMIC DEVELOPMENT INCENTIVE PROJECTS. AGAIN, WE'LL GET INTO THAT. AGAIN, A CRITICAL PIECE TO WHAT WE BUDGET FOR IS THAT THOSE INCENTIVE OBLIGATIONS. AGAIN, ALL OF OUR INCENTIVES ARE APPROVED, AND THEY HAVE VARIOUS PERFORMANCE STANDARDS, SO TARGETS HAVE TO BE MET IN ORDER FOR THOSE TO BE PAID OUT. BUT WE DO BUDGET FOR THAT SO THAT WE'RE NOT HAVING TO COME BACK AND DO MID-YEAR BUDGET AMENDMENTS TO GET THAT AUTHORIZATION FOR APPROVED INCENTIVES. SO A FEW NOTABLE BASE BUDGET INCREASES FROM 26 TO 27, SO PERSONNEL. THE NEXT SLIDE, WE'LL GET INTO THIS, BUT WE HAVE A SUPPLEMENTAL REQUEST THIS YEAR IN THE BUDGET FOR A NEW FTE, FOR A NEW POSITION, BRINGING US FROM, CURRENTLY WE'RE JUST ONE, BUT WE HAVE TWO, AND WE'RE REQUESTING A THIRD POSITION, SO WE'LL TALK ABOUT THAT. THE BUSINESS RETENTION AND EXPANSION ITEM, SO WE'RE PROPOSING ADDING FUNDS TO THAT LINE, AS WE REQUEST A NEW POSITION, THAT PERSON WILL BE FOCUSED ON BUSINESS RETENTION AND EXPANSION EFFORTS, SO ADDING A BIT TO THAT LINE FOR PROGRAMMING. AGAIN, SOME SMALLER POTATOES, ITEMS, SMALL TOOLS AND EQUIPMENT, THAT ITEM WENT UP SLIGHTLY FROM THE PAST BUDGET YEAR. EMPLOYEE TRAVEL AND TRAINING, AGAIN, WHEN YOU BRING ON STAFF AND HAVING MORE OPPORTUNITIES FOR THEM TO GO TO. DIFFERENT EVENTS AND TRAINING OPPORTUNITIES, DIFFERENT MARKETING TYPE PROMOTIONAL ENDEAVORS. SO YOU CAN SEE THERE SOME OF THE NOTABLE EXPENDITURES, COMMUNITY RELATIONS, THAT'S RED, WHITE, AND BLUE BLAST, FOR EXAMPLE, WE DO THAT, THE FIREWORKS, A PORTION OF THAT, AND SO THAT GOES UP 5%, RIGHT? SO YOU HAVE SOME INCREASES THERE, HAPPY TO DIVE IN DEEPER TO ANY OF THESE LEGAL FEES. AGAIN, WITH THE FIFTH STREET STUFF, WE WENT AHEAD AND ADDED ADDITIONAL FUNDING TO OUR LEGAL FEES LINE, ANTICIPATING MORE REVIEW OF DEALS AND DIFFERENT KIND OF PERFORMANCE STANDARDS AND THAT SORT OF THING. SO WE TALKED ABOUT THE TRANSFER OUT FOR FUTURE FUNDING FOR INFRASTRUCTURE PROJECTS, FIFTH STREET, AND THEN, OF COURSE, OUR INFRASTRUCTURE GRANTS. SO WE'LL DIVE INTO THESE MORE SUBSEQUENTLY. IF ANYBODY WANTED TO CAMP OUT ON ANYTHING SPECIFICALLY, HAPPY TO DO THAT. JUST TELL ME TO STOP TALKING AND I WILL. SO FROM A PERSONNEL STANDPOINT, WE ARE REQUESTING A NEW FULL-TIME EQUIVALENT AS A SUPPLEMENTAL REQUEST IN THIS YEAR'S BUDGET. SO THIS ISN'T PART OF THE BASE BUDGET REQUEST, BUT IT GOES THROUGH A SUPPLEMENTAL PROCESS. SUBMITTED THE REQUEST THROUGH... IT'LL GO, OF COURSE, THROUGH TO THE CITY COUNCIL. ULTIMATELY, OUR BUDGET AUTHORIZATION COMES FROM THE GOVERNING BODY. SO ULTIMATELY, THE COUNCIL WILL TAKE ACTION. BUT WHAT WE'RE LOOKING TO DO IS IN CONCERT WITH THE ADOPTION OF THE ECONOMIC DEVELOPMENT STRATEGIC PLAN AND THEN CERTAINLY AS PART OF THAT PLANNING EFFORT, THERE WAS AN EDO, SO AN ECONOMIC DEVELOPMENT ORGANIZATIONAL KIND OF PEER ANALYSIS THAT WAS COMPLETED AS PART OF THAT EFFORT. AND WE'VE IDENTIFIED A NUMBER OF DIFFERENT RECOMMENDATIONS AND AN OPPORTUNITY TO BOLSTER OUR EFFORTS AND GET MORE DELIBERATE RELATED TO BUSINESS [00:20:02] RETENTION SPECIFICALLY. AND SO FINDING ADDITIONAL CAPACITY TO HAVE SOMEBODY REALLY DEDICATED TO THOSE ENDEAVORS. SO ADDING STRUCTURE, ADDING CAPACITY, SO THIS PERSON WOULD BE MORE OF A LIAISON BETWEEN... CITY IN OUR EXISTING BUSINESS COMMUNITY AND AN IMMEDIATE POINT OF CONTACT, UNDERSTANDING GROWTH NEEDS AND CHALLENGES, REALLY A PERSON THAT WOULD BE QUITE A BIT OUT IN THE FIELD, REALLY BOOTS ON THE GROUND, TALKING WITH THESE BUSINESSES, ONGOING SUPPORT, STRENGTHENING RELATIONSHIPS. THAT WAS ONE OF THE THINGS THAT WAS IDENTIFIED IN THE PEER EDO ANALYSIS WAS THAT GREATER RETURNS FROM THESE INVESTMENTS IN THINGS LIKE... INCREASING OUR CAPACITY IN THIS WAY. WE HAVE, CURRENTLY IT'S JUST ME, BUT TYPICALLY, YOU KNOW, WHEN IT WAS TWO OF US, WE HAD OUR FORMER EMPLOYEE DOING BUSINESS VISITATION, AND IT WASN'T A FORMALIZED, STRUCTURED PROGRAM. IT WAS, WE WOULD TRY TO VISIT BUSINESSES, AND WE WOULD TRACK IT. WE HAVE, YOU KNOW, OUR CRE TOOL, BUT WE REALLY WANT TO HAVE A... VERY DELIBERATE, PROACTIVE, AND MEANINGFUL BUSINESS ENGAGEMENT VISITATION PROGRAM. YOU CAN SEE THEY'RE ESTABLISHING A PREDICTABLE CADENCE, CLEAR OWNERSHIP OF THESE ACTIVITIES. SO THIS PERSON, AGAIN, THIS WOULD BE THEIR JOB, WOULD BE BUSINESS RETENTION AND ENGAGEMENT. AND SOME OF THE THINGS THAT WE CONTEMPLATE RELATIVE TO THAT WOULD BE DIFFERENT THINGS LIKE ACTIVATIONS. REACHING OUT TO OUR ENTREPRENEURSHIP AND IN OUR HOME-BASED BUSINESS COMMUNITY, SOMETHING THAT WE HAVE NOT DONE YET. YOU KNOW, THAT IS A PORTION OF OUR WORKFORCE HERE THAT IS, YOU KNOW, UNTAPPED. LEARNING MORE ABOUT WHAT THEIR NEEDS ARE, EXPANDING OUR PARTNERSHIPS SO THERE'S A TON THAT WE CAN DO WITH, YOU KNOW, REGIONAL AND SUB-REGIONAL COLLABORATION. THE STRATEGIC PLAN TALKS ABOUT, YOU KNOW, PARTNERING WITH OUR COMMUNITY, PEER COMMUNITIES FOR POTENTIAL EFFORTS FOR BUSINESS ATTRACTION, WORKING THROUGH LIKE THE SMALL BUSINESS ADMINISTRATION, YOU KNOW THERE'S DIFFERENT ORGANIZATIONS AT THE STATE AND THE FEDERAL LEVEL THAT WE THINK THAT THIS PERSON COULD TAP INTO FIND OPPORTUNITIES FOR DIFFERENT FUNDING AND GRANTS AND WORKFORCE TYPE SUPPORT FOR OUR BUSINESSES. AND AGAIN SOCIAL MEDIA AND WEB PRESENCE, THIS PERSON WILL LIKELY, WE WOULD HAND THE OUR SOCIAL MEDIA, OUR COMMS, FROM AN ECONOMIC DEVELOPMENT STANDPOINT, WOULD LARGELY EXIST IN THIS PERSON'S BUCKET OF TASKS. SO THIS PERSON, THEIR SALARY AND ALL THE COSTS ASSOCIATED WITH THEM, BECAUSE SOME OF IT RUNS THROUGH THE CITY BUT THEN GETS CHARGED BACK TO US, CORRECT? IT ALL COMES OUT OF OUR BUDGET, NOTHING FROM, QUOTE, CITY'S BUDGET. I KNOW IT'S ALL THERE. YES. SO THE INITIAL NET IMPACT... TO THE FUND BALANCE THERE YOU SEE AT THE TOP, THE $128,103, THAT'S WAGES AND SALARIES, THAT'S EQUIPMENT, THAT'S THEIR DESK, FURNITURE, AND SO SOME OF THAT IS GOING TO BE ONE-TIME EXPENDITURES, YOU KNOW, YOUR COMPUTER, THINGS LIKE THAT. THE THINGS THAT WOULD BE RECURRING THAT WOULD END UP IN OUR BASE BUDGET MOVING FORWARD WOULD BE WAGES AND SALARIES, INSURANCE, BENEFITS, BENEFITS, CORRECT, THAT'S RIGHT. AND THEN SOME OF THOSE THINGS LIKE, YOU KNOW, YOU ROLL OFF YOU AGAIN, KIND OF GETTING INTO THE WEEDS A LITTLE BIT, BUT SOME OF THE TECHNOLOGY STUFF WOULD ROLL OFF, BE MORE OF AN IT THING THAT WOULD BE ABSORBED INTO THEIR BUDGET, GET ON AN EQUIPMENT REPLACEMENT TYPE SCHEDULE AND SO FORTH. BUT YES, THAT WOULD BE THE NET IMPACT TO OUR FUND BALANCE IN THE IMMEDIATE NOW. AND SO YOU CAN SEE THERE THE STRUCTURE OF THE DEPARTMENT, IF YOU WILL, WOULD REMAIN. I WOULD CONTINUE REPORTING TO THE CITY MANAGERS. WE'VE GOT CITY COUNCIL DELEGATED OVERSIGHT OF THE ECONOMIC DEVELOPMENT CORPORATION STAFF, WHICH SHE DELEGATES TO ME. AND SO THEN WE'D HAVE AN ASSISTANT TO THE DIRECTOR OF ECONOMIC DEVELOPMENT, THE POSITION THAT WE'RE CURRENTLY HIRING FOR, HAVE POSTED. AND THEN PENDING BUDGET APPROVAL, WE WOULD POST FOR A BUSINESS RETENTION SPECIALIST. SO THAT IS A PROPOSAL. THAT WE'VE GOT AS A SUPPLEMENTAL. AGAIN, IT DOESN'T SHOW UP IN OUR BASE BUDGET REQUEST, BUT IT WOULD BE A SUPPLEMENTAL THAT WOULD ULTIMATELY END UP IN OUR BASE BUDGET, SUBSEQUENTLY IF APPROVED. AND SO I CAN CAMP OUT HERE IF THERE'S ANY ADDITIONAL QUESTIONS, WE CAN CERTAINLY COME BACK. ANY QUESTIONS ON THIS ITEM FOR ANYBODY? WHAT ARE, SO SIMILAR, HOLD ON, LET ME SEE HOW TO PHRASE THIS. OKAY, CITIES OF SIMILAR SIZE, DO THEY ALREADY HAVE THIS POSITION? IS IT? FAIRLY STANDARD AND KIND OF WHAT ARE THEY SEEING AS THE ROI FOR IT? [00:25:02] YEAH, SO WE'VE, WE DID THE EDO ANALYSIS. WE LOOKED AT SIX DIFFERENT CITIES, OUR CONSULTANTS, I SHOULD SAY, LOOKED AT SIX DIFFERENT CITIES. AND SO THEY PICKED A COUPLE CITIES IN THE METROPLEX. THEY PICKED A COUPLE CITIES IN THE HILL COUNTRY JUST TO GET KIND OF A VARIETY. AND SO WHAT THEY FOUND IS OUR INCENTIVE CAPACITY AND BUDGET CAPACITY SEEMS TO BE KIND OF ON PAR WITH THE CITIES THAT THEY LOOKED AT, BUT WE COULD BENEFIT FROM MORE TARGETED INTERACTION WITH OUR BUSINESSES, MORE DELIBERATE INTERACTION FROM OUR BUSINESSES. SO CITY TO CITY, I THINK YOU'LL SEE SOMETHING DIFFERENT. WHAT'S TRICKY ABOUT ECONOMIC DEVELOPMENT IS EVERY CITY DOES IT SO DIFFERENTLY. SOME, LIKE WE'RE FUNDED OUT OF OUR EDC FUND. I THINK WILEY, FOR EXAMPLE, A BIGGER CITY THAN US IN TERMS OF GEOGRAPHY AND POPULATION, BUT THEY HAVE A BR&E PERSON. IT IS NOT UNCOMMON TO HAVE SOMEBODY THAT'S DOING THAT WORK. BUT YES, IT WOULD BE SOMETHING THAT, IN TERMS OF EVERY CITY IN THE METROPLEX, I HAVEN'T LOOKED AT THAT PARTICULARLY, BUT JUST AS AN EFFORT TO INCREASE OUR... OUR OFFERINGS AND BANG FOR OUR BUCK, THAT WAS SOMETHING THAT WE WANTED TO DO. I COULD CERTAINLY KIND OF PULL MORE INFORMATION ON THAT, THOUGH, FOR THE NEXT MEETING IF YOU'D BE INTERESTED IN KIND OF AN ANALYSIS OF... YEAH, NO, I MEAN, I THINK ANYTHING ON ROI MIGHT BE HELPFUL AS WE LOOK AT IT. I MEAN, I THINK LOOKING AT IT, IT MAKES SENSE TO ME, RIGHT? BUT JUST MAKING SURE WE'RE BEING REALLY GOOD STEWARDS. SO, YEAH. ONE OF THE THINGS TOO, BECAUSE WITH THE ECONOMIC DEVELOPMENT STRATEGIC PLAN, IT'S A PRETTY AMBITIOUS DOCUMENT. THERE'S A NUMBER OF RECOMMENDATIONS, AND WHAT WE KIND OF FOUND WAS TO BE AS EFFECTIVE AS WE WANT WITH THIS DOCUMENT, IT WOULD BEHOOVE US TO KIND OF RETHINK THE WAY THAT WE WERE DOING SOME THINGS. AND SO THERE ARE A NUMBER OF KIND OF BRE-TYPE RECOMMENDATIONS. YOU KNOW, LIKE I'VE GOT THE PLAN HERE, JUST LOOKING AT IT, LIKE ESTABLISHING AN ECONOMIC DEVELOPMENT BUSINESS CONCIERGE SERVICE. DEVELOPING EMPLOYER EDUCATION PARTNERSHIPS, CREATING SACCCE CAREER PATHWAYS PARTNERSHIP. SOME REALLY COOL IDEAS AND AGAIN THAT'S NOT EVEN TO MENTION THE ENTREPRENEURSHIP STUFF AND INNOVATION HUB AND WITH THE DESIRE THAT HAS BEEN EXPRESSED FOR THE 5TH STREET DISTRICT AND SOME OF THAT BUSINESS ATTRACTION AND THE DEVELOPMENT PIECE BECAUSE SACCCE IS CLOSER TO BUILD OUT BUT WE STILL HAVE GREENFIELD DEVELOPMENT. FOR ME TO BE ABLE TO FOCUS ON THOSE THINGS, BUT ALSO TO DO THE BUSINESS RETENTION STUFF, THAT WAS KIND OF THE THINKING IN THAT CONTEXT. SO JUST, AGAIN, A LITTLE PEEK BEHIND THE CURTAINS TO WHAT WE WERE THINKING. BUT ALL IN SUPPORT OF THE STRATEGIC PLAN. YES, MA'AM. THANK YOU. YEAH. HERE WE GO. SO PROFESSIONAL SERVICES, WE DID TALK ABOUT THE $200,000. WAYFINDING DESIGN GUIDE AND IMPLEMENTATION PLAN. SO JUST AGAIN, WE'LL GET INTO THE CAPITAL TRANSFERS OUT. THIS IS NOT THE SAME THING AS THE OTHER $200,000 THAT WE'RE PROPOSING TO TRANSFER OUT INTO THE CAPITAL BUDGET FOR THE ACTUAL IMPLEMENTATION AND CONSTRUCTION OF THOSE OF THOSE SIGN ITEMS. THIS IS THE PLAN ITSELF. SO THE PLAN WOULD BE FUNDED OUT OF PROFESSIONAL SERVICES. YOU CAN SEE THERE THIS LINE, ANOTHER $35,000 INCREASE FOR STRATEGIC COMMUNICATIONS, AGAIN, MARKETING, PHOTOGRAPHY, GRAPHIC DESIGN, CONSULTING FEES, AND 5TH STREET DISTRICT PLANNING. SO SIMILAR TO FY2026, WE'VE STARTED WORKING WITH A GROUP THAT'S GOING TO HELP US KIND OF IN TERMS OF GETTING OUR REAL DELIBERATE STRATEGIC COMMUNICATIONS PLAN, AGAIN, GOING BACK TO LIKE THE TARGET SECTORS. HOW DO WE TELL OUR STORY? SO INCREASING THE STRATCOM BUDGET THERE TO BE INCREDIBLY DELIBERATE WITH HOW WE SPEND OUR MONEY, AND AGAIN, MARKETING, PHOTOGRAPHY, UNFORTUNATELY, YOU GET PICTURES AND YOU DO VIDEOS, AND THEN ALMOST AS SOON AS YOU GET THEM, YOU NEED TO GET THEM AGAIN. SO WE'RE JUST SPECIFICALLY CALLING OUT SOME FUNDING FOR THAT IN THIS NEXT BUDGET YEAR. THAT'S THE INCREASE TO PROFESSIONAL SERVICES. YOU ALL SAW THIS LAST MEETING. WE DISCUSSED THE SACHSE ROAD REDESIGN AND ONE-WAY CONVERSION, THE ADDITIONAL FUNDS BEING PUT OVER INTO THE PARKING LOT DRAINAGE FOR THE FIFTH STREET DISTRICT, AND THEN AGAIN THE WAYFINDING SIGN CONSTRUCTION. SO WHEN YOU LOOK AT THAT THAT SLIDE THAT I CALLED ATTENTION TO WITH THE THREE MILLION DOLLAR EXPENDITURES, A BIG CHUNK OF THAT IS THAT A MILLION DOLLARS IS BEING PROPOSED TO ROLL OVER INTO THE CIP FOR THIS UPCOMING YEAR. [00:30:06] HAS COUNCIL STARTED TO TALK? BECAUSE OBVIOUSLY THIS IS NOT GOING TO ALL BE US WHEN YOU START TALKING ABOUT THIS CHANGE. IS THAT, DO WE? WE HAVEN'T HAD A BUDGET DISCUSSION YET. I SUSPECT IT'S ON THERE BECAUSE THERE'S NO WAY THAT PAYS FOR THAT AMOUNT. THAT'LL PAY FOR ABOUT 100 FEET. YEAH. YEAH. THAT CHUNK OF ROAD. BASED OFF OF WHAT THE OTHER, THE FIFTH STREET PIECE OF SACHSE ROAD COSTS, THAT'S PROBABLY A QUARTER. I'M BACK OF THE ENVELOPE. YOU GUYS HAVEN'T GOTTEN THAT FAR YET? I WOULD ASSUME THAT SOME OF IT'S CITY, SOME OF IT'S EDC AS THIS PLAYS OUT. A BIGGER CONVERSATION, CERTAINLY WITH THE CITY MANAGER AND THE COUNCIL, OBVIOUSLY THERE'S... THERE'S FUNDING SOURCES LIKE THE TERS 3 THAT COUNCIL HAS OVERSIGHT OF. AND WE'LL HAVE FUND BALANCE. THIS IS LIKELY THAT $600,000 IS REALLY GOING TO BE THE DESIGN OF THE ROAD. MORE THAN LIKELY. BUT YES, MORE CONVERSATIONS TO COME REGARDING THAT ONE-WAY CONVERSION PROJECT. BUT ALEXANDER STREET WAS... YOU KNOW, TWO PLUS MILLION DOLLARS FOR THAT PROJECT TO GIVE YOU KIND OF AN IDEA OF WHAT YOU MIGHT BE LOOKING AT. WHERE DOES THAT MONEY GO? I MEAN, IT JUST GOES TO A DIFFERENT ACCOUNT WITHIN... MOVE IT OVER INTO THE CAPITAL IMPROVEMENTS PROGRAM. SO IT, BASICALLY, IT'S A FUND THAT'S ESTABLISHED AND SET ASIDE. WE BASICALLY WOULD, FOR EXAMPLE, WAYFINDING SIGN CONSTRUCTION, FOR EXAMPLE, $200,000 IS A DROP IN THE BUCKET. FOR WHAT IT LIKELY WILL COST TO INSTALL ALL OF THESE IDENTIFIED WAYFINDING SIGNS, MONUMENTATION SIGNS, IF THERE'S ANY KIND OF PUBLIC ART COMPONENT TO THAT. AND SO WE WOULD ESTABLISH A PROJECT WITHIN THE CAPITAL BUDGET, AND THEN OTHERS COULD ADD FUNDING TO IT AS WELL. SO THERE'S GOING TO BE, AGAIN, BEYOND JUST THE EDC SCOPE HERE, BUT IF THERE'S PARKS, FOR EXAMPLE, OR IF THERE'S... AGAIN, WE WOULD LIKE TO HAVE A UNIFORM SIGN, SO LIKE, DOES THE MDD MOVE OVER FUNDS INTO THE CIP FOR THAT LINE ITEM? SIMILARLY, FOR PARKING LOT DRAINAGE, YOU SEE THERE THAT THE EXISTING FUNDS COLUMN, IT SAYS $200,000. SO A COUPLE YEARS AGO. WE MOVED OVER $200,000 INTO THE CIP. IT SAT THERE AS ALMOST LIKE A RESERVE FOR THAT PROJECT. AND SO WE'RE PROPOSING TO MOVE OVER $400,000 MORE, BRINGING THAT TOTAL TO $600,000 SPECIFICALLY FOR THAT PROJECT. JUST A WAY TO BUILD UP A LITTLE BIT OF A BALANCE OVER TIME. JANELLE, YOU HAD A QUESTION? YES, I DID. WITH THE ONE-WAY ROUTE DESIGN, SO DOES THAT MEAN YOU'RE GOING TO HAVE TWO TRAFFIC LIGHTS, ONE ON 5TH STREET AND THEN ONE RIGHT AFTER ELSER'S? THIS WOULDN'T CONTEMPLATE ANY TRAFFIC LIGHTS. THIS WOULD BE, WHAT WE'RE LOOKING AT AND STUDYING IS, YOU KNOW, OFF OF HIGHWAY 78, YOU MAKE A RIGHT, I THINK IT'S TECHNICALLY, IT'S 3RD STREET, CURVES AROUND. BUT AFTER THAT STREET, THEN YOU'VE GOT THE... SACHSE ROAD, AND SO WHAT WE'RE CONTEMPLATING IS CONVERTING THAT JUST TO ONE WAY, SO YOU BASICALLY HEAD TO THE ROUNDABOUT. YOU'D ONLY BE ABLE TO DRIVE IN ONE DIRECTION, ADDING PARKING. YEAH, BECAUSE ONE OF THE THINGS THAT WE'RE REALIZING IS, YOU KNOW, SEVEN ACRES ISN'T A TON OF LAND. AND SO WHEN YOU'RE TALKING ABOUT DIFFERENT BUSINESS PROSPECTS AND THE DESIGN GUIDELINES AND THE ZONING DISTRICT, IS A WALKABLE KIND OF DISTRICT, BUT THESE GUYS ALSO NEED PLACES TO PARK THEIR PATRONS. AND SO WE HAVE TO THINK ABOUT, AND AGAIN, GOING BACK TO THE STRATEGIC PLAN, WHAT WAYS CAN WE CONTEMPLATE USING OUR ASSETS LIKE RIGHT-OF-WAY, GET ADDITIONAL PARKING, NOT HAVING TO UTILIZE THAT LAND THAT'S SO PRECIOUS. AS THE CITY MANAGER SAYS, WE'RE NOT MAKING MORE LAND. NO, WE DON'T. DOES THAT ANSWER THAT QUESTION? YES, IT DOES. BUT THAT WILL BE A BIGGER CONVERSATION. COUNCIL WILL MOST DEFINITELY BE INVOLVED IN THAT. INFRASTRUCTURE GRANTS AND SALES TAX REIMBURSEMENTS. SO, AGAIN, ALL INCENTIVE AGREEMENTS ARE PERFORMANCE-BASED. WE HAVE A COMBINATION OF INFRASTRUCTURE GRANTS AND SALES TAX REIMBURSEMENTS. AGAIN, AS I MENTIONED, WHAT WE DO IS WE TRY TO DETERMINE WHAT THAT IS. OBLIGATION WILL BE TO SOME EXTENT FOR SALES TAX ABATEMENTS YOU'RE GUESSING TO SOME EXTENT BECAUSE IF THEY COULD OVERPERFORM. AND SO WE COME UP WITH A NUMBER THAT WE THINK IS A REASONABLE ESTIMATE FOR WHAT THE REIMBURSEMENT WOULD BE. AND WE BUDGET THAT [00:35:02] INTO THAT LINE ITEM IN THE BUDGET. SO YOU CAN SEE THERE FOR FY2027, $1,160,000 FOR POSSIBLE INCENTIVE PAYMENTS. AND I THINK IT'S IMPORTANT TO CAMP OUT HERE A COUPLE THINGS. WE BUDGETED FY 2026 A SIMILAR AMOUNT. IF THAT MONEY ISN'T SPENT OR PEOPLE AREN'T HITTING THEIR PERFORMANCE TARGETS, THAT MONEY ROLLS BACK INTO THE FUND BALANCE. IF SOMEBODY IS IN BREACH OF THEIR CONTRACT, FOR EXAMPLE, THEY WOULDN'T BE ELIGIBLE TO RECEIVE THAT FUNDING, AND SO THEY'D HAVE TO COME BACK AND POTENTIALLY RENEGOTIATE OR WHATEVER IT MIGHT BE. SO WE INCLUDE THAT AS JUST A MECHANISM TO KEEP TRACK OF... WE DON'T WANT TO... OVERSPEND, IF YOU WILL. AND SO HAVING A BETTER IDEA OF WHAT OUR COMMITMENTS ARE FROM AN INCENTIVE STANDPOINT RELATIVE TO OUR EXISTING FUND BALANCE, WE THINK IT'S IMPORTANT TO BE MINDFUL OF THAT. WELL, YOU CAN SEE BECAUSE WE BUDGETED LAST YEAR $935,000 FOR THIS, AND SO FAR NOTHING'S GONE OUT. YES, THAT IS CORRECT. BECAUSE NOBODY'S, EITHER THEY HAVEN'T FINISHED QUALIFYING FOR IT OR THEY DIDN'T. AND SO NOW WE'RE JUST MOVING FORWARD. SO THAT, I MEAN, I THINK IT'S SMART TO KEEP THAT. YEAH, I THINK THAT WE'LL PROBABLY HAVE... SOME THAT WILL END UP PAYING OUT BEFORE THE END OF THIS FISCAL YEAR BECAUSE YOU'VE GOT DIFFERENT AGREEMENTS ARE STRUCTURED DIFFERENTLY, BUT YOU MIGHT HAVE AN INFRASTRUCTURE THAT HAS MULTIPLE CHECKPOINTS AND YOU HIT THE TARGET, YOU'RE ELIGIBLE FOR A REIMBURSEMENT THERE. SO I DO SUSPECT THAT WE'LL HAVE SOME. THAT NUMBER WON'T BE ZERO. AT THE END OF THE FISCAL YEAR, BUT YEAH, YOU'RE RIGHT. FOR NOW, IT IS. WE'LL HAVE A LOT MORE FOR 27 BASED UPON WHAT WE'RE DOING. YES, AND AGAIN, THIS ASSUMES THAT PEOPLE PERFORM, RIGHT? SO IT IS KIND OF AN IF. OBVIOUSLY, YOU WANT PEOPLE TO HIT THEIR TARGETS AND PERFORM, BUT IF THEY DON'T, WE PROTECT OURSELVES. RIGHT. WE TRY TO MAKE OUR AGREEMENTS MITIGATE RISK. LOCAL BUSINESS GRANTS, SO WE PAID ONE OUT. $20,620, AND THAT WAS IN FY 2024, APPROVED THE SECOND GRANT, TALKED ABOUT THIS. FUNDS THAT AREN'T USED IN EACH BUDGET YEAR JUST MOVE BACK INTO THE FUND BALANCE. SO FOR THE PAST SEVERAL YEARS, WE'VE JUST INCLUDED $100,000 IN THAT LINE ITEM FOR THE LOCAL BUSINESS GRANT. SO AGAIN, IT'S A NOT-TO-EXCEED $25,000 PER AWARD. SO FOR SACHSE PLAZA, FOR EXAMPLE, THEY PROVIDE A TON OF INFORMATION ON THE FRONT END, AND THEY PROVIDE US RECEIPTS, AND WE VALIDATE BEFORE WE PAY OUT. THAT. AWARD WON'T BE MORE THAN $25,000 PER AGREEMENT. I AGREE WITH YOU. I'D LIKE TO HAVE MORE OF A DISCUSSION ON THAT, WHETHER WE EXPAND THE GEOGRAPHIC AREA OF THAT THAT WE'RE ALLOWED TO USE IT FOR. AND I DON'T KNOW IF THAT'S SOMETHING WE DO RIGHT AFTER THE SUMMERTIME BREAK IN JULY. I THINK THAT IF WE CAN, ESPECIALLY BECAUSE AUGUST BUDGET'S APPROVED. YOU ALL WILL TAKE ACTION IN JUNE, BUT THE COUNCIL IS IN AUGUST. OKAY, SO WE'LL HAVE THE FUNDING, IF YOU WILL, APPROVED. I'D LIKE TO PUT THAT VERY QUICKLY THEREAFTER SO THAT WE CAN GET THAT OUT. MY HOPE WOULD BE THAT THAT, ALONG WITH FINDING ANOTHER PERSON, HELPS US TO USE THAT MORE EFFECTIVELY. WELL, THAT'S A GREAT—I'M GLAD YOU SAID THAT, MR. PRESIDENT, BECAUSE I THINK THAT THAT'S SOMETHING THAT AS A BUSINESS RETENTION PERSON— IT'S JUST CONSTANTLY TALKING ABOUT THESE OPPORTUNITIES. AND IF YOU ALL DECIDED, BECAUSE WHAT I WOULD WANT TO DO IS BRING TO THE GROUP, HERE'S WHAT WE'RE DOING, HERE'S SOME POSSIBLE OPTIONS, AND MAYBE THERE'S WAYS TO CONTEMPLATE. MAYBE THERE'S JUST A FACADE IMPROVEMENT GRANT. YOU KNOW WHAT I MEAN? SO THERE'S DIFFERENT THINGS THAT WE'LL CONTEMPLATE. SO WE'LL BRING THAT TO YOU ALL MOST DEFINITELY. OKAY. AS PROMISED, THE FUND BALANCE. DRAW DOWN SLIDE, SO AGAIN, TO BE CONSISTENT WITH WHAT WENT OUT IN THE CONSENT AGENDA, THE AVAILABLE FUND BALANCE AS OF 4-30-26 WAS $6,604,000 AND SOME CHANGE. THE FY2027 BASE BUDGET REVENUES, LESS EXPENDITURES, SO WE WOULD BE DRAWING DOWN THE FUND BALANCE BY 1.5, THAT NUMBER YOU SEE THERE, THAT WOULD BE DRAWING DOWN THE FUND BALANCE. AND THAT INCLUDES ALL OF THE TRANSFERS OUT FOR THE CAPITAL PROJECTS THAT WE DISCUSSED, SO $1 MILLION, AS WELL AS ALL OF THOSE BUDGETED INCENTIVES. SO AGAIN, IF PERFORMANCE STANDARDS ARE MET AND THE BUDGETED INCENTIVES ARE PAID OUT, THAT IS AN IF. SO WHAT IS NOT INCLUDED IN THE BASE BUDGET REQUEST IS THE SUPPLEMENTAL, AS WE TALKED ABOUT, $128,103 FOR THE BUSINESS RETENTION SPECIALIST. SO THE POTENTIAL ENDING FUND BALANCE, IF ALL BASE BUDGET AND [00:40:03] SUPPLEMENTAL BUDGET REQUESTS INCLUDED IN THE PROPOSED BUDGET WERE FUNDED, YOU'D BE LOOKING AT THAT NUMBER, $4,933,858. THAT'S WHAT THE FUND BALANCE WOULD LOOK LIKE. SO AGAIN, AND WE'LL GO BACK TO ANY SLIDES YOU ALL LIKE, BUT NOT REQUESTING ACTION, LIKE TO GET YOUR INPUT, MAKE NECESSARY EDITS, CONTINUED REFINEMENT, POSSIBILITY FOR AMOUNTS TO SHIFT. YOU KNOW, I'M LOOKING AT IT AND I'M CONTEMPLATING THINGS AND MAYBE THERE'S OPPORTUNITIES TO CUT ITEMS OR MAYBE WE NEED TO ADD THINGS. CERTAINLY THAT WOULD BE HIGHLIGHTED WHEN WE BRING IT BACK TO YOU ALL IN JUNE AND THEN WE'LL TAKE ACTION AT YOUR JUNE MEETING. AND OF COURSE, THE CITY COUNCIL WILL TAKE IT FROM THERE. I DO HAVE A QUESTION ON THE BALANCE. YES, MA'AM. I KNOW IT'S GOING DOWN AND WE'D LIKE TO HAVE FUNDS IN OUR BALANCE. DOES THAT INCLUDE ALL THE SALES TAX INCENTIVES THAT WILL COME IN FOR 2020, 2026, 2027? THIS NUMBER WOULD INCLUDE ALL OF THOSE PROJECTED. REVENUES, SO THE SALES TAX PIECE, THE GRANT PIECE, THE INTEREST PIECE, ALL THOSE, THAT ESTIMATE. SO THE REVENUES, LESS, ALL OF THOSE EXPENDITURES. AND SO THAT'S WHAT WE'D BE LEFT WITH, IF YOU WILL, IN THE FUND BALANCE. SO IN ASKING, SHOULD WE START LOOKING AT OUR SPENDING? I MEAN, AS FAR AS... AVAILABLE FUND BALANCE TODAY AND THEN POSSIBLY HOW MUCH WAS PENDING VERSUS HOW MUCH WE'RE MAKING. IN WHAT WAY? WHAT DO YOU MEAN? PROJECTED SELF-TAX FOR 2026-2027 IS 1.6. THE TOTAL EXPENDITURE IS 3.4. WHICH IS WHY WE'RE DRAWING ABOUT 1.5 FROM THE FUND. SO THE QUESTION IS, ARE WE PUTTING THAT, WE'RE SPENDING MORE THAN WHAT WE'RE MAKING? CORRECT. SO NOW WE'RE DIPPING INTO OUR PURSE, OUR SAVINGS. YEAH, SO FOR US, WE'RE DEDICATED SALES TAX, VOTERS APPROVED, AND WE DON'T HAVE TO HAVE A BALANCED. BUDGET, IF YOU WILL, IN THE SAME WAY THAT THE CITY DOES, WE'RE JUST A FUND, A SUBCOMPONENT UNIT OF THE OVERALL CITY. SO WHAT THIS BUDGET CONTEMPLATES, AND IT'S A LITTLE BIT DIFFERENT THAN HOW WE'VE DONE THINGS BEFORE. IN MY FIRST SEVERAL YEARS, THERE WAS A PRETTY HEALTHY SURPLUS THAT WE WERE KIND OF GETTING USED TO. PUSH THAT BACK INTO THE FUND BALANCE. BUT AGAIN, BEING MINDFUL OF WHAT OUR EXISTING INCENTIVES ARE, THOSE OBLIGATIONS. AND THEN UNDERSTANDING THAT WE'RE TALKING ABOUT MOVING THE POTENTIAL $1 MILLION FOR POTENTIAL FUTURE CAPITAL PROJECTS. YEAH, IT'S A LITTLE BIT DIFFERENT FOR US THAN WE'VE DONE IT IN THE PAST. CAN I JUST MAKE A POLITICAL POINT? YES. FUND BALANCE BRINGS NO BENEFIT TO THE TAXPAYERS OF SACHSE. WE'RE NOT COLLECTING SALES TAX FROM PURCHASES IN TOWN TO HAVE FUND BALANCE. THE JOB OF THE EDC IS TO TAKE THAT TAX MONEY AND USE IT WISELY TO GET A RESULT THAT ADDS IN FOR THE BENEFIT OF THE PEOPLE THAT VOTED TO PUT IT IN PLACE. AND SO IT FEELS WEIRD TO SEE THOSE BALANCES CHANGE, BUT IT ALSO MEANS EFFECTIVELY DOING THE WORK THAT THE BOARD IS HERE TO DO. WE WANT TO SEE A RESULT FROM IT. NOW, IF WE DON'T SEE A RESULT FROM IT, THAT'S A DIFFERENT PROBLEM. CORRECT. BUT YOU ARE CORRECT. WE HAVE TO. BUT THEN MY OTHER POINT IS WE WERE ALSO STATING THAT WE MIGHT NEED A LOT OF FUNDS TO BE ABLE TO DEVELOP THE 5TH STREET DISTRICT. AND I KNOW SOME OF THE FUNDS THAT ARE BEING MOVED IS THERE, BUT OTHER, WHICH WAS AN OUTRAGEOUS OFFER THAT CAME TO US, ONE OF THE REASONS WHY WE WEREN'T EVEN ABLE TO CONSIDER IT IS THE FUNDING. BUT ARE WE POSSIBLY TYING OURSELVES, OUR HANDS IN OUR BACK? WHILE TRYING TO MAKE A CHANGE WHERE WE'RE TRYING TO HIRE SOMEONE TO DO SOMETHING WITHIN SIX MONTHS AND GIVE US SOMEONE THAT WILL DEVELOP IT FOR US. BUT WHAT IF WE DON'T HAVE THE FUNDS TO BE ABLE TO EVEN SUPPORT ANYTHING THAT COMES? YEAH, I THINK WHAT WE WOULD DO IS, YOU KNOW, THE GOAL BEING TO BE EXCEPTIONALLY UPFRONT AND CANDID ABOUT WHAT THAT WILL LOOK LIKE FROM A MASTER DEVELOPER STANDPOINT. [00:45:01] SO, YOU KNOW, WE DON'T WANT TO ENTERTAIN. YOU KNOW, A PROJECT THAT WE KNOW WE COULDN'T AFFORD. BUT, YOU KNOW, THE THING ABOUT OUR INCENTIVES IS, YOU KNOW, YOU'RE LOOKING AT, JUST GOING BACK TO MILES ROAD, RIGHT, YOU'RE LOOKING AT A DECELERATION LANE, YOU'RE LOOKING AT THINGS THAT SUPPORT... FUTURE DEVELOPMENT, RIGHT? SO IT NOT ONLY HELPS THAT ONE DEVELOPER IN TERMS OF GETTING ACCESS TO THEIR SITE, BUT YOU HAVE A MEDIAN CUT THAT NOW ALLOWS FOR CARS TO TRAVERSE THROUGH TO THE NEXT SET OF PAD SITES THAT ARE LOOKING TO BE DEVELOPED, AS WELL AS A DECELERATION LANE THAT WAS GOING TO BE REQUIRED NORTH OF THAT SITE THAT THEN ENABLES FOR THAT SITE TO GET DEVELOPED, AND THAT COST ISN'T PUT ONTO THAT NEXT BUSINESS OWNER. RELATIVE TO OUR INCENTIVES, I THINK WE TRY TO BE VERY, VERY, VERY DELIBERATE ABOUT, AGAIN, GOING TO INFRASTRUCTURE, WHETHER THAT'S UNDERGROUND DETENTION, WHETHER THAT'S CONCRETE PARKING, THOSE STATUTORY REQUIREMENTS THAT ENABLE FOR DEVELOPMENT TO PROCEED. IS IT POSSIBLE, BECAUSE WE'RE GOING TO MOVE A MILLION DOLLARS TO THE CAPITAL PROJECTS, IS IT POSSIBLE TO MOVE THAT BACK IF WE WANT TO? YEAH, IF THE CAPITAL IMPROVEMENT FUNDS, IF THAT PROJECT WAS NOT PURSUED IN THE CONTEXT OF THE ECONOMIC DEVELOPMENT CORPORATION FUND, IT WOULD ROLL BACK INTO THE FUND BALANCE. OKAY, SO THEN THE REASON I ASK THAT IS BECAUSE I'M GOING TO LOOK AT IT A LITTLE BIT DIFFERENTLY THEN BECAUSE I UNDERSTAND. WE'VE GOT TO MAKE SURE WE HAVE MONEY. IF I CAN PUT THAT INTO THAT CAPITAL, THAT'S A SAVINGS ACCOUNT, SO I DON'T THINK I HAVE MORE FUNDS. THAN WHAT I ACTUALLY DO BECAUSE I NEED TO SET THAT ASIDE TO DO SOME OF THAT WORK THAT I HOPE WILL COME TO FRUITION. BUT IF AN OPPORTUNITY COMES ALONG THAT SAYS, WAIT A MINUTE, WE NEED THE CASH NOW, AND THEY'RE GOING TO DO SOME OF THE THINGS AS PART OF THAT PROJECT, IF I CAN PULL THAT BACK, I'VE STILL GOT THE MONEY. I'M FORCING MYSELF TO SAVE NOW BECAUSE IT'S NOT GONE. IT'S NOT SPENT. YEAH, SO WE KNOW, FOR EXAMPLE, LIKE DRAINAGE. DRAINAGE WORK HAS TO TAKE PLACE, RIGHT? RIGHT. IT JUST DOES. SACHSE ROAD FROM THE 78 TO THE ROUNDABOUT HAS TO BE REDEVELOPED. RIGHT. IT'S A TWO-LANE BARGE SEGMENT THAT DOESN'T MEET STANDARDS. SO WE KNOW THAT THOSE ARE PROJECTS THAT HAVE TO BE DONE. AGAIN, GOING BACK TO THE ECONOMIC DEVELOPMENT STRATEGIC PLAN YOU'RE LOOKING AT, THEY CALL THEM BIG BETS, BUT THEY'RE REALLY, WHAT DO THEY SAY, LOW-RISK INVESTMENTS, RIGHT? LIKE INFRASTRUCTURE THAT HAS TO BE DONE ANYWAY. WE'RE EARMARKING THE FUNDING FOR IT, BUT I THINK TO YOUR POINT, YES, IF THE PROJECT WASN'T PURSUED, THAT FUNDING WOULD BE ELIGIBLE TO GO BACK INTO THE EDC FUND BALANCE. BUT FOR EXAMPLE, LIKE WITH THE WAYFINDING SIGN PLAN WITH PARKING LOT, I THINK THAT THOSE ARE PROJECTS CERTAINLY THAT WE WOULD ENVISION WANTING TO DO. IF WE MOVE THE FUNDS OVER, WE'D WANT TO BE ABLE TO DO THEM, AS I'VE MENTIONED. THE SIGN CONSTRUCTION STUFF, WHEN WE MOVE FORWARD WITH THE RFQ, I THINK EVERYBODY'S EXPECTATION WILL BE THAT WITHIN RELATIVELY SHORT ORDER, THERE'S SOME VISIBLE IMPACT TO THE BUILT ENVIRONMENT. SO I THINK THAT IF WE MOVE IT OVER, I THINK WE WANT TO BE PRETTY CONFIDENT THAT IT WILL BE PURSUED, BUT CERTAINLY. WELL, I AGREE, BUT IT'S NOT AN IRREVERENT THING. HEY, IT'S GONE. WE'VE SPENT THE MONEY. WE HAVEN'T SPENT THE MONEY. NO. IT'S KIND OF WHERE MY POINT IS. I MEAN, IT'S EARMARKED FOR SOMETHING WE KNOW THAT NEEDS TO BE DONE. BUT IT'S NOT IRREVOCABLE HEY YOU CAN NEVER TOUCH THAT AGAIN IT'S GONE AND SO THE REASON I AS I LOOK AT IT BECAUSE IT IS ODD TO HAVE A DEFICIT BUDGET I MEAN THAT'S NOT THAT'S NOT NORMAL A CITY OBVIOUSLY CAN'T DO THAT YEAH WE CAN'T RIGHT OKAY BUT WE'RE NOT DOING THESE BECAUSE HEY WE DON'T WE JUST WANT TO SPEND MONEY AND AS I LOOK AT A MILLION AND A HALF DOLLAR SHORTFALL OR A MILLION OF US BECAUSE WE WANT TO SAVE IT FOR FUTURE USE SO NOW I'M AT A HALF MILLION DOLLARS YEAH ANOTHER BASED ON SOME STUFF WE KNOW I THAT'S ASSUMING THAT THANK YOU. ALL 1.1 OF THE INCENTIVES GET MET. AND I KNOW OF ONE THAT I DON'T THINK IS GOING TO HIT US. I DON'T THINK. I CAN'T SAY IT RIGHT NOW BECAUSE I'VE STILL GOT TO WAIT. AND OUR BUDGET IS ACTUALLY GOING TO LOOK PRETTY GOOD. ONE OF THE THINGS, TOO, AND I THINK THESE ARE GREAT QUESTIONS, IS KIND OF A SORT OF A POLICY THING, RIGHT? LIKE IF, FOR EXAMPLE, WE DIDN'T BUDGET FOR INCENTIVES AND WE DIDN'T BUDGET TRANSFER OUT YOUR LIKE CAPITAL FUNDING WE COULD GET THE BUDGET TO BE BALANCED IF YOU WILL RIGHT OH ABSOLUTELY AND THEN WE'RE COMING BACK LATER FOR BUDGET AUTHORIZATION AND WE GOT TO GO TO COUNCIL AND TO YOU ALL TO GET THAT AUTHORITY AND SO WHAT THIS DOES IS IT GIVES US THAT AUTHORIZATION KIND OF UP FRONT IT'S UM YOU KNOW THIS IS WHAT [00:50:03] WE'RE PROPOSING TO DO AND AS OPPOSED TO HAVING TO COME BACK AND HAVE THE DISCUSSION AGAIN RIGHT SO MOST OF THE DEFICIT IS ESSENTIALLY KIND OF ONE TIME OUTSIDE OF LIKE THE TRANSITION, RIGHT? VERSUS WE'RE ADDING INCREMENTAL, IT'S GOING TO BE YEAR AFTER YEAR MOVING FORWARD, RIGHT? YEAH, CERTAINLY WITH THE CAPITAL EXPENDITURES, IT WOULD BE YEAR AFTER YEAR AFTER YEAR. IT'S POSSIBLE THAT WITH REGARDS TO SACHSE ROAD, FOR EXAMPLE. AGAIN, BIGGER DISCUSSIONS TO BE HAD WITH THE COUNCIL. BECAUSE IT'S GOING TO BE LIKELY A HIGH-PRICED TAG ITEM, IT GIVES US OPPORTUNITY EACH YEAR TO BITE OFF PIECES OF THAT ELEPHANT. AND AGAIN, WITH WAYFINDING SIGN CONSTRUCTION, PERHAPS IT'S THE MDD FUND THAT'S PUTTING SOME IN, AND OVER TIME YOU'RE BUILDING UP A LITTLE BIT OF A BALANCE THERE SO YOU CAN DO THESE BIGGER PROJECTS. CAPITAL PROJECTS ARE FUNDAMENTALLY EXPENSIVE LONG-TERM ASSETS. BUT YES, IT IS A DIFFERENT WAY OF DOING THINGS THAN WE'VE DONE, CERTAINLY. NO. I DID WANT TO SHOW THE BUDGET CALENDAR. AGAIN, THIS IS BOARD DISCUSSION, NEW ACTION. THERE'S GOING TO BE EARLY CITIZEN INPUT ON THE BUDGET AT COUNCIL. THERE ARE THERE WOULD BE A COUPLE OF, YOU KNOW, A TOWN HALL EVENT. THERE WOULD BE A BUDGET ENGAGEMENT EVENT. LAST YEAR THEY DID THE BUDGET IN BEDS EVENT. I THINK IT WAS A CONNEROSO, JUST SORT OF AN INFORMAL, YOU KNOW, COME ASK THE MAYOR QUESTIONS. SO THOSE DATES ARE TBD. I'M SURE MORE TO COME. THEY'LL HAVE A BUDGET WORKSHOP AT THE COUNCIL MEETING JUNE 15TH. YOU CAN SEE, OF COURSE, JUNE 25TH WOULD BE WHENEVER YOU ALL WOULD TAKE ACTION TO APPROVE OUR BUDGET. AND THEN, AGAIN, YOU CAN SEE THE CADENCE. FUTURE PRESENTATIONS AT THE CITY COUNCIL, THEY HAVE A LOT MORE AHEAD OF THEM. AND THEN WE WILL RECESS IN JULY AS PER THE PAST FEW YEARS. ALL BOARDS HAVE TAKEN RECESS. SO, AGAIN, THIS IS A BIG, BIG ITEM. SO CERTAINLY ANYTHING THAT YOU ALL WANT TO CAMP OUT ON, I'M HAPPY TO. OTHER QUESTIONS? ALL RIGHT. I SPENT TIME WITH JARED YESTERDAY ASKING A BUNCH OF QUESTIONS, SO THAT HELPED ME IN UNDERSTANDING. SO IF THERE ARE OTHER QUESTIONS, THANK YOU. YOU'LL SEND US, I GUESS PRIOR TO JUNE, WE'LL HAVE ANY OTHER ITERATIONS OR VARIATIONS YOU'RE GOING TO HAVE PRIOR TO THAT MEETING. SO WE'LL LOOK AT THAT BEFORE WE PROVE THAT. YOU GUYS WILL HAVE, I GUESS, AN UPDATED WORKSHEET. ALL RIGHT. THANK YOU, JARED. THANK YOU, SIR. ALL RIGHT, WITH THAT, WE'LL GO TO ITEM E, OUR ADJOURNMENT. WE WILL ADJOURN AT 7.03 P.M. THANK YOU ALL AGAIN VERY MUCH. APPRECIATE YOU. * This transcript was compiled from uncorrected Closed Captioning.