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[00:00:02]

OKAY, I VICE CHAIR

[Tax Increment Financing Reinvestment Zone No. 1 Board of Directors on July 16, 2026.]

KELLY BEHRINGER.

CALL THIS MEETING OF THE CITY OF RICHARDSON, TAX INCREMENT FINANCING REINVESTMENT.

ZONE NUMBER ONE BOARD TO ORDER.

TODAY IS JULY 16TH, 2026.

THE TIME IS 5:33 PM THE NEXT ITEM ON OUR AGENDA IS TO CALL ANY VISITORS TO SPEAK TO THE BOARD.

DO WE HAVE ANYONE WHO WOULD LIKE TO ADDRESS THE BOARD? NO SPEAKERS SEEING, NO VISITORS WHO WOULD LIKE TO SPEAK.

WE WILL MOVE ON.

THE NEXT ITEM ON OUR AGENDA IS TO REVIEW AND APPROVE.

IS THE REVIEW AND APPROVAL OF THE MINUTES FROM OUR PREVIOUS MEETING ON MARCH 5TH, 2026.

DO WE HAVE A MOTION OR AMENDMENT FOR APPROVAL OF THE MINUTES? I SO MOVE.

I WILL.

SECOND WE HAVE A MOTION AND A SECOND.

ALL IN FAVOR, PLEASE RAISE YOUR HANDS.

RIGHT.

I ON VOTE.

THOSE OPPOSED? THE MOTION PASSES BY A VOTE OF FOUR TO ZERO.

OKAY.

ALL RIGHT.

THE NEXT ITEM ON OUR AGENDA IS TO REVIEW THE TAX INCREMENT FINANCING REINVESTMENT ZONE NUMBER ONE, BUDGET FOR FISCAL YEAR 2026 THROUGH 2027.

BEGINNING OCTOBER 1ST, 2026.

MR. GASTRO.

THANK YOU MS. BARRINGER.

SO THANK YOU.

BOARD MEMBERS.

UM, AS, UH, AS MENTIONED, I'M GONNA GO OVER THE TIF DISTRICT NUMBER ONE BUDGET.

UM, WE ARE ABOUT A WEEK AND A HALF AWAY FROM GETTING CERTIFIED TAX VALUES.

SO THIS IS WHERE WE ARE BASED ON CURRENT PROJECTIONS.

GIVE YOU AN UPDATE OF WHERE WE, AT THIS POINT IN TIME, THINK WE'RE GONNA END THE CURRENT YEAR, AND THEN WHAT WE'RE LOOKING AT, UH, FOR NEXT FISCAL YEAR, AS MANY OF YOU'RE AWARE.

JUST A LITTLE BIT OF AN OVERVIEW OF TIF NUMBER ONE.

SO IT WAS ESTABLISHED BACK IN 2006.

UM, WE DID EXPAND THE FOOTPRINT FIVE YEARS AGO.

UM, AND IT IS RUNNING UP AND DOWN CENTRAL.

AND THEN WE'VE GOT, OBVIOUSLY THE EXPANSION OUT TO THE EAST WHERE WE HAD EXPANDED, UH, IT TO INCLUDE THE IQ, UM, AREA.

LOOKING AT A HISTORY OF APPRAISED VALUES, YOU CAN SEE THE RED LINE GOING THROUGH THE CHART IS WHERE WE INITIALLY HAD THE BASE YEAR TAX VALUE OF 429 MILLION.

UH, WE DID HAVE TWO DIFFERENT TIFF EXPANSIONS.

CURRENT BASE VALUE IS JUST OVER A BILLION DOLLARS AND WE ARE PROJECTING NEXT YEAR'S, UH, WHERE WE'RE AT TODAY, WE BELIEVE NEXT YEAR'S VALUE'S GONNA COME IN AT ABOUT 2.95 BILLION.

SO EVERYTHING ABOVE THAT BILLION WOULD BE, UM, WHAT'S, UH, GOING TOWARDS THE TIFF.

SO WE'RE SEEING SIGNIFICANT GROWTH OVER THE YEARS.

AND YOU CAN SEE BASED ON THE TIMING OF WHEN WE EXPANDED THE TIFF IN JANUARY 21 ACTUALLY WAS FOR TAX YEAR 22.

FIRST IMPACT WOULD BE FY 23, AND YOU CAN SEE THE JUMP UP HERE.

UM, BUT AT THAT POINT IN TIME WITH THE NEW BASE VALUE OF A BILLION, WE WERE ALREADY ABOVE 2 BILLION IN ACTUAL VALUE, UH, FOR THAT NEW, FOR FOOTPRINT FOR THE TIFF.

LOOK AT OUR BUDGET CALENDAR, UH, AND WHERE WE'RE AT TODAY.

SO WE STARTED THE PROCESS INTERNALLY IN MARCH, UM, UH, KICKING OFF BUDGET AND STARTING, UH, DEPARTMENTAL BUDGET PROJECTIONS THROUGH MAY.

HAD MEETINGS WITH BUDGET OFFICE AND CITY MANAGER'S OFFICE PREPARING OUR INDIVIDUAL BUDGETS.

JUNE AND JULY.

THERE'S BEEN SEVERAL, UH, WHAT WE CALL DEEP DIVES WHERE SPECIFIC, UM, DEPARTMENT OPERATIONS ARE SHARED WITH THE COUNCIL.

UM, THAT WILL HELP INFORM, UM, SOME OF THE KEY INITIATIVES THAT ARE THEN, UH, WITHIN THE CITY MANAGER'S BUDGET THAT'S PRESENTED IN AUGUST.

UM, TONIGHT WE'RE GOING OVER BUDGET PROJECTIONS AS THEY STAND TODAY.

AND AS I MENTIONED IN ABOUT A WEEK AND A HALF, UH, ACTUALLY LESS THAN THAT, UH, WE SHOULD RECEIVE OUR CERTIFIED TAX VALUES, UM, FROM BOTH APPRAISAL DISTRICTS.

AND THAT WILL HELP US FINALIZE, UH, NUMBERS FOR BOTH, UH, THE, THE TIFF BUDGETS AS WELL AS FOR FOR THE CITYWIDE BUDGET OF COURSE.

AND THEN AUGUST 3RD AND FOURTH, WE HAVE COUNCIL BUDGET WORKSHOPS.

UH, AND THEN TWO WEEKS LATER, THE, UH, CITY MANAGER PRESENTS THE BUDGET, UH, TO OUR COUNCIL.

AND THEN THROUGH SEPTEMBER.

AND THEN FINALLY LEADING TO ADOPTION, SEPTEMBER 21ST, THERE'S PUBLIC HEARINGS ON TAX RATE AND BUDGET, UH, LEADING UP TO FINAL ADOPTION FOR THE MEMBERS OF THE PUBLIC TO TO WEIGH IN AND, AND AND SEE, UM, WEIGH IN REGARDING THE BUDGET.

A LOOK AT TIFF NUMBER ONE, BUDGETING SPECIFICALLY.

UH, YOU'LL RECALL THAT, UH, WE PROVIDE A HUNDRED PERCENT OF OUR INCREMENT.

UM, SO ANY OF THE TAX TAXES GENERATED ABOVE THAT BASE VALUE WITHIN THE TIF FOOTPRINT, UH, THOSE PROPERTY TAXES FOR THE CITY GO DIRECTLY INTO TIF, TIF NUMBER ONE'S, UH, FUND, SO NOT ELIGIBLE

[00:05:01]

FOR GENERAL FUND OPERATIONS.

UH, AND THEN DALLAS COUNTY PROVIDES A 65% TIFF INCREMENT.

UM, THAT IS UP UNTIL EITHER DECEMBER, 2027 OR CONTRIBUTION REACHED 17.8 MILLION.

HAPPY TO SAY THAT, UM, THE PROJECTION IS THAT WE'LL ACTUALLY HIT THAT CAP OF THE 17.8 MILLION CONTRIBUTION THIS NEXT FISCAL YEAR.

UM, AND SO THAT'S, THAT'S GREAT, UM, TO, TO SEE.

AND THEN, WE'LL, I WILL GO OVER KIND OF OUR CASH FLOW PROJECTIONS AND, AND, AND GIVE YOU A LOOK AT WHAT THAT LOOKS LIKE.

BUT WE, WE MEET EVERY MONTH, BOTH ECONOMIC DEVELOPMENT, CITY MANAGER'S, OFFICE AND FINANCE DEPARTMENT.

WE MEET MONTHLY TO GO OVER THE STATUS OF CURRENT PROJECTS.

UM, ARE THERE ANY NEW AGREEMENTS THAT ARE BEING CONSIDERED, ANY NEW INCENTIVES, THINGS LIKE THAT, JUST SO WE CAN CONTINUALLY, UH, REFINE WHERE WE'RE AT IN THE FINANCIAL POSITION.

WE HAVE SEVERAL DIFFERENT THINGS THAT THE FINANCING PLAN, UM, ESTABLISHED FOR THIS TIF, UH, ALLOWS FOR, AND YOU'LL SEE, UM, THAT WE SPEND THE MONEY ON, UH, NAMELY STUDIES, INFRASTRUCTURE IMPROVEMENTS, ED, UH, GRANTS, ANY LAND ACQUISITIONS AS IT RELATES TO ECONOMIC DEVELOPMENT WITHIN THE AREA AS WELL AS OPERATIONS AND MAINTENANCE.

UM, WITHIN, WITHIN THE FOOTPRINT OF THE TIFF, WE TAKE A MULTI-YEAR APPROACH TO THE FORECASTING.

UM, BEYOND THE CURRENT YEAR AND THE YEAR THAT WE HAVE SOME PROJECTIONS FOR NOW, WE DO PROJECT OUT.

UH, THE REVENUES GROWING ABOUT THREE AND A HALF PERCENT PER YEAR, UM, JUST TO BE, UH, ON THE MORE CONSERVATIVE SIDE OF WHAT THAT GROWTH WOULD LOOK LIKE.

UH, AND, AND THEN WE, UH, WE DO CONTINUALLY UPDATE THAT AS WE HAVE MORE INFORMATION.

UM, FOR, FROM D AD.

UM, FOR TIFF, NUMBER ONE, DIGITAL REALTIES, UH, A BIG WIN, A BIG, UM, PLUS FOR WITHIN THE TIFF THAT WE HAD AN AGREEMENT WITH THEM AND IT WAS PAID BACK VERY QUICKLY AND IS PROVIDING A LOT OF CASH FLOW FOR, FOR THE TIFF.

UM, REALLY HELPING ALLOW US TO FUND A LOT OF DIFFERENT, UM, UH, IMPROVEMENTS AND DIFFERENT ECONOMIC DEVELOPMENT INCENTIVES.

ON THE EXPENDITURE SIDE, WE, WE BUILD IN, WHEN WE KNOW A PROJECT IS BEING PUT IN PLACE OR WE HAVE AN AGREEMENT SIGNED, UH, WE, WE LOAD UP ALL OF THE CASH PROJECTIONS OF WHAT THAT OUTLAY IS GONNA LOOK LIKE.

UH, AT THAT POINT IN TIME, JUST TO MAKE SURE WE ARE, UM, CONSERVATIVELY FORECASTING AND NOT SPENDING MONEY TWICE, SO TO SPEAK.

WE WANNA, WE WANNA PLAN THAT AHEAD.

SPEAKING OF THE MULTI-YEAR FORECAST, HERE'S A LOOK AT WHERE WE ARE TODAY AND THEN LOOKING FOUR YEARS OUT INTO THE FUTURE.

SO THE FIRST COLUMN, FY 26 ESTIMATE, YOU CAN SEE, UH, WE'RE PROJECTING TO, UM, SPEND DOWN TO HAVE A FUND BALANCE OF ABOUT 8.9 MILLION.

AND THEN NEXT YEAR, UH, THAT DROPS TO ABOUT 4.6 MILLION.

I'LL BE ABLE TO, I'LL GO INTO IN FUTURE SLIDES, UH, SOME OF THE DETAIL BEHIND THOSE NUMBERS.

BUT YOU CAN SEE, UH, GOING OUT MULTIPLE YEARS, KINDA WHAT THAT FUND BALANCE LOOKS LIKE BASED ON WHAT WE'VE ALREADY GOT PROGRAMMED IN WITH PROJECTS.

ON THE REVENUE SIDE.

LOOKING AT THIS YEAR, UH, WE'RE PROJECTING WE'RE GONNA, UH, BRING IN 11.7 MILLION IN REVENUE, UH, FROM THE CITY COUNTY, AND THEN INTEREST AS WELL AS SOME OTHER REVENUE SOURCES.

AND THEN PROPOSE BUDGET WHERE WE'RE LOOKING, I MENTIONED THE, THE, THE CAP THAT'S GONNA BE, UH, APPROACHED MOST LIKELY THIS NEXT FISCAL YEAR FROM THE COUNTY SIDE.

THAT'S WHY YOU'LL SEE, ALTHOUGH WE'RE PROJECTING AN INCREASE IN TAX VALUES, COUNTY CONTRIBUTION TO THE TIF ACTUALLY DROPS FROM THIS YEAR, ROUGHLY 2 MILLION NEXT YEAR, IT, IT WOULD HIT THAT CAP.

SO WE'RE ESTIMATED IT'D BE ABOUT 1.8 MILLION AND THAT'S THE EXPLANATION THERE.

AS OPPOSED TO THE CITY SIDE, YOU SEE SOME GROWTH IN THE TAX VALUE TRANSLATING INTO INCREASED REVENUE HERE.

HERE'S A LOOK.

UM, JUST A MORE CONSOLIDATED LOOK, UH, AT LOOKING AT, UM, FOR THE CURRENT YEAR AND NEXT YEAR, UM, MATCHES UP WITH THE PREVIOUS SLIDE TWO SLIDES AGO REGARDING THE CASHFLOW FORECASTING.

SO NOW ON THE, ON THE EXPENSES SIDE, SO WE HAVE SEVERAL KEY CATEGORIES THAT WE TRACK, UM, AND WE'VE GROUPED THOSE.

SO WE'VE GOT THE ACTIVE DEVELOPMENT AGREEMENTS, SO THOSE ARE THE ONES LIKE, LIKE A BRICK ROW, LIKE AN EAST SIDE PHASE TWO, UM, LIKE BELT AND MAINE WHERE WE'VE GOT AGREEMENTS AND WE ARE, UH, PAYING THEM ANNUALLY BASED ON THE, UH, TAX GROWTH GENERATED FROM THAT DEVELOPMENT.

UM, WE'VE ALSO GOT, UH, CAPITAL IMPROVEMENTS, UM, AND I'LL GO IN FUTURE SLIDES INTO DETAIL THERE.

OPERATING EXPENSES, STUDIES, OTHER ONE-TIME INCENTIVES AS WELL AS GENERAL ADMINISTRATIVE CHARGES TO THE TIF ON THE ACTIVE DEVELOPMENT AGREEMENT SIDE.

SO I MENTIONED BRICK ROW, EAST SIDE PHASE TWO, AND DEVELOPMENT MAINE.

YOU CAN SEE.

NOW I DO JUST WANNA POINT OUT FOR BELT AND MAINE, THE REASON IT GOES FROM, UH, YOU KNOW, AN ESTIMATED 2.4 MILLION

[00:10:01]

THIS YEAR AND THEN IT DROPS DOWN TO 600,000 WITHIN THAT $2.4 MILLION AMOUNT.

THAT INCLUDES SOME, UM, ONE TIME INCENTIVE.

SO ONE OF THAT IS THE BILLING AND TENANT IMPROVEMENT GRANT.

UM, THAT WAS A MILLION DOLLARS.

AND THEN ALTHOUGH IT HASN'T YET BEEN PAID OUT, UM, WE HAVE WORKED, WE HAVE PUT INTO THE CASH FLOW, UH, THERE IS A $1 MILLION CASH GRANT THAT THEY'RE ALSO ELIGIBLE FOR AT THIS TIME.

SO WHEN THOSE ONE TIME ITEMS GO AWAY, THAT'S WHEN IN FUTURE YEARS, YOU'RE GONNA SEE IT MORE IN THAT 600,000 RANGE AND THEN GO UP OR DOWN BASED ON TAX VALUES, CAPITAL IMPROVEMENTS.

SO WE FINISH OUT GLENVILLE DRIVE CONTRIBUTIONS FROM THE TIFF, UH, AS WELL AS MAIN STREET PHASE TWO AS WE'RE PROJECTING TO HAVE THOSE ALL, UH, FINISHED OUT THIS YEAR.

POLLEN'S BRIDGE.

SO YOU'LL NOTICE THAT THIS YEAR WE HAD BUDGETED TWO AND A HALF MILLION COMING OUT OF THE TIF.

NOW IT'S 125,000.

WHAT ENDED UP HAPPENING IS JUST BECAUSE OF DELAYS IN THE PROJECT, UM, WE'RE JUST PROJECTING TO HAVE SOME OF THE PROFESSIONAL SERVICES, SOME OF THE ENGINEERING SERVICES ASSOCIATED WITH THE PROJECT PAID OUT THIS YEAR.

AND THE REST OF THE COSTS THAT'S CONTRIBUTED FROM THE TIFF IS GONNA BE SLIDING INTO NEXT YEAR.

IT'S POSSIBLE A YEAR FROM NOW I'M SITTING HERE AND SAY IT'S SLID A LITTLE BIT FURTHER AND WE DON'T FINISH ALL 4.2 MILLION NEXT YEAR.

WHATEVER HASN'T BEEN SPENT WOULD THEN MOVE INTO 28.

BUT WE'RE, WE'RE, FOR PLANNING PURPOSES, WE'RE PUTTING IT ALL IN 27 AT THIS TIME.

OPERATING EXPENSES, SO JUST ANNUAL MAINTENANCE, UM, UH, AFFILIATED WITHIN THE TIF.

UM, AND THEN, UH, MAIN STREET PARKING LEASE, WE HAD SOME PAYMENTS, UH, THAT'S PAYMENT OF THE TAXES ON THAT.

UM, AND THEN, UH, EVENT PROGRAMMING WITHIN, UH, THE CORE AREA AS WELL AS ED DEPARTMENT.

SO THE TIFF DOES HELP, UH, CONTRIBUTE AND PAY PORTION OF THE SALARIES OF SOME OF THE, UH, MEMBERS OF THE ECONOMIC DEVELOPMENT DEPARTMENT CONSULTING SERVICES.

WE, WE ZEROED THAT OUT.

DON'T ANTICIPATE HAVING ANY MORE AT THIS TIME JUST BECAUSE OF WHERE WE'RE AT IN THE LIFE OF THE TIF.

THAT WOULD BE IF WE WERE TO, UM, REEVALUATE THE FINANCING PLAN, MAKE ANY CHANGES, BUT WE'RE ONLY, YOU KNOW, FIVE YEARS AWAY FROM THE TIFF EXPIRING.

SO AT THIS POINT, DON'T, DON'T ANTICIPATE NEEDING ANY OF THOSE COSTS STUDIES IN ONE-TIME.

INCENTIVES GOT THESE IN A COUPLE BUCKETS.

SO ONE IS THE MODERNIZATION GRANTS AND INCENTIVES THAT HAVE BEEN EXECUTED.

SO THESE WOULD BE FOR AGREEMENTS WHERE WE HAVE A SIGNED AGREEMENT IN PLACE AND WE KNOW WE'RE GONNA BE PAYING THEM QUESTION OF WHICH YEAR, DEPENDING UPON THE DIFFERENT MILESTONES REQUIRED WITHIN THE AGREEMENTS.

BUT THAT'S WHAT THOSE ARE.

AND THEN WE'VE GOT POTENTIAL PROJECTS.

THIS IS WHEN DURING THOSE MONTHLY MEETINGS WE DISCUSS PROJECTS THAT WE HAVE OFFERS OUT ON OR WE'RE CONSIDERING AND EVALUATING AT THAT POINT IN TIME.

WE'LL, WE'LL PROGRAM THEM INTO OUR CASHFLOW FORECASTING JUST TO MAKE SURE WE'VE GOT FUNDS SET ASIDE AND DEDICATED IF WE DO END UP HAVING AN EXECUTED AGREEMENT.

AND THEN THE LAND PURCHASE, UH, DOWN AT TEXAS STREET THAT'S RELATED TO THE DOWNTOWN DEVELOPMENT, UM, THERE.

AND SO THAT WAS FUNDED THROUGH, UM, TIFF NUMBER ONE.

WE HAD SPENT, UM, LITTLE SHY OF 1.4 MILLION FOR THAT.

THAT'S ALL I HAD ON TIFF, NUMBER ONE FOR THE BUDGET, OR I HAD SOME POTENTIAL MEETING DATES THAT I THOUGHT WE COULD HAVE FOR DISCUSSION TO, TO SEE WHAT WOULD WORK FOR THE TIFF MEMBERS.

BUT BEFORE WE JUMP INTO THAT, DOES ANYBODY HAVE QUESTIONS OVER WHAT I PRESENTED THAT I CAN INTO MORE DETAIL ON? I'LL ASK, UH, FIVE YEARS DOWN THE ROAD WHEN THE TIFF IS COMING TO AND END, HAS THERE BEEN ANY DISCUSSION ON REESTABLISHING A PART OF THE TIFF, MAYBE THE CORE SECTION WHICH WAS ADDED ON LATER, OR DOING ANYTHING WITH THE TIFF EXTENDING THE LIFE? HAS THERE BEEN ANY, WE WE'VE HAD SOME INTERNAL DISCUSSIONS.

I WILL SAY THAT, UM, YOU KNOW, WE HAVE A FIRE MASTER PLAN AND SO WHEN THE TIFF ENDS, A LARGE PART OF THE FUNDING, UM, IN OUR CURRENT BOND PROGRAM THAT WAS APPROVED IN YEAR SIX WILL BE ISSUING TASK FOR FIRE STATION NUMBER SEVEN.

AND SO COINCIDENTALLY, THAT'S KIND OF TIMED WITH WHEN THE TIFF ENDS, SOME OF THIS FUNDING WILL COME BACK TO THE GENERAL FUND AND IT'S GONNA BE USED TO HELP SUPPORT THE FIRE STATION FIRE AND THE OPERATIONS OF THAT FIRE STATION.

SO THAT WAS PLANNED, BUT, BUT TO YOUR KIND OF ORIGINAL QUESTION, YES, I THINK WE WOULD LOOK AT, YOU KNOW, YOU WOULD PROBABLY HAVE TO REESTABLISH THE BASE THEN WHEN YOU DID THAT.

AND SO, YOU KNOW, WE'LL HAVE TO KIND OF LOOK AND SEE HOW THAT PLAYS OUT AT THAT TIME.

OKAY, GREAT.

THERE WAS A SLIDE AND IT, YOU HAD THE PROJECTED SEVERAL BACK FOR THE ORIGINAL BUDGET FOR THIS YEAR, AND THEN THE ACTUAL BUDGET, IT WAS FOR, UM, ONE OF THE ZONES, UH, IT MIGHT'VE BEEN BELT AND MAINE.

OKAY.

AND THERE WAS A, YEAH, HERE, THE ORIGINAL AND THE ESTIMATOR.

WHAT HAPPENED WITH THIS, THE DIFFERENCE OF THE 3.1 MILLION

[00:15:01]

VERSUS 2.4? DO YOU KNOW? I KNOW THERE WAS, UM, I'D HAVE TO GO BACK AND DOUBLE CHECK.

THAT'S, THAT'S A GREAT QUESTION.

I, I, I BELIEVE I, I NEED TO GO BACK AND DOUBLE CHECK.

I BELIEVE SOME OF THAT WAS THAT WE THOUGHT WE WEREN'T GONNA PAY ALL OF THE BUILDING, THE BUILDING RELATED GRANTS.

SO WE HAD BUILDING GRANTS FOR $2 MILLION, TENANT GRANTS FOR A MILLION DOLLARS.

AND I BELIEVE AT THIS TIME LAST YEAR, WE HAD NOT PROGRAMMED IN THAT WE THOUGHT WE WERE GONNA SPEND ALL OF THE BUILDING GRANT IN FY 25.

AND SO WE HAD PROJECTED SOME OF THAT WAS GONNA ROLL FORWARD INTO 26 MM-HMM .

WHICH IS, BUT WHAT WE ENDED UP BEING ABLE TO DO IS WE DID PAY THE FULL 2 MILLION IN BUILDING GRANTS IN FY 25.

SO I CAN GO BACK AND DOUBLE CHECK THAT, CONFIRM THAT AND SEND THAT OUT TO THE BOARD.

BUT I BELIEVE THAT'S WHAT HAPPENED IS WHEN WE WERE SITTING HERE THIS TIME LAST YEAR, WE DIDN'T THINK WE WERE GONNA BE ABLE TO SPEND ALL 2 MILLION FOR THE BUILDING GRANTS AND WE ENDED UP BEING ABLE TO DO IT.

BUT LET ME CONFIRM THAT AND SEND THAT OUT TO THE BOARD AFTER THE MEETING SWITCHED.

THE F FFY 27 ISN'T THE, UH, A TIMING ISSUE PUSHING BACKWARDS? YOU THINK IT WAS PAID FULL? YES.

YES, I BELIEVE SO BECAUSE THEY'RE THE EXACT NUMBER'S ABOUT 14 GRAND.

OH, FINE.

YEAH, I WILL.

UH, BUT I WILL CHECK THAT.

THANK YOU.

YEAH.

ANY OTHER QUESTIONS ON TIFF? ONE, DO WE WANT TO DISCUSS MEETING DATES AT THIS TIME OR MARCH 3RD NEXT YEAR? YEAH, AND WE HAVE IN THE PAST TENTATIVELY PUT SOME DATES ON CALENDARS AND THEN AS WE GET A LITTLE BIT CLOSER, IF THERE'S SOME SCHEDULING CONFLICTS WE TRY TO WORK OUT WITH YOU WHAT WORKS AT THAT TIME.

SOMETIMES IT'S BEEN HELPFUL TO GET SOME DATES ON THE CALENDAR.

YEAH.

I DON'T KNOW WHAT'S GOING ON MARCH 3RD, BUT I GOT IT OTHERWISE, WELL, IF NEEDED, I CAN SEND SOMETHING OUT WHEN I ANSWER THE QUESTION ABOUT WHAT HAPPENED WITH BELT AND MAIN.

YEAH.

I CAN ALSO ASK, HEY, WOULD YOU PLEASE WEIGH IN ON YOUR AVAILABILITY FOR THESE DATES, IF THAT WOULD WORK BETTER? AND THAT WAY WE CAN MAKE SURE THE, THE BOARD CHAIR IS A PART OF THAT DISCUSSION AS WELL.

YES.

I KNOW THE 28TH AND 20 OH NO, OCTOBER.

YEAH, OCTOBER.

YEAH, THAT LOOKS GOOD.

OKAY.

OKAY.

WELL IF WE'RE GOOD, UM, , ARE THERE ANY BOARD MEMBERS WHO WOULD LIKE TO MAKE ANY FURTHER COMMENTS? THAT CONCLUDES THE ITEMS ON THE AGENDA FOR THIS EVENING WITH NO FURTHER ITEMS TO DISCUSS.

THIS MEETING IS ADJOURNED AT 5:51 PM.