[00:00:01]
[Tax Increment Financing Reinvestment Zone Nos. 2 & 3 Board of Directors on July 16, 2026.]
KELLY BEHRINGER.CALL THIS MEETING OF THE CITY OF RICHARDSON, TAX INCREMENT FINANCING REINVESTMENT ZONE NUMBERS TWO AND THREE.
THE TIME IS 5:57 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? WE HAVE NO SPEAKERS SEEING NO VISITORS WHO WOULD LIKE TO SPEAK? WE WILL MOVE ON.
THE NEXT ITEM ON THE AGENDA 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? YOUR ATTORNEY.
AND I'LL SECOND WE HAVE A MOTION AND A SECOND.
ALL IN FAVOR, PLEASE RAISE YOUR HAND.
MOTION PASSES BY A VOTE OF FOUR TO ZERO.
AGAIN, THE NEXT ITEM ON OUR AGENDA IS SILVER LINE AESTHETIC ARCHES UPDATE.
SO WITH US TODAY, WE HAVE, UH, NEWLY PROMOTED ASSISTANT DIRECTOR OF TRANSPORTATION MOBILITY.
HE'S GONNA PROVIDE AN UPDATE ON THE SILVER LINE AESTHETIC ARCHES, UH, WHICH AS YOU ALL KNOW, IS, UH, PARTIALLY FUNDED THROUGH TIF DOLLARS FOR TIFS TWO AND THREE, UH, ARE CONTRIBUTING TO IT.
SO I THOUGHT IT VERY TIMELY WITH ONE OF THE TWO ARCHES ALREADY UP AND THE OTHER ONE PENDING HERE IN A WEEK OR SO.
UM, SO DANIEL, IF YOU'D LIKE TO PROVIDE AN UPDATE TO THE BOARD.
WHAT'S THE BEST WAY TO GET PRESENTATIONS? SO, SO WE'LL GO THROUGH JUST KIND OF PROJECT BACKGROUND VISION, UM, A LITTLE BIT OF THE BACKGROUND ON IT, ALTHOUGH, UH, IF YOU'VE BEEN HERE LONG ENOUGH, YOU PROBABLY HAVE GOTTEN THE BACKGROUND ON SOME OF THE, THE AGREEMENTS THAT CAME INTO IT.
UM, LOOK THROUGH THE DESIGN AND THEN SOME OF THE CONSTRUCTION OVERVIEW NEXT STEPS, UH, JUST AS TODD HAD SAID, HOW, UH, YOU'RE KIND OF HALFWAY THROUGH AT THIS POINT ON THE CONSTRUCTION.
SO YOU'LL KIND OF, UH, WE HAVE A FEW PICTURES IN THERE, KIND OF WHAT LOOK, WHAT IT LOOKS LIKE TODAY.
UM, AND THEN TALK ABOUT, UH, REALLY WHAT'S COMING, UH, NEXT WEEK.
UM, DAR SILVER LINE 26 MILE REGIONAL RAIL.
SO CONNECTING FROM DFW AIRPORT ALL THE WAY INTO, UH, THROUGH RICHARDSON AND PLANO.
UH, RICHARDSON HAS TWO STATIONS.
THEY'RE AT UTD AS WELL AS, UH, ONE AT CITY LINE CONNECTING IN WITH THE RED LINE, ORANGE LINE AS PART OF THE LIGHT.
UM, THEN ALSO AT DFW YOU CAN ALSO CONNECT IT INTO THE TEXT RAIL, WHICH GOES INTO DOWNTOWN FORT WORTH.
UM, AS PART OF RICHARDSON'S AGREEMENT, UH, BACK IN 2018, UH, THERE WAS AN INTERLOCAL AGREEMENT BETWEEN THE DART AND THE CITY OF RICHARDSON, UH, REGARDING THE KIND OF BRIDGE ENHANCEMENTS OVER 75.
UH, JUST KNOWING THE IMPORTANCE OF THIS CROSSING AND KINDA THE VISIBILITY THAT THERE IS, UM, WITHIN, UH, INTO THE COMMUNITY, UH, AT THIS LOCATION.
UM, AND REALLY BUILDING IT HAS TAKEN, YOU KNOW, OR ALMOST 10 YEARS LATER, AND I THINK A LOT OF THE CONCEPTS WERE BEFORE THAT 2018 ILA.
AND SO, UH, YOU KNOW, 10 PLUS YEARS HAVE BEEN TALKING ABOUT THIS AND REALLY ENVISIONING IT AND, UM, ALL THAT COORDINATION BETWEEN THE CITY DART, TDOT AND THEN THE CONTRACTOR OF HOW DO WE ACTUALLY GET IT BUILT, UM, WHERE THERE'S A LOT OF DIFFERENT AGREEMENTS AND DESIGN REVIEW AND COORDINATION INVOLVED TO, TO ACTUALLY MAKE IT HAPPEN.
UM, KIND OF PROJECT VISION GOING, YOU KNOW, TAKING A STEP BACK, UH, IS REALLY, AGAIN, THAT VISUAL IDENTITY AT A PROMINENT CROSSING IN THE COMMUNITY.
UH, TAKING THAT OPPORTUNITY WHERE WE'RE, UH, YOU KNOW, CREATING A FEATURE ACROSS US 75, HOW DO WE ENHANCE THAT THAT IS NOT JUST KIND OF A SIMPLE BRIDGE, YOU KIND OF, UH, IGNORE, BUT HOW DO WE, UH, REALLY, UH, MAKE IT AN IDENTITY AND GATEWAY FEATURE INTO THE COMMUNITY? UM, BOTH FOR DRIVERS, UH, WHO ARE PASSING BY AS WELL AS, YOU KNOW, THOSE WHO MAY BE RAIL PASSENGERS, UM, AND PEDESTRIANS, UH, SINCE THERE IS A A, A TRAIL IN THIS AREA AS WELL.
UM, AND THEN BRINGING IN THAT, UH, CITY BRANDING CORRIDOR VISION, UM, AS PART OF THAT.
AND SO LOOKING AT THAT DESIGN OVERVIEW, UM, YOU KNOW, COMING DOWN FROM KIND OF A US 75, YOU'RE GONNA BE KIND WHAT YOU WOULD SEE, UM, TO, YOU GOT, UH, CONCRETE COLUMNS, UH, FOUR FOR EACH, UH, UM, ARCH, AND THEN TWO OF THOSE STEEL ARCHES THAT ARE OFFSET.
UM, SO ONE OF THEM WILL BE OVER KIND OF THE, THE SOUTHBOUND FRONTAGE ROAD.
ONE OF 'EM WILL BE OVER THE EASTBOUND FRONTAGE ROAD, BUT THEY'LL BOTH BE, UM, SPANNING THE MAIN LANES OF, OF US 75.
UH, TO GET A LITTLE BIT OF SCALE HERE, UH, THIS IS ABOUT 80 FEET TALL OFF THE GROUND, UM, AT KIND OF THE HIGHEST POINT OF IT.
UH, AND EACH OF THOSE IS ABOUT 400 FEET LONG.
UH, I GOT SOME PICTURES HERE OF, UH, KINDA THE FABRICATION,
[00:05:01]
UH, IN A COUPLE SLIDES.BUT, UM, YOU'LL SEE JUST, YOU KNOW, THE ARCHES AT THE TOP.
THEY, THEY LOOK KINDA SMALL WHEN YOU LOOK AT A GRAPHIC LIKE THIS.
BUT REALLY LOOKING AT SCALE, UM, YOU KNOW, THOSE ARE FIVE FEET TALL, 12 FEET WIDE AT THE TOP.
UH, THEY'RE KIND OF TAPERED THERE.
UM, AND THEY ACTUALLY DO HAVE TO BE MAINTAINED.
SO, UM, UNFORTUNATELY FOR SOMEONE THEY HAVE TO CRAWL IN THERE, UM, TO, TO MAINTAIN THOSE OVER TIME.
UH, AND SO IT'S ANOTHER KIND OF COORDINATION EV EFFORT WITH FIRE DEPARTMENT WHO MAY OR MAY HAVE TO RESCUE SOMEONE IN CASE SOMEONE DOES GET STUCK IN THERE.
SO THEY'RE HOLLOW AND SO, YEAH, SO THEY ARE HOLLOW.
YOU'LL SEE SOME PICTURES HERE IN A MINUTE.
UM, KINDA LOOKING AT IT FROM A NIGHTTIME, UM, AGAIN, KIND OF BRINGING THAT RICHARDSON BRANDING INTO IT.
UH, THERE'S, UH, DIFFERENT LIGHTING ELEMENTS, SO KIND OF THREE DIFFERENT ELEMENTS.
THERE'S UPLIGHTING, UH, ONTO EACH OF THE COLUMNS.
THEN FROM THE RAIL BRIDGE OUT THERE, RIGHT THERE, RIGHT, RIGHT NOW, UH, THERE'S SEVERAL, UH, KIND OF WHITE UPLIGHTS, UH, THAT'LL POINT AND KIND OF LIGHT UP THE BOTTOM OF EACH OF THOSE ARCHES.
UM, AND THEN AT THE TOP OF EACH COLUMN, THERE'S THESE THREE EDGE LIT RINGS.
UM, THAT'LL ALSO, UH, BE BLUE, UH, JUST TO KIND OF, UH, BRING THOSE FEATURES TOGETHER.
AS FAR AS THE CONSTRUCTION, YOU KNOW, YOU'VE PROBABLY SEEN THE COLUMNS OUT THERE FOR A WHILE.
THEY'VE BEEN KIND OF SITTING OUT THERE WAITING ON, UH, THE ARCHES TO COME IN.
UH, THE ARCHES, UH, WERE GETTING FABRICATED.
UM, AND THOSE ACTUALLY BECAUSE OF HOW LARGE THEY WERE, THEY GOT FABRICATED IN TWO DIFFERENT LOCATIONS.
ONE WAS IN TEXAS, ONE WAS IN ARKANSAS.
AND, UH, THAT'S A WHOLE OTHER COORDINATION OF HOW DO YOU TRANSPORT THEM, UH, BECAUSE OF HOW LARGE THEY ARE.
UH, THERE'S SPECIAL APPROVALS THEY HAVE TO GET TO EVEN KIND OF USE, UH, MAJOR ROADWAYS TO TRAVEL.
AND THEN ONCE THEY ARRIVE, THEY, THEY'VE ALL ARRIVED IN RICHARDSON NOW, UM, KIND OF SOUTH OF THE DOG PARK.
THEY HAVE A CONSTRUCTION YARD, THAT'S WHERE THEY'RE STORING THEM.
UM, AND THEY DO SOME KIND OF FINAL CON UH, UH, ASSEMBLY IN THE YARD, UM, AS THEY PREPARE FOR CONSTRUCTION.
AND SO NOW WE'RE MOVING INTO MORE OF THE ARCHED INSTALLATION.
AND SO THEY HAVE DIFFERENT PICKS WHERE THEY'RE KIND OF PICKING UP EACH PIECE.
EACH OF THOSE ARCHES IS SPLIT INTO THREE SEGMENTS.
UM, AND SO EACH NIGHT THERE'S, THEY'RE PICKING UP ONE.
UH, SO YOU SAW BACK IN JUNE THAT SOUTH ARCH GETTING PLACED AND ALL THE CLOSURES ASSOCIATED WITH THAT.
UH, NEXT WEEK, SO JULY 23RD, UM, THESE ARE ALL AT NIGHT.
SO THURSDAY NIGHT, JULY 23RD THROUGH SUNDAY NIGHT, JULY 26TH, UH, THE NORTH ARCH WILL BE GETTING PLACED.
UH, THAT'S ALL PENDING WEATHER AND, YOU KNOW, HIGH WINDS KIND OF AVOIDING ANY OF THAT.
UM, AND A LOT OF KIND OF THE SEPARATION BETWEEN THE TWO HAS ACTUALLY BEEN DUE TO THE WORLD CUP, UH, WHERE TDOT'S JUST NOT ALLOWED, UM, MAJOR CLOSURES LIKE THIS DURING, UH, THE WORLD CUP EVENTS.
UM, DURING THAT, UM, OBVIOUSLY JUST FOR THE SAFETY, THE RAIL DID NOT DURING THOSE CLOSURES.
UM, BUT THEY DO OPERATE A BUS BRIDGE, UM, BETWEEN UTD STATION AND, UM, CITY LINE STATION.
SO THE SILVER LINE OVERALL IS OPERATIONAL, BUT YOU JUST HAVE KIND OF A BRIDGE BETWEEN THOSE TWO STATIONS.
UH, SINCE THE RAIL, UH, THE TRAINS ARE NOT ABLE TO RUN ACROSS THIS BRIDGE, UH, A LITTLE MORE DETAIL OF IT.
SO THURSDAY NIGHT IS KIND OF THE, PROBABLY THE LEAST IMPACT.
IT'S REALLY, THEY'RE JUST MOVING SOME PIECES INTO PLACE.
UM, AND SO THEY'VE GOT CLOSURES FROM 9:00 PM TO 4:00 AM KIND OF LISTED REALLY, YOU KNOW, BY KIND OF 11 O'CLOCK MIDNIGHT, THEY'RE USUALLY DONE.
UM, I'LL SHOW SOME PICTURES FROM THE FIRST ONE THOUGH, JUST KIND OF HOW THEY, HOW THEY MOVE THOSE.
CAN I TAKE A PICTURE OF THAT? SURE.
BECAUSE I WAS AT THE FIRST ONE.
AND, UM, THERE'S A GROUP OF US THAT WERE OVER THERE WATCHING.
IT IS ONE, I'M LIKE, YOU PROBABLY SET UP AT THE HOTEL.
NO, I CAN GIVE THEM THE SCHEDULE.
YOU COULD PROBABLY, WE'LL ALSO SHARE ALL THE PRESENTATIONS WITH YOU AS WELL.
UM, FRIDAY NIGHT'S GONNA BE THE MOST IMPACT FROM A TRAFFIC, UH, PERSPECTIVE, UM, BECAUSE THE MAIN LANES OF BOTH NORTHBOUND AND SOUTHBOUND 75 ARE GONNA BE FULLY CLOSED.
SO ALL OF THOSE WILL HAVE TO DETOUR ONTO THE FRONTAGE ROAD.
UM, NIGHT THREE, IT'S A LITTLE BIT LESS.
UM, SO, YOU KNOW, FRIDAY NIGHT, SO NIGHT TWO, UH, THEY'RE WORKING ON KIND OF THE ORANGE SEGMENT THERE.
UM, AND THEY HAVE TO CLOSE MAIN THE NORTHBOUND LANES BECAUSE OF THE, WHERE THE CRANE IS.
SO THEY HAVE TWO CRANES THAT TAKES TO PICK IT UP.
AND SO ONE CRANE'S ON THE SOUTHBOUND LANES, ONE CRANE'S ON THE NORTHBOUND LANES, UM, NIGHT THREE.
UH, SO SATURDAY NIGHT, UH, THEY'RE PLACING THAT EAST, THE GREEN SECTION.
UM, AND SO THEN YOU END UP WITH CLOSURES.
UH, BOTH THE, BOTH OF THE CRANES MOVE.
AND THEN, SO THEY'RE ONLY CLOSING THE NORTHBOUND SIDE.
THEY'RE NOT HAVING TO CLOSE SOUTHBOUND.
UM, AND THEN SUNDAY, IT'S THAT BLUE ONE ON THE WEST SIDE WHERE IT'S ACTUALLY ONLY AN IMPACT ON THE FRONTAGE ROAD, WHERE THE FRONTAGE ROAD WILL BE FULLY CLOSED.
UM, BUT MAINLY THE TRAFFIC WILL BE ABLE TO OPERATE, UM, THROUGH THIS.
AGAIN, A LOT OF COORDINATION IS INVOLVED.
SO T DOT HAD TO REVIEW BOTH, YOU KNOW, HOW'S THE ARCH DESIGNED, UM, PLANNED TO BE CONSTRUCTED, AS WELL AS ALL THE TRAFFIC CONTROL PLANS.
UM, AND THAT WAS AN ELEMENT KIND OF BACK AND FORTH OF HOW MUCH CLOSURE CAN THEY ACTUALLY ACCEPT.
UM, 'CAUSE THERE MAY BE AN EASIER WAY TO BUILD THIS, BUT,
[00:10:01]
UM, HOW MUCH TRAFFIC, UH, IMPACT ARE YOU REALLY CREATING IN THAT, UM, COORDINATION THEN WITH NTTA, KINDA WITH PRE, UH, GEORGE BUSH AND SOME OF THOSE CLOSURES THERE.UM, AS WELL AS CITY OF PLANO, JUST ESPECIALLY WITH SOUTHBOUND, THERE'S IMPACTS, UM, WITH TRAFFIC BACKING UP INTO PLANO.
AND THEY DO GET SOME PEOPLE KIND OF DETOURING ONTO PLANOS ROADS, UH, JUST TO TRY TO GET AROUND THE BACKUPS.
UH, THE CONTRACTOR DOES HIRE OFF-DUTY POLICE OFFICERS TO HELP MANAGE ALL THOSE CLOSURES TO, TO MAKE IT GO AS SMOOTH AS POSSIBLE.
UM, AND THEN WE HAVE COORDINATION.
UH, WE ACTUALLY, SO LIKE NEXT WEEK, YOU KNOW, IT STARTS THURSDAY NIGHT.
ON TUESDAY WE'LL HAVE A MEETING WITH THE CONTRACTOR, POLICE, FIRE DEPARTMENT, OUR COMMUNICATIONS TEAM, UM, OUR EMERGENCY MANAGEMENT AS WELL, UM, JUST TO GET EVERYONE KIND OF ON THE SAME PAGE, REMIND THEM HERE'S WHAT TO EXPECT, UM, AND GET ANY KINDA LAST MINUTE, UH, ELEMENTS INVOLVED THERE.
AND THEN, YEAH, TRAFFIC SIGNALS, WE'LL BE MONITORING THOSE AS WE'VE GOT SOME LESSONS LEARNED FROM JUNE.
BUT LOOKING AT, UH, THIS ONE OF HOW DO WE, UH, KIND OF PREPARE AS PEOPLE TO GET ON THE FRONTAGE ROAD MORE.
UM, AND THEY START USING OTHER KIND OF SIDE ROADS, LIKE, UH, SOUTHBOUND ONE OF 'EM WAS ACTUALLY ON ALMA DOWN TO RENTER, UM, PEOPLE, UH, TRYING TO COME IN OUT, OUT OF PLANO, DOWN THAT WAY.
UH, THERE IS DIFFERENT NOTICING.
SO, UH, YOU'LL START SEEING THAT, UH, WHERE YEAH, THEY'RE GETTING THEIR MESSAGE BOARDS OUT THERE FROM THE CONTRACTOR.
UM, SO YOU'LL SEE THOSE AND SEE RICHARDSON GETTING OUT, OUT ON SOCIAL MEDIA AND ALL THE, THE DIFFERENT CHANNELS THAT WE HAVE.
UM, AND THEN, UH, EACH NIGHT, YEAH, THERE'LL BE COMMUNICATION FROM TEX KIND OF T HAS THEIR MESSAGE FOR, ITS JUST TO WARN, UH, PEOPLE TO TRY TO GET OFF ON 6 35 OR SOMETHING IF THEY'RE COMING FROM THE SOUTH.
UM, JUST TO TRY TO AVOID, UH, GETTING STUCK IN, IN THE MESS OF IT ALL.
GETTING INTO SOME PICTURES NOW.
SO I THINK THE REST OF THIS IS, UH, REALLY JUST GOT PICTURES, UH, THAT WE CAN TALK THROUGH.
SO THIS IS ARCH FABRICATION, SO THIS IS KIND OF WHAT DOES THE INSIDE OF THOSE LOOK LIKE? UH, YOU CAN SEE SOME OF THOSE PICTURES PER SCALE OF JUST SEEING SOME PEOPLE NEXT TO IT OR SOME OF THE MACHINES, UM, JUST TO SEE HOW TALL THEY ARE.
UM, KIND OF WHAT, ESPECIALLY FROM A MAINTENANCE PERSPECTIVE, WHAT SOMEONE MAY HAVE TO CRAWL THROUGH.
UH, A FEW PICTURES FROM THE, THE SOUTH ARCH.
UH, SO MOVING 'EM, YOU CAN SEE THAT PICTURE ON THE LEFT.
UH, THAT'S HOW THEY WALK IT KIND OF DOWN THE SOUTHBOUND FRONTAGE ROAD.
UM, AND THEN THAT PICTURE ON THE BOTTOM IN THE MIDDLE, UM, THEY ACTUALLY TAKE IT ALL THE WAY UNDER RENTER.
THEY HAVE TO FULLY CLOSE THAT 75 AND RENNER INTERSECTION, UH, FOR ABOUT 15 MINUTES, 15 TO 20 MINUTES.
THEY CLOSE THAT FULLY, UM, UH, TO PULL IT THROUGH THE INTERSECTION AND THEN KIND OF UP THE NORTHBOUND FRONTAGE ROAD TO WHERE, UH, THEY'LL PLACE IT.
UH, AND THEN THEY HAVE THAT PICTURE ON THE, THE RIGHT THERE.
YEAH, YOU CAN SEE KIND OF, I'M SURE WHAT YOU SAW THE FIRST TIME OF.
YEAH, I THINK I HAVE SOME OF THOSE ON MY
UM, AND HOW THEY KIND OF PICK IT TO, UH, TO PLACE IT UP THERE.
AND THEN, UH, YEAH, THERE'S WORKERS UP THERE.
UM, THIS IS HOW THEY START KIND OF JOINING 'EM TOGETHER.
UM, SO YOU SEE HOW KIND OF THEY START INTERWEAVING, UM, AND THEN THERE'S SOME PLATES THAT THEY HAVE TO, UM, REALLY JOIN TO, TO CONNECT THE DIFFERENT PIECES TOGETHER.
YOU SAID IT'S ALL CONCRETE, RIGHT? STEEL, THE COLUMNS ARE CONCRETE.
THE, UM, ARCH ITSELF IS STEEL.
SO, SO IT IS STEEL, UM, AND THEN IT'S A, IT'S PAINTED WHITE AND SO BASED OFF KIND OF A T STANDARD, UM, PAINT SYSTEM THAT'S GOING TO HAVE MORE DURABILITY THAN JUST SOMETHING YOU MAY BUY.
THIS IS KINDA WHAT IT LOOKS LIKE TODAY.
AND SO KINDA WITH THAT SOUTH ARCH, UH, OUT THERE RIGHT NOW.
UM, AND THEN, YEAH, WE'LL BE GETTING THAT NORTH ARCH SOON.
UM, SO WE'LL BE KIND OF WORKING OVER THE NEXT WEEK PREPARING, DO KIND OF FINAL PREPARATION, GETTING COMMUNICATIONS OUT THERE.
UM, AND THEN, YEAH, NEXT WEEK WE'LL START THE INSTALLATION OF THE NORTH ARCH AND THEN FINAL LIGHTING, UH, ONCE THEY GET THAT ARCH UP, THEY DO HAVE SOME FINAL WORK, JUST TRYING TO GET ALL THE LIGHTING IN PLACE, GETTING THAT CONTRACTOR, UM, MOVING AND THEN KIND OF GETTING ALL THE SETTINGS IN THERE, UH, WHERE THEY'RE SAYING, UM, POSSIBLY LATE AUGUST, PROBABLY SEPTEMBER BEFORE KIND OF IT'S FULLY LIT UP.
UM, AND SOME OF THAT HAS TO DO WITH, THERE'S SOME OF THE LEAD TIME ON SOME OF THE LIGHTING, UM, EQUIPMENT THAT THEY'RE WORKING ON, UM, LOOKING LIKE KIND OF SEPTEMBER TIMELINE TIMELINE MOST LIKELY, UH, WHERE IT'LL REALLY LOOK COMPLETE AND KIND OF TOWARDS THAT, THAT RENDERING THAT I'LL TAKE.
ANY QUESTIONS? THAT WAS THE COOLEST, COOLEST THING TO WATCH.
I WAS THERE ONE NIGHT, BUT THE REST OF THE GROUP, I, WE WERE THERE WITH MARK.
AND THE REST OF THE GROUP, UM, WAS THERE, I THINK EVERY NIGHT THE WHOLE TIME.
I WANNA, I WANNA SEE IT AGAIN.
SO, WELL, YOU'LL HAVE ANOTHER CHANCE.
TODD WANTS TO KNOW IF WE CAN CRAWL INSIDE THE ARCH
WELL, I THINK THAT'S ACTUALLY THE NEXT MEETING.
WHY DO THEY NEED, IT'S GONNA BE A VERY LARGE AVER.
WHAT MAINTENANCE DID DO THEY DO INSIDE? UM,
[00:15:01]
SO THEY HAVE TO INSPECT IT.AND SO IT IS PART OF OUR AGREEMENT WITH DART AND WE HAVE A, WE'RE WORKING ON KIND OF A MAINTENANCE MANUAL, UH, WITH DART, UM, AND THE CONTRACTOR.
UM, AND IT'S A TEXT OUT REQUIREMENT AS WELL AS JUST AS A STRUCTURE THEY NEED TO MAKE SURE IT'S NOT GONNA FALL DOWN ON TOP OF TRAFFIC.
UM, AND SO YEAH, THEY HAVE TO MAINTAIN, UM, AND DO I FORGET IF IT'S EVERY YEAR OR EVERY TWO YEARS.
YEAH, THEY HAVE TO GET IN THERE, UM, INSPECT, YOU KNOW, WE KIND OF SAW HOW THEY WERE JOINED, MAKE SURE ALL THOSE CONNECTION POINTS, ALL THE JOINTS, UM, ARE STILL, THEY LOOK GOOD.
THEY'RE NOT, YOU KNOW, ROUGHING OR CORRODING OR, SO DOES THAT HIRE YOUR KIDS TO DO THAT? I WAS THINKING YOU'RE LOOKING FOR SOMETHING TO DO IN RETIREMENT.
SO THAT MEANS THEY'RE CRAWLING.
YOU'D HAVE TO HAVE YOUR SUNK, YEAH.
OR YOU COULD BE LIKE ON A LITTLE ROLLING THING.
I MEAN, IT'S ALL THAT, THAT'S SUBSTANTIAL.
BUT IF YOU'RE SIX FEET TALL, IT'S A LITTLE ROUGH.
ARE YOU SIX FEET THESE DAYS? NOT YET.
AND I, THEY'RE REALLY GOOD TO SEE 'EM LIT UP THAT SO, SO, SO COOL.
ALRIGHT, THE NEXT ITEM ON OUR AGENDA IS TO REVIEW THE TAX INCREMENT FINANCING REINVESTMENT ZONE NUMBERS TWO AND THREE BUDGETS FOR FISCAL YEAR 2026 AND 2027, BEGINNING OCTOBER 1ST, 2026.
SO WE'LL BE GOING OVER BUDGETS FOR THE COMING YEAR.
WE'LL TAKE A SNAPSHOT, LOOK AT WHERE WE ARE TODAY AND THINK WE'RE GONNA END THE CURRENT FISCAL YEAR.
AND THEN BASED ON OUR PRELIMINARY TAX VALUE PROJECTIONS, UH, WHERE WE THINK WE'RE GONNA LOOK IN FY 27.
UM, AS A REMINDER, WE'RE GONNA BE RECEIVING CERTIFIED TAX VALUES IN A LITTLE OVER A WEEK.
AND SO ONCE WE RECEIVE THOSE AND CRUNCH THE NUMBERS, WE'LL BE ABLE TO REFINE THESE BUDGETS, UH, THAT WILL EVENTUALLY BE INCORPORATED INTO WHAT, UH, OUR CITY MANAGER PRESENTS TO COUNCIL HERE IN A FEW WEEKS.
WITH THAT SAID, WE'LL START WITH TIFF NUMBER TWO.
UH, SO Y'ALL RECALL IT, IT WAS ESTABLISHED BACK IN 2011.
UH, IT IS, UH, IT'S REALLY ON THE EAST SIDE OF 75, RIGHT ON THE EAST SIDE OF THE, THE DART RED LINE THERE.
UM, GOING EAST, UH, ENCOMPASSING THE, THE STATE FARM AREA, RAYTHEON, YOU KNOW, QUITE, QUITE A BIT OF THAT DEVELOPMENT THERE AT CITY LINE.
UH, AND THEN GOING NORTH UP TO GEORGE, GEORGE BUSH A LOOK AT PROJECTIONS, UH, WHERE WE'RE AT.
SO, UH, YOU CAN SEE FROM THE CHART WE STARTED WITH A BASE YEAR VALUE OF 37,000.
UH, AND, AND NOW WHERE WE SIT TODAY, UH, SO CERTAINLY DEMONSTRATES THE EXTREME VALUE OF, OF LEVERAGING THIS, UH, FINANCING TOOL THAT, THAT WAS THAT PROPER HIDDEN AGRICULTURAL EXEMPTION.
THE VALUE IS MUCH, MUCH HIGHER THAN 37,000 EXEMPTION.
AND SO WE ARE PROJECTING THAT WE'RE GONNA BE AT, UH, A LITTLE OVER 1.3 BILLION, UH, FOR THE COMING FISCAL YEAR, UH, WHICH IS RIGHT ON TARGET, UM, WITH WHAT OUR FINANCING PLAN, UH, ACTUALLY PROJECTED AT THIS POINT IN TIME.
UM, SO ON THE CITY SIDE, UH, WE'RE PROJECTING TO FINISH THIS YEAR A LITTLE OVER 4.6 MILLION IN TAXES AND PRO PROJECTING NEXT YEAR TO BE 4.8 MILLION IN TAXES GENERATED.
THAT'S UTILIZING OUR CURRENT TAX RATE.
SO OBVIOUSLY THAT NOT ONLY THE VALUE SUBJECT TO CHANGE, BUT ONCE WE RECEIVE THOSE VALUES, UM, AND COUNCIL HELPS DETERMINE WHAT THAT, UH, FINAL TAX RATE WILL BE FOR THE COMING YEAR.
UH, BUT THAT'S WHAT THAT PROJECTION IS BASED ON.
AND THEN ON THE COUNTY SIDE FOR ITS CONTRIBUTION, UM, PROJECTING 966,000 IN CHANGE THIS YEAR AND GROWING TO JUST SHY OF A MILLION, UH, FOR, FOR THE COMING FISCAL YEAR, INTEREST PROJECTION JUST DEMONSTRATES THAT THERE IS THE ASSUMPTION THAT WE'RE GONNA SEE A LITTLE BIT OF RATE INCREASES OVER THE NEXT YEAR, YEAR TO YEAR AND A HALF BASED ON WHAT WE'RE HEARING FROM THE FED AT THIS TIME.
[00:20:01]
QUESTION? YES.SO ON THE APPRAISED VALUES, WHERE DOES THAT IMPACT THESE NUMBERS? IS, IS IT ON THE TAX SIDE? UM, SO YES.
SO THAT'S GOING TO GENERATE, OKAY, SURE.
SO IF THE APPRAISED VALUES, WHEN THOSE COME IN, THAT'S WHERE WE'RE GETTING TO OUR 1.3 BILLION.
AND THEN IF I'M UNDERSTANDING YOUR QUESTION, RIGHT, SO THEN BASED ON WHAT OUR TAX RATE IS, IS WHERE WE'RE SEEING THE, THE CITY TAXES, THAT'S WHERE YOU WOULD SEE THE ADJUSTMENT BASED ON THE APPRAISED VALUE? YES.
AND THEN OBVIOUSLY WITH THE COUNTY, WE'RE ASSUMING CURRENT TAX RATE FOR THE COUNTY, SO ANY CHANGES TO THAT WOULD ALSO IMPACT WHAT THAT LOOKS LIKE, COLLIN, THE RANK? YES.
TIF TWO AND THREE ARE ALL IN COLLIN COUNTY, CORRECT? ON THE EXPENSES SIDE.
UH, SO FOR TIF TWO, UM, THERE'S REALLY TWO DRIVERS OF, UH, THE EXPENSES.
SO ONE IS, UH, WITH OUR DEVELOPER AGREEMENT, UM, YOU KNOW, FORMERLY KDC, THE BCS TIF ZONE TWO, UH, WE ARE ESTIMATING, WE, WE UH, WELL ACTUALLY WE, WE KNOW 'CAUSE WE'VE ALLOCATED THAT PAYMENT 4.9 MILLION, UH, IN CHANGE, UH, FOR THE CURRENT FISCAL YEAR.
WE'RE PROJECTING THAT GROWS TO MORE LIKE 5.3 MILLION NEXT YEAR.
UH, JUST BASED ON THE CURRENT ESTIMATED GROWTH IN THE VALUES WITHIN THE TIF RELATIVE TO THE CURRENT YEAR, YOU'LL NOTICE THAT DART, UM, WAS PROJECTED TO, UH, HAVE AN OUTLAY OF OVER 6.2 MILLION IN THE CURRENT FISCAL YEAR.
NOW WE HAVE THAT AT ZERO AND THAT'S BECAUSE WE'VE BEEN CARRYING, UM, THE ALLOCATION THAT DART IS ELIGIBLE TO RECEIVE.
WE'VE BEEN CARRYING YEAR AFTER YEAR AND WE HAVEN'T YET RECEIVED A FORMAL PAYMENT REQUEST WITH BACK BACKUP DOCUMENTATION TO BE ABLE TO MAKE THAT PAYMENT.
AND SO AT THIS POINT IN THE YEAR, WE'RE NOT ANTICIPATING GETTING THAT IN TIME TO, TO SPEND THOSE FUNDS THIS YEAR.
SO WE'VE ROLLED THAT FORWARD AND PUT IT INTO NEXT FISCAL YEAR.
UM, AND WE'LL CONTINUE TO DO THAT TILL THEY SUBMIT THEIR PAYMENT REQUEST.
UM, AND SO, BUT THAT'S WHY YOU'LL SEE THAT BALANCE WILL CONTINUE TO GROW UNTIL WE MAKE THAT, UM, THAT FIRST PAYMENT.
HERE'S A LOOK AT THE BUDGET, UM, COMPARING CURRENT YEAR TO NEXT YEAR, UM, WITH REVENUES AND EXPENSES TOGETHER, UH, YOU'LL SEE THE CURRENT YEAR WE'RE ESTIMATING WILL END AT ABOUT 6.4 MILLION.
AGAIN, THAT'S PRIMARILY DUE TO US HAVING NOT PAID DART AND NOT PROJECTING TO PAY DART HERE IN THE NEXT COUPLE MONTHS.
UH, FOR THE PROPOSED BUDGET, WE'RE ANTICIPATING PAYING ALL OF THAT IS OWED AND BRINGING IT DOWN TO THE RESERVE FUND BALANCE OF FI $50,000 IS WHAT WE'RE CURRENTLY PROJECTING IF AND WHEN DART SUBMITS PROPER PAPERWORK MM-HMM
IS THE PAYMENT, IS IT A FIXED DOLLAR AMOUNT THE MONTH AFTER? SO LET'S SAY THEY SUBMIT EXPENSES FOR 15 MILLION THAT ARE ELIGIBLE EXPENSES ON DART LINE WITHIN TIF TWO AND THREE, AND WE DON'T YET HAVE THAT FULLY WITHIN THE FUND.
WE'LL PAY WHAT WE HAVE AVAILABLE WITHIN THE TIF FUND AND THEN EACH YEAR THEREAFTER AS UH, TAX REVENUES GENERATED AND GOES INTO TIF TWO, THEIR ALLOCATED PERCENTAGE OF THAT WE WOULD PAY AGAINST THAT REMAINING BALANCE THAT WE HAD NOT YET PAID.
SO THEY, MY HOPE IS THAT THEY WILL SUBMIT ALL THEIR EXPENSES AT ONE TIME.
AND THEN THAT WOULD BE A BOUNCE WE DRAW DOWN AGAINST EACH YEAR.
SO THEIR PORTION IS 11.67%? CORRECT.
SO IF YOU RECALL, 66.67% OF THE INCREMENT GOES INTO THE TIF FUND AND THE DEVELOPER GETS 55%.
ORIGINALLY THEY GOT THE FULL 66, BUT ONCE DART'S FINANCING IN PLACE, THE WAY THE AGREEMENT WORKS IS THEN THE DEVELOPER STEP DOWN TO 55% AND THEN THE OTHER 11.67% GOES TO DART FOR CONSTRUCTION OF THE SILVER LOAN.
AND THEN THE PAYMENT, YOU SAID IT WOULD DRAW DOWN OVER THE YEAR, SO THERE'S, IS IT MONTHLY? NO, WE WOULD, WE WOULD MAKE ONE PAYMENT.
AND THAT'S HOW WE HANDLE LIKE OUR DEVELOPER PAYMENTS AS WELL.
SO LIKE FOR THE PAYMENT WE MADE THIS YEAR TO BCF TIF ZONE TWO, THAT 4.9 MILLION, THAT WAS ONE PAYMENT.
WE WAIT TO MAKE SURE WE'VE, WHERE HAVE WE RECEIVED IN TAXES? HAVE WE RECEIVED THE COUNTY'S CONTRIBUTION? WE WAIT TILL ALL OF THAT'S FLUSHED OUT AND THEN IN JUNE, UM, WE, WE ISSUE THAT PAYMENT.
HOW MANY YEARS HAS DART NOT REQUESTED A PAYMENT? IT'S BEEN A FEW.
WELL, UH, SO WE STARTED, THEY STARTED RECEIVING THEIR ALLOCATION IN FY 20.
AND SO FROM THAT TIME WE'VE BEEN BUILDING IT, BUT OBVIOUSLY AT THAT POINT IN TIME THERE WASN'T A LOT OF DART RELATED EXPENSES.
AND AGAIN, HONESTLY, MY PREFERENCE IS THAT THEY WAIT TILL THEY'VE GOT 'EM ALL FIGURED OUT.
AND RATHER THAN SUBMIT EVERY SINGLE YEAR AND THAT WAY, BECAUSE IT'S GONNA BE A LOT OF PAPERWORK THAT WE'RE GONNA BE ASKING FOR TO VERIFY, NOT JUST THESE ARE THE EXPENSES AND YOU PAY THEM, BUT ALSO IT'S FOUR DART RELATED
[00:25:01]
COSTS WITHIN OUR TIF ZONES.SO IT'S NOT GONNA BE, UH, SO I THINK FROM THAT STANDPOINT, ADMINISTRATIVELY MY HOPE IS THEY SUBMIT ONE LARGE PACKET YEAH.
THAT WE GO THROUGH AND THEN WE JUST DRAW DOWN FROM THAT BALANCE EVERY YEAR.
BUT WE KIND OF SUSPECT THEY'RE WAITING UNTIL THEY GET THE S COMPLETED AND SO FORTH AND THEN THEY, THEY'LL BE ABLE TO SUBMIT EVERYTHING AT ONCE, BUT IN THE MEANTIME WE'RE EARNING INTEREST.
NOW TURNING TO TIFF THREE OR ANY OTHER QUESTIONS ON TIF TWO BEFORE I TURN TO THREE? ARE YOU CLOSE? NOPE, IT'S STILL THE SAME MEETING.
I JUST BEFORE I JUMP TO THREE.
ALRIGHT, SO TIF THREE STOP RAINING.
GREAT PRESENTATION FOR TIF THREE.
IT WAS ESTABLISHED AT THE SAME TIME AS TIF TWO.
UM, IT'S ON THE EASTERN EDGE OF IT IS, UH, BUDDING UP AGAINST TIF TWO.
UM, SO IT'S ON THE WEST SIDE OF THAT RED LINE CROSSES OVER, YOU GOT THE DREWRY THERE AND IT CROSSES OVER.
UM, OBVIOUSLY WHERE THE ARCHES ARE LANDING IS RIGHT THERE WITHIN TIF THREE.
UM, AND THEN IT GOES WEST, UM, WHERE YOU'VE GOT GREAT CHURCH, YOU'VE GOT THE, THE DOG PARK AND, AND THE, SOME OF THAT UNDEVELOPED LAND.
HERE'S A, HERE'S THE PROJECTED VALUES.
UM, AND YOU'LL NOTICE, AND IT'LL BE THE SAME STORY YEAR AFTER YEAR, UM, WHEN THE FINANCING PLAN WAS PUT IN PLACE, UM, THERE'S AN ANTICIPATION THAT WE'D BE ABLE TO, UM, PROBABLY DEVELOP MORE OF THAT AREA AND OBVIOUSLY THAT DIDN'T ANTICIPATE, UM, UH, SOME PRIZE REAL ESTATE SO TO SPEAK, THAT WOULD'VE BEEN DEVELOPABLE, UH, BECOMING TAX EXEMPT.
AND SO, UH, THAT'S SOMETHING THAT I, I DON'T ANTICIPATE UNLESS SOMETHING SIGNIFICANT CHANGES THAT WE'D EVER CATCH UP, SO TO SPEAK, WITH WHAT THE FINANCING PLAN WAS.
BUT ALL THAT SAID, BASE VALUE FOR TIF THREE WAS AT $11 MILLION.
AND TODAY AT WHAT WE'RE PROJECTING WE'RE, WE'RE PROJECTING ABOUT 279 MILLION FOR, FOR THE COMING FISCAL YEAR.
SO STILL SEEING SOME SIGNIFICANT GROWTH OVERALL.
UM, YOU KNOW, THROUGH THE DEVELOPMENT OF THE TIF ON THE REVENUE SIDE, CITY TAXES ANTICIPATING ABOUT 955,000, UH, FOR THE CURRENT YEAR THAT GROWING SLIGHTLY TO 970,000 FOR THE COMING YEAR.
UH, AGAIN, BASED ON CURRENT UH, PROJECTIONS SUBJECT TO CHANGE HERE IN A LITTLE OVER A WEEK WHEN WE GET CERTIFIED VALUES AS WELL, IF THERE'S ANY CHANGE TO THE TAX RATE, UM, UP OR DOWN DURING THE BUDGET PROCESS THAT WOULD IMPACT THAT ON THE COUNTY SIDE, UM, WE'RE SEEING UH, ROUGHLY $200,000 EACH YEAR.
UM, NO, NO MAJOR SIGNIFICANT CHANGES THERE.
AND INTEREST EARNINGS, VERY SIMILAR.
SLIGHT GROWTH BASED ON PROJECTED INCREASE IN UM, UH, INTEREST RATES OVER THE NEXT YEAR TO YEAR AND A HALF FOR THE PAYMENTS COMING OUTTA TIF THREE.
SO WE'VE GOT THE DEVELOPER PAYMENT, UM, WHICH IS UH, THEY GET 55% OF THE INCREMENT OF THE 66.67% THAT THE CITY CONTRIBUTES.
UH, 55% OF THAT GOES TO BC STATION PARTNERS.
UH, THIS YEAR WE PAID OUT A LITTLE OVER A MILLION DOLLARS PROJECTED BASED ON VALUE GROWTH THAT THAT WOULD GROW SLIGHTLY, UM, THE COMING YEAR.
AND THEN DART, UH, SIMILAR STORY AS TIF TWO HAS NOT YET REQUESTED, UM, UH, PAYMENT.
SO WE ARE CARRYING THE DART BALANCE FORWARD.
WE HAD PROJECTED, UH, 1.1 MILLION BEING PAID THIS YEAR.
DON AT THIS POINT IN TIME BELIEVE THAT'S GONNA OCCUR.
SO WE'RE ROLLING THAT FORWARD.
AND IF IT WERE TO BE PAID AS WELL AS THE NEW INCREMENT COMING IN NEXT YEAR, UH, WE THINK WE'D BE PAYING ROUGHLY ABOUT 1.3 MILLION TO DART.
SO ARE THEY HAVING TO SUBMIT MULTIPLE TIMES PER TIFF? THEY CAN SUBMIT ONE PACKET FOR ALL OF IT, EVERYTHING.
AND THEN HERE'S, HERE'S A MORE OF A GLOBAL VIEW JUST WITH THE REVENUES AND EXPENSES TOGETHER.
UH, AGAIN, THIS CURRENT YEAR ENDING AT 1.3 MILLION IS THE PROJECTION.
MOST OF THAT IS DUE TO THE DART PAYMENT THAT HASN'T BEEN MADE.
AND THEN, UH, FOR NEXT YEAR AT 175,000.
SO YOU'LL NOTICE, WHEREAS TIF TWO IS PROJECTED TO END RIGHT AT 50,000, WHICH IS THE RESERVE, UH, AMOUNT, UH, TIF THREE ALSO HAS A RESERVE OF 50,000.
BUT THERE'S ALSO SOME UNALLOCATED PARCELS WITHIN HERE THAT ARE NOT SPECIFICALLY DEDICATED TO WHAT THE DEVELOPER'S GETTING.
AND SO FROM THAT STANDPOINT, THAT'S WHY WE DO HAVE SOME ADDITIONAL, UM, TAX REVENUE THAT'S WEST OF 75 THAT'S NOT GOING TO UM, NOT GOING TO THE DEVELOPER.
SO THAT'S WHY THAT BOUNCES ABOVE THE 50,000.
YOU SAW IN THE TIF TWO EXAMPLE, WHEN DOES TIF THREE END? SO THIS WOULD BE 2036 AS WELL AS TIF TWO.
SO THESE WERE SET UP FIVE YEARS AFTER TIF ONE.
[00:30:01]
20, 31, 2 AND THREE END 2036.SO IF WE GET DOWN TO THE RESERVE BALANCE AND THERE'S NOTHING GOING ON, IT'S STILL OPEN.
ONCE WE CLOSE OUT AND WE'VE PAID ALL THE OBLIGATIONS REQUIRED, THEN AT THAT POINT, UM, CORRECT ME IF I'M WRONG,
BUT THAT'S BASED ON ALL THE OBLIGATIONS BEING PAID OFF OF COURSE.
SO FOR EXAMPLE, DEVELOPER AGREEMENTS THAT ARE THROUGH THE LIFE OF THE TIFF, ONCE WE MADE THAT FINAL PAYMENT THE FINAL YEAR THAT THE PAY THAT THE TIFF IS ACTIVE, YOU KNOW, THEY'D BE DONE UNLESS WE HAVE SOME OUTSIDE AGREEMENT TO EXTEND THAT.
BECAUSE IN THIS TIFF THERE REALLY ISN'T MUCH ELSE TO HAPPEN.
NO, I THINK THERE'S NOT, OUR AGREEMENTS CAN KIND OF HAVE US KEEP A $50,000 FUND BALANCE JUST TO KIND OF HELP US KIND OF KEEP THINGS.
BUT I THINK THAT FUND BALANCE, IF THAT'S ALL THAT WAS LEFT ROLLED TO THE DEVELOPER, 'CAUSE THAT'S KIND OF THEIRS PER THE AGREEMENT.
BUT THAT EXCESS YOU'RE TALKING ABOUT, THAT'S WEST 75 THAT WOULD, THAT COULD ROLL BACK TO US.
'CAUSE THAT'S NOT PART OF THEIRS.
SO THE ROLL THAT ROLLBACK IS SPECIFIED WHEN YOU CREATED THE TIFF? IS THAT, DID YOU SAY WHEN, WHEN IT'S OVER? NO.
WELL AND NO, IT'S REALLY KIND OF JUST BECAUSE IF THERE'S MONEY REMAINING IN THE TIF THAT HASN'T BEEN SPENT, UM, I BELIEVE THAT COULD COME BACK.
BUT YOU KNOW, WE PROBABLY NEED TO DOUBLE CHECK THAT AS WELL JUST TO MAKE SURE THERE'S NOTHING KIND OF IN THE STATE STATUTE THAT SAYS IT HAS TO STILL BE SPENT WITHIN THE EXISTING TIF.
AND THEN A LOOK AT FUTURE MEETING DATES.
WE DON'T HAVE ALL OF THE BOARD MEMBERS HERE, SO, UM, UNLESS THEY WANT YOU WANNA HAVE DISCUSSION HERE TONIGHT, MY PLAN WOULD BE TO EMAIL OUT TO THE BOARD MEMBERS AND COORDINATE FUTURE MEETING DATES, UM, TENTATIVELY SOMETIME IN MID TO LATE OCTOBER, UM, AS NEEDED.
AND THEN, UM, YOU KNOW, WE CAN OBVIOUSLY ADD ON ADDITIONAL MEETINGS AS KEY PROJECTS COME UP, OR IF THERE'S AN INTERESTING TOUR THAT WOULD BE RELEVANT FOR THE BOARD MEMBERS IF WE GET TO ROLL THROUGH THE, OR IF YOU IT MIGHT, IT MIGHT TAKE A YEAR OF APPROVALS TO GET, MAKE THAT HAPPEN.
I'M NOT SURE THAT A RISK MANAGEMENT PERSON WOULD,
I MEAN, WHAT DO YOU DO FOR A RIBBON CUTTING FOR THAT? COME ON.
YEAH, YOU NEED YOUR CLIMBING EQUIPMENT.
AND, AND THEN, UM, LOOKING AT ANNUAL REPORTS, SINCE WE'RE ONLY A FEW MONTHS AWAY FROM WRAPPING UP THE FISCAL YEAR, UH, IN THE SPRING RIGHT AROUND THE TIME WE'RE WRAPPING UP AUDIT FOR THE CITY'S, UH, CITYWIDE AUDIT, UM, WE'D WANNA, UH, MEET, MEET AGAIN TO GO OVER AND REVIEW THE ANNUAL REPORTS WITH THE BOARD.
AND THAT'S ALL I HAVE UNLESS THERE'S ANY OTHER QUESTIONS ABOUT TEST TWO AND THREE, I CAN ANSWER.
ARE THERE ANY OTHER BOARD MEMBERS WHO WOULD LIKE TO MAKE ANY FURTHER COMMENTS? OKAY.
THAT CONCLUDES THE ITEMS ON THE AGENDA FOR THIS EVENING WITH NO FURTHER ITEMS TO DISCUSS.
THIS MEETING IS ADJOURNED AT 6:30 PM.