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Hey, you ready to get started, John? 00:00:00
Hello. Check checking in Hello. 00:00:05
We're going to call the meeting to order the Redevelopment Commission. Tracy, you want to do work off? 00:00:08
Here. 00:00:15
Here. 00:00:20
Here. 00:00:22
All right, we do have a quorum. 00:00:24
First item of business is the election of officers for the. 00:00:27
Coming year. 00:00:31
Motion to. 00:00:33
Have. 00:00:36
Bob Woosley continue as president. 00:00:38
Do you want to you want to do them all at the same time? Sure. And a motion for Ridge to continue as Vice and Jeff, who was 00:00:42
appointed last week by the council to continue as secretary. 00:00:47
Is there any reason for a discussion? 00:00:55
Nope, you're in a minority, I am always fair to say aye. 00:00:57
Motion carries. All right. Thank you. 00:01:03
Hey, Bob, seriously, I think you do a good job. Well, I appreciate it, you know, meeting with Don and everybody out there, being 00:01:05
our steward and our ambassador, doing a really good job. 00:01:11
They're not ready. They're not ready. I know, but before next meeting. 00:01:19
What? What? 00:01:28
Yeah, before we've either stopped by and signed them. 00:01:36
The organization being Vaughn and which has the Oakland intersection. 00:01:43
Oh, OK. 00:01:47
So we don't have to follow duties until we did that. 00:01:48
It's the same members but I'm just saying whenever you get them let them know because I would like before next meeting to have. 00:01:55
Yeah, and that's what. 00:02:02
Or Teresa says they're ready and. 00:02:05
OK. And. 00:02:09
Bob, I don't know. I guess we all know this, but. 00:02:10
Melanie, I reached out to her she is going to get she's going to be reappointed or she already is. Good. I hadn't heard that. 00:02:13
Yeah, because I reached out to her. So you going to be able to you know, are you going to join us this year? And she said yes. So 00:02:18
I don't know if she even she said she needed the calendar meet the meetings and everything again for so I can I don't know I can 00:02:23
give them to him Don whatever, but. 00:02:28
Copied on this yeah. 00:02:37
OK. All right. 00:02:44
OK. And next time a business is the approval of our minutes and claims and we have actually two sets of minutes, one from our 00:02:46
regular meeting on December the 12th and one from the executive session on December the 12th. 00:02:52
And we also have a claim. 00:02:59
From. 00:03:02
Attorney's office in the amount of $810 to young women tenders to craft. So I'd entertain a motion to approve all three. 00:03:04
All set to minutes and. 00:03:13
Unless there's, unless you want to do them individually. 00:03:15
Well, I mean, look. 00:03:19
This. 00:03:21
Dewey, I'm just curious. 00:03:26
What he missed? You don't think men have said executive session? Well, it was. It wasn't, I'm sorry. It was a summary, basically. 00:03:28
OK, right. OK. 00:03:38
So that's kind of an effort. Yeah. I mean, there are no minutes. I didn't realize. Yeah, that is the minute. 00:03:41
When you started, when you ended, right? OK, who was there and that you only talked about something and that's what this says. 00:03:50
Can't make a motion to approve the minutes from. 00:03:57
December the 12th. 00:04:00
And then our executive session that was also held on December 12th and then the. 00:04:02
Claim for $810. 00:04:07
Motion made by John's there a second. 00:04:10
I'll 2nd, 2nd. 00:04:13
Any further discussion? 00:04:15
All those in favor say aye aye. 00:04:22
All right, she cares. 00:04:24
Don, you got it. You got the floor financial report. 00:04:26
Yes, yes. 00:04:32
Yes, I put that in the same motion. 00:04:34
We only had the one though, right? It was actually, we only saw the one. 810 dollars, yeah. 00:04:37
I think it's I think it's 2222 of them, but one. 00:04:43
Clean vouchers. 00:04:47
Just I will go through real quickly to give you kind of a beginning of the year financial update. I. 00:04:51
In terms of. 00:04:58
Funds, we've got approximately budgeted 90,000 in economic development. 00:04:59
11124933 Redevelopment Fund has a beginning balance of 19,540 three 59. There will be an additional preparation that will come out 00:05:07
of that. 00:05:14
We have 5000 budgeted. 00:05:22
That additional preparation will be probably about. 00:05:25
I think about 708 hundred dollars. 00:05:28
Its sponsorship, it's for the final bills with our Christmas event. 00:05:31
And then revolving loan fund is at 300 and 3214. 00:05:42
I believe and then our highlighter point Gateway district. 00:05:46
Should be about 26,000 two 8478 current. 00:05:51
That was worth a bond payment. Can I ask a quick question on the revolving line loan fund? I mean, that's it. 00:05:56
Pretty strong balance in there, yeah. What's the? 00:06:02
I guess I'm just wondering like. 00:06:07
Do we leave it alone? 00:06:09
Literally just thinking big picture. 00:06:11
What's it? The only only item we have out right now is is. 00:06:14
Edwardsville Water that you approved last year, right? That's a repayment back from. 00:06:19
Repayment back from. 00:06:31
Attached regular through Edwards of water. 00:06:33
OK. So that agreement was signed last year? 00:06:38
So and the power of that's the tip revenue is generated are those monies like if we said we wanted to use? 00:06:41
$100,000 for something else. 00:06:48
It was established. You've become guardians of that. 00:06:52
Back in 13 when the board was formed. 00:06:58
It has it started out as a volume loans fine and. 00:07:02
Back in the late 80s, I just didn't know if there was something tied to, there's nothing federally tied to it. So I think if you 00:07:07
want to review that and just thinking out loud. So that was, I had two questions. That was one of them is it what restrictions are 00:07:13
there to spend that money and then two. 00:07:19
Can you transfer it to another fund? I'd have to check this out. Could we transfer whether it's a whether it's? 00:07:26
As there's possibility, I guess let me research that and get with Justin. 00:07:36
Yeah, just curious, I know, and I'm just spitballing, but let's just say something. 00:07:40
At Nova Park, we wanted something for an incentive or something for, I don't know, just. 00:07:45
Is it? Is it doable? Is it possible? 00:07:50
OK. 00:07:54
What is the? 00:07:57
Is that a? 00:07:59
What's the rate for that loan? 00:08:00
Is it a 0 percent or? 00:08:04
Oh, the one that you did last year for this it's yes. Someone wants to try Prime, OK. 00:08:06
I think, I think the bottom is 3%, but then it's but that's something too if you want to completely look at. 00:08:16
Ramping that I know we had some small. 00:08:22
Yeah. I mean, we haven't really focused on it. I'm just asking. 00:08:25
But it's whoever we everyone has paid off or paid out and paid off and the only one outstanding is that agreement to Edwardsville 00:08:29
Water corporate and sprinkler so. 00:08:34
Good. OK. 00:08:40
All right. Sorry, I didn't mean to interrupt you. Are you finished with that with the reports not? 00:08:42
We do have someone from the public if you'd like. Do you have something that you wanted to? OK. 00:08:47
Oh, welcome to the meeting. 00:08:52
All right. Any old business done that we have otherwise we'll? 00:08:56
Roll right into new business. 00:08:59
New business. 00:09:02
I copied. I believe they are should be in your packages to. 00:09:07
Overview of our. 00:09:11
Annual Report. 00:09:14
We presented that to the County Council. That's now state requirement. 00:09:15
Also. 00:09:20
State requirement for the end of the year will be a spending plan that gets submitted to the. 00:09:22
County Council as well. So it's just kind of overviews what was, you know, our organizational, organizational. 00:09:30
Status or board information as of last year, Our year ending balances. 00:09:41
Some of our projects and events that we've done and then just a brief overview of milestones for Noble Park, so. 00:09:47
That's just for your information. 00:09:56
The next item I have to give you update on. 00:10:01
Make our make, make my move. Mr. Pike was here at your last meeting. 00:10:04
He submitted a contract. 00:10:12
Extension. 00:10:16
It's for 3/4, the total amounts 15,750 to give you an update on the program. 00:10:17
We have. We've had three individuals move since your last meeting. We've had four accepted. 00:10:26
To move. 00:10:34
And are in the process of getting ready to move. Their total income is 463,000. 00:10:36
So it's roughly. 00:10:45
I don't make me do math like 115,000 average. 00:10:49
For those movers, there's two that's been offered and that that's just short of 200,000. 00:10:56
And it's my understanding that. 00:11:03
We can access the second pot of money once we have 5 movers and five and and acceptance and Mr. Pikes here as well. 00:11:07
No. Our total contract which is actually I believe today was for 10 movers. 00:11:17
My understanding and he can and he can jump in anytime or when you when you'd like him to for us to access that second pot of 00:11:26
money we have to have. 00:11:30
Two more. 00:11:37
Relocated. 00:11:38
And five more accepted so. 00:11:40
Accepted. So so we're we're gonna make sure I'm following you down here. Hey Don. 00:11:43
Go ahead, Ryan. 00:11:48
Sorry to interrupt. To access the 2nd tranche you you you just need a total of 55 movers. So you just need two more in the move 00:11:51
status to access that second tranche. 00:11:59
Right now we have 3 that have moved and four accepted waiting to move, yes. So we've as long as one of those two of those four, 00:12:06
two of those four actually move. 00:12:12
In the court, yeah, in the quarter then we've met our requirement for the 2nd, 2nd tranche of money. 00:12:18
That that's correct. 00:12:25
The the where the where the five where the five accepted come into play is once you actually have 5 move and five accepted, then 00:12:27
we can, we can, we can, we can work towards another mover goal like a new mover goal with a whole new. 00:12:36
With a whole new sort of slew of IEDC funds, a whole new slew of matching funds, if that makes sense. 00:12:46
And that that second tranche or that new once the five movers and five acceptance are in. 00:12:54
That could also include partial payment of salaries. Is that correct with IEDC? 00:13:00
Yeah, like so, so so the. 00:13:10
The IDC contract literally just states. 00:13:13
You know that you get your first tranche when you sign up, which you've already gotten, and you get your second tranche. 00:13:17
Once you've got 5 movers in the moved status, so the the 2nd we have two more movers and move status, I'll notify you Don and 00:13:26
essentially you'll, you'll invoice the IDC that day and ideally get paid within, you know, 7 to to to 14 days. 7 to 10 days would 00:13:33
be ideal. 00:13:41
You'll get that second Tron from the IDC. 00:13:48
And then once we have five more and accepted that's what we can do, put together a new contract with brand new IEDC matching 00:13:52
funds, if that makes sense. 00:13:56
OK. 00:14:02
So what you have in. 00:14:04
Before you and. 00:14:06
Is that? 00:14:09
Remote worker extension. 00:14:13
Amendment. 00:14:15
OK, how long? 00:14:20
What's the duration of the amendment like? 00:14:22
Is it it's 50, the amount is 15,750. So what it's it's my understanding it's three months. 00:14:25
That's correct. 00:14:34
So it's five. That's 5000 / 5000 a month. A month. 00:14:35
Does it say that? 00:14:42
On page 2. 00:14:46
As the term OK term commensuration. 00:14:48
OK, did it. 00:14:52
It doesn't. 00:14:55
Say it's three months. 00:14:56
Just says upon the location of two new households and five accepted. 00:15:02
So if that takes six months. 00:15:07
It's still. 00:15:09
I'm just asking for that. 00:15:11
I follow what you're trying to say what you're saying. 00:15:17
What? No, no, no, no my my question is. 00:15:22
This amount, if we agree to this, it's 15,750. 00:15:25
For as long as it takes. That's the total amount until we get. 00:15:30
Two new households relocated. 00:15:34
And five accepted households. 00:15:37
That's the way I mean that's that's that's what I'm hiding. I think it probably a wrong question. 00:15:41
Is that right, Ryan? I mean. 00:15:49
In other words, it's a lump sum. 00:15:52
I'm sorry, go ahead. It's a lump sum amount. 00:15:56
For you to. 00:15:59
Assist us in getting 2 new households and five accepted households. 00:16:02
Where does it say a difference? 00:16:07
Yeah, that that's how I wrote it just because sort of well it says quarterly at the top for compensation, this is quarterly 00:16:10
Atopicola fulfilled. 00:16:14
Right. So that covers that covers 3 months that covered 1/4. 00:16:19
I'm sorry, He probably has a hard time hearing. Yeah, you're not. There you go. 00:16:28
If it takes two quarters, is it $30,000? 00:16:34
Because it's paid quarterly. 00:16:38
Yeah. 00:16:41
To get to get that second check from the IDC. That's correct. 00:16:44
So I guess our question is they're accountable. 00:16:51
Moving forward for the next three months, it has to see where we get because it sounds like we're. 00:16:53
We have 4 accepted now. 00:17:00
And we need two of them. You actually have six accepted right now. 00:17:03
OK, we have 6 accepted. 00:17:09
OK, correct. 00:17:14
I have Well as of this morning I had four accepted and two offered. 00:17:16
Have they lived in accepted status? 00:17:22
Yeah, Ryan, to the two that we just offered move to accepted status. 00:17:27
I don't know if it was those two or a different 2. Right now there are still 2IN offered status. 00:17:32
So what I'm looking at? 00:17:40
You've got 3. 00:17:42
You've got 3 movers and accepted status that idea that are in the green phase. So that means those those three want to move within 00:17:44
within less than three months. Then you have one in the yellow phase, which means that one of them wants to move within three to 00:17:52
six months. And then you have two of them in the in the red faith is, which means that the remaining two out of the six want to 00:17:59
move between. 00:18:06
You know, six or more months. 00:18:15
So maybe you were just looking at the green and the yellow, which is less than three months or three to six months, if that makes 00:18:17
sense. 00:18:21
So we've had three already moved. 00:18:26
Three have already moved, yes, accepted, and we've got 2. 00:18:28
So so. 00:18:34
I don't know if we want to do this on a monthly basis. Yeah, that's I'm just trying to think's an option, isn't it Ryan, that we 00:18:37
could just be billed? 00:18:40
Maybe just lost him on that. We just lost him. 00:18:45
Yeah, I'm having trouble figuring out. I don't know that I saw this. 00:18:48
Should have seen it. 00:18:52
But the IT was probably before I went to on vacation. No, I don't. I don't mean it in that way. I'm just saying I'm having trouble 00:18:54
like the move status, acceptance status actually moved like all the different. That's where I'm kind of confused. 00:19:02
I'll tell you what, I I know we've got three that's already made. We had 10 total as our goal. 00:19:11
We've got, we've already got three that have moved to the account. 00:19:18
Right, we had when I looked at it this morning. 00:19:22
We had four that may be 4 within a certain time period. So I'm going to make that assumption. Those other two farther out. 00:19:26
So we have three, moved six and acceptance. 00:19:35
We've made two more offers. Two offers, yeah. 00:19:41
So so. 00:19:44
Well, we can. 00:19:50
We got six. They've all been offered as well. Has been offered and accepted. Offered, accepted. That's correct. They're now in the 00:19:51
process of looking for housing and they're they're they're making their plans and they're not part of that. Three because they're 00:19:58
already here. Yeah. So you got 3 already here, six that have been offered and accepted and two more that have been offered. 00:20:05
That's correct. And then one more that that we've confirmed eligibility, we just haven't offered yet. 00:20:14
OK, so the question is to any. My question is to. 00:20:20
Anybody here is is this? 00:20:24
Reaching our expectations, exceeding it not. 00:20:28
Reaching what we. 00:20:32
Expected. 00:20:34
Well, I guess I want to. 00:20:35
A checkup, a progress report here from when we first began this to where we are now because we're asking to renew it. So I'm kind 00:20:37
of curious as to. 00:20:42
Where we are. 00:20:47
To answer your to answer your question. 00:20:48
I would say that we are probably at least meeting the expectations. 00:20:54
Our return on investment for this, I mean is. 00:21:00
You know, I think we set that it's. 00:21:06
We we had 10/10 was our goal. 00:21:08
Right now at. 00:21:12
If you count the. 00:21:13
Moved and ones that are have said they're accepted. We're at 9:00. 00:21:15
So. 00:21:20
You know, I would say that we lost probably about three months. 00:21:22
When we had, we went back there and we kind of looked at our incentive package. 00:21:25
I think that may be something. If we get, if we decide to do a new number, we may want to do a lower number. 00:21:31
Just to just to see where we are. 00:21:38
But. 00:21:42
But I would say, I mean from staff point of view, I think we're meeting what the expectation. 00:21:43
You know, we're now, you know our contract actually ends today. 00:21:48
99 folks have accepted. 00:21:53
Out here and and we did, like I said, lose. 00:21:57
We lost probably 3 months, kind of. 00:22:02
Walking through that first parking program, which learning curve for us? 00:22:04
Maybe. 00:22:09
I think we're at the point where we think we can finish out this contract. I would maybe suggest we did on a monthly basis. 00:22:11
Is it paying its way? 00:22:20
Oh, yeah. I mean in terms of the return on investment. 00:22:22
I mean, it's painted. 00:22:25
Yeah. So right now, I mean, I one of the kind of things I talked about when I was there last month. 00:22:28
For every dollar that's been invested, $5.43 have been generated with just those 3 movers in year one alone. So the total new 00:22:36
annual economic output generated is $213,158. And of that at this point, Floyd County with with with the first tranche of matching 00:22:46
funds from the IDC. What county has invested 39,250? 00:22:56
So we get that 200 and 13158 return on investment from total new annual consumer spending and total new annual state and local tax 00:23:06
revenue. 00:23:12
And this really is just a bridge contract. There's a, there's a remaining amount of. 00:23:19
IDC funds for you to collect. 00:23:25
Once we have two more movers, we we feel pretty confident we can get those movers by May 31st, we can get them moved by May 31st 00:23:28
with the way that the pipeline looks. So this is just an extension. 00:23:35
To kind of get you there and get you that second tranche of funding and then once you have that. 00:23:44
You know, we still have five more to move, but ideally we could put together a new contract, get additional new funding from the 00:23:51
IDC. 00:23:56
And we could even include, you know, part of part of Don's salary from sort of a program management stipend in that that's one of 00:24:02
the newer features that IEDC is kind of rolled out with our blessing, you know, this, this, this next year. So. 00:24:10
So that's kind of where the program stands today. 00:24:20
Does that make sense? 00:24:24
Yeah. So I guess we're. 00:24:26
We got upset. Do we want to do this for the? 00:24:29
Three months to see if we can get two more of these moved. 00:24:32
Or on a month to month. 00:24:36
Don which one of these? 00:24:40
Under under the file, under the financial report, Which one of these funds did we pay this out of? 00:24:43
Do we know actually we've got grant funding still available through IEC? 00:24:51
So the Taliban's debate frames booking. 00:24:58
Do we have sufficient to if we wanted to do the quarterly? 00:25:01
We wanted to do the 15th. I'm just asking we would, I mean we have, we have the remaining IDC grant funding and we've got you have 00:25:05
space available and either your 1112 fund or your 9121 fund. 00:25:13
I mean, I would. 00:25:24
I would be inclined to just go ahead and do the quarter. 00:25:26
And to give sufficient time to get. 00:25:28
I'm throwing it out there. 00:25:33
Well, staff offered monthly so I guess I don't know what the difference. Is the price the same? 00:25:37
Price is the same, I mean it just not be able to get. 00:25:42
Well, wait a minute. 00:25:46
My understanding the price is the same. 00:25:49
The per month price, yeah, so, so it's 50. So what we did is we took like the fixed cost that Floyd County paid last year and 00:25:52
broke that down to to a monthly amount. 00:25:57
But then ideally if you just do, if you do the quarterly prepaid, we knocked 10% off that as well. 00:26:04
So it's not 5250. 00:26:13
It's not just taking 15750 / 3. 00:26:16
That may be my. That may be my misunderstanding. How? 00:26:21
So you're taking, so if I heard you right, Ryan, you're taking 10% off the 15,750 if we do a quarter versus a month? 00:26:23
No, I think you're saying the monthly is higher than opposite. Sorry. 00:26:32
What? What's the monthly? What's the monthly amount? 00:26:38
5770, give me one second. I'm sorry you're getting there. 00:26:42
I think I had it right. 00:26:48
If you do it quarterly, it's cheaper. You do it monthly, it's higher. That's what I said. His monthly it's not 52, it'll be 57. 00:26:50
Well, maybe he didn't apply that. 00:27:00
We'll see. 00:27:03
Yeah. So the monthly expense would be $5833. 00:27:06
Which obviously if you multiply that. 00:27:13
By three. 00:27:16
You're looking at 17,499. 00:27:20
So then 10% off of that, that gets you down to 15,750. 00:27:23
Yeah. So it is cheaper to go quarterly. 00:27:33
Yeah. 00:27:38
I'll take that as my mistake. 00:27:41
I just I understood a conversation. 00:27:43
Or yeah. 00:27:49
I mean. 00:27:51
It's $500 a month. 00:27:54
Roughly right, a little over. 00:27:56
5:50 or so. 00:27:59
Cheaper. 00:28:05
To do it quarterly than it is to do it. 00:28:06
Exactly, I'm I misunderstood part of the previous conversation? I would think if it's cheaper than. 00:28:08
I don't know why we would. 00:28:16
While we wouldn't be in it for the quarter unless there's a compelling argument that tells us why we wouldn't really want to stick 00:28:18
this out for three months. 00:28:21
That's kind of where I'm. 00:28:25
At I mean it sounds like. 00:28:27
Satisfied we're getting a return on investment so. 00:28:30
You're going to cancel within 30 days of starting it. That's it. That's it. If you're not, you're locked into another quarter of 00:28:33
the way he's got this written. I mean, it's not real favorable to you could take the 15715 / 3 and proposed to do it monthly. 00:28:41
You could take the part where you have to cancel 60 days before the end of the term, or it keeps going to reduce that down to 30. 00:28:50
There's a number of things, but it's not real. 00:28:58
Yeah, I know what you're saying. 00:29:01
After 30 days a year. 00:29:05
You're in for the next World. That's what it says. I mean, unless you meet your goals and. 00:29:07
Terminates on its own, but. 00:29:11
I guess well, and, and we can read and I can rewrite that to kind of tailor it to whatever makes the most sense for you guys. You 00:29:14
know, part of the reason why I sort of put wrote in there when I wrote in there. And again, we're very close to accomplishing that 00:29:20
is because you know, the first goal is getting the five movers that gets you the second tranche IDC funds, you know, from the 00:29:27
first contract. 00:29:33
Once you have 5 accepted on top of that. 00:29:40
Which I think you're going to get within this, you know, the. 00:29:44
The next three months you already have. 00:29:48
Six accepted. So we just need one more accepted and out of those accepted, we need two to move. And then you can look at kind of a 00:29:51
whole new contract and matching funds from the IDC. So that's kind of why I put that in there. The other reason why I put that in 00:29:57
there is because your pipeline is healthy and and, and you're sitting with I don't think we have, I think the concern is the 00:30:04
termination language so. 00:30:11
Want to pay for another quarter if that's not really? 00:30:18
Right, go ahead. So Ryan, what would be what would make you guys comfortable with respect to termination language? 00:30:21
30 days. 00:30:31
Instead of 60 to for the termination of the agreement. 00:30:33
Like that make it a little more comfortable, right? So for sure I'd entertain a motion. 00:30:38
On this agreement. 00:30:47
Yeah, I'll make a motion that we do the quarterly. 00:30:49
On the agreement with the modification of under term and termination. 00:30:54
That it goes to 30 days written notice instead of 60. Any motion made to enter to the agreement. 00:30:59
On. 00:31:07
With make my move in the amount of 15,750. 00:31:09
For the quarterly amount of 15,050 and modifications to the term a nation of 30 days from 60 day. 00:31:13
Yep, so moved there's a motion to that affects their second ordered it. 00:31:20
30 days, maybe 2 weeks. I'm just. 00:31:26
You're two months into it. 00:31:30
You want a second? We'll have a discussion. 00:31:34
I'll second the motion. All right, motion maintenance second. So, yeah, so. 00:31:37
Discussion on that instead of 30, take that down to 14, yeah. 00:31:42
I'm just trying to give the shorter the better. I mean. I mean. 00:31:48
Unreasonable there anything other in for 1/4 right? Frankly you could just say it's that. 00:31:52
It doesn't renew and. 00:31:57
You guys can figure it out, you know at the end of the quarter whether you want to keep going. 00:31:59
If they're going to charge a premium for billing monthly. 00:32:04
Either one spot. 00:32:09
Either way, you're going to need to set a reminder saying hey, we don't want to do this. 00:32:10
But would we know? 00:32:14
At the end of two months, whether or not a person another two weeks gonna. 00:32:17
Mehbooba Mufti. I'm just. 00:32:22
I'm just asking. I don't know. It's hard to tell that teetery. 00:32:23
You know. 00:32:29
I don't know if another two weeks would help. 00:32:30
About 15 days. 00:32:34
Four. No, I'm ten. Yeah. I mean, really, it's not an inconvenience. They're they're you're already set up. I don't, I don't see 00:32:36
how that's. 00:32:40
You know. 00:32:46
So what's your recommendation? 00:32:49
10 days, 10 days would be fine. I think that's not abnormal to say that you want to. It's not like you're leasing an apartment and 00:32:50
you gotta reshow it. You know, it's not like commercial building. It's all right. So there's not a motion for that yet. 00:32:57
We'll do 3030. We could. We can amend the motion. John's point is currently being discussed. So are you amenable to amending your 00:33:05
original motion? Yeah. Are you OK with that, Bob? I'm good with that. Are you? 00:33:12
I'll, I'll amend it to the motion to 10 days or to modify that to 10 days from written notice. John seconds any further 00:33:19
discussion. 00:33:23
And I don't know, we lost Ryan. I was going to, I don't think. 00:33:29
Ryan, you still with us? I think it just goes in streams. I'm still with you. Yeah, OK. 00:33:32
You're good with that then. 00:33:37
We're gonna move. 00:33:40
All those in favor say aye aye. Any opposed motion carries. 00:33:41
All right, I'm just gonna. 00:33:47
Note that on here. 00:33:49
And then we'll. 00:33:51
Get that signed. 00:33:53
Thanks, Ryan. Thanks, Ryan. And and the best part about this is, I mean, if we get too moved in the first month and we've got our 00:33:55
five new, you know that term that that that hits what we're looking for obviously. So 10 days I'm totally fine with because again, 00:34:01
you know. 00:34:06
Just a quick update, broadband tip. 00:34:48
Justin has reached out to Auditor's office. I have as well. 00:34:52
And. 00:34:56
My understanding is they're going through some upgrades and software or changes the software system. I provided the information to 00:34:58
Diana last week and she said she would get back with us on on that, on our where we stand in terms of broadband. 00:35:05
Yeah, they've got an assessed value now. 00:35:15
They sent it to us. 00:35:19
Non sentence of crow. 00:35:21
We just we need to confirm that. 00:35:23
They're going to have the right. 00:35:25
Base valuation of 0. 00:35:28
And now the new assessed valuation of let's say 1.9. 00:35:30
I think it's roughly what it is, but the auditors office hadn't got back to confirm that everything is in place, that they've paid 00:35:35
their taxes, you know? 00:35:39
I've got questions and so does Don. 00:35:44
But they've what's your questions on that? What's your concern? One, I want to see that there's a delta there and that there it's 00:35:47
properly in their system to kick off the revenues. It's partially a crow. 00:35:52
Maybe crow question? I don't know if they need to be involved or not, but. 00:35:58
Just the. 00:36:03
Revenues get in and they get flagged, so they get over in a TIF fund. 00:36:06
Out of that rather than just not and so. 00:36:10
One of the things is making sure the deltas. 00:36:14
The total valuation that they start with zero and not. 00:36:17
The 1.91.91.9 we got 0D, that's not right. 00:36:21
And we have our we. 00:36:26
Created it before that. 00:36:27
Evaluation existed, right? But if they don't have it in their system, right? Or if it's not? 00:36:29
That's the part I just, I don't know how that gets translated. That's why I said crow. 00:36:34
But that's what I want to have happen. 00:36:39
I want somebody to tell me that's happened. Does anybody need to eat crow? 00:36:41
Do this how this maybe I agree. I agree with Justin. I mean it was it was submitted. We've got a file stamped for the December 00:36:46
1st, 2022, so we should receive the entire bill. 00:36:53
Confusingly, but we did all our stuff before. 00:37:02
We got them to submit. 00:37:05
Their valuation, they've now submitted that supposedly paid taxes we're not getting. We didn't get an answer. Yeah, Don did reach 00:37:07
out. They are redoing their software. 00:37:12
Uh, they being who? Auditors, OK. 00:37:18
Tax billing, but I really don't know but it sounds like. 00:37:22
She's like, we can't get into any of that now they're called to check up today after Don's even have fallen on me like, hey, I 00:37:26
haven't heard anything. First it was the assessor, but is that squared? Yeah. Well, now it's on the auditor. Yes, OK. I think so 00:37:32
because because yes, the assessors finally got the. 00:37:38
Taxpayer to submit tax return evaluations which the number didn't exist before and they're not supposedly does and we've got a 00:37:45
sheet showing evaluation. 00:37:50
Yeah, I'll, I'll look back and maybe before the meeting's over at the end, I thought I had confirmation that they were actually 00:37:57
paying, but from memory they were saying. 00:38:01
That was due to soon to be paid but I don't think I've been paid yet. But at least they had the the form. 00:38:07
For the for the value. So who needs to follow up the auditor's office? 00:38:13
On I mean, we're both on an e-mail. Don sent the e-mail. 00:38:18
I. 00:38:23
They're it's in process, it's in the process, but it's not satisfactory. That's good. At least we've got the big, big step on the 00:38:24
way. 00:38:27
I'm going to be the good cop. 00:38:31
Yeah, yeah. Well, yeah, she didn't really love me falling up, but but yeah, it's fine. No, no, no, that's. I play that real well. 00:38:34
All right. Did you get paid the big bucks for anything further on? 00:38:44
That's right, yeah. 00:38:48
Back up wells, sorry, red one. All right, no more part, just red wire project give you an update. We myself and Bob met with 00:38:51
Sharman. We're working through a guaranteed price. 00:38:56
It's looking like it's right under 10 million. 00:39:04
For the total project, that includes the 5000 square feet addition for. 00:39:08
Lab space, we're meeting with Red Wire this afternoon and kind of discuss that as well. 00:39:14
How does that what? What did you say again on the? 00:39:21
Ballpark where we would be on the lease rate. 00:39:25
Or somewhere in the ballpark, depending on a couple of variables, probably somewhere in the 16 to $18.00 range, which is close to 00:39:28
where we were just close to the 15, but. 00:39:33
You know, that is basically, you know. 00:39:39
You know, taking, taking what they had had asked for so. 00:39:43
We'll have those conversations. I think it's balanced. This is what you asked for. 00:39:49
Here's the price you want to get the price or what cuts do you want to make to your facility? What's more, what's the most 00:39:55
important thing for you? And when Don and I met just to just so you guys know, we, we went through their schedule of values on all 00:40:01
their costs. 00:40:06
With rent with Sharon. 00:40:11
And with their architect and all and we. 00:40:13
We have whittled out everything that we felt comfortable in. 00:40:17
Come out of it. 00:40:21
Without uh. 00:40:22
Jeopardizing what red wire? 00:40:24
Had originally intended they wanted so we'll we'll see like I said today we'll find out if. 00:40:28
What was important, they may leave it alone. Four, $400,000 reduction. 00:40:33
Yeah, and there's 400,000 and. 00:40:38
In contingencies, which that's something I think we could have an additional discussion on as well with Sherman. 00:40:41
We did reach out also to Corey Cochran at River Hills to see if there was any. 00:40:48
Addition already ready 1.0 monies he did say that he talked with. 00:40:54
IDC in that they they are complete that ready one funds are expended. 00:41:01
We have a couple of options that he mentioned. One was ready to owe, which we had we. 00:41:07
Which is a possibility. 00:41:16
The other options, and I think it may be something to sit down and talk about as an innovation development district, which is. 00:41:18
They're going away from certified tech parks and going and pushing this innovative development district, according to Corey. 00:41:27
It's similar in some ways in terms of capturing sales tax, but I do think it might be something that. 00:41:34
We investigate and see if that's possibility. 00:41:42
Creating that innovation development district. 00:41:45
As possible for you so well now that would be money we we would. 00:41:49
We would realize down the road. 00:41:55
Because it's similar to the TIFF and that's similar to TIFF meaning that like if we set it up this year. 00:41:58
We would see we may not see gains until So this is certified tech. 00:42:05
It's, it's they're going, they're moving away from that. And he was explaining it to Donna now when we met with Corey, you know? 00:42:10
I haven't hit down to research and we'll reach back out and set up a time to have a conference call by ADC and talk through the 00:42:16
Innovation Development District. And I just understood that it would mean we would click, we would we would see a gain once 00:42:22
development started to occur within that district. 00:42:28
So if that's what I thought, it was similar to the TIF district in that it would get reassessed or something, some assessment, 00:42:34
capture more of the sales to capture sales tax. 00:42:39
So this is sales tax in what area? 00:42:44
So you set. 00:42:49
You set this district. 00:42:50
Yeah. So I mean it was just similar to the tip, similar to the tip. So what what's the parameters on saving it up? Well, that's 00:42:53
we, I, I talked about that. So I think that'd be a, a big phone call to have. And if you all are interested, I can set up some 00:42:59
type of Teams meeting or maybe five through that. 00:43:06
You know, right, Like, can you just mushroom it out? So yeah, I think we want to look into that, OK. 00:43:14
Just real quick, I think I gave you an update. We have two folks that moved in with I. 00:43:22
In addition, I US craft tech and vet Nexus. I think it gave you that at the December, at the December meeting, but just a real 00:43:28
quick update on that. 00:43:34
Christmas in the county. We had our post meeting yesterday. 00:43:41
December 7th, so we're going to start. 00:43:45
Doing some planning on that, that we have about three, 350 people there. 00:43:48
Marketing update Cell sheets been reviewed. 00:43:53
Has been. 00:43:58
It is pretty much I think the only item remaining is a question for the board is. 00:44:00
We have the appraised value of each a lot. 00:44:06
Do you want to add that as the price to the sales? 00:44:10
Sheets because we're and the next step would be to send these out to no, that's a great question. 00:44:16
I've seen them both ways. What haven't you? I mean, I'm saying I've seen them both ways. I'm not an expert in that. I just know 00:44:24
that. 00:44:28
I you know what was the question, Don, do you show it on the marketing material? 00:44:32
And the price, it was a market value. Well, it's when you go to some praise, it's, it's the appraised value. We did that a while 00:44:36
back. Like like it's like not a price, but that's the phrase. 00:44:42
Well, you can always negotiate that price. So we but we went through the price. You know, like when you go to the restaurant, you 00:44:49
want to get the fish and it says market price. You know, you don't know what you don't know what it is until they tell you what it 00:44:54
is. 00:44:58
No, that's not, that's not in my wheelhouse, that's not in my budget. So we approved before we had two appraisals, we offered them 00:45:05
for sale. We got essentially no takers. Redevelopment Commission can negotiate whatever the offers is, which is what you're saying 00:45:11
market price or not, but. 00:45:17
That's I'm just trying to synthesize that, make sure I'm on the same page. Yeah, we walked through all those steps. 00:45:23
And the question is, do you want to put that price on the? 00:45:31
To me I think it's probably 6-1, might have half a dozen the other. I think in one way it gives you the at least gets people a 00:45:36
known price. 00:45:41
And gets it lets you know we're talking about an $80.00 property or $100,000. Well, but The thing is, yes, so we have the 00:45:47
opportunity to negotiate a price we do above or below market. There's pros and cons based on that. What does, what does one SI 00:45:52
recommend or someone? I mean we've got some assistance, you know this. So what are they what are they recommending to us are they 00:45:58
saying? 00:46:03
I think they they solved in both ways when? 00:46:09
I was going to say, I think they said River Ridge does, whatever the phrase. 00:46:14
That would also maybe entice folks because we're probably under Rd. Ridges. They could. I mean, it could. 00:46:20
That's why I brought that, yeah. 00:46:31
Market price, but at least maybe kind of give negotiated market price. 00:46:36
I mean, they look at simple. Yeah, this is way out of range. Hey, this is. 00:46:43
Yeah, that's the other flips. That's what God's saying. That's the flip side too, is if you do list it, you say. 00:46:47
I guess you could. 00:46:54
You just make a blanket statement of lots ranging from. 00:46:56
Yeah, 50,000 to 200,000 or. 00:47:00
That's probably a third way of doing it. Yeah, that's a fairway. 00:47:04
I'm not sure people are gonna. 00:47:09
If you put market or. 00:47:11
Some other phrase I'm not sure people are, really. 00:47:13
Shy away the people that are looking, they will. 00:47:16
You'd like them to make the phone call. 00:47:19
To reach out. 00:47:22
I do like the range, you know, that way you're not specifically putting prices on each lot that you're just ranging it to say we 00:47:24
if you want just, you know, you want in the game, but in the corner you might be looking at the lower price, but if you want the 00:47:29
premium, you might be looking up here. It gives him some idea, but it's still negotiable. 00:47:35
And you can say price range dependent upon location size, right And gives right? That's right. That's why it varies. 00:47:41
See if they can come up with something like that. I like that. 00:47:50
Yeah, you still got a few more here. 00:47:58
That's all right. Development agreement is a big one. Development agreement we Bob and I met with with Chad Sprigler and Mac 00:48:02
regarding some questions on the soils and the geotech for. 00:48:09
Majority of it is not the bot crop right on the buy. They're talking about revising the schedule because we had a certain schedule 00:48:17
in there because of because of just the start time to think and then the weather and I've not heard back on what they found out. 00:48:24
They haven't yet. I'm betting they're probably going to do it now that the ground's frozen versus because they were going to make 00:48:31
a mess before that. I mean now that deal is frozen so the the. 00:48:39
Couple things were. 00:48:47
And I don't think either of you were in here, Justin was in here. 00:48:49
We were talking about soils and the soil question is that. 00:48:52
At the beginning of the. 00:48:56
Project before it was been. 00:48:59
Sprinkler Head of Souls report. 00:49:01
Wait, about geotechnical pharmacy? 00:49:03
That firm. 00:49:05
Said here's how much topsoil is that. 00:49:08
And it was. 00:49:10
I don't know what the number was, 8 inches, it's close to that. 00:49:12
8 inches of depth, that's what you. 00:49:15
Matt got started, did that, took it all off. 00:49:19
A separate geotechnical firm came out to do the construction testing and they said you got to keep going, you're still in topsoil. 00:49:22
And they were saying up to another 1618 inches, 2 feet, 2 feet, two more feet. And they were like, whoa, whoa, whoa, that that's a 00:49:30
big difference. That's a lot of extra material. 00:49:35
So, Long story short. 00:49:41
A potential option is just to let the ground dry some and come back in the. 00:49:44
Drier months and wait and get through this wet weather in the spring. 00:49:50
That impact schedule. 00:49:54
And also to have it tested so they're having the original firm come back out and do the test. 00:49:56
Find out because we need assurances too, because it's underneath our parking lot. 00:50:02
But to Don's point, the bigger concern is on sprinkler side, on our side. 00:50:07
He's got building pads going in underneath of it. That's what they need to know. They're like, what am I supposed to do with this? 00:50:11
So for our part, they're going to continue on with the sewer work. We're getting the sewer done. And I don't know how far they've 00:50:18
gotten down. I haven't been out there to check, but I know they were making their way up the hill. 00:50:24
Last time I checked they were doing that component. I know Sprinkler has started on renovating the building and he mentioned that 00:50:31
Dan about inviting Marie Development Commission out. 00:50:37
Yeah, maybe 2-3 weeks. 00:50:43
Gonna take a look at that, he said. The building, the finally walk into it, I saw what they were doing. I mean, you can see the 00:50:45
lights on inside of it. 00:50:49
So, so basically there's probably going to be some type of amendment or schedule change to the, to the, to the project. It will 00:50:54
amend the. 00:50:59
At a minimum, we're going to amend the schedule. 00:51:04
Sprinkler was like, well, we got to meet the redevelopment schedule we agreed to, Max said. Well, if you need to meet that. 00:51:07
Based on what you did text tell us, we got to do sole amendments, we got it then it's costly. 00:51:14
And John? And I'll meet with him. That's it. 00:51:19
We're OK. We're as long as we can amend the schedule, we're OK. 00:51:22
I think being in a rush. 00:51:27
So we don't have an answer on that yet, but we'll come back to you. 00:51:30
We should be able to come back to at the next meeting, Don Yeah, no, that's I think we have answers this week and then the the BLT 00:51:34
schedule we're. 00:51:38
Are I guess I'm down to schedule for the public hearing? 00:51:43
We've, we've got all of our approvals. Council approved it at their last meeting. We're going to be setting up, I'm waiting on 00:51:47
schedule for the public hearing, which will be in February for the financing part, right. 00:51:54
Because we don't actually have a BOT agreement with them. We're just operating on a reimbursement agreement right now. So we have 00:52:02
to finalize that. Yeah, that's when we approved one, but we approved entering into one in October. So what when are we going to do 00:52:08
the public? I need to reach out with Justin and Brad, bring him and for the advertising, yeah. 00:52:15
OK, just send that out to us. Do it really, we will know. 00:52:23
And then just real quickly, I. 00:52:28
Setting up a time to me. 00:52:31
One of the last Latin projects we've got. 00:52:35
I'll move to some of the different ones, but. 00:52:40
Meeting with that developer and sitting down with financing they got through their zoning for that area. They've submitted some 00:52:43
preliminary they we've got numbers back. We submitted those numbers out to Crow in terms of what what the. 00:52:50
Tax increment would be based on what they've told us that they're bringing to that that parcel. So I think after that there's a 00:52:58
conversation to have with them on. 00:53:03
And I think I would kind of suggest that we move in the direction of a pass through type of grant. 00:53:09
For this one instead of bots and things like that I think. 00:53:17
Just passing it through and letting letting us use that statutorial. 00:53:22
Component and then I've got one item off the agenda, one item on the agenda that is met with the town of Georgetown's 00:53:27
Redevelopment Commission and. 00:53:32
And looking to do some type some type of restaurant pitch contest for that corridor just to bring in some new restaurants. 00:53:39
Small business. So I will have a framework for you, but just want to let you kind of give you a heads up that's kind of out there 00:53:49
in the ether moving forward. And then yes, not yesterday, Friday I got a call from. 00:53:57
Danita Burks. 00:54:05
Requesting Nova Park as an election site. 00:54:07
For early voting and for. 00:54:13
I guess day of voting. 00:54:15
You only use the whistle stop. 00:54:17
Building to bed so the granny flash the granny she I think the only the only issue there are not even really an issue is she 00:54:24
mentioned that she'd like to have the whole building for the Memphis. 00:54:31
April and we have already some things already planned. 00:54:38
So the entire building. 00:54:42
Yeah. And so once they put the election machines in there, I think they just use half of it. 00:54:45
Well, that's what I. 00:54:51
I mean, I'm just being a good staff member because I can tell you, well, I mean, half of it's no smaller than the community club 00:54:54
and that's where I do early. But I mean, it's. 00:54:59
Yeah, it's like in the the room closest to the. Yeah, just. 00:55:05
State Road 64. That's what I was thinking. 00:55:12
You can secure it, I would probably suggest. Yeah, the one that's closest to State Road. Yeah, the one that doesn't have the last, 00:55:15
that's the one I was going to. 00:55:20
I would totally be open to that, just half of it, because for the whole month. 00:55:26
She's asked for early voting and maybe for early voting, but then for Election Day primary, maybe have the whole building for 00:55:31
Election Day you could. 00:55:36
If if there's no conflict, yeah, no, I, I, I, I was I was thinking that way too is Election Day. We can already square that out of 00:55:41
the whole building, but to have that complete that whole building out off offline for. 00:55:48
For a month. 00:55:57
Should we do a motion for that? 00:55:59
We're gonna last someone. We'd entertain a motion to allow early voting to occur. 00:56:01
Building to using the. 00:56:07
North. 00:56:10
Side of the building. 00:56:12
North, yeah, north side of the building. 00:56:14
For early voting for the month of. 00:56:17
I don't know how long she needs month of April. 00:56:20
And to also allow the full use of the building the day of lab day of Election Day. 00:56:23
So second. 00:56:30
Motion by Brad, second by John. Any further discussion? 00:56:32
Parking. I know we've got some parking down. We have that for like handicapped. 00:56:36
Well, I mean, it's already striped, so. 00:56:40
In the parking around bag. 00:56:43
Yeah, but I would. Is there, is there a walkway? Yeah. 00:56:47
We've got to walk. We've got a walkway. So we've got, we've got. 00:56:51
Yeah, there's plenty more, yeah. 00:56:59
All right, aye. 00:57:02
Opposed motion carries. 00:57:05
Anything else Done? Not for. Not for me. OK. You guys have anything? Yeah, I do. I know. 00:57:08
About a week and a half ago. 00:57:17
Did y'all meet with the out there at Regional Park? About four H and all that. 00:57:19
With an anime, yeah. We had a meeting that was myself saying Brad came a little late and it was Denise and Matt Dennison. 00:57:27
Just to explain to them they are at P process for. 00:57:36
The Regional Park and for community. 00:57:40
OK, I know. 00:57:44
Topic was brought up about maybe using. 00:57:45
The building 3 and 4. 00:57:48
Building 3 or Building 4? 00:57:51
Money to. 00:57:53
Put that into part of the Regional Park and was that brought up? 00:57:56
Well, that's ready money that's going into to the building. 00:58:01
Good. 00:58:10
OK. Anything else? Great. Motion to adjourn, to adjourn by John. All in favor say aye, aye, we're out of here. 00:58:13
Hang around so we can sign some stuff. 00:58:20
Do you need this? 00:58:24
Don, I did. We didn't vote on that. Oh, shoot. Audit certification. 00:58:27
Information. OK, Thank you. 00:58:32
CBA finals. That's fine, I'm just making sure we didn't miss something. 00:58:35
All right. 00:58:41
Teresa, I've pulled this out. 00:58:44
I don't know. That was what we were talking about with. 00:58:46
Brian, I just initialed it. 00:58:49
Let me just leave that. 00:58:52
There we go, Bob. Thanks. 00:58:54
I have two, right? 00:58:59
Do what? 00:59:03
That's all good. 00:59:09
He gets paid the extra. That's right. I get that's right. They pay me Devil's salary, these guys. 00:59:10
Yeah, The last question is. 00:59:16
I just right now we're talking, we're only going to coordinate having groceries in this meeting. 00:59:21
I don't need groceries. I need groceries. We cracked up. 00:59:26
Oh, we were. 00:59:31
They were doing their organization when we were here. 00:59:35
We were the three amigos, but that means instead of and just to see make sure Brad and everything can get reported and I don't 00:59:39
know. Whichever it was, it was the end. It was the youth shelter. 00:59:45
Well, I thought I was going to say something profound about being on the board. 00:59:52
Because I asked them, they only want to be a part of those meetings. He's like, well, he sits back. He's like, well, like, OK, 01:00:00
he's going to come up with something good Groceries there. 01:00:07
Do they have snacks? 01:00:15
People are confused. She's like, you know, snacks. 01:00:18
And so we decided we're gonna have groceries. 01:00:22
Thank you. 01:00:29
Anyway, all right guys. 01:00:32
I'm glad you said something. Oh, I'm sorry. 01:00:36
That's fine, you're right, I looked on my account. 01:00:41
Like you're right. 01:00:46
What's wrong? You didn't play basketball? Never seen it before. 01:00:50
Yeah. 01:00:58
Yeah, I know. 01:01:18
Must be. 01:01:21
Does he he want to identify himself for you? 01:01:24
OK. And I wasn't going to. 01:01:28
Pressure. 01:01:30
All right. 01:01:31
Stay warm. 01:01:33
That's a great well, it's not a tip time, right? Like where do the funds come from? 01:01:56
The transfer city, right? 01:02:02
Transferred over. 01:02:04
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Hey, you ready to get started, John? 00:00:00
Hello. Check checking in Hello. 00:00:05
We're going to call the meeting to order the Redevelopment Commission. Tracy, you want to do work off? 00:00:08
Here. 00:00:15
Here. 00:00:20
Here. 00:00:22
All right, we do have a quorum. 00:00:24
First item of business is the election of officers for the. 00:00:27
Coming year. 00:00:31
Motion to. 00:00:33
Have. 00:00:36
Bob Woosley continue as president. 00:00:38
Do you want to you want to do them all at the same time? Sure. And a motion for Ridge to continue as Vice and Jeff, who was 00:00:42
appointed last week by the council to continue as secretary. 00:00:47
Is there any reason for a discussion? 00:00:55
Nope, you're in a minority, I am always fair to say aye. 00:00:57
Motion carries. All right. Thank you. 00:01:03
Hey, Bob, seriously, I think you do a good job. Well, I appreciate it, you know, meeting with Don and everybody out there, being 00:01:05
our steward and our ambassador, doing a really good job. 00:01:11
They're not ready. They're not ready. I know, but before next meeting. 00:01:19
What? What? 00:01:28
Yeah, before we've either stopped by and signed them. 00:01:36
The organization being Vaughn and which has the Oakland intersection. 00:01:43
Oh, OK. 00:01:47
So we don't have to follow duties until we did that. 00:01:48
It's the same members but I'm just saying whenever you get them let them know because I would like before next meeting to have. 00:01:55
Yeah, and that's what. 00:02:02
Or Teresa says they're ready and. 00:02:05
OK. And. 00:02:09
Bob, I don't know. I guess we all know this, but. 00:02:10
Melanie, I reached out to her she is going to get she's going to be reappointed or she already is. Good. I hadn't heard that. 00:02:13
Yeah, because I reached out to her. So you going to be able to you know, are you going to join us this year? And she said yes. So 00:02:18
I don't know if she even she said she needed the calendar meet the meetings and everything again for so I can I don't know I can 00:02:23
give them to him Don whatever, but. 00:02:28
Copied on this yeah. 00:02:37
OK. All right. 00:02:44
OK. And next time a business is the approval of our minutes and claims and we have actually two sets of minutes, one from our 00:02:46
regular meeting on December the 12th and one from the executive session on December the 12th. 00:02:52
And we also have a claim. 00:02:59
From. 00:03:02
Attorney's office in the amount of $810 to young women tenders to craft. So I'd entertain a motion to approve all three. 00:03:04
All set to minutes and. 00:03:13
Unless there's, unless you want to do them individually. 00:03:15
Well, I mean, look. 00:03:19
This. 00:03:21
Dewey, I'm just curious. 00:03:26
What he missed? You don't think men have said executive session? Well, it was. It wasn't, I'm sorry. It was a summary, basically. 00:03:28
OK, right. OK. 00:03:38
So that's kind of an effort. Yeah. I mean, there are no minutes. I didn't realize. Yeah, that is the minute. 00:03:41
When you started, when you ended, right? OK, who was there and that you only talked about something and that's what this says. 00:03:50
Can't make a motion to approve the minutes from. 00:03:57
December the 12th. 00:04:00
And then our executive session that was also held on December 12th and then the. 00:04:02
Claim for $810. 00:04:07
Motion made by John's there a second. 00:04:10
I'll 2nd, 2nd. 00:04:13
Any further discussion? 00:04:15
All those in favor say aye aye. 00:04:22
All right, she cares. 00:04:24
Don, you got it. You got the floor financial report. 00:04:26
Yes, yes. 00:04:32
Yes, I put that in the same motion. 00:04:34
We only had the one though, right? It was actually, we only saw the one. 810 dollars, yeah. 00:04:37
I think it's I think it's 2222 of them, but one. 00:04:43
Clean vouchers. 00:04:47
Just I will go through real quickly to give you kind of a beginning of the year financial update. I. 00:04:51
In terms of. 00:04:58
Funds, we've got approximately budgeted 90,000 in economic development. 00:04:59
11124933 Redevelopment Fund has a beginning balance of 19,540 three 59. There will be an additional preparation that will come out 00:05:07
of that. 00:05:14
We have 5000 budgeted. 00:05:22
That additional preparation will be probably about. 00:05:25
I think about 708 hundred dollars. 00:05:28
Its sponsorship, it's for the final bills with our Christmas event. 00:05:31
And then revolving loan fund is at 300 and 3214. 00:05:42
I believe and then our highlighter point Gateway district. 00:05:46
Should be about 26,000 two 8478 current. 00:05:51
That was worth a bond payment. Can I ask a quick question on the revolving line loan fund? I mean, that's it. 00:05:56
Pretty strong balance in there, yeah. What's the? 00:06:02
I guess I'm just wondering like. 00:06:07
Do we leave it alone? 00:06:09
Literally just thinking big picture. 00:06:11
What's it? The only only item we have out right now is is. 00:06:14
Edwardsville Water that you approved last year, right? That's a repayment back from. 00:06:19
Repayment back from. 00:06:31
Attached regular through Edwards of water. 00:06:33
OK. So that agreement was signed last year? 00:06:38
So and the power of that's the tip revenue is generated are those monies like if we said we wanted to use? 00:06:41
$100,000 for something else. 00:06:48
It was established. You've become guardians of that. 00:06:52
Back in 13 when the board was formed. 00:06:58
It has it started out as a volume loans fine and. 00:07:02
Back in the late 80s, I just didn't know if there was something tied to, there's nothing federally tied to it. So I think if you 00:07:07
want to review that and just thinking out loud. So that was, I had two questions. That was one of them is it what restrictions are 00:07:13
there to spend that money and then two. 00:07:19
Can you transfer it to another fund? I'd have to check this out. Could we transfer whether it's a whether it's? 00:07:26
As there's possibility, I guess let me research that and get with Justin. 00:07:36
Yeah, just curious, I know, and I'm just spitballing, but let's just say something. 00:07:40
At Nova Park, we wanted something for an incentive or something for, I don't know, just. 00:07:45
Is it? Is it doable? Is it possible? 00:07:50
OK. 00:07:54
What is the? 00:07:57
Is that a? 00:07:59
What's the rate for that loan? 00:08:00
Is it a 0 percent or? 00:08:04
Oh, the one that you did last year for this it's yes. Someone wants to try Prime, OK. 00:08:06
I think, I think the bottom is 3%, but then it's but that's something too if you want to completely look at. 00:08:16
Ramping that I know we had some small. 00:08:22
Yeah. I mean, we haven't really focused on it. I'm just asking. 00:08:25
But it's whoever we everyone has paid off or paid out and paid off and the only one outstanding is that agreement to Edwardsville 00:08:29
Water corporate and sprinkler so. 00:08:34
Good. OK. 00:08:40
All right. Sorry, I didn't mean to interrupt you. Are you finished with that with the reports not? 00:08:42
We do have someone from the public if you'd like. Do you have something that you wanted to? OK. 00:08:47
Oh, welcome to the meeting. 00:08:52
All right. Any old business done that we have otherwise we'll? 00:08:56
Roll right into new business. 00:08:59
New business. 00:09:02
I copied. I believe they are should be in your packages to. 00:09:07
Overview of our. 00:09:11
Annual Report. 00:09:14
We presented that to the County Council. That's now state requirement. 00:09:15
Also. 00:09:20
State requirement for the end of the year will be a spending plan that gets submitted to the. 00:09:22
County Council as well. So it's just kind of overviews what was, you know, our organizational, organizational. 00:09:30
Status or board information as of last year, Our year ending balances. 00:09:41
Some of our projects and events that we've done and then just a brief overview of milestones for Noble Park, so. 00:09:47
That's just for your information. 00:09:56
The next item I have to give you update on. 00:10:01
Make our make, make my move. Mr. Pike was here at your last meeting. 00:10:04
He submitted a contract. 00:10:12
Extension. 00:10:16
It's for 3/4, the total amounts 15,750 to give you an update on the program. 00:10:17
We have. We've had three individuals move since your last meeting. We've had four accepted. 00:10:26
To move. 00:10:34
And are in the process of getting ready to move. Their total income is 463,000. 00:10:36
So it's roughly. 00:10:45
I don't make me do math like 115,000 average. 00:10:49
For those movers, there's two that's been offered and that that's just short of 200,000. 00:10:56
And it's my understanding that. 00:11:03
We can access the second pot of money once we have 5 movers and five and and acceptance and Mr. Pikes here as well. 00:11:07
No. Our total contract which is actually I believe today was for 10 movers. 00:11:17
My understanding and he can and he can jump in anytime or when you when you'd like him to for us to access that second pot of 00:11:26
money we have to have. 00:11:30
Two more. 00:11:37
Relocated. 00:11:38
And five more accepted so. 00:11:40
Accepted. So so we're we're gonna make sure I'm following you down here. Hey Don. 00:11:43
Go ahead, Ryan. 00:11:48
Sorry to interrupt. To access the 2nd tranche you you you just need a total of 55 movers. So you just need two more in the move 00:11:51
status to access that second tranche. 00:11:59
Right now we have 3 that have moved and four accepted waiting to move, yes. So we've as long as one of those two of those four, 00:12:06
two of those four actually move. 00:12:12
In the court, yeah, in the quarter then we've met our requirement for the 2nd, 2nd tranche of money. 00:12:18
That that's correct. 00:12:25
The the where the where the five where the five accepted come into play is once you actually have 5 move and five accepted, then 00:12:27
we can, we can, we can, we can work towards another mover goal like a new mover goal with a whole new. 00:12:36
With a whole new sort of slew of IEDC funds, a whole new slew of matching funds, if that makes sense. 00:12:46
And that that second tranche or that new once the five movers and five acceptance are in. 00:12:54
That could also include partial payment of salaries. Is that correct with IEDC? 00:13:00
Yeah, like so, so so the. 00:13:10
The IDC contract literally just states. 00:13:13
You know that you get your first tranche when you sign up, which you've already gotten, and you get your second tranche. 00:13:17
Once you've got 5 movers in the moved status, so the the 2nd we have two more movers and move status, I'll notify you Don and 00:13:26
essentially you'll, you'll invoice the IDC that day and ideally get paid within, you know, 7 to to to 14 days. 7 to 10 days would 00:13:33
be ideal. 00:13:41
You'll get that second Tron from the IDC. 00:13:48
And then once we have five more and accepted that's what we can do, put together a new contract with brand new IEDC matching 00:13:52
funds, if that makes sense. 00:13:56
OK. 00:14:02
So what you have in. 00:14:04
Before you and. 00:14:06
Is that? 00:14:09
Remote worker extension. 00:14:13
Amendment. 00:14:15
OK, how long? 00:14:20
What's the duration of the amendment like? 00:14:22
Is it it's 50, the amount is 15,750. So what it's it's my understanding it's three months. 00:14:25
That's correct. 00:14:34
So it's five. That's 5000 / 5000 a month. A month. 00:14:35
Does it say that? 00:14:42
On page 2. 00:14:46
As the term OK term commensuration. 00:14:48
OK, did it. 00:14:52
It doesn't. 00:14:55
Say it's three months. 00:14:56
Just says upon the location of two new households and five accepted. 00:15:02
So if that takes six months. 00:15:07
It's still. 00:15:09
I'm just asking for that. 00:15:11
I follow what you're trying to say what you're saying. 00:15:17
What? No, no, no, no my my question is. 00:15:22
This amount, if we agree to this, it's 15,750. 00:15:25
For as long as it takes. That's the total amount until we get. 00:15:30
Two new households relocated. 00:15:34
And five accepted households. 00:15:37
That's the way I mean that's that's that's what I'm hiding. I think it probably a wrong question. 00:15:41
Is that right, Ryan? I mean. 00:15:49
In other words, it's a lump sum. 00:15:52
I'm sorry, go ahead. It's a lump sum amount. 00:15:56
For you to. 00:15:59
Assist us in getting 2 new households and five accepted households. 00:16:02
Where does it say a difference? 00:16:07
Yeah, that that's how I wrote it just because sort of well it says quarterly at the top for compensation, this is quarterly 00:16:10
Atopicola fulfilled. 00:16:14
Right. So that covers that covers 3 months that covered 1/4. 00:16:19
I'm sorry, He probably has a hard time hearing. Yeah, you're not. There you go. 00:16:28
If it takes two quarters, is it $30,000? 00:16:34
Because it's paid quarterly. 00:16:38
Yeah. 00:16:41
To get to get that second check from the IDC. That's correct. 00:16:44
So I guess our question is they're accountable. 00:16:51
Moving forward for the next three months, it has to see where we get because it sounds like we're. 00:16:53
We have 4 accepted now. 00:17:00
And we need two of them. You actually have six accepted right now. 00:17:03
OK, we have 6 accepted. 00:17:09
OK, correct. 00:17:14
I have Well as of this morning I had four accepted and two offered. 00:17:16
Have they lived in accepted status? 00:17:22
Yeah, Ryan, to the two that we just offered move to accepted status. 00:17:27
I don't know if it was those two or a different 2. Right now there are still 2IN offered status. 00:17:32
So what I'm looking at? 00:17:40
You've got 3. 00:17:42
You've got 3 movers and accepted status that idea that are in the green phase. So that means those those three want to move within 00:17:44
within less than three months. Then you have one in the yellow phase, which means that one of them wants to move within three to 00:17:52
six months. And then you have two of them in the in the red faith is, which means that the remaining two out of the six want to 00:17:59
move between. 00:18:06
You know, six or more months. 00:18:15
So maybe you were just looking at the green and the yellow, which is less than three months or three to six months, if that makes 00:18:17
sense. 00:18:21
So we've had three already moved. 00:18:26
Three have already moved, yes, accepted, and we've got 2. 00:18:28
So so. 00:18:34
I don't know if we want to do this on a monthly basis. Yeah, that's I'm just trying to think's an option, isn't it Ryan, that we 00:18:37
could just be billed? 00:18:40
Maybe just lost him on that. We just lost him. 00:18:45
Yeah, I'm having trouble figuring out. I don't know that I saw this. 00:18:48
Should have seen it. 00:18:52
But the IT was probably before I went to on vacation. No, I don't. I don't mean it in that way. I'm just saying I'm having trouble 00:18:54
like the move status, acceptance status actually moved like all the different. That's where I'm kind of confused. 00:19:02
I'll tell you what, I I know we've got three that's already made. We had 10 total as our goal. 00:19:11
We've got, we've already got three that have moved to the account. 00:19:18
Right, we had when I looked at it this morning. 00:19:22
We had four that may be 4 within a certain time period. So I'm going to make that assumption. Those other two farther out. 00:19:26
So we have three, moved six and acceptance. 00:19:35
We've made two more offers. Two offers, yeah. 00:19:41
So so. 00:19:44
Well, we can. 00:19:50
We got six. They've all been offered as well. Has been offered and accepted. Offered, accepted. That's correct. They're now in the 00:19:51
process of looking for housing and they're they're they're making their plans and they're not part of that. Three because they're 00:19:58
already here. Yeah. So you got 3 already here, six that have been offered and accepted and two more that have been offered. 00:20:05
That's correct. And then one more that that we've confirmed eligibility, we just haven't offered yet. 00:20:14
OK, so the question is to any. My question is to. 00:20:20
Anybody here is is this? 00:20:24
Reaching our expectations, exceeding it not. 00:20:28
Reaching what we. 00:20:32
Expected. 00:20:34
Well, I guess I want to. 00:20:35
A checkup, a progress report here from when we first began this to where we are now because we're asking to renew it. So I'm kind 00:20:37
of curious as to. 00:20:42
Where we are. 00:20:47
To answer your to answer your question. 00:20:48
I would say that we are probably at least meeting the expectations. 00:20:54
Our return on investment for this, I mean is. 00:21:00
You know, I think we set that it's. 00:21:06
We we had 10/10 was our goal. 00:21:08
Right now at. 00:21:12
If you count the. 00:21:13
Moved and ones that are have said they're accepted. We're at 9:00. 00:21:15
So. 00:21:20
You know, I would say that we lost probably about three months. 00:21:22
When we had, we went back there and we kind of looked at our incentive package. 00:21:25
I think that may be something. If we get, if we decide to do a new number, we may want to do a lower number. 00:21:31
Just to just to see where we are. 00:21:38
But. 00:21:42
But I would say, I mean from staff point of view, I think we're meeting what the expectation. 00:21:43
You know, we're now, you know our contract actually ends today. 00:21:48
99 folks have accepted. 00:21:53
Out here and and we did, like I said, lose. 00:21:57
We lost probably 3 months, kind of. 00:22:02
Walking through that first parking program, which learning curve for us? 00:22:04
Maybe. 00:22:09
I think we're at the point where we think we can finish out this contract. I would maybe suggest we did on a monthly basis. 00:22:11
Is it paying its way? 00:22:20
Oh, yeah. I mean in terms of the return on investment. 00:22:22
I mean, it's painted. 00:22:25
Yeah. So right now, I mean, I one of the kind of things I talked about when I was there last month. 00:22:28
For every dollar that's been invested, $5.43 have been generated with just those 3 movers in year one alone. So the total new 00:22:36
annual economic output generated is $213,158. And of that at this point, Floyd County with with with the first tranche of matching 00:22:46
funds from the IDC. What county has invested 39,250? 00:22:56
So we get that 200 and 13158 return on investment from total new annual consumer spending and total new annual state and local tax 00:23:06
revenue. 00:23:12
And this really is just a bridge contract. There's a, there's a remaining amount of. 00:23:19
IDC funds for you to collect. 00:23:25
Once we have two more movers, we we feel pretty confident we can get those movers by May 31st, we can get them moved by May 31st 00:23:28
with the way that the pipeline looks. So this is just an extension. 00:23:35
To kind of get you there and get you that second tranche of funding and then once you have that. 00:23:44
You know, we still have five more to move, but ideally we could put together a new contract, get additional new funding from the 00:23:51
IDC. 00:23:56
And we could even include, you know, part of part of Don's salary from sort of a program management stipend in that that's one of 00:24:02
the newer features that IEDC is kind of rolled out with our blessing, you know, this, this, this next year. So. 00:24:10
So that's kind of where the program stands today. 00:24:20
Does that make sense? 00:24:24
Yeah. So I guess we're. 00:24:26
We got upset. Do we want to do this for the? 00:24:29
Three months to see if we can get two more of these moved. 00:24:32
Or on a month to month. 00:24:36
Don which one of these? 00:24:40
Under under the file, under the financial report, Which one of these funds did we pay this out of? 00:24:43
Do we know actually we've got grant funding still available through IEC? 00:24:51
So the Taliban's debate frames booking. 00:24:58
Do we have sufficient to if we wanted to do the quarterly? 00:25:01
We wanted to do the 15th. I'm just asking we would, I mean we have, we have the remaining IDC grant funding and we've got you have 00:25:05
space available and either your 1112 fund or your 9121 fund. 00:25:13
I mean, I would. 00:25:24
I would be inclined to just go ahead and do the quarter. 00:25:26
And to give sufficient time to get. 00:25:28
I'm throwing it out there. 00:25:33
Well, staff offered monthly so I guess I don't know what the difference. Is the price the same? 00:25:37
Price is the same, I mean it just not be able to get. 00:25:42
Well, wait a minute. 00:25:46
My understanding the price is the same. 00:25:49
The per month price, yeah, so, so it's 50. So what we did is we took like the fixed cost that Floyd County paid last year and 00:25:52
broke that down to to a monthly amount. 00:25:57
But then ideally if you just do, if you do the quarterly prepaid, we knocked 10% off that as well. 00:26:04
So it's not 5250. 00:26:13
It's not just taking 15750 / 3. 00:26:16
That may be my. That may be my misunderstanding. How? 00:26:21
So you're taking, so if I heard you right, Ryan, you're taking 10% off the 15,750 if we do a quarter versus a month? 00:26:23
No, I think you're saying the monthly is higher than opposite. Sorry. 00:26:32
What? What's the monthly? What's the monthly amount? 00:26:38
5770, give me one second. I'm sorry you're getting there. 00:26:42
I think I had it right. 00:26:48
If you do it quarterly, it's cheaper. You do it monthly, it's higher. That's what I said. His monthly it's not 52, it'll be 57. 00:26:50
Well, maybe he didn't apply that. 00:27:00
We'll see. 00:27:03
Yeah. So the monthly expense would be $5833. 00:27:06
Which obviously if you multiply that. 00:27:13
By three. 00:27:16
You're looking at 17,499. 00:27:20
So then 10% off of that, that gets you down to 15,750. 00:27:23
Yeah. So it is cheaper to go quarterly. 00:27:33
Yeah. 00:27:38
I'll take that as my mistake. 00:27:41
I just I understood a conversation. 00:27:43
Or yeah. 00:27:49
I mean. 00:27:51
It's $500 a month. 00:27:54
Roughly right, a little over. 00:27:56
5:50 or so. 00:27:59
Cheaper. 00:28:05
To do it quarterly than it is to do it. 00:28:06
Exactly, I'm I misunderstood part of the previous conversation? I would think if it's cheaper than. 00:28:08
I don't know why we would. 00:28:16
While we wouldn't be in it for the quarter unless there's a compelling argument that tells us why we wouldn't really want to stick 00:28:18
this out for three months. 00:28:21
That's kind of where I'm. 00:28:25
At I mean it sounds like. 00:28:27
Satisfied we're getting a return on investment so. 00:28:30
You're going to cancel within 30 days of starting it. That's it. That's it. If you're not, you're locked into another quarter of 00:28:33
the way he's got this written. I mean, it's not real favorable to you could take the 15715 / 3 and proposed to do it monthly. 00:28:41
You could take the part where you have to cancel 60 days before the end of the term, or it keeps going to reduce that down to 30. 00:28:50
There's a number of things, but it's not real. 00:28:58
Yeah, I know what you're saying. 00:29:01
After 30 days a year. 00:29:05
You're in for the next World. That's what it says. I mean, unless you meet your goals and. 00:29:07
Terminates on its own, but. 00:29:11
I guess well, and, and we can read and I can rewrite that to kind of tailor it to whatever makes the most sense for you guys. You 00:29:14
know, part of the reason why I sort of put wrote in there when I wrote in there. And again, we're very close to accomplishing that 00:29:20
is because you know, the first goal is getting the five movers that gets you the second tranche IDC funds, you know, from the 00:29:27
first contract. 00:29:33
Once you have 5 accepted on top of that. 00:29:40
Which I think you're going to get within this, you know, the. 00:29:44
The next three months you already have. 00:29:48
Six accepted. So we just need one more accepted and out of those accepted, we need two to move. And then you can look at kind of a 00:29:51
whole new contract and matching funds from the IDC. So that's kind of why I put that in there. The other reason why I put that in 00:29:57
there is because your pipeline is healthy and and, and you're sitting with I don't think we have, I think the concern is the 00:30:04
termination language so. 00:30:11
Want to pay for another quarter if that's not really? 00:30:18
Right, go ahead. So Ryan, what would be what would make you guys comfortable with respect to termination language? 00:30:21
30 days. 00:30:31
Instead of 60 to for the termination of the agreement. 00:30:33
Like that make it a little more comfortable, right? So for sure I'd entertain a motion. 00:30:38
On this agreement. 00:30:47
Yeah, I'll make a motion that we do the quarterly. 00:30:49
On the agreement with the modification of under term and termination. 00:30:54
That it goes to 30 days written notice instead of 60. Any motion made to enter to the agreement. 00:30:59
On. 00:31:07
With make my move in the amount of 15,750. 00:31:09
For the quarterly amount of 15,050 and modifications to the term a nation of 30 days from 60 day. 00:31:13
Yep, so moved there's a motion to that affects their second ordered it. 00:31:20
30 days, maybe 2 weeks. I'm just. 00:31:26
You're two months into it. 00:31:30
You want a second? We'll have a discussion. 00:31:34
I'll second the motion. All right, motion maintenance second. So, yeah, so. 00:31:37
Discussion on that instead of 30, take that down to 14, yeah. 00:31:42
I'm just trying to give the shorter the better. I mean. I mean. 00:31:48
Unreasonable there anything other in for 1/4 right? Frankly you could just say it's that. 00:31:52
It doesn't renew and. 00:31:57
You guys can figure it out, you know at the end of the quarter whether you want to keep going. 00:31:59
If they're going to charge a premium for billing monthly. 00:32:04
Either one spot. 00:32:09
Either way, you're going to need to set a reminder saying hey, we don't want to do this. 00:32:10
But would we know? 00:32:14
At the end of two months, whether or not a person another two weeks gonna. 00:32:17
Mehbooba Mufti. I'm just. 00:32:22
I'm just asking. I don't know. It's hard to tell that teetery. 00:32:23
You know. 00:32:29
I don't know if another two weeks would help. 00:32:30
About 15 days. 00:32:34
Four. No, I'm ten. Yeah. I mean, really, it's not an inconvenience. They're they're you're already set up. I don't, I don't see 00:32:36
how that's. 00:32:40
You know. 00:32:46
So what's your recommendation? 00:32:49
10 days, 10 days would be fine. I think that's not abnormal to say that you want to. It's not like you're leasing an apartment and 00:32:50
you gotta reshow it. You know, it's not like commercial building. It's all right. So there's not a motion for that yet. 00:32:57
We'll do 3030. We could. We can amend the motion. John's point is currently being discussed. So are you amenable to amending your 00:33:05
original motion? Yeah. Are you OK with that, Bob? I'm good with that. Are you? 00:33:12
I'll, I'll amend it to the motion to 10 days or to modify that to 10 days from written notice. John seconds any further 00:33:19
discussion. 00:33:23
And I don't know, we lost Ryan. I was going to, I don't think. 00:33:29
Ryan, you still with us? I think it just goes in streams. I'm still with you. Yeah, OK. 00:33:32
You're good with that then. 00:33:37
We're gonna move. 00:33:40
All those in favor say aye aye. Any opposed motion carries. 00:33:41
All right, I'm just gonna. 00:33:47
Note that on here. 00:33:49
And then we'll. 00:33:51
Get that signed. 00:33:53
Thanks, Ryan. Thanks, Ryan. And and the best part about this is, I mean, if we get too moved in the first month and we've got our 00:33:55
five new, you know that term that that that hits what we're looking for obviously. So 10 days I'm totally fine with because again, 00:34:01
you know. 00:34:06
Just a quick update, broadband tip. 00:34:48
Justin has reached out to Auditor's office. I have as well. 00:34:52
And. 00:34:56
My understanding is they're going through some upgrades and software or changes the software system. I provided the information to 00:34:58
Diana last week and she said she would get back with us on on that, on our where we stand in terms of broadband. 00:35:05
Yeah, they've got an assessed value now. 00:35:15
They sent it to us. 00:35:19
Non sentence of crow. 00:35:21
We just we need to confirm that. 00:35:23
They're going to have the right. 00:35:25
Base valuation of 0. 00:35:28
And now the new assessed valuation of let's say 1.9. 00:35:30
I think it's roughly what it is, but the auditors office hadn't got back to confirm that everything is in place, that they've paid 00:35:35
their taxes, you know? 00:35:39
I've got questions and so does Don. 00:35:44
But they've what's your questions on that? What's your concern? One, I want to see that there's a delta there and that there it's 00:35:47
properly in their system to kick off the revenues. It's partially a crow. 00:35:52
Maybe crow question? I don't know if they need to be involved or not, but. 00:35:58
Just the. 00:36:03
Revenues get in and they get flagged, so they get over in a TIF fund. 00:36:06
Out of that rather than just not and so. 00:36:10
One of the things is making sure the deltas. 00:36:14
The total valuation that they start with zero and not. 00:36:17
The 1.91.91.9 we got 0D, that's not right. 00:36:21
And we have our we. 00:36:26
Created it before that. 00:36:27
Evaluation existed, right? But if they don't have it in their system, right? Or if it's not? 00:36:29
That's the part I just, I don't know how that gets translated. That's why I said crow. 00:36:34
But that's what I want to have happen. 00:36:39
I want somebody to tell me that's happened. Does anybody need to eat crow? 00:36:41
Do this how this maybe I agree. I agree with Justin. I mean it was it was submitted. We've got a file stamped for the December 00:36:46
1st, 2022, so we should receive the entire bill. 00:36:53
Confusingly, but we did all our stuff before. 00:37:02
We got them to submit. 00:37:05
Their valuation, they've now submitted that supposedly paid taxes we're not getting. We didn't get an answer. Yeah, Don did reach 00:37:07
out. They are redoing their software. 00:37:12
Uh, they being who? Auditors, OK. 00:37:18
Tax billing, but I really don't know but it sounds like. 00:37:22
She's like, we can't get into any of that now they're called to check up today after Don's even have fallen on me like, hey, I 00:37:26
haven't heard anything. First it was the assessor, but is that squared? Yeah. Well, now it's on the auditor. Yes, OK. I think so 00:37:32
because because yes, the assessors finally got the. 00:37:38
Taxpayer to submit tax return evaluations which the number didn't exist before and they're not supposedly does and we've got a 00:37:45
sheet showing evaluation. 00:37:50
Yeah, I'll, I'll look back and maybe before the meeting's over at the end, I thought I had confirmation that they were actually 00:37:57
paying, but from memory they were saying. 00:38:01
That was due to soon to be paid but I don't think I've been paid yet. But at least they had the the form. 00:38:07
For the for the value. So who needs to follow up the auditor's office? 00:38:13
On I mean, we're both on an e-mail. Don sent the e-mail. 00:38:18
I. 00:38:23
They're it's in process, it's in the process, but it's not satisfactory. That's good. At least we've got the big, big step on the 00:38:24
way. 00:38:27
I'm going to be the good cop. 00:38:31
Yeah, yeah. Well, yeah, she didn't really love me falling up, but but yeah, it's fine. No, no, no, that's. I play that real well. 00:38:34
All right. Did you get paid the big bucks for anything further on? 00:38:44
That's right, yeah. 00:38:48
Back up wells, sorry, red one. All right, no more part, just red wire project give you an update. We myself and Bob met with 00:38:51
Sharman. We're working through a guaranteed price. 00:38:56
It's looking like it's right under 10 million. 00:39:04
For the total project, that includes the 5000 square feet addition for. 00:39:08
Lab space, we're meeting with Red Wire this afternoon and kind of discuss that as well. 00:39:14
How does that what? What did you say again on the? 00:39:21
Ballpark where we would be on the lease rate. 00:39:25
Or somewhere in the ballpark, depending on a couple of variables, probably somewhere in the 16 to $18.00 range, which is close to 00:39:28
where we were just close to the 15, but. 00:39:33
You know, that is basically, you know. 00:39:39
You know, taking, taking what they had had asked for so. 00:39:43
We'll have those conversations. I think it's balanced. This is what you asked for. 00:39:49
Here's the price you want to get the price or what cuts do you want to make to your facility? What's more, what's the most 00:39:55
important thing for you? And when Don and I met just to just so you guys know, we, we went through their schedule of values on all 00:40:01
their costs. 00:40:06
With rent with Sharon. 00:40:11
And with their architect and all and we. 00:40:13
We have whittled out everything that we felt comfortable in. 00:40:17
Come out of it. 00:40:21
Without uh. 00:40:22
Jeopardizing what red wire? 00:40:24
Had originally intended they wanted so we'll we'll see like I said today we'll find out if. 00:40:28
What was important, they may leave it alone. Four, $400,000 reduction. 00:40:33
Yeah, and there's 400,000 and. 00:40:38
In contingencies, which that's something I think we could have an additional discussion on as well with Sherman. 00:40:41
We did reach out also to Corey Cochran at River Hills to see if there was any. 00:40:48
Addition already ready 1.0 monies he did say that he talked with. 00:40:54
IDC in that they they are complete that ready one funds are expended. 00:41:01
We have a couple of options that he mentioned. One was ready to owe, which we had we. 00:41:07
Which is a possibility. 00:41:16
The other options, and I think it may be something to sit down and talk about as an innovation development district, which is. 00:41:18
They're going away from certified tech parks and going and pushing this innovative development district, according to Corey. 00:41:27
It's similar in some ways in terms of capturing sales tax, but I do think it might be something that. 00:41:34
We investigate and see if that's possibility. 00:41:42
Creating that innovation development district. 00:41:45
As possible for you so well now that would be money we we would. 00:41:49
We would realize down the road. 00:41:55
Because it's similar to the TIFF and that's similar to TIFF meaning that like if we set it up this year. 00:41:58
We would see we may not see gains until So this is certified tech. 00:42:05
It's, it's they're going, they're moving away from that. And he was explaining it to Donna now when we met with Corey, you know? 00:42:10
I haven't hit down to research and we'll reach back out and set up a time to have a conference call by ADC and talk through the 00:42:16
Innovation Development District. And I just understood that it would mean we would click, we would we would see a gain once 00:42:22
development started to occur within that district. 00:42:28
So if that's what I thought, it was similar to the TIF district in that it would get reassessed or something, some assessment, 00:42:34
capture more of the sales to capture sales tax. 00:42:39
So this is sales tax in what area? 00:42:44
So you set. 00:42:49
You set this district. 00:42:50
Yeah. So I mean it was just similar to the tip, similar to the tip. So what what's the parameters on saving it up? Well, that's 00:42:53
we, I, I talked about that. So I think that'd be a, a big phone call to have. And if you all are interested, I can set up some 00:42:59
type of Teams meeting or maybe five through that. 00:43:06
You know, right, Like, can you just mushroom it out? So yeah, I think we want to look into that, OK. 00:43:14
Just real quick, I think I gave you an update. We have two folks that moved in with I. 00:43:22
In addition, I US craft tech and vet Nexus. I think it gave you that at the December, at the December meeting, but just a real 00:43:28
quick update on that. 00:43:34
Christmas in the county. We had our post meeting yesterday. 00:43:41
December 7th, so we're going to start. 00:43:45
Doing some planning on that, that we have about three, 350 people there. 00:43:48
Marketing update Cell sheets been reviewed. 00:43:53
Has been. 00:43:58
It is pretty much I think the only item remaining is a question for the board is. 00:44:00
We have the appraised value of each a lot. 00:44:06
Do you want to add that as the price to the sales? 00:44:10
Sheets because we're and the next step would be to send these out to no, that's a great question. 00:44:16
I've seen them both ways. What haven't you? I mean, I'm saying I've seen them both ways. I'm not an expert in that. I just know 00:44:24
that. 00:44:28
I you know what was the question, Don, do you show it on the marketing material? 00:44:32
And the price, it was a market value. Well, it's when you go to some praise, it's, it's the appraised value. We did that a while 00:44:36
back. Like like it's like not a price, but that's the phrase. 00:44:42
Well, you can always negotiate that price. So we but we went through the price. You know, like when you go to the restaurant, you 00:44:49
want to get the fish and it says market price. You know, you don't know what you don't know what it is until they tell you what it 00:44:54
is. 00:44:58
No, that's not, that's not in my wheelhouse, that's not in my budget. So we approved before we had two appraisals, we offered them 00:45:05
for sale. We got essentially no takers. Redevelopment Commission can negotiate whatever the offers is, which is what you're saying 00:45:11
market price or not, but. 00:45:17
That's I'm just trying to synthesize that, make sure I'm on the same page. Yeah, we walked through all those steps. 00:45:23
And the question is, do you want to put that price on the? 00:45:31
To me I think it's probably 6-1, might have half a dozen the other. I think in one way it gives you the at least gets people a 00:45:36
known price. 00:45:41
And gets it lets you know we're talking about an $80.00 property or $100,000. Well, but The thing is, yes, so we have the 00:45:47
opportunity to negotiate a price we do above or below market. There's pros and cons based on that. What does, what does one SI 00:45:52
recommend or someone? I mean we've got some assistance, you know this. So what are they what are they recommending to us are they 00:45:58
saying? 00:46:03
I think they they solved in both ways when? 00:46:09
I was going to say, I think they said River Ridge does, whatever the phrase. 00:46:14
That would also maybe entice folks because we're probably under Rd. Ridges. They could. I mean, it could. 00:46:20
That's why I brought that, yeah. 00:46:31
Market price, but at least maybe kind of give negotiated market price. 00:46:36
I mean, they look at simple. Yeah, this is way out of range. Hey, this is. 00:46:43
Yeah, that's the other flips. That's what God's saying. That's the flip side too, is if you do list it, you say. 00:46:47
I guess you could. 00:46:54
You just make a blanket statement of lots ranging from. 00:46:56
Yeah, 50,000 to 200,000 or. 00:47:00
That's probably a third way of doing it. Yeah, that's a fairway. 00:47:04
I'm not sure people are gonna. 00:47:09
If you put market or. 00:47:11
Some other phrase I'm not sure people are, really. 00:47:13
Shy away the people that are looking, they will. 00:47:16
You'd like them to make the phone call. 00:47:19
To reach out. 00:47:22
I do like the range, you know, that way you're not specifically putting prices on each lot that you're just ranging it to say we 00:47:24
if you want just, you know, you want in the game, but in the corner you might be looking at the lower price, but if you want the 00:47:29
premium, you might be looking up here. It gives him some idea, but it's still negotiable. 00:47:35
And you can say price range dependent upon location size, right And gives right? That's right. That's why it varies. 00:47:41
See if they can come up with something like that. I like that. 00:47:50
Yeah, you still got a few more here. 00:47:58
That's all right. Development agreement is a big one. Development agreement we Bob and I met with with Chad Sprigler and Mac 00:48:02
regarding some questions on the soils and the geotech for. 00:48:09
Majority of it is not the bot crop right on the buy. They're talking about revising the schedule because we had a certain schedule 00:48:17
in there because of because of just the start time to think and then the weather and I've not heard back on what they found out. 00:48:24
They haven't yet. I'm betting they're probably going to do it now that the ground's frozen versus because they were going to make 00:48:31
a mess before that. I mean now that deal is frozen so the the. 00:48:39
Couple things were. 00:48:47
And I don't think either of you were in here, Justin was in here. 00:48:49
We were talking about soils and the soil question is that. 00:48:52
At the beginning of the. 00:48:56
Project before it was been. 00:48:59
Sprinkler Head of Souls report. 00:49:01
Wait, about geotechnical pharmacy? 00:49:03
That firm. 00:49:05
Said here's how much topsoil is that. 00:49:08
And it was. 00:49:10
I don't know what the number was, 8 inches, it's close to that. 00:49:12
8 inches of depth, that's what you. 00:49:15
Matt got started, did that, took it all off. 00:49:19
A separate geotechnical firm came out to do the construction testing and they said you got to keep going, you're still in topsoil. 00:49:22
And they were saying up to another 1618 inches, 2 feet, 2 feet, two more feet. And they were like, whoa, whoa, whoa, that that's a 00:49:30
big difference. That's a lot of extra material. 00:49:35
So, Long story short. 00:49:41
A potential option is just to let the ground dry some and come back in the. 00:49:44
Drier months and wait and get through this wet weather in the spring. 00:49:50
That impact schedule. 00:49:54
And also to have it tested so they're having the original firm come back out and do the test. 00:49:56
Find out because we need assurances too, because it's underneath our parking lot. 00:50:02
But to Don's point, the bigger concern is on sprinkler side, on our side. 00:50:07
He's got building pads going in underneath of it. That's what they need to know. They're like, what am I supposed to do with this? 00:50:11
So for our part, they're going to continue on with the sewer work. We're getting the sewer done. And I don't know how far they've 00:50:18
gotten down. I haven't been out there to check, but I know they were making their way up the hill. 00:50:24
Last time I checked they were doing that component. I know Sprinkler has started on renovating the building and he mentioned that 00:50:31
Dan about inviting Marie Development Commission out. 00:50:37
Yeah, maybe 2-3 weeks. 00:50:43
Gonna take a look at that, he said. The building, the finally walk into it, I saw what they were doing. I mean, you can see the 00:50:45
lights on inside of it. 00:50:49
So, so basically there's probably going to be some type of amendment or schedule change to the, to the, to the project. It will 00:50:54
amend the. 00:50:59
At a minimum, we're going to amend the schedule. 00:51:04
Sprinkler was like, well, we got to meet the redevelopment schedule we agreed to, Max said. Well, if you need to meet that. 00:51:07
Based on what you did text tell us, we got to do sole amendments, we got it then it's costly. 00:51:14
And John? And I'll meet with him. That's it. 00:51:19
We're OK. We're as long as we can amend the schedule, we're OK. 00:51:22
I think being in a rush. 00:51:27
So we don't have an answer on that yet, but we'll come back to you. 00:51:30
We should be able to come back to at the next meeting, Don Yeah, no, that's I think we have answers this week and then the the BLT 00:51:34
schedule we're. 00:51:38
Are I guess I'm down to schedule for the public hearing? 00:51:43
We've, we've got all of our approvals. Council approved it at their last meeting. We're going to be setting up, I'm waiting on 00:51:47
schedule for the public hearing, which will be in February for the financing part, right. 00:51:54
Because we don't actually have a BOT agreement with them. We're just operating on a reimbursement agreement right now. So we have 00:52:02
to finalize that. Yeah, that's when we approved one, but we approved entering into one in October. So what when are we going to do 00:52:08
the public? I need to reach out with Justin and Brad, bring him and for the advertising, yeah. 00:52:15
OK, just send that out to us. Do it really, we will know. 00:52:23
And then just real quickly, I. 00:52:28
Setting up a time to me. 00:52:31
One of the last Latin projects we've got. 00:52:35
I'll move to some of the different ones, but. 00:52:40
Meeting with that developer and sitting down with financing they got through their zoning for that area. They've submitted some 00:52:43
preliminary they we've got numbers back. We submitted those numbers out to Crow in terms of what what the. 00:52:50
Tax increment would be based on what they've told us that they're bringing to that that parcel. So I think after that there's a 00:52:58
conversation to have with them on. 00:53:03
And I think I would kind of suggest that we move in the direction of a pass through type of grant. 00:53:09
For this one instead of bots and things like that I think. 00:53:17
Just passing it through and letting letting us use that statutorial. 00:53:22
Component and then I've got one item off the agenda, one item on the agenda that is met with the town of Georgetown's 00:53:27
Redevelopment Commission and. 00:53:32
And looking to do some type some type of restaurant pitch contest for that corridor just to bring in some new restaurants. 00:53:39
Small business. So I will have a framework for you, but just want to let you kind of give you a heads up that's kind of out there 00:53:49
in the ether moving forward. And then yes, not yesterday, Friday I got a call from. 00:53:57
Danita Burks. 00:54:05
Requesting Nova Park as an election site. 00:54:07
For early voting and for. 00:54:13
I guess day of voting. 00:54:15
You only use the whistle stop. 00:54:17
Building to bed so the granny flash the granny she I think the only the only issue there are not even really an issue is she 00:54:24
mentioned that she'd like to have the whole building for the Memphis. 00:54:31
April and we have already some things already planned. 00:54:38
So the entire building. 00:54:42
Yeah. And so once they put the election machines in there, I think they just use half of it. 00:54:45
Well, that's what I. 00:54:51
I mean, I'm just being a good staff member because I can tell you, well, I mean, half of it's no smaller than the community club 00:54:54
and that's where I do early. But I mean, it's. 00:54:59
Yeah, it's like in the the room closest to the. Yeah, just. 00:55:05
State Road 64. That's what I was thinking. 00:55:12
You can secure it, I would probably suggest. Yeah, the one that's closest to State Road. Yeah, the one that doesn't have the last, 00:55:15
that's the one I was going to. 00:55:20
I would totally be open to that, just half of it, because for the whole month. 00:55:26
She's asked for early voting and maybe for early voting, but then for Election Day primary, maybe have the whole building for 00:55:31
Election Day you could. 00:55:36
If if there's no conflict, yeah, no, I, I, I, I was I was thinking that way too is Election Day. We can already square that out of 00:55:41
the whole building, but to have that complete that whole building out off offline for. 00:55:48
For a month. 00:55:57
Should we do a motion for that? 00:55:59
We're gonna last someone. We'd entertain a motion to allow early voting to occur. 00:56:01
Building to using the. 00:56:07
North. 00:56:10
Side of the building. 00:56:12
North, yeah, north side of the building. 00:56:14
For early voting for the month of. 00:56:17
I don't know how long she needs month of April. 00:56:20
And to also allow the full use of the building the day of lab day of Election Day. 00:56:23
So second. 00:56:30
Motion by Brad, second by John. Any further discussion? 00:56:32
Parking. I know we've got some parking down. We have that for like handicapped. 00:56:36
Well, I mean, it's already striped, so. 00:56:40
In the parking around bag. 00:56:43
Yeah, but I would. Is there, is there a walkway? Yeah. 00:56:47
We've got to walk. We've got a walkway. So we've got, we've got. 00:56:51
Yeah, there's plenty more, yeah. 00:56:59
All right, aye. 00:57:02
Opposed motion carries. 00:57:05
Anything else Done? Not for. Not for me. OK. You guys have anything? Yeah, I do. I know. 00:57:08
About a week and a half ago. 00:57:17
Did y'all meet with the out there at Regional Park? About four H and all that. 00:57:19
With an anime, yeah. We had a meeting that was myself saying Brad came a little late and it was Denise and Matt Dennison. 00:57:27
Just to explain to them they are at P process for. 00:57:36
The Regional Park and for community. 00:57:40
OK, I know. 00:57:44
Topic was brought up about maybe using. 00:57:45
The building 3 and 4. 00:57:48
Building 3 or Building 4? 00:57:51
Money to. 00:57:53
Put that into part of the Regional Park and was that brought up? 00:57:56
Well, that's ready money that's going into to the building. 00:58:01
Good. 00:58:10
OK. Anything else? Great. Motion to adjourn, to adjourn by John. All in favor say aye, aye, we're out of here. 00:58:13
Hang around so we can sign some stuff. 00:58:20
Do you need this? 00:58:24
Don, I did. We didn't vote on that. Oh, shoot. Audit certification. 00:58:27
Information. OK, Thank you. 00:58:32
CBA finals. That's fine, I'm just making sure we didn't miss something. 00:58:35
All right. 00:58:41
Teresa, I've pulled this out. 00:58:44
I don't know. That was what we were talking about with. 00:58:46
Brian, I just initialed it. 00:58:49
Let me just leave that. 00:58:52
There we go, Bob. Thanks. 00:58:54
I have two, right? 00:58:59
Do what? 00:59:03
That's all good. 00:59:09
He gets paid the extra. That's right. I get that's right. They pay me Devil's salary, these guys. 00:59:10
Yeah, The last question is. 00:59:16
I just right now we're talking, we're only going to coordinate having groceries in this meeting. 00:59:21
I don't need groceries. I need groceries. We cracked up. 00:59:26
Oh, we were. 00:59:31
They were doing their organization when we were here. 00:59:35
We were the three amigos, but that means instead of and just to see make sure Brad and everything can get reported and I don't 00:59:39
know. Whichever it was, it was the end. It was the youth shelter. 00:59:45
Well, I thought I was going to say something profound about being on the board. 00:59:52
Because I asked them, they only want to be a part of those meetings. He's like, well, he sits back. He's like, well, like, OK, 01:00:00
he's going to come up with something good Groceries there. 01:00:07
Do they have snacks? 01:00:15
People are confused. She's like, you know, snacks. 01:00:18
And so we decided we're gonna have groceries. 01:00:22
Thank you. 01:00:29
Anyway, all right guys. 01:00:32
I'm glad you said something. Oh, I'm sorry. 01:00:36
That's fine, you're right, I looked on my account. 01:00:41
Like you're right. 01:00:46
What's wrong? You didn't play basketball? Never seen it before. 01:00:50
Yeah. 01:00:58
Yeah, I know. 01:01:18
Must be. 01:01:21
Does he he want to identify himself for you? 01:01:24
OK. And I wasn't going to. 01:01:28
Pressure. 01:01:30
All right. 01:01:31
Stay warm. 01:01:33
That's a great well, it's not a tip time, right? Like where do the funds come from? 01:01:56
The transfer city, right? 01:02:02
Transferred over. 01:02:04
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