* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.
          [00:00:02]
          IN ATTIC DECLARE THE PLAINTIFF CITY 
          [PRELIMINARY OPEN MEETING]
COUNCIL'S CONVENED AN OPEN SESSION THAT ALL COUNCIL MEMBERS ARE PRESENT. 
          THE COUNCIL WILL NOW RECESS INTO EXECUTIVE SESSION AND TRAINING ROOM A TO HOLD A CLOSED EXECUTIVE MEETING PURSUANT TO THE PROVISIONS OF VERNON'S TEXAS CODES ANNOTATED GOVERNMENT CODE CHAPTER 5 51. 
          THE OPEN MEETINGS ACT IN ACCORDANCE WITH THE AUTHORITY CONTAINED IN SECTION 5 51 0 71 TO CONSULT WITH THE ATTORNEY AND RECEIVE LEGAL ADVICE AND DISCUSS LITIGATION. 
          I FAILED TO MENTION THAT, UH, COUNCIL MEMBER SMITH IS ON ZOOM AND MAYOR PRO TIMM, UH, WILL BE HERE, UH, SHORTLY. 
          THAT BEING SAID, ADJOURN ON ATTIC. 
          DECLARE THE PLAINTIFF CITY COUNCIL PRELIMINARY OPEN MEETING IS RECONVENE AND OPEN SESSION THAT ALL COUNCIL MEMBERS ARE PRESENT. 
          COUNCIL MEMBER SMITH WILL BE ON ZOOM. 
          OUR FIRST ITEM ON THE PRELIMINARY AGENDAS CONSIDERATION ACTION RESULTING FROM THE EXECUTIVE SESSION. 
          OUR NEXT ITEM IS DISCUSSION DIRECTION REGARDING RETAIL REVITALIZATION PROGRAM. 
          PETER, GOOD EVENING, MAYOR AND COUNSEL, LET ME FIRE THIS UP. 
          HEY, WAS HERE IN OCTOBER AND WE KIND OF SKIMMED OVER THIS AND, AND BEFORE YOU GOT IN YOUR PACKAGE, SORT OF A FULL BLOWN WRITTEN POLICY. 
          IT'S VERY MUCH IN LINE WITH THE NEW ECONOMIC DEVELOPMENT POLICY. 
          IN FACT, I THINK THE FIRST PAGE IS ALMOST EXACTLY THE SAME. 
          UM, AND SO I WANTED TO GO OVER QUICKLY SOME OF THOSE THINGS WE COVERED IN OCTOBER JUST TO REMI REMIND YOU THAT THIS IS A, A PHILOSOPHY FOR RETAIL REVITALIZATION FOR SOME OF THE OLDER SHOPPING CENTERS THAT WE HAVE. 
          AND, UH, IT REALLY IS ABOUT, UH, NOT PAYING FOR EVERYTHING, BUT SORT OF HELPING ENHANCE. 
          AND I HAVE AN EXAMPLE LATER ON TO SHOW YOU ABOUT HOW WE DID IT, BUT IT REALLY IS ABOUT UPPING THE ANTE AND GETTING SOMETHING BETTER THAN, UH, OTHERWISE. 
          AND SO THERE'S A WHOLE HOST OF GRANTS. 
          I'D LIKE TO JUST QUICKLY GO THROUGH THEM. 
          UM, AND THIS IS REALLY SUPPOSED TO BE A, UH, A TOOLBOX, IF YOU WILL. 
          AND THAT TOOLBOX IS, UM, GOING TO BE IN AGREEMENT FORM AND YOU SEE IT AND LINE ITEM PER THE GRANT, JUST LIKE YOU ARE SEEING THE NEW, UH, UH, ECONOMIC DEVELOPMENT AGREEMENTS WHERE THEY'RE SORT OF LINED OUT BY TYPE. 
          AND SO WE WOULD CONTINUE TO DO THAT. 
          AND AS WE BRING ANY PROJECT FORWARD, IT'S IMPORTANT TO REMEMBER THAT YOU GET TO CHOOSE TO DO THOSE OR NOT. 
          IT'S UP TO YOU. 
          UM, BUT WE'LL GIVE YOU RECOMMENDATIONS AND THEN WE'LL MOVE FORWARD FROM THERE. 
          UM, SO, UH, WE HAVE THE LOCATION GRANT. 
          THIS IS VERY TYPICAL. 
          UM, SOMETHING THAT WILL CH REALLY CHANGE THE GAME FOR THE CENTER. 
          A LEASE BUYDOWN. 
          REMEMBER THAT THESE WOULDN'T BE USED FOR JUST ANYTHING. 
          THIS IS REALLY SOME OF THOSE BUSINESSES THAT NOBODY WANTS TO SEE IN THEIR NEIGHBORHOOD OR REALLY JUST HOLDING THE CENTER BACK FROM REDEVELOPMENT AT ALL. 
          UM, IT IS AN EXPENSIVE PROPOSITION. 
          THIS ISN'T MEANT THIS GRANT ISN'T MEANT TO PAY FOR ALL OF THAT. 
          IT'S JUST TO HELP 'EM OVER THE HUMP, IF YOU WILL. 
          FACADE IMPROVEMENTS, VERY TYPICAL. 
          WE'VE DONE THIS BEFORE, AND I'LL SHOW YOU THAT EXAMPLE. 
          DEMOLITION QUITE SELF-EXPLANATORY. 
          UM, IF YOU REALLY WANNA REDEVELOP THE CENTER, SOME OF THESE BIG BOXES WILL HAVE TO COME DOWN. 
          THEY ARE BUILT IN SORT OF A FORM THAT ARE NOT EASILY CONVERTED. 
          SOME CAN BE SPLIT. 
          WE'VE SEEN THAT AT PARK AND PRESTON. 
          UM, BUT SOME CAN'T. 
          SO THAT'S WHAT THAT IS. 
          LANDSCAPING. 
          SOME OF THE OLD SHOPPING CENTERS PREDATE OUR LANDSCAPE ORDINANCE, AND YOU'LL, THAT'S WHY YOU DON'T SEE LANDSCAPING IN A LOT OF THESE CENTERS. 
          THIS IS AN EXAMPLE, I BELIEVE, ON CUSTER, UM, LIGHTING. 
          AGAIN, THIS IS ABOUT SAFETY AND MAKING THE SHOPPING CENTER, UH, BETTER AS WE MOVE ALONG. 
          UM, SIGNAGE, THIS IS AN EXAMPLE HERE IN PLANO, A LITTLE BIT MORE ABOUT THE CENTER IN A MINUTE, BUT THIS CENTER, YOU CAN SEE IT JUST A WHOLE PLETHORA OF DIFFERENT STYLES OF SIGNAGE. 
          IT'S NOT SO MUCH THE COLOR, IT'S REALLY ABOUT SOME OF 'EM. 
          YOU PRE PREDATE SOME OF OUR SIGNAGE ORDINANCES AS WELL. 
          UM, THAT'S HOW SORT OF OLDER SOME OF THESE CENTERS ARE PAVING. 
          UM, IT'S VERY SELF-EXPLANATORY. 
          THIS WOULD ALSO INCLUDE SOME UTILITY WORK. 
          UM, AND THEN NEIGHBORHOOD CONNECTIONS. 
          THIS IS A LITTLE TRICKY, BUT IF WE REALLY WANNA MAKE THEM WALKABLE TO THE NEIGHBORHOOD, OPEN UP, UM, TO THE SURROUNDING AREAS, THIS WOULD BE, UH, SOMETHING WE SHOULD CONSIDER. 
          ALTHOUGH MAYBE NOT FOR EVERY CASE. 
          AND CERTAINLY THE NEIGHBORHOODS WOULD HAVE TO BE ON PART OF IT. 
          THE PROGRAM WOULD WORK. 
          WELL, OF COURSE, THE FIRST THING WE NEED IS A WILLING PARTNER. 
          WE CAN'T JUST GO AND, AND WAVE OUR MAGIC WAND ON THESE THINGS, BUT IT W THERE IS SOME SORT OF, UM, THE POLICY ITSELF GIVES YOU SOME DATA ON WHAT KIND OF PROJECTS THAT WE ROLL, THE GRAND PROCESSES, PROTOTYPICAL WHAT WE'VE BEEN DOING THROUGH THE ED DEPARTMENT, WHICH IS, UM, INTERNAL REVIEW, IMPACT, DATA ANALYSIS, THE WHOLE PLETHORA OF THINGS 
          [00:05:01]
WE DO TO, TO DO THAT. 
          UM, NOTHING WOULD BE DIFFERENT, BUT I WANTED TO GIVE YOU A FEW EXAMPLES OF WHAT I THINK WE CAN DO. 
          UM, THIS ACTUALLY HAPPENED A FEW YEARS AGO. 
          THIS IS GREEN VINE MARKET RIGHT HERE BY CITY HALL. 
          THIS IS WAS A TOURIST PROJECT, SO NOT UNDER THIS POLICY, BUT SOME SOMETHING'S VERY SIMILAR. 
          WE GAVE THE TOURS, UH, AND YOU GRANTED THIS PROJECT $500,000 TO IMPROVE ITS FACADE, UM, AND A FEW OTHER THINGS, SOME LANDSCAPING. 
          BUT YOU CAN SEE IN 2019 WHAT IT LOOKED LIKE. 
          THE PICTURE UNDERNEATH IS WHAT IT LOOKS LIKE TODAY. 
          UM, I THINK I TOOK THAT PICTURE ON FRIDAY. 
          UM, AND THE DIFFERENCE IS QUITE STRIKING ON ITS VALUE. 
          AND THAT'S WHAT REALLY WHAT WE'RE TRYING TO DO IS HOW DO WE USE OUR MONEY TO MAKE THIS BETTER. 
          IN THIS PARTICULAR CASE, A LOT OF THAT MONEY WENT INTO THIS WEST, THIS SOUTH FACING FACADE, WHICH WAS REALLY JUST GOING TO BE PAINTED. 
          AND SO NOW WITH OUR MONEY, THE FRONT FACADE GOT A LITTLE BIT BETTER THAN ORIGINALLY PLANNED, AND THEY COULD DO THIS WHOLE, UH, SOUTH FACADE TO MAKE IT LOOK LIKE ONE COHESIVE UNIT. 
          AND THE SOUTH FACADE IN THIS CASE WAS REALLY IMPORTANT BECAUSE IT FACES 18TH. 
          AND SO A REALLY IMPORTANT STREET HERE IN DOWNTOWN. 
          AND THAT'S REALLY WHAT HAPPENED WITH OUR MONEY AND WHY THE PROJECT IS AS GOOD LOOKING AS IT IS AND COMPLETE. 
          SO USING THESE TOOLS, HOW CAN WE IMAGINE, UM, HOW CAN WE IMAGINE USING THESE TOOLS? I JUST PICKED ONE OF OUR OLDER SHOPPING CENTERS. 
          THIS HAPPENS TO BE AT 14TH AND JUPITER. 
          THE OUTLINE YOU SEE ON THE SCREEN IS THE PARTIAL ITSELF. 
          THAT IS THE RETAIL STRIP CENTER. 
          AND AS YOU CAN SEE, UM, FROM THIS IS, UH, 2023 CAD VALUES OR, UH, CENTRAL APPRAISAL DISTRICT. 
          AND YOU CAN SEE JUST HOW MUCH VALUE THE COUNTY PUTS ON THIS THING, WHICH ISN'T, I DON'T KNOW OF ANY PLACE ELSE WHERE IT'S $12 FOOT FOR FOOT OR BUILDING. 
          UM, I JUST DON'T GET IT. 
          UM, BUT THAT'S WHAT IT IS. 
          THE NEXT DOOR IS THE, UM, IF, YOU KNOW, THE SITE IS THE BINGO PARLOR AND THAT BUILDING IS AT $91 A SQUARE FOOT. 
          SO THEY'RE ABOUT ROUGHLY THE SAME SIZE, AND YOU CAN SEE THE DIFFERENCE IN JUST IN VALUE AND HOW, UM, OLDER AND JUST NOT, UH, UP TO MODERN STANDARDS. 
          THE, THE SHAPE OF THE LOT IS ALSO KIND OF CRAZY, BUT THAT'S JUST LEFT OVER FROM WHAT IT WAS DEVELOPED. 
          THESE ARE SOME PICTURES, AGAIN, THE SIGNAGE THAT YOU SEE, THE FRONT FACADE, WHICH IS REALLY AGING AND JUST NOT ATTRACTIVE ANY LONGER. 
          AND THEN YOU'LL SEE THE PAVING AND LANDSCAPING IN THIS AREA, WHICH IS REALLY NEAR FAILURE. 
          UM, YOU KNOW, WE WOULD, IT JUST, IT REALLY NEEDS HELP FROM FRONT TO BACK ON THIS THING. 
          I DON'T KNOW IF THEY'RE A WILLING PARTNER, BUT I WANTED TO SHOW YOU SORT OF THE PROTOTYPICAL THINGS THAT WE WOULD LOOK FOR TO SEE IF, YEAH, YOU COULD JUST SEAL THIS, BUT CAN WE DO SOMETHING ABOUT EVEN GETTING NEW PAVEMENT IN THERE? AND SO THAT'S REALLY WHAT THIS PROGRAM IS, IS TO TAKE IT. 
          THE IDEA WOULD BE TO TAKE IT FROM THE MINIMUM TO MAKE IT SOMETHING EVEN BETTER. 
          SO WITH THAT, THAT'S MY PRESENTATION. 
          I KNOW I READ RATHER QUICKLY, BUT NO, ANY QUESTIONS. 
          AND PETER, FOR CLARIFICATION, UM, THIS IS JUST TO ADD THE TOOLS TO THE TOOLBOX. 
          EVERY AGREEMENT WOULD COME BACK TO COUNCIL FOR THEIR CONSIDERATION AND FOR THEIR EVALUATION, WHICH WOULD INCLUDE THE IMPACT DATA, UH, TO SHOW WHAT THE, THE VALUE AND THE RETURN BACK TO THE CITY WOULD BE. 
          THAT'S RIGHT. 
          AND THE AGREEMENTS WOULD HAVE THEM LINED OUT. 
          SO IT WOULD BE SO MUCH FOR THIS AND SO MUCH FOR THAT, NOT JUST ONE SORT OF POT OF MONEY. 
          GOT IT. 
          MARIA. 
          SO I JUST HAVE A QUESTION ABOUT, UM, THE REVITALIZATION. 
          I ACTUALLY, I, I LIKE THE IDEA, BUT, UM, WHAT, HOW ARE WE APPROACHING THOSE, UM, RETAILERS WHO WE BELIEVE NEED TO UPDATE? I MEAN, DO WE, DO WE APPROACH THE LANDLORD OR DO WE APPROACH THE, THE PEOPLE WHO ARE ACTUALLY, UM, YOU KNOW, OPERATING INSIDE THOSE RETAIL, UM, OUTWARDS? SO THE SHORT ANSWER IS BOTH. 
          UM, TODAY THERE WAS AN ARTICLE IN, UH, IT WAS ONLINE. 
          I FORGOT WHICH NOTICE, BUT IT TALKED ABOUT THE, UM, THE CHRISTMAS WAREHOUSE ON 15TH. 
          EVERYBODY KNOWS WHERE THAT IS ON INDEPENDENCE. 
          THEY ARE DOING A LIQUIDATION SALE. 
          THEY'RE NOT EXITING THE PLACE AT ALL. 
          UM, BUT IT WAS AN IMPETUS FOR ME TO REACH OUT TO, AND WE HAVE THE TOOLS TO REACH OUT TO THE LANDLORD OF PROPERTY OWNER AND THE MANAGEMENT COMPANY TO SAY, HEY, IF IT, THEY ARE LEAVING, ARE THEY NOT LEAVING? UM, ARE YOU, IS IT TIME TO DO A REFRESH? I NOTICED THAT IT WAS A LITTLE SORT OF BEHIND THE TIME AND THEY CALL ME BACK WITHIN MINUTES OF MY EMAIL AND SAYING, WE CHATTED SOME LONGER ABOUT THIS PROGRAM COMING UP. 
          AND YES, THEY, THEY'RE THINKING ABOUT THE PARKING LOT NEEDS TO BE REDONE, THE FACADE NEEDS TO BE REFRESHED. 
          UM, AND BECAUSE THE WAREHOUSE IS KIND OF GOING THROUGH A A PHASE IN ITSELF, IT WOULD BE A GOOD TIME. 
          SO IT'S REALLY ABOUT OPPORTUNITY IN SEIZING THOSE OPPORTUNITIES. 
          A LOT OF TIME NEW USES COME EITHER THROUGH THE PERMIT DEPARTMENT OR PLANNING, AND SO IT'S JUST, UM, COORDINATING WITH THOSE DEPARTMENTS TO BUBBLE UP THOSE KIND OF OPPORTUNITIES. 
          SO MY, MY QUESTION SPECIFICALLY, WHERE WHO GETS THE MONEY? I THINK THAT'S, THAT'S OH, I SEE WHAT YOU MEAN. 
          WELL, I GENERALLY IT WOULD BE THE 
          [00:10:01]
LANDLORD WHO GETS THE MONEY. 
          UM, AND SOME OF THE TIMES THERE'S OPERATING AGREEMENTS WHERE THE, THERE'S A, A LEASING AGENT THAT HAS CONTROL OR PIECES OF ALL THE DIFFERENT PROPERTIES. 
          UM, A WEITZMAN IS FAMOUS FOR THAT, WHERE THEY HAVE, THEY DON'T REALLY OWN IT OUTRIGHT, BUT THEY OWN A STAKE IN SOME OF THEM. 
          AND SO WE WOULD WORK WITH THE WHOMEVER, BUT THE GRANTS WOULD HOPEFULLY GO TO THE PROPERTY OWNER, IF NOT THE MANAGEMENT COMPANY THAT RUNS THE CENTER WHO'S DOING THE WORK. 
          THIS WOULD BE REIMBURSEMENT WORK, SO IT WOULDN'T BE CASH UPFRONT. 
          IT WOULD DEFINITELY BE A REIMBURSEMENT. 
          YEAH. 
          PETER, BACK ON, ON, ON THE, UM, LANDSCAPING INTO PAVING. 
          OKAY. 
          ONE OF THE ITEMS WE DISCUSSED, I THINK IT WAS EVEN UH, TWO MEETING OR A MEETING AGO, WAS PARKING. 
          WE GOT A LOT OF GRAY DESERTS OUT THERE. 
          THERE'S A, A LACK OF A A BETTER TERM. 
          HERE'S A GOOD ONE. 
          YEAH. 
          YOU KNOW, AND IT WAS KIND OF LIKE, WE HAVE TOO MANY PARKING SPACES. 
          SO WHEN, WHEN WE SAY WE'RE GONNA GO OUT THERE AND HELP 'EM WITH PAVING AND OR LANDSCAPING TRYING TO BREAK THIS UP, I SOMEWHAT HAVE A, A TOUGH TIME WITH THAT WHEN I'M TRYING TO FIGURE OUT WHAT'S A BETTER UTILIZATION OF THAT PIECE OF PROPERTY THERE. 
          UM, IS THAT SOMETHING WE LOOK AT WHEN WE START GOING THROUGH THIS? WE DO. 
          I THINK THE NEW, UH, WAY OF LOOKING AT RETAIL IS MUCH MORE OPEN SPACE. 
          FROM THIS EXAMPLE AT GREENE, IF THERE WAS A STRIP OF PARKING OUT FRONT, THE, THE PEOPLE REMOVED THAT PARKING AND MADE PATIO SPACE SO YOU COULD, 'CAUSE YOU CAN BUY FOOD THERE AND EAT IT PREPARED FOOD. 
          AND SO IT GAVE THEM A PATIO SPACE BY TAKING AWAY THE CARS. 
          THEY HAD PLENTY OF PARKING. 
          UM, THEY DID SOME LANDSCAPING AROUND THE EDGES, NOT WITHIN THE INTERIOR, UM, BECAUSE THE PROPERTY OWNER DIDN'T WANT THEM TO CARVE UP THE PAVEMENT. 
          BUT EVEN ON HERE, THIS ONE, SAME THING, IS THERE, DO YOU REALLY NEED PARKING SPACES OUT FRONT? CAN YOU EXTEND THE FACADE, MAKE THE BUILDING BIGGER, WHATEVER. 
          I THINK WE WOULD, WE WOULD CHALLENGE THE PROPERTY OWNERS WITH ALL OF THAT TO MAKE IT BETTER. 
          IT'S NOT JUST WHAT DO YOU WANNA DO AND HOW MUCH DO YOU WANT. 
          IT'S REALLY ABOUT PARTNERING WITH THEM TO GET A BETTER PROJECT. 
          THANK YOU MAYOR. 
          AND THANK YOU PETER, UH, FOR THAT GREAT PRESENTATION AND FOR ALL OF THE THOUGHT THAT'S GONE INTO THIS. 
          I HAVE TO SAY I WAS REALLY HAPPILY SURPRISED TO SEE THE FINANCIAL ROI TO THE CITY ON, ON, UH, SOME OF, UH, THE INVESTMENTS LIKE THE, THE GREEN VINE FACADE. 
          YEP. 
          AND, UH, I LOVE THE GUARDRAIL, UH, YOU KNOW, THAT'S MENTIONED THAT, UH, EACH PROJECT WILL HAVE A NET FINANCIAL BENEFIT TO THE CITY. 
          I THINK I THINK THAT'S A, A REALLY GOOD GUARDRAIL. 
          SO, SO THANK YOU FOR THAT. 
          I MEAN THAT, THAT'S EXCITING STUFF AND, AND, AND ALSO EXCITING TO SEE THE REVITALIZATION. 
          ONE QUESTION I HAD WAS, UH, I WAS ALSO VERY HAPPY TO SEE THE MENTION OF LOANS IN THE PURPOSE STATEMENT. 
          UH, MOST OF THE DOCUMENT I THINK TALKS ABOUT GRANTS AND, AND, AND I DIDN'T SEE REALLY ANY FURTHER DISCUSSION OF LOANS. 
          I PERSONALLY WOULD LOVE TO SEE MORE EMPHASIS ON, ON LOANS BECAUSE WHEN YOU LOOK AT, YOU KNOW, FOR EXAMPLE, HOW MUCH MONEY WE HAVE IN THE ECONOMIC DEVELOPMENT INCENTIVE FUND, YOU KNOW, THAT BECAUSE OF THE CONSTRAINTS OF THE PUBLIC FINANCE INVESTMENT ACT, UH, YOU KNOW, IS, IS, YOU KNOW, NOT EARNING AS MUCH AS SAY, YOU KNOW, AN S AND P 500 INDEX FUND OR SOMETHING LIKE THAT BECAUSE WE'RE NOT ALLOWED TO INVEST THAT WAY. 
          UM, YOU KNOW, PROVIDING NO, OR LOW INTEREST LOANS COULD BE SOMETHING THAT, THAT MIGHT BE FAIRLY LOW IMPACT TO THE CITY FINANCIALLY, BUT COULD REALLY ENABLE A PROPERTY OWNER TO DO SOMETHING THAT THEY MIGHT NOT OTHERWISE BE ABLE TO DO. 
          AND SO I, YOU KNOW, AND, AND THEN WE GET THAT MONEY BACK IN THE END INSTEAD OF IT JUST BEING A GRANT. 
          SO I'D, I'D LOVE TO SEE, YOU KNOW, MAYBE MORE FOCUS ON THAT. 
          RIGHT. 
          NOT TO TALK TO MR. WELL, THAT MAKES IT SO . 
          I DON'T THINK WE HAVE THE STAFF AT THIS MOMENT IN TIME. 
          YEAH. 
          THE CAPACITY TO DO THAT. 
          I THINK WE HAVE THE TALENT TO DO IT, BUT NOT THE CAPACITY. 
          GOTCHA. 
          IT'S SOMETHING WE WOULD CERTAINLY COULD BUILD TOWARDS. 
          WELL, BUT I, I GET, I GUESS WHAT I WAS SAYING IS, YOU KNOW, UH, UH, IN PLACE OF SOME OF THESE GRANTS, YOU KNOW, SOME OF THESE THAT ARE KIND OF ENVISIONED AS GRANTS HERE, I THINK WE, WE MIGHT HAVE TO LOOK LEGALLY ABOUT, UH OH, OKAY. 
          US BEING A LENDER OR, BUT I MEAN, THAT'S, THOSE ARE GOOD QUESTIONS. 
          OKAY, GOTCHA. 
          WELL, YEAH, ANYWAY, I'D LOVE TO LEARN MORE ABOUT THAT. 
          SO, SO THANK YOU. 
          SURE. 
          WELL, AND, AND THEN I DID, I DID HAVE ONE JUST QUICK LAST QUESTION, WHICH IS, UM, YOU KNOW, IT STRIKES ME THAT THIS IS KIND OF A, A, YOU KNOW, A MINIATURE VERSION ALL OVER THE CITY OF WHAT WE DID WITH COLIN CREEK MALL AND, UH, YOU KNOW, IN, IN A WAY, RIGHT?   WELL, NO, BUT YOU, YOU KNOW, LIKE HELPING, HELPING TO SPUR REVITALIZATION THROUGH, YOU KNOW, PUBLIC FINANCE INVOLVEMENT. 
          UM, AND, UH, ONE THING THAT AS YOU MAY REMEMBER WAS, WAS IMPORTANT TO ME ON, ON THAT PROJECT WAS, UH, YOU KNOW, MAKING SURE THAT THE CITY'S FINANCIAL INVOLVEMENT WAS RIGHT SIZED TO THE FINANCIAL NEED OF THE DEVELOPER TO MAKE THE PROJECT MAKE SENSE FOR THEM TO MAKE IT PENCIL. 
          UM, I'D LOVE TO SEE SOMETHING IN THE, IN THE POLICY WHEN IT COMES BACK TO US THAT, YOU KNOW, THAT WE'RE GOING TO KIND OF EVALUATE WHAT LEVEL, YOU KNOW, GIVEN THE, THE FINANCIAL SITUATION OF THE DEVELOPER AND THE PROPERTY THAT WE'RE GOING TO EVALUATE WHAT LEVEL OF CITY FINANCIAL PARTICIPATION IS NECESSARY TO MAKE THE REVITALIZATION HAPPEN. 
          [00:15:01]
SURE. 
          SO, UM, IN THIS CASE, THEY, UH, THE OWNER OF THE GROCERY STORE, NOT THE PROPERTY, WAS PUTTING ABOUT FOUR AND A HALF MILLION DOLLARS INTO THE, AND IF YOU'VE BEEN IN THERE, YOU COULD TELL HE SPENT EVERY PENNY OF IT. 
          MM-HMM. 
          AND WE PUT IN 500 AND THAT WAS, IT'S NOT ROUGHLY 10, IT'S ROUGHLY 10%. 
          SO THE RULE OF THUMB THAT WE TRY TO GO BY IS ROUGHLY 10%. 
          UM, AND IT SEEMS TO BE A GOOD SWEET SPOT. 
          AND SO THAT'S WHAT WE WOULD SORT OF GO AHEAD AND CONTINUE TO DO. 
          AGAIN, IT'S NOT TO PAY FOR EVERYTHING, IT'S REALLY TO SORT OF AUGMENT AND PUSH IT EVEN HIGHER. 
          MM-HMM. 
          . 
          AND THIS IS, UM, A GREAT EXAMPLE OF, OF OUR PHILOSOPHY AND WHAT WE'VE DONE IN THE PAST. 
          SO IT'S NOT LIKE COMMON CREEK, IT'S MUCH MORE LIKE WHAT WE'RE DOING IN THE TOUR. 
          OKAY. 
          GOTCHA. 
          WELL THANK YOU FOR ALL OF THAT INFORMATION. 
          IT, THANKS FOR ALL THE THOUGHT THAT'S GONE INTO THIS. 
          THANK YOU, PETER. 
          YOU'RE WELCOME. 
          APPRECIATE IT. 
          LEMME JUST FORWARD IT. 
          THANK YOU. 
          UH, ITEM THREE, SHORT-TERM RENTAL UPDATE, CHRISTINA. 
          ALL RIGHT, COUNSEL AND EXECUTIVES, I'M HERE TO GIVE YOU A BRIEF UPDATE ON WHERE WE ARE WITH SHORT-TERM RENTALS. 
          JUST TO REMIND YOU, WE DO STILL HAVE A SHORT-TERM RENTAL  TASK FORCE. 
          WE ARE STILL DOING THINGS. 
          UM, SO, AND WE'RE MAKING PROGRESS. 
          SO WHAT I'VE GOT FOR YOU THIS EVENING, UH, JUST HISTORY FOR THOSE WHO MIGHT BE WATCHING AND UNFAMILIAR WITH THIS PROJECT, IN OCTOBER OF 22, YOU DIRECTED STAFF TO PREPARE SOME ITEMS TO BRING FORWARD BASED ON ARLINGTON'S MODEL. 
          UH, THAT LED TO MAY SOME ACTIONS WHERE WE ADOPTED AN INTERIM BAN AND THE COUNCIL APPOINTED A TASK FORCE AND THE REGISTRATION ORDINANCE HAS BEEN TABLED SINCE THAT TIME. 
          BUT WE'VE GOT THIS MODEL THAT WE'RE WORKING TOWARD AND WE'RE STILL IN THE OUTREACH AND DATA COLLECTION PHASE, WORKING WITH THE TASK FORCE MOVING, UH, FAIRLY QUICKLY TOWARD PERMANENT MEASURES. 
          SO OUTREACH AND DATA COLLECTION, PHASE ONE IS COMPLETE. 
          YOU RECEIVED A PRESENTATION FROM THE, UH, TASK FORCE AND CONSULTANTS ON THAT. 
          IT WAS THREE FINDINGS, EIGHT ISSUES, SEVEN CONSIDERATIONS. 
          SO THE CHAIR WAS HERE AND WE TALKED ABOUT THAT IN OCTOBER. 
          GAS STRATEGIES HAS DONE PUBLIC OUTREACH, AND WE CONTINUE TO MONITOR THROUGH OUR THIRD PARTY DATA PROVIDER. 
          SO IN PHASE TWO, WHAT ARE WE DOING? CONTINUING TO LOOK AT THE DATA THAT'S BEING PROVIDED BY DECKER TECHNOLOGIES. 
          WE'VE HAD TWO TASK FORCE MEETINGS, ONE IN NOVEMBER, AND THEN, UH, ONE AGAIN LAST WEEK IN JANUARY. 
          AND AT THAT MEETING, UH, THROUGH, AND REALLY THROUGH THOSE, THOSE TWO MEETINGS WE HAVE, BASED ON THE PHASE ONE REPORT, THEY'VE GOT 30 ITEMS THAT WE ARE MOVING FORWARD FOR PUBLIC CONSIDERATION AT AN OPEN HOUSE. 
          SO WE'RE GOING TO KIND OF DEATH THROWS THROUGH THE PUBLIC. 
          UM, THOSE ARE THIS IN-PERSON OPEN HOUSE IS GOING TO HAPPEN ON WEDNESDAY, FEBRUARY 7TH FROM SIX TO 8:00 PM IT'LL BE A COME AND GO EVENT. 
          SIMILAR TO THE OPEN HOUSE WE HAD, UH, IN THE FIRST PHASE, ALSO AT EVENT 10 13 HERE IN DOWNTOWN PLANO. 
          SO WE HOPE PEOPLE WILL BE ABLE TO COME OUT AND JOIN US IF YOU'RE INTERESTED IN THIS ISSUE. 
          WE ALSO HAVE THAT ONLINE, SO PEOPLE THAT MAY NOT BE AVAILABLE THAT NIGHT. 
          THE SAME CONTENT WILL BE AVAILABLE FEBRUARY 5TH THROUGH FEBRUARY 11TH. 
          AND THAT'S AT PLANO STR.COM. 
          SO PEOPLE WILL BE ABLE TO PROVIDE US FEEDBACK ON KIND OF WHERE THEY THINK, UH, IF THEY THINK WE'RE HEADED THE RIGHT DIRECTION. 
          SO AFTER THAT, WE'RE GONNA COLLECT ALL THAT FEEDBACK THROUGH THE OPEN HOUSE PROCESS. 
          HAVE ANOTHER MEETING WITH THE TASK FORCE ON FEBRUARY 28TH. 
          THAT IS PLANNED TO BE THE LAST MEETING. 
          AND FEBRUARY WE WILL BE BEGIN WORKING WITH THE PLANNING AND ZONING COMMISSION, UH, ON THOSE REPEAL OF THE BAN AND WHAT THOSE ZONING ORDINANCE AMENDMENTS MIGHT LOOK LIKE. 
          WE THINK THAT PROCESS IS GONNA TAKE A LITTLE TIME. 
          SO START THROUGH THE WORK SESSION, START INTRODUCING THAT INFORMATION TO PNZ CALL A PUBLIC HEARING SO WE CAN GET THAT A RECOMMENDATION BACK TO CITY COUNCIL IN A TIMELY MANNER. 
          AND INFORMATION ON THE OPEN HOUSE. 
          WE HAVE, WE'RE PROMOTING THAT THROUGH SOCIAL MEDIA. 
          WE HAVE A PRESS RELEASE BEING DRAFTED AS WELL AS POSTCARDS THAT ARE BEING SENT OUT TO RESIDENTIAL OWNERS AND ADDRESSES CITYWIDE THAT I'M AVAILABLE FOR QUESTIONS YOU MIGHT HAVE ON THIS ACTIVITY. 
          THANK YOU. 
          ANY QUESTIONS FOR CHRISTINA REGARDING, UH, THE UPDATE? THANK YOU VERY MUCH. 
          RIGHT, THANK YOU. 
          [00:20:01]
OUR NEXT ITEM IS ITEM FOUR, QUARTERLY INVESTMENT REPORT. 
          MARK, WELCOME. 
          GOOD EVENING, COUNCIL MAYOR. 
          UH, MY NAME'S MARK WHITAKER. 
          I'M HERE TO PRESENT THE QUARTERLY INVESTMENT REPORT FOR THE YEAR END, UH, SEPTEMBER 30TH, 2023. 
          I'M GONNA START WITH A QUICK ECONOMIC UPDATE, UH, AND MARKET UPDATE. 
          AND THAT'S GOING TO BE SLIGHTLY NEWER. 
          UH, THOSE REPORTS ARE GONNA COME FROM OCTOBER THROUGH DECEMBER. 
          UH, START WITH INFLATION. 
          UH, THERE WAS VIRTUALLY NO CHANGE IN NOVEMBER, NO CHANGE IN OCTOBER. 
          IT HAS REMAINED STEADY AT 3.1%, UM, WHICH IS WHAT THE FEDERAL FUNDS IS TRYING TO, UH, MINIMIZE. 
          BUT STEADY IS BETTER THAN INCREASING. 
          UH, THE GDP ROSE 2.1%, UH, IN THE SECOND QUARTER, UM, FOR A 4.9% TOTAL ANNUAL INCREASE. 
          SO WE'RE STILL SEEING STEADY GROWTH. 
          UM, AND THEY WERE TRYING TO, UH, ACHIEVE A SOFT LANDING WITH ALL OF THEIR, UH, MARKET CHANGES. 
          UM, ALL THOSE RATE INCREASES. 
          UM, MOVING ON TO THE LABOR, THAT ALSO WAS UNCHANGED, UH, IN DECEMBER, AND THAT REMAINS AT 3.7%. 
          UM, SO, UH, UNEMPLOYMENT RATE IS STILL IN AN APPROPRIATE LEVEL. 
          GOING ON TO THE MARKET UPDATE, UH, THE TWO YEAR TREASURY IS OUR BENCHMARK, UH, THAT INCREASED EACH MONTH OF THE QUARTER FROM 4.6 UP TO 5.3%. 
          UH, OUR YIELD FOR THE PORTFOLIO WAS A 2.84%, UH, TOTAL RETURN. 
          AND YOU'LL SEE AT THE BOTTOM THEY MADE NO CHANGES, UH, TO THE INTEREST RATES, UH, THE ENTIRE QUARTER. 
          AND THEN MOVING FORWARD FOR SEPTEMBER, NOVEMBER, AND DECEMBER, UH, THAT WAS A CHANGE 'CAUSE THERE WAS AN EXPECTED INCREASE IN DECEMBER. 
          UM, BUT DUE TO THE MARKET DATA, THEY DECIDED NOT TO MEET INCREASE RATES IN DECEMBER AND INSTEAD TO HOLD IT FLAT. 
          UM, THAT CHAIN DID DROP INTEREST RATES IN DECEMBER. 
          UM, AND WE'LL TALK ABOUT THAT A LITTLE BIT MOVING FORWARD. 
          UH, THIS WAS A COPY OF THEIR RELEASE JUST MENTIONING THAT THEY ARE LOOKING AT MARKET CONDITIONS AND MAKING ADJUSTMENTS BASED ON WHAT THEY SEE. 
          UM, WITH INFLATION STAYING STILL UNEMPLOYMENT STAYING STILL, THEY'RE HOLDING THAT MARKET RATE AT FIVE AND 0.5%. 
          UH, CURRENTLY AFTER THE YEAR, THE SIX MONTH, TWO YEAR, AND 10 YEAR TREASURY, UH, YOU'LL SEE THE CONSTANT INCREASES WITH THE HISTORIC INCREASE RATES THAT WE'VE SEEN. 
          BUT THEY ARE STARTING TO FLATTEN OFF. 
          UH, THE TREASURY YIELD CURVE REMAINS, UH, INVERTED, UH, THROUGH THESE TIMES NOW THAT THEY HAVE DECIDED TO BEGIN CUTTING RATES IN 2024, YOU WILL SEE THAT YIELD CURVE, UH, START TO CHANGE TO A MORE TRADITIONAL YIELD CURVE, UH, WHERE SHORT-TERM RATES ARE LOWER THAN LONG-TERM. 
          UH, BUT WE STILL REMAIN IN AN INVERTED YIELD CURVE ENVIRONMENT AT THIS MOMENT, UH, S AND P 500 BECAUSE THE FEDERAL RESERVE WAS ABLE TO, UH, ACHIEVE THAT SOFT LANDING WITH THE ECONOMY. 
          UH, THE MARKET HAS ACTUALLY CONTINUED TO MAINTAIN, UM, AND HAS ACTUALLY RALLIED, UH, SINCE THAT, UH, DECEMBER 13TH MEETING, UM, AND HAS INCREASED TO ABOUT 4,700, UH, VALUE FOR THE S AND P 500 INDEX. 
          MOVING ON TO PORTS OR PARTS OF OUR INVESTMENTS, UM, DURING THE QUARTER WE HAD, UH, ROUGHLY 80, JUST OVER $80 MILLION MATURE AND OR GET CALLED. 
          UM, AND THEN WE REINVESTED ALMOST $18 MILLION OF THAT. 
          UM, THE DIFFERENCE IN THAT IS MAINLY BECAUSE OF OUR NINE ONE IN, UH, DEBT SERVICE PAYMENT OF $43 MILLION, UH, TAKES UP A LARGE PORTION OF WHAT WAS TIED TO THOSE MATURITIES, BUT WE DID REINVEST WHAT WE COULD. 
          UH, THIS SHOWS OUR MATURITY LADDER. 
          UM, WE OPERATE ON A, UH, NON CALLABLE INVESTMENT BASIS TO TRY TO MAINTAIN A CONSISTENT LADDER THAT GIVES US A HIGHER AVERAGE RETURN OVER TIMES NO MATTER WHAT THE MARKET CONDITIONS ARE, WHETHER THAT'S RAISING RATES OR DECREASING RATES. 
          UM, AND YOU'LL SEE, UH, THE 48% IN THAT SHORT TERM THAT INCLUDES 20% OF ACTUAL LIQUIDITY, AND THEN ANOTHER 20%, 28% OF MATURITIES, LONG-TERM MATURITIES THAT ARE ABOUT TO MATURE. 
          THAT CAN BE REINVESTED. 
          UM, AND WE WILL BE TARGETING THE FIVE-YEAR, UM, AREA TO TRY TO LOCK IN ANY OF THE RATES THAT WE CAN BEFORE THEY DECLINE ANY FURTHER. 
          [00:25:04]
UH, MOVING ON TO THE PERFORMANCE, UH, YOU WILL SEE PLANO PORTFOLIO YIELD, LIKE I MENTIONED, WAS 2.84%. 
          THAT'S AN INCREASE OF ABOUT 16 BASIS POINTS OFF LAST QUARTER, UH, 2.71%. 
          UM, AND IT WAS ABOUT 1.8399999999999999% AT YEAR END LAST YEAR. 
          UH, SO WE ARE CONTINUING TO SEE INCREASES, UM, GRADUAL INCREASES, BUT THAT IS THE, UH, PHILOSOPHY OF THE PORTFOLIO. 
          AND THAT DOES, LIKE I MENTIONED, GIVE US THE LONG, THE BEST YIELD OVER TIME. 
          AND YOU'LL SEE WE EARNED 5 MILLION, ALMOST 5.1 MILLION IN INTEREST THIS QUARTER FOR A TOTAL OF 17.5 MILLION TOTAL INTEREST REVENUE FOR THE YEAR. 
          AGAIN, THIS IS JUST GRAPHICAL FORM OF OUR TWO YEAR BENCHMARK, UH, IN GREEN. 
          AND THEN OUR BLUE IS THE PORTFOLIO YIELD. 
          AND AS YOU CAN SEE, THE GRADUAL INCREASES, UM, WHILE RATES ARE GOING UP, UH, OF THE PORTFOLIO. 
          AND YOU CAN EXPECT FOR OUR PORTFOLIO YIELD TO INCREASE. 
          UM, WHILE WE REINVEST THOSE, UH, MATURING, UH, INVESTMENTS, UM, THAT ARE DROPPING OFF THE PORTFOLIO THAT HAVE LOWER INTEREST. 
          UH, HERE'S A MAKEUP OF THE PORTFOLIO. 
          UH, WE ARE HEAVY IN THE MUNI MARKET 'CAUSE THAT IS WHERE THE HIGHEST YIELDS HAVE BEEN RECENTLY OVER THE LAST YEAR OR TWO. 
          UM, OUR PORTFOLIO ALLOWS US TO GO UP TO 50% MAXIMUM. 
          WE'VE MAINTAINED CLOSE TO THE 40 TO 45 TO MAXIMIZE THAT AREA. 
          UH, WHILE US AGENCIES IS AROUND 35%, UH, CDS AND US TREASURIES ARE, UH, VERY LOW, UH, SPREAD. 
          SO WE, UH, ARE LIGHTLY INVESTED IN THOSE AREAS. 
          THIS SHOWS OUR BOOK VALUES AT THE END OF EVERY QUARTER. 
          UH, IT'S VERY CYCLICAL. 
          UH, YOU WILL SEE A DROP OFF THERE IN SEPTEMBER AS WE HAVE A DRAW DOWN, BUT THAT IS ANTICIPATED AND, UH, GOES ALONG. 
          YOU STILL SEE THE TREND OF A UPWARD LINE EVERY YEAR, UM, AS WE ARE VERY CONSISTENT IN HOW THE CITY MANAGES ITS FUNDS. 
          JUST A SUMMARY OF EVERYTHING IN, IN HOW IT'S BROKEN OUT, UH, BETWEEN QUARTERS. 
          UM, AND HERE YOU WILL SEE THAT DROP IN BOOK VALUE. 
          UM, BUT AGAIN, IT'S CYCLICAL, UM, AND EXPECTED IT STILL HAS AN INCREASE OVER YEAR END, UH, LAST YEAR. 
          AND SO WE'RE HAPPY WITH THOSE RESULTS IN THIS TR GRAPHICAL FORM OF THE EQUITY IN THE TREASURY POOL. 
          UM, AGAIN, CONSISTENCY IS KEY. 
          UM, AND THE CITY HAS DONE THAT VERY WELL. 
          THERE'S NO CHANGES TO OUR INVESTMENT POLICY, UH, AS OF AT THIS MOMENT. 
          UM, WE DO CONTINUALLY TO LOOK AT IT JUST IN CASE THERE ARE CHANGES THAT NEED TO BE MADE AS THIS TIME. 
          THERE'S NO CHANGES TO THE POLICY FOR QUESTIONS. 
          OKAY, THANKS MARK. 
          ANY QUESTIONS, UH, FOR MARK ON THE REPORT? WELL DONE. 
          APPRECIATE IT. 
          THANK YOU. 
          ALRIGHT, NEXT ITEM IS, UH, CONSENT AND REGULAR AGENDAS. 
          UH, ANY ITEMS, UH, A COUNCIL MEMBER WOULD LIKE TO REMOVE? UH, MAYOR, I'D LIKE TO REMOVE ITEM I, THE ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT. 
          OKAY, THANK YOU. 
          ALRIGHT, UH, NEXT ITEM, UH, COUNCIL ITEMS FOR DISCUSSION ON FUTURE AGENDAS. 
          YEAH, UH, FITTINGLY ON A FUTURE AGENDA, I WOULD LIKE TO, UH, HAVE A BRIEF DISCUSSION ABOUT THE ITEM WE RECENTLY PASSED ABOUT, UH, GETTING NEW ITEMS ON A FUTURE AGENDA. 
          , THERE'S JUST A COUPLE OF OBSERVATIONS I HAD AFTER THE FACT THAT I'D LIKE TO DISCUSS WITH COUNCIL. 
          I'M NOT UNDERSTANDING , WE, WE RECENTLY PASSED, UH, AN UPDATE, A RESOLUTION ABOUT HOW WE PUT FUTURE ITEMS ON THE AGENDA. 
          UM, THAT'S RIGHT. 
          WELL, IT'S ALWAYS BEEN KIND OF TWO PEOPLE, BUT, UH, IF, UM, IF A REQUEST ENTAILED SIGNIFICANT STAFF TIME, UM, WHICH WAS KIND OF ILL-DEFINED IN THE RESOLUTION, I'D LIKE TO, UM, PUT SOME, UH, GUIDELINES TO THAT. 
          AND ALSO AS IT PERTAINED TO BOARDS AND COMMISSIONS, UM, THERE WAS THE FURTHER STEP, AND I OVERLOOKED THIS WHEN RATING THE RESOLUTION, THERE WAS THE FURTHER STEP THAT IF A BOARD AND COMMISSION WANTED TO PUT SOMETHING ON THE BOARD AND COMMISSION AGENDA, COUNCIL WOULD THEN HAVE TO APPROVE IT TO GO, GO ON THE BOARD AND COMMISSION AGENDA. 
          AND I THINK THERE SHOULD BE PROBABLY BE A THRESHOLD FOR WHICH BOARDS AND COMMISSIONS CAN GET SOMETHING ON THEIR OWN AGENDA WITHOUT COUNCIL APPROVAL, ESPECIALLY IF IT REQUIRES A TIMELY TURNAROUND. 
          SO, COUNCILMAN, I I THINK ONE OF THE, ONE OF THE THINGS ON THE, THE BOARD AND COMMISSION SIDE OF THINGS IS SIMILAR TO THE, TO THE TWO PERSON 
          [00:30:01]
TWO HOUR SORT OF INVESTMENT VERSUS THE, THE MORE SIGNIFICANT SIDE OF THINGS. 
          UM, THE CHALLENGE BECOMES, UH, EXTENSIVE AGENDAS THAT MAY OR MAY NOT NECESSARILY ALIGN WITH THE COUNCIL AGENDA. 
          AND SO THE ISSUE THAT WE'RE FACING IS RESOURCE CONSTRAINT. 
          SO IF WE'RE GOING TO CONTINUE TO, TO HAVE, UM, REQUESTS, UH, THAT, THAT DON'T ALIGN NECESSARILY WITH THE COUNCIL STRATEGIC VISION, THEN UH, WE'RE GOING TO RUN INTO, UH, A CHALLENGE THAT SAYS, UM, BOARDS AND COMMISSIONS WORK AT THE APPOINTMENT OF THE CITY COUNCIL. 
          THE STAFF, HOWEVER, WORK THROUGH THE CITY MANAGER AND THE STAFF ARE, ARE NOT ASSIGNED TO TAKE, UH, RESOURCES AND APPLY THEM AS THEY WISH OUTSIDE OF THE COUNCIL. 
          STRATEGIC GOALS, YOUR STRATEGIC GOALS AND YOUR BUDGET BOTH ADOPTED OUTLINE THE STRATEGIC PATH FOR THE CITY COUNCIL. 
          SO I THINK WE HAVE TO BE CAREFUL AND I, I PERF I'M ABSOLUTELY FINE WITH CLARIFYING MM-HMM,  AND GETTING CLARITY TO THIS, BUT, UH, BOARDS AND COMMISSIONS WORK WITHIN THAT BUDGET THAT YOU PASS. 
          THEY WORK WITHIN THAT, UH, STRATEGIC FRAMEWORK THAT YOU PASS. 
          UM, AND THAT'S, UH, THAT'S A CRITICAL COMPONENT TO THIS BECAUSE IF, IF WE END UP WITH A, A POLICY THAT GOES BEYOND THAT, I THINK WE NEED TO REVISIT, UM, RESOURCES TO MAKE SURE THAT THEY HAVE WHAT THEY NEED, UM, BECAUSE IT'S GOING TO END UP BEING, UH, A CHALLENGE FOR US, UH, TO BE ABLE TO ACHIEVE THE COUNCIL GOALS. 
          AGREED. 
          AND WHAT I HAD IN MIND WAS CREATING, UH, DEFINING A THRESHOLD BY WHICH BOARDS AND COMMISSIONS COULD PUT SOMETHING ON THEIR OWN AGENDA WITHOUT COUNCIL APPROVAL. 
          OBVIOUSLY, IF IT'S GOING TO ENTAIL SIGNIFICANT RESOURCES OR THERE'S A, A FEELING THAT IT'S JUST CONTRARY TO COUNCIL'S, UH, GOALS, THEN THAT'D BE A DIFFERENT MATTER. 
          SO WHY DON'T, UH, IF, IF COUNCIL'S COMFORTABLE WITH THIS, UH, I'D BE HAPPY TO WORK WITH, UM, COUNCILMAN WILLIAMS TO SEE IF WE COULD WORK ON SOME CLARIFYING LANGUAGE TO BRING BACK THE COUNCIL TO, TO LOOK AT IF THAT'S, UH, IF THAT'S COUNCIL'S DESIRE TO SEE IF WE CAN WORK THROUGH SOME CLARIFICATION ON THAT. 
          BUT I THOUGHT THE RESOLUTION SAID THAT WE WEREN'T BRINGING THINGS BACK AFTER WE HAD, ISN'T THAT WHAT THE RESOLUTION SAYS? IT SAYS WE'RE NOT BRINGING IT BACK AFTER FOR SIX MONTHS. 
          IT DOES SAY FOR SIX MONTHS. 
          YEAH. 
          SO, AND I'M FINE WITH WAITING FOR SIX MONTHS FOR IF YOU WANTED TO YEAH, SHELBY FOR, UH, RE RECONSIDERATION, THAT'S WHAT IT SPECIFIED THAT THOUGHT. 
          LIKE IF WE DISCUSSED SOMETHING AND IT WAS DECIDED, THEN WE WOULDN'T BRING IT BACK FOR RECONSIDERATION. 
          BUT THIS IS WELL, BUT I THOUGHT THAT WAS THE WHOLE POINT SO THAT WE DON'T JUST KEEP, LIKE COMING BACK, MODIFY, WE MAKE A DECISION AND WE GO, WE DON'T JUST KEEP COMING BACK OVER AND OVER AGAIN. 
          SO THAT'S, WELL THE MAIN THING I'M LOOKING AT THIS RESOLUTION FOR IS CLARIFICATION. 
          A LITTLE BIT BETTER DEFINITION IS I I I, I MEAN I'M NOT LOOKING AT IT. 
          SO IS, IS THAT SOMETHING THAT IS NEEDED? CAN WE JUST MAKE IT INTO LIKE A POLICY STATEMENT RATHER THAN CHANGING THE ENTIRE RESOLUTION? HOW, HOW ABOUT I WORK WITH MARK ON THIS AND THEN THAT'S FINE BECAUSE I'M NOT LOOKING AT CHANGING THE ENTIRE RESOLUTION. 
          OKAY. 
          WE'LL, WE'LL, WE'LL LET THAT, UH, LET YOU TWO WORK ON THAT AND THEN WE'LL WE'LL HEAR BACK FROM YOU. 
          SOUNDS GOOD. 
          SO IT'S SEEKING CLARIFICATION ONLY, ONLY CORRECT. 
          GOT IT. 
          THANK, IS EVERYBODY OKAY WITH THAT? OKAY. 
          ALRIGHT, WE'LL TAKE A RECESS AND RETURN, UH, AT SEVEN O'CLOCK. 
          .
* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.