[2026-048 Citizens to be heard - The Midlothian Community Development Corporation invites citizens to address the Board on any topic not already scheduled for a Public Hearing. Citizens wishing to speak should complete a “Citizen Participation Form” and present it to the Administrative Assistant prior to the item being opened for discussion. Speakers are limited to 3 minutes. In accordance with the Texas Open Meetings Act, the Board cannot act on items not listed on the agenda. However, your concerns may be addressed by City Staff, placed on a future agenda, or responded to by some other course]

WE HAVE ACCURATE MEETING MINUTES.

SO WITH THE NEXT UP, WE'RE GOING TO OPEN UP ITEM 2026-O48.

THE MIDLOTHIAN COMMUNITY DEVELOPMENT CORPORATION INVITES CITIZENS TO ACCURACY THE BOARD ON ANY TOPIC NOT ALREADY SCHEDULED FOR A PUBLIC HEARING. CITIZENS WISHING TO SPEAK SHOULD COMPLETE A CITIZEN PARTICIPATION FORM AND PRESENT IT PRIOR TO THE ITEM BEING OPENED FOR DISCUSSION.

SPEAK REMEMBERS LIMITED TO THREE MINUTES.

IN ACCORDANCE WITH THE TEXAS OPEN MEETINGS ACT, THE BOARD CANNOT ACT ON SUCH ITEMS NOT LISTED ON THE AGENDA.

YOUR CONCERNS MAY BE ADDRESSED BY A CITY STAFF PLACED ON A FUTURE AGENDA. ANY FOLKS SIGNED UP TO SPEAK

TONIGHT? >> I BELIEVE WE DO.

>> IF YOU'LL PLEASE COME UP AND JUST STATE YOUR NAME AND YOUR RESIDENCE, YOUR PLACE OF RESIDENCE.

>> MY ASSOCIATE WITH THE INDIAN TRAIL CHAPTER OF THE TEXAS NATURALIST. YOU GENEROUSLY GAVE US SOME MONEY LAST YEAR FOR MADELINE'S CODES TO BE DISPLAYED AT A NATURE PARK TO ASSIST VISUALLY IMPAIRED AND EVERYBODY ELSE ENJOYING THE MOCKING BIRD NATURE PARK THROUGH A NATURE WALK.

SO WE'RE HERE TO GIVE YOU AN UPDATE.

TANIS IS GOING TO PASS AROUND THE ANALYTICS THAT WERE PROVIDED BY THE CORPORATION. THEY'RE FROM THE START LAST YEAR WHICH WAS IN JUNE UP UNTIL LAST WEEK.

SINCE WE STARTED THIS PROJECT, OUR TEAM OF TWO HAS EXPANDED INTO FOUR PEOPLE. WE HAVE GIVEN A PRESENTATION IN NOVEMBER TO THE AMERICAN FEDERATION FOR THE BLIND, THE ARLINGTON CHAPTER. THEY WERE HOPING TO COME OUT TO THE PARK AND GIVE US A LITTLE BIT MORE FEEDBACK ON OUR SIGNAGE. WE HAVE ALSO HAD A SPECIAL GROUP OF AMERICAN HERITAGE SCOUTS, FOURTEEN GIRLS AGED FIVE TO TWELVE THIS PAST OCTOBER. AND WE INTRODUCED THIS TO THEM AT THAT TIME. WE ADVERTISED THE SYSTEM AT THE FARMERS' MARKET. AND UPCOMING, THERE'S GOING TO BE A DEDICATION TO THE HIGH SCHOOL WATER GARDEN AND WE'RE GOVERNING GOING TO HAVE A HAND-OUT AND WE MADE A FEW CHANGES TO OUR SIGNAGE IF ANY OF YOU HAVE BEEN OUT THERE.

WE'VE GOTTEN AWAY FROM PAPER AND LAMINATE AND GONE TO A PLASTICISED PAPER. IF YOU LOOK AT THE ANALYTICS, YOU'LL NOTICE ENGLISH IS THE MAJOR LANGUAGE, BUT WE HAVE PEOPLE SPEAKING GERMAN, SPANISH AND JAPANESE UTILIZE THE SYSTEM.

WHICH IS REALLY KIND OF NEAT. WE HAVE FIVE SET SIGNS, ONE SAYS WELCOME TO MOCKINGBIRD PARK. ONE ACKNOWLEDGES YOUR CONTRIBUTION. ONE IS THANKS FOR VISITING, HOW TO USE THE PARK AND SUCH. AND YOU'LL NOTICE THAT SARAH'S

[00:05:03]

GARDEN GETS THE MOST HITS. AND THEN THANKS FOR VISITING DOES. UNFORTUNATELY, PEOPLE DON'T REALLY READ IT AND LEAVE US ANY FEEDBACK, AT LEAST NOT THAT WE KNOW OF. YOU CAN GO THROUGH THE SIGNAGE.

SOME ARE STATIC. FOR MOST WE CHANGE IT.

WE TRY AND CHECK WEEKLY OR BIWEEKLY TO MAKE SURE THE SIGNS ARE NEXT TO BLOOMING PLANTS OR SOMETHING INTERESTING IN THE PARK. AND HAVING FOUR OF US OUT THERE HELPS A LOT. WE HAVE MAPPED OUT OUR SIGNAGE AND WE'RE WORKING WITH HEATHER. SHE'S GOTTEN US SOME METAL SIGNS IN CASE WE NEED TO SWITCH UP THE PLASTIC SIGNAGE, THE DISPLAY STAKES. SO FAR IT SEEMS TO BE WORKING REALLY WELL. WE ENGAGED A LOT OF PEOPLE YESTERDAY FOR LETTING THEM KNOW ABOUT THE PARK AND A FEW ABOUT THE SIGNAGE OUT THERE AT THE PARK YESTERDAY AT EARTH DAY.

>> THAT'S AWESOME. THANK YOU ALL FOR THAT GREAT REPORT. WE APPRECIATE THE INTRO, MASTER NATURALIST. YOU GUYS DO A LOT FOR THE REGION. I LOVE HEARING THE SUCCESSES WE FUNDED PREVIOUSLY. THANK YOU ALL.

>> THANK YOU SO MUCH. OPENING UP 2026049, RECEIVE OUR CITY COUNCIL LIAISON REPORT. I DON'T SEE HER HERE SO WE'LL ON

[2026-050 Consider and act upon minutes from the Midlothian Community Development Corporation meeting on March 26, 2026]

TO 2026050, CONSIDERING ACTS OF MINUTES FROM THE MIDLOTHIAN COMMUNITY DEVELOPMENT CORPORATION MEETING ON MARCH 26TH. IT IS IN YOUR PACKET AND YOU GUYS SHOULD HAVE HAD A CHANCE TO REVIEW THAT PRIOR AS WELL.

IF ANYONE WOULD LIKE TO MAKE ANY APPROPRIATE MOTIONS.

>> MOTION TO APPROVE. >> WE GOT A FIRST.

>> SECOND. >> WE HAVE A FIRST AND SECOND.

ANY DISCUSSION? ALL IN FAVOR, PLEASE SAY AYE.

ANY OPPOSED. MOTION CARRIES.

NEXT UP, WE'RE ACTUALLY GOING TO MOVE INTO OUR PROMOTIONAL GRANT APPLICATION REQUEST AND A FRIENDLY REMINDER ABOUT OUR PROCESS. WE'LL GET INTO THEM INDIVIDUALLY. ALL THOSE APPLICANTS CAME IN OUR MARCH MEETING AND AGAIN WE HEARD THE PRESENTATIONS.

SINCE THAT TIME OUR SUBCOMMITTEE DID MEET TO DISCUSS THE ALIGNMENTS WITH GOALS AND OBJECTIVES, WHAT BUDGETS WAS REMAINING AND THAT KIND OF FUN STUFF.

SO WHAT'S GOING TO HAPPEN IS PASTOR MAC WILL REVIEW THOSE.

THOSE ARE JUST RECOMMENDATIONS. THIS BOARD STILL HAS TO MAKE A MOTION ON THOSE, EITHER WE COULD DO THE AMOUNT THAT'S BEING RECOMMITTED OR CHANGE IT WHATEVER IT MIGHT LOOK LIKE.

AT THIS POINT, I'M GOING TURN IT OVER TO MAC TO GIVE AN

[2026-051 Consider and act upon a grant request received from Paws for Reflection for $4,000.00 for promotional funding pursuant to Section 505.103 of the Texas Local Government Code, for costs related to Renaissance at the Ranch on May 30, 2026, and May 31, 2026, located at 5431 Montgomery Rd., Midlothian, TX 76065.]

UPDATE. FIRST ONE WE HAVE IS 2026-05, CONSIDER AND ACT UPON A GRANT REQUEST RECEIVED FOR PAWS FOR REFLECTION FOR $4,000 FOR PROMOTIONAL FUNDING PURSUANT TO THE SECTION 550-103 OF THE TEXAS LOCAL GOVERNMENT CODE.

>> QUESTIONS REGARDING THAT? DOES ANYONE HAVE ANY QUESTIONS? THEY ASKED FOR -- WE ARE SET TO GIVE THEM 4,000.

SO ACCORDING TO SECTION 505-103, WE CAN AFFORD THAT.

ALL IN FAVOR OF MAKING THAT INTO ACTION CAN HAVE THE MOTION.

>> RECOMMENDATION OF THE FULL AMOUNT.

>> I WOULD LIKE TO MAKE A MOTION TO APPROVE.

>> MOTION. >> THANK YOU.

>> SECOND. >> WE HAVE A MOTION AND SECOND.

ANY DISCUSSION? ALL IN FAVOR OF APPROVING $4,000 TO PAWS FOR REFLECTION RANCH, PLEASE SAY AYE.

OPPOSED? NEXT UP WE WILL OPEN UP

[2026-052 Consider and act upon a grant request received from Midlothian Downtown Business Association for $50,000.00, for promotional funding pursuant to Section 505.103 of the Texas Local Government Code, for costs related to 2026 Heritage Day on October 31, 2026, located in Downtown Midlothian.]

2026-052, CONSIDER AND ACT UPON A GRANT REQUEST RECEIVED FROM MIDLOTHIAN DOWNTOWN BUSINESS ASSOCIATION FOR $50Z,000 FOR PROMOTIONAL FUNDING PURSUANT TO SECTION 505,103 OF THE TEXAS LOCAL GOVERNMENT CODE FOR THE COSTS RELATED TO THE 2026 HERT AM DAY ON OCTOBER 31ST, HALLOWEEN, LOCATED IN DOWNTOWN MIDLOTHIAN. PASTOR MAC.

>> REVIEWING THE BUDGET, WE CAN SUBSTANTIATE 50,000 AND KEEP A LOAN LINE WITH ALL THE THINGS WE HAVE ON OUR AGENDA, THINGS THAT WE ARE GIVING MONEY TO AND PREPARE TO GIVE MONEY TO IN THE FUTURE. ANYONE HAVE ANY QUESTIONS ABOUT IT? ALL IN FAVOR FOR GIVING THE

CONSIDERED AMOUNT? >> ANYBODY HAVE ANY DISCUSSIONS ALONG THAT PIECE? WE HAVE A RECOMMENDATION FOR 50,000 DOLLARS FROM THE SUBCOMMITTEE.

SO ALL IN FAVOR? WE HAVE TO HAVE A MOTION, I'M SORRY. ANYONE HAVE A MOTION ON THAT?

>> I MAKE A MOTION TO APPROVE. >> SECOND? OKAY. ALL IN FAVOR OF THAT, PLEASE SAY AYE? ANY OPPOSED?

[2026-053 Consider and act upon a grant request received from Manna House for $65,000.00 for promotional funding pursuant to Section 505.103 of the Texas Local Government Code, for costs related to the Mayor’s Back to School Block Party on August 1, 2026, located in Downtown Midlothian.]

MOTION CARRIES. NEXT UP WE HAVE 2026-503, CONSIDER AND ACT UPON A GRANT REQUEST RECEIVED FROM MANNA

[00:10:02]

HOUSE FOR $65,000 FOR PROMOTIONAL FUNDING PURSUANT TO SECTION 550,103 OF THE TEXAS LOCAL GOVERNMENT CODE FOR COSTS RELATED TO THE MAYOR'S BACK TO SCHOOL BLOCK PARTY ON AUGUST 1ST, 2026, LOCATED IN DOWNTOWN MIDLOTHIAN.

I AM GOING TO RECUSE MYSELF. I DO SERVE ON MANNA HOUSE'S

BOARD AND YOU WILL TAKE OVER. >> THANK YOU, SIR.

WE DID HAVE A CONVERSATION. ANYONE HAVE ANY QUESTION ABOUT THEIR ASK OF 65,000? ANY QUESTIONS? LET ME HAVE A MOTION AND A SECONDER WILL MOVE PAST TO MAKE THE MOTION OF GIVING GRANTING THEM THE WHOLE OF 65,000.

SO THE RECOMMENDS FROM SUBCOMMITTEE WAS FOR 50,000 AND NOT THE WHOLE 65. SO ANYONE HAVE ANY QUESTIONS ABOUT THAT? ALL RIGHT.

NOW WE ARE STANDING TO TAKE A MOTION TO GO AHEAD AND GIVE THEM

THE 50,000 FOR THE MANNA HOUSE. >> MOTION TO APPROVE THE 50,000

DOLLAR GRANT IS PRESENTED. >> THANK YOU, SIR.

THANK YOU, MA'AM. IT'S BEEN MOVED AND PROPERLY SECONDED. ALL IN FAVOR? SIGN OF AYE. NAY, SAME SIGN.

THANK YOU. >> I MISSED THE SECOND ON THAT.

>> I'M GOING TO GO WITH THIS. >> OKAY.

[2026-054 Consider and act upon a grant request received from City of Midlothian Parks Department for $53,000.00 for promotional funding pursuant to Section 505.103 of the Texas Local Government Code, for costs related to the Midlothian Kids Fishing Derby on May 30, 2026, Parktopia on July 17, 2026, Texas Arbor Day Celebration on November 7, 2026, located at Midlothian Community Park, 3601 S 14th St., Midlothian TX 76065, Midlothian Independence Day Fireworks on July 4, 2026, located at Midlothian Independent School District Multi-Purpose Stadium, 1800 S 14th St., Midlothian, TX 76065, and Veterans Tribute Dinner on November 11, 2026, located at Midlothian Conference Center, 1 Community Dr., Midlothian, TX 76065.]

ALL RIGHT. OPENING UP NOW 2026-054 CONSIDER AND ACT UPON A GRANT REQUEST RECEIVED FROM THE CITY OF MIDLOTHIAN PARKS DEPARTMENT FOR 53,000 FOR PROMOTIONAL FUNDING PURSUANT TO SECTION 550 OF THE TEXAS LOCAL GOVERNMENT CODE.

SEVERAL EVENTS HERE, FOR COSTS RELATED TO MIDLOTHIAN KIDS FISHING DERBY ON MAY 30TH, 2026, PARKTOPIA ON JULY 17TH, 2026, TEXAS ARBOR DAY CELEBRATION, ON NOVEMBER 7TH, 2026, LOCATED AT THE MIDLOTHIAN COMMUNITY PARK, THEN WE HAVE MIDLOTHIAN INDEPENDENCE DAY FIREWORKS ON JULY 4TH.

THAT'S AT THE MULTIPURPOSE STADIUM.

AND THEN LAST ONE OUT OF THIS GROUPING IS THE VETERANS' TRIBUTE DINNER ON NOVEMBER 11TH AT THE CONFERENCE CENTER.

IF YOU WOULD LIKE TO GIVE THE REPORT FROM THE SUBCOMMITTEE.

>> SO IN OUR SUBCOMMITTEE MEETING WE WERE LOOKING AT THE BUDGET AND WE'RE SUGGESTING THAT WE GIVE 50,000 TO THE PARKS AND REC FOR WHAT THEY'RE DOING FOR THESE EVENTS.

ANY CONVERSATION NEEDED? >> AGAIN THAT'S THE RECOMMENDATION A LITTLE BIT LOWER BUT 50,000 VERSUS THE 53.

SHOULD GIVE THEM PLENTY OF TIME. FOR SPONSORSHIPS.

ANYONE LIKE TO MAKE A MOTION? ANY DISCUSSION? WE HAVE A MOTION. SECOND.

SECOND BY KEVIN. WE HAVE A MOTION SECOND.

ALL IN FAVOR PLEASE SAY AYE. MOVING OPT 2026-055.

[2026-055 Consider and act upon a grant request received from City of Midlothian Communications and Marketing department for $20,000.00 for promotional funding pursuant to Section 505.103 of the Texas Local Government Code, for costs related to the Midlothian World Soccer Festival and Watch Party on June 12, 2026, located at Midlothian Community Park, 3601 S. 14th St., Midlothian, TX 76065.]

CONSIDER AND ACT UPON A GRANT REQUEST RECEIVED FROM THE CITY OF MIDLOTHIAN COMMUNICATIONS AND MARKETING DEPARTMENT FOR $20,000 FOR PROMOTIONAL FUNDING PURSUANT TO 505 OF THE TEXAS LOCAL GOVERNMENT CODE FOR COSTS RELATED TO THE MIDLOTHIAN WORLD SOCCER FESTIVAL AND WATCH PARTY. THAT WILL BE ON JUNE 1ST AND THAT IS LOCATED AT THE MIDLOTHIAN COMMUNITY PARK.

THAT IS A NEW EVENT, ONE-TIME EVENT THAT IS GOING TO BE CENTERED AROUND OBVIOUSLY THE FIFA WORLD CUP AND THE

EXCITEMENT COMING TO THE REGION. >> SUBCOMMITTEE REPORT, THEY ASKED FOR 20. WE RECOMMEND WE GIVE THEM THE 20,000. ANY QUESTIONS OR DISCUSSIONS?

>> WE WOULD LIKE TO MAKE A MOTION ON THAT?

>> I MAKE THE MOTION WE GIVE THE 20,000 TO COMMUNICATIONS.

FOR THE FIFA. >> I'LL SECOND THAT.

[00:15:02]

WE HAVE A MOTION AND A SECOND. ALL IN FAVOR, PLEASE SAY AYE.

ANY OPPOSED, SAME SIGN. MOTION CARRIES.

[2026-056 Receive presentation of Midlothian Senior Center Kitchen Manager funding]

NOW LET'S SEE, WE HAVE 2026-056, RECEIVE PRESENTATION FROM THE MIDLOTHIAN SENIOR CENTER KITCHEN MANAGER FUNDING.

SOMEONE FROM THE MIDLOTHIAN SENIOR CENTER HERE? DO YOU HAVE ANY REPORT THAT NEEDS TO BE -- YOU'VE GOT IT ALL. HEATHER'S GOING TO BE PRESENTING. I'VE GOT TWO OF THEM HERE.

>> SO JUST TO TALK TO YOU ALL ABOUT -- I KNOW WE HAVE A LOT OF NEW MEMBERS WHO HAVEN'T BEEN AROUND AS THIS HAS CARRIED ON.

THIS IS BEFORE EVEN MY TIME PRETTY MUCH HERE AND WORKING WITH THE SENIORS CENTER. BUT WE'VE GOT SOME INFO, SO YOU CAN SEE IN 2019/2020, THEY REQUESTED 20,000 -- THE SENIOR CENTER REQUESTED 60,000 DOLLARS TO ASSIST WITH DAILY OPERATIONS AND THEN YOU CAN SEE IN 2021, THEY CAME BACK TO ADD ANOTHER 42,000 TO THAT 60 TO HELP RUN THE KITCHEN WITH A KITCHEN MANAGER POSITION. AND SO THIS PERSON'S ACTUALLY IN COOKING MEALS FOR THE SENIORS EVERY DAY.

THEY SERVE LUNCH EVERY DAY. SO THEY'RE IN THERE PLANNING THE MEALS AND COOKING THE MEALS AND SO YOU CAN SEE THIS 102,000 CARRIES ON UP INTO THIS YEAR AND JUST TO SHOW YOU SOME OTHER INFORMATION ABOUT THE SENIORS CENTER, YOU CAN SEE THE BLOCKS THAT ARE DOWN THERE IN THE GRAPH ARE DAILY ATTENDANCE FOR ACTIVITIES AT THE CENTER, AND THEN THE BLUE LINE CARRIES UP TO THE RIGHT SHOWING YOU HOW MANY MEMBERS THEY THINK THEY'RE GOING TO HAVE, SO IN 2021, THEY HAD 330.

THIS YEAR, THEY'RE PROJECTING WE'RE GOING TO BE UP TO 500 MEMBERS. IT'S VERY BUSY OVER THERE.

WE'RE UP TO ALMOST A HUNDRED PEOPLE A DAY THAT THEY'RE SERVING LUNCH AND THAT ARE COMING FOR ACTIVITIES.

SO THE CENTER IS BUSTLING OVER THERE. THEY'RE IN HAVING A GOOD TIME. IT'S PRETTY FUN TO GO OVER AND WATCH. JUST TO SHOW YOU SO COURTNEY JOHNSON IS THE FOOD SERVICES COORDINATOR.

THAT'S WHAT WE CHANGED THE TITLE FROM KITCHEN MANAGER TO FOOD SERVICES COORDINATOR. AND SHE HAS DONE A GREAT JOB OVER THERE WITH COMING UP WITH A MENU.

NOW THEY HAVE A MENU THEY POST AND THERE'S REALLY GOOD PLANNING GOING FORWARD AND THE MEALS HAVE IMPROVED GREATLY.

AND THIS IS JUST A CALENDER TO SHOW YOU SOME OF THEIST ITS THAT THEY HAVE GOING ON. THEY HAVE PODIATRISTS COMING IN.

THEY'RE GIVING HAIRCUTS. PEOPLE ARE COMING IN.

WE HAVE HEALTH CLASSES. THERE'S FITNESS.

AND LOOK OUT. IT'S BINGO DAY.

IT'S HOPPING OVER THERE. EVERYBODY PROBABLY NEEDS TO GO PLAY SOME BIN GE WITH THE SENIORS.

THEY'RE PRETTY FUN. THEY HAVE A MENU, SO SHOWING A MENU, A LOT OF THE FOOD IS DONATED.

THEY RECEIVE -- THEY USE A PORTION OF THIS FUNDING TO BUY FOOD TO HAVE -- THEY IMPROVED THE QUALITY OF FOOD THAT THEY'RE DOING AND THEN THEY HAVE A LOT OF DONATIONS FROM DIFFERENT GROUPS AND JUST GOING THROUGH. THEY'RE ALSO USING FUNDING TO FIX -- REPLACE THE WASHER AND DRIER, JUST DIFFERENT BUDGETED ITEMS. THEY USE A LOT OF FUNDING FROM DONATIONS. THEY PUT CHAIRS IN THE ENTIRE CENTER, NEW CHAIRS FROM A GOOGLE DONATION AND IT WAS DEFINITELY NEEDED. BUT THIS SHOWS YOU THE CITY OF MIDLOTHIAN HAS 404,000 DOLLARS IN THE BUDGET AND THEN Y'ALL PUT IN 102,000 IN THE BUDGET. UNITED WAY, THE DUES FOR THE CENTER, PRIVATE CONTRIBUTION AND IS DONATION AND IS THEN WE HAVE ARTS AND CRAFT PROJECTS, PEOPLE PROVIDE FUNDING.

MARTIN MARIETTA. THE GRIFFINS MOTORCYCLE CLUB RAISED $8800 IN THE TOY RUN AND SO THEY DO STUFF FOR THE KIDS AND THE SENIORS AND THAT WAS HUGE THIS YEAR.

REALLY GREAT THE WHAT THEY PROVIDED FOR THE SENIORS CENTER.

AND THEN WITH THE FOOD, THE MANNA HOUSE TOW DOE NATURES

[00:20:04]

FOOD. KROGER DONATES FOOD.

THE NORTH TEXAS FOOD BANK AND DOG FOOD FROM WALGREENS SO THE SENIORS CAN GET FOOD. A LOT OF THE FOOD THEY GO THROUGH IT AND SEE WHAT WILL WORK WITH THE MEALS THAT THEY'RE PLANNING AND THEN WHAT'S LEFT THEY SET OUT AND THE SENIORS CAN TAKE IT HOME. SO THEY HAVE OTHER SO WE CAN ENSURE THEY HAVE MEALS AT HOME AS WELL.

AND THEN MIDLOTHIAN METHODIST MEDICAL CENTER WITH BINGO SPONSOR HEALTH AND WELLNESS, EDUCATION AND THEN MANY OTHER VARIOUS LOCAL BUSINESSES AND PRIVATE CONTRIBUTIONS HELP KEEP EVERYTHING GOING. AND YOU SEE SOME FUN OVER AT THE SENIORS CENTER, EVERYONE APPRECIATES PEOPLE ON THE BOARD AND THESE ARE STAFF MEMBERS THERE.

I'LL TELL YOU, THERESA'S COME IN AND TOOK ON A BIG LOAD AFTER KAREN LEFT TRYING TO TAKE THIS OVER AFTER ONE PERSON'S RUN IT THE ENTIRE TIME SINCE ITS INCEPTION AND SHE HAS DONE A GREAT JOB, REALLY CLEANED OUT THE CENTER, OPENED UP MORE SPACE FOR MORE PROGRAMMING OPPORTUNITIES AND THINGS OF THAT NATURE. SO JUST WANTED TO TALK TO YOU ALL ABOUT THAT AND I'M HAPPY TO ANSWER ANY QUESTIONS YOU MIGHT

HAVE. >> THIS MAKES ME WANT TO GET A

FAKE ID. >> I HIGHLY ENCOURAGE YOU, IF YOU HAVEN'T GONE THERE DURING A LUNCH TIME, DEFINITELY THE BINGO DAYS, PROBABLY A HUNDRED PLUS PEOPLE AND IT WAS A RAINY DAY.

PROBABLY A SLOW ONE FOR THEM. JUST TO HAVE A PLACE FOR THE SENIORS TO CONGREGATE AND HAVE THAT FELLOWSHIP, IT'S IMPORTANT.

IT'S REALLY A GREAT PROGRAM THAT YOU GUYS HAVE INVOLVED.

>> THANK YOU ALL FOR SUPPORTING IT.

IT MAKES A HUGE DIFFERENCE. >> NEXT UP, 2026-057, RECEIVING

[2026-057 Receive Midlothian Community Development Corporation financial report]

MIDLOTHIAN COMMUNITY DEVELOPMENT CORPORATION FINANCIAL REPORT.

WHO ARE WE PUTTING ON THE SPOT TONIGHT?

COME ON UP. >> OKAY.

HEATHER IS A TOUGH ACT TO FOLLOW HERE.

I'M GIVING YOU ALL BUDGET INFORMATION.

FINANCIAL INFORMATION. AS YOU CAN SEE ON THE BALANCE SHEET FOR THE REPORT ON 625, WHICH IS YOUR OPERATING BUDGET FUND, YOU HAVE FOR CASH AND CASH EQUIVALENT, $10 MILLION 961,105 AND YOU HAVE 500,000 IN INVESTMENTS.

YOUR OVERALL ASSETS FOR THIS FUND IS $12 MILLION 988,749.

YOUR LIABILITIES IS 185,8920, JUST THINGS WE HAVE TO PAY OUT THROUGHOUT THE MONTH. YOUR BEGINNING FUND BALANCE WAS $12 MILLION 902,885. YOUR REVENUES RECEIVED AS OF FEBRUARY 28TH IS 3 MILLION 950724 AND YOUR EXPENDITURES TO DATE FOR FEBRUARY WAS 4 MILLION 50,778.

AT THIS TIME, YOUR COMMITMENTS AS OF FEBRUARY WAS 4 MILLION 927,176. ON YOUR PNL ACCOUNT, YOUR SALES TAX IS COMING IN REALLY ON TARGET.

RIGHT NOW WE'RE AT 52% FOR FEBRUARY FOR 3 MILLION 748,159.

AND YOUR INTEREST IS RIGHT AT 48% AT 202,467.

THE CONTRIBUTION, YOU'LL SEE THAT $97 THAT WILL BE REALLOCATED THAT WAS A REIMBURSEMENT WE RECEIVED THAT WAS POSTED TO REVENUE. SO YOU'LL SEE THAT NEXT MONTH.

SO FOR OVERALL YOUR REVENUES AT THIS TIME WAS 3 MILLION 957,024.

FOR YOUR SALARIES AND YOUR OTHER EXPENDITURES, THE TOTAL FOR THAT IS $4 MILLION 50,778 SO RIGHT NOW, YOU'RE SHOWING A LITTLE LOSS FOR THE PERIOD OF 100,000 DOLLARS BUT OVERALL, YOU'RE DOING GOOD. WE HAD A COUPLE OF PURCHASES, LARGE PURCHASES, FOR SOME LAND THAT YOU PURCHASED THROUGHOUT THE YEAR SO ANY QUESTIONS ON ANYTHING?

[00:25:09]

>> I THINK ON THOSE OTHER PAGES YOU'LL SEE A BREAKDOWN OF THE ALLOCATIONS BETWEEN PROMOTIONAL, PROJECT GRANTS AND THEN AGAIN

OUR COMMITMENTS. >> I'LL ASK A QUESTION.

I LOOKED AT A LOT OF PNLS. I NOTICED VARIATIONS.

WHAT IS THE 18954 FOR SALARIES AND 6318 IN FEBRUARY.

IS THAT A THIRD PAYMENT IN JANUARY THAT WAS MEANT TO BE IN FEBRUARY OR SOME KIND OF CROSSOVER IN WEEKS?

>> SO WHAT HAPPENED AT FIRST PAY PERIOD THAT WE GOT PAID IN FEBRUARY WAS ALL THE HOURS WE WORKED IN JANUARY, SO THEY KIND

OF ACCRUED IT BACK TO JANUARY. >> IT'S ONE OF THOSE WEIRD

WEEKS. >> EXACTLY.

>> ALL RIGHT. ANY OTHER QUESTIONS?

[2026-058 Consider and act upon amendments and revisions to the Midlothian Community Development Corporation bylaws]

THANK YOU. APPRECIATE YOU.

ALL RIGHT. THEN WE'RE GOING TO BE OPENING UP 2026-058. CONSIDER AND ACT UPON AMENDMENTS AND REVISIONS TO THE MIDLOTHIAN COMMUNITY DEVELOPMENT CORPORATION BYLAWS. YOU HAVE A TAB FOR THIS.

THERE'S QUITE A BIT HERE. SO THIS IS ACTUALLY COMING REALLY FROM RECOMMENDS FROM COUNCIL.

THEY HAD A WORKSHOP IN JANUARY 27TH OF THIS YEAR AND REALLY THEY TRIED TO LOOK AT BEST PRACTICES AND PROCESSES FOR ALL OF OUR BOARDS AND COMMISSIONS AND SO AGAIN, THESE ARE AGAIN RECOMMENDATIONS THEY'RE ASKING FOR PARTICULAR ADJUSTMENTS TO KIND OF ALIGN EVERYBODY SO ALL OF THE DIFFERENT BOARDS, ALL THE COMMISSIONS ARE GOING THROUGH THE SIMILAR CONVERSATIONS, JUST BASED ON WHAT'S IN THEIR PARTICULAR BYLAWS SO THE MAJOR CHANGES, IF YOU'RE LOOKING AT IN THERE, IS I GUESS THE TERM EXPIRATIONS AND ELECTION OF OFFICERS.

IT'S GOING TO BE CHANGED, TERMS EXPIRE WHEN THE NEW OFFICERS ARE LOOKED AT THE MAY MEETING AND THEN WE HAVE LANGUAGE THAT IS GOING TO BE ALIGNED WITH PUTTING ITEM AGENDAS ON THERE FALLS TO THE PRESIDENT CAN PUT AN ITEM ON THERE.

IF THREE BOARD MEMBERS WANT TO PUT AN ITEM ON THE AGENDA, THEY CAN DO SO AND MAYOR CAN PUT AN ITEM ON HERE AS WELL.

THE OTHER ADJUSTMENT WOULD BE JUST MORE OR LESS JUST LANGUAGE OF STANDARDIZING HOW WE WOULD GO ACROSS UPDATING THOSE.

YOU ALL HAD THESE IN FRONT OF YOU ALREADY.

YOU'LL SEE A RED LINE DOCUMENT, BUT I DON'T KNOW IF YOU'RE GOING TO BE THE PERSON TO ANSWER QUESTIONS ABOUT THIS.

I WANT TO GIVE YOU ALL TIME TO LOOK AT THIS.

THEORETICALLY ON THE ELECTION OF OFFICERS, THAT WAS KIND OF THE BIG DISCUSSION AT THE WORKSHOP IS THAT WILL TAKE PLACE.

IT WILL NATURALLY HAVE TO TAKE PLACE FOR US IN MAY BECAUSE TYPICALLY I'LL BE ROLLING OFF, RIGHT.

SO WE'LL HAVE TO DO THAT ALREADY.

THAT PERSON WILL CONTINUE -- THAT WHOLE NEW GROUP WILL CONTINUE MAY THROUGH APRIL OF 27TH AND THAT WILL BE THE SAME FOR EVERY BOARD AND COMMISSION. THAT'S PROBABLY THE BIGGEST CHANGE. EVERYTHING ELSE IS MINOR

ADJUSTMENTS. >> WE ARE REQUIRED, IF YOU ALL FEEL COMFORTABLE WITH THAT, TO TAKE ACTION.

IF YOU ALL AGREE WITH THE RECOMMENDATION ON COUNCIL.

>> GO AHEAD. >> MOTION TO APPROVE.

>> MOTION TO APPROVE IS PRESENTED.

>> SECOND. >> SECOND.

WE HAVE A MOTION AT SECOND FOR THESE BYLAWS.

ALL IN FAVOR, PLEASE SAY AYE. SAME SIGN.

>> THANKS VERY MUCH. >> LET'S SEE.

[2026-059 Consider and act upon a Resolution Calling the Remaining Portion of the Midlothian Community Development Corporation Sales Tax Revenue Bonds, Taxable Series 2014 for Redemption Prior to Maturity; and Enacting Other Provisions Relating to the Subject]

OPENING UP NEXT, CONSIDER AN ACT UPON A RESOLUTION CALLING THE REMAINING PORTION OF MIDLOTHIAN COMMUNITY DEVELOPMENT CORPORATION SALES TAX REVENUE BONDS, TAXABLE SERIES 2014 FOR REDEMPTION PRIOR TO MATURITY AND ENACTING OTHER PROVISIONS RELATED TO THE SUBJECT AND WE'RE GOING TO LET ANNE TAKE THE LEAD

ON THIS CONVERSATION. >> I'LL JUST GO AHEAD AND PRESENT THIS THAT THIS AND THE NEXT ITEM, WE NEED TO REALLY HAVE THE DISCUSSION AND YOU ALL NEED TO PROVIDE SOME DIRECTION ON HOW YOU WANT TO THE PARK AS WELL AS WHETHER OR NOT YOU WANT TO PAY OFF THESE BONDS. AND THE TIMING OF IT IS SOMETHING THAT CAN BE FLEXIBLE. BUT IF WE PAY THE BONDS, THE INTEREST RATE THAT WE HAVE ON THOSE BONDS THIS CURRENT YEAR IS -- I HAD IT FLAGGED AND I LOST IT.

I BELIEVE IT'S 4% THIS YEAR. NEXT YEAR, I BELIEVE IT'S 4.12%.

AND THEN THROUGH THE REMAINDER OF THE BOND, IT'S FIVE AND A HALF PERCENT. SO RIGHT NOW, THE LAST AND I KNOW WE'VE TALKED ABOUT THIS FOR SEVERAL YEARS, BUT THE LAST

[00:30:04]

THING THAT MARK HAD PRESENTED FOR US FROM SAMCO WAS USING A 4.15% IF YOU ISSUED SALES TAX REVENUE BONDS AND SO LONG RANGE THAT WOULD SAVE YOU SOME FUNDS TO BE ABLE TO DO THAT.

THIS IS THE FIRST ISSUE NOW I KNOW YOU HAVE TO LOOK AT YOUR FUNDING SO IT'S WHETHER OR NOT YOU WANT TO DO THAT PAYOFF THIS YEAR AND GO AHEAD AND LOCK IN THOSE SAVINGS ON BOND RATES.

NOTHING'S GUARANTEED. IN BOND RATES.

LIKE THE ECONOMY IN GENERAL. >> JUST FROM CONTEXT, ULTIMATELY WE'RE TALKING ABOUT WE DO HAVE THE FUNDS THAT CAME SO WE HAD DISCUSSION AT ONE OF OUR EARLIER WORKSHOPS ABOUT ADDRESSING THE EXISTING DEBT THAT WE HAD IN PLACE BEFORE WE GET INTO THAT.

YOU KNOW, PRIMARILY THOSE FIVE AND A HALF RATES THAT ARE GOING TO BE CREEPING UP ON 2028 AND AGAIN, MAKING SURE WE'RE DOING THIS IN THE RIGHT FRAME HERE BECAUSE THE NEXT CONVERSATION KIND OF INCLUDES THIS AS WELL. NEXT AGENDA ITEM, ULTIMATELY WE HAVE A COMMITMENT RIGHT NOW FOR FUNDING FOR PARK THAT COULD COME INTO PLAY WITH THIS AS WELL. SO WE JUST NEED TO GET -- WE TECHNICALLY HAVE TO GET DIRECTION AND WE DO HAVE POTENTIAL RESOLUTIONS IF YOU ARE COMFORTABLE, GO AHEAD AND PAY IT OFF. WE NEED TO HAVE SOME DISCUSSION ABOUT WHAT THE WILL OF THE BOARD IS.

>> BEING THE NEWEST HERE, I MAY ASK SOME QUESTIONS THAT HAVE MAYBE BEEN ASKED IN THE PAST. SO THE MATURITY DATE OF 26 AND 27, THOSE ARE MUCH SMALLER THAN THE MATURITY DATE OF 2034.

WE PAID OFF 2034 TODAY. WHAT ARE WE SAVING IN INTEREST GENERALLY SPEAKING? DO WE KNOW THAT CALCULATION?

>> I WILL TELL YOU THE -- YOU'RE TALKING ABOUT 2014 VERSUS THE 2020 FUND. EVERYONE

>> I WAS GOING TO ANOTHER QUESTION.

IF WE ACTED ON THIS AND DETERMINE TO PAY IT OFF ALL

TODAY, WHAT DO WE SAVE? >> 595,000.

>> SO IN THEORY YOU'RE PAYING -- >> RIGHT.

>> IN THEORY YOU'RE NETTING 1 TLAU THE PAYMENT.

OVER THE NEXT EIGHT YEARS. >> 2 MILLION THAT YOU HAVE.

>> RIGHT. >> RIGHT.

>> WE'VE GOT A BALANCE OF ALMOST 8 MILLION.

WE JUST HEARD. IN THAT ACCOUNT.

ARE 624 WE HAVE SIX AND A HALF. WE HAVE TWO ACCOUNTS.

GENERAL. >> OKAY.

>> THIS MAY BE A PRECURSOR TO THE NEXT ONE.

I'M JUST A GENERAL BELIEVER IN HOLDING AS LITTLE BIT AS POSSIBLE. WHETHER IT'S PERSONAL, LITTLE DEBT. WE HAVE THE FUNDS TODAY.

THE SALES TAX IS PRETTY STEADY. HOPEFULLY THAT CONTINUES AND GROSS. GROWS.

IF WE BELIEVE THAT'S THE CASE, WHICH I DO, THEN I DON'T SEE WHY WE WOULDN'T GO AHEAD AND TAKE AN ACTION.

THAT'S JUST MY PERSONAL OPINION. >> I WILL TELL YOU, KASEY HAS A VERY GOOD POINT THAT WE DID HAVE A MEZZANINE LOAN THAT WAS USED TO HELP THE HOTEL. THAT WAS PAID OFF IN FULL.

AND THAT IS WHY YOUR DEBT SERVICE FUND HAS THE MONEY TO PAY THIS OFF. WE COULD HAVE PAID IT OFF WHEN THAT LOAN WAS PAID IN FULL BUT THE BOARD CHOSE TO KEEP THE FUNDS AS AN OPTION BUT NOW KNOWING WHAT THE INTEREST RATES ARE GOING TO RAISE TO, I THINK IT DOES MAKE SENSE TO DO IT BUT AGAIN, IT'S CHARLES' DECISION WHETHER OR NOT YOU WANT TO USE

YOUR CASH FOR THAT. >> I'M ONE OPINION.

I WOULD BE IN FAVOR OF USING THAT CASH RIGHT NOW.

>> I WOULD AGREE WITH HIM. >> DO YOU HAVE DISCUSSIONS ON

THIS TICKTUM? >> I MOVE TO ADOPT A RESOLUTION CALLING THE REMAINING PORTION OF THE MIDLOTHIAN COMMUNITY DEVELOPMENT CORPORATION SALES TAX REVENUE BONDS TAXABLE SERIES 2014 FOR REDEMPTION PRIOR TO MATURITY.

>> I WILL SECOND. >> OKAY.

>> YOU HAVE A MOTION IN SECOND. ANY MORE DISCUSSION ON THIS ITEM? ALL IN FAVOR, PLEASE SAY AYE.

ANY OPPOSED? THANK YOU, ANNE.

[2026-060 Consider and act upon project funding for Heritage Plaza]

NEXT UP, WE WILL MOVE -- I'M ASSUME YOU'RE DOING THIS ONE AS WELL. WE HAVE 2026-060, CONSIDER AND ACT UPON PROJECT FUNDING FOR HERITAGE PLAZA.

GIVING CONTEXT FOR SOME OF THE FOLKS ON THIS ONE, THIS GOES

[00:35:05]

BACK TO OUR DECEMBER 18TH MEETING, CORRECT.

WE DID AUTHORIZE $2 MILLION COMMITMENT TO OUR HERITAGE PARK PROJECT AND AGAIN SO WE ARE IN A SENSE ON THE HOOK FOR THAT.

WE GOT TO FIGURE OUT THE FUNDING MECHANISMS AND IF YOU DIDN'T PAY ATTENTION, YOU'RE HERE TO GIVE THE COUNCIL A REPORT FROM THE APRIL 14TH AND THAT PROJECT WAS APPROVED BY COUNCIL TOTAL

PROJECT APPROVED BY THEM. >> I CAN'T REMEMBER THESE CERTAIN PARAMETERS OF 17 AND SOME CHANGE MILLION OR

SOMETHING. >> ROUGHLY THE FULL 18 MILLION.

>> IT THAT INCLUDES ECONOMIC DEVELOPMENT CORPORATION AND COMMUNITY DEVELOPMENTS CONTRIBUTION.

>> I DON'T KNOW HOW MUCH YOU WANT ME TO GO BACK AND KIND OF SUMMARIZE WHAT DONE FOR THE NEWER MEMBERS BUT WE DID GO IN AND LOOK AT THE FUNDING OPTIONS AND THEY BASICALLY WERE -- WE COULD BOND. WE MOVED AWAY FROM DOING A CERTIFICATE OF OBLIGATION THAT THE COUNCIL WOULD APPROVE AND STILL HAVE THAT SALES TAX BOND OPTION.

THAT OPTION GRANTED WE HAVE TO COME BACK BECAUSE WE'RE NOT ASKING FOR APPROVAL OF ANYTHING TONIGHT SPECIFICALLY.

WE'RE JUST LOOKING FOR DIRECTION THAT THEN WE CAN COME FORWARD WITH A BOND IF THAT'S THE OPTION OR IF YOU PAY CASH, YOU COULD GO AHEAD AND MAKE THAT DECISION TODAY IF YOU WANTED TO FULLY FUND IT IN CASH. BUT WE LOOKED AT THOSE OPTIONS.

WE'VE SETTLED WITH SALES TAX BOND, I BELIEVE, OR CASH OR COMBINATION OF THE TWO. AND THAT COULD BE -- YOU HAVE THE 10 MILLION SO IT COULD BE ANY COMBINATION YOU CHOSE BETWEEN ONE AND TEN OR EITHER ONE.

OF COURSE THE CASH IN HAND, YOU KNOW, YOU COULD FUND IMMEDIATELY BECAUSE YOU DO HAVE ENOUGH ALTHOUGH THAT WILL BRING YOUR FUND BALANCE DOWN CONSIDERABLY AND THEN THE BONDS, I BELIEVE THOSE WOULD -- WE'VE HAD TO COME BACK AT YOUR NEXT MEETING AT THE END OF MAY AND HOW QUICKLY COULD WE HAVE THE FUNDS.

120. OKAY.

IT'S THIRTY DAYS AFTER THAT. OKAY.

MY SEVEN-DAY INCLUDED BOTH. >> DO YOU HAVE THE UPDATES FOR THE FOLKS ON THAT FORM RIGHT THERE? DO YOU HAVE COPIES FOR THEM? I'M JUST CURIOUS.

IF YOU DON'T MIND. GO AHEAD.

THEY COULD LOOK AT THIS. >> I DIDN'T KNOW -- I DID 10

MILLION AND 5 MILLION. >> JUST GENERAL DISCUSSIONS

STARTING POINTS. >> I DID IT FOR TEN YEARS AND

TWENTY YEARS. >> OKAY.

>> JUST BECAUSE THOSE ARE ALL THINGS THAT WE WOULD HAVE TO

WORK THROUGH WITH DIRECTION. >> GOTCHA.

>> OKAY. >> THE FIRST ONE IS 10 MILLION IN FIVE YEARS. AND THAT WAS KIND OF THE MAX.

I DID FIVE. BUT ALSO I CAN CALCULATE THE EIGHT. THE FIRST PAGE IS THE LOAN OVER TEN AND THE SECOND PAGE IS THE LOAN OVER TWENTY YEARS.

>> YOU GO AHEAD. YOU GO THROUGH.

>> IF YOU LEFT ON THE FIRST PAGE, IF YOU'RE LOOKING LEFT TO RIGHT, WE HAVE THE SALES TAX REVENUES RECEIPTS, OTHER REVENUES TOTAL REVENUES. THEN WE HAVE OUR EXPENDITURES, SPECIAL PROJECTS, TOTAL EXPENDITURES AND NET INCOME.

WE'RE REALLY TRYING TO GET TO WHAT WE HAVE AVAILABLE ON AN ONGOING BASIS AND SO IF RIGHT ALMOST IN THE MIDDLE IS WHAT YOUR NET INCOME OR WHAT WOULD BE AVAILABLE TO USE FOR DEBT SERVICE. WE HAVE OUR EXISTING DEBT SERVICE AND NOW THAT'S GOING TO CHANGE BECAUSE WHAT YOU JUST AUTHORIZED. BUT THEN SO THEN WE'RE ADDING IN THE TEN MILLION ON THE FIRST PAGE, YOU'LL SEE THE TOTAL.

IT'S ROUGHLY A MILLION-TWO. IF WE FUNDED IT OVER TEN YEARS.

THAT GIVES US A COMBINED OF ALMOST A MILLION-NINE AND LOOK TO THE -- THEN YOU SEE WHAT YOUR BASIC STILL SURPLUS IS, WHAT YOU

[00:40:02]

WOULD STILL HAVE EACH YEAR AND ON THE FAR RIGHT-HAND COLUMN, IS COVERAGE AND THAT'S SOMETHING THAT WE LOOK AT WHEN WE'RE SELLING BONDS. HOW MUCH EXCESS DO YOU HAVE? HOW MUCH CAN SALES TAX TURN DOWN BEFORE WE'RE IN A PROBLEM? AND SO THREE TIMES COVERAGE WOULD BE VERY HEALTHY.

AND SO TYING BACK TO WHAT DREW WAS SAYING EARLIER, LESS DEBT IS BETTER AND I AGREE. CITIES AND INDIVIDUALS SHOULD BORROW LESS AND ONE OF THE OPTIONS ON BORROWING LESS IS DOING IT FOR A SHORTER PERIOD OF TIME.

IF YOU LOOK AT THE SECOND PAGE AND I'M JUST GOING TO SHOW YOU OVER IN THE RIGHT-HAND, IT DOES LOWER THE ANNUAL PAYMENT.

LOOK AT THE COVERAGE THERE. IT'S FIVE TIMES OVER FIVE TIMES COVERAGE. MAKES IT MORE SECURE ON YOUR ANNUAL REVENUE BUT I POINT OUT THE DIFFERENCE IN INTEREST BY CARRYING IT TEN MORE YEARS. AND THAT'S GOING TO BE THE FOURTH COLUMN OVER HAS AN INTEREST COLUMN, 2 MILLION 319 BUT IF YOU'RE CARRYING IT TO TWENTY YEARS, IT GOES UP TO 2 MILLION 678. IT'S GOING TO COST MORE AND ONE AVENUE OF COSTING LESS IS BORROWING FOR A SHORTER PERIOD OF TIME. IF YOU HAVE THE WHEREWITHAL AND IN THIS CASE, YOU WOULD HAVE THE WHEREWITHAL TO DO IT SHORTER PERIOD OF TIME. I RAN A FIVE MILLION IF YOU WANT TO SEE THAT JUST AS A COMPARISON AND THEN YOU ALL -- IT DOESN'T HAVE TO BE FIVE, TEN, AND IT COULD BE ZERO.

>> THIS ONE SAYS FIVE ON THE SECOND PAGE.

>> THERE'S THE FIVE.

>> SO LET ME GO BACK TO THE 10 MILLION COMPARISON ON FIVE AND TEN YEARS. THE INTEREST DIFFERENCE ON THAT, IF YOU GO -- I'M SORRY, IF YOU GO 10 MILLION FOR TEN YEARS, IT'S 2 MILLION 319 WORTH OF INTEREST.

10 MILLION OVER TWENTY YEARS, INTEREST GOES UP TO 5 MILLION 476. DOUBLES SO AGAIN HANGING OVER A SHORTER PERIOD OF TIME IS QUITE BENEFICIAL.

AND REDUCES OUTGOING FUNDS. YOU COULD DO THE SAME COMPARISON ON THE 5 MILLION THE AND 10 AND 20 YEARS.

>> I'M LOOKING AT THIS. I'VE JUST GOT THIS OUT THERE.

IS EVERYONE IN AGREEMENT WE DO NOT WANT TO PUSH THIS UP FOR TWENTY YEARS? I DON'T THINK THAT'S AN OPTION IN MY OPINION. I WOULD LIKE TO JUST SCRATCH THAT AS EVEN A CONSIDERATION. THEN WE CAN FOCUS OUR ATTENTION.

AGAIN, AS WE'RE HEARING, WE HAVE MULTIPLE OPTIONS HERE, OBVIOUSLY THE SALES TAX REVENUE BONDS, UP TO A FULL AMOUNT, THE HYBRID APPROACH OR WE CAN LOOK AT CASH. AGAIN, MANY OF THE THINGS YOU ALL GOT TO CONSIDER, PARTICULARLY AS THIS ORGANIZATION CONTINUES TO MOVE FORWARD IS OBVIOUSLY WE DON'T KNOW WHAT PROJECT IS GOING TO BE COMING IN THE FUTURE W HE DON'T WANT TO CASH STRAP THIS GROUP AND CONTINUING TO INVEST THESE VALUES APPROPRIATELY. WE DO WANT TO MAKE SURE WE'RE NOT TAKING OUT TOO MUCH BOND THAT'S GOING TO HAVE INTEREST OF PAYING LONG TERM. SEVERAL OPTIONS HERE.

I KNOW HE PROVIDED SOME NUMBERS BUT AGAIN, IT'S WE FEEL IS THE APPROPRIATE AMOUNT TO BOND OR CASH OR WHATEVER THAT MIGHT LOOK

AT. >> WHERE DO YOU GUYS WANT TO

START WITH CONVERSATION ON THAT? >> YES.

>> THIS IS PROBABLY THE MOST SIGNIFICANT AS FAR AS THE IMPACT, THE SIZE AND INVESTMENT FROM THIS COMMITTEE.

WOULD YOU SAY THIS IS THE BIGGEST ONE?

>> COMMUNITY PARK WAS DEFINITELY -- DO WE HAVE AN AMOUNT?

[00:45:04]

5 MILLION. THEORETICALLY AT LEAST IN YOUR TENURE, ONE OF THE LARGER INVESTMENTS.

WE HAD A CONTRIBUTION HERE AT THE CITY HALL BUT I DON'T THINK

IT EQUATED ANYWHERE. >> IT'S A QUESTION.

>> OKAY. ANY OTHER QUESTIONS ABOUT -- WE'RE TRYING TO GIVE SOME DIRECTION TO STAFF ON WHAT OUR

WILL IS ON THIS. >> I'M JUST TRYING TO WAIT.

JUST KIND OF GETTING MY BEARINGS HERE.

I WAS DOING SOME ROUGH MATH BETWEEN OUR TWO ACCOUNTS AFTER THE RESOLUTION WE JUST MADE. WE HAVE ROUGHLY 12.4 FREE CASH.

IS THAT RIGHT? >> WELL, CASH.

>> OF CASH. >> I WON'T SAY IT'S FREE.

>> SOME OF IT IS. >> GOOD.

>> BACK OVER TERM. WE'RE ALSO EXPECTING SALES TAX TO MAINTAIN LEVELS OR INCREASE, RIGHT.

IF YOU LOOK AT THE LAST -- I WOULD THINK THAT'S A BASELINE ASSUMPTION FOR NOW UNLESS SOMETHING DRAMATIC HAPPENS,

RIGHT? >> RIGHT.

>> AT THE FOURTEENTH MEETING, I THINK IT WAS PROPOSED 12 TO 18 MONTHS. IS THAT THE ROUGH RANGE OF WHEN THIS SHOULD BE COMPLETED? WHEN DO WE ACTUALLY OWE THE FUNDS? IS THERE A SEPARATE ACCOUNT THAT WE HAVE TO TRANSFER OVER TO SEE THE --

>> TO REIMBURSE THE SITUATION. >> WE'RE NOT PAYING THIS TOMORROW. IF WE APPROVE IT TONIGHT, WE'RE NOT PAYING IT OUT OF THE BANK TOMORROW.

>> I GUESS THAT PROBABLY IS ANOTHER OPTION FOR Y'ALL.

IF Y'ALL WANT TO SAY WE JUST WANT TO SEND YOU ALL MONEY AND BE DONE, WE CAN DO THAT. IF YOU WANT TO REIMBURSE EVERY INVOICE, THAT IS AN OPTION AS WELL.

>> IN MY BUSINESS, WHEN I DO THE BUILD, I DON'T MIND A LITTLE BIT OF ADMINISTRATIVE EXTRA WORK TO MAKE SURE THAT WE'RE NOT PAYING THINGS INAPPROPRIATELY AHEAD OF CONTRACTORS WHEN THE WORK'S NOT DONE. YOU WANT TO MAKE SURE THAT YOU HAVE SOME KIND OF LEVERAGE AND I'M NOT INSINUATING THERE'S LEVERAGE BETWEEN MCD AND THE CITY BUT WHAT I'M SAYING IS OVER THE NEXT TWELVE MONTHS, WE CUT OUR THE 9348 OR 14 MILLION 500 IF THAT RATE STAYS. THAT CASH STRAP OF 2.4 LEFT AFTER THIS CHANGES VERY QUICKLY. WE ALSO HAVE LAND THAT THE MCD OWNS THAT WILL EVENTUALLY BE WHETHER THAT'S GRANT THE OUT OR THERE'S SOME COMPENSATION BACK FOR, IT THERE'S ANOTHER PIECE THERE. SO I WOULD RECOMMEND CASH OVER TIME BECAUSE WE HAVE IT TODAY, THERE'S SOLACE IN THAT.

THERE'S PROTECTION IN THAT. BUT THAT NUMBER'S GOING TO GROW OVER TIME. I WOULD SAY REIMBURSEMENT IS A REALLY GOOD OPTION IF THAT'S VIABLE.

THAT'S JUST AGAIN MY OPINION. LESS DEBT, MORE CASH.

WE HAVE ENOUGH. IT'S GOING TO KEEP GROWING.

THERE'S OTHER PROJECTS THAT COME UP BUT THIS CAN ALWAYS BE AN OPTION. IF THERE'S ANOTHER PROJECT, THIS IS STILL HERE. THIS DOESN'T GO AWAY.

>> CORRECT. AND ALL WE WANT TO DO IS PAY THE CONTRACT WHEN THE BILL COMES IN THE BILL COMES IN, YOU ALL SEND THE MONEY. WE JUST WANT TO DO THAT MULTIPLE

WAYS. >> THE WAY I'M NETTING IT OUT IS IF WE APPROVE THIS TODAY, WE HAVE CASH OF 2.4 MILLION.

EFFECTIVELY. BUT THAT'S JUST ON THE BALANCE SHEET IF YOU WILL. THAT'S NOT ACTUALLY GOING TO BE THERE WHEN WE PAY THAT OUT. IT'S GOING TO BE MUCH HIGHER.

>> ECONOMIC DEVELOPMENT, THEY DID A TWO, TWO, TWO.

>> TWO MILLION A YEAR. >> STARTING THIS FISCAL YEAR.

>> SO THE BORED MOVES FORWARD AND WE CAN THEORETICAL NUMBERS HERE, DID A FIVE MILLION NOW TWO AND A HALF, TWO AND A HALF, SOMETHING LIKE THAT. WAS THAT DOABLE? IS THAT SOMETHING THAT'S AN OPTION, THE CASH OPTION?

>> WE JUST NEED THE MONEY TO PAY WHEN THOSE CONTRACTOR BILLS COME IN, WE NEED -- WE HAVE TO HAVE THE ABILITY.

>> I DON'T WANT TO BE ARGUMENTATIVE.

>> WHAT'S THE BENEFIT OF PAYING IT NOW VERSUS WHEN THE BILLS COME IN? SIX, TWELVE MONTHS LATER? HOWEVER LONG THAT IS? IS IT JUST MOVING FROM HERE TO

THERE? >> IF YOU SAID WE'RE GOING PAY 5 MILLION NOW AND COME BACK, WE WOULD PUT THE MONEY ON A PROJECT FUND AND AS THE BILLS CAME IN, WE PAID OUT OF THAT.

TO YOUR POINT, IT'S GOING TO BE AN ADMINISTRATIVE THING.

BILLS CAME IN. WE NEED THIS MUCH.

WE NEED TO MOVE THIS AMOUNT OVER FROM MCD TO PAY THE PROJECT.

THAT'S WHAT IT'S GOING TO BE. >> THIS IS OUR RECOMMENDATION TO THE COUNCIL. WHAT WE'RE VOTING ON TONIGHT OR POTENTIALLY ACTING ON IS A RECOMMENDATION TO THEM.

>> ACTUALLY THE CASH OPTION WOULDN'T GO BACK TO COUP.

BECAUSE THE AGREEMENTS'S ALREADY BEEN DONE.

THE BOARD'S APPROVED IT. COUNCIL'S APPROVED IT.

[00:50:04]

AT THIS POINT THE CASH OPTION IF THAT'S WHAT YOU ALL CHOOSE IS DONE. IF YOU DO A BOND OPTION, IT WOULD NEED TO GO BACK TO COUNCIL BECAUSE I NEED TO APPROVE THIS.

>> I'M NOT SUPER FAMILIAR WITH BONDS, WITH SALES TAX BONDS.

IF THERE'S A STRONG ARGUMENT FOR THAT, I'M ALWAYS OPEN MINDED BUT JUST LOOKING AT IT, I WOULD SAY CASH IS TO ME THE EASY OPTION.

>> GOT YOU. >> I WOULD HAVE TO AGREE WITH

HIM. >> OKAY.

>> ANY DISCUSSION? >> I WAS THINKING WHAT DREW WAS SAYING. HE HAD A BETTER WAY TO SAY IT.

I WAS ON THE SAME PAGE WITH HIM. >> NO DISCUSSION, THIS IS CALLED

COMMON SENSE. >> SCOTT?

ANY DISCUSSION? >> WE'RE JUST BRINGING BACK THE OPTIONS. I THINK THIS BOARD WILL DIRECT US TO GO UP TO A CO WHICH COUNCIL DENIED.

THERE WAS A DESIRE BEFORE TO DO BONDS.

SO WE'RE GOING TO BRING IT BACK OTHER OPTIONS.

>> SO IF WE'RE WANTING TO MOVE FORWARD WITH CASH, IT'S DEFINITELY SOMETHING THAT WE COULD MAKE A CLEAR ACTION ON TONIGHT. SO I GUESS DO WE HAVE TO PUT A CERTAIN DATE ON IT? IS THAT MORE OR LESS THAT'S THE

-- >> GUIDELINES FOR US TO SEND IT.

WHEN WOULD THAT NEED BE DISPERSED FROM ONE ACCOUNT TO

THE NEXT? >> AGAIN, JUST CASH.

>> JUST CASH. I MEAN, IF Y'ALL WANT TO HOLD THE MONEY, AGAIN, IT'S JUST MORE ADMINISTRATIVE, WE'LL GET THE BILL. WE'LL GIVE IT TO MELISSA.

SHE WILL MOVE THE MONEY OUT. INTO OUR ACCOUNT AND PAY THE

BILL. >> SO IF YOU ALL CHOOSE, IF YOU ALL THINK FROM AN ADMINISTRATIVE POINT IT WOULD BE EASIER TO MOVE, BIGGER CHUNKS AT A TIME. AND YOU CAN DO THAT TOO.

>> AS FAR AS THE ADMINISTRATIVE SIDE, IS THIS SOMETHING THAT -- IS THAT TYPICALLY NORMAL YOU'RE GIVING AN INVOICE TO USE ECONOMIC DEVELOPMENT FOR 5,000 DOLLARS FOR THIS GAVEL OR

SOMETHING LIKE THAT? >> IT DEPENDS.

I DON'T KNOW THAT WE'VE DONE A WHOLE LOT OF THAT INVOICE-FOR-INVOICE THING. USUALLY WE WILL MOVE THE MONEY INTO A PROJECT FUND AND PAY IT OUT OF THERE.

THIS WILL BE A LITTLE DIFFERENT. WE ARE HAVING TO DO THAT ON THIS PARTICULAR PROJECT. WE ARE DOING THAT.

>> OKAY. >> SO IF YOU ALL CHOOSE TO DO THE SAME THING, WE'LL TAKE THAT BILL, DIVIDE IT UP BETWEEN THE MED, THE MCD AND THE CITY BECAUSE THE CITY ACTUALLY APPROVED 19 ½ BECAUSE WE'RE DOING A BIGGER PROJECT IN THE FUNDING THAT WE HAD JUST FROM THE TWO CORPS.

THE BILL WILL BE SPLIT THREE WAYS IN SOME INSTANCES DEPENDING

ON WHAT PIECE OF THE PARK IT IS. >> ALL RIGHT.

>> OKAY. >> IF YOU ALL HAVE DESIRE, I WANT TO MAKE A MOTION, OBVIOUSLY WE HAVE THE ABILITY TO DO SO.

>> ONE MORE QUICK QUESTION. APOLOGIZE FOR THAT.

LET'S JUST GO THROUGH THAT. WE COMMIT TO CASH.

IN MY MIND THAT CASH SOF THE BALANCE SHEET.

IT DOESN'T MATTER WHETHER IT'S INVOICES LATER, THAT'S JUST ADMINISTRATIVE KIND OF THING. ARE A 4 MILLION DOLLAR PROJECT WALKS IN THE DOOR AND IT'S THE BEST THING WE'VE SEEN.

DOES THIS HAVE TO GO BACK TO COUNCIL THAT WE NEEDED TO DO THIS OPTION THEN FOR THAT SO THERE'S A POTENTIAL LITTLE TRIP UP THERE. IF WE DON'T HAVE AS MUCH CASH AVAILABLE TODAY IF THE PERFECT PROJECT COMES ALONG.

>> I DON'T KNOW WHAT OUR OBLIGATIONS OR WHAT OPPORTUNITIES BY TAKING ALL THE CASH OUT, YOU LOSE AND HOW QUICKLY THAT COULD BE PROBLEMATIC.

IF AT ALL. >> LOOKING AT THE PAST EXPENSES TO YOUR POINT, KEVIN, RIGHT, TWO AND A HALF IN CASH IS STILL A PRETTY DECENT AMOUNT. BUT THINGS SEEM TO BE SCALING UP HERE AND CHANGING SO YOU NEVER KNOW.

THAT'S THE ONLY RISK I CAN SAY. >> NOT THE ONLY.

>> THAT HIS THE MAJOR. >> I THINK GOING BACK TO KEVIN'S QUESTION EARLIER FROM A DOLLAR AMOUNT, I THINK THIS PROBABLY IS THE BIGGEST PROJECT BUT FROM AN IMPACT AMOUNT, PROBABLY SOME OF THOSE WERE THE SAME BECAUSE YOUR INCOME WAS A LOT LESS.

YOU DID 4 OR $5 MILLION TO THE HOTEL AS A PERCENTAGE OF THE THING OR THE PARK, THOSE WERE BIG IN COMPARISON TO THIS.

SO THEY'RE PROBABLY ON THE SAME SCALE FROM THAT STANDPOINT BUT FROM A PURE DOLLAR AMOUNT, THIS IS PROBABLY.

>> MAYBE TO THE POINT, INSTEAD OF DOING THE WHOLE AMOUNT AT ONE TIME, WE WILL DO FIVE, THREE LATER SO WE DON'T PUT OURSELVES IN THAT SCENARIO IF SOMETHING DOES COME.

THAT WAS ONE OF THOSE THINGS WE CAN'T MISS OUT ON.

[00:55:03]

>> WHEN DO YOU EXPECT THE FIRST BATCH OF REIMBURSABLE COSTS

WOULD COME IN? >> I'M GOING TO GUESS WE'RE PROBABLY JUNE OR SO BEFORE WE KICK IT OFF.

I WILL SAY JULY PROBABLY BEFORE WE START GETTING SOME.

>> IN MAY. >> THEY'LL PROBABLY START ONCE A MONTH IS WHAT I WOULD EXPECT. THAT THEY WOULD START.

SO JUNE, JULY, TIMEFRAME. >> I THINK IT'S A GREAT IDEA.

>> ESPECIALLY KNOWING IT'S RIGHT AROUND THE CORNER.

>> TO YOUR POINT, I MEAN, IT'S JUST A MATTER OF TIMING AND AN I PREVIOUSLY IF THE NEXT BIG PROJECT COMES ALONG.

WE'LL HAVE MARK BACK IN HERE AND QUICKLY GET THIS PROCESS STARTED. AS LONG AS THE BOARD APPROVES IT AND THE COUNCIL APPROVES IT AND HOW QUICK DO YOU NEED THE MONEY?

>> THAT WILL BE IT. >> ONE THING I WOULD HAVE YOU CONSIDER OR THINK ABOUT, DEPENDING WHAT TYPE OF PROJECT, IT COULD BE A TAXABLE PROJECT. ONE OF THE BENEFITS ABOUT THIS PROJECT IS IT'S A THROUGH IRS RULES.

NOT ANYTHING ELSE. IT'S A PUBLIC IMPROVEMENT, PUBLIC IMPROVEMENT CAN BE DONE TAX EXEMPT.

YOU'RE BORROWING A TAX EXEMPT LEVELS.

IF IT'S A PROJECT THAT HOTEL PROJECT WAS TAXABLE, SO NOW INSTEAD OF BORROWING AT 4%, YOU'RE BORROWING AT 6%.

AND IT'S SOMETHING THAT A LOT OF TIMES CDC, E DID DC, SALES TAX PROJECTS FOR ECONOMIC DEVELOPMENT ARE TAXABLE PROJECTS BECAUSE ONE OF THE BENEFICIARIES IS A PRIVATE INDUSTRY.

WHICH IS WHAT ECONOMIC DEVELOPMENT CORPORATIONS ARE FOR. SO IN THAT REGARD A PROJECT THAT YOU'RE DOING HERE IS TAX EXEMPT IS GOING TO BE A BORROWING COST MUCH LOWER THAN WHAT MIGHT BE FOR SOMETHING ELSE.

THERE WOULD BE SOMETHING TO CONSIDER IN JUST USING WHAT WE HAVE SHOWN HERE INSTEAD OF USING ALL YOUR CASH, BORROWING 5 MILLION, TAX EXEMPT, LOCKING IT IN, IT'S PERMANENT.

IT'S YOUR RATE FOR TEN YEARS CAN.

WHATEVER THAT RATE WOULD BE. THAT LEADS FIVE MILLION FOR OTHER PROJECTS THAT YOU CAN STILL DO CASH FUND.

THAT WOULD BE IF YOU BORROWED WOULD BE TAXABLE.

WE KNOW YOU'RE LOCKING IN INTEREST RATES NOW.

WE'RE ESTIMATING 4.15% AND I THINK WE WOULD DO BETTER THAN THAT. THAT'S LOCKED IN.

IN THE FUTURE, IT COULD BE A PROJECT THAT IF YOU FUNDED IT THROUGH BONDS WOULD HAVE TO BE TAXABLE BONDS.

SO TAXABLE BONDS HAVING CASH TO PAY CASH WOULD BE MORE THAN BORROWING AT TAXABLE LEVELS. DO YOU HAVE A ROUGH SENSE OF WHAT THE FIVE MILLION OVER TEN YEARS WOULD BE AT 6%?

>> I CAN CALCULATE IT. BUT I MEAN --

>> IS THAT 1.16, 20% INCREASE IN RATES AND 500,000 DOLLARS? EXTRA IN INTEREST OVER TEN YEARS?

>> IF THERE WAS A TAXABLE RATE. I'M TRYING TO GET A SENSE OF THE

SCALE. >> YES.

I THINK WE'RE TALKING ABOUT THIS IS 415, YOU MIGHT THINK THAT TAXABLE BONDS ARE GOING TO BE 20% MORE TO 25% MORE.

THERE MIGHT BE 5 ½%. SO THAT'S GOING TO INCREASE THE COST BY PROBABLY 300,000 DOLLARS.

400,000 DOLLARS. IF YOU'RE LOOKING FOR A BALLPARK. I'VE GOT A CALCULATOR.

>> WE'RE USING OUR CASH NOW TO POTENTIALLY SPEND 300,000 MORE LATER IF A TAXABLE PROJECT COMES ALONG THAT WE DON'T HAVE THE CASH FUNDS FOR THEN. WE WOULD HAVE MOST CASH FOR MOST PROJECTS THAT ARE GOING TO COME TO IT.

>> THINGS YOU'RE SEEING. GIVEN YOUR POINT OF THAT TEN MILLION IS THE BIGGEST GROSS DOLLAR, I DON'T SEE US DOING

THAT VERY OFTEN. >> WITHOUT GOING INTO YOUR WORK.

YOU ALWAYS HAVE PROJECTS AND ANYTHING ON THE HORIZON THAT YOU CAN FILL WITH THAT THAT COULD POTENTIALLY IMPACT DISCUSSIONS AT THE EARLY STAGES AS YOU HAVE CONVERSATION WAS PROJECTS THAT

KIND OF COME TO? >> I DON'T SEE ANYTHING ON THE HORIZON THAT WOULD AFFECT THAT. WE'VE GOT SEVERAL PROJECTS WE'RE IN DISCUSSIONS WITH BUT SOME OF THOSE ARE SPREAD OUT OVER TIME AND THE REST OF THEM ARE SMALLER.

>> OKAY. >> IS THE MT. ZION THE ONLY ASSET WE HAVE THAT WE COULD SEE SOME VALUE ADDED LATER?

>> YES. THERE'S TWO ASSETS THERE THAT WE ALSO HAVE. WE HAVE TO KEEP THAT IN MIND.

3 >> OKAY.

>> AGAIN IF WE'RE LOOKING AT THIS IS A TIME THAT AGAIN WE'RE DEFINITELY LOOKING AT CASH OPTIONS WE HAD THE OPTION TO

MAKE SOME ACTION HERE. >> IS THERE A SPECIFIC THIS ONE?

[01:00:11]

>> YOU JUST WANT TO DO CASH? UNLESS YOU ALL WANT TO TALK ABOUT -- UNLESS YOU WANT TO GET INTO THE TIMING OF WHEN THE CASH

IS. >> IF YOU WANT TO DO CASH, ALL OF A SUDDEN IT'S MOVING FROM OUR ACCOUNT TO THEIRS.

IF NOT, THEN WE NEED TO LOOK AT WE'RE DOING SAYING A FIVE MILLION NOW AND THEN WHATEVER THAT TWO AND A HALF, TWO AND A HALF OR THREE AND TWO. WHATEVER.

>> OUR FINANCE IS GOOD. GOOD.

>> YES, SIR. >> THE OTHER REVENUES WHERE IT SAYS INTEREST, THAT'S OUR ACCOUNT IS GETTING INTEREST FOR THE AMOUNT THAT WE HAVE IN THERE, RIGHT?

>> SO OKAY. >> SO IF WE GET RID OF FIVE MILLION TODAY, THEN THE INTEREST IS GOING TO DROP THAT WE'RE DRAWING IN, RIGHT. SO THE LONGER THEY HOLD ONTO IT UNTIL THOSE INVOICES COME, IN OUR INTEREST IS STILL HIGH THAT IT'S GAINING. SO I DON'T SEE ANY BENEFIT MOVING IT TODAY. IF WE'RE GOING TO CONTINUE TO GET THIS RETURN ON THIS INTEREST.

>> I THINK WE'VE SEEN A LOT OF DIFFERENT QUOTES AND PROPOSALS OVER THE YEARS FROM DIFFERENT CONTRACTORS, 50% UP FRONT IS NOT UNCOMMON. I WOULD CONSIDER OUT FRONT THE FIRST INVOICE. HALF IT ON THE FIRST INVOICE.

>> WE'RE NOT -- WE'RE NOT PAYING ANYTHING UP FRONT.

ALL OF OURS WILL BE -- >> I'M SAYING IF WE ARE THE PAYER AND YOU'RE THE PAYEE OF SORTS, RIGHT, THE FIRST INVOICE TO ME WOULD BE THAT DEPOSIT AND THAT WOULD ALLOW YOU TO KEEP GOING WITHOUT HAVING TO COME BACK HERE.

>> AS WE LOOK AT THE APPROPRIATE MOTION, IF WE WANT TO DO FIVE, IS IT JUST A YEAR WITHIN STARTING IN CERTAIN MONTHS OR HOW IS THE BEST WAY TO WORD THAT?

>> AT THE END OF THE DAY, IF YOU ALL WANT TO HOLD THE MONEY, THEN JUST TELL US YOU'RE PAYING CASH AND WE'RE GOING TO DO IT INVOICE

BY INVOICE. >> THAT'S WHAT MED DID.

>> THEY'RE COMMITTING THE AMOUNT AND HOLD THE INVOICE.

>> IF I'M HEARING WHAT YOU ALL ARE SAYING, YOU JUST WANT TO HOLD THE MONEY, YOU WANT TO EARN THE INTEREST.

YOU WANT TO PAY US WHEN THE BILL COMES IN, TELL US.

>> JUST DO THAT. >> HOW TO DEAL WITH MELISSA.

YOU WON'T HAVE TO TOUCH IT AGAIN SKROOCHLT ONCE WE HIT THAT 10

MILLION THRESHOLD, WE'RE DONE. >> IS THIS ONE PERSON TO PAY?

>> SHOULD BE A MONTHLY. I WOULD ANTICIPATE.

>> WHAT I DIDN'T WANT TO CREATE IS OVER ADMINISTRATIVE TURNS.

>> I THINK IT SHOULD BE ONCE A MONTH.

SOMETHING MIGHT HAPPEN. I DON'T THINK IT'S GOING TO BE ASTRONOMICAL. YOU ALL WILL NOT HAVE TO TAKE ANY MORE ACTION. IT'S GOING TO BE ADMINISTRATIVE

AT THIS POINT. >> WE'RE MOVING TO JUST DO A CASH ONLY. THEY'RE GOING TO INVOICE AS THEY

COME IN. >> IS THAT THE MOTION?

>> THAT WOULD BE THE MOTION. >> I THINK IT'S GOING TO BE

JUNE/JULY TIME. >> JULY TIMEFRAME.

>> I WOULD LIKE TO MAKE A MOTION TO APPROVE THE AMOUNT OF 10 MILLION DOLLARS TO THE CITY OF MIDLOTHIAN FOR HERITAGE PARK

CASH ONLY OPTION. >> SECOND.

>> ALL RIGHT. GOT A MOTION AND ESTABLISHING.

ALL IN FAVOR, PLEASE SAY AYE. THANK YOU, ANNE.

THANK YOU ALL. >> THANK YOU FOR YOUR TIME.

[2026-061 Receive Executive Director update and direct staff as necessary • Economic/Community Development week promotional costs • Promotional Grant budget • Communication Plan: Implementation quotes & Webpage costs]

THANK YOU SO MUCH. >> ALL RIGHT.

NEXT UP MOVING TO 2026-061, RECEIVE EXECUTIVE DIRECTOR UPDATE AND DIRECT STAFF AS NECESSARY.

>> OUR ECONOMIC COMMUNITY DEVELOPMENT WEEK, KYLE CALLED ME AND SAID, HEY, IT'S ECONOMIC DEVELOPMENT WEEK, MAY 4TH AND WE WOULD LIKE TO GET THE WORD OUT TO OUR EMPLOYEES.

THEY'RE GOING CREATE A COUPON AND ELIZABETH AND I HAVE BEEN WORKING TO GET ALL THE STAFF WITHIN THE CITY, THOSE NUMBERS, AND SO THIS COUPON WILL BE ABLE TO USE IT DOWNTOWN OR SWEET SHOP SOMEWHERE, I THINK SCOOPS IS GOING TO PARTICIPATE, THINGS LIKE THAT. SO WE'LL HAND THOSE OUT TO THE EMPLOYEES ON MAY 1ST OR THE 4TH. AND TELL THEM A LITTLE BIT ABOUT ECONOMIC DEVELOPMENT AND THEY'LL BE ABLE TO GET ON AND USE THOSE COUPONS. SO WE'RE PRETTY MUCH THE END OF DOING THAT. THE TOTAL COST TO US WE'RE GOING TO SPLIT IT. IT SHOULD BE BETWEEN 2,000 AND $2500. IT DOES KIND OF COINCIDE WITH EMPLOYEE APPRECIATION WEEK TOO SO IT WAS A WIN-WIN FOR EVERYBODY. ONE THING THAT WE'RE ASKING IS

[01:05:04]

IF BOARD MEMBERS WANT TO COME AT THESE PREDESIGNATED TIMES AND HELP STAFF PASS THESE OUT, BECAUSE THEY'LL BE GOING AROUND TO ALL THE DIFFERENT LOCATIONS. AND I HAVE A COUPLE OF DIFFERENT SHIFTS IN TIMES BECAUSE OBVIOUSLY WE CAN'T DO IT ALL AT THE SAME TIME. FIRE AND POLICE HAVE A BIG DRILL ON THE FIRST SO THEY'RE GOING TO BE ON THE 4TH.

WHAT I CAN DO IS I CAN E-MAIL YOU.

ELIZABETH AND I WILL WORK THROUGH THIS AND LET YOU KNOW WHAT SHIFTS ARE AVAILABLE AND THEN YOU ALL CAN LET US KNOW IF YOU WANT TO PARTAKE AT THAT. THIRTY MINUTES MAYBE AN HOUR.

WE'RE GOING TO GO IN AND TELL THEM THANK YOU AND TALK ABOUT

TYPE A AND TYPE B. >> IS THIS FOR THE EMPLOYEES OR THE BUSINESS OWNERS OF MIDLOTHIAN?

>> IT'S FOR THE EMPLOYEES OF THE CITY.

IT'S ALMOST 400 PEOPLE? YES.