* 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. BECAUSE IT'S [00:00:01] A LITTLE DIFFICULT TO HEAR IN THE VIDEO. [Call to Order] ALL RIGHT. IT IS SIX O'CLOCK. WE'RE GONNA CALL THIS BOARD MEETING OF THE AUBREY MDD TO ORDER, DETERMINE IF THERE IS A QUORUM, IF A QUORUM IS PRESENT. HOLLY DREW. HERE. MIKE BROWNING. HERE. AARON BOGAR. HERE. BROOKS STOY. HERE. BRENDA BLACKBURN IS ABSENT. TODD DAVIS. HERE. TIM HYMAN HERE. ALL RIGHT. THANK YOU. WE WILL NOW STAND FOR THE INVOCATION AND PLEDGE OF ALLEGIANCE. OKAY? YES, WE CAN. LET'S BOW OUR HEADS. WE'RE THANKFUL FOR THIS DAY. FATHER, WE'RE THANKFUL FOR YOUR MANY BLESSINGS FOR THE SPRINGTIME WEATHER. PRAY THAT YOU WOULD, UH, JUST BE WITH US THIS EVENING AS WE GO THROUGH OUR DUTIES, UH, SERVING ON THIS BOARD TO SERVE THE RESIDENTS AND CONSTITUENTS OF AUBREY. AND I PRAY THAT YOU WOULD GIVE US WISDOM AND GUIDANCE AND DIRECTION IN EVERYTHING THAT WE DO, AND THAT WE DO IT WITH HUMBLE SPIRITS. AND IT'S IN JESUS NAME WE PRAY. AMEN. AMEN. P, CONGRATULATIONS TO THE FLAG OF THE UNITED, UNITED STATES OF AMERICA, THE REPUBLIC FOR WHICH IT STANDS. NATION. NATION UNDERGONE INDIVIDUAL WITH LIBERTY AND JUSTICE FOR HONOR THE TEXAS CRIME IRE TO BE TEXAS. ONE STATE UNDERGONE ONE AN IN. DOES [Community Announcements] ANYONE WORK ONTO COMMUNITY ANNOUNCEMENTS? DOES ANYONE HAVE ANY COMMUNI OR YEAH, ANY COMMUNITY ANNOUNCEMENTS? SORRY. NO. DO YOU WANT TO ANNOUNCE THE PUBLIC SCHOOL FOUNDATION? I DIDN'T. YEAH, WE, ONCE AGAIN, THE AUBREY EDUCATION FOUNDATION GALA IS COMING UP APRIL 5TH. WE ARE GETTING PRETTY CLOSE TO HAVING NO TICKETS, SO WE'RE PRETTY EXCITED ABOUT THAT. UM, BUT IF YOU WANNA COME GET YOUR TICKETS NOW, BEFORE THEY RUN OUT, WE'RE EXCITED. ERIN IS THE COMMITTEE CHAIR FOR THAT EVENT. SO SHE'S BEEN PLANNING AWAY. SHE HAS US SOME CIGAR ROLLERS, SOME FLAMENCO DANCERS. THIS IS TRUE. WE'RE GONNA HAVE A GOOD NIGHT. SO COME ON AND JOIN US IF Y'ALL WANT. THIS IS ALL FACTUAL INFORMATION. EVERYONE. . VERY GOOD. GREAT CLASS. IT IS FOR THE KIDS. ANYBODY HAVE ANYTHING ELSE? OKAY. OH, THERE'S A EASTER EGG HUNT, BUT THAT'S NEXT ONE THOUGH. EASTER EGG HUNT DOWNTOWN OPERATES THE EASTER EGG HUNT, AND I'M NOT QUITE SURE. I THINK IT'S APRIL 12TH. APRIL, IS THAT RIGHT? BAILEY? YES. AWESOME. AND THE FARMER'S MARKET STARTS APRIL 5TH. WOOHOO. AND THE VETERANS PARK LOCATION UNTIL THEY GET, UH, WE HAVE A CHAMBER LUNCHEON. OKAY. UNITY CHAMBER LUNCHEON THIS WEDNESDAY AT W OKAY. 1130. I'M GLAD YOU REMINDED US OF THAT . I KNOW IT'S HERE. WE JUST HAD ONE. EVERYONE OFF, BUT IT'S LIKE WE JUST HAD ONE. WE DID. OKAY. ALL RIGHT. MOVING ON TO CITIZEN INPUT. ARE THERE ANY CITIZENS PRESENT WHO WISH TO ADDRESS THE BOARD? OKAY. [Consent Items] CONSENT ITEMS. ITEMS PLACED ON CONSENT AGENDA ARE CONSIDERED ROUTINE IN NATURE AND NON-CONTROVERSIAL. THE CONSENT AGENDA CAN BE ACTED UPON IN ONE MOTION. ITEMS MAY BE REMOVED FOR THE CONSENT AGENDA BY THE REQUEST OF COUNSEL, BOARD MEMBERS, OR STAFF. CONSIDERATION. ACTION ON THE FOLLOWING APPROVED MINUTES OF THE FEBRUARY 11TH, 2025 MEETING APPROVED MINUTES OF THE 2025 MONTHLY FINANCIAL REPORT AND APPROVE SIGNED IMPROVEMENT GRANT POLICY. THERE IS ONE SLIGHT CHANGE TO THE FEBRUARY MINUTES THAT CHRISTINE IS GONNA EXPLAIN TO US REAL QUICK. YES. I JUST CHANGED FROM WHAT YOU RECEIVED AND WHAT GOT POSTED. UH, CAUGHT. JUST A THING THAT NEEDED TO BE FIXED. AND THAT WAS OUR SECTIONS LISTINGS, UM, ON THE EXECUTIVE SESSION PORTION OF THE AGENDA OR MINUTES. SO I ADDED THOSE. BUT EVERYTHING ELSE, UNLESS Y'ALL HAVE A CORRECTION, YOU CAUGHT SHOULD BE GOOD. I'M NOT SURE. WE'RE NOT SEEING THE SCREENS ON OUR SCREENS HERE ON THE DIE. OH, I, MM, SHE'S FIXING IT. . OKAY. . BUT GOOD CALL BECAUSE I WAS JUST, DIDN'T EVEN NOTICE THAT MYSELF. OKAY. SO, UM, I JUST ADDED THOSE SECTIONS AND VERY GOOD. THANK YOU. EVERYTHING ELSE LOOK GOOD? ALL RIGHT. DOES ANYONE WISH TO REMOVE AN ITEM FROM THE CONSENT AGENDA? AGENDA? OR DO I HAVE A MOTION TO APPROVE THE CONSENT AGENDA? I MAKING, I MAKE A MOTION TO APPROVE THE CONSENT AGENDA. I'LL [00:05:01] SECOND. I HAVE A MOTION BY TODD, A SECOND BY AARON. ALL THOSE IN FAVOR? ALL RIGHT. CONSENT AGENDA PASSES. SIX TO ZERO. [New Business] OKAY. MOVING ON TO NEW BUSINESS. ALL RIGHT. CONSIDER AND TAKE ACTION ON PROJECT PLAN FOR FUTURE OPPORTUNISTIC PROJECTS OF THE AUBREY MDD. CHRISTINE'S GOING TO PRESENT THE PROJECT PLAN WITH OUR FINANCE DIRECTOR, MR. MIKE ENGLISH. YES. THANK YOU. UM, SO WE HAVE AN ITEM ON THE AGENDA FOR OUR PROJECT PLAN CONSIDERATION, AND THAT'S OUR STAFF REPORT. IT'S THE, IT'S IN THE PACKET. IT'S IN THE, UH, AGENDA PACKET FOLDER. THAT IS PAGE 39, I BELIEVE. OR 36, I'M SORRY, NOT 39 . SORRY. 36. OKAY. SO, UM, IF YOU ALL WILL TAKE A LOOK AT THAT. I HOPE YOU HAD A CHANCE TO REVIEW IT, BUT THIS IS BASICALLY EVERYTHING WE'VE BEEN TALKING ABOUT SINCE WE HAD THIS STRATEGIC PLAN PRESENTED. AS YOU RECALL, IN THE STRATEGIC PLAN, UH, THAT WAS ACCEPTED AND APPROVED ON NOVEMBER 19TH. IT'S A FIVE YEAR PLAN WITH SEVERAL GOALS TO ATTRACT, RETAIN, AND DEVELOP BUSINESSES, AS WELL AS DEVELOP AND ENHANCE NEW AND EXISTING COMMERCIAL DISTRICTS AND PROPERTIES. THESE MAJOR GOALS WILL REQUIRE US TO PURCHASE LAND PROPERTY, ENTER PUBLIC-PRIVATE PARTNERSHIPS, BUILD OR IMPROVE EXISTING MDD PROPERTIES. AND THESE AREAS WHERE WE NEED TO FOCUS ARE ON PURCHASING AND RENOVATING BUILDINGS IN THE DOWNTOWN DISTRICT, UM, WITH, WE NEED TO EXTEND INFRASTRUCTURE IMPROVEMENTS OR EXPAND COMMERCIAL DEVELOPMENT IN THE CITY OR ETJ FOR COMMERCIAL BUSINESS. NOW, IF WE DO THAT, UM, REMEMBER WE HAVE SOME OBLIGATIONS WE HAVE TO MEET PER THE STATUTE. SO ANYTHING WE, WE LOOK AT WILL BE REVIEWED AND APPROVED FOR THAT. UM, BUT THIS WOULD BE WITH THE GOAL TO RETAIN OR ATTRACT NEW BUSINESS AND RETAIN EXISTING BUSINESS COMMERCIAL DEVELOPMENT ENHANCEMENTS, IMPROVEMENTS IN THIS ETJ OR THE CITY. AGAIN, JUST ANYTHING WE CAN DO TO RETAIN OR ATTRACT. UM, IF WE DO LOOK AT BUILDING ANY NEW CONSTRUCTION FOR, SAY, AN INDUSTRIAL FACILITY OR BUSINESS PARK, WE HAVE TO KEEP IN MIND, WE'VE GOTTA DO THE PRIMARY JOBS, UM, STATUTE AND FOLLOW THAT. BUT WE ALSO NEED TO CONSIDER NEW CONSTRUCTION DEVELOPMENT OR IMPROVEMENT ON EXISTING MDD PROPERTY, UM, FOR MEETING SOME OF THESE GOALS THAT ARE IN THE STRATEGIC PLAN. SO WE LOOKED AT ALL OF THESE. THERE ARE SEVERAL OPPORTUNITIES, BUT AGAIN, FUTURE OPPORTUNITIES ARE GONNA COME UP. SOME OF THESE OPPORTUNITIES MAY OR MAY NOT HAPPEN BECAUSE AS YOU ALL KNOW, IT'S JUST ALL ABOUT WHAT HAPPENS TO COME UP FOR SALE OR WHAT BUILDINGS BECOME VACANT. SO LOOKING AT THIS PROJECT PLAN AND JUST REVIEWING ESTIMATED COSTS, WE DO ESTIMATE NEEDING A $5 MILLION LOAN THAT WOULD BE AVAILABLE TO US IF WE WERE TO FIND OPPORTUNITIES. UM, SO I'M GONNA LET OUR FINANCE DIRECTOR, MIKE ENGLISH, EXPLAIN THE REST . HE HAS, DOES FAR BETTER JOB THAN I DO, AND HE CAN ANSWER ANY QUESTIONS YOU MAY HAVE. BUT HE'S GONNA POP UP ON THE SCREEN. UM, SOME INFORMATION WE DID RECEIVE FROM HILLTOP SECURITIES REGARDING TERMS AND ALL THAT FUN STUFF. HELLO, MDD BOARD. HELLO. GREAT. SO, UH, TONIGHT I'M GONNA COVER JUST A COUPLE THINGS. I WANNA TALK A LITTLE BIT ABOUT BUDGET. I'LL MAKE THAT VERY SHORT. TALK A LITTLE BIT ABOUT CASH, AND THEN GO INTO THE LOAN AND LOOK AT THE ANNUAL COST OF THAT LOAN AND THE FEES THAT ARE ASSOCIATED WITH IT TO KIND OF GIVE US AN IDEA. UM, THERE SEEMS TO BE A LOT OF OPPORTUNITIES IN THE FUTURE OUT THERE. AND, UH, HAVING, UH, AVAILABLE CASH TO ACT ON THOSE OPPORTUNITIES WILL BE A GREAT HELP TO YOU. I THINK NOW IS A VERY GOOD TIME FINANCIALLY FOR YOU TO BE LOOKING AT THIS. UH, INTEREST RATES HAVE COME DOWN A LITTLE BIT. UH, THERE'S SOME EXPECTATION THAT THEY'LL COME DOWN SOME MORE OVER THE NEXT SIX MONTHS. BUT AT ANY RATE, LET ME GIVE YOU A LITTLE SNAPSHOT OF WHERE YOU'RE AT. I THINK YOU KNOW MOST OF THIS, BUT I DID WANNA POINT OUT IN THE BUDGET. SO OUR EXISTING BUDGET FOR FISCAL 25, WE HAVE REVENUE OF 1.1 MILLION IN EXPENSE OF 783,000, RESULTING IN A, A BUDGETED SURPLUS OF, UH, ALMOST 320,000. BUT INCLUDED IN THE EXPENSE NUMBER ARE THREE ITEMS EACH AT 150,000, EVEN. THE [00:10:01] FIRST ONE IS A PROPERTY PURCHASE. THE SECOND ONE IS A GRANT MATCH, AND THE THIRD IS ECONOMIC INCENTIVES. THOSE ARE AVAILABLE AT YOUR DISCRETION, SO THEY DON'T HAVE TO BE USED FOR THOSE. YOU COULD REPURPOSE THOSE IF YOU WANTED TO. SO THAT IF YOU TAKE THAT 450,000 AND ADD IT TO THE SURPLUS, IT BECOMES 770,000 SURPLUS. SO JUST KIND OF KEEP THAT IN THE BACK OF YOUR MIND AS WE LOOK AT THE COST OF THE LOAN. UM, WANTED TO GIVE YOU A QUICK UPDATE ON CASH. I LOOKED AT IT TODAY. MDD CASH IS $3,400,000. SO KEEP THAT IN THE BACK OF YOUR MIND TOO. SO GETTING ONTO THE LOAN ITSELF, UH, HOPEFULLY YOU HAVE IT ON YOUR SCREENS 'CAUSE IT'S, IT'S PRETTY SMALL. THIS WAS PUT TOGETHER FOR US BY HILLTOP SECURITIES AND THEY JAMMED IT ALL ON ONE SHEET. SO YOU HAVE A 10 YEAR BOX, A 15 YEAR BOX, AND A 20 YEAR BOX. THE, UH, THE KEYS ON THESE, IF YOU LOOK, UH, KIND OF IN THE MIDDLE OF THE TOP BOX FOR THE 10 YEAR LOAN IS 5.25%. THAT'S THEIR ESTIMATE. UH, IT'S GONNA BE WRONG, BUT SOMEWHERE IN THE BALLPARK FOR A 15 YEAR LOAN. THEY, YOU CAN SEE THEY, THEY PUT IT UP 25 BASIS POINTS AND FOR THE 20 YEAR THEY HAD ANOTHER 25. SO THIS IS JUST THEIR ESTIMATE. UH, AND THEY LIVE IN THIS SPACE ALL THE TIME. SO IT'S PROBABLY A PRETTY GOOD ESTIMATE. SO IF YOU LOOK AT THE, THE NEXT NUMBER I WANT YOU TO LOOK AT, SO IN THE 10 YEAR BOX, IF YOU CAN READ IT, THERE'S A NUMBER THERE. AVERAGE ANNUAL DEBT SERVICE. SO THAT'S AN IMPORTANT NUMBER FOR US BECAUSE THAT'S WHAT WE HAVE TO SUPPORT. ON THE 10 YEAR LOAN, IT WOULD BE 625,000. ON THE 15 YEAR LOAN, IT WOULD BE 474,000. AND ON THE 20 YEAR IT WOULD BE 405,000. SO WE JUST TALKED ABOUT HAVING 770,000 AVAILABLE. WE COULD AFFORD THE 6 25. BUT IF YOU WERE TO ASK ME TODAY, WHICH ONE WOULD I RECOMMEND, I'D SAY TAKE THE ONE IN THE MIDDLE. THE INTEREST RATE'S, UH, 5.5, AND THE ANNUAL AVERAGE ANNUAL DEBT SERVICE IS 474,000. SO THE, THE STORY THAT I'M TRYING TO GET ACROSS TO YOU IS THAT WHEN I SAY NOW IS A GOOD TIME TO DO THIS, NOT ONLY DO YOU HAVE CASH SURPLUS, YOU'RE GENERATING CASH SURPLUS EVERY MONTH, AND YOU'RE ALSO, UM, HAVE REVENUE THAT SHOULD BE GROWING. RIGHT NOW WE'RE DOING CLOSE TO A MILLION DOLLARS A YEAR IN SALES TAX REVENUE THAT SHOULD CONTINUE TO GROW. IT'S GROWN IN THE PAST AND SHOULD CONTINUE TO GROW. SO THAT, UH, THAT GIVES YOU SOME, UH, SOME VERY GOOD DOWNSIDE PROTECTION. THE LENDERS ARE GONNA LOOK AT THAT VERY FAVORABLY BECAUSE IT IS A GUARANTEED REVENUE STREAM, CASH STREAM. UH, SO THAT SHOULD ALL BE VERY HELPFUL AS YOU CONSIDER THESE VARIOUS LOANS. NOW, THIS WOULD BE OUR FIRST LOAN THAT I'M AWARE OF WITH THE MDD. WE WOULD WANT. I, AGAIN, I WOULD RECOMMEND THAT WE HAVE OUR BOND COUNCIL LOOK AT IT, EVEN IF IT'S NOT A BOND. BUT SHE'S VERY FAMILIAR WITH WHAT THE STATE ALLOWS AND DOESN'T ALLOW. SHE'S VERY FAMILIAR WITH, WITH YOUR, UH, YOUR DOCUMENTS AND WHAT YOU'RE ALLOWED TO DO OR NOT DO. SO THAT I'M GETTING INTO THE FEES NOW. SO, UH, DEPENDING ON WHAT TYPE OF OBLIGATION THAT WE DECIDE ON, THE MOST EXPENSIVE WOULD BE A STATE OF TEXAS ATTORNEY GENERAL APPROVED QUALIFIED LOAN BOND. WE WOULD PAY THEM FOR THE AG 5,000 FOR THAT. WE WOULD HAVE TO PAY A BOND COUNSEL SOMEWHERE BETWEEN SEVEN AND $10,000 TO, UH, ISSUE AN OPINION ON THAT LOAN. UH, AND THEN WE'D ALSO HAVE TO PAY WHO, WHOEVER WE'RE BORROWING THE MONEY FROM, BE IT A BANK OR OTHER INSTITUTION, THEY'RE, THEY'RE GONNA BE SOMEWHERE BETWEEN FIVE AND $10,000. SO, ON THE HIGH SIDE, I WROTE IT SOMEWHERE, IT'S SOMEWHERE AROUND $20,000 OF FEES, LOCI 10,000. SO AS YOU'RE THINKING ABOUT THIS IN THE FUTURE, YOU'LL WANNA LOOK AT THAT. AND WE, WE WANNA ALSO, AS, AS WE GET FURTHER INTO THIS, WE WANNA UNDERSTAND WHAT WE'RE ALLOWED TO DO AND NOT DO, AND THEN PICK THE OPTION THAT'S BEST FOR US. FOR INSTANCE, WE COULD DO A BOND AND DO A PRIVATE PLACEMENT WITH A SINGLE BANK. THAT WOULD BE THE SIMPLEST, LEAST EXPENSIVE. I DON'T KNOW YET IF WE ARE ALLOWED TO DO A LINE OF CREDIT BECAUSE WE DON'T HAVE A SPECIFIC PROJECT OR GROUP OF PROJECTS, THAT WOULD KIND OF BE A GOOD OPTION FOR US. IF WE'RE ALLOWED TO DO THAT, IT'D BE A LITTLE CHEAPER. UM, BUT AGAIN, I DIDN'T MENTION THAT OUR CURRENT CASH IS EARNING ABOUT 4.5% RETURN. SO TODAY, THE NET RETURN, THE NET EXPENSE WOULD BE 1%. MM-HMM . UM, NOT BAD. SO IF IT SITS THERE FOR A WHILE, [00:15:01] IT'S A, IT'S A PRETTY CHEAP WAY TO GO. WE WOULD HAVE TO, UH, UPFRONT THAT 15 TO 20,000. BUT AGAIN, PLENTY OF CASH RESERVES, PLENTY OF BUDGET, SPACE SURPLUS TO DO THAT. SO, UM, FROM A STANDPOINT OF FINANCIAL DECISION MAKING, THERE'S VARIOUS OPTIONS, ALL OF WHICH ARE NOT BAD, A LOT OF WHICH ARE, ARE GREAT. SO THAT'S WHY I SAY WE'RE IN A GREAT POSITION TO DO THAT. SO, UM, THIS KIND OF GIVES YOU A, UH, MAYBE A LITTLE FOUNDATIONAL INFORMATION ON, ON WHAT WE'RE, YOU KNOW, WHERE WE'RE AT. UM, I DID SPEAK TO OUR FINANCIAL ADVISOR FROM HILLTOP, JIM SABONI, I THINK YOU GUYS HAVE MET HIM. MM-HMM . YES. UH, HE'S VERY BULLISH ON US BORROWING MONEY, , AND HE HAS VOLUNTEERED TO ASSIST US WITH NO COST. OH, NICE. SO, UH, WE'LL, UH, UH, WE'LL TAKE ADVANTAGE OF THAT WHEN WE GET DOWN. AND HE'S ALSO VOLUNTEERED TO COME OUT AND TALK WITH Y'ALL. SO WHEN WE GET TO THE NITTY GRITTY, UH, WE'LL, WE'LL GET HIM TO COME OUT AND, UH, TALK TO US ABOUT THE TERMS. WE'VE ALSO SPOKEN TO, UH, A LOCAL BANK AND THEY'RE ALSO WILLING TO COME OUT AND TALK TO US ABOUT SOME OF THE SPECIFICS OF A LOAN. SO EVERYBODY WANTS TO LEND YOU MONEY, , AND FOR GOOD REASON. 'CAUSE YOU DON'T, YOU KNOW, YOU'VE GOT THE GUARANTEED REVENUE, YOU'VE GOT CASH SURPLUSES, AND YOU'RE GENERATING CASH EVERY MONTH. SO IN GOOD SHAPE. COOL. OKAY. . YEAH, I DON'T KNOW IF I, I TRY TO KEEP AN EYE 'CAUSE I AM A FINANCIAL GUY. ON THE DOWNSIDE, UH, THERE'S ALWAYS DOWNSIDE RISK, BUT I THINK IT'S MORE OF A MACROECONOMIC RISK THAT WE FACE. ALL BUSINESSES, ALL BORROWERS FACE IT. IF, YOU KNOW, IF YOU KNOW WHAT HITS THE FAN, THEN EVERYBODY, ALL THE SHIPS ARE GONNA SINK. SO, BUT I DON'T KNOW OF ANY SPECIFICS. TO US, OUR SALES TAX REVENUE IS CONSISTENT. IT'S BEEN GROWING. UM, WE ARE HOPEFULLY GETTING BETTER AT TRACKING SOME OF THAT. UH, BUT, UH, YEAH, I, I JUST, I DON'T REALLY HAVE ANY MAJOR DOWNSIDES THAT I WOULD ASK YOU TO LOOK AT. UM, THE FEES THAT I, I THINK THE, THE, MY RECOMMENDATION TO HAVE OUR BOND COUNCIL LOOK AT THAT I THINK IS A GOOD ONE. UH, IT'S PROBABLY A GOOD USE OF OUR CASH TO DO THAT. UM, BUT BEYOND THAT, THERE'S NOT A WHOLE LOT OF VARIABLES THAT WE HAVE TO WORRY ABOUT. PERFECT. A QUESTION MM-HMM . UM, FOR INSTANCE, IF WE WERE TO ACQUIRE THIS MIDDLE OPTION HERE, THE 15 YEAR LOAN, WHAT OPPORTUNITIES ARE THERE DOWN THE ROAD TO KIND OF REPOSITION EITHER WITH THIS PRODUCT OR RECASTING OR IF, YOU KNOW, ONCE OUR POSITION CHANGES, BUT INCREASE CASH AND REVENUE, WE DON'T WANT TO SUMMIT THAT ADDITIONAL $2 MILLION FOR TOTAL THAT SERVICE ALL THE WAY TO MATURITY. ARE THERE WAYS TO, THERE ARE, THERE'S THIS PRODUCT OR THERE ARE, THERE'S, UH, REFUNDING OPTIONS THAT WE COULD DO. SO WE COULD TAKE A BIGGER, BETTER BOND AND BORROW 20 MILLION. AND PART OF THAT WOULD BE TO PAY OFF WHATEVER'S OWED ON THIS. IT'S LIKE, UH, IT'S VERY SIMILAR TO CONSUMER LENDING. UM, BUT YOU'RE RIGHT THAT, I MEAN, THAT SALES TAX NUMBER COULD GO FROM 1 MILLION TO 2 MILLION IN A PRETTY SHORT PERIOD OF TIME AND MAYBE MORE, YOU KNOW, IN THREE YEARS FROM NOW. SO YEAH, WE WOULD DEFINITELY WANT TO HAVE, UH, A PRODUCT THAT DOES NOT PENALIZE US. OKAY. SO WE, WE WOULD DEFINITELY DO THAT. AND THERE ARE VARIOUS, YOU KNOW, YOU CAN, YOU CAN CALL THESE BONDS, YOU GET VARIOUS TIMES AND THERE'S COSTS INVOLVED AND THINGS LIKE THAT. BUT THAT'S VERY IMPORTANT TOO. I THINK WE SHOULD, UH, GET SOMETHING THAT GIVES US FLEXIBILITY BECAUSE THERE'S SO MUCH UNCERTAINTY MM-HMM . BUT MOST OF IT IS WITH GROWTH. RIGHT. WE JUST DON'T KNOW HOW FAST WE'RE GONNA GROW AND HOW SOON. UH, BUT THERE ARE THINGS ON THE IMMEDIATE HORIZON THAT ARE GONNA AFFECT OUR BORROWING. SO, AND, AND THAT, THAT'S THE OTHER GOOD REASON HAVING JIM WORK WITH US. HE KNOWS ALL THAT. YEAH. 'CAUSE HE IS WORKED WITH THE CITY AND SO HE KNOWS WHAT DEVELOPMENTS ARE IN PROCESS, WHICH ONES ARE IN THE PIPELINE, ALL THAT GOOD STUFF. SO, SO WE'LL DEFINITELY DO THAT. AWESOME. YEAH. THIS MIGHT BE THE ONLY VIABLE OPTION AT THIS POINT. 'CAUSE I WAS THINKING ABOUT THIS LAST MEETING AND, AND WE COULDN'T DO IT, IS, YOU KNOW, PROPERTIES WILL NOT COME UP ALL AT ONCE. RIGHT. THEY'RE GOING TO ONE OFF AND ONE OFF AND ONE OFF AND WE COULDN'T DO A BOND UNLESS WE HAD ALL OF THEM IN THERE. RIGHT. SO THIS GIVES US THE OPPORTUNITY TO KIND OF ONE OFF 'EM. BUT TO YOUR EARLIER POINT ABOUT LINE OF CREDIT, AND IF THERE WAS A WAY, YOU KNOW, ONCE YOU HAVE ALL THESE PROPERTIES, IF YOU COULD SOMEHOW RELOAD THAT AS A BOND, YOU KNOW, SOMEHOW USE THAT AS THE COLLATERAL 'CAUSE YOU, BECAUSE IT HAS TO BE A VERY SPECIFIC PURPOSE, RIGHT. BECAUSE THEN YOU COULD RELOAD THIS AND TERM OUT WHAT WE ALREADY HAD AND NOW YOU'VE GOT MORE FLEXIBILITY. BUT I COULDN'T SEE A WAY THAT WE COULD SOLVE THE PROBLEM OF NOT BEING ABLE TO AROUND THEM. YOU'RE RIGHT. PUNCH THEM ALL AT ONE POINT. YEAH. IS, AM I RIGHT THAT THERE'S REALLY NO WAY TO DO IT OTHER THAN JUST KIND OF RELOADING THIS EVERY TIME WE GET ENOUGH CASH TO PAY IT DOWN BECAUSE WE WON'T HAVE FIVE PROPERTIES ALL AT ONCE IN THEORY OR TWO OR WHATEVER. WELL, THERE, [00:20:01] THERE MAY BE, UH, WHEN, WHEN I TALKED TO, I TALKED TO OUR BOND COUNCIL ABOUT THIS AND SHE SAYS SHE HAS SEEN CITIES, MDD OR EDCS, WHATEVER, UH, HAVE SHE CONSIDERS THEM TO BE, UH, SHE DIDN'T CALL 'EM NON-QUALIFIED, BUT, UH, ON THE KIND OF THE BLEEDING EDGE OF, UH, PRODUCTS THAT, THAT CITIES CAN USE. SO THERE MAY BE, THERE MAY BE SOMETHING LIKE THAT. THE CLEARER WE ARE ON WHAT WE NEED IT FOR, THE BETTER. AND THAT'S YOUR POINT. YEAH. WE CAN'T BE, WE JUST DON'T KNOW YET. BUT WE DO KNOW, LIKE YOU SAID, ERIC, WE'RE GONNA HAVE GROWTH. SO WE HAVE TO BE ABLE TO BE ADAPTABLE TO THAT. SO WHATEVER WE DO, WE'RE GONNA HAVE TO BE ADAPTABLE TO THE GROWTH AND NOT PENALIZE US TO A MAJOR MAJOR DEGREE. WE MAY HAVE TO PAY A LITTLE BIT MORE UPFRONT FOR THAT PRODUCT, BUT THEN AGAIN, IT'LL SAVE US WHEN WE, WHEN THE INEVITABLE HAPPENS AND GROWTH IS INEVITABLE AROUND HERE. SO, AND I JUST WANNA ADD THAT THERE IS A PROCESS WE WILL HAVE TO FOLLOW. WE'RE STILL WORKING THROUGH SOME OF THAT BECAUSE WE ARE DIFFERENT THAN AN EDC BECAUSE WE ARE AN MDD, WHICH TYPICALLY M DDS HAVE A LITTLE MORE FLEXIBILITY THAN EDCS, BUT IT'S, WE'RE CHAPTER 3 77, SO IT'S NOT CHAPTER THREE 80. SO IT'S A DIFFERENT STATUTE. AND SO WE'RE WORKING VERY CLOSELY WITH THE ATTORNEYS ON THAT. UM, SO WHEN WE, WE GET MORE, YOU KNOW, THE PROCESS WILL, UM, NEED TO BE LISTED OUT AND AND DESCRIBED PRETTY CLEARLY FOR EVERYBODY, I THINK FOR ALL OF US TO UNDERSTAND, UM, AS WE GO FORWARD. AND THAT IF YOU SCROLL DOWN RIGHT, THAT PROCESS IS NOT THAT IT'S SIMILAR, CORRECT. SIMILAR, BUT THERE WE HAVE DIFFERENT, THERE RESOLUTIONS WOULD BE DIFFERENT. SO THERE'S, THERE'S DIFFERENT PROCESSES, BUT WE'RE GONNA GET THAT FOR Y'ALL. UM, AND WE'D COME BACK TO Y'ALL WITH THOSE PROCESSES AND HELP GUIDE THAT. FOR SURE. FOR SURE. BUT, UH, WHEN HE, WHEN MIKE REFERRED TO US TALKING TO BOND COUNCIL, WE'VE WE'VE HAD A FEW CONVERSATIONS WHERE WE'RE TRYING TO, WE'RE IRONING OUT ALL THE, THE PROCESS THAT HAS TO TAKE PLACE. BUT THE MAIN THING IS, UM, FOR US TO MOVE FORWARD, WE, WE NEED TO BE DECISIVE ON THE PROJECT PLAN. AND, AND, UM, THAT HELP, THAT WILL HELP A LOT WITH WHAT MIKE SAID AS WE DESCRIBE WHAT WE'RE DOING THIS FOR, WHAT THE TIMELINE LOOK LIKE. UM, SOME OF THESE TAKE 90 DAYS TO REVIEW IF, IF WE HAVE TO HAVE IT REVIEWED BY AG AND IF THERE'S ALL THESE VARIABLES IN THERE. SO THAT'S WHY I THINK IF WE CAN GO AHEAD AND, YOU KNOW, WHATEVER Y'ALL DECIDE AFTER THAT WE'LL GET STARTED ON WORKING THROUGH THE PROCESS AND REPORT BACK WITH ANY ADDITIONAL DECISIONS THAT MAY HAVE TO BE MADE. BUT IF WE, I MEAN, IF WE HAD A LOAN AT, FROM A BANK, I MEAN, HE'S JUST USING A GENERIC, YOU KNOW, LET'S JUST CALL IT A GENERIC BANK FINANCIAL INSTITUTION. IF WE HAD THE FIVE ONCE WE GOT THAT, YES, YOU'RE GOOD FOR FIVE, WE DON'T NEED ANOTHER 90 DAYS TO GET EVERYTHING APPROVED BECAUSE THAT'S FOR A MUNICIPAL BOND IS ISSUE. JUST USE THIS. NO, ONCE WE APPROVED FOR THE FIVE, YEAH, WE'RE GOOD. WE'RE THAT, THAT AGAIN IS THE TIMELINE IS IMPORTANT BECAUSE ONCE WE'RE APPROVED FOR THE FIVE, THEN WE'RE ABLE TO START IMPLEMENTING SOME OF THAT PLAN. YEAH. SO IT JUST, THE APPROVAL PROCESS HAS TO HAPPEN FIRST. AND THAT'S WHAT'RE THE PUBLIC HEARINGS AND YOU GOTTA GO THROUGH THAT. YEAH, WE'VE GOTTA WORK THROUGH THOSE STEPS. BUT IT'S STILL QUICKER THAN IF YOU DID A BOND THOUGH. THE OTHER THING THAT WAS ENCOURAGING THOUGH, IS IF YOU EVENTUALLY DO TERM IT OUT IN A MUNICIPAL BOND FORM, ONE OF MY CONCERNS WAS SUCH A SMALL AMOUNT, $5 MILLION OR $3 MILLION, IT'D BE REALLY HARD TO PLACE WITH INSTITUTIONS. BUT IF THERE ARE BANKS WILLING TO DO AN ALL IN PRIVATE PLACEMENT, THAT'S ALSO ALSO CHEAPER FOR US BECAUSE YOU DON'T HAVE TO ENTICE A BUNCH OF PEOPLE WITH AN EXTRA INTEREST RATE. RIGHT. SO THAT IS GOOD NEWS. ANOTHER PIECE OF GOOD NEWS. RIGHT. AND, UH, THE, THE MUNI BONDS, THE ONES THAT WE ISSUE FOR THE CITY ARE, UH, INCOME TAX FREE TO THE PURCHASERS OF THOSE BONDS, THE THIS OBLIGATION WOULD BE TAXABLE. MM-HMM . SO THAT'S WHY WE PAY A LITTLE BIT HIGHER INTEREST RATE. IT'S USUALLY A POINT, POINT AND A HALF LESS IF IT'S NOT TAXABLE. OKAY. THANK YOU. ALL RIGHT. THANK YOU. QUESTION. THANK YOU. THANK YOU. THANK YOU. DID ANYBODY HAVE ANY QUESTIONS? IS THERE A MOTION TO APPROVE THE PROJECT PLAN FOR FUTURE OPPORTUNITIES AND DIRECTOR AND STAFF TO IMPLEMENT THE PLAN AND BE IN THE PROCESS NECESSARY FOR FUNDING APPROVAL AND OPTIONS FOR OBTAINING THE FUNDS? I MOVE, DO I HAVE THE COURT ALL THAT ? I, I MOVED. DO I HAVE TO SO MOVE COURT? ALL THAT. SO MOVE. OKAY. SO MOVE . I'LL SECOND. I HAVE A MOTION BY TIM, A [00:25:01] SECOND BY MIKE. ALL THOSE IN FAVOR? ALL RIGHT. ITEM PASSES, SIX TO ZERO. [Staff Report] MOVING ON TO OUR STAFF, THE FEBRUARY, 2025 STAFF REPORT AND UPDATES ON PAST, CURRENT AND UPCOMING PROJECTS AND EVENTS. PERFECT. OKAY. THANK YOU. IF YOU'LL LOOK AT THE SCREEN, WE HAVE OUR SOCIAL MEDIA REPORT UP, UM, THAT I DIDN'T GET THAT PUT INTO YOUR FOLDERS, I APOLOGIZE. I GOT IT FINISHED TODAY. BUT, UM, I JUST WANNA POINT OUT A COUPLE OF THINGS. SORRY, THE SCREEN IS A LITTLE BLURRY, BUT, UM, WE HAVE BEEN DOING REALLY GOOD ON OUR FOLLOWING FOR SOCIAL MEDIA. WE HAVE A THOUSAND PLUS FOLLOWERS, WHICH IS GREAT. UM, WE REACHED OUR HIGHEST ENGAGEMENT WITH THE CATERED ROOTS POST ON FEBRUARY 17TH WITH LIKE 2,212. UM, AND THEN WE HAD THE, UM, ENGAGEMENT OF LIKE 428. SO WHAT THAT HA THE WAY THAT HAPPENED AND WHAT THAT TELLS ME IS WHEN, YOU KNOW, WHEN WE ARE SEEING, UM, ORGANIC PHOTOS THAT WERE TAKEN AT THE EVENT, WHEN WE'RE NOT LOOKING LIKE AN AD, EVEN VIDEOS DON'T GET AS MUCH AS SOME OF THESE ORGANIC POSTS THAT ARE ABOUT THE BUSINESS OR THE OWNERS. THE NEXT BIGGEST ONE WAS THE ONE ABOUT, UM, JULIA'S BEING ON THE COVER OF LAKESIDE MAGAZINES. SO IF YOU ALL CAN SHARE MORE OF OUR POSTS, I THINK WE'RE GONNA INCREASE, SEE IT INCREASE BECAUSE WHEN I SH WHEN I TAGGED CATERED ROOTS IN THEIRS, THEY SHARED IT OUT, ALL OF THEIR FOLLOWERS SHARED IT OUT. AND SOME OF THAT SAME THING HAPPENS WITH OTHER BUSINESSES, BUT IF YOU ALL SHARE IT AS BOARD MEMBERS TOO, UM, TO SHARE IT, WHAT I PUT, YOU DON'T HAVE TO RECREATE ANYTHING. IT'S, IT'S GONNA HELP US WITH THAT CROSS, I CALL IT CROSS MARKETING, CROSS POLLINATION OF OUR, WHATEVER YOU WANT TO CALL IT. IT'S GONNA INCREASE THAT FOLLOWER, UM, THAT FOLLOWER BASE. I, I NOTICED WE HAD A NET INCREASE OF FOLLOWERS, NEW FOLLOWERS IN FEBRUARY. SO NEW FOLLOWERS ARE GOOD BECAUSE WE'RE REACHING OUT TO MORE PEOPLE THAT ARE BECOMING AWARE OF AUBREY, THE BUSINESSES WE HAVE HERE AND, AND WHAT WE'RE DOING HERE, UM, WITH THE MDD. SO THANK YOU FOR THAT BAILEY. UM, SO I WANT TO UPDATE YOU ON SEVERAL PROJECTS THAT WE'VE BEEN WORKING ON. THE VIDEO HAS BEEN MADE AND WE WATCHED IT. UH, SEVERAL OF US, UM, GOT LOTS OF FEEDBACK, SO I HAD SOME CONSISTENT FEEDBACK. UH, WE HAVE A LOT OF REVISIONS, BUT THEY'VE BEEN GRACIOUS ENOUGH TO WORK, UH, WITH US ON THOSE REVISIONS AND THE TIMING JUST SHORTEN IT A LITTLE BIT. SO WE'LL HAVE THAT BACK. UM, TAKE SOME A LITTLE BIT. THEY'RE GONNA HAVE SOME SEVERAL HOURS AGAIN ON SOME MORE EDITING, BUT WE SHOULD HAVE IT BY THE END OF THIS WEEK, BEGINNING OF NEXT. SO I'M EXCITED ABOUT THAT. UH, WEBSITE. I'VE GOTTEN TWO QUOTES ON BUILDING A NEW WEBSITE OR REBUILDING ONE WE HAVE. I'M GOING TO GET A THIRD ONE AND I'LL BE COMING BACK TO Y'ALL AND I'LL KIND OF REVIEW THE PROS AND CONS OF THE DIFFERENT WEBSITE FORMATS. UM, AND WE CAN LOOK AT THAT AT A FUTURE MEETING, BUT THAT'S GONNA BE SOMETHING THAT'S NEXT ON THE LIST. UM, OUR CURRENT SITE, UH, PLATFORM IS AGING AND IT'S NOT AS FUNCTIONAL. SO WE ARE, WHATEVER WE DO, WE HAVE TO DO SOMETHING. SO I'LL GET BACK TO Y'ALL WITH THAT. UM, BROKER DEVELOPMENT TOUR FOR AUBREY. WE'RE LOOKING AT HOSTING THIS EVENT ON WEDNESDAY, MAY 7TH OR THURSDAY, MAY 8TH. IS THERE ANYONE WHO WOULD HAVE A HARD TIME ATTENDING EITHER OF THOSE DAYS? I KNOW HOLLY IS AVAILABLE BOTH DAYS. MIKE HAD A LITTLE CHALLENGE. WHAT WE'RE LOOKING AT DOING IS WE'RE GONNA HAVE A RECEPTION IN THE MORNING. WE'LL HOST IT AT THE EQUINE INSTINCTS GALLERY, THE NEW GALLERY ON, UM, MAIN STREET IN DOWNTOWN. AND WE'LL LOOK AT ABOUT NINE 30 STARTING HAVE COFFEE RECEPTION. WE'LL GET 'EM ON A BUS ABOUT SEVEN 15. WE'LL DRIVE AROUND AUBREY IN THE AREA, THAT'S THE ETJ AND THE SECTIONS AND THE CORRIDORS THAT ARE GROWING. LET 'EM SEE WHAT'S HAPPENING HERE. AND THEN, UM, WE WILL BRING 'EM BACK BY ABOUT 1115. THEY CAN ASK MORE QUESTIONS OR THEY CAN GO AND HAVE LUNCH ON THEIR OWN AND SEE ANYTHING OF INTEREST THAT THEY MIGHT'VE SEEN ON THE TOUR. GO BACK AND LOOK AT THAT HERE IN AUBREY. SO THESE TOURS ARE DESIGNED TO NETWORK, CREATE AWARENESS, UM, GIVE THEM AN OPPORTUNITY TO MEET US AND, YOU KNOW, THEY CAN TALK TO US ABOUT SOME OF THEIR PROJECTS THEY MIGHT WANNA BE BRINGING TO OPRY. SO IT'S THE FIRST TIME WE WOULD'VE EVER HELD ONE LIKE THIS, BUT OTHER CITIES DO THESE AS WELL AND THEY, THEY WORK REALLY WELL FOR JUST FACE TO FACE. SO, UM, LOOK AT GETTING A CHARTER BUS, BUT IF WE DON'T HAVE THAT MANY, WE MIGHT BE ABLE TO USE A SCHOOL BUS, BUT IT'S A BUSY TIME FOR OUR SCHOOLS, SO I ALMOST HATE TO TAKE A BUS AWAY FROM 'EM. BUT, UM, CHARTER WAS PRETTY REASONABLE IN PRICING. SO WHAT WERE THOSE DATES AGAIN, PLEASE? MAY 7TH OR MAY 8TH. OKAY. UM, I'M, I'M LOOKING AT MAY 8TH 'CAUSE I THINK IT WORKS BETTER FOR USING THE GALLERY, BUT, UM, JUST KEEP THAT PENCILED IN. AND I'M GONNA CONFIRM WITH Y'ALL, UM, THE EDUCATION FOUNDATION GALA. WE DO HAVE [00:30:01] TICKETS. WE HAVE FOUR TICKETS. UM, WOULD ANYONE LIKE THE, I KNOW TODD SPOKE UP WANTING ONE TICKET, ONE OR TWO. DID YOU WANT ONE OR TWO? OKAY. SO WE, I KNOW SOME OF YOU ARE GONNA BE THERE WORKING THE GALA, SO , I JUST NEED TO KNOW IF THERE WAS ANYONE ELSE, UM, WHO WOULD LIKE TO ATTEND. IF YOU NEED TO CHECK YOUR CALENDAR AND GET BACK TO ME, UM, PLEASE DO. IT'S APRIL 5TH, UM, AND IT IS WHAT TIME? 6:00 PM 6:00 PM OKAY. SO OUT AT THE LODGE AT LAKE RAY ROBERTS. SO IT'S GREAT TIME. GREAT FUN. AND WE DID SPONSOR THAT. JUST THAT'S WHY WE GOT THOSE FOUR TICKETS. SO THE GRANT RECIPIENT PROJECTS OKAY, DOES MESS CLASS IS COMING. UM, CLOSE TO OPENING THEIR OPENING DATE, BUT I DON'T KNOW IF A DEFINITE DATE YET. I KNOW THEY'RE FINISHING UP A FEW THINGS. THEY'LL HAVE TO GET THEIR INSPECTIONS, THEIR COS, BUT IT'S LOOKING GOOD. UM, 3 77 CAR WASH STARTED THEIR PERMITTING PROCESS, BUT NO WORK HAS STARTED YET, BUT WE'LL BE SEEING THAT SOON. UM, THE FARMER'S MARKET CONCEPT PLAN THAT WE FUNDED, THEY ARE WORKING ON SOME FINAL REVISIONS. THEY HAD TO MAKE SOME CHANGES TO THE ENTRANCE AND PARKING STUFF. SO, UM, WESTWOOD'S WORKING ON THAT AND PARKS WILL GET BACK WITH ME, UM, WHEN IT'S FINISHED AND WE'LL BE ABLE TO SHOW YOU ALL THAT PLAN. TRAININGS AND MEETINGS, I'LL BE ATTENDING SOME EVENTS AND TRAININGS IN APRIL. IT'S KIND OF A BUSY MONTH FOR THAT. UM, I DID JOIN THE NORTH TEXAS AREA COMMERCIAL REAL ESTATE ASSOCIATION, SO THEY HAVE A LUNCHEON IN APRIL. THEN I HAVE SOME TRAINING CLASSES FOR MY TEDC, UH, TEXAS ECONOMIC DEVELOPMENT DEVELOPMENT CERTIFICATION IN COLLEGE STATION APRIL 14TH AND 15TH. AND THEN OUR BUILDING MAINTENANCE, YES, THE WIND GOT US, WE HAD SOME ROOF SHINGLES THAT BLEW OFF, BUT I THINK EVERYTHING ELSE WAS FINE. THE ROOF WAS REPAIRED, IT WAS AROUND $500, NOT VERY EXPENSIVE. UM, SO WE, WE JUST DIDN'T SEE ANYTHING AFTER THIS LAST WEEK'S WIND, BUT IT WAS THAT FIRST WINDSTORM IN MARCH THAT GOT US. SO GOT THOSE TAKEN CARE OF. I AM GONNA GET SOME BIDS ON SOME LANDSCAPE FROM SOME LANDSCAPE COMPANIES TO SEE WHAT WE CAN DO ON SOME, UM, BEDS AND JUST SOME ROCK OR CRUSH GRANITE OR SOMETHING AROUND THE BORDERS OF THE BUILDING. THIS WILL HELP WITH SOME MUD, MAYBE A LITTLE BIT OF DRAINAGE ISSUES WE'VE BEEN HAVING. UM, AND ALSO THE, IT'LL PROTECT THE, UM, MURAL FROM HAVING WEED EATING DONE AROUND IT AND CLICKING UP ANY KIND OF CHUNKS OR THE WEED EATER THINGS, HITTING IT AND TAKING ANY PAIN OFF. SO, UM, I'LL GET BACK TO Y'ALL ON WHAT I FIND OUT ABOUT THAT. SO, UM, LOOKING AT PROBABLY DOING BOTH MUSEUM AND THE UM, MDD BUILDING, JUST KIND OF FANCY IT UP A LITTLE BIT. UM, TRIM IT OFF. AND SO WE ALSO, I'VE REACHED OUT TO THE MUSEUM ABOUT THE PHOTOS ON THE WINDOWS THAT FACE THE SOUTH. I HAVE NOT HEARD BACK ON THE PHOTO SELECTION. UM, BUT I SUGGEST, YOU KNOW, WE'VE MADE SOME SUGGESTIONS. WE COULD DO A PHOTO COLLAGE OR SOMETHING WITH THAT UV PROTECTION MATERIAL ON THE WINDOW SO IT'S NOT AS FADED AND CHIPPED, BUT WHEN I HEAR BACK FROM THEM, I'LL LET YOU KNOW. I JUST HAVEN'T HEARD BACK YET ON THE PHOTO CHOICES. SO ARE THERE ANY OTHER PROJECTS THAT I MISSED THAT THAT I DIDN'T MENTION? OKAY, WHAT DID THEY EXPECT TO FINISH THE EDIT? MAYBE THE END OF THIS WEEK OR BEGINNING OF NEXT? I APPROVED ALL THE FINAL REVISIONS ON FRIDAY. UH, THEY HAD TO GET BACK TO ME WITH THE, THE CHANGES AND THE COST FOR THOSE. BUT WE STAYED WITHIN OUR BUDGET, SO ALL GOOD. , YOU DO ANYBODY HAVE ANYTHING ELSE? ANY QUESTIONS FOR CHRISTINE? ALRIGHT, GREAT. [Future Agenda Requests] WE'RE MOVING ON TO FUTURE AGENDA REQUESTS. ARE THERE ANY ITEMS IN PLACE ON FUTURE AGENDAS? I, I DO NEED TO MENTION IN APRIL WE'LL HAVE TO DO A BUDGET ADJUSTMENT. UM, I'LL GET BACK TO Y'ALL WITH THAT JUST BECAUSE WE HAD A LOT OF, UM, CARRYOVER OF PROJECTS THAT FROM LAST YEAR THAT Y'ALL PROVED THAT WENT INTO THIS YEAR. WE ALSO HAVE SOME EXPENSES THAT CAME NEW ADDITIONAL TECHNOLOGY EXPENSES THAT CAME WITH OUR SET UP HERE THAT ARE PART FOR IT, UH, FOR THE SWAG AND ALL OF THOSE CHARGES FOR TECHNOLOGY. SO JUST WANNA MAKE SURE WE'RE STAYING WITHIN OUR, OUR OVERALL BUDGET. AND I'LL BRING THAT BACK TO Y'ALL. SORRY I DIDN'T HAVE MY MIC ON. FUTURE AGENDA REQUEST. ANY OTHER ONES? WE HAVE THE APRIL BUDGET ADJUSTMENT. ANYTHING ELSE? WOW. COOL. [EXECUTIVE SESSION] ALL RIGHT. I CALL FOR A MOTION TO CONVENE INTO EXECUTIVE SESSION AT 6 35. [00:35:01] I MAKE A MOTION TO ADJOURN INTO EXECUTIVE SESSION AT 6:35 PM I SECOND THAT MOTION. I HAVE A MOTION BY MIKE. I SECOND BY TODD. ALL THOSE IN FAVOR? VOTE IS SIX TO ZERO. HOLD ON. IN ACCORDANCE WITH THE TEXAS GOVERNMENT CODE SECTION 5 5 1 0.001, THE BOARD WILL RECESS INTO EXECUTIVE SESSION TO DISCUSS THE FOLLOWINGS. SECTION 5 5 1 0.071 CONSULTATION WITH ATTORNEY GRAND PRAIRIE VERSUS STATE SECTION 5 5 1 0 8 7 DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATION SIGN GRANT PROJECT J 3 77 E TJ COMMERCIAL SECTION 5 51 0 7 2 REAL PROPERTY ETJ COMMERCIAL DOWNTOWN AND DOWNTOWN DEVELOPMENT. ALRIGHT, THANK YOU. WE'RE GONNA GO ACROSS THE, ARE WE READY? [Reconvene into Open Session] YEP. THE AUBREY MDD BOARD IS NOW RECONVENED INTO OPEN SESSION. DO I HAVE A MOTION TO RECONVENE INTO OPEN SESSION? ADJOURN THE MEETING. SO MOVED. I SECOND. I HAVE A MOTION BY MIKE, A SECOND BY TODD. ALL THOSE IN FAVOR? ALL RIGHT. VOTE IS SIX TO ZERO. MEETING IS ADJOURNED. THANK YOU GUYS. OH, AT 7 55. THANK YOU. Y WILL SHUT OFF YOUR MICS. * 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.