* 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. HELPS EVERYBODY. [00:00:03] ALL [Call to Order] RIGHT, WE ARE GONNA CALL THIS BOARD MEETING TO ORDER. I'M GONNA CALL YOUR NAME. PLEASE SAY HERE TO DETERMINE IF A QUORUM IS PRESENT. HOLLY, SORRY. OH 6:01 PM HOLLY DREW. HERE. MIKE BROWNING. HERE. AARON BOGAR. HERE. BROOKS STOY. HERE. BRENDA BLACKBURN. HERE. TODD DAVIS. HERE. TIM HYMAN IS ABSENT. WILL WE STAND FOR THE INVOCATION AND PLEDGE OF ALLEGIANCE? MIKE, DO YOU MIND JUST SAYING PRAYER? , LET'S PRAY. THANK YOU, LORD, FOR THIS DAY AND THE BEAUTIFUL SPRING WEATHER. THANK YOU FOR THE, THE HEALTH THAT EACH OF US HAVE FOR THE SAFETY IN, IN ARRIVING. I PRAY THAT YOU WOULD GIVE US WISDOM AND GUIDANCE, AS ALWAYS IN OUR DELIBERATIONS AND OUR FUNCTIONS, AND CARRYING OUT THE DUTIES OF THIS BOARD. AND I PRAY THAT, UH, YOU WOULD KEEP US SAFE ON OUR, UH, RIDE HOME AS WELL. IN JESUS' NAME I PRAY. AMEN. AMEN. IP TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE. DRAW, HONOR THE TEXAS FLAG. I PLEDGE ALLEGIANCE TO THE ONE, ONE STATE UNDER GOD. ONE. COMMUNITY [Community Announcements] ANNOUNCEMENTS. WE HAVE THE EASTER EGG HUNT THIS SATURDAY, APRIL 12TH AT VETERANS PARK. WE ARE ALSO HAVING THE GRAND OPENING, UH, RIBBON CUTTING FOR MATTHEWS PARK. I'M GUESSING THAT IS THAT LIKE RIGHT AFTER THE EGG HUNT? COOL DEAL. THE CHAMBER OF COMMERCE LUNCHEON IS APRIL 16TH AT 1130 AT HERE AT THE COMMUNITY CENTER. DOES ANYBODY ELSE HAVE ANYTHING? I BELIEVE THE CHAMBER OF COMMERCE LUNCHEONS. THE SPEAKER IS THE, UM, YEAH. TON. COUNTY. THE COMMISSIONER. COMMISSIONER, YES, SIR. SO THAT'D BE A GOOD ONE TO GO TO. ANYBODY. ANYTHING ELSE? AWESOME. DID YOU SOME UPCOMING MUSIC PARK THIS MONTH? I THINK IT STARTS IN MAY. LET'S CITIZENS' INPUT. ARE THERE ANY CITIZENS PRESENT WHO WISH TO ADDRESS THE BOARD? I DON'T SEE ANYBODY. MOVING [Consent Items] ON TO CONSENT. CONSENT ITEMS. ITEMS PLACED ON THE CONSENT. CONSENT AGENDA ARE CONSIDERED ROUTINE IN NATURE AND NON-CONTROVERSIAL SEAL CONSENT AGENDA CAN BE ACTED UPON IN ONE MOTION. DO I HAVE A MOTION TO APPROVE THE CONSENT AGENDA, WHICH IS MADAM PRESIDENT? I HAD ONE THING I WANNA POINT OUT IN CASE SOME FOLKS DIDN'T SEE IT. I DID SEND AN UPDATED ENGAGEMENT LETTER. HOPEFULLY ALL OF YOU GOT TO SEE THAT. OKAY. JUST WANNA MAKE SURE YOU ALL ALL KNEW THAT WAS WHAT YOU WERE APPROVING. WAS THAT THAT ONE? OKAY. SO THAT'S THE MINUTES OF MARCH 17TH, 2025. MEETING, APPROVE FEBRUARY, 2025 MONTHLY FINANCIAL REPORT AND APPROVE THE LETTER OF ENGAGEMENT WITH HOWELL FOR LEGAL SERVICES. DO I HAVE A MOTION TO APPROVE THE CONSENT AGENDA? I MAKE A MOTION TO APPROVE THE CONSENT AGENDA. DO I HAVE A SECOND? I SECOND. ALL RIGHT. I HAVE A MOTION BY TODD, A SECOND. MIKE BROOKS. ALL THOSE IN FAVOR? MOTION PASSES. SIX TO ZERO. UH, YES. OKAY. SORRY. WOO. AYE. NOT HERE TODAY. MOVING [New Business] ON TO NEW BUSINESS. THE FINANCE DIRECTOR, MIKE ENGLISH, WILL PRESENT THE LOAN OPTIONS FOR FINANCIAL SERVICE SUMMARY AND FINANCIAL SUMMARY FOR THE PROPOSED PROJECT PLAN. YOU MADE SOME MINOR UPDATES. WE MIGHT NOT HAVE THIS ONE. THANK YOU. THANK YOU. SO, RECALL THAT LAST TIME WE MET, WE TALKED ABOUT A $5 MILLION PLAN. UM, AND THEN WE DECIDED THAT LET'S TAKE A LOOK AND SEE WHAT THE COST OF [00:05:01] BORROWING WOULD BE, UH, FOR THAT. SO WE STARTED TO LOOK INTO IT AND FOUND THAT, UH, WE DID SPEAK TO BOND COUNCIL, UH, WITH DAVID HOWELL THAT YOU GUYS JUST, UH, APPROVED. UH, AND HE RECOMMENDED THAT BECAUSE OUR PROJECTS AS WE SIT TODAY ARE NOT SPECIFIC AND KNOWN, BUT WE HAVE AN IDEA OF WHAT THOSE ARE GONNA BE, THAT WE SHOULD DO BORROWINGS IN TRANCHES AS WE IDENTIFY THE SPECIFIC PROJECTS. WE TALKED A LITTLE BIT ABOUT A TAXABLE BORROWING VERSUS A NON-TAXABLE. GENERALLY SPEAKING, THIS IS VERY GENERAL. IF IT'S, IF WE ARE INVESTING IN SOMETHING THAT WILL BECOME A COMMERCIAL PROPERTY IN THE FUTURE, IT'S TAXABLE. SO THAT LOAN, UH, THE INTEREST ON THAT THAT PEOPLE WOULD EARN WOULD BE TAXABLE. SO THOSE RATES ARE HIGHER. SO THE ANALYSIS I'M GONNA TALK ABOUT HERE, UH, SHOWS THOSE HIGHER RATES. THE DIFFERENCE IS ABOUT TWO AND A HALF POINTS. THE NON TAXABLES ARE ABOUT TWO AND A HALF POINTS LESS, WHICH IS SUBSTANTIAL, BUT AT THIS POINT, WE ARE NOT BUYING SOMETHING THAT WE WOULD HOUSE CITY EMPLOYEES OR MDD EMPLOYEES. SO IT'S, IT'S A STRETCH TO THINK THAT THESE WOULD BE NON-TAXABLE LOANS. SO, UH, WE DID SPEAK TO, UH, THE BANK AND WE DID ASK THEM TO GIVE US AN IDEA. THIS IS, UH, UH, NOT EXACT AND CERTAINLY WILL CHANGE WHEN WE HAVE A PROJECT THAT WE BRING TO THEM. UH, BUT THEY, THEY, UH, INDICATED AS DID THE BOND COUNCIL, THAT WE COULD TURN THESE PRETTY QUICKLY, WHICH WAS SOMETHING WE WERE WORRIED ABOUT, THAT WE MAY HAVE TO HAVE, UH, A OG REVIEW OR, OR SOMETHING. WE DON'T GENERALLY EXPECT TO HAVE TO DO THAT, AND THAT COMES FROM OUR BOND COUNCIL. THE OTHER THING THAT WE TALKED ABOUT, UH, WHEN I'M SPEAKING TO THE BANK, UH, I ASKED THEM, YOU KNOW, WHAT KIND OF DUE DILIGENCE CAN WE DO TO MAKE SURE WE'RE GETTING THE BEST RATES? AND, UH, THE IDEA IS THAT WE WOULD USE OUR BOND COUNCIL, WHO WOULD BE VERY EXPERIENCED WITH OTHER DEALS THAT ARE GOING DOWN. SO WE'LL GET A GOOD INPUT FROM FROM HIM, BUT ALSO OUR FINANCE DIRECTOR, I MEAN, OUR, UH, FINANCE ADVISOR, OUR FA FOR THE CITY OF AUBREY IS HILLTOP SECURITIES. AND THEY ARE ALL OVER THESE LOANS. SO THEY WOULD BE ABLE TO TELL US THAT WE'RE IN THE RIGHT BALLPARK. UH, SO BEYOND PICKING A GOOD PROJECT TO DO, I THINK WE CAN ALSO, UH, MAKE SURE WE GET A VERY GOOD DEAL ON THE LOANS THAT WE WOULD BE CONSIDERING. SO THE SHEET IN FRONT OF YOU AND ON THE BOARD, UH, SHOWS TWO DIFFERENT SCENARIOS. ONE IS AT 1.5 MILLION, WHICH WOULD BE A KIND OF A PROJECT SPECIFIC LOAN. BUT THEN I WAS THINKING A LITTLE BIT LATER THAT WE PROBABLY OUGHT TO LOOK AT WHAT THE 5 MILLION WOULD COST US. JUST TO MAKE SURE THAT AS WE ADD THESE UP, WE HAVE THE, UH, THE FUNDS AND THE REVENUE TO SUPPORT, UH, BORROWING 5 MILLION. SO I'M GONNA JUST START AT THE TOP. UM, THEY'RE ALSO, UM, I THINK IN THEIR PACKETS, DID WE HAVE THE AMORTIZATION SCHEDULES THAT THE BANK PROVIDED? NO, BUT THAT, I'LL PUT THOSE IN YOUR BOARD SHARED FOLDER AFTER TONIGHT. IT WAS A LOT. SO IT'S REALLY JUST AN AMORTIZATION. SO LIKE THE 10 YEARS BROKEN OUT INTO 120 PAYMENTS, AND IT'S REALLY WHAT'S SUMMARIZED HERE IS, UH, A LITTLE BIT EASIER TO LOOK AT. SO WE USE 6.49. THAT WAS THE BANK'S RECOMMENDATION. THAT'S KIND OF THE, THE TARGET THAT THEY WOULD HIT IF WE WERE TO DO THIS TODAY. THAT NUMBER IS GOING TO CHANGE. THE BANK PRESIDENT THOUGHT THAT THE INTEREST RATES WILL BE DROPPING. I DON'T KNOW IF HE HAS A CRYSTAL BALL OR NOT, BUT IT VERY WELL COULD BE THE CASE. UM, BUT AS, AS OF TODAY, THAT'S WHAT, UH, WE WOULD PROBABLY BE LOOKING AT, GIVE OR TAKE A, A COUPLE OF BASIS POINTS. UM, SO IF YOU LOOK, UH, WE ASKED THEM TO RUN MONTHLY PAYMENTS AND THEN QUARTERLY PAYMENTS, THE, AND BOTH FOR A 15 YEAR AND A 10 YEAR PERIOD. SO WHAT I SUMMARIZED HERE ARE THE ANNUAL PAYMENTS. SO THE 15 YEAR LOAN AT 1.5 MILLION AND 6.49% YOU CAN SEE IS $156,700. THE 10 YEAR WOULD BE 204,000. AND IF WE DID IT ON QUARTERLY PAYMENTS, IT'S JUST A LITTLE BIT HIGHER. THAT WILL BE THE CASE IN ALL, YOU KNOW, BECAUSE THEY WE'RE HOLDING OUR MONEY LONGER. SO WE HAVE TO PAY A LITTLE BIT MORE INTEREST, IS WHAT THAT BOILS DOWN TO. THE TOTAL PAYMENTS WOULD BE THE, THE 156,000 TIMES 15 YEARS, AND THEN THE 204,000 TIMES 10. SO YOU CAN SEE THAT THE 10 YEAR AMORTIZATION HAS A LOWER COST. AND IT'S THE INTEREST, YOU SEE THE INTEREST THERE AT EIGHT 50 ON THE 15 YEAR LOAN AND 542 ON THE 10 YEAR LOAN. SO THAT KIND OF PUTS IT INTO PERSPECTIVE. WE, OUR REVENUE FROM SALES TAX IS [00:10:01] ABOUT A HUNDRED THOUSAND DOLLARS A MONTH. HOPEFULLY THAT'LL BE GROWING. UM, WE DO HAVE SURPLUS IN OUR CURRENT BUDGET. WE WOULD EXPECT THAT TO CONTINUE UNLESS WE START TO HIRE PEOPLE OR TAKE A LOAN AND START HAVING SOME DEBT SERVICE. BUT, UM, AS OF RIGHT NOW, THE, THESE SCENARIOS ARE, UH, UH, VERY DOABLE. THEY, THEY DON'T PUT A HUGE STRESS ON THE, ON THE BUSINESS. UM, AT THIS POINT, UH, YOU KNOW, MAYBE BECAUSE WE'RE JUST STARTING OFF, MAYBE WE GO WITH THE 15 YEARS, HAVE A LOWER PAYMENT, ALTHOUGH OVER THE 15 YEAR PERIOD WE PAY MORE INTEREST, WE WOULD EXPECT THAT THE MDD REVENUE WOULD START TO GROW. THAT'S WHY WE'RE DOING THIS. WE'RE INVESTING IN THE FUTURE TRYING TO BRING IN ADDITIONAL SALES TAX REVENUE OR ANY TYPE OF REVENUE TO THE CITY. SO, AT ANY RATE, UH, WE, YOU CAN LOOK AT THAT AND SEE, YOU KNOW, WOULD WE CONSIDER, UH, THE 15 OR THE 10? BUT I WOULD TELL YOU THAT FROM A, A FINANCIAL PERSPECTIVE, EITHER ONE IS FINE. I MEAN, WE CAN'T MAKE A MISTAKE WITH THESE. THE IDEA WOULD BE TO GET THE BEST RATE THAT WE COULD. UH, I DID TALK TO THE BANK ABOUT FEES. THEY DON'T CHARGE ANY, SO IT'S EASY TO KEEP TRACK OF. WE WOULD HAVE TO PAY THE ATTORNEY SOMEWHERE BETWEEN FIVE AND $10,000, DEPENDING ON THE AMOUNT OF WORK THAT HE HAD TO DO. UM, I THINK 10 WOULD BE VERY CONSERVATIVE. SO IT'S PROBABLY GONNA BE AROUND 7,000 BUCKS IS WHAT IT WOULD END UP BEING. UM, YEAH, I THINK I COVERED ALL THE NOTES DOWN THERE AT THE BOTTOM. SO THAT'S THE TOP PART. UM, ANY QUESTIONS ON THE MILLION FIVE? IT'S PRETTY STRAIGHTFORWARD. IT'S A STRAIGHT AMORTIZATION. UH, YOU PAY MOST OF THE INTEREST UP FRONT, JUST LIKE A CAR LOAN. AND THEN BY THE TIME YOU GET DOWN TO THE 10 AND 15 YEAR PAYMENTS, THEY BECOME MOSTLY PRINCIPAL. SO, UH, DEPENDING ON HOW ACTIVE WE GET AND HOW WE GROW, ONE OF THE THINGS THAT HILLTOP DOES FOR US IS THEY HELP US MANAGE THE, THE LOANS. SO THEY'LL LOOK AND SEE WHICH GROUP OF LOANS ARE GOING TO BE, UH, MATURING AND THEY CAN TIME VARIOUS WAYS TO KEEP THE DEBT SERVICE WITHIN OUR ABILITY TO PAY IT. UH, DEPENDING ON WHAT WE DO HERE, WE MIGHT, YOU KNOW, IF WE HAVE 10 LOANS OUTSTANDING, LIKE THE CITY DOES IT, WE'D HAVE TO MANAGE THAT. BUT AT THE START HERE, I THINK WE'RE, WE'D BE FINE PICKING ONE THAT YOU GUYS ARE COMFORTABLE WITH. UH, YOU KNOW, OF COURSE, DEPENDING ON THE PROJECT, YOU KNOW, IT MIGHT BE A SHORT TERM PROJECT. MAYBE WE'D HAVE TO LOOK AT IT AND SAY, WE'RE GONNA DO A FIVE YEAR LOAN ON THIS. GET IT OUTTA THE WAY. WE CAN DO ALL THOSE CONSIDERATIONS. THE BANK IS HAPPY TO RUN VARIOUS SCENARIOS FOR US, AND WE CAN RUN 'EM TOO ON EXCEL. JUST LOAN AMORTIZATION SCHEDULES ON EXCEL WILL GIVE US THAT. IT'S JUST, WE DON'T KNOW THE RATES, BUT BECAUSE THERE'S NO FEES, IT'S RELATIVELY EASY FOR US TO DO THAT. SO THE NEXT THING I DID IS I JUST TOOK A QUICK LOOK AT 5 MILLION AND I USED THE SAME 6.49%. AND YOU CAN SEE THAT, YOU KNOW, COMPARE THE ANNUAL PAYMENT ON THE 15 YEARS AT 5 MILLION COMPARED TO THE ONE AND A HALF. YOU CAN SEE IT GOES FROM 1 56 TO 522,000. AND THE SAME WITH THE 10 YEAR GOES FROM 2 0 4 TO 6 81. UM, BUT AGAIN, THESE, IN OUR CURRENT ENVIRONMENT, THESE WOULD BE, UH, DOABLE. WE, WE WANNA MAKE SURE THAT OUR BUDGET, UH, WOULD TAKE THIS INTO ACCOUNT THAT WE COULD, UH, STAY ON TOP OF THIS. UM, FOR INSTANCE, AS YOU DO YOUR BUDGETS FOR NEXT YEAR, WE KNOW THE BUDGET FOR THIS YEAR. UM, BUT YOU MAY DECIDE YOU WANT TO DO SOMETHING DIFFERENT NEXT YEAR, BRING IN ANOTHER PERSON OR SOMETHING THAT WOULD AFFECT, UH, OBVIOUSLY THE SURPLUS. BUT AGAIN, IT, THAT DEPENDS ON HOW WE, WE DO OUR, OUR BUDGETING FOR NEXT YEAR AND KIND OF THE LONGER TERM PLAN. BUT IT, FROM WHERE I SEE, UM, WE HAVE IN PLACE, YOU KNOW, THE EXPENSES THAT WE EXPECT, BUT YOU MAY COME ACROSS SOMETHING THAT YOU WANT TO ACT ON. THAT'S WHERE OUR RESERVES COME IN. SO IF WE HAVE $4 MILLION OF RESERVES AND YOU WANT TO GIVE SOMEBODY A, LET'S SEE, A HUGE INCENTIVE, HALF A MILLION BUCKS TO BUILD, UH, WHATEVER, UH, WE COULD DO IT. WE HAVE THAT KIND OF MONEY TO DO THAT. SO SHORT TERM, WE CAN USE OUR RESERVES LONG TERM. WE'D WANNA PLAN THIS SO THAT OUR REVENUE ACTIVITY WOULD SUPPORT IT. AND THEN I'VE GOT, I JUST GIVE YOU THE TOTAL PAYMENTS AND THE INTEREST. YOU KNOW, OBVIOUSLY IT'S CHEAPER TO, TO KEEP THE LOAN TERM SHORTER, BUT, UH, NOT REQUIRED. ESPECIALLY IN A ENVIRONMENT WHERE THE CITY'S GROWING AND THE MDD IS GROWING. UM, BUT WE HAVE TO SEE, YOU KNOW, THAT MIGHT, THAT'S, I LIKE THE IDEA OF THIS DOING THIS 5 MILLION [00:15:02] CLUMP OF PROJECTS. GIVE US AN IDEA, GIVE US SOME TIME TO SEE WHAT'S HAPPENING WITH THE SALES TAX. IS IT GOING UP? THERE'S PLAN DEVELOPMENTS, COMMERCIAL DEVELOPMENTS THAT SHOULD, UH, DRIVE THAT. AND OF COURSE, THE AREA, BECAUSE YOU COLLECT THAT HALF SET ACROSS THE ETJ, IT COULD IT GROW A LOT FASTER THAN THE CITY. SO, UH, I THINK RIGHT NOW, UH, YOU'RE IN PRETTY GOOD SHAPE. UH, THOSE RESERVES ARE HELPFUL AND, UH, THE LOAN AMORTIZATIONS LOOK VERY DOABLE FROM A FINANCIAL STANDPOINT. SO, UM, CAN I SEE YOUR AGENDA JUST FOR A SECOND? MM-HMM . HE'S GOT MY NOTES ON, GOT MY NOTES ON IT. . SO I THINK THE MOTION THAT, THAT WE'RE ASKING FOR IS THAT WE MOVE FORWARD WITH, ACTUALLY WE DON'T HAVE, SINCE WE DON'T HAVE A SPECIFIC PROJECT. OKAY. SO WE WOULD BRING SPECIFIC PROJECTS AND, AND PERFORM A ANALYSIS OF THOSE PROJECTS. 'CAUSE THEY'LL HAVE RETURNS ALSO, WHICH WILL MAKE THIS LOOK BETTER. AND WE'RE GOING TO, AS WE GO THROUGH A PROJECT AND HAVE A LOAN PROCESSED, WE'RE GONNA HAVE TO PAY THE ATTORNEY EACH TIME HE PROCESSES A LOAN. SO IF WE HAVE TWO, TWO PURCHASES AND ONE LOAN, THEN WE CAN DO IT AS ONE LOAN. SO THAT'S JUST SOMETHING ELSE TO KEEP IN MIND. AS, AS YOU LOOK AT THE FEES AND WHAT Y'ALL JUST APPROVED ON THAT ENGAGEMENT LETTER AND YOU MENTIONED QUICK TURNAROUND TIME. WHAT IS THE, THE TIMELINE, I GUESS, FROM LOAN SELECTION TO PROCESSING AND ISSUING? YEAH, SO, UM, THE BANK PRESIDENT TOLD US A COUPLE WEEKS. YEAH. SO I DON'T KNOW IF IT'LL BE THAT FAST. YOU GET AN ATTORNEY INVOLVED. IT USUALLY ADDS A COUPLE WEEKS. SO LET'S JUST AGREE ON A MONTH AND SAY THAT IT MIGHT BE. UH, BUT FOR US, THAT WORKS. 'CAUSE WE HAVE TO MEET, GO THROUGH THIS, APPROVE IT, GET IT TO THE COUNCIL, GET IT APPROVED. SO, UH, THAT WILL PROBABLY WORK FOR US. WE CAN GET SOME OF THE ATTORNEY WORK OUT OF THE WAY AT THE BEGINNING AND THEN GET THE APPROVAL AND GET THE LOAN PROCESSED. BUT HE, HE SAID ONE TO TWO WEEKS, SO I DON'T THINK IT'LL TAKE TOO LONG. OUR CREDIT RATING IS PRETTY GOOD, YOU KNOW, WHEN YOU HAVE CASH COLLATERAL LIKE THAT AND GUARANTEED REVENUE, IT'S PRETTY GOOD. SO, ANY OTHER QUESTIONS? OKAY. THANK YOU. THANK YOU, YOUR HONOR. NOBODY HAS ANY QUESTIONS. UM, CONSIDER AND TAKE ACTION ON AMENDING THE FISCAL YEAR 20 24, 20 25 BUDGET TO BALANCE REVENUE SURPLUS AND EXPENSE SURPLUS FOR THE MDD BUDGET AND PROVIDING AN EXECUTIVE DATE, EFFECTIVE DATE OF 2020, APRIL 24TH, 2025. OKAY, SO YOU WERE PROVIDED THIS INFORMATION IN YOUR BACKUP, BUT I ALSO WANT TO JUST REVIEW IT TONIGHT WITH Y'ALL. MAKE SURE YOU HAVE NO QUESTIONS OR IF, UM, THERE'S ANYTHING ELSE THAT WE NEED TO CONSIDER. BUT ON OUR BUILDING MAINTENANCE, YOU'LL SEE THAT THERE WAS AN INCREASE REQUEST FOR, UM, AN ADDITIONAL $15,000 THAT WOULD BE OUR MURAL THAT CARRIED OVER FROM THE 20 23 24 BUDGET. WE DID PAY FOR THAT MURAL OUT OF THIS YEAR'S BUDGET. SO THAT WAS AN APPROVED ITEM. AND TECHNOLOGY AND PROMOTION IS OUR VIDEO MOSTLY, BUT WE DID HAVE SOME EXPENSES IN THERE FOR SOME OF THIS EQUIPMENT AND HARDWARE THAT WE'RE SHARING, UM, THE COST ON WITH THE CITY FOR LIVE STREAMING. SO, UH, OUR VIDEO PROJECT IS MOSTLY, IS 99% COMPLETE. I'M GONNA SHOW Y'ALL LATER. AND THEN WE JUST HAVE A COUPLE TWEAKS, BUT I DON'T EXPECT THAT LINE TO GO UP MUCH MORE. UM, BUT IT IS ABOUT, UH, GONNA BE ABOUT 38,800 TOTAL FOR, UM, FOR THIS BUDGET YEAR THAT WE NEED TO SPEND. BUT AGAIN, MOST OF THAT IS CARRIED FORWARD FROM THE VIDEO IN 2324 AND MUNICIPAL PROJECTS. UM, THAT IS THE FARMER'S MARKET CONCEPT PLAN. THAT PLAN WAS NOT FINISHED BY THE TIME WE FINISHED 2324. SO WE HAVE, UM, RECEIVED THE INVOICE AND THE PLAN HAS BEEN DRAWN. UM, AGAIN, WE'LL SHOW THAT AT THE NEXT, AT OUR MAY MEETING. BUT, UM, THAT IS $25,000 THAT, THAT Y'ALL APPROVED LAST YEAR. AND THEN 24 25 BUDGETED AMOUNT FOR LEGAL AND PROFESSIONAL WAS $36,000. WE'VE HAD QUITE A FEW CHANGES SINCE WE MADE THAT BUDGET LAST SUMMER. UM, WE ARE NOW HAVING OUR ATTORNEY DRIVE HERE TO SEE US AS ALSO WE HAVE, UM, THERE WAS A SLIGHT RATING GREECE FOR SOME OF THOSE LEGAL FEES. BUT AS WELL, WE HAVE NEW PROFESSIONAL SERVICES AGREEMENT, UM, THAT [00:20:01] WE MADE THIS A MONTH AGO, Y'ALL APPROVED. AND IF WE USE ANY OF THOSE SERVICES, UM, I, I BUILT IN AN ESTIMATE FOR THE, USING SOME OF THOSE PROFESSIONAL SERVICES WITH, UM, CATALYST. SO AGAIN, LEGAL FEES ESTIMATED BASED ON WHAT I THINK WE'LL BE DOING, UM, FOR THESE, IF WE PROCESS LOANS AND, AND ANNABEL'S TIME COMING TO SEE US. AND ALSO JUST MORE ACTIVITY. WE'VE JUST BEEN DOING A LOT MORE AND IT'S JUST TAKING A LOT MORE LEGAL REVIEW. SO ALL, ALL GOOD. BUT THAT INCREASED US, UM, UP TO FROM 36 TO 64 FOR THIS YEAR. AND THEN YOUR STRATEGIC PLAN, UH, BUDGET LINE ITEM AGAIN, JUST TO CARRY FORWARD FROM WHAT WE DID NOT GET FINISHED PAYING IN 2324, THAT'S A, WE'VE BEEN BILLED, UM, FOR 24 25 WHEN THE PLAN WAS COMPLETED IN OCTOBER NOVEMBER TIME PERIOD. SO ALL IN ALL, THAT'S $97,473 AND 75 CENTS INCREASE. UM, I DO HAVE A QUESTION ON THE TECHNOLOGY. SO HOW MUCH DID IT END UP BEING FOR THE SWAG AND THAT, WHAT DID, WHAT WAS THE TOTAL END UP? UM, WE HAD SOME, SO IN YOUR ORIGINAL 23 WAS, AND I DON'T HAVE A BUDGET IN FRONT OF ME, SO I'M GOING, UM, I DON'T HAVE ALL THAT DETAIL IN FRONT OF ME, BUT WE HAD A BILL FOR A SHARED COST FOR HARDWARE THAT CAME IN, WAS ABOUT 2300. IT WAS AROUND 2300 THAT WE ALL SHARED AMONG DEPARTMENTS. AND THEN THAT, AND THAT WAS NOT SOME NO, NO, NO. THAT'S JUST, IT WAS AN INSTALLATION FEE THAT CAME AFTER WE HAD INSTALLED IT. SO IT'S NOT ANYTHING THAT WE'RE GONNA CONTINUE. IT'S, IT WAS A HARDWARE COST THAT WAS SHARED AMONG ALL THE DEPARTMENTS. SO, OKAY. SO THE MONTHLY FEE DIDN'T GO I OH, NO, NO, NO MONTHLY FEE AND ALL THAT STAYED THE SAME. THE ONLY THING THAT CAME BACK WAS THE HARDWARE INSTALLATION COST THAT I HAD NOT ACCOUNTED FOR MM-HMM . WHEN I DID THE BUDGET IN THE SUMMER. OKAY. LAST SUMMER. SO I HAD TO ADD THAT ON. UNDERSTOOD. SO, UM, AND THEN THE COURSE, THE VIDEO, RIGHT. CARRYING FORWARD MADE IT LARGER AMOUNT. OKAY. DO I HAVE A MOTION TO, DOES ANYBODY HAVE ANY QUESTIONS? NO. OKAY. I HAVE A MOTION TO APPROVE THE BUDGET AMENDMENT AS PRESENTED AND TO BE EFFECTIVE ON, ON APRIL 24TH, 2025. UH, I HAVE MOTION TO APPROVE. DO I HAVE A SECOND? I'LL SECOND. I HAVE A MOTION BY AARON, A SECOND BY MIKE. ALL THOSE IN FAVOR? ALL RIGHT. ITEM PASSES. SIX TO ZERO. [Staff Report] MOVING ON TO THE STAFF REPORT. OKAY. OKAY. AND SO I'M GONNA MAKE THIS SOMEWHAT BRIEF 'CAUSE I WANNA SHOW Y'ALL THE VIDEO, BUT ALSO Y'ALL GOT YOUR STAFF REPORT IN YOUR PACKET. AND I JUST WANNA REMIND YOU OF A COUPLE THINGS COMING UP. UM, ON MAY, EXCUSE ME, WE HAVE SET THE BROKER OR AUBREY ECONOMIC DEVELOPMENT TOUR FOR MAY 8TH. THAT WILL BE AT TWO 16 SOUTH MAIN STREET. IT'S GOING TO BE AT THE GALLERY. WE'RE GONNA HAVE A, A BREAKFAST OR COFFEE TYPE RECEPTION AT NINE 30. WE WILL BOARD A BUS AROUND 10 15. WE'LL GO TOUR AROUND AUBREY AND THEN WE'LL COME BACK, BE DONE BY 1130. SO I AM GETTING A 40 PASSENGER BUS. I AM STILL WORKING ON SECURING THAT BUS. SO, UM, THERE IS A FEE FOR RENTING THE BUS, BUT IT'LL, I THINK IT'LL BE A COMFORTABLE BUS AND I WANT EVERYONE TO HAVE A GOOD EXPERIENCE. SO WE'RE GOING TO, UM, SEND MORE INFORMATION OUT. I'VE SENT OUT, SAY THE DATES. I THINK WE'RE GETTING A GOOD RESPONSE FROM THE BROKERS AND DEVELOPERS AND THOSE WHO'VE RECEIVED IT SO FAR. SO I'M SENDING OUT ANOTHER INVITATION AND THAT'LL BE GOING OUT THIS WEEK AND I'LL GET Y'ALL THAT INVITATION AS WELL. SO, UM, JUST KNOW THAT THAT'S GONNA BE THE NEXT BIG THING ON, ON THE LIST. AND THEN WE HAVE, UM, THE WEBSITE. I'M STILL WORKING ON GETTING A QUOTE FROM A THIRD PARTY, BUT I'LL BRING THAT BACK TO Y'ALL RIGHT NOW. WE'RE, IT'S STILL WORKING AS IT IS, BUT IT IS GONNA HAVE TO BE UPDATED. THE PLATFORM IS JUST OUTDATED AND SHE NEEDS TO MOVE US OVER IF WE STICK WITH OUR SAME. UM, LET'S SEE, THEN WE HAVE, I GAVE Y'ALL INFORMATION ON OUR SOCIAL MEDIA, WHICH HAS BEEN LOOKING REALLY GOOD. AND WE HAD A REALLY, REALLY HIGH ENGAGEMENT FROM THE AUBREY FLORIST POST OF 5,345 VIEWS. SO THAT WAS PRETTY, PRETTY IMPRESSIVE. BUT AGAIN, THAT GOES BACK TO THE [00:25:01] SHARING, CROSS MARKETING AND TAGGING EVERYBODY. SO THAT HELPS. BUT, UM, I AM CONTINUING TO WORK ON THE SITE SELECTION PAGE, UPDATING THAT, GETTING INFORMATION ABOUT SITES AVAILABLE. SO AS WE, AS WE GO ALONG, I'LL JUST KEEP ADDING TO THAT. BUT OTHERWISE, ARE THERE ANY QUESTIONS ON ANY OF THE STAFF REPORT? BECAUSE I WOULD LIKE TO SHOW YOU, DO YOU HAVE THE LINK? OUR VIDEO HAS BEEN COMPLETED. THERE ARE A COUPLE OF TWEAKS THAT WE WILL NEED TO MAKE, UM, TO A FEW SCREENSHOTS AND I'VE ALREADY TALKED TO 'EM ABOUT THAT. UM, THERE'LL BE A LITTLE ADDITIONAL REVISION FEE, BUT NOT MUCH. AND I FEEL LIKE IT'S IMPORTANT THAT WE GO AHEAD AND UPDATE IT NOW, CONSIDERING SOME OF THE CHANGES WITH OUR, UM, SCHOOL GROWTH AND SOME OF OUR DOWNTOWN DEVELOPMENTS. SO IT'S IN THE EMAIL. I SENT THE LINK IN THE EMAIL. CAN YOU MAKE IT FULL SCREEN? YEAH. THANK YOU. THANK YOU VERY MUCH. . THAT PROJECT WAS A LABOR OF LOVE AND A LABOR. SO WE WE HAD A LOT OF FILMING TO DO AND EDITING TO DO, UM, JUST 'CAUSE AUBREY'S SO BIG. BUT, UH, WE, WE WORK THROUGH SOME OF THE KINKS. WE DO HAVE SOME, UM, COLORIZATION CHANGES THAT WE'RE GONNA MAKE ON THE DOWNTOWN, UM, THAT THEY'RE GONNA HELP US WITH. SO JUST SO WE CAN IT, YOU KNOW, KNOW, MAKE NOTE OF SOME OF THOSE CHANGES THAT HAVE ALREADY OCCURRED. SO THEY'RE GONNA WORK A LITTLE BIT OF MAGIC ON THOSE BUILDINGS. BUT, UM, OTHERWISE EVERYTHING, WE'VE GOT A COUPLE UPDATES THE SCHOOL ASKED ME TO MAKE TO SEVEN CAMPUSES. I'M GONNA GET THAT CHANGED. AND SO, UM, 'CAUSE BY THE TIME STATEMENT WE START ROLLING THIS OUT, IT'LL BE SEVEN CAMPUSES. SO, [00:30:01] OR IT ALREADY IS, BUT, UM, BUT WE, WE HAVE, UH, RUN IT BY EVERYBODY. SO APPRECIATE THOSE OF YOU WHO DID WATCH IT, TAKE, TOOK TIME TO GIVE SOME FEEDBACK. UH, YOU'LL GET THAT SONG STUCK IN YOUR HEAD, , AND YOU WILL GO TO BED TONIGHT WITH THAT TUNE. SO HOPEFULLY I DIDN'T, UH, JUST DON'T LISTEN TO IT AGAIN FOR A WHILE. BUT, UM, ANYWAY, IF THERE'S NO OTHER QUESTIONS OR COMMENTS OR ANYTHING, THAT'S ALL I HAVE. VERY GOOD MOVING. NOW WE'RE AT FUTURE AGENDA REQUESTS. ARE THERE ANY ITEMS YOU PLACED ON FUTURE AGENDA? ANYTHING? ANYBODY? COOL? ALL RIGHT. [EXECUTIVE SESSION] WE'RE GONNA MOTION INTO EXECUTIVE SESSION. I CALL FOR A MOTION TO CONVENE INTO EXECUTIVE SESSION AT 6:31 PM UM, I MOTION TO MOVE INTO EXECUTIVE SESSION 6 31. MOTION BY AARON. I SECOND THE MOTION. SECOND BY TODD. ALL THOSE IN FAVOR? SIX TO ZERO. THERE WE GO. OH, HOLD ON, PAUSE FOR A SECOND. EXECUTIVE SESSION. IT'S ON THE SECOND PAGE. BUSY IN ACCORDANCE WITH TEXAS GOVERNMENT CODE SECTION 5 5 1. THE BOARD WILL RECESS INTO EXECUTIVE SESSION TO DISCUSS THE FOLLOWING SECTION 5 5 1 0 7 2. REAL PROPERTY DOWNTOWN DEVELOPMENT. YOU CAN GO AHEAD. OKAY. SECTION 5 5 1 0 7 2. REAL PROPERTY ETJ COMMERCIAL MDD PROPERTY 3 77 ETJ COMMERCIAL 3 77 ETJ COMMERCIAL 4 28, SECTION 5 5 1 0 8 7. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. PROJECT J, PROJECT K. THERE WE GO. PLEASE TURN OFF YOUR MIC. WE'LL NOT BE DISCUSSING, BUT THIS ROOM DOES STAY UNLOCKED THROUGH THE HAS TWO. SO JUST DO [Reconvene into Open Session] I HAVE A MOTION TO RECONVENE TO OPEN SESSION AND ADJOURN THE MEETING? OH, NOPE. DO I HAVE A MOTION TO RECONVENE TO OPEN SESSION? SO MOVED. I'LL SECOND. I HAVE A MOTION BY MIKE. I SECOND MY BROOKS. ALL THOSE IN FAVOR? ALL. ALL RIGHT. IT'S SEVEN. YEAH, SORRY. 7 23. ALL RIGHT. SO I MAKE A MOTION TO DIRECT STAFF TO PROCEED WITH PROPERTY ACQUISITIONS AS DISCUSSED IN THE EXECUTIVE SESSION. I'LL SECOND THAT MOTION. I HAVE A MOTION BY TODD, A SECOND BY MIKE. ALL THOSE IN FAVOR? ALRIGHT, VOTE. UH, MOTION IS PASSED SIX TO ZERO. NOW DO I HAVE A MOTION TO ADJOURN THE MEETING AT 7:23 PM A MOTION TO ADJOURN AT MOTION BY AARON. I SECOND THAT MOTION. SECOND BY TODD. ALL THOSE IN FAVOR? ALL RIGHT. VOTE IS SIX TO ZERO. MEETING IS ADJOURNED. THAT HAS A LOT OF VOTING. GUYS. SUCH A. * 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.