* 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. [CC Briefings 09022025] [00:00:05] CALLED THE MEETING TO ORDER, UH, STAFF PRESENTATIONS ORIENTATION REGARDING HOUSING FINANCE CORPORATION, MAYOR, UH, OUR CITY OF AFFAIRS AND OUR HOUSING DIRECTOR WILL BE PRESENTING THIS AS WELL AS OUR DEPUTY CITY MANAGER TO, AND IT'S GONNA BE PRETTY LENGTHY, SO I JUST WANT Y'ALL TO BE PREPARED FOR IT. IT'LL BE ABOUT 15, 20 MINUTES. YOU DIDN'T TELL ME THAT PART THAT YOU WANTED IT TO BE. 15, 20 MINUTES. IT MAY BE AN HOUR LONG. OKAY. GOOD AFTERNOON, MAYOR AND COUNCIL MILITIA MCGINNIS CITY ATTORNEY. I'M HERE TO PROVIDE YOU WITH A GENERAL OVERVIEW OF HOUSING FINANCE CORPORATIONS, UH, THE AUTHORITY UNDER LOCAL GOVERNMENT CODE, WHAT THE HSC DOES, AND WHAT SPECIFICALLY GRAND PRAIRIE HOUSING FINANCE CORPORATION DOES. I'M GONNA START OFF, AND THEN, UM, ESTHER IS GOING TO COME AND PROVIDE YOU WITH SOME ADDITIONAL INFORMATION. SO, THE TEXAS LOCAL GOVERNMENT CODE, YOU SHOULD HAVE YOUR HANDOUT THERE. UM, THE FIRST SLIDE GOES OVER THE AUTHORITY TO CREATE HOUSING FINANCE CORPORATIONS UNDER CHAPTER 3 94. THE PURPOSE OF HFCS IS BASICALLY TO PERFORM ESSENTIAL GOVERNMENT FUNCTIONS. HFCS OPERATE ON BEHALF OF THE SPONSORING ENTITY THAT CREATES THEM, WHETHER THAT BE A CITY OR A COUNTY. AND, UH, THE PURPOSE OF THE HFC IS TO PROMOTE THE PUBLIC HEALTH, SAFETY, AND WELFARE OF THE CITIZENS. THE HFCS, IN PARTICULAR, ASSIST LOCAL GOVERNMENTS WITH CARRYING OUT THE PUBLIC PURPOSES TO PROMOTE THE ECONOMY, PROVIDE, UH, DECENT, SAFE AND AFFORDABLE HOUSING FOR THE CITIZENS. THEY ALSO HAVE THE ABILITY TO FINANCE THE COST OF RESIDENTIAL OWNERSHIP. UM, THEY INCREASE COMMERCIAL ACTIVITY AND ECONOMIC DEVELOPMENT TO RELIEVE UNEMPLOYMENT AND ALSO PRESERVE AND INCREASE THE AVALOR TAX BASE FOR THE LOCAL GOVERNMENTS GENERAL POWERS OF AN HFC. UM, AS A PUBLIC NONPROFIT CORPORATION, THE HFC HAS CORPORATE POWERS. UM, AS WITH ANY OTHER CORPORATION ORGANIZED UNDER TEXAS LAW, HFCS ARE NOT CONSIDERED MUNICIPALITIES OR COUNTIES OR OTHER POLITICAL SUBDIVISIONS OF THE STATE. THE HFCS CAN EXERCISE ANY POWER THAT'S NECESSARY TO CARRY OUT THEIR PURPOSE. SO ALL HFCS HAVE THE AUTHORITY TO MAKE AN ENTER INTO CONTRACTS. UM, THE PURPOSES THAT THE HFC EXERCISE THEIR POWERS THROUGH BOARD OF DIRECTORS WITHOUT THE NEED OF APPROVAL OF THE LOCAL GOVERNMENT THAT'S SPONSOR THE HFC. SO THE HSE CAN ENTER INTO CONTRACTS. THEY CAN INCUR LIABILITIES, JUST LIKE ANY OTHER CORPORATION. THEY CAN SUE AND BE SUED. THEY CAN ISSUE BONDS AND OTHER OBLIGATIONS. THEY CAN ALSO PLEDGE THE CORPORATION'S PROPERTY AND INCOME AND DEVELOP AND PROMOTE THE ESTABLISHMENT OF RESIDENTIAL DEVELOPMENT. UM, AS YOU KNOW, HB 21, UH, MADE SOME SIGNIFICANT CHANGES IN THE LAWS REGARDING HSCS. I WILL TELL YOU, THIS WAS A 25 PAGE BILL, SO I MADE AN ATTEMPT TO CONDENSE IT INTO THIS ONE SLIDE. UH, THAT, UH, KIND OF GOES OVER THE SIGNIFICANT CHANGES. IF YOU WOULD LIKE TO READ THE 25 PAGE BILL, PLEASE LET ME KNOW AND I'LL BE HAPPY TO GET YOU A COPY OF IT. MAIN CHANGES, UM, SIGN SIGNIFICANT CHANGES. THE NEW BILL LIMITS THE AREAS IN WHICH AN HFC MAY OWN REAL PROPERTY FOR RESIDENTIAL DEVELOPMENT OR ENGAGE IN RESIDENTIAL DEVELOPMENT. IT'S LIMITED TO THE BOUNDARIES OF THE MUNICIPALITY OR THE COUNTY THAT SPONSORS THE HFC. THIS WAS IN RESPONSE TO TRAVELING HFCS AND, UM, ADDRESSING THOSE ISSUES. AN HFC MAY ONLY OWN REAL PROPERTY OR RESIDENTIAL DEVELOPMENT OR ENGAGE IN THAT DEVELOPMENT. IF THOSE, UH, BOUNDARIES ARE, IF THEY'RE OUTSIDE OF THE BOUNDARIES OF THE MUNICIPALITY OR COUNTY. IF THE MISS CITY OR COUNTY THAT SPONSORS THE HFC ADOPTS A RESOLUTION APPROVING THE OWNERSHIP OR DEVELOPMENT. SO IF THE HFC OWNS PROPERTY THAT IS OUTSIDE OF THE BOUNDARIES, THEN THAT PARTICULAR TRANSACTION HAS TO BE PRESENTED TO THE CITY OR COUNTY THAT SPONSOR THE HFC. PRIOR TO APPROVAL. BONDS ISSUED BY AN HFC MAY ONLY BE ISSUED TO SUPPORT DEVELOPMENT INSIDE THE BOUNDARIES OF THE LOCAL GOVERNMENT THAT SPONSOR THE HFC, OR IF OUTSIDE THE BOUNDARIES, THEN THE LOCAL GOVERNMENT MUST APPROVE. SO THE INSTANCES WHEN A LOCAL GOVERNMENT IS REQUIRED TO APPROVE IS WHEN THE BOUNDARIES ARE OUTSIDE THE MUNICIPALITY AND OR THE BONDS ARE ISSUED TO SUPPORT A DEVELOPMENT THAT'S OUTSIDE THE MUNICIPALITY. OTHERWISE, THE APPROVAL LIES WITH THE HFC. UM, THE NEW LAW HAS ALSO ADDED AN AFFORDABILITY REQUIREMENT AND A RENT REDUCTION TEST FOR HFC DEVELOPMENTS TO QUALIFY FOR AVALOR TAX EXEMPTION, THE AFFORDABILITY REQUIREMENT, UM, PLACES, UM, 50% AFFORDABILITY ON THE UNITS THAT ARE SPONSORED BY HFC. THEY COULD, THAT CAN BE ME, MET ONE OF TWO WAYS. THERE'S A CALCULATION, UM, THAT'S NEEDED FOR AREA IMMEDIATE INCOME. SO IT DEPENDS ON THE PARTICULAR PROJECT. THERE'S ALSO A RENT REDUCTION TEST THAT THE HFCS, [00:05:01] UM, HAVE TO GO THROUGH AS WELL. AND THAT'S BASICALLY TO DETERMINE WHAT THE SAVINGS WOULD BE, UM, IF THOSE PROPERTIES HAD NOT BEEN TAKEN OFF THE TAX ROLLS. SO THE RENT REDUCTION IS A ALSO A CALCULATION, BUT THE CALCULATION WOULD SHOW THAT PARTICULAR NUMBER, WHAT THAT NUMBER WOULD BE IF THOSE, UH, PROPERTIES HAD NOT BEEN TAKEN, HAD NOT BEEN TAKEN OFF THE TAX ROLLS. UM, ANOTHER CHANGE. THE HFCS ARE NOW SUBJECT TO THE OPEN MEETINGS ACT AND THE PUBLIC INFORMATION ACT. PRIOR TO THIS LAW GOING INTO EFFECT, HFCS WERE NOT, UM, DIRECTLY SUBJECT TO THE OPEN MEETINGS ACT. SOME CITIES OR COUNTIES HAD DIFFERENT RULES THAT THEY PUT IN PLACE FOR THEIR HFCS, BUT BY STATUTORY REQUIREMENT, UM, THOSE HFCS WERE NOT SUBJECT TO THOSE ACTS. AND SO NOW THEY ARE SPECIFICALLY STATED TO BE SUBJECT TO THE OPEN MEETINGS ACT AND PUBLIC INFORMATION ACT. SAME AS OTHER, UM, CITIES AND COUNTIES IN TEXAS. THERE'S ALSO, UM, ADDED COMPLIANCE REQUIREMENTS FOR REPORTING. UM, THE REPORTING NOW HAS TO BE MADE TO, UM, THE T-D-H-C-A IN ADDITION TO UNDERWRITING ASSESSMENT AND PUBLICATION. AND THE UNDERWRITING ASSESSMENT BASICALLY IS TO ENSURE THAT THE, UM, AFFORDABILITY REQUIREMENTS ARE MET. AND, UM, THAT PARTICULAR UNDERWRITING ASSESSMENT HAS TO BE PUBLISHED ON THE HFCS WEBSITE. AND THERE ARE ALSO NOW ANNUAL AUDIT REQUIREMENTS THAT HAVE TO BE SUBMITTED TO T-D-H-C-A. UM, THE HFC PROPERTIES NOW HAVE TO HAVE, UM, AUDITS AND THE AUDITOR CANNOT, UM, AUDIT MORE THAN THREE YEARS IN A ROW, THREE YEARS IN A ROW. UM, IF, IF THERE'S AN AUDIT MORE THAN THREE YEARS IN A ROW BY THE SAME AUDITOR, THEY HAVE TO, UH, SWITCH AUDITORS. AND THERE HAVE TO BE, HAS TO BE A TWO YEAR GAP BEFORE THAT SAME AUDITOR CAN COME BACK AND AUDIT AGAIN FOR THE HFC. UM, SO THAT'S ANOTHER FAIL SAFE, UM, THAT THE HB 21 HAS PUT INTO PLACE TO ENSURE THAT THE, UM, INTEGRITY OF THE AUDITS. AND SO WITH ALL OF THESE ADDITIONAL REQUIREMENTS, UM, EACH YEAR, THE HFC PROPERTY, THE DEVELOPMENT HAS TO COME INTO COMPLIANCE. AND THAT COMPLIANCE IS CHECKED AND MONITORED BY T-D-H-C-A AND THE DEVELOPMENT MAY LOSE ITS PROPERTY TAX BASE EXEMPTION IF THEY ARE DEEMED TO BE NONCOMPLIANT. SO THOSE ARE THE MAIN CHANGES, THE HB 21 AND SORT OF THE ADDITIONAL REQUIREMENTS THAT ARE PUT IN PLACE, PARTICULARLY GRAND PRAIRIE HFC BYLAWS. UM, THE GRAND PRAIRIE HFC IS GOVERNED BY THE ARTICLES OF INCORPORATION AND THE BYLAWS. UM, AS YOU KNOW, THE HFC WAS CREATED BACK IN 1980. AND THE PURPOSE WE MENTIONED EARLIER, THE BYLAWS GIVE SPECIFIC RULES AND REQUIREMENTS ON THE STRUCTURE, THE RULES, AND THEN PROCEDURES NECESSARY FOR MANAGEMENT AND DECISION MAKING OF THE BOARD. SO THE BOARDS, UM, IS GUIDED BY THEIR BYLAWS AND SORT OF WHAT THEIR PROCEDURES ARE. THE BOARD OF DIRECTORS, ALL POWERS OF THE HSC IS VESTED IN THE BOARD OF DIRECTORS. UM, JUST A LITTLE BIT ON THE MAKEUP OF THE BOARD. ALL BOARD MEMBERS MUST BE RESIDENTS OF THE LOCAL GOVERNMENT. SO THEY HAVE TO BE RESIDENTS OF THE CITY. THEY CAN BE A MEMBER OF THE GOVERNING BODY, AN OFFICER OR EMPLOYEE OF THE CITY AS WELL. CURRENTLY, THE, UM, HFC, THE GRAND PRAIRIE HFC IS, UH, MADE UP OF A FIVE MEMBER BOARD. AND I HAVE LISTED HERE THE CURRENT BOARD MEMBERS FOR YOU. JUST SO YOU KNOW WHO THEY ARE. IF YOU'RE NOT AWARE, THE APPOINTMENTS, MEMBERS OF THE BOARD ARE APPOINTED BY THE CITY COUNCIL AND PER THEIR ARTICLES OF INCORPORATION MAY BE REMOVED BY THE COUNCIL FOR CAUSE OR AT WILL BY MAJORITY VOTE OF THE COUNCIL, CONTINUE WITH THE BOARD. UH, MEMBERS OF THE BOARD DO NOT RECEIVE COMPENSATION. THEY ARE REIMBURSED FOR ACTUAL EXPENSES INCURRED AND PERFORMING THEIR DUTIES, BUT THEY ARE NOT SPECIFICALLY COMPENSATED. UM, AND THEN THE MEETINGS, I MENTIONED EARLIER THAT THE REQUIREMENT FOR THE BOARDS TO BE BE SUBJECT TO OPEN MEETINGS ACT HAS NOW BEEN CODIFIED BY HB 21. UM, THIS IS A GRAND PRAIRIE HOUSING FINANCE IN STRUCTURE. AND I WILL ASK, UM, ESTHER TO COME UP AND DISCUSS THIS INFORMATION WITH YOU. GOOD AFTERNOON. GOOD AFTERNOON, MAYOR COUNCIL. OKAY. UH, I'M MR. COLEMAN. I'M THE HOUSING DIRECTOR. I TYPICALLY ATTEND ALL OF THE BOARD MEETINGS OF THE HFC. AS YOU KNOW, UH, THE HOUSING DIRECTOR SERVES AS THE STAFF LIAISON. SO, UM, IN MY ABSENCE OR IF I WERE TO, UH, BE REMOVED FROM THE POSITION OR RETIRE ANY OF THOSE THINGS, WHO, WHOEVER HOLDS THE POSITION OF THE HOUSING DIRECTOR SERVES AS THE HOUSING LIAISON. UM, THE HOUSING FINANCE CORPORATION, AS I STATED, [00:10:01] MEET EVERY, UM, THIRD TUESDAY OF EACH MONTH. UH, THE TYPES OF PROJECTS THAT ARE CURRENTLY, UH, THE HFC AS ADMINISTERED WOULD BE NEW CONSTRUCTION AT THE TIME. AT THIS PARTICULAR TIME, THEY DO HAVE NINE CLOSING. UH, THE ONES THAT YOU HAVE LISTED HERE, THE LE PASS, WHICH IS UNDER CONSTRUCTION, WHICH IS A NEW CONSTRUCTION, IS THE ONLY ONE MISSING. AND THE ADDITIONAL, UH, SIX WITH PRAIRIE GATE PHASE ONE AND TWO BEING SEVEN AND EIGHT, AND THE LA PAZ BEING, UM, THE NINTH, UH, THERE ARE THREE, UH, PROFESSIONAL SERVICES THAT THEY HAVE. THEY HAVE TO REPRESENT THEM AS LEGAL COUNSEL, COACH AND ROSE. UM, ALSO THEY HAVE A FAN, A FINANCIAL ADVISOR, HILLTOP SECURITIES, AND WITH HILLTOP SECURITIES, THEY ARE RESPONSIBLE FOR, UM, CALCULATING THE PUBLIC BENEFIT, WHICH SETS FORTH THE FINANCIAL STRUCTURE. AND THEN OF COURSE, COAT ROSE WILL COME IN AND REVIEW AND ACTUALLY SERVE AS THEIR LEGAL COUNSEL IN THE CLOSING OF THOSE DEALS WITH THAT, THAT STRUCTURE. UM, AND THEN YOU HAVE THEIR ASSET MANAGER JACKSON PROPERTIES. SO THAT, THAT'S USUALLY THEIR, UH, STRUCTURE THERE. AND I'M GONNA STAND HERE JUST IN CASE YOU HAVE QUESTIONS AFTER SHE COMPLETES IT. OKAY. UM, THAT'S THE, UH, END OF THE, JUST THE STRUCTURED, UM, INFORMATION. SO WE'RE HAPPY TO TAKE ANY QUESTIONS. COUNCIL MEMBER, PASTOR. AYE. AYE, UH, THE HFC PROPERTIES YOU GOT LISTED OVER HERE, THOSE ARE THE ONES THAT ARE USING THE TAX, RIGHT? YES. THEY, THEY ARE CURRENTLY RECEIVING THE YEAH, YOU'VE GOT A LOT OF OTHER PROPERTIES. YOU'VE GOT THE APARTMENTS AND THE, AND THE MOUNTAIN CREEK, YOU KNOW, SINCE YOU'VE GOT OTHER PROPERTIES THAT THEY, THAT THE H FFC HAS WHERE WE HAVE NO, NO. THE ONES THAT ARE LISTED HERE ARE THE ONLY ONES THAT THEY HAVE CLOSED AND ARE NOW RECEIVING TAX ABATEMENTS. NO, THAT'S NOT HIS QUESTION. THAT'S NOT HIS QUESTION. NO. BUT WE, WE OWN A LOT OF OTHER PROPER, THEY OWN A LOT OF OTHER PROPERTIES. THE HFC? NO, THE HFC OWNS THE, UH, COTTON CREEK, WILLOW TREE AND MOUNTAIN CREEK. SO THOSE ARE THE OTHER THREE PROPERTIES. SO, AND UH, THOSE ARE ON THAT NO, THOSE ARE NOT TAX EXEMPT? NO. THEY'RE PAYING TAXES RIGHT NOW. BUT COUNSEL, THOSE THREE NEEDED TO BE ADDED TO THE LIST OF PROPERTIES OWNED. THE TWO OF 'EM HAVE BEEN OWNED FOR A LONG, LONG, LONG, LONG TIME. YEAH. THEN CREEK GOT BUILT WHILE IT STARTED WHILE, YEAH. OKAY. AND THEN, UH, ME TOO. WERE WE ON IT TOGETHER WHEN IT GOT BUILT? YOU THE ONLY ONE GOT, I THINK STARTED. YEAH. OKAY. IT'S, UH, THE, UH, CAN YOU SOMEHOW GET ME A BREAKDOWN OF UH, WHICH ONES OF THESE ARE IN COUNTY, WHICH IN DALLAS COUNTY? YES, I CAN. UH, AND THEN I THINK THAT'S ALL I GOT. TELL I REMEMBER. I'D LIKE YOU TO MENTION WHAT YOU SENT ME TODAY. WELL, I THINK THAT WOULD BE SOMETHING THAT GOES WITH THE MAIL RATHER THAN I JUST, I'M PRESENTATION. I ASKING HIM ES HER QUESTIONS. OKAY. JUST ASK ANY QUESTION. I I THINK THIS IS IMPORTANT. SHE REALLY NEED, I GOT TWO OR THREE OF 'EM HERE. THAT, UH, FIRST THING IS DO WE KNOW IF DALLAS COUNTY ITSELF HAS S AGENCY? YES, THEY DO. YES, THEY DO. I'M SORRY. MAY BE, UH, THAT MAY BE ABOVE THE WORKERS. YEAH. UM, ACCORDING TO MY STATE REP, UM, A COUPLE OF THINGS, UH, THE HF THE PROPERTIES THAT ARE UNDER THIS HFC RULE NOUN HAVE HAVE UNTIL 2035 TO COME INTO COMPLIANCE WITH THE, UH, LOW INCOME RENT THING BECAUSE THEY ALREADY HAVE PEOPLE IN THERE AND THEY NOT SUPPOSED TO HAVE TO KICK THEM OUT TO PUT IN NEW PEOPLE. SO THEY'VE GOT 10 YEARS TO COME INTO COMPLIANCE. AND DURING THOSE 10 YEARS, THEY'RE ALSO STILL ARCHITECTURAL. SO THEY'RE NOT SUPPLYING, DON'T HAVE TO SUPPLY WORKFORCE WITH PROPERTY. AND THEY GET TO STAY OFF THE TAX ROLL FOR THOSE 10 YEARS. AND THEN THEY HAVE TO MEET THE RULES AND THEY COME BACK ON THE TAX ROLLS AT THE [00:15:01] END OF, IF THEY DON'T MEET THE RULES, IF THEY MEET THE RULES, THEY CAN STAY OFF THE TAX ROLL FOR ETERNITY. I DID NOT KNOW THAT. IS THAT UNDER THE CURRENT NEW BILL? THAT'S UNDER THE NEW BILL? ACCORDING TO JESSICA'S OFFICE, I DID NOT KNOW THAT. WELL, PART PART OF THAT IS IT DEPENDS ON WHEN THEY WERE ACTUALLY ACQUIRED. IF THEY WERE ACQUIRED PRIOR TO, PRIOR TO THE, THE, UM, LAW GOING INTO EFFECT, UH, VERSUS IF THEY WERE ACQUIRED AFTER. SO, AND THERE IS A CHANGE, A POTENTIAL CHANGE IS, UM, IF THERE IS EITHER A TRANSFER AND OWNERSHIP, UM, A TRANSFER TITLE OR ANY TYPE OF BENEFICIAL INTEREST, THEN THAT KICKS INTO THAT WHERE THEY DON'T HAVE THE FULL 10 YEARS. YES. AND THEN THE SECOND THING I'VE GOT IS THE, ACCORDING TO HER, HER OFFICE THAT THE EXISTING TRAVELING HMCS THAT ARE EXISTING NOW HAVE UNTIL 1 1 27 TO OBTAIN LOCAL APPROVAL TO CONTINUE, OR THEY RISK LOSING THEIR TAX EXEMPT. THAT IS THE CURRENT STATUS. HOWEVER, THAT IS BEING LITIGATED CURRENTLY. SO WE DON'T HAVE A, WE NEED TO WATCH THAT. YES. BECAUSE THE WAY I UNDERSTOOD AFTER TONY AND I GOT THIS MESSAGE WAS IF THE CITY OF GRAND PRAIRIE NOR DALLAS COUNTY HFC, NO, THE CITY OF GRAND PRAIRIE OR DALLAS COUNTY COMMISSIONER COURT APPROVES IT APPROVAL. THEY COME YEAH, YOU CAN APPROVE IF, IF YOU DECIDE TO APPROVE IT. YES. YEAH. YEAH. BUT BUT IF, BUT IF YOU DECIDE NOT TO APPROVE IT, YES. THAT'S THE PART NOT TO APPROVE IT, THEN YOU THAT'S WHAT PROBABLY UNDER LITIGATION, THAT'S WHAT'S UNDER LITIGATION. SO THAT'S, BUT THAT IS THE RULE AS IT SAYS RIGHT NOW AS IT STANDS. RIGHT. WELL, BUT THAT'S STILL SUBJECT TO LITIGATION. IF THEY'VE GOT NO APPROVAL, IT WOULD, THEY WON, THE TAX EXEMPT WOULD GO AWAY IF THEY GOT NO APPROVAL. THAT'S WHY THEY'RE LITIGATING IT. BUT THEN AGAIN, NOW IF DALLAS COUNTY HAS ONE THAT MAY HAVE BROUGHT IT WORKS, THEY MAY, IF THEY MAY HAVE APPROVED IT, SCREW US OUT OF IT. PROVE US OUTTA IT. YES. BUT IS IT NOW IT'S COUNTY COMMISSIONER'S COURT OR IN THE CITY OF GRAND PRAIRIE COMMISSIONER'S COURT? THAT TO BE, THAT WOULD BE ANOTHER LEGAL QUESTION. WE NEED TO FIGURE THAT ONE OUT UNTIL 2027. IT'S UNTIL 2027. THINGS THAT WE DIDN'T REALLY KNOW. WE DIDN'T, THEY CAME UP, THEY GOT BACK TO ME AND THEN THEY GAVE ME THE, UH, AFFORDABILITY RULES. AND UH, YOU KNOW, SOMEBODY SITS AROUND FOR 10 YEARS OFF OF TAX ROLL AND THEN THEY SAY, WELL I CAN'T DO A, THESE AFFORDABILITY RULES, I'LL JUST GO BACK AND PAYING TAXES THEY 10 YEARS. YEP. YEP. THANK THAT'S WHYT. THAT'S WHY WE'RE HAPPY. WHICH TO YOU TO USE CRAIG FLINTSTONE'S WORDS, THAT'S AN EXTINCT POSSIBILITY. IT IS A POSSIBILITY WHETHER OR NOT THAT WILL OCCUR. UH, JESSICA GON OFFICE REAL QUICK TO GET ANSWERS BACK. THANK, I APPRECIATE IT. AND WE NEED TO FOLLOW UP ON ALL THOSE. AND JUST TO BE HONEST WITH YOU, CHRIS TURNER'S OFFICE, NEVER BACK. SO I HAD A QUESTION JUST MORE GENERALLY ABOUT HOW THEY MAKE DECISIONS. I SEE HERE JUST THE GENERAL MAKING DECISIONS FOR THE PUBLIC BENEFIT. BUT WHEN THESE OPPORTUNITIES COME IN MY AREA, NEW ROCK, WESTCHESTER MM-HMM . AND PRAIRIE GATE ONE AND TWO, UH, WERE ACQUIRED OR AFFECTED. SO WHAT, WHAT WOULD BE THE REASON MAYBE IN THE BYLAWS THAT THEY WOULD NOT MOVE ON AN OFFER LIKE THIS? AND HOW ARE THEY MAKING THESE DECISIONS? DO YOU TAKE IT? OKAY. WELL, GENERALLY, AS I UNDERSTAND IT, UM, THEY START WITH THE FINANCIAL ADVISORS AND THE FINANCIAL ADVISORS GO THROUGH AND DO A PUBLIC BENEFIT ANALYSIS RATIO AS, SO YOU KNOW, WHETHER OR NOT THIS IS MEETING THE AFFORDABILITY REQUIREMENTS. UM, ARE THERE OTHER NEGOTIATION POINTS THAT THEY CAN BASICALLY PUT INTO THE DEAL, UH, TO MAKE SURE THAT, UM, THE AFFORDABILITY REQUIREMENTS ARE BEING MET, BUT ALSO THAT IT'S A PUBLIC BENEFIT. SO THEY START GENERALLY WITH THE FINANCIAL ADVISORS AND THEN THE FINANCIAL ADVISORS DO THAT BENEFIT ANALYSIS AND THEN THAT'S WHAT THEY BRING TO THE BOARD. SO THAT'S KIND OF THEIR STARTING POINT. SO I WOULD LOVE TO LEARN ABOUT THE PUBLIC BENEFIT ANALYSIS. OKAY. BECAUSE I THINK THAT WOULD REALLY DEMYSTIFY WHAT'S GOING ON. OKAY. SO THAT, THAT'S SOMETHING WE CAN CONTINUE BRING, WE HAVE TO REMEMBER THEIR CHARGE AND THEIR CHARGER IS PROVIDE LOW INCOME HOUSING. WHAT, WHAT'S YOUR POINT ON TO CLEAR THINGS UP? WHERE YOU REFERRING TO YOUR UNDERSTANDING OF THE PRESENTATION THERE SOMETHING ELSE? NO, UH, SO NOT A PART OF OUR PRESENTATION IS THE PUBLIC BENEFIT ANALYSIS PROCESS. UH, SO I WANTED TO LEARN ABOUT THAT. BUT THAT, I DON'T THINK THAT WILL BE FOR ANOTHER DAY. SOUNDS LIKE. YES. YEAH. OKAY. WE CAN BRING THAT UP. SO I HAVE A QUESTION. UH, HOW MANY PROPERTIES DO WE HAVE IN THE CITY OF GRAND PRAIRIE THAT ARE OWNED BY AND TRAVELING? YEAH, [00:20:01] QUITE A FEW. I THINK WE, WE CURRENTLY HAVE AT LEAST FIVE, I THINK MOUNTAIN CREEK ? NO, NOT THAT WE KNOW OF. THAT'S NOT SOMETHING THEY HAVE TO, BUT BASED ON THE RESEARCH THAT WAS, UH, PROVIDED BY THE, UH, HILLTOP SECURITIES, WE CURRENTLY HAVE 1, 2, 3, 4 TRAVELING HFCS THAT INCLUDE, UH, VARIOUS PROPERTIES, LIKE FIVE PROPERTIES, AT LEAST FIVE. DO YOU KNOW THE NAME OF THE TRAVELING H HR HFCS? I DO. UH, ONE IS PLEASANT PLEASANTON, HFC, ONE IS PEGAS, HFC AND THE OTHER ONE. ONE, YEAH. AND THE OTHER ONE IS CAMERON COUNTY. HFC. AND, AND YOU BROWNVILLE, THAT'S WHY THEY CALL NOW STAFF. UM, THE APARTMENTS THAT WE TRIED TO BUY. SO LETTING THE WORKFORCE DEVELOPMENT PEOPLE BUY, THEY'RE ON, THAT'S DALLAS LAKE RIGHT BY HILL STREET. IT'S NOT OWNED BY ANY TRAVELING HFC, BUT IT WAS A WORKFORCE DEVELOPMENT PROCUREMENT. MY UNDERSTANDING IS, AND IT CAME OFF THE TAX ROLL TWO, UH, THE FOURTH, UH, THERE IT IS JUST THOSE THREE TRAVELING HFCS. BUT THEY MAY HAVE BETWEEN THEM, UH, FOUR OR FIVE PROPERTIES. DO YOU KNOW WHAT ANY YES, I DO. I DO. UM, PLEASANTON HAS THE BELMONT, WHICH IS 1920 WEST TARRANT ROAD IN GRAND PRAIRIE, DALLAS COUNTY. UH, THEY ALSO HAVE THE SPRINGS AT GRAND PRAIRIE APARTMENT, UH, WHICH IS ON SARAH JANE, 2136. SARAH JANE PEGAS HAS THE JEFFERSON VINE, WHICH IS 1225 WEST INTERSTATE 20. AND CAMERON COUNTY HAS THE LOFTS AT GRAND PRAIRIE, PHASE ONE, NEW CONSTRUCTION AT, UH, 1101 NORTH DAY, UH, MEYER ROAD ON, UH, GRAND PRAIRIE. AND THEN THE MAVERICK COUNTY, WHICH HAD THE HOMES OF MOUNTAIN CREEK, WHICH IS OFFICIALLY DALLAS, THE CITY OF DALLAS MOUNTAIN CREEK IS CONSIDERED TO BE IN THE CITY OF DALLAS. MOST OF YOUR TO THE QUESTION, WE DON'T CARE ABOUT IT. NO, IT DOESN'T AFFECT US, UH, MOST. UH, TO YOUR QUESTION REGARDING THE, UH, BENEFITS ANALYSIS, IT'S PART OF THE FINANCING, UH, THAT FEE STRUCTURE THAT DEVELOPER TAKES TO THE BANK AND IT AFFECTS THEIR FINANCING AND LONGING. UM, AND SO IT LOOKS AT, BASED ON THE WORKFORCE, UM, FORMAT. SO ITS, UH, AT LEAST 50% OF THE UNITS HAVE TO BE AT 80% ARE BELOW. AND SO A LOT OF THEM CLOSED WITH, UM, 80% OF THEIR UNITS BEING AT 80% AND 20% AT MARKET. AND FROM THAT, THEY PROJECT A FEE STRUCTURE, UH, BASED ON THE REDUCED RENT AND WHAT THE TAX ABATEMENT WILL BE TAKEN OFF THE PROGRAM. AND TYPICALLY THEY OFFER TO THE DIFFERENT HFCS, 65% OF THEIR GROUND LEASE. AND FROM THAT WE GET, UH, THE HFC OFFERS THE CITY 35% OF THEIR 65%. AND IN SOME CASES IT'S THEIR MANAGEMENT FEE AS WELL. YES, MA'AM. SO THE PUBLIC BENEFIT ANALYSIS SOUNDS LIKE THAT THIS IS THE MEAT AND POTATOES OF HOW THE DECISION IS MADE. SO LET'S SAY, UH, THE CONSULTANTS BRING BACK AN ANALYSIS THAT SHOWS THIS IS FAVORABLE FOR PUBLIC BENEFIT. MM-HMM . DOES THE HFC STILL HAVE THE OPTION TO DECLINE? OH YES. ABSOLUTELY. THEY ALWAYS HAVE THE OPTION. AND WE ARE DECLINING. 'CAUSE WHEN IT GETS TO US, IT'S AN APPROVAL. SO WE DON'T HEAR ABOUT THE NO, WE DON'T GET TO DECLINE. NO, WE DON'T GET TO DECLINE. I UNDERSTAND THAT. I'M SAYING THAT BY THE TIME WE SEE IT, YES. WE'RE NOT HEARING ABOUT WHEN THE HC, THE ONLY TIME WE HEAR ABOUT IS WHEN IT'S BEEN APPROVED AND THERE'S A CLOSING. IF THEY WANT TO SEND THIS SUBPOENA, IT WOULD'VE NEVER HIT OUR AGENDA. SO FOR US, WE DON'T KNOW KIND OF WHAT THE RATIO IS, HOW OFTEN THESE APPLICATIONS ARE COMING IN AND, AND BEING DENIED OR APPROVED. THAT WOULD BE HELPFUL INFORMATION. HOWEVER, IF SOMEBODY WAS TRYING TO [00:25:01] PEDAL THEMSELVES TO AN HFC LIKE THAT AND OUR IN THE PAST AND OURS DECLINED, THEY JUST PEDAL TO ONE OF THESE OTHER ONES SHE'S TALKING ABOUT. YEAH. AND SO I THINK, I THINK OURS WAS KIND OF BUYING UP SOME JUST TO KEEP OTHER PEOPLE GETTING IT. IS THAT TRUE, MR. YES. AND AND THAT WAS TYPICALLY IN WORKFORCE THAT HAPPENED WITH THE HILL STREET. UH, THE VINE IS THE ONE I I CAN RECALL THEY COULD OFFER IT TO PECOS OR SOMEBODY AND SAID, WE'RE GOING TO GIVE IT TO THEM. YOU WON'T GET ANYTHING UNLESS Y'ALL BUY IT. BUT WHAT WAS PRESENTED TO THE HC AND THEIR DEFENSE, WHAT WAS PRESENTED TO THEM WAS NOT A WORKFORCE DEAL. THEY, THEY LEFT THE HFC AFTER THE HFC DID DENY, UM, IT WAS A BOND, UH, TYPE OF, UH, PROJECT. AND THE HSC DID DENY, BUT WHAT THEY END UP, UH, WORKING WITH PEGAS WAS A WORKFORCE. THEY NEVER OFFERED THE WORKFORCE DEAL TO THE HSC. SORRY. OKAY. AND IT WAS A WORKFORCE DEAL THAT THEY DIDN'T GO TO LAKE RIDGE. YEAH. AND, AND NEGOTIATED WITH THE FIRE, BUT THEY CHOSE THEM INSTEAD. AND WITH THE NEW AUDIT REQUIREMENTS, UM, THE REPORTING WILL NOW BE SUBMITTED TO THE COUNCIL. SO YOU'LL HAVE AN OPPORTUNITY TO LOOK AT THOSE, UM, WHEN THEY COME THROUGH. SO THE TRAVELING, I, UH, H HFCS, BASED ON WHAT IT WAS EXPLAINED TO ME, UM, IT, IT REALLY LIMITS, REALLY SEVERELY IMPACTS WHAT THEY CAN DO IN, IN LOCAL COMMUNITIES. AND THAT'S WHY ALL THE CITIES WENT DOWN THERE AND SUPPORTED THE NEW BILL. AND I THINK WE NEED TO LOOK, KEEP LOOKING AT THAT 1 27 DAY TO SEE WHAT HAPPENS. UM, YEAH. THAT, THAT COULD BE, IF YOU SEE HOW THAT WORKS, THAT WOULD HELP. THAT WOULD, THAT WOULD DRASTICALLY. SO JUST MAKE SURE I UNDERSTAND THIS. WHEN YOU, IF THE HFC PURCHASE A PROPERTY TODAY COMES OFF THE TEXTUAL, STAY WITH THAT, NOT PERCENTAGES WHO GIVE WHAT IT COMES OFF THE TAX ROLL, RIGHT? MM-HMM . YES. YES. OKAY. 10 YEARS FROM NOW, THEY CAN RENEW THAT. IF THEY OWN THE PROPERTY FOR AN IN DEFINITE AMOUNT OF 30 YEARS, YES, THEY CAN. IT'S ALREADY, YEAH. IT'S ALREADY IN A DEFINITE AMOUNT OF YEARS. YEAH. AND I WASN'T AWARE OF THAT. I THOUGHT IT WAS JUST 10 YEARS. THAT'S CHANGED. IT HAS CHANGED. YEAH. YEAH. THEY CAN DO IT LONGER, BUT MARKET USUALLY DICTATES A LOT OF THAT. OWNERSHIP CHANGES HANDS. WE COULD BRING IT BACK INTO THE CITY. YES. IF OWNERSHIP CHANGES HANDS, THEN YOU GET TO LOOK AT IT AGAIN BECAUSE IT IT TRIGGER, IT TRIGGERS THE REQUIREMENTS AGAIN. YEAH. SO IF SOMEONE PURCHASED SOMETHING JANUARY 1ST OF THIS YEAR, THEY HAVE IT FOR NINE, NINE YEARS. IF WE LOOK AT 99 YEARS, 200 IF THE GROUND LEASE YEAH. MOST OF 'EM HAVE GROUND LEASE. YES. BETTER. 99 YEARS THEY MET ALL THESE REQUIREMENTS. YES. SO DOES PAYMENT IN LIEU OF TAXES, THIS, YOU MAY NOT BE ABLE TO ANSWER THIS. DOES IT GO AGAINST THE CAP OR NOT? NO, IT'S PAID INTO THE GENERAL FUND. DOES IT GO AGAINST THE CAP? I DON'T KNOW HOW TO ANSWER THAT QUESTION. WE'LL HAVE TO USE RESEARCH. I I WANT TO KNOW AN ANSWER TO THAT. OKAY. DO Y'ALL UNDERSTAND MY QUESTION? I DON'T. IF THE PROPERTY TAX, IT GOES AGAINST THE CAP MM-HMM . THE THREE AND A HALF PERCENT CAP THAT THEY'RE TRYING TO REDUCE. TWO AND A HALF OR ONE. I'M ASKING IF THAT PAYMENT IS LOSE GOES AGAINST THE CAP. GOOD QUESTION. I'M THINKING IT MAY NOT. WE NEED TO FIND OUT, BUT WE NEED TO FIND OUT. OKAY. YOU KNOW WHY I'M ASKING THAT? YES. WE'RE GONNA NEED THINGS THAT DON'T GO AGAINST THE CAP IN THE FUTURE, SIR. UNFORTUNATELY, IT IS NOT A LOT OF MONEY. IT'S NOT A LOT OF MONEY. BUT IF IT GOES AGAINST IT, Y Y'ALL UNDERSTAND THE QUESTION. I, I'M, WE'VE GOT TOO MANY OF 'EM OWNED BY HFCS, TO BE BLUNT. BUT I, I STILL LIKE TO KNOW WHETHER THAT PAYMENT BLEW ATTACHED TO GOES AGAINST THE CAP OR NOT. YEAH. AND IT'S, IT IS JUST, JUST FOR EVERYBODY TO UNDERSTAND. IT'S ONLY OUR LOCAL HHFC THAT THAT'S THE PAYMENTS THAT HAS AGREED AMONG THEMSELVES TO MAKE THAT PAYMENT TO A TAXES. THEY DON'T HAVE TO DO THAT. NO. SO IT'S, YOU KNOW, THE OTHER ONES OBVIOUSLY ARE NOT DOING THAT. AND SO, YOU KNOW, I'M NOT GOING, EVEN IF IT'S JUST A LITTLE ITALY AMOUNT FROM THAT ON ONE OF 'EM, ONE OF IT'S 3,500 BUCKS A YEAR, WE KIND OF USE THIS IT, [00:30:01] BUT YOU KNOW, I'M GOING TO GIVE ALL FIVE OF 'EM CREDIT FOR AT LEAST TRYING. THE OTHER GUYS JUST TOLD US TO GO SAYING, YEAH, I DON'T DISAGREE WITH THEM TRYING, BUT, AND WE ALL KNOW WE'RE STILL TALKING ABOUT THE ELEPHANT IN THE ROOM. WE'RE SITTING AROUND THE REAR. WHY WE HAVING THIS UNTIL A LATER DATE TO HAVE A TRUE, HONEST DISCUSSION. I DO AGREE THAT 35% IS, IT WAS AGREED UPON. BUT WE KNOW WHAT Y'ALL, Y'ALL WRITTEN MY LETTER. YOU'VE HAD AN OPPORTUNITY TO READ WHAT I WAS SEEING. THE PUBLIC HAS NOT, AND WE ARE, IT'S NOT OUT THERE. IT'S FOR US TO MAKE A DECISION ON WHAT WE NEED TO DO BECAUSE IT AFFECTS THE BOTTOM LINE. WHETHER, I THINK YOU HAVE A VERY GOOD QUESTION. DOES IT AFFECT THE CAP? DIDN'T EVEN THINK ABOUT THAT. BUT IT DOES MAKE SENSE. HOW DO WE MOVE AND NAVIGATE IN THE FUTURE? AND WE HAVE DEADLINES COMING UP AND NOW I BELIEVE ALL THAT ARE THAT'S HERE HAVE A BETTER UNDERSTANDING OF HOW THE HFC OPERATES WITH THE NEW LAW BECAUSE, UH, WE DID THINK IT WAS GONNA, IT IT WAS 10 YEARS. NOW IT'S, IT'S A PERPETUITY. AS LONG AS I OWN THE PROPERTY, I CAN TAKE THIS BREAK. AND, AND IF IT IMPACTS OUR ABILITY TO GOVERN THE CITY THE WAY WE SHOULD GOVERN, BECAUSE THAT'S LOST REVENUES, WHETHER IT'S ONE APARTMENT OR 50 APARTMENTS, IT'S GONNA AFFECT, AFFECT US. SO, AND WITH THAT SAID, IF YOU DON'T MIND, MAYOR, FOR ITEM NUMBER NINE TONIGHT TO TABLE THAT UNTIL THE OTHER COUNCIL MEMBERS ARE HERE, THEY CAN WEIGH IN THE SESSION. I DON'T FIND THAT SINCE THERE'S TWO MISSING, UM, USING A PROMOTION. OKAY. UM, THE ADEQUATE QUESTION, UM, THE PRAIRIE GATE A PARTY, DO WE OWN IT? THE HFC ON THE FOOT? SO THEY HAVE 50%. NO, THEY ONLY, THEY ONLY OWN 1%. THAT'S ALL THEY HAVE TO ANY, THEY CAN UTILIZE WHATEVER BENEFITS WITH JUST THE 1% OF OWNERSHIP. H JUST CLARIFY 1%. JUST TO, TO CLARIFY, THE HFC ACTUALLY OWNS THE PROPERTY AND THE DEVELOPER OWNS THE IMPROVEMENTS ON THE PROPERTY. SO THE LAND, SO THE DEVELOPER HAS A, A LEASEHOLD INTEREST IN THE PROJECT. IS THAT WHAT YES. THEY WERE TALKING ABOUT. IS THAT LONG TERM LAND LEASE? IT'S A LONG TERM LAND LEASE NOW. OKAY. LET'S BE PERFECTLY CLEAR. WHETHER WE LIKE WHAT THEY DO OR THEY DON'T DO, WE CANNOT INSTRUCT THEM TO DO ANYTHING. THEY ARE AN INDEPENDENT BOARD, JUST LIKE THE SPORTS COURT IS. WE DON'T TAKE DIRECTION FROM THE COUNCIL, NOR DO WE ASK Y'ALL WHAT DIRECTION TO TAKE BILL. TELL ME I'M WRONG IF I'M BUT HAVEN'T HASN'T. RHSC DROPPED A FEW DOLLARS INTO THE BUCKET FOREVER FOR THE, UH, APARTMENTS THAT THEY ALREADY HAD BEFORE ALL THIS CAME ALONG. DIDN'T THEY ALWAYS GIVE US A LITTLE FOR YES. CONCRETE? CONCRETE DID NOT DEAL. THEY DIDN'T. BUT THEY'RE THE OLD, THEY'RE THE LONG, THEY'RE THE LONG TERM OWNER. NOW THOSE TWO, THEY OWN MORE THAN THE LANDS. THEY OWN THE LAND. THEY, THEY OWN THE WHOLE THING. THAT'S DIFFERENT. THOSE TWO APARTMENTS. AND THEY HAVE AN AGREEMENT WITH THE FEDERAL GOVERNMENT THAT WAS NEGOTIATED BACK, BACK WHEN ON THERE. AND THE HC WHERE THE MONEY HAS TO GO BACK INTO THE MAINTENANCE MAKE INTO YEAH, THAT'S CORRECT. THE HCA HUNDRED PERCENT OF THE MOUNT CREEK ASSISTED LIVING. YEAH, THAT'S CORRECT. CREEK CITY FOR THE BAILOUT. RIGHT. BUT IT'S GETTING PAID OFF REALLY FAST. UH, THEY SAYING THEY'RE WAY AHEAD. THEY PAID 1.7 MIL ON, THEY, THEY STILL OWE 300,000, BUT THEY'RE WAY AHEAD. BUT THEY'RE WAY AHEAD OF THE SCHEDULE. YES. TO MAKE THAT POINT. THAT WAS THE H THE CURRENT HFC THAT WE HAD TO BUILD OUT OF THAT DECISION MAKING. WHAT THEY MADE ALSO SO UNDERSTOOD, WHICH I WAS ON THE BOARD OF THE HSC WHEN WE MADE THAT DECISION. I I THOUGHT IT WAS A VERY GOOD DEAL FOR THE CITY. MM-HMM . PRESENTED THE DOCUMENTATIONS AT THAT TIME I WAS ON THE HSC. CHARLIE HAD PUT ME ON IT AND UH, I WAS THERE AT THE GRAND OPENING. YOU WERE THERE AT THE, YOU WERE ON THERE AT TENNESSEE. NO, I'M NOT SAYING ABOUT BUYING A BILL. I'M SAYING WHEN WE MOST RECENTLY. OH, I'M JUST TALKING ABOUT THAT WAS WHEN WE ASSUMED THE DEBT THAT HAD TO BE BAILED OUT. SO Y'ALL, I THOUGHT WE MADE A GOOD DECISION AT THE TIME. WE WERE ALL THRILLED TO HAVE IT FOR OUR CITIZENS. I TELL YOU WHAT, THE PEOPLE THAT ARE THERE IS THERE. YEAH. I GUARANTEE THAT I'M GONNA SEE [00:35:01] . WELL HERE'S THE DEAL. UM, IT'S AN INDEPENDENT CORPORATION JUST LIKE LONE STAR PARK. UH, THE ONLY DIFFERENCE IS LONE STAR PARK AND THE HFC LONE STAR PARKS ORGANIZATIONAL STRUCTURE AND THEIR BYLAWS REQUIRE FOR THE SEVEN TO BE COUNCIL MEMBERS. THERE'S NO REQUIREMENT FOR THE HSC. WE COULD HAVE ALL FIVE MEMBERS ON THE COUNCIL. WE CAN HAVE NONE. WE CAN HAVE THREE, WE CAN HAVE FOUR, WHATEVER. UM, SO THAT'S ONE OF THE MAJOR DIFFERENCES. AND THE, THOSE TWO CORPORATIONS ARE NOT GOVERNED BY OUR BOARDS OR COMMISSIONS. AND THAT'S WHY THE APPOINTMENTS ARE TWO YEAR STINTS. 'CAUSE IT'S TO PREPARE THE CORPORATION INCORPORATION PAPERS AND UH, YOU KNOW, THE LONE STAR PART FOR YOUR INFORMATION TO SHOW THE SIMILARITIES. IT OWNS THE RACETRACK, BUT THEN WE LEASE IT TO THE C CHECK THE SAWS AND, UH, SO, AND WE'RE PRETTY WELL STRUCTURED LIKE THEY ARE. WE HAVE A FINANCIAL ADVISOR AND LAWYERS THERE AT EVERY MEETING. AND ANY OTHER QUESTIONS PLUS THE HFC ALSO OPERATES CHOBO. TELL ME WHAT THE CHOBO GOT. CHODO IS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. ESTHER PROFESSIONAL. OH NO, HE STILL, HE STILL IS THE PROFESSIONAL. YEAH, HE'S STILL THE PROFESSIONAL. BUT THE, THE HFC ACTUALLY, UH, THE CHAU IS ACTUALLY AN ARM LENGTH OF THE, UH, HFC. THE CHAU HAS ITS OWN BOARD, ITS OWN CHAIRMAN. IT MAKES DECISION AS WELL INDEPENDENT OF THE HFC. UM, AND IT IS THE COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. IN FACT, THEY ARE THE BUILDERS OF ALICE COURT. SO THEY ALSO PROVIDE, UM, HOUSING FOR LOW INCOME FAMILIES. THEY WORK WITH THE HOUSING DEPARTMENT A LOT IN PROVIDING HOME OWNERSHIP TO OUR HOUSING PARTICIPANTS. FOR INFIELD HOUSING. FOR INFIELD HOUSING, YES. SOME OVER HERE ON CHURCH THREE. ANY OTHER QUESTIONS? YES MA'AM. JUST A COMMENT AND JUST A POSITIVE COMMENT IN THIS PRESENTATION. I THOUGHT IT WAS A VERY GOOD PRESENTATION AND THANK YOU SO MUCH LADIES FOR CLARIFYING A LOT OF THINGS. AND I KNOW IT'S EVER CHANGING, SO THAT'S MAKES IT EVEN MORE INTERESTING. BUT I'M A NEWBIE ON THAT BOARD AND UM, I HAVE SEEN, THE GOOD NEWS IS I HAVE SEEN MOUNTAIN CREEK FROM THE TIME I HAVE BEEN ON THERE, THE VACANCIES HAVE GONE, THE VACANCIES HAVE GONE DOWN AND IF THE OCCUPANCIES HAVE GONE UP, THEY'VE REPLACED THE, UH, CARPET IN THERE. THE PEOPLE ARE HAPPY. UH, AND IT CONTINUES TO HEAD IN THAT DIRECTION. SO I JUST WANTED TO GIVE YOU THAT LITTLE PIECE OF ADVICE BECAUSE IT WAS VERY, VERY POSITIVE TO ME. HOW MUCH DO WE GIVE THEM? 2 MILLION AND THEY PAID 1.7 BACK AND GAVE, CORRECT? YEAH, THAT'S RIGHT. WE LOAN THEM TWO GAVE THREE. YEAH, THAT'S WHERE THEY WERE. AND YOU KNOW WHAT'S, WHAT'S INTERESTING, I MEAN LET'S KEEP IN MIND ONE OF OUR TOP 10 COUNCIL PRIORITIES IS WHAT AND WHAT IS HFCS WHAT OF THEIR CHARGES. SO LET'S BE CAREFUL WHAT WE COMPLAIN ABOUT . I'M DO THEN TURN IT OVER TO, UH, MAYOR CO KE TENDER REVIEW. THANKS MAYOR. UH, COUNSEL, WE HAVE ITEMS NUMBER TWO. SO ITEM NUMBER SIX, YOU HAVE ANY QUESTIONS? I HAVE A STATEMENT I WILL BE ASKING MAYOR FROM TIM TO PUT THE FOLLOWING NAMES UP FOR CONSIDERATION TO THE SUPPORT COURT MYSELF, COUNCIL MEMBER CLEMSON, COUNCIL MEMBER LOPEZ AND JOHN STEWART. AND HE WILL BE PUTTING THAT FORTH WHEN THE ITEM COMES UP FOR CONSIDERATION IN THE PACKET FORM. THE NAMES DIFFERENT. THOSE ARE IN THE PACKET WEREN'T WHO WAS GETTING NOMINATED. THOSE IN THE PACKET WERE WHOSE TIMES WERE UP, I THOUGHT HAPPENED. OKAY. ALRIGHT. BOND. RIGHT. IT JUST GIVES WHO'S UP? CORRECT? I READ, CORRECT ME WAS A . NO, THAT THAT WASN'T QUESTION. IT'S NOT, [00:40:01] IT'S NOT. WHO MARIA? 20. IT WAS JUST WHO'S UP? YES. I'LL CONFIRM FOR YOU. NO, IT IS, I KNOW IT. WHO'S UP? 'CAUSE THEY HAVE THE DATES UP. MINE EXPIRED TWO MONTHS AGO. UH, BUT ACCORDING OF THE BYLAWS YOU SERVE UNTIL YOUR REPLACEMENT HAS BEEN NUMBER SEVEN. UH, MAYOR SIR. UH, I'D LIKE TO PULL NUMBER SIX JUST SO WE CAN GET A PRESENTATION. I THINK IT'S, I THINK IT'S IMPORTANT THAT PEOPLE KNOW. SOUNDS GOOD. AND WE'RE CALY NO, EVEN THOUGH YOU DON'T MAKE THE MOTION PART, KURT WILL OUT THERE. VOTE NUMBER NINE. ALRIGHT, HAND IT BACK OVER TO YOU MAYOR. WE'VE GOT AN EXECUTIVE SESSION SECTION 5 5 1 0.071. CONSULTATION WITH ATTORNEY LOCAL GOVERNMENT POST SEC 3 94 0 2 1 HOUSING FINANCE CORPORATION, COMPLIANCE HOUSE BILL 21 SECTION ITEM TWO, SECTION 5 5 1 1 0 7 2 DELIBERATIONS REGARDING REAL PROPERTY ITEM FIVE, SECTION 5 5 1 0 8 7 DELIBERATIONS REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. WE'RE GOING TO GO GET SUPPER AND MEET IN THE BUNKER. * 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.