* 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. GO AHEAD. [1. CALL TO ORDER AND CERTIFICATION OF A QUORUM] [00:00:04] ALL WE WILL GET OUR DEDC MEETING STARTED. MS. CAITLIN, COULD YOU PLEASE CALL ROLL AND CONFIRM THAT WE HAVE A QUORUM? PATRICK? SPZ. I'M HERE. DEREK KRICK? HERE. LINDSEY REYES? HERE. CHRIS TUCKER? HERE. CLINTON WILLIAMS. BILLY SPARKS HERE IN CALLEN. HEIDA HERE WE HAVE QUORUM. EXCELLENT. ALRIGHT, IF WE COULD RISE, MR. COURT, COULD YOU PLEASE LEAD US AN INDICATION IN THE PLEDGE? ALRIGHT. THANK YOU DERRICK. DAVID, [3. TEAM DICKINSON UPDATE] I SEE YOU HAVE SOME NEW NOMENCLATURE HERE. TEAM DICKINSON, UPDATE. I LIKE IT. YES, SIR. I JUST FEEL LIKE WE'VE GOT A LOT OF MOMENTUM. I SEE A LOT OF DIRT MOVING THROUGHOUT THE CITY, SO YEP. GET US UP TO SPEED, WHAT WE GOT GOING ON AND WHERE WE'RE AT. SURE. UH, FIRST OF ALL, I APOLOGIZE. I REALLY DID MEAN TO GIVE YOU ALL A HEADS UP ABOUT THE TEXAS PLEDGE. MY MY MISTAKE, I APOLOGIZE. UM, THAT'S JUST A MOVE TO BE CONSISTENT WITH CITY COUNCIL. UM, CONFIRM. SO JUST TRYING TO GET ALL THE MEETINGS AND THE FORMAT AND THINGS, UM, A LITTLE MORE STANDARD, UH, THE TEAM TEXAS IN PLACE OF STAFF UPDATE, UM, OR TEAM DICKINSON. SORRY, TEAM DICKINSON, BUT WE ARE A PART OF TEAM TEXAS. UM, UH, DID I SAY THAT? OKAY. ALL RIGHT. UM, UM, CHANGING IT FROM STAFF UPDATE TO TEAM DICKINSON UPDATE, UM, IS, YOU KNOW, ONE, I THINK SOMETHING I'VE ALSO SUGGESTED FOR THE CITY COUNCIL MEETINGS. UM, WE WERE TALKING ABOUT IT AT THE LAST, AFTER THE LAST COUNCIL MEETING, UM, JUST TO SHOW THAT WE REALLY ARE, WE ARE ONE TEAM. WE HAVE ONE GOAL, ALL THE DIFFERENT BOARDS AND, AND, AND INDIVIDUALS ON STAFF HERE REALLY TRULY DO WORK HAND IN HAND WITH ONE ANOTHER. UH, SO NOBODY'S REALLY ON AN ISLAND, SO WE'RE JUST TRYING TO DO, YOU KNOW, LITTLE THINGS LIKE THIS, UM, JUST TO, TO SORT OF FORWARD THAT MESSAGE, UM, OF, OF UNITY AND, AND WORKING TOGETHER. SO, UM, JUST A LITTLE, LITTLE TWEAK THERE. UM, SO, UH, ONTO MY TEAM DICKINSON UPDATE, UM, WANTED TO PUT THIS OUT FOR EVERYBODY. UH, ON THE BOARD WE DO HAVE THE SOUTHEAST HOUSTON AFTER HOURS MIXER. UM, SO THIS IS GOING TO BE AT, AT THE VFW. THIS IS, UH, THIS WAS PUT OUT BY, UM, ACTUALLY THE DMD BOARD PRESIDENT, UH, ALSO WORKS THROUGH BATON. SO SHE SENT THIS OVER. UM, THIS IS A, YOU KNOW, A BUSINESS EVENT. SO WE'RE, WE'RE GOING TO BE PUTTING OUT ON OUR FACEBOOK PAGE AND, AND HELPING TO PROMOTE THIS AS WELL. UM, YOU ALL ARE CERTAINLY IN INVITED. UH, HOPEFULLY WE'RE GONNA GET SOME OTHER BUSINESSES THERE FROM, YOU KNOW, OUTSIDE OF DICKINSON AS WELL. UH, THE ONLY THING THAT WE ASK OF YOU ALL, IF, IF, UH, IF Y'ALL JUST LET US KNOW IF YOU'RE GONNA BE ABLE TO MAKE IT, UM, BECAUSE IF WE THINK THERE'S GONNA BE THREE, THREE OR FOUR OF YOU, WE, WE NEED TO GET A POTENTIAL WALKING QUORUM NOTICE POSTED. UM, WE DO NEED TO HAVE THINGS POSTED FIVE BUSINESS DAYS IN ADVANCE. UM, SO BY THE END OF APRIL, IF YOU COULD LET US KNOW, UH, THAT WOULD BE GREAT. UM, I DO PLAN ON ATTENDING. UM, I KNOW SOME OF THE FOLKS, UH, WITHIN THE CI WITHIN CITY STAFF ARE, ARE PLANNING ON GOING, UH, AS WELL AS DO WE HAVE ANY OTHER, OKAY. UM, BUT THIS IS ALSO TOO, IF YOU DO GO, IT'S A CHANCE TO INTRODUCE YOURSELVES TO NOT ONLY OUR LOCAL BUSINESSES, BUT MAYBE SOME BUSINESSES OUTSIDE OF THE CITY. AND YOU, YOU KNOW, IF YOU DO COME AND RUN INTO THOSE FOLKS, SHARE A LITTLE BIT OF INFORMATION ABOUT THE CITY AND WHO KNOWS, WE GET A, WE GET A NEW DICKINSON BUSINESS OUT OF IT, SO, ALRIGHT, NEXT. OKAY. EDA AND WATER STREET. [00:05:01] UM, SO AS YOU ALL ARE AWARE, AS I REPORTED LAST MONTH, WE HAVE ABOUT $1.6 MILLION STILL OUTSTANDING IN REIMBURSEMENTS FROM THE EDA. UM, I AM TOLD THAT WHILE THIS PARTIAL SHUTDOWN IS CONTINUING, THAT REIMBURSEMENT PAYMENTS ARE ON PAUSE. UM, SO THIS PUTS ME OUT THERE KIND OF ON A LIMB. UM, SO WE REALLY DON'T HAVE, I DON'T EVEN HAVE AN ETA, SO WE HAD ALL OF OUR REIMBURSEMENTS WERE IN AFTER THE LAST SHUTDOWN, AND THEY GOT SO BACKED UP THAT WE ONLY GOT ONE OF OUR REIMBURSEMENTS. UM, UH, SO I, WHEN THIS COMES BACK, I DON'T KNOW WHERE WE ARE IN LINE, UH, OUR ADMINISTRATOR KEEPS PINGING THEM NOT GETTING A LOT OF INFORMATION BACK. ACTUALLY, WHAT WE'VE BEEN GETTING BACK WAS, HEY, IS YOUR GARAGE ALMOST DONE? YES, I'M ALMOST DONE. I GOTTA PAY THE REST OF THIS. AND THEY GAVE ME A BUNCH OF PAPERWORK TO FILL OUT TO CLOSE OUT THE PROJECT, BUT NO TIMELINE ON THE REIMBURSEMENTS. UM, BUT, UM, SO I, I JUST DON'T KNOW FOLKS. WHAT I DO KNOW IS WE HAVE APPROXIMATELY $650,000 LEFT TO PAY ON THE PARKING GARAGE THAT WILL BE COMING DUE VERY SOON. UM, UH, THAT, THAT IS SCHEDULED TO BE DONE. UM, I THINK TALK TO THEM TODAY. WE HAD OUR OWNERS MEETING TODAY. UH, FINAL INSPECTIONS ARE TARGETING THE WEEK OF APRIL 21ST AND THEN A CERTIFICATE OF OCCUPANCY ON 20, ON THE APRIL 28TH. UM, SO WHEN THAT HAPPENS, I'LL BE GETTING, I'LL BE GETTING A BILL. WHAT DOES THAT DO TO OUR CASH? TO, TO, TO OUR CASH? UH, PRETTY MUCH TAKES IT OUT. OKAY. SO IS THIS THE, SO I THINK WHAT WE SAID WAS WE HAD A LINE OF CREDIT THAT WE COULD TAP INTO YEAH. TO, TO, TO HELP WITH, WITH THESE KIND OF CASH SITUATIONS. SO IS THAT, IS THAT THE PLAN THAT YEAH, SO THERE, THERE'S, THERE'S A COUPLE THINGS, RIGHT? SO WE, WE CONTINUE KIND OF THROUGHOUT TO, TO GET, YOU KNOW, SOME REVENUE COMING IN, UM, FROM SALES TAX. SO I'M WORKING, FORTUNATELY THE FINANCE DIRECTOR'S NOT HERE THIS EVENING. SHE'S AT A CONFERENCE. UM, BUT WE'RE KEEPING A VERY CLOSE EYE. UM, UH, BASICALLY WE'RE LOCKED DOWN ON EXPENDITURES TO AND BEEN THAT WAY ALL OF 26, TO BE HONEST. UM, SO IT'S NOT LIKE WE DIDN'T, YOU KNOW, WE SAW THIS AS A POTENTIAL, YOU KNOW, OCCURRENCE. SO WE'VE REALLY LOCKED THINGS DOWN. UM, SO EVERYTHING HAS JUST BEEN GOING TO, YOU KNOW, OUR STANDARD OPERATIONS AND CONTRACTUAL OBLIGATIONS AND THAT'S ABOUT IT. RIGHT? BUT, SO, BUT ONCE WE PAY THIS OR THEN, THEN, THEN THOSE THINGS, THEN WE DON'T HAVE MONEY TO PAY THOSE THINGS. CORRECT? IS THAT MY UNDERSTANDING? THE LAST DISCUSSION? CORRECT. BUT WE ALSO, WE DON'T HAVE ANY, ANY MORE MAJOR CONTRACTUAL OBLIGATIONS COMING DOWN THE PIPELINE, SO WE COULD JUST BUTTON IT UP, YOU KNOW, WHICH, SO, SO OUR MONTHLY OPERATING EXPENSES PLUS THIS ARE COVERED FOR LIKE, LIKE, LIKE, LIKE WHAT, WHAT'S THE PROJECTION? ARE WE, ARE, IS IT THREE MONTHS, FOUR MONTHS? WHAT'S THE PROBABLY FIVE. ABOUT FIVE MONTHS. FIVE MONTHS. OKAY. SO IF WE GET REIMBURSEMENT WITHIN THE NEXT FIVE MONTHS, WE'LL BE OKAY IF WE DON'T. AND SO WE PROBABLY NEED TO MAKE THAT DECISION THREE, FOUR MONTHS FROM NOW SO THAT WE HAVE ENOUGH TIME TO GO EXECUTE WELL, AND PART OF IT TOO IS, YOU KNOW, WE, THE, THE, SO WE HAVE OUR, OUR ADMINISTRATIVE SERVICES AGREEMENT, UM, WHICH IS BASICALLY, YOU KNOW, WE PAY THE CITY, YOU KNOW, UH, FORGET THE, ITS ROUGHLY 400 OR 350, $400,000, UH, $350,000, UM, THROUGH THAT ADMINISTRATIVE SERVICES AGREEMENT. UH, THEY REALLY HAVE NOT BILLED US. WE DID GET SOME OF THIS CASH IN AND WE STARTED TO GET CAUGHT UP A LITTLE BIT, UM, BUT THEY HAVEN'T GOT US COMPLETELY CAUGHT UP. SO, YOU KNOW, WE WE'RE TRYING TO GET THROUGH WHAT OUR CONTRACTUAL OBLIGATIONS ARE, WHICH IS THIS, AND POT AND ELS, UH, ARE THE ONES THAT WE'RE LOOKING AT. AND THEN WE'RE GOING TO GET CAUGHT UP WITH THE CITY, UM, AND THEN SEE WHERE WE STAND. UM, SO THAT'S SORT OF THE GAME PLAN BETWEEN FINANCE AND MYSELF. SO BY, SO, SO THERE'S NOTHING IMMINENT, FOR EXAMPLE, BEFORE THE NEXT MEETING, BUT BY THE TIME WE GET TO THE NEXT MEETING, WE SHOVE A MUCH BETTER IDEA OF WHERE WE ARE WITH THE SHUTDOWN, WHERE REIMBURSEMENT LOOKS LIKE, AND THEN WHAT OUR CASH POSITION LOOKS LIKE. CORRECT. AND THEN THERE, IF WE NEED TO TAKE ACTION, WE TIME CORRECT BECAUSE, SO BY THE NEXT MEETING, WE VERY LIKELY WILL HAVE OUR FINAL PAY APP ON, ON WATER STREET AND, AND HAVE A VERY GOOD PICTURE. HOPEFULLY SOMETHING HAS HAPPENED, UM, WITH THE SHUTDOWN, UH, UM, YOU KNOW, HOPEFULLY THAT ALL GETS RESOLVED. UM, AND WE SHOULD HAVE HOPEFULLY A BETTER PICTURE, BUT I CAN'T GUARANTEE THAT I'M GONNA HAVE A LOT OF, EVEN IF THE SHUTDOWN ENDS, I CAN'T GUARANTEE [00:10:01] THAT I'M GONNA GET A RESPONSE AND INFORMATION BACK FROM THE EBI. OKAY. UM, AND ALL I'M TRYING TO FIGURE OUT IS, IS, IS, IS WHAT IS THE TIME HORIZON? WHEN, WHEN DID, WHEN DOES DECISIONS NEED TO BE MADE? SO IT SOUNDS LIKE AT LEAST FOR THE NEXT MONTH, UM, WE'RE OKAY. YEAH, I, I, I DON'T THINK THERE'S A, A, AN IMMINENT DECISION. UM, GOING BACK AND LOOKING AT IT. UM, YOU KNOW, I, I DID GIVE EVERYBODY A HEADS UP A, HEY, YOU KNOW, JUST BE PREPARED. UM, UM, AND SO THEN ON THE 28TH, ASSUMING WITH OUR, OUR, OUR CERTIFICATE OF OCCUPANCY, THEN THAT PUTS THE, THAT PUTS THE DEVELOPER ON THE CLOCK IN TERMS OF, UH, IN TERMS OF TAKING OVER MAINTENANCE AND ONGOING EXPENSES. CORRECT. AND, UM, ARE, WHAT DO YOU KNOW ABOUT, HAVE THEY, BECAUSE THEY'RE SUPPOSED TO, I THINK, START A, A CORPORATION AND THAT CORPORATION IS SUPPOSED TO, IS THAT YOUR NEXT SLIDE? ARE YOU, UM, IT, SOME OF THESE I, I, I'D PREFER TO ANSWER IN CLOSED SESSION. OKAY. OKAY. WHAT ELSE YOU GOT? ALL RIGHT. UM, UH, PARKVIEW PROS APARTMENTS, UM, THERE'S A LITTLE BIT MORE INFORMATION THAN WHAT'S ON THE SLIDE. 'CAUSE I DID THIS, WE DID THIS SLIDE AT LUNCHTIME AND I WAS ON THE PHONE WITH THEM AND FIVE O'CLOCK . UM, THEY WERE NOT THRILLED, BUT THEY'RE THRILLED WITH DICKINSON. SO THAT'S, THAT, THAT'S THE MOST IMPORTANT PART. UM, SO THEY COMPLETED THEIR, THEIR HYDROSTATIC TESTING, UH, PROCEEDING WITH THEIR SITE WORK THEY'VE SUBMITTED AND THEY'VE SUBMITTED THEIR BUILDING PERMIT, THEIR PERMITS TO BUILD, AND THOSE PERMITS HAVE BEEN REVIEWED AND APPROVED. UM, THEY RIGHT NOW, UH, ARE AWAITING THE TEMPORARY POWER, UM, INSTALLATION, BUT THEN I THOUGHT AT FIVE O'CLOCK, IT'S A LITTLE, A LITTLE MORE TO IT THAN THAT. UM, THEY ARE ACTUALLY, THEY ARE READY TO LIKE LAY CONDUIT AND REALLY GET STARTED. UM, THEY ARE EXTREMELY FRUSTRATED, UM, WITH TNMP. UH, TNMP HAS TO GIVE THEM THE, THE DRAWINGS FOR WHERE TO PUT THE UTILITIES AND PUT ALL THE RUNS AND RUN ALL THE CONDUIT. UM, THEY'VE BEEN WORKING WITH TNMP SINCE JULY. UM, THEY WERE GIVEN AN INCORRECT LAYOUT BASED ON OLD JULY OF 25. JULY OF 25. RIGHT. IN MARCH THEY WERE GIVEN, UM, INCORRECT PLANS. HOW'D THEY FIND THAT OUT? HUH? HOW DID THEY FIND THAT WERE INCORRECT? UH, WHO CAUGHT THAT? BECAUSE IT SENT, UM, ALLIANCE RESIDENTIAL CAUGHT THAT BECAUSE IT WAS THE WRONG SITE. THERE YOU GO. DIDN'T WANT TO SAY THAT ON PUBLIC, BUT, OKAY. THERE YOU HAVE IT. . UH, UM, SO THEY WENT BACK AND THEY WERE SUPPOSED TO GET THEM NEW DRAWINGS, UM, ON THIS TIMELINE. AND BASICALLY THE PROJECT IS, IS, IS REALLY AT AN ALL STOP DUE TO TEXAS NEW MEXICO POWER. UM, SO WE TALKED WITH THEM, WE TALKED WITH THE ALLIANCES COUNCIL AND THEN ACTUALLY GOT ON THE PHONE WITH TEXAS NEW MEXICO'S COUNCIL. UM, AND I JUST SORT OF STAYED OUTTA THAT CONVERSATION. UM, IT GOT HEATED AND HOPEFULLY THEIR ATTORNEY SAID, OKAY, WE'LL GET YOU NEW DRAWINGS BY FRIDAY. SO, SO IT'S TUESDAY. UM, WELL, MY QUESTION WAS GONNA BE THE EXPEDITING BECAUSE OF THE ERROR, THE ERROR HAPPENED BACK IN MARCH. I I UNDERSTAND. YEAH. BUT IN OTHER WORDS, CAN WE EXIT? IS, IS THERE ANY PRESSURE WE CAN PUSH OR? NO. OH, WE, THEY PUT A LOT OF PRESSURE ON THIS AFTERNOON, . OKAY. UM, SO THE ATTORNEY SAID, OKAY, WE'LL GET 'EM TO YOU BY FRIDAY. I DON'T KNOW THOUGH HOW THAT'S GONNA BE, WHICH, WHICH FRIDAY? THAT'S THIS, THIS FRIDAY THIS, THIS COMING FRIDAY. YEAH. WHICH BEING SARCASTIC, I MEAN, IF YOU HAVEN'T YEAH, NO, I KNOW. IT'S KIND OF ALL YOU CAN DO AT THIS POINT. UM, UM, I, THEY'VE KNOWN THIS FOR FIVE WEEKS AND HAVEN'T BEEN ABLE TO TURN SOMETHING AROUND. I JUST, I, I, I APPRECIATE THEIR ATTORNEY'S COMMITMENT TO WANTING TO GET IT RESOLVED. UM, I, I JUST, I DO GET CONCERN A LITTLE BIT CONCERNED ON THE FEASIBILITY OF GETTING IT BY FRIDAY. AND THEN IF YOU DO GET SOMETHING BY FRIDAY, WHAT IS THE ACCURACY? HOW MUCH CAN YOU DEPEND ON WHAT YOU GET ON FRIDAY? UM, SO THOSE ARE MY, MY, MY CONCERNS THERE. UM, BUT THAT, UM, THAT'LL BE THE FIRST OF A THEME THAT YOU'RE GONNA HEAR ABOUT THROUGHOUT THE NEXT COUPLE OF UPDATES. WHAT CAN YOU TELL US ABOUT THE APARTMENTS, THE TARGET TENANTS TARGET? UH, TARGET 10. SO TARGET RENT RATE, AND WE'LL TALK ABOUT THIS A LITTLE BIT, UH, MORE [00:15:01] LATER ON. BUT YEAH, TARGET RENT RATE, I MEAN, THEY ARE SORT OF THE FIRST MOVER IN DICKINSON TRYING TO TARGET ALL, ALL OF THESE, YOU KNOW, ENGINEERING, AVIATION, SHIP SHIPYARD, UM, UM, UH, JOBS THAT ARE COMING IN ROUGHLY ABOUT 10,000 JOBS. UH, I WILL SAY I WAS AT, UH, A MEETING AT BAY A, IT'S SOMEWHAT OF A CONFIDENTIAL MEETING, SO I WON'T GET TOO SPECIFIC, BUT LOOKS LIKE WE'RE GONNA LAND PROBABLY ANOTHER 15 TO 2200 JOBS, UH, AT THAT SIMILAR INCOME LEVEL. UM, SO PROS IS TARGETING, YOU KNOW, THE SIX FIGURE INCOME LEVELS, UM, AND, AND CHART, YOU KNOW, TARGETING THAT, THAT THAT WORKFORCE AND RETAIL SPACE TO SUPPORT AND YEAH, AND THE, THE RETAIL SPACE UP ON FIVE 17, I ACTUALLY DO NEED TO GET, UM, UH, A MEETING SET UP WITH BRAD ELMORE, UM, JUST TO TOUCH BASE ON THE RETAIL SECTION AND SAY, OKAY, HEY, WE GOT, YOU KNOW, WE GOT EVERYTHING ROLLING. UM, HOW ARE WE LOOKING ON THE RETAIL SECTION? SO, I KNOW LAST TIME I TALKED TO HIM, HE, THEY WERE TRYING TO MAP OUT, YOU KNOW, WHAT THEIR SITE, HOW MUCH SQUARE FOOTAGE. I KNOW HE WANTS TO GET KIND OF A NICE, UH, CORNER RESTAURANT ANCHOR, UM, AND THEN BUILD OUT FROM THERE. SO I JUST NEED TO, I HAVEN'T TALKED TO HIM IN A LITTLE WHILE, NEED TO TOUCH BASE WITH HIM ANYWAY, UM, JUST TO SEE HOW THINGS ARE GOING. BUT THERE'S NO, THERE HAS NOT BEEN ANY LIKE SITE WORK OR PERMIT REQUESTS OR ANYTHING LIKE THAT. OKAY. NEXT. ALRIGHT, QT, SO TXDOT HAS INSTALLED THEIR TRAFFIC LIGHT. WE ARE STILL WAITING ON TEXAS AND MEXICO POWER FOR POWER CONNECT. WELL, IT'S SAYS INSTALLATION, UH, IT'S REALLY CONNECTION. UM, UM, SO WE ARE WAITING FOR TNMP TO CONNECT AS SURE IF ANY OF YOU HAVE DRIVEN DOWN THE WEST SIDE. YOU'VE SEEN IT THERE FOR A LITTLE WHILE. UM, SO QT IS ACTUALLY AGAIN, REACHED OUT FRIDAY AND AGAIN TODAY JUST GETTING A LITTLE NERVOUS. 'CAUSE IF YOU RECALL, THEY WERE GIVEN A, A TEMPORARY CERTIFICATE OF OCCUPANCY THAT HAD A TIMELINE THAT WAS BASED ON THIS TRAFFIC LIGHT. THOUGHT THEY HAD ENOUGH THOUGHT WE GAVE 'EM ENOUGH TIME, WE HAD ALL AGREED TO, YOU KNOW, AND NOW THEY'RE, THEY'RE GETTING NERVOUS. SO, UM, YOU KNOW, I'VE TALKED TO THEIR REPRESENTATIVES, UM, YOU KNOW, ACTUALLY ON SATURDAY I SPOKE TO ONE OF THEIR FOLKS, UM, AND THEN AGAIN TODAY AND I THINK THEY'RE SETTLED. THEY'RE JUST VERY ANXIOUS TO REALLY JUST BE DONE. RIGHT. UM, SO, UH, TALK TO 'EM ABOUT COULD THEY DO 2 89 DIESEL AGAIN, IF THAT'S AN OPTION, I'LL BRING THAT UP TOMORROW. OKAY. , THEN WE CAN WORK ON THE POWER. TEXAS, TEXAS 2 89. DIESEL WAS NICE. I WAS SO HAPPY. ANYWAY, NEXT SLIDE. ALRIGHT, SO ELS CONSTRUCTION, UM, POTENTIAL, UM, GRAND OPENING DATE IS AROUND, I SAY ROUND JUST 'CAUSE THESE ARE NEVER REALLY FINAL, UH, ROUND MAY 1ST. UM, SO JUST A HEADS UP, UM, THEY DO WANT TO HAVE A SORT OF A GRAND OPENING. THEY DO WANT US TO BE PART OF IT. UM, YOU KNOW, WE'LL HELP PROMOTE THAT KIND OF RIBBON CUTTING, UH, CEREMONY WOULD'VE EVER THEY END UP DOING. UM, BUT THEY ARE, THEY'RE GOING FAST AND FURIOUS. I THINK THEY, THEY WERE TRYING TO GET THE FIRE INSPECTIONS DONE THIS WEEK, BUT OUR FIRE MARSHAL IS AT THE SAME CONFERENCE OUR FINANCE DIRECTOR'S AT. UM, SO THAT COULDN'T HAPPEN. BUT THAT IS GOING TO HAPPEN. I TALKED TO THE FIRE MARSHAL YESTERDAY. THAT'S GONNA HAPPEN AS SOON AS SHE GETS BACK. SO NEXT WEEK. BUT THEY'RE IN THE ABSOLUTE HOME STRETCH. ALRIGHT, NEXT SLIDE. ALRIGHT, UM, SO WE'VE TALKED A LOT ABOUT MULTIFAMILY PROS, APARTMENTS, YOU KNOW, UM, BAYOU VILLAGE AND OTHER POTENTIAL REDEVELOPMENTS. UM, SO AS SOME OF YOU ARE AWARE, WITHOUT GETTING INTO DETAILS, UM, SOME OF YOU KNOW THAT I AM TRYING TO GET SOME, SOME REDEVELOPMENT OPPORTUNITIES. UH, SOME OF THOSE DEVELOPERS HAVE ASKED FOR AN ANALYSIS OF, OF WHAT THE CURRENT MULTIFAMILY SITUATION IS HERE. UM, UH, I KNOW YOU'VE ALL RECEIVED A WHITE PAPER FROM ME ABOUT MULTIFAMILY AND HOUSING. UM, THIS REALLY I ILLUSTRATES I THINK WHY WE HEAR SOME OF THE THINGS WE HEAR OUT IN THE PUBLIC, RIGHT? UM, I HAD TO DO THIS FOR SOME OF THESE DEVELOPERS. THEY WANNA UNDERSTAND WHAT THE MARKET IS, RIGHT? AND, AND WHAT THEY'RE COMING IN FOR. UM, SO WE DID THIS ANALYSIS. SO THE, UH, ON THE FAR LEFT YOU SEE DTX ONLY, THAT'S DICKINSON, TEXAS ONLY. SO THIS IS ALL THE MULTIFAMILY THAT WE HAVE HERE, UH, IN [00:20:01] THE CITY LIMITS AND OUR AVERAGE RENT PER SQUARE FOOT. AND THIS IS AN AVERAGE AND THERE'S HOW MANY UNITS? EIGHT 18? YEAH. HOW MANY DIFFERENT LOCATIONS? LIKE 18? I THINK IT WAS SOMETHING LIKE THAT. UM, WAS IT 20? UH, UM, OUR AVERAGE RENT PER SQUARE FOOT IS A DOLLAR 14. SO THAT IS VERY LOW, UH, ESPECIALLY FOR AN AVERAGE. UM, THERE ARE, UM, UM, UNITS, YOU KNOW, IN THE 80, 90 CENT RANGE, RIGHT? UM, I THINK OUR HIGHEST ONE WAS A DOLLAR 30, DOLLAR 31, SOMEWHERE IN THERE. UM, SO THAT IS, UM, IF YOU RECALL BACK TO THOSE THAT HAD A CHANCE TO READ WHAT I WROTE, UM, THAT IS WELL BELOW THAT TARGET THAT ATTRACTS RETAIL. UM, SO THAT'S ONE OF THE THINGS THAT, THAT WE'RE, WE, YOU KNOW, THESE, THESE NEWER PROJECTS THAT WE'RE TALKING ABOUT IS GONNA TURN THIS, THIS TIDE. UM, WE EXPAND THAT OUT TO A THREE MILE RADIUS, RIGHT? 'CAUSE I'M TRYING TO SELL THESE GUYS ON NOT JUST THE CITY NUMBERS, BUT THE AREA NUMBERS. UM, YOU GET OUT TO THREE MILE, UM, THERE'S TWO NUMBERS THERE. SO THE GREEN BAR IS, IS TAKING EVERYBODY IN THE THREE MILE RADIUS WITH INCLUDING THE DICKINSON PROPERTIES, UM, IS A DOLLAR 35. IF YOU THEN BACK OUT YOUR DICKINSON PROPERTIES, THOSE AVERAGES JUMP TO 1 51. SO WE, WE ARE DRAGGING THAT, THAT DOWN. BUT IT'S IMPORTANT FOR ME WHEN I GIVE THIS ANALYSIS TO SORT OF SCOPE THAT OUT FOR FOLKS SO THEY SEE THAT THE BROADER MARKET WILL, WILL WORK FOR WHAT I'M ASKING THEM TO DO. RIGHT? UM, SO THEN YOU GO OUT FIVE MILES AND YOU'RE REALLY THE FIVE MILE RADIUS. THAT YELLOW BAR OF 1 71 IS WHERE I REALLY WOULD LIKE TO SEE US END UP WHEN, WHEN EVERYTHING'S SAID AND DONE. THAT'S A REALLY GOOD AVERAGE NUMBER. THAT'S, YOU KNOW, THAT'S A MIX, UH, OF DIFFERENT TYPES OF UNITS. THAT'S, UH, A GOOD ECONOMIC MEDIAN INCOME MIX THAT'S GONNA HAVE DISPOSABLE INCOME MIX. UM, SO YOU CAN SEE WHERE, WHERE WE ARE BRINGING DOWN THOSE, THOSE NUMBERS WITHIN THOSE THREE AND FIVE MILE RADIUSES BY ABOUT 20 CENTS A, A SQUARE FOOT. UM, WHEN WE TALK ABOUT THESE PROJECTS THAT FAR, RIGHT GREEN BAR, WHICH I HAVE FUTURE PROJECTED, THAT IS FACTORING IN JUST THE THREE DEVELOPMENTS THAT WE, THAT WE KNOW ABOUT, RIGHT? UM, UM, SO THE, YOU KNOW, THE PROS APARTMENTS THAT'S CURRENTLY UNDER CONSTRUCTION BY THE, JUST THE ONE, THE FIRST UNIT, UM, JUST THE SOUTH SIDE OF THE BAYOU VILLAGE. UM, AND THAT OTHER REDEVELOPMENT, THOSE THREE BRING OUR AVERAGE FROM ONE 14 TO 1 37. UM, SO IT'S A BIG KIND OF JUMP. UM, UM, SO YOU KNOW, THOSE ARE SOME OF THE OTHER STANDARDS, UM, THAT WE'RE, WE'RE TRYING TO GET PEOPLE TO DO. SO, UM, THAT REALLY WILL START TO TURN THE TIDE. ANY QUESTIONS ON THAT OR ANY OF THE PROJECT UPDATES? DO WE KNOW THOSE UNITS? ARE THEY ALL THE SAME SQUARE FOOTAGE? WHAT, WHAT'S THAT SQUARE FOOTAGE? UH, SOME, UH, SOME OF THEM ARE ONE BEDROOM, SOME OF THEM ARE TWO, TWO BEDROOM. UH, YOU MEAN THE, THE UNITS WITHIN THE DOLLAR 14? YEAH, IT'S ALL, NO, NO, WHAT WE'RE, OH, WHAT WE'RE GOING IN ON THESE, UH, UH, MOST, MOST OF THOSE ARE GONNA BE ONE AND TWO BEDROOMS. UM, IN PROS. UM, BAYOU VILLAGE WILL BE ONE, TWO, AND THREE BEDROOM. SO, UM, AND I THINK YOU SAID THE NEW STUFF GOING IN IS GOING IS IS AVERAGING LIKE 1, 180 5, 1 90 A SQUARE FOOT? WELL, THE TWO, SO THE ONE THAT'S BEING BUILT RIGHT NOW THAT'S UNDER, CURRENTLY UNDER CONSTRUCTION, THEY INSIST 1 95 IS THEIR BASE. UM, UM, AND THEN BOBBY VILLAGE EAST, IT'S BEEN 1 95 AND THEN THE OTHER ONE IS ONE 90. SO, SO EVERYTHING AND I, UM, I ALWAYS SAY LIKE WHEN I'M DEALING WITH THEM, I'M SAYING ONE, ONE I SAY 180 5 OR, OR OR HIGHER. UM, AND THEN THEY FIGURE OUT HOW THE MATH WORKS, RIGHT? UM, THE OTHER THING THAT, THAT, UM, I'M TRYING TO START PUSHING IS, IS JUST A, A, A NICER STYLE, UH, AS WELL. UM, AND, AND JUST, YOU KNOW, IF YOU LOOK AT SOMETHING LIKE THE ELS BUILDING, LIKE WHEN THEY ASK ME, WELL WHAT ARE YOU KIND OF LOOKING FOR? I KIND OF, HERE, HERE ARE THE PICTURES THAT WE'D LOVE TO LOVE TO SEE IT LOOK SOMETHING LIKE THAT. UM, SO WE'RE GETTING THERE. IT'S JUST TAKES [00:25:01] TIME TO TURN THE SHIP. OKAY, NEXT SLIDE. ALRIGHT, SO JUST SOME GENERAL UPDATES. UH, I'VE GOT SEVERAL MEETINGS COMING UP WITH DEVELOPERS FOR BOTH REDEVELOPMENT. SO THESE ARE ARE DIFFERENT POTENTIAL REDEVELOPMENT PROJECTS, UM, AS WELL AS NEW DEVELOPMENT OPPORTUNITIES HERE IN DICKINSON. UM, IT'S ABOUT AS MUCH AS I CAN SAY WITH THOSE FOLKS VERY EARLY ON, UM, INITIAL MEETINGS, UH, WORKING WITH THE ENGINEERS ON MULTIPLE ITEMS RELATED TO SOME CURRENT AND FUTURE POTENTIAL PROJECTS. UH, WE DO HAVE, UM, I DO HAVE A MEETING WITH THE OWNER OF COLLABORATE. UM, IT SAYS COMING WEEKS, BUT SINCE WE DID THIS, WE'VE NAILED DOWN TO, UM, FRIDAY MORNING. UM, IT'S AT HIS REQUEST, SO I'M INTERESTED TO SEE WHAT HE HAS TO, TO SAY. UM, WE, WE, UH, WE HAD A COUPLE THINGS, UH, WE'RE WERE, I WOULD SAY THE EDC, BUT REMEMBER THE EED C'S, JUST MYSELF AND KAITLYN , UH, UH, WHERE THE EDC WAS ASSISTING WITH THE COMMUNICATIONS, UH, ON, ON HUGHES ROAD. THERE WAS A, A, A THINK SOME CONFUSION WHERE THE CONTRACTOR DID SOME THINGS, CHANGED UP SOME TRA TRAFFIC PATTERNS. SO WE'VE TRIED TO WORK WITH, UM, UM, THE CITYSIDE, UH, ON GETTING A COMMUNICATIONS PLAN OUT THERE. UH, THERE WERE A COUPLE THINGS THAT IT WAS CHANGED BACK AND, UM, YEAH, JUST, JUST TRYING TO WORK THROUGH SOME OF THAT SO THAT, THAT KIND OF TOOK UP SOME OF OUR TIME. UM, I ATTENDED AN SBA SEMINAR AS A, AS A KIND OF GUEST SUBJECT MATTER EXPERT. WASN'T REALLY LIKE A PANEL THING. I WAS KIND OF THERE IN THE AUDIENCE AND THEY WOULD JUST KIND OF KICK IT TO ME WHEN THEY WANTED ME TO TALK TO SOMETHING. UM, OR A QUESTION CAME UP FROM THE AUDIENCE. UH, WE HAVE A TRAINING WITH COSTAR. COSTAR IS OUR REAL ESTATE SOFTWARE. UM, SO THAT'S THE, THE SOFTWARE THAT WE USE, UM, UM, FOR OUR, OUR MULTI-FAMILY RENT RATE ANALYSIS. UM, THEY HAD A NEW REP WHO CALLED ME ON THE PHONE AND I SAID, YEAH, WE JUST USED IT FOR THIS. AND OH, HOW'D YOU DO? AND I TOLD 'EM HOW WE DID THAT AND HE GOES, HEY, WHY DON'T YOU COME ON IN? WE HAVE SOME NEW TOOLS, LET'S TRAIN YOU UP A LITTLE BIT. WE COULD HAVE MADE THAT A LOT SMOOTHER, EASIER FOR YOU. I ASKED ABOUT A FEW OTHER THINGS, UM, UM, AS FAR AS REAL ESTATE ANALYSIS GOES. AND, AND HE SAYS NOT, HEY, JUST COME ON IN. AND HE'S INVITED US UP TO THE CAITLYN AND I UP TO THE OFFICE FOR OUR TRAININGS. WE'RE GONNA DO THAT. UM, PARTICIPATED IN A COUPLE PRE-CONSTRUCTION MEETINGS. UM, ONE WAS FOR A NEW CHURCH ON FIVE 17. AND THEN, UM, AND I AM JUST BRINGING THIS UP JUST TO LET YOU ALL KNOW ON THIS ONE, I DID NOT BRING THIS TO YOU. I SHOT THIS PERSON DOWN IMMEDIATELY. THEY WILL GET NO MONEY FROM THIS BODY. UM, WE WILL NOT DO ANYTHING THAT THEY REQUESTED. UM, THIS GENTLEMAN WAS NOT VERY PLEASED WITH ME WHEN HE LEFT, BUT HE WANTS TO BUILD A POTENTIAL, UH, A GAS STATION WITH A CONVENIENCE STORE, UM, WITH THE RETAIL CENTER, UM, WITH HOUSING ON TOP OF THE RETAIL. UH, THOSE PROPOSED USES WERE WASH TERRY HAIR SALON MASSAGE PARLOR WITH SECOND LEVEL LOW INCOME HOUSING THAT HE WOULD LEASE BACK TO THE EDC AND THEN WE WOULD RENT OUT. UM, HE ASKED FOR INFRASTRUCTURE, FINANCIAL ASSISTANCE FOR INFRASTRUCTURE FOR THE SITE AS WELL AS US BASICALLY, UM, BECOMING A LANDLORD FOR THE LOW INCOME HOUSING. UM, IT WAS A SHORT MEETING. , UH, UH, THIS IS THE, THE POLAR OPPOSITE OF WHAT WE NEED TO BE FOCUSING ON AND WHERE WE NEED TO BE USING OUR ECONOMIC DEVELOPMENT DOLLARS. UM, SO IF ANYBODY HEARS FROM THIS GENTLEMAN ABOUT HOW BIG BAD MEAN I WAS GOOD, I I WILL WEAR THAT COLLAR . UM, SO, UM, BUT JUST TO MAKE YOU ALL AWARE, UH, ALSO ATTENDED COFFEE WITH A COP IN THE LEAGUE CITY REGIONAL CHAMBER BOARD MEETING OF, UM, AS WELL AS THE HOUSTON, UM, UH, HOUSTON AREA ECONOMIC DEVELOPMENT ASSOCIATION MEETING AS WELL. UM, SO THAT'S KIND OF WHAT HIGH LEVEL WHAT WE'VE BEEN UP TO THE LAST MONTH. SO, UM, ANY OTHER QUESTIONS? NOPE, MARK, LET'S GET MOVING. PUBLIC COMMENTS. I DO NOT HAVE. WE DO NOT HAVE ANY. OKAY. MOVING TO NUMBER FIVE, CONSENT AGENDA. THE FOLLOWING ITEMS ARE CONSIDERED [5. CONSENT AGENDA] ROUTINE BY THE DICKINSON ECONOMIC DEVELOPMENT CORPORATION AND WILL BE ENACTED BY ONE MOTION. [00:30:01] THERE WILL NOT BE A SEPARATE DISCUSSION ON THESE ITEMS UNLESS REQUESTED BY A BOARD MEMBER IN WHICH, IN WHICH EVENT THE ITEM WILL BE REMOVED FROM THE CONSENT AGENDA AND DISCUSSED AFTER THE CONSENT AGENDA. FIVE POINT A CONSIDERATION AND POSSIBLE ACTION TO APPROVE MARCH, 2026, MONTHLY ADMINISTRATIVE SERVICE FEE AND AUDIT TRANSFER REQUEST FIVE POINT B CONSIDERATION AND POSSIBLE ACTION TO APPROVE MARCH, 2026, PAYROLL TRANSFER REQUEST FIVE POINT C CONSIDERATION AND POSSIBLE ACTION TO APPROVE THE JANUARY 20, 26 DEDC FINANCIAL AND INVESTMENT REPORT, FIVE POINT D CONSIDERATION AND POSSIBLE ACTION TO APPROVE THE AMENDED MINUTES FROM THE DEDC REGULAR MEETING HELD ON FEBRUARY 3RD, 2026, FIVE POINT E CONSIDERATION AND POSSIBLE ACTION TO APPROVE THE MINUTES FROM THE DEDC REGULAR MEETING HELD ON MARCH 3RD, 2026. MA'AM, IS IT APPROPRIATE THAT I ASK, DO WE HAVE A MOVE? WHAT'S I QUORUM? UH, DO WE HAVE A, IF NO ONE'S GOING TO OFFER UP A MOTION TO APPROVE THE CONSENT AGENDA AS OFFERED, YOU CAN CERTAINLY SOLICIT SUCH. I MOVE TO APPROVE THE AGENDA. I MEAN, I MOVE TO APPROVE THE CONSENT AGENDA. I SECOND WE HAVE A APPROVAL AND A SECOND WE'LL VOTE. ALL THOSE IN FAVOR? AYE. AYE. ALL THOSE OPPOSED? OKAY. THE CONSENT AGENDA PASSES AS READ APPROVED OLD BUSINESS. I HAVE A BLANK NEW BUSINESS [7. NEW BUSINESS] SEVEN POINT A RESOLUTION XXX DASH 2026 CONSIDERATION AND POSSIBLE ACTION TO APPROVE A RESOLUTION OF THE BOARD OF DIRECTORS OF THE DICKINSON ECONOMIC DEVELOPMENT CORPORATION DELEGATING TO THE, TO ITS EXECUTIVE DIRECTOR, THE AUTHORITY TO EXECUTE LICENSE AGREEMENTS FOR PROPERTY OWNED BY THE DEDC. WE TAKE THESE ONE AT A TIME OR DO WE WANNA READ 'EM ALL ONE AT A TIME? OKAY. YEAH, JUST ONE AT A TIME. UM, SO JUST, JUST EXPLAIN WHAT THIS IS. UM, SO PER, PER THE BY BYLAWS, USE OF EDC PROPERTY DOES REQUIRE APPROVAL BY THE BOARD. UM, THIS, WHAT THIS IS TARGETED TOWARDS ARE THOSE SHORT TERM LIKE FESTIVAL PARKING ACROSS THE STREET. OKAY. UM, SO, YOU KNOW, I THINK IT'S, I BELIEVE IT'S TIME BOUND. UM, MR. DO, UH, DID YOU, UH, IS IT 48 HOURS OR 72 HOURS? IT IS 72 HOURS. 72 HOURS. SO, SO IT'S ONLY USES FOR 72 HOURS OR LESS. AND THAT'S BASICALLY TO COVER A WEEKEND EVENT, FESTIVAL PARKING, UM, AND THOSE REQUESTS THAT WE KIND OF GET THROUGH JUST THE NORMAL PROCESS, UM, SOMETIMES WE GET REQUESTS AFTER WE'VE HAD THE MEETING AND THE EVENT'S GONNA BE BEFORE THE NEXT MEETING. UM, SO THIS IS SOMETHING THAT WE, BUT THIS, THIS RESOLUTION IS GIVING YOU THE AUTHORITY TO SAY YES, WE'RE SAY YES. RIGHT. SO BASICALLY I HAVE THE AGREEMENT, I SEND THE DRAFT, I EDIT IT. UH, THE MAIN THING THAT I'M LOOKING FOR IS JUST THE, THE INSURANCE CERTIFICATE BACK. LIKE THAT'S THE MOST THING IMPORTANT THING THAT ABSOLVES US FROM ANY LIABILITY. UM, MOST OF THESE ARE, I MEAN, HONESTLY, I I DON'T GET A LOT OF NEW REQUESTS. IT'S MOSTLY FOLKS THAT HAVE BEEN USING IT FOR THAT PURPOSE FOR YEARS. UM, SO, UM, INSTEAD OF WE, WE THOUGHT JUST THIS WOULD STREAMLINE IT A LITTLE BIT. LIKE LAST MONTH YOU CAME AND ASKED US ABOUT THE, UH, ITALIAN FESTIVAL PARKING IN THE FUTURE, YOU WOULDN'T HAVE TO, YOU'D JUST APPROVE IT. WE'D BE DONE, CORRECT? YEAH. OKAY. DO WE HAVE A MOTION? I MOVE TO APPROVE. SECOND. WE HAVE A SECOND. ALL THOSE IN FAVOR PUT IT TO A VOTE. AYE. AYE. ALL THOSE OPPOSED, OKAY. RESOLUTION PASSES NEW BUSINESS IN, IN THAT CASE. UM, WE DON'T NEED TO TAKE ANY ACTION ON SEVEN B UH, 'CAUSE THAT WAS TO APPROVE A LICENSE AGREEMENT FOR THE HOLY TRINITY EPISCOPAL CHURCH. THE STRAWBERRY FESTIVAL, UM, FOR, FOR THE PARK. SO YOU WILL TAKE CARE OF THAT THEN. SO I WILL TAKE CARE OF THAT THEN. OKAY, NEXT SLIDE. ALRIGHT, EXECUTIVE SESSION. OKAY, THE TIME NOW [8. EXECUTIVE (CLOSED) SESSION(S)] IS 7 36 AND THE BOARD WILL HOLD A CLOSED EXECUTIVE MEETING PURSUANT TO THE PROVI PROVISIONS OF CHAPTER 5 5, 1 OF THE TEXAS GOVERNMENT CODE IN ACCORDANCE WITH THE AUTHORITY CONTAINED IN, DO I NEED TO READ BOTH? EIGHT EIGHT POINT A EIGHT POINT A TEXAS JUST READ THE SECTION NUMBERS FOR BOTH. OKAY. TEXAS GOVERNMENT CODE SECTION 5 5 1 0.071 CONFIRMED AND AN EIGHT POINT B TEXAS GOVERNMENT [00:35:01] CODE SECTION 5 5 1 0.087. OFFICIAL TIME GATOR TIME IS 7 37. IS THAT BETTER? OKAY. [9. ACTION ITEMS FROM EXECUTIVE (CLOSED ) SESSION(S)] OFFICIAL TIME RETURNING IS EIGHT 30. WE'LL TAKE NO ACTION ITEMS OR NO ACTION ON ANY ITEMS, UH, FROM EXECUTIVE SESSION. DO I NEED TO READ THESE ITEMS HERE? NOPE. OKAY. NEXT SLIDE. MOVING ON, WE [10. BOARD MEMBER COMMENTS] WILL CONCLUDE WITH BOARD MEMBER COMMENTS. COLIN, ANYTHING? YEAH, I JUST WANTED TO SAY, UM, AGAIN, DRIVING HERE THIS EVENING, WE CAN SEE PROGRESS BEING MADE ON SEVERAL PROJECTS IN OUR COMMUNITY. UM, I THINK SINCE THE LAST MEETING THERE HAVE BEEN ANOTHER COUPLE PROJECTS POP UP. UM, SO A LOT OF REALLY EXCITING PROGRESS FOR OUR CITY. UM, REALLY, AGAIN, TURNING THAT CORNER, UM, THAT WE'VE BEEN AT FOR SEVERAL YEARS NOW. SO IT'S EXCITING TIME BILLY, JUST A LITTLE BIT. I BELIEVE AS A GROUP WE ARE MOVING FORWARD WITH A BUNCH OF PROJECTS THAT HOPEFULLY WE'LL HELP THE CITY. DID YOU ? IT WAS ON. IT'S ON NOW. I SAID, UH, WE, WE HAVE PROJECTS MOVING FORWARD. UH, WE'RE DOING GOOD AND I THINK THOSE PROJECTS WILL HELP THE CITY. DEREK, MR. TUCKER? UM, SAME FOR ME. UH, LIKE I SAID, UM, THERE ARE SOME EXCITING THINGS COMING AND IT'S ALL FOR THE POSITIVE. AND, UH, I WANNA THANK EVERYBODY FOR, UH, LETTING ME BE ON THE A DC AND, UH, THE COOPERATION HAS BEEN AWESOME. SO THANK YOU MS. LINDSAY. I WILL REMIND ALL GENTLEMEN NEXT MONTH IS MOTHER'S DAY, SO I'LL START PLANNING NOW. YOU'RE NOT OFF THE HOOK. OKAY. ANY FUTURE AGENDA ITEMS THAT WE NEED TO PLACE? ONCE, TWICE SOLD. OKAY, WELL THE OFFICIAL GATOR TIME, 8 33. THIS WILL CONCLUDE OUR MEETING. WE WILL SEE YOU GUYS NEXT MONTH. * 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.