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[A. REGULAR SESSION]
TO ORDER ON THIS THURSDAY, UH, MARCH THE 14TH AT 6 0 2.GOOD LORD, WE THANK YOU FOR ANOTHER OPPORTUNITY TO SERVE YOUR CITIZENS OF MINNESOTA.
WE ASK THAT YOU WOULD GIVE US GUIDANCE, GIVE US WISDOM, GIVE US INTENTIONALITY, USE US IN A MIGHTY WAY, PROTECT ALL THOSE WHO ARE NOT IN ATTENDANCE.
EVENING AND REPRESENT US HERE.
THANK YOU VERY MUCH, DIRECTOR JONES.
AND, UM, AS WE GO FORWARD HERE, WE'RE GONNA NOW GO INTO OUR, UH, REGULAR SESSION, NEW BUSINESS, UM, FINANCE STATUS
[B.1. Finance Status Report as of January 2024. Lakeita Sutton, Interim Director of Budget/Finance]
REPORT, UH, AS OF, UH, JANUARY, 2024 FOR IT.FIRST OF ALL, I'M NOT THE KEY TO SILENT.
BUT, UM, JUST IT'S A B ONE IN YOUR, UH, BOOKS.
WHAT IS IT ON THE COMPUTER? B ONE? YES, IT ON.
UM, JUST LOOKING AT REVENUE, UM, OF COURSE, UM, AS I STATED IN THE MEMO, REVENUE IS UP COMPARED TO THIS TIME LAST YEAR.
UM, ACTUALLY SALES TAX REVENUE IS UP A LITTLE OVER 4% COMPARED TO THIS TIME LAST YEAR.
UM, I AM GOING TO GET A REPORT, UM, AND, YOU KNOW, KIND OF IDENTIFY WHAT'S UP.
WE DO KNOW CODES IS DOWN, BUT AS I REPORTED TO OUR COUNCIL, EVERYONE ELSE IS KIND OF MAKING UP FOR THE DOLLARS THAT WE LOST.
OF COURSE, INTEREST REVENUE IS UP WITH THE RATES.
UM, WE'RE STILL INVESTING IN YOUR CDS.
WE HAVE, UH, 3 MILLION C UM, WORTH OF CDS THAT OUT THERE THAT WE JUST RENEWED ON A SIX NINE, I THINK IT'S SIX, NINE AND 12 MONTHS IF I REMEMBER CORRECTLY.
AND, UM, SO OVERALL, LIKE I SAY, REVENUES ARE GOOD.
WE HAD 25% AND WE ARE PRETTY MUCH WHERE WE EXPECTED TO BE, YOU KNOW, AS FAR AS REVENUE THROUGH JANUARY.
UM, EXPENDITURES, UM, NOTHING OUT OF THE ORDINARY.
UM, AS FAR AS, UH, OVERALL EXPENDITURE, JUST MAINLY PAYROLL SO FAR THIS YEAR.
UM, YOU DID HAVE A GRANT THAT WENT OUT OF, OF $50,000 AND UM, ACTUALLY HAD A COUPLE MORE EARLIER IN THE YEAR, UM, THAT WENT OUT.
I THINK COUNCIL JUST APPROVED ANOTHER ONE.
I'M NOT FOR SURE IF THE EXPENDITURE CHAIR IT WILL, THERE'LL BE SEVERAL THAT WILL COME THIS MONTH.
AND, UM, LIKE I SAY, OVERALL EXPENDITURES ARE AT, AT MEETING OUR EXPECTATIONS, YOU KNOW, THROUGH JANUARY OF THE BUDGET YEAR.
UM, WITH THAT I CAN ENTERTAIN ANY QUESTIONS IF YOU HAVE ANY, TRICIA? I JUST HAVE ONE.
AND THEN IT SHOWS OUR, OUR, UM, OUR, OUR CURRENT YEAR TO DATE OF, OF SALES TAX AT 503,000.
AND, AND, AND IF I'M NOT MISTAKEN, THAT'S A 14 AND SOMETHING ODD PERCENT INCREASE, UM, FROM THE PREVIOUS YEAR.
I I DID THE CHECK THE MATH BECAUSE, AND THE ONLY REASON I ASK IS THAT ONE OF OUR GOALS IS TO INCREASE OUR SALES TAX BY MORE THAN 5%.
AND CURRENTLY WE'RE TRACKING TO BE THREE TIMES THAT.
IT, IT SOUNDS LIKE YOU MAY BE SEEING SOME DECREASE BELOW THAT THOUGH, THAT UNDERSTAND CITY SALES TAX OVERALL.
I KNOW WE'RE, WE'RE GOOD, BUT, UM, I DID KNOW WE DID GET A NOTICE AND I, I'LL COME BACK AND GIVE YOU MORE.
WE HAD A, A NEGATIVE $329,000 IN SALES TAX.
WHAT THAT TELLS ME IS THAT IT WAS A ENTITY AND SALES TAX IN THE TOTAL THAT PROBABLY SHOULD HAVE BEEN PAYING TO ONE OF OUR NEIGHBORS SEATS.
AND SO THAT'S GONNA REFLECT IN OUR NEXT, IN OUR MARCH PAYMENT.
AND SO I'LL, I'LL REPORT BACK ON WHAT THAT WAS.
SO I GOTTA FIND OUT WHO THAT WAS.
IT WAS A TAXPAYER PAYING A LOT OF SALES TAX OR SOMEONE THAT THEY JUST CALLED THAT WAS PAYING OVER A NUMBER OF YEARS.
AND SO WE HAVE TO, WHAT THEY DO WHEN THEY FIND THAT THEY NET OUR, YOU KNOW, FUTURE PAYMENT.
AND, AND IT IS LIKE SOMETIMES THEY ALSO FIND SALES TAX, UM, YOU KNOW, PEOPLE THAT SHOULD BE PAYING.
AND SOMETIMES WE GET A CREDIT, BUT THIS TIME IN THE OPPOSITE DIRECTION.
I DIDN'T KNOW IF IT WAS A QUESTION OF THE, THE, THE DISCREPANCY BETWEEN FIVE AND, AND AND 15 WAS QUESTION OF BUDGETING.
'CAUSE I KNOW WE'RE VERY CONSERVATIVE IN
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TERMS OF OUR BUDGETING.THAT'S A DIFFERENCE IN BUDGET.
THAT'S OUR, BECAUSE BECAUSE OUR, OUR PERFORMANCE GOAL IS ACTUALLY BASED ON LAST YEAR'S ACTUAL, ACTUAL DOLLAR AMOUNT AND THEN THIS YEAR'S ACTUAL DOLLAR.
AND SO WE'RE, WE'RE SIGNIFICANTLY, UH, IN THE, IN THE BLACK.
SO TRACY, ONE OF THE THINGS THAT I LOOKED AT EARLIER WAS THE FOUR 82% INCREASE.
UM, I, I KNOW WE DIDN'T HAVE A BREAKDOWN, BREAKDOWN.
WHAT'S DRIVING THAT? THE INTEREST REVENUE.
UM, THE RATES, I MEAN THE RATES ARE FOUR OR 5% NOW.
AND THEN WE ALSO INVESTED IN CDS WHEN IN THE PAST WE INVESTED IN CDS, BUT THEY WERE AT A LOWER RATE.
AND WE ONLY INVESTED, I THINK AT ONE TIME WE HAD 750,000.
THAT'S NOW WE GOT 3 MILLION AT FOUR OR 5%.
IF YOU'LL REMEMBER ABOUT A YEAR AGO, WE LOOKED AT OUR INVESTMENT, UM, PROGRAM EARMARKED ONLY A THIRD, IF YOU WILL, OF OUR, OF OUR, UM, FUND BALANCE TO INVEST AS OPPOSED TO, SO THAT'S FOUR TIMES WHAT WE WERE INVESTING PRIOR.
AND, AND INSTEAD OF A QUARTER OF A PERCENT, WHICH IS ABOUT WHAT WE WERE EARNING ON OUR CDS AT THE TIME, WE'VE LADDERED THOSE SO THAT WE CAN GET SOME STABILITY TO IT.
UM, AND THEY'RE FLUCTUATING IT SOUNDS LIKE, BETWEEN FOUR AND 5%.
I KNOW THAT'S WHAT'S THE TERM ON THOSE S BY WAY? UH, WE HAVE A SIX, NINE AND 12 MONTH, 6, 9, 12.
AND LIKE I SAID, WHEN THEY COME TO, WE JUST REINVEST 'EM, YOU KNOW, AND SOONER OR LATER RIGHT, THE MARKET WILL CHANGE AND THEY'LL START.
SO THE LATTER WILL HELP PROTECT US FOR THE IDEA BEHIND A LADDER IS THAT IT GIVES US ABOUT A YEAR OF CUSHION THAT EVEN IF IT STARTS TO DROP, WE'LL STILL BE TAILING OUT FOUR AND 5%, FIVE, FOUR, 5% FOR A PERIOD OF TIME BEFORE WE WE READJUST TO THE MARKET.
UM, BUT THE OTHER PIECE OF THAT, UM, IS THAT WE BUDGETED VERY CONSERVATIVELY MM-HMM.
'CAUSE I MEAN, WE'RE ALL KIND OF SITTING BACK AND GOING, HOW LONG DOES THIS LAST? SO YOU, YOU SEE WE ONLY BUDGETED A HUNDRED THOUSAND DOLLARS OF REVENUE TO COME FROM THESE, AND ALREADY THIS YEAR, LESS THAN SIX MONTHS IN, WE'RE AT 170,000, UM, IN TERMS OF REVENUES FROM THAT.
SO WE'LL CONTINUE TO SEE THAT THROUGHOUT THE YEAR.
UM, IT'LL BE A SIGNIFICANT AMOUNT OF MONEY.
SO IT'S LEVELING, IT'S GONNA LEVEL OFF BECAUSE AT SOME POINT WE'RE, WE'RE OPERATING ON HOUSE MONEY, WE'VE ALREADY PROFIT.
AND THAT WAS THE WHOLE IDEA OF INCREASING THE OVERALL, THE OVERALL INVESTMENT COMPONENT AND THEN LADDERING IT OVER TIME WAS JUST TO SMOOTH THE CURVE.
IT WON'T CHANGE THE CURVE, BUT IT'LL SMOOTH IT AT SOME POINT AND IT'LL, AND IT'LL PROBABLY BE WORTHWHILE LOOKING AT AT YEAR END.
WE MAY MAKE THE DECISION THAT WE WANT TO INVEST MORE OF THAT FUND BALANCE IF WE DON'T SEE, ORIGINALLY WE HAD TALKED ABOUT LADDERING AT, AT SIX, 12 AND 18 MONTHS.
WE WERE ONLY LADDERING OUT TO 12 AND WE WERE A LITTLE MORE CONSERVATIVE IN HOW MUCH WE INVESTED.
'CAUSE AT 18 YOU'RE THINKING YOU'RE SPENDING TWO YEARS AND THERE MAY BE A NEED THAT YOU HAVEN'T SEEN IN A YEAR.
WE'RE ONLY BUDGETING A YEAR AT A TIME.
SO WE MAY WANT TO INVEST IF, IF WE'RE GONNA MAINTAIN A 6, 9, 12 LADDER AS OPPOSED TO A A 6, 12 18, WE MIGHT WANT TO INVEST A LITTLE BIT MORE AND JUST EARN A LITTLE BIT HIGHER, A LITTLE BIT HIGHER INTEREST.
AND ON TOP OF THAT, SAY WHEN YOUR SIX MONTHS COME DUE, THAT'S A MILLION, SAY YOU ADD A MILLION TO IT AND THEN GO OUT 18 MONTHS OR TWO YEARS, YOU KNOW, TO CAPTURE THAT FOUR, FOUR OR 5% BEFORE IT GOES OUT.
SO WE CAN CORRECT, WE CAN ACTUALLY FORECAST IT AT THAT POINT.
WHEN YOU SAY FORECASTING, YOU REALLY BE ABLE TO SAY, LET'S GO AND LET'S BE AGGRESSIVE AND DO IT.
I MEAN, YOU, YOU, YOU SHOULD HAVE 2 MILLION THAT YOU CAN TAKE OUT FOR 18 MONTHS OR TWO YEARS.
THAT'S, AND THAT, AND, AND THAT, I DON'T THINK, THE ONLY UNKNOWN FOR US AT THIS POINT IN TIME IS IF WE'RE GOING TO HAVE A DEMAND AGAINST OUR FUND BALANCE IN, IN THE RELATIVELY SHORT PERIOD OF TIME THAT WOULD BE ASSOCIATED WITH THE BIOLIFE SCIENCE CAMPUS.
ORIGINALLY WE ANTICIPATED THAT THERE MIGHT BE A, A DEMAND AGAINST THAT IN THE HAMPTON ROAD CORRIDOR.
AND AS, AND AS LONG AS THAT IS TAKING TO MOVE FORWARD, UM, I DON'T, I DON'T SEE THAT BEING A A, AN ISSUE.
UM, BUT THE TIME THAT WE HAVE A NEED FOR CASH FROM THE DDC, WE'LL HAVE SOMETHING EXPIRING THAT WE COULD DO THAT.
NEVERMIND THE FACT, REMEMBER THAT RIGHT NOW, ONLY A THIRD OF OUR FUND BALANCE IS INVESTED.
SO WE HAVE $6 MILLION SITTING IN A MONEY MARKET.
IT'S EARNING INDECENT INTEREST TOO, DON'T GET ME WRONG.
BUT IT'S, IT'S VERY LIQUID AND THERE'S NOT ANY KIND OF DEMAND THAT WOULD DRAW THAT DOWN.
EXCUSE ANY, UH, FURTHER QUESTIONS FOR TRACY.
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YOU VERY MUCH.[B.2. City Council Liaison update regarding City events, meetings, etc. by Councilmember Andre Byrd]
UH, UH, COUNCIL MEMBER TON, ANDRE BIRD IS NOT WITH US, BUT WE WOULD HAVE THE CITY COUNCIL LIAISON UPDATE REGARDING CITY EVENTS AND MEETINGS, ET CETERA.SO WE'LL BYPASS THAT UNLESS YOU HAVE SOME
AND IN FACT, I ASKED FOR IF THERE WAS ANYTHING WE NEEDED TO CONVEY AND HE SAID THAT HE WAS GOOD UNTIL OUR NEXT MEETING, SO, OKAY.
WASHINGTON THIS WEEK, THEY ARE FOR THE NATIONAL LEAGUE OF CITIES.
UM, I DON'T KNOW THAT ALL OF THEM ARE, BUT A FAIR NUMBER OF THEM ARE.
SO FUNNY STORY, ON SUNDAY, I'M FLYING OUT OF DC FROM A CONFERENCE AND I SEE CITY COUNCIL COME WALKING DOWN THE AIRPORT.
WHAT ARE YOU GUYS DOING HERE?
WHAT IS THAT? SO THE NATIONAL LEAGUE OF CITIES, THERE ARE, THERE ARE A FEW, UM, ORGANIZATIONS THAT GATHER, UM, CITY LEADERS.
BUT ESSENTIALLY IT'S AN ANNUAL GATHERING.
I THINK THAT'S IN SEMI-ANNUAL, UH, GATHERING AS WELL, UM, OF CITY LEADERS, ELECTED LEADERS.
OPPORTUNITIES TO EXPLORE NEW, NEW, NEW, UH, NEW IDEAS AS IT RELATES TO ALL KINDS OF DIFFERENT THINGS.
THEY USUALLY HAVE GREAT, GREAT PANELS OF PRESENTERS AT THOSE, AND THEY'RE USUALLY ABOUT A FOUR OR FIVE DAY CONFERENCE, SO IT'S GOOD FOR US TO BE THERE.
AND I DON'T KNOW HOW WELL REPRESENTED WE ARE AT THAT.
I THINK THEY'VE ACTUALLY HAD TO POST BECAUSE THEY HAD POTENTIAL POTENTIAL FORUMS THEY POP UP THERE.
SO I THINK IT'S, IT IS GREAT THAT THEY'RE OUT, YOU KNOW, SORT OF SCRATCHING THEIR HEADS ABOUT, HEY, WHAT DOES THAT APPLY HERE? IS IT SOMETHING WE COULD DO A LOT OF BEST PRACTICE STUFF.
BUT OTHER MUNICIPALITIES OUR SIZE PROBABLY.
AND SOME OF IT IS HOW TO LOOK AT THE BUSINESS.
SO IT HELPS THEM CREATE THE RIGHT KIND OF PHILOSOPHY.
AND THE NATIONAL APPROACH I THINK IS FANTASTIC BECAUSE TEXAS, FOR BETTER OR FOR WORSE, HAS, HAS VERY MUCH AN INSULAR KIND OF AN APPROACH.
WELL, IS IT, OR ISN'T IT THAT, YOU KNOW, YOU CAN DEBATE THAT
UM, EVEN AROUND ECONOMIC DEVELOPMENT.
YOU KNOW, WHEN, WHEN I WAS LOOKING AT THIS JOB AND THEY SAID, OH, WELL YOU DON'T KNOW ABOUT TEXAS A CORPORATIONS.
AND I SAID, I WAS THE GROUND BEFORE AN A CORPORATION EXISTED, AND WE WERE DOING IT IN GEORGIA.
WE JUST CALLED IT SPECIAL LOCAL OPTION SALES TAX.
AND I WAS ASSISTING COMPANIES THAT WERE UTILIZING THAT ACROSS THE UNITED STATES.
TEXAS ISN'T ANY DIFFERENT, WE JUST CALLED IT SOMETHING DIFFERENT AND CODIFIED IT DIFFERENTLY.
BUT THESE, THERE'S LOTS OF IDEAS THAT ARE APPLICABLE.
THEY, THEY JUST MAYBE AREN'T BEING USED IN TEXAS TODAY.
I GO TO THE NATIONAL CONFERENCES FOR US AND LOOKING AT HOW ARE PEOPLE FINANCING DEALS, OR THERE WERE OTHER WAYS TO THINK ABOUT, UM, THE WAY THAT THEY'RE UTILIZING FUNDS, UM, THAT WE WOULD HAVE TO RETHINK THE WAY WE WOULD DO IT HERE IN TEXAS BECAUSE OF OUR STATUTES.
BUT IN MANY CASES IT DOESN'T REALLY LOOK THAT DIFFERENT FROM STATE TO STATE.
WELL, WITH REGARD TO THE CITY COUNCIL IS UPDATE, LET ME JUST SAY, I'D LIKE TO DO A SHOUT OUT TO, UH, DIRECTOR, UH, MARK JONES, UH, A COUPLE WEEKS AGO ON BEHALF OF THE BOARD, UM, UH, MEETING AT THE, UH, CITY COUNCIL MEETING AND, UH, SHARING WITH REGARD TO THE DECK.
SO THANK YOU VERY MUCH AND THAT, UH, AS THAT, UH, MOVED FORWARD.
SO THANK YOU FOR REPRESENTING, UH,
[B.3. Discussion of Board Member's status and succession planning]
NEXT WE'RE GONNA, UH, MOVE TO DISCUSSION OF THE BOARD MEMBER STATUS AND SUCCESSION PLANNING.SO THAT'S, THAT'S BEHIND, UH, TAB THREE IN YOUR BOOK.
IT'S A LITTLE PURPLE TAB, I THINK.
EXPECT, UM, THIS, THIS IS ON THE AGENDA AT THE REQUEST OF, OF THE PRESIDENT.
UM, JUST AS A WAY TO REMIND OURSELVES THAT IT WAS ABOUT THIS TIME A YEAR AGO, UM, THAT WE HAD A LITTLE BIT OF A DISCUSSION AROUND, UM, WHAT OUR BOARD TERMS LOOKED LIKE.
UM, HOW WE'VE STAGGERED THOSE, UH, IN, IN ACCORDANCE WITH, UH, THE TEXAS STATUTE AS IT RELATES TO B CORPORATIONS.
IT'S A LITTLE DIFFERENT THAN A, SO WE, WE MADE SOME ADJUSTMENTS, SEE, TWO YEARS AGO WHEN WE MOVED, MADE THAT MOVE ALMOST THREE YEARS AGO NOW THAN WE MADE THAT MOVE.
UM, WHAT YOU SEE ON, IN THAT, UM, IN THAT PIECE BEHIND TAB THREE IS THE WAY THAT WE DISCUSSED IT A YEAR AGO WITH BRANDON AND THAT, UM, UH, SEE THE APPOINTED DATES.
BUT REALLY THE, THE, THE KEY POINTS OF THIS IS YOU SEE THREE, THREE PIECES, THREE TRANCHES, IF YOU WILL, OF DIRECTORS EXPIRING, UH, TWO IN,
[00:15:01]
IN, UH, THE END OF FEBRUARY IN 25.SO A YEAR FROM NOW, TWO AT THE END OF 27 AND THREE AT THE END OF 29.
REMEMBER THAT SOME PEOPLE ARE ALREADY SERVING A SECOND TERM.
UM, REMEMBER THAT YOU WERE LIMITED TO THREE, TWO YEAR TERMS BY THE STATUTE, UM, AND THEY CAN RUN CONSECUTIVELY.
UM, BUT THAT, BUT YOU ARE LIMITED TO THREE, TWO YEAR TERMS. AND SO IT, IT, A YEAR AGO WHEN WE WERE HAVING THIS DISCUSSION, IT WAS REALLY JUST TO CODIFY, IF YOU WOULD, OUR THINKING AROUND IT.
IT DOESN'T MEAN IT CAN'T CHANGE.
UM, IF THERE'S SOME OF YOU WHO, UH, ARE THINKING, MAN, YOU KNOW, TWO YEARS IS A GRACIOUS PLENTY
AND THERE, THEN WE JUST NEED TO HAVE AN OPEN DISCUSSION AROUND IF THERE'S CHANGES, IF WE'RE GONNA CHANGE THIS, WE NEED TO, WE NEED TO DISCUSS THAT WITH COUNSEL AS WELL.
'CAUSE REMEMBER THEY APPOINT THE BOARD.
UM, AND AS WE GET TO, UM, THESE TERMS, WE HAVE TO GO THROUGH THIS PROCESS OF EVERYBODY GETS INTERVIEWED AGAIN AND THEN REAPPOINTED, OR WE POINT NEW ONES FOR THOSE THAT ARE ROLLING OFF.
SO I ONLY DO THIS AS A, AS A WAY FOR YOU TO SORT OF REMIND YOURSELF WHAT WE THINK YOU COMMITTED TO IN TERMS OF LATASHA AND MARK THAT YOU WOULD ROLL OFF NEXT YEAR.
UH, MR. BALDWIN, FELICIA, THAT YOU'D ROLL OFF IN 27, AND THEN AKILA AND, AND MCKAYLA AND, AND MONT, YOU WOULD ROLL OFF IN 29.
ANY QUESTIONS SURROUNDING THAT? GREAT.
WE JUST WANTED TO, UH, JUST CREATE AN AWARENESS FACTOR FOR EVERYONE THAT'S, THAT'S ALL.
CAN'T GO TO 26, BUT YOU CAN GO TO 27.
SO YOU MAY HAVE TO HAVE A NEW DIRECTOR BY THEN.
HE, HE DIDN'T WANT US TO PENCIL THAT IN.
I DIDN'T, YOU KNOW, WHEN BRANDON BROUGHT US TOO, JUST BEING RESPECTFUL, I KNOW THAT THERE'S CHANGES IN PEOPLE, BUT AT THE SAME TIME, I KNOW WHAT IT TAKES TO TRY TO FILL THE SPOT.
ESPECIALLY NOT THE RIGHT GROUP COMING TOGETHER.
AND, AND THERE'S A, THERE'S A VALUE TO CONTINUITY.
MAKE NO MISTAKE ABOUT IT FROM MY SEAT.
THERE'S A VALUE TO CONTINUITY.
I THINK THERE, FROM THE CITY'S STANDPOINT, THERE'S A VALUE TO CONTINUITY, ESPECIALLY GIVEN THE NUMBER OF PROJECTS THAT WE'RE CONSIDERING.
THAT IF YOU ROLL OUT A YEAR, SOME, SOME PORTION OF THOSE WILL BE IN A STAGE OF STANDING UP AND YOU ROLL OUT THREE YEARS FROM NOW AND YOU'RE GONNA SEE SOME OF THOSE BEGINNING TO DELIVER.
SO THERE'LL BE A LOT OF CHANGE.
AND THAT'S GONNA MEAN MORE PEOPLE TAKING A LOOK AT PROJECTS AND, AND MAKE A REQUEST FOR ASSISTANCE.
THE ENVIRONMENT'S ONLY GONNA GET BUSIER.
I GOT MINE SAID IT IS NOW CAST INTO THE RIGHT, LET'S SAY.
ANY FURTHER DISCUSSION ON THAT SUBJECT MATTER.
IF NEITHER OF THE 25 OR ONE OR SO YOU'RE NOT CHOSE TO, UM, REMAIN ON, THEN, WHAT IS THE TIMELINE FROM WHICH YOU BEGIN THE IMPROVEMENT PROCESS FOR FILLING THOSE VACANCIES? UM, THE SOONER I KNOW, THE BETTER.
UM, IF, IF, IF THERE'S A CHANGE OF FOOT, UM, MOSTLY BECAUSE WE WANT TO ENLIST OUR BOARD TO HELP US SHAPE THOSE VACANCIES.
UM, WE WORK A LITTLE DIFFERENTLY, UM, BECAUSE WE, WE'RE, WE'RE BOLD ENOUGH TO THINK THAT WE PROBABLY KNOW WHAT WE NEED.
UM, AND SO WE FORWARD GOOD CANDIDATES, WE VET THOSE CANDIDATES, WE HAVE CONVERSATIONS, AND THEN WE FORWARD THOSE TO OUR COUNCIL, UM, FOR CONSIDERATION.
IT DOESN'T MEAN THAT THEY HAVE TO CHOOSE FROM THOSE, RIGHT.
IT DOESN'T MEAN THEY HAVE TO POINT ANYBODY THAT WE, THAT WE PUT IN FRONT OF THEM.
BUT WE CERTAINLY LIKE THE IDEA OF AT LEAST SHARING WITH THEM THE BEST THINKING OF THIS GROUP IN TERMS OF IF SOMEBODY'S STEPPING OFF, HOW DO WE FILL THAT SPOT? BECAUSE I THINK WE'RE UNIQUELY POSITIONED TO UNDERSTAND THE VALUE ADDED OF ANYBODY STEPPING OFF.
AND, AND WE DON'T WANT TO LEAVE GAPING HOLES IN OUR, IN OUR CAPABILITIES.
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QUESTIONS? THAT'S GREAT.WELL, THANK YOU FOR SHARING AND THAT SUBJECT MATTER HEALTHY ONE FOR US ALL.
[B.4. Review and discussion of Marketing Blueprint — Golden Shovel Agency]
WE'RE GONNA MOVE TO THE REVIEW AND THE, UH, DISCUSSION OF THE MARKETING BLUEPRINT,UM, AND IF YOU REMEMBER, IT'S BEEN, OH, IT'S PROBABLY ALMOST SIX MONTHS AGO NOW, UM, THAT WE, UH, ASKED GOLDEN SHOVEL AGENCY TO TAKE A LOOK AT WHAT WE WERE DOING, UNDERSTAND WHAT WE WERE DOING, TAKE A LOOK AT OUR PAST, UM, AND HELP US TO CREATE A BLUEPRINT FOR A MARKETING STRATEGY GOING FORWARD.
UM, GOLDEN SHOVEL IS A FIRM I'VE WORKED WITH FOR LITERALLY YEARS.
UM, THEY'RE PARTICULARLY WELL SUITED IN THAT THEY, THEY DO MARKETING STRATEGIES FOR ECONOMIC DEVELOPMENT FIRMS, PERIOD.
AS OPPOSED TO LOTS OF OTHER ADVERTISING AGENCIES WHO JUST ASK 'EM, THEY CAN DO IT FOR ANYBODY.
UM, GOLDEN SHOVEL DOES THIS FOR 39 ENTITIES.
I THINK THEY'VE WORKED WITH OVER 800 ORGANIZATIONS.
UM, THEY GET ECONOMIC DEVELOPMENT AND PART OF THEIR, THEIR VALUE ADD, IF YOU WILL, IS THEY STAY ON TOP OF, MUCH LIKE WE WERE TALKING ABOUT NATIONAL TRENDS A MINUTE AGO.
AND SO THEY ASSIST US, UM, IN, AS WE, AS WE WORK THROUGH IMPLEMENTING A MARKETING STRATEGY.
THEY ASSIST US WITH COPYRIGHT, THEY ASSIST US WITH IDEAS.
THEY ASSIST US WITH, UH, LOOKING AT OUR PLANS OR OUR INDUSTRIES AND SEEING HOW THOSE ARE PLAYING OUT IN OTHER MARKETS.
THEY'RE, THEY'RE TREMENDOUS, TRULY A, TRULY A PARTNER.
UM, I THINK OF THEM AS A FORCE MULTIPLIER.
UM, WANDA DOES A GREAT JOB, UM, BUT THERE'S NO WAY SHE CAN BRING THE HORSEPOWER TO BEAR THAT THEY DO IN TERMS OF UNDERSTANDING THE, THE WIDER MARKET AND HELPING US TO KNOW WHAT MAKES US UNIQUE.
SO WE ASKED THEM TO GO THROUGH AND TAKE A LOOK.
THIS IS ABOUT NINE PAGES, IF YOU WILL.
UM, I DON'T INTEND TO REVIEW IT ALL TOGETHER TONIGHT.
UM, THE TOTAL REPORT WAS, INCLUDING THE APPENDICES, ENDED UP BEING ALMOST 75 PAGES.
UM, I DID NOT SEND IT ALL TO YOU.
I DIDN'T THINK YOU'D REALLY CARE TO READ IT.
UM, BUT I DO THINK THESE FIRST SEVEN PAGES, UM, DO A PRETTY GOOD JOB OF SUMMARIZING WHAT THEY, WHAT THEY SAW, WHAT THEY FOUND, UM, WHAT THEY, WHAT THEY THOUGHT WERE GAPS AND WHAT THEY THOUGHT WERE STRENGTHS, UM, AND, AND HOW WE MIGHT MOVE FORWARD.
IT LAYS OUT SORT OF THEIR KEY FINDINGS AND, AND WHAT THEY LEARNED FROM OUR CURRENT ONLINE STATUS AND, AND OUR WEBSITE AND WHAT THEY LEARNED FROM CONVERSATIONS WITH PEOPLE.
UM, AND THEN IT MOVES FORWARD TO MAKING SOME MARKETING RECOMMENDATIONS.
UM, AND, AND ESSENTIALLY WHAT LOOKS LIKE AN 18 MONTH STRATEGY, UM, OF CREATING, REDOING OUR WEBSITE, WHICH WE'VE KNOWN FOR IS DEFICIENT FOR THE LAST TWO YEARS.
UM, THAT WHEN I GOT HERE, IT WAS DEFICIENT AND IT STAYED THAT WAY BECAUSE WE REALLY NEEDED TO WORK THROUGH WHERE WE WERE HEADED.
UH, YOU KNOW, IF YOU DON'T KNOW WHERE YOU'RE GOING, ANY ROAD WILL DO.
UM, ONCE WE KIND OF HAVE FIGURED OUT WHAT OUR KEY INDUSTRIES ARE AND WHERE, WHAT ARE, WHAT ARE OUR ASSETS, HOW CAN WE BEST DISPLAY THOSE ASSETS? CAN WE EVEN TELL PEOPLE ABOUT THOSE ASSETS? ONCE WE WERE ABLE TO DO THAT, WE THOUGHT THERE WAS A MUCH BETTER OPPORTUNITY FOR US CREATING A MARKETING STRATEGY.
UM, YOU CAN SEE THE VARIOUS POINTS THAT THEY HAVE HERE OF MED, MIGRATING OUR WEBSITE FROM WHERE IT IS.
UM, AND THEN REDOING THAT, UH, TO ADD THE FUNCTIONALITY THAT THAT TECHNOLOGY ALLOWS US TODAY.
IT ALLOWS US A GREAT DEAL OF FUNCTIONALITY AROUND THINGS LIKE ANALYTICS AND REVERSE SEARCH.
PEOPLE WHO COME AND TOUCH OUR WEBSITE, WE GET A LOOK AND SAY, OH LOOK, THEY TOUCHED OUR WEBSITE.
AND THEN WE GET TO REACH BACK OUT TO 'EM.
UM, BUT NONETHELESS, UM, THE WAY THAT WE CAN TALK ABOUT PROPERTIES, THE WAY WE CAN TALK ABOUT PROJECTS, THE WAY WE CAN HIGHLIGHT THOSE, THOSE TECHNOLOGY HELPS US A LOT WITH ALL OF THOSE VARIOUS PIECES AND COMPONENTS.
THEY DON'T EXIST IN OUR WEBSITE TODAY.
WORKING FORWARD TO STANDING THOSE UP BECAUSE TRULY, UM, CUTTING EDGE AND, AND MY INSTRUCTIONS TO HOLD AND SHOVEL IS, I SAID, I'M NEVER OKAY WITH CUTTING EDGE.
I'M NOT HAPPY IF I'M NOT ON THE BLEEDING EDGE.
I REALLY WANT TO BE OUT THERE.
I WANT TO BE THE FOLKS THAT PEOPLE ARE LOOKING AT AND SAYING, HAVE YOU LOOKED AT THEIR WEBSITE? I WANT TO BE THE ONES THAT IEDC AT THE ANNUAL CONFERENCE SAYS, THIS IS AN EXAMPLE OF WHAT A CITY THAT 60,000 PEOPLE IS DOING.
UM, AND SO THAT'S WHAT WE'VE CHALLENGED THEM TO DO.
UM, AND TO ADVISE US HOW TO GET THERE.
UM, MONTHLY CONTENT, UM, AND STRATEGY LAYING OUT.
WHAT I ASKED 'EM TO DO WAS TO LAY OUT AN 18 MONTH STRATEGY,
[00:25:01]
UM, SO THAT IT'S STRADDLED TWO YEARS.UM, THAT GIVES US SOME LEVEL OF CONTINUITY.
UM, IF WE WANT TO CHANGE HORSES MIDSTREAM, WE CERTAINLY COULD.
UM, BUT THAT LET, THAT LETS US AT LEAST HAVE SOME LEVEL OF UNDERSTANDING ABOUT WHO WE'RE CHASING, WHAT THE MESSAGE IS, WHAT THE RAPIDITY OF THAT MESSAGE LOOKS LIKE, AND WHAT ARE THE VARIOUS CHANNELS THAT WE'RE USING TO ADDRESS THOSE AUDIENCES.
UM, THEY HAVE SOME PRETTY INTERESTING IDEAS ABOUT HOW TO INTEGRATE THAT CAMPAIGN ACROSS, NOT JUST THE WEBSITE, BUT THOSE SOCIAL MEDIA, PRINT MEDIA.
UM, THIS IS A COMPANY THAT, UM, HELPED ME TO UNDERSTAND THE, THE WORLD OF GEOCACHING.
I DON'T EVEN KNOW WHAT IT WAS.
AND I SAID, HERE'S MY PROBLEM.
WE CAN'T FIND FINTECH PROGRAMMERS AND WE HAVE A, WE NEED 'EM, WE NEEDED 'EM BAD.
AND THEY SAID, WELL, THAT'S EASY.
DO YOU KNOW WHERE THEY ARE? I SAID, YEAH, I KNOW WHERE THEY ARE IN VARIOUS PARTS OF THE COUNTRY.
SO THEY LITERALLY PUT LIKE AN ELECTRONIC FENCE AROUND THEM AND THEN THEY START USING THEIR OWN TOOLS.
YOUR WEB, YOUR FACEBOOK, YOUR LINKEDINS TO START INUNDATING YOU WITH.
HAVE YOU LOOKED AT, UH, HAVE YOU LOOKED AT PARKER RECENTLY? THEY'RE LOOKING FOR FINTECH PROGRAMMERS.
HAVE YOU LOOKED AT THE OPPORTUNITIES THERE? HERE ARE THE DIFFERENT KINDS OF, OF JOBS THAT ARE THERE.
HERE'S THE KINDS OF COMPANIES.
AND SO WE WENT FROM HAVING A SHORTAGE OF SOMEWHERE AROUND 700 PROGRAMMERS TO FILLING THAT IN ABOUT NINE MONTHS.
THEY, WE CAN DO THAT FOR ANY INDUSTRY.
WE CAN USE THOSE KINDS OF TOOLS.
IF WE, IF WE KNOW WHO THE AUDIENCE IS, WE KNOW WHAT WE WANT, WE CAN GO HUNTING THEM.
AND IT'S A LITTLE BIT LIKE SHOOTING FISH IN THE BARREL.
UM, IT, IT'S THE BEST FISH FINDER YOU EVER DID COME ACROSS.
WELL, YOU KNOW, WE'VE SORT OF NAILED OURSELVES INTO OR SUGGESTED THAT WE HAVE A OPPORTUNITY IN FOUR VERY UNIQUE AREAS THAT, AND NOW WE KNOW WHAT THE, THE JOBS IN THOSE UNIQUE AREAS LOOK LIKE.
BIOTECH, YOU KNOW, THERE ARE, I DON'T REMEMBER HOW MANY THE LABOR INSTITUTE OUT AT OR THE LABOR OFFICES OUT OF DALLAS COLLEGE WAS GOOD ENOUGH TO SAY, HERE ARE THE JOB CODES THAT MAKE THAT UP.
WELL, IF WE KNOW THE INDUSTRY AND NOW WE KNOW THE JOBS, WE CAN START LOOKING FOR THOSE PEOPLE TO ADD INTO THIS MARKET.
EVEN IF THEY DON'T EXIST HERE TODAY.
HEY, FOUR OH OH, PEOPLE ARE GONNA GET OFF THE AIRPLANE TOMORROW AND NOT GO HOME.
WE MIGHT AS WELL MAKE SURE THERE ARE FOUR OH PEOPLE THAT WANNA LIVE IN DESOTA AND WANT TO DO THE JOBS WE GOT.
AND YOU MATCH SKILL WITH PEOPLE.
AND THAT'S EXACTLY WHAT THEY START TO TALK ABOUT IN HERE IN TERMS OF INBOUND MARKETING.
THEY TALK ABOUT INTEGRATED CAMPAIGN.
THESE ARE THE, THESE ARE THE COMPONENTS THAT WE ANTICIPATE, UM, BEING A PART OF OUR MARKETING STRATEGY GOING FORWARD.
THEY HELP US TO DO THE ANALYTICS TO, ON A MONTHLY BASIS, TAKE A LOOK AT WHAT ARE THE ANALYTICS OF OUR WEBSITE, WHAT ARE THE, WHAT ARE THE PLACES WHERE WE'RE BEING SUCCESSFUL.
UM, YOU KNOW, I DON'T KNOW ALL THAT MUCH ABOUT MARKETING, BUT WHAT I DO KNOW IS THE, THE BASIS THAT SAYS, DO A LOT OF STUFF AND THEN FIGURE OUT WHAT WORKS AND THEN DO LESS OF WHAT DIDN'T AND MORE OF WHAT DID AND TRACK.
FIGURE OUT WHICH ATTRACTS THAT'S RIGHT.
AND, AND IF YOU'RE, AND IF YOU'RE STILL NOT HITTING A TARGET THAT YOU NEED TO HIT, THEN WE START TO CHANGE SOME OF THE MECHANICS TO GET US THERE.
BUT THAT'S, THAT'S REALLY, WE, WE DO NOTHING IN TERMS OF MEASURING ANY OF THAT KIND OF, UH, OF ACTIVITY TODAY.
UM, I HAD TO LAUGH BECAUSE ONE OF THE CONVERSATIONS WE HAD WITH THEM WAS STANDING UP THOSE ANALYTICS LITERALLY FROM DAY ONE.
BUT IF I'M STARTING FROM ZERO, I'M NOT INTERESTED.
IF THERE ARE TWO, WHAT I WANT TO KNOW IS WHEN I GET TO 20, AND IF THAT TAKES ME THREE OR FOUR MONTHS, I GET TO SAVE THAT COST FOR THREE OR FOUR MONTHS.
I'D RATHER WAIT AND THEN START AT 20 AND START TO MEASURE FROM THERE.
I DON'T NEED TO PAY FOR THE PRODUCT IF IT'S NOT GONNA TELL ME ANYTHING FOR THREE OR FOUR MONTHS.
'CAUSE I HAVEN'T BEEN DOING ANYTHING FOR A LONG, LONG TIME.
UM, FINALLY THE LAST COUPLE, THE LAST COUPLE PIECES OF THIS TALK ABOUT THE STRATEGY DEVELOPMENT IN AN 18 MONTH MARKETING CAMPAIGN.
UM, THEY GO ON TO LAY OUT THAT MARKETING CAMPAIGN AND ALL THE PIECES THAT ARE IN IT.
UM, THE LAST PIECE THAT YOU SEE IN YOUR BOOK IS A TIMELINE.
THOSE FIRST FOUR ITEMS ARE WHAT WE'VE DONE AS PART OF THE BLUEPRINT.
UM, IT ONE OF THE THINGS THAT I ASKED THEM TO DO, AND THEY DID BECAUSE THE CITY WAS REVAMPING ITS WEBSITE AND THEY HAVE A UNIQUE LOOK AND FEEL.
I SAID, WE CAN'T JUST IGNORE THAT AS IF IT DOESN'T EXIST.
WE NEED TO HAVE SOME NOD TO THE FACT THAT WE ARE PART OF THE CITY, THOUGH WE ARE SEPARATE AND DISTINCT AND WE WANNA REMAIN THAT WAY.
KISS OF DEATH FOR AN ECONOMIC DEVELOPMENT ORGANIZATION IS TO LOOK LIKE YOU'RE PART OF THE CITY.
'CAUSE IT JUST SEEMS CUMBERSOME.
SO WE WANNA MAINTAIN OUR, OUR OWN URL.
WE WANNA MAINTAIN OUR OWN IDENTITY, BUT WE ALSO WANT PEOPLE TO KNOW WE'RE
[00:30:01]
PART OF THE CITY.SO THEY STARTED LAYING OUT ALREADY, HERE'S WHAT THAT WIRE FRAME WOULD LOOK LIKE.
IT INVOLVES THE CHICKEN'S WINGS OR THE EAGLE'S WINGS.
AND, YOU KNOW, WE COLORING AND THOSE TYPES OF THINGS ARE ALREADY PART OF, UH, A SCHEME, IF YOU WOULD, THAT WOULD ALLOW US TO GO FORWARD.
UM, AND THEN IT LAYS OUT SORT OF MONTH BY MONTH, THINK ABOUT THE FACT THAT WE'RE IN MONTH BETWEEN MONTH THREE AND MONTH FOUR.
RIGHT NOW, YOU CAN COUNT OUT SIX MONTHS AND KNOW WHERE THE END OF THE YEAR IS.
YOU CAN SEE WE SPLIT OVER INTO THE NEXT, INTO THE NEXT FISCAL YEAR.
AND WE ANTICIPATE THERE WILL BE, UM, THE ONGOING PORTION OF THIS 18 MONTH PROGRAM IN THE NEXT FISCAL YEAR.
UM, TOTAL, TOTAL FEE, TOTAL FEES THAT WE'LL COMMIT TO, UM, AS PART OF GETTING THE WEBSITE.
AND THE INITIAL CAMPAIGN AND STRATEGY LAID OUT IS ABOUT $26,000.
UM, IT'S PART OF OUR PROGRAM OF WORK.
UM, BUT I WANTED Y'ALL TO BE AWARE OF THAT.
WE'LL LIKELY SPEND ABOUT ANOTHER $10,000 AS WELL OF THE 50 THAT WE HAD BUDGETED FOR, UM, ALREADY THIS YEAR.
IF WE'RE ABLE TO GET THIS STOOD UP AS QUICKLY AS WE HOPE WE'LL START TO DO TARGET TARGET MARKETING AND THERE'S A COST TO THAT.
UM, AND SO THAT'LL HAPPEN PROBABLY AT THE VERY END OF THIS YEAR, AUGUST, SEPTEMBER.
IF IT DOES HAPPEN IN THIS FISCAL YEAR, IT'D BE TOWARDS AUGUST, SEPTEMBER TIMEFRAME.
WE'LL JUST ROLL IT INTO NEXT YEAR.
THOUGHTS, QUESTIONS, COMMENTS.
SO I HAVE TWO, UH, THOUGHTS, LAST QUESTIONS OR CON COMMENT.
UM, SO THE FIRST ONE WAS, UM, I ASKED THAT SECOND.
SO THE FIRST ONE WAS, DID THEY MENTION ANYTHING ABOUT ARTIFICIAL INTELLIGENCE MARKETING KIND OF GOING FORWARD? IS THERE ANY MISSION OR DISCUSSION AROUND THAT? OH YES.
UM, AND IN TERMS OF, UM, PREDICTIVE ANALYTICS.
THEY'RE, THEY'RE WELL INTO USING THOSE, THOSE TOOLS INSIDE OF THEIRS.
WE HAVEN'T, IN TERMS OF THEIR, THEIR CLIENTS, WE HAVEN'T DONE IT HERE.
THE INTENTION IS FOR US, BECAUSE WE'RE GOING TO THE BIOLIFE SCIENCE CONFERENCE AND THEN JUNE, UM, WE WOULD REALLY LIKE FOR THE NEW WEBSITE TO BE STOOD UP BY THEN.
IT LEAVES 'EM BASICALLY HALF OF MARCH, APRIL AND MAY.
THEY USUALLY TAKE SOMEWHERE BETWEEN THREE TO FOUR MONTHS.
WE'RE ASKING 'EM TO DO IT IN TWO AND A HALF.
UM, THEY'RE TELLING US THAT THEY CAN.
UM, SO WE WE'RE HOPING WE'RE GONNA BE KIND OF AHEAD OF THE CURVE.
UM, AND THERE'S JUST, THERE'S JUST A LOT OF WORK TO BE DONE.
UM, A WHOLE LOT OF, OF, OF INFORMATION FLOW BACK AND FORTH IN A SHORT PERIOD OF TIME.
IF THEY DON'T MAKE IT, IT'LL, BECAUSE WE DON'T MAKE, WE DON'T MEET THE DATES.
WE AREN'T JUST SITTING AROUND WAITING FOR IT.
THERE'S SOME THAT THINK, ESPECIALLY IN THE AI COMMUNITY THAT, YOU KNOW, SEO AND THOSE THINGS, IT'S NOT THAT THEY WON'T MATTER, BUT THEY'LL BE LESS RELEVANT WHEN WE START PREDICTING.
I JUST, I WANTED TO PUT THAT IN THERE.
AND THEN I GUESS I'M A BELIEVER IN YOU, YOU KNOW, YOU CAN'T SEE WHAT YOU CAN'T MEASURE.
SO CAN YOU KIND OF RE-EXPLAIN, NOT MEASURING FROM THE VERY BEGINNING OR JUST, I, I KNOW THE THOUGHT PROCESS OF NOT MEASURING AND WAITING TILL YOU GET AN END OF, I DON'T KNOW, 10 TO 20.
BUT I'M JUST, I'M JUST CURIOUS AS TO WHY YOU WOULDN'T MEASURE FROM THE BEGINNING.
WELL, AND, AND THERE'S NO MAGIC TO AN END OF 10 OR 20.
RIGHT? UM, IT, THE, THE POINT WAS, WE, WE ARE LITERALLY STARTING FROM DEAD STOP.
AND THERE'S NO, THERE'S NO DOUBT WE WILL START TO GET SOME TRACTION.
RIGHT? BUT IS IT TRACTION FROM THE PLACES YOU WANT? OR IS YOUR MESSAGE REACHING YOUR TARGET AUDIENCES? ESPECIALLY WHEN YOU HAVEN'T EVEN STARTED TARGETED MESSAGING YET.
SO ARE YOU BUILDING SOME SORT OF AWARENESS OR ARE YOU GETTING TRACTION WITH THE TARGET MARKETS? AND THAT'S REALLY KIND OF THE, THE, THE HAIR SPLITTING WE WERE DOING WAS AT SOME POINT, THIS IS JUST A NEW WEBSITE AND THAT'S KIND OF NEAT AND IT'S, THERE'S A G WHIZ FACTOR, BUT IT DOESN'T MEAN MUCH TO US.
AND IF EVEN IF WE HAD 200 VISITS, I'M MAKING UP A NUMBER AGAIN, 200 VISITS.
THE QUESTION IS, IS ARE THEY 200 RELEVANT VISITS? AND WE WON'T KNOW THAT.
AND THERE'LL BE A POINT WHERE WE ANTICIPATE THAT THAT 200 WILL DROP OFF AND THEN IT'LL START TO CLIMB AGAIN.
BECAUSE WE REALLY ARE GETTING TARGETED MESSAGES IN FRONT OF THE PEOPLE WHO NEED IT.
THEY'RE MAKING LEGITIMATE INQUIRIES IN THE INDUSTRIES THAT WE'RE WANTING TO TALK ABOUT.
[00:35:01]
AND THAT'S WHERE WE THINK IT'S PROBABLY MORE MEANINGFUL.I THINK THE COST TO, TO BEGIN THAT MEASUREMENT IS SOMETHING ABOUT, HELP ME, ANTOINE.
UH, FOR SOME REASON, SIX CAME TO MIND.
'CAUSE IT'S 26 AND IT WAS A LITTLE OVER 30, SO BETWEEN FOUR AND $5,000.
SO WE DON'T SAVE A WHOLE LOT OF MONEY BY, BY STANDING IT OFF FOR FOUR MONTHS, A COUPLE THOUSAND BUCKS.
SO HOW WOULD YOU KNOW IF YOU'RE NOT MEASURED FROM THE VERY BEGINNING WHO YOU'RE ATTRACTING? WELL, AND AND PART OF WHY I'M ALSO SAYING THAT IS THAT YES, YOU HAVEN'T STARTED TARGETED MARKETING, BUT WHAT IF SOMEBODY IS CHOOSING YOU, LIKE AT THE FIRST 200 OR OUTSIDE OR UNEXPECTED TRAFFIC OR INTEREST? AND WE DIDN'T MEASURE THAT.
I WANT TO KNOW FROM THE VERY BEGINNING.
I, I DON'T THINK THAT'S AN INVALID, I DON'T THINK THAT'S AN INVALID THOUGHT AT ALL.
UM, MY THOUGHT PROCESS IN, IN LOOKING THROUGH THAT WAS, UM, 'CAUSE WE HAD THIS CON, WE HAD THIS CONVERSATION ANON AND I DID.
UM, AND, AND HE WAS ASKING THE VERY SAME QUESTIONS.
AND I SAID, IF SOMEBODY IS SELECTING US, THE INFORMATION IS THERE.
IF SOMEBODY WANTS TO KNOW, THEY'LL PICK UP THE PHONE AND CALL.
REALLY, THAT'S WHAT WE'RE HOPING FOR, RIGHT? WE HOPE THERE'S A PROCESS THAT CHANGES INTEREST TO INQUIRY AND INQUIRY TO PROJECT, UM, AND THEN A PROJECT INTO IT.
I WOULD SAY SOME OF THE INITIAL DATA THAT WE CAN PULL IS AT LEAST GEOGRAPHY DRIVEN.
SO I THINK THAT IS SOME OF THE INITIAL DATA THAT WE WANT TO KIND OF UNDERSTAND, ESPECIALLY WHEN WE TALK ABOUT THE BIOTECH LIFE SCIENCE RECRUITMENT, KNOWING THAT WE'RE GOING ON THE WEST COAST, KNOWING THE EAST COAST.
ARE WE GETTING THOSE HITS? IS THAT KIND OF THE RIGHT MARKETING? BUT I THINK FROM THERE IT'LL GO A MUCH DEEPER TINY FILTER OUT TO YOUR QUESTION, TO GET TO THE CREEPY LEVEL.
TAKES BIT, TAKES A LITTLE BIT MORE.
BUT IT, IT, IT, MAYBE I'M JUST PATHOLOGICALLY FRUGAL
YOU KNOW, WE, WE, WE HAVE HOUR LONG DISCUSSIONS ABOUT A $2,000 GRANT.
YOU KNOW, IF I COULD SAVE 2000 BUCKS, IT'S 2000 BUCKS.
I'M NOT SURE THAT IT, THAT IT, THAT IT IS, THAT IT'S INCONSEQUENTIAL THAT WE DON'T HAVE THAT DATA.
THE WORST THAT CAN HAPPEN IS WE HAVE IT.
IF, IF Y'ALL FEEL LIKE I'M BEING TOO FRUGAL, SAY SO I'M OKAY WITH THAT.
NO, I'M JUST, I, I'M REALLY JUST ASKING AND I'M NOT, I THINK IT'S SOMETHING THAT I DON'T THINK WE HAVE TO MAKE A DECISION RIGHT HERE, RIGHT NOW, BUT I THINK IT IS SOMETHING THAT CONSIDER, YOU KNOW, WE, YEAH.
IF YOU WERE STARTING A COMPANY AND YOU SAY, OKAY, WE'RE NOT GONNA START MEASURING TILL LATER.
YOU MAY NEED SOME EARLY RETURNS.
SO I'M THINKING IN TERMS OF POSSIBLE, I'M TALKING IN TERMS OF VALUE, NOT ACTUAL COST.
SO IS THE VALUE OF HAVING, 'CAUSE I THINK THAT'S THE BEST TIME TO MEASURE.
SO IT'S LIKE, ALL RIGHT, FINE.
IT IS ALMOST LIKE WE HAVE A CLEAN SLATE.
AND WE CAN START MEASURING AND GET VERY ORGANIC DATA VERY EARLY ON AND AGGREGATE THAT DATA.
I MEAN, DATA IS POWER IS VALUE.
SO I, I JUST THINK IF, IF IT'S, IF THE COST IS NOMINAL, THEN IT SEEMS TO ME THE VALUE PROPOSITION IS GREATER THAN $2,000.
I'VE, I'VE GOT NO PROBLEM WITH THAT AT ALL.
SO I, I WOULD SAY JUST KIND OF PIGGYBACK WHEN YOU THINK ABOUT IT FROM THE STANDPOINT, WHAT'S OUR CURRENT SITUATION? WHAT'S OUR, OUR HYPOTHESIS IN DOING THIS? MM-HMM.
WE'VE LOOKED AT THE PROGRAMS THAT WE'VE PRESENTED AND WE'VE SAID WE'VE QUESTIONED THEM.
AND WE'VE, UH, CHALLENGED IN SOME CASES AND WE AUGMENT IT.
SO IT IT VERY, VERY SPOT ON OBSERVATION.
IF YOU GO, AND IT MAY CAUSE YOU TO TARGET SOMETHING DIFFERENT WHEN YOU START PAYING FOR ADS.
SO NOW YOU BETTER DIRECT THE FUND TO PAY LIKE, YOU KNOW, THE, YOU KNOW, NOW YOU ARE IN INVESTING AND PAYING WITH KNOWLEDGE AND DATA IN HAND.
AND YOUR ROI COULD POTENTIALLY BE BETTER OR YOU BETTER HIRE EARLIER.
HIRE EARLY, BETTER DIRECT THE DOLLARS.
WE'LL MAKE THE 2000 BACK QUICKER.
SO, SO ANOTHER QUESTION, UM, AS WE LOOK AT THE GOLDEN SHOVEL, I, I THINK IT MAKES A LOT OF SENSE TO THINK IT'S A LOT OF VALUE.
JUST ENSURING THAT THE TIE IN OR THE ALIGNMENT TO, WHEN WE TALK ABOUT THE HAMPTON ROAD PROJECT AND THINGS OF THAT NATURE,
[00:40:01]
THAT THERE'S SYNERGIES THERE IN ALL OF THEIR EFFORTS TO OH YEAH.CLEARLY ALIGN WITH WHAT WE'RE LOOKING TO ACHIEVE AND THE COMMUNICATION.
BECAUSE THIS IS WHAT OUR RESIDENTS WILL LOOK AT ALSO TO SAY WHAT'S THEIR CONTINUITY.
SO, AND AGAIN, THAT'S A FORM OF MEASUREMENT.
I LOVE WHAT THEY'RE TALKING ABOUT.
OUR, OUR INTENTION AND OUR, OUR STATED INTENTION TO OUR PARTNERS AT COLD AND SHOVEL IS WE WANT TO BE THE GO-TO SOURCE FOR INFORMATION IN DESOTO.
THAT, THAT DOESN'T EXIST ANYWHERE ELSE.
IF, IF SOMEBODY WANTS TO KNOW WHAT A PROJECT IS, I MEAN, I HAD A LAUGH.
I WAS CALLING, MAKING A DENTAL APPOINTMENT TODAY, AND I HAPPENED TO TELL HIM I WORKED FOR THE CITY.
HE SAID, OH YEAH, YOUR APPOINTMENT'S ON MAY 6TH, BUT DO YOU KNOW WHAT'S GOING IN ACROSS THE STREET?
WE NEED TO FOCUS ON EDUCATION AND COMMUNICATION.
AND IF WE BECOME THE TRUSTED SOURCE AND, AND PEOPLE SEE US THAT WAY, I THINK THAT'S A HUGE WIN NO MATTER HOW WE MEASURE IT, EVEN IF IT DOESN'T HAVE A PAYBACK.
UM, I THINK THERE'S, UH, A BETTER ALIGNMENT ACROSS ALL OF THE COMPONENTS IN THE, IN THE CITY THAT YOU'RE TALKING ABOUT.
SO THIS, ANY ADDITIONAL QUESTIONS? THIS SEGUES TO SOMETHING ELSE FROM MY POINT, IF I MAY.
I DIDN'T GIVE IN THE SEGUE TO IT.
I PROMISE
HE SAID, WHEN THERE'S SOMETHING THAT'S ON, ON THE AGENDA, WE SKIP IT TO MIKE, MIKE TALK ABOUT IT.
UM, I'M GONNA SAY, I DON'T HAVE ANY SPECIFIC QUESTIONS.
I DO UNDERSTAND THE REASON BEHIND, LIKE DELAYING GETTING THE DATA.
THE ONLY REASON WHY IS 'CAUSE EVEN IF WE GET THE DATA EARLY, IT CAN MAKE THE DATA DIRTY.
AND I THINK SOMETIMES, LIKE, LIKE IF WE USE IT AS A BASIS, IT'S ALMOST LIKE I THINK THAT MONEY COULD BE BETTER USED NOT COLLECTING THE DATA IN THAT WAY, BUT ESSENTIALLY DOING LIKE A FOCUS GROUP OR SOMETHING DIFFERENT THAT WOULD ACTUALLY GIVE US MORE DIRECTED TANGIBLE RESULTS DURING THAT TIME.
BECAUSE I FEEL LIKE IF YOU HAVEN'T TECHNICALLY CHANGED YOUR WEBSITE, YOU'RE NOT TECHNICALLY CHANGING WHAT YOU ATTRACT.
LIKE THE TWO MONTHS OR THREE MONTHS MAY LOOK EXACTLY THE SAME OR IT MAY LOOK VASTLY DIFFERENT.
BUT SOMETIMES IT MAY JUST BE LIKE, OH, SOMEBODY WANTS TO BE ON THE WEBSITE OR THEY JUST HAPPEN TO FIND THEIR WAY, THEIR WAY THERE.
SO I THINK FROM MY BASIS, I DO SEE WHY THERE'S A DELAY.
SO IT'S NOT LIKE A MONEY OR ANYTHING LIKE THAT.
BUT I DO THINK THAT IF WE ARE CONSIDERING THE USE OF POTENTIALLY COLLECTING DATA FOR A SPECIFIC REASON, I WOULD ACTUALLY CHALLENGE US TO CONSIDER A CLEANER DATA FORMAT THAT COULD GIVE US MORE TANGIBLE RESULTS.
NOT ONLY IN THE IMPRESSIONS OR THE AD SPACE, BUT IN THE PREDICTIVE ANALYTICS SPACE.
BEFORE WE GET TO THIS TAKEOVER AI, WE CAN HAVE SOMETHING.
UM, AND I ONLY SAY THAT NOW 'CAUSE WE'RE DOING THAT AT DALLAS COLLEGE.
WE HAVE LIKE A MILLION DOLLAR MARKETING CAMPAIGN AND WE STILL, WE DIDN'T COLLECT DATA THE FIRST THREE MONTHS.
BECAUSE THE WEBSITE, IT WASN'T WHERE IT NEEDED TO BE.
SO WHEN WE HAD A HUNDRED THOUSAND IMPRESSIONS, WE REALLY COULDN'T USE ANY BECAUSE IT WAS PEOPLE JUST CLICKING ON STUFF OR THEY FOUND THIS WAY.
OR SOMETIMES IT WASN'T EVEN LIKE THE GROUP WE WANTED TO TARGET.
IT WAS, YOU KNOW, SOMEBODY FROM ANOTHER PLACE POTENTIALLY JUST LIKE, OH, THIS IS COOL.
THEY HAVE THESE NEW PROGRAMS, BUT I'M NOT YOUR TARGET AUDIENCE.
SO WE USED THAT AND INSTEAD DID A FOCUS GROUP.
AND THE FOCUS GROUP GAVE US MORE SPECIFIC LANGUAGE AND, UM, GRAPHICS AND DIRECTION THAT WE ACTUALLY USED.
SO WHEN WE GOT OUR NEXT A HUNDRED THOUSAND IMPRESSIONS, IT WAS A LOT CLEANER AND MORE USEFUL.
AND OUR AD SPIN WAS A LOT BETTER BECAUSE WE GOT BETTER CLICKS.
SO THAT KIND OF HELPED IN THE LONG RUN.
SO JUST SAYING DELAY DATA COLLECTION UNTIL YOU BUILD THE WEBSITE, IS THAT, IS THAT WHAT, SO JUST TO PL OUT OR START AC ACTUALLY IT WOULD, THERE'S NO, THERE'S NO ANALYTICS TO GATHER NOW BECAUSE WE'VE GOT A WEBSITE THAT DOES NOTHING.
THE, THE IDEA WAS THAT GET THE WEBSITE STOOD UP AND THEN SOME PERIOD, YOU KNOW, LOOK, OBVIOUSLY LOOK AND SEE WHAT KIND OF TRAFFIC YOU'RE GETTING.
BUT MY PREMISE WAS THERE'LL BE A POINT, THERE'S AN INFLECTION POINT IN THAT CURVE AND THAT'S, THAT'S WHERE YOU OUGHT TO START MEASURING.
AS, BECAUSE WE MAY BUMP ALONG AT ZERO FOR TWO OR THREE MONTHS.
WE DON'T, WE DON'T REALLY KNOW.
AND THAT WAS THE ONLY REASON FOR THE, THE DELAY.
WELL THEN IN THIS CONVERSATION WE GET TO DRIVE HOW WE DRIVE A NEW WEBSITE.
SO WE WILL HAVE SOME INFORMATION ON WHERE WE'RE PUTTING IT AT OUR NEW EFFORT.
BUT THERE'S GONNA BE SOME COLLECTING THAT WE'RE NOW FOCUSING ON THIS SPACE VERSUS THAT SPACE.
THIS IS WHERE WE'VE BEEN ALL THIS TIME, BUT NOW WE KNOW THAT WE, WE NEED WORK.
A LOT OF OUR HISTORICAL BEEN OVER HERE AND WE'RE GOING IN A DIFFERENT DIRECTION, WE'RE GONNA FOCUS THERE.
[00:45:01]
RIGHT? MM-HMM.SO IT'S GOING TO BE A DIFFERENT, UM, GROUP EVEN LOOKING BECAUSE OUR FOCUS NOW WE'RE CLEAN, NOW WE'RE NEW, NOW WE'RE FRESH AND WE GOING TO BE, WE GONNA DO MORE TARGET MARKETING WITH IT.
SO IT'S VERY INTERESTING SCENARIO.
NOT NECESSARILY THE MONEY, BUT BOTH POINTS ARE ARE RELATIVE.
WELL AND IF YOU THINK ABOUT THE AI, EVERYTHING I READ ABOUT USING AI IS INPUT MATTERS.
SO IF YOU'RE GIVEN A GARBAGE TO START BEING PREDICTIVE WITH, THEN GARBAGE IN, GARBAGE OUT.
IT IT IS DIRECTING YOU IN AREAS THAT MAY NOT MAKE SENSE.
NOW IT MIGHT EVEN CALL YOU STUPID.
FEEL TELLING YOU, I REMEMBER NOT EVERYBODY DOES IT PRETTY BAD.
IT IS ALMOST LIKE LOOKING AT YOU LIKE, WHAT
I I GUESS MY THINKING IS, IS IF WE'RE, IF WE'RE INDIFFERENT TO THE FUNDS, THEN WHY NOT MEASURE IT? WE HAVE CONTROL OVER WHAT WE INCLUDE, RIGHT? I MEAN WE CAN ALWAYS SHAVE OFF HERE, HERE'S AUGUST'S DATA, EH, SHAVE THAT OFF.
WHERE'D IT COME FROM? WELL, WE DON'T REALLY KNOW.
IS IT ENOUGH TO WORRY ABOUT, EH, RIGHT.
WE, WE CAN, WE CAN MAKE SOME DECISIONS ALONG THE WAY.
IT COSTS US A COUPLE THOUSAND BUCKS TO BE ABLE TO HAVE THAT ABILITY.
AS LONG AS WHAT I'M HEARING IS THAT YOU DON'T CARE IF WE SPEND A THOUSAND DOLLARS OR $2,000 THEN, I MEAN, 'CAUSE THAT'S REALLY THE DIFFERENTIAL.
AND I'D SAY WHY NOT? BECAUSE I THINK I'M HEARING REALLY GREAT.
YOU, YOUR THOUGHTS WERE EXACTLY WHERE MY WERE, WHICH WAS I JUST GOT A BUNCH OF DIRTY DATA POINTS.
IT DOESN'T MEAN I CAN'T DRAW A LINE BETWEEN IT, BUT IT DOESN'T MEAN THE LINE IS, IS RELEVANT.
I DON'T HAVE ANY PROBLEM COLLECTING IT.
AND THEN JUST SEEING WHERE WE ARE.
WE JUST HAVE TO DECIDE WHAT WE CAN DO IT.
WE DON'T HAVE TO DECIDE THAT TODAY.
WE HAVE TO DECIDE IF WE'RE GONNA HAVE 'EM GATHER IT.
AND WE'RE, AND THAT'S JUST A CONTRACT.
AND THEN WE CAN ALWAYS AMEND THE CONTRACT.
ANY ADDITIONAL QUESTIONS? RIGHT? SOMETHING RIGHT.
SO I WOULD BE REMISS, I'M GOING TO DEVIATE A LITTLE BIT IF I MAY.
AND I WANT TO TAKE ADVANTAGE OF THIS OPPORTUNITY IN LIGHT OF THIS, UH, INFORMATION REGARDING GOLDEN SHOVEL.
THESE TYPE OF PROGRAMS THAT I THINK RESONATE WITH THE VALUE OF WHAT WE'RE DOING, UM, AS A CITY AND HOW WE ARRIVE AT OUR OBJECTIVE MEETING, OUR OBJECTIVES.
I WANTED TO TAKE ADVANTAGE OF THIS MOMENT TO, UH, REALLY APPLAUD AND RECOGNIZE STAFF FOR THE CERTIFICATE OF ACHIEVEMENT FOR ECONOMIC EX EXCELLENCE THAT WAS, UH, PRESENTED A FEW WEEKS AGO.
I JUST WANNA APOLOGIZE 'CAUSE IT'S A STATEMENT.
IT MAKES A DIFFERENCE IN THE CHARACTER AND THE APPEAL FOR OUR CITY AND FOR OUR WORKING COLLABORATIVE SPIRIT AS BOARD AND, AND, AND A DEPARTMENT.
AND IT DOESN'T SPEAK JUST LOCAL, IT SPEAKS GLOBAL IN MANY WAYS.
IT'S, YOU KNOW, YOU GO FROM LOCAL TO REGIONAL TO NATIONAL AND, AND THEY'RE MOVING AROUND.
AND WHEN YOU START TALKING ABOUT THE OPPORTUNITIES AVAILABLE IN THE SOTO MARKET AREA, IT CARRIES WEIGHT BECAUSE PEOPLE KNOW THAT YOU'RE BRINGING QUALITY AS A TEAM AND THEY KNOW THAT YOU'RE JUST NOT OUT THERE, UH, TIPPING THROUGH THE TULIPS OR ANYTHING.
BUT YOU'RE, YOU'RE LAYING SOME, SOME HARD WORK THERE.
AND SO REALLY TO BE COMMITTED TO ALL YOU GUYS, I KNOW THAT.
BUT IF YOU CAN'T CONVEY THAT TO HER AS WELL.
WE REALLY, REALLY, AS A BOARD SUPPORT YOU AND THANK YOU VERY MUCH FOR EVERYTHING.
IN THAT SAME VEIN, WE WOULD HOPE THAT THE, THE CITY COUNCIL WOULD, WOULD APPLAUD EFFORTS TOO.
NOW, I DON'T KNOW HOW WE GET THEM TO APPLAUD.
BUT THAT'S AN EFFORT THAT WE WANT THIS 'CAUSE IT, IT IS RECOGNIZABLE AND SOMETIMES PEOPLE DON'T APPLAUD BECAUSE THEY DON'T KNOW TO APPLAUD.
SO WE MIGHT NEED TO SEND 'EM A NOTE AND ASK THEM TO APPLAUD.
WELL, WE SHOULD, WE SHOULD SEND 'EM A NOTE.
YOU KNOW, ATTACH THIS IF WE LIKE THIS RECOGNITION AT, AT A COUNSELING.
BECAUSE THE COMMUNITY NEEDS TO KNOW THE VALUE TO IT.
AND THEN I'M GONNA SAY, AND I KNOW MAYBE I BEAT ME UP IF I NOT SUPPOSED TO SAY IT, I'M WRONG, BUT I SAID IN MY CORRESPONDENCE, I THINK IT ACTUALLY CALLS FOR A LUNCH FOR SOME BREAKS AT LUNCH.
[00:50:01]
OKAY.THAT'S WHAT I, I THINK IT CALLS FOR.
AND I'D LIKE TO WELL, YOU HAVE TO TALK TO HER ABOUT THAT.
I'LL TAKE THAT, THAT ONE UP LATER.
IS THIS WHERE THE, IS THIS WHERE THE JUDGE SAYS TO THE JURY? IGNORE, IGNORE THAT REMARK.
APPRECIATE VERY MUCH APPRECIATE IT.
THAT'S HIGH PRAISE FROM OUR BOARD AND WE APPRECIATE IT.
UM, NO FURTHER DISCUSSIONS ON THAT SUBJECT MATTER.
UM, WE'LL LOOK FORWARD, UH, SOME GLASSES ON SO I CAN SEE HERE.
YOU GOTTA LOVE THESE GLASSES BY THE WAY.
YOU JUST KIND OF POP CALLED CLICKS.
YOU KNOW, I WAS LOOKING UP ON YOUR NECK.
[C. CONSENT AGENDA]
SO, UH, MOVING FORWARD, UH, TO THE CONSENT AGENDA.UH, HAS EVERYONE HAD AN OPPORTUNITY TO, UH, REVIEW THE AGENDA AND IF SO, YES, I'LL ENTERTAIN A MOTION, UH, TO, UH, APPROVE THE CONSENT AGENDA CONSIDERING APPROVAL FOR THE FEBRUARY 8TH, 2024 REGULAR BOARD MEETING MINUTES AND CONSIDER APPROVAL APPROVING THE JANUARY FINANCIAL STATEMENTS MOVE MOTION THAT WE ACCEPT THE AGENDA FROM THE MEETING FEBRUARY 8TH, 2024 IN OUR REGULAR MEETING.
CAN I GET A SECOND? ARE YOU ONLY DOING ITEM ONE ON THE CONSENT AGENDA? THE ENTIRE, THE ENTIRE CONSENT AGENDA, YOUR HONOR, THE ENTIRE CONSENT.
I MOVE THAT WE CAN ACCEPT THAT ENTIRE OKAY.
AND SECOND, UH, TO APPROVE THE ENTIRE CONSENT AGENDA AS STATED, UH, APPROVING THE FEBRUARY, 2024, UH, BOARD MEETING MINUTES AND CONSIDERING APPROVAL OF THE JANUARY FINANCIAL STATEMENTS.
AYES HAVE IT AND HAS BEEN APPROVED.
LET'S GO FORWARD AS WE PROCEED.
[D. BRIEFING BY CHIEF EXECUTIVE OFFICER — Matt Carlson]
WE'RE NOW AT THE BRIEFING BY CHIEF EXECUTIVE OFFICER MATT CARLSON, UH, TO GIVE A BRIEF UPDATE ON THE MEETINGS, ATTENDED INDUSTRIAL SITE VISITS IN GENERAL OFFICE OPERATIONS.UM, BEHIND TAB D, UH, YOU'LL HAVE THE REPORT THAT I PROVIDE EVERY MONTH, UM, AND LAID OUT PRETTY MUCH THE SAME WAY.
UM, REMEMBER THE TOP IS OUR BUSINESS PLAN GOALS FROM THE, FROM THE COUNCIL.
UM, AS IT RELATES TO THE STRATEGIC PLAN.
UM, WE HAVE ACCOMPLISHED VIRTUALLY EVERYTHING, UM, ON THOSE UP IN THOSE GOALS.
UM, AND ACTUALLY DONE SOME EXTRA PIECES.
I THINK THE, UH, UH, THE FARMER'S MARKET, WHICH WAS ALSO PART OF THE STRATEGIC PLAN, BUT WAS NOT PART OF THIS YEAR'S BUSINESS PLAN GOALS.
THE ONLY PIECE THAT'S STILL OUTSTANDING, AND IT'S, AND IT'S REALLY WAITING ON SOME DISCUSSIONS AROUND THE HAMPTON ROAD CORRIDOR PROJECTS, UM, IS WHETHER OR NOT WE'RE GONNA DEVELOP AN RFP FOR CITY OWNED PARCELS AND THEN TAKE THAT TO THE MARKET.
UM, WE'RE CURRENTLY HAVING DISCUSSIONS AROUND SINGLE SOURCE WITH THAT.
UM, IF WITH, IF FAILING, FAILING A SINGLE SOURCE DISCUSSION OR AGREEMENT, UM, THEN WE WOULD DEVELOP AN RFP AND TAKE THAT TO THE MARKET AND SEE WHAT KIND OF RESPONSES WE GET.
UM, IT, IT IS A TIME CONSUMING PROCESS.
IT'S NOT ONE THAT I, THAT I CHERISH, BUT SOMETIMES YOU DON'T KNOW WHAT YOU DON'T KNOW.
AND WHEN YOU PUT IT OUT THERE, SOMETIMES YOU GET SOME REALLY INTERESTING IDEAS, UM, THAT MAYBE YOU HAVEN'T THOUGHT ABOUT.
SO I THINK THERE'S VALUE THERE.
UM, I, I THINK THERE'S VALUE IN TERMS OF THE TIME SAVINGS IF WE CAN DO THAT WITH A SINGLE SOURCE.
BUT IF NOT, THEN WE'LL, WE'LL COMPLETE THIS EASILY THIS YEAR.
UM, THE SECOND PIECE THERE YOU SEE WITH GREENS AND YELLOWS AND RED DOTS ARE OUR DEPARTMENTAL GOALS.
UM, WE ARE, WE ARE MEETING OUR DEPARTMENTAL GOALS, UH, IN VIRTUALLY EVERY WAY.
UM, WE TALKED ABOUT NET SALES TAX INCREASES, UH, THAT ARE THREE TIMES WHAT WE PROPOSED.
WE TALKED ABOUT EMPLOYMENT OPPORTUNITY INCREASES BETWEEN SQUARE CABINETS AND REESE AND EASTERN TRADING.
UM, WE'VE ALMOST DOUBLED THAT, THAT GOAL AS WELL.
UM, WE MAY HAVE TO RETHINK HOW WE SET OUR GOALS.
UM, BUT I DO LIKE ACHIEVING THOUGH I DO LIKE PUTTING CHECK MARKS NEXT TO THINGS.
UM, WE DO NEED TO CONTINUE TO, TO EXPAND OUR OUTREACH TO CHAMBERS OF, TO OTHER CHAMBERS OF COMMERCE REPRESENTING ALTERNATIVE AND ETHNIC POPULATIONS.
AND, AND REALLY THIS LAST ONE WHERE I PUT A RED DOT, UM, IS, IS THE WHOLE IDEA OF US MEETING WITH PLANNING AND ZONING AND OURSELVES AND CITY COUNCIL AND THE STAFFS THAT REPORT IN THOSE VARIOUS AREAS TO TRY TO CREATE A MORE FRICTIONLESS DEVELOPMENT EFFORT.
[00:55:01]
WAITING ON THIS ON THE CITY MANAGER AND THE, AND THE MAYOR TO LAY OUT THAT NEXT MEETING.UM, WE'LL START PUSHING ON THAT, UM, ASKING FOR THOSE.
BUT I HAVE NO DOUBT WE'LL SEE THAT COME FROM THE CITY, FROM THE CITY SECRETARY SOON.
UM, BECAUSE I DO THINK THAT THAT WILL REALLY START TO DO A LOT TO MAKE STRIDES TOWARDS MEETING THIS.
UM, WE'LL KNOW BY THE END OF THE YEAR, WHETHER WE MET IT OR NOT, I DON'T THINK IT'S WITHIN OUR OWN WITH, WITH WITHIN OUR OWN ABILITIES TO DECIDE WHETHER WE MEET IT OR NOT.
WE'RE SUBJECT TO OTHERS OF WE NEED TO BE AT THE TABLE.
AND WE CERTAINLY ARE SO, SO MAD ME.
JUST KINDA CHIME IN, IF I MAY PLEASE.
SO IMPROVE FRICTION, FRICTIONLESS DEVELOPMENT EFFORTS WITH OTHER DEPARTMENTS, OTHER DISCIPLINES EXTERNALLY.
IE THE CHAMBER, FOR EXAMPLE, THERE WAS A MAJOR EVENT THAT OCCURRED A COUPLE WEEKS AGO AND, UM, I DON'T THINK WE WERE PRIVY TO THAT.
LOWERING BARRIERS, IF YOU WILL.
AND, UH, WHEN THE, THE CHAIRMAN WAS RECOGNIZED, IT WOULD'VE BEEN NICE FOR US.
SOMEONE FROM THE BOARD WAS THERE, UH, WAS ONE PERSON.
BUT TO KNOW THOSE TYPE OF THINGS ALLOWS US TO SUPPORT THE COLLABORATIVE EFFORT OF EVERYONE COULDN'T AGREE MORE.
SO WE COULD, UH, THAT'S A COMMUNICATION OPPORTUNITY FOR US IF WELL, SO WELL, YES AND NO.
IT'S A COMMUNICATION OPPORTUNITY IF WE KNOW THE INFORMATION WELL,
WE CAN'T COMMUNI, WE, WE REALLY DO TRY TO KEEP YOU INFORMED OF THINGS THAT ARE COMING, COMING DOWN THE PIPE.
UM, IF, IF WE, WE CAN'T COMMUNICATE WHAT WE DON'T KNOW RESPECTFULLY.
SO YEAH, THAT WASN'T MY INTENT TO SAY THAT YOU GUYS ATE.
MY INTENT WAS MORE SO ALONG THE LINES OF HOW DO WE GET THE FLOW OF INFORMATION.
SO THERE'S A TWO WAY STREET HERE.
THERE'S JUST A GOOD, GOOD, UH, I CALL PROFESSIONAL COURTESY THAT WE SHOULD ADHERE TO.
YOU KNOW, WE, WE SIT ON THE BOARD OF THE CHAMBER.
UM, YOU KNOW, WE HAVE QUARTERLY MEETINGS WITH OUR SHAREHOLDERS, ISD THE CHAMBER AND OTHERS.
UM, IDEALLY WE'RE EXCHANGING THOSE IDEAS.
UM, IT JUST DOESN'T ALWAYS HAPPEN.
AND UNFORTUNATELY, UM, WE GET OFTEN ASKED, WHY DON'T, WHY DON'T YOU TELL US WHEN A BUSINESS IS OPENING? AND THE ANSWER IS BECAUSE WE DON'T KNOW.
THEY DON'T TELL US THERE'S NO, WITHOUT A BUSINESS LICENSE.
THERE REALLY IS NO WAY FOR US TO KNOW WHEN A BUSINESS IS GOING TO OPEN ITS DOORS.
EVEN THE CERTIFICATE OF OCCUPANCY ISN'T, ISN'T A GREAT CLUE.
'CAUSE THAT MIGHT BE IN, IN PLACE FOR MONTHS BEFORE THEY ACTUALLY OPEN THEIR DOORS.
OR IN SOME CASE, THEY OPEN THEIR DOORS BEFORE THEY EVEN BOTHER TO GET IT.
THEN WE HAVE SOME OTHER ISSUES.
BUT
UM, 'CAUSE WE KNOW WHO IS IN BUSINESS AND WE HAVE GOOD CONTACT INFORMATION.
THERE'S REALLY NOT A GREAT WAY TO GET THAT.
UM, I WON'T GO INTO THOSE 'CAUSE IT'S REALLY NOT MEANINGFUL UNTIL YOU GET FULL SETS OF DATA.
UM, BUT, BUT THAT'S NOT, THAT'S NOT A, A TOPIC THAT, THAT IS, IS OPEN FOR DISCUSSION.
SO, SO, SO THE BUSINESS, UH, THE CITY IS NOT INTERESTED IN US DOING SOME KIND OF BUSINESS LICENSE.
WELL, WE DON'T HAVE THE AUTHORITY TO DO A BUSINESS LICENSE.
WHO, WHO WOULD'VE THE AUTHORITY CITY.
SO WE, SO WE CAN'T NO, I'M SAYING, SO HAVE, HAS, DOES THE CITY HAVE ANY INTEREST? NO.
WHY NOT? I CAN'T ANSWER THAT QUESTION.
SO, COULD THE CHAMBER, COULD THE CHAMBER GET BUSINESS LICENSE? NO.
SO ONLY IT HAS TO BE UNDER THE CITY'S CHARTER.
WELL, IT, THE CITY DOESN'T HAVE A CHARTER TO DO THAT.
I MEAN, THE CITY CAN DO LOTS OF THINGS WITHOUT IT BEING IN THE CHARTER, BUT THE CHAMBER HAS NO AUTHORITY TO TELL.
THE BUSINESS STAFF HAVE TO HAVE A LEXUS.
SO THE CITY COULD IMPLO THAT KIND OF ASK.
IS THERE, IS IT POSSIBLE FROM OUR BOARD THAT WE WRITE UP, CREATE, DEVELOP WHY WE THINK AS A BODY THAT IT MAKES SENSE SURE.
AND SUBMIT IT TO THE CITY? YES.
THAT'S A PRETTY, THAT'S A PRETTY EASY DEAL.
I'LL JUST PULL IT OFF THE DESKTOP.
WELL, I, I'M SAYING TO YOUR POINT MARK, I MEAN, THAT'LL BE SOMETHING TO BRING UP IN THE NEXT JOINT MEETING IF POSSIBLE.
AND THAT'D BE ACTUALLY A REALLY GOOD POINT.
[01:00:02]
IT'S A GREAT INCENTIVE IN OUR DECK.FOR A LOT OF THOSE MOM WE WON'T KNOW IN BUSINESS WHO NOW SIGNED UP THE CHAMBER, WHO ARE NOW PART OF OUR DECK PROGRAM THAT WE'RE PART OF.
IT IS SOMETHING I'VE ADDRESSED SEVERAL TIMES SINCE I GOT HERE.
HAS THERE NEVER BEEN A TIME? THAT'S THE REASON I SAY I CAN LITERALLY PULL IT OFF MY DESKTOP.
UH, FELICIA QUESTION, HAS THERE EVER BEEN A TIME WHERE THE CITY'S REQUIRED BUSINESSES THAT OPEN HERE HAD TO GET A BUSINESS LICENSE? THIS, I DON'T KNOW THE ANSWER TO THAT.
I MEAN, PERMIT WE DON'T GET BUSINESS LICENSE DOESN'T HAVE TO BE A YEAH.
IT IS NOT BASED ON MONETARY, IT'S BASED ON INFORMATION.
LIKE, I MEAN, YOU NEED SOME WAY TO ENFORCE IT.
AND, AND IT'S A GREAT NETWORKING TOOL.
SO, SO NOW THE CITY EVEN KNOW, OR, OR THE, THE COUNCIL AND THE, AND THE, THE LEADERSHIP KNOW WHO'S HERE, RIGHT.
THERE IS CURRENTLY NO REPOSITORY OF EVERY BUSINESS INDUSTRY.
THE CLOSEST YOU HAVE IS IN THE ECONOMIC DEVELOPMENT.
SO I'M, I'M ASKING THE PRESIDENT YES.
IF HE WILL BRING THAT TOWARD, FOR UP TOWARD THIS BODY.
I THINK IT WOULD ALSO BE HELPFUL BECAUSE, UM, ON FACEBOOK, OUR CITIZENS HAVE A LOT THAT THEY, UM, EXPRESS, EXPRESS TO THE CONVERSATION AND EXPRESS.
AND I THINK THAT WOULD HELP THEM HAVE AN UNDERSTANDING OF WHAT'S HERE.
BECAUSE SOMETIMES YOU HEAR A VOCALIZATION ABOUT BUSINESSES THAT ACTUALLY ALREADY EXIST IN THE CITY.
UM, AND THEN YOU HEAR, YOU KNOW, THE SAME THING ABOUT BUSINESSES THAT THEY WOULD LIKE TO COME.
AND SOMETIMES THOSE THINGS ARE KIND OF LIKE, YOU KNOW, ON THEIR WAY AND THEY JUST SIMPLY DON'T KNOW.
SO I DO THINK THIS LICENSING, UM, INITIATIVE COULD HELP THE CITIZENS BE MORE EDUCATED AND INFORMED ABOUT WHAT'S HERE OR WHAT'S COMING.
AND A GREAT TOOL OF BEING A BUSINESS DIRECTORY.
WE'VE GONE AS FAR AS AS WE GOTTA GO FIND STUFF.
I MEAN, WE'VE DONE A, A YEOMAN'S JOB.
WE, RHONDA HAS DONE A YEOMAN'S JOB OF SCOURING DATABASES AND THE LIKE, TO, TO IDENTIFY WHAT WE KNOW IS A, A FAIRLY COMPLETE SET.
BUT, AND LET THE, THE, THE BEST SOURCE IS THE COMMERCIAL WATER LICENSES OR THE WATER PERMITS IN OUR UTILITIES.
AND THAT'S ONLY IF THEY HAVE A COMMERCIAL LICENSE.
BUT IF YOU'RE OPERATING FROM YOUR HOUSE OR YOU'RE OPERATING FROM THE BASEMENT OR ANY NUMBER OF OTHER WAYS AROUND THAT, THERE'S NO COMMERCIAL, THERE'S NO COMMERCIAL PERMIT.
SO WE HAVE TO SPIN IT SO THAT COUNCIL UNDERSTANDS THE VALUE.
WE CAN'T ALLOW THEM TO TAKE IT UPON THEIR OWN INTERPRETATION.
WE GOTTA GIVE THEM THE INTERPRETATION OF WHY THIS IS IMPORTANT AND HOW THE CITIZENS OF THE SOTO ARE MADE BETTER 'CAUSE OF IT.
I MEAN, IT, IT CERTAINLY DOES.
TO YOUR POINT, WE GET ASKED, AND WE HAVE A PRETTY GOOD IDEA OF THE KINDS OF MAKEUP, OF, OF BUSINESSES THAT WE HAVE, YOU KNOW, WHAT, WHAT THAT LOOKS LIKE IN GENERAL, CLOSE ENOUGH FOR ANYTHING THAT WE'RE GONNA NEED IT FOR.
BUT, BUT GETTING MORE SPECIFIC ABOUT THOSE AND BEING ABLE TO OUTREACH TO SMALL COMPANIES IN PARTICULAR THAT WE IN FACT WANT TO OFFER YES.
IN MANY CASES, WE'D HAVE NO IDEA WHO THOSE BUSINESSES ARE.
AND, AND THERE'S NO GREAT WAY TO KNOW WHO THEY ARE OR EVEN THAT THEY EXIST.
WE'RE, WE'RE FULLY SUPPORTIVE OF IT.
I DON'T THINK MAKING A SERIES OF VALUE STATEMENTS AROUND IT IS HARD.
I MEAN, AGAIN, THIS IS NOT A REQUEST THAT WE HAVEN'T MADE.
BUT THAT'S WHY I'M SAYING IT, IT NEEDS TO BE A FORMAL MM-HMM.
AND, AND ALSO, LIKE, I, I WOULD BE CURIOUS TO KNOW THE REST, THE OTHER CITIES THAT ARE PART OF THE BEST OF THE SOUTHWEST, LIKE CITY HILL REQUIRE.
I, IN ALL HONESTY, I'M NOT SURE I CARE, BECAUSE IF WE DO IT, THEN WE'RE THE LEAD DO IT.
I SAY WHETHER WE'RE LEADING OR FOLLOWING,
[01:05:01]
IF WE SEE A VALUE TO IT, WE SEE A NEED.DOES IT REALLY MATTER WHETHER CEDAR HILL DOES OR NOT? WELL, I'M PROCESS AND HOW, HOW THEY'RE DOING IT.
SO YOU'RE START SCRATCH, IF THEY ALREADY HAVE SOMETHING IN PLACE, IT'S LIKE, OH, OKAY, WELL, COOL.
WE CAN LIKELY MODEL IT OR LEARN VERY POSSIBLE.
TAKE AWAY FROM, I MEAN, IT'S AN EASY OUTREACH TO OPAL AND TO GREG AND CITY MANAGERS IN THOSE, IN THOSE COMMUNITIES TO KNOW VERY, VERY EASILY.
AND WE'RE NOT TRYING TO LAYER YOU OUT WITH MORE STUFF TO DO.
I JUST THINK THAT, NO, IT'S NOT A HEAVY LIFT.
BUT I'VE ASKED, I MEAN, I'VE TALKED TO ANTOINE SEVERAL TIMES WHERE I'M LIKE, IS THERE A DIRECTOR OF THE NONPROFITS IN THIS COMMUNITY? OR, YOU KNOW, AND IT'S LIKE, NO.
THEN EVEN WHEN THE LIST BY WAY OF, UM, THE LEADERSHIP SOUTHWEST AND THEIR LISTING OF WHAT WAS SUPPOSED TO BE NONPROFITS AND ALL OF THE, UM, THE COMMUNITIES, MOST OF THEM, I MEAN, IT WAS INACCURATE INFORMATION.
SO I, I MEAN, IN GENERAL, FOR ALL THE REASONS WHY IT'S IMPORTANT, I MEAN, IT'S, IT'S, IT'S TIED TO A VARIETY OF DIFFERENT QUESTIONS, UM, AND USES, UM, FOR A VARIETY OF STAKEHOLDERS IN THE COMMUNITY, UH, AND, AND EVEN EXTERNAL THE COMMUNITY.
SO I DON'T SEE ANY REASON WHY IT SHOULDN'T EXIST OR WHAT THE CASE WOULD BE FOR IT NOT TO OUTSIDE OF, UM, YOU KNOW, ADDITIONAL, YOU KNOW, SYSTEMS AND PROCESSES, UM, FOR STAFF AND, OR HOWEVER THAT LOOKS, BUT YEAH.
BUT IT'S REALLY VALUABLE AND REALLY IMPORTANT.
WE'LL BRING IT FOR YOU FOR YOU NEXT MONTH.
WE'LL BRING A, A DRAFT FOR YOU.
YOU KNOW, THIS VERY WELL COULD BE ONE OF THE KEY SUBJECT MATTERS WITH THE COLLABORATIVE EFFORT THAT WE'RE TALKING ABOUT.
SO, I MEAN, IT COULD BE'S POINT A GREAT, IT'S A GREAT TOPIC FOR THE, FOR THE DISCUSSION AMONGST OUR JOINT MEETING.
UM, ACTIVITY UPDATES, UH, ARE ON THE NEXT PAGE.
AND I WON'T BORE YOU IN IN DEPTH WITH THEM.
YOU CAN READ, UM, COMPREHENSIVE PLAN WAS APPROVED, THOUGH THE DEBT CONTRACT HAS BEEN APPROVED.
OUR FRANCHISE EFFORTS ARE UPCOMING ON APRIL 4TH.
UH, WE'LL, WE'LL RECAP THE FARMER'S MARKET NEXT WEEK, UH, AT THE, UH, STUDY SESSION.
UM, A NUMBER OF BUSINESSES THAT ARE OPEN.
WE'VE TALKED ABOUT MOST OF THESE, ALTHOUGH THE NEWEST ONE, UH, THAT THAT'S OPENED THIS LAST WEEK.
WE ROCKED THE SPECTRUM, A CHILDCARE FACILITY FOR, UM, INDIVIDUALS WITH CHILDREN, UH, ON THE SPECTRUM.
UM, BOY, YOU TALK ABOUT PASSION OF THE OWNER.
THERE'S, I'VE, I'VE TALKED TO HER ON SEVERAL OCCASIONS.
THERE'S NO, THERE'S NO LACK OF PASSION THERE.
UM, ANTOINE, YOU WANNA TALK A LITTLE BIT ABOUT OUTBOUND AND, AND, UH, REGIONAL ENGAGEMENT? ABSOLUTELY.
UH, GREAT AMOUNT OF ACTIVITY AS WE ARE IN THE SECOND ABOUT TO WRAP UP THE SECOND QUARTER OF OUR FISCAL YEAR HERE AT THE END OF MARCH.
UM, BUT WANT TO JUST KIND OF UP TO DATE, DATE YOU GUYS ON SOME OF THE THINGS WE'VE ATTENDED.
WHAT'S ON OUR RADAR IN THE NEXT FEW MONTHS? UM, ICSC, RED RIVER WAS BACK IN JANUARY, UH, END OF JANUARY.
BIG RETAIL SHOW OVER THERE AT KAY BAILEY, HUTCHINSON, UH, MATT AND MELVILLE TAG TEAM OVER THERE, I HAD FOR WISDOM TEETH POOL, SO I CAN ATTEND THAT.
UH, BUT THEY MADE GREAT, GREAT ACTIVITY WITH THEIR 28 CONTACTS OVER THERE.
WAS ACTUALLY REACHING OUT TO A FEW OF THOSE WHO HAVE INTEREST IN COMING TO OUR FRANCHISE MEETING THERE NEXT MONTH.
UH, SITE SELECTED CONFERENCE OUT IN NEW ORLEANS, TALKING TO SOME MAJOR SITE SELECTORS, UH, FOCUSING ON OUR BIOTECH INITIATIVES.
UM, AND REALLY, YOU KNOW, BIOTECH, WE GOT THREE BIG THINGS, UH, FOCUSED ON BIOTECH BETWEEN NOW AND JUNE.
WE HAVE THE BIOLIFE, UH, OUTBOUND AT THE END OF, UH, MARCH.
WE'LL BE GOING OUT TO THE BAY AREA, SAN FRAN, SAN JOSE, UH, TOUCHING BASE WITH ABOUT 10 TO 12 COMPANIES FOR RECRUITMENT PURPOSES, PUTTING TEXAS ON THE RADAR.
MOST IMPORTANTLY, DESOTO, WHAT WE'RE WORKING ON.
AND WE'LL, UH, TOUCH ON THIS THIS EVENING.
UH, ALSO TEXAS LIFE SCIENCE SUMMIT GOING DOWN IN AUSTIN.
UH, BIG CONVENING OF ALL THE MAJOR PLAYERS IN THE, UH, BIOTECH ECOSYSTEM HERE IN TEXAS.
UH, HEADED DOWN THERE, I'LL BE AT A AVIATION SHOW IN, UH, CHICAGO WITH TEAM TEXAS.
MRO UH, WENT LAST YEAR, AS YOU GUYS KNOW, WE'RE WORKING TO UPAND A, UH, A MP PROGRAM WITH DALLAS COLLEGE, AIR AIRFRAME POWER PLANT, UH, SOLAR TURBINES.
REALLY, REALLY, REALLY RELY ON THIS PARTICULAR CERTIFICATION.
SO REALLY WANTED TO LEAN INTO THOSE, UH, TRAINING OPPORTUNITIES, WORKFORCE DEVELOPMENT AS RELATES TO OUR, UH, HIGH SCHOOL, OUR DALLAS COLLEGE, AND, AND, UH, JUST, JUST, JUST FOLKS WITHIN OUR, OUR, OUR EMPLOYMENT CATCHMENT THERE.
UH, ICSC RECON WILL BE IN VEGAS, AGAIN, THE BIG RETAIL SHOW.
UH, WE'LL BE OUT THERE FOR ANOTHER 48 HOURS.
LAST YEAR WE HAD 46 MEETINGS AND 48 HOURS.
UM, DUNNO IF WE'RE TRYING TO EXCEED THAT OR, YOU KNOW, LET'S KEEP IT AS IS.
BUT A LOT OF, A LOT OF GREAT, UH, TOUCH POINTS WITH THESE RETAILERS AND DEVELOPERS WHO NOW HAVE TO SOTO ON THEIR RADAR.
SO WE JUST WANNA STAY IN, STAY IN TOUCH WITH THEM, UH, HOPEFUL THAT FROM OUR SPRING FRANCHISE INTEREST MEETING, THAT WE'LL HAVE PEOPLE TO BRING THEM AS FAR AS FRANCHISEES THAT MIGHT BE INTERESTED IN SOME OF THOSE BRANDS THAT WE TALKED TO.
SO AS WE, YOU KNOW, MEET WITH THEM IN MAY, WE'LL HAVE HOPEFULLY A LIST OF 20, 30 PEOPLE FOR THEM TO PICK AND CHOOSE FROM UP DESOTO RESIDENTS.
UH, THE BIO CONFERENCE OUT THERE IN SAN DIEGO, FIRST WEEK IN JUNE, A GREAT COLLECTIVE WITH, UH, THE DALLAS REGIONAL CHAMBER,
[01:10:01]
THE GOVERNOR'S OFFICE, BIO NORTH TEXAS, UH, STATEWIDE EFFORT TO REALLY RECRUIT FOLKS TO TEXAS.GREAT OPPORTUNITY TO GET THEM AWAY FROM THE COAST.
UM, SO AGAIN, VERY, VERY HAPPY TO BE OUT THERE AGAIN.
THEN WE'LL WRAP UP JUNE OUT THERE IN DC UH, AT THE SELECT USA SUMMIT IS ACTUALLY FOCUSED MORE ON FOREIGN DIRECT INVESTMENTS.
SO THINK ABOUT, UH, EUROPEAN INTERNATIONAL COMPANIES LOOKING TO INVEST IN UNITED STATES.
UH, WE'LL BE OUT THERE WITH THE DELEGATION FROM TEAM TEXAS.
UH, VERY, VERY, VERY INTERESTING TIME TALKING TO FOLKS FROM ALL OVER THE WORLD, TRULY, THAT HAVE INTEREST IN, IN, IN, IN, IN, UH, IN TEXAS, UH, SOME OTHER REGIONAL EVENTS WE HAVE.
GOING ON THAT NEXT BULLET POINT, AGAIN, THE WINTER CONFERENCE.
GOT THE ECONOMIC EXCELLENCE AWARD.
SHOUT OUT TO THE STAFF THERE, THERE IS A WORKFORCE DEVELOPMENT AWARD THAT WE'RE CONSIDERING.
I THINK WE'RE GONNA WAIT TILL NEXT YEAR.
BUT, UM, CDC AND OUR ENGAGEMENT, TDC HAS BEEN TREMENDOUS OVER THE LAST YEAR.
LIKE WE ARE A NAMESAKE TO KIND OF THE, THE LEADERS THERE.
WE ARE GLAD TO BE IN THE BUILDING EVERY TIME THERE'S AN OPPORTUNITY OR A CONFERENCE THERE.
UM, QUARTERLY HR, QUARTERLY HR ROUNDTABLE AS YOU TALK ABOUT WORKFORCE DEVELOPMENT.
AND OUR BUSINESS PART, OUR MAJOR EMPLOYERS.
WE HAD ABOUT 14 FOLKS COME OUT TO THAT.
I APPRECIATE YOU MARK JONES FOR, FOR COMING OUT TO OUR INITIAL ONE.
WE BASICALLY TRIPLED IN SIZE SINCE THAT INITIAL EVENT.
SO GREAT, GREAT AMOUNT OF FOLKS TO COME OUT.
UH, WE HAVE THE FOLKS FROM, UH, TEXAS WORKFORCE COMMISSION THERE TO TALK THROUGH THEIR RESOURCES AND SOLUTIONS.
THERE'S SOME, UH, ONE-ON-ONE OPPORTUNITIES, YOU KNOW, FOR JOB FAIRS, UH, SPECIFIC SKILL TRAINING OPPORTUNITIES AS WELL.
SO REALLY, REALLY LOOKING FORWARD TO THE NEXT ONE.
IT'LL BE, UH, ACTUALLY IN JUNE, OUR NEXT QUARTERLY HR ROUND TABLE.
UH, SOME PANELS THAT ME AND MATT HAVE BEEN ON THE LAST FEW MONTHS.
UH, A REP, AFRICAN AMERICAN REAL ESTATE PROFESSIONALS, THEY HAD A BREAKFAST LAST MONTH.
UH, WE'RE REALLY ABLE TO SHOWCASE WHAT WE'RE DOING HERE IN DESOTO, THE PROJECTS GETTING US ON THE RADAR.
MATT WAS OVER THERE WITH, UH, GREATER DALLAS PLANNING COUNCIL, UH, REALLY HIGHLIGHTING, YOU KNOW, WHAT'S GOING ON IN SOUTHERN DALLAS.
OUR, UH, BOARD MEMBER WHO'S NOT HERE, LATASHA, SHE WAS THERE SHARING THE STAGE WITH MATT AS WELL.
TALKING ABOUT GREAT OPPORTUNITY OF ECONOMIC DEVELOPMENT TO WHERE WE'RE NOT JUST LOGISTICS AND DISTRIBUTION OUT HERE.
THERE'S SOME GREAT TALENT THAT NEEDS TO BE EXPOSED AND HIGHLIGHTED.
SO BARE RAIL RECEIVED FROM FOLKS WHO TYPICALLY DON'T COME ON THIS SIDE OF 30.
UM, A FEW OTHER THINGS WANNA PUT ON YOUR RADAR, THE DATE NETWORK.
THEY WILL HAVE THEIR GRAND OPENING ON THE 11TH.
IT'LL ACTUALLY BE IN THE NOON, UH, FROM 12 TO ONE, OR 12 TO ONE 30.
SO IF YOU WANNA GO OVER THERE, CHECK THAT OUT.
WE CAN GET YOU GUYS SOME REGISTRATION INFORMATION IF YOU DON'T, DO NOT HAVE THAT ALREADY.
BEST SOUTHWEST RED SUMMIT, REGIONAL ECONOMIC DEVELOPMENT SUMMIT.
EACH YEAR, THE FOLKS IN THE BEST SOUTHWEST ARE ECONOMIC DEVELOPMENT TEAMS. GET TOGETHER AND HIGHLIGHT A COUPLE PROJECTS, UM, THAT FOLKS IN THE REGION SHOULD KNOW ABOUT.
UH, SO WE'LL BE HIGHLIGHTING A COUPLE PROJECTS AT THAT EVENT.
WE'LL HAVE A TABLE FOR YOU, MEL.
WE'LL BE GETTING OUT SOME INFORMATION FOR THAT AS WELL.
IT'S OVER AT THE LIBRARY IN CEDAR HILL.
ON THE 25TH IN THE AFTERNOON, IF I'M NOT MISTAKEN.
AGAIN, WORKFORCE DEVELOPMENT FOCUS.
WE'LL, WE'VE, UH, CONNECTED WITH FOLKS AT THE HIGH SCHOOL.
THEY'RE HOSTING THE JOB HERE ON THE, ON THE 2ND OF MAY.
AND THEN WE'RE HAVING THE DESOTO WORLDS JOB FAIR OVER AT DC THREE ON THE 22ND.
UM, WE'RE ACTUALLY BE COMING BACK FROM THE ICSE TRIP THAT TUESDAY, GOING RIGHT TO THE JOB FAIR ON THAT WEDNESDAY.
AND THEN, UM, ECONOMIC DEVELOPMENT FEATURES FORM WITH MATT IN EARLY JUNE WITH, UH, OTHER ACTIVITIES.
SO THAT IS THE MOVEMENT AND SHAKING BETWEEN NOW AND JUNE.
I'LL, I'LL SAVE MY BREATH, UH, ANSWER ANY QUESTIONS.
BUT, UH, PRETTY ACTIVE, HONESTLY.
PROBABLY MOVING EVERY OTHER WEEK BETWEEN NOW AND THE END OF JUNE.
SO THAT PANELIST OUR OWN BOARD MEMBER WAS AT, YES.
WELL, YEAH, SHE WAS DEFINITELY, ABSOLUTELY.
I THINK A GREAT, YOU KNOW, TO YOUR POINT, MARK, A GREAT THING ABOUT THESE CONVERSATIONS, YOU'RE BRINGING TOGETHER FOLKS IN THE REAL ESTATE COMMUNITY, FOLKS IN THE DEVELOPMENT COMMUNITY WHO ARE ABLE TO THINK ABOUT THE SOTO DIFFERENTLY THAN I THINK WHAT MOST FOLKS DO.
AND I THINK, YOU KNOW, BEING ABLE TO ELEVATE OUR MESSAGE TO THOSE AUDIENCES REALLY SPEAKS VOLUMES, ESPECIALLY WHEN YOU TALK ABOUT THE PROJECTS THAT WE'RE DOING.
UM, IT'S, IT'S A LOT OF, A LOT OF, OF BUY-IN AND INTEREST TO WHERE, YOU KNOW, WE'RE FILLING UP OUR CALENDAR WITH FOLKS WHO WE MET AT THOSE CONFERENCES AND MEETINGS SAYING, HEY, I HEARD ABOUT THE BIOTECH.
I KNOW X, Y, Z WHO MIGHT BE INTERESTED.
SO GREAT AMOUNT OF TRACTION WITH, WITH THESE, UH, EVENTS WHERE AGAIN, WE WANT A LOT MORE OF THAT THIS YEAR.
SO WHEN, WHEN ARE YOU PULLING OUT TO SAN FRANCISCO? NOT TO THE TODAY, UH, LAST MONTH, LAST WEEK OF THE MONTH.
LAST WEEK OF, UH, MARCH 24TH THROUGH THE 27TH.
AND THEN I HAVE A QUESTION ABOUT THE FRANCHISE EVENT.
SO WHAT IS THE PURPOSE OF THE EVENT? LIKE, IS THERE A PROGRAM? GOTCHA.
WHAT HAPPENS DURING THOSE EVENTS? IT'S VERY MUCH SO INFORMATIONAL.
SO I MEAN, UM, PUTTING THE OPPORTUNITIES OUT IN FRONT OF THE FOLKS HERE IN DESOTO.
SO THIS TIME AROUND, WE'LL BREAK IT INTO THREE SECTIONS.
[01:15:01]
FIRST SECTION, WE'LL KIND OF HIGHLIGHT DESOTO, DESOTO AND OUR DEMOGRAPHICS, WHY THE DEMOGRAPHICS IS SO IMPORTANT, CALL IT THE DESOTO DIFFERENCE.SECOND, WE'LL LOOK AT FRANCHISING 1 0 1.
SO WE HAVE A COUPLE CONSULTANTS, WE'LL BRING BACK SARAH, UH, FROM LAST YEAR.
CARLOS WHITE, OUR PREVIOUS BOARD MEMBER THAT'S, UH, IN, IN THAT SPACE OF ATTORNEY, UH, ATTORNEY IN THAT SPACE.
HE'LL BE SPEAKING ON SOME FUNDAMENTALS THERE.
UH, WE'LL HAVE A FEW FRANCHISEES, CURRENT FRANCHISEES THAT'LL BE SPEAKING ON THEIR EXPERIENCE.
UH, SO SMOOTHIE KING WILL BE IN ATTENDANCE.
UM, THE NEW MARCOS FRANCHISE, MARCOS PIZZA FRANCHISEE.
HE'LL BE THERE AS WELL, UH, WORKING TO GET SOMEBODY ELSE IDENTIFIED.
THEN THE LAST PIECE OF THAT PROGRAM IS ACCESS TO CAPITAL, KIND OF THE BIG, BIG PIECE.
SO WE'LL HAVE WELLS FARGO, AGAIN, FROST BANK AND SBA THIS TIME, TALK ABOUT RESOURCES AVAILABLE, HOW TO GET, YOU KNOW, TOWARD THOSE FRANCHISE FEES.
AND THEN, YOU KNOW, WE'LL OPEN UP FOR Q AND A, YOU KNOW, JUST TALK ABOUT THE PROJECTS.
WE'RE LOOKING AT DEVELOPERS, AREAS OF INTEREST.
UM, AND SO IT'S REALLY, YOU KNOW, VERY INFORMATIONAL.
UM, LAST YEAR WE HAD ABOUT 60 PEOPLE ATTEND THIS YEAR, AS OF TODAY, WE'VE ONLY BEEN DOING OUTREACH FOR THREE WEEKS.
WE HAVE 70 PEOPLE REGISTERED ALREADY.
AND PEOPLE TEND TO BE, WHO ARE INTERESTED IN WANTING TO BE IN BUSINESS.
AND WHAT THEY FIND IS THE EASIEST PATHWAY, TYPICALLY IS TO DO A FRANCHISE.
AND SO THEY, THEY COME, UM, VERY OPTIMISTIC, KIND OF BRIGHT-EYED AND BUSHY TAILED.
AND THEY WANT TO KNOW WHY SHOULD I, WHY SHOULDN'T I? AND WHAT KIND? YEAH, THE CHERRY ON TOP.
WE, WE WANNA HIGHLIGHT, HEY, HERE ARE THE 40, 50 BRANDS THAT WE'VE BEEN IN CONTACT WITH THE LAST YEAR THAT EXPRESS THE SOTO MAKES SENSE, BUT I NEED A FRANCHISEE.
SO WITHIN THAT ROOM OF 60, 70 PEOPLE, WE SHOULD BE ABLE TO FIND SOME OPPORTUNITIES, YOU KNOW, FOR YOU GUYS TO DO SOME DUE DILIGENCE.
AND THEN FROM THERE, YOU KNOW, WANT TO PLUG IN WITH SOME DEVELOPERS.
AND THE LIST WAS REALLY GREAT LAST YEAR BECAUSE YOU DON'T REALLY KNOW WHO WANTS TO COME IF YOU'RE NOT OUT THERE IN THE MARKETPLACE.
BUT THERE ARE A NUMBER OF FRANCHISES THAT SEE DE SOTO IS A VERY VIABLE PLACE TO COME, BUT THEY DON'T SEND THE FRANCHISE.
YOU GOTTA GO TO THEM AND SAY, I WANT A FRANCHISE, AND I'LL COME.
SO, SO THEY, THEY THEY REALLY USING IT TO TRY TO MATCH 'EM UP.
SO WHEN WE TALK ABOUT THIS WHOLE PROGRAM, UM, AND I APPLAUD, UH, THAT DURING THE LAST SEGMENT, THE BUZZ WAS, WAS A REAL BUZZ IN THE ROOM SAYING, I MEAN, WE LOVE THIS.
I MEAN THIS, THIS WAS THE PUBLIC MM-HMM.
WE KNOW THAT WE ARE KIND OF CONSTRAINED WITH SPACE ALLOCATIONS THAT ARE AVAILABLE.
WHERE WILL WE HAVE, WHERE COULD WE, SHOULD SAY IS A BETTER, WHERE, WHERE COULD WE ASCERTAIN SPACE ALLOCATION THAT SAYS, HERE ARE THE TYPICAL TYPE OF LOCATIONS THAT WE HAVE WITHIN OUR GEOGRAPHICAL AREA THAT THESE TYPE OF FRANCHISES COULD APPLY.
SO AS PEOPLE ARE DRIVING AROUND, THEY'RE THINKING, BECAUSE NOW HOW DO WE GIVE THEM ANOTHER, NOT TO SAY THAT, I CAN SAY IT COULD HAPPEN FOR ME, BUT NOW YOU'VE GIVEN ME ANOTHER WINDOW OF SAYING, HERE'S MY, HERE'S A PERSPECTIVE OPPORTUNITY FOR ME.
IS IT HAMPTON, UH, AND, AND, UH, AND PLEASANT ROAD OR HAMPTON AND, AND BELTLINE? OR IS IT YEAH, WESTMORELAND AND, AND BELTLINE.
I THINK THAT WILL HELP TO TAKE IT TO ANOTHER LEVEL.
SO YOU, YOU'VE ALREADY BEEN ON MY PRESENTATION THIS TIME AROUND.
SO WE WE'RE, WE'RE CALLING OUT THE GEOGRAPHY OF WHAT MADE SENSE, THE REAL ESTATE OPPORTUNITIES.
SO I, I KNOW WE GET EXCITED ABOUT HAMPTON ROAD, BUT WE'VE CALLED OUT A NUMEROUS OTHER OPPORTUNITIES.
UM, WE CALLED 'EM OUT IN OUR NODE STUDY BEFORE WE CALLED 'EM OUT IN OUR NEW COMP PLAN.
BUT, YOU KNOW, TO THE COMMERCIAL REAL ESTATE FOCUS OF, AND ONE OF THE KEY POINTS AND THE KEY TAKEAWAYS ALONG WITH THIS MEETING IS WE HAVE TO START THINKING OF MACRO AREAS OF DEVELOPMENT.
WE CAN'T JUST KEEP THINKING, I WANT THIS PARCEL TO BE X AND Y AND Z.
WHAT DOES THAT FIVE ACRE, 10 ACRE PART OF PARCEL TO TURN INTO? SO WE WILL DEFINITELY HIGHLIGHT THOSE OTHER AREAS OF INTEREST.
THIS, AND WE KIND OF RAN OUT OF TIME LAST TIME, SO I DO APOLOGIZE.
AND YOU, YOU'RE STILL GONNA BE RESTRAINED WITH TIME BECAUSE THEY'RE GOING TO ASK AND ASK, YOU GOTTA BE ABLE TO FOLLOW UP SIX TO EIGHT, BUT THE PEOPLE ASK INCREDIBLE QUESTIONS THAT YEAH, IT SIX TO EIGHT, BUT YEAH, IT WAS FULL.
I MEAN, I DON'T KNOW, HAVE YOU INVITED REPRESENTATIVES FROM THE DECK TO BE A PART OF THIS MEETING? WOULD BE THERE.
AND, AND, AND THEN, BECAUSE NOW EVERYBODY'S GONNA BE READY FOR FINANCE.
SO, AND, AND IT WAS SOME GREAT QUESTIONS AROUND FINANCE AND LAST TIME I WANTED US TO ALREADY HAVE THAT DECK PARTNERSHIP APPROVED A LITTLE BIT FURTHER AHEAD OF TIME.
[01:20:01]
SO NOW THAT WE'VE JUST APPROVED IT, THEY'RE GONNA, YOU KNOW, REANNOUNCE, HEY, WE'RE THE DECK, THESE OPPORTUNITIES WE HAVE AVAILABLE.UM, AND THEN I THINK WE EVEN WANT TO HAVE SOME ACTUAL COHORTS FOR THEM.
I THINK WE'VE ALREADY TALKED WITH THEM IN SOME INITIAL CONVERSATIONS.
HEY, CAN WE HAVE A COHORT FOCUS ON FRANCHISING? SO MAYBE IT'S 10 TO 15 PEOPLE THAT COME TO THIS MEETING THAT ARE SUPER SERIOUS.
THEY GOT A SIX WEEK PROGRAM TO GET THROUGH THAT TO START MOVING FORWARD.
SO
AND, AND ANOTHER THING FOR THE FOLKS WHO ARE WATCHING ON FACEBOOK OR WHEREVER, UM, I'D LIKE TO, UH, MAKE THIS COMMENT BECAUSE WE'RE ON FACEBOOK.
WE'RE ON NEXT DOOR TALKING ABOUT ALL THESE BRANDS WE WANT AND NEED AND DESERVE.
THIS IS THE MEETING FOR YOU, RIGHT? IT'S NOT TO BE ON FACEBOOK.
WE PUT THAT INFORMATION RIGHT THERE FOR YOU.
THE BALL IS ON THE T, THE BALL IS IN YOUR COURT.
WE WANT TO HELP YOU TO GET, YOU KNOW, ACROSS THE FINISH LINE SO WE CAN CONTINUE TO GET ON FACEBOOK EVERY TWO WEEKS AND SAY WHAT WE WANT, WHAT WE DON'T WANT, WHAT WE NEED.
YOU GOT 50 BRAINS THAT WANT TO BE HERE IN DESOTO, SO THAT'S NICE.
AND SO GET YOUR BUTT OUT THERE.
SO ANINE, ONE LAST COMPONENT ON THAT.
SO, UH, AT THE END OF THE DAY, AND I I'M TRYING TO RECALL, IN OUR LAST PRESENTATION, YOU PRESENTED THOSE FRANCHISORS THAT WERE, HAD A LEVEL OF INTEREST.
UM, IS IT PRUDENT TO SAY THOSE THAT HAVE SAID, IF YOU FIND THE SPACE, IF YOU FIND THE PLAYERS, WE ARE THERE, DO WE HAVE THOSE ALREADY THAT ARE LIKE REALLY IN THE PIPELINE? IT, IT, IT'S, IT'S MORE SO FIND THE FRANCHISEE FIRST AND THEN THE SPACE.
WE'RE, WE'RE KIND OF CHALLENGED ON SPACE HERE IN DESOTO.
RIGHT? UH, SO I THINK US WORKING TOGETHER AT THE EDC IS UNDERSTANDING THE SPACES THAT WILL BECOME AVAILABLE.
THAT'S THE COMMUNICATION WE'RE GIVING BACK TO THEM TO SAY, HEY, WITHIN TWO YEARS, 18 MONTHS, THIS SITE WILL MAKE SENSE FOR YOU.
BUT FIRST AND FOREMOST, THEY'RE LOOKING FOR THAT FRANCHISEE.
AND, AND MAKE NO MISTAKE, WE DON'T VET THE PEOPLE WHO ARE SAYING, I'M, I, I WANT YOU A FRANCHISEE.
SO IT, IT, IT'S A, IT'S A LITTLE BIT LIKE DATING MM-HMM.
SO
WE'RE NOT THE PROBABLY THE BEST MATCHMAKERS OTHER THAN IDENTIFYING THE POTENTIAL
AND THAT'S REALLY WHAT WE DO, IS WE MAKE, WE MAKE SURE THAT THEY KNOW THERE'S AN OPPORTUNITY AND THERE'S A CHANCE TO TALK.
AND THEN BEYOND THAT, WE WE'RE BACKING OUT OF THAT.
WE'RE NOT TRYING TO IDENTIFY WHERE IT BELONGS, BECAUSE I CAN'T TELL YOU WHERE, UM, THE NEXT PINK PICKLES MM-HMM.
UM, AND, AND IT WOULD BE PRESUMPTUOUS OF US TO SAY, WE, WE KNOW THAT THESE SITES WOULD WORK FOR WHO AND FOR WHAT? I DON'T KNOW.
I DON'T THINK THAT'S WHAT I'M SAYING WHAT I'M SAYING.
NO, I'M JUST SAYING THAT, THAT THERE'S A, THERE'S A LEVEL OF CONVENING.
AND THAT'S REALLY WHERE IT STOPS.
BECAUSE IT'S NOW UP TO THEM TO TAKE THOSE NEXT STEPS OF DECIDING HOW THEY'RE GONNA, I GET THAT.
WHAT I'M SAYING IS THAT THE NAME OF MY COMPANY IS, UH, PURIFIED WATER.
I'M LOOKING FOR CERTAIN, UH, BUSINESS GROWTH IN CERTAIN GEOGRAPHICAL AREAS.
I'VE COMMITTED TO SAY, YOU KNOW WHAT? I REALLY LIKE THE DEMOGRAPHICS OF DESOTO I'M IN.
NOT THAT I'M LOOKING, I'M IN HOW MANY OF THOSE DO WE HAVE? AND I MAY BE GOING DOWN THE WRONG TRAIL, BUT HOW MANY DO WE HAVE THAT SAID THEY'VE DONE THEIR DUE DILIGENCE? YOU'RE PRESENTING SAYING THE THESE ARE LEVELS OF INTEREST HERE.
THESE ARE THE ONES THAT HAVE SAID, YOU KNOW WHAT? I'M IN WHEN EVERYTHING ALIGNS.
I'VE ALREADY MADE MY, UH, MY COMMITMENT TO, I LIKE WHAT I SEE.
IT'S PROBABLY JUST A HANDFUL OF HONESTY THAT RIGHT.
BECAUSE I MEAN, THAT FRANCHISE PROCESS TAKES A LONG TIME.
I MEAN, WE HAD THAT EVENT BACK IN OCTOBER.
SOME OF THESE, UM, DUE DILIGENCE PERIODS TAKE, YOU KNOW, SIX MONTHS TO A YEAR.
SO IT, IT, IT'S, AND THAT'S ON THEIR SIDE.
IT'S LIKE, HEY, I PUT THE BALL.
YOU KNOW, YOU HAVE THE OPPORTUNITY, YOU KNOW, UH, UH, UH, MICHAEL TO HAVE A, A PINK BARRIER ADA, RIGHT? MM-HMM.
SO IT'S ONLY, I SAID PROBABLY ONLY A HANDFUL AT THIS TIME, AND I, I FIGURED WE ONLY BE A HANDFUL.
BUT LET ME, I'M GONNA TOSS OUT A NAME THAT'S A, A REPUTABLE NAME.
THE NAME OF MY COMPANY IS CALLED TRADER JOE'S.
WHERE'S THAT COMPANY THAT NEEDS, YOU KNOW, NEEDS
[01:25:01]
TO SPEAK UP AND SAY, YOU KNOW, WE REALLY, WE LIKE THE DEMOGRAPHICS OF DESOTO USING THEM HYPOTHETICALLY.TO YOUR POINT, ANTOINE, WE HAVE A FEW OF THOSE.
IS IT OKAY TO SAY, THEY'VE ALREADY SAID THEY ARE REALLY, REALLY INTERESTED WHEN THINGS ALIGN PROPERLY.
I MEAN, I THINK THAT'S HAS MERIT AS WELL.
SO YOU'RE SAYING YOU WANT A HIGH LEVEL ENDORSEMENT? IT'S NOT AN ENDORSEMENT, IT'S JUST COMPANIES AS WE'RE PRESENTING FROM A FRANCHISE LEVEL OF INTEREST, WE'RE SAYING THAT HERE'S SOME COMPANIES THAT HAVE ALREADY SAID WHEN THE SPACE PRESENTS ITSELF, WHEN THE PLAYER PRESENTS ITSELF HERE, OR WE'RE ON BOARD, WE LIKE THE DEMOGRAPHICS OF DESOTO.
I MEAN, THAT'S THE NAMES THAT'S ON THAT LIST, BECAUSE I'VE, AND THAT'S MORE THAN A HANDFUL.
I SAY THAT WOULD BE THE NAME ON THAT LIST, THEN PRESENTED.
MY DAUGHTER'S PRETTY, I'M JUST TELLING
SO EVERY GUY THAT, SO AS PART OF THIS, THIS TWO HOUR EVENT, DOES DDC TALK ABOUT, YOU KNOW, INCENTIVES THAT ARE AVAILABLE TO BUSINESSES? THAT RESOURCES? YEAH.
SO THAT'S A PART OF THE DISCUSSION THAT PEOPLE KNOW.
I, I'VE SEEN PRESENTATION FROM LAST.
BECAUSE LIKE I SAID, IT IS PRETTY, IT'S PRETTY THOROUGH, KIND OF COVERING ALL THOSE BASES AND THEN THOSE TWO HOURS, AND THEN HE, HE FOLLOWED UP WITH NAMES, NUMBERS, AND CONTACTS OF THE, OF THE FRANCHISES.
I THOUGHT THE PROGRAM WAS, WAS APRIL 4TH WAS, UM, MAGNANIMOUSLY PRESENTED.
I ALWAYS THINK THAT, WHAT IS IT THAT IS GRASSROOTS, GROUND LEVEL.
PEOPLE SAY, MAN, UH, TRADER JOE'S WANTS TO BE THERE.
YOU GOTTA QUIT SAYING TRADER JOE'S.
I REMEMBER BROADCAST SAYING TRADER JOE'S, TRADER JOE'S IS NOT A FRANCHISE.
A FRANCHISE OPPORTUNITY, JUST USE THAT AS AN EXAMPLE.
ALL I'M TRYING TO SAY IS THAT YOU GOT SOME THAT ARE, ARE READY TO SAY WE'RE MORE INTERESTED IN, WE'RE ON BOARD.
WHERE'S THE PLAYER TO HAVE A, TO HAVE A ROOM OF 70 PEOPLE SORT OF INTEREST BY FRANCHISE AND THAT THAT DOESN'T HAPPEN ACROSS THE COUNTRY ALL.
THAT'S WHY I'M, WE WE'RE TAPPED IN WITH THE FOLKS AT ICSC, UH, INTERNATIONAL FRANCHISE ASSOCIATION.
THEY, THEY'RE PROPONENTS OF DOING THINGS LIKE THESE, YOU KNOW, TRYING TO GET CITIES TO DO STUFF LIKE THIS AND THEY DON'T.
SO, YOU KNOW, ME GOING TO CONFERENCES AND UNDERSTANDING THAT IT'S OKAY, LET'S, LET'S SIT THAT PROGRAM HERE FOR DESOTA BECAUSE THERE'S A CAPTIVE AUDIENCE.
AND AGAIN, WE KEEP TALKING ABOUT THESE THINGS THAT WE WANT TO NEED.
AND GETTING THAT LIST DOWN TO 40 YEAH.
IS, IS A YOUNGMAN WHO MAKE NO MISTAKE.
I'LL, AND I'M GUESSING, I DON'T KNOW THAT I'VE EVER MEASURED IT.
I'LL BET YOU'VE TALKED TO WAY OVER 200 DIFFERENT CONCEPTS.
PRESENTING THE OPPORTUNITY, TALKING THROUGH THE OPPORTUNITY, TALKING THROUGH THE TRADE AREA, TALKING THROUGH THE DEMOGRAPHICS TO, TO IDENTIFY THOSE 40 WHO SAY, FIRST OF ALL, AHA.
AND, AND THEN UNDERSTAND IT ENOUGH TO SAY, YEAH.
IF, IF, AND I MEAN, AND THERE'S ONE WHO'S WE'RE HOPING WILL BE THERE.
THEY'VE TENTATIVELY SAID THEY WOULD, THEIR COMMITMENT TO ME AT ICSC RED RIVER WAS, IF YOU CAN'T FIND A FRANCHISEE, I'LL PROVIDE YOU ONE.
THAT'S HOW GOOD THE DEMOGRAPHICS ARE.
'CAUSE OTHER DEMOGRAPHICS ARE THAT GOOD.
THAT'S WHAT YOU'RE TALKING ABOUT.
SO THAT'S WHAT I'M TALKING ABOUT.
SO THERE ARE OPPORTUNITIES THAT, THAT EXIST.
AND THEY'RE ALL IN DIFFERENT LEVELS OF ANY FRANCHISE WANTS TO GROW.
THE IDEA BEHIND BEING A FRANCHISE, WHETHER OR NOT ZAXBY'S WANTS TO GROW IN DESOTO OR NOT, IS OFTENTIMES DEPENDENT ON WHETHER OR NOT A FRANCHISEE EXISTS.
BUT IN SOME CASES, IF THE DEMOGRAPHICS ARE STRONG ENOUGH, THEY MAY HAVE A CORPORATE STORE.
I MEAN, MEAN THE DEPOSIT THEMSELVES.
THERE'S SOMETHING WE DON'T WANT.
SO WE EXPLORE, WE EXPLORE A NUMBER AND THAT THESE WE'RE JUST TALKING ABOUT RESTAURANTS, FOOD.
THERE ARE, THERE ARE SERVICE INDUSTRIES.
THERE ARE ALL KINDS OF DIFFERENT FRANCHISES.
ANTOINE SPENDS A LOT OF TIME, YOU KNOW, IT'S RED RIVER, IT'S I-C-S-C-M VEGAS, IT'S THE RETAIL LIVE DOWN IN AUSTIN.
THERE ARE AN AWFUL LOT OF OPPORTUNITIES THAT WE SPEND SPEED DATING, IF YOU WILL, WITH THESE VARIOUS, UH, THESE VARIOUS CONCEPTS.
THESE, THESE ARE VERY MUCH SO SPEED DATES, BECAUSE YOU FIGURE OUT PRETTY QUICK WHETHER THERE'S A FIT.
[01:30:01]
I DON'T EVEN NEED TO WASTE MONEY ON A DAY.I MEAN, YOU FIGURE OUT WHETHER OR NOT THAT YOU GET THERE PRETTY QUICK.
EACH ONE OF THESE HAS HAD ITS OWN FLAVOR.
I THINK THE MOST INTERESTING THING FOR ME AT THE LAST ONE WAS CALVIN GOLDEN, PROBABLY THE MOST EXPERIENCED FRANCHISOR WE'VE HAD TALKING MM-HMM.
AND, YOU KNOW, THIS GUY HAS A HUGE AMOUNT OF, OF, OF GUTS AND STAMINA IN HISTORY.
BUT THE CONTRAST BETWEEN WHAT HE BROUGHT AND THE MAYOR STARTING OUT ONE.
THAT'S WHAT, THAT WAS MAGICAL.
SHE WAS TALKING ABOUT HER, HER, HER FRANCHISE AND HOW SHE GOT THERE AND WHAT WAS GOING ON.
SO JUST THAT CONTRAST GAVE A LOT OF BALANCE.
AND, AND PEOPLE ARE LISTENING FOR DIFFERENT THINGS.
THEY'RE IN DIFFERENT PLACES OF THEIR DECISION MAKING PROCESS.
I'D INVITE YOU TO COME AND JOIN US.
IT'S, IT'S A, I, I'D INVITE ANYBODY WHO'S THINKING ABOUT WHETHER OR NOT A FRANCHISE MIGHT BE FOR THEM, THAT'S A HUGE DECISION.
I THINK THERE'S SOMETHING FOR EVERYBODY.
BUT IT MIGHT NOT BE THAT YOU WANT TO FRANCHISE, BUT YOUR SISTER DOES.
NOW I CAN TALK FOR ANOTHER HOUR AND A HALF.
THE, THE SLIDES THAT ARE ON THE SCREEN, UM, ANTOINE TALKED ABOUT THE FACT WE'RE GOING OUT TO THE BAY AREA, UM, AND, AND TALKING TO COMPANIES, UH, ABOUT OUR BIOLIFE SCIENCE CAMPUS OR BIOLIFE SCIENCE, UM, CORE, THE ANTICIPATED TARGETS FOR THAT CORE LOOK LIKE THOSE WHO ARE SEEKING TO GROW FROM THE INCUBATION AND PROOF CONCEPT STAGE.
THAT'S, THAT'S WHERE THEY DO THAT WORK.
NOW THEY'VE GOT MAYBE SOME FUNDING, OR THEY'VE HAD SOME REAL POSITIVE CLINICAL TRIALS.
NOW THEY HAVE TO GROW UP AND BECOME A REAL COMPANY.
AND THAT MEANS THEY HAVE TO START LOOKING FOR SPACE.
AND THEY HAVE TO HIRE PEOPLE AND THEY HAVE TO HAVE AN OFFICE AND A LAB.
AND, AND THAT MIGHT REQUIRE SOME DIFFERENT KINDS OF COMPONENTS.
THAT'S THE SPACE WE'RE LOOKING TO FILL IN OUR LAB AND OFFICE SPACE.
GRADUATE LAB SPACE IS THE MISSING COMPONENT IN THE ECOSYSTEM AS WE UNDERSTAND IT TODAY.
AND THAT'S THE SPACE WE'RE LOOKING TO FILL.
THE REST OF THE CAMPUS IS REALLY SUPPORTING THAT WHOLE CONCEPT OF A PLACE TO LIVE, WORK, PLAY, AGE, ENJOY THE OUTDOORS AND, AND, AND WORK AT THE SAME TIME.
UM, WE HAVE WORKED, UH, WITH A PARTNER, LPA, IT'S AN ARCHITECTURE FIRM.
UM, THEIR PRINCIPAL OFFICES ARE IN, ARE IN SOUTHERN CALIFORNIA.
UM, BUT THEY HAVE A GREAT DESIGN OFFICE OR A GREAT DESIGN STUDIO HERE.
UM, SOME VERY TALENTED INDIVIDUALS.
AND RESIDENT HERE IS THE PERSON IN THEIR COMPANY WHO ACTUALLY DESIGNS URBAN LAB'S, URBAN LAB SPACE.
AND SHE HAS BROUGHT UP A WEALTH OF EXPERIENCE TO THE, TO IT.
IF WE CAN BACK UP TO THE BEGINNING THERE, ANTOINE, THAT WOULD BE AWESOME.
UM, THIS IS A FLIP DECK THAT WE'RE TAKING AS A MARKETING PIECE FOR US TO BE ABLE TO PRESENT THE OPPORTUNITY AND, AND TALK ABOUT IT IN HIGH LEVEL TERMS. OUR GOAL WITH THESE FOLKS IS NOT TO BRING THEM BACK.
OUR GOAL IS TO START CHUMMING THE WATER.
AND IF WE GET THAT DONE AND WE HAVE FOLKS THAT ARE SWIMMING AROUND BEHIND THE BOAT BEHIND US, WHEN WE GET ON THE PLANE BACK HOME, WE'VE DONE OUR JOB.
WE DON'T ANTICIPATE HOOKING 'EM AND FILETING 'EM AND COOKING 'EM.
'CAUSE FRANKLY, WE'RE NOT FAR ENOUGH.
WE DON'T HAVE, WE DON'T HAVE THE PRODUCT EVEN DESIGNED MUCH LESS COMING OUT OF THE GROUND.
THESE COMPANIES WILL BE LOOKING FOR SPACE IN THE, IN THE NEAR TERM, BUT NOT THAT NEAR TERM.
AND THAT'S SPECIFICALLY HOW WE'RE IDENTIFYING THEM.
UM, WE JUST WANTED TO FLIP THROUGH IT 'CAUSE WE THINK IT'S EXCITING.
WE WANTED TO GIVE YOU A QUICK FLAVOR OF WHAT, UM, WHAT WE MEAN WHEN WE COME, WHEN WE GET ON A PLANE.
UM, YOU'VE HELPED US TO IMAGINE.
GP CHALLENGED US TO CREATE AN ETHOS FOR WHAT WE'RE WANTING TO DO WITH THIS SECTION OF, OF OUR COMMUNITY AND WHAT DOES IT WANT TO BE.
AND THEN BACK UP FROM THAT TO FIGURE OUT WHAT THE COMPONENTS ARE.
SO WHAT YOU SEE ARE THE FIRST COUPLE SLIDES, I THINK IS AN EMBODIMENT OF A PORTION OF THAT ETHOS.
IT'S NOT ALL OF IT, BUT WE THINK IT'S A GREAT START.
IMAGINE THESE THINGS COMMUNITY WHERE RESEARCH AND COMMUNITY THRIVE.
DIVERSITY ALLOWS BREAKTHROUGHS IN BIOMEDICAL
[01:35:01]
RESEARCH.IMAGINE A COMMUNITY WHERE WELLNESS IS INTEGRATED INTO OUR DEVELOPMENT PHILOSOPHY.
WHAT IF WE COULD CREATE A PLACE WHERE BLACK FAMILIES LIVE FIVE YEARS LONGER? IMAGINE THOSE THINGS.
I HATE IT WHEN PEOPLE READ TO ME.
AND THEN IT'S PRETTY SMALL, PRETTY QUICK.
BUT A WAY TO CAST THAT VISION TO TALK ABOUT THE VARIOUS COMPONENTS THAT WE SEE.
GO AHEAD AND KEEP ON FLIPPING FORWARD, ANTOINE, ABOUT WHAT'S HAPPENING.
SO IF THAT'S OUR VISION, LET US LAY THE TABLE FOR YOU.
LET US SHOW YOU WHAT THE TABLE LOOKS LIKE.
HERE ARE THE VARIOUS COMPONENTS AROUND THE, AROUND THE REGION.
HERE ARE SOME OF THE FACTS ABOUT THE METROPLEX AS IT RELATES TO BIO AND LIFE SCIENCES.
HERE ARE SOME OF THE UNIVERSITIES AND, AND EDUCATIONAL SYSTEMS. AND THEN THE COMPANIES THAT ARE ALSO PART OF THIS AND PART OF OUR REGION.
I KNOW KELLEY, THIS IS ALL, THIS IS OLD HAT TO YOU.
SOME OF THE PLACES WHERE BIOLIFE SCIENCE IS EMERGING TODAY.
AND YOU CAN SEE KIND OF THEM SCATTERED ABOUT, PART OF OUR VALUE PROPOSITION IS THE FACT THAT PEGASUS PARK, WHICH IS JUST TO THE LEFT OF DALLAS, IS THAT DALLAS, THEY THANK YOU.
ANTOIN AND DESOTO ARE 15 MILES APART.
15 MILES IS ALL THAT SEPARATES US FROM THE NUCLEUS OF BIOLIFE SCIENCE IN THE DALLAS-FORT WORTH AREA.
FURTHER THAN THAT, MCKINNEY'S IS THREE TIMES THAT DISTANCE.
RICHARDSON IS TWICE THAT DISTANCE.
WE THINK THAT A CRUCIAL PART OF OUR VALUE PROPOSITION IS THE FACT THAT WE ARE SO CLOSE THAT YOU CAN'T ARGUE WITH THIS IS A GREAT PLACE TO BE HAVING TO GO AND WORK.
WE'RE GONNA TALK A LITTLE BIT MORE ABOUT THE ASSETS THAT COME WITH THAT.
IT'S ONE OF THREE LOCATIONS IN THE COUNTRY WHERE THERE'S A HOST HUB FOR ARPA H THE THE POLICY PORTION OF THIS IS IN WASHINGTON.
THE FINANCE PORTION OF ARPA H IS IN CAMBRIDGE.
THAT'S WHERE THE INVESTMENT FIRMS ARE.
THE A PORTION OF AR PH, WHICH WILL FLIP BACK THE PORTION OF ARPA H THAT IS HERE IS CUSTOMER SERVICE, CLINICAL OUTCOMES.
AND DALLAS WAS CHOSEN SPECIFICALLY, NOT JUST TEXAS, BUT DALLAS BECAUSE WE HAVE SUCH A DIVERSITY OF POPULATIONS TO WORK WITH.
HOW DO WE CHANGE THE FUTURE OF THE WAY WE MEASURE OUTCOMES IN HEALTHCARE? WELL, WE START DOING IT DIFFERENTLY THAN WE HAVE IN THE PAST.
WE START MEASURING INTO DIVERSE, INTO DIVERSE PATIENT POPULATIONS, TESTING OUTCOMES, AND TRACKING THOSE TO GET US TO THE BEST, THE BEST POSSIBLE OUTCOMES FOR ALL PEOPLE.
SIGNIFICANT INVESTMENTS HAPPENING ALREADY.
YOU SAW THE NUMBER OF COMPANIES, THIS IS ONE OF THOSE THINGS THAT PEOPLE DON'T REALLY BELIEVE IT'S HAPPENING.
'CAUSE EVERYBODY KNOWS CALIFORNIA, NORTHERN CALIFORNIA, SOUTHERN CALIFORNIA, NORTH COUNTY, SAN DIEGO, CAMBRIDGE, BOSTON.
THAT'S WHERE BIO LIFE SCIENCE HAPPENS.
MAYBE, MAYBE EVEN NORTH CAROLINA, BUT TEXAS.
'CAUSE THAT'S WHERE TEXAS HEALTH SYSTEM IS.
THAT'S KIND OF THE WAY IT'S ALWAYS BEEN THOUGHT OF LAST YEAR WHEN IN JUNE WHEN WE WERE OUT AT BIO IN BOSTON, IT WAS FUN TO HAVE THE, THE MASS PEOPLE, THE MASSACHUSETTS FOLKS TELL US, WE'VE NEVER THOUGHT OF YOU AS A COMPETITOR BEFORE UNTIL TODAY.
WE KNOW WE'RE DOING SOMETHING RIGHT.
WE TALK ABOUT, WE TALK ABOUT OUR DEMOGRAPHICS.
WE TALK ABOUT THE, THE MAKEUP OF OUR COMMUNITY, THE MAKEUP OF OUR WORKFORCE.
WE TALK ABOUT THE PROJECTS THAT ARE IN DE SOTO UP THE TOP, THE INNOVATION CORRIDOR OFF TO THE RIGHT.
OUR EAGLE BUSINESS PARK, WHICH HAS REALLY UNLIMITED OPPORTUNITIES FOR BIOMANUFACTURING.
UM, WE CAN RETROFIT INTO OLD BUILDINGS.
UM, THESE ARE GREAT OPPORTUNITIES FOR US.
BUT WE ALSO TALK ABOUT THE OTHER MAJOR PROJECTS.
UM, AND THEN YOU SEE THE HAMPTON, THE THE ROY OR TRAIL CONNECTING THIS FROM NORTHWEST TO SOUTHEAST.
WE THINK THAT'S A REALLY, THAT'S A, THAT'S A REALLY GREAT PART OF THE VALUE PROPOSITION IS YOU CAN LIVE IN THIS COMMUNITY AND ENJOY THE OUTDOORS MORE SO THAN YOU CAN REALLY ANY PLACE ELSE IN THE DALLAS REGION.
LET'S JUST OVERLAYS IT IN, IN TERMS OF A, A AERIAL VIEW.
AND TO YOUR PREVIOUS POINT, MICHAEL, THIS KIND OF CALLS OUT THE DIFFERENT AREAS OF INTEREST, UH, FOR DEVELOPMENT.
I KNOW WE'RE TALKING BIOTECH, BUT I MEAN THIS JUST OVER OVERVIEW ALL AND EVERYTHING THAT WE'RE DOING HERE IN DESOTA.
SO CALLING OUT HAMPTON ROAD THERE IN THE MIDDLE TO REALLY GIVE, YOU KNOW, THESE FOLKS AS WE TALK TO THEM, IT'S NOT JUST THE BIOTECH CORE THAT WE'RE FOCUSING ON HERE IN DESOTA.
[01:40:01]
IT'S A HOLISTIC COMMUNITY THAT, THAT HAS A LOT OF THINGS GOING ON.AND THEN WE REALLY KIND OF DOVE INTO THE WORKFORCE PIECE BECAUSE ONE OF THE QUESTIONS THAT ANY COMPANY IS ASKING THEMSELVES WHEN THEY'RE THINKING OF RELOCATING IS, IF I GO THERE, CAN YOU PROVIDE ME THE WORKERS THAT I NEED? ONE OF THE THINGS THAT WE ALWAYS BELIEVE IS BECAUSE WE KNOW THAT, THAT HEALTHCARE WORKERS ARE, ARE, THERE'S A LOT OF 'EM IN SOUTHERN DALLAS.
WE LEARNED THAT WITH THE UT SOUTHWEST, UM, CLINIC, WHEN THEY WERE OPENING UP, HOW MANY PEOPLE CAME TO THAT, UH, JOB FAIR? AND HOW MANY OF THOSE 80% OF THEM WERE FROM SOUTHERN DALLAS, OUR VIRTUALLY ALL 80% OR MORE OF OUR ADULTS GET UP AND LEAVE EVERY, EVERY MORNING AND COME BACK AFTER WORK.
WOULDN'T IT BE GREAT IF WE COULD HAVE HIM WORK IN 10 OR 15 MINUTES FROM HOME? SO THIS GREEN BODY YOU SEE DOWN HERE SURROUNDING DESOTO AND, AND GOING UP REACHING ABOVE NORTH PEGASUS PARK IS A 30 MINUTE AND IMPOSED 30 MINUTE DRIVE TIME OF WHERE DESOTO IS IN RELATIONSHIP TO, UM, THE GREATER DALLAS AREA.
SO YOU SEE WHERE WE CAN PICK UP IRVING AND PEGASUS PARK AND MESQUITE AND DALLAS AND ALL OF THESE PLACES.
LESS THAN 30 MINUTES FROM DESOTO.
YOU'LL NOTE THAT EDS PLANO, MCKINNEY CLEAR AT THE TOP, FRISCO, DENTON, THEY'RE NOT EVEN CLOSE.
AND THEN WE START DELVING INTO WHAT THE WORKFORCE IS WITHIN THAT 30 MINUTES.
AND WE DID JUST ARBITRARILY STRIKE A LINE THROUGH THIS THING ON I 30, BECAUSE THAT'S KIND OF A DIVIDING POINT.
YOU WANNA MOVE FORWARD, MAYBE VERY GO.
THIS TALKS TO US ABOUT LIFE SCIENCES AND DFW AND I THINK THIS IS THE JOBS WHERE THEY EXIST TODAY, CORRECT? MM-HMM.
AND THIS IS WHERE THE WORKERS EXIST.
SO JUST FLIP BACK ONCE WHERE THE JOBS ARE NOW FORWARD, WHERE THE WORKERS ARE.
WHAT WE LEARNED FROM THIS, AND YOU'LL SEE IT ON THE NEXT SLIDE, IS THAT FOR EVERY JOB THAT EXISTS IN SOUTHERN DALLAS, WE HAVE TWO WORKERS.
THERE'S NO QUESTION WE CAN HELP EMPLOYERS FIND PEOPLE AND, AND THEY'LL COME BECAUSE IT'S IN THEIR BACKYARD.
THE IDEA THAT IT IS TWO TO ONE OPENS HUGE DOORS.
AND WE THINK THAT'S A A WE ALWAYS HAD IT IN OUR HEARTS AND OUR HEADS THAT THERE WAS, THAT THIS WAS TRUE.
AND THEN WE PROVED IT UP WITH THE DATA FROM THE CENSUS IN 2020.
AND THIS IS TIED TO THE ACTUAL, UH, COMPREHENSIVE CAPABILITY OF THE TALENT TO THIS IS TAKING THE LIST OF JOBS THAT CREATE THE, THE BIOLIFE SCIENCE GROUP, RIGHT? I DON'T REMEMBER HOW MANY DIFFERENT SPECIFIC JOBS THERE WERE IN THERE.
AND IT'S THOSE JOBS THAT ARE IDENTIFIED.
IT'S THOSE INDIVIDUALS, THE PEOPLE WITH THOSE SKILLS.
WHAT'S SO WHAT'S NEXT? AND THIS STARTS TO LAY OUT THE IDEA THAT THERE'S 90 ACRES, UH, 60 ACRE PARCEL ADJACENT TO THAT 1500 ACRES TO THE EAST OF THAT FOR MANUFACTURING.
PROPOSED RETAIL IMMEDIATELY ON THE SOUTH SIDE OF DANIELDALE.
THE HOUSING THAT'S ALREADY BEING BUILT THERE BY, IN THE WILDWOOD HOUSING DEVELOPMENT, WILDWOOD EAST RUNS ON THE OTHER SIDE OF THE TRAIL.
ALONG ALONG, UH, WESTMORELAND, YOU CAN SEE WHERE METHODIST IS, DALLAS COLLEGE AND THEIR TRAINING FACILITY AT REDBIRD CHILDREN'S HEALTH, PARKLAND, UT SOUTHWEST.
AND THEN OVER OVERLAY THAT WITH DALLAS EXECUTIVE AIRPORT AND LOVE FIELD RIGHT THERE BY PEGASUS PARK, WHICH IS AT THE NORTH END OF THIS THING.
15 MINUTES FROM THAT 90 ACRE PARCEL TO PEGASUS PARK.
AND THESE ARE THE ASSETS AND RESOURCES THAT ARE THIS CLOSE.
WE THINK WHEN PEOPLE START TO UNDERSTAND THAT, THAT THERE'S, THAT THERE'S AN ENTIRELY DIFFERENT CONVERSATION TO BE HAD.
UM, I CAN'T WAIT TO SEND THIS TO MY FRIEND IN MCKINNEY AND SAY, YOU STILL REALLY WANNA PLAY IN THIS FIELD? 'CAUSE WE'RE GONNA KICK YOUR ASS.
UM,
UM, IT'S NOT JUST THE RESEARCH AND LAB SPACE.
IT IS A SENSE OF COMMUNITY, IT'S TRAILS, IT'S OUTDOOR, IT'S HOUSING OF VARIOUS TYPES.
WE'RE TALKING ABOUT NICE LOFT, LIVING TOWN, HOME LIVING, UM, ZERO LOT LINES, HOMES AND SMALLER LOT SIZES.
AND THEN FULL SIZE LOTS LIKE WE'RE USED TO IN THE WILDWOOD DEVELOPMENT THAT'S ALREADY BEING BUILT THERE.
650 HOMES ENTICING THE RETAILS
[01:45:01]
THAT, THAT, THAT WANTS TO SERVE THAT COMMUNITY.THAT THAT PORTION OF OUR COMMUNITY THAT REALLY BECOMES ITS OWN EMPLOYMENT CENTER, ITS OWN LIVED WORK AND PLACE CENTER.
WE SEE ROOM FOR ALL OF THESE ASSET CLASSES THERE.
AND THEN WE REALLY START TALKING ABOUT WHY THE ECOSYSTEM CAN THRIVE HERE WITH THE COMMUNITY THAT'S HERE, THE VARIOUS PROCESSES THAT MAKE IT UP AND THE PEOPLE WHO WILL BE HERE IS WHAT MAKES THIS INTO A THRIVING ECOSYSTEM FOR BIOLIFE SCIENCE.
IS THERE ANOTHER PIECE AFTER THAT, ANTOINE, IS IT'S OUR PROJECT SUMMARY.
UM, AND ACTUALLY THAT'S REALLY FOR US TO FILL IN.
AND THEN THERE'S JUST A QUESTIONS PAGE AFTER THAT.
WELL, THERE'S A COUPLE HANDSOME GUYS.
AND THEN, UM, AND THEN THERE'S A QUESTIONS PAGE.
UM, WE WANTED YOU TO JUST SEE WHAT WE'RE TAKING OUT THERE.
THIS IS WHAT'S IN OUR BRIEFCASE.
THIS IS WHAT WE GET A WALK THROUGH AND TALK THROUGH.
UM, WE'RE HOPING TO BRING BACK A WHOLE LOT OF INTEREST AND MORE THAN THAT TO LEARN FROM THESE FOLKS BETTER.
WHAT NEEDS TO BE PRESENT IN THIS 90 ACRE DEVELOPMENT FOR US TO BE SUCCESSFUL.
AND THE ONLY WAY TO ADD TO TO KNOW IS TO JUST FLAT, FLAT ASK 'EM WHAT, WHAT DOES IT TAKE FOR YOU TO SEE YOURSELF HERE? WHAT DOES IT TAKE? THAT'S GOOD.
THIS WAS REALLY GOOD QUESTION.
WELL, NOT THE MAJOR, BUT I USED TO WORK, UH, OVER AT PEGASUS AND I JUST WANNA SAY, I MEAN, A HUGE ASSET WAS THE, THE EXPRESS LANE.
UM, TRANSPORTATION IS A BIG ISSUE HERE.
UM, AND PEOPLE, I MEAN, SO THERE'S THE COMMUTE TIME, BUT ALSO JUST THE EASE OF THE COMMUTE.
AND THAT'S A TREMENDOUS, UM, THING TO, TO ELEVATE, YOU KNOW, THAT IT'S NOT JUST ABOUT 15 MINUTES.
I MEAN, IT'S JUST THE EASE OF BEING ABLE TO GET ON THAT EXPRESS LANE AND, AND MOVING, YOU KNOW SURE.
QUICK, FAIRLY QUICKLY
UM, FOR THOSE
UM, AND ONE OF THE THINGS THAT WE HOPE WITH THE ASSETS THAT ARE HERE AND MORE ASSETS AS THEY DEVELOP IS THAT WE HAVE THE POTENTIAL THEN TO PARTNER WITH THOSE EMPLOYERS TO CREATE A CIRCULATOR SHUTTLE.
WE DON'T, WE DON'T NECESSARILY HAVE TO BE PART OF DARK, BUT WE DO WANT TO BE ABLE TO CIRCULATE PEOPLE THROUGH THIS AREA SO THAT THIS IDEA OF LIVE, WORK AND PLAY DOESN'T MEAN I HAVE TO GET IN MY CAR.
UM, THE, THE FACT THAT I CAN HAVE MY OFFICES AND MY RESEARCH SPACE LESS THAN A QUARTER OF A MILE FROM MY MANUFACTURING SPACE.
I CAN LITERALLY BE THERE IN MINUTES KEEPING AN EYE ON WHAT'S GOING ON AND, AND WHAT I'M COOKING UP IN MY, IN MY LAB ACROSS THE STREET, UM, FOR THE NEXT BATCH OF CLINICAL TRIALS.
THIS IS HOW IT'S COMING TOGETHER.
I I KNOW I MISSED A MEETING THE OTHER DAY, BUT THIS IS, UM, THIS IS REFLECTIVE OF, I, I THINK WHAT'S POSSIBLE AND KIND OF A BIG VISION.
SO I APPLAUD YOU, APPLAUD US FOR EXECUTING, BUT ALSO GETTING THE PROPER STAKEHOLDERS TO THE TABLE WHO COULD DEVELOP THIS, UH, VISION.
BUT, YOU KNOW, I WAS JUST CHALLENGE US TO CONTINUE TO EXECUTE.
UM, AND I'M PROUD AND HAPPY TO BE A PART OF THAT.
UM, AND I THINK IT'S A, IT'S AMBITIOUS YET SO ADVANTAGEOUS AND IMPACTFUL FOR OUR, WHEN I SAY COMMUNITY, I MEAN LIKE, YEAH, DESOTO, BUT I'M JUST SAYING LIKE THE WORLD.
LIKE IF WE'RE PROVING THINGS THROUGH CLINICAL TRIALS, IF THIS IS TRULY A PLACE WHERE YOU CAN LIVE LONGER AS A BLACK PERSON, IT IS PRETTY POWERFUL.
AND NOT JUST LIKE A, A REGIONAL MODEL.
THIS IS NATIONAL THING OR INTERNATIONAL FACT OR, OR LIKE I SAID, INTERNATIONAL.
SO, SO I, I'M, I'M HAPPY AND I'M GLAD THAT WE'RE, WE'RE MOVING FORWARD WITH THIS.
AND, AND LPA IS SEEMS TO BE A GRACIOUS PARTNER AND UNDERSTANDS AND GRASP THE VISION.
YOU KNOW, IF YOU WANT SOMEBODY WHO CAN GRASP THE VISION AND NOT JUST, YOU KNOW, SEIZE ECONOMIC OPPORTUNITY AND TAKE VALUE FROM YOUR COMMUNITY.
YOU KNOW, OUR, OUR NEXT STEP, IF YOU CAN GO BACK TO THE ASSET SLIDE, THE, UM, THERE THAT ONE, OUR NEXT STEP COMING BACK FROM THIS TRIP, UM, AND BEFORE OUR BIO TRIP, YOU KNOW, WHICH IS A NATIONAL, A NATIONAL STAGE JUST HAPPENS TO BE IN SAN DIEGO, BUT A NATIONAL STAGE IS TO REALLY TAKE THESE ASSET CLASSES AND START TO FIGURE OUT THE, THE SIZE OF THEM.
90 ACRES IS A BIG PIECE OF PROPERTY, OR YOU CAN DEVELOP A LOT ON 90 ACRES.
OUR NEXT STEP IS TO DECIDE HOW MUCH IS RETAIL, HOW MUCH IS HOUSING, HOW MUCH IS RESEARCH AND LAB SPACE? AND NOT JUST IN TERMS OF QUANTITY, BUT HOW DO THEY RELATE TO ONE ANOTHER? WHAT THINGS CAN'T GO NEXT TO EACH OTHER? WHAT THINGS NATURALLY WANT TO GRAVITATE TOWARDS ONE ANOTHER? AND HOW DO WE LAY OUT THAT SPACE? NOT IN A, IN A, IT'S NOT LIKE WE'RE GONNA GO OUT AND STAKE IT ON THE GROUND, BUT WE DO WANNA HAVE ENOUGH OF
[01:50:01]
AN, OF A MINDSET TO BE ABLE TO SHARE THAT WITH THE FOLKS WHO WE'RE TALKING TO SO THAT THEY GO, WHOA, THAT MAKES SENSE.AND I WANNA, I WANNA BE THERE.
COULD THAT BE A LITTLE BIGGER? COULD THAT BE A LITTLE SMALLER? BUT I, THAT'S WHERE I WANT TO BE.
AND START GETTING THOSE LEVELS OF COMMITMENT.
UM, BECAUSE THAT'S WHERE WE REALLY DO HAVE THE OPPORTUNITY TO START IDENTIFYING THE DEVELOPERS AND THE CONSTRUCTION AND THE PROJECT MANAGERS TO BRING IT AND START TO DEVELOP THE PIECE OF PROPERTY.
WE WANT TO, WE WANT TO MOVE THAT FORWARD AS QUICKLY AS WE CAN.
SO YOU START FIGURING OUT THE FUNCTIONALITY.
THAT, THAT'S A GOOD WORD FOR IT.
NOW YOU START FIGURING OUT THE FUNCTIONALITY.
COULD YOU GO BACK TO THE LIKE EDUCATIONAL COMPONENT SLIDE? EDUCATIONAL, I GUESS LIKE THE CONNECTORS.
YOU JUST, YOU HAD IT ON THERE WITH ALL THE PEOPLE AND THE LOGOS.
UM, JUST AS A, A VALUE ADD TO THIS, SO YOU ALL KNOW WE HAVE LIKE THE BUYIN, WHICH IS THE BIO HEALTHCARE, UM, INDUSTRY ALLIANCE.
LONG STORY SHORT, WE ARE NOW OFFICIALLY OVER 45 COMPANIES FOR THE BUYIN.
UM, WITH THE DIFFERENT FOCUSES RIGHT NOW BEING ON, UM, ARTIFICIAL INTELLIGENCE IN THE BIO LIFE SCIENCE SPACE, UH, CAPITAL INVESTMENT TALENT PIPELINE, UM, AND CAREER AWARENESS.
UM, SO ALL OF OUR PLAYERS WHO ARE CURRENTLY AT THE TOP, UM, I JUST WANTED TO LET YOU ALL KNOW WITH DALLAS COLLEGE LEAD NET EFFORT, ALL OF US ARE CREATING ATRICATION AGREEMENTS, UM, EDUCATIONALLY BE ABLE TO PULL PEOPLE FROM THE ASSOCIATES DEGREES TO THE ASSOCIATE'S DEGREE TO THE BACHELOR'S, TO THEN THE MASTER'S.
WE ACTUALLY HAVE A MEETING WITH, UM, UNC HEALTH SCIENCE SYSTEM AS SOON AS WE GET BACK FROM DC NEXT WEEK FOR THE CONVENING FOR THE EDA.
UM, AND THEN ALSO ANOTHER COMPONENT OF THAT IS, UM, AND IT MAY JUST BE LIKE A TALKING POINT WITH THE HELP THAT WE HAD FROM THE DOL GRANT, THE DALLAS COLLEGE HAD, WE ACTUALLY PUT 6,500 PEOPLE IN THE DFW METROPLEX AND APPRENTICESHIPS IN THE HEALTHCARE AND BIO LIFE SCIENCE SPACE, 6,500 PEOPLE.
MANY OF THOSE ARE FROM DESOTO.
YOU KNOW WHAT? LET ME TRY TO GET THAT, LEMME TRY TO GET THAT TO Y'ALL BEFORE Y'ALL LEAVE.
WE CAN, WE CAN FIGURE THAT PART OUT.
UM, AND IT WAS US CREATING APPRENTICESHIP MODELS SPECIFICALLY WITH COMPANIES BASED OFF THE NEEDS THAT THEY HAD.
SO IF THE WORKFORCE WAS IN DEVELOPED, WE CREATED A APPRENTICESHIP MODEL FOR THEM TO GET THE WORKFORCE TRAINED, PUT THEM INTO THOSE JOBS AND THOSE COMPANIES.
SO WE STILL HAVE THE ABILITY TO BE ABLE TO DO THAT AT THE COLLEGE.
SO THAT'S A VALUE ADD AS WELL.
LET ME PUT ONE MORE COMPANY UP THERE.
BUT THERE WAS A, THERE WAS A NOVEL THERAPEUTIC CREATED FOR A RARE CANCER V HIPA LINDE SYNDROME.
POINT BEING IS IT'S GOT MAJOR, MAJOR IMPLICATIONS IN LUNG CANCER, LIVER AND PANCREATIC CANCER TO WHERE WE MAY NOT EVEN BE DOING CHEMO RIGHT.
AT SOME POINT FOR THESE THINGS.
I SAY THAT TO SAY THAT IT WAS DEVELOPED AT UT SOUTHWESTERN BY A PHYSICIAN, A LARGE PHARMACOTHERAPEUTIC COMPANY CALLED MERCK, CAME AND BOUGHT THEM.
SO MERCK GOES ON THIS LIST, AND THEN THIS DRUG THAT COULD BE SO IMPACTFUL FOR MILLIONS FOR CANCER CARE GOING FORWARD WAS DEVELOPED RIGHT HERE.
SO THE FACT THAT YOU HAVE THAT SORT OF UT SOUTH, I, I KNOW THIS.
LONG STORY SHORT, MY, MY BROTHER WHO KNOWS THIS IS ON THIS THERAPEUTIC.
SO, AND THEN IT, THEIR HUB IS AT UT SOUTHWESTERN.
SO I'M GONNA VERIFY AND MAKE SURE THAT, BUT I'M PRETTY SURE THEY'VE SINCE ACQUIRED THAT COMPANY.
SO NOW YOU HAVE MAJOR BREAKTHROUGH CANCER RESEARCH HAPPENING 15 MINUTES FROM HERE.
AND WE THINK THERE'S AN AMAZING STORY WITH LOTS OF ANECDOTAL MM-HMM.
WHETHER IT'S THE, THE BRAIN'S RESEARCH, YOU KNOW, WHAT CPRS DOING, UM, THE, THE THERAPEUTICS THAT ARE BEING DEVELOP FEED CANCERS OF ALL KINDS OF TYPES.
WE THINK THERE'S A TREMENDOUS STORY.
IT'S STILL WONDER THAT PEOPLE ARE COMING ALIVE.
UM, THERE WILL BE A CONTINUED GROWTH OF, OF INVESTMENT DOLLARS INTO THIS, INTO THIS MARKET.
UM, BUT WE'RE ONLY AT THE VERY PIT POINT OF THE SPEAR.
UM, IT, AGAIN, IT'S PART OF THE PROPOSITION THAT WE'RE PROPOSING WITH DESOTO.
OUR 90 ACRE PIECE ISN'T HUGE, BUT IT'S BEEN, AND WHAT'S THE RIGHT AMOUNT? AND THE ANSWER IS WE COULD PROBABLY BUILD IT A LOT BIGGER, BUT THIS IS HIGH RISK, HIGH BETA.
I MEAN, MAKE NO MISTAKE ABOUT IT.
WE'RE ASKING AN INVESTOR TO REALLY BUILD IT AND THEY WILL COME AT $1,400 A FOOT.
UM, BUT WE KNOW THE MARKETS HERE, WE JUST DON'T KNOW HOW DEEP AND HOW
[01:55:01]
BROAD.BUT IF WE DO IT THE RIGHT SIZE, WE MIGHT NOT GET ALL OF IT.
WE MIGHT ONLY GET 20% OF IT, BUT OURS WILL ALWAYS BE FULL BECAUSE WE FIRST TO MARKET PROOF, THE CONCEPT UP THE CHANGEOVER WILL BE, WILL BE FAIRLY RAPID.
WE'RE FOCUSING ON THOSE WHO WILL GROW, GET BOUGHT UP, MOVE SOMEPLACE ELSE, AND EVERYBODY'S GONNA SAY, THAT'S THE PLACE YOU WANT TO GO.
WE MAY BE LIMITING OURSELVES BY NOT BEING DREAMING BIG ENOUGH, BUT WE THINK THAT IF WE DO THAT RIGHT, WE HAVE A MUCH GREATER CHANCE OF SUCCESS.
UM, AND, AND YOU KNOW, IT WAS OUR CONVERSATIONS WITH YOU DOCTOR, THAT YOU SAID, MATT, YOU GOTTA UNDERSTAND THAT YOU'RE TALKING ABOUT RETURNS THAT AREN'T SIX AND 8%.
YOU'RE TALKING ABOUT 30, 40, 50% RETURNS HERE.
IF WE CAN GENERATE THOSE KIND OF RETURNS AND CREATE THOSE KINDS OF JOBS, THIS IS 500 JOBS IN THAT AREA EASILY.
YOU KNOW, AND THAT CHANGES THE WHOLE MAKEUP OF WHAT DESOTO IS.
SO THAT'S THE REASON WE'RE SO EXCITED ABOUT IT.
THANKS FOR LETTING US SHARE IT WITH YOU.
IT'S THE LAST THING I HAD ON MY REPORT FOR YOU GUYS TONIGHT, UM, WAS TO, WAS TO GET A CHANCE TO SHARE THAT WITH YOU.
THERE'S SOME OTHER THINGS THAT YOU GUYS OUGHT TO TAKE A LOOK AT, UM, IN MY REPORT, BUT I WON'T BORE YOU WITH THEM.
UM, WE ARE NAY ON EIGHT O'CLOCK AND, AND I WILL, UM, GIVE IT BACK TO YOU, MR. PRESIDENT.
LET ME SEE IF THERE'S ANYTHING ELSE ON THIS LIST.
NO
[E. BOARD ANNOUNCEMENTS ]
ANY OTHER OBSERVATIONS? ANYONE? OH HO CLEARTHERE BE NO FURTHER BUSINESS, BUT IT'S JUST YOUR CONDOLENCES, EVENTS, ET CETERA.
ANYBODY IN THE BOARD HAVE THOSE? YEAH.
ANY CONDOLENCES EVENTS OR ANYTHING? CONGRATULATIONS.
ET WE'VE GIVEN SOME CONGRATULATIONS ALREADY.
GET ONE MORE LAST ROUND OF APPLAUSE.
DID YOU REALLY HAVE TO GIVE HIM ANOTHER CHANCE? I'M SORRY.
I DO HAVE ONE MORE, I'M SORRY.
SO THE, UH, FACADE GRANT THAT YOU GUYS APPROVED LAST MONTH, MAI OILS, THE, UH, WELLNESS CENTER.
THEY'RE HAVING A GRAND OPENING THIS, UH, SATURDAY SOFT OPENING, THE FORMER, UH, THRIFT STORE RIGHT THERE BY THE ADMIN BUILDING ON BELTLINE.
UH, SHE'S TAKING UP SPACE THERE.
WE'LL SOON BE RENOVATING THAT.
IT'S HAVING A SOFT OPENING THIS SATURDAY.
I WOULD LIKE TO, I'LL GET YOU SOME INFORMATION EMAILED OUT.
THERE BEING NO FURTHER, UH, UH, UH, DISCUSSIONS, UH, FOR THE BOARD THIS EVENING.
THIS MEETING IS HERE BY THE JURY AT 8:00 PM THANK YOU, SIR.