[00:00:04]
TYPE A ECONOMIC DEVELOPMENT CORPORATION PRESIDENT, SO I'LL CALL THE MEETING TO ORDER.
FIRST ITEM ON OUR AGENDA IS ITEM TWO CITIZEN APPEARANCES.
IF THERE'S ANYONE IN THE AUDIENCE THAT WOULD LIKE TO ADDRESS THIS BOARD ABOUT A MATTER NOT ON THE AGENDA, NOW WOULD BE YOUR TIME. I SEE NO REQUESTS AS SUCH.
[3. RECESS INTO EXECUTIVE SESSION]
THE NEXT ITEM ON OUR AGENDA IS ITEM THREE. WE DO HAVE A NEED FOR EXECUTIVE SESSION THIS EVENING.DO I HAVE A MOTION? SO MOVED. SECOND. MOTION BY ADAM.
SECOND BY ALEXA TO GO INTO EXECUTIVE SESSION. ALL THOSE IN FAVOR? MOTION PASSES BY UNANIMOUS VOTE. WE'RE IN EXECUTIVE SESSION AT 4: 30:56.
MOTION BY ADAM, SECOND BY LARRY TO RECONVENE.
I SEE THAT PASSES BY UNANIMOUS VOTE. SO WE'RE BACK IN OPEN SESSION AT 4:41.
[4.A. Consider and take possible action on the minutes from the April 21, 2025 Economic Development Corporation (Type A) meeting. (Staff Contact: Lisandra Leal, Assistant City Secretary)]
NEXT ITEM ON OUR AGENDA IS TO CONSIDER ITEM 4A TO CONSIDER AND TAKE POSSIBLE ACTION ON THE MINUTES FROM THE APRIL 21ST, 2025 CORPORATION MEETING. IF YOU'VE HAD A CHANCE TO READ THOSE, I'LL TAKE A MOTION.MOTION TO APPROVE. SECOND. MOTION BY LARRY AND ALEXA TO APPROVE.
AND SECOND. ALL THOSE IN FAVOR? MOTION PASSES BY UNANIMOUS VOTE.
[4.B. Consider and take possible action on an amendment to Resolution 4A11182024AmendAnnualBudget by amending the Capital Improvement Plan. (Staff Contact: Eric Oscarson, Deputy City Manager)]
NEXT UP IS ITEM 4 B TO CONSIDER AND TAKE POSSIBLE ACTION ON AN AMENDMENT TO RESOLUTION FOUR A 1118 2024 AMEND ANNUAL BUDGET BY AMENDING THE CAPITAL IMPROVEMENT PLAN. THIS WILL BE PRESENTED BY ERIC OSCARSSON.ON SEPTEMBER 9TH, CITY COUNCIL ADOPTED THE ANNUAL BUDGET, WHICH INCLUDED THE 4A CIP.
AND TONIGHT, WE'RE HERE TO ADOPT A NEW CAPITAL PLAN AND PREPARATION TO ISSUE OUR NOTICE OF INTENT.
SO FOR THE UPDATED 2529 CIP, YOU'LL SEE THE THE RED LINE STRIKETHROUGH AND THE GREEN NUMBERS WHICH SHOW ADDITIONS. SO FOR THE ALSBURY BOULEVARD PROJECT, AS YOU KNOW, WE ARE CURRENTLY WORKING THROUGH THAT PROJECT.
THE LAKEWOOD DRIVE EXTENSION. WE ARE CURRENTLY UNDER DESIGN.
WE'VE REDUCED THAT COST DOWN TO 4 MILLION FOR THE FY 27.
THAT'S FOR OUR PORTION OF WHAT WE ANTICIPATE THE TOTAL CONSTRUCTION COST OF THAT PROJECT TO BE.
IF WE RECEIVE FEDERAL FUNDING AND WE'VE PUSHED OUT THE HOOPER BUSINESS PARK SIGN, JUST TIMING WISE WITH REGARDS TO THE DEVELOPMENT OF THAT SITE AND TIMING OF CONSTRUCTING A SIGN. WE'VE MOVED OUT THE FUTURE PROJECT. IF WE HAVE IDENTIFIED ANY PROJECTS THAT MOVE FORWARD, WE CAN MOVE THAT UP. BUT AS OF NOW, WE HAVEN'T PUSHED OUT TO 28, AND WE'VE REMOVED THE HIGH POINT EXPANSION PURCHASE.
THAT'S THE BIG CHANGE FOR THIS YEAR. WE REMOVED THAT.
JUST A REMINDER, WE CASH FUNDED THAT PROJECT.
AND SO WE DECIDED TO CASH FUND THAT RATHER THAN ISSUE THE DEBT.
WE'VE ADDED IN 26 THE CONSTRUCTION DOLLARS ARE ESTIMATED CONSTRUCTION DOLLARS FOR THAT PROJECT.
THESE ARE THE PROJECTS IN TOTAL DOLLAR AMOUNTS THAT ARE BEING PROJECTED TO BE IN THE NOTICE OF INTENT FOR THIS EVENING FOR ALSBURY BOULEVARD PHASE THREE, THE LAKEWOOD DRIVE EXTENSION PROJECT WAVE, AND THE DESIGN OF THE WEST SIDE.
AND WITH THAT, STAFF IS RECOMMENDING APPROVAL OF THE RESOLUTION TO AMEND THE FIVE YEAR CAPITAL PLAN, AND STAFF IS HAPPY TO ANSWER ANY QUESTIONS. I HAVE NO QUESTIONS.
ANYONE? OKAY. I'LL TAKE A MOTION. ITEM FOUR B.
MOVE TO APPROVE THE AMENDED CIP PLAN A SECOND.
HAVE A MOTION BY ADAM. SECOND BY LARRY TO APPROVE ALL THOSE IN FAVOR.
AND THAT MOTION PASSES BY UNANIMOUS VOTE. THANK YOU ALL.
THANK YOU. ITEM FIVE IS BOARD REQUEST FOR FUTURE AGENDA ITEMS OR REPORTS.
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HAVE WE ANY? ALL RIGHT. THEN I SUPPOSE I'LL TAKE A WE HAVE A MOTION TO ADJOURN OR WE JUST ADJOURN.WE'RE ADJOURNED. OKAY. WE WILL ADJOURN AT 4:45.
* This transcript was compiled from uncorrected Closed Captioning.