[00:00:03] RIGHT. THERE IT GOES. WELCOME TO THE CITY OF BEDFORD COUNCIL MEETING. [CALL TO ORDER/GENERAL COMMENTS ] WE'RE OPENING OUR SESSION THIS MORNING, THIS EVENING AT 6:00. AND WE'RE GOING TO GET STARTED WITH OUR INVOCATION. THIS IS GOING TO BE DONE BY RICH STEVES AND OUR PLEDGE OF ALLEGIANCE WILL BE DONE BY NICHELLE DAWKINS. WILL YOU PLEASE STAND? HEAVENLY FATHER, WE COME TO YOU TODAY ASKING FOR YOUR GUIDANCE, WISDOM AND SUPPORT AS WE BEGIN THIS MEETING. HELP US TO ENGAGE IN MEANINGFUL DISCUSSION. ALLOW US TO GROW CLOSER AS A GROUP AND NURTURE THE BONDS OF OUR COMMUNITY. IN GOD'S NAME, WE PRAY. AMEN. AMEN. FIRST LET ME ANNOUNCE THAT MR. COGAN, COUNCILMAN COGAN IS IN OHIO VISITING FAMILY. HE HASN'T BEEN THERE SINCE THE PANDEMIC, SO HE'S ABSENT TONIGHT. AND THEN THE MAYOR IS NOT FEELING VERY WELL. SO YOU'VE GOT ME. SO NEXT UP ON OUR AGENDA IS A PROCLAMATION FOR THE CITY OF BEDFORD FOR THE AMERICAN [COUNCIL RECOGNITION ] RED CROSS MONTH. AND DO WE HAVE A MR. AGUAYO? YES. THANK YOU, SIR. I JUST LOOKED UP SOME STATISTICS ABOUT NORTH TEXAS, AND IT SEEMS THAT IT'S A GOOD THING THAT WE HAVE A NEW LOCATION STARTING OUT HERE, BECAUSE APPARENTLY THE RED CROSS RESPONDED TO 2289 DISASTERS IN OUR REGION, MOSTLY FIRE, WHICH WERE 2193, AND THEY ASSISTED IN 8841 INDIVIDUALS PROBLEMS AND ENROLLED 39,000 IN CPR AND FIRST AID CLASSES. SO YOU ARE DOING A GREAT JOB AND I'M GLAD THAT YOU'RE GETTING A LOCATION OUT HERE. DID YOU HAVE ANYTHING YOU'D LIKE TO SAY? YES, I'D JUST LIKE TO THANK THE CITY OF BEDFORD AND THE CITY COUNCIL, THE MAYOR AND MAYOR PRO TEM FOR RECOGNIZING THE HUMANITARIAN EFFORTS, THE CITY OF BEDFORD, AND JOINING US IN OUR CAUSE TO MAKE SURE TO RESPOND TO INDIVIDUALS THAT ARE FACING DISASTERS. JUST RECENTLY, WE RESPONDED HERE IN THIS AREA TO THE TORNADOES THAT RIPPED THROUGH HERE. AND SO WE'RE JUST THANKFUL TO BE ABLE TO HAVE A CHAPTER HERE IN THE METRO WEST SIDE OF THE METROPLEX, TO BE ABLE TO RESPOND QUICKLY AND MEET THE NEEDS OF OUR COMMUNITY. SO THANK YOU. THANK YOU, SIR. AND LET ME READ THIS PROCLAMATION. WHEREAS DURING THE AMERICAN RED CROSS MONTH IN MARCH, WE CELEBRATE THE HUMANITARIAN SPIRIT OF THE CITY OF BEDFORD AND REAFFIRM OUR COMMITMENT TO HELP ENSURE NO ONE FACES A CRISIS ALONE. AND. WHEREAS, CARING FOR ONE ANOTHER IS AT THE HEART OF OUR COMMUNITY AND EXEMPLIFIED BY THE PEOPLE OF THE CITY OF BEDFORD, WHOSE SIMPLE ACTS OF KINDNESS THROUGH THE RED CROSS PROVIDE HELP AND HOPE IN PEOPLE'S MOST DIFFICULT MOMENTS. CONTINUING THE LIFE SAVING LEGACY OF CLARA BARTON, WHO FOUNDED THE ORGANIZATION MORE THAN 140 YEARS AGO TO PREVENT AND ALLEVIATE HUMAN SUFFERING. AND. WHEREAS, EVERY DAY THESE ORDINARY INDIVIDUALS LEND A HELPING HAND TO MAKE AN EXTRAORDINARY DIFFERENCE FOR NEIGHBORS IN NEED, WHETHER IT'S PROVIDING EMERGENCY SHELTER, FOOD AND COMFORT FOR FAMILIES DISPLACED BY HOME FIRES AND OTHER DISASTERS, DONATING LIFE SAVING BLOOD FOR CANCER PATIENTS, ACCIDENT VICTIMS AND PEOPLE WITH SICKLE CELL DISEASE AND OTHER LIFE THREATENING CONDITIONS, SUPPORTING MILITARY MEMBERS AND VETERANS ALONG WITH THEIR FAMILIES AND CAREGIVERS THROUGH THE UNIQUE CHALLENGES OF SERVICE USING VITAL SKILLS LIKE FIRST AID AND CPR TO HELP OTHERS SURVIVE MEDICAL EMERGENCIES OR DELIVERING INTERNATIONAL HUMANITARIAN AID AND RECONNECTING LOVED ONES SEPARATED BY CRISES AROUND THE WORLD. AND. WHEREAS, THEIR SUPPORT, VOLUNTEERISM AND GENEROUS DONATIONS ARE CRITICAL TO OUR COMMUNITY RESILIENCE, WE HEREBY RECOGNIZE THIS MONTH OF MARCH, IN HONOR OF ALL THOSE WHO FULFILL CLARA BARTON'S NOBLE WORDS, YOU MUST NEVER THINK OF ANYTHING EXCEPT THE NEED AND HOW TO MEET IT AND ASK EVERYONE TO JOIN IN THIS COMMITMENT. NOW, THEREFORE, LET IT BE KNOWN THAT I AM SABOL MAYOR PRO TEM OF THE CITY OF BEDFORD AND THE CITY COUNCIL HEREBY PROCLAIM THE MONTH OF [00:05:03] MARCH 2023 AS AMERICAN RED CROSS MONTH. IN THE CITY OF BEDFORD AND ENCOURAGES ALL CITIZENS OF THE CITY OF BEDFORD TO REACH OUT AND SUPPORT ITS HUMANITARIAN CASE. THANK YOU SO MUCH, SIR. THANK YOU. THANK YOU. THANK YOU FOR COMING. WE APPRECIATE IT SO MUCH. THANK YOU. OKAY, NOW WE HAVE THE [PRESENTATIONS ] PRESENTATION ON THE QUARTERLY INVESTMENT REPORT FOR FISCAL FIRST QUARTER ENDING DECEMBER 31ST, 2022. AND WHO IS PRESENTING THIS? KAREN RICKS, ASSISTANT CITY MANAGER. THANKS, KAREN. GOOD EVENING, MAYOR AND COUNCIL. ACTUALLY, I'M GOING TO INTRODUCE TIM PINON WITH VALLEY VIEW. BUT BEFORE HE STEPS UP, I JUST WANT TO GIVE YOU THIS IS FOR QUARTER ENDING DECEMBER 31ST, 2022 COMPARED TO EXCUSE ME, I'M DEALING WITH ALLERGIES LIKE EVERYBODY ELSE IN THE NORTH TEXAS AREA. SO FORGIVE ME, BUT OUR PORTFOLIO DID DECREASE COMPARED TO THE SAME TIME LAST YEAR BECAUSE WE ARE SPENDING THOSE PROJECT FUNDS ON THE PHASE NEXT PROJECT. ONE OF THE THINGS THAT WAS KIND OF EXCITING IN NOVEMBER, WE HAD A CD THAT WAS MATURING AND THAT CD, AND HE'LL GET INTO THE SPECIFICS AS HE GOES THROUGH THE PORTFOLIO PRESENTATION. BUT THAT CD WAS EARNING 0.35% INTEREST. IT WAS ABLE TO BE REINVESTED AT 4.9%. SO A HUGE WE SHOULD SEE SOME INTEREST EARNINGS IN THIS NEXT QUARTER AND THROUGHOUT THE REST OF THE YEAR. SO I'LL TURN IT OVER TO TIM NOW. AGAIN, IT SEEMS LIKE WE'RE SEEING YOU GUYS MORE AND MORE ALL THE TIME. AND TIME JUST KEEPS GOING FASTER AND FASTER, DOESN'T IT? THANK YOU. SO HERE WE ARE AGAIN. YES. SO, GOOD EVENING, COUNCIL. GOOD TO SEE ALL OF YOU AGAIN. SO, YEAH, JUST KIND OF A QUARTERLY QUICK RUN THROUGH OF WHERE THE CITY'S PORTFOLIO IS JUST TO KEEP THE COUNCIL AWARE OF WHAT IS GOING ON WITH THE CITY'S PORTFOLIO. AND AS KAREN MENTIONED, THE FUNDS DID DECREASE FROM SEPTEMBER TO DECEMBER BECAUSE OF THE PHASE NEXT PROJECT, WHICH IS A GOOD THING BECAUSE THAT MEANS THOSE PROJECTS ARE BEING COMPLETED AND FINISHED AND THE FUNDS ARE BEING SPENT FOR THOSE PURPOSES. SO OVERALL, THE PORTFOLIO DECREASED A LITTLE BIT FROM 100.2 MILLION 100.3 AT THE END OF SEPTEMBER TO 97.6 AT THE END OF THE YEAR. AND IT'S OFFSET A LITTLE BIT BECAUSE TYPICALLY YOU START RECEIVING SOME OF THE PROPERTY TAXES IN THE IN THAT DECEMBER PERIOD. BUT THEN JANUARY AND FEBRUARY IS WHEN YOU DO SEE THE MORE FUNDS COME IN. HERE'S A QUICK LOOK AT JUST HOW MUCH INTEREST RATES HAVE CHANGED IN JUST THE THREE MONTH PERIOD FROM SEPTEMBER TO DECEMBER. SO ALL ACROSS THE RANGE, THE CITY'S PORTFOLIO, THE SWIRFT FUNDS AND THE TOTAL PORTFOLIO UP MORE THAN 100 BASIS POINTS ON ALL THREE. SO AGAIN, JUST REFLECTIVE OF THE INTEREST RATE ENVIRONMENT WE'RE IN. AND AGAIN, KAREN, AS AN EXAMPLE, MENTIONED, THE CITY THAT WENT FROM 35 BASIS POINTS TO 4.95%. SO YOU'RE SEEING THE IMPACT OF THAT REFLECTED IN THESE NUMBERS. AND THEN THE INTEREST EARNINGS ARE JUST SIGNIFICANTLY DIFFERENT FROM WHERE WE WERE A YEAR AGO. YOU WEREN'T THE CITY WASN'T EARNING THIS MUCH IN A CALENDAR YEAR, AND NOW WE'RE DOING IT IN A QUARTER. AND SO AGAIN, JUST KIND OF A MEASURE OF WHERE THOSE FUNDS ARE. YES. SO AT THIS RATE, THE CITY WILL EARN OVER $2 MILLION IN INTEREST INCOME FOR FISCAL YEAR 23, AND THAT'S JUST ON THE CITY'S FUNDS. AND 2.8, IF YOU GO AHEAD AND TAKE THAT TOTAL PORTFOLIO OUT AND JUST PROJECT THAT OVER FOUR QUARTERS AND THEN WE LIKE TO USE THE BENCHMARKS JUST TO SEE HOW IS THE CITY DOING IN COMPARISON TO SOME GOOD BENCHMARKS. AND WHEN YOU HAVE A RAPIDLY RISING RATE ENVIRONMENT LIKE WE'RE IN RIGHT NOW, THE CITY'S PORTFOLIO IS GOING TO LAG A LITTLE BIT BECAUSE IT'S KIND OF CATCHING UP AS THOSE LOWER RETURNING CDS ARE ROLLING OFF AND THEN BEING REPLACED WITH THE HIGHER RETURN. SO THIS IS VERY TYPICAL TO SEE. WE'RE STILL FAIRLY CLOSE IN LINE WITH WHERE THE BENCHMARKS ARE, BUT THEN WE WILL EXPECT TO MATCH AND PROBABLY GO ABOVE THAT. AND TYPICALLY THE CITY DOES EXCEED THOSE BENCHMARKS. THIS IS JUST A QUICK LOOK AT THE YIELD CURVE, JUST TO KIND OF GIVE THIS EVERYONE AN UPDATE ON WHAT WHAT THE MARKET IS SAYING ABOUT THE RATES. SO THE RED LINE IS WHERE WE WERE JUST A YEAR AGO AT THIS POINT. AND IT JUST REFLECTS THE SIGNIFICANT RISE IN INTEREST RATES OVER THE LAST YEAR. THE CONCERNING THING IS JUST THE NEGATIVE SLOPE ON THAT YIELD CURVE, WHICH IS ABNORMAL, AND IT USUALLY INDICATES THAT THE MARKET IS SAYING RATES ARE NOT GOING TO STAY THIS HIGH. RATES ARE GOING TO DECLINE AT SOME POINT. AND THAT'S USUALLY A VERY RELIABLE INDICATOR THAT THAT IS WHAT IS GOING TO HAPPEN AT SOME POINT. SO INFLATION IS REALLY ONE OF THE BIG KEYS THAT IS IMPACTING THE ECONOMY THAT THE FED IS CONCERNED ABOUT. [00:10:01] RIGHT NOW, IT'S RUNNING AT 6.5. THIS WAS AT THE AT THE END OF JANUARY, I THINK FOR FEBRUARY. THE NUMBERS CAME OUT. IT WAS 6.4. SO IT CAME DOWN A LITTLE BIT, BUT IT'S STILL PROBLEMATICALLY HIGH. I WAS LOOKING AT THE SLIDES FOR THIS PRESENTATION. I LOOKED AT WHAT WE HAD A YEAR AGO AND SO I THOUGHT I'D SHARE THIS WITH YOU GUYS, JUST TO SHOW YOU WHAT THE CRYSTAL BALL OF THE EXPERTS LOOKS LIKE. SO WHEN I WAS HERE 12 MONTHS AGO, WHAT I WAS TELLING YOU IS, WELL, THE EXPERTS ARE SAYING THAT THEY THINK THERE WILL BE FOUR FED FUND RATE INCREASES IN 2022 AND WE'LL PEAK OUT AT ABOUT 1.25%. AND THEN WE'LL MAYBE GET PROBABLY GET TWO MORE RAISES IN FEBRUARY 2023. SO END OF 2023, WE'RE AT 1.75%. WELL, WE KNOW THEY KIND OF MISSED THE MARK A LITTLE BIT ON THAT ONE. SO THIS IS WHAT REALLY HAPPENED. WE BLEW THROUGH THAT 1.75% IN JUNE OF LAST YEAR, AND NOW WE'RE AT 4.75. THE FED MEETS AGAIN NEXT WEEK. SO A WEEK FROM TOMORROW, WE WILL SEE WHAT THE RATES ARE GOING TO BE PRIOR TO, I GUESS, MONDAY, THE DEBATE ON THE STREET WAS ARE THEY GOING TO RAISE IT 25 POINTS OR 50 POINTS FOR THE NEXT FED FUND INCREASE? WELL, WITH KIND OF THE FALLOUT FROM THIS WEEK WITH THE SILICON VALLEY BANK AND JUST KIND OF WHERE THE ECONOMY IS, NOW THE DEBATE IS WILL THEY RAISE IT 25 POINTS OR NOT AT ALL? SO IT'S ALREADY HAD AN IMMEDIATE SHIFT IN HOW PEOPLE ARE SPECULATING ON WHAT IS THE FED GOING TO DO IN THE CURRENT RATE ENVIRONMENT. THAT THIS WAS ALSO INTERESTING, TOO. SO THIS IS, AGAIN, PROJECTIONS OF THOSE IN THE KNOW WHERE THEY THINK RATES ARE GOING TO GO. AND THIS WAS JUST THREE MONTHS AGO, AND I THINK I MAY HAVE SHARED THIS WITH YOU LAST TIME I WAS HERE. SO THE EXPECTATION WAS RATES WERE PROBABLY GOING TO PEAK OUT AROUND MAY OF THIS YEAR AND THEN THEY'RE GOING TO THE FED'S GOING TO HAVE TO START PULLING BACK AND LOWERING RATES SO THAT BY THE END OF THIS CALENDAR YEAR, WE'RE AROUND 4.25%. THAT'S KIND OF THE PROJECTION. SO THAT WAS THAT WAS THREE MONTHS AGO. WELL, NOW THAT CURVE IS FLATTER, BUT IT'S ALSO HIGHER. SO NOW WE'RE GETTING CLOSE TO RATHER THAN BEING BELOW 5% THE WHOLE TIME, NOW WE'RE GOING IN EXCESS OF FIVE AND ONE HALF OR 5.4% PROBABLY THIS SUMMER. SO THEY'VE PUSHED THE CURVE OUT. RATES ARE GOING TO STAY HIGHER IS WHAT THEY THINK NOW ANYWAY A LITTLE BIT LONGER. AND EVEN THEN, BY THE END OF THE YEAR, WE'RE STILL EXPECTED TO BE ABOVE 5%. SO IT'S JUST A VERY UNSTABLE, VERY VOLATILE SITUATION THAT WE'RE IN RIGHT NOW. AND THIS IS JUST KIND OF A QUICK LOOK AT WHERE CURRENT RATES ARE. THIS WAS AS OF FEBRUARY 23RD. THESE HAVE ADJUSTED A LITTLE BIT, BUT THEY'RE STILL GIVE YOU A FAIRLY GOOD INDICATION OF WHERE RATES ARE. AND SO THAT'S ONE OF THE THINGS THAT THE INVESTMENT COMMITTEE WE KIND OF WRESTLE WITH A LITTLE BIT IS DO YOU GO AHEAD KNOWING THAT THE YIELD CURVE IS SAYING RATES ARE PROBABLY GOING TO COME DOWN, DO YOU GIVE UP SOME YIELD? DO YOU PUT FUNDS OUT IN THAT TWO YEAR MARKET, THE 24 MONTHS? DO YOU TIE SOME UP, LOCK THAT IN FOR A LONGER PERIOD OF TIME, OR DO YOU SACRIFICE THAT 40 BASIS POINTS BY GOING FOR A YEAR AND GETTING A LITTLE BIT OF A HIGHER RATE? SO THAT'S OUR RECOMMENDATION. AND OUR APPROACH IS TO BE KIND OF HAVE A DISCIPLINED APPROACH, SET THAT LADDER UP SO THAT YOU'VE GOT RUNGS ALL ALONG THAT LADDER SO THAT YOU DO LOCK SOME OF YOUR FUNDS UP FOR THE LONGER TERM. BUT THEN YOU'RE ALSO CAPTURING SOME OF THOSE 12 MONTH RETURNS THAT ARE AVAILABLE TO. JUST A KIND OF A QUICK LOOK AT SOME OF THE MARKET HIGHLIGHTS. ONE OF THE THINGS THAT IS PUTTING PRESSURE ON THE FED TO CONTINUE TO RAISE RATES IS THE JOBS REPORT THAT CAME OUT. SO JANUARY HAD A REALLY STRONG NUMBER. THEY WERE EXPECTING 185,000 NEW JOBS. THE REPORT CAME OUT. IT WAS OVER 500,000. THAT WAS LOWERED A LITTLE BIT, BUT IT WAS STILL ABOVE $500,000 WHEN THEY DID THE REVISION. UNEMPLOYMENT RATE, 3.4% IS STILL GOOD FOR FEBRUARY. THAT WAS THREE POINT WAS 3.5 OR 3.6. SO STILL VERY STABLE EMPLOYMENT RATE THERE. HOUSING IS STARTING TO SLOW DOWN. SO HERE IT'S UP 2.3%. WE'VE HAD 130 CONSECUTIVE MONTHS OF MEDIAN OF THE MEDIAN PRICE INCREASING. WE'RE NOW AT 131. IT INCREASED AGAIN IN FEBRUARY, BUT WE'RE SEEING THAT RATE OF GROWTH SLOW. SO IT ALMOST FEELS LIKE WE'RE KIND OF MAYBE AT THE TOP OF A PEAK AND IT'S LIKE, OKAY, MAYBE, MAYBE SOME PRESSURE BRINGS PRICES DOWN A LITTLE BIT. BUT YEAH, THIS IS THE LONGEST STREAK WE'VE EVER HAD ON RECORD. WHEN I DID WHEN I PUT THIS TOGETHER, I TURNED IT IN FOR THIS MEETING. THE 30 YEAR WAS A 6.9. NOW IT'S AT, I BELIEVE, A 6.7, 6.8%. SO THAT 30 YEAR MORTGAGE RATE HAS SPIKED UP. AND THAT'S THAT'S A SIGNIFICANT DIFFERENCE, THAT 60, 70 BASIS POINTS THAT IMPACTS A HOME BUYERS MONTHLY PAYMENT QUITE A BIT. SO JUST OUR RECOMMENDATIONS, AGAIN, AS WE TALKED ABOUT WITH WITH THE UNCERTAINTY OF WHERE RATES ARE GOING, WE RECOMMEND A LADDER APPROACH AND THAT'S WHAT THE INVESTMENT COMMITTEE IS WORKING TOWARDS, IS BUILDING OUT A PORTFOLIO WITH VARYING MATURITIES ALONG THAT TIMELINE JUST TO LOCK IN AND TO TO BE ABLE TO ADAPT TO WHATEVER THE MARKET BRINGS. SO THAT IS THE KIND OF THE OVERVIEW, THE LOOK AT FOR THE QUARTER. [00:15:01] ANY QUESTIONS I CAN ANSWER? THANK YOU, TIM. DOES ANYBODY HAVE ANY QUESTIONS? OH, YOU GOT OFF CLEAR. I DID. I DID. IT'S INTERESTING TO ME THAT ALWAYS INTERESTING TO ME THAT THE EMPLOYMENT RATE IMPROVES, THE MARKET DROPS. IT JUST SOME OF THE STUFF IS JUST MIND BOGGLING TO ME. BUT THE INTEREST RATE AS FAR AS THE CITY IS CONCERNED IS A VERY GOOD THING. IT'S HELPFUL THERE. IT'S NOT GOOD FOR THE CONSUMER. RIGHT. SO. I KNOW THEY'RE WELL. AND YOU THINK OF YOU THINK OF THE RETIRED COMMUNITY LIVING ON FIXED INCOME. YOU KNOW, THEY'VE THEY'VE GOT THEY'RE NOW GETTING HIGHER INTEREST RATES ON CDS AND THINGS. BUT THEN YOU'VE GOT THE INFLATION THAT'S ALSO REDUCING THEIR BUYING POWER. SO IT'S JUST. YEAH. SO YOU'RE THINKING BY 2024 OR AT LEAST THE MARKETING REPORT IS THAT IT WILL FLATTEN OUT, BUT IT'LL END UP AT 5.5.. FOR IN A YEAR. THAT'S THE CURRENT PROJECTION. SO YEAH, WHAT, BECAUSE THE HIGHER INTEREST RATES TEND AND THE INTENT IS TO SLOW THE ECONOMY DOWN BECAUSE THE INFLATION LEVEL, IT'S GOING TOO FAST, IT'S OVERHEATING. THERE'S AND SO YOU WANT TO TAMP DOWN THE RATE OF GROWTH AND SO THAT THE HIGHER INTEREST RATES SLOW THINGS DOWN. BECAUSE EVEN AS AN EXAMPLE WITH THE HOME PURCHASE, YOU'RE MORE RELUCTANT TO BUY, THERE'S LESS HOME YOU CAN BUY FOR YOUR BUDGET. SO THAT SLOWS THE ECONOMY. WELL, YOU GET TO A POINT OF WHERE YOU'VE SLOWED IT DOWN TOO MUCH AND THEN YOU HAVE TO START LOWERING RATES TO THEN TRY TO STIMULATE THE ECONOMY TO FIND THAT THAT BALANCE OF LOW INFLATION, BUT A GROWING ECONOMY. AND SO THAT'S THAT'S THE BALANCING ACT THEY'RE TRYING TO PULL OFF, WHICH IS IT'S TOUGH. YOU SAID YOU HAD A LADDER MATURITY. SO IS IT A PERCENTAGE THAT YOU YOU TRY TO HANG BY AS FAR AS LIKE HOW MUCH ON THIS THIS RUNG? HOW MUCH ON THIS RUNG? YEAH. SO WHAT WE TRY TO LOOK AT IS, IS THE CITY'S CASH FLOW PROJECTIONS. SO THERE ARE THINGS THAT ARE VERY PREDICTABLE. THERE'S KIND OF A CORE, A CORE BASE ALONG THE BOTTOM THAT IS ALWAYS THERE AND THEN YOU'VE GOT THE SEASONAL FLOW. SO TYPICALLY IN DECEMBER, JANUARY, FEBRUARY, THE BALANCES RISE BECAUSE YOU'VE GOT THE PROPERTY TAX COMING IN AND THEN THE REST OF THE NINE MONTHS, YOU'RE KIND OF SPENDING THAT DOWN. SO PART OF THE PORTFOLIO, YOU'RE LOOKING AT MANAGING INVESTMENTS TO THAT, THAT NATURAL CASH FLOW. AND THEN YOU'VE GOT PROJECTS LIKE PHASE NEXT. SO YOU'LL TRY TO MATCH UP LADDERS BASED ON WHEN YOU'RE EXPECTING TO SPEND THOSE FUNDS. AND THEN YOU'VE KIND OF GOT A CORE AND WITH THAT, YOU CAN PUT PART OF THAT INTO THOSE LONGER TERM SECURITIES. SO IT'S IT'S KIND OF A BALANCE AND A MIX OF THOSE DIFFERENT COMPONENTS OF THE CITY'S PORTFOLIO. WE DO APPRECIATE YOU AND THANK YOU FOR COMING. ABSOLUTELY. WE ENJOY WORKING WITH THE CITY. SO THANK YOU. OKAY. OH, MEG. SO NEXT UP IS WE'RE DOING A PRESENTATION ON QUARTERLY INVESTMENT REPORT FOR THE FISCAL FIRST QUARTER ENDING DECEMBER 31ST, 2022. AND WE'VE GOT OUR FAVORITE MEG UP THE MEG. THANK YOU SO MUCH, MA'AM. GOOD EVENING. COUNCIL SO YES SO AS WE HAVE COME TO TRY TO DO NOW YOU GET YOUR INVESTMENT REPORT AND THEN YOU GET YOUR QUARTERLY FINANCIAL REPORT. AND SO I'M HERE JUST TO GIVE YOU THE HIGHLIGHTS. OF COURSE, WE HAVE MORE DETAIL IN THE COUNCIL PACKETS THAT'S ALSO POSTED ON THE WEBSITE FOR ANYONE WHO WANTS TO DIG DEEPER INTO THE NUMBERS. SO WE'RE JUST GOING TO TAKE A LOOK, STARTING WITH OUR GENERAL FUND. AND IT'S KIND OF MY FAVORITE REPORT TO GIVE THIS QUARTER BECAUSE THERE'S NOT A WHOLE LOT OF REMARKABLE THINGS TO NOTE. PROPERTY TAX HAS COME IN VERY WELL. THAT REALLY IS A TIMING ISSUE. YOU KNOW, THE TARRANT COUNTY TAX ASSESSOR COLLECTOR COLLECTS OUR FUNDS FOR US AND THEN WHEN THEY'RE REMITTED AND THEN CODED INTO OUR FINANCIALS IS KIND OF WHEN THEY HIT. SO SOMETIMES WE'VE GOT A LITTLE BIT BETTER FIRST QUARTER, SOMETIMES WE HAVE A LITTLE BIT BETTER SECOND QUARTER. THIS IS ONE OF THOSE YEARS WHERE WE'VE GOT A LITTLE BIT BETTER FIRST QUARTER BECAUSE THAT PAYMENT CAME IN AND WAS RECORDED BACK INTO DECEMBER. BEYOND THAT, OUR OTHER INCOME STREAMS ARE PRETTY MUCH ALONG THEIR SEASONALLY STANDARD PRACTICES. AS YOU RECALL LAST YEAR WE DID HAVE AN ACCOUNTING CHANGE. SO NOW WE'RE ABLE TO GET THOSE COMPARISONS YEAR OVER YEAR, WHICH IS MORE APPROPRIATE TO SEE HERE. AGAIN, YOU CAN SEE THAT THAT PROPERTY TAX RECEIPTS COMING IN EARLIER THAN IT TIMED OUT LAST YEAR, GIVING US AN IMPROVEMENT THERE. SALES TAX WHEN WE LOOK YEAR OVER YEAR, AGAIN, REMEMBERING THAT OUR SALES TAX RECEIPTS ARE TWO MONTHS BEHIND, THE SPEND IS CONTINUING TO SEE YEAR OVER YEAR IMPROVEMENT. BUT WE CAN SEE THAT NICE COMPARISON. NOW THAT WAS A LITTLE WONKY LAST YEAR AS WE WERE ADJUSTING OUR ACCOUNTING PRACTICES. SO BEYOND THAT, SOME EBB AND FLOWS AND SOME OF THE NUMBERS CHARGES FOR SERVICES A LITTLE BIT DOWN AGAIN, SEASONAL AND JUST KIND OF THE TIMING OF COLLECTIONS. SO LOOKING AT EXPENDITURES, THIS IS THAT FIRST COMPARISON, LOOKING AT OUR CURRENT YEAR COMPARED TO BUDGET. [00:20:04] AND SO WE'RE SEEING THOSE NUMBERS IN PLAY AND WE'LL. AND SO, AGAIN, MOST OF OUR DEPARTMENTS ARE RIGHT AT THAT 25% SPEND MARK. AND SO NOTHING CONCERNING THOSE ONES THAT YOU'RE SEEING A LITTLE BIT HIGHER THAT'S HAVING TO DO WITH ONE TIME PAYMENTS THAT COME IN. YOU KNOW, OUR INSURANCE, WE PAY IT ONCE A YEAR. IT COMES IN EARLY IN THE YEAR. SO IT INFLATES THAT INITIAL COMPARISON. BUT THEN WE DON'T HAVE THAT REGULAR SPENDING OCCURRING THROUGHOUT THE REST OF THE YEAR. AND THEN LOOKING YEAR OVER YEAR, AGAIN, COMPARISON TO BUDGET, IT'S WHAT WE EXPECT TO SEE. JUST LOOKING AT THE EBBS AND FLOWS OF WHEN THE SPENDING PATTERNS HAPPEN. AND OF COURSE THAT DEVELOPMENT PAYMENT LAST YEAR WAS A ONE TIME PURCHASE, WHICH IS THROWING THE NUMBERS OUT OF WHACK WHEN YOU'RE LOOKING AT IT ON COMPARISON. MOVING ON TO WATER AND SEWER FUND AGAIN, IT'S IT'S PRETTY MUCH WE'RE SEEING STABLE. THIS IS THAT THAT FINALIZATION OF THE RATES THE NEW RATES THAT WERE ADOPTED AS PART OF THE BUDGET PROCESS DON'T GO INTO EFFECT UNTIL JANUARY 1ST. AND SO WE'LL START SEEING THAT GAIN IN NEXT QUARTER'S NUMBERS. BUT SEWER CHARGES ON PACE AND THEN WATER CHARGES. AND OF COURSE, THAT'S A LOT OF THAT'S DEPENDENT ON ON HOW OUR WEATHER GOES AND HOW MUCH WATER WE'RE SELLING. EXPENDITURES. LOOKING AT YOUR THREE YEAR HISTORY HERE WITH THE CURRENT YEAR ON THE TOP BAR OF THE GRAPH AND AGAIN TIMING OF PAYMENTS. THOSE PAYMENTS TO THE TRINITY RIVER AUTHORITY FOR OUR WATER PURCHASE, OUR WASTEWATER TREATMENT VARIES WHEN THEY ACTUALLY HIT THE BOOKS. AND SO OUR COMPARISONS YEAR OVER YEAR SOMETIMES JUST LOOK A LITTLE BIT OFF. BUT NOTHING IN LOOKING INTO THE THE DETAILS OF THE NUMBERS IS CONCERNING. AND THEN HITTING INTO OUR OTHER FUNDS TOURISM FUND. WE ARE SEEING STRONG COLLECTIONS, ACTUALLY DOUBLE COLLECTIONS IN OUR HOTEL MOTEL TAX. SO THAT'S A NICE SIGN TO SEE FOR THAT INDUSTRY. AND THEN EXPENSES ARE LOWER THAN LAST YEAR BECAUSE LAST YEAR WE WERE INVESTING IN THE IMPROVEMENTS AT THE OLD BEDFORD SCHOOL. STORMWATER FUND. WE'RE SEEING JUST THAT THAT RATE INCREASE THAT WE ADOPTED A YEAR AGO NOW COMING INTO EFFECT IN THE COMPARISON NUMBERS AGAIN CONTINUES TO BE OUR MOST STABLE FUND. NOT MUCH TO REMARK UPON. FOR B SALES TAX. WHEN YOU LOOK AT THE THREE YEAR, YOU CAN SEE THAT CHANGE IN ACCOUNTING PRACTICE. BUT WHEN YOU LOOK JUST THE MOST RECENT TWO YEARS, YOU CAN SEE AGAIN, WE'RE STILL SHOWING AHEAD AND STRONG REVENUE COLLECTIONS FOR THAT FUND AND OUR STREET IMPROVEMENTS. AND THEN THIS IS A NEW GRAPH INTO OUR QUARTER. AS YOU KNOW, WE DID RECEIVE $12.6 MILLION FROM THE FEDERAL GOVERNMENT AS PART OF THE AMERICAN RESCUE PLAN ACT. AND SO COUNCIL HAS THROUGH THE COURSE OF APPROVED VARIOUS PROJECTS FROM OUR VARIOUS DEPARTMENTS. SO WE JUST KIND OF WANTED TO GIVE YOU A LITTLE TRACKER ON WHERE THE DEPARTMENTS WERE IN SPENDING, THE FUNDS THAT HAVE ALREADY BEEN APPROVED AND ALLOCATED. SO THESE ARE THE ACTUAL APPROVED PROJECTS. OF COURSE, WE DO STILL HAVE SOME MONEY AND IN THE QUARTERLY FINANCIAL REPORT YOU CAN LOOK AT THE SPECIFIC DETAILS THAT HAVEN'T BEEN OFFICIALLY COMMITTED BY COUNCIL, ALTHOUGH STAFF DOES HAVE A PLAN THAT HAS BEEN DISCUSSED WITH COUNCIL ON WHERE THAT MONEY INTENDS TO GO AND WE WILL CONTINUE TO BRING THOSE PROJECTS, INCLUDING ONE TONIGHT, TO TO USE THOSE MONIES IN USE WITH THE ALLOWABLE USE OF THE FUNDS. SO HIGH LEVEL, BUT I'M HAPPY TO TAKE ANY QUESTIONS. OKAY. COUNCIL MICHELLE. THANKS. MAYOR PRO TEM. SO MEG, FOR THIS THE ARPA FUNDS, THE ORANGE REMAINING BUDGET, THOSE ARE THE ONES THAT HAVE ALREADY BEEN ALLOCATED BUT NOT NECESSARILY BEEN SPENT. CORRECT? LIKE FIRE, FOR INSTANCE, WE'VE APPROVED THE PURCHASE OF A MEDIC, AN AMBULANCE. WE HAVEN'T RECEIVED IT YET. WE HAVEN'T SPENT IT YET. SO THAT'S STILL SITTING AS A COMMITTED BUT UNSPENT BALANCE AMOUNT. ALL RIGHT. THANK YOU. I DID HAVE ONE QUESTION. YOU KIND OF SLID RIGHT OVER IT, BUT DEVELOPMENT HAD A LOT OF HAD A REALLY LONG BAR THERE. AND YOU SAID IT WAS FROM LAST YEAR. COULD YOU JUST TELL THE AUDIENCE WHAT THAT REALLY WAS FOR? IT WAS THE LAND PURCHASE FOR CAMPUS WEST. OKAY. THANK YOU. ANYONE ELSE ON COUNCIL? OH, MEG, THAT WAS TOO EASY. YOU KNOW, I LIKE WHEN I GET TO COME UP AND GIVE BORING REPORTS. IT MEANS EVERYTHING'S MOVING THROUGH BORING. BUT IT WAS GOOD. IT WAS A GOOD REPORT. THANKS SO MUCH. THANK YOU. THANK YOU. OKAY, NOW WE'VE GOT CITY MANAGER JIMMY STATHATOS UP AND HE'S GOING TO READ TO US ABOUT ALL OF OUR CONSENT ITEMS. [00:25:01] JIMMY THANK YOU, MADAM MAYOR. PRO TEM THE. OH, WAIT, WAIT, WAIT. LET'S SKIP SOMETHING. PUBLIC COMMENTS. [PUBLIC COMMENTS ] OH. I DID. AND WE'RE GOING TO HEAR FROM OUR FAVORITE BOB COCHRANE THIS EVENING. AND JUST STATE YOUR NAME AND TAKE OFF, MR. COCHRANE. BOB COCHRANE 2252 BEDFORD CIRCLE. I'M NOT SURE HOW I RATE IS YOUR FAVORITE, AND I DON'T KNOW THAT I WANT TO BE THE FAVORITE. I WANT TO COMMENT ON ITEM 13. CONSIDERING A RESOLUTION TO SPEND ARPA MONEY FOR A FEASIBILITY STUDY TO DETERMINE THE LIKELIHOOD OF SUCCESSFUL CAPITAL CAMPAIGN TO RAISE FUNDS, CONTRIBUTE TO THE CONSTRUCTION COST OF THE NEW PERFORMING ARTS CENTER. I WILL DO THAT FOR YOU FOR 20 BUCKS. IT'S VERY FEASIBLE. OKAY. HOPEFULLY THEY WILL DETERMINE THAT THIS CAMPAIGN COULD RAISE AT LEAST $500,000, WHICH WOULD BE 5% OF THE 10 MILLION WE ANTICIPATE SPENDING AND MAYBE $1 MILLION AND HOPEFULLY RAISE ENOUGH TO WHERE WE CAN GET EVERYTHING THAT WAS ORIGINALLY IN THE THE PLAN NUMBER THREE THAT YOU GUYS APPROVED, WHICH WAS THE BIG ONE, EVERYTHING THAT'S IN THERE. ONE OTHER COMMENT. I THINK PUBLIC COMMENT SHOULD BE REMOVED TO THE END OF THE AGENDA SO THAT PEOPLE, IF THEY WANT TO COMMENT ON SOMETHING THAT WAS SAID DURING THE MEETING, THEY COULD COME UP AND COMMENT ON IT. OKAY. I MEAN, THERE'S A LOT OF THINGS HERE, AND I MAY SEE SOMETHING AND IT'S LIKE, WELL, I WISH I'D SIGNED UP FOR IT, BUT I DIDN'T KNOW WHAT THEY WERE GOING TO SAY. SO THAT'S ANOTHER COMMENT. THANKS, BOB. WE APPRECIATE YOUR THOUGHTS. IN FACT, IT SORT OF GOES ALONG WITH WHAT I THINK. I THINK THE FEASIBILITY STUDY PROBABLY IS AN EXPENSIVE EXPENDITURE WE DON'T NEED BUT TO MAKE COUNCIL MORE COMFORTABLE, I THINK THAT'S PROBABLY THE DIRECTION THAT WE NEED TO GO. ANYWAY, THANK YOU SO MUCH FOR YOUR COMMENTS. [CONSIDER APPROVAL OF ITEMS BY CONSENT ] WE APPRECIATE IT, SIR. NOW, CITY MANAGER JIMMY STATHATOS. SORRY. THAT'S OKAY. JUST THIS ONCE. I'M JUST KIDDING. SORRY ABOUT THAT. OKAY. THE FIRST TWO ITEMS OR THE FIRST ITEM IS TWO SETS OF MINUTES FOR THE COUNCIL MEETINGS THAT WERE HELD ON FEBRUARY 14TH AND FEBRUARY 20TH 8TH OR FEBRUARY 28TH WAS THE WORK SESSION. I'M SORRY. AND THE NEXT ITEM IS CONSIDERATION OF AN ORDER CANCELING THE MAY 6TH, 2023 GENERAL ELECTION AND DECLARING UNOPPOSED CANDIDATES FOR CITY COUNCIL PLACE FOUR AND PLACE SIX TO BE ELECTED TO THE OFFICE IN ACCORDANCE WITH PROVISIONS OF SUBCHAPTER C OF CHAPTER TWO OF THE TEXAS ELECTION CODE. THIS WOULD CANCEL THE ELECTION BECAUSE NEITHER OF THE INCUMBENTS DREW AN OPPONENT. THE NEXT ITEM IS TO CONSIDER RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A GLOBAL OPIOID SETTLEMENT DOCUMENT RELATING TO THE ALLERGEN, WALMART, CVS AND WALGREENS SETTLEMENTS AND ANY FUTURE OPIOID SETTLEMENTS AT NEGOTIATED BY THE STATE ATTORNEY GENERAL AND AUTHORIZING THE CITY MANAGER TO TRANSMIT THOSE DOCUMENTS TO THE ATTORNEY GENERAL AND PROVIDING FOR AN EFFECTIVE DATE. THIS ITEM IS TO AUTHORIZE BEDFORD PARTICIPATION IN THESE NATIONAL SETTLEMENT AGREEMENTS, AND BASICALLY THE PROCEEDS THAT WE RECEIVE HAVE TO BE USED FOR SPECIFIC USES. IT'S NOT JUST CARTE BLANCHE. THE NEXT ITEM IS CONSIDER A RESOLUTION OF THE CITY OF BEDFORD, TEXAS, APPROVING THE AMERICAN RESCUE PLAN ACT APPROPRIATION PLAN AND RECOGNIZING AND APPROPRIATING EXPENDITURES WITHIN THE FISCAL YEAR 2023 CORONAVIRUS LOCAL FISCAL RECOVERY FUND BUDGET FOR THE PURCHASE AND INSTALLATION OF ACCESSIBILITY HARDWARE FOR DOORS AT CITY FACILITIES WITH DOOR CONTROL SERVICES FROM THE BY BOARD PURCHASING COOPERATIVE IN AN AMOUNT NOT TO EXCEED $27,145. COUNCIL MEMBER STEVES HAD BROUGHT TO MY ATTENTION THAT THERE WAS A BUILDING THAT WAS NOT ACCESSIBLE FOR HANDICAPPED INDIVIDUALS. AND SO THAT LED US TO DO AN INVENTORY OF ALL OF OUR CITY, ALL OF OUR CITY FACILITIES. AND THIS REQUEST WILL HELP US TO ADDRESS ALL THOSE NEEDS. THE NEXT ITEM IS TO CONSIDER A RESOLUTION AUTHORIZING THE CONSUMPTION OF ALCOHOLIC BEVERAGES AT GENERATIONS PARK AT BOYS RANCH DURING THE NORTHEAST. TARRANT LIONS CLUB, 0.4 SLACKER RUN ON SATURDAY, MAY 6TH, 2023. YEAH, THIS THIS ITEM IS TO REQUEST COUNCIL APPROVAL BECAUSE ALCOHOL WILL BE CONSUMED AT A PARK. THE NEXT AND FINAL ITEM IS TO CONSIDER A RESOLUTION AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO ESTABLISH AN ANNUAL REQUIREMENTS CONTRACT FOR THE PURCHASE OF AUDIOVISUAL EQUIPMENT, ACCESSORIES AND SERVICES FROM BNA PHOTO AND ELECTRONICS, WHICH IS DBA OF B AND H, AND AN ESTIMATED AMOUNT OF $80,000 THROUGH THE [00:30:05] OMNIA PUBLIC SECTOR PURCHASING COOPERATIVE. THIS IS SIMILAR TO OTHER AGREEMENTS THAT WE'VE DONE THAT ENABLE US TO PIGGYBACK ONTO. WE GET MORE BANG FOR OUR BUCK, IF YOU WILL, IF AND KIND OF STRENGTH IN NUMBERS. AND I CAN COME UP WITH ALL THESE DIFFERENT EUPHEMISMS BASICALLY, BECAUSE A LOT OF PEOPLE ARE GOING TO BE USING THIS BY BOARD, IT'LL ALLOW US TO GET A BETTER RATE AND SAVE TAXPAYERS DOLLARS. SO THIS CONCLUDES THE CONSENT ITEMS, UNLESS ANYONE HAS ANY QUESTIONS. COUNCIL. WHAT IS. OKAY. MR GAGLIARDI USE MINE. I SEE. IT SHOULD BE ABLE TO SEE. THIS IS THE. DO YOU WANT TO HEAR? HEY, JIMMY, I HAVE. WHAT WOULD YOU LIKE TO HEAR? FIRST TIME. LONG TIME. LET ME PUT MY READERS ON HERE. WHAT IS AN SO THE ANNUAL REQUIREMENTS CONTRACT. WHAT IS THAT? SO WE'RE LIKE LIKE WE'RE HAVING TO SAY WE'RE GOING TO BUY AT LEAST $80,000 WORTH OF STUFF OR. THAT'S A GREAT QUESTION. I'D LIKE TO DEFER TO BLAKE BECAUSE I THINK I KNOW, BUT HE REALLY KNOWS, SO I'M SORRY. SORRY. IT'S OUR SAME CLUB. GOOD EVENING, COUNCIL. SO AN ANNUAL REQUIREMENTS CONTRACT IS BASICALLY ESTABLISHING AN ESTIMATED AMOUNT THAT THE CITY CAN USE AS NEEDED. SO IT'S JUST KIND OF A WE WANT TO SPEND X NUMBER OF DOLLARS CITYWIDE ON THIS CONTRACT. AND IT JUST IT'S REALLY JUST FOR THE AS NEEDED PURCHASES OVER THE COURSE OF THAT YEAR. SO REQUIREMENTS CONTRACT IS IT'S A IT'S A LEGAL DEFINITION OF A TYPE OF CONTRACT THAT WE CAN USE REQUIRED AS NEEDED TYPE OF SERVICES OR GOODS. OKAY. THANK YOU. OKAY. THAT WAS A LITTLE CONFUSING FOR ME. SO, SO IT'S KIND OF LIKE A LITTLE BUDGET YOU'RE SETTING ASIDE TO BUY PURCHASE EQUIPMENT THAT YOU'LL NEED FOR DIFFERENT DEPARTMENTS TO DO YOUR JOB, CORRECT? IT'S JUST IT'S ESTABLISHING SPENDING THRESHOLDS FOR SERVICES THAT WE USE, GOODS THAT WE PURCHASE, AND IT JUST ALLOWS DEPARTMENTS TO DO THAT ON AN AS NEEDED BASIS. OKAY. I APPRECIATE IT. THANKS SO MUCH. BLAKE, ANYBODY ELSE? OKAY, WE NEED A MOTION MOTION. RICH STEVES MOTION. MAKE A MOTION LIKE THE MOTION TO APPROVE AND MR GAGLIARDI. I WOULD LIKE TO SECOND THANK YOU SO MUCH. AND NOW LET'S VOTE. IT'S UNANIMOUS. SO THAT HAS PASSED. [PERSONS TO BE HEARD ] AND WE'RE GOING TO GO ON TO PERSONS TO BE HEARD. FIRST UP IS BETSY DUBBELBOER. IS SHE HERE THIS EVENING? HI, BETSY. JUST STATE YOUR NAME AND THEN WE'LL BE GLAD TO HEAR FROM YOU. MY NAME IS BETSY DOPPELBAUER AND I LIVE AT 1700 MUNICIPAL COURT. AND I WOULD LIKE TO ADDRESS OUR MAYOR PRO TEM, CITY COUNCIL MEMBERS AND THE BEDFORD RESIDENTS HERE THIS EVENING REGARDING THE BEDFORD COMMONS DEVELOPMENT PLANNED FOR THIS BEAUTIFUL PIECE OF LAND THAT BORDERS IAN BILGER, DON DOTSON AND PARKWOOD, WHICH IS RIGHT NEXT TO THE FIRE DEPARTMENT. AND I THINK IT'S ABOUT 30 ACRES, IF I'M CORRECT. I HAVE BEEN A BEDFORD RESIDENT GOING ON THREE YEARS. I LIVE DIRECTLY ACROSS THE STREET FROM THIS SERENE PIECE OF LAND. IN FACT, I CHOSE THIS PARTICULAR APARTMENT LOCATION BECAUSE OF THE WONDERFUL VIEW. AND NOW YOU WANT TO TAKE IT AWAY. LAST YEAR, WHEN I LEARNED OF THIS UPCOMING DEVELOPMENT, I WAS HEARTBROKEN. THE CITY OF BEDFORD, ALONG WITH DEVELOPERS, ARE PLANNING ON CUTTING DOWN THE BEAUTIFUL TREES AND DISPLACING NUMEROUS WILDLIFE SPECIES, MOST IMPORTANTLY, THE COYOTE. THERE ARE NUMEROUS PACKS OF COYOTES THAT CALL THIS PIECE OF LAND A FOREVER HOME DUE TO ITS THICK BRUSH AND BOUNTY OF TREES. THIS LAND PROVIDES THE COYOTES AND OTHER SPECIES OF WILDLIFE THE SHELTER, FOOD AND WATER IT NEEDS TO SURVIVE. IF YOU TAKE THAT AWAY, YOU WILL HAVE DAMAGED AN ALREADY COEXISTING HABITAT. A HABITAT? I VOW TO DO WHAT IT TAKES TO PROTECT. IF YOU INFRINGE ON THIS HABITAT, BEDFORD RESIDENTS WILL SEE EVEN MORE COYOTES THAN THEY ALREADY DO ROAMING OUR NEIGHBORHOODS. JUST AS YOU REMINDED US IN A JANUARY NEWSLETTER REGARDING COYOTE SIGHTINGS THROUGHOUT BEDFORD AND OTHER SURROUNDING CITIES. IN THIS ARTICLE, THE CITY STATES COYOTES HAVE BEEN AROUND FOR DECADES AND LISTED SOME HELPFUL PRECAUTIONS WHICH WOULD HELP PEOPLE AND COYOTES COEXIST. THIS IS ALL I WANT TO COEXIST WITH. WILDLIFE. DEVELOPING THIS PIECE OF LAND IS A TRAVESTY AND A MISTAKE. BEDFORD ALSO MENTIONS IN THE NEWSLETTER THAT THE CITY'S ANIMAL CONTROL SERVICES IS WORKING CLOSELY WITH THE TEXAS PARKS AND WILDLIFE BIOLOGISTS. [00:35:06] I THINK THAT'S GREAT. BEDFORD WHAT'S THE CONSENSUS? THE PUBLIC WANTS TO KNOW. TODAY, THE COYOTE IS THE MOST PERSECUTED NATIVE CARNIVORE IN THE UNITED STATES. FEDERAL, STATE AND LOCAL GOVERNMENTS AND PRIVATE INDIVIDUALS KILL HUNDREDS AND THOUSANDS OF COYOTES ANNUALLY. MANAGEMENT OF COYOTES IN THE US IS TRADITIONALLY IMPLEMENT IMPLEMENTED FROM THE TOP DOWN. THE FEDERAL GOVERNMENT CARRIES OUT PREDATOR ERADICATION PROGRAMS AT THE STATE AND LOCAL AND LOCAL LEVELS THROUGH COOPERATIVE AGREEMENTS WITH LOCAL GOVERNMENTS. TYPICALLY, COUNTIES THAT CONTRACT WITH WILDLIFE SERVICES RECEIVE FEDERAL MATCHING FUNDS THAT HELP PAY FOR SALARIES AND EQUIPMENT FOR TRAPPERS. THE MATCHING FEDERAL FUNDS PROVIDE INCENTIVES FOR COUNTIES TO CONTRACT WITH WILDLIFE SERVICES. IN SHORT, THE PREDATOR ERADICATION PROGRAM GIVES INDIVIDUALS AND LOCAL, COUNTY AND CITY GOVERNMENTS PERMISSION TO KILL COYOTES BY ANY MEANS NECESSARY. PREDATOR ERADICATION PROGRAMS TARGETED COYOTES AND OTHER PREDATORS HAVE FACED SIGNIFICANT CRITICISM AND OPPOSITION OVER THE YEARS, SO EFFORTS TO RESOLVE HUMAN CARNIVORE CONFLICTS SHOULD START FROM THE BOTTOM UP AT THE COMMUNITY LEVEL. RESEARCH HAS PROVEN THAT COMMUNITY PROGRAMS HAVE A GREATER POTENTIAL FOR CREATING LONG LASTING RESULTS. IN FACT, THE CREATION OF A COMMUNITY BASED PREDATOR MANAGEMENT PROGRAM IN CALIFORNIA'S MARIN COUNTY PROVIDES AN EXAMPLE OF COLLABORATIVE EFFORTS TO DEVELOP COMMON GROUND AMONG A WIDE A WIDE ARRAY OF STAKEHOLDERS. PUBLIC OPPOSITION TO LETHAL CONTROL HAS LED TO GREATER DEMAND FOR HUMANE, SOCIALLY ACCEPTABLE AND ECOLOGICALLY SOUND METHODS FOR HANDLING HUMAN WILDLIFE CONFLICTS. THUS, COLLABORATION AMONG LOCAL GOVERNMENT AGENCIES, WILDLIFE AND CONSERVATION ORGANIZATIONS, ANIMAL PROTECTION GROUPS AND LOCAL COMMUNITIES IS ESSENTIAL TO THE LONG TERM SUCCESS OF ANY WILDLIFE, HUMAN CONFLICT COMMUNITY BASED PROGRAM. SUCH COLLABORATIVE EFFORTS ENSURE THAT AGENCIES AND THE PUBLIC ARE HELD ACCOUNTABLE FOR THEIR ACTIONS, AND THAT ANIMAL WELFARE AND ECOLOGICAL INTEGRITY ARE INTEGRAL FACTORS OF THESE EFFORTS. IN CLOSING, I URGE THE CITY OF BEDFORD AND ITS RESIDENTS TO RALLY AROUND THE IDEA TO IMPLEMENT SUCH A PROGRAM AND LEAVE THIS THIS PIECE OF LAND TO ITS WILDLIFE. IF ANYONE HERE WOULD LIKE MORE INFORMATION ON THE MISSION TO KEEP WILDLIFE WILD, PLEASE VISIT PROJECT COYOTE.ORG OR GOOGLE ANIMAL PROTECTION INSTITUTE. THANK YOU. THANK YOU SO MUCH, MISS DOBLER. I KNOW YOU'RE YOU'RE VERY PASSIONATE ABOUT WILDLIFE. AND THE ONLY PROBLEM IS WITH THAT PROPERTY, IT'S BEEN IN THE WORKS FOR PROBABLY 12 TO 15 YEARS AS FAR AS GOING TO BE DEVELOPED. WOW. AND. UNFORTUNATELY FOR YOUR STANDPOINT, IT PROBABLY WILL GET DEVELOPED IN THE NEXT YEAR OR TWO. BUT IT'S BEEN ON THE BOOKS FOR ABOUT 15 YEARS THAT WE WERE GOING TO DO SOMETHING WITH THAT PROPERTY. AND I APPRECIATE I APPRECIATE YOUR PASSION FOR YOUR COYOTE ISSUE. UNFORTUNATELY, THE CITY REALLY DOESN'T HAVE THE FINANCIAL WHEREWITHAL TO PROTECT SPECIES. WE'RE JUST WE'RE RELATIVELY SMALL CITY. AND EVEN THOUGH WE CARE ABOUT WILDLIFE, WE CAN'T MOVE THEM. WE CAN'T RELOCATE THEM. RIGHT. THEY WOULD HAVE TO STAY PUT. NOW, THEY'LL PROBABLY IF THE DEVELOPMENT DOES GO ON, THEY WILL PROBABLY MOVE THEMSELVES. AND THEN IF THE POSITION IS RIGHT, THEY WILL COME BACK IF THE CONDITIONS ARE RIGHT FOR THEM. BUT I DO APPRECIATE YOUR POSITION. WHERE WILL THEY GO? WELL, WE'VE GOT TONS OF CREEKS HERE, CREEKS EVERYWHERE. SO THEY WILL PROBABLY RELOCATE TO ANOTHER CREEK. AND FROM WHAT I'VE READ, THEY DO COME BACK. YOU KNOW, YOU CAN. THEY'VE TRIED IN THE PAST TO RELOCATE THEM, BUT THEY DO COME BACK EVENTUALLY. BUT WE'RE NOT IN THE BUSINESS OF TAKING CARE OF COYOTES, IS THE PROBLEM. SO. WHAT ABOUT. JIM, COMING INTO OUR NEIGHBORHOODS. I MEAN, YOU GUYS ARE RESPONSIBLE FOR THAT, RIGHT? RIGHT. BUT WE DON'T WE DON'T REALLY POLICE THEM. IN FACT, THERE'S PROBABLY A FEW PEOPLE IN THIS COMMUNITY THAT'S HEAD'S ABOUT READY TO BLOW UP BECAUSE THEY CAN'T STAND COYOTES. THEY'RE THEY THEY'VE ATTACKED ANIMALS, CATS, DOGS AND I. SO THERE'S TWO TWO POSITIONS ON THAT. SO WE DO. BUT WE DON'T GO OUT AND SHOOT THEM. WE JUST WE PUT OUT THE I THINK MOLLY PUT OUT THE INFORMATION THAT SAID THIS IS HOW YOU AVOID COYOTES. THEY DON'T MEAN TO BE PREDATORS TO YOUR ANIMALS, BUT THEY WILL IF THEY'RE HUNGRY. I MEAN, THERE ARE CERTAIN THINGS THAT THEY PUT INTO THAT BEDFORD CONNECTION THAT REALLY CAME HOME FOR ME BECAUSE I THINK THAT'S THE ONLY WAY WE CAN DEAL WITH THEM. SO, OKAY, SO IF YOU ALL ARE WORKING WITH OR IF ANIMAL CONTROL IS WORKING WITH A BIOLOGIST, WHAT [00:40:09] ARE THEY WORKING ON? AS FAR AS THE COYOTES ARE CONCERNED. BECAUSE YOU WON'T SHOOT HIM. I HOPE YOU'RE NOT GOING TO POISON THEM BECAUSE THEY REALLY JUST WORK WITH THE PARKS AND WILDLIFE FOR OUR PARKS. WE'RE NOT REALLY WORKING AS AN ANIMAL. WE'RE NOT WE'RE NOT PROTECTING THE ANIMALS. WE'RE JUST WORKING ON IT FOR THE STANDPOINT OF THE PARKS AND WHAT WE SHOULD HAVE IN THE ANIMAL LIFE. BUT WE'RE REALLY NOT PROTECTING ANY ANIMAL SPECIES PER SE. SO WHAT YOU'RE SAYING IS, YOU'RE PET FRIENDLY BUT NOT WILDLIFE FRIENDLY? TO A CERTAIN DEGREE, BECAUSE WE'RE A CITY. WELL, WE DO THE BEST WE CAN. WE DON'T. WE DON'T ATTACK THEM. WE DON'T KILL THEM. BUT AND WE ALLOW THEM TO LIVE AS MUCH AS POSSIBLE. BUT WE WE DON'T DO ANYTHING SPECIAL TO PROTECT WILDLIFE. WELL, I THINK THAT WOULD BE SOMETHING TO CONSIDER. WELL, WE'LL PUT IT UNDER CONSIDERATION, BUT I DO APPRECIATE YOU COMING TO SPEAK TO US THIS EVENING. WE REALLY DO. OKAY. WELL, THANK YOU. IT BRINGS ANOTHER WHOLE WHOLE DIMENSION TO WHAT WE'RE THINKING. OKAY. THANK YOU. THANK YOU. THANK YOU. I THINK WE HAVE ONE MORE SPEAKER. AMY BENING. IS SHE HERE THIS EVENING? I DON'T THINK SHE IS. OKAY, THEN I GUESS WE JUST NEED TO MOVE ON TO NEW BUSINESS. [8. Public hearing and consider an ordinance regarding a Planned Unit Development Amendment for a hotel development on Lot 3A1 and Lot 3B, Block 1 Bedford Forum Addition. The 1.21 acres site is located northeast of Forum Parkway and Airport Freeway and commonly known as 3029 Airport Freeway. (PUD-22-2) (Item was recommended for denial by the Planning and Zoning Commission by a vote of 7-0-0) ] JIMMY, I THINK WE HAD TO TABLE THIS NEXT ITEM. DO WE NEED A MOTION TO TABLE? YES, MA'AM. BRYNN'S GOING TO GIVE YOU SOME OPTIONS. OKAY, SO WHAT I'D RECOMMEND IS BECAUSE THE PUBLIC HEARING HAS TO BE ADVERTISED AT LEAST 16 DAYS PRIOR, WHAT I WOULD RECOMMEND IS WE OPEN THE PUBLIC HEARING. WE DON'T HAVE TO TAKE ANY COMMENTS THIS EVENING. WE JUST TABLED BOTH THE PUBLIC HEARING AND THE ITEM TO THE NEXT MEETING AND WE WON'T HAVE TO RE ADVERTISE. AND JUST SO EVERYONE UNDERSTANDS THE REASON WE HAVE TO DO THIS OR I'M RECOMMENDING IT, IS THERE'S A NEGATIVE RECOMMENDATION FROM P&Z. AND UNDER STATE LAW, THAT WILL TAKE SIX AFFIRMATIVE VOTES IN ORDER TO OVERRIDE THAT WHICH WE DO NOT HAVE THIS EVENING. OKAY. SO I NEED TO OPEN THE PUBLIC HEARING AND THEN PRETTY MUCH CLOSE IT. NO, WE LEAVE IT OPEN. LEAVE IT OPEN. OKAY. AND THEN WE'D TABLE BOTH THE PUBLIC HEARING AND ACTION ON THE ITEM WITHOUT ACTUALLY TAKING ANY PUBLIC COMMENT. IT'LL JUST BE POSTPONED. I NEED TO OPEN A PUBLIC HEARING ON AND CONSIDER AN ORDINANCE REGARDING A PLANNED UNIT DEVELOPMENT AMENDMENT FOR A HOTEL DEVELOPMENT ON LOT 3A1 AND LOT THREE B BLOCK ONE BEDFORD FORUM ADDITION. THE 1.21 ACRE SITE IS LOCATED NORTHEAST OF FORUM PARKWAY AND AIRPORT FREEWAY AND COMMONLY KNOWN AS 3029 AIRPORT FREEWAY PUD 22-2, ITEM WAS RECOMMENDED FOR DENIAL BY THE PLANNING AND ZONING COMMISSION BY A VOTE OF 7 TO 0. SO WE'VE OPENED THE PUBLIC HEARING AND NOW WE'RE GOING TO TABLE IT. MADAM MAYOR, PRO TEM, I MOVE TO TABLE THE PUBLIC HEARING TO OUR NEXT MEETING. THANK YOU, NICHELLE. DO I HAVE A SECOND? UH OH. I MOVED THE TABLE TO PUBLIC HEARING AND THE CONSIDERING THE ORDINANCE UNTIL OUR NEXT MEETING. OKAY. AND WE HAVE A SECOND, ROB. ROB GAGLIARDI HAS DONE THE SECOND, AND NOW WE NEED TO VOTE. IT'S UNANIMOUS. SO WE HAVE TABLED THAT TILL THE NEXT MEETING. [9. Public hearing and consider a resolution authorizing the City Manager to pursue grant funding from the Tarrant County Community Development Block Grant (CDBG) 49th Year Program for roadway improvements on Phyllis Street, from Brown Trail to east of Dora Street. ] ITEM NUMBER EIGHT. PUBLIC HEARING. AND CONSIDER A RESOLUTION AUTHORIZING THE CITY MANAGER TO PURSUE GRANT FUNDING FROM THE TARRANT COUNTY COMMUNITY DEVELOPMENT BLOCK GRANT CDBG 49TH YEAR PROGRAM FOR ROADWAY IMPROVEMENTS ON PHYLLIS STREET FROM BROWN TRAIL TO EAST OF DORA STREET. AND WE HAVE PUBLIC WORKS DIRECTOR CHERYL TAYLOR. HI, CHERYL. GOOD EVENING. THE CITY'S APPLICATION FOR THE COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM IS FOR THE RECONSTRUCTION OF PHILLIS STREET FROM BROWN TRAIL TO EAST OF DORA AND THE REPLACEMENT OF OUTDATED WATER AND SANITARY SEWER INFRASTRUCTURE. THE PROPOSED PROJECT WILL INCLUDE THE REMOVAL AND REPLACEMENT OF EXISTING DETERIORATED ASPHALT, PAVEMENT CURBS AND GUTTERS ALONG THE LENGTH OF THE PROJECT LIMITS AND WILL TIE INTO THE EXISTING CONCRETE ROADWAY THAT'S EAST OF DORA THAT WAS PREVIOUSLY CONSTRUCTED UP TO RAVENSWOOD DRIVE. THE MAJORITY OF THE PUBLIC WATER AND SANITARY SEWER LINES INSTALLED IN THE 1960S HAVE REACHED THE END OF THEIR USEFUL LIFE AND WILL BE REPLACED WITH EIGHT INCH LINES TO SERVE THE NEIGHBORHOOD. ALL OF THESE ITEMS ARE INCLUDED IN THE SCOPE OF THE PHILLIS STREET PROJECT APPLICATION THAT WAS SUBMITTED TO TARRANT COUNTY ON JANUARY 31ST, 2023. THE PUBLIC HEARING NOTIFICATION AND MINUTES OF THIS COUNCIL MEETING ARE THE REMAINING ITEMS TO BE SUBMITTED FOR A COMPLETE CDBG GRANT APPLICATION. [00:45:03] HERE ARE SOME PHOTOS, EXISTING PHOTOS OF PHYLLIS STREET TODAY. THE PUBLIC MEETING. NOTICE WAS ADVERTISED IN THE FORT WORTH STAR TELEGRAM ON TUESDAY, FEBRUARY 28TH, 2023. PUBLIC HEARING NOTICES WERE MAILED TO PROPERTIES WITHIN 200FT OF FILM STREET ON MONDAY, FEBRUARY 27TH. A TOTAL OF 43 NOTICES WERE SENT TO THE ADDRESSES WITHIN THE BLUE AREA SHOWN ON THE MAP. TWO OF THOSE NOTICES WERE RETURNED FROM PROPERTY MANAGEMENT COMPANIES AND PUBLIC WORKS HAS NOT RECEIVED ANY CALLS FROM PROPERTY OWNERS SINCE THE NOTICE WAS MAILED. SO AGAIN, THE APPLICATION WAS SUBMITTED JANUARY 31ST WITH THE MINUTES OF TONIGHT'S PUBLIC HEARING TO COMPLETE THAT APPLICATION SUBMITTAL. THE REVIEW OF APPLICATIONS WILL HAPPEN IN THE SPRING AND WE ANTICIPATE HEARING BACK ON ON THE AWARD FROM TARRANT COUNTY THIS SUMMER. SO ONCE WE HEAR BACK ON THE AWARD FROM TARRANT COUNTY, WE WILL BRING FORWARD A PROFESSIONAL SERVICES AGREEMENT FOR THE DESIGN OF PHYLLIS STREET. AND CONSTRUCTION WOULD BE ANTICIPATED TO BEGIN NEXT SUMMER, SO SUMMER OF 2024. OKAY. AND WHY PHYLLIS STREET? WHY PHYLLIS STREET? IT IS IN THE AREA. IT IS IN ONE OF THE AREAS THAT IS ELIGIBLE TO BE SUBMITTED FOR FOR THIS PROGRAM. THIS SECTION OF PHYLLIS STREET IS ACTUALLY A SIDE STREET. SO THERE ARE NO NO HOUSES THAT FACE DIRECTLY ON PHYLLIS STREET. AND THERE IS A PIECE OF PHYLLIS CLOSEST TO RAVENSWOOD THAT WAS CONSTRUCTED YEARS AGO IN CONCRETE. THE REST OF IT'S ASPHALT. SO THIS WOULD BE A GOOD OPPORTUNITY FOR US TO COMPLETE THAT THAT CONCRETE SECTION ALL THE WAY TO BROWN TRAIL. THANK YOU. COUNCIL QUESTIONS. DEMARCO. HOW LONG IS THE CONSTRUCTION GOING TO LAST FOR ON PHILLIP STREET ONCE IT STARTS? NO IDEA. WE HAVE NOT CONTRACTED WITH AN ENGINEERING FIRM AT THIS TIME. SO WE ACTUALLY DON'T HAVE ANY DETAILS ON WHAT THAT CONSTRUCTION TIME LOOKS LIKE. WE'LL HAVE A BETTER IDEA OF THAT ONCE WE HAVE DESIGN AND WE BRING FORWARD THAT CONSTRUCTION CONTRACT. MISS DAWKINS. SO WHEN WE ARE READY TO DO THE PROFESSIONAL SERVICES CONTRACT, WILL WE HAVE A SAY OR NEGOTIATION WITH TARRANT COUNTY ON WHAT FIRM WILL BECAUSE THE GRANT COMES FROM TARRANT COUNTY. SO I THINK THE CONCERN IS THAT THE SAME CHALLENGE WE HAD WITH WALTER STREET, WHERE THE COUNTY CAME UP WITH THE CONTRACTOR THAT WORKED ON THE STREET. SO WITH THIS PARTICULAR GRANT, WILL WE HAVE SOME NEGOTIATION OR SAY ON WHAT CONTRACTOR WORKS ON THAT STREET, GETS PAID BY THESE FUNDS? SO THE PROFESSIONAL SERVICES AGREEMENT IS FOR CHOOSING AN ENGINEERING FIRM TO DO THE DESIGN. AND GENERALLY THEY GAVE THEY GIVE US, I THINK, THREE CHOICES AND WE CAN CHOOSE FROM THOSE THREE CHOICES FOR AN ENGINEERING FIRM WHEN IT COMES TIME TO BID THE PROJECT, WE GENERALLY BID THE PROJECT FOR LOWEST WHAT IS IT, LOWEST RESPONSIVE BIDDER? OR WE CAN LOOK AT BEST VALUE SO THAT THERE ARE THERE IS SOME FLEXIBILITY IN CHOOSING A CONTRACTOR BASED ON THE BIDS. OKAY. THANK YOU. ANY OTHER QUESTIONS? MAYOR PRO TEM? YES. IS THIS A ONE TIME CONTRACT? I MEAN A GRANT. IS THERE ANYTHING LEFT IN THE GRANT THAT WE CAN USE ON OTHER STREETS, OR IS THIS A THIS IS IT FOR TWO MORE YEARS? THIS IS IT. EACH TIME THAT YOU SUBMIT AN APPLICATION FOR A GRANT, YOU HAVE TO BE SPECIFIC ABOUT WHAT YOU WANT IT FOR. WE HAVE TO TELL THEM THE LIMITS OF OF THE IMPROVEMENTS AND EVERYTHING THAT'S INCLUDED IN THOSE LIMITS. SO IN THIS ONE, IT'S THE RECONSTRUCTION OF THE ROAD AND IT DOES INCLUDE THE WATER AND SEWER. SO WE WOULD WAIT TWO MORE YEARS BEFORE WE COULD GET ANOTHER GRANT. EVERY OTHER YEAR. EVERY OTHER YEAR THERE'S AN APPLICATION PROCESS AND THEN EVERY OTHER YEAR FROM THAT IS CONSTRUCTION OF EXCUSE ME, CONSTRUCTION OF THE PROJECTS THAT ARE CHOSEN. OKAY. THANK YOU. CHERYL, IS THERE ANY WAY THAT THIS GRANT WOULD BE REFUSED? THERE IS A SCORING MATRIX FOR THE APPLICATION. SO I SUPPOSE THERE IS A POTENTIAL FOR US NOT GETTING ANY MONEY. IT'S. FROM WHAT I KNOW OF HISTORICALLY IN BEDFORD, WE HAVE RECEIVED FUNDS THROUGH THIS APPLICATION THE PAST SEVERAL YEARS THAT BEDFORD HAS APPLIED. OKAY. THANK YOU. ANYBODY ELSE? OKAY. THANK YOU, CHERYL. UM. I GUESS. I SEE. DO WE NEED TO TAKE A OKAY. SO WE NEED A MOTION. WE NEED A PUBLIC HEARING. PUBLIC HEARING. OKAY. TO OPEN A PUBLIC HEARING. OKAY. OPEN A PUBLIC HEARING TO CONSIDER A RESOLUTION AUTHORIZING THE CITY MANAGER OR DESIGNEE TO ENTER. NOPE, NOPE, NOPE, NOPE. I GOT THE WRONG ONE. [00:50:02] PUBLIC HEARING AND CONSIDER RESOLUTION AUTHORIZING THE CITY MANAGER TO PURSUE GRANT FUNDING FROM THE TARRANT COUNTY COMMUNITY DEVELOPMENT BLOCK GRANT 49TH YEAR PROGRAM FOR ROADWAY IMPROVEMENTS ON PHYLLIS STREET FROM BROWN TRAIL TO EAST OF DORA STREET. DO WE HAVE ANYBODY HERE TO SPEAK ABOUT THIS? DOES NOT APPEAR TO BE SO. ANY COUNSEL QUESTIONS. OKAY, I'M GOING TO CLOSE THE PUBLIC HEARING. ANY OTHER QUESTIONS? OKAY, NOW WE TAKE THE MOTION. HEY. OKAY. OKAY. MR. FARGO IS GOING TO MAKE THE MOTION. DO WE HAVE A SECOND? MR GAGLIARDI IS DOING THE SECOND. OF COURSE HE IS. AND WE NEED A VOTE. AND IT'S UNANIMOUS ONCE AGAIN. THANK YOU, CHERYL. AND NOW UP NEXT IS MS. RIGGS, ASSISTANT CITY MANAGER, CONSIDER A RESOLUTION APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION SERIES 2023 INCHES THE PRINCIPAL AMOUNT, NOT TO EXCEED 4,700,000 FOR THE PURPOSE OF PAYING FOR STREET PARKS, GREEN SPACE AND WATER SEWER IMPROVEMENTS. I SKIPPED NUMBER TEN THIS EVENING IS GETTING AWFULLY LONG. OKAY. SORRY, KAREN. OKAY. SO CONSIDER A RESOLUTION AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO ENTER INTO AGREEMENT WITH JPMORGAN CHASE BANK NA TO PROVIDE [10. Consider a resolution authorizing the City Manager or his designee to enter into an agreement with JPMorgan Chase Bank, N.A. to provide depository and related banking services to the City of Bedford from May 1, 2023 through April 30, 2026, with an option for two one-year renewal options. ] DEPOSITORY AND RELATED BANKING SERVICES TO THE CITY OF BEDFORD FROM MAY 1ST, 2023 THROUGH APRIL 30TH, 2026, WITH AN OPTION FOR TWO ONE YEAR RENEWAL OPTIONS. THANKS, KAREN. BET. ABSOLUTELY. SO, YES, WHAT WE HAVE BEFORE YOU TONIGHT IS A BANK DEPOSITORY AGREEMENT. SO WE ARE IN THE SECOND YEAR OF OUR INITIAL TERM WITH AMERICAN NATIONAL BANK. AND WE DECIDED BACK IN THE FALL WITH JUST THE WAY THE RATES WERE CHANGING IN THE MARKET, IT WAS PROBABLY A GOOD TIME TO SEE WHAT DEPOSITORY SERVICES WERE OUT THERE. SO WE WENT WE USED VALLEY VIEW AS THEY HELPED US THROUGH THIS PROCESS AND WE WENT THROUGH A DEPOSITORY RFA REALLY, REALLY EXCITING. AND JIMMY LAUGHED AT ME WHEN I KIND OF NERDED OUT IN HIS OFFICE ABOUT IT BECAUSE WE HAD SIX BANKS RESPOND, WHICH IS PRETTY PHENOMENAL. THAT'S A LOT OF BANKS THAT REALLY WANTED TO DO BUSINESS WITH THE CITY. SO WE ANALYZED EVERY EVERYTHING THAT THEY GAVE US. WE LOOKED THROUGH ALL OF THEIR RATES, THE SERVICES THEY PROVIDED, AND WE NARROWED IT DOWN TO TWO BANKS, WELLS FARGO AND JP MORGAN. AND THEN WE DID DEMOS WITH THOSE BANKS. WE WANTED STAFF TO SEE WHAT SERVICES, WHAT THEIR ONLINE BANKING PORTAL LOOKED LIKE, WHAT THEIR LOCKBOX FEATURES WERE, THINGS LIKE THAT. AND SO AT THE END OF THOSE DEMOS, STAFF UNANIMOUSLY WANTED TO GO FORWARD WITH CHASE. AND SO THAT'S WHAT WE HAVE BEFORE YOU TONIGHT IS A BANKING DEPOSITORY AGREEMENT WITH JP MORGAN CHASE. IT'S A THREE YEAR AGREEMENT WITH TWO OPTIONAL ONE YEAR RENEWALS. AND WE STARTED LIKE I SAID, WE STARTED THIS PROJECT. I CAN'T SPEAK. WE STARTED THIS IN OCTOBER. WE DO HAVE A PRESENTATION THAT VALLEY VIEW HAS PUT TOGETHER. IF YOU WANT MORE INFORMATION ABOUT WHAT THIS PROCESS LOOKS LIKE, HE'D BE HAPPY. TIM WOULD BE HAPPY TO COME UP AND DO A PRESENTATION FOR YOU. I'LL TELL YOU WHAT, KAREN, THAT CHART WAS REALLY FABULOUS. IT WAS A FABULOUS CHART. VALLEY VIEW DID THAT CHART. I'LL GIVE THEM CREDIT. THEY GAVE US EVERYTHING WE NEEDED TO KNOW. AND THERE WAS I HAVE NO QUESTIONS BECAUSE OF HOW DOES COUNCIL HAVE ANY QUESTIONS? IS THIS A PUBLIC HEARING? NO. OKAY. OKAY. I'M SO SORRY. THIS IS JUST A TOUGH NIGHT FOR ME. OKAY. ANY QUESTIONS? ANY QUESTIONS? COUNCIL. OKAY, THEN NOW WE GO FORWARD AND I THINK. MR GAGLIARDI COUNCILWOMAN. MICHELLE DAWKINS HAS THE MOTION. AND SECOND BY MR GAGLIARDI. AND NOW WE NEED TO VOTE. IT'S UNANIMOUS. I WOULD BE SHOCKED IF IT WASN'T. THANKS, KAREN, BECAUSE I KNOW IT WAS A LOT OF WORK, BUT YOU'RE KIND OF A NERD, SO THAT'S GOOD. YOU DID A FINE JOB. BUT I DID LOVE THAT CHART. I REALLY LOVED THAT CHART. OKAY. OKAY. [11. Consider a resolution approving and authorizing publication of notice of intention to issue certificates of obligation, Series 2023, in the principal amount not to exceed $4,700,000, for the purpose of paying for street, parks/greenspace and water/sewer improvements. ] NOW THAT WE'RE ON ITEM NUMBER 11, KAREN IS UP AGAIN. CONSIDER RESOLUTION APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION SERIES 2023 IN THE PRINCIPAL AMOUNT NOT TO EXCEED 4.700 THOUSAND FOR THE PURPOSE OF PAYING FOR STREET PARKS, GREEN SPACE, WATER, SEWER IMPROVEMENTS. KAREN, GOOD EVENING. I'D ACTUALLY LIKE TO WELCOME BRADY OLSEN, OUR NEW DIRECTOR OF FINANCE, UP AND LET HIM PRESENT THIS ITEM TO YOU GUYS TONIGHT. THANK YOU. NICE TO HAVE YOU. BRADY I'M GLAD YOU'VE JOINED US. THANK YOU. I'M VERY HAPPY TO BE HERE. THIS ITEM WILL KICK OFF THE PROCESS FOR FUNDING THE CAMPUS WEST PROJECT. [00:55:01] THIS IS LETTING THE PUBLIC KNOW THAT IN MAY THE COUNCIL IS GOING TO CONSIDER AN ITEM TO ISSUE DEBT TO FUND THAT PROJECT PROJECT. SO WE WANT TO GIVE THEM PLENTY OF TIME TO WEIGH IN IF THE PUBLIC HAS ANY OPINIONS ON IT. TIM MENTIONED THAT THE RATES DID FALL EARLIER THIS WEEK, SO THAT MAY BENEFIT THE CITY. THE INVESTMENTS LOOK WORSE, BUT THE DEBT RATE LOOKS A LOT BETTER. SO HOPEFULLY THAT STANDS FOR THE NEXT COUPLE OF MONTHS AND THE CITY WILL HAVE A SUCCESSFUL SALE. ANY QUESTIONS? THAT WAS QUICK. ANYBODY RICH? DO YOU HAVE ONE? ANYBODY. OKAY, WELL, THAT WAS SO SIMPLE FOR YOUR FIRST TIME AT THE MICROPHONE. I APPRECIATE IT. I'M HAPPY FOR YOU. I'M SO HAPPY FOR YOU. OKAY, SO WE NEED A MOTION. OKAY. MR GAGLIARDI HAS IT. AND SECOND WILL BE MR. STEVES. AND WE SHALL VOTE. OH, SORRY. THAT ONE'S NOT SHOWING. OH, THERE, THERE. OKAY. THE GREENS HAVE IT. YES. IT PASSED UNANIMOUSLY. THANK YOU SO MUCH. COUNCIL. [12. Consider a resolution authorizing the City Manager or his designee to execute a professional services contract with Promoter Line, Inc. for professional event production and planning services for the 2023 Signature Event in an estimated amount of $340,050. ] OKAY. NUMBER 12. CONSIDER RESOLUTION AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE A PROFESSIONAL SERVICE CONTRACT WITH PROMOTER LINE, INC. FOR PROFESSIONAL EVENT PRODUCTION AND PLANNING SERVICES FOR THE 2023 SIGNATURE EVENT IN AN ESTIMATED AMOUNT OF $340,050. THANK YOU, MADAM PRO TEM SABOL. IT'S TOUGH. VERY WORDY TONIGHT. GOOD EVENING, COUNCIL. I AM ACTUALLY GOING TO SLOW THIS MEETING DOWN QUITE A BIT NOW, SO IF WE CAN. SO NO, I AM EXCITED TO BE HERE TONIGHT BRINGING THIS ITEM TO YOU. IT SEEMS THAT THIS IS, I THINK, THE SECOND TIME I'VE SPOKEN BEFORE YOU AND THEY'RE ALL PRETTY. WHAT I THINK ARE EXCITING ONE WAS A PLAYGROUND. NOW WE HAVE A PROFESSIONAL SERVICES CONTRACT THAT I'M BRINGING TO YOU. SO HOPEFULLY YOU SEE IT THE SAME WAY I DO WITH WITH PROMOTER LINE. SO OBVIOUSLY COUNCIL APPROVED BACK IN JANUARY ON THE 24TH THE STRATEGIC PLANNING SESSION GOALS, ONE OF THEM BEING THE SIGNATURE SPECIAL EVENT TO BRING IT BACK AND TO KIND OF MOVE FORWARD WITH DEVELOPING THE DETAILS OF THAT. I CAN TELL YOU SINCE THE 24TH, I AND STAFF HAVE BEEN WORKING DILIGENTLY ON THE DETAILS OF A SIGNATURE SPECIAL EVENT. SO MOST FESTIVALS, THE SIZE OF THE ONE WE ARE PROPOSING AND BEDFORD DOESN'T THINK SMALL, WE THINK LARGE. SO THIS IS GOING TO BE A LARGE EVENT, TAKE BETWEEN 8 AND 10 MONTHS, SOMETIMES LONGER TO GET TOGETHER. THE DATE THAT WE ARE PROPOSING, OUR EVENT IS WITH ABOUT SIX MONTHS AWAY. SO I DON'T SAY THAT TO PUT ANY FEAR IN COUNCIL OR ANY RESIDENTS EYES. IT'S JUST TO TELL YOU THAT WE ARE UP TO THE CHALLENGE AND WE'RE LOOKING FORWARD TO MOVING THIS ALONG AND HAVING A GREAT SPECIAL EVENT. I THINK YOU WILL BE PROUD. I THINK THE CITIZENS WILL BE VERY PROUD OF THE EVENT THAT WE WILL PUT TOGETHER BECAUSE OF THE TIMING, THE ANTICIPATED SIZE, THE SCOPE OF WHAT WE ARE WANTING TO DO. I DID KIND OF TALK TO THE CITY MANAGER, JIMMY AND ASSISTANT CITY MANAGER KAREN RIGGS, ABOUT ENGAGING A COMPANY TO HELP US WITH THIS. I DID. WE DID MEET WITH THEM IN LATE JANUARY TO KIND OF GO OVER THE DETAILS AND TO SEE IF THEY WERE AVAILABLE, NUMBER ONE, AND IF THEY WOULD BE WILLING TO ASSIST US. I AM HERE BEFORE YOU TONIGHT. THEREFORE THEY ARE INTERESTED. SO WE WILL BRING THAT. WE STARTED TALKING ABOUT THE DETAILS OF THE AGREEMENT, WHICH IS BEFORE YOU TONIGHT AND HOPEFULLY YOU'VE BEEN ABLE TO SEE THAT. I'M GOING TO GO THROUGH MY NOTES PRETTY QUICK BECAUSE I THINK WE ALL WANT TO KIND OF GO HOME. SO SOME OF THE REASONS I ENGAGE THEM, OBVIOUSLY I WON'T GO BACK OVER THE TIME AND I DO HAVE AT LEAST TWO MORE TIMES WHERE I'M GOING TO TALK ABOUT THE TIME THAT WE HAVE TO PULL THIS EVENT OFF. BUT REALLY, WHEN I LOOK AT A STAFFING STANDPOINT, BLUESFEST WAS OUR PREVIOUS ONE. THAT'S THE LAST TIME I'LL PROBABLY BRING IT UP, BUT WE HAD MORE STAFF DEVOTED TO THAT FULL TIME STAFF. WE ACTUALLY, WITH THE BRICK BEING OPEN, WE WERE ABLE TO UTILIZE FOUR FULL TIME STAFF MEMBERS FROM THAT LOCATION AS WELL AS ABOUT 8 TO 10 PART TIME STAFF THAT SUPPORTED THE EVENT. EXCUSE ME. WHEN YOU LOOK AT THE PROFESSIONAL SERVICES COST, WHICH IS $45,000, THAT IS ABOUT THE PRICE OF ONE FULL TIME STAFF MEMBER WITH PROMOTER LINE, INC. THEY ARE GOING TO PROVIDE TO THIS EVENT FIVE FULL TIME STAFF MEMBERS THAT WILL BE WITH US FROM EXECUTION. IF WE DO EXECUTE THE CONTRACT THROUGH AFTER THE EVENT TO MAKE SURE EVERYTHING WENT WELL. [01:00:03] PROMOTER LINE HAS A TREMENDOUS REPUTATION IN THE INDUSTRY OF ORGANIZING REALLY, REALLY WELL MANAGED EVENTS AND THEY ARE WELL KNOWN THROUGHOUT THE DFW METROPLEX. THEY ALSO DO SEVERAL EVENTS NATIONWIDE, SO THEY DO HAVE A GREAT REPUTATION. EXCUSE ME, I'VE GOT KAREN'S VOICE. I DIDN'T EVEN MEET WITH HER TODAY, SO BUT WE'RE EXCITED ABOUT THAT. PROMOTER LINE DOES HAVE A RELATIONSHIP WITH THE CITY OF BEDFORD. THEY DID OVERSEE THE BLUES FEST BACK IN THE EARLY 2000S WHEN IT WAS KIND OF IN ITS INFANCY, I BELIEVE. AND THEY'VE ALSO ASSISTED WITH FOURTH FEST, SO THEY'RE VERY FAMILIAR WITH WITH THE CITY AND THE EVENTS THAT WE WE DO. PROMOTER LINE IS GOING TO HANDLE MOST ASPECTS OF ORGANIZING AND MANAGING THE EVENT. THE EXCEPTION TO THIS WILL BE SPONSORSHIPS, TRANSPORTATION AND THE MANPOWER. ON THE DAY OF THE EVENT, I'D LIKE TO SAY THEY HANDLE PRETTY MUCH EVERYTHING WITHIN THE FENCES AND THEN WE KIND OF HANDLE SOME IN THE FENCES AND ANYTHING THAT HAPPENS OUTSIDE OF THE FENCES. SO WE WILL HANDLE THOSE THINGS. A COUPLE OF DETAILS OF IT. HOPEFULLY YOU'VE BEEN ABLE TO SEE THIS, BUT THEY WILL SECURE THE NATIONAL ACT. I'M HAPPY TO SAY THAT THEY HAVE SECURED IT. UNFORTUNATELY, I'M NOT GOING TO BE ABLE TO DROP THAT ON Y'ALL TONIGHT AS WE'RE WORKING THROUGH A COUPLE OF THINGS RIGHT NOW WITH THE AGENTS FOR THE NATIONAL ACT. BUT THEY WILL ALSO HANDLE THINGS, YOU SAY. SURE. SUNNY. SUNNY ONE SO BUT THEY WILL HANDLE THINGS LIKE THE BANDS RIDERS. THEY WILL HANDLE CATERING, TRANSPORTATION, HOTELS, BASICALLY THE LOGISTICS ASSOCIATED WITH EVERY BAND, THE MAIN BAND. PLUS THEY WILL ALSO GET SOME OF THE SECONDARY ACTS THAT WE HAVE COMING. AND WE DON'T HAVE ALL THOSE RIGHT NOW, BUT WE ARE WORKING ON THAT AND I'VE HAD SOME SUGGESTIONS ON A FEW OF THEM THAT WE'RE WE'RE GOING TO TRY TO WORK THROUGH AS FAR AS LOGISTICS OF THE ACTUAL EVENT. THEY'RE GOING TO COORDINATE PRETTY MUCH EVERYTHING. STAGE STAGE HANDS, SECURITY FOR THE STAGE, STAGE, SOUND STAGE LIGHTS. AND MY LIST GOES ON AND ON AND ON. I SAY THIS TO SAY THAT THEY THEY ARE HANDLING A GOOD MAJORITY OF THE EVENT FOR THE TOWN FOR THAT PRICE PROMOTER LINE WILL BE PAID AND NOT TO EXCEEDS AMOUNT OF 45,000 FOR THEIR PROFESSIONAL SERVICES. THIS WILL BE DONE IN EIGHT MONTHLY PAYMENTS OF 5625, AND THAT WILL BEGIN AT THE EXECUTION OF THE AGREEMENT. THEY WILL ALSO MANAGE THE EVENT FUNDS BUDGET IN AN ESTIMATED TOTAL OR ESTIMATED AMOUNT OF $295,050, AND THAT WILL BE DONE IN SEVEN MONTHLY PAYMENTS OF 42,150. AND I'LL JUST KIND OF EXPLAIN LETTING PROMOTER LINE MANAGE THE EVENT FUNDS ALLOWS THEM TO USE THEIR PREFERRED PRICING WITH ALL THE VENDORS THAT THEY HAVE RELATIONSHIPS WITH, AND IT WILL ALSO ALLOW THEM TO CONTINUE TO MOVE FORWARD WITHOUT CONTINUALLY COMING BACK TO THE CITY TO GET PAYMENT FOR ALL THE MANY THINGS THAT ARE LISTED IN THE AGREEMENT. PARKS AND REC STAFF FINANCE STAFF WILL MEET WITH PROMOTER LINE REGULARLY TO GO OVER THE BUDGET TO MAKE SURE WE'RE IN LINE. WE'RE MEETING KIND OF SOME TARGETS AND THINGS LIKE THAT. AND THEN OF COURSE, THE NECESSARY FUNDS TO HOST THIS EVENT. WERE APPROPRIATED IN THE FY 2223 BUDGET PROCESS AND APPROVED BY THIS COUNCIL. I'M GOING TO STOP THERE AND LET YOU ASK ANY QUESTIONS THAT YOU MIGHT HAVE. THANK YOU, MARK. YEAH, WHAT IS IT? I KNOW WE'RE TRYING TO DO THIS ON A HIGH LEVEL. DOES IT HAVE A NAME? SO AFTER MY QUESTIONS, I WAS GOING TO KIND OF GO INTO SOME OF THE DETAILS THAT I COULD PROVIDE TONIGHT. ONE QUESTION THAT IS ONE OF THOSE THINGS THAT THAT WE HAVE KIND OF A LIST OF NAMES THAT WE'RE WORKING THROUGH RIGHT NOW. I DON'T HAVE ANYTHING TO ANNOUNCE TONIGHT. OH, OKAY. SO REALLY, THIS CONTRACT KIND OF ALLOWS US TO DO SOME THINGS AND MOVE FORWARD. NOTHING TO DO WITH THE NAME, BUT JUST SECONDARY TO THAT, WE'RE WITH THIS CONTRACT IN PLACE, WE CAN WE CAN START MOVING IT KIND OF SOME LIGHT SPEED. AND SO IT'S YOUR OPINION THAT EVERYTHING ON THE INSIDE OF THE FENCE, THE EMPLOYEES WILL NOT HAVE TO HAVE ANYTHING TO DO WITH. NOT NECESSARILY. SO WE WILL WE WILL GET WITH EVERY DEPARTMENT THAT MAY HAVE SOMETHING TO DO WITH THAT EVENT. PUBLIC SAFETY, POLICE, FIRE, PARKS AND RECREATION. OBVIOUSLY, THEY WILL DO THE NORMAL THINGS THAT THEY WOULD DO. SO POLICE WOULD DO THE KIND OF THE SECURITY WITHIN THE FESTIVAL SITE. THEY WOULD NOT. AND I THINK DURING OUR PREVIOUS FESTIVAL, POLICE WERE RESPONSIBLE FOR ACTUALLY THE GATES LEADING INTO THE STAGE. SO THEY WILL NO LONGER BE RESPONSIBLE FOR THAT. WE WILL USE A PRIVATE SECURITY COMPANY. [01:05:02] THAT PROMOTER LINE WILL ENGAGE. WE WILL OBVIOUSLY STILL PAY FOR THAT WITHIN THE BUDGET THAT WE HAVE, BUT THAT KIND OF FREES THEM UP TO TO KIND OF RUN SECURITY AND DO WHAT THEY NORMALLY DO FOR OUR SPECIAL EVENTS WHERE THEY HAVE THE BIKE PATROL OUT THERE. WE WOULD PROBABLY HAVE THEM AT THE MAIN GATES LEADING INTO THE FESTIVAL TO HANDLE SECURITY. AND THEY DON'T THEY WANT TO DO BAG CHECKS, BUT THEY WOULD BE A SECONDARY LINE IN CASE THEY WERE NEEDED. ONE OF THE PROBLEMS WE HAD WITH THE BLUES FEST IS THAT WE NEVER HAD ANY GOOD RECORD KEEPING ON HOW MANY ATTENDED, WHAT WERE OUR COSTS. SO IS THAT ARE THEY GOING TO TAKE CARE OF THAT FOR ALL OF US SO THAT WE'LL KNOW HOW MANY ACTUALLY ATTENDED THE EVENT AND WHETHER IT WAS WORTHWHILE AS FAR AS AN EVENT FOR THE CITY OF BEDFORD. SO WE WILL DISCUSS THOSE WITH THEM. THE NUMBERS. I'M GOING TO PROPOSE SOMETHING A LITTLE CRAZY. MAYBE, MAYBE NOT CRAZY, BUT WITH THE PREVIOUS EVENT, BECAUSE IT WAS TICKETED, I THINK THEY HAD THE ABILITY TO GET A REALLY CLOSE NUMBER. THIS EVENT, I'M NOT GOING TO PROPOSE THAT WE CHARGE A FEE TO GET IN. I THINK THAT IS A LEVEL OF ENTRY INTO IS A BARRIER. AND I THINK YOU WOULD SEE LOWER NUMBERS. I DO THINK PROVIDING IT AS A I LIKE TO USE THE WORD SERVICE TO THE CITIZENS. WE LIKE TO PROVIDE THINGS FOR THE SERVICE FOR THE CITIZENS. AND I THINK CHARGING TO GET IN IS GOING TO LOWER OUR NUMBERS. AND I'VE HAD THAT CONVERSATION WITH PROMOTER LINE AS WELL. AND THEY WERE THEY WERE ABSOLUTELY. IT WILL IT WILL LOWER YOUR NUMBERS. SO THE IDEA IS IT'S REALLY NOT A REVENUE TYPE EVENT. IT'S MORE OF A CITYWIDE. WE'RE GOING TO HAVE A PARTY. WE'RE GOING TO HAVE A PARTY. IT'S A GOOD WAY TO PUT IT. AND. BUT YOU'VE GOT VENDORS, CORRECT? FOOD VENDORS, DIFFERENT TYPES OF VENDORS, ALL ON THE INSIDE OF THE FENCE. SO DO THEY GIVE A KICKBACK OR IS THERE ANYTHING SO THERE WILL BE SOME REVENUE FROM FROM SPONSORSHIPS. NUMBER ONE, STAFF WILL BE RESPONSIBLE FOR GOING OUT AND GETTING THOSE AND HOPEFULLY WE CAN GET SOME HIGH DOLLAR ONES. SO THEY DON'T WE HAVE TO GET THE SPONSORS. WE WILL HAVE TO GET THE SPONSORS. PROMOTER LINE WILL NOT DO THAT FOR US. BUT WE WANT TO HAVE THAT RELATIONSHIP WITH WHOEVER IT MIGHT BE. I WON'T THROW ANY NAMES OUT THERE, BUT WE WILL CONTACT THEM. VENDORS WILL HAVE THEY WILL BE CHARGED TO BE THERE. YOU'LL HAVE BUSINESS VENDORS, YOU'LL HAVE FOOD VENDORS. THEY WILL THEY'LL PAY TO BE THERE. WE'LL ALSO WORK A DEAL WITH THE BEVERAGE COMPANY TO TO DO A REVENUE SPLIT WITH WITH THEM. SO THERE'S SOME REVENUE TO TELL YOU TONIGHT WHAT THAT REVENUE WOULD BE IS IS ON A $300,000 EVENT. IT MAY BE A THIRD OF THAT POTENTIALLY BE OKAY. AND THAT'S JUST A GUESS. ABSOLUTELY. IT'S A GUESS. OKAY. BUT I WANT TO JUST BASED ON MY EXPERIENCE WITH SPECIAL EVENTS, I CAN I CAN OVERLAY POTENTIALLY SOME OF THOSE. THE ONLY REASON YOU'RE FENCING IT THEN IS BECAUSE YOU HAVE A SECURITY CONCERN. IT'S MORE ABOUT THE TABC REQUIREMENTS FOR ALCOHOL SALES. YES. AND SO YOU WOULD FENCE GENERATIONS PARK? NOT ALL OF IT. WE WOULD WE WOULD THERE WOULD BE A VERY SPECIFIC AREA THAT WE WOULD THAT WE WOULD. AND WHAT'S YOUR WHAT'S YOUR HOPE THAT WE WILL GET IN ATTENDANCE? MY HOPE YEAH. REALISTICALLY I WOULD THINK. 20 TO 25,000. AND THAT'S A ONE DAY EVENT. AND THIS IS A ONE DAY EVENT. AND THIS I'M WE'RE GOING TO MOVE FORWARD THIS YEAR BECAUSE OF THE TIMING AND THINGS LIKE THAT. I'VE BASICALLY REQUESTED THAT WE DO A ONE YEAR AND IT MAY BE A ONE YEAR MOVING FORWARD. THAT MAY BE WHAT WORKS HERE. I ALSO WANT TO SAY THAT WE DO WANT TO USE THE LABOR DAY WEEKEND, SATURDAY FOR THIS EVENT. I THINK HAVING IT TIED TO A HOLIDAY, A THREE DAY WEEKEND, IS GOING TO BENEFIT US IN MORE WAYS THAN ONE. I THINK. I THINK THE TENANTS WILL BE INCREDIBLE. I THINK ALCOHOL SALES, LET'S JUST CALL IT BEVERAGE SALES. I THINK WE WILL WE WILL BENEFIT FROM THAT. I THINK WE WILL REALIZE SOME REVENUE FROM THAT AND IT GIVES EVERYONE A THREE DAY WEEKEND. THEY CAN COME TO BEDFORD, THEY CAN HEAR SOME REALLY GOOD MUSIC, HANG OUT WITH SOME REALLY COOL PEOPLE, AND THEN THEY HAVE SUNDAY AND MONDAY OFF AND I THINK I WANT TO SEE HOW THAT WORKS AND I HOPE IT I DO BELIEVE IT WILL WORK. I REALLY DO. I THINK IT'S GOING TO BE WILDLY SUCCESSFUL. I REALLY DO. THANK YOU. COUNCIL. HAVE SOME QUESTIONS? SURE. OKAY. SO HOW MUCH IN YEARS PAST HAVE WE SPENT? NOT INCLUDING LAST YEAR BECAUSE THAT WAS ZERO. SO BUDGETED FOR THIS AND I CAN ONLY GO BACK TO A FEW YEARS BUDGETED, I BELIEVE IT WAS $475,000 AND I BELIEVE. [01:10:07] IT WAS PRETTY CLOSE TO THAT. I THINK THEY SPENT THE BUDGETED AMOUNT. ALL RIGHT. THAT'S WHAT WE HAD BUDGETED. SO THIS IS ABOUT $130,000 UNDER WHAT COUNCIL APPROVED IN THE BUDGET. OKAY. ANYBODY ELSE GOT ANY? OKAY, MR. PARCO, SOME MORE. THERE WE GO. I UNDERSTAND. WE'RE NOT GOING. WE'RE JUST GOING TO LET ANYBODY COME. AND THAT'S GREAT. BUT AS FOR MOTEL AND HOTEL, THIS IS COMING FROM MOTEL HOTEL TAX, ISN'T IT? CORRECT. YES. OKAY. SO ARE WE DOING OR DO WE ARE DOING ANYTHING FOR PEOPLE THAT COME INTO THE HOTELS TO MAKE SURE? BECAUSE I COME TO A HOTEL FOR THIS EVENT, IT'S A FREE EVENT AND THE GATES ARE CLOSED BECAUSE THERE'S NO AVAILABILITY. AND. WHAT WE'RE DOING ANY VIPS FOR OUR PEOPLE THAT ARE STAYING IN OUR HOTELS FOR THIS EVENT. WE HAVE NOT DISCUSSED THAT. NO, WE HAVEN'T GOTTEN THAT FAR. WHAT DO YOU MEAN NO AVAILABILITY? WELL, I MEAN, WE'RE OPENING IT UP TO EVERYBODY. AT SOME POINT IN TIME, WE MAY BE AT CAPACITY, IF POSSIBLE, AT THE PARK. I MEAN, YOU DON'T WANT TO OVER. BUT WE HAVE PEOPLE THAT DON'T COME THAT ARE PART OF OUR SPONSORS. THEY'RE GOING TO BE SOME KIND OF PACKAGE FOR OUR SPONSOR PEOPLE OR FOR OUR HOTELS IF YOU'RE STAYING IN OUR HOTELS. MR STATHATOS. OKAY. WELL, I THINK AND MAYBE THAT'S SOMETHING WE NEED TO TALK ABOUT PHILOSOPHICALLY, BUT THE WAY WE LOOK AT IT IS, YOU KNOW, THIS IS A BENEFIT TO THE RESIDENTS. AND THE MORE PEOPLE THAT CAN COME, THE MORE THAT THE CITY IS GOING TO MAKE THROUGH MANY DIFFERENT WAYS. FIRST OF ALL, THROUGH ALCOHOL SALES, WE'RE GOING TO BE ABLE TO GET BETTER VENDORS BECAUSE THEY KNOW THERE'S GOING TO BE MORE BUSINESS. BUT ALSO, I THINK THERE'S A FEELING THAT THE RESIDENTS ARE GETTING SOMETHING EXTRA BACK. AND IT'S ALSO GOING TO GIVE A LOT OF NOTORIETY TO THE CITY. YOU KNOW, WE HAVEN'T TALKED ABOUT VIP SECTION. AND CANDIDLY, I'LL JUST BE HONEST, FROM MY EXPERIENCE FROM CITIES AND I'VE WORKED WITH PROMOTER LINE AND OTHER CITIES AS WELL, BUT NOT JUST WITH PROMOTER LINE. VIP TYPICALLY CREATES ISSUES BETWEEN OTHER PEOPLE THAT ARE NOT INCLUDED, ALMOST LIKE THE HAVES AND THE HAVE NOTS. AND SO WE CAN DEFINITELY ADVERTISE WITH THE HOTELS. BUT WE I DEFINITELY DON'T THINK THAT WE SHOULD DO ANY TYPE OF VIP SECTION OR ANYTHING TO DIFFERENTIATE RESIDENTS THAT MAY OR MAY NOT HAVE SOME, YOU KNOW, WHATEVER. BUT AGAIN, I THINK IT'S GOING TO BE AN INCREDIBLE EVENT. AND I THINK THERE'S A LOT OF EVENTS THAT WE SHOULD LOOK AT, A LOT OF COST RECOVERY. FOR ME, I LOOK AT THIS AS AN INVESTMENT, ESPECIALLY THE FIRST YEAR WITH THE PARK, AND I DO LOVE THE IDEA OF HAVING A ONE DAY EVENT. I MEAN, THE HIGH MAJORITY OF CITIES DO ONE DAY EVENTS FOR MANY DIFFERENT REASONS. BUT ANYWAY, I JUST WANTED TO ADDRESS THAT COMMENT. YOU HAVE ANY FURTHER QUESTIONS? OKAY. MR. STEVES. DO YOU HAVE ANY MS.. DAWKINS. YOU'RE GOOD. OKAY. WELL, THAT WAS EASY, MR. LONG. YOU DID VERY WELL. THANK YOU. I CUT OUT HALF OF IT, SO. I'M SORRY. I'M KIDDING. I'M KIDDING. I'M JOKING. THAT WAS GOOD. WE'LL BE GLAD TO HEAR WHAT THE NAME OF IT IS. YES. AND EVERYTHING ABOUT IT IN THE NEAR FUTURE. AND I KNOW I HAVE BEEN ASKED TO COME AND REPORT MORE IN MORE DETAIL, UNFORTUNATELY, TONIGHT. I WISH I COULD HAVE GIVEN YOU A LITTLE BIT MORE. BUT A LOT WAS PREDICATED ON THIS THIS SECTION FOR ME. WE APPRECIATE IT, SIR. AT THE NEXT COUNCIL MEETING. OKAY. PLAN ON THAT. MARK, YOU'RE ON. YOU'RE ON CALL. OKAY. OKAY. I THINK WE NEED A MOTION TO APPROVE. AND A SECOND. SO MR GAGLIARDI HAS A VERY FUN FACE ON, SO HE WILL GET NUMBER ONE AND MISS DAWKINS WILL GET NUMBER TWO, AND THEN WE WILL VOTE. AND IT'S UNANIMOUS. THANK YOU, MR. LONG. THANK YOU, JIMMY. WE REALLY WANT. WHAT IS IT? THE MAYOR ALWAYS SAYS DON'T SCREW IT UP. OKAY. NEXT ON THE AGENDA, IF I CAN KEEP MY LIFE STRAIGHT, IS NUMBER OH YEAH, CONSIDER AMERICAN RESCUE PLAN. [13. Consider a resolution of the City of Bedford, Texas approving the American Rescue Plan Act Appropriation Plan; and recognizing and appropriating expenditures within the Fiscal Year 2023 Coronavirus Local Fiscal Recovery Fund budget and authorizing the City Manager or his designee to execute an agreement and all necessary documents related to the engagement of the Huddleston Group to assist the City with a feasibility study to determine the likelihood of a successful capital campaign to raise funds to contribute to the construction costs of the new performing arts center for a fee not to exceed $48,250. ] OKAY. NUMBER 13, CONSIDER A RESOLUTION OF THE CITY OF BEDFORD, TEXAS, APPROVING THE AMERICAN RESCUE PLAN ACT APPROPRIATION PLAN AND RECOGNIZING AND APPROPRIATING EXPENDITURES WITHIN THE FISCAL YEAR 2023 CORONAVIRUS, LOCAL FISCAL RECOVERY FUND BUDGET AND AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE AN AGREEMENT AND ALL NECESSARY DOCUMENTS RELATED TO THE ENGAGEMENT OF THE HUDDLESTON GROUP TO ASSIST THE CITY WITH A FEASIBILITY STUDY TO DETERMINE THE LIKELIHOOD OF SUCCESSFUL CAPITAL CAMPAIGN TO RAISE FUNDS TO CONTRIBUTE TO THE CONSTRUCTION COSTS OF THE NEW PERFORMING ARTS CENTER FOR A FEE NOT TO EXCEED $48,250. [01:15:05] AND THIS IS MR STATHATOS. YES, MA'AM. THANK YOU, MAYOR PRO TEM. THIS ITEM, AS YOU KNOW, THE COUNCIL HAS SET ASIDE FUNDS FOR TO CONSTRUCT A PERFORMING ARTS CENTER. AND IN THE LAST COUPLE OF YEARS, WITH SUPPLY CHAIN ISSUES, WITH JUST INFLATION AND THE COST OF CONSTRUCTION CONTINUES TO INCREASE. AND SO WHILE WE FEEL LIKE THERE ARE ENOUGH REVENUE SOURCES TO WHERE WE CAN PROVIDE A WONDERFUL PERFORMING ARTS CENTER FOR THE COMMUNITY, THERE ARE ALWAYS THINGS THAT WE NEED OR THAT WE DESIRE THAT WE'RE NOT ABLE TO AFFORD. AND THERE ARE SOME THINGS THAT WOULD HAVE BEEN A GIVEN A FEW YEARS AGO OR EVEN A FEW A YEAR AGO THAT ARE NOW POTENTIALLY AT RISK OF BEING FUNDED BECAUSE OF THE INCREASE IN COSTS, CONSTRUCTION COSTS. AND SO ONE OF THE THINGS THAT WE'VE HEARD FROM THE COMMUNITY AND JUST IN GENERAL IS IF THERE'S A WAY TO GET DONATIONS TO HELP BRIDGE THE GAP ON SOME OF THE THE WANTS VERSUS WHAT WE CAN AFFORD AND WHAT HAVE YOU. AND SO WE'VE DONE A LOT OF RESEARCH. AND BASICALLY THERE'S A GROUP CALLED THE HUDDLESTON GROUP THAT WE'VE MET WITH THAT WILL DO A FEASIBILITY STUDY. AND BASICALLY WHAT THEY'LL DO IS THEY'LL COME IN AND MEET WITH FOCUS GROUPS AND SEE WHAT TYPE OF CLIMATE THERE IS TO BE ABLE TO RAISE WHATEVER TYPE OF REVENUE. AND IN THIS CASE, WE'RE SHOOTING FOR $5 MILLION. AND I DON'T WANT I DON'T WANT TO MENTION THE NONPROFIT, BUT LET ME JUST SAY, THERE'S A LOCAL NONPROFIT THAT IS I THINK MOST PEOPLE WOULD BE FAMILIAR WITH THAT RECENTLY RAISED OVER $7 MILLION. AND SO I WAS ALREADY VERY OPTIMISTIC. BUT WHEN I HEARD THAT LATE LAST WEEK, I'M EVEN MORE OPTIMISTIC. AND SO BASICALLY THIS FEASIBILITY STUDY WILL IT WILL COST $48,250 FROM ARPA FUNDS. AND WHILE I, I UNDERSTAND THAT SOME PEOPLE SAID WE DON'T NECESSARILY NEED TO SPEND THAT, IT'S REALLY AN INVESTMENT. AND THE REASON IS BECAUSE THIS IS GOING TO ENABLE THE HUDDLESTON GROUP TO GET POTENTIAL DONORS AND MOVERS AND SHAKERS THAT NO OTHER DONORS TOGETHER AND KIND OF SEE. BECAUSE RIGHT NOW WITH WITH THE ECONOMY, THERE ARE PEOPLE THAT ARE CUTTING BACK ON WHO THEY'RE DONATING TO AND THE THE DIVERSE AMOUNT OF PEOPLE THEY DONATE TO. AND SO THIS TO ME IS A VERY GOOD INVESTMENT. AND IT'S A MATTER OF TESTING THE WATERS TO SEE, ESPECIALLY WHERE WE'RE AT WITH WITH PERFORMING ARTS CENTER. YOU KNOW, THE COUNCIL HAD CONDITIONALLY BLESSED A $10 MILLION PRICE TAG AND WE HIRED THE CONTRACTOR. BUT WE'RE GETTING TO THE POINT WHERE Y'ALL ARE GOING TO NEED TO DECIDE WHAT THE GUARANTEED MAXIMUM PRICE IS. AND SO I THINK IT'S IMPORTANT THAT WE LOOK AT WHAT POTENTIAL FUNDS ARE OUT THERE. SO WHEN YOU ALL ARE LOOKING AT WHAT YOU WANT TO KEEP OR CUT ON THE PROJECT, WE CAN MAKE GOOD RECOMMENDATIONS BASED ON A POTENTIAL FUNDRAISING DRIVE. SO SORRY, I KNOW IT'S IT'S KIND OF OUTSIDE THE BOX, SO I WANT TO KIND OF OVEREXPLAIN, BUT I'LL BE HAPPY TO ANSWER ANY QUESTIONS ANYONE HAS. IT'S 60 TO 75 DAYS AND I'M SORRY, BUT FOR ANY QUESTIONS, I WANT TO POINT OUT Y'ALL HAVE A NEW COPY IN FRONT OF YOU ALL. THERE ARE JUST SOME IT'S MORE ACADEMIC CHANGES. IT DOESN'T CHANGE ANYTHING OVERALL. BUT I WOULD FOR THE RECORD, I'D LIKE TO MENTION THESE CHANGES THAT WERE RECOMMENDED BY THE CITY ATTORNEY'S OFFICE. THERE WAS SOME CONCERN ABOUT HOW QUICKLY THE FUNDS WOULD BE PAID OUT. THE FEASIBILITY STUDY SHOULD TAKE 60 TO 75 DAYS, BUT THE CONTRACT IS ALMOST 4 OR 5 MONTHS JUST IN CASE. AND SO WHAT WE'VE DONE IS WE'VE SPREAD OUT THE PAYMENTS INTO WHERE THE INITIAL PAYMENT WOULD BE PAID AS SOON AS THE AGREEMENT IS SIGNED. AND THEN AFTER THAT, THE NEXT TRANCHE, THE HALF OF THE LAST HALF. SO A FOURTH WOULD BE PAID JUNE 1ST AND THEN I'M SORRY, THREE EQUAL PAYMENTS MAY 1ST, JUNE 1ST AND JULY 1ST. SO IT'D BE THE SAME AMOUNT OF MONEY. IT WOULD JUST BE SPREAD OUT TO WHERE THE FINAL PAYMENT WOULD BE CLOSER TO THE COMPLETION OF THE FEASIBILITY STUDY. THE NEXT ITEM IS ARBITRATION AND LIABILITY, SECTION NINE. IT WAS STRICKEN AND THEN THE NEXT ITEM IT WAS ABOUT INDEMNIFICATION. THE CITY ATTORNEY HAD JUST REQUESTED THAT WE ADD TO THE EXTENT PERMITTED BY LAW. AND THEN FINALLY THERE WAS AN AGREEMENT. THE COMPANY IS BASED IN ARIZONA, AND SO IT SAID ARIZONA INSTEAD OF. MRS. AND THAT'S WHAT WAS CHANGED. BUT THERE WERE NOT. THEY WERE ALL ACADEMIC CHANGES THAT DIDN'T CHANGE ANYTHING ABOUT THE SCOPE, THE COST OR DELIVERABLES. OKAY. COUNCIL QUESTIONS. OH, WOW. I'M SHOCKED. I APPRECIATE THE FACT THAT WE'RE RESEARCHING THIS. I THINK WE ARE A LITTLE BIT SHORT ON THE MONEY THAT WE NEED FOR THE PERFORMING ARTS. AND I THINK IT'S BEEN MENTIONED BEFORE THAT THE PEOPLE THAT USE IT SHOULD PAY FOR IT. BUT I THINK THE PROBLEM WITH THAT THEORY IS THAT WE ALL PAY FOR BASEBALL FIELDS LIBRARY. [01:20:02] IT'S A QUALITY OF LIFE ISSUE, BUT THIS DOES KIND OF RESPOND TO THAT KNEE JERK COMMENT THAT WE WE NEED TO HAVE THOSE PEOPLE PAY FOR IT. SO I'M VERY HOPEFUL. I DON'T THINK IT'S ANY, IT'S NOT HIDDEN WHAT I THINK ABOUT THE ARTS, LET'S JUST SAY THAT. BUT I WILL SAY THAT A FEW A YEAR AGO I WENT TO A CHAMBER MEETING AND IT WAS A STATE OF THE SCHOOL SYSTEM AS HEBISD. AND IN THAT, IN THEIR SLIDE SHOW THEY WERE SHOWING THAT HOW MANY KIDS PARTICIPATED IN SPORTS AND HOW MANY KIDS PARTICIPATED IN THE ARTS. IT WAS FASCINATING TO ME BECAUSE THERE WERE 2000 CHILDREN IN HEB ISD THAT PARTICIPATED IN SPORTS. ON THE OTHER HAND, THERE WERE 5500 THAT PARTICIPATED IN THE ARTS AND I THOUGHT, WELL, THERE GOES THE POINT. THERE ARE PEOPLE THROUGHOUT THEIR LIVES THAT WILL ENJOY THE ARTS AND IT'S NOT ALWAYS ABOUT SPORTS. SO I'M ALL FOR THIS. AND I DO BELIEVE THAT THERE'S A REASON WE HAVE TO DO IT THIS WAY. I WAS KIND OF AHEAD OF MYSELF SAYING, WELL, YOU KNOW, WE MIGHT AS WELL TRY IT AND SCREW UP, WE JUST WE CAN'T WASTE THE TIME. SO BUT I APPRECIATE THAT. SO WE'RE GOING TO GO AHEAD WITH IT. DO WE HAVE A MOTION? ANYONE. OKAY. ROB GAGLIARDI HAS MADE THE MOTION. AND DO I HAVE A SECOND? MR. STEVES IS A SECOND AND WE SHALL NOW VOTE. AND IT'S UNANIMOUS. WE'RE GOING TO GO FORWARD WITH IT. SO THANK YOU SO MUCH FOR FINDING HIM FOR US MR. STATHATOS. AND I GUESS IT'S YOUR GAME AGAIN WITH THE MAYOR REPORT. [14. Mayor/Council Member Reports ] I'M SORRY. OH, WELL, I. MAYOR PRO TEM SABOL. I DID HAVE A COUNCIL MEMBER REPORT FOR THE BEAUTIFICATION ADVISORY. GREAT. THANK YOU. SO THE BEAUTIFICATION ADVISORY BOARD MET ON FEBRUARY 20TH AND SO HOPEFULLY RESIDENTS DID TAKE PART IN THE [INAUDIBLE] CRUISER THAT WAS BE ABLE TO RECYCLE ENVIRONMENTALLY HAZARDOUS WASTE AS WELL AS ELECTRONIC WASTE. AND SO THE ADVISORY BOARD HAS MET TO LOOK TO CREATE MORE WAYS TO CREATE RECYCLING OPPORTUNITIES FOR HAZARDOUS WASTE THAT RECYCLE REPUBLIC CAN'T PICK UP. ALSO PROVIDING MORE EDUCATION OPPORTUNITIES FOR BEDFORD RESIDENTS. THE NEXT OPPORTUNITY THAT THE ADVISORY BOARD WILL BE PUTTING ON IS CLEANUP BEDFORD DAY. THAT IS ON APRIL 15TH, 2023. AND SO I'M ENCOURAGING FOLKS TO VOLUNTEER AT BEDFORDTX.GOV/VOLUNTEER ON APRIL 15TH. THAT WILL BE FROM 9 A.M. TO NOON. THANK YOU, MAYOR PRO TEM. THANK YOU, MISS DAWKINS. ANYBODY ELSE GOT A REPORT? [15. City Manager/Staff Reports ] AND NOW WE'LL HAVE MR. STATHATOS REPORT. THANK YOU, SIR. THANK YOU, MA'AM. AS MENTIONED AT THE NEXT MEETING, WE'LL HAVE A REPORT. WE'LL BE ABLE TO DISCLOSE A LOT MORE STUFF ABOUT THE SIGNATURE EVENT, BECAUSE OF THE FINANCIAL REPORT. THE INVESTMENT REPORT. CANDIDLY, THIS IS GOING TO BE LIGHT. AND MORE THAN ANYTHING, I WANT TO GIVE AN UPDATE ON THE YMCA. AND I WON'T DO THIS ALL THE TIME, BUT IT'S SO EXCITING. AND I GOT NEW NUMBERS TODAY ON UTILIZATION. AND I THINK THIS JUST CONTINUES TO VALIDATE WHAT A HOME RUN THE COUNCIL HIT WITH PARTNERING WITH THE YMCA. AND I'M GOING TO READ FROM THE NUMBERS BECAUSE I DON'T WANT TO TRANSPOSE ANYTHING. AS OF TODAY, WE HAVE 2187 CURRENT MONTHLY PAY MEMBERSHIP UNITS, SO THAT'S EQUAL TO ALMOST 7000, RIGHT AT MEMBERS. THAT IS ACTUALLY OVER WHAT WAS PROJECTED AT THIS TIME BY ALMOST 100. SO WE'RE ACTUALLY AHEAD OF SCHEDULE. THERE ARE 6322 OF THOSE MEMBERS ARE BEDFORD RESIDENTS. HERE'S AN ITEM THAT IS JUST STAGGERING. IN FEBRUARY, THERE WERE OVER 5000 CHECK INS BY SENIOR CITIZENS AT THE CENTER, AND THOSE ARE JUST THE ONES THAT USE EITHER RENEW, ACTIVE OR SILVERSNEAKERS. SO OVER 5000 AND THAT GREW BY ALMOST A THOUSAND FROM FROM JANUARY. AND THEN FINALLY, JUST ONE OTHER TIDBIT IN CASE YOU'RE EVER ON JEOPARDY, THE AVERAGE AMOUNT OF CHECK INS PER WEEKDAY IS AROUND 725. SO THANK YOU AGAIN FOR THE LEAP OF FAITH. AND IT CONTINUES TO JUST VALIDATE THE DECISION. SO OTHER THAN THAT, I DON'T HAVE ANY OTHER ITEMS TO DISCUSS. MR. STATHATOS. DO WE HAVE AN EXECUTIVE SESSION TONIGHT? YES. OKAY. [EXECUTIVE SESSION ] OKAY. WE ARE GOING TO HAVE TO DEPART THIS VENUE TO CONVENE IN A CLOSED SESSION IN COMPLIANCE WITH SECTION 551.001 AT TEXAS GOVERNMENT CODE TO DISCUSS THE FOLLOWING AND WE'LL BE BACK TO SEE YOU. AND WE JUST NEED TO ANNOUNCE THE THREE SECTION NUMBERS 087071 AND 072. DO WE HAVE TO READ IT ALL? NO, JUST THE SECTION. [01:25:03] OKAY. WE'RE GOING TO DISCUSS THE FOLLOWING. SECTION 551.087. SECTION 551.071B. AND PURSUANT TO THE SECTION 551.072. THANK YOU. SO WE'LL BE BACK. AND WE DID WE DID DO SOME BUSINESS BACK THERE THAT NEEDS TO BE APPROVED OUT HERE. [16. Take any action necessary as a result of the Executive Session. ] AND AFTER OUR EXECUTIVE SESSION, WHO WANTS TO MAKE A MOTION? OKAY, MISS DAWKINS. I MOVED TO AUTHORIZE THE CITY MANAGER TO EXECUTE A SETTLEMENT AGREEMENT AND MUTUAL RELEASE WITH SPECTRUM GULF COAST LLC SETTLING A DISPUTE OVER FRANCHISE FEES AND [INAUDIBLE] FEES. IN A CASE STYLED CITY OF ALLEN, TEXAS ET AL VERSUS TIME WARNER CABLE, TEXAS LLC, DBA SPECTRUM AND CHARTER COMMUNICATIONS. CASE NUMBER SIX [INAUDIBLE] 10-CV-345-ADA-DTG . BRAVO. DO WE HAVE A SECOND? SECOND. OKAY. MR. FARCO SECONDED. AND NOW WE NEED TO VOTE. AND THE VOTE IS UNANIMOUS. I THINK THAT'S IT FOR THIS EVENING. FELLOWS, WE MADE IT IN ABOUT AN HOUR. OH, YEAH, YEAH, WE MADE IT. MOTION TO ADJOURN, AND WE MADE IT IN ABOUT SEVEN IN ABOUT AN HOUR AND 40 MINUTES. AND MR. FARKO HAS MADE THE MOTION TO ADJOURN, AND WE'VE GOT A SECOND BY. NO. MICHELLE. I'LL LET YOU DO IT. MR GAGLIARDI. I'LL LET YOU DO IT. ALL RIGHT. PLEASE LET ME VOTE ON IT. OKAY. IT'S. IT'S UNANIMOUS WITHOUT EVEN ASKING. THANK YOU, EVERYBODY. AIR JORDANS. AND YOU'RE JUST LIKE MIKE. * This transcript was compiled from uncorrected Closed Captioning.