1 00:00:01,439 --> 00:00:04,480 Uh, good evening again. I'd like to call 2 00:00:03,120 --> 00:00:06,960 the community the whole for the village 3 00:00:04,480 --> 00:00:08,960 of Kerry on September 1st, 2026 to order 4 00:00:06,960 --> 00:00:09,679 with roll call, please. 5 00:00:08,960 --> 00:00:10,240 » Kier 6 00:00:09,679 --> 00:00:11,200 » Here. 7 00:00:10,240 --> 00:00:11,920 » Dudac. 8 00:00:11,200 --> 00:00:12,480 » McCalpine 9 00:00:11,920 --> 00:00:13,120 » Here. 10 00:00:12,480 --> 00:00:13,599 » Pina 11 00:00:13,120 --> 00:00:15,599 » Here. 12 00:00:13,599 --> 00:00:16,320 » Stefani [clears throat] 13 00:00:15,599 --> 00:00:16,960 » Here. 14 00:00:16,320 --> 00:00:17,359 » Walworth 15 00:00:16,960 --> 00:00:18,160 » Here. 16 00:00:17,359 --> 00:00:19,680 » Kick, 17 00:00:18,160 --> 00:00:20,000 » I'm here. Please join me again for the 18 00:00:19,680 --> 00:00:23,000 pledge of 19 00:00:20,000 --> 00:00:23,000 » Allegiance 20 00:00:25,279 --> 00:00:33,800 to the flag of the 21 00:00:30,800 --> 00:00:33,800 nationy 22 00:00:33,920 --> 00:00:37,719 and justice for all. 23 00:00:39,120 --> 00:00:42,160 » Thank you. Now moving to the public 24 00:00:40,399 --> 00:00:44,160 comments where the public is invited to 25 00:00:42,160 --> 00:00:46,480 address the community whole on any issue 26 00:00:44,160 --> 00:00:48,079 other than what's on the the agenda. I 27 00:00:46,480 --> 00:00:50,960 had nobody sign in. Is there somebody 28 00:00:48,079 --> 00:00:52,960 else would like to come up and 29 00:00:50,960 --> 00:00:57,039 fill in? Okay. Thank you. We'll go ahead 30 00:00:52,960 --> 00:00:58,480 and close uh public comment at 6:32. 31 00:00:57,039 --> 00:01:01,039 Uh we have a couple things on the 32 00:00:58,480 --> 00:01:03,039 agenda. Well, one really one big one. Uh 33 00:01:01,039 --> 00:01:05,199 talk about our economic development 34 00:01:03,039 --> 00:01:07,520 discussion about how we get to where we 35 00:01:05,199 --> 00:01:09,760 are. So I'm going to turn this over to 36 00:01:07,520 --> 00:01:11,680 our community development department. 37 00:01:09,760 --> 00:01:13,040 » Uh thank you, mayor. Uh this the 38 00:01:11,680 --> 00:01:14,799 presentation this evening, I'm going to 39 00:01:13,040 --> 00:01:16,640 let Dan Gardner, our economic 40 00:01:14,799 --> 00:01:18,400 development specialist, do most of the 41 00:01:16,640 --> 00:01:19,600 speaking this evening. Um, happy to 42 00:01:18,400 --> 00:01:21,600 answer your questions that the board may 43 00:01:19,600 --> 00:01:24,320 have, but uh, really just wanted to give 44 00:01:21,600 --> 00:01:25,759 a overview of kind of the operations 45 00:01:24,320 --> 00:01:27,520 that we do within the community 46 00:01:25,759 --> 00:01:29,520 development department uh, from an 47 00:01:27,520 --> 00:01:32,000 economic development standpoint. Um, 48 00:01:29,520 --> 00:01:34,079 won't get into specifics on sites in the 49 00:01:32,000 --> 00:01:35,119 conversation or discussion, but just 50 00:01:34,079 --> 00:01:36,720 really want to give a high level 51 00:01:35,119 --> 00:01:38,479 overview as far as the actions and 52 00:01:36,720 --> 00:01:39,680 activities that we take. Um, but 53 00:01:38,479 --> 00:01:41,040 certainly happy to answer questions that 54 00:01:39,680 --> 00:01:43,280 the board may have as well as the 55 00:01:41,040 --> 00:01:45,119 presentation goes on. Um, so with that, 56 00:01:43,280 --> 00:01:47,680 I'll turn the presentation over to Dan 57 00:01:45,119 --> 00:01:49,680 uh Gardner for uh an overview of kind of 58 00:01:47,680 --> 00:01:52,640 uh the operations that we do and then 59 00:01:49,680 --> 00:01:55,600 again happy to answer any questions. 60 00:01:52,640 --> 00:01:58,240 » Great. Thank you everyone. I know these 61 00:01:55,600 --> 00:02:00,000 conversations have been we have these 62 00:01:58,240 --> 00:02:01,840 conversations kind of ongoing throughout 63 00:02:00,000 --> 00:02:04,719 the year, but thought it would be 64 00:02:01,840 --> 00:02:07,280 helpful to touch on it and go through 65 00:02:04,719 --> 00:02:09,200 kind of a 66 00:02:07,280 --> 00:02:10,479 kind of a review of the process and kind 67 00:02:09,200 --> 00:02:13,440 of some of the things that we're working 68 00:02:10,479 --> 00:02:16,560 on uh and how things operate. for those 69 00:02:13,440 --> 00:02:19,040 that uh are familiar with the process. 70 00:02:16,560 --> 00:02:21,520 Uh I know most of you are, but again, 71 00:02:19,040 --> 00:02:25,280 it's a it's a great opportunity to walk 72 00:02:21,520 --> 00:02:26,560 through things. Uh and really what I 73 00:02:25,280 --> 00:02:29,920 think a lot of people don't realize is 74 00:02:26,560 --> 00:02:32,959 economic development gets uh spoken to 75 00:02:29,920 --> 00:02:37,280 as as like it's a thing. Uh and it's an 76 00:02:32,959 --> 00:02:40,400 ongoing process uh that goes from an 77 00:02:37,280 --> 00:02:43,280 iterative starting point and it really 78 00:02:40,400 --> 00:02:45,200 never ends because you're always trying 79 00:02:43,280 --> 00:02:46,800 to retain businesses. You're always 80 00:02:45,200 --> 00:02:48,640 trying to make sure that businesses have 81 00:02:46,800 --> 00:02:51,840 what they need and at the same time 82 00:02:48,640 --> 00:02:55,519 you're trying to recruit new businesses 83 00:02:51,840 --> 00:02:58,480 uh address and target uh evolving 84 00:02:55,519 --> 00:03:02,319 markets and find those fits that work 85 00:02:58,480 --> 00:03:05,360 best for the community. uh and 86 00:03:02,319 --> 00:03:07,440 underlying that is that uh the village 87 00:03:05,360 --> 00:03:10,640 can influence a process but it doesn't 88 00:03:07,440 --> 00:03:13,120 control every decision point. Uh so 89 00:03:10,640 --> 00:03:16,720 working from identifying a business a 90 00:03:13,120 --> 00:03:18,159 business a developer uh opportunity uh 91 00:03:16,720 --> 00:03:19,920 and sometimes that works the other way 92 00:03:18,159 --> 00:03:22,640 around. they identify us or they've 93 00:03:19,920 --> 00:03:26,159 identified a market and we fall into 94 00:03:22,640 --> 00:03:30,239 their target and then we operate with 95 00:03:26,159 --> 00:03:33,440 trying to maximize that opportunity and 96 00:03:30,239 --> 00:03:34,959 it's it's strategic in being in the 97 00:03:33,440 --> 00:03:37,280 right place and recognizing when those 98 00:03:34,959 --> 00:03:40,239 opportunities come. Uh they're they 99 00:03:37,280 --> 00:03:41,680 don't always pound on the door. uh you 100 00:03:40,239 --> 00:03:43,920 have to recognize when things are 101 00:03:41,680 --> 00:03:46,560 revolving and identify who some of the 102 00:03:43,920 --> 00:03:48,799 active businesses are and developments 103 00:03:46,560 --> 00:03:51,360 and what some of the trends are. Uh and 104 00:03:48,799 --> 00:03:53,040 then that that's on the recruiting side. 105 00:03:51,360 --> 00:03:54,879 Uh and then it's you know you can have 106 00:03:53,040 --> 00:03:57,280 all the market potential in the world if 107 00:03:54,879 --> 00:03:59,760 you don't have the right sites. Uh 108 00:03:57,280 --> 00:04:01,680 that's an issue. So you can have market 109 00:03:59,760 --> 00:04:03,599 capacity but you don't have the physical 110 00:04:01,680 --> 00:04:05,200 capacity but then you're also going to 111 00:04:03,599 --> 00:04:07,840 have physical capacity but there's no 112 00:04:05,200 --> 00:04:10,080 market for what you're trying to 113 00:04:07,840 --> 00:04:11,599 achieve. So those two things kind of 114 00:04:10,080 --> 00:04:14,879 work hand in hand. I've always said that 115 00:04:11,599 --> 00:04:17,199 there's the capacities go from market 116 00:04:14,879 --> 00:04:19,359 capacity, financial capacity. There's 117 00:04:17,199 --> 00:04:22,240 the economic capacity to actually make 118 00:04:19,359 --> 00:04:24,000 it happen and financial capacity and 119 00:04:22,240 --> 00:04:26,240 then there's community capacity too. Is 120 00:04:24,000 --> 00:04:28,720 it something the community wants to see? 121 00:04:26,240 --> 00:04:31,280 So is it a fit on all four of those 122 00:04:28,720 --> 00:04:33,919 fronts? Uh working with property owners 123 00:04:31,280 --> 00:04:37,440 and brokers. Uh this is key because it's 124 00:04:33,919 --> 00:04:39,919 not always village controlled property. 125 00:04:37,440 --> 00:04:41,919 more often than not, it's not. So, being 126 00:04:39,919 --> 00:04:44,880 able to work directly with the brokers 127 00:04:41,919 --> 00:04:47,199 and the property owners uh to align 128 00:04:44,880 --> 00:04:50,080 expectations is key, and I'll get into 129 00:04:47,199 --> 00:04:51,680 that a little bit more as we go through. 130 00:04:50,080 --> 00:04:54,240 Feasibility, as I said, the feasibility 131 00:04:51,680 --> 00:04:55,919 of development. Uh it's it's the 132 00:04:54,240 --> 00:04:58,560 construction costs. It's whether or not 133 00:04:55,919 --> 00:05:00,240 the numbers work from a operational 134 00:04:58,560 --> 00:05:02,320 standpoint. Is there enough revenue? Is 135 00:05:00,240 --> 00:05:04,320 the land cost aligned with the 136 00:05:02,320 --> 00:05:07,440 investment? uh the residual land value 137 00:05:04,320 --> 00:05:10,240 that's left over after doing the the 138 00:05:07,440 --> 00:05:14,080 project. Is that is that in align and 139 00:05:10,240 --> 00:05:16,160 the due diligence that most developers 140 00:05:14,080 --> 00:05:19,600 and a lot of businesses go through a 141 00:05:16,160 --> 00:05:21,600 painfully slow process of due diligence 142 00:05:19,600 --> 00:05:24,000 and sometimes that due diligence goes in 143 00:05:21,600 --> 00:05:27,360 fits and starts and sometimes it it 144 00:05:24,000 --> 00:05:29,919 escalates and then it u it doesn't 145 00:05:27,360 --> 00:05:32,320 really result in a project. But that due 146 00:05:29,919 --> 00:05:34,479 diligence period uh is pretty much with 147 00:05:32,320 --> 00:05:36,000 any kind of development. Uh then once 148 00:05:34,479 --> 00:05:37,680 you get through that, you have the 149 00:05:36,000 --> 00:05:39,759 entitlement process. Then you're going 150 00:05:37,680 --> 00:05:40,960 through all the entitlements through 151 00:05:39,759 --> 00:05:44,479 whether it's through the village, the 152 00:05:40,960 --> 00:05:46,800 regulatory issues, uh the getting their 153 00:05:44,479 --> 00:05:48,639 financing align, getting things closed. 154 00:05:46,800 --> 00:05:52,320 Uh and then you finally have the opening 155 00:05:48,639 --> 00:05:56,160 of an actual project coming to fruition. 156 00:05:52,320 --> 00:05:58,800 Uh I said business and and developers uh 157 00:05:56,160 --> 00:06:01,600 typically are evaluating multiple sites. 158 00:05:58,800 --> 00:06:03,759 So carry falling within 159 00:06:01,600 --> 00:06:07,520 usually a larger market area. Those 160 00:06:03,759 --> 00:06:09,600 multiple sites uh could be within the 161 00:06:07,520 --> 00:06:10,720 region. It could be within, you know, a 162 00:06:09,600 --> 00:06:13,840 couple different neighboring 163 00:06:10,720 --> 00:06:16,240 communities, but typically with some 164 00:06:13,840 --> 00:06:18,960 exceptions, it's not a target where it's 165 00:06:16,240 --> 00:06:21,120 specific to a municipality. Uh private 166 00:06:18,960 --> 00:06:23,840 property pricing, timing, seller 167 00:06:21,120 --> 00:06:26,560 expectations, uh all these can determine 168 00:06:23,840 --> 00:06:28,160 whether a deal advances or not. And many 169 00:06:26,560 --> 00:06:31,199 of the prospects, as I said, spent 170 00:06:28,160 --> 00:06:32,880 months in this process through financial 171 00:06:31,199 --> 00:06:35,520 and corporate due diligence and 172 00:06:32,880 --> 00:06:38,400 environmental assessment. I want to just 173 00:06:35,520 --> 00:06:41,039 talk about a couple things that dovetail 174 00:06:38,400 --> 00:06:43,840 into other slides, but it's important to 175 00:06:41,039 --> 00:06:46,880 highlight here as much as anywhere uh of 176 00:06:43,840 --> 00:06:52,560 where this has actually come to fruition 177 00:06:46,880 --> 00:06:54,560 here. Uh the season to carry project, we 178 00:06:52,560 --> 00:06:57,280 had that site targeted for a long time. 179 00:06:54,560 --> 00:07:00,400 was in a comprehensive plan. U at that 180 00:06:57,280 --> 00:07:02,000 time one of the uh recommendations was 181 00:07:00,400 --> 00:07:06,080 you know commercial and commercial 182 00:07:02,000 --> 00:07:08,080 development was uh kind of any any plan 183 00:07:06,080 --> 00:07:10,080 you know that's more than 10 years old 184 00:07:08,080 --> 00:07:12,160 was pretty much identifying any corridor 185 00:07:10,080 --> 00:07:15,280 as being commercial and then the market 186 00:07:12,160 --> 00:07:19,199 started evolving to residential or some 187 00:07:15,280 --> 00:07:20,960 mixed use. Uh but we 188 00:07:19,199 --> 00:07:23,440 were looking at the Damish property as 189 00:07:20,960 --> 00:07:25,280 it was you know I think everybody will 190 00:07:23,440 --> 00:07:29,039 still think of that as the damage 191 00:07:25,280 --> 00:07:31,360 property. Um I spoke to Mr. Damish on a 192 00:07:29,039 --> 00:07:33,840 number of occasions. U long 193 00:07:31,360 --> 00:07:35,680 conversations of you know what what are 194 00:07:33,840 --> 00:07:37,520 you thinking of doing? Where where is it 195 00:07:35,680 --> 00:07:39,680 going? And and that's about as far as a 196 00:07:37,520 --> 00:07:41,840 lot of the conversations would go. And 197 00:07:39,680 --> 00:07:44,560 just like with many property owners and 198 00:07:41,840 --> 00:07:47,199 and businesses and brokers, I I check in 199 00:07:44,560 --> 00:07:50,479 regularly and I would check in and then 200 00:07:47,199 --> 00:07:52,400 that process started to evolve. Uh they 201 00:07:50,479 --> 00:07:56,319 listed it with a broker, a national 202 00:07:52,400 --> 00:07:59,840 broker, uh went out on a test in a 203 00:07:56,319 --> 00:08:01,440 pretty big net, landed uh several 204 00:07:59,840 --> 00:08:03,520 developers that were interested in the 205 00:08:01,440 --> 00:08:06,879 property. Some didn't match our 206 00:08:03,520 --> 00:08:09,599 expectations. Uh let them know that what 207 00:08:06,879 --> 00:08:14,240 our expectations were. Um and that 208 00:08:09,599 --> 00:08:16,319 included keeping the frontage and 31 209 00:08:14,240 --> 00:08:18,080 uh fiduciary the ultimately the 210 00:08:16,319 --> 00:08:20,160 developer came in. We sat in the 211 00:08:18,080 --> 00:08:23,039 conference room here in a first meeting 212 00:08:20,160 --> 00:08:25,840 like we did with a lot of people uh and 213 00:08:23,039 --> 00:08:27,440 in frankly that we the conversation we 214 00:08:25,840 --> 00:08:29,759 had with them at the groundbreaking 215 00:08:27,440 --> 00:08:31,599 fairly recently was they were in fact 216 00:08:29,759 --> 00:08:33,839 identifying other locations that weren't 217 00:08:31,599 --> 00:08:36,560 in Kerry. But one of the things that 218 00:08:33,839 --> 00:08:38,399 stuck out to them was our our 219 00:08:36,560 --> 00:08:40,800 relationship and our rapport that we had 220 00:08:38,399 --> 00:08:44,560 with them and our willingness to work 221 00:08:40,800 --> 00:08:47,440 with them uh and and the fairness that 222 00:08:44,560 --> 00:08:49,680 they saw in that process. Uh and we've 223 00:08:47,440 --> 00:08:51,600 heard that from a number of people 224 00:08:49,680 --> 00:08:52,959 restaurant use that we're working with 225 00:08:51,600 --> 00:08:56,000 right now and I can't name it because 226 00:08:52,959 --> 00:08:57,680 they've asked to remain uh discreet 227 00:08:56,000 --> 00:09:00,720 until they go through this due 228 00:08:57,680 --> 00:09:03,519 diligence. But when the woman uh who is 229 00:09:00,720 --> 00:09:07,200 the uh site selection person and the 230 00:09:03,519 --> 00:09:09,920 operator sat with us, she pointed out to 231 00:09:07,200 --> 00:09:13,040 us that we were the only ones that were 232 00:09:09,920 --> 00:09:15,440 continually responsive to her. Uh and 233 00:09:13,040 --> 00:09:16,959 that was that tipped the scale for it. 234 00:09:15,440 --> 00:09:20,399 And it can be just that little thing 235 00:09:16,959 --> 00:09:22,480 that you don't even realize at the time 236 00:09:20,399 --> 00:09:23,680 u is important to that business that 237 00:09:22,480 --> 00:09:25,760 attention. If you're going to get that 238 00:09:23,680 --> 00:09:27,200 attention when I'm not in the community, 239 00:09:25,760 --> 00:09:28,880 I can imagine what I'm going to be like 240 00:09:27,200 --> 00:09:30,240 when I'm here. and what kind of 241 00:09:28,880 --> 00:09:32,880 community I'm dealing with. And that's 242 00:09:30,240 --> 00:09:36,640 what uh we were told and that that means 243 00:09:32,880 --> 00:09:39,680 a lot to us and it really respects uh 244 00:09:36,640 --> 00:09:42,640 reflects uh everybody here. It's not 245 00:09:39,680 --> 00:09:45,120 just me taking credit for this is 246 00:09:42,640 --> 00:09:47,760 everybody here is here every day. Brian 247 00:09:45,120 --> 00:09:51,200 fielding the calls uh on a zoning 248 00:09:47,760 --> 00:09:53,120 question uh and being responsive to it 249 00:09:51,200 --> 00:09:56,640 uh can make the difference in getting a 250 00:09:53,120 --> 00:09:58,399 a project or not. And in that effect 251 00:09:56,640 --> 00:10:01,200 too, going back to the damaged property, 252 00:09:58,399 --> 00:10:04,800 you know, from a standpoint, that site 253 00:10:01,200 --> 00:10:08,640 was created and annexed the village 25 254 00:10:04,800 --> 00:10:10,800 years ago plus. U so the timing that it 255 00:10:08,640 --> 00:10:13,760 took to get that site developed wasn't 256 00:10:10,800 --> 00:10:15,120 anything that the village could in sense 257 00:10:13,760 --> 00:10:16,800 force because the property owner wasn't 258 00:10:15,120 --> 00:10:19,120 willing to sell the property for so 259 00:10:16,800 --> 00:10:20,959 long. Um but having those relationships 260 00:10:19,120 --> 00:10:23,040 with the property owner um and Dan 261 00:10:20,959 --> 00:10:25,360 having uh conversations with them as 262 00:10:23,040 --> 00:10:27,519 well. We relayed kind of what the 263 00:10:25,360 --> 00:10:29,440 interest was from the village, what our 264 00:10:27,519 --> 00:10:32,240 planning guidance was uh from the 265 00:10:29,440 --> 00:10:33,600 comprehensive plan, the route 31 plan um 266 00:10:32,240 --> 00:10:35,360 to speak towards what type of 267 00:10:33,600 --> 00:10:37,200 development the village was open to in 268 00:10:35,360 --> 00:10:39,920 that area. And eventually when the 269 00:10:37,200 --> 00:10:41,360 property owner did list the property, 270 00:10:39,920 --> 00:10:43,519 you know, there was that vision was 271 00:10:41,360 --> 00:10:45,200 already there for the site. Uh so we 272 00:10:43,519 --> 00:10:46,959 were able to work quickly with 273 00:10:45,200 --> 00:10:48,320 developers to know what type of 274 00:10:46,959 --> 00:10:50,480 development is appropriate for the 275 00:10:48,320 --> 00:10:52,959 property and then eventually found the 276 00:10:50,480 --> 00:10:54,720 right developer for that site that um is 277 00:10:52,959 --> 00:10:56,320 pursuing a project there now. Um they're 278 00:10:54,720 --> 00:10:58,480 actually starting foundation work this 279 00:10:56,320 --> 00:11:01,279 week on the project. Uh so that's it's 280 00:10:58,480 --> 00:11:02,880 moving forward. U but they were very 281 00:11:01,279 --> 00:11:05,040 from a developer perspective very 282 00:11:02,880 --> 00:11:07,279 appreciative of the process of going 283 00:11:05,040 --> 00:11:09,680 through here. I know there was a lot of 284 00:11:07,279 --> 00:11:11,760 discussion at the various levels um the 285 00:11:09,680 --> 00:11:14,160 board level and the the zoning board 286 00:11:11,760 --> 00:11:15,839 level for that project but ultimately 287 00:11:14,160 --> 00:11:18,320 the professionalism that our 288 00:11:15,839 --> 00:11:19,920 organization had the developer was very 289 00:11:18,320 --> 00:11:21,519 impressed by the size of our community 290 00:11:19,920 --> 00:11:23,839 and the responsiveness that we gave to 291 00:11:21,519 --> 00:11:24,959 them uh through our process compared to 292 00:11:23,839 --> 00:11:26,959 other communities that they've actually 293 00:11:24,959 --> 00:11:28,800 developed and they actually appreciated 294 00:11:26,959 --> 00:11:31,360 the process here more than some other 295 00:11:28,800 --> 00:11:33,120 communities that worked in. Right. And I 296 00:11:31,360 --> 00:11:35,440 think mayor, you've had experience where 297 00:11:33,120 --> 00:11:37,519 people come to you and said that was a 298 00:11:35,440 --> 00:11:40,160 good 299 00:11:37,519 --> 00:11:42,320 good people. A lot of the mayors that I 300 00:11:40,160 --> 00:11:43,839 talked to, how did you land fiduciary in 301 00:11:42,320 --> 00:11:45,519 in your village? They're a very highly 302 00:11:43,839 --> 00:11:48,079 soughtafter developer. They do a really 303 00:11:45,519 --> 00:11:49,440 good job, high quality, and they're just 304 00:11:48,079 --> 00:11:51,440 great company to work with. And I think 305 00:11:49,440 --> 00:11:53,440 our board picked up on that from from 306 00:11:51,440 --> 00:11:55,360 the get-go. And those are the types of 307 00:11:53,440 --> 00:11:56,880 people that we like to work with. We've 308 00:11:55,360 --> 00:11:58,560 got a very collaborative board and I 309 00:11:56,880 --> 00:12:00,959 think that they pick up on that as well 310 00:11:58,560 --> 00:12:06,160 as they as they've mentioned 311 00:12:00,959 --> 00:12:08,160 » 100%. And that's and frankly I sell you 312 00:12:06,160 --> 00:12:12,720 all when I'm out selling and saying this 313 00:12:08,160 --> 00:12:14,720 is a solid board, a solid staff u once 314 00:12:12,720 --> 00:12:16,959 you get a chance to come in and work 315 00:12:14,720 --> 00:12:19,200 with the community. 316 00:12:16,959 --> 00:12:23,200 Uh we talked a little bit about the the 317 00:12:19,200 --> 00:12:26,480 land uh and that's a uh factor because 318 00:12:23,200 --> 00:12:29,200 we don't have a lot of space in built in 319 00:12:26,480 --> 00:12:31,360 the built environment. Uh vacancy is 320 00:12:29,200 --> 00:12:34,880 low. I've got two slides up here on both 321 00:12:31,360 --> 00:12:39,120 industrial and retail highlighting uh 322 00:12:34,880 --> 00:12:42,959 less than 1% on the industrial side less 323 00:12:39,120 --> 00:12:45,760 than 2%. These are phenomenal numbers. U 324 00:12:42,959 --> 00:12:48,320 but it's uh both a success and a 325 00:12:45,760 --> 00:12:49,920 reflection of a constraint as well. Uh 326 00:12:48,320 --> 00:12:53,040 that means that we the good news is we 327 00:12:49,920 --> 00:12:54,720 don't have a a ton of vacancy. Bad news 328 00:12:53,040 --> 00:12:58,160 is we don't have space to put some of 329 00:12:54,720 --> 00:13:01,040 the interest that we do get. Uh so it's 330 00:12:58,160 --> 00:13:03,360 less about filling empty buildings uh 331 00:13:01,040 --> 00:13:04,800 and more about creating viable sites and 332 00:13:03,360 --> 00:13:08,399 redevelopment opportunities and 333 00:13:04,800 --> 00:13:11,360 expansion uh capacity. 334 00:13:08,399 --> 00:13:13,920 uh results and momentum. Those numbers 335 00:13:11,360 --> 00:13:16,959 show it. Uh you don't get low vacancy 336 00:13:13,920 --> 00:13:18,480 numbers uh without having high demand 337 00:13:16,959 --> 00:13:22,240 and being a community that is sought 338 00:13:18,480 --> 00:13:26,880 after and having good uh properties to 339 00:13:22,240 --> 00:13:29,040 work with. Uh in 2025, and let Brian uh 340 00:13:26,880 --> 00:13:31,440 chime in here, but we had, you know, 17 341 00:13:29,040 --> 00:13:33,600 new businesses that came into town, 342 00:13:31,440 --> 00:13:36,959 seven existing businesses that relocated 343 00:13:33,600 --> 00:13:39,760 or expanded. Yeah. And this is without a 344 00:13:36,959 --> 00:13:43,440 a lot of incentives of some communities 345 00:13:39,760 --> 00:13:45,600 work with that have just a a endless am 346 00:13:43,440 --> 00:13:48,720 seemingly an endless amount of money to 347 00:13:45,600 --> 00:13:50,880 spend or incentives to offer. uh we do 348 00:13:48,720 --> 00:13:53,360 have that but we're very judicious about 349 00:13:50,880 --> 00:13:56,639 how we utilize that uh which includes 350 00:13:53,360 --> 00:14:00,959 the facade and interior buildout grant 351 00:13:56,639 --> 00:14:03,279 that Brian uh administers 352 00:14:00,959 --> 00:14:06,000 and the so the indust industrial growth 353 00:14:03,279 --> 00:14:08,800 and expansion includes Striker's project 354 00:14:06,000 --> 00:14:10,639 here uh other development and when I 355 00:14:08,800 --> 00:14:12,000 talk about spread out across the village 356 00:14:10,639 --> 00:14:14,079 I mean we're spread out across the 357 00:14:12,000 --> 00:14:17,040 village uh which is it's not just 358 00:14:14,079 --> 00:14:19,360 isolated in one location downtown 359 00:14:17,040 --> 00:14:20,480 development that's happening. Corridor 360 00:14:19,360 --> 00:14:23,120 development. And by corridor 361 00:14:20,480 --> 00:14:25,279 development, I mean things on 31 like we 362 00:14:23,120 --> 00:14:28,399 talked about the seasons of carry 363 00:14:25,279 --> 00:14:30,160 project. We have Route 14 uh development 364 00:14:28,399 --> 00:14:33,440 going on. We have things that are in the 365 00:14:30,160 --> 00:14:35,680 pipeline. Uh that's all part of just the 366 00:14:33,440 --> 00:14:37,760 the larger picture. So it's not even 367 00:14:35,680 --> 00:14:40,160 just happening within the TIF district, 368 00:14:37,760 --> 00:14:42,560 it's happening in other areas of the the 369 00:14:40,160 --> 00:14:44,800 village. and to continue to work on in 370 00:14:42,560 --> 00:14:46,399 developments that are already entitled. 371 00:14:44,800 --> 00:14:48,880 Uh some of the bigger residential 372 00:14:46,399 --> 00:14:52,639 developments and then the D26 373 00:14:48,880 --> 00:14:55,120 transportation center uh the relocation 374 00:14:52,639 --> 00:14:56,959 coming online. An important component of 375 00:14:55,120 --> 00:14:59,760 that was something that we worked very 376 00:14:56,959 --> 00:15:01,199 hard to maintain uh was to find a site 377 00:14:59,760 --> 00:15:03,839 where we could also maintain the 378 00:15:01,199 --> 00:15:07,680 commercial frontage. And now we have 379 00:15:03,839 --> 00:15:11,040 platted lots that will be able to market 380 00:15:07,680 --> 00:15:13,279 and interest already coming in those in 381 00:15:11,040 --> 00:15:16,160 those lots. And the important part being 382 00:15:13,279 --> 00:15:18,079 the continuity between you all the you 383 00:15:16,160 --> 00:15:20,240 have other commercial development and 384 00:15:18,079 --> 00:15:23,360 being able to maintain that frontage in 385 00:15:20,240 --> 00:15:25,040 in a context that includes other uses 386 00:15:23,360 --> 00:15:27,680 like a transportation facility, 387 00:15:25,040 --> 00:15:29,920 residential uses, municipal center, 388 00:15:27,680 --> 00:15:32,639 industrial uses. Uh so that's really 389 00:15:29,920 --> 00:15:34,720 important. 390 00:15:32,639 --> 00:15:37,199 Uh this is just a little bit on the 391 00:15:34,720 --> 00:15:39,680 facade interior buildout grant program. 392 00:15:37,199 --> 00:15:42,959 Uh again just the projects that are in 393 00:15:39,680 --> 00:15:45,839 the works. Uh sales tax generating uh 394 00:15:42,959 --> 00:15:48,480 businesses in the B1 and B2B B3 zoning 395 00:15:45,839 --> 00:15:50,480 districts and then in also non-sales tax 396 00:15:48,480 --> 00:15:53,600 generating businesses. We have programs 397 00:15:50,480 --> 00:15:56,320 that can be utilized by businesses in 398 00:15:53,600 --> 00:15:59,440 both 399 00:15:56,320 --> 00:16:02,160 u revenue trends. This is a this is an 400 00:15:59,440 --> 00:16:05,440 important slide in just the reflection 401 00:16:02,160 --> 00:16:08,240 of when we talk about economic growth 402 00:16:05,440 --> 00:16:10,480 and economic stability. Uh it's one 403 00:16:08,240 --> 00:16:12,000 thing to say it but then actually see it 404 00:16:10,480 --> 00:16:14,959 in the numbers. You know some 405 00:16:12,000 --> 00:16:17,360 communities you know you're tracking CPI 406 00:16:14,959 --> 00:16:20,880 and you're tracking where that growth is 407 00:16:17,360 --> 00:16:25,040 at. Kerry has continual growth. Uh and 408 00:16:20,880 --> 00:16:28,240 an important the uh brown line is uh 409 00:16:25,040 --> 00:16:32,639 sales tax. So we are continuing to and 410 00:16:28,240 --> 00:16:36,480 up trending up uh keeping in line with 411 00:16:32,639 --> 00:16:39,279 also income tax, property tax uh growth. 412 00:16:36,480 --> 00:16:41,839 So Kerry is a growing community and 413 00:16:39,279 --> 00:16:43,360 these revenue trends aren't reflected in 414 00:16:41,839 --> 00:16:44,639 a lot of other towns. A lot of other 415 00:16:43,360 --> 00:16:47,440 towns are trying to figure out a way to 416 00:16:44,639 --> 00:16:50,240 get it going back up and reverse a 417 00:16:47,440 --> 00:16:53,680 trend. We are seeing the opposite. We 418 00:16:50,240 --> 00:16:55,759 are seeing continual growth. 419 00:16:53,680 --> 00:16:57,839 Uh why do some deals take longer? One of 420 00:16:55,759 --> 00:16:59,680 the common questions I get is like why 421 00:16:57,839 --> 00:17:02,000 isn't anything happening here? What is 422 00:16:59,680 --> 00:17:04,799 going on with that site? Like like Brian 423 00:17:02,000 --> 00:17:06,799 mentioned, a site is identified. Uh we 424 00:17:04,799 --> 00:17:10,559 spent a lot of time trying to cultivate 425 00:17:06,799 --> 00:17:14,000 that, but it's often out of our control. 426 00:17:10,559 --> 00:17:17,120 We can we can put the lay the groundwork 427 00:17:14,000 --> 00:17:19,360 providing the the infrastructure. We can 428 00:17:17,120 --> 00:17:21,520 do all the things to try to get 429 00:17:19,360 --> 00:17:24,000 development and facilitate development. 430 00:17:21,520 --> 00:17:26,559 Uh but again, we're competing with other 431 00:17:24,000 --> 00:17:28,799 areas. uh carry competes with locations 432 00:17:26,559 --> 00:17:30,799 such as Crystal Lake, Elgangquin, and 433 00:17:28,799 --> 00:17:32,400 then a larger regional area. And then 434 00:17:30,799 --> 00:17:34,640 sometimes it's not even just a larger 435 00:17:32,400 --> 00:17:36,320 regional area, it's a state. So we're 436 00:17:34,640 --> 00:17:37,840 looking at uh you know, we're close 437 00:17:36,320 --> 00:17:40,640 enough to the border that sometimes 438 00:17:37,840 --> 00:17:43,200 we're competing against locations in 439 00:17:40,640 --> 00:17:46,000 Wisconsin. uh the real estate economics 440 00:17:43,200 --> 00:17:48,240 and development economics, asking prices 441 00:17:46,000 --> 00:17:52,000 and seller expectations and development 442 00:17:48,240 --> 00:17:54,720 costs do not always align uh with users 443 00:17:52,000 --> 00:17:56,240 u with what users can support and that's 444 00:17:54,720 --> 00:17:59,520 an important distinction. Property 445 00:17:56,240 --> 00:18:02,320 owners are free to ask what they think 446 00:17:59,520 --> 00:18:04,799 they want to get or what their 447 00:18:02,320 --> 00:18:06,880 expectations are and you know and work 448 00:18:04,799 --> 00:18:09,280 with their brokers to try to achieve 449 00:18:06,880 --> 00:18:11,120 that. uh property control. The village 450 00:18:09,280 --> 00:18:13,360 can influence site readiness. Like I 451 00:18:11,120 --> 00:18:16,240 said, we can do everything we can to get 452 00:18:13,360 --> 00:18:18,320 sites prepped. Uh but private owners and 453 00:18:16,240 --> 00:18:20,320 brokers control the pricing and timing 454 00:18:18,320 --> 00:18:24,000 and terms of the deal. The available 455 00:18:20,320 --> 00:18:25,600 tools, we have tools, uh but we got to 456 00:18:24,000 --> 00:18:27,360 be judicious in how we utilize them 457 00:18:25,600 --> 00:18:29,440 because there's still even within those 458 00:18:27,360 --> 00:18:33,440 tools, there's still a limited amount of 459 00:18:29,440 --> 00:18:35,760 resources that can be utilized. 460 00:18:33,440 --> 00:18:38,880 things that are active in the pipeline 461 00:18:35,760 --> 00:18:40,320 uh in confidentiality. Uh a lot is 462 00:18:38,880 --> 00:18:42,960 happening that may not be visible yet. 463 00:18:40,320 --> 00:18:46,720 And that goes to that deals take a while 464 00:18:42,960 --> 00:18:48,720 to evolve and sometimes you get to the 465 00:18:46,720 --> 00:18:51,120 11th hour or you get to the two yard 466 00:18:48,720 --> 00:18:53,840 line and it just doesn't happen. And 467 00:18:51,120 --> 00:18:55,840 it's frustrating, it's disappointing, 468 00:18:53,840 --> 00:18:58,160 but you get up and you go back after the 469 00:18:55,840 --> 00:19:01,120 next deal or you have a contingency 470 00:18:58,160 --> 00:19:03,280 plan. That's always important. to just 471 00:19:01,120 --> 00:19:05,919 not rely on the deals that are 472 00:19:03,280 --> 00:19:08,160 percolating, but to also have plans 473 00:19:05,919 --> 00:19:11,280 because sometimes you find a a developer 474 00:19:08,160 --> 00:19:13,200 or a business that you think you have 475 00:19:11,280 --> 00:19:16,240 the ideal site, they think they have the 476 00:19:13,200 --> 00:19:18,080 ideal site, but if that doesn't work out 477 00:19:16,240 --> 00:19:20,799 to be able to bring them and say, "Okay, 478 00:19:18,080 --> 00:19:23,039 let's figure out where else can we go?" 479 00:19:20,799 --> 00:19:25,760 Uh so that's site evaluations, that's 480 00:19:23,039 --> 00:19:28,480 the buyer due diligence, the lease 481 00:19:25,760 --> 00:19:31,840 property purchase discussions, worked on 482 00:19:28,480 --> 00:19:34,000 some deals here where uh it just the 483 00:19:31,840 --> 00:19:36,799 property owner had a different 484 00:19:34,000 --> 00:19:39,200 expectation than what the business 485 00:19:36,799 --> 00:19:41,520 expectation were. We got pretty far down 486 00:19:39,200 --> 00:19:44,080 the road with that uh and the deal just 487 00:19:41,520 --> 00:19:47,039 couldn't work. uh corporate approval. 488 00:19:44,080 --> 00:19:49,280 Some uh some businesses are have to go 489 00:19:47,039 --> 00:19:53,120 get approval from their corporate office 490 00:19:49,280 --> 00:19:55,919 in New York or Los Angeles or someplace 491 00:19:53,120 --> 00:20:00,080 by somebody who doesn't even know 492 00:19:55,919 --> 00:20:03,200 anything about uh carry. Uh so getting 493 00:20:00,080 --> 00:20:06,000 past those hurdles, we worked with Brian 494 00:20:03,200 --> 00:20:09,679 and I spent time uh I was at the ICS 495 00:20:06,000 --> 00:20:12,799 conference in Las Vegas and met with a 496 00:20:09,679 --> 00:20:15,120 uh the head of a real estate investment 497 00:20:12,799 --> 00:20:16,720 trust that controls a couple of key 498 00:20:15,120 --> 00:20:19,200 properties 499 00:20:16,720 --> 00:20:22,320 um and convinced them that this was a 500 00:20:19,200 --> 00:20:24,400 good property and again speaking kind of 501 00:20:22,320 --> 00:20:26,400 generically without disclosing 502 00:20:24,400 --> 00:20:28,559 properties that they should be 503 00:20:26,400 --> 00:20:31,520 considered removing. removing from the 504 00:20:28,559 --> 00:20:33,440 REIT and allowing for development uh and 505 00:20:31,520 --> 00:20:37,039 laid out a very good case for it. They 506 00:20:33,440 --> 00:20:38,799 agreed. They came back and said the REIT 507 00:20:37,039 --> 00:20:42,000 people that are in charge of the REIT in 508 00:20:38,799 --> 00:20:44,000 New York won't let it go. So that's 509 00:20:42,000 --> 00:20:47,120 that's how these decisions happen 510 00:20:44,000 --> 00:20:50,240 sometimes. U and then uh zoning and 511 00:20:47,120 --> 00:20:53,919 regulatory issues. The things that we do 512 00:20:50,240 --> 00:20:56,559 control u might not be aligned with what 513 00:20:53,919 --> 00:20:59,360 the density or what the the buildout 514 00:20:56,559 --> 00:21:02,159 what the the actual uses. So, you know, 515 00:20:59,360 --> 00:21:03,679 is that something we want to 516 00:21:02,159 --> 00:21:05,679 provide some relief on or some 517 00:21:03,679 --> 00:21:07,679 flexibility or is it something we stick 518 00:21:05,679 --> 00:21:12,000 with? That's one of the things that we 519 00:21:07,679 --> 00:21:14,240 we can control. Uh premature disclosure 520 00:21:12,000 --> 00:21:17,760 can affect a property negotiation. So 521 00:21:14,240 --> 00:21:20,799 sometimes when uh the word gets out of a 522 00:21:17,760 --> 00:21:23,440 business looking at a location, it can 523 00:21:20,799 --> 00:21:26,159 kill a deal. Uh or it drives it changes 524 00:21:23,440 --> 00:21:31,280 the property price or a competitor comes 525 00:21:26,159 --> 00:21:34,159 in and tries to uh find a way to to uh 526 00:21:31,280 --> 00:21:35,919 squash the deal. Due diligence often 527 00:21:34,159 --> 00:21:38,400 determines whether a pro prospect 528 00:21:35,919 --> 00:21:41,360 becomes a project. Uh and that's on both 529 00:21:38,400 --> 00:21:43,760 sides. Um and then uh the right public 530 00:21:41,360 --> 00:21:45,440 message is important. 531 00:21:43,760 --> 00:21:48,640 Nothing is guaranteed until deals are 532 00:21:45,440 --> 00:21:51,120 ready. But how that word is out there to 533 00:21:48,640 --> 00:21:54,520 the public is an important part of of 534 00:21:51,120 --> 00:21:54,520 that discussion. 535 00:21:54,880 --> 00:22:00,080 Right now we're seeing a lot of and the 536 00:21:57,280 --> 00:22:02,080 mayor had touched on the you the build 537 00:22:00,080 --> 00:22:05,120 legislation and some of the initiatives 538 00:22:02,080 --> 00:22:07,520 in the state. Uh in addition to that we 539 00:22:05,120 --> 00:22:10,640 are just seeing a lot of vacant land 540 00:22:07,520 --> 00:22:13,840 attracting residential interest and 541 00:22:10,640 --> 00:22:15,919 that's you know something that requires 542 00:22:13,840 --> 00:22:18,880 careful consideration because that is a 543 00:22:15,919 --> 00:22:20,799 reflection of evolving markets. Uh it's 544 00:22:18,880 --> 00:22:23,679 a change in kind of the direction. This 545 00:22:20,799 --> 00:22:26,559 is not unique to Kerry. This is not 546 00:22:23,679 --> 00:22:28,480 regional state. It's nationwide. 547 00:22:26,559 --> 00:22:31,120 Uh most of the active interest is in 548 00:22:28,480 --> 00:22:34,000 multif family rental development. Uh but 549 00:22:31,120 --> 00:22:36,559 also town homes and row homes. Uh select 550 00:22:34,000 --> 00:22:39,120 there is a select interest in additional 551 00:22:36,559 --> 00:22:42,000 single family homes. uh and then mixed 552 00:22:39,120 --> 00:22:43,760 use or commercial uh components when 553 00:22:42,000 --> 00:22:46,880 supported by the development economics. 554 00:22:43,760 --> 00:22:49,039 So that's an important consideration 555 00:22:46,880 --> 00:22:51,200 as we push for the commercial to be a 556 00:22:49,039 --> 00:22:55,120 part of the deal of how the development 557 00:22:51,200 --> 00:22:57,280 economics work for the developer. Uh so 558 00:22:55,120 --> 00:22:58,799 some of these considerations that go 559 00:22:57,280 --> 00:23:00,400 along with this is where does 560 00:22:58,799 --> 00:23:02,799 residential development help support 561 00:23:00,400 --> 00:23:04,559 broader community goals? Uh where should 562 00:23:02,799 --> 00:23:06,720 land be preserved for employment, 563 00:23:04,559 --> 00:23:08,640 commercial or tax generations? where 564 00:23:06,720 --> 00:23:11,200 from a policy standpoint where where do 565 00:23:08,640 --> 00:23:12,960 we push back and just say no that's 566 00:23:11,200 --> 00:23:14,880 that's not going to be a residential 567 00:23:12,960 --> 00:23:17,360 site and how should fiscal impact 568 00:23:14,880 --> 00:23:18,960 traffic school impacts market demand and 569 00:23:17,360 --> 00:23:22,000 community character be balanced with 570 00:23:18,960 --> 00:23:24,480 with all that it's it's an important 571 00:23:22,000 --> 00:23:27,280 consideration uh because residential 572 00:23:24,480 --> 00:23:29,679 provides customers activity it provides 573 00:23:27,280 --> 00:23:32,320 investment and in some cases though as I 574 00:23:29,679 --> 00:23:35,520 said it also competes with sites for 575 00:23:32,320 --> 00:23:36,880 commercial industrial use I mean just 576 00:23:35,520 --> 00:23:39,120 looking at we had put some numbers out 577 00:23:36,880 --> 00:23:42,640 there for what fiduciary just the impact 578 00:23:39,120 --> 00:23:44,000 fees alone what are we looking at 579 00:23:42,640 --> 00:23:45,760 » Uh their impact fees I think we're like 580 00:23:44,000 --> 00:23:48,799 over a million dollars total for the 581 00:23:45,760 --> 00:23:51,520 project um but just in general just 582 00:23:48,799 --> 00:23:53,679 speaking to uh the number of years that 583 00:23:51,520 --> 00:23:56,000 I've been in this profession and Dan as 584 00:23:53,679 --> 00:23:59,120 well is it's very cyclical as far as 585 00:23:56,000 --> 00:24:01,919 what the market is producing um you know 586 00:23:59,120 --> 00:24:03,600 if you go back 25 years ago banks were 587 00:24:01,919 --> 00:24:05,760 the main project they were building on 588 00:24:03,600 --> 00:24:07,840 every street corner Um then obviously 589 00:24:05,760 --> 00:24:09,840 the internet kind of came along and 590 00:24:07,840 --> 00:24:11,120 banks kind of went more paperless so 591 00:24:09,840 --> 00:24:13,600 there wasn't a need for a branch in 592 00:24:11,120 --> 00:24:15,440 every location. Um then for a while it 593 00:24:13,600 --> 00:24:17,039 was you know your Walgreens and CVS's 594 00:24:15,440 --> 00:24:18,640 were competing for every street corner 595 00:24:17,039 --> 00:24:23,039 signal intersection trying to get into 596 00:24:18,640 --> 00:24:25,360 every market. Uh then you know 2010s 597 00:24:23,039 --> 00:24:26,720 after the uh recession you saw more 598 00:24:25,360 --> 00:24:28,559 mattress stores and things like that 599 00:24:26,720 --> 00:24:31,200 were popping up everywhere. So there's 600 00:24:28,559 --> 00:24:33,120 different types of movements that come 601 00:24:31,200 --> 00:24:35,039 in for a while. car washes are more 602 00:24:33,120 --> 00:24:36,720 recent. Um, but you're starting to see 603 00:24:35,039 --> 00:24:39,760 that going by the wayside a little bit 604 00:24:36,720 --> 00:24:42,159 and now it's more coffee shops and then 605 00:24:39,760 --> 00:24:43,600 you know that trend will continue and 606 00:24:42,159 --> 00:24:46,240 then it'll switch into something else. 607 00:24:43,600 --> 00:24:48,799 But residential right now is significant 608 00:24:46,240 --> 00:24:50,480 in the Illinois uh from a standpoint 609 00:24:48,799 --> 00:24:52,480 that following the recession there was 610 00:24:50,480 --> 00:24:56,320 not a lot of construction occurring in 611 00:24:52,480 --> 00:24:57,760 the in Illinois for a decade plus. Uh so 612 00:24:56,320 --> 00:24:58,960 there's pent up demand from that 613 00:24:57,760 --> 00:25:00,960 standpoint. So that's where we're seeing 614 00:24:58,960 --> 00:25:03,360 more of that interest in the residential 615 00:25:00,960 --> 00:25:04,799 side of things now where we've had those 616 00:25:03,360 --> 00:25:06,720 two larger projects in the village 617 00:25:04,799 --> 00:25:08,159 approved. We've had other infill 618 00:25:06,720 --> 00:25:10,000 projects that we've had interest in, but 619 00:25:08,159 --> 00:25:11,919 even vacant sites that we have for sale 620 00:25:10,000 --> 00:25:14,880 now for 621 00:25:11,919 --> 00:25:16,720 um whether it be industrial or res 622 00:25:14,880 --> 00:25:18,320 commercial growth, we're still seeing 623 00:25:16,720 --> 00:25:20,799 more interest from the residential 624 00:25:18,320 --> 00:25:22,720 aspect as well from that standpoint to 625 00:25:20,799 --> 00:25:26,000 just determine whether or not that's the 626 00:25:22,720 --> 00:25:27,679 right fit to convert to those types of 627 00:25:26,000 --> 00:25:28,880 developments. uh we still want to see 628 00:25:27,679 --> 00:25:30,799 that commercial development in certain 629 00:25:28,880 --> 00:25:33,840 areas and try to be focused in where we 630 00:25:30,799 --> 00:25:37,302 do allow the residential in if it is 631 00:25:33,840 --> 00:25:38,320 desirable from that standpoint. 632 00:25:37,302 --> 00:25:41,440 » [clears throat] 633 00:25:38,320 --> 00:25:43,197 » So some priorities moving forward like I 634 00:25:41,440 --> 00:25:44,799 said this is an ongoing process. It's 635 00:25:43,197 --> 00:25:46,880 [clears throat] an iterative process. 636 00:25:44,799 --> 00:25:49,760 It's but the ongoing targeted 637 00:25:46,880 --> 00:25:52,320 recruitment uh that doesn't change again 638 00:25:49,760 --> 00:25:54,240 on both sides put positioning ourselves 639 00:25:52,320 --> 00:25:57,600 to be the target and then also going out 640 00:25:54,240 --> 00:26:00,240 and identifying potential opportunities. 641 00:25:57,600 --> 00:26:02,960 Uh property owner broker engagement. 642 00:26:00,240 --> 00:26:05,360 We've really been trying hard, take a 643 00:26:02,960 --> 00:26:07,520 hard run at this to get to some of the 644 00:26:05,360 --> 00:26:09,919 property owners that maybe uh aren't 645 00:26:07,520 --> 00:26:11,919 even aware of what what the interest is 646 00:26:09,919 --> 00:26:13,840 in their property. You've seen some of 647 00:26:11,919 --> 00:26:16,080 the development opportunity sites. We've 648 00:26:13,840 --> 00:26:18,799 worked with property owners to get those 649 00:26:16,080 --> 00:26:20,720 placed on their site. And that's a way 650 00:26:18,799 --> 00:26:23,120 of 651 00:26:20,720 --> 00:26:25,360 looking at the potential where we don't 652 00:26:23,120 --> 00:26:27,039 control the property, but we also want 653 00:26:25,360 --> 00:26:30,159 to deliver a message to anybody that's 654 00:26:27,039 --> 00:26:32,960 driving by or looking at a site or uh 655 00:26:30,159 --> 00:26:35,039 doing their due diligence uh that the 656 00:26:32,960 --> 00:26:38,000 community is an active partner. And that 657 00:26:35,039 --> 00:26:41,679 goes a long way with that relationship 658 00:26:38,000 --> 00:26:43,039 building uh retention and expansion. 659 00:26:41,679 --> 00:26:45,520 Support businesses that are already 660 00:26:43,039 --> 00:26:47,279 invested in carrying. uh always say your 661 00:26:45,520 --> 00:26:49,039 most important business you have the 662 00:26:47,279 --> 00:26:50,960 most important business is the one you 663 00:26:49,039 --> 00:26:52,880 already have. You don't want to lose 664 00:26:50,960 --> 00:26:56,080 businesses and there's a lot of 665 00:26:52,880 --> 00:26:58,799 communities that don't even know why a 666 00:26:56,080 --> 00:27:02,000 business left until it's gone. Uh so you 667 00:26:58,799 --> 00:27:04,080 want to be able to head off any any 668 00:27:02,000 --> 00:27:06,799 issues that might be there and try to 669 00:27:04,080 --> 00:27:09,760 work with uh business retention as well 670 00:27:06,799 --> 00:27:13,039 as attraction strategic incentives as I 671 00:27:09,760 --> 00:27:15,760 said uh utilizing resources we have to 672 00:27:13,039 --> 00:27:18,080 to the to the maximum but also being 673 00:27:15,760 --> 00:27:20,960 very judicious about how we maximize 674 00:27:18,080 --> 00:27:22,400 those use in order to realize the 675 00:27:20,960 --> 00:27:25,279 community benefits and the fiscal 676 00:27:22,400 --> 00:27:27,679 impacts on the land use plan as Brian 677 00:27:25,279 --> 00:27:29,760 just said balancing that balance 678 00:27:27,679 --> 00:27:31,679 residential demand with the commercial 679 00:27:29,760 --> 00:27:35,520 and employment objectives that are 680 00:27:31,679 --> 00:27:38,159 already stated. Uh so in a statement 681 00:27:35,520 --> 00:27:40,480 Kerry is economically healthy. Future 682 00:27:38,159 --> 00:27:42,480 growth depends on continually evolving 683 00:27:40,480 --> 00:27:44,640 and reassessing the village's strategic 684 00:27:42,480 --> 00:27:47,919 position within a very competitive 685 00:27:44,640 --> 00:27:49,919 market. Uh, one of those things if 686 00:27:47,919 --> 00:27:53,200 anybody's had an opportunity to go look 687 00:27:49,919 --> 00:27:55,120 at what we have done in the last couple 688 00:27:53,200 --> 00:27:58,640 years is the development of the Choose 689 00:27:55,120 --> 00:28:01,120 Carry website, branding and logo. Uh, 690 00:27:58,640 --> 00:28:03,360 and on the Choose Carry website is the 691 00:28:01,120 --> 00:28:07,360 is demographic data, community 692 00:28:03,360 --> 00:28:09,919 information, business resources updating 693 00:28:07,360 --> 00:28:11,520 every month on available properties. So 694 00:28:09,919 --> 00:28:13,840 that even somebody that's not even 695 00:28:11,520 --> 00:28:17,279 thinking of Carrie today 696 00:28:13,840 --> 00:28:19,600 might be able to log in next month and 697 00:28:17,279 --> 00:28:21,120 look and see what's going on in carry. 698 00:28:19,600 --> 00:28:23,679 And this is something we continually 699 00:28:21,120 --> 00:28:26,080 promote. Uh and there's a QR code so 700 00:28:23,679 --> 00:28:28,559 that when we're out in the development 701 00:28:26,080 --> 00:28:30,399 community, we can uh people can scan the 702 00:28:28,559 --> 00:28:32,640 QR code, it'll take them to the choose 703 00:28:30,399 --> 00:28:34,720 carry website. And on here is also that 704 00:28:32,640 --> 00:28:37,520 development opportunity site that we 705 00:28:34,720 --> 00:28:39,360 talked about that u just to get the word 706 00:28:37,520 --> 00:28:43,760 out even further. and you can actually 707 00:28:39,360 --> 00:28:47,200 scan the QR code from from the side. 708 00:28:43,760 --> 00:28:49,039 So with that, that's an overview uh of 709 00:28:47,200 --> 00:28:52,080 things that are going on and just the 710 00:28:49,039 --> 00:28:54,559 ongoing process. And so happy to open it 711 00:28:52,080 --> 00:28:56,320 up to questions or discussion for Brian 712 00:28:54,559 --> 00:28:59,520 or I or Eric if there's anything you 713 00:28:56,320 --> 00:29:02,480 want to add to that. 714 00:28:59,520 --> 00:29:04,720 » Good. No, this is this is always good to 715 00:29:02,480 --> 00:29:06,960 reaffirm what we're doing behind the 716 00:29:04,720 --> 00:29:09,039 scenes. It's a big question I get asked 717 00:29:06,960 --> 00:29:10,960 all the time. I always I always throw 718 00:29:09,039 --> 00:29:13,279 out the at my mayor's round table about 719 00:29:10,960 --> 00:29:14,480 the three-legged stool. It is so true. 720 00:29:13,279 --> 00:29:15,760 You have to have a willing property 721 00:29:14,480 --> 00:29:17,840 owner, a willing developer, and a 722 00:29:15,760 --> 00:29:19,440 willing village to get something done. 723 00:29:17,840 --> 00:29:21,679 And sometimes all three of those don't 724 00:29:19,440 --> 00:29:23,760 happen. But, you know, I think that it's 725 00:29:21,679 --> 00:29:25,440 great. It's, you know, hearing what the 726 00:29:23,760 --> 00:29:27,440 development community is saying about 727 00:29:25,440 --> 00:29:30,240 the village of Kerry is very promising. 728 00:29:27,440 --> 00:29:32,080 You know, we we are forward thinking. We 729 00:29:30,240 --> 00:29:34,480 work together collaboratively. We've got 730 00:29:32,080 --> 00:29:36,240 a top-notch staff getting things done 731 00:29:34,480 --> 00:29:38,240 and uh they know we're taking these 732 00:29:36,240 --> 00:29:40,640 things seriously. And thanks to to Dan 733 00:29:38,240 --> 00:29:42,000 and Brian for heading up the the efforts 734 00:29:40,640 --> 00:29:43,679 on that because that's that's one of the 735 00:29:42,000 --> 00:29:45,360 most important things that I get asked 736 00:29:43,679 --> 00:29:47,200 about all the time. What's next? What 737 00:29:45,360 --> 00:29:49,120 are you guys going to do next? And you 738 00:29:47,200 --> 00:29:51,919 know, sometimes it doesn't align with 739 00:29:49,120 --> 00:29:54,640 other personal ideas, but it might align 740 00:29:51,919 --> 00:29:56,960 with the long-term vision of of the 741 00:29:54,640 --> 00:29:59,520 village. And you know that change is 742 00:29:56,960 --> 00:30:01,840 hard sometimes, but we always try to do 743 00:29:59,520 --> 00:30:03,120 what's best. And I always tell the staff 744 00:30:01,840 --> 00:30:04,240 whenever we have a meeting with a 745 00:30:03,120 --> 00:30:05,520 developer or a business that wants to 746 00:30:04,240 --> 00:30:06,799 come in is that it's got to be 747 00:30:05,520 --> 00:30:08,799 meaningful and sustainable to the 748 00:30:06,799 --> 00:30:11,039 village of Kerry. Period. Those are the 749 00:30:08,799 --> 00:30:12,960 two criteria that are super important 750 00:30:11,039 --> 00:30:15,039 when we have conversations. We're not 751 00:30:12,960 --> 00:30:16,559 looking just to fill something up. And 752 00:30:15,039 --> 00:30:18,640 that's why we have the professionalism 753 00:30:16,559 --> 00:30:20,320 and the people that can direct a 754 00:30:18,640 --> 00:30:22,399 developer or business that wants to come 755 00:30:20,320 --> 00:30:23,840 in and say, "How can we make this work?" 756 00:30:22,399 --> 00:30:26,399 And we do. Sometimes you have to 757 00:30:23,840 --> 00:30:27,919 shoehorn things in and it works. You 758 00:30:26,399 --> 00:30:30,320 know, we're we're we're very fortunate 759 00:30:27,919 --> 00:30:32,720 to to have two 100 million dollar 760 00:30:30,320 --> 00:30:34,880 projects running simultaneously in the 761 00:30:32,720 --> 00:30:36,960 village of Kerry. You know, it's we're 762 00:30:34,880 --> 00:30:38,720 making a name for ourselves here and we 763 00:30:36,960 --> 00:30:40,559 have to take these things serious and 764 00:30:38,720 --> 00:30:42,080 you know, we we can't rest on the fact 765 00:30:40,559 --> 00:30:43,600 that we have things going on. We have to 766 00:30:42,080 --> 00:30:46,320 be diligent and look forward to the 767 00:30:43,600 --> 00:30:48,431 future. And like the I love the example 768 00:30:46,320 --> 00:30:49,840 that Dan brought about uh the 769 00:30:48,431 --> 00:30:51,840 [clears throat] damage property. You 770 00:30:49,840 --> 00:30:53,120 know, I've been I'm in my 14th year as 771 00:30:51,840 --> 00:30:55,520 being mayor. been involved in the 772 00:30:53,120 --> 00:30:57,039 village since 2009 773 00:30:55,520 --> 00:30:58,559 and that has been a property that people 774 00:30:57,039 --> 00:31:00,240 wanted to develop forever but the 775 00:30:58,559 --> 00:31:02,720 property owner wouldn't develop. They 776 00:31:00,240 --> 00:31:04,399 didn't want to sell it. You know, Dan 777 00:31:02,720 --> 00:31:06,480 made a couple phone calls several years 778 00:31:04,399 --> 00:31:08,480 ago and said what's going this is what's 779 00:31:06,480 --> 00:31:10,880 going on how these things again building 780 00:31:08,480 --> 00:31:13,440 these relationships have long-term 781 00:31:10,880 --> 00:31:16,000 effects and that affects you know not 782 00:31:13,440 --> 00:31:18,240 only us it affects our school district, 783 00:31:16,000 --> 00:31:20,320 our park district, you know the library 784 00:31:18,240 --> 00:31:21,440 district, fire department. We have to 785 00:31:20,320 --> 00:31:23,360 take all those things into 786 00:31:21,440 --> 00:31:26,240 consideration. And so this is a great 787 00:31:23,360 --> 00:31:27,760 reminder. I I'm appreciative of uh Dan 788 00:31:26,240 --> 00:31:30,080 and Brian putting this together because 789 00:31:27,760 --> 00:31:31,760 it does give us a a better understanding 790 00:31:30,080 --> 00:31:33,600 and it's good to be refreshed all the 791 00:31:31,760 --> 00:31:36,399 time. I know I went off a little bit 792 00:31:33,600 --> 00:31:37,840 wordy here, but what else does Rick? 793 00:31:36,399 --> 00:31:39,039 Don't laugh at me. 794 00:31:37,840 --> 00:31:40,559 » Not just 795 00:31:39,039 --> 00:31:42,159 » This is something that we've worked on 796 00:31:40,559 --> 00:31:42,640 together for many years. Go ahead. 797 00:31:42,159 --> 00:31:46,159 Comments. 798 00:31:42,640 --> 00:31:48,240 » I just was first off, thanks Dan, Brian. 799 00:31:46,159 --> 00:31:51,039 you guys do a a great [clears throat] 800 00:31:48,240 --> 00:31:54,080 job and um it's not an easy job. I think 801 00:31:51,039 --> 00:31:56,799 we all know that. I'm just curious with 802 00:31:54,080 --> 00:31:59,840 um with the two residential deals that 803 00:31:56,799 --> 00:32:01,519 we have that are are now finally getting 804 00:31:59,840 --> 00:32:06,000 some traction and starting to move 805 00:32:01,519 --> 00:32:09,200 along. What kind of um feedback or input 806 00:32:06,000 --> 00:32:12,799 do you get from the business community, 807 00:32:09,200 --> 00:32:15,039 you know, in in town today from those 808 00:32:12,799 --> 00:32:18,000 two developments that are are starting 809 00:32:15,039 --> 00:32:20,399 to uh you know to get off the ground? 810 00:32:18,000 --> 00:32:22,320 » Uh it's a good question. So from the the 811 00:32:20,399 --> 00:32:24,720 two projects, obviously they're 812 00:32:22,320 --> 00:32:26,799 generating uh more housing, which is 813 00:32:24,720 --> 00:32:29,200 more people that or more customers that 814 00:32:26,799 --> 00:32:31,519 the businesses could potentially see. Uh 815 00:32:29,200 --> 00:32:33,279 so the feedback that we've had from uh 816 00:32:31,519 --> 00:32:36,720 the business community in both of those 817 00:32:33,279 --> 00:32:40,080 projects is um you know specifically the 818 00:32:36,720 --> 00:32:41,440 one downtown the project will generate 819 00:32:40,080 --> 00:32:43,919 more customers for the businesses 820 00:32:41,440 --> 00:32:45,679 downtown. So they'd like to see uh that 821 00:32:43,919 --> 00:32:48,720 type of growth occurring from that 822 00:32:45,679 --> 00:32:51,760 standpoint because it'll um in increase 823 00:32:48,720 --> 00:32:54,799 their customer base. um the one along 824 00:32:51,760 --> 00:32:56,559 Route 31 uh the fiduciary project uh 825 00:32:54,799 --> 00:32:58,480 we've had interest already for potential 826 00:32:56,559 --> 00:33:03,120 new businesses and the frontage there as 827 00:32:58,480 --> 00:33:04,960 well. Um so seeing that growth um and 828 00:33:03,120 --> 00:33:07,440 basically you have more people in the 829 00:33:04,960 --> 00:33:09,760 area it drives up the demographics that 830 00:33:07,440 --> 00:33:11,600 attracts more businesses as well. Um, 831 00:33:09,760 --> 00:33:13,360 one of the things um that generally 832 00:33:11,600 --> 00:33:14,960 we've seen with uh the business 833 00:33:13,360 --> 00:33:18,159 community is if you're looking for a 834 00:33:14,960 --> 00:33:20,720 specific retailer as an example, they 835 00:33:18,159 --> 00:33:23,840 will select a market if it has the 836 00:33:20,720 --> 00:33:26,480 demographics. So, um, in my career, I've 837 00:33:23,840 --> 00:33:28,720 worked with multiple, um, communities 838 00:33:26,480 --> 00:33:30,640 and worked with various retailers to try 839 00:33:28,720 --> 00:33:33,039 and come into those communities and 840 00:33:30,640 --> 00:33:35,200 they'll look at what's the population 841 00:33:33,039 --> 00:33:37,039 within a certain distance. Uh, what's 842 00:33:35,200 --> 00:33:40,559 the education level of those people that 843 00:33:37,039 --> 00:33:42,240 live in that distance and um, you know, 844 00:33:40,559 --> 00:33:44,399 other factors from that standpoint. And 845 00:33:42,240 --> 00:33:46,559 if one of those factors isn't met, the 846 00:33:44,399 --> 00:33:50,000 business won't even consider the site. 847 00:33:46,559 --> 00:33:52,640 Um so sometimes having more individuals 848 00:33:50,000 --> 00:33:55,600 within a smaller area or within the 849 00:33:52,640 --> 00:33:58,000 community will drive more of that um 850 00:33:55,600 --> 00:33:59,440 economic reach for those entities or 851 00:33:58,000 --> 00:34:02,799 businesses that we want to see in the 852 00:33:59,440 --> 00:34:04,720 community. Uh we're right now um we have 853 00:34:02,799 --> 00:34:07,519 a you know vacant site across the way 854 00:34:04,720 --> 00:34:09,679 here from that standpoint. The market 855 00:34:07,519 --> 00:34:12,800 for a property here on three Oaks Road 856 00:34:09,679 --> 00:34:14,399 isn't just Kerry. Um it also goes beyond 857 00:34:12,800 --> 00:34:16,639 the boundary. So then the business won't 858 00:34:14,399 --> 00:34:18,159 even look at the municipal boundary. 859 00:34:16,639 --> 00:34:20,639 They're looking at a site to see what 860 00:34:18,159 --> 00:34:24,639 who lives within a specific area of that 861 00:34:20,639 --> 00:34:26,720 site. Um so those projects that we've 862 00:34:24,639 --> 00:34:28,879 had are helping to increase the 863 00:34:26,720 --> 00:34:30,639 demographics from a standpoint that'll 864 00:34:28,879 --> 00:34:32,159 make the sites more marketable for 865 00:34:30,639 --> 00:34:33,919 businesses that there's a larger 866 00:34:32,159 --> 00:34:36,560 customer base that they would want to be 867 00:34:33,919 --> 00:34:39,679 adjacent to. 868 00:34:36,560 --> 00:34:41,839 So in one of the interesting things a 869 00:34:39,679 --> 00:34:43,599 lot of communities a lot of community a 870 00:34:41,839 --> 00:34:47,119 lot of businesses will kind of piggyback 871 00:34:43,599 --> 00:34:49,839 on another one um so one of them might 872 00:34:47,119 --> 00:34:51,599 identify the community first and see the 873 00:34:49,839 --> 00:34:54,399 type of development that's happening and 874 00:34:51,599 --> 00:34:57,520 then that other one will rather than go 875 00:34:54,399 --> 00:34:59,040 through all the the market analysis 876 00:34:57,520 --> 00:35:02,240 they're they're targeting the same 877 00:34:59,040 --> 00:35:04,560 market is they'll piggyback on that. 878 00:35:02,240 --> 00:35:07,040 What also happens within that context 879 00:35:04,560 --> 00:35:11,839 and this is a real world story that's 880 00:35:07,040 --> 00:35:14,320 continuing to evolve here is uh 881 00:35:11,839 --> 00:35:16,079 because of locations in proximity to 882 00:35:14,320 --> 00:35:19,040 Crystal Lake, Elgangquin and other 883 00:35:16,079 --> 00:35:20,960 markets, there is a market area that the 884 00:35:19,040 --> 00:35:25,680 non-competitive market area that they 885 00:35:20,960 --> 00:35:28,000 won't colllocate two locations. Um, I 886 00:35:25,680 --> 00:35:29,680 kept pushing one business further and 887 00:35:28,000 --> 00:35:32,240 further and further to the edge of the 888 00:35:29,680 --> 00:35:34,720 community to get to the edge of their 889 00:35:32,240 --> 00:35:36,960 market area where it was really it was a 890 00:35:34,720 --> 00:35:39,760 hard line of where how far they would 891 00:35:36,960 --> 00:35:42,400 look at a site. It doesn't make sense in 892 00:35:39,760 --> 00:35:45,280 the context of anybody sitting there and 893 00:35:42,400 --> 00:35:49,200 looking at it, but it's a formula they 894 00:35:45,280 --> 00:35:52,880 use and it works. Um, they came back to 895 00:35:49,200 --> 00:35:54,880 the 11th hour said we got corporate 896 00:35:52,880 --> 00:35:58,240 killed the deal. Uh, So, we got to pull 897 00:35:54,880 --> 00:35:59,839 the plug. I had gotten a call um that 898 00:35:58,240 --> 00:36:03,280 somebody else I had been working with 899 00:35:59,839 --> 00:36:04,880 closely um saying, you know, this other 900 00:36:03,280 --> 00:36:06,480 again because of the names of the 901 00:36:04,880 --> 00:36:09,200 businesses and the locations that are 902 00:36:06,480 --> 00:36:10,800 still being evaluated. Uh said they're 903 00:36:09,200 --> 00:36:12,560 back. They're they pulled out and 904 00:36:10,800 --> 00:36:14,160 they're like, "Yeah, we we kind of 905 00:36:12,560 --> 00:36:15,280 looked at it the same way. If they're 906 00:36:14,160 --> 00:36:17,920 not going to be there, we don't want to 907 00:36:15,280 --> 00:36:20,240 do it." Business came back. So, we 908 00:36:17,920 --> 00:36:22,000 re-evaluated the area. Called them back. 909 00:36:20,240 --> 00:36:24,160 I called the other business. Hey, 910 00:36:22,000 --> 00:36:27,200 they're looking at it again. it's start 911 00:36:24,160 --> 00:36:29,920 restarted the process. So there's so 912 00:36:27,200 --> 00:36:32,880 many kind of moving parts behind this 913 00:36:29,920 --> 00:36:34,480 and not the least of which is looking at 914 00:36:32,880 --> 00:36:36,480 that kind of density that's coming in 915 00:36:34,480 --> 00:36:38,960 with the residential. You know if that 916 00:36:36,480 --> 00:36:41,760 wasn't there that wouldn't have been on 917 00:36:38,960 --> 00:36:43,760 the radar but they're seeing those 918 00:36:41,760 --> 00:36:45,040 dollars and that types of impact. I 919 00:36:43,760 --> 00:36:47,760 think we actually had a number on the 920 00:36:45,040 --> 00:36:48,960 economic impact. It was like 921 00:36:47,760 --> 00:36:51,920 » Was 35 million over 922 00:36:48,960 --> 00:36:54,000 » 35 million over 10 years of economic 923 00:36:51,920 --> 00:36:56,800 impact. So 924 00:36:54,000 --> 00:36:58,320 don't discount the impact of residential 925 00:36:56,800 --> 00:37:00,400 notwithstanding the you know the 926 00:36:58,320 --> 00:37:02,800 conflicts of land use but the actual 927 00:37:00,400 --> 00:37:05,359 impact of development and how that 928 00:37:02,800 --> 00:37:07,680 influences decision making on the 929 00:37:05,359 --> 00:37:10,079 business. 930 00:37:07,680 --> 00:37:13,200 » You may also recall excuse me trusty 931 00:37:10,079 --> 00:37:14,720 that we had extensive outreach from the 932 00:37:13,200 --> 00:37:16,079 uh car station project that the 933 00:37:14,720 --> 00:37:18,320 developer went through in their due 934 00:37:16,079 --> 00:37:20,800 diligence period. They did some direct 935 00:37:18,320 --> 00:37:22,400 outreach with local businesses just to 936 00:37:20,800 --> 00:37:23,920 let them know what the project was 937 00:37:22,400 --> 00:37:26,400 about, what was being proposed and get 938 00:37:23,920 --> 00:37:28,000 feedback and that feedback, it's not 939 00:37:26,400 --> 00:37:30,480 anecdotal, it was direct that they were 940 00:37:28,000 --> 00:37:32,079 very supportive of the the people and 941 00:37:30,480 --> 00:37:33,520 the location that would actually draw 942 00:37:32,079 --> 00:37:35,520 more business to them. So they were 943 00:37:33,520 --> 00:37:38,720 excited about the the prospect. So that 944 00:37:35,520 --> 00:37:41,359 that's direct feedback and uh I think um 945 00:37:38,720 --> 00:37:43,119 kind of correlates to the the anecdotal 946 00:37:41,359 --> 00:37:44,560 feedback that we hear. uh we've heard it 947 00:37:43,119 --> 00:37:46,880 directly and I think it is positive and 948 00:37:44,560 --> 00:37:48,400 it will continue to uh to snowball. 949 00:37:46,880 --> 00:37:49,200 It'll it'll be a catalyst for a lot 950 00:37:48,400 --> 00:37:50,800 more. 951 00:37:49,200 --> 00:37:52,560 » And not to mention the employment 952 00:37:50,800 --> 00:37:54,160 opportunities. That's what a lot of the 953 00:37:52,560 --> 00:37:55,520 downtown businesses have said that this 954 00:37:54,160 --> 00:37:57,680 gives them an opportunity to draw in 955 00:37:55,520 --> 00:37:59,520 more employees that could walk to work 956 00:37:57,680 --> 00:38:01,680 and handle those shifts that they're 957 00:37:59,520 --> 00:38:03,680 trying to fill because our our downtown 958 00:38:01,680 --> 00:38:05,119 is bustling right now. They are just 959 00:38:03,680 --> 00:38:07,599 they're bursting and there's so much 960 00:38:05,119 --> 00:38:09,440 going on which is great to see. But you 961 00:38:07,599 --> 00:38:10,480 know then there's the people that well 962 00:38:09,440 --> 00:38:12,000 what's next? What are you going to do 963 00:38:10,480 --> 00:38:13,839 next? Where are we going to put this? 964 00:38:12,000 --> 00:38:16,000 and that. So there there are great 965 00:38:13,839 --> 00:38:18,400 opportunities with this too. 966 00:38:16,000 --> 00:38:19,731 » Any other comments? 967 00:38:18,400 --> 00:38:20,720 » I would just my comment would 968 00:38:19,731 --> 00:38:23,200 [clears throat] be first of all thank 969 00:38:20,720 --> 00:38:24,720 you great presentation. Um just kind of 970 00:38:23,200 --> 00:38:27,040 reiterate I think it's really important 971 00:38:24,720 --> 00:38:28,400 not just for us to hear but also for the 972 00:38:27,040 --> 00:38:30,560 community at large if anyone wants to 973 00:38:28,400 --> 00:38:32,160 tune in find out what's going on they 974 00:38:30,560 --> 00:38:34,160 can be directed to get an idea of 975 00:38:32,160 --> 00:38:37,520 there's a plan. This is not willy-nilly. 976 00:38:34,160 --> 00:38:41,280 We have very um strategic objectives in 977 00:38:37,520 --> 00:38:43,760 place. And to me, it just solidifies why 978 00:38:41,280 --> 00:38:45,680 having you in this role, Dan, and 979 00:38:43,760 --> 00:38:47,440 working with Ryan, why it's so important 980 00:38:45,680 --> 00:38:49,440 that we do that because we're 981 00:38:47,440 --> 00:38:51,520 prioritizing that because that's our 982 00:38:49,440 --> 00:38:52,880 future and we want to we want to look at 983 00:38:51,520 --> 00:38:57,640 a long-term planning versus just 984 00:38:52,880 --> 00:38:57,640 something short term. So, thank you. 985 00:38:57,680 --> 00:39:00,960 » Other comments? 986 00:38:59,520 --> 00:39:02,720 Okay. Okay. I will entertain a motion to 987 00:39:00,960 --> 00:39:04,960 adjurnn into executive session to 988 00:39:02,720 --> 00:39:08,440 discuss litigation pending or eminent 5 989 00:39:04,960 --> 00:39:08,440 Illinois CS120/2C11 990 00:39:08,480 --> 00:39:15,160 and real estate purchase or lease by 5 991 00:39:11,599 --> 00:39:15,160 Illinois CS120C5. 992 00:39:16,320 --> 00:39:18,800 » So moved. 993 00:39:17,280 --> 00:39:21,040 » All in favor? 994 00:39:18,800 --> 00:39:23,200 » Any opposed? Uh we will adjourn this 995 00:39:21,040 --> 00:39:24,720 regular board committee meeting from 996 00:39:23,200 --> 00:39:30,680 executive session. So there's no more 997 00:39:24,720 --> 00:39:30,680 public input here. It is uh 7-Eleven. 998 00:39:33,760 --> 00:39:37,119 Yeah. 999 00:39:34,560 --> 00:39:37,119 » The reason