1 00:00:05,920 --> 00:00:09,000 All right. 2 00:00:12,719 --> 00:00:20,480 » Good afternoon everyone and thank you for being here especially on a Saturday. 3 00:00:17,920 --> 00:00:26,880 Um I know logistically we were a little bit challenged with park council 4 00:00:24,080 --> 00:00:30,240 chambers. Fact is, I didn't want to sit there if we had 100 people show up and 5 00:00:28,560 --> 00:00:36,920 tell 15 people they couldn't commit the change. 6 00:00:31,519 --> 00:00:36,920 » So you can't hear 7 00:00:39,840 --> 00:00:42,840 this. 8 00:00:43,360 --> 00:00:50,000 » So I what I was saying was um the logistics we were trying to figure out 9 00:00:48,079 --> 00:00:53,760 because we have a capacity issue town hall. So if we would have had more than 10 00:00:51,760 --> 00:00:57,760 85 people, we would have had to turn some folks away. We didn't want to do 11 00:00:55,199 --> 00:01:02,239 that. So, um, today is about sharing information, providing some clarity, and 12 00:01:00,559 --> 00:01:06,720 walking through a conceptual discussion regarding the property at 407 and 13 00:01:04,000 --> 00:01:10,960 Simmons Road, which we'll refer to from here on out as the direct retail 14 00:01:08,479 --> 00:01:16,560 partners development. Before we get started, I want to briefly outline how 15 00:01:14,080 --> 00:01:20,799 today will flow and also thank you for being here. First, a sincere thank you 16 00:01:18,640 --> 00:01:24,080 to Oak Chapel Bible Church for graciously allowing us to use their 17 00:01:22,320 --> 00:01:27,759 facility, especially during a very busy holiday season. We truly appreciate 18 00:01:26,159 --> 00:01:32,640 their hospitality and willingness to support this meeting. Today's discussion 19 00:01:30,560 --> 00:01:36,479 is conceptual. I'll begin with a few opening remarks as mayor, then we'll 20 00:01:34,720 --> 00:01:40,479 hand things over to the development team from direct retail partners. After their 21 00:01:39,119 --> 00:01:45,119 presentation, we'll allow time for highle conceptual questions and 22 00:01:42,240 --> 00:01:49,119 discussion. And out of respect for the church and their scheduled activities, 23 00:01:47,280 --> 00:01:53,840 we do need to conclude and exit the building prior to 300 p.m. And we 24 00:01:51,600 --> 00:01:59,720 appreciate everybody's help in keeping us on schedule. 25 00:01:56,720 --> 00:01:59,720 » Thanks. 26 00:02:00,479 --> 00:02:06,880 » Before we talk about any ideas for the future of this site, it's important to 27 00:02:04,479 --> 00:02:10,720 be very clear about where things stand today. 28 00:02:08,399 --> 00:02:15,840 This property is not currently zoned for commercial use and no zoning approvals 29 00:02:13,280 --> 00:02:21,599 have been granted. It remains primarily zoned act one and act two and any change 30 00:02:18,959 --> 00:02:26,959 no matter what the type of development would have to go through the full public 31 00:02:23,920 --> 00:02:32,160 process required by law. That includes formal applications, posted agendas, 32 00:02:29,920 --> 00:02:36,640 public hearings before the planning and zoning commission and final 33 00:02:33,840 --> 00:02:40,879 consideration by the town council. No previous mayor, council, or 34 00:02:38,640 --> 00:02:45,519 commission have approved commercial zoning for this property. 35 00:02:43,280 --> 00:02:49,840 Over the past several years, certainly the last five, and even earlier, there 36 00:02:47,840 --> 00:02:54,080 have been ongoing conversations at a high level about the long-term future of 37 00:02:52,239 --> 00:02:59,519 this land. Earlier this year, the family that owned 38 00:02:56,640 --> 00:03:04,959 the property contacted the town to explore selling it as a single track. In 39 00:03:03,040 --> 00:03:08,159 the past, it was always discussed that, well, maybe they're going to sell off 40 00:03:06,319 --> 00:03:11,519 this, but keep the house, and so on and so forth. And when uh prospective 41 00:03:10,159 --> 00:03:17,040 developers would come in, they were kind of more interested in all of it versus 42 00:03:13,120 --> 00:03:22,080 part of it. Um, so the town has been consistent with what we share, and we 43 00:03:19,519 --> 00:03:27,400 don't make any promises. Every prospective developer has been told the 44 00:03:24,239 --> 00:03:27,400 same thing 45 00:03:30,000 --> 00:03:38,239 and I know David can attest to this. If the land were to develop residentially, 46 00:03:35,760 --> 00:03:43,360 we explained to all prospective developers, it would have to be minimum 47 00:03:40,319 --> 00:03:48,000 1acre lots would be required and multi-tenant and multifamily housing 48 00:03:45,519 --> 00:03:52,400 would not be permitted. The town would not offer any tax 49 00:03:50,239 --> 00:03:58,000 abatements. The town does not have funding to invest 50 00:03:54,560 --> 00:04:02,959 in the development of the site. Any mixeduse or business development 51 00:04:00,319 --> 00:04:09,360 would require the developer to independently secure and fund wastewater 52 00:04:05,519 --> 00:04:14,000 or sewer capacity. Proper drainage capture and mitigation would be 53 00:04:11,920 --> 00:04:19,040 required to protect neighboring properties including Kut estates and the 54 00:04:16,639 --> 00:04:22,880 Broly property and all drainage solutions subject to town standards and 55 00:04:21,199 --> 00:04:26,000 review. So these are the discussions that we would have when we would get 56 00:04:24,080 --> 00:04:31,199 these inquiries. No buildings taller than two stories 57 00:04:28,400 --> 00:04:36,880 would would be required. If you wanted to go above two stories, you would need 58 00:04:34,000 --> 00:04:41,120 to allow for additional fire protection resources, potentially including new 59 00:04:39,199 --> 00:04:45,120 equipment for the Double Oak Volunteer Fire Department. 60 00:04:42,960 --> 00:04:50,160 Double Oak is a dark sky community and lighting standards will be enforced. 61 00:04:48,240 --> 00:04:54,880 Traffic access would need to be primarily oriented to 407 and not 62 00:04:52,800 --> 00:05:00,400 surrounding neighborhoods. In most cases, those inquiries never 63 00:04:57,759 --> 00:05:05,639 went anywhere and no follow-up occurred. All preliminary conversations regarding 64 00:05:02,639 --> 00:05:05,639 utilities, 65 00:05:07,360 --> 00:05:16,560 especially wastewater, were exploratory only and did not represent approval, 66 00:05:12,479 --> 00:05:19,680 commitment, or predetermined outcome. What's being discussed today is 67 00:05:18,080 --> 00:05:23,919 conceptual. No applications have been filed, no 68 00:05:21,680 --> 00:05:29,039 zoning changes have been requested, and no decisions have been made by any 69 00:05:26,720 --> 00:05:33,199 entity of our town. As approved by town council a few 70 00:05:30,880 --> 00:05:37,280 meetings ago, the town has engaged an outside city planner to assist with the 71 00:05:35,199 --> 00:05:42,080 future planning and to ensure any potential requests are evaluated 72 00:05:39,199 --> 00:05:47,120 consistently and professionally. Randy Rivera is sits right over here at the 73 00:05:44,479 --> 00:05:51,840 corner and she is that person um that will be working with us on uh this 74 00:05:49,919 --> 00:05:56,240 project. Over the past two weeks, preliminary 75 00:05:54,400 --> 00:06:00,880 discussions have taken place to outline what steps a developer would be required 76 00:05:58,320 --> 00:06:05,440 to take if they choose to move forward. Obviously, that's our meeting from two 77 00:06:02,960 --> 00:06:09,440 weeks ago. Direct Retail Partners has prepared some initial conceptual 78 00:06:07,759 --> 00:06:14,000 architectural ideas which are being shared today specifically to gather 79 00:06:11,759 --> 00:06:18,800 citizen input and feedback early in the process. They have also had some 80 00:06:16,400 --> 00:06:23,840 meetings with some of the homeowners that live in and around the property. 81 00:06:22,080 --> 00:06:28,000 This meeting is intended to provide transparency, 82 00:06:25,600 --> 00:06:31,759 share information, and listen. Any future requests would still be required 83 00:06:29,759 --> 00:06:35,520 to be formally submitted and reviewed through the town's established planning, 84 00:06:33,280 --> 00:06:39,160 zoning, and public hearing process, just like any other project. 85 00:06:41,840 --> 00:06:49,520 It's also important to understand why this property matters from a longerterm 86 00:06:46,720 --> 00:06:54,639 planning and budgeting perspective. Development, if proposed, approved, and 87 00:06:51,759 --> 00:06:59,680 ultimately built, could contribute sales tax and commercial property tax revenue 88 00:06:56,560 --> 00:07:05,199 to the town. Unlike residential growth alone, non-residential development can 89 00:07:02,479 --> 00:07:10,319 help broaden the tax base and reduce the reliance on homeowners to carry the full 90 00:07:07,120 --> 00:07:16,639 cost of municipal services. As shown on our boards up here when you all get to 91 00:07:12,800 --> 00:07:21,680 take a look, um double oak still remains at or very close to the top of the 92 00:07:19,440 --> 00:07:26,000 lowest property tax rates in our surrounding towns and cities. that 93 00:07:23,840 --> 00:07:29,680 reflects years of careful budgeting, conservative financial planning. As 94 00:07:27,919 --> 00:07:34,240 costs rise and infrastructure needs grow, however, maintaining that position 95 00:07:32,080 --> 00:07:38,400 becomes even harder. Thoughtful, wellplanned development, if 96 00:07:36,240 --> 00:07:42,400 approved, can help support essential services while helping keep residential 97 00:07:40,160 --> 00:07:47,680 property tax rates as low as reasonably be reasonably possible. 98 00:07:45,840 --> 00:07:52,720 None of this is a promise or a prediction. Any potential benefit 99 00:07:50,080 --> 00:07:58,810 depends entirely on what is proposed, how it performs, and whether it is 100 00:07:54,960 --> 00:08:00,830 approved through the public process. [snorts] 101 00:08:01,759 --> 00:08:09,440 Our responsibility as town government is to balance community character, fiscal 102 00:08:06,800 --> 00:08:13,039 responsibility, and transparency. The concept being shared here today is 103 00:08:10,960 --> 00:08:17,840 intended to provide context and understanding only and does not 104 00:08:15,520 --> 00:08:22,560 represent a commitment by the town or an approval of any kind. To help everyone 105 00:08:20,639 --> 00:08:26,879 better understand the developer involved in this early conversations, 106 00:08:24,879 --> 00:08:31,199 I'd like to briefly introduce Direct Retail Partners. Direct Retail Partners 107 00:08:29,680 --> 00:08:35,279 is a privately held commercial real estate development firm with more than 108 00:08:33,440 --> 00:08:40,320 two decades of experience in retail and mixeduse projects primarily across the 109 00:08:37,919 --> 00:08:45,600 southwestern part of the United States. Founded in 1997, the firm focuses on 110 00:08:43,440 --> 00:08:50,080 developing, acquiring, and managing well-located commercial properties, 111 00:08:47,760 --> 00:08:55,680 including projects comparable in size and scope to the approximately 23 acre 112 00:08:52,640 --> 00:09:00,160 track being discussed here in Dubo. The firm is led by David Watson, a founding 113 00:08:57,920 --> 00:09:04,399 partner and ex who has extensive experience in commercial real estate 114 00:09:02,160 --> 00:09:08,800 development, investment, and long-term asset management. And also by Chris 115 00:09:06,959 --> 00:09:14,399 Hips, a senior partner with deep expertise in retail development, leasing 116 00:09:11,440 --> 00:09:18,640 strategy, and project execution. Together they bring decades of hands-on 117 00:09:16,399 --> 00:09:21,880 experience guiding midscale projects through planning 118 00:09:24,480 --> 00:09:30,480 planning entitlement construction while working collaborative with the local 119 00:09:28,240 --> 00:09:34,240 collaboratively with local governments and communities. 120 00:09:32,399 --> 00:09:37,839 With the background that I just uh shared with you, I would like to 121 00:09:35,839 --> 00:09:41,200 introduce David Watson and Chris Hips and invite them to walk through the 122 00:09:39,120 --> 00:09:48,399 conceptual ideas they're exploring for this site. 123 00:09:44,000 --> 00:09:52,080 Thank you, mayor. Appreciate it. Mayor, >> I have kind of a loud voice. Can y'all 124 00:09:50,080 --> 00:09:56,320 hear me without that microphone? >> Not very well. 125 00:09:53,440 --> 00:10:00,959 » Go ahead. >> That's the first time I've ever been 126 00:09:57,519 --> 00:10:07,279 told that. Um, um, so our our firm is Direct Retail 127 00:10:03,279 --> 00:10:13,040 Partners and uh we've been active uh in this business since 97. Um, we've been 128 00:10:10,800 --> 00:10:16,959 real active in this trade area since 2002. And so I thought I would just kind 129 00:10:15,600 --> 00:10:21,120 of give you some of the projects that we've done. So rather than listening to 130 00:10:18,560 --> 00:10:25,519 me talk, you can actually see what we've what we built over the years. So, um, I 131 00:10:23,920 --> 00:10:31,760 think the first project we built was the Target Center up at $24.99 and 407. Um, 132 00:10:29,760 --> 00:10:35,279 at that time, the community of Flower Mount was very interested in in a 133 00:10:33,279 --> 00:10:39,200 shopping center that looked that didn't look like it was new. They wanted 134 00:10:36,720 --> 00:10:42,880 something that looked older that uh had been there for quite some time. And so 135 00:10:41,040 --> 00:10:47,440 you can kind of see that architectural theme through that development. Um we 136 00:10:45,920 --> 00:10:51,600 went across the street after that and built the Lowe's anchor shopping center. 137 00:10:49,360 --> 00:10:55,279 And when that center was constructed, town very much wanted sort of a ranch 138 00:10:53,920 --> 00:11:00,399 theme about it. They were concerned about water. So we put that sistern and 139 00:10:57,120 --> 00:11:05,600 sort of water tower in the back. Um after that we went down and built the um 140 00:11:02,640 --> 00:11:11,120 Robertson's Creek Center. Um just just on Dixon at 24.99. 141 00:11:08,000 --> 00:11:16,240 Um um so that totaled about a million and a million3 and square feet at that 142 00:11:14,000 --> 00:11:19,440 intersection. The Robertson's Creek at the time the the owners wanted to 143 00:11:17,680 --> 00:11:22,240 memorialize the other owners of the community that that had owned land in 144 00:11:21,040 --> 00:11:25,680 the area. So we have a little thing called Heritage Walk that goes through 145 00:11:24,320 --> 00:11:29,680 that property. Please >> sorry we get to the microphone because I 146 00:11:27,839 --> 00:11:36,640 can't hear you. Um yeah, so um that project we um we did 147 00:11:35,200 --> 00:11:41,920 a little a thing called the heritage walk where we put some obelisk in the 148 00:11:38,399 --> 00:11:46,640 property and put um um panels up that talked about how um the families that 149 00:11:44,399 --> 00:11:52,720 owned the property. We also built the Tom Thumb Center um over in front of 150 00:11:48,800 --> 00:11:56,880 Bridlewood um back in the day. Um, and so, uh, that along with Highland Court, 151 00:11:55,120 --> 00:12:02,800 which is a residential community on Rippy Road. So, I think that's six 152 00:12:00,560 --> 00:12:06,399 projects in the area, and I just want to go through them, not because we did six 153 00:12:04,399 --> 00:12:10,240 projects, but because you can kind of see, you know, the quality of our 154 00:12:08,399 --> 00:12:16,079 product or lack thereof based on your opinion. Um, 155 00:12:13,279 --> 00:12:22,480 so, as the mayor shared, we're early on here. Um, we've contracted to purchase 156 00:12:19,440 --> 00:12:28,880 the property. Um it's a difficult piece uh just to be honest with you. Um as you 157 00:12:26,079 --> 00:12:35,279 know it does not have sanitary sewer and for many um that just precluded any 158 00:12:32,399 --> 00:12:38,880 development interest whatsoever. Um we had some clients some grocery clients a 159 00:12:37,600 --> 00:12:43,120 couple of them that were expressing interest in the intersection. So we kind 160 00:12:41,120 --> 00:12:50,000 of sunk our teeth into it a little bit and we were able to locate sanitary 161 00:12:45,839 --> 00:12:55,528 sewer in Lantana across the street. Um we've spent I don't know about 20 grand 162 00:12:52,800 --> 00:12:59,120 with the city trying to understand [clears throat] um how much capacity 163 00:12:56,880 --> 00:13:03,120 there is in the sanitary sewer line and it's been determined that there's enough 164 00:13:01,040 --> 00:13:08,639 capacity to handle our development and the folks in Lantana have been really 165 00:13:05,200 --> 00:13:17,360 really cooperative um uh with us kind of excited about another food store. Um 166 00:13:12,880 --> 00:13:23,200 so that along with um the the the current topography I guess um from 167 00:13:20,000 --> 00:13:29,200 Simmons Road moving west the land falls 20 ft. 168 00:13:25,279 --> 00:13:33,120 So that's a pretty dramatic drop. And so you'll see um in order to manage the 169 00:13:31,360 --> 00:13:38,480 storm water we had to come up with a grading plan and and two two rather 170 00:13:35,440 --> 00:13:42,079 large storm water ponds. And the what the stormwater ponds do without getting 171 00:13:40,160 --> 00:13:46,079 into a bunch of engineering detail is is basically it holds the water that's 172 00:13:43,680 --> 00:13:51,519 generated by the development in those ponds and releases it out of those ponds 173 00:13:48,720 --> 00:13:56,480 just as if the development wasn't there. So it it the water flows downstream at 174 00:13:54,639 --> 00:13:59,839 the same rate that it would as if it was just natural land. That's the permanent 175 00:13:58,399 --> 00:14:04,000 that's the purpose of those storm water pumps. 176 00:14:01,360 --> 00:14:07,680 Um I don't want to talk a whole bunch. I mean I'm happy to kind of show you. 177 00:14:05,519 --> 00:14:09,519 Chris, you want to direct as I talk a little bit? 178 00:14:09,120 --> 00:14:13,360 » Um, >> so these are the storm water ponds. 179 00:14:11,920 --> 00:14:18,720 One's at the southwest corner. This is the Broly track and there's the pond. 180 00:14:16,320 --> 00:14:23,120 And this our other >> This is one storm water pond at the 181 00:14:20,800 --> 00:14:28,399 southwest corner of the site just to the north of the Browley Farms storm or 182 00:14:26,560 --> 00:14:32,320 retention pond. And then our second retention pond as you see here is 183 00:14:30,480 --> 00:14:35,760 located parallel to it. So those are the two areas that David was talking about 184 00:14:34,079 --> 00:14:39,360 where when storm water starts to run off the site obviously east to west given 185 00:14:37,440 --> 00:14:42,959 the fall where that storm water is captured that's being generated from the 186 00:14:41,440 --> 00:14:47,839 development. >> The balance of it you can probably see 187 00:14:45,519 --> 00:14:51,680 um 407 obviously goes across the top and that's Simmons Road running north and 188 00:14:49,360 --> 00:14:57,839 south. The eastern half of it if you will is the grocery store in the box and 189 00:14:55,519 --> 00:15:03,040 um then that shallow bait up retail just to the east. It it it won't look very 190 00:15:00,240 --> 00:15:08,240 dissimilar. um or it looks very similar to um brute or ran in 1171 if you wanted 191 00:15:06,000 --> 00:15:12,639 to see what the product looked like kind of a similar size building and a similar 192 00:15:10,160 --> 00:15:16,880 size grocery store that tom that tom there and the retail building associated 193 00:15:14,560 --> 00:15:21,279 with it. So it'll give you a scale and idea of what what that looks like. The 194 00:15:19,519 --> 00:15:26,079 three sites across the top are simply pad sites. Um people that would 195 00:15:23,760 --> 00:15:30,480 typically be found there are banks, restaurants, Chick-fil-A, Chipotle, 196 00:15:28,560 --> 00:15:34,639 people like that. So, those are those three sites right across the front of 197 00:15:32,000 --> 00:15:38,800 407. The other two buildings are just other commercial buildings. Um, they're 198 00:15:37,279 --> 00:15:44,160 a little bit different in that they provide um additional showroom or 199 00:15:42,000 --> 00:15:50,880 additional storage. We do that by making them a little bit deeper. Retailers like 200 00:15:47,519 --> 00:15:57,360 um furniture stores, appliance stores, flooring companies, Marble and Tile, 201 00:15:54,480 --> 00:16:00,240 Sherwin Williams, Leslie's Pool. Those are the kind of people that you would 202 00:15:58,399 --> 00:16:04,160 find in those buildings. So, we want to kind of give you a feeling for the 203 00:16:01,360 --> 00:16:09,040 tenants that would be there. Um, 204 00:16:06,399 --> 00:16:12,959 I don't know really I don't want to these are three different styles of 205 00:16:10,240 --> 00:16:16,320 architecture. Um, you know, you can y'all are very familiar with the Target 206 00:16:14,399 --> 00:16:21,920 and Lowe's and familiar with the Tom Thumb. So, you can at least see um the 207 00:16:19,440 --> 00:16:25,920 care we put in those back in the day. Um, I don't know that any architecture, 208 00:16:24,320 --> 00:16:30,720 unless you looked at it, said we really like that or a group said they really 209 00:16:27,519 --> 00:16:34,720 like that. Um, that's 20 years old. So, um, we felt like we developed it to kind 210 00:16:33,120 --> 00:16:38,720 of be timeless, but certainly there'd be some updates to it. And as we get 211 00:16:36,720 --> 00:16:43,519 further into it, if we get further into it, um, you know, we're happy to share 212 00:16:41,040 --> 00:16:50,160 what those ideas are. Um, something to share is we're we're 213 00:16:47,120 --> 00:16:53,279 not going to get in a fight. Um, so if a if the majority of people don't want to 214 00:16:51,680 --> 00:16:57,199 do it, then we're not going to do it. I'm old enough to where I don't need to 215 00:16:54,639 --> 00:17:02,079 build another shopping center. Um, if it's something the community wants and 216 00:16:59,600 --> 00:17:06,319 um and we can work together and, you know, develop it the way you want it, 217 00:17:04,640 --> 00:17:09,600 um, I can I can assure you that we have the aptitude to do what we say we're 218 00:17:07,919 --> 00:17:13,360 going to do. And I'd like to think that the amount of development we've had in 219 00:17:10,959 --> 00:17:16,880 the area confirms that. But if y'all don't want it, the town doesn't want it, 220 00:17:15,360 --> 00:17:22,000 we're gone. You won't hear from us again. We just simply thought that 221 00:17:19,360 --> 00:17:25,039 because we had two quality food stores interested at the intersection and 222 00:17:23,679 --> 00:17:28,400 knowing the quality of those food stores, we're going to be able to 223 00:17:26,240 --> 00:17:33,440 attract tenants like the tenants at Brattlewood out in front of Brattlewood 224 00:17:30,559 --> 00:17:36,400 at Brute Nor in 1171. We thought most communities, not necessarily this 225 00:17:34,880 --> 00:17:40,559 community, but most communities like that. It's class A grocery anchor 226 00:17:38,559 --> 00:17:44,080 development that's going to attract quality neighborhood service tenants and 227 00:17:42,320 --> 00:17:51,039 likely quality banks and restaurants on the pads. Um, and so you you there's not 228 00:17:49,039 --> 00:17:55,679 going to be any hostility from us or anger or anything like that. So just um 229 00:17:54,080 --> 00:17:59,280 if y'all want to have a discussion and ask any questions about it, we're pretty 230 00:17:57,280 --> 00:18:02,720 much an open book. Only thing I'd tell you is it's frustrating because there's 231 00:18:00,880 --> 00:18:06,799 questions about traffic we've had before and there's some questions about 232 00:18:04,320 --> 00:18:11,039 lighting and those studies have not yet been done yet, but they'll need to get 233 00:18:08,720 --> 00:18:15,520 done um prior to any kind of public hearing. So, um I'm not trying to dodge 234 00:18:14,160 --> 00:18:20,240 traffic questions. There's obviously going to be additional traffic that um 235 00:18:17,520 --> 00:18:22,960 goes through the intersection. Um and I can kind of if when it comes to 236 00:18:21,679 --> 00:18:26,640 lighting, you've had questions about lighting, I would just encourage you to 237 00:18:24,960 --> 00:18:29,919 drive to the Tom Thump Center and see what that lighting looks like at night. 238 00:18:28,400 --> 00:18:32,640 Most developers want to put up really tall poles with really bright lights on 239 00:18:31,440 --> 00:18:35,919 them because that's the cheapest way to do it. That's not what we're proposing 240 00:18:34,480 --> 00:18:39,360 here. And I think if you drive that Tom Thump Center, you'll see what we're 241 00:18:37,120 --> 00:18:44,799 talking about at night. So 242 00:18:40,960 --> 00:18:47,280 without any other comments, um let's if anybody has any questions, happy to 243 00:18:46,240 --> 00:18:54,080 address them. >> Could Could you um Chris show where the 244 00:18:51,440 --> 00:18:57,600 entrance is into the shopping center off of Simmons? 245 00:18:55,440 --> 00:19:03,360 » Yeah. So [clears throat] um this is Simmons Road 407. This is 246 00:19:01,120 --> 00:19:08,080 that lighted intersection. Um there's obviously a dedicated left-hand turn 247 00:19:04,960 --> 00:19:11,039 lane um into Simmons. are the main entrance that runs across the front of 248 00:19:09,600 --> 00:19:15,600 where that grocery store will be or the food store is right up here. This, if 249 00:19:13,679 --> 00:19:20,640 you're you're probably mostly familiar, that's where that water tower is. And so 250 00:19:18,160 --> 00:19:24,320 the um nearest residential lot is actually kind of south of where that 251 00:19:22,160 --> 00:19:26,960 main entrance is to the front of the grocery store. [clears throat] So that 252 00:19:25,679 --> 00:19:31,120 would be that kind of main entrance drive that runs east west across the 253 00:19:29,600 --> 00:19:35,520 front of the grocery store. you know, probably is the most um that along with 254 00:19:33,200 --> 00:19:39,919 the entrance off 407 is the most kind of we would assume, you know, pending a 255 00:19:37,520 --> 00:19:44,240 traffic impact study, the most kind of traffic area to go and access that 256 00:19:41,440 --> 00:19:46,960 grocery store. And the second one, which you [clears throat] may not be familiar 257 00:19:45,039 --> 00:19:52,000 with cuz there's no reason to take a left turn there now, uh but is the 258 00:19:49,120 --> 00:19:56,720 entrance off 407, and that's a left in. So, there's a dedicated left-hand turn 259 00:19:53,679 --> 00:20:01,280 lane here. It's a ride out, a ride in heading eastbound off of 407 and then a 260 00:19:59,840 --> 00:20:04,880 ride out. So, it's a full service intersection with the dedicated left 261 00:20:02,799 --> 00:20:08,400 currently. >> Can go a little bit further about the 262 00:20:06,799 --> 00:20:11,200 Simmons. So, is there actually going to be an entrance way off of Simmons 263 00:20:10,240 --> 00:20:14,480 itself? >> Yes. Yes. And that's the one I'm sorry, 264 00:20:12,720 --> 00:20:19,280 you may not be able to see it here, but the the main entrance to or one of the 265 00:20:17,120 --> 00:20:23,919 main entrances to the grocery store is off of Simmons. So, does that mean that 266 00:20:21,760 --> 00:20:27,840 food trucks, supply trucks, distribution trucks are going to be using Simmons? 267 00:20:26,000 --> 00:20:33,039 » I'm sorry, >> she asked if she asked if food if uh 268 00:20:31,120 --> 00:20:37,760 like 18 wheelers and large delivery trucks might be using Simmons. And I 269 00:20:35,360 --> 00:20:43,039 think the answer would would be yes from 407 to the entrance of the shopping 270 00:20:40,240 --> 00:20:46,159 center. Um I think we can legislate and I don't think a trucker would want to do 271 00:20:44,640 --> 00:20:54,640 it anyway, is going to turn south on Simmons. So yes, from 407 to the rear of 272 00:20:51,840 --> 00:20:58,080 the grocery store, there'll be some big truck traffic. 273 00:20:56,000 --> 00:21:04,919 » So then can we assume also that they'll try to go around that intersection and 274 00:21:00,000 --> 00:21:04,919 use Kings Road to come up the other way? 275 00:21:05,120 --> 00:21:09,760 » I I I wouldn't I wouldn't assume that. Yeah, 276 00:21:08,000 --> 00:21:13,840 » one one could, but I wouldn't assume that they're going to take the they're 277 00:21:11,600 --> 00:21:18,080 going to take the path that that that the store dictates in the path that's 278 00:21:15,919 --> 00:21:22,240 most convenient. And by far, that's the most convenient path. 279 00:21:20,960 --> 00:21:24,960 » Yes, sir. >> I can't [clears throat] read the fourth, 280 00:21:23,440 --> 00:21:30,000 but what size grocery store? >> 58,000 ft. It won't be any bigger than 281 00:21:27,520 --> 00:21:36,320 58,000 ft. And put that comparison. That's the Kroger's double that size. 282 00:21:33,440 --> 00:21:41,520 And the the the little top thumb over on Brute Noran 1171. That's that's that's 283 00:21:38,880 --> 00:21:45,520 right at 58,000 ft. >> Can you check me that size with the the 284 00:21:44,080 --> 00:21:47,520 Whole Foods market? >> I'm sorry. 285 00:21:46,320 --> 00:21:49,600 » You know the Whole Foods? >> Yes, sir. I do. 286 00:21:48,559 --> 00:21:54,559 » How big is that? >> Pretty close. I think that Whole Foods 287 00:21:51,280 --> 00:21:58,480 about 48. I can confirm that. That's 58. >> So that's about that size. 288 00:21:55,919 --> 00:22:03,200 » Yes, sir. So, who's which which grocery store do we need or over here? 289 00:22:01,760 --> 00:22:05,760 » I can tell you they're in, you know, they're in the business to make money 290 00:22:04,640 --> 00:22:09,039 and there's two of them that are interested in which which 291 00:22:07,760 --> 00:22:13,440 » I can't tell you. >> I can't tell you right now. 292 00:22:11,919 --> 00:22:16,799 » I'm very familiar with all the grocery stores. I'm just saying that there's two 293 00:22:14,960 --> 00:22:20,159 of them that are interested in this location. I I cut you off. So, I'm going 294 00:22:18,960 --> 00:22:24,720 to go back to you for a followup. >> Yeah. Um, it's too early to determine 295 00:22:22,559 --> 00:22:27,600 whether or not you'll apply for a beer and wine license. 296 00:22:26,159 --> 00:22:32,320 » We're going to need to apply for a beer and wine license 297 00:22:29,679 --> 00:22:37,440 » in order to get a food store. >> Yes, ma'am. 298 00:22:33,919 --> 00:22:42,080 » As I mentioned at an earlier meeting, that's going to be a backup of cars 299 00:22:39,679 --> 00:22:48,880 getting in and out of the grocery store, which is right across from our house. Um 300 00:22:45,679 --> 00:22:55,600 and then thinking of a semi also moving in turning and backing up to 407. I see 301 00:22:53,550 --> 00:23:02,360 [clears throat] that to be problematic >> and noisy. 302 00:22:57,600 --> 00:23:02,360 » Yeah. So that that's a good question. 303 00:23:02,880 --> 00:23:08,159 » Can't hear. >> The question was how are we going to 304 00:23:06,240 --> 00:23:14,559 handle traffic basically on Simmons Road? Um is the traffic going to back up 305 00:23:11,120 --> 00:23:18,240 into 407? I'm I'm putting more words in your mouth than the question was, does 306 00:23:15,840 --> 00:23:24,320 it need a del lane? Does it need its own its own del lane to go into um the 307 00:23:21,600 --> 00:23:27,600 entrance off Simmons? Same thing on 407. If you're if you're eastbound on 407, 308 00:23:26,080 --> 00:23:33,280 are we going to need a del lane to get in so it doesn't back traffic up on 407? 309 00:23:30,400 --> 00:23:38,000 So, part of what we do if we decide to continue is to do a traffic study. And 310 00:23:35,600 --> 00:23:42,080 it's somebody the city will approve. Uh, it's a consultant that comes in. Y'all 311 00:23:40,000 --> 00:23:47,120 seen them. They put the wires down and based on where the uses are and what the 312 00:23:44,640 --> 00:23:51,200 uses are proposed to be. These guys are really, really good at telling you how 313 00:23:49,200 --> 00:23:55,600 many how many trip starts will be generated by the development and how the 314 00:23:53,440 --> 00:23:59,039 cars will most likely come in. So, at each opening, we can tell you how many 315 00:23:57,120 --> 00:24:04,480 new starts they're they're planned to be per day. I know that's hard to believe, 316 00:24:01,280 --> 00:24:08,480 but they can do it. They they do it. >> It's it's it's pretty amazing. 317 00:24:06,159 --> 00:24:14,000 » Yes, sir. Are you contemplating a sea store or G store in one of those pads? 318 00:24:11,440 --> 00:24:18,320 » No [clears throat] sir. Um it depends on which ger goes. Both grocerers want gas. 319 00:24:17,440 --> 00:24:23,440 Okay. >> And that's that small facility right 320 00:24:20,080 --> 00:24:29,039 there. Um they have requested, you know, a larger gas pad with convenience on it. 321 00:24:26,480 --> 00:24:33,440 And um I'm I'm being as transparent as I can with you. We're trying to not do 322 00:24:31,360 --> 00:24:37,440 that. And I think ultimately we'll have the leverage because there's interest 323 00:24:35,120 --> 00:24:41,760 from two to say look we're going to go with the one that doesn't want the big 324 00:24:38,799 --> 00:24:47,279 convenience store on the on the endcap thumb at Bridalwood 325 00:24:43,679 --> 00:24:50,640 um or bruton 1171 has a gas station there if you go look at it that's 326 00:24:49,200 --> 00:24:56,000 similar to what we're pushing to have for here so it would be um six multiply 327 00:24:53,360 --> 00:25:00,240 pump dispensers and then a small service hut is what I typically call it 328 00:24:57,919 --> 00:25:02,960 » but necessarily on the corner or in the middle 329 00:25:00,559 --> 00:25:05,600 » point uh here. >> Yeah. That 330 00:25:04,159 --> 00:25:09,200 » and you can orient that in different ways obviously. So we're working with 331 00:25:07,200 --> 00:25:12,880 those grocerers right now to work on >> thumb kind of has it in the middle. 332 00:25:10,880 --> 00:25:16,960 » It does. Yeah. Yeah. And so what we're we're trying to take what we're trying 333 00:25:15,360 --> 00:25:20,640 to utilize right now with the grocery stores is put it in [snorts] a obviously 334 00:25:19,039 --> 00:25:24,320 convenient location for their customers but not something that takes away from 335 00:25:22,640 --> 00:25:29,520 good opportunities for us and the community from a restaurant, a bank, a 336 00:25:27,360 --> 00:25:33,760 retail standpoint. So, we're trying to retain the best location for everybody. 337 00:25:31,520 --> 00:25:35,360 » It seems like more backup of traffic that kind of corner. 338 00:25:34,720 --> 00:25:39,760 » Yes. >> It's it's just if you drive I mean, I'm 339 00:25:37,679 --> 00:25:44,240 not saying it's right, but if you drive 90% of the shopping centers that that 340 00:25:42,320 --> 00:25:47,600 little we're just trying to minimize it, you know, it it ends up sitting on the 341 00:25:46,080 --> 00:25:50,240 hard corner. >> Yes, sir. 342 00:25:48,400 --> 00:25:53,360 » Could you talk a little bit about timing and what your forecast for that would 343 00:25:52,960 --> 00:25:58,080 be? >> Sure. 344 00:25:54,960 --> 00:26:02,559 Um it's been pretty slow to date because we've had to um come up with the grading 345 00:26:00,880 --> 00:26:07,840 plan that we talked about and make sure that the that those um the utilities 346 00:26:05,440 --> 00:26:13,120 were available. But if we were to go forward um it wouldn't be a rush, 347 00:26:11,039 --> 00:26:21,200 » but we need to be efficient about going forward. Um, so timing, um, we'd 348 00:26:17,520 --> 00:26:27,919 probably want to be closed late spring, um, and underway probably 349 00:26:25,120 --> 00:26:33,120 July. I'm a little bit guessing, but that's that's the normal time frame. Um, 350 00:26:30,880 --> 00:26:36,799 the reason that there's pace about it is these food stores are really really 351 00:26:34,720 --> 00:26:40,559 active currently. They haven't been active for a long time, but they're 352 00:26:38,240 --> 00:26:44,320 really active now because of the growth. And so they have so many opportunities 353 00:26:42,240 --> 00:26:48,880 that they're evaluating currently that they can kind of tell, you know, whether 354 00:26:47,200 --> 00:26:52,480 by the pace as to whether this is going to happen or not. And so we just know 355 00:26:50,880 --> 00:26:56,880 that you've got to you got to stay up with their pace. And so they'll expect, 356 00:26:54,880 --> 00:26:59,600 you know, a closing and a commencement kind of like we talked about. 357 00:26:58,080 --> 00:27:04,559 » So if you start next summer, how long is the construction process? 358 00:27:01,039 --> 00:27:08,799 » Uh 10 to 12 months. [snorts] >> How long have you worked on it before 359 00:27:06,080 --> 00:27:15,039 the You said it's been slow. Uh we've been under contract, Chris, you know, 360 00:27:11,760 --> 00:27:19,200 July, been under contract since July. And so Lantana was like, "We we think 361 00:27:17,520 --> 00:27:22,000 there's capacity in the line, but we're not going to go. We're not going to pay 362 00:27:20,480 --> 00:27:24,880 to go do it. If y'all want to pay to go do it." So then we had to find, you 363 00:27:23,360 --> 00:27:28,480 know, find somebody that was acceptable to them and acceptable to us, that was 364 00:27:26,559 --> 00:27:33,520 competent to go do all that. So that took most of the time. And then to grade 365 00:27:30,240 --> 00:27:35,919 it, the sanitary sewer and the grade, you have to they they complement each 366 00:27:34,960 --> 00:27:39,600 other. You have to kind of make sure they work together. So it was it's 367 00:27:37,919 --> 00:27:43,679 complicated it it it a lot of a lot what has to do 368 00:27:42,159 --> 00:27:48,000 with those those where those buildings are located and how they're located is 369 00:27:46,080 --> 00:27:51,679 one their marketability and then two how the how the grading works. Yes sir. 370 00:27:50,240 --> 00:27:56,240 » I know you haven't done any traffic studies but can you give us idea what 371 00:27:53,279 --> 00:28:00,720 kind of volume of cars uh is going into the Tom Thumb Shopping Center? 372 00:27:58,480 --> 00:28:03,520 » I don't I I just don't know. I don't follow it that way. I follow 373 00:28:02,240 --> 00:28:08,159 » you built it. But you don't have an idea of the volume that's going in. I don't I 374 00:28:05,919 --> 00:28:12,480 built it. I'm sorry you're disappointed. I built it 12 years ago, 375 00:28:11,120 --> 00:28:15,120 15 years ago. >> So, I mean, I don't I have no idea. I 376 00:28:14,080 --> 00:28:18,240 can find out. >> I could be a good idea. 377 00:28:16,320 --> 00:28:23,760 » Okay. >> Yeah. Yes, sir. Yes, sir. 378 00:28:21,279 --> 00:28:31,440 » At an earlier meeting, uh part of the discussion that came up was uh the wall 379 00:28:27,440 --> 00:28:35,279 between 407 and Simmons, running down Simmons. How far would that go? You 380 00:28:34,000 --> 00:28:38,320 know, that's one of the fun things we can work on, especially if that's 381 00:28:36,880 --> 00:28:40,559 » We're real concerned because that's our property. 382 00:28:39,200 --> 00:28:42,960 » Yeah. >> People walking and you said there's 383 00:28:41,760 --> 00:28:45,840 going to be a sidewalk, too. >> Sidewalks. 384 00:28:45,039 --> 00:28:49,220 » Yeah. >> We all get to be on both sides of 385 00:28:47,760 --> 00:28:52,000 » Yeah. We can we can do it any [clears throat] way you want. So, that's 386 00:28:50,559 --> 00:28:58,960 that's what's fun about these meetings. I mean, I I encourage you to drive Rippy 387 00:28:54,080 --> 00:29:03,520 Road um and see and see um see that wall in the landscaping and the meandering 388 00:29:00,799 --> 00:29:08,320 path that So, we we can do it that way where you don't see anything or we can 389 00:29:05,440 --> 00:29:11,360 do it lower. It's it's just interaction what you want to look at. And 390 00:29:09,760 --> 00:29:16,320 » see, we don't want to see anything putting a 7 foot wall on one side of 391 00:29:13,600 --> 00:29:20,320 Simmons. We'd like a 7 foot wall on our side. So 392 00:29:18,159 --> 00:29:23,440 » we're not getting all the noise bouncing off that large wall back into our our 393 00:29:22,640 --> 00:29:25,039 property. >> Okay. 394 00:29:23,919 --> 00:29:28,799 » And pedestrians. >> That's not prohibitive. I don't think 395 00:29:27,039 --> 00:29:31,760 we'd have to get into the design of it a little bit. 396 00:29:30,880 --> 00:29:36,159 » Yes, sir. >> Couple more questions [clears throat] on 397 00:29:33,679 --> 00:29:40,960 your perspective tenant here. >> Is this site in competition with other 398 00:29:37,919 --> 00:29:42,880 sites they're looking at in 407 area? >> Sure. 399 00:29:42,559 --> 00:29:46,159 » Sure. >> So time is nearly over. Yes, I think is 400 00:29:45,279 --> 00:29:50,559 where we go here. >> Time time is of the essence, no doubt. 401 00:29:48,159 --> 00:29:54,000 » And what is your game plan longer term? Do you're obviously a developer and get 402 00:29:52,320 --> 00:29:56,159 it up on lease, but do you sell the property? Are you are you guys long-term 403 00:29:55,600 --> 00:30:00,159 owners? >> Sometimes we have a portfolio of a 404 00:29:58,159 --> 00:30:05,840 couple of million feet of retail that we own. Um we don't have to own it forever. 405 00:30:03,679 --> 00:30:10,399 Um the market goes up and down, prices go up and down, rent goes up and down. 406 00:30:07,919 --> 00:30:14,399 We kind of let the market or the retail space speak for itself as to when might 407 00:30:12,240 --> 00:30:19,279 be a good time to sell it or when not. >> I guess the grocery store tenants going 408 00:30:16,159 --> 00:30:22,240 to want 24/7 hours, aren't they? >> I I think so. 409 00:30:20,640 --> 00:30:25,520 » Well, there's a chance maybe not. >> Yeah, I think so, though. I would I 410 00:30:24,480 --> 00:30:30,640 would I would agree with you. >> How about the the other pads? But most 411 00:30:27,520 --> 00:30:34,799 of those will be closed by 9:00, 10:00. >> There's not going to be any 247 pads. 412 00:30:33,039 --> 00:30:40,000 » Okay. >> Somebody I got in the background. Yes, 413 00:30:36,480 --> 00:30:43,039 ma'am. Uh all the way I'm sorry. Okay. Go ahead, sir. 414 00:30:40,720 --> 00:30:44,880 » How will this affect if at all? 415 00:30:44,240 --> 00:30:46,960 » Living >> living. Excuse me. 416 00:30:46,240 --> 00:30:48,880 » It's gone. >> What was the question? 417 00:30:47,600 --> 00:30:52,480 » Are they gone? >> Yes. Okay. 418 00:30:51,440 --> 00:30:58,911 » Yes. >> In your development at this site, is 419 00:30:55,440 --> 00:31:04,159 there any retail for those sites [clears throat] 420 00:31:00,000 --> 00:31:09,039 uh that would not be that y'all do not consider? 421 00:31:06,399 --> 00:31:14,320 Do you have any exclusions as to what would definitely not be considered? 422 00:31:12,320 --> 00:31:17,600 » Do you have anything that that you would suggest that you because that may be an 423 00:31:16,240 --> 00:31:21,600 easier way to go about it. >> Well, you know, typically you would talk 424 00:31:19,760 --> 00:31:24,559 about liquor stores. >> Yeah, 425 00:31:22,080 --> 00:31:27,360 » we talk about um >> there won't be a liquor store there. 426 00:31:25,840 --> 00:31:28,799 » Adult orientated. >> What? 427 00:31:27,919 --> 00:31:31,440 » Adultoriented. >> Not going to be [clears throat] any 428 00:31:29,279 --> 00:31:34,240 adult oriented prohibited. >> No massage parlor, 429 00:31:33,039 --> 00:31:39,679 » no vape shops. >> Yeah. So the the grocery cares about 430 00:31:37,200 --> 00:31:43,679 that just as much as we do. [laughter] The grocery cares about that just as 431 00:31:41,200 --> 00:31:49,279 much as we do. And so when we enter into the agreement with the grocery store, we 432 00:31:46,320 --> 00:31:52,559 execute and record against the property a noxious use, prohibited use list, 433 00:31:51,279 --> 00:31:56,159 which is everything that we don't want to see at the property. And so we 434 00:31:53,760 --> 00:32:00,080 mutually agree on massage parlor, you know, liquor stores, sexually oriented 435 00:31:57,840 --> 00:32:03,120 business, vape shops. So we agree on that and we actually record it against 436 00:32:01,519 --> 00:32:05,840 the property. So, it's not just you can't lease this. It's actually 437 00:32:04,240 --> 00:32:09,919 recorded. So, it runs with the land. >> So, it'll be a public record. So, you 438 00:32:07,840 --> 00:32:11,760 could we'll give you a copy of what what it says. 439 00:32:10,559 --> 00:32:16,480 » Deed restriction. >> Oh, absolutely. It runs with the land 440 00:32:13,679 --> 00:32:20,080 with the deed. >> Uh yes, ma'am. All the way in the back. 441 00:32:18,080 --> 00:32:23,120 » So, have y'all close on this yet or is this still contingent? 442 00:32:21,279 --> 00:32:24,640 » No. No, we've not closed. >> Okay. 443 00:32:23,600 --> 00:32:26,960 » We're just under contract. >> So, you will then purchase it and then 444 00:32:26,159 --> 00:32:28,000 start developing it. >> That's correct. 445 00:32:27,360 --> 00:32:33,039 » Yes, ma'am. >> Okay. So, we do all the uh traffic 446 00:32:31,279 --> 00:32:34,480 studies and things before you close on the property. 447 00:32:33,679 --> 00:32:38,799 » Oh, yes, ma'am. >> Yes. 448 00:32:34,880 --> 00:32:44,559 » Okay. And before the public meeting? >> Uh, yes. If it's if it's We're not going 449 00:32:41,679 --> 00:32:49,519 to like try to put the traffic by you. We're going to all know what the traffic 450 00:32:45,919 --> 00:32:52,559 is before um we agree or disagree. >> I have some friends that literally live 451 00:32:51,039 --> 00:32:57,279 right there on the corner, right there by that Wonder Tower. And I mean, this 452 00:32:54,880 --> 00:33:00,720 is going to change their entire life. >> Yeah. I understand 453 00:32:58,480 --> 00:33:04,480 » and I feel for those people >> are your children. 454 00:33:02,240 --> 00:33:08,480 » We do too. >> Yes, ma'am. 455 00:33:06,240 --> 00:33:14,640 » Okay. Would you clarify on that map because I'm very confused. First of all, 456 00:33:11,120 --> 00:33:18,559 can you with your finger go around all the property that you would be buying or 457 00:33:17,679 --> 00:33:22,399 whatever? >> Yeah. Yeah. So, if the green's kind of a 458 00:33:21,039 --> 00:33:27,600 good area because that's our landscaping and our buffer zone. So, if I take it 459 00:33:24,640 --> 00:33:31,600 here and I'll run across 407 all the way to Simmons. We do not own 460 00:33:29,600 --> 00:33:37,279 that little corner, which is low currently. Um, down south on Simmons, 461 00:33:35,200 --> 00:33:41,519 west across the Broly property, north across the Broly property, 462 00:33:39,600 --> 00:33:45,120 west, and then north again. So, that's entirety of the track. That's the full 463 00:33:43,679 --> 00:33:51,039 » 23 acres. >> And then those, it's hard for me to see 464 00:33:47,760 --> 00:33:54,080 from here to the upper part of the grocery store. Is that parking 465 00:33:53,519 --> 00:33:55,679 » here? >> Yes. 466 00:33:54,399 --> 00:33:59,600 » Yes, ma'am. That's parking. >> Okay. And then what about to the left of 467 00:33:57,679 --> 00:34:05,519 that? What would all that be? >> Um, this is this would be parking here, 468 00:34:02,720 --> 00:34:09,280 service area here, um, green space with detention, 469 00:34:07,120 --> 00:34:13,520 uh, truck service area here, and then parking here. 470 00:34:11,359 --> 00:34:19,119 » The buildings are outlined in color. Most everything else is parking 471 00:34:16,320 --> 00:34:22,159 » except except the things that are blue and those were are the storm water 472 00:34:20,800 --> 00:34:25,679 detention ponds. >> Right. So underneath the two yellow at 473 00:34:24,639 --> 00:34:28,560 the top >> are those buildings there. Yes. Right 474 00:34:27,919 --> 00:34:32,079 there. >> That's just it's just parking. 475 00:34:30,240 --> 00:34:34,480 » Okay. Now all that even with the black line there is all parking. 476 00:34:33,520 --> 00:34:38,240 » Yes, ma'am. >> Okay. Thank you. 477 00:34:35,760 --> 00:34:46,399 » Sure. Thank you. Yes, sir. Oh, I have a question about the um the two properties 478 00:34:42,240 --> 00:34:51,679 that you described as large retail um like furniture stores, things like 479 00:34:49,200 --> 00:34:52,960 that. So, there's two of those I believe that are outlined. 480 00:34:52,480 --> 00:34:57,200 » Correct. >> Okay. And one closest to the left. 481 00:34:55,440 --> 00:35:02,800 » Um yes, that one. >> Our property abuts that property there. 482 00:35:00,000 --> 00:35:08,160 Correct. Actually, right on 407. We have a There you go. And so, uh, we're kind 483 00:35:06,560 --> 00:35:12,640 of curious. I mean, we've got specific issues. I might bring them up, but, uh, 484 00:35:10,640 --> 00:35:16,480 we'd be concerned what about probably the height of the buildings. So, earlier 485 00:35:14,480 --> 00:35:22,000 the conversation was mentioned about, uh, when the mayor was speaking that it 486 00:35:18,640 --> 00:35:25,280 was, uh, cap their two uh, twotory building. 487 00:35:22,560 --> 00:35:32,880 » Correct. is do you see in any of these uh potential uh 488 00:35:28,960 --> 00:35:36,240 sites or or uh retail outlets that would want uh what's the approximate height of 489 00:35:35,280 --> 00:35:42,480 those buildings? >> The approximate height of a of a grocery 490 00:35:39,520 --> 00:35:47,680 store is about 29 ft. >> So, um those those buildings will be 491 00:35:45,200 --> 00:35:51,119 about that size, no higher than that. And if I if you're worried about seeing 492 00:35:49,280 --> 00:35:56,079 them, I think, and worried about hearing from them, um there's a drawing that we 493 00:35:53,920 --> 00:36:01,119 can do. We're just not there yet, where we can put someone standing in whatever 494 00:35:58,960 --> 00:36:05,760 position in your yard that you're worried about and then we can put the 495 00:36:03,359 --> 00:36:08,720 finished grade and then put the building up and you can see what you'd be able to 496 00:36:07,599 --> 00:36:12,240 see of the building. >> Okay. 497 00:36:09,040 --> 00:36:15,359 » It'll be very accurate. >> Question. 498 00:36:12,880 --> 00:36:19,680 » Yes, sir. You guys have the experience with all that pavement as opposed to 499 00:36:17,680 --> 00:36:23,680 open field. Now, of course, if we have an inch of 500 00:36:21,520 --> 00:36:30,640 rain, it's going to be an inch of rain, whether it's open soil or park pavement. 501 00:36:28,640 --> 00:36:36,240 What is the what's your feeling for the in the 502 00:36:33,280 --> 00:36:39,839 increase in runoff on pavement versus [clears throat] what is there now? 503 00:36:37,440 --> 00:36:43,200 Because that water is all going to flow south. 504 00:36:40,640 --> 00:36:47,520 » We're very very aware of that. Okay. >> So, how Chris, how big are those two 505 00:36:44,800 --> 00:36:52,320 storm water pumps? [clears throat] >> This is probably an acre and a half and 506 00:36:49,680 --> 00:36:56,160 that's probably close to two acres. >> So, it's 3 and 1/2 acres that we're 507 00:36:54,160 --> 00:36:59,440 buying that we're putting in detention. Um, so that's a pretty serious 508 00:36:57,760 --> 00:37:04,000 commitment. Um, not to mention the cost of the detention. It's it's not easy. 509 00:37:02,160 --> 00:37:09,520 It's not hard to find, you know, what the rules are. Um, the mayor mentioned 510 00:37:06,480 --> 00:37:12,720 them earlier. So that whole design, the whole gra grading design and the whole 511 00:37:11,280 --> 00:37:18,160 size of those ponds, I just don't come up with that. A civil civil engineer 512 00:37:15,359 --> 00:37:22,720 does that. And the whole um plan is based on a 100redyear flood. And that's 513 00:37:20,560 --> 00:37:29,839 a pretty standard uh it's a very standard um criteria that you solve to. 514 00:37:26,320 --> 00:37:34,560 So in in unless there's a 100redyear flood, [clears throat] 515 00:37:32,400 --> 00:37:39,599 whatever however it rains, however fast the water runs off the concrete, the job 516 00:37:37,040 --> 00:37:45,119 of those um 3 and 12 acres of storm ponds is to hold that water and release 517 00:37:42,320 --> 00:37:49,119 it at the same pace as if the property wasn't developed. 518 00:37:48,291 --> 00:37:53,359 [clears throat] >> As if it's as as if the property is like 519 00:37:52,000 --> 00:37:59,440 it is now. Correct. >> Feel correct. That's the requirement. 520 00:37:57,200 --> 00:38:02,000 Okay, I have to think about that. >> Yes, sir. 521 00:38:00,320 --> 00:38:06,160 » Um, you may have answered this. I'm not hearing that well, but how many parking 522 00:38:03,920 --> 00:38:11,040 spaces on this is this? >> Um, it's a good question. Um, because 523 00:38:08,880 --> 00:38:13,520 it's different uses require different spaces 524 00:38:11,839 --> 00:38:17,680 » based on this design. How many parking spaces? 525 00:38:14,880 --> 00:38:23,200 » It that different uses require different designs. So if it's a if it's a 526 00:38:20,240 --> 00:38:26,960 furniture store, you know, it it requires a lot less parking than maybe 527 00:38:24,800 --> 00:38:31,440 another type store. So it's hard to be exact, but I can give you a relative 528 00:38:28,800 --> 00:38:36,880 ratio. So for the retail on the east side, it's about four per thousand. Four 529 00:38:34,480 --> 00:38:41,839 parking spaces for every thousand square ft. On the western side, because those 530 00:38:40,320 --> 00:38:47,200 users usually aren't as parking intensive, it's about two per thousand. 531 00:38:46,000 --> 00:38:52,720 » Okay. Okay. And I have another couple other quick questions. Um, have you done 532 00:38:49,680 --> 00:38:56,000 an independent appraisal on the impact to market values of the homeowners 533 00:38:55,040 --> 00:38:59,680 around this? >> No, sir. 534 00:38:56,640 --> 00:39:02,800 » And are you going to do that? >> I hadn't planned on it, but if that's 535 00:39:01,680 --> 00:39:05,920 something y'all want to see >> going to sign significantly impact the 536 00:39:04,800 --> 00:39:09,839 people that live >> up and down Simmons. I mean, a lot of 537 00:39:07,599 --> 00:39:14,000 people live in double O far away. Yes. And this may sound like a great idea 538 00:39:12,320 --> 00:39:18,320 because you can get to travel to a grocery store, but the people that are 539 00:39:15,599 --> 00:39:21,119 going to be impacted by the traffic from South Simmons, I don't care what you 540 00:39:19,760 --> 00:39:24,320 say, people are going to come up that way. It's a shortcut. They're already 541 00:39:22,800 --> 00:39:28,800 doing it. >> And if you build this, you they're not 542 00:39:26,800 --> 00:39:30,640 going to drive around. They're coming up Simmons. 543 00:39:29,520 --> 00:39:34,480 » I didn't disagree with that. >> And this is going to negative impact on 544 00:39:32,800 --> 00:39:39,200 all the property values up and down Simmons Road and specifically around 545 00:39:36,800 --> 00:39:43,040 this area. This is a This is not a positive to market value. Nobody I 546 00:39:41,280 --> 00:39:46,320 didn't move into double O >> to live across the street from a giant 547 00:39:44,720 --> 00:39:51,359 grocery store complex. >> I here because I want a quiet community. 548 00:39:49,359 --> 00:39:55,440 » We have to bear that in mind. What about tax benefits? They're vaguely promising. 549 00:39:54,400 --> 00:39:58,320 » Who's who's they >> are not going to offset the loss of 550 00:39:57,040 --> 00:40:02,480 property value? >> Not can I follow up on that? 551 00:40:00,880 --> 00:40:06,320 » There is going to be additional traffic no doubt up and down Simmons and that's 552 00:40:04,320 --> 00:40:10,160 » is a negative impact on property. I guarantee you that. 553 00:40:07,520 --> 00:40:14,240 » Okay. I would disagree with you. Just >> work in real estate and I know people 554 00:40:11,760 --> 00:40:16,640 don't go find me a property directly across the street from 555 00:40:15,280 --> 00:40:18,480 » I don't think either one of us could tell you what's going to impact property 556 00:40:17,920 --> 00:40:21,839 value. >> I just want to follow up on that. I I 557 00:40:19,920 --> 00:40:22,880 actually live right on Simmons right by that. 558 00:40:22,320 --> 00:40:26,640 » Yes, ma'am. >> Um and we already in the mornings have a 559 00:40:24,880 --> 00:40:28,720 problem getting out of our driveway with the traffic amount that's coming in. 560 00:40:28,400 --> 00:40:33,280 » Sure. >> I can't imagine having all that retail 561 00:40:31,040 --> 00:40:36,079 and the traffic is going to cause. >> Is there talks of possibly widening? 562 00:40:35,680 --> 00:40:37,839 Yes. >> Oh, see that'd be horrible, too. 563 00:40:37,440 --> 00:40:42,720 » Yeah, >> that that's our yard. That's literally 564 00:40:39,920 --> 00:40:46,880 we own up to the to that street. >> So, that would affect my my house, my 565 00:40:45,760 --> 00:40:49,280 yard, my everything. >> No, it wouldn't be on your 566 00:40:48,160 --> 00:40:52,640 » trucks delivering goods. >> It would. [clears throat] 567 00:40:50,480 --> 00:40:57,040 » So, the cemetery that has talked about or would have based on the traffic 568 00:40:54,640 --> 00:41:00,760 impact analysis would really be along our frontage here. 569 00:41:03,839 --> 00:41:10,720 » Just just to be clear, it wouldn't affect your properties as as the size of 570 00:41:08,560 --> 00:41:15,599 your property if there were improvements made and that's when I said are you 571 00:41:12,480 --> 00:41:18,000 considering widening the road in if the traffic study comes back like we think 572 00:41:17,040 --> 00:41:22,560 it does and there's going to be additional traffic on Simmons then one 573 00:41:20,640 --> 00:41:27,119 of the ways that you defer that traffic is with that dedicated right-hand turn 574 00:41:24,880 --> 00:41:30,079 so they would add a lane in to the grocery store so whether you agree with 575 00:41:28,800 --> 00:41:33,760 that don't like it or whatever I just wanted to be clear they're not going to 576 00:41:31,520 --> 00:41:37,520 be taking property from you as as the road expandes if If the road expands, 577 00:41:35,680 --> 00:41:41,119 » you're waiting for the mic around. We can't hear you. Put the mic up to your 578 00:41:39,520 --> 00:41:45,079 lips to talk. I can't hear you when you got using it as a pointer. 579 00:41:45,839 --> 00:41:51,760 » Yes, sir. >> Thank you, Mr. Have you done your 580 00:41:49,760 --> 00:41:55,760 geotechnical work on the site? >> I'm sorry. 581 00:41:52,960 --> 00:41:57,520 » Have you done your geotechnical work on the site? 582 00:41:56,480 --> 00:42:01,280 » No, sir. >> Didn't think so. What is the water table 583 00:41:59,920 --> 00:42:05,599 there? Do you have any idea? >> No. No idea. Uh, have you talked to 584 00:42:03,440 --> 00:42:08,800 adjacent land owners about that? >> We've talked to some adjacent land 585 00:42:06,960 --> 00:42:11,599 owners about the water runoff, but we haven't talked about the water table. 586 00:42:10,400 --> 00:42:15,119 » So, you don't know where that is? >> No, sir. 587 00:42:12,480 --> 00:42:19,440 » And the petroleum record uh for that particular 588 00:42:17,040 --> 00:42:23,440 property and adjacent properties? >> Petroleum record in what regard? Is 589 00:42:21,040 --> 00:42:26,079 there a is there a empty well or something like that? 590 00:42:24,000 --> 00:42:27,599 » Has there been any exploration in the site? 591 00:42:26,640 --> 00:42:30,480 » Not to my knowledge. >> Adjacent to the site? 592 00:42:29,119 --> 00:42:33,680 » Not to my knowledge. You haven't done your homework, 593 00:42:31,440 --> 00:42:36,560 » right? We have it. We want to have this meeting first before we do that. 594 00:42:35,200 --> 00:42:40,079 » Drill pad >> that was drilled there about what 15 595 00:42:39,359 --> 00:42:43,200 years ago. >> Yeah. 596 00:42:40,640 --> 00:42:48,000 » It was nonproductive. So, it was abandoned plugged. 597 00:42:45,760 --> 00:42:53,520 » It's on the um it's right off of Simmons. It's going to be on the south 598 00:42:49,599 --> 00:42:58,160 corner of that property. There was a a gas well drilled there 599 00:42:56,160 --> 00:43:02,319 » and it was only on a location for maybe five years before they plugged and it 600 00:43:00,880 --> 00:43:07,280 » Thank you. >> Question on ordinances. It may be 601 00:43:04,400 --> 00:43:12,560 premature. Are there any current double ordinances that you expect that you're 602 00:43:09,280 --> 00:43:16,400 going to have to request a waiver on? >> Kendra, you have any answer to that? I'm 603 00:43:15,119 --> 00:43:19,400 not aware of any. commercial >> use 604 00:43:21,040 --> 00:43:27,119 commercial. >> So the 605 00:43:24,000 --> 00:43:32,000 » Kendra and your consultant would will would work together on behalf of the 606 00:43:29,040 --> 00:43:35,200 city and us to come up with a plan development. So that plan development 607 00:43:33,520 --> 00:43:40,079 would have specific standards in it. So it's not going to be a blanket 608 00:43:36,960 --> 00:43:46,319 commercial zoning. So there would be a negotiation, I guess, if you will, as to 609 00:43:42,480 --> 00:43:49,359 what goes in those standards. Yes, sir. 610 00:43:47,119 --> 00:43:53,119 » I just curious about the development of the property itself. So, when you build 611 00:43:51,760 --> 00:43:57,440 something like this, do you build the grocery store first and build the other 612 00:43:55,040 --> 00:44:01,520 buildings later or is it all done at the same time? What would you what would you 613 00:43:59,760 --> 00:44:07,359 foresee in that? >> Yeah. And so, it's all it's most of it's 614 00:44:04,079 --> 00:44:11,440 market driven. So, when there are users available that are quality users for the 615 00:44:09,280 --> 00:44:14,800 pad sites, then we'll execute and move forward with those. I can't tell you 616 00:44:12,720 --> 00:44:18,720 when those show up. It's usually pretty soon and so it's usually done in conj in 617 00:44:16,960 --> 00:44:21,920 conjunction with the initial construction of the grocery store and 618 00:44:20,240 --> 00:44:26,520 the shopping center. The grocery store and the retail space will go together. 619 00:44:27,839 --> 00:44:33,760 » Yes, sir. >> Um two quick question. Are the utility 620 00:44:32,160 --> 00:44:36,640 companies in tune with what you're trying to do here both serve and the 621 00:44:35,839 --> 00:44:41,520 water company? >> They they they will be. Again, this is 622 00:44:39,200 --> 00:44:45,440 so preliminary. I just we that's the best guess we've got. But all that tech 623 00:44:43,920 --> 00:44:49,040 dot's going to have to look at this. All the utility companies have got to look 624 00:44:46,720 --> 00:44:51,359 at it. So there we just haven't gotten to that point yet. 625 00:44:49,839 --> 00:44:54,720 » Are you all contemplating any other developments up and down 407? It would 626 00:44:53,359 --> 00:44:56,079 have a similar concept to it. >> No sir. 627 00:44:55,119 --> 00:44:58,630 » If this doesn't work out. >> No sir. 628 00:44:56,640 --> 00:45:00,400 » Okay. [clears throat] Yes. 629 00:44:59,200 --> 00:45:05,280 » Would that other entrance that you talked about off of 407? Would that be a 630 00:45:02,720 --> 00:45:07,280 light there or is that unprotected >> here? 631 00:45:05,839 --> 00:45:11,520 » Yeah. >> I I doubt that we're going to get 632 00:45:08,640 --> 00:45:15,599 another light from Texot there. >> Yeah. cuz then that that pushes more 633 00:45:13,680 --> 00:45:18,640 traffic in on Simmons then unless you're coming from the west, you know, but a 634 00:45:17,599 --> 00:45:21,520 lot of people are not going to take an unprotected left turn, 635 00:45:20,640 --> 00:45:26,400 » right? >> So, cuz people come down that road 636 00:45:24,240 --> 00:45:29,839 » 55 miles an hour and there's a hill right there, too. So, it's limited 637 00:45:28,000 --> 00:45:33,680 visibility. If it were me, I would go down Simmons cuz I wouldn't feel safe 638 00:45:31,200 --> 00:45:36,400 taking a left turn there. >> So, 639 00:45:34,000 --> 00:45:39,599 » thank you. I think that's just I think that's where a lot of concerns are going 640 00:45:37,760 --> 00:45:43,839 to be is it feels like most of the traffic is going to be pushed in on 641 00:45:40,960 --> 00:45:48,800 Simmons and for residents that take that on a normal commute or whatever that's 642 00:45:46,560 --> 00:45:53,520 it already backs up at that white. >> So that's that's just the challenge. 643 00:45:51,920 --> 00:45:56,079 » Thank you. How far >> why are we being asked to express our 644 00:45:55,280 --> 00:46:00,319 preference [clears throat] on the architectural design at this point? We 645 00:45:58,880 --> 00:46:04,800 were handed a sticker when we came in there. This is conceptual preliminary. 646 00:46:02,640 --> 00:46:08,160 Why are you asking that of us? Um >> what's the point of that? 647 00:46:05,839 --> 00:46:11,599 » It's usually it's usually a topic of conversation like people will ask some 648 00:46:11,119 --> 00:46:15,280 point >> someone will say what does it look like 649 00:46:14,079 --> 00:46:18,079 it speak >> I'm trying to trying to answer I'm 650 00:46:16,800 --> 00:46:22,640 trying to answer your question. I'm trying to answer your question. 651 00:46:19,920 --> 00:46:26,480 » It speaks to credibility. If I if if if if if 652 00:46:24,480 --> 00:46:29,760 someone was up here and I was in your seat and they were telling me that they 653 00:46:28,480 --> 00:46:32,880 were going to develop a shopping center or suggesting to me that they were going 654 00:46:31,520 --> 00:46:40,400 to develop a shopping center. >> Sure. And if I didn't talk, 655 00:46:36,720 --> 00:46:45,200 » all I all I wanted to do was show you examples of what it might look like. 656 00:46:43,280 --> 00:46:49,040 » It typically it typically comes up >> preference at this stage. Makes no sense 657 00:46:47,680 --> 00:46:52,319 » because we care about it. applied support for a project saying, "Oh, 658 00:46:51,292 --> 00:46:58,640 [clears throat] we vote for this already." And we don't. We haven't. And 659 00:46:55,280 --> 00:47:00,720 I I sense a tone that when I walked in here, it made me 660 00:46:59,440 --> 00:47:02,400 » I'm sorry that >> question. 661 00:47:01,200 --> 00:47:06,000 » If if y'all don't want to do it, we're not going to do it. I'm sorry for the 662 00:47:03,920 --> 00:47:10,240 tone. We're I'm trying to be as open as we can be. And if the if the majority of 663 00:47:08,160 --> 00:47:13,599 people if the majority of people don't want to do it, we're not going to do it. 664 00:47:11,520 --> 00:47:18,720 » Unless you live three blocks away, sure, it's wonderful for you. But anybody on 665 00:47:15,760 --> 00:47:20,319 Simmons Road, the way this is, this is a disaster. 666 00:47:19,920 --> 00:47:23,920 » Yeah. >> This is not our lifestyle. This is not 667 00:47:22,160 --> 00:47:27,920 This impacts the quality of all of our lives. And we do not want this just like 668 00:47:26,079 --> 00:47:30,800 we didn't want the helicopter pass. >> Amen. 669 00:47:29,359 --> 00:47:34,720 » And this is being shoved down our throats again for your benefit and 670 00:47:32,720 --> 00:47:39,520 profit. Great. You're a developer. I I understand you want those things. And 671 00:47:36,480 --> 00:47:42,560 whoever else is benefiting that is not a resident of Double Oak. 672 00:47:41,280 --> 00:47:45,440 » We're not shoving anything down anybody's throat. I opened with if y'all 673 00:47:44,400 --> 00:47:47,200 don't want it. >> No. 674 00:47:46,968 --> 00:47:49,920 [clears throat] >> Any other questions? 675 00:47:49,200 --> 00:47:53,520 » Yes, sir. >> So, something is going to go on this 23 676 00:47:52,400 --> 00:47:59,359 acres >> and this may be the best we get. 677 00:47:56,960 --> 00:48:04,800 » So, that has to be that has to be taken into consideration. So, let's let the 678 00:48:01,520 --> 00:48:07,599 man talk and make his presentations >> and not give him such a negative 679 00:48:06,240 --> 00:48:11,440 reaction to our town. >> I am having a negative reaction. 680 00:48:09,440 --> 00:48:13,440 » You certainly are and we all we have all witnessed. 681 00:48:13,168 --> 00:48:18,880 » [clears throat] >> I like it. Not to avoid this. 682 00:48:16,560 --> 00:48:23,040 » Please, can can we can we keep it at a tone? 683 00:48:21,440 --> 00:48:25,599 » You all sit here and say government never tells you what's going on. 684 00:48:25,040 --> 00:48:29,599 » Well, that's >> they came to the table. We did this 685 00:48:27,920 --> 00:48:34,880 today to allow you to be in the know. You you 686 00:48:32,319 --> 00:48:39,760 heard you heard him say it's under contract. He doesn't sign it. 687 00:48:36,400 --> 00:48:44,240 » Let him talk for a second. >> Speak for everybody. All we're wanting 688 00:48:41,599 --> 00:48:46,160 to do here is to share. So, a sticker on a sheet. 689 00:48:44,720 --> 00:48:50,000 » I live right across the street. >> We just like to have citizen involvement 690 00:48:48,160 --> 00:48:52,880 in many different ways. >> I'm going to move on just to other 691 00:48:51,839 --> 00:48:55,839 questions. Yes, ma'am. >> Okay. I have nothing against y'all if 692 00:48:54,400 --> 00:48:57,040 you were doing your business. It's what you do. 693 00:48:56,480 --> 00:49:00,160 » Thank you. >> Okay. And I do understand that you want 694 00:48:59,200 --> 00:49:03,520 our input. >> Correct. 695 00:49:00,720 --> 00:49:09,200 » Okay. You're getting a vibe. Some people in this room never got the vibe. Don't 696 00:49:06,240 --> 00:49:12,559 want to get the vibe. We've all, most of us have been there for a very long time. 697 00:49:10,800 --> 00:49:16,559 We don't worry about the fact that our taxes will come down or we've been there 698 00:49:15,040 --> 00:49:20,480 for a long time. It's okay the way it is. And answer to your question or your 699 00:49:18,960 --> 00:49:24,480 question, we're not Oh, yeah. Up there. What else can go in there? How about 700 00:49:22,319 --> 00:49:27,520 more subdivision? It's a big enough area where they could put more homes in 701 00:49:25,760 --> 00:49:32,000 there. So, there are other alternatives than this. 702 00:49:28,800 --> 00:49:33,920 » I have to. >> Yes, sir. 703 00:49:32,559 --> 00:49:36,400 » Can I make a comment, David? >> Yes. 704 00:49:34,319 --> 00:49:40,640 » I've been here 51 and a half years. I was one of the guys that started this 705 00:49:37,599 --> 00:49:44,400 town. I've sat in your chair both as the developer and as the financier of 706 00:49:42,319 --> 00:49:49,520 projects like this. This is a class project 707 00:49:46,240 --> 00:49:52,000 by end of 27. I'll do everything I can to support this. 708 00:49:50,880 --> 00:49:57,119 » Thank you. Thank you. >> Appreciate it. 709 00:49:54,160 --> 00:50:01,040 » I I think my thought is if that entrance into 407 710 00:49:59,200 --> 00:50:04,800 has a traffic light, it would really help the people in not to get the 711 00:50:04,160 --> 00:50:08,800 traffic. >> Okay. So maybe if TS do let you know 712 00:50:08,480 --> 00:50:15,119 that. >> Yeah, it's it's it's we I mean we'll 713 00:50:12,160 --> 00:50:18,400 appeal to text dot. It's it's a text Texas Department of Transportation. They 714 00:50:16,640 --> 00:50:20,880 control that road. We're going to have to get their permission to do anything. 715 00:50:20,079 --> 00:50:24,720 We're going to have to get their permission to to drill under the road to 716 00:50:22,720 --> 00:50:28,000 get to the sanitary sewer. So they're they're they got some pretty strong 717 00:50:26,160 --> 00:50:31,280 opinions. >> Yeah. And so they they may be in favor 718 00:50:29,839 --> 00:50:36,800 of it. They may not. But it's it's really not even going to be be our call. 719 00:50:33,839 --> 00:50:40,880 » Yes, ma'am. So, real quick, since this this site's going to be similar to the 720 00:50:38,640 --> 00:50:44,240 Tom Thumb at Bridalwood, >> correct? 721 00:50:42,319 --> 00:50:52,079 » We could we can make an assumption that it's probably going to have the same or 722 00:50:46,880 --> 00:50:58,000 similar uh commercial revenue generated. >> Yeah, I think that's fair. Yeah. 723 00:50:53,520 --> 00:51:01,920 » So, can you share what the property tax going to Flower Mound is at that 724 00:51:01,119 --> 00:51:04,960 location? >> I don't know. 725 00:51:03,040 --> 00:51:06,880 » I don't know. I'm sorry. 726 00:51:05,440 --> 00:51:10,640 » We can look it up on the tax roles. >> Yeah, I mean it's a it's a computation 727 00:51:08,640 --> 00:51:14,800 of value and what the mill rate is. We we can look it up and we could we could 728 00:51:12,480 --> 00:51:17,280 probably get a pretty good estimate here if that was helpful. 729 00:51:15,760 --> 00:51:21,760 » So, you're going to stay the owner of the property and you're going to lease 730 00:51:19,839 --> 00:51:23,680 the buildings to >> That's correct. 731 00:51:22,480 --> 00:51:26,880 » The commercial users. >> That's correct. 732 00:51:24,480 --> 00:51:32,319 » Okay. So, you will be the property owner >> and and often times the pad site users, 733 00:51:30,079 --> 00:51:36,079 Chick-fil-A or Chipotle or Starbucks or something, they'll they'll often times 734 00:51:33,680 --> 00:51:37,599 want to own that those pad sites. So, I don't want to I don't want to mislead 735 00:51:37,200 --> 00:51:40,880 you, >> okay? 736 00:51:38,160 --> 00:51:45,200 » So, the pad sites could be sold. Um, and ultimately the whole center could be 737 00:51:42,319 --> 00:51:48,720 sold, but that's that through stabilization, through us building the 738 00:51:47,200 --> 00:51:53,280 product and getting it leased up and stabilized, we'll own it. 739 00:51:51,520 --> 00:51:56,160 And we may own it for much longer. Just kind of like we talked about the fence. 740 00:51:55,280 --> 00:52:01,680 Yes, ma'am. >> Uh, is it some requirement that there 741 00:51:58,960 --> 00:52:06,480 has to be an entrance on Simmons besides one that takes the 18 wheelers? 742 00:52:03,920 --> 00:52:10,319 » It'll be it'll be a requirement for any type of development on that corner for 743 00:52:08,640 --> 00:52:14,720 » a requirement from who? >> From the grocery store. 744 00:52:12,400 --> 00:52:19,200 » You couldn't have two 407 >> all the No, ma'am. Not not to make it 745 00:52:16,960 --> 00:52:23,359 viable. fire 746 00:52:21,920 --> 00:52:26,720 » fire to be able to access the buildings and have coverage too. 747 00:52:25,040 --> 00:52:29,760 » But I mean, just to answer your question practically, if it's going to be a 748 00:52:28,079 --> 00:52:33,119 shopping center, it'll have to have a I mean a entrance off Simmons to be 749 00:52:31,680 --> 00:52:36,480 viable. You're not going to get any good tenants if you don't. 750 00:52:34,720 --> 00:52:40,079 » Yes, ma'am. >> What should I do with my sticker? 751 00:52:37,680 --> 00:52:46,480 » On those retention, when we have do have like a 100year rain 752 00:52:43,119 --> 00:52:51,520 next year or the next year, will they be able to be drained out? so that they're 753 00:52:49,280 --> 00:52:53,200 not full and running over and going down the hill to 754 00:52:52,720 --> 00:52:55,599 » Sure. >> houses. 755 00:52:53,920 --> 00:53:01,680 » Sure. It's it's nothing more than a holding tank. So, it's a it's a it's a 756 00:52:58,079 --> 00:53:05,760 big opening with a small discharge. So, it's it's it's a big surface area three 757 00:53:03,440 --> 00:53:10,160 and a half three three and a half acres and then the water is discharged at a 758 00:53:08,240 --> 00:53:13,440 slower rate through a small valve at the end of the pipe. 759 00:53:11,599 --> 00:53:18,960 » Discharged where? >> Just primarily below into that pond 760 00:53:16,319 --> 00:53:23,680 there. wherever the we're we're responsible for 761 00:53:21,839 --> 00:53:29,119 discharging the water out as it would naturally be discharged if there was any 762 00:53:26,640 --> 00:53:32,880 development above it. So, it's going to roll downhill, 763 00:53:31,119 --> 00:53:37,680 but it's only going to roll downhill at the same pace that it would if the 764 00:53:35,119 --> 00:53:41,800 property was not developed. >> That's my That's our requirement. 765 00:53:42,240 --> 00:53:45,839 » Anything else? >> What do we do with our sticker? 766 00:53:45,119 --> 00:53:48,880 » Tell us about this. >> That's why I was just going to 767 00:53:49,440 --> 00:53:54,079 Thank you. I appreciate it. [clears throat] 768 00:53:51,119 --> 00:53:59,760 » Thank you all. [applause] >> Again, folks, this is preliminary. We 769 00:53:57,599 --> 00:54:04,640 want as soon as we found out that the contract was at the stage it was at, we 770 00:54:02,240 --> 00:54:09,119 scheduled this meeting. We've had three meetings with these developers. All 771 00:54:07,680 --> 00:54:12,319 right. The first time when we went through the rules and says you can't do 772 00:54:10,559 --> 00:54:16,960 this, you can't do this. They have to have called us back. All right. And then 773 00:54:14,800 --> 00:54:21,119 we had a meeting just a week ago. So we're still in the learning process as 774 00:54:18,800 --> 00:54:25,119 well. As far as the stickers are concerned, you've got three pictures up 775 00:54:23,440 --> 00:54:28,640 here if you want to come up and just put the sticker on which picture that you 776 00:54:27,040 --> 00:54:33,040 think would be uh the best architecturally. That was only done to 777 00:54:31,119 --> 00:54:38,720 just get a little bit of excitement going to get some idea on what you all 778 00:54:35,920 --> 00:54:43,839 like. Um it could it could be something that if developed might be completely 779 00:54:41,599 --> 00:54:50,319 different. So, we just wanted to start here. We're at the very, very, very 780 00:54:46,400 --> 00:54:54,800 beginning of if this moves forward. >> So, with that said, we're going to run 781 00:54:52,319 --> 00:54:58,160 out of time here with the church. So, um there will be more public meetings. 782 00:54:56,480 --> 00:55:02,800 There will be more information shared to the town as things progress, if it 783 00:55:00,319 --> 00:55:06,880 progresses. So, I appreciate you all coming out on Saturday. Thank you. feel 784 00:55:04,800 --> 00:55:12,079 free to come up and and put your sticker on one of the three there if you'd like 785 00:55:09,359 --> 00:55:14,000 and we will uh talk to you all here and keep you informed as we move forward. 786 00:55:13,520 --> 00:55:16,559 Thank you. >> Thank you.