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Any further ahead, your head, giant. Meeting, meeting, meeting, you can just click on the shelf up there. Oh, please. And that gives you.

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Order the next item.

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That meeting ID, the webinar ID. Yeah. 6, 7, 6, 4, 7, 4, 5, 6, 7, 4, 5, 5, 8, past, I mean.

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Thank

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you.

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Welcome.

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Welcome to the point of the mountain state land authority board.

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We welcome you who are assembled together here with us in live

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session as well as those members of the public who are joining us

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virtually.

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As I mentioned, this is the point of the Mountain State Land Authority board meeting regularly scheduled and noticed for today.

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My name is Larry Snow. I'm one of the co-chairs and seated to my left is representative Jordan Tasha, who is the other co-chair.

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And I'm reminded by our director that we now have a quorum assembled here in person.

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and then we also have some additional members

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who have joined us virtually making a quorum.

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So with that, we'll move forward.

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Since our last meeting, site crews continue

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to make good progress on critical background

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infrastructure at the site,

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as we prepare to go vertical, as they say later this year.

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We look forward today to a presentation

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from our point partners, known as the point partners,

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they will highlight the timeline for that construction

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and what Utah's citizens can expect to see on site.

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We will also be pleased to receive a legislative recap

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and report from Representative Tusher.

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Of course, Surson legislature, a member of the House,

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and he's going to update us and educate us on relevant legislation past this last session.

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So with that, we'll move on to the next item on our agenda, which is opening this meeting up

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for public comment. We do that because we recognize that the point is a public entity and as a board,

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We have a responsibility to ensure that the project reflects the public values and that we hear public comments. We hear from the public. We take that seriously.

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That's why we take this matter up near the beginning of our agenda.

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We value input from our residents and citizens.

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As long as they follow the procedures outlined in the posted agenda.

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We have some folks here appearing in person and we have members of the public joining us online. So with that we'll ask anyone in this meeting that's a member of the public that cares to make comment come forward.

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Don't see anyone coming forward or raising their hand and so I'll ask Jen do we have any member of the public requesting comment.

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Okay. So with that, we will move on to the next item on the agenda which is to consider

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approving the minutes of our last meeting held February 11th, 2026. We'll consider approving

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those board minutes. We're grateful to Jim for making sure that board members receive

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a good and accurate complete record of those minutes. I've reviewed them. Any comments

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from the board before I consider a motion with respect to approving those

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moments.

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Motion to approve minutes by Mayor Walker. Do I have a second? Second

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by Representative Tusher on favor of that motion. Say aye. Aye. Any opposed? Say nay.

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I'll rule a motion carries unanimously. The minutes, those minutes of the February

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your 11th meeting are approved.

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Next item on the agenda.

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We do this regularly when we meet

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is for a financial update.

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In a few minutes or in a minute,

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we're going to turn time to Don Willie,

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who is the director of our operations.

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Also, as a public board, we recognize

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that the trust placed in us by the public

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to ensure that the authority funds are appropriated

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and spend in a manner consistent with our approved budget.

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So with that, we'll turn the time to Don,

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as I said, our director to review our monthly financials

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ending February 28th of this year.

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Don, let me make sure, do you have a,

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let me make sure your mic is on.

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I think you have a light now.

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Thank you, Chair Snow.

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I appreciate that.

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They'll make us a quick update.

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We at this point in the end of February I should have 33% of our budget remaining of our total budget we have 86% remaining so we are in a healthy financial state.

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We do have several large invoices that have been paid since the end of February or we expect to be paid that will help to equalize and bring us on track.

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So we'll see that update in our next meeting.

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We do have three budget categories on which we are burning a little high these have been addressed in prior meetings, but just to recap insurance and bonds and membership dues are both one time expenses, so they show as a higher burn rate at the beginning of the year and equalized by the end of the year.

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The one where we've been tracking and watching this is on our data processing charges.

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This will just require in our next board meeting a budget adjustment.

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We had an extra machine on the bill with DTS that we didn't budget for originally.

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And so with that understanding, we'll now be able to make sure that we budget correctly in the next fiscal year, 27.

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But in this, we'll require just a budget adjustment in our next board meeting to carry us through the end of this fiscal year.

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Aside from that, everything is looking on track.

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Thank you, Don.

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Is that complete your initial report?

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It does.

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Thanks.

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Questions or comments from members of the board?

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I would recognize, again, or recognize members of our finance and audit subcommittee, Mayor Ramsey,

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Mayor Walker and our director, Michael Embrae, any comments from any of members of that subcommittee?

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not seeing lights and not indicating members who were joined as virtually indicating

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they have any questions the chair would entertain a motion approving the financials to the

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ending February 28th, 2026 is presented by our operations director of operations.

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So moved by Mayor Walker. Do I have a second? Second by Representative Tushard. All in

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favor that motion say aye. Aye. Any opposed, say nay. Motion carries unanimously.

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Thank you. And Mr. Territz, Jenny Wilson, I was on for that vote. Sorry for the delay today,

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and I'm an aye on that question. Thank you. Mayor, we will register you vote accordingly. Thank you.

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Next item on our agenda, I'm pretty excited about, so Robert, would you like to come forward?

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I'm sorry, Robert, you can come forward, but I don't want to, let's

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see, yes.

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Item number five is the Point Partners update.

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Robert, I'm glad to see you, and I know your partner to your right, but I'm glad to have

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you both here. Let me get both of your mics on. We try to invite you quarterly, as you know,

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to provide an update on the development. Robert is the vice president of development. The

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wads of the wads were a development group. We appreciate our relationship with our partners

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and we're reaching I think a bit of a little time with the development and so I'm probably not

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the only one excited about this update. I think members of the board are generally so with that

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we'll turn the time to you. Take it. Thank you co-chair snow. Is this on? Yes. Just keep it close to you.

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We have Zach Clegg here with me who's with Lincoln Property Company also Vice President

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with Lincoln. So happy to be here. Very much appreciative of the relationship also that we have with

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Porti Mount State Land Authority Board and staff specifically who we work with.

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On, I would say an hourly basis on a daily basis. So it's

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staff and us are on the on the phone, you know, multiple times a day working through

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numerous things. So we're just working on pulling up

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the presentation here, trying to get joined in.

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As we do that, maybe I'll just add live for just a second on the project.

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You know, real estate development is something, and especially real estate development at this scale.

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It's not something that moves in weeks or even months.

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It's something that at quickest moves in quarters and half year kind of increments.

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And so I think what you'll see in this update from us is that that's happening that where we're moving many kind of multiple simultaneous these things forward.

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But we can talk about the problem on some of these things that are really kind of nearing the end of starting to get to a point where we can start construction and other pieces are moving to getting to that point as well.

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Well, we will be breaking ground this year.

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And since we can pull it up, I can give you a better update maybe from the slides.

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But we'll be breaking ground this year and looking forward to doing it.

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We have, from a high level, we have the promenade.

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We have the event venue.

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We have our H5A development, which is multifamily over retail.

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So we have H3A, which is multi-family office and retail with the public parking deck.

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On those two pieces are two separate projects.

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The public piece and the private piece is moving simultaneously together.

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And then we have our affordable housing item happening.

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We have a hotel partnership that we're forming and working on.

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So multiple items.

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All right.

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I think we've got it here.

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Okay. We're up.

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So I talked about, I talked about the numerous projects we have going on. Here's

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a visual that you can see, you know, the kind of the core of the core of the hub of the development,

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starting with the promenade, one being that promenade road. It's more than just a road, right? We have the

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kiosks buildings that are retail buildings inside the middle of the promenade. We have kind of a destination

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nation to hang out and that road and other improvements is our first project that's going

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to be breaking ground.

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We are on that project 90, well effectively we're at 100% we're on a conformance set

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now in terms of plans.

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We had a call yesterday with Mike and the team, this will be our first project, the promenade

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if you want to go to the next slide, Zach, maybe we'll pop back, but this

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promenade, this is the first project that we have that is moving forward under,

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you know, Palmsla as the governing body. And so, you know, Mike can attest, we are

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working through things. Everything we're doing right now is for the first time.

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So, trying to work through impact fees and trying to work through, you know,

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what entitlements and what does the approval process look like because this is an

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agency that set up and we're doing it all for the first time and we're working

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through that. The good thing is is we're working together and we've identified

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yesterday kind of the four or five key steps that we need for this

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promenade in order to break ground. We've got next 60 days in here. I think it

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should be shorter than that in terms of breaking ground on our promenade. So that's

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exciting. Yeah. So not holding you to time frame but when do you think that

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that might actually occur.

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I put in here next 60 days for this public meeting, representative, or Larry, and then I think we're targeting an April start. But we have a few key things that need to happen. We need a waiver from, you know, Jordan, Jordan Basin, sewer district. There's a board meeting on the 24th. So there are a few things that are kind of, we're dependent on to, in order to hit that time frame.

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So I'm giving myself a little cushion there, but let's call it April or early May is the target. That's great news. Sorry interrupt you. No, no, appreciate it. Please ask questions as we go.

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The next item is the entertainment venue and Zach, maybe we'll just go back up on the visual of where things sit.

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But there we go, so the next one is number two on that slide, and that's the entertainment

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venue.

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This is the public infrastructure districts project, and this is well underway.

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In fact, today at this very hour there's a group in California selecting finishes with

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Gensler who is the architect for suites and other materials inside.

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So we are at a SD set of plans or we finalized our SD set of plans moving on to construction documents for the event venue.

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We're really excited about this event venue.

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We continue to be excited about it and think that it's going to be a great draw for the project. So that's well underway.

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We have also got our contractor. We've done an RFP and went out and selected latent construction. So now we're getting our initial pricings back to make sure that we're in line right now pricing is kind of come in line with kind of expectations.

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conditions slightly, actually a little more slightly favorable than what we were holding.

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We're not, I suspect there will be additional items that come up as this always is a case,

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so right now we're in line with kind of budget and expectation, but we have that contractor

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on board.

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The next one is our mixed use project, H5A, and that one is located here, as you see on

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the screen as number three on the screen.

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Yeah, and I can speak to this one a little bit.

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So this is our first privately capitalized vertical

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development that will be out here at the point.

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This project is, as you can see here, a 360-unit multi-family

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building for rent apartments with about 42,000 square feet

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of ground floor retail.

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And really, this building will be the,

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It will be class A on par with the projects you see in Sugar House,

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Brickyard, mid-rise, class A apartments, it will be the nicest apartment building south

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of Sugar House and you know there's maybe one or two along the way but we're bringing

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what we think will be a really kind of transformative project to this area of

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a silicone slopes that will give those people the want to work here that the type

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of living environment that they seek in these kind of urban mixed-use communities.

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We've got an army of folks working on this, we're now at 50% construction documents, so if we're looking at percentage drawn, we're in kind of that like 80, 85% complete range, and with the next, you know, kind of 10 to 15% left to go or 20%

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You know, I was in a meeting Monday for nine hours with our architects, structural, electrical, mechanical engineers, going through all of our drawings, page by page, doing a page turn.

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You know, we're working in earnest on this project. I think with where we sit, it's all about trying to get the budget in the right spot and continuing to make this project as attractive as we can to financing partners.

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So continue to work on that. We're excited about what we're building and designing there.

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And that's that's project that's further still long.

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The other project we're super excited about as well as another mixed use building.

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This is if we go across the street up here on the visual here.

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This is this number four that we have this mixed use project.

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It's essentially three buildings that wrap the public parking structure. This will be the first parking structure that we will be built.

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That's a thousand-stall parking garage that will serve a lot of the retail and the public and entertainment uses.

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We have really three buildings. These two that wrap the garage and then this other third project right out for building out here. This will be two floor jewel box retail.

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That project we are currently through our 100% schematic set, so we've been working through those drawings for the last few months.

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A rendering you can see of the office building.

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This will be 70,000 square feet of retail, a little more than 30,000 square feet of office and about 50 residential units.

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Kind of boutique, higher end.

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And then it'll be wrapped around that thousand-stall parking garage.

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We're out right now with our RFP for general contractors.

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So we're getting bids.

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We've done some pricing and we're getting our first kind of initial bids back and we'll

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select that contractor over the next two to three weeks.

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So similar to the other one across the street, advancing design as quickly as we can.

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And continuing to move that project forward.

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I just note on that one, Zach, that that's on the private side we're out in addition to that is that parking deck behind which is owned by the public infrastructure district.

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And so we're on a kind of a separate procurement mission working hand in hand with Mike and DFCM on a kind of public procurement design build contract for that parking deck that would kind of sit.

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sit, hat in hand, and work closely with the private development next tour.

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So those two kind of initiatives are happening simultaneously.

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Thank you.

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Yeah.

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And then the next project we'll talk about here is this number five bullet.

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Really as we think about it, like conceptually as we think about timing and how we're delivering

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this, in order to make this development really function to be a community, we have to deliver

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the right critical mass at the right time.

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And so we're working on delivering the four corners of the promenade.

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This is the convergence hall right across the street from here.

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But the first big multi-failing project we talked about is mixed use projects we talked about.

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The next one we'll talk about in convergence hall.

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We're trying to align the timing of those such that they deliver around the same time.

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So that when people move in tenants, residents, we have at least like that main hub of the community.

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Otherwise, retail tenants are not going to pay us rent.

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They're not going to open their stores.

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if there's nothing across the street and so it's a coordinated effort right now given the location

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and the current greenfield nature of the prison to get the right hub and density at the opening

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date. So the coordination piece of those deliveries is really critical and is really a challenge to

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be to be fair. The H5A project is almost a three year delivery time frame. Well, it might

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be half of that for the hotel. And so looking at construction starts, and when we want to start,

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that's something we're working through now to say, because I'm sure the public is saying, well,

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when are we going to start? We need to coordinate those start times such that our delivery times

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just match up as opposed to one building that's open for a year while we wait for other buildings to be open.

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We'd like to have it call it within a six month period.

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These things line up so the start times are a function of the end time as opposed to the end times being a function of the start time.

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That makes sense, which is probably a little backwards right and on most real estate developments.

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It's get out of the ground construct delivers soon as possible, which is certainly the case on that first large building.

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that's long we got to start first. These other buildings, there's a strategic reason for not starting

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early, right? So the other project that's going to be privately capitalized that's part of that

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first phase is a 175 roughly key hotel. This will be a four-star concept we're currently working

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with a hotel developer, an operator that will own and operate the hotel and we will own and operate

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the retail on the ground floor so we're working through the kind of agreement and partnership with

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that which we'll be bringing towards you know the POMSLA staff in the coming you know kind of weeks

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or months and really excited about it really excited about the concept that they have and what

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this will bring to the South Valley there's really not hotels of quality and silicon slopes right a lot

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of the folks to come in for tech week and those conferences will stay downtown eat downtown and drive

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down to Lehigh. This will bring a four-star concept. We're not doing, you know, full service

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and a conference convention center and everything. I think that the entertainment venue will

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solve that. Convergence Hall will have that. We're not going to bring a third convention center

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into the arena, but this will bring a great place for people to stay. So we're really excited

247
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about that. Exactly. Yeah. I don't suppose you can share a brand with this.

248
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not at this point. Okay. Yeah. Yeah. All right. I thought you would say that, but I thought I'd

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Yeah, we're close to close to saying that we're we're trading paper with the operator on some of

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those things, so I probably don't want to publicly. Thank you. I'll point out, you know, because I'm

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the details guy, right? But this has been a challenge to be honest. I'm trying to find the hotel operator.

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We've gone through multiples of users. All of who have a strong interest who want to be here on

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the site, but most of which have call said, but we want to wait a year or two, and we'll

254
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just have this land sit. And then once this thing is accessed, then we'll come, which

255
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really is not an option, right? We need it to go. And so some of our, you know, all of

256
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there's a tremendous amount of desire to be here, but there's little desire to be here

257
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first, right? And so threading that needle with the operator who says, we will come and make

258
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this bet with you, simultaneously has been a challenge and we've identified partners willing

259
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to do that and who has tremendous amount of experience and will bring credibility and so

260
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that's been some of the, you know, in kind of just full transparency, some of the challenge that

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has been to try and get this hotel to happen kind of simultaneously with all the other uses.

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But I think we're, we're there.

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Right.

264
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Yeah.

265
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Let's see.

266
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And I think the other project we have going on that we're

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excited about is our affordable housing project and a

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partnership with out the Bay Capital local affordable housing

269
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developer, which is gone through the first two meetings and

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presentations to pumps the staff to go through concept and

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design review.

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And this will be part of delivered as part of that first phase.

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And this is where, you know,

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Hopefully, a lot of folks that work at the hotel,

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that work at the retail,

276
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are just working that part of the valley

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and draper in that city.

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We'll give them an opportunity to come and live

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in a great community.

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So this project, I just going back to the map,

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sits just a block off the promenade.

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This is this number six right here.

283
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This will be over two phases, 400 units.

284
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They just onboarded their general contractor.

285
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I say they were partnered together in that,

286
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we're a co-developer with them in that we're working on the design and the meetings.

287
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They're really leading the charge because affordable housing is their business, right? And so

288
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likewise with timing, we're all working in coordination there, but they are

289
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kind of at a similar spot we are on this mixed use project where we're

290
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gone through iterations of the schematic review. We've been through the POMSLIP

291
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staff review process and now bringing on general contractors and looking to apply for their

292
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tax credit allocation that will likely be the summer, again, it's a kind of timing coordination

293
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effort. They'll be ready to go. It's whether or not it makes sense for them to go then,

294
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or whether it makes sense to go in the fall. We're just kind of still working through that. But

295
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so, you know, between those four projects, really the three in design, the three mixed use,

296
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and then the affordable housing projects, really that's where our design and construction teams and

297
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ourselves are focusing our efforts on trying to make those as efficient as quality and as you know

298
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economically viable as possible. And right now from a timing standpoint, we've just started the

299
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process for this first phase. We finally reached a process where we feel like the project is advanced

300
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far enough that we can now go put that in front of our financing partners. We have

301
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documents to a point where we've gone through multiple pricing sets. We feel very good about the

302
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the budgets we're putting in front of them, we have advanced leasing with retail partners

303
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and getting L.O.I.s and deals that are at this point somewhat papered ready to go forward

304
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subject to further advancement of the project, that now we're at that spot, which where really

305
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our critical path are the efforts of the capital raise, and that's where we're now really

306
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focusing a lot of our efforts on.

307
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And so we've launched that within the last call it, you know, six weeks and we're looking

308
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at, you know, we're working on onboarding an additional kind of firm with, you know, supporting

309
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and helping with those efforts, working in concert with them.

310
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And that's where we sit on, when we'll go vertical, the critical path is now getting the financing

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on board to finance it's over $225 million of development in our first phase. And so that's

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where we sit.

313
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So from a project standpoint, you had those six projects we highlighted,

314
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in addition to that, some other things that are happening, not necessarily in the order on the screen,

315
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but we are coordinating closely with convergence hall. That's that fourth corner of our main and

316
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main, if you will. And so we both need each other,

317
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convergence and the point partners. So we are coordinating

318
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closely having regular meetings with them, such that we can

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time our deliveries there as well. And that we are at regular

320
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meetings, working through many different items of who's building

321
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what are we putting in the trees, are they putting in the

322
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trees, are they putting in the sidewalk, you know, and as you

323
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to get into it, there's a lot to-

324
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And, you know, we're working with, we're assisting them in terms of their, their retail layout, you know, this last meeting we worked on trash and saying, hey, that's probably not going to work for these reasons. You might want to think about this sort of thing. So we're, we're kind of iterating on those sorts of things. Jumping into retail, we have a number of letters of, let's say letters of credit letters of intent on, on retail. We have more restaurant demand, I think, than we can fit.

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here at this at this project so we are being somewhat selective and also going and and trying to hit a home run as it relates to people who aren't in the market at this point people who would come to see this we had not that we don't want local businesses we want a good mix but we do want to have those new to market entries that would be a real draw to the project and so we are spending a fair amount of time we're preparing our materials for ICS see this year which is in May and putting our collateral together now for that.

326
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I think this year and probably next year will be the more productive years at ICS that we've

327
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gone down in the years in the past. And again, for those who are not from ICS is the International

328
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Council of Shopping Center. It's kind of the main retail conference of the year that happens in

329
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Las Vegas. And so we'll be heading down there in May, pushing, I mean, at this point it's really

330
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advancing conversations that we're already having with retailers as opposed to identifying, maybe there

331
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will be some brand new tenants that we meet with,

332
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but it's furthering those conversations.

333
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The reality is in order to finish

334
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and finalize conversations with retailers,

335
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we have to get the design to a point that we can do that

336
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because they have specific questions about loading

337
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and very technical questions

338
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that the design's not quite there to answer those sorts of things.

339
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So we're kind of advancing each piece

340
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as we're able to advance them simultaneously.

341
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We had a good meeting in the last one was it might two two weeks ago with with coordination with now go ahead.

342
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And with palms about how we can best coordinate from an office perspective, large users.

343
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How can we go attract those users and one of some of the conclusions that we had from those meetings were one we want to coordinate our efforts together.

344
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So we've identified a few things that we can do there in making sure we're on the same

345
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page and communicating the same message from our low R brokers, our team, the palms of staff,

346
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as well as GoEd, and kind of coordinating that effort. But also, we've recognized that there

347
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is somewhat of a linear path before someone who rhymes with flugal would come and want to be here,

348
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there needs to be an amenity base.

349
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There needs to be something as opposed to, you know,

350
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it's just dirt.

351
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And so that's why we focus heavily on this amenity

352
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and the promenade and the event center

353
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and this retail experience that then can say, okay,

354
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now there's something here for people to look at.

355
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And so that's very much the mission,

356
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but the reality is that these big corporate occupiers

357
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will come probably after some of this stuff is in place,

358
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which is why we're focusing in and doing it in that manner.

359
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But we are still working on those.

360
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There are, I think I've shared this in the past.

361
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There are users in the market who would come here,

362
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significant users.

363
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There's probably right now a bid-ask spread

364
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in the office market, the current,

365
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and this isn't a point problem.

366
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This isn't anywhere in the market problem

367
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in order to get any sort of return

368
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and not lose money on a new construction.

369
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We have to charge rents that are more

370
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than what the market is willing to bear right now

371
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because there's a lot of vacancy in the office market, but generally people are willing to pay

372
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up for a class A experience that has a lot of amenities. And so that's what we're banking on.

373
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Our time frame is such that we're a little bit too far out from deliveries for when people

374
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look, but we're still pushing those and having those conversations. And I may maybe add to that.

375
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I think we're finally starting to see across the country and locally our first kind of green

376
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issues in the office space, both on the capital market side, either sell or financing

377
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the buildings where values are coming back from an apocalypse, like people were losing

378
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100% losses, all of their equity if they had financed it with that was essentially

379
00:34:24,580 --> 00:34:30,020
washed as of the last couple of years. And we've seen a couple, we've seen a first transaction

380
00:34:30,020 --> 00:34:34,620
close, another one that will be, you know, probably on the horizon, where you're getting

381
00:34:34,620 --> 00:34:39,780
back to evaluation, that it's making sense and we're seeing leasing return in big in some

382
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the coastal markets, seeing good movement there. So I think we're optimistic that we're heading

383
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in the right direction. Robert's point, we go out and we quote still 60 to 70 percent higher than

384
00:34:51,640 --> 00:34:56,760
what they're quoting in the best buildings downtown or in Silicon Slopes, but that's not a point

385
00:34:56,760 --> 00:35:01,040
issue. That's an everywhere issue. So unless you have a campus user that wants to do build to suit,

386
00:35:01,600 --> 00:35:07,400
it's hard. That formula still isn't work, but I think we don't much better now than we did a year

387
00:35:07,400 --> 00:35:14,280
go because we're starting to see the first kind of posts on the scoreboard that make it feel like

388
00:35:14,280 --> 00:35:19,060
we're getting back there. And the good thing is we're focused on the first thing first, right? So

389
00:35:19,060 --> 00:35:23,400
we're hoping interesting that the market is there. So when we have these things, it's going to line up

390
00:35:23,400 --> 00:35:30,060
so that we can move the project forward from an office perspective. We talked about hospitality

391
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and convergence. Just a couple other things. We're working coordinating policy with staff on

392
00:35:35,300 --> 00:35:38,600
kind of an operational model of how we're going to function at the point relating to

393
00:35:39,240 --> 00:35:45,240
you know governance. We're working on a large marketing push that we're coordinating on with

394
00:35:45,240 --> 00:35:51,700
palms level from a you know TPP and what we're doing and you know naming our projects so we don't

395
00:35:51,700 --> 00:35:57,720
call you know come state h5a right so we're working on a marketing pieces for each of our projects

396
00:35:57,720 --> 00:36:04,080
that's underway some video pieces that we're working on. So there's a whole marketing initiative that's

397
00:36:04,080 --> 00:36:06,460
been kicked off in the last 60 days.

398
00:36:09,830 --> 00:36:12,270
Sorry, last my turn, I thought I had a couple of things I was

399
00:36:12,270 --> 00:36:12,650
going to mention.

400
00:36:15,370 --> 00:36:19,510
Robert, if you have a second, I have some things to refer to in. Please.

401
00:36:21,410 --> 00:36:26,770
Sorry, I'm out of town. No, just first off, I just want to say I thought that meeting was very

402
00:36:26,770 --> 00:36:33,050
helpful for my team and your team. I felt like we were pretty aligned, but I think we

403
00:36:33,050 --> 00:36:39,790
recognize there's a lot more we can do to tighten that up. One of the things that I'd mention

404
00:36:39,790 --> 00:36:45,490
in that meeting and I pass it across to anybody else, we actually are in the process of hiring one

405
00:36:45,490 --> 00:36:52,110
of our corporate outreach people who just happens to be, we'll be covering that area. So kind of

406
00:36:52,110 --> 00:36:59,450
snorty tech county, South Salt Lake County, and this person would have a very strong engagement in

407
00:36:59,450 --> 00:37:04,030
this project and so we're looking for we want the best right we want to get

408
00:37:04,030 --> 00:37:07,630
somebody we're willing to even take somebody from a non-traditional if they

409
00:37:07,630 --> 00:37:11,050
have a brokerage background business development background we can teach

410
00:37:11,050 --> 00:37:15,050
them the other skills but we really want somebody who really gets what we're

411
00:37:15,050 --> 00:37:18,910
trying to do at the point and so I see that really is an extension of the

412
00:37:18,910 --> 00:37:23,630
developers and and and Pomsla as we really nail the right person the other things

413
00:37:23,630 --> 00:37:29,210
that we're doing internally that I hope will help is we're building out a whole

414
00:37:29,210 --> 00:37:36,250
research team, I hired a guy who leads our Sandbox program who also had 15 years as a

415
00:37:36,250 --> 00:37:43,390
professor, he's a former policy advisor, and the legislature, I pulled him over to really

416
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help out on a regulatory environment and making sure that we're promoting the incredible regulatory

417
00:37:49,930 --> 00:37:53,890
environment. We have the Sandbox that we have. A lot of the businesses that we're talking to

418
00:37:53,890 --> 00:37:56,930
on corporate engagement, that is becoming a bigger priority.

419
00:37:57,090 --> 00:38:00,930
Anything around AI, life sciences, energy, the policies these

420
00:38:00,930 --> 00:38:03,750
states are developing are really determining a large part

421
00:38:03,750 --> 00:38:04,430
where they're going.

422
00:38:05,230 --> 00:38:08,250
The other person we're hiring is an education expert too.

423
00:38:08,670 --> 00:38:12,110
Really is deeply ingrained in all of our education programs

424
00:38:12,110 --> 00:38:14,710
with talent ready with universities, with custom feds.

425
00:38:15,070 --> 00:38:20,170
Every corporate person we talk to always comes back to this.

426
00:38:20,690 --> 00:38:22,970
And so we'll have somebody dedicated on our team.

427
00:38:22,970 --> 00:38:26,830
And I say all these people with disposal to you guys as well, right?

428
00:38:27,010 --> 00:38:27,810
We're a team on this.

429
00:38:28,350 --> 00:38:33,050
The third is, I'm with right now, Tyler, who really is the ecosystem building.

430
00:38:33,110 --> 00:38:42,830
A lot of these companies, especially the R&D heavy companies, really want to be around great research that's happening, startups that's happening, venture capital ecosystem.

431
00:38:43,650 --> 00:38:51,550
And so I also have Tyler participating in these meetings to really help them understand the full scope of what they're being provided.

432
00:38:51,550 --> 00:38:56,290
So there's not just a, hey, Utah's awesome, here's some accolades, but we want to get you deeply

433
00:38:56,290 --> 00:39:01,450
integrated into this ecosystem very quickly. Finally, we're doing soft landing for international

434
00:39:02,810 --> 00:39:06,750
businesses. We're building into that to where they can kind of spend a month and get immersed

435
00:39:06,750 --> 00:39:13,150
into our ecosystem. Rather than having to go to New York or LA or Boston, where many of them don't

436
00:39:13,150 --> 00:39:17,990
want to live, we're making a very conducive play. So as we're out talking to people all over

437
00:39:17,990 --> 00:39:20,150
of the world, we're building these partnerships

438
00:39:20,150 --> 00:39:23,090
with other innovation districts that want to have Utah

439
00:39:23,090 --> 00:39:26,870
be their kind of start, foothold, as they come to Utah.

440
00:39:27,710 --> 00:39:29,010
And so there's a lot of things like that,

441
00:39:29,010 --> 00:39:32,430
but one thing I just want to say is I appreciate us

442
00:39:32,430 --> 00:39:34,410
tightening it up knowing who's talking to who.

443
00:39:35,030 --> 00:39:36,550
And then I say all that, that's you guys.

444
00:39:36,550 --> 00:39:38,790
Just to leverage us anytime, if you have anybody

445
00:39:38,790 --> 00:39:41,670
you're talking to, that has buttons on different things.

446
00:39:41,810 --> 00:39:45,350
Obviously, Lupa Sam, we would love to help tell

447
00:39:45,350 --> 00:39:46,290
the Utah story for you.

448
00:39:47,130 --> 00:40:01,890
We really appreciate that Jefferson and I agree with you. I think that meeting was great. I look forward to doing it again in the in the you know, I think we talked quarterly is Mike if I'm recalling correctly and so I know that dawn.

449
00:40:02,370 --> 00:40:06,670
We had a number of takeaways from that meeting and accept for each of us and so.

450
00:40:14,170 --> 00:40:20,070
So yeah, we're going to meet quarterly with TPP and GoEd and then internally palms

451
00:40:20,070 --> 00:40:23,270
that we'll meet every month trying to be a little bit more proactive.

452
00:40:24,530 --> 00:40:29,150
So we look forward to that partnership and it's impressive the stuff that you're implementing

453
00:40:29,150 --> 00:40:33,950
to efforts in there at GoEd, in terms of putting some of the baseline structure

454
00:40:33,950 --> 00:40:38,930
and some of the softwares that you guys mentioned you're implementing to assist in the efforts there.

455
00:40:39,150 --> 00:40:41,850
So applaud you there and look forward to coordinating further with you.

456
00:40:42,570 --> 00:40:48,030
I think that's probably where we'll leave it from an update perspective but happy to take any

457
00:40:48,030 --> 00:40:56,090
questions if there are any. Thank you Robert and Zach. Appreciate that presentation. Let's turn it to

458
00:40:56,870 --> 00:40:59,450
board members for your questions or comments.

459
00:41:02,860 --> 00:41:06,320
Well I have a few. That's okay and maybe this

460
00:41:06,320 --> 00:41:12,380
will prompt some others. Jefferson, thank you for your comments. And this question may

461
00:41:13,020 --> 00:41:20,460
be for you as well. Are we coordinating any of our efforts? Is there any interest

462
00:41:21,600 --> 00:41:27,160
on the part of EDCU? Are they looking at what we're doing? Is there any interest there and are

463
00:41:27,160 --> 00:41:28,160
or are we coordinating there?

464
00:41:30,740 --> 00:41:32,140
I would defer that one to Jefferson.

465
00:41:33,100 --> 00:41:33,220
Yeah.

466
00:41:34,300 --> 00:41:35,660
Yeah, Larry, actually, Chair.

467
00:41:36,880 --> 00:41:40,980
We just signed an MOU with them.

468
00:41:41,100 --> 00:41:41,940
And I don't know if you saw it.

469
00:41:41,940 --> 00:41:43,260
We did a press release about it.

470
00:41:44,440 --> 00:41:45,860
There had been some confusion

471
00:41:45,860 --> 00:41:49,480
from when it can't be contract was canceled

472
00:41:50,000 --> 00:41:52,800
about what lanes kind of we each played in.

473
00:41:53,400 --> 00:41:54,920
So over the last few months,

474
00:41:54,920 --> 00:42:01,360
me and my team have been working with their team to really drill down on where the strengths

475
00:42:01,360 --> 00:42:07,180
of the C-Char rather than trying to duplicate and so we were able to narrow in on eight

476
00:42:07,180 --> 00:42:13,960
targeted areas and basically acknowledge here's where Goyo really should play the lead

477
00:42:14,440 --> 00:42:20,640
and then this is where EDC should really be leading out and so the good news is we have a very

478
00:42:20,640 --> 00:42:27,920
clear line of lands and responsibility. And now I would say our partnerships better than ever.

479
00:42:28,160 --> 00:42:32,940
So yes, the goal is that we get them actively involved as well in helping promote this,

480
00:42:33,040 --> 00:42:39,300
but doing it in a unified way and not a, I would say somewhat, I wouldn't say contentious,

481
00:42:39,440 --> 00:42:46,140
but confusing way. I'd say confusing before. Now I could say we're much more aligned due to the

482
00:42:46,140 --> 00:42:55,420
that we side. Thanks Jefferson. That's I think that's great news. Another question I have is

483
00:42:56,270 --> 00:43:08,080
in our last planning meeting that I attended. There was discussion about more intense marketing

484
00:43:08,080 --> 00:43:16,460
effort and we talked about planning and shooting a video of professionally and well done. We talked

485
00:43:16,460 --> 00:43:22,820
about a date when that might come out, is that still in process? And are we going to be able to

486
00:43:22,820 --> 00:43:28,440
hit that date? Yeah, we, of course, coordinating yesterday with the video team in terms of,

487
00:43:29,020 --> 00:43:34,780
we've now had, I don't know how many meetings, a few meetings on that, and we've got the group hired.

488
00:43:36,980 --> 00:43:43,580
Putting together a professional video is, there's lots of moving pieces to that,

489
00:43:43,580 --> 00:43:47,560
those are architectural renderings so we got to hire the architect to do certain things if we want to

490
00:43:47,560 --> 00:43:52,300
fly through video and then there's some interviews and then there's the content and who's our audience

491
00:43:52,300 --> 00:43:57,200
and so we've been working through all of those things and right now we're on target yes so that is

492
00:43:57,200 --> 00:44:00,680
part of the marketing effort that I referenced and underway.

493
00:44:03,080 --> 00:44:05,800
May Ramsey'd like to know what the target

494
00:44:05,800 --> 00:44:13,900
day is June. That's what I recall. Other questions from you have any questions?

495
00:44:17,670 --> 00:44:19,630
Yeah, thank you. Jeff,

496
00:44:19,750 --> 00:44:25,510
I appreciate your letting us know about. I haven't seen the press release about the MLU between

497
00:44:27,230 --> 00:44:33,350
GoEd and EDCU tuba that I think that's really good and I used to be very involved with that organization

498
00:44:33,350 --> 00:44:37,910
and so I'm happy to hear that because it has been a little confusing I think for people and so that's

499
00:44:37,910 --> 00:44:41,450
good because especially with this point project comes together.

500
00:44:41,770 --> 00:44:46,050
That was news to me also, so I'm good to know that.

501
00:44:46,210 --> 00:44:47,030
Yeah, that's really good.

502
00:44:47,550 --> 00:44:51,970
Hey, so I know you said you're you're in the next steps of acquiring appropriate

503
00:44:51,970 --> 00:44:57,450
financing and working so don't yet have a target date for

504
00:44:57,450 --> 00:44:59,490
starting to go vertical because they're still placed.

505
00:45:00,000 --> 00:45:29,680
No, pieces coming together, steps to be taken. Is there a ballparker? Is there something that, you know, might not be possible, but we're kind of hoping for just wondering. Yeah, yeah, 100% no. So like I said, we're on the pre development side of those projects. We're, you know, in a spot to start construction later this summer. On the financing side with the that's the critical path. So that's the target.

506
00:45:29,680 --> 00:45:32,840
we're shooting for, that's the target that we're giving financing partners.

507
00:45:34,660 --> 00:45:42,860
You know, I think right now within the market, it still is difficult to build new construction,

508
00:45:42,980 --> 00:45:47,340
especially of this quality at a price that is less than what you can buy it for.

509
00:45:47,740 --> 00:45:54,400
Right? And so I think that's just kind of the reality, specifically on the multi-family side,

510
00:45:54,400 --> 00:45:58,200
of where kind of at a high level that market is.

511
00:45:58,760 --> 00:46:01,020
And so this is I think one of the most compelling

512
00:46:01,020 --> 00:46:02,840
opportunities around the country right now.

513
00:46:03,280 --> 00:46:05,840
And we've got multiple groups that are taking this

514
00:46:05,840 --> 00:46:06,940
to investment committee.

515
00:46:08,300 --> 00:46:10,900
And you know, we're, that's the alignment

516
00:46:10,900 --> 00:46:12,640
that we're on from our execution timeline.

517
00:46:13,420 --> 00:46:16,300
And it's up to, but the critical path

518
00:46:16,300 --> 00:46:18,560
is until that's in place, you know, we can't.

519
00:46:19,620 --> 00:46:22,540
We're not gonna go start building that

520
00:46:22,540 --> 00:46:23,800
until we have that solved, right?

521
00:46:23,800 --> 00:46:29,580
Yeah, we wouldn't get our general contractor is not going to contract and start construction until we've got that.

522
00:46:30,220 --> 00:46:45,320
First of all, so I'll be more blunt, which is we're in the worst multi-family market we've been in almost 30 years here in the state from a multi-feminist challenge.

523
00:46:46,160 --> 00:46:50,060
There's a lot of supply and so we're one of the things that we're trying to do is separate.

524
00:46:50,060 --> 00:46:52,580
Hey, downtown is not, when people look at the county,

525
00:46:53,640 --> 00:46:56,240
you know, they say, well, Salt Lake is over-supplied, right?

526
00:46:56,380 --> 00:46:59,480
Well, we're not Salt Lake, right?

527
00:46:59,560 --> 00:47:00,920
Even though we are Salt Lake County.

528
00:47:01,180 --> 00:47:04,500
And so there's a very much, an educational process

529
00:47:04,500 --> 00:47:05,700
that we have to do with money.

530
00:47:05,820 --> 00:47:08,900
A lot of the people who have the size of check

531
00:47:08,900 --> 00:47:11,020
that we need are not local, right?

532
00:47:11,100 --> 00:47:13,040
They are very much institutional,

533
00:47:13,220 --> 00:47:14,900
national, and international types of players.

534
00:47:15,080 --> 00:47:17,480
And so there's an education process has to go on

535
00:47:17,480 --> 00:47:22,840
And to educate them that what you see there is not really us, right?

536
00:47:22,940 --> 00:47:24,980
This is something different and this is something special.

537
00:47:25,620 --> 00:47:27,320
So those are the efforts that we're going through.

538
00:47:28,980 --> 00:47:34,660
And I mean, so it's a challenging market to be fair, the things that are happening internationally

539
00:47:34,660 --> 00:47:40,340
and, you know, with war and oil, those things, those are not helping in the efforts, right?

540
00:47:40,420 --> 00:47:44,140
There are people who are at this point pulling back a little bit saying, let's wait to see.

541
00:47:44,140 --> 00:47:49,560
So we're not meaning to not give you an answer because that's our target, but those things are

542
00:47:49,560 --> 00:47:55,400
absolutely critical before we can move forward. So our target would be, you know, end of, you know,

543
00:47:55,680 --> 00:48:03,040
Q3, Q4 somewhere there to start, but those things are very much dependent on that being the case.

544
00:48:03,540 --> 00:48:08,400
I totally understand that. And I'm not trying to pin you down to a date. I just, I just know that

545
00:48:08,400 --> 00:48:13,340
there are also stakeholders that are watching very, very closely and they have very strong opinions

546
00:48:13,340 --> 00:48:29,040
about whether or not things start kind of the ground and so I just was wondering if you could give us any information as we have those conversations and we get asked about it and that's helpful also I just want you to know I thought the presentation was great I am not concerned about the fact that the hotel hasn't signed on yet the hotel

547
00:48:29,040 --> 00:48:42,320
because right now with nothing out of the ground same with office right it is going to come they're probably looking at it saying well we're going to rate that a B property at this point well soon as things start coming together they'll go wait all of a sudden this is an A grade property we want to

548
00:48:42,320 --> 00:48:43,700
And you know, that's the process.

549
00:48:43,840 --> 00:48:46,760
I understand that my final thoughts are,

550
00:48:47,340 --> 00:48:48,620
so that just doesn't give me stress.

551
00:48:49,060 --> 00:48:50,420
Like I, that's how it's gonna come.

552
00:48:50,900 --> 00:48:52,920
And my final thoughts are just that I know

553
00:48:52,920 --> 00:48:54,920
Mayor Walker and I are both attending ICSC.

554
00:48:55,460 --> 00:48:56,460
Hopefully we'll see you there

555
00:48:56,460 --> 00:48:57,780
and if there's anything we can do, let us know.

556
00:48:58,180 --> 00:48:58,920
Thank you so much.

557
00:48:59,100 --> 00:48:59,620
Welcome to that.

558
00:49:00,780 --> 00:49:02,020
Thank you, Mayor.

559
00:49:02,800 --> 00:49:04,660
And other members of the board,

560
00:49:04,920 --> 00:49:06,640
I think comments or questions.

561
00:49:08,180 --> 00:49:18,000
Let me say in conclusion, appreciate very much this update, and to our director, I think

562
00:49:18,000 --> 00:49:25,920
the quarterly meetings that we held, and as we go forward doing a more, I guess, granular

563
00:49:26,440 --> 00:49:30,380
type discussion when we meet with you, I think is really helpful.

564
00:49:30,380 --> 00:49:37,520
So Mike and Robert, whoever has helped initiate that, I think that's a really good move.

565
00:49:38,180 --> 00:49:42,740
I enjoyed coming up for that meeting and I'll do everything I can to make myself available in

566
00:49:42,740 --> 00:49:47,240
the future because I think it was really helpful. This is again, I started out by saying,

567
00:49:47,440 --> 00:49:55,280
this is pivotal time, but it's also a really exciting time. And I think a lot of people,

568
00:49:56,240 --> 00:50:03,420
as Mayor Ramsey said at the stakeholders and others are waiting to see this. I think the public

569
00:50:03,420 --> 00:50:10,280
is used to seeing or hearing about a building coming out of the ground, but we're essentially creating

570
00:50:10,660 --> 00:50:19,080
a centralized urban center from scratch. And those sort of things take planning and Robert,

571
00:50:19,080 --> 00:50:25,200
you spoke really well about how much of this is related to timing. It's not about starting. Everything

572
00:50:25,200 --> 00:50:33,480
together necessarily. It's about coordinating really how we end up and making sure that, for example,

573
00:50:34,420 --> 00:50:41,780
a hotel has someone there taking rooms, you know, and an interest that makes sense. So thank you

574
00:50:41,780 --> 00:50:47,080
very much for being here today. Thanks for our coordination, and we look forward to hearing from you again.

575
00:50:47,580 --> 00:50:53,480
Thank you so much. Appreciate it. Welcome. Thanks. All right. The next item on our agenda.

576
00:50:55,480 --> 00:50:59,440
As I mentioned earlier in my comments,

577
00:51:02,280 --> 00:51:08,780
we're pleased to receive a legislative update from Representative Tusher.

578
00:51:09,120 --> 00:51:13,620
We're fortunate to have him as a coach here and as a member of this body.

579
00:51:14,460 --> 00:51:20,220
And actively involved in law making as a member of the House of Representatives.

580
00:51:20,220 --> 00:51:30,380
So, before I do that, though, is, in-chant Senator Stevenson is, as he joined us, he's not.

581
00:51:31,620 --> 00:51:41,480
Well, before I turn time to Representative Tusher, I think it's worth mentioning that Senator Stevenson,

582
00:51:41,520 --> 00:51:47,500
who is a member of this board, just served his last legislative session.

583
00:51:47,500 --> 00:51:50,780
He's retiring from the legislature at the end of this year.

584
00:51:51,680 --> 00:51:53,240
He served 16 years.

585
00:51:53,880 --> 00:51:57,720
He's been invaluable member of this body.

586
00:51:58,480 --> 00:52:02,060
And he's been invaluable in his service to the state.

587
00:52:02,300 --> 00:52:06,580
And as someone who spent 11 years of my life serving the legislature,

588
00:52:06,860 --> 00:52:09,260
I know something about the sacrifice.

589
00:52:09,800 --> 00:52:13,680
And I know he's not going anywhere for a while,

590
00:52:13,680 --> 00:52:15,500
but I thought that was worth mentioning.

591
00:52:15,500 --> 00:52:22,800
So with that, representative Tusher will get your microphone on and turn some time to you.

592
00:52:23,680 --> 00:52:32,500
Great. Well, thank you, Chair Snow, and couldn't echo enough your comments on Senator Stevenson and

593
00:52:32,500 --> 00:52:37,900
the great help that he's been not only for the point, but really coordinating all of the authorities

594
00:52:37,900 --> 00:52:44,820
across the state. And the legislature will be greatly missed his expertise and background and

595
00:52:44,820 --> 00:52:49,620
experience in that but we're lucky to have them at least through the end of the year and we'll see what

596
00:52:49,620 --> 00:52:55,360
happens after that. We did just finish up the legislative session as of Friday at midnight.

597
00:52:56,820 --> 00:53:03,660
Some of you may have heard of a bill that was five seconds too long on the vote. That was

598
00:53:03,660 --> 00:53:12,020
one of my bills unfortunately but we go right to the very end and during the session we passed 539

599
00:53:12,020 --> 00:53:19,600
Bill's. The governor called it of his 14 years in being involved with the legislature

600
00:53:19,600 --> 00:53:24,940
his very favorite session. So I don't know exactly what to make it out but I think it was

601
00:53:24,940 --> 00:53:29,980
a successful session and we got a lot done and worked really closely with the executive

602
00:53:29,980 --> 00:53:39,980
branch and helped to secure some great things for the state of Utah and move forward in a way

603
00:53:39,980 --> 00:53:45,100
that will continue to keep you time number one in economic outlook and opportunity.

604
00:53:46,140 --> 00:53:52,520
Is Jordan? I was just going to say there was one variable change this session. I'm just saying,

605
00:53:53,080 --> 00:53:57,920
in case you were wondering why it was such a good session. It was one person left. So I'm just saying

606
00:53:57,920 --> 00:54:01,720
maybe that's part of it. I don't believe that's the case.

607
00:54:04,180 --> 00:54:07,580
But no, it was great working together with

608
00:54:07,580 --> 00:54:13,300
everyone. In terms of the effect on Palms, there were a few bills that I wanted to highlight,

609
00:54:13,860 --> 00:54:19,740
but I think had an impact, and I'm happy to answer any questions on these bills. One of them,

610
00:54:19,840 --> 00:54:25,220
I was the House sponsor of the other ones. I wasn't as involved, so there may be people on this

611
00:54:25,220 --> 00:54:30,760
councilor or here that have more background to understand the bills than I do, but happy to

612
00:54:30,760 --> 00:54:35,220
tee them up and then answer any questions or defer to others who can add a little more color to them.

613
00:54:35,220 --> 00:54:38,480
But the first one was Senate Bill 278.

614
00:54:38,940 --> 00:54:41,340
This is the Development Authority modifications.

615
00:54:41,960 --> 00:54:44,400
And it essentially is the annual cleanup bill

616
00:54:44,400 --> 00:54:48,380
that we have for POMSLA, anything that we were working on

617
00:54:49,170 --> 00:54:51,040
over the interim that we felt like was important

618
00:54:51,040 --> 00:54:53,660
to change in the law was contained in this bill.

619
00:54:53,820 --> 00:54:55,660
And there are really five main changes.

620
00:54:56,380 --> 00:55:00,240
The first change allowed POMSLA to move forward

621
00:55:00,240 --> 00:55:03,660
with allocating 50 acres of land for 4-cell housing

622
00:55:04,400 --> 00:55:09,240
that as we've talked about in this board will help support the state's goal to increase

623
00:55:09,240 --> 00:55:16,280
the 4-cell housing stock. It's part of that and I know Mike and Mayor Walker were closely

624
00:55:16,280 --> 00:55:21,320
on this but there was some language that requires the point to coordinate with Draper City

625
00:55:21,320 --> 00:55:26,380
to ensure that the development of any transferred parcels is done so in accordance with the point

626
00:55:26,380 --> 00:55:32,900
objectives and a development agreement that would be negotiated between the city and

627
00:55:32,900 --> 00:55:39,400
Pomsla. So I'm sure that will be in the works over the next year as we look to have that

628
00:55:40,760 --> 00:55:47,920
that those parcels go out to market for developers. The second change defines that the

629
00:55:47,920 --> 00:55:55,260
privilege tax allocated in phase one is restricted to just the first phase so that 105 acres that make

630
00:55:55,260 --> 00:56:01,540
up the first phase. Any capture outside of phase one will be negotiated. The third change

631
00:56:01,540 --> 00:56:08,980
reverse the privilege tax captured on transferred land. So it dictated that the point captures

632
00:56:08,980 --> 00:56:14,480
25% of the privileged tax on transferred land to fund all of our operational maintenance costs.

633
00:56:15,200 --> 00:56:20,340
And then 75% would go to the taxing entities. So this really flips what it was before.

634
00:56:20,340 --> 00:56:32,340
But yeah, it's a good flip and should, you know, from Mayor Wilson and Mayor Walker, I think they're pretty happy with that change.

635
00:56:33,240 --> 00:56:44,380
The fourth change, it dealt with giving back some of the tax increment that we had for Palms.

636
00:56:44,380 --> 00:56:53,480
So 25% of that tax goes back to the state and in exchange creates a process for

637
00:56:53,480 --> 00:56:59,220
for Palmsla to request forgiveness of the infrastructure loan that we took out at the

638
00:56:59,220 --> 00:57:05,200
very beginning of the project. And so that's sort of the exchange that we had with giving back some

639
00:57:05,200 --> 00:57:13,120
of that sales tax increment. And then lastly, there were some changes dealing with public infrastructure

640
00:57:13,120 --> 00:57:19,540
districts or PIDs. So essentially the change has that future public infrastructure districts

641
00:57:19,540 --> 00:57:24,240
that are created by land authorities have to require the majority of the board members

642
00:57:24,240 --> 00:57:31,820
of the PID be appointed by the authority board. We grandfathered in all current PIDs that were

643
00:57:31,820 --> 00:57:38,680
created by authorities. However, required that all of those PIDs have at least 40% of the PID

644
00:57:38,680 --> 00:57:43,920
board appointed by the authority board. Now we did add a provision in there that allows

645
00:57:43,920 --> 00:57:51,020
for an authority board to appoint less than a majority, at least 40%, but could be less

646
00:57:51,020 --> 00:57:57,380
than a majority, if the board finds a compelling reason to do so, and two-thirds of the board votes

647
00:57:57,380 --> 00:58:03,380
in favor of that change. And then also the last change within the PID information there is that

648
00:58:03,380 --> 00:58:08,440
the PID can only issue additional bonds or create new debt in accordance to whatever

649
00:58:08,440 --> 00:58:13,960
the governing documents that the authority had with the PID or if the majority of the

650
00:58:13,960 --> 00:58:19,720
PID board is appointed by the majority of, or excuse me, appointed by the authority board.

651
00:58:19,960 --> 00:58:23,380
So if there are already in compliance that a majority of them sit on the board then they

652
00:58:23,380 --> 00:58:25,240
have the ability to go out and issue new debt.

653
00:58:25,740 --> 00:58:30,680
Otherwise they'd have to close the PID, create a new PID and that PID then would be required

654
00:58:30,680 --> 00:58:34,980
to be a majority appointed by the authority board.

655
00:58:35,500 --> 00:58:40,940
So that's the first bill that I think was important and really on point what we're doing

656
00:58:40,940 --> 00:58:42,540
here with Palmsa.

657
00:58:43,280 --> 00:58:50,260
The second bill was our annual omnibus alcohol bill, HB 597.

658
00:58:51,240 --> 00:58:57,560
As many of you know, this is a closely negotiated bill every session on changes that are made

659
00:58:57,560 --> 00:59:03,760
and there were a couple key provisions, one that was very specific to POMSLA and a couple

660
00:59:03,760 --> 00:59:09,560
of the, I'll just mention, it's kind of an FY that will affect some of the development

661
00:59:09,560 --> 00:59:15,780
and restaurants or hotels that we have on the side that are more generally applicable to alcohol

662
00:59:15,780 --> 00:59:23,880
laws within the state. So that first change is that it designated POMSLA as a local authority

663
00:59:23,880 --> 00:59:26,180
under the alcohol beverage control act.

664
00:59:26,820 --> 00:59:32,540
So this would mean that the authority or public can provide local consent for alcohol licenses

665
00:59:32,540 --> 00:59:38,400
within the project area, similar to what the city could do.

666
00:59:38,580 --> 00:59:43,780
So rather than us having to be able to fight with Draper on, you know, say they have an alcohol

667
00:59:43,780 --> 00:59:48,740
license they want to put in part of the city, but we have some in the point, we just control

668
00:59:48,740 --> 00:59:51,340
those within the point rather than they have to work through the city on that.

669
00:59:52,100 --> 00:59:56,140
The other change is just kind of general changes on alcohol.

670
00:59:57,000 --> 00:59:59,960
Last year you remember there was some strict requirements.

671
01:00:00,000 --> 01:00:24,660
So, we had a lot of requirements added around ID requirements in in bars and in ordering alcohol in particular. You had to be ID everyone regardless of your age or how old you look had to be IDed and you had to be IDed for every single drink that you purchased. We have relaxed that a little bit. We allow for foreign driver licenses now to to count as proof of age, which wasn't counted before.

672
01:00:24,660 --> 01:00:31,720
and then restaurants only need to check ID if a patron appears 35 or younger and they don't

673
01:00:31,720 --> 01:00:42,460
have to ID you. Yeah, you look a little younger than 35. That was similar to the rule that was

674
01:00:42,460 --> 01:00:48,420
in place before. They no longer have to ID with every single drink but a bar still has to ID everyone

675
01:00:48,420 --> 01:00:54,320
that comes into a bar. We reduce some of the unnecessary regulation, the

676
01:00:54,320 --> 01:00:57,920
statutory requirement that businesses use, the ID scanning devices, so that's no

677
01:00:57,920 --> 01:01:02,040
longer required for every single business. And then there were some changes

678
01:01:02,040 --> 01:01:06,420
around some of the outdated operational rules like requiring liquor storage

679
01:01:06,420 --> 01:01:11,260
areas to always be locked. So some changes there. In terms of supporting

680
01:01:11,260 --> 01:01:16,200
tourism and hospitality, the minimum number of rooms required to qualify as a

681
01:01:16,200 --> 01:01:23,000
hotel for alcohol purposes was reduced from 40 to 30 rooms, so that will help

682
01:01:23,000 --> 01:01:28,740
smaller hotels qualify for that. And then lastly, we improved some flexibility for

683
01:01:28,740 --> 01:01:35,780
restaurants and mixed-use venues. So before the ratio that you had to have was 70

684
01:01:35,780 --> 01:01:40,480
percent food to 30 percent alcohol in order to be a restaurant, we've changed that

685
01:01:40,480 --> 01:01:46,080
to 60-40 now. We also allow for some limited movement of drinks between a

686
01:01:46,080 --> 01:01:48,620
connected bar in a restaurant under certain conditions.

687
01:01:49,240 --> 01:01:53,220
So again, not major shifts in the landscape

688
01:01:53,220 --> 01:01:55,040
on the alcohol side, but small tweaks.

689
01:01:55,740 --> 01:01:58,560
Mayor Walker had a comment with your question.

690
01:02:00,940 --> 01:02:02,620
So the way I understood the bill

691
01:02:02,620 --> 01:02:05,820
with respect to regulating licenses instead.

692
01:02:05,960 --> 01:02:08,300
So it doesn't count against my license allocation.

693
01:02:08,680 --> 01:02:10,980
So the way I read it, I think that's what you said,

694
01:02:11,120 --> 01:02:13,700
is the point has its own allocation system

695
01:02:13,700 --> 01:02:17,940
and outside and separate from our city license numbers.

696
01:02:18,160 --> 01:02:19,180
Yep, that's my understanding.

697
01:02:19,760 --> 01:02:20,260
Yep, exactly.

698
01:02:20,700 --> 01:02:22,640
Again, so that we can coordinate better

699
01:02:22,640 --> 01:02:24,320
and not have to prioritize.

700
01:02:24,740 --> 01:02:28,380
The legal limit for impairment did not drop the points

701
01:02:28,380 --> 01:02:30,640
or two, I know was talked about earlier on.

702
01:02:30,820 --> 01:02:31,820
It didn't, that didn't get anyone.

703
01:02:31,880 --> 01:02:32,700
I don't believe so.

704
01:02:33,260 --> 01:02:33,900
I don't believe so.

705
01:02:33,980 --> 01:02:36,040
I don't remember any, any talk of that.

706
01:02:36,960 --> 01:02:37,880
I don't remember.

707
01:02:38,040 --> 01:02:38,240
Jordan?

708
01:02:38,520 --> 01:02:38,900
Oh, sorry.

709
01:02:39,160 --> 01:02:39,760
There's a limit.

710
01:02:39,920 --> 01:02:42,200
The number of licenses that problems with PAN

711
01:02:42,960 --> 01:02:48,460
allow in the, I don't know if I caught that in premiums, is it on a firm new

712
01:02:48,460 --> 01:02:53,460
spaces, is it a certain number of them for the whole project, or how did it end up

713
01:02:53,460 --> 01:02:58,640
there? That's a good question. I don't, I don't think it specified. And so I

714
01:02:58,640 --> 01:03:03,880
think it goes back to ABS to figure that out. Because we have, you know, ours is

715
01:03:03,880 --> 01:03:08,140
based on population, the number of bar licenses we can have is strict on the

716
01:03:08,140 --> 01:03:13,900
population, but I'm assuming the way I read that was, Jefferson was, palms are controlled

717
01:03:13,900 --> 01:03:18,220
the total number of licenses. I don't think there's a limit, but I don't know. I mean,

718
01:03:18,240 --> 01:03:24,040
that's a great question, but the way I read it was, it was palms had its own number of licenses

719
01:03:24,040 --> 01:03:29,240
as it wanted to do it. Okay, and then they can just allocate within the project how they want

720
01:03:29,240 --> 01:03:36,040
to do that. Okay. I'm sure there's a limit. I just, I don't know how they determine it.

721
01:03:39,420 --> 01:03:39,780
I'm

722
01:03:39,780 --> 01:03:47,090
here is I'm about I'm out of our license. And that was the thing is

723
01:03:47,090 --> 01:03:49,590
concerned. Is the great burden was limited?

724
01:03:53,020 --> 01:03:56,420
Do you want to say that? Sorry, I

725
01:03:56,420 --> 01:04:00,120
think that that was really the intent is that draper so limited on what they

726
01:04:00,120 --> 01:04:03,620
currently have available that the point wouldn't have access to liquor

727
01:04:03,620 --> 01:04:08,360
license. So that's that's what the legislation was about. Yep.

728
01:04:10,760 --> 01:04:11,540
All right and then

729
01:04:11,540 --> 01:04:17,620
And the last bill I was going to mention is HB475, Executive Director Mosque,

730
01:04:17,780 --> 01:04:24,060
talked a lot more about this, but it restructures how Utah coordinates our statewide economic

731
01:04:24,060 --> 01:04:28,740
development efforts and creates a more formal planning structure for major economic development

732
01:04:28,740 --> 01:04:31,260
initiatives like what we're doing here at the point.

733
01:04:32,000 --> 01:04:38,740
One of the major changes in Robert kind of alluded to that earlier is it changed Goio, the governor's

734
01:04:38,740 --> 01:04:44,280
Office of Economic Opportunity to go at, again, the Governor's Office of Economic Development,

735
01:04:45,300 --> 01:04:48,940
which is a little bit of a whiplash because we just changed a few years ago.

736
01:04:49,340 --> 01:04:55,420
But I think, and I'm sure Jefferson can attest to this, that as you go out and talk with

737
01:04:55,420 --> 01:05:01,780
other companies and such, the economic development side was a stronger need than economic opportunity.

738
01:05:02,140 --> 01:05:04,880
It probably resonates better with those types of companies.

739
01:05:04,880 --> 01:05:14,960
It created a new economic development council, and so this economic development council is

740
01:05:14,960 --> 01:05:20,660
made up of some state leaders and economic development stakeholders, so it includes the

741
01:05:20,660 --> 01:05:26,210
governor, his designee, the president of senate, or his designee, speaker of the house, or

742
01:05:26,210 --> 01:05:33,330
designate and then someone from the Inland Port, Palmsla, the Fair Park, District,

743
01:05:33,690 --> 01:05:41,170
Maita, Sitla, a representative from the Utah League of Cities and Towns and a representative

744
01:05:41,170 --> 01:05:42,890
from the Utah Association of Counties.

745
01:05:44,170 --> 01:05:48,930
And so that board then is looking at all of the economic development that's happening across

746
01:05:48,930 --> 01:05:51,290
state and trying to coordinate those efforts together.

747
01:05:51,290 --> 01:05:59,690
It expanded slightly the duties of the executive director of Goede, or of Goede, include.

748
01:06:01,450 --> 01:06:02,310
Exactly.

749
01:06:03,830 --> 01:06:09,810
Including giving him responsibility for coordinating state economic development programs,

750
01:06:10,170 --> 01:06:17,070
working with local governments and development authorities, and aligning the state development priorities, which I think is is greatly needed.

751
01:06:17,710 --> 01:06:21,290
And I know there was some informal working groups that happened last year.

752
01:06:21,390 --> 01:06:26,330
This formalizes that, but I think as I've talked with Michael, he's seen a lot of value.

753
01:06:26,630 --> 01:06:32,670
And the authorities working together closer with, go ahead and everything they're doing.

754
01:06:33,450 --> 01:06:39,610
And then the last thing I'll mention on this bill is that, and I think it was in this bill,

755
01:06:39,790 --> 01:06:42,190
there was some coordination with HB507 as well.

756
01:06:42,190 --> 01:06:56,030
But it allowed for certain confidential economic development information to be better shared across government entities without making a subject to grandma or violating agreements.

757
01:06:56,030 --> 01:07:12,990
So in particular, POMSO was named out in that so certain economic development records could then be shared with GoEd or some of the other authorities or county's municipalities or this economic development council without violating confidentialities.

758
01:07:13,050 --> 01:07:22,510
Now there may be still a need for those groups to sign an NDA to have access to that information, but it doesn't make it suddenly a public record than anyone else could could access.

759
01:07:22,510 --> 01:07:32,650
So those are kind of the key things I felt like in the session would be good to highlight that happy to answer any questions or maybe if there's other things I don't know if Michael you were covering or that you want to bring up.

760
01:07:33,910 --> 01:07:36,050
Thanks for representing questions comments.

761
01:07:36,710 --> 01:07:37,750
I just wanted to add.

762
01:07:38,050 --> 01:07:48,090
Yeah, just add one and I apologize. I don't remember the number of the bill, but it did give palms of the authority to pull an $18 million loan for infrastructure.

763
01:07:48,090 --> 01:07:53,130
It would advance the 4-cell housing project.

764
01:07:54,970 --> 01:07:55,750
Thank you.

765
01:07:56,690 --> 01:07:58,650
Great, great addition.

766
01:07:59,290 --> 01:08:03,050
Great review, very helpful representative pusher.

767
01:08:04,210 --> 01:08:08,230
Questions or comments for representative pusher?

768
01:08:08,870 --> 01:08:11,530
Let me get to your light on there.

769
01:08:12,230 --> 01:08:14,450
Thank you. That's a lot of good work.

770
01:08:14,850 --> 01:08:15,530
I appreciate it.

771
01:08:15,530 --> 01:08:35,750
Um, my, my question goes to the PIDS, if the new policies that you were talking about are grandfathered into what currently exists, what does that mean for the PID boards that currently exists, like what changes have to be made there and when and so for, for the palms look kids, at least 40% has to be appointed by the palms of board.

772
01:08:35,870 --> 01:08:42,130
Yeah, that's what I heard you say, but the PID boards for the PIDs that have already been approved to those boards, those are in place or have they, I would have.

773
01:08:42,130 --> 01:08:55,390
So, so right now we'd have to replace one of, so right now we have one of the five seats, we'd we'd have to go to two of the five seats and that has to go into effect by July one of this year.

774
01:08:56,330 --> 01:09:03,610
And may I ask, that changes for POMSLA project.

775
01:09:03,910 --> 01:09:05,570
It doesn't affect Inland Porter.

776
01:09:05,850 --> 01:09:06,850
Is that true for Inland Porter?

777
01:09:06,870 --> 01:09:08,110
It affects all of the authorities.

778
01:09:08,350 --> 01:09:09,050
So all of the authorities.

779
01:09:09,830 --> 01:09:12,130
At least 40%.

780
01:09:12,130 --> 01:09:16,050
Again, my understanding is all of the other authorities.

781
01:09:16,670 --> 01:09:20,290
Headboards are majority controlled by the authority board.

782
01:09:20,470 --> 01:09:25,030
So we're actually the only one that this will affect in practice.

783
01:09:25,030 --> 01:09:32,150
but that requirement is the same for all the pitfalls.

784
01:09:32,750 --> 01:09:33,270
That makes sense.

785
01:09:33,770 --> 01:09:34,850
Okay. Thanks for that context.

786
01:09:36,110 --> 01:09:38,390
Any other questions? Members, the board?

787
01:09:40,170 --> 01:09:43,410
All right. Again, thank you very much, Representative.

788
01:09:44,590 --> 01:09:47,150
And I should say before we move on.

789
01:09:48,470 --> 01:09:51,770
Thank you for representing our work so well.

790
01:09:51,770 --> 01:09:58,910
So, legislature, with your colleagues there and with legislative leadership, it makes

791
01:09:58,910 --> 01:10:03,530
a big difference having you there, Representative, and I can't tell you how much we appreciate

792
01:10:03,530 --> 01:10:09,710
you and Senator Stevenson for representing us and our mission.

793
01:10:10,390 --> 01:10:11,010
Glad to do it.

794
01:10:11,890 --> 01:10:20,330
Next item on the agenda, number seven, is a report from our executive director, Mike Ombrae.

795
01:10:20,330 --> 01:10:28,250
As you have heard, we are making significant progress at this site as backbone infrastructure

796
01:10:28,250 --> 01:10:29,490
development moves forward.

797
01:10:30,230 --> 01:10:35,310
There is much happening in addition to the active construction.

798
01:10:36,250 --> 01:10:40,250
So with that, Mike, we'll turn the time to you for your report.

799
01:10:41,090 --> 01:10:41,830
Thank you, Coaches.

800
01:10:42,090 --> 01:10:42,190
No.

801
01:10:43,030 --> 01:10:45,230
So first, I just want to acknowledge all the moving parts.

802
01:10:45,230 --> 01:10:54,950
You know, Robert and Zach presented on the vertical construction, right, in all the projects that are going to be coming out of the ground, hopefully in the next year.

803
01:10:55,590 --> 01:11:03,130
I'd also like to mention convergence hall, the horizontal infrastructure and potential subcampus opportunities.

804
01:11:03,130 --> 01:11:06,170
There's just so many moving parts to coordinate everything together.

805
01:11:06,910 --> 01:11:14,290
So I'm going to focus this on infrastructure updates out of the 165 million dollars that was approved.

806
01:11:14,290 --> 01:11:20,490
We have awarded about 87% of those in contracts to be awarded.

807
01:11:21,410 --> 01:11:31,750
We've spent 80 million of those $165 million and we plan on spending the remaining portion of the 165 by the end of the year.

808
01:11:33,410 --> 01:11:42,250
Included in that is temporary construction utilities that are scheduled to be complete by the end of the month to allow TPP to advance their horizontal and vertical projects.

809
01:11:43,170 --> 01:11:56,250
It was mentioned earlier, we do have a Jordan-based and improvement district board meeting to attend on the 24th to get a couple of nuances, hopefully approved that we can advance the promenade project.

810
01:11:59,050 --> 01:12:06,250
Also, Palmsla has solicited and awarded an engineering firm for the 50-acre infrastructure project.

811
01:12:06,250 --> 01:12:20,770
So we're negotiating contract terms right now, the intent we're planning to have that engineered and go out to bid by the end of June beginning of July for a contractor to start that construction.

812
01:12:21,390 --> 01:12:27,410
And then this time next year, we're hoping to put out an RFP for builders in advance that project.

813
01:12:27,410 --> 01:12:31,210
And I just want to kind of reflect back on what Robert mentioned about timing.

814
01:12:32,050 --> 01:12:36,610
You know, trying to work backwards a little bit and open everything at the same time.

815
01:12:37,350 --> 01:12:39,810
We have the same coordination and intent, right?

816
01:12:40,050 --> 01:12:47,950
So we're trying to open these for sale product at that same time that a bunch of retail and shopping and restaurants would be open as well.

817
01:12:48,610 --> 01:12:54,630
Also, the river to range, that linear park that's planned, we're hoping to have that open

818
01:12:54,630 --> 01:12:59,070
around the same exact time so we're not, you know, wasting a lot of money, watering,

819
01:12:59,290 --> 01:13:02,710
and maintaining vegetation that nobody's utilizing.

820
01:13:03,590 --> 01:13:06,490
So there's a lot of coordination and a lot of thought that's happening.

821
01:13:08,210 --> 01:13:12,410
The next quarterly meeting with TPP is April 28th.

822
01:13:12,410 --> 01:13:17,310
I just wanted to let you both know, and if any board members would like to be included,

823
01:13:17,310 --> 01:13:23,370
please reach out and I'll certainly extend the invite. We do talk about economic development,

824
01:13:23,510 --> 01:13:28,230
we talk about schedule, coordination of utilities, we also talk about tentating and some other

825
01:13:29,790 --> 01:13:34,570
items that you probably need to sign a non-disclosure statement for.

826
01:13:37,210 --> 01:13:43,150
ongoing discussions with Salt Lake County on an interlocal and an increment capture.

827
01:13:43,930 --> 01:13:47,510
We have a meeting scheduled, I believe it's next week, if not the week after.

828
01:13:48,950 --> 01:13:55,090
I also wanted to talk about a non-lease hold takedown in Gen, I don't know if you can help me present that at this time.

829
01:13:56,370 --> 01:14:01,350
It was my mistake by not actually adding this to the agenda as an action item.

830
01:14:02,590 --> 01:14:06,350
This is the promenade area, if you look at the screen here.

831
01:14:09,850 --> 01:14:17,550
the outline of color and red, it would be a non-lethal takedown that would be ultimately

832
01:14:18,470 --> 01:14:23,690
deeded to draper and they would own and maintain those roads in that infrastructure.

833
01:14:25,010 --> 01:14:36,330
What's outlined in green, we would maintain ownership of through DFCM and POMSLA and, you

834
01:14:36,330 --> 01:14:39,770
with TPP, we would hire somebody to do the maintenance

835
01:14:40,230 --> 01:14:43,450
and management of that area, which is the promenade area.

836
01:14:44,730 --> 01:14:48,610
And then the blue, which I don't see any blue up there,

837
01:14:49,270 --> 01:14:52,850
but anyway, so this is the non-lease hold takedown area.

838
01:14:54,910 --> 01:14:56,450
Oh, the Pervillians, thanks, Robert.

839
01:14:56,930 --> 01:14:59,970
It's not coming through on me, but there's two laws.

840
01:15:00,000 --> 01:15:19,940
That's within the green that are the pervillians that are future lease hold takedown areas. So I'll be bringing this back to the board. We may have to hold a special board meeting just to approve this. If, but if there's any questions or, or if anybody, you know, just wants to review this on their own time and get back to me by all means.

841
01:15:22,540 --> 01:15:30,960
Thank you very much Mike. Sure, before I turn that to you. So those. Looking at this diagram that.

842
01:15:30,960 --> 01:15:36,360
That future leasehold in blue is actually those two parcels that's kind of a dark area.

843
01:15:36,640 --> 01:15:37,520
Am I right about that, Jen?

844
01:15:38,900 --> 01:15:39,100
Yeah.

845
01:15:39,540 --> 01:15:40,900
She's put her cursor on that.

846
01:15:41,080 --> 01:15:41,560
That's correct.

847
01:15:41,780 --> 01:15:45,380
Those are the provisions that will be retail.

848
01:15:46,580 --> 01:15:46,860
Okay.

849
01:15:48,060 --> 01:15:50,660
Question from Mayor Ramsey or comment.

850
01:15:51,240 --> 01:15:59,480
So what I think I'm seeing here is that the fee simple owned by TFCM would allow the

851
01:15:59,480 --> 01:16:05,360
opportunity for flexibility when it comes to holding events, closing public streets for the

852
01:16:05,360 --> 01:16:09,700
promenade to be able to have outdoor things, whatever. That is a process that you have to go through

853
01:16:09,700 --> 01:16:16,420
and harder to do when it's a public road. So this just allows that flexibility for the project to

854
01:16:16,420 --> 01:16:22,460
be able to do things like that because they own the road, right? That's correct. Also, there's going

855
01:16:22,460 --> 01:16:28,600
to be events like you just mentioned, but maybe Christmas decorations and other things that would

856
01:16:28,600 --> 01:16:36,280
kind of be subject to, we mentioned a fee that would apply that everybody would take care of,

857
01:16:36,280 --> 01:16:42,800
it would be centered in this area as well, or snow removal, landscaping is elevated, so that

858
01:16:42,800 --> 01:16:48,660
would be maintained and owned by the master association and so forth. So everything that you just

859
01:16:48,660 --> 01:16:53,200
mentioned. That makes perfect sense to me. So just making sure I'm understanding that, right?

860
01:16:53,200 --> 01:16:57,940
If it is what I think it is I understand that and I think it's wise. Yeah, thanks.

861
01:16:59,680 --> 01:17:06,680
Thank you mayor. So in terms of that board meeting that we need to you know meet for a few

862
01:17:06,680 --> 01:17:11,640
minutes just to approve this. How are you planning on coordinating that schedule? Does it make sense to

863
01:17:11,640 --> 01:17:18,500
take some time now to? We could do that. Yes. We have five minutes you know tomorrow afternoon or

864
01:17:18,500 --> 01:17:27,540
something to coordinate schedules. Yeah, that's a good suggestion if we, if you have your calendars.

865
01:17:31,920 --> 01:17:36,340
Yeah, let's let's do that. It's all right with you. For example, Tessures, let's

866
01:17:36,340 --> 01:17:43,920
huddle after this meeting and and work with Jen to help coordinate all of our schedules and come

867
01:17:43,920 --> 01:17:48,260
up with that. I'm going to guess going over all of our schedules to be so boring to anybody who's

868
01:17:48,260 --> 01:17:49,860
paying attention to this meeting, they'd be like,

869
01:17:49,960 --> 01:17:51,840
yeah, I don't want to know any of this, you know.

870
01:17:52,340 --> 01:17:53,500
And it might take a minute, you know,

871
01:17:53,780 --> 01:17:55,280
some of it might be interesting there.

872
01:17:55,420 --> 01:17:56,160
Maybe, yeah.

873
01:17:56,940 --> 01:17:57,920
OK, let's do that.

874
01:17:58,060 --> 01:17:59,900
And I might talk to Robert after this.

875
01:17:59,960 --> 01:18:02,940
If there's not really the necessity to do so,

876
01:18:03,060 --> 01:18:05,480
and we can just wait one more month and address it

877
01:18:05,480 --> 01:18:07,180
in our next board meeting, we could do that too.

878
01:18:07,540 --> 01:18:10,200
So I'll get that answer.

879
01:18:10,760 --> 01:18:13,060
One way or another, we'll figure that out.

880
01:18:13,400 --> 01:18:14,040
Robert, get that done.

881
01:18:14,740 --> 01:18:19,960
And just one last thing, I would just like to thank my team, Don, Nick, Jen, you know,

882
01:18:20,000 --> 01:18:21,540
I couldn't do this without you guys.

883
01:18:21,900 --> 01:18:27,960
And then also our agency partners, DFCM, John Vance, Taylor Maxfield, you know, they're

884
01:18:27,960 --> 01:18:31,200
doing a lot with convergence hall and all the horizontal infrastructure.

885
01:18:33,940 --> 01:18:39,420
Obviously, our partners, the development partners, TPP, you know, Robert, Zach, Jay, you know,

886
01:18:39,480 --> 01:18:40,940
we meet multiple times a day.

887
01:18:40,940 --> 01:18:50,880
And it's just it's a it's a it's a great partnership and in coordinated effort and also draper city scot koolie and I we meet a couple times a week or more.

888
01:18:51,480 --> 01:19:00,840
And then my legal team carry Owens and Lauren and Adam with person Bailey and Latamore I really appreciate your hard efforts.

889
01:19:00,840 --> 01:19:04,660
I've been throwing quite a bit Adam lately so I appreciate your efforts guys.

890
01:19:05,780 --> 01:19:13,580
Thank you Mike for the report and want you to know how much we appreciate you taking the lead on all of this.

891
01:19:14,280 --> 01:19:16,940
We're grateful to have you in the director position.

892
01:19:18,420 --> 01:19:26,920
So with that we come to the next item on the agenda which is to consider moving into executive session.

893
01:19:27,340 --> 01:19:31,940
I think we have some important issues to take up an executive session today.

894
01:19:31,940 --> 01:19:37,940
So with that, the chair would entertain a motion that we move into closed executive session.

895
01:19:39,000 --> 01:19:40,600
Mayor Walker, that's your motion?

896
01:19:40,900 --> 01:19:43,160
I move to be in or close session.

897
01:19:49,980 --> 01:19:50,760
Thank you.

898
01:19:51,220 --> 01:19:52,040
That's my motion.

899
01:19:52,180 --> 01:19:52,600
Thank you.

900
01:19:52,720 --> 01:20:03,280
The motion is that we are going to executive session pursuant to you to code 52 42051A and D to discuss a project proposal.

901
01:20:03,960 --> 01:20:04,800
Do I have a second?

902
01:20:06,180 --> 01:20:14,600
second. Thank you. Is that Mayor Wilton? I take it. Yes it was. Thank you, Mayor. I'll call

903
01:20:14,600 --> 01:20:19,840
for a motion. Excuse me. I'll vote on that motion. All in favor, please say aye. Aye. Aye.

904
01:20:20,740 --> 01:20:26,800
Any opposed, say nay. I'm going to rule that the motion carries unanimously and meets the threshold

905
01:20:26,800 --> 01:20:34,320
required. So with that, we will retire. The board will retire at room 450 and take up our executive

906
01:20:34,320 --> 01:20:39,200
session after which we'll move back into open public meeting. Thank you.

907
01:20:54,400 --> 01:20:55,460
I think the record here.

908
01:20:57,220 --> 01:21:05,880
We are now back in open public session. I can't quite get out of legislative mode. So

909
01:21:08,340 --> 01:21:16,040
we have finished and concluded our executive session. We're not taking any action as a result.

910
01:21:17,000 --> 01:21:23,200
so the chair would entertain a final motion. Motion to adjourn by Mayor Walker. Do I have a second?

911
01:21:23,940 --> 01:21:26,660
Second by Mayor Ramsey. All in favor of the motion. Say aye.

912
01:21:27,560 --> 01:21:27,700
Aye.

913
01:21:28,260 --> 01:21:28,460
Aye.

914
01:21:29,500 --> 01:21:31,480
We stand adjourned. Thank you very much.