Okay, it's 4:00.
we're going back into work session. Do a call to order? Executive session ended at 3:45.
we have discussed and received a presentation from michael beatty regarding entrada.
come on down.
maybe not. Good afternoon, michael beatty. 1800 valley view, suite 322 farmers ranch.
nice to be here again. Hopefully, this will be a positive update. I have some, to me, it's pretty exciting news.
start with two restaurants and I've put leases in front of both of them.
they're real operators. Third party, totally independent. One of them is hugo's invitados.
he has, I think, three locations now. Had lunch there, the menu with spectacular.
and the other one is 1845 by marty b's. Excellent. So I have met both on site several times.
I presented them with a real lease. We have a handshake agreement on terms. It's very straightforward and everybody is on the same playing field.
like the leases are equal between them. So I know both those restaurants.
that's outstanding. They love the patio. We got to get that connection made to 114.
we're working on that. But yeah, I'm ecstatic. I couldn't have asked for two other two better regional draw opportunities.
people will drive for those menus and they'll come back for the experience. And so you have your catering hall, right?
the reception hall and the and the chapel are under contract to sell.
as to keith walters, we haven't closed yet, the lenders going back and forth. We're at the title company waiting to close.
and he's got his ceos in hand. So they're already pre marketing that say.
and then how many other pads do you have left for restaurants in that section there?
well, I've got let me go to the slide, jumped ahead a little bit.
I was just excited about that. So that's great news. Mike, I walked everything over there.
are you a little concerned that there's like nothing secured and there's kids toys and Stuff inside the property?
do you think we should secure it up? Every single building. The kids toys inside there?
yeah. Like a pogo stick and a bicycle.
yeah. Start locking everything. Yeah. I mean, I just don't want vandalism when we're this close to the finish line, Hopefully.
yes, sir. Thank you. Of course. And sorry I missed it. When were these restaurants coming?
there they are, they'll have to do their plans and get through the permitting process.
I would probably think six months from now we could be meeting over there instead of Here.
awesome. Because it's pretty straightforward. The shelves themselves are empty.
like I let the dirt out in the middle slab. So it's a really quick turn as far as construction goes.
and layout wise, I mean both these guys know what they're doing. They're just repeating the same concepts. So they should be here real quick.
and one was who goes in? The other was 8040. 1845, 1845 by marty b's.
and one was hugo's, right? Yes, hugo's invitados.
[inaudible] mike, maybe it's a dumb question.
I know marty bryant. He's a nice guy, wonderful guy, great operator. But is his one up in bartonville is it also called 1845 or is it different concept?
this is the one in flower mound on lakeside. Ok, ok, thank you very much for the clarification.
yeah, I know that one. I know marty b as well. And the coffee shop spectacular.
yeah, but it's just first class, so see you guys again. Congratulations. Congratulations.
hopefully. Get them here. Get them up and see who wants to come behind him.
one of the conversations and again, we preface this 60 days ago, I didn't know anything About restaurants.
I didn't want to know anything about restaurants. My job was to deliver cold, dark shelves and hand them over to finish out.
and I've had to learn a whole lot about restaurants real quick. One concern that we have and that I've talked to marty and mark holm, the owner, at Hugo's, is if we open up all 30,000 square feet at once, we're going to cannibalize sales.
and it's going to be really hard for them to staff up as well. So what I'm probably going to do to get them up and running in that one building, they're Both in the same building, the one closest to the reception hall and then the second
building I'll probably white box and do executive office or something like that as a Whole and give them a couple of years.
and then my conversion out of that space is really cheap. Mike, don't you think we waited over ten years to get sales tax revenue?
well, I've got a better part of the presentation for that. I just don't want to shoot myself in the foot.
I agree. But we've been walking through the desert looking for some water of sales tax Revenue.
thank you. I've been looking for food and the food. I'm good on that. But if I have another qualified operator that's going to have some skin In the game with me, then yes, sir.
I'll be happy to move forward. I just don't want it to be somebody's kitchen concept that they dreamed up and then They're going to know.
we agree and we probably want to vote for it. But but think about like the three restaurants where bob's our bob's and the mexican Restaurant.
I feel like they help each other because if one of them is too busy, you walk over to the Pizza joint or or the other one, there's actually four restaurants there.
so getting given to by themselves, I don't know if that's an advantage.
you know, that's just my thought. And also, we're we're we're worried about sales tax revenue.
yes, sir. I mean, we are I'm working with the same brokers. We're still actively trying to lease them.
just that's something that's come up in the discussions like, hey, 28,000 square feet at Once.
that's a lot of restaurants. So. You work?
you didn't like me today. Oh, there we go. So this was just an outline.
the very thing I wanted to go through this evening. Retail corner on the second floor.
there's a sketch to do. Five condo units on the second floor. I'd like to talk about that staff that asked me to come and present it and see if you Would be interested in allowing that.
it would be an sup. The repository we had, our pre con, we were already moving dirt.
contract signed that should have a sky crane here before thanksgiving.
so that will be our first sky crane and then trotter. 114 connection, we're trying to get the tri county box still moved.
as soon as we get a release, we'll start building it, even if I have to run up to that Box and wait, I just want to get started.
wedding chapel and reception hall. They got their ceos closing this week with walters hospitality and then the hotel on Block b with walter's.
that's part of the closing with him as well. So we'll have that site just next to the parking garage facing the water.
he wants to do 135 room hotel there. I still don't know which flag.
and then mike hope with the office site on the harbor. And he's been working to schedule a meeting with the mayor to talk about what they want to Do there with kdc, like 200,000 square feet.
so those are things that we've already talked about and the new things for tonight.
there's an opportunity to look at phase two and try to in a different light.
we have great highway frontage now. We have a frontage road that was just put in and the remaining land along the highway Would be very, very visible because of the height changes, right where the big retaining
wall is. And we put together a potential layout.
I'm not you know, I'm not saying yes or no either way. But the idea would be this is an alternative.
it addresses your sales tax concerns because this is prime highway frontage. Now, I drew it at 310 feet deep off of the most inside easement, like where we could Actually build a park.
and I think it flows really well. Like you'll see the connection back to phase one.
if we go pursue real retail tenants, they're going to surface part.
nobody can afford to do a parking garage for retail as a standalone site, and there might Be some pushback on some of the architectural controls that we have in place in
entrada, but that would be a decision for you all to make. I'm supportive either way, you just tell me which way to run and I'll run.
and then I also have the property behind us, corelogic that's under contract. Now I have to close by year end.
and part of the consideration for looking at phase two in a different light will be to Move some of that residential over to this property.
and then we can keep the big parking lot that we have here to support the plaza. And that opens up the plaza for a lot of uses that we really couldn't do before, which Would include another hotel.
and the reason I say that becomes our go ahead is most limited service hotels, even if They're really, really nice, can't afford a parking garage, especially as a
standalone suburban site because that's what this would be. But I now have 350 something parking spaces right across the street.
we'll do a pedestrian hawk like protected walkway back and forth. And I have really strong interest in that site now from real hotel users.
so you've already put your the deposit down for the corelogic, right? Yes. And so basically we have the current setup is we have townhomes facing the highway Right now and we want to move that entitlement to the
corelogic land and utilize the highway for retail and restaurant.
and so by doing that's the way the site should have been planned from the beginning.
but we for ten years we didn't do that. I don't know. And so I think it's a really good idea.
I mean, I think it's a fantastic use of what this town should be.
I think we all agree that residential on 114 will drag down the per square foot of Everything else, and it also having restaurants will drive
the word I keep talking about sales tax revenue, so we kind of went twice on that change Up.
okay, great. But if we're we're talking about putting restaurants, just going to your Previous point about the fact you can't have too much restaurant square footage at any one
time, is this going to delay the rollout? Not on our side. I mean, if we if you like the concept that we present six months Engineering, a year development, those will be up and running before you have any
potential competition along 114 over here. So it's for me, it's just I've got two buildings ready to go.
and how quickly do we fill them up with the restaurant? I like I said, if we get real operator and real interest and have skin in the game, I'll Sign it up all day long.
I just don't want to. And you mentioned the funky door is interested [inaudible]. Yes. That's a really neat little restaurant.
and love it. And one other thing on marty bryant. He has opened, I believe, 58 restaurants successfully and zero losers.
he was with cotton patch for a long time. He was on an entrepreneur program that I was a part of.
a lot of respect for the guy. Yes, sir. So how big is the corelogic property?
it's 22 acres total and about seven acres is that parking lot and the rest is up the Hill.
there's a little bit of protected waterway through the site and basically they dumped the Rcp, left it open and carted at the other end and that became waters of the us.
so we're working around that. So the original [inaudible] is like 85, 85, and how many acres are left to develop out, Would you say?
well, phase two would be 13 to the 85, so that would take that out of the number.
and then everything else is developed like all the streets, water, sewer, drainage are in Place today for phase one of that land.
what we're doing differently is I'm selling off lots to individuals by the homebuilders So that we can get the residential pace built up and then the commercial.
we're starting to carve that up a lot quicker than we have been. Like the hotel side on the gas pad I met with, but nothing signed up herself.
signed up done. And we made it be done on the flat for that.
I just don't have the flag yet. But my deal.. Is it laquinta?. No, it's not, my partnership with mr.
walters, he has, like two years to get the hotel going and up and running.
like, he can't just sit there. We have a timeline because I'm putting the land. So what's the contractual relationship with you there?
he's a co developer, you sold the land too? No, I take the land and I subordinated to a partnership with mr.
walters. He's bringing the construction on, and this lets me count the jobs on my eb five Side because I have land at risk with him.
but he has two years to develop it or.. Or reverts back to me. So it's not a guaranteed development, I guess what I'm saying and like going back to like The restaurants, like your handshake agreements but nothing signed.
well I would signed loi on both with hugo's and when I met with marty on site, I was Like, look, I'm listening to lease I have with marc cone, same lease.
I didn't even change any names up here. You know, the terms are the same and he was very excited by.
can I ask you some I mean, I spent a lot of time walking the property and it looks Beautiful and it looks it looks amazing.
it's going to be great. Once this filled up, the thing that kind of confused me because I Have a lot of real estate I like.
I googled the address. It didn't say is for rent or for lease. There was no signage in the windows.
like, I don't know how someone would know. It's not on loopnet. I don't know how someone would know.
loopnet is the de facto commercial property site. I don't know how anyone would know if they were searching south lake, roanoke.
how would they even know that we have this available? That's one of the changes that we're working through.
I've got to price some of those pads and actually put them out to market. Previously we had had interest and we sat down with the plat and we figure out exactly Where they want it to be.
that's a really hard way to sell real estate because people don't.. Internets here, maybe we can use it.
so what type of time commitment would you get? Give us that. Hey, everything that's available for for sale or lease, I'll have it up by 30 days.
30 days. Thank you very much for that commitment. And I just I think this goes back to my broader point.
you know, we started with these 85 acres and try to I mean, you're saying only 13 acres Left at phase two to be developed.
I would argue more than 13 acres is unsigned to be developed.
but my bigger point is, but now you're looking to take on the corelogic property another 22 acres.
okay, I mean, that's kind of my observation, let's say, is we're not quite done with Entrada and yet
you're looking to shift residential to a brand new lot. I'm keeping, I'm asking to shift entitlements from..
no I understand. To another to create the opportunity to help build out the rest of Entrada faster with that frontage road now in place that's a viable commercial storefront
retail along 114 whether it's more restaurants strip center whatever comes you know but That I have I have to have the core logic in
order to be able to open up that other property. Otherwise we have unused residential units.
you know, I agree 100%. That's not the best place to go build 52 more spanish villas.
they'll look really nice up on this hillside behind us. It'll look like in continuation of phase one, when I say that we have developed to me Develop means water, sewer, streets, drainage, we haven't gone vertical yet on a lot of
what's over in phase one. We're addressing that by selling the lots off to other builders and other individuals so That they can come and build at their own pace.
we're working on the program to have our architect, ralph bush, like his architect and Record of the project, teach them how to make site plan process with town staff because
there's still that requirement. They can't just go turn this into plans and do whatever they want. On the commercial and the other land that we have left over the block b is our biggest Chunk and that was the meeting with fidelity.
and I've talked to them about corporate housing and supposed to meet with deloitte week After next.
and then we still haven't heard back from schwab. Trying to figure out those dates. So I am actively and aggressively pursuing all of my vertical construction opportunities That we have.
and the difference is I will partner with the right person, I will sell the right pad to The right person.
I'm not trying and we weren't really doing that before. It was just the pace of construction that we had.
you know, I needed to meet a certain job, count on my eb five loan or they're now the Lenders saying, all right, figure out what you want to keep and build and then we'll sell
the rest. And that's the 30 day.. But mike you understand why we're asking. It's like the kid asking for dessert when his plate is happy or like, why you finish your Plate first before we give you this other prime piece of real estate to do it.
so, I mean, that's why we're asking. Yes, sir. That makes sense, right?
it does. I understand. We're trying to be fair. No, we, I understand the need for sales tax.
we've got an opportunity with the highway frontage that we didn't have before. That's relatively new in the process.
and we now have a new council that may be more willing to look at bending the rules so That we can actually go get the retail customers that will come.
they will not structure part that.. We're not looking to bend rules, we're looking to do what makes economic sense for Westlake.
so so speaking of retail, it seems like retail just went out the window and the concert Venue went away.
can you speak to that? Because we talked about housing and we talked about restaurants, But what do you see on retail?
I, I think we'll have an opportunity for retail when we get to the phase two layout with The frontage on 114.
internally, I'm going to have like on the condo first floor, there will be some retail Space.
I don't know if that how strong it's going to be, how successful it's going to be. I'm looking to bring in a retail tenant from part of that other restaurant building.
we'd be like a small grocery store, that kind of concept, like the one it used to be in Highland park village.
something to generate more sales tax here. I don't know if we'll ever be southlake town center that will have hundreds of thousands Of square feet of retail.
and the idea would be that we pick and choose the right services that we provide to the Neighborhood within the development, like the internal stuff, the 114 pad, that's a
regional site, we should be able to get a good draw for those.
but that didn't. You can't go buy a 300 foot deep pad site anywhere in westlake right Now.
and the second does go on the market with your blessing. I'm sure they'll be off the market by the end of that week.
I mean, it's just an incredible traffic count, incredible demographics and the Visibility.
now the core logic land, I believe ron, we've been trying for years to develop that land, right?
and I think residential would look well on the corelogic land.
and I think it would be your point. Increase the square footage of everyone else because those houses by the highway which They would burn in.
[inaudible] to 114 and it will always sell at least for less.
and we don't want to do that. We want to preserve property value. So I think it's a good concept and we have to dot the I's and cross the t's for it.
but I think it's viable. And plus it opens up and it'll give us potentially the funky door restaurant looks really Good.
is that three acres or four acres? I looked at their site. They've asked for three acres here, but I looked at the site in lubbock, it's not that Big.
it's like 1.2 acres. So he's probably looking to split it if I was guessing.
but with once, if you give me the green light tonight, I'll send him the land plan Tomorrow.
I have not distributed this land plan beyond engineers and the people in this room.
and you're saying that green light for to pursue the funky door tenant, that's how the Conversation started.
but do you need our permission to move forward with that? I don't want to go represent that we can do frontage paths along 114 in westlake, but I Don't think that's up for vote tonight.
it's not up for a vote tonight. Look, no, I'm not asking for. I'm asking for positive direction.
if it's something that you're open to, then let me go see who I can land on those sites. Jared, what do you think about this?
as far as the direction question or as far as the funky door concept and having..
I definitely think it's a good opportunity for council to consider the options, renewed Options with the service that the service road provides.
we didn't have these options prior to that service road. Now, this opens up a whole new avenue for for council to consider.
but be careful how we construe direction because obviously there's process procedures, Planning and zoning committee and yeah, so this isn't anything
bypassing or short circuiting the legislative processes that do have to come forward.
this is just general, a general head nod of a direction for staff and the developer to Start looking into.
just start bringing back for all of that legislative process for council and p&z.
mike, you want to hear from us that you're not wasting your time that we would consider.
are you looking for. Yes, sir. And again, to jared's point, we're not bypassing anything.
that's not any of our intentions. No, sir, not at all. This is something that the council would want to see pursued.
I will pursue it. And then the next steps would be here's potential tenants. And then we go through a development plan amendment, the zoning amendments, the whole Process.
I just don't want to put those pads out on the market without at least, like I said, a Head nod saying ok this is something we are interested in.
because if I do that and then I come back and I get shot down, know this would be Contingent upon closing on the corelogic.
yes, I have to close by year end. By year end. So, I mean, what was the original timing of this phase two?
I'm not saying way back when, like, is this going to just keep delaying the process Because we're looking at another potential use and another potential contingent
acquisition and oh, we'll close. I mean, I'm committed.
this is a valuable piece of land. And we actually did try to get it under contract about five years ago.
we just couldn't agree on pricing.
selfishly, what that parking lot does is it lets me build out the plaza without having to Build another parking garage.
and that one that we built already is over budget. Very expensive and the prettiest parking garage in all of texas.
but we're retail tenants don't care how pretty the garage is they just want to know Proximity to their front door.
so nothing, I am not stopped my civil engineer on the 52 lots for phase two ok so that if You say no then the plans are still there for
match the original development plan from 2013. We just got this under contract.
so this we're working through site planning, round out the water to the us, that kind of Thing.
now the two won't slow either one of them down.
they're independent processes. The only thing I'm asking for is if we are going to consider making this switch like move Some of the 322 over to this property that the
retail path and I'll we'll get to that in just a second and slide that yes this is what Y'all want.
you know this is what you want to see happen next in a [inaudible] slightly, slightly Unrelated question before the
assignment is consented to by the town. What? Authority do you currently have to make these decisions and move things forward?
as far as representing mrw? Yeah, I'm the president, director of mrw.
but the assignment is not technically been consented to as of yet.
so [inaudible] the assignment occurred as far as.. My assignment has occurred for the entities?
yes, sir. Okay. The developer's agreement, I think we were still waiting on the town Attorney to finish up the documents as far as assigning the actual economic development
agreement and the regular development agreement. Both of those.
but those don't change. You're just assigning the documents, right? It's on the agenda for tonight, I assume.
will you be here later when this is on for questions? Okay. I do have an observation.
I am also a little hesitant on the fact that we have not yet finished phase one and we Are looking at phase two.
and I'm just a little worried that I hope the concentration doesn't go completely onto Phase two and phase one stays as is
or doesn't get to what it should be.
I'm sure your you will try to make sure that phase one has taken over precedence over Phase two, but some more
reassurance on that. Okay. Can I get like just to because I don't want to give a head nod on something unless And until that's that's what I'm going to.
it's I have a 12 to 14 month lot delivery process and in either development time.
and that's if we greenlight phase two the way it is today. So by the time those lots of delivered and then you start construction, I'm two years out Minimum from having a ceo on a house or retail building or whatever gets built over there.
my advantage in phase one, once we go through and cut out what we're going to keep, what We're going to sell is those are building permit ready as quick as they can go through the
town processes. You have the architecture, engineering, everything approved. They can be under construction, hopefully 60 to 90 days if they know what they're doing On the architecture side are the clients would.
but on the development timeline I have to be 3 to 5 years out and in my mind all that's Developed, I'm selling the lots.
we're going to have 15 other people building houses in entrada now all under the same Guidelines.
so they'll look nice. But we're not measuring that pace of construction anymore.
before I got the green light from the eb five lender that I had on track and met my job Creation hurdle, that's kind of where we were holding on to more stuff because I needed to
make sure that I hit that number because without me, if I fail to hit that number, then I've wasted everybody's time for seven years.
I have that green light, we've done the updated studies and I know what we're going to Build and keep, and then I can sell the rest of the land.
so the pace of phase one entrada is not just to no longer be just on mrw.
we'll have multiple users. We're talking to a bank site. They want to buy their own office. They'll build their own building the hotel.
he'll build his own building. The if we're able to do the corporate housing, we'll probably still build those.
but it will be real general contractor, sky cranes, you know, yellow vest and hardhat People and get the job done real quick.
chandrika, I agree with you and I think it's super important that you committed today to 30 days from now, we're going to have posted on loopnet
or with realtors or whatever. What is 30 days? Within 30 days, we're going to figure out what we're leasing, what we're selling, and What I'm hearing from you.
and I just want to make sure confirm it is before it was all on you guys and the city may Or may not have been that helpful.
and that's why we're slow. And you feel like, I don't want put words in your mouth. You feel like there's maybe going to be 15 different builders.
so we have 15 different people that paid money are on the clock with interim money or Fund money that they got, that the burden is on them.
so I feel like maybe we've got 15 times more people that are going to be in way bigger Hurry than we've ever been in the history of the project.
is that accurate? That is very accurate, yes, sir. I drove through entrada after going to starbucks and came here and I ran into two Realtors putting up signs and they said, we have already sold two of
the ten lots that we have already. I stopped both of them and said for me, I mean, I've been here nine years.
like, that's exciting, to me, that's progress. Yes, sir. That is..
it felt like a monopoly that had no incentive to finish before.
and it sounds like we're going to democracy with 15 folks that have their money involved To get to the finish line.
hey, I got 15 more people pulling the cart now. Mike, do you think it's possible when you come in front of the council to give us some Type of visual map to show us what's being done and the next level?
fantastic. And also a timeline. I think seeing that progression each time they come would be very helpful.
I do not have a timeline tonight. Okay.
the pdf didn't work.
next slide, please. So those are the two restaurant buildings, restaurant a and bcd.
bcd is where hugo's and 1845 are going and then the pedestrian bridge in the middle.
next slide, I'm sorry. Can you say that again. Restaurant bcd on the right, it's for hugo's in 1845.
so there'll be two restaurants in that spot. Yes, sir. They completely filled that building.
thank you. And the other restaurant that has the sign out.
palacio's. Palacio's? Yes, that's the reception hall. That's reception hall. So on that previous slide, the restaurant a, is what you're saying Could go to an office space if
if I end up doing something to hold the real estate for a couple of years and let the Other restaurants mature.
that's what we would do. If I can continue to bring in really good operators that have skin in the game with me, Then I will continue to do restaurants.
that's what I don't want to do is force an issue because I have a vacancy and then we get An operator that may not make it.
both of the people that we have so far I feel very strong about. They'll do well here very well.
next slide. So 1845. And then he goes, he has a bigger patio that closest to the chapel.
and then next slide. This is inside 1845 over at lakeside flower mound.
just the interior shot. And next slide.
hugo's, their outdoor patio.
and we've had discussions with both of them about how we'll shade these patios with the West face, probably looking to put columns out on the patio edge and then use the big
sail tarps to kind of make a shape like that. That's not incredibly expensive, but it's something that'll give a shade when we need it.
next slide. This would be the a discussion or request to look at being able to do five Condos on the second floor up here next to starbucks
. Next slide. And that is a permitted use in that area.
so it's just required sup. But in the original concept that that was a permitted use there at that location, are They a one or two bedrooms or two bedrooms?
all two bedrooms, 1100 square feet, two bedrooms, two baths. And they would park the lower level price point we're looking at for that $700 a foot, 750.
and then we'll get rid of the little land where the photo booth was going to sit on? [inaudible] we sold that land.
oh, he's supposed to build his own little office there, financial planner.
so that's the isometric view. Go ahead and submit for the sup and see if there's an opportunity to do that.
next slide, please. Repository. Next slide. We're under construction.
they cleared the trees grading. They mobilized for grading today.
and then about three weeks to move the dirt. And then we'll have the concrete people move in. Now, on the repository itself, that's what goes into what kind of items we can be.
the first floor is these larger, almost like a man cave suite.
they're like 30 feet deep and 15 to 18 feet wide. And then you can drive through the first floor of the building in and out, so you can Have your own little private garage.
and the first floor, second floor is being set up as an auto club. We're going to call it entrada auto works with the w-e-r-k-s.
and that would be like a valet parking where you could lease your own space.
we kind of copying what we saw. It's called the shop down on 114, and that would tie in with the rooftop restaurant.
and then we added a pool up on top as well. So that would almost be like an auto social club.
tie the two together, third floor is regular storage. Fourth floor has some larger storage spaces and office suites around the perimeter.
is this the one you need the crane for? Yes. Scott crane. I'm just excited.
I mean, that means to me that's real progress just to get a crane, you know, and your Timeline for that is..
immediate, I mean, they're under construction now. It's supposed to be concrete, will move in right after grading is done.
we've got to set the piers for the crane itself and then bring everything else in. Okay. And what kind of restaurant on top?
well, we make it like a private social club tied in with entrada auto works like a Membership thing, bar [inaudible], not a really heavy restaurant upstairs, but we already
have the grease trap in the first floor. So are you retaining ownership of that?
is that through mrw or another? It's amr. Amr westlake storage?
okay. That next slide and the 114 connection, we're just trying to get tri-county to move The duck bank.
I'll build right up to it if they'll let me just want to get started.
my next slide. Next slide. This is the hotel, mr. Walters. That's the location.
that's part of our closing this week. We're contributing that land to our it's a 5149 partnership, so I can count the jobs as a 51% owner, and then he's going to bring the financing to go vertical on the hotel.
the next slide that's currently out and then the athletic center I'm responsible to Build.
that's why it's got my name on it. So I'm going to be named that. And then we're sharing the pool like we're going to split the cost of the pool 50/50.
so people that join the athletic club have access to the pool. The hotel is going to provide food service and beverage to the pool exclusively, like It's like another social club.
the next slide, just the autocad. Next slide, and then a, b and c where we finalized the parking configuration.
next slide. Structural engineering has been released down to like c, I think it's going To be 69 units, not 70.
and then we made all the stores bigger on the first floor. The middle row between the two head end parking spaces will be actually storage units set Up for each unit as well.
so you can have your bicycles downstairs, not have to haul them down the elevator. Could we go back to the the facade of the hotel?
I feel like we blew right past that. Oh, the. We don't have the facade for the hotel yet.
we have the condo building. I thought I just saw it. And then we go back another one here?
yes, sir. That's not a hotel? No sir, that's condo a. Ok, thank you. Next slide.
and then this would be the office opportunity. Mr. Hope and the mayor will meet about thursday afternoon.
I believe it's confirmed. And they went to bring 200,000 square foot tenant from california to build the [inaudible] as his contractor.
so more screens and they know how to get it done quickly.
and the next slide. Next slide.
next slide. And this is the layout for phase two.
next slide. So instead of all the residential that we have before the road comes across From the lake at the 114
connection follows the lake edge. And so I have a really good, safe t intersection right where it comes out of the Roundabout.
and then that pad depth all the way down, 114 is about 310 feet deep.
and that's normal commercial pad. It's eight acres, 8.2 acres total.
it depends on how somebody wants to carve it up. If somebody wants the three acres and what's left over, we have to lay out a site plan For the commercial and make sure the fire lanes work coming back out.
I show an extension to the east. I'm leaving that on the site plan.
I'm hoping that somehow we figure out how to get another connection to the frontage road. I can't count on that.
[inaudible] to the town. And then somebody's going to have go to austin and convince txdot.
but we have that in our site plan. If not, there's an opportunity to work with glen starr.
they have a fire lane that comes right up to the property, close to the property line for Their parking garages so that we can have life safety coming out of the back of those
commercial pads. It's not just all relying on our infrastructure for the streets.
and would there be I'm assuming there's parking on this to that the pad site that you See.
I'm assuming that they're going to buy and surface park on each pad. We're not going to be able to suggest, hey, go to that garage or these aren't really Valet kind of sites.
okay. That's what I think. Now, if we can work out something with glen starr and you have an off hours parking with Their garage that's right next door, that that could really help out because then you
don't have as much surface parking. You still have like a teaser road in front of him, kind of like what we're going to do Along the restaurant row here, but we could bulk park in there in their existing garage.
and so when you talk about the surface parking, it's basically the set up here. The parking lots are just outside.
yes, sir. Right outside, but not garaged. No, they can't.
I haven't been able to like especially with the hotels, they didn't want to go in the Garages.
they couldn't afford the price on the parking spaces here. If we're going to go to market and sell it, try to get as much sales tax as we can.
I think being able to offer surface parking or go cut the deal with glen starr, that's Close by.
something like that will make a big difference because every every square foot of land That doesn't have to be a parking space can be something that's selling and creating sales
tax. You know, it's just a parking efficiency issue. We're doing all the detention.
they don't have any open space requirements and then zoning. It's just how do we figure the parking out that makes the most sense.
it's, you know, retail has got to be in and out. They're not going to walk across the street.
if it's a sit down restaurant, then the valets open up and we could get that glenn starr Garage, you know, work out something with them.
that's a different discussion. But either way, they'll have to have some more surface parking to make it work.
excellent. And mike, you mentioned that you thought those lots of sound that way would Fly off the market.
yes. And are you thinking selling them ground lease? What are you thinking? The financial preference would be the ground lease and selling the Cap rate.
I don't want to become the hindrance and a lot of the people that would be interested in These are going to own that.
that's why I asked. I understand the need to generate the sales tax dollars as well.
we need a bigger picture than just three sites along 114.
so if that's if we have buyers that want to buy the dirt and the dirt.
this is the restaurant we actually met with. He was representing them.
it's out in lubbock. That's how the conversation kind of got started. He was asking for three acres.
so you can look on the thing. You can see a three acre line on the site plan. Just give him like the front door.
it would look really cool because he'd be sitting right up on that hill and very, very Visible about up and down 114.
next time. Interior. The lucky door. Neat.
and next slide. And then the core lot. So this is the property we now have under contract.
it's next slide. We haven't drawn it 49 residential home sites.
and then I'm mirroring some of the trees that are already built just to kind of balance Out that corner.
and then I've got a parking access issue to figure out up there to make it safer.
but the 49 home sites that you see that would be gated, the gates pointing towards the Parking lot, that is water next to the parking lot as well, would be extending the canal
across, have a dog park down by the office building and then open up for a child care Center on the corner.
did you go talk to primrose about that? We've been emailing and I've also talked to him about adding it to the board.
he's open to doing that as well. So I've instructed essex to make that happen and that'll get done.
sure. I have a question, mike, on the phase two portion.
on the core logic, the purple colored one, where would the restaurant be?
is that what's going to be on the front end of it? What's the one the restaurants would be out on?
114. It's off map on this slide.
okay. And so what is this purple portion? What would this be?
well, I'm hoping it's blue, but I'm the same. Sorry. Little colored light water.
we're extending the canal water feature. Well, that's just one. That's not any.
just water. And the rest of these are all single family homes.
single family homes, yes. And they would be built under the same design guidelines as in toronto.
the only thing I keep hearing from people is can we look at synthetic clay tile?
because every time a thunderstorm comes through, it's 5000 to go fix all these roofs.
and then I also got one gentleman interested in the metal roof. And I said, if you can find me some pictures of where they did it in spain on a 500 year Old house, then I'll be happy to present on the council, you know.
but I mean, it's we can make if you go back to the lucky door restaurant image, go back Three.
I think it's three slides and one more. Those are the shed metal roofs.
that's kind of what it would look like. You don't see the metal as a prominent feature. But that's a separate discussion that has a lot of things to be worked out.
and then on the corelogic the 300 and I think it's 350 parking spaces.
are you are you thinking about getting that portion to make it like the high end portion Of it would be gated gates on the south side or north side facing the parking lot?
jared can we can we get that property or does that be a public access?
it can be gated to maintain it.
yeah. And try to we have to maintain the streets anyway, even though they're publicly Platted right away.
these would be private, so there wouldn't be any opportunity for the street Reimbursement.
would they be wider than the normal? Yes, sir. And they're straight down curves as straight as we can make it.
and it come in off a slant. Correct. Yes. And to come in off of salon and primary interest, the gate would be down at The other end like the in and out is up next to the child care.
okay. Thank you. I see it now. Where's the 114 on this? It's off. I'm sorry.
I forgot.
if you go, can we go back three slides for one, four slides more again or
more? Okay. Corelogic is where it says land use legend.
that's all the corelogic property to the south and east of entrada, the 114 where the Commercial potential commercial layout would be, is on the top right hand
side. Got it. Thank you. So where says phase two is? We're talking about the commercial.
yes, sir. Okay. And then corelogic is the land use legend area.
and ballpark, what do we eliminate? Razzi that would have backed up to 114.
38 units. And I'm not like, if we go back a couple more to the commercial layout, those are the There's
I still left a couple of the villas in there right now like we're playing with the water For the if we go the alternate route for phase two, there might be additional commercial
opportunities on the other side of that fire lane. I just wanted to see what that strip looked like first along the highway, because once You get people in, then you can have a second tier behind it.
but to start with the commercial frontage first. So I'm not saying it could be all 52 houses can move out of there, but 30 of them, 38 no Matter what.
yeah, right. Because and also the restaurant will act like a sound buffer for that.
yes, that's a plus. And restaurant patios, they do they look out over and try to yes.
it would be backing to 140 and the way I envision it if they would back to 114 patios are Out on the front so we'd have to have a service lane behind them.
that's what would be closest to 114 with the dumpsters and all that other stuff would end Up because they'll be overlooking water too.
I have to have that water there somewhere for my attention and it's a fungible shape.
we just know where it comes in from. Nowhere, it's got to go out and anything else we can move around.
there's a town hall in there. Are you making one for us? Well, you already have a town hall site.
we'd be happy to be very happy. This site right here as well. It's saved.
some people have got confusing that. That's the town. Do we own the site for the proposed town hall?
right. We own that. We own that. We have the deed. So we hope that because because when I was looking through the Development agreements earlier, it said that the deed simple was actually held by the
developer, not the town, and that we had a right to develop for five years.
but if we didn't develop, we gave up that right. So you own the land?
yeah. The we of a separate deed. The deed proper title over to the deed itself does not contain any language like that.
okay. It was a it was separate from the developer's agreement. We we paid pet fees on that.
yes. No, they were excluded. It the sap it was in this economic program development agreement.
I'm 98% sure there's no bid assessment on that land. I will double check that.
but I believe we are paying with one of your developers, if they were interested, need That land.
it would create value to your project. Yeah. Yes, it would. Yes, sir.
how much is it? Point eight, six, seven acre. And so you basically have a 10th of an acre zoned for about 500,000 right now.
so that's a valuable piece of land. It's a very it's waterview two.
right. Water surrounded three sides. Yes. So it's like a $7 million piece of land.
12, 15. And our city has done keep going, keep go do it.
I mean, that site was chosen on purpose because of the preeminent position it would have Looking for 114.
so it is a a nice piece of dirt.
and so did we enter into a separate purchase agreement. It was deeded over as part of consideration for the park I'm sorry for the tree Remediation fees for entrada in granada.
so it's a developer out about a couple of million dollars. When would that have been entered into 16.
yeah. Okay. 15, 16, 15. Okay. Okay.
yeah, because I'm just going back to what was signed in april of 2013 and yeah, there was That was subject to a five year.
yeah. So at the time there was some discussion, there was never any action. But when the developer came forward wanting to take care of his tree mitigation, that he Had to take care of it again.
it was somewhere around two million. It could have been 1.5. He had asked, would the town entertain exchanging that debt for a piece of property?
and so that's what we did. Okay, so it's worth like 20 million now.
yeah, because that was in 2016. So it should be it's good to hear like that in the minutes.
and there was one other item I would like to bring up for consideration as a feature and Not on anybody's agenda.
but we have there might be an opportunity to open a standalone bar where it's allowed in The town of westlake, but it's not in the entrada zoning.
so the next time we come through with the development plan amendment where they have the Zoning open, if you would consider giving me the same opportunity just to do a stand alone
bar and not have to try to mix it with the restaurant or the food sales or something like That.
what kind of bar are we talking about? Oh, this would be like dollar dollar beers.
cheap is ideal. No, it would be the parliament concept like that from downtown, because what we would Want to do in restaurant a, the first building the middle, if you go to the last
slide of the wine bar or just like a wine bar. Yeah, but I just don't I'm asking to not have to cover it with food sales because I can Put it right there in the middle.
that's what it's already planned for. And the permit sets that are in, but without an adjoining restaurant next door as a Standalone bar that's treated differently by tabc and it has to be allowed in the zoning.
but was that not being consumed by a and c, the two other restaurants?
no. This has always been the concept plan for that building. There's three. Can you go back to the a, b, c restaurant slide?
just so we're clear at the beginning.
yeah, very. So the bcd that the building is the one that's completely full.
now he goes in 1845 and restaurant a is that middle c, the three windows with the flat Roof above them.
okay, that's the space so approximate. But just in, that would be where we would try to do one today.
but I'm asking if there's an opportunity to make that bar use match the rest of the town Of westlake.
I don't know why we did it differently. Then how does that fit with your office concept as a temporary measure?
no, this would be permanent. That would be. But you'd have office still have that proposal office as if we end up Holding the real estate if we don't get the other tenants.
but you know if you, if you put in the bar concept is that?
that's permanent understood. But does that prevent you then from continuing to advertise for another restaurant tenant?
not at all. It doesn't it helps that it was planned to always be that anyway between the Two existing.
but does that not split restaurant a in half? It's already set up to be two different venues with the bar in the middle those are the Plans you see for a are the ones that we have a permit for.
I can go start those now it's just when hugo's and marty b came they said well we want This building.
it's like, okay, so let me make sure I understand. So in westlake today you can have a standalone bar, but you can't in entrada proper?
ask brian to make sure I understood it correctly, but it's a percentage of alcohol sales.
yeah, and we I think you can do it in westlake, but you can't do it in entrada.
so the code of ordinances doesn't allow bars, doesn't allow an establishment to get more Than 75% of its sales from
liquor. But it does say that in the pd districts that that could be changed.
so entrada doesn't have any provision for that. It does allow for a wine bar, but it wouldn't allow for any other type of bar.
thank you. So like unlimited zima.
yeah, but I mean, I'm just asking.
food for thought. You know, if the building breaks up that way, and I have somebody that Really, really wants to open the bar, but I understand you don't want to put the cat out
of the bag. But are you thinking super high end? Are you thinking, no, it would definitely be no high end speakeasy.
like if it lay out, well, it's like, you know, it'd be like a hidden front door.
like you'd have to know where you're going. Oh, kind of like one of those that are down by deep ellum. There's one like that. Yeah.
yeah, I like that idea. Yeah. Yeah.
it's a different topic, though. Does anyone have any questions?
so, mike, I'm no stranger to real estate. So there are often conflicts of interest in real estate, especially in a small town.
so I have a question. As a major developer in our community, would you partner with us to make sure that there Is no conflict of interest in your development by either
current or former elected officials or municipal employees?
sure. I'm interested in transparency with these entities that are investing in entrada.
now let me be clear. I am not worried about non-elected officials and non municipally employed staff who might Be invested in entrada.
I just believe it's really important to make sure this is all brought to light so that we Can have the most valuable and efficient development here in town.
okay. Here to help you any way I can. Okay. Your item is on number 13 on the main agenda.
you want to take an end in work session, and we'll start off with your theme, please, and Then give you a break.
unless you want to go another 2 hours, I'll be great. I'll give you a break and then we can get prep for the 5:00.
so thank you and work session for now and we'll come back at five for the regular order.
are you done with your presentation, mike? Yes, that was the last thing.
let's do the regular work meeting. It's called to order.
we'll start off with the pledge of allegiance. All right. All right.
all right. Any citizen comments?
no, none. Items of community interest.
mayor. Good evening, council. Good evening, everybody. We have an extremely busy late september and october, so I'm going to bust through this As quickly as possible because I understand there's a cowboys game
tonight, so a lot of people are going to be trying to race home. So buckle up. Here we go. So let's start off with the first thing this week is stroll westlake's Neighborhood neighbor's night out.
that's on thursday from 5:30 to 7:30 at the marriott here in westlake academy homecoming Is friday, september 30th.
our next town council meeting is a little different. It's a week from tonight on october 3rd, beginning at 5:00, the very next day on tuesday, October 4th, from 8 to 9:30 as a of coffee and conversation with the
mayor. Wednesday, october 5th is world teacher's day.
I'll be sending you guys an email tomorrow with some fun things that we're hoping to do.
and mr. Beatty, I reached out to him as well about some. Oh, yep, yep, yep. So we're we're looking to do a few cool things here, so I'll update You guys with that so we can honor all of our teachers from around the area.
our next fall concert is october six, which is next thursday.
our first concert was was last thursday, which I'll update you about. So we'll have three this fall.
so that'll be number two. Elevation will be the featured music group there.
we have a fall cleanup saturday, october 8th from 9 to 11 a.m..
and it's going to be right here, right outside of these doors in the parking lot. They're going to have four stations.
they're going to have a hazardous waste, which is called the crud cruiser, electronics, Recycling, option, document shredding and bulk trash.
you'll need to be a current westlake resident with a license or a water bill to show up.
but it's it's obviously a great opportunity to do a little spring cleaning in the fall.
our planning and zoning meeting is monday, october 10th. We have a metro port chamber luncheon, which I emailed you guys a reminder about that Today if if I could get all rsvp back by friday so we can go ahead and sign
up for that. That's wednesday, october 12th, from 11 to 1 p.m. At the texas motor speedway.
then, of course, one of our larger events of the year is the westlake classic car show.
that's saturday, october 15th, from 11 to 4. That's going to be in a new location again right outside of here.
I know jared and emily and troy have been working really hard to put that all together.
so that's going to be another exciting, another exciting day on the 15th from 11 to 4.
again, our third concert of the fall was going to be on october 20th from 6:30 to 8 There at windy city, that will be again over at the solana plaza.
then we have monster mash saturday, october 22nd from 5 to 7:30. That's on the westlake academy campus.
but the one was stressed that this this is open to all westlake residents, not just Westlake academy students and family.
so please come on by for that. We have a few little quick items to mention here.
of course, as you as you guys all recall, last week was blacksmith giving day.
the results are in and they were phenomenal. So, yes, please. A round of applause to the the entire school, the westlake academy Foundation, shelley, christine, the entire gang, finish number one amongst all schools
with a $1,179,147 in donations.
and that was 419 donations. The second place was 886,000 with 848.
so a little less than half. And just just just ran away with it there.
so congratulations to them. It's it's it's a big deal for them. Thank you to all of you guys for your your time on the council photos and thank you for Let me know which one the individual shots I'll be sending those out to you if you like to
use them in any way. And also we'll do some of the group shots as well and start publicizing that and use it And some of our our marketing and literature.
I want to get back to our concert. I mentioned that before we had about 50 people at our first concert last thursday.
I had a nice meeting today with the folks over at the solana plaza.
we're going to we're going to partner with the restaurants and they're going to bring out Some some food, drinks, that kind of thing to really make it a little more user friendly.
so folks aren't going back and forth into the restaurant and having to choose between Listening to music or going out to eat.
so we're going to bring the food and drinks to them out there on the plaza. It's going to be a lot of fun. And as we get later into the into the year, the weather is Going to cool down.
so I urge anybody who wants to come by and it'll be going to be a lot of fun.
so thanks to the band from last last thursday, they were they were excellent.
two quick final notes here. We have a westlake wire going out tomorrow. All the things that I just mentioned are going to be involved in that.
we're also going to include introductions to the new p and z members.
we're going to talk about the entrada update that we just discussed tonight. And of course, october is cybersecurity month.
so each week we're going to issue tips to residents and anyone who's interested in some Cybersecurity information to keep us all safe.
we have. One other event that I'd like to talk about, but for that, we have some special Guests that I'd like to bring up now who can fill us all in.
good evening, angie. Chelsea and my daughters, caroline and claire, where westlake Residence at 1610 fair oaks drive over in glen wick farms.
and we have a real special event we want to tell you about. So I'm going to start with caroline and then claire.
so we are having our annual blood drive with carter blood care, and this is the flier for It and it's on saturday, october 29th, from 9 to 4
at the westlake fire department. And we all of our volunteer spots are full, but we still need people to come donate blood.
so you just have to be 16. So we would love if people could come by to donate.
this is important because there's a dire shortage of blood in our community and each Donation can save up to three lives.
and I want to specifically thank fire chief rich whitten. He always does a great job helping us out and he's always present and gives great tours Of the brand new.
well, I guess it's not brand new anymore, but the beautiful westlake fire station. And so we want to invite all the public.
we have some fliers with qr codes, so it's real simple. You just scan the qr code to sign up for a time to donate.
it takes 15 minutes of your time. And as claire said, each donation can save up to three lives.
we've maximized the donations every year, so we hope to continue that tradition.
so thank you. Thank you all for doing that. Thank you so much. Appreciate it.
john, did you mention homecoming? Oh, you did mention homecoming. So I'm going to mention it again.
so we got three great football teams at westlake academy. Our varsity team is four and one.
they're averaging 56 points a game. Thursday at seven is the jv game excuse me, friday at 530.
it's a junior high game and then 7:00 is the varsity game. So please, everybody come out.
it's a lot of fun. We're trying to make it very special this year. Thank you.
thank you very much. Let's move on to the consent agenda first item.
let's see. We through here consider approval of the joint town council board of trustee Meetings from the following meetings september 12th, 2022
regular meeting and then item b considered approving. Westlake academy 22-22 approving an amended westlake academy mission statement and the Issues.
all right. Can I get a motion to approve. Yeah I'll make a motion.
second. I'll second. All in favor. Aye.
aye. All those opposed. No opposed. Motion carries.
right. Reports receive a third quarter town of westlake financial investment report.
any questions about it? [inaudible] is presented for council's consideration.
if you don't have any questions, does anyone have any questions about it? No questions for me?
no. All right, then we go on to regular agenda items.
we're going to jump ahead to 13 to bring up mr. Beatty back up here.
consider approving resolution 22-64, approving the [inaudible] assignments of rights Covenants, obligations of the economic development program agreement, and the development
and subdivision improvement agreement with maguire partners, solano land, l.p.
to mwr investors llc and authorizing the mayor to approve the assignment on behalf of the Town and take appropriate action.
jerry, do you have a more briefing associated with this right now? No, sir, I don't.
I mean, that was pretty good if you want to. Mike, want to come back up and we can continue the conversation we had before, which is Tied to this.
are there any other questions associated with this? I do have a question. What can you give us the ownership of mrw investors?
I own well, currently owned 80%. And then frank zaccanelli and kyle bass owned the other 20%.
part of the settlement with the previous owner, that's going to change to 70/30.
so 70 will be yours and 30 would be the zaccanelli and bass.
correct. And when did you guys settle?
the rule 11 was back in april, beginning of april.
so did you did you acquire mrw from the ownership interest?
yes, sir. So was mehrdad a prior member of that llc?
yes. He was the 80% owner or wasn't? And the new companies mgb.
mcgde. Man you guys are killing me. And what's that?
that's my five kids name. Michael, caleb, gabrielle, declan and everly, mcgde.
well done. When did this, when did the actual change in ownership occur?
it's july 31st. July 31st. Okay. And then in terms of the public record, I assume that just so mrw, I think mehrdad Is still listed as the registered agent in texas.
is that being updated to be updated? Yes, sir. And then same question, because I think losf is the manager and member.
that's the entity that I purchased. Yes. Okay. Understood. So again, in terms of the public record, it just needs to be updated.
yes. Understood. And then is mwr being or mrw being dissolved?
no, that does that still own like the starbucks and all that stuff and under a subsidiary Entity, it's mm entrada commercial
llc because every time we finish a building I put it into a standalone spe because of the Construction risk associated with the other projects.
so I've done that with the restaurants, I've done that with the parking garage. It's all the same structure.
it's just carving it up for insurance risks. So you have like 100 companies.
no, no. But you're doing that to firewall the liability? Yes sir. From taking down the other entities.
yes, sir. So once the business is open, that's a completely different risk factor than The construction site where we're all in.
so mrw owns the major share of and then you have the smaller entities that are [inaudible] sups.
yeah, that's the special purpose entity just for individual assets. For the individual assets.
but the entire project is owned.. Under mrw. Under mrw. And so did the this legal assignment, I mean, is this
so maybe, jared maybe this is a question for you. So when we're asked to vote on the actual assignment from a legal perspective, you've Already taken over control of the developer for purposes
of entrada that needs to be consented to by the town, is that correct?
and that's the purpose of this particular vote? Yes, sir. This evening.
so one of we do have assignment. Don't think of this assignment as just exclusive to entrada.
we had an assignment clause for granada and so even just pure residential developments, we Will have an assignment clause in there as well.
and a lot of that is to get the developer, the new owner in front of counsel so they can Look at you and you can look in them in the eyes
and make sure that everything that was promised is going to be delivered.
and so it's just some of that reassurance.
in addition to that, there is the requirements specific to entrada that the developer Will have to adhere to.
and so part of the assignment approval process would be the developer would be back then Also assuming the developer agreement
responsibilities and the economic development agreement responsibilities.
so there's also those two pieces that are in there as well, each on their own agreement.
so mike you can see why we're hesitant. I mean, we're trying to work with you, but when an llc like we all have, a lot of us have Businesses, but to update an llc, you walk into
southlake downstairs and change it up. So the fact that mehrdad's name is still on it and you know, you knew you were coming Before us for a while.
you know, we got to make sure that the eyes are dotted and t's are crossed because Ultimately the city of westlake is a town of westlake, is
looking at us to speed this thing up. And if if we don't make sure that everything is tight, then we're all going to have egg on Our face like the last regime.
yes, sir. I will double check with the attorneys because all the state stuff should have Been updated on the july 31st.
as of today, llsf, which is a member and the manager of mrw, mehrdad, is listed as the Registered agent and the manager.
that's public record. That will be fixed tomorrow. So I guess one of my questions is, you know, it's one thing for us to be told that there Has been an assignment of developer duties and we're approving that
formal assignment, but we've not seen any contract in in amongst the llcs or the entities To show that a true change in ownership has occurred so.
well. I provided mr. Kilbride that exhibit earlier today.
okay. So you're welcome to review it. Okay. Same question for recital f to the assignment itself.
it says town council of the town finds that the assigning is financially capable of Meeting the terms and conditions of the development agreement.
and I guess you're going to say the same thing that's been submitted to us. Okay. So we can take a look at that.
I also noticed so it looked like two assignments had occurred back to back in 2014.
were you a part of that at all? The property went under contract to a gentleman named doug hickok marquee development, And we got to he was buying all 85 acres and it was right before the pid bonds were
sold. So the pid were actually we're still in the process of setting the pid up.
he we funded on a friday is supposed to close on a monday and then he changed his mind Over the weekend decided not to purchase the property.
that's why we had to revert back to the maguire partners entity.
so a formal assignment of consent had occurred and then it was reversed.
the other thing is, so having obviously the assignment itself is quite a lengthy part of The it's a public document, obviously, but
part of the agenda. But having gone back and reviewed the prior assignment that occurred in august of 2014, There are some language differences between the two sets of assignments.
and I think the one I probably had the largest question out was this carve out of Obligations of you, the new developer, taking over from prior
developer and generally the assignee, acknowledgment says that the assignee, which is Effectively your controlled entity in this case, will assume
and acknowledges all of the rules, regulations and requirements as specified in the Development agreements, which is obviously one of the key documents you're taking over,
accepts and assumes the rights covenants and obligations of the development agreements And assumes all of assignors, covenants and obligations as if the assignee, you had been
an original party to the development agreement. So that encompasses both the developer's agreement and the economic development agreement.
and there's this carve out that says, provided however, that assignees assumption extends Only to the obligations, covenant rules, regulations and requirements first accruing from
and after, but not prior to the date hereof.
and so I guess my question or concern would be why is there a carve out to having an Obligation to perform certain duties that were expected of the developer
prior to the date of this agreement? We prepared a template based off the other assignments, and that language was either Already in there or was added by the town attorney.
I don't think that came from our side. I'll have to double check, but I specifically did not ask for that carve out.
I don't know. I know exactly what the obligations are. I was here in the first agreement was done.
yeah. And like, as I said, I've got the prior assignment right here and there just and There are other deviations.
I mean, we can go through more details, but I would propose that maybe just because There's also additional information to consider, maybe we just table this item.
I would second that with david because I would also like to see the contract that if There is a contract, please, I did not find that in our packet.
if you can provide it to us, that'd be great. I appreciate that.
sure. Or what are your thoughts on this right now based on the the questions that council Member quint raised,
this is an opportunity for council to kind of rereview this.
it also presents an opportunity for the developer to get the economic development Agreement and developer's agreement prepared for
signatures that can be considered at a later council meeting.
and being that it's a the same agreement, we should be able to get that back in front of Council within the next 45 days, if that's something.
so are you saying conditionally approved on contingent upon the economic agreement?
are you saying table it until the economic agreement? Well, I'm saying if it was just waiting for those agreements to be executed, we could Just approve this condition upon getting those executed.
however, with council
I'm not doing that. So I would say that getting the developer's agreement, economic development agreement, Getting those revised, we would not be able to get everything done prior to next
monday's meeting in time for posting. So I would propose that we would push out to at least the next october council meeting, Which is the 25th, 24th.
so on the 24th, we bring the issue forth. On the 24th, yeah, we could like we want to help you, but we just kind of make sure I Understand, you know, there's too much history.
I'll be texting. That isn't good that we got to make sure that you're doing it right.
we see everything right, and we make the best decision for the town of westlake.
I fully understand it's not a problem. So that the outstanding views for this or the economic agreement for the 24th is that it Is?
developer agreement, economic development agreement, and then obviously getting on the Losf and getting mehrdad's name removed from that.
and so that.. And from mrw.. And from mrw to the registered agent. So what we need, what we will need to happen is we will need to table this to october 24th is what we will do.
sure. So well, the motion will be tabled.
we'll need a second vote. Right. Are there any more questions right now since he's here?
no, I would just my only last observation would probably be bringing this assignment in Conformity with the prior assignment, which reads better and is more complete.
and then probably having stan confirmed that he's happy with its form. Sure. Okay. Then I thought he was the final.
stan did review this. He did review this, but obviously he didn't review the mehrdad's name still tied to Everything.
and so we will make sure that that's reviewed as well.
are there any other questions? I did say table postpone.
amy corrected me. Postpone until october 24th. Okay. Can I get a motion to postpone this to october 24th?
I will make a motion to table to postpone. I second.. Until october 24.
all in favor. Aye. All oppose. Motion carries.
thank you. Thank you. Thanks for being here. Let's go to item
number eight presentation discussion regarding the public arts competition.
robyn. Good evening.
I'm robyn mccaffrey. So I'm here to talk tonight about public art.
and put your hands out. So putting a hand out one of our donor brochures where we show The donors to if you'd like to participate.
which one advances? One of the right. The right. The right.
got it. Okay. Well, the westlake public art program to start off with westlake is always saw itself as And has distinguished itself
as a unique place within the growing fabric of dallas, texas.
it has been said that westlake as nobody's suburb. I've heard that before, and that seems to be the way westlake is indeed growing and Developing.
so westlake seeks in its public art projects that are filled with sculptural gestures and At the very founding when solana was built and you can see
from the photographs and the slide, it was basically a mega sculpture.
all kinds of sculptural gestures. So to interact with the land and the building and the water all worked together to create This fabric of interest.
it was seeking a form, giving impact of art over the ornamentation, of augmenting the Public way, of seeking art that will have a form giving impact on
the growth of the city and the art sensibility.
seemingly because of the start with solana and other things, that art is ingrained in the Sensibilities of the community.
education, design and art seem to be the leading distinctions of westlake.
so we did the comp plan back in 2015, and as an adjunct to that complaint, we embarked Upon a public art plan with citizen participation.
many of the citizens that participated not also participated in the comp plan.
and two things were clear from that those those work sessions. One is that the citizens identified they want to talk about the purpose of art in Westlake, not talk about what's good art or what's bad art.
what do we want art to do in westlake? The citizens also called for.
we don't want to just be westlake out here, you know, hiring someone to go buy some I Call [inaudible] to chitchat from a dealer.
but we want to really get involved in true art and we want to establish a relationship With the larger arts community so that we and the rest
of the arts community of the metroplex are in agreement on what constitutes worthy public Art for the town of westlake.
and the reason this is important is because westlake, you can see by this diagram, you Know, it maintains the submarket distinction.
keller, down the road, not very far is high price points in.
keller are $1,000,000 or more less than the price points in westlake.
so the spatial sort of isolation that westlake has historically enjoyed has allowed the Identification of a submarket pretty much bounded within
westlake. But as the encroaching communities inch ever closer to westlake, that spatial Separation that establishes a submarket is a little bit
murkier, harder to define. So one of the things that the comp plan sought to do was to reinforce that submarket Distinction.
and the way that was done was through high quality design and construction.
and for that, we have the building quality manual and other things that the staff has put Together.
specialty office and retail such as entrada.
preservation. Preservation not only of buildings but of the landmark landforms which the Comp plan calls for.
open space and parks, public art and education.
so these things all sort of reinforce the submarket that is westlake these things that Are only accessible to and enjoyed by and for the use of the
citizens of westlake in that way is a measure of value protection, which was another sort Of mission of the complaint.
so how to approach that then to make this public art a distinctive program that will be Viewed by the metroplex in general as a program that's one
of a kind and is truly worthy of distinction.
so what we did is we formed a partnership with the art institutions of the community.
for example, the dallas museum of art, the amon carter, the grace museum, also leading Galleries, the barrie whistler gallery, the chris waller gallery and
others. And so you can see in one side is the town of westlake, and then the other side You see institutions that have joined us in
this public art program. And and, by the way, as I'll show you in a minute, became members of the selection Committee in our competition.
and so they this is kind of fulfilling a historic role that government has played in History, where government has been a patron working with the artists and the art
communities to find and nurture the emergence of great art in texas particularly, it's Important the edgar b davis
competition in 1927 in san antonio fostered literally the growth of every major art Institution in the state today the woody, the mcneigh, the dma,
the houston art society, the purple mountain painters in el paso, etc.
it was a catalytic moment for our state that was culturally significant.
and so that same kind of partnership can do the same thing for westlake, giving its art Program the kind of robustness that that only that partnership could create,
and thereby assuring what it brought to westlake meets a higher standard.
and as timeless as we can make it, and indeed is a masterpiece that will be considered as Such for years to come.
so that's an example of how this works. This is the graphic is the six is planned for rome, 1500s.
and that boat that shows the fountain boat, that was the boat that was put down by pope Sixtus plan at the time it was built was on the muddy banks
of the tiber river. There was no rome out there. 200 years later, you see the picture?
the big picture is the spanish steps. So the art in that location influenced and and and gave impetus to the evolution of Significant public space.
this is what well-placed art and well-intended art can do. So part of our vision was westlake is so large unbuilt.
why can't art and westlake have the same kind of power, further distinguishing westlake And reinforcing its submarket distinctions, etc.
and so the art art competition became then very focused on how can we accomplish this?
and you can see a street is just a street, but a street that isn't graced by Enhancements, particularly public art, becomes a public space.
you know, the lineal nature of streets serve a very lineal function.
but you grace that with public art we end up claiming a wider domain, of which the Movement is only a part.
so we had to put together a competition advisory committee who became the competition Selection committee, and the following people were on that
committee, russell tether, who was an art advisor for major corporations across the Country.
chris worley, who owns chris worley gallery down in the design district.
sue canterbury, who was the curator for american art at the dallas museum of fine arts, And she has a bunch of other distinctions following her name there.
judy deaton, who was chief curator and director of exhibitions for the grace museum in Abilene.
rebecca lawton, former curator of painting and sculpture for theme and carter.
paloma navarro's, who was currently charles schwab's corporate curator but was with the San francisco museum prior to that, hired away by schwab
. Myself, I did my service with the national endowments committee for the arts in Washington, katherine blair, who
was architect advisor on this wall project. Barrie whistler, owner of barrie whistler fine arts.
he has contributed works to many museums in the area.
so we had a pretty robust committee.
I'll get back to you. And so with them, we went through a two year process. These people served without compensation and a virus flew in from san francisco.
we also had not mentioned here because he came in late as.
doris delaforno, who was mit's curator, flew in from from boston.
so they came because they were excited about this program. They believed in what we were trying to do.
they gave their time for two years. We sent out a request for proposal.
we had over 200 recipients. People send in their proposals.
we narrowed that down to a small set of ten, went through about eight months of Deliberation on a meeting with them and talked to them about, well, if you could move your
concept in this direction. Anyway, the person that won was a guy named michael singer, who I'll get to in a second.
but but we also have been raising money for public art, and we've raised to date about a Little less than $1.1 million.
and that's pledge contributions. We still have pledge contributions out to about 100,000.
we have anticipated contributions of 250,000.
and then the play patrons, we reserved the space at the end of the funding cycle for the Citizens of westlake to participate.
and so those would be individual citizens. You can be a blade patron or you can have your name or one of the blades you'll see in a Minute for $25,000 contribution.
so ten people in westlake can be played patrons. Can we have more, but hopefully get ten.
that would bring us to 1.675. The total budget with maintenance and extra parts and that sort of thing is 1.7.
so we're within if now we're within the reasonable range and I'll show you, we have time To raise that money and I'll show you that in a second.
michael singer and singer studios was the selected artist.
michael singer has had a one man show at the guggenheim.
he's done the entrance for the athens embassy in greece. He's an international artist.
he's also you may have seen his stuff at the airport and in austin coming out to there.
so he's an international artist whose works many public collections, including the Australian national gallery, canberra, louisiana museum of art in denmark, art, louisiana,
the guggenheim museum in new york, the museum of modern art in new york and the Metropolitan museum in new york.
so he's well established. He's exploited the potential for site specific works to shape and define public space.
he was awarded a foundation for art and preservation and embassies commission to install The sculpture garden at the us embassy in athens and his team has been together for over
20 years and they are currently working on the contract for the city of westlake as they Work through.
it's a rather sophisticated design. There are a number of very specific engineering issues to be dealt with and so they're Taking their time making sure they have that right.
one of the one of those issues is the idea of the idea is that you have these 10 to 14 Foot tall blades that would be in the median of sloane boulevard.
and they will sway with the wind, as do the prairie grasses of our area, sway with the Wind.
so it's one of the. I mentioned earlier that the citizens of westlake in the public meetings talked about the Purposes of art.
one of the purposes of art that they defined was art that made the invisible of the Natural environment invisible, that made the intangible, tangible.
and certainly the idea of having a wind and solar driven work of art here accomplishes That very purpose.
and was one the reasons why this artist was selected. What was interesting about that, the idea was, well, they could be springs at the bottom, But now they're using a counterbalance system which allows the kinetic sort
of movement to be much more graceful as a counterbalance.
it's more like bending rather than hinging. And so I thought, you know, the artist is he's very attentive.
you know, he picked up on that detail right away and and came up with that.
and that's the artist there holding up a sheet of aluminum that will have piercings Similar to sort of pollen distributed from from grass.
and the blades are three sided. One side is actually sculpted aluminum.
so it has relief. The other side is pierced because they are dimly illuminated at night.
they glow a little bit at night, as you can see in the bottom picture, so that you have a Nighttime form and a daytime form activated by the wind.
so where are we in the process of all this? Well, the competition took about two years to kind of get everybody in and to we finished That and then we started fundraising.
when we got to about 50% fundraising, maybe a little bit more. We went under contract with the artists to begin to further develop his design, and now We're 60% better than in
funding. So this is where we are. It's going to take from if all were to go now, which is to continue to move forward, take About 24 months to actually get an installed work done
that can be attributed to the artist works very deliberately and slow.
there are supply chain issues having to do with springs and stuff that we're trying to Overcome and that will get us out there.
give us this time, though, to raise the balance of the money. Again, we have some pledges and expressions of interest that I have yet to follow up on.
I need to follow up on that. And I believe that we will have the money when the time comes and that will set us up, Set up the whole program with an inaugural project.
and if the the council so desires and the town so desires, it would be consider a second Work of art.
and robin, thank you for this. Just a quick question, because most of us are new.
how did all this come about? Did you come to the city and say, hey, I want to do art? Or did someone from the city come to you?
how did all this start? Well, the citizens of westlake, you know, again, we had the comp plan process and the Complaint process talked a lot about value preservation.
and the group that is I'm sorry, must not ask the question, well, did you come to the City or did someone from the city contact you?
well, the city, the citizens of westlake articulate the need. The city contacted me because it was an outgrowth of the comp plan process.