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From YouTube: Economic Development Advisory Committee Meeting 021221
Description
Economic Development Advisory Committee Meeting 021221
A
B
C
C
C
This
one's
going
to
be
from
mr
jose
cevallos
and
the
comment
reads
in
reference
to
item
4a
and
on
behalf
of
farias
development
ltd
and
faskin
ltd
for
own
embarcadero
business
park
and
have
several
hundred
acres
available
for
industrial
development.
We
are
submitting
these
comments
and
questions
first,
as
we
suggested
at
your
meeting
last
week,
we
asked
that
the
edac
recommend
to
the
city
council
that
the
city
develop
and
adopt
a
transparent,
fair
and
equitable
tax
incentive,
develop
policy
prior
to
acting
on
this
or
any
other
church
proposal.
C
This
policy
should
and
would
clearly
identify
and
promote
the
market
segments
that
might
meet
taxpayer
subsidy
for
development.
We
need
to
assure
that
quote
all
but
for
end
quote
the
requested
subsidy.
The
project
would
not
be
developed.
This
is
the
public
interest
threshold
that
we
should
honor
first.
C
Secondly,
the
introductory
ordinance
on
this
item
is
on
next
two
days:
city,
council
meeting:
is
this
consistent
with
chapter
311,
which
indicates
that
the
public
hearing
on
the
creation
of
the
zone
must
be
held
before
adopting
an
ordinance?
I
understand
that
the
hearings
will
be
held
subsequent
to
tuesday's
meeting,
but
why
introduce
the
ordinance
adoption
ahead
of
the
public
hearings,
especially
when
development
documents
have
only
been
shared
with
edac
the
public
and
stakeholders
today
and
on
a
holiday
break?
Why
are
we
rushing
this?
C
Thirdly,
information
contained
in
the
city
agenda
packet,
for
this
item
does
not
provide
a
market
analysis,
indicate
what
kind
and
scope
of
the
consulting
of
the
city
obtained
while
negotiating
this
or
job
creation,
industry
goals
or
requirements.
Why
is
that
not
being
made
public
at
this
point?
We
believe
that
performance
requirements
should
be
made
part
of
any
publicly
subsidized
endeavor.
C
Finally,
the
build-out
plan
indicates
that
the
development
will
largely
compete
against
other
local
industrial
parks,
possibly
just
relocating
tenants
from
existing
facilities
without
creating
significant
new
jobs.
The
majority
of
buildings
being
proposed
are
in
the
size
range
of
many
existing
industrial
parks.
C
We
are
told
at
a
public
meeting
that
the
goal
was
to
capture
and
develop
a
new
market
of
larger
buildings
that
were
not
currently
available
in
laredo,
but
that
does
not
seem
to
be
the
case
as
well.
We
see
no
pro
forma
for
the
development,
but
do
note
a
take
off
forty
dollars,
psf
rate
for
tax
value.
Again,
we
urge
the
city
of
loreto,
develop
a
transparent,
fair
and
equitable
tax
incentive
development
policy
prior
to
the
adoption
of
this
or
any
other
tur's
ordinance,
and
we
asked
edac
to
stand
firm
in
making
this
recommendation.
C
Such
a
policy
would
ensure
that
the
current
proponent
and
any
others
would
be
required
to
develop
with
a
level
playing
field
and
would
ensure
that
the
taxpayers
interests
are
safeguarded
when
amounts
like
83
million
in
taxpayers,
are
being
committed
30
years
into
the
future.
Thank
you
for
your
good
work.
This
concludes
the
public
comment.
B
D
Chairman
no,
mr
chairman,
thank
you.
Let
the
record
reflect
also
that
mr
john
villarreal
is
now
president
in
the
in
the
roll
call
arnold,
if
you
can
record
that
please.
Thank
you,
john
good,
to
see
you
yes,
sir
okay.
So
before
I
start,
let
me
say
hello
to
everyone
again.
Welcome
thanks,
thanks
for
being
here
to
to
discuss
this
this
project,
and
I
just
want
to
recognize
a
couple
of
folks
that
are
with
us
as
well
from
majestic
realty.
D
D
D
I'd
like
to
ask
when
I
go
to
these
presentations,
if
you,
if
you
just
try
and
hold
your
questions,
so
let
me
get
through
them.
I
promise
they
won't
be
long
and
definitely
can
can
answer
your
your
questions
afterwards.
So
let
me
go
ahead
and
share.
If
I
can
get
to
my
little
share
box
here
and
also
committee
members,
I
will
I
and
arnold
will
send
you
these
these
presentations,
so
so
you
can
have
you
know
after
after
I
go
through
them.
D
D
So
this
is
what
I'm
calling
the
project
narrative,
and
this
is
going
to
kind
of
give
you
some
information,
I'm
just
going
to
read
through
this
briefly,
but
maybe
you
can
look
at
the
at
the
page
here,
while
I'm
when
I'm
reading
it
again.
This
is
a
tour's
location,
exactly
the
terrace
is
comprised
of
about
1900
acres
located
in
far
north
laredo
next
to
the
unit
unitec.
D
Well,
I'll
read
this:
it's
approximately
bounded
by
the
west
by
unitec
industrial
park
and
then
to
the
south
by
killing
range
properties
which
you'll
see
here,
where
I'm
circling
and
then
and
then
several
small
private
landowners
to
the
east
and
the
north
here
of
this
property.
If
you
can
look
at
this
one,
it's
the
same
thing,
killing
range
here,
unit
tag
here
and
all
the
three
here,
small,
smaller
tracks
of
properties,
and
then
it
connects
to
here
this
little
where
it
juts
out.
D
The
exist
existing
uses
and
conditions
at
this
time,
the
1914
acres
comprising
for
grundy,
are
potential
development
land
and
is
considered
to
be
predominantly
open
or
undeveloped.
In
accordance
with
section
311-05
of
the
texas
tax
code.
The
this
chapter
of
the
code
is
what
is
used
statewide
to
create
tourist
districts,
that
entire
chapter,
not
just
that
little
section,
but
the
chapter
gives
a
lot
of
background
on
on
that
the
site
plan,
as
you
can.
This
is
coming
into
vision
here.
D
Phase
one
is
already
built,
which
is
here:
that's
phase
one
and
then
phase
seven
here
is
shown
because
the
land
for
that
phase
is
located
in
the
turrets.
But
funding
for
phase
seven
is
not
included
in
the
terrors,
but
it
could
be
part
of
the
development
at
a
later
date.
And
if
you
know
that's
what
majestic
decides
to
do,
I
mean
I
want
to
hold
it
there,
so
you
can
look
at
it
for
a
minute,
but
I
said:
you're
gonna,
you're
gonna
get
this
sent
to
you
immediately
after
the
meeting.
D
Yeah,
mr
garcia,
the
providing
it
to
us,
the
supporting
documentation
after
the
meeting
has
concluded,
is
not
as
effective
as
providing
it
to
us
in
advance
and
maybe
I'm
just
a
little
too
spoiled
or
have
common
sense
and
courtesy.
But
as
a
former
council
member,
you
know,
we
would
get
the
friday
packet
in
advance
of
the
of
the
meeting
itself
so
that
we
had
the
background
information
so
that
when
staff
would
make
presentations
to
us,
we
could
at
least
formulate
intelligent
questions.
D
And
so
I
I
would.
I
would
like
to
just
propose
a
motion
that,
from
this
point
forward,
we
adopt
as
a
policy
that,
as
it
relates
to
all
presentations
by
staff
regarding
anything
that
we
provided
the
materials
in
advance
so
that
we
can
effectively
represent
our
council
members
and
the
city.
And
these
hearings.
That's
my
emotion.
That's.
D
In
response
to
that
a
couple
things
I
think
to
in
response
to
mr
garcia,
I
think
then,
what
I'd
like
to
do
I'll,
walk
that
motion
back,
but
I'd
like
an
agenda
item
placed
on
the
next
council
meeting
for
us
to
essentially
adopt
a
policy
that
says
that
you
know.
Let's,
let's
make
our
you
know.
Our
time
is
valuable
too,
and
so
in
response
to
mr
benavidez,
you
know
like
the
citizens,
environmental
advisory
committee.
D
D
B
Well,
I'll,
just
chime
in
and
say
mr
algo,
your
point
is
well
taken.
I
think
that
our
economic
development
department
can
definitely
accomplish
that.
So,
if,
if
possible,
mr
gregor
garcia
and
mr
lozano,
could
we
reference
that
comment
and
for
future
notice
send
presentations
beforehand?
So
the
committee
is
also
well
informed
and
can
function
as
to
the
best
of
their
ability
and
advisory
committee
level.
Go
ahead,
mr
garcia,
the
floor
is
yours.
B
D
You,
mr
chairman,
so
there's
there's
that
phase
as
I
mentioned,
or
pardoning
the
all
the
phases
in
this
in
this
photo.
If
I,
if
I
can
just
read
through
this
project
narrative
as
the
international
trade
logistics
industry,
industries,
continue
to
increase,
deliberate,
deliberate
efforts
to
provide
considerable
warehouse
and
distribution
center
capacity
and
quickly
given
market
demands
will
continue
to
be
at
the
forefront
of
of
economic
development
efforts.
D
The
the
proposed
14
million
square
feet
project
will
offer
many
outsized
buildings
to
a
market
where
there
are
a
few
and
where
these
are
few
and
far
between
and
where
the
warehouse
vacancy
rate
is
about
one
to
three
percent.
Currently,
additional
newer,
larger
buildings
will
allow
the
rare
to
compete
with
port
piers,
meaning,
like
other
large
ports,
that
we
compete
with,
such
as
a
port
of
houston
or
dfw,
and
for
projects
large
projects
that
would
bring
investment
and
jobs
to
the
region.
D
The
proposed
and
public
improvements.
The
total
development
costs
for
the
entire
for
grinder
project
are
estimated
to
be
about
855
million.
It
was
closer
to
a
billion
with
phase
seven,
but
but
this
is
what
we
have
for
phases:
two
and
phases
two
through
six,
with
the
maximum
eligible
reimbursement
from
the
tours
of
83
million
or
83.32
million
for
public
infrastructure,
so
that
that's
what
that's?
What
the
the
the
55
45
split,
the
55
is
gonna
allow
83
million
dollars,
that's
in
the
terms
to
be
used
for
public
infrastructure.
D
The
other
funding
which
I'll
explain
a
minute
would
go
to
the
we'll
go
to
the
city.
Examples
of
proposed
improvements,
public
improvements.
Rather
you
know
the
public
infrastructure,
water
and
sewer
infrastructure,
industrial-grade
streets,
concrete
intersections
on
these
streets
because
of
the
industrial
use,
sidewalks
street
lamps
traffic
signals
and
signage
and
other
other
things
as
well.
No
funds
are
applied.
None
of
these
funds
in
the
tours
can
be
applied
to
majestic
owned
improvements
like
on
their
buildings
right
or
their.
You
know
their
properties.
D
The
also
this
project
will
bring
some
positive
impacts
to
to
the
local
school
district
and
and
elsie,
for
instance,
for
grande
at
full
development
right
at
the
third
of
your
life
they're,
going
to
bring
in
about
projected
about
173
million
dollars
to
the
united
isd
and
about
47
million
to
laredo
college
over
that
time.
So
that's
another
thing
that
that
would
be
involved
in
this
in
this
project.
D
So
again,
the
funding
amount
is
855.
That's
the
entire
project,
all
the
buildings,
everything
that
would
be
included
in
there,
the
public
infrastructure
again
our
contribution-
and
this
is
based
on
the
county
participating
as
well,
which
they
and
I
don't
want
to
speak
from.
I
I
don't
believe
they've
committed
to
the
project
yet,
but
us
together,
the
the
the
public
infrastructure
improvements
will
be
83
million
dollars,
for
you
know
for
phases,
two
through
six,
all
amounts
for
other
expensive.
You
know
expense
line
items
within
the
public
improvement.
D
Reimbursement
of
83
million
are
considered
estimates.
You
know
anticipated
expenditures
and
do
not
act
as
a
limitation
to
the
to
the
items
described,
but
the
developer
will
receive
that.
The
max
is
83
million
that
unless
you
know
a
board
changes
something
that
is
that's
the
hard
number
for
what
they
would
receive.
If
the
city
and
the
county
participated
in
this
thing,
and
only
for
public
infrastructure.
E
A
D
The
city
of
laredo
will
what
are
the
cost
of
service?
Well
I'll?
Get
to
that?
Okay,
the
the
city
of
laredo
will
receive
an
estimated
16.94
million
dollars
from
sales
tax
and
other
ancillary
revenues
such
as
permitting
and
fees
and
things
of
that
nature.
And
then
our
total,
for
this
is
for
revenue
from
this
project
is,
is
49.17
million,
I
mean
a
lot
of
people
will
say
well.
This
is
revenue
also
there's
9
million
for
interest
and
sinking,
and
that
is
true.
D
You
know,
such
as
when
we
take
over
the
streets
after
the
development
deeds
them
to
the
city,
sue
other
things
in
in
the
future
and
among
other
expenses
over
that
30-year
period.
Right
and
that's
and
like
I
mentioned
that's
fire
protection
law
enforcement,
ambulance,
services,
the
public
infrastructure
and
other
things
just
want
to
repeat
that
those
are
the
expenses.
Mr
oglett,
I
think
you
just
asked
me.
D
Those
are
those
are
the
major
ones
that
will
will
come
across
over
a
30-year
period,
and
that
estimate
the
projected
expenses
would
be
an
estimated
48.1
million
dollars
and
that's
going
to
be
paid
from
the
the
the
increment
or
the
city
is
going
to
shell
that
out
of
pocket
during
the
30-year
term
it
will
get
paid.
I
mean
okay.
George
remember
I
mentioned
to
you
like
this.
G
D
D
But
yes
yeah,
you
know,
he's
he's
really
good
and-
and
I
know
he
majestic's
on
the
line
and
he
made
majestic
work
a
little
bit
extra,
which
was
good
for
me
and
I
kind
of
felt
bad
for
them,
but
but
he
was,
he
was
a
real
bulldog
now.
The
last
thing
on
this
presentation
is
the
term.
The
city
of
laredo's
tax,
increment
reinvestment
zone-
number
three
port
grande,
is
proposed
to
the
introduction
is
being
proposed
through
introductory
ordinance
next
week
at
city
council.
D
D
After
the
the
the
introductory
ordinance
is,
is
considered
and
let's
just
say
it
was
approved
from
the
by
the
city
council-
I'm
not
assuming
it
is
I'm
just
saying.
If
it
was,
then
there
will
be
there's
still
going
to
be
two
public
hearings
and
david.
Can
I
get
you
to
come
in
and
explain
that
little
process
at
the
end
on
why
those
are
before
and
after
I
think
there
was
a
question
beforehand.
H
Yes,
when
you're
creating
a
this,
is
david
pettit
with
david
pettit
economic
development,
I've
been
doing
tips
in
the
state
of
texas
for
25
years,
work
for
a
number
of
cities,
just
on
the
phone
with
el
paso.
I've
worked
on
about
five
or
six
tips
with
them
and
also
have
on
the
line
natalie
moore
who's
in
my
office,
who
just
recently
joined
us.
H
One
is
an
introductory
reading
in
the
second
is
where
we
would
have
the
public
hearing,
so
the
second
reading
would
be
a
a
public
hearing
on
the
creation,
ordinance
and
hearing
all
comments,
a
closing
of
that
public
hearing
and
then
a
vote
on
that
public
on
that
creation
ordinance.
So
at
that
time,
that
would
be
effective.
H
This
is
how
we're
going
to
spend
this
money,
and
then
the
next
step
is
to
actually
have
a
development
agreement
with
the
developer,
where
you
have
benchmarks
and
requirements.
So
the
developer
has
to
expend
x
amount
and
with
that
has
x
amount
of
public
infrastructure,
and
the
way
that
we
have
discussed
this
for
many
years
now,
teclo
is
that
this
would
not
be
front
end
loaded.
That
majestic
would
be
making
all
the
public
improvements
that
are
required
by
the
city
and
would
just
be
reimbursed
from
the
increment
produced
within
those
terms.
D
You'll
see
on
the
everyone
you'll
see
on
the
next
short
presentation
that
I
have
when
you
see
the
numbers
that
you
know
like
most
tourists
or
like
alters,
is
you
know
you
don't
build
valuation
up
right
away
and
and
tax
advertising
taxes?
Don't
come
to
you.
You
know
really
the
first
10
years,
you
you
get
a
scant
amount,
so,
whether
it's
majestic
or
any
other
company
doesn't
matter
or
developer,
they
are
putting
their
money
up
front.
Thank
you,
david
for
pointing
it
out
and
they're
doing
a
public
infrastructure.
D
H
E
D
And
and
julian
to
add
to
that
this
tuesday
we
have
to
introduce
the
ordinance,
but
the
council
has
to
introduce
the
ordinance
right
and
and
that's
not
that's
not
adoption
of
the
ordinance.
As
david
says,
then.
There's
public
hearings
and,
and
then
the
adoption
at
the
end
of
whether
the
city
council
will
do
that.
Is
that
correct
david.
H
D
I
Happy
too
thanks,
tucklo
good
afternoon
everybody,
I'm
tom
simmons,
I'm
here
in
los
angeles,
at
majestic's
corporate
headquarters
kind
of
30
second
elevator
speech
majestic,
is
a
family-run
and
operated
industrial
developer
nationwide.
From
you
know,
coast
to
coast,
we've
been
in
business
since
1948.
I
We
are
a
kind
of
vertically
integrated
platform
with
development,
construction,
property
management.
You
know
we
get
involved
in
investments
from
industrial
to
office,
retail
hospitality,
entertainment
as
well.
We've
been
investing
in
laredo
for
about
20
years.
To
date,
we
have
about
two
million
square
feet
of
industrial
space.
I
I
We
instead
lease
that
real
estate
and
as
a
result,
have
developed
a
portfolio
of
about
about
87
million
feet
throughout
the
united
states
over
our
operating
history
and
have
a
you
know:
great
tenant,
roster
of
a
lot
of
fortune,
500
companies
and
a
lot
of
small
local
companies
and
we've
been
excited
to
be
spending
the
last
several
years.
You
know
on
this
particular
project.
I
Many
of
you
might
know
this
was
originally
the
uni
royal,
proving
grounds
we
actually
acquired
it
from
a
subsidiary
of
mercedes-benz
and
it
had
been.
You
know,
used
as
a
kind
of
a
private
test
track
for
50
years,
or
something
like
that:
mercedes
divested
of
the
property
and
through
a
relationship
we
have
with
them.
I
Not
in
the
same
fashion,
no
so
you
know
my
previous
point
about
working
in
different
markets.
These
are
the
types
of
instruments.
The
whole
alphabet
soup
is,
I'm
sure
you
know
of
different
types
of
public-private
partnerships,
whether
it's
tiff
or
kurz,
or
mud
or
pid,
or
all
those
types
of
things.
But
you
know
when
there's
heavy
infrastructure
involved
and
with
a
company
like
majestic
it's
basically,
the
you
know,
these
types
of
instruments
are
things
that
we
will.
I
You
know
go
through
in
long-term
master
planning
and,
with
you
know,
kind
of
the
dearth
of
industrial
product
that
you
know
state-of-the-art
industrial
product.
That
laredo
has
you
know
the
opportunity
here
with
this
type
of
partnership
can
really
turn
this
region.
We
feel
into
something
pretty
meaningful.
D
I
D
D
I
I
can't
speak
for
the
mpos
plans,
but
I
can
let
you
know
that
you
know
the
infrastructure
that
we've
identified
in
our
discussions
with
with
staff
is
more
specifically,
the
the
property
in
question
does
not
have
infrastructure.
So
in
order
to
build
it
out,
it
will
obviously
need
significant
infrastructure
that
becomes
public
infrastructure
in
the
case
of
water
systems,
sewer
systems
roadway
infrastructure,
things
of
that
nature,
typically
in
the
in
the
development
world.
In
most
instances,
if
you
acquired
a
property,
it
would
usually
be
you
know,
adjacent
to
existing
infrastructure.
I
D
So
george,
if
I
can
help
you
too
also
to
answer
help
answer
that
question
a
little
on
the
north
side.
You'll
see
this
property
that
juts
out
that
was
included
in
the
ters,
so
it
could.
You
know
it
could
receive
public
infrastructure
funds
to
reach
this.
The
other
side
of
this
chart
road,
and
I
think
that
intersection
you're
talking
about,
although
I
do
not
know
how
it
you
know,
I
didn't.
D
I
have
not
been
to
npl
meeting
so
I
don't
know
exactly
who's
funding,
whether
it's
tax
died
or
mpo,
but
that
that
would
be
about
right
here.
I
think
so
ruthless
would
go
this
way
and
then
this
would
be
connected
to
this
road
and
then
our
city
property
is
over
here
somewhere.
I
think
you
probably
know
better
than
I
george
further
yeah,
so
it
would
be
this.
We
would
at
least
connect
to
this
part
right
here.
Actually,
ruthinger
is
this.
Is
mile
marker,
13
ruthinger
comes
in
at
around
a
mile
mark
or
18
or
16.?
D
No,
I
think
it
goes
up
as
it
goes
a
little
further
up,
yeah
yeah
now
so
techno
with
regard
to
the
ruthinger,
I'm
sorry,
the
hachar
property
across
from
mile
marker
13
over
here
yeah
did
the
city
provide
to
them
any
resources
to
accelerate
that
development
there?
Yes,
yes,
I
know
they've.
I
know
we've
contributed
in
a
380
economic
development
agreement
funding
for
the
road.
Specifically,
I
forget
the
amount
I'd
have
to
look
but
george,
I
I
know
this.
It
was
done
you're
talking
about
the
hachara
parkway.
D
This
is
beltway
the
road
that
we're
seeing
there
at
mile
marker
13..
I
was
wondering
if
we
helped
him
out
there
on
on
beltway
with
any
publicly
I'd
have
to
I'd,
have
to
look.
I
know
we
did.
We
did
do
a
deal,
but
I
just
don't
know
right
now
and
then
my
other
question,
mr
simmons.
Okay.
So
if,
if
we
excel,
you
know
give
a
hand
and
and
accelerate
the
development
here
as
what
I
used
to
be
an
npo
commissioner,
not
too
long
ago.
D
What
I
do
know
about
that,
the
you
know
text.mpo
programming,
you
know.
All
of
that
is,
like
you
know,
three
five
ten-year
projections
it
looks
like
this
development
is
going
to
have
to
make
do
with
that
mile
marker
13
exchange,
when,
when
you
bring
2
000
acres
online,
how
do
you
plan
on
on
getting
your
customers
efficiently
in
and
out
of
that
current,
very,
I
think
it's
rated.
I
think
the
intersection
is
rated
f
by
tx
dot.
I
You
know,
interestingly
enough,
when
we
acquired
the
property,
the
only
entry
point
into
the
entire
2000
acres
was
on
uniroyal
and
through
some
negotiations
with
some
neighbors,
we
acquired
access
on
carriers
and
then,
through
some
negotiations
with
another
neighbor,
we
have
the
access
that
teclo
pointed
out
on
the
north.
That
will
be
another
reliever,
we've
obviously
been
working
with
traffic
on
the
long
term
plans
the
traffic
department,
mr
danny
mcgee,
understanding
the
city's
long-term
plans,
whether
that's
outer
loop
or
otherwise.
I
D
On
with
the
beginning
of
the
conversation,
okay,
thank
you
appreciate
it
so
again.
Here's
the
this
particular
document
is
the
preliminary
project
and
finance
financing
plan
that
will
go
to
the
city
council,
and
this
is
what
the
for
the
basis
of
the
of
the
of
the
agreement
here
that
will
have
public
hearings
and
and
so
forth.
But
let's
just
go
through
this.
This
is.
H
H
This
plan
is
approved
by
separate
ordinance
through
city
council,
so
getting
a
little
bit
of
the
weeds,
but
we
always
like
to
call
it
the
texas
two-step
step
one.
Is
you
have
a
creation
ordinance
with
the
preliminary
plan?
That's
what
this
is.
It's
the
fifth
element
of
the
creation,
ordinance
and
step
number
two
is:
the
tif
board
recommends
the
final
plan,
that's
approved
by
ordnance.
D
Okay,
thank
you,
david
appreciate
that
so
again,
here's
the
property
that
we
we
talked
about.
There's
some
background
for
those
of
you
who
don't
know
enough
about
laredo.
You
can
read
that
later.
So
again,
the
the
this
is
the
the
introduction
on
this
preliminary
plan.
Again,
there's
a
property
you've
seen
that
I
showed
you
in
this
slide,
there's
laredo
and
here's
the
property
related
to
that
here's,
the
boundary
description
again,
the
technical
description
of
this
of
the
boundary.
D
D
H
And
tech,
and
just
because
I've
go
through
these
all
the
time
on
these
project
and
financing
plans,
we
are
required
by
statute
as
you'll
see
here
on
the
left.
These
are
statutory
requirements
defined
in
the
plan.
What's
the
current
land
use?
What's
the
current
zoning?
Are
people
going
to
be?
You
know,
displaced,
obviously
not
because
it's
texas
scrub
and
then
the
current
ownership
and
the
current
tax
value?
So
the
current
tax
value
of
this
property
right
now
is
5.3
million
dollars.
D
H
A
D
H
Yes,
and
so
what
we
did
was
when
we
looked
at
everything
in
in
our
world,
from
putting
together
a
project
and
financing
plan,
we
don't
care
what
the
developer
spends.
We
care
what
the
taxable
value
is
going
to
be
on
the
ground
and-
and
we
determined
that
forty
dollars
a
foot,
was
appropriate
for
new
taxable
value
and
the
developer
plans
on
coming
to
the
tif
board
and,
as
natalie
has
so
eloquently
said
in
the
past,
the
tiff
kind
of
creates
a
pie
in
each
development.
H
A
H
So
the
30
million
phase
one
is
kind
of
excluded,
so
phase
one
is
not
part
of
the
tiff,
but
we
anticipate
that
the
developer
is
will
be
moving
forward
and
tom
and
kyle
can
and
mention
this.
But
you
know:
you're,
looking
in
175,
200
million
dollar
range
for
phase
one
and
the
necessary
infrastructure
for
that,
and
then,
depending
upon
the
market,
how
this
is
going
to
come
on
to
fruition,
and
so
we
have
a
full
build
out
of
all
seven
phases
with
a
30-year
period.
H
Teklo
mentioned
something:
we've
included,
phase
seven,
but
is
part
of
the
boundary,
but
we
did
not
include
phase
seven
as
a
part
of
the
projections,
so
this
could
be
much
larger
than
what
we're
projecting
now.
But
when
you
just
kind
of
look
in
a
crystal
ball,
it's
kind
of
hard
to
look
that
hard
in
the
future.
So
what
we
always
like
to
say
is
you
need
to
walk
before
you?
H
When
these
projects
come
on
line,
you
can
see
all
the
different
buildings
and
all
the
different
phases
how
they
come
online
impacts,
the
overall
revenue.
Now
I
do
want
to
make
the
the
point
that
this
is
kind
of
there's,
there's
really
three
ways
that
you
can
fund
a
tiff,
we're
doing
the
most
conservative
way,
which
is
eat
what
you
kill.
H
The
third
way
which
a
lot
of
cities
are
doing,
we
don't
recommend
it
is
their
bonding
on
this
future
revenue
that
gets
into
a
lot
of
tricky
situations,
and
that
is
not
what
we're
recommending
here.
So
it's
performance
based
if
the
developer
goes
vertical
and
pays
taxes,
so
you'll
hear
me
say
a
couple
of
these
things,
so
it's
a
55-45
split.
D
Mr
chairman,
if
you
allow
me
I'd
like
to
I'd
like
to
bring
in
kyle
valley
from
from
majestic
here
and
talk
about
just
to
give
the
the
committee
an
example
of
of
how
phase
two
would
develop
and
what
kind
of
prospects
they
have
and
how
fast
phase
two
would
go,
you
know
in
their
minds.
Kyle
welcome,
kyle.
J
J
J
Six
is
an
owner-user
building,
meaning
it's
not
out
or
available
for
lease
out
in
the
marketplace,
so
the
size
and
the
scope
of
the
buildings
that
we
produce
allow
for
a
different
size
tenant
to
operate
in
the
market,
and
that
was
exactly
what
phase
one
was
meant
to
do
was
trying
to
cure
and
solve
for
what
that
need
might
be.
Is
there
a
meaning
and
part
part
to
george's,
very
appropriate
comment
earlier?
J
Is
this
only
something
where
users
are
moving
amongst
buildings
within
a
market,
or
is
this
development
actually
attracting
new
business
to
the
market
and
with
phase
one?
All
of
the
tenants
that
took
occupancy
in
that
phase
was
new
accounts
and
new
tenants
and
new
users
into
the
market,
so
true,
100
natural
growth?
J
J
You
know
we
view
ourselves
as
a
local
developer.
We've
been
in
the
market
since
the
late
90s,
but
we
do
have
a
national
presence
and
an
institutional
level
quality
to
us,
but
tackle
your
question
specifically
was:
what
can
we
expect
in
terms
of
timing
for
phase
two
it
as
the
market
sits
today
and
as
our
underwriting
sets
as
we're
formulating
all
of
our
civil
plans?
In
the
background,
if
we
find
a
way
to
get
to
terms
with
the
city
and
the
county,
we
plan
on
rolling
out
phase
two
immediately.
J
The
types
of
users
that
can
commit
to
build
to
suits
are
groups
that
can
wait
and
plan
18
to
24
months.
Out
percent
of
the
deals
done
in
the
united
states
and
major
metros
are
based
on
speculative
product
and
existing
product,
not
build
a
suits,
so
it
it.
It's
very
easy
for
a
developer
to
sit
back
and
be
passive
as
they
build
a
suit
developer.
J
When
they're
able
to
consolidate
amongst
buildings,
the
one
trouble
for
many
users
in
the
past
and
one
thing:
that's
really
stalled.
The
lower
end
size
range
of
laredo
is
you:
don't
have
users
being
able
to
consolidate
and
then
allow
smaller
users
to
be
able
to
either
enter
the
market
or
facilitate
growth,
because
that
small
size
range
in
the
market
just
does
not
exist.
These
large
users,
if
someone
needs
400,
000
square
feet
of
space,
for
example,
there
is
no
product
available
for
that
user
to
to
go
into
right
now,
it
doesn't
exist.
J
So
what
we're
aiming
to
do
is
alleviate
that
demand
and
when
you
see
vacancy
in
a
market
of
less
than
one
percent,
there
is
a
complete
disproportionate
market
force
on
that
supply
and
demand
figure.
So
part
of
what
we're
trying
to
do
is
alleviate
that.
But
phase
two
is
something
that
we
have
planned
to
put
in
put
into
production
immediately.
J
D
D
D
Like
a
like,
a
million
square
footage
deficiency
like
you
could
build,
you
know
a
warehouse
and
overnight
it
would
be
an
instant
success
right
and
so
historically
in
in
district
7
across
the
highway
there,
the
that
that
I
represented
you
know
a
few
months
ago
in
that
district
there
from
time
to
time
somebody
would
come
by
and
say
hey.
You
know
we
want
a
chapter
380.
We
want
to.
D
You
know
the
city
to
give
us
a
hand,
and
it
had
always
been
the
city's
position
that
it
wasn't
necessary
because
of
the
supply
being
so
low
and
the
demand
being
so
high
that
certainly
it
would
be
an
overnight
success.
You
know,
go
with
god
build
your
your
warehouse.
How?
How
is
this
different?
From
that?
I
understand
the
warehouses
are
bigger,
but
I
also
understand
that,
because
of
economies
of
scale
in
many
respects,
it's
it's,
it's
more
cost
effective
to
build
bigger
than
it
is
to
build.
You
know
these.
D
J
Yeah
sure
so,
you're
you're,
hitting
on
two
great
points
and
I'll
address
the
first
one
and
that's
the
first
one
first
or
your
former
first,
and
that
has
to
do
with.
Why
is
it
difficult
to
deliver
certain
product
into
a
market?
If
this
was
an
established
market
and
I'll
use?
The
term
capital
markets
established
market,
meaning
lending
institutions
were
comfortable
coming
into
this
market?
There
was
a
constant,
buy,
sell
and
trade
comp
basis
to
be
able
to
look
off
of
an
appraisal
district
that
had
active.
J
Let's
say
that
that
same
local
bank
typically
can't
can't
finance
a
40
million
dollar
construction
loan
so
that
the
risk
profile
is
just
much
different
and
then
what
one
thing
I
would
implore
everyone
on
this
call
to
do,
and
some
of
you,
I
know,
have
been
through
our
buildings,
but
please
drive
up
to
port
grande
when
you
exit
carriers
drive
and
you
get
through
unitec
and
you
enter
into
port
grande.
You
will
see
the
features
and
the
measures
that
we've
endeavored
to
keep
into
our
park,
which
are
costly.
J
J
But
but
the
gap
is
something
that
we
went
through
a
tremendous
amount
of
back
and
forth
and
analysis
with
the
with
with
the
city
and
with
teclo
and
the
group,
and
that's
why
this
public-private
partnership
is
absolutely
required
for
us
to
maintain
the
type
of
project
that
we're
endeavoring
to
pursue
and
develop
into
this
community.
Can.
G
I
ask
a
quick
question
to
tecla:
go
ahead
thanks.
So
first
I'd
actually
like
to
say
what
kyle
pointed
out
is:
I'm
actually
a
commercial
real
estate
broker
by
trade,
and
I'd
like
to
say
that
kyle
is
right
in
the
fact
that,
at
least
with
a
lot
of
my
clients
that
I've
worked
with
one
of
one
of
the
biggest
issues?
Is
that
essentially,
there's
really
no
warehouse
out
there
and
everything
is
built
to
suit?
G
That
is
true.
That
being
said,
though,
I
do
have
a
question
for
teclo
on.
Is
there
any
performance
metric
that
that
would
require
majestic
to,
because
I
understand
they're
saying
what
what
this
turs
is
going
to?
Allow
them
to
do
is
build
spec
warehouses,
but
is
there
anything
to
prevent
them
from
taking
that
typical
business
model
of
a
lot
of
developers
in
laredo
and
basically
just
going
back
to
build
a
suit
or
is
there
something
that
requires
them
to
build
some
spec
out
in
order
for
it
to
qualify
for
the
tours.
D
H
Yeah-
and
I
feel
like
we'll-
have
a
little
bit
of
a
a
football
here
that
that's
that's
really
a
a
market
question.
I
think
once
kyle
as
he's
kind
of
articulated
they've
kind
of
established
the
market,
there
could
be
circumstances
to
where
you
do
have
build
the
suits,
and
so
I'm
not
meaning
to
take
the
hot
potato
and
hand
it
off
to
kyle.
But
kyle
can.
Can
you
provide
a
little
bit
of
input
to
that
because
you're
certainly
not
going
to
turn
down
build
the
suits
in
your
project?
J
Sorry,
I'm
just
muted.
I
I
think
that
the
heart
of
julian's
question
is:
if
you
get
this,
why
not
just
sit
back,
and
now
you
have
a
a
better
way
to
to
sit
back
and
do
what
everyone
else
is
doing.
I
I,
if
you
look
at
us
across
the
company,
we
have
eight
million
square
feet
under
construction.
I
I
would
endeavor
to
guess
that
less
than
a
million
of
that
is
actually
a
quote-unquote
build-a-suit
by
trading
by
the
nature
of
our
company.
J
We
are
speculative
developers
and
I
I
would
say
that
you
just
you're
having
comfort
in
who
you're
dealing
with,
but
also
yes,
there's
absolutely
measures
that
prevent
us
from
obtaining
any
benefit.
If
we
do
not
construct
or
develop,
one
is
just
purely
by
nature
of
the
way
the
agreement
is
set.
The
city
is
not
stroking
a
check
for
us
to
then
go
make
the
investment
into
infrastructure.
J
We
are
only
receiving
a
a
a
a
a
rebate
on
those
taxes,
a
reimbursement.
If
we
have
made
that
investment
and
if
we
have
constructed
anything
worth
of
value
that
then
it
gets
reimbursed,
I
so
so.
The
incentive
within
the
structure
is
kind
of
inherent,
but
then
also
just
by
way
of
who
we
are
and
what
our
history
is
and
what
our
track
record
is
currently
and
in
the
past.
G
I
know
I
I
understand
that,
but
I'm
the
question
still
remains,
so
there
isn't
anything
that
that
basically
focuses
on
and
and
because
that
that
is
a
concern
you
know
I.
I
understand
that
argument
that
we
need
more
spec
warehouses
and
this
ters
is
going
to
get
us
that,
but
is
there
anything
within
the
tours
agreement
that
exists,
that
mandates
it
or
or
stipulates
a
certain
percentage
minimum
that
would
be
developed.
D
Well,
I
know
I
don't
think
so
and
correct
me
for
wrong
david,
that
that
that
would
or
would
not
be
in
the
final
development
agreement.
You
know
for
phase
two
or
for
phase
three
or
four
or
five,
but
but
julian
you,
you
bring
up
a
good
point,
and-
and
I
and
I
hear
what
kyle
is
saying
I
would
I
would
it
would
be
difficult
for
me
to
try.
D
At
least
this
is,
from
my
end,
to
try
to
negotiate
that
in
or
push
that
into
a
particular
part
of
agreement,
because
it
what
happens
if
the
market
changes
for
a
particular
phase.
Right
I
mean
I
don't
want
to.
I
don't
want
to
hamstring
that
developer
from
doing
that,
you
know
and
and
tell
him
how
to
run
his
business
in
a
in
such
a
specific
way.
D
You
know
we
we've
worked
at
least
since
I've
been
here
about
eight
months
on
this
on
this
project
and
and
given,
as
kyle,
said,
the
history
of
it.
You
know
some
of
these
negotiations.
We
we
have
to
believe
in
each
other.
In
addition
to
having
you
know
the
agreements
with
inc
and
signed-
and
this
is-
and
this
is
part
of
their
business
model-
we
see
it
here-
we
see
it
in
phoenix
and
in
la
and
they're
a
strong
spec
builder.
D
So
so
that's
what
we're
that's
what
we're
going
with
here
I
mean
I,
I
understand,
that's
a
concern
for
you.
I
just
you
know
it's
difficult
for
me
to
tell
majestic
how
to
run
their
business.
Exactly
to
that
point
would
be
my
would
be
my
answer
to
you
and
unless
there's
something
else
david
that
I'm
not
aware
about
in
india,
I
think.
H
You're
spot
on
tech.
Look
it's
final
degree.
I
don't
even
know
how
you
would
structure
such
an
agreement
because
it
would
be
so
punitive
if
there
was
somebody,
because
I
think
you
have
to
know
that
you
know
majestic
is
the
largest
privately
held
industrial
developer
in
the
united
states
and,
as
colleges
said,
they
have
eight
million
under
construction.
Now,
only
one
million
is
leased,
so
they
make
their
money
on
doing
spec,
building
development.
B
H
D
J
Amazon
is
one
of
the
largest
tenants
in
the
united
states.
If
not,
is
the
largest
tenant
in
the
united
states,
but
yes,
they're
they're.
They
occupy
about
six
million
square
feet
with
us
and
walmart
we're
the
largest
landlord
with
the
the
seven
e,
the
seven
first
e-commerce
fulfillment
centers
that
they
put
up
in
the
us
each
of
those
being
about
1.45
million
square
feet
and
that
we
we
are
their
their
their
main
landlord
for
the
e-commerce
facilities.
J
D
Mr
dominguez
amendment
make
a
point
here,
and
mr
chairman,
can
I
make
a
point
here
on
mr
dominguez's
question
is
that
you
know
this
is
another
value
that
that
the
company
with
the
stature
like
majestic,
brings
to
to
laredo.
We
have
a,
we
have
about
13
fortune,
500
companies
operated
in
laredo
right,
and
so
each
one
of
them
has
clients.
You
know
across
the
country
majestic
is
is,
is
no
different.
D
D
D
G
Know
pardon
me
when
the
split
happens,
because
this
is
all
based
off
when
they
build
versus
when
they
don't
help.
So
when
they
build,
if
they're,
building
and
what's
happening
is
all
they're
doing
is
taking
a
tenant
from
an
existing
industrial
building,
laredo
and
moving
them
over.
Is
there
anything
that
qualifies
what
I've
heard
being
touted?
Is
you
know
we'll
be
able
to
bring
all
these
new
jobs
and
new
companies?
Well?
Is
there
something
that
differentiates
a
new
job
or
actually
new
companies
versus
just
relocations.
D
D
D
D
Why
but
we
don't
want
to
create-
and
we
want
to
incentivize
this
project,
but
without
creating
an
uneven
playing
field
because
a
lot
of
the
public,
who
is
it
uneven
for
so?
For
that
you
know,
let's
just
say
the
neighbor
next
door
wants
to.
You
know
build
out.
You
know
2
000
acres,
but
but
you
know
he
doesn't
necessarily
do
you
know
go
through
the
the
tours
avenue
and
as
as
a
as
a
consequence,
you
know
he
it's
gonna
be
difficult.
D
Warehouse
that
has
a
only
45
of
that
tax
base
is
actually
going
to
the
city.
So
right
there's
where
we
need
to
be
careful.
I
mean,
assuming
I
understand
this
this
this
correctly,
I'm
just
a
little
country
lawyer
from
zapata
county,
but
this
does
you
know
this
does
sound
like
kind
of
the
call
of
the
question.
Well,
you
can't
just
claim
zapata.
John
villarreal
is
also
on
this
call,
george,
so
you're,
not
the
only
country
boy
from
zapata
here.
D
I
mean
there's
a
lot
of
what-ifs
involved
in
in
some
of
these
arguments,
but
I'm
concerned
about
local.
You
know
warehouse
owners
and
I
mean-
and
I
hate
to
say
even
local,
because
majestic's
been
here,
you
know
for
such
a
long
time,
but
I
get
what
you're
saying.
George
and
you
bring
up
a
good
concern,
but
I
just
think
that
some
of
this
is
market
driven.
You
know,
you
know
you
who
folks,
who
want
to
be
in
their
in
their
warehouse.
D
You
know,
can
be
there
if
something's
driving
them
to
get
to
something
bigger,
they
may
not
even
choose
majestic.
Maybe
they
go
to
another
one
up
in
the
pinnacle
area,
where
another
company
is
building
300
000
square
feet
of
space,
so
I
mean
I
mean
you're
right
to
be
concerned,
but
I
think
that
some
of
these
can't
be
written
into
an
agreement.
D
Acknowledge
that
we
I
mean
this
this
this
we
when
there's
public
participation
in
a
project.
There
is
a
measure,
maybe
big
or
small,
of
interference
in
the
natural
free
market
and
that's
just
something
we
have
to
acknowledge
and
it
could
be
in.
It
may
very
well
be
a
risk
that
we're
willing
to
take
given
the
merits
of
the
project
right,
but
you
know
we
can't
just
say:
well,
you
know,
c'est
la
vie,
but
it's
certainly.
I
think
something
that
we
as
an
edac
and
certainly
our
our
council
and
county
and
yeah.
H
H
If
there
is
another
project
that
is
worthy
of
this
size
of
investment
in
kind
of
moving
the
market
and
moving
the
needle,
I
think
the
city
has
said
they're
willing
they
want
to
make
it
an
even
even
playing
field.
So
teclo
am
I
summarizing
that
that
was
some
of
the
early
discussions
that
we
had
early
on.
If
we
do
it
for
you,
you
know
we
kind
of
have
there's
precedent,
that's
being
set
in
there
and
absolutely.
This
is
not
an
exclusive
just
for
majestic
well.
D
No
certainly
not
I'm
sorry,
certainly
not
we're
working
with
another
local
developer
on
the
tours
as
we
speak,
and
and
that's
a
really
big
deal
and
and
then
we've
had
other
folks
approach
us
about
public
improvement
districts.
Chapter
380s,
I've
probably
got
seven
or
eight
open
projects
right
now
that
are
at
the
very
beginning
stages.
But
what
the
point
is
is
that
people
continue
to
to
reach
out
to
us
and
we'll
listen
until
we,
you
know
the
the
pen
and
paper
have
to
get.
D
You
know
put
together
for
a
report
to
either
bring
by
edac
or
to
the
city
council,
but
but
I
I'm
I'm,
I'm
trying
to
work
with
whomever
comes
forward.
You
know
as
much
as
possible,
but
if
you'll
allow
me,
let
me
let
me
get
through
some
of
this.
It's
almost
gonna
be
5,
30
and,
and
we
want
to
at
least
make
sure
that
you
get
them.
This
information
certainly
will
send
to
you
as
soon
as
I
get
a
chance.
So
this
this
next
page.
D
Let
me,
let
me
broaden
it
out
just
a
tad.
These
are
the
tables
below
provide
an
overview,
the
potential
development
for
for
the
for
these
projects
that
will
occur
during
the
life
of
the
tours
and
you
can
hit
see
here.
I
want
to
explain
this
to
you.
These
are
the
phases.
The
square
feet
projected
completion
date
stabilization
year,
taxable
value
per
square
foot
incremental
value
on,
on
the
right
hand,
side,
as
you
can
see
these
phase,
one
phase
two
is
imminent.
D
This
is
what
kyle
was
referring
to,
that
they
would
begin
building
immediately.
If,
if
you
know,
should
the
the
turrets
be
adopted,
phase
three
is
also
pretty
close
right,
and
so
you
can
see
what's
in
store
for
laredo
in
terms
of
space,
480
308
131,
137
635.
These
are
the
sizes
of
these
warehouses,
not
just
warehouses,
but
it
could
be
other
things
as
well,
but
the
of
the
buildings.
I
should
call
them
right.
D
That
would
be
down
here
and
that's
another
huge,
huge
phase
if,
if
that
gets
done
and
decide
to
get
done
at
a
later
point,
I'm
really
impressed
with
these
here,
because
this
is
what's
what's
coming
in
most
of
us,
especially
as
older
folks,
we'll
be
able
to
see
some
of
this
or
all
of
this
go
up
before
we
get
into.
You
know
the
stages
four,
and
so
on
next
page
again,
project
costs.
These
are
public
infrastructure
costs.
I've
mentioned
these
already.
The
83.32
million
dollars
they
have
them
here.
D
H
So
what
what
this
does
is
under
chapter
311
as
tequo
said
nothing
within
the
tiff
and
the
way
that
we've
kind
of
structured.
This
is
going
into
majestic
properties
themselves.
The
way
chapter
311
was
originally
written.
It
has
to
be
in
public
right
away
in
public
infrastructure,
things
that
are
owned
by
by
the
city
and
so
they're
in
public
right
away.
H
What
we
have
found
having
done
tips
for
as
long
as
we
have
is
that
you
know
we
know
who
we
know
and
we
don't
know
what
we
don't
know
right
or
we
know
what
we
don't
know,
but
we
don't
know
what
we
don't
know
rumsfeld
quote
there,
but
essentially,
when
majestic
comes
forward,
and
as
I
kind
of
talked
about
that
texas
two-step,
these
are
buckets
of
eligible,
and
so
this
is
what
the
tiff
is
committing.
We
will
fund,
we
will
fund
water,
sewer,
sanitary
sewer,
streets
utilities
and
per
statute.
H
You
do
have
to
include
administrative
costs
so
that
that's
just
required
by
law
but
as
as
majestic
comes
forward
with
their
phase.
Two
they're
gonna
have
their
private
investment,
which
I
think
kyle
we've
talked
about
a
175
million
dollars
and
we're
going
to
have
so
much
in
public
infrastructure
and
those
are
going
to
all
be
vetted
by
the
city
staff
and
be
included
into
the
agreement,
and
so
this
pulls
from
those.
But
these
are
the
categories
that
the
tiff
is
committing
to.
H
E
H
D
Do
you
mind
if
I
just
make
a
quick
comment,
I
wanted
to
bring
something
up.
To
you
sure
say
this
was
a
residential
terse
right,
as
david
mentioned.
If-
and
I
I
say
this
because
I
know
you're
on
on
the
local
bike
committee
and
so
forth,
if
you
wanted
to
include
like
separate
bike
lanes
like
deters,
could
pay
for
that
as
a
public
infrastructure.
D
If
you
wanted
to
do
even
like
bike
stations
or
or
anything
for
walking,
and
things
like
that
in
in
the
residential
terms,
you
would
be
able
to
do
that
with
that
tourist
funding
for
public
infrastructure.
You
know
what
I
mean
yeah,
I'm
familiar
with
that
thanks
for
pointing
that
out,
because
there
are
a
lot
of
dock
workers
that
use
mass
transit
to
travel
and
so
bus
stations,
bus
stops
rather
and
protected.
D
D
D
D
We
actually
had
a
hard
number
from
the
developer
and-
and
that
was
really
helpful
because
then
we
calibrated
the
the
the
ters
which
was
passed
by
council
to
to
say,
okay,
we're
going
to
reimburse
these
public
improvements
and
the
the
tours
will
have
a
life
span
of
30
years
or
paying
off
this
number.
You
know
whichever.
H
I
D
That's
helpful
because
if
you,
if,
if
you
all
say
hey,
look
we're
gonna,
invest,
you
know
108
million
bucks,
you
know
all
the
way
to
through
phase
six,
but
we're
only
really
asking
city
for
this
80.
Something
number
that's
good,
because
we
get,
you
know
a
little
a
little
extra.
You
know
bang
for
our
buck
on
on
that
and
then
once
you
know,
hopefully
the
project
goes
great.
D
It's
gangbusters
development
happens
at
this
accelerated
rate
and
you're
capturing
that
increment
and
you
pay
off
that
83
million
dollars
in
change
well
in
advance
of
the
30-year
term,
and
then
at
that
point,
as
I
understand
it,
the
deters
expires
by
operation
of
law
based
on
full,
the
public
improvements
being
reimbursed
to
the
developer.
That
is
that
is
that
what
we're
talking
about
in
this
situation,
the.
H
D
D
All
right
and
then
because
that
was
a
big
deal
in
the
last
tours
that
we,
you
know
you
know,
dealt
with,
and
that
was
a
big
concern
for
citizens,
which
is
hey,
because
we
know
that
in
the
event
of
a
default,
the
city's
on
the
hook
for
whatever
money
that
that
tiff
board
is,
you
know,
goes
out
and
and
encumbers
itself
with
now,
and
can
anyone
speak
to
whatever
proposed
clawback?
Provisions
are
yes,
we
can
george
well
we'll
and
I'll
answer
your
question.
D
D
It
says
55
for
the
county
there.
You
know
they
would
contribute
the
same
rate
as
as
we
would
if
they
agree
to
participate
in
the
agreement
they
don't
have
to,
but
but
normally
when
other
entities
join
into
a
tours
that
a
city
is
involved
with,
they
follow
the
same
number
on
terms
of
project
tours
and
revenue
share.
D
So
there's
no
debt
service
involved,
an
economic
development
feasibility
study
was
was
done
as
as
part
of
this
exercise
to
get
to
the
point
to
where
we
decided
whether
this
project
was
feasible
or
not.
That's
certainly
not
making
any
decisions
for
the
city
council
we're
only
advising
that
we
went
through
this
and
we
deem
it
feasible
for
this
and
and
to
advise
our
city,
leadership
and,
and
the
city
council
and
the
edac
again
here
are
the
spreadsheets
that
you
can
go
through
year
by
year.
D
H
H
D
And
those
two
really
big
sheets
of
numbers
there
that
natalie,
I
want
to
give
her
credit
that
put
together
on
you,
know
kind
of
take
you
to
this
page,
which
is
a
final
financial
feasibility
analysis
and,
as
you
can
see,
I
want
to.
I
want
to
blow
it
up
a
little
bit
here
in
this
corner.
You'll
see
the
taxing
jurisdictions
right,
and
I
mentioned
this
earlier.
As
I
was
talking,
there
is
a
city
of
laredo
that
this
is
how
much
over
the
30-year
period.
This
is
really
key
for
everyone
is.
D
This
is
the
the
number
that
of
revenue
that
would
be
generated
through
taxes,
50
million
would
be
put
in
deters
for
reimbursement
for
public
infrastructure,
and
then
41
would
be
received
by
the
the
city,
and
I
mentioned
that
earlier,
the
32
and
the
9
million
mno
and
and
the
other
part
right
for
interest
and
sinking.
So
that's
our
41
million
that
you
look
at
the
county
if,
if
and
when
they
they
would
participate.
D
You
know
they.
Their
tax
rate
is
a
little
bit
lower
than
ours,
so
they
would
generate
59
million
they
put
32
in
the
tours
and
then
and
then
26
will
be
left
for
them.
United
is
not
participating
and
mo
and
historically
and
it's
been
forever,
unless
you're,
elon,
musk
and
and
his
company
you
get
a
school
to
participate,
but
mostly
they
they
do
not
and
they
would
receive
173
and
then
lc
would
receive
47
or
that's
over
that
same
period
of
time.
D
It
was
projected
to
receive
that
much
here.
You
can
see
the
pie
chart
that
that
that
shows
us
that
there
is
their
tourist
participation
between
a
webb
county
and
the
city,
the
city
being
in
blue,
and
that's
the
50
million
I
mentioned
here
and
then
on
your
right
hand,
side
you'll,
see
the
the
all
the
taxes
that
are
generated
altogether,
173
for
the
school
district,
91
from
the
city,
47
from
lc
and
59
for
webb,
county
and.
H
There
were
a
lot
of
school
districts
that
were
participating
in
tiffs
because
they
were
sheltering
money
from
robin
hood
and
so
in
1999
the
legislature
changed
that,
and
they
said,
okay
for
every
dollar
you
put
on
mno
we're
going
to
subtract
the
amount
of
money
that
we
give
you.
So
it
was
punitive
for
them
to
participate.
D
That
was
done
the
last
session.
Yes
again,
this
is
a
this
is
the
terms
and
conditions
david
talked
about
this
this
here
at
the
very
bottom,
the
the
board,
the
tourist
board
should
not
be
authorized
to
issue
bonds,
impose
taxes
or
fees,
exercise
the
power
of
imminent
domain
and
give
fine
or
approve
it
to
the
zones
project
and
finance
plan
right.
So
those
are
the
rules
up
there
for
the
board.
D
H
Yes,
typically
a
lot
of
times,
we
have
boards
that
only
meet
to
discuss
the
annual
report
and
when
there
is
a
request
from
the
developer
to
kind
of
take
a
slice
from
the
pie
through
a
development
agreement,
and
so
I
always
like
to
say,
there's
two
mother
may
eyes
one
mother.
May
I
to
the
tif
board
and
the
tif
board
is
a
recommending
body
to
the
city
council.
B
Thank
you.
Thank
you
to
the
whole
majestic
team.
I
think
that
you
guys
were
very
transparent,
answered
a
lot
of
the
questions
that
not
only
committee
members
had,
but
also
from
our
public
comments.
You
guys
went
into
transparency
in
regards
to
the
supply
and
demand
issues,
the
risk
issues
leveling
out,
the
playing
field,
etcetera,
etcetera.
So
I
think
that
you
guys
did
a
great
job
and
present
in
presenting
this
to
us.
Thank
you
all
for
your
time
and
to
our
committee
members.
B
D
And
in
terms
of
economics,
you
know
we
looked
at,
we
looked
at
what's
projected
for
jobs,
we
looked
at
what
was
projected
for
sales
tax.
We
know
what's
going
to
come
via
at
least
projected
on
property
taxes,
the
ad
valorem
that
will
be
received,
and
so
from
those
from
those
views.
You
know
point
of
views.
We
know
how
the
city
will
would
be,
or
at
least
we
have
a
good
idea
how
the
city
would
be
economically
impacted
there.
D
We
don't
know,
for
instance,
which
is
a
you
know,
would
be
a
positive
thing
like
after
phase
two
is
after
phase
two
is
done
or
phase
three
is
done.
How
many
more
bridge
crossings
are
we
gonna
have?
Well,
we
don't
know,
because
we
don't
know
what
companies
are
gonna
move
in.
Are
they
heavy
bridge
users?
Are
they
not
heavy
bridge
users?
You
know
what
I
mean,
and
so
so
we
have
a.
We
have
some
a
few
unknowns
and
then
several
knowns
as
well.
Mr
dominguez.
D
The
motion
also
would
have
language
to
be
included
that
in
the
rebate
evaluation,
the
local
relocated
companies
need
to
expand
a
minimum
of
by
50
percent
and
then
majestic
would
need
to
disclose
that
information
on
relocated
firms
to
the
city
and
taxing
entities.
Okay,
mr
oakdale,
may
I
stop
you
there
for
a
minute,
and
this
has
nothing
to
do
with
your
ideas.
D
H
Yes,
as
far
as
the
steps
that
the
statute
affords
is
we
have
those
the
creation
ordinance,
which
is
the
boundary,
the
term,
the
participation,
the
tip
board
and
the
preliminary
project
and
financing
plan.
The
time
to
address
any
of
those
would
be
through
the
development
agreement
that
would
be
becoming
before
the
tif
board
and
the
city
council.
D
If
there's
a
great
product
at
a
great
price,
as
we
hope
there
is,
I
think
it's
foreseeable
that
local
companies
are
going
to
want
to
expand.
But
even
if
it
is
conjecture,
it
is
the
it
is
the
edac's
decision
to
whether
or
not
they
accept
this
motion
or
not
to
to
go
forward
or
not,
and
so
yeah.
Your
comments
are
are
duly
noted,
but
my
my
motion
stands.
C
D
D
B
D
D
B
D
D
G
D
D
The
reason
I
think
that's
important
is
because
for
future
reference
I
think
we
can
take
what
we're
doing
here
with
majestic
and
use
it
as
a
blueprint
for
hopefully
future
terses.
But
if
we're
keeping
track
of
these
benchmarks
as
it
relates
to
future
terses,
we
can
dial
things
in
a
little
a
little
more
specifically,
you
know
I
realize
this
is
our
our
kind
of
our
our
first
industrial
tours
and
and
the
reality
is,
I
think
we
would
want
more
of
them.