[1. Call to order]
          [00:00:05]
          SO IT IS ALSO 4:26 AND I WILL CALL THIS MEETING TO ORDER. THERE IS A QUORUM PRESENT AND WE HAVE TO APPROVE MINUTES EACH TIME? OKAY. 
          [2. Approve minutes from the following meeting(s): January 6, 2026. ]
SO THE MINUTES ARE IN OUR PACKET, WE WILL APPROVE MEETING FROM THE FOLLOWING MINUTES FROM JANUARY 6 2026. I ENTERTAIN MOTION FOR PASSING OF MINUTES. 
          I SEE MOTION BY COUNCILMAN BOWERS. >>  I MOVE WE APPROVE MEETING 
          FROM JANUARY 6 2026 MEETING. >>  AND A SECOND. >>  I SECOND. 
          >>  ALL RIGHT, CALL OF THE VOTE. >>  AND THAT PASSES 7-0. NOW WE'LL HAVE THE PRESENTATION 
          [3. Presentation and discussion regarding TIRZ #3 adopted financial plan. ]
DISCUSSION REGARDING TIRZ 3 ADOPTED FINANCIAL PLAN AND I'LL TURNO TURNOVER. 
          >>  BOARD, THERE WE GO. WE'RE HERE TO DISCUSS THE FINANCIAL PLAN FOR THE DOWNTOWN TIRZ. THIS SLIDE HERE HAS ILLUSTRATION OF THE ZONE THAT DESCRIBES TIRZ 3 DOWNTOWN TIRZ. GOING BACK A SLIDE WE HAVE THE PROJECT FINANCING PLAN FOR THE DOWNTOWN TIRZ. WE'LL TALK ABOUT THIS A LITTLE BIT. 
          >>  MICHAEL, QUESTION, WE HAVE AGENDA ITEM PRESENTED TIRZ 4 BUT PRESENTATION IS TIRZ 3. 
          >>  THERE SHOULD BE -- >>  IN OUR AGENDA ITEM LANGUAGE FOR MOTION IT SAYS TIRZ NUMBER 4 PRESENTATION IS SAYING TIRZ 3. SO JUST TO CLARIFY, IT IS DEBBY JUST PULLED UP NEW AGENDA 4:15 P.M., THAT WAS ESTIMATED START TIME ON CONCLUSION OF TIRZ 2 MEETING NOW WE'RE ON THE TIRZ 3 MEETING. AND SO ITEM 3 IS PRESENTATION TIRZ 3 ADOPTED PLAN, WHERE WE 
          ARE. >>  CAN I ASK FOR THIS AGENDA ITEM MAKE YOU AWARE OF THINGS PLACED POTENTIAL EXPENSES OF TIRZ NUMBER 3, AGAIN THIS IS 2017 AND IT GOES THROUGH 2037. 
          WE HAD UTILIZED THIS MY UNDERSTANDING ECONOMIC DEVELOPMENT GRANT ONLY THING PULLED OUT AT THIS POINT FOR $1.17, THAT NUMBER CAME FROM AN ADDITIONAL ORIGINAL ESTIMATION OF PUBLIC IMPROVEMENT FOR THE DOWNTOWN VILLAGE 380 AGREEMENT. THE FULL COST OF 380 EXCEEDED THAT AMOUNT, WE GET TO THAT LIMIT WE STOPPED PULLING FUNDING OUT OF TIRZ TO MEET THAT OBLIGATION AND HAVE BEEN MEETING THAT OBLIGATION OUT OF THE GENERAL FUND, WE STARTED TO SEE FUNDING GROW INTO THE DOWN UNTO TIRZ, THERE IS ALSO A REQUEST AT ONE POINT FOR 190 AGREEMENT TO RECEIVE FUNDING FOR THIS AGREEMENT, THEY DID NOT GET A REPAYMENT AGREEMENT IN PLACE BEFORE THEY COMPROJECT AND NOT FUNDING OUT OF TIRZ HAVE NOT SATISFIED THAT OBLIGATION. 
          THERE IS NOT A CURRENT OBLIGATION FOR THIS TIRZ. THESE ARE POTENTIAL AGAIN OPPORTUNITIES THAT YOU COULD USE THE MONEY FOR. ALSO HAD QUESTIONS ABOUT MUNCIPAL COMPLEX, WHEN IT WAS ADDED NOT INTENTION TO USE TIRZ FUNDS WHEN YOU LOOK AT BUDGET, YOU WILL SEE TIRZ WAS NOT SUFFICIENT TO MAKE SIGNIFICANT CONTRIBUTION TO THAT CONTRACT IT FOR US, THAT $20 MILLION HAS Y - BEEN FUNDED THROUGH OBLIGATION WHICH HAVE BEEN SOLD BY CITY ALREADY SO THAT OBLIGATION WILL NOT BE PAID OUT OF DOWNTOWN TIRZ. 
          AGAIN, THIS IS SOMETHING THAT CAN BE AMENDED BY THE TIRZ BOARD IN FUTURE. 
          IF INTEREST FOR USING IT FOR SOMETHING OTHER THAN ITEMS IDENTIFIED HERE. 
          >>  ALSO, CORRECT ME IF I'M WRONG, THERE IS WATER AND WASTE WATER LINE ITEM ON HERE, BUT WE'VE HAD CONSERVATIONS OUTSIDE OF THIS ROOM WITH VARIOUS OPPORTUNITIES THAT MIGHT COME TO 
          [00:05:08]
DOWNTOWN AND THE CONVERSATIONS HAVE BEEN THEY NEED TO ADD WATER AND WASTE WATER INFRASTRUCTURE TO THEIR PARTICULAR LOT THAT MAY BE UNDEVELOPED, THIS WOULD NOT BE ELIGIBLE FOR THAT, THESE ARE PUBLIC IMPROVEMENT NOT ON PRIVATE PROPERTY, IS THAT CORRECT? 
          >>  THAT IS CORRECT. REIMBURSEMENT FOR BAYSIDE IS RE REIMBURSING THEM FOR UPSIZING OR INSTALLING PUBLIC INFRASTRUCTURE TO SUPPORT THEIR DEVELOPMENT. 
          THAT WOULD NOT PRECLUDE US ADDING A LINE ITEM SOME POINT THAT ADDING ADDITIONAL ECONOMIC DEVELOPMENT DOLLARS THAT COULD REIMBURSE THROUGH A 380 AGREEMENT PRIVATE PROEFRP AGREEMENT, WATER LINE, GREASE TRAP OR PRIVATE IMPROVEMENT NECESSARY TO DEVELOP OUT OF PROPERTY. WE COULD APPROACH FROM THAT DIRECTION, THAT IS CORRECT, 
          RIGHTS? >>  THAT IS CORRECT. UPDATE 117 NUMBER TO GIVE YOU FLEXIBILITY TO PAY FOR OBLIGATION OUT OF ECONOMIC DEVELOPMENT AGREEMENT. 
          >>  RIGHT. I WANT TO SAY THAT OUT LOUD WHEN WE SEE 4.7 FOR WASTE WATER, HAS THE ASTERISK BUT THAT IS NOT FOR INFRASTRUCTURE ENHANCEMENT IT HAS TO BE PUBLIC FACING 
          INFRASTRUCTURE. >>  WHAT WOULD BE THE PROCESS TO AMEND THE TIRZ PLAN? WOULD THAT HAPPEN IN THIS MEETING OR ANOTHER CALLED MEETING OF THE TIRZ BOARD? REQUIRE DIRECTION FROM COUNCIL AS COUNCIL BODY BEFOREHAND OR WHAT WOULD THAT PROCESS LOOK 
          LIKE? >>  DOES NOT REQUIRE PRIOR COUNCIL ACTION OR NOTICE FOR TIRZ BOARD MEETING THAT IS NOT ON THE AGENDA TONIGHT, WOULD GO THROUGH AND HAVE TO CREATE A NEW PAN FOR US AND WE'D HAVE DISCUSSION ABOUT THAT PLAN, PROPOSE THAT PLAN AND AMENDED BY TIRZ BOARD. I DON'T THINK IT HAS TO BE RATIFIED BY COUNCIL. 
          >>  IT DOES, WE HAVE TO HAVE PUBLIC HEARING AND POSTED WEEK IN ADVANCE. 
          WHOLE PROCESS IN ORDER TO AMEND TIRZ PLAN BASED ON THE 2023 EXPERIENCE WOULD BE 45 DAYS OR 
          LESS. >>  YEAH, I'M NOT WORRIED ABOUT THE TIME, I THINK THAT IS IMPORTANT, YOU KNOW THAT TO ME WOULD BE SUBSEFRVIENT TO COUNCI ACTION TO 380 AGREEMENT AND LOOK TO TIRZ FOR WAY TO FUND THAT AGREEMENT IF AND WHEN THAT WERE TO HAPPEN. 
          I THINK THAT IS THE -- MIGHT BE ONE APPROACH, HAVING ECONOMIC LINE ITEM DEVELOPMENT FROM PUBLIC PERCEPTION STANDPOINT IS WE ARE INVESTED IN ECONOMIC DEVELOPMENT ASPECT WHAT TIRZ HAS TO OFFER. THESE OTHER ITEMS ARE PRETTY VITAL TO DOWNTOWN, LIKE PARKING STRUCTURE, FOR INSTANCE, ENSURING ADEQUATE WATER AND WASTE WATER. 
          YEAH, I MEAN TRANSPORTATION LINE ITEM INCLUDE WAYFINDING, WHICH WE TALKED ABOUT FROM THE 
          DOWNTOWN PLANNED DEPLOYMENT, AS WELL. >>  CURRENTLY THE TIRZ BOARD WE'LL GET INTO MORE BECAUSE AS KRISTOFF BAUER ELUDED TO, IT HAS BEEN CONSUMED FULLY BALANCES ARE NOW GROWING AND THE RECOMMENDATION OF TIRZ BOARD OF COUNCIL AND COUNCIL WILL BE ABLE TO WORK ON SOME OF THESE PROJECTS IDENTIFIED OR AS WE DISCUSSED AMEND PLAN FOR 
          ECONOMIC DEVELOPMENT, ADDITIONAL ECONOMIC DEVELOPMENT. >>  THAT WOULD BE GOOD THING TO REVISIT AFTER BUDGET SEASON BECAUSE I KNOW THERE IS A TIME CRUNCH PARTICULARLY IN THE IN YOUR DEPARTMENT, MIKE, AND CAPACITY LIMITATION WHAT WE CAN EXPECT TO DO BUT I THINK THAT WOULD BE A GOOD CONVERSATION TO HAVE OCTOBER OR NOVEMBER TIMEFRAME TO BRING THIS BACK AND OPEN UP THIS TIRZ IN PARTICULAR THIS ONE AND EXPLORE OPTIONS, MAYBE TIRZ TWO ON BAYSIDE AND DEFINITELY THIS ONE BECAUSE THERE IS OPPORTUNITY HERE AND IT IS GROWING AND I'M NOT A HUGE FAN OF DOLLARS SITTING IDLE UNLESS IDENTIFIED FOR A SPECIFIC PURPOSE. 
          WHETHER THAT IS PARKING STRUCTURE OR ECONOMIC DEV DEVELOPMENT PROGRAM, REGARDLESS OF INTENT WE CAN DETERMINE AT THAT POINT BUT WE NEED TO VHAVE THAT DISCUSSION. 
          >>  MICHAEL, PLEASE CONTINUE. >>  I THINK WE'RE GOOD WITH THE PFP, IF EVERYBODY ELSE IS. 
          >>  ANY OTHER FURTHER COMMENT OR QUESTIONS REGARDING THE FUNDING PLAN? 
          >>  I THINK THE MAYOR ACTUALLY IS LOOKING AT MY SHEET HERE AND GOT ALL MY QUESTIONS. 
          [00:10:06]
          >>  SORRY. >>  NO, PERFECT, I DID NOT KNOW HOW TO WORD THEM ALL, MADE IT MAKE SENSE. FOR ABSOLUTE CLARITY APPROVING THIS TONIGHT DOES NOT IMPACT 
          COMING BACK LATER AND ADJUSTING THIS TIRZ? >>  SHOULDN'T. 
          >>  TO BE CLEAR, FINANCIAL PLAN IS NOT ON FOR APPROVAL, I JUST DID IT FOR INFORMATIONAL 
          PURPOSES. DO BUDGET HERE IN A SECOND. >>  SAME QUESTION, I AMEND FOR BUDGET. ON THAT NOTE, IT MAY BE OUTSIDE THIS, THE $20 MILLION FOR MUNCIPAL COMPLEX, SINCE SEAL ISSUED ON IT CAN BE USED FOR SOMETHING ELSE WITHIN THAT TIRZ? 
          >>  NO. >>  NO? >>  UM, TO KRISTOFF BAUER POINT, NO. NOT $20 MILLION IN TIRZ, WE WILL SEE THAT FURTHER, THE TIRZ PLAN IS MORE LIKE IDENTIFYING NUMBER OF PROJECTS UP TO A CERTAIN DOLLAR AMOUNT AND CONTINGENT UPON GROWTH OCCURRING AND FUND BALANCE BUILDING FUND BALANCES ALLOCATED TO PROJECT IDENTIFIED 
          UP TO SPECIFIC AMOUNT IDENTIFIED. >>  TO BE CLEAR, $20 MILLION 
          NEVER IN THE TIRZ, NEVER FUNDED BY THE TIRZ? >>  GOT IT. 
          >>  TO BE REALLY BLUNT, THE PRIOR CITY COUNCIL OR CITY COUNCIL UNDER THE PREVIOUS ADMINISTRATION ARRANGED THAT WE WOULD FUND THE CITY HALL SPECIFICALLY AS PART OF THE MUNCIPAL PROJECT AND APPROACH TO DO THAT BECAUSE I'M NOT SURE THAT SEAL WOULD SUPPORT A CITY HALL WITHOUT DESIGNATED TIRZ ITEM UNDER WHICH TO APPLY IT, IS THAT SOMEWHAT CORRECT? 
          >>  THAT IS SOMEWHAT CORRECT AND IT DEPENDS ON THAT WAS THE METHOD, THE CONVERSATION IS MORE 
          COMPLEX THAN THAT. >>  SURE. >>  TO NOT RUN DOWN THAT RABBIT HOLE TODAY, THAT IS FINANCING MECHANISM TO AUTHORIZE TO USE DIFFERENT WAY OF ISSUING DEBT THAN WOULD HAVE BEEN AVAILABLE HAD IT NOT BEEN INCLUDED IN FINANCIAL PLAN OF THE DOWNTOWN AREA. IT WAS NOT FUNDED BY TIRZ, NOT OBLIGATION OF THE TIRZ AND IT IS 
          NOT A RESOURCE OF THE TIRZ. >>  ANY OTHER COMMENT OR QUESTIONS? 
          [4. Discussion and consideration to approve recommendation of TIRZ #3 Budget to City Council. ]
IF NOT, WE'LL MOVE TO THE DISCUSSION AND CONSIDERATION TO APPROVE RECOMMENDATION FOR TIRZ 
          3 BUDGET TO THE CITY COUNCIL. >>  ALL RIGHT, DIVING INTO BUDGET, HERE WE HAVE THE PROPOSED 2027 BUDGET ALONG WITH 2026 ADOPTED AND ACTUALS. FOR 2027, BEGINNING RESERVE BALANCE IS APPROXIMATELY $1.3 MILLION, 600,000 BASED ON VALUE BY D-CAB, TO BE GENERATED IN THE TIRZ FROM PROPERTY TAXES AND THEN $20,000 IN EXPENSE LINE I ITEM -- AND 5000 FOR CITY LEADING TO INCREASE OF $620,000, SO ABOUT 1.9 MILLION DOLLARS ESTIMATED POTENTIAL RESOURCES IN FISCAL 2027 TOWARD PROJECT WE TALKED ABOUT IN THE PRIOR ITEM. 
          >>  I'M GOING BACK TO BYRON'S QUESTION REAL QUICK. KRISTOFF BAUER SAID WE'RE NOT APPROVING A PLAN. FINANCIAL PLAN TONIGHT. BUT ALSO BY APPROVING A BUDGET, THAT DOES NOT MEAN WE'RE PROHIBITED COME FROMMING BACK AND DOING MID-YEAR BUDGET 
          ADJUSTMENT ALIGN WITH NEWLY REVISED PLAN MIDYEAR? >>  OR WITH CURRENT PLAN. 
          THIS IS BUDGET TO SPEND ONLY $20,000, WHICH IS MINIMUM COST TO ADMINISTER THE PLAN AND COVER SOME OPERATIONAL COST. SO THERE IS NO PLANNED EXPENDITURE IN THE BUDGET. 
          >>  APPROVING BUDGET TO P PERFUNCTORY THING WE HAVE TO DO AS PART OF BIEJ  BUDGET CYCLE. 
          >>  THAT IS CORRECT. WE HAD DEVELOPMENT AGREEMENT AND 380 AGREEMENT AND THAT 380 AGREEMENT, YOU WANTED TO COVER ALL OR SOME COST OF 380 THROUGH RESOURCES FROM TIRZ, YOU WOULD HAVE TO APPROVE 380 AGREEMENT, APPROVE AN AMENDMENT TO THE TIRZ FINANCIAL PLAN AND THEN APPROVE REVISED BUDGET FOR TIRZ IN ORDER TO COMPLETE THAT OBLIGATION AND MAKE PAYMENTS. 
          >>  THESE THREE THINGS HAVE TO HAPPEN BY DIFFERENT BODY, 380 AGREEMENT CITY COUNCIL, REVISED 
          [00:15:01]
PLAN THE TIRZ BOARD AND PROBABLY CITY COUNCIL AND BUDGET TIRZ BOARD ONLY. 
          >>  CORRECT. >>  OR MAYBE ALSO THE CITY COUNCIL. 
          >>  I THINK THE CITY COUNCIL, AS WELL, THEY HAVE AUTHORITY FOR ALL SPENDING IN TIRZ. 
          TIRZ BOARD SHALL MAKE RECOMMENDATION TO THE COUNCIL. >>  THANK YOU. 
          >>  CLARIFICATION, 380 AGREEMENT DOES NOT NECESSARILY FOLLOW TIMING OF MIDYEAR BUDGET ADJUSTMENT, WE CAN DO THAT AT ANY TIME, THAT WOULD BE PRECIPITOUS OF GOING AND DOING THAT, WE HAD 380 AGREEMENT IN PLACE OR UNDER NEGOTIATION ALL THE THINGS YOU JUST DESCRIBED? 
          >>  CORRECT. >>  AND KRISTOFF BAUER HYPOTHETICAL HAD 380 AGREEMENT FIRST, IT COULD GO OTHER DIRECTION, START BY AMENDING TIRZ PLAN AND ALLOCATE X NUMBER OF DOLLARS FOR ECONOMIC DEVELOPMENT AND ACTIVELY MARKET FOR DOWNTOWN SPACE AND TURN INTO A TOOL WE'RE TALKING ABOUT WITH OTHER FOLKS THEN 380 AGREEMENT GETS EMPLOYED BY THE CITY AND DEVELOPER FOR WHATEVER AMOUNT, MORE, LESS, SAME, WHATEVER, DOLLARS SITTING IN TIRZ READY TO REIMBURSE SO IT DOES NOT IMPACT GENERAL FUND AS GREATLY AS IT OTHERWISE WOULD. 
          >>  THANK YOU. >>  ANY OTHER COMMENTS OR QUESTIONS? 
          >>  IF NOT, I WILL ENTERTAIN A MOTION TO APPROVE TIRZ 3 BUDGET. I SEE MOTION BY MAYOR WING I 
          THINK  WINGET. >>  SECOND BY COUNCILMAN GIBBS. CALL TO VOTE. 
          >>  THAT VOTE PASSES 7-0, IT IS
* This transcript was compiled from uncorrected Closed Captioning.