* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.
          NEED 
          [00:00:01]
A CLICKER, DON? I 
          [ Brentwood City Commission Briefing March 20, 2025 Click on Download PDF Packet above to view Briefing Agenda Following discussion of the March 24th Agenda, the items below will be discussed:  Audit Review TCRS Hazardous Duty Information Conference call with Sports Facilities Advisory regarding management of a racquet facility This informational meeting is an opportunity for the Board of Commissioners to discuss the upcoming agenda, to ask questions of staff and applicants, and to request additional information prior to the formal Monday meeting.]
OKAY. 
          GOOD MORNING, EVERYBODY. 
          GOOD MORNING. 
          GOOD MORNING. 
          WE HAVE, UH, OUR AUDITORS TO START OFF OUR MORNING WITH, TO, UH, HOPEFULLY PROVIDE SOME GOOD NEWS TO YOU. 
          BUT, UH, WE'LL LET THOSE WORDS COME OUTTA THEIR MOUTH AND, UH, EXCITED TO HEAR WHAT THEY'RE GONNA TELL US THIS MORNING. 
          AND SO, UH, JULIE AND KEN, TAKE IT OVER. 
          GREAT. 
          WELL, THANK YOU ALL FOR ALLOWING US, UH, TO SERVE AS YOUR AUDITORS AND ALLOWING US TIME AT YOUR MEETING TODAY. 
          UH, WE GREAT TO START OFF WITH AN AUDIT, RIGHT? BUT THAT'S RIGHT. 
          WE, WE DO ACTUALLY HAVE A GOOD REPORT FOR YOU, SO I'LL GIVE YOU THAT NEWS IN ADVANCE. 
          SO, UH, THERE'S SOME DOCUMENTS I THINK THAT, UM, MAYBE HAVE BEEN DISTRIBUTED TO YOU ALL, OR, UM, AVAILABLE FOR YOU TO, UH, TO LOOK OVER. 
          WE'RE JUST GONNA GO OVER, UH, THESE REPORTS IN A, IN AN INTENTIONALLY BRIEF FORMAT. 
          UM, BUT, UH, CERTAINLY WANT TO BE ABLE TO FIELD YOUR QUESTIONS, UH, SHOULD YOU HAVE ANY, AND, UM, YOU KNOW, JUST TALK A LITTLE BIT ABOUT THE AUDIT PROCESS. 
          UM, SO WHERE, UM, I'M GONNA START IS, UH, THERE'S A COUPLE OF LETTERS THAT IS THE, UH, REPORT TO THE COMMISSIONERS. 
          UM, AND WE PERFORMED AN AUDIT FOR, UM, YOU KNOW, SEPARATELY THE BRENTWOOD EMERGENCY COMMUNICATIONS DISTRICT. 
          UM, AND THEN, UH, OF COURSE, THE CITY OF BRENTWOOD AS WELL, WHICH THE EMERGENCY COMMUNICATIONS DISTRICT IS COMBINED INTO THAT REPORT, UH, ALSO, BUT THERE'S A SEPARATE, UH, REPORT FOR THE DISTRICT'S, UH, COMMUNICATIONS DISTRICT. 
          UM, AND SO, UH, THE, THE LETTER I'M GONNA START WITH IS, UM, IS JUST THE REPORT. 
          THERE IS A SEPARATE LETTER FOR, UH, BOTH OF THESE, UH, ENTITIES, BUT, UH, REALLY THE CONTENT IS THE SAME IN, IN BOTH OF THESE FOR THE MOST PART. 
          SO, UH, SO I'LL JUST GO THROUGH IT ONCE, UH, IF YOU FLIP A FEW PAGES INTO THAT LETTER, UH, WE TALK ABOUT OUR, OUR ENGAGEMENT IS WITH, UH, OF COURSE WITH THE CITY, BUT ALSO THE STATE OF TENNESSEE CONSTABLE'S OFFICE. 
          AND SO, UH, WE PERFORMED THIS AUDIT UNDER GOVERNMENT AUDITING STANDARDS. 
          AND, UM, YOU KNOW, SO THERE'S AN ENGAGEMENT LETTER THAT INVOLVES ACTUALLY ALL THREE OF THOSE PARTIES, US THE STATE OF TENNESSEE, AND, UH, AND THE CITY. 
          WHAT PAGE PAGE ARE YOU ON? UM, SO THIS IS IN THE SEPARATE PAGE ONE. 
          PAGE ONE, OKAY. 
          IT'S REALLY ABOUT PAGE, PAGE THREE OR FOUR PAGES IN. 
          THAT'S WHAT I THOUGHT. 
          YEAH. 
          YEAH. 
          AND SO, UM, AS WE GO, UH, THROUGH THIS DOCUMENT, ACCOUNTING POLICIES AND PRACTICES, YOU'RE USING PREFERABLE ACCOUNTING POLICIES. 
          UH, THERE'S REALLY NOTHING NEW OR DIFFERENT, UM, IN TERMS OF ACCOUNTING POLICIES BETWEEN THIS YEAR'S AND LAST YEAR'S REPORT. 
          SO A PRETTY QUIET YEAR FROM A STANDARD STANDPOINT. 
          UM, SO WE DIDN'T HAVE ANYTHING SIGNIFICANT OR UNUSUAL THAT WE FEEL LIKE WE NEED TO REPORT TO YOU FROM A GOVERNANCE STANDPOINT. 
          UM, THERE ARE ESTIMATES AND FINANCIAL STATEMENTS. 
          WE'LL TALK BRIEFLY ABOUT THOSE IN A COUPLE OF PAGES, BUT IT'S MENTIONED HERE ON PAGE TWO. 
          UM, AND THEN, UH, JUST OTHER OBSERVATIONS ABOUT THE AUDIT. 
          WE'LL ALSO TALK ABOUT, UM, AUDIT ADJUSTMENTS, UM, YOU KNOW, HERE IN A MOMENT. 
          BUT, UM, YOU KNOW, THERE'S REALLY NO OTHER DISAGREEMENTS OR CONSULTATIONS OR SIGNIFICANT ISSUES OR DIFFICULTIES THAT WE HAVE TO REPORT TO YOU. 
          YOUR TEAM WAS FABULOUS TO WORK WITH AS, UH, IT SHOULDN'T BE A SURPRISE TO YOU, BUT, UH, BUT WE HAD A REALLY GOOD EXPERIENCE. 
          JULIE LED OUR ENGAGEMENT TEAM THROUGHOUT THE COURSE OF THE AUDIT. 
          SO GIVE HER WHERE THE CREDIT'S DUE, UM, FROM OUR SIDE OF THINGS. 
          BUT, UH, BUT YOUR TEAM WAS GREAT TO WORK WITH, AND SO, UH, YOU SHOULD BE, UH, FEELING GOOD ABOUT THAT. 
          UM, TO DO A FINANCIAL STATEMENT AUDIT, WE'VE GOTTA BE INDEPENDENT. 
          THERE'S A, A COUPLE OF NOTES HERE ABOUT, UH, THE INDEPENDENCE PROCESS UNDER GOVERNMENT AUDITING STANDARDS. 
          AND SO WE, UH, AS AN EXAMPLE, DO A SURVEY OF OUR TEAM TO ENSURE THAT WE DON'T HAVE ANY CONFLICTS THAT WOULD PRECLUDE US FROM DOING THE AUDIT. 
          AND THEN YOUR RESPONSIBILITIES ARE TO MAKE SURE THAT WE'RE UPDATED ON, UM, YOU KNOW, SOME OF THESE MATTERS AS WELL IN TERMS OF WHO'S IN A GOVERNANCE ROLE OR MANAGEMENT ROLE FOR THE CITY. 
          UM, AS WE FLIP OVER TO PAGE FIVE, YOU'LL SEE THE MOST NOTABLE ESTIMATES. 
          UM, AND THIS IS THE SAME FOR REALLY BOTH ECD AND THE CITY. 
          UH, BUT WE'VE GOT FOUR ITEMS THAT ARE, UM, LISTED HERE. 
          SO DEPRECIATION OF LONG LIVED ASSETS IS OF COURSE AN ESTIMATE. 
          UM, THERE ARE A COUPLE YEARS AGO, THERE WAS A NEW LEASE STANDARD, UM, MAYBE THREE YEARS AGO NOW. 
          IT'S, UM, YOU KNOW, BUT, UM, YOU KNOW, THE, UH, SAVITA AND, UM, YOU KNOW, IN LEASING STANDARDS, THERE'S, UH, THERE'S SOME ESTIMATES THERE, OF COURSE, ON, UM, YOU KNOW, DISCOUNT RATES, DIFFERENT KINDS OF THINGS, UH, WHERE THAT'S REPORTED ON YOUR, UH, IN YOUR FINANCIAL STATEMENTS. 
          AND THEN ON PAGE SIX, YOU'LL SEE, UH, THERE ARE ESTIMATES FOR THE ATTENTION LIABILITY AND THEN OTHER POST-EMPLOYMENT, UH, BENEFITS, UH, BASED ON ACTUARIAL TABLES, DIFFERENT, UH, TYPES OF THINGS THERE. 
          SO, UH, YOU ALL HAVE AN ASSESSMENT WITH ACTUARIES, THINGS LIKE THAT, THAT WE, UH, GATHER THROUGH, UH, THE COURSE OF OUR AUDIT. 
          UM, GREAT. 
          AND AS WE GO THROUGH THE REST OF THE LETTER, UH, THE, ANY ADJUSTMENTS THAT WE'VE GOT ON EITHER OF THESE, WERE, WERE QUITE ROUTINE. 
          UM, REALLY BOOKS WERE CLEAN. 
          UM, DON'T KNOW THAT THERE'S ANYTHING THAT WE REALLY NEED TO REPORT FROM AN ESTIMATE STANDPOINT THAT, UH, YOU KNOW, THAT, UH, THAT YOU ALL MIGHT BE INTERESTED IN. 
          SO, AND THEN AS WE WRAP UP THESE, UH, LETTERS, THERE'S ALSO A REPRESENTATION LETTER THAT WE GET 
          [00:05:01]
FROM, UH, FROM THE CITY THAT JUST BASICALLY SAYS, THESE ARE THE CITY'S FINANCIAL STATEMENTS. 
          WE PROVIDE AN OPINION ON THOSE STATEMENTS. 
          AND SO THE REPRESENTATION LETTER IS ACKNOWLEDGING THAT, UH, YOU'VE GIVEN US WHAT WE NEED, WHAT WE'VE ASKED FOR, UH, YOU'VE REVIEWED, EXCUSE ME, YOU'VE REVIEWED THE STATEMENTS AND THEIR, UM, AND THEY'RE COMPLETE. 
          SO NO ADJUSTMENT, NO ADJUSTMENTS, UH, NO ADJUSTMENTS OR ANY ADJUSTMENTS WERE REALLY JUST CONVERSION, YOU KNOW, PROCESS. 
          FOR THE MOST PART, THERE WASN'T ANYTHING IN ECD AND THERE WAS A NOMINAL ONE IN THE CITY. 
          OKAY. 
          RIGHT, RIGHT. 
          SO I'LL TURN IT OVER TO JULIE TO GO OVER SOME HIGHLIGHTS ON THE REPORTS THEMSELVES. 
          I'M REALLY JUST GONNA HIGHLIGHT THIS ONE, THE BIG CITY ACRONYM. 
          UM, AND I'M, AS YOU CAN SEE, THERE'S A LOT OF INFORMATION HERE, SO I'M REALLY NOT GONNA TOUCH TOO MUCH ON, ON THE ACTUAL CONTENTS. 
          UM, JUST TO TELL YOU ALL, AS KEN MENTIONED, THERE ARE THREE DIFFERENT SETS OF STANDARDS THAT WE FOLLOW. 
          SO THERE ARE THREE DIFFERENT REPORTS IN THIS, UM, LARGE FINANCIAL STATEMENT, UM, ABOUT MIDWAY, I WOULD SAY MAYBE 15, 20 PAGES IN IS ACTUAL PAGE ONE. 
          UM, IT HAS, IT HAS OUR LOGO ON THE TOP, BUT THIS IS THE START OF THE, OF THE AUDIT REPORT. 
          UM, THIS IS WHAT WE KIND OF SAY IS OURS AND EVERYTHING ELSE IS YOURS, UM, FOR THE FINANCIAL STATEMENTS. 
          BUT THIS IS THE REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS. 
          UM, IT STARTS OUT WITH THE OPINION. 
          SO YOU ALL HAVE A, WHAT'S CALLED AN UNMODIFIED OR A CLEAN OPINION. 
          SO THAT MEANS, UM, WE BELIEVE THE FINANCIAL STATEMENTS ARE FAIRLY STATED, AND IT GOES ON TO TALK ABOUT, UM, THE BASIS FOR OUR OPINION MANAGEMENT'S RESPONSIBILITY, OUR RESPONSIBILITY FOR THE AUDIT, AND THEN ALSO THE, UM, REPORTS ON SUPPLEMENTARY INFORMATION AND OTHER INFORMATION THAT'S INCLUDED. 
          AND IT ALSO, UM, ON PAGE THREE, REFERS TO THE REPORT REQUIRED UNDER GOVERNMENT AUDITING STANDARDS, WHICH IS TOWARDS THE BACK OF THIS DOCUMENT. 
          SO, BUT THAT SAYS THAT THE FINANCIAL STATEMENTS WE BELIEVE ARE FAIRLY PRESENTED IN ACCORDANCE WITH, UM, AUDITING STANDARDS AND GOVERNMENT AUDITING STANDARDS. 
          IF YOU WANNA FLIP BACK TO PAGE 1 57, WHICH IS PRETTY CLOSE TO THE BACK, THIS IS THE REPORT ON INTERNAL CONTROL AND COMPLIANCE, UM, ON AN AUDIT WITH GOVERNMENT AUDITING STANDARDS. 
          SO IF WE HAD ANYTHING TO REPORT TO YOU ALL ABOUT INTERNAL CONTROLS OVER FINANCIAL REPORTING, IT WOULD BE INCLUDED AS PART OF THIS REPORT. 
          IT GOES THROUGH TO DEFINE WHAT SOME DIFFERENT, UM, DEFICIENCIES COULD BE. 
          AND THEN BASICALLY CONCLUDES THAT THERE'S NOTHING WE NEED TO REPORT TO YOU ALL IN ACCORDANCE WITH GOVERNMENT FUNDING STANDARDS ON INTERNAL CONTROLS AND COMPLIANCE FOR FINANCIAL REPORTING. 
          AND THEN PAGE 1 59, WHICH IS THE NEXT REPORT, IS THE REPORT OVER YOUR MAJOR FEDERAL PROGRAM. 
          SO BECAUSE YOU ALL RECEIVED FEDERAL FUNDING IN EXCESS OF 750,000, WE'RE REQUIRED TO DO WHAT'S CALLED A SINGLE AUDIT. 
          SO WE DO A SPECIFIC AUDIT OVER THE FEDERAL GRANT PROGRAM, WHICH THIS YEAR AGAIN IS THE STATE AND LOCAL FISCAL RECOVERY, UM, PROGRAM, THE CONSTRUCTION OF SOME SEWER FACILITIES. 
          SO THAT'S THE SPECIFIC PROGRAM THAT WE LOOKED AT THIS YEAR. 
          UM, IT GOES THROUGH KIND OF THE SAME FORMAT. 
          IT TELLS YOU THE OPINION AND THEN THE BASIS FOR THE OPINION, BUT HAPPY TO REPORT THAT WE DON'T HAVE ANYTHING TO REPORT TO YOU ALL. 
          SO , IT IS, UH, ALSO A CLEAN UNMODIFIED OPINION RELATED TO THOSE FEDERAL WAR. 
          SO THAT'S KIND OF THE, THE HIGHLIGHTS OF THE FINANCIAL STATEMENTS AS FAR AS THE AUDIT PROCESS GOES. 
          UM, I WILL TELL YOU ALL IF YOU WANT A QUICKER SUMMARY OF WHAT ALL IS INCLUDED IN HERE. 
          UM, THE TRANSMITTAL LETTER THAT MANAGEMENT WRITES, AS WELL AS MANAGEMENT'S DISCUSSION AND ANALYSIS, WHICH STARTS ON PAGE FOUR, IS, UM, IS MANAGEMENT'S KIND OF BRIEF OVERVIEW OF THE CHANGES IN THE DIFFERENT FUNDS. 
          UM, THE ENTITY AS A WHOLE, SOME INFORMATION ABOUT SOME OF THE LARGER PROJECTS THAT OCCURRED DURING THE CURRENT YEAR. 
          UM, AND IT'S CONDENSED INTO ABOUT NINE OR 10 PAGES AS OPPOSED TO 160. 
          SO THAT WOULD BE ONE PLACE I WOULD TELL YOU TO GO, UM, CHECK OUT IF YOU WANNA SEE SOME HIGHLIGHTS. 
          OKAY. 
          AND JULIE, ONE OF THE THINGS THAT'S ALWAYS OF INTEREST TO THE COMMISSION IS THE FUND BALANCE. 
          MM-HMM . 
          THE GENERAL FUND. 
          AND THERE ARE SEVERAL LOCATIONS YOU COULD LOOK AT, BUT PAGE 12, THE BOTTOM PARAGRAPH ON PAGE 12, YOU WOULD FIND THAT AT THE WORK THE DE FUNDS AS WELL AS THE GENERAL FUND. 
          AND WE'LL FIND THE UNSIGNED FUND BALANCE TO BE 58 MILLION 188 981, WHICH REPRESENTS 91.8% THE TOTAL FISCAL YEAR, 2024 GENERAL FUND EXPENDITURES. 
          [00:10:01]
SO YES, THAT IS A VERY HEALTHY, UM, FUND BALANCE. 
          I, THAT, THAT . 
          ARE THERE ANY QUESTIONS? WE OUTTA CURIOSITY? UM, YOU ALL, THERE'S NO OPINION GIVEN ON THE OVER ACCRUAL OF THE DIFFERENT GENERAL LEDGER ACCOUNTS. 
          FROM YOUR PERSPECTIVE, YOU ARE JUST CHECKING TO MAKE SURE THAT THEY'RE, UM, ADEQUATELY THEY'RE, THEY'RE MATERIALLY CORRECT. 
          THERE'S NOT ANYTHING THAT WE THINK IS TOO, WE HAVE A THRESHOLD THAT WE CAN GIVE AN OPINION ON. 
          SO IT'S MORE JUST TO MAKE SURE THAT WE DO SOME TESTS OF THE VARIOUS BALANCES AND SEE IF THEY'RE WITHIN REASON. 
          ALRIGHT, THANK YOU. 
          ANY DIFFERENCES OR, UM, ACCOUNTING FOR THEY ASK QUESTION AND  UNDERSTANDING RIGHT DOWN THE MIDDLE OF THE FAIRWAY. 
          NICE. 
          NO DRAMA. 
          USUALLY THEY'RE PRETTY, I MEAN, SPOT ON AS FAR AS COMPENSATED ABSENCES, VACATION APPROVAL. 
          OKAY. 
          GOOD. 
          THANK YOU ALL. 
          THANK YOU VERY MUCH. 
          ANY OTHER CITIES THAT YOU DO, WOULD YOU SAY KAREN, HER AND HER TEAM ARE, THEY'RE VERY GOOD. 
          . 
          I JUST WANNA MAKE WE AGREE. 
          WE KNOW THEY ARE. 
          I SAY THAT THEY DO A VERY GOOD JOB TO FEEDBACK ON TOP OF THAT IN TERMS OF THE SHAPE, THE FINANCIAL SHAPE OF THE CITY. 
          MM-HMM . 
          THIS CITY IS IN, IN GOOD FINANCIAL SHAPE, I WOULD SAY COMPARED TO A LOT OF CITIES IN TENNESSEE. 
          WE'RE FORTUNATE THAT WE WORK WITH SOME, SOME CITIES WHO HAVE HEALTHY, FUN BALANCES, . 
          SO, BUT YOU ALL DEFINITELY ARE IN. 
          THANK YOU VERY MUCH. 
          ALRIGHT, YOU THANK YOU ALL. 
          GOOD DAY. 
          YOU TOO. 
          THANKS CHAIR. 
          THANKS MR. ONE MORE. 
          SO, COMMISSIONER, QUESTION FOR YOU. 
          WE HAVE THE AGENDA, WHICH CAN BE PRETTY QUICK TO GO THROUGH AND WE CAN DO THAT. 
          EVERYTHING'S GONNA BE ON CONSENT. 
          UH, WE ALSO HAVE SPORTS FACILITIES, COMPANIES, THEY'RE ACTUALLY ON THE PHONE AND READY TO TALK TO YOU WHENEVER YOU'RE READY. 
          WOULD YOU LIKE TO DO THE AGENDA FIRST OR WOULD YOU LIKE TO GO AHEAD AND TALK WITH THOSE FOLKS? DOESN'T MATTER. 
          THEY'RE ON THE PHONE. 
          GO AHEAD. 
          YEAH. 
          ALRIGHT. 
          OH, GREAT. 
          RIGHT NEXT TO ME. 
          . 
          THEY WANNA HIT ME, HANG UP ON THEM. 
          HEY GENTLEMEN, CAN YOU HEAR US? YEP. 
          I GOTCHA. 
          OKAY, FANTASTIC. 
          SO WE'VE GOT THE VIDEO PULLED UP. 
          UH, CITY COMMISSION HAS JUST CONCLUDED WITH OUR AUDITORS, AND WE'RE GONNA GO AHEAD AND TALK WITH YOU FOLKS AND, UH, SEE IF WE CAN GET SOME GUIDANCE ON FACILITY UTILIZATION. 
          AND WE'LL HELP YOU OR WE'LL, UH, HAVE YOU WALK THE CITY COMMISSION THROUGH KIND OF WHAT YOU NEED TO KNOW IN ORDER TO PREPARE THE ASSUMPTIONS THAT WILL BE IN THE FEASIBILITY STUDY. 
          AND SO, RYAN FERGUSON AND KEVIN SHU ARE ON THE PHONE FROM SPORTS FACILITIES COMPANIES OR THEIR CONSULTING ARM, WHICH IS SPORTS FACILITIES ADVISORY. 
          GENTLEMEN, I'M GONNA TURN IT OVER TO YOU. 
          VERY GOOD. 
          WELL, THANK YOU GUYS SO MUCH. 
          UH, CAN YOU GUYS HEAR ME OKAY? YES, SIR. 
          OKAY. 
          UH, AND THEN CAN YOU SEE MY SCREEN? YES. 
          YES. 
          OKAY, VERY GOOD. 
          WELL, THANK YOU FOR YOUR TIME TODAY. 
          UM, EXCITED TO MEET WITH YOU. 
          MY NAME IS KEVIN CHU. 
          I AM AN ACCOUNT EXECUTIVE WITH SPORTS FACILITIES COMPANIES. 
          UH, RYAN FERGUSON IS PROJECT MANAGER, UH, ON THIS PROJECT AS WELL WITH SPORTS FACILITIES COMPANIES. 
          WE ARE, UH, ON THE ADVISORY SIDE. 
          AND SO WE'LL WALK THROUGH BRIEFLY OUR ORGANIZATION, BUT WE ALSO UNDERSTAND, UH, WE'LL BE, WE'LL BE VERY BRIEF WITH THAT BECAUSE I THINK YOU GUYS ARE AWARE OF OUR COMPANY AND WHAT WE DO. 
          UM, BUT OUR ROLE, RYAN AND MYSELF AND THE REST OF OUR TEAM IN CLEARWATER, UH, IS TO ASSIST ON ADVISORY SERVICES. 
          SO PRE-DEVELOPMENT SERVICES, SO SPECIFICALLY FINANCIAL, PROMA FACILITY RECOMMENDATIONS, ECONOMIC IMPACT ANALYSIS, OPINION OF COST FOR DEVELOPMENT. 
          UH, WE DO ALL THOSE SERVICES, UH, IN ORDER TO, EXCUSE ME, UM, IN ORDER TO PROVIDE SUPPORT FOR THE PROJECT, UH, PRIOR TO DEVELOPMENT SO YOU UNDERSTAND WHAT THE FINANCIAL 
          [00:15:01]
METRICS ARE, WHAT THE EXPECTATIONS FOR, UH, FOR THE FACILITY ARE GOING TO BE AFTER IT'S DEVELOPED. 
          OBVIOUSLY YOU WANT TO UNDERSTAND THAT BEFORE THE FACILITY IS, UH, BUILT FOR A, A LOT OF OBVIOUS REASONS. 
          UM, SO FOR TODAY, WE'LL WALK THROUGH AGAIN REAL BRIEFLY. 
          WE HAVE SOME SLIDES HERE ON OUR, ON OUR COMPANY. 
          WE'LL BE VERY QUICK WITH THAT. 
          AND THEN WE JUST HAVE SOME GENERAL QUESTIONS FOR YOU, UH, THAT WILL GIVE US A LITTLE GUIDANCE AS WE BUILD OUT THAT FINANCIAL PERFORMA AND UNDERSTAND A LITTLE MORE THE METRICS, UH, AND THE GOALS, UH, YOUR GOALS AND YOUR VISION FOR THE, FOR THE PROJECT, UH, AS WE BUILD OUT THE, THE DEFINITIONS AND, AND THE FINANCIAL PERFORMANCE METRICS. 
          SO, REAL QUICK, UH, WALKTHROUGH, UH, INTRODUCTIONS, AGAIN, THAT OVERVIEW AND SCOPE OF WORK WILL BE VERY QUICK. 
          AND THEN WE'LL JUMP TO OUR DISCUSSION. 
          UH, SSC FOUNDED IN 2003 WITH THE MISSION TO IMPROVE THE HEALTH AND ECONOMIC VITALITY OF THE COMMUNITIES WE SERVE. 
          WE HAVE THREE ARMS OF OUR ORGANIZATION ADVISORY, WHICH I DISCUSSED OUR DEVELOPMENT, WHICH WE ASSIST ON A NUMBER OF DEVELOPMENT SERVICES THAT YOU SEE THERE UP ON THE SCREEN, UH, MANAGEMENT WHERE WE DO MANAGE FACILITIES THROUGHOUT THE COUNTRY. 
          AND THEN OPTIMIZATION OF THOSE FACILITIES, UH, SUCH JUST OUR, OUR SUPPORT NETWORK, OUR NATURAL, OUR NATIONAL RESOURCES THAT WE CAN REACH OUT AND, AND CONNECT AND MAKE SURE THAT, UH, THESE FACILITIES ARE BEING OPTIMIZED AND ARE REACHING THE, UH, THE DEFINITIONS OF SUCCESS IS LAID OUT, UM, TO US FROM OUR CLIENTS. 
          UH, A LITTLE MORE INFORMATION FROM, UH, WE HAVE ABOUT 70 VENUES THROUGHOUT THE COUNTRY. 
          UH, AND SO ON THE ADVISORY SIDE, JUST TO GIVE A LITTLE BIT OF BACKGROUND ON THAT, UH, WHAT THAT ALLOWS US TO DO IS PULL REAL WORLD DATA. 
          SO INFORMATION COMING FROM FACILITIES THAT WE DO MANAGE, UM, BECAUSE WE DO MANAGE THOSE FACILITIES. 
          SO WHEN WE MAKE PROJECTIONS, WE UNDERSTAND WE HAVE TO MAKE THESE ROOTED IN REALITY. 
          RIGHT THERE, THERE'S A, UH, NOBODY WANTS TO DEVELOP A FACILITY ON FALSE PRETENSES AND THEN FIND OUT LATER THAT IT'S NOT, IT'S NOT PERFORMING THE WAY THAT THEY BELIEVE IT, UH, BECAUSE WE WALKED INTO THOSE SITUATIONS AND UNDERSTAND SOMEBODY WILL HAVE TO MANAGE THOSE EXPECTATIONS, WHETHER IT'S US, WHETHER IT'S A MUNICIPALITY OR ANOTHER THIRD PARTY ORGANIZATION. 
          OUR, OUR SCOPE OF WORK HERE, UH, IS PRETTY STRAIGHTFORWARD. 
          UH, KICKOFF CALL, OBVIOUSLY WE, WE'VE WALKED THROUGH ALL THAT. 
          WE ARE RIGHT NOW AT STEP FOUR, WHICH IS A DETAILED FINANCIAL FORECAST, UH, IN THE PROFORMA. 
          UH, I BELIEVE YOU GUYS HAVE ALREADY SEEN OUR CONCEPT TO CONCRETE APPROACH. 
          THIS IS OUR THREE YEAR, UH, INTERNAL OUTLOOK ON VENUES FROM PREDEVELOPMENT INTO OPERATIONAL AND AND BUILT FACILITY. 
          UM, AND THEN OUR, OUR PROCESS. 
          AND SO WE, UH, WE HAD OUR DEVELOPMENT PLANNING SESSION EARLIER, AND THEN CONVERSATIONS LIKE THIS REALLY HELP THE PROJECT. 
          WHEN WE TALK ABOUT DEFINITIONS OF SUCCESS, UH, THAT'S DIFFERENT FROM PROJECT TO PROJECT COMMUNITY TO COMMUNITY PROJECTS ARE GENERATE AS MUCH ECONOMIC IMPACT AS POSSIBLE. 
          WE DON'T CARE ABOUT THE SUBSIDY REQUIRED TO SUPPORT THE FACILITY. 
          OTHER PROJECTS ARE THIS, THIS FACILITY HAS TO BE OPERATIONALLY PROFITABLE. 
          UM, AND WE DON'T CARE ABOUT ECONOMIC IMPACT. 
          IT IS REALLY FROM COMMUNITY TO COMMUNITY. 
          SO WE REALLY WANT TO HONE THAT IN AND MAKE SURE THAT WE UNDERSTAND WHAT THOSE DEFINITIONS OF SUCCESS ARE. 
          UH, WE FILTER THAT THROUGH OUR MARKET ANALYSIS. 
          AND SO OUR TEAM BACK IN FLORIDA DOES A GREAT JOB OF BREAKING DOWN THE RESEARCH, UH, AND DEVELOPING, YOU KNOW, WHAT, WHAT THE MARKET LOOKS LIKE, WHETHER IT CAN SUPPORT FACILITIES TO WHAT MEASURE IT CAN SUPPORT THESE KINDS OF ACTIVITIES, UH, AND AND THE NEED FOR THAT, UH, THROUGH DEMOGRAPHICS, PARTICIPATION RATES, COMPETITION MARKET COMPETITION MARKET CAPTURE, THE KIND OF POPULATION YOU HAVE, AND, UM, SOME OF THOSE BREAKDOWNS. 
          AND THEN WE FILTER THAT THROUGH OUR INDUSTRY EXPERIENCE AND A LOT OF OUR RESOURCES INTERNALLY, UH, AND THROUGH OUR STRATEGY TO ARRIVE AT OUR RECOMMENDATIONS. 
          SO WE'RE AT THE INTERACTIVE PORTION OF THIS. 
          UH, I HOPE THAT WASN'T, UH, TOO REDUNDANT. 
          I KNOW YOU GUYS HAVE SEEN A LOT OF THAT INFORMATION. 
          UM, SO HERE'S, UH, REALLY AGAIN, WE WANNA KIND OF TURN SOME OF THESE QUESTIONS OVER TO YOU GUYS AND, UH, I CAN STOP, I CAN STOP RAMBLING FOR A MINUTE. 
          BUT, UH, WE, I WANNA OPEN UP WITH THIS QUESTION AND I'LL EXPLAIN HOW WE, WE USE THIS ON OUR SIDE. 
          SO WHEN WE BUILD OUT THE FINANCIAL PROFORMA, UM, UNDERSTAND THAT THERE'S, YOU KNOW, WE WE'RE GONNA BE VERY SPECIFIC WITH THAT TO, TO THE POINT WHERE WE'RE GONNA GIVE YOU TO THE DOLLAR, THE EXPECTATIONS AND PROJECTIONS OF REVENUE STREAMS, EXPENSES, OPERATIONAL EXPENSES, UH, ECONOMIC IMPACT, EXPECTATIONS FOR THAT. 
          UH, AND THE, AND THE NUMBER OF EVENTS THAT YOU GUYS WILL BE GENERATING AND THE AMOUNT OF UTILIZATION AND, AND, UM, WE CALL 'EM DOOR SWINGS OR PEOPLE THAT ARE BECOMING IN YEARLY, UH, ANNUALLY. 
          SO WITH THAT, UH, WANNA UNDERSTAND FIRST, YOU KNOW, FAST FORWARDING 10 YEARS, WHAT'S WORTH ACCOMPLISHING OR WHAT'S WORTH CELEBRATING? AND SO THAT'S OUR DEFINITION OF SUCCESS. 
          WHAT DOES SUCCESS MEAN TO YOU? WE'RE LOOKING, WE'RE, WE'RE PROJECTING OUT 10 YEARS FROM NOW. 
          UH, WHAT ARE THOSE METRICS? WHAT ARE, WHAT ARE WE LOOKING AT TO ACCOMPLISH WITH THIS PROJECT? AND I WILL, I'LL PAUSE HERE AND, UH, 
          [00:20:01]
I KIND OF JUST TURN IT OVER TO A GROUP, ANYBODY THAT WANTS TO JUMP IN. 
          HMM. 
          A BROAD QUESTION. 
          COMMISSIONERS FROM STAFF'S POINT OF VIEW, OUR FEEDBACK THAT WE GAVE THEM ON THIS WOULD BE THAT WE HAVE A FULLY UTILIZED FACILITY THAT, UH, MORE THAN BREAKS EVEN. 
          IT PROVIDES ADEQUATE, UH, FUNDING FOR FUTURE RENEWAL AND REPLACEMENT OF THE BUILDING. 
          UH, BEYOND THAT, MAXIMIZING REVENUE IS NOT NECESSARILY THE GOAL, BUT PROVIDING A QUALITY FACILITY THAT THE COMMUNITY ENJOYS AND USES TO ITS FULLEST, UH, WHILE FULLY PAYING FOR ITSELF AND ITS FUTURE REPLACEMENT WOULD BE OUR VISION OF SUCCESS. 
          UM, I DON'T KNOW IF THAT ACCURATELY CAPTURES HOW THE COMMISSION FEELS. 
          IT DOES. 
          YEP, IT DOES. 
          GOOD, GOOD STUFF. 
          JAY. 
          THIS IS A LITTLE BIT OF A DIFFERENT WAY, UM, TO KIND OF LOOK AT, UH, AMENITIES THAT WE HAVE, UH, IN THE, UH, IN THE CITY BECAUSE THIS WOULD, IF IN FACT YOU CAN DO THAT, UM, IT WOULDN'T BE A SUBSIDIZED AMENITY. 
          YOU KNOW, YOU LOOK AT, UH, ALL THE OTHER AMENITIES THAT WE HAVE ACROSS THE CITY WITHIN THE PARKS AND LIBRARY AND ALL THAT, THOSE ARE ALL SUBSIDIZED. 
          SO, GOOD. 
          GENTLEMEN, WERE YOU ABLE TO HEAR THAT? YEP. 
          YEAH. 
          VERY GOOD. 
          SO, SO ONE OF THE KEY GOALS, I GUESS, AND I'M JUST GONNA SAY THIS BACK TO YOU AND MAKE SURE I'M, I'M UNDERSTANDING IS, UM, SELF-SUSTAINING FINANCIALLY LONG TERM, RIGHT OFF OFFSETTING THE OPERATIONAL EXPENSES YEAR TO YEAR. 
          SO THERE'S NO, THERE'S NO ONGOING SUBSIDY TO SUPPORT THE OPERATIONS OF THE FACILITY. 
          IS THAT, IS THAT CORRECT? CORRECT. 
          AND SO AS WE'VE DISCUSSED, UNLIKE MANY COMMUNITIES THAT YOU WORK WITH, MAXIMIZING, YOU KNOW, UH, HOTEL BEDS BEING UTILIZED FOR TOURNAMENTS AND THINGS LIKE THAT. 
          AS AN ECONOMIC DEVELOPMENT DRIVER, THAT'S NOT REALLY OUR GOAL. 
          IT'S AN AMENITY FOR OUR COMMUNITY AND IT'S REPLACING LOST COURT SPACE. 
          UM, SO WE MAY BE A LITTLE DIFFERENT FROM, YOU KNOW, MOST OTHER CLIENTS. 
          UH, THAT'S NOT, THAT'S, YOU KNOW, NOT PART OF OUR GOAL. 
          UM, BUT THAT IS OUR GOAL. 
          UM, YEAH, JUST TO HAVE A QUALITY FACILITY AND FOR IT TO PAY FOR ITSELF. 
          I, I THINK THE OTHER PIECE I'D ADD INTO THAT IS WE WOULD LIKE THAT FOR THE GRIT WOOD CITIZENS TO BE OUR FOCUS. 
          WE'RE NOT BUILDING THIS FOR WILLIAMSON COUNTY, WE'RE BUILDING THIS FOR BRENTWOOD. 
          AND WE'D LIKE RESERVATION AND USE TO BE VERY FOCUSED TOWARD BRENTWOOD RESIDENTS WITH MAYBE WITH THE OPPORTUNITY OF AFTER BRENTWOOD RESIDENTS NEEDS ARE MET SO THAT WE CAN HAVE FULL OR CLOSE TO FULL UTILIZATION. 
          I THINK WE ARE OPEN TO OPENING IT UP TO OTHERS IN THE COUNTY SO THAT WE, YOU KNOW, IT DOESN'T HAVE TO BE SOLELY BRENTWOOD RESIDENTS, BUT WE WANT THAT TO BE THE FOCUS AND THEN TO MAKE SURE IT'S UTILIZED. 
          WE CAN OPEN IT UP TO OTHERS IN THE COUNTY THAT WOULD WANT TO COME PARTICIPATE AND PAY IF THERE'S AVAILABLE CAPACITY AFTER SUCH DATE, YOU FLIP IT OPEN. 
          YEAH. 
          AND I'M SURE YOU HAVE MODELS THAT WORK LIKE THAT, SO YOU CAN SHARE WITH US YOUR THOUGHTS ON THAT. 
          YES. 
          YEAH. 
          SO, UM, THAT'S, AND THAT'S REALLY IMPORTANT TO KNOW AND THANK YOU FOR SAYING THAT. 
          SO, UH, I'LL JUST PULL FROM MY OWN PERSONAL EXPERIENCE. 
          I WORKED IN PARKS AND RECREATION FOR, UH, ABOUT 12 YEARS PRIOR TO JOINING S AT C. 
          UM, SO THERE'S A NUMBER OF WAYS WE CAN DO THAT. 
          AND ON THE ASSUMPTION FOR THE PROMA, UH, THAT'S GOOD INFORMATION TO HAVE. 
          SO THERE'S WAYS WE TALK ABOUT PRIORITY USAGE. 
          SO BRENTWOOD RESIDENTS WOULD'VE PRIORITY USAGE, UH, OF THE FACILITY. 
          AND WHAT DOES THAT MEAN? IS THERE'S RESIDENT SPECIFIC RESIDENT RATES, UM, THAT MAY COME IN, YOU KNOW, A LITTLE LOWER THAN SOMEBODY WHO LIVES OUTSIDE OF THE CITY OF REDWOOD. 
          YEAH. 
          UM, WE CAN RESERVE COURT TIME FOR RESIDENCE, THOSE KINDS OF THINGS. 
          SO THAT'S, THOSE, THOSE ARE GOOD ASSUMPTIONS TO HAVE. 
          AND I'M SURE YOU HAVE A TECHNOLOGY THAT WOULD BE ABLE TO DO THAT VERY EASILY AND VERIFY ADDRESSES AND ALL THAT. 
          AND THAT WOULD BE SOMETHING THAT YOU WOULD DO ON YOUR SIDE? THAT'S RIGHT. 
          YEP. 
          YEAH, SO WE WOULD VERIFY. 
          IT COULD BE BASED ON ZIP CODE. 
          UM, PEOPLE COME IN AS PROOF OF RESIDENCY THAT THEY WOULD, THEY WOULD COME IN AND, AND SHOW US, AND THAT WOULD, THAT WOULD GET THEM THE FEE STRUCTURE. 
          UM, WE HAVE A LITTLE BIT, THAT'S THE RESIDENT RATE. 
          WE HAVE A LITTLE BIT OF A COMPLICATED ZIP CODE SITUATION BECAUSE NOT EVERYONE WHO LIVES IN THE ZIP CODE ACTUALLY LIVES WITHIN THE CITY LIMITS. 
          SO IT MAY NEED TO HAVE DRILLED DOWN ONE MORE LAYER OF VERIFICATION FOR THAT. 
          AND WE HAVE THAT DATA, UH, THROUGH FINANCE DEPARTMENT, THEY'RE ABLE TO TRACK, UM, UH, SALES TAX, UH, TO INDIVIDUAL ADDRESSES. 
          I, I THINK THE OTHER FOCUS BASED ON WHAT WE'VE HEARD FROM OTHER PEOPLE IS, UM, WE'D LIKE THE YOUTH, THE YOUTH TO BE ABLE TO FULLY, FULLY UTILIZE THIS. 
          THERE SEEMS TO BE A QUITE A WAITING LIST FOR YOUTH 
          [00:25:01]
TO SIGN UP TO PARTICIPATE AND, UH, GET LESSONS, ET CETERA. 
          SO, UM, YOU KNOW, I GUESS WHEN I'M LOOKING AT THIS, YOU REALLY WANT IT FROM, YOU WANT IT FROM YOUTH ALL THE WAY TO SENIORS, BUT, UH, WE DON'T WANT TO, DON'T WANNA LEAVE ANYBODY OUT. 
          WE WANT, ESPECIALLY WITH THE YOUTH PROGRAM. 
          'CAUSE THAT'S THE FUTURE. 
          AND THAT'S A REALLY GOOD POINT. 
          AND GO AHEAD. 
          SORRY. 
          I JUST WAS GONNA SAY, AND I THINK, I MEAN THE, THE IDEA BEING MAYBE, YOU KNOW, THE AFTERNOONS AFTER SCHOOL WHEN THEY'RE AVAILABLE, WHEN THE KIDS ARE OUTTA SCHOOL YEAH. 
          HEAVILY PROGRAMMED FOR, FOR YOUTH, UM, CLINICS AND THE PROS IN THEIR TEACHING 'EM AND SO FORTH. 
          UH, 'CAUSE THAT'S, THAT'S WHAT THEY WANT. 
          THAT ADDITIONAL, UM, LEVEL OF INSTRUCTION FOR THESE KIDS THAT ARE, WHETHER THEY'RE PLAYING AT SCHOOL OR JUST WANTING TO GET INVOLVED IN THE SPORT. 
          BUT THAT SEEMS TO BE A HUGE DEMAND AFTER SCHOOL. 
          WE, WE TALKED ABOUT POTENTIAL PARTNERSHIPS. 
          IS THERE, THERE, EXCUSE ME. 
          ARE THERE, UH, OPPORTUNITIES FOR, UH, PARTNERSHIPS WITH THE SCHOOL DISTRICT AND, AND I HAVE A LITTLE BIT OF INFORMATION TO BACK TO STUFF, BUT HAS THERE BEEN ANY DISCUSSION ON THAT WITH THE LOCAL SCHOOL DISTRICT? NO. 
          UH, NO. 
           , WE, WE DO THE, GO AHEAD, LET THE SCHOOLS UTILIZE OUR OUTDOOR COURTS CURRENTLY AT NO CHARGE. 
          RIGHT. 
          AND SO THAT IS A TECHNICAL PARTNERSHIP THAT WE'VE ALREADY DEALT WITH THEM. 
          UM, IS THERE A DESIRE TO HAVE A PARTNERSHIP ON THE INDOOR FACILITY OR IS THAT JUST A D THAT'S A DIFFERENT, SORT OF A DIFFERENT STRATEGY. 
          I, AND I THINK THAT, SO OUR HIGH, ONE OF OUR HIGH SCHOOLS HAS THEIR OWN OUTDOOR COURTS. 
          AND OUR OTHER HIGH SCHOOL DOESN'T HAVE COURTS, BUT THE CITY BASICALLY, YOU KNOW, ALLOWS THEM, UM, EVERY AFTERNOON AFTER SCHOOL DURING THEIR, THEIR TENNIS SEASONS TO USE OUR OUTDOOR COURTS. 
          UM, I PERSONALLY THINK BECAUSE WE WANNA MAXIMIZE PROGRAMMING FOR INSTRUCTIONS FOR, UM, YOUTH AND, AND PROS THAT THAT NEEDS TO REMAIN SEPARATE FROM THE SCHOOL FUNCTIONS. 
          UM, I MEAN, WHAT HAPPENS IS A LOT OF THESE KIDS WHO PLAY ON THESE TENNIS TEAMS WILL GO TO FACILITIES AND PAY FOR THAT ADDITIONAL INSTRUCTION. 
          SO I DON'T THINK THE GOAL OF THE INDOOR COURTS IS TO PROVIDE FREE USE. 
          'CAUSE WE DO, THEY DO HAVE FREE USE ON THE OUTDOOR COURTS. 
          IT'S MORE FOR THAT ONGOING YEAR ROUND, UM, INSTRUCTION OF PROS, UM, INDOORS THAT THEY WOULD OBVIOUSLY, UH, PAY FOR ON THEIR OWN, LIKE THEY WOULD ANY OTHER TEAM THAT THEY'RE A PART OF THAT'S, YOU KNOW, A TRAVEL SOCCER OR WHATEVER. 
          AND OBVIOUSLY THEY'RE USED TO DEALING WITH THE SCHEDULING CONFLICTS THAT HAPPEN WITH WEATHER, UM, SCHEDULING CHALLENGES WHEN THINGS GET, THEY'RE USED TO DEALING WITH THAT. 
          SO PROBABLY WOULD OPERATE UNDER THE SAME MODEL. 
          YOU KNOW, I, I DON'T KNOW IF WE CAN ADEQUATELY PROGRAM THE FACILITY AND TRY AND RESERVE, YOU KNOW, RAIN OUT DATES AND STUFF LIKE THAT FOR THE, FOR THE SCHOOLS. 
          I THINK THAT'D BE A BIT OF A CHALLENGE AND STILL MAKE FULL USE OF OUR FACILITY. 
          RIGHT. 
          YEAH, WE'VE, SO WE WORKED WITH, OBVIOUSLY WE HAD A NUMBER OF FACILITIES, A NUMBER OF DIFFERENT PARTNERSHIP STRUCTURES. 
          UM, I, I DON'T KNOW, I GUESS LEMME ASK THIS QUESTION. 
          UM, AS YOU SAY, A LOT OF THESE PARTNERSHIPS YOU PROVIDE SOME OF THESE FACILITIES, AND MAYBE I'M MAKING ASSUMPTIONS THAT ARE INCORRECT, BUT, UM, IT SOUNDS LIKE A LOT OF THESE ARE, ARE FREE TO PUBLIC PARTNERS. 
          IS THAT HOW THIS IS ENVISIONED AS WELL? NO, TO PROVIDE FREE. 
          OKAY. 
          SORRY, I JUST WANTED TO MAKE SURE THAT THAT'S, IF THERE'S ANY ASSUMPTION THAT WE NEED TO MAKE WITHIN THE PROFORMA FOR, UM, NOT ACCOUNTING FOR REVENUE SOURCES THROUGH SPECIFIC USAGE BEING, YOU KNOW, POTENTIAL SCHOOL DISTRICT PARTNER OR ANY OTHER LOCAL ORGANIZATION AND THEY'RE GONNA GET FREE UTILIZATION, WE WANNA MAKE SURE WE ACCOUNT FOR THAT IN THE PROMA. 
          I DON'T THINK THAT'S THE GOAL FOR THE INDOOR COURTS. 
          OKAY. 
          UM, AND THEN JUST GETTING WAY AHEAD OF MYSELF, IT'S GOOD TO HEAR, BECAUSE SOUNDS LIKE ONE OF THE GOALS IS TO MAKE SURE THAT THIS FACILITY BREAKS EVEN OR GENERATES PROFIT OPERATIONALLY. 
          AND UM, OBVIOUSLY THAT PROVES PRETTY DIFFICULT THAT WE'RE, YOU KNOW, GIVING OUT FOR FREE RIGHT. 
          UM, TO LOCAL GROUPS. 
          SO, OKAY. 
          AND TALK A LITTLE BIT ABOUT THE NEED BECAUSE THIS IS A, A LARGE, A PRETTY LARGE FACILITY. 
          AND MY UNDERSTANDING IS THIS IS A, UM, I GUESS REPLACEMENT OF, OF EXISTING FACILITIES OR FACILITIES THAT NEED TO BE, UM, RENOVATED. 
          SO THE NEED FOR, UH, OR, OR THE, THE VISION FOR, I GUESS, UH, EVENTS, HOSTING REGIONAL EVENTS. 
          I KNOW THAT ONE OF THE GOALS IS NOT HEADS AND BEDS. 
          SO OBVIOUSLY THAT CONVERSATION TYPICALLY IS CENTERED AROUND HOSTING REGIONAL TOURNAMENTS, UH, TENNIS 
          [00:30:01]
PICKLEBALL, THOSE KINDS OF THINGS. 
          UH, CAN YOU TALK A LITTLE BIT ABOUT, YOU KNOW, WHAT THE VISION IS THERE FOR HOSTING OR THE ABILITY TO HOST, UH, NATIONAL, REGIONAL SUBREGIONAL LOCAL EVENTS? UM, THE COMMUNITY HAS SAID, THE CITIZENS HAVE SAID THEY DON'T WANT IT TO BE A LOCATION WHERE PEOPLE NATIONALLY COME FROM. 
          I THINK THEY'RE MORE ENVISIONING THE USERS, WHETHER IT BE CITY OF BRENTWOOD OR THE YOUTH, OR IF WE EXPAND IT TO THE COUNTY INTERNAL USERS HAVING TOURNAMENTS, UM, ON OCCASION, NOT, NOT AN ONGOING REGULAR THING DUE TO TRAFFIC ISSUES, BUT, YOU KNOW, ON THE WEEKENDS, UM, WHEN WE, THIS IS GONNA BE LOCATED REALLY CLOSE TO A SCHOOL IN A CHURCH. 
          AND SO WE'RE NOT TRYING TO BRING IN MASSIVE, A MASSIVE NATIONAL ATHLETIC FIELDS AND SOME ATHLETIC FIELDS. 
          WE'RE NOT TRYING TO BRING IN, UM, NATIONAL TOURNAMENTS BY ANY MEANS. 
          I MEAN, OUR OTHER ATHLETIC FIELDS NEAR THERE DO HAVE SOCCER TOURNAMENTS A COUPLE TIMES A A YEAR. 
          SO THAT WOULD BE THE MAX. 
          JUST 'CAUSE WE'VE HEARD FROM RESIDENTS, THEY DON'T WANT, YOU KNOW, OUTSIDE HUGE OUTSIDE TOURNAMENTS COMING IN, MORE INTERNAL WITHIN THE PLAYERS THEMSELVES AND IN THIS GENERAL AREA. 
          GOT IT. 
          OKAY. 
          IN REGARDS TO, UH, FUTURE GROWTH WITHIN THAT AREA, AND YOU MENTIONED THERE'S A, A SCHOOL IN THE CHURCH IN THAT SPACE. 
          UH, AND, AND I, I, I'LL, I'LL GET TO MY POINT HERE, BUT I WANNA ASK, UH, ANCILLARY DEVELOPMENT, SO COMMERCIAL DEVELOPMENT AROUND THIS, IS THERE, IS THERE ANYTHING SLATED? IS THERE, UM, YOU KNOW, A FUTURE, AND I APOLOGIZE, WE'RE NOT, WE, BRIAN AND MYSELF HAVEN'T BEEN ON SITE. 
          NO. 
          UM, BUT IS THERE, IS THERE ANY VISION FOR THAT COMING ON BOARD, UM, IN THE FUTURE FOR THIS AREA? OR IS THIS, THERE'S NOT MORE LOCALLY FOCUSED? NO, IT'S SA IT'S SANDWICHED IN THE MIDDLE OF RESIDENTIAL AREAS AS WELL. 
          THE PARK IS, AND THAT'S NOT AT ALL ON THE HORIZON. 
          OKAY. 
          SO THEN WHEN WE TALK ABOUT REVENUE GENERATION INSIDE THE FACILITY, UM, YOU KNOW, OBVIOUSLY THERE'S A, A COUPLE KEY REVENUE STREAMS THAT COME IN. 
          IT'S, IT'S CORE RENTAL, IT'S PROGRAMMING, UM, AND THEN THERE'S, YOU KNOW, ANCILLARY, SO FOOD AND BEVERAGE, UH, SPACES AS WELL. 
          AND SO WE TALKED A LITTLE BIT ABOUT THAT, THAT VISION OF KEEPING PEOPLE ON SITE, UH, WITH THE GOAL OF, OF GENERATING REVENUE AT THE FACILITY. 
          CAN YOU TALK A LITTLE BIT TO THAT AS FAR AS YOUR VISION FOR ANY OF THE ANCILLARY SPACES OUTSIDE OF THE COURTS? OR IS THE, IS THE MAIN FOCUS TO, TO GIVE PEOPLE A, A, YOU KNOW, A A HEALTHY SOCIAL OUT OUTLET TO, UM, YOU KNOW, TO TO PLAY AND, AND, UH, OPERATE WITHIN THE, THE FACILITIES THEMSELVES, UM, BUT NOT NECESSARILY DRIVE A LOT OF REVENUE INSIDE THE VENUE ITSELF. 
          SO I THINK THAT, UM, BECAUSE THERE'S NOTHING AROUND THEIR COMMERCIAL AND WE DON'T WANT THERE TO BE, IF THERE'S A NEED TO KIND OF PULL THAT LEVER OF HAVING SOME FORM OF ONSITE CONCESSIONS FOR THE INTERNAL USERS, WE CERTAINLY WANT IT TO MM-HMM . 
          WOULD NOT WANT IT TO BE, UM, A BIG ENOUGH THING THAT, YOU KNOW, PEOPLE ARE COMING FROM ELSEWHERE IN THE CITY JUST TO EAT THERE, ANYTHING LIKE THAT. 
          BUT FOR THE INTERNAL USERS, UM, TO USE IT, IF THAT'S A LEVER WE NEED TO PULL, I THINK AT SOME, SOME LEVEL WE'RE, I THINK WE'RE OKAY WITH THAT TO, IF WE ARE, IF THE GOAL IS TO, UM, HAVE THIS FINANCIALLY, YOU KNOW, UM, BREAK EVEN OR MAKE MONEY, THEN THAT'S A LEVER WE CAN PULL. 
          BUT NOT SOMETHING SO LARGE THAT WE'RE TRYING TO BE SOME RESTAURANT DE DESTINATION FOR PEOPLE THAT AREN'T EVEN PICKLE OR PICKLEBALL OR TENNIS PLAYERS. 
          COULD YOU ELABORATE A LITTLE MORE ON HOW BIG IT'S BIG ENOUGH? WELL, AND I DON'T, THAT'S WHERE THAT THE PROFORMA WOULD HELP US TO KNOW. 
          WELL, COULD HE ELABORATE ON THAT? MAYBE? I DON'T KNOW. 
          DUNNO IF YOU HEARD, WAS THERE, I MISSED THE QUESTION. 
          IF THERE WAS A QUESTION, KEVIN, I GUESS THERE, YOU KNOW, THE COMMISSIONER WOULD LIKE A LITTLE GUIDANCE ON WHAT YOU THINK IS NECESSARY FOR THE FACILITY TO BE SUCCESSFUL IN ORDER TO SUPPORT THE INTERNAL USERS OF THE FACILITY. 
          AND WE HAD A LITTLE BIT OF CONVERSATION ABOUT, YOU GUYS WERE EDUCATING ME THAT PICKLEBALL IS A SOCIAL SPORT AND THERE MAY BE A HIGHER LEVEL OF SERVICE EXPECTATION THERE THAN THERE IS FOR TENNIS. 
          CAN YOU ELABORATE ON THAT A LITTLE BIT? ABSOLUTELY. 
          YEAH. 
          SO, UM, WHAT WE SEE WITHIN THE INDUSTRY IS PICKLEBALL IS, IS IS VERY MUCH A, UM, LIKE YOU SAID, A SOCIAL SPORT. 
          SO PEOPLE ARE COMING OUT TO ENGAGE AND, UM, YOU KNOW, INTERACT AND SOCIALIZE, UH, AS, AS MUCH AS COMPETING. 
          AND OBVIOUSLY THERE'S A VERY, THERE, THERE'S VARYING RANGES OF COMPETITION. 
          UH, WE OBVIOUSLY, THE CONVERSATION HERE, THIS IS A MORE LOCAL FOCUSED, UH, FACILITY. 
          [00:35:01]
SO NOT, NOT HOSTING NATIONAL TOURNAMENTS OF THOSE THINGS. 
          UM, THE IMPORTANCE OF THE SUCCESS OF THE FACILITY IS USER EXPERIENCE. 
          AND WE WANT PEOPLE TO WANT TO COME BACK HERE AND SPEND THEIR MONEY INSIDE THE FACILITY, UH, IN ORDER TO GENERATE THAT KIND OF REVENUE THAT WILL SUPPORT THE OPERATIONS OF IT. 
          UM, AND SO WITH THOSE SPACES, PICKLE, BALL WISE, UH, YOU KNOW, WE WANT, UH, CONCESSIONS AND, AND THAT'S, AND THANK YOU FOR THAT INSIGHT IN REGARDS TO THE VISION FOR FOOD AND BEVERAGE, BECAUSE WE'VE SEEN EVERYTHING FROM, YOU KNOW, FULL BLOWN RESTAURANTS THAT ARE OPEN, YOU KNOW, RESTAURANT TIMES, UH, SPECIFICALLY SO CLOSE AT 11:00 PM AND OPEN UP EARLY IN THE MORNING. 
          UH, AND THAT ARE OPEN TO OUTSIDE GROUPS, UH, ALL THE WAY TO CONCESSIONS, TYPICAL CONCESSION FACILITIES, RIGHT? UH, BUT WE ALSO WANNA INCLUDE, EXCUSE ME, UM, LIKE WE CALL IT CAFE SEATING AREAS, PLACES TO, TO SIT AND SOCIALIZE AND HANG OUT AFTER THE GAME. 
          YOU WANT TO GET A DRINK, YOU WANT TO GET SOME FOOD TO HANG OUT. 
          WE WANT THAT EXPERIENCE OUTSIDE OF THE COURT TO BE ONE THAT PEOPLE WANT TO COME BACK AND THEY WANT TO HANG OUT AND SPEND THEIR TIME IN, UH, TENNIS MORE SPECIFICALLY AND IS JUST THE TWO DIFFERENCES, UH, WITHIN THE INDUSTRY, TENNIS TENDS TO BE, UH, MUCH MORE FOCUSED ON THE SPORT ITSELF. 
          SO NOT THAT PEOPLE WON'T HANG OUT, BUT IT'S NOT A, NOT AS SUCH A PRIMARY FACTOR, UH, WITHIN THE FACILITIES. 
          IT'S MORE OF THE PLAYABILITY OF THE COURTS AND THE ACCESSIBILITY OF THE COURTS. 
          UH, PEOPLE ARE, ARE MUCH MORE, UH, IT'S OBVIOUSLY, UH, THE SPORT IS A LITTLE OLDER AND A LITTLE MORE ESTABLISHED AND, UH, NOT AS, NOT QUITE AS SOCIAL AS A PICKLEBALL, UM, FACILITY. 
          SO, UH, THOSE ARE KIND OF THE TWO DIFFERENCES. 
          BUT THAT, THAT SORT OF LEADS US TO THE QUESTION WHY I WAS TALKING THROUGH, UH, FOOD AND BEVERAGE OPTIONS AND WHAT'S THE GOAL IS BECAUSE WE ABSOLUTELY WOULD WANT SOMETHING THERE, UH, SPECIFICALLY TO GENERATE REVENUE BECAUSE YOU NOW HAVE, ARE INCREASING TRAFFIC TO THIS FACILITY, AND WE WANNA MAKE SURE WE MAXIMIZE THOSE OPPORTUNITIES. 
          BUT TO WHAT EXTENT, UH, AND WHAT'S, WHAT'S YOUR BEST RETURN? UH, YOU KNOW, WE REALLY THINK YOUR VISION IS PERFECT AS FAR AS, YOU KNOW, WHAT'S LAID OUT RIGHT NOW. 
          THERE'S SEEMS TO BE SOME SEATING AREAS, SOME, UH, ALTERNATIVE SPACING, UH, WHERE PEOPLE CAN HANG OUT AND SIT AND THEN WE HAVE A CONCESSIONS OPTION FOR THEM. 
          BUT IT'S NOT OVER. 
          IT'S, IT'S NOT A, A HUGE PIECE WHERE, UH, YOUR OPERATIONS COSTS ARE GONNA GO SKY HIGH BECAUSE YOU'RE OPERATING A FULL BLOWN RESTAURANT POTENTIALLY. 
          SO, UH, I HOPE THAT ANSWERS YOUR QUESTION. 
          THAT WAS A LITTLE LONG-WINDED WAY OF, OF KIND OF GETTING TO IT. 
          I HAVE ONE MORE PART OF THAT WHILE WE'RE ON IT. 
          WHEN YOU TALK ABOUT BEVERAGE OPTIONS, WHAT ARE YOU SPECIFICALLY TALKING ABOUT? WELL, I THINK WHAT YOU'RE PROBABLY GETTING TO IS ALCOHOL, I ASSUME. 
          SURE. 
          UM, IF I'M SAYING THAT CORRECT. 
          SO YEAH, ANY KIND OF, ANY, ANY KIND OF, UH, UH, BEVERAGE THAT PEOPLE ARE GOING TO SIT AROUND AND RELAX. 
          OBVIOUSLY, YOU KNOW, YOU, YOU WANT SOME OF THE MORE, UH, I GUESS SOCIAL, SOCIAL OPPORTUNITIES THERE. 
          NOW WE'VE DONE IT WHERE WE DON'T, WE DON'T SERVE ALCOHOL IN CERTAIN COMMUNITIES AND SOME WE DO, AND IT REALLY JUST DEPENDS ON THE PROJECT AND THOSE KINDS OF PIECES. 
          UM, SO I GUESS I CAN OPEN THAT UP FOR DISCUSSION, BUT I THINK WE TALKED ABOUT THAT, THAT THAT WOULD NOT BE, UH, THAT WOULD NOT BE AN OPTION HERE, BUT LET ME KIND OF THROW THAT OUT TO THE GATE. 
          NO OPTION. 
          THE ATTORNEY'S SAYING NO, THE ATTORNEY SAYS NO, . 
          THERE YOU GO. 
          BECAUSE OF THE CITY PARK. 
          YEAH, BECAUSE IT'S A CITY PARK. 
          KEVIN, WHEN YOU, JUST TO HELP US VISUALIZE WHAT THE CONCESSION STANDS, SORRY IF THAT'S NOT THE RIGHT TERM, COULD LOOK LIKE, ARE YOU ENVISIONING SOMETHING LIKE A STARBUCKS, NOT THAT THEY WOULD ONLY SERVE COFFEE, BUT HOW THEY SERVE SANDWICHES THAT THEY WARM UP AND HAVE LITTLE DESSERTS AND THINGS LIKE THAT? OR ARE YOU THINKING VENDING MACHINES? LIKE WHAT IS YOUR VISION ABOUT WHAT COULD WORK BASED ON WHAT YOU'VE HEARD FROM US? NO ALCOHOL AND NO MAJOR RESTAURANT. 
          SO WHAT MIGHT SATISFY THE USER EXPERIENCE? I, I LIKE THE EXAMPLE YOU THREW OUT THERE IS STARBUCKS. 
          IT'S, UH, IT'S MORE OF A GRAB AND GO. 
          SO QUICK, FAIR, UM, YOU KNOW, WE WANT SOME HEALTHY OPTIONS. 
          WE WANT SOME CONCESSIONS FOOD, UNDERSTANDING THAT THIS WILL PROBABLY DRAW THERE, THERE'S GONNA BE YOUTH PROGRAMMING IN HERE AS WELL. 
          SO, UM, SOME OF THE TYPICAL CONCESSIONS FAIR, BUT UNDERSTANDING THAT PROBABLY, AND AGAIN, WE'RE, WE'RE STILL DOING OUR STUDIES, SO WHAT WE, WHAT WE SEE IS WHAT, WE'LL, WE'LL PROVIDE THAT, BUT AS FAR AS THE AVERAGE AGE, THAT THE PARTICIPANTS WHO ARE GONNA BE ADULTS THAT ARE GONNA BE HANGING OUT AND SPENDING THEIR MONEY, SO, UM, YOU KNOW WHAT THAT LOOKS LIKE, IT'S GONNA BE MAYBE A LITTLE MORE, YOU KNOW, YOU HAVE SOME SANDWICHES AND SOME PRE-MADE SANDWICHES AND, UM, YOU KNOW, NOT LIKE POPCORN OR SOMETHING LIKE THAT, BUT, UH, SOMETHING QUICK, SOMETHING QUICK AND, AND ON THE GO. 
          AND THEN AN AREA FOR PEOPLE TO SIT AND HANG OUT. 
          I THINK THAT'S THE, THE KEY POINT IS THERE'S GONNA BE SPACE THERE FOR PEOPLE TO HANG OUT AND STAY, BUT MORE AND MORE GRAB AND GO FAIR, UH, THAN THAN RESTAURANT. 
          I GUESS ONE MORE 
          [00:40:01]
QUESTION. 
          QUESTION AND I, I, I WANT, THIS IS A COMPARISON OF SPORTS AND IN THINGS LIKE SOCCER AND BASEBALL AND THOSE SPORTS, WE DON'T, AREN'T PROVIDING SOCIAL EXPERIENCES. 
          WE ARE PROVIDING A PLACE TO GO PLAY AND PARENTS USUALLY GO TO A PIZZA PARLOR OR SOMEWHERE AFTERWARDS IF THEY WANT TO HANG OUT. 
          AND, AND I'M NOT SAYING THAT ONE IS NECESSARILY BETTER THAN THE OTHER, BUT YOU DO FIND FOR THIS TO BE OPERATIONALLY SUCCESSFUL, YOU'VE GOT TO PROVIDE A SOCIAL AFTER EXPERIENCE AFTER THE SPORTS HAVE BEEN DONE. 
          IS THAT CORRECT? THAT IS CORRECT. 
          SO WE WANNA CAPTURE, ESPECIALLY GIVEN THE GOAL OF OFFSETTING, UH, THE OPERATIONAL EXPENSES AND BEING PROFITABLE, WE WANT TO CAPTURE REVENUE INSIDE THE WALLS OF THAT FACILITY. 
          OKAY. 
          AND SO YOU TO YOUR POINT GO AHEAD. 
          SORRY. 
          NO, NO, GO AHEAD. 
          GO AHEAD. 
          TO YOUR POINT, WHEN WE TALK ABOUT, UH, SOME OF THOSE LIKE, YOU KNOW, DIAMONDS AND MULTIPURPOSE FIELDS AND PORTS WHERE, YOU KNOW, YOU'RE BRINGING IN LARGE NUMBERS OF USE AND THOSE PIECES, UH, IF THE GOAL WAS, AND IF WE HAD HEARD, HEY, WE WANNA DO, WE WANT ECONOMIC IMPACT, WE WANT TO, YOU KNOW, THIS, THE SOLE GOAL IS FOR EITHER NEW DEVELOPMENT OR TO SUPPORT OUR EXISTING BUSINESSES, THOSE PIECES, THEN, YOU KNOW, WE DON'T NECESSARILY, WE, WE, THERE NEEDS TO BE A LEVEL OF USER EXPERIENCE WHERE PEOPLE WANT TO COME BACK TO THE FACILITY, BUT THE MAIN GOAL IS NOT TO CAPTURE THAT REVENUE INSIDE THAT DIAMOND FACILITY BECAUSE WE DON'T CARE THAT WE WANT THEM TO GO SPEND THE MONEY AT THE PIZZA PLACE. 
          RIGHT. 
          IT IS NOT NECESSARILY THAT IMPORTANT. 
          HOWEVER, THE DIRECT REVENUE WILL NOT COME BACK INTO THE FACILITY. 
          IT'LL COME BACK THROUGH TAXES AND THOSE PIECES. 
          UH, BUT IT WOULDN'T BE, IT WOULDN'T BE CONSIDERED OPERATIONAL REVENUE. 
          AND SO THAT'S, THAT'S MORE THAT ECONOMIC IMPACT VISION. 
          WHAT I'M HEARING HERE IS THAT WE WANT TO MAKE SURE THAT WE'RE CAPTURING THE REVENUE TO OFFSET THOSE OPERATIONAL EXPENSES AND THAT BEING THE CASE ALONG WITH USER EXPERIENCE, YES, WE WOULD WANT SOME KIND OF FOOD AND BEVERAGE OPTION. 
          UM, GIVEN THAT THAT'S, THAT'S A HUGE REVENUE GENERATOR, PROBABLY THE LEADING REVENUE STREAM, UM, THAT WE SEE WITHIN OUR VENUES. 
          SO JUST TO RECAP, YOU'RE SAYING THE PLACES WHERE YOU DON'T HAVE ONSITE, UM, THE CITIES WHERE YOU DON'T HAVE LIKE AN ONSITE PRESENCE OF CONCESSIONS AND FOOD IS BECAUSE THEIR GOAL IS TO DRIVE, PUSH THE PEOPLE TO GO INTO THE CITY AND INTO THE COMMUNITY TO EAT AT THOSE LOCAL RESTAURANTS FOR THAT TYPE OF DEVELOPMENT. 
          BUT SINCE WE'RE TRYING TO HAVE THIS FACILITY, UM, MORE PAY FOR ITSELF THAN KEEPING PEOPLE THERE WITH SOME, I'LL CALL IT LIGHT CONCESSIONS OR WHATEVER, IS IS THE GOAL TO, TO CAPTURE THE REVENUE WITHIN THE, THE WALLS OF THIS FACILITY? THAT'S RIGHT. 
          AND ALSO I WANNA ADD ON, UM, NOT TO GET TOO LOST IN THE WEEDS, BUT IT'S ALSO A USER EXPERIENCE PIECE TOO, RIGHT? SO IF YOU WANT SOMETHING ACCESSIBLE THAT PEOPLE WANT TO COME BACK TO THAT VENUE, EVEN THE VENUES THAT WE HAVE THAT ARE MOST ECONOMIC IMPACT FOCUSED, WE STILL OFFER SOME KIND OF FOOD AND BEVERAGE. 
          IT JUST MAY NOT BE, UM, YOU KNOW, WE DON'T, WE WANNA BE CAREFUL NOT TO COMPETE WITH THE PRIVATE SECTOR. 
          AND I THINK, UM, YOU KNOW, WITH THE PICKLEBALL SIDE BEING MUCH MORE SOCIAL AND YOU SAID THE TENNIS, UM, IS VERY DIFFERENT. 
          THEY DON'T ALWAYS STAY AND HANG OUT AND SO FORTH. 
          I THINK, UM, ONE THING THAT IT MIGHT BE THE HOUR OF THE DAY THAT THE TENNIS PEOPLE MIGHT STAY, 'CAUSE I COULD, I ENVISION, YOU KNOW, SOME DURING THE DAY, YOU KNOW, SOME OF THE WOMEN'S TENNIS LEAGUES, THEY MAY STAY AND HANG OUT. 
          AND WHEN YOU'VE GOT THESE AFTERSCHOOL KIDS COMING, BECAUSE OF WHERE IT IS, IT'S NOT LIKE IT, IT'S AS EASY FOR A, A PARENT TO DROP THE KID FOR THE HALF HOUR OR ONE HOUR LESSON LEAVE AND COME BACK. 
          THEY MAY ACTUALLY STAY ON SITE, UM, YOU KNOW, WHILE THEY WAIT FOR THAT, THAT LESSON. 
          'CAUSE IT'S NOT LIKE WE'RE RIGHT NEXT DOOR TO THE GROCERY STORE OR WHATEVER THAT THEY CAN RUN, GO DO THEIR SHOPPING WHILE THE KID IS IN A LESSON. 
          THAT'S RIGHT. 
          YEP. 
          I, I THINK THE OTHER THING, UM, THERE WILL BE SOME YOUTH, WE KNOW THAT, BUT AS I SEE IT TOO, AND YOU TALK ABOUT PICKLEBALL AND TENNIS MOST OF THE DAY ARE THOSE PEOPLE, IT'S NOT LIKE A WHOLE TEAM OF BASEBALL PLAYERS GOING TO A PIZZA PLACE. 
          IT'S LIKE FOUR PEOPLE PLAYING PICKLEBALL MAYBE WANNA SIT DOWN. 
          I LOOK AT IT MORE LIKE, UM, MY EXPERIENCE AFTER WE PLAY GOLF, AFTER WE PLAY GOLF, WE WANT TO GO SIT DOWN, HAVE A, AT THE COUNTRY CLUB. 
          YEAH. 
          YEAH. 
          I SEE THIS AS A COUNTRY CLUB EXPERIENCE TOO. 
          OH, YOU KNOW WHAT, THEY DO THAT AT PUBLIC COURSES TOO. 
          I'M SORRY. 
          YEAH. 
          HAR HILLS DOES THAT TOO. 
          YOU JUST WANNA HAVE A COKE AND JUST A SNACK WITH SOMEBODY. 
          WELL, IT'S KIND OF A STAGING AREA. 
          YEAH. 
          UH, BEFORE, UH, AND THEN AFTER, UM, LET PEOPLE BE READY TO, TO GET ON THE COURT, UM, 
          [00:45:01]
IF, UM, YOU KNOW, THEY HAVE A, UH, A TIME, BUT THEN AFTER, UH, THEY KIND OF WIND DOWN JUST A LITTLE BIT, GATHER THEIR THINGS AND, UM, YEAH. 
          YEAH. 
          IT'S NOT LIKE A BIG HANGOUT PLACE. 
          IT'S, IT'S KIND OF MORE STAGING, IF YOU WILL. 
          YEAH. 
          I THINK THE, THE MAIN VIEW OF THIS IS TO MAKE SURE THAT IT'S SERVING THE, THE USERS THAT ARE COMING IN. 
          SO WHAT'S ATTRACTING PEOPLE ARE THE, THE TENNIS AND PICKLEBALL COURTS TO UTILIZE THOSE? UM, I DON'T THINK THAT WE'RE, YOU KNOW, I GUESS TO TO SUMMARIZE IT, WE'RE NOT TRYING TO EXTRACT THE GENERAL PUBLIC TO COME AND SAY LIKE, LET'S GO HAVE DINNER AT, UH, 10 PICKLEBALL FACILITY. 
          RIGHT. 
          BECAUSE THEY HAVE A GREAT RESTAURANT. 
          LIKE WE'RE TRYING TO, AND, AND I CAN SEE, I CAN SEE WITH THE YOUTH IMPLEMENT THE USERS, I'M SORRY, I, I APOLOGIZE, I INTERRUPTED. 
          UM, I CAN SEE THAT WITH YOUTH BEING THERE IN THE EVENINGS, THAT THEIR PARENTS WOULD APPRECIATE IF THERE WAS A PLACE THEY COULD GET A HEAVY SNACK OR EVEN SMALL MEAL, UM, AS THEY WERE DROPPED OFF TO GO FROM APPOINTMENT TO APPOINTMENT. 
          SO IF THAT WAS A, YOU KNOW, HEAVY SANDWICH, LIKE A STARBUCKS SANDWICH OR SOMETHING LIKE THAT IS WHAT I'M THINKING THAT A, THAT A YOUNG PERSON COULD PICK UP WHILE THEY WERE THERE. 
          THEIR PARENTS WOULD SAY, HERE'S, HERE'S MONEY, GRAB DINNER WHILE YOU'RE IN THERE, BRING IT. 
          AND THEN THAT WAY I DON'T, YOU KNOW, THAT KIND OF THING. 
          I CAN SEE WHERE THAT WOULD BE A BIG SOURCE OF REVENUE FOR THE GRAB AND GO FOR THEM TO TAKE IT WITH THEM AS THEY LEAVE AND EAT IN THEIR CAR ON THE WAY HOME OR, YEAH, ABSOLUTELY. 
          OR WHEN THEY DROP OFF AFTER SCHOOL AND THEY'RE HUNGRY. 
          RIGHT. 
          OR THEY EAT THEIR SECOND LUNCH. 
          KEVIN, QUICK QUESTION FOR YOU ABOUT THAT. 
          WOULD, DO YOU ENVISION ONSITE COLD PREP OR SOMETHING THAT'S PREPARED ELSEWHERE AND BROUGHT ON SITE? RIGHT. 
          UM, I, I KNOW, WELL, I MEAN, WITHOUT GETTING THROUGH LOST IN THE WEEDS AGAIN. 
          UM, BUT I KNOW THERE'S ALSO, UM, YOU KNOW, PERMIT DISCUSSIONS ON BRINGING FOOD ON OFFSITE AND ON SITE AND, UM, SOME, THE BAD SIDE, I DON'T, OUR ASSUMPTIONS WITHIN THE PROMA ARE REVENUE BASED. 
          SO, WE'LL, WE'LL ASSUME THAT, YOU KNOW, WE'RE SELLING A LEVEL OF, OF PRODUCT WITHIN THE CONCESSION THAT'S GONNA GENERATE THIS MUCH REVENUE PER, PER CAPITA, SO PER PER CASH SPENDING. 
          UM, BUT WE WOULDN'T ASSUME THAT WE'RE GONNA, YOU KNOW, PREP AND GROUPS THERE ARE FROM TIME TO TIME AND THE CONCESSIONS OR FOOD AND BEVERAGE AREA CAN SUPPORT WHAT THE AMOUNT OF PEOPLE THAT ARE COMING IN. 
          THAT'S WHERE WE START GOING IN, GOING OUT INTO THE COMMUNITY AND LOOKING AT THIRD PARTY GROUPS COMING IN, RIGHT. 
          OUTSIDE VENDORS, FOOD TRUCKS, THOSE KINDS OF THINGS. 
          UM, BUT THAT, THAT'S, I, I DON'T, THAT, I DON'T SEE THAT AS A CONSISTENT WAY TO SERVE. 
          UH, OR, OR DO I THINK IT WOULD BE, UM, I THINK LEANING ON THAT IN THE ABSENCE OF A FOOD AND BEVERAGE AREA, WOULD, WOULD BE, WOULD BE THE SMART MOVE. 
          OKAY. 
          AND WE DO THAT FOR SPECIAL EVENTS, EVEN AT THAT PARK ALREADY AS FOOD TRUCKS WILL COME IN WHEN THERE'S SOMETHING SPECIAL AND LARGER GOING ON. 
          YEP. 
          OKAY. 
          KEVIN, WHAT MORE DO YOU NEED? UM, FROM MY END, THIS HAS BEEN AWESOME. 
          THANK YOU GUYS SO MUCH. 
          UM, REALLY, UH, THIS ALLOWS US TO MOVE FORWARD WITH, YOU KNOW, YOUR VISION. 
          AND OBVIOUSLY THIS IS, UM, ITERATIVE. 
          SO AS WE, AS WE WALK THROUGH THIS PROCESS, YOU KNOW, WE CONTINUE TO COMMUNICATE AND THINK WE PROVIDED THIS EARLIER, EVERYTHING WE PROVIDED IN DRAFTS. 
          SO WE WANNA MAKE SURE THAT IT'S, UM, YOU KNOW, THERE'S A LOT OF COMMUNICATION BACK AND FORTH, BUT, UM, NOTHING ON MY END. 
          ANY QUESTIONS THAT YOU GUYS HAVE FOR ME? ANYTHING THAT WE DIDN'T DISCUSS THAT YOU WERE HOPING WE DISCUSSED? UM, I SEE AT THE BOTTOM YOU HAVE WHAT ARE THE MAIN PARTNERS WHO CAN CONTRIBUTE TO SUCCESS? AND THAT JUST MADE ME THINK ABOUT SPONSORSHIPS. 
          AND SO WE HAVE A POLICY IN OUR CITY THAT ALLOWS FOR SPONSORSHIPS. 
          SO IN THE PRO FORMA, COULD YOU PLACE AN OPTION FOR WHAT SPONSORSHIP COULD, WHAT IT COULD GENERATE IN TERMS OF REVENUE? YEAH. 
          YEAH. 
          SO WE DO THAT, WE MAKE THAT ASSUMPTION, UM, BASED ON, ON A LOT OF MARKET FACTORS AND THE FACILITY ITSELF AND THE GOLD. 
          UH, ONE QUESTION I GUESS I HAVE IS, ARE THERE ANY LIMITATIONS WITHIN THE CITY THAT WE NEED TO BE AWARE OF WHEN WE MAKE THAT ASSUMPTION WITHIN THE PROFORMA? AS FAR AS SPONSORSHIPS? LIKE ARE THERE CERTAIN LEVELS OR, OR FINANCIAL, UM, CAPS THAT YOU GUYS JUST DON'T WHAT ANY KIND OF LIMITATION WITHIN THE SPONSORSHIPS? UH, WITHIN THE CITY Y YES. 
          WELL, KEVIN, YOU AND I CAN DIALOGUE, UH, OFFLINE ABOUT THAT. 
          OKAY. 
          WE DO HAVE A, A, UH, NAMING POLICY AND, AND WE'LL TALK ABOUT WHAT CITY COMMISSION APPROVAL WOULD BE NEEDED, WHAT AT WHAT LEVELS, UH, AND PROBABLY HAVE TO FILL IN THE DETAILS ON EXACTLY WHAT THAT WOULD IN ENTAIL SO WE CAN TALK OFFLINE. 
          OKAY. 
          ALL 
          [00:50:01]
RIGHT, KEVIN, IF THAT'S ALL YOU NEED. 
          THANK YOU, KEVIN. 
          THANK YOU. 
          YEAH, THANK YOU GUYS. 
          ALL RIGHT, COMMISSIONERS. 
          THANK YOU VERY MUCH FOR KNOCKING THOSE TWO THINGS OUT EARLY. 
          YEAH, THANKS. 
          AND, UH, WE HAVE MORE TO TALK ABOUT. 
          WE'LL GO AHEAD AND GET TO OUR AGENDA FOR THE MEETING. 
          NO SWEARING INS. 
          NO SWEARING INS. 
          YEAH. 
          FIRE POLICE HAVE, UH, KNOCKED ON. 
          I CAN HEAR THAT TELEPHONE BETTER THAN I COULD HEAR ANY OF Y'ALL. 
          . 
          . 
          I'M NOT KIDDING. 
          YOU WAS SO CLEAR. 
          . 
          UH, OKAY, SO WE ARE GONNA START OFF, UH, AS YOU CAN SEE, WE HAVE EVERYTHING ON CONSENT AGENDA. 
          UH, HOLLY AND I LOOKED AND SAID THERE'S REALLY NOTHING HERE. 
          I THINK THAT WARRANTS US PULLING IT OFF AND PUTTING ON A REGULAR AGENDA. 
          IT'S PRETTY RUN OF THE MILL STUFF. 
          FIRST ITEM IS, UM, AUTHORIZING ADDENDUM TO THE RJ YOUNG COPIER AND SOFTWARE AGREEMENTS. 
          UH, IN A NUTSHELL, WE HAVE ONE COPIER WE NEED TO ADD WITH THE COMPLETION OF THE PHASE ONE IMPROVEMENTS IN THIS BUILDING PLANNING AND CODES WOULD BE PRETTY FAR AWAY FROM THE COPIER. 
          WE DON'T WANT THEM TO WALK LITERALLY HAPPILY ACROSS THE BUILDING EVERY TIME THEY MAKE A COPY. 
          AND IF THEY HAD MY LUCK, THEY WOULD RUN THE, THE PRINT JOB, GET OVER THERE AND REALIZE IT DIDN'T PRINT RIGHT. 
          , SO YOU GOTTA GO BACK. 
          UH, AND SO THEY WOULD APPRECIATE YOUR CONSIDERATION OF ADDING A NEW COPIER, INCREASING OUR CONTRACT, UH, $2,796. 
          THESE ARE MORE BIZ HUB, UM, INSTEAD OF COPIER. 
          RIGHT. 
          SO PEOPLE ARE PRINTING, UH, ON THEM MORE SO THAN JUST DOING COPIES. 
          I MEAN, WE'VE KIND OF GONE AWAY FROM THE LASER PRINTERS AND DESKS AND STUFF, RIGHT? CORRECT. 
          WE'VE TRIED TO CONSOLIDATE THAT SO THAT WE DON'T HAVE THE INK CARTRIDGES IN THAT EXPENSE. 
          SO IT'S A CENTRALIZED COPYING AND SCANNING IS A LOT OF WHAT WE DO NOW AS WELL. 
          GOOD. 
          ITEM NUMBER TWO IS ADOPTING A REVISION TO OUR PERSONNEL RULES AND REGULATIONS. 
          AND COMMISSIONER SIMPLY THIS IS, UH, OUR RECOGNITION THAT WE NOW HAVE THE ABILITY TO IMPLEMENT OUR RAISES. 
          THESE ARE OUR MARKET OF MERIT RAISES THAT TYPICALLY COME IN JULY ON JULY ONE, AND IT CAN BE REFLECTED, UH, IN THE FIRST PAYCHECK, WHETHER OR NOT THAT'S A FIR THE FIRST FULL PAYCHECK. 
          SO PREVIOUSLY BECAUSE OF SOFTWARE LIMITATIONS, WE HAD SAID IT'D BE THE FIRST FULL PAY PERIOD IN JULY, AND THIS TIME AROUND I THINK ACTUALLY WOULD PUSH IT KIND OF TOWARD THE END, THE WAY THE CALENDAR FALLS. 
          UM, SO OUR REQUEST, UH, FOR USED TO MAKE THIS SMALL CHANGE TO OUR PERSONNEL RULES REGULATIONS TO SAY THAT JULY ONE DAY WOULD BE EFFECTIVE. 
          ITEM NUMBER THREE IS A CHANGE ORDER WITH ESP ASSOCIATES. 
          AND, UH, DAN IS HERE TO ANSWER ANY QUESTIONS YOU MAY HAVE ABOUT IT, BUT WE HAVE ADDITIONAL SERVICES THAT THEY'VE HAD TO PROVIDE AS A RESULT OF THE SOILS ISSUES THAT WE'VE HAD OUT THERE THAT HAS TAKEN AN AWFUL LOT OF WORK, UH, FROM STAFF, FROM OUR CONTRACTOR AND FROM ESP AND, UH, BOTH FROM AN ENVIRONMENTAL PERMITTING POINT OF VIEW AND SIMPLY MANAGING ON THE ENGINEERING AND AND DESIGN SIDE, UM, HOW BEST TO ACCOMPLISH THAT, UH, DEALING WITH THE POOR SOIL. 
          SO, UH, THE CONTRACT ADDENDUM WOULD BE $32,000. 
          FROM A BUDGET AUTHORIZATION POINT OF VIEW, IT'D BE $22,000 BECAUSE THERE'S A $10,000 CONTINGENCY THAT WE'LL MAKE FULL UTILIZATION OF. 
          AND, UH, DAVE CAN ANSWER ANY QUESTIONS ABOUT THE DETAILS IF YOU LIKE. 
          HOW, HOW ARE WE DOING WITH IT OUT THERE? UH, THEY'RE POURING CONCRETE NOW. 
          THEY'RE POURED, UM, A LITTLE OVER 300 FOOT OF CONCRETE. 
          UM, THEY'VE GOT ANOTHER 150, UH, READY TO GO. 
          SO IT, IT IS GOING WHETHER PERMITTED SINCE I, I FEEL LIKE THERE'S, THERE'S THINGS THAT KEEP COMING UP WITH THIS PROJECT. 
          UM, SINCE THIS TAKES OUT THE CONTINGENCY, DO WE NEED TO PUT BACK IN? NOT FROM, NOT FROM THE ENGINEERING STANDPOINT. 
          OKAY. 
          I THINK FROM THEM , NO, I THINK WE, WE SHOULD BE OKAY BECAUSE YEAH. 
          'CAUSE I'M, I'M A LITTLE CONFUSED 'CAUSE I THOUGHT WHEN THEY CAME IN HERE AND WE HAD A BIG DISCUSSION ABOUT WHAT TYPE OF CONCRETE OR DO WE DO, YOU KNOW, DIFFERENT ALL THE THINGS FOR THE PATHS. 
          I THOUGHT WE WERE, THAT WAS A CHANGE ORDER WITH ORION. 
          OH, THIS IS WITH OUR ENGINEER. 
          OKAY. 
          OKAY. 
          THANK YOU FOR THAT CLARIFICATION. 
          I WAS GETTING A LITTLE CONFUSED ON THAT. 
          ORION'S HAD TO DEAL WITH HOW DO I BUILD IT AND, AND THEY HELP DECIDE HOW SHOULD IT BE BUILT. 
          OKAY. 
          TO WHAT SPEC. 
          OKAY. 
          SO THAT SIDE YEAH. 
          IS GONNA STAY. 
          YEAH. 
          OKAY. 
          HOPEFULLY. 
          YES MA'AM. 
          OKAY. 
          OKAY. 
          ITEM NUMBER FOUR IS AN AMENDMENT TO OUR EXISTING AGREEMENT WITH TDOT, UH, TO LOCALLY MANAGE THE SIGNAL SYSTEM. 
          THIS IS OUR, THIS IS OUR, UH, CMAC PROJECT. 
          IT'S BEEN AROUND FOR QUITE A WHILE AND, UH, IT'S GONNA BE AROUND FOR A WHILE YET LONGER, BUT THERE IS ONE CHANGE THAT STAFF, UH, NEEDS TO MAKE, UH, AND TDOT HAS AGREED TO, WHICH IS CHANGING THE NOTICE TO PROCEED DATE THAT'S INCLUDED THEREIN. 
          THAT'S THE ONLY CHANGE IN WAS ACTUALLY NOT THE ONLY CHANGE BECAUSE THE COST OF THE CONTRACT HAS GONE UP. 
          BUT THOSE COSTS ARE BEING BORNE BY, UH, TDOT AND NOT BY THE CITY. 
          SO OUR COSTS 
          [00:55:01]
FOR THIS REMAIN AT 113,655, THANKFULLY. 
          UM, SO IF THERE'S ANY QUESTIONS THAT YOU HAVE, UH, DEREK AND SARAH CATHERINE ARE HERE. 
          THE ONLY THING I HAVE IS ON THIS, UM, MAP FOR THE LEG, THE LEGEND. 
          DOES IT TELL WHAT COLOR IS WHAT ON MY, IT DIDN'T PRINT OFF THE COLOR, SO I CAN'T TELL. 
          SO, UM, IS IT ONLINE ACCURATE? YEAH. 
          OKAY, GREAT. 
          GREAT. 
          THANK YOU. 
          AND COMING TO YOU, OR, ANYWAY, Y'ALL PASS THAT DOWN PLEASE. 
          THANK YOU. 
          COMMISSIONER PEARSON. 
          JAY, I HAVE THAT ELSEWHERE. 
          THIS, THIS, WHEN YOU'RE READING THIS FROM THE CONSENT AGENDA, THE ONLY THING I WOULD SAY IF YOU CAN INCLUDE THAT THIS STARTED IN 2020 AND JUST LET THE PUBLIC KNOW HOW THIS IS PROGRESSING. 
          BUT WE, AND WE STILL ARE STILL LOOKING NOW AT 2026. 
          RIGHT? SO YES SIR. 
          I'M NOT SAYING TO MAKE A BIG DEAL OUT OF IT, BUT I THINK IT OUGHT TO BE NOTED. 
          YES, SIR. 
          IF YOU WANTED THE DETAILS ON THE ORIGIN, MIKE HARRIS WOULD'VE TO COME BACK AND TELL YOU  I'VE BEEN AROUND THAT LONG. 
          SO I HAVE A QUESTION CONSIDERING ALL THESE BUDGET CUTS AND WE ARE DEPENDING ON ADDITIONAL FEDERAL FUNDING. 
          THANK YOU SO MUCH. 
          HOW SECURE IS THIS PROJECT? I MEAN, I THINK THAT'S A VERY REALISTIC QUESTION RIGHT NOW. 
          WELL, THERE, THERE ARE FEDERAL DOLLARS ASSOCIATED WITH THIS AS WELL. 
          SO WE DON'T TODAY. 
          YES MA'AM. 
          TODAY. 
          YEAH. 
          UH, WE HAVEN'T HEARD, BUT HAVE Y'ALL HEARD, WE'RE GOING THROUGH A TIP AMENDMENT RIGHT NOW WITH THE G-N-R-C-A TIP AMENDMENT. 
          UM, SO THEY'RE ADDING FEDERAL FUNDING RIGHT NOW AND THAT WILL BE APPROVED IN MAY AT THE GNRC. 
          BUT TDOT HAS ALLOCATED THESE FUNDS AND THEY'VE APPROVED THAT. 
          SO YES, THE FUNDING IS STABLE. 
          WE'RE GONNA GO TO CONSTRUCTION HOPEFULLY JUNE. 
          SO WE'RE LOOKING AT STARTING THIS PROJECT PRETTY QUICKLY SO WE'RE NOT STARTING SOMETHING THAT WE MIGHT NOT BE ABLE TO FINISH. 
          IT IS OVERALL, YES. 
          OKAY. 
          AND THAT'LL BE CONFIRMED WITH THE GRC WITH THE AMENDMENT? YES. 
          THANK YOU. 
          AND THANKFULLY TRANSPORTATION PROJECTS TEND TO KEEP THEIR MONEY AND, UH, OTHER THINGS ARE GETTING CUT IN WASH NOW. 
          OKAY. 
          NEXT ITEM FIVE IS, UM, AN AMENDMENTS TO OUR SCHEDULE OF PRESCRIPTION DRUGS REVISING, UH, HIV PREP. 
          UH, AND ESSENTIALLY THERE ARE CHANGES AT THE FEDERAL LEVEL THAT REQUIRE US TO, UH, NOT SPECIFY WHICH HIV MEDICATIONS ARE AVAILABLE ON OUR FORMULARY. 
          IT'S A CATEGORY OR A CLASS OF HIV MEDICINES. 
          AND SO THIS WOULD MAKE THAT CHANGE FOR US. 
          UM, UH, I DON'T THINK APRIL IS, IS HERE. 
          NO, SHE'S NOT. 
          SO, UM, DO YOU HAVE ANY QUESTIONS ON THAT? MM-HMM. 
          OKAY. 
          ALRIGHT. 
          NEXT ITEM FOR DISCUSSION IS THE HAZARDOUS DUTY BENEFIT. 
          I'M GONNA PASS OUT. 
          YEAH. 
          THIS MAY HELP YOUR EYES A LITTLE BIT. 
          OH, THANK YOU. 
          I LOVE THE BIG FRIENDS. 
          FINALLY, WE COULD SEE SOME , WHICH I DO A LOT. 
          YES, THANK YOU. 
          OKAY, THANK YOU. 
          TRIED MY BEST TO CAPTURE, UM, THE BACKGROUND ON THIS AND, AND OUR, OUR PUBLIC SAFETY RETIREMENT BENEFITS THROUGH TCRS IN THE EMAIL THAT I SENT YOU. 
          UM, BUT WE'LL KIND OF WALK THROUGH THAT. 
          'CAUSE I DO THINK IT'S IMPORTANT CONTEXT TO HAVE AS WE TALK ABOUT WHETHER OR NOT THIS IS SOMETHING WE THINK THE CITY SHOULD PURSUE OUR CURRENT, UH, PENSION BENEFIT. 
          IT, IT HAS ITS ORIGIN IN, UH, YOU KNOW, THE LEGACY PLAN AND PRIOR TO THE BRIDGE BENEFIT, AND WE'VE BEEN IN TCRS SINCE 1974, INVESTING IN OUR PLAN FROM THE VERY BEGINNING WAS FIVE YEARS. 
          I'M SORRY, ACTUALLY IT WAS FOUR YEARS IN THE VERY BEGINNING. 
          AND THEN VERY SOON THEREAFTER, WE, WE MOVED IT TO FIVE YEARS. 
          AND IT WAS NON-CONTRIBUTORY, MEANING THE EMPLOYEES DIDN'T HAVE TO PUT ANY OF THEIR OWN MONEY INTO IT, UH, UNTIL JANUARY 1ST, 2010. 
          AND THEN ALL THOSE HIRED AFTER THAT DATE HAVE A 5% MANDATORY CONTRIBUTION THAT, UH, THEY PUT IN ON, ON THEIR BEHALF TO THE PLAN. 
          FULL RETIREMENT, MEANING UNREDUCED, NO PENALTY AT AGE 60 WITH FIVE YEARS OR AT ANY AGE WITH 30 YEARS, WHAT IS KNOWN AS THE 30 AND OUT EARLY RETIREMENT WAS AVAILABLE WITH A PENALTY OF 0.4% PER MONTH AT AGE 55. 
          WITH 25 YEARS YOU COULD RETIRE EARLY. 
          AND I, YOU CAN SEE ON, UM, ONE COUPLE OF MINOR CHANGES I MADE TO, THIS IS AT THE TOP, AND I THINK I'D HAVE TO FAST FORWARD HERE AT 
          [01:00:01]
THE TOP OF THIS. 
          I HAD NOT FILLED THIS IN HERE. 
          UM, I HAD KIND OF LEFT IT TO, TO YOU GUYS TO DO THE MATH. 
          AND I THINK IT HELPS TO SEE THE REDUCTION AS IT HAPPENS. 
          UM, YOU KNOW, PRIOR TO AGE 60, THAT'S KIND OF, UH, IN 12 MONTH INCREMENTS, HOW PEOPLE'S EARLY RETIREMENT, HOW THEIR BENEFIT GETS REDUCED WITH 25 YEARS OF SERVICE IF THEY WERE RETIRED AT AGE 55 UNDER THE PRE BRIDGE LEGACY PLAN. 
          OKAY, NOW, HOW MANY EMPLOYEES DO WE HAVE THAT ARE UNDER THE PRE 2009 THAT ARE STILL WITH THE CITY? DO WE KNOW? CAN YOU, DO YOU KNOW THAT OFF THE TOP OF YOUR HEAD? PRE 2009? I MEAN, WITH THE PUBLIC, YOU KNOW, THE LEG PUBLIC SAFETY DEPARTMENT. 
          SO WE'VE GOT 59% OF OUR SWORN PUBLIC SAFETY IN THE LEGACY PLAN AND 41% IN THE HIGHWAY. 
          THAT'S LOT. 
          YEAH. 
          OKAY. 
          BACK AND BACK UP HERE. 
          AND SO THE MULTIPLIER IS 1.5%. 
          SO THAT MEANS YOUR BENEFIT IS 1.5% OF YOUR AVERAGE FINAL COMPENSATION TIMES THE NUMBER OF YEARS OF SERVICE. 
          AND IT IS A, A MODEST PENSION BENEFIT COMPARATIVELY TO OTHER, MAYBE OTHER STATES AND, AND OTHER LOCALES. 
          BUT I DO THINK THAT THAT'S A LARGE PART OF WHAT MAKES IT SUSTAINABLE. 
          SO THE PUBLIC SAFETY BRIDGE BENEFIT WAS ADOPTED IN 2009, DESIGNED TO HELP OUR EMPLOYEES WHO RETIRE BEFORE AGE 62 TO MAKE IT TO SOCIAL SECURITY EARLY RETIREMENT AGE, WHICH IS 62. 
          THERE ARE ONLY 22 CITIES IN TENNESSEE THAT DO THIS. 
          AND THERE ARE ACTUALLY 600 PLANS IN TENNESSEE BECAUSE ONE CITY OR COUNTY CAN HAVE MULTIPLE PLANS, HAVE A HYBRID PLAN, LEGACY PLAN, JUST LIKE WE DO. 
          UM, OF THE TOTAL NUMBER OF PLANS, CITY AND COUNTY 42 ARE, UM, INCLUDE A BRIDGE BENEFIT AND THE REST OF THEM OUTTA THE 600 DO NOT. 
          SO WE ARE IN THE MINORITY OF COMMUNITIES THAT PROVIDE THIS BENEFIT TO OUR EMPLOYEES EASE. 
          WE ESTABLISHED A MANDATORY RETIREMENT AGE CONCURRENT WITH THAT CHANGE OF 60 YEARS OLD, FULL RETIREMENT UNREDUCED ELIGIBILITY WAS REDUCED TO 55 WITH FIVE YEARS OR ANY AGE WITH 25 YEARS. 
          OBJECT. 
          YES SIR. 
          WITH, WITH THOSE LAST TWO, THE MANDATORY RETIREMENT AGE OF 60 AND FULL RETIREMENT REDUCED TO 55, IS THAT OUR POLICY OR STATE POLICY? THAT'S THE BRIDGE BENEFIT. 
          OKAY. 
          IT'S, IT'S THE BRIDGE BENEFIT. 
          SO THAT'S, IF YOU ADOPTED THE BRIDGE BENEFIT, THAT'S WHAT THAT IS. 
          UH, THE ADD-ON TO THE 1.5% MULTIPLIER WAS 0.75% FROM AGES 55 TO 62. 
          AGAIN, GIVING THEM A BUMP UP TO TRY AND GET THEM TO AGE 62 WHEN THEY CAN GET EARLY SOCIAL SECURITY. 
          AND IT WAS PAID FOR BY THE EMPLOYEES WHO VOTED 90%, UH, TO FOREGO 3.5% OF THEIR 2009 MARKET AND MERIT RAISES EVENTUALLY OVER TIME THAT GOT ABSORBED. 
          AND THAT IN MORE RECENT TIMES, BECAUSE WE HAD SOME FAIRLY AGGRESSIVE PAY INCREASES, WE HAD TO, TO REMAIN COMPETITIVE WITH OUR PEERS BECAUSE IF WE'RE SHOWING A STARTING SALARY LOWER FOR A GOOD REASON, WE HAVE BETTER BENEFITS. 
          BUT THAT DOESN'T SELL WELL TO THE FOLKS WHO ARE COMING IN THE DOOR AND WE'RE TRYING TO RECRUIT THEM. 
          IT'S NOT A RECRUITING TOOL. 
          'CAUSE THEY DON'T LOOK AT THE LONG GAME. 
          THE YOUNG OFFICERS DON'T. 
          THEY'RE LOOKING AT WHAT'S MY PAYCHECK GONNA BE TODAY? AND SO IT WOUND UP BEING EVENTUALLY ABSORBED IN THE 2004 PAY PLAN, THE PS SCHEDULE WENT AWAY, BUT IT HAD EFFECTIVELY ALREADY REALLY GONE AWAY BECAUSE OF THE AGGRESSIVE RAISES WE HAD TO DO. 
          AND THEN YOU CAN SEE, I'M GONNA SKIP FORWARD AGAIN TO THE IMPACT THAT THE BRIDGE BRIDGE BENEFIT HAD. 
          UM, LET'S GO HERE. 
          REGULAR UNREDUCED, UH, 60 YEARS, AGAIN, FIVE YEARS MINIMUM, BUT IT ONLY REALLY MAKES SENSE TO TALK ABOUT THE 25 YEAR AND 30 YEAR EMPLOYEES FOR SAKE OF COMPARISON. 
          THAT'S WHERE THE NUMBERS BECOME SUBSTANTIVE. 
          AND SO A 40% BENEFIT, YOU KNOW, BECAME A 59% BENEFIT ALL THE WAY TO AGE 62 WHEN IT REDUCES DOWN BECAUSE THEY CAN GET THE SOCIAL SECURITY EARLY. 
          AND THEN OF COURSE, FOR 30 YEARS, 48% CAME UP TO 70% AND THEN IT DROPS BACK DOWN. 
          SO THAT GETS US TO TODAY, UH, WELL I GUESS IT'S WORTH TALKING ABOUT THE HYBRID PLAN WITH COST CONTROLS. 
          WE DID MAKE THIS CHANGE IN 2018 IN AN ATTEMPT TO REDUCE OUR PENSION LIABILITIES. 
          AND VESTING IS STILL FIVE YEARS. 
          BUT OF COURSE THE HYBRID PLAN IS A BOTH A DEFINED BENEFIT AND A DEFINED CONTRIBUTION. 
          SO THERE'S A 401K COMPONENT TO IT, AND YOUR VESTING IS IMMEDIATE FOR THE 401K. 
          OF COURSE, FULL RETIREMENT AGE WENT TO 65, OR THE RULE OF 90 BEING YOUR SERVICE YEARS PLUS YOUR AGE. 
          IF THEY ADD UP TO 90, THEN YOU CAN 
          [01:05:01]
RETIRE EARLY RETIREMENT AGE OF 60 WITH A 0.613% PER MONTH. 
          EARLY RETIREMENT REDUCTION, THE EMPLOYEE CONTRIBUTES 5%. 
          IT'S MANDATORY. 
          THE CITY CONTRIBUTES 9% AND THAT 9% IS SPLIT INTO THE PART THAT GOES TO THE 4 0 1 AND THE PART THAT GOES TO THE PENSION. 
          BUT THE COST CONTROLS COMPONENT OF THIS LIMITS OUR OBLIGATION TO 9% BECAUSE IF YOU HAVE EITHER ACTUARIAL ASSUMPTIONS THAT GET CHANGED OR INVESTMENT PERFORMANCE IS POOR, THEN THERE'S ACTUALLY ON THE BENEFIT SIDE, THERE ARE REDUCTIONS THAT CAN KICK IN. 
          SO THE CITY DOESN'T HAVE THIS POTENTIALLY UNLIMITED OBLIGATION THAT IT HAS TO MAKE BECAUSE THE STOCK MARKET'S DONE POOR OR PEOPLE ARE LIVING LONGER. 
          9% PERCENT THAT WE CONTRIBUTE. 
          IS THAT KIND OF THE GOING RATE? IS THAT WHAT MOST WELL IT'S, IT'S EVERYBODY WHO'S IN THE, IN THE HYBRID PLAN. 
          THAT'S A STATE REQUIREMENT. 
          OKAY. 
          SO EVERY STATE, EVERY CITY IS DOING THAT IN, IN TENNESSEE? YES. 
          OKAY. 
          EVERYBODY WITH A HYBRID PLAN. 
          YEAH. 
          SOMETHING THAT'S, SO THE LAST THREE ITEMS, THE, THE FIRST FOUR, FOUR OR FIVE ARE SORT OF SELF-EXPLANATORY. 
          THE LAST THREE GET CONFUSING TO ME. 
          AUTO-ENROLL FOR 2% CONTRIBUTION. 
          WHERE DOES THAT 2% COME FROM? IS IT PART OF WHAT'S ALREADY BEEN CONTRIBUTED, WILL GO TO THAT 401K OR IS AN ADDIT ADDITIONAL ON TOP OR WHAT? NO. 
          SO THEY'RE REQUIRED TO CONTRIBUTE 5%, RIGHT? THEY'RE TOLD WHEN THEY COME IN, YOU'RE AUTO-ENROLLED FOR 2% AND YOU HAVE THE ABILITY TO OPT OUT. 
          NOW WHAT DOES THAT MEAN? YOU'RE AUTO-ENROLLED, WHICH MEANS YOUR AUTO, YOUR FROM PAYROLL DEDUCTION IS GOING INTO YOUR 4 0 1. 
          OKAY. 
          2%. 
          SO IT'S ALREADY THERE. 
          IT'S NOT ON TOP OF. 
          OKAY. 
          WELL IT'S ON TOP OF THE FIVE, SO IT'S 7%. 
          OH. 
          OH. 
          SO WE'RE UP SEVEN. 
          ALL RIGHT. 
          RIGHT. 
          BUT THAT'S BUILT INTO THE HYBRID PLAN. 
          THEY, THEY CAN OPT OUT THAT AND SAY, YOU KNOW WHAT? I DON'T WANT TO ADD THAT EXTRA INTO MY RETIREMENT. 
          OUR RECOMMENDATION IS ALWAYS THAT YOU DO, BUT THEY CAN OPT OUT OF THAT. 
          OKAY. 
          AND THIS COMBINATION PENSION. 
          EXPLAIN THAT. 
          YES MA'AM. 
          SO, UH, AGAIN, THERE'S A DEFINED BENEFIT PENSION PLAN COMPONENT TO THIS, WHICH IS YES, SLOW DOWN. 
          I'M, I'M DENSE. 
          IT'S A, IT'S A TRADITIONAL PENSION PLAN. 
          OKAY. 
          MARRIED TO A 401K. 
          RIGHT? SO YOU GET TWO COMPONENTS. 
          SO YOU HAVE THE COMFORT OF KNOWING, OKAY, I HAVE A SMALL PART OF MY INCOME THAT'S GUARANTEED DEFINED BENEFIT. 
          THE BENEFIT IS GUARANTEED BASED ON YOUR YEARS OF SERVICE. 
          IF YOU ARE HERE FIVE YEARS OR MORE, YOU'RE GONNA GET SOMETHING IN YOUR RETIREMENT NO MATTER HOW LONG YOU LIVE. 
          AND IT'S A 1% MULTIPLIER, WHICH IS A VERY, VERY MODEST BENEFIT. 
          AND I TALKED ABOUT 1.5%. 
          WHAT WE HAVE IN THE LEGACY PLAN, THIS DROPPED IT DOWN TO 1%. 
          AND SO, UM, THE 401K OF COURSE IS THE 5% THAT, WELL, ACTUALLY I PROBABLY SHOULDN'T EVEN PUT THE 5% THERE BECAUSE I DON'T KNOW THAT THAT APPLIES THAT MUCH. 
          BUT, UM, SO YOUR 401K OF COURSE IS DEFINED CONTRIBUTION. 
          SO HOWEVER MUCH ASSETS YOU HAVE GROWN BY THE TIME YOU RETIRE, YOU START TO THEN DRAW DOWN ON THOSE. 
          AND THAT HAS A LIMIT TO IT. 
          THE PENSION PART DOESN'T, IT'S UNTIL YOU DIE. 
          RIGHT. 
          OKAY. 
          THAT HELPS. 
          THE, THE PROJECTIONS THAT THE TCRS PROFESSIONALS DID, LOOKING BACK AT THE HISTORIC PERFORMANCE OF THE STOCK MARKET, FOUND THAT TWO EMPLOYEES EQUALLY SITUATED, ONE IN THE LEGACY PLAN AND ONE IN THE HYBRID PLAN, HYBRID PLAN EMPLOYEE WOULD DO BETTER OVER TIME THAN THE, THE PERSON IN THE, IN THE LEGACY PLAN BECAUSE OF STOCK MARKET PERFORMANCE. 
          THE CITY DOES BETTER WITH THE HYBRID PLAN BECAUSE IT LIMITS OUR OBLIGATIONS. 
          SO, UM, IF THIS NEW OPTIONAL, I'M TRYING TO REALLY UNDERSTAND THIS. 
          THE NEW OPTIONAL WOULD TAKE AN EMPLOYEE THAT WAS ON THE PRE HYBRID OR PRE BRIDGE PLAN UP FROM 6.4% TO 59% IMMEDIATELY. 
          WELL, LET ME, I MEAN, UPON RETURN, YEAH, LET ME, LEMME WALK. 
          'CAUSE IT IS ACTUALLY ON TOP OF THE, UM, THE BRIDGE BENEFIT. 
          OKAY. 
          'CAUSE WE HAVE THE BRIDGE BENEFIT. 
          NOW THAT'S OUR PLAN. 
          THIS WOULD BE ON TOP OF IT. 
          BUT, BUT I THOUGHT THAT OKAY. 
          BUT THE BRIDGE BENEFIT, THE BRIDGE PLAN THAT APPLY TO EVERY, EVERY EMPLOYEE THOUGH IN PUBLIC SAFETY, DOES IT SWORN S FIREFIGHTERS AND POLICE AND IT WHAT ABOUT THE ONES PRE 2009? OH, SO WHAT I WAS DOING, I WAS JUST SHOWING THE HISTORICAL EVOLUTION OF OUR PENSION PLAN. 
          EVERYBODY IN PUBLIC SAFETY IS COVERED BY THE BRIDGE BENEFIT NOW. 
          OH, OKAY. 
          GOTCHA. 
          THAT'S WHAT I WAS ASKING EARLIER. 
          HOW MANY WORK? YEAH, EVERY, EVERYBODY'S COVERED BY THE BRIDGE BENEFIT NOW. 
          OKAY, THIS THEN SEEKS TO HELP THEM ALL THE WAY TO AGE 67. 
          WHEREAS THE BRIDGE BENEFIT JUST TAKES 'EM TO EARLY RETIREMENT SOCIAL SECURITY AT 62, THIS WOULD TAKE THEM TO FULL SOCIAL SECURITY AGENT 67 OR 66.5. 
          YOU KNOW, HOWEVER THE FEDERAL GOVERNMENT DEFINES IT. 
          UH, THE YEARS OF SERVICE AND THE AGE REQUIREMENTS REMAIN UNCHANGED, BUT IT ADDS A 0.37% TO THE MULTIPLIER FROM AGE 60 TO 67. 
          RECALL 
          [01:10:01]
THE PREVIOUS ONE WAS 55 TO 62. 
          SO NOW THERE'S AN OVERLAP AT AGE 60 AND 61 WHERE IT'S KIND OF, UH, EVEN DOUBLE BANG FOR YOUR BUCK, UH, DOUBLE DIPPING ON THOSE TWO DIFFERENT BENEFITS. 
          'CAUSE THEY OVERLAP. 
          AND THAT'S WHERE YOU SEE HERE, I PUT IT IN A DIFFERENT COLOR. 
          SO YOU COULD SEE THAT, YOU KNOW, YOU'RE GOING FROM 59% TO 68% OR FROM A 70 TO 81% FOR THOSE TWO YEARS. 
          BUT THEN THIS IS THE REST OF IT THAT TAKES YOU OUT TO AGE 67. 
          SO FROM 40% TO 49, OR FROM 48 TO 59%, DEPENDING ON WHETHER YOU'RE TALKING ABOUT A 25 OR A 30 YEAR EMPLOYEE. 
          SO FOR THE CITIES LIKE BRENTWOOD WITH THE BRIDGE AND THE PLAN OVERLAPS AT 60 AND 61, UH, I ASKED TCRS, HOW MANY OTHER FOLKS ARE CONSIDERING THIS RIGHT NOW? AND THEY SAID THERE ARE 22 WHO HAVE ASKED FOR THE ACTUARIAL REPORT. 
          AND HE SAID, WE'RE SEEING IT. 
          I DON'T THINK HE COMPARED 'EM TOTALLY, BUT HE SAYS IT'S LARGELY THE FOLKS WHO HAD THE BRIDGE BENEFIT ARE LOOKING AT THIS JUST TO SEE, BECAUSE HE SAID, HONESTLY, THOSE ARE THE FOLKS WHO CONT TEND TO AFFORD IT. 
          UM, ONLY ONE MONTGOMERY COUNTY HAS ADOPTED IT SO FAR. 
          BUT THAT'S REALLY TO BE EXPECTED. 
          OTHERS WOULD NOT BECAUSE WE'RE IN BUDGET SEASON NOW. 
          AND NOW'S THE TIME THEY'RE HAVING THOSE CONVERSATIONS. 
          DO WE KNOW IF MONTGOMERY COUNTY, WHERE THEY FALL IN, BECAUSE YOU SAID THE, FOR THE YOUNGER OFFICERS AND SO FORTH COMING ON BOARD, THEY'RE MORE ABOUT THE HIGHER PAYCHECK. 
          RIGHT NOW, WHERE DOES MONTGOMERY COUNTY FALL IN TERMS OF SALARY LIKE WE DO? WE'RE OBVIOUSLY COULDN'T, I COULDN'T TELL YOU. 
          I DON'T, I DON'T KNOW THAT ANSWER. 
          I DO KNOW JUST TALKING, THE FOLKS AT TCRS, THEY SAY THAT PUBLIC SAFETY IS BECAUSE IT'S MONTGOMERY COUNTY CLARKSVILLE, UM, PUBLIC SAFETY IS, THEY, THEY, THEY JUMP ON THINGS LIKE THAT. 
          AND THEIR SHERIFF IS VERY AGGRESSIVE IN TRYING TO GET THOSE THINGS DONE. 
          SO KIND OF, THEY'RE A LITTLE BIT OF AN OUTLIER, IF YOU WILL. 
          MM-HMM. 
          UM, BUT I HAVEN'T HEARD FROM ANY OTHERS AROUND THE STATE. 
          I ACTUALLY PUT IT OUT TO TCMA AND, UH, HAVEN'T HEARD ANYTHING BACK. 
          'CAUSE I THINK OTHERS ARE IN THE SAME BOAT THAT WE'RE IN RIGHT NOW. 
          LET ME ASK YOU A QUESTION. 
          WE TRY TO MAKE SURE ALL OF OUR IS FUNDED, YOU KNOW, 'CAUSE YOU, IT SOUNDS GOOD WHEN YOU HIRE SOMEBODY TO PROMISE ALL THIS, BUT IF THE MONEY ISN'T THERE WHEN THEY RETIRE, IT'S, IT'S NOT A GOOD THING. 
          THESE EXTRAS THAT WE PROMISED SOME OF OUR COUNTIES, HOW CAN THEY EVEN AFFORD TO PROMISE THAT? YOU KNOW? I MEAN, IS IT IN GOOD FAITH WHEN THEY DO THAT? THEY DON'T. 
          OH, THAT'S, I WAS GONNA SAY, THAT'S WHY THERE'S ONLY 22. 
          THEY CAN BARELY AFFORD TO OPERATE SOME OF 'EM. 
          THAT'S WHY THERE'S ONLY 22 CITIES IN THE, IN THE STATE. 
          AND, AND AGAIN, THE NUMBER OF TOTAL, I SAID OUT OF 640, WAS IT 42? YEAH, THAT WAS 2242 TOTAL CITY AND COUNTY PLANS. 
          I DON'T KNOW HOW MANY ARE COUNTIES. 
          YOU ASKED ABOUT COUNTIES, BUT YOU KNOW, THAT'S WHY THERE'S ONLY 42 PLANS OUT OF 600 INCLUDE THAT BECAUSE THERE'S A COST TO THIS AND IT'S ON THE OPEN-ENDED SIDE, IF YOU WILL. 
          OKAY. 
          IT, IT, IT'S AN OBLIGATION THAT YOU'RE MAKING THAT'S, THAT'S OPEN-ENDED. 
          SO LEMME CONTINUE ON AND SHOW I THAT POINT ABOUT MONTGOMERY COUNTY. 
          UH, AND IF YOU BELIEVE EVERYTHING YOU READ ON THE INTERNET, WE KNOW SOME DO. 
          BUT, UM, UM, STARTING, UM, PAY DIFFERENTIAL BRENTWOODS 36% MORE, UH, THAN MONTGOMERY COUNTY. 
          THANK YOU FOR THAT. 
          OKAY. 
          UH, THIS IS, YOU KNOW, THIS, THIS, UH, INFORMATION THAT I SENT YOU IN HERE DIDN'T LAST VERY LONG. 
          UH, BECAUSE LITERALLY THE NEXT DAY YESTERDAY, UH, KAREN AND JULIE WERE ABLE TO SEND ME THE NEW TCRS, UM, REPORT THAT HAS COME OUT, WHICH IS INCREASING OUR OBLIGATION TO THE PENSION PLAN THAT YOU CAN SEE HERE, UH, THE LEGACY PLAN. 
          SO FOR PUBLIC SAFETY, THAT 8.49% THAT I MENTIONED TO YOU AND HAD PREVIOUSLY DONE CALCULATIONS ON BEFORE WE DO ANYTHING, IT'S GOING UP TO 9.68% ECDS GOING FROM, UH, 3.94 TO 4.95. 
          THE HYBRID PLAN, YOU CAN SEE THAT THE, THE DIFFERENCE IN THE INCREASE 3.03 TO ONLY 3.08. 
          THAT'S BECAUSE WE HAVE A MUCH DIFFERENT STRUCTURE THERE AND COST CONTROLS. 
          SO THE ACTUARIAL REPORT ACTUALLY IS NOT MAKING MUCH OF A CHANGE. 
          IT'S A VERY SLIGHT ONE, BUT VERY DIFFERENT UP IN THE LEGACY PLAN, UM, FOR OBVIOUS REASONS. 
          SO, WANTED TO GET TO HERE. 
          JUST GO AHEAD AND OPEN UP ALL THOSE. 
          THIS I HAD TO CHANGE TO 9.68% TO REFLECT WHAT WE'RE GOING TO HAVE TO DO. 
          OUR ELECTIVE CONTRIBUTION RATE AS WE'VE BEEN PUTTING IN 15.5% AND OUR OVERFUNDING IS AT, WILL BE AT 
          [01:15:01]
FOR FISCAL YEAR 2026. 
          IF WE DO NOTHING, 5.82%, THAT WILL STILL BE IN ADDITION TO WHAT WE'RE OBLIGATED TO PAY IF WE WERE TO ADOPT THE HAZARDOUS DUTY. 
          THEN YOU'VE GOT THE 9.68% AND THEN THROWING IN FOR THE SAKE OF CONVERSATION, AMORTIZATION OF 5.9%. 
          IF WE PAY FOR IT OVER 10 YEARS, THEN NOW THAT TAKES US DOWN TO A NEGATIVE OVERFUNDING RATE. 
          IT TOTALLY WIPES OUT OUR OVERFUNDING RATE. 
          AND WE HAVE TO PAY A LITTLE BIT MORE BECAUSE THIS, THIS NUMBER WENT UP TO 9.68%. 
          AND YOU CAN SEE THAT IT JUST IN ONE ACTUARIAL REPORT, WE HAD A 23% INCREASE FROM 4.99 TO 6.18 FOR GENERAL EMPLOYEES. 
          IT ACTUALLY, UM, WENT FROM 8.49 TO 9.68 OR A 14% INCREASE. 
          I'M SORRY, THIS IS GENERAL EMPLOYEES GOTTA GET THAT RIGHT. 
          AND THEN THIS IS PUBLIC SAFETY. 
          NOW THE REASONS WHY, YOU KNOW, WHY IS THERE A DIFFERENCE BETWEEN THE TWO? UH, THE PLANS ARE STRUCTURED A LITTLE BIT DIFFERENT. 
          UH, AND I THINK IT'S PROBABLY TURNOVER THAT'S RESULTING IN, YOU KNOW, PUBLIC SAFETY TURNOVER THAT'S, UH, RESULTING IN THAT DIFFERENCE. 
          SO AGAIN, 12 POINT UH, PERCENT IS HOW MUCH WE'VE BEEN FUNDING TO, UH, GENERAL EMPLOYEES AND 15.5% FOR PUBLIC SAFETY. 
          103.4% WAS THE 2024 NUMBER. 
          I DON'T KNOW WHAT THE NEW NUMBER WILL BE. 
          WE DON'T HAVE THAT YET. 
          AND OF COURSE, OUR ASSUMED RATE OF RETURN, OUR DISCOUNT RATE IS 6.75%. 
          IF WE WANTED TO PAY THIS ALL AT ONCE, IT'S ABOUT $3 MILLION BETWEEN THE TWO. 
          AND THEN THAT WAS WHAT IT DOES TO US IF WE WANTED TO TRY AND ADVERTISE IT. 
          SO FOR 10 YEARS, IT'S ABOUT $300,000 A YEAR. 
          YEAH. 
          LET'S GO BACK THIS POINT UP HERE THAT I ASKED EARLIER. 
          I YOU, YOU ORIGINALLY TOLD ME 59% OF THE CURRENT SWORN PUBLIC SAFETY WERE IN THE LEGACY AND THEN 41% HYPER. 
          SO I WENT BACK AND I ASKED YOU, AND I SAID, WELL, BASED ON THIS CHART, THE LEGACY IS THE PRE 2009, RIGHT? NO, THE WHOLE THING IS LEGACY. 
          THIS WHOLE THING IS ALL LEGACY. 
          THAT'S WHY IT SAYS AT THE TOP LEGACY, BECAUSE THAT'S WHERE THE MAJORITY OF OUR EXPENSES ARE AND WHERE THE BIGGEST PART OF THIS IMPACT IS WHERE YOU SEE THE THREE, THE $2.9 MILLION. 
          THAT'S ALL LEGACY. 
          THAT'S ALL WE'RE TALKING ABOUT RIGHT NOW. 
          SO, WELL IT WOULD, IT WOULD, IT WOULD AFFECT BOTH. 
          BUT FOR THE SAKE OF THIS CONVERSATION, YOU NEED TO BE THINKING ABOUT THE LEGACY PLAN BECAUSE THAT'S WHERE THE MAJORITY OF YOUR LIABILITIES ARE. 
          $3 MILLION VERSUS 33,000. 
          IT'S ALSO THE ONE THAT GOES OFF THE BOOK QUICKER. 
          SURE. 
          THEY'RE NOT, WE'RE NOT GETTING ANYBODY ELSE THAT'S COMING IN THAT'S JOINING THAT PLAN. 
          AND, AND SO OVER THE NEXT FIVE OR 10 YEARS, MANY OF THOSE WILL BE RETIRED. 
          YOUR OBLIGATIONS TO MAINTAIN IT REMAIN UNTIL THEY DIE. 
          RIGHT? SO WHEN THE LAST PERSON WHO JOINED LEGACY PLAN DIES, THAT'S WHERE, BUT IT GOES WAY DOWN. 
          ONCE THEY HIT IT WOULD, IT WOULD, IT WOULD GO DOWN 67 AND IT ACTUALLY GOES WAY DOWN AT 62 WITHOUT THE, THE NEW, UH, PUBLIC SAFETY OFFICER HAZARDOUS DUTY. 
          I DON'T, A 62 TO 67. 
          IT ACTUALLY GIVES THEM A GOOD BRIDGE UNTIL THEY CAN REACH FULL SOCIAL SECURITY BENEFITS. 
          AND EVERYBODY NEEDS TO UNDERSTAND PUBLIC SAFETY IS NOT THE SAME AS OFFICE WORKERS. 
          WHEN YOU LOOK ACTUARILY 'CAUSE OF THE STRESSES THEY'RE UNDER, THEY MUCH HAVE A MUCH HIGHER RATE OF CARDIOVASCULAR DISEASE. 
          UH, THEY SUFFER WITH PTSD SICKNESSES THAT COME FROM PTSD AND MANY THINGS. 
          SO THEIR LIFE EXPECTANCY IS NOT THE SAME AS A GOVERNMENT EMPLOYEE THAT IS AN OFFICE WORKER. 
          AND ALSO THAT IS PART OF THE REASON WHY OFTEN THEY DO RETIRE EARLIER IS BECAUSE OF SOME OF THE HEALTH OR DIFFERENT ISSUES. 
          SO AS I'VE LOOKED AT THIS, AND WHEN I LOOK AT THE COST OF IT, AND I THINK WE NEED IT FOR RECRUITMENT AND RETENTION, I DON'T CARE WHAT THE OTHER CITIES ARE DOING NOW, I THINK MANY WILL ADOPT IT. 
          AND I DON'T NECESSARILY WANT TO COMPARE OURSELVES WITH CLARKSVILLE. 
          I THINK BRENTWOOD IS AN OUTSTANDING COMMUNITY AND I THINK THE CITIZENS OF BRENTWOOD REALLY WANT THE ABSOLUTE HIGHEST LEVEL OF SAFETY PERSONNEL. 
          THIS ALSO HELPS RECRUIT OLDER OFFICERS FROM OTHER PLACES. 
          AND WE'RE SEEING THAT EVEN NOW. 
          BUT WE MAY SEE IT MORE. 
          SO I, I, I JUST, I'LL TELL YOU, AND I, YOU KNOW, MADE SEVERAL NOTES AND WHATEVER AND STUDIED THIS, BUT I REALLY FEEL LIKE THIS IS IMPORTANT FOR US TO, TO NOT JUST GO, WELL LET'S DO, 'CAUSE WHEN I LOOK AT THE COST OF IT, AND I KNOW THOSE COSTS CAN AND PROBABLY WILL GO UP SOME, 
          [01:20:01]
BUT WE'RE GONNA PROBABLY BE IN A BATTLE WITH OTHER COMMUNITIES, ESPECIALLY COMMUNITIES OF EXCELLENCE, NOT JUST IN THE STATE OF TENNESSEE, BUT THE UNITED STATES OF AMERICA TO HAVE EXCELLENT PUBLIC SAFETY PERSONNEL, BOTH AT THE FIRE DEPARTMENT AND THE POLICE DEPARTMENT AND MONEY SALARY IS GONNA BE PART OF IT. 
          AND WE'RE GONNA PROBABLY DO SOME CHASING OVER THE NEXT THREE TO FIVE YEARS. 
          AND IT MAY GO ON INDEFINITELY TO FIND THE PERSONNEL NECESSARY TO STAFF THOSE. 
          UM, EVEN IN 2009, WHICH IS WHEN I FIRST BECAME A COMMISSIONER, WE HAD HUNDREDS SOMETIMES, BUT AT LEAST A HUNDRED PEOPLE THAT WOULD COME IN AND TEST FOR THE POLICE DEPARTMENT BECAUSE I CAN REMEMBER RICKY WATSON GOING, THERE WERE ONLY TWO THAT REALLY QUALIFIED, BUT WE DID HAVE A HUNDRED PEOPLE COME IN. 
          BUT WE HAVE REAL HIGH STANDARDS HERE. 
          THAT'S NOT HOW IT IS NOW. 
          YOU DON'T HAVE A HUNDRED PEOPLE IN MY PROFESSION, WHICH IS A HARDER AND LABOR TYPE PROFESSION. 
          I DON'T HAVE 20 AND 30 APPLICANTS WITHIN THREE DAYS OF PLACING A JOB AD IT'S JUST A FACT OF LIFE. 
          IT'S, IT'S WHERE PEOPLE HAVE CHOSE CAREER PATHS. 
          SO I, I THINK I'M ALWAYS REAL STRICT WITH OUR MONEY, BUT A CORE RESPONSIBILITY OF GOVERNMENT IS PUBLIC SAFETY. 
          AND I'VE STUDIED THIS AND I HAVE SEVERAL MORE BITS OF DOUBT. 
          I JUST DON'T WANNA, YOU KNOW, TELL EVERYBODY EVERYTHING. 
          IF THEY DON'T WANT TO HEAR IT, I REALLY THINK WE NEED TO CONSIDER THIS. 
          IF IT WAS $3 MILLION A YEAR, I WOULD BE VERY HARD PRESSED TO SAY, YES, WE NEED TO DO IT. 
          BUT RIGHT NOW IT'S $300,000 A YEAR AND THAT AGE BETWEEN 62 AND 67 FOR SOMEONE WHO NEEDS TO RETIRE EARLY OR HAS TO RETIRE EARLY, IS VERY IMPORTANT BEFORE THEY RECEIVE FULL SOCIAL SECURITY BENEFITS. 
          SO I SET IT AT THE BUDGET MEETING THAT WHEN IT WAS BROUGHT UP, I THINK I WAS ONE OF THE ONLY ONES TO TALK ABOUT IT. 
          BUT I THINK THIS IS A SITUATION WE CAN VERY EASILY BE PENNYWISE AND POUND FOOLISH. 
          SO I, THAT'S, THAT'S MY OPINION. 
          I'M JUST ONE OF SEVEN COMMISSIONERS. 
          BUT I I, I FEEL VERY STRONGLY ABOUT THIS, UM, JUST BECAUSE OF ALL THE, THE THINGS THAT OUR PUBLIC SAFETY PERSONNEL DO FOR US, BUT HAVE TO GO THROUGH IN THE LINE OF DUTY. 
          IT IS A NOBLE AND HONORABLE PROFESSION, BUT IT'S ALSO A DIFFICULT PROFESSION BECAUSE OF DIFFERENT REQUIREMENTS ON THEM THAT THE AVERAGE WORKER IN ANY PROFESSION DOES NOT HAVE TO FACE ON A DAILY BASIS, A WEEKLY BASIS, A YEARLY BASIS. 
          SO I SAID MY PIECE, I'LL ANSWER QUESTIONS IF SOMEBODY WANTS TO KNOW, GOTTA WRAP UP QUICK BECAUSE OBVIOUSLY THIS IS A CONVERSATION YOU GUYS NEED TO HAVE. 
          BUT I JUST WANTED TO FINISH ONE LAST SLIDE, IF YOU DON'T MIND. 
          UM, AND JUST, YOU KNOW, WHY WAS STAFF'S RECOMMENDATION TO NOT ADOPT THIS, THE HIGH COST? OBVIOUSLY IT'S A VERY, UH, VERY EXPENSIVE, UM, PROPOSITION. 
          THE HAZARDS DUTY BENEFIT CREATES PENSION LIABILITIES THAT CURRENTLY DO NOT EXIST. 
          AND WE LOOKED AT THE FACT THAT WE ADOPTED THE LEGACY PLAN AS AN EFFORT TO TRY AND REDUCE THAT. 
          THIS JUST TURNS AROUND AND INCREASE THE TALK ABOUT LINE TWO IN MORE DETAIL. 
          YES. 
          SO EXAMPLES FOR WHAT DO YOU MEAN? YEAH, SO WHAT I MEAN IS THAT POINT CAN'T SPEAK SECOND CAN THE, THE 0.3 7, 3 5, 7% THAT YOU'RE ADDING TO THE MULTIPLIER IS ON THE LEGACY PLAN. 
          SO YOU'RE CREATING A PENSION LIABILITY THAT DOESN'T EXIST TODAY. 
          YOU'RE GIVING A BENEFIT IN THE LEGACY PLAN. 
          OKAY. 
          AND AGAIN, IT'S, IT IS FOR THE HYBRID PLAN TOO, BUT THE LEGACY PLAN IS WHERE IT'S EXPENSIVE. 
          THAT 0.375, UH, PERCENT IS ADDING TO YOUR UNFUNDED LIABILITY, WHICH, WHICH IS WHY YOU GOTTA PAY $3 MILLION FOR IT. 
          AND IN THE FUTURE, IT ADDS TO HOW MUCH YOU MIGHT OWE IF YOU HAVE POOR PERFORMANCE IN THE STOCK MARKET OR YOU CHANGE YOUR ACTUARIAL ASSUMPTION, SUCH A MORTALITY TABLE OR RETIREMENT, UH, RATES AND, AND THAT TYPE OF THING. 
          SO, AND SO THAT IS NOW, WHILE IT'S UM, $3 MILLION TODAY, UM, IT'S AN UNKNOWN POTENTIAL LIABILITY. 
          IT IS. 
          SO IT'S 300,000 A YEAR PLUS AN AN UNKNOWN. 
          PLUS AN UNKNOWN. 
          AND IS THAT THE CORE REASON WHY STAFF DIDN'T RECOMMEND DOING THIS? I WOULD SAY CERTAINLY, YES. 
          THAT'S THE CORE REASON, THE $3 MILLION. 
          AND REMEMBER WHEN WE ADOPTED THE BRIDGE BENEFIT, ACTUALLY PUBLIC SAFETY HAD 
          [01:25:01]
SAID, WELL, WE'LL PAY FOR THAT. 
          UH, AND I KNOW THAT THAT WAS PART OF THE DIALOGUE BACK THEN THAT I COULD SEE THAT, UM, BECAUSE OTHER EMPLOYEES WEREN'T GETTING ANY IMPROVEMENT IN THEIR RETIREMENT. 
          THEY SAID, WE CAN DO THIS. 
          BUT IF YOU'RE WILLING TO FOREGO A RAISE AND THAT, AND WITH THIS OBVIOUSLY THAT WE HAVEN'T TALKED ABOUT ANYTHING LIKE THAT. 
          SO, UM, I, I'VE BEEN ON THE, I'VE BEEN ON THE POOR SIDE OF, OF PENSION PLANS IN THE PAST AS A CITY MANAGER. 
          AND I MENTIONED THIS TO COMMISSIONER SPEARS AND IT'S, IT'S, UM, IT'S KIND OF A DARK CHAPTER FOR ME BECAUSE I WAS IN FLORIDA IN A COMMUNITY THAT HAD A LOCAL PENSION PLAN THAT HAD BECOME UNSUSTAINABLE. 
          AND WE HAD ALREADY DONE REDUCTIONS IN FORCE, BOTH THROUGH ATTRITION AND THROUGH LAYOFFS. 
          WE HAD HIT EVERYTHING WE COULD. 
          THE ONLY THING WE COULD DO AFTER THAT, LET'S FREEZE THE PENSION PLAN. 
          NOW FREEZING DOESN'T MEAN YOU CAN UNFREEZE IT. 
          FREEZING IS THE WAY YOU CLOSE A PENSION PLAN. 
          IT JUST MEANS NOBODY, NOBODY ACCRUES ANY ADDITIONAL SERVICE WITHIN THAT PLAN. 
          AND YOU REPLACED IT WITH A 4 0 1. 
          THAT'S DARK NIGHT OF THE SOUL TYPE STUFF. 
          WHEN YOU SEE A PLAN BECOME UNSUSTAINABLE AND YOU HAVE TO FREEZE IT AND REPLACE IT WITH A 4 0 1, THAT'S JUST MY BIG FEAR IN THIS IS THAT QUESTION ON THAT PLAN, WERE A HUNDRED PERCENT OF THE EMPLOYEES AND WHAT WOULD BE OUR LEGACY? OR HAD YOU ALREADY SHIFTED, SAY 50% OR 40% OF THE EMPLOYEES TO A HYBRID PLAN WITH 401K, IT WAS THE EQUIVALENT OF LEGACY PLAN. 
          100%. 
          OKAY. 
          SO IT'S DIFFERENT THAN OUR SITUATION. 
          AND BY THE SAME TOKEN TO SAY THE STOCK MARKET DOES REAL WELL, IT IS POSSIBLE THAT THE 300,000 COULD BE REDUCED, CORRECT? UM, NO. 
          STILL TO DO THAT. 
          YEAH. 
          NO, IT'S NOT BECAUSE THE, YOU IMMEDIATE, YOU CREATE AN IMMEDIATE UNFUNDED LIABILITY THAT'S, THAT'S RETROSPECTIVE. 
          BUT IF IT, IF YOU COULD REDUCE ANY FUTURE INCREASES IF YOU HAD POSITIVE, THE STOCK MARKET DOES REALLY WELL. 
          LET'S, LET'S JUST DO A SPECULATIVE, UH, SCENARIO BECAUSE ALL THIS IS SPECULATIVE. 
          'CAUSE YOU'RE LOOKING AT FUTURE VALUE OF MONEY, LET'S SAY ALL THE DIFFERENT THINGS THAT ARE GOING ON. 
          AND SUDDENLY THE STOCK MARKET STARTS DOING REAL WELL. 
          INVESTMENTS DO REAL WELL, NOT EVEN TWO YEARS FROM NOW, THREE OR FOUR, FIVE YEARS FROM NOW. 
          IT COULD REDUCE ANY UNFUNDED LIABILITY JUST ON WHAT WE'RE MAKING, ON THE MONEY THAT WE ALREADY HAVE IN THE PLAN. 
          CORRECT. 
          SO WE, THAT SEESAW CAN GO BOTH WAYS. 
          YES. 
          OKAY. 
          JOE, THIS, THIS WAS POSTED BY THE CITY OF BRENTWOOD POLICE DEPARTMENT THIS WEEK. 
          IT JUST HAPPENED TO, YOU KNOW, ABOUT THE SAME TIME THIS CAME IN, BRENTWOOD POLICE OFFICERS ARE AMONG THE HIGHEST PAID OFFICERS IN TENNESSEE PR EARN $64,032, 65,238 IF YOU HAVE A BACHELOR'S DEGREE. 
          AND IT GOES ON THROUGH THAT. 
          AND, YOU KNOW, I, I THINK TOO, AND, AND I THINK BACK, I THINK WHEN YOU'RE HIRING, I THINK PEOPLE ARE LOOKING AT THAT SHORT TERM, HOW MUCH ARE YOU GONNA PAY ME? AND WE'RE ONE OF THE HIGHEST PAID DEPARTMENTS. 
          WE HAVE A FAIR RETIREMENT. 
          AND BASED ON WHAT WE'RE SAYING RIGHT HERE, THAT THAT GIVES ME ANGST TO, TO THINK ABOUT THIS PLAN. 
          AND IT'S, I THINK WE'VE BEEN VERY GOOD AND THAT EVERYBODY AGREES. 
          EVERYBODY AGREES. 
          PUBLIC SERVICE IS SO, SO IMPORTANT. 
          BUT THE ANGST THAT WE HAVE WITH THIS, I GOT IT TOO BECAUSE OF THE, THE UNKNOWN UNKNOWN. 
          THAT UNKNOWN NUMBER. 
          I HAVE A QUESTION. 
          LET ME MAKE JUST A SUGGESTION. 
          LET'S LET JAY GET THROUGH THIS SLIDE. 
          OKAY. 
          I'M SORRY. 
          AND THEN LET'S START TO OPEN IT UP AND THEN I'D LIKE TO HEAR FROM, UH, SPECIFICALLY FROM UM, BPR CHIEF, UM, BECAUSE THAT'S WHERE WE HAVE MORE OF AN ISSUE FROM A RECRUITING PERSPECTIVE. 
          YES, SIR. 
          SO YOU HAD A QUESTION FOR US. 
          WELL, HE, WE WANTED TO GET THROUGH THE SLIDE FIRST. 
          YEAH, WELL I HAVE A QUESTION ABOUT THIS SLIDE WHILE WE'RE STILL ON IT. 
          EXPLAIN THE LAST SLIDE. 
          I I'M HAVING ALREADY. 
          I'M GONNA, IT'S HE'S OH, OH, OKAY. 
          I THOUGHT YOU GOING THE NO, THE MAYOR WAS SAYING JAY. 
          HE WAS TELLING JAY, GET THROUGH IT . 
          SO, UH, OBVIOUSLY THIS BENEFIT WOULD ELIMINATE THE OVERFUNDING CURRENT, CURRENTLY PROVIDING PROTECTION FROM ASSUMPTION CHANGES IN POOR INVESTMENT PERFORMANCE. 
          AND AS YOU SAW, IT WOULD ACTUALLY PUT US IN A DEFICIT. 
          SO WE'D HAVE TO INCREASE OUR FUNDING. 
          THE BRIDGE BENEFIT ALREADY BESTOWS UPON PUBLIC SAFETY, A HIGHER BENEFIT LEVEL. 
          AND THEN I THINK YOU CAN SEE IN THE PLAN THAT THE BRIDGE AND THE HAZARDOUS DUTY BENEFITS, THEY OVERLAP. 
          AND SO THEY'RE NOT NECESSARILY DESIGNED TO BE STACKED TOGETHER BECAUSE WE DON'T NEED FROM, THERE'S NOTHING MAGIC ABOUT 61 AND, UH, AND 60 AND 61 IT AND, AND MOST FOLKS WHO WOULD CONSIDER THIS DON'T HAVE THE BRIDGE BENEFIT AND WE DO. 
          OKAY. 
          SO THAT, THAT IS MY QUESTION ON THAT 60 TO 61. 
          'CAUSE YOU'RE TALKING 
          [01:30:01]
ABOUT STACKING, IF, IF WE WERE TO ADOPT THIS HAZARDOUS DUTY SUPPLEMENTAL BENEFIT ON TOP OF OUR OTHERS AND WE'RE STACKING, ARE WE ACTUALLY POSSIBLY ENCOURAGING SOME OF THESE, UM, FIRST RESPONDERS WHO HAVE BEEN HERE AND HAVE LEADERSHIP AND HAVE THE WISDOM TO GO ON AND RETIRE AT 60 AND 61? ARE WE ENCOURAGING THEM TO LEAD BECAUSE OF THIS? THAT'S, I DON'T WANNA LOSE OUR GOOD LEADERSHIP PEOPLE IF THAT THAT'S INTERESTING. 
          SO, SO THEY ALREADY HAVE A MANDATORY RETIREMENT AGE OF 60 MM-HMM . 
          RIGHT? OKAY. 
          HOWEVER, THAT DOESN'T APPLY TO CHIEFS OR ADMINISTRATIVE PERSONNEL. 
          IF YOU'RE HAVING, HAVING TO BE SWORN, BUT YOU'RE IN AN ADMINISTRATIVE ROLE, THEN YOU CAN GO I THINK TO 62 AND CHIEFS. 
          THERE IS NO AGE THE RETIREMENT AGE PER CHIEFS, IF I'M RIGHT. 
          UM, BUT IF THAT'S A, A BIG POPUP RIGHT THEN AND THEY'RE OF AN AGE WHERE THEY COULD LEAVE AND THEN GO GET EMPLOYED SOMEWHERE ELSE 'CAUSE THEY'RE STILL YOUNG ENOUGH TO GO GET EMPLOYED SOMEWHERE ELSE THAT JUST, WELL THEY'VE GOTTA GO, THEY'VE GOTTA GO AT 60. 
          OKAY. 
          UNLESS THEY'RE ADMIN OR CHIEFS, WHICH IS THAT LEADERSHIP WE'VE YEAH. 
          SUCCESSION POINT WE TRIED TO GROW. 
          DOES IT MAKE IT EASIER? POSSIBLY. 
          OKAY. 
          WHAT ABOUT THE ONES THAT HAVE TO RETIRE? THAT'S WHAT I'M CONCERNED WITH. 
          AND IT LOOKS TO ME THAT LIKE ONCE YOU HIT 67, THEY ALL ARE THE SAME. 
          SO IT'S NOT AN INDEFINITE LIABILITY ON THAT. 
          IT'S MAINLY TO BRIDGE 'EM BETWEEN 62 AND 67 YEARS OLD AND IT GIVES 'EM AN INCREASE AT 60 TO 61. 
          SO, YOU KNOW, AND THEY'RE, AGAIN, BECAUSE OF SHORT LIFESPAN AND, AND, AND THOSE TYPES OF THINGS, IT GIVES THEM A BETTER OPPORTUNITY TO RETIRE. 
          AND ESPECIALLY IF THEY'RE BATTLING A HEALTH ISSUE OR ISSUES FROM PTSD AND THEY CAN'T GO GET ANOTHER JOB OR IT'S BEST FOR THEIR HEALTH NOT TO GO GET ANOTHER JOB. 
          THAT'S MY CONCERN AS WELL. 
          SO, UM, UM, SO DO, DO YOU MIND GOING BACK TO THE SLIDE BEFORE THIS REAL QUICK? THANK YOU. 
          YOU SAID, UM, AS OF 6 30 24 THAT THE LEGACY PLAN WAS FUNDED AT 134 4%, BUT YOU WEREN'T SURE ABOUT WHAT HAPPENED THIS YEAR, WHAT WOULD BE AT THE END OF THIS FISCAL YEAR? BUT I'M ASSUMING IT'S GOING DOWN OR DO YOU KNOW? DON'T KNOW. 
          NOT NECESSARILY. 
          YEAH, YOU MARK. 
          RIGHT. 
          OKAY. 
          OH WAIT, I'M, AND I, I DIDN'T MENTION THIS, BUT IT'S WORTH NOTING THAT, UM, POOR INVESTMENT PERFORMANCE OR OR POSITIVE INVESTMENT PERFORMANCE, THERE'S A 10 YEAR SMOOTHING BUILT INTO THE PLAN. 
          SO YOU INCUR ONE 10TH OF THAT BENEFIT OR DETRIMENT BASED ON STOCK MARKET PERFORMANCE. 
          THAT'S MY QUESTION. 
          I'M SORRY. 
          WELL, I GUESS, I MEAN, AND WE'VE TALKED SOME ABOUT MARKET PERFORMANCE, IF IT GOES UP OR DOWN, CAN YOU GIVE A LARGE BALLPARK NUMBER OF WHAT, WHAT IS THE DOLLAR VALUE OF WHAT THIS COULD OPEN US UP TO? NO, NO, IT'S OKAY. 
          I, I'LL JUST, I'LL HAVE TO THINK ABOUT THIS ONE LONG AND HARD. 
          I, I SEE A LOT OF PROS FOR IT IN TERMS OF RETENTION AND THAT SORT OF THING, BUT I'M ALSO LOOKING AT THE FINANCIAL SIDE OF IT AND I COULDN'T DECIDE THIS MORNING. 
          I, I NEED TO GO HOME AND CONTEMPLATE THIS AND REALLY THINK ABOUT IT. 
          AND MY HUSBAND UNDERSTANDS INTEREST TOO. 
          I CAN ASK HIM TO EXPLAIN IT TO ME REAL SLOW. 
          AND I WELCOME ANYBODY THAT WANTS TO CALL ME THAT'S ON STAFF. 
          I'M HAPPY TO TALK TO YOU. 
          I, I'D LIKE TO HEAR FROM, UM, COLMAN AND, UM, NEW GUY, UH, IN THE ROOM, NEW CHIEF IN THE ROOM, UH, COME UP AND UH, AND TALK A LITTLE BIT ABOUT THIS AS A POTENTIAL RECRUITING, UH, TOOL. 
          UH, AND MAYBE IF THIS ISN'T A RECRUITING TOOL, OTHER IDEAS. 
          YEAH. 
          AND AS A RECRUITING TOOL, WE HAVE A VERY DIFFICULT TIME HELPING YOUNG PEOPLE UNDERSTAND THE BENEFIT OF OUR ENHANCED RETIREMENT THAT WE HAVE OUR BRIDGE BENEFIT. 
          UH, THAT'S A VERY DIFFICULT THING FOR US. 
          WE'VE, WE'VE TRIED TO MARKET IT IN SEVERAL DIFFERENT WAYS. 
          WE'VE TOLD THEM WE'RE ONE OF 20 TO 25 AGENCIES, UH, THAT HAS ADOPTED THAT PLAN IN THE STATE. 
          AND UNFORTUNATELY THEY'RE LOOKING AT THE IMMEDIATE EFFECT OF WHEN THEY GET HIRED, HOW MUCH IS GONNA BE IN THEIR PAYCHECK. 
          UH, AND A LOT OF THE PEOPLE THAT COME FROM SURROUNDING AGENCIES OR EVEN FROM OUT OF STATE WHO HAVE EXPERIENCE IN LAW ENFORCEMENT, THEY'RE INTERESTED IN THE STARTING PAY. 
          AND THEN ALSO WHAT'S MY PAY IN FIVE YEARS? WHAT IS THE TAKE HOME CAR POLICY? DO YOU OFFER SHIFT DIFFERENTIAL? WHAT ARE THE OPPORTUNITIES FOR ADVANCEMENT? UH, 
          [01:35:02]
A LOT OF PEOPLE ARE NOT FOCUSED ON 25 AND 30 YEARS FROM NOW. 
          WE HAVE A VERY DIFFICULT TIME CONVEYING THAT MESSAGE TO THEM. 
          BUT WE RE WE REQUIRE THEM TO PUT MONEY INTO THE 5% AND POSSIBLY 7% CORRECT. 
          WE, BECAUSE THEY'RE YOUNGER AND THEY DON'T GET IT. 
          SO WE'RE STILL GETTING 'EM TO DO IT THAT WAY. 
          AND THAT, UM, THE REASON WE WENT TO THIS BRIDGE WHEN WE STARTED THE WHOLE ADDING THE BRIDGE HISTORICALLY WAS BECAUSE WE WERE TRYING TO, THE CITY WAS TRYING TO LOCK IN THE AMOUNT SO WE DIDN'T HAVE UNKNOWN NUMBERS. 
          SO THAT WAS THE WHOLE REASON WE WENT TO THE HYBRID. 
          HYBRID, EXCUSE ME. 
          EXCUSE ME. 
          YES, YES MA'AM. 
          OKAY. 
          AND THE BRIDGE IS A TREMENDOUS BENEFIT. 
          WE HAD A, UH, RETIREMENT LUNCHEON YESTERDAY WHERE WE HAD, YOU KNOW, A LOT OF OUR RETIREES IN THE BUILDING. 
          UH, THEY'RE VERY PLEASED WITH THEIR RETIREMENT AND UH, I KNOW THAT WAS A LOT OF EXPENSE AND CONSIDERATION, UH, FROM THE CITY AT THE TIME, WORK STATIC TO HAVE THAT BENEFIT. 
          WE'RE VERY GRATEFUL FOR THAT. 
          UH, AND I ALSO APPRECIATE YOU ALL EVEN CONSIDERING THIS WITH THE NUMBER THAT CAME BACK. 
          I THINK WE WERE ALL SURPRISED BY THAT. 
          AND JAY, I APPRECIATE YOUR WORK TO PUT ALL THIS TOGETHER AND EXPLAIN IT SO THAT I CAN HALFWAY UNDERSTAND IT. 
          . 
          SO AS IT RELATES TO RECRUITING, UM, CAN YOU PUT TOGETHER SOME OF THE THINGS AND YOU MENTIONED TAKE HOME AND YOU MENTIONED, UM, UM, SOME SHIFT IF AND THAT TYPE. 
          CAN YOU PUT TOGETHER A LIST OF THOSE THINGS, UH, AND POTENTIAL COST SO WE CAN MAKE SURE THAT WE UNDERSTAND WHAT THAT IS? BECAUSE I THINK ARE WE SECOND HIGHEST PAID IN THE STATE? UM, IT, IT'S A LITTLE COMPLICATED, UH, BECAUSE IF YOU JUST LOOK AT THE ENTRY LEVEL, UH, OFFICER, IT'S CLASSIFIED DIFFERENTLY IN SOME AGENCIES AND IN A MATTER OF A FEW MONTHS THAN THEY CAN PASS US WHEN THEY COMPLETE TRAINING. 
          OKAY. 
          SO IT, IT'S A LITTLE BIT COMPLICATED TO LOOK EXACTLY WHERE WE ARE, BUT WE'RE COMPETITIVE. 
          THERE'S NO QUESTION THAT WE ARE COMPETITIVE. 
          UM, WITH THESE THINGS THOUGH THAT YOU MENTIONED, CAN YOU BRING THOSE BACK TO HELP US BE A LITTLE MORE COMPETITIVE? UH, IF YOU'LL ABSOLUTELY, I'D BE HAPPY TO. 
          WHAT ABOUT IN RETENTION? SO FROM A RETENTION STANDPOINT, THE ONLY CONCERN THAT I SEE IF WE DO NOT ADOPT THIS IS SOMEONE WHO MAYBE DOESN'T GET PROMOTED AT A CERTAIN STAGE OF THEIR CAREER. 
          AND THERE IS ANOTHER TCRS AGENCY WHO, UM, HAS ADOPTED THE HAZARDOUS DUTY SUPPLEMENT AND THEY COULD SEE MORE IN RETIREMENT BECAUSE THEIR YEARS OF SERVICE WOULD JUST CONTINUE IN THAT PLAN. 
          THAT WOULD BE THE ONLY CONCERN THAT I WOULD HAVE. 
          OUTSIDE OF THAT, UM, FROM A RETENTION STANDPOINT, WE KNOW THAT IF WE CAN KEEP OUR FOLKS HERE BEYOND FIVE YEARS AND ONCE THEY GET TO 10 YEARS, THEY'RE, THEY'RE GONNA RETIRE FROM HERE. 
          WE'VE HAD SOME EXCELLENT PEOPLE THAT HAVE COME FROM OTHER NEW YORK CITY OR CALIFORNIA OR WHATEVER MADE EXCELLENT OFFICERS FOR US. 
          WE JUST, UH, AWARDED ONE, YOU KNOW, LAST FEW MONTHS FOR THAT. 
          UM, HOW ABOUT THE RECRUITMENT IN THAT AREA, ESPECIALLY COMING FROM STATES WHERE MAYBE THEY'RE NOT QUITE TO THE RETIREMENT, BUT THAT WILL TRANSFER, BUT THE RETIREMENT BENEFITS AND PROMISE IS MUCH BETTER THAN WHAT THEY WOULD RECEIVE HERE. 
          DO YOU THINK THAT HELPS WITH THAT? WELL, JAY, CORRECT ME MILITARY, RIGHT? CORRECT ME IF I'M WRONG, BUT WHAT WE SEE WITH SOME OF OUR MILITARY FOLKS WHO HAVE HAD SUBSTANTIAL CAREERS MM-HMM . 
          UH, EVEN REACHED RETIREMENT IN MILITARY OR HAVE REACHED RETIREMENT AND OTHER POLICE DEPARTMENTS THAT HAVE COME TO US, UH, THEY'RE NOT GONNA GET THE FULL EFFECT OF OUR TCRS RETIREMENT BECAUSE THEY JUST WON'T HAVE THE TIME TO GET THE NUMBER OF YEARS IN TO QUALIFY FOR THE FULL BENEFIT. 
          IF THEY HAVE REACHED RETIREMENT ELSEWHERE, THEY'RE STILL ALLOWED TO GET THEIR RETIREMENT ELSEWHERE. 
          THEY DON'T FOREGO THAT CORRECT OPTION. 
          OKAY. 
          BUT IF THEY'RE IN STATE AND SAY THEY'RE 15 OR 18 YEARS OF DUTY, IF THEY WERE IN AN AGENCY THAT IS WITH TCRS, THEN THEIR TIME WOULD STILL COUNT AND THEY COULD CONTINUE TO, THAT INCLUDES THE TBI AND, AND UH, DOES IT INCLUDE SHERIFF'S DEPARTMENTS AND POLICE DEPARTMENTS ACROSS THE STATE OR IF THEY'RE A-T-C-R-S AGENCY YES, BUT FROM ANOTHER STATE THEY MAY NOT, THIS WON'T CORRECT. 
          THEY'D HAVE TO START FROM SCRATCH FOR US TO GET VESTED IN THE PROBLEM, RIGHT? THAT'S CORRECT. 
          SOMETHING ONE, IF I CAN LET, LEMME MAKE ONE CLARIFICATION ON SOMETHING THAT HE SAID. 
          LET HIM COME UP. 
          IF IT'S GONE TALK, IF SOMEONE WERE TO LEAVE US AND THEY GO TO A COMMUNITY THAT HAS ADOPTED THE HAZARDOUS DUTY SUPPLEMENTAL BENEFIT, THEY DON'T CARRY WITH THEM ANY YEARS TOWARD THAT BENEFIT. 
          THEY BEGIN ACCRUING YEARS TOWARD THAT BENEFIT WHEN 
          [01:40:01]
THEY GET THERE. 
          THAT'S SO LIKE AT THE LAST MINUTE YOU COME TO AN AGENCY THAT GIVES YOU, YOU DON'T SUDDENLY GET THE FULL BENEFIT OF YOUR WHOLE CAREER IN THAT IT'S ONLY WHAT YOU ACCRUE WHEN YOU'RE THERE. 
          RIGHT THERE. 
          NOW IF THEY GO FROM ONE THAT HAS IT TO ANOTHER ONE THAT HAS IT, THEY CARRY ALL OF IT. 
          RIGHT. 
          THAT WAS MY POINT. 
          I  BE THE BEST. 
          HAVING TO FIGURE OUT SOMEBODY'S PENSION WOULD THAT DID A LOT OF THAT AROUND AND THEN IT STARTED HERE AND THERE. 
          SO ANYTHING ELSE? DID YOU HAVE ANYTHING ELSE? NO, I I JUST ECHO WHAT, UH, CHIEF COLVIN SAID, EVEN WE ARE EVEN BRINGING LATERAL HIRES WITH EXPERIENCE, UM, HERE WHO MAY NOT GET THE FULL BRIDGE IF THEY DIDN'T COME FROM A SYSTEM WITH THE FULL BRIDGE. 
          BUT AGAIN, IF THEY DO THAT AND THEY SERVE 10 YEARS HERE, EVEN IF WE ADOPT THE ENHANCE, THEY'RE ONLY GONNA GET 10 YEARS OF THAT ENHANCED ASSUMING THEY COME FROM A-T-C-R-S AGENCY. 
          SO IT IS GONNA BE A REDUCED BENEFIT. 
          BUT, UM, WHAT WE'RE SEEING IN OUR RECRUITMENT IS, IS VERY SIMILAR TO WHAT TO WHAT THEY'RE SEEING YOU GET, YOU GET YOUNG FOLKS, UM, THEY'RE THINKING IMMEDIATE GRATIFICATION, UH, AND WE'RE NOT, WE'RE NOT SAYING WE DON'T WANT THIS BENEFIT. 
          DON'T, DON'T TAKE IT THAT WAY, BUT IT'S CERTAINLY NOT A HILL WE'RE WILLING TO DIE ON BECAUSE I DON'T KNOW THAT THE COST BENEFIT PERSONALLY IS THERE. 
          UM, AND, AND AGAIN, THOSE LATERAL HIRES WHO DON'T HAVE THE TIME LEFT, YES IT WOULD BENEFIT THEM FOR THE TIME THAT THEY HAD HERE, BUT IT'S NOT SOMETHING THAT THEY TALK ABOUT WHEN THEY SET THE RECRUIT AT THE INTERVIEW TABLE. 
          UM, MOST GENERALLY, YOU KNOW, I'D BE VERY INTERESTED IN RECRUITS THAT WE'VE HAD COME FROM DEPARTMENTS THAT WERE UNIONIZED VERSUS THOSE THAT WEREN'T BECAUSE THOSE THAT ARE UNIONIZED, THE BENEFITS WERE SO ON PAPER LOCKED IN, YOU KNOW, AND WHETHER THE MONEY'S THERE WHEN IT'S TIME TO PAY IT OR NOT, YOU DON'T KNOW. 
          BUT I, YOU KNOW, I WONDER IF MAYBE THEY DON'T THINK ABOUT IT LESS BECAUSE THEY JUST ASSUME THE UNION'S HANDLING ALL THAT FOR 'EM. 
          WE MAKE THAT CLEAR. 
          'CAUSE I I CAME FROM THAT WORLD 20 YEARS AND, AND IT'S A VERY STRONG UNION. 
          SO YEAH, THAT'S SOMETHING THAT WE DISCUSS AT THE TABLE FROM THE BEGINNING AND WE LAY OUT ALL THE RETIREMENT BENEFITS. 
          IF THEY'RE OLDER, OF COURSE WE CAN'T ASK THAT. 
          WE DON'T KNOW HOW OLD THEY'RE NECESSARILY, LIKE THEY MIGHT PUT THEIR YEAR OF HIGH SCHOOL GRADUATION. 
          YOU CAN DO THE MATH ON THEIR APPLICATION. 
          BUT, UM, IF WE ASSUME THAT THEY'RE OLDER, UH, WE, WE CLARIFY WHEN THEY HAVE TO RETIRE MANDATORY RETIREMENT, WHAT THE BENEFIT WILL BE WILL BE REDUCED BENEFITS. 
          SO WE GO ALL THROUGH THAT BEFORE THEY EVEN FULLY ACCEPT THE POSITION. 
          JAY, I ASKED YOU WAS THE CORE REASON STAFF DIDN'T RECOMMEND THIS 'CAUSE THAT UNKNOWN DOLLAR AMOUNT THAT IS THERE ANY OTHER THINGS THAT YOU WANNA SHARE WITH Y'ALL'S DECISION MAKING ON WHY YOU DON'T RECOMMEND IT? IT ELIMINATES THE OVERFUNDING, IT ELIMINATES THAT CUSHION, THAT PADDING THAT WE HAVE. 
          THAT'S, THAT, THAT FOR MANAGERS, THAT HELPS ME SLEEP AT NIGHT. 
          OKAY. 
          I FEEL LIKE WE'RE PROTECTED WITH THAT. 
          OVERFUNDING DO YOU HAVE ENOUGH TO ADD FROM ACROSS THE STATE AT THIS POINT TO GIVE US ANY IDEA OF WHO'S SIGNING ON TO THIS AND WHO'S NOT? YES. 
          I MEAN, IS IT FORMALIZED YET? AND I SPOKE, I SPOKE WITH TCRS STAFF ONLY MONTGOMERY COUNTY HAS ADOPTED IT. 
          EVERYONE ELSE IS IN THE SAME POSITION. 
          IT CLARKSVILLE, RIGHT? CLARKVILLE, OKAY. 
          UH, EVERYONE ELSE IS IN THE SAME POSITION, BUDGET, SCHEDULE WISE AS WE ARE. 
          SO THERE'RE BUT THERE'S ONLY 22 WHO HAVE DONE THE ACTUARIAL REPORT. 
          SO NO MORE THAN 22 COULD ADOPT IT FOR FISCAL YEAR 26, 22. 
          SO WE COULD STILL LOOK AT THIS NEXT YEAR. 
          YES. 
          AND SEE WHO ELSE ADOPTS IT. 
          YES MA'AM. 
          TO SEE IF WE WANTED TO BRING IT ON AFTER SOME OTHERS KINDA BECOME THE GUINEA PIGS. 
          YES, WE COULD. 
          OKAY. 
          BUT THERE ARE 22 THAT ARE CONSIDERING IT. 
          THERE ARE 22 WHO ASKED FOR, THAT'S ALL I CAN TELL YOU IS THEY, THEY ASKED FOR THE REPORT THEY CONSIDERING 'CAUSE THEY WANTED THE RAPPORT. 
          SO YEAH. 
          I JUST NEED ONE MORE TIME TO THINK ABOUT THIS. 
          CURRENTLY, THE BUDGET, I ALWAYS WANNA BE SUPPORTIVE, BUT MM-HMM . 
          THERE'S THE LIMIT. 
          PERHAPS CURRENTLY THE BUDGET IS BEING DEVELOPED WITHOUT THIS IN IT, YOU KNOW, IT'S KIND OF STATUS QUO. 
          UH, THERE WILL COME A POINT AT WHICH WE WOULD SAY, OKAY, UH, IF YOU'RE GONNA MAKE A DECISION ON THIS, DO IT NEXT YEAR. 
          UH, DON'T, DON'T DO IT THIS YEAR. 
          SO, UH, WELL WOULD THAT POINT BE ? I LIKE TO SAY TODAY,  JUST, I LIKE SPECIFICS. 
          UM, IF WE WAIT UNTIL OUR NEXT BRIEFING, UM, AND, AND JUST RE YOU KNOW, COULD, COULD I GIVE YOU ENOUGH TIME TO THINK IT OVER? WE HAVE TWO WEEKS. 
          I CAN, WE'RE A LITTLE LEAN IN RESOURCES FOR BUDGET SEASON RIGHT NOW, SO I'M, I'M HESITANT TO SAY WE SHOULD WAIT LATER. 
          IT WOULD HELP STAFF A LOT IF WE COULD UNDERSTAND YOUR, BUT YOU'RE OKAY WITH TWO WEEKS? YES MA'AM. 
          OKAY. 
          OKAY. 
          OKAY. 
          AND THEN MAYBE BEYOND THAT YOU JUST SAY, WELL, OKAY, FOR 27 WE BE IN TOUCH WITH THESE OTHER PLACES IN THE 
          [01:45:01]
NEXT TWO WEEKS TO SEE WELL, THEY'RE NOT GONNA KNOW TRENDS OR DEVELOPING. 
          THEY'RE, THEY'RE, THEY'RE IN THE SAME BOAT WE'RE IN, SO I'M NOT GONNA HAVE ANYTHING DEFINITIVE UNTIL OKAY. 
          MAY. 
          YEAH. 
          JAY, THANK YOU FOR ALL THE RESEARCH AND TIME. 
          I GUESS YOU COULDN DO A CHANGEOVER. 
          THANK YOU ALL. 
          JULY, JUNE AND AUGUST. 
          THE DESCRIPTION, THE EMAIL WAS VERY HELPFUL THAT YOU SENT AND I KNOW YOU SPENT A LOT OF TIME ON THAT, SO THANK YOU. 
          AND THIS, THIS, THIS TOO . 
          I TOOK SOME RIGHT THERE. 
          THOSE CON AND THINGS AREN'T EASY. 
          OKAY. 
          THANK YOU VERY MUCH COMMISSIONERS FOR THAT DISCUSSION. 
          UH, ONE MORE ITEM AND WE CAN MAKE IT KIND OF BRIEF. 
          KAREN, UM, MATTER UP. 
          WE'RE GONNA TALK BRIEFLY WITH YOU ABOUT, AS WE BUILD THE BUDGET, UH, SHOULD WE CONSIDER IT A RACKET FACILITY TO BE IN AN ENTERPRISE FUND? UH, AND THERE ARE SOME PROS AND CONS TO DOING THAT OR SHOULD WE JUST MAKE IT A FACILITY IN THE GENERAL FUND? KAREN WILL WALK YOU THROUGH WHAT THOSE MIGHT BE AND I'M GONNA GIVE YOU THAT, KAREN. 
          OKAY. 
          ALL RIGHT. 
          UM, FOR THE SAKE OF TIME, I'LL TRY TO BE, UM, THOROUGH BUT BRIEF, UM, I'VE COME UP WITH, I'M GOING TO THE RESTROOM. 
          I'LL BE RIGHT BACK. 
          OKAY. 
          KEEP, KEEP TALKING, KEEP TALKING. 
          I'LL BE RIGHT BACK. 
          OKAY. 
          THE DECISION, UM, THE DECISION ON WHETHER TO CREATE AN ENTERPRISE FUND OR USE A GENERAL FUND ACCOUNT FOR RECORD FACILITY WILL HAVE AN IMPACT. 
          UM, BOTH, UM, FIN ON FINANCIAL REPORTING, BUDGETING AND DECISION MAKING. 
          SO I WANTED YOU TO UNDERSTAND THE FUND A LITTLE. 
          I'M JUST THINKING ANN'S GONNA WANT TO HEAR THIS, ISN'T SHE OKAY. 
          I MEAN, SURE. 
          I JUST DON'T WANNA PICK THE BALL. 
          I JUST DON'T WANNA REVISIT I I UNDERSTOOD . 
          OKAY. 
          BECAUSE SHE'LL WANT TO HEAR IT. 
          SURE. 
          SO WE'LL, WE'LL PAUSE FOR A MINUTE. 
          I'M GONNA GET THEM TO TURN THE, TURN THE MIC DOWN REAL QUICK. 
          SO WE START WITH FINANCE AND WE END WITH FINANCE. 
           WAITED FOR YOU. 
          I DON'T KNOW WHY THIS IS SO OUTTA MY LEAGUE. 
          JUST GO RIGHT AHEAD. 
           WELL, UM, I'LL STATE IT AGAIN. 
          THE DECISION ON WHETHER TO CREATE AN UM, ENTERPRISE FUND OR GENERAL FUND TO ACCOUNT FOR RECORD FACILITY WILL HAVE AN IMPACT ON FINANCIAL REPORTING BUDGET AND DECISION MAKING. 
          SO WE'LL START BY UNDERSTANDING THE TWO FUNDS. 
          THE GENERAL FUND IS THE PRIMARY FUND, UM, FOR THE CITY. 
          UM, IT ACCOUNTS FOR MOST OF THE CITY'S REVENUE, SALES TAX, PROPERTY TAX AND OTHER GENERAL REVENUES AND EXPENDITURES FROM THE GENERAL FUND ARE TYPICALLY FOR SERVICES THAT BENEFIT THE ENTIRE COMMUNITY AND ARE NOT NECESSARILY SELF-SUPPORTING ENTERPRISE FUND. 
          THIS TYPE OF PROPRIETARY FUND IS USED FOR UM, 
          [01:50:01]
TO ACCOUNT FOR OPERATIONS THAT ARE FINANCED AND OPERATE OPERATED LIKE A BUSINESS. 
          THE INTENT IS THE COST OF GOODS OR SERVICES TO THE GENERAL PUBLIC ON A CONTINUING BASIS ARE RECOVERED PRIMARILY THROUGH USER FEED OR CHARGES. 
          OKAY. 
          LET'S TALK ABOUT ENTERPRISE PROS AND CONS. 
          WE'LL START WITH PROS WITH THE ENTERPRISE FUND PROS. 
          SELF-SUSTAINING. 
          THE MAIN BENEFIT IS THAT THE ENTERPRISE FUND CAN OPERATE RELYING ON GENERAL. 
          UM, THE MAIN BENEFIT IS THAT THE ENTERPRISE CAN OPERATE WITHOUT RELYING ON GENERAL TAX REVENUE. 
          IT CAN BE FUNDED BY FEES OR CHARGES DIRECTLY RELATED TO THOSE SERVICES PROVIDED, WHICH MEANS IT'S FINANCIALLY INDEPENDENT. 
          AS A RESULT, THERE WILL BE LESS PRESSURE ON PROPERTY TAX OR SALES TAXES SUPPORT THE FACILITY. 
          THIS CAN BE ADVANTAGEOUS FOR TAXPAYERS BECAUSE THE COST BURDEN IS SHIFTED TO UM, IT SHIFTED FROM THE GENERAL FUND TAX BASE TO THOSE WHO WILL USE THE FACILITY AND CAN BE SEEN MORE AS AN EQUITABLE APPROACH. 
          CLEAR ACCOUNTABILITY. 
          SINCE ENTERPRISE FUND IS USED FOR SPECIFIC BUSINESS LIKE ACTIVITIES, IT MAKES IT EASIER TO TRACK ALL OF THE UM, PERFORMANCE OF THAT FACILITY. 
          OPERATING REVENUES AND EXPENSES WILL BE SEPARATE FROM ALL OTHER GOVERNMENTAL ACTIVITIES. 
          USERS DIRECTLY CONTRIBUTE TO THE COST OF THE SERVICES THEY RECEIVE, WHICH FOSTERS A SENSE OF ACCOUNTABILITY. 
          THIRDLY, LONG TERM SUSTAINABILITY BY CHARGING USERS FOR SERVICES THE FUND INCUR, OH I'M SORRY, SKIP TRANSPARENCY. 
          EXCUSE ME. 
          TRANSPARENCY. 
          USE THEM. 
          AN INTERNAL ENTERPRISE FUND ENHANCES SUCCESSFUL TRANSPARENCY BY SHOWING WHETHER RACKET FACILITY IS FINANCIALLY VIABLE OR NOT. 
          THE CITY WILL BE ABLE TO DISTINGUISH BETWEEN OPERATIONAL COSTS AND PUBLIC SERVICE FUNDING, WHICH MAKES IT EASIER TO ACCESS THE NEED FOR FUTURE CONTRIBUTIONS OR SUBSIDIES. 
          ALL DIRECT AND INDIRECT COSTS ASSOCIATED WITH THE FACILITY, INCLUDING UTILITIES, MAINTENANCE, PERSONNEL DEPRECIATION ARE ACCOUNTED FOR WITHIN THE FUND, PROVIDING A MORE ACCURATE PICTURE OF TOTAL COSTS OF THE OPERATION. 
          NEXT WOULD BE LONG-TERM SUSTAINABILITY. 
          BY CHARGING USERS FOR SERVICES, THE FUND ENCOURAGES THE FACILITY TO BE SELF-SUSTAINING OVER TIME. 
          THE CITY MAY ALSO BUILD IN MAINTENANCE FEES, WHICH WILL ALLOW THE CITY TO FUND FOR FUTURE IMPROVEMENTS AND MAINTENANCE DIRECTLY FROM THE REVENUE GENERATED. 
          NEXT IS CAPITAL IMPROVEMENT. 
          CAPITAL IMPROVEMENTS CAN BE FUNDED THROUGH USER FEES RATHER THAN GENERAL FUND REVENUE OR DEBT FINANCING. 
          LET'S LOOK AT THE CONS. 
          THE CONS TO AN ENTERPRISE FUND IS INCREASED COMPLEXITY. 
          THE ENTERPRISE FUND IS A MORE DETAILED TYPE OF FINANCIAL REPORTING AND IT WOULD REQUIRE THE FINANCE STAFF TO ENSURE THAT THE CITY IS FOLLOWING ALL GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. 
          AND THE FINANCIAL STATEMENTS WILL NEED TO BE PREPARED SEPARATELY FROM THOSE OF THE GENERAL FUNDS. 
          AND THEN ANOTHER CON NUMBER TWO, NEED FOR FEE STRUCTURING. 
          THE FACILITY MUST BE ABLE TO GENERATE REVENUE TO COVER BOTH ITS OPERATING COSTS, DEPRECIATION AND ANY POTENTIAL DEBT PAYMENT. 
          THIS COULD BE CHALLENGING IF THE DEMAND IS LOWER THAN EXPECTED AND THE INITIAL INVESTMENT SIGNIFICANT UPFRONT CAPITAL COSTS WILL BE NEEDED AND THE FACILITY MAY NOT GENERATE SUFFICIENT REVENUE TO COVER ALL COSTS IN THE INITIAL YEARS. 
          THIS WOULD REQUIRE SUBSIDIES OR LOANS FROM THE GENERAL FUND. 
          AND FOURTH MARKET RISK. 
          IF THE FACILITY DOES NOT MEET ITS REVENUE PROJECTIONS, IT COULD BECOME A DRAIN ON THE FUND REQUIRING ADDITIONAL SUBSIDIES FROM THE GENERAL FUND UNDERMINING THE INITIAL IDEA OF SELF SUSTAINABILITY. 
          ALRIGHT, THE GENERAL FUND PROS AND CONS. 
          AS YOU KNOW, THE GENERAL FUND IS THE MAIN OPERATING FUND OF GOVERNMENT WHERE REVENUES LIKE TAXES, SALES TAX AND GRANTS ARE DEPOSITED. 
          EXPENDITURES FOR PUBLIC SERVICES ARE MADE FROM THE GENERAL FUND. 
          THE PROS ARE FLEXIBILITY. 
          THE GENERAL FUND IS A MORE FLEXIBLE UM, WAY OF FUNDING FOR A VARIETY OF SERVICES. 
          IF THE RACKET FACILITY HAS A LOWER THAN EXPECTED REVENUE GENERATION, IT CAN BE SORT SUPPORTED BY TAX REVENUE, MAKING IT LESS DEPENDENT ON USER FEES. 
          SECONDLY, NO PRESSURE FOR PROFIT IF YOU USE THE GENERAL 
          [01:55:01]
FUND OPTION. 
          DOESN'T NEED TO COVER ALL THE OPERATING COSTS THROUGH NEV REVENUES. 
          SO THERE IS LESS PRESSURE TO TURN THE RACKET FACILITY AND TO PROFIT GENERATING ENTERPRISE. 
          AND THIRDLY, IT'S A SIMPLER FORM OF ACCOUNTING AND THIS COULD REDUCE THE ADMINISTRATIVE BURDEN. 
          LET'S LOOK AT THE CONS FOR THE USE OF GENERAL FUNDS DEPENDENCY ON TAX REVENUES. 
          FUNDING THE RACKET FACILITY THROUGH GENERAL FUND MEANS RELYING ON TAX REVENUE, WHICH COULD FLUCTUATE WITH ECONOMIC CYCLES. 
          RECESSIONS COULD REDUCE SALES OR PROPERTY TAX REVENUES. 
          THIS COULD CREATE FUNDING UNCERTAINTY. 
          SECONDLY, BUDGETARY STRAIN SINCE THE GENERAL FUND ALSO SUPPORTS MANY ESSENTIAL SERVICES SUCH AS POLICE, FIRE PARKS, ET CETERA. 
          ALLOCATING FUNDS TO THE RACKET FACILITY MIGHT REQUIRE CUTS IN OTHER AREAS OR RESULT IN A TAX BURDEN. 
          THIRDLY, LACK OF FINANCIAL TRANSPARENCY. 
          USING THE GENERAL FUND TO COVER THE COST OF A RACKET FACILITY MAY MAKE IT MORE DIFFICULT TO ASSESS THE TRUE COST OF OPERATING THE FACILITY AND WHETHER IT IS OPERATING EFFICIENTLY. 
          THE CROSS-SUBSIDIZATION SUB SUBSIDIZATION, SORRY I CAN'T SAY THAT WORD WITH OTHER PUBLIC SERVICES, CAN BLUR THE FINANCIAL PICTURE. 
          AND THEN FOURTH, AS A CON FOR THE GENERAL FUND USAGE, NO INCENTIVE TO BE SELF-SUSTAINING WITHOUT THE PRESSURE TO GENERATE REVENUE. 
          THE FACILITY MAY NOT HAVE STRONG FINANCIAL DISCIPLINE OR INCENTIVE TO COVER ITS OWN COSTS AND THIS COULD LEAD TO INEFFICIENCIES OR OVERSPENDING. 
          A WONDERFUL JOB YOU DID. 
          I UNDERSTOOD ALL THAT. 
          . 
          WELL I'M GLAD YOU SHOULD TEACH ACCOUNTING. 
          I FEEL LIKE I'M TALKING VERY FAST NOW. 
          YOU DID A GREAT JOB. 
          A FEW DECISION FACTORS, FINANCIAL VIABILITY, THINGS TO CONSIDER. 
          DOES THE RACKET FACILITY HAVE THE POTENTIAL TO GENERATE ENOUGH REVENUE TO COVER ITS COSTS? IF SO, AN ENTERPRISE FUND MAY BE APPROPRIATE. 
          IF NOT, THE GENERAL FUND MIGHT BE A BETTER CHOICE. 
          LONGER TERM GOALS, IF YOU WANT THE RACK FACILITY TO BECOME SELF-SUSTAINING AND LONG TERM AN ENTERPRISE FUND MIGHT BE THE MORE FORWARD THINKING CHOICE. 
          AND THEN THIRDLY, POLITICAL AND COMMUNITY CONSIDERATION. 
          YOU WOULD LIKE TO CONSIDER THE COMMUNITY'S ATTITUDE TOWARD FUNDING SUCH A FACILITY THROUGH FEES VERSUS TAXES. 
          IN SOME CASES THERE MAY BE RESISTANCE TO USING TAX REVENUE OR A RECREATIONAL FACILITY IF SOME PERCEIVE IT AS A LUXURY SERVICE. 
          SO IN SUMMARY, IF YOU WANT THE MODEL THAT RELIES MORE ON USER FEES AND ISOLATES THE FINANCIAL PERFORMANCE OF THE RACK FACILITY AND ENTERPRISE WOULD BE THE BEST CHOICE AND BEST PRACTICES. 
          HOWEVER, IF YOU KEEP IT MORE ACCESSIBLE AND RELY ON TAX REVENUES, THE GENERAL FUND MAY BE MORE APPROPRIATE. 
          HERE'S SOME RECOMMENDATIONS. 
          GIVEN THE NATURE OF A RECREATIONAL FACILITY THAT DIRECTLY SERVES A SPECIFIC USER GROUP, AN ENTERPRISE FUND IS GENERALLY THE MORE APPROPRIATE AND RECOMMENDED STRUCTURE FOR A RACK FACILITY. 
          HERE'S WHY. 
          THE USER PRINT, THE USER PAY PRINCIPLE RACKET, SPORTS OR DISCRETIONARY ACTIVITY. 
          AND THE USER PAY PRINCIPLE INHERIT IN AN ENTERPRISE FUND ENSURES THAT THOSE WHO DIRECTLY BENEFIT FROM THE FACILITY PRIMARILY BEAR THE COST. 
          SECONDLY, FINANCIAL SUSTAINABILITY. 
          IT PROMOTES A FOCUS ON GENERATING SUFFICIENT REVENUE TO COVER OPERATING AND CAPITAL EXPENSES LEADING TO A MORE SUSTAINABLE LONG-TERM FINANCIAL MODEL. 
          AND THIRDLY, ACCOUNTABILITY AND TRANSPARENCY. 
          IT PROVIDES A CLEAR PICTURE OF THE FACILITY'S FINANCIAL PERFORMANCE ALLOWING FOR BETTER MANAGEMENT DECISIONS AND PUBLIC ACCOUNTABILITY. 
          AND I JUST WANTED TO LEAVE YOU WITH ONE MORE BIT OF INFORMATION AND BASED ON WHAT I WAS HEARING EARLIER TODAY, IT SOUNDS LIKE EVERYONE IS IN AGREEMENT THAT THEY WANT THIS FACILITY'S USER FEES AND CHARGES TO COVER THE COST OF. 
          AND IF SO, THEN GASB REQUIRES THAT IT BE AN ENTERPRISE FUND. 
          IF THERE IS A POLICY IN PLACE THAT STATES THAT IT ALSO REQUIRES THIS TO BE AN ENTERPRISE FUND. 
          IF YOU CHOOSE TO USE A DEBT WITH THE REVENUE FROM THE FEES RATHER THAN A GO BOND, IT WOULD BE A TAX REVENUE BOND, THEN IT'S REQUIRED TO BE AN ENTERPRISE FUND. 
          AND LASTLY, IF THERE ARE ANY LAWS OR REGULATIONS THAT FEES AND CHARGES BE SET TO COVER COSTS INCLUDING CAPITAL COST DEPRECIATION OR DEBT. 
          AND FROM WHAT KRISTEN 
          [02:00:01]
HAS TOLD ME, THERE ARE CURRENTLY NO LAWS THAT REQUIRE THAT ONLY FOR THE WATER AND SEWER FUND. 
          SO, SO ONE THING THAT BEFORE WE START INTO A RACKET FACILITY DISCUSSION, AS I'M HEARING THIS, IT MAKES ME WONDER SHOULD WE BE THINKING ALONG THESE LINES FOR RAVENSWOOD MANSION AND COOL SPRINGS HOUSE IN AN ENTERPRISE FUND AND WHY WOULD WE HAVE THIS IN AN ENTERPRISE FUND BUT NOT RAVENSWOOD AND COOL SPRINGS HOUSE? OR DO WE CONSIDER ENTERPRISE FOR BOTH OF 'EM? 'CAUSE THEY SEEM TO BE FAIRLY SIMILAR. 
          MAY I, MAY I JUMP IN BECAUSE THAT THAT'S ABSOLUTELY TO THE POINT. 
          WHAT KAREN DESCRIBED IS SORT OF THE THEORY LEVEL. 
          ALRIGHT. 
          SHE MENTIONED HOW THE, THE SELF SUSTAINABILITY OF AN ENTERPRISE FUND ECD IS AN ENTERPRISE FUND. 
          IT'S NOT SELF-SUSTAINING. 
          THE GENERAL FUND SUBSIDIZES ECD. 
          MM-HMM  THERE ARE EXCEPTIONS TO THIS OR HISTORIC HOMES ARE NOT AN ENTERPRISE FUND, BUT THEY ARE SELF-SUSTAINING. 
          UM, YOU CAN ACCOUNT FOR THOUGH IT'S NOT QUITE AS CLEAN AND MAYBE NOT QUITE AS TRANSPARENT, YOU CAN ACCOUNT FOR THE OPERATIONS OF A FACILITY JUST LIKE WE DO THE HISTORIC HOMES WITHIN THE GENERAL FUND, MAKE IT ITS OWN DEPARTMENT TYPE OF THING. 
          SO THERE ARE EXCEPTIONS TO ALL OF THIS. 
          I'M SORRY, DON'T WE TAKE, YOU SAY THE HISTORICAL HOMES ARE SELF-SUSTAINING, BUT DON'T WE TAKE MONEY OUTTA THE GENERAL FUND FOR ALL THE REPAIRS THAT AREN'T COVERED UNDER THE FEE? SO, SO WHAT WE DO IS WE TAKE MONEY FROM THE GENERAL FUND THAT IS WHAT WE CONSIDER EXCESS REVENUES FROM THE HISTORIC HOMES. 
          AND WE PUT THAT INTO THE, UH, FACILITIES MAINTENANCE FUND TO PAY FOR, FOR THE REPAIR AND REPLACEMENT OF. 
          BUT THAT ACCOUNTING'S NOT, YOU KNOW, ENTIRELY CLEAN. 
          IT BECOMES MUCH CLEANER IF YOU MAKE IT INTO AN ENTERPRISE FUND. 
          UM, BUT THERE ARE EXCEPTIONS TO ALL OF THESE RULES. 
          IT CAN GO EITHER WAY. 
          WE CAN PUT IT IN THE GENERAL FUND OR WE CAN MAKE IT AN ENTERPRISE FUND. 
          DEPENDS ON WHAT THE GOALS ARE. 
          AGAIN, ECD IS NOT SELF-SUSTAINING, UH, BUT IT'S AN ENTERPRISE FUND AND MY UNDERSTANDING IS THAT NEITHER ARE COLD SPRINGS HOUSE OR RAVENS ONE IS THAT, AM I INCORRECT? SO, AND MAYOR GORMAN AND I HAVE HAD THIS CONVERSATION OVER THE YEARS BECAUSE IT, IT, IT'S AN IMPORTANT CONSIDERATION ON, ON THE HOMES OF UH, ARE THEY SELF-SUSTAINING OR ARE THEY NOT? AND IS IT GOOD TO EVEN OPERATE THEM AS A UH, AN EVENT VENUE? WE HAVE COSTS THAT ARE ACCOUNTED FOR WITHIN THE HISTORIC HOMES WITHIN THEIR BUDGET THAT ARE EVENT RELATED, BUT THERE'S ALSO NON-EVENT RELATED COSTS THAT ARE THERE. 
          THEY'RE JUST A CARING COST OF US OWNING THE HOME. 
          IT'S A LOT OF THE REPAIR AND MAINTENANCE AND, AND UTILITIES AND SECURITY SYSTEM, FIRE ALARM, ALL THAT. 
          YOU'D HAVE TO HAVE ALL OF THAT. 
          WHETHER OR NOT YOU'RE RUNNING AS AN EVENT VENUE. 
          IF YOU TRY TO ACCOUNT FOR ALL OF THAT AND YOU PULL OUT THE, THE OWNERSHIP COSTS AND YOU JUST LOOK AT THE EVENT, THEN THE OPERATION OF THE HOMES MORE THAN PAYS FOR ITSELF AND IT PUTS ALMOST A HUNDRED THOUSAND DOLLARS BACK, UH, INTO THE GENERAL FUND. 
          AND WE, WE THINK PART OF THAT AT 45,000 OR SO PUT IT THE FACILITIES METHOD. 
          SO YES, IT'S SELF-SUSTAINING, BUT IF YOU WERE TO SAY, WELL ACTUALLY WE'D SELL OFF THE HISTORIC HOMES IF WE DIDN'T OPERATE 'EM AS EVENT VENUES, THEN YOU THROW ALL THAT IN THERE AND THEN KNOW THEY'RE LIKE BREAK EVEN. 
          SO IT'S A LITTLE COMPLICATED ON THE COST THAT YOU THROW INTO THAT FORMULA. 
          AND THAT'S WHERE I GUESS MAYBE IT GETS A LITTLE HARDER BECAUSE IT IS A GENERAL FUND DEPARTMENT AND NOT AN ENTERPRISE FUND, UH, TO TRACK KIND OF THE LONG TERM EFFECT OF THAT. 
          WHEREAS IF IT, IF WE'RE AN ENTERPRISE FUND IT WOULD BE MORE, YOU KNOW, TRANSPARENT. 
          IT TAKES SOME KIND OF EXTRA ACCOUNTING ON THE SIDE TO DO THAT. 
          AND WHAT YOU'RE SAYING IS THE SAME CONCEPT THAT APPLIES CURRENTLY TO OUR HISTORIC HOMES COULD ALSO APPLY TO AN INDOOR RACK FACILITY IF WE CHOOSE TO? YES, IT COULD. 
          IF, IF THE RACKET, UNLESS YOU HAVE A POLICY THAT SAYS THAT ALL FEES MUST COVER OR THE FEES MUST COVER ALL EXPENSES, THEN IF REQUIRED THAT'S A GA B REQUIREMENT. 
          THAT'S A GA B REQUIREMENT. 
          IF THE RACKET FACILITY WERE IN AN ENTERPRISE FUND AND THERE WERE EXCESS REVENUE, CAN IT ONLY GO BACK TO THE RACA FACILITY OR CAN IT GO TO OTHER THINGS IN THE CITY? THAT, I'M GETTING CLARIFICATION FROM THE COMPTROLLER'S OFFICE AND I HAVEN'T HEARD BACK FROM 'EM FROM WHAT I'VE READ, YES THAT CAN BE, BUT I THINK WITH MORE AND MORE UM, MUNICIPALITIES GOING TO THIS TYPE OF FACILITY, THEY MAY START TO HAVE MORE AND MORE UM, CONSTRAINTS AND CONTROLS AND LAWS WITHIN AN ENTERPRISE FUND WITHIN ENTERPRISE. 
          UNLESS IT STATE WELL WITHIN CITY THEN WHAT THEY'RE ALLOWED TO DO, WHETHER IT'S REQUIRED TO BE AN ENTERPRISE FUND OR NOT. 
          OKAY. 
          SO WE DON'T KNOW YET IF THERE'S EXCESS REVENUE, IF IT HAS TO STAY OR IF IT CAN GO TO TURF, OTHER FIELDS OR CURRENTLY I THINK IT CAN GO TO OTHER SERVICES NOT IN WATER AND SEWER, BUT I THINK THIS PARTICULAR FACILITY COULD, BUT I'M GETTING CLARIFICATION. 
          OKAY. 
          UM, WE KNOW THE CURRENT STATE LAW MIGHT BE CHANGED ABOUT PRI PUBLIC-PRIVATE PARTNERSHIPS. 
          SO IF THERE WAS TO BE AN OPPORTUNITY FOR A PUBLIC-PRIVATE PARTNERSHIP ON THIS FACILITY, AGAIN, IS THAT REQUIRED TO GO INTO AN ENTERPRISE FUND OR CAN IT STAY IN THE GENERAL FUND? I'LL HAVE TO GET CLARIFICATION ON THAT AS WELL SINCE THAT LAW IS NOT OUT THERE YET, THAT MAY REQUIRE SOME DISCUSSION WITH SEVERAL BASED ON THE LAW TODAY. 
          DO YOU KNOW? 
          [02:05:01]
WELL I KNOW THAT IF YOU'RE GOING TO LOOK AT TAKING DONATIONS AND CONTRIBUTIONS, IT'S BEST THAT IT BEST PRACTICE WOULD BE AN ENTERPRISE FUND. 
          BUT THAT'S A DIFFERENCE IN SPONSORSHIPS VERSUS DONATIONS OR DIFFERENT, THOSE ARE TWO DIFFERENT THINGS. 
          ALL OF IT. 
          SPONSORSHIP DONATIONS, SPONSORSHIP DONATIONS, ALL. 
          OKAY. 
          AND WHAT IS THE DEPRECIATION SCHEDULE IN AN ENTERPRISE FUND VERSUS GENERAL? THE GENERAL FUND? WELL THE DEPRECIATION FOR GENERAL FUND IS ON THE GOVERNMENT WIDE FINANCIAL STATEMENT. 
          SO I CAN'T DIRECT YOU TO THE PAGE NUMBER, BUT IF YOU LOOK AT THE TITLE OF THE PAGE ON THE GOVERNMENT WIDE, IT'S ALL GOVERNMENTAL ACTIVITIES THAT'S ROLLED UP TO THE GOVERNMENT. 
          SO YOU DON'T SEE IT ON THE GENERAL FUND FINANCIAL STATEMENT AS FAR AS WATER, SEWER AND ECD. 
          YOU SEE THE DEPRECIATION COST FOR THOSE SPECIFIC ENTERPRISE FUNDS. 
          AND IF THIS RACK FACILITY WITH AN ENTERPRISE FUND, THERE WOULD BE DEPRECIATION COSTS THAT WOULD SHOW IN THE FINANCIAL STATEMENTS. 
          AND DID YOU GIVE US AN IDEA BASED ON THE NUMBERS WE'VE BEEN LOOKING AT WHAT THAT POTENTIAL DEPRECIATION SCHEDULE COULD LOOK LIKE? JUST OFF THE TOP OF YOUR HEAD, I'M NOT ASKING. 
          OH GOSH. 
          ANYTHING SPECIFIC? OH GOSH, I WOULD HAVE NO IDEA WITHOUT, IS IT A 30 YEAR VESTING SCHEDULE OR 15 OR FIVE OR NOT WITHOUT ANY COST. 
          ONCE I GET SOME NUMBERS I COULD DEFINITELY DO THAT. 
          KAREN, DID WE RUN ANY NUMBERS FOR THE PROFORMA THAT WAS DONE BY THE AD HOC COMMITTEE? 'CAUSE I THINK THERE WAS AN ASSUMPTION ABOUT AMORTIZATION, THERE WAS DEPRECIATION UH, IN THERE AND I DON'T KNOW IF FINANCE ANY HAND IN THAT. 
          NO FINANCE HASN'T EVEN BEEN PROVIDED ANY OF THAT INFORMATION. 
          OKAY. 
          SO THIS IS BASICALLY YOU'RE SHOWING US THAT THERE ARE WILL BE TWO CHOICES. 
          YES MA'AM. 
          AND THE PROS AND CONS OF BOTH. 
          YES MA'AM. 
          AND YOU ARE CONFIRMING SOME THINGS WITH THE COMPTROLLER'S OFFICE? THAT'S CORRECT. 
          AND IF WE HAVE ANY QUESTIONS, SHOULD WE EMAIL 'EM TO YOU AND YES MA'AM. 
          THEN YOU CAN BY THE TIME WE TALK ABOUT THIS AGAIN, MAYBE YOU'LL HAVE THOSE ANSWERS? YES. 
          OKAY. 
          I DID GET A RESPONSE AND HE SAID THAT HE HAD TO REACH OUT TO LOCAL, UM, GOVERNMENT AUDIT DEPARTMENT FOR THOSE ANSWERS. 
          SO AGAIN, I THINK IT'S FAIRLY NEW. 
          UM, SO WE'LL SEE WHAT THEY SAY. 
          THERE'S NOTHING THAT I COULD FIND IN WRITING FROM THE STATE. 
          WOULD IT, WOULD IT HELP FOR YOU TO HAVE A COPY OF THIS CHANGE ACCOUNT? CORRECT. 
          THAT'S ALL THE SLIDES FROM TODAY WOULD BE GREAT. 
          OKAY. 
          THANK YOU. 
          OKAY, SO REALIZE WE WON'T GET AN ANSWER TODAY, BUT WE NEEDED TO KIND OF AT LEAST START THAT CONVERSATION. 
          YEAH. 
          YEAH. 
          IT'S GOOD TO KNOW INFORMATION AND OBVIOUSLY YOU'RE BUILDING THE BUDGET, UH, THAT THIS MATTERS TO US. 
          SO, UM, AT WHAT, AT WHAT TIME DO YOU NEED TO HAVE THE FUND SET UP IF IT IS A ENTERPRISE FUND AND WILL LIKE, UH, ENGINEERING COSTS AND, AND CONSTRUCTION COSTS AND ALL THAT STUFF BE IN THERE? YES. 
          AND THEN THERE WOULD BE THAT WOULD BE IDEAL. 
          YES. 
          , LIKE I CALL THE INFRASTRUCTURE COST FOR THE WATER AND SEWER BECAUSE OTHERWISE YOU WOULD LOSE THAT AS PART OF THE FINANCIAL PACKAGE AND THE LONG TERM SUSTAINABILITY OF IT. 
          BUT IF WE DO IT, WE CAN GO ON AND PUT IN THERE WHAT WE'VE ALREADY, THE A HUNDRED OR 200,000 THAT WE'VE ALREADY SPENT INTERCOMPANY IT. 
          YEAH. 
          ONE OF THE THINGS THAT UM, THAT, THAT I HEAR, UM, IS AS WE LOOK AT THIS AND WE GATHER MORE INFORMATION, IF THIS WAS WITHIN THE GENERAL FUND BUDGET, IT'D BE MORE COMPLICATED BECAUSE I MEAN, LET'S SAY THAT, UM, YOU KNOW, IT'S A GO OR NO GO OR WHATEVER, BUT IF IT'S IN A SEPARATE ENTERPRISE FUND, IT'S BY ITSELF AND DOESN'T IMPACT THE UH, THE GENERAL FUND AND IT'S MORE TRANSPARENT. 
          YOU SEE TOTAL REVENUES, TOTAL EXPENSES. 
          IS IT MORE DIFFICULT ON YOU THOUGH? UM, NO. 
          EITHER WAY IT'S MANAGEABLE. 
          OKAY. 
          WE'RE GONNA BE DIFFICULT NO MATTER WHAT. 
          ARE WE ? I WILL NEED ABOUT THREE MORE PEOPLE. 
           WELL WE'VE GIVEN YOU TWO ,  MOVING ON AFTER. 
          SO, UH, WE'LL WE'LL TOUCH BACK WITH YOU MAYBE AT THE NEXT BRIEFING JUST TO SEE IF YOU'RE AT A POINT WHERE YOU THINK YOU CAN MAKE THAT CALL AS WE, AGAIN, WE GOTTA PUT IT ALL TOGETHER. 
          UM, WE WON'T BE ABLE TO KNOW MORE TILL KAREN COMES BACK WITH INFORMATION THAT SHE'S SEEKING THE QUESTIONS THAT WE ASK TODAY. 
          RIGHT. 
          SO COULD WE WAIT TILL YOU HAVE YOUR INFORMATION THEN THINK ABOUT IT A LITTLE BIT? IS THAT ABSOLUTELY. 
          WE'LL, WE'LL, WE'LL MAKE IT HAPPEN AS QUICKLY AS WE CAN SEE HOW, AND I'LL LOOK AT SOME OF THE NUMBERS TO SEE WHAT I CAN RUN FOR DEPRECIATION AND OF COURSE IT DEPENDS ON THE LIFE EXPECTANCY OF SEVERAL, OF WHAT COMPONENTS OF MIDDLE THERE. 
          SO I'LL HAVE TO DO A LITTLE RESEARCH 'CAUSE I DON'T HAVE ANYTHING ON THE BOOKS AS FAR AS, UM, TENANT, SOME TENANT RELATED. 
          I WONDER IF BRIAN RICHTER MIGHT BE ABLE TO HELP YOU WITH THAT SINCE HE WORKS. 
          PARDON ME? I WONDER IF BRIAN RICHTER MIGHT BE ABLE TO HELP YOU WITH THAT SINCE HE WORKS WITH OTHER PEOPLE AROUND THE COUNTRY DOING SIMILAR WORK. 
          SURE. 
          SO MAYBE WORKS TALKING. 
          SURE. 
          AND THEN ALSO I'LL GET BACK TO YOU ON WHAT THE COMPTROLLER SAID. 
          WAS THERE ANYTHING ELSE BESIDES THOSE TWO THINGS? I DON'T THINK SO. 
          OKAY. 
          NO, JUST WANTED TO MAKE SURE THE, UM, IF WE HAD A POTENTIAL PRIVATE PARTNER, IF WE WOULD HAD TO, IF, IF IT WOULD BE MANDATORY TO GO INTO THAT AT THE EXCESS REVENUE 
          [02:10:01]
WHERE IT WOULD BE ALLOWED TO GO. 
          RIGHT. 
          COMMISSIONERS, I KNOW YOU'RE HAPPY THAT THAT'S ALL I HAVE FOR YOU . 
          THANK YOU VERY MUCH. 
          JAY, I FORGOT TO ASK YOU THIS MORNING. 
          WE DO GET, WE DO GET OVERTIME, DON'T WE? AND I MEANT TO, BUT UM, I HAVE AN UPDATE ON THE, UH, POTENTIAL VETERANS MEMORIAL. 
          WE HAVE AN UPDATE, JUST A QUICK LITTLE UPDATE ON THE VETERANS MEMORIAL. 
          UM, IF THAT'S OKAY, I'LL MAKE IT BRIEF. 
          BUT, UM, I SPOKE WITH UH, JIM LUNDQUIST, WHO'S THIS RESIDENT WHO BROUGHT THIS IDEA TO ME AND WAS ABLE TO THEN ME BRING IT TO STAFF. 
          SO THANK Y'ALL. 
          UM, I THINK THE COMMUNITY IS STARTING TO GET EXCITED ABOUT THIS, SO APPRECIATE THE INPUT AND EFFORT AND THE COMMITMENT TO DOING IT. 
          UM, WE SPOKE ABOUT JAY, YOUR IDEA ABOUT, UM, HAVING AN AD HOC COMMITTEE FOR IT AND HE THOUGHT THAT WAS A GREAT IDEA. 
          AND THEN THE NUMBER WE CAME UP WITH WAS THE SEVEN VOLUNTEERS FROM THE COMMUNITY, UM, STAFF AND THEN A COMMISSION LIAISON. 
          AND THE GOAL THAT, UM, THAT HE WANTED ME TO COMMUNICATE WITH YOU ALL WAS THAT A MORE, IT WOULD BE A MEMORIAL THAT WOULD INVITE PEOPLE IN AND CAUSE PEOPLE TO STAY AND REFLECT. 
          THAT WOULD BE THE THEME OF THE MEMORIAL. 
          UM, THERE ARE DIFFERENT ELEMENTS THAT COULD HAPPEN. 
          UM, OBVIOUSLY THAT'S UP FOR ALL SORTS OF DISCUSSION. 
          UM, THAT WOULD NEED TO PROBABLY TAKE PLACE IN THAT AD HOC COMMITTEE WITH STAFF. 
          UM, BUT PLACES FOR PERMANENT SEATING SO THAT PEOPLE COULD COME AND SIT AND TERRY AT ANY MOMENT. 
          UH, SPACE FOR TEMPORARY SEATING TO BE BROUGHT IN IF THAT WAS NEEDED FOR AN EVENT. 
          LIGHTING, UH, ELECTRICAL OUTLETS, CAMERAS FOR MONITORING FLAGPOLES AND SOME WAY TO HONOR THE INDIVIDUAL NAMES OF PEOPLE IN THE COMMUNITY. 
          THERE ARE LOTS OF DIFFERENT IDEAS OF HOW THAT CAN HAPPEN AND THERE ARE PEOPLE THAT HAVE EXPERIENCE WITH THAT. 
          BUT ALSO MAKING SURE WE LEAVE ROOM SO THAT IN THE NEXT 15 TO 20, 30 YEARS IF TECHNOLOGICALLY, IF THERE'S SOME ADVANCEMENTS THAT COME UP, THERE ARE CREATIVE WAYS THAT WE CAN'T EVEN CONCEIVE OF TO HONOR NAMES THAT WE LEAVE SPACE FOR THAT TO HAPPEN, THUS RUNNING ELECTRICITY AND THINGS LIKE THAT. 
          UM, ONE THING THAT MR. LONQUIST DID REQUEST IS THAT HE WOULD LOVE TO SEE THIS FACILITY AT THE LIBRARY, IN THE LIBRARY ROOMS. AND I TOLD HIM ABOUT THE DISCUSSIONS AND OUR LIMITATIONS TO THAT. 
          UM, BUT HE DID SAY THAT HE WOULD'VE  JUST A LITTLE BIT MORE RESEARCH, UM, TO UNDERSTAND WHAT THE LIMITATIONS WOULD BE FOR THAT SO THAT WE REALLY DO KNOW. 
          AND I SAID, WELL IT COULD TAKE YEARS TO DELAY THE PROCESS. 
          AND HE SAID, WELL, IT WOULD BE WORTH IT IF IT WAS THE RIGHT SPOT. 
          SO I JUST WANTED TO COME BACK TO THE COMMISSION AND SHARE THAT. 
          UM, I ALSO WAS IN COMMUNICATION WITH TOM FREEMAN AND HE AS YOU KNOW, IS A MEMBER, A RESIDENT OF BRENTWOOD AND A MEMBER OF HONOR OUR VETERANS AND HAS DONE A LOT WITH OUR CITY AND HE HAS PERSONAL EXPERIENCE WITH BUILDING MEMORIALS FOR DIFFERENT MUNICIPALITIES AROUND THE COUNTRY. 
          AND HE HAS PEOPLE THAT HE KNOWS IN BRENTWOOD THAT ALSO HAVE FIRSTHAND EXPERIENCE. 
          SO I THINK WE'RE VERY EQUIPPED WITHIN THE CITY TO HAVE PEOPLE WHO HAVE EXPERTISE TO COME AND SHARE THAT WITH US AND HELP US MAKE THE DECISION TO MOVE FORWARD. 
          REAL QUICK ON SOMETHING YOU BROUGHT UP ABOUT THE NAMES, I THINK AT SOME POINT WE WOULD HAVE TO DEFINE A PARAMETER OF MM-HMM . 
          THEY HAVE TO BE BORN HERE. 
          DO THEY DIE HERE? HOW LONG DO THEY LIVE HERE? THOSE THINGS THERE, THERE'S MODELS OUT THERE. 
          OKAY. 
          COMMUNITIES HAVE DONE THAT. 
          OKAY. 
          THE VETTING PROCESS OR HOW THOSE NAMES GET ON THERE. 
          THE GREAT NEWS IS THAT THE, THE TIME OF SPAN WE FIND OURSELVES IN ON THE, ON THE CALENDAR IS THAT THERE ARE LOTS OF PEOPLE WHO HAVE DONE THESE ACTIV, THIS, THESE MEMORIALS ALL OVER THE UNITED STATES. 
          AND SO WE CAN LEARN FROM THEIR SUCCESSES AND SO WE CAN DO A LOT OF RESEARCH AND FIGURE OUT WHAT WOULD BE THE BEST FOR THE CITY OF BRENTWOOD. 
          I THINK THAT AD HOC COMMITTEE WOULD BE THE GREAT REVENUE, UH, AVENUE FOR THAT TO HAPPEN. 
          AND THEN ONCE THE VISION IS SET FROM THE CITY, THEN WE CAN OPEN IT UP TO THE PUBLIC FOR CONTRIBUTIONS AND THINGS LIKE THAT. 
          AND UM, I DO BELIEVE THAT WE HAVE A VERY SUPPORTIVE PUBLIC AND THE PUBLIC WOULD BE WILLING TO SUPPORT PROBABLY OVERFUNDING. 
          UM, BUT IT MAKES SENSE TO ME TO HAVE A PLACEHOLDER IN OUR BUDGET SO THAT WE CAN MOVE FORWARD AND THEN OPEN IT UP TO PUBLIC FUNDING AT THE RIGHT POINT. 
          AND OUR FINANCE, UM, TEAM, TEAM I'M SURE WOULD HAVE A LOT OF INPUT ON THAT AND HOW THAT WOULD NEED TO HAPPEN. 
          UM, SO THAT ONCE WE HAVE THE VISION SET, THEN OPEN IT UP TO THE FINANCING OF IT PUBLICLY, UH, DONATIONS, BUT HAVING A PLACEHOLDER IN THE CITY BUDGET SO THAT IT CAN BE ACCOMPLISHED AT THE LEVEL THAT WE AGREE AND THEN OPEN IT UP FOR PUBLIC CONTRIBUTIONS. 
          COMMISSIONER, SHOULD WE INCLUDE THIS AS A STANDALONE BRIEFING TOPIC AND THEN MAYBE THE COMMISSION CAN DECIDE, DO YOU WANNA DO AN AD HOC COMMITTEE? HOW WOULD IT BE COMPRISED? HOW WOULD THOSE INDIVIDUALS BE SELECTED? THAT TYPE OF THING. 
          AND HAVE A MORE FREE FLOWING CONVERSATION AT A BRIEFING. 
          SURE. 
          SOUNDS GREAT. 
          CAN WE JUST NOT PUT IT AT THE NEXT BRIEFING? WE'VE GOT TWO BIGGIES COMING UP WITH THAT ALREADY. 
          YOU SAID THE PENSION AND HER THING. 
          I MEAN WE GOT A YEAR TO DO THIS. 
          I THINK WE CAN WAIT A LITTLE WHILE. 
          WE DON'T HAVE TO DO IT OUT AND WE NEED TO LEAVE SOMETHING FOR THE NEW CITY MANAGER 
          [02:15:01]
TO WORK ON THAT  START. 
          I LIKE THAT IDEA REQUEST TO MAKE THAT, IF WE CAN FIT IT INTO THE NEXT BRIEFING, THAT WE COULD GO AHEAD AND MOVE FORWARD WITH IT IF WE CAN. 
          AND MAYBE YOU AND I CAN TALK OFFLINE TO SEE WHAT THAT MEANS IN TERMS OF COMMITMENT FROM, I MEAN, HOW LONG OF A DISCUSSION DO YOU THINK IT MIGHT BE? IF WE'RE HAVING THREE 10 MINUTE DISCUSSIONS, THAT'S ONE THING VERSUS THREE 30 MINUTE DISCUSSIONS. 
          SO THIS COULD BE PRETTY QUICK DISCUSSION. 
          I THINK SO. 
          AND UH, UH, AND I APPRECIATE YOU LEADING UP ON THIS THANK YOU. 
          AND BRINGING TO US, DESPITE IT'S BEEN MY JOY DESPITE SOME OF THE, UH, RESISTANCE THAT WAS, UH, WAS THERE. 
          BUT, UM, HOW CAN YOU ARGUE ABOUT, UM, YOU KNOW, UH, VETERANS NOW? YEAH, WE WOULDN'T BE ABLE TO BE HERE, UH, RIGHT NOW, UM, IF IT WASN'T FOR THEM, SO, AND WE'VE GOT THE NICE MEMORIAL DAY ONE COMING UP ANYWAY. 
          RIGHT ON. 
          THAT'S A CEREMONY. 
          NOT A, NOT A, THAT'S WHAT I MEAN, NOT A IES COMING UP MM-HMM . 
          RIGHT NOW. 
          THAT'S, SEEMS LIKE YOU'VE GOT A LOT ON YOUR PLATE TO GET THAT ONE DONE. 
          UM, I APPRECIATE THE EFFORT BUT, UM, I THINK I CAN RUN TWO VS. 
          CONCURRENTLY. 
          THANK YOU. 
          OKAY, SO, SO THE CONVERSATIONS THAT WE'LL HAVE, THE FOLLOW UP CONVERSATIONS ABOUT HAZARDOUS DUTY AND ENTERPRISE FUND, I THINK IT'D BE FAIRLY BRIEF CONVERSATIONS. 
          UH, I DON'T IMAGINE US DOING WHAT WE'VE DONE TODAY. 
          ALRIGHT. 
          SO WE'LL SHOOT IF WE CAN FOR THE NEXT BRIEFING AND IF, IF SOMETHING COMES UP THAT'S GONNA, YOU KNOW, PUSH IT OFF, WE COULD DO THAT. 
          BUT RIGHT NOW WE'LL PLAN FOR THE NEXT BRIEFING AND COOL. 
          VERY GOOD. 
          THANK YOU. 
          ALRIGHT. 
          THANK YOU. 
          THANK YOU. 
          HAPPY CONVERSATION.
* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.