[00:00:05]
START THEN. GOOD MORNING. GOOD MORNING. LIKE TO CALL TO ORDER THE TRUE CALENDAR DEVELOPMENT AUTHORITY AND WITH THE PUBLIC FACILITY AUTHORITY TO ORDER A SPECIAL CALLED MEETING. CAN I GET APPROVAL OF THE AMENDED AGENDA? IS NOT ON THERE, BUT WE HAVE TO APPROVE THE AGENDA. SO MOVED. SECOND. MOVED AND SECONDED. TO APPROVE THE AGENDA. ALL IN FAVOR? BY THE SHOW OF
[I. APPROVAL OF MINUTES]
HANDS. ALL OPPOSED BY THE SAME SIGN. MOTION IS CARRIED. NOW GET APPROVAL OF THE MINUTES FOR THE CALENDAR DEVELOPMENT AUTHORITY JOINT ANNUAL MEETING WITH THE PUBLIC FACILITY AUTHORITY ON SEPTEMBER THE 10TH, 2025. MOTION. SECOND. OKAY. MOTION AND SECOND. TO APPROVE THE MINUTES FROM THE SEPTEMBER 10TH, 2025 MEETING. ALL IN FAVOR? BY A SHOW OF HANDS, ALL OPPOSED BY THE SAME SIGN. MOTION IS CARRIED. WE MOVE INTO OTHER BUSINESS. YOU'D LIKE ME[II. OTHER BUSINESS]
TO. OKAY. THIS MEETING IS REALLY. A PROCEDURAL KIND OF MEETING. WHAT HAS HAPPENED IS IN 2019, 2018, THE BOARD APPROVED A BOND LEASE TRANSACTION WITH INTERFACE FLOOR. FRANKLY, I CAN'T REMEMBER HOW MANY OF YOU WERE ON THE BOARD IN 2018. I THINK MOST OF YOU WERE. YEAH. WERE YOU WERE YOU THE ONLY ONE? THE ONLY ONE. SO YOU MAY HAVE A RECOLLECTION SOMEWHAT OF A RECOLLECTION OF THAT. WHAT THAT WAS. THE DEVELOPMENT AUTHORITY ACTED AS THE ISSUER OF THE BOND FOR THAT DEAL. SO IN THAT TRANSACTION, WHAT HAPPENS IS THE COMPANY HERE INTERFACE TRANSFERS THE PROPERTY. IN THIS CASE REAL PROPERTY AND PERSONAL PROPERTY TO THE DEVELOPMENT AUTHORITY. THE DEVELOPMENT AUTHORITY TAKES TITLE TO IT AND LEASES IT BACK TO THE COMPANY FOR THE BOND PERIOD. WHICH IS EXPIRING NOW AT THE END OF THE BOND PERIOD. THE COMPANY HAS THE OPTION. IN THIS CASE THERE WAS AN OPTION TO EXTEND IT.THEY DIDN'T EXERCISE THAT. THEY HAVE AN OPTION TO. THEY'RE ALL AN EXERCISE OPTION, AN OPTION TO REPURCHASE THE REAL PROPERTY AND THE PERSONAL PROPERTY THAT WAS CONVEYED TO THE AUTHORITY IN 2018, THE AUTHORITY SIGNED AN AGREEMENT BASICALLY THAT WELL, I SAY IT'S BASICALLY PROCEDURAL THAT THE BOARD AGREED TO THIS BACK IN 2018, AGREED TO CONVEY IT BACK IF UPON THEIR ASKING FOR IT. SO THE PURPOSE OF THIS MEETING IS TO AUTHORIZE AN OFFICER TO SIGN OFF ON THE CLOSING DOCUMENTS TO SIGN THE PROPERTY, BACK OVER TO INTERFACE THE REAL PROPERTY AND THE PERSONAL PROPERTY CLOSING RIGHT NOW IS SET FOR DECEMBER THE 8TH. I PREPARED A RESOLUTION. THE COMPANY WANTED ONE CHANGE TO THE RESOLUTION WHICH I MADE, WHICH WAS ESSENTIALLY TO SAY THAT WE'LL CLOSE ON DECEMBER THE 8TH UNLESS SOMETHING COMES UP. AND THEN WE CAN WE CAN EXTEND THAT CLOSING DATE OUT A LITTLE BIT IN ORDER TO ACCOMMODATE SCHEDULES FOR INTERFACE. SO THAT RESOLUTION HAS BEEN PREPARED. I THINK IT'S UP ON THE SCREEN NOW. AND THAT WOULD BE THE ONLY ACTION ITEM WOULD BE TO APPROVE THE RESOLUTION TO ALLOW. I HAVE IT WORDED HERE, THE CHAIRMAN OR ANY SUCH OTHER AS THE AUTHORITY MAY DESIGNATE TO BE THE ONES TO SIGN THE DOCUMENTS. THAT COULD BE THE CHAIRMAN. THE CHAIRMAN. IS GOING TO BE AVAILABLE AND ACCESSIBLE AROUND THE EIGHT, OR WE CAN DESIGNATE SOMEBODY ELSE TO ACTUALLY SIGN OFF ON THE DOCUMENTS. AND I'VE GOT I GOT MORE BACKGROUND ON IT IF THE BOARD WANTS TO KNOW I THIS WAS A. PILOT AGREEMENT WAS INVOLVED WITH THIS ONE AS THERE USUALLY IS. WHICH MEANS THAT DURING THE BOND PERIOD, THE THE PERIOD WHERE THE PROPERTY WAS OFF THE
[00:05:04]
TAX ROLLS, BECAUSE IT'S IN THE NAME OF THE AUTHORITY, THEY AGREED TO PAY A PILOT IN THE AMOUNT, I BELIEVE A 10% FIRST YEAR GOING UP FOR SEVEN YEARS. AND THE LAST YEAR THIS YEAR.RIGHT. AND DANA, WE ASKED IF SHE COULD SHE COULD ATTEND THIS MORNING IN CASE YOU HAD ANY QUESTIONS LIKE THAT. IN TERMS OF THE SO OF COURSE, THE PILOT WILL STOP. THE PROPERTY WILL GO BACK ON THE TAX ROLLS ONCE THE DEEDS ARE EXECUTED AND RECORDED TO TAKE EFFECT ON JANUARY, JANUARY 1ST OF 2026. ANY OTHER QUESTIONS? ARE YOU AVAILABLE ON THE EIGHTH SO FAR? WELL, I GUESS IF THE BOARD WANTED TO, THEY COULD DO A MOTION TO AUTHORIZE THE CHAIRMAN AND YOU ALL COULD DESIGNATE A BACKUP. YEAH, YEAH. HAVE THE SECRETARY AS BACKUP. IT'D BE A GOOD IDEA.
WELL, THE SECRETARY MAY NEED TO SIGN OFF ALSO AS ATTESTING THE SIGNATURE. SO IT MIGHT HAVE TO GET ANOTHER BOARD. YEAH. MIGHT WE GET ANOTHER BOARD MEMBER? IF THERE'S SOMEONE WHO'S HERE, I'M AVAILABLE. OKAY. YOUR OFFICE. WELL, YES. IF IF WE ACTUALLY DO IT IN PERSON, I'M GOING TO BE TALKING WITH THEM AND SEE IF MAYBE WE CAN'T DO IT BY MAIL, WHICH WILL MAKE IT EVEN EASIER.
BUT I WON'T BE HERE ON THE EIGHTH. OKAY. I'M. WELL, WE'LL NEED PROBABLY NEED JUST TWO PEOPLE AVAILABLE. SO THE SECOND PERSON. WOULD BE THE VICE CHAIR WOULD BE THE VICE CHAIR. WHO IS THE VICE CHAIR? I'M NOT EVEN SURE I KNOW RICHARD WOODS. MOTION THAT DRAWS CONCERN. AND LONNIE, IF HE'S AVAILABLE, AND I KNOW I'M. I WON'T BE AVAILABLE. OKAY. ARE YOU AVAILABLE? I MEAN, ON THE EIGHTH, ON THE EIGHTH. MONDAY. NEXT. NEXT MONDAY. SHOULD BE.
YEAH, I SHOULD BE, BUT I JUST WANT TO MAKE SURE WE HAVE SOME BACKUP, JUST IN CASE WE'RE GOING TO MAKE A MOTION THAT CHARLES SIGNS AS THE AS THE CHAIR, WITH ME AND KIMBLE AS BACKUP SIGNERS OR A TEST OR. OKAY, I'LL MAKE A MOTION TO APPROVE. SECOND. OKAY, WE GOT A MOTION AND A SECOND ON THE RESOLUTION TO. IF I'M NOT AVAILABLE, DO WE HAVE TWO OTHER DESIGNEES TO SIGN THE DOCUMENTS? ALL IN FAVOR? BY THE SHOW OF HANDS. ALL OPPOSED BY THE SAME SIGN. MOTION IS CARRIED. WILL YOU BE AVAILABLE? JUST NOT ON THE EIGHTH OR DAYS, AROUND THE EIGHTH, TO BE BACK IN OFFICE ON THE 15TH FROM WHEN I'M LEAVING ON THE FOURTH. OKAY, SO THAT'S OKAY. THAT ANSWERS MY QUESTION. YES. WELL, HEY, ABSOLUTELY HAVE TO DO THAT. CAN I GET A MOTION TO ADJOURN? SO SO ORDERED. ALL SECOND MOVED AND SECONDED. WE ADJOURN. MEETING IS ADJOURNED.
THIS WAS. A GOOD THING. WE WE. ARE WE OKAY? SO I'M GUESSING THEY GO BACK TO PAYING 100% REAL ESTATE ON ON THE ASSESSED VALUE OF. THEIR ALREADY PAID ON TAXATION ON ALL THEIR OTHER PROPERTIES. THIS WAS JUST FOR THE. SO IT GAVE THEM A BENEFIT FOR SEVEN YEARS I GUESS. YES.
MY APOLOGIES. DID YOU GUYS VOTE ON ACCEPTING THE RESOLUTION? PLEASE JUST OKAY SIGNING IT BECAUSE I THINK I'M THINKING, YOU KNOW, WE NEED A MOTION THAT WE ACCEPT THE RESOLUTION.
SECOND, MOVED TO SECOND. DID WE ACCEPT THE RESOLUTION BEFORE US? ALL IN FAVOR BY THE SHOW OF HANDS. ALL OPPOSED BY THE SAME SIGN. MOTION IS CARRIED. WE NEED TO REDO A MOTION TO ADJOURN. YES. YEAH, I HAVE A MOTION TO ADJOURN. MOTION. SECOND WE MOVED. MOTION. AND SECOND, THAT WE ADJOURN THE MEETING
* This transcript was compiled from uncorrected Closed Captioning.