[4&5- 4. Presentations regarding programs and venue tax use by:4.I) Frontier Texas! 4.2) Taylor County Expo Center: 5. Discussion and possible action regarding the allocation of the 2% venue tax]

AND VENUE TAX USE BY FRONTIER TEXAS AND TAYLOR COUNTY EXPORE CENTER. WHO IS GOING TO ADDRESS US TODAY? JEFF? YOU? ALL RIGHT.

JEFF, WE'LL LET YOU PROCEED. >> GOOD AFTERNOON, EVERYBODY.

THANK YOU FOR BEING HERE. I APPRECIATE Y'ALL TAKING THE TIME TO SERVE ON THIS BOARD AND TO HELP CONTINUE TO STRENGTHEN THE ECONOMY AND THE QUALITY OF LIFE HERE HERE IN ABILENE AND TAYLOR COUNTY. IT'S NICE TO BE HERE IN A SLIGHTLY DIFFERENT POSITION THAN WE WERE LAST YEAR BUT WE'RE STILL IN A TIME WHERE FROM AN ECONOMIC PERSPECTIVE WE HAVE A LOT OF UNKNOWNS IN FRONT OF US SO WHAT WE WANT TO DO AND MY BOARD WANTED TO DO IS TO TAKE AWAY SOME UNKNOWNS AND TOO TRY TO MOVE FORWARD WITH THIS PARTNERSHIP BETWEEN FRONTIER TEXAS, THE EXPO CENTER, AND THE CITY AND THE COUNTY, AND THIS WAS REAL A CREDIT TO MAYOR ANTHONY WILLIAMS THAT HE SUGGESTED IN A PREVIOUS MEETING THAT OUR TWO BOARDS GET TOGETHER AT SOME POINT BEFORE THIS TYPE OF MEETING AND SEE IF WE HAVE SOME KIND OF A CONSENSUS ABOUT THE FUNDING ALLOCATIONS AND WE DID HAVE THAT MEETING AND IT WAS A VERY POSITIVE THING.

OUR TWO DIFFERENT GROUPS OVERLAP IN SO MANY WAYS.

WE ARE SUPPORTERS OF EACH OTHER SO MANY DIFFERENT WAYS, PARTNERED OVER THE YEARS. IT WAS EASY TO SIT DOWN AND SAY WHAT'S THE NEXT THING FOR THE BIG PICTURE AND SO WHAT WE ENDED UP TALKING ABOUT WAS MOVING TOWARDS THAT GOAL OF ENDING UP AT 50/50 SPLIT AT THE TIME THAT THIS SUN SETS IN 2024, AND SO THAT WAS SOMETHING THAT WOULD TAKE FRONTIER TEXAS THE PERCENTAGE ALLOCATION BEING REDUCED BY 3.5% AND THE EXPO CENTER INCREASE BY 3.5% AND DOES EVERYBODY -- I WANTED TO ASK, DOES THAT MATCH WHAT EVERYBODY ELSE UNDERSTANDS WHERE WE ARE RIGHT NOW? YOU CAN LOOK IN YOUR PACKET THAT THE CITY JUST PASSED OUT AND I BELIEVE IT SAYS WE ARE CURRENTLY -- YEAH, IT DOES. IN YOUR PACKET, THERE'S THE

[00:05:04]

CURRENT ALLOCATION AT 53.5 FOR FRONTIER TEXAS SO THAT MATCHES WHAT I WAS ASSUMING AND MY BOARD LOOKED AT.

>> DID Y'ALL DISCUSS THE POINT THAT THE EXPO CENTER DOES ALSO RECEIVE SOME INTEREST IN SYNCING FUND?

>> WE DIDN'T SPECIFICALLY DISCUSS TEA THIS TIME, GLENN, BUT I THINK WE'RE AIL AWARE OF THAT ANDI THIS TIME, GLENN, BUT I THINK WE'RE AIL AWARE OF THAT AND T THIS TIME, GLENN, BUT I THINK WE'RE AIL AWARE OF THAT AND , BUT I THINK WE'RE AIL AWARE OF THAT AND THAT'S OKAY WITH US.

WHAT YOU'RE POINTING OUT IS THAT IN THE ACTUAL CASH FLOW, THE EXPO CENTER DOES STILL, TO A DEGREE, BENEFIT FROM THE BOND, SOME LEVEL OF BONDED ENDEBTEDNESS IN THE BEGINNING OF THIS AND THAT DEBT IS STILL PAID BEFORE THE SPLIT AND I'M AWARE OF THAT AND FINE WITH THAT, BUT THANK YOU FOR BRINGING THAT UP.

IT TECHNICALLY LOOKS LIKE THAT WILL BE MORE.

OUR MAIN CONCERN WITH THIS VENUE DISTRICT IS TWOFOLD, OF COURSE, NUMBER ONE THOSE UP FRONT COSTS WHEN WE'RE DOING THIS.

WE ARE EVALUATING NOW THE PROCESS OF STARTING TO EVALUATE WHAT A NEW VENUE DISTRICT MIGHT LOOK LIKE AND I DON'T WANT TO GO INTO TOO MANY DETAILS TODAY BECAUSE EACH OF OUR BOARDS WILL NEED TO MEET AND COME TOGETHER AND MAKE SURE THAT PLAN IS SOMETHING WE GROW UPON COMPLETELY BUT RIGHT NOW WE HAVE A BASIC AGREEMENT THAT THAT WOULD BE A 50/50 SPLIT.

>> STARTING THIS YEAR? NEW REENACTED VENUE DISTRICT IS IN PLACE, WORKING ON THE ASSUMPTION THAT WE'LL HAVE A REFERENDUM ON THE NOVEMBER CYCLE.

THAT WOULD BE A NATURAL TIME TO HAVE IT IN THE NOVEMBER 2023 CYCLE SO IT'S FULLY IN PLACE WHEN THIS CURRENT VERSION OF IT, YOUR BOARD, SUN SETS AND A NEW ITERATION IS IN PLACE.

>> BESIDES Y'ALL BOARDS AGREEING ON THIS, WHAT ALL DOES IT TAKE

FOR THIS TO HAPPEN? >> I DON'T WANT TO SPEAK TO THAT YET BECAUSE THERE ARE PEOPLE ON THE CITY STAFF AND POSSIBLY ON THE COUNTY STAFF THAT WILL NEED TO BE THE ONES TO BE PUSHING THAT PROCESS FORWARD AND I STUDIED THAT, OF COURSE, BUT BASICALLY WE WOULD HAVE TO SEND A NOTIFICATION OF OUR INTENTIONS TO THE ATTORNEY GENERAL AND STATE COMP TROLLING FOR REVIEW IS THE MAIN PROCESS AND THEY SEND BACKTROLLING FOR REVIEW IS THE MAIN PROCESS AND THEY SEND BAE FOR REVIEW IS THE MAIN PROCESS AND THEY SEND BAR FOR REVIEW IS THE MAIN PROCESS AND THEY SEND BACK A RESPONSE THAT SAYS THE WORDING MEET THE QUALIFY KAYINGS OF THE LAW AND IT'S PUT IN FRONT OF THE VOTERS OF TAYLOR COUNTY, SO THAT'S WHAT WE'RE LOOKING TOWARDS. SO LET'S JUST TALK ABOUT THIS YEAR QUICKLY SO YOU UNDERSTAND WHERE FRONTIER TEXAS IS BECAUSE THAT'S IN THE JOB RIGHT HERE, TOO.

OBVIOUSLY THIS PAST YEAR WAS A FINANCIAL SLOWDOWN AND YOU WILL REMEMBER LAST JULY WHEN WE MET, I WAS TELLING YOU SOMETHING MOST OF Y'ALL DIDN'T KNOW AT THE TIME.

WE WERE OPEN DURING THAT TIME. WE ONLY CLOSED OUR CASH RIDGE STRAYER FROM MAY 18TH TOEGISTER FROM MAY 18TH TO JUNE 1ST AND WE OPENED FULLY JUNE 1ST AND EVEN DURING THOSE 6 WEEKS OF THAT FRONT END OF THE PANDEMIC, WE WERE OPEN AS --

>> MARCH 18TH. >> I BEG YOUR PARDON, MARCH 18TH. WE STAYED OPEN TO ASSIST TRAVELLERS IN DISTRESS. THE MOST COMMON REASON PEOPLE GET DISTRESSED IS IF THEIR CELL PHONE BREAKS AND THEY DON'T KNOW WHERE THEY ARE. WE WERE OPEN BUT TRAVELING REMAINS QUITE A BIT AND REMAINS DOWN TO A DEGREE STILL THROUGH THE CURRENT TIME. BUT THE GOOD THING FOR US FINANCIALLY IS THAT WHERE WE WERE OFF IN EARNED REVENUES FROM OUR GIFT SHOP AND TICKET SALES AND, OF COURSE, OFF BECAUSE OUR HOTELS WERE QUITE A BIT EMPTIER DURING THE FISCAL YEAR FOR A TIME, WE WERE ABLE TO RECEIVE PAYROLL PROTECTION PROGRAM AND

[00:10:06]

SO FOR THE TOTAL FISCAL YEAR, AND WE USE THE SAME FISCAL YEAR AS THE CITY, FOR THE FISCAL YEAR THAT ENDED ON SEPTEMBER 30, 2020, WE WERE OFF BUDGET BY $153,000 THAT WE HAD EXPECTED TO. $80,000 OF THAT WAS UNREALIZED VENUE TAXES. IN OTHER WORDS, THE VENUE TAXES FOR ME LAST FISCAL YEAR ENDED UP $80,000 OFF.

I WAS ALSO ABLE TO PULL BACK ABOUT $66,000 IN MY SPENDING AND THEN WE GOT $67,000 IN THAT FIRST ROUND OF PAYROLL PROTECTION SO ESSENTIALLY WE CAME OUT WELL.

IN TERMS OF THE MONEY IN THE BANK, OUR RESERVES THAT WE WERE AT THE FRONT END OF THE PANDEMIC, I WAS CONCERNED WE WOULD BE DIPPING REALLY DEEP INTO THAT BUT BECAUSE OF THE HOTEL ECONOMY BOUNCING BACK ENOUGH AND THAT COMING ON, VISITORS SHOWING UP AND STILL SPENDING MONEY, ETC., OUR DONORS CONTINUING TO DONATE TO US TO MAKE SURE THAT WE WEREN'T GOING TO HAVE TO LOSE EMPLOYEES AND THINGS LIKE THAT, CASH WISE WE ENDED UP A LOT BETTER THAN WE EXPECTED, TO A DEGREE, SO IT WASN'T PAINFUL TO THAT DEGREE. THE CURRENT FISCAL YEAR IS NOT NEARLY AS BAD BUT WE'RE OFF IN SOME CATEGORIES.

THE NUMBER OF TRAVELERS ON THE ROAD IS LOWER BUT I WAS EXPECTING MOST OF THAT TO SOME DEGREE BUT THE GOOD NEWS IS IN SOME OTHER AREAS PEOPLE ARE SPENDING.

THE NUMBER OF DOLLARS PER VISITOR WALKING INTO FRONTIER TEXAS IS HIGHER. THEY'RE SPENDING MORE IN OUR GIFT SHOP. IN FACT, I THINK JULY MIGHT HAVE BEEN ONE OF OUR HIGHEST GIFT SHOP SALES NUMBERS WE HAVE EVER HAD, EVEN THOUGH THE TICKET REVENUE WAS OFF, SO THAT'S AN INTERESTING DYNAMIC. SO WE'RE FEELING GOOD.

LAST YEAR DURING THE PANDEMIC, WE HAD INTENDED TO PUT ANOTHER $100,000 FROM OUR FUNDRAISING INTO OUR OPERATING ENDOWMENT THAT WE'RE BUILDING, WHICH IS SOMETHING THAT WE'RE PUTTING IN PLACE SO THAT SOME TIME IN THE FUTURE IF WE NEED TO HAVE LESS RELIANCE ON THE VENUE DISTRICT OR SOMETHING LIKE THAT, THAT WE HAVE AN OPERATING RESERVE, IT'S JUST SOMETHING THAT STRATEGICALLY WAS RECOMMENDED TO US BY SOME OF OUR DONORS AND JUST NONPROFIT PRINCIPALS BUT WE DIDN'T DO THAT BECAUSE OF THE PANDEMIC BUT WE'RE BACK ON TRACK AND I'M ABOUT TO MAKE A RECOMMENDATION FOR MY BOARD TO PUT THAT WIN HUNDRED THOUSAND THAT WAS RAISED, THANKS TO TOM AND LISA FOR WORKING WITH US ALONGSIDE THE TAYLOR COUNTY HISTORY DISTRICT, BUFFALO GAP, AND SPONSORING A FUNDRAISER FOR US BACK IN MAY AND THAT PUT $35,000 IN EACH OF OUR BANK ACCOUNTS AND THAT WAS PERFECT FOR WHAT WE NEEDED AT THE TIME. BECAUSE OF THE GENEROSITY AND CAREFUL MANAGEMENT, WE'RE IN GOOD FINANCIAL SHAPE.

THAT'S PROBABLY ONE OF THE REASONS IT WAS FAIRLY EASY FOR ME TO SEEM GENEROUS IN SOME WEIRD WAY TO SAY WE COULD GIVE UP 1.5% THIS YEAR AND 1.5% NEXT YEAR AND THE HALF PERCENT NEXT YEAR. I THINK YOU WILL HERE FROM ROCHELLE, SOME OF THEIR IMPACTS WERE MUCH GREATER AND I WANT TO MAKE SURE THAT WE DO WHAT WE CAN TO MAKE SURE THAT THAT HAPPENS.

SO THE OFFICIAL STATEMENT FROM MY BOARD OF DIRECTORS, I WILL READ THAT TO YOU. IT SAYS THAT FRONTIER TEXAS AGREES WITH THE EXPO CENTER TO REACH A 50/50 SPLIT IN THE ALLOCATIONS BY THE SUN SET OF THIS VENUE TAX DISTRICT IN 2024.

TO ACHIEVE THIS, WE PROPOSE THE BOARD SHIFT 1.5% TO THE EXPO CENTER IN 2021, TODAY IN THIS MEETING, THAT WAY WE WOULD LEAVE THIS MEETING AT 52-48 AND THEN ANOTHER 1.5% SHIFT NEXT YEAR AND THEN A FINAL 0.5% SHIFT IN THE LAST BUDGET MEETING THAT WOULD TAKE US THROUGH THAT PARTIAL FISCAL YEAR AND THIS LINE I THINK IS IMPORTANT FOR ME TO READ EXACTLY.

THIS WOULD BRING THE ALLOCATION TO A 50/50 SPLIT WHICH IS WHAT WE PROPOSE A REENACTED DISTRICT ALLOCATE STARTING IN APRIL 2024 AFTER A SUCCESSFUL PUBLIC REFERENDUM.

[00:15:02]

THAT'S OUR GOAL AND THAT'S WHAT WE WOULD LOVE TO SEE YOU DO.

OF COURSE YOU HAVE THE FREEDOM TO DO WHAT YOU WANT AND I THINK YOU'RE GOING TO HEAR SIMILAR THINGS FROM ROCHELLE AND SO THAT WOULD BE A GOOD PLAN FOR US. THE IMPORTANT THING HERE, FOR ME, IS THAT YOU, AS A BOARD, AND THE PUBLIC UNDERSTAND HOW IMPORTANT IT IS TO EACH OF OUR TWO ORGANIZATIONS TO SUPPORT EACH OTHER AND THAT WE WORK TOGETHER, WE DO NOT FIGHT IN ANY SENSE. WE WORK TOGETHER TO MAKE SURE THINGS GO AS SMOOTHLY AS POSSIBLE FOR BOTH.

WE BENEFIT FROM THE EXPO CENTER AND WE SPART THEIRSUPPORT THEIRL PROGRAMS. WE SPONSORED COWBOY POETRY BECAUSE THAT'S RIGHT DOWN MY MISSION STATEMENT, PROMOTING TEXAS WESTERN HERITAGE. THAT'S WHAT I HAVE TOO PRESENT.

DO YOU HAVE MORE QUESTIONS FOR ME?

>> I WILL SAY THIS. I REALLY APPRECIATE YOU, ROCHELLE, YOUR BOARD FOR -- THIS IS A PRETTY MUNDANE ANNUAL CONVERSATION WITH THE EXCEPTION OF THE SPLITTING OF THE REVENUE, WHICH IS ALWAYS VERY LIVELY. I APPRECIATE YOU AND ROCHELLE AND YOUR BOARD MAKING THIS A LITTLE LESS LIVELY IN REGARD TO THAT CONVERSATION. IT'S THE RIGHT MESSAGE TO THIS COMMUNITY. COVID-19 WAS AND IS A CHALLENGE FOR OUR COMMUNITY, AND I LOOK FORWARD TO BETTER UNDERSTANDING WHAT A NEW VENUE WILL LOOK LIKE AND HOW TOGETHER WE CONTINUE TO ELEVATE THE LIFE IN THE COUNTY AND THE CITY.

THINK AND ROCHELLE, THANK YOU ALSO.

I PNK AND ROCHELLE, THANK YOU ALSO.

I PANK AND ROCHELLE, THANK YOU ALSO.

I PYAND ROCHELLE, THANK YOU ALSO.

I POAND ROCHELLE, THANK YOU ALSO.

I PUAND ROCHELLE, THANK YOU ALSO.

I P AND ROCHELLE, THANK YOU ALSO.

I PAPPRECIATE TEAM WORK. AND THE COLLABORATION.

>>>> OCOLLABORATION. >> ON PAGE 8 OF 28 IT TALKS ABOUT THE TAX COLLECTION THROUGH JUNE 30TH.

FROM 18 TO 19 AND 19 TO 20 IT TOOK A HIT.

JUNE 30TH, DO YOU THINK THAT WHEN THIS FISCAL YEAR IS UP, THAT THAT WILL GET CLOSE BACK TO 846? DO YOU HAVE ANY IDEA WHERE THAT MIGHT LAND?

>> I'M STILL STUDYING THAT. IN FACT, I'M PROBABLY GOING TO BE MAKING MY BUDGET PRESENTATION TO MY BOARD IN ABOUT 3 WEEKS AND LAST YEAR I PUSHED IT BACK TO SEPTEMBER JUST TO GIVE US MORE TIME TO UNDERSTAND WHAT'S GOING ON.

THIS YEAR I FEEL A LITTLE MORE CONFIDENT WITH THAT.

THE MOST RECENT CHECK WE RECEIVED WAS ONE OF THE HIGHEST IN ABILENE'S HISTORY. IN FACT, NANCY LYLES SAYS SHE BELIEVES IT WAS POSSIBLY THE LARGEST HOTEL TAX CUT IN ABILENE'S HISTORY. WE DON'T KNOW IF IT WAS DUE TO LATE PAYMENTS, OFF CYCLE PAYMENTS BECAUSE THAT HAPPENS ON OCCASION. THERE'S ROOM FOR HOTELS WITH THE STATE TO DELAY THEIR PAYMENTS WITHOUT PENALTY, I BELIEVE, AND SO WE DON'T ALWAYS KNOW IF IT'S JUST THAT SOMEBODY WAS BEHIND, BUT THE GOOD NEWS IS IT LOOKS SOLID RIGHT NOW.

OUR HOTELS FEEL GOOD. WHEN I TALKED TO THEM RECENTLY, THEY HAVE ALL KINDS OF DIVERSE BUSINESS IN THERE AND SO I'M FEELING PRETTY SOLID SO I DON'T KNOW WHERE IT'S GOING TO END UP, BUT I FEEL COMFORTABLE THAT IT'S GOING TO BE CLOSE TO WHAT WE HAD

PROJECTED FOR THIS YEAR. >> THANK YOU.

>> I WOULD SAY THIS EXCLUDES THE LAST QUARTER, WHICH IS ALWAYS A GOOD QUARTER AND SO I THINK THAT THEY WILL EXCEED THE TOTALS FROM

THE PREVIOUS YEAR. >> I DO, TOO.

>> FOR SURE, MAYBE EVEN THE YEAR BEFORE THAT.

>> YES, YES. >> JEFF, WHEN WE CALLED THE ORIGINAL REFERENDUM AND THE CITIZENS TOLD US YES, THIS IS SOMETHING THEY WANTED US TO DO, WE CAME TOGETHER WITH THE THREE LEGGED STOOL, THE CITY, THE COUNTY, AND AISD, AND THE ORIGINAL BOARD WAS SHARED BY MAYOR BARR, COUNCIL PERSON KAY ALEXANDER, GEORGE NEWMAN AND DAVID PALMECH.

IT WORKED UNTIL -- WELL, IT WORKS STILL TODAY.

IT'S BEEN CONTENTIOUS NOW AND THEN BY I THINK THE INTENT IS TO MAKE IT WORK FOR ALL OF US AND WHEN AISD GOT THEIR PART OF THE INVOLVEMENT OUT OF IT AND IT BECOME CITY AND COUNTY, I THINK WE AIL WANTED TO FOCUS ON LET'S BRING THE PARITY TO IT AND WE'LL

[00:20:04]

BE ABLE TO PROVE TO THE CITIZENS THAT, YES, IT DOES WORK, IT HAS WORKED, AND IT NEEDS TO CONTINUE TO WORK FOR US.

>> YES, I AGREE. THANK YOU.

ANY OTHER QUESTIONS? THANK Y'ALL.

>> APPRECIATE IT. >> ROCHELLE? DO YOU WANT TO COME UP? KEEP WANTING TO PUT YOU UNDER OATH BUT THAT'S A WHETHER OR NOT HE WIL

SEAT. >> I WANT TO ECHO WHAT JEFF SAID IN THANKING YOU FOR WHAT YOU DO FOR OUR COMMUNITY.

I DON'T WANT TO GO INTO A LOT OF NUMBERS BECAUSE WE HAVE HEARD A LOT OF NEGATIVE NUMBERS FROM COVID AND WE ENDED $550,000 LAST YEAR IN THE HOLE. I DID BLOW THROUGH EVERY DIME OF OUR EMERGENCY RESERVE MONEY. WE ARE VERY THANKFUL --

>> I'M SORRY, I DON'T UNDERSTAND WHAT YOU JUST SAID.

>> WE USED EVERY DIME OF OUR EMERGENCY MONEY WE HAD BUT WE DID RECEIVE TWO PPP LOANS, ONE LAST YEAR THAT WAS FORGIVEN IN THIS FISCAL YEAR AND THEN ONE IN FEBRUARY, SO THAT HAS HELD US SOLID AND WE HAVE BEEN ABLE TO CONTINUE WITHOUT HAVING TO BORROW MONEY FROM THE BANK. WE HAVE BEEN ABLE TO CONTINUE OUR OPERATIONS. WE HAD A WONDERFUL WESTERN HERITAGE CLASSIC AND WE'RE LOOKING FORWARD TO A VERY SUCCESSFUL WEST TEXAS FAIR AND RODEO AND WE HAVE CONTINUED WITH OUR LARGE CATTLE AND HORSE SHOWS AND HOPEFULLY WE'RE DRIVING SOME OF THAT VENUE TAX INTO THIS COMMUNITY SO WE APPRECIATE THE OPPORTUNITY TO BE BEFORE YOU. WE APPRECIATE FRONTIER TEXAS AND THEIR PARTNERSHIP IN THIS AS WELL AS ALL THE OTHER WORK WE DO

WITH THEM. >> OKAY.

GREAT JOB LAST YEAR, WE TALKED THROUGHOUT LAST YEAR AND GREAT LEADERSHIP YOU DISPLAYED, YOU AND YOUR BOARD.

YOU AND YOUR EFFORTS. >> THANK YOU, I APPRECIATE THAT, MAYOR. IT WAS COMFORTABLE TO KNOW I HAD YOUR SUPPORT AND CONTINUING THE BUSINESS AT THE EXPO CENTER AND I KNOW IT WAS VITAL TO OUR COMMUNITY AS A WHOLE.

>> THIS IS A LITTLE BIT OFF TOPIC, BUT EVERYBODY IN THE WORLD SEEMS TO BE DELAYED IN GETTING STUFF IN, IS THAT IMPACTING ANY OF THE RENOVATIONS AND CHANGES AT THE EXPO CENTER?

>> OUR RENOVATIONS WERE COMPLETED AT THE END OF APRIL SO WE'RE 100% FINISHED WITH THAT. WHAT WE'RE STRUGGLING WITH, LIKE EVERYONE IS, IS EMPLOYEES. I'M WORKING WITH HALF OF MY OUTSIDE STAFF, WHICH WAS NOT VERY BIG TO AGAIN WITH BUT WHEN YOU GO FROM 18 TO 9 PEOPLE OUTSIDE, YOU STRUGGLE TO GET THINGS DONE. I HAVE HAD TO HIRE CONTRACT SERVICES IN WHICH COSTS QUITE A BIT MORE MONEY.

OUR CONCESSION STANDS ARE STRUGGLING TO HAVE EMPLOYEES AND ARE STRUGGLING FOR PRODUCT, BELIEVE IT OR NOT, SO WE'RE

HAVING DIFFICULTY IN THAT AREA. >> ROCHELLE, I KNOW THAT DURING THE FIRST PART OF COVID, YOU HOSTED SOME EVENTS THAT TRADITIONALLY WE DIDN'T HAVE AN OPPORTUNITY FOR THOSE EVENTS.

WERE YOU ABLE TO RETAIN ANY OF THOSE MOVING FORWARD?

>> WE HAVE THE NATIONAL SHORT HORN CATTLE SHOW AND THEY GO TO A DIFFERENT VENUE EVERY YEAR. WE DID ALSO HAVE THE TEXAS SHORT HORN SHOW AND WE HAVE RETAINED THEIR BUSINESS.

WE HAD A SHOW IN JULY OF LAST YEAR THAT WAS A STEER SHOW AND IT CAME IN LAST YEAR UNDER THE NAME OF THE GRAND FINALE.

THEY HELD A SHOW AGAIN THIS JULY UNDER THE NAME OF THE JUNIOR NATIONAL STEER SHOW SO THEY HAVE BEEN IN OUR COMMUNITY THREE

TIMES SINCE. >> IS THAT PRETTY BIG? I DROVE BY AND THERE WERE TRAIL LUHRS COMPLETELY COVERING THE

PARKING LOT THERE. >> YEAH, THE FIRST SHOW WE HAD ABOUT 900 HEAD OF STEER LAST JULY AND THE FEBRUARY SHOW THEY HAD 1700 HEAD OF STEER AND THIS JULY WE HAD ABOUT 800 SO IT'S BEEN VERY BIG. WE HAVE ALSO BEEN VISITING WITH A LOT OF OTHER CATTLE SHES AND WE BROUGHT OTHERS IN AND ARE BOOKING MORE IN. I WAS JUST TELLING CADE WE RECEIVED A CALL FROM THE BRAHMAN ASSOCIATION AND THEY WANT TO BRING CATTLE IN SO I'M LOOKING TO MOVE SOME STUFF AROUND TO SEE

IF WE CAN ACCOMMODATE THEM. >> CHUCK, DO YOU HAVE ANYTHING?

>> I'M GOOD >> THANK YOU, GENTLEMEN.

>> YEP. ALL RIGHT.

[00:25:08]

YOU HEARD FROM EACH OF THE PARTIES.

WHAT'S THE THOUGHTS OF THE BOARD? I WILL OPEN IT UP FOR DISCUSSION?

>> THAT MADE IT EASIER THAN PREVIOUS YEARS.

>> THERE WILL BE SOMETHING NEXT YEAR IN YOUR GOODY BASKET.

>> I'M SUPPORTIVE OF THE 52-48 SPLIT THIS YEAR AND THE ADJUSTMENT OF ONE-HALF AND ONE-HALF THE FOLLOWING 2 YEARS.

>> IS THAT YOUR MOTION? >> IT IS MY MOTION.

>> I WILL SECOND YOUR MOTION. >> WE'RE JUST TALKING ABOUT FOR

THIS YEAR, RIGHT? >> YEAH, THAT'S WHAT I WANT TO

CLARIFY. >> ALL RIGHT.

GOOD. ANY OTHER COMMENTS? OKAY. THERE BEING NO OTHER CAMPEDS, I WILL CALL THE VOTE, PLEASE INDICATE BY STATING AYE.

>> AYE. >> OPPOSED SAY NO.

THAT MOTION CARRIES. OKAY.

WE'LL NOW TO ITEM NUMBER FIVE, DISCUSS AND POSSIBLE ACTION REGARDING THE ALLOCATION OF THE 2% VENN EYE TAX.

JUST TOOK CARE OF THAT. >> JOHNNY WANTS TO DO IT AGAIN.

>> [INDISCERNIBLE] IS ROLLING OVER IN HIS GRAVE.

HEY, DO THAT AGAIN, TAKE ANOTHER EITHER.

[LAUGHTER] AND MAYOR, I'M JUST GOING TO TAKE A MOMENT AND TAKE MY HAT OFF TO YOU FOR THE WORK YOU HAVE DONE AND Y'ALL, TOO. I DON'T WANT ANYONE TO MISUNDERSTAND HOW DIFFICULT IT WAS TO REACH THIS PLACE AND EVERYBODY'S HEART WAS IN THE RIGHT PLACE AND WE FIGHT ALL THE TIME UP HERE OVER LITTLE PERCENTAGES BUT IT'S BECAUSE WE ARE SO COMMITTED TO WHO IT IS WE REPRESENT AND THE PUBLIC NEEDS TO KNOW AND UNDERSTAND THAT. I HOPE THEY DO, BUT IT LOOKED LIKE WE WERE ARGUING OVER PENNIES BUT WE'RE NOT, THERE'S A LOT INVOLVED IN THIS. IT HAS A LONG HISTORY AND SO I'M JUST ALWAYS PLEASED WHEN WE CAN REACH A POINT OF WHAT LOOKS LIKE EQUITY SO I THINK THERE'S A LOT OF PEOPLE WHO HAVE WORKED ON THIS TRYING TO GET IT HERE, SO, JEFF, I WANT TO THANK YOU AND ROCHELLE. IF THERE WAS EVER ANY DOUBT THAT YOU GUYS CAN'T WORK TOGETHER. LET IT BE PUT TO REST NOW.

YOU AND YOUR BOARDS, SO THANK YOU AGAIN.

[6. Review and accept the 2020 Audit Report from BKD CPAs & Advisors.]

ALL RIGHT, ITEM NUMBER SIX, REVIEW AND ACCEPT THE 2020 AUDIT REPORT FROM BKD CPA AND ADD VIEDERS.

WE'LL LET YOU TAKE OVER, SIR. >> YES, SIR.

BKD DID THE AUDIT LAST YEAR. IN YOUR PACKET YOU WILL SEE THEIR OPINION ON PAGES ONE THROUGH THREE SAYING THEY REVIEWED IT IN CONJUNCTION WITH THE CITY'S AUDIT AND THE FINANCIAL INFORMATION IS PRESENTED FAIRLY IN RELATION TO THAT. IF YOU SKIP OVER TO PAGE 74 OF THAT PACKET, IT SHOWS THE BALANCE SHEET OF THE VENUE DISTRICT FOR 2020. THERE WERE 168,264 TOTAL ASSETS COMPRISED OF $99,186 OF CASH AND THERE WERE $65,284 ACCOUNTING PAYABLE LEAVING $102,980. THE STATE REVENUE'S EXPENDITURES OF THE YEAR. $821,716 TOTAL REVENUE, A 21% DECLINE FROM THE 2019 NUMBERS. AND, OF COURSE, WE DISTRIBUTED OUT 846,000. SLIGHTLY OVER $25,000 DEFICIT AND THAT'S BECAUSE OF THE ACCRUAL METHOD OF ACCOUNTING FOR THE AUDIT WHERE THEY RECORD HOTEL MOTEL RECEIVABLES WHERE WE PAY OUT CASH COLLECTED IN THAT MANNER.

AND FINALLY, THEY PRESENT THE DEBT SERVICE SCHEDULE FOR THE REVENUE BONDS. YOU'LL SEE BEGINNING WITH 2022 THERE WILL BE THE FINAL DEBT SERVICE THAT'S DUE IN THE YEAR 2024. I WOULD BE HAPPY TO ANSWER ANY

QUESTIONS. >> ANY QUESTIONS FOR MR. RAINS?

>> 2 WORDS I DELIGHT IN ARE CLEAN AUDIT.

>> ABSOLUTELY. >> THANK YOU FOR YOUR WORK, SIR.

>> THANK YOU. >> IS THERE A MOTION?

>> SO MOVED. >> THANK YOU, AND IS THERE A

SECOND TO THAT MOTION? >> SECOND.

>> OKAY. THANK YOU.

WE'LL CALL THE VOTE THEN IF THERE'S NO DISCUSSIION INDICATE

SAYING AYE. >> AYE.

>> ALL OPPOSED SAY NO. AND THE MOTION CARRIES.

[7. Review and approve the revised budget for FY 2020-2021 and the proposed budget for FY 2021-2022.]

ITEM NUMBER 7, REVIEW AND APPROVE THE READVISED BUDGET FOR

[00:30:02]

FY 2020-2021 AND THE PROPOSED BUDGET FOR FY 2021-2022.

GO AHEAD, MR. RAINS. >> IN YOUR PACKET WE HAVE A READVISED BUDGET. WE UPPED OUR ORIGINAL NUMBER TO $923,000 TO $965 THEW. WE THINK WITH.

WE THINK, WE THINK0 WE THINK00 WE THINK WE THINK. WE THINK5.

WE THINK WITH T0. WE THINK WITH T0.

WE THINK WITH T0. WE THINK WITH THE IMPROVED 6789.

ECONOMY, WE THINK WE CAN COLLECT MORE.

THERE'S BEEN A TREMENDOUS RESURGENCE OF COLLECTIONS.

WHETHER OR NOT THAT CONTINUES, WE HOPE IT DOES BUT THAT'S DIFFICULT TO PREDICT. MARCH'S COLLECTIONS, SOME OF THE HOTELS WILL SKIP A MONTH OF PAYMENTS AND DOUBLE UP THE NINTH MONTH WHICH AFFECTS OUR COMPARE SOON.

WE FELT LIKE MARCH WAS BECAUSE OF THAT.

APRIL, MAY, AND JUNE, WE FELT LIKE THOSE WERE INCREASES.

>> FOR JUNE, THAT WOULD BE FOR MAY OCCUPANCY?

>> THEY PAY IT TO US IN JUNE AND WE DISTRIBUTE IT IN JULY FOR MAY OCCUPANCY. SO THE COLLECTION WILLS SHOW UP IN JUNE AND THE CHECKS WILL GO OUT IN JULY.

>> SO THE JULY NUMBERS WILL BE FOR JUNE OCCUPANCY.

I THINK YOU'RE GOING TO HAVE ANOTHER TREMENDOUS MONTH.

>> WE HAVE NOT SEEN THE NUMBERS YET BUT IT'S VERY POSSIBLE BASED

ON THAT TREND. >> JUST BASED ON JEFF, WHAT HE WAS SAYING ABOUT HIS STORE SALES AND WE HAVE SEEN IT IN OUR STORE. WE HAVE HAD THE BEST SUMMER MONTHS WE HAVE EVER HAD. PEOPLE ARE GETTING OUT AND SPENDING MONEY AND LET'S HOPE THEY CONTINUE TO BE ABLE TO DO THAT, UNLESS WE HAVE ANOTHER HORRIBLE THING HAPPEN, WE SHOULD

BE ABLE TO MEET YOUR NUMBER. >> WE COULD VERY WELL SURPASS THAT NUMBER, YES, SIR. THE PROPOSED NUMBERS WE INCREASE THAT HAD TO $1,020,000. THAT'S BETWEEN OUR 2018 AND 2019 COLLECTIONS. 18$18 WAS A MILLION 12 THOUSAND AND 19 WAS A MILLION 18 THOUSAND.

DEAD SERVICE WENT UP SLIGHTLY FOR 2022 AND THOSE ALLOCATIONS THERE FOR FRONTIER TEXAS AND EXPO CENTER ARE BASED OFF THE CURRENT ONES AND WE'LL ADJUST THOSE TO WHAT WAS JUST APPROVED AND THE ADMINISTRATIVE FEE OF 2%.

THE INTEREST IN SYNCING FUND, AGAIN, HAS GONE UP FOR 2022 JUST SLIGHTLY ABOUT $400 OR $500. I WILL POINT OUT IN THAT READVISED NUMBER, THAT SAYS $104,100, THAT DIDN'T GET UPDATED. WE'LL CORRECT THAT ALSO.

>> ALL RIGHT. ANY QUESTIONS OF MR. RAINS? ALL ALL RIGHT. THANK YOU VERY MUCH.

IT'S $104,900? >> YES, SIR. >> ALL RIGHT.

WE'LL CALL FOR A MOTION. >> I MOVE THAT WE ACCEPT THE PROPOSED 2020 -- DE YEAR ARE WE

DOING? THE 21-22 BUDGET. >> ALL RIGHT.

AND IS THERE A SECOND? >> SECOND. >> WE HAVE A MOTION AND A SECOND. DID YOU NEED A SEPARATE MOTION TO APPROVE THE READVISED BUDGET?

>> YOU CAN APPROVE THEM BOTH IN ONE MOTION. >> OKAY.

I WILL AMEND MY MOTION TO INCLUDE THAT. >> WHO SECONDED THAT?

KYLE, WILL YOU ACCEPT THAT AMENDMENT? >> YES.

>> ALL RIGHT, WE'LL CALL THE VOTE. IN FAVOR SAY AYE.

ALL OPPOSED SAY NO. MOTION CARRIES. ALL RIGHT, IS THERE A MOTION WE ADJOURN? TAKE CARE OF THE BUSINESS. I DON'T KNOW WHAT TO DO

* This transcript was compiled from uncorrected Closed Captioning.

Aug 04, 2021 Venue Board Meeting

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