On the agenda

1. 1Call to Order - Roll Call▶ 0:00
2. 2

   Approval of August 11, 2020 and August 19, 2020 Meeting Minutes

   approved

   The CRA Board approved the meeting minutes from August 11, 2020 and August 19, 2020.

   • motion:Approve the August 11, 2020 and August 19, 2020 meeting minutes. (passed)

   ▶ Jump to 0:21 in the video

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   [00:00:21] Thank you. [00:00:21] Next item on the agenda is approval [00:00:22] of the August 11th and August 19th meeting minutes. [00:00:26] For approval. [00:00:28] Second. [00:00:29] The maker. [00:00:30] Second. [00:00:31] Discussion? [00:00:32] Hearing none, all those in favor, [00:00:34] please signify by saying aye. [00:00:36] Aye. [00:00:36] Opposed, like sign.

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

3. 3

   Memorandum of Understanding with New Port Richey Main Street, Inc.

   approved

   The CRA Board considered a Memorandum of Understanding with New Port Richey Main Street, Inc., increasing the city's annual appropriation from $15,000 to $25,000 in support of the National Main Street Program's four-point approach. The motion was made and seconded with favorable comments about Main Street's direction.

   • motion:Motion to approve the Memorandum of Understanding with New Port Richey Main Street, Inc. providing a $25,000 appropriation. (passed)

   🏢National Main Street Program🏢New Port Richey Main Street, Inc.#$25,000 appropriation to Main Street#National Main Street Program four-point approach

   ▶ Jump to 0:38 in the video

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   [00:00:38] Next item, memorandum of understanding [00:00:40] with New Port Richey Main Street, Inc. [00:00:43] This agenda item is related [00:00:47] to the National Main Street Program. [00:00:51] We have New Port Richey Main Street Program [00:00:54] operating under the four-point program [00:00:57] of the National Main Street Program. [00:01:02] They have, in the past, [00:01:06] received a $15,000 appropriation from the city [00:01:09] to support some of their expenses. [00:01:13] They are due to raise expenditures themselves [00:01:16] to support their program's expenses. [00:01:21] This year, we're recommending an appropriation [00:01:24] in the amount of $25,000. [00:01:28] The Main Street Program is due to submit reports [00:01:31] to the city of their subcommittee communications [00:01:37] as evidence of the importance of the four-point approach [00:01:43] and to memorialize the terms of our agreement. [00:01:49] We're recommending that you approve [00:01:51] the amount of $25,000, [00:01:54] which is what we discussed in our CRA meetings [00:02:00] back in August. [00:02:02] Thank you. [00:02:03] Open up for public comment. [00:02:04] I do believe we've got some Main Street representatives [00:02:06] in the audience. [00:02:11] Seeing no one come forward, [00:02:13] I'll bring it back to the CRA board. [00:02:15] Move for approval. [00:02:17] Second. [00:02:18] The maker. [00:02:18] I just think that the direction that Main Street's going [00:02:22] and the direction the Chamber's going, [00:02:24] we're gonna see a lot of good things come out of Main Street. [00:02:26] Very good. [00:02:28] To second. [00:02:29] I think big things will be happening with Main Street [00:02:32] as soon as we get through this COVID.

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

4. 4

   ↳You arrived here from a search for “Peter Altman” — transcript expanded below

   Main Street Landing Agreement Addendum No. 3

   approved

   The CRA Board approved Addendum No. 3 to the Main Street Landing Agreement, which splits a $737,500 incentive payment owed to the McGurns (owners of the Main Street Landings project) into two equal installments of $368,750 due September 30, 2021 and September 30, 2022, with 2% interest. The split was requested to give the CRA more flexibility to support additional programs. Two citizens spoke during public comment expressing concern about the ongoing costs of the project.

   • motion:Approve Main Street Landing Agreement Addendum No. 3, splitting the $737,500 incentive payment into two installments with 2% interest. (passed)4–0

   📍5500 Reeve Adele Place, number 339, Newport Ritchie, Florida, 34652📍5614 Red Snapper Court, Newport, Ritchie, Florida, 34652🏢Kaiser University🏢Main Street Landings👤Bill Phillips👤Dan Holbeck👤Director Altman👤Director Starkey👤McGurns👤Mr. Foster#CRA incentive payment ($737,500)#Central#Kaiser University#Main Street Landing Agreement Addendum No. 3

   ▶ Jump to 2:34 in the video

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   [00:02:35] Director Starkey. [00:02:36] I agree with both of your comments. [00:02:37] Director Altman. [00:02:39] Yes, I'll support the motion, [00:02:41] but I'd also, well, I'll wait till the end [00:02:44] for communication. [00:02:45] I have something to say. [00:02:46] Yeah. [00:02:47] Okay, in that case, all those in favor, [00:02:49] please signify by saying aye. [00:02:50] Aye. [00:02:51] Opposed, like sign. [00:02:53] Motion passes. [00:02:54] Main Street Landing Agreement, addendum number three. [00:02:59] The McGurns, who are the owners [00:03:02] of the Main Street Landings project, [00:03:05] were due an incentive payment from the city [00:03:09] related to the project back in September of 2021 [00:03:17] in the amount of $737,500. [00:03:24] I approached the McGurns and they agreed [00:03:29] to split that payment over two years [00:03:32] so that $368,750 is due September 30th, 2021, [00:03:42] and the same amount is due September 30th of 2022. [00:03:47] The reason that I asked for their consideration [00:03:52] is related to the fact that we needed [00:03:54] some more flexibility in the CRA [00:03:56] to support some of the additional programs, [00:04:00] and they were agreeable to do so. [00:04:03] There is a payment of 2% interest [00:04:07] that is paid on the amount we owe. [00:04:10] Open it up for public comment. [00:04:22] Bill Phillips, 5500 Reeve Adele Place, number 339, [00:04:30] New Port Richey, Florida, 34652. [00:04:33] I recognize that you needed to extend this debt [00:04:39] that we owe them because of all the moving parts, [00:04:43] and I respect that, but this is a project [00:04:47] that just keeps on giving, and I think [00:04:51] that you should have looked at delaying [00:04:53] some of your others to get this obligation paid. [00:04:57] I have questions about the agreement, [00:04:59] specifically, does the money travel [00:05:02] with the property if it's sold? [00:05:04] I'm assuming it does. [00:05:06] It doesn't speak to that. [00:05:09] Obviously, they met their requirements [00:05:14] because to me, by extending it out, [00:05:16] it delays other projects that are gonna be [00:05:19] coming down the pipe, and obviously, [00:05:21] you've had other money to do other projects, [00:05:23] so that being the case, and is the agreement assignable, [00:05:28] you know, there's a whole series [00:05:30] of real estate deal elements with this [00:05:35] because if I was in McGurns once I got this [00:05:38] to a certain point, I'd like to get my money [00:05:41] and move on down the road, possibly. [00:05:43] You know, this is two more years out. [00:05:45] You're carrying the debt. [00:05:47] I also would have liked to have seen [00:05:49] another agenda item on your CRA [00:05:54] that would take one step further than just this agreement, [00:05:58] just to give a clear understanding [00:05:59] because people don't stay with the budget [00:06:02] and know everything is on a five-year plan, [00:06:04] but I would love to know what other obligations [00:06:06] the city has, like with rights, [00:06:09] Main Street landings, you say there's no others, [00:06:12] the Central, Kaiser University, [00:06:14] those elements play today and they play in the future. [00:06:18] I would like to get this debt and this project [00:06:21] closed out as a citizen so that you can have [00:06:25] that freed up money when the economy turns, [00:06:28] but I recognize the unknown that's out there today, [00:06:32] the information that Mr. Foster gave you, [00:06:35] but again, I just want to make sure [00:06:39] that there isn't a situation down the road [00:06:42] that it's kind of musical chairs, music stops, [00:06:46] the money's owed, and we got to do a lot of other things [00:06:49] as a city, especially when it comes to the millage [00:06:53] and other things that need to be collected. [00:06:55] Thank you, sir. [00:06:56] Thank you, Mr. Phelps. [00:06:57] Anyone else? [00:07:13] Thanks for your time. [00:07:15] I'm Dan Holbeck. [00:07:17] I live at 5614 Red Snapper Court, [00:07:19] New Port Richey, Florida, 34652. [00:07:23] I've spoke before briefly. [00:07:25] I know this is, again, one of these legacy projects, [00:07:29] but this is one of the examples [00:07:31] and it's the continuing costs that are just amazing to me, [00:07:37] and I think, you know, as it relates to future debt [00:07:44] with taxpayers and so on, I just hope that the CRA [00:07:48] is a little more mindful of things in the future. [00:07:51] I know, again, I know it was previous groups and so on, [00:07:55] but this is a lot of money and a lot of stuff [00:07:59] that should really not be continuing at this point, [00:08:03] especially this stage, late in the game [00:08:05] of that development over there. [00:08:07] Anyway, I appreciate your time. [00:08:08] Thanks. [00:08:09] And I echo what Mr. Phillips said. [00:08:11] Thank you very much. [00:08:12] Anyone else? [00:08:15] Seeing no one else, I'll close public comment [00:08:18] and bring it back to the board for approval. [00:08:23] Second. [00:08:24] To the maker. [00:08:25] Second. [00:08:28] Councilman Starkey? [00:08:29] No comments. [00:08:30] If I may, I would like to suggest [00:08:35] that I'm going to abstain from voting. [00:08:42] I don't have any vested interest in the company, [00:08:44] but I do have an employment sort of relationship there, [00:08:49] so I'll stay out of it, but I would like [00:08:51] to make a few comments, if I could, about it. [00:08:54] Probably don't want to if you're going to abstain. [00:08:56] Yeah, why not? [00:08:58] He can comment on it, even though he's abstaining. [00:09:02] Yeah, I mean, and I've not spoken [00:09:06] to the owners about it, either, [00:09:07] so this is just me talking to you [00:09:09] from the role that I'm in. [00:09:10] Does that mean you only get three minutes? [00:09:12] Just kidding. [00:09:13] Yeah, go ahead, start the clock. [00:09:15] Hey, I've been pretty good to you. [00:09:16] Yeah, no, I'm just kidding. [00:09:18] I'm kidding. [00:09:20] So, just thinking, if there's a 2% interest, [00:09:25] it's still 2%. [00:09:26] The funds for the CRA come in in mass [00:09:29] in November, December, so if we're moving this to another, [00:09:34] if you're going to move the rest of it to another year, [00:09:37] you save 1% of what's remaining [00:09:40] by paying them off in January, February, [00:09:43] so I'm assuming there's an early payment opportunity [00:09:46] from the city, but if the city has the money [00:09:48] and it wants to save the interest, [00:09:50] no reason to drag it on once you've got it in the bank, [00:09:55] is my thinking. [00:09:57] Now, I don't know if that's in the agreement or not, [00:09:59] but September 30th is the last day of the fiscal year. [00:10:03] You're making a payment, I guess, [00:10:04] to them in the next couple of weeks, I'm assuming. [00:10:07] And we do have an early payment provision. [00:10:09] Okay, so that was the one thing that I was going to mention, [00:10:13] and then I'll save any other comments [00:10:16] related to that for my communication. [00:10:20] Very good, thank you. [00:10:23] Any further discussion? [00:10:25] Hearing none, all those in favor, [00:10:26] please signify by saying aye. [00:10:28] Aye. Aye. [00:10:30] Opposed? [00:10:31] We have four to nothing with one abstention. [00:10:37] So, oh, my paper's out.

   This text was generated automatically from the meeting video. It is not a verbatim or official record. For exact wording, consult the video or the city clerk.

5. 5Adjournment▶ 10:40