[1. Call to order and establishment of a quorum] [00:00:03] THE BOARD OF TRUSTEES OF THE LAMAR CONSOLIDATED INDEPENDENT SCHOOL DISTRICT IS CALLED TO ORDER AT 5:30 P.M.. THIS IS A SPECIAL CALL BOARD MEETING BEING HELD ON SEPTEMBER 10TH, 2026. WE HAVE A QUORUM WITH ALL MEMBERS PRESENT. AND AT THIS TIME, WE WILL HEAR PRESENTATIONS ON THE INFORMATION ITEMS. [4.A. Discussion of Tesla JETI Application] ALL RIGHT. THANK YOU, MADAM PRESIDENT. THANK YOU, EVERYONE FOR JOINING US TONIGHT. I WILL TURN IT OVER TO MR. BUCHANAN, OUR CFO, TO KICK US OFF FOR THE EVENING. GOOD EVENING, BOARD OF TRUSTEES AND DOCTOR EVANS. TONIGHT, TESLA AND CROW WILL BE GIVING US A PRESENTATION ON THEIR JT APPLICATION. AND DAVID DENNISON WITH CROW WILL BE THE FIRST ONE TO COME UP. AND HE WILL START HIS PRESENTATION AND INTRODUCE HIS TEAM. ALL RIGHT. I HOPE YOU DON'T MIND IF I READ A COUPLE THINGS OFF OF MY COMPUTER WHILE I'M DOING THIS PRESENTATION. GOOD EVENING, BOARD OF TRUSTEES. SUPERINTENDENT EVANS AND MEMBERS OF THE COMMUNITY. THANK YOU FOR YOUR TIME AND THE TIME THAT YOU'VE GIVEN TO UNDERSTAND THE JETTY PROJECT APPLICATION. THIS BOARD BRINGS EXPERIENCE IN EDUCATION, FINANCE, WORKFORCE TRAINING, OPERATIONS, BUSINESS AND COMMUNITY SERVICE. THOSE PERSPECTIVES MATTER AS YOU CONSIDER A PROJECT THAT COULD AFFECT STUDENTS, FAMILIES, TAXPAYERS AND THE FUTURE OF THIS AREA. TONIGHT IS ABOUT A PROPOSED PROJECT CALLED CRYSTAL SUN, A JETTY APPLICATION BEFORE LAMAR C ISD. THE PROJECT WOULD ALLOW WOULD WOULD BE AN ADVANCED MANUFACTURING FACILITY. IT COULD BRING A LARGE INVESTMENT, NEW JOBS AND ADDED TAXABLE VALUE TO THE COMMUNITY. BUT TESLA HAS NOT MADE A FINAL SITE DECISION, AND MANY DETAILS WOULD BE DEVELOPED ONLY IF FORT BEND IS SELECTED. OUR GOAL IS TO EXPLAIN THE OPPORTUNITY AND THE SAFEGUARDS IN PLAIN LANGUAGE. WE WILL SEPARATE ESTIMATES FROM COMMITMENTS, AND WE WILL BE CLEAR ABOUT WHAT DOES AND DOES NOT DO. AT THE END, WE WILL ASK THE BOARD TO APPROVE THE APPLICATION AND AUTHORIZE THE NEXT STEP NEEDED TO KEEP THE PROJECT TIMELINE MOVING. SO REAL QUICK, WE'VE GOT SEVERAL PEOPLE HERE, BOTH WITH KROLL AND WITH TESLA. TESLA REPRESENTATIVES DISCUSSED WILL DISCUSS THE PROPOSED FACILITY WORKFORCE EXAMPLES, EARLY PLANNING FOR WATER SAFETY, LIGHTING AND ENVIRONMENTAL PERFORMANCE. KROLL WILL EXPLAIN THE SITE SELECTION PROCESS AND TAX ANALYSIS. LAMAR C ISD WILL EXPLAIN ITS OWN FINANCIAL REVIEW. RICKY AND ERICK STRICKLAND REPRESENT TESLA. MICHAEL LATOUR AND I ARE WITH KROLL. KROLL IS A PROFESSIONAL SERVICES FIRM THAT ASSISTS TESLA WITH SITE SELECTION AND TAX ANALYSIS. OUR ROLE IS TO HELP EXPLAIN WHY JEDI DECISION CAN MATTER IN A LARGE SITE SELECTION DECISION. THROUGHOUT TONIGHT, WE'LL KEEP THE FACTS, ESTIMATES, FUTURE DECISIONS SEPARATE. THE FINAL AGREEMENT PERMITS, APPRAISALS, DECISIONS AND DETAILED ENGINEERING WILL COME LATER IF THE SITE IS SELECTED. JEDI IS THE MAIN TOPIC TONIGHT, SO JEDI STANDS FOR TEXAS JOBS, ENERGY, TECHNOLOGY AND INNOVATION. I BELIEVE THAT THIS PROJECT MEETS THE DEFINITION OF EACH OF THESE WORDS. UNIQUELY. THE TEXAS LEGISLATURE CREATED THE PROGRAM IN 2023 TO ENCOURAGE MAJOR INVESTMENT AND JOB CREATION IN TEXAS. IT IS A STATE CREATED PROCESS. THE SCHOOL DISTRICT AND THE COMPANY DO NOT INDEPENDENTLY NEGOTIATE OR REWRITE THE BASIC TERMS OF THE LAW. FOR AN APPROVED PROJECT, JEDI CAN LIMIT THE VALUE USED TO CALCULATE ONE PART OF THE SCHOOL TAX BILL FOR A SET PERIOD. IN RETURN, THE PROJECT WOULD MEET STATE AND AGREEMENT REQUIREMENTS, PROVIDE REPORTS AND PERFORMANCE BOND. THE AGREEMENT WOULD STATE THE REQUIREMENT, INVESTMENT, JOBS AND CONDITIONS, AND IT WOULD PROVIDE A WAY TO CHECK PERFORMANCE. SUCCESSFUL ECONOMIC DEVELOPMENT CAN CREATE JOBS, SUPPORT LOCAL BUSINESSES AND ADD TAXABLE VALUE THAT HELP COMMUNITY MEET FUTURE NEEDS. THOSE BENEFITS WOULD DEPEND ON THE PROJECT BEING BUILT AND MEETING ITS COMMITMENTS. JETTY IS DESIGNED TO PAIR THAT OPPORTUNITY WITH PUBLIC REVIEW, REPORTING AND ACCOUNTABILITY. SO THE JETTY HAS SEVERAL CHECKPOINTS, A DETAILED STATE APPLICATION AND REVIEW PROCESS. THE COMPTROLLER'S OFFICE DOES MORE THAN RECEIVE AN APPLICATION. IT DECIDES WHETHER THE APPLICATION IS COMPLETE AND REVIEWS THE INFORMATION NEEDED TO MAKE THE LEGAL FINDINGS. THAT INCLUDES WHETHER ACTIVITY IS ELIGIBLE, WHETHER THE PROJECT IS EXPECTED TO CREATE ENOUGH LONG TERM TAX VALUE, [00:05:01] AND WHETHER WHETHER THE JETTY IS A MEANINGFUL FACTOR IN THE COMPETITIVE SITE SELECTION DECISION. FOR THIS APPLICATION, THE COMPTROLLER HAS POSTED A RECOMMENDATION FOR J 0050, WHICH IS BETWEEN LAMAR C ISD AND TESLA ON AUGUST 31ST, 2026. THAT IS AN IMPORTANT STATE REVIEW MILESTONE AND IS WHY THE APPLICATION IS IN FRONT OF YOU TODAY. THE RECOMMENDATION DOES NOT SELECT THE SITE OR APPROVE THE FINAL AGREEMENT. LAMAR C ISD STILL NEEDS TO MAKE ITS DECISION, AND THE GOVERNOR'S OFFICE HAS A SEPARATE ROLE UNDER STATE PROCESS. STATE PROCESS ALSO SETS THE TAX RULES SHOWN HERE FOR TEN YEARS FROM 2031 THROUGH 2040. JETTY WOULD LIMIT THE VALUE USED FOR TAXES ON APPROVED PROPERTY. IT WOULD NOT LIMIT INS TAXES. THE NEXT SLIDE EXPLAINS THE DIFFERENCE BETWEEN THOSE TWO. SCHOOL TAXES HAVE TWO PARTS. IMINO MEANS MAINTENANCE AND OPERATIONS. IT HELPS PAY FOR DAILY NEEDS SUCH AS TEACHERS, STAFFS, BUSSES, SUPPLIES AND UTILITIES. INS MEANS INTEREST IN SINKING. IT HELPS PAY. IT HELPS REPAY VOTER APPROVED BONDS FOR NEW AND EXISTING BUILDINGS, REPAIRS AND OTHER CAPITAL NEEDS. JETTY WOULD AFFECT THE PROJECTS IMINO SIDE ONLY FOR A LIMITED TIME. IT COULD LOWER THE TAXABLE VALUE USED FOR TAXES ON APPROVED NEW PROPERTY. IT WOULD NOT ERASE ALL SCHOOL TAXES. IT WOULD NOT APPLY TO PROPERTY THAT DOES NOT QUALIFY UNDER LAW OR IN THE FINAL AGREEMENT. INS TAXES WOULD CONTINUE TO BE ON THE FULL VALUE OF THE PROJECT. JETTY CAN BE MEANINGFUL BECAUSE PROPERTY TAXES ARE PART OF THE PROJECT'S LONG TERM COSTS, BUT TAXES ARE NOT THE ONLY FACTOR IN THE COMPANY'S SITE SELECTION DECISION. TAXES ARE ONE PART OF THE DECISION, NOT THE WHOLE DECISION. TESLA WOULD LOOK AT HOW QUICKLY IT COULD BUILD, WHETHER LAND IS READY, HOW LONG PERMITS MAY TAKE, AND WHEN THE POWER AND WATER COULD BE AVAILABLE. IT WOULD ALSO LOOK AT THE WORKFORCE, FREIGHT ROUTES, ROADS, COMMUNITY FIT AND THE COST TO OPERATE THE FACILITY. A LOCATION CAN HAVE STRENGTHS IN ONE AREA AND CHALLENGES IN ANOTHER. FOR EXAMPLE, LAND OR WORKFORCE MAY BE ATTRACTIVE, BUT OPERATING COSTS AND TIMING MAY BE LESS FAVORABLE. TESLA WOULD WEIGH THE FULL PICTURE BEFORE DECIDING WHERE TO LOCATE THE PROJECT. FORT BEND IS BEING EVALUATED ALONG A VERY ALONGSIDE A VERY OTHER, STRONG OTHER CANDIDATE. TESLA IS NOT AND CANNOT ASK LAMAR CISD FOR LAND, INFRASTRUCTURE OR ANY FINANCIAL HELP BEYOND THE JETTY AGREEMENT. THE JETTY IS THE ONLY THING BEING ASKED OF THE SCHOOL DISTRICT RIGHT NOW. OTHER PROJECT NEEDS WOULD BE ADDRESSED BY TESLA AND THE APPROPRIATE PUBLIC OR PRIVATE PARTIES. JETTY IS RESULTS BASED. IT'S A PERFORMANCE BASED AGREEMENT. JETTY IS NOT JUST BASED ON AN ANNOUNCEMENT. BEFORE AN AGREEMENT IS SIGNED, THE PROJECT WOULD NEED TO SHOW THAT IT IS PART OF A REAL SITE SELECTION COMPETITION, COMPLETE THE STATE AND DISTRICT REVIEW PROCESS AND PROVIDE A PERFORMANCE BOND. THESE STEPS ARE MEANT TO CONFIRM THAT THE PROJECT IS SERIOUS AND THAT THE TAXPAYERS HAVE PROTECTION. IF AN AGREEMENT IS APPROVED, THE COMPANY WOULD REPORT ON INVESTMENT APPROVED PROPERTY REQUIRED JOBS AND WAGES. THE CONTROLLER, THE DISTRICT AND THE GOVERNOR'S OFFICE WOULD RECEIVE INFORMATION NEEDED TO CHECK WHETHER THE PROJECT IS MEETING ITS GOALS OR NOT. IF THE COMPANY MISSED A REQUIREMENT, THE AGREEMENT WOULD DEFINE THE ISSUE. NOTICE A CHANCE TO CURE WHEN APPROPRIATE AND POSSIBLE PENALTIES OR PAYBACK WHEN JETTY ENDS, NORMAL APPRAISED VALUE WOULD CONTINUE ON THE PROPERTY, ON ON THE PROPERTY AND WOULD REMAIN ON THE TAX BASE. SO A BIT ABOUT THE PROJECT. PROJECT CRYSTAL SUN WOULD BE A SOLAR MANUFACTURING FACILITY. IT WOULD MAKE SOLAR CELLS AND OTHER KEY BUILDING BLOCKS TO USE IN SOLAR PANELS. AND I FEEL LIKE THIS IS IMPORTANT TO SAY IN THIS DAY AND AGE. IT IS NOT A DATA CENTER. IT IS AN ADVANCED MANUFACTURING FACILITY. THE PROPOSED OPERATION CAN ADVANCE MANUFACTURING TECHNOLOGY, SUPPLY CHAIN ACTIVITY AND LOCAL SPENDING IN THE REGION. THE CURRENT GOOD FAITH ESTIMATES INCLUDE ABOUT $10.1 BILLION OF INVESTMENT. THAT SPENDING IS ON LAND, LAND IMPROVEMENTS, BUILDINGS AND TAXABLE EQUIPMENT. THOSE GOOD FAITH ESTIMATES ALSO INCLUDE 9712 JOBS AT FULL OPERATIONS, WITH AN ESTIMATED $1.3 BILLION IN YEARLY SALARY FOR DIRECT AND RELATED JOBS. CONSTRUCTION COULD BEGIN IN LATE 2026. THEY COULD START MAKING PRODUCTS IN 2029 AND POSSIBLY A FULL RAMP UP BY 2033. [00:10:06] THESE ARE BEST FAITH ESTIMATES AT THIS TIME, NOT FINAL PROMISES. THE FINAL SITE HAS NOT BEEN SELECTED. IF FORT BEND IS SELECTED, THE FINAL AGREEMENT WOULD STATE THE REQUIRED LEVELS OF INVESTMENTS AND JOBS. OKAY. WHERE IS THE SITE? THE MAP SHOWS AWESOME POINT. AWESOME POINT. IS THE PROPOSED SITE ONLY A PORTION OF IT. SO AUSTIN POINT IS NEAR FM 1994 AND FM 762. IT IS NOT THE FINAL SITE PLAN WHICH YOU SEE HERE IN PINK. IT IS NOT THE FINAL BUILDING FOOTPRINT OR FINAL DESIGN FOR ROADS, UTILITIES, PARKING AND OTHER IMPROVEMENTS. THE SHADED AREA THAT YOU SEE HERE IS ABOUT 3000 ACRES. TESLA WOULD NOT BUY ALL OF THAT AREA. IF FORT BEND IS SELECTED, TESLA WOULD BUY PARTS OF EXISTING PARCELS TOTALING ABOUT 1600 ACRES. THAT DISTINCTION MATTERS BECAUSE WHAT WE SEE HERE IS ABOUT 3000 ACRES, AND THEY'RE ONLY GOING TO BUY A SMALLER PORTION OF SOME OF THESE PARCELS. WE DO ESTIMATE THAT DON CARTER ELEMENTARY IS ABOUT FOUR MILES FROM THE CLOSEST PROJECT PARCEL. AND JUST TO REITERATE, IF THE SITE IS SELECTED, ENGINEERING PERMITS DETAILED DESIGN WOULD STILL FOLLOW. THE COMMUNITY WOULD HAVE MORE OPPORTUNITIES TO REVIEW INFORMATION AS THOSE LATER PLANS DEVELOP. BEFORE WE GET TO THE NUMBERS, I DO WANT TO EXPLAIN THE DIFFERENCE BETWEEN INVESTMENT AND TAXABLE VALUE. TAXABLE VALUE IS A MAJOR PART OF CALCULATING TAXES, ESPECIALLY WITH REGARD TO GT. THE 10.1 BILLION ESTIMATED SPENDING FIGURE IS NOT THE SAME AS THE VALUE USED TO CALCULATE TAXES. SPENDING COULD INCLUDE LAND, BUILDINGS AND EQUIPMENT OVER SEVERAL YEARS. TAXABLE VALUE WOULD BE DETERMINED THROUGH THE APPRAISAL PROCESS BASED ON WHAT HAS BEEN BUILT, WHAT'S IN SERVICE AND WHAT IS TAXABLE UNDER TEXAS LAW. THE PROCESS IS NOT SPECIAL TO THIS PROJECT. HOMES AND BUSINESSES IN YOUR COMMUNITY ALL RECEIVE CERTIFIED APPRAISED VALUES FROM FORT BEND CENTRAL APPRAISAL DISTRICT VIA THE SAME PROCESS. SOME PROPERTY MIGHT NOT QUALIFY FOR ANY TREATMENT. EQUIPMENT CAN LOSE VALUE OVER TIME, AND LAND AND OTHER ASSETS CAN BE TREATED DIFFERENTLY FROM MACHINERY AND EQUIPMENT. THAT IS WHY THE PROJECT COULD HAVE A MUCH LARGER CONSTRUCTION BUDGET AND A MUCH SMALLER TAXABLE VALUE. THE CURRENT MODEL AND OUR CURRENT ESTIMATES SUGGEST THAT THE HIGHEST FULL INS TAXABLE VALUES AROUND 3.9 BILLION AND SOMEWHERE NEAR THE YEAR 2030, THE FORT BEND CENTRAL APPRAISAL DISTRICT WOULD SET THE FINAL VALUE EACH YEAR. THIS IS WHY FINANCIAL ANALYZES USED IN THIS PRESENTATION AND IN OUR APPLICATIONS ARE RANGES. INSTEAD OF TREATING THE PLANNED SPENDING FIGURE AS FINAL TAX BASE. THIS CHART SHOWS ESTIMATED TAXES THAT COULD BE PAID AND THE ESTIMATED VALUE THAT COULD BE EXEMPT UNDER JEDI. THE GRAY MAN EXEMPTION WOULD APPLY FOR TEN YEARS FROM 2031 THROUGH 2040. THE CHART COVERS 2028 THROUGH 2040, SHOWING CONSTRUCTION, THE START OF OPERATIONS AND THE LIMITED PERIOD. UNDER THE CURRENT ESTIMATE, THE PROJECT WOULD PAY ABOUT $316 MILLION IN COMBINED INS AND TAXES DURING THESE YEARS ABOUT 212 MILLION WOULD BE INS TAXES. ABOUT 104 MILLION WOULD BE NO TAXES, AND ABOUT 104 MILLION WOULD BE VALUE LIMITED SAVINGS TO TO THE COMPANY. SO HOW DOES THAT WORK WITH WITH M AND M? THIS SLIDE EXPLAINS THE M AND O IN SIMPLE TERMS. TESLA WOULD PAY ITS M AND OWE TAXES ON THE LIMITED PROJECT VALUE UNDER A JETTY. THE SCHOOL FINANCE FORMULA WOULD CONTRIBUTE THE M AND O REVENUE AFFECTED BY THE JETTY LIMITATION. IT IS TOGETHER, TESLA'S PAYMENT AND THE STATE CONTRIBUTION ARE HOW LAMAR SEE ISD WOULD CONTINUE TO RECEIVE ITS REVENUE FROM THE PROJECT. I AND S OBVIOUSLY WOULD WORK DIFFERENTLY. IT IS FULLY TAXABLE. THEY ALWAYS PAY THOSE DOLLARS. I THINK THE CENTRAL POINT IS THAT THE STATE FORMULA IS INTENDED TO KEEP THE DISTRICT WHOLE ON O REVENUE AFFECTED BY THE LIMITATION, WHILE INS REMAINS ON FULL VALUE. THE DISTRICT HAS ALSO COMPLETED ITS OWN ANALYSIS OF THE NUMBERS, AND I'D LIKE TO GO AHEAD AND HAND THAT OVER TO MR. BUCHANAN. THANK YOU SIR. SO, BOARD, WE HIRED MOAK AND CASEY TO BE ABLE TO CREATE A FINANCIAL MODEL, TO BE ABLE TO LOOK AT ALL THE DATA THAT WAS BOTH PROVIDED BY CROW AND TESLA. SO I KNOW MR. JENSEN ALSO COVERED THIS, BUT WE SHOULD GO MORE IN DEPTH. [00:15:03] HOW MUCH OF THE REVENUE WOULD LAMAR RECEIVE WITH THE AGREEMENT VERSUS WITHOUT IT? SO WITH THE AGREEMENT, WE RECEIVE ROUGHLY $89,000 OVER A 16 YEAR PERIOD, MORE THAN WE WOULD WITHOUT IT. SO ROUGHLY $5,562 IS ALL WE RECEIVE ON THE MAINTENANCE AND OPERATIONS SIDE TO GO TO OUR GENERAL FUND. SO HOW DOES THE STATE SCHOOL FINANCE FORMULA AFFECT LAMAR REVENUE FROM THE PROJECT? THE STATE FUNDING WOULD INCREASE TO OFFSET THE REDUCTION IN TAXES. SO THE STATE MAKES UP THE LOSS. SO IF IT'S AT 50% AND THAT'S WHAT THE GOVERNOR DECIDES TO THE AGREEMENT. IF IT QUALIFIES FOR THE 5,050% REDUCTION, THE STATE GOVERNMENT MAKES UP THAT 50%. SO WE GET MADE WHOLE. EITHER WAY, TESLA WOULD PAY THEIR HALF, THE STATE WOULD PAY THEIR HALF. THAT MAKES US WHOLE. ON THE NO SIDE. SO WE WOULD LOSE ZERO MAINTENANCE AND OPERATION REVENUE IF WE WERE TO APPROVE THIS AGREEMENT. HOW MUCH ADDITIONAL REVENUE IN THE PROJECT EXPECTS TO GENERATE, AND WHAT EFFECT COULD THAT HAVE ON THE TAX RATE OR DEBT CAPACITY? SO RIGHT NOW THROUGH 20 2063, WE'RE ESTIMATING $335.5 MILLION IN ADDITIONAL REVENUE TO BE ABLE TO PAY OUR BONDED DEBT. IT COULD IT WOULD ALSO PROVIDE AN ESTIMATE OF $180.3 MILLION IN ADDITIONAL BONDING CAPACITY WITHOUT INCREASING THE TAX RATE. SO WHEN WE WE TALK ABOUT GOING OUT FOR BONDS THAT ARE GROWTH, PROPERTY VALUE HAS GROWN. SO WE DON'T HAVE TO INCREASE OUR TAX RATE. WHAT THIS ALLOWS US TO DO IS GO OUT FOR ANOTHER $180 MILLION JUST ON THIS PROJECT ALONE, NOT OTHER FACTORS. WE GO OUT FOR ANOTHER $180 MILLION WORTH OF BONDED DEBT, AND WE WOULD NOT HAVE TO INCREASE OUR TAX RATE, SO WE WOULD CARRY THAT MUCH WEIGHT. BEING ABLE TO GO OUT. AND THEN COULD THE JETTY PROJECT AGREEMENT CAUSE HOMEOWNER PROPERTY TAXES TO INCREASE OR DECREASE? THE TESLA PROJECT WILL NOT INCREASE YOUR TAXES. SO WHETHER THE PROJECT IS HERE OR WHETHER IT'S NOT YOUR PROPERTY TAXES WOULD INCREASE BASED ON YOUR PROPERTY VALUE. SO IF YOUR PROPERTY VALUE GOES UP OR YOUR PROPERTY GOES DOWN, THAT'S WHAT AFFECTS YOUR TAXES, NOT THIS PROJECT. AND I WILL TURN IT OVER TO MR. DENNISON. THANK YOU, MR. BUCHANAN. SO NEXT WE'VE GOT SOME COMPANY REPRESENTATIVES THAT ARE GOING TO COME UP AND TALK ABOUT WORKFORCE. TALK A LITTLE BIT ABOUT THE FACILITY AND THE DESIGN. SO I'M REALLY HAPPY TO GET RICKY BAZ UP HERE FOR WORKFORCE. THANK YOU DAVID. HELLO, EVERYONE. THANK YOU FOR HAVING US. MY NAME IS RICKY. I LEAD THE WORKFORCE DEVELOPMENT TEAM FOR TESLA. TODAY WHAT I WANT TO HIGHLIGHT IS WHEN TESLA DOES DECIDE TO HAVE A SITE AND MAKE A SITE SELECTION, WE DO THINK ABOUT THE WORKFORCE AVAILABILITY. AND I WANT TO SHARE WHAT WE'VE DONE REALLY GREAT SUCCESSFUL STORIES IN DEL VALLEY, TRAVIS COUNTY, WHERE OUR GIGAFACTORY IN TEXAS IS. WE START WITH THE K THROUGH 12. SO WE CLOSELY PARTNER WITH ALL LOCAL ISD'S. NAMELY, I WANT TO CALL OUT DEL VALLEY, WHO'S RIGHT IN OUR BACKYARD. WE BRING CTE CLASSES TO LEARN ABOUT MANUFACTURING, LEARN ABOUT ENGINEERING HEAR FROM OUR LEADERS AND REALLY GALVANIZE AROUND THE MANUFACTURING SPACE TO BUILD A PATHWAY WHERE LATER FURTHER INTEGRATED WITH COLLEGE PARTNERS. SO WE WORK CLOSELY WITH AUSTIN COMMUNITY COLLEGE, UT AT AUSTIN AND TEXAS STATE TECHNICAL COLLEGE AS WELL TO BUILD OUT SPECIFIC TESLA PATHWAY LEARNINGS AND APPRENTICESHIPS AND INTERNSHIPS. SO WHEN WE THINK ABOUT STRATEGY, WE THINK AT THE K THROUGH 12 LEVEL. FOR THOSE WANTING TO JOIN THE WORKFORCE IMMEDIATELY FOR THE COMMUNITY COLLEGE LEVEL TECHNICIANS AND SKILLED TRADE APPRENTICESHIPS, AND THEN AT THE UNIVERSITY LEVEL FOR PROFESSIONAL INTERNSHIPS AS WELL. AND THEN THAT ALL WILL ADD UP TO OUR BROADER WORKFORCE DEVELOPMENT STRATEGY. THESE PROGRAMS THAT WE STAND UP, I'M GOING TO TALK ABOUT TWO, WHICH IS THE MANUFACTURING DEVELOPMENT PROGRAM, MDP AND START. WE ACTUALLY TAKE GRADUATING HIGH SCHOOL SENIORS, PUT THEM THROUGH CURRICULUM AT OCC OR TEXAS STATE TECHNICAL COLLEGE OR OTHER PARTNERS THROUGHOUT THE COUNTRY. WE PAY FOR THEM TO BE IN THE PROGRAM TO REMOVE ANY FINANCIAL BARRIERS WHERE THEY CAN JUST FOCUS, HEAD DOWN ON THE CURRICULUM. THEN WE DO PROVIDE A FULL TIME CONVERSION POST OFFER. SOME OF THESE ROLES ARE GOING TO BE OUR ENTRY LEVEL DEVELOPMENT PROGRAMS. BUT SOME ARE ALSO SKILLED, SUCH AS OUR START MANUFACTURING, WHICH IS AN ACCELERATED PATHWAY FOR EQUIPMENT PROCESS QUALITY TECHNICIANS THAT ARE ALL CRITICAL TO MANUFACTURING OPERATIONS. LASTLY, I WANT TO JUST TALK ABOUT WHERE WE STARTED WHEN WE STARTED THIS PROGRAM ABOUT FOUR YEARS AGO WITH WITH DELVALLE, WE HAD A MODERATE MODEST 30% COHORT. WE'VE NOW GRADUATED OVER 144 GRADUATES SPECIFICALLY FROM DEL VALLEY WHO HAVE JOINED THIS PROGRAM. AND THEN THIS YEAR, WE ARE NOW OPERATING AT SCALE WITH OVER 1500 STUDENTS GRADUATING THE PROGRAM. [00:20:07] AGAIN, THIS IS A SUBSET OF OUR WORKFORCE, BUT DOING ALL OF THE K THROUGH 12 OUTREACH IS REALLY, REALLY IMPORTANT. AND AGAIN, DEL VALLEY IS THE, THE PRIME EXAMPLE BEYOND THE JOBS AND THE PATHWAYS, WE ALSO INVEST IN OUR SCHOOL DISTRICTS. SO OVER THE PAST COUPLE OF YEARS, WE'VE BEEN DONATING FOR TEACHER SALARIES, AS WELL AS IF PHYSICAL EQUIPMENT TOTALING CLOSE TO AROUND $1 MILLION A YEAR TO HELP INSTRUCTORS. WE DO TEACHER EXTERNSHIPS WELCOME THEM IN. SO THEY THEY WORK WITH OUR ENGINEERS. THEY KNOW EXACTLY WHAT WE'RE DOING ON THE LINE. AND THEN WE ALLOCATED 600,000 FOR DELL VALLEY ISD TO BUILD A MANUFACTURING LAB FOR THEIR CTE PROGRAMS. AND NOW THEY HAVE A CTE PROGRAM RIGHT IN OUR BACKYARD FOR ADVANCED MANUFACTURING AND CYBERSECURITY. GREAT. NEXT SLIDE PLEASE. OH, SORRY. SO OVERALL THE NUMBER THAT WE'RE TALKING ABOUT HERE IS A 97 100 JOBS. THAT WAS A VERY, VERY COMFORTABLE WORKFORCE NUMBER THAT WE WANTED TO, TO GIVE AT TESLA. WE'RE KNOWN FOR OVER DELIVERING. SO WE'RE GOING TO BE REALLY EXCITED TO BLOW THROUGH THAT NUMBER. BUT THAT WAS WHAT WE WERE REALLY COMFORTABLE WITH. AGAIN, THAT'S GOING TO TOTAL ABOUT 1.3 BILLION IN A YEARLY PAY. ADDITIONALLY, I JUST WANT TO REITERATE HOW WE ATTRACT A WORKFORCE. IT'S LEARNING ABOUT TESLA. IT'S INTEGRATING IN THE COMMUNITY. IT'S BRINGING US TO YOU ALL AND YOU ALL INTO OUR HOMES AND HAVING A REALLY SYMBIOTIC RELATIONSHIP. AND THEN FOR FOLKS TO GO THROUGH INTERNSHIPS AND ALSO PATHWAYS THAT LEAD TO A JOB THAT, YOU KNOW, ARE PAID FOR YOU TO BE TRAINED. AWESOME. WELL, THANK YOU EVERYONE. I JUST WANTED TO SHARE A LITTLE BIT. JUST ONE OTHER INTRODUCTION. IT'S ERICK STRICKLAND AND HE IS ON THE DESIGN TEAM AT TESLA. THANK YOU. GOOD EVENING BOARD. I'M THE PROCESS LEAD FOR PROJECT CRYSTAL SUN. AND I'M HAPPY TO SHARE WITH YOU SOME INFORMATION ABOUT THE DESIGN, PARTICULARLY ON WATER AND CHEMICALS FOR PROJECT CRYSTAL SUN. SO THE WAY I'D LIKE TO BREAK THIS UP. AND BEFORE I GET STARTED, I WANT TO EMPHASIZE THAT WE ARE IN EARLY STAGES OF DESIGN FOR PROJECT CRYSTAL SUN. WITHOUT SITE SELECTION. MANY DECISIONS CANNOT BE FINALIZED, AND THE DESIGN IS AN ONGOING PROCESS WHERE MANY CONCLUSIONS CAN'T BE MADE UNTIL THE DETAILED DESIGN IS COMPLETE. SO I'D LIKE TO BREAK THIS UP INTO THREE SECTIONS. WHAT WE KNOW NOW PRIOR TO SITE SELECTION, WHAT WE'LL START TO DO ONCE SITE IS SELECTED, AND THEN WHAT WE'LL CONTINUE TO DO BEFORE BUILD AND OPERATION AND PLANS THAT WILL BE DEVELOPED GOING INTO BUILD AND OPERATION. SO WHAT WE KNOW NOW IS THAT SOLAR CELL MANUFACTURING IS WATER INTENSIVE. TESLA, HOWEVER, HAS A STRONG REPUTATION FOR WATER CONSERVATION AND IS PLANNING TO RECYCLE NEARLY ALL THE WATER THAT IS PRODUCED BY THE MANUFACTURING PROCESS. THIS SHOULD HELP REDUCE THE WATER DEMAND FROM THE SITE. IN ADDITION, TESLA PLANS ON USING BEST ENGINEERING PRACTICES TO ENSURE CONTAINMENT, SAFE TRANSFER AND OPERATION OF THE HAZARDOUS MATERIALS REQUIRED TO MAKE THESE SOLAR CELLS. THIS IS ESSENTIALLY TESLA COMPLYING WITH FEDERAL, LOCAL, STATE, ENVIRONMENTAL BUILDING CODES AND LEGAL REQUIREMENTS FOR FACTORIES OF THIS TYPE. AFTER SITE SELECTION, TESLA IS GOING TO EVALUATE WATER SUPPLY. GROUNDWATER IS ONE OF THE OPTIONS AVAILABLE FOR WATER SUPPLY TO THIS SITE. TESLA IS AWARE THAT GROUNDWATER HAS A SUBSIDENCE RISK. SO IN ADDITION TO GROUNDWATER, LOOKING AT MANY OTHER SOURCES OF WATER. SO WE HAVE A GOOD MIX OF WATER TO SUPPLY THIS SITE AND SATISFY ITS WATER DEMAND. COOLING IS AN IMPORTANT ASPECT OF THIS SITE. WE ARE EVALUATING DIFFERENT OPTIONS FOR COOLING TECHNOLOGIES THAT YOU'RE PROBABLY ALL FAMILIAR WITH. THERE ARE TWO REALLY DRY PRIMARY TECHNOLOGIES FOR COOLING. THERE'S EVAPORATIVE COOLING AND THERE'S ELECTRIC DRIVEN COOLING. EVAPORATIVE COOLING YOU MAY HAVE SEEN ON LARGER COMMERCIAL FACILITIES IN THE FORM OF A COOLING TOWER AND ELECTRIC DRIVEN COOLING IS VERY COMMON IN YOUR HOME. IT'S BASICALLY YOUR HVAC UNIT. SO WE'RE OPTIMIZING BETWEEN THOSE TWO OPTIONS RIGHT NOW TO ALSO, AGAIN, INFLUENCE THE WATER DEMAND AND DRIVE IT DOWN AS MUCH AS WE CAN. ONCE DESIGN IS UNDERWAY, TESLA WILL DEVELOP EMERGENCY RESPONSE PLANS, SAFE HANDLING PLANS AGAIN IN CONFORMANCE WITH FEDERAL, STATE AND LOCAL REGULATIONS. THESE INCLUDE EXAMPLES OF. THESE INCLUDE BUILDING CODE, AIR PERMITTING, SAFETY COMPLIANCE, CONTAINMENT PROTOCOLS, FIRE PROTECTION. [00:25:07] FINALLY, TESLA WILL WORK WITH THE COUNTY, AND I KNOW THE COUNTY HAS REQUIREMENTS FOR LIGHTING, SO THAT WOULD BE A GOOD EXAMPLE OF HOW TESLA WILL WORK WITH THE COUNTY ON SPECIAL REQUIREMENTS AROUND LIGHTING AND OTHER PROVISIONS THAT THE COUNTY HAS REQUIREMENTS FOR. IN ADDITION TO FEDERAL AND STATE REGULATIONS. TO CONCLUDE, I JUST WANTED TO HIGHLIGHT THE ACCOLADES THAT I MENTIONED EARLIER THAT TESLA HAS RECEIVED IN WATER CONSERVATION AT ITS GIGAFACTORY TEXAS FACILITY. TESLA HAS WON A 2026 AWARD FOR WATER PROTECTION TREATMENT AND IS, IN ADDITION, THE TRUE GOLD AWARD AT ITS FACTORY IN FREMONT. THERE ARE ALSO AWARDS THAT TESLA HAS WARNED ITS GIGAFACTORY BERLIN FOR ENVIRONMENTAL MANAGEMENT AS WELL. THANK YOU. APPRECIATE YOUR TIME. THANKS. SO THIS IS THIS IS THE LAST SLIDE. SO THIS WOULD BE ONE OF THE THE LARGEST ADVANCED MANUFACTURING FACILITIES AND ECONOMIC DEVELOPMENT PROJECTS IN HISTORY. THEY'RE GETTING BIGGER EVERY DAY. BUT ON THE TIMELINE THAT THIS IS GOING TO BE BUILT THIS WOULD BE ONE OF THE LARGEST IN NATIONAL HISTORY. SO IT WOULD BE A VERY HUGE OPPORTUNITY FOR A COMMUNITY. SO I THINK TONIGHT WHAT WE'RE ASKING FOR YOU TO DO IS TO CONSIDER THE PROJECT, THE OPPORTUNITIES IT WOULD PROVIDE FOR YOUR GRADUATING STUDENTS. OPPORTUNITIES FOR FOLKS TO STAY CLOSER TO FORT BEND WHEN THEY, WHEN THEY LEAVE HIGH SCHOOL, WHEN THEY LEAVE COLLEGE. AND SO ON THE 15TH, I KNOW YOU ALL HAVE A BIG DECISION TO MAKE. I'M VERY HAPPY TO BE HERE FOR THAT DECISION, BUT WE'RE ASKING FOR YOUR APPROVAL. SECONDLY, WE'RE ASKING THAT BECAUSE OF THE PROJECT TIMELINE AND THE DECISIONS THEY HAVE TO MAKE THAT YOU ALLOW DOCTOR NIVENS TO SIGN THE FINAL AGREEMENT WITHOUT ANOTHER BOARD MEETING. WE'VE SEEN SCHOOLS DO THAT, YOU KNOW, BEFORE, BUT IT'S REALLY GOING TO BE IMPACTFUL TO THEIR TIMELINE BECAUSE THEY'VE GOT A LOT OF DECISIONS TO MAKE BEFORE THE END OF THE YEAR. SO I APPRECIATE YOUR TIME AND THANK YOU. THANK YOU, MR. DENNISON. WE'RE GOING TO OPEN IT UP TO QUESTIONS FOR FROM TRUSTEES NOW. TRUSTEES, I'M SURE YOU HAVE A LOT OF QUESTIONS. SO IN ORDER TO MAKE SURE EVERYBODY GETS HEARD, WE'LL JUST TAKE THEM ONE AT A TIME. IF YOU HAVE A FOLLOW UP QUESTION. ASK IT WHILE YOU HAVE THE FLOOR, BUT LET'S TRY TO LET EVERYBODY HAVE A TURN. DOES ANYBODY WANT TO GO FIRST? GO AHEAD. TRUSTEE WELCH I'LL JUMP OUT THERE IN THE DEEP. THERE'S A LOT OF QUESTIONS. AND THE PUBLIC IS IS VERY INTERESTED IN THIS IN THIS TOPIC, AS YOU ALL KNOW. THANKS FOR CONSIDERING FORT BEND AND LAMAR SEE ISD. FIRST OF ALL, I'M HAPPY TO BE PART OF THIS PROCESS TO THE LIMITED EXTENT THAT I AM. I WANT TO ASK A QUESTION OR TWO BASED UPON WHAT THE FEEDBACK THAT I'M GETTING FROM THE PUBLIC THAT I THINK THE PUBLIC WANTS TO UNDERSTAND. AND THE FIRST IS, THE MOST BASIC IS WHY WOULD A COMPANY LIKE TESLA, A VERY SUCCESSFUL WORLDWIDE COMPANY, NEED A JETTY AGREEMENT TO, TO GO FORWARD? THAT'S A, THAT'S A WARRANTED QUESTION. TESLA IS A PUBLICLY TRADED COMPANY. SO IT IS NOT A DECISION THAT THEY MAKE BECAUSE THEY HAVE A LOT OF MONEY. THEY MAKE DECISIONS BASED ON SHAREHOLDERS. WHEN THEY'RE EVALUATING MULTIPLE DIFFERENT SITES OPERATING LONG TERM OPERATING COSTS. THAT'S A LARGE FACTOR. AND WE HAVE A COMPETING SITE THAT HAS DRIVEN THAT DOWN PRETTY LOW. SO IT'S VERY IMPORTANT THAT WHEN THEY MAKE A SITE SELECTION DECISION THAT THEY CAN VALIDATE THE ECONOMICS AND THE FISCAL REVIEW THAT THEY PUT INTO THE SITE SELECTION DECISION. HAS TESLA BUILT ANYTHING IN TEXAS WITH THE JETTY AGREEMENT ALREADY? NO. BUT THEY'VE BUILT THINGS ON ITS PREDECESSOR. CHAPTER 313. YEAH, I UNDERSTAND THE JETTY IS A FAIRLY NEW TOOL USED BY THE LEGISLATURE TO TO ATTRACT MANUFACTURING AND INNOVATION. [00:30:09] WELL, I'LL SEE THE FLOOR FOR A MOMENT IF ANYBODY ELSE NEEDS. GEORGE. YOU'RE WELCOME. YOU HAPPY TO GO? THIS QUESTION IS GOING TO BE DIRECTED TO OUR CHIEF FINANCIAL OFFICER. MR. BUCHANAN, I THINK YOU'VE ALREADY SPOKE TO THIS ISSUE. I JUST WANT TO EXPOUND ON IT. WILL THIS PROJECT, IN YOUR PROFESSIONAL OPINION, ENABLE US TO DIVERSIFY OUR TAX BASE? AND IF SO, WHAT ARE THE BENEFITS OF DIVERSIFYING OUR TAX BASE IN RELATION TO HOMEOWNERS PROPERTY TAXES? SO I WOULD JUST LIKE TO REMIND THE BOARD IS CURRENTLY RIGHT NOW, IF WE BUILD A HOME, IT HAS THE OPPORTUNITY TO HAVE STUDENTS IN THAT HOME VERSUS IF WE HAVE A COMMERCIAL PIECE OF PROPERTY, IT CREATES TAXABLE VALUE FOR US TO BE ABLE TO LEVERAGE TO PAY OUR BONDS, BUT DOES NOT BRING STUDENTS WITH IT. AS FAR AS THE, THE, THE BUSINESS AS ITSELF GOES RIGHT. SO THE MORE BUSINESSES THAT YOU HAVE, THE MORE THEY CARRY THE BONDED DEBT FOR OUR BUILDINGS THAN OUR LOCAL HOMEOWNERS DO. SO IF I UNDERSTAND YOU CORRECTLY, THEN THAT WOULD CREATE AN ENVIRONMENT WHERE WE COULD AFFORD TO KEEP THE TAX RATE THE SAME OR LOWER FOR OUR HOMEOWNERS. THAT IS CORRECT. AND STILL PROVIDE BUILDINGS AND NECESSITIES THAT WE NEED FOR OUR STUDENTS. THANK YOU. YES. SO TESLA PROJECTS A $10.1 BILLION INVESTMENT. CORRECT. BUT THE FINANCIAL ANALYSIS SHOWS A PEAK TAXABLE VALUE OF 3.94. I BELIEVE YOU TALKED ABOUT THIS IN YOUR PRESENTATION. SO THERE'S ROUGHLY A $6.2 BILLION DIFFERENCE. CAN YOU TALK ABOUT THAT DIFFERENCE? SO IF WE'RE WE'RE SAYING WE'RE GOING TO ANTICIPATE 10.1, BUT THEN THE PEAK IS 3.94. CAN WE WHERE'S THAT GAP? YEAH, ABSOLUTELY. SO TO PUT A FACILITY ON, YOU'VE GOT TO BUY LAND. YOU'VE GOT TO ENGINEER IT, YOU'VE GOT TO DESIGN IT. YOU NEED TO EMPLOY PEOPLE TO BUILD IT. LABOR, DESIGN, ENGINEERING, THE IP THAT GOES INTO THE FACILITY SOFTWARE. THAT'S ALL NONTAXABLE IN TEXAS. SO IT COSTS A LOT TO PUT A BUILDING ON THE TAX ROLLS. AND I THINK VERY SIMPLY PUT YOU KNOW, LOOK AT INDUSTRIAL BUILDINGS AROUND TEXAS AND VALUE THEM ON A PER SQUARE FOOT PRICE. AND YOU'LL SEE, I THINK OUR TAXABLE VALUE IS QUITE IN LINE WITH, WITH THAT. YEAH. AND WE TALKED ABOUT, I BELIEVE YOU MENTIONED IN YOUR PRESENTATION THE 9700 JOBS. AND THEN I THINK YOU SAID THAT ONCE THE SITE IS SELECTED, THAT NUMBER OF ACTUAL JOBS WILL BE RELEASED, CORRECT? WELL, THERE WILL BE A RAMP UP TIME, RIGHT? LIKE YOU CAN'T JUST YOU CAN'T JUST HIRE RIGHT AWAY. AND AND THERE'LL BE 9700 JOBS. AND YOU KNOW, THERE WILL BE CHALLENGES WITH THAT. AND WHEREVER THEY LOCATE THIS OR ANOTHER STATE THEY WILL BE LEANING ON THE SCHOOL DISTRICT IN ORDER TO GET THE TALENT THAT THEY NEED TO OPERATE A FACILITY THIS LARGE. AND JUST TO PUT THAT 9700 NUMBER IN PERSPECTIVE THE ECONOMIC BENEFIT SUMMARY FOR THE JETTY APPLICATION, IT'S AVAILABLE TO THE PUBLIC. IT'S ABOUT A 15 OR 20 PAGE REPORT TALKING ABOUT THE IMPACTS NOT JUST FROM THE COMPANY, BUT ALSO RIPPLE EFFECTS THROUGH THE ECONOMY. THAT 9700 JOBS AND LET ME BACK THAT BACK UP. THAT EBS WAS PUBLISHED BY THE KROLL TEAM. WE ALSO HAD AN INDEPENDENT FIRM IMPACT DATA SOURCE, VERY TRUSTED TEXAS FIRM COME IN AND TAKE A LOOK FOR SOMETHING WE'RE DOING WITH THE GOVERNOR'S OFFICE. THE INDIRECT AND INDUCED JOBS SO SUPPLIERS AND THEN INDUCED THE WIDER ECONOMY BANKERS, GROCERS, FIREFIGHTERS, POLICEMEN, PROFESSIONAL SERVICES. IT'S 9700 JOBS PLUS ANYWHERE BETWEEN 13,000 AND ANOTHER 35,000 BETWEEN THESE TWO REPORTS THAT ARE NECESSARY TO SUPPORT HOW LARGE AN OPERATION THIS IS OPERATING IN THE COMMUNITY. SO WE'RE ANTICIPATING 9700 TESLA EMPLOYEES. YES. SO FULL, FULL LIKE FTES, FULL TIME EMPLOYEES, 9700. CORRECT? CORRECT. OKAY. PERFECT. OKAY. REGARDING THE POWER PORTION OF THE SITE I ASSUME THAT, YOU KNOW, A LOT OF TRANSMISSION, ALL THE STUFF IS ALREADY GROUNDWORK BECAUSE WHEN AUSTIN POINT WAS SET UP, WE ANTICIPATED IT BEING A NEIGHBORHOOD AND RETAIL DEVELOPMENT, ALL THAT. AND I KNOW YOU MENTIONED DATA CENTERS EARLY. A LOT OF TIMES DATA CENTERS HAVE TO BE A POWER BEHIND THEM, [00:35:05] THE METER KIND OF PROCESS WHERE, YOU KNOW, THEY'RE PRODUCING THEIR OWN ELECTRICITY, ALL THAT WITH THIS SITE. HOW MUCH OF IT OR HAS THERE BEEN THOUGHT IN BEHIND THE POWER BEHIND THE METER PORTION OF IT? THAT'S STILL ONGOING. WE HAVEN'T GOTTEN THAT FAR YET. OKAY. HAS THE THERE ARE OBVIOUSLY THERE'S BEEN DILIGENCE ALREADY DONE THAT, THAT LOCATION AND WHAT'S ALREADY RENTED, THAT LOCATION OR CENTER POINT CONVERSATIONS THAT THEY CAN LIKE KEEP UP WITH THE DEMANDS OF THAT BUILDING. WE HAVE INITIATED CONVERSATIONS WITH CENTER POINT, BUT WE'RE STILL IN THE PROCESS OF DETERMINING GETTING POWER TO THE SITE. OKAY. WHEN THAT WOULD OCCUR, IF I CAN POWER IS A COMPLICATING FACTOR, WHETHER IT'S BEHIND THE METER OR CONNECTING TO THE GRID. THE GOVERNOR HAS ISSUED SOME PROCESSES BATCH ZERO, THE AUDIT OCCURRING WITH BATCH ZERO? MAINLY IT'S TO TRY TO CURB THE, THE DATA CENTER APPETITE AND TRY TO FIGURE OUT WHAT'S A REAL PROJECT, WHAT'S NOT. BUT IT'S REALLY A SHOTGUN APPROACH A LITTLE BIT. AND MANUFACTURING HAS GOTTEN CAUGHT UP IN THAT. SO ENERGY IS, IS KIND OF A CONCERN AT THIS SITE. WHERE IN THE OTHER STATE THAT THAT STATE IS A NET EXPORTER OF ENERGY. SO AGAIN, MORE REASONS WHY AS MUCH PARTNERSHIP AS WE CAN POSSIBLY GET FROM THE STATE AND LOCAL GOVERNMENTS, IT'S REALLY IMPORTANT TO PROP THE SITE UP BECAUSE IT DOES HAVE SOME CHALLENGES. OKAY. I THINK THAT'S IT FOR ME RIGHT NOW. OKAY. MY QUESTION IS SIMPLE. WHY WAS THIS SITE SELECTED? YEAH, ABSOLUTELY. IT'S GOT THE INFRASTRUCTURE. IT'S GOT THE INGREDIENTS. IT'S GOT THE WORKFORCE NECESSARY. IT'S BEEN SHORTLISTED. I'M SURE THEY CONDUCTED A VERY LARGE SITE SELECTION SEARCH TO BEGIN WITH. EVERYTHING IS A FUNNEL. AND SO WE'RE DOWN AT THE VERY BOTTOM OF THE FUNNEL REALLY EVALUATING VERY SPECIFIC THINGS WITH EACH ONE OF THESE SITES. BUT SO FAR IT HAS EXHIBITED THE RIGHT UTILITY CAPACITIES, THE RIGHT WORKFORCE, THE RIGHT ECOSYSTEM TO SUPPORT AN OPERATING FACILITY LIKE THIS. BUT IT HAS CHALLENGES AND WE'RE WORKING THOSE CHALLENGES AGAINST THE CHALLENGES AT THE OTHER SITE TO TRY TO SEE WHERE THIS PROJECT WOULD BE MOST SUCCESSFUL. YOU MENTIONED THE INFRASTRUCTURE IS THERE. THAT AREA IS TWO LANE COUNTY ROADS. I KNOW SOMETIMES WHEN WE'RE ASKED TO BUILD SCHOOLS, WE HAVE TO BUILD OUR OWN ROADS AND WE HAVE TO BUILD LIKE, YOU KNOW, WE JUST OPENED TOMAS AND WE BUILT THE ROADS AND ALL THAT STUFF. WILL THIS PROJECT REQUIRE. LET'S BUILD IT AND THEN HOPE THE COUNTY SHOWS UP AND HOPE TXDOT SHOWS UP TO BUILD THE ROADS. IS IT LIKE IF WE BUILD IT, THEY WILL COME? OR IS YOU MENTIONED INFRASTRUCTURE, BUT THAT AREA THERE IS TWO LANES AND A DITCH. YEAH. SO SO WHAT I WILL SAY AND WHAT WE'RE PRETTY AFFIRMATIVE ON RIGHT NOW IS THAT TESLA IS GOING TO BE INVESTING IN THEIR OWN INFRASTRUCTURE. THEY'RE NOT ASKING THE COUNTY GOVERNMENT FOR MASSIVE INFRASTRUCTURE NEEDS. I THINK THERE'S A TOLL ROAD THAT'S GOING TO BE MOVED THAT HASN'T BEEN BUILT YET. BUT OBVIOUSLY IT'S A VERY RURAL PART OF THE COUNTY, RIGHT? LIKE THERE'S NOTHING TO THE EAST, THERE'S NOTHING TO THE WEST. THERE'S, YOU KNOW, A FEW HOUSES TO THE NORTH, BUT THEN TO THE SOUTH IS A SOLAR FARM. SO INFRASTRUCTURE WILL HAVE TO GET OUT THERE. AND THAT'S, YOU KNOW, THAT'S A CHALLENGE FOR THE SITE. A FEW THINGS. SO JUST FOR THE SAKE OF THE PUBLIC TO REITERATE SOME THINGS, THIS IS NOT ANY KIND OF EMINENT DOMAIN PROPOSAL BY THE SCHOOL DISTRICT OR ANYBODY ELSE TO PROTECT LAND. THIS IS ALREADY LAND OWNED BY A DEVELOPER. SO FARMERS AND THOSE FOLKS HAVE ALREADY SOLD TO A DEVELOPER. AND IF THIS PROJECT DOESN'T GO FORWARD, THEY'LL BE EITHER HOMES BUILT OR SOMETHING ELSE. IS THAT ACCURATE AS FAR AS YOU UNDERSTAND? YES. IT'S A LIKE MULTI MIXED DEVELOPMENT. IT WILL BE SOMETHING ELSE INDUSTRIAL MAYBE NOT ON THIS SCALE, MAYBE NOT WITH THESE OPPORTUNITIES. BUT IT WILL BE MORE HOMES, MORE COMMERCIAL, MORE INDUSTRIAL. AND AS AS FAR AS OUR DECISION AS A BODY NEXT TUESDAY NIGHT, WE'RE NOT SAYING YES TO THE PROJECT. WE'RE SAYING, CORRECT ME IF I'M WRONG. WE'RE SAYING YES, THE PROJECT CAN GO FORWARD WITH NEGOTIATIONS WITH THE GOVERNOR'S OFFICE. IS THAT CORRECT? NO. YOU'RE APPROVING THE PROJECT FOR A JETTY APPLICATION. AND WHAT THAT MEANS IS THAT THE SCHOOL BOARD IS WILLING TO ENTER INTO CONTRACT WITH TESLA. TESLA WILL PERFORM ON THE CONTRACT STIPULATIONS AND. AND FOR SUCH, THEY WILL RECEIVE AN NO TAX BREAK FOR A VERY SHORT AMOUNT OF TIME. [00:40:08] DOES ARE YOU GOING TO SAY SOMETHING BECAUSE I, I THINK I KNOW WHAT YOU'RE THINKING IS THAT WE ALL WERE THINKING THAT ON THE 15TH WE WERE CONTINUING THE AGREEMENT AND CONTINUING THE CONVERSATION, NOT VOTING YES OR NO. YES. YOU'RE VOTING YES OR NO. STATE LAW MANDATES THAT AS SOON AS THE COMPTROLLER HAS RECOMMENDED AN APPLICATION, YOU'VE GOT 30 DAYS TO ACT AND TO EITHER APPROVE OR DENY THE APPLICATION. SO WHAT HAPPENS AFTER? LET'S ASSUME THIS BODY APPROVES IT. WHAT HAPPENS AFTER THAT? BEFORE DIRT IS MOVED? CERTAINLY. SO THE COMPTROLLER HAS MADE THEIR RECOMMENDATION. WE ARE HOPING AND ASKING FOR YOUR APPROVAL. IF THAT IS GRANTED, IT THEN GOES TO THE GOVERNOR'S OFFICE. THE GOVERNOR'S OFFICE DOES THEIR REVIEW, AND THEN THEY WILL BE THE ONES TO DRAW UP THE CONTRACT, WHICH IS A TEMPLATED CONTRACT. IT CANNOT BE CHANGED. IT IS SET FORTH IN STATUTE. AT THAT POINT IN TIME, THE GOVERNOR'S OFFICE WILL COME BACK TO THE COMPANY AND THE SCHOOL AND ALL THREE PARTIES WOULD SIGN THAT AGREEMENT. TECHNICALLY, THOUGH, SINCE THE COMPTROLLER APPROVED IT ON AUGUST 31ST, I BELIEVE WE WOULD HAVE UNTIL SEPTEMBER 30TH. OR WHAT WOULD THAT BE? OCTOBER 1ST TO APPROVE? YES. PERHAPS I WOULD ASK YOUR LEGAL COUNSEL IF THAT CAN BE DONE IN A SPECIAL MEETING, BECAUSE I'M NOT SURE THAT IT CAN. OKAY. WELL, I WANT TO CONGRATULATE YOU FOR DOING WHAT NO ONE ELSE HAS BEEN ABLE TO DO IN UNITING OUR COUNTY COMMISSIONERS COURT. WASN'T EASY. SO WITH THAT IN MIND, IT'S MY UNDERSTANDING THAT OUR COUNTY COMMISSIONERS COURT, THE COUNTY FORT BEND COUNTY COMMISSIONERS COURT HAS APPROVED A REINVESTMENT ZONE FOR THIS PROJECT. YES, SIR. OKAY. WAS THAT A REQUIREMENT FOR THE JETTY? YES. YEAH. IT IS A REQUIREMENT. IF THE COUNTY HAD NOT, WE COULD HAVE ASKED ONE FROM YOU. YOU CAN ALSO ESTABLISH A REINVESTMENT ZONE ONLY FOR THE PURPOSES OF JETTY. BUT THE COUNTY COMMISSION HAS SHOWN FANTASTIC SUPPORT FOR THE PROJECT. AND YES, APPROVED AN RPZ FOR IT. AND THAT IS ACTUALLY YOU NEED AN RPZ BEFORE YOU CAN HAVE A JETTY. SO IT'S PART OF THE CONTRACT. SO I'LL ASK YOU HOW FANTASTIC WAS THAT SUPPORT. WAS IT UNANIMOUS. IT WAS UNANIMOUS. OKAY. ONE ABSTENTION. ALL RIGHT. THANK YOU, I APPRECIATE THAT. YOU SPOKE ABOUT THE WORKFORCE PARTNERSHIPS AND PARTNERING WITH OUR K-12 SCHOOLS. HOW SOON WOULD THOSE RELATIONSHIPS START? BECAUSE WHEN WE LOOK AT THE DOORS OPENING FOR THIS FACTORY, THAT'S FAR IN OUR FUTURE. BUT, YOU KNOW, SO WE COULD GET HIGH SCHOOL KIDS NOW SO EXCITED ABOUT THIS THAT WE'RE VOTING ON THIS NOW. BUT THE REALITY IS THAT'S NOT IN THEIR FUTURE. THERE'S SOME ELEMENTARY KIDS THAT IS IN THEIR FUTURE. HOW SOON WOULD YOU START THAT RELATIONSHIP WITH OUR STUDENTS? JUST GIVING HISTORICALS ON DEL VALLEY. WE WERE IN PARTNERSHIP WITH THEIR TEAM JUST AS WE ARE HERE WITH YOU ALL. AND IT STARTS IMMEDIATELY AFTER. BECAUSE IT TAKES TIME, RIGHT? IT TAKES TIME TO BUILD THOSE PATHWAYS. AND THOUGH WE ALREADY HAVE THE RECIPE AND THE STRUCTURE, IT TAKES TIME TO TRAIN STAFF UP TO UNDERSTAND WHAT OUR PROCESSES ARE GOING TO BE. AND THEN WHAT WE TAKE A STEP FURTHER IS WE LOOK AT WHAT TYPE OF ROLES, AT WHAT VOLUME WE'RE GOING TO BE OPEN, AND THEN THAT DICTATES WHO WE PARTNER WITH. RIGHT? SO EARLY CAREER, LIKE I MENTIONED EARLIER, WE WOULD COME TO THE ISDS. WE WOULD ALSO APPROACH COMMUNITY COLLEGES, TRADE TRAINING CENTERS, VOCATIONAL SCHOOLS AND UNIVERSITIES. SO WHEN YOU SAY THE IMMEDIATE FUTURE, ARE YOU SAYING, I THINK GROUND BREAKS AT THE END OF 2026, WE CAN START A COMMUNITY PARTNERSHIP WITH YOU AND ELSIE ISD IN 2026? YEAH, I WOULD SAY IF WE DECIDE TO MOVE FORWARD WITH THE PROJECT, THEN IT DOES. THE CONVERSATIONS AND ENGAGEMENT WILL HAPPEN WITH FACULTY AND ADMINISTRATION AND THEN FOLLOWED BY THE STUDENTS DIRECTLY. YEAH. THANK YOU. OKAY. SO THERE'S THE JEDI REQUIRES 75 JOBS LEGALLY, AND OBVIOUSLY ALL ARE BLOWING WELL PAST THAT WITH 9700. DOES THE, THE, DOES THE 133,820 WAGE REQUIREMENT, DOES THAT APPLY TO ALL THE JOBS OR ONLY [00:45:07] 75? OUR UNDERSTANDING IS THAT IS A BURDENED WAGE AND APPLIES TO THE ENTIRE FACILITY AND A BURDENED WAGES. WAGE HEALTH BENEFITS OVERTIME SICK PAY TOTAL COMPENSATION. OKAY. SO YOU IT'S FAIR TO SAY THAT WOULD BE THE AVERAGE WAGE FOR ALL 9700 JOBS. YES. COULD BE OKAY. BECAUSE I'M ASSUMING IT PROBABLY WOULD INCLUDE POSSIBLY HIGHLY PAID ENGINEERS AND STUFF THAT WOULD THAT'S PULLING THAT AVERAGE UPWARD LIKELY. YES. YEAH. OKAY. I HAVE A LOT OF QUESTIONS, BUT LET ME SEE. I THINK MY QUESTION MIGHT BE FROM OKC IF THAT'S OKAY. SO IN YOUR SUMMARY YOU'VE HELD ENROLLMENT CONSTANT IN THE FINANCIAL MODEL. BUT LATER IN THE REPORT YOU SAY THAT TESLA IS THE PROJECT IS EXPECTED TO ACCELERATE ENROLLMENT GROWTH. SO HOW SHOULD WE THINK ABOUT THOSE TWO ASSUMPTIONS TOGETHER? I'M NOT A DEMOGRAPHER. I DIDN'T KNOW HOW TO. OTHER NOT KNOWING EXACTLY HOW MANY KIDS WOULD COME WITH 9700 JOBS, IT WAS HARD TO PREDICT. AND SO THAT'S ONE REASON WHY WE HOLD THINGS CONSTANT, KNOWING THAT YOU WILL NEED A DEMOGRAPHIC STUDY. IF THIS THING IF THIS THING MOVES FORWARD. RIGHT. AND THAT WILL THEY'LL BE ABLE TO BETTER TELL. AND I THINK THEY LOOK AT LIKE SUBDIVISIONS GOING IN. AND I LISTEN TO ONE DEMOGRAPHER WHO SAID, WE GET A DRONE UP AND WE SEE WHERE LAND HAS BEEN CLEARED, AND WE TRY TO FIGURE OUT, YOU KNOW, WHAT'S GOING IN THERE. SO IT WAS SOMETHING THAT WAS NOT OUR EXPERTISE, AND I DIDN'T WANT TO ASSUME ANYTHING. THAT'S WHY WE TEND TO HOLD THINGS CONSTANT BECAUSE THINGS CAN CHANGE IN FIVE YEARS. RIGHT. WE'RE LOOKING AT FIVE YEARS FROM NOW BEFORE THEY'RE GOING TO EVEN BE COMMERCIALLY OPERATING. AND SO IT'S HARD TO MAKE ASSUMPTIONS FOR, YOU KNOW, THAT FAR, THAT FAR IN THE FUTURE. OKAY. DOES THAT HELP? YES. AND THEN CAN YOU ALSO EXPLAIN WHAT THE CONTROLLER'S 20 YEAR TEST ESTABLISHES? THEY DECIDE THEY TEST TO SEE IF THE PROJECT WILL BRING IN MORE TAXES THAN YOU GIVE UP. SO THEY WANT TO MAKE SURE THAT FOR M AND O PURPOSES, YOU KNOW, OVER 20 YEARS, THEY'LL COLLECT, YOU'LL COLLECT MORE TAXES THAN YOU'RE GIVING AWAY. SO THAT'S WHAT THEIR TEST IS. AND IF IT DOESN'T MATCH THAT, IF IT DOESN'T MEET THAT TEST, THERE'S DIFFERENT THINGS THEY CAN DO. YOU KNOW, LIKE WITH THE COMPANY TO MAYBE IT USED TO BE IN 313, THEY COULD JUST CHANGE THE LIMITATION AMOUNT TO HELP IT. I'VE NOT SEEN ONE NOT MEET IT FOR, ESPECIALLY FOR SOMETHING LIKE THIS, BUT IT WOULD BE, YOU KNOW, THAT'S PART OF THEIR RECOMMENDATION PACKET. IF IT DOES NOT MEET, THEY WOULD NOT RECOMMEND UNTIL THAT WAS RESOLVED. OKAY. ALL RIGHT. THANK YOU. YOU'RE WELCOME. DOES ANYBODY ELSE HAVE QUESTIONS FOR CASEY WHILE SHE'S UP HERE? NO. NO. OKAY. MY NEXT QUESTION IS FOR MR. BUCHANAN. SO THE PROJECTED 180 MILLION OF ADDITIONAL BONDING CAPACITY, AND THEN THE 335 MILLION IN JUST INS TAXES. DOES THAT MEAN THAT WITH THE 335 MILLION WE ARE PAYING DOWN BOND DEBT WITH THAT. AND THEN WE ALSO HAVE 180 IN BOND CAPACITY? YES. BECAUSE OUR BOND CAPACITY IS BASED ON OUR PROPERTY VALUE GROWTH. SO THAT IS WHERE THE BONDING CAPACITY COMES IS FOR THE POTENTIAL GROWTH OF THE PROJECT IN THE FUTURE. THE 335 $335.5 MILLION IS WHAT THEY WILL PAY IN TAXES TO PAY DOWN OUR BOTH OUR CURRENT BONDED DEBT AND OUR FUTURE BONDED DEBT. AND THAT WAS LIKE 20 MILLION A YEAR ISH, ROUGHLY. YES, MA'AM. OKAY. REALLY, NOBODY HAS ANY MORE QUESTIONS. OH. OH, OKAY. OKAY. SURE. AND WITH THAT IN MIND ONCE AGAIN, WITH RESPECT TO THE INCREASE THAT YOU'VE SEEN MR. BUCHANAN IN THE INS BUDGET? DOES THAT MEAN THAT WE'LL BE ABLE TO MAKE A SIGNIFICANT IMPACT ON PAYING DOWN OUR DEBT? THE REASON I ASK THIS QUESTION IS BECAUSE, AS YOU WELL KNOW, ONE OF THE QUESTIONS THAT COMES UP INEVITABLY BY OUR TAXPAYERS, ANYTIME WE'RE THE YOU KNOW, THERE'S A BOND UP FOR CONSIDERATION IS WHAT OUR PLAN IS AS A DISTRICT TO PAY DOWN DEBT. [00:50:09] AND SO BASED ON THAT INCREASE IN THE INS, IS IT YOUR OPINION THAT WE'LL BE ABLE TO MAKE A SIGNIFICANT IMPACT IN PAYING DOWN DEBT BOND DEBT EARLY? YES, SIR. I MEAN, NOT ONLY THAT, BUT SO ONE THING THAT THAT HAS TO BE LOOKED AT IS THEIR IMPACT OUTSIDE OF JUST OUR PROJECT. SO IF THEY BRING IN MORE COMMERCIAL PROPERTIES, THEN THAT ALSO ASSIST US IN THAT BOND DEBT BEING ABLE TO PAY DOWN. SO BOTH WITH THOSE TWO TIED TOGETHER. YES, SIR. IT WOULD ASSIST US IN PAYING DOWN THAT DEBT SOONER. I WOULD ALSO LIKE TO CLARIFY THAT THAT EVEN THOUGH THAT KRULL AND TESLA IS COMING TONIGHT REQUESTING THAT THE BOARD APPROVE A RESOLUTION, AND PART OF THAT RESOLUTION NEXT WEEK WOULD BE TO ALLOW THE SOMEONE TO SIGN THE AGREEMENT, IT DOES NOT MEAN THAT THE BOARD HAS TO GO THAT PATH. IF THE BOARD CHOOSES TO, THEY CAN APPROVE THE TO MOVE FORWARD WITH THE AGREEMENT NEXT WEEK, AND THEN COME BACK AND HAVE ANOTHER MEETING TO APPROVE THE ACTUAL AGREEMENT ONCE IT GETS SIGNED. SO THOSE ARE THOSE ARE TWO OPTIONS THAT THE BOARD HAS TO MOVE FORWARD WITH, DEPENDING ON WHICH PATH THE BOARD CHOOSES TO MOVE FORWARD WITH. AND IF I COULD, THIS GOES ALONG WITH YOUR THE QUESTION THAT YOU ASKED EARLIER, MEMBER WELCH. THE REASON THAT WE'RE ASKING FOR THAT IS THEY HAVE TO MAKE A SITE SELECTION DECISION VERY, VERY SOON. IF THERE IS NOT SURETY IN THE, THE SCHOOL BOARD OF TRUSTEES POSITION BEFORE THAT DECISION HAS TO BE MADE, THEN THEY'LL JUST ASSUME THAT THAT THE JETTY IS NOT GOING TO HAPPEN. AND SO THEY'LL MAKE THEIR DECISION BASED ON THAT. SO THAT'S AND THEY HAVE TO MAKE THOSE DECISIONS VERY SOON. AND SO WE'RE ASKING ALL MEMBERS OF GOVERNMENT, ALL GOVERNING BODIES, TO, TO MAKE THEIR DECISIONS ABOUT SUPPORT FOR THIS PROJECT BEFORE THE END OF SEPTEMBER. THAT'S WHY SEPTEMBER 15TH FIT REALLY WELL. AND ONE WAY TO KNOW THAT THE VOTE OF AGREEABILITY GOES BEYOND A SECOND BOARD OF TRUSTEES MEETING IS BECAUSE YOU WOULD AUTHORIZE DOCTOR NIVENS TO, TO SIGN THE FINAL AGREEMENT AGAIN, WHICH IS AVAILABLE ONLINE. IT DOES NOT CHANGE. YOU CAN LOOK AT THE AGREEMENT NOW, BUT I'M ASKING THAT BECAUSE OF THE PROJECT TIMELINE, NOT BECAUSE I WANT TO INFLUENCE THE WAY THAT, THAT YOU WANT TO CONDUCT BUSINESS. I'M JUST SAYING IT IS A, IT IS A MATERIAL FACTOR IN THE SITE SELECTION DECISION. AND WE'VE ONLY GOT SO MUCH TIME. YEAH. I'M GLAD I ASKED THAT QUESTION BECAUSE I WAS LED TO BELIEVE AND NOT DECEITFULLY. I'M JUST SAYING I WAS LED TO BELIEVE THAT IT WOULD COME BACK TO THE BOARD, AND I DIDN'T. I DIDN'T UNDERSTAND THAT PIECE OF IT. I WANT TO EMPHASIZE, IS THAT WHAT YOU'RE YOU'RE TELLING US THE DISTRICT IS THAT THERE'S A LOT OF OTHER PARTIES INVOLVED, AND THERE'S A LOT OF OTHER CHECKS ALONG THE WAY, INCLUDING THE COMPTROLLER OF TEXAS AND THE GOVERNOR OF TEXAS. SO IT'S NOT JUST THIS BODY, YES OR NO. TESLA HITS THE GROUND RUNNING AND GOES, THERE'S A LOT OF OTHER FACTORS INVOLVED. AND YEAH, SO I, YEAH, I THINK IT'S A, IT'S AN EXCITING PROPOSITION. SO TRUSTEE, JUST SO, YOU KNOW, WE, WE HAD A CONVERSATION ABOUT THIS AND I UNDERSTAND THE ASK ABOUT DESIGNATING ME TO BE ABLE TO SIGN THAT I PUSHED BACK ON THAT. AND SO MR. GROVER, OUR ATTORNEYS HERE AND I'D LIKE TO SEE US DO SOMETHING DIFFERENT AS FAR AS DESIGNATING ME. AND SO I WAS THINKING ABOUT THE BOARD GIVING THE BOARD PRESIDENT THE AUTHORITY TO SIGN IT OR SOMETHING LIKE THAT. BUT I PUSH BACK ON THAT IDEA BECAUSE I THINK THIS, THIS, THIS IS A VERY LARGE DECISION, A VERY LARGE DECISION THAT THE TRUSTEES WILL NEED TO KNOW WHAT'S HAPPENING BEFORE IT IS IT IS APPROVED. AND SO THAT WAS A CONVERSATION THAT WE HAD LAST WEEK. IN GRIMES COUNTY, WHAT WE SAW RECENTLY IN THE NEWS IS THAT THEY ACQUIRED A CERTAIN AMOUNT OF LAND, AND THEN THEY CAME BACK AND SAID, OKAY, NOW WE'RE BUYING MORE LAND. AND SO KNOWING SO WE TALK ABOUT THE 1600, BUT THEN WE HAVE 3000 AVAILABLE. WILL, WILL IT BE MORE THAN 1600 OR IS THAT ALL YOU CAN LEGALLY SAY? THAT WE NEED 1600 ACRES. I'M NOT LEGALLY BARRED FROM SAYING ANYTHING ELSE TODAY. IT'S 1600 ACRES. THAT'S THE PURPOSE OF THE FACILITY. THE ENTIRETY OF AUSTIN POINT IS LIKE 4600 ACRES. SO IT'S A YOU KNOW, IT'S A BIG CHUNK OF IT, BUT NOT BY ANY MEANS. ALL OF IT. OKAY. DO YOU KNOW YOU HAPPEN TO KNOW HOW MUCH OF THAT ACREAGE WAS ANTICIPATED TO BE RESIDENTIAL OR COMMERCIAL. I DON'T I WOULD I WOULD REFER YOU TO THE LAND DEVELOPER SIGNORELLI. OKAY. I WONDER IF HE WOULD COME ON TO THE PUBLIC HEARING. POSSIBLY. OKAY. DOES ANYBODY HAVE ANY OTHER QUESTIONS? NOT NOW. OKAY. YOU CAN ALWAYS PICK IT BACK UP AFTER PUBLIC PARTICIPATION, BUT OH, SORRY. [00:55:05] SORRY. GREG, I THINK THIS MIGHT BE FOR YOU IN IN YOUR SLIDE SHOW, IT SHOWED THAT WE HAD A GAIN OF ABOUT $89,000. WAS THAT CORRECT? YES, MA'AM. OVER 16 YEARS FOR THE MAINTENANCE AND OPERATIONS. OKAY. SO WHERE DOES THAT COME FROM? SO IT COMES BACK FROM OUR SO YOU, YOUR TAX RATE IS YOUR TIER ONE AND TIER TWO. YES. SO YOU HAVE YOUR, YOUR RATE SET BY THE STATE. AND THEN YOU HAVE THE THE ENRICHMENT PAINTINGS. IT COMES FROM THOSE ENRICHMENT PAINTINGS. OKAY. AND SO THEN WHY IS THAT PORTION NOT OFFSET BY THE STATE AID? BECAUSE THAT IS NOT PART OF THE FUNDING FORMULA THAT IS VOTED ON BY THE BOARD OF TRUSTEES OR THE LOCAL TAXPAYERS. OKAY. THANK YOU. FOR THE COMMUNITY SAKE, MR. BUCHANAN THAT 1600 ACRES OF LAND, APPROXIMATELY LIKE WHAT IS A NEIGHBORHOOD THAT'S ABOUT 1600 THAT WE HAVE AND THE AMOUNT OF TAX DOLLARS THAT I KNOW THIS IS A BIG QUESTION. THE AMOUNT OF TAX DOLLARS THAT NEIGHBORHOOD CAN PRODUCE COMPARED TO TESLA. AND THIS ONE TAXPAYER DOES THAT. I MEAN, MAYBE FOR THE 15TH. YES, SIR. WE COULD DO SOME RESEARCH AND BRING THAT BACK BECAUSE A LOT OF THAT YOU HAVE DETENTION, YOU HAVE ROADS, YOU HAVE PARTS OF THAT AREA THAT YOU CAN'T BUILD HOMES ON THAT ARE NONTAXABLE. AND THEN BUT YES, WE CAN BRING BACK SOMETHING. YEAH, MAYBE SOMETHING SHOWING THE MIX BETWEEN HOUSE VERSUS COMMERCIAL AND WHAT THAT HOW THAT MIX NEEDS TO BE A LITTLE BIT MORE BALANCED AND SAFER WHENEVER THERE IS THAT MIX. YES, SIR. MR. DENNISON, DID YOUR PRESENTATION INCLUDE ANYTHING ON LIGHT POLLUTION? DID ANYBODY TOUCH ON THAT? YES IT DID. OKAY. CAN YOU REMIND ME WHAT IT SAID? YEAH. IF YOU WANT TO ASK ABOUT IT, WE COULD. I THINK THE MAIN THING IS THERE'S A THE BRAZOS PARK OBSERVATORY OUT THERE, WHICH IS IMPORTANT TO THE COMMUNITY. AND IF THAT WOULD AFFECT THE LIGHTING OUT THERE. YEAH. I MEAN, I THINK WHAT THE COMPANY'S COMMITMENT IS, IS THAT THEY WOULD IF IF THE SITE IS CHOSEN, THEY WOULD EVALUATE ALL, YOU KNOW, WAYS TO MITIGATE LIGHT POLLUTION AND NOT HAVE AN ADVERSE EFFECT ON THAT. OKAY. ALL RIGHT. THANK YOU. ANYTHING ELSE FOR NOW? OKAY. THEN THIS IS THE TIME IN THE MEETING WHERE THE PUBLIC HAS AN OPPORTUNITY TO PARTICIPATE. [3. Public Participation (Note: Public Participation will be after the specific agenda item is addressed by the Board of Trustees.)] MRS. JOHNSON, IS THERE ANY PUBLIC PARTICIPATION? IT IS THE DESIRE OF THE LAMAR CISD BOARD OF TRUSTEES TO APPROPRIATELY AND EFFECTIVELY FULFILL ITS GOVERNANCE ROLE IN ACCORDANCE TO BEST PRACTICES FOR QUALITY ORGANIZATIONS AND TO THE APPLICABLE PROVISIONS OF THE TEXAS EDUCATION CODE. TRUSTEES ALSO DESIRE TO AFFORD AN OPPORTUNITY FOR THE PUBLIC, FOR INPUT FROM THE PUBLIC. MEMBERS OF THE COMMUNITY WHO WISH TO ADDRESS. THE BOARD MUST HAVE COMPLETED A PUBLIC PARTICIPATION CARD AND SUBMITTED IT BEFORE THE PRESIDING OFFICER CALLED THE MEETING TO ORDER. PUBLIC PARTICIPATION ALLOWS INDIVIDUALS TO ADDRESS THE BOARD REGARDING POSTED AGENDA ITEMS AT THE TIME THE ITEM IS TAKEN UP FOR DISCUSSION AND CONSIDERATION BEFORE THE BOARD CALLS FOR A VOTE. PUBLIC COMMENT ALLOWS INDIVIDUALS TO ADDRESS THE BOARD REGARDING NON-AGENDA ITEMS AT THE BEGINNING OF THE MEETING. TRUSTEES MAY NOT RESPOND TO PUBLIC COMMENTS AS THEY ARE PROHIBITED BY LAW FROM DISCUSSING OR DECIDING ANY SUBJECT THAT IS NOT ON THE BOARD'S PUBLICLY NOTICED AGENDA. A TOTAL OF 30 MINUTES WILL BE SET ASIDE FOR PUBLIC COMMENTS. ALL PATRONS DESIRING TO SPEAK AND WHO HAVE COMPLETED THE PUBLIC PARTICIPATION PUBLIC COMMENT FORM WILL BE HEARD DURING THAT PORTION OF THE MEETING. BEFORE FINAL BOARD ACTION IS TAKEN ON AN AGENDA TOPIC. WHILE SPEAKERS MAY HAVE UP TO FIVE MINUTES TO ADDRESS THE BOARD, THE PRESIDING OFFICER MAY ESTABLISH AN OVERALL TIME LIMIT FOR PUBLIC PARTICIPATION AND PUBLIC COMMENT, AND ADJUST THE TIME ALLOTTED TO EACH SPEAKER WHEN NECESSARY TO ACCOMMODATE A LARGE NUMBER OF SPEAKERS. ANY CHANGES TO THE ALLOTTED TIME WILL BE COMMUNICATED TO PARTICIPANTS PRIOR TO THEIR ALLOTTED TIME. HOWEVER, NO SPEAKER SHALL BE GIVEN LESS THAN ONE MINUTE. EACH SPEAKER TONIGHT WILL BE GIVEN THREE MINUTES. EACH SPEAKER MUST ADDRESS THE BOARD FROM THE PROVIDED PODIUM, UNLESS SPECIAL ACCOMMODATIONS HAVE BEEN REQUESTED AND APPROVED. SPEAKERS ARE TO PRESENT THEIR REMARKS TO THE BOARD AND NOT TO THE AUDIENCE. THE BOARD MAY NOT PROHIBIT PUBLIC CRITICISM, INCLUDING CRITICISM OF ANY ACT, OMISSION, POLICY, [01:00:06] PROCEDURE, PROGRAM OR SERVICE OF THE DISTRICT. COMPLAINTS ABOUT A SPECIFIC MATTER SHOULD BE HANDLED THROUGH THE APPLICABLE GRIEVANCE PROCESS, AND THE PRESIDING OFFICER MAY DIRECT THE PARTICIPANT TO SPECIFY TO SPECIFIC BOARD POLICY OR DISTRICT STAFF TO TALK TO AFTER THE MEETING IF NECESSARY. SPEAKERS ARE ADVISED NOT TO USE SPECIFIC NAMES OF STUDENTS OR EMPLOYEES WHEN PROVIDING THEIR REMARKS. ANY SPEAKERS WHO FAIL TO COMPLY WITH THIS EXPECTATION DURING THE PUBLIC PARTICIPATION PUBLIC COMMENT MAY BE DIRECTED BY THE PRESIDING OFFICER TO REFRAIN FROM NAMING THE EMPLOYEE OR STUDENT, AND WILL REFER THE SPEAKER TO THE APPROPRIATE COMPLAINT POLICY. SCHOOL BOARD MEETINGS ARE MEETINGS HELD IN PUBLIC BUT ARE NOT PUBLIC MEETINGS. WHILE THE BOARD VALUES HEARING FROM MEMBERS OF THE PUBLIC, TRUSTEES WILL NOT ANSWER QUESTIONS OR RESPOND TO COMMENTS FROM PATRONS, SPEAKERS WILL NOT ENGAGE IN DIALOG WITH THE TRUSTEES. PLEASE STATE YOUR NAME WHEN YOU COME FORWARD. OUR FIRST SPEAKER IS AARON GROFF. DOCTOR NIVENS. ESTEEMED TRUSTEES. MY NAME IS AARON GROFF AND I'M A RESIDENT OF FORT BEND COUNTY, A BUSINESS OWNER AND FORMER MAYOR OF FULSHEAR. THANK YOU ALL FOR YOUR SERVICE. AND DOCTOR NIVENS ESPECIALLY. THANK YOU FOR TAKING MY CALLS ESPECIALLY WHILE IN OFFICE WHILE I AM IN SUPPORT OF THE JD APPLICATION THAT'S BEEN FILED FOR A MULTITUDE OF REASONS IN COURT, INCLUDING ECONOMIC DEVELOPMENT, A DIVERSIFIED TAX BASE, JOB CREATION. I'M HERE TODAY TO READ THE FOLLOWING LETTER ON BEHALF OF DISTINGUISHED DOCTOR THOMAS RANDALL, WHO REGRETS THAT HE HAS CANNOT BE IN ATTENDANCE THIS EVENING. TO THE LAMAR CSC BOARD OF TRUSTEES, LAMAR CSC PARENTS AND FAMILIES, AND TO THE FORT BEND COUNTY COMMISSIONERS COURT. I SPENT MUCH OF MY CAREER IN LAMAR C ISD WORKING ALONGSIDE DEDICATED TRUSTEES, EDUCATORS, PARENTS, COMMUNITY LEADERS TO EXPAND EDUCATIONAL OPPORTUNITIES AND PREPARE OUR STUDENTS FOR THE FUTURE. I HAVE ALSO SPENT MUCH OF MY PROFESSIONAL AND PERSONAL LIFE CHAMPIONING THE LONG TERM SUCCESS OF FORT BEND COUNTY, A COMMUNITY I AM DEEPLY PROUD TO CALL HOME. TODAY WE HAVE AN EXTRAORDINARY OPPORTUNITY BEFORE US. FORT BEND COUNTY IS BEING CONSIDERED FOR A TESLA ADVANCED MANUFACTURING PROJECT THAT, ACCORDING TO THE PROJECT TEAM, WOULD REPRESENT ONE OF THE LARGEST ECONOMIC DEVELOPMENT INVESTMENTS IN OUR NATION'S HISTORY. THE PROPOSED CAPITAL INVESTMENT IS SIGNIFICANT, BUT EVEN MORE MEANINGFUL IS THE POTENTIAL CREATION OF APPROXIMATELY 10,000 FULL TIME JOBS, NOT INCLUDING THE ADDITIONAL BUSINESSES, SUPPLIERS AND EMPLOYEE EMPLOYMENT OPPORTUNITIES THAT COULD OR WOULD FOLLOW FOR DECADES. FORT BEND COUNTY LEADERS HAVE WORKED TOWARDS A SHARED GOAL, CREATING A STRONG EMPLOYMENT CENTER WHERE MORE OF OUR RESIDENTS CAN LIVE, WORK, BUILD THEIR FAMILIES TO BUILD THEIR FUTURES IN THE SAME COUNTY. WE HAVE MADE TREMENDOUS PROGRESS, BUT WE HAVE NOT YET FULLY ACHIEVED THAT VISION. THIS PROJECT COULD TAKE US AN HISTORIC STEP FORWARD. AS AN EDUCATOR, I'VE ALWAYS BELIEVED THAT OUR RESPONSIBILITY EXTENDS BEYOND PREPARING STUDENTS FOR GRADUATION. WE MUST ALSO HELP CREATE A COMMUNITY WHERE THEY CAN FIND MEANINGFUL CAREERS, RAISE THEIR FAMILIES, AND CONTRIBUTE TO THE PLACE THAT INVESTED IN THEM. I PROJECT A PROJECT OF THIS SCALE COULD CREATE NEW PATHWAYS FOR STUDENTS PURSUING CAREERS IN ENGINEERING, ADVANCED MANUFACTURING, TECHNOLOGY, CONSTRUCTION, LOGISTICS, AND MANY OTHER FIELDS, ALLOWING MORE MORE OF OUR CHILDREN TO BUILD THEIR FUTURES CLOSE TO HOME. FORT BEND COUNTY HAS SUCCEEDED BECAUSE WE HAVE WELCOMED GROWTH WITH BOTH OPTIMISM AND WISDOM. WE EMBRACED NEW RESIDENTS, NEW CULTURES, NEW IDEAS WHILE REMAINING FOCUSED ON STRONG SCHOOLS AND THRIVING COMMUNITIES. THIS OPPORTUNITY CALLS UPON US TO DEMONSTRATE THE SAME SPIRIT WE SHOULD AND MUST EXPECT. LAMAR'S ESD IN FORT BEND COUNTY LEADERS TO CONDUCT THOROUGH DUE DILIGENCE. THE PROPOSED AGREEMENTS SHOULD BE CAREFULLY EVALUATED TO ENSURE THEY PROTECT TAXPAYERS. THANK YOU, MR. GROFF. OUR NEXT SPEAKER IS JEREMY HEATH. [01:05:17] DOCTOR NIVENS BOARD OF TRUSTEES. MY NAME IS JEREMY HEATH. I LIVE IN RIVERSIDE RANCH. I'M HERE TONIGHT WEARING TWO HATS. MY PROFESSIONAL HAT WITH THE FORT BEND REGIONAL PARTNERSHIP AND MY PERSONAL HAT. AS THE FATHER OF A 2025 FOSTER HIGH SCHOOL GRADUATE AND A CURRENT FOSTER HIGH SCHOOL SENIOR. ON THE PROFESSIONAL SIDE, I THINK IT'S IMPORTANT TO FOCUS ON ADDRESSING PROPOSED THE PROPOSED PROJECT ITSELF. YES, IT WOULD BE ONE OF THE LARGEST PRIVATE INVESTMENTS IN OUR COUNTRY'S HISTORY, WITH THE DIRECT CAPITAL INVESTMENT ESTIMATED AT $10 BILLION IN FULL TIME EMPLOYMENT COUNT OF ABOUT 10,000 BY 2033. AND YES, THAT'S HARD TO WRAP ONE'S MIND AROUND. BUT I WANT TO POINT OUT WHAT I THINK IS THE MOST IMPORTANT THING FROM THE PERSPECTIVE OF A FELLOW PROPERTY OWNER AND TAXPAYER IN FORT BEND COUNTY. ROUGHLY 75 TO 80% OF THE CURRENT TAX VALUATION IS ON THE RESIDENTIAL SIDE. SO THAT MEANS RESIDENTS IN FORT BEND COUNTY CARRY THE LION'S SHARE OF THE TAX BURDEN. PUTTING $4 BILLION OF TAXABLE VALUE ON THE GROUND WOULD CERTAINLY CLOSE THAT 7525 GAP SIGNIFICANTLY. SHIFTING A SIGNIFICANT PORTION OF THAT BURDEN AWAY FROM RESIDENTIAL PROPERTY OWNERS AND ALLOWING OUR LOCAL ELECTED OFFICIALS TO MAKE RESPONSIBLE DECISIONS ON WHETHER OR NOT TO REDUCE THE ANNUAL TAX RATE EACH YEAR, RATHER THAN USING PROMISES OF TAX CUTS TO INFLUENCE POTENTIAL VOTERS WITHOUT EXAMINING THE LONG TERM EFFECTS OF THOSE CUTS. PERSONALLY, I LIKE DRIVING ON SAFE ROADS, HAVING ACCESS TO RELIABLE WATER AND SANITARY SEWER SYSTEMS, AND PAYING LAW ENFORCEMENT AND PUBLIC SCHOOL TEACHERS WHAT THEY ARE WORTH. I ALSO LIKE THE IDEA OF BALANCING THE TAX BURDEN BETWEEN COMMERCIAL AND RESIDENTIAL TO PAY FOR THOSE THINGS. ON THE PERSONAL SIDE, MY WIFE AND I HAVE PROMISED OUR SONS WE WILL DO EVERYTHING WE CAN TO SUPPORT THEIR DREAMS, WHETHER THAT TAKES THEM ACROSS THE COUNTRY OR ACROSS THE COUNTY OR ACROSS THE STREET. YOU KNOW, WE'D PREFER IT TO BE ACROSS THE COUNTY. I'M SURE THERE ARE A LOT OF PARENTS OUT THERE WHO FEEL THE SAME WAY. IF WE LAND THIS PROJECT AND THE HIGH TECH, HIGH PAYING JOB OPPORTUNITIES IT BRINGS WITH IT, IT CREATES LITERALLY THOUSANDS OF OPPORTUNITIES FOR FUTURE GRADUATES FROM LAMAR SCHOOLS TO MAKE THEIR DREAMS COME TRUE AND BUILD THEIR LIVES HERE AT HOME. I HUMBLY ASK THE BOARD TO SUPPORT THIS PROJECT. THANK YOU. OUR NEXT SPEAKER IS JAMES PATTERSON. NERVOUS COMING FOR SCHOOL BOARDS BECAUSE I'M A FORMER PRINCIPAL AT DULLES HIGH SCHOOL IN ELKINS HIGH SCHOOL, AND AT LEAST ONE OF YOU ALL SPENT TIME IN MY OFFICE. I'M NOT GOING TO NAME NAMES. I WAS ALSO COUNTY COMMISSIONER FOR 20 YEARS. TO ANSWER, MR. LAMBERT THE 1600 ACRES THE COUNTY WOULD APPROVE APPROXIMATELY 4 TO 5 HOMES PER ACRE. SO YOU'RE TALKING 7000 TO 8000 HOMES IN PLACE OF WHAT THESE GENTLEMEN ARE PRESENTING. THAT MEANS FOR DOCTOR NIVENS AND YOU GUYS, AT LEAST 12,000 STUDENTS, 12,000 STUDENTS RELATE TO A WHOLE BUNCH OF SCHOOLS THAT YOU HAVE TO OPERATE AND MAINTAIN AND TAKE CARE OF. SO YOU'RE YOU'RE TRADING THIS PROJECT FOR HAVING TO BUILD SCHOOLS FOR. WHEN I WAS A YOUNG PERSON, THE SUPERINTENDENT CAME TO US AND SAID, GUYS, YOU GOT TO BE READY. WE GOT TO BUILD AN ELEMENTARY SCHOOL EVERY YEAR, TWO ELEMENTARY SCHOOLS EVERY OTHER YEAR, A JUNIOR HIGH SCHOOL EVERY TWO YEARS, AND A HIGH SCHOOL EVERY FOUR YEARS. THAT MEANS DULLES. WILLOWRIDGE. CLEMENTS. KEMPNER. ELKINS, WHERE I WAS, ENDED UP BEING THE PRINCIPAL. IT WAS TRUE. YOU ALL ARE IN THE SAME SHAPE RIGHT NOW. RIGHT NOW, THESE ARE JOBS FOR LOCAL PEOPLE. THAT'S IMPORTANT. YOU'RE NOT SAYING THESE ARE JOBS WHERE WE HAVE TO GO ACROSS THE RIVER OR ACROSS THE STATE OR ACROSS THE NATION TO FIND THOSE JOBS. THEY CAN BE LOCALLY EDUCATED. RIGHT NOW, THE COUNTY IN 2010, COUNTY COMMISSIONERS CREATED A PUBLIC TRANSPORTATION SYSTEM. THAT PUBLIC TRANSPORTATION SYSTEM WAS BASICALLY LOCAL BUSSES, BUT IT WAS ALSO TO COMMUTE. [01:10:02] AT THAT TIME, THERE WERE NO COMMUTER BUSSES. TODAY THERE'S 25 ROUTES. THEY'RE ALL GOING ACROSS THE RIVER. THE RIVER USED TO BE A REAL TALL THING WHEN I WAS YOUNG. YOU KNOW, YOU HAD RIVER RATS ON THIS SIDE AND. AND THE DALLAS SIDE. NOW, NOW, THERE'S 25 OF THOSE ROUTES. THE COUNTY, LESS THAN TWO YEARS AGO, CREATED A DOWNTOWN ROUTE, WHICH IS A NONSTOP ROUTE TO DOWNTOWN HOUSTON. THAT THAT ROUTE HAS ALREADY GROWN TO TEN ROUTES A DAY. AND I JUST TALKED TO THE TRANSPORTATION DIRECTOR, AND SHE ASSURED ME THAT THEY NEED MORE ROUTES TO GO DOWNTOWN. WE NEED TO STOP SOME OF THE SOUTHWEST FREEWAY TRAFFIC IN 90 AYE TRAFFIC GOING THAT DIRECTION. I WILL TELL YOU THAT APPROXIMATELY 15 YEARS AGO, SUNOCO WAS TRYING TO MAKE A DECISION TO MOVE FROM OKLAHOMA TO FORT BEND COUNTY. THEY MADE THE CHOICE TO MOVE TO FORT BEND COUNTY. AND AT A LATER TIME, WE TALKED TO SOME OF THE LEADERS AND THEIR SPECIFIC ANSWER WAS WE MOVE BECAUSE OF THE UNITY OF THE COUNTY THAT WE SAW. WE HAD THE SCHOOL DISTRICTS. WE HAD THE LEADERSHIP OF THE COUNTY. OUR FINAL SPEAKER IS DON MCCOY. GOOD AFTERNOON. HELLO, BOARD. DOCTOR NIVENS MADAM PRESIDENT, IT SURE IS AN HONOR TO SPEAK IN FRONT OF YOU IN FRONT OF YOUR NEW COUNCIL ROOM OR TRUSTEE ROOM. IT LOOKS BEAUTIFUL. THANK YOU VERY MUCH FOR HAVING ME HERE AND GIVING ME A TOUR. MR. WELCH, I APPRECIATE IT. I'D LIKE TO SAY MY NAME IS DON MCCOY AND I'M THE. I'M THE CURRENT MAYOR OF FULSHEAR, TEXAS. I'M ALSO THE PRESIDENT OF THE REGIONAL CHAMBER FOR COMMERCE, AND I'M THE LCISD, ONE OF THE LCISD STADIUM ANNOUNCERS. SO I'M ON THE PAYROLL. OKAY, MAYBE THIS WILL INCREASE OUR ANNOUNCER PAY. I DON'T KNOW. I WAS TALKING TO DEVIN ABOUT THAT. HOWEVER, I'M HERE TO PROVIDE A LITTLE COMMENT ON THE ON THE PROJECT CRYSTAL SUN AND THIS THIS PROJECT, I LIKE TO CALL IT SOMETHING THAT IS POWERED BY THE TEXAS SUN, INSPIRED BY OUR STUDENTS AND BUILT FOR GENERATIONS. IT'S A GENERATIONAL OPPORTUNITY. ABSOLUTELY. I DID COME UP WITH A LITTLE ACRONYM FOR LCISD AND THAT MEANS LEADERSHIP, CREATIVITY, CREATIVITY AND INNOVATION WILL SHAPE OUR DREAMS, ESPECIALLY WITH OUR STUDENTS. BUT EVERY GENERATION IS PRESENTED WITH A HANDFUL OF MOMENTS LIKE THIS THAT CAN CHANGE THE TRAJECTORY. LET ME GET THAT WORD RIGHT IN OUR COMMUNITY MOMENTS THAT WE CAN THAT, YOU KNOW, MOMENTS THAT WE CAN CONTINUE ON DOWN THE ROAD, AS WE'VE ALWAYS DONE, OR RECOGNIZE SOMETHING EXTRAORDINARY THAT IS STANDING BEFORE US. FOR DECADES, WE HAVE TALKED HERE IN FORT BEND COUNTY ABOUT TRANSFORMING THIS PLACE, OUR PLACE, OUR HOME WHERE PEOPLE PRIMARILY LIVE, TO A PLACE WHERE PEOPLE CAN ACTUALLY BUILD EXTRAORDINARY CAREERS. THAT POSSIBILITY IS ACTUALLY STANDING ON OUR DOORSTEP TODAY. I WANT TO MAKE ONE THING VERY CLEAR. AS WAS MENTIONED BEFORE, AND FOR THE FOLKS LISTENING IN AT HOME, THERE'S BEEN A LITTLE CONFUSION ABOUT THIS PROJECT. AND THIS IS NOT A DATA CENTER. THE PROPOSAL BEFORE THE COMMUNITY IS, LIKE EVERYONE SAID, $10 BILLION OF ADVANCED SOLAR CELL MANUFACTURING FACILITY THAT WOULD MANUFACTURE PHOTOVOLTAIC SOLAR CELLS. SAY THAT THREE TIMES, POTENTIALLY A SYMBOL OF SOLAR MODULES RIGHT HERE IN FORT BEND COUNTY. OUTSTANDING. YOU KNOW, AS YOU SAID, ALMOST TEN 000 JOBS, $1.3 BILLION IN PAYROLL AND CONSTRUCTION JOBS AT ITS PEAK, ALMOST 1200 CONSTRUCTION JOBS. NOW THINK ABOUT THOSE NUMBERS FOR A MINUTE. NEARLY 10,000 PERMANENT JOBS. $1.3 BILLION IN ANNUAL PAYROLL AND POTENTIALLY ONE OF THE LARGEST PRIVATE SECTOR EMPLOYERS IN FORT BEND COUNTY. BUT IT'S SIMPLY NOT ABOUT THE NUMBERS ON AN ECONOMIC DEVELOPMENT REPORT. IT'S ABOUT THE CHILDREN, THEIR FUTURE. OUR FUTURE. IT'S ABOUT LAMAR CISD STUDENT BEING A STUDENT, BEING ABLE TO GRADUATE, EARN CERTIFICATIONS. I GOT TO HURRY UP, BUT BE ABLE TO WORK RIGHT HERE AT HOME. I THINK YOU ALL KNOW THE PROJECT IS VIABLE. IT'S BEAUTIFUL. AND AGAIN, THIS IS OUR MOMENT TO REALLY MAKE A GREAT DECISION. SO THOSE AT HOME, PLEASE DO YOUR BEST AND TRY NOT TO PUT UP WHAT I CALL CAVE PEOPLE. THANK YOU. ALL RIGHT. THAT WAS IT. OKAY. DOES ANYBODY HAVE ANY FURTHER DISCUSSION? [01:15:05] NO. OKAY. SO NEXT STEPS WE WILL DISCUSS. WE WANT TO GO TO CLOSED SESSION. OKAY. WELL DONE. IT IS I DON'T KNOW. 6:45 P.M. [5. CLOSED SESSION] WE ARE ADJOURNING TO CLOSED SESSION PURSUANT TO TEXAS GOVERNMENT CODE SECTIONS 551.071551.072551.074 AND 551.082. THE OPEN MEETINGS ACT TO DISCUSS PERSONNEL, LAND ACQUISITION OR CONSULTATION WITH OUR ATTORNEY. [RECONVENE IN OPEN SESSION] ALL RIGHT, WE ARE NOW BACK IN OPEN SESSION. IT IS 7:04 P.M.. WE HAVE A QUORUM. I JUST WANT TO THANK YOU ALL FOR BEING HERE TONIGHT. THANK YOU FOR ALL THE INFORMATION, AND WE LOOK FORWARD TO SEEING YOU ON THE 15TH. I ASSUME YOU'LL ALL BE BACK. OKAY. ALL RIGHT. THE MEETING IS ADJOURNED. IT IS 7:04 P.M.. * This transcript was compiled from uncorrected Closed Captioning.