[0:06] >> GOOD AFTERNOON. AND WELCOME TO THE MAY 14, 2025, [0:12] MEETING, REGULAR MEETINGF THE BOARD OF ESTIMATE AND TAXATION. MAY NAME IS STEVE BRANDT AND I'M [0:19] THE PRESIDENT OF THE BOARD. BEFORE WE BEGINHE MEETING, I WOULD ASK THE CLERK TO OFFER A REMINDER TO THE PUBLIC AND [0:25] ANYONE ELSE PARTICIPATING ORALLY IN THIS BROADCAST. [0:30] >> I WANT TO OFFER A FRIENDLY REMINDER TO ALL MEMBERS, STAFF, AND THE PUBLIC THAT THESE MEETINGS ARE BROADCAST LIVE TO [0:37] ENABLE GREATER PUBLI PARTICIPATION. THESE BROADCASTS INCLUDE REAL-TIME CAPTIONING AS A [0:42] FURTHER METHOD TO INCREASE THE ACCESSIBILITY OF OUR PROCEEDINGS TO THE COMMUNITY. THEREFORE, ALL SPEAKERS NEED TO [0:48] BE MINDFUL OF THE RATE OF THEIR SPEECH SO THAT OUR CAPTIONER CANS FULLY CAPTURE AND [0:55] TRANSCRIBE ALL COMMENTS FOR THE BROADCAST. WE ASK ALL SPEAKERS TO MODERATE THE SPEED AND CLARITY OF THEIR COMMENTS. [1:01] >> AT THIS TIME I'LL ASK THE CLERK TO CALL THE ROLL SO WE CAN VERIFY THE PRESENCE OF A QUORUM. [1:08] >> MEMBER FREY, HERE. >> ABENE, HERE. [1:16] >> PAYNE IS ABSENT. >> CHUGHTAI, PRESENT. >> VICE PRESIDENT PREE-STINSON, [1:22] PRESENT. >> PRESIDENT BRANDT, PRESENT. >> THERE ARE FIVE MEMBERS PRESENT. >> LET THE RECORD SHOW THAT WE HAVE A QUORUM. [1:28] I WILL NOW OFFER AN ACKNOWLEMENT THAT WE MEET TODAY ON THE LAND OF THE DAKOTA. [1:34] WE'LL PROCEED TO THE AGENDA, A COPY OF WHICH WAS POSTED FOR PUBLIC ACCES AT THE CITY'S [1:40] LEGISLATIVE INFORMATION MANAGEMENT SYSTEM, WHICH IS AVAILABLE AT LIMS.MINNEAPOLIS [1:50] MN.GOV. BOARD MEMBERS, THE AGENDA FOR TODAY'S MEETING IS BEFORE US. MAY I HAVE A MOTION TO ADOPT THE [1:55] AGENDA? >> SO MOVED. >> IS THERE A SECOND? >> SECOND. >> OKAY. ANY DISCUSSION? SEEING NONE, [2:01] ALL THOSE IN FAVOR SAY AYE. OPPOSESAY NAY. THE AYE'S HAVE IT AND THE AGENDA [2:07] IS OPTED. NEXT IS THE ACCEPTANCE OF MINUTE FROM OUR APRIL 23 MEETING. [2:13] MAY I PLEASE HAVE A MOTION TO ACCEPT THE MINUTES? >> SO MOVED. >> SECOND. [2:19] >> OKAY. WE HAVE A PROPER MOTIONEFORE US. ANY DISCUSSION? ALL THOSE IN FAVOR PLEASE S [2:26] AYE. THOSE OPPOSED, SAY NAY. THE AYE'S HE IT AND THE [2:31] MINUTES ARE ADOPTED AS PRESENTED. ITEM FOUR IS THE ACCEPTANCE ON THE AGENDA TODAY IS THE [2:37] ACCEPTANCE OF PUBLIC COMMENT. THE CLERK INFORMS ME THAT WE HAVE NOBODY SIGNED UP TO SPEAK TODAY. SO WE'LL CONTINUE ON TO THE NEXT [2:44] ITEM ON OUR AGENDA, WITH JUST A REMINDER THAT MEMBERS OF THE [2:50] PUBLIC ARE ABLE T TAKE ADVANTAGE OF THE OPPORTUNITY TO SPEAK TO THE BOARD OF ESTIMATE [2:56] AND TAXATION ON AN ITEM THAT IS ON THAT DAY'S AGENDA FOR UP TO [3:01] TWO MINUTES. AND I WOULD ENCOURAGE PEOPLE TO TAKE -- WE ENCOURAGE YOUR PUBLIC [3:07] TO TAKE ADVANTAGE OTHAT. ITEM FIVE IS RECEIVING A DEBT PRESENTATION -- OH, I WILL ASK [3:16] E CLERK TO -- I GUESS I WOULD ASK THE CLERK TO RECEIVE AND FILE THE COMMENTS, BUT WE HAVE NO COMMENTS. ITEM FIVE O THE AGENDA IS [3:21] RECEIVING A DEBT PRESENTATION FROM THE DIRECTOR OF BANKING, INVESTMENTS AND DEBT DAVID [3:29] WHEELER, SENIOR MANAGER, WILL PRESENT THE ANNUAL LIST OF NOT YET BONDED AMOUNTS OF CURRENTLY AUTHORIZED CAPITAL PROJECTS. [3:39] KID [3:49] >> GOOD AFTERNOON, PRESIDENT BRAN, GIVING THE PRESENTATION ON BEHALF OF OUR DIRECTOR AND [3:54] OURDIVISION. I WILL PRESENT OUR ANNUAL SUMMARY OF THE CITY INDEBTEDNESS AS WELL AS PRESENT THE CURRENTLY [4:00] OUTSTANDING BONDING AUTHORIZATIONS FOR CITY PROJECTS. AND THEN BRIEFLY AT THE END JUST [4:06] TOUCH ON KIND OF SOME PRELIMINARY PREVIEW OF THE [4:12] CITY'S 2025 VARIOUS PURPOSE BOND ISSUE. WE WILL EXPECT TO COME BACK IN JUNE FOR THE FORMAL AUTHORIZING AND AWDING RESOLUTIONS FOR THE [4:22] BET TO CONTINUE ON IN THE BOND ISSUANCE PROCESS. [4:27] AND TO START WITH, IANT TO JUST TOUCH ON SOME GOOD NEWS. IT'S NOT NEW TO ANYONE, BUT I THINK BEARS REPEATING THE CITY'S [4:34] BOND RATINGS, WE CURRENTLY OWN THREE TRIE A RATINGS FROM THE NATIONAL CREDIT RATING AGENCIES. [4:41] STANDARD & POOR'S AND FITCH HAVE MAINTAINED TRIPLE AATINGS FOR [4:46] THE CITY FOR THE PAST FEW YEARS AND AT THE END OF 2025 AS PART [4:52] OF THE ANNUAL SURVEILLANCE RATING, MOODY'S INVESTOR SERVICE UPGRADED THE CITY TO TRIPLE A. SO AS THE MAYOR NOTED LAST WEEK [4:58] IN THE STATE OF THE CITY ADDRESS, WE EXPECT ONE OF ABOUT 20, MBE 30 CITIES IN THE [5:04] ENTIRE NATION TO HAVE THREE AAA BOND RATINGS. I THINK A RECOGNITION OF THE [5:10] CITY'S FINANCIAL MANAGEMENT, LEADERSHIP AND GOVERNANCE AND THE CONFIDENCE FROM THE MARKET [5:16] THAT WILL MEET OUR OBLIGATIONS AND PAY OUR DEBT SERVICE. AND JUST A GOOD RECOGNITION, SO [5:21] WANTED TO, AGAIN, POINT THAT OUT. [5:29] AT THE END OF 2024, THE CITY HAD $843 MILLION IN DEBT [5:35] OUTSTANDING. MOST OF THAT COMES IN THE FORM OF OUR TAX SUPPORTED OR LEVY FUNDED DEBT, $325 MILLION. [5:42] NEAR THAT AMOUNT IS THE ENTERPRISE FUNDED DEBT THAT IS [5:48] BONDS PAYABLE BY THE ENTERPRISE INFRASTRUCTURE AND CAPITAL PROJECTS FOR SEWER, STORM WATER [5:55] AND WATER UTILITIES. THOSE DEBTS ARE PAID BACK FROM REVENUES WITH PLEDGED REVENUES [6:01] OF THE PAID DEBT SERVE. WE DO HAVE OUR GENERAL OBLIGATION PLEDGE ON THOSE. IF REVENUE IS EVER INSUFFICIENT [6:09] TO PAY DEBT SERVICE, WE WOULD LEVY TAXES, BUT T MY KNOWLEDGE [6:18] WE HAVE NEVER HAD TO DO THAT. AND THE ADEQUATE REVENUE RATIOS TO PAY THE DEBT SERVICE. AND THE REMAINING PURPOSE AND [6:26] DEBT TYPES, AND WE HAVE FAIRLY [6:31] SMALLER AMOUNTS RELATIVE -- I W UNDER $5 MILLION IN DEBT [6:36] OUTSTANDING AT THE END OF LAST YEAR. AND SPECIFICALLY THE CONVENTIO [6:41] CENTER WAS THE $26 MILLION AND REFUNDING ISSUE IN 2020. THAT WHOLE AMOUNT IS DUE ON DECEMBER 1 OF THIS YEAR, SO [6:48] WE'LL RETIRE THAT ENTIRE ISSUE OUTSTANDIN [6:57] >> JUST A LOOK AT THE HISTORY OF THE OUTSTANDING DEAD GOING BACK [7:03] A DECADE. AND STARTING ON THE FAR LEFT THIS, PAST YEAR, RELATELY CONSISTENT, NOMINAL INCREASES [7:10] YEAR OVER YEAR ALONG WITH THE CAPITAL PLANNING. [7:15] WE'VE KIND OF PROGRESSED ACCORDING TO OUR EXPECTATIONS, AND I WILL JUST NOTE ON AN [7:21] INFLATION ADJUSTED BASIS WE ARE AT OR BELOW OUR PAST BALANCES. [7:29] SO VERY CONSISTENT DEBT LOA [7:35] AND THEN A LOOK AT THE CI'S DEBT CAPACITY. THIS IS A STATUTORY DEBT LIMIT THAT IS SET FORTH IN STATE [7:45] STATUTES. IT SETS A DEBT LIMIT OF TAX SUPPORTED DEBT THAT THE CITIES CAN ISSUE, APPLICABLE TO L [7:54] CITIES IN THE STATE. MOSTLY IT IS 3% OF THE TAXABLE MARKET VALUE. FOR CITIES AS MINNEAPOLIS-ST. [8:00] PAUL, CITIES OF THE FIRST CLASS, THE LIMIT IS SET AT 3 2/3 OF THE [8:06] TAXABLE MARKET VALUE. OUR LEGAL DEBT LIMIT IS $2.5 BILLION. WE DON'T HAVE ANYWHERE NEAR THAT [8:12] OUTSTANDING OBVIOUSLY AND AT MID YEAR END WE HAD DEBT OUTSTANDING THAT WAS APPLICABLE TO THIS [8:19] AGAIN, PRIMARILY LEVY FUNDED DEBT OF $313 MILLION, SO ABOUT A [8:27] 12.6% USAGE OF THAT DEBT LIMIT. [8:37] AND THEN JUST FOR REFERENCE, AND PRESENTED AND UPDATED AGAIN FOR [8:43] THIS YEAR, A PICTURE OF THE DEBT LIMIT UTILIZATION THROUGHOUT NEIGHBORING COMMUNITIES. THESE ARE THE LARGEST 15 CITY [8:50] ISSUERS IN THE STATE. AND IT'S A BUSY GRAPH, BUT WHAT IS PRESENTED HERE IS EACH CITY'S [8:57] DEBT LIMIT AS WELL AS ON THE GREEN DOT THAT PERCENTAGE OF DEBT OSTANDING THAT IS [9:04] APPLICABLE TO THAT LIMIT, SO I THK FIRST AND FOREMOST WHAT JUMPS OUT IS THE MAGNITUDE OF [9:10] OUR LIMIT COMPARATIVELY OF OTHER ISSUERS AROUND. [9:16] I'LL NOTE THAT ORANGE DOTTED LINE IS THE INSURER OF THE 11% IS THE AVERAGE USAGE OF ISSUERS [9:25] AND RIGHT IN LINE WITH THAT. A HAIR ABOVE AND VERSUS 11% FOR MOST OF THE ISSUERS. [9:34] >> AND THEN THIS IS A LOOK, AGAIN, THAT DEBT LIMIT WAS A [9:40] LIT AGAINST THE TAXABLE MARKET VALUE IN THE CITY. THIS IS A LOOK AT THE [9:47] OUTSTANDING TAX SUPPORTING DEBT THE CITY HAS AS COMPARED TO THE TAX CAPACITY. PRESIDENT BRANDT, I THINK YOU [9:53] HAD ASD ABOUT A DATA POINT LIKE THIS LAST YEAR, SO WE INUDED AGAIN AN INTERESTING [9:59] LOOK JUST TO SEE AND THE DIFFERENCE HERE IS THIS IS JUST THE TAX CAPACITY, SO THE RATIO [10:05] LOOKS HIGHER AT 40% OF THE TAX CAPACITY IN GREEN IS THE [10:10] APPLICABLE DEBT, TAX SUPPORTED LEVY FUNDED DEBT, BLUE IS THE TREN OF OUR TAX CAPACITY. [10:17] AGAIN, TRENDING UP NOMINALLY UP EACH YEAR. [10:22] WE ARE UP AROUND 40% AS WE SEE THE TAX CAPACITY OFF PEAK VALUES IN 2023, SO TICKING UP A LITTLE. [10:28] BUT THE OTHER THING I'LL NOTE IS THAT IS ALL OF THE TAX SUPPORTED DEBT OUTSTANDING. [10:35] AND THIS IS ESSENTIALLY SAYING TAX CAPACITY THIS YEAR AND THAT IS THE ENTIRE DEBT OUTSTANDING [10:40] AND IN REALITY, WE LEVY ABOUT $5 # A MILLION FOR DEBT SERVICE [10:47] THIS -- LEVY ABOUT $55 MILLION FOR DEBT SERVICE AND EQUATES TO 7% OF THE TAX CAPACITY VALUE. [10:59] >> SO THOSE ARE JUST KIND OF THE SOME OF THE HIGHLIGHTS THE CITY INDEBTEDNESS AT YEAR END AND [11:05] TAKE ANY QUESTIONS ON THAT AND I ALSO WANTED TO PRESENT TO THE BOARD THE CURRENT LIST OF [11:11] OUTSTANDING BONDING AUTHORIZATIONS AND THIS IS A SUMMARY PAGE AND YOU SHOULD HAVE [11:17] THE EXHIBIT IN THE MEETING PACT [11:23] PACKETS AS WELL. I APOLOGIZE FOR THE READABILITY OF THE DA LEVELS AND YOU CAN [11:29] REFER TO YOUR PACKETS HOPEFULL FOR ANY SPECIFIC PROJECT QUESTIONS. THESE ARE THE AUTHORIZATIONS [11:35] APPRED BY COUNCIL. WE ARE CARRYING OVER$142 MILLION FROM PRIOR YEARS THAT IS [11:43] BONDING AUTHORIZATIONS THAT WEREN'T USED FOR VARIOUS REASONS. 81 MILLION IN UTILITY ENTERPRISE [11:50] BONDS AND $60 MILLION OF LEVY FUNDED BONDS. IN THE END OF 2024 AS A PART OF [11:55] THE BUDGET RESOLUTIONS, COUNCIL APPROVED $58 MILLION OF [12:02] ENTERPRISE BONDS. AND $102 MILLION IN LEVY FUNDED DEBT AND$9 MILLION OF ASSESSMENT BONDS FOR TOTAL OF [12:10] $313 MILLION IN AUTHORIZATIONS OUTSTANDING. AGAIN, THAT IS BONDS YET TO BE ISSUED. WE DON'T OBVIOUSLY ISSUE ALL OF [12:17] THAT EVERY SINGLE YEAR DEPENDING ON WT PROJECTS ARE READY TO BE [12:22] FUNDED. BUT THIS IS A FAIRLY TYP BALANCE THAT WE CARRY IN OUTSTANDING AUTHORIZATIONS. [12:28] >> MR. WHEELER, IF I COULD INTERRUPT FOR A MINUTE, WHILE WE ARE ON THIS PAGE, IT LOOKS LIKE [12:35] THE RATIO BETWEEN ENTERPRISE AND LEVY FUND IS QUITE A BIT [12:44] AS OPPOSED TO THE PRIOR ZED 2025 AUTHORIZATION. AND I WONDERED IF THERE'S A FACTOR OR SIES OF FACTORS THAT [12:52] HAVE CONTRIBUTED TO THAT. AND MORE ENTERPRISE BONDS THAN LEVY FUNDED IN THE PREVIOUS [12:57] YEARS, AND NOW IN 2025 WE, IN WHAT'S AUTHORIZED TO BE ISSUED, WE HAVE MUCH MORE IN LEVY [13:04] FUNDED. >> YEAH, PRESIDENT BRANDT, SO A LOT OF IT IS JUST PROJECTS SET [13:11] FOR VARIOUS REASONS HAVE NOT NEEDED OR BEEN READY TO ISSUE [13:16] BONDS AS FAR AS PROJECT CONSTRUCTION COSTS NOT EXPECTED . THE 2025 RATIO IS A PRETTY [13:24] TYPICAL RATIO. WE PRETTY TYPICALLY WILL SEE A GHER BALANCE OF LEVY FUNDED [13:29] BONDS APPROVED, AUTHORIZATIONS APPROVED. THERE'S JUST BEEN FOR VARIOUS REASONS ENTERPRISE PROJECTS THAT [13:35] HAVE NOT NEEDED OR BEEN ABLE TO ISSUE THEIR BONDS. SOHAT'S AN ACCUMULATION GOING [13:41] BACK SEVERAL YEARS OF AUTHORIZATIONS NOT UTILID OR NOT ISSUED ON. [13:46] >> AND WOULD THAT BE MAIY RELATED, FOR EXAMPLE, ONE THATMENT COS TO MIND IS THE -- [13:52] ONE THATOMES TO MIND WERE THE PROJECTS THAT WERE SLATED IN THE ROOF DEPOT SITE AS PART OF THE PUBLIC WORKS COMPLEX. [13:58] BUT THE CITY APPARENTLY IS MOVING IN A DIFFERENT DIRECTION. I ASSUME THOSE WOULD BE FUNDED [14:04] BY ENTERPRISE REVENUES PRIMARILY? >> YES, PRESIDENT BRANDT, THAT IS ONE OF THE PROJECTS THAT DOES [14:10] HAVE AN ACCUMULATION. WE'VE NOT ISSUED BONDS ON THAT SO THEY DO HAVE A NUMBER OF [14:16] OUTSTANDING AUTHORIZATIONS. >> OKAY. THANK YOU VERY MUCH. AND I WOULD LIKE TO CLERK TO NOTE THAT COMMISSIONER PAYNE IS [14:21] IN THE MEETING. [14:28] GO AHEAD. >> SURE. AND I HAVE INCLUDED THE TABLE AND THE SLIDE. [14:33] I WILL SKIP THROUGH. IF ANYONE HAS ANY SPECIFIC QUESTIONS ON ANY OF THE AUTHORIZATIONS, HAPPY TO TAKE [14:39] T. >> ARE THERE QUESTIONS ON THE [14:45] AUTHORIZATIONS? COMMISSIONER ABENE. [14:50] >> YES. AND NOW I CAN'T -- YOU'RE RIGHT. YOU PROMISED ME THAT I WOULDN'T BE ABLE TO SEE IT AND I CAN'T. [14:56] AND I ALSO DID LOOK AT IT BRIEFLY, BUT WE JUST GOT THE TABLES TODAY AS FAR AS I KNOW. BUT THERE WAS ONE IN THERE AND [15:03] I'M JUST A NERD FOR PV001, WHICH IS TOWARD THE END. IT IS PAVING OR STREETS PROJECT [15:10] AND IT IS $700,000. THE FIRST ONE THERE I CAN ALMOST ACTUALLY MAKE IT OUT. D READING THE BOTTOM LEVEL OF [15:15] THE EYE CHART RIGHT NOW, BUT DO YOU KNOW WHAT YEAR THAT WOULD [15:21] BE? THAT WOULD HAVE BEEN AUTHORIZED? >> COMMISSIONER ABENE, PV001 FOR [15:28] $706,000 WAS APPROVED AT THE END OF 2024. 2025 BUDGET. [15:34] >> THESE WERE ONLY THE 2025 ONES IN THESE TABLES? >> THESE TABLES INCLUDE ANYTHING OUTSTANDING. [15:39] >> OKAY. THIS SHOULD, AGAIN, I APOLOGIZE, HARD TO READ. [15:45] WE DO REFERENCE THE RESOLUTION AND DATE AND PROJECT AND CODE IN [15:51] THERE. >> MAY I ASK A FOLLOW-UP QUESTION? >> CERTAINLY. >> THE PV001, AGAIN, THERE'S ONE [15:58] OF THE THINGS THAT I'M REALLY KEENLY INTERESTED IN IN THE CITY'SOVERALL BUDGET, BUT THAT WAS INCREASED. [16:07] BUZZ HISTORICALLY $700,000 OR $750, AND IT WAS INCREASED, YOU KNOW, IN THE LAST CPLE OF YEARS. [16:13] SO WAS THIS THE TOTAL AUTHORIZATION FOR THAT LINE ITEM OR THE REMAINING AUTHORIZATION [16:18] FOR THAT LINE ITEM? >> COMMISSIONER ABENE, THESE REPRESENT JUST THE TOTAL FOR [16:23] EACH LINE ITEM. SO $706,000 WAS APPROVED IN [16:31] RESOLUTION 2024, R-445. [16:36] SO I CAN'T SPEAK TO THE OUTSTANDING BALANCE. I BELIEVE ANYTHING THAT HAD BEEN PREVIOUSLY AUTHORIZED HAS [16:42] PROBABLY BEEN ISSUED, BUT I WOULD DEFER TO PUBLIC WORKS AND CAN ANSWER THAT AFTER THE [16:49] MEETING. >> I APPRECIATE THAT. THANK YOU. >> I LIKE TO HOP ON THAT [16:55] QUESTION BECAUSE PUTTING ON MY OLD CLICK HAT, IT SEEMS TO ME WE RECOMMENDED AN INCREASE IN [17:01] FUNDING FOR PARKWAY PAVING, AND AS I RECALL, MAYOR, AT ONE POINT A YEAR OR TWO AGO, YOU HAD [17:09] RECOMMENDED AN INCREASE ABOUT 26 OR 27. THAT STILL SNT HOPPER OR HAS [17:16] THE COUNCIL TAKEN ACTION TO UNDO THAT? IS THAT STILL IN THE HOPPER OR [17:21] HAS THEOUNCIL TAKEN ACTION TO UNDO THAT? >> I'M GOING TO JUMP IN THERE. THERE IS AIFFERENT AMOUNT, I [17:27] BELIEVE, FOR PV001 AND I DON'T REMEMBER THE YEAR THAT IT WAS FIRST PLANNED TO INCREASE, BUT I [17:33] BELIEVE IT WOULD HAVE BEEN 2024. AND BY 27 IT WAS SUPPOSED TO BE $2.7 MILLION. [17:38] I KNOW THE CITY WAS LOOKING AT $3 MILLION BECAUSE OF THE CONDITION OF THE PARKWAYS AND [17:43] THE REQUIREMENT THEY HAVE EQUIVALENT CONDITION TO ON AVERAGE CITY STREETS. AND THERE IS A JOINT POWERS [17:49] AGREEMENT ABOUT THIS. SO YEAH. AND THAT CAN'T BE CHANGED. I WILL JUST DO A LITTLE LOOKING [17:54] AND THIS WOULD BE THE KIND OF THING WHERE I MIGHT EMAIL [17:59] QUESTIONS AHEAD OFIME ON SOMETHING LIKE THIS. OKAY, THANK YOU. >> COMMISSIONER FREY? [18:05] >> THAT AGREEMENT IS, OF COURSE, PERIODICALLY RENEGOTIATED, AND MOST RECENTLY THE NUMBER WENT [18:12] UP. I COULDN'T TELL YOU BY EXACTLY HOW MUCH BUT THAT RENEGOTIATION WOULD HAPPEN AGAIN, I BELIEVE, [18:20] . >> THANK YOU, COMMISSIONER FREY. ARE YOU SAYING THATASICALLY [18:26] THE ACCELERATION THAT I RECALL AND COMMISSIONER ABENE WAS REFERRING TO IS STILL IN THE [18:33] PIPELINE? >> I BELIEVE SO. I DON'HAVE ANY REASON TO SUSPECT OTHERWISE. >> THANK YOU. [18:38] >>NY OTHER QUESTIONS ON THIS PARTICULAR SECTION? >> PROCEED PLEASE. [18:48] >> AGAIN, HERE IS JUST THE SUMMARY OF OUR CURRENTLY OUTSTANDING AUTHORIZATIONS. [18:54] AND WHAT WE DO WITHIN THE CITY FOR EACH YEAR FOR THE BONDING WE TAKE THE AUTHORIZATIONS AND [19:01] DISBURSE THEM TO THE DEPARTMENTS TO GET THEIR PLANNED SPENDING AND BONDING FOR THIS YEAR. AND SO I WANTED TO MENTION JUST [19:08] BRFLY WE ARE IN THE MIDST OF WORKING ON THE 2025 VARIOUS [19:14] PURPOSE BOND ISSUE. AND AS I MENTION, WE WILL COME BACK NEXT MONTH AND THE NEXT MEETING ON JUNE 11 WITH PLANNED [19:22] AWARDING AND AUTHORIZATION RESOLUTIONS, BUT RIGHT NOW OUR INITIAL INDICATIONS ARE REQUESTS [19:28] OF BOND PCEEDS OF ABOUT $135 MILLION. AGAIN, PRETTY TYPICAL OVER THE [19:34] LAST FEW YEARS. WE'VE BEEN AROUND $120 TO $130 MILLION IN BOND PROCEEDS [19:40] REQUESTED FOR EACH BOND SALE. AND $85 MILLION FOR LEVY FUNDED [19:46] DEBT. $41 FOR ENTERPRISE AND 8.5 FOR ASSESSMENTS. THAT MIGHT CHANGE AS WE MOVE [19:52] ALONG, BUT THOSE ARE PRELIMINARY INDICATIONS. FURTHER DETAILS AND CAN GO A LITTLE MORE IN-DEPTH NEXT MONTH. [20:00] >> OKAY. >> AND FINALLY AS A POINT OF REFERENCE, WE WANTED TO POINT OUT JUST WHERE THE MARKET IS [20:07] RIGHT NOW. >> THIS GRAPH, AND AN [20:13] APOLOGY. IT IS HARD TO READ, BUT WORKING OUT OF BLOOMBERG, THESE ARE THE [20:18] MINNESOTA ISSUES. WE SHOWED THIS LAST YEAR AS WELL. EACH LINE CORRESPONDS TO THE [20:24] LAST TIME WE SOLD BONDS. STARTING AT THE BOTTOM IN 2021 AND YOU CAN SEE WHAT THE YIE [20:30] CURVE WAS LIKE ON THE DAY WE SOLD BONDS. SO 2021 OBVIOUSLY A LOT LOWER. [20:35] AND 2023 IS THE GREEN LINE QUITE A BIT HIGHER. AND THEN 2024 AND 22 AFTER THAT. [20:42] AND T BLUE LINE AT THE TOP REPRESENTS THE CURRENT MARKET IN 2025, SO AGAIN, NOTICEABLY [20:49] HIGHER AND THERE IS UNCERTAINTY ANDOLATILITY IN THE MARKET RIGHT NOW. WE HAVE SEEN RATES INCREASE, SO [20:55] JUST SETTING EXPECTATIONS AND JUST FOR YOUR REFERENCE, THE MARKET IS UP. [21:00] YIELDS ARE A LITTLE HIGHER. SO WE DO EXPECT INCREASE IN INTEREST COSTS FOR THE [21:07] FORESEEABLE FUTURE. AND THAT IS EVERYTHING I WANTED [21:12] TO COVER TODAY. I CAN STAND FOR ANY OTHER QUESTIONS YOU MIGHT HAVE. >> DO THE MEMBERS HAVE ANY [21:18] QUESTIONS PLEASE? >> COMMISSIONER ABENE. >> THANK YOU, PRESIDENT BRANDT. [21:23] I'M SORRY, I THINK SOMETHING OCCURRED TO ME ABOUT PV001 AND I HATE TO SOUND LIKE SUCH AERD [21:29] ON PV001, BUT IT MAY BE THE CITY HAS ITS DISCRETION TO CHOOSE [21:37] FUNDING SOURCES FOR THAT LINE ITEM. AND SO MAYBE THERE'S ONLY A PORTION OF IT THAT'S FROM BONDING, AND THE REMAINEDER IS [21:44] COMING FROM ANOTHER SOURCE. I BELIEVE THAT MIGHT ACTUALLY BE WHAT IS OCCURRING. >> YEAH, JUST TO FOLLOW ONTO [21:50] THAT, WHAT WE REPRESENT HERE IS EXPLICITLY BONDING AUTHORIZATIONS. >> YES, YES. [21:55] >> IF THERE IS OTHER REVENUES, THEY WOULDN'T BE INCLUDED HERE. THIS IS STRAIGHT FROM RESOLUTIONS FROM COUNCIL. >> YEAH, THANK YOU. [22:03] THANK YOU. >> THANK YOU FOR THE PRESENTATION. ARE THERE OTHER QUESTIONS? [22:08] I WOULD JUST LIKE TO ADD MY CONGRATULATIONS TO THE FINANCE STAFF FOR THE WORK IT HAS DONE [22:17] IN CONNECTION WITH THE TRIPLE TRIPLE A. I REALIZE A LOT OF PLAYERS WERE INVOLVED, BUT YOU FOLKS ARE THE [22:23] ONES IN THE TRENCHES AND I APPRECIATE YOUR WK AND THE ADVISORY TO THE POLICY MAKERS AND THE DECISION OF THE POLICY [22:30] MAKERS, PARTICULARLY THOSE ON THE COUNCIL AND THE MAYOR WHO MAKE THE SPENDING DECISIONS. WE HERE JUST SET THE LEVY LIMIT, [22:37] BUT WE TRY TO ENCOURAGE THE SORT OF POLICIES THAT LEAD TO OUTCOMES LIKE THIS. [22:42] I WISH I COULD TAKE CREDIT FOR IT, BUT I CAN'T. SO THANK YOU VERY MUCH FOR THAT. AND SO WHAT YOU'RE TELLING US IS [22:49] THAT WE SHOULD EXPECT SOMEWHA HIGHER INTEREST RATES IN OUR NEXT SALE THAN WE PAID A YEAR [22:55] AG UNLESS THERE'S -- >> YES, RELATIVE TO 2024, YES. OF COURSE, THERE'S STILL SOME TIME. MARKETS CAN MOVE. [23:00] BUT OVERALL, YEAH, YIELDS ARE UP. INTEREST COSTS ARE UP. >> OKAY. [23:07] >> AND WHEN THE CONVENTION CENTER, I BELIEVE IT IS THE [23:12] EXP DECEMBER, I BELIEVE I'VE READ IN [23:19] THE QUARTERLY BUDGET REPORTS THAT THE CONVENTION SENTER IS [23:25] GEARING UP FOR REQUEST THAT [23:31] WOULD ADD ADDITIONAL CAPITAL SPENDING BONDING TO SUPPORT [23:36] ADDITIONAL MODERNIZATION OF THAT FACILITY. DO YOU HAVE ANY IDEA WHAT THE SCALE OF THAT WILL BE COMPARED [23:43] TO THE $26 MILLION PAYMENT, WHICH THAT WAS A BALLOON, WASN'T IT? THAT $26 MILLION. [23:49] >> PRESIDENT BRANDT, YES, THAT WAS -- WE REFUNDED THE ISSUE AT THE TIME IN 2020. [23:55] IT WAS OPTIONALLY REDEEMABLE STARTING IN 2022, BUTYES, IT WAS SET TO MATURE ALL AT ONCE IN [24:03] 2025 AND THE FULL 2026 MILLION WAS THE WHOLE ISSUE. AND AS TO OER CAPITAL [24:09] IMPROVEMENTS, FINANCING AND BONDING, I'M NOT AWARE OF ANYTHING. I HAVEN'T BEEN INCLUDED SO I [24:14] WON'T COMMENT ON THAT. >> AND I'M WONDERING ONE THING I [24:20] WAS INTERESTED IN IS WHAT THE RATIO IS BETWEEN PAY AS YOU GO [24:26] FUNDING AND BONDING AND THAT MAY BE A LITTLE B OUTSIDE OF YOUR [24:31] DOMAIN, BUT HAS THERE BEEN ANY NOTABLE CHANGES IN THAT? I KNOW THE CITY HAS HAD A PHILOSOPHY IN [24:37] AT REGARD FOR A NUMBER OF YEARS. [24:44] >> PRESIDENT BRANDT, I WOULD PREFER T FOLLOW-UP AFTER THE MEETING, BUT WE DO THE VERSION [24:49] OF BOTH. CERTAINLY SOME PROJECTS ARE PAID FOR AND THEN REIMBURSED WH [24:55] BONDING. SOME PROJECTS ARE BONDED FOR AT THE OUTSET. AND IT IS KIND OF I BELIEVE A [25:03] RY PROJECT SPECIFIC CASES, BUT PROBABLY TAKE THAT AWAY AND GIVE [25:09] YOU MORE THOUGHTFUL ANSWER. >> GENERALLY, BECAUSE I KNOW YOU [25:20] DIDN COME PREPARED FOR THAT SORT OF A QUESTION, BUT IS THE PAY AS YO GO HIGHER IN THE [25:26] ENTERPRISE FUNDS BECAUSE OF THE ACCUMULATION OF REVENUE IN THE VARIOUS WATER, SEWER, AND OTHER [25:34] UTILITY AREAS LIKE SOLID WASTE? >> THAT IS SOMETHING I WOULD PROBABLY TAKE AWAY AND DEFER TO [25:40] ENTERPRISE FDS FOR, I THINK, A CONFIDENT ANSWER. >> OKAY. [25:46] AND THE LAST QUESTION I HAVE, I'M NOT SURE -- I MEAN, WE ALL [25:51] IN MINNESOTA OPERATE GENERALLY [25:58] LIMITS, SO TO THAT EXTENT, THE CHART COMPARING US TO OTHER MINNESOTA CITYS IS HELPFUL, BUT [26:03] DO YOU HAPPEN TO HAVE ANYTHING IN YOUR FILES OR OFF THE SHELF [26:10] IN TERMS OF COMPARING US WITH, SAY, SELECTED OTHER NORTHERN [26:16] CITIES BECAUSE OF THE CHALLENGES OF OUR CLIMATE FOR SOME OF OUR [26:22] INFRASTRUCTURE, I WOULD FIND THAT PROBABLY A CITY OF COMPARABLE SIZE. [26:28] >> PRESIDENT BRANDT, AT THE MOMENT WE DON'T HAVE ANYTHING OFF THE SHELF. CERTAINLY SOMETHING THAT WCAN DO. [26:33] THE INTERESTING ANALYSIS AND YEAH, WE'RE WORKING TO KIND OF BUILD OUT OUR COMPARATIVE DATABASE OF REPORTING AND [26:42] ANALYTICS. SO WE STARTED WITH THE LOCAL MINNESOTA CITIES, BUT YEAH, [26:47] PRETTY EASY COMPARISON AND ANALYSIS TO DO FOR YOU. >> OKAY. >> I GUESS I ASK TT QUESTION [26:55] JUST BECAUSE WE ARE THE -- WE ARE THE REGIONAL CENTER FOR THE TWIN CITIES, AND THEREFE, WE [27:03] HAVE A LOT OF CAPACITY BUILT IN [27:08] VARIOUS UTILITIES SET AND OUR OTHER SERVICES THAT MAYE A SMALLER CITY WOULD NOT BE [27:14] REQUIRED TO PROVIDE, BUT THAT'S JUST AN OBSERVATION, AND I THANK YOU FOR YOUR PRESENTATION. [27:19] AND IF THERE ARE NO FURTHER QUESTIONS, I WILL ASK THE CLERK TO RECEIVE AND FILEND THANK [27:24] YOU VERY MUCH FOR THE PRESENTATION. [27:31] >> OKAY. ITEM NUMBER SIX ON OUR AGENDA IS [27:36] AESOLUTION ASKING THE BOARD TO APPROVE THE HIRING OF CHRISTINA [27:46] KEIDERLING TO THE POSITION OF B.E.T. EXECUTIVE SECRETARY. MS. KEIDERLING IS IN THE ROOM [27:54] TODAY, AND I AM SURE GLAD TO STAND A FEW QUESTIONS. BU I WOULD ASK HER TO SAY A FEW [28:01] WORDS IF WE ACT FAVORABLY ON THE HIRING. I THINK I WOULD LIKE TO ASK EVEN THOUGH IT GOT ON THE AGENDA RELATIVELY LATE, AND I WONDERED [28:08] IF THE CLERKS COULD READ THE RESOLUTION FOR THE BENEFIT OF THE PUBLIC. [28:25] >> RESOLUTION 25-003, BOARD OF ESTIMATE AND TAXATION [28:31] AUTHORIZING THE PRESIDENT OF THE BOARD OF ESTIMATE AND TAXATION TO ENTER INTO AN EMPLOYMENT AGREEMENT WITH CHRISTINA [28:38] KEIDERLING FOR THE POSITION OF EXECUTIVE SECRETARY SENIOR [28:43] ADVISOR. WHEREAS, PURSUANT TO SECTION 5.2 OF THE CITY CHARTER, THE MINNEAPOLIS BOARD OF ESTIMATE [28:49] ANDAXATION OR THE BOARD IS PERMITTED TO EMPLOY AN EXECUTIVE SECRETY IN THE UNCLASSIFIED [28:58] SERVICE. AND, WHEREAS, ON FEBRUARY 8, 2024, THE BOARD APPROVED RESOLUTION 2024-002, WHICH [29:06] CREA SEARCH COMMITTEE, TO DEVELOP A JOB POSTING AND COMMENCE A SEAR [29:13] SECRETARY. AND WHEREAS, ON DECEMBER 11, 2024, THE BOARD APPROVED A [29:19] SOLUTION AUTHORIZING THE SEARCH COMMITTEE TO CREATE A JOB POSTING FOR THE POSITIO OF EXECUTIVE SECRETARY, WHICH WAS [29:25] POSTED UNDER THE TITLE OF SENIOR [29:32] ADVISOR. D WHEREAS, PURSUANT TO THE RESOLUTION T BOARD SEARCH COMMITTEE UNDERTOOK A SEAH AND [29:37] SELECTED A PREFERRED CANDIDATE FOR THE POSITION OF EXECUTIVE SECRETARY SENIOR ADVISOR. NOW, THEREFORE, BE IT RESOLVED, [29:42] BY THE MINNEAPOLIS BOARD OF ESTIMATE AND TAXATION, THAT THE [29:48] PRESIDENTED OF THE BOA IS AUTHORIZED TO ENTER AN AGREEMENT OF EMPLOYMENT WITH THE POSITION [29:54] OF EXECUTIVE SECRETARY SENIOR ADVISOR ON THE TERMS INCLUDED IN THE CONTINGENTFFER LETTER [29:59] DATED MAY 7,025. [30:05] >> THANK YOU. JUST BY WAY OF INTRODUCTION, I WOULD LIKE TO SAY THAT MS. [30:12] KEIDERLING HAS EXTENSIVE RESUME FOR HE YOUTHFULNESS. AND SHE GOT HER START WORKING IN [30:19] PUBLIC ASSISTANCE DETERMINATION WITH THE CITY AND COUNTY OF DENVER. [30:34] SHE WAS A BUDGET ANALYST FOR FISH AND WILDLIFE SERVICE AND BUDGET ANALYST FOR THE PLANT [30:40] ANIMAL AND HEALT INSPECTION SERVICE, AN AGENCY OF THE USDA. I WILL SAY THAT SHE HAD THE [30:47] FORESIGHT TO START LOOKING BEFORE THE RECENT BUDGET CUTS [30:55] THAT AFFECTED AFUS. AND ESSENTIALLY WOULD HAVE REQUIRED HER TO RELOCATE HAD SHE [31:02] CONTINUED WITH THE AGENCY AS IS THE CASE WITH A NUMBER OF OTHER EMPLOYEES IN THE AGENCY. [31:08] APPARENTLY IT IS NOT A PRIORITY OF THE FEDERAL ADMINISTRATION WE KEEP THINGS LIKE DUTCH ELM [31:16] BEETLES AND EMERALD ASH BOAR OUT OF THE U.S. ANYMORE. [31:22] SO I PRESENT THAT TO YOU. I WOULD HAVE SENT THE RESUME [31:28] AROUND. SEVERAL OF YOU WERE INVOLVED IN THE INTERVIEWS WITH HER ALONG WITH MS. DYE, BUT I WASN'T SURE [31:35] WHETHER I HAD THE ABILITY TO DO THAT SINCE WE HAD AS A SEARCH COMMITTEE TAKEN A PLEDGE OF [31:42] CONFIDENTIALITY. SO THAT'S MY INTRODUCTION. ARE THERE QUESTIONS? [31:52] >> NO QUESTIONS. DO WHAVE A MOTION? >> SO MOVED. >> SECOND. >> OKAY. WE HAVE A MOTION THAT HAS BEEN [31:57] MADE AND SECONDED. WE HAVE A PROPER MOTION BEFORE US. WITH THAT, I WILL ASK THE CLERK TO CALL THE ROLL ON THE [32:04] RESOLUTION. >> BOARD MEMBER FREY. >> AYE. >> ABEN AYE. [32:12] PAYNE, AYE. CHUGHTAI, AYE. VICE PRESIDENT PREE-STINSON, [32:18] AYE. PRESIDENT BRANDT, AYE. THERE ARE SIX AYES. >>LL RIGHT. [32:23] AND I WOULD LIKE TO BREAK A LITTLE BIT HERE FROM OUR AGENDA AND ASK MS. KEIDERLING TO [32:33] ADDRESS THE BOARD, AND SEE IF SHE CAN GET THROUGH HER ENTIRE [32:38] PRESENTATION WITHOUT USING THE WORD "S" WHICH I AM TRYING TO BREAK HER OF. >> THANK YOU, PRESIDENT BRDT. [32:44] AND THANK YOU VERY MUCH TO THE BOARD. I AM VERY EXCITED TO BE HERE. I KNOW MANY OF YOU HAVE GOTTEN A [32:49] CHANCE TO TAKE A PEAK AT MY RESUME, BUT THAT DOESN'T NECESSARILY TELL Y THE STRENGTHS OF THE POSITION. AND START BY TELLING YOU WHAT I [32:56] CAN OFFER YOU. MY TE WITH THE FEDERAL GOVERNMENT HAS GIVEN ME TWO STRONG SKILLS THAT ARE HIGHLY RELATABLE TO THE POSITION YOU [33:01] ARE LOOKING FOR. NUMBER ONE, I CAN COMPLETE INDEPENDENT RESEARCH. IT WILL BE A DIFFERENT SUBJECT [33:07] MATTER AND PREVIOUSLY THE INDEPENDENT RESEARCH SKILLS AND I'M A SELF-STARTER. IF YOU ARE LOOKING TO TRACK DOWN [33:13] INFORMATION AND MAKE SURE THAT WE HAVE A CONTINUOUS BASELINE OF KNOWLEDGE AND BOARD AND ABSOLUTELY HERE TO HELP WITH [33:18] THAT. AND THE SECOND THING I CAN OFFER YOU IS THAT I HAVE THE ABILITY TO PUT POLICY AND REGULATION TO [33:24] INTERPRET IT AND PUT IT INTO PLAIN LANGUAGE. THAT WILL BE A DIFFERENT SUBJECT MATTER THAN WHAT I WAS WORKING [33:30] ON PREVIOUSLY WITH AGRICULTURALISTS AND FOOD SCIENTISTS, BUT I HAVE THE BUILDING BLOCK SKILLS WHERE I'M [33:36] ABLE TO INTERPRET POLICY AND LEGISLATION FOR YOU AND PUT IT INTO PLAIN LANGUAGE. [33:43] WHEN I DISCOVERED THAT MY CAREER IN THE FEDERAL GOVERNMENT WAS NOT GOING TO BE TENABLE TO [33:48] CONTINUE, STARTED TO LOOK AROUND AND I BEGAN TO COURT THE CITY OF MINNEAPOLIS PRETTY AGGRESSIVELY. [33:53] AND THERE IS TWO REASONS FOR THAT. NUMBER ONE, I SO ENJOY THE MIDWEST AND MNESOTA AND MINNEAPOLIS IS THE LEADER OF [34:00] MINNESOTA. I WAS RAISED ON THE EAST CST AND THEN I WENT OUT TO THE MOUNTAIN WEST WHEN I WAS IN [34:05] COL. AND SO I THINK THAT MINNESOTA AND THE MIDWEST IN GENERAL IS SUCH A WONDERFUL HALFWAY POINT [34:11] BETWEEN THE TWO. OFF MUCH MORE RELAXED LIFE STYLE THAN YOU HAV ON THE EAST COAST AND YOU HAVE THE CULTURAL [34:17] OPPORTUNITIES YOU DON'T GET I OTHER AREAS. I HAVE SPENT THE GREATEST AMOUNT OF TIME HERE IN MINNESOTA THAN I [34:23] HAVE ANYWHERE ELSE IN MY ADULT LIFE AND I AM EXCITED TO COINUE CHOOSING MINNESOTA AND STAY HERE. [34:28] MINNEAPOLIS BEING A LEADER IN THIS STATE IS A BIG REASON WHY I WANT TO BE HERE. AND THE OTHER REASON IS BECAUSE [34:34] THE BENEFITS PACKAGE THAT COMES WITH THE CITY OF MINNESOTA OR SORRY, CITY OF MINNEAPOLIS S SO [34:40] IMPRESSIVE. I WAS LOSING A BENEFITS PACKAGE THAT I VERY MUCH USED AND WAS [34:45] SAD TO LOSE AND THE CITY OF MINNEAPOLIS HAS AN IMPRESSIVE BENEFI PACKAGE FOR THE EMPLOYEES. [34:50] I THINK IT IS SOMETHING THE CITY SHOULD BE VERY PROUD OF BECAUSE IT NOT ONLY SHOWS YOUR VALUES [34:55] AND HOW MUCH YOU ARE WILLING TO VEST IN EMPLOYEES. I AM EXCITED TO BE ONE AND I GREATLY APPRECIATE THE OPPORTUNITY. >> THANK YOU. [35:01] DO MY COLLEAGUES HAVE ANY QUESTIONS? [35:06] OKAY. I THINK IT'S A TRIBUTE TO THEM AS WELL THAT BENEFIT PACKAGE EXISTS. [35:12] AND I KNOW THERE WAS SOME CONSCIOUS EFFORT AFTER THE [35:17] EFFECTS OF THE PANDEC ON EMPLOYEES AND THE BELT TIGHTENING THAT HADO HAPPEN [35:23] THERE TO TRY AND MAKE THIS A GOOD PLACE FOR PEOPLE TO WORK AND CONTINUE TO BE A GOOD PLACE [35:29] FOR PEOPLE TO WORK. MR. FREY. >> MR. PRESIDENT, THAT WAS AN [35:36] IMPRESSIVE OPENING PRESENTATION, AND THANK YOU. YES, WE DO INDEED BENEFITS PACKAGE. [35:43] I AM CURIOUS, WHERE ARE YOU FROM ON THE EAST COAST? >> ARLINGTON, VIRGINIA, SUBURB OF WASHINGTON, D.C. [35:49] >> THAT IS GREAT. >> THANK YOU. >> ALL RIGHT. SEEING NO FURTHER DISCUSSION, [35:56] WE'LL MOVE TO THE NEXT ITEM -- >> THANK YOU. >> THANK YOU, MS. KEIDERLG. [36:02] >> ANNOUNCEMENTS ARE NEXT. DO MY COLLEAGUES HAVE A UPDATES? [36:08] COMMISSIONER PREE-STINSON. >> JUST VERY QUICKLY TO CLARIFY, OUR AMAZING NEW STAFFER STARTS [36:15] TOMORROW. AND JUST TO DIFFERENTIATE TO MAKE SURE WE'LLLL CLEAR THAT WE DO STILL HAVE TO VOTE ON THE [36:21] WORK PLAN, WHICH WE HAD A VERSION WE LOOKED AT AND TALKED ABOUT, WHICH IS SEPARATE FROM ON [36:26] BOARDING. WA TO MAKE SURE EVERYONE IS CLEAR ON THAT. I WAS JOTTING DOWN THINGS BUT JUST QUICKRY THINGS THAT ON [36:32] BOARDING WOULD INCLUDE EVERYTHING THAT ANY OTHER CITY WOULD HAVE AND TOUR OF FACILITIES, GENERAL H.R. [36:37] TRAINING, COMMUNICATIONS AND DATA SECURITY, LIMS, OPEN MEETING LAWS, THOSE TYPE OF [36:43] THINGS. PRIORITIZING ONE TO ONE BOARD MEMBERS AND PRB STAFF AND [36:48] MEETING WITH CITY CLERK AND FINANCE OFFICE AND THOSE TYPES OF THING WILLS TRAITION INTO THE WORK PLAN, SO I THINK THAT [36:54] BY THE TIME WE GET TO THE NEXT MEETING, WE SHOULD BE PHASING OUT OF THIS KIND OF INITIAL ON [37:00] BOARDING AND MOVING MORE INTO THE WORK PLAN PHASE AND I JUST WANTED TO ADD THAT AND MAKE SURE [37:05] WE WERE IN AGREEMENT THAT WE DON'T NEED TO VOTE ON ON BOARDING. WE'RE JUST TALKING ABOUT GENERAL ON BOARDING OF A STAFFER AS WE [37:12] WOULD FOR THE POSITION AT THE CITY. >> THANK YOU, COMMISSIONER PREE-STINSON. I FORGOT TO ADD THAT I WAS GOING [37:18] TO ASK THE BOARD'S LEAVE TO NOT [37:24] DIRECT OUR NEW EMPLOYEE ON ANY PROJECT SPECIFIC RESEARCH, BUT RATHER JUST GIVE HER A GENERAL [37:31] PLAN OF ATTACK FOR HOW TO APPROACH INVOLVING YOURSELF IN [37:38] THE CITY EERPRISE AND TO BACKGROUND YOURSELF IN THE KIND OF RESEARCH THAT WILL BE [37:43] VAABLE IN HER POSITION. AND DOWN THE ROAD. IF THAT IS OKAY, WE WILL GO [37:49] AHEAD WITH THAT AS THE WORK PLAN.ING AND WORK ON THE AND PERHAPS -- [37:56] PERHAPST WOULD BE APPROPRIATE FOR MS. KEIDERLING TO START CONTACTING ONCE SHE FEELS SHE [38:04] CONTACTING BOARD MEMBERS FOR RT WHAT THE PRIORITIES WOULD BE FOR A WORK PLAN. AND GET US A LIST THATE CAN MAYBE BRING UP AT THE NEXT [38:11] MEETING. AND SET PRIORITIES SO THAT WE'RE ALL ON THE SAME PAGE ON HOW SHE SPENDS HER TIME. [38:18] IS THAT AGREEABLE? COMMISSIONER PREE-STINSON. >> I WOULD SAY THAT WE SHOULD VOTE ON THE ACTUAL WORK PLAN AT [38:23] THE JUNE 11 MEETING, SO WE SHOULD PLAN TO HAVE THAT READY. AND I WOULD HOPE THAT WE WOULD [38:30] CO-CREATE THAT WITH MS. KEIDERLING SO THAT IT'S REPRESENTATIVE OF WHAT WE NEED D ALSO WE'RE READY TO GO AND [38:36] THERE IS NOT ANY CONFUSION OR WAITING. WE SHOULD PLAN OFFLINE ANY MEETINGS THAT WE NEED TO HAVE [38:41] AND ALSO TO SUPPORT YOU IN THE ROLE OF SUPERVISING THIS POSITION, PRESIDENT BRANDT, WHICH I'M HAPPY TO DO THATO [38:48] MAKE SURE WE HAVE A SMOOTH TRANSITION FROM ONBOARDING TO WORK PLAN. [38:53] >> THANK YOU, COMMISSIONER PREE-SNSON. ANY OTHER DISCUSSION? SEEING NONE, WE HAVE COMPLETED ALL BUSINESS TO COME BEFORE US TODAY [39:00] AND WITUT OBJECTION, WE STAND ADJOURNED. [GAVEL]. .