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Video-1: youtube.com/watch?v=_QV_fCXOylQ

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right here in Northport. >> Whether you're looking for family-friendly activities, ways to get involved, or helpful home and garden tips, Northport Living has you covered. With breaking news, heartfelt stories, or practical tips, the Northport Podcast Network is your go-to source for all

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things Northport. >> Make sure to subscribe to the Northport Podcast Network wherever you listen, and join us as we celebrate and connect with our amazing community. >> Northport Now will be released bi-weekly. Northport Stories and Living will be monthly. >> A schedule will be available on social

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media and our website. Hello everyone, Devon Pulis here, aquatics manager. Welcome to my crib. We have fun here at the crib. Programs included. Become a pass member. Play all year long. Payer at the crib. We do have

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rules. We take all payments here at the crib. Apple Pay, Mastercard, Visa, cash. You pay right here to enjoy the crib. So, enter through the gate. Childp proof. Most adult proof

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shade. What's that? Our newly installed sun shade available for rent all season long. Here at my crib, you don't have to worry about a place to find a seat. We've added more chairs than ever here at the crib. You're coming to enjoy the cribs

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and you got little ones. We got the perfect area for them. Our Pelican playground, newly painted, fresh floor, fresh palm tree. It's looking clean. Looking for a place to work your upper body? Take a shot at here at our Stingray shuffle.

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Looking to relax? I got you covered here with our lazy river. Living more on the adventurous side? Check out the slides right behind me. Newly painted. All offer something individual and unique. Check it out.

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Check out the main pool kept at a wonderful 84° all year long. I just want you to have a good time. We have safety covered. Lifeguards here staffed all day, every day when we're

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open for you to enjoy. Concession is open. Pizza, pretzels, nachos, ice cream. We got it all. My crib is your crib. Looking forward to seeing you here. >> To the vine.

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>> Duty calls. Hello, my name is Jerome Fletcher, city manager of the city of Northport. I'm at the Northport Aquatic Center. I'm on the job today. Let's go. Good morning, Jessie. Good, sir. Nice to see you. Thanks for having me today. >> Of course. We're going to go through our

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opening checklist for this morning to make sure that the facility is safe and operational. >> All right, sounds good. Let's do it. Before anything else, the team walks the entire area to make sure everything is clean and in good shape. >> Our next part of our task is to make sure that our body of water is one

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clear. The water Morning. Today is Monday, June 1st, 2026. It's 10:00 a.m. We're in the city chambers and I call the city commissioner workshop meeting to order. Commissioners present are Commissioner Dval, Commissioner Stokes, Mayor Emerich, Vice

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Mayor Langden, and Commissioner Pro. There is a quorum present for this meeting. Also present are city manager Fletcher, city attorney Fuino, Deputy City Clerk Powell, Board Specialist Linder, Deputy Police Chief Morales, and

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Deputy Fire Chief Hurley. I am requesting that all commissioners, public participants, and staff maintain order into quorum throughout this meeting. City Commission policy 2021-03 states that attendees shall refrain from

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engaging in personal attacks and boisterous, immaterial, inflammatory, obscene, profane, or disorderly conduct. Additionally, meeting attendees must refrain from obscene, profane, or disorderly conduct, including hand

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clapping, yelling, and similar demonstrations. All of which all of which deserves the peace and good of the order of the meeting. Thank you. I'm going to call on Miss Linder. Will you lead us in the pledge today, please?

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>> I pledge allegiance >> to the flag of the United States of America and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all. Thank you, city clerk. Public comment.

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>> No public comment, sir. >> All right, moving on to presentations. Presentation regarding Wall and Park fiscal impacts for the city of Northport. City manager, this is your item, sir. >> Thank you, Mr. Mayor. Uh, today the city commission will receive a presentation

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from Mr. John Sixie, our senior vice president of land development at Wellinger Park regarding the fiscal impacts of the Wellen Park development on the city of Northport. Thank you, sir. You >> ready? >> Yep.

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>> John Lzinski, senior vice president, Wellen Park. Is that speaker on? >> Speaker on, man. >> Yes, sir. >> All right. Just didn't hear it. That's all. Uh, we're here today to present our fiscal impact study, and to kind of give

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you an overview of Wellen Park, the status of where we're at today, where we're going. You know, I've seen uh things posted that are questions, things concerns. So, what I'd like to just talk about for five to 10 minutes.

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I could not time this. So you guys know everything's off the cuff and I'm going to turn it over to the Stantech consulting team out of Tampa who prepared the fiscal impact study. And once they come up here, they're going to take you through their slide presentation

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and explain to you the calculations. What that study does is looks at Wellen Park today and looks at Wellen Park when we're done, which includes the Winchester property and how it affects the city's and the county's fiscal

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standings and operations. I believe you will find that our results are pretty darn positive for both the city and the county. And they're positive for a number of reasons. They will take you through that, but beforehand, I'd like just to start and explain

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To those who don't know Wellen Park, have not worked with myself or our team, Wellland Park takes great pride in being a developer that is a team player with the city, the county, and the school

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district. We fund our improvements upfront. Our roads are in place before residents get there. West Wheels improvement district obviously is an integral part of that.

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But what people don't realize is we've extend I came here in seven years ago almost to the date. Since then we have not extended a single public road that issued bonds in unit one which covers which is the property that covers all

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the city of Northport. What that means is we have not assessed a single bond on an existing homeowner for the extensions of the main roads, West Villages Parkway, Play Claymore, Prao or

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Maninnesota Beach Road. We've been able to internally fi finance those. I was able to determine we can build those roads roughly 30% cheaper than if we went out to with the Westfields Improvement District and bid those in a

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public bid setting. I.e. we can negotiate with multiple contractors to get the best value since West Village's improvement district and well park started. I just like to explain a few things what we've

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done and participated in which people may not realize way back when long before I ever heard of West Villages. West Village Improvement District participated with the county and the state for the improvements of the River

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Road US41 intersection. We funded over $2 million of that improvement over 20 years ago. We constructed the southwest water pump station which is basically right next to

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the state college has water groundwater storage there and pumping capacity to bring water from the city and to the city and provide pressures. We constructed a water treatment plant.

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Initial size was 2 million gallons but the backbone is in place for a 4 million gallon facility. We constructed the wastewater treatment plant. Again, a facility built initially for 2 million gallons a day, expandable to four plus million gallons a day. The

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backbone was in place as part of the utility agreement we have with the city of Northport. We are obligated every two years to do an updated master plan for the water system and the sewer system. We

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completed that process earlier this year for both water and sewer, including what that encompasses and includes the Winchester property. That study led us to say, "Hey, we got to get ready to start expanding the

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wastewater treatment plant." West Village Improvement District approved in the May meeting a contract with Kimbley Horn to start the design for that expansion. and that expansion will be in place by early 2029.

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We've also very proudly built the public safety building at the corner of Prao and US41 and that's a unique building. I don't believe you have anything like that in the city. It houses the city of Northport police substation.

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Now, that substation is approximately 6,000 square ft and a very large garage to store cones, message boards, and things like that that they need for crowd management, traffic management at

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Brave Stadium and other events in Northport. That facility, well, 6,000 square ft pales in comparison to their main building, was four times larger than was initially contemplated

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by the general principles of agreement that predet predated the post annexation agreement. It got to be four times bigger because Chief Garrison, Deputy Chief Morales said, "Hey,

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1500 square feet. It won't cut it for the size of area we have to work with in L Park." So, we mutually work together on that building. But the biggest part of that public safety building is fire. It houses city of Northport fire station

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86 but it also houses the county fire department. So in one single facility we can certain we provided the ability for the city and the county to handle fire EMS as well as

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police. You will see in the next week, I believe on your agenda, we will be before you getting ready to turn over fire station number 87, which is at the souththeast corner of Prao and Matinnesota Beach

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Road. That'll be our second fire station in three years that we're turning over. Again, when we build these facilities, we not only construct the facilities in the case of the fire station, we give you all the FFN down to the utensils.

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We we fund those buildings. We give you the property for nothing. We do get repay from impact fees collected solely within Wellen Park. So if somebody look at the math, at the end of the day, you

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probably pay about 50 cents on the dollar for the value you get. Since there's zero value in the land and you're not paying for dollars, impact fees, it'll typically pay back us over five to seven years the original principal now. 7% interest, you're

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pretty much would double that if you had a home mortgage. But again, that was part of what we agreed to up front and being of good neighbors to the city of Northport. We've also constructed roughly a 35 acre

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park, blue heron dog park. And we just completed as part of fire station 87 a 1 acre hot lot with small ball field informal for the children to play. We worked with

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Chief Titus and that station park is actually themed with fire station. It has been so immensely successful that we have children from not only Wallen Park but all parts of Northport coming

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and we had to actually tr quadruple the parking. We just finished it. Cut in parking along Maninnesota Beach Road because it's so successful. And the interesting thing is in our m uh April meeting at the Westfields Improvement District, we had four

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residents from a neighboring community come and said there's so much noise there from kids playing on the tower and things. We need some noise retention. Quite frankly, I think that's a great thing that a park is so successful

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that we have to worry about kids playing and being joyful in a park instead of being on their laptops or their phones. West Village Improvement District, I mentioned a couple times here, owns and

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maintains all the roadways in Northport in Wellen Park. That means is the city of Northport does not invest in their general fund any in the during the year to maintain any of those roadways. Those

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roadways are West Vill's Parkway. Cradle, Laymore, Maninnesota Beach Road are the main ones. There smaller segments like the segment off 41 that services the wastewater treatment plant. a couple

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pieces that serve multiple properties. Also, within those roadways, the city does have water manes and sewer mains. City takes ownership of those mains after we've completed them and they've been inspected and obviously maintenance

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of that long term will be the city's obligation, but that's part of the water and wastewater rate system. We also have created our own master irrigation system kind of unique in the

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state. We manage to irrigate everything in the West Village improvement district by a combination of deep wells that the developer owns, stored storm water, which is why over the last seven years,

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we've started collecting building bigger storm basins so we can collect and hold more storm water back for those dry periods and reclaim. Right now we get about 600 to 700,000 gallons a day on average

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from the wastewater treatment plant that's there in Wellen Park and we purchase that from the city mix it with our storm water and our wellwater for irrigation. We're working with the city on looking at opportunities

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to extend a main from your legacy plant to the wastewater plant in Wellen Park to possibly use roughly 1.8 million gallons a day of reclaim that you put down in the deep injection well. That's

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a project hopefully we can bring to you in the next year or so as we get past some preliminary engineering and look at that analysis, but that could be another win-win. We just don't work with the city of Northport. We're also been cooperative with

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Sarasota County. We participate, we were requested in TW, let me back up first. Before I got here, Wellen Park provided 90 acres of rideway for the south future South River Road

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improvement. So, as the county starts looking at engineering, which they approached us just about two and a half years ago and asked us would we take the lead on engineering the South River Road improvements. Now, that South River Road

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improvements is really the hurricane evacuation route. It's River Road from 41 to Winchester and then Winchester from River Road to the county line. being cooperative.

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We said yes and we worked out a deal with them where because they have federal funds in that road. We're doing it through the West Village Improvement District with the backing of Wellen Park. We today have been the only entity that have

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invested any money in South River Road. We are spending approximately $7.3 million on the engineering and permit River Road. We believe we'll have those permits in hand no later than Labor Day.

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It's on county agenda tomorrow to approve the wetland mitigation agreement which will allow for our swift mud permit and our Army Corps permit which are one of the last remaining items to do. We worked with the city on North River

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Road. When the city agreed to participate in some of the costs of North River Road, 67% of what the city kick paid to the county for the North River Road improvements came from Wellland Park

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traffic impact fees. Well, 67% is a disproportionately high number because at that time if one looked at the traffic numbers about 90% of the people using River Road came from the

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east on 41 making a right turn. But we looked at it and we felt in the future Wellland Park would be affecting that change that number and we agreed with leadership at that point at city that

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67% or 4 million out of the 6 million was a fair number. We worked very hard with Sarasota school district. They purchased 130 acres from us for Wellen Park High School and a future K

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through8 site. We work through not only the land deal, but we work with them hand in hand through the construction. I'm real proud to say that's going to be a facility everybody in the city of Northport can be proud of, but it's

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something we hold dearly to because the other thing we did that helped make that facility realistic was the school district prior to that had purchased a 60 acre site

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just north of where Cool Today park is. They bought it thinking they'd put a K through8 site there. Well, they didn't anticipate we were going to have a major league baseball team in Wellen Park right across the street.

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On that property, there was a 20 or 30 year, I don't remember, deed restriction that can only be used for school. And that came from obviously when our predecessor sold them the site as part of the high school and elementary K through eight site. We

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agreed to buy that property back at the appraised value even though the appraised value didn't take into account that it could only be used for schools. We're going to end that piece to our village E and we've been working with

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staff on an updated for that amendment. But that purchase of that 60 acres allow helped the school district purchase 130 acres from us that has now become the Wellland Park High School and in the future will be a K through8 site also.

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So I again we take great pride in creating a community that works the developer works with the city, the county and the school district. One of the challenges we received about

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two years ago and it's kind of led to this whole process where we're starting now is the Winchester holdings were always planned to be developed in the county. We secured our critical area

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plan approval in April 21 for 8,999 residential units, 200,000 square ft of commercial or office space. However, in Jan on January 31st, 2024,

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the Ingwood Water District posted a new water study. Before that, they represented multiple times every year for the prior six years. They had all the water capacity they needed. All we had to do is take our pipe and tie into their pipe. Well,

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that master plan that they posted showed that wasn't the case. They would have to invest $144 million over the next two years on water improvements, which they have done none. But more importantly, they were going to be 1.5

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million gallons a day short of source water. We had to take our own future into our own hands. Working with city leadership and working with the Peace River Water Authority,

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we came to this board in November 24 with an agreement to secure 2 million additional gallons of water a day from Peace River. city did the agreement with Peace River and currently did another separate

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agreement with the West Village improvement district in Wellen Park to buy that 2 million gallons a day. That is in the new facility they are just starting construction with. Estimated cost was $48 million. That agreement basically says Rome Park

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that's yours. You get the water, you're paying the bill, but we mutually agreed upon it. That was one of the reasons we have this ability to bring Winchester into the city. We've been able to include that 2 million gallons of water in our last

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water master plan. And it's the kind of planning ahead of time so we have the improvements and we're not rushing to figure out who's doing what later on. Other than improvements, other things

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I'm greatly proud of and I think distinguishes Wellland Park as a different type of developer. When we were doing our downtown improvement, we invested over $1.3 million in the preservation and relocation of heritage

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trees. Anyone drives downtown coming off 41, you drive past the 26 different heritage trees that we moved. the largest being a 96inch tree as kind of the anchor for downtown.

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We had at the end of the year our environmental consultant who's done almost every permit for us over the last 20 years and I asked her Monarch Ecology.

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I said prepare me a summary of the first 10 villages we've developed. How many acres? How many total wetlands? And what was our impact on those wetlands? Roughly 7,900 acres have been

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developed. Roughly 1,400 acres of wetlands. We're in that 79 ac 7 7,900 acres. To date, we have impacted I want this number exactly. We've impacted a total of 30.74

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acres out of 1,288.01 acres. We've impacted less than 2.39 acres of wetland. A lot of developers would have impacted more. We've tried to preserve the wetlands, work around them, and make

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those amenities in our communities. And partly because of those efforts. We've got a lot more open space than the city code requires. We're required to have 30% open space. Oh. At the same time, I asked one of our

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team members. I said, Trevor, do the same thing for each plat on open space through our first 10 villages, 8,173.4 acres platted.

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We have a total open space of 4,50.21 acres. Now, Trevor only did this to zero decimal places. I would have loved to give this to you in two decimal places, but we're at 50% open space,

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which I think says a lot for us. But the real change that's evolved from the day the city of Northport approved our annexation is some of the philosophy.

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We are approved for approximately 22,500 unit residential units within the current city of Northport boundaries through preservation of open space through a change in how we were going to

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approach the market. Originally was contemplated we'd have 50ft lots and multifamily. Well, today we go from 40 foot single family lots up to 90 foot lots. We have single family product that goes

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from roughly 4 to $500,000 on the low end to approaching 4 million on the high end. We've created a true mixeduse community from a residential standpoint and we've been able to deliver

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more nonresidential property, commercial space, office space. Conservatively, I project over 5.1 million square ft of office

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space, commercial space, and that is conservative. I will tell you that is very conservative. We have the we're proud to have two hospital facilities properties on our within Wellen Park. This commission in the last

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year and a half approved uh the SMH 28 acres. We brought that in. We worked with them to include them in the village EVDP. They're approved for an F of 3.0.

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I didn't use 3.0 F in my calculation. down the road, less than a mile away, HCA's already built their emergency room and is looking the long term to do a 250 bed hospital. Again, great anchors for our community.

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We bring Winchester in, as I said, Winchester was approved for 8,999 residential units, which is great. And that you know four or five years ago that was approved when nobody realized at that time when we got

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down to today and we have developed 10 of 12 villages we are going to be hardressed to hit 16,000 to 16,500 residential units in the city of Northport when that number is going

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to be affected probably to the lower end because we're working with staff on some exciting opportunities for a regional park. It's something very new and is moving very quickly. Something you will start hearing about hopefully in the

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next 30 to 45 days. If we're able to bring that in, it will give us something that Northport doesn't have anywhere. South County really doesn't ha have it. And it's an opportunity. It'll lower our

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density, but on the flip side, it'll give us an opportunity for some adjoining commercial spaces, restaurants, hotels that could be used on this uh facility. with 16,000 units and knowing what we

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have looked at and planned for in Winchester, we believe even with the Winchester property annexation, we probably are within a,000 units plus or minus of the original density approved for Wellen Park. I.e. I think we're going to

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be somewhere between 23,000 to 23,500 total units even with Winchester added. And I have said and I'm proud to say Wellen Park is kind of the perfect storm

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for the city of Northport. When I got here, there was three VDPs going through the process and the gentleman handling the entitlements would not work with the planning department on a lot of things.

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It was envisioned the homes would be about $400,000 and one of those neighborhoods because I met with staff between those two public hearings and one of those neighborhoods actually is averaging close to a million dollars.

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So what we've done is our density is roughly 25% lower and approved. Our values are roughly 50 to 100% higher than previously approved. And our non-residential have been increased. So from a city tax standpoint, revenue

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tax bill, we're the perfect storm. We're proud of that. We want to keep that going. And to that end, we asked in J late January the Stantech team. You got a bunch of economists up in Tampa

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that do things that I don't really understand, but they rub their box and put data in and come out with some significant answers. So, I'm going to turn them over over to them. You're done hearing from me for the day, except I'll have one thing at the end. A little

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surprise for you. They will come and answer question. They will give a presentation. They will answer any and all questions that you may have for that. I believe I have been an open book with each and every one of you for the last seven years and I will

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continue to be that way. So please enjoy what you see, hear from them, look at it, critique it, ask questions. Patrick and Jeremy can take the heat. And with that, I'm going to turn it over

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to Patrick Loose from Stackup. Hi everyone. Uh Patrick Loose, senior economist with Stantech. Uh with me today is Jeremy Bess, also senior economist at Stantech. kind of tag teaming a a deep dive presentation for you all just digging into the raw data, the analysis that

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we've done to try and quantify the fiscal and economic impacts surrounding Wellen Park and Winchester Ranch as they come into play and into the fold for the city's tax base. Effectively, there's three core components of our analysis. Hopefully, you all don't uh get too

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offended by the amount of data that we have today. There's a lot of charts, there's a lot of information. It has been sourced primarily from the Census Bureau, from the Bureau of Labor Statistics, from Sarasota County Property Appraiser, and from John and his team uh at Wellen Park, giving us an understanding of what the buildout looks

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like. We do want to make sure we're cognizant of everyone's time today. There is a market study that we'll get into first that contextualizes what has been going on in the broader county, what's been going on in the city, and even more subreionally in and around Wellen Park to get an understanding of

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well, is there capacity for further growth assumption and absorption of that growth both from the residential and non-residential side of the equation and making sure that we've level set really the underlying economic uh stability within the surrounding area. We want to

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make sure that we provide the appropriate context uh within that market study. So there's some key takeaways that feed our broader more economic analysis. One of the economic analysis is the fiscal impact. Thinking about what it means from not only the tax base, but from the cost presented to

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both the city and the county as it relates to the ongoing development and growth of Wellland Park and Winchester Ranch. We've quantified that to give an estimate of what we see at full buildout and want to present those findings today. As John mentioned, please ask

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questions, poke holes, and make sure that we kind of use this as an opportunity to evaluate where we currently sit with our analysis. On top of that, we've also wanted to quantify the economic impacts of the construction phase of the development. basically the

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understanding that in order to develop 22,500 residential units and millions of square feet of non-residential construction takes construction workers and new income that then trickles to the economy. But we also want to consider what does that mean once we're at full buildout and how that looks from an

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economic impact standpoint from new revenues, new jobs, and new output for the local community. So, just wanted to level set with where we're getting uh ourselves into today and wanted to just kind of highlight again a lot of words, a lot of data. I don't want to read the

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slides directly off at you. Just wanted to kind of hit those core highlights. Basically, we are highlighting the present or sorry, the historical, the present, and the future uh development of Wellen Park and Winchester Ranch into the city of Northport. understanding what that land annexation looks like

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from the fiscal and economic implications. As I mentioned, that market study that we conducted just contextualizes the local economy at the county level, city level, and subregional, the zip code level. The fiscal impacts that we're going to look at will uh quantify annually the impact

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to the general government's budgets both at the city level and the county level making sure that we are providing clarity as to are the new property tax revenues generated covering the costs that they generally incur. We'll frame that out as a general ratio and we'll

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kind of continue to point this out as we go through today's presentation, but anything above one means that revenues are exceeding costs. Anything below one would mean that costs are exceeding revenue. So that one is kind of that initial bent uh baseline uh premise there. And then economic impacts, fiscal

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and economic impacts sound very similar, but they present two different findings. The fiscal side about the general government and the funds. The economic impact more about the local economy, more about jobs, access, and output and wage growth. And so we want to make sure

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that we highlight those as well. So just kind of level setting with anyone in the room. We are looking at just the broader county in blue. We're looking at the zip code. That's kind of the level of uh market data that we can access, the zip code that Wellen Park

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generally exists within. And then the green area is the city of Northport. We're going to go into that geographical context for each kind of layer of our analysis whether we're talking about local construction activity, local wages and what have.

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So do a lot of level setting here but like to kind of not bury the lead. If we look at just the numbers associated with each one of those analyses and just give some highlevel takeaways. We talk about just the market study again contextualizing the local economy. We

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are looking at about 460,000 people in the broader county that has experienced in the past decade that the data is available about 17% growth. This information coming from the census bureau median household income around

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$83,000 and when we talk about the projections from Wellmar and that's what we're doing is we are isolating just Wellen Park. We are not projecting out any other growth uh in and around the city and and around the county. We were just trying to carve

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out what is going on in Wellland Park and Winchester Ranch and what does that mean for the local community fiscal impacts when we talk about that full buildout that John was visioning and kind of highlighting. What sort of property taxable value are we looking

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at? And so what we did is we evaluated the Sarasota County property appraiser database, zoomed into the existing structures within Wellen Park and extrapolated what present-day market value is for taxable that is taxable. No, not just the market value but the

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taxable value that will be incurred uh on the overall general fund. And that is projected in present-day dollars or 2025 is when the study is kind of treating as the present day environment at 8.8 8 billion that is agnostic of any

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inflationary or property growth values that would take place between now and full buildout. With the general government budget, we are expecting about a $515 uh million cumulative net service uh surplus and that's cumulative both between the city

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and the county. When we talk about the cost recovery ratio, it's about 1.39. And that's that kind of number that we continue to home in on to make sure that we are evaluating does this new development cover its cost. Anything above one means that it covers its cost.

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So over the full buildout period uh and the in between years, the cumulative buildout is about a 1.39 1.4 meaning about 40% over recovery of its cost. When we look at just the individual years uh not just the historical that

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has happened and not just the present day but into the future that will generally fl uh fluctuate upwards closer to about 1.6 6 to 1.97. And then the economic impact analysis, we are talking about what is the level

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of overall employment that is projected at buildout. And the way these economic impact analyses work is it talks about new employment. And it's not just directly related to the county uh or to the new developments, but it is the indirect effects and the induced

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effects. So the direct effects will be hey we have new folks moving into town and these folks come in and they have jobs and they create new jobs by new spending that they're going to trickle through the economy and there's indirect effects that are more support type jobs uh if we talk about an employment

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structure and then induced effects which is kind of the residual effects that happen to the broader community when we think about new restaurants and uh uh places like that opening up uh output when we talk about output that is almost like a prox proxy for that kind of core

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macroeconomic figure the the GDP gross domestic product output just says how much new economic activity occurs uh as a result and at full buildout our fiscal our impact here is estimated around $7.6 6

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billion labor income about $5.18 billion and then total employment supported through just the construction period not at full buildout but between now and full buildout construction period has its own fiscal impact separate at that than that stabilized uh amount. So that

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68,000 is just to support the construction activity that goes on to achieve and arrive at full buildout. So, I know we're spraying the whole economic fire hose. I hope we're okay to kind of start getting a little bit more

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granular into the numbers. Like I said, we don't want to just read off the slides at you. We just want to provide some highlevel takeaways. There's a lot of data on here. Uh hopefully part of being part of the agenda package it that can live and breathe and have access to all this information and data that we're providing here today. And I I think if

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we were to, you know, think about the market study, which again is just designed to frame out, right, what what where we're at and and again to to Patrick's point, can we, you know, absorb the potential buildout that we're talking about? You think about it maybe broken down into, you know, four buckets here. Where are population and

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demographic trends going? Does it pair well with income trends? So on and so forth. And then we say, okay, hey, what is going on in the local economy around construction? It's kind of a a heavy topic in the last couple years as it relates to, you know, affordability

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challenges and things like that, but we want to understand if what's going on here is any, you know, more unique than maybe what's going on at the state level or the national level. And then understanding, yes, well, is there land availability? Uh, and how is it being used? And again, thinking about what

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that might look like in the future. So, again, to Patrick's point, there's going to be a lot of a lot of numbers on each one of these slides. if if it helps, you know, we try to put some some again some overall summary here. Why are we looking at, you know, income percent change over

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time? Again, we talked about Sarasota County having a 17% growth rate. Well, taking that a step further and actually looking at Northport and then again, even further, thinking about that that zip code level, you can see that a lot of that growth is actually stemming from uh what's going on here in Northport.

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And then of course a significant percentage of growth going on in all the new buildout that we're talking about within this zip code here. And again I think we put this out there to say well great we need that momentum right to to grow communities and and is that

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momentum you know a concern? And from again from this perspective we'd say oh it's it's actually good growth right? This isn't a community that's that's stagnant or stale. Uh these are obviously long-term issues when we think about it from an economics perspective.

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um we have this momentum to build uh you know properties and and again the 22,500 that we'd be looking at in the future. again contextualizing the environment here to see right are there are there headwinds that we're dealing with and then from that perspective no but then

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we have to say well is the population that that we're talking about you know have the the the I guess demographic profile that maybe we would you know want or to sustain a a healthy community and then you can start talking about right uh general affordability costs

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poverty rates and and again the point we're putting here is no real alarm bells here this isn't uh we're not talking about, you know, Northport or, of course, the the zip code that we're really honing in on. We're not talking about an area that that is putting up, you know, red flags for uh, you know,

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human services or or additional human services needed for areas that would have high levels of poverty or or or maybe potentially, you know, lower income. And then, of course, that it's going to bleed right into this, which is now we have to contextualize where

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income is. uh and yeah, generally speaking, uh above the state level in in in not only the uh the the zip code there, but also in Northport. And the reason why we're putting that out there is because that once again goes right into the idea of affordability, right? Can we afford the homes that we're

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talking about uh being built and no doubt we're talking about median household income, plenty of room on on on the upper end that we're talking about with with John's point around larger homes and and and bigger properties in terms of cost, I should say. Uh so when we see these numbers,

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let's understand that's kind of on media and there's there's some distribution if you will that we know exists right across the country. But that income inequality that I'm maybe referencing is again nothing out of necessarily the

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ordinary in the area. We're not seeing you know this area be any more unequal if you will from a what they call a Jinny index uh that were compared to the state. And all that is is again just looking for red flags to say is there an income distribution uh issue that would

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maybe causes this median income to be you know more elevated than not. And the short answer is no. We're not really quite uh quite seeing you know any any issues there. >> Talking about just the job market too trying to frame out what sort of levels of employment should we be considering

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for future growth. Again feeding into that economic impact analysis. We wanted to create a job profile. So that we have just an average mix of jobs that we would assume to come into the future. We have not done a formal forecast on the

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manufacturing or real estate or public administration job growth that would occur as a result. We've just assumed the same average profile going out into the future. So this kind of frames that out again thinking about contextualizing it to just the broader uh state, county,

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and city level context very much in sync when we talk about that unemployment rate. that's existed over the past 10 years on average. Uh very much in alignment again thinking about looking at the construction employment in the city of Northport to accommodate all that level of growth that has occurred.

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We've seen big growth in the construction environment. >> I'll even say right when we think about again what's going on maybe more granular against the state, we would actually say that we actually have in this area lower levels of of unemployment than than the state has.

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>> I think Yeah. Go ahead. >> We do this all the time. We uh we just every each one of us wants to talk first. >> Foke each other. Who can talk? >> So when we talk about just the macroeconomy or that gross domestic product, the output number that I referred to contextualizing what we see

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in the local environment, the GDP is about $ 36 billion. On a per person basis in the county, it's about 78,000. And again, think about that distribution between services and goods and general government uh spelled out there. uh

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since 2015 or from 2015 to 2014, GDP in Sarasota County has grown by almost 100%. So meaning the the size of the pie or the size of the economic pie in the county has nearly doubled in just 10 years. Uh that outpaces the state of

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Florida which has grown by about 88%. Um that goods producing industry expanded about 112.4%. And basically all this is just showing is that it's growing. The region is growing and it's diversifying. And that's good tenants and good uh long-term perspectives for any of that

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non-residential construction that might come into play or that is expected to come into play as a result of Wellen Park and Winchester Ranch. >> Yeah. Bingo. We're talking about all these goods and services you need, you know, you need to build out some of that non-residential space. And this again contextualizes the idea that says, yes,

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okay, we're we're growing here. need for these buildings are it will will start to be important and I guess that that tails into you know a small a small glimpse into the construction activity at least on the residential side this chart simply put is an opportunity for us to actually compare what's going on

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and maybe the Sarasota County uh in terms of total housing units and on the right hand side just looking at Florida I'm doing this not necessarily to look at magnitudes I'm trying to understand just general trends trying to understand if there are any outliers that we need

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to be, you know, more aware of or maybe, you know, alarmed by. And again, short answer there is, well, no, right? There's a lot more growth going on, uh, in terms of, um, you know, unit growth in Sarasota County than the state. Again, looking at about 15.8 for the

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county, state level, about 12.8%. That's over a 10-year period. But again, just thinking about this from a uh, you know, uh, any headwinds or or issues going on here. I think one thing to call call out is you know vacancy rates across this area and this is again similar across

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the state but vacancy rates in this area are are a bit more elevated. Now, I think the the caveat there is is very important. There there are a lot of um uh seasonal housing that goes on in this area. And if you're not present during

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the the census polling, uh you know, you count as vacant, even though you do own the home, you just don't use it uh the entire time, right? You were gone during the season that they came down and actually did did these uh what what again the community survey studies that that we're talking about. So, I think

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that's important when we see these slightly elevated uh levels of vacancy rates. I think understanding well what this area has is a little bit more unique than than maybe the the the rest of Florida. Uh and then drilling this a little bit further, kind of the rounding out the last piece of the construction

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trends there, we did want to look at uh at least the MSA level construction spending against Florida. But this is specifically on the right hand side non-residential construction, which which maybe gets a little bit less uh uh attention these days than the than the

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residential side. But again, just contextualizing this to say, are there divergences going on? uh is that blue line significantly underperforming what's going on in the state? And and the short answer is no. But of course, in the macro environment, yes, we are

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dealing with some, you know, headwinds and tailwinds as it relates to, you know, what's going on in the residential and and in and interest rate environment that may be pulling down overall non-res right now. But again, putting this chart up there, you can see there's cyclical trends. We move up and down over time.

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This is what what what we call in uh the economics world as business cycles. So these are expected but again trying to make sure that oh gosh are are is one diverging more than another one? Uh and the short answer is would generally speaking no.

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>> I think we've said contextualized like a hundred times already. I'll try to reduce how many more times we say it. But we do want to talk about is there available land use within the county, within the city, within the zip code, and try and make sure that there's a core understanding of what's going on with vacancy uh vacant land, undeveloped

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land throughout the uh the general area. And so this is just kind of a core breakdown trying to provide just a moreformational piece about what existing vacant land still exists for the county, about 6% of land, or for the city, closer to about 194% 19.4% of the

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land. But even in the zip code, when we think about the contribution or potential contribution to the fiscal impacts and the economic impacts within the city of Northport, there's still uh an abundant amount of vacant land at 19.4%. How that ends up getting

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distributed between residential, commercial, industrial, agricultural, or just open space is uh you know to be seen in the future. But if we just target and zoom into well what we are expecting or what we're seeing in the zip code that Wellm Park is within is far more in alignment with Sarasota

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County than say Northport. So the next chart we're going to show is just talking about the contribution that our analysis suggests to overall revenue at full buildout that uh Wellen Park and Winchester Ranch would have on the city of Northport's general fund. recognizing

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that we are taking a snapshot in time of Northport's total available land area and vacant land and not making any future assumptions about where that vacant land goes. And so this is kind of bringing it all together as we start to transition and talk about what's going on into the fiscal side of the equation.

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While we're talking about about 18% of the city land area, we are actually focused on about 50.9% of the city revenue. And this is by the year 20 240 at full buildout. Again, not assuming any future or additional growth or

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absorption of that uh 19% of vacant land in the city of Northport. And so 50% of the revenue sounds sounds like a big number, but we also need to jutapose that with about 37% of the city's cost. Again, trying to make sure that we are creating a balanced uh overview of

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Wellland Park and Winchester Ranch and make sure that we aren't just focusing in on the new revenues that it brings, but also the cost to serve new residents, new non-residential, as well as just all of the uh infrastructure that's kind of surrounding it as well. So, that is kind of our step into now

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talking about the fiscal impact side of the equation. Again, still spraying the whole fire hose, taking a temperature gauge, see if we're good to keep going. All right. So, fiscal impacts. This is where we can home in on how we developed our analysis on deriving those revenues

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and cost into the future. Thinking about the full buildout. So, we're talking about the development activity, and this is information that uh was sourced from John's team at Wellen Park, helping us understand what is the future uh residential development look like, that

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22,500 unit number that has been brought up a couple times today, along with well, what are the historical and known non-residential construction opportunities and developments along with, well, what does the market generally suggest at full buildout we

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would experience or uh land area like this would experience of non-residential buildup. So we want to make sure that we're giving credit to that and what that taxable value brings is new advalorum revenue and quantifying that advalorum revenue and then comparing it against the cost of service and any

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expenditure attribution and between those revenues and costs we can get to that next fiscal position and cost recovery. So going to step through our analysis. Again, want to make sure we're balancing some some comprehensive outlooks with also uh uh trying to take

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some summary takeaways from a lot of numbers and a lot of data. So this is just understanding the backbone infrastructure. When a new development comes into place, the question is who builds that backbone infrastructure and who develops the land. At this point in

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time, there's been zero dollars of capital burden on the city of Northport. $741 million uh of that infrastructure and land development has come from the Well and Park team. And we can break that down further and talk about what what does this mean from the roads network, water and wastewater, uh fire

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police and parks, as well as just any of those future impact fee credits, and then trails, uh wayfinding, lift stations, irrigation, earthwork. So, kind of summarizing all of the uh infrastructure investments that have been made and are expected to be made uh

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are coming from Wellen Park funding that full backbone infrastructure uh for the existing and into the future. And so, the intent there is that the annexation becomes a net fiscal gain with zero capital burden on the city. That is the goal.

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Now, breaking that down just a step further, thinking about those master development infrastructure, we've kind of zoomed in onto some targeted infrastructure components, thinking more about just the the kind of arterial roads uh that have been spent to date. So, we have the actual column from 2015

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to 2016. We have the forecast column. What is being expected from 2026 and into the future of full buildout that we're generally framing as about 2040, 2039, 2040. And so this is just quantifying them as far as it relates to

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artillery roads, off-site roads, uh, wastewater and water treatment plants that are now being operated. And then the future water capacity reservation that John mentioned with Peace River uh fire, police and parks, trails and

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wayfinding to get to just again that targeted infrastructure spending in total about 425 million. So taking a step back from all of the land development and then just focusing in on the piece that we had just presented that is just infrastructure development.

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And the intent here is that these will be partially offset by an impact fee credit. the land development maybe not but the infrastructure the intent is to see remittance back to offset all the upfront cost uh from Wellen Park.

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So, now we're getting into the meat, talking about the actual fiscal impacts, piggybacking off of this notion of zero upfront uh capital costs from the city. And when we look out into the future, we are seeing both the county and the city

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of Northport having a positive uh fiscal impact. And when we combine both of those, the cumulative cost recovery between present day all the way to 2040 is expected to trend between 1.6 as a

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cost recovery to 1.97. And as a reminder, a cost recovery of one means that revenues equals cost. For a cost recovery of 1.6, that means for every dollar of cost, $160 of revenue is being generated.

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So when we kind of unpack how we've arrived at these numbers, kind of drilling in all the data and analysis that we've done, what we see is presently about 91 9200 units have currently been built through 2025. This is thinking about Wellen Park. It's

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thinking about the uh um existing units that are all part of that region, but at buildout that's expected to grow to about 22,500. So if we think about from 2026 to about 2040 and we just create a general phasing schedule, it's about 900

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units uh give or take per year. A bit more in the front half of the 2030s and that starts to taper down as nonresidential starts to pick up and through 2025 non-residential construction is about 1.3 million square

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ft. The expectation at full buildout is closer to seven million. And this is based upon an analysis of looking at existing trends within the data to understand what has actively been built that 1.3 million square ft. What is kind

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of generally known to be built about close to 5 million and then just what is normal. And when we think about the the normal, we're talking about just for the broader county. What is a typical relationship between non-residential square footage and units of households?

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It's about 300 square ft. And that is a newer trend. That trend has actually been descending over time. But when we think about just the future of this, we are trying to understand, well, what does the present day environment generally look like? And so that means that we're expecting a ratio of about

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14.2% 2% of non-residential square feet to residential square feet. So, it'll still be far more residential square footage to be built, but we don't want to uh discount or or neglect the commercial side of the equation.

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And then what does that mean from a tax standpoint? And what is the implications on the taxable value presently? What does that mean for the projected taxable value? And then what does that mean for future tax revenue? And so the top kind of bars there is just focus on the

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taxable value between uh residential and non-residential. We've just put a projected line in for 2026 and beyond to try and estimate what new buildout will look like into the future accounting for both residential and non-residential with known developments and then just

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using that market study and analysis to understand what a typical normal absorption rate looks like. So this is taxable value that will then be incurred or or be applied towards the military to create the ad valorum assessment. And so we're talking about again by full

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buildout close to $9 billion in present-day dollars. These are not inflated. Costs are not inflated. Revenues are not inflated. We have just said well in 2025 which is the most recent year of data that flows through the entire analysis. We expect about $ 8.8 billion of property value. And

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again, just trying to focus on the data, the math, and the sources that we have available to us. When we think about what does that mean from a fiscal impact standpoint, we've compartmentalized both Sarasota County's budget and the city of North budget. So, this is Sarasota County's general fund first.

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And what we've done is we've analyzed what existing uh cost centers are there and what existing revenue centers are there within the overall budget. And from there we analyzed in the county and in the city how many residential

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properties there are, how many non-residential properties there are. And we need to understand how to distribute or create a unit version of a cost uh for the entire community whether the county or the city and a uh industry

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practice or standard way of doing that is to create what we call functional population as that divisor of cause. So a functional population just accounts for both residential and non-residential. For residential is well how many resident uh people do are um

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are living uh per house and how much time do they spend per house. For non-residential it's going to factor in the amount of employees and amount of visitors and how often people are at those non-residential structures. And in

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this way we are accounting for both the uh demands that the residential side drives to a a fiscal uh impact analysis and the non-residential side. And fundamentally what this does is it creates a common unit to divide cost by because that becomes very important in

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how we will aortion cost to new developments and new uh single family and non-residential construction. And that's what's feeding our analysis. And so when we do that and we talk about all those units that we're bringing in and we're talking about all the cost within

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the budget, we need to account that there's some variability with budgets. And when we talk about variability, we are saying that not every single cost in a community scales at a 1:1 relationship. Some are fixed and some are variables. So we went through and

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analyzed all of the budgets for Sarasota County, which is being presented here, and budgets for city of Northport. and identified using the the urban land institute using case studies and then using just best practices we understood or tried to estimate what percent of

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budgets are variable and what percent of budgets are fixed. This is a overarching high-level analysis. It is not getting into the weeds with city staff or county staff to try and look at every single individual line item. So it is a rough

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order of magnitude that we've tried to attempt here. Uh an example would be if we talk about police services for instance. Police services generally those uh calls and responses generally are variable to the

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resident population and functional populations. So we only apply about a 10% fixed factor to police services. Meaning that 10% is always going to be there. The remaining 9% or 90% will scale with all the new development that

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comes into play. And so we want to make sure that we give credit where we need to and say not every cost is fixed, not every cost is variable, but we want to come up with an estimate of what is fixed and what is variable. These are the results based upon that

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estimates or all those estimates by cost center within each budget that has been sourced from the publicly adopted budgets for 2025. Uh we did run some sensitivity analysis to say well what if all costs are variable meaning that what

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happens if every single cost just scales with that functional population and still found that that cost recovery ratio remains above one for both the county and the city. So we did run sensitivities on this. What we're presenting is just our highest and our best guess or best estimate of what that

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variability is. But we looked at all bounds. Now with this said when we look at the annexation period a lot of those cost centers get shifted into the city rather than the county and we also see a loss of some of those other revenues

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outside of just the mill rate. So you can see from once the projection period stops those revenues and costs from the county level dip. But we juxtaposed that with well what's going on in the city and so we just envisioned what if what if this was all going on pre 2026 and

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just said well once that annexation occurs whenever that does if it's 2026 or what have you what is the appropriate ratio here. So when we look at projecting out into the future, we are talking about a cost recovery ratio today of about 1.55.

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But if we kind of zoom back, that means about an 8.9 million net fiscal surplus when we attribute those expenses and those costs proportionally again based upon that functional population attribution. And so over time you can see the blue bars

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that is revenue to the city and the red bars those are costs to the city generally flowing and moving upwards as new developments come online but the blue bar continues to outpace the red bars and that is kind of one of the key takeaways that we found as we dug into

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the analysis and dug into the results. And so kind of trying to do one one kind of highlevel takeaway for what that cost recovery ratio looks like for the county. What occurs is as the uh service

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costs transition from the county to the city as a result of annexation. You can see that that blue bar actually moves upwards generally and that positive to the county. When annexation occurs, you can see what we're now doing is adding in what it means to the city of Northport and then just the combined

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effect to the city and the county. And so what we found is that the city generally when I just do a summation of all revenues between the forecasted 2026 through 2040 divided by all cost from

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2026 to 2040. The overall cost recovery is right around that 1.6 6 1.58 ratio. The minimum comes about in 2032 at about 1.39. Now again, we ran sensitivities on this.

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Not shown here is well, what happens if every single cost is variable, meaning that there's no service scaling or everything scales in exact proportion to new uh properties, new non-residents coming online. what is that kind of uh

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I'll say worstc case scenario from a fiscal standpoint and that also occurs in 2032 and in that worst case scenario our analysis suggested that revenues still outpace cost and the cost recovery ratio would be 1.13 that would be the

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worst case scenario the most likely case is right around that 1.39 in 2032 so that is the low point in this broader analysis and then again can combine uh both jurisdictions to come up with that red line that's showing the combined

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cost recovery ratio. When we add up all revenues to the county, all revenues to the city, all costs to the county, all cost to the city, we come up with that combined approach. The last piece I guess the the you know three-legged stool here. We did the market econ or the the market study

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looking at fiscal impacts, but we did want to add this idea of economic impacts. And it's what Patrick was mentioning earlier. We bring all of this in. There's there's this level of output that should at least be discussed. There's a lot of construction going on uh in the past. There's a lot of planned

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construction going on in the future. This creates economic growth in in some aspects. And so that's kind of what we want to to to again kind of bring out here. We have what we call horizontal construction, right? We think of like roads and landscaping and things like

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that. We have vertical construction. Of course, that's residential construction. That's non-residential buildings. But there's impacts coming from us building all of this throughout time. And then there's this ex expectation of economic output

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once you fill 22,500 homes full of families who are working and doing all these things and and kind of spending money to create economic you know output. So we're looking at that. And then the last piece, why not end with a with a I guess a positive note, the cool today parks and implications, right? There's there's revenue that's coming

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from that. There's there's economic output that's been measured. And I'll I'll be clear on that one. We're using a study that I believe is being done regularly. and we thought we'd fold it back into into our analysis as as well. Uh but again, just maybe simply put

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leading with three easy kind of figures to understand. We know that we're spending uh a lot on construction. Again, what's been done, what potentially has been in the pipeline and then some of what Patrick was talking about, which is estimates or expectations

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uh for further construction, right? the need for non-residential buildings beyond again what is already kind of being discussed the the hospitals the uh uh the new school and that's about 16.8 8 billion in total economic impact.

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Again, this accounts for not only the cost of putting all of this construction out there, but to Patrick's earlier point, there are multipliers, right? We build all of this and then there's these indirect and induced impacts that also need to be added, right? We build

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something uh you know, we're building something, right? That that is economic output. But then we need, you know, a supplier for all of the the the hammers and nails and all these things that go on. And then to Patrick's earlier point, boy, we have all of this kind of

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activity going on. We need restaurants and hotels and and things that that are again are these additional costs. But I do want to mention though that at the stabilized community, and that's what we're talking about in 20 240 when everything's kind of built, uh there's $7.6 6 billion in annual economic impact

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that stems from all of the revenues and incomes rather that these families that I'm that I'm mentioning that are living in the community are again putting out once again though capturing the additional uh indirect and induced uh impact. And then again not not to

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mention uh the last piece there uh which is the cool day park is estimated around $116.8 a million dollars in annual economic impact uh that the Brave Stadium has just in this this this uh this county area. And again, maybe

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thinking about what's driving all of the the cost which then drives some of that economic output. You can see that the vertical construction specifically around the residential space is going to be the bulk of that with a little bit of that non-residential and the vertical construction and then of course the

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horizontal. And if I was to maybe start with the horizontal, the smallest piece of the pie, this is what I was talking about when I mentioned, you know, we got roads and and wastewater plants and lift stations. Again, looking at maybe different categories, summing it all up, that's $919.4

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million in cost, right? So again, summing those things up. When we talk about the actual economic output of that, we need to factor in again those multipliers. But if we look at the vertical construction once again that is made up of nonresidential and

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residential non-residential being on the top we know that there's historical developments that have been going on. We know there's buildings that are in the pipeline me for example the schools. Uh and then there's that future development potential that Patrick was mentioning

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around the idea well we're building all of this residential. there's a certain level of non-residential that that is built up to support the community that we're building. Uh and then again, if we look towards the bottom there, you have that residential. That's the again total cost there. So, summing all these things

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up, you can see it's starting to stack. But I like to think about it from again an economic output perspect perspective. So during this phase of construction from 2006, again, we're kind of going back in time, but then ending around 2040 when we expect the the homes to be

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built, you're talking about 68,000 people with a labor income of about $5.2 billion. All of that is creating this nearing $17 billion uh in economic output. Again, kind of removing the

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impact of inflation. So we're talking about it in in 2025. Um, but again, thinking about the the magnitude here of that, breaking that down, as I mentioned, we know that that's horizontal and it's going to have a smaller piece of it. We've just mentioned it's smaller cost. So, you're

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only going to get about 7500 uh total employment of that larger figure. The output being around 1.4 or 1.4 billion. The big kicker here, you're going to get it primarily from uh that vertical construction. That's that's 61,000 out

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of the the 70,000 or close to 70,000 total employment. But the big kind of figure to zone in on is that 15.3 billion in in output accounting again for those those uh those multipliers that we would expect as things trickle

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through the economy. But once we're all built and the construction is kind of let's assume it ends, but there's there's always, you know, further things that get built out. But if we talk about the scope that we have here, you would be talking about again 20ome,000 units. That's around on an estimate to be about

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40,000 uh total employees. Not everyone in in the household is going to have a job. We have to factor some of that participation rate in. We are estimating to be about 40,000. And again, thinking about the labor income and what that actually means for an economic output,

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you're talking about $7.6 6 billion dollar in output output at this stabilized you know community uh expectation here. And then again last but not least I like to end on this. We took these slides uh from again the the studies that are done I believe on a on

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an annual or maybe a yearly basis to see what type of impact and this is the same concept. Uh this study also looks at overall economic output. What is it amongst that direct spending, you know, total attendance going on? And again, we can kind of think about the total

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economic output being about $116 million. That's annually uh that this that this uh cool today park provides directly to this local area. So again, just given a little bit of some summaries here to to again show that

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that there's significant value uh and and fun that there's no fun measurement on here, I guess, but if there was, we'd probably say there's a lot of fun going on there. And so that ends again our three-legged stool of the analysis that we took that that we, you know, were trying to answer here. Contextualizing

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the the local environment, can we build it? Looking at that fiscal impact side, what type of costs and revenues are we dealing with? And then ultimately thinking about a more conceptual idea of what kind of economic output would this, you know, activity that we're talking

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about provide to the local area. >> All right. Thank you very much. That's an awesome presentation. A lot lot to uh digest. Uh Vice Mayor, you're up. >> Um thank you, mayor. First, I have to ask, are you brothers or first cousins?

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I'm struck by the similarity between the two of you. >> We We love to hear that. Um we do presentations out in the wild and we have a slide. If you've ever seen the movie Step Brothers, uh we look just like the two step brothers with our little uh vests and everything on, but uh no no relation. My daughters call him

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Uncle Jeremy though. >> Okay, thanks. >> I think it's the beards. >> Yeah. Yeah. Look. Anyway, on a more serious note, um a question on cost recovery. I saw that the county gains are higher

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than the city gains, which was surprising to me given that Wellland Park exists in the city of Northport. Is that more because the county spent more? If so, is it River Road? So, if you could shed some light on that.

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>> Yeah, it's fundamentally just on the operational side of the house. A lot of those services post annexation are absorbed by the city and um the county is no longer part of the the main cost structure that would serve the community. It would be the city. And so

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once that annexation occurs, the county will see some reduction in those other revenues but still has a county millage that goes through. But if you talk about the city and your millillage um is very comparable to what the county was incurring pre-anexation,

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>> right? So startup costs is what I'm hearing. >> I think that's fundamental. Yes. >> Thanks. Poverty rate. Um given that the income per household in zip code 34293

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is significantly higher than either the city or the county. How do you account for um a higher poverty rate when compared with the city? That was confusing to me. >> Yeah, it's about participation, right?

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Uh and and so you can actually have very low income because someone's not working, but it doesn't mean they they don't have savings, if that makes sense. So, with an older community, you can have the ability to have minimal income coming in, uh which which actually means you're you're closer to the poverty

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line, but you still have the the means to afford a home. You probably own it. you have bank, you have, you know, savings and so on that you're that you're drawing down from. That is one aspect of why poverty rates can be a little bit skewed and then see income on the other side of it. For those who are working, you're going to see that

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slightly inflated. It actually goes right back to that um income inequality piece. And it's a that's a tough word to say, but but there is this ability where some folks who are making more kind of make up the majority of the income uh

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you know in the area. So 10% of folks that are making a significant amount of money bring in maybe 60 70% of the income coming into the area. That's that's that that's that piece >> about zip code. >> That's also a good point. the the the

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zip code as well and and I don't know if that's that's exactly what John was mentioning, but I should also say as you get more granular with some of the ACS data, you will get a larger uh what they call margin of error on that as well. And so when I when I saw those poverty

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lines or poverty ratios, I didn't that didn't scream, oh, they're really big misbalances. We're looking at it saying, "Well, one's higher than the other." But there's going to be a pretty large margin of error once you start getting even more granular on those zip codes as well.

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>> I mean, is is it attributed to investment income? I mean, you could have very wealthy people who in terms of how we measure poverty, it's based on income, but investment income isn't part of that. Is that >> investment income? It would be. It just

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depends on how how you're getting it. Yeah. because you have to you would have to actually file a what you earned on investment income. But it but partly driven by that. But John, you were about to say something in the local area. >> If you look at one of the first maps, C

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goes all the way out through South Venice and other areas that are much older in Well Park. So that is not a zip code that is only Well Park. It's giving you some data showing a bigger area that

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we have more variation in income that really exist within well that's something it's hard to hone in on >> is well park versus holes income. >> Okay. >> And John in the future if you're going

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to comment please go up to the microphone so we can get it on the tape. >> Great. Thank you. Um and and for now one two two final questions on your vacancy rates. I'm assuming that partially constructed

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or under construction or partially constructed abandoned properties are not part of that equation. >> So abandoned properties will be and that's where a lot of the sense of what a vacancy rate is comes from where folks

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will say hey this there's no one living here. there's this house is vacant. But when we think about the local market, generally the case is that it's because it's seasonal. And so the vacancy is not because it's abandoned. It's because it's a seasonal property. But but it will include both. >> Yeah. But it wouldn't include the

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partial buildout. It's not technically a formed house. Yes. >> Right. Right. I was last question. I was also surprised to see under economic impact the impact of cool today park. Could you

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just sort of characterize what's included in that number? >> Yeah, actually probably can go back. So I believe and again this is taking it from uh an annual study that that's not that's not done by by Stantech, but they

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have to follow the guidelines of I actually believe it's the MLB's guidelines on how to measure economic impact uh for stadiums. And so they're going to be talking about it's not necessarily a construction piece that that's going to be talking about overall employment that that that is that is

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used for that. Uh you can talk about all the vendors that have to come and actually you know all the hot dogs and and drinks and so on and so forth that comes in and that creates jobs as well because well you need it now. Uh so it's it's not just from the construction now

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that it's built. It's about the the folks that are coming and spending but also the employment that's actually used during that partial period of the year. >> Okay. Thank you. I'm all set. Mayor, thanks. >> Commissioner Pro. >> Thank you, Mayor. Uh I'll start from the

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back um of presentation at Cool Today Park. Um you said that you know economic economic impact is such and such and bring so much. Um, did you include the initial investment that the city of Northport made about $5 million that we

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did contribute as a city? >> Yeah. So, with that that impact analysis, that is a it's a separate study, we we did not do that study. We just want to present the findings. My understanding is that with that investment, there is a $5 million made by the city that is contributing or

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contributing to the construction stage of the park. But thinking about just the ongoing operations is what that analysis conducts is how many new um visitors are coming to the community as a result of having a stadium present to go to baseball games to spend money maybe go

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to a hotel and what have you. But that's again our understanding of their study. >> Let me see. Good job. >> Part of the initial funding because as you know the city put some money in it, Wallen Park put some money in it. the

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county and the state. So it was a requirement of creating the stadium that there needs to be an annual report done on is it is the stadium operating as it was envisioned. So that's an annual

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report that goes through the WVID to the state. So it's showing what the impact is of the stadium and solely of the stadium. What I asked Stantech to do is show, okay, not only what's happening with Wellen Park, but there's this other

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economic engine that is on top of it. So, the Stantech team didn't add the stadium into our revenue numbers. They're separate and distinct. We wanted to give you the full picture that's saying here's the development, you know,

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here's the results of development and here's the stadium separate part because the city did participate as it did well in part the county and the state. >> Yeah. And I understood that actually because it involves the larger picture although the as a commissioner of the

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city I'm concerned more of a for the city uh because we did you know spend $5 million we don't get any tax revenue from it because it's owned by the county. Um, so how do we recoup and how did we >> sales tax?

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>> A sales tax, but did we have at what point are we going to be break even if we if we did it or not? Or we still getting to that point? So I think the numbers are a bit skewed, if you will. In that regard, it's a good economic

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driver for the for the um their location as a regional location. But as far as you know a lot of it it's right on the border with Venice. So a lot of people go to Venice because and they stay in those hotels. We don't have that many

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hotels in that area. So if anything I think we still recouping that investment uh to some extent. I'm I don't know the numbers because I don't know >> the study is not >> we haven't studied that part of it. >> Correct. Now the good thing is obviously

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as you know the stadium opened for one game in 2019 really didn't have a full spring season in uh 2020 because of co so we're just starting to run like a thoroughbred would run as you know uh because of the growth because partly

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because of the Braves >> we're starting a downtown hotel that'll be in place in about 18 months the Braves purchased a 2acre piece immediately adjacent to the stadium and we anticipate them starting in the second quarter next year another hotel

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that would be actually connected to the stadium. So, some of those things like you asked about in this hotel, but obviously people from out of town are probably staying in Venice as some would stay in Northport, but as our

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opportunity to develop and secure more hotel space on property is going to be a positive and we anticipate having over 300 rooms available within the next 24 to 36 months within Wellen Park. And as you

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may know, with the development of downtown in the last phase, we are actually bringing Wellen Park Boulevard down to the stadium, so somebody can easily walk from the stadium to downtown and then actually cross 41 into the

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Benderson commercial development that we're going to start land development here later this week. >> And I'm I'm all for that for the hotels and um and that area. I just wanted to put this out there so people are aware of this because you

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know it it's cute presentation on the school park specifically. So that's and that's why I wanted to unless you had some >> insight information on that study which you said you did not um but I appreciate that. I really appreciate the presentation. It's very detailed. Um uh

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the other one was uh I have a question on cost of um service and expenditure attribution and specifically cost recovery 2 2.48 48. Um, does it does this ratio does it take into account the

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impact fees that would be paid and that cost recovery? Is it only for the Winchester Ranch or the entire Wellland Park including Winchester Ranch? So, two questions in one. >> I'll answer the second question first. It doesn't encompass the entirety of

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Winchester Ranch and Wellen Park. So, it's the whole area. uh as it relates to uh the impact fees. Uh what we have done is because all of the upfront infrastructure is being invested upon, we have recognized that the impact fee

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remittance is just recouping those costs that have been put up front already. So they're not included in that cost recovery. It's just the maintenance of the um the service and amenities and everything that comes with servicing new households and new communities. But uh the impact fee side of the equation did

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not get factored in because the costs have already been put up front. >> Okay. Um and again I'm all for Will and Park development. Really appreciate the planning and the thoughts that are going

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into details and where to put what a really well-designed community. Um, just want to give a uh a good A+ on that. Although the presentation did does

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involve the combination of um Winchester Ranch and Wellen Park and what I am concerned specifically because I I knew a lot about that stuff not to that extent and not to that detail but

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uh the my primary primary concern about this presentation is Winchester Ranch and uh the annexation of it. Um, and I would love to have it to be dissected from the Wellen Park development because

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the numbers would be so much different. And I see John is coming up to the microphone. >> And I'll tell you why after I hear you what you say. >> You can't have one without the other.

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And the reason I say that again we are trying to be very respectful of the critical area plan that was approved from the county and that we had a limitation on commercial. Now if you look at our overall site plan and again I'd have the picture out. We have

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downtown we've got significant commercial that is either at Maninnesota Beach Road and West Villages Parkway or will be out at River Road. So if you look at a map, some of that commercial

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that needs the residential units is in city of Northport today, but really needs the units that we lost that we didn't put in Northport today. Remember, we're approved for 22,000 roughly 250. We're going to wind up back

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at that number with Winchester. You need the houses to support some of that commercial. We need the houses to support the two hospitals. So that you can't separate the two. One of the main things we did with the critical area plan, we worked very h hard with

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Sarasota County, make it look like a uniform plan. In a lot of cases there, we were telling the county we wanted to basically continue the standards we use in the city of Northport. So, I mean, one way of looking at

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Winchester Ranch is just saying that's just a piece of property. We're looking at just number of units doesn't matter from an economic standpoint if it's here or here. However, what it's done for us is creating a community. By spreading the

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22,500 units out of over both, we've been able to achieve higher levels of open space, wetland preservation. Yeah, I didn't mention we got like 36 miles of trails today and planned for. So,

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>> you can't really separate. You got to look at Wellen Park as a whole, >> you know, because you don't want us to come back and try to put sevenstory condo buildings in just to get that density here to show less here. Having a

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nice spread out. So basically, if you think about it, from what the city previously approved, we're getting an additional 3,000 acres, but no more homes than has been here before approved. but gives us the affords us the ability to bring in more

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nonresidential because we've got more the population that we planned for before the way we've done it has been able to create more economic impact and a bigger variety of household income.

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>> It does make sense although I think this discussion is a front door for the uh discussion to for annexation if you will. So the the this presentation really is u you know gives us ability to see what the Wellland Park community has

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done the developer has done and how beautiful the the project is. Uh in my in my view this Winchester range is a sort of a separate issue as far as can can the city support uh 10,000 homes can

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without incurring financial impact greater than the you know the expense and going back to the last question on the cost recovery uh that if we include the impact fee reimbursement I wonder what what that cost recovery ratio that

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would be after that because you know and specifically I'm going to say for the Winchester ranch because um 10,000 homes uh if we do I don't know how the reimbursement work how it works. >> Well, let stop right there. >> Okay,

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>> stop saying 10,000 homes. We're approved for 8,999. I've already said we won't get there. We're going to get to about 22,500, which is approximately what the original

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approvals were. So, if we wind up at 165, we're going to get about 6,000 more homes in the city of Northport. We're not going to put 10,000 homes in one park in the city.

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That's why we did the study. it we are and I've been very cautious up to now but now that we have secured plans and approvals for 10 of the 12 villages and the 11th village is is making its way through the master concept approval

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process right now I can say for certain we are going to be hardressed to pierce 16,000 units now we may can get up to 165 if this regional sports complex that we are working with staff on doesn't

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come to fruition, but it is starting to pick up momentum and I seriously believe that will occur. So, we'll probably get closer to the 16 than 165. But the positive that sports complex

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is gives us ball fields that were never contemplated out there, you know, even two years ago. the master park master plan that this board approved in December was the first master plan park master plan that

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included well and park all right so we're creating an opportunity again that works hand in hand so you got to look at the whole and just think we were pro we have been approved for a long time for 22,250

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say we're showing you an model at 22,500. We're just adding more land to it, but as you see, we've already increased our open space by what

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is that? 70%. Going from 30% to 50%. And quite frankly, I don't see that number ultimately evolving much different than the 50% we're >> we commit to that upfront. No, because I

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need the planning flexibility to create, you know, great neighborhoods, which I believe we have done. >> So, let me scale back to Winchester Ranch. So, by the 2021, you were approved by county by the county for

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8,99 whatever the number >> 8,999 >> 99. Yeah. 9,000. Let's say 9,000 minus one. Um, how how many households or how many units are you planning to build in Winchester Ranch?

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>> 22,500 minus 16,000 is about 6,500. I think that's going to be around where we end up. >> Okay. Can you repeat that? I'm going to >> 22,500

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which is what's in our economic impact study. I believe we're going to end about 16,000 units. The delta there is 6,500 units. >> Okay. >> And what it does for us and I mentioned we're going to start the

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Benderson site development work this week. It allows us to maintain the gross number of residential units and population to have the people that are needed to support the businesses in

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these commercial areas. you know, the restaurants, the stores, the shops. You know, Benderson as a very astute commercial developer wouldn't be investing, you know, a 52 acre piece to start the development that can be

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upwards of 700,000 square feet when it's all done if they did not see the growth. And quite frankly, a lot of these guys look for a consistent stream of growth. Yeah, everyone can say we are going to do this,

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but a lot of people take the approach that they they're from Missouri. Show me first, then I'll believe. The nice thing is the Wellen Park team has gotten seven years of consistent development through different economic cycles

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and you know they show the team Stantech team shows about 890. We've gone from 760 on the low end. during the middle of COVID, you know, where people were buying homes, sight unseed, we got up to about 1,200,

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you know, so we mentally think about a thousand units a year is I've got to be planning, I got to be developing, I got to be constructing those type of improvements. Home building may fluctuate year to year and it may be simple as having a home done for

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closing. You know, do you have it this year or does it fall into a January closing? So 8.90 is a real good number based on our last seven years. And again I say that because I have been head of the de development of well park this

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month is seven years. >> Uh I'll be very candid and honest because of the annexation. Um, I'm really concerned about two issues and I've related those two concerns to the uh city managers and his staff um about

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the the ability to provide the services um and specifically um I'm not going into once it's built out like police and if 10,000 homes are added for example we have one police officer to be added for

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a thousand um residents and whatnot. I'm not going there. My main concern or two concerns is uh the the that it is evacuation route like you said. Um and we adding a school there. Um which would

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be and I told you that before that you know a couple thousand maybe thousand students in the first year 2000 second year total u evacuation route. Um and the second is water. Can we supply the water? Since in your presentation you

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mentioned in the beginning that the water anglewood cannot provide because they would have to initial investment over $100 million. That's why two years ago this commission unanimously approved an agreement with East River for well

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and park west villages to purchase 2 million additional gallons a day of water from Peace River. >> Mhm. So get you know to even take a step back separate apart from

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Ingwood water district we built the backbone for 4 million plus gallon per day water treatment plant in on Minnesota beach drone we built 2 million gallons day we were faced as the city was faced

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didn't have additional source water expand that So we went to sorry we went to Peace River collectively city and Wellen Park working with Peace River and one thing I

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didn't mention we are integral to Peace River's future needs to expand a water man up to the Venice Gardens plant for the city of for the county. We are working with Peace River on those

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routes. Kimley Horn working for Peace Rivers working on an analysis of that and every opportunity that's cost effective works with us. If it works with Wellen Park, it becomes a benefit for the city of Northport.

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And I won't go into all the engineering details because it'll probably bore you, but we have the water >> uh in the in financial implications of supplying the water. Do Were those included in the study? For

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example, lift pump stations to maintain the pressure. >> It's it's shown as it's in the cost >> in the cost. Okay. >> Now, it shows 12 I think $12 million for future cost. That's because the study ends in 2040. The Peace River is funding that water

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improvement with 30-year future bonds. All right. We Wellen Park in Westfield's improvement district have planned for the 40 the 30-year payment area. So that 12 million is only a small fraction of the cost. We

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anticipate with 30-year bonds. Historically, Peace River through these water funds have been able to borrow money around 4% or less. Mhm. >> So, our economic models show we need to plan, not the city. We need to plan for

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approximately $110 million of investment over the next 30 years. >> I don't know when they're going to issue the bonds. We're just in those pre- early stages of that, but they will issue that and then with the built-in uh

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capitalized interest period, we'll probably start paying for those bonds in about two years. But that's our payment, not the cities. >> Uh, last question slashc comment. You talked about uh momentum and that you

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have to continue to continue to build and get the ball rolling and not stop. Um, what is your target demographic to populate the area? And I'm asking this because I don't know your vacancy rates on current buildouts.

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Um, but I know um that to get into one of the leases uh the rent was lowered by 400. So I see a cool off period and I know you want to have a momentum and continue to go but there are so many

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vacancies and so many incentives with the intention of uh build building out the Winchester ranch. What is your target population or demographic population? What are you trying? How do you try? What are you going to do? And what demographic are you targeting to

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populate vacancies and future houses? >> Our demographic is going to be consistent. We are going to be a home for a large cross-section. Now, before CO, we were predominantly a semi-retired

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retired buyer. Now we have a lot of families. I would say that percentage is flipped almost 100%. We've got a lot of families, a lot of people in transition. You I personally right now because I

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sold my home and I'm building a new home live in a single family rental neighborhood. Family across the street, man and wife. They're working three, four years away from retirement. Also in the same development down the

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street is her daughter and son-in-law and grandbaby who live here work here. So we go from young families the pre-retirees to retirees and I believe that process and that demographic will

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continue. If you look at vacancy rate obviously soon as you build something you're done. You got a 100% vacancy rate. It take time in these new developments to absorb that vacancy.

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If you look at it, the Tropia apartments in downtown was built hit 92% vacancy rate within less than two years. And that's kind of what we've been experienced across the board,

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you know. So, is it unique? Is it high? I don't think it's high. Again, when you look at that economic analysis that the Stantech team did, you can only funnel down to zip code. That zip code, if you look at the map on

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the third or fourth page, covers a big part of Venice Gardens and other areas of South Venice that may have higher rates, may have different demographics economically than

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we have. We can't use census. We can't break the census data down any smaller unless they create a whole census zone for just Wellland Park. >> But I believe what the Stantech team does gives you something that's clear, concise.

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Right now appears we're 8.8.9 million a year positive to the city of Northport. Now our study only include Wellen Park. So there could be other things developing in Northport in the next 14

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years, but if I did the math right, in 2040 it looks like we're 43 million plus positive to the city of Northport. That gives the city of Northport a lot of financial flexibility.

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9 million gives you a lot of financial flexibility. 43 million is I believe is a game changer. >> Okay. And a last consulting tip, advice or a question. Have you considered the light industrial

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uh office space leasing in Winchester Ranch? Because this board consistently and the previous board consistently was crying out that we need more jobs, jobs, jobs. And yet we adding

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Winchester Ranch if we vote on it later on with all residential practically 98% residential. And uh I've heard more uh over and over that residential does not

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justify the the service expenditure that the city provides or service. Have you looked into like light commercial, light industrial office space instead of residential residential and more residential? I mean we from what I hear

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from the community all across the board on all sides they saying stop residential. We have so many vacant houses. We have so much traffic um and so on and on. Have you considered

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anything as a like office space lease or any light industrial in Winchester Ranch? Light industrial would increase traffic, not decrease it. Just so you understand, there's a lot of light industrial spaces, vacant property to develop

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immediately adjacent to uh Winchester. We have the ability again staying consistent with the cap. We have the ability for some square footages. When you bring it into the city, we have to follow the city zoning ability to do

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some of that. We have that ability. One nice thing about our zone, the zoning that we're working with, the zoning we have in Wellen Park is the ability to adjust and adapt for develop and development needs. Now, quite frankly, we're not going to

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have the big boxes. Northport is starting to get further south. We are seven miles away from 75. Light industrial for the most part wants to be where they can move north south

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quickly. Will we get some of it? Yes. Will we get a lot of it? No. What we're getting and we've added significant square footage is medical medical office. I mean Lakewood Ranch doesn't even have two hospitals approved for

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their property. We're going to become a medical hub more than Light Industrial. Light Industrial may be in the county adjacent to us and some of those pieces that have started to develop that way that are in Well and Septic.

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You drive Well and Park today, our roads aren't overcrowded. We've planned for those. If you look at the traffic on 41, traffic on 41 from FDOT's numbers significantly decreased. If you're from coming from Northport towards River Road

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at River Road or if you're in Venice coming towards Wellen Park, it drops substantially once you hit Rockley. We're we are planning appropriately for these roads. We have built them. We have

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four lanes up to uh River Road at West Vill's Parkway. Quite frankly, when FDOT told me they thought we should put a left dual left at West Vill's Parkway, it surprised me somewhat.

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So, we've planned appropriately and quite frankly, I know what the traffic consultants because we have them update our model every twice a year. what they believe will need to be four lanes, what needs to stay two lanes, and how to plan for that.

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So, I believe we're on top of that. And again, remember with Winchester, we're just going back to what's already approved in Wellland Park from the city of Northport. We're not adding.

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We have and we do on the West Village's improvement district collector roads. We even allow LSVS, you know, the golf carts that are licensed have safety belts, you know, in your code, as is ours, low-speed vehicles. We plan for those. We have parking for those. We've

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tried to address the whole cross-section of vehicle use, vehicle types, electric vehicle uh parking stations downtown. We've planned for all that. >> Thank you. Thank you for the presentation.

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Commissioner Duval. >> Thank you, Mayor. Uh, thank you, gentlemen, for the presentation. Uh, first of all, I was happy to hear when you spoke in the beginning, John, I was happy to hear that you addressed water.

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uh almost every day I'm reading an article somewhere about the state of Florida and water projections, water needs in the future. So I I was happy to hear. >> Thank you. >> Uh I'm not surprised. Um

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I did have a meeting with John. We discussed, you know, Wellland Park overall and what I related to John was in my everyday office as a commissioner,

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I don't hear complaints from Wellland Park. Well Park is a wellplanned community. It's Legacy Northport that has a problem. Um,

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would I like to see Winchester Ranch and a whole lot of land stay with nothing but trees? Yep. But that's not reality. And what I've seen since I've been here is that the Wellen Park area is just a

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wellplanned community. And I appreciate that. Makes things easier for me. Now, um I do have a question about John. You again, John, it was you that mentioned, uh we share fire department with the

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county. U fire departments do work together. You know, when one truck goes out, the surrounding ones, they support in case something else happens. But

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the city owns that facility. >> Absolutely. >> And how I guess my question is how does the county remuner remunerate us? You know, I mean, do we get any revenue from them

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or or I will answer the first part of that question. When we started designing what is the public safety building, at that point in time, the city actually occupied some space in a county-owned

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facility on the entrance road into the college. Okay. That facility was aged outdated. We built a facility that could hold house two fire shifts, we'll call them, at all times.

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The city has some type of an agreement with the county. I am not party of it. When we built that property, we sent a letter to the city said, "We're done. We're ready to turn this property over to you." And we have done that. We did that, I think about three

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years ago, and since then, the city has quarterly made payments from the impact fees paid to start paying that debt down. Do I anticipate the county will always be in that facility with the city? No,

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because I don't know the future. Chief Titus and Chief Hurley, they can probably give you better data on how that facility operates. >> Yes, he's over my shoulder. >> Uh Nick Hurley, deputy fire chief. To answer your question, yes, we have a

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rental agreement with Sarasota County Fire. They pay us annually to operate their resources and units out of that fire station. >> All right. Thank you. Thank you for that. >> Thank you. >> Um, one thing I I I looked at uh was, you

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know, the baby boomer generation uh is from 1946 to 1964. Those 1964 people are turning 62 this year. under demographics.

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Do you anticipate any kind of a downturn due to the fact that, you know, it is a baby boom generation? There's still going to be people retiring, you know, going to be semi-retired people. Um,

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but you know, a lot of the baby boomers, you know, the 46ers are turning 80 this year. Mhm. >> Uh there going to be a lot you know some of us are going to be disappearing >> not made. >> Uh do you anticipate any kind of a downturn

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due to that demographic? >> I don't think the downturn is going to be anything different than the macro business cycle. And it's again the fant showed the business cycle on one of their charts and we've experienced that. Like I said, we've gone from a low of

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about 750 up to about 1250 a year. We plan for about we plan for about a thousand. The economics says we'll be about 8.90. And while the baby boomers here before

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CO were the big part of our buyers, the pre-retires retirees. Now they are a much smaller portion of our buyer. We've got many more families and the one thing that really has

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changed with the co is working remote. I can't tell you how many people, but I bet you it's a big percentage of people that work remote. I know in the last neighborhood I lived in, you know, most of my neighbors from 30 to 65 or 70 were

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working remote. I was one of the few that actually went to an office every day. So, will there be variations in permits and moveins and sales every year? Absolutely. But the way we address that is we

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provide a diverse product in different neighborhoods for different buyers. So, we may have one neighborhood that is selling like hotcakes today and another neighborhood that may be selling a little slower. But if we provide housing that addresses all buyer types,

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affordability, again, we go from condos as low as 250 to custom homes that are approaching 4 million. You know, we can find a niche pretty consistently there.

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Thank you. Um, my last comment question, so to speak, uh, was you're talking about the regional sports complex that may happen. Simple way of asking is who's going to own that?

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>> To be determined. >> Ah, >> and the reason is we've put land aside for that. We've worked with a concept plan with staff with an operator. We've got the concepts. In my simple mind, I

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would see the city owning that property with an operating agreement with an operator that can operate that type of facility without taxing the parks department. But that all to be determined. We've got people starting to

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sit at a table to start working on that. I believe it will take, you know, six months to a year to formulate because if you have an operator, you you want some guarantees on operating standards and

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things like that. Parks us, you know, the park department wants to use it for, you know, travel, soccer or lacrosse. You want to be able to provide opportunities for that to make this here a true destination sports complex. So

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those things need to be thought about. Those things need to be thought about from people that are involved in that industry. I can design something. I can develop it. We want the operator at the table with the city and with Wellen Park to

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create a worldclass facility. So to be determined, but I am very encouraged at the early discussions. >> Okay. Thank you. >> That's all for me, >> Commissioner Stokes.

451
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>> Well, thank you for the presentation. I mean, I spent a lot of time going through it. So, I do appreciate the numbers that are there. And as I gather, in a nutshell, to try to dumb this down for somebody like me and whoever else might feel that this high-powered

452
02:05:13.520 --> 02:05:29.440
presentation, some of which may have floated over people's heads, what we're talking about here is that full buildout, which is significantly less in terms of residential units than was originally contemplated with a lot more open space than was ever

453
02:05:29.440 --> 02:05:44.320
contemplated. We're talking about a buildout of Wellen Park or West Villages improvement district of which all this will be part of close to $10 million 910 million net to the city of Northport.

454
02:05:44.320 --> 02:05:59.920
>> That's that's in 2025. >> That's in 2025. >> If you look at the chart and again I'm not bad at math from my head it was 43 million a year plus. and and and a good

455
02:05:59.920 --> 02:06:16.159
way to do it because obviously, you know, we're in 25, you know, 2025, but in 2040, we'll not only have revenues that are probably inflated, but we also have costs that are inflated. So be that as it may, it's still a healthy number

456
02:06:16.159 --> 02:06:32.560
net net to the city of Northport, which leads to the question from the legacy Northport side of the city, this sure looks like a windfall and looks great, which is pretty much the reason why I think Northport years ago looked at this

457
02:06:32.560 --> 02:06:47.840
in a favorable sense. the county looks at as a favorable sense because they do less work and they make even as much if not more money and having to do less. So I get, you know, how good they feel about it.

458
02:06:47.840 --> 02:07:03.440
To clarify for the West Villagers, okay, um, one question that has always arisen was, well, gee, us West Villagers are the deep pockets for Legacy Northport. But but and correct me if I'm wrong you

459
02:07:03.440 --> 02:07:19.280
guys proportionately proportionately on a per rooftop basis adjusting for property valuation everyone in West Villages or in Legacy Northport pays the same

460
02:07:19.280 --> 02:07:35.360
rates the same percentage rates. What varies is the valuation of their property. So well in part residents, property owners do not pay a disproportionate share. They pay their proportionate share.

461
02:07:35.360 --> 02:07:50.560
However, because their property values are significantly above the average in Legacy Northport, the dollars are more that contribute. Am I correct? >> Yes, that is correct. We same same mill

462
02:07:50.560 --> 02:08:07.599
rate only flexes property value when we talk. >> Can I add to that? Okay, >> because you know I can't not one of the things that significantly make Well and Park profitable for city is not only the property values is the

463
02:08:07.599 --> 02:08:24.320
city is not expending money for improvements >> right >> you're expending what 90 million on Price Boulevard in our case Wellen Park WV have built West Vill's Parkway right that's a big

464
02:08:24.320 --> 02:08:41.040
difference because all of a sudden now you got construction costs as well as finance cost to build improvements in Legacy Northport that the city does not incur. >> That's that's true. And for the Legacy Northport property owners and taxpayers, that's a blessing. For those who live in

465
02:08:41.040 --> 02:08:58.639
West Villages, there's an additional layer of debt or uh cost that's incurred via their CDDs for the infrastructures that they're paying for. So, I appreciate that. And yet nobody forces any of us to live there or not live there. It's a cost of living there and

466
02:08:58.639 --> 02:09:15.920
we appreciate that. Nothing was hidden. When I bought there, I knew full well the layers of taxation I would incur and I like it there and I choose to continue to live there. So that's fine. Um, the other point I want to make is that there's been long running in our city

467
02:09:15.920 --> 02:09:31.199
the conversation that for every dollar of of service that we supply our residences in Legacy, it costs or for every dollar of revenue that the average Legacy

468
02:09:31.199 --> 02:09:45.920
Northport property generates, it costs us in excess of that dollar in order to service with regular needed services. The in Wellen Park, as I look at this

469
02:09:45.920 --> 02:10:02.320
study, it's it's quite a flip. For every dollar of cost, there's a$130, $140, even more of return on investment, so to speak. So that's really a simple

470
02:10:02.320 --> 02:10:19.520
function of in Legacy Northport where property values average close to even half of what they do in West Villages. It's no wonder that a quarter acre lot in Legacy Northport cost the city more to supply services to than in West

471
02:10:19.520 --> 02:10:37.199
Villages where the property values are so high that the revenues generated for those services exceed the costs. And and I need to make that distinction because people have said, "Well, why do they keep building residential if in Northport it always costs more to supply the resources?" That is not true. It's

472
02:10:37.199 --> 02:10:53.599
only true in areas where property values are considerably less because the revenues generated are less. >> Let can let me interject there. That is a big part of the equation. Yes. But as you know,

473
02:10:53.599 --> 02:11:10.560
North Legacy Northport was developed by General Growth. They put streets in, ditches in they didn't plan for storm water, >> right? >> So there is a cost to the city on road

474
02:11:10.560 --> 02:11:27.599
and ditch maintenance that you don't have in Wellland Park. We have created and I'm very proud of it because I'm the engineer in me is conservative that we create these facilities that manage

475
02:11:27.599 --> 02:11:43.040
storm water in an appropriate manner so people don't get flooded but it's also costefficient for the WV team to maintain those like they do the wetlands that is a level that's a burden that you as a city

476
02:11:43.040 --> 02:11:59.360
commissioner have to deal with every day it's how a whole lot of lots were put in Northport, but you don't have the storm water. So, it gives you a burden of cost that you don't have. And that, you know, that

477
02:11:59.360 --> 02:12:14.320
along with a difference in property value is a major thing to keep in mind. >> Um, so let's switch over and and let's talk about water. You've touched on it a bunch of times. um with the $2 million a

478
02:12:14.320 --> 02:12:30.800
day commitment that madam that West Villages has made on behalf of Peace River um which came through Northport. I mean, Northport had the rights to that water and seated basically its its, you know, its rights so that Wellington Park would have this water.

479
02:12:30.800 --> 02:12:46.880
>> City had the rights to participate. >> Right. >> East River was doing a 17 billion gallon a day >> expansion. Sarasota County was willing to take all 17 million gallons. >> Right. four members and Northport as the

480
02:12:46.880 --> 02:13:02.320
sole purchaser had rights to a portion of that 17 million and >> and city stepped up on our behalf at our request. >> Yep. >> But for our request, the city was not

481
02:13:02.320 --> 02:13:18.880
going to ask for any of that water. Right. >> That additional 2 million probably would have gone to Sarasota County. >> Well, sure. The city of Northport doesn't have $48 million nor the ability to borrow $48 million to acquire that water. So, I get it. That's another thing. Why? I mean, that just leads

482
02:13:18.880 --> 02:13:34.159
again to the importance of good partnerships. Um, so we have the water >> and we have the capability to process that water for waste water, for irrigation purposes, as well as for portable drinking water. Um certainly in

483
02:13:34.159 --> 02:13:51.840
our partnership with Madame, we've we've got a partner who's got the kind of money to stand behind these projects and advance the funds which which you have done right along the way. And again, where else would Northport have found the way to fund growth? The reality is

484
02:13:51.840 --> 02:14:06.079
we have a development partner who's advancing all this money while they're going to get reimbursed for part of it, certainly not all of it. It'll never be all of it through impact fees. Those impact fees are paid by the builders and

485
02:14:06.079 --> 02:14:23.920
property owners within the area that is being developed. So, Legacy Northport property owners aren't paying for that infrastructure. nor are even am I correct the existing west villagers paying for

486
02:14:23.920 --> 02:14:40.960
the additional infrastructure that'll be put in for the Winchester area >> correct >> okay >> what we do you know just to frame everything there are a number of separate CDD areas in well park unit one will

487
02:14:40.960 --> 02:14:56.079
cover all of Wellen park unit one is where we build the water plant wastewater plant and the roads. We have not issued a single bond since I became chairman in 2019.

488
02:14:56.079 --> 02:15:13.440
We have been able to extend those roads from our impact fee reimbursement that we get from the city of Northport. To give you a little more history, the original annexation contemplated the city was going to fund our roads

489
02:15:13.440 --> 02:15:32.239
100% of the way by reimbursements. When we did a impact fee reimbursement agreement in 20 in March of 20, we agreed to a cost share on that money. So we don't get 100% of the impact fees that are paid from Well and Park

490
02:15:32.239 --> 02:15:48.079
construction. It varies by where we're at, but generally right now we get about 70 to 80 cents on every dollar spent. The city gets to invest that m gets the balance of that money to use on other

491
02:15:48.079 --> 02:16:03.040
improvements. >> Exactly. Switching gears to roads themselves. Okay. One of the concerns everybody has obviously is connectivity and congestion for legacy Northport. I mean, I I have a hard time understanding

492
02:16:03.040 --> 02:16:19.119
how 7,000 67,000 homes up in Englewood on the Northport line there are going to impact legacy Northport traffic, but it will as as traffic might in an emergency flow down through River Road and all the rest.

493
02:16:19.119 --> 02:16:35.920
That was a concern the county had. Okay. That River Road be widened on the south end, right? South End is it from 41 up towards Englewood? And um how could you explain for people very simply

494
02:16:35.920 --> 02:16:54.800
and shortly how that cost is being covered so that the legacy Northport property owners, taxpayers and the well in part West Villages existing property owners understand that they are not

495
02:16:54.800 --> 02:17:10.559
bearing the cost of the widening of that road. >> Okay. At the time the critical area plan was approved in 21, river road was already failing which meant the county had to improve that

496
02:17:10.559 --> 02:17:25.760
road. We had no effect on the road at all. And if one looks at a map, paro west village parkway actually parallel river. when he and happened, Chairman Kudzinger

497
02:17:25.760 --> 02:17:44.240
made it a mission of his to get the hurricane evacuation route for River Road built and he has spent numerous hours, days, weeks working on funding for that road. Spencer Anderson,

498
02:17:44.240 --> 02:18:00.479
the county engineer, approached us in February 24 and basically said, "Would you be willing to take the lead on the engineering because you've got the flexibility to move quicker than we do?"

499
02:18:00.479 --> 02:18:17.920
We entered into an agreement in July of 24 to take the lead and finance it, fund it 100%. So, we've done it through the West Village Improvement District have funded $7.3 million for the engineering.

500
02:18:17.920 --> 02:18:34.479
That's why I said right now up until today, we're the only ones that have invested any money in River, South River Road. Now, the hurricane evacuation route is more than just South River Road. It is River Road from 41 to Winchester and then Winchester from

501
02:18:34.479 --> 02:18:54.399
River Road down to the county line. The estimated cost of all of that is roughly about85 to $88 million. Last I knew, Chairman Cudinger had roughly between 55 and $60 million

502
02:18:54.399 --> 02:19:09.599
of that money. Now, how much is Winchester? How much is River Road? I think it's about 70 18 something like that on top layering on top of that

503
02:19:09.599 --> 02:19:28.559
7.3 million that would have been part of that budget we're funding up front. Also in that agreement it contemplates a land swap. We knew with the design the C at the hairpin curve the county was going to

504
02:19:28.559 --> 02:19:44.880
need land four to 10 acres was estimated we built in because when we did the land donation years ago for River Road there was a number of storm water management facility areas

505
02:19:44.880 --> 02:20:03.439
we built in the concept of a land swap. So, what it looks like is going to happen is one or two of those areas adjacent to where we want to put commercial are going to come back to Wellen Park as we give them other land.

506
02:20:03.439 --> 02:20:19.760
And it's meant basically to be a acre for acre or proit portion basis. So, we may be able to pick up some areas for commercial that benefits everybody. They

507
02:20:19.760 --> 02:20:37.439
get what they need for building the road purposes. We've gone so far as playing temporary runaround lay down areas. Usually, when you build a bit of road, got you make the contractor go find your own layown yard and that becomes an added cost. We've we've done that. We've

508
02:20:37.439 --> 02:20:53.120
planned for the road. There'll be some pipe improvements that will ultimately on from that 88 million be reimbursed to the county from Wellen Park or WVID irrigation lanes. We've planned the uh

509
02:20:53.120 --> 02:21:09.439
budget right now, not part of the 88 million is a landscaping of the boulevard on it. We want River Road to look like 41 through Wellen Park. That estimated cost is $4.2 million. That'll

510
02:21:09.439 --> 02:21:27.359
be borne just by WVID from our impact reimbursements or Wellen Park. So, >> so we are working with them to help the shortfall. We're working with city staff to see if we can work on an agreement where our

511
02:21:27.359 --> 02:21:44.560
impact fees from Winchester are used also kind of like we did on North River Road but again that comes from the city's prora share of our impact fees not legacy Northport got >> and it look it appears collectively

512
02:21:44.560 --> 02:21:59.359
>> between our front funding engineering impact fees and then other reimbursements we're going to have for things we've built into the plan. You know, we're going to come to the tune of 15 to$20 million towards that roadway improvement.

513
02:21:59.359 --> 02:22:14.800
>> All right. So, good. So, water we got covered. Roads we got covered. Both of which really don't end up Let me just on River Road. >> County is going to I believe approve the

514
02:22:14.800 --> 02:22:31.359
wetland mitigation agreement tomorrow. We believe we'll have that permit this summer, probably closer to Labor Day, which means they can build bid the road by the end of the year. >> All right. So, I mean that the process is being worked on cuz these are the

515
02:22:31.359 --> 02:22:49.840
areas that everybody's concerned about, not just us, but everybody who lives in and around this area. So we got water, we got roads, um you know, uh percentage of commercial or non-residential development. I mean, the

516
02:22:49.840 --> 02:23:05.200
city of Northport historically we're running under 10%. I don't know if we've creeped up above that, but certainly we're down. If I looked at this presentation, right, you know, we're somewhere in the 14, 15, 16, 18. I mean, we're somewhere

517
02:23:05.200 --> 02:23:22.800
closer to that 20%. We should to to to it'd be wonderful to city could get to 25 to 30% non-residential tax base. That's probably not happening certainly in my lifetime. But the commercial development in the overall West Villages

518
02:23:22.800 --> 02:23:38.560
plan here accounts for I think you said a couple hundred,000 square feet. Um, >> couple million. I mean a couple hundred billion square feet. So, you know, we're talking about significant commercial

519
02:23:38.560 --> 02:23:55.040
development. When you add downtown, when you add the centers that will be at play at uh Maninnesota Beach and West Villages, when you consider the Benderson development, even though that won't be your it won't be owned by West

520
02:23:55.040 --> 02:24:11.840
Villages, it'll be a Benderson development. We're looking at significant, but it will be within the city of Northport. be tremendous commercial revenue generated supported by the residential development that's going on around because after all

521
02:24:11.840 --> 02:24:29.600
certainly Costco wouldn't have come to the city of Northport if it hadn't been for West Village's development. Okay. So we have to bear all that stuff in mind. The final piece that I have questions on then I'll I'll relinquish the floor is the environment. Okay, these 7,000 more

522
02:24:29.600 --> 02:24:45.520
homes. I mean, there are people who said, "Oh my god, all this beautiful ranch land, this swamp land's going to be turned into development." Well, some people like development, some people don't. Some people would like to close the door on development after they bought their house and not let anybody new. And I get all that stuff, but the

523
02:24:45.520 --> 02:25:01.920
reality is you have property rights that give you the ability to develop, to get past the issue of let's stop it. It's not going to be stopped. The legal rights give Madame the right to build and develop here. To me, it's how it

524
02:25:01.920 --> 02:25:18.080
gets developed, how it gets managed properly, how it gets done correctly. So, you know, one of the concerns here is obviously the Maka runs right down through. So, we got two issues. One, protecting that area, which is sensitive, environmentally sensitive.

525
02:25:18.080 --> 02:25:35.280
We've got a state forest up there that's off of River Road. Um, we've got storm water management issues that obviously we've seen how master development takes care of that, but what about some of the other areas that may not be part of West

526
02:25:35.280 --> 02:25:52.080
Villages? How, if at all they may be impacted? So, if you could shed a little light on the environmental side of this and how you've bore that in mind as as you've planned this out, I think that would help some of the people as well. >> Okay. You said Maka.

527
02:25:52.080 --> 02:26:06.880
Out of all the property we have, we only have one village that is adjacent to the Maka River. >> We're working on a master concept plan on that plan right now. And we have actually worked with Ron Cudinger and

528
02:26:06.880 --> 02:26:22.720
Jonathan Lewis at the county to dedicate a portion of what's immediately adjacent to the Maka River. Roughly 60ish acres will go to them for perpetual and their environmentally sensitive land which

529
02:26:22.720 --> 02:26:40.479
will tie a p to a piece that they have already purchased to a piece swift mode and it will give us over 200 acres of support >> about 100 in between >> there'll be about 200 acres >> total in two yeah >> you know uh

530
02:26:40.479 --> 02:26:56.640
as you go south we do south of east river road we do become adjacent to the state forest which you know obviously we've always been got cattle operations for part of that land but we'll al we'll always have setback and we will plan

531
02:26:56.640 --> 02:27:13.840
appropriately for that if uh in the critical area plan it actually had uh some lighting restrictions that I'll have to work out with city staff you know for more dark skies immediately adjacent to the state forest and the piece between that and East River Road

532
02:27:13.840 --> 02:27:29.920
is where we're looking for that regional sports program uh park facility. So, we'll have to keep that in mind. We preserve the wetlands. We work with the wetlands into our plans. But there's ways to do that. That's why I ma made it

533
02:27:29.920 --> 02:27:46.240
a point because I'm really proud of it. You know, we've only affected 2.39% of our total wetlands, which, you know, being from up north, when you think of Florida, it's, you know, fill the swamp land in. You know, we filled in low

534
02:27:46.240 --> 02:28:02.000
areas, but we did not fill wetlands in. You know, we planned for that just like you, you know, and I know the flood plane changed dramatically in March of 24 because FEMA updated their maps. We'd been working for 5 years to meet those

535
02:28:02.000 --> 02:28:17.680
maps. That doesn't mean we can't don't have to go back and change them because they wouldn't take the data between 19 and 24. And we're doing that. We're making sure every home is out of a flood pl. We're designing those storm water basins. We're thinking of that. I've

536
02:28:17.680 --> 02:28:33.680
already done a study on how best to handle storm water for all of the Winchester property and how it ties into it because it also affects our master plan from the West Village Improvement District for our irrigation program. These are things

537
02:28:33.680 --> 02:28:49.840
a normal developer does not need to do in advance. We need to do them because we wear many hats on many issues all the time. And I, as you know, I tend to be a conservative person. I do not want to

538
02:28:49.840 --> 02:29:06.160
leave and retire, leave the West Village improvement district or Wellen Park without all these strategic things thought through and planned for. Appreciate it. that I mean again as we go forward because this is a process and

539
02:29:06.160 --> 02:29:23.120
it will take many many months to put all this together and get you know walk through the steps but always the water the roads and the environment are the issue to the extent you collectively staff and and and you John and your folks can message this to our community

540
02:29:23.120 --> 02:29:38.240
there's so much misinformation there's so much misunderstanding I ask a lot of these questions because we need to flush all this out people need to understand I I I mean, you know, I live there. I supported this before I understood even

541
02:29:38.240 --> 02:29:56.319
what it was while I've lived here and into the future. This is in my estimation a winwinwin all the way. I have a very hard time finding negatives. Other than the general negative, which is please no more building. Well, I get

542
02:29:56.319 --> 02:30:14.880
that. But in this state, people have property rights. And if I owned a couple of lots in Northport for the last 15, 20 years, and I planned on building my dream home, if the city of Northport or any legal mechanism we had put a hold or

543
02:30:14.880 --> 02:30:30.800
a moratorium on building, it has to be equitable. So, we may be able to say to the big developer, "No, we don't want any more homes here." But you're going to also have to say that to me who owns those two lots who have waited 20 years to build my dream home. Property owners

544
02:30:30.800 --> 02:30:47.120
have rights and that has to be respected. Once you respect that and accept the fact that development is going to happen, it needs to be done smartly and strategically. And I appreciate the efforts you guys have made. I think West Villages is the poster child for how to do it right.

545
02:30:47.120 --> 02:31:02.960
I've always believed that. That's why I live there and I feel good as a District 5 rep there. But I really think this is a win-winwin. The final question and then I'll see the floor is the Bender development across from the Supermarket

546
02:31:02.960 --> 02:31:18.800
Plaza at West Villages in 41. I originally thought it's about 42 some odd acres that I thought would be all commercial. I understand there's a residential component down behind it sort of as you go down West Villages and approach the

547
02:31:18.800 --> 02:31:36.800
roundabout between Renaissance and Grand Paradiso is that like so does Benderson not buy all of that land? Correct. That piece which we have historically called Amus 167 is 107 acres. 1067 acres. Benderson

548
02:31:36.800 --> 02:31:52.720
brought 52 acres parallel to Tammy Amley and going north. Basically part of that was the old the prao. That's where the original Publix was going to go. >> Yep. >> Benderson will have a main access at the

549
02:31:52.720 --> 02:32:09.680
Wellen Park Boulevard roundabout and they've actually got a sign right there. It will go up to a point and then we are constructing a two storm ponds around a wetland with a trail around it and to the north there will be a residential

550
02:32:09.680 --> 02:32:25.840
component that we are going to create a pad for now and that'll be future that'll be a little higher density to play off the commercial. As you know in downtown we've tried to pack in higher density close to those

551
02:32:25.840 --> 02:32:43.680
you know mixed use commercial uses. Henderson you know we'll plan for probably a left turn across from market way probably another right in right out along 41. The right in there's a left in right out already built on West Villages

552
02:32:43.680 --> 02:33:00.160
Parkway and a little further north there's a full access built. That full access is slightly north of the Benderson property. So, as part of that, we will be building a parallel access road to West Village Parkway. For anyone in the Benderson property that wants to

553
02:33:00.160 --> 02:33:17.120
go northbound on West Village Parkway, it'll come up, have a little traffic circle, and then tie into West Vill's Parkway. That traffic circle will be owned by the district. So, South will be owned and maintained by Venderson. And this access point can also service

554
02:33:17.120 --> 02:33:32.720
future residential as well as the Benderson property. >> I get Thank you because I mean I've had a lot of people ask me that's why I appreciate you giving us I mean I get the higher densities too. You know people have asked why all the apartments downtown and everybody says Scott there's so many apartments everywhere.

555
02:33:32.720 --> 02:33:48.479
Everywhere. Everywhere. Well one the percentage of apartments in the city of Northport has historically until recently been very very very very low and we've needed them. So to me, the fact that there may be so many and so

556
02:33:48.479 --> 02:34:05.680
many appear to be still vacant, I consider a good thing because that means with supply and demand, if you got more supply than you have demand, the prices are going to come down and boy, rent should sure could be a bit more affordable. in your point on Tropia

557
02:34:05.680 --> 02:34:20.399
which are the apartments you see off of 41 and now all these additional building. I lived there for the nine months between when I sold my house in Grand Periso and when my house was completed in Wisteria and in that nine months I was in building three. I have

558
02:34:20.399 --> 02:34:37.760
to tell you, as fast as those buildings opened for rental, they were filled. And I expect the rest of those will be the same case as as they're built out and rented out. Um, and the value is again

559
02:34:37.760 --> 02:34:54.080
density. The ability to create a built-in density of residential shoppers and spenders in and around the retail and commercial development is essential if if they're going to be able to survive. every night of the week, every

560
02:34:54.080 --> 02:35:09.600
day of the week, there's activity in downtown Wellen Park all the time, which quite frankly has been nicely funded by Madame for all the entertainment, the music, and all the other special event venues that go on down there. That's all

561
02:35:09.600 --> 02:35:26.560
been subsidized by them to help build this up and make it a destination place. So, you know, I appreciate the partnership. I appreciate the effort and I'm not a naive guy. I know Madam is in it to make lots and lots of money and God bless you. You've made millions if not more and you deserve to. All we want

562
02:35:26.560 --> 02:35:43.439
to make sure in Northport is that we're treated equitably, that this is going to be a net benefit to us because why would we do it and cooperate with it if it wasn't going to be a net benefit to our city as a whole. So again, I appreciate it and look forward to learning more as as things continue to over the next year

563
02:35:43.439 --> 02:35:59.960
or two. Mayor, thank you, sir. >> Thank you, gentlemen. Very good. City clerk, we got any public comment? No public comment, sir. >> Any general public comment? >> No general public comment either, sir. >> 12:31 I adjourn this meeting.