CITY COUNCIL SPECIAL CALLED JOINTI MEETING WITH LIBERTY HILL: ECONOMIC DEVELOPMENT CORPORATION  ERTY  BOARD OF DIRECTORS (LHEDC) MONDAY -F FEBRUARY 12, 2024-3:30PM Meeting Minutes Liberty Hill Economic Development Corporation Office 806 Main St., Liberty Hill, TX 78642  *  PowN. BI0  LHEDC Board of Directors present: Tiffany Stillwell, President LHEDC Ashley Vaughn, Secretary LHEDC Amy Gandy Robert Baughn  LHEDC Board of Directors absent: Demetrice Gonzalez Branden Maiorano Gregory Parma City Council Present: Liz Branigan, Mayor Crystal Mancilla, Mayor Pro Tem Michael Helbing Angela Jones City Council Members absent: Chris Pezold Amanda L Young City Staff Present: Mary Poche,' Executive Director of the LHEDC Elaine Simpson, City Secretary Other participants:  Steve Messana- Chair oft the City ofLiberty Hill Planning and Zoning Commission/CIPAC Kenl Mongold, Mick Hawton, Dan Mitchell ofH Headwater Consulting Agency. Luma Jaffar; Lawrence Group Architects (Austin, Texas)  Page 113  Joint LHEDC and City Council Special Meeting at LHEDCI new Office 2/12/24    1) CALLTO ORDER  Tiffany Stillwell called the LEDC meeting to order at 3:33 PM Mayor Branigan called the City Council Special meeting to order at 3:331 PM all participants and al brieft tour of the new LHEDC offices at 8061 Main ST.  The initial moments oft this meeting were spent with a welcome from Mary Poche and' Tiffany Stillwell to  2) PUBLIC COMMENTS  Public comments related to posted agenda items are welcomed by the LHEDC. Board. Individuals who wish to. speak must complete a Public Comment Form and present thej form to the City Secretary before the meeting is called to order. Individuals will be allowed to speak) for up to three (3) minutes on a posted agenda item. Alternatively, Public Comments related to posted agenda items may be. submitted by email to cimpnderlisger before 3:00PM the day of the meeting. for comments to be read at the 5:301 PM meeting by the City Secretary.  There were no Public Comments.  3) REGULAR AGENDA VFWI building). (M. Poche')  a) Presentation and discussion regarding the development of Project Redo at 102 W. Myrtle (old EDC President Stillwell introduced the item and provided al brieft background report regarding the goals of the LHEDC as related to downtown development and redevelopment. (see "Sample Downtown Executive Director of the LHEDC Mary Poche explained the nature of the LHEDC as a Type 'B' Corporation and noted that as a Type B Corporation, they are subject to State statutes which will govern their participation in this project. She also explained that there is al Downtown Masterplan coming soon, being designed by Halff and Associates. The LHEDC is working in collaboration with the City's Exec. Director Poche then referenced the 2024 Downtown Goals ofthe LHEDC, and the context oft the Ms. Poche introduced members of the consulting firm Headwater; present to discuss recently updated ideas on a concept for aj project to go downtown on the property where 'old VFW' is, which has also been The consultants went through their PowerPoint presentation focusing on certain slides (see Headwater, Exhibit 'B' to these meeting minutes.) There was an extended discussion of the slide for Investment Highlights, Development Cost Summary, and then the conceptual drawings of the building with pavilion There was an extended discussion of the: need for parking, and options for building a parking structure  Revitalization Program, marked Exhibit 'A' to these meeting minutes).  Downtown Revitalization Committee on many of these items.  community input that has been received about what the residents want downtown.  referred to as Project Redo.  ini front, leading into green space area. that would blend into downtown character.  Page2]3  Joint LHEDC: and City Council Special Meeting at LHEDC new Office 2/12/24    There was no formal action taken by either the LHEDC or the City Council on this item.  4) STAFF ANNOUNCEMENIS/SUMMARY  There were no staff announcements. 5) ADJOURNMENTIS)  With no other items on the agenda and no objections from the Board, Tiffany Stillwell adjourned the With no other items on the agenda and no objections from the Board, Mayor Branigan adjourned the City  LHEDC Board at4:55PM. Council at 4:55 PM.  PASSED AND. APPROVED on February 21, 2024, by the Liberty Hill Economic Development  Corporation Board of Director on vote of  AYES,0 NAYS, and O_ABSTENTIONS.  LIBER  Tphus ShQQur0  Secretary  ASSEDANDAPROVED on February 28, 2024, by the Liberty Hill City Council on vote of_  AYES,  N  ONAYS,and DABSTENTIONS.  IIII %  hi Mayor    SOREORAT  S  Page 313  Joint LHEDC and City Council Special Meeting at LHEDC new Office 2/12/24    Shibt 'A' 2-12-24  SAMPLE DOWNTOWN REVITALIZATION PROGRAM  ATTRACT DINING, ENTERTAINMENT & NIGHTLIFE Facilitate Open Houses for empty businesses  Conduct parking & lighting assessment for pedestrianfriendlyl business atmosphere Develop strategic outreach strategy for targeted businesses to expand intol Liberty Hill Develop site sheets on available spaces to assist in outreach marketing FOCUS ON DEVELOPMENT OF STRATEGIC SITES Work with the City on ootential needed infrastructure improvements Town Hall Meetings with building owners and interested buyers Develop an Expert Team of Architects, Engineers, Designers, Lenders, etc. Other building opportunities as they materialize Work with Planning & Zoning Committee to create smart development DEVELOP DOWNTOWN GREEN SPACE Initiate Community Survey of Downtown Space Needs Explore pros and cons of green space options Consider traffic flow, parking, lighting and permitting SMALL BUSINESS & ENTREPRENEURSHIP Information Packets for Small Businesses Facilitate Training Workshops  Current building owner outreach  Consider ideal permarent and temporary yoptions for outdoor green and  space  gathering  Consider best space development for desired events, activities, arts, culture and entertainment  Obtain sample business plans for popular potential downtown businesses Host a' "Big Idea" Business Plan Contest for students and adults Create al Facade and Signage Matching Grant Program Create a Revolving Loan Fund for Downtown DOWNTOWN MARKETING STRATEGIES Aggressive Social Media Outreach Local Transparency about Downtown Revival Support Chamber and Tourism events  Campaigns Developed for Specific Audiences (Locals, Tourists, Workers, Brokers, Etc.    Aligning visions ofsa  AYS MMORA  bustling downtown  with retail, dining,  and entertainmentl,  LIBERTY HILL SMALL TOWN BIG HEART  Liberty Hill Economic Development Corporation  Exhibit 'B' 2-12-2024 EDC/Council meeting minutes.  Presented by: Ken Mongold, Mick Hawton, Dan Mitchell  HEADWATER    INVESTMENT HIGHLIGHIS  Land Overview  Improvement Overview  Location Land Size Current Zoning  Liberty! Hill. 2.124 acres 92,521SF.  Construction Type Building Size Development Costs  Mixed-Use. Retail: 34,567SF Office:. 79,963SF. $323PSF  C2 (Downtown Commercial Retail)    Development Cost Summary  Amount 28,632,500 4,828,241. 3,552,719. 37,013,460  PSF 250 42. 31. 323  Construction  TLCa and Working Capital. Reserves Development & Financing. Fees Total Construction & Development  $  Key Assumptions  Retail Suite Size  Office Suite Size  Avg. Rent  Avg. Rent  SF 34,567  SF 79,963  1-3,000 SF $30PSF (NNN)  1-3,000SF $30 PSF (NNN)  Investment Returns (5-Year Term)  Target MOIC >1.90x  Actual MOIC 1.21x  Dist. Avg >5.0%  Dist. Avg 2.69%  Net IRR 15+%  Net IRR 3.83%    Setting the Stage    with Initial Ideas:  Headwater Companies envisioned a modern  two-story building.  T  Initial use ideas included a medical office with retail, restaurants and a surface area parking.  This concept was based on careful assessmer  of the site's potential.  Visual Reference: Site plan, Concept: * #1 GE model    A Shift in Perspective  through Community  Engagement  Engaged in discussions with local residents,  business owners, and stakeholders.  AN MUR  Discovered that the project had the potential to be the centerpiece of the community.  Recognized the transformative nature of the development beyond initial expectations.    Insights from Community Collaboration:  "This project will entail a public/private partnership that allows the Cityto control and shape the destiny of downt as a vibrant core that will become a destination for everyone"Liberty Hill City Manager Paul Brandenburg"  The community aspires for more than just a building; they envision a transformative centerpiece.  A critical element emerged--the desire for hidden parking. This element will not only address practical  concerns but will create a space where people can seamlessly live, work, and play.  Transformative Centerpiece Live/Work/ Play Setting  Hidden Parking Structure Connection to Community    E aE a IE A4E F JEE  Northline Leander    IEI  The Summit At Rivery Park    09,26  MUSICIANE  Music Lane        FLOOR PLAN-LVL01  AREA COUNT  LEVEL 01 (RETAIL AND EVENT SPACE) = 34,567 SF LEVEL 02 (OFFICE AND EVENT SPACE) = 43,659 SF LEVEL 03 (OFFICES) = 36,304SF TOTAL = 114,530 SF   ALLLIT  0  LAWRENCE GROUP  Retall omce at and Liberty Building Hil    FLOOR PLAN LVL 02 ANDLVL03  AREA COUNT  LEVEL 01 (RETAIL AND EVENT SPACE) = 34,567 SF LEVEL 02 (OFFICE AND EVENT SPACE) = 43,659 SF LEVEL 03 (OFFICES) =: 36,304SF TOTAL-114,530SF  HH  0  * LAWRENCE GROUP  Headwater Retail Liberty Building Hl    LAWRENCE * GROUP    % LAWRENCE * GROUP    JONECM  E