All right. Good morning. It's Friday, March 14, 2025. And it is 8.15 a.m. And I'm calling to order the McKinney Housing Finance Corporation meeting. The first item, are there any public comments? I don't believe. No. All right. Next are the consent items. Item number 25-2543 minutes of the McKinney Housing Finance Corporation meeting of December 13th, 2024. The meetings are attached, and I'll entertain a motion to approve them. The most interesting discussion. Motion to approve. Second. All those in favor? Aye. Any opposed? All right, motion carries. Next. Next the regular agenda items and we're going to move to the second item first so that's item 25 25 45 presentation introducing NRP group Nick Walsh Vice President Development Alright, Nick, the four years. Alright, good morning. It's not pulling up. Just like when we get some rags. New City Hall. Well, Crystal gets that going. Very nice to meet you all. Excited to be here, excited to be chosen, and selected on the RFP. Excited to have to do this in front of Gene too. I feel like you can find out that you can judge me afterwards and tell me how I did. My name is Nick Walsh, I'm with the NRP group. I'm based here at Dallas. I'll get into my presentation in a moment, but NRP is a national developer of multifamily housing. That's everything from affordable to mixed income to market rate. We are based in Cleveland, Ohio, but Texas is really our second home. I'm not going to stop that. So I'll give you the slides just briefly. So we're celebrating a 30th anniversary, actually, as a company? Our mission is to create exceptional rental opportunities regardless of income. So we did start as an affordable housing company 30 years ago, only doing affordable housing. It wasn't until the mid-2000s that we also started doing the market rate and the mixed income. So really, the affordable is our DNA. Now we do everything, but it's still kind of our core mission that drives us. And even though we are a for profit company, it's great to be able to have that kind of mission that we deliver on. We are vertically integrated. So we are the developer, we are the contractor, and we are the property manager. And so really the important thing with that is that the buck stops with us. You know, if there's ever a problem at any stage in the development process, the phone call is to me, right? And this is true. I mean, Crystal can, you know, test this. I mean, we had, we had our first project, which I'll get into, you know, we were the contractor and the neighbor was upset because there was a poison ivy growing into the yard. Did that poison ivy have anything to do with us? I don't know. I don't think so. But we went, you know, Crystal got phone calls, she called me, we went out and took her in. And now, you know, we're in her management and assuming, you know, there will be problems. I mean, it's a 15 year partnership. at some point in time there there's going to be something that pops up. And so it's just that single point of contact, that single point of just being in charge of everything. So that's really important. And also, it helps us to, you know, increase the value of every stage of the process. So like I mentioned, we are a national multi-family developer. We're in over 17 states now with over 1,000 employees. Again, our corporate headquarters is Cleveland, Ohio. But Texas is really where Texas is 50% of what the company does. The other 16 states is the rest, right? So this is where we do the most. We've been in Texas for over 20 years. We go to the next slide. Just an example. So we last year hit the 30,000 unit mark in Texas alum. Everything I do is a public private partnership, whether that's with the city, County, a housing finance corporation like y'all, a public facility corporation, a housing authority, you name it. And so just an example, obviously most of the stuff we've done has been in the major mattresses, but all the different cities that we've partnered with. Like I mentioned, lots of huge developer, we're ranked in all the various trade publications and so on and so forth. Can you go back one side please? Sure. That first column would be the same for? LIETEC. So LIETEC is the loan come housing tax credit. And so the partnership that we're going to be working on is a LIETEC, 4% LIETEC transaction. And that is the federal program that finances affordable housing. Housing finance corporations in Texas, typically, until recently, only transact within the live tech space. The 4% is the non-competitive credit, and that's where we're going to get these 200, 300 plus unit projects. The 9% credit is a competitive credit, takes place once per year. Those are small. There's going to be 80 units and those are going to be only a handful of those awards are given out in the Dallas Fort Worth region. So that's the, you know, that's the experience we're bringing over 200 lead tech projects is in we'll be doing another one with y'all. Okay. Oh, your resident services is a really important thing to touch on. You know, we do it and I know Gene it, and others as well, but we partner with the nonprofit, supportive services provider. There's two in the Dallas area that we use. That one is Community Housing Resource Partner, which is the other one is Portfolio Resonance Services, and basically free of charge to the residents, it comes with just living in the property. There's a slew of supportive services that are provided. That includes, after school programming for the kids, I would like to take you guys over to our existing project at some point so you can see it, but we have the Scraight Children's activity room. Looks really nice at the grand opening. You go there now, it's a lot more, there's paintings on the walls, and it's scratched up because the kids play in there every day but that's good you know we like to see that in addition to that after school programming though it's it's also thanks for the for the parents living at the property you do have financial literacy courses first time home buyer different online you know webinars that we host as well as events in person so So it's an opportunity to, you know, this is a limit your rent is income restricted, your rent is limited to your income so that you're not cost burdened, meaning you're not spending more than 30 percent of your income on your housing costs. So the goal would be that a family can live in our property, actually start to save up for that rainy day, actually start to save up for a down payment on the house. They can work to repair their credit potentially and then hopefully we want them to leave. We want them to maybe come here and get a down payment assistance. We want them to be able to move on. So that's just part of the really nice thing about the way these projects are developed in finance. So we were the very first partnership with the McKinney HFC. And so this effort started back in 2018 when the first RFQ was issued. We were selected in 2019, and then we went through a really fun process with our wonderful city council members and everyone really was behind the project and it was great. No, that's not true. It was a little complicated. It was the first time. We were near a country club, right? People were afraid of know, people were afraid of what is a form of a housing? What does that actually mean? You know, it took a lot of education, but we ended up getting approved, both in our zoning, in our resolutions, and we broke down in July of 2020. So, just if you might not remember what happened five years ago, but there's this little thing called and, all the city reviewers were working from home that people didn't have the technology at the time to work remotely. We were trying to figure out, because these projects have strict federal deadlines that were under in state deadlines. So there's no, oh, we'll just wait a couple of months. We had to get our permits enclosed by July. and as a March the reviewers were nowhere to be found. We print plans and send them to your personal house and we end up getting through it. It was a fantastic groundbreaking and a fantastic project. I do have the video if we had time Chris. I think it's only a couple minutes. I think you click on it it'll play. This wonderful video featuring um It is not playing. You know what if I pull it up in my email it may play there. I think it will be not a presentation on both of these here. Okay let's try it. Oh there you go. Yeah. Oh. You're a genius. You'll see that Crystal is a wonderful cameo on this video. No. We have 25 minutes. Okay. Is it not going to give us a volume though? You guys are hearing things. No. We still have sound. That's right. Sorry. You could feel it whatever dialed up. Let's skip this out and see what happens. Yeah, it's not. No. But you can see how awesome it looks, right? No, you just want to be different, right? Did I? Why should you run into the ricketing tires? Those kind of look cool. Oh, sorry. They do look good. Let's see if I got it that. Sorry. I do look up. Let's see if I got it that, sorry. It just does not like me. And there's no sound. I remember one. Very good. I can skip. I'm gonna write. Here, right? Yeah. That's why I pushed while I skip. I'm going to write here right? That's what I question like. Yeah. There you go. All right. No, no, no. For tenders, beautiful music playing. Me saying something, you know, I don't know what. Sure, it's really smart of a college. But you can see, you know, the unit here, made gesturing, I don't know. Some of our council members were there. There's Chris the older, look at that. She's very happy to be there. Just talking about what a wonderful project today is and how were the best. Some of the kiddos that lived at the property made a lot of folks come out of this flag day, so we had a bunch of, you know, having to be the way it worked out. All the kids did the Pledge of Allegiance, and it was really cute. You can see the business center, you know, you can see the leasing office here. There's, you know, our mayor. Here I'm probably talking to something. Again with my hands, I didn't realize it talks to my hands. but you know, you can see here in a second, you know, the pool and kind of the amenities, but it was a fantastic event. And you know, honestly, again, I just chilled the activity room like I mentioned. A lot of folks are concerned about affordable housing, what that means, what it looks like, what type of people it's going to bring. Well, it turns out affordable housing is just as nice as high-end market rate housing. And it also turns out the folks living in affordable housing are the folks you already bump into at your bartender, one of the council members made that comment actually. He's like, I'm at a bartender who lives at the independence. And you know, your teachers, the folks serving you at a restaurant, it's nothing to be afraid of. And so I do, it was really rewarding for me when some of the folks who were really, really, really against the project, they came to the ribbon cutting and they said, I'm so sorry, I had no idea that this is what it was. So anyway, I don't know if there's, that's's the video. At some point here, I'd love for you guys. Well, one, everybody stop buying your own or the future we can maybe do a launch or something over there and you can see the just walk the property and see what it's all about. So, okay, that's it. And then you know, this is a resident who spoke. There you go, your favorite kind of moment. Yeah, so very excited to do it again. So that was the independence. That was 205 units, and yeah, that was back. We opened the doors in 22. I don't remember if I could get any of these. And it was booked hot, quickly. It was, well, yeah, that's the other thing, guys. you know, these properties usually, we underwrite, it takes about 12 months, right? You're usually looking at about 20 units a month to lease up, right? And it's a challenging process. You go through a lot of paperwork, you get to qualify, the files are reviewed, the state reviews things. Well, this one was under 60 days, every single unit. I mean, from the moment we opened leasing, the folks in the office could not get a break, which just shows you the pent up demand for this rental level of housing and for this quality of housing and mechanics. So that was truly rewarding, and I hope we get to do it again. That concludes my presentation. I would just say in closing that we were selected under the last RFQ at the December meeting where we stand now as we are going to be looking to get a project lined up. The next step for you all is we will have a bond inducement Once we have that project, we will also then negotiate entering to a Memor understanding regarding the terms for the partnership. Then we go to the city council process which will most definitely involve a rezoning. It will also involve what's called a resolution of no objection. The city council has to say they do not object to our housing tax credits that we apply for from the state of Texas. In October, we apply for the bond lottery. So we submit our application and Claire and her team will be involved in your council. And then we'll get that. In the meantime, we'll be doing the design of the project. We'll be submitting to the city. We hopefully get a bond reservation at some point early next year. And then within six months, we put a shovel on the ground. So it seems like a long time from now, but it's going to go really quick. And you guys are going to get real use to me coming up here on Friday mornings over the next year. So very excited and very grateful that we all chose on our be-again partner and super excited for this next project. Any questions for me? Awesome. Can you write a few? Have you identified a site for this yet? Are you still looking? Well Jean has one. I'm going to go check with her GPS and see where she was this morning. No. It's not in the case. It's not in the case. No, I have a few sites right now. So one of the things, one of the things that the requirements you want to be on the west side is 75. Fortunately, fortunately we do have sufficient, it's called Difficult to Develop Area. There's two ways to get a boost within this program. It's a qualified census tract or a difficult to develop area. Fortunately, especially this time around, almost all of the canning is in a DDA, especially on the west side of 75. And so, lots of sites that I've been looking at, you know, there's a challenge between your more infill opportunities, well, you're going to have more neighbors, might be more expensive, but you're going to have utilities readily available, things like that. The sites that are further out, further north, you know, north of the university, you know, even further northwest, might be cheaper property, you know, might not have as many angry neighbors coming out, but the infrastructure is not always there. So there is a balance. I would ask actually Crystal if there are preferences. We can talk about that, we can go through that at a future meeting. We did a pretty robust scorecard exercise last time, but frankly I'm going to bring whatever opportunities I can to y'all. And if there's the ability to kind of pick and choose, then we absolutely can do so. There may not be. So thank you. Yeah, that's a good question. So we'll kick off. It's probably going to be, if we rush, the permitting process will be 9 to 12 months. The idea would be we'll be fully resumed and call it by end of summer. We'll actually be kicking off full design. At that point, we would have everything lined up. We would have our bond in Newsmen done. We would have our partnership done because when we kick off, you know, that we're spending, you know, millions of dollars and consulting fees architect engineers to get the project to show right. Yeah, there are questions. Well, thank you. I appreciate your time this morning. Thanks for your presentation. All you. All right. I think we should go back up to the top or continue with. Yeah. All right. So we'll go back to item 25-25-44. Considered Discuss Act on a resolution of the McKinney Housing Finance Corporation regarding the submission of an application or applications for allocation of private activity bonds to the Texas Bond Review Board and Declaration of Expectation to reimburse expenditures with proceeds a future debt for the Millstream apartment project and containing other matters incident and related there too. Alright, I'm going to press and see if my partner is. We have a little, you all have a very nice, tragic accident. Come on, I'll go. Highway 5, let's get up. Cutting back up. All right. For instance, excuse my pardon, we had a little, we all had very nice tragic acts on here. Come on, I wait five, let's go. Kind of backed up for at least 30 minutes, I can tell you the personal experience. But I made it here, so thank you for building. EWOL in 2023, from ask the provides, the PEDCOR product, the Milstream project. And this is just an additional dollar amount. It's a go out of the construction. This for quesas for $2 million. They did a better project before. It was in the $20, $30 million range. This is just needed to finish the dollars. And they're swaps of money out and use less equity and put to some of the debt side. You all have a volume allocation of something carried forward category. And so that enables the project to really get access to that carry forward. So this act that you're taking today is just to authorize the submission to the Texas Bond Review Board of their question, $2 million of that carry forward volume allocation. Obviously the project needs to come back to you with a final financing document that did the last time around. So this is a preliminary step in the first stage of this process. As the group that you all have seen is project that you all have been asked already. So with that, it's pretty funcary. I'm not trying to answer the question, do you might have that? Any questions? So is this the two million dollar infusion of change in in I suspect we're moving the microd over the Defective. And is this like did anything bring this on or was this not planned? I think it was just a cost that it revolved in the course of time. So you know, hand, it's a nice way to do that if you have volume allocation capacity. If you didn't have the carry forward, then there would be a year or two years to turn the road line for the volume allocation. So because they did this previous project with you all and it's got the same volume allocation process, they're just coming back trying to do a completion dollar. The project is still, it's a new construction still underway. And these dollars have to be used for the construction. They can't just be used to pay developer fees and things like that. Could you just show capacity after this? Still available? We have to make a route. You have about six million dollars available right now in the carry- Ford category, this would take two million about $6 million. So yes. And is that anticipated to be needed in the future that just a contingency is? It's hard to say. It's the unusual for me to see a product coming in for $4 million these days. And so if you have a situation kind of like this one with some of the product, I don't think there's anything on the horizon that would tell you that that's going to be the case. You know, that $4 million if you have that over, you know, could get used again. You know, at some point in time, the thing just drops off the radar screen and that very well would not surprise me if that's a situation here. Is there any downside to not using the capacity? It's just there just in case. No, I mean, you know, usually you have that because the product said we're going to request x and we come in at x minus 1. And so that minus 1 is it's needn't be used, and you just carry it forward. Thank you. Yeah. So that's the process. And then, as board approves this, then we'll go forward and get the application requested and follow the Vonner view board. And then we'll be back for you when we leave on at a time for the actual financing documents. Thank you. All right. Unless there's other further questions. I'll entertain emotion to crew All those in favor any opposed all right the motion All right that motion motion carries. Thank you. Thank you, Bob. Thank you, Bob. All right. The last item, agenda 25-2546. Consider discuss act on a resolution to adopt an affordable housing score card. Attached as a resolution and there's's a presentation. There is. Thank you very much, Mr. President. This is the affordable housing scorecard that we've talked about for some time. Council had asked us to come up with some type of policy for when reviewing projects that come through this. We went to council with our initial score, a scorecard back in December. We made some revisions based off council feedback. We've worked with McKinney housing authority on some feedback from them too since they received projects and we took this one to council in February and it was approved by council. So now we're here today to present it to you guys for review and approval and then we'll also present it to McKinney Housing Authority Board later this month. So when we did our housing needs assessment, it showed that households that spend more than 30% of their income are cost burdened. And in 2023, almost 50% of McKinney residents were cost burden. And then our study also showed that we needed over 5,000 units to help with the shortage of affordability. According to our 2023 American Community Survey, the average median income for individuals under 24 and McKinney was just under $55,000. And so if you think about like a college graduate trying to come back to McKinney and live or a new employee here at the city, when we're looking at that or however, but keep in mind, they also said that the average range for the individuals from 25 to 64 was approximately $130,000. But that's a very wide range and lots of our employees, professionals, working make less than $130,000. And then salary, you think about as salary for our teachers that with 10 years of experience that that range is anywhere from 65 to 78,,000. So when we're looking at this, it's really looking at a very wide range of individuals at different stages of their lives. So we've pulled this together to go through that. And with our, the incentives with the developments for affordable housing with our tax government code through our different entities, our MHA, you guys and our PFCs, it allows us to provide tax exemptions for our developers. And in lieu of doing that, we receive different payments that allow us to use those funds to further affordable housing. as's mentioned previously, that we have used an RFQ process for this for our developers. And so we might not always meet that perfect timing for when the developer comes in. They found a plot of land and they're ready to do something. And we're not issuing our RFQ for another two years. Prior to 2024, we only had 923 tax exempt units. That doesn't mean low income housing tax credits or things like that, but it was that we're tax exempt that we were partnership with and or not paying taxes. But in 2024, we saw a huge increase in request with over a thousand additional units. Of course, the sounds kind of like a lot of money but with the city tax rate this actually really is less than 2% of what the city would be receiving. So our proposed scorecard which was approved by council and again we're bringing it to you guys and we'll take it to the HFC. It has eight different development points that we'll look at and we'll go over those here in a few minutes. And then, but the main thing about the scorecard is we're also requiring at least 5% of all units to be 30% AMI and below. We have not had that in the past. It's always that 50% of the affordable and then nothing else matters. But when we look at what that, our target AMI is area median income, what we're trying to really reach with that study, it's shown we really need some 30% units. So we are requiring that to even look at a project moving forward. So the process on this will be, it's really twofold, you know, the city acknowledges that we need more affordable housing but we currently don't have the policies in place to review these projects and so that we don't have to do an RFQ and we're all on the same page. We don't want developers to be able to go to different entities and try to get different responses. So this way we're all going to be using the same card. So whether they come to us, they go to MHA or through our PFC, we're all going to be looking at it the same way. So we would, they have to meet the requirements, would receive the application and the application fee, we would review it. If it met the points, there's a minimum points, then we would then take it to council. If council provided support, we would then bring it back to the board. We would do a further analysis, and then the board would decide if they were going to approve it and move forward with the project or not. So just because an application is received does not mean that it will receive exemptions. Because this is, of course, for rental projects, it's not for like our single family. But these are our eight different categories. They're kind of large, they're several of them. We're looking at the amount of affordable units. It's a point basis, so it goes anywhere from one to zero, actually zero to four points, depending on what information you're providing. Obviously, if you're providing more affordable units, the greater affordable units that you're provided, the additional points that you'll get. On the affordability level, again, this year. Is the affordability defined as the 50% AMR or the 30% are all the above? All the above. So it will list in here if they're looking at 75% to 69% if there, it has to be below the 80%. It is definitely below the 80, but you also can have additional if it's below the 50 to 55. So things like that. I would thought that was the 40-bell when you level right here. Yes. That this is... That's the number of years I guess 5 out of 50 in Azure. Yes. And then also we look at our housing tight, whether it's single family, multi family. We have most of our LI Tech, all of our LI Tech are really multi family deals. So if they happen to be doing a single family deal that's something we can do, they would get additional points in that. Are we seeing many, I'm sorry to distract, are we seeing many single family rental affordable projects? I just don't know. I'm not sure. And then again, in the rental saving. Are we seeing many I'm sorry to distract are we seeing many single family rental affordable projects? I just And then again in the rental savings Tax exemption the projects to provide the greater amount of rent savings compared to the tax exemption that the property will see will be awarded more points and then granting entity benefit. These are the one-time benefits that receive like the acquisition fees and project fees. The granting entity will be awarded more points with the more benefit that the city is receiving or the taxing entity is receiving. The granting benefits of recurring, these are projects that where we receive lease payments and fees on an ongoing basis. Again, the greater the amount, the more points that receive location. You know, we definitely want to avoid trying to have all of our developments in one location. So there's points if it's on the west side and then even, you know, definitely the the north west side. So there's points depending on where they're at. And then the project type. We have put an emphasis on the rehabilitation of current projects because without that, these developments would probably never be renovated. It keeps them affordable longer. We do get points for the new builds as well. They get three points as opposed to the four. But there is a greater emphasis on rehabilitation. Of course, so that is our eight little things. Of course, this is, we anticipate this is a starting point. We, once we start reviewing these, there will probably be things that we're going to have to change at some point. But we did take it to Council approve. We will take it to MAs later this month. Now we have it before you for your approval so that we all are on one page when reviewing these developments. What's the line for North South? I know the line for East West 75, but what's the line for the 380? 380, okay. Because if you notice, like, yes. The line is okay, yes. Oh, that's awesome. I'm going to try to put it in crystal, but both of this is standardization of decision-making and inclusive three-body. Right. And then the scorecard is a governance mechanism that puts it in place. Absolutely. Is there any sort of tie-in to your big rocks or this year or the year or the next year in terms of capacity utilization or the amount of funds being allocated or anything along those lines? No. Okay. What was that? We do look at, we look at, what we had in there at one point. Of course, just because we meet the threshold and goes to council, doesn't mean it will be approved because it does have to have the 12 points to move forward. It could have the 12 points, it could not have the 12 points for some reason and it'd be a project that we really feel needs to happen and it could still move forward. We did have in there one point kind of looking at how many projects have already said yes to what's the amount that's impacting the tax and do we want to move forward and it was suggested we remove that. As far as the priority of locations is that based on that's just where the biggest need is or's nothing in the North West That is correct, okay, and we don't want to concentrate low income units in one area this city, okay? And and so what you were saying was that regardless of how the point that project scores if we if some for some other metric That's on in here in the council and we really want to move forward. This is just to help us discuss it. We're not bound by, we have to pick one developer because they meet the point system perfectly. Correct. Correct. And this allows it just to be more of an open door policy because that RFQ is only opened during a certain period. This means throughout the year as something comes up, you could take the time to look at and decide it. And it's like to communicate out to developers like here's how we're in a process. Like we're not bound internally like we could pick in theory as a one-point project over a 48-point project in theory. Yes, but I guess this is open sources in a way that's the levers that we use and the and the emphasis that we put on those? So it just makes it a little like that. Is this something that a lot of other cities like have scorecards like this? No. No. Okay. Not that we've seen. I appreciate that. I don't know if you've met that before. Alright. Are there any other cities that kind of do this and have we got any feedback on that? They may. I haven't seen others that do, but I'm sure there's probably some of those. When we first started doing RFQs, most don't do that. It's usually an open process and they just kind of accept them as they come. But this gives us a standard base for all of our local entities. Are these the ones we used in the fall kind of to evaluate? We're starting to look at them now. So we use a different set of metrics in the fall when we looked at. Right. Right. That was our RFQ metrics. And that's something that we can look at at the next phase. This is just the initial phase to see what the points are. And then we'll take a more of a deep dive once it's gone to council. If council gives, it's OK. We will then move forward with additional information. What was the genesis of the Bill of the School of Obstetianization? What if it was there, was there a certain amount of pain being endorsed by city council? It's just that we are getting so many requests. Again if we go back to prior to 2024 you know we only had 924 units and now just in 2024 we've had the request of over 1,000 units. Is it people requesting to get one of these units? It's with the developers requesting to partner and receive a tax exemption. So like if you look at the independence, it was 204 units. So that 204 would count as part of that 923. This is requested, not requested. Yes. So a lot of these are McKinney-Hausen Authority here lately. They've had several developers come in request to work with them. Again, we've only had two projects. McKinney housing finance corporation has partnered with the Independence and Plattia. Those are the only two. So our number here is a lot smaller of that 923, you know, because independence is 205 and then play them as 172 the rest are Imagine. All right, so the supercarsers they go to M.A.J. instead of us because they don't need our out of the financing. They would get the financing through M.A.J. What would be the why would a developer go one way or the other just? The deal that they could get. This is going to standardize that so they won't go to one versus that, or they'll work with whom their preference is. Is the city wanting people to have either? Oh yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Absolutely. Why would they not funnel it through one central? Yeah, that's right. And then have it funneled down. Developers are used to partnering with housing authorities. Other developers are used to partnering with HFCs. It could be who is accepting developments at the moment. you know, because since RRQ is very limited, MHAs was open, so they would get several of them. Now it'll put us all in the same playing field. Okay. And I think granted this kind of getting to this, but like has the City Council given any guidance on like the total number of units they want to have tax exempt? Because we can't have the whole CityB tax exempt. No, but this helps with that as well because it does go before council and each time we present this, we will show where we're at on the exemptions how many we have. You see that number still says we're short 5,000 units that need to be affordable. Now do they all need to be tax exempt? Absolutely not. Are they going to have to be tax exempt to be able to to those numbers more than likely? So Chris, I wonder, and this is like, you know, a number earlier in the year, actually, last year. Earlier last year, we were talking about marketing budgets, right, and the, you know, aligning programs to that. So would the goal be that, you know, when the gap to goal is less, then we would spend marketing dollars or whatever or how to call to action to go through and for about that board. Or is it just more of them just understanding, hey, there's a gap to goal and we're not going to be at this yet. Or yeah, like we're definitely want to approve this project because our gap is so large. Like it's not, it's, yeah. Yeah, and even with, I mean, you look at that 30% gap, most of those are in the 30%. And if, you know, know we most deals won't pencil if you have a lot of 30% units so that's why we're only requiring 5% so if we're only doing 5% of those units at 30 each time which is 20 of them or something we're not gonna hit that on yeah. And 200 unit project that's going to be 10 units towards the thousands. It's a really big picture question. It's pretty well identified that one of the major gaps we have in the area is opportunities for first time home buyers. We're trying to fill this gap for the rental, but is there any place in this scorecard for China, who's going to come up with a project that will help that town home comfort. We are coming up with a project for that, but it is separate from this. That will be on our next. Okay. Yes, I was just curious. We had so many items on here today that took that off, but the Community Land Trust is next and our current development, we've just kind of a, we've got 24-ton Okay. And those will be for home ownership, not rental. Any other questions on the scorecard or entertain a motion to approve it? Sorry. Second. So the motion would be... Oh, I was saying I was entertaining motion, but... First. Yes. I usually have to repeat I make a motion. All those in favor? All right. Any opposed? All right. The motion passes. Any other board comments or manager comments? All right, entertain a motion to adjourn. Make a motion to adjourn. All those in favor? Aye. Any opposed? All right. That's it. I'll give you a second. I'll give you a second. All right, we are adjourned. Thank you very much.