SmartTranscript of S.127 CoC - 2025-05-30 - 2:10PM

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[Chair Allison Clarkson]: Yes. We're live. Welcome back, everyone, to [Vice Chair Randy Brock]: the [Chair Allison Clarkson]: Senate House Conference on s one twenty seven, the omnibus housing bill. It is the thirtieth of May, the last day. No. Second to last day, but the last we'll see. And it's now two zero seven. I wanna set the stage by saying [Committee Assistant Heidi Wilson Parker]: Not three zero seven. [Chair Allison Clarkson]: Two zero seven. Two zero seven. [Vice Chair Randy Brock]: Oh my god. Right. Don't do this simple house. [Chair Allison Clarkson]: Don't do this to me. I wanna set the stage by saying, when I started this, the first thing I said as a kind of understanding is that nothing is decided till everything is decided. The reason for that rule is that my experience has been in the negotiations, particularly as they go on late in the day, people say things, bundle things, and then they didn't mean it or they thought they said something and they didn't say something or they said something and it was wrong. And I think no one here is attempting to act in bad faith. So we think, you know, we think we understand what the order of things was and you think differently, and that doesn't bother me in the slightest. It's not an atypical situation. That said, we agree. We have a deal. [Vice Chair Randy Brock]: Thank you. [Speaker 3 ]: Thank you. [Vice Chair Randy Brock]: Thank you. [Chair Allison Clarkson]: Do you hear me, Allison? [Committee Assistant Heidi Wilson Parker]: Thank you. Calling. Thank you. And and and thank you for this step for really creating a new tool for housing creation. Thank you. I'm kissing I'm sending blowing you a kiss instead of shaking your hand. [Chair Allison Clarkson]: So, Alex, we're not sure. Yes. We just a minute. But, let's what's happening is [Speaker 3 ]: I just have a drafting question. [Chair Allison Clarkson]: No. No. [Vice Chair Randy Brock]: No. No. It's just It's [Chair Allison Clarkson]: it's half of the cap is three zero. Yeah. [Speaker 3 ]: So page forty nine. Yeah. [Chair Allison Clarkson]: Just slab up. [Speaker 3 ]: This is the adjustment of percentage. Right. And you moved it to tenth year. Yes. Yeah. Okay. So, again, this is not my bill, so I'm just trying to make sure Yes. I is dotted. No. No. That's fine. When you read it, during the tenth year following the creation of a housing development site, the municipality shall submit an updated tax increment financing plan. You get down here based on tax increment financing debt actually incurred in the history of increment generated during the first five years? Or is that all of those supposed to be ten should be okay? Thank you. [Committee Assistant Heidi Wilson Parker]: I I Jessica didn't Yeah. I'd ask this. Is Jessica there? [Vice Chair Randy Brock]: She is not any longer here. No. Is she my finder? Yep. She's right outside. [Committee Assistant Heidi Wilson Parker]: It's Jessica. We're there. We've got her here. But I I think I would feel more comfortable if we had Jessica to confirm it. She's the expert. Great. [Speaker 3 ]: Okay. [Chair Allison Clarkson]: But what I was gonna say is there's even with these little changes, he's having to finalize it and print it. So that will take about ten minutes. So could I ask you guys to just stay with us here? And then because we have to do is we have to sign one, all of us. And then I Allison, what is the methodology you can use? How can we have Allison sign one? [Committee Assistant Heidi Wilson Parker]: Gonna share it with you because Delia enabled me to do this. I have a virtual signature I can email to Anna Grace. [Vice Chair Randy Brock]: But what [Committee Assistant Heidi Wilson Parker]: we whomever is can apply it. Cam, do I send it [Speaker 3 ]: Cameron? [Chair Allison Clarkson]: Cameron. [Committee Assistant Heidi Wilson Parker]: I will send it to Cameron. [Vice Chair Randy Brock]: Drive. Yes. I can drive? [Chair Allison Clarkson]: We'll either that or we'll just sign your name now. [Speaker 3 ]: If we ask, we can get Delia in here too. [Committee Assistant Heidi Wilson Parker]: Delia Delia can sign my name to anything. [Vice Chair Randy Brock]: Well, no. But she can help. [Chair Allison Clarkson]: Let's see [Speaker 3 ]: if we need help. [Committee Assistant Heidi Wilson Parker]: So, Cam, I will email you my signature. [Vice Chair Randy Brock]: Okay? Okay. [Committee Assistant Heidi Wilson Parker]: I this is embarrassing. I can't believe I'm saying this on YouTube. I don't know how to can I just move you over as a screen and then send it to you? [Vice Chair Randy Brock]: You see there's ninety percent email. [Speaker 3 ]: I don't know what's [Vice Chair Randy Brock]: that mean. Your email and it'll stay on. [Speaker 3 ]: Yeah. Ninety days Okay. [Committee Assistant Heidi Wilson Parker]: Only integration saying that's recorded. [Vice Chair Randy Brock]: Nope. Okay. [Speaker 3 ]: I'm saying I'll find a report. [Vice Chair Randy Brock]: Go away unless you actively leave the meeting, senator Clarkson. [Committee Assistant Heidi Wilson Parker]: Okay. I I'm doing it. I'm saying this to Cam and to you. [Vice Chair Randy Brock]: I I don't think it's highlighted anymore because we had agreed to it. [Speaker 3 ]: That's all I was saying. It is on the end page. [Vice Chair Randy Brock]: You can also cc Delia on it. Okay. I [Committee Assistant Heidi Wilson Parker]: will That might be helpful. [Vice Chair Randy Brock]: Page forty two. Okay. At the bottom, under sub three under That was Yep. [Speaker 3 ]: Increment generated. Is it five years or ten [Vice Chair Randy Brock]: years? It's a ten. It's ten years. Ten years. Because Okay. Think it well, you know what? Ten. Right? Oh, I read them so much. I'm sorry. I'm gonna get hurt about it if I don't. Because forty [Speaker 3 ]: It's forty [Committee Assistant Heidi Wilson Parker]: Is is Jessica in the room to confirm? [Speaker 3 ]: Yes. Yes. Yes. [Chair Allison Clarkson]: But Jessica. [Vice Chair Randy Brock]: Thank you. [Speaker 3 ]: You wanna turn that up? [Vice Chair Randy Brock]: Candid. Right. I believe that that should say the first five years. [Committee Assistant Heidi Wilson Parker]: Sorry. That's what I thought. [Vice Chair Randy Brock]: Because because what happens is you you incur debt for five years and then you retain the first five years of debt. And then at that fifth year marker, you look to see if you're on track to continue to retain for the next five more years, ten more years, because you'd be retaining debt for twenty years. So you incur debt for five, retain for twenty. But I will double check the TIF statute because that's what this should be mirroring. And hold on. I will get. The HFA, if I add that back. Alright. Just give me a quick second then I can [Committee Assistant Heidi Wilson Parker]: Cameron [Speaker 3 ]: Yes, ma'am? [Vice Chair Randy Brock]: Very important point. I am being extremely sarcastic. For some reason, they combine, like, my old unmarried name with my there's a there's an old middle initial in there. Okay. Yeah. So go out? Yes. [Chair Allison Clarkson]: Oh, Asia k? Yeah. You're not Asia k? [Vice Chair Randy Brock]: Not. I'm not. I don't even know why I looked at that, but Absolutely. It's not. It could be right up there. [Speaker 3 ]: We didn't really talk about it much, the effective date. Everything is July one. So what what it will be is July one with the repeal of the landlord certificate going into effect on passage and then the DHFA thing we talked about going into effect on passage. Everything else is July one. Alright. Very important aspect of the business. Okay. K. [Vice Chair Randy Brock]: Okay. So, it says during the tenth year following the creation of the tax increment financing district, the municipality shall submit an updated tax increment financing plan to the council, which shall include adjustments and updates of appropriate data and information sufficient for the council to determine based on tax increment financing debt actually incurred and the history, it should say ten years, and the history of increment generated during the first ten years. [Speaker 3 ]: Yeah. Good. Okay. Great. Thank you. [Vice Chair Randy Brock]: Page forty nine, we should change the five to ten [Speaker 3 ]: so we could [Vice Chair Randy Brock]: actually It should have a ten. Yeah. [Speaker 3 ]: It should be ten. It should be a trip down. You have no idea. [Committee Assistant Heidi Wilson Parker]: It should make sense [Vice Chair Randy Brock]: because you can retain debt for twenty years. So you'd want to check-in at the halfway mark. I just did you wanna make sure you felt like you understood the two hundred million and where it shows up in each place? Yeah. I just wanna confirm that Pepsi will be authorized to [Chair Allison Clarkson]: sorry. To [Vice Chair Randy Brock]: a print To a print. Two hundred million dollars in increment every year for the next ten years so that the total amount is two billion dollars [Speaker 3 ]: I can't argue with that question. [Vice Chair Randy Brock]: Well, I think so. Because this because the reason we're not confused and I don't wanna have to come back is that when the spreadsheet was being explained that in the forty million dollars when the forty million dollars was there and not the two hundred million, it said approved no more than forty million in aggregate lifetime education property tax increment retention, but then somehow it conflated to Vepsi would only be able to approve fourteen million dollars a year. [Committee Assistant Heidi Wilson Parker]: No. Okay. [Chair Allison Clarkson]: No. Yeah. Okay. So just wanna okay. [Vice Chair Randy Brock]: Because when I'm writing these guys, I'm gonna be putting in that you guys are We were trying to good with two hundred and then Yeah. Last night too. I mean, we should probably make sure we all have the same understanding of what that meant. That was the amount of increment that can be retained. [Chair Allison Clarkson]: Retained income and Right. Ended up forty million. Now it's two hundred. [Vice Chair Randy Brock]: Okay. Okay. Over the lifetime of the twenty year lifetime of the project. Million. Was that the difference? No. That's the The fourteen was a concept of how we arrived at forty. [Chair Allison Clarkson]: Yeah. It's an intermediate number in the formula that calls. [Vice Chair Randy Brock]: Okay. Alright. I just wanted to make sure okay. Alright. I just wanted to make sure that when we when we run this program, we are gonna be able to tell municipalities that we have two hundred million dollars of influence. Yep. It was to give as an understate to approve. No. No. It was their exposure seven per year. Have a lot of money. [Chair Allison Clarkson]: Gotcha. [Vice Chair Randy Brock]: Okay. Of the property tax sent at this year, which [Chair Allison Clarkson]: is a [Vice Chair Randy Brock]: Okay. Then that that form [Chair Allison Clarkson]: signature, but we don't know how to get it on a physical [Speaker 3 ]: I assume. [Vice Chair Randy Brock]: Exactly. Okay. Thanks. [Speaker 3 ]: Thanks. Yep. [Chair Allison Clarkson]: Yep. It is a good step. [Vice Chair Randy Brock]: Is the five million I haven't got to. I haven't talked to. [Speaker 3 ]: It's just a little bit. [Vice Chair Randy Brock]: What are [Chair Allison Clarkson]: you looking for? The five million. [Vice Chair Randy Brock]: I don't think we need to stay locked. [Chair Allison Clarkson]: We don't need [Vice Chair Randy Brock]: a lot. [Chair Allison Clarkson]: Wait. Wait. Wait. Wait. We need we should stay live to sign to sign. So I'll tell you what we're doing is we're in recess until we'll come back for signing. But right now, we're just dealing
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