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20190709ppt_regular mtg _budget work sessionWelcome to the Prosper Town Council Meeting. The 5:45 Agenda Briefing takes place in the Executive Conference Room behind Council Chambers, and is open to the public. The Regular Meeting and Budget Work Session will begin in Council Chambers immediately following the Agenda Briefing at approximately 6:15 p.m. Agenda Briefing July 09, 2019 Agenda Item 1. Call to Order/Roll Call. Agenda Item 2. Questions about items listed on the Regular Meeting Agenda. Agenda Item 3. Discussion items. • Discussion on Town Support of Nonprofit Organizations. (HJ) • Discussion on Agenda Briefing Format. (HJ) Town Council Meeting July 09, 2019 Agenda Item 1. Call to Order/Roll Call Agenda Item 2. Invocation, Pledge of Allegiance, and Pledge to the Texas Flag. Pledge to the Texas Flag Honor the Texas flag; I pledge allegiance to thee, Texas, one state under God, one and indivisible. Agenda Item 3. Announcements of recent and upcoming events. Agenda Item 4. Consent Agenda Items placed on the Consent Agenda are considered routine in nature and non-controversial. The Consent Agenda can be acted upon in one motion. Items may be removed from the Consent Agenda by the request of Council Members or staff. Agenda Item 4a. Consider and act upon minutes from the following Town Council meeting. (RB) • Joint Meeting with the Prosper Economic Development Corporation –June 25, 2019 • Regular Meeting –June 25, 2019 Agenda Item 4b. Consider and act upon an ordinance amending Ordinance No. 18-71 (FY 2018-2019 Budget). (KN) Agenda Item 4c. Conduct a Public Hearing, and consider and act upon a request to rezone a portion of Planned Development-43 (PD-43) and a portion of Planned Development-65 (PD- 65), to Planned Development-C (PD-C), to allow for an Automobile Sales, Service, and Leasing facility (Ford), on 17.1±acres, located on the north side of US 380, west of Mahard Parkway. (Z18-0013). (AG) Agenda Item 5. Citizen Comments The public is invited to address the Council on any topic. However, the Council is unable to discuss or take action on any topic not listed on this agenda. Please complete a “Public Meeting Appearance Card” and present it to the Town Secretary prior to the meeting. Agenda Item 6. Discuss Town Hall Lobby Art and Accessories. (RB) Art & Accessories Project Phase 1 -Complete •Artwork and plants for public areas Phase 2 –In Progress •Lobby and Stairwell Art Lobby Art Recommendation •Metal Sculpture -Silos •Wood Sculpture -Texas Railroads •Photograph on Canvas -Windmill Southeast Wall Conceptual image Northwest Wall Conceptual image Conceptual image Northeast Wall Stairwell Landing Art Concept Photographic Prints on Canvas Conceptual image 3rd Floor 72” x 72” 2nd Floor 72” x 72” 1st Floor 72” x 36,” or collage Lobby Christmas Decorations •Interior designer to redecorate existing pieces •New color scheme, additional decorations •FY 2018-2019 budget savings -$10,000 Exterior Christmas Decorations •Exterior wreaths for Town Hall •Lights, garland, and wreaths for Main and Broadway light poles •Decision Package in FY 2019-2020 Proposed Budget •Decorations $29,200 •Installation $6,500 Lobby and Stairwell Art Cost Estimates Metal and Wood Wall Sculptures $16,000 Photograph Prints on Canvass (4) $6,400 Agenda Item 7. Discuss the FY 2019-2020 Proposed Budget. (KN) TOWN COUNCIL BUDGET WORK SESSION July 9, 2019 Review 2019 Major Initiatives from Strategic Planning Session 2 Review of FY 2019-2020 Budget Calendar •July 25, 2019 Appraisal District Certifies Tax Roll •August 13, 2019 Town Manager presents Proposed Budget Certified Collection Rate/Certified Appraisal Roll and Proposed Property Tax Rate to Town Council •August 16, 2019 Finance Subcommittee Reviews Proposed Budget •August 27, 2019 Town Council Meeting –First Public Hearing •September 5, 2019 Town Council Meeting –Second Public Hearing (special called meeting) •September 10, 2019 Adopt Budget and Tax Rate •October 1, 2019 New Fiscal Year Begins 3 FY 2018-2019 Budget Highlights No increase in property tax rate Increased Property Valuations New Growth to Tax Roll Increased Sales Tax Receipts Increased Service Levels to Town Increased Infrastructure Improvements 4 FY 2018-2019 General Fund Budget Highlights Funded a Ladder Truck $1.650M Funded a Street Maintenance program and other various street projects $1.813M Funded Public Safety Facility FFE and Construction Enhancements $2.281M Increased approved workforce from 162 to 184 FTE positions Implemented the Enterprise Fleet program Provided a Fire Modular Building and Parks & Rec office renovation Supported a CPI Program, and completed first Kaizen event to improve efficiencies 5 FY 2018-2019 Water -Sewer Fund Budget Highlights Funded additional costs for water and sewer management fees-$1.950M Funded various water and sewer capital projects -$1.540M Executed an exclusive franchise agreement with CWD for solid waste that included more services to the citizens. Increased approved workforce from 34 to 40 FTE positions 6 Growth Pressures 7 655 669 777 915 322 378 0 100 200 300 400 500 600 700 800 900 1000 2015 2016 2017 2018 YTD 2019 Building Permits Building Permit Applications Projected Growth Pressures 8 0 100000 200000 300000 400000 500000 600000 700000 800000 900000 1000000 2014 2015 2016 2017 2018 Public Works Linear Feet of Water Lines Linear Feet of Sewer Lines 5,189 6,247 6,982 7,955 8,462 - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 2015 2016 2017 2018 YTD 2019 Utiltiy Billing Customers Growth Pressures – Public Safety 9 1,245 1,437 1,962 2,185 1,488 1,236 - 500 1,000 1,500 2,000 2,500 3,000 2015 2016 2017 2018 YTD 2019 Prosper Fire Department -Calls for Service Prosper Fire Department - Total Calls Projected 28,889 30,754 36,688 14,625 20,475 - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 2016 2017 2018 YTD 2019 Prosper Police Department -Calls for Service Police Calls for Service Projected GENERAL FUND 10 11 General Fund Major Revenue Sources: Estimated Property Tax: $14,602,011 52% Estimated Sales Tax: $4,991,187 18% Building Permits Projected: $2,06,400 10% Makes up 80% of the Revenue Sources within the General Fund Property Tax 52% Sales Tax 18% Building Permits 10% Franchise Fees 7% Other License, Fees, & Permits 4% Transfers In 3% Charges for Services 1% Fines & Warrants 2% Other 3% Property Tax Sales Tax Building Permits Franchise Fees Other License, Fees, & Permits Transfers In Charges for Services Fines & Warrants Other FY 2018-2019 Year End Estimated General Fund Revenue Major Revenue Streams Property values and TAV projected growth Debt Service –I & S Rate Sales Tax Building Permits Water and Sewer Rates Miscellaneous Fees 12 2019 Preliminary Property Valuation and Tax Revenue 13 Appraised Values History Preliminary appraised value is $4.271 Billion for 2019. •14.64% increase compared to 2018 value of $3.744 Billion On average the Town sees a 2-3% reduction from preliminary values to certified values provided by July 25th due to ARB reviews. Tax Year 2013 2014 2015 2016 2017 2018 Final Value ($Billions)$1.447 $1.753 $2.139 $2.546 $3.114 $3.744 Value Changes ($Millions)$194.1 $305.8 $385.7 $407.2 $567.8 $630.6 Percentage Change 15.49%21.13%22.00%19.04%22.30%20.25% 14 Average Single-Family Home Value History $344,458 $333,084 $324,387 $321,662 $351,317 $378,651 $423,062 $460,766 $495,762 $523,567 $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 15 2019 Preliminary Property Valuations •Preliminary Total Taxable (after freeze loss) Increased 14.64% Collin County Value $3,524,029,965 Denton County Value $ 747,106,298 Total Valuation $4,271,136,263 •Preliminary Existing Taxable Values Increased $125,547,276 or 3.39% •Preliminary New Construction Totaled $419,022,643 or 11.25% 16 Property Tax Reform –SB 2 KEY TAKEAWAYS New legislation limits Texas governments’ ability to raise maintenance and operations (M&O) property tax revenues above 3.5% without voter approval. Cities and Counties likely will explore various strategies to manage the new revenue restrictions This constraint, coupled with expanding infrastructure and service needs, could reduce financial flexibility and stress Texas municipalities’ creditworthiness according to the rating agencies. 17 FY 2012-13 thru FY 2018-2019 18 $0.000000 $0.100000 $0.200000 $0.300000 $0.400000 $0.500000 $0.600000 $0.700000 TY 2013 TY 2014 TY 2015 TY 2016 TY 2017 TY 2018 Town of Prosper Tax Rate History Rollback Rate (after sales tax adj) @ 8%Rollback Rate (after sales tax adj) @ 3.5%Adopted Tax Rate Linear (Rollback Rate (after sales tax adj) @ 3.5%) Tax Rate Analysis •This analysis over the past 6 years, Town of Prosper levied property taxes 4 out of 6 years higher than 8% rollback tax rate •Only once in the last 6 years, has the Town levied property taxes lower than 3.5% rollback rate (one year anomaly) 19 TAX YEAR TY 2013 TY 2014 TY 2015 TY 2016 TY 2017 TY 2018 Total Revenue Loss-Rollback Rate 3.5%1,019,058$ 1,821,037$ 264,626$ 903,871$ 874,476$ -$ 4,883,068$ SB 2 Strategies/Impacts •One-time capital expenditures to slow down due to limitations on futureyearfinancialflexibility •Evaluate current programs and long-term viability •More reliance on user fees •Evaluate the sustainability of operating and personnel costs of new facilitypriortoconstruction •RATING AGENCIES POTENTIAL IMPACTS: •Defer maintenance on capital infrastructure •Higher than normal transfers into general operating funds from water and sewerfunds,which could be supported by rate increases •Slow growth with moderately sized property tax base will rely more heavily onalternativeformsofrevenuelikesalestaxandservicescharges/fees,which can bemorevolatile 20 DEBT SERVICE FUND I&S RATE 21 Town’s Debt Capacity •Town’s Debt Policy: •Total principal of GO Bonds and all other outstanding tax indebtedness will be targeted not to exceed 6% of TAV tax rolls. •Town has maintained a level below the maximum debt capacity •Town’s target of 35% or less of the total tax rate -$0.52 per Town’s debt policy •Town’s I&S rate has been stabilized at 29.30% of tax rate or $0.1525 22 Bond Ratings Current Rating AA+ Aa1 AA+ Aa1 Aa1 Aa1 Moody's Aa3 June 2012 Moody's Aa3 October 2011 Standard & Poor's AA February 2014 Moody's Aa2 February 2014 Standard & Poor's AA June 2016 Moody's Aa2 June 2016 Rating Entity Prior Rating Prior Rating Period 23 Moody’s recently rating on the 2019 GO Bonds and COs outlook as stable at Aa1 S&P recent rating on the 2019 GO Bonds and COs at AA+ Aa1 and AA+ ratings are the second highest ratings of each agency Town’s very strong economy and rapidly expanding moderately sized tax base Significant ongoing development Conservative budgeting and formal policies 2020 Proposed Sales and Use Tax 24 Sales Tax Town levies a total of 2% sales tax on all taxable items sold within its borders. Prosper Economic Development Corporation-Type B levies 0.5%. May, 2018, voters approved to abolish the 0.50% sales tax revenue for property tax relief and replaced it with the creation of two Public Safety Special Purpose Districts. Reflected in the budget as Special Revenue Funds: Crime Control and Prevention District –0.25% sales and use tax Fire Control, Prevention, and Emergency Medical Services District –0.25% sales and use tax 25 Sales Tax 8.25% Collected in the Town State, 6.25% Local: Support General Fund, 1% Local: EDC Type B, 0.50% Local: Fire District, 0.25% Local: Crime District, 0.25% 26 GF 1% Sales Tax Historical Net of TIRZ & Projected Collections 27 Fiscal Year Sales Tax Collections % Change FY 2014-2015 $2,171,204 11.78% FY 2015-2016 $2,796,393 28.79% FY 2016-2017 $3,509,444 25.50% FY 2017-2018 $4,424,976 26.09% FY 2018-2019 Estimate $4,931,554 11.45% FY 2019-2020 Budget $5,178,132 5.00% Public Safety Historical and Current Funding 28 $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 FY 2016-2017 Actual FY 2017-2018 Actual FY 2018-2019 Budget General Fund SPDs *FY 2018-2019 General Fund funded one-time Public Safety capital infrastructure:Ladder Fire Truck and Police Station/Dispatch Facility in the amount of $4,281,293.This is not represented in the graph above. Building Permits Fee Rate Structure 29 Building Permit Rate Structure •Approved by Council 6/25/2019 due to HB 852 effective date 5/21/19 •Prohibits municipalities to develop permit fees around value of dwelling or cost of construction •Law prohibits disclosure of valuations as a condition of obtaining a permit •New residential building permit fee schedule based on square footage •Approved Permit Fee schedule is provided on the Town’s webpage 30 Building Permit Fee Revenue 31 $2,441,631 $2,855,876 $2,776,784 $4,116,287 $2,806,400 $3,215,472 300 400 500 600 700 800 900 1000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 2015 2016 2017 2018 Estimated 2019 Projected 2020 Building Permits Building Permit Revenue Permits Issued WATER AND WASTEWATER FUND 32 Water & Sewer Fund Revenue FY 2018-2019 Year End Estimated 33 Water Charges, $12,041,488 , 58% Sewer Charges, $6,539,283 , 32% Sanitation Charges, $1,279,576 , 6% Other, $577,521 , 3%Investment Income, $140,619 , 1% Water-Sewer Rate Plan Rate Model •Town adopted a multi-year water and sewer rates during 2018 budget process. •Every budget cycle,staff reviews the adopted rate to see if parameter of financial stability are met. •Must maintain minimum of 25%of annual operating expense •Must target minimum 1.25 debt coverage per debt management policy •The Water/Sewer Fund has out performed due to •Accelerated customer account growth •Prudent budgeting •Capital Plan Management 34 Proposed FY 2020 Rate Plan 35 •No adjustment to sewer rates in FY 2020 •No adjustment to residential water rates in FY 2020 •Only adjustment for FY 2020 will bring Commercial water base charges into alignment with the Residential water base charges Proposed FY 2020 Water-Sewer Rate Plan 36 1" meter Residential Rates Current Rates FY 2020 Adopted Rates FY 2020 Proposed Rates Proposed % Change Water, 10K gallons & 5K Sewer 116.95$ 130.65$ 116.95$ 0.00% 1" meter Commercial Rates Current Rates FY 2020 Adopted Rates FY 2020 Proposed Rates Proposed % Change Water, 20K gallons & 20K Sewer 271.10$ 307.10$ 276.05$ 1.83% Historical & Forecast Annual Water Accounts FY 2014 –FY 2023 37 FY 2020 Water Usage by Customer Class 38 Annual billable consumption estimate = Over 1.7 Billion Gallons Average Monthly Residential Bill Comparison 39 $81.21 $90.92 $91.21 $91.54 $104.20 $105.45 $108.19 $112.05 $116.95 $117.93 $128.18 $132.73 $132.96 $146.96 $149.99 $54.88 $49.40 $59.85 $57.94 $61.70 $63.42 $61.77 $65.50 $64.05 $75.13 $80.20 $88.74 $92.13 $104.00 $100.08 $26.33 $41.52 $31.36 $33.60 $42.50 $42.03 $46.42 $46.55 $52.90 $42.80 $47.98 $43.99 $40.83 $42.96 $49.91 Colleyville Frisco Coppell University Park McKinney Fairview Rockwall Sachse Prosper Keller Southlake Little Elm Murphy Princeton Rowlett Regional Bill Comparison (Residential) Water (10,000 gallons)Wastewater (5,000 gallons) Average Monthly Commercial Bill Comparison 40 Miscellaneous Fees •Plan Review Fees •Third Party Fees/ Geotechnical •Inflow and Infiltration Fees •Usage Fees –407 Recreation Center 41 Plan Review Fees •Fee to offset costs for electronic review software •Software Licensing $7,000. -$150 engineering plan review fee proposed would generate approx. $6,000 for 40 projects. (over 50 projects last year) -Additional savings on CIP engineering plan submittals. •Various Comparison Cities collect similar fee in some manner or method 42 Third Party Fees/ Geotechnical •Follow up item from Windsong Ranch Road Repairs •Provides more consistent and reliable testing •With exception of Colleyville*, no other Comparison City provides Material Testing services. •Melissa, Grand Prairie, Fort Worth* and Burleson* provide Material Testing services, and fund with either increased inspection fees* or transferring hard costs to Developer •Recommend transferring hard cost to Developer initially and re-evaluating as increase to inspection fees in the future 43 Inflow and Infiltration Fees 44 •Inflow -Storm water that enters into wastewater system at points of direct connection to the systems. Various sources contribute to the inflow including open wastewater pipes, unprotected manholes, and openings in wastewater lines. •Infiltration -Groundwater that enters wastewater system through cracks and/or leaks in wastewater pipes and manholes. Large Flow Events Amount in MGD / Cost to Treatment Rain Fall in Inches October 10, 2018 3.4 $ 6,900 2.7 October 14, 2018 6.4 $ 13,600 2.7 October 20,2018 10.9 $ 23,700 1.7 December 26, 2018 1.9 $ 3,500 3.5 April 23, 2019 1.3 $ 2,100 1.5 May 18, 2019 0.44 $ 200 2.7 June 1, 2019 0.347 $ 0 1.7 *Typical flow is 0.375 –0.400 MGD Actual Inflow Occurrences Actual Inflow Occurrences Items Reviewed •Prohibit contractors from connecting to exiting lines until final acceptance has been granted. •Not considered at this time. •Install in-line valves to prevent flow until acceptance. •Not considered due to future maintenance. •Fining contractors that cause inflow to existing wastewater lines. •Fining builders/developers that cause inflow to existing wastewater lines. •No other municipalities are currently fining for inflow violations. In the summer of 2016, inspections of 33,402 linear feet of wastewater mains and 75 manholes/cleanouts were completed within the area bound by Coleman Street, Preston Road, Gorgeous Road, and south of East First Street. Phase I Located Repairs Amount Structural Repairs $188,080 I&I Repairs $190,470 Total Repairs $378,550 Completed Repairs Amount Completed Repairs $6,920 Remaining Repairs (1-3 Years)$62,650 Future Repairs (5-10 Years)$308,980 In the summer of 2017, inspections of 32,998 linear feet of wastewater mains and 85 manholes/cleanouts were completed in the area bound by Coleman Street, E. Prosper Trail, Preston Road and Hickory Creek Drive. Located Repairs Amount Structural Repairs $52,725 I&I Repairs $160,475 Total Repairs $213,200 Completed Repairs Amount Completed Repairs $12,575 Remaining Repairs (1-3 Years)$116,500 Future Repairs (5-10 Years)$84,125 Phase II In the summer of 2018, inspections of 16,866 linear feet of wastewater mains and 58 manholes/cleanouts were completed in the area bound by Coleman Street, W. Prosper Trail, BNSF Railroad and W. First Street. Located Repairs Amount Structural Repairs $28,535 I&I Repairs $56,990 Total Repairs $85,525 Completed Repairs Amount Completed Repairs $25,585 Remaining Repairs (1-3 Years)$59,940 Future Repairs (5-10 Years)$0 Phase III Proposed Fee Schedule Description Fee Non-Plugged Wastewater Lines & Manholes to System First Offence Second Offence Third and Subsequent Offence $500 Connection/Day $750 Connection/Day $1,000 Connection/Day Wastewater Services Open/Broken First Offence Second and Subsequent Offence $100 Lot/Day $200 Lot/Day Service Inflow from Plumbing Installation First Offence Second Offence Third and Subsequent Offence $250 Lot/Day $400 Lot/Day $500 Lot/Day •Continue to repair the items that provide the highest return. •Arrange contracts to repair the existing deficiencies with outside contractors. (2019) •Continue to follow and update the CMOM Program, which includes three additional years of smoke testing. (Summer 2020) •Install bollards or pipes to protect manholes located in off-site areas and install gates for easier egress. (Summer 2020) •Complete the three wastewater meter stations, SCADA instrumentation, and related towers. •This will allow staff to see real time flows to UTRWD. (Summer 2019) •Staff is anticipating to bring an ordinance to Town Council for adoption at the July 23, 2019 meeting. Staff Involvement Usage Fees –407 Recreation Center 54 Town Hall Improvements Public Safety/Military Wall of Honor Office for the Mayor of the Town 3rd floor shell space, arch window area 3rd floor shell space, balcony area Renovate an existing conference room 55 56 57 58 59 60 61 62 63 CAPITAL IMPROVEMENT PROJECTS 64 Recently Completed & Under Design 65 Recently Completed Under Design $221,500,000 Completion in Next 5 Years 66 Recently Completed CIP Under Design $221,500,000 Completed Next 5 Years $464,998,881 Completion Beyond 5 Years 67 Recently Completed CIP Under Design $221,500,000 Completed Next 5 Years $464,998,881 Completion Beyond 5 Years $546,941,000* STREET Gates of Prosper, TIRZ 1 (Richland, Lovers Lane Detention)$ 3,125,025 Coleman Street (Gorgeous –Prosper Trail) –4 lanes –(Study Section)$ 250,000 FM 2478 (US 380 –FM 1461) –(ROW Payment)$ 69,000 Fishtrap (Segments 1,4) design; (Elem to DNT) Schematic –(Construction Segment 1)$ 1,190,000 Craig Street (Preston –Fifth)$ 1,250,000 Prosper Trail / DNT Intersection Improvements $ 1,600,000 Cook Lane (First –End) $ 2,100,000 Fishtrap (Teel –Gee Road) –(Design)$ 400,000 Gee Road (Fishtrap –Windsong Retail) –(Design)$ 250,000 Fishtrap (Elem –DNT) –2 then 4 lanes –(Design)$ 500,000 Coit Road (First to Frontier) –4 lanes –(ROW Acquisition)$ 800,000 Teel (US 380 Intersection Improvements) –(Design)$ 100,000 $11,634,025 68 TRAFFIC Traffic Signal –Fishtrap & Teel Parkway –(Construction)$ 300,000 Traffic Signal –Fishtrap & Gee Road –(Design and Construction)$ 350,000 Traffic Signal –SH 289 & Lovers Lane –(Design and Construction) $ 350,000 Traffic Signal –Coit Rd & Richland Boulevard –(Design) $ 50,000 Traffic Signal –Fishtrap & Windsong Parkway –(Design) $ 50,000 $1,100,000 69 PARK Lakewood Preserve $2,092,500 Hays Park $ 35,000 Pecan Grove Irrigation $ 85,000 Star Trail Park #2 $ 535,000 Pecan Grove Phase 2 $ 67,500 Windsong H&B Trail Phases 3C,5,6A,6B,7,8, and 9 $ 450,524 Pecan Grove H&B Trail $ 30,000 Star Trail H&B Trail Phases 1,2,3 and 4 $ 100,000 Whitley Place H&B Trail (Powerline Easement)$ 280,000 Frontier Park Storage $ 285,000 $3,960,524 70 FACILITY Westside Radio Tower for Public Safety $ 500,000 $ 500,000 71 WATER Custer Road Meter Station and Water Line Relocations $ 2,501,275 Cook Lane (First -End)$ 400,000 Broadway (Parvin –Craig)$ 150,000 $ 3,051,275 WASTEWATER $0.00 72 DRAINAGE Frontier Park / Preston Lakes Drainage Improvements –(Design)$ 100,000 $ 100,000 73 Future Council Discussion Items Field Utilization Police Staffing Plan Future Fire Station and Staffing Plan Downtown Open Space 74 Key Dates in Budget Process August 27 1st Public Hearing on Tax Rate and Budget September 5 2nd Public Hearing on Tax Rate and Budget September 10 Council Adopts the FY 2019-2020 Budget Council Sets the 2019 Tax Rate October 1 Fiscal Year 2019-2020 Begins 75 Thank you! Questions? 76 Agenda Item 8. Executive Session Recess into Closed Session in compliance with Section 551.001 et seq. Texas Government Code, as authorized by the Texas Open Meetings Act, to deliberate regarding: 8a. Section 551.087 –To discuss and consider economic development incentives. 8b. Section 551.072 –To discuss and consider purchase, exchange, lease or value of real property for municipal purposes and all matters incident and related thereto. 8c. Section 551.074 –To discuss and consider personnel matters and all matters incident and related thereto. Agenda Item 9. Reconvene in Regular Session and take any action necessary as a result of the Closed Session. Agenda Item 10. Possibly direct Town staff to schedule topic(s) for discussion at a future meeting. Agenda Item 11. Adjourn.