Morning.

Morning.

Morning.

Um, I guess we'll start with the approval of minutes for August 14th, 2025.

So we'll say.

All in favor?

Hi.

Any opposed?

Uh moving on to public comments.

We'll take a moment here if there's any uh anyone would like to say anything.

Okay.

Move on to presentation of financial progress report for September 2025, budget by finance, and September progress report by public works.

Uh good morning.

Uh my name is Josh McCach and I'm filling in for Mr.

Boylan who's at the beach this week.

Um, so I'm joining a little time off.

Uh if we can pull up the report.

So this is our ever changing, evolving uh financial progress report.

Um couple things different than last time.

We've kind of separated the balance sheet from the income statement and also put a section for debt service payments once we start, you know, rolling those in, you'll start seeing more and more uh there.

Um not much to really talk about the big big change from the last report to this one.

Uh CIP costs or your construction in progress went from twenty-six million to about thirty-six million.

So that's good to see that number continue to rise showing we're building an asset over there.

Um with the stadium.

So does anybody have any questions on this report?

We've still got more money.

Yes, sir.

Okay, good.

Uh and if we can we can roll to the next one.

I'm gonna hand out an updated version of this.

This is we had some redo the next one, yeah.

So I want y'all to ignore the one on the screen.

Can I pass these out one?

Uh we had some reporting issues pulling numbers from the wrong places and some incorrect formulas on the one here.

Uh the one that uh Miss Manila's handing out.

Um is up to date as of September.

So basically what this shows uh and we condense these down.

I know last time you had the stadium broken out into like four different pieces.

We didn't have those available this time, but so we've just kind of high level what we're at with the one hundred fifteen million dollar budget.

We've spent a little over forty-two million, and then you have another forty-three or so um tied up in purchase orders that are unspent.

So remaining balance sixty-six million.

Or wait, hang on.

Remaining balance of 28 million.

So with PO with you know with open POs and the actual costs, you've used about 75% of that total budget.

And then same thing down with the public infrastructure.

That's the West 26th Street stuff with the stormwater sewer.

I think Hotel Motel was the other funding source.

Given you prior to as well.

So 58% of those, about 4.2 million remaining, you'd use about 58% of your 10 million dollar budget in those costs.

Any questions about that?

So there uh at least in the references you've given us here, there's about 25% left in the funding that we have for the stadium, and uh somewhere around 42% for the total public infrastructure, and it says 74% is used uh at this point in time for the combined aspect, so another 24%.

Yes, sir, correct.

26%, excuse me.

26, yes, sir.

All right, that's it.

Any questions?

Is there any contact that could be provided on where we are in terms of uh the original is that are we on track?

Is that um I don't have the answer to that building?

Still can probably follow up on that, but I would I would think we're on track.

I don't I mean, just by looking at the numbers and what we're what's been spent out the door, what's been encumbered, and what's remaining.

So any further questions.

All right, thank you.

Good morning.

Thank you, Mr.

Chair, members of the board.

Uh Bill Payne, city engineer uh for Chattanooga, and uh be glad to give the uh let's see if this will advance.

Um yeah, so those are you're seeing uh pieces of some slides, so looks like he's gonna be able to reset for us there.

Um we appreciate the opportunity to be able to to be able to come today.

We know that uh there is a site tour that's uh scheduled for after this meeting uh today to be able to go out there and see it for yourself.

Um, but we will we have gone ahead and prepared our normal uh update that we have so that way it would be part of your part of your board meeting minutes and uh as well as uh for other members who may not be here at the meeting.

So uh things are continue to make good progress.

Um a few construction updates uh that we wanted to provide you, you'll be able to see see a lot of these things, and even even these photographs, which are generally from uh the end from the end of September.

Um, some of those things will look even different whenever you go out there today.

So even though there may just be a few days difference, it's uh amazing the amount of progress that's happening.

Uh you can see in the in the that building that is there, uh that's the powerhouse, and the right side of that building is actually the portion that has been extended out, and so the portion of that powerhouse was removed, and there's been um uh an extension that was that was built out there, and you can see that.

So that roof has been installed now over the top on the right side, and they're of course continuing to work on the remainder of the powerhouse.

Um there's also been a lot of the rough end work for all of the trades, all the mechanical, electrical, plumbing trades.

Um, this is one of the um one of the boilers, water heaters uh for the for the project that you can see in the photograph.

There's also the beginning of a lot of the finish level work uh at the team level of the third base building.

So that part of the that was the first building which got started, so they've and they've as they've been working on that, they've been able to go ahead and start finishes in those parts of the building.

Um a lot of the painting on steel structures and uh roof installation on all of the buildings, as well as the beginning of demolition for the team store, which is what you see in this portion that skin around the walls and on the roof of that portion right there is is where the team store itself is going to be located.

And uh you can you can see it.

This is the batter's eye club, uh, but all of the storefront glass in that building has all been installed, so that's that's closed in that that field side wall uh in that location, as well as you can see one of the light poles, but all of the all of the light poles uh have been installed on the site as well.

So making really good progress all the way around, and of course, there'll be much more to be able to see and talk about uh when we're on site today.

Um so for this is just a general overview uh from about mid-September, and again, uh quite a few things have happened and and changed in that.

Uh a lot of the concourse and the flat work uh areas that look bare in this photograph have actually uh had the flat work uh for the concourse that surrounds the stadium.

poles but all of the all of the light poles uh have been installed on the site as well so uh making really good progress all the way around and of course there'll be much more to be able to see and talk about uh when we're on site today um so for this is just a general overview uh from about mid-September and again uh quite a few things have happened and and changed in that uh a lot of the concourse and the flat work uh areas that look bare in this photograph have actually uh had the flat work uh for the concourse that surrounds the stadium a lot of that has been installed since this photograph was taken three weeks ago from uh budget tracking update and uh hopefully this will this will help uh in uh chairman patterns uh question uh you can see that that in the beginning we were we were tracking very close uh with our cash flow estimate for emj's uh cash flow for this project um more recently we're a little bit uh underneath that and part of the part of the reason for that is because there have been some allowances that were built into the guaranteed maximum price contract that have not been you utilized fully um at 100% which is actually good because it means that those things have come in uh slightly less expensive um than what was allowed for in the contract there were some things that weren't fully designed at the time that the that the guaranteed maximum price uh contract was was quoted and put together and approved by the board um so we are seeing a little bit of a little bit of lag there um I actually like seeing that because it gives us some additional flexibility there is some contingency that the that the board has authorized um but again this is we've said from the beginning this was a very tight budget we are continuing to track um in a very tight way towards where we are but we still feel very comfortable about about where things are overall um I won't say that there's not a lot of stress that happens as that as that happens uh on this job but at the same time that's that's that's part of what we're doing trying to trying to manage it to that point so you can see that that that tracking will continue and this um this is a combination of uh all of the bond cash flow um and so a little bit of the difference that you'll see on this uh slide for uh for example um is compared to emj's contract right there's there are some portions of emj's work uh which are all on the construction side whereas uh these bond costs include all all of the due diligence all of the soft cost professional services costs that were that were spent as up front as the bonds were being issued or prior prior to bond issuance this is a breakdown of the infrastructure uh spending so uh and also uh some tracking uh both site preparation and the team supplied equipment that's being provided for the stadium just to show how those uh how those dollars have either been spent or the expenses that have been had that have been approved uh in each one of those categories so the west and west 26 street infrastructure is broken into three categories uh for general funds stormwater uh and wastewater currently at this point uh where we are uh most of the stormwater has been spent because of that that new line that was installed underneath 24 the balance uh we will begin to see uh uh more payments going out for the wastewater side because that work has been ongoing uh since the since the last uh since this slide was prepared and we know we'll be seeing that and the the roadway construction is about to kick off and you can see that there's roughly um you know still some balance left in the site preparation as well as in the team side we know that those are those as we get to the end um will wind up being utilized fully so and uh be glad to answer any questions this is just another photograph uh from the end of September um taken from overlooking the powerhouse you can see that section of the roof and back out across the field um in that direction but be happy to answer any questions whether it's on any of the slides uh that we've put together um here and of course we'll more than happy to have you on the site coming up here shortly any further questions of course okay uh I think we're we're good Bill thank you thank you item five other business FY only form 8283 non-cash charitable contributions executed by the chair for pipe properties records is anyone speaking on this point or might be supposed to read that or no it it is a state report that is filed with the state of Tennessee regarding any non-caritable uh contributions and you have filed that in accordance with state law as you're required okay for the board cool uh if we don't have anything else I guess we'll adjourn last call

Cool.

Uh if we don't have anything else, I guess we'll adjourn.

Last call.