Um let's do this.

I want to call the meeting to order.

Want to confirm that the meeting has been publicized and that we do have a quorum.

And we I think we're good on both of them.

What I want to do is let's go around the room, everybody introduce themselves because some of us know each other, some of us are new, and I think you'd be good to do that.

And while we do that, Maria, can you and I may have it?

Okay, I do have from the last meeting that who the officers are because we won't do it this time, but I'd like to see who we have so I can kind of give them a little bit of an orientation on who we are, what we do, what we're gonna do, because you got more new than old, correct?

Not really.

Ums Bryan and Mr.

Poles, he would they would hear at the last one.

Okay, all right.

Um but then aren't they new?

No, I'm not new.

Okay, okay.

I know it's been a while.

Yeah, but I recognize your face.

So he's the only new one we have.

Were you here last time too?

Okay.

I'm gonna wear my gray hair proudly.

Okay, so then so then all of you all know because you're new, but you've been on boards before.

Um so everybody else is good, right?

So uh let's see.

Um Bill Lockhart is no no longer here.

He was the Secretary Treasurer.

There, there he is.

Start cussing the dog, and there he walks in.

You want to pass that down to him.

Okay, all right.

Can I borrow that so I have no point who I know where?

And then um you're the vice chair, right?

Yes, sir.

Okay, all right.

Okay, so we're good with officers.

Okay, I want to make sure we're okay.

All right.

Um, what we're here today to do is you have been uh sent the minutes uh of the last meeting, and you can send a special document.

So what we want to do is approve the minutes of the meeting last August, and those are in your packet.

And so the chair would entertain a motion on those minutes for moved, approved.

Have a motion and we have a second, second, second.

Okay.

Discussion, questions on last times, minutes.

Seeing none, assume you're ready to vote.

All in favor of approving the minutes, please say aye.

Aye.

Oppose, like sign.

Okay.

Um we do have uh at least one person here.

Any comments from the public?

He's taking notes over there.

No, you good?

Okay, all right.

Okay.

He's going public.

I can see him over there.

Okay, uh, we are here to discuss the documents you were sent, which is the temporary access construction and use easement agreement.

Okay.

What I want to do is, and I think that Emily is talking to her yesterday, is coming.

So what I want to do is kind of walk you through this at a real high level, and I see your highlights, so I'm proud of you.

Um this has to do with what this board was set up to do.

Okay.

So if you look down, if you look down there on the background, in '94, River City acquired the old Kirkman School property.

Okay.

And the purpose was, as you see in paragraph B, to build a new downtown baseball stadium and and relocate the lookouts there.

It was set up to do that.

Okay.

Acquired the property, set up a lease with basically the baseball entity, and if you go down to paragraph F on page two, the property was transferred to the sports authority, and basically River City has a right, basically what I would call a right of first refusal to repurchase the property for for 200.

Okay.

That was because there was taxes involved, and so whether that's right, wrong or indifferent, that's how it is, and we can explain why it is that way.

Okay.

210.

Yeah, well, I told them if they don't want it, I give them 250, so you're still behind.

Okay.

So that property was transferred to us, and we basically then through Phil and the city attorney's office came up with a lease agreement that's about an inch and a half thick for them to uh build a baseball stadium on our dirt.

It's like an it's like an air rights piece.

Yeah, and it was actually Frank Burke that was the initial owner of the lookout.

So if we outside the and some of that got changed whenever they had the new lookouts team that created later.

That's right.

I believe there's been two change of ownerships, if I'm not mistaken, okay.

One of the things was that, and I'll just be honest about this, is that in the initial agreement, the lease contained a clause that said if and when Chatenga baseball uh terminated the lease or it expired, given that that was a dirt field, it was the old football field for Kirkman, right?

That they would return it to that same situation, that condition, which means literally had to tear it down.

Right.

Okay.

That got dropped uh in one of the last revisions, and no one caught it.

So stadium equipment, it says now.

Yeah, but but this but the but the but the stadium, but the current stadium um is by the lease, which I won't get to who how it got there or didn't get there, it is not in it today.

So when the current tenants finish moving out, and I'll tell you about that, um that structure is theirs, is there, okay?

So that's a component piece of this.

Now you have a new stadium.

If you look down there in six paragraph I look at have or will term their their lease around May 31st.

Uh I have a schedule as Phil has seen of them getting out, and they are still doing basically clean out right now.

They've auctioned some pieces off, so um, and so um River City uh and the sports authority, their desire in this document is to have access use and occupy the property after the exit date with the provision, the prior provision to repurchase the property.

Okay, and if you probably see it in the paper, they want to develop that into mixed use, yeah, hotel, residential, and uh come on in, you're in the right place.

Commercial time.

Hey, come on in.

So what this document does, it it speaks to that agreement, okay.

So if you go back to the title of it, it's for temporary access, construction, and use.

So what it does is it it, and if you see it in on page three under the agreement component, there's a conveyance and scope of easement, and it has a duration in there.

So remain in force and effect until River City's acquisition of the property by exercising its right to repurchase.

Then you see what they're gonna do.

So you see under that paragraph three, completion of stadium demolition.

Um that falls back to River City.

Okay, so they want to prepare it so that they can develop it.

Okay.

What they're asking us in generic, which is what the rest of it says, is for rights to control it, to access it, to let people come in, and to prepare it for a development.

Okay.

So if you start with section three right there, uh paragraph A, B says they'll be sole responsible for the stadium.

C is they have rights of ingress, egress, and maintenance.

In five, they can allow people who might want to develop it to come into it to have rights to do if they want to do soil testing, if they want to test it for structure.

Six tells them that they can have it for uh future expansion.

Uh if they want to put lighting on it for programming, they can do that.

Uh section eight says they have to have insurance because essentially the the baseball team, we lease them the property.

They had to build the stadium, they had to maintain it, they had to do the insurance, had to the maintenance and all that.

Okay.

So essentially, River City in many ways is doing that same thing.

It gives them a chance to decide what they're going to do with it and have people come in and look at it for future development.

Okay.

So they'll have insurance.

Indemnify the sports authority and the city.

Um there'll be no liens on it.

It talks about there's an 11 uh in the case of a breach, how it's remied, remedied.

Um you'll see down 13 that they need it as soon as possible, and so you get the representations and the warrants and the enforcement of the document.

So essentially, what they're requesting is uh control of access to and right to do whatever they need to do to see what future development will be on that.

Okay.

River City, and I'm going to introduce and wait a minute, she can talk better for herself than I can.

River River City is the organization that the city has charged with downtown plus some development.

Along the riverfront.

On the riverfront, too.

So it's their responsibility to come up with what they do with it.

Okay.

Uh, if you look at the buildings downtown, it's their responsibility to make sure that's done.

Okay, it's the basically the arm of the city.

Authorities are set up, and I'll give a reference to one you and I are familiar with, they set the hospital authority up.

Okay, it was to run the hospital.

The city doesn't want to do it.

Authority can do things a government can't do.

And so that pushes that authority and responsibility to a third party, which is an authority.

Okay, so that's essentially the the authority, the city has delegated that to this body.

And in the original original agreement, I'll come to you in a second, was that essentially River City has the right to pick it up.

Okay.

What they're doing is essentially they're not taking it on totally, they're basically asking for rights to use it in the interim until they can determine what they're essentially going to do with it.

And at some point in time, let's just say that that they have a developer or developers, and they're gonna put to say a million square foot of building up there.

They have the right to exercise this, and then they would have the response, the whole thing, and they would develop it because it benefits the city.

Okay.

So I'll answer your question, then I'm gonna introduce Emily and let her talk.

Okay.

The question I had was uh the dirt that you mentioned still belongs to the city or to the sports authority board or right right now.

It's it's it was owned by the city.

Okay, they they've asked us to essentially maintain it.

So at this point in time, you can change the words.

This this body has the authority for that dirt of the dirt.

Okay.

You you currently have a deed to the uh Chattanooga Sports Authority for that property here.

That deed is subject to language in it there that allows a first right of purchase, an option to purchase here to River City.

And the question is the timing of when they would do that.

Yeah.

So as of now then they would just be able to go in, develop and do whatever, but that is there's some timeline on that, or would it just be whether or not they want to buy it?

Uh well, that that's up for discussion.

There's there is not.

And we've talked about that, and so we can discuss the timeline.

That's one of the pieces on the table.

Good deal.

Thank you, sir.

Because right now, I'm so sorry.

Oh no, you're Google.

I just thought for all these years that it was kind of hammered into us that it had to go back to its original condition.

Yeah, every year we talked about this over and over and over.

I will tell you And I'm wondering how that got changed at some point.

Um you're looking at the guy who signed the original lease.

Right.

Okay.

Now it was like this thick, yeah.

And I did turn all the pages, but I'm not an attorney, and and I didn't memorize it.

But one of the pieces, and and Emily and I have sat in her office, and she has pulled out on a piece of paper the page with that statement on there, and I have the same thing in one of my folders.

And in one of the changes of ownership, that got changed, whether it was deliberate or not, is immaterial.

Um it got changed.

So today, right or wrong, that provision is not in there.

Oh, so how will the how will it be given back to the sports authority to get back to them?

That's what we're talking about.

Well, well, we it when baseball terminates their lease, just say that date I showed you on page two is May 31.

Their lease does not require them to take it down, so it comes back to us as it looks today.

Now they're cleaning their stuff out, uh, and I haven't been up there and looked around, but but the structure is will be there on June if if the if the termination date's May 31st, if you and I go up there and take a McDonald's sandwich on June the 1st, I assure you you can sit on the first base or stand in the building.

So consequently we would have some liability, correct.

You would have liability as a property owner, and and I'm not sure owner is the right word, but basically is so we we would have the responsibility for upkeep, maintenance, um insurance, security, yes.

Staff and everything.

And and to go back to what the purpose, if you go back to the the initial lease, we are not an organization, and and Bill and I have talked about this.

We were set up to lease it, not to maintain it.

We're not set up with revenue, there's no there's no uh uh uh grass cutting committee here, there's no insurance committee here.

So we we were set up to lease that, and for 20 years, we've come to this room once a year, elected officers, and two or three times had to approve a new lease, but we're not set up unless Nikki wants to go out and cut grass to do that.

Don't tell me what a good time.

So the authority is set up to be the body that hands it off.

Okay, so you well, I got one.

So when we're talking about the long-term lease of the stadium, it got extended kind of for their buyback for up to like 50 years.

Am I wrong or right about that?

Like 46, I believe it's 46.

Okay.

Um so we're saying at any time that they say they get revenue coming in, boom, boom, boom, and then they say we want to buy now.

I think that um I'm gonna say this, and I'm I'm gonna reserve the right to be wrong, so you can correct me, okay.

I think that the original purpose of the authority was to lease it for a baseball stadium, okay.

Okay, and and we were gonna meet once a year, required by this to make sure you had officers and make sure that lease was going on, okay.

Okay, given that they're going someplace else, then I think you have to keep in mind what the original purpose of the authority is.

In other words, let's say that that River City doesn't want the property, okay.

They're exercising their their not exercising their right in their original lease.

They're asking for a modification of the option.

Okay.

If Riversteady said to us, we don't want to exercise size that option, then the property reverts to us, and we'd have to decide what we're going to do.

Now we would do that in consultation with the city because this is not meant to be a real estate arm of the city.

Okay.

But our our purpose is to hand it off.

What they're actually what they're essentially doing is asking for a period of time to where they can determine what they think is in the best interest of that land for for the city.

And so the reason for the uh the component parts in paragraphs five, six, seven through thirteen is they're saying we're gonna we're gonna take on responsibility for insurance, for lighting, for upkeep, all those things for us, so that not joke that you don't have to go cut to grass, because that's not what we're set up to do.

We don't have a check-in account, you know.

Um that's the last thing we want to do is make sure the light bulbs are working so you don't have vacrants up there.

So they're saying they need time to plan it.

They have spent essentially a year and a half, two years of researching what types of developments they have, had a number of plans, they've gotten the input from developers, so they're basically in what I would call the planning stages for what they think would best fit up there to develop it.

Go back to what the charge for River Sea organization is.

For that piece that may be for when uh she presents again, what's measuring, what's measuring for the city what is needed in that area.

Because I we did the renderings last year while we were up there when we got rededicated, so and I still have that.

I know it was several things proposed, the grand staircase, uh, and all that.

So what measures from the city are being you know talked about so we know what is going to go up there.

Well, the the charge and want to why don't you come up and join us?

Um the the part of that is the charge to her organization broader than this one piece of property.

So um I'll say it, then she can interpret it.

Her organization has a charge to do that for multiple properties, multiple sites for the city.

So there's a collaboration between she or her her organization and the mayor's office or the city attorney or us in this situation, that's that's what the city has asked them to do is look at what it should be and and bring us some people.

So as she does those things, it used to be with the urban design studio, then or other firms, then that's in collaboration with the city.

So the we talk a lot so that I know what she's doing, he knows what she's doing, and the mayor's office knows, and the city council knows.

So it's in it's we all kind of work as an arm of the city if you want to use a different term.

Thank you.

You are a separate organization from the city, though.

Yeah.

That's why you need some protection for insurance on that.

Right.

As is she.

They're exploring how to do that, but they've been at that for a year and a half, but it's important that what they do benefit um not so much the sports authority but the city from a use need requirement and how that's provided, and something that can essentially put money back on the tax rolls.

Chairman Armour, if it's if it's helpful um for um members of the authority, I'm happy to also provide more information about what's happening at the stadium now and our coordination with the Chattanooga Lookouts, also as well as timing of demolition, in addition of where we are specifically in the redevelopment process, um, because like all of you, um, we would like to see that site redeveloped and put back on the tax rules.

Um, and we did do the framework plan, and so we are actually in the early stages of redevelopment, and I'm happy to provide additional information on that.

I think it'd be good because she and I have talked or update you on where she is, because I think that you asked a question about timelines.

She and I had that discussion last evening, and I do think that the purpose of today's meeting was not to finalize this, but it was to bring it up to date from a knowledge standpoint and input so that we can work toward an agreement in the next 30 to 45 days for sure.

Okay.

So thank you so much, um, Chairman Armour, and uh my name is Emily Mack.

I'm the president and CEO of River City Company, and we were created in 1986, so 40 years ago this year, specifically to reinvest in revitalize and redevelop downtown Chattanooga.

Um the site that we're speaking of today, River City Company actually acquired the site and we back in 1994.

So we actually have sunk costs into this site.

Um we paid very close to fair market value for this site back in um 1994 that was part of the the the Kirkman campus um after it had been vacant for um three years at that time, and we were charged with redeveloping that site, and so back in the 90s we were working on that, and then as many of you all know, um things progressed with Mr.

Burke at that time who owned the baseball team, and one thing led to another, and in order to help incentivize the development of ATT Field, River City Company transferred that land for a very nominal fee to the newly created sports authority um to help develop ATT field.

Um, as Chairman Armour um provided an account, there are legal agreements, and there's a reversionary clause in there that should the baseball team ever cease operations or relocate, River City Company has the first right of refusal to repurchase that site.

And in conversations with Chairman and Armour and a letter that was provided to the sports authority um, I think it was in 2023.

I'll have to go dig it back out.

Um, this was when um it was determined that the lookouts would be relocating from that site to a new location.

We did indicate in writing that at some point in the future, when the time is right, we would like um to act on that first rate of refusal.

As many of you are keenly aware, economic development projects, especially of this magnitude and especially this nature, they take years and years and years to come to fruition.

So when it became evident that the Chattanooga Lookouts were going to leave ATT Field and relocate to their new site, what we now call Erlinger Park, we began working on a redevelopment framework plan for ATT field, and that is the same framework plan that we have shared with you, I think multiple times maybe in 2025, and that hasn't changed.

That all stays exactly the same.

Um, and that was that re that that framework plan is based off of community input, and um it's based off of market data, a downtown real estate market assessment and a deep dive into what is gonna be economically viable and matching that up with the aspirations of our Chattanooga community, as well as site analysis and urban design.

So it's how we came to the framework plan.

And that is that is still in place, and that is that is what we have today.

And so we have been working hand in hand with them on that relocation.

And that that partnership continues today.

What is happening at the stadium right now is there are things being moved out of the stadium, there's equipment being moved out, there's things that are being donated, they the lookouts had an auction, those things are being picked up, and so a lot of stuff is currently being moved out of the stadium.

And that's and that that is scheduled, that was anticipated, that was planned.

It's no surprise.

And so there are things that if they are if they're not suitable for donations and they were not auctioned off, they will be properly disposed of, recycled, etc.

Our goal is as Chairman Armour said, that due to old legal agreements and legal ambiguities, River City Company is taking on the demolition of ATT field.

No taxpayer dollars are being used.

We understand you know, certainly we want to be very respectful of old agreements, and we understand that the the sports authority doesn't have a budget, doesn't have the maybe the resources to take on certain activities.

And that is actually what this agreement is really about.

It's kind of this interim step in the redevelopment process.

It is just a part of the overall redevelopment process.

And so this does allow River City Company, should you choose to vote on this to enter onto the premises to allow demolition contractors to enter onto the premises, to allow the demolition to take place, to allow us to properly grade and reseed that site.

So it can be it will sit there as a as a green grassy knoll for a little while.

It allows us to mow the site, it allows us to pick up the trash on the site, it allows for safety and security, and it also allows for light programming.

We have to be really cognizant there's gonna be no utilities, but if we want to have a kite flying day or a community yoga class, it also allows for those types of things.

So that's that's kind of this interim step.

Where we are on the redevelopment is River City Company has issued a request for proposals for master developers for the redevelopment of that site.

Um that is in process, um, depending on how those proposals come back, we can choose to interview master developers and pursue pursue development.

That is in the early stages at this moment.

The reality is is that economic development takes a very long time, and so even if in best case scenario, even if there was a developer today, which there is not, um, but by the time a developer is selected and negotiations take place, and that could take six to twelve months, and then they go through design, which is another usually 12 months, and then they go through city permitting, um, and they're able to you know bid out and mobilize and actually start construction, it's still several years away.

So what we're asking for today is to be able to enter onto the site to be able to perform the demolition so that we don't have a big empty stadium sitting there, which could be a challenge from a public safety perspective.

Um so our goal is when the lookouts leave, essentially on May 31st, that that becomes a construction site and that that stadium promptly comes down, and this allows us to mow the site to maintain the site.

Um as Chairman Armour said, we are required to have insurance, we're indemnifying the sports authority.

We are incurring the cost for maintaining the site until we can find the best developer for Chattanooga.

And my personal opinion is we we deserve nothing less than excellence when it comes to redevelopment.

So that's that's what this is about.

Oh of course.

Yes, sir.

Very good.

You did a good job explaining that.

How much is it gonna cost you to tear that thing down?

Seems like you got it kind of got stuck with that.

Yeah, I feel that I mean that's that's a pretty big expense.

We do have demolition bids out there, and those bids are due very soon, so that will be what those costs are.

Um there is this is time sensitive, and so because when you put something out to bid, like demolition bids, those bids are only good for so many days.

So usually it's 60 days, and that's why this is important.

So those did and and also this is timing.

We are very cognizant we do not want to have um any sort of public safety or public nuisance challenges, and that's why the timing of this is so important.

So when the lookouts vacate the stadium, that we can promptly demolish the stadium.

So you you expect to have it down, say by the end of the year, maybe or um we anticipate the demolition, we don't have an exact time frame.

I don't have an exact cost, I don't have exact time frame.

Um, but we do anticipate that demolition will take roughly three to four months.

Okay.

Um it oh thank you, Emily, and thank you.

Well done on this.

Thank you for stepping up.

Thank River City.

I particularly like the fact that not only are you picking up all the expenses related to safety insurance, all the issues that we most likely had.

Uh also I particularly appreciate the fact that you are indemnifying this board from any anything on top of that.

So uh all things considered, I think that it's the beer well done.

And I can see where time would be the essence because you're probably looking at like you say, a two to four year, you know, uh purchase to you know out of the ground uh factor.

So the sooner you get better, I think the better the same the sooner you can get started, I think the better for everyone.

So anyway, so uh my goal is to get it back on the tax rules is right as soon as feasible.

Um, but at the same time, I think it's imperative and and we owe it to our community to find the best developer for the site.

I didn't have just a question, just just just out of curiosity, as much as anything.

Have you done a recent appro appraisal of the property itself?

What is the uh um I you know what, Richard?

I should know this, and I don't believe that we have.

Oh, excuse me.

Um, and I was even trying to think if there is any sort of recent broker's opinion of value, but no, we have we have not, to the best of my knowledge.

Well, again, thank you for your willingness to sound like you're gonna put it back exactly pretty much the way it was.

Yes, so it it will return as a as a green field site, right?

Um, and the the reality is it will most likely need to sit there for a little bit as a greenfield site, but the nice thing is um it's a lot easier to monitor when uh there's not a strong site.

Thank you.

Um as I've all said, we appreciate you for doing what you have done.

Um my question is of course with demolition, there's metal, there's things that can be transitioned into basically money.

So with that after the cleanup and everything, is have you all considered in taking whatever you get from scrapping all the metal and things like that to put it back into the city, or are you gonna put it back into revamping that area?

Like what would happen with the demolition and the scrapping of the metals and things?

Yeah, we will actually use that to help offset our cost of incurring the demolition.

Okay.

So and that is actually it actually does also state that in this agreement.

Yeah, uh, that's that part of that.

Um for the light program, and after we were turning it back to a green space, is that light programming, those type of things, and it can be more or less.

Is that revenue, is that revenue base, or is that something that will be open and available once it's announced to be used at that space until it's developed into something else?

Um that's a little bit TBD, but the the reality is one, there will be no programming in 2026.

Okay.

Um the stadium needs to come down, right?

And then that site will need to be graded and it will need to be reseeded, and we need to allow time for the grass to grow.

Um, and by this time we're probably already into fall.

Yeah.

We will assess the condition of the site again in spring of 2027.

If we need to reseed it again, um, we will we will do that and mow it and maintain it.

Um, we need to be extremely cognizant.

There's no utilities up there, there's no bathrooms, like you're extraordinarily limited on what you can do when any sort of duration.

And so when we say light programming in River City Company, we we do also do programming in downtown, and so we have a fabulous team that does that.

Um that would absolutely be controlled by us.

It's imperative.

Um, we do not only do we have insurance for this site, but we also have um event insurance and those types of things.

Um much of what we do is for the greater good of Chattanooga.

Okay, and so we have a lot of um just free events and activities.

Again, I think we all need to be very, very cognizant.

It is going to be extraordinarily limited what you can do up there.

And so if it's just a kite flying day, um and you can fly kites for a few hours or have yoga for 30 or 45 minutes.

That is what we mean by light programming.

There's there's no electricity, there's no bathrooms, there's no utilities, um, and so you're also extremely limited in what you can do.

I think you have to go back to what is the purpose of it right when you go back to the beginning dates here.

Right.

It was to be a revenue generator for the city.

Right.

Okay.

So yes, they can do light programming, but her goal and objective in charge is to get that to be a revenue generating piece of property.

A kite flying with a thousand people is not going to fray the insurance a whole lot.

So the um it's a nice piece of property, and we both and we've talked about this, there'll be people who want to do things with it.

Right.

But I think it's important that that is not the end goal of this.

And and I think there's gonna be people going, oh, I could do a XYZ up there.

Right.

Um, great, but but and they're probably gonna be told, probably not, and I'll just put it up front because the goal is to get it done.

And so we need the availability of developers and people doing whatever it takes to figure out how we're gonna get it done, and we can't be sidelined by people who who are good intentioned on raising money for certain things to use the property.

That's that's not what it's for.

And I I'm glad you asked the question because I think it's important for this board to know it's up to us to support um what the goal of this whole thing was, and it was to promote baseball, but that provided a revenue stream.

That's why they did it.

So you know, we can't get me, and I'm a huge volunteer.

I I've been on more boards than I have age, but you know, the purpose is you you gotta keep the the what the goal of the organization is.

My goal is to responsibly um turn this into a redevelopment site, and to ultimately get this into the hands of a master developer so that we aren't continuing to pay for this for years on end.

So I am very motivated in that way.

Um this is just one part of the redevelopment process and kind of this interim step.

And just the logistics question.

I'm assuming like whoever's gonna tear it down will fence it all the way around.

But when they're done, will River City that'll come down when they're done, will River City fence it all the way around until no, and so that's because that's also not super visually appealing.

Right, yeah.

Um you're 100% correct.

Um, we do anticipate that um prior to demolition commencing that the selected demolition contractor will properly secure that site.

They, of course, will also have to have be licensed bonded insured, have all of those um those requisites, and that is built into those demo bid notices.

Um the stadium will be disassembled and essentially come down.

Um that takes place on the site, and then after demolition is complete, uh the site is properly graded, it's reseeded, and that construction fencing that's what they would put up, that will come down.

Um we will monitor and maintain that site, and so um we have we we have other properties, so we have security that can monitor that.

We also have an incredible partnerships downtown, and so I have no doubt um if there is um one piece of litter on that site that some of our um partners or or friends will notify us.

So our goal is to maintain a very uh clean and safe site.

In addition, um, we will partner with the downtown Chattanooga Alliance.

So we are also going to pay the bid assessment fees for this site, um, and so that our friends at the DCA can also help keep eyes on this site as well.

And so the nice thing is once once the stadium is down, it's actually fairly easy to monitor.

There's nothing there to like really obstruct those views, um, and so it can be very easily monitored.

Can't be a campground.

None of us want that.

The only thing I can do is I'd put a postcript on that.

That in the event that it is deemed necessary to secure it a different way, they have the freedom and the responsibility to do it.

So I I agree with what she said, that may change based on what happens.

Yeah, we that's that just there is a lot of things.

Yeah, yes and no.

One, please be you know, we should all be really mindful.

You've got the Creative Discovery Museum and you've got hotels right there.

Um, they do an excellent job of keeping eyes on that property.

In addition, um, Steve Brooks and our friends at the DCA already keep excellent eyes on that property, and and Steve and his team um win there are people that um choose to stay on that property for long periods of time.

Steve and his team already do an amazing job of asking them to relocate.

In addition, um, we will put this on CPD's no trespassing list, which we already do with all River City Company properties.

Um we partner with CPD on a very regular basis, and so um, should there be any challenges, should there be any persons that are um utilizing that site that actually gives CPD the ability to ask those persons to move along?

We already do that, and we will put those same measures in place for this property.

And Steve again does a great job, and so we can monitor that site on an extremely regular basis, and by that I mean at a minimum once a day.

But that's also why we have incredible partners, and uh they do a really good job of already looking at that site, and it will actually be even easier once the state.

Ideally, when would you like for this body to uh vote on this?

I mean, ideally for you.

I I certainly defer to the chairman, but um I understand that there needs to be some sort of date that is set in here, and I am happy to come back.

Um, however, time truly is of the essence, and so if this body agrees to this, if there can be some sort of vote today, um knowing that we also do need to come back to to establish a date.

But the reality is that there are demo bids out there, the team is mostly out, and time truly is of the essence in order to be able to get the stadium down in a timely manner, otherwise it will sit there for months, and that is going to fall to this body.

So this item is on as a discussion item today, it's not on for a action item here for you to do.

It would have to be noticed in advance of the meeting for that to occur.

The concern is on my end of it here, at least this is referenced as a temporary access construction and use easement, but it doesn't have a term.

And so there needs to be some specific term at least referenced in the document here as to how long that would be for this this to occur on here.

And then there is no provision for termination.

So that's another another issue.

So those those types of things at least need to be discussed with this reason before.

Yeah, the reason I asked because I know that we would have to call a special meeting because this board doesn't meet on the regular basis.

And you may want to think about what information you want coming to you on a basis.

In other words, you may want an annual update on progress, um, which can vary as she goes through it.

But I do think there's there's uh from a communication standpoint.

I think there I think communication points would be imperative so that so that this board who has the ultimate authority of whatever it's supposed to do can ensure that gets done.

Well, I would think that the image talking points and the timeline and whatever records that we have to have.

I think that would you know that would certainly help us all when it does get five of it.

What is the quickest timeline that you could make this happen?

Seven days notice just seven days, yes, but you somebody has to change some of the working useful.

I think that I think between uh the board the the um city attorney's office river city, we can come up with what those three or four points can be and within a couple of weeks.

I don't see any reason in fairness from our standpoint.

We need it done by May 31st, which is the date in here is on my one request, and I can reach out to our insurance broker, but we have to have this executed in order to be able to get insurance on this site.

Right.

So that is something to be we need to be very mindful of and they have to have an executed agreement in order for us to be able to obtain insurance on the site.

Do we do it on May 6th or just need to make sure we get a core above if we can do it May 6th or the 13th, either when y'all meet on Wednesdays?

So this still has insurance up until May 33rd.

The lookout is recovered.

So what you're doing is you're transferring it from but I'm just saying is we have to do that.

You're covering right now under the chat and you're gonna look out.

Yeah, but it's still covered right now.

You're correct.

Right.

Okay.

So Wednesday the sixth or Wednesday the 13th, if you want.

I think the sixth is good.

Okay.

For me.

What's that?

Six, yeah.

13th is is um I'm I'm out of town.

I'm not sure I can do the sixth.

Um do a day different than Wednesday.

The seventh.

On behalf of Phil, I'm going to recommend not a Tuesday.

Yes, please.

Please not a Tuesday.

What um the past how's a Friday?

The eighth, the eighth.

Or the or you're looking at 15.

I can't do the 15th fourth season today.

Fourth, fourth, the Monday.

Unfortunately, we've already got an IDB meeting set up at that morning at 11 o'clock.

I do not know.

I don't think so.

Is the eighth work?

The eighth is fine.

I guess I can do the eighth.

Absolutely.

Phil's doctors give us a Rachel's right here, we can talk.

Okay.

All right.

She's sometimes malleable.

You're on your own skin on that one.

Okay.

So then I think then I don't think we need a motion to we we've done the discussions, we've set the date, and um time 11:30.

And one item that is currently in the document here as well.

You heard some discussion about this.

It says there's no rights in the public to be able to use this as a public park in that regard.

So that's a good reference on on the front end of it here.

So it has to be at least by invitation on the property.

And then that'll be protected by the insurance.

Yeah.

I think we could also have some very tasteful um signage, maybe on the site as well.

Um and we can um maybe Rachel and Phil can work together to help us develop some some language on that.

Okay, let's let's do one other piece.

Um let's get a little feel, and I don't want to take all your time, but um from a board perspective, um she laid out that realistically uh to do the the research, bring the people in, work on the design, you know, get permits you're looking at three years.

Do you want to what's your thoughts on, and Phil, you chime in?

What do you think is realistic um from a and you can do have it renewable after that, but I think we need to have some realistic.

I mean, you know, I've initially while talking to Harris thought about a one-year renewable options, but realistically they're not gonna do that.

And and the other thing is that this board has not been you look at the newness of it.

We we've had trouble having you know, people who will stay for a one-year meeting, and well, I went through the background so people would understand how it's been for 20 years.

Sure.

And I think that the the continuity is is helpful because if half of y'all are gone in three years, then you come in perceived with you know what what it is you're doing, and and really all you're doing is you're just basically responsibly leasing property while they do something, whether it has a baseball team or development.

So you know, it's a once you get this done, you're back to an annual meeting, and that you basically come in and spend 30 minutes, re-elect officers, and come back next year and do the same thing because there's once you sign the agreement, there's no should be no activity unless you have some sort of reporting requirement.

Right.

And and we are happy um at your annual meeting to come and to provide updates or anything else.

Um I will also say on River City Companies, um we have a board of directors, and Mayor Kelly and the chair of the city council actually have seats on our board, so they receive very regular updates on this.

In addition, I meet with the mayor once a month, so he also has um regular updates on this.

In addition to real River City Company has a real estate committee, it's a committee of the board.

Um, that is the entity that actually um put out the the the RFP for redevelopment.

That's the entity that reviews those proposals, will interview developers, and um ultimately help us select a developer, and the city of Chattanooga actually um there are our key people from the city who actually sit on our real estate committee.

So there the city staff is very um engaged and a part of that, and we appreciate that collaboration.

Three plus one or three plus two, three plus one.

Let's do three plus two, two plus two.

Do you good with three and two?

Yes, please.

And I I think again, and let's just hope that uh our the geopolitical climate and those macroeconomic conditions all all align with us because that whether we like it or not, that also impacts our work.

Okay, just from uh from uh information perspective, if what we're talking about is what if we do an initial term of three years, then have two one-year renewable options.

How about that?

I think within five years, you don't know if we can do it or not.

I should not be in my job if this goes beyond five years.

Okay, you also think it's a good idea that at a minimum um at our annual meetings we'll we'll put that in there with a with an annual update on activity.

Yeah, happy to do it, absolutely there will be certain benchmarks that they'll just be in the media, though like you'll most likely see things on the news and in the times repressed just because those are those are big benchmarks, right?

There's also a little city county issue floating around right now that we need to try to get through it too.

Only one, yeah.

So real quick before my time before I got here.

So really quick before my time before I got here, um you said that there were you all did like a walkthrough and talked about and you got some insight from some of the communities in the city.

What was some of that insight that you received about putting something there?

So we usually when we start on any projects like this, we kind of start big and then we drill down.

And so how we actually started um just seeking public opinion on what the community would like to see, we actually started with a general community survey, and so we put that out there, it doesn't matter where you live, um in Hamilton County or um that folks could complete that, and so um we had responses from Saudi and Red Bank to downtown to the South Side to Lookout Valley.

Um and I think if I recall correctly, within we left, I know we left it open for a month, but um even within like the first two weeks, we had over three thousand people provide their input, and then we kind of start drilling down from there.

Um, and often um this is where we engage um downtown businesses, downtown property owners, residents, community organizations, area attractions, event organizers, public safety, utilities, um, I'm no I'm forgetting people in groups and organizations, and just hosting a lot of meetings to understand and really get um more detailed insights and a variety of perspectives.

Um and so we did that throughout 2023.

Um in a lot of cases, we also will have hands-on public workshops or um just a variety of different events, it really depends on the specific projects that we're working on at that time, site visits, um there are often other entities that are engaged from an economic or redevelopment perspective to provide again additional perspectives and insights, so that our goal is to match um the community's needs and desires and aspirations for redevelopment with Chattanooga's market, what is actually going to be economically viable on that site.

So in this case, um the vision plan that was articulated for this site is to redevelop that site into a mixed use, mixed income new downtown neighborhood.

And so the the plan um articulates a lot of housing, um a variety of urban housing types and scales and price points.

Um also opportunities for food and beverage, because we um know based on food and beverage studies and economic market data that we are lacking and some some F and B in this area, as well as other neighborhood serving businesses to support um redevelopment.

Um the plan also calls for um some public green space as well as a public trail around the edge of development and to ensure that those best sites and those best views um are open for everyone to enjoy.

So whether you um choose to live there or you're just visiting and you want to grab a coffee and go walk your dog, that there are opportunities for each and every Chattanoogan to enjoy that site.

And plenty of parking.

Everybody always asks about that.

The framework plan does actually include over 1200 parking spaces integrated in that redevelopment.

Well, how many uh because I know you said food and beverage, um how many jobs and things do you see it probably bring in for the community?

It's all just TBD, and so that's actually part of the redevelopment process, and as we evaluate um and get proposals from master developers, they that that's what a that proposal is, right?

And so they share this is what we can do at this site, this is what we think redevelopment might look like and might happen.

Um, and so it's very it's just dependent on what those developers um envision for that site.

We we can tell them what we think um and what we what our vision is, um, but they also provide those proposals and they also are responsible for financing, putting in the capital stack together for those projects.

that that's what a that proposal is right and so they share this is what we can do at this site this is what we think redevelopment might look like and might happen um and so it's very it's just dependent on what those developers um envision for that site we we can tell them what we think um and what we what our vision is um but they also provide those proposals and they also are responsible for financing putting the capital stack together for those projects if you look at it from an income versus broaden your term of employment to income you can have you can provide say if you have a restaurant it provides a job okay it's income you build a a condo and then it provides property tax so if you think about the different taxing mechanisms that you have from paying your your the income you get or how you pay somebody to cut your yard or the fact that you go and work for somebody and you get income and then spend it so when when you look at something like this the the the the the revenue stream is can be I won't say convoluted but it but how the city derives income comes from different sources.

So it's not just jobs is one component part but uh you know the city gets property tax sales tax uh hotel motel tax etc so there's there's multiple ways that it provides so when you look at a mixed use then you get a benefit from a housing standpoint you get a benefit from recreation you get a benefit from commercial so all those things benefit and draw people and and the goal is to generate the income however you want to classify and the ancillary benefits of of that redevelopment and so that's actually redeveloping that site and having people waking up at that site every day is also incredibly important to downtown businesses.

Quality of life you know it's it's great when we have events um but those often only happen one time a year or you know once a month whatever that is in a healthy um ecosystem people waking up every day and patronizing those businesses so it's also kind of those ancillary benefits that are that are very important um to the health and the vibrancy of downtown did you find a new home for your billboard that was the other question I had um that is a great question Phil and um the the lookouts have offered to donate that they have they have told um I think people are trying to figure out well there's there's two factors one is actually how do you like disassemble it and relocate it the other is that it it is coming down regardless um it is also not a new billboard and so technology changes so fast that even though it is I think it's eight years old or something like that um it's absolutely borderline obsolete and so they have been very clear that if there is an entity that would like to come and take it and reuse it great um in some yeah that's exactly it in some cases it's almost more expensive to take it down and relocate it than it is and also dealing with outdated technology.

I only asked that question because I've been in five years of litigation with two of the billboard companies here so I think I mean part of that problem's gonna be solved because that's gonna come down the lookouts have been really live long enough yeah they've they've been really great um there's of course some things that have been auctioned but there's other things there's that are that are being donated and so Hamilton County schools um their athletic uh director came through and if there's things that have been identified um other people are are receiving donations the the reality is is that stadium has been very well used for 20 years and um there's there many of those items have been very well loved so I was hoping y'all had gotten an agreement as to equipment being a little broader than the ridges it's it is gonna come down regardless so um whether we you know we're trying to also be very uh environmentally conscious good any further questions suggestions we have a meeting date so roughly what we're gonna do as far as uh the document as far as the provision on uh not termination but uh this is the term of the term of the agreement anybody have we need to add some provision about termination we don't have anything yeah do that as well yeah yeah okay anything else you can think of that's May the 8th at 11 30 at least what I've got in my right that would be good put it in your calendars okay thank you so much uh chair would entertain a motion to adjourn motion to adjourn is there a second second all in favor of adjourning aye