So and thank you all for joining us today.

I'd like to call the meeting of the capital presents board to order.

First item on the agenda on minutes from our October 10th meeting.

Move forward.

Zero seconds.

Sorry.

Okay, I'm gonna do new rule.

Um Marcy.

Yes.

Dave Corbett.

Hi.

Mick.

Hi.

Dave Rumport.

Hi.

Bob.

Hi.

Jamie.

Hi.

Bruce.

Hi.

And then Maggie.

Thank you.

Okay.

Next item on the agenda is the Gambridge Field House Management Reward.

Report.

Good morning, everybody.

I believe everybody received the report that was submitted.

We are just through the first quarter in September 30th, 2025.

We were slightly down if we look at year over year a few uh shows.

The mix of shows has a little bit to do with that as well, but I will say that uh the touring industry starting to pick up a little bit for us as we expected.

So uh we had a pretty active October with uh Eric Church, Adam Sandler, uh, FFA.

Um just had Jonas Brothers, so uh things are starting to pick up a little bit, and we've got a very very busy March coming up too with WWE, uh Big Ten, uh Journey, uh PBR, and a few others.

So things are starting to pick up for us.

We're excited.

Um, so if anybody has any questions on everything that's any questions, and Tim, I skipped over you, sorry.

Next first year monthly.

Good one.

Um September 2025.

Um finished with revenues net of expenses of about five and a half million dollars, which is about eight and a half million more than budget.

Um half of that positive variance is due to capital outlays that were um down.

Um, and the other half is due to tax revenues and labor reimbursements, which were um over budget.

Um digging in some of the details, tax revenues totaled 14 million dollars, which is uh about half a million dollars more than the average for the month or for the year, um, and about one and a half million dollars more than budget.

Um those tax revenues um across the board were all over budget for the year.

Um the tax revenues are they're doing pretty good at 12 percent or 13 million dollars over budget.

Umperating revenue was right under five million dollars for the month, um, and that's about one and a half million dollars or 45 percent over budget.

Largest um favorable variances there were labor reimbursements and the rental income line items.

Um in September we hosted do it best, juice plus and rally innovation, which drove those um operating revenues.

Um for the year to date, um doing well there as well.

Um, we're over budget by about 10 and a half million dollars or about 28 percent to do the revenue line items.

On the expense side, personal services, um, it's under budget by about 700,000 dollars or 28 percent.

Largest variance there is um part-time or temporary labor, and then also employee medical remote.

Uh uh one of the notes um items to note there is uh medical insurance line, kind of stop loss reimbursement payment that we received, about two and two hundred and fifty thousand dollars, and that was a cover of five month period, so um that's kind of causing that favorable variance there.

Um supplies or character two is about 45% or 270,000 dollars over budget.

Um big item there um was a 345,000 dollar expense that we had for insignia hotels, emergency responders communication enhancement system.

Yeah, without that payment, we would have been a well under budget.

Um other services category is right in line with budget, capital outlay, as I mentioned before, is um well under budget at a million dollars of a six point three million dollar budget.

Um biggest dollar amount that we spent uh for the month um was four hundred and sixteen thousand dollars on the convention center roof over Hall's A B and C.

Uh debt service as always was right at 1.4 million dollars uh in accordance with our amorization schedules.

Um so September was pretty identical to the prior month.

Um it's a normal month for us, very solid bottom line because of our low spend on capital outlay and then also solid tax revenues.

Open to any questions.

Thank you.

Next item on the agenda is the report.

Good morning.

Uh let's start with the hotel occupancy or hotel data report.

Uh September 2025 was overall pretty good.

Uh downtown set a new record for total revenue from the hotels and also for average daily rate, which is pretty impressive again, thinking about where we were in 2024.

Marion County as a whole was slightly down for September 25 versus September 24 year to date.

Downtown is still in an all-time record for revenue a year to date and uh pretty comparable on the revenue for available room.

Marion County is down 2.8% year over year.

Again last year was such an anomaly with all the big events.

So far we've had um pretty much everything except for Taylor Swift in terms of comparing year over year so the October November numbers when we do get to those reports will it'll be more drastic difference.

But I did go back and look just to compare it out of 2023 year to date 2025 compared to 2023 we're up 8.3% in hotel revenue for Marion County which tracks with basically what the CIB tax collection would be and downtown is up 14.3% so 2023 is more of a standard baseline year when you go up 16% year over year like you did in 2024 it always is going to make it a tough comparison the very next year but I'm really happy to see that we're over 8% for Marion County and 14% for downtown when you consider that and when even when you consider the additional supply we're up 10.8% in downtown red par and 5.7% in Marion County red par compared to 2023.

So you know again we're gonna have you'll see next year's numbers compared to 2025 look pretty good because we won't have Taylor Swifts and and um eclipses and USA swimmings and things of that nature and we'll end up getting things like Man's Final Four and some other big big additions next year.

In terms of the bookings we've been in the 70s all year and I've told you that I wasn't overly concerned about us hitting gold uh Darren and I just met yesterday is along with James actually and um we're up to 97% year to date of where we need to be for bookings and we looked at our pipeline for the rest of the year and uh barring an asteroid this asteroid that's coming behind the sun that we're not sure what it is hitting the earth we will be at 100% at the end of the year it's uh I've been I've been tracking I've been tracking David is thank you you know there's that one guy from Harvard that thinks it's uh of alien origin so I don't know maybe it's you know why not yeah well no actually this one is in particular is from outside of our solar system it's only the third object we've ever identified from or I mean from outside like our entire anyway.

Didn't know we did it as I 101 but I never know what I'm gonna say no the lead the lead numbers are very high a hundred we're 131% uh year to date on lease and the pipeline is extremely robust again we continue to see incredible interest from the Sydney in phase six uh we're getting really ramped up with those guys now they've got a fairly uh robust sales teams are starting to work with their uh their worldwide sales team at Hilton and so uh we're very uh optimistic about how that project is is booking out into the future I have a question yes so back to the um asteroid no right I'll take it um our numbers aren't great either for November it's really ugly um for the 2024 are we kind of considering the eclipse Taylor Swift and the swimming kind of once in a lifetime like we did the Super Bowl is that kind of we always have a couple of events a year right so this year we've had Royal Rumble and we've had uh WMBA L star game but last year we had um NBA all-star game we had USA swimming we had the Catholic Eucharistic congress which is not an annual right we had the eclipse and then we will end up getting Taylor Swift added on to that so it was a real anomaly on almost every metric we could measure.

Okay.

Yeah so and next year we'll we'll have something more comparable to this year with the final four maybe replacing it final four is typically gonna be bigger than MCA I mean um then uh uh and W an all-star game and and um we've got some other big uh one-off conventions actually with the ASAE will be a big convention sure uh things like that so yeah 24 is is kind of the anomaly of anomalies yeah we we view 12 as an anomaly but we're so far past that now I just didn't know kind of what the new yeah anomaly was that we're 24 will be the year we benchmarked off of for some time but I mean when you think about it again we beat downtown in particular beat uh September of last year in revenue uh it wasn't a specific yeah big event last year so that shows that that that's pretty healthy still and then the year to date numbers uh are still very strong for downtown in particular and that's where I really keep my eye on the ball because that's where we come if we can sell downtown 80 plus percent occupancy then you're gonna compress to the airport to the east side etc.

It's the it's that Sunday, Monday uh that's our big challenge.

So uh the only other thing I'll note, and I'm sure Monique will touch on this.

The group in the building right now, particularly for the new CIB board members uh is the um music for all bands of America.

If you've wondered, like if you were here in August and you ran into the drum corps international bands group, you're like not the same thing.

What's the difference?

The the big difference is these are basically high school kids, and those of the folks who come in August are um essentially collegiate or and or young adults who essentially have who like to do this beyond their high school days, and so this is more the the lower level, but they're they're really good nonetheless, and um the one of the summer is like they're also borderline second profession for some of these uh kids who do that one.

So, but it's really great.

The if you're not familiar, we we launched something many years ago under Matt Carter called Music Crossroads, and it's uh a strategy, much like the sports corpus a strategy and an entity music crossroads is just a strategy built within Visit Indy that pursues drum core and the perform uh the percussive art society, which is a and uh music for all and um a number of the American Pianists Association and the Violin Competition itself.

Uh you may not realize it.

I mentioned this for the for the new CIV board members that uh you know we've got actually a music strategy in addition to a sports dragon addition to a to make strategy.

Any questions for Wonder?

All right.

Uh next item on the agenda is convention center in the stadium.

So thank you.

Thank you.

Good morning, everyone.

All right, our October occupancy was a record-breaking 65.5%.

Our attendance was 93,000, 315.

Really, really busy month for us, highest October occupancy on record.

Um no dark days, we had 10 consecutive events, and then we ended the month with record-breaking attendance for FFA.

Um, if you recall, they broke their attendance record back in 2023, also.

That was at 72,954.

They did it again this year with 73,379.

Um, it's also um it's their highest attendance ever.

It's also our highest attendance ever for an annual, so just records all over the place.

Um, they were with us until October 31st.

Um, and then the beginning of November, we had a really good solid lineup of medium-sized events, and then right now, in the middle of the month, uh, as Leonard mentioned, we have Procussive Arts Society in the North Campus.

That's our wonderful annual convention for drummers.

Um, and then we have Music for All Bands of America in the South Campus.

Obviously, the main uh competitions are at the stadium, but we host the practice halls each year, so always happy to have them.

Both of those groups will be with us until Sunday.

Uh Monday morning, we're going to start moving in uh the National Catholic Youth Conference.

They've been a wonderful every other year convention for us for well over a decade.

Uh expecting again about 10,000 teens to be with us uh this year for that event.

They'll be with us from again Monday uh to Saturday.

Um and then that takes us to the final week, the week of Thanksgiving.

We have a really tiny meeting on Monday, and then we are dark until the 30th.

That's when um Big Ten Fan Fest starts moving in.

Um and then our December is gonna look a lot like a typical December for us.

We'll start off with Big Ten Fan Fest, followed by really, really big PRI, um, and then we'll have some tiny meetings leading up to uh the actual uh holidays itself.

So uh we're looking forward to ending the year um with a bang and then gearing up for 2026.

Is that kind of um I was here for FFA for the first time ever, which is terrifying.

Um but I just wanted to compliment your team.

I you can't get here from the west side, so I'm not sure if you've had to drive here from the west side, but it's terrible.

And so you have to go all the way south and then drive back back.

But there were um CIV teams directing traffic and the buses were great, and the staff was great, and like my son had to get from point A to point E, and he had no problems, and awesome.

Just excellent job for your there's a million and two kids and awesome um team effort, but thank you so much.

You know, when I and kind of kudos to CIV and all our partners, like a lot of times when you go to conferences out of town, there's that many people like there's scooters laying around and it's messy, and and it just wasn't.

Um you know, it was just really I was just really proud to see our downtown um look so great, and because you can imagine that that many teenage kids sometimes it doesn't look great.

Um but I was down here a couple different times, and it always looks really nice.

So thank you for the work that you guys do.

Yeah, a couple places on my agenda that I'll just throw it in now.

Um I think probably everyone in the room knows that FFA is booked now through 2040, which a round of applause to visit India to see I'm being staffed.

I mean, I think Darren always says if they look, they book.

So when they come here, visit Andy gets them here, but if they got here and things were disorganized at an FFA conference or the building didn't look sharp.

So it's a tribute to really everybody here on staff, top to bottom, both organizations that we've got FFA.

Because I think if communities and families are willing to send their kids to be one of 70 plus thousand to a city, they have to feel pretty good about the place.

So thank you all for all the good work, starting with Andy all on down.

Appreciate it anyway.

We'll take the thanks and appreciate the effort, but it really is.

It goes, we only can control really what's in the building, what happens when they are here.

And we're we're slowly getting more and more coordination with in DOT and sorry you couldn't make it in, but it's it's going around.

It's going around.

But um with IMPD and DPW and downtown Indy, who is um really fabulous at managing and coordinating and communicating so that everybody feels um welcome and that their trip is as smooth as possible.

Um it gets people here, it gets those kids having experienced the city thinking about Indianapolis and part of their developmental developing minds as they become young adults.

So it's a great it's a great opportunity.

I wanted to add kudos to Andy to the state.

A lot of people don't know that um IEDC and the Department of Ag have a very significant role in uh having helped us keep uh FFA as an annual because we used to split it with Louisville.

We do three years there and three years in Louisville, and um, because of the state partnership going back to government fence's uh time, uh, we've now secured them as an annual.

And this was a very unusual extension, madam uh care.

Uh they came to us.

Normally five years out, we pursue a customer that's an annual and say, hey, we need you to extend to a sixty year because that's kind of how we keep um uh the building protected for them.

These guys came to us and said we want to book 30 to 34 through 40, and we're like, okay.

Sure.

If we must.

Yes, here's the contract.

Yeah, no, that's pretty good.

It wasn't as simple as that, by the way.

We always there was months of responding to an RFP and putting together a deal for the state again, but uh it ultimately led to that extension.

And thanks again for mentioning the city and the state partnership.

That's very cool.

Okay.

All right, no questions more for me.

Thank you.

And next Lucas Well Stadium here.

Good morning.

We've had a great month since we last met.

We've had two Colts games.

Colts continue to perform well, which means the building's performing well as well.

So it's um everything's up, everybody's happy, we're gonna keep this going.

This is how it should be.

It's great.

Um, we've had a number of private events.

We had our uh playbook youth football back in the building.

Uh we have Lucas Oil in particular who do the private event.

Um, we had BOA regionals, so right now we have the Grand Nationals, which is the national championship, but leading into that.

There are several regional competitions of which we are also a host.

So uh about two or three weeks ago we had uh the regionals in the building.

FFA completely overtook uh Lucas Loyal Stadium.

It was um two general sessions a day of almost 40,000 people each one.

Um a whole lot of production looks really good, and I think they were very happy with the result.

Um they they told our team it was their it was their best uh experience in Lucaswell Stadium members.

So we like that.

Uh we also had Istma, so it's our other um uh marching band competition.

We heard about DCI back in August, November is the is the month, October, November is the month for more marching band.

We have the state high school uh championship in Lucaswell Stadium last week.

Uh as we head into the next month, very busy um and will be very productive.

We have the National Catholic Youth Conference, which is uh comes every couple years to the stadium.

We're excited to have them back this year.

It's a big deal.

Um we have the IHSAA football state championships at six games for all six classes that happen on the Friday and Saturday after Thanksgiving.

So that's a very um uh traditional uh spot in our schedule that we you know we'll see who the the matchups ultimately are that they do drive a lot of people into the stadium during a time that's otherwise pretty difficult to build the stadium.

And then we do have a Colts game before we meet again versus the Texans, we're trying to keep this going.

Um we have Big Ten, uh the Big Ten Championship game.

This is the only place it's ever been.

This is the 15th year.

Um their expectations continue to get higher.

We continue to uh perform to meet and exceed those expectations.

We're very excited about the potential matchup that we could see.

Me in particular.

And then to close out before the school meets again, we have the PRI show, which is a great city log that also takes over Lucas Will Stadium, and we're excited for that.

We've made uh concert announcements since we last met.

So we announced two nights of Morgan Wallin in May of 2026.

Those are those are um if they're not already sold out, they will be sold out.

Those are really big shows, two nights in a row.

We did have Morgan Wall in 2024, completely sold out, set the record for attendance in our building that was also that we later that year.

But we were expecting big things from that show.

So that uh will be the second and third concert nights of 2026 booked.

We have two others that hopefully we'll be able to announce soon.

We just gotta you know bring it to the finish line.

Each of those two with their separate.

I give a meeting 85, 90 percent 90% chance of closing, and then um just in the last week, there's another potential that we're working through some scheduling issues.

So, you know, it could be anywhere from uh right now we're at three, it could be as as many as six uh concert nights in 2026.

Uh hopefully um more than 23, and and at least uh at least a couple more that will be able to announce.

So that's what we have going on.

The team's in great spirits and performing really well.

Thanks for all the continued support we give us.

Any questions?

Eric, if you have any trouble getting rid of big 10 tickets, I'll get them off your hands.

All right.

All right, well, if you've got it once if you're gonna go to the game, please get a hotel room too.

Okay, well thank you very much.

Okay.

Next item on the agenda is update on current construction projects, baby.

Um so yeah, I'll talk about um two.

So we are uh just toured the Cygnia yesterday.

Um went up to the very top to the Sky Lounge, and it's framed and they got the steel going.

Um, the last little thing that we need to do up there is to finish the steel, which is basically this there's a modified pyramid up there, and then we can put the rest of the glass up.

Um, so we will do that.

The that should be done um mid-December.

Um, and then um the rest of the glass around the podium will be done by the end of the year or early January.

So that'll be great because then we don't have to worry about um we don't have to worry as much about weather.

Um we are working feverishly with AES.

Um if you know anybody over there, please tell them to help us.

Um we have to get um electrical power in, and there's it's high voltage stuff that only AES can do.

Um, and um there's only a handful of people at AES that can do it.

So they've been getting them out there, it's been a been a chore.

So we are trying to keep that on schedule.

Um, as long as we keep that roughly where we have it, uh we'll be fine, but we need the electricity full power in the building to push heat.

So if we're gonna get below zero for number or below freezing for a long time, we need to make sure that we have the that power.

So and it also means you can you can get everything in.

You can do the elevators, you can do the um uh vertical transportation to be finished out.

So that's that's a that's really the only pinch point.

I think that's the only pinch point I've ever mentioned in this meeting, but it is it is a it is a pinch point.

Um the other thing I wanted to let you know about um we're still on schedule, so that's not to worry, and and um right now we don't have a request from AES for more money, but um the other thing I wanted to mention was um the Pan Am Tower.

Um so just for the new members, the CIB um purchased.

Well, I guess it was the BFC that purchased it.

So we have there are two entities that you are now a member of the Capital Improvement Board, and then all the members of the Capital Improvement Board are also members of a non-PACA corporation.

Um that is called Building Facilities Corp.

And um it's it's something that's been around for decades.

Um sometimes we use it, sometimes we don't.

I don't uh maybe Bruce was involved in some building facilities corporation transactions.

Yes.

Really just to control the block and be able to charter on coist with that entire block.

And there's a lot of integration between those the two buildings, right?

The Cygnia and then that just based on foundations and power and all this other stuff.

And then now ultimately the new Georgia Street Promenade, which will be the which is the West Bach of Georgia Street, just north to both the property.

So we own that.

We have undertaken to operate that as a as a commercial tower, which is hard in this market.

Commercial towers, especially in central business districts throughout the country, are struggling.

We are doing well with the new investment of the Cygnia, the Georgia Street improvements.

We've executed three leases, one with a current full floor tenant who is shopping for, you know, trying to take advantage of lower rents throughout downtown.

And we were able to keep them.

We've been able with this close, like literally, we just signed a contract with Section 127, which is a wholly owned subsidiary of or sister company of Sports Graphics, who does all the graphic design.

So they will be coming back to Pan Am.

They were an original tenant of Pan Am.

So they are coming back.

And we're looking just to really recreate sort of what the Pan Am Tower was intended to be.

So the leasing of the property is gaining momentum, which is good to see because that's not being seen in other another commercial office towers.

We are also undertaking to do improvements.

You gotta do tenant improvements, but also improved bathrooms and lobbies and stuff like that.

All really culminating at the time this time next year, really, when the Cygnia opens.

Oh, okay.

I'll just add on Pan Am.

It was really very intentional for us to purchase that.

Um I felt very strongly, and Andy had to be convinced a little that we need to control that corner, control the block, and it really protects the investment of the CIB and the city and everyone in all the new constructions there because sometimes we just don't know.

And if you've got this little island here, it could have caused problems.

But the upside is people are excited about it, the people that are visiting are excited, and so it's and we're just getting great response from staff as far as working on refurbishing and doing all we're doing.

So it's it's a really great developer.

We got a good deal on it.

I just wouldn't mention yes, we're going to get it.

Okay.

Next item are contracts.

Umliz it got questions.

Okay.

And Andy's gonna describe those.

Do you want to just take one vote on the package?

Um yeah, yeah, unless there's anybody that wants to bring it out.

Um so um this is uh adjacent to obviously the Cygnia project.

Um the Cygnia and podium project has always included a um a sky bridge between the the new construction and the convention center.

Um as we looked at it and as costs with the um CMC contractor on uh the Cygnia project went up, and we looked at the design and the necessity of all the work that's gonna be necessary to build the Sky Bridge.

Um we decided to bring that project out of or most of that project out of the Cygnia, you know, sort of procurement strata and that that construction project and do our own.

That cost is sort of a less than half of the cost of the entire project.

Most of the cost actually will be the money will be spent inside the convention center.

Bringing the second floor lobby from where it is now basically ends at the end of J, Hall J.

And we'll be turning the corner south on Capitol Corridor from Hall from that end of the second floor.

And you can see it, it's probably we should probably walk it after this.

And we'll turn south down essentially the Capital Street Corridor there.

Um and go significant ways down there, um, all on the second floor.

So we're building a second floor to the convention center so that we can then connect to the sky bridge coming from the cygnia.

So that actually is a lot of construction that we didn't necessarily want the contractor from the signia in this building.

We wanted to be able to control it and um separately bid it, and we thought we'd do that and get as good or better pricing on a smaller project.

Um we're really in the moment now where any changes to the big project costs really big money.

You pay a premium for it because people want to get out of that and on to their next construction project.

So if you're gonna change anything in the insignia now, it's it's you're gonna pay a premium for it.

So taking it out, bidding it separately.

Um, that's what we've done.

That's what we have in front of you to prove um to approve today.

The way we are procuring this though is through is really a with a uh uh construction manager.

We're using Shield Sexton, um, who we use on a lot of different stuff, but it's a construction managed um but multi-prime contracts.

Um so and so we separately build a bid ourselves all these different trade packages.

The total cost is uh five million five hundred four thousand nine hundred and fifty-four dollars.

Um each of the eleven separate bid packages listed on the agenda were bids separately under 36112.

Um again, this is the sky bridge and the and the pathway um to connect to the second floor, um the existing second floor.

Um we have uh as far as minority women uh veteran and disability owned participation, um about no exactly three million seven hundred and fourteen thousand six sixty dollars.

Um minority business participation of the total is twenty-five percent, women is six point five percent, veteran is actually thirty-five percent.

So um I can go through and give details on each of them, happy to answer any questions, but I would suggest that we um approve uh bid packages one, two, three, four, five, six, seven, eight, ten, twelve, and thirteen.

And one motion.

And one motion, please.

Yes, that's what I just guess.

So I'll share and retain a motion to approve.

Maggie's got a question.

Yeah, I guess that's a beat.

Oh, okay.

I'll go back on mute, sorry.

No, thank you.

I appreciate the motion.

Okay, we'll left call the roll.

Sure, uh Marcy.

Dave Cye.

All right, David R.

All right, Bob.

Jamie?

Hi.

Bruce, Maggie.

Thank you.

Thank you.

Um, there are is a photograph.

Are these in everybody's packets or they on the phone?

Yeah, I tried to include it in the packets.

Thank you, Sam, for getting that as a late edition.

I didn't approve motion and second.

Maggie motioned.

Thank you.

So just to orient you, there are photos in there or renderings in your packet to get an idea of where this is.

So if I could note Andy, the this is such a better design than the original one that we had in rendering of ways back, the fact that it connected the existing second floor.

The accessibility is gonna be so much better for people.

It also saves us from having to build another escalator and an elevator and all that.

Great.

Is there a bid package nine that was withdrawn or will be coming later?

And if so, what is it?

That's a good question for Tom.

Yes.

Yes.

Okay.

Good to know.

Okay.

So nine and eleven are coming.

Um we we didn't receive any bids for the carpet project, so we're gonna rebid it.

Oh, yeah.

Usually we saw the end of the project.

We have a little bit of time.

So we're gonna rebid it and get it and we're talking contractors and get them.

It may be on the December board meeting one January.

Thank you.

Okay, next item on the agenda are vouchers.

We have two, and I'd like to just take them together with a single motion.

Sure.

Umperating expense voucher is 2,235,813.64 cents.

Um a little bit lower due to um lower debt service payment.

The confirming voucher is 14,705,526.40 cents.

Um of the um additional bumps in these, and I can explain the difference in a second.

Um again, it has normal debt service payments.

Um we had to pay some uh utility and we are paying some artwork um for the hotel development, and we had two we had the DCI settlement, um Drumcore International Settlement, and so that's I can I'll explain those.

Um, what settlements are um and then normal utility payments.

Um so we do we do these vouchers, and I may have mentioned this last time.

We do these vouchers in two sets.

One is operating, which is just a normal voucher.

We don't pay these bills until this voucher is approved by the board.

Um the confirming voucher are things that generally speaking, we need to pay on time in between board meetings, um because we don't want to incur late payments or they just become due.

Um a lot of we have we've moved and tried to move some recurring payments back into the confirming vouchers because it it saves our accounting staff a lot of time and effort if they're not scrambling to get payments out after this board meeting in the next you know four days, so it's able to spread out some of the the work on that.

Um the statute says that that the board approves all expenditures of the CID, so that's why you have two different vouchers, and that's the voucher process is a process by which we achieve our statutory mandate.

Um settlements.

Settlements are well essentially when um when we have ticketed events mostly um in the stadium.

Um you could have ticket events here.

Um tickets will be sold, we will hold the proceeds of the of the ticket sales um sort of in trust and as in our book on our books until the show is over, and then out of those proceeds everybody gets paid the talent, the all the costs and and everything get paid out of whatever it's contractually supposed to be paid out of those ticket sales.

So when we settle, we keep the money that we've been holding that is our cut, but we pay out all the other expenses, right?

So that that's why it hits our books as a big expense, right?

And we try to do that in real time to be good cut good partners with the people that book the stadium because the quicker they get paid the happier they are.

So that's why we often are will usually have those as confirming um payments.

Any questions?

So uh so is there a motion?

So move.

Okay, uh Marcy.

Aye Cye, Nick, Abar, aye, uh Jamie, Bruce, Maggie, I thank you all.

Um next item would be just wanted to mention that you have a schedule of CID meetings for 2026, and unless there's any questions or comments.

This is our typical second Friday of the month, which August being one week or two later due to budget matters.

Oh, okay, okay.

Council reimnines me that February is our annual meeting when officers are elected.

So one not 10 minutes.

Correct.

Although everybody's free to bother always at 10.

Um other business to come before the board?

Okay.

Any public comments?

Right.

Or adjourned, thank you.

Thank you.

Thank you.