Master Plannning - Regular Meeting

I'm so sorry that we're starting late. We start these meetings at 09:30 just so everyone knows that couldn't make it on time. Thank you. This this meeting is called to order. Miss Huerta, would you please call the row?

Chairwoman Carolyn Bond. Here. Board member Steve Banta is absent. Roland Barrera is absent. Sylvia Campos?

Here.

Eric Cantu is absent. Jesse Gilbert? Absent. Ronald Graybun? Here. Paulette Wajardo? Present. Gil Hernandez is absent. David Lowe? Absent. Kaylin Paxson? Here. Mike Pusley? Here. Everett Roy? Mister Roy's running late. Connie Scott? Here. Mark Scott? Here. Okay. We do have a quorum present to conduct the meeting.

Thank you. Would anyone like to make public comment? Miss Myers.

Good morning TERS board. Nice to see everybody here today. I wanted to talk about something on your agenda, agenda item number three, because it's very important to our neighborhood and to me in particular, because I've worked on several different master plans or development plans for our neighborhood. And agenda item says that it's about the North Beach development plan update with TER's board input and direction. So that direction that their staff is asking for is important because North Beach has no other official body to represent us.

We don't have a downtown management district. We don't have an ISAC. We just have you guys. And if we don't have you, but we can if we don't go to you, we can go to straight to city staff. But as this agenda item shows, staff is asking for direction.

So why should we update the North Beach master plan or area development plan? We had one in 1991 when the Lexington came in 2011, and then seven years later 2018, and then now it's been eight years since the 2018 plan. In your little packet there, you have a rendition of what I then printed out really large. Did you guys get this to them? Okay.

Because the other one you have to be like, I don't know, magnifying glass or something to read. Because they're intended to print out this size. So that's why we printed it out for you guys and highlighted some of the things that have already been accomplished on that list, because the 2018 plan shows projects that are planned, but actually they've already been accomplished. So we need to show investors who are coming to North Beach or who are interested in North Beach all the new things that our council has done and our city staff has done, and it just does not reflect that. So we need to readjust the focus on what's going on on North Beach and update it so that you guys can give yourself a pat on the back, and also so that we can really decide what it is now, now that some things have already been accomplished, what it is now that we really need to do.

And how is it that we're going to do that? I would like to see a community wide effort going into this. I know that when we visited with Texas State Aquarium CEO Jesse, who's not here today, on April 16, that he said that they are interested in developing a new master plan for North Beach. And that's great. But I want to make sure that North Beach Community Association, which is an organized group that's been around since 1995, has input into this plan every step of the way.

That we have input, that we are allowed to be part of this. Because the 2018 plan started off with a developer, Jeff Blackard, coming to town, and a lot of that stuff happened without community knowledge. And so when you let a developer drive a master plan and you don't include the community, it doesn't work out as well. Thank you.

Thank you. Miss do you have any public comment? No. Okay. Thank you. We're gonna move to item and d. Oh, come on up. I'm sorry. Come on.

Oh, I

thought you meant written. Sorry.

I'm sorry. No problem. Good morning and thank you for allowing me to speak a few minutes. I'm Myra Holm, a North Beach resident and I know you all have heard me speak before here reminding you about safe bike and pedestrian connectivity that we so desperately need in our North Beach. I'm so excited with this Eco Parks new wooden boardwalks that are now complete and there's sidewalks that are gonna be wrapping around them.

I just see we are so close to really closing in on this loop that we need so our lighthouse and the harbour's residents can truly have a safe connection to the entire rest of North Beach. I know we're gonna be talking about this master plan you have and all we are needing is a tiny almost candy cane loop that you're gonna see up here on the Northwest Corner that would really connect us to everything else that's going on there on North Beach. Again, we

have that new boardwalk that came in with the Eco Park, There's that sidewalk that's gonna loop around it. Know, have the SUP now. There's going to be also what I understand within linear canal, you know, left and right some more walkways. All of this is going

to just develop a complete system so that we have a walkable and bikeable entire network on North Beach. So you know this project really could be impactful and would finally give all of our residents, you know, families with strollers, the senior citizens, the handicapped residents that we have, those children with the scooters and cyclists and visitors that are I see daily coming over that shared use path of the New Harbour Bridge. It's so exciting that it's coming together. So I just wanted to bring it up one more time, know, that we could make this, you know, complete system and we're just needing a little nudge, a little help. If any of you, you know, mayor, I know if you've heard me speak before and you know councilman Roy is not here but you know, if we could just nudge Mike Walsh over at TxDOT, this really would have to be a collaboration with them and a little tiny piece of the city to make a true major improvement over there.

And I think all of us would be able to enjoy of that. So I thank you again for your continued support and listening to me once again.

Thank you. Is there anyone k. We're gonna move to item d the minutes. Are there any corrections to the minutes? If there are none, I'll entertain a motion to approve.

Move. Approve.

Second?

Second.

All in favor say aye. Aye. Any opposed same. Motion passes. We're gonna go to the financial report.

Thank you, madam chair. Good morning, everyone. Sergey Aviosa, director of finance and procurement. Included in your agenda packet are the unaudited financial statements as of 03/31/2026. The financial statements include a balance sheet as well as an income statement for your review.

I have a brief presentation here coming up for just a recap of budgets and actuals and just a recap of the commitments for this TERs. Jumping right into the second slide on this presentation, this is just a quick reminder of the participants within the zone, which includes the city of Corpus Christi, Nueces County, and Del Mar College. The participation rates for each entity vary slightly. You have the city contributing 100% between 2019 and 2028. And then you have Nueces County contributing 100% between 2019 through 2038 fiscal years, and Del Mar College contributing 100% from 2019 through 2028.

For the city as well as the college from 2029 through 2038, contribution rates dropped to 75%. Just a quick reminder the zone aims to foster economic development by supporting infrastructure improvements, incentivize development and enhance public spaces. Next we have a recap of the contributions by each participant participation for the life of the zone. A total of 2,200,000 has been contributed from the city. The county has contributed $998,328 since inception and Del Mar College has contributed $989,012 since inception.

Altogether we've put in about 400,200,000 of investment to the terms number four. Next slide is our statement of revenues expenditures and changes in fund balance. Starting with our amended budget column going to the total revenues row. Total $1,020,679 were budgeted for the amended budget. Actuals year to date amount to $1,049,807 That puts total revenues over budget by about 29,000 Moving down to total expenditures, a total of $936,000 was budgeted for this particular zone.

Total of $383,000 has been expensed as of 03/31/2026. This leaves about $552,000 approximately to be spent. Jumping down to your ending fund balance, we anticipate the fiscal year '10 with a fund balance of 2.4 on a budget basis. As of March 31, the Terrorist 4 Zone has a total of $2,900,000 of fund balance. This next slide is a forecast of our funds available for commitments.

Starting with the first row, fiscal year 2026, we have our beginning fund balance as of March of $2,900,000 Then going over to your column, estimated annual revenue, we project out annual revenues with a 1% taxable value growth. The next two columns are over the next column over is our commitments and contract obligations for existing commitments. We project out those existing commitments moving forward. And then we have a projection on administration and other expenses. The way I pay attention to is this last column, as you can see the funds available for commitments.

And they continue to grow based on the current commitments. So starting at 2.4 this fiscal year, with the zone ending with about 10.9 in 2039. The next few slides are just a recap of the commitments made to the different programs in this zone, in Tiers four. So starting with the infrastructure improvements, a total of 229,000 has been committed. We don't anticipate any expenditures here in fiscal year twenty twenty six.

Next, we have the North Beach Living Initiative. A total of $140,000 has been committed to this program with no anticipated expenditures here in 2026. Next, we have the North Beach property improvements. A total approximately $1,200,000 has been committed to this program, and we do have some commitments that we anticipate to be expensed in fiscal year twenty twenty six of February Then we have administration and other expenditures. We with a total of $3,200,000 committed for the life of the TERS, with an average of about $226,000 for administrative costs for the year.

We do anticipate some onetime project spend of $196,000 as well as $110,000 to be transferred over for administrative costs. That concludes my presentations, and I'll stand by for any questions.

Does anyone have any questions?

Mister

Graven.

Okay. I think I know the answer to some of these, but I want it on the record, please. First of all, it looks like there's a big increase in administrative fees, so maybe you can help me understand why that would be. But more importantly, I want to talk about the project at Las Casitas Del Mar. The property value there has been reassessed lower, 20% lower since the project started.

And as I understand that he has until July of next year to complete the project. And, the neighbors are unhappy with the way the project has gone so far. And, so I wanna make sure that this budget does not include that project in it or when it comes for renewal, I believe in July, that we, as a board, look at that project again.

Okay. As far as projection of revenues, what we can do is look at that specific property and figure out what is the impact of your total revenue. Even if that's one property, you have a bunch of other properties within that zone that we need to determine, okay, if there's a decrease in that value, what is that overall impact? Because you may have some property values gaining in value that offset that deficit. So, a 1% is a conservative growth for budgeting purposes, but we can definitely look at that specific project to see what that impact is of that decrease. So, Hopefully that answers that question.

Okay. So July of next year, we would revisit that.

July this year, we'll have certified values, and we can look at approximate values for that specific property. As of the builder 2027.

And as I understand, yes, until July of next year to complete the project. Is that correct?

That that is my understanding. Yes. Okay. Yes, sir.

Hey. Does staff have any comment on that or anything? On his concerns?

Jennifer Buxton, planning and economic development. I don't have an answer on concerns on the project today, but we can look into it with the see what the complaints are with the neighbors.

Okay. Thank you. Are are you good, Ron?

No. The increase in the administrative fees.

So if we go to slide, I think it's slide nine. Yeah, here. So if we go down to the third row, administration, that is a cost to the transfer to general fund for administrative costs. And what you'll see is if you look at 'twenty seven through 2031, the cost for administration is flat. That's $221,000 annually. What you see is we have multiple years grouped up for 2032 through 2039. It's $1,700,000 but that's multiple years. It's still the 02/21. So right at this point, there is no increased cost to administration. Okay. Okay? Thank you, sir.

You good?

See, I'm easy.

Okay. Alright. Thank you. Commissioner Pusley.

Yeah. Thank you, madam chair. So I I have the same comment about La Cocita. You know, that's a great project, but again, it's an example of what I've been talking about for the tax reinvestment zones. We have to come up with some sort of cutoff deadline for some of these projects. I mean, we've had this encumbered on our books now for, you know, a couple of years at least. And at some point, we have to say, okay, they either have to move the project forward or we have to cut bait and and go somewhere else. But and then my other question is, what what's the anniversary date of the turret number four?

The anniversary date?

Is it is it 2038? Or

Jennifer Bucks in Planning and Economic Development. It was created in 2019.

I'm sorry?

2019 was the creation date.

Oh, okay. And it was was in year or twenty years?

What was it? I believe it was twenty years.

Okay. So what we have, it ends in tax year 2038, which is December 2038. And so you'll see fiscal year 2039 as the end of our table there.

Okay. Thank you. That's all I had.

No one else. Thank you very much. Let's move to the agenda items g, North Beach development plan overview with TER's board input and direction.

Jennifer Bucks in planning and economic development. There's been several questions brought up about the, existing plans over North Beach. So we wanted to bring a summary, talk about some or bring up some projects that have been completed, some that are still on the list, keeping in mind TER's purpose for public spaces, infrastructure, and growth and increase in density. So, there are some existing adopted plans in North Beach. There's the 2011 North Beach Area Development Plan, the 2018 Downtown Area Development Plan, which included North Beach at that time, and the 2018 North Beach revitalization initiative plan, and everybody should have a copy of that in front of them.

That's where the list of projects in the map we're going to talk about come from. Together, these documents provide a current policy and planning framework for the area. So current conditions, the Harbour Bridge demolition is underway after major delays. No major large scale redevelopment has occurred since the adoption of the plants. Physical land use patterns remain largely unchanged.

Infrastructure conditions are consistent with prior planning assumptions and opportunities exist to align implementation with available funding tools, including the TERs. The 2011 plan remains the foundational framework for North Beach development. The 2018 plans updated and reinforced key priorities, particularly post Harbor Bridge demolition, which was delayed. The removal of the Old Harbor Bridge is the most significant physical change since adoption, and overall, the core vision and land use structure remain consistent with adopted plans. Key concepts from the planning efforts included across all adopted plans, recurring themes were mobility and circulation improvements for roadway access and connectivity, pedestrian and bicycle infrastructure enhancements, open space and waterfront activation, strategic redevelopment opportunities tied to infrastructure changes, long term revitalization, and tourism potential.

Here's a list of the 33 projects that were identified in the revitalization initiative. Surfside Boulevard overlay is complete. Timmins Boulevard overlay is complete. Beach access improvements are in progress. Gulf Spray Avenue pedestrian bike improvements are in progress. Storm water management is in progress. Eco destination in progress. Dolphin Park improvements are complete and Surfside Park improvements are complete. That leaves several items on the list for consideration. However, consider this list to be fairly current due to the delay in the Harbor Bridge.

The the plan, even though it's dated 2018, is still about five years. There's about a five year delay with implementation in a lot of the plans. Moving forward, stakeholder engagement in setting priorities is gonna be incredibly important. And, of course, the TERZ is not going to be able to address every project, all projects, or or any project maybe. It but this is the list that we're starting with that we want to start evaluating, vetting, determining feasibilities, identifying other funding sources.

So the TURBS board direction next steps. What we're interested in is an initial, and I wanna say again, an initial ideas or statements on the list of projects, keeping in mind the TURS purpose for infrastructure, public spaces, economic development, and an increase in density. So which types of projects should be advanced for deeper evaluation? Are there specific concepts the board wants prioritized? And our additional project ideas, should should they be recommended for consideration?

So we're gonna incorporate some board feedback, refine and prioritize a project list, conduct feasibility and cost analysis, return with structured recommendations for TER's consideration. And I would like to have your feedback and your questions, please.

Mister Graham Graven, you're not you did you hit your button? There you go. I got him on there. I hit him.

Okay. Point number 15 to 16. You may be working on it, but I wanna put this on a record that, I I could argue the point that the values for the TRRs have been suppressed because of the access or lack of access during flooding to the harbors and to the lighthouse. And I know TxDOT is somewhat resistant to they are very resistant to making it a two way lane there. And I asked that legal department, please check into something called the attractive nuisance doctrine because that could come into play here, god forbid, that there's a situation the city might be vulnerable to to litigation on that, as well as Texthot.

So I ask that you look at that. And I also would encourage that we find out a way to make the accessibility for ADA from the harbors and the lighthouse a top priority.

Anyone else? Jennifer, there's a lot of stuff on this list.

Sure

is. So what's your thoughts when you're gonna be able to compile it and decide what you guys are gonna do?

We'll start with timeline. Okay. Considering what's happening with the right of way access, the right of way transfers, what's going to happen there, what the timeline is, what's going to be able to set the area up for initial development for business growth in a dash in addition to providing that connectivity that everybody is asking for, that everybody, including me, thinks that we need in order to achieve economic development growth and and density in the area. We we with the Harbour Bridge coming down, there's there's a lot of opportunity to provide a good foundation for increased development. And I think that's probably where we're going to start, but it's going to depend on timelines and resources.

Okay. And you're gonna make sure you get North Beach input. Correct? Yes, ma'am. Okay.

We

we would also ask that, this the staff meet with the NBCA board if that's possible. Mhmm.

Yes. Yes. It is. Mayor.

Yeah. Just to give an update on this, I feel like first of all, we have 25 projects, really. If you take out the red, we have 25 that are that are on there. And and I do think that it's gotta start somewhere. And that's what you you all are saying is, let's look at this list to see what where does it what what is a priority? But I guess one of my questions is is how many items can be a priority? Are you all looking for a list of five, ten, and then we work down? My other concern is I don't know that this particular board really knows a whole lot about all of these different projects. Right? More so than those who live there.

So to me, they they have to interconnect in different different projects here at different points. So that's that's the other concern. And then I just wanna let you all know that just to complicate things. What TxDOT has confirmed to us, the right of way that the right of way discussions in the committee, you know, that that we have established, that they've said it's it's premature right now. There is nothing that can be done until phase one is complete.

So they said, really, right now, all we can discuss is what know, the we already know what the process is, but it cannot move forward until phase one is complete. And then they start I think it was yeah. 100% completion. And so we're kind of waiting on that. So the the land itself, nothing can be done until, you know, the the phase one is completed.

And I thank you. I I think all of these things are they're all good projects. Mhmm. But I think there's a timeline and a flow to them as to the steps that happen in North Beach. And some of them are early projects, and some of them are later projects as as the bridge has come down and changes can happen. We're gonna look at that. We're gonna look at available resources and, again, timeline and and stakeholder input. But the the community has rightfully so brought back up these plans and said, but the bridge is coming down. Let's let's get going on it. And this is that initial conversation and that reintroduction to this list and the wants and the desires that were identified in the existing plans.

Okay. So so y'all are going to work on what makes sense based on timeline and resources.

With all the with all the stakeholders, which include the city of Corpus Christi, the TERS board, groups at North Beach with everybody. I mean, we're not going to just decide. It's Right. This this is a larger Okay.

I thought y'all were asking us to do that. Yeah. And I thought, well

We're we're we're asking for your input. Wait. We're On on these projects? On the existing plans. The existing plans were by the community were brought to the TURZ board and asked, let's evaluate these plans. So, in response, we are looking at these plans and saying, you're right, this is a good time to pick these plans back up now that the bridge is coming down. So, in response to that request for what's going on with the plan, we're here and we're saying, yep. It is time. It's time to look at these and start phasing them out and identifying priorities and resources. And the TERS board is the the TERS is a big part of that with available funding.

But, again, we have to keep in mind priorities, resources, timelines. But so we are bringing this forward. We are going to start working on this and what is TERS eligible, what is TERS feasible, and what is TERS appropriate. Okay. Mhmm.

I think a lot of this can be fleshed out if we have a meeting with the North Beach community. Yeah.

Yeah. Okay. Are you through? Commissioner Pusley.

Yes, ma'am. Thank you. I guess I'm a little confused, Jennifer. I mean, these are city CIP projects and not necessarily TERs projects. I I guess it's so you're asking for the TERs input on projects that are gonna be funded by the the city's capital improvement funding, wherever that comes from, whether it's bonds or sales tax or whatever. So I'm I'm not sure I understand what we're supposed to do here.

I don't think there are potential projects for the city site CIP. They are also with the TURS purpose being infrastructure, spaces as part of the purpose, there are items on here that could be TERS appropriate and feasible, at least for, say, a design portion and to get it ready for the CIP, whatever that might be. That's why we're here asking for feedback is the community has brought these plans to the TERS board and said we're ready to start looking at this as whether or not any of them has are TERS funding appropriate. And so we were presenting that to determine whether or not if if the TERS board finds that any of these might be TERS appropriate wants to pursue them, thinks they're TURS appropriate, worthwhile. And again, nothing on this list can be completed in totality with the TURS.

Because again, we've got to look at infrastructure, public spaces, economic development, and improving density.

Okay. Well, then I think staff is gonna need to work on what they think is terms appropriate and then bring it back to this board for us to determine whether we agree. But if you want our input, and I'm gonna give my input on one of the projects that the twenty twenty four city council put money into. And and, Peter, correct me if I'm wrong. Was it sales tax or the 2024 bond where we put money in for the breakwater, either the beginning of the engineering or studies.

I know we put money from one of those sources into looking at the breakwater. I've always said, and I I will continue to say, one of the major things that you can do to help North Beach is we're gonna have put a breakwater in there at some point. There have been some discussions about these islands. I don't know. I'm not a big fan of that because unless it's designed exactly very correctly, mother nature will take those away as fast as you put them out there. If you'd like to look at a history of how islands work with our longshore currents, go back and look at the history of Sunfish Island. It was built by the city several years ago and is no longer there. So you remember where we

put Yeah. So there's no bond program funding for a breakwater. However, when we discussed the sales tax for flood control, North Beach projects were identified as potential candidates. And so that's where the so it'd be the 1 eighth cent sales tax that voters approved for drainage and flood control.

Yeah. So I would think at the very least we could get engineering started to look at what it would take to do a breakwater and what the cost is gonna be. It's not gonna be cheap, obviously. Correct. Mhmm. But that you know, we're we how often does do we have to get sand brought in to replenish the beach?

Yeah. Well

Those kind of things. So

There's a project underway right now again for that. Yes, sir.

Okay. Thank you very much.

Thank you. Councilwoman Paxton.

Thank you, chair. So what it looks like on here, one of the questions that was brought up in public comment was creating that I love how they put it, the little candy cane loop for the bike trails. This looks like that's included in that plan. Would you would you agree with that?

Yes. With some refinement, but yes, as a cons as a core concept. Yes.

Okay. I just wanna make sure that we support it because I think that's a a wonderful addition to the idea. And in efforts in our focused efforts to include stakeholders, you you said that you'd be engaging with the North Beach Association. Could we do an actual stakeholders meeting, you know, where we bring the groups together, the board, this board, the North Beach board can kind of come together and look at it in a setting where everybody can can flush out these concepts, flush out these ideas Mhmm. Ask those types of types of questions, and be able to give feedback on how how we move forward in this next phase and prioritize

prioritize those those items. Items? I I I I want I want to to say say yes, yes, but but I'm I'm gonna gonna put a caveat on that that I think the the conversation is larger than just, say, the TERZ setting for for North Beach and how we move forward with with city resources and the the plans that the city has for for, for North Beach once, once the demolition issues are all taken care of. So I wanna say yes, but I'm gonna I'm gonna put an asterisk by that. Okay? Because that's gonna be more than just, the what I can speak to here in this meeting.

Absolutely. My thought was include at least these, but all the all the additional stakeholders because it it's it's a lot more helpful and I think efficient if all of us can sit and have those dialogues, and then we, you know, we're working together on the same team, which I'm not saying we're not now, but No. When we're looking at a plan of this magnitude, having all of those inputs are very, very valuable. So that would be, for me, the next next biggest step is being able to get the right stakeholders together.

Yes, ma'am. Like I said, what we're trying to do is bring these plans back to the forefront. It's been brought up in public comment both at city council and at the TERS board that what what can TURS do in North Beach, where do we start, and this is an excellent starting point point, and we want to move some projects forward. And this is just the initial conversation to make that happen.

Excellent. I'm excited that we are gonna give some very much needed and and warranted attention out there in this new time period where we can take some action on it. So thank you, Jennifer.

Thank you.

Jennifer, maybe you go back and you come back to us, some the ones that are feasible because this is a big list. This is And so you you know what to do.

Yes, ma'am.

Do you have a

Just wanna point out that there are permits that have been issued for the breakwater. CBBP has been in a process, so I want to make the board aware of that. So we're moving in the right direction on that. Also, I want to mention the Parks and Rec, they hit a home run because they got full funding for the nourishment project. So good for them.

Good job, parks and rec. Okay. Thank you. We Thank you, Jennifer. We're gonna run on go to presentation items. We've got a couple of them. There's no vote or anything. Turf four North Beach projects in progress. That's what that was. Jennifer, do y'all have who's got the presentation?

You.

Hi. Hi. Good morning. Joe Escobar with Planning and Economic Development, Economic Development Manager. Today, I'm here to present on tours for North Beach projects in progress, which was requested by the board to have these updates quarterly.

Starting with La Casitas Del Mar, the address is at 4606 Cove Freeze Boulevard. The project includes the construction of 14 new multifamily unit apartments with parking underneath. The project update is that developers in the is in the process of rebidding materials for the project, utility rough ins and connections have been secured for site. The developer is also working on the concrete driveways to be installed. The improved incentives approved for this project include the North Beach Living Initiative Program, which is for $140,000 in project specific development program for 229,883 thousand dollars The completion date for this project to be completed is 07/31/2027.

Going into our next TURS funded project, which is the North Beach History Plaza. The address is at 2892 North Shoreline Boulevard. The project includes entryway monument signage, shade structures, and lights for the project. The Parks and Recs department is has engaged Genac Architects engineering firm. The project is currently at 90% design.

The approved TERCE funding was for 200,000 and completion date is for a separate early fall in 2027. Going into our next project, which is the Doubletree by Hilton, the address is at 3200 Surfside Boulevard. Project includes converting a large meeting room space into six luxury suites, including one presidential suite, building a new concrete parking lot with at least 10 spaces at minimum, and replacing 45 existing balcony doors with upgraded hurricane rated sliding doors. Is the developer has completed all major interior construction. What's left for the project is the FFNE and to get everything furnished.

The approved incentive is for the North Beach property improvement program for $398,009.70, and the completion date for this project to be completed is 12/31/2026. And I stand by for any questions.

Any questions? No one. Thank you.

Great.

Okay. We have a presentation on the TURS number four budget.

Good morning, board. Amy Cowley, director of management and budget. The presentation before you is to review the f y twenty seven proposed budget. This is our first review of the budget. The second review will take place at our next meeting.

At that time, we'll ask for the board's approval. And just a reminder, we would request that approval prior to proposing the citywide budget on July 28. So this slide is a high level overview of our financial statement. And just walking through the columns from left to right, we have our f y twenty five final actuals. Those are audited actuals for the f y twenty five fiscal year.

We have our f y twenty six adopted budget, our f y twenty six amended budget, and our f y twenty six estimated actuals. That is our current fiscal year that we are in. Then we have our f y twenty seven proposed budget, which is what we'll be reviewing today. Our beginning fund balance for f y twenty seven is estimated to be 2,400,000, and you can see that that's carrying over from the estimated ending fund balance for the current fiscal year. This next slide is more detail on the revenues for the TERS four.

We have our estimated revenues for the city, for Del Mar, and for Nueces County. And our total proposed revenue budget currently would be right at 1,000,000 for f y twenty seven. Just keep in mind that the preliminary property values were provided to us on April 30, and the certified values will be available July 25. And so as protests occur and and changes come in, we'll be updating this revenue budget, and so there could be a slight change the next time we see this. This next slide is the detail of our proposed expenses.

So you can see that we have our management activities of about 5,000, North Beach Living Initiative at a 140,000, property improvement program at 425,000, and then our admin services, 232,000. And I know there was a question about that line previously. So the current placeholder there assumes a 5% increase. We are still pending finalization of the third party review for that admin service charge, and so that number may change as well the next time you see the budget. But currently, our total proposed budget for f y twenty seven is 802,000. And that is the final slide, so I'll stand by for any questions.

Any questions? Thank you very much, senior. Yes, ma'am. This is it. We're adjourned. Thank you all.