City-County Council - Regular Meeting

To chairman Maggie Lewis.

Thank you all very much. Let's begin with the first, item, on our docket, and that is proposal number one twenty 3, which reappoints Greg West to the Metropolitan Development Commission. Mister West, available.

Yes. Hi. Thanks. Greg West, 2011 Timberhill Trail, Indianapolis, Indiana 46217.

Alright. Could you tell us why you would like to be reappointed? Well, I've

been doing it for a year. I just love it. We're working with John Dillon, our leader, and with Megan in the planning of the staff, you know, the the DMD and perfect attendance. As far as that goes, always show up, always try to ask questions to to figure it out. Sometimes what's really going on when it's not quite clear. And, yeah, just love to support the cause.

Alright. Very good. Are there any questions of mister West from members of the committee? Please, councilor Brown.

Thank you, mister president and mister chair. Thank you, mister West, for your willingness to serve. As you may have seen, a week ago, this council unanimously passed a special resolution asking the Metropolitan Development Commission to institute a temporary stay on new data center applications until such time as the SU 47 gets finalized and approved. If reappointed today, would you honor that request from the council and can you say anymore about your your feelings about that?

Yes, I think that's fine and good to do that. Clearly, I see that the staff struggles to cubbyhole the data centers. They just don't quite fit in any of the categories. They're special and in the two that I sat in front of, is that the way to say that? That it was just a struggle. It's a struggle for the community. It's a it's a tough decision. And so some guidelines coming forward and a pause to establish those guidelines would be most welcome.

Good. Thank you very much. Additional comments or questions from members of the committee? Alright. Seeing none, is there anyone in the audience, with an interest in proposal number one, three? Seeing none, I'll entertain a motion.

So moved. Second.

Alright. Motion's been properly moved and seconded. All those in favor, please signify by aye. Aye. Any opposition, please, with nay. Alright. Very good. Mister West.

Thank you. Thank you very much. Appreciate it.

Yes. Next item on our agenda is proposal number one two four, which approves an additional appropriation of $42,000 in the 2026 budget of the Marion County Recorder's Office, county recorder's perpetual perpetuation fund to be used for property, fraud, and veterans, honors, and advertisement. Is there anyone to speak to proposal number one two four? Well, that's that's just Andy. Madam president.

Mister chairman, I move that we postpone proposal number one twenty four to the next committee here, and I'm not exactly sure of that date.

Yes. Can you provide us a date? Alright. Very good.

So I I move that we postpone the proposal to the next meeting Monday, May June 8.

Very good. All those in favor signify by saying I. I. Any opposed? Nay? Alright. That motion carries and thank you very much, madam president. Next item on our agenda is proposal number one two five, which approves an additional appropriation of $250,000 in the 2026 budget of the Department of Metropolitan Development. The redevelopment and consolidated county general funds for the vacant to vibrant program.

Good evening. Thank you chairman and members of the committee. My name is Megan Vucic. I'm the director for the Indianapolis Department of Metropolitan Development. I'm here to go over proposal 125.

And joining me is also deputy director Jenny Foltz. So today's proposal is related to our Vacant to Vibrant program, and so I just wanted to provide some information on this program before I go over today's request. As a reminder, we rebranded our land bank last year to the Vacant to Vibrant branding, and we launched it in 2025 and we brought that back in house, our land bank program. And so that program launched in April 2025. And so since that time, we've approved 96 sales through that program.

We have received a 183 total applications. Of those 96 approved sales, 60 were for affordable housing, 32 were standard market rate sales, and four were homestead or side lot sales. So we've seen a lot of success from that program. And as a reminder, MDC, the Metropolitan Development Commission does approve all of those sales transactions. The average standard homestead price, standard and homestead price is around $22,000 so that's on average what those lots are selling for.

And then the average affordable housing sale price is around $5,000 And shown here is an image of one of the homes that was redeveloped through the Vacant to Vibrant program and that is a home that is in Council District 8. So the request before you all tonight is a request for $250,000 in Character 3. Some of that will be coming from the consolidated county general fund and some from the redevelopment general fund. We've identified a total of 11 structures on properties that are owned by the Department of Metropolitan Development that are ready for demolition. And so those addresses are listed here.

We also have a map identifying where those properties are located. But we'd really like to move forward with demolition to get those lots ready for resale. And so those are the addresses. And those are this funding is being afforded from closure of prior year obligations and would have no impact to the current year fund balances. We are happy to answer any questions that you all have.

Thank you very much, director Ucasich. Any questions from members of the committee? President Lewis.

Thank you. Thank you for your presentation. Just briefly if you can tell us like which townships or which districts those houses are located in.

I don't have that off the top of my head. We have the addresses here. I if you give us I can follow-up with you after this on which I can

give you. I can give that as well. Thank you.

Very good. Additional questions. Councilor Hart.

Thank you, mister chair. Yeah. My question is how many unique buyers are have been part of this program?

How many buyers?

Yeah, like unique ones that are that are coming in and you know, doing the renovations. We're just trying to get a feel for, you know, how many, is it the same group of people? Is it like one or two people? Is it a dozen? How many?

I don't know if we have the unique how many unique individuals have purchased these. We have 96 approved sales. I mean, some of those are through, let's say, Habitat for Humanity. We partner with them a lot, and so they would be someone who, you know, has has done multiple properties. We do have our administrator of real estate, Piers Kirby. I don't know, Piers, if you have any insight.

Applicants. There have been multiple applications from the same entity though. So it's a healthy mix. It's not one or two people who are applying. It is rural housing developers, for profits, neighbors who have a side lot application request. So it's I can get you the full list if you like.

You know, I just think there's an opportunity if it's not already existing to maybe partner with office of women and minority business owners and see if there's an opportunity to help maybe promote some of the the smaller firms that exist in the city for an opportunity on these houses. So that was really the basis of the the the thought.

Yeah, we'd be happy to do so. Absolutely. Very good. Thank you very much. Councilor Gibson.

Yeah. Thank you mister chairman. I want to applaud the city for this initiative to put more housing on the market. I think even primarily you bring in properties and putting them back in the property tax rolls as well, so bringing more money into to help help with city services. So I'm I'm grateful for that and I ask my colleagues to join me in supporting this resolution just today. Thank you.

Very good. Councilor Brown.

Thank you. Totally agree with everything councilor Gibson just said and took the words out of my mouth. I also wanted to say at least one of these demolitions, I think, is in my district, and it's the site that I'm thinking of desperately needs it, and so I think that'll really help the whole neighborhood turnaround. I also just wanted to say to councilor Hart's point, I appreciate I think I assume I have you to thank peers or or other DMD staff. The Vic and the Vibrant team has sent counselors Emails showing who the prospective buyers are to allow us to kind of raise red flags or or warnings if it turns out not to be a good community partner that has been working well with which I really appreciate and it's also helped introduce me to new small developers who are trying to get off the ground. So I really appreciate that spirit of collaboration as well and would also urge my colleagues to support this proposal. Very good.

Thank you, councilor.

Very good. Councilor Delaney.

Thank you, mister chair. I was hoping that director Vukasich that you could tell me how widespread a problem is of homes that need to be torn down. Like is there a backlog properties and if there is how long is that list?

Yes, can take that one if that's okay. I'm Jenny Foltz, Deputy Director for the Department of Metropolitan Development. The majority of the properties that we own in the Vacant to Vibrant program are vacant lots. We don't own a lot of homes. So we do not anticipate a big backlog. These are the properties that we currently own and this would take care of the demo needs of the properties that we currently own. Thank you. Absolutely.

Very good. Any additional questions? Alright. Is there anyone in the audience with an interest in proposal number one two five? Alright, seeing none. I'll entertain a motion.

So moved.

Second. Alright. Motion's improperly moved and seconded. All those in favor, please signify by saying I. I. Any opposed, nay? Alright, the ayes have it. Thank you very much. The next item on our agenda is proposal number one two six which approves the payment in lieu of taxes, a pilot as provided in IC 36 dash three dash two dash 12. For an affordable housing project being financed in part with low income housing tax credits known as Central at Old Southside consisting of two twenty seven affordable housing units for low income residents located at 1406 And 1419 South Capitol Avenue and 1472 South Illinois Street in District 18. Please.

Good evening. My name is Carl Fry. I'm with the Annex Group here to speak on this project. So it's just about a year ago, I think, when we were someone else from our organization was before your group and requesting the pilot and there was a commitment made as we were just getting started with the project development and now we're back. We've advanced that and are asking for that pilot to actually be approved.

Next slide. Just a little bit about the Annex Group. If you refresh your memory, we're a local developer here. We're active in multifamily housing and really focused on affordable projects primarily although also active in student housing and workforce housing space. The statistics here were updated from our website, so probably a little bigger numbers than where we were a year ago as we've been seeing a lot of development activity and growing our portfolio. Next slide. So in Indianapolis here, this location is on the South Side, but we have another project we're just on

the

front end considering on the West Side and up in the Northwest Side a property that we acquired. So this would not be our only project here locally. Next slide shows kind of an aerial of where this is in context west of the site. It's down towards the White River to the or south of Inner Belt there, I guess, 70. I'm not sure what you call it.

I'm from Cleveland. So just just South of Lucas Stadium and a little bit stone's throw from Kelly Park and off to the east on the other side of Meridian, the Sacred Heart Church. So just context to where this site is at. Summary of the project, it's a two twenty seven unit affordable housing project, 100% affordable and two four story buildings. So this is a 4% light tech project and with the support of the pilot helps put together the capital stack needed to make project viable.

We do have several amenities in the project, a community room, fitness room, computer facilities and on-site community pantry, on-site leasing and management offices and outdoors, there will be some community garden space. We have playground and a dog park all planned. This next slide is kind of a site plan here. The two buildings situated on a kind of unique shaped piece of property there, South Of Arizona Street, kind South End of Capital, and with also a second driveway access off of Illinois on the east side of that driveway. And we included floor plans of the buildings, the mix of one, two, and three bedroom units across both the 6050% AMI thresholds and parking on-site parking for of two twenty seven spaces, so one per unit there.

The next slide are some rendering. So on the lower left there is kind of from the west end of the site looking in towards the project Building A on the larger building on the left and Building B a little further off to the right. On the upper right there is interior looking between the buildings of kind of some of that playground space and open space that's created in that area between the buildings. And another view across the playground the building.

With

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the project reviewed by the city architect and I think they're satisfied now with the architecture. And so just to recap here, the request here is to approve the pilot, which is also the community benefits agreement component. The pilot payments will increase fifteen year term and does provide a significant tax savings to help make this project viable. Our commitments are to build out this project in support of the old South Side community housing needs. It will be 100% affordable project for thirty years.

We do have resident services plan and eviction prevention plans as part of our operations. Will hold the property where we develop, construct and own and operate. And then we have a slide here kind of outlining some of those community benefit programs that will be available. Read through those. We have the on-site food pantry.

We have some partnerships with different organizations at financial kind of counseling support, wellness, healthy lifestyle, exercise type programs. We do have the fitness center community garden and community computer center all on-site in support of those different initiatives. And and then we have a summer youth reading program and the last bullet there, youth aircraft programs and gardening with with the youth. That's this photo on the upper right from another site. We do try to engage residents and provide some of these services to them.

There will be annual compliance reporting just to make sure that residents are participating and engaged in these programs. So with that, I'm happy to answer any questions.

Thank you very much, mister Fry. Are there any questions of mister Fry from members of the committee? Councilor Brown.

Thank you, mister chair. Thanks mister Fry for the presentation. Product sounds great. I love 100, you know, affordable for thirty years. I'm just curious after, I mean, given that the pilot agreement itself only last fifteen years, what hold due to that commitment starting in the year '16?

There is with the with the tax credits those are also for Virginia but there is that long term term you know requirement to maintain that.

So, that's like an ICDA light tech commitment rather than, okay. Thank you.

Very good. Additional questions? Alright, seeing none. Is there anyone in the audience with an interest in proposal number 126? Alright, seeing no one, I'll entertain a motion.

So moved. So I second.

The project's proposal's been properly moved and seconded. All those in favor, please signify by saying aye. Aye. Any opposed, nay? Alright. The ayes have it.

Thank you very much, mister Fry.

Thank you.

The next item on our agenda is proposal number one two seven, which directs the city county council to accept for the record the 2026 submission for the 2025 calendar year of the tax increment finance TIF district financial report pursuant to IC 36 dash seven dash 15.1 dash 36.3. Is there someone here to speak on this proposal?

Mr. Chairman, I move that we postpone this proposal to the next scheduled Metropolitan Economic Development Committee meeting. Second.

Motion is improperly moved and seconded. All those in favor, please signify by saying aye. Aye. Any opposed, nay? Alright. The eyes have it. We shall postpone this until our next scheduled meeting. The next item on our agenda is proposal number one one six zero, which approves the payment in lieu of taxes, a pilot, as provided in IC 36 dash three dash two dash 12 for an affordable housing project being financed in part with low income housing tax credits, pursuant to section 42 of the internal revenue code of 1986. As amended, known as West Park, consisting of 40 affordable housing units for low income residents on a parcel located at 2302 West Morris Street in Indianapolis and that's in District 17. Please.

Okay. Thank you. Actually, you in control of the slides. Okay. Thanks. Good evening. I'm Nick Sarak with Englewood Development and behind me is Lisa Lafflin with West Indianapolis Development Corporation who will be the owner of this development. Just to give you a little background, we are a small family owned affordable housing developer. I'm a second generation affordable housing developer. We're based here in Indianapolis.

We also have a property management arm as well. We manage about 2,200 units in the state of Indiana, Illinois, and Arizona. West Indianapolis Development Corporation is a five zero one c three, obviously located on the West Side Of Indianapolis and focuses on affordable housing rental and homeownership opportunities. If you could flip to the next slide. So as you noted, this is a 40 unit affordable housing development.

We applied for loan capacity and tax credits last summer and received an award this November and we are targeting this September as this financial closing and the construction start of this project. Either the units will be set aside for households with a member who has an intellectual or developmental disability and IHCD has ordered us a project based rental assistance contract to support those units to make them affordable for people at very low income. I think it's important to point out that this particular neighborhood only has two previous tax credit developments and the most recent one was twenty five years ago. So basically it's been over a generation since there's been any new significant development here. So I think that kinda highlights the importance of this project.

It's also important to note that the city has invested over $12,000,000 in streetscape and infrastructure improvements along West Morris Street starting on Harding and then basically terminating right in front of this building. So it's been kind of primed for additional development, so this is kind of the anchor on the west side of this of the of the neighborhood. If you could go to the next. Here we go. So this is a small aerial.

I think it's and you'll see on the next slide with the site plan, but West Indianapolis Development Corporation is actually purchasing the entire parcel, not just the area in red. That's where our building will be located, but the area to the north will be the home of townhomes that West Indianapolis will develop as well as some homeownership opportunities through Habitat for Humanity. If you go to next slide, you can take a little bit of look there. Obviously, it's tilted on its side, so the south would be on the left hand side, but you can see we have sort of an l shaped building. And then you can see directly north, those will be townhomes.

And then on the right hand side, which is actually running east to west, those will be developed by Habitat for Humanity for single family home ownership. Alright. Here's a rendering of the development. We consulted with community extensively on the project design, and we presented multiple charrettes and looks for them. And this is what was produced of it, and I and I can tell you that was unanimously the favorite of all community members that were present. There's no vinyl on this building. This is what you're seeing there with gray is stacked stone. We have cement fiberboard and we also have masonry on the building as well. Alright. So the total project cost is just over 12,400,000.

The majority of this is from investor equity via the tax credits. We also received a $500,000 soft loan from IHCDA. There's a $2,200,000 permanent mortgage. We are putting some of the developer fee into this project as well. The only resource we're requesting from the city is the pilot. We did not ask for any home or any other sources for this project. And then as I mentioned before, we do have a project based rental assistance contract from IHCDA for the IDD households. And here's a little chart just showing the unit mix by area median income set aside as well as unit type. The project is predominantly one and two bedrooms. We have a few three bedrooms.

But I think it's important to point out that we half of the units are at 50% or below the area median income to serve bit deeper rent targeting than you would have in a typical development. So we have a list here of some of the typical amenities or management provided amenities that we have. There'll be free WiFi throughout. We have a monthly community newsletter, and we will also be working with West Indianapolis Development Corporation on that because they have a newsletter that kind of keeps all their residents as well of ours abreast of happenings in the neighborhood or opportunities to partner with service providers. The property will have a full time property management staff on-site.

We also have a twenty four hour a day emergency phone number that residents can call if there is an issue. So there's always someone available to deal with any issues that come up at the site. And then we also provide all residents with a move in packet that has a list of all the service organizations that we have in partnership with so they're aware of what those are at move in and they can also always come to the property manager to explore how they can connect with those. Okay, next one. This is an additional list of other services that we will pursue as part of our application for tax credits. We made the commitment to IHCDA that we would pick from kind of

a

menu of potential services. We have to provide at least eight of these and so we will engage with various service providers on that as we move through the development. I have a list of bullet points here of sort of the typical services that we would have that includes things like nutrition classes, resume building, tax preparation assistance, sometimes home health care, peer support groups, utility assistance, transportation assistance, things of that nature. If you can go to the next slide. I also provide some information here about the services that IDD households can expect.

We are partnering with Noble of Indiana as our supportive service provider and we have an MOU with them in place already. Obviously, this is a more intensive sort of service program. We expect them to be on-site regularly. Case managers will be there. Lot A of the services that they will need to provide to those households will be on an ongoing and perhaps daily basis.

All right. And on to the pilot requests. So this is an important financial tool for projects like ours. It helps fill some of the financing gaps by us being able to afford a larger mortgage. It's also a scoring consideration for HCDA when projects come before them.

They use a scoring system to decide who wins, who loses, and if you can demonstrate that you've leveraged significant local resources, that helps you a great deal. And so that was part of their consideration when they decided to approve this project. What we're requesting is a payment limit taxes that comes to $250 per unit per year. It will trend at 3% annually and continue for fifteen years. And at last, there's just a short timeline here.

Assuming we are approved in June, we plan to start construction in September. We'll start pre leasing these units in September 2027. We anticipate the building be done by the 2027 and based on demand, we believe it will be fully leased by April '28. So, with that, I'd happy be to take any questions you may have.

Thank you very much. Questions from counselors? Counselor Barth.

Thank you, mister president. I appreciate the partnership with Noble Center. I'm a big supporter of them. They do really high quality work. When it comes to individuals with IDD, however, they have the right to choose their own service providers. So have you made allowances for someone who moves in and they decided to change service providers are you going to be accommodating to some of A the

100%. We can't we can't have an exclusive agreement. They're just there as a primary. They'll serve also as a referral agency as well. As you know there's probably there's some criteria that you have to meet to be considered IDD and so we're required to work with Noble or other service providers to source those tenants.

And you're anticipating that these are all going to be waiver covered services for the housing or these some other sort of funding?

I think they often are covered by that.

Yes. And then have you looked at Marcy Village over at Lawrence as a model because they do similar work and they've been incredibly successful for like almost thirty years.

I am aware of them. Haven't spoken personally

about It sounds like you have a different model, but I think it would be worth your time checking with them because they really pioneered this kind of a model of a mixed use lending in opportunities for waiver covered services for people with IDD. They did it over at the Fort when the fort was being redeveloped and probably the model in the entire state. That would be worth your time.

You know just to build on that, we're required to undergo kind of best practices training through IACDA because we did have this award as IDD households. So we will be attending that in June. I've been through it once before. Have a project under construction in Northern Indiana that's also serving IDD folks. We have Cardinal Services up there. So it's something I've got some familiarity with, but we will be engaging further with IHCD and experts in this area as well.

Yeah Cardinal is also another high super high quality. Alright thanks a lot appreciate

it.

Very good. Additional questions. Sorry councilor Gibson.

Thank you Mr. President and thank you for your presentation today and always willing to support someone who's trying to bring more affordable housing into the city. My question for you this evening is regards to you have to have menu of community services. You mentioned that you have to pick a minimum eight. What happens if you don't land on those eight? What kind of what's in full reinforcement measures to make sure you land on these eight?

They could take my tax credits away which would present an enormous fiscal problem

for me.

So you'll be delivering then I'd imagine.

Yeah. I'm highly incentivized I guess I'd put it that way. I mean, as you saw maybe in the capital sack, 9,000,000 plus of the 13 is due to that. So, that goes away, I've got an issue.

Very good. Council Cahill.

Thank you, Mr. Chair. Yeah, I am also fascinated by this IDD focus, and I'm wondering if we I guess I'll preface by saying, we this is one of the most extraordinary shortage of housing types that we have here, and I think that's true kind of nationwide. Can you speak on how did that come to be? Did you approach them? Did they approach you? Happen and how do we get more of this?

So actually IHCD does have that as one of their official priorities for the 9% tax credit program. Just to backtrack a little bit, are actually two different affordable tax credit programs, the 9% and the 4%. The previous presentation was the 4% and that's non competitive. You don't you're not really in competition with anyone else. For the 9% program, there's a limited number of them available every year. And so they come up with a scoring system. They also have different buckets of credits. Some of them are geographic like large cities, so only if you're in Indianapolis or one of the other large cities can you go after that. But they do have a set aside for projects that serve IDD households, so they incentivize that. Unfortunately, they're only able to fund two to three of those a year.

Then they also in turn so the rental assistance that we get, the section a 11 rental assistance that will support that, they have a a grant from HUD that supports that and so they they have that secured enough in the future that I think they're gonna continue to fund two or three of every year for probably about the next ten years.

Right. I I guess my my question isn't that the tax credits exist. I'm asking how how did you decide? Did you look through the menu and go, well, that's attract that's attractive to me because that's what I need to do for the 9%, or was there some other broader conversation that said this is this is what I see?

Yeah. I mean, I so I have one under construction that we've pursued that already, and I just saw it as a need and an interesting project concept for me to become more familiar with and if it's something that I feel works well I will pursue more of them in the future.

I will be reaching out to you because I would love to discuss this even more.

Sure. Feel free.

Very good. Additional questions? Councilor Evans.

Thank you, mister chairman. I'm really excited about this project. I know that you guys have worked really hard. And on a separate conversation we should be as a committee talking about the difficulty for development in the city and how long this process is taking because I lived through their frustration somewhat through this. This goes back many years.

In part, the community, West Indianapolis, Lisa Laughlin, many residents, Councilor Jones worked to develop a infrastructure plan over there that I think was a $1,012,000,000 dollar investment in Westmore Street and this is a product of that and it's good to see an investment occurring off of the public investment and we're really excited about this and it's good to keep that affordability in that community. West Indianapolis, my my family goes many many years there and it just seems like it's a community that gets jumped over quite a bit. So, I'm excited to be a part of this. With that said, mister president, I would motion that we move proposal number one sixty to the full council with a due pass recommendation.

Second. Second.

Alright. Motion's improperly moved and seconded. I show I I think I might need to ask, however, if there's anyone in the audience who would like to speak to it. Is there anyone in the audience who would like to speak to proposal number 160? Alright. Seeing none, could we try that one more time, sir?

Lisa, you've worked so hard on this. Are sure you don't want say a few words? Nick

did such a great job. Sorry. Lisa Lapland, West Indianapolis Development Corporation. Nick did a great job of giving you the nitty gritty and the nuts and bolts of what we're doing. This project is so important for our community.

So, thank you so much today for hearing us and for considering the pilot for this project. When Nick said that there had not been another low income housing tax credit project in our neighborhood for twenty five years, Not only is that true but we have very very limited multi family in all of West Indianapolis. And by that South Of Washington, North Of Raymond, White River to Holt Road. The 39 unit of senior building that we built in 1998 is one of those. There's a 12 unit old school conversion and then there are two other buildings that have about 12 units each in them.

We don't have multifamily. So this is a huge win for the community and for our neighborhood. And we've been in front of the Neighborhood Association. The majority of our board lives in the neighborhood or works in the neighborhood. And there's a lot of excitement and buzz about the opportunity for something new coming along on the heels of the Morris Street redevelopment. So, thank you very much for your consideration today. We all appreciate it. Thank you.

Thank you, miss Laffin.

Yes. Councilor Hart.

Alright. So, I just wanna say I've met Lisa on a handful of occasions and one of the most recent ones I got invited to a like a West Indy meeting because I like some of the work I'd done on semi truck restrictions which is also an issue I learned out on the West Side. And I learned quickly about the folks on the West Side Of Indianapolis have no problem in speaking up if they don't wanna see something. And the fact that there's nobody here remonstrating this says a lot, speaks volumes but beyond that, Lisa herself represents a lot of good things to the community and and I'm happy to support it especially seeing her as part of the project. So, I just want to take the opportunity to say that and say thank you, Lisa.

Excellent. Alright. Any additional questions from councilors? Seeing none, entertain a motion. Second. All All those in favor, please signify by saying aye. Aye. Any opposed, nay. All That motion carries. It looks like we have hit the end of our agenda, I believe, for this evening. So if there is no further business, I'll entertain a motion to adjourn. So moved. Alright. Very good. We adjourned. Thank you.