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[00:00:03]

GOOD AFTERNOON EVERYONE.

THANK YOU FOR JOINING

[Call to Order]

US FOR THE AUSTIN TRANSIT PARTNERSHIP BOARD MEETING.

TODAY IS MARCH 27TH, AND I'LL CALL THE MEETING TO ORDER.

THE TIME IS 1:13 PM AND WE ARE MEETING HERE AT 2 0 3 COLORADO STREET IN AUSTIN, TEXAS.

AND, UM, THE MAYOR, UH, KIRK WATSON WILL NOT BE JOINING US TODAY.

SO WE HAVE TODAY'S CONFIGURATION SET UP A LITTLE BETTER SO WE CAN HAVE A DIALOGUE.

THIS IS GONNA BE A WORK SESSION.

SO THANK YOU TO THE STAFF THAT HAS PREPARED FOR TODAY'S, UM, DISCUSSION AND COMPREHENSIVE UPDATE ON AUSTIN LIBRARY.

SO, WELCOME EVERYONE, AND WELCOME TO ALL THE FOLKS THAT HAVE NOW JOINED US IN THE HALLWAY.

THAT IS OUR, UM, EXTENSION OF OUR BOARDROOM, I GUESS .

SO WE DON'T HAVE ANY SPEAKERS SIGNED UP TO ADDRESS THE BOARD TODAY.

[3.1 Approval of a resolution amending the ATP Fiscal Year 2024 Budget to appropriate $65 million to the Capital Fund.]

SO WE'RE GOING TO MOVE ON TO OUR ACTION ITEMS. SO THE FIRST ACTION ITEM ON THE AGENDAS RELATED TO OUR FEDERAL PROGRESS, SPECIFICALLY THE RECENTLY SUBMITTED REQUEST TO ENTER PROJECT DEVELOPMENT UNDER THE FDA CAPITAL INVESTMENT GRANT FOR THE NEW STARTS PROGRAM, OUR EXECUTIVE DIRECTOR, GREG CANAL, WOULD LIKE TO SAY A FEW WORDS.

SO BEFORE I CALL THIS MOTION, UM, ON THE ITEM, CERTAINLY THANK YOU CHAIR.

UM, WELCOME EVERYONE TO WORK SESSION.

IT'S NICE TO GATHER LIKE THIS.

WE'VE, I THINK WE'VE DONE THIS USUALLY SEVERAL TIMES A YEAR, AND I LOVE THE IDEA OF ROLLING UP OUR SLEEVES, UM, TALKING ABOUT SOME OF THE HARD WORK THAT WE'RE AT.

WE'RE WE'RE WORKING THROUGH, UM, AND REALLY HAVING A DIALOGUE, UH, WITH THE BOARD AND WITH THE COMMUNITY.

SO WE THANK YOU FOR GIVING US A LOT OF YOUR TIME TODAY.

UM, I WANNA FIRST START BY RECOGNIZING WE ARE COMING UP AT THE END OF MARCH, WHICH IS WOMEN HISTORY MONTH.

AND I REALLY WANNA JUST ACKNOWLEDGE, UM, UH, OUR, OUR LEADERS, OUR OUR WOMEN LEADERS, DOTTIE, VERONICA, THANK YOU FOR ALL YOUR SERVICE TO OUR COMMUNITY AND ALSO OUR STAFF.

I'M REALLY PROUD IF YOU HAD A CHANCE TO WALK THROUGH OUR, OUR LOBBY.

WE HAVE UP ON OUR SCREENS KIND OF HIGHLIGHTING ALL OF OUR, UH, UH, WOMEN LEADERSHIP THAT WE HAVE IN THIS ORGANIZATION.

OVER 45% OF OUR SENIOR LEADERSHIP TEAM IS, ARE, ARE WOMEN.

AND I THINK DAY IN, DAY OUT, YOU SEE, UM, UH, THE, THE VALUE AND THE IDEALS OF WHO A TP IS, UM, BY OUR LEADERSHIP.

SO I JUST WANNA REALLY CELEBRATE, UM, CELEBRATE THAT .

SO WITH THAT, AS YOU MENTIONED, UM, YOU KNOW, WE WE'RE GONNA TALK ABOUT THIS, UH, A KEY MILESTONE THAT WE HAD, YOU KNOW, IN LESS THAN A YEAR AFTER HAVING A FANTASTIC COMMUNITY PROCESS, UM, AND FULL SUPPORT TO MOVE, MOVE AHEAD ON AUSTIN LIGHT RAIL PHASE ONE, WE HAVE ENTERED A KEY MILESTONE WITH THE FEDERAL TRANSIT ADMINISTRATION, WHO HAS JUST BEEN SUCH A WONDERFUL PARTNER WITH US OVER THIS PAST YEAR OF ENTERING THE FIRST PART OF THE CAPITAL IMPROVEMENT GRANT PROCESS.

UM, CIG IS, IS GOING TO HOPEFULLY GET US TO 50% OF OUR, OF OUR FUNDING THAT WE'LL USE OUR LOCAL TAXPAYER MONEY TO, TO AS A MATCH.

UM, AND SO WE HAVE OFFICIALLY KICKED OFF THE EFFORT, UH, TO ENTER THE PROJECT DEVELOPMENT PART OF THAT CIG PROCESS, AGAIN, LESS THAN A YEAR AFTER, UM, MOVING US FORWARD.

SO PART OF THAT IS JUST SOME DEMONSTRATING TO FTA, OUR FINANCIAL CAPABILITIES AND RESOURCES, AND WE HAVE AN ACTION ITEM.

UH, THIS HAS BEEN PLANNED FINANCIALLY, BUT JUST MOVING THE MONEY INTO THE RIGHT BUCKET.

AND, AND BRIAN AND JAMIE CAN QUICKLY WALK US THROUGH THAT.

HEY, BOARD EXECUTIVE DIRECTOR CANEI.

UM, YEAH, THIS, SO THIS ACTION ITEM HERE IS, IS ULTIMATELY TAKING SIX $5 MILLION FROM OUR ENDING BALANCE IN THE PROPOSED OR THE APPROVED FY 24 BUDGET AND ALLOCATING IT TO THE CAPITAL FUND TO ULTIMATELY HAVE ALL OF THE MONEY COMMITTED OR APPROPRIATED THAT WOULD BE NEEDED TO GET THROUGH THE PROJECT DEVELOPMENT PHASE OF THE, UM, CAPITAL INVESTMENT GRANT PROGRAM.

SO, JEN, WOULD YOU LIKE TO TALK A LITTLE BIT ABOUT THE PROCESS WHEN, UH, THE GOING THROUGH FT A WITH WHERE WE ARE ON THAT, UH, PROCESS AND, AND SOME OF THE, WHAT THE NOTES ARE ABOUT, UH, HAVING TO DEMONSTRATE OUR, UH, THAT, WHAT THAT PROJECT DEVELOPMENT PHASE IS FROM F FDA'S PERSPECTIVE? UH, I'D BE HAPPY TO.

UH, SO AS GREG MENTIONED, WE DID REQUEST ENTRY INTO PROJECT DEVELOPMENT.

UM, AND SO, UM, ONE OF THE THINGS THEY'VE REQUESTED FROM US, UM, AS PART OF THAT IS TO SHOW, UM, THAT WE HAVE FUNDS APPROPRIATED FOR THE FULL TWO YEAR PERIOD, UM, DURING WHICH PROJECT DEVELOPMENT ACTIVITIES WERE TO OCCUR.

UH, SO THAT'S WHAT THIS IS ABOUT TO APP APPRO, UH, FORMALLY APPROPRIATE SOME OF THOSE FUNDS THAT ARE CURRENTLY IN THE RESERVE TO

[00:05:01]

DEMONSTRATE THAT WE EXPECT THAT THEY WOULD BE SPENT, UM, COMPLETING PROJECT DEVELOPMENT.

DO I HAVE ANY QUESTIONS FROM THE BOARD? YEAH, MR. COMMENT? YES.

BOARD MEMBER , I WANNA COMMAND THE STAFF FOR THE, UH, GREAT PLANNING AND IN ANTICIPATING THIS, UM, IT'S NOT LIKE WE'RE ADDING MONEY, WE ARE SIMPLY MOVING MONEY FROM TO THE OPERATING BUDGET, UH, TO TAKE CARE OF A, UH, A REQUIREMENT.

BUT, UH, I BASICALLY JUST QUIT PLANNING.

UM, WELCOME FOR MEMBER JULIA.

IT'S PERFECT.

SHOULD I GIVE YOU HELL, THE WAY YOU GAVE ME HELL LAST I SHOULD HAVE PLAYED.

YEAH, SURE.

I BET IT'S ACTUALLY PERFECT TIMING BECAUSE WE'RE ABOUT TO VOTE.

YEAH.

AND SO, YOU KNOW, THIS IS WONDERFUL.

I DO HAVE ONE QUESTION, FIRST STEP.

SO IN MOVING THIS MONEY FROM THE RESERVE, MY UNDERSTANDING IS THAT WE HAVE THAT MONEY'S INVESTED IN EARNING INTEREST IN THIS, IN THOSE INVESTMENTS.

SO WHEN WE MOVE IT TO THIS NEXT BUCKET, UM, UNTIL THAT MONEY IS SPENT, IT'S CONTINUED TO BE INVESTED.

THAT'S CORRECT.

YEAH.

SO WE'RE ONLY GONNA UTILIZE THE DOLLARS THAT WE'RE APPROPRIATING HERE, UM, WHEN WE NEED THEM.

SO IT'S NOT LIKE WE'RE UN INVESTING THE FUNDS JUST BECAUSE WE'RE APPROPRIATING THEM.

WE DO, THEY'LL STAY IN OUR OPERATING FUND THAT WE HAVE INVESTED, UM, UNTIL THEY'RE NEEDED FROM A CASH FLOW PERSPECTIVE.

SO, PERFECT.

OKAY.

THAT'S MY ONLY QUESTION.

THANK YOU, .

THANK YOU.

UM, BRIAN, I JUST WANNA MENTION JEN, I JUST WANNA MAKE SURE I TOTALLY UNDERSTAND THIS.

PARTLY I'M STILL TRYING TO GET MY HEAD AROUND, YOU KNOW, THE WAY WE ACCOUNT WITH APPROPRIATIONS AND THE CAPITAL BUDGET, AND JUST MAKE SURE YOU KNOW THAT I UNDERSTAND IT, THE BOARD AND THE COMMUNITY UNDERSTANDS IT.

SO WE, IN OUR ORIGINAL BUDGET, WE APPROPRIATED, SO WE HAVE A, A BALANCE OF MONEY THAT'S COMING TO US OVER THE COURSE OF TIME BECAUSE WE'VE BEEN COLLECTING, UM, YOU KNOW, THE PROPERTY TAX.

AND THAT STARTED OUT AT, UM, THE BEGINNING OF THIS YEAR, OF THE FISCAL YEAR WAS 148 MILLION.

AND THEN WE ANTICIPATED $187 MILLION OF NEW MONEY COMING IN TO BE ADDED TO THAT 148 MILLION.

THEN WHAT WE ENVISION, SO WE ALREADY HAD, WE HAD PREVIOUSLY APPROPRIATED INTO THE CAPITAL BUDGET FOR THE DELIVERY OF LIGHT RAIL 82 MILLION.

AND THIS YEAR WE VOTED, OR WHEN WE APPROVED OUR BUDGET, WE AGREED TO MOVE ANOTHER 33 MILLION OVER TO THAT, CREATING A TOTAL OF 115 MILLION IN OUR LIGHT RAIL, UM, CAPITAL BUDGET.

AND THEN AS PART OF OUR EXPENDITURES, WE PLAN TO SPEND THAT 115 MILLION THIS YEAR TO GO THROUGH ALL OF THE THINGS THAT, YOU KNOW, WE'VE BEEN DOING AND THAT WE'RE GONNA TALK ABOUT AND CONTINUE TO TALK ABOUT.

HOWEVER, THE PROJECT DEVELOPMENT PROCESS IS A TWO YEAR PERIOD, AND VERY UNDERSTANDABLY, THE FTA CAME BACK AND SAID, WE UNDERSTAND YOU HAVE THE REVENUE BETWEEN WHAT YOU ALREADY HAVE AND WHAT YOU ANTICIPATE RECEIVING THIS YEAR TO FULLY FUND PROJECT DEVELOPMENT.

HOWEVER, NEXT YEAR'S HASN'T BEEN APPROPRIATED OVER TO THE LIGHT RAIL, UM, CAPITAL BUDGET.

WE WOULD LIKE TO SEE THAT FORMAL MOVE TO FOR THE FULL AMOUNT, WHICH IS, UM, WE'RE ADDING 65, SO IT'S 1 15, 1 70, 180.

SO 180 IS THE FULL AMOUNT THAT WE WILL SPEND TO GET US THROUGH PROJECT DEVELOPMENT, WHICH INCLUDES EXPENDITURES NEXT YEAR, EVEN THOUGH NEXT FISCAL YEAR, EVEN THOUGH WE'LL BE APPROPRIATING THIS YEAR.

SO ALL WE'RE DOING IS, YOU KNOW, COMPLYING WITH THE FDA'S TOTALLY UNDERSTANDABLE REQUEST, UM, BEFORE THEY PUSH US INTO THE PROGRAM.

AND SO TO GET TO THAT, WE'VE GOTTA ADD 65 MILLION.

WE WON'T SPEND IT ANY DIFFERENTLY THAN WHAT WE'VE PROPOSED.

WE'RE GONNA SPEND IT IN THE SAME TIMEFRAME.

WE'LL GET THROUGH PROJECT DEVELOPMENT IN THE SAME TIMEFRAME.

ASSUMING EVERYTHING YOU KNOW GOES WELL WITH THE FT A, THAT'S ALL WE'RE DOING IS, IS THAT A CORRECT

[00:10:01]

RESTATEMENT OF THIS? YEAH, THAT'S CORRECT.

OF OUR PROPOSAL.

OKAY.

SO WE'RE JUST AGREEING TO MOVE 65 MILLION OUTTA, UH, OUR OVERALL FUND BALANCE INTO A VERY SPECIFIC, SPECIFIC CAPITAL BUDGET WON'T BE SPENT UNTIL NEXT YEAR.

NOTHING ELSE HAS CHANGED.

IT'S MERELY TO MEET, TO MEET THE, THE F FDA'S UNDERSTANDABLE PRICE.

OKAY.

SOUNDS GOOD.

YES.

BUT THAT'S EXCELLENT BECAUSE, UH, FOLKS WANT TO KNOW EX EXACTLY WHAT, WHAT YOU PUT IN PLACE AND EXACTLY WHY YOU'RE PUTTING IT IN PLACE.

AND IF IT MEANS THAT FTA WILL SEE THIS AND SAY THAT'S WHAT WE'RE LOOKING FOR, UH, THAT WE NEED TO DO SOMETHING TO TAKE THE NEXT STEP OF CREDIBILITY WITH A, WITH A RELATIVELY NEW ORGANIZATION, UH, IT'S, IT IS IMPORTANT TO POINT THAT TYPE OF THING OUT.

I THINK THAT YOU'VE DONE A GREAT SERVICE WITH YOUR QUESTIONS.

THANK YOU.

SO I DO THAT, UH, .

SECONDLY, THANK YOU BOTH BY BOARD MEMBER LAMORE, SECOND BY COMMISSIONER TRILLIAN.

SO I WOULD LIKE TO NOW CALL A VOTE.

ANYONE IN FAVOR, PLEASE SAY AYE.

AYE.

AYE.

THE ACTION ITEM NUMBER ONE PASSES UNANIMOUSLY WITH BOARD MEMBER, UH, WATSON, ABSENT.

THANK YOU.

THANK YOU, TEAM.

THANK YOU.

THANK YOU.

NOW WE'RE GONNA MOVE TO

[2.1 Discussion on Austin Light Rail Implementation Plan.]

OUR DISCUSSION ON THE AUSTIN RAIL IMPLEMENTATION PLAN.

SO I'LL HAND IT BACK TO YOU, GREG, THE OBJECTIVES OF THIS AFTERNOON, AND WE'RE GONNA HAVE STAFF ALSO SIT AROUND THE TABLE AND I'M GONNA LET THEM INTRODUCE THEMSELVES.

SO THANK YOU.

WELL, THANK YOU CHAIR.

THANKS FOR, AGAIN, I THINK THIS BECOMES THE ROLE AT THE SLEEVE, PART OF THE, THE MEETING AND, UM, THIS BECOMES THE ROLE AT THE SLEEVE PART OF THE MEETING.

SO I THINK IT'S JUST IMPORTANT TO HIGHLIGHT WHERE WE ARE.

YOU KNOW, WE HAVE, UM, WE'VE BEEN VERY CLEAR MINDED ABOUT HITTING OUR MARK AND HITTING, HITTING MILESTONES, AND WE'VE BEEN DOING THAT OVER THESE LAST TWO YEARS.

UM, AND WE WANT TO TALK ABOUT SOME OF THE ACHIEVEMENTS WE ARE TODAY THAT I THINK CAN HELP INFORM THE DIALOGUE THAT WE WANT TO HAVE WITH YOU AROUND TWO MAJOR TOPICS.

WHERE ARE WE IN THE BIG PICTURE OF AUSTIN LIGHT RAIL FROM A SCHEDULE PERSPECTIVE ON COST INFORMATION, AND THEN THAT REALLY KEY COMPONENT ABOUT OUR DELIVERY, UH, HOW WE'RE GONNA DELIVER THIS PROJECT WITH OUR PARTNERS IN INDUSTRY.

SO REALLY HAVING A BIG DIALOGUE ABOUT THIS TODAY.

BUT TO KICK IT OFF, I THINK IT'S IMPORTANT THAT WE JUST TALKED ABOUT, WE HAVE, UM, FROM OUR FEDERAL PROCESS, THERE'S TWO KIND OF KEY, UH, SWIM LANES THAT WE'RE IN.

ONE IS THE NEPA PROCESS.

WE KICKED THAT OFF BACK EARLIER IN THE YEAR.

THAT PROCESS IS ONGOING AND WE ARE GONNA COME BACK AND TALK TO YOU MORE ABOUT HOW WE ARE ADVANCING ALL OF THAT.

ONE OF THE KEY EFFORTS IS WE'VE JUST, UM, FINISHED UP OUR SCOPING EXERCISE THAT I THINK JEN'S GONNA ADD SOME MORE, UH, COLOR TO.

WE, AS WE MENTIONED JUST JUST A FEW MINUTES AGO, WE HAVE OFFICIALLY, UM, REQUESTED ENTRY INTO THE PROJECT DEVELOPMENT PHASE OF THE FEDERAL TRANSIT ADMINISTRATION'S NEW START PROJECT.

AND AGAIN, I REALLY NEED TO, UM, THANK, UM, THE FTA STAFF BOTH HERE IN TEXAS AND IN HEADQUARTERS FOR HELPING US THROUGH THIS PROCESS OVER THESE YEARS.

THEY'VE BEEN WITH US.

THEY'RE JUST SUCH A FANTASTIC, UH, GROUP OF FOLKS, UM, THAT ARE INTERESTED IN SUCCESS HERE IN AUSTIN AND IN TEXAS AS WELL.

SO, REALLY A WONDERFUL PROCESS AND WE'RE EXCITED TO BE AT THIS MILESTONE, UM, AS AN, AS AN ORGANIZATION, BUT ALSO AS A COMMUNITY THAT WE'RE ABLE TO GET TO THIS REALLY KEY MOMENT.

UM, SO GREAT, GREAT MOMENT TO CELEBRATE THAT.

AND IT HELPS REALLY UNLOCK SOME OF THE CONVERSATIONS THAT WE WANT TO HAVE NOW, NOW THAT WE'RE ABLE TO PUT THAT START DATE ON THIS ROUGHLY TWO YEAR SCHEDULE.

IT REALLY HELPS INFORMING A LOT OF THE WORK THAT'S AHEAD OF US FROM A CONTRACTING PERSPECTIVE, FROM A FINANCIAL CASH FLOW PERSPECTIVE.

AND SO IT'S A REALLY GOOD MOMENT TO STOP, REFLECT ON THIS MILESTONE, BUT WHAT IT MEANS FOR OUR PROJECT AND FOR A TP.

AND THEN AS PART OF THAT IS, AGAIN, THE RESOURCES THAT WE'RE GOING TO USE TO CONTINUE TO ADVANCE THAT PROJECT.

WE'VE BEEN, WE HAVE BRIEFED YOU BEFORE A FEW DIFFERENT OCCASIONS ON THIS.

WE'RE REALLY GONNA GO REALLY DEEP TODAY ON SOME OF THESE TOP TOPICS ABOUT, UH, HOW WE'RE GONNA MOVE THIS FORWARD.

AND, AND, AND BRAD AND CASEY AND, AND LINDSAY AND THE TEAM ARE GONNA WALK US THROUGH WHERE WE ARE.

SO WITH THAT, I THINK I'LL TURN IT OVER TO, I THINK JEN, JUST TO GIVE US A QUICK HIGHLIGHTS ON WHERE WE ARE, BIG PICTURE, SCHEDULE WISE, AND FTA.

OKAY.

THANKS GREG.

UH, AND, UH, THANK YOU ALL.

UM, SO I'LL, I'LL START WITH A LITTLE BIT OF THE FILLING IN SOME OF THE COLOR COMMENTARY ON THE SCOPING PERIOD THAT WE JUST CONCLUDED, WHICH IS ONE OF OUR FIRST STEPS IN NEPA.

SO WE CONDUCTED FIVE PUBLIC MEETINGS IN PERSON.

WE END A VIRTUAL OPEN HOUSE.

UM, AND WE GOT GREAT ATTENDANCE.

WE GOT WELL OVER 400 ATTENDEES TOTAL.

UM, AND MORE THAN TWO THIRDS OF THEM FILLED

[00:15:01]

OUT THE SURVEY FORM THAT WE PROVIDED, WHICH IF YOU ATTENDED, YOU SAW, WE ASKED QUITE A FEW QUESTIONS.

AND SO, YES, SIR.

I THINK MOST OF THE PEOPLE IN THIS ROOM NOW, BUT IF SOMEBODY'S LISTENING, COULD YOU TELL US WHAT NEPA IS, JUST SO THAT EVERYBODY KNOWS WHAT THE ACRONYM MEANS? NEPA, YES.

SORRY.

.

NEPA.

FEEL FREE TO STOP ME WITH THE ACRONYMS ANYTIME.

I, NO, IF IF YOU, YES, I'LL TELL FOLKS GENERALLY.

SO, NEPA, NATIONAL ENVIRONMENTAL POLICY ACT, UM, AND THAT IS THE PROCESS THAT, UM, OUR NOTICE OF INTENT IN THE FEDERAL REGISTER REALLY INITIATED, UH, THAT WE'RE DOING THE ENVIRONMENTAL REVIEW ON THIS PROJECT, UH, THE AUSTIN LIGHT RAIL PHASE ONE THAT WE'RE NOW ADVANCING.

SO THE FIRST STEP, YOU KNOW, IS SCOPING.

AND THE PUBLIC MEETINGS WE HELD WE'RE A PART OF JUST COMMUNICATING TO THE PUBLIC WHAT WE'RE DOING, WHAT WE'RE EVALUATING IN NEPA, UM, AND TO HEAR BACK, YOU KNOW, FEEDBACK ON ISSUES OF IMPORTANCE THAT WE SHOULD BE SURE TO EVALUATE, UH, AND FOLD INTO THE WORK THAT WE'RE CONTINUING TO DO.

UM, AND SO WE GOT A LOT OF FEEDBACK.

UM, PEOPLE WHO CAME IN PERSON FILLING OUT FORMS, UM, ONLINE, YOU CAN STILL SEE ALL THE SAME MEETING MATERIALS AND FILL IN ONLINE FORMS. SO WE GOT ONLINE OVER 1800 VIEWS AND, UM, 436 SURVEYS RETURNED JUST ONLINE.

SO THAT'S IN ADDITION.

IN ADDITION TO THE IN-PERSON, UH, WE ALSO MADE AN EFFORT TO REALLY REACH OUT AND MAKE SURE PEOPLE WERE AWARE OF THE MEETINGS AND HOW THEY COULD GET MORE INFORMATION IN GENERAL, UM, BY DOING AT BUS STOP OUTREACH, GOING TO DIFFERENT COMMUNITY CENTERS, YOU KNOW, ALONG THE LIGHT RAIL LINE.

UM, AND JUST TRYING TO BE, UH, REALLY SOLICITING AS MUCH FEEDBACK AS WE POSSIBLY COULD.

SO ALL OF THIS INFORMATION, UM, RIGHT NOW WE'RE SORTING THROUGH ALL THE COMMENTS, UNDERSTANDING WHAT THEY ARE, WE'RE TRYING TO PUT THEM INTO BUCKETS AND THINK ABOUT HOW THEY HELP INFORM THE WORK THAT WE'RE DOING NEXT.

UM, AND WE WILL BE PRODUCING A SCOPING SUMMARY REPORT.

UM, AND THAT IS ESSENTIALLY, UH, JUST REFLECTING BACK WHAT WE HEARD, AND THAT WILL BE A PUBLICLY AVAILABLE DOCUMENT THAT WE'RE EXPECTING THAT TO BE AVAILABLE IN MAY.

UH, SO ON THE, UH, REQUEST TO ENTER PROJECT DEVELOPMENT, I KNOW WE'VE TALKED ABOUT THAT FOR A MINUTE ALREADY, UM, BUT WE'RE, UM, ENGAGED IN SOME QUESTIONS JUST BEFORE WE MOVE PAST THE PUBLIC ENGAGEMENT.

UH, WERE YOU MOVING BEYOND THAT? YES, PLEASE.

THE PUBLIC ENGAGEMENT.

SO YOU'RE GONNA MOVE TO D SO MAYBE THERE, I HAD A COUPLE OF QUESTIONS OR COMMENTS ON THAT.

UM, YOU KNOW, YOU SAID WE HAD REALLY GOOD ATTENDANCE.

LIKE WHAT'S THE BENCHMARK FOR THAT? YOU KNOW, HOW WOULD YOU KNOW WHAT'S GOOD ATTENDANCE AND WHAT IT WELL, THAT'S A GOOD QUESTION.

UM, SO AT PROBABLY OUR BEST ATTENDED MEETING HAD 119 PEOPLE OR SHOW, AND THAT WAS THE ONE DOWN AT, UH, TWIN OAKS LIBRARY.

YEAH.

SO, YOU KNOW, ONE OF THE THINGS WE TRY TO DO IS THINK ABOUT WHEN WE'RE CONDUCTING MEETINGS.

SO WE HAD A RANGE OF SOME AT NIGHT, SOME IN THE MORNING, ONE ON A SATURDAY, JUST TRY TO PROVIDE A RANGE OF OPTIONS FOR PEOPLE, UM, TO FIT IT INTO THEIR LIVES.

UM, SO, SO ONE WAY TO MEASURE SUCCESS I GUESS, IS LIKE JUST THE NUMBER OF PEOPLE COMING IN.

AND I WOULD SAY 119 PEOPLE ON A TUESDAY NIGHT IS JUST OBJECTIVELY GOOD.

OKAY.

THAT'S A LOT OF PEOPLE TAKING TIME OUT OF THEIR DAY TO COME.

TOTALLY AGREE.

BUT YOU CAN HAVE A GREAT MEETING WITH 25 ATTENDEES AS WELL.

UM, SO JUST ANOTHER WAY TO MEASURE IT IS NOT JUST THE NUMBERS, BUT HOW MANY PEOPLE CAME AND ACTUALLY FILLED OUT A SURVEY OR ENGAGED IN CONVERSATIONS AND SO THE QUALITY OF THE ENGAGEMENT.

AND SO THAT'S THE FOCUS FOR US AS WELL.

LIKE, BUT DO WE, IS THERE, YOU KNOW, LIKE DO WE BENCHMARK AGAINST SIMILAR, YOU KNOW, LARGE PUBLIC, UH, CAPITAL IMPROVEMENT PROJECTS AND HOW, HOW THEY'VE, YOU KNOW, CAPITAL METRO DOES A TON OF THEM.

THE CITY OF AUSTIN DOES A TON OF THEM.

LIKE, I JUST WANT THE SENSE OF CONFIDENCE, YOU KNOW, THAT WHEN WE, BECAUSE WHAT WE WILL DO IS WE'LL GO OUT AND SAY WHAT YOU JUST SAID, YOU KNOW, WE HAD GREAT PUBLIC INPUT AS WE MOVE THE PROJECT FORWARD.

AND UM, LIKE I WANT TO BE ABLE TO SAY THAT WITH SOME DEGREE OF CONFIDENCE THAT OURS STOOD OUT, YOU KNOW, REAL, LIKE IN THE UNIVERSE OF CAPITAL PROJECTS, OURS KIND OF STOOD OUT AND LOOK, UH, IT'S NOT LIKE WE NEED 200,000 PEOPLE INPUTTING TO SOMETHING LIKE THIS.

YOU KNOW, THAT'S FREAKISHLY UNREALISTIC FOR PEOPLE TO, YOU KNOW, THEY TRUST US TO DO THE WORK, BUT AT THE SAME TIME WE NEED TO HEAR FROM THEM.

HOW DO I KNOW THAT? LIKE IT IS IN FACT GOOD.

AND THEN I CAN SAY THAT WITH CONFIDENCE THAT WE REALLY HAD ROCK SOLID PUBLIC INPUT.

WELL, I GUESS I WOULD SAY A COUPLE THINGS TO THAT.

UM, ONE MIGHT BE THAT WE'VE HEARD FEEDBACK FROM SOME OF OUR PEER AGENCIES, UM, THAT, UM, THAT ARE IMPRESSED BY THE NUMBERS AND THE TYPE OF FEEDBACK THAT WE'RE GETTING.

[00:20:01]

SO THERE'S THAT.

UM, AND YOU KNOW, JUST SOME OF OUR, ALL OF OUR PROFESSIONAL EXPERIENCE IN TERMS OF, AGAIN, THE QUALITY AS WELL AS THE QUANTITY OF ENGAGEMENT.

UH, AND I THINK ANOTHER THING THAT WE'RE REALLY THINKING ABOUT IS, SO WE GET THIS FEEDBACK AND THEN WHAT HAPPENS NOW, IT'S GONNA BE MY NEXT QUESTION, .

SO HOW CAN YOU KNOW, HOW DO WE FOLD IT INTO OUR TECHNICAL WORK EXACTLY.

AND HOW DO WE DEMONSTRATE THAT BACK TO THE COMMUNITY? EXACTLY.

HAVE THEM SEE THE, SO WHAT THEY HAVE TO SAY IS, YOU KNOW, MANIFEST ITSELF AND THE PROJECT TO THE EXTENT IT MAKES SENSE.

AND JUST REAL QUICKLY, 'CAUSE I WANNA LET YOU GO FORWARD, BUT, YOU KNOW, I WENT TO SOME OF THESE MEETINGS AND I WILL SAY ALSO, LIKE, I WAS INCREDIBLY IMPRESSED WITH LIKE, HOW THOUGHTFUL PEOPLE ARE.

LIKE THEY, THEY REALLY UNDERSTAND THEIR OWN NEIGHBORHOOD, YOU KNOW? AND SO ONE OF THEM WAS A PARK AND RIDE IN THE NEIGHBORHOOD ON RIVERSIDE, AND THERE'S A GUY THAT'S TAKEN THAT UP AND THEY'RE, THEY'RE LIKE, YOU KNOW, IT DOESN'T MAKE SENSE.

AND THEY HAVE 400 REASONS WHY, AND THEY'RE LEGITIMATE, YOU KNOW, FROM A GUY THAT LIVES AND WORKS RIGHT THERE.

AND HE HAD SOME OTHER PEOPLE ALONG WITH HIM AND IT'S, YOU KNOW, IF YOU DIDN'T LIVE THERE, YOU WOULDN'T NECESSARILY KNOW THAT.

BUT, SO GIVING HIM A VEHICLE TO EXPRESS THAT, AND Y'ALL DID A GREAT JOB, EVERYBODY GIVING THEM THAT VEHICLE TO EXPRESS THAT, WRITE IT DOWN, YOU KNOW, THE GUY'S WRITTEN ME EMAILS AND, UM, ALL OF THAT IS GREAT.

AND THIS IS JUST ONE EXAMPLE.

'CAUSE I KNOW THERE'S A WHOLE BUNCH OF DIFFERENT THINGS.

I'M JUST PULLING THIS ONE OUT AND, AND MAYBE THE PARK AND RIDE MAKES SENSE THERE, MAYBE IT DOESN'T, BUT WHAT'S THE NEXT STEP WHERE THEY LIKE THAT GUY AND ALL THE PEOPLE THAT HE'S BANDED TOGETHER TO DO THAT, AND THEN ALL THE OTHERS THAT PUT THEIR COMMENTS IN THAT MAY OR MAY NOT MANIFEST HIMSELF IN A CHANGE TO THE PROJECT.

HOW DO THEY BECOME AWARE THAT ALL OF THAT HAS BEEN, YOU KNOW, CONTEMPLATED BY US, THOUGHT THROUGH THOROUGHLY AND EITHER ACCEPTED OR REJECTED BASED ON, YOU KNOW, ACKNOWLEDGING IT AND THINKING IT THROUGH.

SO THE, THE SCOPING SUMMARY REPORT, I THINK WHAT THAT WILL ACCOMPLISH IS PEOPLE CAN SEE WHAT WE HEARD, AND THAT'S REALLY REFLECTING BACK WHAT WE HEARD.

SO KIND OF THE NEXT LEVEL OF WHAT WAS THE IMPACT OF IT.

YEAH.

UM, SO THE WAY THAT WE'RE HANDLING THAT RIGHT NOW IS REALLY AS WE'RE UNDERSTANDING THE COMMENTS AND SORTING THEM THROUGH, MAKING SURE THAT WE'RE SHARING THEM WITH THE RIGHT PEOPLE, THE PEOPLE DOING THE TECHNICAL ANALYSIS OR THE ENGINEERING WORK, OR WHOEVER NEEDS TO UNDERSTAND WHAT THE FEEDBACK WAS AND COULD TAKE ACTION ON IT AS APPROPRIATE.

UM, SO THAT'S THE WORK THAT'S HAPPENING RIGHT NOW AS FAR AS REPORTING BACK, UM, ON KIND OF WHAT HAPPENS AFTER THAT.

I THINK THAT WILL BE REALLY WITH THE DRAFT EIS WHEN THAT'S RELEASED, BECAUSE THAT WILL BE NOT ONLY THE RESULTS OF THE ANALYSES WE'RE DOING AND KIND OF THE STATE OF OUR, OUR BASE DESIGN, UM, BUT WILL ALSO CONTEMPLATE THE IMPACT OF THE INPUT THAT WE HEARD AND HOW IT MIGHT HAVE AFFECTED THINGS.

UM, SO WHICH COULD TAKE ANY NUMBER OF FORMS. YEAH.

SO, AND WHEN WE ISSUE THE DRAFT, EIS YOU KNOW, THERE'LL BE ANOTHER FORMAL PUBLIC COMMENT PERIOD THEN.

OKAY.

UH, AND SIMILARLY, UM, YOU KNOW, WE'LL BE GETTING A LOT OF FEEDBACK AND UNDERSTANDING WHAT THOSE COMMENTS ARE AND, UM, AS A REGULAR PART OF THE NEPA PROCESS IN THE FINAL, UH, ENVIRONMENTAL IMPACT STATEMENT, WE WILL GO THROUGH ALL THOSE COMMENTS AND RESPOND TO THEM.

AND THAT'S PART OF THAT DOCUMENTATION.

OKAY.

GOOD.

GREAT.

ALRIGHT.

THANKS.

BOARD CHAIR.

IT'S JUST GONNA ADD TO THAT CONVERSATION.

I THINK IT'S GREAT SORT TO ENFORCE THIS PUBLIC PROCESS.

WE ALWAYS TALK ABOUT, YOU KNOW, THE WORK THAT JEN AND COURTNEY AND JULIE ARE OUT AND THE WHOLE TEAM ARE OUT THERE DOING COMMUNITY INPUT ISN'T A STEP, IT'S A CONTINUUM.

IT JUST HAPPENS THROUGHOUT.

AND I THINK YOU HOPE WE SAW THAT DEMONSTRATED FROM WHERE WE WERE IN THE LEAD UP TO LAST MARCH AND OUR WONDERFUL EVENT THAT WE HAD AT THE LIBRARY, THE PROCESS TO GET THERE.

AND THAT WAS, THERE WAS THE REFLECTION BACK FROM THE COMMUNITY ABOUT HOW WE WENT THROUGH THAT.

UM, WE'RE TRYING TO CARRY, WE'RE GONNA CARRY THAT FORWARD.

AND EVEN THE SENSE OF WHERE WE'RE ON SCOPING, MAKING SURE THAT THE ALIGNMENT, THIS KIND OF GETS GRANULAR, BUT THE, THE ALIGNMENT AND SEQUENCING OF GETTING THAT SCOPING INFORMATION IN AT THE RIGHT TIME, THAT WE CAN STILL ADVANCE THE PROJECT AND GET THAT MATCHED UP WITH OUR TECHNICAL EXPERTISE.

WE ALWAYS TALK ABOUT WE'RE AN ORGANIZATION OF COMMUNITY AND EXPERTS AND GETTING THAT ALIGNED.

YEAH.

SO THAT, THAT INPUT IS ACTUALLY, IT'S BOTH FED BACK AND REFLECTED BACK, BUT IT'S, IT'S BROUGHT INTO THIS BUILDING.

I MEAN, IT'S REALLY BROUGHT INTO THIS BUILDING SO WE CAN SAY, OH, THAT IS AN INTERESTING PERSPECTIVE OUT IN THAT NEIGHBORHOOD THAT WE HADN'T THOUGHT ABOUT.

HOW CAN WE, HOW CAN WE LOOK AT THAT? HOW CAN WE SOLVE FOR IT? SO I THINK THAT'S THE, THE STEPS OF IT ARE REALLY IMPORTANT AS WELL.

SO THE TEAM IS JUST THINKING ABOUT THAT ALL THE TIME.

I HAVE ONE QUESTION, JEN, AND THANK YOU FOR THE HEAVY LIFT TO ALL OF THE STAFF THAT WENT TO

[00:25:01]

THE PUBLIC MEETINGS.

AND I REALLY APPRECIATE YOUR, YOUR COMMENTS BOARD MEMBER ABOUT, YOU KNOW, HOW DO WE QUANTIFY WHAT, WHAT IS OUR MEASURE OF SUCCESS? AND FROM EXPERIENCE, ONE OF THE THINGS THAT I HAVE FOUND VERY VALUABLE IS WHEN, WHEN WE HAVE THE COMMITTEE TO SHOW UP TO THESE MEETINGS, NOT ONLY ARE THEY TAKEN SERIOUSLY, BUT THEY FEEL THEY HAVE A VOICE, THEY'RE WELCOME, THEY BELONG, AND THAT WE DON'T HAVE ALL THE ANSWERS.

RIGHT? THEY ARE THE EXPERTS IN THEIR OWN NEIGHBORHOODS.

THEY ARE THE, THEY KNOW WHAT THEY'RE LACKING.

SO MY QUESTION IS, HOW DOES, IF THERE IS A CONFLICT OR SOMETHING THAT IS NOT ALIGNING FROM WHAT THE COMMUNITY WANTS AND WHAT THE SFTX EXPECTS OR THE SOLUTION, THAT'S AN ENGINEERING SOLUTION.

IF THERE'S A DISCONNECT OVER THE PERIOD OF THE TWO YEAR EVALUATION OR THE PROJECT DEVELOPMENT, WE TRY TO RESOLVE THOSE ISSUES, RIGHT? TO COME TO THAT ALIGNMENT.

BUT WE DON'T WANNA LOSE PEOPLE IN THE PROCESS.

SO THAT IF YOU HAD A GREAT IDEA AND WE TRY TO STUDY IT, BUT IT CAN'T BE IMPLEMENTED, IT'S, IT'S JUST NOT FEASIBLE FOR WHATEVER REASON, ENVIRONMENTAL CAUSED, UH, CULTURALLY WHAT, WHATEVER THE REASON IS.

IN YOUR EXPERIENCE, HOW, HOW DO WE, HOW HAS THAT MANIFESTED WITH THE FDA OR IN, IN THE DIS REPORT? HOW DO WE COME TO TERMS WITH THAT? WELL, UM, SO IN THE SITUATION THAT YOU'RE SUGGESTING, YOU KNOW, WHERE THERE ARE SUGGESTIONS MAYBE OF ALTERNATIVES OR IDEAS THAT SOME, A MEMBER OF THE PUBLIC IS PUTTING FORWARD MM-HMM.

AND THAT WE EVALUATE, UM, PART OF OUR PROCESS IS TO FULLY DOCUMENT, YOU KNOW, HOW DID WE GET TO THE PROPOSED PROJECT? WHAT ARE THE ALTERNATIVES WE EVALUATED MM-HMM.

, UM, THAT GOT US TO THIS PLACE.

AND I THINK THAT AT LEAST THAT EXAMPLE YOU'RE SUGGESTING, I WOULD PUT IT IN THAT CATEGORY, UM, AS WE HAVE RECEIVED FEEDBACK AND, YOU KNOW, THERE HAVE BEEN COMMENTS LIKE THAT REALLY EVEN OVER THE YEARS, UM, THAT WE'VE EVALUATED AND WORKED THROUGH.

AND IT'S JUST A KIND OF CONTINUUM OF, AS WE, UM, CONSIDER ANY IDEAS AND DECISIONS ARE MADE ABOUT THEM, THAT THAT'S DOCUMENTED AND IT'S AS TO WHY AND WHAT THE RATIONALE WAS.

UM, AND SO THAT'S WHAT WE'RE CONTINUING TO DO.

UM, AS WE'RE LOOKING THROUGH THESE COMMENTS, IF THERE ARE NEW IDEAS OR CONCEPTS OR OPTIONS PUT FORTH, UM, TO, UH, YOU KNOW, IF THEY'RE PRACTICABLE TO CONSIDER THOSE.

UM, AND IF IT'S SET ASIDE, WHY IS THAT AND IT'S DOCUMENTED OR IF IT ADVANCES AND WE'RE CONTINUING TO EVALUATE, THAT'S THE CASE.

SO, YEAH, BECAUSE I THINK FOLKS REALLY, I THINK THE SUCCESS OF ANY PROJECT OF THIS MAGNITUDE, ESPECIALLY IF IT'S GENERATIONAL, LIKE OUR WARS, GIVING PEOPLE THE OWNERSHIP, THEY OWN IT.

THIS IS THEIR PROGRAM, THIS IS THEIR INVESTMENT.

I THINK IT'S REALLY CRUCIAL AND HOW WE RESOLVE ANY ONE OF THOSE DISCONNECTS PERHAPS.

AND I'M THINKING THERE'S A LOT OF REALLY GOOD IDEAS THAT MAY BE OUT OF THE BOX.

AND I THINK AUSTIN LIKES TO STAND OUT AS WE'RE VERY ORIGINAL IN THE WAY WE DO THINGS.

SO THERE'S A WAY OF BEST PRACTICES AND A WAY OF REINVENTING SOMETHING ALLOW AUSTIN RIGHT.

THE WAY THAT AUSTIN WOULD DO IT.

SO I JUST WANT US TO HAVE A, AN OPEN MIND OF SOME OF THE WACKY IDEAS THAT COULD COME OUT AND HOW WE COULD IMPLEMENT THEM AND STUDY THEM AND EMBRACE THEM AND NOT IMMEDIATELY DISMISS THEM.

RIGHT.

AND I THINK WE ARE OPEN TO ALL THAT.

OKAY.

YOU KNOW, UM, IF YOU KNOW YOU'RE INVITING PEOPLE TO COME TO THE PUBLIC MEETINGS AND SPEAK TO YOU, YOU HAVE TO BE OPEN TO THAT.

YOU HAVE TO BE, AND THAT THIS TEAM TRULY IS, IS OPEN TO ALL THE IDEAS COMING, UH, TO US TO MAKE SURE THAT THEY'RE CONSIDERED.

UM, AND KIND TO YOUR POINT, I THINK WE ALL WANT THIS TO BE VERY MUCH A PROJECT OF AUSTIN.

AND THAT MEANS IT'S, WE'RE VERY ENGAGED WITH AUSTINITES AS TO WHAT THAT MEANS AND WHAT THAT LOOKS LIKE.

THANK YOU.

MEMBER GARCIA.

I, I, NO, SORRY.

AND YET, AS QUICKLY AS WE ARE WHEN WE'RE DEALING WITH OTHER ENTITIES, IT'S GOOD TO KEEP IN MIND THAT WE MAY NOT HAVE THE LAST WORD.

SO DRAWING FOR AN EXAMPLE FROM ANOTHER FIELD ENTIRELY.

UM, WE AS CITIZENS OF AUSTIN WANT TO, UH, END THE OPERATION OF THE, UH, FA POWER PLANT.

IT'S A COAL PLANT.

IT'S VERY DIRTY AND, UH, SUPPORT IT, BUT, UH, WE CAN ALL VOTE UNANIMOUSLY TO END IT, BUT PROBABLY WON'T LET US

[00:30:01]

BECAUSE THEY HAVE THE LAST WORD.

SO IT'S IMPORTANT TO KEEP IN MIND THAT WE DON'T ALWAYS HAVE THE LAST WORD.

WE HAVE TO STILL WORK WITHIN CERTAIN PARAMETERS.

WE CONVEY THAT TO THE PUBLIC IN AS KIND OF WAY AS WE CAN, BUT THAT'S, IT IS WHAT IT IS.

THE ONLY THING I WAS GONNA ADD TO YOUR POINT, TO MAKING SURE THAT EVERYONE FELT WELCOME.

I, I WILL SAY Y'ALL DID A GREAT JOB DOING THAT.

YOU KNOW, HATS OFF.

IT WAS PE PEOPLE I THINK FELT VERY WELCOME, VERY FREE TO EXPRESS OUR IDEAS AND THEIR OPINIONS, BOTH PRO AND CON.

SOME OF THE PEOPLE THAT WERE COMPLAINING, I WOULD'VE PROBABLY SPENT LESS TIME THAN Y'ALL DID.

BUT, UH, GOD BLESS YOU.

SO EVERYONE SHOULD HAVE FELT VERY WELCOME IN TRYING TO ASSURE OURSELVES THAT PEOPLE HAVE HEARD US TO REMIND ME ALL THAT SATISFIED LBJ OR JAKE , ONE OF THOSE GUYS WHO, WHO WOULD SAY, I CAN TEACH YOU ALL DAY LONG, BUT I CAN'T LEARN IT FOR YOU .

OKAY.

UM, JUST LOOKING AT MY NOTES TO SEE IF THERE'S ANYTHING WE HAVEN'T TALKED ABOUT ON THIS SLIDE.

BUT I, I THINK, UH, WE'VE TALKED ABOUT ENTERING PROJECT DEVELOPMENT, UM, AND ON THE PROCURING ADDITIONAL RESOURCES, WE'LL BE HEARING QUITE A BIT MORE ABOUT THAT A LITTLE BIT LATER WITH PROJECT DELIVERY.

UM, AND, AND SOME OF THE OTHER WORK WE'RE DOING TO GET RESOURCES ON BOARD TO CONTINUE THE ENGINEERING AND, AND ULTIMATELY TO BRING ON SOME MORE OWNER SUPPORT THROUGH OUR DELIVERY PARTNER.

UM, BUT IN THE MEANTIME, I'M GOING TO MOVE TO TALKING ABOUT OUR, OUR INITIAL PLANNING SCHEDULE.

AND SO THIS IS OUR SCHEDULE.

WE'RE PLANNING OUT OUR WORK NOW THROUGHOUT THE DURATION OF CONSTRUCTION TO A A 0.0 OPERATIONS AND, AND REVENUE SERVICE.

UM, AND SO WE'RE EXPANDING OUR THINKING TO REALLY THINK THROUGH THE WHOLE LIFE CYCLE OF THIS PROJECT RIGHT NOW, UM, TO SUPPORT OUR FTA COORDINATION TO BE ABLE TO COMPLETE THE THINGS THAT WE'RE GONNA NEED TO DO DURING PROJECT DEVELOPMENT.

UH, AND ALSO IT, UH, MAKES SENSE WITH THE WORK WE'RE DOING TO ADVANCE THE THINKING ON OUR PROJECT DELIVERY AND THINK ABOUT THE DIFFERENT IMPACTS ON, UH, SCHEDULE AND COST, UH, THAT WOULD RESULT.

SO, UH, SO THIS IS, UM, HOW WE'RE, WE'RE THINKING ABOUT SOME OF OUR KEY MILESTONES.

UH, CERTAINLY THE, UH, LIGHT RAIL IMPLEMENTATION PLAN THAT WAS APPROVED LAST YEAR.

WE'VE ADVANCED THAT AS WE'VE ALREADY DISCUSSED.

UH, WE'RE IN THE FEDERAL PROCESS NOW WITH REGARD TO NEPA, UM, AND PURSUING PROJECT DEVELOPMENT.

UM, AND SO PROJECT DEVELOPMENT IS A TWO YEAR PROCESS GENERALLY.

UM, SO WE'RE ANTICIPATING IN 2026, UM, WE'LL BE REACHING KINDA WHAT FTA CALLS THE ENGINEERING PHASE.

UM, AND IT'S, UH, PARTICULARLY IMPORTANT TO US BECAUSE THAT IS THE POINT AT WHICH WE WILL FINALIZE WITH FTA, WHAT THE FEDERAL FUNDING AMOUNT WILL BE.

UM, YOU KNOW, WHEN A GRANT AGREEMENT IS EXECUTED, UM, WE ARE LOOKING TO BEGIN SOME CONSTRUCTION ACTIVITIES IN 2027, UH, ULTIMATELY OPEN FOR SERVICE.

UH, WE'RE, UM, PROJECTING 2033.

UH, AND THAT MEANS THAT CONSTRUCTION WOULD, UM, CONCLUDE WITHIN THAT PERIOD, BUT ALSO TESTING, UM, AND BE READY FOR SERVICE.

SO THIS IS OUR PLANNING SCHEDULE, UM, MEANING WE'RE GONNA BE CONTINUALLY EVALUATING IT AND IT, UH, WILL BE INFORMED BY COMMUNITY INPUT, CERTAINLY THE FEDERAL PROCESS, UM, AND PERHAPS MORE OF IN ANYTHING BY FINAL CONTRACTING, UM, AND HOW WE ULTIMATELY, UM, PACKAGE AND, AND SEQUENCE THE WORK.

UM, SO AS WE'RE SPEAKING ABOUT THIS PLANNING SCHEDULE, UM, THIS SCHEDULE FOR WORK REALLY INFORMS TOO HOW WE'RE CONSIDERING COSTS.

UH, WE'RE CONSIDERING COSTS IN TERMS OF OUR EXPENDITURES OVER TIME AND HOW THAT WOULD PLAY OUT.

UM, AND CONTINUALLY LOOKING AT THAT AND THINKING ABOUT VALIDATING OUR FINANCIAL PLANNING ASSUMPTIONS.

UH, SO WITH THAT, I'M GOING TO, UH, PASS IT OVER TO BRIAN OR PAUSE FOR QUESTIONS.

OH YEAH, , I SHOULD HAVE DONE THAT.

YEAH, NO, AND I WILL SAY, BY THE WAY, I REALLY APPRECIATE Y'ALL DOING A WORK SESSION.

LIKE HAVING, JUST BEING ABLE TO TALK ABOUT THIS IS IMPORTANT FOR OUR SAKE TO UNDERSTAND IT, BUT ALSO TO CONVEY TO THE PUBLIC SO THEY UNDERSTAND IT SO THEY KNOW THAT WE'RE, UM, YOU KNOW, MAKING SURE WE UNDERSTAND IT AS WELL.

SO BEFORE WE MOVE TO THE BUDGETING, YOU KNOW, PAYING FOR THE PROJECT, I HAD A COUPLE OF QUESTIONS AROUND THE SCHEDULING OF IT, WHICH YOU'VE TALKED ABOUT BECAUSE, SO TO MY MIND, YOU KNOW, FROM LIKE BEING ON THE CAP METRO BOARD, WE DIDN'T DO AS MUCH CAPITAL WORK THERE, BUT CERTAINLY AT THE C-T-R-M-A, YOU KNOW, WE DID SOME MAJOR CAPITAL PROJECTS THERE.

I KNOW YOU DO AT THE COUNTY AS WELL.

UM, I KNOW YOU DID WOULD HAVE AT AUSTIN ENERGY, UM, YOU KNOW, LIKE ONCE YOU GET TO A POINT WHERE, SO WE

[00:35:01]

REPRESENT THE PUBLIC, RIGHT? YOU KNOW, US AS BOARD MEMBERS, LIKE THAT'S OUR BOSS, THAT'S WHO WE'RE ACCOUNTABLE TO.

AND AT SOME POINT ALONG THE WAY, WE'RE GONNA PUT OUT THERE, THIS IS THE DAY THAT Y'ALL ARE GOING TO GET TO RIDE THE PROJECT THAT WE'VE BEEN WORKING ON FOR X NUMBER OF YEARS.

UM, AND THEN IT BECOMES OUR JOB ON BEHALF OF THE COMMUNITY AT LARGE TO HOLD OURSELVES, INCLUDE US STAFF, THE WHOLE ORGANIZATION, WHOEVER WE CONTRACT WITH TO THAT SCHEDULE.

SO WE'VE NOW KIND OF FOR THE FIRST TIME REALLY PUT OUT IN A SLIDE 2027 START CONSTRUCTION 20, BREAK GROUND 2033, CUT A RIBBON.

GIVE ME A SENSE OF LIKE HOW ON A, LIKE, 'CAUSE THIS ALWAYS WORKS FOR ME ON A SCALE OF ONE TO 10 OF THE CERTAINTY OF LIKE, ARE WE NOW COMMITTING TO THAT? IS IT THE FIRST OF 2027, IS IT THE END OF 2027? AND WHAT ARE THE VARIABLES THAT YOU KNOW ARE CONTINGENT? BECAUSE OBVIOUSLY WE'RE PROJECTING SOMETHING WELL INTO THE FUTURE, BUT I JUST WANT TO KNOW AT WHAT POINT DO I START HOLDING MYSELF ACCOUNTABLE ON THE PUBLIC'S BEHALF? AND IN TURN, BECAUSE THIS IS ONE OF THE MOST IMPORTANT THINGS THE BOARD WILL DO, IS MAKE SURE WE'RE ON SCHEDULE AND ON BUDGET FOR THIS PROJECT.

AND YOU CAN BET THAT THIS BOARD, YOU KNOW, YOU WERE ON THE STAFF END OF IT AT CTRA WILL START SAYING, YOU KNOW, HOW ARE WE TRACKING? ARE WE PAYING CONSISTENT WITH, YOU KNOW, BEING DONE WITH CONSTRUCTION BY 2033? YOU KNOW, WHAT SLIPPING, I MEAN, YOU KNOW, IT, THE WHOLE DIALOGUE SHIFTS TO SOMETHING ENTIRELY DIFFERENT IN TERMS OF HOLDING OURSELVES AND Y'ALL AND EVERYONE ELSE INVOLVED ACCOUNTABLE.

SO JUST GIVE ME A SENSE, YOU KNOW, WE'VE THROWN OUT NUMBERS NOW.

I KNOW THERE ARE A LOT OF CONTINGENCIES FLOATING AROUND.

LIKE I DON'T WANNA BLOW PAST THAT, LIKE FOR MY OWN SAKE AND EVERYONE ELSE'S.

AND JUST SO I UNDERSTAND LIKE HOW CERTAIN THAT, YOU KNOW, UH, MARCH, 2024 YOU ABOUT, YOU KNOW, BREAKING GROUND IN 2027.

SO I GUESS A COUPLE OF THINGS, YOU KNOW, WE'RE ALWAYS GOING TO KNOW THE NEAR TERM SCHEDULE A LOT BETTER THAN THE FARTHER OUT.

UM, BUT WHAT I'M HEARING YOU ASK IN PARTICULAR IS KIND OF WHEN WILL WE KNOW THAT THIS SCHEDULE IS REAL, WE'RE ACCOUNTABLE TO IT AND IT'S MAYBE A MORE SPECIFIC DATE FOR REVENUE SERVICE OR, OR ANY OF THE OTHER MILESTONES? AND I THINK, UH, ONE WAY TO RESPOND TO THAT I CAN THINK OF A COUPLE WAYS.

AND FIRST IS WHEN YOU ACTUALLY HAVE CONTRACTS FOR CONSTRUCTION, OKAY.

THAT WILL BE ASSOCIATED WITH SCHEDULES THAT WE WILL BE TRACKING.

UM, ANOTHER UH, WAY I WOULD ANSWER THAT TOO IS WHEN WE HAVE EXECUTED A GRANT AGREEMENT WITH FTA, UM, FOR THE DOLLARS, BECAUSE YOU KNOW, AT THAT POINT, YOU KNOW, WE'RE SAYING THIS IS OUR MONEY AND YOU KNOW, TIME IS MONEY.

AND SO, YOU KNOW, OUR, UM, OUR BUDGET IS CLOSELY LINKED TO SCHEDULE.

UM, AND SO, UH, SO THOSE ARE A COUPLE THINGS.

SO WE'RE GONNA BE IN PLANNING SCHEDULE MODE FOR PROBABLY THROUGHOUT PROJECT DEVELOPMENT, UM, AND THEN HAVING SOME MORE FIRM CONSTRUCTION SCHEDULES, UM, AFTER ENGINEERING.

I GET THAT, YOU KNOW, OBVIOUSLY IT ALL SHIFTS ONCE YOU SIGN A CONTRACT WITH, YOU KNOW, DESIGN BUILD TEAM OR WHATEVER WE WIND UP DOING.

UM, BUT LIKE HOW CERTAIN ARE WE? NOW LET'S, ON A SCALE OF ONE TO 10, IF 10 IS, YOU KNOW, WE'RE ABOUT AS CERTAIN AS WE CAN BE, WE'RE GONNA TURN IT ON TOMORROW.

YOU KNOW, ONE IS LIKE, OH MY GOD, YOU KNOW, THIS IS LIKE, I'M JUST FLOATING THIS OUT THERE FOR THE HELL OF IT.

UM, , WELL, WE'RE NOT FLOATING IT OUT THERE FOR THE HELL OF IT.

I GOT IT MORE THAT MAYBE THAT PUTS INSTEAD OF FIVE.

YOU TELL ME.

I'M SHOCKED AT DIS BEING , BUT, WELL, I'LL SAY ONE THING, WHICH IS THAT, UM, THIS IS OUR SCHEDULE THAT, YOU KNOW, WE ARE COMFORTABLE WITH BASED ON CERTAIN ASSUMPTIONS.

AND A REALLY BIG ONE IS THE NEPA PROCESS AND THE ROD CONCLUDING AS ANTICIPATED, UM, IN 2025, UH, THAT IS PROBABLY OUR FIRST BIG MILESTONE ON WHICH ALL THE SUBSEQUENT ONES RELY.

OKAY, GREAT.

SO LET'S JUST HOLD ONTO THAT ONE AND THEN MOVE TO THE NEXT ONE.

SO THAT'S EXACTLY WHAT I'M LOOKING FOR.

OKAY.

SO THAT NEEDS TO GO PER PLAN.

UM, HOW MUCH IN CONTROL OF THAT PROCESS ARE WE VERSUS LIKE THE FTA SAYING YAY OR NAY TO CERTAIN THINGS, OR YOU NEED

[00:40:01]

TO DO FOUR MORE MONTHS WORTH OF WORK HERE.

LIKE, BECAUSE IF YOU TELL ME WE'RE 95% IN CONTROL OF THAT, THEN I'M GONNA SAY, OKAY, WE'RE NOW ACCOUNTABLE UNEQUIVOCALLY TO THE PUBLIC FOR NEPA GETTING TO THE ROD HAPPENING IN THAT TIMEFRAME.

SO JUST GIVE ME A SENSE OF THAT.

OKAY.

UM, SO NEPA, THERE, THERE ARE MANY FACTORS CONTROLLING, I THINK OUR SCHEDULE PROGRESS ON THE NEPA SCHEDULE AND CERTAINLY WE ARE ONE OF THEM, RIGHT? OKAY.

WE NEED TO MEET OUR MARKS.

UM, AND SO WE PURSUE STAFFING RESOURCES TO MAKE SURE WE HAVE WHAT WE NEED TO MEET OUR TARGETED SCHEDULE.

OKAY? SO THAT'S ONE THERE IS THE FTA AS WELL AS YOU, YOU KNOW, SUGGESTED.

UM, AND SO WE WORK WITH THE FTA, THEY REVIEW, YOU KNOW, WE WORK TOGETHER WITH THEM, UM, UH, AND THEY HAVE BEEN A FANTASTIC PARTNER, UM, GOD BLESS 'EM, .

AND ONE OF THE THINGS WE HAVE DONE TO KIND OF, UH, SUPPORT THE CAUSE OF MEETING OUR SCHEDULE GOALS ON NEPA IS, UH, YOU MAY RECALL, YOU KNOW, THERE WAS A, A CONTRACT APPROVED, I GUESS I THINK IT'S BEEN A COUPLE OF MONTHS NOW THAT WE CALLED IT THE 1 39 J CONTRACT, BUT SO THERE'S SOME, AGAIN, STAFFING RESOURCE SUPPORT FOR FTA, UM, TO HELP FACILITATE REVIEWS, YOU KNOW, ON THE SCHEDULE.

SO, RIGHT.

SO THAT'S HOW WE'VE KIND OF THOUGHT ABOUT THOSE.

OKAY.

BUT THERE IS ALSO COMMUNITY, UM, AND THE FEEDBACK THAT WE HEAR, OKAY, UM, YOU KNOW, WE ARE FINISHED WITH SCOPING.

WE WILL BE IN, I MEAN WE'RE ALWAYS KIND OF OUT THERE TALKING TO FOLKS, BUT THERE'LL BE A MORE FORMAL, EXCUSE ME, PUBLIC COMMENT PERIOD FOLLOWING THE DRAFT DAS AND WE DON'T KNOW YET EXACTLY WHAT WE'LL HEAR AND WHAT, UM, YOU KNOW, THE APPROPRIATE RESPONSES.

SO THAT'S ONE TOO WHERE, UM, YOU KNOW, WE ARE PLANNING FOR, UM, HAVING APPROPRIATE TIME PERIODS, UM, BUT IT'S JUST SOMETHING THAT YOU DON'T FULLY CONTROL.

RIGHT.

OKAY.

SO GOT IT.

NEED, BUT A ROD WE'RE LARGELY IN CONTROL OF, BASED ON THE DESCRIPTION YOU JUST GAVE, NOT ENTIRELY, FTA HAS A ROLE, PUBLIC HAS A ROLE, BUT WE'RE LARGELY, AND THAT'S ONE OF THE FIRST ONES TO GET US TO 2027.

WHAT ELSE COMES AFTER THAT IN TERMS OF LIKE US UNDERSTANDING THE THINGS THAT NEED TO GO A CERTAIN WAY FOR US TO HIT THIS DEADLINE? JUST SO WE UNDERSTAND LIKE WHAT DEGREE OF CONFIDENCE WE CAN TALK ABOUT 2027.

OKAY.

UM, SO TO SPEAK TO THIS MILESTONE OF FINALIZING THE FEDERAL FUNDING AMOUNT, WHICH IS WHERE WE WANNA BE, IT JUST INCREASES OUR CERTAINTY, UM, YOU KNOW, IN THE SCHEDULE, YOU KNOW, THE COSTS.

OKAY.

UM, AND SO WHAT DO YOU NEED TO GET THERE? I'D SAY, WELL, YOU KNOW, WE NEED TO HAVE A CERTAIN LEVEL OF ENGINEERING SO THAT WE HAVE ENOUGH CONFIDENCE OR AN APPROPRIATE LEVEL, I GUESS, OF, OF CONFIDENCE IN OUR COST INFORMATION TO, UM, BE ABLE TO AGREE WITH AND, AND SPEAK WITH FT A ABOUT THAT.

AND SO THAT'S ONE OF THE REASONS WE'RE PURSUING, UH, ENGINEERING SUPPORT TO CONTINUE THAT WORK TO PUT US IN THAT POSITION.

MM-HMM, .

OKAY.

SO I KNOW WE'RE GONNA TALK TO LINDSAY ABOUT THAT SHORTLY.

UM, BUT AGAIN, WE SHOULD BE LARGELY IN CONTROL OF THAT.

WE HIRE HIM ON A CERTAIN DAY.

WE'VE CLEARLY GOT THE FUNDS AVAILABLE TO DO THAT.

NOW THEY MAY ENCOUNTER SOME COMPLICATIONS AS THEY START TO MOVE THROUGH ENGINEERING THAT THEY DIDN'T ANTICIPATE PREVIOUSLY.

THEY WOULD SAY, OH, THIS IS A LOT MORE COMPLEX THAN WHAT WE THOUGHT.

BUT IN LARGE RESPECT, WE'RE SORT OF IN CONTROL OF THAT.

WE HIRE 'EM IN A CERTAIN TIMEFRAME.

LINDSAY HAS A GOOD SENSE OF HOW LONG IT TAKES TO GET TO 30% OF ENGINEERING AT THE POINT AT WHICH YOU WOULD LET A CONTRACT.

UM, SO AGAIN, LARGELY WITHIN OUR CONTROL, NOT ENTIRELY, THERE MAY BE SOME UNKNOWN COMPLEXITY, BUT LIKE, SO TO GET THROUGH TO THAT POINT, WE SHOULD STILL BE HOLDING OURSELVES PRETTY WELL ACCOUNTABLE FOR THAT.

MM-HMM.

.

YEP.

AND, AND SOME OF THE OTHER THINGS THAT WE ARE, ARE DOING IS THINKING ABOUT OUR, OUR RISK MANAGEMENT PROCESS.

UM, AND THAT WILL BE PART OF WHAT OUR DELIVERY PARTNER COMES ON BOARD TO HELP WITH, UM, TO, AND THEY'LL BE WORKING WITH FTA ON THIS TOPIC TOO, TO REALLY METHODICALLY GO THROUGH WHAT OUR RISKS ARE AND ASSESS THEM AND THINK ABOUT HOW WE'RE MITIGATING THEM.

OKAY.

UM, AND SO THAT'S AGAIN, HOW WE TRY TO PUT OURSELVES IN THE BEST POSSIBLE POSITION TO MEET THE SCHEDULE DATES THAT WE'VE LAID OUT.

OKAY.

SO IS THAT KIND OF THE ESSENCE OF THE PROJECT DEVELOPMENT PHASE THAT'S WOULD GET US TO THE START OF CONSTRUCTION BY 2027? IS THERE ANY OTHER MAJOR SORT OF CONTINGENCY FLOATING OUT THERE THAT YOU THINK IS A RISK FOR US ACHIEVING

[00:45:01]

THAT TIMEFRAME? UM, WELL, ANOTHER KEY KIND OF AREA OF WORK DURING PROJECT DEVELOPMENT, WE'LL BE KINDA WORKING WITH FTA ON THE RATING FOR THE PROJECT.

OKAY.

UM, SO WE'RE WORKING THROUGH THAT NOW.

OKAY.

DOING, AND THAT'S MODELING ANALYSIS AND OTHER TYPES OF ANALYSIS.

UM, WE ACTIVELY COORDINATE WITH FTA ON THAT TOPIC.

UM, WE WILL BE, UM, LATER IN THE YEAR SUBMITTING INFORMATION TO FTA TO EVALUATE OUR PROJECT IN ACCORDANCE WITH THE CRITERIA.

AND THAT AGAIN, WILL, WE'RE, WE'RE DOING IT IN TIMING TO HELP GIVE US MORE CERTAINTY AS WE GO FORWARD ON, YOU KNOW, THAT WE'RE GOING TO BE COMP, YOU KNOW, APPROPRIATELY COMPETITIVE FOR THESE GRANT DOLLARS.

OKAY.

IT, IT, YOU GO AHEAD.

IT, I GUESS THAT, UH, I'M CONVINCED THAT YOU ALL, OR DOES THAT MAKE SENSE? BUT WHAT I WOULD LIKE TO SEE IS, UM, SOME DIFFERENT SCENARIOS WHERE UNEXPECTED STUFF HAPPENS TO US.

UM, AND BECAUSE IT JUST DOES HAPPEN, UM, SO THIS, MY SENSE IS THAT THIS PLAN ASSUMES THAT IT GOES ON IMPEDED AND WE THEN GET DONE, BUT, BUT WE DON'T HAVE COMPLETE CONTROL OF OUR DESTINY.

THERE ARE OTHERS WHO WOULD WANT TO STOP US, FOR EXAMPLE.

SO WE, I THINK WE NEED TO, THERE ARE SCENARIOS NEED TO INCLUDE WHAT COULD HAPPEN TO IMPEDE US AND WHAT WOULD BE THE CONTINGENCY PLAN THAT WE DEVELOP TO KEEP MOVING FORWARD.

UM, BUT THAT I WOULDN'T WANT TO BRING MYSELF TO THIS SCHEDULE WITHOUT KNOWING WHAT THAT WE HAVE CONSIDERED WHAT COULD IMPEDE US.

AND WE TO DEAL WITH THOSE.

UH, UM, JUST AS A MATTER OF DISCUSSION, UH, WE HAVE, WE HAVE HAD THIS CONVERSATION AT THE, AT THE COUNTY CONTINUOUSLY.

AND UH, AND WE HAVE GOT A TRACKING SYSTEM THAT WILL TAKE YOU BACK TO OUR 2011 BOND, UM, APPROVALS.

AND THEN, AND THEN 17 AND THEN 23.

AND ALL OF OUR PROJECTS THAT ARE, THAT ARE COS AS WELL, OUR CERTIFICATES OF OBLIGATION.

AT THE END OF THE DAY, WE, WE HAVE A TRACKING SYSTEM.

UH, PART OF IT IS INTERNAL STAFF, PART OF IT IS A CONTRACT THAT WE EXECUTED.

WHENEVER WE ARE PUTTING A BOND OUT, WE HAVE GOTTEN MORE THAN A BILLION DOLLARS WORTH OF PROJECTS SCOPED, BUT THEY'RE NOT ALL FIRST PRIORITY PROJECTS.

SO WE GO THROUGH A COMMUNITY PROCESS TO SELECT, BUT AFTER THEY'RE SELECTED AND AFTER THEY GO THROUGH OUR, OUR, UM, ELECTION PROCESS, THEN YOU CAN KNOW NOT ONLY THAT A PROJECT HAS BEEN SCOPED OUT, BUT WHAT PHASE IT'S IN, WHETHER THERE'S STILL PLANNING LEFT TO DO, WHETHER IT'S BEING IMPLEMENTED, UH, WHETHER IT IS SUBSTANTIALLY COMPLETE, THE LEVEL OF COMPLETENESS AND THEN CLOSURE.

SO IT SEEMS TO ME THAT, YOU KNOW, THERE, THERE ARE, THERE ARE A NUMBER OF MODELS THAT ARE OPERATING IN THIS MARKET THAT GIVE YOU THE TYPE OF INFORMATION THAT YOU WANT BECAUSE WHAT WE WANTED TO HAVE WAS ENOUGH DATA ON PROPOSED PROJECTS, UH, TO MAKE, NOT ONLY TO MAKE KNOWN GO NO, UH, KNOWN, UH, GO NO GO, UM, DECISIONS, BUT ALSO, UH, TO MAKE SURE THAT WE ARE IN A CONTINUOUSLY IMPROVING PROCESS.

UH, MAKE SURE THAT THINGS ARE AT THE RIGHT PLACE OR, OR THAT THEY'RE STILL OUR PRIORITIES.

OR IF WE FIND THAT THE CITY IS DOING SOMETHING SIMILAR BUT NOT THE SAME SCHOOL DISTRICT, UM, WE WANNA MAKE SURE THAT WE, WE KNOW WE'RE WORKING WITH, WE HAVE FLEXIBILITY TO MOVE AROUND IF WE NEED TO.

BUT THAT SYSTEM ITSELF, UH, HAS BEEN A REVELATION.

YEAH.

YEAH.

I JUST, SO AGAIN, GREAT CONVERSATION.

THIS IS EXACTLY WHAT WE WANT TO BE, YOU KNOW, HAVING A DIALOGUE ABOUT.

I THINK IT WAS IMPORTANT THOUGH, AT THIS MOMENT, UH, AS WE KICK OFF THE PROJECT DEVELOPMENT PIECE OR, OR INITIATE THAT, IT'S THE NUMBER ONE QUESTION THAT I GET THAT A LOT OF US GET, RIGHT? WHEN ARE WE GONNA START CONSTRUCTION? WHEN ARE REOPENING? SO THE LABELING, THIS IS IMPORTANT AND IT'S AN INITIAL PLANNING SCHEDULE.

I THINK BOARD MEMBER GARZA, AS YOU TALK ABOUT, THERE ARE, THERE ARE DIFFERENT PATHWAYS.

UM, AND WE HAVE TO ACKNOWLEDGE THAT THERE ARE, THERE ARE DIFFERENT KIND OF OUTSIDE INFOR OUTSIDE INPUTS TO THIS.

SOME OF THEM ARE LOCAL.

UM, WE HAVE A LOT OF, WE HAVE A LOT OF WORK TO DO JUST TO KEEP THE PLANNING GOING LOCALLY WITH OUR PARTNERS AND WITH THE REST OF THE COMMUNITY.

AND THEN A BIG ONE ON THERE THAT JEN HAS ON THERE IS THE FEDERAL PROCESS AND SPECIFICALLY THE FEDERAL FUNDING PROCESS.

I THINK, I THINK WE CAN ALL ASSUME THAT WE ARE NOT THE ULTIMATE PARTY RESPONSIBLE FOR, UH, FOR, UH, THE FEDERAL FUNDING OF THE US GOVERNMENT.

AND SO I THINK WE WANNA MAKE SURE THAT WE'RE, WE'RE WORKING, WE UNDERSTAND FT HAS BEEN GREAT IN BRINGING US ALONG IN THAT PROCESS.

SO THERE ARE A LOT OF FACTORS.

THE IDEA THAT OVER TIME AS WE CONTINUE

[00:50:01]

TO HONE DOWN THAT SCHEDULE, UM, AND THEN EVENTUALLY CREATE A FINAL SCHEDULE THAT GETS THAT ACCOUNTABILITY METRIC THAT WE ALL HAVE TO LIVE WITH.

UM, AND SO IT IS A PROGRESSION.

I THINK YOU'LL HEAR THAT WORD A LOT TODAY, THIS IDEA OF PROGRESSION, PROGRESSION THROUGH OUR DIALOGUE AROUND SCHEDULE, OUR PROGRESSION AROUND OUR COST INFORMATION, OUR PROGRESSION AROUND OUR DELIVERY MODEL.

UM, BECAUSE WE WANT TO CONTINUE TO ROUTE THAT SO WE CAN GET IT DOWN.

SO, BUT IT IS A, THERE ARE, THERE ARE A LOT OF INPUTS EVEN UNDERNEATH THESE THREE BUCKETS THAT, UM, I THINK THAT CONVERSATIONS THAT WE KEEP HAVING WITH THE BOARD AND WITH YOU PUBLICLY.

YEAH.

I MEAN, AND WE'LL GET TO THE FUNDING PIECE, BUT I KNOW THOSE ARE THE NEXT ROUND OF SLIDES.

BUT IT SOUNDS TO ME, JIM, THAT LIKE, THERE'S A RELATIVELY HIGH DEGREE OF CERTAINTY AROUND YOU, YOU KNOW, CERTAINTY THAT LIKE A HIGH DEGREE OF CONFIDENCE IN 2027 BEING A GROUNDBREAKING YEAR FOR THE AGENCY BASED ON YOUR EXPERIENCE, BASED ON THE FT A BEING A GREAT PARTNER TO DATE AND ANTICIPATING THAT GOING FORWARD, ALL OF YOU'VE ALLOCATED, YOU KNOW, HOW LONG THESE THINGS TAKE, YOU KNOW, WE BUILT IN APPROPRIATE AMOUNT OF TIME TO ACCOMPLISH THOSE OBJECTIVES.

AND SO THERE'S LIKE, THAT'S SOMETHING THAT WE SHOULD BE ABLE TO FEEL AND TOTALLY ACKNOWLEDGE THAT THERE ARE A BUNCH OF UNKNOWN CONTINGENCIES, BUT AT SOME POINT YOU HAVE TO EXPRESS CONFIDENCE.

AND THEN IF A CONTINGENCY HAPPENS, YOU KNOW, YOU JUST TALK ABOUT IT PUBLICLY AND YOU KNOW, WE ADDRESS IT AND HOPEFULLY PEOPLE WILL UNDERSTAND THAT IF IT WAS SOMETHING COMPLETELY OUT OF OUR CONTROL THAT, YOU KNOW, WE'RE GONNA DO OUR BEST TO MITIGATE ITS IMPACT TO THE SCHEDULE.

BUT YOU HAVE A MODERATELY HIGH DEGREE OF CONFIDENCE WITH THE EARLIER OF THOSE TWO DATES, WHICH ARE SIGNIFICANT DATES, OBVIOUSLY, YOU KNOW, CONSTRUCTION AND RIBBON CUTTING, FAIRLY HIGH DEGREE OF CONFIDENCE.

WELL, I, I THINK WHAT WE DO IS WE TRY TO PLAN OUT THE SCHEDULE, UM, AND TO THE BEST OF OUR ABILITY, UNDERSTAND WHAT THE RISKS ARE, WHAT COULD GO WRONG, , AND WHAT CAN WE DO NOW TO PREPARE FOR IT, AVOID IT, YEAH.

ET CETERA.

UM, SO THAT'S HOW WE THINK ABOUT IT.

OKAY.

WE, YOU KNOW, THERE COULD BE SOME THINGS THAT HAPPEN AT THE FEDERAL GOVERNMENT LEVEL THAT, YOU KNOW, WE RESPOND TO.

UM, AND PART OF OUR STRATEGY THERE IS LIKE, WE'RE JUST A VERY AGILE ORGANIZATION, YOU KNOW, AND WE HAVE TO BE, WE HAVE TO RESPOND TO CONDITIONS.

YEAH.

UM, AND WE'RE ALSO OPEN TO INPUTS.

AND THAT'S ONE OF THE THINGS WE'RE LOOKING FORWARD TO WHEN, UM, BRINGING ON A DELIVERY PARTNER TO JUST HAVE ADDITIONAL, UM, FOLKS WITH EXPERIENCE WITH THESE KINDS OF COMPLEX PROJECTS TO HELP VALIDATE OUR SCHEDULE INFORMATION.

UM, SO WHILE WE DO HAVE CONFIDENCE IN IT AND LIKE WE'RE PUTTING IT OUT THERE, WE'RE TRYING TO UNDERSTAND THE RISKS AND DO WHAT WE CAN RIGHT NOW TO MAKE IT HAPPEN, UM, WE'RE ALSO GOING TO BE CONTINUALLY EVALUATING, YOU KNOW, THIS SCHEDULE, UM, AGAINST CONDITIONS AGAINST NEW INPUTS AND DATA THAT WE HAVE.

UM, AND, YOU KNOW, WE'LL ALWAYS KEEP YOU IN THE COMMUNITY INFORMED IF THERE ARE ADJUSTMENTS.

UM, BUT IS THAT AN, IS THAT, YEAH.

YEAH, THAT'S, I MEAN, UM, UH, THANKS.

I TOTALLY UNDERSTAND THAT.

I RESPECT IT, YOU KNOW, HAVE A SENSE OF OUR DEGREE OF CONFIDENCE AROUND 2027, WHAT SOME OF THE MAJOR RISK FACTORS ASSOCIATED WITH ACHIEVING THAT DATA ARE, YOU KNOW, IT'S DEFINITELY, WE PUT IT OUT THERE PUBLICLY, IT'S, YOU KNOW, WE'RE NOW SHOOTING FOR THAT AND, YOU KNOW, UM, COMMITTED TO TRYING TO GET THERE SUBJECT TO WHATEVER MIGHT HAPPEN THAT'S UNFORESEEN.

YEAH.

AND I, AND I APPRECIATE THAT WE'RE NAILING ON A DATE.

I MEAN, IT'S A, IT IS OUR NORTH STAR, RIGHT? AND I THINK THAT EVERY GOOD ORGANIZATION HAS A STRATEGIC PLAN.

WE HAVE TO WORK TOWARDS THESE GOALS.

AND I DO THINK ALSO THAT WE HAVE TO HAVE THE ABILITY TO HAVE SOME PILOT PROJECTS AHEAD OF TIME TO, TO HAVE THOSE LESSONS LEARNED AND WHERE WE'RE GONNA BE DEALING WITH.

SO I THINK THAT'S GONNA BE FOLLOWING UP IN YOUR DISCUSSION.

BUT ONE OF THE THINGS THAT YOU MENTIONED JEN TOO, IS THAT THE FDA RATING, AND WHEN I MET WITH YOU, YOU MENTIONED SOMETHING ABOUT, YOU KNOW, LIKE WHAT ARE THE TIERS OF THAT RATING? HOW ARE WE GONNA BE GRADED AND HOW DO WE COMPARE? BECAUSE THESE ARE VERY COMPETITIVE FUNDS.

DOESN'T MEAN THAT JUST BECAUSE WE FOLLOW EVERY STEP THAT GUARANTEES US THAT WE HAVE THE FUNDING.

SO THAT'S A MAJOR CONTINGENCY.

I MEAN, WHAT HAPPENS IF WE DON'T HAVE THE MATCHING FUNDS FROM FT? I HOPE THEY'RE NOT LISTENING, BUT WHAT HAPPENS? THEY'RE LISTENING, BUT, AND THEY REALLY GREAT CANDIDATES RECEIVE THE MATCHING FUNDS.

BUT WHAT IF, RIGHT?

[00:55:01]

WHAT IF, I MEAN, I DON'T WANNA TAKE ANYTHING FOR GRANTED, BUT WHAT IS OUR, WHAT ARE THE MI AGAINST? WELL, AND THAT'S SOMETHING THAT WE'RE WORKING ON RIGHT NOW, REALLY LOOKING AT HOW WE DO RATE AS IT WERE, UH, AGAINST THE CRITERIA.

AND THAT'S SOMETHING WE'VE ACTUALLY BEEN LOOKING AT FOR A LONG TIME, FOR, FOR YEARS TO MAKE SURE THAT WE ARE YOU, YOU KNOW, ADVANCING A PROJECT THAT CAN BE SUCCESSFUL.

MM-HMM.

, UM, IN, IN THE COMPETITION FOR THOSE FUNDS.

UM, AND YOU KNOW, THAT IS BASED ON A LOT OF LIKE THE RIDERSHIP, UM, MM-HMM, , UH, SORT OF THE, THE COST BENEFIT, UM, OR THE COST EFFECTIVENESS OF, OF THE PROJECT.

AND SO THOSE ARE THINGS THAT WE'RE CONSTANTLY EVALUATING.

UM, AND OUR WORK WITH THE CITY ON THE CODE AMENDMENTS THAT ARE ONGOING AND LAND USE THAT, UM, ALSO I KNOW PRESENTS A VERY POSITIVE STORY TO FTA ABOUT, UH, ORGANIZATIONS WORKING TOGETHER, UM, TOWARDS COMMON GOALS THAT, YOU KNOW, AND MUTUALLY REINFORCING POLICIES.

UM, I'LL SAY ALSO KINDA THE WORK BEING DONE ON SOME OF THE FIRST, LAST MILE PLANNING, ALSO VERY HELPFUL TO THE PROJECT.

SO WE ARE PUTTING ALL THOSE PIECES IN PLACE, YOU KNOW, TO BE SUCCESSFUL.

GREAT, THANK YOU.

AND THAT, AND AGAIN, BACK TO THAT QUESTION ABOUT THE FDA RATING, THE TIERS, CAN YOU JUST EXPLAIN TO US WHAT ARE THOSE THREE TIERS AND WHERE NORMALLY ALL AGENCIES KIND OF LAND? AND SO, AND BY TIERS DO YOU MEAN LIKE THAT WE'RE RATED LOW, MEDIUM.

OH, MEDIUM HIGH.

MEDIUM, MEDIUM HIGH, MEDIUM LOW.

YES.

YES.

SO THAT'S THE RANKING.

AND SO THERE'S A LOT THAT GOES INTO THAT.

AND THEY'RE MEASURING OUR FINANCIAL PLAN AND, UM, OUR FINANCIAL RESOURCES, WHICH THOSE ARE STRONG ACTUALLY.

UM, THEY'RE ALSO LOOKING AT THE PROJECT ITSELF IN TERMS OF WHAT IS THE RIDERSHIP, WHAT'S THE CONGESTION RELIEF LOOKING LIKE? WHAT ARE THE ENVIRONMENTAL BENEFITS? THEY'RE LOOKING AT THE LAND USE, THEY'RE LOOKING AT THE LAND USE POLICIES.

UM, SO THOSE ARE THE PIECES THAT FOLD INTO, UM, OVER LIKE BEING AN OVERALL MEDIAN RATING, SAY, UH, WHICH WOULD BE OUR BASELINE MINIMUM CONDITION FOR WHERE WE WANNA BE IS A MEDIUM.

GREAT.

THANK YOU VERONICA.

I, I WAS, I WANTED TO TALK ABOUT THE ACCESS TO FEDERAL FUNDS AS WELL.

I WAS GONNA DO IT IN CONJUNCTION WITH, UM, YOU KNOW, OUR BUDGETING BIT OF IT.

BUT, YOU KNOW, TOTALLY AGREE.

IT'S LIKE CRITICAL.

IT'S IMPERATIVE.

IT'S LIKE A, ONE OF OUR MOST FUNDAMENTAL UNDERLYING ASSUMPTIONS.

'CAUSE I KNOW WE'LL GET INTO THE MONEY BIT.

WE'VE GOT FIXED REVENUE, UM, MORE OR LESS.

SO EVERYTHING HAS TO, YOU KNOW, FOR US TO COMPLETE OUR PROJECT HAS TO FIT WITHIN A BUDGET ESTIMATE.

A HUGE PIECE OF IT IS 50% COMING FROM THE FEDS.

WE KEEP SAYING THAT OUT IN PUBLIC, YOU KNOW, WE'RE ANTICIPATING 50% FROM THE FEDS.

LIKE, WHAT'S OUR DEGREE OF CONFIDENCE AROUND THAT? LIKE, WHAT, YOU KNOW, HOW DOES THAT WORK? 'CAUSE HONESTLY, I DON'T REALLY UNDERSTAND LIKE WHAT IS OUR DEGREE OF CONFIDENCE, YOU KNOW, WHERE ARE WE IN THIS PROCESS AT THE POINT WHERE THEY, YOU KNOW, SIGN SOMETHING THAT SAYS