[Music] [Music] [Music] [Music] [Music] wow and then I was behind oh was coming in been a littley we didn't get here too off this did [Laughter] we this is for your signature it [Music] is yes 11 is the last time withdraw okay who's drawing it uh I believe it's thank you that shotgun shell I thought you thring like 12 C right you can Bor it if you want it hey Nikki I'm going to pull C 30 okay thank you I've got a start c34 I'm on is for commissioner waitman is be a discuss C3 c34 okay thank you did you write that one down uh no I can't one way or the other uh commissioner waitman Y and be to discuss section so so the sidewalk Andre withdra from wal all the way up and stops our our support's and then on the south side it's just it's coming up from Grove and then it ends at the entrance to so it doesn't connect there's nothing that connects talking about putting a cross over here and a cross is being with so anybody from my community [Music] to go here here be but I think what the reason that they're doing the distance is there's a big Cur when coming across the other way just going to text it thank you cross slow down the curve if you go that way you're going to walk that way anyway the other sidewalk you need to cross if you're coming from here up there you need to cross back here there there's nothing I needed to sign as far as we don't have any proclamations oh wow I would have done International Day International Day no just International all these people here they got the sidewalk s all the way yeah okay so the sidewalk does from Walgreens all the way up here from yeah and then so right here is one of the crossings and then the other one was proposed to be America all right have the pictures that does have the pictur good morning I would like to call to order the Pasco County Board of County Commissioners meeting of uh 10:00 10:03 40 um here for February 20th 2024 at this time please uh silence all electronic devices and mute your microphones um please rise me for the invocation and the Pledge of Allegiance oh merciful Creator your hand is opened wide to satisfy the needs of every living creature make us thankful for your loving Providence and Grant that we remembering the account that we must one day give may be faithful stewards of your good gifts amen amen of the United States of America and to the Republic for which it stands indivisible andice Madam clerk would you please call the r District Two commissioner waitman present District three commissioner starky here District Four commissioner Bradford here okay thank you District Five commissioner Mariano here district one chairman Oakley here um now is the time for public comment uh citizens are given an opportunity to comment on any item coming to a future agenda and coming before the board of County Commissioners other uh business under the board's preview uh today's public comment will be handled as follows we will take public comment from those in person then we will take public comment for anyone on webx and then um uh those of course they have to be webx has to be on Q we request that when you address the board uh comments are made uh directed personally or not directed personally against any board um commissioner or team member but rather to the issues this provides mutual respect between board members and the public uh after stating your name and address for the clerk uh 3 minutes we be allowed for you be activated time after 2 minutes the single beat will indicate you have one minute left when you uh your time is up two beeps will sound and you should close your comments webx uh participants will be disconnected automatically when their time is up Madam clerk do we have people signed up to speak this morning at public comment Mr chair yes I have three people who signed up I have Trevor Macky followed by Gail Swedberg followed by Cheryl Orchard Mr Macky could come to the podium right to the podium uh please state your name and address okay please state your name and address for the record and then you can proceed okay my name is Trevor Macky I live on Ashen Avenue in Newport Richie I'm the vice president of the sunshine Park homeowners association and morning chairman Oakley and the other commission members here thank you for having me have a couple I'm new to Florida so I'm trying to learn how your government works down here and it's confusing at times we have a class for you we'll tell you about that so our homeowners Association presently has a issue I I should say the our homeowners association is in representative starky's commissioner area commissioner District okay so we presently have a code compliance issue before the courts and I must say Code Compliance has done their job efficiently and properly so I agree with there even though it's against us it's a tit fortat item um my observation of your code compliance here is that it is more um it's not proactive it's responsive and I wish that they had excuse me wish they had enforcement people and they had somebody who was observing we see them go by drive right by an observation that is totally in non-compliance but they do nothing you have to fill out a form and I think one of the problems with the form is it's not Anonymous yep I wish that it was could be kept Anonymous uh I would be nicer to have it that way this board would like it to be anonymous as well but proactive cfor and again I don't know how your system works here um Mr chairman why don't you um we'll get your information uh from my assistant Katie who will come out and meet you outside and I'll um enlist your help to have a more proactive code enforcement because I would like that very much and to help uh speak to our legislators who've made the law that we cannot be anonymous it's not a good thing um I don't know if we're we're trying this year to get that changed up in Tallahasse but I think we have we may have to wait one more election up there there's there is a there's a powerful person who changed it and when he's out we may be able to get that back so you got your assistant coming out and meeting hopefully she's hearing okay if you go in that door right outside you're aware of that so I I appreciate that and it sounds like there is some oh there's my code enforcement head over there there okay he'll take care of you yeah all right thank you sir and the other I've had diffic go go ahead well justess said if there are a lot of violations in your neighborhood the code enforcement could enact a sweep um that's something that he could talk about and they'll just go through the whole neighborhood which we've done in your your area before I've walked it before um and catch all the violations okay yeah yeah okay all right um and one other thing I I've had can you turn his time back on is you pause this time can you turn time thank you difficulty finding out who I should call is for whatever health issue code issue has been difficult is there a handout the list this is who you should call for health issues or animal issues is there that type of document for general public that's easy we have an app called my Pasco where you may be able to find all of that okay okay or our website right right yeah okay QA should be should refer it to whoever needs okay yeah you'll find all that information online okay and and one of the issu you okay one issue that president has informed me of that at one time there was a rental registry being created is there such a thing now or has it ever come to fruition so we created one uh it lies with our sheriff and we're supposed to be getting it back and doing something with it that's that's an administrator question so we'll we'll find out where that is I'll put that on my that is a difficult thing to Y to do with we're not supposed to talk back and forth so your times up sir thank you I appreciate the time here the gentleman in the back will help you there okay okay he's not going to escort me out is he no Gail schweder is next thank you you please state your name and address for the record and then you may begin yes my name is scale Swedberg 4917 Largo Terrace Newport richy that's in the Green Key area um ever since the storm in August I've been flooded twice one for the storm one for drainage storm water tide water rain water some of my neighbors have been flooded three times since the storm came through in August um not too long ago I'd say a year and a half two years ago we were promised or it was spoke about having some type of Maintenance in the area um funding for drainage did not come through and so nothing really has been done so one of my questions or concerns is when is that maintenance going to begin and what is going to be done on January the 9th I had called into public works Newport Richie and reported all of this at that time I got a work order number and I was told by Tanya that she was going to Market high level which I guess means it's a priority I've called back every week since to find the status and it was assessed but nothing has begun yet it was finally register well let me go back it I called it in on the 9th it was registered on January 11th so here we are February 21st and nobody has been out to assess you're aware remember the drains that we put in and everything residents have gone with their own rakes and everything trying to clear something out because you can't tell if that flap is open or shut okay so when it rains or when we have high tide we have had a lot more water than normal there are some drainage pipes on Del I was told by a resident who was not here today were cut I don't know when they were cut a lot of people are aware of it some not aware of it so I live at the te in the road Del pra and Largo terrorists so anything that comes down Del pra comes in my yard and my dispers there's only five houses on on Largo Terrace in the neighbors houses so again since the storm I was flooded twice and that was in the middle of reconstruction of my home and some neighbors three times so not only one flood claims some of them have two flood claims now my mortgage because of my insurance in April is going up $457 a month my mortgage went from $697 to $1,155 I have to move I'm a good resident I'm a good person to have in the community as long as as along with all my neighbors you know we want something done there's been people that have been working on this for years so I appreciate your time okay and please consider everything I said about maintenance there's a gentleman in the back of the room with the help you matter of fact I'm sure maybe with you and Cheryl as soon as this as soon as maybe they get they get in speaking but we did get funding in place uh next door but we I know we're trying to work with the city as far as to clearing out their drainage because it connects to our drainage so Branford if you could after Mrs orent in there's a gentleman in the back back and also just one quick last comment what happened to the $2 million That was supposed to be going for the Green Key dat that's said so we did get funding right beside where you're at so we're trying to incorporate something together we're trying to work with DOT for up the street a little bit as well just been a long time I should have had maintenance prior to all this I agree it's a lot okay so with Jason right in the back yes' thank you okay all right thank you thank you um the next person signed up is Cheryl Orchard followed by Cindy scarda followed by Kathy Julian good morning morning Commissioners thank you for letting us get up and speak this morning I'm going to turn you some books name and address please 6719 Manor Beach Road Newport Richie Florida okay I have some booklets because there's no way move to receive and file second got a motion second all those in favor roll call vote District Two commissioner waitman hi District three commissioner starky hi District Four commissioner Bradford Comm uh District Four commissioner Bradford we're having trouble with it okay District Five commissioner Mariano hi district one chairman Oakley I motion passed okay I made these booklets up because there's no way I could cover what's been going on since 1994 the problems in there the lack of followup we've gone to meetings we finally got $2 million from the legislature money which is not grant money it's legl for drainage we were told that in 2023 it would start but would not be finished till 2024 are you speaking of Green Key Green Key okay now on the south side of Green Key the city is going to put 66 tow houses I don't know how they're going to bring the dirt in they're not going to bring it through sea Forest this is a sample of what our roads is like this is what we travel on every single day they fix the flap behind 6647 in 21 it was sent from we had Association in there in 1994 asking for it to be fixed that flat stayed broken for 26 years that Bayou flooded our entire neighborhood we higher on Manor Beach and the reason we're higher is cuz when the city come in to put sewers in they could if you walk that street I invite everybody to come look on the corners of Green Key and Largo Terrace they've got Lime Rock they got so much lime rock that they just brought the dirt up higher My Neighbor Next Door is elevated her front yard's a swimming pool has been since that's happened when she asked the county to bring in dirt they said no you're going to run cause flooding on somebody else now when the electric company come in they brought some s in which helped some but all that water floods her driveway and has since they come in put those sewers in in 9 just after 93 we're underwater we're losing neighbors because they have to keep going on their insurance we all know what happens there after a couple floods what they do to them they condemn the houses they have nothing left or they raise the insurance so much that they're on an income of under $2,000 and it ends up costing them almost 122 or $1,300 without utilities and food to eat how do these people survive then we have the llc's come in there they don't maintain the properties that are there the sheriff's office we never see a sheriff's office in there anymore especially since the counties took over the jails we get nobody we're hanging out there with all the homeless people they are sleeping under our porches had a kid under my back porch with a hatchet I called the police the police said they're gone we can't do anything I said don't you think you should call DCF and check and see if that child's endangerment at 1:30 in the morning this is what we live through every single day and this is a piece of the road yeah and now if they bring that 66 tow houses in there that's going to bring more water because the 66 what they put on the corner of Manor Beach they didn't finish the sale so now instead of the water coming up halfway in the driveways from the beginning of Manor Beach all the way to Largo Terrace that water goes up to their door threshol if it don't go inside your time's up manam thank you thank you have a nice day I invite you to come to our Branford there's someone back there talk to her Branford if you would get with go with Jason as well and talk this thing through a little bit because you know the legislature when they a lot money they want to see something done with it quick so we need to get rolling on it okay thank you next up next up is Cindy Scara name and address for the record and then you may proceed with your my name is Cindy Scara and I am at 29157 coiti Lake Drive San Antonio Florida um I as a concerned citizen um um I'm very uh upset about that live local act and how it's going to be impacting uh our County here uh Seth Whitman was very uh good at speaking at our Wesley Chapel Republican Club meeting I'm Secretary of that club but I also want to bring attention to the board some other bills that are coming down from the Senate one is Senate Bill 1628 and one is Senate Bill 1624 that continues to undermine our local autonomy and it also jeopardized environmental Integrity if you look at valua County they're battling these bills because they want to bring in these fuel tanks 20 million gallons of gas uh some of these tanks are 40 foot tall uh they're going to be built next to 2 miles from residential areas um they're calling them fuel farms and resiliency facilities but I think it it impacts all Floridians and it will come to impact Us in Pasco County because it continues to erode our citizens um property rights by undermining our County Commissioners our um Master plans I was up in Wisconsin in our small town I was a town board supervisor I was very involved in zoning very involved with helping write our own Master plans but these bills undermine density height requirements can change the total uh trajectory of neighborhoods and I think it's a continual assault on our property rights as Citizens and also our right to be locally represented by you it it really takes away your rights as County Commissioners to do your jobs and to do the jobs that everybody in this room have elected you to do and that is to represent our interest not to have some state legislators legislating what happens in our very own communities as far as our property rights so I think you as a board should be proactive not reactive and really looking at some of these other counties and what they are experiencing due to some of this proposed legislation these fuel farms and that that company is looking at five to seven other locations throughout the state so um I'm appalled that we we have no say in density we have no say in these developments that impact our rights our homes our families our children our neighborhoods uh it's appalling to me so that's I hope you're proactive on these bills I do have an article that I would like to I only copied one so I'd like to leave it for S um but as a board I would move to rece file second not reactive by roll call vote well thank you thank you for comments and certainly appreciate what you've commented on today District Two commissioner waitman hi District three commissioner starky hi District Four commissioner Bradford hi District Five commissioner Mariano hi district one chairman Oakley I motion pass 5 Z okay next person the last person I have signed up is Kathy [Music] Julian good morning everyone um my name is Kathy Julian and I live at 10232 worthy lamb Drive where L way in Newport Richie and I wanted to say one thing that I noticed driving in here great use of a building that was empty for a very long period of time and I see you moved the building into there great to see a building being repurposed rather than torn down or new structures being put up that's great I wish that um some of these people with all their um car washes would look around and go how am I going to make money with this car wash that I haven't even Broken Ground on yet I know Seth is aware of it because I heard Seth speak also on the live local and I just want to say I think Seth is doing a great job um I've heard him speak a couple times anyway the reason I'm here to speak this morning is um I have a resolution um that was prepared by um another organization in the state and they're trying to um present it to every Board of County Commissioners asking um for a resolution calling for the additional measures to secure the border and stop the invasion of our country and the transnational Narco terrorist criminal organization activity and protect our communities from imminent danger I hear from people every day how scared they are about what's going on and you know you read on social media everybody talks about the homeless people they're not homeless people like we used to call bums these are scary homeless people and um we need to do something about it and this is um an attempt to get all the counties to speak up and speak in Unison so possibly something can be done I do have five copies one for each of the Commissioners move to receive and file second motion second by rall vote District Two commissioner waitman I District three commissioner starky I District Four commissioner Bradford hi District Five commissioner Mariano hi district one chairman Oakley I motion pass 5 Z this this was actually my commissioner and the other thing I wanted to say was um you know I always read on social media people say that Pasco County is worst and all that stuff and I I always attribute that and I always say your people that have never traveled because you haven't been to other places you're just very small-minded when you feel that way but then in this in this um in this resolution it says in here in 2023 Pasco and penel County which is District Six for the legal um reported the greatest number of De total deaths from fentanyl poisonings I guess that's in the state that's really scary cuz we're small town it shouldn't be happening here and it's not your fault but um I'd i' like you guys to put your voice behind this Proclamation thank you thank you for your comments is that the last person sign Mr chair that's the last person signed up call anybody web no one's on WebEx no one on WebEx anyone in the audience wish to speak that did not sign up come forward state your name and address for the record good morning Commissioners I'm John Michael Mo and the president of the Pasco County Professional firefighters it's always a pleasure to come before you when giv the opportunity to recognize your ongoing efforts to support the brave men and women of Pasco County fire rescue today on your consent agenda as item c18 is the ratification of the new collective bargaining agreement between Pasco County and a Pasco County Professional firefighters supervisory unit and we are proud to report that the agreement achieved overwhelming support from our Battalion Chiefs and shift commanders I'd like to take a moment to thank the County Administrator the assistant County Administrator for Public Safety JJ Murphy director hitzman Chief Perez and assistant chief Ryan Gwen for their commitment to getting this agreement finalized in just a few short months their collaborative and compromising attitude toward this process is always greatly appreciated the highlights of this agreement continue to build upon the idea of a more proper work life balance prioritizing the mental and physical health of our firefighters leading to long and healthy careers for our members so thank you again for leading by example and for your support of the new agreement thank you thank you for your comments is there anyone else in the audience wish to speak this time if not we'll close P public comment we'll move on there's no resolutions today to be heard uh we'll move on to consent items I have a consent sheet side yeah I have uh c24 pull and and discuss c29 withdrawn c31 withdrawn c33 pull and Revis C11 withdrawn uh C 34 um discuss is any other items that the board wishes to pull at this time move approval of the remainder of the consent agenda okay I got a motion second and second uh by roll call vote District Two commissioner waitman I District three commissioner starky I District Four commissioner Bradford I uh District Five commissioner Mariano I district one chairman Oakley I motion pass 5 Z okay we'll start with uh pull and discuss is c24 C 24 Mr chairman yes so it's in uh my district here it's been a it's nice to see this project coming forward but there's a couple of points I want to bring out and I did talk to staff from before when they're setting up how this was going to be designed uh if we put the pictures [Applause] up as you see the line coming across from 19 from going from left to right there's a big pond that's there that's a storm water Pond that I'd like to get cleaned out and I've talked about it several times before uh we're trying to work find a way to get it done all the rainwater in that area goes into that pond so over the past 50 years tons of silt have gone in there and a heavy rain will tend to cause flooding in that area around it instead of being able to take the water in uh between the silt in there the uh de contaminants that are in there aren't a pleasant site it's a nice little area to kind of walk around and if I'm going to put a sidewalk around half of it I think we should put around both sides of it agreed is this uh in the city or is it in it's in the county it's in the county yeah it's in Jasmine Jasmine Lakes development the sidewalk project runs up down on through there's a school that's actually just to the north Day Spring Academy's uh elementary schools right above there uh so they they they would like to see and they asked for this when they got there a few years back to have it walk going in there for the residents to come back and forth do you say this is in a development no it's well Jasmine Lakes say it's already it's been it's around there but that's not a part of the actual property of the Jasmine Lakes it's not well we used to actually M Jasmine Lakes used to maintain it the civic association went defunct but there's no CDD or anything else it's just an old development that's been there that doesn't have a CDD that's mandatory to join so anything that's out there be voluntary okay so we we have now taken over the maintenance of that whole area anyway and frankly if we do put the sidewalk around the whole area it's actually less grass to mow creates a better amenity for the area I do have a cost savings measure too that can be offset here uh if you look at the thank you very much Sonia uh if you look at the picture here it shows a the red line that's right there the sidewalk on the North runs from there all the way down out to Walgreens out on Little Road That Sidewalk may not need to be replaced um what are you talking about cuz I don't see a red line there's a little red uh dot there a Red Dot there on the left side of the screen oh the Red Dot says jasine on jasine Boulevard yeah so from right about that point there's a sidewalk that runs from there all the way down to Walgreens going to our right going to the right yeah so and and I'm not sure how good it is or how bad it is I've looked at it it doesn't look bad but there may be something we could say okay we don't need to do it there maybe we put it in the other side maybe it's only a 5ot sidewalk um also with this picture there's a crosswalk that's going to go at that r Red Dot there or even down closer to Maricopa Maricopa right after that there's a heavy turn that's here and there's been a there's a bunch of uh this a retirement home type thing assisted living facility that's there that has been let's say hit as it make the turn so I think of it goes back to where the neighborhood is uh the crosswalk probably there makes more sense as opposed to up the street further especially anyone going head the other way can just stay in that sidewalk so with those adjustments I don't think the thing needs to come back to us but I do definitely want to see the circle around the lake done and then let them go look at if do we really need to replace the sidewalk there and what the plan eventually will be I this this fall into your team Ranford so I see Nick urens in the room Nick sidewalk right there good morning good morning commissioner is Nick uren your County engineer yes and and yes we have spoken with commissioner Mariano and we are aware of these requests um just for context um I I want to say both that I really appreciate the investment that that the Commissioners make in the details of our projects to ensure that we are constructing the the the best infrastructure for our communities and then I also want to note that we are we have received a um a grant through the mo planning process a transportation Alternatives grant for this pathway it will be an 8 foot pathway all the way from US1 19 to um to Little Road and it will include crosswalks at particular locations that we will work out together with the the community and the Commissioner's Office U we are going to be using raised crosswalks along the corridor as a traffic calming measure to uh to ensure that the speeds within this community are appropriate for the character and the environment that we're seeking to create all right do we have funds to take care of this pond have that's more of a public works question that that's um I can speak to the pathway and uh and then Jason and Branford maybe can can chime in on the cost associated with maintaining the pond I know there's been discussions about that but I think they'll fill in the details better than I do Mr chair yes um so just remember that and I don't know whose responsibility this Pond is but this could be the hoa's responsibility and just because the HOA went under doesn't relieve them of the responsibility of that pond so we have tools because uh to to handle that it's called an sbu because I've had many in neighborhood come to me and say our HOA went under and you know we're supposed to take care of these ponds now we want to hand them to you and I no because there are many HOAs who are paying for for the amenities and the ponds and now you're going to ask them to pick up the ones who decided not to pay the HOA fee anymore I don't think I think everyone has a responsibility be on those citizens so we see this a lot in my district a lot on the on the west side when we have these older neighborhoods but um I'm I am all for that sidewalk going around that pond but as far as taking over any other responsibilities that is the neighborhood of Jasmine whatever because I think I saw they have a clubhouse down the street Clubhouse was when the club went under it was donated to the school okay I I thought I saw something down down on the right but anyway um that anything more than that I would say is responsibility of the homeowners living in there and I if you know I would encourage them to get together and that's a way to re kind of reestablish an HOA so um rrey can you come back and talk about this Pond or how we'll take care of this or is it our responsibility good morning P assistant County Administrator we have established that we have maintenance responsibility uh that pawn benefits the county in terms of storm water flowing of the properties in the road so so the team has been working in that area I think they've gone in there and maintain the grass and all that but that maintenance responsibility falls on us uh in terms of doing the work yes Public Works has the internal resources to get it done and the contract on hand to get it done I'm not sure of the schedule if Jason is here he can respond to that but yes there are plans to maintain that point okay if I if I could Branford you've got a phenomenal team I mean they they did project over in Gulf islands that uh There Was An Old Pond that was there that was like flooding out all around and that was one of our very successful storm water projects done at Ashwood by cleaning that whole Pond out what you do was you open the whole thing up and watching your guys in there with the Mucky mucks yeah I mean mmok right they get cleaned up they they did phenomenal I mean these guys are skilled and this is like an easy this is even easier cuz that one had like a cliff to go off this is like a simple drive in and go so I I know you guys can do it so rather than even spend an extra money on a contractor I think you get a team that could get that done yes have the in-house team the capability to do that in equipment to get it done okay okay um so let's get Nick back up on the podium here all right thank you so so Nick we and when we talked and obviously the conditions of Mo and of what the dot wants to do Etc they picked one side to the other side is that pretty much what what goes on that's that's correct I was going to make that point Mr chair just so that the commission understands we applied for a grant to construct the pathway from uh us19 to little the grant um specifi the location of the pathway and the grant will fund the cost for design and construction in that location if we want to do more than that and build additional pathway segments then that would have to be done with County resources and so I I don't have any problem with receiving commission direction to allocate additional resources but there will be a gap between the cost of the pathway and the addition segments that we would construct to close the loop around the circle around the lake so maybe if we looked at a little bit closer to like the the existing sidewalk that's already down on part of it if I didn't do all of that and I did the difference to what's around here because I think this is I mean to go tear up something and go put more asphalt down doesn't make a lot of sense if it's in good shape and again I want to check it out first and then if you have to do a a different section of it maybe the other side of the road whatever so be it but this is such a strong benefit and you get a school that's right there as well one person go one side the other side I I think it's it's a worthy investment to get done plus if we're doing the maintenance anyway if I've got an eight put path going around it that's a lot less mowing I got to do as well anyway so if the board would allow me to work with Nick work with do see if we can extend the grant out or come back with uh what the what the cost would be to go do it do it this way to do the balance on it we can do the balance let me see if I can go get the grant first with do I think I think there's a reasonable argument to get the whole thing okay all right you want make a motion or so I'll make a motion to approve with taking a further step with UT to try to expand the project a motion and a second by roll call vote District Two commissioner waitman hi District three commissioner starky hi District Four commissioner Bradford hi District Five commissioner Mariano I district one chairman Oakley I motion pass 5 Z all right Nick Branford thank you guys very much you are awesome appreciate all your great work okay c29 is withdrawn 31's withdrawn uh pull and revise is c33 good morning good morning Keith Wy director parks recreation Natural Resources Department I was I jumped up too quick there the flag football on uh Employee Appreciation Day kind of slowed me up that was I'm sure there's others that are feeling the same way this morning but uh uh so we had to modify the agenda MMO to remove the execution language and references to the original quote they weren't necessary so that is the that is the change in front of you move approval second motion second by roll call vote District Two commissioner waitman I District three commissioner starky I District Four commissioner Bradford I District Five commissioner Mariano hi district one chairman Oakley I motion pass 5 Z okay move to see C11 is withdrawn c34 discuss thank you chair that's mine okay key two for two so c34 uh there's two items on there but one one item Keith can go a little bit more detail at the corner of uh 52 and 41 so the southwest corner behind the gas station there's a there's a thousand plus acres uh old Florida farm and and we brought it forward we worked through this all last year to bring it forward to the El lamp board for consideration for a potential acquisition because it ties into the wellfields um and it's you know th a nice Thousand Acre track that just could tie in for so many benefit to the public and you know water and preservation but there's there's a couple of challenges with it and there's a there's a mitigation Bank on there on a piece of it but the what's the committee called Keith it's the environmental land selection committee so the environmental land selection committee voted they think the land is probably protected they voted not to add it to the list I disrespectfully disagree with their decision and this is no cost to the county we think to the Future on preserving tracks of land unless this uh Farm is on the list the county can't even have discussions about potentially acquiring it or finding a way to find a to make a public benefit out of it so I'm hoping the board will uh consider adding it to uh the eamp list there's no charge there's no fee it costs us nothing but once it's on that list it just gives the county the ability uh moving forward if there's an interest in finding a way to purchase that land for public benefit uh that the opportunity is there I just don't want to be I just don't I I I want to be careful because pieces of land are disappearing and just to have the option there I think would would be good so Keith the exact location of this piece so it is it's at the corner of 52 and 41 um on the uh East Side Southeast or Southeast side yes oh Southeast I thought it said Southwest that's the tibits property no it's on the other side the other side North Southeast I was thinking that was part of Swift I thought that was Connerton preserve yeah well it was it was a part of that original development yes and then well it's already a preserve is it the jail is here can you pull that up what's the yeah what's the U the property owner who is that conon con so there there's a principal owner group and then it also is actually owned uh and operated as an active uh Wetland Wetland mitigation Bank currently is that not the Connor preserve no that is not the Connor preserve so preserve is further East it's further to the east yeah you can see The Preserve is yeah no I can't this this preserve over here it's all this corner oh crazy this whole Corner no oh which way am I looking I always thought that was the per I'm looking to the east here if we have a yeah so there's so this is basically Mr starky this if you could see this is the Conor preserve here so that's the existing Water Management District property right the subject in question is I went to the ribbon cutting of that I always thought that was all the way across that was when Weatherford was in anyway the yeah the different different property that you're talking about but the the one that we're that's on the list today is uh again south of 52 and right next to 41 okay and I missed it it it's not on the list did the owners put it on no yeah so the process is it was nominated the environmental and selection committee because of the conservation easement that's required through the bank basically recommended not for us to pursue the acquisition uh I think with commissioner Whitman's referencing and he described the process very well once once the board so that's the required process is that we present the recommendations to the BCC for them for them to ultimately uh approve the action but once it's on the denied list staff cannot we can't we can't negotiate any further we can't explore options on what could or couldn't happen uh we've never actually pursued uh a bank like this before but once it's actually denied then we don't have the authority to even negotiate with the agent for the property so I should say there's no obligation either on either side uh with through this action can there be Trails on there yes so that's that would that's that's part of the discussion correct yes okay well I move to put it back on the list little more discussion go ahead um Keith if there's a wetland mitigation bank that means the property is going to be protected right yes correct it's never going to be developed well that'll be reflected in the value of the purchase why do we need for already protection that's to my next Point why do I want to spend money when I don't need to if I got the land protected the whole thing's about protecting land this is going to keep if we buy this land I can't go buy other land but the price could be very little so point I was going to make is the price could be different and so but right now we can't even have those negotiations so I think what what the commissioner is asking is is let's let's include it on the list let's have some talks we're not committing to purchase anything at this point in time right but we can't have the negotiations or the discussions on it to see if there's other things or price points that could be different unless it's on the list it's it's your pro it's the process it's the way the process is structured I understand but I mean just logically do I want to go down that road the other thing is if you have a wetland mitigation bank that means somebody who's trying to do some development if you have to have local mitigation this bank's already established I don't how many acres there are left but well that I want to really take that out of an option for somebody else coming around and and kind of devils in the details commissioner so I don't think that we're in the exploration I don't think we could even actually decommission the bank so you wouldn't close that down as as an option for for other development projects to use it as a bank I think quite honestly um and I got to be careful because again we at this point in time without having the authority uh from the board we haven't entered into serious negotiations because because of process we can't but as an example uh a possible outcome could be we could explore public use which currently right now on the Thousand Acres you have zero so that's just an option to consider and I think commissioner starky referenced um when you have something heavily encumbered like that it would reflect it would clearly be reflected in the actual Co the final cost as well you also would be picking up the liability of the bank that is for future maintenance that's also true and Keith I've got a phone call this weekend over Kent Grove we have property up over there and there's an access to a park that's right there y the is a such deplorable condition they can't get to it so that'll be one one of my asks coming up later on today hopefully or I'll give you time to look at it before I next bring it up next meeting but thank you so I mean we got to we got to still take care of what we've got but if I've got again a protected resource that's there um I'm going be very wary of it and frankly if there's value to the mitigation bank I'll flip the other coin if we can become the mitigation bank and make money on the other end of it that could be something to look at so for that I'll support taking a look at it further but again I don't want to spend money that's not going to really provide any extra benefit for us yeah commission mayor that's not the intent here this is just put it on the list and the opportunity may or may not be there for future Generations boards what you're talking about what have you so just to no harm and I thought to to get it on the list to take a look at um and uh it's it's there be being a Boy Scout if you will so putting it on a list that bind us in any way so yeah because there's a lot of particulars if you buy a property that's that's got this kind of banking it responsibility you have for it in the future and how much is actually how much is left to be purchased or what for a bank so be good to know all those things so correct yeah okay ENT you had a motion was there a second got a motion happily second okay uh by roll call vote District Two commissioner waitman hi District three commissioner starky I District Four commissioner Bradford I District Five commissioner Mariano I district one chairman Oakley I motion pass 5 Z thank you board members okay uh that's the last item I have on on the list so that will end the consent items we'll move on to our regular items are 38 morning Mr chairman P planning and economic growth um item P or R38 is going to be a discussion on draft policy pm31 standards for horizontal Apartments um recent in in various recent BCC meetings um the board has inquired on the status of development standards for new types of multifam products um that are often proposed through muds um in particular the subject of horizontal apartments and so today we're bringing forward a draft policy memorandum that's going to help guide the planning and economic growth staff to negotiate uh mpud conditions of approval to help deal with uh this type of product in the county uh on the overhead you'll see the areas of discussion for today that will be covered in the draft policy memo there's four particular items that require input from the board of County Commissioners actually three um but I'll list four and I'll explain why in a second a mandate for amenities for um horizontal Apartments uh per prior direction from the board of County Commissioners um the second one is is a clarification of the walkways and corridors between the fronts of each structure the third is addition to architectural standards for twostory structures and then the fourth item is uh clarification for platting for horizontal Apartments um and we'll I'll call them out as we make our way through the presentation here so we're going to start off with a definition these slides are full of words um I have them up there in case our uh friends and Neighbors at home want to uh see what's in the memo that's the top part uh my bullet points sort of summarize what the discussion is so we'll start off with the definition horizontal apartments are a type of built to rent multif family product that offer an alternative to Garden sty apartments and basically our the build rent horizontal apartment product is about 11 to 13 dwelling units per gross acre as compared to the Vertical Apartments the standard Garden style that you might see around uh the county which come in at about 15 to 24 dwelling units per gross acre uh the bill to rent uh horizontal apartments are not stacked units they're distributed horizontally across the extent of the property uh and as such they come in little little house looking like buildings that are about one or two stories tall with one to three bedrooms they'll be about the same size as any apartment unit and they're separated and they're separated that's correct they're detached got to be an a separation right there'll be a separation yeah right an air gap if you will right um they distributed the entire extent of the site and they often carry not often but always carry the same types of amenities as Vertical Apartments things like Lounge rooms pools so on and so forth um so that's the definition of what these are uh importantly and we'll come across this these are not single family detached products they're not single family detached products this is a multif family product because they're located on a single parcel of common own under common ownership as a typical multif family product would be uh organized and as a result these don't have any HOAs or uh cdds homeowners associations or Community Development districts because they are operated and managed by individual companies or management companies working with um this is where we're going to add um a mandate for amenities that all horizontal Apartments shall provide amenities this was provided in a Direction by the board of County Commissioners at the January 24 or excuse me April 18 2023 Board of County Commissioners meeting when we developed the policy guidance for platted build to rent developments um so in this paragraph of management is not there today but we'll we're going to add the Mandate for amenities uh for horizontal apartments in terms of the site planning requirements I have here uh not listed in bullet points but highlighted all of the different uh aspects that um need to be discussed so horizontal Apartments shall not be organized with more than three units deep from the parking lot this is a key uh facet of horizontal apartments that they uh do not have individualized driveways or individualized garages they are actually aligned on a parking aisle or or drive aisle and so you don't want more than three units deep off of that parking lot likewise you don't really want three housing units deep on either side of a linear Park uh after three units Things become a little bit more difficult to engineer but also from a resident uh perspective you know to carry your groceries uh that far down from the parking lot can be uh a little honorous um item C says 10 foot minimum walkway corridors this is one of the clarifications that we need uh from the board of County Commissioners the uh provision here talks about the walkway uh between the buildings so this could either mean the sidewalk to be 10 ft wide and then you have Landscaping further out with the doors Etc of each of the units or it's 10 ft front to front facade to facade um there was some discussion that this should be increased to 15 or 20 feet facade to facade um letter letter D there is to connect any available uh similar external grid networks so what we're talking about here is that each of these developments are going to have internal pedestrian and bicycle uh amenities uh walkways networks so on and so forth and that these should actually be connected to the to the countywide network that is beyond their property limits uh as I mentioned before horizontal apartments are not single family detached products because they do not have individual driveways or garages they are lined up on parking lots uh and then finally fgh and I are basically requirements to follow various land developmental provisions as they relate to the the vehicular areas the parking areas the drive ises and so on landscaping and so on and so forth a good example of this is on Fit 4 South Fit 4 on this side of for on yeah this side of 41 yes to the South I forget the name of that project but it's a very nice project and the homes are all concrete construction and very nice homes when you walk in them so as an example yes yeah um in terms of the dimensional standards uh these are some of the standards that we've worked with the industry stakeholders uh lot coverage should be limited to or excuse me building coverage should be limited to 55% of the total project area with building setback lines established from the external uh property boundaries front set back 20 ft side 15 rear 10 ft and then internal to the site building to building the minimum separation should be 10 ft maximum Building height should not exceed 35 ft which is approximately a two story structure uh and as I mentioned previously a 10- foot minimum building separation in terms of the architectural standards again slide full of words but the bullets on the side uh say it all this is these this is all language copied from policy memo 26 um which discussed the um single family residential lots lot sizes and allowances in mudds basically the monotony avoidance standards so this is all copy paste uh from that memo into this one to discuss oops to discuss how to avoid monotony Within These developments uh here one of the clarifications uh that we need from from the board today is uh to add an architectural standard that says that twostory structures uh should not be entirely um made of Stucco basically um uh and then finally plating and the live local considerations um that were uh that are included in this draft memo so as noted previously um we have answered the question as it relates to single family detached Bill to rent products and the definitive conclusion of the board was that these should be platted developments horizontal apartments are not platted developments uh excuse me they're not single family detached developments they are multif family products as such um the memo currently the draft memo states that these should not be platted for individual Lots as this would make this uh product type uh unfeasible uh to build however uh if this development were to be uh sold off in the future the state condo planting uh standards could be applied uh in this development and then finally the live local act considerations I haven't outlined all of the different Provisions that we already in including various projects in the memo uh for the purposes of time and and space but basically we're going to carry all of the provisions and considerations that we already make for live local uh into these types of products as well in the conditions of approval for muds lastly in terms of applicability basically if the if first round comments have not yet been received as of February 2024 2024 uh then these standards would be applicable U this has been the standard uh provision in past policy memo guidance so we're carrying forward here it's at the pleasure of the board if uh we want to make an adjustment to that applicability clause and then lastly this is just an example uh project this is still well station um this was approved Rec maybe about a year or two ago uh by the board of County Commissioners it was one of the first uh buil to rent horizontal apartment type of projects that the board saw this is over at uh on the at the southeast Corner basically not quiet at the southeast corner just a little south of it of Old Pasco Road and State Road 52 this development was a model by which we worked with the industry stakeholders to develop some of the standards that uh were presented today and that'll complete my presentation on the draft policy memo inviting comments from the board M sty um can you please go back to the list of the ones that you said we needed to discuss and you and I discussed some of these in our meeting um that we need to so um I think one one was the garage and and oh the spacing so can we go to that first one not a so when we were when we were reading that the okay uh 10t minimum walkway quarters between structures front to front so um we wanted to be sure that that there was an enough space between the buildings and it seems like one of the things we're discussing is that a 10-ft walkway or 10- foot from facade to facade right so it's going to be a 10 a 10- foot sidewalk or a 5ft sidewalk with Landscaping on each side what what the example I've saw this Ary was uh it had a walkway in it but it did have uh I think some Shrubbery on both sides of the walkway as it goes back well I think we need to set you know we need to be clear what we're asking for there I I think in in some of the uh product types that you can find on the internet by just going to their various web the various websites of these companies that build these they they tend to show uh a distance that appears to be 10 ft facade to facade with a 5ft sidewalk running down the center and a little bit of Landscaping on each side right and the doorways are sort of recessed into the buildings um so that the doors don't actually open out onto the sidewalks they're recessed in so they're they're never impeding the flow of that sidewalk okay I guess I guess when you're in an apartment because so these are what my husband and other people he could called that a deconstructed apartment building so I guess when you're in an apartment building and you're walking down an interior hallway which my daughter lived in starky ranch and there was an interior hallway this all concrete how far apart are those from one side to another I is there no minimum in design that those walkways within apartment buildings in law no well that's interesting that be a building code type of question Mr chair uh Roy major development services I think that that minimum is is by building code and the walkway minimums for building code and I think that's also going to vary per per construction project anywhere from 5T is the absolute minimum for a sidewalk and so for apartment I think that varies I think what we're going for here is facade to facade in the board's opinion is 10 ft a a viable number should it be you know more than 10t 15 ft facade to facade and again typically you're going to have a walkway down the middle so 5 ft down the middle and whatever remains will be in between the well I'm going to say it needs to be a little more because how you going to get any trees in there or I mean if you only have you're not going feet two and a half feet uh if you have a 5 foot sidewalk you're going to have 2 and 1/2 ft of dirt on one side and 2 and 1/2 ft of dirt on the other mulch I mean is it going to be is everyone going to have gutters are we going to require gutters and what what's going to grow in 2 and 1/2 ft so I think it's going to look like army barracks if we don't have a little more space little it's got to be a little softer well you won't I don't believe you're going to find trees like oak trees and things of that nature place in between apartment complex like that well you can have a well okay so if you think about it it'll grow bigger than that so uh can you go back to that picture that you had of the the other one I just don't think 2 and 1 half ft is Enough from the sidewalk to the facade the picture of the one that you said was the model oh yeah it's itn't built yet yes sir yeah you're creating allies with 5 foot wide that's more than 10t imagine a young family walking down that that path and then you get two families coming together yeah how's that going to work yeah how they going to pass slums of the future so if you change that that from 10 ft do you change that to 12 or 14 or even 15 you're going to change the number of units you can get per acre so yes it's going to it'll affect the density a little bit um right should still keep Big Trees in that walkway in between those apartments so right but this is one of the clarifications is sort of at the pleasure of the board to is 10 ft enough should we do 15 should we do 20 or another number chair yes thank you chair I'm not a big fan of this project I mean what do these sit on 25 30 Acres so it's just sprawling rental variously throughout Pasco County I'm no secret I'm a huge advocate for ownership and Home Ownership here there there's got to be like when we went through the the buil to rent exercise last year when when the product wasn't platted I'm I'm really stuck on having some level of platting on this type of product um because I'm nervous about what the when they're built they look nice but I'm nervous about the future I'm worried about the quality eroding away worried about the maintenance you know I'm worried about ownership as it changes hands because it becomes a portfolio asset and we have several of these projects all over the county and you know we we don't know I mean I appreciate him only being two stories but I just I'm I'm I'm not overly excited about about this type of product and large large amounts of rental generally so again I just think there needs to be some level of plat whereas condo plat or or you going to play house and then you need to follow our single family home guidelines so thank you that's it well I'm not I'm not in agreement with platting these this is I think there's a lot of people who would like to live like this oh yeah um I have a lot of girlfriends who we we we were going to do one at one time um and I think we sent the plat the plan to Sonia um I'm not sure what good resolution it is um but I do think that we're taking care of the rules by requiring if that there always be a property management company running the whole thing um when you get when you get houses that are bought by corporations on streets which we have a lot here I I I don't I think you lose the level of uh um um can you zoom zoom in more on the right so this was our um attempt at a what I thought was a very good quality live Lo um Rental Community this is not going to be built anymore so don't be freaking out over this but it was a very good design what I liked about this is the amount of open space that they had and um and the housing product is mixed so it's not every building does doesn't look the same as the one next to it you have some one stories you have some two stories you have some with garages you have duplexes you have quadr it's just a big mixture of product type so it's um not monotonous and frankly and everyone had a front porch so I'm sad that this isn't going to happen but um because I will tell you right now the money for this kind of product is is not there right now but I do so I do think you can design these in a um a nice nice way uh as long as we put some parameters in there and for me 10 ft from door to door I don't mind I don't mind it from side to side but 10 ft from door to door is just not enough um we got we got to get a little more huh what do you mean door to door well that's what it is right now side to fac side the front of a front of one of these to a front of one of these is 10t right now yeah well the product I've seen over on FID 4 um it was a very nice product I walked in it uh again it was all block construction 10t ceiling are you talking about the next Metro one no it's yeah that's the one I didn't I didn't like that that layout but it look very nice I mean if you were you know retire age or whatever and just you and your wife or something yeah and your dog because these are great for people who have pets they have amenity with a pool and the workout room and all that in that product so I hear that I thought it was a very nice product so very well built Mr chairman yes so let's say it is it's a very nice product right now right let's go 30 years down the road things may change Market drops all of a sudden it goes the other thing the other thing to think of is think about a senior right now if a senior owns his own their own house and they're homee it they're protected they know they can live there for a long time if the market like it's done in the past five or six years has gone through the roof where our our rental market is actually higher than Tampa all of a sudden what you've done and the prices go up on it those seniors very right there just like we saw the lady this morning is got to move out because of insurance now because of rent going up they're going to have to go so what's going to happen they're going to have to find somewhere else to go if if you have home ownership whether it be a town home or frankly a 45 foot lot it's a lot more for secure for people to either start their family or keep their retirement know they're in a secure place right now with and live local right we don't know what's going to happen yet right if that goes and they you know we got lucky with I think we did a good job fighting it up front uh getting the word out to kind of like create that awareness and we didn't have anything more than the two applications we originally had but what if next year you get 20 of these things coming in and they come forward and what if the legislature puts a clause in there that you can have all the internal components you want to protect yourselves from go and live local and the legislature wipes all that out and they change level you can't put that in that becomes in void now what have you got then now you keep on things up with rental properties it goes the other way I want to see people own their home I want to start the family well we're going to have discussion about our Surplus property here in just a little bit so I'm glad you guys feel that we should have home ownership but I'm going to tell you there are there are people who um say just move to the county they don't want to live in a third floor of an apartment complex they want to they have may have pets and they want to live in a community before they buy I mean I just met the president of phsc and he's renting before he buys I I have girlfriends and who have no kids have a lot of equity in their house um they they want to get their Equity out but live in a place that they feel is safe I think these are very safe and um are looking forward to maybe having this opportunity to live in a place like this so I think there's there's a market for it there a market out there for it I I I really do think there's a market for it young professional people who are working from home again who have pets that don't want to be in apartment complex so um we just have to put some guidelines around there to make sure what size what size property is this this is own well is it like a 20 acre piece or what yeah these projects typically come like 15 20 acres or so plus the the the the kind of desired spots are about 25 25 acres is is a sweet spot about 225 to 250 units is is typically what what they're going for yeah well the one I bested was was very nice I would not have mind living in that apartment complex I mean it was very nice walk in it 10 foot ceilings All Glass opening for the family room and the kitchen area and all you thought you were in a much bigger place than the th000 square ft so I I was really impressed with it and it was very well run because you could tell that with the pool and the facilities they had for for their residents so so so the questions we you wanted us to decide were one the space from door too right the width so I would say minimum of 15 ft 15 Mr chairman can I ask a question yes sir so I live when I did my safe homes when I put a new front door on I think the way it was was my door at the time was an in folding door and hurricane codes was better if it was a door that went out that's correct okay so you're taking these doors in is it going to make it these things less moreable to hurricanes than the that insurance no the images that are I was trying to describe images from the different company websites that build these things that the door is recessed in in other words there's ACH like a porch yeah where the door isn't right on the walkway or on the corridor it may itself be about 3 feet 4 feet back deep deep yeah into the into the structure itself the ones I saw they actually had a couple of chairs you could sit out by the by the doorway there it's still opening the proper way swinging out right but it's not swinging out into the walkways into the corridors where the travel is taking place it doesn't go any further out than the wall of the the unit yeah right but were you saying that or did I misunderstand the door going to be opening in or opening out no it still open out as it should but it doesn't come past the wall of apartment yeah yeah thank you commissioner but I still think you need more than 10 ft absolutely yeah so 15 ft okay front front to front that's that's understandable I don't remember what you had side to side it's 10 ft side to side all right um are we requiring gutters memorandum huh not in this memorandum don't they have um drains that close by because if not that watern is going to be covering those sidewalks and all I don't know if that's part of the construction or not we've seen them done both ways with with yard drains in between the units and that's why when when Terry was talking about you get these things more than three units deep it's kind of hard to engineer because you a lot of times the grading is such you'll need yard drains right um also those who do choose to use gutters will often put the down spouts into the yard drain system um there's no requirement for gutters in in Florida building code and so it's just a preference of that of that developer they could have those chains those look so cool okay what else was can youe hang on the gutter so I think the gutter is is a good thing because let's face it we've seen all right so I was at one of these complex you look in the backyard all the gutters were there and all the mcha was there was all pushed right away from the low rain so if you don't have control of that rain a lot of them I think a lot them use a lot of them use Stone rather than mulch cuz mulch floats when the water gets high in there but it's a point there's a lot of roof coverage here and so is there any requirement in building code for that Mr major no sir the board used to have a requirement in the LDC four gutters on single family moved several years ago corridors architectural design standards for twostory was there a reason for it being removed yes sir so as far as the three deep I'm not a fan of three deep either other wouldn't to you're not a fan of what he's not a fan of 3D I mean you park out in the parking lot and you got to carry groceries whatever that what would be the length of these units you know off hand the length not the width let's see I'll give you sir from from depend on the take a look take a look at the first picture under the letter P coming all the way down the second grouping where it says where it goes 3D from what I can see you can have parking across the street in front of the on the left side of it or on the back side it's on the other side so you you got some substantial walking to do there has the design been 3 3D ones we've seen we've seen some that have three deep um we've seen product that goes even more four to five but as Mr Meer has pointed out it gets very difficult an engineering you need the space to accommodate that yeah it's very difficult to when you when you factor in that all these units have water waste water likely irrigation maybe cable conduit underground and a yard drain uh and a sidewalk and and all of these have fenced in backyards typically and so you factor all that to engineer those three and four units deep gets gets tricky it does are you done what was the issue that you bring up because I want to bring up to E when you're done the the gutter was an issue the three deeps another issue I mean frankly the way this map shows on the still well if you look even on the top right with the wond someone's got to walk if they get the lucky parking spot at the very end they got to walk down two and over three to get to get to their house too now there's a sidewalk there's a sidewalk there you just can't see it because the tree cover oh no no I'm I'm saying but I'm saying you got to walk if you don't get that very end spot you're walking down two and over three if you're on the end unit down there and if you're back on those those four spots are cut now you're even down another section you don't have any neighbors on two sides of you there's a tradeoff um yeah that that doesn't bother me but I do want to talk about 2E because in our design we did have some houses that had garages and I don't know you know in this design it looks very monotonous to me um and I don't know why you wanted to Mi wouldn't want to mix that up so um I would say garages are okay in certain amount um why not so that the um Mr chairman in the town homes in starky in the multif family and starky Ranch there are some of those product that have garages those I can pull them up but you know where I'm talking about because you live near there um there are some garages some of that multi founding product those to homes on fence post you're referring to yeah yeah so I I think that we should allow some there may be some great spots even in this one that where they would may want to have it so I I mean I see them detached here but I don't have any problem with allowing some to have a attached garage yes um Mr chairman the policy memo 16 which defined the platted buil to rent developments for single family detach product one of the defining characteristics was an individualized driveway and garage if you had these we basically said Thou shalt plat in other words we're going to treat a single family subdivision that that is for rent as any other single family subdivision you're going to Plat them um and so but that was a that was a key definition point in that uh policy discussion with the industry and the board at that time um it I was to say that including that undo that a little bit well what can potentially happen is to increase a mix potentially you right the board could because these are negotiated projects anyway um so we're talking about conditions of approval for muds you could establish a certain threshold that right you could have maybe 20% of your products can be Drive weight with gar with attached or detached mix use type product that that was for rent so and still maintain that single parcel under common ownership concept without requiring individualized platting I think that would be fine but the question would be what type of threshold are you looking at I think 50% would probably be too much the max that you wouldn't want to exceed that because then you're making the situation really gray between single family detached build to rent and this sort of horizontal apartment multif family build to rent um 20% might be a good starting point and then if a developer could want needed more let's say they could always make that argument in the case that they would present to the board during an mpud debate Mr chairman yes sir you know years ago I think the first one of these we had was over in Lando Lakes off either Hill Road or Bell Lake Road and when in that when in that area part of the cell that they had was when you drive into this place you're going to think you're driving into a single family neighborhood baring the sign that said for a lease out front right talking about the American Home product I'm not sure which the it is I don't want to go by name but I'm just saying so you drive into that one you think you're in a single family subdivision that is a lot more acceptable than this because this year again what's going to happen down the road look at the Gul you Mall you know competition happens around it other things happen and all of a sudden the guy who owned them all and let's face it Apartments they flip them whether they say they're not going to or not potential is there and that's what the market tends to do five years they built it up they rent it out an occupancy it goes in the open market people from Connecticut California they buy these things up and now you just turn in money the gulie mall is an example of the same thing it used to be a higher line mall and then now it's dropped down and if you drop if you walk into it now it's actually kind of depressing you go into to the uh uh Best Buy you can't get into the mall from Best Buy you go into the next store over you can't get into the mall from that store it's just like a store FR out front so what's happened the Dynamics are going to change if this thing goes 30 years down the road the wrong person owns it and they're just going to try to milk it milk it um amenities go down quality goes down you you you you've not created a quality Place Tobit and this project specifically has competition because right across the street there's 400 units that are actively being built you know four story 12 buildings I mean to the whole you know so you have this rental and directly across street you have your Brandon style Apartments going on so that's that scenario you described only a future will tell yeah there there is a market for this product though there there is a market markets right now but is that the product you want to create I mean I wouldn't you rather see even like smaller homes that people can either own or buy and than just having straight rentals I mean we got so many rentals that are out there is that the market we want to get is that the Pasco County want to grow yeah I got to think we want to see more ownership I mean I got young families now and was say said years ago right they they told us oh yeah people don't want to own the homes anymore I will tell you right now the market out there nowadays for the young kids they want to own their own home you know my kids are growing up their friends are having kids etc etc they're all looking for homes the more property you tie up with these rental properties the less opportunity you got for a rental home coming in to keep the very families we want to have grow up here and stay here and raise here they're going to go somewhere else because you took all the land and put apartments up and these rental things up that nobody wants to live in for more than a year or two I think we got to think long right in my neighborhood where I first moved in was Lakeside Woodlands right by the hospital you would have probably 20% of the people from the hospital renting properties in that area high-end they wanted a home they wanted to live they wanted to live close to their work and they could have it but the rental Market's there and that's that's a good high-end high-end product right near Beacon woods so those rentals are okay in the right areas but people can rent a single family home and move out when they want to go that's how people do it Mr chairman yes if I may so the the the policy memo that we're presenting here today uh establishes or will would establish if the board agrees to it at least a baseline for the planning and economic growth Department to engage applicants and tell them this is the very minimum that we would require of this type of project this is what we want to see there may be more that we can tack on on a case-by Case basis um but this is the very minimum uh but it's still nonetheless the decision for the board of County Commissioners will still be there as to whether or not they would accept that project in the future right so this memo essentially would at least pave the way for us as staff to negotiate with the developer and then bring the question to the board of County Commissioners and say okay we've negotiated this this is what it looks like yay or nay on the project but that'll happen application to application like as is as always happens at the 1:30 meetings but this is just it means for us to ad be able to advance those those projects to you all chairman and then me um Terry the the project that commissioner starky brings up that she was describing on starky Ranch I'd like to have a better I don't know if that's shared or if it's public but what she described sounds a lot more palatable than probably what will be coming before this board I'm probably pretty confident that as this project goes and they come and they seek to to build in Pasco they'll probably be pretty uniform but if we're going to have this type of product in Pasco I'd be curious to know the combination of product and the styles that commissioner starky brought about within the project of starky ranch because the only examples real life examples I've seen uh in Pasco you know like I said they're not overly exciting no um Mon and I I I I just want to a better understanding uh of what what they could be and what we could push them to be so um Comm strug you're willing to share kind of what you had i' I'd yeah look at it again I don't think that project's going to happen I um but I thought it was a very good example of of what it could be right now there's no financing for these kind of products um but I think we should do something to stop monotony um and I think there's I Sonia did you get my latest picture that I emailed um I'm just showing you in starky ranch where they have multifamily with with built-in garages now the this is a this is a quadruplex um I I think I'm not even sure what it is but um there's there's not many that have garages but but there are opportunities and and I'm going to go back to something that Jack was saying yeah I do want to see home ownership but I can tell you I have family members who can't afford a house and um I just would love for them to be able to get into something safe that they would like um with their dogs and and be able to live there until they trying to keep them from living with me we've done that already so well that's part of part of our problem with the marketpl is the fact that a lot of young people need something affordable and they can't get into some of these homes I mean there's product out there I know out in the west Chapel area I've seen some that 40ft Lots with houses on that upper range of $500,000 a piece and of course they've all sold but a lot of people can't afford that kind of home so now we are going how you get it affordable these aren't necessarily low-income housing either some of I mean there the ones we were going to do they weren't going to be cheap I'm just going to say but there but there is a there's a there is a market for that there really is there's people who want to live like that so um uh I just think we should tighten up what we have and kind of see what Shake shakes out but I do I do think we have to have a discussion on making sure our at some point our rental you know apartment complexes more the vertical ones you know where are we what kind of Direction board want to give ter on this well we had a few more that we had to go over so I think you need to pick a number for the the garages and if there's support you know I would say 30% maybe because I don't think it should be a lot but I think there should be some up to 30% yeah and then um we did the width amenities and you had a question on ameni ities what what was yours we've got to decide on amenities architectural design standards for twostory and then the conversation around plating so we got the walkway and corridors would say 15 15 feet 15 feet yeah going to start with 15 so with amenities I assume we'll advocate for Trails within there yeah in a p community pool um I don't know what kind of Trail you're going to get but they they they ring the 25 AC property we had all kinds of trails in our this one they have the one I saw had a pool and it had a workout room yeah that's part of it so so so how are we dealing with the hundred for every hundred units you need an acre Park in a for a house we typically wave that in an apartment complex frankly it's one of our live local tools um so I'm not sure I want to give that up right now to to go ahead and Bri in here that they don't have to ask for a waiver of the hund acre Park per 100 because I I get ourselves in trouble they don't have to ask that that's a requested variance from the Land Development code requirement uh because our Land Development code is generally been designed for single family residential development yeah and so that provision is typically applied to residential type although it's you can say that it contemplates single family you can as you read the code it doesn't specifically call out single family but it reads as if it's trying to address the single family style of development nevertheless that code provision is applicable to multi family and so when when multif family developers come in and they present muds to the board they're often asking for a variance from that code provision they don't have to but they do I know and and if we have some locals that we can't that come in on C2 and or industrial that we can't stop that's a tool we have in our toolkit to require that and I think we need to keep that you in the tool box right now correct that's what I'm saying so not saying we won't give these folks a variance if we want to um but we need to keep that tool in our toolbox for live local um any other amenities these I mean you got to think of these as deconstructed they have little the gym the pool a little walking I mean it's the same am many as if what you get in a vertical apartment yeah it looks like they have a path and this particular one we're looking at they have a path around that pond in the back so I don't know where it back don't know where that walkway goes around around the 52 northeast corner so we we'll add those requirements for these development typ or these product types so Terry when we go to the twostory what are you saying like screen porch with architectural design standard sometimes these units are twostory up to 35 ft uh and some of the commentary that was received was that there should be a a difference of material type between the first story and the second story so that the whole thing is not just stucko let's say you put like a brick of veneer on the side or whatever of the first story Hardy Board or some of that nature and above so right and the way we um where the trails come it was noted was uh simply saying that two-story units should not be 100% stucco the first story of a two-story structure should be something different yeah and it can be selected okay with that that that breaks up the monotony of something being the same all the way right this a picture we're looking at on the right side th this is um starky Ranch the Lotus apartment complex yeah these are the apartment units that um we're we're looking at them from the parking lot side of the development but these units line up against Fence Post Drive which is a north south north south road that connects 54 to rangeland the these look nice comparatively to what we have around the the county you definitely when you drive starking you see them subconsciously I think oh we if we're going to have this I'd like to see more like it you see the Hardy plank you see the brick there's see the stone on one there's there's just trim work everywhere it's not necessarily a sliding door it's a hinged door you can see how far apart they are from each other on the upper right are we giving you information it's helping you yes it is very helpful uh to be sure though this this would be classified as vertical apartment yeah which is the next thing on the list to do once we've settled this question on horizontal apartment what else did we have to um give you Direction on so Terry explain differ between what' you say condo style plating and we know what our traditional platting is explain please explain to me the difference you mentioned that there's a possibly we could do condo style plating with these what does that entail that that goes through the state process of condominium through the it's it used to be the bureo of land sales I don't know what it is these days but there the state has a process where you can divide up land in a condominium and you have to F follow chapter seven uh 10 s so then the followup would be ises that exempt this if we if that's done is that this particular way condo planting exempt from live local so con condo platting and subdivision plating is a is a method of dividing property um for sale so under the subdivision regulations if you divide a piece of land into three or three or more Lots you have to go through 177 platting or you can go through this other process the condominium plating statute was really designed for vertical apartment buildings what you think of as an apartment building that each unit is being sold as a piece of property they actually have firewalls between them right right well I'm not opposed to that um the so there is a what they call a land condo that can be done under that same statute that looks for all intents and purposes like a reg subdivision except for the fact that because they don't go through the subdivision process they're exempt from the subdivision process in your code in all local government's codes and so they don't have to follow any of those requirements so what you tend to see is the setbacks are smaller um if they if they do it that way it's very infrequent that you see a land [Music] condo um except in the commercial setting there are some people who go through the who go through condom minimize their commercial project through the state process um especially south of here um but it's you know it's well wouldn't come through us for for review but it's the the uh the land condo is something that is not very frequently used my my experience because it's too the process is too bureaucratic do we get a better product is it it's a level of ownership like do we know well they have to they have to follow the whole state process on forming a Condominium Association and going through all of those regulations that are very different than the homeowners association regulations but this Pro do Association this is just your standard property management firm there's no association part of that right and I think that's been a concern of this board is having some level of Association to keep up with upkeep wa that the question becomes can a private Corporation run maintenance of piece of property better than a homeowners association or or a lay board I mean at some point um platting it is not going to help you in terms of long-term upkeep if it's if it's being um rented out and you may actually be digging a bigger hole because now you've got a lay board that's in control of it that are renters um if that's the way it's it's orchestrated but the but you know if you go back to the the 80s let's say and I can't sorry I can't we we if we don't remember history we're doomed to repeat it um duplexes were popular in the in the 70s and 80s and they were a single unit that had two two dwellings in it on a lot if they were if they were built poorly and they and and they were in certain areas of of a county they became slums you know it that's just the the because what happened what happened in a lot of those situations is single owners bought up a lot of the lots and put them out as rental property and it became the only affordable housing that was available in certain counties and it was a minimum housing problem forever um and some counties are still dealing with that it's not as big a problem here in Pasco but there are some some counties that it's it's a big deal uh um but it's I frankly I think that the focus should be more on design of the project and construction and amenities than whether or not it's platted I agree with you on the single family stuff that looks like a single family development and you know because ultimately that could convert very easily to to a to a home ownership situation if this phase runs in a different direction and then you're stuck in it doesn't meet any of the requirements and it would be hard to hard to divide up um on this sort of multif family product you know I I I don't know that plating is going to help you help you much in the long run yeah I don't chairman yes sir I give for instance I'm not going to say where it was but looked at a place where is a a home on this Main Street coming in a little little cack not a busy road kind of like a kind of like this but not near to the depth um drove in and there was a home on one side and then one row back was a little bit of a garage that you couldn't drive a car into but you could put stuff in and then the home was in the back of it um something to that effect and and frankly looking at the value to that house that was disconnected from the street from the garage whatever just devalued the property even though location was great the home was great I mean but didn't want to go through that yeah so if we're going to devise these things at a 3D no no access to a garage and and to me you know if if you're going to drive into a place let's say it's down the road right and now it's gets sketchy if you going to walk three blocks in or even two blocks in it's a dangerous much more d dangerous situation of what can happen to a young person or young lady walking in with the family with the kids when you got to rent today you don't know who that is could have changed kids to be a squatter and all of a sudden you get to deal with that situation and now that just degrades the property you get one accident that happens there something bad happens in the neighborhood it goes down down down and all of a sudden it spirals out and like je says it goes you know into a very bad situation and now the properties get devalued I think we need to really focus we want really focus let's go Focus that people can afford or town homes that people can afford to help them get a start but to go take up our property that's out there and I say our land they're privately held converting all these things over you're not you're not getting the base that you want for the long-term future I mean do we want quality do we want to be Premier do you want that okay we we've gone quite a while on this but I got a Time certain here at 11:45 so what's the pleasure of the board for well I I want to know Terry I keep asking this have can if you could do it a little faster have we hit everything you asked us to make a decision on yes so we did the monotony we did the 15 ft walkway um there's we did the the twostory um differentiation of the facade in terms of not having it all stucko um we said up to 30% of the units may have individual garages or driveways and we talked about the the mandate for amenities uh and I think the plating question um is yeah for the county attorney's explanation we we want we want more we want to make sure there's architectural variation to avoid monotony and chair well and Terry the to the the point of with garages let's really study that because if we don't have that the likelihood of a storage facility coming right nearby real quick on a prime time job creating site is highly likely going to happen so so you know let's I guess that raises a quick question previously we said up to 30% of the units may have individual garages and driveways does that instead of being an option does that become a requirement no I I don't want to make it a requir have these uh uh unattached um storage garages and storage I know my sonot and he rented one sorry members we're I apologize we're having some issues with the clerk being able to hear are we we're not recording I think it might be mine perhaps check one two the um Investment Portfolio presentation we have someone travel that's it for you on still I thought it was Jack for a minute Mr all right this is presentation only are we done with that well we took a long time we didn't take are we taking comment from the public on this no I know that okay Hey listen this uh time certain for 11:45 the person came from quite a ways off to be able to do this oh here it is so we need to need to take care of it but have you got the direction or you asking for some kind of a motion from us on this item uh the motion would be to um direct the planning and economic growth Department to a course of action which if the board is okay with the provisions that we've talked about today that would be the course of action that we would then Implement in the policy do that and then bring that back to us or Mr chairman well we would go ahead I'm sorry Terry we would go ahead and implement it of course the board would see the the revised policy but I think we've gotten the information from the board that we need in order to to finalize the policy and then of course as projects come in that's that's a different matter Mr chairman yes I mean I I hear one voice coming out and so we're going to take that as the answer you know 15 fet we're going to say 30% is acceptable not to get one answer I mean I don't think we're anywhere near done with this thing I'd like to see it come back in the next meeting well I think there's no way we've had a full discussion here and I haven't even heard from commissioner BR well we can't continue it now I mean we can continue to next continue it this afternoon if the board would like that's fine but I'm not yeah I'm not to discussing this okay let's discuss it this afternoon um but I think commissioner Mariano brings up some things that need to be discussed in a workshop setting with a lot more information when when we're going to start discussing rental versus purchase and what are the right proportions okay we don't have nearly enough of that information be F so I guess the consensus to bring it back to us so let's let's get through our time certain and then we can bring back uh any final discussion if staff has had an opportunity to maybe address some of the board's issues and if we are still at that point this afternoon then we'll certainly we'll bring it back Andor Workshop It Whatever the board would like to see all right so we'll continue to this afternoon we're go to item uh it's r42 42 r42 Mr chair r42 is the semiannual Investment Portfolio presentation and market update at the podium we have Scott Stitcher director with pfm Asset Management he's going to go over the market update as well as the portfolio that pfm manages for the county and also with him is Matt Lazar he is the finance director with my office and uh Mr Lazar is going to go over the portfolio that um he and his um his Department manage for the county thank you thank you good morning Mr chairman Commissioners Madame clerk thank you for the introduction um let me see if I can get my our our presentation up here yeah here we go so as Madam clerk uh mentioned I'm going to provide a little backdrop on what occurred during the quarter and and sort of paint the picture for maybe what to expect in the coming year uh before we get into looking at some of the specifics of your assets and and the portfolio that we are responsible for uh so they were calling for a Slowdown during the quarter they being The Economist were calling for a Slowdown during the fourth quarter and if you call uh a a GD P reading of 3.3% then I I'll say we got that slowdown um third quarter came in at 4.9% fourth quarter at 3.3% for the full year growth came in at 3.1% again economists were calling for 2% for the full year they were calling for a recession and we definitely avoided a recession it was a great year for the economy as a whole now inflation continues to rear its head we are seeing it starting to cool uh but during the quarter it cooled slower than expected we got a CPI reading last week came in a little higher than expected at uh 3.1% the expectations were for 2.9% reading uh pce which is uh personal consumptions expenditure is the preferred gauge for the FED it remains elevated as well at 2.6% the core reading at 2.9% more recently though that number looks much better it's now hovering if you annualize the last two quarter quarterly readings hovering around 2% which is again the fed's target for inflation so we're we're getting there we're starting to see some cooling however I mentioned growth being quite strong during the quarter and for the full year and that's because the the employee is continues to to have a job uh if you look at the unemployment rate stands at 3.7% it's been below 4% for two years running now two Fridays ago we've got new growth new job growth at 353,000 for the month of December which was double expectations if you look at the job openings to unemployed ratio that currently stands at 1.4 times so that means there's about 1.4 jobs for every individual that's looking so that is down from mid 22 when it stood at two times so two jobs for every person looking the FED wants to see that number at one one times so with strong jobs growth and reacceleration of earnings it it's enough to kind of give the FED a reason to pause right now from a the standpoint of reducing rates which is kind of what the market is now pricing in is the next move will be the FED will reduce interest rates rates the market had priced in a move in March and in May the chair J pal was pretty clear that he's they're not planning to cut rates in May and that expectation has now been kind of pushed out to June so the there is a a disconnect between the market and the fed the FED is saying three rate Cuts in 24 the market still thinks four to five so there's a saying out there that you don't fight the fed and so time will tell uh how many rate Cuts we get this year but it looks like it will be some time before we get that First Rate cut now uh during the quarter interest rates did fall dramatically anywhere from 70 to 80 basis points during along the the the uh treasury yield curve and you can see that reflected in the dotted line which was the end of the third quarter versus the blue solid line uh which is the end of the fourth quarter and that's a good thing for long-term investors such as your s from a price appreciation standpoint as Bond or yields go down bond prices go up there's that inverse relationship so that that's a good thing um let me stop there and just see if there are any questions about the economy or the expectations here for 2024 before I hand it over to Matt to go into some of the details of the overall assets any questions from the board I don't see any okay thank you all right well again Matthew Lazar Finance director for the clerk's office so um when Scott said don't fight the FED that reminded me of when my mom used to say you also don't fight the women in your life so thank you Scott for childhood memories um but kind of going through the portfolio what you're seeing right now this item goes in conjunction with what you also are going to see in your board packet which is the quarterly performance for the County's portfolio so at this time where as of December 31st the county had an Investment Portfolio of about $2 billion um 1.5 was deemed unrestricted and what that means it's not tied directly to a debt service or a bond issuance um so that is what you're seeing on this slide and really what we're trying to show here is with what Scott has been saying we are trying to be as agile and diverse in our Investment Portfolio as possible we want to be able to react um um to the changing Market at the same time we want to be proactive so you'll see anything ranging in maturity from 25 days to just under two years that allows us to make those moves and stay in compliance with the investment policy I think what you're really seeing though on here is how much the county has grown in the 10 plus years I think if we would have had this conversation 10 years ago you would have seen the the breakdown you're seeing in the top left would have been Florida trust and maybe with sprinkled with a few CDs but the change in the investment policy has really allowed uh for the county to to take advantage of the market in different Avenues so you can see we have certificate deposits with some of the local banks um as well as kind of just you know branching out to obviously pfm and and a lot of the different local government investment pools um on here uh again to correlate to your packet that the of the items we received for the period ending December 31st the county has seen about $6.5 million in return on investment um which it I think we obviously you can extrapolate that out for the year but we are getting in line with how it was preo which I think is a very important thing to keep in mind especially uh as you guys go through budget season and you guys are talking about Capital project that really does kind of come into play um on this item there so uh going over to the next slide this is the sector analysis could you go back to that Slide m so when I look at the Morgan Stanley you like 25 million and it's Na and JP Mogan Chase na as far as expected yields or or monthly average yield why is that so when we were looking at those those are with our so we bank with JP Morgan and those are just liquid funds that we have invested so that it's very minimal return it's more of a safekeeping so if we have a large expenditure that is coming up we can easily move funds between we are currently looking into moving that into a different investment Avenue to see if we can get a better return but the original thought process behind there was just to make sure to keep it with a local banking institution that allows us to make expenditures on in a timely basis I mean I got to think you can get someone who would probably give you like 1% if you're going to keep that much money in there yep and that's what we're we're considering now especially with a lot of the shortterm it's there's we have a lot of funds there's not as many investment AV local investment avenues that can handle that large amount of funds so it's finding a place to safely put those large amounts so we've been in conversations with a lot of different investment Avenues kind of reaching out to especially as you guys get more Bond issues uh we get a phone call every week about kind of branching out so we are looking actively in those two markets right now to make I me even if you had to div divide up to more accounts to get that security if that's what you needed but there's got to be some type of return there somewhere I just I I was just going to add that to to your point that these Investments are really overnight it's a liquidity tool and those data points really don't exist for that type of of investment that's why you don't see on on the page but to your point it is earning a yield it's just not a yield to maturity or or an weighted average what's your rage daily B balance in those accounts so it's it's around what you're seeing in there the 25 we try not to exceed the $25 million that is the buffer to make sure that we are able to so the money comes in and out you get a $25 million balance money on that there's two of them I know that's what I'm saying both of them maybe even three of them so and that is why we we are looking into making those changes uh again this is when we move that money it's the ability of when we work with these local government investment pools we have to give advanced notice sometimes 48 Hours 72 hours in advance to pull down money this gives us the ability to if a large expenditure is coming through for a project or anything could be payroll we're able to quickly make that change so we're trying to set that uh standard with the other local government investment pools to make sure that if we were putting in their Market we have the ability of those funds we don't have to wait 72 hours so they can plan accordingly so we can so we have those available that these are the two items we're looking at now uh to make changes with so okay all right so in here this is the taking the investment policy and the different limitations that are set in that investment policy and kind of just showing it in graph form so the gray outline is the limitations per the investment policy the Shaded in Blue Area that is the current investment as of December 31 um so really we're going to go straight down to the bottom there the Florida Prime to point out that was0 1% over what was allowable per the investment policy um normally uh that is well below that but the reasoning behind that in December a large increase in tax revenue came in which had the the large impact in there obviously it was only 0.1% but again we've come up with some uh checks and balances within Finance to make sure we don't have that occur again but that that is what attributed to that it was a large increase for tax revenues in December so that is all I have any other questions for me no I'm going to have one for the administrator in a second are you done I'm done but he's he's got some more for okay okay I'll wait okay I'm going to fast forward here to uh the portfolio that we are responsible for so Matt focused a lot on you know liquidity uh and you'll recall that this is operating money it's governed by state statute 28.412730 we ended the year and the quarter at $395 m117 th000 the duration which I've talked about before which is the interest rate sensitivity of your portfolio stands at about 1.71 years versus The Benchmark at 1.75 years the last time I was here we were maintaining duration short of The Benchmark to the tune of about 95 to 97% we've lengthened that a bit in this rate environment to the 97 to 100% range and you're likely going to see us maintain that level as long as it looks as though the next move by the FED will be lower so we're comfortable taking on a little more interest rate risk in your portfolio the number I want to stop on though before we get to Performance is the yield at cost in your portfolio and you've heard me talk about this previous meetings last time I was here the yield at cost in your portfolio was about uh 2.88% uh you can see at the end of the fourth quarter it's stands at 3.81% and into early February it's now at 4% why is this important well you're locking in income at higher yields high that means higher interest for longer so when interest rates do fall this portfolio is going to reset much slower than a money market fund a local government investment pool or bank account so this is again a long-term portfolio to lock in income for longer and you can see that the yield at cost is starting to move towards the yield at Market so your patience and letting the market come to you after this cycle of uh Rising rates is is starting to be rewarded uh you'll note a a highly Diversified portfolio in the upper right uh High credit quality and the lower left S&P credit quality double A for the overall portfolio and then we show you the duration distribution in that lower right how do we get to the 1.71 the blue bars uh will'll show you how we get to that number and I'll note that we are overweight in that zero to oneyear time frame which I'll call dry powder that is uh Securities that will mature in the near future that can be reinvested at higher yields interesting so let's look quickly at returns that's what you're really most interested in seeing and I mentioned earlier we had falling interest rates during the quarter and that equates to really strong returns for the fourth quarter as well as the trailing 12 months the one-ear figure we give you Total return in uh percentages in the bottom and in the middle we give you total return in dollars uh you'll note the portfolio was up 2.65% for the four fourth quarter versus the bench Benchmark at at 249 and after fees at 264 so about 15 basis points of outperformance during the quarter what we're most proud of is the trailing 12 months up almost 5% for the year versus the bench at of 428 and then after fees of 492 so about 64 basis points of outperformance on a net a fee basis 68 basis points gross of fees I'd be remiss if I didn't point you to the dollar returns uh about 18.6 million in total dollar returns for the year that's what the 5% equates to for the quarter about 10.1 million I want to focus on that thre Monon interest earn number 3.4 million and if you extrapolate that out over the next year that figure is roughly 13.6 million I think that's a conservative figure for income over the coming year in this portfolio alone compared to last year at 10.7 million so it's almost 3 million more is I think again a conservative estimate of what to expect in income over the next 12 months why am I focus in on that number income acts as an insurance policy in your portfolio so it it it guards against any price fluctuations that may occur income is typically the largest component of Total return so as that number increases your total return should continue to to Excel and any volatility in the marketplace should be buffered by the income in the portfolio so it's been a long time coming uh it's kind of fun to do these uh presentations once again uh it was a really good quarter and really good year so let me stop there and just see if there are any questions well I have a question for the County Administrator Mr sty how do we reflect these when we go to do our budget this money glad you asked so uh we have um first off this is all pooled cash right so this is uh from various funds across funds so your Enterprise funds for example are are part of this pooled cash right so your Solid Waste utilities across all that we do Revenue projections uh just like we do for the taxing Vehicles we have projections on what interest income is and that is actually baked into all of the models and so it is baked in as a Topline Revenue number uh for departments and areas that are drawing out of fund so in short it's accounted for um you know we always go back and we'll we'll we'll back check things as as you know um reality sets in right so we we do a projection but then we cross check how those projections did with reality well in in my future budget hearings I'd like to see you know this called out any whatever fund it is just a little more transparency Mr chairman okay Mr May Mike what about tourist development revenues um with their reserves is this part of the mix with that are we actively working to let's say help tourist development create revenue for their own uh items so I I mean like I said it's it's across all funds so I would would imagine that would be part of the pooled cash and I there is interest income that that comes in across all funds so I think the answer is yes but let me go back and validate that for you so with I mean this is probably different with other funds too when you get that extra Revenue that comes in do you proportionally break it out to each department to put the money back into those it's proportioned by the pool cash yes sir so if utilities for or solid waste for example is 50% of that then that interest income goes back in terms of the uh you proportionate as to what they had invested does that make sense it's proportional okay good thank you Mr chair yes I just wanted to Echo um Mr carala he's he's he is correct um with what he's what what he said I think you guys doing a great job thank you thank you appreciate it thank you thank you thank you very much okay pleasure all right at this time we will U recess for lunch and be back at 1:30 for public hearing and then we are going to do our housing or our [Music] [Music] [Music] our [Music] County waterways and Wildlife depend on you to keep them healthy excess fertilizer grass clippings trash oils and pet waste wash into gutters and storm drains when it rains storm water carries these pollutants directly into our lakes and rivers creating an unhealthy environment for fish water foul and other Aquatic animals storm drains are meant for clean rainwater most other discharges are illegal if you suspect an illicit discharge please contact Pasco County Department of Public Works at 7278 3 [Music] 43611 welcome to Pasco County in the heart of Florida's pristine Nature Coast and the Gulf of Mexico comprising an area of more than 740 square miles tourists are drawn to Pasco County for its 20 mi of Shoreline and 100,000 acres of unspoiled Wilderness favored by lovers of the outdoors Pasco County isn't just about Recreation and tourism it's 30 Mi north of Tampa