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microphone.) 6. Review and discuss the 1st Street Renovation Project, including consideration of allocating TIRZ funds to support the project. Rob Vine introduced consultant Vance Lyles with MTG Engineers & Surveyors to provide an overview of the status of the project. Mr. Lyles explained that this is a 2023 CDBG-funded project through the Texas Department of Agriculture (TDA). The goal is to transform 1 st Street into a more pedestrian - friendly "plaza." He noted that the addition of eight bump -outs, utility connections for water and power to support events, and general construction cost increases have raised the overall project cost by approximately $300,000.00. Mr. Lyles also reported unexpected utility issues and the discovery of a basement beneath the street, both of which contributed to additional cost increases. The original grant amount is $500,000.00, with a required match of $129,318.00 provided by the City. The total cost may increase further depending on the inclusion of alternate items such as landscape beds, irrigation systems, electrical outlets for food trucks, and glass pavers. Mr. Lyles stated that plans for the environmental review have been completed, and once clearance is received, the project will be ready to go out for bid --- potentially by mid-to-late June. The TDA contract date is set for the end of the year. Ms. Hammond said that this was a great project and would significantly enhance the area. She inquired whether there were any plans to place the utilities underground. Mr. Lyles responded that there are currently no such plans, as the quote for relocating the overhead electric lines underground was extremely high. Mr. Vine added that the cost was prohibitively expensive but noted that further discussion with Oncor could still take place. He stated that he would coordinate with City Engineer Todd Mittge to obtain a more accurate estimate for the underground utility work. Mr. Hayter expressed that he was under the impression the street would be permanently closed to traffic and sought clarification regarding the inclusion of removable bollards. Mr. Vine confirmed that the street would be permanently closed to through traffic; however, the bollards would be removable to allow food trucks to enter, park during events, and then be reinstalled. He emphasized that the street would remain closed to general traffic at all times to maintain safety and minimize confusion. Guest attendee Chad Lindsey, representing 1st Street Media, spoke in support of the project. He acknowledged the high cost of relocating utility lines underground but stated that 1 st Street Media would support the project in any way possible. He also suggested that stamped brick might offer a more cost- effective and easier -to -maintain alternative to traditional paved brick. Ms. Hammond expressed surprise that the funding request was being presented to the board at this stage of the process. She remarked that, given the ongoing planning efforts, submitting piecemeal funding requests before the planning is complete undermines both the process and the broader vision. Chairman Head stated that what he found most encouraging about the project was the collaboration it demonstrated between the Chamber, the City, and potentially the TIRZ Board. While the project may not fully align with the current planning efforts, he expressed his support for the City moving forward with initiatives like this. Ms. Hammond added that if this request were approved, she believed no additional project requests should be brought forward until the planning process has been completed. Mr. Vine explained that the reason the funding request was being presented to the board at this time was due to the City receiving $400,000.00 as part of a disannexation agreement with a solar farm, in lieu of taxes. He stated that the City of Paris had partnered with the Chamber of Commerce and reached an agreement for each entity to contribute $100,000.00 from Hotel Occupancy Tax (HOT) funds to help cover the project's funding shortfall. This would still leave a remaining gap of $100,000.00 in project Page 2 of'3