* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [New Hope Housing Savoy Grand Opening] [00:00:17] SO HERE TODAY, WE HAVE 120 APARTMENT HOMES, AND THE AVERAGE AGE OF A HEAD OF HOUSEHOLD IN THIS BUILDING IS 41. AND THE AVERAGE INCOME OF THE HEAD OF HOUSEHOLD IS JUST OVER $33,000. WE ARE SERIOUS ABOUT DOING DEEPLY AFFORDABLE HOUSING BECAUSE WE SERIOUSLY LEARNED THAT ONE, ONE HALF OF ALL HOUSTONIANS RENT THEIR APARTMENT HOME OR THEIR SINGLE FAMILY HOME. AND OF THAT 50%, JUST THINK ABOUT THAT. WHEN YOU'RE DRIVING DOWN THE FREEWAY, 50% OF THE PEOPLE YOU SEE ARE RENTERS. AND OF THAT 50%, HALF OF THEM ARE RENT BURDENED, MORE THAN 30% OF THE INCOME AND RENT AND A QUARTER OF THEM ARE SEVERELY RENT BURDENED, MORE THAN 50% OF THEIR INCOME AND RENT. AND THAT NEEDS TO STOP. AND THE MAYOR HAS HELPED US DO WHAT WE CAN DO TO HELP THAT STOP, BECAUSE THERE IS ABSOLUTELY NO REASON THAT ANYONE IN THE WEALTHIEST COUNTRY IN THE HISTORY OF THE WORLD SHOULD BE LIVING ON THE STREET. AND THAT'S WHAT BEGINS TO HAPPEN WHEN YOU CAN'T HAVE AN AFFORDABLE PLACE TO LIVE. SO HERE WE ARE TODAY, AND THANK YOU SO MUCH, MAYOR TURNER. AND THANK YOU SALLY ALCO FOR BEING HERE. BETTER KNOWN SOMETIMES IS SALLY ACORN. RIGHT NOW, MORE THAN ONE PERSON HAS MADE THAT MISTAKE. AND WE THANK YOU VERY MUCH FOR YOUR SUPPORT. UH, THE COUNCIL MEMBER KNOX'S OFFICE AND COUNCIL MEMBER ROBINSON'S OFFICE ARE REPRESENTED AND POONE IS HERE REPRESENTING COUNCIL MEMBER POLLARD. AND YOU MAY KNOW THAT COUNCIL MEMBER POLLARD, AND IN HIS DISTRICT, HIS MOTHER PASSED JUST A FEW DAYS AGO. AND WHEN I FIRST MET THE COUNCIL MEMBER, HE TOLD ME THAT HE HAD BIG SHOES TO FILL. AND I CAME TO UNDERSTAND THAT HIS MATERNAL GRANDFATHER WAS A MENTOR TO MARTIN LUTHER KING. HE WAS DOING BUS BOYCOTTS BEFORE MARTIN LUTHER KING WAS. AND THE COUNCIL MEMBER'S MOTHER WHO JUST PASSED, WAS A PIONEER IN EDUCATION. SO I HONOR HIM TODAY AND I I THANK PAUL FOR BEING HERE TO REPRESENT HIM. I ALSO WANT TO HONOR SOMEONE ELSE WHO IS HERE TODAY, OR MR. DONATO WHO IS SEATED HERE. WHEN DEAN WALTER TAYLOR WAS FIRST DREAMING OF DOING HOUSING AND THAT HOUSING WAS DEDICATED TO THE HOMELESS STUDIO STUDIO EFFICIENCY, HE CALLED TOGETHER JUST A FEW PEOPLE TO TALK TO HIM ABOUT HOW TO MAKE THAT HAPPEN. AND ONE OF THE VERY FEW PEOPLE HE CONTACTED WAS ERNESTO MALDONADO. ERNESTO THEN JOINED THE VERY FIRST BOARD OF NEW HOPE HOUSING. AND BY THE TIME I CAME ALONG, A BIT OF A JOHNNY COME LATELY, A JOY COME LATELY, I SUPPOSE. UH, THERE WERE 40 UNITS OF HOUSING AND ERNESTO HAD STEPPED BRIEFLY OFF THE BOARD OF DIRECTORS. HE STEPPED BACK ON JUST AS SOON AS I COULD GET HIM TO DO THAT. AND FOR MANY, MANY YEARS, HE WAS ONE OF THE ABSOLUTE GO-TO BOARD MEMBERS. ERNESTO EVER SAID NO, IF HE HAD WORK TO DO, AND HE WAS RUNNING A WONDERFUL ARCHITECTURAL FIRM THAT DESIGNED NOT ONE, BUT TWO INTERNATIONALLY RECOGNIZED BUILDINGS FOR NEW HOPE HOUSING AND MANY MORE BUILDINGS, INCLUDING THIS ONE. HE NEVER SAID NO. HE JUST WENT BACK TO THE OFFICE AND WORKED UNTIL 11 OR 12 O'CLOCK AT NIGHT SO THAT HE COULD HELP. TODAY. STEPHANIE PETTIGO IS HERE AS WELL. SHE WAS WITH ERNESTO'S FIRM AND SHE IS NOW THE PRESIDENT OF GSMA. AND ERNESTO, WE THANK YOU VERY MUCH FOR YOUR DEDICATED DEDICATION TO THOSE LESS FORTUNATE AND FOR BEING HERE WITH US TODAY, ALL THESE YEARS LATER, MORE [00:05:01] THAN 20 YEARS YOU HAVE WORKED ON THIS MISSION. THANK YOU VERY MUCH. ALWAYS MOST IMPORTANT IS TO MENTION OUR DONORS, BECAUSE THEY ARE, THEY'RE THE PEOPLE WHO BUILT THIS BUILDING. WE ONLY HELPED THE CITY OF HOUSTON, CREDIT SUISSE, THE FEDERAL HOME LOAN BANK OF DALLAS, ARNOLD VENTURES, LAURA AND JOHN ARNOLD, THE BROWN FOUNDATION, THE CULLEN FOUNDATION, DAVID WEEKLY FAMILY MD ANDERSON FOUNDATION, JOHN P MCGOVERN FOUNDATION, AND JANIE AND KEN VALICK, OUR BOARD CHAIR. WE HAVE HOUSING TAX CREDITS AS THE BASIS OF THE FINANCING. AND THOSE WERE SYNDICATED ALLOCATED BY THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS RASCAL'S BOARD CHAIR. THANK YOU FOR BEING HERE. AND THEY WERE INVESTED BY PNC BANK THROUGH NATIONAL EQUITY FUND AND NATIONAL EQUITY FUND, THE SPONSOR OF OUR EVENT HERE TODAY. AND THEY'LL BE SPEAKING TO YOU IN A FEW MINUTES, BUT I'M GOING TO TAKE A MINUTE RIGHT NOW TO TELL YOU THAT THEY HAVE BEEN WITH US SINCE THE VERY BEGINNING. THEY SYNDICATED OUR CREDITS WHEN NO ONE ELSE WAS INTERESTED AND NO ONE ELSE WOULD. THEY TOOK A BIG CHANCE. NOW, I THINK WE PAID OFF. THAT WAS THE INTERNATIONAL AWARD WINNING BRA CROSSING DESIGNED BY ERNESTO MALDONADO ON THE GOLD FREEWAY. SO IT TURNED OUT PRETTY WELL, BUT IT WAS A BIG RISK. AND I THANK THEM TODAY. AND TO MAYOR TURNER, PLEASE SAY A FEW WORDS AND, AND ACCEPT MY THANKS AND MY CONGRATULATIONS FOR YOUR WORK WITH US DURING THIS ADMINISTRATION. THANK YOU. THANK YOU SO VERY MUCH. THANK YOU, JOY. I LOOK, LET ME INCORPORATE EVERYTHING THAT JOY HAS ALREADY SAID, UH, INTO MY REMARKS. I WANT TO THANK, UH, ERNESTO MARDO, THANK YOU FOR YOUR LONGSTANDING STATE. REALLY APPRECIATE THAT. NEW HOPE, OUR HOUSING. I CAN'T THANK YOU ENOUGH TO KIM KEN VALICK AS THE BOARD CHAIR, AND ALL THE BOARD MEMBERS, ALL OF THE SPONSORS THAT JOY, JOY HAS TALKING ABOUT TO PEOPLE WHO HAVE PARTICIPATED IN MAKING THIS DAY HAPPEN. REALLY APPRECIATE THAT. WANNA GIVE A GREAT DEAL OF CREDIT, UH, TO COUNCIL MEMBER EDWARD P*****K. UH, IT'S VERY IMPORTANT FOR COUNCIL MEMBERS TO BE ON BOARD. IT'S VERY IMPORTANT FOR COUNCIL MEMBERS TO SAY YES. AND AS YOU KNOW, THIS IS AN AREA, UH, WHERE THERE ARE A LOT OF MULTI-FAMILY APARTMENT UNITS. UH, SO, UH, UH, HIS SUPPORT WAS JUST VERY, VERY VITAL. UH, HE IMMEDIATELY SAID, YES. UH, PAUL YOUNG, HIS CHIEF OF STAFF IS REPRESENTING HIM, AND I'M SURE HE'S GONNA BE SAYING A FEW WORDS, AND I KNOW COUNCIL MEMBER POLISHER WOULD WANT TO BE HERE TODAY. BUT WE DO WANT TO HONOR, UH, HIM AND ACKNOWLEDGE HIM AND THE LOSS OF HIS MOM, WHO WAS AN EDUCATOR FOR SOME 43 YEARS, UH, AT TEXAS SOUTHERN UNIVERSITY. SO REALLY APPRECIATE HER AND HER TRANSITION. UH, SO, UH, WANT TO ACKNOWLEDGE THAT. BUT LEMME JUST SAY, UM, FOR THIS PARTICULAR DEVELOPMENT, 120 UNITS, UH, 80%, UH, OF THE UNITS ARE AT, UH, FOR PEOPLE WHOSE MEDIUM INCOME IS 6% OR LESS. THAT IS HIGHLY SIGNIFICANT. 'CAUSE WHEN YOU START TALKING ABOUT AFFORDABILITY, THAT REACHES AFFORDABILITY WHERE IT IS. 'CAUSE WE'RE TALKING ABOUT PEOPLE WHO, LET'S SAY ON AVERAGE MAKE ABOUT 30, $35,000 ANNUALLY. AND FOR 80% OF THE UNITS TO BE FOR THOSE PERSONS, THOSE FAMILIES, 6% OF LESS REALLY REACHES THAT AFFORDABILITY LEVEL. ON TOP OF THAT, UH, SOME OF THESE UNITS ARE DEDICATED TO FAMILIES AND CHILDREN WHO ARE FLEEING DOMESTIC VIOLENCE. SO I WANNA APPRECIATE JOY, NEW HOPE HOUSING FOR THE COLLABORATION WITH THE HOUSTON AREA WOMEN'S CENTER, BECAUSE IT'S NOT ABOUT JUST BRICK AND MORTAR, IT'S ABOUT FREEDOM. IT'S ABOUT, UH, INDEPENDENCE. IT'S THE RIGHT TO LIVE AND TO PROSPER. AND SO THEY'RE MAKING THAT AVAILABLE. AT THE SAME TIME, YOU CAN'T ADDRESS HOMELESSNESS WITHOUT PROVIDING PEOPLE WITH THE AFFORDABLE MEANS IN WHICH TO LIVE IN A HOME. UH, AND THIS PARTICULAR FACILITY, THIS DEVELOPMENT, UH, WILL DO, WILL DO JUST THAT. AND THEN BECAUSE OF THAT, FOR IT NOW TO BE, UH, 98% OCCUPIED AND ACCORDING TO JOY AS OF SATURDAY, IT WILL BE 100% OCCUPIED. UH, WHICH MEANS 100% AT LEAST SPEAKS VOLUMES ON THE NEED THAT EXISTS WITHIN OUR COMMUNITY. [00:10:01] SO I WANNA THANK YOU ON THAT. I WANNA THANK THE, THOSE WHO PREVIOUSLY OWNED THIS PROPERTY, I'VE HAD THE PRIVILEGE OF TALKING TO THEM. THEY PREVIOUSLY OWNED IT AND GRACIOUSLY SOLD IT. UM, SO YOU, YOU CAN'T BUILD ON WHAT YOU DON'T NECESSARILY OWN. SO THANK YOU ALL FOR BEING A PARTNER ON THIS DEAL. UH, VERY MUCH APPRECIATE THAT. SO LOOK, UH, IT'S A GREAT DAY IN THE CITY OF HOUSTON. UH, I KNOW COUNCIL MEMBER SALLY ALCORN IS JUST BEAMING OVER THERE. UH, AND, UH, WITH WHAT HAS TAKEN PLACE, JOY, IT HAS BEEN A PLEASURE FOR THE CITY TO PARTNER WITH NEW HOPE HOUSING. WE CAN TALK ABOUT 40% IN TERMS OF WHAT THE CITY ON THIS PARTICULAR DEAL. THE CITY, I THINK PUT IN A LITTLE MORE THAN $13 MILLION OF DR, WHAT WE CALL 2017 FUNDING. WHERE IS KEITH BYNUM? RIGHT HERE? MAYOR, I WANNA THANK MY HOUSING COMMUNITY DEVELOPMENT DIRECTOR AND THE WHOLE HOUSING DEPARTMENT. IF YOU'RE A MEMBER OF THE HOUSTON HOUSING DEPARTMENT, RAISE YOUR HAND. I WANT TO, UH, I WANT TO THANK, I WANNA THANK THIS AND ONE, LEMME START OFF BY THANKING MY DIRECTOR. UH, I APPRECIATE KEITH AND HIS WORK AND THEM BEING VERY LASER FOCUSED ON CHANNELING THESE DOLLARS ON PROJECTS THAT ARE NOT JUST, UH, THAT ARE BEING TRANSFORMATIONAL, MAKING A TRANSFORMATIONAL DIFFERENCE IN THE LIVES OF PEOPLE. I WANNA APPRECIATE THE ENTIRE TEAM, UH, FOR THE, FOR THEIR WORK. AND I WILL TELL YOU, THEY HAVE DONE A YEOMAN'S JOB. UH, THE INITIAL GOAL IN TERMS OF MULTIFAMILY UNITS, UH, WAS FOR US TO CONSTRUCT DEVELOPMENTS THAT WILL GET UP TO ABOUT 7,000 MULTIFAMILY UNITS WITH THEIR, WITH THEIR WORK. UH, WE HAVE NOW EXCEEDED 10,000 IN MULTIFAMILY UNITS IN THE CITY OF HOUSTON. SO LET ME THANK KEITH. LET ME THANK THE ENTIRE TEAM, BUT LET ME THANK INCREDIBLE PARTNERS LIKE NEW HOPE HOUSING FOR HELPING TO MAKE THAT HAPPEN. AND THEN LET ME THANK ALL OF YOU. SO, UH, LOOK, I DON'T KNOW HOW MANY MORE WE HAVE BEFORE. MY TERM ENDS. QUITE A FEW . WELL, I WAS GOING TO DO DO A LITTLE SWAN SONG, BUT SINCE HE SAID WE HAVE QUITE A FEW, I, I'LL WAIT DOWN THE STRETCH, YOU KNOW, BUT, UH, BUT, BUT JOY, LET ME THANK YOU. THIS, UH, UH, YOUR COMMITMENT, THE DEDICATION OF YOU, THE BOARD, UH, ALL OF THE SPONSORS IS INCREDIBLE. AND I DON'T CARE WITHOUT YOUR COLLABORATION, YOU ALL'S COLLABORATION WITH THE CITY OF HOUSTON. UH, DEVELOPMENTS LIKE THIS DON'T TAKE PLACE. I DO WANT TO ACKNOWLEDGE IT'S A BEAUTIFUL FACILITY, OKAY? THE ROOMS ON THE INSIDE, VERY, VERY NICE. UH, BUT I HAVE TO ACKNOWLEDGE THESE TREES. UM, THIS IS A NEW DEVELOPMENT, BUT THESE TREES ARE NOT JUST TREES THAT, YOU KNOW, A FEW MONTHS OLD. UH, SOMEBODY TOOK A LITTLE FORESIGHT IN ORDER TO PREPARE FOR THIS DEVELOPMENT IN ORDER TO HAVE A VERY FRONT, A GOOD FRONT DOOR FOR THE PEOPLE WHO WILL BE MAKING THIS, UH, FACILITY, THIS DEVELOPMENT THEIR HOME. WHAT A WAY TO BRING ABOUT DIGNITY AND RESPECT, BECAUSE YOU JUST DON'T PUT PEOPLE ANYWHERE, BUT YOU PUT PEOPLE IN PLACES WHERE THERE IS LOVE, DIGNITY, RESPECT, APPRECIATION. THAT IN THE END IS WHAT MAKES A HOUSE A HOME. AND FOR THAT, I WANT TO THANK YOU FOR MAKING A HOUSE, A HOME FOR MEET PEOPLE WHO NEED HOMES THE MOST. THANK YOU SO VERY MUCH. THANK YOU VERY MUCH MAYOR TURNER. AND ALSO WITH US HERE TODAY IS REGINA RECINOS WITH THE GENERAL LAND OFFICE IN MAGEN. IF YOU WILL COME HERE AND, AND SAY HELLO AND, AND ACCEPT OUR APPRECIATION. YES, EVERYONE, UM, IT'S A PLEASURE TO BE HERE. ON BEHALF OF TEXAS LAND COMMISSIONER DON BUCKINGHAM, UM, THANKS TO OPEN COMMUNICATIONS AND FOCUS COOPERATION, COMMISSIONER BUCKINGHAM IS PROUD TO SEE THESE NEW SUCCESSES WITH DISASTER RECOVERY IN HOUSTON AND HARRIS COUNTY. THE GLO REMAINS DEDICATED TO ASSISTING THE ENTITIES PUT THESE VITAL FEDERAL FUNDS TO GOOD USE. THE $13 MILLION IN C-D-B-G-D-R FUNDS USED FOR THE SAVOY REPRESENTS ANOTHER STEP TOWARDS, UM, BUILDING BACK THE CITY OF HOUSTON AFTER HURRICANE HARVEY. CONGRATULATIONS. JOY TO YOUR STAFF, TO THE BOARD MEMBERS AND EVERYONE HERE, AND TO ALL THE NEW RESIDENTS AND FUTURE RESIDENTS THAT THE SAVOY WILL SERVE. THANK YOU. THANKS. THANK YOU SO VERY MUCH. UH, PAUL, [00:15:01] WOULD YOU PLEASE ACCEPT OUR APPRECIATION AND, UH, CONVEY OUR GOOD WISHES TO COUNCIL MEMBER POLLARD? THANK YOU, JOY. THANK YOU MAYOR TURNER, YOUR LEADERSHIP, YOUR ADMINISTRATION, THANK YOU TO YOUR OFFICE, YOUR CHIEF OF STAFF, HEATHER, YOUR TEAM, FABULOUS TEAM. UH, WONDERFUL TO WORK WITH THEM. I REALLY WANNA SAY ON BEHALF OF COUNCILOR POLLARD, THANK YOU FOR ALL THE COMMITMENT, THE CONTRIBUTIONS, THE PATIENCE IT TOOK TO GET TO THIS POINT TODAY. AND, UM, IT'S MY HONOR AND PLEASURE TO, UH, HOPEFULLY END DISTRICT J TO SEE IT'LL BE FULL PRETTY SOON. AND, UM, WE WANNA WELCOME THEM JUST IN A COUPLE DAYS. SO I THANK YOU AGAIN FOR ALLOWING US TO BE OUT HERE. THANK YOU FOR HAVING ME. JOY, THANK YOU FOR YOUR HOSPITALITY, YOUR GENEROSITY AND YOUR SUPPORT. THANKS TO BE HERE. WE ALSO HAVE WITH US BRAMLIN, WITH NATIONAL EQUITY FUND. MARK VIC IS ALSO HERE TODAY AND AND, AND I MEANT IT, THEY'VE BEEN FRIENDS OF OURS WHEN WE HAD FAR FEWER FRIENDS THAN WE DO TODAY. WE ARE BLESSED WITH A LARGER CROWD TODAY THAN WE HAD AT THAT TIME. AND RENA, THANK YOU SO MUCH FOR BEING HERE AND FOR SPONSORING THIS EVENT. THANK YOU. THANK YOU EVERYBODY. UM, I'M HERE REPRESENTING NATIONAL FUND AND I'M HONORED TO BE HERE TODAY. THANK YOU, JOY. THANK YOU TO THE NEW HOPE TEAM. THANK YOU MAYOR FOR EVERYTHING AND ALL THE INVESTMENT THAT YOU MAKE IN THE COMMUNITY. WE ARE A TAX, A NOT-FOR-PROFIT TAX ACCREDIT, SYNDICATOR. WE'VE BEEN AROUND FOR 36 YEARS AND THE PARTNERSHIP AND OUR MISSION AND OUR SHARED VALUES THAT WE SHARE WITH NEW HOPE OR WHAT BROUGHT US TOGETHER, AND JOY MENTIONED NEW HOPE HOUSING RE YOU CANNOT UNDERESTIMATE WHAT IT TOOK TO GET NEW HOPE HOUSING RE DONE. WHAT, UH, WHAT WHAT JOEY IS NOT TELLING YOU IS THAT I'M GONNA TELL YOU THAT IT WAS 2009, WE HAD A FINANCIAL HOUSING CRISIS. IT WAS SO HARD TO BE A DEVELOPER IN GENERAL, BUT AN AFFORDABLE HOUSING DEVELOPER AND A FIRST TIME HOUSING DEVELOPER WAS, DEALS WERE NOT GETTING DONE. BUT JOE HAGAN, STU JESTER AND, AND, UM, NEF MET JOY AND SAID, JOY AND NEW HOPE CAN DO THIS. WE HAD, AND WHEN OTHER DEALS WEREN'T GETTING DONE, NEW HOPE HOUSING UP, UPGRADES GOT DONE. AND THAT WAS BECAUSE WE SAID WE SAW THIS, WE SAW A FUTURE. THAT'S WHAT WE DO AS A NOT-FOR-PROFIT INDICATOR. WE DO SOMETIMES THE DEALS THAT OTHERS WON'T DO, BUT IN EXCHANGE, WE MADE A HUGE, UH, INITIAL INVESTMENT THAT IS JUST NOW IS 11 DEALS TOGETHER, , WE'RE GONNA CLOSE NEW HOPE HOUSE AND ENNIS ON BEFORE THE END OF THE YEAR, I PROMISE. AND, AND HOPEFULLY THERE'LL BE ANOTHER COUPLE COMING UP IN THE, IN A COUPLE IN THE NEXT COUPLE YEARS. BUT NEVER, EVER, EVER UNDERESTIMATE JOY IN THE TEAM AT NEW HOPE HOUSING BECAUSE PERSISTENCE, HARD WORK, PATIENCE, DEDICATION, IT TAKES A VILLAGE, BUT IT TAKES HARD, IT TAKES MISSION US. WE REALLY APPRECIATE THAT AND I'M SO HONORED TO BE YOUR PARTNER. AND, UM, THANK YOU FOR AND TO THE RESIDENTS WHO ARE GONNA WALK INTO THEIR NEW HOMES, CONGRATULATIONS AND ENJOY. WE'RE GLAD AND SO HONORED TO BE A PART OF THAT. THANK YOU SO MUCH RENA. AND, AND WENA ALLUDED TO THE FUTURE. AND BY THE END OF THIS YEAR, WE WILL HAVE BROKEN GROUND ON THREE NEW DEVELOPMENTS WITH MORE THAN 400 ADDITIONAL UNITS, UH, ADDITIONAL AFFORDABLE, AFFORDABLE UNITS. SO I THINK IT'S TIME TO CUT THE RIBBON. AND OUR BOARD CHAIR, KEN VALICK, IS GOING TO HELP USHER US IN THAT DIRECTION. THANK YOU, KEN. THANK YOU JOY. UM, AND THANKS TO EVERYONE. I'M GONNA KEEP MY COMMENTS BRIEF BECAUSE, UH, IT'S TIME TO CUT THE RIBBON. THERE'S FOOD, BUT IT'S A BEAUTIFUL DAY. THE ASTROS WON. BUT MOST IMPORTANTLY, NEW HOPE HOUSING IS OPENING THIS INCREDIBLE COMMUNITY. AND AS I LISTENED, I, THERE'S NOT A LOT I COULD ADD TO WHAT EVERYONE SAID, THE THE MAYOR, JOY, OTHERS. BUT A COUPLE THINGS HERE. THE WORDS THAT ALWAYS RING TRUE TO ME IS ONE, THESE ARE, THEY AREN'T NOT UNITS, THEY'RE NOT REALLY APARTMENTS, THEY'RE HOMES. THESE ARE THESE RESIDENCE HOMES. AND AS OUR BOARD CHAIR EMERITUS, MC FELLER LIKES TO SAY, THEY'RE NOT JUST RESIDENTS, THEY'RE SOULS. AND SO WE'RE GIVING THESE SOULS A PLACE WHERE THEY HAVE A HOME. AND AS MAYOR TURNER SAID, MOST IMPORTANTLY, LOVE AND THANK YOU TO ALL [00:20:01] THOSE WHO MADE THAT POSSIBLE MAYOR, WE'VE BEEN FRIENDS FOR A LONG TIME NOW, BUT EVERYBODY AT THE CITY OF HOUSTON, YOU KNOW, THANK YOU. WE REALLY APPRECIATE IT. I DO HAVE TO RECOGNIZE TOO, UH, MARIAN FREEMAN WITH YOLANDA JONES OFFICES HERE TOO. I DON'T WANNA MISS HIM, BUT THANK YOU FOR YOUR SUPPORT. UH, T-D-H-C-A, MR. VASQUEZ, MY GOOD FRIEND WHO'S WEARING HIS ASTROS PIN. I'M WEARING A NEW HOPE PIN , BUT THANK YOU. WITHOUT YOUR SUPPORT, IT WOULD BE THERE. AND THEN A NATIONAL EQUITY FUND, THEY'VE BEEN A BELIEVER. UM, THESE DEALS ARE NEVER EASY. THERE'S COMPLICATIONS. THEY GET THROUGH IT ALL, AND THEY'VE BEEN SUCH A GREAT PARTNER WITH NEW HOPE. WE TRULY APPRECIATE YOUR HELP. AND THEN THE, UH, FELLOW BOARD MEMBERS, IF YOU'RE A NEW HOPE HOUSING BOARD MEMBER OR FORMER BOARD MEMBER, RAISE YOUR HAND, PLEASE. THANK YOU TO ALL OF YOU. AND THEN NUMBER ONE, IT AMER SAID IT AND TAKES DONORS. IT TAKES A LOT OF EFFORT, BUT IT TAKES A TEAM THAT REALLY CARES AND IS DEVOTED. AND THAT'S THE NEW HOPE HOUSING TEAM LED BY JOY. WE HAVE TO SAY. THANK YOU, JOY. WHAT YOU'VE DONE TO HELP INDIVIDUALS SOULS IN HOUSTON TO PROVIDE THIS HOUSING IS JUST INCREDIBLE. AND IT'S GONNA BE WHAT YOU'VE DONE HERE, THIS BEAUTIFUL BUILDING. I'M JUST GONNA LIVE ON FAR AFTER ALL OF US HAVE MOVED ON TO OTHER ACTIVITIES. FINALLY, UM, I WOULD LIKE TO SAY ONE MORE, SEE IF I MISSED HERE, BUT, UM, THEY GAVE ME A FEW FACTS ABOUT GULFTON SHARPSTOWN THAT I WANTED TO SHARE. GULFTON IS THE MOST DENSELY POPULATED COMMUNITY IN HOUSTON. HOME TO 40,000 RESIDENTS. ONE OF THE MOST CULTURALLY DIVERSE, OVER 50 LANGUAGES ARE SPOKEN HERE. LARGE HISPANIC POPULATION FOR IMMIGRANTS FROM MEXICO, CENTRAL AMERICA, LATIN AMERICAN, BUT ALSO A LOT OF MIDDLE EASTERN COUNTRIES. AND THIS SOUNDS BAD, BUT I ACTUALLY DO COME DOWN HERE TO EAT AND THERE'S REALLY GREAT RESTAURANTS AND ETHNIC RESTAURANTS HERE. SO IT'S GREAT. AND THEN, YOU KNOW, NEW HOPE'S PART OF THIS COMMUNITY. WE'RE OPEN DALE CARNEGIE RIGHT DOWN THE STREET IN 2020 AND NOW THIS NEXT COMMUNITY SAVOY. SO WE'RE HAPPY TO BE PART OF THE COMMUNITY. AND WITH THAT, I THINK WE'RE GONNA CUT THE RIBBON. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.