Wilco B2B

GENERATIONAL EXPERTISE

AND RUPE

Abby specializes in Bankruptcy Law

SPECIAL

BONDS

Business to Business News Impacting Central Texas

Publishers

Michael Payne • Catherine Payne

General Manager

Camy Reynolds

Senior Strategist Officer

Tammy Young

Executive Editor / Writer

Ann Marie Kennon

Senior Writer

Charlotte Kovalchuk

Columnists

Economic Development • Dave Porter

IT • Ben Lake

State of the State • Thomas Graham

Strategic Thought • Jodee O’Brien

Videography

Rudy Ximenez

Photography

David Valdez · Rudy Ximenez

Christianna Bettis

Graphics

Sandra Evans • Ann Marie Kennon

Zion Easton

Distribution

David Schumacher

IT/Webmaster

Jesse Payne

Consultant

W. Ben Daniel

Public Relations

Janet Hage

Director of Sales

FROM THE PUBLISHERS

Welcome to another exploration of the dynamics of county business, and pivotal political and economic developments that shape our region. I trust you've noticed the magazine's new title, a change born from reflection and a refreshed commitment to ensure our magazine more accurately mirrors our steadfast mission. As always, we focus on delivering news and information in a manner that speaks to the heart of Central Texas but also empowers on a personal level.

In this month’s cover feature, we introduce you to father and son developers who've made a remarkable footprint in our local business community. Their story, rife with an unyielding spirit of entrepreneurship, underscores the myriad ways in which those who are drawn to Texas prosperity enrich our regional tapestry.

We delve into the labyrinth of the Texan convenience store market with a narrative that traces the success of QuikTrip, which has landed on a recipe for success in a market that is as vast and varied as Texas. Their story is a testimony to meticulous planning, strategic positioning, and the continual quest for excellence.

We also dive into the upcoming political decisions that bear significant weight on our collective future. A close examination of the constitutional amendments on the state ballot offers a window into the potential shifts in our governance, policy, and socio-economic management. Rep. Terry Wilson shares the intricacies, dissects the amendments, and provides a comprehensive analysis to help you make an informed decision at the polls.

At a more localized level, a pivotal road bond is surfacing on the county ballot so our local experts discuss potential changes in our infrastructure development and management.

Thank you for allowing us to continue bringing you stories of grit, innovation, and decision-making. You can also count on us to be consistently engaged with relevant influencers and the myriad activities vital to preserving the property rights of the citizens of the great state of Texas.

Michael Payne

Catherine Payne

BLUEPRINTS AND BELIEFS

A FATHER-SON LEGACY OF COMMUNITY AND CONNECTION

Father and son Vipul and Rupe Gopani are the embodiment of the American Dream. As owners of OM Properties and Blue Acre Development respectively, they are equally hard at work in Williamson County building relationships and elevating property values. Both have the passion for recognizing trends and transforming raw land into thriving developments in Central Texas and have become well-respected figures, delivering high-quality, sustainable development projects that meet the needs of residents and businesses alike.

FORGING THE PATH

Born and raised in Ethiopia, Vipul came to the United States in 1984 with $11,000 in his pocket and a clear objective: education. He attended the College of Staten Island and subsequently earned his degree in public accounting from Pace University in New York City. He spent six months gaining valuable experience at an accounting firm, then made the bold decision to venture out on his own and embrace the path of entrepreneurship.

Out of respect, he called his father in India, which, at the time cost $3 per minute, and explained his decision to quit his job. Vipul says, “I was anxious because I spent five years in college to qualify for the job I had.” He was relieved to hear that his father supported his decision, and it was all he

VIPUL MOVED TO TEXAS WITH THE INTENTION OF RETIRING BUT STAYED TO EXPLORE REAL ESTATE OPPORTUNITIES AFTER RECOGNIZING THE REGION'S GROWTH POTENTIAL. RUPE, INSPIRED BY THE OPPORTUNITIES IN TEXAS, LEFT HIS PRESTIGIOUS JOB ON WALL STREET TO JOIN THE FAMILY'S REAL ESTATE DEVELOPMENT BUSINESS IN TEXAS. BOTH FOUND TEXAS TO BE A PLACE WHERE THEY COULD MAKE A MEANINGFUL IMPACT IN THE REAL ESTATE INDUSTRY AND THE LOCAL COMMUNITY.

Rupe Gopani

Vipul Gopani

by Ann Marie Kennon • photos by RSX Studios

needed to take the first step. He says, “I realized education is about more than just mathematics and sciences—it extends to understanding what is right and wrong, the dynamics of social culture, and the art of interpersonal interactions. To succeed, one must skillfully navigate and manage these diverse elements, as they are essential for building effective and harmonious relationships.”

FIRST STEPS

During college, Vipul's first job was overseeing operations at a newsstand kiosk and safeguarding the timely delivery of the daily papers. “The newspapers were delivered early,” he says, “and I was there every day at 4am to make sure they weren’t stolen.” Once on the path, his entrepreneurial spirit led him to seize an opportunity in the retail industry by purchasing a Hallmark cards and gifts store. With his tremendous work ethic and management skills, he quickly mastered the details of the operation and expanded his foothold in the market with additional Hallmark brand stores, then founded his own party goods enterprise in Connecticut.

As his party goods franchise grew, a pivotal question arose: “Does it really reflect good business sense to rent properties forever when I can own my own real estate?" In that moment of introspection, he recognized the anxiety brought on by lease renewals and escalating rates would not be necessary if he owned the land and buildings himself. That realization was

the driving force behind his decision to venture into real estate development; “And before you know it, I’m in the Tri-state Area buying properties and developing my own commercial real estate for our stores.”

His real estate ventures prospered and by the time his children were preparing to go to college, Vipul was ready to retire and see the world, so he sold his party goods stores to a publicly listed company.

After the sale, Vipul says, he had every intention of retiring, seeing exotic places, and doing new things, but his first thought was to travel to Austin with his wife, Sangita, to spend time with her mom and family. Their plan was to stay for about six months but they enjoyed Central Texas and ended up moving here permanently in 2018.

As the region was in the early stages of its current population growth, it wasn’t long before people began asking him about real estate investments. He says, “My background in finance and real estate put me in a great place to give advice about how people could invest and maximize returns. Before I knew it, retirement was behind us, and we never looked back.”

Vipul is anything but regretful about the decision to continue working in real estate and development. “Money doesn’t motivate me,” he says, “but people, impact, and the projects we develop certainly do. It’s not about the profit, it’s about how we can make things nice for other people and build long-term relationships.”

FOLLOWING THE PATH

Vipul’s son Rupe was born when the family lived in Connecticut. “My parents worked extremely hard when I was growing up. I remember them working many 12-to-14-hour days,” he says. “They set a good example and I was always surrounded by business, which instilled a great work ethic in me and my sister. Our parents didn’t take weekends off and the only days the stores were closed were Thanksgiving, Christmas, and New Year’s Day. Christmas was my favorite because we were all off and got to enjoy family time.”

Growing up, Rupe’s father believed in the American public education system but, being an ambitious teenager, Rupe decided he wanted to attend Hopkins School, a day school founded in 1660 and ranked 18th among private schools in the nation. “We had family friends who attended. They raved about how the education was based on what drives you,” Rupe says. “I wanted to get into a good college and have a good career and I knew Hopkins would get me where I wanted to be.” Vipul and Sangita attended the interview, thinking it was perhaps a long shot, and the family settled into waiting for news. “Long months went by but when I got in, everyone’s jaws dropped and then we started worrying about how we were going to pay for it.”

Despite their concern about acceptance, Rupe did well at Hopkins and says it was a great experience, particularly his time on the varsity golf, swim, and water polo teams. “I loved water polo because I was a good swimmer, and it was a team sport played in water.”

As he hoped, Rupe was accepted at a top-ten business school—New York University Stern School of Business. He studied finance and economics and was awarded several superlative summer internships. After his freshman year, he immersed himself in the dynamic environment of the tech industry at a San Francisco-based startup. Following his sophomore year, he remained in New York City to delve into finance and investment while working for a prominent hedge fund. Simultaneously, he was invited to work in wealth management at Met Life.

He received an intriguing offer to postpone his education and work for Met Life full time, but remained steadfast in his desire to acquire more and diverse experience to determine what he truly wanted to do in the real world, so he returned to Stern to complete his degree.

After his junior year, he landed an internship with Barclays, further broadening his knowledge and skills in investment banking and rounding out his real-world experience. That opportunity led to a job offer from Barclays, specializing in rate and Foreign Exchange (FX) structuring.

Rupe’s goal at the FX structuring desk was to become an expert advisor helping corporate clients manage their foreign exchange risk using options. He built quantitative models to suggest trade ideas for hedge, mutual, and pension funds and says there were many high-pressure moments. The complex products and exotic structures left no room for error; “I had to be careful when pricing derivative products and called London often to find out what I was looking at. But I figured it out and became the go-to guy for that product.”

FORKS FORK IN THE ROAD

Rupe had no plans to live outside any major city limits and had a great career at the bank but when his father moved to Georgetown, he did buy a ticket to visit and attend SXSW. “My dad had just begun coming out of retirement and was starting the Vista 29 project, his first development on raw dirt, and he suggested I come visit the site while he met with his team members and communicated his vision. As he was laying out his vision for the property and where the buildings should go, I realized how out of place I felt wearing dress shoes among the scrub and overgrown trees. But, I was always passionate about investment and business so, inside, I was captivated by the idea of turning that dirt into something beautiful. I was excited about the impact it would have on the community and amazed at the potential of that raw land site.”

Rupe says watching his father talk to engineers and general contractors about his vision was intriguing. “I was fascinated by the experience and the process was more than just real estate, it was entrepreneurship and working with a team to make something a reality. My dad said I could always go back to New York but perhaps I should think about coming here to start my own development company.” Vipul, nodding, says “I told him I would support his career change, like my father did for me.”

After six long years in the center of American Finance and following his SXSW trip, Rupe decided to leave his prestigious job on Wall Street to take his father’s advice and become an entrepreneur. He says, “It wasn’t as much of a risk at 24 years old as it would have been at 40. I knew at my age I could work 24-hour days just to make it happen.”

He adds, “My bosses were baffled and said, ‘You’re moving where?’ They said it was perhaps expected that I might move to California and join a venture capital group but not Texas. Still, I had always been interested in being a business owner and was inspired by my father and grandfather—really the entire family—to work hard.” He insists the strength of his childhood memories still drives him to have a great work ethic and an interest in business. “My dream was always to be an entrepreneur and I expected to be as much on Wall Street. I just ended up doing it in a different industry.”

CONVERGING IN TEXAS

Rupe says his arrival in Texas felt right. He chose Georgetown for his home and had his parents’ support to make the change. He was content to work with the idea that he didn’t know everything because his dad would certainly fill in the gaps.

"You don't often hear about the humbling moments and simple challenges of first starting a business. Little things, like the moment of clarity that came when I first set up my business email. I stared at my empty inbox realizing I wasn't going to get any emails because no one knew who I was yet—I didn't have any land or development projects waiting for me. I was going to have to work to bring this business to life and make my dreams a reality. Just forming an LLC wasn't enough to call myself an entrepreneur so I spent the first six months forming my team, building relationships, and getting a deeper understanding of the local area.”

As a mentor, Vipul helped Rupe get his bearings and the two adopted a conservative approach, focusing on one project at a time. After assembling a top-notch team, Rupe started work immediately on a single commercial development. “One project was certainly not going to be enough for me,” he says. “I knew what I gave up in New York and I wanted to capitalize on every opportunity.” As a result, his first project quickly evolved into multiple ground-up construction projects spanning retail, office, and industrial space. “I was inspired by all the growth I was seeing in Williamson County. I also took note of the quickly changing demographics in the suburbs: populations were growing faster than anticipated, more people were moving in from out of state, and incomes were rising. This was creating a need for higher quality commercial real estate, and in certain areas, a more modern design aesthetic.”

In 2021, he saw an opportunity created by extremely low, pandemic-driven housing inventories. “There was a growing need for more affordable housing options, and a growing interest in lifestyle-oriented residential

developments so I decided to expand Blue Acre into residential development as well.”

Despite numerous headwinds—COVID-related shutdowns of small businesses and construction, material and labor shortages, and rising interest rates—Blue Acre has grown rapidly since 2021. Rupe attributes his success to having high integrity, a great team, and thinking long term. "I believe integrity is extremely important in business and in life. High-character people gravitate toward other high-character people. This helps me build relationships and partner with the right people, resulting in a great team. No one achieves success alone, and I'm grateful to everyone that I work with."

Believe in yourself, think long term, and never compromise your integrity.

~ Rupe Gopani

LONG-TERM STRATEGY

He also finds long-term thinking to be a substantial strategy. "By focusing on long-term success, I was never tempted to deviate from my investment criteria or engage in speculative activity. I was constantly thinking about the future and trying to create long term value. It also caused me to prioritize building relationships, being a responsible citizen, and having a positive impact on my community."

While they live in and operate separate development companies in Georgetown, the Gopanis are of one mind when it comes to community engagement, making connections, and promoting economic growth. Both companies strive to maximize benefits to the community while minimizing environmental impact in all their design and construction practices.

Vipul, the creative one, often does his own designs. “I don’t buy things because they’re cheap. I look at a property in terms of what can I do with it and the impact I can make in the community with the project.”

OM PROPERTIES

Vipul’s OM Properties has impressive projects and is known for its ability to navigate complex zoning and regulatory issues, manage construction projects, and negotiate with stakeholders to ensure the success of each project. As well, a commitment to sustainability is evident in all OM Properties’ projects. Guided by this principle, Vipul is currently preparing to break ground on his latest endeavor, The Preserve.

Nestled along SH 29 in Georgetown, this visionary project emerged when Vipul noted that despite the presence of nearly 50,000 homes, the area lacked an inviting commercial space that could serve as a vibrant neighborhood center. Understanding typical community needs, he began a mission to create a place where individuals could integrate work, dining, and recreation close to their homes. The result: The Preserve design includes 18 buildings that will accommodate retail and restaurant establishments, Class A office space, and creative flex space.

When developing The Preserve, he sought the expertise of an international designer, who initially proposed an 80,000-square-foot plan for the property. However, upon careful evaluation, Vipul realized that the proposed design did not align with his vision. He sought further input from a civil engineer, who suggested a plan for 120,000 square

feet. Despite the increased size, Vipul remained unsatisfied and spent a week personally crafting a design that spanned 200,000 square feet and preserved every heritage tree on the property. "We want our products to be part of nature,” he says. “It is particularly important not to destroy nature where it is." In creating a design that sidestepped the need for costly tree mitigation fees, Vipul saved the company hundreds of thousands of dollars. With blueprint in hand, he conveyed his vision to his consultants, then explained how they could all go about building it without sacrificing any elements of the indoor/outdoor workspace.

Vipul emphasizes, "We are acutely aware that this development is, above all, a neighborhood. Consequently, we will not put any tall buildings near residential areas." Rupe wholeheartedly agrees, underlining their shared conviction: "Our deep-rooted care for the community stems from the fact that we are an integral part of it, as our families live and thrive in Georgetown too."

BLUE ACRE DEVELOPMENT

VIPUL'S COMPANY, OM PROPERTIES, FOCUSES ON COMPLEX REAL ESTATE PROJECTS WITH AN EMPHASIS ON SUSTAINABILITY. HE IS CURRENTLY WORKING ON THE PRESERVE, A VISIONARY COMMERCIAL PROJECT.

BUILDING IN WILCO

Rupe has amply proven that his move from New York City was the right one as Blue Acre Development has already gained the respect of the Central Texas community. With an eye on changing demographics, and a strong track record of visionary projects, including residential and commercial developments, mixed-use properties, and urban revitalization projects, the company is playing a part in facilitating future growth in Williamson County.

Like his father, when engaging with investors, Rupe’s focus extends far beyond immediate profits. Rather, he prioritizes building and maintaining partnerships that align with his long-term vision. He says, “It's not solely about financial gains; it's about cultivating sustainable development and leaving a positive, lasting impact on the community I call home.”

As he navigates the Central Texas landscape, Rupe remains rooted in the local market, consistently creating a robust pipeline of projects that will contribute to the region's growth. As such, Blue Acre has built a significant portfolio of commercial and residential assets. The company has seven active development projects in the pipeline (at right), and is currently developing more than $100 million in real estate.

Among the strategies he employs, Rupe pays attention to how population characteristics are changing in Central Texas. He has observed that Williamson County, like the design and architecture he loves, changes with the times. As such, he is currently managing projects in Round Rock, including an office condominium at Gattis School Road that goes against the grain a bit in its aesthetic. “I noticed there is a design shift taking place,” he says. “The condos in the broader office park incorporate a lot of stone and have a residential look and finish. But, studying the demographic data, I realized people are moving here from the east and west coasts and their design appetite is different. They want a more commercial finish, so we are trying to cater to that and be a good fit for the people and companies that are relocating here.”

Blue Acre gave its new buildings an elevated modern look that has been well received. The feedback on the new aesthetic was fortunately reflected on the bottom line as they sold out before the project was even finished, and the company has since come into a lot of new opportunities.

Vipul agrees with Rupe’s sense that in this industry, it is not always true that “if you build it, they will come.” “It’s about what the customer wants and will pay for, and we are always building with an eye on what will be appropriate or optimal in the next three to four years. No one would have looked at Liberty Hill in 2018 and chosen to build multi-story office buildings but it is happening now, and quickly. Ten years ago, who would have thought Georgetown could support $3 million homes, but they are there, and they are selling.”

BLUE ACRE DEVELOPMENT

CURRENT PROJECT LIST

 Center at Gattis located at 2261 Gattis School Rd, Round Rock, TX 78664 ~31,000sf of Class A Office Condo Space

 Enclave at Palm Valley located at 2800 E Palm Valley Blvd, Round Rock TX 78665 ~20,000sf of Class A Retail/Restaurant Space located across the Kalahari Resort

 1890 Commerce Park at 1890 N AW Grimes Blvd Round Rock, TX 78665 ~115,000sf of Class A Office Warehouse Space across 9 buildings

 127 Old Luling Rd, Lockhart, TX 78644

 200+ Single Family Home community on 50 acres

 3965 FM 3061 Thorndale, TX 76577

 Creating a 100% sustainable, zero waste farmhouse community ~50 Single Family Homes on 63 acres

OM PROPERTIES

CURRENT PROJECT LIST

 Vista@29 located at 9073 W Hwy 29, Liberty Hill TX 78642 ~110,000sf of mixed use commercial space across 6 buildings

 2 retail buildings and 4 multi-story office buildings

 The Preserve @ 29 located at 3701 SH 29, Georgetown • 210,000sf of mixed use commercial space across 18 buildings

 5 retail buildings

 7 office flex building

 6 class A multi-story office buildings

BUILDING ON REPUTATION

YOU DON’T SACRIFICE PROFIT BY DOING THINGS THE RIGHT WAY. THE PROFIT WILL COME BECAUSE PEOPLE WILL KNOW YOU BY YOUR REPUTATION AND THINGS WILL BE PRE-SOLD BECAUSE OF IT.

Despite their commercial success, where the Gopanis really shine is in relationships. They prioritize community engagement and work closely with local stakeholders to ensure their projects promote economic growth and community development. Rupe says, “People in Texas are friendly and open, and it was easier to cultivate a network here than in New York City. You simply have to be genuine to be accepted here.”

Vipul says one of the challenges is the pushback he often gets from residents

about light, pollution, and traffic. As a resident of Georgetown himself, he cares about the community and reiterates that his work is primarily about impact and not profits. He explains, “We live here and develop here—all our projects are local. The Preserve is a commercial building surrounded by many homes so to reinforce my desire for community appreciation over profit, I met with HOAs around the project personally. At the end none were against it. It is crucial to remember that while

profits will come, being well received is how you stay in business."

With that in mind, Vipul is proceeding to develop 20 acres without removing any heritage trees and adds, "Having $6,000 in tree mitigation for a $50 million project—even City Council recognized our approach as exemplary and said this is the way all commercial developments should proceed."

THE GOPANIS ARE GOOD PEOPLE AND WE ARE THRILLED THEY ARE BUILDING RETAIL AND OFFICE SPACE ON SPEC, WHICH IS A VERY BRAVE THING TO DO RIGHT NOW. OUR CITY APPRECIATES IT BECAUSE WE HAVE FOLKS LOOKING TO MOVE TO GEORGETOWN RIGHT NOW AND MOST OF THEM NEED TO BE IN 'TOMORROW' THEY DON’T HAVE TIME TO WAIT FOR BUILDINGS TO BE BUILT. HAVING COMPANIES LIKE OM AND BLUE ACRE WILLING TO BUILD FIRST AND WAIT FOR THE USER TO GET HERE IS A HUGE ASSET FOR US. WE ARE HOPEFUL THAT THEIR REPUTATION AND PLANNING WILL WIN OUT AND BEFORE THEY EVEN GET EACH BUILDING FINISHED THEY’LL HAVE A BUYER OR LESSEE. IT’S A GREAT FIT FOR US. ~GEORGETOWN MAYOR JOSH SCHROEDER

THE GOPANIS ADVOCATE FOR A COLLABORATIVE APPROACH IN THE REAL ESTATE INDUSTRY AND EMPHASIZE FINDING SOLUTIONS OVER ASSIGNING BLAME WHEN CHALLENGES ARISE.

~ VIPUL GOPANI

ADVISING FROM SUCCESS

THE GOPANIS REPRESENT THE TYPE OF WORLD-CLASS DEVELOPMENT THE BUSINESS COMMUNITY IN WILLIAMSON COUNTY IS SEEKING DURING THIS UNPARALLELED PERIOD OF GROWTH. COMBINING STATE-OF-THE-ART DESIGN CONCEPTS WITH OUTSTANDING ENVIRONMENTAL AND AESTHETIC INTEGRITY, THE EXTRAORDINARY SUCCESS OF THEIR PROJECTS IS EVIDENT BY THEIR CONSISTENT GROWTH THROUGHOUT CENTRAL TEXAS. ~WILLIAMSON COUNTY JUDGE BILL GRAVELL

Drawing from their diverse backgrounds across multiple industries, Vipul and Rupe share a crucial belief: business owners and executives should never assume others will generate profits on their behalf. With a blend of authority and paternal wisdom, Vipul emphasizes, "Shame on you if you don’t take care of your own business. Simply put, don't shy away from getting your hands dirty. Bosses, including me, make mistakes and I only hope to have someone there to help and not blame me. Merely assuming someone else will fix the problem is insufficient. When a team member falters, we believe in treating him or her with respect and we don't believe in kicking people when they're down or magnifying their mistakes. Instead, we extend a helping hand, provide support, and give encouragement."

Rupe echoes his father's sentiment, reflecting on the lessons learned from observing Vipul's relentless work ethic in his venture businesses. "Delegate, but avoid micromanaging. To this day, we both run our companies by staying well-informed in every aspect of the business. No one will have the same level of dedication that we do, so maintaining active involvement is paramount."

Recognizing the significance of collaboration, Vipul and Rupe acknowledge most successful ventures in the business world hinge upon strong relationships. Rupe emphasizes, "No developer can do it alone. When challenges arise, people we’ve met in this business often resort to blame or threats of litigation, revenge, or retribution. Our approach is fundamentally different. We view everything as a team effort and prioritize finding solutions above all else.”

As well, the Gopanis believe in having and supporting capable employees and partners who connect the dots for their teams. Rupe says, “Merely scolding or assigning blame won't solve the problem. Instead, we emphasize the importance of a proficient engineer, a skilled general contractor, and a talented architect. The key is to make sense of the situation and focus on moving forward, and we never throw a contract in someone’s face. Rather than fixating on assigning fault, our

aim is to discover solutions and have post-mortem discussions to prevent similar issues in the future. As a result, and this is what everyone should strive for, I can call anyone any time they take my call and ask what they can do for me.”

THE ROAD AHEAD

The Gopanis firmly believe adapting to the evolving times is crucial for maintaining good business sense, not just for developers but municipalities as well. Rupe explains, “When we looked at our long-term prospects, we skipped Leander and went right to Liberty Hill because we had heard Leander could be challenging to work with.” Vipul adds, “Cities should not be overtly assertive and tell developers what to do. Explosive growth, typically, has less to do with government than with good business and good schools. Municipalities should, then, allow the private sector to determine what is right for the community. People, after all, are the private sector.”

Rupe goes on to emphasize the importance of being attentive to changing preferences and adjustments in what people desire. He asserts, "We must remain mindful of these shifts to ensure we meet the evolving needs of our customers." Vipul wholeheartedly agrees, envisioning a long-term trajectory. "This is merely the beginning for us, and the trends indicate that in 20 years, approximately 30 percent of the population in Williamson County will be Asian. With that in mind, it is unreasonable to expect to remain successful if we remain stagnant. Still, our objective is not to alter the lifestyle landscape but to facilitate the community's growth in a positive manner. In light of that, we will continue to strive to understand the organic growth happening around us and find ways to cater to those needs."

Scan the codes to read more about OM Properties and Blue Acre Development.

by Ann Marie Kennon

QuikTrip It's a Texas Lifestyle

The American landscape is dotted with convenience stores, but few have garnered as much trust and admiration as QuikTrip.

In the Austin metroplex, there are 29 stores currently and 20-30 in various stages of development. Those help make up the family of 100-plus stores in Texas and all stand as a testament to business innovation and customer-centric strategy.

The convenience store sector, especially when amalgamated with gas stations, has historically not enjoyed a blue-ribbon reputation. Many gas stations failed to evolve, offering minimal convenience and lackluster customer experiences. However, QuikTrip, under its family leadership, has consistently risen above the stereotype. Spanning 17 states with close to 1,000 outlets, this brand has positioned itself not just as a pit stop for road travelers but as a daily necessity for many.

A Brief Look Back

Founded in 1958 in Tulsa, Oklahoma, QuikTrip’s inception was not just to enter the market but to dominate it by offering unparalleled value. Sixty-five years on, that principle remains intact. The store layout, the variety of products, and the unmistakable quality of service all speak of an unwavering commitment to being the best in the business.

A Modern Business Approach

QuikTrip’s success isn’t solely due to its historical roots. It is the company’s forward-thinking approach that has positioned them at the forefront of the convenience store industry. They have embraced technology, utilizing proprietary software for inventory and sales tracking, which helps ensure their product selection aligns with customer preferences and market trends.

The workforce—the backbone of any service-driven entity— is where QuikTrip specifically stands out. Mike Snyder, who has been a part of the company’s growth for nearly three decades, offers a window into the company’s ethos. Snyder says, “If you pay your people whatever it takes to keep them happy, you get people who operate in a way that makes customers happy to come back.”

When Snyder joined QuikTrip in 1994, it had a respectable 330 stores. As a college student aspiring to be an accountant, QuikTrip provided a great opportunity to pay for his education. At the time, accounting, despite its professional allure, didn’t guarantee a lucrative paycheck. QuikTrip, however, promised financial security, something most college part-time jobs could not boast. Snyder recalls, “Accountants didn’t make superlative salaries, and I was thrilled to earn more at QuikTrip.”

During his junior year, as his professor was describing the syllabus and prospective career trajectory for accountants—a potential annual salary of $60,000 after possibly a decade of relentless work—Snyder realized QuikTrip’s managers were already commanding such figures. “I found myself questioning the point of my academic pursuits. Why chase a future that I virtually already possessed?” Snyder says.

QuikTrip’s private ownership structure, shielded from the rigidities of public shareholding, has fostered a unique work

culture. The company is not a franchise, giving the owning family the autonomy to craft its organizational policies. One notable manifestation of this freedom is the company’s generous time-off policy. Employees, after demonstrating commitment and loyalty, are rewarded with significant periods of paid leave. Snyder is already looking forward to his 30-year mark, at which he will be entitled to a full month off with pay.

But it’s not just about the benefits. QuikTrip’s culture is fundamentally rooted in recognizing hard work. “It doesn’t matter where you come from or what your beliefs are. If you work hard, that’s what the company values,” asserts Snyder.

For Snyder, the journey from a college student to his current position as a real estate manager for QuikTrip has been transformative. Stationed at the company’s headquarters in Round Rock, his role now transcends conventional desk duties. Instead, he finds himself on the road, negotiating with landowners, collaborating with city officials, and scouting potential development opportunities.

For Snyder, consistency is key. Across the nation and the state, QuikTrip’s outreach goal is to be the place consumers take their kids when they win the soccer game or get a good grade. He says, “You’re not taking them to a gas station — it is family gathering place and is becoming the new Austin lifestyle.” He adds his belief that this will be more so the case after they have completed doubling the number of stores they have regionally. He explains, “My QuikTrip, the one by my own house, is identical to 95 percent of the other stores. Although sometimes our design is troublesome for municipalities that want something different to fit in with their city’s specific vibe. But we want people coming from anywhere to see our building and know immediately what it is. A QuikTrip in Texas should feel no different from one in Oklahoma. On the inside, every customer, regardless of location, should experience the same level of service and product quality.”

The Key to Longevity

With the landscape of consumer needs constantly changing, QuikTrip has demonstrated adaptability. Noting the shift in gasoline demand due to the growing volume of electric vehicles, along with decades of dwindling cigarette sales, the company adeptly shifted its focus from the traditional convenience store ‘cokes & smokes’ model to food offerings. Fresh salads, sandwiches, and pizzas have become their flagship products, drawing customers in not just for fuel but for quality food on-the-go.

Oasis Brand Identity

Innovation doesn’t mean losing sight of one’s identity. QuikTrip’s periodic store remodels are a testament to this philosophy. They ensure that every store feels modern yet familiar, striking a balance between evolution and brand recognition.

QuikTrip v. The Rest

In an insightful comparison, Snyder recognizes consumers today want healthier types of items on the road and places QuikTrip alongside other retail giants, highlighting the importance of the need for each to distinguish itself in the marketplace. He explains:

 Hooters’ restaurant model is often duplicated but never replicated.

 Buc-ee's does its own style of marketing and has superstore niche but I wonder if, in 20 years when everyone is running electric cars, will people still want to make a supersize stop at Buc-ee's?

 TXB has a lot of Texas merchandise, but not everyone appreciates the Texas brand, and local stores can’t depend on tourists for those purchases.

 Costco and Walmart sell Gatorade at low prices but both are a long stop and Costco doesn’t sell singles.

 Chuy’s always has a full parking lot when the restaurant is only half full. QuikTrip will always create more parking to accommodate a full restaurant.

 Cracker Barrel has it right a full parking lot means a full restaurant. QuikTrip makes sure to have enough parking for what we offer — 40-50 spots per store and adjusts as necessary.

Simply put, he says, “QuikTrip is like a re-imagined McDonald’s but with a gas pump attached.” It is this multi-faceted offering that makes QuikTrip stand out in a crowded marketplace.

Moreover, the company is an early adopter of providing health care at c-store facilities and Med-wise is a prime example of diversifying while leveraging their core strength exceptional customer service. By transferring their service-driven culture to a new domain, they aim to redefine the health care retail space. Snyder noted many patients, particularly younger ones, are drawn to the convenience of the same-day appointments and extended hours offered by their walk-in clinics.

The goal is to offer a respite from the daily hustle and bustle. Whether individuals are stopping by on their way to a crucial job interview, stopping in between job sites, or after a particularly stressful day, Snyder says QuikTrip is steadfast in its commitment to providing a warm welcome. With a reputation built on appreciation expressed by patrons for the exceptional service they receive, they strive to remain a friendly place to come home to while being part of a larger brand.

Snyder interestingly points out that their design philosophy focuses on the discerning female consumer, affectionately dubbed ‘the soccer mom’. As he says, “Men will buy a drink anywhere but women seek cleanliness, safety, and aesthetics. Our remodels are directed at ensuring our stores maintain these benchmarks.”

Looking forward, QuikTrip envisions healthcare as a strong pillar of their future strategy, operating it as a distinct segment but with the trusted QuikTrip brand ethos.

Rooted in Improvement

An intriguing business strategy that QuikTrip employs is not just aiming for higher profits but ensuring value for its customers. For example, according to Snyder, offering cheaper gas surprisingly boosts their profits because customers come for the cheap gas and stop inside for more. Such counter-intuitive strategies are rooted in their broader vision of long-term growth and sustainability.

Snyder, beyond his QuikTrip role, serves as a mayor of Hutto. His governance, inspired by QuikTrip principles, champions transparency, accountability, and judicious management of resources. His dual roles offer a unique perspective: the lessons from a successful business can be transformative when applied to public service.

QuikTrip’s journey is a masterclass in business evolution, adaptability, and customer-centricity. Its brand strength is evident in everyday stories – from a customer recognizing an employee due to a shirt logo to brand loyalty that transforms first-time visitors into lifelong customers.

For budding entrepreneurs and business stalwarts alike, QuikTrip’s story serves as a reminder of the power of consistency, adaptability, and always keeping the customer at the heart of every decision. It’s more than just a brand; it’s a business phenomenon. As Snyder aptly puts it, focusing on the long-term vision and ensuring the brand’s sustainability is the key to lasting success in an ever-changing market landscape.

Luxury homesites are selling now at The Canyons at HCH Ranch in Georgetown. Located off of FM 3405 in Georgetown in a private gated community, these heavily wooded home sites will offer expansive hill country views throughout. The Canyons at HCH Ranch feature luxury custom homes built exclusively by Grand Endeavor Homes. The Canyons is a place of unmatched natural beauty in the Texas Hill Country.

Experience Stunning Hill Country Views

Situated on some of the most scenic land in Williamson County, The Canyons rests atop rolling hills looking out over the vast landscape. Offering an abundance of natural beauty and lush vistas, The Canyons has been carefully planned to integrate seamlessly into the natural environment. The development of The Canyons pays homage to the rich heritage of the land and encourages the continuation of this existing beauty to create a timeless natural environment. The homes in The Canyons are considered part of a cohesive element that melds the natural beauty with a place to call home.

VITAL ISSUES FOR THE FUTURE OF TEXAS

“It is an honor to serve you as Texas State Representative for the 88th Texas Legislature. The regular and special sessions delivered on vital issues for the future of Texas.

The 2024-25 Texas budget will invest $50.4B in public education, $42.9B for public health, $9.3B in infrastructure investments, $5.1B for border security, and $5B in property tax relief from legislation passed in the 2019 legislative session.

I was honored to serve as Chairman of the House Committee on Defense & Veterans’ Affairs. The committee oversaw legislation to support veterans’ mental health, help military and veteran families obtain and transfer occupational licenses, and improve the position of Texas’s military bases for future Department of Defense base realignment, benefiting the Texas economy, military families, and their surrounding communities, all while supporting our national defense.

There is still work to be done, and you play a significant role. To protect the rights and authority of the people of Texas, the Texas Constitution requires that certain types of legislation receive authorization from the voters before becoming law.

This year, 14 propositions will appear on the ballot addressing issues from funding water, broadband, and higher education infrastructure to providing $12.7 billion in property taxes back to taxpayers.

When a bill comes up for a vote on the floor of the House, I always have a summary on hand with information on what the bill would do along with the ar-

guments for and against it. In this article I wanted to highlight for you five of the proposed amendments that I believe are both of particular importance and have my wholehearted support. For the other eight, I have included a summary and a list of comments from supporters of the propositions and their opposition.

PROPOSITION 4

PROPERTY TAX RELIEF

Property taxes are the main funding mechanism for local governments in Texas. Every year the chief appraiser for your county asses the value of your home or business to find its “market value,” or how much it would be worth on the market if you sold the property.

The chief appraiser then checks if there are any limitations on how much their official assessment of a property’s value can increase from one year to another, regardless of how much the market value may have risen. Once that cap has been applied, the resulting value is known as the “assessed value.” These restrictions are typically percentage limitations. For example, the assessed values of homesteaded properties are limited to a 10% increase each year.

Story and photos contributed by Rep. Terry Wilson R-TX20

Colonel Terry Wilson (USA-Retired) Representative TX-20

I wholeheartedly support Proposition 4. These changes would save the average homeowner $1,357 per year on school M&O taxes (based on the $331,000 median home price).

Once the assessed value has been found, the appraisal district applies any deductions or credits, reducing their assessment of the property to the final “taxable value”. For example, homestead properties currently receive a $40,000 exemption from school districts, causing their “taxable value” to be $40,000 lower than their “assessed value” for the calculation of the taxes owed to their local school district.

When your local school district builds their budget, they use a formula set by the legislature to determine how much funding they should receive based on the number of students attending schools in the district and the various needs of those students that make their education more expensive (ex. Career and Technical education courses require expensive equipment for students to train on that are not required for standard textbook only courses).

Once they determine how much funding will be required according to the formulas, they calculate the revenue that they could potentially collect from their Maintenance and Operations (M&O) property tax. In 2019, the 86th legislature capped M&O collections so that they cannot collect more than 2.5% more money in the current year than they collected the previous year from the set of properties they taxed that year.

If there is more money needed than the district can collect, the state will make up the difference out of “general revenue,” the main pool of funds the state collects from sales taxes and other state revenue. When the state wants to lower the level of property taxes charged by a school district, we change the formula so that we replace a certain amount of property tax revenue with general revenue funds, and the school district lowers its M&O rate accordingly.

As a result, the school district gets the same amount of funds, but the taxpayers pay less in property taxes. This process is known as “compression,” since it is lowering, or “compressing” the M&O tax rate down so long as the state continues to provide the funding needed to replace the reduced property tax revenue for the school district.

I wholeheartedly support Proposition 4. These changes would save the average a homeowner $1,357 per year on their school M&O taxes (based on the median home price of $331,000). It will provide businesses with much needed relief from unexpected tax bills if the value of their property increases in a short span of time, and it will allow voters a voice on the board of appraisers who determine the taxable values of their homes. I encourage all voters in Williamson County to make sure they get to the polls to support this measure.

PROPOSITION 4 WOULD MAKE THE FOLLOWING CHANGES TO THE PROPERTY TAX SYSTEM

IN TEXAS

 Increase the Homestead Exemption from $40,000 to $100,000

 Ensure homestead exemptions are applied equally to all homestead owners.

 Authorize the Legislature to provide for $12.7 billion in new M&O compression.

 Provide non-residential properties a 20 percent cap on increases in their assessed value.

 Limit the term length of appraisal board members to four years in counties with a population over 75,000 and allow positions on appraisal boards to be publicly elected.

 Exempt appropriations for M&O compression from counting towards the state’s “population + inflation” spending cap on general revenue, simplifying the process for providing more tax relief in the future.

I support the Texas University Fund because it will save taxpayers money in the long run and help grow the capacity of our state for economic and technological growth.

PROPOSITION 5 • TEXAS UNIVERSITY FUND

The establishment of the Public University Fund (PUF) has proven one of the most effective and beneficial decisions in the history of Higher Education in Texas. In 1876, concerned about their ability to make biannual appropriations for the University of Texas and Texas A&M University, the 15th Texas Legislature set aside a parcel of land to provide for the needs of the universities through rents, sales, farming, and whatever other means of return the investment managers could glean. That land turned out to be rich with mineral and oil deposits, which provided our higher education systems with the revenue needed to become what they are today.

Despite the overwhelming success of the PUF, 147 years later we have yet to create a similar model for the public institutions of higher education created since then, all of whom receive their state support directly from general revenue funds collected primarily from state sales tax.

While no funding system can ever expect to literally “strike oil,” the proposed Texas University Fund would

take us a step closer to relieving the burden of providing for vital portions of public higher education institutions from taxpayers. Specifically the Texas University Fund will provide resources for high-quality research at our universities that have raised at least $20 million in funding through private or federal research contracts, and have awarded a three-year rolling average of at least 45 research doctoral degrees per academic year.

Research universities are among the most powerful drivers of economic growth. Researchers set down roots and work to develop new technologies. Manufacturers that want to build products based on those new technologies want to locate near the people who know the technology best, bringing new jobs with them and helping fund education opportunities that keep the cycle of technological and economic progress moving.

I support the Texas University Fund because it will save taxpayers money in the long run and help grow the capacity of our state for economic and technological growth.

PROPOSITION 6 TEXAS WATER FUND

Diminishing water resources are the single largest barrier to Texas becoming the most populated and prosperous state in the nation. The Texas State Demographer anticipates that by 2050 Texas will eclipse California with a population of 54.4 million, nearly doubling our current 29.6 million in just 27 years. Providing water for that level of growth will require a great deal of investment and infrastructure.

Proposition 6 would provide for the creation of two new funds, the “New Water Supply for Texas Fund” and the “Texas Water Fund” to help provide funding for the water project Texas will require to meet those needs. The “Texas Water Fund” will provide local governments with low interest loans to finance water infrastructure projects needed to provide their populations with water. The “New Water Supply for Texas Fund” will be used by the Texas Water Development Board to secure and provide seven million new acre-feet of water supply for Texas by 2034.

Without a sufficient water supply, nothing else we do to grow our state and provide for future prosperity will matter. Proposition 6 is essential for the future of Texas, plain and simple.

WITHOUT A SUFFICIENT WATER SUPPLY, NOTHING ELSE WE DO

TO GROW OUR STATE AND PROVIDE FOR FUTURE PROSPERITY WILL MATTER. PROPOSITION 6 IS ESSENTIAL FOR THE FUTURE OF TEXAS, PLAIN AND SIMPLE.

Colonel Wilson meets with nurses from HD20 during Nurses Day at the Capitol, 2023)

PROPOSITION 8 BROADBAND INFRASTRUCTURE FUND

Business goes where there is infrastructure. As the cost of living and population density of Texas urban centers grows, the opportunity for new industry to locate farther out increases, but only if there is infrastructure for them to be able to operate effectively and for their workforce to be able to live there and thrive.

Rural areas of Texas are brimming with this potential with inexpensive land, good community values, and lower cost of living. However, any business looking to locate outside of urban areas would be hesitant to start operating in an area without access to modern information infrastructure.

Proposition 8 would create the Texas Broadband Infrastructure fund, which will invest $1.5 billion into rural broadband infrastructure over 10 years. Establishing this fund will also allow Texas to retrieve tax dollars paid to Washington DC via the federal Broadband Equity, Access, and Deployment program, which will match $4 for every $1 Texas invests in rural broadband.

PROPOSITION 9 COST OF LIVING ADJUSTMENT FOR TEXAS RETIRED TEACHERS

Texas Retired Teachers have long deserved the same type of Cost-of-Living Adjustments (COLA) received by other state retirees and social security recipients. Rising inflation and cost of living combined with restrictions preventing them from returning to work after retirement left many retired teachers struggling to choose between paying for necessary medication and feeding themselves.

Over the last six years, the legislature has worked diligently to improve the health of the Teacher Retirement System Trust Fund. In 2019, we took the fund from insolvency to being able to reliably provide current levels of benefits for the next 30 years. In 2021, we improved the fund’s health to prepare to provide a COLA and a single 13th check for those in greatest need. Finally, in 2023, the changes to the funds and levels of investment have finally reached levels that allow for a small, regular, COLA that will help adjust for inflation so that their pension does not evaporate just because the value of the dollars they are being paid goes down over time.

We owe it to our retired teachers to uphold our end of the bargain and provide the value in their pensions that they earned over a lifetime of providing Texas with the world-class workforce we have today.

IF YOU WOULD LIKE A VERSION OF THIS INFORMATION THAT YOU CAN TAKE WITH YOU TO VOTE AT THE BALLOT BOX, OR IF YOU HAVE ANY ADDITIONAL QUESTIONS, FEEL FREE TO CONTACT YOUR HOUSE DISTRICT 20 OFFICE BY PHONE AT (512) 463-0309, OR BY EMAIL AT TERRY.WILSON@HOUSE.TEXAS.GOV

ELECTION DAY FOR THESE PROPOSITIONS IS NOV. 7TH, 2023.

EARLY VOTING WILL RUN FROM MONDAY, OCTOBER 23RD UNTIL FRIDAY, NOV. 3RD.

APPLICATIONS FOR A MAIL-IN BALLOT MUST BE RECEIVED BY FRIDAY, OCT. 27TH, AND MAIL-IN BALLOTS MUST BE RECEIVED BY TUESDAY, NOV. 7TH, 2023.

FROM THE EDITOR: THE FOLLOWING TWO PAGES FEATURE LONG-FORM EXECUTIVE SUMMARIES AND REMARKS FROM LEGISLATIVE MEMBERS DURING PROCEEDINGS FOR NINE ADDITIONAL AMENDMENTS. WE URGE YOU TO PERUSE THEM IN FULL AS THEY OFFER A MORE IN-DEPTH EXPLORATION OF THE ISSUES THAN THE CONCISE DESCRIPTIONS PROVIDED TO VOTERS ON THE NOVEMBER 7 BALLOT.

PROPOSITION 1 (HJR 126, 88th Leg., RS)

The constitutional amendment protecting the right to engage in farming, ranching, timber production, horticulture, and wildlife management. Summar y Analysis The proposed constitutional amendment creates a new right for people to engage in generally accepted farm, ranch, timber production, horticulture, and wildlife management practices on land they own or lease. The proposed amendment does not affect the legislature’s authority to authorize state or local regulation of those agricultural practices when necessary to protect health and safety, animal health and crop production, or natural resources, or to use the power of eminent domain.

COMMENTS BY SUPPORTERS

• As the state’s population continues to grow and the demand for food increases, it is important to prevent municipal over-regulation that could threaten agricultural production.

• Enshrining the right to engage in activities such as farming and ranching in the Texas Constitution can help avoid some of the conflict that has been experienced when suburban expansion and development encroaches on working farmland or ranchland.

• Although there are currently protections for farmers and ranchers in statute, there is no guarantee that future legislatures will keep them.

• State agencies and political subdivisions would still be able to address serious concerns involving public health, safety, and animal welfare.

• The proposed amendment officially recognizes the authority of the state or a political subdivision to regulate protected activities to preserve or conserve the state’s natural resources.

COMMENTS BY OPPONENTS

• Limiting governments’ abilities to set reasonable standards regarding food safety, water pollution, and animal welfare would enable large, industrial factory farms to operate with less accountability, which also could undermine smaller family farms.

• Requiring that a threat to health and safety be “imminent” before regulations may be imposed could hinder the ability of the state or local governments to regulate agricultural operations that could pose a threat to public safety during a natural disaster until the natural disaster was imminent. Additionally, requiring clear and convincing evidence that a regulation is necessary to protect public health and safety is too high a burden of proof.

• By using vague terminology such as “generally accepted practices” and “wildlife management practices,” the proposed amendment will lead to confusion or abuses by certain entities.

PROPOSITION 2

(SJR 64, 88th Leg., RS)

The constitutional amendment authorizing a local option exemption from ad valorem taxation by a county or municipality of all or part of the appraised value of real property used to operate a child-care facility. Summary Analysis S.J.R. 64, 88th Legislature, Regular Session, 2023, proposes to add Section 1-r to Article VIII, Texas Constitution, to authorize the governing body of a county or municipality to exempt from ad valorem taxation all or part of the appraised value of real property used to operate a child-care facility. The resolution authorizes the governing body of the

county or municipality to adopt the exemption as a percentage of the appraised value of the property, provided that the percentage adopted by the governing body is not less than 50 percent. The resolution further authorizes the legislature by general law to define “childcare facility” for purposes of the exemption and to prescribe eligibility requirements for the exemption.

COMMENTS BY SUPPORTERS

• Inflationary costs are making it hard for childcare facilities to stay in business, and many facilities in Texas have closed in recent years. This leaves working families with fewer options for child care.

• High costs associated with operating child-care facilities and the inability of facilities to provide competitive wages have resulted in a shortage of employees for many child-care facilities.

• High property taxes have contributed to the rising cost of child care.

• Providing local governments with authority to offer a tax exemption for property used to operate an eligible child-care facility may free up resources that could be used to hire and retain staff, which would help to reduce the prevalence of child-care deserts in Texas communities. A facility’s savings from such an exemption may also be passed to consumers, which would address child-care affordability.

No opposition was expressed during legislative consideration of the proposal.

PROPOSITION 3 (HJR 132, 88th

Leg., RS)

The constitutional amendment prohibiting the imposition of an individual wealth or net worth tax, including a tax on the difference between the assets and liabilities of an individual or family. Summary Analysis H.J.R. 132 would amend the Texas Constitution to prohibit the legislature from imposing a tax on the wealth or net worth of individuals or families. The prohibition would specifically cover a tax on the amount equal to the difference between the assets and liabilities of an individual or family.

COMMENTS BY SUPPORTERS

• Enshrining a ban on a wealth tax in the Texas Constitution now will ensure that a future legislature cannot impose such a tax without the consent of voters.

• Prohibiting the imposition of a wealth tax will help ensure Texans know they will not be penalized for working to create wealth.

• Wealth taxes discourage economic innovation and investment and can lead to stagnation. Many European countries that previously imposed a wealth tax have since repealed the tax due to negative economic consequences.

COMMENTS BY OPPONENTS

• The current legislature cannot anticipate how the needs of the state will change over time, so it would be better to let future legislatures decide how to address future needs. A constitutional ban means even if a majority of people suppor t a wealth tax in the future, a minority of legislators in either chamber could block it.

• Measure is unnecessary because a wealth tax has not been proposed in Texas.

PROPOSITION 7

(S.J.R. 93, 88th Leg., RS)

The constitutional amendment providing for the creation of the Texas energy fund to support the construction, maintenance, modernization, and operation of electric generating facilities. Summary Analysis S.J.R. 93, 88th Legislature, Regular Session, 2023, proposes the addition of Section 49-q to Article III, Texas Constitution, to provide for the creation of the Texas energy fund to support the construction, maintenance, modernization, and operation of electric generating facilities. If this amendment is approved by the voters, the legislature has provided initial funding of $5 billion and enacted enabling legislation to begin providing loans and grants from the fund.

COMMENTS BY SUPPORTERS

• Additional state funding is needed to increase the reliability of the state’s electric market, particularly with regard to dispatchable generation.

• Creating the Texas energy fund would enable the Public Utility Commission of Texas to provide loans and grants to finance or incentivize the construction, maintenance, modernization, and operation of electric generating facilities, including associated infrastructure, necessary to ensure the reliability or adequacy of the state’s electric power grid.

COMMENTS BY OPPONENTS

Providing funding to increase the reliability of the Texas grid would be more appropriate through the rate payer system as opposed to providing state subsidies funded by all taxpayers.

PROPOSITION 10 (SJR 87, 88th Leg., R.S.)

The constitutional amendment to authorize the legislature to exempt from ad valorem taxation equipment or inventory held by a manufacturer of medical or biomedical products to protect the Texas healthcare network and strengthen our medical supply chain.

Summary Analysis The constitutional amendment proposed by S.J.R. 87 amends the Texas Constitution to authorize the legislature to exempt from ad valorem taxation the tangible personal property held by a manufacturer of medical or biomedical products as a finished good or used in the manufacturing or processing of medical or biomedical products.

COMMENTS BY SUPPORTERS

• Despite not having a corporate or individual income tax, Texas has a high effective tax rate for medical manufacturers as compared to other states. Taxes on medical and biomedical manufacturing inventory discourage capital investment in and the expansion of this industry in Texas.

• Most medical / biomedical manufacturing is located abroad, and the cost to ship medical supplies to the United States increased more than 50 percent in 2021, causing Texans to pay more for vital supplies. Encouraging local manufacturing would eliminate added shipping costs.

• Inflationary pressures and supply chain constraints further contribute to the need to regionalize manufacturing.

• Since 2020, Texas has missed opportunities for billions of dollars in private investment for biomedical manufacturing because it lacks tax

incentives that other states provide.

• The proposed tax exemption would encourage investment in medical and biomedical manufacturing in Texas, which in turn would promote innovation and advancement in medical technologies, strengthen Texas’ medical supply chain, and create jobs.

No opposition was expressed during legislative consideration.

PROPOSITION 11 (SJR 32, 88th Leg., RS)

The constitutional amendment authorizing the legislature to permit conservation and reclamation districts in El Paso County to issue bonds supported by ad valorem taxes to fund the development and maintenance of parks and recreational facilities.

SUMMARY ANALYSIS The constitutional amendment proposed by S.J.R. 32, 88th Legislature, Regular Session, 2023, would amend Section 59(c-1), Article XVI, Texas Constitution, to add El Paso County to the list of counties in Section 59(c-1) in which the legislature may authorize conservation and reclamation districts (special districts such as water control and improvement districts, municipal management districts, and special utility districts) to develop and finance parks and other purely recreational facilities with taxes. The amendment, without limiting any power to finance parks and recreational facilities in El Paso County that currently exists, provides for the issuance of bonds financed by taxes in districts located wholly or partly in El Paso County.

COMMENTS BY SUPPORTERS

• In 2003, the Texas Constitution was amended to allow conservation and reclamation districts in certain counties to issue bonds supported by property taxes to fund the development and maintenance of parks and recreational facilities if approved by district voters, but El Paso County was not among the counties included at that time. The proposed amendment would extend this beneficial authority to conservation and reclamation districts in El Paso County.

• The issuance of bonds to fund parks and recreational facilities in these districts in El Paso County would help to address the need for more parks and open spaces in the county and improve the quality of life for county residents. It could also make the county more competitive for Texans considering moving to El Paso.

• The decision to assess property taxes to support the issuance of bonds for that purpose is left to the discretion of each district and its voters. The assessment of property taxes would not be mandatory.

• The proposed amendment would not impair any district’s contract with the federal government regarding per-acre assessments since it does not create a mandate.

COMMENTS BY OPPONENTS

• Would give certain conservation and reclamation districts in El Paso County the unnecessary authority to assess property taxes.

• Under Section 55.364, Water Code, certain conservation and reclamation districts in the county have federal contracts requiring any land within the districts be assessed on a per-acre basis. These districts should be excluded from the applicability of the resolution’s property tax provisions to avoid additional tax burdens.

PROPOSITION 12 (HJR 134, 88th Leg., RS)

The constitutional amendment providing for the abolition of the office of county treasurer in Galveston County. Summary Analysis The constitutional amendment proposing to add Section 44(d), Article XVI, Texas Constitution, if approved by the voters, would abolish the office of county treasurer in Galveston County and authorize the commissioners court of that county to employ or contract with a qualified person, or designate a county officer, to perform any of the functions that would have been performed by the county treasurer if the office had not been abolished. The amendment also provides that the amendment takes effect only if, in addition to approval by voters across the state, a majority of the voters in Galveston County voting on the question also approve the amendment.

COMMENTS BY SUPPORTERS

• The Galveston County Treasurer’s Office does not provide a sufficient level of added protection for taxpayers to justify the amount of county funds needed to operate the office.

• The duties of the county treasurer could and would be absorbed by other county departments and done at a cost savings to taxpayers.

• Galveston County is well suited to successfully operate without a county treasurer as the county has a number of other officers, including an auditor, CFO, and purchasing agent, who per form duties that are performed by the county treasurer in other counties.

• Elimination of the treasurer’s office is supported by the current Galveston County treasurer, all members of the Galveston County Commissioners Court, and all municipalities in the county.

• Galveston County voters have already tacitly approved of abolishing the office of county treasurer by voting for the current county treasurer, who ran on the platform of abolishing the office.

• Nine other counties have eliminated their county treasurer position and have been able to continue operating efficient county governments.

• Voters statewide have previously recognized that an official treasurer position is not necessary by voting to abolish the office of state treasurer in 1995.

• Eliminating a constitutionally elected office is not unprecedented as other such offices, like county land surveyor or animal control officer, have been eliminated in the past.

COMMENTS BY OPPONENTS

• A stand-alone office of county treasurer that is headed by a person directly elected by county voters provides essential checks and balances in the operation of county government.

• Eliminating the office of county treasurer would not provide any real cost savings as the duties undertaken by the office would still be necessary and additional employees would need to be hired in other county departments to carry out those duties.

• Eliminating one county office and absorbing its functions into other departments sets a bad precedent and could lead to concentration of power within the county.

• Since the office of county treasurer is a constitutionally elected office, it is important to maintain the office.

PROPOSITION 13 (HJR 107, 88th Leg., RS)

The constitutional amendment to increase the mandatory age of retirement for state justices and judges. Summary Analysis The proposed amendment amends Section 1-a(1), Article V, Texas Constitution, to increase the mandatory age of retirement of state justices and judges from 75 to 79 years unless the legislature sets a lower mandatory retirement age. The proposed amendment also increases the lowest age the legislature may prescribe from 70 to 75 years of age.

COMMENTS BY SUPPORTERS

• Because people are living and working longer than in decades past, it is appropriate to allow judges and justices to serve beyond the current mandatory retirement age of 75.

• Increasing the mandatory retirement age for judges and justices will allow experienced and competent public servants who are willing to continue to serve.

• Allowing judges and justices to serve longer could decrease turnover and ensure a more predictable and stable judicial system.

• Since judges and justices in Texas are elected, any issues with the performance of a particular judge or justice can be addressed by the electorate.

No opposition expressed during legislative consideration of the proposal.

PROPOSITION 14 (SJR 74, 88th Leg., RS)

The constitutional amendment providing for the creation of the centennial parks conservation fund to be used for the creation and improvement of state parks. Summary Analysis S.J.R. 74, 88th Legislature, Regular Session, 2023, proposes the addition of Section 49-e-1, Article III, Texas Constitution, to provide for the creation of the centennial parks conservation fund to be used for the creation and improvement of state parks.

COMMENTS BY SUPPORTERS

• Establishing a dedicated state fund for the purchase of land to develop new state parks would provide a stable and long-term funding source that will empower the state to protect Texas’ unique natural resources and cultural history while making them accessible to our growing population.

• S.J.R. 74 would afford voters the opportunity to ensure that Texans and visitors alike can continue to enjoy the beauty of Texas’ parks for generations to come.

• Texas has lower park acreage per capita than many other states, and visitation to Texas’ parks has grown significantly in recent years.

• The current state park system is strained by user demand, with the vast majority of sites requiring reservations months in advance.

• The fund created by the proposed amendment would enable the state to purchase land for the development of new parks before land becomes more costly.

• State parks are a driver of economic activity and provide recreational, educational, and conservation opportunities.

No opposition was expressed during legislative consideration of the proposal.

by Jodee O'Brien

Write Powerful Scripts for Your Business

Creating a successful script that covers its initial cost, resonates with your target prospects, urges them to take action, and gives them what they need can be a daunting task.

As such, the ability to write powerful scripts is an important tool for business owners to get their message across effectively. Scripts can be used in a variety of scenarios, from marketing campaigns to product launches, and business owners should take the time to consider their audience and what they want to communicate before writing one.

Building the Message

To craft compelling scripts, business owners should put themselves in the shoes of the target market and use engaging words and phrases that will make an impact. Making sure each campaign has effective script will help ensure the desired outcome when launching a new product or service.

Metrics

Any script campaign that covers its cost initially will turn out to be very profitable in the long term. A realistic response would be between 10-25 percent. Additionally, business owners should also test and measure different

versions of their script to determine which one resonates better with their audience. Keep in mind that many successful scripts are written by people who know their market and who know how to come up with a good offer, so it is not always necessary to task employees based on their writing skills.

What makes a successful script?

 Targeted Lists: You don’t want to spend money to speak to anyone who would not be interested in your product or service.

 Process: Plan your process, know how many steps are needed to close the sale.

Clarity: What do you want to say? Have a clear purpose.

JODEE O’BRIEN

 Urgency: People can put off buying forever if you don’t give them a reason to act now, your script will be unlikely to work.

 You-Focused: Needs to be focused on the customer.

Writing powerful scripts for any given target audience isn’t easy but following these five crucial steps will ensure the content created resonates with its intended readership. At ActionCOACH Central Texas, our coaching guides you every step of the way to increase profit for your business. Successful scripts follow a basic formula, although they do vary depending on the situation and the objective of your script. For more information on how to write successful scripts, Download our full 30-page guide with examples and templates here:

by Thomas Graham

medical excellence in the state of Texas

THE VICTORY OF TEXAS IN LANDING A $2.5 BILLION ARPA-H FEDERAL BIOTECH RESEARCH HUB SHOULD NOT COME AS A SURPRISE. THE STATE IS NOW A GLOBAL BIOTECH POWERHOUSE.

on September 26, the White House announced that a new $2.5 billion biotech hub would be located in Dallas part of a Biden Administration initiative to accelerate U.S. biomedical and health research.

The physical core of the new Texas biotech center, one of three national “hubs” announced in September, will be Dallas’ Pegasus Park but Austin, San Antonio, College Station and Houston will also be supporting the effort. It will have impact here in Round Rock, Georgetown and Williamson County as well.

The Dallas center, as the ARPA-H proactive “Customer Experience” hub, will be richly funded and will focus on health solutions, clinical trials, and equity in health outcomes for all.

The foundation of today’s success was built over the last decade by a Texas state bond fund that was voted in years ago and committed to cancer research, which led to the creation of the powerful Cancer Prevention and Research Institute of Texas in 2007. The institute uses its $6 billion in funding to award quarterly grants to Texas universities, scientists, and companies in several categories. It still represents the largest state cancer research investment in U.S. history.

CPRIT’s CEO Wayne Roberts acted as a principal evangelist and an important leader of the successful coalition to bring ARPA-H to Texas. Roberts had the enthusiastic support of executives from the University of Texas MD Anderson Cancer Center and the University of Texas System who had all been beneficiaries of the CPRIT funds in the past.

EXPLORING ARPA-H

The Advanced Research Projects Agency for Health, known as ARPA-H, will have management over the three national hubs – Dallas, Washington DC, and Cambridge, Massachusetts.

THOMAS

The new ARPA-H is modeled after the U.S. Defense Department’s incredibly successful technology incubator DARPA (Defense Advanced Research Projects Agency). DARPA has been instrumental in almost every major defense tech advance since 1958, including the Internet, hardened electronics, drones and stealth technology.

ARPA-H, just over one year old, hopes to accelerate breakthrough technology in medicine and health advances that cannot readily be accomplished through traditional commercial or research activity.

The success of Texas in winning its share of the ARPA-H award will come as a bit of a surprise to some. Most think of the more likely centers of med-tech and biotech excellence to be Massachusetts on the East Coast, California on the West Coast with, sometimes, some surprises from mid-country med centers in states like Minnesota where the extraordinary Mayo Clinic continuously pioneers new approaches to care and therapy.

ARPA-H IN TEXAS

I, FOR ONE, WAS NOT SURPRISED AT THE NEW ARPA-H AWARD FOR TEXAS.

We were a proud partner this year in the coalition to win the ARPA-H competition. But early in our public relations agency’s history we took on the equally daunting task of organizing and promoting the bid of the entire State of Texas and Texas A&M University System to compete for an improbable $283-million federal bio defense grant which we roundly won.

That single victory, which came in June 2012, represented the largest federal healthcare grant in our state’s histo-

GRAHAM is President, CEO and founder of Crosswind Media & Public Relations in Austin, Texas.

Graham’s Crosswind agency is regularly ranked among the top regional PR firms in the country and Graham himself, author of the popular Branding Texas column, is the recognized dean of the Texas PR community, a nationally admired brand advocate and a crisis-tested media spokesperson. He has prepared, elevated and navigated top global and regional leaders and institutions through catastrophe and towards opportunity for more than 30 years.

ry and further established the foundation of what is today a multi-billion-dollar bio defense and biotech industry in our state.

Leader of that bid was Dr. Brett Giroir, then vice chancellor of the Texas A&M University System, who went on to make more medical history by acting as chief navigator of the nation’s rapid-paced development and delivery of effective COVID-19 vaccines.

Our firm served as “PR agency of record” for the bidding effort from Texas a statewide initiative that combined and coordinated city governments, hospitals, and research centers in the state’s top university systems.

It was a proud moment for us as communicators but more importantly a victory for the real heroes our too-often unheralded medical teams and research techs across Texas that had been woefully underfunded until that turnaround victory in 2012 men and women of skill and commitment quietly devoting their lives and careers to protecting the health not just of Americans but of humans all over the planet.

TEXAS' MEDICAL ECOSYSTEM

Today, bioscience in Texas is booming, which was also a principal attractor to the ARPA-H decision: The Texas Healthcare & Bioscience Institute reported last November that the industry employed more than 116,000 across 7,462 Texas business establishments in 2021, and it continues to grow at a rapid rate; from 2018 through 2021, industry employment grew by 15 percent, outpacing national industry growth.

By the additional numbers, thanks to THBI:

 Texas is now among the top tier of states measured not only in the size of its industry base, but in several additional measures of its innovation ecosystem, including university R&D expenditures, which exceeded $4.1 billion in 2020; NIH funding at more than $1.5 billion in

2021; venture capital investments with nearly $4.9 billion from 2018-21; and in bioscience-related patent awards where 5,312 were awarded to state inventors since 2018.

 Texas has the third-highest academic bioscience R&D expenditures and the fourth-highest growth rate this, although, at a per capita rate alone we’re not even in the top 10. That is an interesting dichotomy and either a good news point or indicator of a need for increased funding, depending on how you look at it.

Four of the state’s five major bioscience subsectors, according to THBI, contributed to the overall industry job gains.

THE THIRD COAST

In the past, major medical advances in Texas history were usually disaster driven. One if the earliest surges came in the immediate wake of the 1920 Black Death plague that left more than a dozen dead in Galveston which was preceded by more than one outbreak of yellow fever. Galvestonians experienced at least nine yellow fever epidemics between 1839 and 1867 alone, most if not all arriving by sea.

One of the first nationally respected healthcare facilities in the State of Texas, The University of Texas Medical Branch, began in Galveston as the state’s first medical school in 1891. The medical school is still there but UTMB today is also home to the Galveston National Biocontainment Laboratory, one of this century’s leading international centers for the study of exotic disease diagnosis and pandemic containment.

From Galveston on the coast to Pegasus Park, a 26-acre life science and social impact-focused campus in Dallas in north Texas, the state is now firmly established as the third coast in biosciences and medical research, one that for many years to come will be among the world’s major life sciences centers of excellence.

LINKS AND SOURCES

 ARPA-H announces site selections by launching nationwide health innovation network arpa-h.gov/news/arpanet-h/

 Dallas lands coveted federal biotech research hub

dallasnews.com/business/healthcare/2023/09/26/dallas-lands-coveted-federal-biotech-research-hub-after-months-of-campaigning/

 CPRIT: Meet Dallas-Fort Worth’s newest crop of high risk/high impact cancer researchers dallasnews.com/business/healthcare/2021/08/30/meet-north-texasnewest-crop-of-high-riskhigh-impactcancer-researchers/

 White House announces 25 Cancer Moonshot initiatives, including $240M in ARPA-H funds cancerletter.com/whitehouse/20230922_3/

 Galveston marks 100 years since deadly plague outbreak houstonchronicle.com/news/houston-texas/houston/article/Galveston-marks-100-years-since-deadlyplague-14990837.php

 New Report Examines the Bioscience Industry’s Economic Performance Nationally and in Texas thbi.com/TX-BIO2022%20-%20 state%20profile.pdf

 White House: ARPA-H Fact Sheet whitehouse.gov/wp-content/uploads/2021/09/092921-ARPA-HFAQ.pdf

 Advanced Research Projects Agency for Health

en.wikipedia.org/wiki/Advanced_Research_Projects_Agency_for_Health

 Defense Advanced Research Projects Agency

en.wikipedia.org/wiki/Advanced_Research_Projects_Agency_for_Health

by Ann Marie Kennon

TWilliamson County's Upcoming Bond Election

WhatYouNeedtoKnow

he Citizens Bond Committee of Williamson County, chaired by Georgetown’s David Hays, was formed to assess the necessity of a bond election aimed at enhancing roadways and park facilities. The committee held six public meetings across the county seeking input from a dozen cities in the county, municipal utility districts, county staff, the YMCA, and other partners. David reports that all six meetings were well attended and there was no opposition to the committee’s proposals.

The committee advised holding an election for road projects valued at approximately $1.68 billion and park projects totaling slightly more than $78.9 million (facing page). After reviewing, the Commissioners Court proposed last month that residents should be given the opportunity to vote to issue the bonds. Committee members narrowed down the project list, allocating $825 million for roads and $59 million for parks projects, all of which share a focus on safety and mobility. There are 38 road projects named in the order, ranging from right-of-way acquisitions to design to full construction in all four precincts.

“The cost of projects in urban areas like Georgetown and Cedar Park has escalated considerably due to increased traffic, and the number of projects exceeding $100M caught my attention," David notes. "With Williamson County's unstoppable growth and rising traffic challenges, failing to enhance our road infrastructure will only set us further back. With the county's population expected to touch one million by 2030, according to the Capital Area Metropolitan Planning Organization (CAMPO), the need is pressing."

He adds this vote represents a better financial balance than the previous bond as the cost of materials have begun to come down following the supply chain challenges from just two years ago.

MUNICIPAL VIEWPOINTS

Round Rock Mayor Craig Morgan emphasizes the collaborative efforts Williamson County and its cities have made towards enhancing mobility, particularly as his city is currently collaborating with the county for similar road construction projects. He points out, "We are fortunate because, unlike Travis County, which only offers two entry and exit points, Williamson County, in collaboration with its city governments, has excelled in fostering connectivity across the county." Consequently, he says, many individuals choose to and are able to live, work, and play in their respective cities. "This bond is pivotal for our businesses, residents, and visitors. Growth is inevitable, and denial only results in playing catch-up later. Thankfully, we're already a step ahead," Mayor Morgan adds.

Acknowledging potential inconveniences, Mayor Morgan states, "It would be unrealistic to assume there won't be any disruptions for our residents or businesses. Naturally, the denser the region, the more challenges we'll face during the construction phase, even in less-trafficked areas like farm roads." He believes that being up front, providing clarity and transparency with the public about construction activities can help mitigate these disruptions, as residents can plan alternate routes.

He and his fellow council members are aligned in their belief that being candid about potential challenges is the most courteous and effective approach. "I am very frank with people and tell them I’m not going to sugarcoat it but there will be disruptions and things will get worse before they get better but when it gets good it will be great."

Mark Your Calendars:

Mail Ballot Applic. Deadline: Oct. 27

Early Voting: Oct. 23 to Nov. 3

Election Day: Nov. 7

TxDOT and WilCo Break Ground on FM 3349 at US 79 Improvements, Oct 2022 (image credit: Wilco.org)

HIGH IMPACT PROJECTS

 In Georgetown, the expansion of Ronald Reagan from FM 3405 to Sun City Boulevard will be a benefit for the safety and flow of traffic around Sun City: $96M

 Kenney Fort Blvd. extension to University Blvd., partnership with the City of Round Rock

 FM 1431/US 183A intersection capacity expansion, partnership with the City of Cedar Park

 Liberty Hill Bypass, complete bypass around Liberty Hill: $86.5M

 East Wilco Hwy, construct two-lane roadway CR 137CR 404: $80M

 East Wilco Hwy, construct two-lane roadway from Chandler Rd to SH 29: $87M

 Robinson Ranch Rd, construct three-lane roadway from SH 45 to McNeil: $47M

TAX IMPACT

If approved by the voters, Williamson County estimates the two bond propositions will not result in an increase in the county’s debt service tax rate of $.1339 per $100 of valuation. However, due to increases in property values, property owners may see an increase in their tax bill. In 2022, the average taxable value of homestead properties increased $42,709 which would result in an increase of approximately $4-5 per month on the debt service portion of the property tax bill.

PARK PROJECTS

The Parks bond package includes 14 projects totaling $59 million for a mixture of projects related to:

Future parkland acquisition —location(s) TBD

Facility development projects associated with Berry Springs Park and Preserve, Williamson County Expo Center & Twin Lakes Park (YMCA)

Several shared use path projects

David says, “The dollars we issue and the county issues are all leveraged with city and state money so everyone is contributing to the roads in each area and that’s how it should be.” For instance, the Samsung fab will have a huge impact on the roads in Taylor and across the east side of the county. Taylor is growing so fast and working hard to meet their water and utility needs but their roadways will be heavily impacted as well. As well, the future Loop around Liberty Hill will be funded by the county and different entities put money in to fund the projects they need. Williamson County is partnering with smaller cities like Jarrell to ease the burden with rapid growth that we’re all having. It’s coming but there’s no way for smaller municipalities to stay ahead without help from the county and the state. The county historically has done what it can do to help the smaller municipalities.

STRENGTH I NTEGRIT Y VISION

Jimmy was one of the most honest men I’ve ever met in my life. He was the kind of guy who had so much integrity you could play poker with him over the phone.

~Jim Schwertner, Texas Cattleman

On August 18, the Central Texas business community lost one of our own, Jimmy Jacobs, founder and owner of Grand Endeavor Homes in Georgetown. While always a family man of the highest order, as well as a beloved friend, Jimmy also contributed more than three decades of successful award-winning home building experience in Georgetown and the surrounding Texas area.

Not only will his presence be missed among those who watched him grow and flourish while literally shaping the landscape of the region, his high standards and influence will continue to flow through deals yet to be made in boardrooms, alliances created over handshake agreements, and countless philanthropies and businesses that blossomed under the shadow of his well-known reliability, generosity, and integrity.

While many knew him for his notable achievements as a custom home builder across Central Texas, there was more to Jimmy than just his professional accolades. With a legacy spanning multiple successful companies, industry awards, and widespread recognition, Jimmy was a force to be reckoned with in the business world. Despite his towering achievements, he remained grounded, always keeping his hands in the dirt of his work and extending them outwards to lend a helping hand behind the scenes.

Jimmy Jacobs

October 3, 1959 - August 18, 2023

LEGACY OF EXCELLENCE

His stellar reputation as a builder earned him the "King of Custom Homes" title in 2018 by the Austin Business Journal. He earned the number one custom home builder spot in the Central Texas area multiple times as Jimmy Jacobs Custom Homes and again in 2023 as Grand Endeavor Homes with $71 million in sales. As he was never one to brag or seek attention, we are pleased to share just some of his many industry awards.

 Winner, 2012 Silver National Award and Finalist, Gold Award for Interiors in Custom Home & Product Design

 Winner, Best Interior Merchandising, 2011 Texas Star Awards

 Winner, Best Product Design, 2011 Texas Star Awards

 Featured builder on ABC-TV's Extreme Makeover Edition

Mentored by his father, Justin Jacobs is now president of Grand Endeavor Homes and will continue Jimmy's legacy of expertise in building and design to new homes throughout Central Texas.

"We are honored

to carry on the Jimmy Jacobs legacy every day as we continue to build homes with the same energy and wisdom he handed down."

TEN QUESTIONS ROUND ROCK CITY COUNCIL MEMBER

RENE FLORES

THE BEST LEADERS SUPPORT THEIR

1

TEAMS BY being an advisor to the team. Knowing when to encourage, praise, counsel, and challenge them to strive for a better outcome. Good leaders stay away from micro-managing the team. Leaders should empower their team to look for different and better means to achieve results. I believe if you empower your team, you will ultimately get better results and much more satisfied team members.

2

I DEFINE A GREAT ORGANIZATIONAL

CULTURE AS one that strives to share all information, good and bad, with the team.

A culture that is open to taking questions from employees and will answer them and relay them back for all to see the responses. A great organizational culture will encourage members to take risks, encourage continued learning, and provide members with a sense of purpose as team members execute their daily responsibilities.

3

ONE THING I TRY TO DO

EVERY DAY is to be thankful for the new day in front of me. I ask for blessings for my wife and children, my extended family, and my community. I am appreciative for good health and my job. I ask God to forgive me for times I messed up and thank Him for good things that occur in my day-to-day.

I FEEL MOST ALIVE WHEN

4

I can use my knowledge or contacts to help or connect someone in need. I consider myself a connector of people and an information broker. I get tremendous joy when I see my son and daughter accomplish things in their lives and when I see my wife recognized for her efforts in the community. I feel accomplished when I can push myself mentally or physically to see a task accomplished well and in a timely fashion.

5

HOW I HANDLE NEGATIVITY

In day-to-day life one may encounter negativity.  I always pride myself on asking someone, “Is there something I can do for you?”  “How can I help you?”  This refocus enables me to funnel my energy into helping someone.  I am solution-oriented and look to the positive. My life experience has taught me to surround myself with positive people and I strive to be the same for others.

6

TO AVOID DISTRACTIONS I ...

review all my tasks for the next day at the end of each day. devices and not react when I hear a ding or buzz from an about putting my electronic devices down when I am in the

7

ONE THING THAT IS DIFFICULT FOR ME BUT I ENJOY IS

sitting in silence. Taking the time to relax without feeling like I have to be doing something or taking a time-out without working on mental notes on what I need to do next or perhaps what I am behind on. My mind is constantly in the 'on' position with thoughts of how can I connect someone or solve an issue. Sometimes it is challenging for me to shut down the thinking process.

8

MY BEST ADVICE FOR HANDLING CHANGE IS

to try to accept it sooner rather than later. I try to keep myself from wasting energy ruminating on why a change has occurred or fighting change that has already been determined. I believe it is okay to ask questions about the change and would like to think I am willing to give proposed changes a reasonable amount of time to play out.

IN 10 YEARS I HOPE TO

9

continue to be involved in the community in which we live not just involved but able to contribute to the enhancement of the local and greater community. I hope to be able to see my children continuing to achieve personal and professional goals. I look forward to being able to continue to travel and experience life daily with my wife.

10

I DEFINE SUCCESS

by being able to answer questions like these in the affirmative: Did I leave something or someone better than I found them? Did I try my best to make a difference? Did someone smile or have a better day because our paths crossed?

RENE FLORES WAS ELECTED TO ROUND ROCK COUNCIL PLACE 2 IN MAY 2016, HAS BEEN RE-ELECTED TWICE, AND SERVED AS MAYOR PRO-TEM FROM DECEMBER 2020 TO JUNE 2023.

PROFESSIONALLY, HE IS A COMMERCIAL LENDER AT AMPLIFY CREDIT UNION AND HAS EXTENSIVE EXPERIENCE IN FINANCE, LEADERSHIP, AND COMMUNITY SERVICE.

HE HAS SERVED ON NUMEROUS BOARDS, INCLUDING THE ROUND ROCK CHAMBER, RURAL CAPITAL AREA WORKFORCE SOLUTIONS, AND VARIOUS OTHERS, EMPHASIZING HIS COMMITMENT TO COMMUNITY DEVELOPMENT.

I make my list of to do’s and try to prioritize them from most critical to less critical. I find it challenging to stay off electronic incoming message. It is unfortunate that we have all become conditioned to react when our devices beep. I am mindful presence of other people or in meetings.

YOU PROBABLY HAVE A WILL PREPARED FOR WHEN YOU DIE; YOU MAY EVEN HAVE A BUSINESS CONTINUITY PLAN IN THE EVENT OF DEATH OR INCAPACITY. BUT DO THOSE PLANS INCLUDE YOUR DIGITAL ASSETS? OUR LIVES AND BUSINESSES ARE INCREASINGLY INTERTWINED WITH THE ONLINE WORLD, BUT OUR ENDOF-LIFE PLANNING RARELY INCLUDES THIS ASPECT.

PYour Digital Afterlife

asswords are the gate keys to our online accounts. Make sure the individuals designated to take over for you in an emergency know where these are stored. Perhaps print them out, seal them in an envelope, and store them in the company safe. Most password manager programs provide an account recovery code or “emergency kit” that can be used to restore access to the password database – but they must be set up and shared in advance of them being needed.

Many major online companies provide some sort of end-of-life functionality that grants a pre-selected person limited access to your digital data. If you have a Gmail account, check out the Inactive Account Manager. This tool allows you to give access to all or some of your Google files and emails to another Google user from 3 to 18 months after no activity (e.g., logins) on your account. Or, you can have your account deleted entirely.

BEN LAKE

If you have an iPhone or iPad, Apple gives you the opportunity to identify one or more Legacy Contacts. You provide this person (who doesn’t need an iPhone) with an “access key” code, which is used by him or her to request access to your account after you pass away. Apple will permanently delete your account three years later. This feature requires the iOS 15.2 or newer operating system, so be sure your phone is up to date before going through the process.

With nearly 3 billion active users around the world, it’s reasonable to assume that roughly 50,000 Facebook users die each day. Since 2009, Facebook has offered users a way to memorialize an account. This means no one can login to your account, you don’t show up in others’ friend suggestions, and birthday reminders are turned off. Memorialization is requested by showing proof of death, such as a certificate or obituary. In addition, prior to your own passing, you can configure a legacy contact

who will be able to manage your Facebook profile for you. Alternatively, you can also request immediate deletion of your account if it becomes memorialized.

Facebook.com/help/103897939701143

Don’t forget to also include instructions on accessing other online accounts, such as e-commerce seller accounts, online-only financial accounts like PayPal and Venmo, travel companies with accumulated miles or rewards, and data storage services like Dropbox or Carbonite.

When developing your business continuity plan or personal end-oflife documents, consult an attorney for legal advice. While not accepted by all companies, it may also be advantageous to have an affidavit granting your successor or heirs access to online accounts in addition to the measures described above.

So set aside a few hours of your time to make plans for your digital data when you’re gone. You – and your clients and loved ones will thank you for it one day.

by Ann Marie Kennon

economic momentum

FROM SOUTH KOREA TO YOUR HOMETOWN

Strategic Rationale

With the construction of the Samsung semiconductor manufacturing plant in Taylor, the demand for suppliers in Central Texas has surged. Consequently, the office will not just focus on semiconductor suppliers but also other industries like research, life sciences, automotive, and software.

The WilCo EDC office in Seoul, conveniently housed within the headquarters of KOTRA, a state-funded South Korean trade and investment organization, quickly began bearing fruit, generating two leads for WilCo EDP within its initial two weeks of operation.

Seminar

In a move that underscores its growing international outreach, the Williamson County Economic Development Partnership (WilCo EDP) has established an office in Seoul, South Korea. This initiative, announced by Economic Development Director Dave Porter in July, aims to help South Korean firms eying U.S. expansion, directing them toward Williamson County and its constituent municipalities.

The Seoul office is poised to play a critical role in navigating South Korean businesses through their expansion into the United States, particularly focusing on opportunities within Williamson County.

One of the pioneering ventures of the new EDP office was the half-day seminar September 12, titled "How to Do Business in Williamson County." The event, Porter said at press time, was a "packed schedule" and included a hosted delegation from Williamson County, comprised of economic development leaders and city managers, who interacted with more than 100 South Korean companies.

Taylor Mayor Brandt Rydell reflected on how Taylor distinguishes itself as part of the Wilco team. "We are in a unique position with respect to the Korean business community. Many Koreans know Austin but all Koreans know 'Taylor City' because Samsung is so much a part of their national GDP and everything they do is heavily covered in the Korean media. Subsequently, the development in Taylor gets a lot of attention." Rydell said he was mindful of the natural attraction to his city from the Korean audience and focuses on the idea that Williamson County is a bigger canvas than Taylor. The other cities at

the September seminar focused on attracting suppliers that will benefit from establishing a presence geographically close to the fab.

As for the other WilCo cities, Rydell says, "We are all trying to attract suppliers for Samsung and other South Korean companies. Taylor is prepared to provide things to companies looking to come here but we are ill-suited for others. We do not have turnkey 100,00 square foot spec buildings for new companies but many of our neighbors do, ready for move in. I tried to highlight how we are all in a partnership and it's a team effort in Wilco. Economic development is competitive by nature but Samsung is so massive there is so much spillover, i.e., more than enough for Wilco and beyond. If there is a Korean company that is important to Samsung and being near to them is important for operations, we want them in Taylor but, if not here, we want them in our county so we will do what we can to help them get here."

Endorsements

Porter emphasized South Korea's prominence in technology innovation and stressed the potential of the Seoul office as a gateway for the entire Asian market. County Judge Bill Gravell echoed this sentiment, emphasizing Williamson County's readiness for business collaborations with South Korean firms. “We have placed a sign in the sky that says Williamson County is open for business,” Judge Gravell said. “This office gives us boots on the ground locally so that when companies come to KOTRA wanting to do business in the U.S., they can walk them down the hall to our offices.”

Williamson County EDP Director Dave Porter with Sung Min Hong, Samsung Executive Vice President and Head of the Foundry HR Team in South Korea in April.

Cultural Exchange

Recognizing cultural disparities between the U.S. and South Korea, Williamson County engaged Korean consultants EC Chi and William Lee to foster smoother business transactions. Their role is pivotal in bridging cultural gaps and assisting companies in the transition.

As global giants like Samsung solidify their presence in Williamson County, the Seoul office is set to become a crucial conduit linking South Korean businesses with lucrative ventures in Texas.

Rydell says, "We do have a large Korean-American demographic here so, early on, I knew if Samsung were to come here it would be important for Taylor to have a very intentional and committed posture to engage with them culturally. It was a key concern of mine that we set up a sister city relationship and there is much we can learn from visiting Pyongtech to learn about their culture. We've invited leadership from Pyongtech to visit Taylor when our fab opens next year. Fortunately, we've also had other cities in Korea reach out looking for similar sister city partnerships."

With so many coming to Taylor to work at and support the plant, Rydell echoes the excitement mixed with some trepidation about what all the changes will mean for Taylor and Williamson County over the next 5 to 10 years, but says it all boils down to optimism for the opportunities presented by these expansive projects. He said, "It is important to cultivate positive relationships between the community here and those who will be coming over to work. Other city reps laid out what kinds of industry they are looking for and can support, like batteries or electric vehicles. We are the home for Samsung so that will remain our primary role in the Samsung ecosystem."

As companies continue to explore partnerships and possibilities within Williamson County, the anticipation of what the next 5-10 years will bring to Taylor oscillates between excitement and a cautious optimism, especially considering the myriad of opportunities and challenges presented by these expansive projects.

What's Next?

Moving forward, Rydell expressed optimism for ongoing interactions and follow-up visits with companies exploring expansions in the Central Texas area. “Taylor is pleased with the KOTRA office and prioritizes maintaining a presence there to ensure continual engagement with the Korean business community,” he asserted.

In our next issue, we will delve deeper into the experiences and insights gained from the city representatives' trips and the burgeoning partnerships with South Korean businesses.

For the last 20 years, my dad and I have met every Saturday morning for breakfast. How did that come to be? I have a close friend that lost his dad suddenly and unexpectedly at that time. In the months that followed, my grieving friend often said to me, “If I only had one more day to clear up some unfinished emotional issues with my father, but now I can’t.”

Over time, and having mused over the sentiment, I realized I didn’t want that to be the case for my father and me. The simple solution was to ask dad if he would like to meet me every Saturday morning for breakfast to enjoy some time together. He agreed.

In the beginning, he lived in Killeen, and I lived in Georgetown, so we decided to meet in Florence. It was half-way for both of us, but there were far deeper reasons for choosing that location other than it being a mid-point. It felt right to meet here, and we’ve made many wonderful memories at local establishments throughout the years.

Florence is simply reminiscent of a time when life moved at a gentler pace and I wonder if, perhaps, I should have been born during those years covered by the city's Vidette newspaper (1898-1948). With a historical essence that continues to beckon those seeking a place where arts and antiquities converge, Florence is breathing life into the past while maintaining a harmonious balance with the present. Plus, dad and I have our choice of local eateries and shops, which offer a great exploration into the unique flavors and treasures of Central Texas.

Not surprisingly, Florence is now the place my family calls home. It is almost as if something primordial drew me here. If you’re aware of the world-famous archaeological Gault site, you might agree. The oldest human habitation in the western hemisphere is located just a few miles from our home, boasting some 20,000 years of history. Obviously, folks have been meeting in Florence, Texas for a long time, before it was even called Florence. Maybe that’s why it felt right for to meet my dad here for 20 years, and now to call it home!

Ben Daniel Florence Mayoral Candidate

BEN DANIEL

County Judge

Bill Gravell 512-943-1550

ctyjudge@wilco.org

710 S Main St, Ste 101 Georgetown

County Judge

Andy Brown

512-854-9555

Judge@TravisCountytx.gov

700 Lavaca, Suite 2.300

County Judge

David Blackburn

254-933-5105

david.blackburn@ bellcounty.texas.gov

101 E Central Avenue, Belton

WILLIAMSON COUNTY

Pct 1 Commissioner

Terry Cook

512-244-8610

commissioner1@wilco.org

1801 East Old Settlers Blvd, Ste 110, Round Rock

Pct 2 Commissioner

Cynthia Long 512-260-4280

clong@wilco.org

350 Discovery Blvd Ste 201, Cedar Park

Pct 3 Commissioner

Valerie Covey 512-943-3370

comm3@wilco.org

100 Wilco Way, #201 Georgetown

TRAVIS COUNTY

Pct 1 Commissioner

Jeff Travillion 512-854-9111

Jeffrey.Travillion@ traviscountytx.gov

700 Lavaca, Suite 2.200, Austin

Pct 1 Commissioner

Russell Schneider

254-933-5101

russell.schneider@ bellcounty.texas.gov

101 E Central Avenue, Belton

2 Commissioner

Brigid Shea 512-854-9222 Comm2@ traviscountytx.gov

700 Lavaca, Suite 2.300, Austin

3 Commissioner

Ann Howard 512-854-4844

Precinct3Constituents@ traviscountytx.gov

700 Lavaca, Suite 2.400, Austin

BELL COUNTY

Pct 2 Commissioner

Bobby Whitson 254-933-5102

bobby.whitson@ bellcounty.texas.gov

101 E Central Avenue, Belton

Pct 4 Commissioner

Russ Boles 512-943-3761

russ.boles@wilco.org

3001 Joe DiMaggio Blvd Unit 1300 Round Rock

Pct 4 Commissioner

Margaret Gómez 512-854-9444

Margaret.Gomez@ traviscountytx.gov

700 Lavaca, Suite 1510, Austin

Pct 3 Commissioner

Bill Schumann 254-933-5103

bill.schumann@ bellcounty.texas.gov

Pct 4 Commissioner

Louie Minor

254-933-5104

louie.minor@ bellcounty.texas.gov

101 E Central Avenue, Belton

by Charlotte Kovalchuk

MOVE PEOPLE ON THE

BETHANY SISNEROZ

Bethany Sisneroz has come on board as Georgetown's The Wesleyan’s new president and CEO after serving as chief operating officer for the nonprofit senior living and healthcare provider since 2019. Sisneroz brings more than 20 years of experience in various levels of senior care, having previously served as regional VP of operations for organizations throughout Texas.

KYLE LANDRY

Kyle Landry has taken the helm as St. David’s Georgetown Hospital’s new CEO. Since 2015, Landry has served in various leadership positions within St. David’s HealthCare, most recently as chief operating officer at St. David’s South Austin Medical Center.

FRED BRENT

Longtime superintendent of GISD Fred Brent was named Sport Clips Haircuts’ new chief of staff, in which he will work with the leadership team to manage internal operating systems and community connectedness.

ADRIANA NUNEZ-YOUNG

Adriana Nunez-Young was promoted to director of entrepreneurship and innovation at the Round Rock Chamber of Commerce, having joined the Chamber in 2020 as economic development manager.

JEREMY MARTIN

Jeremy Martin is the Austin Chamber of Commerce’s new president and CEO. He has been with the Chamber since 2004, most recently serving as interim chief operating officer.

JUSTIN JACOBS

Justin Jacobs is the new president of Grand Endeavor Homes following the passing of his father and founder/ president Jimmy Jacobs. Justin previously served in various roles for Grand Endeavor Homes, most recently as vice president of purchasing.

JOSÉ ROIG

José Roig has been named director of the Development Services Department for the City of Austin after serving as interim director since January of this year. Roig brings nearly 30 years of building safety experience, including 15 years with the city and 14 years in the private sector. He began his service with the City of Austin as a commercial building inspector in 2007 and worked his way up to city building official in 2016.

NUMBERS

33

Rank for Grand Endeavor Homes in Georgetown, by 2022 sales volume, —$71,000,000—in the Central Texas market.

2.88%

Williamson County's growth rate in 2023. The estimated population is 664,919.

3.9%

Unemployment in Williamson County (July 2023)

15

Days provided by House Bill 14 for cities/counties to review building permit applications before applicants may submit for 3rd-party review to facilitate quicker regulatory processes.

25%

Adoption rate of A.I. by United States companies.

Average days on the real estate market for Williamson County homes. (August 2023)

45

New full-time County positions included in Williamson County's 2023-24 budget.

78

Number of triple-digit weather days in the Austin metro area in 2023. The high for 100-plus degrees was 90 days, recorded in 2011.

$130

Average homestead property tax increase for Williamson County residents for tax year 2023.

269

A.I. startups launched in Q1 2023, a 69 percent decrease over the Q1 2022, which had 688.

MICHELE MIDDLEBROOK-GONZALEZ

Michele Middlebrook-Gonzalez is the City of Austin’s new chief strategic communications and external relations officer, previously serving as communications consultant for Blue Cross and Blue Shield of Texas.

BYRON LANDOR

Byron Landor has been named CEO of ClearSky Rehabilitation Hospital of Harker Heights. He joins ClearSky Harker Heights after serving as the director of Business Development & Contract Administration for an acute psychiatric hospital in Temple, where he managed business strategy and development.

PEDRO LOPEZ, JR.

Pedro Lopez, Jr. was sworn in as the new police chief for the City of Killeen in June. He last served as the police chief for the Houston ISD Police Department and has a 35-year law enforcement career, in which he also served as assistant police chief for the Houston Police Department. Lopez also had a 27-year military career in the U.S. Army and retired as a Chief Warrant Officer 3.

by Ann Marie Kennon

$400

Registration fee for new electric vehicles, signed into law September 1. Aims to include EVs as part of the existing fuel tax, which is used for road improvements.

774

Number of laws passed by the Texas Legislature on September 1.

130,000

Number of American Airlines employees. Headquartered in Dallas-Fort Worth, its 200 million annual passengers make it the largest airline in the nation.

483,490

Confirmed and probable cases of COVID in Texas in 2023.

$10,000,000

Value threshold for business-to-business lawsuits in Texas' newly created judicial district. Judges experienced in civil business litigation will be appointed by the governor for 2-year terms.

21,000,000

Population of the Texas Triangle, one of the nation's 11 megaregions, made up of Austin, Dallas-Fort Worth, Houston, and San Antonio.

$560,109,974

The total Williamson County budget approved by commissioners for Oct 2023-Sept 2024.

$321,300,000,000

Texas state budget for 2024-25 signed by Governor Abbott, Sept 1.

$1,850,000,000,000

Projected value of the A. I. market by 2030.

by Charlotte Kovalchuk •

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BUSINESS BRIEFS

CLEARSKY REHABILITATION HOSPITAL

ClearSky Rehabilitation Hospital of Harker Heights opened at the end of July at 750 W Central Texas Expressway in Harker Heights and is ClearSky Health’s fifth medical rehabilitation hospital in Texas. A 30-bed, 44,000-square-foot facility, ClearSky Harker Heights will treat about 650 patients annually and offers medical management as well as physical, speech, and occupational therapy.

CARACOL

Caracol, a large format 3D-printing company based in Barlassina, Italy, opened its North American headquarters in Austin in August. Caracol has partnered with TyRex Group – a leading manufacturing and innovative group of companies in Austin – to open the 34,000-square-foot facility that will create 76 new jobs.

ZT SYSTEMS

ZT Systems, a company based in New Jersey that specializes in cloud computing and artificial intelligence software, is opening a manufacturing facility in Georgetown in the NorthPark35 industrial development at I-35 and SH 130. The 430,000-square-foot facility is set to open in 2024 and is expected to create up to 1,500 new jobs.

DONGJIN SEMICHEM

Dongjin Semichem Texas Inc., a Seoul, Korea-based chemical manufacturer, plans to build a 91,000-square-foot plant at 705 Rickey Carlisle Drive in the Killeen Business Park. Dongjin operates 20 manufacturing plants across Korea, China, and Europe, and the Killeen facility is the company’s first plant in the U.S. The new facility will provide processing chemicals for the Samsung plant in Taylor and is estimated to open by February 2024.

IMAX

The first IMAX theater in Williamson County is set to open in Hutto’s new Evo Entertainment center in spring 2024. Evo Entertainment will feature eight IMAX and EVX (Enhanced Viewing Experience) movie screens along with in-theater dining and recliner seating. Located south of the Hutto YMCA off of US Highway 79 near State Highway 130, the 53,000-square-foot facility will also house 12 bowling lanes, 7,200 square feet of gaming, attractions and virtual reality, a bar-lounge area, a patio, and a private event space.

COMPEDIA

Compedia, an Israeli company that turns educational content into immersive digital experiences, plans to establish its headquarters in Cedar Park after an agreement between the city and Compedia that was approved by the City Council in August. The new headquarters is set to create 228 jobs with an average salary of $100,000.

PRESCRIPTION DISPENSING LABORATORIES

In August, Cedar Park City Council approved an agreement that allows Prescription Dispensing Laboratories to bring its headquarters to Cedar Park. PD Labs will purchase or lease a building in Cedar Park with a $4.3M investment while maintaining 26 local jobs and creating a minimum of 16 new jobs. The pharmacy and wellness center’s new headquarters will be about 7,500 square feet at 1513 New Hope Road, where the company will continue its research and development of new treatments for conditions such as Lyme disease and autism.

ARCADA EFUELS

Arcada eFuels, a synthetic kerosene fuel developer based in Copenhagen, moved its global headquarters to Austin in July and will create 20 jobs.

SEC Seeks to Halt Nearly $130M Fraud

The Securities and Exchange Commission announced October 16 that it obtained a temporary restraining order, asset freeze, and other emergency relief to halt an ongoing fraud targeting the Indian American community and raising nearly $130 million since April 2021.

The fraud is allegedly being conducted by Nanban Ventures LLC, its three founders Gopala Krishnan, Manivannan Shanmugam, and Sakthivel Palani Gounder (collectively, Founders), and three other entities that the Founders control. The SEC’s complaint, filed in the U.S. District Court for the Eastern District of Texas, alleges that the defendants raised more than $89 million from more than 350 investors for investments in purported venture capital funds that the Founders managed through Nanban Ventures LLC, and more than $39 million from 10 investors that invested directly in the three other entities controlled by the Founders.

The SEC states that the Founders overstated the profitability of the investments and paid investors – largely from the DFW-area Indian American community – at least $17.8 million in fake profits that were actually Ponzi payments. The complaint further alleges that defendants misrepresented Krishnan’s expertise and success using his eponymous “GK Strategies” options trading method. According to the SEC’s complaint, Krishnan claimed in a YouTube video that he achieved returns of “more than a hundred percent,” and Nanban Ventures claimed in its venture capital funds’ private placement memorandums that Krishnan would manage the funds to generate returns that would “consistently overperform the S&P 500 Index.” The SEC’s complaint further alleges that the actual trading returns using GK Strategies were, with limited exceptions, lower than the returns of the S&P 500 index, lower than the percentage returns that Krishnan claimed in YouTube videos, and negative on numerous occasions.

The SEC’s complaint also states that Nanban Ventures and the Founders were all investment advisers who violated their fiduciary duties by causing the venture capital funds to invest more than $70 million into companies the Founders controlled. According to the SEC’s complaint, the Founders commingled that money with more than $39 million from at least 10 other investors and then used the commingled funds to, among other things, make Ponzi payments and pay themselves at least $6 million.

The SEC charges all defendants with violating various antifraud provisions of the Securities Exchange Act and Investment Advisers Act. The complaint seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties from all the defendants. The complaint also seeks an order prohibiting the Founders from acting as officers or directors of a public company.