Episode Transcript
[00:00:00] Speaker A: Quincy Housing Authority Executive Director Jim Morathis is joining us for an update on a lot of stuff that's going on at the Housing Authority this year. Jim, great to see you again.
[00:00:09] Speaker B: Joe, nice to see you. Thanks for having me in.
[00:00:11] Speaker A: Yeah, it's our pleasure. Good. Kind of seasonal updates from the Housing Authority and there is a lot to talk about.
[00:00:17] Speaker B: There's always a lot going on at
[00:00:18] Speaker A: Quincy Housing Authority and now slash Quincy Development Corporation.
[00:00:22] Speaker B: That's true, yes.
[00:00:24] Speaker A: That was the biggest news last time you were here.
[00:00:25] Speaker B: Yes, that's been successfully completed.
We currently now own o' Brien Towers, we own Pagnato Towers, and we recently just closed on Riverview, the family development with 200 units down by the fire station there in Snug Harbor. So closed on all of that. The last building left is drone apartments, which we believe will close on by the end of this year.
[00:00:50] Speaker A: Really?
[00:00:50] Speaker B: That'll be the end of federal public
[00:00:52] Speaker A: housing, I was just going to say. So that's all the federally funded.
[00:00:54] Speaker B: That's it, yeah. Public housing, it'll all be privately owned by Quinton Development Corp.
[00:00:59] Speaker A: Okay. But there's still state run.
[00:01:01] Speaker B: We still have all the state properties.
[00:01:03] Speaker A: Okay.
[00:01:04] Speaker B: Yep.
[00:01:04] Speaker A: So in total, how many units now do you oversee?
[00:01:09] Speaker B: Well, we, we oversee the other towns too. So we have Holbrook, Hanson, Moshfield, Hingham and Quincy.
[00:01:16] Speaker A: Okay.
[00:01:16] Speaker B: So all together we have about 6,500 residents and then somewhere in the neighborhood, 2,500 units.
[00:01:26] Speaker A: And Quincy specifically, how many?
[00:01:28] Speaker B: Well, we have section 8 too. So we have the small portfolio of federal public housing, the state public housing, Quincy Development Corp. And then we have the Section 8 program. We probably have almost 2,000 vouchers out on the street that we administer the vouchers and then they rent from private landlords and then we have the 1700 units that we manage in Quincy.
[00:01:50] Speaker A: Oh, okay.
And the reason that the development corporation was developed to take over the federal housing was why?
[00:01:59] Speaker B: Well, lots of reasons. I mean, federal public housing, the government's trying to get rid of all the federal public housing.
They see what the needs are in these buildings going forward and they want to get it off their paper. They want to not have all those obligations for capital improvements down the road. So they're encouraging housing authorities to create nonprofit organizations, take ownership of the federal public housing and then what happens is we get a 40 year contract, they become project based section 8. So they still stay affordable housing and they stay that in perpetuity. It's just that instead of getting capital money every year from HUD and instead of getting operating money from HUD, we get one lump payment, which is the Section 8 voucher payment. And. And then we split that off and we designate a portion of it for capital improvements for the future, and then we keep a portion of it for operating.
[00:02:52] Speaker A: Okay.
[00:02:52] Speaker B: And now the Housing Authority has ownership in these properties.
So you look at it differently.
When you own something, you're not only just managing it for somebody, you actually own it.
So setting up capital improvement plans and making sure that these properties are around for decades to come to serve people that need it. And it gives you the ability to finance the property.
It gives you the ability to add new units.
It gives you the ability to partner up on the city, which we've done a whole bunch.
I mean, as you know, the Housing Authority has had a phenomenal relationship with the Koch administration.
He's been very supportive of the projects that we have going on, and he's been very supportive of the creation of Quincy Development Corp. And we work very closely on making these things happen, and it's been a great relationship.
[00:03:43] Speaker A: Well, I mean, you were brought in at a time when the Housing Authority was under great critique from the state. Due to the deterioration of the properties.
[00:03:53] Speaker B: The Housing Authority was headed for receivership from both HUD and from the state.
The properties were in really, really tough condition, and financially, the Housing Authority was in serious trouble.
We've been able to manage through all of that and pay off all the debt that it had, and we've been able to financially stabilize the entire operation, if not really starting to plan for the future.
[00:04:17] Speaker A: Absolutely. What, have or have the tenants seen any change since the Quincy Development Corporation was.
[00:04:24] Speaker B: Oh, it's been a huge change.
I mean, we've been making a lot of improvements to the buildings.
We've been spending a lot of money improving the buildings and really focused on support services and providing supportive services to the residents as much as. Instead of just providing them with housing, providing them with an element of support services.
We do a lot for the residents. We have a bus every day that takes them shopping to the groceries and to the pharmacy, and we do a lot of events for them. And we have designated support coordinators for each of the properties, and they work closely with the residents and try to bridge them to services that they need.
[00:05:01] Speaker A: Right. Which brings us to our topics today. Right, yes. Projects.
[00:05:05] Speaker B: Yep. We've had a lot of projects go on.
[00:05:07] Speaker A: Yeah.
[00:05:08] Speaker B: We worked cooperatively with the city on a project, 74 Bauer Road.
It was a house in total disrepair.
It was illegally occupied.
There was a lot of Drug paraphernalia. There was an old broken down camper in the driveway.
The house was in total disrepair. And together with the city, we took the property and we renovated the entire property and then we created a lottery for city employees or housing authority employees to qualify for affordable housing. And we just recently closed on it and now it's a new affordable unit for the city of Quincy and it has a new occupant and the property's been finished.
[00:05:51] Speaker A: Wow. Very good. So that is a success story for sure.
[00:05:54] Speaker B: It's a success story. It was. It was really bad when we started.
[00:05:58] Speaker A: Yeah. And when you do projects like that, certainly it's great for the tenants. Right. For the family that moves in. But for the neighborhood, I would think as well.
[00:06:06] Speaker B: Oh, I mean, this was totally a blight in the neighborhood. I mean, this house was. I would not want to live next to what this house was.
Certainly now it's a whole different animal.
[00:06:18] Speaker A: So it contributes to that neighborhood. So the property values in that neighborhood as well.
[00:06:22] Speaker B: Right, right, right. And it provides a family that needs affordable housing. With affordable housing, which is. Which is what our mission is.
[00:06:29] Speaker A: Absolutely. Yeah.
Northfield Road is a big project, Jim.
[00:06:33] Speaker B: Yeah. 9 Northfield Road is another property that we've purchased cooperatively with the city to develop it as an affordable unit. This unit's going to be different. This unit's going to be a rental. It'll have a project based voucher to it.
So when you say low income housing, people get all freaky and they don't understand exactly what the term low income housing means. This property that we bought is not low income housing as you would relate it to public housing.
People that are living on 30% of the median income. A project based voucher people can make as much as 80% of the median income. So these are people that have city jobs, police jobs, fire jobs, These are school teachers, These are people that are working in the city.
[00:07:19] Speaker A: Middle class folks, Right?
[00:07:20] Speaker B: Yeah. Right. So they qualify for a project based voucher. The voucher will stay with the property and then it'll stay an affordable unit going forward in perpetuity for the city.
And we intend to renovate the property fully. So it'll be a new home when we're done.
[00:07:35] Speaker A: Sure. So when folks rent a unit like that, are there terms to the lease
[00:07:40] Speaker B: that they pay basically 30% of their income as rent.
[00:07:45] Speaker A: So in perpetuity or.
[00:07:47] Speaker B: Right. So every year their rent would be calculated and they would pay 30% of their income towards rent. And then HUD would subsidize the rest through the project based voucher.
[00:07:58] Speaker A: Okay. And that doesn't expire?
[00:08:00] Speaker B: No.
[00:08:00] Speaker A: Okay. So that's their home.
[00:08:02] Speaker B: Yeah, that's their home until they choose to. Right. Or until they, you know, earn enough money that they want to move on.
[00:08:08] Speaker A: Gotcha. Okay.
[00:08:09] Speaker B: And then they move on and, you know, we redo the house.
[00:08:12] Speaker A: Somebody else. Yeah, yeah.
The big story really is the new units you're developing. First time ever, right?
[00:08:20] Speaker B: Yeah.
[00:08:21] Speaker A: Housing Authority.
[00:08:21] Speaker B: Yeah. Since the 70s, the housing authority hasn't built any new stock. So we're building 16 new affordable units. It's going to be called Mariners Cove. It's going to be located right at the entrance of o' Brien Towers.
Again, this is, this is a perfect example. This is a project that would not have been able to happen had Quincy Development Corporation not been formed. And you know, we not had purchased o' Brien Towers because this was federal land. It was owned by hud, it was controlled by hud.
And the Housing Authority had no legal ability to add affordable units. So without creating, you didn't own it, Right?
[00:08:58] Speaker A: Yeah.
[00:08:58] Speaker B: Not only that, we're restricted by the number of units that we have. We can't expand beyond that.
[00:09:03] Speaker A: I see.
[00:09:04] Speaker B: So the Housing Authority itself as an entity cannot own or operate any new units because both the federal government and the state government don't want to take on new affordable housing because it just puts such a demand on the financial obligations going forward.
So the only way you could do that is by creating this nonprofit that operates under the Housing Authority so that the nonprofit will own these 16 units.
They'll all be affordable. They'll be two bedroom units. They'll be in elevated buildings and they're going to be beautiful. They're going to be great size units and a huge opportunity for people that need affordable housing in Quincy.
[00:09:43] Speaker A: Yeah. Is construction underway?
[00:09:44] Speaker B: We're just waiting on the permit and we're about ready to break ground. Hopefully by the end of this month we'll be in the ground and have our foundation going in in July.
[00:09:52] Speaker A: Oh, very good.
[00:09:53] Speaker B: So we'll be in construction for the rest of the year.
[00:09:55] Speaker A: Okay. And timeline for completion?
[00:09:57] Speaker B: I would say probably a year, year and a half.
[00:10:00] Speaker A: Okay. And then how is it determined who can rent those units?
[00:10:04] Speaker B: So we'll be creating a new waiting list. Oh, okay. So there'll be a new waiting list advertised and it'll be published. It'll be on the Quincy Housing Authority website. And that waiting list will be specifically for Mariners Cove. Okay.
[00:10:16] Speaker A: And is that restricted to Quincy residence or is that. No. Okay. No, so anybody can get on that waiting list.
[00:10:22] Speaker B: Anybody can get on that waiting list. And.
And they're two bedroom units, affordable. They'll be paying 30% of their income as rent and the project based voucher will subsidize the rest.
[00:10:31] Speaker A: Okay, and that's what's there now. Is it just a vacant lot right now?
[00:10:35] Speaker B: Right now it's just a vacant lot, yeah. Right at the entrance of o'. Brien.
[00:10:38] Speaker A: Very good. All right.
Another part of the city, a huge development is Clay street in Wollaston.
[00:10:45] Speaker B: Yes. So we put out an RFP and we awarded it to Peabody Properties.
So right in the back of 80 Clay Street, Peabody Properties will be constructing, I would say they'll probably go Into Construction late 27, early 28.
They'll be building 94 new affordable units.
Those will mostly be one bedroom units. They'll be right in the rear of 80 Clay street, almost up by Hancock Street.
Beautiful building. And they're fully approved and they're putting their funding packages together now with the state. And it's going to be, going to be an incredible opportunity. I mean, between the two projects, we'll basically be bringing 110 affordable units to the city of Quincy in the next two years, which is, which is, you know, obviously needed and will be a huge benefit to the city.
[00:11:37] Speaker A: And will there be a waiting list also for that new building?
[00:11:40] Speaker B: There'll be a separate waiting list and that property will be managed by Peabody Properties.
[00:11:43] Speaker A: Okay.
[00:11:44] Speaker B: So the housing authority will not play a role in managing that property.
[00:11:47] Speaker A: I see. Okay. How big is that building, Jim? The one on Clay Street? How tall is it?
[00:11:52] Speaker B: I think they're six stories, I think.
[00:11:56] Speaker A: Okay. Okay.
[00:11:58] Speaker B: Yeah.
[00:11:59] Speaker A: And late 2028, you think it's going construction?
[00:12:02] Speaker B: I would say. Yeah, yeah, yeah.
[00:12:04] Speaker A: That's incredible. That's a vacant lot also right now, right? Yeah.
[00:12:07] Speaker B: Right.
[00:12:07] Speaker A: Okay. Lots going on.
[00:12:09] Speaker B: Lots going on.
[00:12:10] Speaker A: Not only that, but for the existing properties too, you have some celebrations, some parties.
[00:12:15] Speaker B: We got a lot going on. We've been having 250th celebrate America's birthday parties at all the buildings.
We've had an Elvis impersonator performing for all the elderly residents.
[00:12:28] Speaker A: Was it you?
[00:12:29] Speaker B: No, it wasn't me. It was not you. Wasn't me. I have short side.
[00:12:32] Speaker A: Yeah, Rich.
[00:12:33] Speaker B: But no, we've been having the 250th birthday celebrations at all the buildings.
We've had the Elvis impersonator and having cookouts at all the properties and it's been a huge success and the residents have been very appreciative.
[00:12:49] Speaker A: It's been great because these are, I mean, these developments, you know, these properties, these neighborhoods are communities in themselves, right?
[00:12:56] Speaker B: Yeah. I mean, really, each property has its own tenants association and it's kind of a community within a community.
[00:13:02] Speaker A: Right.
[00:13:03] Speaker B: And they're pretty tight knit, I would think.
[00:13:05] Speaker A: Yeah, they have their own kind of special qualities. Maybe one has young families, one has older folks.
[00:13:10] Speaker B: You know, the change over the years has been incredible because of all the improvements and, you know, the community rooms and the properties and the supportive services and the activities and, you know, before you would walk in, the community rooms would be empty and people would be staying in their units and kind of isolated.
And over the last decade, we've really tried to get people, you know, out of the isolation phase and really participating in the events that we have going on and being involved in the community. And when you walk into the buildings, the feeling is completely different.
You know, it's active and there's events going on almost every day and people are milling around and people know each other and it's just. It's completely different environment.
[00:13:55] Speaker A: Must be very gratifying for you to see that.
[00:13:57] Speaker B: It is.
[00:13:58] Speaker A: The past 13 years you've worked toward that.
[00:14:00] Speaker B: It is.
I've been blessed by having great people work for me.
We've got an incredible team and they've accomplished a lot of things and it's been a good ride.
[00:14:11] Speaker A: Yeah. And it's. I mean, you do this as a kind of a separate entity, really. I mean, it's not really under city purview for the. For the most part. Except for your board.
[00:14:19] Speaker B: Right, right. So the board is appointed by the mayor, and then we report to both EOHLC and we report to hud.
[00:14:28] Speaker A: Yes.
[00:14:28] Speaker B: So each one of them does an independent audit on the authority every year. We have financial audits by hud, we have a financial audit by the state, and then we have an independent third party audit every year.
So all of our funding comes either through the state or through hud, other than the CPC applications that we do and the grants that we get really were federally and state funded.
So that's a big confusion factor with people. A lot of people hear Quincy Housing Authority and they assume that somehow it's tied to the city, it's a city department, Somehow it's a city department. And no, it's not a city department.
We're fortunate. We have an incredible mayor and we have a great relationship and that makes things very, very, very easy. And it just encourages a relationship that we're able to provide better services to the tenants, by working together with the city and by having that relationship, we're able to deliver better products to the residents and to make them have a better quality of life.
[00:15:30] Speaker A: Well, like any other developer, you have to abide by all the city's zoning requirements and planning requirements, setback requirements, parking, all of those things. You have to go through that whole process just like anybody else. Right.
[00:15:43] Speaker B: There's a lot of resources that the city has that is helpful. When those resources are pooled together with the Housing Authority's resources, it makes it, you know, much better for the residential.
[00:15:56] Speaker A: Speaking of O' Brien Towers, big party tomorrow.
[00:15:59] Speaker B: Yeah, yeah. Tomorrow's the 250th birthday party of America celebration at O' Brien Towers. We've done a lot of work there. We just built an outdoor pavilion in the back of o' Brien Towers overlooking the water. And we've done a lot of improvements there.
So it'll be a good time tomorrow.
[00:16:18] Speaker A: Excellent. And that's for the residents, right?
[00:16:21] Speaker B: That's right. For the residents, yes.
[00:16:24] Speaker A: Snug harbor family party coming up soon too as well.
[00:16:26] Speaker B: We do. We have a big party planned for all the families in Snug Harbor. It'll have entertainment. We'll have a lot of vendors there, jumpy houses for the kids.
We're actually going to have a wiffle ball tournament. Wiffle ball throwback. It's going to be the employees of the Housing Authority versus the residents.
[00:16:46] Speaker A: Oh, wow. Okay.
[00:16:48] Speaker B: Should be interesting. Hopefully no one gets hurt.
[00:16:50] Speaker A: Who's pitching for the authority?
[00:16:51] Speaker B: I don't know.
[00:16:52] Speaker A: Okay.
[00:16:54] Speaker B: And then we're going to. We're going to have some other games there that the residents will be able to play. And we're looking forward to that. It's on Wednesday, June 24th.
[00:17:04] Speaker A: Very good. Yep.
And then we take it into August right away.
80th birthday party.
[00:17:11] Speaker B: August. We're celebrating 80 years for Quincy Housing Authority. Wow. Quincy Housing Authority is going to be 80 years old this year.
We actually were fortunate enough to get the Joshua Tree Band.
They are the most well known U2 tribute band.
They're actually going to be playing on the beach in Snug harbor for all the residents and for the employees and their families. And we're looking forward to an incredible event.
[00:17:37] Speaker A: August 14th.
[00:17:38] Speaker B: August 14th. Friday, August 14th.
[00:17:40] Speaker A: So 80th anniversary. So 1946.
[00:17:43] Speaker B: Yes.
[00:17:43] Speaker A: The authority was founded, so stemmed from naval housing, is that right? Initially it did, yeah.
[00:17:48] Speaker B: And it stemmed from all the land that was donated down in Snug Harbor. It was part of a sailor's home.
[00:17:54] Speaker A: Sure. Okay.
[00:17:55] Speaker B: Yep.
[00:17:55] Speaker A: And it has grown since then, for sure.
[00:17:57] Speaker B: It's grown and growing more. Yeah, and gonna grow more.
[00:18:01] Speaker A: Do any other authorities, I mean, you said also, was it Marshfield, Hingham, Hanson,
[00:18:07] Speaker B: In Holbrook and Holbrook, Yeah. So we manage those through interstate management agreements. So Quincy Housing Authority is the actual managing agent. And then they enter into an interstate agreement and then we manage those other housing authorities through the Quincy Housing Authority. They still maintain their own board of commissioners.
[00:18:26] Speaker A: I see.
[00:18:27] Speaker B: It's just that we manage the day to day operations. So we manage the administrative operations, we manage the maintenance operations and everything else other than the board of commissioner responsibilities.
[00:18:39] Speaker A: And why is that, Jim?
[00:18:41] Speaker B: Well, the state has really been pushing for housing authorities with under 500 units to really merge with a larger unit.
[00:18:48] Speaker A: I see.
[00:18:49] Speaker B: Typically those smaller housing authorities tend to be mismanaged.
They usually only have an executive director, a couple of staff members, maybe one or two maintenance people.
Usually they have a very difficult time turning over units. They have a difficult time.
You're asking one executive director to do the work of 100 people.
[00:19:09] Speaker A: I see.
[00:19:10] Speaker B: So they have to be the inspector, they have to be the mod coordinator, they have to be the person doing all the admin staff, running the waiting list, interviewing tenants, doing inspections. You're basically setting them up for failure.
So really there's been a big push for the smaller agencies to get managed by a larger agency, which then you have the resources from that larger agency that you can kind of spread out and you can build those resources on the larger agencies so that you can expand and take over more smaller housing authorities and it becomes more financially, you know, it becomes more financially responsible for the state side. Rather than having five executive directors. You only have one.
[00:19:54] Speaker A: Yes.
[00:19:55] Speaker B: So then it lessens the burden on the retirement system. It lessens the burden on the financial end for the state.
So it's.
There's been a big push for that.
[00:20:05] Speaker A: Do you foresee taking any others over from the Quincy Housing Authority?
[00:20:09] Speaker B: Yeah, I mean, we'll definitely continue to grow.
There's a push now to create regional authorities.
So each of the larger housing authorities would be a push to take over a region.
So that's kind of where the state has been trying to go over the last decade anyway.
It's been a slow process, but that's where they want to go. They want to have regional authorities, larger authorities with bigger staff and more resources and kind of bridge out and take care of all the smaller ones.
[00:20:42] Speaker A: Sure.
Something new.
The Snug Harbor Trail.
[00:20:47] Speaker B: Yeah. So this is a Real exciting project that we're working on. We're creating a two and a half mile walking trail all the way around Snug Harbor. It'll be open to the public as well as the residents in Snug Harbor. It'll be a multi purpose trail.
It will be for biking, jogging, walking.
The majority of the trail walks actually along the water's edge.
So it'll start at the school and end at the school.
It'll be, you know, people want to go out for a two and a half mile jog along the ocean.
This trail will be an incredible asset for the city.
So right now we're in the final stages of securing funding.
It'll be a multi faceted funded project through the Commonwealth of Massachusetts, through eohlc, hopefully through cpc. We're going before them tonight and together the resources will be able to make this walkway become a reality. The Snug Harbor Trail.
[00:21:48] Speaker A: Wow. Is it a paved trail?
[00:21:50] Speaker B: Talking about it'll be a paved trail. It'll be 10ft wide. Yeah.
[00:21:53] Speaker A: Okay. And lighting as well.
[00:21:56] Speaker B: It'll have lighting, it'll have benches, it'll have all the amenities. And we're talking about maybe creating some historic significance to the city and having monuments throughout the trail that, you know, speak to all the historic significance to the city of Quincy. Really? Yeah. Okay, so this is something really cool
[00:22:14] Speaker A: to look forward to. Yeah. If all the pieces fall into place, what's the timeline?
[00:22:19] Speaker B: We hope to be in construction by the end of this year.
[00:22:21] Speaker A: Okay.
[00:22:22] Speaker B: Yeah, we're being pretty aggressive about getting this done. Yeah, it's kind of been on the wish list for the last 10 years.
[00:22:28] Speaker A: Is that right? Have residents been requesting it?
[00:22:32] Speaker B: Yeah, I mean, most of the residents are for it. There are some that, you know, have some concerns over some of the issues, but some of those issues exist now anyway, you know, and there's always a pushback when it comes to change.
You know, people hear about change and there's always a little bit of pushback that that comes with it. But in the end, when it's all said and done and it's up and running, you know, change most of the time is for the better.
[00:22:56] Speaker A: Well, I mean, the fact that it'll be open to the public, that's an area that most people can't access.
Right now.
Walking trails seem to be like the Neponset Trail has been hugely popular. I know. And Broadmeadows Marsh as well.
[00:23:09] Speaker B: And this will go really well.
The city is working on getting a grant right now for the Snug Harbor School, which will entail about $3 million of improvements to the Snugger harbor trail to the Snug Harbor School as well as create safe walkways for the kids that, you know, down at Snug Harbor there's over 500 kids under the age of 12. You know, they, most of them walk to school, they bike to school. Currently they're in the street, they're on the sidewalks, they're kind of all over the place.
So I know that they're working on a 2, $3 million grant to improve all of that for the Snug Harbor School. So this trail kind of just kind of goes hand in hand with the improvements that they're trying to get done on the school.
[00:23:52] Speaker A: Sure, sure. Take a safe walking trail to school rather than trying to cross a busy street or something. Looks very good.
Anything else we should let folks know about right now?
[00:24:02] Speaker B: Right now, that's what we've got going on.
[00:24:04] Speaker A: Is that all, Jim?
[00:24:05] Speaker B: We've got a lot going on. You do? Indeed we do.
[00:24:08] Speaker A: Other, you know, job opportunities at the housing authority.
[00:24:12] Speaker B: There's always job opportunities at the housing authority. We post them on our website.
Generally we post them on. Indeed.
Right now we're looking for a part time inspector to inspect properties.
Those will be primarily Section 8 properties.
But there's, there's always job opportunities. We, right now we employ just about 120 people and growing.
[00:24:36] Speaker A: Sure, I would think, yeah.
[00:24:37] Speaker B: Every year we've been expanding the offices. We're almost to a point that we have no more space to expand to.
[00:24:43] Speaker A: Is that right? Okay, that'll be the next time.
[00:24:45] Speaker B: That might be the next project. That might be the next time.
[00:24:48] Speaker A: Quincyha.com website yes, to go to or 617-847-4350 is your main office phone number as well.
[00:24:57] Speaker B: And we have all of our applications online.
All the information about our sites are online.
The website's pretty user friendly.
[00:25:05] Speaker A: Okay, great. And those waiting lists for the new
[00:25:08] Speaker B: properties will be up there and those waiting lists will be loaded and advertised in the local paper as soon as they're open.
[00:25:13] Speaker A: Excellent. Appreciate the update. Jim, great to talk to you.
[00:25:16] Speaker B: Nice talking to you, Joe.
[00:25:17] Speaker A: Thank you very much.
[00:25:18] Speaker B: See you again soon.
[00:25:19] Speaker A: Thanks for watching us here at AM Quincy. I'm Joe Catalano and we'll see you next time.
