Cross_cutting

1:17:58 So it's simply a matter of how do we create a structure that allows us to start to capture that existing value on single properties and weave it into a strategy where we can support people who do not have the means to do the development. But we can set some structures up in a trust sort of a model. Continue to do things like the affordable housing fund that the city has and it's a huge asset. For every dollar they collect, it generates about 8 to 9 dollars worth of return on value because of the access it gives to other capital. So we've got to really rethink this thing and start investing in how we're going to make that happen. The other piece of it is the systems that are in play will not facilitate the scope of development and construction we need to do. So that has to be grounded back on new business development.

1:18:53 And we should be designing some initiatives that allow new people that want to get into the construction industry a way to build their capacity to do so. And I'm excited that Fourth Plain is going to take on that with this new grant that they've used with some of the ARPA money. So in my mind, you folks, the institutional players are doing the best job you can do. Probably better than anybody else in the country when you look at where things are at. But new tools have to be generated and somebody has to step up and say how we make that happen. Well, I totally agree. I think that we're trying to be as innovative as possible. I think we just released an RFP where we were seeking out development partners for a project where we were sort of like, how can we reduce the cost per door?

1:19:48 And so we're in the negotiation process, but we're trying to think about how to use some of the technology that goes behind modular development. But think about modularity and not necessarily an implementation, but use the efficiency and the design and the planning for the project. And so hopefully we continue to move forward on something like that. And if all goes well, we could significantly reduce the cost per unit. We're looking at modeling anywhere close to $100,000 per unit of savings. So I think it's really a credit to not just VHA, but the partners and the development community.