Title
Conduct a Public Hearing and Consider/Discuss/Act on a Retail Development Infrastructure Grant Application Submitted by Haddington Fund, LP (RI21-01) in an Amount of Up to Twenty-Five Thousand and No/100 Dollars ($25,000.00) for Reimbursement of Expenses Related to Dirt and Concrete, Retaining Walls, ADA Compliant Ramp, Artificial Turf, Landscaping, Irrigation and Electrical Work for
Ashlee’s Garden Special Events Space, Located at The Mill at East McKinney, 601 E. Louisiana Street, McKinney, Texas.
Summary
COUNCIL GOAL: 1: Direction for Strategic and Economic Growth
(1B): Continue to develop a retail development strategy for key areas of the community to further diversify revenue sources and expand entertainment, dining and shopping options and tourism.
5: Enhance Quality of Life in McKinney
(5D): Promote reinvestment activities in McKinney’s historic downtown that balance preservation of historic character and current market needs.
MEETING DATE: February 25, 2021
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation will conduct a public hearing on a retail development infrastructure grant application submitted by The Haddington Fund, LP for exterior infrastructure improvements at The Mill at East McKinney.
• The improvements include site utilities, excavation and concrete and landscaping for Ashlee’s Garden at The Mill at East McKinney facility.
BACKGROUND INFORMATION:
• Ashlee’s Garden is an outdoor, 3,500-square foot event space located between two of the buildings at The Mill at East McKinney.
• The business plan for this space includes using it for outdoor wedding ceremonies, receptions, small intimate concerts and parties.
• To be usable, the space requires grading and drainage improvements.
• Currently the event business at The Mill hosts three to four events on average each month.
• Wedding event business is most significant and with the addition of Ashlee’s Garden, wedding business can be expanded.
FINANCIAL SUMMARY:
• Funds allocated for FY21 Retail Development Infrastructure Grants is $120,000.
• This is a matching grant program, with maximum grant funding limited to $25,000 per grant.
• The request is eligible for MCDC consideration under Section 501.103 of the Texas Local Government Code.
SUPPORTING MATERIALS:
Application Packet