Title
Consider/Discuss Changes to McKinney Community Development Corporation Grant Program
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
Enhance the Quality of Life in McKinney
MEETING DATE: June 26, 2018
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation board members will consider/discuss proposed changes to MCDC’s grant programs to include:
o Creation of a pilot program for Retail Development Infrastructure Grants - to establish criteria, process and scope for retail development support
o Clarification of Policy for Promotional and Community Event grants
BACKGROUND INFORMATION:
• Currently McKinney Community Development Corporation provides two distinct types of grant opportunities:
o Project Grants provide financial support for projects eligible for consideration under Sections 501 and 505 of the Texas Local Government Code. These include:
• Projects Related to the Creation or Retention of Primary Jobs
• Infrastructure Improvement Projects Necessary to Develop New or Expanded Business Enterprises
• Public Parks and Open Space Improvements
• Projects Related to Recreational or Community Facilities
• Professional and Amateur Sports and Athletic Facilities, including Children’s Sports
• Entertainment, Tourist and Convention Facilities
• Projects Related to Low Income Housing
• Mass Transit-Related Facilities and Equipment
• Airport Facilities
• Promotional and Community Event Grants provide financial support (not to exceed $15,000 per grant) for initiatives, activities and events that promote the City of McKinney for the purpose of developing new or expanded business opportunities, to attract visitors to our community and enhance quality of life for McKinney residents
• MCDC board members will discuss adding a third grant category - Retail Development Infrastructure Grants
• Board members will also discuss changes/clarification to Promotional and Community Event grant policy to address how event participant/ registration fees impact eligibility for consideration for funding
FINANCIAL SUMMARY:
• MCDC’s allocation for Community Project Grants in FY 18 is $1,259,745
• MCDC’s allocation for Promotional and Community Event Grants in FY 18 is $150,000