Title
Conduct a Public Hearing and Consider/Discuss/Act on Retail Development Infrastructure Grant Application Submitted by The Neathery Estate Bed and Breakfast (RI 23-04) in the Amount of Up to Twenty One Thousand Two Hundred Forty-Three and 75/Dollars ($21,243.75) for Infrastructure for Back Porch Restoration Including Foundation, Site Work, Water/Sewer Rough-in and for Security Enhancements Including Electrical Work and Fencing and Replacement of Landscape at Dig Site at the Property Located at 215 North Waddill Street, McKinney.
Summary
COUNCIL GOAL: 5: Enhance the Quality of Life in McKinney
5C: Promote reinvestment activities and ordinance changes in Historic Downtown McKinney that balance preservation of historic character and current market needs.
MEETING DATE: February 23, 2023
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 Neathery Estate at 215 North Waddill Street, McKinney.
• Infrastructure Improvements for back porch restoration include foundation, site work, water/sewer rough-in and for security enhancements including electrical work and fencing and replacement of landscape at dig site.
BACKGROUND INFORMATION:
• The Neathery Estate is a bed and breakfast located in Historic Downtown McKinney.
• Built in 1915, the home is listed on the National Historic Register. The home was restored in 2018 and now supports tourism in Downtown McKinney.
• The infrastructure improvements are necessary to increase safety and security for guests and to improve the guest experience.
FINANCIAL SUMMARY:
• Funds allocated for FY23 Retail Development Infrastructure Grants is $200,000.
• This grant requires a 25% match, and the maximum grant funding limited to $50,000 per grant.
• The Neathery Estate was awarded a retail development infrastructure grant in 2021 in the amount of $25,000.
• The request is eligible for MCDC consideration under Section 501.103 of the Texas Local Government Code.
SUPPORTING MATERIALS:
• Application Packet
• Presentation