Title
Consider/Discuss/Act on a Resolution Adopting a Joint Marketing Program for the Collin County Regional Airport
Summary
MEETING DATE: April 3, 2012
DEPARTMENT: City Manager
CONTACT: Jason Gray
RECOMMENDED CITY COUNCIL ACTION: Approve Resolution
ITEM SUMMARY:
· This Program will enhance the economic development of the region and will increase the financial viability of the Collin County Regional Airport.
· The Program is based on a mutual desire for significant corporate headquarters to be located within the region and to provide for an opportunity for corporate flight departments to be included in local economic development negotiations.
· In order to qualify for the program, a user would have to commit to relocating their corporate flight department to TKI within five years of executing a development agreement with a participating entity.
· For qualifying aircraft that are subject to a development agreement with a participating entity, McKinney will offer a standard Section 380 grant in an amount equal to 25% of the AV taxes paid to the City of McKinney for aircraft relocated to TKI for five years.
BACKGROUND INFORMATION: N/A
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A