Title
Consider/Discuss/Act Approving an Amended Exhibit in the Chapter 380 Economic Development Agreement between the City of McKinney and VCIM Partners, L.P.
Summary
MEETING DATE: January 15, 2013
DEPARTMENT: City Manager
CONTACT: Jason Gray
RECOMMENDED CITY COUNCIL ACTION: Approve Amended Exhibit
ITEM SUMMARY:
· VCIM Partners, L.P. requested a minor change in the area to be covered by the agreement.
· The City Council on December 6, 2012 approved a Chapter 380 Agreement with VCIM Partners, L.P. to provide incentives to the McKinney Corporate Center at Craig Ranch
BACKGROUND INFORMATION:
· The City has the authority under Chapter 380 of the Texas Local Government Code to make loans or grants of public funds for the purposes of promoting state or local economic development by stimulating business and commercial activity.
FINANCIAL SUMMARY:
· N/A
BOARD OR COMMISSION RECOMMENDATION:
· N/A