Title
Conduct a Public Hearing to Consider/Discuss/Act on the Approval and Ratification of a Letter of Intent Between the City of McKinney, Texas and Columbus Realty Partners, Ltd. for a Mixed-Use, Economic Development Project (on Approximately 8.766 Acres Located Generally Between Davis Street, Tennessee Street, McDonald (SH5) Street, and Anthony Street)
Summary
COUNCIL GOAL: Enhance the Quality of Life in Downtown McKinney
MEETING DATE: January 19, 2016
DEPARTMENT: Development Services
CONTACT: Michael Quint, Executive Director
Matt Robinson, Planning Manager
RECOMMENDED CITY COUNCIL ACTION:
• Conduct Public Hearing and Approve Letter of Intent
ITEM SUMMARY:
• The City Manager has negotiated a Letter of Intent with Columbus Realty Partners for the transfer and development of an 8.766 acre parcel in the downtown Historic District.
• If approved, the City and Columbus Realty Partners will move forward with definitive agreements for consideration in February 2016.
• If approved, a related item on parking in the Project will be placed on the January 25, 2016 Work Session agenda.
BACKGROUND INFORMATION: N/A
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A