Title
Conduct a Public Hearing and Consider/Discuss/Act on a Project Grant Application Submitted by Badminton AA Real Estate, LLC (#22-06) in the Amount of One Million Five Hundred Thousand Dollars and NO/100 ($1,500,000.00) for Funding of Construction of a Badminton Facility to Include Badminton Courts, Coach Offices and Locker Rooms Located at 8800 Silverado Trail, McKinney, Texas. Amount Requested Represents 25% of Total Project Cost.
Summary
COUNCIL GOAL: 5: Enhance Quality of Life in McKinney
(5A): Create affordable recreational and cultural arts activities for all ages throughout the city
MEETING DATE: January 27, 2022
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
* Badminton AA Real Estate, LLC (d.b.a. Badminton Academy of America LLC) is requesting $1,500,000 for construction of a 38,000 square foot badminton facility to include 22 courts, coach offices and locker rooms located at 8800 Silverado Trail, McKinney.
* The facility will be the largest badminton facility in Texas and will include:
o 22 state-of-the-art international standard courts;
o Pro shop;
o reception and storage areas;
o dining area;
o rest rooms, showers and locker rooms;
o open space for fitness and yoga classes; and
o 30,000 square foot office building to serve as headquarters for a global innovative IT services firm.
* Anticipated membership is 1,200 within two years. Badminton is a popular international sport and this facility will serve McKinney's growing international community.
* Construction will begin in early 2022 with operations commencing in late 2022 or early 2023.
BACKGROUND INFORMATION:
* The mission of Badminton Academy of America LLC Academy is to provide a state-of-the-are badminton facility in McKinney and produce champions of the sport by providing quality and efficient training programs.
FINANCIAL SUMMARY:
* Funds allocated for FY22 for discretionary Project Grants is $1,749,025.
* The requ...
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