Title
Consider/Discuss/Act on Development Services Related to the Hotel and/or Conference Center in the Gateway Project
Summary
MEETING DATE: December 6, 2011
DEPARTMENT: Administration
Development Services - Engineering
CONTACT: Jason Gray, City Manager
Patricia L. Jackson, P.E., Facilities Construction Manager
RECOMMENDED CITY COUNCIL ACTION:
· The City Council will receive a presentation from the project team, discuss the options available and provide direction to the City Manager for the next step related to a hotel and/or conference center in the Gateway Project
ITEM SUMMARY:
· The project team will provide an overview of the study that Matthews Southwest has been working on over the past two months.
· Council will have an opportunity to discuss the various elements of the project.
· If possible, the City Council may provide direction to the City Manager regarding the development services for a hotel and/or conference center in the Gateway Project or the next step in the process.
BACKGROUND INFORMATION:
· The City of McKinney owns the land within the area known as the Gateway Project located at the “gateway” to the City of McKinney at the northeast corner of the intersection of US 75 and the Sam Rayburn Tollway.
· Over the last two months the discussion that have occurred with Matthews Southwest and City Staff have been primarily focused on development of a recommendation regarding the Hotel-Events Center portion of the Gateway project with minor discussion regarding development of the balance of the site.
· The discussion and study of the hotel portion have focused primarily on the following elements:
· Potential flags
· Service Level
· Market for hotel occupancy
· Range of project sizes
· Cost of options
· Acceptable areas to trim project cost
· Operational risk
· Amount of City investment
· Interest from potential financial partners
· Repurposing the site for alternate uses/users
FINANCIAL SUMMARY:
· Funding for the project will be...
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