Title
Consider/Discuss/Act on Ratifying the McKinney Community Development Corporation FY 2018 Amended and Budget Adopted by the City Council
Summary
COUNCIL GOAL: Enhance Quality of Life in McKinney
Direction for Strategic and Economic Growth
MEETING DATE: September 28, 2017
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• Approval is being requested to ratify the FY 18 MCDC budget as amended and approved by City Council on September 19, 2017.
BACKGROUND INFORMATION:
• MCDC board members approved a budget to forward to City Council at the August 24, 2017 regular meeting.
• The budget that was approved included a subsidy for Apex Centre operations in the amount of $696,934.
• Subsequent to MCDC board action, the subsidy was amended to include the cost to expand the Apex Centre customer service staff with a cost of $78,336.
• The staff addition increases the Apex Centre subsidy to $775,270 for FY 18.
FINANCIAL SUMMARY:
• Total FY 18 subsidy for Apex Centre operations is $775,270, as approved by City Council. MCDC board ratification is requested.