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Consider/Discuss/Act on an Ordinance Amending the McKinney Economic Development Corporation FY2017-18 Budget to Provide Funding for the Acquisition of Land
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COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: May 15, 2018
DEPARTMENT: MEDC
CONTACT: Abby Liu, Interim President
RECOMMENDED ACTION: Approve Ordinance
ITEM SUMMARY:
• This Ordinance amends the Fiscal Year 2017-2018 McKinney Economic Development Corporation’s Annual Budget to provide funding for the acquisition of land, which will allocate $14,500,000 from fund balance.
BACKGROUND INFORMATION:
• On May 15, 2018 McKinney Economic Development Corporation’s (MEDC) Board approved amending the budget for Land Acquisition.
FINANCIAL SUMMARY:
• This Ordinance amends the Fiscal Year 2017-2018 McKinney Economic Development Corporation’s Annual Budget to provide funding for the acquisition of land, which will allocate $14,500,000 from fund balance.