Title
Consider/Discuss/Act on a Project Grant Application Submitted by McKinney HUB 121, LLC (#18-05) in the Amount of $400,000.00 ($200,000 Grant; $200,000 Type B Sales/Use Tax-based Grant from Revenue Generated by the Project) for the Construction of a Privately Owned, Public Access Pavilion that will Provide Landscaping, Shade Structures, Amphitheater, Electrical System, Sound System and Seating Areas for the HUB 121 Entertainment, Retail, Restaurant Mixed-Use Development in Craig Ranch; Total Estimated Cost for Pavilion Construction is $724,946.00; Amount Requested Represents 56% of the Total Project Cost
Summary
COUNCIL GOAL: Enhance Quality of Life in McKinney
MEETING DATE: April 26, 2018
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
* The required public hearing for this project was held on April 26, 2018
* McKinney HUB 121, LLC is a Texas Limited Liability Company organized specifically for the development of the Northwest corner of Alma Road and the Sam Rayburn Tollway.
* In 2018, HUB 121 will begin construction on the first phase of an entertainment, restaurant, hotel and multi-family development.
* Central to the Project design is a privately maintained green space, open to the public and located along the existing hike and bike trail in Craig Ranch (the Pavilion).
* HUB 121 is requesting $400,000 ($200,000 grant; $200,000 Type B sales/use tax-based grant from revenue generated by the Project) for the construction of a privately owned, public access Pavilion that will include landscaping, shade structures, amphitheater, electrical system, sound system and seating areas.
* The Pavilion is designed to provide pedestrian and cyclist access to the restaurant and entertainment area - and tie the adjacent restaurants together into one cohesive development.
* The Pavilion will have programmed events to aid in the promotion and marketing of the Project and entertain patrons.
* The Pavilion wi...
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