Title
Update on the Texas Main Street Program
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
MEETING DATE: February 19, 2019
DEPARTMENT: MPAC / Main Street & Community Events
CONTACT: Amy Rosenthal, Director
McKinney Main Street and McKinney Performing Arts Center
RECOMMENDED CITY COUNCIL ACTION:
No action required - discussion only
ITEM SUMMARY:
McKinney Main Street is one of 90 programs across the state of Texas. McKinney Main Street is recognized as a leading program in Texas.
Main Street is a national program housed within the National Trust of Historic Preservation. It is founded on a four point approach that addresses design, organization, promotion and economic vitality.
Texas Main Street defines and reinforces the benefits of a city’s commitment and investment in their historic downtowns.
BACKGROUND INFORMATION:
McKinney was first accredited as a Main Street from 1982 to 1991. In 2004, McKinney re-entered the program as an Urban Main Street. McKinney Main Street is a public-private partnership with a nine member Council appointed board. Two city staff members manage the non-profit McKinney Downtown Business Re-Development, Inc. that provides operational funding for events and downtown promotions.
FINANCIAL SUMMARY:
Historic Downtown McKinney has a high concentration of independently-owned businesses. In 2016, District Property Values were $337,543,216 and reported sales were $90,323,400 with McKinney Sales Tax Collected in District 2016 at $1,806,468 - calculating a ROI of $427,866,616.