Title
Consider/Discuss/Act on a Request from the City of McKinney, Housing and Community Development Department to extend the term of the Loan Agreement Executed with McKinney Community Development Corporation for Project #19-09, Effective May 23, 2019 to December 31, 2020.
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: June 25, 2020
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• The McKinney Community Development Corporation conducted a public hearing on the project grant application submitted by The City of McKinney, Housing and Community Development Department in the amount of $150,000 to fund home repairs and maintenance for low income residents in McKinney. The grant request was approved at the meeting on May 23, 2019. Effective date - May 23, 2019. Term is June 30, 2020. The applicant has requested an extension of the term to December 30, 2020.
BACKGROUND INFORMATION:
• Support for affordable housing is a strategic priority of the MCDC board of directors.
• In 2018, the city’s building codes were updated and included the addition of the 2015 International Property Maintenance Code (IPMC). The IPMC regulates the minimum maintenance for existing buildings. Enforcement began March 29, 2019.
• Historically, code enforcement focused on violations around the home such as: high weeds and grass; trash/limbs debris on the property; junk vehicles, etc.
• With the addition of IPMC, enforcement will also include maintenance of the home such as: broken windows; peeling paint; dilapidated roof; failing foundations, etc.
FINANCIAL SUMMARY:
• The request was eligible for MCDC consideration under Section 505.153 of the Texas Local Government Code - Projects Related to Affordable Housing.
SUPPORTING MATERIALS:
Request for extension
Executed Loan Agreement