Title
Conduct a Public Hearing to Consider/Discuss/Act on a Resolution Amending the Project Plan for Tax Increment Reinvestment Zone Number One
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5D: Promote reinvestment activities in McKinney's historic downtown that balance the historic character and current market needs)
MEETING DATE: November 3, 2020
DEPARTMENT: Development Services - Planning Department
CONTACT: Mark Doty, Assistant Director of Planning
Jennifer Arnold, AICP, Director of Planning
RECOMMENDED BOARD ACTION:
* Staff recommends approval of the proposed resolution.
ITEM SUMMARY:
* The Board for Reinvestment Zone Number One (TIRZ 1) is considering a resolution to amend the project plan for TIRZ 1. If the resolution is approved, the City Council will be asked to consider an ordinance amending the project plan for TIRZ 1.
* The proposed amendments to the TIRZ 1 were reviewed and received support on September 1.
* The proposed changes to the TIRZ 1 policy would require amendments to the TIRZ 1 Policy Plan.
* Proposed additions to the TIRZ 1 Project Plan include:
* Create a 'Critical Maintenance' project type under the 'Catalyst Projects' and 'Vacant/Underutilized Sites/Buildings' categories
* Create a 'Fire Suppression' project type under the 'Catalyst Projects' and 'Vacant/Underutilized Sites/Buildings' categories
BACKGROUND INFORMATION:
* The Project Plan of the TIRZ focuses on support for catalytic projects for the continued revitalization of the Town Center; key regional transportation infrastructure for effect access and linkages throughout the Town Center including connections between the Historic Square to the west of Highway 5 and the future Transit-Oriented Development (TOPD) to the east of Highway 5, as well as safe auto, pedestrian and bicycle movements along Highway 5 and within the supporting street network of the Town Center infrastructure and development of the TOD; and for other potential locati...
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