Title
Conduct a Public Hearing to Consider/Discuss/Act on an Ordinance Amending the Project Plan for the 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 CITY COUNCIL ACTION:
* Staff recommends approval of the proposed ordinance.
ITEM SUMMARY:
* The Board for Reinvestment Zone Number One (TIRZ 1) considered a resolution to amend the project plan for TIRZ 1 at the November 3, 2020 meeting. As such, Staff is not presenting an ordinance adopting the amended project plan for TIRZ 1.
* The proposed amendments to the TIRZ 1 were reviewed and received support on September 1.
* 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 locations and projects that provide opportunity for redevelopment.
* TIRZ was created with the pr...
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