Title
Conduct a Public Hearing and Consider/Discuss/Act on a Project Grant Application Submitted by Haddington Fund, LP (4B 25-09) in an Amount of One Million Five Hundred Thousand, and NO/100 Dollars ($1,500,000.00) for Renovations and Addition of a Boutique Hotel at The Flour Mill Located at 407 E. Louisiana Street, McKinney, Texas.
Summary
COUNCIL GOAL: 1: Direction for Strategic and Economic Growth
1B: Continue to develop a retail development strategy for key areas of the community to further diversify revenue sources and expand entertainment, dining and shopping options and tourism . . .
5: Enhance the Quality of Life in McKinney
5C: Promote reinvestment activities . . . in Historic Downtown McKinney that balance preservation of historic character and current market needs.
MEETING DATE: January 23, 2025
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation will conduct a public hearing on a project grant application submitted by The Haddington Fund, LP, for renovations and construction of a boutique hotel at The Flour Mill in McKinney.
• Full scope of renovations at The Flour Mill
BACKGROUND INFORMATION:
• The McKinney Flour Mill opened in 1872 and is now a historic gem and focal point in the heart of McKinney’s East Side and Historic Cultural District.
• The venue hosts corporate events, weddings and other celebrations in its unique event halls.
• Additionally, The Flour Mill is home to several local businesses.
FINANCIAL SUMMARY:
• Funds allocated for FY25 for discretionary Community, Economic Development and Pipeline Project grants total $7,459,257
• The request is eligible for MCDC consideration under Section 505.152 of the Texas Local Government Code
SUPPORTING MATERIALS:
• Application Packet
• Presentation