Title
Conduct a Public Hearing and Consider/Discuss/Act on a Retail Development Infrastructure Grant Application Submitted by Haddington Fund, LP (RI 24-04) in an Amount of Sixteen Thousand Eight Hundred Eighty-Six and 25/100 Dollars ($16,886.25) for Construction of a Retaining Wall, Walkway, Stairs and Brick Paver Reset at The Flour Mill Located at 407 E. Louisiana Street, McKinney, Texas.
Summary
COUNCIL GOAL: 1: Direction for Strategic and Economic Growth
1C: Continue to develop a retail strategy for key areas of the community to diversify revenue sources and expand entertainment, dining and shopping options and tourism.
MEETING DATE: February 22, 2024
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 construction of a retaining wall, walkway, stairs and brick paver reset at The Flour Mill.
• This project will divert rainwater and improve access to the building at 501 E. Louisiana for current and future use.
• For current uses, these improvements will allow guests (especially brides) to walk between upper and lower levels without concern of dirt, mud and grass.
• Future plans include a restaurant in the lower-level walkout basement. These improvements will provide access needed for the new business.
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 MCDC Retail Development Infrastructure Grants total $300,000. The maximum award for any single grant is $50,000.
• In FY 2023, MCDC was awarded a Retail Development Infrastructure Grant for $25,000 for infrastructure exterior site improvements necessary for the creation of a catering business and outdoor restaurant (Garden Café) and a Project Grant for $59,537.50 for rooftop signage at the Flour Mill.
• The request is eligible for MCDC consideration under Section 501.103 of the Texas Local Government Code.
SUPPORTING MATERIALS:
• Application Packet
• Presentation