Title
Consider/Discuss/Act on an Amendment to Project #16-06, McKinney Rotary Foundation All Abilities Playground, to Provide Additional Funding in an Amount Not to Exceed Seventy-Five Thousand Dollars ($75,000); Total Construction Cost is Estimated to be Five Hundred, Three Thousand, Two-Hundred Dollars ($503,200); Total Requested from MCDC ($275,000) Represents 55% of the Construction Cost of the All Abilities Playground
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
MEETING DATE: May 25, 2017
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Rotary Foundation submitted a supplemental Project Grant Application requesting additional funding, in an amount not to exceed $75,000 for the All Abilities Playground.
• The MCDC Board approved grant funding in an amount of $200,000 in March, 2016.
• If the supplemental request is approved, MCDC funds would total an amount not to exceed $275,000 for the All Abilities Playground.
BACKGROUND INFORMATION:
• The mission of the McKinney Rotary Foundation is to provide humanitarian services and support to improve the quality of life for better health, well-being and education of all populations, including the underserved through many avenues; including improved recreation options, health care options and opportunities and leadership training and scholarships.
• The McKinney Rotary Foundation requested grant funding from MCDC for construction of an All Abilities Playground in 2016.
• The project grant (#16-06) was approved by the MCDC Board in March, 2016.
• Total estimated cost for construction of the project is $503,200 based on the contractor’s bid.
• To date, McKinney Rotary Foundation has secured $430,295 in cash and pledges - including $200,000 from MCDC and $35,000 from the Rotary Foundation. Fundraising continues and includes grant solicitation and special events.
• The additional amount of up to $75,000 requested from MCDC would serve as a contingency to allow authorization to proceed with the contract and begin construction of the project.
FINANCIAL SUMMARY:
• Total amount of the grant awarded for construction of an All Abilities Playground in 2016 (MCDC #16-06) was $200,000.
• McKinney Rotary Foundation has raised $430,295 of the total required to date.
• An additional grant of up to $75,000, if approved by MCDC, would provide a contingency amount, to be used if needed, to guarantee the $503,200 required for construction of the All Abilities Playground.
• MCDC’s allocation for discretionary project grants for the current fiscal year is $1,259.745.
• The balance remaining in the discretionary project grant allocation is $1,234,745 for the current year.
• The request is eligible for MCDC Board consideration under Sections 501 to 505 of the Texas Local Government Code.