Title
Consider/Discuss/Act on Retail Development Infrastructure Grant Application Submitted by Cocktail Creamery (RI 23-06) in the Amount of Up to Five Thousand Eight Hundred Twelve and 50/100 Dollars ($5,812.50) for the Purchase and Installation of a Grease Trap Required for Full Operations at Their New Location at 205 E. Virginia, McKinney. Total Requested is 75% of Total Project Cost.
Summary
COUNCIL GOAL: 1: Direction for Strategic and Economic Growth
1C: 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 and ordinance changes in Historic Downtown McKinney that balance preservation of historic character and current market needs.
MEETING DATE: August 24, 2023
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation will conduct a public hearing on a retail development infrastructure grant application submitted by Cocktail Creamery.
• Project includes the addition of a grease trap at their new location including all labor, equipment and supplies.
• This improvement is necessary for the safe management of appliances and other electrical needs of the business.
BACKGROUND INFORMATION:
• Cocktail Creamery was formed in 2019 to offer premium artisanal homemade ice cream and sorbets focused on adult flavors by creating a fun and comfortable family atmosphere.
FINANCIAL SUMMARY:
• Funds allocated for FY23 Retail Development Infrastructure Grants is $200,000, and $72,756.25 remain unallocated.
• This grant requires a 25% match, and the maximum grant funding limited to $50,000 per grant.
• The request is eligible for MCDC consideration under Section 501.103 of the Texas Local Government Code.
SUPPORTING MATERIALS:
• Application Packet
• Presentation