Title
Conduct a Public Hearing to Consider/Discuss/Act on a Request by Sphinx Development Corporation for the Waiver of Roadway Impact Fees in Accordance with the Neighborhood Empowerment Zone Program for the Multi-Family Development (380 Villas) Located at 1101 North Throckmorton Street
Summary
COUNCIL GOAL: Enhance the quality of Life in McKinney by promoting reinvestment activities and ordinance changes in Historic Downtown McKinney that balance preservation of historic character and current market needs.
MEETING DATE: May 2, 2023
DEPARTMENT: Development Services - Planning Department
CONTACT: Paula Jarrett Nasta, AIA, Planning Manager
Cassandra Bumgarner, Historic Preservation Planner
Jennifer Arnold, AICP, Director of Planning
RECOMMENDED CITY COUNCIL ACTION:
* Staff recommends approval of the roadway impact fee waiver request, in the amount of $619,532.
ITEM SUMMARY:
* The applicant is requesting roadway impact fee waivers for the multi-family development (380 Villas) located at 1101 North Throckmorton Street, pursuant to the criteria and allowances of the city's Neighborhood Empowerment Zone Program.
* Typically, NEZ Program impact fee waivers can be approved by Staff. However, when the roadway impact fees exceed $50,000 or when the project includes multi-family residential construction, the request requires City Council review and approval.
* The development will consist of 260 multi-family units and has an estimated construction value of the $38 million.
* If approved, the roadway impact fee waiver will result in foregone roadway impact fee revenues of $619,532.
CRITERIA FOR ELIGIBILITY:
* Pursuant to Section 98-85 (Neighborhood Empowerment Zone) of the city's Code of Ordinances, projects within the NEZ boundary may be eligible to receive roadway impact fee waivers if the design and construction is found to be generally compatible with the massing, size, scale, and architectural features of the surrounding neighborhood.
* St...
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