Title
Consider, Discuss and Act on the McKinney Main Street Budget for FY 2010-2011
Summary
MEETING DATE: September 21, 2010
DEPARTMENT: McKinney Main Street
CONTACT: Ty Lake, Main Street Director
RECOMMENDED CITY COUNCIL ACTION:
· Request Approval of the McKinney Main Street budget for FY 2010-11.
ITEM SUMMARY:
· The proposed City of McKinney FY 2010-11 Main Street Budget is provided.
· Details include salary and benefits, travel and training, office supplies, communication and promotional.
· Final approval of the City of McKinney FY 2010-11 Main Street Budget will take place in September 2010.
BACKGROUND INFORMATION:
· In January 2004, McKinney was accepted as an Urban Main Street city and has received both state and national recognition since.
· City council approved Resolution 203.07.105 (R) supporting McKinney Main Street’s second application for Urban Main Street status and a recommitment to the program’s requirements including financial support and the hiring of two full-time City of McKinney staff members.
· The Texas Historical Commission (THC) Main Street Office provides training and assistance in design, promotion, economic restructuring and organization.
· The Main Street Staff consists of Ty Lake, Main Street Director (hired in 8/05) and Merry Caroline Canter, Staff Assistant (hired in 7/07).
FINANCIAL SUMMARY:
· During FY 09-10, City Council approved $126,000 in public funds.
· MEDC contributes $25,000 to public funds which was approved for three years. We are currently on a second year, with year three concluding at the end of 2011. At that time Main Street will request continued funding from MEDC in the amount of $25,000.
· In the spirit of pure public/private partnership, the Main Street board projected cash revenues of $350,000 during FY 09-10.
· From October 2009 through July of 2010, McKinney Main Street has raised in excess of $220,000. This amount does not include funds to be raised for this year’s 2-day Oktoberfest ...
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