Title
Consider/Discuss Potential Bylaw Changes to the McKinney Public Facility Corporation (MPFC)
Summary
COUNCIL GOAL: Goal #1.1: Provide a strong economy by implementing a global housing strategy and facilitating a balance between industrial, commercial, residential, and open space.
MEETING DATE: August 5, 2025
DEPARTMENT: Housing and Community Development
CONTACT: Cristel Todd, Affordable Housing Administrator
Margaret Li, Housing and Community Development Director
RECOMMENDED CITY COUNCIL ACTION:
* Receive and File Presentation
ITEM SUMMARY:
* This item is to consider/discuss possible amendments to the MPFC bylaws that would maximize MPFC revenues for affordable housing programs/projects. Specifically, the possible amendments would place net revenue from any public facility for multifamily residential development by the MPFC into the city's Affordable Housing Fund (Fund 14). Funding received from MPFC projects are currently allocated to the city's General Fund.
* Dedicating revenues from MPFC projects to Fund 14 will provide a dedicated funding source to further the Council's strategic goal of supporting and developing more affordable housing units under programs of the city (i.e. Community Land Trust).
BACKGROUND INFORMATION:
* On June 21, 2022, the City Council adopted Resolution No. 2022-06-085 (R) to approve the form and substance of articles of incorporation and bylaws for the MPFC.
* The McKinney Public Facility Corporation (MPFC) is a non-profit corporation established pursuant to the Public Facility Corporation Act, Chapter 303, Texas Local Government Code and can provide affordable housing projects with property and sales/use tax exemptions.
o Acquisition Projects - 30 years of tax exemptions
o Development Projects - 60 years of tax exemptions
* Since the inception of the MPFC, the Texas Local Government Code has been modified to require MPFC projects to meet the following criteria:
o Acquisition, construction, rehabilitation...
Click here for full text