Title
Consider/Discuss/Act on a Resolution Amending the Project Plan for Tax Increment Reinvestment Zone Number One
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5C: Promote the reinvestment activities and ordinance changes in McKinney's historic downtown that balance preservation of historic character and current market needs)
MEETING DATE: June 2, 2026
DEPARTMENT: Development Services - Planning Department
CONTACT: Cassie Bumgarner - Planning Manager
Lucas Raley - Director of Planning
RECOMMENDED BOARD ACTION:
* Staff recommends approval of the proposed resolution.
ITEM SUMMARY:
* This item is to consider amendments to the Project Plan for Tax Increment Reinvestment Zone No. 1.
* The proposed amendments are intended to clarify eligible projects and elaborate on administration and implementation costs. In summary, the proposed changes cover:
o Administrative cleanup of typos, consistency of capitalization
o Clarity for Vacant/Underutilized Project type
* Elimination of the language "relatively smaller" and "under $5.0 million" as those are not project defining
o Clarity for Land Acquisition eligible expenditure category
* Addition of "not limited to" in the examples of potential land acquisitions
o Clarity of Administrative and Implementation Costs
* Aligning language between these and non-project costs
* Additional example of administrative costs
* Redlines are attached to this staff report. If approved, City Council will consider an ordinance adopting these same amendments.
BACKGROUND INFORMATION:
* The Project Plan of the TIRZ focuses on support for catalytic projects for the continued revitalization of the Town Center; key regional transportation infrastructure for effect access and linkages throughout the Town Center including connections between the Historic Square to the west of Highway 5 and the future Transit-Oriented Development (TOD) to the east of Highway 5, as well as safe auto, pedestrian and bicycle movement...
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