Title
Consider/Discuss/Act on a Resolution Approving a Chapter 380 Economic Development Agreement and Project Plan Implementation Agreement with Saint James Church CME for an Asbestos Abatement/Demolition Project (Environmental Remediation Project) Located at 500 North McDonald Street
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5C: Promote reinvestment activities and ordinance changes in McKinney's historic downtown that balance preservation of historic character and current market needs)
MEETING DATE: September 30, 2024
DEPARTMENT: Development Services - Planning Department
CONTACT: Jennifer Arnold, AICP, Director of Planning
Cameron Christie, Planner I
RECOMMENDED BOARD ACTION:
* Staff recommends denial of the Chapter 380 Economic Development Agreement and Project Plan Implementation Agreement due to concerns with the lack of assured redevelopment on the site.
ITEM SUMMARY:
* The applicant requests an economic development grant from Reinvestment Zone Number One in support of an asbestos abatement/demolition project at 500 North McDonald Street (Saint James Church). The request is to assist specifically with the following TIRZ 1 eligible expenses under the Vacant/Underutilized Sites/Buildings project category of the Project Plan:
* Environmental Remediation, Interior/Exterior Demolition
o Asbestos Abatement
* In Staff's review of the request, we note that the proposed project is for asbestos abatement associated with the intended demolition of the building. However, there are no firm plans for the redevelopment of the site.
* Given that a stated goal of the TIRZ No. 1 Project Plan is to support redevelopment activities that advance the vision established in the Town Center Study Master Plan, Staff has concerns that the proposed project does not inherently advance the goals of the project plan, since there are no redevelopment plans tied to the request.
* As proposed, the applicant is also requesting $39,500 in TIRZ fun...
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