Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2023-2024 Annual Budget to Provide Funds for the Trinity Falls MUD#1 and MUD#2.
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5B: Develop Parks strategy to preserve green space for future park land)
(5C: Continue to market and highlight McKinney as a unique destination for residents and visitors alike)
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: May 21, 2024
DEPARTMENT: Parks and Recreation
CONTACT: Amy Kinkade, Director of Parks and Recreation
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the ordinance.
ITEM SUMMARY:
• This is a budget amendment for the Trinity Falls MUD to receive maintenance funds intended for the maintenance and capital expenses associated with the Trinity Falls neighborhood parks as well as BB Owens Park.
• Reimbursement amounts are as follows:
o 2022 - $133,582
o 2023 - $184,176
o 2024 - $270,900
BACKGROUND INFORMATION:
• In 2022 an Interlocal Agreement (ILA) between the City and Trinity Falls MUD 1 and MUD 2 was entered into which transferred over the maintenance responsibility of the BB Owens Park and City owned neighborhood parks to the MUDs.
• The original agreement sets forth a required Park Fee which is assessed on all properties within Trinity Falls. This fee was to be used for the City’s required maintenance, however this ILA allows for a portion of these fees collected to be disbursed to the MUDs on a reimbursement basis for their use in undertaking maintenance.
FINANCIAL SUMMARY:
• This Ordinance amends the Fiscal Year 2023-2024 Annual Budget by appropriating $588,658 in the General Fund for the reimbursement to Trinity Falls for Parks Maintenance.
BOARD OR COMMISSION RECOMMENDATION: N/A