Title
Consider/Discuss/Act on a Resolution Approving a Chapter 380 Economic Development Agreement and Project Plan Implementation Agreement with 209 Louisiana, LLC for the 209 E Louisiana Critical Maintenance Project Located at 209 East Louisiana 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 2, 2025
DEPARTMENT: Development Services - Planning Department
CONTACT: Cassie Bumgarner - Planning Manager
RECOMMENDED BOARD ACTION:
* Staff recommends the approval of the Chapter 380 Economic Development Agreement and Project Plan Implementation Agreement.
ITEM SUMMARY:
* The applicant requests an economic development grant from Reinvestment Zone Number One in support of a critical maintenance project at 209 East Louisiana Street. 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:
* Critical Maintenance
o Thermoplastic Polyolefin (TPO) Roof Replacement
* As proposed, the applicant is requesting $23,738.15 in TIRZ funding to offset the cost of the maintenance project.
* Per the TIRZ Administration Policy, the allocation and/or rewarding of TIRZ 1 funds for critical maintenance shall be limited to the lesser of the grant/reimbursement of $50,000 per qualifying project and should be considered on a 50/50 match basis. As the total project cost is estimated at $47,476.29, the applicant is requesting funding to cover 50% of that cost, $23,738.15.
BACKGROUND INFORMATION:
* Under Chapter 311 of the Texas Tax Code and Chapter 380 of the Texas Local Government Code, the TIRZ Board has the authority to make loans or grants of TIRZ funds for the purpose of promoting local economic development and stimulating businesses and commercial activity w...
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