CITY OF McKINNEY, TEXAS - File #: 23-0544

• File #: 23-0544
• Name: Project Updates
• Type: Reports
• Status: Agenda Ready
• In control: McKinney Housing Finance Corporation
• On agenda: 7/14/2023
• Title: Projects Update

Title

Projects Update

Summary

ITEM SUMMARY: 

•                     Palladium McKinney, 172 units

•                     56 - one bedroom, 84 - two bedrooms, 32 - three bedrooms

•                     100% of the units max 60% AMI

•                     Palladium closed on 6/29/23

•                     Developer fee received $113,134

•                     1/2 General Contractor fee received $62,500

•                     The Remnant at Greenwood I & II, 96 units

•                     Will not meet the 180 days closing deadline of 7/17/23

•                     Bond reservation will be withdrawn

•                     New bond application will have to be submitted

•                     More information to come