Title
Conduct a Public Hearing and Consider/Discuss/Act on Retail Development Infrastructure Grant Application Submitted by T & I Bakery LLC (RI 23-05) in the Amount of Up to Six Thousand and NO/100 Dollars ($6,000.00) for Expanding Electrical Capacity from 200AMP to 400AMP at the Property Located at 109 N. Kentucky, McKinney.
Summary
COUNCIL GOAL: 5: Enhance the Quality of Life in McKinney
5C: Promote reinvestment activities and ordinance changes in Historic Downtown McKinney that balance preservation of historic character and current market needs.
MEETING DATE: February 23, 2023
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation will conduct a public hearing on a retail development infrastructure grant application submitted by T & I Bakery LLC.
• Project includes updating the property’s external electrical box to double its capacity, from 200AMP to 400AMP.
• This improvement is necessary for the safe management of appliances and other electrical needs of the business.
BACKGROUND INFORMATION:
• T & I Bakery is a new venture café that brings a unique product with healthful benefits through infused coffee and baked treats.
• A portion of the company’s will be donated to nonprofits in McKinney.
FINANCIAL SUMMARY:
• Funds allocated for FY23 Retail Development Infrastructure Grants is $200,000.
• This grant requires a 25% match, and the maximum grant funding limited to $50,000 per grant.
• The request is eligible for MCDC consideration under Section 501.103 of the Texas Local Government Code.
SUPPORTING MATERIALS:
• Application Packet
• Presentation