Title
Consider/Discuss/Act on an Extension to the Term of the Loan Agreement for Project RI24-07, Venezia Sapori, for Exterior Infrastructure and Site Improvements Related to the New Restaurant Site at 1820 Eldorado Parkway in McKinney, to December 31, 2025.
Summary
COUNCIL GOAL: 1: Direction for Strategic and Economic Growth
1C: Continue to develop a retail strategy for key areas of the community to diversify revenue sources and expand entertainment, dining and shopping options and tourism.
MEETING DATE: October 23, 2025
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation will consider extending Project RI24-07 awarded to Venezia Sapori in an amount of up to $40,000 on March 28, 2024.
• The grant termed out on March 28, 2025. Due to ongoing legal issues between the grant recipient and their original contractor, the project has been significantly delayed. Grant recipient is requesting an extension to December 31, 2025.
• Grant recipient has submitted eligible receipts totaling $ $11,324.75 to date.
• A contractor’s affidavit for the completed work still must be provided prior to processing reimbursement requests.
• Project elements include parking lot and sidewalk repairs, replacement of retaining wall and replacement of landscaping damaged during infrastructure improvements.
BACKGROUND INFORMATION:
• Venezia Sapori offers a diverse Italian menu at the restaurant and catering beyond its doors.
• Part of the Venezia mission is to contribute to the community by supporting charity events and fundraisers.
FINANCIAL SUMMARY:
• Original grant award was for up to $40,000, and no funds have been drawn at this time.
• The request is eligible for MCDC consideration under Section 501.103 of the Texas Local Government Code.
SUPPORTING MATERIALS:
• Letter of Request for Extension