Title
Consider/Discuss/Act on a Resolution Approving a Chapter 380 Economic Development Agreement and Project Plan Implementation Agreement with The Parks Church for the Environmental Remediation and Demolition at the Northeast Corner of Davis and Tennessee 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: May 5, 2026
DEPARTMENT: Development Services - Planning Department
CONTACT: Cassie Bumgarner - Planning Manager
Kyara Robinson - Planner I
RECOMMENDED BOARD ACTION:
* Staff recommends the denial of the applicant's request for TIRZ No. 1 funding in the amount of $453,439.57 because it exceeds the funding guidelines; however, staff recommends the approval of a proposed resolution in the amount of $50,000 for the project.
ITEM SUMMARY:
* The applicant requests an economic development grant from Reinvestment Zone Number One in support of environmental remediation and interior/exterior demolition project at 121, 129, and 131 South Tennessee Street. The request is to specifically assist with the following TIRZ 1 eligible expenses under the Vacant/Underutilized Sites/Buildings project category of the Project Plan:
o Environmental Remediation and Associated Interior/Exterior Demolition
* Per the TIRZ Administration Policy, the allocation and/or awarding of TIRZ 1 funds for environmental remediation and interior/exterior demolition shall be limited to a maximum of $50,000 per qualifying project or the entire reimbursement and/or grant request, whichever is less. A maximum of $200,000 shall be awarded for qualifying activities during each fiscal year.
* The applicant's request does not meet the policy and guidelines requirements.
* The applicant completed the work before submitting the request for funding. The subtotal of the Environmental Remediating an...
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