Title
Conduct a Public Hearing and Consider/Discuss/Act on a Project Grant Application (#23-13) Submitted by The Cotton Mill in the Amount of One Hundred Thirty-Five Thousand Five Hundred Eighty and NO/100 Dollars ($135,580.00) for New Neon Signage on the Smokestack of The Cotton Mill on the Property Located at 610 Elm Street, McKinney, Texas. Amount Represents 100% of the Project Total Cost.
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: July 27, 2023
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• McKinney Community Development Corporation will conduct a public hearing on a project grant request for $135,580 for added signage at The Cotton Mill.
• The scope of work includes:
o Creating and installing neon lighted signage on the smokestack of The Cotton Mill;
BACKGROUND INFORMATION:
• The Cotton Mill is a unique, historic facility offering loft office space, a gorgeous event hall and the perfect backdrop for photography shoots.
• The industrial equipment and unique features that once made the place the largest denim manufacturer in the world remain today, making it a one-of-a-kind destination for weddings, parties, and corporate events.
• The addition of the neon sign will mark a gateway into the historic Hwy. 5 corridor and east side of McKinney and promote the city to residents and visitors to the area.
FINANCIAL SUMMARY:
• Funds allocated for MCDC discretionary Project Grants for FY23 total $2,177,223.00, and $74,885.50 in discretionary funds remain.
• Additional funds are available via budget transfer.
• The request is eligible for MCDC consideration under Section 505.152 of the Texas Local Government Code.
SUPPORTING MATERIALS:
• Application Packet
• Presentation