Title
Consider/Discuss/Act on a Resolution Authorizing the Execution of a Chapter 380 Economic Development Agreement and Project Plan Implementation Agreement with TUPPS Brewery for a Build Your Own Business Project (Innovation/Pilot Project) Located at 402 East Louisiana 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: September 30, 2024
DEPARTMENT: Development Services - Planning Department
CONTACT: Jennifer Arnold, AICP, Director of Planning
Cameron Christie, Planner I
RECOMMENDED BOARD ACTION:
* Staff recommends Board consideration of the request with the following conditions:
o The Board approve a Resolution amending the Project Plan for Reinvestment Zone Number One to add "Innovation/Pilot Project" as an eligible Project within the district;
o The City Council approve an Ordinance approving the Project Plan for Reinvestment Zone Number One that adds "Innovation/Pilot Project" as an eligible Project within the district; and
o The applicant execute a Chapter 380 Economic Development Agreement and Project Plan Implementation Agreement for the proposed project.
ITEM SUMMARY:
* The applicant requests $120,000 in grant funding from Reinvestment Zone Number One to launch a Build Your Own Business Program (Innovation/Pilot Project) at 402 East Louisiana Street (TUPPS Brewery).
* As proposed, TUPPS Brewery desires to partner with small businesses for the finish out of up to six existing grain bins located throughout the TUPPS Brewery site. The goal of the Innovation/Pilot Project is to convert these underutilized spaces into unique, small businesses that support homegrown retailers and the larger TUPPS Brewery destination overall.
* The estimated cost to finish out each bin is $20,000, which includes upgrades such as insulation, electrical, he...
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