Title
Consider/Discuss/Act on a Request from Habitat for Humanity of Collin County to Extend the Term of the Loan Agreement Executed with McKinney Community Development Corporation for Project 4B25-05 to January 31, 2027.
Summary
COUNCIL GOAL: 1: Direction for strategic and economic growth
1:1 Provide a strong economy by creating a Global Housing Strategy and facilitating a balance between industrial, commercial, residential, and open space.
5: Enhance Quality of Life in McKinney
5.3: Develop sustainable quality of life improvements within the City of McKinney
MEETING DATE: April 23, 2026
DEPARTMENT: McKinney Community Development Corporation
CONTACT: Cindy Schneible, President
ITEM SUMMARY:
• On February 27, 2025, MCDC approved Project 4B25-05 to Habitat for Humanity of Collin County in amount of $411,455 with a term ending April 30, 2026. Remaining balance on the grant is $184,505.15.
• MCDC will consider a request from Habitat for Humanity of Collin County to extend the term of Project 4B25-05 to January 31, 2027, for Cotton Groves townhomes.
• Habitat Collin County has recently hired a new CEO, and they are proceeding with leadership transition and strategic planning to ensure future success.
• Significant progress has been made on this project, and this extension will allow more time for the project to be completed with the level of quality and stewardship that aligns with the intent of the grant and organizational standards.
BACKGROUND INFORMATION:
• Habitat for Humanity of Collin County has been building homes for working low-income families since its incorporation in 1992.
• HHCC serves a 24-city area in Collin County.
• HFHCC utilizes a two-pronged initiative for low-income families: construction of new homes; and exterior home repairs.
SUPPORTING DOCUMENTATION:
• Letter of Request