Title
Update on McKinney National Airport Eastside Infrastructure Project
Summary
COUNCIL GOAL: Maximize the Development of McKinney National Airport
3A: Implement initiatives and strategies, including public-private partnerships, to attract and expand corporate and commercial aviation including the viability of passenger service.
3B: Identify and implement land use regulations and policies that preserve and expand long-term operational excellence.
MEETING DATE: April 22, 2025
DEPARTMENT: Airport
CONTACT: Kenneth Carley, A.A.E., Airport Director
Mark Holloway, CFO
RECOMMENDED CITY COUNCIL ACTION:
• Receive and discuss presentation.
ITEM SUMMARY:
• This presentation will update the City Council on the issuance of sales tax revenue bonds by the MEDC and the MCDC for the McKinney National Airport eastside infrastructure project.
BACKGROUND INFORMATION:
• The City Council held a joint meeting with the McKinney Economic Development Corporation Board (MEDC) and the McKinney Community Development Corporation Board (MCDC) on March 18, 2025. The following actions were taken at this meeting:
o The City Council and MEDC Board approved the issuance of $22.4 million in sales tax revenue bonds for the eastside infrastructure project.
o The City Council and MCDC Board approved the issuance of $30.0 million in sales tax revenue bonds for the eastside infrastructure project.
• The sales tax revenue bonds for both the MEDC and the MCDC have been issued.
• On May 6th a budget amendment will be presented to the City Council to move the funds listed above into the project. A construction contract with a guaranteed maximum price (GMP) will also be on that agenda for consideration.