Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2024-2025 Annual Budget and Amending the 2025-2029 Capital Improvements Program to Provide Funds for the McKinney National Airport Eastside Infrastructure Project (AI2250) and Appropriating Bond Funding in the McKinney Economic Development Corporation Fund for the Purchase of Land
Summary
COUNCIL GOAL: Maximize the Development Potential 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.)
MEETING DATE: May 6, 2025
DEPARTMENT: City Manager's Office
Airport
CONTACT: Barry Shelton, Assistant City Manager
Ken Carley, Airport Director
RECOMMENDED CITY COUNCIL ACTION:
* Approve ordinance
ITEM SUMMARY:
* This Ordinance amends the Fiscal Year 2024-2025 Annual Budget, and the 2025-2029 Capital Improvement Program to provide funding for the McKinney National Airport Eastside Infrastructure Project (AI2250) in the amount of $61,600,000.
* This Ordinance amends the Fiscal Year 2024-2025 Annual Budget in the amount $41,526,261 of bond funding in the MEDC Fund for the purchase of land.
BACKGROUND INFORMATION:
* The McKinney Community Development Corporation (MCDC) approved the issuance of $30 million in sales tax revenue bonds for the Eastside Infrastructure Project (AI2250) on March 18, 2025.
* The McKinney Economic Development Corporation (MEDC) approved the issuance of $22.4 million in sales tax revenue bonds for the Eastside Infrastructure Project (AI2250) on March 18, 2025.
FINANCIAL SUMMARY:
* This ordinance amends the Fiscal Year 2024-2025 Annual Budget and amends the 2025-2029 Capital Improvements Program to Provide Funds for the McKinney National Airport Eastside Infrastructure Project (AI2250).
* The following amounts, totaling $61,600,000, will be transferred to the McKinney National Airport Eastside Infrastructure p...
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