Title
Consider/Discuss/Act on a Resolution Designating and Approving Certain Capital Improvement Program Projects Eligible for Funding under the Transportation Infrastructure Initiative and Economic Development Program by McKinney Economic Development Corporation and McKinney Community Development Corporation Sales Tax Revenues for FY 2022-2023
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(2B: Balance available resources to accommodate the growth and maintenance of the City)
MEETING DATE: December 6, 2022
DEPARTMENT: Development Services / Engineering
CONTACT: Gary Graham, PE, Director of Engineering
Blake Sills, PE, Interim CIP Manager
RECOMMENDED CITY COUNCIL ACTION: Approval of Resolution.
ITEM SUMMARY:
• This item adopts a list of projects eligible for funding by sales tax revenue from the McKinney Economic Development Corporation (MEDC) and McKinney Community Development Corporation (MCDC) pursuant to Section 11 of Resolution No. 2022-06-088 (R), the Transportation Infrastructure Initiative and Economic Development Program, adopted June 21, 2022.
• The list of eligible projects is shown in Exhibit A.
BACKGROUND INFORMATION:
• The Resolution establishing this Program was adopted by the City Council at the June 21, 2022, City Council Meeting.
• The MEDC and MCDC Boards amended their respective bylaws accordingly and approved the Program as a “Project” at subsequent Board meetings.
FINANCIAL SUMMARY:
• As the previous year's sales Tax Revenues are finalized, the funding will be earmarked for the Capital Improvements Program (CIP) on projects identified by this Resolution.
BOARD OR COMMISSION RECOMMENDATION: N/A