[{"_1":2,"_98":-5,"_99":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,74,86],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":44,"_46":47,"_48":49,"_50":51,"_52":53,"_54":55,"_56":57,"_58":59,"_60":61,"_62":63,"_64":65,"_66":67,"_68":69,"_70":67,"_71":72,"_73":72},"mediaId",6678152,"mediaKeyId","2134947-4601fe2777aa9dd09cf04485c1bea11a","parentId",2134947,"title","EDC board accepts fiscal‑year 2024 financials, approves awards and signs off on three executive‑session items","audioSeconds",0,"startMs",3424000,"endMs","viewUrl","/Search/View?dp=1&key=2134947-4601fe2777aa9dd09cf04485c1bea11a&start=3424&end=3424","thumbnailUrl","https://assets.pipeline.soar.com/2134947-4601fe2777aa9dd09cf04485c1bea11a/thumbnail_3424000.jpg","articleUrl","/articles/6678152/McKinney/Collin-County/Texas/EDC-board-accepts-fiscalyear-2024-financials-approves-awards-and-signs-off-on-three-executivesession-items","mediaUrl","https://secure.pipeline.soar.com/6678152-2cfa8992775d4ed7124bfb8fdf341e4a/orig.mp4?Expires=1771183444&Signature=W~uIuvDBfnqHop6tz1FqjHJDQkjGatvD3-41OMnczEYuLf7vgq8CWRVePAbYqjfL7LVcnygRpusxGk3F59n41cEfBgeKHdkeQ85z5X6fhszsJ5Fku181tgl1XU7U-ykk82cOspImV96A2mv75Oq64po59Is2a2q2i~t3DsiBZ88q1a9dEufA8ZoAVT-fG8BEvaTKY24ylajKJlvH5d-Uch0c-IrzZRHyQ27ohNoJtijTEo2FZwHlB6GGf8ADC1Zxv1I1zPbBzWvqIW8mO2C~oSaTYQcl80UFD2C0gi0ybs1tJ0~QpaHMJygqfOk8fCTiU4Vxd--X0egIRoCKPqsrBQ__&Key-Pair-Id=KUT5TJCACFTXG","author","McKinney","date","2025-01-21T00:00:00Z","article","The McKinney Economic Development Corporation board voted to accept the audited, final September 2024 financial statements and year‑end adjustments at the Jan. 21 meeting.

Chance Miller, accounting manager, reviewed year‑end figures and noted cash and investments of about $37 million, fixed assets at approximately $66.6 million (cost basis), total assets of roughly $112.5 million, and total liabilities near $19.7 million. Miller reported fiscal‑year 2024 sales tax receipts of about $23.8 million (roughly $400,000 above the budget adjustment) and total MEDC revenues of about $26.7 million. The board moved to accept the financials and the motion passed.

The board also conducted confidential voting on Chamber of Commerce award nominations. To protect the Chamber’s request for advance notification to nominees, the board voted by letter rather than naming companies in public discussion; the record on the public minutes lists winners as \"Company A\" for the BRE Business Retention Encore Wire Award and the New Corporate Business Award, and \"Company B\" for the Workforce Development Award. The board approved the awards as presented.

After a scheduled executive session, the board reconvened in open session and approved three items discussed in executive session: Project Matheson (approved as discussed in executive session), Project Ruth (approved as discussed in executive session), and a compensation action relating to the MEDC president (approved as discussed in executive session). The board recorded motions and votes in open session; the meeting minutes show motions, seconds, and the chair’s call for the ayes.

No further public details on the executive‑session project approvals or the president’s compensation change were presented in open session; staff indicated the approvals were consistent with executive‑session discussions and directed staff to proceed as authorized.

","mediaType","Video","parentTitle","McKinney - McKinney Economic Development Corporation - Jan 21, 2025","oneSentenceSummary","On Jan. 21 the McKinney Economic Development Corporation board accepted final September 2024 financials, recorded winners of chamber awards (kept confidential until notified), and returned from executive session to approve three project and compensation items.","taxTitle","McKinney, Collin County, Texas","taxId",2778,"location","headline","","shortSummary",{"_33":75,"_35":36,"_37":38,"_39":76,"_41":77,"_43":78,"_45":79,"_46":80,"_48":81,"_50":82,"_52":83,"_54":55,"_56":57,"_58":84,"_60":61,"_62":63,"_64":85,"_66":67,"_68":69,"_70":67,"_71":72,"_73":72},6678156,"Developer to ask McKinney CDC for $4 million infrastructure grant for Cannon Beach mixed‑use project",224,2889000,3113000,"/Search/View?dp=1&key=2134947-4601fe2777aa9dd09cf04485c1bea11a&start=2889&end=3113","https://assets.pipeline.soar.com/2134947-4601fe2777aa9dd09cf04485c1bea11a/thumbnail_2889000.jpg","/articles/6678156/McKinney/Collin-County/Texas/Developer-to-ask-McKinney-CDC-for-4-million-infrastructure-grant-for-Cannon-Beach-mixeduse-project","https://secure.pipeline.soar.com/6678156-eccef19c9861d1a086e8fe26fca0b90b/orig.mp4?Expires=1771183444&Signature=AyYQdJyDiMp7TfAloYlMnhDuWgJg5up1bmXc7lXf0YovlUFgEXJAFESvQq95pLZDGoTa2HVOhX4kjMpJK7Ous5jxzK~v6QpzAFNPksQvdkboEyFnOaXeUFqUWlRxlJx9RMivme10HhEpk-EIwSuyKPWvYPHCdntFTksv~tK50iV79OITPEgjZ8~YPtbjfwodckS4s0m8EIYFw-bAWXbged6cIpkfsCLpqU5Ik~Se0HeNV8t9oSDnQ7oUIrHoONuLxqY0D-Z6O~H7k7RuL1A5UdC0fKgEWW78UjoJzJ8qw9END7si39ksUUsxWVfCL9HpfjNG1WMhcx0Hg7bF5VozQQ__&Key-Pair-Id=KUT5TJCACFTXG","MEDC staff gave a progress update on Cannon Beach, a proposed mixed‑use development centered on a water feature and amphitheater that staff said would include a resort hotel, offices, restaurants and public amenities.

The presentation said phase one covers about 34.5 acres and that an optional phase two could add roughly 23.5 acres to the east. Staff described the developer’s letter of intent as executed and said final agreements and design plans are being completed.

MEDC staff said the developer, identified in the meeting as Cole Cannon, will appear before the McKinney Community Development Corporation (MCDC) on Thursday to request a $4,000,000 infrastructure grant. According to staff, the grant would be paid at completion of the CERF lot (the public‑usable portion of the development) and other incentive details and a joint meeting with the MEDC and City Council will be scheduled in February to consider the remainder of the incentive package.

Staff highlighted economic assumptions in the board packet and presentation: a projected private investment of about $200 million, roughly 700 full‑ and part‑time jobs associated with the development, and an annual visitation estimate of about 300,000 people. Staff also noted public interest metrics: the initial public announcement generated about 44,100 impressions in the first 30 days, which staff said was substantially higher than the city's prior Venue announcement.

\"We will have a joint meeting with MEDC and City Council. We're looking for February,\" the presenter said when describing the anticipated timeline for incentive discussion. Staff asked board members to note that the $4,000,000 request would be considered by the CDC in their public meeting Thursday, and no MEDC vote was requested on Jan. 21.

","MEDC staff updated the board on Cannon Beach, a proposed mixed‑use surf‑themed development; the developer will ask the McKinney Community Development Corporation for a $4 million infrastructure grant at the CDC meeting this Thursday.",{"_33":87,"_35":36,"_37":38,"_39":88,"_41":89,"_43":90,"_45":91,"_46":92,"_48":93,"_50":94,"_52":95,"_54":55,"_56":57,"_58":96,"_60":61,"_62":63,"_64":97,"_66":67,"_68":69,"_70":67,"_71":72,"_73":72},6678158,"McKinney EDC asked to fund $22.4 million of $72 million East‑side airport project to enable commercial service",1560,1371000,2931000,"/Search/View?dp=1&key=2134947-4601fe2777aa9dd09cf04485c1bea11a&start=1371&end=2931","https://assets.pipeline.soar.com/2134947-4601fe2777aa9dd09cf04485c1bea11a/thumbnail_1371000.jpg","/articles/6678158/McKinney/Collin-County/Texas/McKinney-EDC-asked-to-fund-224-million-of-72-million-Eastside-airport-project-to-enable-commercial-service","https://secure.pipeline.soar.com/6678158-3366e60266cafb6693d62acdb66e270f/orig.mp4?Expires=1771183444&Signature=ophLqdLxCZUyiKjA7Gu1-ILYhzzbyD1BzByf8QhQW5Sf~9JzFdxVunRNkxqMgb0y4YPPFLInBVKFnreN569JuOChfQc0PIp1NiIA4IZ9ArRobWGWaLNIrMfE3o2LBU6wtJrguLulanG8XFaoOtdIWHxjBQ5FhzHUXlVxJbKKnS8BH8FkjZt~XKzP9y8ZQ4rtF3ZEvhD5OII8kZzZ1QYRNVfATQ6Nfm8~0k94jMDTI2tPXAWtN1W04Djqfpu5YPXgyXVIoP6HGj6GpKGvNpjeS3KzjVqBqJrxOoXAFIiffpyZCj3vlfSy~cEWeCvr8SyMB2HhboayOiIAe3UPX9ml8Q__&Key-Pair-Id=KUT5TJCACFTXG","Ken Carley, airport director for McKinney National Airport, told the McKinney Economic Development Corporation board on Jan. 21 that airport staff are seeking local funding support for a scaled‑down East Side development intended to enable commercial airline service at the airport.

The project, as presented, is a roughly $72 million program of work concentrated on a 190‑acre parcel the city acquired in 2018. It would begin with infrastructure and a compact, 45,000‑square‑foot, ground‑loaded terminal with up to five parking positions (gates), apron and aircraft parking, an entrance loop and vehicle parking, and the first segment of a parallel taxiway to connect aeronautical uses on the east side to the runway/taxiway system.

\"We are asking the MEDC for the $22,400,000 grant,\" Barry Shelton, assistant city manager, said during the presentation. Shelton and Carley said the McKinney Community Development Corporation (CDC) would seek a $30 million TIFIA loan for other eligible airport improvements, and the airport is pursuing FAA and TxDOT grants to fill the remaining estimated gap of roughly $14.3 million.

The MEDC grant request would be limited, under state law, to items the EDC may fund — generally non‑aeronautical, revenue‑generating infrastructure such as parking lots and roadway improvements — and would be issued via sales tax revenue bonds if approved, Shelton said. The city plans interim financing while a federally backed TIFIA loan is processed; Shelton said TIFIA takes roughly 12–18 months to complete.

Carley and Shelton outlined several funding and revenue assumptions used in planning: annual FAA Airport Improvement Program (AIP) entitlements that today are around $150,000 for general‑aviation status but would grow with enplanements (the presentation estimated roughly $1.4 million in year 1 and about $3.0 million by year 3 under projected activity), passenger facility charges (PFCs) estimated at about $500,000 in year 1 and $1.7 million by year 3, and parking revenue that the city’s estimates put at about $2.2 million in year 1 and growing to roughly $6.5 million by year 3. Shelton said those revenues would support operating costs and help reimburse debt service on eligible capital investments.

City staff described the procurement path: the city recently completed interviews with three construction manager at‑risk (CMAR) teams and expects to name a firm this week. The CMAR will produce guaranteed maximum price(s) for the CMAR work package (the red‑shaded items shown in staff slides). Taxiway and some roadway elements will be procured as design‑bid‑build projects. Carley said the city expects to present a preconstruction contract and related materials to City Council after the CMAR selection.

Staff also gave a timeline for next steps: the public comment period on the airport environmental assessment closes Jan. 30; city staff plan a joint meeting of City Council, the MEDC board and the CDC board on March 18 to seek action on the grant requests; and construction documents and CMAR contracting are scheduled to progress through spring with an objective of having the infrastructure operational and enabling commercial service by the fourth quarter of 2026, subject to funding and airline agreements.

Carley noted the airport has already completed a 500‑foot runway extension on the south end and plans to finish a north‑end extension so the runway will be about 8,000 feet when all phases are complete. He said the current terminal design is ground‑loaded and intentionally located and sized to permit future expansion or the construction of a second, larger terminal if demand warrants.

Shelton cautioned the board that the $72 million figure is preliminary and that detailed costs will be refined during preconstruction; he said staff included significant contingencies and expect more precise guaranteed maximum prices to be available in the coming months. City staff emphasized they were presenting the request publicly and were not asking the MEDC board to approve funding at the Jan. 21 meeting.

Carley directed interested members of the public to the airport website, flytki.com, for project updates and public materials.

","Airport officials presented a $72 million, scaled‑down East Side development at McKinney National Airport and asked the McKinney Economic Development Corporation for a $22.4 million grant to fund eligible parking and roadway work; staff seeks joint board/council action in March.","actionData","errors"]

Article not found

EDC board accepts fiscal‑year 2024 financials, approves awards and signs off on three executive‑session items

Developer to ask McKinney CDC for $4 million infrastructure grant for Cannon Beach mixed‑use project

McKinney EDC asked to fund $22.4 million of $72 million East‑side airport project to enable commercial service