The McKinney Economic Development Corporation board on Feb. 18, 2025 approved its December 2024 financial statements, adopted updated supplemental policies and procedures and took action on four project items after returning from executive session.

The board voted to approve the December financials, which staff said included roughly $2.1 million in reported revenues for December (the majority from sales tax) and year-to-date revenues of about $6.5 million. Chance Miller, accounting manager, reported monthly expenses of approximately $918,000 and year-to-date expenditures slightly over $3.0 million. Miller told the board that sales tax for the month of December (applied to October sales) rose 8.6%, producing a 4.7% increase year to date for the first quarter.

Board members moved to adopt the supplemental policies and procedures update, a set of one‑page topic modules designed to be amended individually on an annual cycle. The governance committee previously reviewed the materials.

After a closed executive session held under Texas Government Code Section 551.071 (consultation with attorney), Section 551.072 (deliberation regarding real property) and Section 551.087 (economic development), the board returned to open session and approved four agenda items discussed in executive session. Those items were announced in open session as "Passing Clouds," "Project Lasso," "Tradition Homes" and "WSD." For each, the board made motions and approved them by voice vote; the meeting record shows motions and seconds followed by an "aye" voice vote and the chair's announcement that the motion passed.

A motion to adopt the December financials was made by a board member identified in the record as Julie and seconded by Thad; the motion passed on a voice vote. The policies and procedures update likewise passed on a motion and voice vote.

The board convened into executive session at about 8:27 a.m. and returned at about 10:36 a.m.; the minutes show the board taking votes immediately after returning to open session. Where motions or seconds were not named in the open record, the public minutes record the actions as approved per the board's discussion in executive session.

No additional details about the four approved projects (scope, dollar amounts, or related contracts) were disclosed in the public portion of the meeting minutes.

Board members also noted a joint meeting with the City Council scheduled later that day at 4:00 p.m.

Votes at a glance:
- December 2024 financials: motion by Julie; second by Thad; voice vote; motion passes.
- Supplemental policies and procedures update: motion and second recorded; voice vote; motion passes.
- "Passing Clouds": motion made following executive session; approved by voice vote.
- "Project Lasso": motion by Julie; second by Mark; approved by voice vote.
- "Tradition Homes": motion made and seconded following executive session; approved by voice vote.
- "WSD": motion made and seconded following executive session; approved by voice vote.

The meeting record does not include roll-call tallies for the post‑executive-session items; the board used voice votes and the chair announced the outcomes.