McKinney Community Development Corporation

CITY OF McKINNEY, TEXAS Minutes - Final Thursday, May 25, 2017 8:00 AM Council Chambers 222 N. Tennessee Street McKinney, Texas 75069 McKinney Community Development Corporation McKinney Community Development Minutes - Final May 25, 2017 Corporation PURSUANT TO TEXAS GOVERNMENT CODE SECTION 551.002, A QUORUM OF THE CITY COUNCIL MAY BE PRESENT. NO CITY COUNCIL ACTION WILL BE TAKEN. CALL TO ORDER CONSENT ITEMS A motion was made by Myers, seconded by Gamble,that this be Approved and Referred . The motion carried by the following vote. This portion of the agenda consists of non-controversial or housekeeping items required by law. Items may be considered individually by the Board or Commission member making such request prior to a motion and vote on the Consent Items. Minutes of the McKinney Community Development Corporation Meeting of April 27, 2017 Approved and Referred to the City Council Regular Meeting due back on 6/6/2017 Minutes of the Joint Meeting of McKinney Community Development Corporation and the Park, Recreation and Open Space Board Meeting of April 13, 2017 Approved and Referred to the Parks, Recreation, and Open Space Advisory Board due back on 6/8/2017 Minutes of the McKinney Community Development Corporation Promotional and Community Events Committee Meeting of January 18, 2017 Approved and Referred to the City Council Regular Meeting due back on 6/6/2017 Minutes of the McKinney Community Development Corporation Finance Committee Meeting of April 20, 2017 Approved and Referred to the City Council Regular Meeting due back on 6/6/2017 REPORTS April Financial Report Board and Liaison Updates Board Chairman City of McKinney McKinney Chamber CITY OF McKINNEY, TEXAS Page 1 McKinney Community Development Minutes - Final May 25, 2017 Corporation McKinney Economic Development Corporation Parks and Recreation MPAC/Main Street McKinney Convention and Visitors Bureau Update on Apex Centre President’s Report REGULAR AGENDA Consider/Discuss/Act on Project #17-03, Submitted by Collin County Historical Society in the Amount of Seven Thousand, Sixty-two Dollars and 00/100 ($7,062.00) for Museum Display Cases; Amount Requested Represents 70% of Total Estimated Equipment Costs A motion was made by Glew, seconded by Myers,that this Agenda Item be Approved . The motion carried by the following vote. Consider/Discuss/Act on an Amendment to Project #16-06, McKinney Rotary Foundation All Abilities Playground, to Provide Additional Funding in an Amount Not to Exceed Seventy-Five Thousand Dollars ($75,000); Total Construction Cost is Estimated to be Five Hundred, Three Thousand, Two-Hundred Dollars ($503,200); Total Requested from MCDC ($275,000) Represents 55% of the Construction Cost of the All Abilities Playground A motion was made by Doak, seconded by Myers,that this Agenda Item be Approved . The motion carried by the following vote. Consider/Discuss/Act on an Amendment to Project #16-03, McKinney Armed Services Memorial Board Gold Star Memorial, to Provide Additional Funding in an Amount Not to Exceed Twenty Thousand Dollars ($20,000); Total Construction Cost, with Contingency, is Estimated to be One Hundred Sixty-Five Thousand Dollars ($165,000); Total Amount Requested from MCDC Represents 100% of Project Cost A motion was made by Doak, seconded by Gamble,that this Agenda Item be Approved . The motion carried by the following vote. Consider/Discuss/Act on Project #17-04, Submitted by the City of McKinney for an MCDC Loan to Aimbridge Hospitality in the Amount of Five Million Dollars ($5,000,000) and an MCDC Grant to Aimbridge Hospitality in the Amount of Three Million Dollars ($3,000,000) for Partial Funding for the Construction of a Resort Hotel; Estimated Project Construction Cost is $98,500,000; the Amount Requested Represents 8.12% of the Total Estimated Construction Cost (Request to be Tabled to CITY OF McKINNEY, TEXAS Page 2 McKinney Community Development Minutes - Final May 25, 2017 Corporation July Meeting) A motion was made by Gamble, seconded by Glew,that this Agenda Item be Tabled to Another Meeting . The motion carried by the following vote. Consider/Discuss/Act on the Second Amendment to the Lease Agreement Between Lake Forest-Investors Ltd., the McKinney Economic Development Corporation, and the McKinney Community Development Corporation for the Offices located at 5900 Lake Forest Drive, Suite 110 A motion was made by Doak, seconded by Myers,that this Agenda Item be Approved . The motion carried by the following vote. Consider/Discuss/Act on MCDC Strategic Plan Priorities A motion was made by Myers, seconded by Gamble,that this Agenda Item be Tabled to Another Meeting . The motion carried by the following vote. CITIZEN COMMENTS BOARD OR COMMISSIONER COMMENTS Board or Commission Comments relating to items of public interest: Announcements regarding local or regional civic and charitable events, staff recognition, commendation of citizens, upcoming meetings, informational update on projects, awards, acknowledgement of meeting attendees, birthdays, requests for items to be placed on upcoming agendas, and condolences. EXECUTIVE SESSION CITY OF McKINNEY, TEXAS Page 3 McKinney Community Development Minutes - Final May 25, 2017 Corporation In Accordance with the Texas Government Code: Section 551.087. Deliberation Regarding Economic Development Matters -Project #17-01 -Project #17-06 -Project #16-03 -Project #16-06 -Apex Centre -Project 140-Rest -Project A71-Gateway -Project A72-Airport -Project A108-Fitness -Project A146-Frost -Project A159-Cuisine -Project A166-Turf -Project A167-Drama -Project A168-Diversion ACTION ON EXECUTIVE SESSION ADJOURN A motion was made by Glew, seconded by Myers,that this be Approved . The motion carried by the following vote. Posted in accordance with the Texas Government Code, Chapter 551, on the 19th day of May, 2017 at or before 5:00 p.m. ___________________________ Cindy Schneible President Accommodations and modifications for people with disabilities are available upon request. Requests should be made as far in advance as possible, but no less than 48 hours prior to the meeting. Call 972-547-2694 or email contact-adacompliance@mckinneytexas.org with questions or for accommodations. CITY OF McKINNEY, TEXAS Page 4