McKinney | January 2024

BY SHELBIE HAMILTON

What they’re saying

The impact

City ocials do not have a predetermined plan for how the funds will be used, so requests are considered as funds accrue and eligible projects arise, Shelton said. A $2.8 million funding request was unanimously approved at a Nov. 7 TIRZ 2 board meeting to construct an additional lane for taxiing aircraft at the airport. The constructed lane will allow planes to access a portion of the property that is expected to see three hangars added, McKinney National Airport Director Ken Carley said. The planned hangars are expected to generate about $530,000 annually to the city in land rents and other services, he said. “We really try to do projects that have a return on investment,” Carley said. Other projects at the airport that have used TIRZ 2 funds include a 190-acre land purchase in 2018 and the creation of planning documents for the east side of the airport in 2022. Funding requests for improvements to four

The lifespan of the zones when they were originally established was 30 years, with the endings set for 2040. At its inception, the zones were expected to collect between $157 million and $179 million over 30 years, according to city documents. In mid-2022, council members unanimously elected to extend the lifespan of both zones by an additional 15 years, allowing for $15.5 million in debt for the construction of McKinney’s new City Hall to be leveraged on TIRZ 1, Shelton said. “The more value you add or retain in the TIRZ district, the better it is for the TIRZ district,” Shelton said. “If you spend $25,000 to build a building that’s a couple million dollars, it’s on the tax rolls, [and a portion of] that money goes back into the TIRZ.”

“We would have less value on the ground and it would stunt the growth of the district if we didn’t have the TIRZ.”

BARRY SHELTON, MCKINNEY ASSISTANT CITY MANAGER

downtown properties totaling about $72,000 were granted from TIRZ 1 collections in 2022. A full list of funding requests granted in 2023 was not yet available as of early January. Common requests for project funding in TIRZ 1 are for the addition of re sprinklers and other critical maintenance on downtown buildings, Shelton said. “Small businesses don’t have an open-ended pocketbook,” Lindblad said. “So when the city is willing to help the small-business person, it’s greatly appreciated.”

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