1. McKinney leaders to pursue partnership with M2G Ventures for downtown redevelopment initiative
McKinney City leaders chose M2G Ventures as the potential partner for the redevelopment of four city-owned downtown properties at a Jan. 2 meeting. Council members approved a resolution outlining a six-month negotiation period with the selected development team to create an acquisition and development agreement, according to city documents. The resolution was approved in a 4-3 vote, with Council members Charlie Philips, Michael Jones and Rick Franklin voting against.
2. McKinney leaders approve annexation, add 127 acres to city
McKinney City Council voted to approve an annexation that will add 127 acres in the northeast sector of the city at a Jan. 16 meeting. The approval included the annexation, as well as zoning for the land tract. The site was zoned for two uses, including agricultural district zoning on the north end of the site and residential district zoning on the southern portion, according to the presentation.
3. McKinney sets new record for total new construction value in 2023
The total construction value of all projects completed in McKinney in 2023 was nearly $1.5 billion, according to a presentation at a Feb. 27 council meeting. The value is the highest in city history and beats the previous record high value, which was set in 2022, Executive Director of Development Services Michael Quint said at the meeting.
4. McKinney leaders to contribute land, over $50M in incentives to Sunset Amphitheater project
Over $50 million in incentives are expected to be given to the developer of the Sunset Amphitheater, Colorado-based Notes Live, as the result of a development agreement approved by McKinney City Council members. The agreement was approved in a 6-1 vote at an April 16 meeting, with council member Justin Beller voting against the item.
5. Downtown McKinney’s Hall library to see construction, new design
The Roy and Helen Hall Memorial Library is expected to undergo construction as part of a “reimagination” of the facility, according to city of McKinney documents. McKinney City Council members unanimously approved a budget amendment and accompanying resolution totaling about $1.2 million for the design and construction of the project as part of the consent agenda at a June 4 meeting.
6. McKinney council members approve $126.4M bond issuance for city projects
Bonds for the city of McKinney that will be used to finance several projects have been sold, according to a report given to McKinney City Council during a June 25 meeting. The city issued approximately $126.4 million in general obligation, and water and sewer revenue bonds as well as certificates of obligation that will be paid back over a 10-year period, according to city documents.
7. McKinney parkland to be sold to allow for US 380 bypass project
McKinney City Council members unanimously authorized the sale of parkland that will be used for the development of the US 380 bypass project at a July 16 meeting. Roughly 2.8 acres of land in north McKinney will be purchased by the Texas Department of Transportation as part of the right-of-way acquisition process for the US 380 bypass project.
8. McKinney leaders adopt $888M city budget, lower tax rate
McKinney City Council members unanimously approved the city’s fiscal year 2024-25 property tax rate and budget at a Sept. 3 meeting. The council approved a tax rate of $0.415513 per $100 valuation, which is an over $0.01 decrease from the FY 2023-24 rate of $0.427513 per $100 valuation.
9. McKinney to see new Honey Creek municipal management district
Honey Creek, a municipal management district in north McKinney, will include over 2.5 square miles of land and as many as 10,500 homes. McKinney City Council members unanimously approved a development agreement for the project as well as related zoning and annexation requests at a Sept. 17 meeting.
10. Plan for commercial passenger terminal at McKinney National Airport moves forward
McKinney leaders are continuing to pursue the construction of a commercial passenger terminal on city-owned land on the east side of McKinney National Airport. McKinney City Council members unanimously approved a rezoning for a 280-acre tract of city-owned land the east side of the airport at a Dec. 3 meeting. City documents in the rezoning request state that the project proposed for the site will include a 45,000-square-foot passenger terminal.
