The program was established in 2009 and provides impact fee waivers for infill projects within the NEZ’s boundaries, according to a city document. Roadway impact fees are levied against new developments to pay for off-site construction or infrastructure work to support development, according to McKinney’s website.
Presidium is planning for the development of 1,140 apartment units that will be constructed in four phases, according to the city document. The first phase will include market-rate units and affordable housing units based on an agreement with the McKinney Housing Authority. The apartments will be located directly south of the McKinney Cotton Mill.
Approval of an impact fee waiver could result in a loss of $2,946,900 in impact fee revenues, according to the city document. If the fee were to be waived, the developer would pay the fees upfront and be reimbursed later after construction is completed.