[{"_1":2,"_86":-5,"_87":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6619758,"mediaKeyId","2828899-744751763af6bc7828526b27eb0adb43","parentId",2828899,"title","TIRZ No. 2 board approves May 7, 2024 meeting minutes","audioSeconds",43,"startMs",42000,"endMs",85000,"viewUrl","/Search/View?dp=1&key=2828899-744751763af6bc7828526b27eb0adb43&start=42&end=85","thumbnailUrl","https://assets.pipeline.soar.com/2828899-744751763af6bc7828526b27eb0adb43/thumbnail_42000.jpg","articleUrl","/articles/6619758/McKinney/Collin-County/Texas/TIRZ-No-2-board-approves-May-7-2024-meeting-minutes","mediaUrl","https://secure.pipeline.soar.com/6619758-60b04022d6b30c890ecd1af193ae23a3/orig.mp4?Expires=1771195376&Signature=HF4bWtGgaBqXasu2~XEJ6a7vRi5bJlLu~1ZMpopbfe6~g8ypJh4KbmaR280hZyX1zJUaM5WC34ZCwfUerGrFwR1cTlVhgoHRQr2f5AM3qaZQwgaaO1ciO66AFaNkfZG78Ly8HcPuAnABCspmoA6hSHH~7otjjD7MXxVXObavktXz6z~X8~5Ykri-DT2s8Z8XmzTNNEUHZ63wmEOkxkFWX7Y60u772~oT91wptpm~bNMo8JIxKyeOSqo5SkQ~arbUqaiH42Gr3dXUZhRQAMgm~uDWmNrU2O~zaM6nGh9TyGmo48Ky2RpXQ4~6IP6EukWByTtJesOKZBp-9A8jSVSdVw__&Key-Pair-Id=KUT5TJCACFTXG","author","McKinney","date","2025-03-31T00:00:00Z","article","A motion to approve the minutes of the Tax Increment Reinvestment Zone No. 2 Board meeting of May 7, 2024 was made by George Fuller and seconded by Member McCall. The board approved the minutes by voice vote with no dissent.

The approval was recorded at the start of the meeting as part of routine board business. No amendments to the minutes were proposed during the motion.","mediaType","Video","parentTitle","McKinney - Reinvestment Zone Number Two - Mar 31, 2025","oneSentenceSummary","The Tax Increment Reinvestment Zone No. 2 Board approved the minutes of its May 7, 2024 meeting in a voice vote after a motion by George Fuller and a second from Member McCall.","taxTitle","McKinney, Collin County, Texas","taxId",2778,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":46,"_45":79,"_47":80,"_49":81,"_51":82,"_53":83,"_55":56,"_57":58,"_59":84,"_61":62,"_63":64,"_65":85,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6619762,"McKinney TIRZ No. 2 posts sharper property and sales-tax growth; annual report presented to board",425,510000,"/Search/View?dp=1&key=2828899-744751763af6bc7828526b27eb0adb43&start=85&end=510","https://assets.pipeline.soar.com/2828899-744751763af6bc7828526b27eb0adb43/thumbnail_85000.jpg","/articles/6619762/McKinney/Collin-County/Texas/McKinney-TIRZ-No-2-posts-sharper-property-and-sales-tax-growth-annual-report-presented-to-board","https://secure.pipeline.soar.com/6619762-4e4c363a88cec4b7f3160cc5b59bd504/orig.mp4?Expires=1771195376&Signature=FLOtcuonGias2NMK22sldMnYx-TDVDKFi4bhopjulvAKQLR7RV5okqKvLN3MZbJ0Frw~KLt0D4BvxmKEIR~BytEtS5byA9ytX6R9lo-fPMff6055LZeMSZhDYtGtGoABtNnMAQWNCOzIOKeXbHkOwNgYh7N9Bsvp1Erj13APjljxO9CfT69NOty3wc950O5i6LhmXCqQ6J9c8KGabGD7wksor~4JzKnE7UkJ-9HRove-NwVYAcO8k21GFezXKjHUKVlNntQNg-SZ95pbT8tb9HSAGWVBptpsUxfJqJeiYVCNX3r~Iy6IPmnEjiq~Q0WKAFIFGUduq7qMxNu1UqDfIw__&Key-Pair-Id=KUT5TJCACFTXG","Chancellor Miller, assistant finance director for the City of McKinney, presented the fiscal year 2023–24 annual report for Tax Increment Reinvestment Zone No. 2 (TIRZ No. 2), telling the board the report is required by the state comptroller and is provided for information only.

The report shows the zone collected about $3.1 million in combined property and sales taxes in fiscal 2024 and $271,000 in interest income. Expenditures included roughly $35,000 in general and administrative costs and about $2.8 million spent on Taxiway A‑4. Miller told the board the zone has no outstanding debt.

Miller said property values within TIRZ No. 2 rose markedly since 2010. He reported total value in the zone was approximately $408 million in tax year 2023, producing a captured taxable value of about $290 million, up from $218 million the prior year. \"That is an increase of close to $80,000,000 in one fiscal year,\" Miller said.

The city’s share of tax increment revenues increased to about $1.24 million from roughly $1.0 million the prior year, Miller said; Collin County’s share rose to about $217,000 from about $166,000. On sales tax, the presentation noted captured sales-tax value increased from about $493,000 in 2010 to about $2.1 million in fiscal 2024, sending approximately $1.6 million into the TIRZ fund. Miller said sales-tax receipts within the zone rose about 13.6% year over year; the citywide sales-tax increase was about 7.2%.

Miller reported the fund balance for TIRZ No. 2 is about $8.2 million, of which roughly $808,000 is restricted for transportation purposes. \"This is required by the state comptroller, once a year, and then we also report it to you at that time,\" Miller said before walking the board through the numbers.

Board members asked for clarifications about the TIRZ boundary and the airport relationship. Miller described TIRZ No. 2 as east of TIRZ No. 1 and extending eastward up to the U.S. 380 corridor. \"The largest asset owned by the city in TIRZ No. 2 is the airport,\" Miller said, and confirmed the TIRZ project plan approved in 2010 included funding airport development.

A staff member, Berry Shelton, described the Taxiway A‑4 project and the private development it enabled at the airport. Shelton said the perpendicular taxiway opened three tracts for development: an existing hangar by Encore Aviation, an upcoming Department of Public Safety (DPS) hangar, and a ground-lease tenant planning two new aircraft and a hangar on the far west side of A‑4. \"We anticipate probably about $200,000,000 in new property value at the airport based on that one project,\" Shelton said. Shelton added the DPS hangar is expected to hold one helicopter and two fixed-wing aircraft; the private tenant is planning two aircraft.

Board members and staff confirmed that privately owned hangars and aircraft are subject to property and business property taxes. \"Our tenants ... will pay taxes on their privately owned hangars and they will pay taxes on the aircraft as well as business property tax,\" Shelton said.

The presentation was informational; the board did not vote on the report. After a brief question-and-answer period, the board moved to the next agenda item and later adjourned.

The report references the TIRZ project plan and the ordinance establishing the zone in 2010 and complies with state comptroller reporting requirements for tax increment financing.","City staff presented the fiscal year 2023–24 Tax Increment Reinvestment Zone No. 2 (TIRZ No. 2) annual report showing strong increases in captured value, larger tax receipts and a fund balance of roughly $8.2 million; the presentation was informational only and no board action was required.","actionData","errors"]

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TIRZ No. 2 board approves May 7, 2024 meeting minutes

McKinney TIRZ No. 2 posts sharper property and sales-tax growth; annual report presented to board