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TIRZ board approves Chapter 380 funding package to help finance Sunset Amphitheater infrastructure
Summary
Board approved a resolution to allocate TIRZ funds to support the city’s obligations in the Sunset Amphitheater public‑private project, including up to $3 million in impact fee coverage, up to $6.5 million for off‑site roadway/traffic work and pass‑through tax increment revenues over time; the vote was 8‑1.
The City of McKinney Reinvestment Zone Number 1 board on Tuesday approved a resolution to allocate TIRZ/TIRS funding to help support the Sunset Amphitheater public‑private project.
Assistant City Manager Jennifer Arnold told the board the request would enable the TIRZ to cover a portion of the city’s financial obligations in the project master agreement. Arnold summarized the elements staff proposed to allocate: up to $3,000,000 to cover certain city impact fees, up to $6,500,000 for…
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