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McKinney adopts FY26 budget; downtown redevelopment plan shifts after developer split and federal funding loss
Summary
City staff told the Visit McKinney board that the City of McKinney’s fiscal 2026 budget takes effect Oct. 1, and that plans for downtown redevelopment and an underground “Lower 5 Plaza” have changed after the city ended talks with a development partner and lost federal funding for the plaza.
The Visit McKinney board heard on Tuesday that the City of McKinney’s fiscal 2026 budget was adopted and will take effect Oct. 1, 2025.
“For those that don't know me, I am Jennifer Arnold. ... Our fiscal year 26 budget was recently adopted and approved. It will go into effect tomorrow,” Jennifer Arnold, assistant city manager for the City of McKinney, told the board.
Arnold said the city has moved away from a single large development partner for a set of downtown properties after negotiations with a firm called M2G did not reach a financial agreement earlier this year. Instead, the city will take a more incremental approach: the Economic Development Corporation (EDC) will pursue an office partner for at least one lot while the city advances infrastructure upgrades to make remaining parcels “ready” for development.
The city also announced a change in a…
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