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McKinney TIRZ No. 2 board approves $8 million for east-side airport infrastructure
Summary
The Tax Increment Reinvestment Zone No. 2 board approved an $8 million transfer from the zone fund balance to enable utility and landside infrastructure for the McKinney National Airport east-side development, voting 7–1 after a public hearing and presentation by city staff.
The Tax Increment Reinvestment Zone No. 2 (TIRZ No. 2) board voted 7–1 to approve an $8,000,000 transfer from the zone's fund balance to support enabling infrastructure on the east side of McKinney National Airport.
Very Shelton, assistant city manager for the City of McKinney, presented the proposal during a public hearing, telling the board the request comes from the TIRZ fund balance and that TIRZ No. 2 is expected to hold about $12,000,000 at the end of the fiscal year, with roughly $3,000,000 accruing annually. "The request from the TIRZ board tonight is for $8,000,000 that would come from the fund balance," Shelton said.
Shelton told the board the funding would pay for what the city described as "enabling infrastructure" on the airport's east side: water and sanitary sewer lines, fiber, underground franchise…
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