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CDC approves $1.5 million reimbursement grant for TPC Craig Ranch erosion work, conditioned on PGA event renewal
Summary
The McKinney CDC approved a $1.5 million reimbursement grant for erosion stabilization work at TPC Craig Ranch, but tied payment to verification that the PGA’s Byron Nelson/related event remains contracted at the venue through 2033.
The McKinney Community Development Corporation approved a $1,500,000 project grant for infrastructure and site improvements to stabilize erosion at the Creek of TPC Craig Ranch, but the board attached a specific condition: the award will be paid as a reimbursement only if the PGA (the salesmanship club/PGA event operator) renews its contract to hold the PGA CJ Cup/Byron Nelson at TPC Craig Ranch through Feb. 19, 2033.
During discussion board members debated process and conditions. One board member moved to approve the grant as a reimbursement payable upon completion and acceptance of the work, with the further condition that payment would be made only upon verification of the PGA’s renewal of its contract to hold the PGA CJ Cup/Byron Nelson at TPC Craig Ranch through and including Feb. 19, 2033. That motion was seconded by a board member and after discussion the motion carried (motion passed; vote tally not specified in the meeting record).
The board’s motion specified reimbursement payment (not up-front payment) and tied the funds to a continuing relationship between the venue and the tournament operator; staff confirmed that project payment will occur after work is completed and verified.
Ending: Staff will work to document completion of eligible work and to verify the PGA contract renewal condition before releasing reimbursement funds.
