Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the TIFIA Acceptance topic
No spam. Unsubscribe anytime.
CDC authorizes chairman to accept TIFIA loan for McKinney airport improvements
Summary
The McKinney Community Development Corporation authorized its chair to accept a $30,000,000 TIFIA loan from the U.S. Department of Transportation to finance the passenger terminal and associated airport improvements; the board approved the authorization and delegated closing tasks.
The McKinney Community Development Corporation voted to authorize the chairman or a designee to accept a $30,000,000 Transportation Infrastructure Finance and Innovation Act (TIFIA) loan from the U.S. Department of Transportation's Build America Bureau. The authorization is intended to allow the CDC chair and staff to complete required documents and proceed to closing.
Chair read the item into the record and a board member moved and seconded the authorization; the CDC approved the item in its meeting record. The authorization will enable staff to complete make-whole payoff calculations, satisfy required notices to existing bondholders and work with counsel to finalize the closing.
