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MCDC hears strong sales tax month; approves minutes and adjourns
Summary
Assistant Finance Director Chance Miller reported January revenue close to $2.5 million and strong sales tax collections; the board approved consent minutes for February and a March subcommittee meeting, heard multiple liaison reports and adjourned.
Chance Miller, Assistant Finance Director, presented January financials to the McKinney Community Development Corporation: the CDC collected close to $2,500,000 in revenue for the month (mostly sales tax), and total expenditures were close to $400,000 (approximately $80,000 operating, $230,000 project expenses and $100,000 non‑departmental). He said sales tax for the month was 5.3% above the prior year and 4.7% year‑to‑date.
During the consent agenda the board approved minutes from the February MCDC meeting after a motion by speaker 6 (mover) and a second by Margaret Lee. The board also approved minutes of a joint meeting of the potential project subcommittee from March 3 after a motion and second; the chair declared the motion passed. Toward the end of the agenda, a motion to adjourn was made, seconded and the meeting ended.
Liaison reports followed the financial presentation and covered city debt issuance parameters, downtown demolition and redevelopment plans, Visit McKinney event impacts (a weekend marathon and the International Girls Cup), economic development announcements (business retention and downtown projects) and parks and recreation project timelines.
