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Developer asks MCDC for $13.6 million to upgrade utilities and build public realm in Cotton Mill district
Summary
Cotton Mill Partners requested $13,620,896 from MCDC for infrastructure and utility upgrades across the Cotton Mill District; developer says upgrades enable up to 50,000 sq ft of retail, parks and public spaces and projected long‑term economic benefits, while board members pressed for clear eligibility and reimbursable scope.
Cotton Mill Partners presented a large infrastructure funding request to the McKinney CDC on April 23, asking for $13,620,896 to support upgrades for the Cotton Mill District at 610 Elm Street.
Chandler Casey described a multi‑phase plan that would address decades‑old infrastructure constraints—water, sewer, roads and other utilities—and enable redevelopment across roughly 30 acres. Casey said the first phases prioritize public utilities and a public realm of about 1.5 acres (parks, paseos and event lawns) to create a walkable destination and to avoid repeated utility digs by building infrastructure up front.
The applicant presented a capital stack showing roughly $5.5 million in developer and city CIP contributions and requested the remainder from MCDC; he described the full project at over $19 million and projected $826 million in broader economic impact and $192 million in tax revenue over 20 years, with up to 2,800 construction‑related jobs. Board members repeatedly asked that staff and the city attorney clarify which portions of the infrastructure costs are eligible for MCDC reimbursement and how the city’s TIRZ/TERS/EDC funding sources might layer with an MCDC award.
Casey emphasized the community benefit of sizing utilities for future growth and delivering public park space but acknowledged that exact timelines and deliverables would be finalized in a development agreement. The public hearing closed with no public speakers; the board asked for more eligibility analysis before deciding on funding.
