Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Lawsuit topic
No spam. Unsubscribe anytime.
Councilmember says lawsuit challenging CDC refinancing won’t stop airport work but will raise costs
Summary
City Councilmember Patrick Cloutier briefed the Visit McKinney board on a lawsuit filed by four individuals and the North Texas Conservation Association challenging CDC refinancing via a TIFIA loan; he said construction continues but legal costs will increase and the city intends to defend the CDC for taxpayers.
City Councilmember Patrick Cloutier told the Visit McKinney board that four individuals and the North Texas Conservation Association have filed suit challenging the Community Development Corporation’s refinancing tied to airport bonds. "You may have read about a lawsuit that the city of McKinney is involved in... The lawsuit was brought... Is it slowing down the airport construction? No. Is it making it more expensive? Yes," Cloutier said.
Cloutier explained the TIFIA loan is a federal credit program aimed at larger infrastructure projects and that the city pursued short-term financing to bridge to the anticipated TIFIA closing. He said the city will vigorously defend the CDC and its actions "for the benefit of the taxpayers," and denied claims that the city was suing residents. Cloutier offered to answer questions and pointed listeners to talking points posted on the city website.
The board did not debate substantive legal strategy in this meeting; Cloutier framed the issue as a financial and political challenge the city will address in court, and he encouraged members to refer to posted materials for further context.
