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TIRZ No. 1 board approves finance-plan amendment to match expanded boundary
Summary
The board approved an amendment to the TIRZ No. 1 finance plan to reflect the City Council's expanded boundary; staff said the amendment updates revenue assumptions only to the extent the map changes the zone area.
The Tax Increment Reinvestment Zone No. 1 board in McKinney approved an amendment to its finance plan on July 21, 2026 to reflect the boundary expansion previously adopted by the City Council.
Lucas Raley, Planning Director for the City of McKinney, described the finance plan's role, saying: "And basically, the finance plan is what outlines the anticipated revenues and impacts of the TERS area." He explained that the finance plan was created at the zone's inception, informed by a financial consultant, and that the current item is a map update to align the plan with the newly expanded boundary.
Board members discussed the item briefly; a motion by Councilman Beller, seconded by Councilwoman Feltes, carried by a recorded vote of five in favor and two opposed. Raley told the board there have been no substantive changes to the finance plan's assumptions beyond updating the geographic area covered by the plan.
The amendment aligns the official finance document with the enlarged zone area; the board did not appropriate funds at this meeting. Staff indicated additional administrative guidance and potential prioritization of funds will be discussed at a future meeting.
