Board approves $2.5M language amendment for McKinney Ranch Senior Living grant
Palladium’s executive director asked the MCDC to clarify loan agreement language so grant proceeds may reimburse land acquisition; the board approved the ministerial amendment and extended construction completion to Sept. 30, 2028.
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Kim Parker, executive director with Palladium, asked the board to amend the previously awarded $2.5 million grant for McKinney Ranch Senior Living to allow reimbursement of land acquisition costs and to extend the construction completion date to Sept. 30, 2028. Parker said the project is a 109-unit independent senior living community with 66 units reserved at or below 60% area median income.
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