Aug 19, 2025 McKinney Economic Development Corporation

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LINE. IT'S LIKE IT'S A FUNNY LINE. GOOD MORNING. NOT A GOOD ONE TODAY. THERE'S THREE

[CALL TO ORDER]

[CONSENT ITEMS]

PLEASE PUSH YOUR SCREENS IN FRONT OF YOU. WE WILL SWITCH IT OR REVERSE IT. DON'T KNOW WHAT'S HAPPENING FAST ENOUGH. WE WILL REVERSE IT. WE'LL HAVE MOVER BY JULIE, SECOND BY SCOTT. ALL IN

[Board and Liaison Updates City of McKinney Community Development Corporation Visit McKinney MEDC Committee Updates Board Chairman]

THE 89TH TEXAS LEGISLATURE HAS CONVENED ITS SECOND SPECIAL SESSION AS OF FRIDAY. LAST FRIDAY, THEIR FIRST SPECIAL SESSION ENDED, AND THEN THEY BEGAN A SECOND ONE. AND OF COURSE, THERE'S LOTS OF EXCITEMENT HAPPENING DOWN AT THE LEGISLATURE. THE ITEMS THAT WERE LISTED BY THE GOVERNOR AS ITEMS TO BE DISCUSSED IN THE SECOND SPECIAL SESSION ARE CAMP SAFETY, FLOOD WARNING SYSTEMS, FLOOD EMERGENCY. WE ALL KNOW THIS HAS ALL HAS TO DO WITH THE KERRVILLE FLOODING. NATURAL DISASTER PREPARATION, RECOVERY. ALL OF THESE ELIMINATING STAAR TESTING CUT PROPERTY TAXES. THAT MEANS US THEY'RE LOOKING TO REDUCE THE CAP FROM A 3.5% TO 2.5%, AS IF YOU ALREADY DON'T HAVE RESTRICTIONS OR TIGHT, TIGHT RESTRICTIONS TO LIVE WITHIN THAT WILL AFFECT ALL OF US. OF COURSE, THEN WE HAVE A NUMBER OF OTHER ITEMS HUMAN TRAFFICKING VICTIMS, POLICE PERSONNEL, RECORDS AND BURIED INSIDE. THERE HAS A LITTLE SOMETHING TO DO WITH REDISTRICTING. DON'T KNOW WHAT THAT MIGHT BE, BUT YOU CAN FILL ME IN AFTERWARDS. ANYWAY, THAT IS THE SPECIAL SESSION THAT WILL BE ONGOING. I DON'T KNOW IF THEY'LL REACH A QUORUM OR NOT, BUT THAT ACTIVITY CONTINUES. OTHER ITEMS TO DISCUSS AND SHARE WITH YOU. WE ARE IN OUR BUDGET PROCESS. WE HAVE PROPOSED A BUDGET THAT IS PLUS 2.88%. THAT IS THE NO NEW REVENUE RATE PLUS 2.88%. AND THAT IS A BUDGET OF ABOUT $950 MILLION. TOTAL BUDGET. OUR OPERATING BUDGET IS PROPOSED TO BE SOMEWHERE AROUND $231 MILLION. OUR GENERAL FUND BUDGET, ALL THE OTHER FUNDS ARE YOUR WATER AND YOUR ENTERPRISE FUNDS, ETCETERA. SO WE ARE MOVING FORWARD TO CITY COUNCIL MEETING TONIGHT. WE'LL HAVE A PUBLIC INPUT SESSION. THE PUBLIC HEARING THAT'S REQUIRED, THE SINGLE PUBLIC HEARING REQUIRED IS GOING TO BE ON SEPTEMBER 2ND. AND THAT WILL BE THE BUDGET ADOPTION DATE. AND WE ARE MOVING FORWARD WITH ALL OF THAT. IF YOU HAVE ANY BUDGET QUESTIONS, YOU CAN CERTAINLY REACH OUT TO ME. OR YOU CAN ALSO COME TO THE PUBLIC MEETING IF YOU'D LIKE. WE HAVE ALSO FOUND OUT THAT WE HAVE THE $15 MILLION OF OUR FEDERAL ASSISTANCE FOR THE LOWER FIVE PLAZA, THE SUBGRADE CROSSING ACROSS UNDERNEATH HIGHWAY FIVE HAS BEEN WITHDRAWN UNDER THE BIG BEAUTIFUL BILL ACT. SO THAT MONEY WAS WITHDRAWN. WE'RE NOT THE ONLY CITY. THERE ARE A NUMBER OF OTHER CITIES THAT HAD I THINK AUSTIN HAD $105 MILLION WITHDRAWN FOR ONE OF THEIR PROJECTS ON INTERSTATE 35. WE ARE NOW MEETING. IN FACT, WE'LL MEET TONIGHT WITH CITY COUNCIL TO TALK ABOUT OR EVALUATE OUR OPTIONS. AND WHAT OTHER ALTERNATIVES ARE THERE OR WHAT THEY WOULD LIKE TO DO GOING FORWARD. SO THAT IS A HOT AND HOT, HOT TOPIC IN FRONT AND CENTER FOR US TO DECIDE HOW TO MOVE FORWARD WITH THE LOSS OF $15 MILLION IN THAT FEDERAL FUNDING. AND THEN, JUST FYI, DOWNTOWN, WE HAVE AN ENGINEERING PROJECT. WE'RE GOING TO HAVE A PUBLIC OPEN HOUSE FORMAT MEETING ON AUGUST 27TH AT 6 P.M, RIGHT HERE IN THE CHAMBERS. THIS IS OUR ENGINEERING DEPARTMENT FOR THE PROJECT, THE PUBLIC INFRASTRUCTURE ON TENNESSEE,

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OKAY. SETTING OF THE TAX RATE. ADOPTION OF THE BUDGET. SEEMS LIKE THERE'S ONE OTHER THING THAT'S DONE AS WELL I THINK FEES. THE FEES THAT ARE RELATED TO THE BUDGET ARE ALSO SET THAT NIGHT. OKAY. THANK YOU. OKAY. QUESTIONS. BY THE WAY, I MENTIONED TO MENTION THE PROPOSED TAX RATE. IF I GET IT RIGHT, 0.4 12I BELIEVE, WHICH IS A REDUCTION. WE HAVE I MEAN OF COURSE IT'S A FUNCTION OF ALGEBRA, RIGHT. SO IF PROPERTY VALUES GO UP YOU REDUCE YOUR RATE TO PRODUCE A LEVY OR LEVY IS THE NO NEW REVENUE RATE PLUS WHATEVER PERCENT. OURS GENERALLY TRACKS INFLATION. THAT'S WHAT WE'RE SEEING. OKAY. THANK YOU. THANK YOU. ALL RIGHT. NEXT UP COMMUNITY DEVELOPMENT CORPORATION, MADAM PRESIDENT. GOOD MORNING, MR. VICE CHAIR, MEMBERS OF THE CDC BOARD, CINDY SCHNABEL, PRESIDENT OF CDC. THANKS FOR THE OPPORTUNITY TO BE HERE TO PROVIDE A QUICK UPDATE. THERE WAS A REPORT ATTACHED TO THE AGENDA. JUST WANTED TO MENTION A COUPLE OF OTHER THINGS. THE BOARD APPROVED A NUMBER OF PROMOTIONAL GRANTS AT THE BOARD MEETING LAST MONTH. ONE OF THE EVENTS IS A NEW EVENT FOR MCKINNEY, ROOTED IN RHYTHM, THAT WILL BE HELD AT TUPPS BREWERY, WAS ORIGINALLY PLANNED FOR LAST YEAR, WAS RESCHEDULED BECAUSE OF WEATHER ISSUES, SO THAT WILL TAKE PLACE IN OCTOBER OF THIS YEAR. WE'VE GOT SEVERAL PUBLIC HEARINGS ON OUR AGENDA FOR NEXT WEEK TO A RETAIL INFRASTRUCTURE GRANTS. ONE IS FOR HORIZONTAL INFRASTRUCTURE AT A STRIP CENTER ON 380 ACROSS FROM RAYTHEON. YOU MAY KNOW WHERE THE BLUE OLIVE RESTAURANT IS LOCATED. THERE ARE PLANS TO UPDATE THAT. SO THEIR INFRASTRUCTURE NEEDS THAT THEY HAVE APPLIED TO CDC FOR. AND THEN THE OTHER IS FOR SOME INFRASTRUCTURE WORK AT THE COTTON MILL. WE'VE ALSO GOT A PUBLIC HEARING SCHEDULED FOR AN AMENDED PROJECT, THE NEIGHBOR HUB, WHICH THE BOARD APPROVED A GRANT FOR LAST YEAR. ABOUT THIS TIME, THEY. SANCHEZ CHARITIES HAS PARTNERED WITH A NUMBER OF NONPROFITS, INCLUDING CATHOLIC CHARITIES OF DALLAS, TO BE ABLE TO EXPAND THE SCOPE OF THAT PROJECT. IT WILL BE A NONPROFIT RESOURCE CENTER THAT HOUSES MULTIPLE AGENCIES THAT SERVE RESIDENTS, WITH A GOAL OF KEEPING THEM OUT OF A STATE OF HOMELESSNESS, SO THE BOARD WILL HEAR AN AMENDED REQUEST ON THAT.

AND THEN THE BUILD YOUR OWN BUSINESS SILOS FINISH OUT HAS BEGUN. OVER AT THE TUBBS CAMPUS.

PROBABLY WON'T SEE COMPLETION FOR ANOTHER FEW MONTHS, BUT THEY CURRENTLY HAVE FIVE RETAILERS, FIVE SILOS THAT HAVE BEEN LEASED BY STARTUP RETAIL BUSINESSES AND ARE WORKING ON LEASING OUT THE SIXTH. AND THEN WORK IS ALSO CONTINUING ON LEILA'S COFFEE OVER THERE AS WELL. SO SLOW, BUT SURE IS THE IS THE MOTTO THERE AND I'M HAPPY TO STAND FOR ANY QUESTIONS. QUESTIONS. OH GOOD.

THANK YOU FOR THE UPDATE. APPRECIATE YOU. NEXT UP VISIT MCKINNEY. THE MAN WITH THE BEST LAWN IN MCKINNEY. AARON. THANK YOU. NOT NOT QUITE, BUT APPRECIATE THE EFFORT. BUT WE ALREADY KNOW THAT NOBODY KNEW ABOUT HIS LAWN. GOOD MORNING, MR. VICE CHAIR. MR. PRESIDENT, MEMBERS OF THE MEDICI BOARD, THANK YOU FOR THE KIND REMARKS THERE, SIR. WE'RE EXCITED. TWO WEEKS AGO, WE INTRODUCED SARAH NOLTING TO OUR TEAM AS THE SENIOR COMMUNICATIONS AND MEDIA SPECIALIST. SO SHE'S NOW LEADING OUR MARKETING EFFORTS AT THE MCKINNEY TEAM. SHE'S COMING TO US FROM THE TOWN OF LITTLE ELM, A VERY STRONG CANDIDATE. WE HAD A REALLY GREAT CANDIDATE POOL.

AND I ALSO WANTED TO TAKE THIS MOMENT TO THANK MR. KYARI FOR JOINING US FOR ONE OF OUR FINAL ROUNDS OF THE INTERVIEW POOL, JUST TO GIVE HIS FEEDBACK, AND OBVIOUSLY, WE REALLY APPRECIATE THE WORK HE'S DOING OVER HERE IN MEDICI AND WOULD LOVE TO CONTINUE THAT PARTNERSHIP. SO WELCOME, SARAH. IF YOU IF YOU POP INTO OUR OFFICE, SAY HELLO TO HER. THE OUR SALES AND RECRUITMENT PROCESS IS KIND OF CONTINUING THE SAME TREND THAT WE'VE BEEN SEEING THE LAST COUPLE YEARS. IT'S HEAVY ON THE SPORTS SIDE OF THINGS, SO WE'RE CURRENTLY WORKING THINGS, ADDITIONAL PICKLEBALL EVENTS. WE'RE WORKING TO SECURE WORLD CUP ROOM BLOCKS. SO LEISURE ROOM

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[Consider/Discuss MEDC Monthly Reports]

THANK YOU. THANKS, MICHAEL. MANAGER LUCA WILL NOW SPEAK ABOUT THE MARKETING REPORT THAT

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[Main Street Downtown Development Update and Strategic Objectives]

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RIGHT? YOU GO TO MANY DISTRICT, MANY DOWNTOWN'S THROUGHOUT TEXAS, AND YOU WON'T SEE THAT OUR OUR OBJECTIVE IS TO KEEP MCKINNEY THE HEARTBEAT OR DOWNTOWN THE HEARTBEAT OF MCKINNEY SINCE 1848. JUST SOME STATS ON US I SHOULD UPDATE ACTUALLY OCTOBERFEST. WE HAD MORE PEOPLE LAST YEAR. ONE OF THE THINGS THAT I LOVE TO HIGHLIGHT IS WE HAVE OVER 200 PLUS SMALL BUSINESSES, AND THIS NUMBER IS REALLY OUR FIRST FLOOR TENANTS, RIGHT? THESE ARE THE BUSINESSES THAT ARE OPEN TO THE PUBLIC, NOT NECESSARILY OUR OFFICES. WE HAVE AN ADDITIONAL 400 OR ADDITIONAL 200 RIGHT ABOVE THOSE BUSINESSES. AND OFTEN THOSE ARE SOME OF THE MOST DYNAMIC BUSINESSES THAT WE HAVE IN THE CITY. A LOT OF TECH STARTUPS THAT ARE IN DOWNTOWN, GREAT OFFICES. AND THEN OVER 112 ANNUAL EVENTS. WE'LL PROBABLY HAVE TO UPDATE THIS AT THE END OF THIS YEAR, BECAUSE WE'RE SEEING MORE MORE EVENTS THROUGHOUT THE YEAR. JUST A LITTLE BIT ABOUT OUR HISTORY AND SOME CATALYST PROJECTS THAT LED TO LED TO THE REVITALIZATION OF DOWNTOWN. OBVIOUSLY, IMPACT, YOU KNOW, HAD BEEN ABANDONED FOR MANY YEARS. THE RENOVATION IN THE EARLY 2000 LED TO KIND OF AN INVESTMENT THROUGH FROM PRIVATE CITIZENS AND INTO INTO THE DISTRICT, AS WELL AS WELL AS A LOT OF INFRASTRUCTURE WORK DONE BY THE CITY. MCKINNEY TODAY, IT'S, YOU KNOW, ONE OF THE MOST VIBRANT DISTRICTS. I LOVE TO SEE THE FARMER'S MARKET. THEY'RE CELEBRATING OUR ARTS OFFERINGS AS WELL. LOTS OF GREAT STUFF, SOME THINGS COMING DOWN THE HORIZON. SO WE'RE WE'RE WORKING ON AN IMPACT REBRAND AND RENOVATION. THIS IS A PRETTY BIG INVESTMENT BY THE CITY TO IF YOU'VE BEEN TO IMPACT IT IS THERE'S A LOT OF DEFERRED MAINTENANCE THAT NEEDS TO BE ADDRESSED, BUT THERE'S ALSO A LOT OF OPPORTUNITY TO REALLY REVITALIZE WHAT'S HAPPENING IN THE IMPACT, INCLUDING CREATING SOME NEW OPPORTUNITIES FOR THE PUBLIC. AND THEN THE CONSTRUCTION IS SLATED TO START EARLY 2026. ONE OF THE THINGS THAT WE KNOW THAT, YOU KNOW, IMPACT DOESN'T REALLY RESONATE WITH A LOT OF OUR GUESTS, AND WE ARE GOING TO KIND OF REBRAND INTO THE COURTHOUSE THEATER, WHICH IS A MUCH COOLER SOUNDING NAME FOR THE VENUE AND REALLY HIGHLIGHTS THE HISTORY. AND IT'S ALSO CURRENT USE AND IT'S ADAPTIVE REUSE. SO JUST KIND OF HIGHLIGHTING A LITTLE BIT OF OUR DOWNTOWN BUSINESS RECRUITMENT.

AND I THINK I GAVE Y'ALL I DON'T KNOW IF Y'ALL HAVE THIS. YEAH. PERFECT. SO THIS IS YOU KNOW, GRAHAM AND LUKE AND YOU KNOW A NUMBER OF THE EDC TEAM HAVE WORKED VERY HARD ON A NEW BUSINESS RECRUITMENT STRATEGY FOR DOWNTOWN. SO SOME OF THE WORK THAT WE DO, WE HELP PEOPLE MATCH AND FIND SPOTS IN DOWNTOWN. THAT'S SOMETHING THAT WE WORK, YOU KNOW, QUITE STRONGLY WITH. AND GRAHAM LEADS THAT AND HE DOES A GREAT JOB WITH THAT. WE DO A LOT OF OMBUDSMAN WORK FOR OUR BUSINESSES. SO IT'S NOT EASY TO TAKE AN OLD HISTORIC PROPERTY AND DO AN ADAPTIVE REUSE AND NAVIGATING KIND OF THE CITY ON THOSE, BECAUSE, YOU KNOW, OUR CITY STAFF IS OFTENTIMES, YOU KNOW, GEARED FOR NEW DEVELOPMENT. AND IT IS VERY TRICKY SOMETIMES WHEN YOU LOOK AT ADAPTIVE REUSE. AND THEN WE HIGHLIGHT AND PROMOTE A NUMBER OF INCENTIVES, SOME FROM EDC AS WELL. BUT OUR NCDC RETAIL INFRASTRUCTURE GRANTS WE OFFER AS WELL, THE TEXAS HISTORIC COMMISSION, DESIGN SERVICES, OBVIOUSLY, WE WORK WITH THE CITY ON THE TOURS, GRANT OPPORTUNITIES AND ALSO PUBLIC ART GRANTS. SO SOME DOWNTOWN BUSINESS SUPPORT. SO THIS IS KIND OF, YOU KNOW, A LOT OF WHERE WE OPERATE FOR, FOR OUR CURRENT BUSINESS CUSTOMERS PROMOTIONS. SO BOTH OVERSEEING OUR EVENTS AND OUR ADVERTISING FOR THE DISTRICT BEAUTIFICATION THANK EVERYTHING FROM PUBLIC ART TO MAKING SURE THE PLANTS LOOK GREAT. AND WE DO A LOT OF THIS IN CONJUNCTION WITH OTHER CITY DEPARTMENTS. SO I DON'T WANT TO SIT HERE AND SAY THAT GRAHAM'S OUT, YOU KNOW, PLANTING FLOWERS AND STUFF. BUT WE WORK WITH OUR PARKS AND REC TEAM AS WELL AS ENGINEERING TO MAKE SURE DOWNTOWN LOOKS GREAT.

COORDINATING DOWNTOWN CONSTRUCTION ACTIVITIES. WE HAVE A BIG CONSTRUCTION INVESTMENT, SORRY, A BIG INFRASTRUCTURE INVESTMENT HAPPENING ON THE NORTH SIDE AROUND THE OLD CITY HALL PROPERTIES. AND SO WE WORK VERY CLOSELY WITH OUR ENGINEERING AND PLANNING TEAMS

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HERE ARE JUST A SAMPLE OF SOME OF OUR LARGE EVENTS THAT WE HAVE. OUR BIGGEST OBVIOUSLY OKTOBERFEST, WHICH IS ALMOST A MONTH AWAY, WHICH IS HARD TO BELIEVE. JUST KIND OF TALK A LITTLE BIT ABOUT SOME OF OUR PROMOTIONAL ACTIVITIES AND BEAUTIFICATION. SO THIS IS SOME ART INSTALLATIONS THAT WE JUST LAUNCHED EARLIER THIS YEAR, AND WE DON'T DO ANY OF THESE ACTIVITIES JUST FOR THE SAKE OF ART. AND THIS IN THIS GUIDE WE ACTUALLY CREATED, WE DID THESE 31 LIFE SIZE BIRD MURALS ALL THROUGHOUT DOWNTOWN, AND WE WORKED WITH OUR BUSINESSES TO HOST THE MURALS. AND THEN ALSO YOU WOULD GO INTO THE BUSINESSES AND COLLECT THESE STICKERS AT ALL THESE DIFFERENT WAYS. SO THE IDEA IS, HOW DO WE MAKE THIS A CREATIVE EXPERIENCE THAT THAT LAYERS THE CULTURE, BUT ALSO IT DRIVES PEOPLE TO OUR STAKEHOLDERS. YOU PROBABLY SAW THIS COMING IN A NEW ROUNDABOUT SCULPTURE THAT WE JUST UNVEILED WITH A LOCAL ARTIST, ALI. AND THEN OBVIOUSLY WE ALSO OVERSEE THE DOWNTOWN TROLLEY, WHICH IS A HUGE AMENITY AND ASSET FOR THE DISTRICT OF GETTING PEOPLE ACROSS TO THE KIND OF THE NEWER INVESTMENT OVER HERE ON THE EAST SIDE. IT'S A FIXED 15 MINUTE ROUTE. AND REALLY FOR US, WHEN YOU THINK ABOUT MAIN STREET AND LAYERING ON OUR RICH HISTORY WITH CURRENT OFFERINGS, WE CHOSE TO MIMIC AND PAY TRIBUTE TO THE OLD INTERURBAN THAT USED TO RUN THROUGH DOWNTOWN. THIS HAS BEEN VERY SUCCESSFUL FOR US. SO I INVITE GRAHAM TO KIND OF TALK ABOUT SOME CURRENT EDC COLLABORATIONS. GOOD MORNING, VICE CHAIR BOARD, MR. PRESIDENT. YES. SO MAIN STREET AND EDC, WE HAVE A SHARED VISION FOR DOWNTOWN AND WHAT THAT CAN BECOME. AND I KNOW I'VE SPOKEN A LOT WITH MR. KOSKI, A LOT WITH LUKE AND A LOT WITH MICHAEL TALLEY. AND OUR FOCUS, IT'S SIMILAR. IT'S LET'S GROW DOWNTOWN, LET'S MAKE IT VIBRANT. LET'S SEE WHAT WE CAN DO. WORKING TOGETHER FOR THAT COMMON GOAL. AND SO ONE THING I FOCUSED ON, AND ANDREW I KNOW HAS BEEN VERY SUPPORTIVE OF IS HOW HOW OFTEN WE CAN GET MEDICI PROGRAMED IN OUR EFFORTS. HOW OFTEN CAN WE TAP INTO THEIR TALENT. SO BUSINESS RECRUITMENT THAT EVERY TIME I GET A PHONE CALL, I SEND IT THEIR WAY? IF IT HAS ANYTHING TO DO WITH OFFICE OR ANY SORT OF COMPANY LOOKING TO MOVE LIKE SOME SORT OF HEADQUARTERS TO DOWNTOWN, THEY CONSTANTLY REACH OUT. TO ME, IT IS A CONSTANT COLLABORATION ON WHERE CAN WE GET PEOPLE ENGAGED AND PROGRAMED AND INVESTING THEIR BUSINESS IN DOWNTOWN. AND THEN NOW, THINKING OF THE SCAVENGER HUNT I HAD TO TAP, OR ACTUALLY, I KNEW I HAD TO BECAUSE HE'S A CREATIVE GENIUS. LUKE FROM THE EDC TEAM, HE IS ACTUALLY WORKING WITH ME ON THE SCAVENGER HUNT. LAST YEAR, THIS SMALL LITTLE IDEA THAT WE HAD BROUGHT 4500 PEOPLE TO DOWNTOWN, MORE THAN 2500 PEOPLE ACTUALLY PARTICIPATED IN THE EVENT. IT WAS WILD SEEING THESE PEOPLE SCRAMBLING AROUND DOWNTOWN LOOKING FOR THESE CLUES. I AM THE PUZZLE MASTER, SO I'M THE ONE TORTURING THEM AND I'M GOING TO DO IT AGAIN THIS YEAR. BUT LUKE HAS BEEN GREAT AT HELPING ME DEVELOP THE NARRATIVE AROUND THIS ONE. THIS ONE'S GOING TO BE VERY DIFFERENT FROM LAST YEAR, SO WE'LL SEE A LOT OF DUMBFOUNDED FACES AND A LOT OF PEOPLE GETTING CHALLENGED DOING PUZZLES AROUND DOWNTOWN. AS YOU CAN SEE, WE ACTUALLY ADDED SOME ARTWORK TO THE OLD CITY HALL. IT IS REALLY NEAT AND IT GLOWS AT NIGHT. IF YOU WANT TO DRIVE BY THERE, THAT WILL BE CLEANED OFF AFTER THE EVENT HAPPENS, BUT SOMETHING WE'RE REALLY EXCITED. WE WORKED WITH A LOCAL ARTIST ON THAT ONE, BUT FOR OUR EFFORTS, DATA SHARING IS VERY IMPORTANT AND SO I KNOW WE'VE PULLED A LOT OF DATA FROM THE NCDC TEAM, AND I KNOW WE'VE RECEIVED SOME FROM Y'ALL AS WELL. AND THAT'S SOMETHING THAT WE CONVEY AND PASS ON TO THOSE INTERESTED IN INVESTING IN DOWNTOWN AND THEN MOVING FORWARD. WE WANT TO CONTINUE TO DO ITEMS LIKE THIS. SO WE BROUGHT IN DAVID RENDALL.

HE IS A PHENOMENAL SPEAKER. ABOUT I SPOKE ABOUT MARKETING AND BRANDING AND WE BROUGHT HIM IN, I THINK IT WAS LAST MONDAY OR THE PREVIOUS MONDAY AND HE WAS PHENOMENAL. WE RAN A WORKSHOP WITH HIM. I GOT GREAT FEEDBACK. WE ACTUALLY INVITED A LOT OF THE MEDICI FUND MEMBERS, AS WELL AS JUST ANYONE WHO IS ENGAGED WITH THE EDC, AND I PERSONALLY RECEIVED NUMEROUS EMAILS FROM THEM, EVERYONE WHO ATTENDED, AND THEY ALL WERE VERY APPRECIATIVE OF THAT EFFORT. AND THEN, OF COURSE, WE ALWAYS EVERY MAJOR EVENT THAT WE HAVE, WE WANT TO EMBRACE AND THEN MAKE SURE THAT EDC IS ABLE TO SHARE THOSE EXPERIENCES WITH THEIR INVESTMENTS, THEIR STAKEHOLDERS,

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COMPLEMENTARY ATTRACTIONS AND NIGHTLIFE. WE ARE ALWAYS ON THE LOOKOUT FOR THAT. FOR ANOTHER ATTRACTION TO ENHANCE OUR NIGHTLIFE OPPORTUNITIES. AND THEN I WOULD SAY, YOU KNOW, IN SUPPORT OF VISIT MCKINNEY, JUST RECRUITMENT OF AN ADDITIONAL HOTEL PRODUCT THAT WOULD BE COMPLIMENTARY TO DOWNTOWN. WE SEE THAT AS A AS A REAL GROWTH OPPORTUNITY TO ELONGATE PEOPLE'S STAYS IN DOWNTOWN. SO WE HEAR QUITE OFTEN ON THE WEEKEND, YOU KNOW, THE GRAND IS FULLY BOOKED AND THEY WANT A PLACE TO STAY TO EXPERIENCE DOWNTOWN IN A LONGER CAPACITY. AND THEN INFRASTRUCTURE UPGRADES. THE BENEFIT THAT WE THAT WE HAVE FROM ALL THE BEAUTIFUL ARCHITECTURE IS THAT IT'S OLD AND IT IS SOMETIMES IT NEEDS REHAB. AND SO IN CONJUNCTION WITH OUR ENGINEERING TEAM, WHETHER THAT'S FIRE SUPPRESSION OR JUST UTILITY, SUBSTANDARD UTILITY WORK, THAT'S SOMETHING THAT WE'RE CURRENTLY WORKING ON JUST TO AROUND THE LIBRARY TO PREPARE FOR THE REDEVELOPMENT THAT'S COMING. SO WITH THAT, I'LL STAND FOR ANY QUESTIONS. SO ANDREW, ANDREW, A COUPLE OF COMMENTS. FIRST, THE PINK GOLDFISH GUY WAS AMAZING. THANK YOU FOR INCLUDING US IN THAT. I KNOW SEVERAL OF US BOUGHT THE BOOK, BUT I JUST WANTED TO SAY I KNOW MATT AND I HAVING SERVED ON THE MAIN STREET BOARD, IT IS A FEEDER. I'M JUST SAYING. OH YEAH. YEAH, ABSOLUTELY. HAVING HAVING BEEN ON THAT BOARD, WE CAN ATTEST TO THE FACT THAT I THINK PEOPLE HAVE NO IDEA OF WHAT YOU GUYS DO AND THE DELICATE BALANCE OF ALL THE EVENTS AND KEEPING THE RETAILERS HAPPY AND MAKING MCKINNEY AN ENJOYABLE PLACE TO BE. YOU GUYS DO A GREAT JOB. YEAH. THANK YOU. JULIE. YEAH, I THINK YOU GUYS DO A FANTASTIC JOB. AND AGAIN, THE HEART OF MCKINNEY I THINK IS THE DOWNTOWN. AS YOU ELOQUENTLY SPOKE TO. HAS THERE BEEN ANY CONVERSATIONS? I KNOW IT'S A DELICATE BALANCE BETWEEN JUST THE LENGTH OF TIME THAT SOME OF THE RETAILERS STAY OPEN. I MEAN, THE COMMON THEME IS USUALLY IS THAT, YOU KNOW, THEY ROLL UP THE STREETS PRETTY EARLY IN DOWNTOWN. AND AGAIN, WE HAVE SOME REALLY GREAT RESTAURANTS THAT ARE COMING TO DOWNTOWN. AND I THINK IT WOULD JUST HELP, YOU KNOW, WITH THE SALES AND, YOU KNOW, SALES TAX AND ALL THAT SORT OF STUFF. AND I KNOW IT'S A DELICATE BALANCE BETWEEN, YOU KNOW, YOU DON'T CONTROL THAT, BUT JUST THE HOW DO YOU ENCOURAGE. YEAH. KURT, YOU'RE IDENTIFYING PROBABLY THE HARDEST PART OF OUR JOB IS THE FACT THAT, YOU KNOW, WE OPERATE IN AN INFLUENTIAL CAPACITY A LOT OF TIMES IN, IN A LOT OF CAPACITIES. BUT WE DO ENCOURAGE OUR BUSINESSES TO STAY OPEN LATER. I THINK IT IS VERY DIFFICULT TO ALWAYS MAKE THAT KIND OF CALL. AND IT'S SOMETHING THAT, YOU KNOW, I KNOW MATT AND I HAVE HAD LOTS OF CONVERSATIONS ABOUT OVER THE YEARS, BUT YEAH, OURS. BUT IT IS SOMETHING THAT WE REALLY DO ENCOURAGE OUR RETAILERS. I THINK THE REALITY IS A LOT OF THEM ARE VERY SMALL AND THEY'RE NOT AT THE CAPACITY WHERE THEY ARE. MOM AND POP, THEY'RE RUNNING THE STORE THEMSELVES. AND SO AFTER A LONG DAY, YOU KNOW, THEY TEND TO WANT TO GO HOME, TO GO HOME TO. AND, YOU KNOW, THAT'S PART OF THE GROWTH STRUGGLE RIGHT NOW OF DOWNTOWN IS THAT IT HAS GROWN. AND WE HAVE BUSINESSES THAT ARE DOING VERY WELL AND THAT ARE OPEN LATER. AND IT'S SEEING A LOT OF SUCCESS. BUT YOU ALSO SEE THOSE THAT HAVEN'T KIND OF GROWN BEYOND THAT INITIAL INVESTMENT. FOR A SMALL OWNER THAT'S STILL RUNNING THE FRONT COUNTER, YOU KNOW, SMALL THINGS. YOU GUYS ARE DOING FANTASTIC. I THINK THAT, BUT I HEAR YOU AS FAR AS THE GROWTH PROBLEMS. YEAH, IT'S KIND OF SOME GROWING PAINS THERE. OUR NIGHTLIFE THOUGH HAS GROWN TREMENDOUSLY IN THE LAST COUPLE OF YEARS, AND SO WE ARE SEEING A

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YES. SO JUST A RECOMMENDATION. GO AHEAD AND START IT AT TWO BECAUSE ALL THE TEXAS FANS ARE GOING TO BE UPSET AFTER THEY LOSE THAT GAME. OH THEY'LL HAVE A LOT OF TIME. SO I THINK THE EDC SHOULD HAVE A TEAM. I THINK THE EDC SHOULD HAVE A TEAM. THERE YOU GO, ANDREW, DO YOU HAVE ANYTHING YOU CAN COMMENT ON THE MARKETING PROGRAM WITH THE RICHARDS GROUP THAT YOU. YEAH.

FOR US VERY EXCITED. WE ARE WE'RE ABOUT TO RELEASE THAT. SO WE'VE WORKED VERY CLOSELY. WE KNOW THAT FOR US THE OPPORTUNITY IS TO REINTRODUCE DOWNTOWN MCKINNEY TO THE BROADER DFW METROPLEX. AND IN ORDER TO DO THAT, WE'VE ENLISTED THE RICHARDS GROUP OR TRG TO COME OUT AND KIND OF RECAPTURE AND RE MESSAGE WHAT WHAT WE'RE DOING IN DOWNTOWN IN A NEW WAY, YOU KNOW, OBVIOUSLY HONORING OUR HISTORY, BUT ALSO SHOWING THAT THERE'S A LOT OF INNOVATION AND THAT'S HAPPENING IN OUR DISTRICT. SO WE ARE GOING TO LAUNCH THAT VERY SOON. WE JUST HAD A MEETING WITH THEM YESTERDAY TO WRAP UP AND MAKE THAT PRESENTATION. I JUST WANTED TO ECHO WHAT A LOT OF PEOPLE ARE SAYING. I ACTUALLY MOVED TO MCKINNEY TEN YEARS AGO BECAUSE I ACCIDENTALLY ENDED UP IN DOWNTOWN MCKINNEY, DOWNTOWN MCKINNEY AND MCKINNEY DO A PHENOMENAL JOB. THEY MAKE IT VERY EASY FOR US TO SELL MCKINNEY TO PEOPLE OUTSIDE OF HERE. SO I'M EXCITED ABOUT THE NEW THINGS COMING UP AND WHAT'S GOING TO HAPPEN WITH IMPACT. I'M REALLY EXCITED ABOUT THAT. SO THANK YOU FOR ALL THE STUFF THAT YOU DO. YEAH, I LOVE TO HEAR THAT STORY. YEAH. THAT'S GREAT.

MY I'D LIKE TO MENTION MY WIFE HAS A STORE IN DOWNTOWN MCKINNEY, AS YOU WELL KNOW. I KNOW YOU VISIT THERE OFTEN. AND IN JULY SHE MARKED 30 YEARS IN THAT IN THAT LOCATION WITH THAT STORE. AND ANYWAY, WE TALK ALL THE TIME ABOUT WHAT YOU GUYS DO AND HOW THINGS HAVE JUST EVOLVED OVER. AND I REMEMBER DOWNTOWN MCKINNEY AS A LITTLE BOY WHEN IT WAS THE ONLY PART OF TOWN, YOU KNOW, THAT WAS THAT WAS IT FOR MCKINNEY, REALLY. AND BUT IT'S AMAZING WHAT GOES ON DOWN THERE NOW. AND IT'S JUST IF YOU DON'T HAVE ANYTHING TO DO ANY DAY OF THE WEEK, ANY, ANY TIME OF THE YEAR, I THINK YOU COULD STRIKE OUT AND GO TO DOWNTOWN MCKINNEY AND FIND SOMETHING TO DO, YOU KNOW, AND I THINK THAT'S HUGE. SO ANYWAY, THANKS FOR EVERYTHING YOU DO. THANK YOU FOR ALL YOUR EFFORTS TO. ALL RIGHT. THANK YOU. THANK YOU VERY MUCH. THANK YOU. OKAY. I'M SORRY I LOST

[Consider/Discuss/Act on the June 2025 Financials]

[00:40:05]

BOARD COMMENTS. ALL GOOD, ALL GOOD. ALL RIGHT. NEXT ONE IS EXECUTIVE SESSION IN ACCORDANCE

[EXECUTIVE SESSION]