McKinney To Consider PIDS
City of McKinney and PIDs. Are they going to do it? They’re considering it. Let’s see exactly what that means. I have the document for you. Did some digging was able to uncover that and I’m ready to share that one with you. So this is public information.
We’ll be sharing it and seeing where we go. So let’s chat in that link and split the screen for I’m going to go ahead and grab controlled mouse and start to go over here.
So this is the draft policy that McKinney is looking at as far as their peid policy. And if they would do it or if they would not, they currently do not have a policy on it as it relates to it.
So this is a detailed document that you can definitely look at, and there’s going to be a bunch of information on it.
But essentially what they’re looking at is adopting to be able to do a PID, but in very restricted places where they are large master plan developments, essentially.
So they’re talking about this one in particular. A developer of the Honey Creek property has requested a PID for approximately sixteen hundred acres of land. So sixteen hundred acres is a pretty good size, right? And it’s a larger thing. And as you’re going through this, they want the city.
McKinney wants to have a formalized policy. As it relates to this, there are two different types of kids that you can apply for one that’s really not used in the state of Texas.
I think there’s only two of them for Dr. Blake Bennett, but so that one’s really not used and it’s not around here.
And then there’s the other one chapter three. Seventy two is the one that this would be what could be used within a PID. And these are some of the items water, wastewater, health.
I don’t really know what that one happens to be sanitation and drainage improvements. So this might be outdoor parks or something like that.
Streets and sidewalk improvement, mass transit improvements, parking improvements, libraries, parks, recreation, cultural improvements, landscape, all types of things fountain signs, art.
Ok, so as soon as you include art, you can include almost anything. That’s one of those things that’s in the eye of the beholder and value in art. Right. So maybe see Hunter Biden in some of his paintings for art and see the true definition of that because it is truly in the eye of the beholder.
Pedestrian malls, public safety improvements, affordable housing developments, rehab and expansion and supplemental services. All types of things can be included within PIDS, but we’re looking specifically at McKinney and what they want to do.
So they are trying to use a PID to develop this large neighborhood to help them out, to be able to do it a little bit differently. But they have a timeline and some rules that they’re trying to do.
They are looking at the size and planning on the side, so they want it to be a larger thing. And in limited situations, it could be an item that is used to bring a property in the city of McKinney or in the 8J of McKinney and encourage it to go within the city for taxation.
If anyone’s ever looked at a map of McKinney, what you’ll see is that in McKinney there’s a lot of DJ’s or extraterritorial jurisdictions. It’s not all within the city of McKinney.
It’s really crazy the amount of extra land that is not technically in the city of McKinney, and they’re trying to bring it in. But it’s all over the place, and it’s probably a real difficult thing to manage. So that’s part of the things and they’re trying to help move more in, but in really large chunks.
Not like one parcel at a time. Ok. And can they? The other key question is, can they accommodate all these extra people that are coming into the city, so to speak, from these extra territorial jurisdictions? Now they, you know, this is the draft policies.
They want to consider properties that are at least a thousand acres in size or located in the ETG and our 200 acres in size. So they’re smaller, but they would be willing to go into the city.
They must clearly demonstrate an extraordinary and distinct public benefit that would be going on here in developing the property and collecting and utilizing the PYD. They have an application fee and a deposit fee. So those are the real numbers that are being put up.
So you can see that this is on a larger scale. It’s not something that you’re trying to apply for if you really don’t think you’re going to be getting it. So there’s a bunch of money here. They may be kids may sell bonds. That are reimbursable for the development cost.
They must be long term financial capital for the PIDS contingency planning to address these different things and what happens and how if the PID had to be dissolved.
Budget management and the developer cannot administer the pit. Interesting. So that was a problem that people definitely had in the past, with the developer becoming the person that administers the PID. The city can hire a third party. Ok, so now we’ve kind of covered that we’ll come on back over here and just finalize this discussion. Why don’t we bring this up?
It’s because McKinney has a lot of property. This is something that has came up. You guys all have had questions about PIDS, MUDs, all these different types of special taxation units. And this is the city of McKinney in their policy as it relates to it. What they’re trying to adopt going forward. So will we see more of them? I don’t know. I think it’s going to take quite a while for this to come through.
And if they do, they would be large in size, scale and scope and possibly helping to draw in more to the city. So it might not be a bad thing. Thank you guys very much. Any other questions? Chat in and we’ll see if we can get those covered in the wrap.