47.9 F
Fort Worth
Wednesday, December 2, 2020
CCBP McKinney announces land acquisition near McKinney National Airport

McKinney announces land acquisition near McKinney National Airport

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

Land to be purchased for $22.3 million, cash

The city of McKinney and the McKinney National Airport are purchasing approximately 190 acres of land near the southeast side of the airport, the entities announced Wednesday, Feb. 7.

“The city has been looking for opportunities to purchase additional land surrounding the airport, but no opportunities were available that we deemed to be consistent with future growth patterns,” City Manager Paul Grimes, said in the release.

McKinney City Council approved an ordinance amending the annual budget and Capital Improvement Program to provide $22.3 million in cash funding for the project.

“This land recently became available for a fair price and its proximity fit within the long-term strategy of the airport master plan. By purchasing the land, the airport will be able to expand its physical footprint and expand operations as the city and the entire region continue to grow,” Grimes said.

This acquisition is in-line with the airport’s master plan, which includes acquiring additional land surrounding the facility to allow the airport to expand over time.

The city currently owns 775 acres of land to help accommodate the airport master plan, and said in the release it city aims to add up to 500 more acres in the coming years.

“The airport is a lucrative asset that differentiates the City of McKinney from other cities in Collin County, making McKinney an enticing location for economic development. The airport also benefits the community to help provide city services and education dollars by the revenue it generates,” Mayor George Fuller, said in the release.

In 2010, an economic study conducted by the University of North Texas found that McKinney National Airport generates more than $44 million annually in economic impact to McKinney.

McKinney Independent School District is the largest beneficiary of the property tax valuation of the aircraft at McKinney National Airport receiving more than $1 million annually in ad valorem tax revenue, which funds the cost of education of more than 100 students a year, the release said.


close






Oh hi there 👋 It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Sundt Construction promotes four

Sundt Construction Inc. promoted four employee-owners in its Dallas office: Holly Horsak  to senior project manager, Amber Simonson  to project manager II, Maria Luna to...

Bell signs lease at former American Airlines Credit Union building

Bell Textron Inc., a Textron Inc. (NYSE: TXT) company and leading American aerospace manufacturer, has signed a long-term, 109,187-square-foot lease for the entire Class A, four-story building...

Real Deals: Loonam joins Arlington Board of Realtors

Walt Loonam joins Arlington Board of Realtors as MLS/IT Director The Arlington Board of Realtors has announced the addition of Walt Loonam as MLS/IT...

Alto partners with Toys for Tots as ‘On Demand’ Santa returns

Alto announces partnership With Toys For Tots, return of on-demand Santa Alto, a Dallas-based rideshare and delivery company, has announced it will partner with national...

Stream names Millington VP in Dallas office

Kristin Millington has joined Stream Realty Partners’ office leasing division as a Vice President in the firm’s Dallas office. Millington will focus on the leasing...