Retail Development Infrastructure Grants (RDIG) provide funding support for infrastructure improvements for redevelopment of retail properties within the City of McKinney. Retail is defined as sales tax generating businesses including storefronts, shops, restaurants, specialty food venues, event venues, salons (if the business includes a retail sales component), grocery stores, drug stores. To qualify for funding, applicants must demonstrate the infrastructure improvements that would support new or expanded business activities.
Purpose and Scope of Retail Development Infrastructure Grants
- Grant requests must be eligible for funding under Chapters 501-505 of the Texas Local Government Code.
- This grant is intended for redevelopment of aging property.
- New construction will not be considered.
- Applicant must demonstrate that the proposed infrastructure improvements are necessary to develop new or expanded business.
- Priority will be given to projects necessary to ensure the viability of a business and generation of sales tax revenue.
- Priority will be given to projects directly related to ensuring safety of people visiting the establishment.
- Board may consider applications for projects that are complete or already underway, if the project start date is within six months prior to application cycle.
Project Location Consideration
Eligible locations include any location within McKinney city limits. However, priority funding locations are within ½ mile of the boundaries listed below:
- Locations along major City thoroughfares including 380 (North), Custer Road (West), Eldorado (South), Highway 5 (East)
- Locations in Downtown McKinney
- Locations throughout the McKinney Historic Cultural District
Eligible Improvements
The Retail Development Infrastructure Grants will fund infrastructure improvements, for retail establishments or buildings housing a retail enterprise, that are exterior to a property, necessary to promote or develop new or expanded business enterprises, and include:
- Sewer
- Water
- Electric Utilities
- Gas Utilities
- Drainage
- Site Improvements
- Lighting (for security enhancements only)
- Fencing (for security enhancements only)
- Landscape only considered if replacement required due to infrastructure improvements)
- Walkways – concrete or other materials
- Parking
- Fire suppression systems – however, requests from businesses in the downtown historic district for funding support for fire suppression should be addressed to the City of McKinney Planning Department – TIRZ Grant program.
Please include the information outlined below to ensure board consideration for funding.
- Detailed project description
- Overall project goals – (e.g. – expanded retail business, financial impact, new business generated, new demographic reached, efficiency impact, safety and security impact, etc.)
- Project Timeline (design to completion)
- Detailed project budget
- Project design plans/images
- Projected impact on McKinney’s economy
- Projected impact on McKinney’s quality of life
- Financial viability of business (Please provide the following documentation)
- Verification of business status (IRS letter of determination, W9, registration with the Secretary of State);
- Most recent two years of audited financial statements including budget and profit/loss statements (written explanation if audit not available);
- Funding sources for the project, impact of project and how it will lead to new or expanded business and financial position.