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Organized for the purpose of benefiting and accomplishing economic development, employment for the public welfare of the City. McArts Project NOTICE IS HEREBY GIVEN that the Development Corporation of McAllen, Inc. intends to participate in “Project”, as defined in the Development Corporation Act of 1979, as amended, Texas Revised Civil Statutes Annotated Article 5190.6, including, but not limited to, designing, acquiring, improving, and operating “McArts Project”, Adaptive Reuse of Main Library Building, 601 N. Main in the McAllen Arts District.  View Offical Notice
Presentation Slides
Wi-Fi Technology NOTICE IS HEREBY GIVEN that the Development Corporation of McAllen, Inc. intends to participate in “Project”, as defined in the Development Corporation Act of 1979, as amended, Texas Revised Civil Statutes Annotated Article 5190.6, including, but not limited to, designing, acquiring, improving, and operating “the Development of Broadband network that includes fiber and Wi-Fi technology for public safety communication services and the McAllen Community, including a U.S. Department of Commerce-National Tele-communications and Information Administration Economic Stimulus grant application”. View Official Notice
Grant Application Memo Embassy Suites Hotel NOTICE IS HEREBY GIVEN that the Development Corporation of McAllen, Inc. intends to participate in “Project”, as defined in the Development Corporation Act of 1979, as amended, Texas Revised Civil Statutes Annotated Article 5190.6, including, but not limited to, designing, acquiring, improving, a project known as Convention Center Embassy Suites.” A 380 Loan Application is being considered in order to aid in the financing of a 195-room full-service hotel adjacent to the Convention Center. Financial assistance is estimated to be no greater than $3,571,750 of a $34,000,000 project. The potential benefit to the City would be an increase in use of the Convention Center by national, state and regional conventions, an increase in revenue streams including property taxes, hotel occupancy taxes, sales taxes and mixed beverage taxes as well as an increase in employment opportunities via the estimated $1.3M payroll it is expected to generate. Repayment of the 380 Loan is anticipated to be made from the revenue generated by the hotel project. A public hearing on the View Official Notice
Loan Guarantee Executive Summary
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