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The Corporation is a non-profit corporation duly organized and operating under the laws of the State of Texas, particularly Section 4B of the Act. The Corporation was created following an election held by the City on May 3, 1997, on the question of a ½ of 1% local sales and use tax in the City for the benefit of the Corporation. The Corporation as currently organized is to promote and provide for the economic development within the City and State of Texas in order to eliminate unemployment and underemployment and to promote and encourage employment and the public welfare of, for, and on behalf of the City by developing, implementing, providing, and financing projects under the Act and as defined in Section 4B of the Act. The City Commission of the City of McAllen appoints the members of the Board of Directors of the Corporation and under the provisions of the Act and the Corporation's by-laws is required to approve certain actions of the Corporation, including the issuance of the Bonds by the Corporation.

Public Hearing May 20, 2009

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.

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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”.

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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

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Loan Guarantee Executive Summary

Development Corporation Documents

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The McAllen Self-Sufficiency Project
Project Expense Comparison 2005

The adoption of a new sales and use tax being a Section 4B sales and use tax at the rate of one-half of one percent to undertake projects as described in Section 4B of Article 5190.6, including but not limited to the following specific projects:

In addition to any other projects or expenditures, including maintenance and operation cost of any project, authorized under the provisions of Section 4B, Article 5190.6, the above specific projects will be completed within the first eight years after the beginning of the collection of the tax.