Texas city approves housing P3

McKinney City Council has authorized the start of procurement for an affordable housing P3 project in the city.

McKinney City Council has authorized the start of procurement for an affordable housing P3 project in the city.

The council authorized a draft request for qualification (RFQ) for the McKinney Housing Finance Corp to enter into a P3 with a developer to deliver multi-family affordable housing units.

The city will secure land in four Census tracts that comprise most of the city west of US Highway 75.

According to advisors Strategic Partnerships, the developer will help identify a tax credit syndicator with competitive terms as part of the deal.

The city has previously utilized a P3 to deliver affordable housing projects, most notably in 2018.