Plano ISD agrees to provide property tax funds for Dallas Stars arena
What happened
Plano ISD has agreed to provide up to $250 million in property taxes over 25 years to the Dallas Stars for a new arena in Plano, Texas. This agreement allows Plano ISD to host graduation ceremonies and other events at the new arena site. Voters in the area are scheduled to cast ballots next month on an additional $700 million in tax money, which could bring the total public cost to $950 million for the $1 billion arena.
From fieldofschemes.com
Why it matters
The funding mechanism involves a recapture adjustment, meaning the $250 million is offset by funds from poorer schools across the state. This project represents a major public investment in the Plano mixed-use district, which is currently pursuing new arena sites.
Senators and Stars are pursuing new arena sites in the Plano mixed-use district, with HNTB selected to design a new arena in Plano.
From fieldofschemes.com
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- TexasSpeculative
Education funding across Texas might be shifted due to the recapture adjustment used to offset the property tax contributions.