The details
The extension was unanimously approved by Flower Mound Town Council members at their meeting on Nov. 18. Council member Adam Schiestel, deputy mayor pro tem, said during the meeting he generally is not in favor of TIRZ.
“If we don’t do this and use this for the cultural center, then we’ll never have a cultural arts center unless we want to go into debt," Schiestel said.
The zone took effect on Jan. 1, 2005 and was set to expire on Dec. 31. The tax increment reinvestment zone encompasses about 1,465 acres predominantly along the Long Prairie Road corridor between Justin Road and Chaparral Lane.
Based on a feasibility study conducted in coordination with town staff, $50 million is the recommended budget for the arts center project, which will be funded through the TIRZ.
Zooming in
To pay for the center, town officials proposed extending the zone for an additional five years. Over the course of five years, the town’s participation in the zone will go from 100% to 60%. The town also has an agreement with Denton County to participate in the zone. This agreement has to be amended along with the zone to fund the arts center.
Council members approved an amended agreement with the county but it still has to be approved by county commissioners. The Denton County Commissioners Court is expected to take up the amended agreement at a meeting in December, according to town documents. The county’s participation will also shrink to 60% over the five years if the amendments are approved by county commissioners.
Flower Mound officials have worked with P3 Works LLC to update the project and finance plan for the zone, which includes a cultural arts center. An amended and restated project and finance plan was presented to the town’s TIRZ No. 1 board in April.
Since April, Flower Mound officials acquired approximately 3.67 acres of land within the River Walk at Central Park development. This land was acquired to construct a cultural and performing arts center. Officials hope to create a central hub for arts, culture and creative programming with the facility.
Exploring the development of an arts center is recommended in the town’s 2018 Cultural Arts Master Plan. Town staff initially looked at a site off of Timber Creek Road for the facility but opted to find land in a more mixed-use setting, which brought them to the River Walk location.
What’s next?
With the extension approved, town staff will now initiate the design process, which could take at least a year. Public engagement will be included in the process. Construction on the arts center could begin in summer 2026 and finish in summer 2027.
