The Frisco City Council on Jan. 19 approved $122.75 million in incentives for infrastructure improvements for Wade Park, the mixed-use development under construction on the southeast corner of the Dallas North Tollway and Lebanon Road.

According to city documents, the funding will be paid from revenue generated by the proposed development and are only paid as the city collects taxes.

In return, Wade Park has agreed to deliver by Dec. 31, 2017:

550,000 of retail, entertainment, hotel and restaurant space

An office building with at least 16 stories and 400,000 square feet

75 percent (or 9,500 parking spaces, whichever is less) of all parking for commercial uses must be structured and/or podium parking

Design and construction of the project as a walkable development with multiple restaurants that include indoor and outdoor patio dining and water features

The Frisco Community Development Corp. also approved the agreement and the Frisco Economic Development Corp. will consider it at a Jan. 21 meeting.