Plano City Council on Dec. 9 approved an expansion of the public improvement district that collects fees from downtown Plano property owners to pay for festivals, marketing and beautification projects that promote business in the city’s historic downtown area.
Thirty-seven new properties would join the Downtown Plano Public Improvement District on Jan. 1 as part of the change. This would result in about $12,000 of additional revenue each year, Plano Director of Special Projects Peter Braster said.
The new properties extend the district to the east—where InTown Homes recently announced plans to develop the former First Baptist Plano property with townhouses—and south to the site of the proposed 12th Street rail station.
The city created the downtown district in 2014 in an effort to bolster investment in public improvements and various services, according to city documents.
The city renewed the district in late 2017. The PID was set to end at the end of 2017 if it was not renewed.
City staff said in a memo that the property owners who were added to the district this week had already been “actively participating” in downtown Plano events and organizations.
All private properties within the public improvement district pay an annual assessment of $0.15 per $100 of property valuation. The city pays $50,000 a year in place of assessments on its properties.
