The city of Plano has pledged millions of dollars toward the proposed Cotton Belt passenger rail project in an effort to ensure the project includes three stops in Plano.
Plano City Council on Monday approved the terms of an interlocal agreement with Dallas Area Rapid Transit regarding the proposed Cotton Belt passenger rail project. According to the agreement, the city would establish a new tax increment financing, or TIF, zone to dedicate up to $12.3 million to the project—although the TIF itself would need to be approved in a future council vote.
The city vote at a regular meeting Monday came on the eve of a DART board meeting in which members were expected to determine the locations and number of stations in the project.
City Manager Bruce Glasscock said the new TIF would help convince the DART board to approve three Plano stations: one at Shiloh Road, another at 12th Street and a third connecting Cotton Belt line DART's north-south Red Line.
The interlocal agreement with DART passed with the approval of five of the council's eight members. Rick Smith and Tom Harrison voted against the measure, and Anthony Ricciardelli abstained from voting.