Plano forms tax zone to generate up to $12.3M to build DART stations along Cotton Belt line

Plano Marine, the possible site of a new 380-unit apartment community, is located south of downtown Plano near a proposed rail station.

Plano Marine, the possible site of a new 380-unit apartment community, is located south of downtown Plano near a proposed rail station.

Two tracts of land near downtown Plano have been designated as a new tax increment finance, or TIF, zone with the anticipation it will generate millions in revenue for the construction of two new passenger rail stations in the area.

Plano City Council voted unanimously Dec. 18 to establish the new TIF zone, with one tract of land near a future station at the intersection of 12th Street and K Avenue and another near the future Shiloh Road station.

The zones will allocate 50 percent of the revenue generated by property tax revenue growth in the respective tracts of land for the future Cotton Belt line, Plano Special Projects Director Peter Braster said. Dallas Area Rapid Transit expects to begin construction on the future east-west-running line in 2019.

The TIF zone will end when its fund balance reaches $12.3 million or by the end of 2038—whichever comes first, Braster said.

Council Member Anthony Ricciardelli said he had initial hesitations about approving the formation of the new TIF zone, but he ultimately found it effective in reinvesting tax revenue into its respective zone.

“[The TIF zone] protects the city in the sense that DART serves many areas, and these funds that would be contributed through the TIF will be spent in the TIF zone,” Ricciardelli said. "Even though I still have trepidation about whether the cost benefit of the Cotton Belt project has been fully vetted, I think that these stations are certainly worth the $12.3 million that we could end up paying for it."

The DART board of directors voted unanimously Dec. 11 to approve an $815 million design-and-build contract with Archer Western Herzog for the Cotton Belt line. That revenue is anticipated to come from a loan from the federal government, which has yet to be disbursed.
By


MOST RECENT

Hospitals across the North Texas area are monitoring elective procedures after the region crossed a key state threshold for COVID-19 hospitalizations. (Courtesy Medical City Plano)
Many elective surgeries still on schedule in North Texas despite new COVID-19 restrictions

For now, many elective procedures are expected to go on as planned despite the new restrictions.

Restaurants, bars and some other businesses in North Texas will face a familiar slate of heightened restrictions after the region exceeded Gov. Greg Abbott’s threshold for COVID-19 hospitalizations. (Courtesy Adobe Stock)
COVID-19 causes bar closures and more DFW news

Read business and community news from the Dallas-Fort Worth area.

Stacy Wright is the president of Stacy's Sensory Solutions in Plano. (Olivia Lueckemeyer/Community Impact Newspaper)
Mother's desire to help families cope with various disorders at the heart of Stacy's Sensory Solutions in Plano

Stacy’s Sensory Solutions, located off Coit Road in Plano, offers stylish, customized products to help children and their families deal with various disorders, such as autism, anxiety, attention deficit hyperactivity disorder and more.

The dental practice will offer a variety of services ranging from emergency care to wisdom teeth extraction. (Courtesy Fotolia)
After Hours Urgent & Complete Dentistry coming soon to Plano

The office is open in the evenings and provides a range of dental services.

The food hall adjacent to the Frisco Fresh Market will open in early 2021. (Elizabeth Uclés/Community Impact Newspaper)
Future Frisco food hall to be ‘pandemic-proof’ and more top news from the DFW area

Read the most popular stories from the past week from the Dallas-Fort Worth area.

Restaurants, bars and some other businesses in North Texas will face a familiar slate of heightened restrictions after the region exceeded the Gov. Greg Abbott’s threshold for COVID-19 hospitalizations. (Courtesy Adobe Stock)
Bar closures, tighter business restrictions triggered in North Texas by COVID-19 hospitalizations

Restaurants, bars and many other businesses will face heightened restrictions after North Texas exceeded the governor’s threshold for COVID-19 hospitalizations.

Texas Gov. Greg Abbott announced Dec. 2 that the Centers for Disease Control and Prevention has allotted 1.4 million doses of the COVID-19 vaccines to the state of Texas. (Courtesy Adobe Stock)
First allotment of COVID-19 vaccinations expected to arrive in Texas in mid-December

About 1.4 million doses of the COVID-19 vaccines have been allotted to the state of Texas and will arrive the week of Dec. 14.

The facility, located at 5560 Tennyson Parkway, Ste. 100, includes office space, conference rooms, a video and photo studio, and a shaded outdoor courtyard. (Courtesy Versatile Imaging)
Ebby Halliday moves headquarters to Legacy Business Park in Plano

The 17,000-square-foot, state-of-the-art facility is half the size of the former headquarters and puts a renewed focus on employee collaboration, per the release.

The new Children's Advocacy Center of Collin County facility is expected to open in fall 2020. (Courtesy Children's Advocacy Center of Collin County)
Children's Advocacy Center of Collin County to open new facility in McKinney

The need for the 40,000-square-foot facility comes from the projection that the number of children in the county will triple over the next 25 years.

Roughly 100 members drove along a cone-lined path of city staff and council members bearing signs and smiles before opening their trunks for a staff-made, packaged meal at a Nov. 18 Thanksgiving event. (Liesbeth Powers/Community Impact Newspaper)
Plano's Sam Johnson Recreation Center innovates to keep members engaged during closure

The center closed its doors due to the coronavirus pandemic three days short of its one-year anniversary of reopening after major renovations. Since then, the center's staff has dedicated themselves to reaching members in creative ways.

Here are the latest coronavirus case count updates in Plano. (Community Impact staff)
Tracking COVID-19 in Plano: Where cases, hospitalizations stand after Thanksgiving

Hospitals in Collin and Denton counties continued to see elevated levels of coronavirus patients following the Thanksgiving holiday.

The Texas Higher Education Coordinating Board has launched a campaign to address declining college enrollment numbers across the state since the pandemic started. (Courtesy Pexels)
Texas Higher Education Coordinating Board launches campaign to boost college enrollment

The decline in college enrollment across the state of Texas has prompted several agencies to partner up and create online resources for students and counselors.