What happened
At its July 22 meeting, Prosper Town Council heard a final presentation on proposed investments for the November bond from town staff and the 2025 bond election committee.
With no additional recommendations, council members are expected to vote at their Aug. 12 meeting to place the bond—which would not increase tax rates—on the November ballot ahead of the Aug. 18 deadline.
Zooming in
The $183.8 million proposed bond includes funding for infrastructure, public safety and community amenities, including:
- $84.3 million for street and road project improvements
- $34.2 million for a new library facility
- $29 million for police headquarters improvements
- $24 million for parks and recreation facilities improvements
- $10 million for a public works and parks service center
- $2.3 million for preservation and renovation of three historic downtown silos
Director of Engineering Hulon Webb said the proposed bond will focus on nine street improvement projects and two roundabouts, including:
- $12 million: Prosper Trail from Teel Parkway to Legacy Drive
- $10.5 million: First Street from Craig Road to Coleman Street
- $10 million: Prosper Trail from Legacy Drive to Dallas North Tollway
One more thing
One priority in the bond package is relocating and expanding Prosper’s public library, which currently shares space with Town Hall.
Library Director Gary Landeck said the library saw an increase in new members and attendance in 2024, demonstrating a need to expand the library’s capacity as the town continues to grow.
“Town Hall needs the space, [and] its own staff is growing," Landeck said. “The library was never intended to stay in the space it was in. We’re trying to get ready for the future.”
Town staff adopted a new Library Master Plan earlier this year, which helped guide priorities for the new facility, including directing funding toward:
- Dedicated areas for children and teens
- Study and meeting rooms
- Innovation labs and spaces
- Outdoor and quiet areas
In September, Town Council created a bond committee to identify key capital improvement projects that should be included in the proposed bond.
Scott said the proposed bond is a “no tax rate increase” bond election, meaning it will not raise the town’s current tax rate.
“We start with 18 cents of debt service rate, and we end with no more than 18 cents of debt service rate,” Scott said. “We rely on assessed valuation growth, either through new citizens, new construction or increases in assessed valuation, and paying off the old debt.”
What’s next?
Prosper Town Council is scheduled to vote on the bond election at its Aug. 12 meeting. If approved, the bond will appear on the Nov. 4 ballot.
