Plano’s school district is “joining the city in helping fund a proposed arena” for the Stars at The Shops at Willow Bend site, according to Lilly Kersh of the DALLAS MORNING NEWS. Approved by the school board over the summer and by Plano City Council on Monday night, the agreement “allows the Plano Independent School District to contribute tax revenue to the project.” Stars President & CEO Brad Alberts said, “We’re committed to doing extensive work with the PISD. It’s going to be way more than just having a few graduations over at the arena, and a lot of that’s going to get worked out over the next five years.” In August, the school district’s board of trustees voted to join the nearly 900-acre tax zone and cap its total commitment at $250M or at 25 years. The district “agreed to contribute half its captured tax increment each year as part of the agreement.” Deputy Superintendent Johnny Hill said that the district projects a $44.8M deficit in the next fiscal year’s budget. Plano Independent School District Board President Lauren Tyra said at a work session in June the investment is going to “flow back into the district,” adding it is “a massive win for the district and a massive win for students” (DALLAS MORNING NEWS, 10/14).
