An agreement between Plano and Plano ISD could see the school district contribute up to $250 million toward the tax increment reinvestment zone, or TIRZ, for the proposed Dallas Stars arena.
Plano council members approved an interlocal agreement with PISD during the Oct. 12 meeting.
Breaking it down: In June, Plano officials created a nearly 900-acre TIRZ, which is a mechanism to fund improvement projects within a defined area through tax revenue growth. PISD’s contribution to the TIRZ under the agreement is capped at $250 million, with the school district contributing 50% of maintenance and operations collections each year.
The agreement does not change the boundaries of the TIRZ or the city’s planned $700 million contribution toward the arena.
Some context: PISD trustees approved participation in the TIRZ in June, citing potential revenue benefits that could be reinvested into the district.