BY ALEX REECE
Funding the project
What comes next?
Reinvestment Zone, or TIRZ. A TIRZ captures growth in property tax value. Taxes generated from the TIRZ’s captured value can only fund improvements for the properties inside its boundaries. Toyota Stadium is located in Frisco’s TIRZ No. 1. Council members on Oct. 15 amended the city’s TIRZ No.1 ordinance to add the stadium improve- ments and widen the zone’s boundaries to over 3,500 acres for new FISD properties, which the TIRZ also helps fund maintenance for.
Long said half of the major league sports venues in the U.S. and Canada, of which a majority are still proposals, are associated with mixed-use projects. “There’s a reason why teams do it, which is to try to extend their revenue generating and revenue capture potential,” Long said. Paying for Toyota Stadium’s improvements involves contributions from its public-private partnership members. The FCDC and Hunt Sports Group are contributing a combined $105 million with the rest coming from a city Tax Increment
Toyota Stadium sees almost 2 million visitors every year, Smith said. “We did an economic impact study for the last 20 years, and it’s over $1.5 billion,” he said. “I expect that to double over the next 20 years [from the renovations].” Smith said FISD uses Toyota Stadium the most. The renovation schedule was designed with the district’s student- athletes in mind to allow them to continue playing, he said. “For them to have their home as well, whether it’s their high school soccer or high school football, for them to continue to play those matches…that’s been very important for us and for the city,” Smith said. Included in the city’s Sept. 17 partnership update was a Dec. 31, 2028 deadline to finish all of the stadium improvements. Smith said once renovations are finished, Toyota Stadium will be one of the best soccer-specific stadiums in the country. Chase Futrell, an FC Dallas fan who attended the team’s last home game on Oct. 19, said while the renovations will take a while, the end result—including new shade covers, which are listed in the improvement plans—will be nice to see. “All of us at FC Dallas are excited for our fans, partners and players to experience this state-of-the-art facility,” Hunt said in a Sept. 17 news release.
Who owns what?
ALL STARS AVE.
Ownership of the land surrounding Toyota Stadium is split between some of the partnership members.
Map key
Mixed-use district site City of Frisco stadium and soccer center land
City of Frisco mixed-use land Hunt Sports Group mixed-use land Frisco ISD soccer center land
DNT TOLL
TECHNOLOGY DR.
Field space
Project budget Frisco Tax Increment Reinvestment Zone
No. 1: $77M Hunt Sports Group: $65M Frisco Community Development Corporation: $40M
Toyota Stadium
Total $182M
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SOURCE: CITY OF FRISCO/COMMUNITY IMPACT
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