CITY Frisco to begin selling bonds for resident-approved projects
• The parking garage is expected to make up for any loss of parking once the city removes street park- ing from the downtown area. • Construction on Main Street to remove street parking is expected to begin in late 2023 and finish by the end of 2024, according to Fris- co’s capital improvement website. Keep in mind: The bonds approved May 6 are not the only ones being sold for city projects. City officials will also begin selling other preap- proved bonds, which, including the three sales from the May 6 bonds, total $129.5 million. • $10.5 million for Grand Park from 2006 • $11.08 million for City Hall from 2015 • $10 million for Grand Park from 2015 • $17.9 million to go toward public safety from 2019 • $25 million for roads from 2019 • $17.23 million for parks from 2019
BOND BREAKDOWN Frisco officials plan to sell a portion of the $473.4 million in bonds passed in the May election. February 2023: Frisco officials call the bond election May 2023: All five propositions pass during the May 6 election July 2023: City begins selling both the May 6 bonds as well as bonds approved in past elections
BY ALEX REECE
• Parks and open space projects named on the May 6 ballot included the Frisco on the Green Park, 4th Street Plaza and Buffalo Ridge Park. • Frisco on the Green is currently in its design phase, which is expected to finish in the beginning of 2024. • 4th Street Plaza, which will serve as a pedestrian path connecting downtown Frisco and events spaces, is expected to finish by late summer 2024, according to the city’s capital improvement dashboard. • Buffalo Ridge Park is also in its design phase and will not be finished until early summer 2024. One more thing: The final $2 million will be allocated to constructing a downtown parking garage. The project requested $20 million on the May 6 ballot.
Frisco residents will soon see early stages of the capital improvement projects approved during the May 6 bond election. The bond propositions totaled over $473 million and included public safety investments, street and road construction, parks, trails and open space, new city service facilities, and a downtown parking garage. The first $37.8 million of the bond package will be sold in July, city staff said via email. Diving deeper: The first $30.8 million will be for road construction and improvements, staff said. • The ballot item including road construction projects was for $240 million.
First May 6 bond sale
$30.8M: Road construction, improvements $5M: Parks projects $2M: Downtown parking garage
$37.8M 7.9% of total
May 6 bond total
$435.6M: Bonds to fund future projects $37.8M: First bond sale
$473.4M total
A closer look: The next $5 million will go to support parks, staff said.
SOURCE: CITY OF FRISCO/COMMUNITY IMPACT
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FRISCO EDITION • JULY 2023
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