Frisco | October 2024

Government

BY ALEX REECE

Fourth Street Plaza construction begins

Frisco’s FY 202425 budget updates tax rate, utility fees Frisco’s budget for scal year 2024-25 includes a lower tax rate as well as raises for its employees and additional funding across multiple departments. Frisco City Council members approved a $273.42 million general fund budget and a $0.425517 per $100 valuation property tax rate during a Sept. 17 meeting. The overview The city’s $0.425517 per $100 tax rate will be allocated toward: • $0.283406 per $100 valuation to mainte- nance and operations • $0.142111 per $100 valuation to interest and sinking, which pays back city debt

Construction zone

Construction on Frisco’s Fourth Street Plaza is underway and projected to nish in 2026. Frisco City Council members approved an $18.72 million contract for construction and continued design of Fourth Street Plaza, a roughly two-acre outdoor pedestrian plaza nestled between Oak and Elm streets, during a Sept. 4 meeting. Construc- tion later broke ground in mid-September. Included in the contract total is a $500,000 contingency fee, according to meeting documents. The details The contract includes advancing construction to the next steps and continuing the design of the plaza, according to meeting documents. The design has been consistent with what was rst approved in the city’s 2018 downtown master plan update, which will be used for the nal product before construction starts.

Key features of the plaza include: • Rail-themed public gathering place

• Shaded rail-themed paths • Outdoor performance stage • Large lawn with open seating • Public restroom facility • Gathering areas with outdoor furniture and seating Plaza construction is anticipated to nish in spring 2026.

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