Public Information Office
210 S. McDonald St. Suite 540
McKinney, TX  75069

FOR IMMEDIATE RELEASE

CONTACT: Leigh Hornsby, Public Information Officer
972-548-4772
publicrelations@co.collin.tx.us

April 1, 2003

Commissioners' Court approves "multiple win" agreement to help spark economic development in Collin County

(McKinney, TX) -- Collin County's Commissioners' Court has approved what is described as a "multiple win" agreement aimed at bringing soccer fans into the county, improving the county infrastructure and providing a safe, sporting venue for children. The Commissioners' Court approved an amendment on Friday to a Tax Increment Financing District (TIF) agreement with the city of Frisco. The amendment extends the TIF at Stonebriar Mall to include the area around and including a proposed soccer stadium near Main Street and Dallas Parkway.

"This is a win, win, win, win agreement," says Collin County Commissioner Jerry Hoagland, who has worked several years to bring soccer to the county. "This is definitely a spark for economic development, and it will provide a safe place for children to have fun."

Collin County Commissioner Phyllis Cole is confident that families from throughout the U.S. will flock to the area for tournaments and other sporting events. "My interest is the venue for youth soccer. Families will travel to Collin County for soccer games, stay for a day or two and enjoy our restaurants, hotels and retail outlets. Locally, families will be able to enjoy Frisco high school football at the site."

The initiative will not only help provide children with access to sports complexes; it also enhances the tax district, which was created in 1998. If approved by all organizations involved, the amendment enters the county into a 20-year agreement with the city of Frisco, the Frisco Independent School District and Hunt Sports Group.

The county is currently paying half of its revenue from future property taxes in that district toward the initiative. As a result of the amendment agreement, that amount would eventually increase to 80-percent with a $2 million cap.

According to Commissioner Joe Jaynes, the expansion of the TIF agreement will bring in another $6 million in revenue, which will be used for roads and infrastructure in that area. "This is one reason why the malls and the surrounding roads were built so
quickly," says Jaynes when referring to the initial TIF. "Furthermore, secondary development outside the TIF, such as hotels and restaurants, will generate more revenue for all the county than what the county is putting back into the TIF."

"We are basically adding $6 million in rebated taxes to the district over the next 20 years," says Collin County Judge Ron Harris. "This money will allow roads and public soccer fields to be completed. And, the roads that are created as a result of this agreement will serve the region, which is one of the fastest growing areas in the nation."

Harris also believes that by approving the TIF amendment, the need for bond programs in that area will decrease. "The county's participation in the TIF reduces the potential need for county bonds in the boundaries of the TIF."

Jaynes says the Commissioners' Court had a choice. "We could have done nothing with that area, which would have lead to the construction of more homes and a greater tax burden for residents. We could have given them a handout. Or, we could have an agreement where we partner with the complex to pay for itself with all entities earning more in the long run than if we were not part of the district, at all. We opted for the most progressive choice."

Collin County Commissioner Jack Hatchell says the Commissioners' Court has discussed the TIF amendment in detail. "In the end, we know that this project will not only benefit the district, but it will also serve residents of the county and the region."

The proposed 20,000-seat stadium is expected to become the new home for the Dallas Burn, which is a professional soccer franchise. The plan also calls for the development of a 144-acre site, complete with 16 soccer fields that are projected to serve nearly 294,000 visitors through various events each year.