Bond election scheduled for May: Package would focus on roads, parks and recreation

Street improvement projects make up nearly half of the $98.3 million bond package that Plano residents will vote on in May.

The projects in the package were finalized at Monday's City Council meeting after several months of gathering input from residents and city staff. In addition to street improvements, bond money has also been set aside for parks and recreation as well as economic development. The city's last bond election was in 2009.

The tax impact on Plano residents is lessened because existing debt is coming off the books, said Karen Rhodes-Whitley, director of budget and research for the city. The average homeowner in Plano, with a $243,000 home, is projected to see their tax bill increase $12.93 per year, she said. The net increase of the city's tax rate will be $0.66 if all portions of the bond package are approved.

"Back in 2009 when we went out to the voters we said there would be anywhere from 4 to 5 cents that may be required, so we are down under a penny due to the fact we are paying off all those tax notes," Rhodes-Whitley said. "This is a very good position to be in."

The $43.8 million set aside for street improvements will be supplemented by an additional $17 million in funding from outside sources including Collin County, the federal government and regional toll revenue. Of the $61 million in total funds, $5.2 million is earmarked for intersection improvements, $4 million will go toward bridge inspection and repair, and $8 million is set aside for general street reconstruction and improvements.

Specific streets throughout the city have also been targeted for improvements, including Legacy Drive, Parker Road, two portions of 18th Street and multiple streets inside the Dallas North Estates.

Other projects that would be paid for with bond money include renovations to the pool at Jack Carter Park ($7.5 million), the expansion and renovation of Liberty Recreation Center ($2.5 million), the renovation of the High Point Tennis Center ($2.5 million) and the construction of recreational trails throughout the city ($8 million). Improvements to Oak Point Park and Nature Preserve and other city parks are also planned ($13 million).

The final component of the bond package is $15 million for economic development, an item Deputy City Manager Frank Turner said was important for the continued development of the city.

"Public incentives through the development of infrastructure, the reworking of streets and sidewalks and various amenities has been instrumental in the redevelopment of downtown Plano," he said. "In that particular instance we have had the good fortune of a tax increment finance district that has allowed the funding of those improvements. But there are certainly other areas of our city that could benefit from reinvestment and redevelopment."

Turner said the $15 million would be directed toward older commercial properties and apartment complexes.

The final proposition will ask voters to revoke $14.2 million in unsold bonds for The Arts Center of North Texas. The project, which was known as the Arts of Collin County until 2011, is jointly owned by the cities of Allen, Frisco and Plano. Frisco voters revoked their city's bond authority in May 2011, beginning the path that has led to discussion of dissolving the project and splitting up the assets between the three cities.




Bond proposals

Prop 1: $43.8 million for street improvements

Prop 2: $27 million for park improvements

Prop 3: $12.5 million for recreation center improvements

Prop 4: $15 million for economic development

Prop 5: Revocation of $14.2 million in bonds for The Arts Center of North Texas

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