Plano leaders unanimously voted 8-0 to pass a plan to bring one of the area’s biggest pro sports franchises to the city.
The proposal includes a new Dallas Stars arena and entertainment district. It is a big vote — but not the final buzzer.
Council members unanimously approved the Letter of Intent on Monday night, keeping Plano in the running as a future home for the Dallas Stars. It does not guarantee that an arena will be built, but it moves negotiations and planning into the next phase.
According to city documents, the proposal would transform The Shops at Willow Bend into a massive sports and entertainment destination.
Plans call for retail, restaurants, public gathering spaces and a new arena that would serve as the centerpiece of the development.
The project carries an estimated price tag of roughly $1 billion for the arena, but the entire complex and district would cost an estimated $3 billion.
Under the proposed agreement, the City of Plano could contribute up to $700 million through a Tax Increment Reinvestment Zone and other available funding sources.
The proposal comes at a pivotal moment for the franchise.
The Stars’ lease at American Airlines Center expires in 2031 and both the Stars and the Dallas Mavericks have confirmed that they are exploring new long-term homes.
If this project ultimately becomes reality, it would mark a historic shift: the first time the Dallas Stars would play their home games outside the city of Dallas.
Monday night’s vote is not a final approval of the arena itself, but it could be a major milestone in determining where the Stars call home for decades to come.
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‘ Some details of this article were extracted from the following source www.cbsnews.com ’
