Plano City Council unanimously approved a major funding plan Monday night that commits $700 million in public money toward a new Dallas Stars arena and entertainment district at the Shops at Willow Bend site.
The 8-0 vote advances a non-binding letter of intent with the NHL team for a roughly $1 billion arena as the centerpiece of a larger $3 billion redevelopment project. The funding comes through a tax increment reinvestment zone (TIRZ) that captures future tax revenue growth from the Dallas North Tollway corridor without raising property taxes. The city would own the arena, with the Stars entering a 30-year lease.
Plano leaders approved several related items after more than an hour of public comment, including an incentive agreement with developers and a resolution for a potential venue tax election. The project aims to transform the long-struggling mall into a vibrant sports and entertainment hub with retail, restaurants, public spaces and high-rises. Construction could begin as early as 2028, with the Stars targeting a move from American Airlines Center in Dallas by 2031.
Stars owner Tom Gaglardi thanked Mayor John Muns and the council, saying the team looks forward to making Plano its new home. Officials highlighted the potential economic boost for the area, while some residents raised concerns during the meeting about traffic, parking and the use of public funds.
The decision marks a significant step for Plano to land its first major league sports team. It also intensifies questions about the future of downtown Dallas venues as both the Stars and potentially other teams consider moves.
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