[{"_1":2,"_88":-5,"_89":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6263962,"mediaKeyId","3099813-3aef32152f66b5ac9b43d5be7e5ecb05","parentId",3099813,"title","Prosper ISD outlines shared role in proposed Frisco performing arts center; Frisco voters must approve two propositions","audioSeconds",412,"startMs",4388000,"endMs",4800000,"viewUrl","/Search/View?dp=1&key=3099813-3aef32152f66b5ac9b43d5be7e5ecb05&start=4388&end=4800","thumbnailUrl","https://assets.pipeline.soar.com/3099813-3aef32152f66b5ac9b43d5be7e5ecb05/thumbnail_4388000.jpg","articleUrl","/articles/6263962/Texas/Prosper-ISD-outlines-shared-role-in-proposed-Frisco-performing-arts-center-Frisco-voters-must-approve-two-propositions","mediaUrl","https://secure.pipeline.soar.com/6263962-065d0ceabdafdc814cab4de2de5a0c90/orig.mp4?Expires=1770437867&Signature=PTUBevXCtS91FgomkF2csyRza~11Db5U-FjWty-A0uj9FykGnLhyUS8VBMRDWthLrzC9GYf~h8Kakurn0Igq9XXrD-aL1vtjMA3jXaqhfPYiLaPPnKlj0zvep1e8bdPuUPwKfwnoIHfSIE3VNAl5de1kDrovvd1iHL8ykIUwaP6KfiSq30DJrE11dNnmyT71NKra0x3G8ZkaYaahwBDL4WyIHmCt5w5ejfB~-SzkslPZAgeK3qX5qzjpJvfPRr9LjdhP9byTMJcEgNs9rVJwttKqdccfKto52SoifBz0~zFOmsCettwSVPArLxmrQ0TJ58dYPz0IUrTGF1ydvvMv2A__&Key-Pair-Id=KUT5TJCACFTXG","author","Prosper ISD","date","2025-04-23T21:06:59.55Z","article","During the April 22 Prosper ISD board meeting, district staff presented details of a proposed shared performing arts center the district is planning in partnership with the City of Frisco. The presentation described a large, two-hall facility intended to serve both district needs and regional performing arts programming if city ballot measures pass in Frisco.

Dr. Bradley, presenting the informational report, told trustees the district’s 2023 bond includes authorization for up to $125 million for a performing arts center. The overall project concept laid out by the city and consultants estimates a total project cost of about $340 million, with the City of Frisco proposing roughly $160 million in city debt and economic-development contributions, and private corporate and individual gifts of $50–$60 million each projected to close the funding gap.

The proposed site is on land the Frisco Economic Development Corporation controls at the southwest corner of the Tollway and Highway 380 (near the Cinemark). Under the plan the city would own the facility; the district would have long-term access and a first right of refusal for school programming. Dr. Bradley described two main performance spaces in the design: a “community hall” (described in the presentation as a roughly 300–400-seat flexible black‑box style space with adjacent classrooms for daily student use) and a 2,800-seat Broadway-scale hall intended to host large touring productions.

Dr. Bradley emphasized educational opportunities the district expects: ongoing student internships, front-of-house and back-of-house vocational experiences, and daily uses by district ensembles and classes. He said an independent, third‑party operator would run the facility; the board heard the operator selected through the city’s process is a nonprofit called Frisco Live, which brings national Broadway touring experience and local producing partners.

Timing and voter role: The city of Frisco placed two related propositions on the May 3 ballot: Proposition A would authorize the use of economic development corporation (Type A EDC) sales-tax funds for the project, and Proposition B would authorize the city to issue debt not to exceed $160 million. Dr. Bradley said both propositions must pass in Frisco for the project to advance. In response to a trustee question, he said the propositions do not raise Frisco city property taxes as written on the ballot materials.

Costs, ownership and operations: Dr. Bradley said the project team has modeled how many dates the district might reserve for school use and noted that students would use the facility daily for instruction even if large events occur on other dates. The city would own the building; a facility operator would be under an “operator at risk” structure so event revenues and bookings would support operations. The presentation included schematic images from design architect Pelli Clarke, a timeline that projects occupancy no earlier than 2030 if the project proceeds, and site analysis details including traffic and acoustical studies.

Next steps: The board heard the informational briefing and did not take formal action. Dr. Bradley and City of Frisco staff said they will continue public outreach; the presentation noted community information tables and scheduled outreach events where residents can ask questions about the ballot measures, project uses and timelines.","mediaType","Video","parentTitle","Prosper ISD School Board Meeting April 22, 2025","oneSentenceSummary","District staff presented plans for a shared performing arts center developed with the City of Frisco. The district would commit up to $125 million from the 2023 bond authorization; Frisco voters must approve two city propositions for the project to proceed.","taxTitle","PROSPER ISD, School Districts, Texas","taxId",14325,"location","Texas","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6263967,"Prosper ISD board approves remarketing of 2022 adjustable-rate bonds and authorizes $300 million bond sale",1285,4113000,5398000,"/Search/View?dp=1&key=3099813-3aef32152f66b5ac9b43d5be7e5ecb05&start=4113&end=5398","https://assets.pipeline.soar.com/3099813-3aef32152f66b5ac9b43d5be7e5ecb05/thumbnail_4113000.jpg","/articles/6263967/Texas/Prosper-ISD-board-approves-remarketing-of-2022-adjustable-rate-bonds-and-authorizes-300-million-bond-sale","https://secure.pipeline.soar.com/6263967-c770febd6ef146e17c0c430c1231633c/orig.mp4?Expires=1770437867&Signature=i9sT0aOuFnzrdtDsVc40tymSqwoqztIvX0kn0Vrr8ghUn-yP~jZgzilhL~4LnJhuiIeb7wtocvY2SuC0KQKESih4cxAYAJf~LP-jBhW1oIO4v9qBl9Ho9hNW9eFjWDFJ5FxTEg7sJm~bfqz43-Sj1g4eX0ulHF988QAbGVy2zr2QxZv2XQhAGM72Eeiie0LRE7Iju1X~lAY0Q7rYxFXdwsTnHbQpmqk~q987TXwvjQi4mKbri3dMX8nJLqO2P77odWEalfo-4YgnECKHcW0Uyv0WL-iGzGnjYMo9r8bHSoNxmYF7jBj7Sr2UtxrUXLdLpXzyR7j32EVVkVsixjpf4w__&Key-Pair-Id=KUT5TJCACFTXG","The Prosper Independent School District Board of Trustees on April 22 approved two financing steps intended to keep the district’s construction program funded. Trustees unanimously authorized the remarketing of the district’s adjustable-rate school building bonds series 2022 and approved an order authorizing the issuance of up to $300 million in unlimited-tax bonds tied to the February 2025 proposition A authorization.

Finance director Mr. Witt told the board the municipal market has been volatile in recent weeks and that the district’s financing plan balances short-term adjustable-rate pieces with larger fixed-rate issuance. “We do have some volatility in our market,” Mr. Witt said as he reviewed national municipal indices and local bond-rate comparisons.

The board’s authorization delegates final pricing and document execution to district staff so the district can move on a timetable tied to market conditions. Witt told trustees the district expects to price the $300 million sale in summer and close before early July if market conditions allow. The district will use a combination of newly issued bonds and some interest-and-sinking fund balance to smooth cash flows while construction continues.

Why it matters: Prosper ISD is in an extended capital-construction period funded by previous bond programs (2019 and 2023) and the board’s action makes additional funds available for campuses and supporting infrastructure. Witt said the money could be used for new campus construction, campus additions and renovations, the administration and staff center, transportation, safety and security, and technology infrastructure.

Witt described key legal and financial constraints the district must meet before issuing bonds, including what he called the district’s requirement to “pass the 50¢ test.” That test, he said, is part of the analysis required to demonstrate the district’s ability to pay debt service within Texas law when issuing unlimited-tax bonds.

On a technical point, the board also approved remarketing of two smaller adjustable-rate bond pieces that the district had previously issued. Witt said those variable-rate pieces represent a small portion of the district’s overall portfolio and that the district intends to keep them in variable-rate mode for now, with normal reset schedules and mandatory tender dates. He noted the remarketing/reset process for the series 2022 piece follows a specific calendar that includes a mandatory tender date in mid-August.

Motion and vote: Trustee Tommy Van Wolf moved to approve the order authorizing the remarketing of the district’s adjustable-rate unlimited-tax school building bonds, series 2022; Trustee Garrett Linker seconded. The motion carried on a recorded board vote of 7–0. Trustees then moved and approved the order authorizing issuance of unlimited-tax bonds establishing sale parameters for the planned $300 million issuance; that motion also passed 7–0.

What trustees said: Several trustees thanked staff for the work and the finance committee for reviewing options before the meeting. Trustee Van Wolf moved the remarketing item, and Trustee Linker seconded; during discussion Trustee David Webb and others praised the administration and finance team for due diligence.

Timing and next steps: With board authorization, staff will continue with the plan of finance and timing will depend on market conditions. Witt said the district expects preliminary pricing work in mid‑summer and potential closing ahead of July 4, but that schedule could change if market volatility requires it. The district will also proceed with the scheduled reset/remarketing mechanics for the adjustable-rate pieces later this summer.","At its April 22 meeting the Prosper ISD Board of Trustees unanimously approved a plan to remarket a portion of the district's adjustable-rate bonds and authorized issuing up to $300 million in unlimited-tax bonds to fund ongoing construction and campus projects.","actionData","errors"]

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Prosper ISD outlines shared role in proposed Frisco performing arts center; Frisco voters must approve two propositions

Prosper ISD board approves remarketing of 2022 adjustable-rate bonds and authorizes $300 million bond sale