Council approves LOI with Frisco Live to operate proposed Frisco Center for the Arts; one councilmember objects

Frisco City Council voted 5-1 on April 1 to approve a letter of intent (LOI) with Frisco Live, a nonprofit operator backed by Broadway Across America/John Gore Organization and Broadway Dallas, to manage the proposed Frisco Center for the Arts and to finalize an operator agreement should the project move forward.

The LOI commits Frisco Live and its backers to a $4 million capital contribution toward the project (with $2 million due within 180 days of schematic design and a further $2 million one year before construction completion) and frames an operator-at-risk business model. The city will provide a one-time operational start-up reserve of up to $6,000,000 and a one-time maintenance start-up fund not to exceed $1,000,000, both of which staff said would not come from the general fund.

Why it matters: The LOI is a key dependency for a potential May ballot measure and is intended to show voters that a local operator and national presenting partner are committed if the city approves the project. The LOI does not by itself authorize construction;…