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Plano says $97 million in public funds helped Collin Creek redevelopment; private investors covered most costs
Summary
City of Plano officials described roughly $97 million in public funding — about 10% of the project — used to support the Collin Creek redevelopment, with private investment covering the remainder of the roughly $950 million project. Public tools included a tax increment reinvestment zone, two public improvement districts and drainage bonds.
City of Plano staff said the Collin Creek redevelopment — which includes a 2,000‑space underground parking garage on the site of the former Collin Creek Mall — has received about $97,000,000 in public funding, roughly 10% of the project's total cost, with private investors financing the remainder.
The city used a tax increment reinvestment zone to capture revenue growth at the site and created two public improvement districts, one for commercial development and one for residential development, to help pay for streets, sidewalks and utility infrastructure. City staff said the city also issued $28,000,000 in drainage bonds to rehabilitate…
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