08.08.23Welcome to the August 8, 2023,
Prosper Town Council Meeting
Call to Order/Roll Call
Invocation, Pledge of Allegiance, and Pledge to the
Texas Flag
Pledge to the Texas Flag
Honor the Texas flag; I pledge allegiance to thee,
Texas, one state under God, one and indivisible.
Announcements
Consent Agenda
Agenda Item 1.
Consider and act upon the minutes from the July 25, 2023,
Town Council Work Session meeting. (MLS)
Agenda Item 2.
Consider and act upon the minutes from the July 25, 2023,
Town Council Regular meeting. (MLS)
Agenda Item 3.
Consider acceptance of the January, February, and March
2023 monthly financial reports. (CL)
Agenda Item 4.
Consider and act upon authorizing the Town Manager to
execute a contract between DAC Inc. and the Town of
Prosper, Texas, for security improvements to entryways at
Town Hall. (CE)
Agenda Item 5.
Consider and act upon a Façade Plan for a Drive-Through
Restaurant, on 1.1± acres, located south of East First
Street and west of South Preston Road. (The property is
zoned Planned Development-67 (PD-67) Gates of Prosper.)
(DEVAPP-23-0011) (DH)
Agenda Item 6.
Consider and act upon a Façade Plan for a Hotel, Limited
Service, on 2.7± acres, located on the southeast corner of
Lovers Lane and South Coleman Street. (The property is
zoned Planned Development-67 (PD-67) Gates of Prosper.)
(DEVAPP-23-0105) (DH)
Agenda Item 7.
Consider and act upon an ordinance to rezone for a Specific
Use Permit (SUP) for Temporary Buildings on 8.2± acres,
located north of US-380, west of South Teel Parkway. (ZONE-
23-0009) (DH)
Agenda Item 8.
Consider and act upon whether to direct staff to submit a
written notice of appeals on behalf of the Town Council to the
Development Services Department, pursuant to Chapter 4,
Section 1.5(C)(7) and 1.6(B)(7) of the Town’s Zoning
Ordinance, regarding action taken by the Planning & Zoning
Commission on any Site Plans including Prosper Town
Center, Hall Elementary Temporary Buildings, Dutch Bros,
PISD MS #6, Cracker Barrel, Home 2 Suites, One Community
Church, St. Martin De Porres Temporary Building, St. Paul
Episcopal Church, and 205 W. Broadway. (DH)
Citizen Comments
Regular Agenda
Pursuant to Section 551.007 of the Texas Government Code,
individuals wishing to address the Council for items listed as public
hearings will be recognized when the public hearing is opened.
Agenda Item 9.
Conduct a public hearing and consider and act upon a
request to rezone 34.7± acres from Commercial District (C) to
a new Planned Development for Mixed Use, located northside
of Prosper Trail and west of Dallas Parkway. (Z22-0019) (DH)
Planned Development Standards
1.Triggers regarding townhomes, retail building and street section.
2.A property owner’s association (POA) shall be approved by town staff.
3.Created separate definitions and requirements on apartments and condominiums.
4.Revised the required percentage of non-residential on the first floor within the
highway subdistrict and specifically requires retail uses to encourage vibrant uses
within the mixed-use development.
5.Setback on Apartment buildings
6.Uses and standards in conformance with Dallas North Tollways Design Guidelines
7.The applicant reduces the density from 830 units to 730 units and specifically calls
out allowance on apartments and condominiums (for sale product).
8.Minimum heights for certain uses
9.Provided architectural standards and design guidelines.
10.Minimum and maximum density for Townhomes
With this zoning request 730
units may be added to bring
the total number of units to
6,990 units.
Majority of those units are
along the Tollway.
Triggers – The applicant has proposed the following triggers:
•The development of the entire townhomes (at least 42
townhome units) in the Neighborhood Sub-District will have
certificates of occupancy prior to commencing work within the
Highway Sub-District.
•The development of one minimum retail building as identified
on Exhibit D.2 as either Lot 4 or Lot 2, Block 1 shall have
completed slab construction prior to commencing any other
work in Highway Subdistrict.
•Street Section D, as shown on Exhibit D.3, shall be built with
Block D, Lots 1 and 2.
One minimum
retail building
Building Height
The maximum building height allowed by the Zoning
Ordinance is two (2) stories in the Commercial District.
However, the Dallas North Tollway Design Guidelines allows
up to twelve (12) stories along the tollway.
Proposal
Maximum building height: twelve (12) stories
Townhomes: Maximum three (3) stories
Neighborhood Commercial: Maximum three (3) stories
The applicant has proposed minimum building height by use
type:
a. Office: four (4) stories.
b. Multifamily
i. Apartments: four (4) stories.
ii. Condominiums: four (4) stories.
c. Hotel: four (4) stories
d. Retail: one (1) stories.
The applicant is proposing materials such as brick, natural and manufactured
stone, curtain wall and window wall glazing, and cementitious panel system shall
be considered primary materials. Primary materials shall comprise of at least
seventy-five percent (75%) of each elevation, exclusive of doors and windows.
Where cementitious panel is applied, it shall be limited to no more than 50% of a
building’s material. Non-primary, or secondary materials, may include stucco and
metal panel systems.
Where Multifamily is concerned, primary materials shall be limited to brick,
natural and manufactured stone, and cementitious panel system.
Many of the building setbacks in the
highway and neighborhood sub-
districts have been reduced or
removed in order to allow the
proposed mixed-use development to
conform to Exhibit D.
All apartment buildings shall have a
setback of 250’ from the Dallas North
Tollway.
The building setbacks in the
neighborhood sub-district reflect the
typical “suburban” setting of the
townhomes and commercial
development
Design Guidelines
The applicant is proposing specific design guidelines to
address the pedestrian-oriented mixed-use development in
the highway and neighborhood sub-districts.
Parking Standards
Due to the urban/walkable setting, the applicant is proposing
a mixed-use reduction of 20% shall be applied to the overall
development except for townhomes.
Landscaping
The applicant is proposing specific design guidelines to
address the pedestrian-oriented mixed-use development in
the sub-districts. The applicant has also incorporated Dallas
North Tollway Guidelines within the development standards.
Open Space
Due to the unique design of the development, the applicant is
proposing minimum 20% which includes landscape
easements, setbacks, public plazas, and detention ponds.
2022 Dallas North Tollway Design Guidelines –
•Per the guideline, “Multi-family Developments - The Town Council may permit a multi-family
housing as part of a wholistic development that includes a combination of businesses designed to
create a live, work and play environment. These businesses can be, but are not limited, retail,
office, recreational, family-friend entertainment and/or restaurant establishments. If multi-family
housing is part of a development proposal that includes businesses and/or amenities described in
Section F. “Business Establishments Pursuant to the Town’s Vision” increased density may be
permitted. It is highly recommended that multi-family units be designed with structure parking as
opposed to surface parking.”
2022 Dallas North Tollway Design Guidelines
Applicant’s Presentation
8/9/2023Prosper, Texas
Prosper Mixed-Use Master Plan – Preliminary Concept for Zoning
R. Andrew Bennett
Reg. No. 18129
PRADERA
Placemaking on the Prairie | Prosper, Texas
8/9/2023Prosper Mixed-Use Master Plan
4
1
PRADERA
Placemaking on the Prairie | Prosper, Texas
PRADERA
EXHIBIT A
Town of Prosper Project No: _______Z22-0019
FRONTIER PARKWAY
PROSPER TRAIL
8/9/2023Prosper Mixed-Use Master Plan
4
2
PRADERA
Placemaking on the Prairie | Prosper, Texas
PRADERA
EXHIBIT A
N
Town of Prosper Project No: _______Z22-0019
8/9/2023Prosper Mixed-Use Master Plan
4
3
PRADERA
Placemaking on the Prairie | Prosper, Texas
PRADERA
EXHIBIT A
N
Town of Prosper Project No: _______Z22-0019
Dallas North Tollway District
•The Town Council may permit a multi-family housing as part of a wholistic development that includes a combination of businesses
designed to create a live, work and play environment. These businesses can be, but are not limited, retail, office, recreatio nal,
family-friend entertainment and/or restaurant establishments.
•Gateways should be clearly identifiable to vehicular and pedestrian travelers and must include Public Art to promote vitality and
provide a unique sense of identity.
•The site design shall designate major entryways into a development with an entry feature that includes assets such as landsca ping,
an entry monument, a sculpture, or a fountain(s)
•It is important that the materials and construction of streetscapes and buildings at the lower floors provide a level of deta il and
quality which creates a pedestrian-friendly environment that is warm and inviting.
•The design and location of building entrances in the Tollway District are important to help define the pedestrian environment and
create retail-friendly environments
•Active uses such as retail, cafes, restaurants, higher density residential and office uses which provide pedestrian traffic s hould be
considered as appropriate uses to line parks and open spaces.
•Up to thirty (30) percent of the parking spaces required may be waived for a theatre or other place of evening dining and
entertainment (after 6:00pm), and if used jointly by banks, offices and similar uses not normally open or operated during the
evening hours.
•Publicly accessible parks and open space organize and reinforce neighborhood structure.
•Large sites should create a pedestrian pathway system that links all buildings, parking areas and open spaces utilizing the p edestrian
pathways that will connect to any nearby public sidewalks.
EXHIBIT B
Town of Prosper Project No: _______
PLANNED DEVELOPMENT NO. 119
Planned Development Purpose and Intent
Z22-0019
This planned development is intended to provide for and encourage development that contains a
compatible mix of residential, office, and commercial uses within close proximity to each other, rather than
separating uses.
The planned development generally addresses the physical relationship between development and adjacent
properties, public streets, neighborhoods, and the natural environment by:
•Ensuring buildings relate appropriately to surrounding developments and streets which create
cohesive visual identity and attractive street scenes.
•Ensuring site design promotes efficient pedestrian and vehicular circulation patterns.
•Ensuring the creation of high-quality street and sidewalk environments that are supportive of
pedestrian mobility and that are appropriate to the roadway context.
•Ensuring large sites are developed in a manner that supports and encourages connectivity and creates
a cohesive visual identity.
Sub-districts have been carefully designed to allow enough flexibility for creative building solutions, while
being prescriptive in areas necessary to preserve consistency throughout the development.
EXHIBIT D
N
Town of Prosper Project No: _______PRELIMINARY SITE PLAN
Neighborhood Sub-District
Z22-0019
EXHIBIT D
N
Town of Prosper Project No: _______PRELIMINARY GROUND PLANE Z22-0019
EXHIBIT D
Town of Prosper Project No: _______Z22-0019
Parking – Mixed Use Factor
•The requested mixed-use reduction of 20% correlates closely to the retail parking requirements (853).
•Surface parking and main garage beneath town center provide 400 parking spaces of the 853 required retail
spaces
•Office building garages provide 1,142 parking spaces available for retail use on weekends.
•Residential garages can have some retail parking during the day
•Parcels that have not been constructed like an office phase can have temporary surface parking.
PRADERA USE ANALYSIS
Total Land Acreage 34.70
Total Land Square Feet 1,511,488
Total Developed Square Feet 1,405,189
FAR 1.0 approx.
Office Stories Floor SF Total 28%
Retail Stories Floor SF Total 10%
Hospitality Keys Unit Size Total 10%
Multifamily Units [MAX]Unit Size Total 46%
Apartments 500 892 446,000
Condominiums 230 892 205,160
Total 730 651,160
Townhomes Units Unit Size Total 6%
Multifamily Product Review
•835 Multifamily units requested in Planned-Development
•Apartments will utilize 75% (626) and Condominiums will utilize 25% (209)
•Studio and 1-Bedroom units range from 50-70% of the mix
•2-Bedroom and 3-Bedroom units range from 30-50% of the mix
•Multifamily Properties will feature:
•Interior condition corridors
•Ten-foot ceilings
•Hidden Trash Collection
•Hospitality –Style Amenity Centers
•Resort-Style Pool
•State-of-the-Art Fitness Centers
•Structured Parking
EXHIBIT
D2
N
Town of Prosper Project No: _______Z22-0019
EXHIBIT D3
N
Town of Prosper Project No: _______Z22-0019
EXHIBIT
D4
N
Town of Prosper Project No: _______Z22-0019
Jefferson Alpha West
Farmers Branch
The Kelton At Clearfork
Fort Worth
Legacy West Mixed-Use
Plano
The Domain
Austin
Material Mix
Granite Park Hilton
Plano
Legacy West Mixed-Use
Plano
Cityline Retail
Plano
Granite Park Office
Plano
Material Mix
Placemakin on the Prairie | Prosper, Texas
THE AVALON CENTER MEDIAN
RETAIL
CITY LINE OFF ICE
PLAZA
GRANDSCAPES AMPHITHEATER
GREEN
CITYLINE RETAIL
GREEN
THE AVALON CENTER MEDIAN
RETAIL
THE AVALON CENTER MEDIAN
RETAIL
KLYDE WARREN PARK LINEAR
PARK
THE DOMAIN PUBLIC ART OPEN
SPACE
THE PEARL COMMON
GREEN
EXHIBIT F EXHIBIT F
Town of Prosper Project No: _______Z22-0019
OVERALL
EXHIBIT F EXHIBIT F
Town of Prosper Project No: _______Z22-0019
MAIN INTERSECTION
EXHIBIT F
TOWN SQUARE LOOKING SOUTH
EXHIBIT F
Town of Prosper Project No: _______Z22-0019
EXHIBIT F EXHIBIT F
Town of Prosper Project No: _______Z22-0019
HOTEL
8/9/2023Prosper Mixed-Use Master Plan
6
0
PRADERA
Placemaking on the Prairie | Prosper, Texas
PRADERA
EXHIBIT F EXHIBIT F
Town of Prosper Project No: _______Z22-0019
STREET VIEW
Cornerstone Projects Group offers clients an unrivaled service and a
commitment founded on the simple principle of stewardship: lead in
the development,architecture and construction of real estate
investments by serving the individual needs of each client. Our team of
experienced professionals collaborates to provide a complete solution,
managing all aspects of real estate development so our clients can focus
on what they do best.
Utilize local presence, knowledge and niche expertise in acquiring and
managing institutional-grade commercial real estate to generate superior
returns for our investors in any environment, and to make a positive impact on society.
•10+ year’s experience in Texas
•$1B in transactions
•$2B new development project in pipeline
•$200M equity raised during COVID
•Working relationship with PE firms and multibillion dollar operators, including Crowe
and KnightVest.
Notable Updates and Developer Concessions in Exhibit C Since P&Z Meeting 2/7/2023
•Enhanced commitment to development triggers to begin work in Highway Sub-District
•All townhomes to have certificate of occupancy
•1 retail building underway
•POA shall be approved by staff
•Further defined multifamily as condos and apartments
•Set restrictions for maximum quantities and unit mix
•Defined retail and tied locations to the site plan (Exhibit D).
•Increased screening requirements above standard ordinance, at both ground level and roof top level.
•Adopted building height minimums to secure density.
•Clearly defined materials and further limited materials for multifamily.
•Increased masonry percentages for multifamily and townhomes.
•All permitted uses comply with Dallas North Tollway Design Guidelines
•Further restricted uses for compatibility with Pradera site plan.
•Included a minimum and maximum for allowable townhome unit quantity.
•Included detailed design guideline for multifamily buildings that govern such items as form, massing, openings,
alignment and projections.
•Added hotel characteristics to align with the City of Prosper Conditional Use standards and limited hotel type
to “full-service” only.
Schedule - Preliminary
Off-Site Infrastructure
•Dallas North Tollway
•From US 380 to FM 428 in Celina
•Start 2024 / Complete 2027
•Shawnee Trail
•~1,000 LF extension to future Capital
Improvement Plan by City of Prosper
•Start 2024 / Complete 2026
•On-Site Infrastructure
•Start 2026
FINANCIAL BENEFIT
Town of Prosper Project No: _______Z22-0019
Taxes based on gross annual
sales:
Retail: $81.2MM
Hotel: $14.6MM
FINANCIAL BENEFIT
Town of Prosper Project No: _______Z22-0019
RECOMMENDATIONS
Town of Prosper Project No: _______Z22-0019
Planning & Zoning Recommendation:
Approved unanimously at the June 20th public hearing.
Dallas North Tollway Guidelines:Town Staff
Recommendation:
8/9/2023Prosper Mixed-Use Master Plan
6
7
PRADERA
Placemaking on the Prairie | Prosper, Texas
PRADERA
THANK YOU
Agenda Item 10.
Consider and act upon a resolution of the Town Council of the Town of Prosper,
Texas, declaring the public necessity to acquire certain properties for right-of-way,
drainage easements, and temporary construction easements for the construction
of the First Street (DNT – Coleman) project; determining the public use and
necessity for such acquisition; authorizing the acquisition of property rights
necessary for said Project; appointing an appraiser and negotiator as necessary;
authorizing the Town Manager to establish just compensation for the property
rights to be acquired; authorizing the Town Manager to take all steps necessary to
acquire the needed property rights in compliance with all applicable laws and
resolutions; and authorizing the Town Attorney to institute condemnation
proceedings to acquire the property if purchase negotiations are not successful.
(HW)
Agenda Item 11.
Discuss and consider submission of the proposed fiscal year
2023-2024 Budget. (RBS/CL)
Budget Timeline
March 28, 2023 Multi-Year Budget Projections
April 25, 2023 Strategic Vision Adopted
Spring/Summer 2023 Sub-Committee Meetings on Capital Project
Prioritization, Debt Issuance, Market Adjustments
July 25, 2023 Certified Rolls
August 8, 2023 Presentation of Preliminary Budget,
Passage of all items needed to begin
Budget Adoption Process.
Budget Timeline
Before August 22, 2023 Sub-Committee Meetings per Council Direction
August 22, 2023 Policy Discussion of Sub-Committee
Recommendations and Staff Follow-up.
August 31, 2023 Budget Town Hall Meeting
September 12, 2023 Budget Public Hearing, Final Changes (if any)
and Adoption
Town Council Strategic Vision
Adopted April 25, 2023:
➢The Acceleration of Infrastructure
➢The Development of Downtown Prosper as a Destination.
➢Ensuring that the Town’s Commercial Corridors are Ready for
Development.
➢Continue to Provide Excellence in Municipal Services.
➢Work Towards a Growing and Diversified Tax Base
Budget in Brief
Total FY 2023-2024 Preliminary Budget Operating Appropriations $97,259,222
including:
• $48,910,761 for General Fund operations and maintenance,
• $3,019,990 for the Crime Control and Prevention Special Purpose District,
•$2,947,428 for the Fire Control, and Emergency Medical Services Special
Purpose District,
•$42,381,043 for the Town’s Enterprise Funds including Solid Waste, Water, and
Sewer utilities as well as the Storm Drainage Utility Fund.
General Debt Service Appropriations for the coming fiscal year are $14,952,436.
Governmental Capital Projects added for the year total $98.8 million.
Key General Fund Revenue Drivers
For FY 2023-2024, General Fund revenues are expected to total $45,745,045
which is a decrease of 3.87% over the previous year’s amended budget. However,
property tax revenue designated as Capital Dedicated is now shown as revenue in
the Capital Projects Fund – General.
The Preliminary Budget reflects 8.6% growth from FY 2022-2023 year-end
projected sales tax receipts. This is the sixth year for the Special Purpose Districts
that receive sales tax that had been previously reported in the General Fund. The
General Fund is projecting sales tax revenue of $10,893,442 for FY 2023-2024.
Major General Fund Additions
Administration:
Market Adjustment - $632,632
IT Security, system and Other Enhancements - $291,766
Police:
Stratified Policing Accountability Model - $2,366,618
Fire:
Emergency Management - $117,926
Major General Fund Additions
Streets:
Street Markings and Sign Enhancements - $154,180
Ice Pre-treatment Equipment and Supplies - $154,010
Parks and Recreation:
Increased Community Events - $172,000
Engineering:
Traffic Signal Communication Upgrade - $70,000
Other Funds
Utility Fund-Distribution and Collection Utility
•Potable Water Supplier proposing over 11% increase in rates
•Wastewater treatment supplier requires significant capital investment
for new treatment plant
•Rate Consultant projecting need for multiple year rate increases
including a blended 7% next year (6% water and 9% wastewater)
•First Rate Increase in four years (2019)
Solid Waste Fund
•Created in 2023, with RFP award will be self-supporting through Rates
Stormwater Drainage
•No rate increase recommended. Last rate increase 2018.
Personnel and Compensation Changes
•Labor market is very tight especially here in the
DFW Metroplex.
•Merit budgeted at 3%
•Market Adjustments
•6% for Police
•3% for Fire
•All other employees 5% behind market average
were adjusted 5%
New General Fund Positions FY24 (27.75)
FINANCE (.5 FTE) FIRE (2 FTE)
.5 - 1/2 ADMINISTRATIVE ASSISTANT 1 - EMERGENCY MANAGEMENT COORDINATOR
1 - ADMINISTRATIVE ASSISTANT
HR (.25 FTE)
.25 - PAYROLL SPECIALIST PARKS (4.5 FTE)
1 - CHEMICAL TECHNICIAN
IT (1 FTE) 1 - HEAVY EQUIP OPERATOR
1 - HELP DESK TECHNICIAN I 1 - CREW LEADER
1 - MAINTENANCE WORKER
POLICE (14 FTE) .5 - RECREATION ATTENDANT (SEASONAL)
9 - POLICE OFFICER – PATROL
1 - SERGEANT (SUPPORT SERVICES) LIBRARY (.5 FTE)
1 - SERGEANT (CID) .5 - PART TIME ADMINISTRATIVE ASSISTANT TO FULL TIME
2 - DETECTIVE (CID)
1 - CRIME VICTIM ADVOCATE FACILITIES* (2 FTE) *Positions approved due to TDI contract termination.
1 - FACILITIES MAINTENANCE TECHNICIAN
9-1-1 COMMUNICATIONS (2 FTE) 1 - FACILITIES ADVANCED MAINTENANCE TECHNICIAN
2 - TWO 9-1-1 COMMUNICATIONS SUPERVISORS
CODE COMPLIANCE (1 FTE)
1 - CODE COMPLIANCE OFFICER
Multi-Year Capital Program/Debt Issuance
Recently Approved Bonds 2022-2023
Parks
•Various Hike and Bike Trails $800,000
•Raymond Community Park, Phase 1: (Construction) $9,000,000
Street
•First Street (DNT – Coleman): (Land/Esmt) $1,775,000
•Fishtrap, Segment 2 (PISD Reimbursement) $1,063,033
•Legacy (Prairie – First Street) – 4 lanes: (Construction) $10,000,000
•First Street (Elem – DNT): (Construction) $6,000,000
•Fishtrap (Teel – Gee Road): (Construction) $6,025,000
•Coit Road (First – Frontier) – 4 lands: (Land/Esmt) $800,000
•Parvin (Legacy – DNT): Interim asphalt improvements $500,000
•Frontier (Legacy – DNT): (Design) $300,000
•Coleman (Gorgeous – Prosper Trail)-4 lanes: (Land/Esmt) $350,000
•Coleman (Prosper Trail – Talon) – 2 SB lanes: (Land/Esmt) $345,000
TOTAL $36,958,033
Projected Debt Funding Next 5 Years
Fiscal Year Planned Issuance Remaining Authorization Comments
2022-2023 *$36,958,000 $99,391,967 Increased due to A/V Growth
2023-2024 *$31,950,000 $67,441,967 Acceleration of Infrastructure
continues
2024-2025 *$19,155,000 $48,286,967 Bond Election Planned for
November 2025 or May 2026
2025-2026 **$30,500,000 TBD First Year of New Authorization
2026-2027 **$26,800,000 TBD Mix of 2020 authorization and
new authorization TBD
2027-2028 **$18,650,000 TBD
* Recommendation of CIP Sub-Committee through FY 2025. Debt capacity would allow 2020 program to finish in 2027.
** Planning purpose only. Future debt capacity may change dependent on A/V growth. Mix of new and existing authorization TB D.
Council Policy Guidance
Two elements of the Council’s strategic vision compete directly with
each other for funds:
➢Accelerate Infrastructure
➢Provide Excellence in Municipal Service
Moving the Capital Dedicated levy directly to the Capital Projects Fund
makes this levy 100% recurring which combined with drawing down
GF non-recurring last year places restraints on operational funding
POLICY QUESTION: Is the $8.5 million set aside in Capital
Projects the right amount or should some be moved back to the
GF?
Agenda Item 12.
Consider and act upon accepting submission of the tax year 2023-
2024 no-new-revenue tax rate of $0.448160 per $100 taxable
value and the voter-approval tax rate of $0.51 per $100 taxable
value. (CL)
No-New-Revenue Tax Rate
•The “No-New-Revenue" rate is the highest property tax
rate a local government can adopt that generates the
same amount of revenue as the previous year, despite
changes in property values.
•The calculation excludes impact from new property
and property in a TIRZ.
•Compares like property year over year.
Voter-Approval Tax Rate
•The “voter approval” rate is the maximum property tax rate
increase, 3.5% on M&O plus calculated I&S Rate, that local
taxing units can implement without voter approval.
•Mandated to adopt the calculated I&S rate.
Property Tax Rate Comparison
2023-2024 2022-2023
No-New-Revenue Tax Rate $0.448160 $0.438227
Voter-Approval Tax Rate $0.51 $0.527336
Debt Rate (I&S Rate)$0.177258 $0.180170
Adopted Rate -$0.51
Preliminary Rate $0.51 -
Agenda Item 13.
Consider and act upon an ordinance establishing the tax year
2023 certified appraisal roll. (CL)
Historical Property Valuation
Fiscal Year
Valuation
Excluding Freeze Growth New Property
Growth
from New
Property
Reappraisal
Growth
Growth from
Reappraisal
2019-2020 4,209,067,499 12.40%414,634,110 11.07%49,749,601 1.33%
2020-2021 4,601,196,301 9.32%360,557,369 8.57%31,571,433 0.75%
2021-2022 5,437,210,564 18.17%469,526,490 10.20%366,487,773 7.97%
2022-2023 6,616,007,870 21.68%596,431,779 10.97%582,365,527 10.71%
2023-2024 8,335,296,679 25.99%888,617,933 13.43%830,670,876 12.56%
Agenda Item 14.
Consider and act upon a proposed FY 2023-2024 property tax
rate. (CL)
Historical Property Tax Rate
Fiscal Year M&O I&S Total Rate
2019-2020 0.367500 0.152500 0.520000
2020-2021 0.367500 0.152500 0.520000
2021-2022 0.328000 0.182000 0.510000
2022-2023 0.329830 0.180170 0.510000
2023-2024 0.332742 0.177258 0.510000
Historical Property Tax Rate by Fund
Fiscal Year
General Fund
and TIRZ
Capital
Dedicated Debt Service
2019-2020 0.367500 - 0.1525
2020-2021 0.367500 - 0.1525
2021-2022 0.328000 - 0.182
2022-2023 0.217830 0.112* 0.18017
2023-2024 0.230742 0.102 0.177258
*Capital Dedicated levy recognized in the General Fund and the transferred to General Capital Projects Fund in FY 2022 -2023.
0.634759
0.53975 0.518731 0.51
0.48416
0.456168 0.4466
0.405
0.36 0.3545
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
Celina Anna Coppell Prosper Little Elm McKinney Frisco Flower Mound Southlake Keller
Property Tax Rate Comparison FY2022-2023
Agenda Item 15.
Consider and act upon scheduling a public hearing on the FY
2023-2024 proposed Budget. (CL)
•A public hearing is required by State law on the Proposed Budget.
•Public Hearing: September 12, 2023, at 6:15 p.m., Council Chamber of Prosper
Town Hall.
Agenda Item 16.
Consider and act upon scheduling a public hearing on the
proposed FY 2023-2024 tax rate. (CL)
•A public hearing and a published notice is required if proposed rate exceeds the
lower of the no-new-revenue or voter-approval tax rates.
•Public Hearing: September 12, 2023, at 6:15 p.m., Council Chamber of Prosper
Town Hall.
•Notice will appear in the Frisco Enterprise on August 27
Agenda Item 17.
Discuss and consider Town Council Subcommittee reports. (DFB)
Possibly direct Town Staff to schedule topic(s) for
discussion at a future meeting.
Executive Session
Section 551.087 – To discuss and consider economic development incentives and
all matters incident and related thereto.
Section 551.072 – To discuss and consider purchase, exchange, lease or value of
real property for municipal purposes and all matters incident and related thereto.
Section 551.074 – To discuss and consider personnel matters and all matters
incident and related thereto.
The Town Council will reconvene after Executive
Session.
Reconvene into Regular Session and take any
action necessary as a result of the Closed Session.
Adjourn