02.10.2026 TIRZ No. 1 Meeting PresentationWelcome to the February 10, 2026,
Prosper TIRZ No. 1
Board of Directors Meeting
Call to Order/Roll Call
Agenda Item 1.
Consider and act upon the minutes of the January 28, 2025, TIRZ No. 1
Board of Directors meeting. (MLS)
Agenda Item 2.
Receive the 2025 Annual Report. (HW/MN)
TIRZ No. 1
(Gates of Prosper)
TIRZ #1 BOUNDARY MAP
PUBLIC INFRASTRUCTURE / BUILDING PROJECTS
TIRZ #1 STATUS
ID Business Name Area
Prime IV Hydration &
Wellness
2,198
Reza’s Rug & More 3,370
Woof Gang Bakery &
Grooming
1,996
Glo Tanning 2,365
Outback Steakhouse 4,694
TOTAL Square Footage 14,623
CO During Reporting Period
Shell Buildings Area
1081 Gates Pkwy 63,417
1191 Gates Pkwy 88,316
TOTAL Square Footage 151,733
1091 Gates Pkwy
US HIGHWAY 380
Prime IV Hydration
& Wellness
Outback
Steakhouse
Reza’s Rug & More Glo Tanning
1081 Gates Pkwy
Woof Gang Bakery
& Grooming
Received a CO After Reporting Period
ID Business Name Area
Nordstrom Rack 25,790
Heirloom Haul 3,090
Carhartt 4,886
Galaxy Pool Spa Patio 9,600
Lenscrafters 2,481
TOTAL Square Footage 45,847
Residential
Gates MF2 Bldg 6&10
US HIGHWAY 380
Carhartt
Lenscrafters
Nordstrom Rack
Galaxy
Pool-Spa-Patio
Heirloom Haul
ID During Reporting Period
Starview Ph 1: 47 Lots
After Reporting Period
Gates MF Ph 2 Bldg 6: 31 Units
Gates MF Ph 2 Bldg 10: 31 Units
Starview Ph 2: 126 Lots
Under Construction
Gates MF Ph 2 Remainder: 194 Units
Planned
See separate slide
Residential
Starview Ph 2:
126 Lots
Gates MF Ph 2
Remainder
194 Units Starview Ph 1:
47 Lots
Gates MF Ph 2
Bldgs 6 & 10:
62 Units
UPDATE
Residential Upcoming
PD-67 SUBDISTRICT 3
Mixture of Single Family and Town
home lots (w/ retail and office uses
along First St)
- maximum 150 lots
Prelim Plat expected to be submitted
Spring 2026
ID Under Construction
Total Wine & More
Homes2 Suites: 119 guest rooms
J Alexander’s
REI (Grand Opening schedule Mar 20)
Permit Under Review
Gates Ph 3B: 39,676 sf retail/restaurant
Barnes & Noble
NOT Yet Permitted
Underway and Upcoming
REI
Home2 Suites
J Alexander’s
Barnes & Noble
Total Wine
Gates Ph 3B
CAPITAL
IMPROVEMENT
PLAN BUDGET
Reimbursement
Request No. 11
June 1, 2025
TIRZ FUND FINANCIAL STATEMENT
Revenues
TIRZ FUND FINANCIAL STATEMENT
Expenditures
CAPITAL DEBT
PROJECTS SERVICE TOTAL
REVENUES & EXPENDITURES
By Payments Made:
Total Charges 2017 2018 2019 2020 2021
Total Payment 1,176,006.57 1,846,744.76 1,512,514.84 3,125,727.91 2,135,557.37
Interest 4,735,304.90 383,092.54 468,265.03 310,937.13 189,479.64 523,288.16
Construction Costs 49,664,067.27 792,914.03 1,378,479.73 1,201,577.71 2,936,248.27 1,612,269.21
2022 2023 2024 2025 Total Payments Remaining Balance
5,229,933.76 3,607,317.77 5,096,883.79 6,066,936.00 29,797,622.77
591,877.82 564,600.78 844,220.23 859,543.57 4,735,304.90 -
4,638,055.94 3,042,716.99 4,252,663.56 5,207,392.43 25,062,317.87 24,601,749.40
Total Payment
Interest
Construction Costs
TIRZ #1 PROPERTY TAX ROLLBACK
REVENUES & EXPENDITURES
Property Tax Revenue
32,655,287
40,776,072
85,934,558
110,647,781
139,795,335
176,214,096
231,419,868
314,920,655
359,907,662
-
50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
300,000,000
350,000,000
400,000,000
Appraised Value
Appraised Value
1,108,174 1,256,338
231,790 265,382
3,960,127
4,525,839
5,300,091
6,047,560
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
Property Tax Revenue
Town County PISD Total
REVENUES & EXPENDITURES
Sales Tax Revenue
22,392
387,964
926,636
957,981
1,267,842
1,613,718
1,683,814
2,240,000
2,313,976
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2017 2018 2019 2020 2021 2022 2023 2024 2025
Sales Tax Revenue
40% of Town’s 1% & 67% of EDC’s .5%
Sales Taxes
AGREEMENT LIMITS
$49,664,067
$8,245,408
Maximum Construction Payments $57,909,475
Current Construction Request Remaining
$54,399,372 $38,679,628
Maximum Construction Payments + Interest
$93,079,000
Current Construction plus Interest Remaining
Anticipated Town Requests for FY26:
$ 900,000 First St, DNT – Coleman, Design
1,000,000 Godwin Parkway Contribution
2,000,000 First St, DNT – Coleman, Construction*
$3,900,000 Total
*Contract award pending. Rough estimate of FY26 costs
Adjourn