header
Department: Special Projects
Director: Peter Braster, Director of Special Projects
Agenda Item: PISD TIRZ No. 6 ILA
Recommended Action: Approval of Contract/Agreement
end
Item Summary
title
To approve an Interlocal Agreement between the City of Plano and the Plano Independent School District regarding the District's participation in Tax Increment Reinvestment Zone Number Six, City of Plano, Texas; and authorizing the City Manager or designee to execute all necessary documents.
body
Previous Action/Presentation
On June 8, 2026, City Council adopted Ordinance No. 2026-6-3 designating Tax Increment Reinvestment Zone Number Six, City of Plano, Texas (TIRZ No. 6), appointing its Board of Directors, and approving a preliminary Project and Finance Plan in accordance with Chapter 311 of the Texas Tax Code.
On August 4, 2026, the Plano Independent School District (PISD) Board of Trustees executed the Interlocal Agreement presented for Council consideration.
Background
Chapter 311 of the Texas Tax Code allows taxing units other than the City to contribute a portion of their tax increment to a reinvestment zone by written agreement. The City will contribute its tax increment from TIRZ No. 6 to the Zone's Tax Increment Fund, and PISD has agreed to participate under the proposed Interlocal Agreement, which is entered into pursuant to Chapter 791 of the Texas Government Code and Section 311.013 of the Texas Tax Code. The key terms of the Agreement are summarized below.
PISD Contribution. PISD will contribute 50% of the tax increment it collects from its maintenance and operations (M&O) tax levy on the captured appraised value of property within the original boundary of TIRZ No. 6. PISD's interest and sinking (debt service) tax is excluded. PISD's total contribution over the life of the Agreement is capped at $250,000,000.
Community Use of Facilities. As a material community benefit to PISD, the City will allow PISD and the community it serves to make reaso...
Click here for full text