Members of the Frisco City Council approved an agreement providing up to $5 million in hotel occupancy tax rebates and assistance pursuing state grants for a mixed-use development at Toyota Stadium.
City council members unanimously agreed to enter into a Chapter 380 Economic Development Agreement with the Hunt Family, who operates the stadium. The city will also assist in pursuing state grants to fund construction of “mixed-use improvements.”
According to the city’s Tuesday announcement, any grant money received would be used to support “a 250-room full-service hotel; a 15,000 square foot convention center; about 30,000 square feet in retail and restaurant space; and a multi-story parking garage.”
The city cited an “expected” increase in tourism and benefits to the Rail District businesses following the creation of an additional parking garage as reasons for the agreement.
“FC Dallas and the Hunt family are terrific partners,” said Mayor Mark Hill. “This is another example of a strategic partnership that sets Frisco apart from others and will continue to enhance our city for decades to come.”
As part of the agreement, the city will pass through 50 percent of hotel occupancy tax revenue collected over 10 years, which will be capped at $5 million. It will also waive half of the construction and development fees for the stadium improvements.
The Hunt family will be responsible for the legal and consulting costs that are connected with applying for grants for the project.
This new funding is in addition to $182 million that was allotted by the city council in 2024 to fund various stadium improvements, which included additional seating, shaded seating, upgrades to luxury suites, and new press box seats and broadcast booths.
When the $182 million in funding for the project was approved, the city said that the funds came from a public-private partnership made up of the City of Frisco, the Hunt family, Frisco Independent School District, and Frisco Community Development Corporation.
