Budget 2010 - City of Frisco

DEPARTMENT DIVISION/ACTIVITY ACCOUNT
FINANCIAL SERVICES SECTION 380 GRANTS 12028000
2007-2008 2008-2009 2009-2010
EXPENDITURES: Actual Revised Proposed
PERSONNEL - - -
OPERATIONS 3,158,481 3,179,152 3,460,725
CAPITAL - - -
TOTAL 3,158,481 3,179,152 3,460,725
PERSONNEL: FY 2008 FY 2009 FY 2010
** Note: No positions funded in this division.
KEY POINTS OF PROPOSED BUDGETS:
• This Division tracks the costs of the sales tax grants; the agreement with the mall developer to
rebate a percentage of the increased sales tax dollars back to the mall stores and surrounding
development as incentive to locate in Frisco.
• In addition to the mall agreements, the City has four other Section 380 Grants which include:
IKEA
Walmart, REP ELD Realty
Center at Preston Ridge, Briar Ridge Partners
Target Corporation
• The City has three tax agreements included here:
Origination
Date
2005
2007
2008
2000
Origination
Date
Term
10 years
10 years
10 years
10 years
Term
Medland, LP
Masonic Lodge
Champion Warren
2003 10 years
2004 10 years
2006 25 years
76