Frisco city leaders to discuss economic development agreement for Toyota Stadium

Frisco city leaders will take a closer look at a proposed economic development agreement on Tuesday that would bring more businesses near the home of FC Dallas.

The proposed agreement aims to add a 250-bed hotel near the stadium, along with a 15,000 square-foot convention center, 30,000 square feet of retail and restaurant space, and parking garage improvements on the Toyota Stadium and Soccer Center campus. It would build upon mixed-use development agreements approved in September 2024. The city and the developer, identified as DP6 Hotel & CC, would apply for state incentives through the qualified hotel project program.

If approved, the proposal says that the eligible state hotel and sales taxes generated by the project would then be passed from the state through the city to the developer. City funds would not be used for state incentive payments, and the proposal says the developer would pay application-related consultant and legal costs. The city would also provide 50% of the city hotel occupancy tax collected from the new hotel for 10 years, capped at $5 million, and it would waive 50% of the city development fees for improvements covered by the agreement. 

The proposal says the hotel and convention center are expected to bring in more visitors, meetings, and events to the Toyota Stadium campus. It also notes that grant payments are dependent upon meeting the agreement's performance requirements and receiving applicable tax revenues.