Cue the organ. Dim the gaslights. Somewhere beneath City Hall, in the catacombs of taxpayer-funded dreams and concrete promises, a shadowy figure stirs. No, it’s not Andrew Lloyd Webber’s misunderstood genius — it’s Mayor Jeff Cheney, cloaked not in a mask but in economic development jargon, quietly orchestrating Frisco’s most expensive performance yet: the Frisco Center for the Arts.

You won’t find him on stage — no, he’s under it. Pitching, plotting, and maybe even humming a show tune with Tammy Meinershagen. They are not haunting an opera house, but haunting public trust, serenading voters with visions of velvet seats and chandelier-worthy productions — all while the deal’s finer details stay buried beneath layers of “partnerships,” and “nonprofits,” and a conveniently ambiguous price tag.

This isn’t just art. This is politics set to music — a taxpayer-funded overture with mystery, misdirection, and a plot twist or two we’re not supposed to see until the curtain drops.  Grab your mask (and maybe your calculator), dear reader. We’re headed backstage, into the Phantom’s lair, where the lights are low and the truth is off-book.

#1 Concern: Mo Money, Mo Problems!

The total maximum project budget for the FCFA is $340 million.  Prosper has pledged to contribute $100 million from a bond approved in 2023.  Then the City of Frisco is proposing $45 million from the CDC, $75 million from the EDC and $40 million from the Tax Reinvestment Zone No. 1.  The Frisco CDC and EDC come from sales tax, which means if you shop in Frisco and you pay sales tax on an item then you are paying towards this project.

City leadership keeps reinforcing that this project will cost $160 Million funded through sales tax efforts and we keep asking for proof that residents won’t be left holding the purse strings.  The question residents should be asking is “Does this project along with all the other current projects, put a significant tax burden in the future for Frisco?”

Do you know what Frisco’s outstanding bond debt is today?  Currently Frisco taxpayers are on the hook for $1.47 BILLION in OUTSTANDING bond debt (principle & interest). 

If we read the latest 2024 Rating Summary for all the CDC debt which includes Toyota, the CDC is currently carrying $464 million in outstanding principal and interest which is being serviced by the $34.9 million in CDC sales tax revenue as reported September 2024.   Using Toyota as an example, normally the CDC finances on a shorter term, however with Toyota Stadium they did $72 Million for 30 years at a rate of 5.30 probably to keep the payment low.

When you look at the historical revenues for the CDC, the year ending 9/30/20 they had $22,562,428 in gross tax receipts and at the end of 2024 it was $34,929 and it was about the same in 2022/2023).  That means with all the Halo Projects Cheney brags about it having only generated an additional $12 million in sales tax for CDC.  Huh?  That is because no one saw Covid coming and the world shut down.  What if that happens again or the economy tanks, then what?   

Are we over invested?

Toyota Stadium: $182 million in improvements: $77 million – TIRZ:  City of Frisco, FISD, $40 million – FCDC, $65 million – The Hunt family 

Downtown Rail District Revitalization: $76 Million

Grand Park: In 2006, voters approved the allocation of $22.5 million towards the acquisition and initial development of GP.  In 2015, voters approved an additional $10 Million for GP.  From research we know the city approved $4.84 Million already spent on design costs. We went through numerous articles, city power points, meeting notes and the one thing we can’t find – what will Grand Park cost?  Ask yourself, a park bigger than Central Park in New York with all the bells and whistles – how much will that cost?  Where will the money come from? 

Plus, we have plenty of projects open like The Mix, Firefly, and Universal where we are offering performance-based incentives.  For The mix it is up to $113 Million. 

From Box Office to Backroom

Take the CDC and EDC out of the picture for a moment – what type of projects are currently on the plate for the city. These projects are “Needs” not “Wants” which is very different.  According to GIS Data the Parks Capital Improvement Projects has 50 total projects in the pipeline for $170 Millon and the Engineering Capital Improvement has 66 projects in the pipeline for $457.9 Million. 

Taxpayer Tango

Let’s talk about Bond, money bond!  In the 2006 bond, voters approved of $5 Million and in the 2015 bond voters approved of $10 Million for a total of $15 Million.  How much of that is left?  According to the pretty PowerPoints thrown at us for the FCPA they have $11.5 Million left.  We are curious about how that is possible and are doing more research into their claim.  How much of it have they spent and what did they spend it on?  Why has the city done so many feasibility and spatial studies over the years for a theater?  The answer, because each study came back and said a larger facility was not sustainable.  In fact, the recommendations have been a 300 to 500 seat option and 1200 to 1800-seat option.  If you ask our opinion, they spent millions of that bond money on shopping studies, meaning research, consultants, and surveys.  Why, they needed “THE ONE” that supported the narrative, we need a 2800 to 3000 square feet facility to justify the boondoggle Broadway Ballot.

Remember how they have said no property tax dollars will be used on this project?  A Tax Reinvestment Zone captures growth in both sales and property tax value.  It can only be used to fund improvements for the properties inside its boundaries.  If they are using money from the TIRZ that is captures of property tax then they are using our dollars for this project.

Smoke, Mirrors, and Marquee Dreams:  A vote “YES” just takes us to the next step! If you have been following the meetings for this opportunity, then you have heard each of them say “This is a vote to go forward to the next step.”  This is the definition of a misleading statement filled with false impressions and the intent to deceive or mislead the voters.  Context matters! 

This is a NOT a vote to “go to the next step” it is a major vote to change the use of Economic Development Funds.  THIS VOTE SETS A PRECEDENT ON USING EDC FUNDS FOR NON-TRADITIONAL USES.  The city is COMMITING FUNDS, which enables them to get a contract done (meaning we have no contract now) to SECURE AN OPERATOR.  No money = No Operator. 

A vote “YES” will put a burden on the CDC and EDC and burn a lot of potential future opportunities that could significantly contribute to the tax base and sales tax base in Frisco.  The ever-growing debt burden will impact future projects.  So this is not a vote to just go forward to the next step.  If it was they would not be trying to sell it so hard like used car salesman. 

Let’s close this one out!  Money matters and we are already carrying a $1.47 Billion Dollar Burden!  We have not even touched on the other issues and concerns yet, of which there are several.  Numbers don’t lie!  No matter which way the city tries to sell this to residents it is FISCALLY IRRESPONSIBLE to bring a project like this to voters and mislead them with a vote yes in may is just a vote to allow us to move to the next step. Once they change the use of the EDC funds nothing will stop Cheney or Tammy Meinershagen (who apparently wants to be our next Mayor) for going all the way. Is that a burden you are willing to carry?