DALLAS — Frisco, Texas will provide $115 million of public financing for a Dallas Cowboys training facility that includes a domed football stadium to be shared by the school district.
The city in the north Dallas suburbs and Frisco Independent School District agreed Monday to build a $90 million indoor stadium and parking garage and a $25 million headquarters building for the National Football League team.
The training complex is expected to be completed by fall 2016.
The Cowboys will be responsible for any costs above the $115 million pledge. The team will operate and maintain the complex.
The agreement with three companies controlled by the family of Cowboys owner Jerry Jones was approved Monday night. The proposal passed unanimously at meetings of the Frisco City Council, two city development panels, and school district trustees.
The enclosed football stadium, outdoor practice fields, and parking structure will occupy 25 acres of the 91-acre site. The Jones family companies will develop the remaining 66 acres.
Frisco Mayor Maher Maso said he expects additional investments in the training complex will be made by the team.
The Cowboys complex will be "very special, very unique" when completed, Maso said.
"The Cowboys have never failed to invest in their facilities, never failed to invest in their programs," Maso said. "We look forward to working with them as we explore how special we can make this."
At a Tuesday morning news conference, Jones promised additional but unspecified amenities.
"We will do it right," Jones said. "You are committing taxpayer dollars to betting on the Dallas Cowboys, and we will make you happy with that."
Jones declined to be specific about the team's planned investments, but reminded reporters that the Cowboys committed to matching Arlington's $325 million of bond proceeds when it built what is now known as AT&T Stadium, the Cowboys' home field. Instead, he said, the team's contribution topped $900 million.
"We always over-perform when it comes to spending money," Jones said.
Frisco council member Scott Johnson said the deal was good news for the growing community of 120,000 residents some 25 miles north of downtown Dallas.
"At the end of the day, the Dallas Cowboys are the biggest franchise in the world," Johnson said. "They are the greatest sports franchise in the history of the world.
"I'm proud to bring America's Team here, and I welcome the Jones family to Frisco."
An economic analysis commissioned by the city said development of the 91-acre site would generate $1.26 billion in sales tax revenues over the next 30 years. Total economic impact is estimated at $23.4 billion.
Funding the stadium and headquarters building will not require an increase in city or school district property tax rates, officials said.
The city and the school district will each provide $30 million for the stadium and parking facilities from property tax revenues generated through a tax increment financing district that includes a large upscale mall.
Frisco Community Development Corp. will fund $25 million of the stadium complex costs from its 0.5% sales tax and obligations it can issue supported with those revenues. Current collections from the tax are approximately $11 million a year.
Frisco Economic Development Corp. agreed to fund $5 million of infrastructure improvements and the $25 million office building for the Cowboys with its share of the local sales tax.
The agreement is a "slam dunk" for the city but even more so for the school district, said James Gandy, president of the development corporation.
"There hasn't been a partnership like this for a school district and a professional football team in a number of years," Gandy said. "As economic projects go, it just doesn't get any better than this."
Superintendent Jeremy Lyons said the Frisco district will also use the stadium for graduation ceremonies, marching band contests, and soccer games.
