Prosper Independent School District will not be getting its new $94 million football stadium. According to unofficial voting results, 55.12% of voters were against the stadium, which would have been the most expensive in Texas by $14 million.
As Local Profile previously reported, the stadium would have included 8,000 seats, located at the Richland High School site at Teel Parkway and First Street, where the district already owns the land.
The district said the massive bond would not raise taxes in the city and promised a “zero-tax-rate” bond. Taxes would not increase because the district is currently operating at its maximum allowable level of outstanding debt. Prosper ISD is $1.6 billion in debt from previous bond issuances.
The district said the majority of taxpayers will not bear the burden of paying for these bonds, as their expenses would be offset by the increased taxable income generated by new construction, an expanded commercial tax base, new residential properties and the growth in existing property values.
"The cost associated with the stadium is the best estimate based on inflation and increased construction costs," Prosper ISD Chief Communications Officer Rachel Trotter previously told Local Profile. "It is our hope that when construction begins on the stadium in 3-5 years, the economics driving increased costs will have slowed."
According to Trotter, events such as graduation, marching band competitions, JROTC, summer camps, field days and much more would take place at the new stadium.
"It is important to note that we consider the stadium as a classroom," Trotter said. "Our current stadium, as would this stadium, be used for various purposes throughout the year."
The district’s $2.8 billion bond package, which included funds for the football stadium (Proposition C), also included three other propositions that would fund future expansion (Proposition A), technology (Proposition B) and academic programs (Proposition D).
Unofficial results show 65.15% voted in favor of Proposition A, 64.24% voted in favor of Proposition B and 55.81% voted in favor of Proposition D.
