Help bring a beautiful project to the Gateway of Wylie!
I the undersigned believe The District Development will bring needed restaurants, shopping, entertainment and employment to our city. In addition, the added Property Tax Revenue for our school district will help us upgrade our schools' facility and the Property and Sales Tax Revenue to our city could help us lower taxes in the City of Wylie. Therefore, I encourage the Mayor and City Council to approve the project and the Wylie ISD Superintendent and School Board to support this project.
The District is a themed lifestyle destination focused on High Quality Decor, Living, Family and Entertainment where people walk around and enjoy. It will be similar to Watters Creek in Allen and The Shops at Legacy in Plano.
$1,200,000 of Property taxes and Sales Tax Revenue Net (after cost of services) to city:
$1,200,000 in added Property Tax to School
- Improved School facilities
- Payoff Bond Debt
- Increase Property tax revenue by 1.7% without increasing resident taxes
$2 Billion Leakage in Wylie ($227 Million Restaurant and Over $500 Mil Retail)
- Some restaurants are committed or interested in the District ($227 Mil Leakage,($ going to other areas))
- Keep tax dollars in Wylie
- Attract residents from surrounding cities
- Stay in Wylie to work with Office and potential professional jobs
Townhomes and Condos:
- Townhomes are all above the average home price of Wylie
Development Added Value to City:
- No incentives or reimbursements have been given to the Developer