Prosper launches bond tracker
In November 2020, Prosper voters approved three bond measures to improve the Town of Prosper.
One bond was for Public Safety Improvements and was for $30 million. Another bond was for Parks and Recreation and was for an additional $30 million. The largest bond was for streets and transportation and was approved for $150 million.
The bond funds are released periodically over the next ten years. The first issuance of debt took place mid-August with the sale of $40 million in bonds. The funds from this first issuance will be used to construct a new Central Fire Station. Additionally funds will be used to continue the construction of Lakewood Preserve park and design Tanners Mill Park. Finally, a portion of these monies will be used for construction along Fishtrap Road from Stuber Elementary to the future Dallas North Tollway and construct First Street right of way acquisition.
The Town Council of Prosper has noted that infrastructure and roads will be a priority as Prosper continues to grow. A committee called the Citizens Bond Advisory Committee analyzed the current and future needs in Prosper and deemed that public safety, response time projections, current and future road conditions, and increased areas for recreation were vital to the quality of life for Prosper residents.
The 2020 bond program will continue with a ten-year implementation. The Town Council will review the current and future needs of the town at each phase of the issuance and, with the assistance of Town staff, will approve the next projects to receive bond funding.
Similar to the Infrastructure Tracker released earlier this year, the Town has created a Bond Tracking Dashboard. This tracker allows residents and staff to access updated information for each project and projected completion date. This can be found at on the town website, along with further information about the bonds at https://www.prospertx.gov/2020bondprogram/