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- Tennis Center Bond Election 2023
Tennis Center Bond Election 2023
Flower Mound Town Council voted to place Proposition A, related to the construction of a possible tennis center in Flower Mound, on the upcoming May 6 bond election ballot. If approved by voters, Proposition A will issue $7.5 million in general obligation bonds toward the cost of designing, constructing, and equipping a proposed tennis center. To learn more about the history of Proposition A and what led to it being placed on the upcoming ballot, click here.
The issuance of a $7,500,000 General Obligation Bond for parks and recreation facilities, to-wit; a community tennis center and the imposition of a tax sufficient to pay the principal of and interest on the bonds.
Proposed Tennis Center
The proposed tennis center would be built at Trotter Park (4551 Cross Timbers Rd.) in Flower Mound, which totals 13.11 acres of undeveloped Town-owned land. The center's design could include 16 lighted tennis courts, 12 lighted pickleball courts, a club house with restrooms, a playground, walking trails, parking, and landscaping. For more on the possible design of the center, see the renderings below. The proposed center and these possible design elements are the result of a tennis center feasibility study conducted by PROS Consulting, Inc. To see the findings from that study, click here.
The tennis center is projected to cost $15 million to design, construct, and equip. If approved, Proposition A would authorize $7.5 million of that cost to be paid from the general obligation bonds. Repayment of the general obligation bonds is anticipated to come from the Town's 4B Sales Tax revenues and ad valorem tax revenues, also known as property taxes. The remaining $7.5 million in cost will be cash contributions from the proposed fund balances of the General Fund, 4B Sales Tax Fund, and the Park Development Fund.
|Estimated Operating Revenue in the First Year||$609,250|
|Estimated Operating and Maintenance Cost in the First Year||$719,423|
|Projected Operating and Maintenance Cost Recovery in the First Year||84.6%|
Impact to Flower Mound Residents
The Town plans to repay the $7.5 million in general obligation bonds with a combination of 4B Sales Tax revenues and ad valorem tax revenues, also known as property taxes. If repayment is issued equally between funds, the projected impact on property tax would be $0.0022. Based on an average home value of $448,540, that would amount to an extra $0.82 a month or $9.87 a year for Flower Mound residential properties with that average value.
4B Sales Tax
Flower Mound's 4B Sales Tax dedicates one-fourth of one percent of sales tax collections to park and recreation improvements. The Section 4B sales and use tax was voted on and approved by Flower Mound voters on Nov. 6, 2007.