Mustang Panther Stadium will receive a facelift in time for the 2018 football stadium, thanks to $18 million left over from the Tax Increment Finance (TIF) Zone for Grapevine Mills.
Grapevine-Colleyville district officials announced the upgrades Friday night during half time of the rivalry game between Grapevine High School and Colleyville Heritage High School (Grapevine won 49-34).
In addition to renovations of the entrance, press box, scoreboard, home side grandstand, restrooms and concession stand, officials earmarked $6 million from the May bond election to fund concrete repairs at the stadium.
During the announcement video shown at Mustang-Panther Stadium, Superintendent Robin Ryan said the brick front and high-arched entry would evoke “a feeling of nostalgia.”
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Ryan said the design also would include a “hall of honor to recognize notable alumni and staff from GCISD.”
The 1996 TIF agreement with the City of Grapevine to bring Grapevine Mills to the area expired this year, generating a total of $26 million for the school district. The funds can only be used within Grapevine city limits for features that benefit the entire community.
The remaining $8 million in TIF money will go toward other joint-use educational facilities and a fiber optic network with the City of Grapevine.
By using the TIF funds for capital improvements instead of putting them in the general operating budget, Grapevine-Colleyville schools don’t have to send a big percentage back to the state as part of Robin Hood, officials said.