City Budget | Frisco Chronicles (2024)

The other day my wife said, drive me to Bath and Body, I want some of those pretty smelling hand soaps. I told her no drive yourself because I hate those soaps! Next I heard the car starting in the garage, so I ran outside and said wait a minute let me get my shoes I will drive you. My wife drives like a blind armadillo. Even if she had a self-driving Tesla she would still manage to play whac-a-mole with it. Walking into the store you are instantly overcome by the scents which in my opinion is worse than Old Spice on a hairy hooker. She starts talking to herself, “I wonder what Mimosa Spearmint or Eucalyptus Lavender smell like?” I said just buy some soap but no, we must smell every soap while I hear her utter words like aromatherapy, stress relief, and serenity. Finally, we got to the register where the young girl (couldn’t be more than 20) said that would be $89.75. Then she said would you like to pay with cash, credit or apple pay. Apple what? I pulled out my check book in my nice little red vinyl cover with my check register attached and began to write a check. Now I know we have dumbed down our youth in today’s world, but when I handed her the check, she said, “What is this and what kind of wallet is that red thing?” I said it’s a checkbook and her face turned ghost white like she had seen E.T. riding off into the dark night on a witch’s broom. She called a manager over and asked do we take these things called checks? I looked at my wife and I said I will be waiting in the car!

It is sad in today’s world kids don’t know what a check is or how to balance an account with a check register booklet. My point in telling you this is I was surprised to learn that the City of Frisco has their Check Register online for each year so you can see a list of all the payments incurred during a quarter by the city. It includes payment date, payee, amount, and type of expenditure. The city’s website reads, “in an effort to be transparent and accountable to our citizens (well that’s a first), the City of Frisco is posting check register reports showing payments made by the city.”

We downloaded each year, and I noticed under descriptions some of them said Economic Incentives and Sales Tax Grants. An example of an incentive is a government giving a major company tax breaks in exchange for them building an office or plant in their city. The goal is for incentives tostimulate the economy in that area by empowering the company to provide jobs, as well as make goods or services available for purchase.

A few caught our attention, the first being Careington Intl Corp. If our research is right then the CEO is local resident Barbara Fasola who is a donor to Cheney and main of his friends’ political campaigns. We also believe her husband does or did in in the past sit on the Frisco Economic Development Corporation. There is an economic incentive payment in March 2018 for $76800 and February 2019 for $48000.

Then you have New Reunion Title LLC which received an economic incentive in February 2020 for $9,184,546.67. Then we noticed an incentive paid to CLMG Corporation in March 2020 for $1,726,128.00 followed by one in June 2020 for New Reunion Title LLC for (1,726,128.00). We found this one odd as it is the same exact amount to the decimal point as the payout to CLMG Corporation.

Well in researching New Reunion Title LLC it shows they are headquartered in Plano and have an office in McKinney. Strangely enough the location is inside the Abernathy Law Office, which is our city attorney. We tried to do a document search and meeting search, but we could not find any incentive agreements on either company. Who is CLMG Corporation? The only thing we could really find on CLMG is a DMN article about a massive Plano development threated with foreclosure. The article states Dallas-based Beal Bank and its Plano-based commercial loan service company, CLMG Corp had quietly served notice to sell the old JCP headquarters project at a foreclosure auction. Why are we giving over $9 Million in economic incentives to a title company? What does CLMG corporation have to do with Frisco? We are trying to uncover that now so we will keep you updated.

Then there are those you just say, “things that make you go hmm?” For example, BMC Stock Holdings Inc which is based out of Georgia which has something to do with building materials which was paid over ½ million in incentives? Who is Frisco Square Developers and why were they paid economic incentive payments for $325k and $86.5K in 2018, $390k in 2019 and 2020? Another that sparked our interested was Social Finance, who received $80k in 2020 in economic incentives. A article in Community Impact states that Social Finance offers services in student loan refi’s and they will occupy 1200 square feet and employ 10 full time employees. That is a large economic incentive for 10 full time jobs.

Others make sense and we agree are positive economic incentives for companies like Costco, Drury, and T-Mobile USA and DPS Holdings (DRPepper), both have a large building just off the tollway where they have created several hundred jobs in our city. Then you have several payouts to Blue Star those all are Jerry Jones companies and they have brought a large economic boom to our community.

Grab a Manhattan co*cktail and click the link above and take time to look over the city register online. You might find something that look interesting to you. If you do let us know. I am sure we will be back more as we continue to dig into the City of Frisco’s register online.