Global Entertainment, armed with a hockey franchise offer, had been in talks with city officials about the 7,500-seat center for some time, but zeroed in on MGHerring's 400-acre mixed-use project, which straddles the cities of Allen and Fairview, in January. Meanwhile, MGHerring proceeded as planned, breaking ground in March on its massive mixed-use development. "Part of our challenge was we had broken ground with our project and the retail was under way," Gar Herring, president of the Dallas-based MGHerring Group, tells GlobeSt.com. "Incorporating a project of this magnitude was challenging to do without slowing down our development. Now, we have a solution that works for all our parties."

City council blessed the pact last night. The agreement, now just a letter of intent, calls for the city to kick in $20 million of infrastructure and parking with MGHerring putting in $23 million up front, which will be reimbursed from an existing half-cent sales tax. The city will float a $47-million bond package to underwrite its share of the deal as owner of the event center, two proposed parking structures and all surrounding infrastructure.

"A regional event center has been on the Allen City Council's strategic plan for many years," Allen Mayor Stephen Terrell says in a press release. "The public-private partnership of the project will create a first-class entertainment and sports venue without creating an impact to local taxes."