Council members told staff to pursue marketing options to attract a hotel, supporting retail and townhome development on land identified in the 2018 Oak Point plan surrounding the Plano Event Center and green. The discussion did not produce a vote to sell; rather council indicated support to issue a request for proposals to solicit buyers and return with a resolution and terms for council action.

Peter Braster, director of special projects, reviewed the Oak Point plan and a prior market analysis that recommended hotel size, restaurant and retail square footage to support the Plano Event Center. Braster said the original study included a baseline and an “optimal” scenario calling for a large hotel (the study’s 300‑room scenario) and about 12,000–15,000 square feet of retail near the green. He told council that hoteliers generally prefer a land sale to a ground lease and that a sale would be accompanied by deed restrictions to preserve hotel uses: “The hoteliers are not comfortable with ground leases per se,” Braster said.

Council members asked about advantages and disadvantages of a sale versus a ground lease, whether deed restrictions could require a hotel quality level and prevent later conversion to other uses, and whether phasing would be acceptable. Staff said deed restrictions could restrict permitted uses in perpetuity unless council later acted to release them, and that sale proceeds would be returned to the Plano Center budget for uses such as future parking garages. Staff also told council that a phased approach to hotel size and incremental retail or housing build‑out would be feasible.

Council members asked about prior efforts to procure a hotel and why previous proposals did not proceed; staff said past proposals failed to secure financing and that ownership structure was one of several factors. Braster said some retail parties have indicated interest, though not yet firm hotel bidders.

Council directed staff to prepare the materials necessary to solicit interest and to place a nomination/resolution for appraisal‑district appointments on a future agenda; several council members said they would like staff to proceed with a marketing approach that favors sale with deed restrictions rather than a long ground lease. Staff said they would return with a formal request for proposals and recommended terms for council review and action.