City of Plano staff has been in negotiations with the property owner of the former J.C. Penney Campus now known as the Park at Legacy since July 2024 to acquire property at the southeast corner of Legacy Drive and Headquarters Drive for a future park site.  The result of these negotiations is a Purchase and Sale Agreement for 5.132 acres at the identified location with the following key terms:

- The City of Plano will pay $19,001,743 for the property in its present condition.

- The City commits to a 9 week feasibility period followed by a closing period of 2 weeks.

- Future use of the property will be deed restricted to use as a public park and require the City to maintain the park in a first-class manner at or above the standard of other parks within the City of Plano, as well as develop the park property in a manner consistent with surrounding properties within Legacy West.

- The City will either construct or participate in the construction of internal drives that delineate the park property, including on-street parking.  The agreement states the City intends to construct the internal drives, with the Seller entitled to credit against future City fees associated with its development should it construct the internal drives.

- The Seller will deposit $400,000 funds in escrow  as fiscal surety to ensure completion of the internal drives, to be released upon the internal drives being open to vehicular traffic or the City undertaking construction of the internal drives.

- The City agrees to install a screen wall, fence with landscaping or other landscape buffers required by the City's Subdivision Ordinance relating to park screening requirements.