Former Frisco Mayor Mike Simpson, the executive director and chief fundraiser for the embattled Art Center of North Texas, has resigned a week ahead of a board meeting to discuss new directions for the collapsing project. Proposed for a developer-friendly site and “nearly ready to break ground” in 2010, the $60 million project was scuttled when the city of Frisco declined to approve a bond issue to fund its share. With a multimillion-dollar naming rights sponsor lined up, but little community support, the center will decide whether to retrench, tread water, or simply dissolve at the meeting scheduled for Feb. 16 at 4 p.m. at Allen City Hall.