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CITY COUNCIL AGENDA MEMO |
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| | | | | | | | | MEETING DATE: | 10/11/2021 | | DEPARTMENT: | Eco Dev | | DIRECTOR: | Sally Bane, Director of Economic Development | | AGENDA ITEM: | Economic Development Revised and Restated Incentive Agreement for Ryan, LLC, a Delaware corporation. | | RECOMMENDED ACTION: | Approval of Contract / Agreement |
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| | | | | | | | ITEM SUMMARY To approve a Revised and Restated Economic Development Incentive Agreement between the City of Plano, Texas, and Ryan, LLC, a Delaware corporation (“Company”), providing an economic development grant to the Company; and authorizing the City Manager to execute all necessary documents. Approved |
| | | | | | | | PREVIOUS ACTION/PRESENTATION On December 17, 2019, the City Council approved an Economic Development Incentive Agreement by and between the City of Plano and Ryan, LLC. |
| | | | | | | | BACKGROUND A request to approve a Revised and Restated Economic Development Incentive Agreement for Ryan, LLC, a Delaware corporation, pursuant to Chapter 380 of the Texas Local Government Code and conditioned on the terms as set forth in the attached agreement. Ryan, LLC agrees to occupy at least 200,000 gross square feet of office space on the southeast corner of Texas State Highway 121 and Communications Parkway, Plano, Texas and transfer, create and maintain a payroll of 550 Full-Time Job Equivalents whose assigned work location is at the Property.
http://bit.ly/2KyUGlg |
| | | | | | | | FINANCIAL SUMMARY/STRATEGIC GOALS This item has no financial impact.
Approval of this Agreement supports the City’s Strategic Plan Critical Success Factor of Residential and Commercial Economic Vitality. |
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