| | | | | | | |  |
CITY COUNCIL AGENDA MEMO |
|
| | | | | | | | | MEETING DATE: | 1/24/2022 | | DEPARTMENT: | Eco Dev | | DIRECTOR: | Sally Bane, Director of Economic Development | | AGENDA ITEM: | Revised and Restated Economic Development Incentive Agreement for Shutterfly, LLC. | | RECOMMENDED ACTION: | Approval of Contract / Agreement |
|
| | | | | | | | ITEM SUMMARY To approve a Revised and Restated Economic Development Incentive Agreement between the City of Plano, Texas, and Shutterfly, LLC, a Delaware limited liability company (“Company”), providing an economic development grant to the Company; and authorizing the City Manager to execute all necessary documents. Approved |
| | | | | | | | PREVIOUS ACTION/PRESENTATION On April 22, 2019 the City Council approved an Economic Development Incentive Agreement by and between the City of Plano and Shutterfly, LLC, a Delaware limited liability company. |
| | | | | | | | BACKGROUND A request to approve a Revised and Restated Economic Development Incentive Agreement for Shutterfly, LLC, a Delaware limited liability company, pursuant to Chapter 380 of the Texas Local Government Code and conditioned on the terms as set forth in the attached agreement. Shutterfly, LLC, agrees to occupy at least 235,000 gross square feet of office, distribution and manufacturing space at 4012 14th Street, Plano, TX, and transfer or create up to 272 Full-Time Job Equivalents at the Real Property by December 31, 2021.
https://tinyurl.com/2p9fr6us |
| | | | | | | | 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. |
|