To approve a Revised and Restated Economic Development Incentive Agreement between the City of Plano, Texas, and Capital One, National Association, a national banking association ("Company"), providing an economic development grant to the Company; and authorizing the City Manager to execute all necessary documents. Approved

On November 8, 2010 the City Council approved an Economic Development Incentive Agreement by and between the City of Plano and Capital One, National Association, a national banking association, which was further amended on November 9, 2015.

A request to approve a Revised and Restated Economic Development Incentive Agreement for Capital One, National Association, a national banking association, pursuant to Chapter 380 of the Texas Local Government Code and conditioned on the terms as set forth in the attached agreement. Capital One, National Association, agrees to occupy at least 335,000 gross square feet of office space at Building 3, located on 7941 Preston Road and Building 7, located on 8066 Dominion Parkway, Plano, TX, and transfer, create and maintain up to 4,700 Full-Time Job Equivalents at the Campus for the term of the Agreement.

https://tinyurl.com/2p942p34

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.