To approve an Economic Development Incentive Agreement between the City of Plano, Texas, and Raising Cane’s Restaurants, L.L.C., a Louisiana limited liability company (“Company”), providing an economic development grant to the Company; and authorizing the City Manager to execute all necessary documents. Approved

This agenda item represents a request to approve an Economic Development Incentive Agreement for Raising Cane’s Restaurants, L.L.C., a Louisiana 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. Raising Cane’s Restaurants, L.L.C. agrees to purchase and occupy 394,405 square feet of office space at 5320 Legacy Drive, Plano, Texas 75024, construct real property improvements with a minimum value of $20,000,000.00, and transfer, retain or create up to 1,020 Full-Time Job Equivalents by January 31, 2035.

Funding for this item is available in the 2023-24 Economic Development Fund. This item, in the amount of $6,168,145, will leave an unencumbered balance of $43,068,898 available for future project consideration.  

Approval of this Agreement supports the City’s Strategic Plan Critical Success Factor of Residential and Commercial Economic Vitality.