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Department: Economic Development
Director: Michael Talley, Director of Economic Development
Agenda Item: Economic Development Incentive Agreement for FleetPride, Inc.
Recommended Action: Approval of Contract/Agreement
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Item Summary
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To approve an Economic Development Incentive Agreement between the City of Plano, Texas, and FleetPride, Inc., an Alabama corporation (“Company”); and authorizing the City Manager or his authorized designee to execute all necessary documents.
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Background
This agenda item represents a request to approve an Economic Development Incentive Agreement for FleetPride, Inc. , an Alabama corporation, pursuant to Chapter 380 of the Texas Local Government Code and conditioned on the terms as set forth in the attached agreement. FleetPride, Inc. agrees to occupy a minimum of 83,939 square feet of office space at 5601 Granite Parkway, Plano, TX 75024 and construct or cause to construct real property improvements with a minimum capital investment of $2,000,000 on the Real Property by December 31, 2027.
Financial Summary/Strategic Goals
Funding for this item is available in the 2026-27 Economic Development Fund. This item, in the amount of $400,000, will leave an unencumbered balance of $24,430,514 available for future project consideration.
Approval of this Agreement supports the City’s Strategic Plan Critical Success Factor of Residential and Commercial Economic Vitality.
Attachments
Agreement