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Department: Economic Development
Director: Michael Talley, Director of Economic Development
Agenda Item: Economic Development Incentive Agreement for Daisy Brand, LLC
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 Daisy Brand, LLC, a Texas limited liability company (“Company”), providing an economic development grant to the 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 Daisy Brand, LLC, a Texas 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. Daisy Brand, LLC agrees to occupy a minimum of 54,498 square feet of office space at 5850 Granite Parkway, Plano, Texas 75024 and construct or cause to construct real property improvements with a minimum capital investment of $10,000,000 on the Real Property by December 31, 2027.
Financial Summary/Strategic Goals
Funding for this item is available in the 2025-26 Economic Development Fund. This item, in the amount of $500,000, will leave an unencumbered balance of $26,624,514 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