Title
Consider approving Resolution No. 2026-003 authorizing the City Manager to negotiate and execute an Economic Development Agreement with Southwest Convenience Stores, LLC; and take appropriate action.
Body
REQUESTOR:
City Council
BACKGROUND:
The company, Southwest Convenience Stores LLC, has or intends to lease property located at 5001 LBJ Freeway, Suite 950, 9th Floor, with approximately 10,678 square feet of leasable space for a period of at least ninety (90) months.
DISCUSSION:
The proposed Resolution No. 2026-003 authorizes the City Manager to negotiate and execute an Economic Development Agreement with Southwest Convenience, LLC, to support the company's future investment in the City of Farmers Branch.
Southwest Convenience Stores LLC has expressed its intent to relocate its headquarters within the City of Farmers Branch, contingent upon the City providing an economic development grant to the company. The new agreement is structured to:
• Provide an economic development grant pursuant to Chapter 380 of the Texas Local Government Code;
• Ensure a competitive economic position for the City to have a new company headquarters lease approximately 10,678 square feet of leasable space (hereinafter referred to as the “Premises”) for a period of at least ninety (90) months.
The City’s legal authority to enter into such agreements is granted under Article III, Section 52-a of the Texas Constitution and Chapter 380 of the Texas Local Government Code, which provides economic development grants to promote local economic development and stimulate business and commercial activity in the City.
DISTRICT:
District 4
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution No. 2026-003 as presented.
2. I move to approve Resolution No. 2026-003 with modifications.
3. I move to table the issue for further study or take no action.
ATTACHMENT(S):
1. Resolution No. 2026-003
2. Economic Development Incentive Agreement