FINANCIAL_SERVICESAMENDED

City of Lancaster Economic Development Corporation Agenda May 2026

Amended Incentive Agreement for Noble Lancaster Starbucks Project

not to exceed one-hundred fifty thousand dollars ($150,000)City of LancasterNOBLE LANCASTER LLCMay 17, 2026

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Description

The Lancaster Economic Development Corporation will vote on an amended and restated Performance Agreement with Noble Lancaster, LLC for an economic development grant of up to $150,000 to support a new Starbucks-anchored retail project near I-20 and Belt Line Road. The ten-year agreement is funded from dedicated sales tax revenues and is projected to spur a $2.1 million investment and substantial new tax revenue.

Contract Details

Contract Amount

not to exceed one-hundred fifty thousand dollars ($150,000)

Vendor

NOBLE LANCASTER LLC

Agency

City of Lancaster, TX

Contract Type

FINANCIAL_SERVICES

Document Date

May 17, 2026

Contract Term

Ten-year term of the Development Agreement, anticipated through June 30, 2028

Renewal Date

2028-06-30

Renewal Info

Amended and restated performance agreement replacing a prior Noble Lancaster incentive agreement; ten-year development term with performance milestones including completion of improvements and opening by June 30, 2028. No explicit renewal options noted.