Lancaster Economic Development Corporation Agenda Packet June 2024
LEDC Approves $80,000 Incentive for Noble Lancaster Starbucks Project
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Description
The Lancaster Economic Development Corporation approved a Performance Agreement with Noble Lancaster, LLC for up to $80,000 to support construction of a new Starbucks facility near Interstate Highway 20 and Houston School Road. The agreement requires Noble Lancaster to invest at least $200,000 and operate the facility for at least 10 years, with project completion and occupancy by December 31, 2025.
Contract Details
Contract Amount
Not to exceed $80,000
Vendor
NOBLE LANCASTER LLC
Agency
City of Lancaster, TX
Contract Type
OTHER
Document Date
June 27, 2024
Contract Term
Effective upon City Council approval; ends December 31, 2030, unless terminated sooner
Renewal Date
2030-12-31
Renewal Info
Agreement term runs through December 31, 2030, unless terminated earlier per default/termination clauses. No automatic renewal; early termination for default possible.
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