Council OKs Incentive Package for Project Titan
City of Farmers BranchCity · Farmers Branch, TX- Disclosed value
- Annual grants equal to 100% of incremental property taxes for 5 years; facade grants of $50,000 for each of two buildings; annual grants equal to 100% of the City 1% sales tax on construction materials for 2020–2026
- From minutes
- Document date
- Aug 3, 2021
- Renews
- Free account
The 30-second brief
Farmers Branch City Council authorized the City Manager to negotiate and execute an economic development agreement for Project Titan, offering multi-year tax rebates, facade grants totaling $100,000, and sales tax incentives on construction materials. The incentives require the company to own and operate its business in the city through December 31, 2031.
Project Titan holds this financial services contract with City of Farmers Branch. Its other public contracts on record include work for Burlington Housing Authority and City of Burlington.
The renewal date is on record. A free account shows it, with the renewals for every City of Farmers Branch contract.
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Contract details
- Contract type
- Financial Services
- Amount
- Annual grants equal to 100% of incremental property taxes for 5 years; facade grants of $50,000 for each of two buildings; annual grants equal to 100% of the City 1% sales tax on construction materials for 2020–2026
- Document date
- August 3, 2021
- Term
- Property and personal tax rebate grants for 5 years above base year 2022; sales tax rebate on construction materials for 2020–2026; company must own and operate business through December 31, 2031
- Renews
- Free account
- Vendor
- Project Titan
- Agency
- City of Farmers Branch
- Source document
- city_council_meeting_minutes_august_3_2021.pdf (Minutes)
Project Titan's other public contracts
More City of Farmers Branch contracts
Questions about this contract
Who was awarded the financial services contract by City of Farmers Branch?
Project Titan was awarded this financial services contract by City of Farmers Branch, as recorded on August 3, 2021. The contract value is Annual grants equal to 100% of incremental property taxes for 5 years; facade grants of $50,000 for each of two buildings; annual grants equal to 100% of the City 1% sales tax on construction materials for 2020–2026.
How much is the Project Titan contract with City of Farmers Branch worth?
The Project Titan contract with City of Farmers Branch is valued at Annual grants equal to 100% of incremental property taxes for 5 years; facade grants of $50,000 for each of two buildings; annual grants equal to 100% of the City 1% sales tax on construction materials for 2020–2026, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a minutes record.
Where was this contract approved?
This contract appears in city_council_meeting_minutes_august_3_2021.pdf (Minutes), dated August 3, 2021 from City of Farmers Branch. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Project Titan hold?
Project Titan may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Farmers Branch currently buying?
Explore City of Farmers Branch's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.