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GARLAND CITY COUNCIL STAFF REPORT
			Agenda Item 5.
City Council Regular Session
Meeting Date: 09/03/2024   Title:    Request for Development Assistance from DDI Garland, LLC Submitted By: Ayako Schuster Strategic Focus Area: Growing Economic Base
Issue/Summary
Council is requested to consider a development incentive request from DDI Garland, LLC in regard to a proposed data center development.
Background
DDI Garland, LLC, plans to construct an approximately 172,000 SF Data Center facility. This new facility is the first building of a larger data center campus for Digital Realty which will have Wells Fargo as the tenant. The development will involve approximately $117 Million in capital investment. At full build-out, the tenant will bring approximately $328 Million in additional capital investment.
Consideration / Recommendation
Approval of the incentive agreement with DDI Garland, LLC. Agreement includes: a rebate of development fees up to $500,000, a 2-year rebate of 40% of taxes collected due to developer’s business personal property, and a 4-year rebate of 40% of taxes collected due to developer’s real property taxes collected.
Attachments Proposed Economic Development Incentive Agreement

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