File #: ID 25-1871    Version: 1 Name:
Type: Ordinance
File created: 10/1/2025 In control: City Council
On agenda: 12/16/2025 Final action:
Title: Consider adoption of an ordinance of the City of Denton approving an economic development agreement under Chapter 380 of the local government code to promote economic development and to stimulate business activity and economic growth of the City of Denton between the City of Denton and Novartis Gene Therapies, Inc., regarding the expansion of operations and increase in the number of jobs in the City of Denton; authorizing the expenditure of funds therefor in an amount not-to exceed $894,688; authorizing the city manager to take action to facilitate the remediation of property in furtherance of said agreement; and providing an effective date. The Economic Development Partnership Board recommends approval (9-0).
Attachments: 1. Exhibit 1 - Agenda Information Sheet, 2. Exhibit 2 - Incentive Evaluation Matrix, 3. Exhibit 3 - Economic Impact Summary, 4. Exhibit 4 - Ordinance and Agreement, 5. Exhibit 5 - Presentation
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AGENDA CAPTION

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Consider adoption of an ordinance of the City of Denton approving an economic development agreement under Chapter 380 of the local government code to promote economic development and to stimulate business activity and economic growth of the City of Denton between the City of Denton and Novartis Gene Therapies, Inc., regarding the expansion of operations and increase in the number of jobs in the City of Denton; authorizing the expenditure of funds therefor in an amount not-to exceed $894,688; authorizing the city manager to take action to facilitate the remediation of property in furtherance of said agreement; and providing an effective date. The Economic Development Partnership Board recommends approval (9-0).

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