STRATEGIC PRIORITY: Economic Development
AGENDA DATE: September 14, 2022
COUNCIL DISTRICT(S): 14
DEPARTMENT: Office of Economic Development
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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Authorize a Chapter 380 Economic Development Grant Agreement in the amount of $1,000,000.00 with Revantage Corporate Services, LLC or an affiliate in connection with jobs created and retained at a new corporate office in accordance with the City's Public/Private Partnership Program - Not to exceed $1,000,000.00 - Financing: Public/Private Partnership Fund
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BACKGROUND
Revantage Corporate Services, LLC ("Revantage") is a financial/real estate services firm headquartered in Chicago. Revantage serves the private Blackstone Group and its real estate partners. The company supports more than 4,300 assets and $153 billion in total enterprise value. In addition to its Chicago office, it has offices in New York, Luxembourg, Amsterdam, London, and Singapore. Services offered by Revantage include accounting, tax, treasury, legal, human resources, technology, valuations, portfolio reporting support services, data analytics, property technology, and risk control.
Earlier this year, Revantage approached the City about plans to expand its operations with a new corporate office in the city of Dallas. The cities under consideration for this office expansion, involving leased spaces, are Chicago, Atlanta, and Dallas. In Dallas, the locations under consideration are within the Dallas Central Business District and are as follows:
* 300 South Pearl Street (District 14)
* 2550 Pacific Avenue (District 2)
* 2601 Victory Avenue (District 2)
* 2699 Howell Street (District 14)
* 2828 Routh Street (District 14)
* 2323 Cedar Springs Road (District 14)
Revantage would lease a minimum of 50,000 square feet as its permanent Dallas office. The estimated capital investment of Revantage associated with the new leased space is approximately...
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