Plano City Council approves tax rebate for Core Weave and abandons Thirteenth Street land

The Plano City Council made significant strides in economic development during their recent meeting on April 28, 2025, approving a revised economic development incentive agreement with Core Weave Incorporated. This agreement, which spans tax rebates for the years 2024 to 2031, aims to bolster local economic growth and job creation. The council voted 7-0 in favor, with one member recusing himself from the vote.

In addition to the economic incentive, the council addressed a land use issue by approving the abandonment of a portion of Thirteenth Street right-of-way, totaling approximately 0.187 acres. This decision allows the city to relinquish its interest in the land to Bayman Serval LP, the adjacent property owner, facilitating redevelopment efforts in the area. The appraised value of the abandoned right-of-way is estimated at $96,000.

During discussions, concerns were raised regarding the implications of abandoning this land, particularly in relation to the city’s thoroughfare plan. A resident expressed worries that the decision could complicate future street alignments in the downtown area. However, city officials clarified that the abandoned section is strategically located and aligns with ongoing redevelopment plans.

The council's decisions reflect a commitment to fostering economic development while navigating the complexities of urban planning. As Plano continues to grow, these actions are expected to enhance the city’s infrastructure and support its evolving landscape. The council will monitor the outcomes of these initiatives as they move forward, ensuring that community interests remain a priority.