RE 12-08-98.3 RESOLUTION NO. 120898.3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COPPELL,
TEXAS, APPROVING A SECOND AMENDMENT TO THE TAX ABATEMENT
AGREEMENT BY AND BETWEEN THE CITY OF COPPELL, TEXAS AND MEPC
QUORUM PROPERTIES 11, INC. DATED JULY 23, 1996; AUTHORIZING ITS
EXECUTION BY THE MAYOR; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council by Resolution No. 072396.3 approved a Tax Abatement
Agreement by and between the City of Coppell, Texas and MEPC Quorum Properties II, Inc.
dated July 23, 1996; and
W~iEREAS, the City and MEPC Quorum Properties II, Inc. desire to amend the Tax
Abatement Agreement dated July 23, 1996; and
WHEREAS, Section 312.208 of the Tax Code authorizes the modification of a tax
abatement agreement to include other provisions that could have been included in the original
agreement or to delete provisions that were not necessary to the original agreement;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COPPELL, TEXAS, that:
1. The Second Amendment to the Tax Abatement Agreement dated July 23, 1996, attached
hereto as Exhibit "A" having been found by the City Council to be in the best interest of
the City, be, and the same is hereby, in all things approved; and the Mayor is hereby
authorized to execute the Amendment on behalf of the City of Coppell, Texas.
2. The City Manager delivered to the presiding officer of the governing body of each taxing
unit in which the property subject to the Tax Abatement Agreement dated July 23, 1996
as amended herein, is located, a written notice that the City of Coppell, Texas, intends to
enter into the Second Amendment attached hereto. The notice given by the City Manager
included a copy of the Second Amendment.
3. This Resolution and the Second Amendment to the Tax Abatement Agreement are hereby
approved by the affirmative vote of the majority of the members of the City Council of the
City of Coppell, Texas, at a regularly scheduled meeting of the City Council.
4. This Resolution shall become effective immediately from and after its passage.
1 SS22203
DULY RESOLVED AND ADOPTED by the City Council of the City of Coppell,
Texas, onthlsthe ~Tt~ dayof /-.~ec'¢,~er- · 1998.
c ,aSY
ATTEST:
KATH~EEN ROACH, CITY SECRETARY
APPROVED AS TO FORM:
PE R~G S~~CITY ATTORNEY
(PGS/ttl 11/25/98)
2 SS22203
02103199 140z~057 $17.00
Deed
STATE OF TEXAS §
§ SECOND AMENDMENT TO TAX ABATEMENT
§ AGREEMENT BY AND BETWEEN THE CITY OF
§ COPPELL, TEXAS AND MEPC QUORUM
§ PROPERTIES H, INC. DATED JULY :23, 1996
COUNTY OFDAI,I,AS §
This Agreement is entered into by and between the City of Coppell, Texas (the "CITY"),
acting herein by and through its Mayor, and NWI Warehouse Group, L.P., successor in interest to
lV!EPC Quorum Properties II, Inc. CNwr'), acting by and through its authorized representative.
WITNESSETIt:
WHEREAS, on 23rd day of July, 1996, the City Council of the City of Coppell, Texas (the
"City Council") passed Resolution No. 072396.3, approving a Tax Abatement Agreement by and
between the City of Coppell, Texas and MEPC Quorum Properties 1I, Inc. (the "Tax Abatement
Agreemenf'); and
WHEREAS, on May 13, 1997, the City Council of the City of Coppell, Texas by Resolution
No. 051397-4 approved an amendment to the Tax Abatement Agreement; and
WHEREAS, the City of Coppell, Texas has consented to an assignment of the Tax
Abatement Agreement, as amended to NWI Warehouse Group, L.P.; and
WltF~REAS, the CITY and NWI desire to modify the terms of the Tax Abatement
Agreement as heretofore amended; and
WItF~REAS, Section 3 12.208 of the Tax Code permits the modification of a tax abatement
agreement to include provisions that could have been included in the original agreement or to delete
provisions which were not necessary to the original agreement; and
V~tE~REAS, in order to maintain and enhance the commercial and industrial economic and
employment base of the Coppell area, it is in the best interest of the CITY to enter into this second
amendment to the Tax Abatement Agreement; and
WIIEREAS, City Council finds that the Tax Abatement Agreement, as amended and as
modified herein and the property subject to the Agreement meet the C1TY's tax abatement guidelines;
and
WHEREAS, a copy of this second amendment to the Tax Abatement Agreement has been
furnished in the manner prescribed by the Tax Code to the presiding officer of the governing body of
Second Amendment to the Tax Abatement Agreement - Page 1 ss2~9~6
EXHIBIT "A"
99022 U5193
each taxing unit in which the premises, the subject of the Tax Abatement Agreement as heretofore
amended herein and is located;
NOW, THEREFORE, in consideration of the mutual benefits and promises contained herein
and for good and valuable consideration, the adequacy and receipt of which are hereby acknowledged,
the parties agree as follows:
1. Paragraph 12 of the Tax Abatement Agreement by and between the City of CoppelL
Texas and MEPC Quorum Properties II, Inc. dated July 23, 1996 as heretofore amended is hereby
amended to read as follows:
"12. Notwithstanding the above, the subsequent tax abatement entered imo for the
remaining portion of the Land will include a provision that the development of such
portion must include at least 125,000 square feet of distribution and light
manufacturing space with a total investment cost, inclusive of acquisition and
construction costs of approximately $5,000,000. Such additional abatement agreement
will require that development of the property covered thereby must be commenced
with one ( 1 ) year of the date of such agreement and the abatement will be for a term of
five (5) years beginning in the calendar year immediately succeeding the year in which
such agreement is executed. The abatement will be identical to the abatement provided
in Paragraph 6 above for the Premises; provided that the base year will be the year in
which the additional abatement agreement is executed. Upon the actual entering into a
new agreement for the second phase, such new agreement will supersede and replace
this paragraph with respect to such parcel."
2. Paragraph 2 of the Tax Abatement Agreement by and between the City of Coppell,
Texas and MEPC Quorum Properties H, Inc. dated July 23, 1996 as heretofore amended shall remain
in full force and effect except as amended herein.
3. A certified copy of this Agreement shall be recorded in the Deed Records of Dallas
County, Texas.
EXECUTED in duplicate originals, this 8"/'~ day of ~)e e e ~ ~ e --~ , 1998.
CITY OF COPPELL, TEXAS
BY: ~,~ ~
CANDY SHEEHAN, MAYOR
Second Amendment to the Tax Abatement Agreement - Page 2 ss=tg~6
EXMXBXT "A"99022 05 1
NOU 13 '98 16:23 FR NICHOLS 5CKSON DLLRD 214 965 0010 TO 9?268?000? P,21/23
ATTEST:
APPKOVED ASi TO FORM;
NWI WAREHOUSE GROUP, LP.
a Tennessee limited partnership
By: NWI X, L.P.,
its sole general partner
IOHN W. I~-TX,Y,
GENERAL PARTNBR.
By: GENERAL ~'ARTI~R ~
SecOnd Amendment ~o the Tax Abatement Agreement - Page 3 ss2xgx~
EXHIBIT "A"
99022 [i5195
NO~J ~] '98 ~6:2] FR NICHOLS ~CKSON DLLRD 2~4 965 0010 TO 9?268?000? P.22/23
C1TY'$ ACKNOWL~nG~
STATE OF TEXAS §
COUN'~ O~ DAILAS §
~s~~~~g~o~~s ~ ~yof ,~C'~~ 1~8
by c~ S~ E ~ a~ C~ of~ T~
--" ~..:~'~:;. 0:% ~ ~ ~
~ % ~,~~ '~:~"~A""'~ ,:
STA~ O~ ~ ~ ~ c ~
CO~ OF ~ ~- ~~
, f.,
~eeond Atnencknent to the Tax Abatement Agreement - Page 4 ss2~9~6
EXHIBIT "A"
99022 05196
NOU 1~ '98 16:23 FR NICHOLS JCKSON DLLRD 214 965 0010 TO 9726870007
Second Amendment to the Tax' Aba~ement Agreement - Page
EXHIBIT
8619Ct
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g~,: :7i ~e nan~ed records ~[ Dalla~
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