RE 11-28-95.1 A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 112895.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS, APPROVING THE
TERMS AND CONDITIONS OF A TAX ABATEMENT AGREEMENT BY AND
BETWEEN THE CITY OF COPPELL, TEXAS, AND MEPC QUORUM PROPERTIES
II INC.; AUTHORIZING ITS EXECUTION BY THE MAYOR; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Council has been presented a proposed Tax Abatement
Agreement by and between the City of Coppell, Texas, and MEPC Quornm Properties H
Inc., a copy of which is attached hereto as Exhibit "A" and incorporated herein by reference;
and
WHEREAS, upon fldl review and consideration of the Agreement, and all matters
attendant and related thereto, the City Council is of the opinion and finds that the terms
and conditions thereof should be approved, and that the Mayor should be authorized to
execute the Agreement on behalf of the City of Coppell, Texas;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS, that:
1. The Tax Abatement Agreement, Exhibit "A", having been reviewed by the
City Council of the City of Coppell, Texas, and found to be acceptable and
in the best interest of the City and its citizens, be, and the same is hereby, in
all things approved, and the Mayor is hereby authorized to execute the
Agreement on behalf of the City of Coppell, Texas.
2. The City Council finds that the improvements proposed to be built upon the
Premises described in the Agreement will enhance the economic vitality of the
community through a combination of new capital investment, increased sales
tax revenues, and the creation of additional job opportunities.
3. The tax abatement to be granted by the Agreement will not include
inventories, and supplies.
4. The improvements proposed for the Premises will accomplish the tax
abatement guidelines of the City of Coppell, Texas.
5. The City Manager delivered to the presiding officer of the governing body of
5. 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 is located, a written notice that the City of Coppell, Texas, intends
to enter into the Agreement. The notice given by the City Manager included
a copy of the Tax Abatement Agreement approved by this Resolution.
6. This Resolution and 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.
7. This Resolution shall become effective immediately from and after its
passage, provided that the Tax Abatement Agreement approved hereby shall
be effective as of January 1, 1996, and for the tax year 1996 and following for
the term thereof.
DULY RESOLVE.,~t AND MIOPTED by the City Council of the City of Coppell,
Texas, on this the ~2g--'-'-'~ay of' z///~_~,~ , 1995.
CITY OF COPPEI I~ TEXAS
TOM MORTON, MAYOR
ATEEST:
LIND-A GRA~',-vASSISTANT CITY
SECRETARY
APPROVED AS TO FORM:
PETER G. S~, CITY ATFORNEY
(PGS/jd 11-15-95)
AGG07928
STATE OF TEXAS §
§ TAX ABATEMENT AGREEMENT
COUNTY OF DAI] AS §
This Tax Abatement Agreement (the "Agreement") is entered into by and between
the City of Coppell, Texas (the "City"), a home nde city and municipal corporation of Dallas
County, Texas, duly acting herein by and through its Mayor, and MEPC Quorum Properties
II, Inc. ("MEPC'), a Delaware corporation, acting by and through its authorized officer.
WITNESSETH:
WHEREAS, on the 9th day of May, 1995, the City Council of the City of Coppell,
Texas, (the "City"), passed an Ordinance (the "Ordinance") establishing Tax Abatement
Reinvestment Zone No. 5 (the "Zone"), for commercial/industrial tax abatement, as
authorized by the Property Redevelopment and Tax Abatement Act, Chapter 312 of the
Texas Tax Code, as amended (the "Tax Code"); and
WHEREAS, on the 12th day of September, 1995, the City adopted an amended
guidelines for tax abatement (the "Tax Abatement Guidelines") attached hereto as Exhibit
"A" and made a part hereof for all purposes; and
WHEREAS, the Tax Abatement Guidelines contain appropriate guidelines and
criteria governing tax abatement agreements to be entered into by the City as contemplated
by the Tax Code; and
WHEREAS, the City has adopted a resolution stating that it elects to be eligible to
participate in tax abatement; and
WHEREAS, in order to maintain and enhance the commercial and industrial
economic and employment base of the Coppell area, it is in the best interests of the
taxpayers for the City to enter into this Agreement in accordance with said Ordinance, the
Tax Abatement Guidelines and the Tax Code; and
WHEREAS, MEPC's development efforts described herein will create permanent new
jobs in the City; and
WHEREAS, the City Council finds that the contemplated use of the Premises
(hereinafter defined), the contemplated improvements to the Premises in the amount set
forth in this Agreement, and the other terms hereof are consistent with encouraging
development of the Zone in accordance with the purposes for its creation and/or in
compliance with the Tax Abatement Guideline, the Ordinance adopted by the City, the Tax
Code and all other applicable laws; and
WHEREAS, the City Council finds that the improvements sought are feasible and
practicable and would be of benefit to the land to be included in the Zone and to the City
after expiration of this Agreement; and
WHEREAS, a copy of this Agreement has been furnished, in the manner prescribed
by the Code, to the presiding officers of the governing bodies of each of the taxing units in
which the Premises is located; and
WHEREAS, the City desires to enter into an agreement with MEPC, the proposed
owner of property within the Tax Abatement Reinvestment Zone No. 5 for the abatement
of taxes pursuant to Chapter 312 of the Tax Code, as amended;
NOW, THEREFORE, in consideration of the mutual benefits and promises contained
herein and for good and other valuable consideration, the adequacy and receipt of which
is hereby acknowledged, including the expansion of primary employment, the attraction of
major investment in the Zone, which contributes to the economic development of Coppell
and the enhancement of the tax base in the City, the parties agree as follows:
GENERAL PROVISIONS
1. MEPC is the owner of that real property described in Exhibit "B" attached
hereto and marine a part hereof for all purposes (the "Premises"), which Premises are located
within the city limits of the City and within the Zone.
2. The Premises are not in an improvement project financed by tax increment
bonds.
3. This Agreement is entered into subject to the rights of the holders of
outstanding bonds of the City.
4. The Premises are not owned or leased by any member of the Coppell City
Council or any member of the Coppell Planning and Zoning Commi~ion, or any member
of the governing body of any taxing units joining in or adopting this Agreement.
TAX ABATEMENT AUTHORIZED
5. This Agreement is authorized by the Texas Property Redevelopment and Tax
Abatement Act of the Texas Tax Code, Chapter 312, and in accordance with the City Tax
Abatement Guidelines and Criteria, and approved by resolution of the City Council of the
City authorizing the execution of this Agreement.
Tax Abatement Agreement - Page 2
6. Assuming an investment of at least $5.5 million in taxable assets, and subject
to the terms and conditions of this Agreement, the City hereby gxants MEPC an abatement
of ad valorem taxation on real and/or personal property with respect to the Premises of up
to seventy-five percent (75%) for a period of five (5) years. The actual percentage of taxes
subject to abatement for each year of this Agreement will be determined from the schedule
provided below; and will apply only to the portion of the taxable value of the Premises that
exceeds that property's taxable value for the year in which this Agreement is executed (base
year/1995). The tax abatement agreement for tangible personal property may only apply
to the personal property added to the real property after this Agreement is executed.
Assuming an investment of at least $5.5 Percentage of abatement of the excess
million in taxable assets, the amount by taxable value
which the total assessed taxable value of
the real property and/or tangible Warehousing and Distribution -
personal property, or both exceeds the Ma~dmum 75%
assessed taxable value for the property in
the year the agreement is executed (base Fabrication and Assembly - Maximum
year). 50%
Manufacturing and Processing -
Ma.x4mnm 25%
*[Taxable value of property for each year of abatement less base year taxable value =
excess taxable value subject to abatement % above]
7. The period of tax abatement herein authorized shall be five (5) years,
beginning on January 1, 1996 and contimfing until December 31, 2000, unless otherwise
amended by the parties pursuant to the Tax Code.
8. During the period of tax abatement herein authorized, MEPC shall be subject
to all City taxation not abated, including but not limited to, sales tax and ad valorem
taxation on land, invemory and supplies.
DEFINITIONS
9. Wherever used in this Agreement, the following terms shall have the meanings
ascribed to them:
Tax Abatement Agreement - Page 3 Ac-G07558
A. The Premises shall mean the property described on Exhibit "B" attached
hereto and incorporated herein for all purposes including any improvements and
personal property, excluding inventory, which is added to the property subsequent to
the execution of this Agreement;
B. The Improvements shall mean the contemplated improvements described
herein located on the Premises and as further described in the plans submitted to the
City, including but not limited to buildings, structures, tangible personal properly,
equipment, and fixtures added to the Premises other than inventory.
C. The Total Assessed Tax Value shall mean the total assessed taxable value
on January 1 of any tax year of the Premises, any Improvements located on the
Premises and the tangible personal property, excluding inventory, located on the
Premises.
D. The Base Year Tax Value shall mean the total assessed taxable value for
the year in which the Tax Abatement Agreement is executed (1995).
E. The First Year of the Tax Abatement Agreement shall be 1996, unless
otherwise agreed to by the parties.
F. Certifi~,.dAppraised Va!,_~_e means the appraised value of the Premlr, es owned
by MEPC as certified by the Dallas Central Appraisal District as of January 1 of
each year in which the tax abatement is granted.
IMPROVEMENTS
10. MEPC owns a 31.96 acre tract of land known as Freepor~ North Addition,
Tract of Coppell, Texas, being described in Exhibit "B* and agrees to construct Phase 2
which will consist of a 14.44 acre tract of land as described in Exhibit "B", and at least
280,000 square feet of warehousing and distribution facilities. The cost of the land and
Improvements should exceed $6.2 Million Dollars. The approximate location of such
Improvements are shown on the Site Plan of the Premiss attached hereto as Exhibit
and made a part hereof for all purposes. Nothing in this Agreement shall obligate MEPC
to construct Improvements on the Premises, but said Improvements are a condition
precedent upon initiation of tax abatement pursuant to this Agreement.
11. Subject to the terms and conditions of this Agreement, MEPC is entitled to
an abatement of ad valorem taxation on real property and/or personal property of seventy-
five percent (75%) for Phase 2, conditioned upon MEPC, its successors or assigns diligently
constructing the aforesaid improvements.
Tax Abatement As;r¢cmcnt - Page 4 ~6c,07558
CONSTRUCTION OF IMPROVEMENTS
12. As a condition precedent to the initiation of tax abatement pursuant to this
Agreement, MEPC will diligently and faithfully, in good and workmanlike manner, pursue
the completion of the contemplated Improvements on or before June 1, 1996, as good and
valuable consideration for this Agreement, and that all construction of the Improvements
will be in accordance with all applicable state and local laws, codes, and regulations, (or
valid waiver thereof); provided, that MEPC shall have such additional time to complete and
maintain the Improvements as may be required in the event of "Force Majeure," if MEPC
is diligently and faitlffully pursuing completion of the Improvements. For this purpose,
"Force Majeure" shall mcan any contingency or cause beyond the reasonable control of
MEPC including, without limitation, acts of God or the public enemy, war, riot, dvil
commotion, insurrection, adverse weather, government or de facto governmental action
(unless caused by acts or omissions of MEPC), fires, explosions or floods, strikes, slowdowns
or work stoppages.
13. MEPC agrees to maintain the Improvements during the term of this
Agreement in accordance with all applicable state and local laws, codes, and regulations.
14. The City, ils agents and employees shall have the fight of access to the
Premises during construction to inspect the Improvements at reasonable times and with
reasonable notice to MEPC, and in accordance with MEPC's visitor access and security
policies, in order to insure that the construction of the Improvements are in accordance with
this Agreement and all applicable state and local laws and regulations (or valid waiver
thereof).
GENERAL REQUIREMENTS
15. Construction plans for the Improvements constructed on the Premi.~s will be
filed with the City. The plans for such Improvements as filed shall be deemed to be
incorporated by reference herein and made a part hereof for all purposes.
16. MEPC agrees from the date a certificate of occupancy is issued until the
expiration of this Agreement to continuously operate and maintain the Premiss as an office,
warehouse and distribution center, or any other activity consistent with local zoning, in
compliance with all applicable federal, state and local laws.
17. After completion of the Improvements, MEPC shall certify in writing to the
City the construction cost of the Improvements. Such certification shall be signed by all
parties to this Agreement and shall then be attached hereto as Exhibit 'D", and such Exhibit
shall become a part of thin Agreement for all purposes, MEPC shall annually certify to the
City that it is in compliance with each term of the Agreement.
Tax Abatement Agreement - Page 5 AGC.-075~I
18. The Premises and the Improvements constructed thereon at all times shall be
used in the manner (i) that is consistent with the City's Comprehensive Zoning Ordinance,
as amended, and (ii) that, during the period taxes are abated hereunder, is consistent with
the general purposes of encouraging development or redevelopment within the Zone.
DEFAULT: RECAPTURE OF TAX REVENUE
19. In the event MEPC fails in performance of any of the following conditions:
(i) completion of the Improvements in accordance with this Agreement or in accordance
with applicable State or local laws, codes or regulations; (ii) have any delinquent ad
valorem or State sales taxes owed to the City {provided MEPC retain~ its right to timely and
properly protest such taxes or assessment); or (iii) breaches any of the terms and conditions
of this Agreement, then MEPC, after the expiration of the notice and cure periods described
in Paragraph 20 below, shall be in default of this Agreement. As liquidated damages in the
event of such default, MEPC shall; within Sixty (60) days after demand, pay to the City all
taxes which otherwise would have been paid to the City without benefit of a tax abatement
with interest at the statutory rate for delinquent taxes as determined by Section 33.01 of the
Tax Code as amended but without penalty. The parties acknowledge that actual damages
in the event of default termination would be speculative and difficult to determine. The
parties further agree that any property tax revenue lost, including interest as a result of this
Agreement, shall be recoverable against MEPC, its successors and assigns and shall
constitute a tax lien on the Premises itself and shall become due, owing and shall be paid
to the City within Sixty (60) days.
20. Upon breach by MEPC of any obligations under this Agreement, the City shall
notify MEPC in writing. MEPC shall have sixty (60) days from receipt of the notice in
which to cure any such defaulL If the default cannot reasonably be cured within a sixty (60)
day period, and MEPC has diligently pursued such remedies as shall be reasonably necessary
to cure such default, then the parties shall automatically extend the period in which the
violation must be cured for an additional sixty (60) days.
21. ff MEPC fails to cure the default within the time provided as specified in
Paragraph 20 above or, as such time period may be extended, then the City at its sole option
shall have the right to terminate this Agreement by written notice to MEPC.
22. Upon termination of this Agreement pursuant to Paragraph 20 above, all tax
revenue abated as a result of this Agreement shall become a debt to the City as liquidated
damages, and shall become due and payable not later than sixty (60) days after a notice of
termination is made. The City shall have all remedies for the collection of the recaptured
tax revenues provided generally in the Tax Code for the collection of delinquent property
tax. The City at its sole discretion has the option to provide a pay back schedule. The
computation of tax revenue abated for the purposes of the Agreement shall be based upon
the full taxable value without tax abatement for the years in which tax abatement hereunder
Tax Abatement Agreement - Page 6 A~.a0?5~8
was received by MEPC with respect to the Premises, as determined by the Dallas Central
Appraisal District, multiplied by the tax rate of the years in question, as calculated by the
City Tax Assessor-Collector. Penalties as provided for delinquent taxes shall accrue after
expiration of the sixty (60) day payment period.
ANNUAL APPLICATION FOR TAX EXEMPTION
23. It shall be the responsibility of MEPC~ pursuant to the Texas Tax Code, to file
aR annual exemption application form with the Chief Appraiser for each appraisal district
in which the eligible taxable personal property has situs. A copy of the exemption
application shall be submitted to the City for review.
SUCCESSORS AND ASSIGNS
24. This Agreement shall be binding on and inure to the benefit of the pm-ties to
it and their respective heirs, executors, admlni~trators, legal representatives, successors, and
assigns. This Agreement may be assigned with the consent of the City.
NOTICE
25. All notices required by this Agreement shall be addressed to the followln~ or
other such other party or address as either party deli?ares in writln5 by certified m~il~
postage prepaid or by hand delivery:.
If intended for MEPC, to:
MEPC Quorum Properties H Inc.
15303 Dallas Parkway, Suite 100, LB 10
Dallas, Texas 75248
If intended for City, to:
City of Coppell, Texas
City Manager
P. O. Box 478
CoppeR, Texas 75019
Tax Abatement Agreement - Page 7 AGGO~5~8
CITY COUNCIL AUTHORIZATION
26. This Agreement was authorized by resolution of the City Council approved
by its Council meeting authorizing the Mayor to execute this Agreement on behalf of the
City.
SEVERABILITY
27. In the event any section, subsection, paragraph, semence, phrase or word
herein is held invalid, illegal or unconstitutional, the balance of this Agreement shall stand,
shall be enforceable and shall be read as ff the parties intended at all times to delete said
invalid section, subsection, paragraph, sentence, phrase or word.
APPLICABLE I.~W
28. This Agreement shall be construed under the laws of the State of Texas.
Venue for any action under thi.~ Agreement shall be the State District Court of Dallas
County, Texas. This Agreement is performable in Dallas County, Texas.
29. This Agreement may be executed in any oumber of counterparts, each of
which shall be deemed an or~nal and constitute one and the same instrument.
ENTIRE AGREEMENT
30. This Agreement embodies the complete agreement of the parties hereto,
superseding all oral or written previous and contemporary agreements between the parties
and relating to the matters in this Agreement, and except as otherwise provided herein
cannot be modified without written agreement of the parties to be attached to and made
a part of this Agreement.
31. The provisions of this Agreement are hereby declared covenants running with
the Premir. es and are fully binding on all successors, heirs, and assJ~tms of MEPC who
acquire any right, rifle, or interest in or to the property, or any part thereof. Any person
who acquires any right, rifle, or interest in or to the property, or any part hereof, thereby
agrees and covenants to abide by and fully perform the provisions of this Agreement with
respect to the right, fide or interest in such property.
Tax Abatement Agreement - Page 8 AGGO/5:~8
RECORDATION OF AGREEMENT
32. A certified copy of this Agreement shall be recorded in the Deed Records of
Dallas County, Texas.
EXECUTED in duplicate originals this the o2oV~(ay
CITY OF COPPEI .lq TEXAS MEPC Quorum Properties II Inc.
Title: Vice President
APPROVED AS TO FORM:
PETER G. SMIT~ CITY ATFORNEY Peter Johnson
(PGS/c~ 9-28-95) Title: sr. vice President
Tax Abatement Agreement - Page 9 Aaa07538
MAYOR'S ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF DA1.1 .AS §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of
Texas, on this day personally appeared Tom Morton, Mayor of the City of Coppell, Texas,
a municipal corporation, known to me to be the person and officer whose name is
subscribed to the foregoing instrument and acknowledged to me that the same was the act
of the said City of Coppell, Texas, a municipal corporation, that he was duly authorized to
perform the same by appropriate resolution of the City Council of the City of Coppell, and
that he executed the same as the act of said City for the purpose and consideration therein
expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFF~ thi~ the. ,.7_-q ~--"~day of
My Commi.~sion Expires: ·
7/?
1o t,,
Tax Abatement Agreement - Page 10 A~07558
T
CORPORATE ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF DALLAS §
BEFORE ME, the undersigned authority a Notary. Public in and for the State of
Texas, on this day personally appeared Howard Garf±elA~eing the V±ce Pres~.dent
of MEPC Quorum Properties II Inc., a Delaware corporation, known to me to be the person
and officer whose name is subscribed to the foregoing instrument and acknowledged to me
that the same was the act of the said MEPC Quorum Properties I1 Inc., a Delaware
corporation, and that he executed the same as the act of said corporation for the purpose
and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this the 1.1th day of
October , 19 95
Notary Public, State of Texas
My Commission Expires: Kathleen K. Schiber
06/20/96
Tax Abatement Agreement - Page 12 AGG06B69
CORPORATE ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF DALLAS §
BEFORE ME, the undersigned authority a Notary Public in and for the State of
Texas, on this day personally appeared P' Johnson , being the Sr. vice President
of MEPC Quorum Properties II Inc., a Delaware corporation, known to me to be the person
and officer whose name is subscribed to the foregoing instrument and acknowledged to me
that the same was the act of the said MEPC Quorum Properties Il Inc., a Delaware
corporation, and that he executed the same as the act of said corporation for the purpose
and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this the ltth day of
October , 19 95
Notary Public, State of Texas
My Commission Expires: Kathleen K. Schiber
06/20/96
Tax Abatement Agreement - Page 12 AGG06B69
CITY OF COPPEI.I.~ TEXAS
GUIDELINES FOR TAX ABATEMENT
~EI~ERAL PURPO~E.q AND OILIECTIVF. E
The ~ of Coppell h ~itted to ~c promotion of hi~ quali~ development in ~1 p~ts
of the ~ ~d m an ongoing improvement in ~e qu~[~ of Hfe for
·ese obje~iv~ ~c gener~y se~ed by the e~ment and e~ion of ~e
e~no~, the ~ ~!1 on a ~e by ~e b~is ~ve co~iderafion to pro, ding ~centi~
a s~ui~ for e~nomic development in ~ppell. It h the poli~ of the ~ ~t su~
~o~i~emtion ~1 be prodded in accord~ce with ~e pro~durcs and cdtcda outlined in
th~ do~nt. ~at~ h~ .~ ~p~ ~ ~ th~ t~ ~ of ~o~ ~ ~--~
Ac~rd~ tO the Prope~ Redevelopment ~d T~ ~atement A~, ~ified at C~p~r
of ~¢ T~ T~ C~e, the ~W may o~y ~t ~ abatement ~
~ ~ a ~_~ ~y a~cific development pro~ which mee~ ~e ~no~c
aeveiopment 8o~ ~d obje~tves of the CiW. ~e t~ abatement ~y only apply to the
ez~t~ po~on of ~e proje~ or the t~gible ~r~ pro~ added to the re~ ea~te or
~th. Invento~ and auppHes may not ~ included.
T~ abatemen~ ~e ~ted to ~e o~ers of re~ ~d perso~l pro~; for proje~ where
the real e~tate h le~ed, s~clal te~s ~d ~ndi~o~ ~y be prodded in ~e a~ment.
MINIMUM N~TANDARDN FOR TAX ABATEMENT
To be considered eligible for a tax abatement, the proposed project and/or property must
meet the following criteria:
£LgE ~0£ PI~
1. An investment of at least $5.5 million in taxable assets. The acquisition cost
of the real estate is not included in computing the amount of taxable assets.
Construction costs are not necessarily indicative of the taxable value of the
property. (The taxable value is determined by the Central Appraisal District
as of January 1 of each year.)
2. The project makes a substantial contrlhufion to redevelopment efforts.
3. The project has high visibility, image impact, or is of a significantly higher
level of development quallty.
4. The project is an area which might not otherwise be developed because of
restraints of topography, ownership patterns, site configuration, or other
constraints.
$. The project stimulates concentration of employment and/or commercial
activity.
6. A project submitted for tax abatement shall be subject to fiscal impact
analysis to determine whether or not the services required for the facility will
exceed the amount of taxes generated if an abatement was provided No tax
abatement will be offered to a project that generates negative costs to the
Applicants must provide a written narrative detailing how a project meel~ the above
mlnlmum standards.
ORIF~lVlg CRITERIA
The following criteria is designed to evaluate specific components common to all applicants.
1. How much property tax base will be added? There must be at least
million in tax base added to the property to be eligible for tax abatement.
2. How much local annual payroll will be created?
3, How many new jobs will be created?
4. An investment of at least $$.$ million in taxable assets.
Ed. 8/17/9~ ta:O~FAF
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SUB.IF_~IVF~ CRITERIA
The applicant must respond in written narrative format to the following:
1. Is the project sponsor a local company?
2. What types and values of public improvements, if any, will be made by the
applicant?
3. Will the applicant be the owner or lessee? ff lessee, are occupancy
commitments already existing?
4. Does or can the project meet all relevant zoning, subdivision and other legal,
requirements?
: $. What impact will the project have on other taxing units?
(Coppeil Independent School District)
6. Are the new jobs to be created likely to be filled by Coppell's local labor
force?
7. Will the project increase the business opportunities of existing local
businesses?
8. Is the project consistent with the comprehensive plan of the City9
9. Is the level of quality significantly higher than the typical projects of a similar
use? Are site amenities provided such as landscaping, public afl, water
fountain*, plso. as, etc.?
10. Does the project pose any negative environmental, operational, visual or other
impacts (i.e. pollution, noise, traffic congestion, etc.)?
AMOUNT O!? TAX ARATI~MENT
The above criteria will be used to determine whether it is in the best interest of the City to
provide tax abatement to a particular applicant. The categories item{zed below have been
identli~ed as desirable for the community. Once a determination has been made lhat a tax
abatement is in the best interest of the City, the value and term of the abatement will' be
determined from the followil~g:
· r~ Abatement Ouldclh~e~'- Page
!~1. 8/17/95
£69£
Assuming an investment of at least $5.5 Percentage of abatement of the excess
million in t~able assots, the amount by taxable valRe
which the total assessed taxable value of
the real property and/or tangible Warehousing and Distrlbutlor~ -
personal property, or laoth exceeds the Maximum ?5%
assessed taxable value for the property in
the year the agreement is executed (base Fabrication and A~sembly - Maximum
year). 50%
Manufacturing and Processing -
Maximum 25%
pROCKI}URAL GUIHELINES
Any pe~o~ orga~on or co~oration desi~ 'that the ~W co~[der pro~ t~
abammem to en~urag~ l~tian ~r ~p~ded operation ~thin the ciw sh~l ~mply ~th
the~ pr~edural ~idel~. ~m~ ~ th~ ~,i~ ~! ~ ~ to .~ t~
Applicant should subn~it an application for tax abatement to the City Manager addressing
the above criteria includin~ a legal description of the property and a plat zhowlng the
precise location of the property, all roadways within five hundred feet of the site, and all
existing zoning and lull uses within five hundred feet of the site.
.aPPLICATION REVIEW' PROCEg~q
The application will b~ reviewed by the Tax Abatement Committee consisting of the City
Manager, three representatives from the Economic Development Partnership, the Chairman
of the Finance Committee and the City's Tax Assessor. The Committce will serve az an
advisory body to the City Council in determining whether a tax abatement should be offered.
The Committee's recommendation shall be based upon a subjective evaluation of the
8/17/9.5 AQOO6~A~
~00 q~d03 ~0 Ail3 ~I:~I S6/9~/0I
completed application. The committee may invite representatives from the Coppell
Independent School District, Dallas County, Tarrant County or Denton County, to
participate in the review.
All [n~ormation submitted will be reviewed for completeness, accuracy, and according to the
guidelines and criteria. Additional information may be requested ns needed.
The application may be di~trlbuted to appropriate City departments for internal review and
comments.
Copies of the complete application package and staff comments, if any, will be provided to
other taxing entities (Coppell Independent School District, Dallas, Tarrant or Denton
County).
The staff will make recommendations on the applieatlon to the Tax Abatement Committee.
If needed, the Tax Abatement Committee will meet with the applicant.
The reeommendntion of the Tax Abatement Committee will be forwarded to the chief
adm;"lstratlve officer oF other applicable taxing units.
Based on the recommendation of the Committee the City Conncll may consider a resolution
calling a public hearing to consider, the establishment of a tax relnvestment zone. (Before
the City may enter into a tax .abatement agreement, the property involved must be
designated as a reinvestment zone.)
City Council then holds a public hearing to determine whether or not the property involved
should be designated as a reinvestment zone; and whether the project is feasible and
practical and would be a benefit for to the City after expiration of the agreement. (At the
public hearing, the City staff and/or the applicant may make a presentation following which
interested persons may speak for or against the designation.)
A~er the public hearing the City council will consider adoption of the resolution designating
the area described in the legal description of the proposed project as a tax abatement
reinvestment ~,one. The resolution will further authorize the City Manager to negotiate an
agreement with the applicant governing the provision of the tax abatement.
ADOPTION OF AGRI~EMENT
Any tax abatement agreement must inch, de the followlng:
1. C3eneral description of the project
Ed. 8/17/9~ AC~0~fA~
2. Amount of t~x abatement.
3. Method for calculating the v~lue of the abatement.
4. Te~ of the abatement.
5. ~gal d~c~ptlon of the proart.
6. ~e, number, location and timetable of planned improvement.
7. ~y s~cific ter~ or condltio~ to be met by appHc~t.
~e a~eement ~ll ~ presented to the Ci~ Council for adoption whereupon it ~11 be
exerted by the Ci~ M~ager ~d by the specified official of any other participatMg t~ng
Almtcmcnt
8/17/95
600 933dd03 ~0 I£I3
PROPERTY DESCRIPTION
EE]N~ o ~oct or Dorcelo? ~d sltuc*ed In the ~lIIllam 1~ Poy~ Survey. Abctroc~ NO. ~40,
BEGI~NG o~ o fence o~n~ f~nd ~or on Interior o~corner of sol~ 'Freepo~ No[ i7~', some ~1~
of r~d lh Vot~e ~24~ Page 4209, ~Ilos County ~ Recor~
~nstr~ent of r~ord In ~o~me ~207l, Pogs IO~. Dallas Catty De~d
lH~ O~ng ~e common II~ o~ sald IO0.O00 ocF~ ~roc~ and Bold ~ree~ ~h'. ~u~h O0
Oe~ees II minutes 3~ seconOs [~t. ll!~O0 feet fo o [/~ Iron rod se~ +~ mrnerl
TH~CE Sou~ 44 Oe~ees 48 mJn~es 2T ~conda Wes% 45.00 to o I/~ Iron r~ se~ ~ cat.ri
Jn ~he Easterly line of Royat L~e, I~ f~t
TH~CE along eolq loathly II~ the ~ol~w~g ~lve (5)co~sem
I) 239.l~ feet alanO t~e ~o of o no~-T~gent c~ve To The left hovl~ o radius Of IO50.O0
feet, o c~alon~e of I~ oegrees 02 ml~es 56 ~co~s ~O o chord b~l~
distance of Nor~ GZ de~s J5 ml~ee 08 ~c~oa west. 2~8.~Z fee, To ~ I/~ Iron
North G8 de~eea 4G ml~es 3G ~s West, I5~O0 f~t to O 172' lr~ rod for The ~lnnl~ of o ~rve;
114~ ~ee* o~ The ora of o toff Curve *o ~he rl~? hovl~ ~ rodlus of ~50.00
f~t, o cen~o~e of 6g degrees l0 minces 02 secon~a ~d ~ ~d
dlsTonce of N~ 34 Oeor~s Iiml~Te8 35 ~s We8~. 107B.4~ feet To
North O0 de~ees 2~ mlnu~es 2~ se~nds Eos~, 74.15 ~ee* ~o o I/2' Iron rod found for
North 45 Oe~ees 23 mlnu*es 26 ~conds Eos~. 2L=I feel fo ~ I/2' Iron rod found for
le~ ~vlng o roOtus of 15~0.00 fee~. o cenTroio~le of 10 Oegrees ~0 mi~Tes O4 ~onoa
be~lnQ and dls*~e of North 85 ~ees 08 minutes 24 ~e~s los% 2B0.OZ feel To a I/2' Iron rod
464.55 fee~ ~o the POINT 0F BEGINNING. cna con~olnlng 31.9602 Acres fl,3~2.185 squ~e fee~)
SAVE ~D EXCEPT ~E FOLLOWING:
the O.T. Tm~eott Survey, ~bs/roc? NO. 175~ and fha S.~ & ~,G.R.~ Survey, Abstract No. 1419.
o porflon of thof certain ]J.9~02 acre troc~ conveyed ~o M[PC OUORUM PROPERTIES il. IN~.
Dy lnslrumenf of r~ord In VgJu~8 ~O~B, Page 96B, DOIIOs County Deed Records. sold 1rog(
BEGINNING o~ I/2'lron rod found for the Northeasterly corner of said ~[.960~ ogre ?rocf (rom
conveyed To Co~p~llnd~trlolN. V. by Instr~ent of record In V~ume 82071. Page 106l.
THENCE along the common line ~ald I00.00 acre ?root and eald 31.¢ - acre tract, South CIO
THENCE aeporttng SOld common Itr~, South 89 oegree~ 48 mJnute~ 2~ ~econd~ ~es~, 450.00
T~NCE South 44 degrees 48 mlnufoa ~ 8e~nd5 ~e~t, 45.~ feet to o I/2' Iron rod set for
THENCE South ~ oegrees I~ ~inutes ZO seoonos West, ~3.17 feet to a J/2' Iron rod set for
c~r~ tn ~ Easterly ?lgh~-of-~oy li~e of RoyotL~e. tO0 feet
(Ii 2SC.II feet otong t~ ~c of a ~-/~gent ~rve fo the left hovI~ a rodlus of 1050.00
feet, a oemrolm~e of I] donees O2 mlnutee ~ ~eoo~ ~ O ~ord bearing and
[2) N~,h ~B donees 4~ minutes ]~ s~nds ~esf. 150.00 f~t to o I/Z' 1ran rod fou~ for the
beginning of O ourveI
(3) 275.2~ fee, ~ong ,he oro Of 0 t~oen* c~ve to ~e rlgh, hovlng o rodl~ of 950.00 a ~n~r~ongle o~ I~ ~e~ees 3~ mi,,es Il e~onds o~ 0 ohord ~lhg
North ~00e~ees 2B mlnu,es ~0 seo~s ~est, 214.~3 ~est *o o I/Z' Ir~ ro~ ~? for
THENCE North O0 degrees lB mln~es OI seoo~s ~est, B6~.55 feet to o I/2' Iron r~ sst for
c~ner In the South~l~ line o~ sold 214.09 acre Esteve
d~ees 41 ml~ 59 seooflds E~f, 6~.00 feet ,o ~ ~1~ ~
17.5~ o~e~ 7G~,1~4 s~e feet, more or le~ of I~d ~ wl~ln, the