RE 01-11-94.1 A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 011194.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS, ADOPTING GUIDELINES,
CRITERIA AND PROCEDURE FOR TAX ABATEMENT AGREEMENTS; PROVIDING THE
GENERAL PURPOSE AND OBJECTIVES SOUGHT BY THE CITY; CONTINUING THE
ELECTION TO BE ELIGIBLE TO PARTICIPATE IN TAX ABATEMENT; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the Goverr~ Body of the Ci~ of Cop~ ~ to cxx*d~'tue to elec~
to be eligible to participate in tax abatemer4 ar~ to oontlnue the prevlou~ ~ and
guidelines governing tax abatemer~ agreernen~,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPEU., TEXAS:
SECTION 2. The "CITY OF COPPELL, TEXAS GUIDEUNES, CRITERIA AND
PROCEDURE GOVERNING TAX ABATEMENT AGREEMENTS,' attached hereto
Exhibit 'A', be and tim same are hereby adopted as the amended gtJdelines and criteda
resolution. The Ci~ Council shali not enter into a Tax ~ Agreement unless It
applicable guidelines and criteria herein adopted. Provided, however, any agreement
fourths (3/4) of the members of the governing body of the City of Coppell,
$ECTION 3. The policy herein adOl~ed shall, at ttte discretion of the City Council,
be reviewed annually or from 'dine to time as needed. Said po~y is intended as a guide
SECTION 4.
DULY RESOLVED AND ~D by the City ~ of ~he City of Coppell,
Texas, on tt~ the.// day of ~, lgg4.
"-----CITY OF OOPPELL., TEXAS
APPROVED AS TO FORM:
CITY OF COPPr4;. TEXA~
GUIDEL!N~, CRITERIA AND PROCEDURE
QOVEI:INII~ TAX ABAI'EMEI~/411EBIEKI'~
G~llrli P _umoll In~l Oblla~vll
provide tax ~nt to ~y applk:~'~ NI applicants ahall be cormider~ on a mine by
· application for tax abatement."
designed to ~ the value ~ the taxable reel prepe~ anti tanga~ pemonal ~
arrive at a "prop<x~l' agreement whi~ I~ th~ r~ t~ wraing and ter~lered to the
agreemect.
it on behe]f of the Olty.
Guld~lin~ m~l ~
1. Avllllbility and Term ofTaxAbltlmeatAgrlement. Tax~ahal
f~e {~) yea~.
2. Mifllmum $tafldardlforTaxAbatlamflt, Tol3e c~ olig~fortnx
3. 'Win"Flint year o~ any a~ atml bo ttm taxyear beginning Janua~/1,
following the year In wlY~h bhe tax abatement agreement hi exect~ecl.
'Tim PrOl~ stroll mean the real p~ clescrl3ed in the app~ic~,x's
year in which the tax abatement agmeme~ M e~x~¢l.
exceeds the 'axrent year tax value' by $.5 million ~, tt~ tax ~ ahall be ~%