RE 11-26-91.2 A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 112691.2
A RESOLUTION OF THE CITY OF COPPELL, TEXAS, ADOPTING GUIDELINES,
CRITERIA AND PROCEDURE TO 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, enhancement of the local economy is in the best interest of the
citizens of the City of Coppell; and
WHEREAS, the establishment of economic development incentives such as tax
abatement may encourage enhancement of the local economy; and
WHEREAS, the Governing Body of the City of Coppell desires to continue to elect
to be eligible to participate in tax abatement and to amend its criteria and guidelines
governing tax abatement agreements,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS:
SECTION 1. The City of Coppell, Texas, hereby continues its election to
participate in tax abatement as authorized by the Property Redevelopment and Tax
Abatement Act of the State of Texas.
SECTION 2. The 'CITY OF COPPEtl ~ TEXAS GUlDEENES, CRITERIA AND
PROCEDURE GOVERNING TAX ABATEMENT AGREEMENTS,' attached hereto as
Exhibit 'A', be and the same are hereby adopted as the amended gu'a3el'mes and criteria
governing tax abatement agreements for the City of Coppell and shall governing all tax
abatement matters considered by the City from and after the effeclive date of this
resolution. The City Council shall not enter into a Tax Abatement Agreement unless it
finds that the terms of the agreement end the property subject to the agreement meet the
applicable guidelines and criteria herein adopted. Provided, however, any agreement
executed pursuant to previously adopted guidelines and criteria shall be governed by the
applicable guidelines and criteda in force at the 1Jme of the execution of such agreement.
The guidelines and criteria herein adopted shall be effective for two years from the date
of this resolution and during that period may be amended or repealed by a vote of three-
fourths (3/4) of the members of the governing body of the City of Coppell, Texas.
SECTION 3. The policy herein adopted shall, at the discretion to the City Council,
be reviewed annually or from time to time as needed. Said policy is intended as a guide
for use in developing tax abatement programs and agreements under the provisions of
the Property Redevelopment and Tax Abatement Act of the State of Texas, and
notwithstanding the policy herein established, the City Council of the City of Coppell
retains the right to act within the provisions of such act without the necessity of amending
the general policy herein adopted.
SECTION 4. This resolution shall become effective upon its passage as the law
in such cases provides.
DULY RESOLVED AND ADOPTED by the~C~~ the Cit~ of Coppeli,
Texas, on this the ~ ~ day of~Y~~ ,1991.
CITY OF COPPELL, TEXAS
MAYOR
A3-rEST:
APPROVED AS TO FORM:
CITY ATTO~/~ EY ~
(CR91-1122)
EXHIBIT "A"
CITY OF COPPELI., TEXAS
GUIDELINES, CRITERIA AND PROCEDURE
GOVERNING TAX ABATEMENT AGREEMENTS
General Pu~ose and Oblectlves
The City of Coppell, Texas is committed to the promotion of highly qualified
development in all parts of the City; and to an ongoing improvement of the quality of life
of its citizens. Insofar as these objectives are generally served by the enhancement and
expansion of the local economy, the City of Coppell will, on a case by case basis, give
consideration to providing tax abatement as a stimulation for economic development in
the City of Coppell. It shall be the policy of the City of Coppell that said conside~al;on will
be provided in accordance with the guidelines and criteria outlined in this dooJment.
Nothing herein shall imply or suggest that the City of Coppell is under any obligation to
provide tax abatement to any applicant. All applicants shall be considered on a case by
case basis.
Any request for tax abatement shall be reviewed by the Tax Abatement Committee,
said committee membership being comprised of one City of Coppell Council
representative, who shall act as Chairman, and two City of Coppall Economic
Development Board representatives. The committee may invite re~ from
Coppell Independant School District, Dallas County or Denton County, to ~ in
the review of the tax abatement requast. The tax aba~eme~t committee shM senm as a
recommending body to ~ C.~3ppetl C. ity C. oundl rega~lk~g wfmt]'mr ecorx3mic
recommendation shall be based upon a subjec~ve evalua~on ~f the comp~cl
"applicaton for tax abatement."
The applica~on ~3r tax abatement will provide ~ C_~b/wi~ a legal descr~3tk3n o~
the property invoived and the basis of the applicer~s proposal w~ich s~3uld s~ow a ~
clasigned to increase the value of the tm(able real proper~y and tar~ible personal pro~
located on the real property. Based upon this application the applicant and the City will
arrive at a "proposed" agreement which is then reduced to writing and tendered to the
City as an offer on the part of the applicant, subject to being accepted by the City after
a public hearing is held to determine whether or not the property involved should be
designated as a Reinvestment Zone and after the City Council has found that the
improvements sought are feasible and practical and would be a benefit to the land to be
included in the reinvestment zone and a benefit to the City after expiration of the
agreement.
The public hearing is handled in the same way as a public hearing for a zoning
case with someone from city staff describing the area to be considered, the improvements
to be made by the applicant and how such improvements will benefit the property and
the City. The applicant will then make his presentation which will be followed by
interested persons wishing to be heard either for and against the designation. Thereafter,
the public hearing is closed.
Before the City is able to entor into the t~x abatement agreement the property
involved must be designated a reinvestment zone. Before the City is able to do this the
City Council will, after holding this public hearing, be required to make a finding, to wit:
"that designation of the area as a reinvestment zone will be reasonably likely to contribute
to the retention or expansion of primary employment or attract major investment in the
zone that would be a benefit to the property and would contribute to the economic
development of the City.' After making this finding the City is then in a position to adopt
an ordinance designating the area as a reinvestment zone.
Thereafter, and if there are no changes to the agreement as a result of the public
hearing the City Council may approve the agreement and authorize the Mayor to execute
it on behalf of the City.
Guidelines and Criteria
1. Availability and Term of Tax Abatement Agreement. Tax abatement shall
be available for both new facil~es and structures, and for the expansion or rnodernizatiort
of existing facilities and structures. All Tax abatement agreements shall be for 8 term of
five (5) years.
2. Minimum Standards for Tax Abatement. To be conside,-ed ellgible for tax
abatement, the property must be designated es a reinve~t~,~3t zone. Therefore, the
applicant in its application should present a plan which if in~3len3eated would be
reasonably likely to contribute to the retention or expansion of ~ employment or
attract major inve~t~.ent that would benefit the property and would co.t~-~ute to the
economic development of the City.
3. The "First year of any agreement" shall be the tax year beginning January 1,
following the year in which the tax abatement agreement is executed.
4. Definitions. As used in this Section 4 and in Section 5 below, the following
words or phrases shall have the following meaning.
"The property" shall mean the real property described in the
applicant's application for tax abatement which shall be the
real property over which the applicant is seeking a
reinvestment zone designation.
'Total assessed tax value' shall mean the total assessed tax
value on January 1 of any tax year, of "the property,' any
improvements located on "the property' and the tangible
personal property located on "the property.'
'Current year tax value' shall mean the "total assessed tax
value' for the year in which the tax abatement agreement is
executed.
5. For each year of the agreement that the applicant's "total assessed tax
value' exceeds the 'current year tax value' by 5.5 million dollars, the tax abatement shall
be 25% of the such excess value and for any year of the agreement that such excess
value exceeds 10 million dollars the tax abatement for such year shall be 50% of such
excess value.
6. The policy herein adopted shall, at the discretion of the City Council, be
reviewed annually or from time to time as needed. Said policy is intended to be a guide
for use in developing tax abatement programs and agreements under the provisions of
the property redevelopment and tax abatement act of the State of Texas, and
notwithstanding the policy herein esteblished, the City Council and the City of Coppell
retains the right to act within the provisions of such act without the necessity of amending
the general policy herein adopted.
CR91-1122 EXHIBIT 'A'
62.528 ACRE PROPERTY DESCRIPTION
SITUATED in Dallas County, Texas, and being a tract of land in the S.A. and M.G.R.R.
SURVEY, Abstract No. 1439, and being more particularly described as follows
BEGINNING at the point of intersection of the northerly right-of-way line of the St.
Louis-Southwestern Railroad with the west line of a 20 foot wide street easement
granted to the City of Coppell by instrument recorded in Volume 79074, Page 69, of
the Deed Records of Dallas County, Texas, said point being 20.06 feet South 87 degrees
24 minutes West from an iron rod in place at the point of intersection of said
northerly line of railroad right-of-way with the present west line of Esters Road;
THENCE South 87 degrees, 24 minutes West with said northerly right-of-way line of
railroad, 1462.2 feet to an iron rod;
THENCE North I degree, 39 minutes, 45 seconds East, 1928.4 feet to an iron rod in the
south line of Bethel School Road;
THENCE with said south line of Bethel School Road as follows:
South 86 degrees, 15 minutes, 27 seconds Fa~t, 278.4:5 feet;
North 4 degrees, 15 minutes, 30 seconds East, 11.4 feet;
South 88 degrees, 38 minutes, 18 seconds East, 119.85 feet;
South 0 degrees, 59 minutes, 30 seconds West, 8.5 feet and
South 88 degrees, 43 minutes Fa~t, 1061.55 feet to an iron rod in the west
line of Esters Road;
THENCE South I degree, 20 minutes West with said west line of Esters Road, 293.0 feet
to an iron rod at a fence comer;
THENCE North 88 degrees, 43 minutes West 10.78 feet to the not,west corner of said
20 feet wide street easement;
THENCE South I degree, 24 minutes west with the west line of said 20 foot wide
street easement, 152"/.11 feet to the PLACE OF BEGINNING, and containing 62.$28 acres
(2,723,716 square feet), more or less.
E~IIBIT B