RE 06-12-90.1 RESOLUTION OF THE CITY OF COPPELL~ TEXAS
RESOLUTION NO. 061290.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS~ INDICATING ITS
CONCEPTIJAL APPROVAL OF A PROPOSED TAX ABATEMENT
AGREEMENT INVOLVING APPROXIMATELY FIFTY TO SIXTY-FIVE
ACRES IN THE PARK WEST BUSINESS PARK ON BELT LINE ROAD
NORTH OF I ~;35 AND DECLARING AN EFFECTIVE DATE.
WHEREAS, a certain company which shall for the purpose of this resolution be
referred to as "Company" has filed with the a City an application for a tax abatement
to be considered by the City of Coppell, and
WHEREAS attached hereto as Exhibit "A" is an agreement between Company
and the City prepared pursuant to the City of Coppell guidelines and criteria for tax
abatement agreements, containing a list of the kind, number and location of all proposed
improvements to be placed on the property by the Company, and the special conditions
recommended by the City of Coppell Tax Abatement Committee.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COPPELL, TEXAS:
Section I.
That the Tax Abatement Agreement attached hereto as Exhibit "A' between
Company and the City of Coppell~ Texas~ be and the same is hereby approved in concept
by the City Council. Provided, however, that before this agreement may become
effective the Coppell Independent School District shall adopt a Tax Abatement policy
equal to or exceeding those abatements outlined in the said City of Coppell Reinvestment
Zone No. 2 Abatement Agreement.
Section II.
Pursuant to the Property Redevelopment and Tax Abatement Act of the State
of Texas and the guidelines and criteria of the City of Coppell, City Staff is hereby
directed to schedule a public hearing on the designation of the area as a reinvestment
zone, and have said agreement in final form for adoption by the City Council at a
subsequent meeting.
Section Ill.
Information provided the City in connection with this application is hereby
considered confidential and not subject to public disclosure until such time as the final
Tax Abatement Agreement is executed. Provided~ however, upon execution of the
conditional agreement by Company as above-mentioned and upon Company's written
approval, the City Council may elect to disclose such information as it deems necessary
to provide persons attending the public hearing on designation of the reinvestment zone
to be heard on the question of whether the improvements sought are feasible and
practical and would be a benefit to the land to be included in the reinvestment zone
and to the City after expiration of the agreement. Information in the custody of the
City after the agreement is fully executed by both parties shall no longer be confidential.
This provision concerning confidentiality of proprietory information is pursuant to the
provisions of Section 312.003 of the Tax Code, as amended by Senate Bill 1312, Acts
of the 71st Legislature~ Regular Session, 1989.
BAS/gh Resolution- Page I
Section IV.
This resolution shall become effective immediately upon its passage as the law
in such cases provides.
DULY RESOLVED BY THE CITY COUNCIL OF THE CITY OF COPPELL, TEXAS
this the /~ ~ of 3une, 1990.
APPROVED:
ATTEST:
C/I~Y SECRETARY
APRPOVED AS TO FORM:
CITY ATTORNEY
BAS/gh Resolution - Page 2