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BM 1998-05-06 EcDev`COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP May 6,.1998 MINUTES The Coppell Economic Development Partnership met at 7:00 p.m. on Wednesday, May 6, 1998 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Scarlett Hovland, Karen Hunt, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Gary Sieb, City Manager Jim Witt, and Councilmember Chuck Sturges. 1. Call to Order Vice Chairman Pat Murphy called the meeting to order at 7:25 p.m. Pat Murphy noted that there was lack of a quorum to make any administrative actions. 2. Approval of Minutes There were no administrative actions taken due to the lack of a quorum. 3. Tax Abatement Policy Survey Chad Beach led discussion on the Tax Abatement Policy Survey. Chad provided copies of a Tax Abatement Policy Summary listing cities within the metroplex. There were a total of 16 cities surveyed including Coppell. The city of Grapevine and Addison do not offer property tax abatements. The minimum investment of $5 million in taxable assets is the average for tax abatements in surrounding cities. Coppell's minimum investment criteria is $5.5 million in taxable assets but may consider less, based on other economic factors. The average percentage abatement is 50W with Coppell's being 75W. The survey also showed that longer terms of abatement are offered throughout the metroplex up to 10 years. Chad Beach showed a 4 cities comparison of annual tax savings for 2 hypothetical companies. The city of Allen offered the highest tax savings, followed by the cities of Lewisville and Grapevine.. Coppell showed to have the highest annual tax bill. The analysis also showed each company's tax saving benefits with triple freeport exemption. Discussion followed considering to lower the percentage of abatement and to lengthen the term. Discussion continued with comparison of Freeport Exemptions. Coppell has a double freeport exemption while some of the area cities offer a triple freeport exemption. City Manager, Jim Witt expressed that various businesses are requesting the triple freeport exemption. The City Manager also reported that several developments considering to locate in Coppell went elsewhere for the triple freeport exemption. The Partnership made a recommendation that Gary Sieb consult with Mr. Cole Morvan of Plano on their triple freeport tax exemption. 4. Update on Current a Potential Commercial/ Indus Developments Gary Sieb had no developments to report on at this time. I 5. General Discussion and Other Business There was discussion on the summer schedule for meetings. IIL was proposed that the Partnership not schedule meetings for June, July or August . Special meetings will be called for tax abatement requests. With no further business to discuss, the meeting was adjourned at 8:00 p.m. Respectfully submitted, Scarlett Hovland I 't COPPELL ECONOMIC DEVELOPMENT PAR Wednesday, May 6, 1998 Meeting Time: 7:00 p.m. (Open to the Public) Meeting Place: 2nd Floor Conference Room Coppell Town Center Notice is hereby given that the Economic Development Partnership will meet in regular session on Wednesday, May 6, 1998 at 7:00 p.m., in the 2nd Floor Conference Room at the Coppell Town Center, 255 Parkway Boulevard, Coppell, Texas. The purpose of the meeting is to consider the following items: Item 1: Call to Order Item 2: Approval of Minutes: April 1, 1998 Item 3: Review and discuss the Tax Abatement Policy Survey (Beach/Sieb/Witt) Item 4: Review of the date on Current & Potential Commercial/Industrial Developments (Sieb) Item 5: General Discussion and Other Business (Sieb) Adjournment CERTIFICATE I certify that the above notice of meeting was posted at 5:00 p.m. on the bulletin board at the Town Center of the City of Coppell, Texas, on Friday, May 1, 1998. 01j s \qcl Scarlett Hovland, Senior Administrative Secretary Public Notice Statement for ADA Compliance The City of Coppell acknowledges its responsibility to comply with the Americans with Disabilities Act of 1990. Thus, in order to assist individuals with disabilities who require special service (i.e., sign interpretative services, alternative audio/visual devices, and amanuenses) for participation in or access to the City of Coppell sponsored public programs, services and/or meetings, the City requests that individuals make requests for meeting. To make arrangements, contact Vivyon V. Bowman, ADA Coordinator, or other designated official at (972) 462-0022 or (TDD 1-800-RELAY,TX,1-800-7352989) S R Dom, ' MAY - 4 ►�8 COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP Wednesday, May 6, 1998 N-leetingrime: 7:00 p.m. (Open to the Public) Meeting Place: 2nd Floor Conference Room Coppell Town Center Notice is hereby given that the Economic Development Partnership will meet in regular session on Wednesday, May 6, 1998 at 7:00 p.m., in the 2nd Floor Conference Room at the Coppell Town Center, 255 Parkway Boulevard, Coppell, Texas. The purpose of the meeting is to consider the following items: Item 1: Call to Order — `j0M Item 2: Approval of Minutes: April 1, 1998°P✓ Item 3: Review and discuss the Tax Abatement Policy Survey (Beach/Sieb/Witt) Item 4: Review of the date on Current & Potential Commercial/Industrial Developments (Sieb) vjoy"`- rJ �5 "' Item 5: General Discussion and Other Business (Sieb) Adjournment * S PEb kL #16e7064 CERTIFICATE I certify that the above notice of meeting was posted at 5:00 p.m. on the bulletin board at the Town Center of the City of Coppell, Texas, on Friday, May 1, 1998. 0-ry%-'�A AANCWTA? Scarlett Hovland Senior Administrative Secretary A4,ff A) /J D' J 0 1,t M — No VO T-7 Public Notice Statement for ADA Compliance The City of Coppell acknowledges its responsibility to comply with the Americans with Disabilities Act of 1990. Thus, in order to assist individuals with disabilities who require special service (i.e., sign interpretative services, alternative audio/visual devices, and amanuenses) for participation in or access to the City of Coppell sponsored public programs, services and/or meetings, the City requests that individuals make requests for meeting. To make arrangements, contact Vivyon V. Bowman, ADA Coordinator, or other designated official at (972) 462-0022 or (TDD 1-800-RELAY,TX,1-800-7352989)