RE 2017-1212.7RESOLUTION NO. 2017-1212.7
A RESOLUTION OF THE CITY OF COPPELL, TEXAS, APPROVING THE
TERMS AND CONDITIONS OF THE SECOND AMENDMENT TO TAX ABATEMENT
AGREEMENT BY AND BETWEEN THE CITY OF COPPELL, TEXAS, AND FOUNDERS'
CROSSING, LLC, A TEXAS LIMITED LIABILITY COMPANY; AUTHORIZING ITS
EXECUTION BY THE MAYOR; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City entered into a Tax Abatement Agreement with Founders' Crossing,
LLC on November 23, 2015, with respect to 531 Bethel Road, Coppell, Texas ("Tax Abatement
Agreement"); and
WHEREAS, the City entered into a First Amendment to Tax Abatement Agreement with
Founders' Crossing, LLC dated December 30, 2016 (the "First Amendment") amending the definition
of "First Year of Abatement"; and
WHEREAS, the City Council has been presented a proposed Second Amendment to Tax
Abatement Agreement with respect to 531 Bethel Road, Coppell, Texas, by and between the City of
Coppell, Texas, and Founders' Crossing, LLC, a Texas limited liability company, a copy of which is
attached hereto and incorporated herein by reference; and
WHEREAS, upon full review and consideration of the Second Amendment to Tax
Abatement Agreement, and all matters 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 Second Amendment to Tax Abatement 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:
SECTION 1. The Second Amendment to Tax Abatement Agreement attached hereto 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 Second Amendment to Tax Abatement Agreement on
behalf of the City of Coppell, Texas.
SECTION 2. This Resolution shall become effective immediately from and after its
passage.
DULY RESOLVED AND ADOPTED by the City Council of the City of Coppell, Texas,
on this the 1 day of
APPROVED -AS TO
(PGS: 10-24-17:2.92573)
ATTEST:
STEL PETTING , CITY SECRET Y
EXHIBIT "A"
(Copy of Second Amendment to Tax Abatement Agreement to be attached)