RE 2021-0713.2 Tax Abatement Agreement - Aloft
RESOLUTION NO. 2021-0713.2
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
NORTHPOINT HOTEL GROUP, LLC; AUTHORIZING ITS EXECUTION BY THE
MAYOR; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council has been presented with the proposed Second Amendment to
Tax Abatement Agreement (the “Agreement”) by and between the City of Coppell, Texas, and
Northpoint Hotel Group, LLC, a copy of which is attached hereto and incorporated herein by
reference; and
WHEREAS, upon full review and consideration of the 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 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. The Council finds that the improvements proposed to be built upon the
Premises described in the Second Amendment to Tax Abatement Agreement will enhance the
economic vitality of the community through a combination of new capital investment, increased
sales tax revenues, and the creation of additional job opportunities.
SECTION 3. The tax abatement to be granted by the Second Amendment to Tax
Abatement Agreement will not include inventory, and supplies.
1
SECTION 4. The improvements proposed for the Premises as defined in the Second
Amendment to Tax Abatement will accomplish the tax abatement guidelines of the City of
Coppell, Texas.
SECTION 5. This Resolution and the Second Amendment to Tax Abatement Agreement
are hereby approved by the affirmative vote of the majority of the members of the City Council
of the City of Coppell, Texas, at a regularly scheduled meeting of the City Council.
SECTION 6. 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 43A day of J Vt J , 2021.
CITY OF COPPELL,TEXAS
� I /
WE MAYS,MAYOR '
ATTEST:
ASHLEY O ,CITY SECRETARY
APPRO 'r TO FO' :
i
CITY ATTORNEY/
(PGS:6-22-21:TM 123174)
2
“A”
“A”
EXHIBIT “A”
EXHIBIT
(Second Amendment to Tax Abatement Agreement)
(to be attached)
3