Duke Lesley-CS060728
(12/18/2009) Ken Griffin - Here is the revised letter. Please let me know if there are any changes that need to be made.Page 1
From: Mindi Hurley
To:Armstrong, Jennifer; Beach, Chad; Griffin, Ken; Phillips, Clay; Witt...
Date: 7/28/2006 2:51 PM
Subject: Here is the revised letter. Please let me know if there are any changes that need to be
made.
Attachments:Lesley Tract - Incentive offer(4).doc
Here is the revised letter. Please let me know if there are any changes that need to be made.
Mindi Hurley
Economic Development Coordinator
City of Coppell
255 Parkway Blvd.
Coppell, TX 75019
(972) 304-3677
(972) 304-3673 (fax)
www.ci.coppell.tx.us
July 28, 2006
Jeff Turner
Senior Vice President
Duke Realty Corporation
5495 Belt Line Road, Suite 360
Dallas, TX 75254
RE: Lesley Tract
Dear Jeff,
As previously discussed, City Council reviewed your proposed site plan for the Lesley
Tract, and Council is excited about the plan you all have put together as well as the
potential development that will soon take place at this site. Based on preliminary
discussions, the city is prepared to offer the following incentives:
The city will provide water/sewer utility assistance of up to $1,500,000 to be
reimbursed as work is completed and must include the looping of a 16” water line;
The city will provide $1,500,000 in infrastructure assistance for public infrastructure
improvements to be reimbursed as work is completed;
The city will provide a grant of $200,000 for a traffic signal at the intersection of
Dividend and Belt Line Rd. to be built to the specifications provided by the city;
The city will adjust the Major Thoroughfare Plan as well as provide assistance in
discussions with TxDOT to facilitate a connector road to IH635E, which equates to a
value of $1,000,000 in savings for Duke;
The city will rebate back to Duke up to $600,000 of the city’s portion of rollback
taxes as they become payable to the city;
The city will waive 100% of the Roadway Impact fees for the site;
A 75% abatement of city taxes for a period of 5 years for all industrial and office
buildings on the site.
The city also commits that no above standard landscaping will be required and a
landscape-screening wall will be sufficient for the screening of the industrial buildings.
All incentives outlined above will be contingent upon final approval by City Council and
the following conditions:
1) Reimbursement for the construction of utilities must be water/sewer related and must
include the looping of a 16” water line, and
2) The development must include a 7-acre tract deed restricted for hotel use. The final
agreement will include language to ensure the successful development of a full-service
hotel on those 7 acres.
Once you review these incentives, our City Attorney will be advised of the preliminary
offer to begin work on final documents that will need to be approved by City Council. If
you have any questions, please don’t hesitate to call me or Mindi Hurley at (972) 304-
3677.
Sincerely,
Jim Witt
City Manager
CC: Jeff Thornton, Duke Realty
Alex Bennett, Duke Realty
Ken Griffin, City of Coppell
Chad Beach, City of Coppell
Clay Phillips, City of Coppell
Mindi Hurley, City of Coppell