Summit P1-CS 890421BAPTIST FOUNDATION of TEXAS
CALVIN B. REEVES
April 21, 1989
Lou Duggan, Mayor
City of CoppeU, Texas
P. O. Box 478_
CoppeU, Texas 75019
Judi Baggett, President
Coppell Independent School District
1201 Wrangler Drive
Coppell, Texas 75019
Dear Ms. Baggett and Mr. Duggan:
Since your letter to the Baptist Foundation of Texas of March 14, 1989
concerning the proposed reinvestment zone and tax abatement for the 115 acres
of property of the Foundation in the City of Coppell, it has been brought to all of
our attention that part of the proposed abatement might be a legal problem
resulting from two different senate bills passed by the 70th Legislature
concerning these matters.
We have met with your attorneys and with you to discuss these matters and
as a result of those meetings and of our further study of the economics of this
matter, we will proceed along the lines set forth in your letter of March 14,
1989, except that the abatement will not apply to current taxes paid on the land
(whether based on agricultural use or market valuation) to the City and School
District. The taxes abated, being the difference between current taxes paid on
the land and taxes that would otherwise be due thereon except for the
abatement, would apply only to the 115 acres of land and would not apply to
buildings or other improvements placed thereon.
We understand that this is acceptable to you and to acknowledge that, I
would appreciate it if you would please sign and return one copy of this letter.
Upon receipt of a signed copy of this letter, our attorneys, Burford &
Ryburn, wiU proceed to prepare the first draft of the proposed Guidelines and
Criteria for the reinvestment zone to be the 115 acres of property now owned by
Baptist Foundation of Texas. Upon approval by all three parties of the
An A,2cncy of ]'he l{aptl~! Gcncral Convcni ion of Texas
Ms. Judi Baggett
Mr. Lou Duggan
April 21, 1989
Page 2
Guidelines and Criteria, we will then prepare an agreement between the parties
and all of us shall proceed to take the necessary steps to adopt the requisite
ordinances to effectuate the agreement and the Guidelines and Criteria.
Please let me hear from you at your earliest opportunity.
Sincerely,
Calvin B. Reeves
AGREED:
CITY OF
Duggan,
---~ou Mayor
COPPELL INDEPENDENT SCHOOL DISTRICT
/dd~ Baggett, Prat
CBR/]o