ST16-01A-ES220405
100% Employee Owned Austin Industries, Inc.
P.O. 1590
Dallas, Texas 75221
3535 Travis Street, Suite 300 (75204)
214/443-5500
April 5, 2022
Cole Baker, E.I.T
255 E. Parkway, PO Box 9478
Coppell, TX 75019
Dear Mr. Cole Baker:
This counteroffer letter responds to the initial offer letter dated February 21, 2022, a copy of which is
attached for your convenience.
1199 S Belt Line, Inc. (“Austin”) has reviewed the initial offer for the two sidewalk easements and a
permanent right-of-way (the “Property”) for the S Belt Line Road Reconstruction project, and rejects the
initial offer of $28,446 ($6.00 psf). Instead, Austin proposes to sell and convey the Property to the City
of Coppell (the “City”) for a total of $56,892, which is broken out accordingly:
Right-of-way: $55,176 ($12.00 psf)
Two Easements: $1,716 ($6.00 psf)
Austin has consulted with local brokers and received a list of sales comps for the surrounding area and
the counter-offer proposed represents a more realistic expectation of the value of this land.
We look forward to the City’s response. To respond to the counteroffer, please contact:
Chris Wong at (214) 443-5634 or via email at wwong@austin-ind.com
Sincerely,
Chris Wong
Director Asset Management