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COPPELL
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Economic Development
255 Parkway Blvd
Coppell, Texas 75019
Phone: 972-304-3677
Fax: 972-304-3673
PROJECT:
DEPARTMENT CONTACT: Andrea L. Roy
DIRECT DIAL: 972-304-3677
FAX COVER SHEET
DATE:
October 6, 2003
PAGES:;( (including cover)
TO:
Jeff Turner
FAX: 972-361-6800
Attachments
1. Cost Estimates for improvements along Royal Lane, in conjunction
with development of Emerson tract.
Remarks
Jeff-I located our cost estimates for the work that would be required as a result of
development of the Emerson property. The City would be willing to participate in a
cost sharing effort (through a 380 grant) in order to see development occur on this
site. If you have any questions or comments, I can be reached at 972-304-3677 or e-
mail: aroy@ci.coppell.tx.us
P.S. Ken said that you could probably get better prices than the City on most of
these items, simply because of us being a municipality.
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Royal Lane Improvements Agreement
Initial Agreement (Prior to July 2002)
City would contribute $364,000 toward improvements in the form of a (380)
Grant.
The City would pay the amount in four (4) installments to the developer beginning
January 10, 2004. This date was chosen, because this was the time frame the
City was initially looking at for improvements in this area. Developer would have
to front funds for improvements at this time.
Resubmitted Agreement (by Owner)
Asked that the City pay $610,000 toward the Royal Lane Improvements in two
(2) installments beginning 14 days after commencement of activity and the
second soon thereafter. This proposal was unacceptable to the City Council.
The owner would contribute approx. $20,000-$25,000 to the project, while the
City's expectation were higher.
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Royal Lane Improvements Agreement
Initial Agreement (Prior to July 2002)
City would contribute $364,000 toward improvements in the form of a (380)
Grant.
The City would pay the amount in four (4) installments to the developer beginning
January 10, 2004. This date was chosen, because this was the time frame the
City was initially looking at for improvements in this area. Developer would have
to front funds for improvements at this time.
Resubmitted Agreement (by Owner)
Asked that the City pay $610,000 toward the Royal Lane Improvements in two
(2) installments beginning 14 days after commencement of activity and the
second soon thereafter. This proposal was unacceptable to the City Council.
The owner would contribute approx. $20,000-$25,000 to the project, while the
City's expectation were higher.
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