ST9902-ES050301
......
THE.CITY.OF
COPPELL
March 1, 2005
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Henry M. Billingsley
Crow/Billingsley Investment Company
4100 International Pkwy, Suite 1100
Carrollton, TX 75007
RE: Property at S.H. 121 and Sandy Lake Road
West Sandy Lake Road Project # ST 99-02
Dear Mr. Billingsley:
Attach to this letter is the Development Agreement that covers the acquisition of right-of-way,
drainage and temporary slope easements from your property. If you concur with the agreement,
please sign the documents (3 copies) and return to me. I will then take to City Council for their
approval on April 12, 2005.
The language in the Development Agreement states that in the event the credit exceeds the
amount of the Roadway Impact Fees assessed, or ifno Roadway Impact Fees are assessed, then
the city will be obligated to pay any such remaining credits in cash or cash equivalent to the
Billingsley 121 Coppell, or its successors.
The full financial obligation to Billingsley 121 Coppell, or it successors, will be a total amount of
$331,380. This amount will be provided by a 100% Roadway Impact Fee offset until the amount
is used. If there are remaining funds, once the property is fully developed, any remaining
amount that has not been credited against Roadway Impact Fees will be paid to Billingsley 121
Coppell, or its successors.
If you should have any questions or need any additional information please feel free to contact
me. If not, I will need the signed documents back in my office by April 1, 2005 to prepare the
City Council agenda. Thank you for your consideration of this matter.
Sincerely,
i~ rP.t--
Kenneth M. Griffin, P.E.,
Director of Engineering / Public Works
Office 972/304-3686
Fax 972/304-7041
E-mail h:riftin@ci.coppel1.tx.us
25::, PARKWAY * POBOX 9478 * COPPELL TX 75019 * TEL 972/462 0022 * FAX 972/304 3673