Historic Coppell-CS051024
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Legal Name Historic Coppcll Propcrtics Addition
Historic Coppell Propertics
30 I Mcadow Crcek Road
CoppelL TX 75019
Ph 972-304-50XO
Lot Size: 3.29 acrcs Total (located along the s. side of Bethcl Rd, approx. 185 ft.
cast of Coppcll Rd)
Lot I 1615 acres (Only purchasing Lot I at this time wi option for Lot 2)
Lot 2 1.641 acres
Building Size: 16,697 sq. ft. medical office (on Lot I/Phase 1)
16.421 sq ft. mcdical office (planned for Lot 2/Phase 2)
Land Sale Terms: -$175 per sq. ft. ($123,112 for Lot I)
-$175 per sq ft. ($125,194 for Lot 2)
-Option to purchase Lot 2 $25JlOO down If executed, $25,000 goes
toward price of land.
Incentives Requested hy Coppell Historic Properties:
-5-year, 75% Tax Abatement (Real and Personal Property)
-50% Relief to Roadway Impact Fees (estimated at $17,000 total)
-50% Relief to Building Permit Fees (estimated at $X.OOO total)
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I) City Attorney (Pete G Smith) has forwarded final draft of agreements to City,
excluding 3XO Grant. 3XO is in process ofbemg completed-expect any1ime in next eouple
of days
2) We arc awaiting separate legal for lot I and lot 2 to include in land sale -agreements.
Was promised by last Friday. but realistically expect this week
3) Coppell Historic Properties IS currently awaiting bank responses for fmancing the
project.
4) Coppell Historic Properties has been fOf\varded all five agreements.
5) Contractor has been selected, Structures & Interiors (Mike Lease). He is ready to
move forward. He was to have called Jinl to check into possibility of starting work sooner
than the execution of all sale agreements. Outcome')
6) Matt Steer talked to rep Irom Structures & Interiors regarding changes to the plat
prior to recordation-should be undemay
7) Outstanding bills- City owes Roger Hart (Surveyor) a total 01'$4)05 for completion of
the tree survey, and boundary surveyllcgal description Awaiting statement from Roger
Hart, will fOf\vard to Kathy once we receive everything he needs to give us. This is not
part of incentive package-cost of selling the land.
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