EC ltr. re incentivesMarci8 Diamond; F~8~6~B~rn§ Proj~St
From: Andrea Roy
To: Bill@hayjones.com
Date: 3/20/03 2:05PM
Subject: Freeport/Burns Project
Mr. Jones:
I have discussed with City Officials the possibility of providing some level of economic development
incentives for your proposed project. Because the estimated values of the proposed 105,000 sq. ft. facility
fall below the City's $5.5 million minimum investment value, any incentives must be extremely
well-justified. While we agree that the property's drainage issues and somewhat limiting layout restrict the
type of development, the project is a speculative office/warehouse building without a known tenant. The
Economic Development Committee has, on very rare occasion, granted incentives to projects with values
below the $5.5 million if they were owner-occupied facilities or projects with a known tenant, generating a
notable amount of sales tax that essentially brought the values close to the $5.5 million.
The City will, of course, assist you in any way throughout the development process and would consider
discussing incentives with future tenants.
If you have any questions, please feel free to contact me directly at 972-304-3677 or via e-mail.
Sincerely,
Andrea L. Roy
Economic Development Coordinator
City of Coppell