City Mgr. letter of Duke-City incentives
THE.CITY.OF
corrELL
August 9, 2006
Jeff Turner
Senior Vice President
Duke Realty Corporation
5495 Belt Line Road, Suite 360
Dallas, TX 75254
RE: Lesley Tract
Dear Jeff,
As previously discussed, City Council reviewed your proposed site plan for the Lesley
Tract, and Council is excited about the plan you all have put together as well as the
potential development that will soon take place at this site. Based on preliminary
discussions, the city is prepared to offer the following incentives:
. The city will provide water/sewer utility assistance of up to $1,500,000 to be
reimbursed as work is completed and must include the looping of a 16" water line;
. The city will provide $1,500,000 in infrastructure assistance for public infrastructure
improvements to be reimbursed as work is completed;
. The city will provide a grant of $200,000 for a traffic signal at the intersection of
Dividend and Belt Line Rd. to be built to the specifications provided by the city;
. The city will adjust the Major Thoroughfare Plan as well as provide assistance in
discussions with TxDOT to facilitate a connector road to IH635E, which equates to a
value of $1,000,000 in savings for Duke;
. The city will rebate back to Duke up to $600,000 ofthe city's portion of rollback
taxes as they become payable to the city;
. The city will waive 100% of the Roadway Impact fees for the site up to $1,725,000;
. A 75% abatement of city taxes for a period of 5 years for all industrial and office
buildings on the site.
The city also commits that a natural landscape buffer will be sufficient in lieu of any
concrete or masonry screening walls for the industrial buildings along Dividend Blvd.
Additionally, no above standard landscaping will be required. Landscaping similar to
that installed by Duke in its Freeport North Industrial Park will be sufficient for the
screening of the industrial buildings.
It is sufficient for the materials, articulation and facades of the industrial buildings
located within the 184.56-acre park to be architecturally compatible with similar
255 PARKWAY * P.O.BOX 9478 * COPPELL TX 75019 * TEL 972/462 0022 * FAX 972/304 3673
Jeff Tumer
August 9,2006
Page 2
industrial buildings along Royal Lane and Freeport Parkway in the city of Coppell. In
addition, fayade materials similar to that of the Washington Mutual building located at
LBJ and Freeport Parkway will be sufficient for the value office buildings within the
park. All buildings must adhere to the architectural standards provided in the Zoning
Ordinance.
The city understands that the configurations listed on the preliminary site plan are
conceptual in nature and may vary slightly, but the total square footage of office and
industrial space should remain consistent with the plan as originally submitted.
The conceptual site plan and contents ofthis letter have been discussed and preliminarily
agreed upon by City Council. However, all incentives outlined above will be contingent
upon final approval by City Council and the following conditions:
1) Reimbursement for the construction of utilities must be water/sewer related and must
include the looping of a 16" water line, and
2) The development must include a 7-acre tract deed restricted for hotel use. The final
agreement will include language to ensure the successful development of a full-service
hotel on those 7 acres.
Once you review these incentives, our City Attorney will be advised of the preliminary
offer to begin work on final documents that will need to be approved by City Council. If
you have any questions, please don't hesitate to call me or Mindi Hurley at (972) 304-
3677.
Sin?~elY,
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/~ 1m Witt
P' City Manager
CC: Jeff Thornton, Duke Realty
Alex Bennett, Duke Realty
Ken Griffin, City of Coppell
Chad Beach, City of Coppell
Clay Phillips, City of Coppell
Mindi Hurley, City of Coppell