City of Coppell, Texas - File #: 2013-1055

• File #: 2013-1055
• Version: 1
• Name: Universal Power Group Resolution
• Type: Resolution
• Status: Passed
• File created: 5/6/2013
• In control: Administration
• On agenda: 5/14/2013
• Final action: 5/14/2013
• Title: Consider approval of a Resolution approving a Tax Abatement Agreement between the City of Coppell and Universal Power Group, Inc., and authorizing the Mayor to sign.

Date	Ver.	Action By	Action	Result
5/14/2013	1	City Council	Approved	Pass

Title

Consider approval of a Resolution approving a Tax Abatement Agreement between the City of Coppell and Universal Power Group, Inc., and authorizing the Mayor to sign.

Summary

City Council is scheduled to conduct a Public Hearing regarding the designation of Reinvestment Zone No. 78 on May 14, 2013.  Universal Power Group, Inc. will be leasing approximately 208,800 square feet of office/distribution space at 488 S. Royal Lane.  The terms of this agreement will be a 5 year, 85% abatement on business personal property.  The Coppell Economic Development Committee unanimously recommended approval of this abatement request.  

Fiscal Impact:

Staff Recommendation:

Economic Development recommends approval.

Goal Icon:

Business Prosperity