Title
Consider approval of a Resolution approving a Tax Abatement Agreement between the City of Coppell and Naterra International, Inc., and authorizing the Mayor to sign.
Summary
City Council is scheduled to conduct a Public Hearing regarding the designation of Reinvestment Zone No. 70 on May 14, 2013. Naterra International, Inc. will be constructing and occupying a building approximately 300,000 square feet in size at the southeast corner of Freeport Parkway and Wrangler Drive. This building will serve as their corporate headquarters and warehouse. The terms of this agreement will be a 10 year, 80% abatement on real property and 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