The City of Coppell
File #: 2023-7296    Version: 1 Name: Purchase Agreement - Lovett Development water line
Type: Agenda Item Status: Passed
File created: 1/16/2024 In control: City Council
On agenda: 1/23/2024 Final action:
Title: Consider approval of a Development Agreement between the City of Coppell and COP Lovett 121 Logistics Park, LLC for the purchase of a water line in an amount not to exceed $472,000 as provided for through fee waivers and Water Sewer Retained Earnings Fund; and authorize the Mayor to sign.
Attachments: 1. Memo.pdf, 2. Development Agreement.pdf

Title

Consider approval of a Development Agreement between the City of Coppell and COP Lovett 121 Logistics Park, LLC for the purchase of a water line in an amount not to exceed $472,000 as provided for through fee waivers and Water Sewer Retained Earnings Fund; and authorize the Mayor to sign.

 

Summary

Lovett Industrial will bore under S.H. 121 and build a 12” water line for the City of Coppell.  The City will be paying for actual costs associated with the water line in an amount not to exceed $472,000.

 

Fiscal Impact:

An amount not to exceed $472,000 will be provided for through fee waivers and Retained Earnings of the Water Sewer Fund.

 

Staff Recommendation:

Staff recommends approval.

 

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