Title
Consider approval of a Resolution approving a Tax Abatement Agreement between the City of Coppell and Arosh, LLC, and authorizing the Mayor to sign.
Summary
Executive Summary:
City Council held a Public Hearing regarding the designation of Reinvestment Zone No. 72 on October 9, 2012. Arosh, LLC will construct one select service hotel with an attached conference center. The duration of the tax abatement will be10 years, and it will be applied to the real and business personal property for Arosh, LLC. The percentage abated will be as follows: 100% for years 1 and 2, 75% for years 3 through 8 and 50% for years 9 and 10.
Fiscal Impact:
Staff Recommendation:
Staff recommends approval.
Goal Icon:
Business Prosperity