The City of Coppell
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File #: 2020-5190    Version: 1 Name: Northpoint Hotel Group - First Amendment to Tax Abatement Agreements for Aloft and Holiday Inn Express
Type: Resolution Status: Passed
File created: 7/2/2020 In control: City Council
On agenda: 7/14/2020 Final action: 7/14/2020
Title: Consider approval of two Resolutions for two First Amendment to Tax Abatement Agreements by and between the City of Coppell and Northpoint Hotel Group, LLC; and authorizing the Mayor to sign.
Attachments: 1. First Amendment to Tax Abatement Memo.pdf, 2. Aloft - First Amendment to Tax Abatement Agreement.pdf, 3. Northpoint - First Amendment to Tax Abatement Agreement.pdf, 4. Holiday Inn Express - First Amendment to Tax Abatement Agreement.pdf, 5. First Amendment to Tax Abatement Agreement - Northpoint Hotel Group.pdf

Title

Consider approval of two Resolutions for two First Amendment to Tax Abatement Agreements by and between the City of Coppell and Northpoint Hotel Group, LLC; and authorizing the Mayor to sign.

 

Summary

City Council approved two Tax Abatement Agreements with Northpoint Hotel Group, LLC on November 25, 2018.  This First Amendment to Tax Abatement Agreements extends the required deadlines for Commencement of Construction and Completion of Construction for the two hotels they are constructing. Those hotels are the Aloft Hotel and Holiday Inn Express. Due to COVID-19, their construction has been delayed, which is why the original dates are being extended.

 

Fiscal Impact:

N/A

 

Staff Recommendation:

Staff recommends approval.

 

Goal Icon:

 

Business Prosperity