The City of Coppell
File #: 2021-5732    Version: 1 Name: Resolution - 1-800-Contacts
Type: Resolution Status: Passed
File created: 5/27/2021 In control: City Council
On agenda: 6/8/2021 Final action:
Title: Consider approval of a Resolution approving a Tax Abatement Agreement by and among the City of Coppell and 1-800 CONTACTS, INC.; and authorizing the Mayor to sign.
Attachments: 1. Resolution Memo - 1-800 Contacts.pdf, 2. Resolution Approving 1800-CONTACTS Tax Abatement Agreement.pdf, 3. 1-800 CONTACTS Tax Abatement Agreement.pdf

Title

Consider approval of a Resolution approving a Tax Abatement Agreement by and among the City of Coppell and 1-800 CONTACTS, INC.; and authorizing the Mayor to sign.

 

Summary

A public hearing was held and an Ordinance was passed to create Reinvestment Zone No. 112 on May 25, 2021.  1-800-CONTACTS will lease approximately 31,400 square feet of office and warehouse space at 180 N. Freeport Parkway.  This space will serve as a fulfillment center for the company.  1-800 CONTACTS will receive a 5-year abatement of 75% on their tangible personal property.

 

Fiscal Impact:

75% abatement on tangible personal property for a duration of 5 years.

 

Staff Recommendation:

Staff recommends approval.

 

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