Title
Consider approval of a Resolution approving the second amendment to Tax Abatement Agreement by and between the City of Coppell and Northpoint Hotel Group, LLC; and authorizing the Mayor to sign.
Summary
City Council approved a First Amendment to Tax Abatement Agreement for Northpoint Hotel Group, LLC for the Aloft Hotel in November 2018. This Amendment Agreement extends the required deadline for Completion of Construction for the Aloft Hotel. The first extension was necessary due to COVID-19m which delayed construction, and this extension is due to a shortage of labor and materials. The new Completion of Construction date is set at December 31, 2021, through this agreement.
Fiscal Impact:
N/A
Staff Recommendation:
Staff recommends approval.
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