From
Letecia McClendon
Title
Resolution granting 380 Incentive Agreement with Dolabi Family LTD, doing business as National Autobody Parts, granting a 75% rebate on real property improvements for nine years
Presenter
Marty Wieder, Economic Development Director
Recommended Action
Approve
Analysis
Dolabi Family LTD (doing business as National Autobody Parts, headquartered at 2000 East Main here in Grand Prairie), started in 1993 has operated its Dallas/Fort Worth Headquarters/Main Warehouse here for more than twenty years. The company warehouses and distributes auto body and collision repair parts. While National Autobody Parts touts itself as “the largest aftermarket parts supplier in Texas" and the company does ship “anywhere in the U.S.” out of its existing 170,000 square foot facility - it primarily serves Texas, Louisiana, Oklahoma and Arkansas.
National Autobody Part’s business has grown to the point that they desire to build a new 25,000 square foot corporate office to house administrative and sales offices - as well as to modernize existing warehouse operations by adding fiber optic infrastructure and inventory software to maximize data collection and account for inventory and sales. Moreover, the company will also now be able to generate taxable sales in addition to wholesale transactions.
National Autobody Parts ownership communicated to Economic Development staff that if Grand Prairie grants them incentives as requested, it will help them to extend the estimated economic life of National Autobody’s existing plant for another 15 years. Thus, as an incentive for National Autobody to expand its operations in Grand Prairie staff is recommending Council consideration of a nine-year, 75% property tax rebate on their real and business personal property, exclusive of inventory.
Financial Consideration
Projected Investment - Added Real Estate Improvements: $5,460,000
Projected - Real Property Rebate: $27,436.42 per year ($246,927.76 over...
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