From
Marty Wieder, Economic Development Director
Title
Resolution amending Resolution 4940-2018 granting a revised 380 Incentive Agreement with Dolabi Family LTD, doing business as National Autobody Parts, granting a 75% rebate on real property for nine years and rebating a share of selected fees
Presenter
Marty Wieder, Economic Development Director
Recommended Action
Approve
Analysis
Dolabi Family LTD (doing business as National Autobody Parts, headquartered at 2000 East Main), submitted a revised Application for Tax Incentives associated with the resolution Council passed on October 19, 2017, granting the company a 75% rebate on real property for nine years. Council subsequently passed a revised resolution with reduced real estate investment and job creation on March 8, 2019.
While National Autobody Parts still desires 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), the company has also recently requested a share of their fee costs. More specifically, owner Mike Dolabi has asked that the City rebate a portion of his plans review, building permit and water tap and meter fees-and is requesting $9,137 rebate (or approximately 33% of the total of these fees) upon completion of his building and issuance of a Certificate of Occupancy. City staff has reviewed and consulted with National Autobody Parts, and recommends Council consideration of the company’s request.
Financial Consideration
Projected Investment - Added Real Estate Improvements: $3,750,000
Projected - Real Property Rebate: $25,124.92 per year (or $226,124.28 over 9 years)
Body
A RESOLUTION AMENDING RESOLUTION 4940-2018 OF THE CITY OF GRAND PRAIRIE, TEXAS, TO ENTER INTO A REVISED CHAPTER 380 AGREEMENT WITH DOLABI FAMILY LTD FOR REBATE ON REAL AND PERSONAL PR...
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