Legislation Details

File #: 25-6413    Version: 1 Name: A Resolution of the BOARD of Directors of the Mansfield economic development corporation Approving a First Amendment to the Economic Development Agreement AND CONTRACT OF SALE between the Mansfield Economic Development Corporation and LONEJACK, LLC; Findi
Type: Resolution Status: Passed
File created: 2/3/2025 In control: Mansfield Economic Development Corporation
On agenda: 2/6/2025 Final action: 2/6/2025
Title: A Resolution of the BOARD of Directors of the Mansfield economic development corporation Approving a First Amendment to the Economic Development Agreement AND CONTRACT OF SALE between the Mansfield Economic Development Corporation and LONEJACK, LLC; Finding that the Meeting at which this Resolution is Passed is Open to the Public as Required by Law; Authorizing The MEDC Board President to Execute Said Agreement; And Declaring an Effective Date
Sponsors: Jason Moore
Attachments: 1. Resolution Lonejack Purchase.pdf

Title

A Resolution of the BOARD of Directors of the Mansfield economic development corporation Approving a First Amendment to the Economic Development Agreement AND CONTRACT OF SALE between the Mansfield Economic Development Corporation and LONEJACK, LLC; Finding that the Meeting at which this Resolution is Passed is Open to the Public as Required by Law; Authorizing The MEDC Board President to Execute Said Agreement; And Declaring an Effective Date

 

Requested Action

Consider the Resolution

 

Recommendation

Approve the Resolution

 

Description/History

This item considers the sale of approximately 25 acres of land on a portion of MEDC owned property, east of Sellmark's existing land and building on Heritage Parkway. This contract is included as part of the economic development agreement, as amended, to include incentives for the development of a new 150,000 sft building.

 

Justification

The agreements have already been approved at a previous Board meeting and by the City Council. Since a resolution was never incorporated as part of the original Board approval, the title company's underwriter is requesting we take action with a resolution in place.

 

Funding Source

N/A