CITY OF MANSFIELD - File #: 25-6414

• File #: 25-6414
• Version: 1
• Name: A Resolution of the BOARD of Directors of the Mansfield economic development corporation Approving AN Economic Development Agreement AND CONTRACT OF SALE between the Mansfield Economic Development Corporation and MIC HOLDINGS DEVELOPMENT LP; Finding that
• 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 AN Economic Development Agreement AND CONTRACT OF SALE between the Mansfield Economic Development Corporation and MIC HOLDINGS DEVELOPMENT LP; 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

Date	Ver.	Action By	Action	Result
2/6/2025	1	Mansfield Economic Development Corporation	Approved	Pass

Title

A Resolution of the BOARD of Directors of the Mansfield economic development corporation Approving AN Economic Development Agreement AND CONTRACT OF SALE between the Mansfield Economic Development Corporation and MIC HOLDINGS DEVELOPMENT LP; 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 17 acres of land of MEDC owned property, located at the northwest corner of Heritage Parkway and Regency Parkway. The contract has a reversionary clause that if the development and agreement terms are not met, the land will revert back to the MEDC.

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

Prepared By

Jason Moore, Executive Director