Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Development and Performance Agreement by and Between the Mansfield Economic Development Corporation (“MEDC”) and BCB Transport Holdings Company, LLC, and Authorizing its Execution by the President of the MEDC; and Providing an Effective Date
Requested Action
Consider selling MEDC 5.96 AC parcel located on 2nd Ave. to BCB Transport
Recommendation
Sell MEDC 5.96 AC parcel located on 2nd Ave. to BCB Transport
Description/History
BCB Transport, a third party logistics company, located to Mansfield in March 2011. They quickly grew out of their 25,000 square foot lease space at 1206 Antler Drive and realized the land they purchased to the south of 1206 Antler was not large enough to accommodate their growing operations. In 2013, MEDC entered into an agreement with BCB to swap their property on Antler Dr. with MEDC’s property on Airport Dr. BCB built an approximately 59,000 SF facility with intentions of a Phase II expansion.
In April 2022, BCB announced they will be moving forward with construction of the Phase II warehouse. This warehouse is proposed to be 203,000 SF with a capital investment of $17MM. MEDC owns a 5.96 AC parcel on 2nd Ave. adjacent to the south of BCB’s proposed project. At the June 2022 board meeting, the MEDC Board approved a recommendation to sell the parcel for appraised value to be reimbursed upon completion of the improvements and benchmarks met in the economic development agreement. This will allow BCB to build an additional 40,000 SF to make the building a total of 203,000 SF. Any additional jobs will be transportation related and most likely not based in Mansfield.
Justification
Assist an existing business to continue to grow in Mansfield and to add vacant and non-taxable land to the tax rolls.
Funding Source
N/A
Prepared By
Jason Moore, MEDC, 817-728-3651