Title
Discussion, Consideration, and Possible Action on an Economic Development Agreement between the Mansfield Economic Development Corporation and SCSD-Finnell, Ltd.
Requested Action
Consider and approve the Economic Development Agreement between the Mansfield Economic Development Corporation and SCSD-Finnell, Ltd.
Recommendation
Approve the Agreement
Description/History
SCSD-Finnell, Ltd. is constructing a 7,500 square foot commercial building located at 1741 East Debbie Lane in Mansfield, Texas. SCSD-Finnell, Ltd. will invest no less than $3,000,000 and receive a Certificate of Occupancy no later than December 31, 2026. The construction of the commercial building will create a minimum of 50 full-time employees. Mansfield Economic Development will provide a grant of the lesser of: 100% actual costs or $78,600.00 for the installation of a sanitary sewer line.
Justification
MEDC has identified destination retail, restaurants, and entertainment as a target industry to attract to Mansfield as part of the Mansfield 2040 Comprehensive Plan. This commercial building will provide a location for unique dining and shopping.
Funding Source
MEDC
Prepared By
Natalie Phelps, Economic Development Manager, 817-728-3653