Title
Resolution - A Resolution Approving the Extension of an Economic Development Program Agreement (Chapter 380 Agreement) Made and Entered into by and Between the City of Mansfield, a Municipal Corporation, Organized Under and Existing Pursuant to the Constitution and Laws of the State of Texas, and Pavilion Properties, a Texas Non-Profit Corporation Organized and Existing Pursuant to the Laws of the State of Texas; Pavilion Properties is Affiliated with Methodist Mansfield Medical Center
Requested Action
Approve a resolution authorizing an extension of the Economic Development Program Agreement between the City of Mansfield and Pavilion Properties. Pavilion Properties is affiliated with Methodist Mansfield Medical Center.
Recommendation
Approval of resolution.
Description/History
The City of Mansfield, Texas entered into an Economic Development Program Agreement with Pavilion Properties, a Texas non-profit corporation organized and existing pursuant to the laws of the State of Texas. The agreement outlines terms and conditions between the two entities and the economic impact that Methodist Mansfield Medical Center has in the City. In February of 2014 the City entered into the agreement which stated terms that Pavilion properties would complete the second Professional Medical Office Building by December 31, 2017 to receive what is essentially a $200,000 tax rebate. The rebate will be paid upon the collection of the property taxes paid by Pavilion Properties to the City.
Pavilion Properties via Methodist Mansfield Medical Center has asked for additional time to complete the Professional Office Building because of weather delays. They are stating that they need until January 31, 2018 because additional days of weather delayed their project. They have stated that they allowed for 10 weather days in the construction schedule but suffered 23 days of weather that caused delays in the construction of the Professional Office Building.
Justification
Metho...
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