Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Development Agreement Between the City of Mansfield, the Board of Directors for Tax Increment Reinvestment Zone Number One, LG Mansfield Heritage Parkway LLC, and LG Mansfield Emily Lane LLC; Authorizing the City Manager or his Designee, and Board Chair of TIRZ Number One, to Negotiate, Finalize and Execute said Agreement; and Finding that the Meeting at which this Resolution is Passed is Open to the Public as Required by Law, and Declaring an Effective Date (TIRZ #1)
Requested Action
Authorization for the aforementioned parties to enter into an economic development agreement and execute said agreement.
Recommendation
Staff recommends approval.
Description/History
The City’s Master Thoroughfare Plan and the TIRZ One Project Plan includes the expansion of Cannon Drive, between Matlock and Cannon Rd. North, Tarrant County, Texas.
Justification
The City Council finds this agreement to be of benefit to TIRZ #1.
Funding Source
TIRZ #1
Prepared By
Matt Jones, Assistant City Manager