File #: 15-1583    Version: 1 Name: 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 Meehan Properties, LLC and Authorizing it
Type: Resolution Status: Passed
File created: 10/30/2015 In control: City Council
On agenda: 11/9/2015 Final action: 11/9/2015
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 Meehan Properties, LLC and Authorizing its Execution by the President of the MEDC; and Providing an Effective Date
Sponsors: Scott Welmaker
Attachments: 1. Resolution - Meehan Properties LLC, 2. Meehan-Nationwide Construction ED Agreement, 3. Nationwide HQ Renderings

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 Meehan Properties, LLC and Authorizing its Execution by the President of the MEDC; and Providing an Effective Date

 

Requested Action

Consider approving Meehan Properties, L.L.C. Economic Development Agreement.

 

Staff Recommendation

The MEDC Board has recommended reimbursement not to exceed $150,000 for earthwork, site utilities and site paving for Nationwide Construction’s new headquarters office and warehouse facility to be located at 721 5th Avenue being developed by Meehan Properties, LLC.

 

Description/History

Nationwide Construction is a full service design / build construction firm owned by  Mr. Tony Meehan. Mr. Meehan currently owns 13.95 acres of industrial land off 5th Avenue in Mansfield. Mr. Meehan would like to build a new headquarters office and warehouse building for Nationwide Construction on an approximate 6 acre portion of this land. The building would be approximately 30,650 sq. ft. plus a yard for outside storage of construction equipment. The anticipated capital investment for the faclity is approximately $2.1 million. Nationwide currently has 25 employees and expects to add an additional 5 employees over the next 5 years.

 

Justification (Benefit) 

 

Funding Source

4A

 

Prepared by

Scott Welmaker, Mansfield Economic Development Corporation, 817-266-5890