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 Mouser Electronics and Authorizing its Execution by the President of the MEDC; and Providing an Effective Date.
Requested Action
Authorize staff to proceed
Staff Recommendation
Approve the agreement.
Description/History
The design of Mouser Way from House Road to US287 is in design. Mouser Electronics is finishing the first phase of their expansion. A few years ago the MEDC Board agreed to participate in up to $400,000 toward the completion of Mouser Way.
Mouser Electronics needs the portion fronting their expansion constructed as soon as possible. Discussions with Engineering Staff have concluded the most expeditious way to accomplish this would be for Mouser Electronics to contract to construct that portion of Mouser Way and that MEDC reimburse the cost up to the Board’s previous commitment.
At the January 5, 2016 Board meeting, the MEDC Board authorized staff to proceed with negotiations to reimburse up to $400,000 for acquisition of necessary ROW, to be acquired by the City, and construction of the portion of the road requested by Mouser. The estimate for construction of the portion of the road is $345,000. ROW acquisition is TBD. The vote was 6/0 with Selim Fiagome absent.
Funding Source: 4A
Additional Information: Plans detailing section of Mouser Way being requested.
Prepared by
Scott Welmaker, Mansfield Economic Development Corporation, 817-266-5890