File #: 25-6397    Version: 1 Name: Resolution - A Resolution of the City of Mansfield, Texas Calling for a Public Hearing on the Creation of Staybolt Public Improvement District Within the Corporate Limits of the City of Mansfield, Texas
Type: Resolution Status: Passed
File created: 1/23/2025 In control: City Council
On agenda: 1/27/2025 Final action: 1/27/2025
Title: Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Accepting a Petition for Calling a Public Hearing on the Advisability of the Improvements and Creation of the City of Mansfield Staybolt Public Improvement District Within the Corporate Limits of the City of Mansfield Pursuant to Chapter 372, Texas Local Government Code, and Authorizing the Mailing and Publication of Notice of Public Hearing
Sponsors: Matt Jones
Attachments: 1. Resolution, 2. Exhibit 1, 3. Exhibit 2

Title

Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Accepting a Petition for Calling a Public Hearing on the Advisability of the Improvements and Creation of the City of Mansfield Staybolt Public Improvement District Within the Corporate Limits of the City of Mansfield Pursuant to Chapter 372, Texas Local Government Code, and Authorizing the Mailing and Publication of Notice of Public Hearing

 

Requested Action

Accept the petition for the creation of the Staybolt Public Improvement District and call a Public Hearing for February 24, 2025.

 

Recommendation

Staff recommends approval.

 

Description/History

Staybolt Street is the entertainment district identified in the 2040 Future Land Use Plan.  The developer intends to develop approximately 615 residential units as part of the overall Staybolt Entertainment District.

Justification

The Public Improvement District (PID) and its use in the district is in alignment with the Mansfield Economic Incentives Policy.  The PID funding is required for the construction of the public infrastructure and public amenities within the district, whereas the development would not be possible without the PID creation.

 

Funding Source

N/A

 

Prepared By

Matt Jones, Assistant City Manager