Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Authorizing the City Manager or his Designee to Negotiate, Finalize, and Execute a Development Agreement with IPRR SOUTH POINTE-9, LLC; Finding that the Meeting at which this Resolution is Passed is Open to the Public as Required by Law; and Declaring an Effective Date
Requested Action
Authorization to negotiate, finalize, and execute development agreement with IPRR SOUTH POINTE-9, LLC for Phase 9 of the South Pointe Development.
Recommendation
Staff recommends approval
Description/History
South Pointe is approximately 80 acres of real property being developed as a mixed-use community with a complementary mixture of retail, residential, civic space, and more. Residential product types include flats and row houses. Minimum ground floor flex retail space is 15,000 sqft and minimum retail ready commercial space is 22,000 sqft, however there is no restriction for the development partner to provide additional commercial space.
Justification
South Pointe is a walkable, mixed-use development with a mixture of commercial, retail, and park space. Phase 9 of the development will include row houses and multifamily complexes surrounding a civic park lined by retail ready space (site layouts are included as attachments.
Funding Source
TIRZ 1
Prepared By
Matt Jones, Assistant City Manager