Title
Ordinance - Public Hearing and First Reading of an Ordinance of the City Council of the City of Mansfield, Texas, Authorizing the City's Participation in the Texas Enterprise Zone Program Pursuant to the Texas Enterprise Zone Act, Chapter 2303 ("The Act"), Texas Government Code (Act), Providing Tax Incentives, Designating a Liaison for Communication with Interested Parties, and Nominating Mouser Electronics, Inc. to the Office of the Governor Economic Development & Tourism Through the Economic Development Bank as an Enterprise Project
Requested Action
Consider Mouser’s request to be nominated as a Texas Enterprise Project.
Recommendation
Approve the ordinance nominating Mouser for a Texas Enterprise Project.
Description/History
The Texas Enterprise Zone Program is a State program which can reimburse the 6.25% state portion of sales tax they have paid to a successful applicant. No City of Mansfield funds are affected. In order for a company to apply for status as an Enterprise Project, the City must nominate the company applying.
Mouser has requested that the City pass an ordinance nominating Mouser before June 1. The process to receive an Enterprise Project designation is competitive. Mouser believes their best chance for a successful application is in the June 1 application deadline.
The physical geographic zones are designated by the U. S. Census Bureau.
Required notice of the public hearing was published in the Fort Worth Star Telegram on May 11, 2017 (attached).
Representatives from the consultant, Grant Thornton, have advised staff they will be in attendance at the City Council meetings.
Justification
Mouser is the City’s largest private employer and taxpayer. Successful application will help them continue to grow in Mansfield.
Funding Source
N/A
Prepared By
Shelly Lanners; Scott Welmaker 817-728-3651, 817-266-5890