Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Granting Support and Consent to Creation of Somerset Village Municipal Management District of Ellis County and the Inclusion of Approximately 70.897 Acres of Land into the District; 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
Staff is requesting City Council's review and approval of a granting of support.
Recommendation
Staff recommends approval.
Description/History
"Somerset Village" is the name of the proposed development on approximately 70 acres of real property located off U.S. 287 and north of St. Paul Road which is proposed to include diverse housing options, retail, commercial, parks, and open space to be developed in phases.
Municipal Management Districts (MMD) is an economic development tool included in the Mansfield Economic Incentive Policy to spur high-quality development.
Justification
Staff believes it is in the best interest of the City to partner with the Developer to create high-quality amenities and infrastructure, and complete neighborhoods in the development.
Funding Source
MMD
Prepared By
Matt Jones, Assistant City Manager