Title
Resolution - A Resolution Authorizing a Financial Commitment by the Mansfield Economic Development Corporation to Participate in the Funding for Construction of Antler Drive in an Amount not to Exceed $1.5 Million
Requested Action
Approve the funding for Antler Drive construction
Description/History
Staff has been planning to complete construction of Antler Drive to 917 for several years. The extension will open up several industrial properties that are so far inaccessible.
While in the design stage, staff was able to interest AMC Warehouse in the Peyco 32 acre property which will be on the west side of the Antler extension. They have informed us that they are now ready to close on the property and that their bank needs evidence that the funding is in place for the construction of the road
At the May 3, 2016 MEDC Board meeting, the Board unanimously (6/0) approved funding up to $1.5 million for the construction. While the engineering firm has yet to provide a Probable Cost estimate, Mansfield engineering staff believes that should more than cover the road construction.
Prepared by
Scott Welmaker, Mansfield Economic Development Corp. 817-266-5890