Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Development and Performance Agreement By and Between the Mansfield Economic Development Corporation ("MEDC") and Heritage Parkway Partners LLC, and Authorizing Its Execution by the President of the MEDC; and Providing an Effective Date
Requested Action
Consider developer agreement with Heritage Parkway Partners
Recommendation
Approve Developer Agreement
Description/History
Heritage Parkway Partners are the developers of the site for the AMC Warehouse project. The MEDC Board has recommended:
• Actual Construction and Design Costs, not to exceed $70,000 for Sanitary Sewer improvements;
• Actual Construction and Design Costs, not to exceed $55,000 for the Eastern Channel drainage;
• Actual Construction and Design Costs, not to exceed $175,000 for Mitigation Bank Credits;
• Actual Construction and Design Costs, not to exceed $200,000 for the Northern Channel drainage.
• Total reimbursement not to exceed $400,000
Justification
N/A
Funding Source
4A
Prepared By
Scott Welmaker, MEDC