Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Authorizing the Purchase of 1.154 Acres at the Northeast Corner of Regency Parkway and Heritage Parkway, Tarrant County, Texas; Authorizing the Execution of any Documents Necessary to Implement this Resolution; Finding that the Meeting at which this Resolution is Passed is Open to the Public as Required by Law; and Providing an Effective Date (TIRZ #1)
Requested Action
Consider an Resolution approving the purchase of an additional 1.154 acres at the northeast corner of Regency Parkway and Heritage Parkway.
Recommendation
Staff recommends approval of the Resolution.
Description/History
On 10/23/23 Council approved the purchase of approximately 9 acres at the northeast corner of Regency and Heritage Parkway, an area known as the “Reserve” for future development. As development in this area has progressed, City staff has identified that an additional 1.154 acres is necessary and beneficial for the planned development of the area.
Justification
The purchase of the additional 1.154 acres will further Council’s desire to create development in the Reserve which would encourage economic activity in a central location of the City.
Funding Source
TIRZ #1
Prepared By
Matt Jones, Assistant City Manager