Title
Resolution - A Resolution of the City of Mansfield, Texas, Approving an Economic Development Agreement between the City of Mansfield, Texas, the Mansfield Economic Development Corporation, and Super Studios Mansfield, LLC; Authorizing the City Manager or his designee, and MEDC President, to Execute Said Agreement; and Providing an Effective Date
Requested Action
Consider Approval of the Economic Development Agreement with Super Studios Mansfield, LLC
Recommendation
Approval of the Economic Development Agreement with Super Studios Mansfield, LLC
Description/History
Staff has been working with Super Studios Mansfield, LLC for several months on a mixed-use development along the western boundaries of the city limits, on approximately 70 acres owned by the Mansfield Economic Development Corporation, also known as Mansfield Industrial Business Park. The property is located on the northeast corner of Klein Tools Blvd and 7th Avenue.
The first phase of the development will include sound stage clusters that host the film industry for medium to large scale productions. Many of these productions are between six months to one year in duration before entire new sets are created and another production is underway. Upon complete build-out, which is expected over a five year period, it is anticipated that the development will host over 2,000 full time jobs.
The plan contemplates the development of 5 sound stages, various mill shops and technical studios for the development. Additionally, the developer will deliver other commercial uses such as restaurants, retail, and hotels in the early phases. In future phases, residential uses are planned in order to accommodate demand from the production teams. This is planned to alleviate concerns of existing housing stock being purchased for short-term rentals.
Justification
This project will yield a significant diversification of industry and job types to our local economy and will provide sustainable revenue sourc...
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