Title
Resolution - A Resolution Authorizing and Approving the Creation of the Mansfield Public Facility Corporation Pursuant to Chapter 303 of the Texas Local Government Code to Act on Behalf of the City of Mansfield, Texas; Approving the Certificate of Formation and Bylaws Related Thereto; and Resolving Other Matters in Connection Therewith
Requested Action
Approve the creation of the Mansfield PFC.
Recommendation
Staff recommends approval of the Resolution.
Description/History
The Resolution approves the certificate of formation and bylaws related to the Mansfield Public Facility Corporation.
Justification
In order to provide an opportunity for a quality development on a challenging piece of property, the city intends to approve the Mansfield Public Facility Corporation. Due to the constraints on the property, it would not be possible to deliver a higher and better use on the property without the formation of the Mansfield Public Facility Corporation.
Funding Source
N/A
Prepared By
Matt Jones, Assistant City Manager