Title
Request from Mouser Electronics, Inc. to Extend the Deadline Required for Obtaining a Certificate of Occupancy Per Their Economic Development Agreement
Requested Action
Approve the extension of the deadline for Mouser Electronics. Inc. to obtain their Certificate of Occupancy to October 31, 2016
Recommendation
Approve the extension of the deadline for Mouser Electronics. Inc. to obtain their Certificate of Occupancy to October 31, 2016
Description/History
In July 2014, MEDC entered into an Economic Development and Performance Agreement with Mouser Electronics, Inc. for the expansion of their existing Mansfield facility. This agreement requires Mouser to make a capital investment of at least $10 million in real property improvements, expend at least $1 million in business personal property and obtain a Certificate of Occupancy no later than December 31st, 2015. Mouser has not yet received their final CO, but anticipate having it in the next few weeks, therefore they are asking the Board to approve an extenstion of their deadline for obtaining a CO to October 31, 2016 as stated in the attached letter.
Justification
Mouser is the largest private employer in Mansfield and their investment has had a positive impact on the community.
Funding Source
4A
Prepared By
Scott Welmaker, Director, 817-728-3651