File #: 17-2416    Version: 1 Name: Resolution - A Resolution Authorizing the City of Mansfield to Enter a Development Agreement with Pavilion Properties for Improvements to Property Within Reinvestment Zone Number One for an Amount not to Exceed $231,782 (TIRZ Number One Fund)
Type: Resolution Status: Passed
File created: 8/9/2017 In control: City Council
On agenda: 9/11/2017 Final action: 9/11/2017
Title: Resolution - A Resolution Authorizing the City of Mansfield to Enter a Development Agreement with Pavilion Properties for Improvements to Property Within Reinvestment Zone Number One for an Amount not to Exceed $231,782 (TIRZ Number One Fund)
Sponsors: Joe Smolinski
Attachments: 1. Resolution, 2. Development Agreement - Methodist Mansfield Public Improvements, 3. Exhibit A - Streetscape and Public Improvements Cost Estimates, 4. Exhibit B - Methodist Mansfield-Streetscape Improvements

Title

Resolution - A Resolution Authorizing the City of Mansfield to Enter a Development Agreement with Pavilion Properties for Improvements to Property Within Reinvestment Zone Number One for an Amount not to Exceed $231,782 (TIRZ Number One Fund)

Requested Action

Approval of the Resolution.

Recommendation

Approval of the resolution authorizing the City to enter a development agreement with Pavilion Properties for public improvements along Hospital Drive and Matlock Road.

Description/History

Methodist Mansfield is in the process of constructing the second professional office building. As part of that construction process, Methodist Mansfield desires to make certain public improvements along Hospital Drive and Matlock Road. These improvements would be constructed in conjunction with the POB # 2 and will be dedicated to the City by plat.

 

TIRZ Number One Board approved a TIRZ Agreement, which will provide funds to be used for reimbursing Pavilion Properties.

Funding Source

Cash available in TIRZ Number One

Prepared By

Joe Smolinski

Deputy City Manager

joe.smolinski@mansfieldtexas.gov

817-728-3601