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