Title
Board Discussion and Possible Action Regarding an Acknowledgment, Consent, and Agreement between MEDC, City of Mansfield, Shops at Broad, LLC, and Mansfield NLA, LLC, to Approve a Partial Assignment Under the Second Amended and Restated Development and 380 Agreement Between MEDC, City of Mansfield and Shops at Broad, LLC.
Requested Action
Approval of partial assignment under the Second Amended and Restated Development and 380 Agreement between MEDC,City of Mansfield and Shops at Broad, LLC.
Recommendation
Approval of partial assignment under the Second Amended and Restated Development and 380 Agreement between MEDC, City of Mansfield and Shops at Broad, LLC
Description/History
The Shops at Broad, LLC is building the Academy Sports and Outdoors store. When the facility is complete Shops at Broad will transfer the underlying land and improvements to Academy. This assignment will facilitate that transaction. A copy of the assignment document will be available at the meeting.
Justification
Academy is a highly desirable tenant for the Shops at Broad.
Funding Source
4A
Prepared By
Richard Nevins, Assistant Director, 817-728-3652