File #: 18-2794    Version: 1 Name: Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Development and Performance Agreement by and Between the Mansfield Economic Development Corporation (“MEDC”) and R&P Chappell Family, L.P. and Authorizing
Type: Resolution Status: Passed
File created: 7/10/2018 In control: City Council
On agenda: 8/13/2018 Final action: 8/13/2018
Title: Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Development and Performance Agreement by and Between the Mansfield Economic Development Corporation (“MEDC”) and R&P Chappell Family, L.P. and Authorizing its Execution by the President of the MEDC; and Providing an Effective Date
Sponsors: Clayton Chandler, Richard Nevins
Attachments: 1. Resolution, 2. Basic Components EDA

Title

Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Development and Performance Agreement by and Between the Mansfield Economic Development Corporation (“MEDC”) and R&P Chappell Family, L.P. and Authorizing its Execution by the President of the MEDC; and Providing an Effective Date

Requested Action

Consider request for assistance from Basic Components, Inc.

Recommendation

At the June 5 MEDC Board meeting, the board recommended reimbursement of actual cost, not to exceed $112,000, for fire protection, fire lanes and storm drainage improvements.

Description/History

Basic Components Inc. (BCI) is a family owned business in its second generation of ownership.  BCI is a wholesale distribution facility to the manufactured housing, modular housing, cargo trailer and utility trailer market which built and moved into their 2nd Ave. facility in 1995.  At present, BCI employs 25 people from Mansfield and the immediate surrounding area.

 

The current BCI facility, located at 1201 S. 2nd Ave., consists of 82,120 SF of distribution.  BCI is planning to expand its current facility by 24,000 SF for a total of over 100,000 SF.  The total capital investment for this expansion is $1,354,000.00.  This expansion is estimated to generate up to 8 new jobs over the next 5 years. 

 

BCI is requesting assistance in the amount of $177,559 to cover a variety of items.  The MEDC board recommended assistance with the following items:

 

                     Fire Protection - $57,200

                     Fire Lanes - $46,246

                     Storm Drainage - $8,000

Justification

This project would create additional jobs and investment to a long standing Mansfield business.

Funding Source

4A

Prepared By

Richard Nevins, MEDC, 817-728-3652