CITY OF MANSFIELD - File #: 18-2928

• File #: 18-2928
• Version: 2
• Name: Ordinance - Public Hearing and Third and Final Reading of an Ordinance of the City Council of the City of Mansfield, Texas, Designating a Certain Area as a Tax Abatement Reinvestment Zone for Commercial-Industrial Tax Abatement Within the City of Mansfiel
• Type: Ordinance
• Status: Passed
• File created: 10/10/2018
• In control: City Council
• On agenda: 11/26/2018
• Final action: 11/26/2018
• Title: Ordinance - Public Hearing and Third and Final Reading of an Ordinance of the City Council of the City of Mansfield, Texas, Designating a Certain Area as a Tax Abatement Reinvestment Zone for Commercial-Industrial Tax Abatement Within the City of Mansfield, Texas to be Known as Reinvestment Zone 43; Establishing the Boundaries Thereof and Other Matters Related Thereto; Providing a Severability Clause; Providing a Repealer Clause; and Providing for an Immediate Effective Date
• Sponsors: Clayton Chandler, Richard Nevins

Date	Ver.	Action By	Action	Result
11/26/2018	2	City Council	Approved on Third and Final Reading	Pass
11/12/2018	2	City Council	Approved on Second Reading	Pass
10/22/2018	1	City Council	Approved on First Reading	Pass

Title

Ordinance - Public Hearing and Third and Final Reading of an Ordinance of the City Council of the City of Mansfield, Texas, Designating a Certain Area as a Tax Abatement Reinvestment Zone for Commercial-Industrial Tax Abatement Within the City of Mansfield, Texas to be Known as Reinvestment Zone 43; Establishing the Boundaries Thereof and Other Matters Related Thereto; Providing a Severability Clause; Providing a Repealer Clause; and Providing for an Immediate Effective Date

Requested Action

Consider Ordinance to create a Reinvestment Zone in order to grant a Tax Abatement for Mouser Electronics, Inc. (Office Expansion)

Recommendation

Approve Third and Final Reading of an ordinance to create the reinvestment zone

Description/History

Staff has been working with Mouser Electronics, Inc. to construct 50,000 square feet of office space.  One of the commitments from the City of Mansfield is to grant a 30% 10 year tax abatement. In order to grant an abatement, a reinvestment zone must be created by ordinance.

Justification

N/A

Funding Source

N/A

Prepared By

Richard Nevins, MEDC