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File #: 18-2929    Version: 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 44; 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
Attachments: 1. Ordinance

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 44; 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. (Warehouse 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 127,000 square feet of warehouse 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