Title
Board Discussion and Possible Action on Amended and Restated Performance Agreement with Hoffman Cabinets.
Requested Action
Consider revised request from Hoffman Cabinets
Recommendation
Recommend approval of revision to current agreement to include equipment purchased at existing facility.
Description/History
At the September 2018 MEDC board meeting, the board approved assistance in the amount not to exceed $514,000, for eligible infrastructure improvements located at 1210 Antler Drive. Hoffman Cabinets intends to purchase new equipment, as part of their overall capital investment of nearly $8 million, in their existing facilities and moving existing equipment to the new facility. They are requesting the current agreement be modified to include equipment purchases at their existing facilities to be included in the overall capital investment.
Justification
Hoffman Cabinets has been in Mansfield for 40 years and has continued to grow their operation here locally. They are one of our largest industrial businesses.
Funding Source
4A
Prepared By
Laurie Fleiner, MEDC, 817-728-3653