Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving Terms and Conditions of a Tax Abatement Agreement by and Between the City of Mansfield, Texas and Mouser Electronics, Inc.; Establishing and Providing a Tax Abatement and Authorizing its Execution by the Mayor; and Providing an Effective Date
Requested Action
Approve Tax Abatement for Mouser Electronics New Office Building
Recommendation
Recommend Approval of Tax Abatement for 30% for 10 Years
Description/History
At the November 26, 2018 City Council meeting, the Council approved the Ordinance designating the new office building as Tax Abatement Reinvestment Zone No. 43. It is roughly located at House Road and 157. The new office building will be approximately 50,000 SF and employ a minimum of 100 new employees. The total capital investment is anticipated to be $12 million. A 30% tax abatement for a term of 10 years is recommended.
Justification
This project would create additional office jobs and provide tax relief to Mansfield’s largest private employer.
Funding Source
Prepared By
Richard Nevins, Interim Director MEDC, 817-728-3652