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 Phase II Warehouse Expansion
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 warehouse expansion as Tax Abatement Reinvestment Zone No. 44. It is located at their main facility adjacent to the Phase I expansion completed in 2016. The warehouse expansion will be approximately 127,000 SF and employ a minimum of 100 new employees. The total capital investment is anticipated to be $40 million. A 30% tax abatement for a term of 10 years is recommended on $15,000,000 which represents construction of the improvements.
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