Title
Ordinance - Public Hearing and First and Final Reading on 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; 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 approving the Ordinance.
Recommendation
City staff recommends approving the ordinance.
Description/History
As part of the Crystal Window and Door Systems project on the "mushroom property", the company is working with amending the site boundaries with adjacent property owners in order to ensure the most efficient layout of the site. Because Reinvestment Zone #46 was created last November 2022, the extra property being utilized going forward, some of the property was inadvertantly left out. So, this Reinvestment Zone #47 is required to pick up the additional property for Crystal Window and Door Systems' project.
City Council Priorities
Develop a Strong Economy
Justification
The establishment of the zone is required to implement an already approved economic development agreement in place between the MEDC, City, and Company.
Funding Source
N/A
Prepared By
Jason Moore, Executive Director of Economic Development