Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Approving an Economic Development Agreement between the City of Mansfield, Texas, the Mansfield Economic Development Corporation, the Board of Directors of Reinvestment Zone Number One in the City of Mansfield, Texas, and Lonejack, LLC; Finding that the Meeting at which this Resolution is Passed is Open to the Public as Required by Law; Authorizing the City Manager or his Designee, The MEDC Board President, and Chairman of TIRZ #1 Board, to Execute Said Agreement; And Declaring an Effective Date (General Fund, MEDC, TIRZ #1)
Requested Action
To Consider Approving the Resolution
Recommendation
To Approve the Resolution
Description/History
As part of the new innovation district, the LinQ, Sellmark owner James Sellers, and his team have been working on a new development just east of their existing location on Heritage Parkway, to bring extensive training and incubator space to the forefront using the latest in advanced manufacturing technologies. The new space will provide a location for those looking to develop their patents and products with scale in mind. Additionally, the new building will house warehouse, office, retail, and a firearm training center.
Justification
Incentives are needed to bridge the gap for infrastructure requirements, community space, and enhanced architecture and landscaping.
Funding Source
TIRZ #1
Prepared By
Jason Moore, Executive Director of Economic Development