Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Authorizing the City Manager or his Designee to Negotiate, Finalize, and Execute a Development Agreement with Realty Capital; Finding that the Meeting at which this Resolution is Passed is Open to the Public as Required by Law; and Declaring an Effective Date
Requested Action
Authorization for the Economic Development Agreement.
Recommendation
Staff recommends approval.
Description/History
This property consists of roughly 318 undeveloped acres located in the Western Promise, which is designated in the Future Land Use Plan as Urban/Suburban neighborhood. The developer is seeking to develop a community that reflects the vision of the area in the Future Land Use Plan.
Justification
This development agreement will benefit both parties to ensure the development reflects complete neighborhoods with remarkable amenities and infrastructure.
Funding Source
N/A
Prepared By
Matt Jones, Assistant City Manager