Title
Conduct a public hearing and consider a resolution approving the terms and conditions of a program to promote local economic development and stimulate business and commercial activity in the City, authorizing the City Manager to finalize and execute an Economic Development Program Chapter 380 Agreement for such purposes with Harmon, Inc., for the lease and occupation of the industrial park facility located at 2614 Big Town Boulevard, in the City of Mesquite, Texas, and authorizing the City Manager to take such actions and execute such documents as are necessary or advisable to consummate the transactions contemplated by the agreement and administer the agreement on behalf of the City.
Body
Harmon, Inc., proposes to move from their existing location at 5351 Samuell Blvd., #400, Mesquite, Texas, to lease and occupy a new facility at 2614 Big Town Boulevard, Mesquite, Texas. The new building is approximately 212,000 square feet and is on the site of the previous Truck Stops of America which was redeveloped in 2023, expanding Harmon's footprint by an additional 77,000 square feet from their existing facility.
Harmon plans to move the existing operations of unitized curtain wall (high-rise fa?ade) glass unit manufacturing and assembly into the new facility by October 2, 2024, adding 80 new full-time employees (for a total of 200) by June 30, 2026.
The proposed Chapter 380 Agreement requires Harmon to lease the facility for a term of at least seven-years, receive a Certificate of Occupancy by October 2, 2024, and pay an average annual wage to existing and new employees of $57,200. The agreement also requires capital expenditures of $3.5 million in tenant improvements and $3.6 million in Business Personal Property (BPP) to qualify for the incentive.
The proposed Agreement provides the Company a City-tax grant based upon 100-percent of Business Personal Property taxes paid annually for seven-years, estimated to be a total of and a not-to-exceed amount of $25...
Click here for full text