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 of Mesquite; authorizing the City Manager to finalize and execute an economic development program agreement (Chapter 380 Agreement) for such purposes with Skyline Commerce Center Owner, LP, (Conor Commercial Real Estate) for the development of two industrial buildings consisting of approximately 197,600 cumulative square feet on approximately 12.38 acres of real property located at the southeast corner of Buckner Boulevard and Interstate Highway 30 in Mesquite, Texas; and authorizing the City Manager to administer the agreement on behalf of the City.
Body
Skyline Commerce Center Owner, LP, is constructing two new 197,600 cumulative square-feet industrial buildings on approximately 12.38 acres located at the southeast corner of Buckner Boulevard and Interstate Highway 30, in the Skyline Industrial District. The company will own and lease the properties.
Conor Commercial Real Estate is a real estate development company headquartered in Chicago, Illinois. Conor has offices, logistics and distribution centers throughout the United States. State of Texas holdings include: Mesquite, Austin, and Missouri City.
The terms of a Chapter 380 Agreement provide City participation in a reimbursement of water, and wastewater fees not to exceed $100,000.00.
The total value of the incentive is up to $100,000.00; the capital investment for this project is approximately $10 million. Additionally, the company will create new jobs and expand the local tax base.
Recommended/Desired Action
Following the public hearing, staff recommends approval of the resolution.
Attachment(s)
Chapter 380 Agreement Summary
Resolution
Drafter
David Witcher
Head of Department
David Witcher