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, execute and administer a Chapter 380 Economic Development Performance Agreement ("Agreement") for such purposes by and between the City of Mesquite, Texas, and SRB Mesquite, LLC, a Texas limited liability company ("Company") and granting to the Company certain economic development incentives, 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
The City of Mesquite proposes to enter into an agreement with SRB Mesquite, LLC, to facilitate the commercial development of an 18.6513-acre parcel of land and redevelopment of an existing building at 1738 North Town East Boulevard, as part of the Town East Mall area formerly occupied by Sears.
The City Council will also consider approval of Planned Development zoning for the tract of land prior to the consideration of this Chapter 380 Agreement. The zoning for the Planned Development was approved by the Planning and Zoning Commission on September 22, 2025.
The proposed agreement requires the company to construct a 58,000-square-foot Main Event brand family entertainment business within the former Sears building, opening by December 31, 2026, and with a 10-year lease. Additionally, the Company plans to develop outparcels on the property and conduct extensive site redevelopment including pavement, landscaping, lighting, signage, and amenities to create a beautified and walkable development.
The agreement requires the Company to make a minimum capital investment of $25M by July 1, 2027, with at least three new outparcel site prepared for development. The City of Mesquite would provide a one-cent State Us...
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