Title
Conduct a public hearing and consider a resolution approving the termination of an Economic Development Program Chapter 380 Agreement between the City and SRB Mesquite, LLC, a Texas limited liability company, dated effective January 1, 2025, and approving the terms and conditions of an Amended and Restated Chapter 380 Economic Development and Performance Agreement ("New Agreement") between the City and SRB Mesquite, LLC, to promote economic development and to incentivize SRB Mesquite, LLC, to continue redeveloping an existing building and surrounding area located at 1738 North Town East Boulevard in the City of Mesquite, Texas; authorizing the City Manager to finalize and execute the new agreement and administer the new agreement on behalf of the City.
Body
The City of Mesquite entered into an agreement with SRB Mesquite, LLC, which was approved by the City Council on October 6, 2025, 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 agreement required 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. As a result of changing market conditions for the parent owner of Main Event (Dave and Busters) resulting in constriction of national store expansions, the developer of the site proposes a new international entertainment anchor, Round1, to occupy a minimum 85,000 square feet under a 10-year lease.
The proposed new anchor offers bowling, arcade, pickle ball, full restaurant, karaoke, and other activities for families and corporate clientele, and has locations throughout the world. The Mesquite location would be the first in Dallas County.
Like the original agreement, the amended and restated agreement requires the Company to make a minimum capital investment o...
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